Introducing Statebook: Markets for All States of the World. For the past few months, I’ve been exploring a simple market-design question: What becomes possible if we start with the exposure someone needs, rather than the contract an exchange happens to list? This question is becoming increasingly relevant as @HyperliquidX, @Kalshi, @Polymarket, and vertically specialized exchanges such as @Architect_Fi expand the universe of tradable underliers, and the boundaries between perpetuals, options, and event contracts begin to blur. My answer: structured-product heaven. The working paper and interactive research interface are below. Thank you to @0xsmac, @0xfishylosopher, and Chris Saunders for reviewing and contributing to the initial draft.

The $LNRA Community Round commitment period has now ended. Unfortunately, we fell short of our $1.5m USDC minimum target We truly appreciate the interest from the 617 participants from 69 difference countries who pledged a combined $848,271 USDC to $LNRA The website will be updated soon to begin processing refunds for those that committed Refunds will be claimed and returned to the same wallets from which they were committed We will follow up with an announcement when this goes live Stay tuned for additional updates following the conclusion of the refund period

3 hours remain! The $LNRA sale commitment period is set to end at 8 PM ET / midnight UTC The final sprint to complete the minimum for the sale and lock in $0.02 cost-basis for all participants thus far Only a few whales push us over the line (doubling the price for whoever is late)

Halfway to our minimum goal 🥳 Reminder we recently updated wallet filtering settings and are seeing reports of users being able to now participate in the sale! - $0.02 effective price per $LNRA for first $1.6m in - 50x commitment credits (fee-free volume) - Up to 25% of the supply sold to open market - Community Reserve starting at 65% of total supply Sale ends at 8pm ET / midnight UTC

Under 8 hours remaining in the $LNRA sale ICYMI: we identified a cohort of would-be participants being blocked by wallet filtering After adjusting, we extended the commitment window the remainder of Sep 8th UTC

🚨Extending the $LNRA Sale🚨 We're very thankful for the surge we've seen in commitments leading into the completion of the sale! During this increased period of commitments and thanks to investor and community reports, we've identified an unnecessarily strict wallet blocking configuration that kept many from participating in the sale In the interest of giving these individuals a fair chance to participate in the round and knowing we are on pace to clear our minimum target with some additional time and these contributions: We are extending the commitment period by 10 hours, now ending September 8th, 8PM ET / September 9th, 12AM UTC Additionally, all commitments in the first $1.5m total committed will receive the FULL 50x commitment credit multiplier, as our genuine thank you for your belief in us. This means 50 dollars of fee-free volume during Season 1 for every 1 dollar committed This adjustment will reflect on the sale site, and we thank interested parties for their reports on this matter! Recheck your status, and join us @

If you are still considering parking funds, knowing the market right now is extremely hot and that you might miss the next Vlad tweet (you will) lend me your ear I truly believe opportunities like this come around a few times in crypto. Having built the product and having some level of bias, I still am fascinated by what we've accomplished and what we're on the doorstep of There's a industry-wide duration floor for every single prediction market you get to experience 5 minutes Like breaking the speed of sound it seems a constraint everywhere you look But not on @lineraxyz Markets resolve sub second, recurring, multiple configurations across a variety of assets running every single minute An industry being priced into the 100s of billions, with incredible activity specifically in these markets, missing from our playground This is your opportunity to jump start the future of gamified finance at a valuation we geniunely believe is one of the most attractive in the space At an extremely modest 20x annualized burn to FDV ratio, we'd need to only clear 1m USD in revenue to justify our 20m effective offering price and put every single commitment in the money Ask yourself, when 5 minute up downs alone are doing 40m USD a single day in volume... You don't think the only 1 minute markets in the world, layered with unique games can't produce a single million? On our own L1? 👇

> One of the cheapest effective L1 offerings in crypto history (effective 20m FDV selling up to 25%, fully unlocked on TGE) > One of the largest Community Reserves (65% including sale) > Mainnet targeting next month > Only production grade 1 minute markets > Completely unique games called Linera Originals > Season 1 incentives start Day 1 > Revenue committed to buybacks and burns (hyperlinera) > Extremely lean, 5 person core team > Burning less than $100k / month The only thing missing from this equation, is $LNRA in your hands