Ownership Podcast S2 E3: Lili (@overdotcomputer) "Letting traders own the house." 00:00 Intro 00:55 @lililashka's background: cybersecurity law, data pipelines and DeFi 01:27 Why prop firms want traders to fail 02:25 What a prop firm is and how Over is different 04:14 Who trades on prop firms: retail, pros or both 05:52 A multi-billion-dollar industry and where payouts come from 07:45 Why 70% of traders lose and the market still wins 09:53 The next 1,000x: incentive design, not leverage 10:53 Trading as entertainment and what makes it sustainable 13:47 Letting traders own the house 14:44 Getting started and the prop funding rate 17:03 Tokenised stocks, crypto and prediction markets 18:48 Prediction Index and the war and peace index 20:40 Missions and why Over is a launchpad, not a house 23:48 OIP-1: third-party hosts for trading missions 25:33 Why Solana first 26:24 Why MetaDAO and futarchy 32:01 The biggest risk: agentic trading 34:28 Incentive alignment and closing thoughts This show is sponsored by @MetaDAOProject.

We are organizing a road trip from Georgia🇬🇪 to the UK🇬🇧 for Breakpoint 2026. We got this crazy idea during @SuperteamGEO builders gathering. What if we get a van, wrap it with @solana, @solflare, @JupiterExchange, @Helius, @PhoenixTrade, @superteam, @kamino, @Raydium, @sanctumso, @colosseum, @solanamobile, @NOMADZxyz, @jito, @triton_one, @Backpack, @metaplex, @avici, @phantom, @MeteoraAG, @Alchemy branding and drive thousands of kilometers across the globe while creating content and hit EVERY @superteam chapter we can, host events and challenges. Here's the route: Georgia🇬🇪 @SuperteamGEO ➝ Turkey 🇹🇷 @SuperteamTR ➝ Serbia 🇷🇸 (Balkans) @SuperteamBLKN ➝ Poland 🇵🇱 @SuperteamPOL ➝ Germany 🇩🇪 @SuperteamDE ➝ Netherlands 🇳🇱 @SuperteamNL ➝ UK 🇬🇧 @SuperteamUK Final destination: Breakpoint @SolanaEvents What is this trip? This trip is not meant to be hidden away where we start off in Georgia and end up in UK within a few days, no. There will be obstacles, challenges, unforeseen problems one can't anticipate - or can they? Content, friendly challenges with other Superteams to see who's the best... at what exactly?👀 As of today confirmed road trip participants are: @heisenburgirrs @MainJeefx @2jer20 @bibo19_ How we're funding this: we'll be selling ad space on the van via @oxar_app, if you're a @solana startup your brand could be travelling 10,000 kilometers across Europe, appearing in our video content and getting in front of tens of thousands of eyeballs 👀. The initiative already found its first sponsor - @superteam and we might have a bidding war on our hands⚔️ You can bid on any of the following ad placements: Hood, Fenders L&R, Doors L&R , Sliding Doors L&R , Side Panels L&R, Rear & Roof. Each auction item will start off with a minimum bid and will increase by fixed amount on every new bid. We'll also have 100 logo placements on front and rear bumpers for smaller startups, $100 per logo, first come first serve. Whether you're a major ecosystem player or an early-stage startup, there's a place for you on the van! You can already browse the available ad placements at Auction goes live today 19:00 UTC on @oxar_app website. Tag your favorite project on @solana who you wish to see be part of this legendary road trip full of surprises and excitement! See you at Breakpoint!

RAIL is quite cheap when you look at FDV/Holders Rev, around 50x (depends on how you view holders revenue though). True there are still 40M tokens to be minted until the hard supply cap is hit (60M / 100M), but any additional mint needs to be approved by the Railgun DAO, and dilution in the foreseable future is likely to be minimal (cf. the 2.5M mint in July). Holders get a claim on the economics through staking, 4.2% of the treasury is distributed biweekly. That's probably not the cleanest value accrual mechanism, but I'd argue that it's not really an issue since all the fees go to the treasury and the treasury is governed by the DAO. It's not like there's some extraction in favor of another instrument, like equity. I personally consider any revenue governed by tokenholders to be holders revenue, but that's up for discussion, so the multiple can vary depending on your views. The current rate of rewards is "close to being sustainable": Based on the trailing 30-day numbers, current protocol fees cover the distributions. RAILGUN generates about $1.13 in fees for every $1 distributed to stakers ($369,719 vs. $325,788). I say "close to being sustainable" because I'd need to look deeper into the treasury composition. Only RAIL, WETH, and DAI are eligible for the distribution mechanism. But it doesn't really matter since the whole point is that RAILGUN's business can substantially grow from here: (1) more distribution through wallets that integrate RAILGUN via the Kohaku SDK (2) growing onchain activity and demand for privacy on Ethereum and other EVM chains where RAILGUN is deployed Growth has been quite reflexive, with double-digit MoM growth in some months since the June bottom. Market conditions will play a big role, as with any DeFi token. - There's probably some regulatory risk overhang with the ongoing lawsuit against the RAILGUN DAO. Also, some wallets may not want to integrate RAILGUN because of that. - Vitalik will demo Ambire wallet's privacy features on November 3, and RAILGUN was mentioned in the stack, so there may be some sell-the-news volatility around that day. But overall, clean chart, product with PMF and real potential for more growth. Looking forward to the Ambire integration. I think it can be both a short-term and long-term catalyst.

Ownership Report #19#: Inner Table (@theinnertable) Inner Table is building offline poker studios in India, and we got founder Kirat (@Kirat_tw) two days into the raise, the second on @backabledotbiz by @MetaDAOProject. It's already 94 percent filled, with a $150K minimum and a $250K cap. Online poker was banned in India a year ago, but offline games of skill are decided state by state, and poker is now legal in five to six states. Day one takes $100K: $60K for setup, $20K for licenses and $20K for salaries and hiring. Even the worst case, one table and 18 players a day, works out to around $25K a month, while most local studios do $75K to $100K and the top ones do up to $300K. Plus why the smallest, worst located studio in town wins, dealers earning $3,000 a month, and a studio under 2,000 square feet that made $1.5 million in under six months. Full breakdown below: 0:00 Welcome, and a raise 94 percent filled in two days 1:07 Raising $150K to $250K for poker studios in India 2:01 Why online poker was banned but offline poker is legal 4:24 Regulation as the only real risk, and the plan if it turns 6:16 Where the first $100K goes 8:25 Why the smallest, worst located studio wins 10:05 A team of 12 to 15, and dealers on $3,000 a month 12:12 The supported by tag, and MetaDAO vetting founders 13:41 Anonymous backers putting in $10K to $15K 14:58 Why raise for an offline business 16:09 A small studio that made $1.5 million in under six months 17:14 Commoditized software and licenses as a moat 17:45 What the January 2027 mainnet date means 18:14 The worst case: one table and $25K a month 20:06 Average and best case, up to $300K a month 21:43 Do your own research, and don't feel pressured This show is sponsored by @MetaDAOProject

Ownership Podcast S2 E2: Kirat (@TheInnerTable) "Taking poker mainstream, one studio at a time." 00:00 Intro 01:00 @kirat_tw's background: Superteam, Backpack and a 600K YouTube channel 02:16 From Goldman to Gather Town to Backpack 04:56 Surviving FTX and going all in on YouTube 06:02 What The Inner Table is and why poker 06:49 How India banned online poker but legalised offline studios 08:03 The economics of a poker studio 09:43 Kirat's poker history and what the game teaches founders 13:29 Bigger ambitions beyond one studio 15:52 What makes The Inner Table different 18:48 Community, licensing and the launch timeline 19:56 Why Kirat chose MetaDAO and Backable 21:29 The raise: terms and what $100K builds 23:11 What early success looks like 24:15 The biggest risk: regulation 26:22 Where crypto could fit: token perks and freerolls 28:01 Why back The Inner Table and closing thoughts This show is sponsored by @MetaDAOProject

When I started researching $LIT, I never indexed too much on Robinhood. Arcus (co-incubated by RH and dYdX) was already announced, and it was also mentioned on a few occasions that the perps landscape on RH will be multi-venue anyway. Also, I wouldn't be surprised if they launch an in-house dex at some point: RH is very opinionated, they want to maximize the stock, and it's very likely that at some point in the future they spin up their own platform. If perps keep growing into a trillion+ market, I don't think RH will remain on the sidelines of the economic upside. So I never really attached my Lighter bull case to RH. Robinhood still has everything to prove, there will be more competition from other corpo chains - even if Lighter wins on RH, it doesn't imply that RH wins the perps race. And the perps market has immense potential anyway. I always thought the bull case extended much beyond RH. Given recent PA, I was manifestly async with how other participants viewed it, but won't complain because that gave me what I think is a good entry in the big picture: current average around $3.28. If LIT manages to bounce back convincingly from here after such a narrative violation, that's a strong signal.

Ownership Podcast S2 E1: Tim (@SyndicateGameHQ) "Building a crypto game people actually want to play." 00:00 Intro 01:50 @nftimm's background: Tensor, Vector and Backpack 03:29 How getting rugged sparked The Syndicate 06:02 What The Syndicate is and who it's for 11:22 What crypto actually adds to the game 13:43 Verified randomness and onchain fairness 15:27 Why GameFi never found PMF 18:06 Liquid tokens and the ROI trap 20:25 The four-month beta and the no-token decision 22:16 Raising on Backable and ownership tokens 30:55 From futarchy skeptic to believer 35:16 Quitting Backpack and winning the Colosseum hackathon 40:26 Traction: revenue, retention and growth 43:24 Roadmap: V2 and the free-to-play App Store launch 47:44 Closing thoughts and sponsors This show is sponsored by @MetaDAOProject

Some personal news: I recently joined MetaDAO. Working at Colosseum with Matty, Clay, Nate, and Max was a dream job. I learned a tremendous amount from each of them, and I will miss the team deeply. Colosseum represents the very best of our industry -- running the world’s largest hackathons, writing checks before ideas are fully formed, and building open-source tools so a thousand flowers may bloom. It’s been an honor to work with our founders, and I’m excited to keep supporting them from my new seat. Ever since I got oneshotted in 2023, I've thought about MetaDAO every single day -- with only a few notable exceptions. And along the way, I’ve tried to help. At Delphi, that meant writing slightly verbose research reports to spread the gospel. At Colosseum, it was STAMP, the Inaugural MetaDAO Owners Meeting, and [redacted]. Now, it’s time to go all in. I love this industry and am optimistic about what we will build. But we haven’t lived up to our own expectations. The blockchains work. And the stablecoins work. So where are all the generational businesses? It’s not that crypto is useless. It’s that too often, we reward launching tokens more than building lasting companies. I believe MetaDAO can help change that by giving founders a better way to raise money and build businesses on the internet. Fundraising is how we will bring decision markets to the world. Our ambition goes beyond helping founders raise money -- it’s to change how companies are run and, ultimately, how institutions and perhaps even AIs make decisions. For three years, I’ve believed in what MetaDAO could become. Now I get to help build it alongside Prophet, Kollan, and the rest of the team. Long live the Meta DAO

ownership podcast season 1 was a great playground to experiment season 2 will be much higher quality with a higher cadence of releases and most importantly a higher variety of guests this is a huge unlock for us, i cant wait for to see what the future holds starting monday!

Ownership Roadshow #5# Rankings 🏆 Roadshow #5# was a @SuperteamBLKN night. Eight teams building on @Solana pitched, from yield and onchain banking to user intelligence. The projects that placed at the top: 🥇 1st - @Yieldy_io / @alexdimes7 🥈 2nd - @AnodosFinance / @panosmek 🥈 2nd - @SegmentoAI / @MHauzr 🥉 3rd - @Cognios_io / @Archaeoloper Thank you everyone for tuning in, and on to the next one 🦈

The first decision market for @crediblefin is live. Authored by @NiceGuyShri, CREDIBLE-001 proposes converting $250,000 of Credible’s treasury USDC into @solomon_labs USDv. The allocation would earn an expected 2.5%–5% annual reward rate. The proposal also points to a broader partnership between Credible and Solomon in the future, including potential benefits for CRED holders. CREDIBLE-001 is currently passing by 5.8%, with $7.1K in trading volume and just under two days left. You can trade it on @MetaDAOProject’s website.