Logan Jastremski

Logan Jastremski × Armani Ferrante

Backpack pairs each freely transferable Solana token with a one-to-one real share, enabling arbitrage between Nasdaq or NYSE and on-chain markets.Ferrante says this produces “40X, 45X” better pricing than comparable Robinhood Chain stocks.Backpack sacrificed $100 million to $200 million in foregone profit for a unified regulated layer that could replace idle cash and delayed settlement, but still has “a lot to prove” against incumbents within one or two years.

Logan Jastremski × Tarun Chitra

Crypto’s investable edge is shifting from protocol tokens toward wallets, order flow, and execution as the sector becomes “TradFi plus.”Stablecoins rising from roughly $300 billion to $1 trillion could drive more than 3x lending and trading growth, while Hyperliquid offers clearer accrual.Agent-directed retail flow at 20-30% of volume could reshape market timing, with wrapper economics and compute settlement still unresolved.

Jason Yanowitz × Santiago Roel Santos × Logan Jastremski

Logan Jastremski revises the Frictionless thesis: value L1s like exchanges through volume and take rate, since throughput without execution produces no revenue.Solana’s $2.5B daily volume signals exchange-scale TAM, while Hyperliquid’s product and commodities traction, decentralization question, and unresolved perps execution remain key watchpoints.

Logan Jastremski × Evan Cheng

Evan Cheng argues blockchain adoption remains on the flat part of the curve, with AI making trustworthy verification scarcer as intelligence becomes abundant.Sui is building an integrated stack spanning asset settlement, Walrus storage, Seal privacy, and DeepBook liquidity, after sustained loads exposed storage bottlenecks.The 2026 roadmap targets product infrastructure for stablecoins, Bitcoin, private payments, and AI-enabled applications, while the broader strategy could be too grandiose or too early.

Logan Jastremski × Max Resnick

Constellation proposes a decentralized Nasdaq for Solana, using multiple proposers and localized ingestion instead of co-locating its 800 validators.Its protocol-enforced 50-ms economic tick could support on-chain securities markets worth far more than crypto today, while revenue design and conditional regulation remain key constraints.