Cardboard Trade is a new Solana trading app offering up to 1,000× leverage on BTC, ETH and SOL, with USDC collateral and positions trading against a shared house pool. From October 15 through now, 1,035 wallets opened 51,899 positions representing $4.48 billion in leveraged opening notional. that activity generated $322,617 in trading fees on @cardboard_trade. $161,309 allocated to the protocol, with the other half funding staking rewards and referral bonuses. Median leverage was 150×, highlighting how leverage contributes to the reported volume. Some activity looks consistent with reward farming: 121 wallets opened 4,633 matched long/short pairs generating $748 million in opening notional, with fully settled pairs closing their two legs a median of three seconds apart. These offsetting positions reduce directional exposure while the losing leg can earn CARDBOARD rewards; they represented 56.1% of October 19 opening notional through the cutoff, although the pattern alone does not prove farming intent.

Mixed quarter for @JupiterExchange.

Good Q3 for @orca_so nominally, but the DEX lost market share. It'll be interesting to see how the @Loopscale merger plays out in Q4.

solana:739dnZEG4yaBWFsY8L8ZwrfhGG6dhtCSercW8Umspump has run roughly 5xed since @clawpumptech's AnsemHack hackathon kicked off on Aug 18, from about $0.0033 to $0.0174. Over the same stretch, the platform’s revenue grew about sixfold. ClawPump keeps 25% of the creator fees on every agent token it launches. On that basis, revenue went from about $530 a day in July and early August to about $3.2K a day during the hackathon (Aug 18–Oct 8). That’s roughly $167K over seven weeks, against about $260K since mid-March. The momentum hasn’t faded since the hackathon ended. The past week came in at about $4.5K a day ($31.6K total), the best run yet. Fees are also concentrating in a few tokens: solana:8nnaeWCw8mUypcGAgbmSuzAT85uWx4UN12adDrMhXrGF alone generated $9K, about 28% of the week.

how @Collector_Crypt Q3 looked.

Seems like a good time to lighten up on solana:4k3Dyjzvzp8eMZWUXbBCjEvwSkkk59S5iCNLY3QrkX6R. Price has outpaced usage of the platform.

This quarter marked a shift in the composition of @kamino's loan book from crypto-native assets toward RWAs.

Not too bad of a call.

The solana:8nnaeWCw8mUypcGAgbmSuzAT85uWx4UN12adDrMhXrGF / agentic trading opportunity.

Big quarter for @Raydium and solana:4k3Dyjzvzp8eMZWUXbBCjEvwSkkk59S5iCNLY3QrkX6R.