Turbanator 🎒

Blockchain enthusiast, crypto hodler, and NFT collector. Passionate about decentralization and the future of finance.

[Armani Ferrante @armaniferrante]

View all insider transactions for all stocks--straight from EDGAR filings--on @Backpack

[Armani Ferrante @armaniferrante]

Not sure if you saw this (and I'm biased of course), but I would argue @Backpack Securities is an extremely important milestone and hugely substantive. It's the first time in history where you can build native onchain @solana DeFi stock markets that can arb and keep prices in line with Nasdaq at the speed of a token. The first time where you have a real, genuine, 1:1 redeemable mapping between a token and a security entitlement--and you see the consequence of this directly in the liquidity on the network 24/7. No other tokenized stock or network has this right now. https://t.co/52VrKJ8yek

[Backpack 🎒 @Backpack]

JUST IN: SpaceX has officially joined the Nasdaq-100 just 15 trading days after its IPO.

[Backpack 🎒 @Backpack]

Backpack EU has secured its MiCA license and Payment Institution license from the Bank of Latvia.

Combined with our MiFID II license, Backpack EU is now tri-licensed across crypto, brokerage, and payments.

This milestone strengthens our ability to serve users across all 27 EU member states while upholding the trust, transparency, and regulatory standards required to connect onchain and traditional financial markets.

[Backpack 🎒 @Backpack]

No fees on stock trading through July.

We’re keeping access to US stocks frictionless as Backpack Securities accelerates, with major brokerage upgrades and more tokenized securities on the way.

Trade real stocks: https://t.co/HCyv2HgKs3

[Armani Ferrante @armaniferrante]

new dividends tab is live on @Backpack web

[Backpack 🎒 @Backpack]

Issued by Backpack Securities, $SNDK is now live on @Solana with @sunrise.

Official token address: SNDKbwMUQvZhnLnxLduradgLHG5KrPuKwpnrkkGRhfH

$SNDK is redeemable 1:1 for real Sandisk shares and transferable to traditional brokerages.

[Armani Ferrante @armaniferrante]

Surprises me everyday how little people care about this. You would expect there to be 10x more scrutiny than there is today.

[Mad Coach◎🎒 @SolanaCoach]

And always the only real proof of reserves updated everyday.

Compliance. Liquidity. Security. Execution

@Backpack .

[Backpack 🎒 @Backpack]

Issued by Backpack Securities, $MU is now live on @Solana with @sunrise.

Micron reports earnings on Wednesday after the closing bell. The results will be a major test of the AI memory boom, with $MU tradable 24/7 on Solana as markets react.

$MU is redeemable 1:1 for real shares and transferable to traditional brokerages.

[Armani Ferrante @armaniferrante]

@0xamericanspiri No this is wrong. You can transfer out to any other brokerage. Everything coinbase is trying to do we’ve already done.

[Avantis @avantisfi]

ICYMI: $AVNT systematic buyback and burn went live last week.

In <7 days, ~250,000 AVNT have been bought back and burned.

Users can track and verify buybacks here: https://t.co/mRgTDFWa02

[Armani Ferrante @armaniferrante]

Zcash next 🎒

[Avantis @avantisfi]

https://t.co/PVeMFTr3wo

[Backpack 🎒 @Backpack]

Token or Equity? "YES."

Users get priority allocation when Backpack IPOs - earned through stake, time and usage.

Don't choose. Yes to both.

[Turbanator 🎒 @Drish1978]

@armaniferrante 🎒

[Armani Ferrante @armaniferrante]

I didn't come into crypto 9 years ago to launch a shit coin.

I didn't come into crypto to get rich quick.

I came into crypto because I believe it's going to change the world, and that the industry was something worth dedicating my life to.

But somewhere along the way, amidst the booms, the busts, the moonshots, the decentralization theater, and the straight up scams, we lost our way.

I don't know about you, but I'm just tired of false promises. And that's what most things are today, simply promises. We live in the most centralized era crypto has ever experienced, and the more centralized something is, the less meaningful a token is.

While it's tempting to want to commit to these same promises, what happens if the team gets acquired? What happens if we want to re-invest into growth? What happens if we divert our time, energy, and resources out of band and circumvent the token altogether? What happens when the team and investors unlock? For many projects, the honest answer to these questions is not pleasant, and you see it in the price chart over and over again.

Unless something is completely decentralized to the point where an immutable protocol can function with the team having retired in the Bahamas sipping pina coladas all day, then utility is just a promise. Often that promise is admirable and well intentioned--but ultimately an unenforceable promise nonetheless. Outside of BTC, ETH, SOL, and a few others, nothing really passes this test. Noble new token models have emerged to solve this problem (shout out to MetaDAO), and today, we introduce our own.

Users that stake the Backpack token for at least a year will have the opportunity to exchange those tokens for equity at a fixed ratio--20% of the company today.

It's such a simple idea, but as far as I'm aware, this is the first time a user has been able to earn the equity of a company by just using the product. So obvious in hindsight, and something I hope others start to adopt as they march on their path to progressive decentralization--both in crypto and outside of the industry.

We have a lot more utility coming, things we'll share over the coming weeks, months, and year. As the Backpack community grows, we will decentralize the token, offering new things over time, some centralized like our equity offering, some decentralized as our product evolves. In the limit, I expect the token to represent more than anything a single company has to offer, but in the short run, it's the best we can do to show our long term commitment to our users.

I've said it before and I'll say it again. I can't promise anything. The only thing I can promise is commitment.

We go big or we go home--together, actually together.

[Turbanator 🎒 @Drish1978]

@MonadCommunity 0x9300A5116Baa242349915578879a37b4488cf32C

[Turbanator 🎒 @Drish1978]

@Monad_Insights 👀