This week's ownership coins briefing covers Laso Finance taking the #2 spot on x402, Sanctum's decision market to distribute CLOUD, Rip Cars request for capital ahead of its launch, Umbra's V2 architecture, a new fund that buys only ownership coins, Spark winding up two IdeaCoins, 01Resolved's new timestamped snapshots, and updates from Jurassic Finance, Ordr, Avici, P2P, and Credible Finance.

Ownership Coin Market Snapshot

  • Total Ownership Coin Market Cap: $142M
  • Total Ownership Coin Treasury Value: $34M

Ownership coin financials, decision market and token data sourced from 01Resolved.

Key Takeaways

  • Laso Finance is the #2 app on x402 by volume, with ~$79K over 30 days, all of it from AI agents.
  • Sanctum's decision market approved a final 15M CLOUD payout as it ends staking permanently.
  • Owned Fund launched on Ride Markets, buying only MetaDAO and Futardio ownership coins.
  • Rip Cars seeks access to $50K of treasury funds as it nears launch.
  • Jurassic Finance brings the Deaton raise to Solana on August 17.
  • 01Resolved shipped timestamped snapshots for the category, a project, or a decision market.
  • Credible marked $1B in payment volume, up from the $611M two weeks ago.
  • Umbra V2 rebuilds the protocol as a multi-asset shielded pool with a node network.

Laso Finance Is the #2 App on x402, and All of It Is Agents

Laso Finance lets anyone fund a prepaid card, a gift card or a bank transfer straight from a crypto wallet without uploading ID at signup, operating under FinCEN's Prepaid Access Final Rule. It raised on MetaDAO's curated launchpad in July and has done more than $20M in volume to date. This week it became the #2 service by volume on x402, a protocol agents use to pay for services per call. Currently, x402scan puts Laso at ~$79K across 101 transactions from 40 buyers over 30 days, behind BlockRun at ~$159K, but the project plans to go for the top spot by the end of the month. 

Laso asks for so little at signup that an agent can get a card of its own, no human required. Volume from either humans or agents pushes Laso further down the issuing stack, cutting out middlemen and winning better terms from issuers, which comes back as lower fees for both.

Laso's financials on 01Resolved show $986K in total NAV against a $50K monthly spending limit, ~15 to ~20 months of runway, and LASO trading at an estimated ~38% premium to NAV (AS).

Rip Cars Asks the Market to Unlock $50K for Launch

Rip Cars, the project bringing Hot Wheels gacha onchain, opened its first decision market today, asking traders to approve unlocking $50K from the treasury on top of its monthly spending allowance, for the platform's launch. The project raised $250K on MetaDAO three weeks ago and says it has around $10K left of its August allowance.

The $50K will be used to fund Hot Wheels inventory, an office deposit and prepayment, design work and accounting. The novel gacha platform currently has ~500 owners with ~900 users waitlisted for launch.

The decision market is currently trading in the Pre-TWAP window with ~$63 in volume against a -3% pass threshold.

Analyze conviction on 01Resolved and trade the decision market on MetaDAO.

Sanctum's Decision Market Approves a Final 15M CLOUD Payout

Sanctum, the Solana liquid staking protocol behind Infinity, approved a final payout for stakers through a decision market as it sunsets CLOUD staking and Active Staking Rewards. The proposal passed by ~5% against a 1% pass threshold on $501K of volume across 280 trades from 92 unique wallets. Volume was split nearly even with ~51% pass-aligned against ~49% fail-aligned. A single pass-buy trade of $165K accounted for a third of the market’s volume.

The approval will now send 15M CLOUD from the Community Reserve to stakers pro-rata by Staking Score, covering the eleven months since the last distribution closed last year. That works out to about 0.23 CLOUD for every CLOUD staked, roughly 25% annualised.

Sanctum is not a MetaDAO-launched ownership coin, but has implemented decision markets as a governance tool, alongside Drift, Jito, and ORE.

Umbra Rebuilds Itself as a Network in V2

Umbra announced V2, a full rebuild arriving in Q4 that repositions it from a privacy app into what it calls a sovereign private money system. Privacy has always come at a price, with the better tools too slow, too costly or too close to a legal grey zone, but with V2, Umbra plans to remove that trade off. 

In V1 an asset was only as private as the amount of it deposited. In V2 every token shares a single anonymity set, so the smallest asset gets the privacy of the whole network and every new user strengthens it for everyone, while transfers and swaps run 10x to 15x faster.

Compliance runs through a network of independent nodes inside secure hardware enclaves, and an onchain escape hatch guarantees a user can always withdraw no matter what happens to the rest of the network.

For holders, UMBRA moves into the economic engine at the network layer rather than sitting only at the application layer. Owning it already meant owning the IP, the treasury and the product suite, and Umbra says it will now mean owning the V2 network as well. Umbra's financials on 01Resolved show $2.3M in total NAV against a $100K monthly spending limit, ~17 to ~23 months of runway, and UMBRA trading at an estimated ~2% discount to NAV (AS), down from a ~22% premium last week.

A Fund That Buys Only Ownership Coins Launches on Ride Markets

Owned Fund launched this week buying only ownership coins, using the 01Resolved index as the canonical list of what qualifies. It holds META, SOLO, CRED, CARS, AVICI, OMFG, P2P, UMBRA and RAWR against a treasury of ~$19.5K.

Owned Fund runs on Ride Markets, covered in May's Ownership Coin Monthly, where a caller proposes a trade and posts a bond, everyone else backs it yes or no with real money, and the market decides whether the fund places it. A call on Owned Fund costs 2.4M OWNED, around $89, and directs $1,500 of the fund into the chosen asset. The caller keeps half the profit and gets the tokens back if the trade works.

Trading and LP fees route to the treasury, and the token is a claim on it. So far the fund has traded $22.3K for a total loss of $288, or ~1.5%. How it eventually liquidates and pays holders out goes to a vote next month, and access is open to everyone for now, with plans to gate it through Fairscale later.

Spark Winds Down Two IdeaCoins and Pays Holders Out

Spark is a platform where anyone can post a startup idea. Each idea gets its own IdeaCoin, and the money spent buying that coin becomes a treasury which the coin's holders control through decision markets. The IdeaCoin is temporary by design. A market decides what the treasury spends, and when the idea has run its course, the same market decides to close it and hand back whatever is left. Two IdeaCoins were wound down and paid out this week.

PwePwe finished the roadmap it had raised for, so a final decision market voted to return the remaining treasury and liquidity. Every PWE holder is getting back 101% of what they put in, five weeks after putting it in.

Basket's holders had voted for a two-part plan back in July, spend $3K of the treasury buying into Basket's own Futardio raise, then close the IdeaCoin and return everything to holders. Both halves are now done. The $3K came back as ~2.1M BASKET, and that plus the ~$18K USDC left in the treasury is being distributed, so holders end up owning the real ownership coin rather than the placeholder that funded it.

Basket's financials on 01Resolved show $10.3K in total NAV against a $1K monthly spending limit, ~8 to ~10 months of runway, and BASKET trading at an estimated ~19% premium to NAV (AS), having flipped from a discount over the week.

01Resolved Ships Timestamped Snapshots

01Resolved released snapshots, timestamped graphics for the top ten ownership coins by market cap, any individual project, or any decision market, generated from the platform and copied straight into X or Telegram.

The decision market card captures live markets as well as resolved ones, which makes it a way to rally support while there is still time to trade rather than a record of something already decided. The other two are for context, comparing the largest coins on NAV (AS), premium or discount and return since ICO, or pulling a single project's financials, token and governance metrics into one view to onboard a new owner.

Other ownership coin updates