In this episode, Austin chats with Santiago Roel Santos, founder of Inversion, discussing why crypto has struggled to reach mainstream adoption and what it will take to change that. Santiago explains how Inversion applies a private-equity-style model to deploy capital into real-world use cases, rather than chasing speculative cycles. He outlines why stablecoins are emerging as crypto’s strongest product-market fit, what infrastructure still needs to mature, and how regulatory clarity is shaping global distribution. The conversation also covers chain selection, the limits of “casino onboarding,” and why genuine adoption depends on building products that solve practical problems for people and businesses.

00:00 - Understanding Inversion and Its Origins

07:18 - Crypto's Consumer to Enterprise Shift

12:59 - Interoperability and Choosing the Right Blockchain

17:16 - Private Equity in a High Interest Rate Environment

20:16 - Distribution vs. Product in Crypto

25:50 - The Future of Crypto and Stablecoins

33:19 - Global Economic Power and Technology

35:51 - Crypto's Impact on Corporate Structures

40:32 - Tokenized Stocks and Market Access

48:02 - Advice for Founders in the Crypto Space

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In this episode, Austin chats with Sid Powell, co-founder and CEO of Maple Finance, to explore how institutional credit is moving on-chain. Sid breaks down how Maple has facilitated over $5 billion in loans, how it manages risk and transparency in a post–Celsius world, and what’s next for tokenized private credit. We also discuss stablecoins, regulation, and how crypto finance is maturing for the long term.

00:00 - Understanding Maple Finance

02:03 - Comparing Maple to Celsius

09:39 - Institutional Clientele

16:42 - Maple's Navigation of Different Blockchain Ecosystems

22:58 - The Case for Vertical Integration

23:57 - Challenges in Financial Services

25:12 - Crypto's Overall Growth

26:49 - The Future of Banking and Crypto Adoption

30:57 - Stablecoins and Cross-Border Payments

38:21 - Automation and Efficiency in Crypto Lending

44:00 - Conclusion

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In this episode, Kevin Bowers returns to explain Jump's expansion from trading to core infrastructure, centered on what he calls the "great inversion": the real bottleneck in tech isn't compute, but data and I/O. He introduces Shelby, a new storage network, as a direct challenge to the "Hotel California for Data" model used by cloud providers. This same focus on efficient data flow—not just processing power—was the key to scaling Solana with Fire Dancer. Finally, Kevin explains how FPGAs from high-frequency trading are the critical hardware solution, allowing blockchains to bypass software's inefficient "Tower of Babel" and "get close to the wire" for true high performance.

00:00 - Expanding Beyond Trading and the Vision for Shelby

02:31 - Challenges in Storage and Data Management

04:37 - Building High-Performance Systems

08:04 - The Evolution of Jump's Technology

11:55 - The Economics of Cloud Storage

29:07 - Fire Dancer and Frankendancer

42:03 - The Cost of Optimization

42:48 - Machine Learning and Custom Networks

43:47 - Project Prioritization and Entropy

46:48 - Challenges in High-Performance Computing

56:38 - The Role of FPGAs in Trading and Blockchain

01:13:45 - Future of Hardware Acceleration in Blockchain

01:18:54 -Conclusion and Final Thoughts

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In this episode, Austin chats with Michael Repetny, a core contributor to Marinade. They discuss the history and technical details of Marinade, its role in the Solana ecosystem, and its approach to staking. Michael covers Marinade's origins in a 2021 hackathon, the development of its custom stake pool contract, and its early competition with Lido. The conversation addresses the evolution of validator economics on Solana, the impact of MEV and priority fees, and Marinade's response to sandwich attacks. They also discuss the protocol's products, including its liquid staking token (mSOL) and Marinade Native, a non-custodial delegation service. The episode concludes with a discussion on preparing for institutional adoption, the role of LSTs in ETFs, and the process of getting SOC 2 compliance.

00:00 – Marinade’s Origins and Early Days

03:11 – Building on Solana

07:09 – Competing with Lido and the Importance of Community

10:59 – The Changing Economics of Staking

14:45 – Stake Pools, Yield, and Market Transparency

19:17 – The Marinade Marketplace

23:21 – Protected Staking Rewards & Validator Bonds

27:19 – Marinade Native

32:18 – ETFs, Institutions, and the Future of Staking

38:34 – Security, Compliance, and SOC 2 in Crypto

43:59 – The Future of Marinade and Solana Staking

46:59 – How to Get Involved with Marinade & Closing

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DISCLAIMER

The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.

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In this episode, Austin chats with Tristan (Bullet) to discuss the significant evolution of decentralized finance (DeFi), particularly focusing on the re-emergence of Central Limit Order Books (CLOBs) and the innovative development of Bullet on Solana. Tristan dives into the history of order books, their challenges in the DeFi space, and the technological advancements that are now overcoming these obstacles. They explore the unique position Bullet occupies in the Solana ecosystem, advancements in smart contract programming, the importance of co-location for trading efficiency, and the promise of ZK proofs for verifiable off-chain compute. Additionally, they cover how Bullet seeks to provide superior user experience without compromising on performance, aiming to compete with centralized exchanges while leveraging the transparency and security of blockchain technology

00:00 - The Return of CLOBs to DeFI

01:43 - Challenges of On-Chain Order Books

03:42 - Innovations in DeFi and Solana's Role

08:30 - How Zeta Became Bullet

11:39 - Decentralization vs. Performance

15:04 - Exploring Different Models for Order Books

23:24 - Challenges in Centralized and Decentralized Trading

24:15 - Solana's Trading Model and Its Impact

25:52 - Pitching to Professional Traders

26:37 - Technical Aspects and Integration

28:25 - Market Dynamics and Maker Strategies

31:39 - Performance Metrics and Optimization

36:48 - Data Access and Fairness in Trading

40:34 - Upcoming Developments and Testnet

42:30 - Conclusion

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DBA co-founder John Charbonneau discusses his journey from TradFi to crypto, detailing his evolution from an Ethereum maximalist to a multi-chain pragmatist. He argues that as the crypto market matures beyond hype cycles, real revenue and cash flow are becoming key valuation metrics. He points to Hyperliquid's controversial rise as a prime example of the industry's struggle with decentralization, noting the irony of Solana advocates lodging critiques once used against them. Looking ahead, Charbonneau predicts successful protocols will adopt traditional functions like customer support and investor relations, viewing regulatory clarity as vital for the industry's future health and transparency.

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In this episode, Kash Dhanda of Jupiter shares his crypto career journey and his unique role blending content creation with product strategy. He delves into Jupiter's unconventional organizational structure, explaining how it fuels their rapid product development and acquisition strategy. Kash highlights the reasoning behind key initiatives such as the Drip House acquisition and Jupiter Lend, underscoring their commitment to long-term growth. The conversation also addresses the challenges of serving a diverse user base, from crypto novices to seasoned traders, and Jupiter's dedication to community support.

DISCLAIMER The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.

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