# Sam Ratnakar: the full site, in plain text

Generated 2026-07-12 from the live build of samratnakar.com (an interactive macOS-style desktop that needs JavaScript). This file is the complete text of every app on the site plus every receipt link, so agents and crawlers can read the whole thing in one fetch. The short version lives at https://samratnakar.com/llms.txt. Every claim below is receipted: the links after each section point to on-chain proposals, public posts, press, and primary documents.

## The desktop (front door)

MoarMarket Programmable leveraged liquidity Case study → PEAK TVL $7.5M Jan 2026 20% of Aptos’ stable concentrated liquidity
MoarMarket
Hubble Exchange
Sequencing MAKING MUSIC
Flying LOGGING HOURS
Cycling AROUND CITIES
Side Projects WHAT I BUILD
Writing ESSAYS & NOTES
✈ BOARDING PASS YUL ✈ ✦ Travels WHERE I'VE BEEN
Résumé
Messages 18
hey, i'm sam 4:44 PM i'm an operator.
hey, i'm sam
i'm an operator.
most recently i led product on MoarMarket, a leveraged liquidity and programmable strategies protocol. we scaled it to $7.5M TVL and $60M+ in borrow volume, shipped 15+ features, and ran it 18 months on mainnet without a single exploit. dig into the full case study →
before that i was the fifth person at Hubble Exchange (Backed by Framework Ventures, GSR & Lemniscap), a perps DEX building something genuinely trustless and decentralized in a post-FTX world. i helped secure millions in liquidity, ran the launch & marketing, and grew it from zero to hundreds of traders.
and at 17 i started MintFlint, a social trading platform that plugged into Binance & Coinbase.
that's the short version. full résumé → email →
Notes
Sun 8:58 PM
Today
July 12, 2026 at 4:44 PM

Links and receipts:
- email →: mailto:samdotratnakar@gmail.com

## Resume

View
Insert
Table
Chart
Text
Shape
Media
Share
Format
Document
Strategy, BD, and partnerships operator with 5+ years in DeFi. Closed every service-provider and liquidity deal for a perpetuals exchange backed by Framework Ventures, won one of the largest grants the Aptos Foundation gave a native DeFi protocol, and took two protocols through their full lifecycle to clean wind-downs that returned all user funds safely.
Won one of the largest grants the Aptos Foundation gave a native DeFi protocol, plus $1.5M in liquidity to bootstrap pools.
Co-architected the protocol and established leveraged concentrated liquidity as a primitive on Aptos, growing it to 20% of the chain’s stable concentrated liquidity; developed the ecosystem relationships (Hyperion, Panora, Tapp, Kofi) that positioned Moar as the leverage layer complementing other Aptos protocols.
Scaled $0 → $7.5M TVL and 350 active positions; designed three revenue streams across lending, leverage, and strategies.
Drove the roadmap purely from on-chain data and direct power-user relationships, shipping 15+ features (auto-rebalancing & compounding, dual collateral, LP analytics, SDK) that each improved measured user outcomes.
Co-founded and led the 3-engineer team that regrouped from Hubble across the full lifecycle, 18 months on mainnet with zero exploits, then wound it down cleanly and returned every dollar of user funds safely.
As the fifth team member, sourced and closed every service-provider deal the exchange needed: market makers, validators, oracle, omnichain bridge, block explorer, node manager, and auditors.
Secured the $5M in liquidity required before trading could open: structured the 5x liquidity-partner program (partners committed liquidity at 5x their investment, forfeiture written into the terms) and onboarded GSR, Finlink, Lemniscap and others; for the V2 launch, a $1.5M line-of-credit commitment from the Avalanche Foundation.
Built and led a 5-person marketing team (illustrators, animators, designers), owning brand, content and social; ran launch and growth campaigns including competitor-conquest outreach and a $50k trading-competition ladder.
Authored more than two dozen on-chain governance proposals that ran company operations (entity formation, treasury and multisig, hiring and payroll, onboarding, audits, wind-down); worked with legal counsel on compliance and agreements. See the proposals →
Grew the exchange to $150M+ trading volume; backed by Framework Ventures, GSR, and Lemniscap, with angels including Aave founder Stani Kulechov ($3.3M).
Founded a social trade-sharing platform (integrated with Binance & Coinbase) at 17, in my first year of university.
Raised angel funding from notable investors including JD Kanani (ex-Polygon CEO), and secured a launch partnership with Polygon.
Grew to hundreds of traders and $6M in tracked assets.
18 months on mainnet, zero exploits, all user funds returned safely, a record of catching issues early and resolving them cleanly. Open the incident log →
7-figure liquidation event (Oct 10), a sharp move liquidated a wave of positions; the ~$2.7k of bad debt it left was covered by liquidation fees, with lenders made whole within 24 hours and no depositor losses.
Aptos loader-limit (platform), a hard Aptos dependency-size limit that Moar’s deep-integration footprint outgrew (not a bug or exploit); coordinated with the Aptos core team and restored service.
Upstream Panora bug, traced an excessive-slippage issue to a third party; 33 transactions, all users refunded.
Reward mis-distribution, made all 8 affected users whole, with on-chain proof.
Pre-emptive security, shipped protocol-wide rate limits against exploit attempts before anything happened.
Résumé
Zoom
Sam Ratnakar
samdotratnakar@gmail.com · Montréal
Experience
MoarMarket
May 2024 to Apr 2026
Co-founder & Product Lead · Leveraged programmable liquidity
Hubble Exchange
Sep 2021 to Apr 2024
Head of Marketing & Ops · Perpetuals DEX · Avalanche
MintFlint
Feb 2018 to Mar 2020 · at 17
Founder · Social trade-sharing platform
Operations & incident response
Beyond work
Flying
Earning my private pilot license.
Cycling
Long rides around the city.
Sequencing
Making electronic music.
Travel
Exploring new cities.
Writing →
Live demo →
Download PDF →
⌃⌄
106% ⌄
487 words ⌃⌄

Links and receipts:
- Writing →: http://localhost:8823/writing.html
- Live demo →: http://localhost:8823/moar-demo/
- Download PDF →: http://localhost:8823/Sam-Ratnakar-Resume.pdf

## MoarMarket case study

1M
3M
6M
1Y
ALL
20 Features ›
7 Incidents ›
Exploits incident log › 0
Live demo › Try it
The record
I operated and led the team that regrouped from Hubble, backed by the Aptos Foundation’s DeFi Fund with one of its largest grants to a native DeFi protocol. Leverage on Aptos, then a programmable strategies builder layered on top of it, abstracting the tooling and automation strategists kept rebuilding into one shared system. Roughly monthly shipping across 18 months on mainnet to a $7.5M peak, contributing about 20% of the stable concentrated liquidity on Aptos, with zero exploits, every incident resolved, and all user funds returned safely.
20 releases ›
7 incidents, 0 exploits ›
Liquidity-Flow Terminal
A real-time Sankey I built to watch Moar’s liquidity live: how much it feeds each pool, and what share of each pool is Moar. It’s how I kept an eye on the 20% above.
Moar Agent
An internal LLM analyst with tools over Moar data: PnL breakdowns, rebalance history, borrow and repay events. We used it to review positions and configuration trade-offs, then opened it to users in a limited way. Below, a real session.
Replay
Stocks
Moar Market
TVL · Aptos · 18 months on mainnet
$7,507,201
▲ $6.14M (+451.5%)
Apr ’25
Jun ’25
Aug ’25
Oct ’25
Dec ’25
Peak TVL
$7.5M
Borrow Vol
$60M+
Active Positions ATH
350
On mainnet
18 months
Integrated across Aptos
Hyperion
CLMM DEX
Thala
DEX & stablecoin
Panora
DEX aggregator
Tapp
DEX
Kofi
Liquid staking
Operator Tooling
Announcement on X ↗
AI Tooling
a real session · interface recreated
Hello! I’m the Moar Strategy Agent. I can help diagnose PnL issues, analyze rebalance events, and check pool prices on Aptos.
whats the main reason behind the losses made by this CA - 0x9613…b065b
or click any marker ↗

Links and receipts:
- Announcement on X ↗: https://x.com/mrdotboson/status/2010066892556496940

## MoarMarket: features shipped

1M
3M
6M
1Y
ALL
20 Features ›
7 Incidents ›
Exploits incident log › 0
Live demo › Try it
The record
I operated and led the team that regrouped from Hubble, backed by the Aptos Foundation’s DeFi Fund with one of its largest grants to a native DeFi protocol. Leverage on Aptos, then a programmable strategies builder layered on top of it, abstracting the tooling and automation strategists kept rebuilding into one shared system. Roughly monthly shipping across 18 months on mainnet to a $7.5M peak, contributing about 20% of the stable concentrated liquidity on Aptos, with zero exploits, every incident resolved, and all user funds returned safely.
20 releases ›
7 incidents, 0 exploits ›
Liquidity-Flow Terminal
A real-time Sankey I built to watch Moar’s liquidity live: how much it feeds each pool, and what share of each pool is Moar. It’s how I kept an eye on the 20% above.
Moar Agent
An internal LLM analyst with tools over Moar data: PnL breakdowns, rebalance history, borrow and repay events. We used it to review positions and configuration trade-offs, then opened it to users in a limited way. Below, a real session.
Replay
Features
Incidents
LEVERAGE May 12, 2025 Margin Trading Live ✓ Shipped
LEVERAGE May 26, 2025 Leveraged Liquidity ✓ Shipped
UX May 29, 2025 Claim Rewards ✓ Shipped
UX Jun 17, 2025 Range Awareness + Quick Select ✓ Shipped
COLLATERAL Jun 19, 2025 Dual Collateral + Farming ✓ Shipped
PLATFORM Jul 2025 Developer SDK ✓ Shipped
UX Jul 10, 2025 Rebalance Button ✓ Shipped
RISK Jul 21, 2025 Liquidation Alerts ✓ Shipped
RISK Jul 28, 2025 Manage Debt ✓ Shipped
COLLATERAL Jul 29, 2025 Swap Collateral ✓ Shipped
POSITIONS Aug 18, 2025 Multiple Positions ✓ Shipped
TOOLING Aug 21, 2025 Leverage LP Simulator ✓ Shipped
ANALYTICS Aug 28, 2025 PnL Tracking ✓ Shipped
RISK Sep 11, 2025 Liquidation Prices ✓ Shipped
POSITIONS Sep 15, 2025 Single-Token Exit ✓ Shipped
RISK Sep 24, 2025 Custom Debt-Mix Slider ✓ Shipped
AUTOMATION Dec 5, 2025 Auto-Rebalance ✓ Shipped
ANALYTICS Dec 7, 2025 LP Analytics ✓ Shipped
AUTOMATION Dec 9, 2025 Stability Gate for Auto-Rebalance ✓ Shipped
MILESTONE Jan 23, 2026 Peak, $7.5M TVL ✓ Shipped
Stocks
Moar Market
TVL · Aptos · 18 months on mainnet
$7,507,201
▲ $6.14M (+451.5%)
Apr ’25
Jun ’25
Aug ’25
Oct ’25
Dec ’25
Peak TVL
$7.5M
Borrow Vol
$60M+
Active Positions ATH
350
On mainnet
18 months
Integrated across Aptos
Hyperion
CLMM DEX
Thala
DEX & stablecoin
Panora
DEX aggregator
Tapp
DEX
Kofi
Liquid staking
Operator Tooling
Announcement on X ↗
AI Tooling
a real session · interface recreated
Hello! I’m the Moar Strategy Agent. I can help diagnose PnL issues, analyze rebalance events, and check pool prices on Aptos.
whats the main reason behind the losses made by this CA - 0x9613…b065b
20 releases · 18 months on mainnet · 0 exploits
or click any marker ↗

Links and receipts:
- Announcement on X ↗: https://x.com/mrdotboson/status/2010066892556496940

## MoarMarket: incident log

1M
3M
6M
1Y
ALL
20 Features ›
7 Incidents ›
Exploits incident log › 0
Live demo › Try it
The record
I operated and led the team that regrouped from Hubble, backed by the Aptos Foundation’s DeFi Fund with one of its largest grants to a native DeFi protocol. Leverage on Aptos, then a programmable strategies builder layered on top of it, abstracting the tooling and automation strategists kept rebuilding into one shared system. Roughly monthly shipping across 18 months on mainnet to a $7.5M peak, contributing about 20% of the stable concentrated liquidity on Aptos, with zero exploits, every incident resolved, and all user funds returned safely.
20 releases ›
7 incidents, 0 exploits ›
Liquidity-Flow Terminal
A real-time Sankey I built to watch Moar’s liquidity live: how much it feeds each pool, and what share of each pool is Moar. It’s how I kept an eye on the 20% above.
Moar Agent
An internal LLM analyst with tools over Moar data: PnL breakdowns, rebalance history, borrow and repay events. We used it to review positions and configuration trade-offs, then opened it to users in a limited way. Below, a real session.
Replay
Features
Incidents
ERROR Jun 5, 2025 Large-position open failures ✓ Resolved
DEPENDENCY Jul 7, 2025 Excessive-slippage bug ✓ Resolved
DEPENDENCY Aug 5, 2025 Upstream API disruption ✓ Resolved
DEPENDENCY Aug 21, 2025 Loader dependency-limit hit ✓ Resolved
SECURITY Sep 8, 2025 Pre-emptive exploit hardening ✓ Resolved
EVENT Oct 10, 2025 Seven-figure liquidation event cleared ✓ Clean
ERROR Oct 21, 2025 Missed reward distribution ✓ Resolved
Stocks
Moar Market
TVL · Aptos · 18 months on mainnet
$7,507,201
▲ $6.14M (+451.5%)
Apr ’25
Jun ’25
Aug ’25
Oct ’25
Dec ’25
Peak TVL
$7.5M
Borrow Vol
$60M+
Active Positions ATH
350
On mainnet
18 months
Integrated across Aptos
Hyperion
CLMM DEX
Thala
DEX & stablecoin
Panora
DEX aggregator
Tapp
DEX
Kofi
Liquid staking
Operator Tooling
Announcement on X ↗
AI Tooling
a real session · interface recreated
Hello! I’m the Moar Strategy Agent. I can help diagnose PnL issues, analyze rebalance events, and check pool prices on Aptos.
whats the main reason behind the losses made by this CA - 0x9613…b065b
18 months on mainnet · 0 exploits · all user funds returned safely
or click any marker ↗

Links and receipts:
- Announcement on X ↗: https://x.com/mrdotboson/status/2010066892556496940

## Hubble Exchange, the journal (2021 to 2024)

MoarMarket Programmable leveraged liquidity Case study → PEAK TVL $7.5M Jan 2026 20% of Aptos’ stable concentrated liquidity
MoarMarket
Hubble Exchange
Sequencing MAKING MUSIC
Flying LOGGING HOURS
Cycling AROUND CITIES
Side Projects WHAT I BUILD
Writing ESSAYS & NOTES
✈ BOARDING PASS YUL ✈ ✦ Travels WHERE I'VE BEEN
Résumé
Messages 18
hey, i'm sam 4:44 PM i'm an operator.
hey, i'm sam
i'm an operator.
most recently i led product on MoarMarket, a leveraged liquidity and programmable strategies protocol. we scaled it to $7.5M TVL and $60M+ in borrow volume, shipped 15+ features, and ran it 18 months on mainnet without a single exploit. dig into the full case study →
before that i was the fifth person at Hubble Exchange (Backed by Framework Ventures, GSR & Lemniscap), a perps DEX building something genuinely trustless and decentralized in a post-FTX world. i helped secure millions in liquidity, ran the launch & marketing, and grew it from zero to hundreds of traders.
and at 17 i started MintFlint, a social trading platform that plugged into Binance & Coinbase.
that's the short version. full résumé → email →
Perps DEX · 2021 to 2024
I was the 5th team member. I ran the launch, built and led the 5-person marketing team, ran ops, and wrote the on-chain governance proposals.
Onboarding & Operating the DAO 7
Onboarding Liquidity Providers 9
Onboarding Infra Providers 12
See all 28 on-chain proposals →
Case studies (each opens as its own page):
Onboarding & Operating the DAO — https://samratnakar.com/hubble/dao
A governance base recruited with non-transferable NFTs, then a company actually run through it: payroll, audits, treasury, all by vote.
2 chapters · Oct 2021 to Aug 2022 → 2022 into 2023
Onboarding Liquidity Providers — https://samratnakar.com/hubble/liquidity
A $5M liquidity gate filled in a bear market: hard commitments at 5x with forfeiture in the terms, and incentives transparent enough to underwrite.
2 chapters · Aug 2022
Onboarding Infra Providers — https://samratnakar.com/hubble/infrastructure
An app-chain stood up like a company: proven under load, secured by a validator program, and contracted to named operators.
3 chapters · Jun 2023 → Late 2023
Providers & counterparties I onboarded · 20 firms
Joined as the 5th team member
ONBOARDING & OPERATING THE DAO · 2 CHAPTERS →
Recruiting a DAO
Community building doubled as governance onboarding. NFTs were claimed by early testers and contributors, carried voting power in the DAO, and were non-transferable, votes could not be bought or sold. The creative spoke the market’s native language of 2021, memes and NFTs.
The recruited base showed up on-chain: three months into the program, HP004 drew 663 votes with 56% of DAO members voting, a turnout record.
V1 mainnet launched on Avalanche
ONBOARDING LIQUIDITY PROVIDERS · 2 CHAPTERS →
Case study: filling the $5M liquidity gate
Trading opened behind a gate we called the Ignition Period: $5M of deposited liquidity before the first trade. I owned getting it filled, in the middle of the post-Luna bear. Part came from our Liquidity Provision Partners, whose cheques carried a hard commitment to provide liquidity at 5x their size; the rest came from the community, pulled in by marketing and an incentive ladder designed to make moving first the winning play.
The Ignition Period closed and trading opened fully seeded. The liquidity held: $41M+ in volume, $4.8M TVL and 17,133 trades in the first 50 days, through the worst of the bear.
Rolled out the launch incentive program
vHubble was a points system shipped before points became a meta, with the one property the meta later dropped: transparency. Each voucher was a token-convertible claim on an exact, published share of future ownership in the DAO. No mystery multiplier, no TBD conversion. You could do the math before you traded and know whether the program was EV-positive for you.
A year later the industry rebuilt this as points, minus the transparency. vHubble ran in August 2022 with it built in.
Made trading competitions the growth engine
Hosted The Derivatoors, a live interview show
Ran the DAO as an operating company
The app-chain pivot
ONBOARDING INFRA PROVIDERS · 3 CHAPTERS →
Proved the chain under load
Made the tech legible
Perps Fundamentals
Built the Validator Mining Program
Onboarded the oracle, block explorer and node manager
Retained JST as the designated market maker
Designed the gated launch: Passport and referral codes
The bridge campaign
Ran the pre-launch campaign
Hubblenet launched
Coordinated a launch-day banner takeover
Ran post-launch product marketing
19 million transactions and climbing
Meme marketing
The COQ-PERP meme campaign
Closing down, and on to the next
The MoarMarket case study →
Hubble
Sun 8:58 PM
Today
July 12, 2026 at 4:44 PM
Looking back
$150M+
5th
28
Case studies
Backed by
Running an app-chain meant contracting and managing the firms that secure it, feed it data, make its markets, audit it, and give it legal standing. The ones I brought in and signed:
App-chain validators
HP028 ↗
BENQI
Validator
Avalaunch
GoGoPool
Eden Network
Infrastructure
HP026 ↗
Chainstack
Node management
RedStone
Oracle feeds
Avascan
Block explorer
LayerZero
Omnichain bridging
Liquidity & markets
HP004 ↗
GSR
Liquidity provider & investor
Finlink
JST
Designated market maker
Investors & ecosystem
Framework Ventures
Lead investor
Avalanche
Ecosystem partner
Trader Joe
Lemniscap
Investor & liquidity partner
Security
HP024 ↗
Code4rena
Smart-contract audit
Dedaub
Sherlock
Audit + exploit coverage
Legal & advisory
HP022 ↗
CC
Cosmic Cactus
DAO signatory + holding entity
0x
Set 0x
Advisory & structuring
Sep 2021 · Joining
Sep 2021
OPERATIONS
Fifth person in. I owned go-to-market from day one, wrote Hubble's founding on-chain proposal (funded that December), and started building a community around a product that didn't exist yet.
HP001 · Funding Protocol Development ↗
The site goes live, tester signups open · ♥ 614 ↗
Oct 2021 to Aug 2022
Case study
The NFTs carried governance power · ♥ 111 ↗
56% turnout on HP004, a record · ♥ 55 ↗
2022 · V1 on Avalanche
Aug 2022
MILESTONE
V1 went live on Avalanche mainnet: vAMM-based perpetuals, fully on-chain, shipped into the post-Luna bear market, months before FTX collapsed. It shipped off a $3.3M strategic-partner raise with angels including Aave founder Stani Kulechov; I wrote the press release with Wachsman, the comms firm Framework brought in. The launch held despite the market: $41M+ in cumulative volume, $4.8M TVL and 17,133 trades in the first 50 days.
Live on mainnet · Ignition period · ♥ 362 ↗
DAO raises $3.3M · ♥ 132 ↗
The press release, written with Wachsman ↗
Decrypt: the $3.3M raise, led by Framework ↗
$5M
liquidity gate before trading could open
5x
liquidity vs cheque, per Liquidity Provision Partner
3 mo
minimum lock on partner liquidity
14 days
to deposit, or forfeit the allocation
Partners supplied the liquidity
Each Liquidity Provision Partner committed to deposit 5x its investment into a designated liquidity bucket for market making, in consideration of its allocation.
Wrote forfeiture into the terms
Deposits were locked for at least three months, with a 14-day window to fund. Under the terms of the proposal and the partner agreements, missing the window meant the allocation returned to the DAO and the agreement ended.
Made depositing early the dominant strategy
The community side ran on game theory. Liquidity-mining rewards paid a declining multiplier by deposit tranche: 2x on the first $1M in, stepping down 0.2x per million to 1x past $5M, with the pool capped at $10M. Trading opened at $5M or after 24 hours, whichever came first, so every hour of waiting carried a visible, quantified cost and the rational move was to deposit first.
Ran the fill
I ran diligence on each partner, drafted the agreements with counsel, worked the Transfer Period, and coordinated every deposit into the bucket, while the ladder and the marketing push brought in the community’s share.
HP004 · Strategic Partner Onboarding: the 5x liquidity commitment ↗
HP014 · vAMM seed + insurance fund + ops multisig to close the threshold ↗
MARKETING
The incentives ran on vHubble, token-convertible vouchers representing exact future ownership in the DAO. I proposed and marketed the program, explained in a thread series that ran all launch week, and we partnered with Outcome Finance, powered by UMA, to run the vHubble incentives as KPI Options. The Ignition multipliers paid in vHubble too, so the earliest liquidity earned up to 2x the future ownership.
Case study: the vHubble system
Month one · 0.6% of total token supply
Liquidity mining · 0.4%
Trading · 0.2%
0.4%
of supply to makers and LPs in the AVAX-PERP vAMM (4M vHubble)
0.2%
of supply in trading rewards (2M vHubble)
1,000 HSC
to top traders, makers and insurance-fund providers
The exchange rate was published upfront
A vHubble converted to a fixed share of future ownership, written into the proposal before the first voucher was earned. Farming it was an underwriting decision, not a leap of faith.
Users could price their own participation
Emissions and conversions were public numbers, so traders and LPs could compute expected value instead of trusting a roadmap. The pitch was never trust us; it was check the math.
Settlement ran on-chain as KPI Options
With Outcome Finance, powered by UMA, the incentives paid out as KPI Options, so even the reward mechanics were verifiable rather than a spreadsheet in someone’s drawer.
Every change to the deal was a vote
The program was proposed, extended and tuned in public (HP013, then HP017 and HP019), so the terms could never quietly change under participants.
HP013 · Month #1 incentives: the vHubble system ↗
HP017 · Extending vHubble and HSC Incentives ↗
HP019 · Adjusting Trading Rewards ↗
Launch eve: the vHubble thread collection · ♥ 305 ↗
What is vHubble? The traders edition · ♥ 234 ↗
What is vHubble? The Makers and LPs edition · ♥ 171 ↗
vHubble as KPI Options with Outcome (UMA) · ♥ 131 ↗
Feb to Oct 2022
Competitions carried the growth motion from testnet to mainnet: Andromeda, the final testnet, then the $50k SuperNova, then a month-long $50,000 mainnet competition with cumulative and weekly PnL pools. Conquest campaigns fed them: an airdrop invited all 430 traders liquidated on GMX Avalanche into the DAO with a claim portal, and an outreach program went after users of GMX, Perpetual Protocol and Gains Network.
HP011 · Airdrop to the 430 GMX-liquidated traders ↗
HP018 · $50k mainnet competition + competitor outreach ↗
Andromeda, the final testnet competition · ♥ 592 ↗
SuperNova: a $50k testnet competition · ♥ 611 ↗
The GMX airdrop goes claimable · ♥ 31 ↗
The $50k mainnet competition · ♥ 129 ↗
Aug to Oct 2022
I hosted The Derivatoors, Hubble’s own Twitter Spaces series interviewing other teams building derivatives: six episodes in two months. The show doubled as research: we got to see what other teams were building, how they were thinking about the same problems we had, and we built relationships with each of them.
EP1 · Arrow Markets ↗
EP2 · Robovault ↗
EP3 · Polynomial ↗
EP4 · Brahma ↗
EP5 · Arable Protocol ↗
EP6 · Aperture Finance ↗
2022 into 2023
Onboarding & Operating the DAO · 2 chapters →
I helped build and run the machinery a DAO needs to work like a company.
HP022 · Appoint Cosmic Cactus as the DAO signatory + holding entity ↗
HP006 · Universal Employment Framework ↗
HP007 · Initiate the Hubbleverse sub-DAO ↗
HP008 · Mod Guild stipends across 12 language communities ↗
HP021 · Initiate the Bounties Committee ↗
2023 · Building the app-chain
Jun 2023
The team set a new thesis: Hubble would move to its own app-chain, Hubblenet. I wrote the on-chain proposals that carried it through governance, the vote to wind down V1 and the allocation that locked in a Sherlock audit before V2 shipped.
HP024 · $75,800 to Sherlock for audit + coverage ↗
HP025 · Wind down V1 for Hubblenet ↗
The Hubblenet announcement thread · ♥ 378 ↗
Introducing Hubble: a Purpose-Built Chain for Perps ↗
Hubblenet’s incentivized testnet went public, and the decentralized order book held under real trading before any mainnet risk.
1,461
traders on the incentivized testnet
3.37M
orders through the on-chain matching engine
17,982
liquidations processed
1 week
for everything above
Week one: 1,461 traders, 3.37M orders matched · ♥ 30 ↗
Mid 2023
While the team built the chain, I ran an animated film series explaining Hubble’s design: the decentralized order book, multi-collateral margin, seamless deposits, and the modular private, just-in-time and gasless orders. Underneath, the order book and matching engine ran inside block production itself, the heavy margin math sat in stateful precompiles so gas stayed flat as markets and collaterals were added, and the design had a theoretical ceiling of 16,400+ transactions per second.
The decentralized order book ↗
Private, JIT and gasless orders ↗
Multi-collateral by design ↗
Seamless deposits ↗
A second film series taught perps trading itself, growing the pool of people who could actually use the product: reading an order book, how perps are priced, how liquidations work, and the insurance fund.
How to read an order book ↗
How perps are priced ↗
How liquidations work ↗
The insurance fund ↗
Late 2023
Onboarding Infra Providers · 3 chapters →
Hubblenet validators did more than secure the chain: order matching and liquidations ran inside block production itself. Recruiting and retaining them was an operating problem, and I built the program that solved it, then closed BENQI, Avalaunch, GoGoPool and Eden Network as the launch validator set. Each one got its own announcement film.
How the VMP worked
validation partners recruited and signed
0.0415%
of token supply funding the program
24 mo
vesting, 10% at TGE
12 mo
minimum validation commitment
Eden Network validates ↗
BENQI validates Hubblenet ↗
Avalaunch validates Hubblenet ↗
GoGoPool runs three nodes ↗
HP028 · Validator Mining Program: BENQI, Avalaunch, GoGoPool, Eden ↗
Eden Network validation ↗
Benqi to validate Hubblenet ↗
Avalaunch to validate Hubblenet ↗
GoGoPool validation ↗
Hubblenet was a new chain, so nothing came ready-made: no oracle feeds, no block explorer, nobody to run the nodes. I sourced, negotiated and closed the three vendor deals that filled those gaps, signed under SLAs through Cosmic Cactus.
The vendor deals
vendors sourced and signed
$5.1k
monthly run rate for critical chain infra
nodes under managed SLA
50%
of explorer fees paid in vested tokens
HP026 · Onboard an oracle provider, block explorer and node manager ↗
Avascan block explorer ↗
For day-one liquidity, the DAO pre-authorized $100,000 to retain JST as the designated market maker, with the Policy Team reviewing spread levels and terms and Cosmic Cactus signing the agreement.
HP027 · Retain a designated market maker for the order book ↗
Dec 2023 · The launch
Dec 2023
There were exactly two ways into the exchange at launch, and that scarcity was the campaign. The Hubble Passport guaranteed access: V1 users qualified automatically and just connected a wallet on launch day. Everyone else needed a referral code, seeded through KOLs and ecosystem partners and then spread trader to trader, each trader unlocking at most five codes a week by hitting volume milestones, so distribution itself rewarded trading. Referrers earned 6.25% of the trading fees of everyone they brought in, referees traded at a discounted taker fee, and Passport holders got the discount automatically, carrying the V1 user base over to the new chain.
The Hubble Passport ↗
Trading is Live: fees, codes and referrals ↗
Nov 2023
Go-to-market for omnichain deposits ran as a series: a post for every chain you could bridge from, each with its own artwork. One post gathered every chain in a single artwork, only USDC needed.
Zero gravity jumps, every chain in one frame · ♥ 31 ↗
Ran the run-up to launch. A Hubble Passport access giveaway, a staged “guess the markets” reveal ($ETH, $AVAX and $SOL), and meme posts timed to the launch-eve conversation. We absorbed a 24-hour delay when the Ledger Connect Kit exploit hit the whole ecosystem on launch eve.
The countdown ↗
Markets reveal ↗
Launch eve: yes, we are COQ aligned · ♥ 264 ↗
Absorbing the 24-hour Ledger-exploit delay · ♥ 91 ↗
Hubble went live on its own app-chain. The launch film ran the rundown, deposits from six EVM chains over LayerZero, signature-less trading and gas paid in USDC, with raw footage from the day underneath.
Play film
♥ 354 · watch on X ↗
Hubble Exchange, a Perps OrderBook DEX, is live on an Avalanche Subnet!
Footage from launch day ↗
On launch day I coordinated a partner-banner campaign. Each ecosystem partner posted a custom animated banner for Hubble, all in one window.
Hypha
2024 · Endgame
Early 2024
Ran the post-launch content push. The team shipped MakerBook, its on-chain limit order book, and I cut short films for everything that set Hubble apart: omnichain deposits, one-click trading, gas paid in USDC, and maker fees that went negative.
Omnichain ↗
One-click trading ↗
Negative fees ↗
Gas in USDC ↗
Introducing MakerBook · ♥ 115 ↗
Feb 2024
Ten million transactions in the first month. By mid-February, around 345,000 a day and past 19 million total.
345k transactions a day, past 19M ↗
Hubblenet crosses 10M transactions · ♥ 63 ↗
Mar 2024
Memes were part of the job too. This one riffed on MakerBook.
♥ 33 · watch on X ↗
Apr 2024
Rode the Avalanche meme wave with a full COQ-PERP listing campaign, built with the $COQ community. One of Hubble’s highest-engagement marketing runs.
COQ-PERP is live · ♥ 240 ↗
May 2024
WIND-DOWN
Hubble wound down, and the team said why plainly: EVM design limits meant the chain could not meet the performance specs a competitive perp exchange demands, not within the runway left. The shutdown itself was clean ops. Reduce-only mode first, then every open position settled at index price and every trader received their unrealized PnL. I had helped take Hubble from testnet to a live app-chain as head of marketing, ops and governance, then took the lessons straight into MoarMarket.
My note as we wound down · ♥ 45 ↗
The closing announcement · ♥ 73 ↗
Hubble Exchange is Closing Down ↗
$150M+ Volume
5th Team member
28 DAO proposals
Avalanche @avax · ♥ 371 Hubble Exchange, a Perps OrderBook DEX, is live on an Avalanche Subnet!
BENQI ↗
Avalaunch ↗
Chainstack ↗
Hypha ↗
Avascan ↗

Links and receipts:
- email →: mailto:samdotratnakar@gmail.com
- HP028 ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x34821de00aac2f08ad97f160dc7f3e8c831855616fa90f3637c463fc7b9cc3d5
- HP026 ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xf8d6a5201dfcc358bdd4b5fef611f2974738b8e0fe5d64b684584cde4ea19842
- HP004 ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmV65Fi1ib6cwMqfY7tb7AW2EHzrheiLgF22VnqQpn9nNK
- HP024 ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xc114ee17aa95e17b0fd6fa5f3fd56452d5631132c837fc2557f71556aba6154d
- HP022 ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x6c8951e8bed327eb483128805a297dfd79c1a89c604b1ba9fd53d1cb8674d3da
- HP001 · Funding Protocol Development ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xa7cf80751c2570745b4b2350e074a29c8e34c3722b74b1490dd293fa1bda9c8f
- The site goes live, tester signups open · ♥ 614 ↗: https://x.com/hubbleexchange/status/1434902440780861445
- The NFTs carried governance power · ♥ 111 ↗: https://x.com/hubbleexchange/status/1471049355507298304
- 56% turnout on HP004, a record · ♥ 55 ↗: https://x.com/hubbleexchange/status/1479237289611911168
- Live on mainnet · Ignition period · ♥ 362 ↗: https://x.com/hubbleexchange/status/1556551523416453120
- DAO raises $3.3M · ♥ 132 ↗: https://x.com/hubbleexchange/status/1502058171120373761
- The press release, written with Wachsman ↗: http://localhost:8823/assets/docs/hubble-press-release-2022.pdf
- Decrypt: the $3.3M raise, led by Framework ↗: https://decrypt.co/94754/hubble-exchange-raises-3-3m-to-put-perpetual-futures-on-avalanche
- HP004 · Strategic Partner Onboarding: the 5x liquidity commitment ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmV65Fi1ib6cwMqfY7tb7AW2EHzrheiLgF22VnqQpn9nNK
- HP014 · vAMM seed + insurance fund + ops multisig to close the threshold ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmQgCax1XpJ9PWNN9EDjnf3KN2NBXAkKVPWjrsCzgtmPDn
- HP013 · Month #1 incentives: the vHubble system ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmReFwofWXDcYkB2cqjFM2o4AQiJQw6EwBLgMxaKaj3DNh
- HP017 · Extending vHubble and HSC Incentives ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x02662fbc26f4693ca2976449de05a029e97a4864a54f5ad10f3c83bb0c4c5da2
- HP019 · Adjusting Trading Rewards ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x24ef24ad28046bf175bc614d15523f186058f1af7ace63b8a56cb659cddc507c
- Launch eve: the vHubble thread collection · ♥ 305 ↗: https://x.com/hubbleexchange/status/1556159519477993472
- What is vHubble? The traders edition · ♥ 234 ↗: https://x.com/hubbleexchange/status/1555483255478005761
- What is vHubble? The Makers and LPs edition · ♥ 171 ↗: https://x.com/hubbleexchange/status/1555125897161715712
- vHubble as KPI Options with Outcome (UMA) · ♥ 131 ↗: https://x.com/HubbleExchange/status/1561860456066605056
- HP011 · Airdrop to the 430 GMX-liquidated traders ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmYWJ6eU5DtJDEnPxdM87x3GWasn9JRDq8YFhAPZq9xh8p
- HP018 · $50k mainnet competition + competitor outreach ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xe43cc9783166c51216ccbe9fb84fa3749cfd8b6785974e8715ee698e3a057cf7
- Andromeda, the final testnet competition · ♥ 592 ↗: https://x.com/hubbleexchange/status/1491276502713139200
- SuperNova: a $50k testnet competition · ♥ 611 ↗: https://x.com/hubbleexchange/status/1500406967336009729
- The GMX airdrop goes claimable · ♥ 31 ↗: https://x.com/hubbleexchange/status/1493356414760194048
- The $50k mainnet competition · ♥ 129 ↗: https://x.com/hubbleexchange/status/1567828468066557954
- EP1 · Arrow Markets ↗: https://x.com/hubbleexchange/status/1559835807048822784
- EP2 · Robovault ↗: https://x.com/hubbleexchange/status/1571599908674883584
- EP3 · Polynomial ↗: https://x.com/hubbleexchange/status/1573918604265148416
- EP4 · Brahma ↗: https://x.com/hubbleexchange/status/1576867116665679877
- EP5 · Arable Protocol ↗: https://x.com/hubbleexchange/status/1579342076013334529
- EP6 · Aperture Finance ↗: https://x.com/hubbleexchange/status/1581673908235042816
- HP022 · Appoint Cosmic Cactus as the DAO signatory + holding entity ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x6c8951e8bed327eb483128805a297dfd79c1a89c604b1ba9fd53d1cb8674d3da
- HP006 · Universal Employment Framework ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmS2pb3MFa4o9oz3znPYHMxUiwCdNm6at5b1q1DdVn8JEx
- HP007 · Initiate the Hubbleverse sub-DAO ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/Qmdp5fRWU2ewBi89Qiivb5e3jtFJGQDN7KEiKnnifkbdGN
- HP008 · Mod Guild stipends across 12 language communities ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmTn4Dzr2XQxF9RsQE3rh2v1H9A8d64LLAosb8S7qjA5wm
- HP021 · Initiate the Bounties Committee ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x8add9a4bb8fd49ae6e0d9540e3d9db0001afc7c4550f2b14cb4cd62fe02202e3
- HP024 · $75,800 to Sherlock for audit + coverage ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xc114ee17aa95e17b0fd6fa5f3fd56452d5631132c837fc2557f71556aba6154d
- HP025 · Wind down V1 for Hubblenet ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x5c4bdb3e77b132373d1c4f201266711e5efe3b9a0403f65996fa7e2e05d7b1bd
- The Hubblenet announcement thread · ♥ 378 ↗: https://x.com/hubbleexchange/status/1666013545849573377
- Introducing Hubble: a Purpose-Built Chain for Perps ↗: https://medium.com/hubbleexchange/introducing-hubble-exchange-a-purpose-built-chain-for-perps-25c60db66d44
- Week one: 1,461 traders, 3.37M orders matched · ♥ 30 ↗: https://x.com/hubbleexchange/status/1669636132005347329
- The decentralized order book ↗: https://x.com/hubbleexchange/status/1695048768490701167
- Private, JIT and gasless orders ↗: https://x.com/hubbleexchange/status/1702181352513392725
- Multi-collateral by design ↗: https://x.com/hubbleexchange/status/1715444484891464097
- Seamless deposits ↗: https://x.com/hubbleexchange/status/1707824301477605570
- How to read an order book ↗: https://x.com/hubbleexchange/status/1698650401283912182
- How perps are priced ↗: https://x.com/hubbleexchange/status/1689026647364968449
- How liquidations work ↗: https://x.com/hubbleexchange/status/1680859674386526208
- The insurance fund ↗: https://x.com/hubbleexchange/status/1686442922340995072
- Eden Network validates ↗: https://x.com/hubbleexchange/status/1717937841165267107
- BENQI validates Hubblenet ↗: https://x.com/hubbleexchange/status/1720108606845309431
- Avalaunch validates Hubblenet ↗: https://x.com/hubbleexchange/status/1723032348965708046
- GoGoPool runs three nodes ↗: https://x.com/hubbleexchange/status/1730266739102117893
- HP028 · Validator Mining Program: BENQI, Avalaunch, GoGoPool, Eden ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x34821de00aac2f08ad97f160dc7f3e8c831855616fa90f3637c463fc7b9cc3d5
- Eden Network validation ↗: https://medium.com/hubbleexchange/hubble-exchange-engages-eden-network-for-hubblenet-validation-cd29d71058e7
- Benqi to validate Hubblenet ↗: https://medium.com/hubbleexchange/hubble-exchange-partners-with-benqi-for-validating-the-hubblenet-a81ad113020d
- Avalaunch to validate Hubblenet ↗: https://medium.com/hubbleexchange/hubble-exchange-has-selected-avalaunch-to-validate-the-hubblenet-ef5cdd5123b9
- GoGoPool validation ↗: https://medium.com/hubbleexchange/hubble-exchange-partners-with-gogopool-for-validating-the-hubblenet-32aaf8b38f92
- HP026 · Onboard an oracle provider, block explorer and node manager ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xf8d6a5201dfcc358bdd4b5fef611f2974738b8e0fe5d64b684584cde4ea19842
- Avascan block explorer ↗: https://medium.com/hubbleexchange/avascan-to-power-hubble-exchanges-hubblenet-with-custom-block-explorer-bbcf9351743c
- HP027 · Retain a designated market maker for the order book ↗: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xb009987f77e314b113595262484c2003147671d419ac982813161d44d0c502d2
- The Hubble Passport ↗: https://x.com/hubbleexchange/status/1732452641165504539
- Trading is Live: fees, codes and referrals ↗: https://medium.com/hubbleexchange/trading-is-live-on-hubble-exchange-b3586933df23
- (image link): https://x.com/hubbleexchange/status/1722332449756364886
- Zero gravity jumps, every chain in one frame · ♥ 31 ↗: https://x.com/hubbleexchange/status/1722332449756364886
- The countdown ↗: https://x.com/hubbleexchange/status/1732836849062912006
- Markets reveal ↗: https://x.com/hubbleexchange/status/1734634335213686904
- Launch eve: yes, we are COQ aligned · ♥ 264 ↗: https://x.com/hubbleexchange/status/1735441848485699883
- Absorbing the 24-hour Ledger-exploit delay · ♥ 91 ↗: https://x.com/hubbleexchange/status/1735314067043270935
- ♥ 354 · watch on X ↗: https://x.com/hubbleexchange/status/1735677781655073064
- Avalanche @avax · ♥ 371 Hubble Exchange, a Perps OrderBook DEX, is live on an Avalanche Subnet!: https://x.com/avax/status/1735706252347613643
- Footage from launch day ↗: https://x.com/hubbleexchange/status/1735798016647536936
- BENQI ↗: https://x.com/benqifinance/status/1735681752373604857
- Avalaunch ↗: https://x.com/nullshot_ai/status/1735699476814201212
- Chainstack ↗: https://x.com/chainstackhq/status/1735678155560542670
- Hypha ↗: https://x.com/hypha_sh/status/1735710802470957448
- Avascan ↗: https://x.com/avascanexplorer/status/1735677442675630108
- Omnichain ↗: https://x.com/hubbleexchange/status/1749896609503273119
- One-click trading ↗: https://x.com/hubbleexchange/status/1750220086089277923
- Negative fees ↗: https://x.com/hubbleexchange/status/1750985323226780003
- Gas in USDC ↗: https://x.com/hubbleexchange/status/1733914819491958879
- Introducing MakerBook · ♥ 115 ↗: https://x.com/hubbleexchange/status/1763194585990238406
- 345k transactions a day, past 19M ↗: https://x.com/hubbleexchange/status/1758550979182530951
- Hubblenet crosses 10M transactions · ♥ 63 ↗: https://x.com/hubbleexchange/status/1746201284510994876
- ♥ 33 · watch on X ↗: https://x.com/hubbleexchange/status/1763637582850592856
- COQ-PERP is live · ♥ 240 ↗: https://x.com/hubbleexchange/status/1783489361486524575
- My note as we wound down · ♥ 45 ↗: https://x.com/mrdotboson/status/1792350135550116298
- The closing announcement · ♥ 73 ↗: https://x.com/hubbleexchange/status/1791519442553442607
- Hubble Exchange is Closing Down ↗: https://medium.com/hubbleexchange/hubble-exchange-is-closing-down-7e6bf4f91027

## Governance: the 28 on-chain proposals

Governance
The Hubble Exchange DAO record. As the fifth person at Hubble, I authored most of these on-chain proposals, and together they were the operating system of a company with no head office: the legal entity that signed its contracts, the framework that hired and paid its people, treasury and multisig operations, market-maker and validator onboarding, audits, incentives, and the V1 wind-down.
Onboarding
Incentives
Treasury
Security
DAO Ops
Protocol
28
8,030
56%
20
Landmark proposals
HP024
Allocate $75,800 to Sherlock for smart-contract auditing and exploit coverage (V2)
Ahead of the V2 launch, the DAO earmarked a Sherlock audit and smart-contract exploit coverage, buying security before shipping a line of code.
May 2023 · 121 votes
HP025
Wind Down V1 in anticipation of Hubblenet
With the Hubblenet app-chain on the horizon, the DAO voted to sunset V1, a deliberate reset behind the new thesis.
Jun 2023 · 109 votes
HP022
Appoint a legal signatory & holding entity for the DAO
A DAO has no legal personality, so we incorporated one. Cosmic Cactus became the entity that signs its contracts, holds its assets, and gives participants limited liability.
Apr 2023 · 144 votes
HP004
Strategic Partner Onboarding and Multi-Sig Proposals
Hubble's most-voted proposal: onboarding strategic partners and multi-sig signers to widen the DAO's control. A record 56% of all DAO members turned out to vote.
Jan 2022 · 663 votes
The full record
Validator Mining Program
Aug 2023 · 100 votes
HP028
Onboarding Designated Market Maker
Aug 2023 · 98 votes
HP027
Onboard an Oracle Provider, Block Explorer and Node Manager
Aug 2023 · 97 votes
HP026
Allocate a $60,000 Grant to the Hubbleverse DAO
Apr 2023 · 170 votes
HP023
Initiate Bounties Committee
Oct 2022 · 184 votes
HP021
Educators Grant and On-Chain Invites
Oct 2022 · 145 votes
HP020
Adjusting Trading Rewards
Oct 2022 · 148 votes
HP019
Mainnet Trading Competition with $50,000 in Rewards
Sep 2022 · 199 votes
HP018
Extending vHubble and HSC Incentives
Sep 2022 · 256 votes
HP017
Funding Hubbleverse DAO
Jul 2022 · 350 votes
HP016
Set up an Avalanche Mainnet Validator
Jun 2022 · 304 votes
HP015
Provide liquidity to AVAX-PERP vAMM, insurance fund, ops multisig and treasury
May 2022 · 192 votes
HP014
Month #1 Incentives
May 2022 · 194 votes
HP013
Hubble Exchange’s presence at the Avalanche Summit
Feb 2022 · 356 votes
HP012
DAO Expansion: Airdropping HSC to Liquidated GMX Traders
Jan 2022 · 464 votes
HP011
Smart Contract Audit
Jan 2022 · 422 votes
HP010
Contribution Mining & Bounties, Giveaways
Jan 2022 · 421 votes
HP009
Mod Guild Compensation and Onboarding
Jan 2022 · 424 votes
HP008
Initiate Hubbleverse DAO
Jan 2022 · 425 votes
HP007
Universal Employment Framework Proposal
Jan 2022 · 427 votes
HP006
Trading Competition Rewards
Jan 2022 · 482 votes
HP005
Set 0x Appointment Proposal
Dec 2021 · 263 votes
DAO
Hubble DAO Policy Team Proposal
Dec 2021 · 262 votes
Funding Protocol Development
Dec 2021 · 610 votes
HP001
28 proposals
8,030 votes cast
56% record turnout
20 months of governance
HUBBLE DAO · SECURITY
HUBBLE DAO · PROTOCOL
HUBBLE DAO · DAO OPS
HUBBLE DAO · ONBOARDING
HUBBLE DAO · TREASURY
HUBBLE DAO · INCENTIVES

Links and receipts:
- HP024 SECURITY HUBBLE DAO · SECURITY Allocate $75,800 to Sherlock for smart-contract auditing and exploit coverage (V2) Ahead of the V2 launch, the DAO earmarked a Sherlock audit and smart-contract exploit coverage, buying security before shipping a line of code. May 2023 · 121 votes: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xc114ee17aa95e17b0fd6fa5f3fd56452d5631132c837fc2557f71556aba6154d
- HP025 PROTOCOL HUBBLE DAO · PROTOCOL Wind Down V1 in anticipation of Hubblenet With the Hubblenet app-chain on the horizon, the DAO voted to sunset V1, a deliberate reset behind the new thesis. Jun 2023 · 109 votes: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x5c4bdb3e77b132373d1c4f201266711e5efe3b9a0403f65996fa7e2e05d7b1bd
- HP022 DAO OPS HUBBLE DAO · DAO OPS Appoint a legal signatory & holding entity for the DAO A DAO has no legal personality, so we incorporated one. Cosmic Cactus became the entity that signs its contracts, holds its assets, and gives participants limited liability. Apr 2023 · 144 votes: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x6c8951e8bed327eb483128805a297dfd79c1a89c604b1ba9fd53d1cb8674d3da
- HP004 ONBOARDING HUBBLE DAO · ONBOARDING Strategic Partner Onboarding and Multi-Sig Proposals Hubble's most-voted proposal: onboarding strategic partners and multi-sig signers to widen the DAO's control. A record 56% of all DAO members turned out to vote. Jan 2022 · 663 votes: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmV65Fi1ib6cwMqfY7tb7AW2EHzrheiLgF22VnqQpn9nNK
- HUBBLE DAO · ONBOARDING Validator Mining Program Aug 2023 · 100 votes HP028: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x34821de00aac2f08ad97f160dc7f3e8c831855616fa90f3637c463fc7b9cc3d5
- HUBBLE DAO · ONBOARDING Onboarding Designated Market Maker Aug 2023 · 98 votes HP027: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xb009987f77e314b113595262484c2003147671d419ac982813161d44d0c502d2
- HUBBLE DAO · ONBOARDING Onboard an Oracle Provider, Block Explorer and Node Manager Aug 2023 · 97 votes HP026: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xf8d6a5201dfcc358bdd4b5fef611f2974738b8e0fe5d64b684584cde4ea19842
- HUBBLE DAO · PROTOCOL Wind Down V1 in anticipation of Hubblenet Jun 2023 · 109 votes HP025: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x5c4bdb3e77b132373d1c4f201266711e5efe3b9a0403f65996fa7e2e05d7b1bd
- HUBBLE DAO · SECURITY Allocate $75,800 to Sherlock for smart-contract auditing and exploit coverage (V2) May 2023 · 121 votes HP024: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xc114ee17aa95e17b0fd6fa5f3fd56452d5631132c837fc2557f71556aba6154d
- HUBBLE DAO · TREASURY Allocate a $60,000 Grant to the Hubbleverse DAO Apr 2023 · 170 votes HP023: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xa42b248b283ac568ebd7a23274208dd37205c822fa384aa7a23bade58d376288
- HUBBLE DAO · DAO OPS Appoint a legal signatory & holding entity for the DAO Apr 2023 · 144 votes HP022: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x6c8951e8bed327eb483128805a297dfd79c1a89c604b1ba9fd53d1cb8674d3da
- HUBBLE DAO · DAO OPS Initiate Bounties Committee Oct 2022 · 184 votes HP021: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x8add9a4bb8fd49ae6e0d9540e3d9db0001afc7c4550f2b14cb4cd62fe02202e3
- HUBBLE DAO · TREASURY Educators Grant and On-Chain Invites Oct 2022 · 145 votes HP020: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x9ddcd90ffe1bc4fb2b0b855d77fc5344c31c94c4870807042b2375563e53ea9d
- HUBBLE DAO · INCENTIVES Adjusting Trading Rewards Oct 2022 · 148 votes HP019: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x24ef24ad28046bf175bc614d15523f186058f1af7ace63b8a56cb659cddc507c
- HUBBLE DAO · INCENTIVES Mainnet Trading Competition with $50,000 in Rewards Sep 2022 · 199 votes HP018: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xe43cc9783166c51216ccbe9fb84fa3749cfd8b6785974e8715ee698e3a057cf7
- HUBBLE DAO · INCENTIVES Extending vHubble and HSC Incentives Sep 2022 · 256 votes HP017: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0x02662fbc26f4693ca2976449de05a029e97a4864a54f5ad10f3c83bb0c4c5da2
- HUBBLE DAO · TREASURY Funding Hubbleverse DAO Jul 2022 · 350 votes HP016: https://snapshot.org/#/s:hubbleexchange.eth/proposal/bafkreib2yvraegdxbhifknf4zldrkdtdhf4um2ygweymp4y6qg76ynvbzy
- HUBBLE DAO · ONBOARDING Set up an Avalanche Mainnet Validator Jun 2022 · 304 votes HP015: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmSDojzQhSVWGRjrNB4cxHQT9bTajRfa2G4Ddupfkao4Qr
- HUBBLE DAO · ONBOARDING Provide liquidity to AVAX-PERP vAMM, insurance fund, ops multisig and treasury May 2022 · 192 votes HP014: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmQgCax1XpJ9PWNN9EDjnf3KN2NBXAkKVPWjrsCzgtmPDn
- HUBBLE DAO · INCENTIVES Month #1 Incentives May 2022 · 194 votes HP013: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmReFwofWXDcYkB2cqjFM2o4AQiJQw6EwBLgMxaKaj3DNh
- HUBBLE DAO · PROTOCOL Hubble Exchange’s presence at the Avalanche Summit Feb 2022 · 356 votes HP012: https://snapshot.org/#/s:hubbleexchange.eth/proposal/Qmb5x1mebyAWQGnEDp5i9i3W8guwkXFjWC7CofaYG5HJHw
- HUBBLE DAO · INCENTIVES DAO Expansion: Airdropping HSC to Liquidated GMX Traders Jan 2022 · 464 votes HP011: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmYWJ6eU5DtJDEnPxdM87x3GWasn9JRDq8YFhAPZq9xh8p
- HUBBLE DAO · SECURITY Smart Contract Audit Jan 2022 · 422 votes HP010: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmX2PoyQmZVmc2oofSa6nrWyJqo4yVLhuSsTeeazwuFDKY
- HUBBLE DAO · INCENTIVES Contribution Mining & Bounties, Giveaways Jan 2022 · 421 votes HP009: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmZVqb28JqkTFd1zAmydqLE1bpLS9nEnpzJZjjqRP7LL2h
- HUBBLE DAO · ONBOARDING Mod Guild Compensation and Onboarding Jan 2022 · 424 votes HP008: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmTn4Dzr2XQxF9RsQE3rh2v1H9A8d64LLAosb8S7qjA5wm
- HUBBLE DAO · DAO OPS Initiate Hubbleverse DAO Jan 2022 · 425 votes HP007: https://snapshot.org/#/s:hubbleexchange.eth/proposal/Qmdp5fRWU2ewBi89Qiivb5e3jtFJGQDN7KEiKnnifkbdGN
- HUBBLE DAO · DAO OPS Universal Employment Framework Proposal Jan 2022 · 427 votes HP006: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmS2pb3MFa4o9oz3znPYHMxUiwCdNm6at5b1q1DdVn8JEx
- HUBBLE DAO · INCENTIVES Trading Competition Rewards Jan 2022 · 482 votes HP005: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmXa1ruuG1SLBpFQCy1NFzs1uv8gpyfZonFEVYHCQdVpr2
- HUBBLE DAO · ONBOARDING Strategic Partner Onboarding and Multi-Sig Proposals Jan 2022 · 663 votes HP004: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmV65Fi1ib6cwMqfY7tb7AW2EHzrheiLgF22VnqQpn9nNK
- HUBBLE DAO · DAO OPS Set 0x Appointment Proposal Dec 2021 · 263 votes DAO: https://snapshot.org/#/s:hubbleexchange.eth/proposal/QmbPD2HdBqAJ7zWPM3743KvbLfS8t6TJLt9E7P1UVHkqbY
- HUBBLE DAO · DAO OPS Hubble DAO Policy Team Proposal Dec 2021 · 262 votes DAO: https://snapshot.org/#/s:hubbleexchange.eth/proposal/Qmf1KWyUD167p3BWEAJY8NGWAgdXrfreS77w9Q5QzsYbBL
- HUBBLE DAO · TREASURY Funding Protocol Development Dec 2021 · 610 votes HP001: https://snapshot.org/#/s:hubbleexchange.eth/proposal/0xa7cf80751c2570745b4b2350e074a29c8e34c3722b74b1490dd293fa1bda9c8f

## Receipts: what people say (Messages app, all public posts)

### From Ash
Apr 2026
❤️
you are one of the most principled people I have ever met. very thankful for you and Moar Market - excited to see what amazing things you think about and make happen next
view post ↗
Ash · @ASHAWONN · SVP, Aptos Foundation · Apr 2026 view post ↗
- ❤️ you are one of the most principled people I have ever met. very thankful for you and Moar Market - excited to see what amazing things you think about and make happen next Ash · @ASHAWONN · SVP, Aptos Foundation · Apr 2026 view post ↗: https://x.com/ASHAWONN/status/2045235624349700442

### From JD Kanani
Nov 2019
Sam is the most humble, smartest, and the boldest person I have ever met. He is a way ahead of his age.
view post ↗
JD Kanani · @jdkanani · CEO Morphic, prev CEO Polygon · Nov 2019 view post ↗
- Sam is the most humble, smartest, and the boldest person I have ever met. He is a way ahead of his age. JD Kanani · @jdkanani · CEO Morphic, prev CEO Polygon · Nov 2019 view post ↗: https://x.com/jdkanani/status/1194058048559632384

### From River
Sep 2024
Good to see Sam doing what he does best again!
view post ↗
Sam is a nonstop chad
River · @river0x · DeFi Lead, Plasma · Sep 2024 view post ↗
River · @river0x · DeFi Lead, Plasma · Dec 2025 view post ↗
- Good to see Sam doing what he does best again! River · @river0x · DeFi Lead, Plasma · Sep 2024 view post ↗: https://x.com/river0x/status/1838731893178507594
- Sam is a nonstop chad River · @river0x · DeFi Lead, Plasma · Dec 2025 view post ↗: https://x.com/river0x/status/1995503287890772325

### From Will
Aug 2025
Some of the best devs in DeFi
view post ↗
Fantastic run and graceful finish
Will · @iwillpat · Partner, Hashgraph · Aug 2025 view post ↗
Will · @iwillpat · Partner, Hashgraph · Apr 2026 view post ↗
- Some of the best devs in DeFi Will · @iwillpat · Partner, Hashgraph · Aug 2025 view post ↗: https://x.com/iwillpat/status/1956369297808187850
- Fantastic run and graceful finish Will · @iwillpat · Partner, Hashgraph · Apr 2026 view post ↗: https://x.com/iwillpat/status/2045203710067040332

### From Delphi Digital
Jun 2025
Moar Market is a pure-play leverage primitive on Aptos. Users can borrow against their collateral, deploying both the loan and the collateral into yield-bearing strategies or for margin trading.
From their Aptos ecosystem report, “Inside the Ecosystem: Fueling Aptos’ Global Trading Engine.” Moar mapped alongside Aave, Thala and Hyperion.
view post ↗
Delphi Digital · @Delphi_Digital · Crypto research · Jun 2025 view post ↗
- Moar Market is a pure-play leverage primitive on Aptos. Users can borrow against their collateral, deploying both the loan and the collateral into yield-bearing strategies or for margin trading. From their Aptos ecosystem report, “Inside the Ecosystem: Fueling Aptos’ Global Trading Engine.” Moar mapped alongside Aave, Thala and Hyperion. Delphi Digital · @Delphi_Digital · Crypto research · Jun 2025 view post ↗: https://members.delphidigital.io/reports/inside-the-ecosystem-fueling-aptos-global-trading-engine/

### From Kinja
Apr 2026
I’ve seen many Aptos protocols fold, but Moar leaving hurts the most. Damn bruh, this is sad. Moar was easily the best thing on Aptos. Why leave? Please stay, gaddammit! 😭
view post ↗
Kinja · @44_kinja · Moar user · Apr 2026 view post ↗
- I’ve seen many Aptos protocols fold, but Moar leaving hurts the most. Damn bruh, this is sad. Moar was easily the best thing on Aptos. Why leave? Please stay, gaddammit! 😭 Kinja · @44_kinja · Moar user · Apr 2026 view post ↗: https://x.com/44_kinja/status/2045176910854930706

### From Chetan
Apr 2026
I was one of those who had helped Moar Market a lot with testing, trying out strategies, requesting features, seeing Sam and the team working on each request, and implementing them. After all this, the protocol winding down isn’t so easy to see. I am sure this team will do amazing work in the future, no matter what they do.
view post ↗
Chetan · @thecaptaingates · Moar power user · Apr 2026 view post ↗
- I was one of those who had helped Moar Market a lot with testing, trying out strategies, requesting features, seeing Sam and the team working on each request, and implementing them. After all this, the protocol winding down isn’t so easy to see. I am sure this team will do amazing work in the future, no matter what they do. Chetan · @thecaptaingates · Moar power user · Apr 2026 view post ↗: https://x.com/thecaptaingates/status/2045174064432767375

### From Santi Dgws
Apr 2026
I really enjoyed using your product, it was my go to app to make money on chain.
view post ↗
Santi Dgws · @Deguywithstyle · Moar user · Apr 2026 view post ↗
- I really enjoyed using your product, it was my go to app to make money on chain. Santi Dgws · @Deguywithstyle · Moar user · Apr 2026 view post ↗: https://x.com/Deguywithstyle/status/2045193772674220047

### From andrew
Dec 2025
Still one of the best dapps on Aptos. GG!
view post ↗
andrew · @0xandrewxyz · Moar user · Dec 2025 view post ↗
- Still one of the best dapps on Aptos. GG! andrew · @0xandrewxyz · Moar user · Dec 2025 view post ↗: https://x.com/0xandrewxyz/status/2000632667516375360

### From 0xobsessed
Dec 2025
huge update by Moar Market Sam keeps shipping nonstop, ignoring sentiment and market conditions and i respect that a lot i tested the auto-rebalance in beta and this is genuinely a perfect tool to farm on Aptos
view post ↗
0xobsessed · @0xobsessed · Community Lead, Echelon & Thala · Dec 2025 view post ↗
- huge update by Moar Market Sam keeps shipping nonstop, ignoring sentiment and market conditions and i respect that a lot i tested the auto-rebalance in beta and this is genuinely a perfect tool to farm on Aptos 0xobsessed · @0xobsessed · Community Lead, Echelon & Thala · Dec 2025 view post ↗: https://x.com/0xobsessed/status/1997383667006456311

### From Usman Sarki
Jul 2025
Yes, funds are safe. Third party dependency issue. Will be resolved soon and will add a backstop so wont happen again.
view post ↗
Big respect to Moar Market for how quickly they explained everything and made sure our funds are safe. They’re already fixing it and adding protection so it won’t happen again. That’s how you build real trust. Shout-out to the team for working tirelessly day and night, 24/7
sam · Jul 2025 view post ↗
Usman Sarki · @SarkyUsman · Moar user · Jul 2025 view post ↗
- Yes, funds are safe. Third party dependency issue. Will be resolved soon and will add a backstop so wont happen again. sam · Jul 2025 view post ↗: https://x.com/mrdotboson/status/1941672883652030847
- Big respect to Moar Market for how quickly they explained everything and made sure our funds are safe. They’re already fixing it and adding protection so it won’t happen again. That’s how you build real trust. Shout-out to the team for working tirelessly day and night, 24/7 Usman Sarki · @SarkyUsman · Moar user · Jul 2025 view post ↗: https://x.com/SarkyUsman/status/1941677536070582766

### From Ruvaag
Oct 2024
you guys have been cooking!
view post ↗
really appreciate you and this! it’s been amazing building with you over the years
Ruvaag · @ruvaag · Co-founder, Onyx Terminal · Oct 2024 view post ↗
Ruvaag · @ruvaag · Co-founder, Onyx Terminal · Mar 2025 view post ↗
- you guys have been cooking! Ruvaag · @ruvaag · Co-founder, Onyx Terminal · Oct 2024 view post ↗: https://x.com/ruvaag/status/1844416907749061010
- really appreciate you and this! it’s been amazing building with you over the years Ruvaag · @ruvaag · Co-founder, Onyx Terminal · Mar 2025 view post ↗: https://x.com/ruvaag/status/1904278235799838744

### From SONJI
Apr 2026
Throughout watching the growth, I thought it was an interesting challenge. I respect you. See you next with a good product. Good luck, friend.
view post ↗
SONJI · @_sonji · Early Moar user · Apr 2026 view post ↗
- Throughout watching the growth, I thought it was an interesting challenge. I respect you. See you next with a good product. Good luck, friend. SONJI · @_sonji · Early Moar user · Apr 2026 view post ↗: https://x.com/_sonji/status/2045700666291810729

### From Samneet Chepal
Dec 2023
I deeply admire the team’s perseverance through a challenging bear market.
view post ↗
Samneet Chepal · @samchepal · Hubble angel investor · Dec 2023 view post ↗
- I deeply admire the team’s perseverance through a challenging bear market. Samneet Chepal · @samchepal · Hubble angel investor · Dec 2023 view post ↗: https://x.com/samchepal/status/1735891210978672752

### From Farid Rached
Dec 2023
Your dedication, commitment and patience has been outstanding.
view post ↗
Farid Rached · @FaridRached · Ex Growth, Avalanche & Magic Labs · Dec 2023, on Hubble view post ↗
- Your dedication, commitment and patience has been outstanding. Farid Rached · @FaridRached · Ex Growth, Avalanche & Magic Labs · Dec 2023, on Hubble view post ↗: https://x.com/FaridRached/status/1733223537790390375

## Sequencing (music)

Patch 01
Sam, OP-XY Sessions
0:00
-2:18
Library
drag to spin
Name
Time
Artist
Album
2:18
Sam
OP-XY Sessions
1 song
⌕ Search
Music

## Flying

Installing: Private Plane License
Software Update
via Cessna 152

## About This Bike (cycling)

Brompton
Sam’s folding bike
Folding bicycle · Not connected
About This Bike
Chip
Memory
Storage
Power
Ridden in
Next ride
ChipTwo legs
MemoryEvery ride
StorageFolds to fit under a desk
PowerThe rider. No battery.
Ridden inMontréal · Vancouver
Next rideLisbon

## Travels

Pinned
Montréal My Location · ⌂ Home
Lisbon🇵🇹
Barcelona🇪🇸
San Sebastián🇪🇸
Berlin🇩🇪
London🇬🇧
Paris🇫🇷
Tokyo🇯🇵
Kyoto🇯🇵
Osaka🇯🇵
Singapore🇸🇬
Seoul🇰🇷
Goa🇮🇳
Delhi🇮🇳
Dubai🇦🇪
Muscat🇴🇲
Kuala Lumpur🇲🇾
New York🇺🇸
San Francisco🇺🇸
Denver🇺🇸
Toronto🇨🇦
Been There

## Side projects

NEAR Intents Monitor
Real-time analytics for NEAR's intents: volumes, fees, burns, and a deflation simulator that projects when burns catch up to issuance.
Sam Ratnakar
mrdotboson
Built by Sam
FEATURED · ANALYTICS
Analytics · Live
OPEN
Also building
samsworld
This desktop · no frameworks, no build step
YOU ARE HERE
SO-101 Robot Arm
Open-source robotics · Hugging Face LeRobot
GET

Links and receipts:
- OPEN: https://nearmonitor.com/
- YOU ARE HERE: http://localhost:8823/
- GET: https://huggingface.co/docs/lerobot/so101

## Books

ESSAY Magic Magic
Library
Writing
1 essay

## Calendar / book time

MON 13
TUE 14
WED 15
THU 16
FRI 17
MON 20
TUE 21
WED 22
THU 23
FRI 24
2:00 PM
2:30 PM
3:00 PM
3:30 PM
4:00 PM
6:00 PM
6:30 PM
7:00 PM
7:30 PM
8:00 PM
8:30 PM
Calendar
SUN
12
July
10
11
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Book a call
30 minutes · Google Meet
Times shown in UTC
Monday, July 13

## Essay: Magic

Magic
One of the things that makes blogs great is when people are openly vulnerable. Although there's an inclination to use it primarily for professional purposes, expressing views about markets and industry direction, I believe an equally important aspect is putting yourself out there. It's a prerequisite to building deeper relationships. This is me doing that.
The last few months have been positively challenging. When we concluded that Hubble Exchange had run its course and would be closed down, I knew there would be pain ahead. But to some degree, I found this reassuring. Each time I've gone through severe pain in my life, I've also experienced rapid growth in the period that follows.
One of my greatest unfair advantages is my stamina for relentless optimism and perseverance. I believe going through intense challenges early in life builds a sense of anti-fragility. It goes something like: "if I went through difficult times before, I can go through anything." Life is a testnet. Pick a game and have fun.
The Human Side of Shutting Down
Letting go of the marketing team was one of the saddest things I've had to do professionally. It hit differently at Hubble because I built this team myself and knew these people intimately over the last 2–3 years. I'd traveled with them, hosted booths together, gone on road trips, stayed with their families, and met their spouses. When you go through the ups and downs in an early-stage startup setting, it bonds you for life.
One of Hubble Exchange's most valuable products was one our users never saw: the culture we fostered. We tuned into work each day, not just because it was a job. We genuinely liked working with each other. (And you shouldn't take this for granted. Because it doesn't necessarily scale.)
The Magic of Team Chemistry
As a manager, I try to be the glue that binds the team together, leading with empathy. When you put together high-integrity people with strong work ethic who are genuinely happy, and they believe in the shared vision, productivity optimizes itself. But there's a secret ingredient that's not always replicable: magic.
We had magic in our team at Hubble.
Perhaps this is why, after Hubble Exchange closed down, the engineers on our team were driven to continue working together. For a while, I played recruiter, using my network to find roles for many of the talented engineers. I even started interviewing myself.
A New Chapter
But it became obvious that the engineering team wasn't ready to give up on each other yet. They were hungry for a win. And I was called to duty. For the first time, I wasn't intending to start a project. I was summoned to it.
Around this time, I booked a flight to be in Vancouver Monday morning for a meeting that could give us a chance to build something new. On my way, we brainstormed two ideas to pitch. One of them was MoarMarket.
Seven days later, after jam-packed days of meetings and discussions, I returned with a soft commitment for capital that would be used to build MoarMarket. We had conviction. We were hungry for a win. And a direction was set.
WRITING // SAM
Essay
On closing Hubble, the team we built, and being summoned to what came next.
Back to home

Links and receipts:
- BACK: http://localhost:8823/index.html
- BACK TO HOME: http://localhost:8823/index.html