Quick update on where we're taking Loadout. We start launching again next week, and we're making some big changes. First, something we should have seen coming. We spent months building hype, then funneled all that attention into a single daily launch. Every trader, every sniper, everyone waiting for the next project ended up in the same place. We underestimated what that would do. That's on us. We're now upgrading the platform to support thousands of launches per week, with two launch flows. The first is the curated studios we've been talking to for the past nine months. Teams that have spent years building their games. These are our anchor projects. The second is where I think things get really interesting: the new wave of viral games being built with AI. Our BD team has already identified 600+ of these games, and developers are already committing to launch on Loadout. Many are solo devs pulling huge attention with something they built themselves. But there's a gap between going viral and getting a game onto Steam. You can have millions of people watching your clips while you're still figuring out how to fund the next six months of development. Loadout can bridge that gap. For developers, it's a way to turn attention into funding, build a community around their game, and come back with their next one. For traders, it's a chance to find a game early that becomes a massive success. That volume also spreads attention across more launches, making it harder for snipers to focus on a single daily target. But we're also getting much stricter about who we launch. Teams need to align with our community and understand that the relationship continues after they raise money. Some are already willing to commit Steam revenue to buybacks alongside their token buybacks. That's where it gets really interesting. A game succeeds, revenue feeds back into its token, and the community that backed it early has a reason to stay involved. The opportunity here is insane, and the number of developers we can work with will only grow. I'm convinced this will be the new gaming meta. We're going all in on games, and I intend to make Loadout the launchpad that gives them more attention than any other. Back to launches next week.

I want to address concerns about insiders holding 50% of the solana:8sWe4GzK1YqG3vyzKHf8ZyB1WB5asofw2o6TqgFePtPo supply. 30% went into the bonding curve. Investor tokens (3.1%) will gradually unlock over six months. Another 165M team and investor tokens are locked until October 2027. The treasury will remain available to provide liquidity, support exchange listings, and fund the project's growth. The other allocations will remain untouched until their scheduled unlocks or vesting. We're adding additional locks over the coming days to make this clear and verifiable. We'll lock the 25% trading rewards allocation until vesting starts. We're finalising the treasury split so we keep the tokens needed for upcoming uses available and lock the rest, with unlock dates aligned to our plans. We hold the 502M treasury tokens (51.7%) in our Squads treasury. RugCheck shows that balance as a single holder and doesn't recognise our existing vesting program, which makes the holder breakdown easy to misinterpret. Its holder list also still shows a wallet with 79.8M tokens (8.2%) as the second-largest holder. That wallet now holds zero. We're asking RugCheck to label the vesting vaults, verify the token, and refresh its holder list. We'll put the additional treasury locks through a Squads proposal. We'll publish the lock amounts, dates, and addresses once they're in place so everyone can check for themselves.