Streamflow: solution first, problem later, and the alpha on equity-backed tokens
Malisha Stanojevic, founder and CEO of Streamflow, joins Pirates Parley to walk through five years of building the token distribution platform on Solana, and to drop the news on what they are turning it into next.Malisha joined Solana in May 2021 via a hackathon, built a Sablier-inspired token streaming protocol before he knew what problem it solved, and raised his first check at the Breakpoint 2021 closing party by typing a note on his phone because it was too loud to talk. Streamflow has since had over 40,000 tokens go through its programs and peaked at two billion dollars worth of tokens in escrow.They cover:Building the solution before finding the problem, and why he does not recommend itThe first check raised on a phone screen at Breakpoint 2021A 15-person VC call that turned into an interrogationSolana Ventures backing Streamflow and two of its competitors at the same timeWhy ETH, Aptos and Sui conferences felt like a different planetThe $1-a-day customer stream that got topped up with $15,000What it feels like to sit on two billion in customer escrowStride, Asymmetric Research, and how AI is now inside their CI/CD and code reviewWhy mental health is a founder virtue, not a weaknessThe alpha: equity-backed tokens, a Cayman Islands legal framework, and Streamflow becoming an onchain capital formation platformThe STREAM token transition and the Solana Summit Belgrade rollout00:00 - welcome and intro00:30 - how Malisha found Solana via a hackathon in 202103:40 - solution first, problem later: the Streamflow origin story08:50 - raising the first check on a phone screen at Breakpoint 202113:55 - the 15-person VC call about stolen open-source code18:20 - bias for action and why perfect is not that important21:20 - ETH vs Solana culture, and Solana Ventures backing three competitors26:20 - what Streamflow actually does: vesting, locks, airdrops, staking29:20 - the $1-a-day topup that extended a stream by 11 years33:20 - two billion in escrow and the top two fears in life37:40 - Stride, Asymmetric Research, and AI in the security stack42:40 - mental health as a founder virtue48:00 - the numbers: 20 people, $2.5M in 2025, still profitable50:20 - the alpha: equity-backed tokens and onchain capital formation56:00 - Cayman Islands framework and the STREAM transition58:00 - Solana Summit Belgrade, and next week on Pirates Parley
Streamflow: solution first, problem later, and the alpha on equity-backed tokens
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Percolator: Toly's Risk Engine, Two Vibe-Coders, and the "Pump.fun for Perps
Squid and Dark are the two-person team behind Percolator — Solana's permissionless perps DEX built on Anatoly Yakovenko's open-sourced risk engine. Any token with a DEX pool gets a perp market, no gatekeeping. We get into how they CTO'd a rugged pump.fun token into an 8,500-person waitlist, why they've spent eight months and roughly $1,000 in Claude subscriptions instead of hiring, and what "formal verification" actually buys you when every market is isolated and no one steps in during a flash crash. Squid and Dark walk through the creator-stake model that filters out imbalanced markets, why they're deliberately targeting the pump.fun crowd first, and how OPSEC changes when your entire codebase is public in the AI era. Also: the name comes from a bad house track called "It's Time for the Percolator" — Toly picked it while listening to it — and apparently Squid drinks half as much coffee as I do. DevNet V2 lands end of September, then a raise, then an audit. Percolator is quoted at $300k+ to audit properly. Waitlist: percolator.trade/waitlist. Next week I'm off; the week after, Asymmetric Research on why audits cost what they cost. 0:00 Welcome — meet Squid and Dark from Percolator 1:00 Castle DAO recap and how tall Dark actually is (spoiler: not 6'7") 2:35 How Percolator came to be: CTOing a rugged pump.fun token 5:00 What Percolator is: permissionless perps for any DEX pool 8:20 Toly's role — he'll do the risk engine, nothing else 10:00 "Is Toly really that much of a dev?" — the AI-assisted question 11:10 Vibe-coding with 11 OpenClaw agents, then slowing back down 12:35 DevNet V2 end of month, then audit, then mainnet 19:25 Why the risk engine is different: formal verification and isolated markets 24:00 OPSEC in the AI era, spoofed emails, and never merging PRs 32:05 The case for open source: copiers fail, contributors help 38:30 Devil's advocate — is Percolator "pump.fun for perps"? 42:20 Closed beta, VCs, and the road to permissionless by end of 2027 50:00 Agentic trading and adopting Toly's risk engine changes 54:20 Where the name came from, 20 cups of coffee, and next week's tease
Harmonic Launches Preconfs on Triton One: Sabs on Validator Choice, MREV, and the New Client Stack
Sabs from the Harmonic team joins to launch preconfs (pre-confirmations) as a Triton One exclusive — a 15-20ms early view into what's about to hit the network, and the first time Harmonic has shipped a product through a single partner.We get into what Harmonic actually is (block production split off from the validator client, so validators plug in and get the rewards without giving up control), where the long-tail alpha comes from, and how Harmonic differs from Jito BAM — no opinions, just FIFO, 50ms FBA, or MREV, and validators pick. Sabs explains why preconfs aren't front-running bait, why they matter for market makers and prop AMMs, and why Triton got the exclusive — the short version being: don't repeat the shreds market collapse.Also: Sabs's hot take that the best way to buy SOL is Coinbase → USDC → Solana, why Grinder equity did more volume on-chain than on NASDAQ on day one, and why Solana feels like a mechanic shop full of cracked engineers next to Ethereum's white-paper crowd.Preconfs are live today, Triton One exclusive. KYC/KYB required — sign up at triton.one and open a ticket through the customer portal to get on the queue.Follow Sabs: @S4BS94 on X.0:00 Welcome — Harmonic launches preconfs as a Triton One exclusive0:35 Meet Sabs — Coinbase alum, 5 years across Solana, joined Harmonic ~7 months ago2:00 What Harmonic actually is — block production split off from the validator client4:16 Where the extra rewards come from — no rate limits, wide funnel, long-tail transactions6:38 Harmonic vs Jito BAM — FIFO, 50ms FBA, MREV, and the "no opinions" thesis10:00 Should validators run MREV? Network-aligned vs revenue-max, and what it means for retail12:51 Preconfs launch — what pre-confirmations are and the 15-20ms early view15:04 Why Triton got the exclusive — don't repeat the shreds market collapse16:56 Are preconfs front-running bait? And what if the slot gets forked?20:00 Is Solana getting too complex? Sabs: it's just TradFi with better tech23:37 Grinder beats NASDAQ day one — and the best way to buy SOL is via Coinbase27:13 Why Solana over Ethereum — "a mechanic shop with a cool car everyone's building"31:27 Vibes, dumping, and why the Solana community bulls harder when the chart bleeds32:46 Who actually needs preconfs — prop AMMs, market makers, traders, Jupiter upstream37:52 Pitch to validators + audience Q&A on multi-hop and account filters
Inder Preet Singh, Doma: 1,600 New TLDs, $70M AI.com Deals, and What Happens to Your .sol
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