RaaS #475: Solana Crosses 100k TPS!

Jeff Yan Talks Hyperliquid, Ekubo Surpasses Fluid In 24H Volumes, and Moar!

Genesis is evolving. Virtuals is scaling its launch model to match top AI founders. New pledge tiers (21K, 42K, 100K VIRTUAL) meet a clean 15% float split: 7% to the community, 6% to liquidity, 2% to veVIRTUAL.

Kaito has streamlined the Capital Launchpad flow, starting with today’s RISE Chain’s Public Sale at noon UTC. No more signing docs later or risking partial deposits. Now: pledge your full amount, sign once, find out your final allocation, and get an instant refund on any unallocated amount.

CoinGecko names Bobby Ong as CEO, TM Lee as President, and Cedric Chan as CTO to scale enterprise offerings and meet rising demand for crypto data. The reshuffle marks a shift from founder-led ops to institutional-grade infrastructure, with a focus on growth, R&D, and reliability.

Hyperliquid’s founder, Jeff Yan, says they turned down all VC to avoid the “illusion of progress.” Valuation ≠ value. The protocol was bootstrapped from day one, with no profit motive, just a goal to rebuild finance with users, not capital, as the main beneficiary.

Did Smokey dirty here.

CLOBs always felt like the future, but infra kept holding them back. Fuel changes that. With EigenDA, parallel execution, and zk proofs, it enables fast, private, onchain CLOBs. And O2 DEX is first to prove it. The future of trading isn’t a CEX. It’s on Fuel.

Jason’s framing is optimistic and respectful, but the signals suggest more than a voluntary sabbatical. For a company of Story’s size, brand, and investor base, the absence of institutional communication is what speaks loudest. A founder transition is usually a moment to reassert vision, not to obscure it.

Solana hit 100K TPS, but most infra can’t keep up. LaserStream solves this with geo-distributed node clusters, replayable streams, and the fastest data via Solana’s top validator. Fault-tolerant, persistent, ultra-low latency, and free to try.

Hyperliquid has activated spot trading against multiple quote assets on mainnet. The first new pair, HYPE/USDT, was deployed by the USDT0 team, enabled via the existing HIP-1 deployment mechanism. This marks a key step toward generalizing Hyperliquid’s trading architecture.

Rome wasn’t built in a day.

Day 11 as Chief Betting Officer at Radarblock, and the Polymarket portfolio is printing green. Long live onchain prediction markets.

Ekubo just leapfrogged into the #2 spot among Ethereum DEXs by daily volume, clocking $463M in the past 24h, surpassing Fluid. It’s been setting ATHs weekly since late June, growing from $424M to $4.37B. Fee revenue just hit $100K for the first time since May ’24.

A wallet nailed 3 bottoms and 3 tops, confirmed by Nansen’s AI agent as “elite.” Using Mobyscreener and Nansen Pro, tracked this trader’s SPACECAT entry at 37K MC to a 14x. Good tools don’t remove risk, but they give you an edge.

The quietest macro threat to risk assets? Liquidity. The U.S. Treasury is about to drain ~$500B+ from markets to refill its cash reserves, without the buffers it had in 2023. Quantitative Tightening, weak foreign demand, and bank constraints mean this time hits harder.

Top Gainers: OMIKAMI, CONX, CLANKER, BIO, STRIKE.

BitMine now holds 1.52M ETH ($6.6B), claiming the #2 spot among digital asset treasuries after Strategy. Led by Tom Lee, the firm is targeting 5% of ETH’s supply. It added 373K ETH last week alone, betting on ETH’s long-term macro upside and AI’s shift to blockchain.

Solana DeFi TVL rose 30% QoQ to $8.6B, led by Kamino. REV grew 56% QoQ, and RWA on Solana hit $390M, driven by USDY and OUSG. Alpenglow aims to slash finality to ~100ms. Meanwhile, the Rex-Osprey ETF marked the first US-approved staking ETF, another signal of growing maturity.

Thiel-backed ETHZilla rebrands as a Nasdaq-listed ETH treasury firm. Now holding 94,675 ETH, it’s backed by Electric Capital and 60+ investors. The fund aims to outperform ETH staking with a new onchain yield strategy, signaling a more institutional turn in ETH capital markets.

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GMonday, that’s all for today!