OU

It's been a shockingly bad start to the year for long short equity, primarily due to the surge in heavily shorted junk stocks. The GS Most Shorted basket has jumped +18.3% year-to-date, causing the long short equity hedge fund proxy* to decline by -13.7%. Moreover, the long short equity hedge fund proxy has fallen nearly every single trading session in 2025, highlighted by a particularly nasty -4.1% today. Painful. *Long short equity hedge fund proxy = GS HF VIP basket - GS Most Shorted basket

Common Prefix is taking the lead stewardship role of Axelar. We are excited to share our plans for 2026, with more details to be announced in Q1. Our team consists of scientists–professors, PhDs, and post-docs–from world-renowned universities like Stanford, Imperial, ETH Zürich, and University of Edinburgh. But also senior engineers with decades of experience in hedge funds, TradFi, and Web3. We bridge the gap between science and engineering. We are razor-sharp focused on institutional adoption. For this, we will double down on the ecosystems that matter like XRPL, Sui, Solana, Ethereum, Stellar, and Hyperliquid. We will make sure that supported connections bring value to the ecosystem, and the right incentives for validators. For institutional, we need increased economic security. We’ll enable co-staking of blue chip tokens beyond just AXL. Privacy, compliance, and robustness will also be a theme for the year. For bridging, we will remove friction of moving assets from chain to chain by introducing gasless bridging. Subsidies will come from investing capital locked in gateway contracts, creating novel asset classes. Users will always have the choice to act according to their risk appetite. Lastly, we’re building up-the-stack in select key verticals: stablecoins, tokenized deposits, yield, and lending. A fusion of new chains creates an opportunity for new emerging asset classes.

𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐔𝐩𝐝𝐚𝐭𝐞: With reinforced conviction from our investors and core contributors, we’ve implemented a key update to the lock up structure for early backers: ✦ 𝐔𝐧𝐥𝐨𝐜𝐤𝐬 𝐡𝐚𝐯𝐞 𝐛𝐞𝐞𝐧 𝐩𝐮𝐬𝐡𝐞𝐝 𝐭𝐨 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟐𝟎𝟐𝟔 — 𝐫𝐞𝐬𝐮𝐥𝐭𝐢𝐧𝐠 𝐢𝐧 𝐚 𝟔 𝐦𝐨𝐧𝐭𝐡 𝐞𝐱𝐭𝐞𝐧𝐬𝐢𝐨𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐨𝐫𝐢𝐠𝐢𝐧𝐚𝐥 𝐮𝐧𝐥𝐨𝐜𝐤 𝐝𝐚𝐭𝐞 This applies to all early backers and core contributors, ensuring that everyone operates under a single, aligned schedule. From the beginning, the Plume Foundation has been committed to building with integrity, transparency, and long-term alignment. That commitment doesn’t stop at technology – the RWA space accelerates and we continue to build with our institutional partners, developers, and community. We’re building something meant to outlast market cycles. This update reflects that intention, while also aligning with evolving regulatory best practices, particularly in the U.S. It brings added clarity and accountability to our contributor and investor base. Our team is grateful to every backer, contributor, and community member who’s helping us build the future of RWAfi - together 🪶