FALI

[The White Whale @WhiteWhaleLabs]

No Good Deed Goes Unpunished In Crypto - The Wild & Crazy Zinc Story

I’ve been watching the Zinc / ZKFG situation unfold, and the more I learn, the clearer the actual story becomes.

This is not about poor early investors being abandoned as some accounts try to spin the narrative.

That is the FUD based on financial incentive. From the ORE community to see Zinc fail, and from secondary market folks who have a financial incentive to try to capture Zinc success only after Zinc became successful.

The “investors rugged” is the version people want to spread because it lets them wear the costume of justice while chasing someone else’s upside.

The real story is something much uglier.

It is a story about good faith being punished.

ZKLSOL raised money for an idea. The business that they raised money for was a mixer. A tornado cash for Solana, as it were.

The team worked hard on it on it. Gave it their best effort.

And the market did what markets do with countless startups.

It said no.

That is not a rug or some form of theft. That is the nature of startups in this space.

Most startups fail. Most ideas do not find product-market fit. Everyone loves to say they understand that when they are buying the dream. Far fewer remember it when the dream gets punched in the mouth by reality.

The founder did not just walk away as he had every legal right to do.

There was a $500K refund.

People who wanted out got out. Many in profit.

And from what I found, the founder received no equity back. No token back. No “thank you for being a good guy” bonus.

Just money out the door to make people whole because his original business concept failed and the founder is a good guy with a generous heart.

That matters a lot in the current narrative.

Because when people try to frame this as “Zinc rugged early investors,” they are leaving out the most important piece of history.

The early investor issue was not ignored.

It was addressed.

Maybe not perfectly. Nothing in crypto is ever perfect. Half this industry is held together with duct tape.

But there was good faith.

Real good faith.

Actual money.

Actual exits.

Actual effort to keep people from being left behind.

But good faith is not the same thing as formal obligation.

There was no formal investor approval of a legal pivot into Zinc.

No signed addendum.

No updated operating agreement. (I know, as I've read the entirety of the 20-page operating agreement)

No formal contribution of Zinc IP into the original structure.

No clean legal document that turned an act of goodwill into a permanent claim on whatever the team built next.

This is an important context.

It also highlights the absolute mess of MetaDAO as a facilitator - one would think the founders would have insisted on formalizing this to protect early investors - instead they now have put up a proposal to formalize this long after the fact, and only after Zinc’s phenomenal success.

Because trying to carry people forward after a failed startup does not mean every future success becomes theirs to claim. Especially on an entirely unrelated business.

So the team decided they were going to dust off a two-year old idea and build Zinc instead. Zinc started working incredibly well. It quickly became the #2 revenue generating protocol on Solana.

That is when everything changed.

Suddenly the room filled with people who were not there for the hard part at the beginning.

They were not there when the first business failed.

They were not there when the team was trying to figure out how to salvage value for investors of a failed business, when they had no legal or moral obligation to do so.

They were not there when early supporters were being given a way out.

But the moment Zinc showed signs of life?

The moment the thing started getting attention?

The moment there was blood in the water and money on the table?

Here they came.

Late buyers.
Arb hunters.
Opportunists.

Like the founder of @streamflow_fi who put out the biggest piece of FUD on the topic, only later to admit that he was a late-stage arb buyer of the proposed outcome.

People who did not carry the original risk, but now want to inherit the reward.

And the most disgusting part is they are trying to use the language of investor protection to do it.

No.

Investor protection is making sure original supporters had a fair path out.

Investor protection is honoring the actual process.

Investor protection is respecting a passed proposal.

What we are watching now is something entirely different.

A passed proposal offered ZKFG holders a premium exit.

It passed.

The market spoke.

That should mean something.

Actually, it should mean everything in the theater that is "governance".

The founders of MetaDAO asked for a deposit to go towards the passed proposal. That deposit was sent over two transactions:
https://t.co/VNavH1y3E1

https://t.co/TwcCYqkfGA

Only after the deposit was sent (which is still being held hostage and not returned) did they say that they were not going to execute the passed proposal.

If a decision market can approve an outcome, and then that outcome can be dismissed after the fact because someone says the format was wrong, then the market is not sovereign.

Someone else is.

And if money was requested to support that proposal, an address was provided, funds were sent, the proposal passed, and then the proposal was later treated as invalid while the money sits without being returned, that should concern every single person who claims to care about governance.

You cannot have it both ways.

You cannot say a proposal is real enough to request initial funding, but not real enough to honor.

That is not how trust is built.

And all of this brings us to the the real lesson for builders.

If you try to do what you think is right, regardless of any legal obligation to do so, someone will eventually call it an admission of liability.

If you try to help early supporters when you have no requirement to do so, someone will eventually call it an obligation.

If you try to salvage value from a failed idea, someone will eventually show up late and claim your future success.

That is how good founders learn to grow cold.

That is how this industry teaches builders to give people exactly what the paperwork requires and not a single ounce more.

And then we all sit around wondering why everyone rugs, hides, ghosts, or lawyer-speaks their way through every uncomfortable situation.

We created that.

We reward the worst behavior, then act shocked when good behavior disappears.

Zinc did not create this mess by succeeding.

Zinc simply exposed it.

It exposed the difference between original supporters of a completely different business who were given a path out, and late opportunists trying to turn secondary-market positioning into moral authority.

It exposed whether passed proposals actually matter.

It exposed whether futarchy is a real governance system or just a beautiful machine that can still be unplugged when the result gets uncomfortable for those with greed in their hearts.

And it exposed something very simple:

Some people did not want fairness.

They wanted a claim on success, only after it became successful.

They wanted to arrive after the risk, after the work, after the refund, after the failure, after the rebuild, and say:

“Now that it works, we own some of that too.”

That is not justice.

That is greed.

Honor the passed proposal.

Resolve the funds.

Stop pretending late buyers are abandoned early investors.

And let builders build.

Because if this is how we treat builders with good faith, then no one should be surprised when the next founder shows none.

🫡 From the depths —
The White Whale 🐋

[ORE @ORE]

ORE has officially frozen the mint program.

This is a major milestone and security upgrade for token holders. The max supply has been made immutable and emissions rate is permanently capped.

Here's what this means for users... 🧵

[ORE @ORE]

https://t.co/pkCz4ziGJb

[FALI @cryptofrkn]

@nhat710994 invete code: ARP22222

[FALI @cryptofrkn]

@cryptodiane @addicteddotfun invide code: ARP22222

[FALI @cryptofrkn]

@addicteddotfun ref: ARP22222

[FALI @cryptofrkn]

@addicteddotfun ref: ARP22222

[FALI @cryptofrkn]

@addicteddotfun ref: ARP22222

[FALI @cryptofrkn]

@addicteddotfun ref: ARP22222

[FALI @cryptofrkn]

@bon_g @addicteddotfun ref: ARP22222

[Soju 燒酒 | Meteora @0xSoju]

its icm season baby.

let's incubate the next 1,000x together

only on @MeteoraAG and @solana

[WinningCircle @WinC300]

ETH, Ağustos ayının ilk iki haftasında %40'lık bir yükseliş gerçekleştirerek 4800 civarlarına ulaşmayı başarmıştı. Güncel durumda 4800 tepesinden %12 aşağıda işlem görüyor.

Kısa vadeli ara destek olarak çalışması beklenen 4.320-4.280 aralığı kaybedilmiş gözüküyor. Fiyatın hızlı bir şekilde toparlayıp tekrardan 4.320 seviyesi üzerine çıkması durumunda 4.420-4.480 aralığına ulaşması mümkün olabilir. Bu senaryonun oluşması durumunda direnç bölgesinden kâr alımı yapmak ve düşüş yönlü pozisyonlar kurgulamak mantıklı olabilir.

4.320 seviyesi kazanılamadığı müddetçe satış baskısı devam edebilir. Bu durumda ilk etapta fiyatın 4.100-4.000 aralığına çekilmesi beklenebilir. Bu bölge fiyata yukarı yönlü tepkiler verdirebilir. Bu sebeple Düşüş yönlü pozisyonlardan kâr al bölgesi ve kademeli alımlar için başlangıç seviyesi olarak kullanılması iyi sonuçlar verebilir. Fiyatın 4.100-4.000 aralığından da dönüş gerçekleştirememesi durumunda 3.850-3.720 aralığına kadar geri çekilme gözlenebilir.

[edgar @edgarpavlovsky]

moved @darkresearchai's Scout to a multi-agent architecture and have been seeing much better

1) performance
2) observability
3) extensibility

a few things that stand out to me:

Performance

To some extent, agent performance is tied to the amount of tokens spent -- the more tokens an agent spends, the more horsepower they put towards solving a given problem, and generally speaking that effort pays off.

While Scout's multi-agent system will likely spend more tokens than its single-agent approach, we're finding that the multi-agent system provides a more robust set of information points even when compared to a single-agent system that leveraged ReAct with a high threshold of total iterations (upwards of 20).

My hunch here is that what's driving performance is two-fold:

(a) Focus: each agent in a multi-agent system has less to worry about, so can do a better job focusing on what its job is

(b) Improved observability: it's much easier to see where our DAG pipeline's weak nodes are (and thereby, improve them) -- leading to compounding performance overall

Observability

Observability is a really tough problem in agent systems -- they're naturally unstable. Multi-agent systems are more modular, allowing (a) tests and (b) evals to be more specific, more scoped down, and thereby more effective. (also a lot more enjoyable to work with, searching in the dark for possible issues in a complicated ReAct pipeline is miserable)

Extensibility

Multi-agent systems are effectively DAGs (glad to see these popular again from my data engineering days), and the modularity of DAGs has always made them impressively extensible.

This is why products like @n8n_io do so well -- you can think of them like a store of plug-and-play pieces that can operate independently or with each other in a variety of combinations.

Or simply put: the whole is greater than the sum of its parts.

Scout's current DAG graph below (still WIP) 👇

Hoping to release Scout in a closed invite-only alpha soon for testers -- who should I send an invite code to?

[arc @arcdotfun]

the rhizome represents nature's original decentralized network - a root system with no center, spreading horizontally, connecting multiple points without hierarchy. unlike trees which grow vertically from a single trunk, rhizomes create webs of interconnection and emergence.

this is the pattern that connects biological evolution to technological development - the rhizome is how nature innovates and how culture propagates. the coming AI revolution will follow this form.

[MartyParty @martypartymusic]

MM Update: Offshore exchange #Binance continues to dominate market manipulation sending $100s of million of assets to #wintermute market maker while onshore exchange #coinbase continue to send $100s of millions in stable coin to #wintermute to absorb the selling pressure in what appears to be a 2025 asset transfer through the #Binance and #coinbase order book.

We would love an explanation of this ongoing activity and this obvious pattern from representatives of either exchange.

Note: Im not a lawyer, I dont know if any of this is legal or illegal but the pattern speaks of manipulation, anyone that looks at these thousands of transactions must agree this deserves an explanation.

My Space is available to host a discussion anytime just DM me.

[Tachi @0thTachi]

lewis carroll is an /arc_angel

he was more than the whimsical mind behind alice’s adventures in wonderland; he was a brilliant mathematician, logician, and pioneer of thought who fused reason and imagination in ways that still shape our understanding of computation and creativity today.

beneath the playful riddles and dreamscapes, carroll embedded a logical structure that challenges us to see beyond the obvious—to think differently, and to ask questions that spark true innovation. his legacy stands as a testament to the power of curiosity, reminding us that the most transformative ideas often arise at the intersection of rigorous logic and limitless possibility.

we honor lewis carroll as an arc angel for bridging reason with the infinite terrain of the mind—principles that echo in our pursuit of powerful ai applications, built on the foundations of rig.

builders, creatives, visionaries, we call on you to follow in carroll’s footsteps: question the familiar, imagine the extraordinary, and never stop exploring.

join the complex.

we build rig, rig builds us

[arc @arcdotfun]

we’re teaming up with @SolanaFndn to accelerate ai innovation on @solana! arc will be awarding targeted grants to devs building rust-based agents powered by rig that streamline solana actions, from defi flows to developer tooling.

interested teams will also benefit from technical mentorship by the @SolanaFndn.

stay tuned — can’t wait to see what you build!

we build rig, rig builds us

[Jupiter @JupiterExchange]

alignment in action.

50% of @JupiterExchange protocol fees will now go towards $JUP buybacks.

let’s. fucking. go.

[meow @weremeow]

Doing a PPP memecoin experiment that might or might not involve airdrops.

To be part of it, QT this w your address (or just RT & reply)

To kick it off, here’s mine:

AS3yMXa5yPRFeLgsdQkFR1KxBowExSY1JUzRGZj8iAMu

If we get enough real participants, the experiment will proceed 🐱

[FALI @cryptofrkn]

@weremeow FgaFWhPz3bxbpVd5ca7BBxpVtLwH8PEcZ529hHgWZFAW