Frictionless Capital

Our origin story

My conversation with @HypoNyms. As the Founder of Temporal, Ben is a true contrarian, relentlessly driving onchain innovation forward even when the market disagrees. He's spent years redefining the frontier of decentralized trading. We spend a lot of time understanding the technical breakthroughs enabling Temporal's market making and block building engines. At the center of it is a belief that high-throughput execution layers and prop AMMs are the ultimate endgame for onchain trading and global finance. Few builders possess his level of insight into the complex dynamics between block building, competitive sequencing, and deep onchain liquidity. We discuss: - Why prop AMMs are outcompeting traditional order books onchain - Harmonic and the need for competitive block building on Solana - Bringing all of the world's tradable assets onchain with Aquarium - The hidden complexities of building a highly liquid Perp DEX - MCP (Multiple Concurrent Leaders) and the trade-offs of censorship resistance - Payment for Order Flow (PFOF) and the future of DeFi market structure Enjoy! Timestamps: [00:00] Intro & The Need for Competition in Block Building [09:40] Temporal, Nozomi, Harmonic, and HumidiFi [18:54] Why Trading is the Primary Driver of Blockchains [25:46] Prop AMMs vs Order Books & Onchain Programmable Liquidity [36:20] Onboarding Global Retail Volume to Solana [43:03] The Challenges of Building a Perp DEX & Risk Management [54:52] Aquarium: Onboarding Every Asset to Solana [56:42] Global Price Discovery and Onchain vs Offchain Oracles [01:07:55] MCP, Censorship Resistance, & Sub-20ms Slot Times [01:23:01] Expanding the Humidify Ecosystem

.@jnwng of @SolanaFndn

We're excited to announce that we will be hosting the inaugural Frictionless Research Summit on November 13–14 in New York City A highly curated, invite-only gathering for founders, market makers, investors, and researchers shaping the future of the industry. Over two intensive days, participants will engage in deep discussions, fireside chats, and presentations focused on high-throughput systems, trading, orchestration, and evolving market structure.

.@0xIchigo of @heliuslabs

.@jayendra_jog of @SeiNetwork

As part of our annual Signal event, we are inviting a select number of teams to come pitch their idea in NYC live in-person. If you are a founder building a product uniquely addressing a large market, apply via the link below 👇

.@realRockyChung of @Titan_Exchange

.@Nick_van_Eck of @withAUSD 🏦

.@HypoNyms of @temporal_xyz

.@rpranav of @shelbyserves

Ash Pampati @ASHAWONN of Aptos Foundation

Portfolio Manager of @vaneck_us Digital Asset Alpha Fund, @vaneckpk

Announcing our first speaker, @Austin_Federa of @doublezero

.@Backpack just flipped Kraken on fee-paying perps volume with a product they launched 5 months ago Backpack has 25 trading pairs and Kraken has 391 and trades at $7-10b in secondary markets And this is before Backpack enables the EU or Japan regions lol 🎒

001/ We’re thrilled to announce that DoubleZero Foundation has completed a $28 million token round co-led by @multicoin and @dragonfly_xyz, with participation from @FoundationCap, @recvcx, @dba_crypto, @borderless_cap, @Superscrypt, @_Frictionless_ and others to build a new, faster fiber network for high-performance blockchains and distributed systems. It’s an N1 - not an L1 or L2, but a new network purpose built for high performance distributed systems.

0/ With each new cycle comes a leading exchange, and @Backpack is building a next generation financial institution. Crypto and open finance allow anyone to trade any asset, borrow, earn yield, transact, and securely hold their assets without restrictions.

Backpack has acquired FTX EU and its MiFID II License. Our first priority is to return all customer EURO funds on behalf of the FTX estate, followed by rolling out a full suite of spot, margin, and futures trading products. Crypto perps trading is coming back to Europe 🇪🇺