Governance update on @solana:
It is becoming increasingly clear that Solana is a futarchy ecosystem.
Ownership coins have ushered in a new era of governance and participation, evidenced by the performance of launches like @JurassicFi, the investor-friendly wind down of @ranger_finance, and the growth of supporting media projects like @ownershipfm and @01Resolved.
The @realmsdaos team has seen this firsthand through our own work in Sowellian Governance, an evolution within the broader family of futarchy-based governance systems inspired by @robinhanson. Participation in IslandCapital and the new @ridemarkets conviction platform has been exponentially higher than traditional token-voting systems.
Realms is now transitioning into a fully decentralized protocol.
This means making the SPL Governance 3.1 program immutable. On July 1st, the freeze will be complete and the https://t.co/Z4V17vW2Gg UI will be shut down (This will impact DAOs like @metaplex that rely on this UI for voting and proposing)
If governance infrastructure can be changed unilaterally, it is not truly neutral infrastructure.
Many DAOs, like @jito_sol, already operate their own governance frontends for voting and proposal creation. Others will now be free to build specialized interfaces and governance experiences on top of SPL Governance.
The current Realms team is transitioning into a new organization: Realms Lab, a governance agency focused on future innovation across the SPL Governance ecosystem. Our first projects include supporting new launchpads like @craftsdev and @fairdotclub, pioneers in bringing TradFi companies into the web3 governance stack. This newly formed team includes both existing Realms contributors and new additions that will be announced later this year.
As for the rest of us, we are fully locked in on Ride.
Operational futarchy is the most exciting thing we have collectively worked on. It finally solves how groups can coordinate capital in a truly decentralized way.
The design space is massive and we intend to spend all of our energy bringing futarchy to more Solana users.
400 trades on @ridemarkets
37x leverage, capped downside, no liquidations.
in a bear market.
Callers take real conviction trades when they cant get wicked out of a thesis
How the Early Bird Bonus Actually Works on Ride Markets @ridemarkets
Most people on Ride Markets focus on picking the right side. That's important but it's only half the game. When you commit matters just as much as what you commit to.
That's what the early bird bonus is about. And once you understand it, you'll never wait until the last minute again.
The Basic Idea
When you stake money on a call, your position carries a weight multiplier that determines your share of the payout. That multiplier starts high and decays over time.
Stake at the very beginning → your money counts as 2.5×
Stake in the middle of the market → somewhere around 1.5×
Stake at the last moment → your money counts as 1×
The multiplier isn't random. It decays smoothly and predictably from open to close. The app shows you the current multiplier before you commit so you always know exactly what you're getting.
Why Does This Exist?
Think about it from the platform's perspective.
If everyone just waited until 5 minutes before close when it's obvious which way the price went and then piled onto the winning side, there'd be no real market. No risk, no conviction, just free money for last minute bandwagoners.
The early bird bonus fixes that. It rewards the people who took a genuine risk when the outcome was still uncertain. If you back YES at the very start and you're right, you should earn more than someone who backed YES 10 seconds before the clock ran out.
That's the logic. And it's fair.
What It Looks Like in Numbers
Say a market closes with $1,000 on the YES side and YES wins. The NO pool ($800) gets split among YES backers.
Sarah staked $100 early → multiplier 2.5× → weighted stake: $250 Mike staked $100 mid-market → multiplier 1.5× → weighted stake: $150 Dave staked $100 late → multiplier 1.0× → weighted stake: $100
Sarah's share → ~$400Mike's share → ~$240Dave's share → ~$160
All three staked the same $100. Same bet, same amount, very different outcome just because of timing.
The Practical Takeaway
Don't wait. If you see a call that makes sense to you, get in early. Browsing for an hour and then staking at the last minute is the most expensive habit you can develop on this platform.
Use it on contrarian bets. If the crowd is heavily on one side and you think they're wrong, backing the minority side early gives you two edges a bigger pool to split if you win, and a higher multiplier.
Check the multiplier before you stake. The app shows your current weight in real time. If it's already dropped to 1.2× and you're not confident, wait for the next market.
One Thing People Miss
The multiplier affects your share of the pool not your odds of winning. You're still betting on the same outcome either way. What changes is how much of the winnings you take home if you're right.
Early conviction, bigger reward. That's the whole idea.
ReFi Hub ICO is live: https://t.co/jVjwKYes9H
You now have access to equity-linked tokens with VC-grade protections and fair valuations through Crafts.
Token holders control unreleased treasury and vote on key decisions like exits, raises and governance changes.
@kidonthephoenix You want to move to Thailand and you didn’t come to @islanddao yet?!?
The entire Solana crew is here waiting for you! Get in action and come
Loved this article! I think you are spot on, this is a time where many in crypto (Solana more than most) are exploring radically new financial primitives
There is a risk now however; we could accidentally go the way DAOs went with lumping too many of these primitives into categories like binary markets, conviction markets, etc..
Our challenge now is to really refine and restate what we are individually building. I want to understand @lightconexyz@longshotxyz@Dekantfi@benchdotmarkets so well that I can explain exactly why you would use one over the other (and i want you to understand @ridemarkets just as well!)
It’s rare to find the right group that understands such an innovative product while it is still in beta
Anyone building in the ownership and futarchy space should listen to these talks
What is "Operational Futarchy"?
Dean from @ridemarkets, breaks it down:
"Consensus is very poor for making trades. That's where we came up with Ride Markets. We call it operational futarchy and we hope every single ownership coin can use this to be very nimble with its treasury."
"Put $10 as a bond and trade $1,000 from the treasury, that's 100x leverage. We spin up a prediction market in parallel. It becomes @UmbraPrivacy's Polymarket, @loyal_hq's Polymarket. Every token community gets its own Polymarket and all the fees go back into the treasury." - @deanmachine