02:04 Crypto Journeys: Soju and Zhen's Backgrounds 04:27 Understanding Meteora: Current State and Future Vision 06:49 Lessons from Mercurial: Token Migration and Community Support 09:30 The Trump Token Launch: Behind the Scenes 12:23 Positioning for Future Celebrity Launches 14:59 Governance and Vetting Processes in Token Launches 17:46 Dynamic Bonding Curve: Innovations and User Experience 20:39 Dynamic Liquidity Market Maker: Features and Advantages 23:24 Challenges and Future Developments in DLMM 26:02 The Role of MET Token and Community Alignment 28:32 Revenue Utilization and Buyback Philosophy 31:10 Metrics for Success: Focusing on Fees 33:45 Future Vision: What Will Meteora Look Like in Six Months? X: @MeteoraAG./ @0xSoju / @realdezen If you like this episode, you're welcome to tip with Ethereum / Solana / Bitcoin: 如果喜欢本作品，欢迎打赏ETH/SOL/BTC： ETH: 0x83Fe9765a57C9bA36700b983Af33FD3c9920Ef20 SOL: AaCeeEX5xBH6QchuRaUj3CEHED8vv5bUizxUpMsr1Kyt BTC: 3ACPRhHVbh3cu8zqtqSPpzNnNULbZwaNqG Important Disclaimer: All opinions expressed by Mable Jiang, or other podcast guests, are solely their opinion. This podcast is for informational purposes only and should not be construed as investment advice. Mable Jiang may hold positions in some of the projects discussed on this show. 重要声明：Mable Jiang或嘉宾在播客中的观点仅代表他们的个人看法。此播客仅用于提供信息，不作为投资参考。Mable Jiang有时可能会在此节目中讨论的某项目中持有头寸。

Show Notes: Chapters 00:00 Introduction and Background of Lighter 02:26 The Launch of Lighter and Its Features 05:25 Transition from Private to Public Beta 07:56 Trading Volume and Metrics 10:37 Open Interest and Volume Dynamics 13:31 Incentive Programs and User Engagement 15:56 Points System and User Behavior 18:42 Future Developments and Season Two 21:27 Verifiable Matching and Liquidations 24:09 Fee Structure and Token Philosophy 24:45 Retail vs. Professional Trading 27:12 Fee Structures and Trading Tiers 29:00 Latency and Advantages for Premium Accounts 32:43 Order Flow and System Verification 35:40 Single Sequencer Challenges 38:46 Auto-Deleveraging and Liquidation Processes 41:33 Criteria for Asset Listings 43:25 Community-Driven Regional Strategies If you like this episode, you're welcome to tip with Ethereum / Solana / Bitcoin: 如果喜欢本作品，欢迎打赏ETH/SOL/BTC： ETH: 0x83Fe9765a57C9bA36700b983Af33FD3c9920Ef20 SOL: AaCeeEX5xBH6QchuRaUj3CEHED8vv5bUizxUpMsr1Kyt BTC: 3ACPRhHVbh3cu8zqtqSPpzNnNULbZwaNqG Important Disclaimer: All opinions expressed by Mable Jiang, or other podcast guests, are solely their opinion. This podcast is for informational purposes only and should not be construed as investment advice. Mable Jiang may hold positions in some of the projects discussed on this show. 重要声明：Mable Jiang或嘉宾在播客中的观点仅代表他们的个人看法。此播客仅用于提供信息，不作为投资参考。Mable Jiang有时可能会在此节目中讨论的某项目中持有头寸。

Show Notes: 00:00 Sahej's Journey into Crypto and DeFi 01:41 Building Avantis: Vision and Strategy 04:40 Choosing Base: Strategic Decisions 07:12 Market Dynamics and User Engagement 09:48 Innovative Trading Models at Avantis 12:30 Liquidity Provider Innovations 15:29 Tokenomics and Community Engagement 23:42 Strategic Buybacks and Growth Focus 26:22 Balancing Token Holder Incentives and Team Sustainability 29:00 Innovative Staking Mechanisms and Risk Management 31:12 Leveraging AMMs for Unique Trading Features 34:12 Scaling Open Interest and Market Maker Incentives 37:10 Governance Dynamics and Community Engagement 38:46 Navigating Partnerships and Market Dynamics 45:05 Future Roadmap and Technological Innovations X: @0xSehaj / @avantisfi Website: avantisfi.com If you like this episode, you're welcome to tip with Ethereum / Solana / Bitcoin: 如果喜欢本作品，欢迎打赏ETH/SOL/BTC： ETH: 0x83Fe9765a57C9bA36700b983Af33FD3c9920Ef20 SOL: AaCeeEX5xBH6QchuRaUj3CEHED8vv5bUizxUpMsr1Kyt BTC: 3ACPRhHVbh3cu8zqtqSPpzNnNULbZwaNqG Important Disclaimer: All opinions expressed by Mable Jiang, or other podcast guests, are solely their opinion. This podcast is for informational purposes only and should not be construed as investment advice. Mable Jiang may hold positions in some of the projects discussed on this show. 重要声明：Mable Jiang或嘉宾在播客中的观点仅代表他们的个人看法。此播客仅用于提供信息，不作为投资参考。Mable Jiang有时可能会在此节目中讨论的某项目中持有头寸。

In light of the kick-off of Points Program Stage 3 of Aster I'm publishing this episode recorded on September 29, 2025 with Leonard, CEO of Aster, on Aster's value proposition, all things related to the token transparency, Aster Chain, and future plans 00:27 Leonard's Journey into Crypto 03:56 Defining Aster's Current and Future Vision 07:21 Aster's Unique Value Proposition 09:57 Governance and Decentralization in Aster 11:39 Leonard's Preference on Other DEX Products 13:39 The Dark Pool Design Explained 18:36 Tokenomics and Supply Dynamics 23:57 Genesis Stage 2 / 3 Points Program 28:16 Spot Trading and Liquidity Development 33:05 Postmortem on XPL Incident 35:31 Oracle and Tokenized Stocks 37:17 Token Buybacks Philosophy 43:04 Product Features and User Demographics 46:31 Aster Chain and Future Directions 51:02 Market Maker Program and Mobile App Development X: @LeonardAster/ @Aster_DEX Website: https://www.asterdex.com/ If you like this episode, you're welcome to tip with Ethereum / Solana / Bitcoin: 如果喜欢本作品，欢迎打赏ETH/SOL/BTC： ETH: 0x83Fe9765a57C9bA36700b983Af33FD3c9920Ef20 SOL: AaCeeEX5xBH6QchuRaUj3CEHED8vv5bUizxUpMsr1Kyt BTC: 3ACPRhHVbh3cu8zqtqSPpzNnNULbZwaNqG Important Disclaimer: All opinions expressed by Mable Jiang, or other podcast guests, are solely their opinion. This podcast is for informational purposes only and should not be construed as investment advice. Mable Jiang may hold positions in some of the projects discussed on this show. 重要声明：Mable Jiang或嘉宾在播客中的观点仅代表他们的个人看法。此播客仅用于提供信息，不作为投资参考。Mable Jiang有时可能会在此节目中讨论的某项目中持有头寸。