Finally joined the ranks of @MadLads NFT holders, backed by @Backpack ,built on @solana. Excited to be part of something that’s shaping the future of Web3 from the front lines.
Happy 6th birthday Solana fam.
They said quit. The builders stayed.
They said it's dead. The code persisted.
They said move on. The network's never been stronger.
Just one more hard quarter.
IPOs. Onchain.
Get IPO share allocations directly on Backpack, enabled by our infrastructure partner @SuperstateInc.
Real shares. Direct ownership. On @solana.
Join the waitlist: https://t.co/Bs6WnNrCaD
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.
In the limit, Backpack and Perp DEXs are going down completely different paths.
Perp DEXs are going to eat the entire unregulated offshore speculation market currently dominated by the large CEXs like Binance. This is a huge opportunity, and this is a good thing for the industry. The world needs trust minimized DEXs to replace the status quo that has dominated for far too long.
Backpack isn’t trying to compete here. Please use your favorite DEX and use it with the Backpack wallet to on/off ramp, to bridge, and to access any decentralized app on any blockchain. Ultimately, Backpack isn’t trying to compete with any crypto company. Backpack is trying to go after Wall Street, so that we can grow crypto from the small, mostly irrelevant market it is today into the backbone of the entire world economy.
There’s a reason why you don’t have good fiat rails on any perp DEX. There’s a reason why you can’t access real stocks with cash dividends, voting rights, and legal protections (e.g. in the event of bankruptcy) on any perp DEXs. Accessing these regulated products is a completely different game. For better or worse, banking laws, securities laws, KYC/AML all apply and they aren’t going anywhere. You aren’t going to get a bank account in Japan for JPY without that. You aren’t going to get a master account with the Federal Reserve without that. You aren’t going to legally be the official owner of a security/stock without that. Wall Street needs to change, and the world needs a trust minimized crypto native financial institution to go after that opportunity. That’s Backpack.
While the small CT bubble argues over whose token is better, keep in mind that there are much larger stakes at play. The offshore CEX monopoly needs to be disrupted, and it’s not done yet. Wall Street needs to be disrupted, and it’s not done yet.
The jobs not finished, so keep your eye on the prize.
Announcement:
Nothing but love to our Mad Lads
every rumor needs clarity
very simply put, here's the truth
expectations got a little wild
reality check time
Getting straight to the point
our community deserves honesty
no Backpack airdrop is coming
neither now nor later
and we won't tease you otherwise
Given that, we still ride together
in this space, transparency matters
value is built long term
every Lad knows that
You're here for culture
ownership beats airdrops
unshakeable vibes always
Understand this clearly
please don't believe the hype
Thank you for everything
Three years ago today, our genesis collection minted on Solana, against odds, and the Claynosaurz were born on digital.
Three years feels like an eternity, but it also feels like yesterday.
In three years, we have grown sustainably, not shrunk.
In three years, we built a gaming branch, product arm, community teams, an animation studio, events vertical, and a powerhouse digital collectibles ecosystem.
We have pioneered metas, piloted new tech, and stayed true to our DNA as Originals.
We held fan events for thousands of people all over the world. Spoke at countless conferences. Won over 40 animation industry awards. Built a multiplatform social media presence that sees millions of views per month organically.
We showed up every day, no matter what the market was doing. We had a mission, and we believed in what we were building unequivocally. When it’s tough, we figure it out.
In three short years, we did what we said we would: made an industry turn heads.
We have been featured numerous times side-by-side with Netflix, Dreamworks, Sony, DIsney as peers. We have been featured in Variety, Animation Magazine, Forbes and more as gamechangers or ones to watch. And recently, we announced our umbrella accelerator, HEEBOO, which already has the industry talking behind the scenes.
We are part of web3’s history. And we will be part of entertainment’s history.
The collectors are part of that history. The entire space that supported us is. We would not be where we are today without you.
That is something we will honor.
In three years, the community has evolved into one of the most positive, tight-knit groups across all ecosystems. We owe our gratitude to each of you, to the incredible sub-communities and tribes that evolved over time, and to Clayno Capital.
What an adventure this has been. Thank you so much, web3, for the insane 3 years.
This was but the set up.
- Cab
HEEBOO redefines how entertainment is created, owned, and experienced.
The industry is broken. By validating ideas with Superfans, we’re building a market-driven franchise model where IPs start digital-first, monetize early, scale globally, and are co-owned by their communities.
Built by the @Claynosaurz team.