本期摘要： * 你们说自己“在发明一种爱好，类似没有滑板的时候在发明滑板或者巴塔哥尼亚那个哥们在从头发明攀岩装备。”你们怎么告诉别人Funes是什么？ * 复杂的爱好是一种商业模式，需要成立公司来运营和发展 * 谁最需要你们？谁是你的长期社区成员？ * 怎么找到这些最初的核心用户？ * 从重轻的文字里读出来你并不喜欢元宇宙这个概念，是因为虚假和幻觉么？ * 元宇宙批评之我真的没有故意把重轻放在火上烤：真实的世界是复杂的 * Funes的每个合伙人写了一篇关于Funes的文章。可达那个让我印象很深刻，说的是关于他的教授言传身教让他们做考古研究观察这个世界时不要有预判和分别心。所以我很好奇，做3D模型以后有改变你们看这个世界的方式么。 * 在美国锈带和土耳其的经历 * 通过网上冲浪找到的废墟网站及通过这些冲浪拍到的莫名其妙的东西 * Funes是一个内容公司，再聊如何找到社区核心成员 * 关于Funes潜在的激励网络（相信我这段对话一定不是你想的那样） 模型链接： （苹果手机可以直接在网页中观看 AR 版，如遇卡顿可用电脑打开） [路边杆子上的飞车 A Car on A Pole in Bethlehem Township](https://funes.world/models/#ACarOnAPoleInBethlehemTownship) [高速旁的巨大鳄鱼 "Saint" Alligator Bonfire](https://funes.world/models/#SaintAlligatorBonfire) [辽中京大名塔，Funes 一开始想扫描的类型：辽塔](https://funes.world/models/?q=dam#DamingPagoda) 这个汉洋不记得提到没有但是来都来了就放上去吧：[七台河的筒子楼](https://funes.world/models/?q=qita#KhrushchevkaInQitaihe) Blog（发刊词）: [丰泽：我为什么加入 Funes：为我们铁证如山的未来](https://funes.world/blogs/index.html#why-i-joined-funes/zh) [可达：细密的人间](https://funes.world/blogs/index.html#cosmos-in-detail/zh) [汉洋：张昭的题记](https://funes.world/blogs/index.html#zhang-zhaos-story/zh) [徐缓：从无数个念想开始](https://funes.world/blogs/index.html#staring-from-a-thousand-of-wishes-by-huan/zh) [轶轩：风铎的声音](https://funes.world/blogs/index.html#the-sound-of-wind-chimes/zh) [重轻：Funes 在筹集什么？](https://funes.world/blogs/index.html#what-are-funes-gathering/zh) [可达、重轻和汉洋的播客《山有虎》，各大泛用型播客客户端都能搜到，他们接下来也会基于模型做节目] (https://shanyouhu.xyz/) Twitter（X）：@HanyangWang / @Funes_World 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 this episode I had the CEO of Backpack, Armani Ferrante on. It was a great conversation in their Tokyo office. Our conversion covered from his view on centralized exchanges to what he thinks of non-custodial wallets. We also discussed a lot beyond the business of Backpack. If you're interested, you should tune in yourself! Show Notes: * The background of Armani, and the history of Backpack * What does a FTX-shaped hole in the market look like * How and why important centralized exchanges are to the industry * Congratulations on your public beta that was announced 2 weeks ago. Since the launch, what were the exciting updates? * You guys have been working hard long before this Public Beta. What were some of the preparation work? * The pivotal licenses to acquire * The important markets for Backpack * Web3 teams in the US under Trump administration * Institution volume vs retail volume * Mobile experience of Backpack - no separation of the wallet and the centralized exchange * Account abstraction wallet as an ultimate solution for the inconvenience led by self-custody * Backpack Exchange’s roadmap in the next 6-12 months * Learnings from FTX: being normal is underrated - "be a redwood" * Coinbase is a role model * Base as a community and L2’s centralized sequencer challenges * The next page of NFT - status signaling and digital life matters X: @armaniferrante / @Backpack Website: https://backpack.exchange/ 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。

本期邀请到了ELIZA OS白皮书的联合作者Sam Gao给我们唠唠他写作关于 AI 人物史传记的心得（这期不是特别Web3），对于AI科技史上重要人物的故事有兴趣的朋友可以一听～ p.s. 这一期其实二月中旬就录制了，但是一直没来得及剪辑放出，致以歉意～ 本期概要： * 自我介绍 * 给听众介绍一下之前写过的那本《青稞.人物志》 * AI 领域的大神里面成名之前的人生故事 * 现在特别早期的一些尝试里面我们能看到AI 项目会利用Web3的激励网络来做人类资源的调度。你觉得 AI和web3的两条线会是一个怎样的发展趋势和线程？ * 你怎么看Minimax的创始人闫俊杰说的“在现在这个阶段为了产品化对技术进步作出牺牲不可取“的这个观点？ * 2025年很多人认为是 Agent 之年，甚至比如零一万物的创始人李开复会认为今年是AI商业化的关键一年。从你的角度，你怎么看Agent？ * 如何看待Web3背景下AI Agent 25-26年的发展？ * 你会想要投资怎样的创业者？ * 很多开发者对于Eliza v2 的发布都比较关注。Eliza v1 的一些问题，和v2 作出的优化 Twitter（X）：@samuel_ys92 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 this episode I hosted Chaofan from Solayer - I learned something new about Solana validators in this episode! Dive in and learn about how Solayer scales, how it works on sandwiching, and how they view talents. Show Notes: * Your background and journey to Solayer * Is it possible to run the same thing on Ethereum with Solayer’s approach? * Compare the technical approach of Eigenlayer with Solayer? * In your 2025 roadmap, why did you decide to expand from a restaking protocol to a hardware accelerated SVM Chain? * How does the end user experience look like? * What other blockchains, from a technical standpoint, would you compare and contrast yourself with? Do you consider yourself an L1 or L2, or does this differentiation matter? * How does Solayer push 1M TPS state sync efficiently to thousands of nodes * It is mentioned that solayer made use of state of the art AI technologies in accelerating the chain. Can you tell us more about it? * Users are sandwiched while trading on Solana with some losing millions of dollars. What’s your view on this and how does Solayer plan to address this problem? * How does this roadmap tie to the issuance and circulation of sUSD and sSOL? * What’s your personal take on SIMD-228? Why did you guys decide to sell 10% of your SIMD-0228 vote on Meteora? * Why do you guys do quite a bit lot of “public good” works that may not necessarily directly benefit Solayer? For example trying to save the fund that 1inch’s MM got hacked and in some other cases you tried to publish the details of security incidents * I saw that you are hiring a security researcher for 1MM a year. Is that real? 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。

本期概要： * Huma 是什么，它的商业模式？“PayFi”的理念是什么 * 传统 DeFi 借贷多以超额抵押加密资产为主，而 Huma 提供基于未来收入或应收账款的融资。你们的核心借贷机制是如何实现的？与传统借贷协议相比有哪些创新之处？ * Huma 此前与跨境支付服务商 Arf 完成了合并，获得了更强的合规资质和全球支付网络能力。这项战略举措对你们服务现实金融场景起到了怎样的作用？Huma 如何将 Arf 的优势融入自身平台？ * 在风控和清算机制上，Huma 如何保障借贷的安全性？能否介绍一下你们的风险管理模型以及发生违约时的清算流程？ * 你们近期推出了 Huma 2.0，请问能讲讲这个升级主要包括哪些方面吗？ * 你怎么看Defi 协议大家很在意的TVL？你认为用 TVL 来作为参数评估一个协议的优势和劣势在哪里？ * Huma 协议设计了怎样的代币经济模型？HUMA 代币的主要功能定位是什么？ * 在更多现实世界资产（RWA）与链上金融融合方面，Huma 有怎样的战略规划？ * 未来在多链部署上有何规划？是否考虑扩展到更多公链？ * Huma 在创业的过程中，有没有什么一些应用场景是原来没想到，被用户需求激发的？ * 在Web3 创业的一些心得和感受？ * Huma Finance未来会开放给更多的应用在上面建设吗？ X：@humafinance / @DrPayFi 网站：https://huma.finance/ 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。

这期里面Sidekick 联合创始人 Jonny 展现了自己非常真实的一面，听了之后你就会理解这个团队的一些过人之处～ 本期概要： 1. 团队背景 2. 最开始进入直播行业的历程：从网鱼到比心 3. 创业路上一次又一次的挫折：疫情、俄乌战争 4. 目前在sidekick上的直播流程和体验 5. 在推特上或者做私域社区很优秀的KOL，未必是好的主播。好的主播需要什么特质？ 6. 目前势头在往上走，做对了什么 7. 流量和买盘是一个东西吗 8. 长期Sidekick的愿景？ 9. Sidekick 是怎么考虑自己做交易的 X: @HeyfishYC / @Sidekick_Labs 网址：https://sidekick.fans/ 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。

I really enjoyed this conversation with Serpin Taxt, the cofounder of Ethos Network. Please note that this episode is recorded a month ago, so the information may be a bit delayed (sorry I was busy this month). Show Notes: * Early background and how Ethos got started * Review and discussions around Friend.tech * About negative review and slashes’ long term impact * The product overview * Scoring algorithm and its openness * Ethos’s incentive alignment design * Views on multi-chain * The potential demand of cheaper blockchain costs and the problem’s outlook * Potential DeFi integration in the prospect * The discussions about newly proposed rules * Cold start and high quality user acquisition problem Website: https://ethos.network 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。

00:00 Introduction - Kyle & Forward Industries 05:13 Investment strategies & Why Kyle believes that the convertible and perpetual preferred structure works far better for a SOL DAT 07:54 SOL acquisition opportunities (from whom the SOL are from?) 10:22 Governance role and management team building 15:46 On chain yield strategies 18:27 Latest Take on SIMD-228 - an updated view on Solana native yields 24:12 Evolving perspectives on DATs and understanding the SEC Vision 25:22 Solana's infrastructure for global securities trading 27:50 Internet Capital Markets 28:54 Entertainment Finance: The next frontier; Pump & Kalshi 35:00 Some misses in the past three years 41:32 The job is not done Website: Multicoin.capital X: @KyleSamani / @fwdind 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。

I haven't caught up with Santi for a while. In light of his recent raise I invited him for the first time to HODLong. In this conversation he shared a lot of his thinking about why he hop on to the founder seat and built Inversion. Full of genuine takes and insights - a highly recommended episode. Inversion is hiring! 00:44 Santiago's Early Interest in Crypto 05:07 The Challenges of Startups in Crypto 07:54 Inversion: A New Approach to Business Efficiency 11:14 Defining Inversion for Non-Crypto Users 15:19 Targeting Telecom and Financial Services 20:19 Interoperability and Existing Crypto Companies 26:36 Acquisition Strategy and Market Dynamics 36:08 The Future of Consumer Adoption in Crypto 36:53 Investor Dynamics and Strategic Partnerships 41:25 Acquisition Strategies and Business Integration 44:44 Target Markets and Regional Insights 49:53 Building a Sustainable Business Model 52:25 The Importance of Timing and Market Readiness 55:42 The Transition from Investor to Founder 58:24 Ego, Confidence, and Leadership in Entrepreneurship 01:03:41 Mission Alignment and Team Dynamics X: @santiagoroel / @inversion_cap Website: https://www.inversioncap.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。

Note: there was a small piece (about 5 mins) missing from the recording (yes, sorry, Yoaquim rugged - he didn't finish uploading xd). If you want to see the full livestream, please go to: https://x.com/Mable_Jiang/status/1971575903491940630 01:34 Transition from VC to Building 04:22 Discussion on Quanto and Migration from OX 07:13 User Experience and Team 09:35 Handling User Funds 10:17 Choosing Solana as the Main Venue 12:28 Recent Market Events and Community Response 15:23 Design and Functionality of Quanto 18:05 Proof of Reserves and User Verification 20:35 Withdrawal Processes and Risk Management 22:22 Tokenomics and QTO Flywheel 31:13 Future Plans and Partnerships 34:02 Market Expansion and Asset Listings X: @yqboom / @quanto Website: https://quanto.trade/en 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 this hyper-casual episode (probably one of the most casual episodes I've ever had 😂) I invited Ogle to talk about all things Glue and America.fun 00:00 Introduction and Ogle's Introduction 03:58 Exposing Industry Crimes 06:57 The Vision Behind Glue 09:15 User Acquisition 11:41 Bring Older Generations into Crypto 14:44 Glue's Onboarding Experience 17:13 Technical Architecture and the Use of Substrate 22:44 Future Plans for Glue and America.Fun 33:47 The Unique Features of America.Fun 36:42 Relationships in the Crypto Space 39:39 The American Ethos and Its Impact on Business 45:14 Project Launch Strategies and Community Engagement 52:16 Criticism and Haters in the Crypto World X: @cryptogle 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。