Solana Legend 🎒💧

Co-Founder, Managing Partner @FrictionlessVC, @monkeDAO Opinions are my own, not investment advice

[Solana Legend 🎒💧 @SolanaLegend]

I’m excited to announce that our fund, Frictionless Fund I has raised $20M to invest in high performance blockchains and category defining applications.

We are honored to be backed by some of the industry’s best investors including @pmarca, @cdixon, @FTI_US, leading founders and funds of funds.

We have already made several high conviction bets starting with @Backpack
and are excited to share more about our views and approach to investing in the coming months.

https://t.co/gDXqI57DO5

[Backpack 🎒 @Backpack]

$BOT is now live on @Solana with @Sunrise.

Official token address: BoTx8y9ynfdxf5ZjWtCoBVkff52qKA82ysaLU8ZM6d8T

@RoboStrategy is the Nasdaq-listed fund holding leading private robotics and embodied-AI companies, from Figure to Apptronik.

Issued by Backpack Securities, $BOT is redeemable 1:1 for real shares and transferable to traditional brokerages.

[Solana Legend 🎒💧 @SolanaLegend]

Solana summer

[Solana Legend 🎒💧 @SolanaLegend]

We saw this play out with GBTC before spot redeemable ETFs like IBIT

Without real redemptions, shares always trade at a massive premium or discount because there is no mechanism to bring prices in line

[Armani Ferrante @armaniferrante]

@stevensarmi @Backpack The other thing everyone misses is how important it is to be able to trade between Nasdaq <> @solana to keep onchain prices in line.

No other issuer talks about it because they don't actually care about onchain liquidity.

Imo that's the north star.

[Steven (っ♡◡♡)っ @stevensarmi]

This is exactly the argument that happened when @Backpack launched tokenized securities.

The truth is people wont trade them, what people actually want is ownership.

You can get exposure onchain already, thru xstocks or ondo, and now robbinhood stocks?

The reality is they want redeemability, its why their offerings for $SPCX solana:MUxEsUKSMACyw5fZf68wxf5FLnZVhtU9CwH8uNNGay1 and solana:SNDKbwMUQvZhnLnxLduradgLHG5KrPuKwpnrkkGRhfH are so popular, its why theres actual volume for these vs the others.

You actually can trade them for the underlying all within the platform back and forth, they are 1 to 1, no one else can claim this, they simple have exposure.

[Solana Legend 🎒💧 @SolanaLegend]

the trenches are alive

[Solana Legend 🎒💧 @SolanaLegend]

Solana DEX volumes turn over 0.49x of TVL daily

That's 178x annually

Insane velocity of money, accelerating massively

[Solana Legend 🎒💧 @SolanaLegend]

@smyyguy @LoganJastremski @fejau_inc @Backpack https://t.co/y9UFm0dLmr

[Solana Legend 🎒💧 @SolanaLegend]

@smyyguy @LoganJastremski @fejau_inc @Backpack The token converts to equity. It's a tokenized warrant

[Solana Legend 🎒💧 @SolanaLegend]

@pkhr @LoganJastremski Banger tweet

[pavel k. 🇨🇭 @pkhr]

fyi this is regulatory equivalent of launching a starship without blowing up the launch pad

[Solana Legend 🎒💧 @SolanaLegend]

Big votes coming!!!

[Jacob Creech @jacobvcreech]

We have potentially big upcoming votes coming to Solana soon

- SGP
- Disinflation
- Resource and Inclusion fee

All powered by Solana Governance

[Solana Legend 🎒💧 @SolanaLegend]

@blknoiz06 @armaniferrante Backpack has the same licenses as Goldman Sachs in Europe and are adding Japan, US, and the rest of the world.

[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.

[Ansem 🐂🀄️ @blknoiz06]

which are the best bets to make to get exposure to the tokenized stocks trend on solana?

solana:BPxxfRCXkUVhig4HS1Lh7kZqV6SPJhzfEk4x6fVBjPCy
solana:METvsvVRapdj9cFLzq4Tr43xK4tAjQfwX76z3n6mWQL
solana:68Nq68CrtLVpyvK5Un7UADiNczaGf39hBbj3diRsYj6D

am sure im missing some

[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.

[Solana Legend 🎒💧 @SolanaLegend]

Market is trading like @saylor sold 🤣

[Solana Legend 🎒💧 @SolanaLegend]

@ThinkingUSD ETH and with good reason

[Sam Schubert @minnus]

Tokenized equities on @solana are starting to look less like one-off launch hype and more like repeat trading activity.

@Backpack x @sunrise issued equities have now printed multiple $80M to $100M plus daily spot volume days, with flow spread across prop AMMs and pools.

Who would have thought bringing equities onchain would create sustainable DEX activity?

[Solana Legend 🎒💧 @SolanaLegend]

Adding the @Backpack card as default in Apple Wallet with 6.60% on balances

This is where the lines between DeFi, TradFi, and the real world begin to blur

[Morgan @morganlinton]

This morning I started to play around with @inference_net, super interesting stuff. I think there's a lot I can learn about both model and harness optimization with this.

Still getting it all setup, will share more about my experiences as I go as usual.

[Lightspeed @Lightspeedpodhq]

New episode with @armaniferrante Founder & CEO @Backpack

We Discuss:
- Tokenized Finance
- Backpack’s Exchange Strategy
- Regulation and Token Design
- And more!

Timestamps 👇
(0:00) Introduction
(1:44) Armani’s Solana Journey
(13:28) Why Backpack Chose Regulation
(23:34) Building Crypto’s Financial Stack
(35:38) Tokenized Stocks at Scale
(45:42) Tokens, Equity, and Incentives
(59:03) The Future of Tokenized Assets
(1:09:28) Closing Comments