XRP vs SOL Outlook🔥Solana Foundation INTERVIEW

Ripple’s Swell 2025 conference in New York has quickly become one of the most talked-about events in the crypto and finance world. Meanwhile, Solana’s on-chain ecosystem has grown sharply in recent years, with total ecosystem value locked (TVL) rising from $3 billion in December 2023 to $35 billion in 2025.

~This episode is sponsored by iTrust Capital~
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Guest: Vibhu Norby - Product Marketing, Solana Foundation
Follow Vibhu on X ➜ https://x.com/vibhu

00:00 intro
00:08 Sponsor: iTrust Capital
00:40 XRP Reaches Peak FUD
01:22 Ripple Swell Recap
03:15 Vibhu vs XRP Army
04:41 Will SOL Flip XRP Again?
06:39 Regulatory Suppression
10:28 Meme Coin Liquidity Dead
13:10 Ripple Bringing New Liquidity
14:59 Stablecoins & RLUSD
21:53 uXRP Launched on ETH Before Solana
24:29 Why did Robinhood Build on ETH not SOL?
26:09 Avalanche Dominating RWA
26:49 Solana Missed Polymarket
28:59 Kalshi vs Polymarket
30:45 Solana Mobile customer support sucks
32:06 Solana gaming dead?
34:36 $SOL Price Prediction
36:34 Solana Breakpoint
37:15 outro

#Crypto #XRP #solana 
~XRP vs SOL Outlook🔥Solana Foundation INTERVIEW~
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Episode Transcript

Speaker 1 (00:00):
Let's dive into XRP and Solana why you should have
owned both of these assets. We'll break it all down.
We've got a special guest for you guys today. You
don't want to miss it. Let's just jump right in.
I do want to thank our sponsor, and that is
I Trust Capital. One of the things that I Trust
has enabled you guys to do that is kind of
unique is they have expanded staking within the Ethereum program,

(00:21):
and of course that's available. We're hearing that there may
be staking coming on other tokens very soon as well.
So if you're not part of the I Trust ecosystem
out there, at least on getting a cryptoira in play,
go over to I trustcapital dot com. Use our link
down below. It's going to give you like one hundred
bucks in funding reward. All right, So we're going to

(00:41):
get into it today. We brought on Vboo. I'll bring
him on here in a second. But before we get started,
of course, you guys probably saw there was quite a
bit of activity out there on Twitter. Really it was
talking about Solana versus. We kind of looked at it
in a different light, and that is from a Salana

(01:03):
and XRP standpoint as both. But many of the things
that I think the Salon community we're talking about was
addressing some of the challenges that Ripple and XRP had represented.
The interesting point is we got a lot of that
answered at the Swell event this year. Let me play
a clip for you guys, then we'll bring in Vivu.

Speaker 2 (01:24):
Ripple has been building these solutions on the foundation of
the XRP ledger. It stood the test of time for
well over ten years, and with Palisades wallet infrastructure, all
of these things together are giving us a full end
payment suite for our customers.

Speaker 3 (01:40):
They see hundreds of billions of dollars of deposits that
are perhaps more useful if in a token I SED
form like oh, let's say RUSD. I do think we'll
probably slow down the acquisition.

Speaker 4 (01:50):
Binge, but that still leaves you with two months. So
I guess, do you have any ambitions to own a
crypto exchange?

Speaker 3 (01:56):
We are very happy investors in a number of different
crypto exchanges, bitstamp and bitso and p d x others.
You know, we don't compete with coinbase, but a little
bit here. Although we are a competitive circle. I root
for our o USD a little bit more. But at
the end of the day, we want to do things
that are good for the XRP ecosystem, trust an XRP
utility and XRP, and we want to build liquidity and XRP.

(02:19):
Each of the acquisitions we do, you know, in one
way or another, we believe it will do those things.
Some people may look at it and like, h I
don't really know, scratch their head a little bit. Well,
I promise you that we see in the three dimensional
game of chess. We see how we believe that's going
to evolve. You know, sometimes we'll probably do things that
are more obvious and some less obvious.

Speaker 4 (02:37):
That's okay with us.

Speaker 3 (02:38):
Now on XRP specifically, look do I do I think
that we have room to grow.

Speaker 4 (02:43):
Absolutely.

Speaker 3 (02:43):
I think as we get more regulatory clarity.

Speaker 4 (02:46):
You're going to see more institutions, more capital, more entrepreneurs.

Speaker 3 (02:49):
We don't advocate that it's the right you know, one
size fits all, that you should do everything on the
XRP blockchain. There's other blockchains are going to be better
at different use cases and that's great, but we think
that will continue to cheat campion xrpuse cases we think
are uniquely good.

Speaker 4 (03:03):
On that watching, I guess it's not surprising then that
the banking industry is not exactly thrilled about this.

Speaker 3 (03:08):
The bank doesn't want competition because they've done a shitty
job of serving their customers.

Speaker 1 (03:17):
V Bu, who comes in from the Salona Foundation, put
out this tweet Everything in the community is conjecture, conspiracy, hope, etc.
The point was is, I think a lot of what
had been kind of still not necessarily said, was said
by the CEO of Ripple and is addressing many of
those challenges that I think a lot of the community

(03:37):
had maybe questioned and we're not sure of. And of
course well kind of cleared up a lot of that.
So I wanted to bring in v Bu from the
Salana Foundation to kind of just chat a little bit
about not only that, but also what's going on within
Solana itself. Welcome to the show.

Speaker 4 (03:54):
Thanks for having me. Man. It is weird to see
the tweets show up on a screen and have someone
read them. It's like a out of body experience.

Speaker 1 (04:02):
Well now you know it's it happens all the time.

Speaker 4 (04:06):
Uh.

Speaker 1 (04:06):
And of course we we had a chance to kind
of follow the industry pretty closely. So we obviously see
kind of the benefits of both these chains out there,
whether it's x ORP on what the ripple community is doing.
Obviously we're big fans of Solana as well. And one
of the.

Speaker 4 (04:22):
Reasons I talked for four years ago.

Speaker 1 (04:26):
Actually here's here's the video right there. Three years ago
we were talking about the time of Solana Physical NFT
merch store. I think it was opening here in South Florida.

Speaker 4 (04:37):
Times here we survived.

Speaker 1 (04:40):
We have survived, So that's a good that's a good thing.
First of all, when we talk about where the market
is going. If you look at just where the the
potential is of top ten, because there's a lot of
shifting around right now in the top ten, Solana holding
the number six position could be in a position to
seize that number four slow if if it leaps over

(05:01):
BNBN XRP. What do you think do you think Solana
will flip XRP at some point?

Speaker 4 (05:06):
I like, I feel like if I answer that question,
I'm going to get like a whole bunch of emails
from the Salon Foundation legal team. My general comment and
price in market CAAP is that there's no industry like
crypto where reality and usage, price and market caap are
so far uncorrelated. Even if we spoke about the performance

(05:28):
of the chain and the products themselves, which is what
I'm focused on, that doesn't you know, I don't think
in the short term that ever translates to what happens
with the price. I do think that at some point
we're going to exit this like historical everything market everything
up market that we've been in for a while, and
people are going to care about value and what these

(05:50):
assets are fundamentally producing. You know. When that happens, I'm
not really sure, but I think we're focused on building
real things that people use well.

Speaker 1 (05:57):
I would I would say that there probably was a
time in history where correlation to value was also very
opposite of each other. It was really if you think
about it, it was the early dot com era. You know,
if you think about mid nineties going into the dot bomb,
there was a lot of valuation there that was much different.
I know a lot of people kind of reference this

(06:19):
time in history to that. I would argue that that's
not the case because many of these companies that exist
today are actually profit generators versus many of the companies
that existed back then were literally blue Sky companies going
into the dot bomb. So maybe it will play out differently.
We'll see how it goes from XRP of course won

(06:42):
their case, and then immediately turning around, we had tariffs
that came in and hit this token again, even though
it did come up. You know, in general, I'm just
kind of I'm kind of curious when you look at
the suppression of many of these projects, including Solana, because
I would say Clarity Act would be suppressing Salon. Once
we see Clarity go through and other regulatory frameworks, do

(07:04):
you think a handful of these tokens, including what's happening
in the Slana ecosystem, will explode.

Speaker 4 (07:10):
I don't really agree with the idea that there was suppression.
Blockchains at their core are decentralized pieces of instructure there
are effectively immune to regulatory pressures. I think what happened
this year was more so that the traditional financial players
started to feel comfortable engaging with the industry in a

(07:31):
meaningful way. But like Solona has been building for five years,
long before any of the any of this twenty twenty
five kind of happened, and obviously bitcoin has been around forever.
I mean there's like if there's been running for over
ten years. I don't really subscribe to that view.

Speaker 1 (07:48):
I suppose well in the sense of when I say suppression,
maybe not necessarily in price, but the opportunity for these
markets to see their true value to what market value
could Because if you listen to Larry Fink and almost
every asset manager out or they think, you know that
tokenization is the next evolution of the Internet except for

(08:09):
financial products. So so there's a lot if you think
about it, we're not there yet. We don't have hardly
any of that really taking place from where the market
could be.

Speaker 4 (08:19):
No, I agree, I agree with that, like on tokenization,
it's quite early. I think that a lot of times
that's used it as an excuse to say that like
most of the industry has yet to come on board.
And the fact is that this year the gates broke
and there's been this stampede of interest in crypto from
all walks of life, institutional on retail. But getting to

(08:41):
this moment has required building like fast performance chains that
are you know that's introduced that have programmable elements to them,
and it's it happens through momentum and over a long
period of time, and I think, uh, there's already been
a lot of that in advance this year that allowed

(09:01):
us to get to this point. I don't think you
can excuse the lack of traction certain chains today because
the industry is going to be much bigger, if anything
like now is the time I think when these base
layers are really standing out and differentiing themselves and picking
up a lot of speed. I just don't see the
scales of this stuff really changing meaningfully from where it

(09:24):
is in like a decade or so. I think we're
seeing the like the ground flow right now.

Speaker 1 (09:30):
Okay, So to your point, you know, I want to
hit on one thing, and that is the institutional side
of things, because even you mentioned that there has been
intrepidation by institutions. Really until now, has this been the
river first time that we've seen true interest from institutional
at least at scale, when you've got black Rock, Citadel

(09:51):
and everybody else out there starting to move in on this.
So I would say that in some cases there has
been some suppression just because of that, along with regulatory framework,
which is now clear at least on Clarity Act, not yet,
but at least on the Genius Act, so that in
itself is still very early stage. So yes, I would

(10:14):
agree with you. There's a lot of different technologies, including
what's going on with Solana, but within others, including XRP
and probably some others. Chain Link would be another one
that will probably see some pretty big adoption curves taking
place very soon. When you look at the amount of
liquidity that's in the market right now. This was a

(10:35):
tweet by winter Mute and they hit on something that
was kind of interesting here. Liquidity drives cryptocycles. Now the
money has stopped flowing in, so they're basically saying no
new money is coming in. It's basically a slush people
slashing around doing trades here and there. I mean, Solana
has been a big part of that, just because of
the meanpoint coin activity, what we saw in the Solana

(10:57):
ecosystem over this twelve months. What do you make of that?
Do you think we're going to see a final breaking
of the dam in terms of new liquidity coming in
to the market.

Speaker 4 (11:08):
You know, I'll just comment at least on in the
last week, you know, the Slama ets were finally approved.
That was something that's been kind of on the doctor
for a long time. We saw about half a billion
dollars of inflows. We've had six or seven straight days
of net inflows that were positive for Salona ETFs. There
is a big disconnect, I think, between the retail side
of the like the on chain universe, and what's happening

(11:30):
on the institutional side with the assets themselves. In my opinion,
like the on chain side has basically been in a
bear market for money for probably since since February. I
think that's like the on chain side is very driven
by by metas. So Slana peaked around forty eight or

(11:53):
forty nine percent of it of its dex volume was
mean coins in January. Today it's sitting around seventeen percent.
But what happened with like the Trump mean coin launch
for example, at least on Solana had a rippling effect
on the entire industry, Like it brought in more users
and more people into crypto than almost anything else. And
that's and there's a lot of like metrics that you

(12:14):
can go look at to kind of see see that effect.
And I think since then there hasn't been like, you know,
something quite as like monumental on the on chain side,
other than mad Purpose, which have been like you know,
a huge, huge, you know, emergent market this year and
one where Solona is is you know, quite behind in

(12:34):
my opinion, Why doesn't it matter? The reason the reason
it doesn't it doesn't matter is that most people don't
look at this stuff. Like when they're making decisions about
investing in XRP or Solona or any of these tokens,
they're doing that without actually understanding the fundamentals of the
things they're investing. And they're not using DeFi they're not interacting,
they're not trading on chain, they're trading on their changes.

(12:56):
So again, I you know, to the point of like
this disconnect between usage and price, like they just they
continue to kind of exist in these two separate realms.
We'll see, we'll see when that returns to earth.

Speaker 1 (13:10):
But yeah, well, and I think the point that you
have to consider now is the amount of institution institutional
support that we're seeing on the XRP side of things.
This announcement of you know, half a billion dollars going in,
that's just crazy in terms of institutional support. So that
in itself is going to end up spurring on institutional

(13:33):
interest at least in that ecosystem.

Speaker 4 (13:35):
You're talking about Ripple or XRPY.

Speaker 1 (13:37):
Ripple and XRP as a whole, because Brad in the
first video we put out there had clearly made a
point of saying, hey, XRP is part of this ecosystem,
It's going to be part of how we basically institutionalize
all of our assets. And obviously rl USD was what
he was talking about XRP. And then now we see
this major support from you know, trad file.

Speaker 4 (14:00):
Yeah, but in what specific way is Excorp part of
ripples planet other than him saying that, like, how is
ex rep being used specifically?

Speaker 1 (14:08):
The key here is going to be getting into what
they're doing within the treasury mechanisms, and that in itself
is probably going to be one of the catalysts. I
think that will only give it more support. Now, does
it get the kind of support from a stance of
investors that are going to be coming in, whether they're
new or they're mostly XRP family type people that are
out there investing in XARP as a whole. I think

(14:31):
the bigger picture here is the fact that we're seeing institution.
I think it was even Matt Hogan was talking about
this today is he said, hey, you know, right now
retail is at a point of inflection either getting out
or just waiting for what is going to happen, which
is more of a slow, steady slog from institution, which

(14:52):
starts to look at a lot of those kinds of
projects such as XARP Ripple as a whole. So I
think that's.

Speaker 4 (15:00):
I'll say that the non experts, I mean, I would
say that like this year has been the year of
stable coins. When you think about institutions, it's been that's
the storyline that they want to participate in. And my
takeaway from watching the Ripple news was that Ripple is
pivoting to stable coins. And that makes a lot of
sense because Ripple services like Ripple is a real business

(15:22):
that services institutions. But I think that the original vision
for XRP, which was to be this kind of bridge currency,
has basically been invalidated by stable coins. Like we are,
we have like much better ways now of transferring value
that don't require going through like these volatile cryptocurrencies, and
certainly like you know Solana for example, we have almost

(15:42):
fifteen billion dollars of stable coins on on chain from
a number of different providers. It's not a there's no
enshrined stable coin like there is in the on the XRPL,
which just had a billion dollars. Like unfortunately, even here
Ripple is playing catch up because the industry, like we've
been aligning around stable coins for a long time and
and you know, it's good to see them kind of

(16:03):
come onto the like the winning side in terms of
like what's happening with actual settlements. But to say that
benefits Excorp, I think is a huge, huge stretch and
like it's it's basically fiction at this point.

Speaker 1 (16:13):
Well I would disagree with that, but that's just you know,
our position.

Speaker 4 (16:17):
I think, Well, tell me about tell me what.

Speaker 1 (16:22):
I'm not here necessarily to debate, just that My point
is is pointing out the facts of what Ripple stated
as well, which I think we're pretty clear. And then
of course aril USD that is a stable point.

Speaker 4 (16:32):
But they've been stating this about XORP for thirteen years, right,
like and when I look at the XRPL, like the
actual usage, the actual usage is laughable, Like they have
something like I think yesterday there's seventeen thousand people interacted
on Ripple Cornate extorpiece. Can you can go look at
the state of yourself on Somana, there's two point seven
million active wallets on the chain. Like we're talking about

(16:53):
like orders of magnitude differences in terms of like what's
actually happening on on chain. I think like the idea
that like institutions are going to come and buy you know,
x RP and size to act as an intermediary currency
of any sorte like that. Again, that entire thesis has
been invalidated and Ripple is proving with every announcement they've
made that they're pivoting completely completely to stable coins, which

(17:16):
makes complete sense to me, like that that is what
that is deep pivots to make today.

Speaker 1 (17:20):
Yeah, the key here is it's it's really built around
more on the stable coin that Ripple has, which is
r O R s D, and that of course is
where the institutional model will work. That correlates for what
the use cases count XRP.

Speaker 4 (17:34):
So yeah, why does it correlate to the use space
for x r P though in that.

Speaker 1 (17:38):
Well, it's part of the infrastructure with r l U
s D and x RP. That is, it's a tandem
you know, in that mode.

Speaker 4 (17:46):
Sense though because most of the rust lives on ethereum.

Speaker 1 (17:49):
Right, that is correct. So in what way it is
that they're not going to use r l u s D.
Is that your point that they're not?

Speaker 4 (17:56):
No? My point is that No. My point is that
that ripple. I give them credit. They're very they're led
by extremely smart people. They manage their balance the exceptionally well,
and they've been able to, you know, build some real
businesses here. But it's very clear that that they are
aligning themselves around stable coins, and I think the XRP

(18:16):
community needs to understand and wake up to what's actually happening,
which is basically stable coins like that is like that,
that's the that's the big play that they're making. Again,
all respect to them, because that's the right move, but
they are far behind on stable coins. I mean they
are like well, XRPL, which has well, I don't know

(18:37):
that around one hundred million dollars.

Speaker 1 (18:39):
Yeah, it's it's a billion dollars in terms of where
r l USD is.

Speaker 4 (18:43):
Right, ninety percent of which is not on.

Speaker 1 (18:45):
XRPL ten ten months in. But at some point, what
they're doing in terms of building a financial stack is
they're trying to get into a position where essentially the
Ledger is going to be the cornerstone of this. Obviously
that's tied to r l USD. So I think the
connection is here and it's very short. Okay, Well, according
to what garling House is telling us, we can only

(19:07):
go off of what the CEO of Ripple is saying
is that this is the plan. So if they execute,
then this model would be in essence the model that
they've been trying to build. Now, granted, you throw the
lawsuit out of the situation, you throw what's happened with
the administration, which has been anti crypto for quite some time.

(19:28):
To me, this is a brand new frontier for all tokens,
whether it is Ripple, whether it is Solana, you know,
almost anything that's got any kind of modicum of use
case there's an opportunity here.

Speaker 4 (19:40):
I mean, I think that is probably not true. And
the reason why is that crypt like digital assets are
now already like a three or four trillion dollar industry.
This is in like ten years ago, increasingly mature industry
with a lot of you know, a lot of technological progress.
What is true is that Ripple is emerging and saying

(20:01):
stable coins matter, and that is really really awesome to
see and I think that, like I hope that the
people that are holding extra pe understand and are given
access to what Ripple actually plans to do, which seems
to me to basically build a stable coin settlement business.
And yeah, that's awesome, but like, unfortunately, of all three

(20:22):
hundred billion stable coins that have been minted across all chains,
our l USD is one three hundredth of that. They
are absolutely playing ketchup like that is, there's no doubt
about that. It doesn't mean they can't win, but they
are really coming from behind here.

Speaker 1 (20:36):
Yeah, I think when you yeah, when you layer in
the institutional component, that does change the game quite a bit.
Because of the amount of institutional capital, it could go
in this direction very quickly. So yeah, you know, just
in this in the.

Speaker 4 (20:50):
Est capital is on all chains, right, Paul, Like you've
you've probably I know you track all chains, so you've
probably seen like like for example, like talking about you
talk about Blackrock, black Rock has you know, two hundred
and fifty million dollars on of assets on Salom. They
have five hundred million dollars of assets on you know,
ap Toss and some of these other fast chains Like yeah,
like these institutions are putting their assets across many different chains.

(21:13):
They're looking for liquid, looking for new holders, sure, looking
for the yield, you're looking for revenue on these things
that they're going to pick the chains that that can
help them do that. In my opinion, they're going to
be on pretty much every chain like that. There's there's
no doubt about it.

Speaker 1 (21:25):
Well, I think it's still this is the I think
it's early enough in the game with where stable coins are.
Obviously we saw Kathy would talk about this even today,
is that stable coins are really the new play. Key
here is going to be the companies that are far
enough along, whether it's partnerships, integration into trad fi, which
I think obviously what Ripple is trying to do, as

(21:48):
well as are the other chains out there that are
trying to go in this direction. So it's not it's
not unique to them in general. I want to flip
over to a few other areas. One of course, UXRP.
This is one UH to kind of compare against. This
was launched on Cantana and Base before Solana. What was

(22:09):
what was the reason that you think that occurred.

Speaker 4 (22:11):
I'm not familiar with the story. I know about the assets,
but yeah, I'm not sure. Like, let me say this
like a little bit of like uh inside baseball, only
this is well known by the general public. Like when
you see small blockchains rolling out r w a's and
stable coins, vast majority of time these are directly incentivized

(22:32):
by those foundations. So they pay basically BIPs on every mints,
every transfer, and every hold, and that comes directly out
of the foundation's balance sheet. You know. Basically they are
paying to create these narratives and these you know stories
that that echo through YouTube channels like yours where they
have something to kind of announce. But ultimately, like these

(22:53):
assets sit on these chains, they aren't productive at all.
And once those exclusivity boundaries left up, they take those
assets and they put them onch of the chains where
there's actually yield, there's actual usage. There's no single announcement
that ever really impressed me, because I know the inside
baseball here is that people are paying for yeah, for
usage that we're paying to like basically inflate their metrics.
And this is a game that's mature change like Slant

(23:16):
foundation really don't participate in.

Speaker 1 (23:18):
To be honest, this has been in crypto for quite
a while these kind of deals are being made. We
know that you know, all of this is occurring.

Speaker 4 (23:26):
Yeah, the term is that hundreds of these chains will
go out of business in the next five years, give
it a couple of years, and like reality is going
to be pretty tough for these small chains here.

Speaker 1 (23:35):
Which I would I kind of agree with that in
the sense that I think a lot of this liquidity
and a lot of this capital is going to roll
up and it kind of like what it did in
the bomb era, what we saw in the early stages
of social a lot of those early stage VC companies
that were basically blue sky companies, they were doing the
exact same thing, you know, paying for partnerships, trying to

(23:57):
get under percentage, trying to get on the front of
the narrative, making that basically a VC play into the
capital hoping that they might win something and actually develop
a piece of product, which to your point, I think
this is going to end up rolling up into the
top tier assets, which may be the play that the

(24:17):
institutions are going after right now, which is really top ten.
Solana of course would be part of that, a handful
of others, maybe even a new entry. If you think
about what could happen if polymarket comes to market with
a token. One thing though that's interesting to me is
when you look at the scale in which companies are building.
You look at Coinbase building one, Robinhood, Kraken, et cetera,

(24:41):
all of which have selected Ethereum, not Solana. What would
be your argument as to when major companies like that
would be building within the Solana ecosystem to do what
they're trying to do individually.

Speaker 4 (24:57):
I mean, I would say, first of all, like all
of those guys are all so building things on Solana
apart from Robinhood Coinbase, for example, we have a very
deep relationship with them in a number of ways, and
I would just keep your eyes peeled for the next
couple of months. I think there's a lot more coming
down the pike there in terms of uh kracking. You know,
we launched x stock with Kracken, which is like the

(25:20):
first like real way to get exposure to stocks on chain.
I think we just like pass a billion dollars of
volume on those soakens or something like that on so
which is pretty cool. Yeah, I like, you know, I
personally I think, you know, uh, it makes a lot
of sense to uh to build nol too. If you're
planning to launch a token of your own and you
want to try to capture the underlying value like that,

(25:42):
that kind of makes sense. I think Solana is built
for a different type of a different type of founder.
We really have won the consumer layer. I would say,
like people who want distribution to to an end user
end up coming to Solana. It doesn't. I don't think
it concerns us that people are building elsewhere like I
do think Solana has stood out first distribution we talked to,

(26:03):
like any corporate or any startup founder salons on their
mind when they're thinking about reaching millions of people.

Speaker 1 (26:11):
What do you make of Avalanche's strategy. Obviously they've been
able to go out there and really address this. I'm
just looking at in general, the idea around r WA's
and where Avalanche has been able to kind of hold
this position. How would you say that is different than
what you're mentioning there.

Speaker 4 (26:35):
I mean, I don't really know that much about Avalanche,
to be honest, but I think my comments from before
probably are pre relevant here.

Speaker 1 (26:45):
Okay, all right, fair enough, Okay, Well let's just jump
over to polymarket. When you look at polymarket and the
explosion that we've seen, and the likelihood is this is
going to become one of the major projects out there,
probably when they of the US market. It's gonna just
absolutely own nuts prediction markets. Why has Salona not been

(27:05):
in this game?

Speaker 4 (27:07):
Oh, we're definitely in this game, Like definitely in this game.
So first of all, you can deposit into polymarket with Soul,
same with Kelshie so Calsh's poly Market's biggest competitor. We
have a builder program with Kelshi. They just announce and
partner with Juper Exchange, which are the biggest DEXs Andal
crypto that's built on Slana so calchial liquidity, and these

(27:31):
prediction market liquidity is now tradeable on chain. I want
to say we lead in the terms of the number
of prediction market products are neededly built on Salona. Across
all chains. We have more than twenty five things like
melee markets, things like P and P, a long list
of folks that are building really bleeding edge kind of
prediction market products. You can also access poly market directly

(27:51):
from Soeul using something called Fireplace DOGG. So I think
we're kind of all over this, like one trying to
plug into the biggest players here. And then two, there's
application layer that's developing where you have like bleeding edge
types of prediction market products. Like an example of this
is like we have Melee, which has been doing really well,
and they have you like bonding curve style prediction markets.

(28:13):
So if you make a prediction early on in the
market and any any prediction markets similar to like a
mean coin like, you actually kind of get in early
and the value of your prediction kind of multiplies from there.

Speaker 1 (28:30):
Well, I agree with you in the sense that we
are seeing a burgeoning prediction market. Most of the transactions though,
are being done on polygon USDC, at least on poly Market.
Granted that may not be the case with Calci, but Calci,
I just you know, if I'm betting on one of
these to win. I'm kind of leaning toward Copeland's project
right now based on the kind of efforts they've done

(28:52):
and also just the accuracy and their ability to cross
into so many different veins of life, including politics, sports,
et cetera. It seems like poly market might be the
winner here. So she's crushing it too.

Speaker 4 (29:04):
I wouldn't, Yeah, I would. I wouldn't throw them out.

Speaker 1 (29:08):
I'm not there could be two winners. There could be
two winners here for sure, because I mean, let's be honest,
cal She had a little bit of an edge because
they were a US base. They were also regulated here
in the United States versus where poly Market is not
and was not regulated and is just now getting to
the point where they will be on even keel with
with Calshi. Do you think in a year from now

(29:30):
that we will see Calshi and poly Market on the
same level, or do you think it's going to be
the difference between from you know, in Nvidia.

Speaker 4 (29:38):
And av I think, I mean from a from a
volume perspective, they're actually like pretty close. I don't have
the numbers in front of me. I could pull them up,
but there really aren't that That's yeah, They're really not
that far apart, just in terms of actual usage. They
have distinctly different strategies and cal She's pursuing more of
a platform strategy, which you can see by you know,
how they're trying to enable their builders to kind of

(29:59):
build on top of their underlying liquidity in markets. It's
more I would compare it more like maybe iPhone and
Android in a way, like you have more more like
you know, centralized in product focus approaching and more platform
and distribution focused approach. It's early days, but I yeah,
I would be really shocked looking to hear and they

(30:21):
want both extremely strong companies.

Speaker 1 (30:25):
Well, but they're going to be strong. Question is do
we an I p O from Polymarket? Do we get
obviously a token who knows what's going to happen there
with with timing, I think a lot wcelona.

Speaker 4 (30:37):
I think that would be uh watching.

Speaker 1 (30:40):
Mom there you go, Shane. If you're watching this right now,
you heard it from Vivu himself. So one other thing
we got to hit on a couple of other things
I want to jump onto is Salona Mobile. We've been
a big fan of the Seeker. We have them. That
was my opening video right there. However, there has been

(31:00):
some complaints, and most of the complaints we've seen have
come in from some of our audience that just weren't
able to get it, et cetera. What is Solana? What
can you tell us that where Solona is trying to
address some of those issues.

Speaker 4 (31:18):
So, just to be clear, the Salona Mobile team is
run out of Small Labs, which is not the foundation,
So I don't directly work on anything to do with
the phone. From what I've seen, I think there are
some regions of the role, like India, for example, where
shipping was more of a challenge, or maybe they weren't
shipping there.

Speaker 1 (31:36):
Okay, well labs, if you're listening, that was actually our problem.
We had multiple phones.

Speaker 4 (31:40):
That we can introduce you to them if you'd like.

Speaker 1 (31:42):
Yeah, we had multiple phones that came to our studio,
but some of them did not arrive and trying to
get them delivered to our studio. We're in America, We're
not in India. We're in Miami, so that that was
an issue.

Speaker 4 (31:57):
And of course you didn't get your phones.

Speaker 1 (31:59):
Yeah, well it was one of our key researchers which
didn't get his phone, so it was kind of like,
oh gosh, that's not a good look. One last one,
last point I wanted to hit on was the gaming
side of things, because obviously we've been reporting heavily on Swee.
Swee of course, has has built a very solid, what
appears to be a very solid integration into gaming. What

(32:23):
would you say is Solana's gaming position right now in
terms of overall strategy.

Speaker 4 (32:29):
Here a foundation of a dedicated gaming team, you can
also check out Solana gaming on Twitter. I mean, there
are a lot of interesting games. I would say, Like
for me, it's not something I work on every day.
I think Sweet has been you know driving definitely like
you know, a driving force there. I think about games,
or we think about games maybe a little differently, Like
I think there's a lot of interesting stuff generally in

(32:52):
the kind of like dot fun economy that have game
like mechanics, things like rush trade is something to check
out where you have like reading products or things like
addicted dot fund or today spots dot Fun Launch. Like,
there's a lot of interesting game like trading experiences that
are originating on Salon because of the depth of assets
that we have on chain. But maybe like the more

(33:13):
like Triple A visual types of things, you know. I
think swee As definitely like stood out on that side personally,
not not the catagorm super interested in.

Speaker 1 (33:22):
But what would you say, is the is the best
game on Solana right now?

Speaker 4 (33:28):
The best game on Solana. It's a good question. I
can't answer that because I've never really played one. To
be honest with you, we have a we do have
something cool. One thing I would point out is play
Solana there's a there's a cool uh kind of like
we have like a game Boy type of thing. Mine
hasn't shipped yet, but those started shipping to customers and

(33:49):
they have a whole library of stuff there. But I
haven't played a video game in forever, man Like, it's
just not what they really do.

Speaker 1 (33:55):
There's a lot of gamers out there, vi boos, so
it's and I think web three is going to be
a you know, a supercharge sector of this. Obviously, we've
had Yatsu from Animoca Brands on many times, who of
course has been all around uh, you know, the gaming
industry itself, so the opportunity is real. I hope that
we see more expansion within the Salona ecosystem for games.

Speaker 4 (34:17):
For sure, there is a lot of stuff happening with
the games. I'm just personally not aware of it because
I don't really work on that category.

Speaker 1 (34:22):
So yeah, no, I understand, I understand. I want to
want to get funded well, and in reality, you could
probably say pumped up fund is probably the best gaming
ecosystem because in my you know, the way it's being utilized,
so in a way, it's been a social and cultural game. Okay,
that's pretty much kind of the wrap up here when
you look at Soul where it is right now, could

(34:44):
you give us a price prediction?

Speaker 4 (34:48):
All of crypto has been kind of you know in
this like more depression. Uh. You know, at least the
timeline is like in shambles all the time. But you know,
like end of the year. I mean, who knows, like
every like the our market forces way beyond you were
my purview today, Like it's it's not a market I
really enjoy trading in. I'd just rather focus on holding stuff.

Speaker 1 (35:08):
I like when you say end of year and market
forces in the same sentence, that tells me maybe maybe
there's something looming here. Of course, everybody else is kind
of saying this. Matt Hogan was talking about this just today.
He said that he thought that institutional is going to
kind of sidestep this and push to the end of
the year.

Speaker 4 (35:27):
So there's so much going on, like it's hard not
to believe that, Like this year has like been a
year of where dreams have been made in our industry,
like we you know what I mean, Like uh, and
so you know, I think from just looking at Solana,
like this year on you know, I think application revenues
on track for like five billion dollars a year on

(35:48):
Salon itself. I think our rav is somewhere between two
and three billion dollars at the network level. These are
all like, these are things that we dreamed of years
ago and they're happening. Yeah, you know, the price you
know is going to be is going to do its
own thing. It's got there's all kinds of stuff. You know.
This week is so interesting because we had this, like

(36:09):
we had six seven days of like net inflows into
the Saloon ETFs. It's like, yeah, you know, it's like
it's really hard to predict. I think the best thing
we can do is just keep building fundamental value of
the network and making sure that people love using it
and that there's great products and everything else will take
care of itself at least in the long run.

Speaker 1 (36:29):
Vibo, it's been good having you on man. I appreciate
you coming on the show. Thank you so much. We're
going to keep a close eye on what's happening with Solana,
and I want to get my Seeker. So anybody that's
listening watching this show right now, one of our guys
needs you Seeker. And we got to get over to
Breakpoint and cover a lot because I see so many
new products are I'm going to try, because there's so

(36:53):
many great new projects that usually get launched there, and
that is a great time for us to get in
front of the salon a community.

Speaker 4 (37:01):
For sure, you should come. This is the year to come.
It's gonna be a blast, and like, all right, from
what I know, it's gonna be ah, it's gonna you're
gonna have a blast, honestly.

Speaker 1 (37:10):
Yeah, okay, well that's what we'd like to help. Thank
you Vibo again, thanks again for stopping in today. We
appreciate it.

Speaker 4 (37:18):
Thank you Paul.

Speaker 1 (37:19):
All Right, you guys you know what to do. Make
sure and like and subscribe. Also, if you're not in
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All you have to do is hit the link down below,
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