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The last few days and weeks were extremely painful. No matter how strong your position is, the market is going to humble you. Seeing major pairs on LONG taking a massive hit is very painful to me. We don’t have the luxury to pivot to new assets or metas because the point we’re trying to prove is simple: Truly fair launches are possible, and the highest upside would come from holding rather than rotating when holding also means you're bootstrapping a new stock token markets. Pain is important. It means we truly care about this mission. It sharpens us and forces us to change things. It also means we simply care more than any other platform about our top communities. But LONG takes a vision and product first approach. We won’t let the pain consume us. We are not going to just obsess with the charts. We can execute and shape reality. And We will never give up. I see LONG and myself as the final line of defense. And we will keep stepping in tactically and strategically to ensure the survival of the eco as a whole. Some hopium: - We’ve shifted major focus to our mobile app development. IMO, we miscalculated macro and needed to do it 2 to 4 weeks ago. - We’ve onboarded a new team member, a world class consumer app leader who delivered a top 10 consumer app on the App Store. - In terms of asset health, taking AI as an example here, almost every single bad thing that could have happened over the last few weeks took place. Every other asset would have died 100 times. At the end of the day: 1. During these bad times, we see how our deep liquidity design helps absorb volatility. 2. AI and other pairs have major reserves in community vaults. 400k just in the vault is typically what you would see in an asset 3x bigger that was also bundled. 3. Stock pairs are still the most novel and high upside opportunity the space has had in many years. - RH is still an incredible chain that offers higher quality assets and has provided opportunities to many people. More stocks and higher TVL are coming, and LONG will be a main beneficiary/facilitator of this as we also build our own distribution to make sure we become a force that makes RH better and aren’t just reliant on it. I’m confident focusing on how we bring the masses to LONG via the app will bring 1000x the impact. Bigger than everything else we did. It’s also going to be the hardest and most focused effort we’ve had so far, but the reward will follow. Longfolio.

alignment with public companies via stock pairs is still extremely underrated. At some point, the most sensible thing for public companies will be to distribute stocks directly to holders via tokenization. One of the biggest metas we had with crypto-native airdrops was the idea that you could target blue-chip holders: Pudgy, Punks, ETH OGs, and later through Kaito’s InfoFi. HODLing stock pairs on LONG is the cleanest way to signal alignment with the stock. For public companies, there are a few angles here: 1. You can’t find a better ROI on marketing spend than handing out stocks. Even something like $10m to a highly legit group of holders who can coordinate and amplify bullish sentiment. 2. Tokenized stocks create a sink for that cost. Minting $10m worth of stocks will necessarily capture some portion in liquidity pools. So even if holders sell back a big portion of the drop, the net mint can easily be 50% of the initial amount, without including the pairs that holders might reinvest in. 3. This can help companies have high circulating supply at IPO while improving absorption of sell pressure. The holy grail for pre-IPO companies struggling to figure out their “TGE tokenomics.” There are already precedents for this sort of thing, with Robinhood offering OpenAI shares and drops for users. We are very early in a new alchemy of finance. LONG.