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Transcript

Solana's New CEX Killer?🚨JTX by Jito Labs🔥Solana Accelerate Miami 2026 · The Paul Barron Crypto Show

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  Speaker 1: All right, here we are at Salona Accelerate. It's going
• 0:02
  Speaker 1: to be a fun day here today we're relaxing on
• 0:04
  Speaker 1: the set and I am here with Lucas coming in
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  Speaker 1: from GDO. Of course, nice booth right over there, so
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  Speaker 1: thank you. Nice placement too. I like what you guys
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  Speaker 1: have done, So welcome to Shelle, Thanks for coming.
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  Speaker 2: In, Thanks for having me.
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  Speaker 1: When you look at launching a new platform like JTX,
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  Speaker 1: first of all, explain what it is, and then I
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  Speaker 1: want to get into kind of the challenges that you
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  Speaker 1: guys have run into.
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  Speaker 2: Yeah, so JTX is where smart money trades everything. It's
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  Speaker 2: a Solana trading engine, a product that people can use
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  Speaker 2: to trade on Solana. And we've spent the past four
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  Speaker 2: years really in every corner of the network on Solana,
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  Speaker 2: so like deep in the infrastructure built the Judo Salona
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  Speaker 2: Valida or client Judo Soul. We've helped generate over a
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  Speaker 2: billion dollars on revenue for stakers and validators on this network,
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  Speaker 2: and we just learned a lot about how the network works,
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  Speaker 2: and we want to get more involved with bringing people
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  Speaker 2: on chain, and there's only so much we can do
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  Speaker 2: at the infrastructure layer, like users aren't interacting with the infrastructure.
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  Speaker 2: They see some of the benefits of it, but we
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  Speaker 2: really want to get more involved with the users, and
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  Speaker 2: so we feel like there's a good wedge in the
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  Speaker 2: market for us to go in, and we really want
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  Speaker 2: to get more people trading on chain and people that
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  Speaker 2: are trading on sexes and all that and bring them
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  Speaker 2: on to Salana.
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  Speaker 1: So moving from an infrastructure layer to more of the
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  Speaker 1: front facing side of what's happening within the Salana ecosystem,
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  Speaker 1: that's a pretty big leap. I mean, you know, you're
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  Speaker 1: talking about a different kind of customer in essence, and
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  Speaker 1: you're also talking about different strategies that are being utilized
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  Speaker 1: to be able to onboard. What kind of things are
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  Speaker 1: you guys running into at least on the initial.
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  Speaker 2: Launch, there's going to be a lot of challenges. Maybe
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  Speaker 2: we'll talk in a year from now and like see
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  Speaker 2: what those were, but we're definitely like we have to
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  Speaker 2: think about things differently. We're not selling to like validators
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  Speaker 2: and users, or we're not selling to validators and traders,
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  Speaker 2: we're selling to like users. So yeah, we're really changing
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  Speaker 2: the way that we like talk about the product compared
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  Speaker 2: to our previous products and think about like go to
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  Speaker 2: market differently, and it's going to be really challenging and
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  Speaker 2: really fun, and our team's really looking forward to it.
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  Speaker 2: We have like a multi year time horizon, many many
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  Speaker 2: year time horizon for GDO and Solana, and we have
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  Speaker 2: the capital and the team to make it happen.
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  Speaker 1: In terms of competition, I would say this is somewhat
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  Speaker 1: in competition with Jupiter. You look at how well Jupiter
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  Speaker 1: has done so far in the market. What kind of
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  Speaker 1: products do you feel that you guys would launch or
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  Speaker 1: services within what you guys are doing now that would
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  Speaker 1: kind of separate you from the pack.
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  Speaker 2: Yeah, we are really focused on this like pro retail,
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  Speaker 2: prosumer customer. So maybe someone trading on like purp deexes
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  Speaker 2: on other chains, people trading on centralized exchanges. They want
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  Speaker 2: to really good experience. They want charts to work, they
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  Speaker 2: want all the different order types they want like tea wops,
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  Speaker 2: and so we're really focused in making it the best
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  Speaker 2: possible training experience. We're not trying to do everything at once.
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  Speaker 2: It's not a swap box, it's not a meme cooin sniper.
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  Speaker 2: It's a professional training environment. And so that's what we're
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  Speaker 2: really going to focus on We're going to focus on
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  Speaker 2: spot first and then move into perps and prediction markets, and.
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  Speaker 1: So Perpson prediction market's coming. What about something like where
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  Speaker 1: we have seen the rollout of lending and borrowing on
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  Speaker 1: and within other platforms out there. Would that be something
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  Speaker 1: also that'll be flowing out.
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  Speaker 2: With you guys potentially? Yeah, I mean, I think the
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  Speaker 2: way that we think about it is just like, what
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  Speaker 2: do pro traders want? If they want that, then we
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  Speaker 2: will do it. Okay, it's a possibility, but we don't
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  Speaker 2: want to be the everything app and be mediocre like everything.
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  Speaker 2: We want to really focus on this pro trader and
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  Speaker 2: I think they're currently underserved on Solana.
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  Speaker 1: I would agree with that. I think that that is
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  Speaker 1: an issue right now for the pro trader. I mean,
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  Speaker 1: you have a lot of DJs that are you know,
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  Speaker 1: out there, and there's a lot of communities out there
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  Speaker 1: that kind of serve that crowd. What about well, first
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  Speaker 1: of all, is this going to be a single chain des.
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  Speaker 2: Yes, all on Salona, all on Solona. It's not a
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  Speaker 2: dex It accesses all the DEXes on Solana. So we're
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  Speaker 2: using a d flow for aggregation. So you know, it'll
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  Speaker 2: pull from media OORA or and then all the prop
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  Speaker 2: amms that are on Solana are giving. You can actually
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  Speaker 2: trade Solana, eth and BTC on Solana cheaper than on
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  Speaker 2: the top centralized exchanges. So like interesting, Yeah, that's not news,
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  Speaker 2: it's it's been going on a while. But it's like,
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  Speaker 2: why are people not trading?
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  Speaker 1: Yes, And that's the thing I don't think people just
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  Speaker 1: don't use it, you know, is the scenario. All right,
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  Speaker 1: let's go into the Phoenix Purp trade partnership that you
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  Speaker 1: guys are doing. Tell me a little bit more about that.
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  Speaker 2: Yeah, so in the near future, we will support trading
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  Speaker 2: Phoenix Purpse on JTX. We think their team is super
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  Speaker 2: solid and they have a really good product, and I
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  Speaker 2: think they'll continue to listen more and more assets and
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  Speaker 2: bring more people on chain. So we really want to
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  Speaker 2: support Solana products on JTX and off for the best
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  Speaker 2: training experience we can. They're doing record volumes and record
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  Speaker 2: oi every day and so we're super bullish on that team.
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  Speaker 2: So you'll be able to trade spot right all on
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  Speaker 2: chain on Slana and then also go into purpose and
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  Speaker 2: trade those as well.
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  Speaker 1: What was the okay, So when you put a roadmap
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  Speaker 1: like this together, Lucas, I mean you had to have
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  Speaker 1: a whole line list of things that you wanted to
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  Speaker 1: put in this. What was it that was driving you
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  Speaker 1: other than the pro trader component that you mentioned. Was
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  Speaker 1: there anything else that was driving you in terms of
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  Speaker 1: trying to move from infrastructure out to where you're going
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  Speaker 1: with this now?
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  Speaker 2: Yeah, I mean we see we can only do so
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  Speaker 2: much at the infrastructure there. Like we built really good
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  Speaker 2: at infrastructure. We've helped I think played a meaningful role
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  Speaker 2: in Solana scaling. You know, our infrastructure is super important
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  Speaker 2: throughout twenty twenty four, twenty five to take a lot
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  Speaker 2: of the load off the network. And then now I
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  Speaker 2: feel like the infrastructure is really solid and it's super fast,
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  Speaker 2: super cheap. It's only going to get better. And so
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  Speaker 2: we're thinking, like what can we do to make Salona
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  Speaker 2: more successful and Gido more successful. There's only so much
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  Speaker 2: we can do at the infrastructure there. Yeah, so we
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  Speaker 2: really want to go up the stack. We were playing
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  Speaker 2: with a few ideas and we felt like this like
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  Speaker 2: pro trading was really in our DNA. We've just learned
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  Speaker 2: so much about the network, like how's the network work?
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  Speaker 2: Like all the nitty gritty details. All these other teams
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  Speaker 2: come to us and ask for advice on all these
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  Speaker 2: different things. So we just have a ton of knowledge
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  Speaker 2: on how this network works, and I think we'll be
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  Speaker 2: able to give a much better trading experience.
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  Speaker 1: Do you think though, that working on pro traders if
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  Speaker 1: you look at because I think Dix's now are starting
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  Speaker 1: to attract very early crypto traders as well. Do you
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  Speaker 1: think that is much more of a like a graduation
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  Speaker 1: of a new crypto user that eventually would go there.
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  Speaker 2: What are your kind of your headeline, Yeah, I mean
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  Speaker 2: a lot of people are trading on blockchains and they're
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  Speaker 2: not even trading crypto, so like, uh, you know, the
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  Speaker 2: other purp DEXes are doing a ton of volume in
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  Speaker 2: oil and commodities, other commodities RWA's like S and P
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  Speaker 2: five hundred and uh, there's kind of this different trader
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  Speaker 2: that I think some people have evolved. And then there's
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  Speaker 2: also this other cohort of people that are just coming
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  Speaker 2: on trade chain. They want to trade on the stock markets,
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  Speaker 2: not open like on the weekends. They want to take leverage.
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  Speaker 1: Yeah, got to have it.
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  Speaker 2: And so I think people want to use these products
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  Speaker 2: because they are superior. They don't really even care if
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  Speaker 2: it's like a dex. They don't care what's going on underneath.
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  Speaker 2: They just want the best possible trading experience. They want
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  Speaker 2: a lot of assets, and so I think if we
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  Speaker 2: can like abstract all that away and just offer like
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  Speaker 2: the best trading experience you can trade crypto, you can
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  Speaker 2: trade RWAs and commodities and all these other things, then
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  Speaker 2: people will love it.
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  Speaker 1: What are your thoughts about I mean, we have seen
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  Speaker 1: in the early stage a little bit of a migration,
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  Speaker 1: I would say, of the more early adopters that have
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  Speaker 1: moved even off of traditional markets and moving to the
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  Speaker 1: twenty four to seven PURP DEXes. Do you think that
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  Speaker 1: is going to be a phase that Wall Street is
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  Speaker 1: going to accelerate into or you think it's mostly going
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  Speaker 1: to come from retail?
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  Speaker 2: I think mostly retail. There is a lot of big
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  Speaker 2: boy market makers on like these other twenty four to
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  Speaker 2: seven venues on chain, even on Solana, like Jump Training
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  Speaker 2: announced a few weeks ago they're running Bison five ice
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  Speaker 2: and fives. Then the number one prop amm on Solana
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  Speaker 2: for soul USCC volume, and so you know they're on Solana.
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  Speaker 2: You can imagine they're on other chains as well. So
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  Speaker 2: I think it's kind of of it's I mean, it's
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  Speaker 2: it's full if it's like a two sided marketplace, like
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  Speaker 2: you know, you want if you have a lot of
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  Speaker 2: retail people coming on chain and the market makers are
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  Speaker 2: going to be there and if you you kind of
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  Speaker 2: need them to like grow at the same time, market
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  Speaker 2: makers aren't going to show up in quote deep liquidity
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  Speaker 2: if there's no retail flow. So I think we're kind
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  Speaker 2: of like seeing these two things like rise at the
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  Speaker 2: same time.
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  Speaker 1: Let's talk about prediction markets. That's all the rage right now.
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  Speaker 1: We're seeing a lot of movement here. Almost everybody out
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  Speaker 1: there is partnering. Can you share anything on that?
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  Speaker 2: Yeah, yeah, we'll have prediction markets in the future. There's
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  Speaker 2: a there's no good Salona options right now. There will
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  Speaker 2: be in the in the near future this year, and
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  Speaker 2: I think, so, yeah, I don't want to make the
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  Speaker 2: announcement for this company. That's for them to announce, but
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  Speaker 2: we'll definitely echo it when they announce. And I think
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  Speaker 2: it's a it's a very cool model from like a
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  Speaker 2: technical standpoint, and I think it's it'll be a really
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  Speaker 2: good product and we'll definitely have it. And uh yeah,
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  Speaker 2: we really just like to see more people building on
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  Speaker 2: Solana like super fast, super cheap, permissionless infrastructure and so.
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  Speaker 1: Well, listen, I think we're going to find that maybe
• 10:14
  Speaker 1: here today accelerate. You know, see a lot of devs
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  Speaker 1: here quite a bit. It's already starting to mill around,
• 10:20
  Speaker 1: So maybe your wish is going to be happening soon. Yeah,
• 10:24
  Speaker 1: when you look at targeting MEB on Gita, you've got
• 10:28
  Speaker 1: to consider Citadel and Canton. How do you think about that?
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  Speaker 1: What is your opinion of what you know some analysts
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  Speaker 1: would consider there.
• 10:36
  Speaker 2: We really try to do our best mitigi any negative
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  Speaker 2: forms of ME. We have this new system called BAM
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  Speaker 2: that we're doing a lot of cool stuff and it's
• 10:45
  Speaker 2: basically a block builder inside of a te so you
• 10:49
  Speaker 2: get like privacy, confidentiality. I won't go too far in
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  Speaker 2: the weeds on this because I see people as like
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  Speaker 2: I start to glaze over when I start to get
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  Speaker 2: in the weeds. But yeah, we're just trying to do
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  Speaker 2: more to in there to allow market makers to quote
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  Speaker 2: tighter spreads, mitigate some of these negative forms of MTV.
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  Speaker 2: And you know we're doing this, there's a ton of
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  Speaker 2: other people in Solana that are doing research and showing
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  Speaker 2: data and like getting more data on tracking this. I
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  Speaker 2: think that other ecosystems have like an outdated view on
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  Speaker 2: what's going on. I think the problem is not as
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  Speaker 2: severe as they might lead people to believe. And so,
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  Speaker 2: like as I mentioned, like soul, Solana is the best
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  Speaker 2: place to buy Solana, Like the spreads are tighter than
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  Speaker 2: any sex that like the best sex. Yeah, people are
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  Speaker 2: getting really good prices on chain.
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  Speaker 1: Well, and I think we're seeing now people starting to
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  Speaker 1: realize that. So you're seeing a certain amount of adoption
• 11:47
  Speaker 1: curve that has started to take place, even in the
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  Speaker 1: last twelve months. A lot of new people that are
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  Speaker 1: coming to Solana, definitely new traders are starting to explore
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  Speaker 1: what's happening in you know, permission less changed, so very
• 11:58
  Speaker 1: cool stuff. Thanks for coming into egg Looks. We appreciate it.
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  Speaker 2: Thanks for having me.
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  Speaker 1: All right, We'll see you guys here from Accelerate, so
• 12:04
  Speaker 1: stay tuned. Thanks. If you like this video, hit like
• 12:13
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• 12:16
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• 12:19
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