Lightspeed

Latest Episodes:

Magic Eden: Is the 10K PFP Playbook Dead? | Zedd, Tiff and Rex Aug 24, 2023

Show notes

Today we are joined by the team from Magic Eden to discuss the state of NFTs. We cover what went wrong with the 10K PFP collections, royalty fees and creator monetization, horizontal vs vertical marketplaces, Magic Eden's multichain strategy, the advantages of different L1s and more!

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Timestamps:

(00:00) Introduction

(00:47) Is the 10K PFP Collection Dead?

(05:26) Why Should People Care About NFTs?

(08:52) Royalty Fees and Creator Monetization

(20:47) Permissionless Plug

(21:47) Compressed NFTs on Solana

(28:49) Horizontal vs Vertical Marketplaces

(33:52) Magic Eden’s Multichain Strategy

(01:00:32) Yoot’s Migration to Polygon

(01:07:40) Rapid Fire

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Follow Zedd: https://twitter.com/zhuoxunyin

Follow Tiff: https://twitter.com/hausoftiffany

Follow Rex: https://twitter.com/zhouzhuojie

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

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Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

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Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

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Resources

Magic Eden

https://magiceden.io/

https://twitter.com/MagicEden

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.

The Value of Modular Blockchains | Nick White, Neel Somani Aug 22, 2023

Show notes

Nick White (COO of Celestia) and Neel Somani (founder of Eclipse) join us to debate the tradeoffs of modular vs integrated blockchains. We cover the modular thesis, how Eclipse is bringing the SVM to Ethereum, the hidden costs of modularity, centralized sequencers and L2s, where value will accrue in a modular paradigm and more!

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Timestamps

(00:00) Introduction

(01:17) What are Modular Blockchains?

(05:02) Data Availability Explained

(08:43) Light Clients and End User Verification

(19:13) Eclipse: the SVM Rollup Provider

(20:18) Why do Rollups Need Settlement?

(25:54) Jito Mid Roll

(26:58) Permissionless Plug

(27:58) Should Celestia Enshrine a Settlement Layer?

(31:02) L2 Training Wheels

(35:21) Kyle Samani’s "The Hidden Costs of Modular Systems”

(42:30) Appchains vs Rollups

(46:11) How Eclipse is Bringing the SVM to Ethereum

(47:26) Are Centralized Sequencers Okay?

(52:56) Will Crypto Apps Have a Power Law Outcome?

(57:31) Network Effects and Value Accrual

(01:07:43) Where Will Enterprises Launch Applications?

(01:11:36) Rapid Fire

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This episode is brought to you by Jito.

Jito is the easiest way to earn MEV rewards on Solana with liquid staking. Stake your SOL with Jito to start earning high yield powered by MEV and access instant liquidity through Jito’s liquid staking token JitoSOL so that you can use your staked assets across Solana DeFi. Visit jito.network to get started today!

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Follow Neel: https://twitter.com/neelsalami

Follow Nick: https://twitter.com/nickwh8te

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe on YouTube: https://bit.ly/43o3Syk

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Subscribe on Spotify: https://spoti.fi/3OkF7PD

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

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Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

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Resources

Jito

jito.network

Celestia

https://twitter.com/CelestiaOrg

https://celestia.org/

Eclipse

https://twitter.com/EclipseFND

https://www.eclipse.builders/

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Why Crypto Governance Sucks | Chase Chapman, David Phelps Aug 17, 2023

Show notes

Chase Chapman and David Phelps join us to discuss what crypto governance gets wrong. This is the most fun conversation we've had on Lightspeed yet! We cover how to make people care about governance, what's holding crypto back, the importance of onchain identity, where Balaji's network state falls short, why you can't L2 your way to PMF and more!

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Timestamps:

(00:00) Introduction

(01:46) What Crypto Gets Wrong About Governance

(11:56) Jokerace: Turning Governance Into Contests

(14:09) Friend.tech and Making Governance Addictive

(23:43) What’s Holding Crypto Back?

(24:43) Permissionless Plug

(30:29) The Importance of Onchain Identity

(37:57) Crypto’s Tribalism

(44:39) Critiques of Balaji’s Network State

(50:00) How Will Crypto’s Topology Play Out?

(53:55) Advancing Onchain Literacy

(56:01) You Cannot L2 Your Way to PMF

(59:23) Rapid Fire

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Follow Chase: https://twitter.com/chaserchapman

Follow David: https://twitter.com/divine_economy

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe on YouTube: https://bit.ly/43o3Syk

Subscribe on Apple: https://apple.co/3OhiXgV

Subscribe on Spotify: https://spoti.fi/3OkF7PD

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

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Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

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Resources

David's Substack

https://davidphelps.substack.com/archive

On The Other Side (Network State episode)

https://spoti.fi/3QFj1sH

Metropolis

https://www.metropolis.space/

https://twitter.com/0xMetropolis

Jokerace

https://jokerace.xyz/

https://twitter.com/jokerace_xyz

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Drift: Can This Solana DEX Compete With Binance? | Cindy Leow, Chris Heaney Aug 15, 2023

Show notes

Cindy Leow and Chris Heaney join us to discuss how Drift is building the #1 trading experience on Solana. In this episode, we cover Drift's core design and liquidity layers, the advantages of perps, why Drift built on Solana, vertical vs horizontal integration, Drift's distribution framework, what DeFi got wrong and more!

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Timestamps

(00:00) Introduction

(00:48) Drift: Solana’s Perpetual Swaps Exchange

(01:55) The Advantages of Perps

(04:08) The Liquidity Trifecta: Drift’s 3 Layers of Liquidity

(14:19) Drift’s End Game

(17:54) Permissionless ad

(26:40) Why Build on Solana?

(27:40) Vertical and Horizontal Integration

(31:27) Abstracting the Underlying Chain

(34:58) How Drift Approaches Distribution

(40:41) Customer Acquisition

(43:52) What DeFi Got Wrong

(54:21) Hot Takes: NFTs Fail if DeFi Fails & Mutable Contracts

(59:40) Why Are You Building in Crypto?

(01:04:47) Regulation and Building in the US

(01:07:57) Rapid Fire

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Follow Cindy: https://twitter.com/cindyleowtt

Follow Chris: https://twitter.com/crispheaney

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe on YouTube: https://bit.ly/43o3Syk

Subscribe on Apple: https://apple.co/3OhiXgV

Subscribe on Spotify: https://spoti.fi/3OkF7PD

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

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Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

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Resources

Drift

https://linktr.ee/driftprotocol

https://twitter.com/DriftProtocol

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Solana’s Ultimate Vision | Anatoly Yakovenko Aug 10, 2023

Show notes

Anatoly joins us to discuss why Solana is uniquely designed to utilize ever-increasing bandwidth and compute. We cover Solana's core thesis, how blockchains benefit from hardware improvements, the fundamental flaws of L2s, Anatoly's favorite applications, decentralization and more! Anatoly is a legend, you don't want to miss this one!

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Timestamps

(00:00) Introduction

(01:47) Solana’s Core Thesis

(10:29) The Scaling Bottleneck

(13:43) Do All Blockchains Equally Benefit From Hardware Improvements?

(17:47) Pros and Cons of Parallel Execution

(20:56) The Realities of Decentralization

(24:32) Solana’s Design Moat

(27:57) Jito Mid Roll

(29:01) Permissionless Plug

(30:01) The Fundamental Tradeoffs of L2s

(44:43) How Should Solana Approach Business Development?

(48:33) The Role of Solana Labs and the Solana Foundation

(50:18) The Compressed NFT Opportunity

(53:54) We Need to Fix DAO Governance

(55:40) Anatoly’s Metric of Success for Solana

(58:21) Why Anatoly Hasn’t Left Crypto

(01:00:12) Why an Average Joe Would Use Solana

(01:01:58) Rapid Fire

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This episode is brought to you by Jito.

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Follow Anatoly: https://twitter.com/aeyakovenko

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe on YouTube: https://bit.ly/43o3Syk

Subscribe on Apple: https://apple.co/3OhiXgV

Subscribe on Spotify: https://spoti.fi/3OkF7PD

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

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Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

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Resources

Jito

jito.network

Endgame: Proof of Governance - Jon Charbonneau

https://www.youtube.com/watch?v=toPd1vgHjVE

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Why Solana DeFi Is Crypto's Biggest Opportunity | Ansem Aug 08, 2023

Show notes

Ansem joins us to discuss why Solana DeFi is the best opportunity in crypto right now. Ansem is one of the top traders in the space who is a master of finding crypto's next narrative. In this episode, we cover the Solana opportunity, why Ansem is bullish on crypto gaming, how to think about L2s vs appchains, the closing investment opportunity, Ansem's favorite crypto applications and more!

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Timestamps

(00:00) Introduction

(01:18) Terminally Online

(03:28) DeFi Kingdoms and Crypto Gaming

(06:17) Is Speculation a Feature or a Bug?

(08:40) Jito ad

(09:44) Permissionless ad

(10:44) Why Ansem’s Bullish on Solana DeFi

(14:04) The Solana Thesis

(22:32) Navigating L2s, Modularity and Appchains

(25:39) Why People Should Be Watching Cosmos

(32:05) Building Great Products for New Users

(37:26) Crypto Twitter

(45:22) Today's Unique Opportunity

(52:15) Rapid Fire

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This episode is brought to you by Jito.

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Follow Ansem: https://twitter.com/blknoiz06

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe on YouTube: https://bit.ly/43o3Syk

Subscribe on Apple: https://apple.co/3OhiXgV

Subscribe on Spotify: https://spoti.fi/3OkF7PD

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

- -

Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

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Resources

Jito

jito.network

Ansem's Substack

https://blknoiz06.substack.com/

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Ending the Modular vs Monolithic Debate | Kyle Samani Aug 03, 2023

Show notes

We're joined by Kyle Samani, the co-founder of Multicoin Capital and one of crypto's most independent thinkers. In this episode, we cover why "monolithic L1s" is a misnomer, the value of global state, how a protocol establishes moats, why DePIN is finding product-market fit, how Kyle synthesizes new ideas and more!

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Timestamps:

(00:00) Introduction

(00:34) The Modular vs Monolithic Debate

(07:43) Bootstrapping Communities

(09:17) A Case for Rollups and Appchains

(15:33) The Value of Composability and Globally Shared State

(22:22) Permissionless Plug

(23:22) Crypto’s Moats, Meat Space and the Saga Phone

(28:38) Don’t Sleep on DePIN

(45:11) Spatial Computing and New Form Factors

(53:42) Kyle’s Thinking Process

(57:49) Zero Knowledge Proof Use Cases

(01:04:21) How Kyle Cultivated His Communication Style

(01:06:03) Advice for Founders

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Although our guests this week are managing partners of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin’s investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice.

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Follow Kyle: https://twitter.com/KyleSamani

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe on YouTube: https://bit.ly/43o3Syk

Subscribe on Apple: https://apple.co/3OhiXgV

Subscribe on Spotify: https://spoti.fi/3OkF7PD

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

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Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

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Resources

Multicoin Capital

https://multicoin.capital/

Unlocking Payments Over Crypto Rails

https://multicoin.capital/2022/12/08/unlocking-payments-over-crypto-rails/

Stratechery (Ben Thompson)

https://stratechery.com/

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

DRiP: Crypto's Best Shot at Mainstream Adoption | Vibhu Norby Aug 01, 2023

Show notes

We're joined by Vibhu Norby, the founder of DRiP, to discuss why DRiP is crypto's best shot at mainstream adoption. DRiP has already minted 18 million NFTs to 800 thousand wallets. If one crypto app has found product market fit, it's DRiP. In this episode, we cover what makes DRiP unique, what crypto should learn from the gaming industry, how creators can leverage DRiP, the future of NFTs, how DRiP will forever change Solana and more!

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Timestamps

(00:00) Introduction

(01:15) What Makes DRiP Unique?

(11:34) DRiP’s Insane Growth

(14:28) Community Pushback and FUD

(17:49) How Gaming Inspired DRiP

(22:09) Learnings from Working with Tony Fadell

(26:16) Jito Promo

(27:16) Permissionless Promo

(28:19) Why Vibhu Doesn’t Like Curation

(30:54) How Can Lightspeed Leverage DRiP?

(33:17) Tracking and Attribution on DRiP

(36:46) DRiP’s Business Model

(39:19) Predicting the Future of NFTs

(42:21) Why DRiP is Only on Solana

(44:48) How DRiP Will Onboard Millions of Users to Solana

(48:58) Competition, Products vs Distribution & Building in Web3

(01:01:36) Rapid Fire

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This episode is brought to you by Jito.

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Follow Vibhu: https://twitter.com/vibhu

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe on YouTube: https://bit.ly/43o3Syk

Subscribe on Apple: https://apple.co/3OhiXgV

Subscribe on Spotify: https://spoti.fi/3OkF7PD

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

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Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

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Resources

Jito

jito.network

DRiP

https://linktr.ee/drip.haus

https://twitter.com/drip_haus

DRiP analytics dashboard

https://analytics.topledger.xyz/tl/public/dashboards/7XqwqSZ3r7aYD5EVBwd67VHQ3Y1pXrq0agQptxuU

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Compressed NFTs: Solana's Secret to Mass Adoption | Tensor's Co-founders Jul 27, 2023

Show notes

In today's episode, we're joined by Ilja Moisejevs and Richard Wu to discuss how Tensor is building the #1 NFT marketplace in Solana and why compressed NFTs are Solana's new unlock. We cover why Ilja and Richard chose Solana, the advantages of professional vs retail products, compressed NFTs, Tensor's roadmap, crypto's path to mass adoption and more!

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Timestamps:

(00:00) Introduction

(00:20) Tensor: NFT Trading for Prosumers

(04:28) Why Build NFT Infrastructure?

(07:57) How Did You Choose to Build on Solana?

(12:31) Path Dependency: Expanding From Pros to Retail

(15:19) Competition

(18:57) Loyalty Points and Hyperscaling

(21:07) Compressed NFTs: The Unlocks and Tradeoffs

(36:23) Permissionless Ad

(37:23) Tensorians: Tensor’s NFT Project

(44:20) Tensor’s Roadmap and Owning the User Relationship

(50:32) What You’ve Learned as a Founder

(01:02:47) Rapid Fire

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Follow Richard: https://twitter.com/0xrwu

Follow Ilja: https://twitter.com/_ilmoi

Follow Mert: https://twitter.com/0xMert_

Follow Garrett: https://twitter.com/GarrettHarper_

Follow Lightspeed: https://twitter.com/Lightspeedpodhq

Subscribe on YouTube: https://bit.ly/43o3Syk

Subscribe on Apple: https://apple.co/3OhiXgV

Subscribe on Spotify: https://spoti.fi/3OkF7PD

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

- -

Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023

- -

Resources

Tensor

https://twitter.com/tensor_hq

https://linktr.ee/tensor_hq

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Disclaimers:

Lightspeed was kickstarted by a grant from the Solana Foundation.

Balaji Srinivasan: Crypto Networks, Sovereignty and Decentralization with Akshay BD Jul 25, 2023

Show notes

In today's episode, we're joined by Balaji Srinivasan and Akshay BD to discuss crypto networks, sovereignty and the practicality of decentralization. If you only tune in to one episode of Lightspeed, this is it. We discuss if crypto is a bet on tech or financial collapse, blockchain infrastructure ideologies, Balaji's Network State, how to build effective communities, the future of open source, combatting tribalism and more!

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Timestamps:

(00:00) Introduction

(03:01) Is Crypto a Bet on Tech or Financial Collapse?

(08:04) Appchains vs Monolithic vs Modular Ideology

(13:07) Why Akshay Joined the Solana Community

(14:49) Jito Promo

(15:54) Permissionless Promo

(16:54) The Network State

(31:21) Market Depth and the Overton Window

(37:25) How to Build Effective Communities

(43:43) Three Ways to Align People