Pressing the buttons at Backable. Opinions are my own (but probably should become yours, too.)
In the orderbook
Joined August 2022
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Practicing Futargamy retweeted
A few things I want to clarify regarding @PercolatorTrade and our decision to raise through MetaDAO’s Backable.
-We have not sold any tokens from the existing Pumpfun token, our team’s token allocation was burned.
-Everything we’ve built has been completely open source. The existing Pumpfun token was not launched by us, we took it over and joined the pumpfun hackathon. It remains independent, and anyone is free to continue building around it or organize a CTO.
-Building a permissionless perpetuals protocol is one challenge. Bringing it to mainnet securely, with external audits, reliable infrastructure, and sustainable long,term development, is another.
-Over $200K in fees generated from the token over the last year + went directly toward funding and developing Percolator Trade. An additional $14.5K in fees remains pending, and we’re considering how best to use those funds to benefit existing holders.
-After careful consideration, we chose MetaDAO’s Backable to help fund the next stage of development. We also made sure eligible existing holders would have a guaranteed allocation in the new raise, giving our community the opportunity to participate in Percolator Trade’s next chapter.
-MetaDAO did not give us any advice on what to do or what not do just what was possible and not possible.
As founders, our responsibility is to make the decisions we believe gives Percolator Trade the strongest chance of long term success.
Why? Based on feedback from investors and respected builders across the Solana ecosystem, we realized the existing token structure wasn’t sustainable for Percolator’s long term growth. MetaDAO provides stronger structural protections, performance based founder incentives, and a framework that attracts investors who believe in the protocol we’re building, while giving us a more sustainable foundation to scale.
Our conviction hasn’t changed, and neither has our commitment to building.
We will continue to look furthermore into how we compensate previous holders more
Practicing Futargamy retweeted
We're excited to announce that @morifinance_ will be our next curated raise on November 9th at 11am PT.
Practicing Futargamy retweeted
huge day for our industry. Regular people building regular businesses can raise money on Internet Capital Markets in a way that is EV+ for investors and creates onchain native assets. That’s the dream.
Our guy @0xSrMessi is making the leap to founder!
The FINAL (@final_wallet) ICO is now open!
Final is a multichain non-custodial wallet built by the legendary @0xSrMessi.
Follow the link below to participate.
Practicing Futargamy retweeted
and just like that... the first app programs raise is filled
The first Apps Program raise, 1609SAT, is now live: metadao.fi/companies/1609sat
MetaDAO will contribute $50k. The rest is open to the public.
If you swap “equities” for “ownership coins” the thesis behind MetaDAO and Backable becomes very clear.
Level the playing field, tokenize the long tail and let the free market pick the winners.
IMO the bigger opportunity for tokenized equities is in the long tail.
Through Oct 24, $VIDA and $PTN generated 7.8x and 2.1x their underlying stocks’ estimated US turnover over matching periods since first observed on @solana.
Harder to access stocks (e.g. small cap-stocks on exchanges outside the US) could reach new investors through apps built around discovery, community and simple trading, all drawing on shared liquidity.
If that activity develops into deeper, informed markets, Solana could become a place where prices are set, not just followed.
Like any trader, I struggle with when to take profits and when to cut losers. But a weird new internal battle that I’m now dealing with is when to cut other tokens I’m genuinely bullish on because a different coin is so grossly mispriced that it seems like I should fire everything I have at it.
It’s hard to know what is more wild here, how correct the market was or the fact that this was *rechecks the dates one more time* only 4 months ago.
Charles Dalton? Isn’t that the guy who wrote about evolution?
Markets should make the decisions.
@metaproph3t co-founded @MetaDAOProject, which is rebuilding venture capital for the internet on Solana. Catch him at Breakpoint, November 15-17.
Feels Backable…
I built a dating app alone. Now 160 people are paying for it.
$1,500 MRR. $18K ARR. In just 4 weeks. 🚀
📱 5,000+ users
🔥 700 daily active users
📈 1,500 weekly active users
Building a dating app as a solo founder means doing EVERYTHING: coding, design, marketing, acquisition, support, moderation, compliance… all of it.
It’s exhausting, chaotic, and the most rewarding thing I’ve ever built.
Forever grateful to @RevenueCat and #Shipaton for pushing me to turn an idea into a real business.
And we’re just getting started. 🏃♂️
As I look over the tape this morning, it is becoming increasingly clear to me that the defining feature of the large and mostly commoditized L1 tokens (BTC, ETH, SOL, etc) is now volatility, more so than value accrual.
Being able to trade that volatility onchain and without directional exposure is a big piece still missing from the way we play these markets.
(Coming soon to @backabledotbiz)
Want the details?
Our new docs cover how Pools set their thresholds from recent history, how payouts and late deposits work, and how Perps (MOVE contracts) settle on |close − open|.
Check them at: movex.market/docs
The house of volatility is coming soon to @solana
It’s hard to put into words how proud it makes me to have been a part of the team that picked Futardio up off the mat this summer and helped turn it into the absolute monster that Backable is about to become.
The Syndicate is only the beginning.
The Syndicate (@SyndicateGameHQ) ICO is now open!
Follow this link to participate: backable.biz/raises/EFUKEM6o…
Answer: @SyndicateGameHQ
Practicing Futargamy retweeted
t-75min until the @SyndicateGameHQ ICO
retention figures are v good even judging by the very best
they've been live for 19 weeks, and have generated close to $300k in revenue with 800+ players signing in to play every day
raised funds will be used to expand the game and market it to a broader, mainstream audience beyond the initial cohort of crypto-native players
roadmap includes a native mobile app for iOS and android as well as a seeker app for the solana dapp store and facebook free-to-play
watch this video and click on the raise page to learn more backable.biz/raises/EFUKEM6o…
