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Kuru Live! - MONAD-PORTAL ACQUISITION
Recorded: July 9, 2025 Duration: 0:47:19Space Recording
Short Summary
Monad Foundation's acquisition of Portal marks a pivotal moment in the crypto landscape, enhancing its stablecoin infrastructure and signaling strong growth potential. The recent fundraise further underscores investor confidence, positioning Monad for future success in the evolving blockchain ecosystem.
Full Transcription
Thank you. you I'm going to go. Let me know you feel the fire on your lips, boy.
I will fall and I just wonder what to do with us.
I'm the one who ought to die and I'm the one who'll light a time from where I go.
I'll be there. I'll be there.
I'll be there.
I'll be there.
I'll be there.
I'll be there.
I'll be there.
I'll be there.
I'll be there. Oh, yeah. I'll be there in the heartbeat.
I'll be there.
I'll be there.
I'll be there.
I'll be there.
I'll be there in the heartbeat. I'll be there in the heartbeat. Thank you. Yo, what's up everybody?
I know it might be a little early for you, Curzi, but it is like 3.30 p.m. to me, so
even though I'm kind of sleepy.
Hey, we're doing good, KB.
It is early, but it's not too early.
Everybody knows I'm a Midwesterner now, so it's just, what, it's 8.35 a.m.
I got a cup of coffee.
We got a Zen in.
And guys, we got a Monad acquisition on the morning.
This is crazy.
This is the perfect time to go live.
We're actually covering breaking news right now, KB.
This is huge.
Did you see that?
Yeah, slightly.
Portal, we acquired Portal.
We, yes, yes, we as a collective, the board of Monad has acquired Portal.
I mean, I don't know. I'm basically Monad.
So, yeah, congratulations to us. We acquired Portal.
Oh, man. What a morning. What a time.
This is actually big stuff. I'm actually super amped up about this. It's been cool. The team has been teasing some stuff over the last week.
I mean, I'm not going to lie. This has been a big week for us. So we announced
our fundraise on Monday. Just a big week for the eco, 100 so we can talk more about portal in uh in just a few
minutes here but yeah like just a huge well yeah okay i want to just talk about it right now but
i'm not going to dive right in just yet yeah kb you are traveling you're in europe we had the
grease nads meetup yeah there's so many things going on. This is a crazy week for Monad 100%. Grease and Ads meet up, Kuru fundraise, portal acquisition. This is a big week for the Nads, guys. We should be excited. We should be happy. I'm glad we've got a big crew with us today. Let's go, baby. Just what a day to be alive i see my uh i see my ghost writer uh there in the uh listeners
you know it's funny i asked nick to ghost write for me during like i actually asked him like just
write write some shit for me he's like no i was like whatever because listen it takes me a long
time to write i'm not gonna lie i mean i do it well i just have like really bad add and then
like everyone's like and then also it's just so hard when everyone's like DMing me like crazy but um
yeah so why don't you come up here Nick it is probably the worst time to be traveling internationally
like for just like all the announcements for like all the big days for work I'm just like, I feel so behind. It's kind of tough because I'm not going to lie.
Yeah. I mean, you have found yourself in a village in the middle of nowhere,
just as the world is just exploding all around you. Although we will take all of this good news
over the literal explosions that we had a few weeks ago. So that at least
is a good thing. We have upgraded to good news from bad news. Now, how will the market do
in response? Not sure, but doesn't really matter for us in a lot of ways. We are still
just patiently waiting for Monad mainnet, which guys, this is, I mean, this is an upgrade on. Okay. So I don't know if you guys
read the block works coverage of the portal acquisition, but Keone said main net very soon.
So I think that this is signaling a pivot for us guys. I think we need to throw the very in front.
It's not just soon. It's very soon. So that, I mean, mean hey i'll take that all day um that's awesome so we
are just loving life right now so good let's say hi to some of the speakers that we got up here
what's up zach zach i don't know if we've talked before but you are a mad lad and we're always
happy to have a mad lad up here with us so how's it going brother oh wow okay just like he's just like the bro's just
a cat he's just a cat that was like a huge that was a huge fumble for your first time on crew
live you had the whole opportunity to blow us away and you did the most like just i don't know i'm trying not to say the r word i'm actually
consciously trying to make a change and not say the r word but if i was saying the r word
that is what i would call you right now um let's go to nick cliche
so i did write the article i just want to put that out there you did not write
the article I didn't really give it my you did not you did not write the
article I wrote the article it took it took me a long time so I'm taking all
the credit also for the acquisition I don't know if it's just a rumor but I
heard the acquisition cost for Monad was $244 million.
Cozy, can you confirm that was true?
Oh my gosh, that's crazy.
Yeah, dude, this is crazy FUD.
Yeah, dude, Monad is no longer well capped.
They're on a shoestring budget right now.
They spent it all on portal
that would actually be kind of uh that would be kind of incredible they're like this is like a
last ditch effort no no no no no this is a this is a good move we are we are cruising no 244 million
the details were not shared i'm sure it was a reasonable sum, but Portal is cooking and we are cooking with gas
now with stable coins. This is big time. Yeah, no, I'm excited. That's crazy FUD from Nick Lachey.
Lots of news going on. I mean, I already thought that we were going to have a good show
because we had PumpFun ICO this weekend and the Phantom Perps plus Hyperliquid integration,
which are two big stories that we're going to need
to carve out time for all three of these i wish i was more familiar with portal i've only gotten
to read just a little bit about them in the time since we were about to go live i even had a call
at 8 a.m so we've just been getting after it on a wednesday morning but uh but yeah no it's been
it's been good but we'll'll, we'll dive in.
Maybe we've got some, if you're a portal expert, if you know, maybe if we could get the portal team
in here, that would be crazy. But, but yeah, no, we're doing, we're doing good. We're doing.
Yeah. Someone, someone tagged the portal team in the comments and get them on the space. And space and uh we know portal portal article coming here soon um with the uh ghostwriting
of nick lachey and posting on my uh my account uh let's go to jungji hello everyone yeah okay
anyway so um we're gonna continue no no we're not to continue. No, no, we're not going to continue. Yeah.
So I don't know where Nick was getting his information. That's fake news.
It wasn't $244 million.
I actually have the insider info because it's not super well known,
but Portal was actually my company.
So I think it's fine if I announce it here.
We were acquired for
eleven point seven million dollars funnily enough as the as the only you
know employee a portal it was just kind of a one-man job that's all in my pocket
now so that's pretty nice nice nice uh midweek bonus for me
but yeah any questions you have about portal i'm i'm here to answer them that's insane 11.7 million
this man says just to just to edge kuru just to get us by that that 0.1 million dollars that's
that's crazy man that's not you're not overtaking us as the biggest news of the week. That's insane.
I actually have it on good authority. This was first reported by OMG Nick Lachey. My sources
have confirmed it was actually for $246 million. Monad went into debt. They took out a loan to
acquire Portal. they're betting the
farm on this it's gonna be it's gonna be incredible no no no no no this is this is good
news we're celebrating man it's been fun i've okay i want to dive into the news but and look
i don't want to be too self-aggrandizing or anything like that but it's been really fun
to have our news about the paradigm raise out there.
Guys, we're just so grateful to you all in the community. It was so fun to do the space or the
stream on Monday. First of many, we're going to be doing more streams in the future, which is going
to be a lot of fun. I think KB and I might be jumping on camera a little bit more. We'll be
experimenting with some more different media formats and everything so excited to roll all of that out but i just want to say thank you guys we had over 2 000 nads on
the stream couldn't have asked for a better turnout and just the show of support and love that you
guys gave us again like we just couldn't have done it without all of you guys whether you've been
here from day one or are just getting started in the kuru community. KB put out a banger article that was not written by Nick Lachey just yesterday.
It got the Keone retweet.
KB, that's huge.
I hope you were pumped up about that.
I saw that this morning and it was juicing me up.
So yeah, maybe like KB, just take me through.
I mean, I know you've been traveling.
Life has been kind of crazy, but like what is the last few days kind of like the fallout in a good way been like for you?
How are you taking things?
No, it's been it's exciting. Yeah, the the Keone retweet today was pretty big.
My article has gotten more traction than a few of Toons's article.
traction than a few of tunes is article. So that makes me very happy. Because I was like,
you know, long format, people don't really have the attention span. And it is something that I've
wanted to get into a little more having reading some more articles and kind of like sharing my
thought pieces on that. And so I genuinely thought that like, that maybe this would get 50 likes, you know, but you
know, leveraging the paradigm, you know, announcement that I that's, you know, Daniel was actually the
one who pushed me to write an article. I was giving him great hairs. He's like, where's your
article? Where's your article? But finally, I was able to do it. And, and yeah, so it went really
well. Thank you, everybody for sharing and commenting and reading.
Definitely thank you all to the support
of kind of the OG Kuru community,
which would be Kuru community,
which is a lot of the OG Monag community.
I mean, we've been open,
we opened a Discord about a year ago this month.
It'd be a year this month
so kind of crazy um and it's just really nice to see who has been here uh for that year and then
obviously the community now i think we got like close to 5 000 new members yesterday i don't even
know um and and so yeah um i don't know i'm great very grateful. The NADS meetup, I think, was amazing.
And definitely very glad that I went.
Definitely full circle.
You know, it was John's first meetup.
It was John's first community meetup.
And I knew, you know, we had been on VC before.
But it's just so nice to kind of like
see everybody and put faces to like a Nick.
Um, Nick wasn't there.
We, no one even asked for Nick.
No one even cared.
Um, but we did see Jungi.
Jungi is not a dog.
He's not, it was a little disappointing.
He's also like a little too tall for me to even like pet.
So that was kind of like also a little disappointing.
Jungie's very tall.
Jungie's actually handsome.
He's a handsome man.
So, but he does also look like a golden retriever.
He has golden retriever vibes.
I see Cosma.
I miss Cosma.
I asked for you, Cos um and also diego down there
sapphire you know it was it's there's so many people in the community that you want to meet
um you know chaos was there that's okay he was okay no chaos super sweet um but i think it was
great because you had me g van and louis John. And that is essentially where the beginning of my monad kind of like journey began with the telegram chats.
And now you just kind of see where we're at a year later.
We're like in our respective protocols.
We're growing the ecosystem.
And then being able to meet everybody who's essentially supporting you throughout the
years or throughout the year um it was a lot of fun and i cry about traveling internationally a
lot i'm really not cut out for it so they should fix that um you know we should probably try to build new airplanes or something if crypto could like
build new airplanes i think we could really hit mainstream media media but um yeah
but yeah uh what else it's yeah i'm a lot of whack time zone is like fucking me up but um no i don't know that's all
i got real okay last my last question kb free before we jump into the news and everything
that's going on is just you've got i mean you described junkie very well slightly too tall to
pet handsome i already knew that i could just tell from his voice but uh but what was okay what is john w rich kid like
in real life i that i just i need i mean don't dox the man but you got to give us a little bit
more he's he's actually really chill yeah he's really chill he like is not distressing I'm a little
I'm like crazier than he is
yeah but he's
so nice and I love
John so much and we had so much fun
and he did really he did so good
like when we were at the meetup
and he was like on the mic doing
like the Milan doc giveaways
it was just so much fun.
He like, you know, you could just really see like the John W.
Rich kid persona, like come out like IRL.
Nice.
Yeah.
Oh man.
I love it.
I look forward to meeting John W.
Rich kid and just giving him a pack of diapers and saying, Hey,
this is for your personal collection.
My friend, you just take these and hang on to them
for me um yeah no what a guy i'm just a huge i'm a huge john w um fan so someday someday we'll link
up um yeah no no it's good okay okay all right i've got chaos walker up on stage now too um chaos
last um we'll say how's it going bro How was the meetup? How did you do?
I thought I was in stage all the time because Twitter is running me, but it's okay.
I actually speak also, but nobody heard me.
Can you hear me now?
Yes, yes, we can hear you.
Yeah, the meetup was perfect.
I had some depression until now that I heard KB talking and saying all those lies.
She called me just okay.
She said you were sweet.
That's kind of tough.
Yeah, because I drive here to McDonald's.
Yeah, chaos actually abandoned me and Karma in a random McDonald's in like in some like weird place
in like downtown Athens.
And we had like no way to get back
and we had to like wait for an Uber.
And like luckily,
like we got an Uber,
but Chaos literally abandoned me and Karma
at a McDonald's.
Wow.
The story is that
it was before you announced the raise.
Congratulations also about it.
So KB was telling something like,
we will have big news tomorrow.
We will have big news tomorrow.
And I was like, okay, maybe I should let you at McDonald's
to fill a form because you never know what will happen.
And yeah, I thought it was very sweet of me.
I like that.
It's kind of like a survival challenge.
You're like, you know what?
Yeah, if you want to live to see this big news,
I'm just going to drop you here, grab a Big Mac,
and let's just see how this turns out.
Yeah, yeah.
Oh, man.
No, it's big.
It's a big week, big day.
Oh, man.
Okay, we got Karma.
We just keep on adding speakers.
This is huge.
Far be it for me to complain about this.
Karma from the Monad team.
Karma.
Welcome, Karma. Welcome, Karma.
Welcome, welcome.
How was it?
Oh, yeah.
We got horns for Karma.
This is huge.
Karma, you survived the McDonald's being abandoned by Chaos Walker.
Kudos to you.
How was the Grease Nads meetup?
We got Portal today.
We got Kuru Rays on monday um yeah how are you
doing i mean this is a huge week we're just juiced up yeah it was you know like big week people were
tweeting about the big week they were just a week early today is the big week today is the big day
uh yeah the portal announcement has been absolutely huge. Similarly, congratulations on the raise.
Yeah, I think every single NAD in the ecosystem is feeling the good vibes this week.
Yeah, so true.
I think that the, okay, I feel like there's two dimensions to this.
And actually, kind of Kuru and Portal both touch on them, which is what's really cool.
It just seems like a holistically
great week for the nads like on one side you have again look we don't want to um you know like pat
ourselves on the back this is only the beginning we've said that from the very beginning but
kind of kuru you know this one of the first protocols launched on monad um kind of breaks
in some ways like this escape velocity. We get one of the best partners
in crypto, just so blessed and grateful, again, not just for our own sake, but for
being able to just shine a light on all of the awesome work that's being done
in the Monad Eco. I know that for our whole team, one of the real hopes of this announcement was
that it would create more VC interest and energy within the Monad eco just
to show that there's really exciting and cool things that are happening here and especially
for teams that are leveraging Monad's performance, speed, scaling, all of these things to build
things that have never been done before can never be done on other chains or at least on other
chains in an EVM compatible way that they're deserving of
funding. So that is like a huge win for us. But then also to bring in a project from outside of
the eco to, yeah, kind of acquisition, acquihire, some of the biggest brains, the former, I think
co-founder of Portal is going to be coming on to the Monad Foundation team as the head of stable coins and payments, which is just going to be a huge unlock.
We've all talked about and seen over the last few months the just kind of power product market fit drive that the outside market has seen.
The TradFi and everything with Circle and all of the energy that's been around that in terms of stablecoin adoption and this just being in its early nascent phases. And now Monad has this in
its back pocket, right, to just be able to scale and to be able to bring some of the best
infrastructure for banking, for payments, for settlement, for all of these things that we see
as like the real value, as not only the real value, a part of the
real value that we can offer in crypto, but even even the ones that like you can explain to your
grandma, right, or for me to your father in law, right, you can say, hey, this is so legitimate.
This is not like a gambling app that I feel uncomfortable, like telling my like 16 year old cousin to go and play around with,
right? Like this is just real infrastructure that can build out the future for businesses,
for regular people, for people sending remittances back home to eat wire transfers,
to eat credit cards, all of these things. And that will now be a part of the rollout of Monad.
It's just super exciting to see so i mean
karma just from like inside the monad team i mean you probably had some sense that this was coming
and uh not entirely your forte but still this is like right in the wheelhouse of you know nfts of
defy of all these things so maybe you could just i can put you on the spot and you just break down
a little bit more of how exciting this is um from behind the scenes and from your vantage as a member of the Monad team.
Yeah. And bear in mind, I do not want to take any credit.
There are absolutely incredible minds on the Monad team that, you know, made this acquisition possible.
I'm more of a spectator and admire myself.
But something I've been seeing a lot of is you know many of us
listening to this are non-technical so there will be many questions as to like why is this a big
deal in the first place so maybe this is something I can just briefly explain in very simple non-technical
terms and so imagine the two separate components? Like Portal is already a very accomplished company.
They power millions of dollars in daily stablecoin settlements.
And they provide SDKs.
SDK is like a plugin solution.
Think about it like this, like a little plugin.
And that plugin makes it easy for different, you know, Web2 companies, etc.
to add stablecoin payments to any types of apps any types of applications
without having to build that from scratch without having to really think
about all those payment rails on the flip side the second component is monad
right like monad comes and provides the infrastructure and integrates it all
into itself so you have high processing power super low fees and all of this is
full EVM compatible.
So now these two companies come together and that makes it very, very easy for any other business to integrate stable coins all in one stacked solution.
So I hope that this makes it a bit easier for everyone to think about it as a huge leap for Monad. Like this very much plugs in that missing piece of payments and stable coins infrastructure
on Monad.
Man, Karma, I mean, awesome overview.
I mean, we're, I think most of us here are non-technical.
We've got a few devs with us, but, but that's awesome.
And so true.
I think that just one of the, the coolest pieces of this is that now you're, I think that that's one of the coolest things about acquisitions is you're not just adding a company, but you're adding people, right? You're adding people that have been doing this, that have been in the trenches, thinking about these problems for a long time. And so now they're just brought into the fold. That is one of the things that I feel most fortunate about being a part of the
Monad ecosystem is that I think that Monad has clearly like a very strong and well thought out,
you know, community marketing presence, all those things. But I think that Monad has one of the best
institutional BD arms that we've seen in crypto right now, like shout out to Joey. I got to meet him when we were in Denver in February.
And just all of those guys, like, for instance, right, canonical USDC live on day one of Monad
Mainnet, like all of these are just tools in the tool belt that don't mean that, you
know, Monad is too big to fail or anything like that.
We still have to execute.
But basically, it's just providing all of the groundwork, all of the infrastructure, so that all of the app partners
and the chains and the chain itself has all of the tools in the toolbox that you could ask for
to be successful. And for a chain going live, those are the pieces that are going to be in
place that are going to parlay into a lot of the efforts that we can have towards Monad to millions, right? We're going to be able to build out a vibrant ecosystem
before mainnet is even live and then just carry that momentum on when we're trading with, yeah,
like, you know, real bucks, real, real pay, mon or whatever. If that's even a real asset,
we don't even know, right? But yeah, just when we get to those points, we'll just be able to have
all of the tools in our tool belt.
So that's just super exciting. And I can't wait to learn more from the team and from the portal side about just like going a little bit deeper on all this,
because there's just an awesome, you know, like flywheel effect.
I think that this will be able to create both for, you know, someone like us right at Dex,
where stables are going to be so important to the work that we're able to do, right, providing efficient stable swaps, and maybe some
of the cheapest options that you can have to move out of, say, like your wrapped ETH, or your MON,
or your even wrapped Bitcoin, or SOL, or things like that. That'll be a huge use case for Kuru
from day one. And so I'm sure we'll be leveraging all of this portal infrastructure and for
businesses to come on chain. Yeah. Okay. I don't need to keep rambling,
but this is just exciting stuff. So I am, uh, I'm truly,
I'm truly juiced up. Um, yeah, no, this is, this is awesome stuff.
I mean, uh, can definitely open it. I would love to, I mean, Nick,
I would love Nick. You are one of, I would love, Nick, you are one of our more quant friendly friends from the Quantardio community. And so I wonder just like, what was
your initial reaction to the portal news? Had you interacted with portal at all before? Or yeah,
just like, how are you kind of taking the news? I haven't worked on the portal side or looked at
it at all in terms of using it.
But I think what we can learn from it is that if you're looking to get acquired,
you should make your logo look as much like the company that's going to buy you's logo.
And that's really the key to getting acquired. And if you look at Portal's logo, it kind of is very similar to Monad's.
And from what I know like that was half
the reason why they got acquired um but no i think the stablecoin payment side was a gap right that
everyone was a lot of people were asking about especially with the stablecoin side being such
big news right both on the tradfi side with circle and usd side and then also with things like plasma
and all the other kind of usdt related items so you know monet had gone down the route of having
other announcements related to uh chain usage state point usage right on its platform but i
think this bring it in-house is the big part um it gives them sort of a clear direction and also
obviously as you mentioned someone to run the side so i think it's it's great i think it's great for house is the big part. It gives them sort of a clear direction. And also, obviously,
as you mentioned, someone to run the side. So I think it's great. I think it's great for two reasons. One is that the payment side is huge. It's a necessary kind of conduit for easy access,
easy entry and exit. But on the bigger side, I think it shows that when... I think there's been
a lot of FUD, right, around the fact that Moda was probably one of the last L1s
to get, like, this massive funding, right?
And people are always asking, like, what's the point of that?
Like, it's net negative.
Companies don't need funding.
And I think to some degree, like, the reason why funding is good
and it's probably the same for Kuru is that you can do things
like acquisitions.
You can do components that kind of fill out the puzzle pieces that allow your ecosystem
to have the best chance for success. So I think it just shows that they're working behind the
scenes and kind of are looking at where the gaps are. And you can build your way, like anyone that's
worked corporate, you can build your way to a certain level, but you also have to buy your way.
So build and buy have to be a combined strategy to get bigger.
You're never going to be able to build everything because once you get big enough, you have to buy stuff.
You can't then refocus all of your efforts on something else and grow your team indefinitely.
So the build plus buy strategy is key.
And I think this fits with the narrative.
This fits with what was needed.
So I think all of that's bullish.
And then I think it also shows sort of where they're probably hedging a little bit as it
relates to stablecoins in particular, especially because Monad's USA located.
So, I mean, that's kind of assuming, right?
I think they'll try to make probably the
stable coin side available across the board they've mentioned usdt but this fills out the usdc side
right so i think um that's all good i think they're sort of prepping for a world in which they
operate as home base so um yeah it's all positive but i think the main thing is just the logo side, right? So I think that's what we can really learn from it.
You are an animal, Nick Lachey. You are crazy, but that was great analysis, all the same, and it's so true.
I think that that's something that we did get to talk about it on the stream, but I will just bring more people up to speed. I know for us at Kuru, like with the paradigm fundraising and everything, that's one of the biggest value unlocked, right?
We got funding.
We got runway.
We'll be able to grow our team in a thoughtful way to be able to add a quant, able to add more engineers.
Even if you were paying attention to Keone's announcement, to be able to bring on some mobile developers, That's going to be huge. I think that people were excited about that announcement. I for sure am having seen the
early iterations of Kuru on mobile. But additionally, when you bring on a firm like Paradigm for Kuru,
like one of the biggest things that we get access to are all of the minds that are working there,
right? Because Paradigm is not just an investment firm,
but their VCs are all active in the research community, right?
They're helping to build out Uniswap.
They're doing things that are innovative
and always putting out new product offerings.
They're in the trenches thinking about how design
and all of these things can work together.
And so for us, that's just one of the coolest
unlocks is that now we have these people in our corners. I know like, for instance, today,
Dan Robinson is going to be testifying before the Senate on why DeFi should be allowed to
proliferate and to be able to be fit into a market structure bill, right? I remember being on early
calls with Paradigm and just being so excited that there was like we were literally talking to Dan Robinson about like the AMM club design that we have going into Kuru.
Right. And now this guy is going to be testifying before U.S. senators to help him get market structure and all these things put into place at a national and legislative level.
and legislative level. So that's just going to be huge, I think, for the direction that Kuru goes
moving forward as we continue to try to make the app as good as it can be. And I actually just
clicked into the Monad portal blog and I'll just read a brief clip here. This is really cool. So
this is just from the first paragraph. Excited to share that the Monad Foundation has acquired
Portal, a leading stablecoin infrastructure provider. This combination brings a full stack payment solution to Monad, a high throughput layer one blockchain. Portal CEO and
co-founder Raj Parekh will join the team as head of payments and stablecoins. This is so cool, guys.
Raj was previously a founding member and director of Visa's global crypto product, and he brings
deep expertise and leadership and payment networks,
stable coins, and on-chain finance. So that again is just one of these functions of,
this is somebody that's brought, he's been brought on, he's an ad now, Raj is an ad,
and he's been added to the family and is going to bring this deep expertise and experience building out for like a legit payments provider in terms of
visa all of the integrations and infrastructure that we're going to need to be able to succeed
so it's super exciting and uh and awesome and so yes today's the day to celebrate i think that this
is a week to celebrate for for the monad eco so it's been it's been a ton of fun sophie sophie what's up we've got another friend from the monad team sophie how are you doing big day
i just love to celebrate you know i would say that celebrating is like one of my core competencies
and and there's always so much to be excited about you know um i agree I think logos are so important.
We love a good logo.
I'm mostly here because KB is online and she's in Europe. And so I was just excited to see her awake.
Yeah, that's mostly my whole update.
I'm on my way to get my foot x-rayed again this morning.
So just in the uber
how's your uh how's your foot are you healing okay yeah i just feel like you know harry potter
lost all his bones and i get that regrowing them back was slow but like mending them is also much
slower than i would have wanted you know like they have to like
grow back into each other which like i get it but it's like pretty irritating to have to wait
wow incredible harry potter reference sophie that that is awesome that's a good that's a good bit
right there but uh i hope i hope your foot's okay, Sophie. I hope that it does.
It's going to be fine.
It's just broken now.
Like, you know, bones be snapping.
Yeah.
But otherwise, I'm, like, very excited about it. Oh, my God.
I didn't even get to, like, huzzah you for the raid.
That's so exciting.
Woo.
Those are my comments.
I got a woo for you. I got a woo for stable cons. I got a woo for you i got a woo for stable cons i got a woo for portal
oh yeah big woos so true this is a day for this is a week for woos this is woo week if you ask me
i used to have i used to say woo all the time when i was in college i gotta say the older i get i
have moved away from the woo but every once in a a while, you just got to hit the woo.
I don't know.
Like, have you ever been out with your girls and you've all wooed together?
You know, that's pretty spectacular, one of a kind experience.
That's so true.
That might be because one of my core competencies is not celebrating Sophie.
But I admire people who have that in their bag.
And I think that you do in spades.
I'm not often that I'm out with,
you know what?
I take that back.
I am out with my girls a lot.
My girls may happen to be my wife
and a one and a half year old lady.
Go with the woo ready ladies.
No, that's so true.
That's so true.
My daughter is probably more like blah, blah, blah, blah,
which is, I'll take that as a woo.
That's close enough. Also, I feel like babies give you continual things to woo about you're like woo my kid boobed like
woo my kid ate something like woo my kid took a step like big woo energy so true so true i will
will teach her she's uh she's close to repeating uh words and everything so i'm gonna make her a blue babe that's gonna be
that's gonna be the next step for us i think that's awesome that's funny um also i want to
just reiterate shout out joey joey is um just one of the i could say this about so many people on
the monad team but he just like sits at his desk grinds all day and like I want to interrupt him more to woo, but he looks so locked in, you know?
No, right on. When you meet, when you, like, I mean, I met Joey for like two minutes. He probably
doesn't even remember me. He did come to the, um, Kuru party. Um, shout out to everybody in
the club getting tipsy. Um, I only woo at the club these days. So true. So true.
The club is made for wooing.
But I met Joey and just sometimes you meet people and you're like, oh, you're like a player.
Like, oh, you get like you get after it.
And and Joey, Joey gets after it.
True of so many Monad Foundation team members as well.
I agree.
I agree.
But but yeah.
OK. Lots of big news on the
docket i feel like we need to move we'll stay in um the the monad eco in a tangential way with
phantom guys this is huge news i'm actually like really excited to break this down with you guys
now you guys probably heard yesterday that Phantom announced Perps offerings in their
native mobile app powered by, guys, this is crazy, powered by Hyperliquid. So Hyperliquid is on
Phantom Wallet now. And literally, I think that this is so interesting, prescient,
exciting. I don't want to say concerning, maybe only concerning because
I'm like, we've just opened up every retail person that we've been that we've been like,
hey, just go on Phantom. Like it's the best place to get onboarded to crypto. And now it's just like,
boom, 40x leverage like you can get like you can get liquidated. But that's the real crypto
experience. I love it. And it's available now
in a mobile expression and it just plugs right in. I think that if you were launching a perps
offering, especially if you were trying to go strong mobile, you're not like shaking in your
boots right now, but you're like, wow, one of the biggest players, I think probably the biggest and best player in the mobile wallet sector is at least coming to try to eat your lunch right now and I think has a lot of opportunity to be able to.
This is really in line with Hyperliquid's vision of trying to become the global liquidity layer for crypto, which obviously, you know, Kuru and other clubs and DEXs and things like that will try to
have something to say about it. I'm bullish on that. But Hyperliquid is just executing at the
next level right now. And so this has been a big piece of news that we got yesterday. And so I
wonder, like, has anybody gone in and tried to play around with it? Early initial thoughts on
this. It's a big product development. So we can dive into it. I don't
know. KB, what did you think? You got perps on your phone now. You got perps in Phantom.
Yeah. How are you taking the news? Please, no. Get this away from me.
I think it's interesting that Robin Hood had announced essentially their perps and now
Phantom's like, fuck, we've got to announce our perps.
Feels like it's a good race to everything.
But yeah, I don't know if perps is like the onboarding mechanism for the future.
But, you know, whatever we can do to extract money from the masses.
Okay. Oh, well, okay. Slightly slightly pessimistic but i hear you i think that's uh
i mean fair take um i'm just being i'm just being realistic i mean like you know i think it could be
fun like if people play around with like you know money they can't lose like maybe but i feel like
that should be you know the phantom right like? Like I'll hook around with time-ups. Yeah.
I think that one of the cool, so like Phantom, I would say has dominated because they actually care about UI, UX and they've done a really good job.
I think of cultivating a product that offers that.
And there are cool tools that like, you can just like press a button and basically like,
I only saw this in like their product offering video. So I haven't played around with it as much as I would have liked, but you can just like press a button and basically like I only saw this in like their product offering video.
So I haven't played around with it as much as I would have liked.
But you can set like conservative stop loss and take profit positions like with just one click of the button.
So like there's like little easy things that you can do to make the experience not as maybe like degenerate.
Right. And what I think is interesting is that you're right, KB,
this has come on the heels of Robinhood and Coinbase
offering perps within the United States in a regulated way,
although with far lower leverage being on offer in that way.
And they're also known, I mean, especially Robinhood,
known for having good UI UX.
And so those are strong competitors that you're taking on, but it feels to me like the conversion
of the typical phantom user to playing around with perps in a way that's just seamless, right?
You don't have to go to hyper liquid. You don't have to turn on a VPN. If you were to do that,
if you're in the United States, um, which is, I don't know that turn on a vpn if you were to do that if you're in the united states
um which is i don't know that i recommend that but you could do it um or if you're in the rest
of the world you could go to hyper liquid and play around with it but you can just go it's just in
it's just in the app it's just native it just lives there so it's just really easy to be able to get
access to this and it is one of the core primitives of crypto and so I feel like that type of user
base that phantom has is probably quite likely to play around with this right if you're if phantom
is being used by so many people to like eight pump fun coins in a way that's really easy because
they have their discover page where you can see runners you can go in you can swap natively in
the app you eat kind of a big fee but people don't tend to care about that because you think
you can get a 10x out of it.
If you're in the trenches for the sake of growing your money at a faster rate than you
can by maybe like dollar cost averaging into SPY, then you're probably the type of person
that's going to at least take a look at perps.
And yeah, so i think that this is
just a big it's a it's crazy man this is a this is a wild offer i was not expecting that and so
i think it did catch me a little bit off guard but it's a cool yeah i i think if i were to do
perps i probably um would explore phantom because i definitely wouldn't do it on like Robinhood or Coinbase. As a user, like here, I'm not really speaking on like, you know,
outside of the Web3 bubble.
So I feel like, I have a question.
So it's powered by Hyperliquid.
Are we using Hyperliquid for this?
Are we using Sol?
Like how does that work then?
Like does Phantom have Hyper have hyper liquid in their wallet
kind of so if i if i understand this correctly this is basically enabled by not just hyper liquid
but also hyper unit which is built by shoku and his team hyper unit is the spot layer for Hyperliquid, essentially.
So what they do is they have sole that is native to Hyperliquid.
And so you're tapping into both that liquidity and Hyperliquid, Hypercore, which is like the Perps product.
So you're tapping into both of those through Phantom, essentially.
So I do think it's occurring on Hyperliquid,
but Phantom is basically just like abstracting all of that away for you to be able to,
yeah, just like go in and trade perps seamlessly.
And pretty clearly, at least as it stands right now,
it is the best perps offering that we have kind of by far, I would say on, um, on chain. And so, yeah,
it just allows you to tap into it with a few clicks of a button, but yeah, it's happening
on hyper liquid. So it's pretty wild. Uh, pump fun. I see what details are allowed by the way.
It just, it all came out about 10 minutes ago. Whoa. Okay. Nick, can you, can you, okay. This
is the other thing that I wanted to talk about. I mean, anything notable or what, anything stick out to you? Because I would,
