Frictionless Capital

Our origin story

My conversation with @EvanWeb3 As the CEO of Mysten Labs, Evan is relentlessly focused on building the unified abstraction layers necessary to bring blockchain technology to the masses. The team is doing the hard architectural work with Sui to move beyond traditional digital ledgers, utilizing a complex object model to enable true parallelization and seamless developer experiences We spend a lot of time unpacking the limitations of EVM L2s, why top-down application design matters, and the massive opportunities at the intersection of verifiable automation and AI At the center of this conversation is the verticalization of the Sui stack from Deepbook to Walrus and the belief that the next generation of global adoption requires platforms to look more like cohesive operating systems rather than fragmented networks. We discuss: - Why the industry needs to raise the abstraction layer for global adoption - The architectural limitations of EVM chains and the failure of L2 scalability - Walrus, Deepbook, and the verticalization of the Sui platform - Why Sui's object model fundamentally differs from traditional digital ledgers - The intersection of AI and blockchain: persistent memory and verifiable trust - Unlocking Bitcoin's stagnant capital - The upcoming EVE Online partnership and the future of web3 gaming - Why blockchains must operate with sustainable business models Enjoy! Timestamps: 0:00 - Introduction: The Need for Unified Abstraction Layers 1:54 - The Scalability Maze: Why L2s Failed to Deliver 8:43 - Custom Databases: Scaling Reads and State Access 11:44 - Walrus & Deepbook: Verticalizing the Web3 Stack 1 6:16 - Beyond Digital Ledgers: Sui's Object Model Explained 22:38 - AI, Automation, and Providing Trust for LLMs 31:04 - Lessons from Libra: Permissionless vs. Corporate Chains 35:49 - Sustainable Economics: Business Models for Blockchains 41:13 - Unlocking Stagnant Capital: Bringing Yield to Bitcoin 51:46 - The 2026 Roadmap: EVE Online, Privacy Guardrails, and Product Infra

My conversation with @KeoneHon. As the Cofounder of Monad, Keone is relentlessly focused on building a credibly neutral foundation for developers, actively resisting the crypto Twitter pressure to verticalize for short-term revenue. He and his team are doing the hard, ground-up engineering required to eliminate the technical debt of the EVM. We spend a lot of time unpacking the specific breakthroughs enabling Monad's performance, from fundamentally re-architecting storage trees with MIP-8 to the massive, often-overlooked importance of optimizing the read layer. At the center of it is a belief that true scaling requires turning the dial on both higher performance and cheaper hardware requirements to maximize throughput per unit of compute. We discuss: - Why building a robust ecosystem is more important than verticalizing for Day 1 revenue - Hyperliquid, Appchains, and the true value of a credibly neutral base layer -MIP-8, re-architecting storage trees, and unlocking massive EVM performance upgrades - The unsung importance of the "Read Layer" and making RPCs developer-friendly - Multiple Concurrent Leaders (MCP) and mitigating the impact of MEV - Why "stablecoin-only" chains will inevitably have to pivot to general-purpose DeFi Enjoy! Timestamps: 00:00 Intro & Why Ecosystem Building Beats Verticalizing for Revenue 13:03 Hyperliquid, Appchains vs Decentralized Base Layers 20:26 Why Trading and Shared State is the Primary Driver of Blockchains 27:38 The Inevitable Pivot of Stablecoin Chains to DeFi 32:06 MEV, Censorship Resistance, & Multiple Concurrent Leaders (MCP) 41:12 Rethinking the EVM: MIP-8 and Optimizing State Access 44:47 The Critical Importance of the Read Layer & Ponder Acquisition 51:56 L2s, Crypto Twitter Sentiment, and Building from First Principles 58:00 Hardware Scaling and Throughput per Compute

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.