ORE Protocol’s Next Big Move in the Solana Ecosystem ORE Protocol(@OREsupply) was introduced as a project in April 2024 on the Solana blockchain for advocating a fair and accessible mining system for everyone. It sought to resolve the centralization issues of traditional PoW, which depend on expensive hardware and large-scale mining pools, by introducing a new censorship-resistant PoW algorithm that anyone could mine. However, on October 22, 2025, ORE Protocol announced a major pivot to a probabilistic mining model based on a 5×5 grid, citing the fundamental value leakage inherent in traditional PoW. The mechanism operates as follows: 1. Betting phase: In each round, participants bet SOL on one of 25 cells, with 1% used for protocol operations. 2. Selection phase: One cell is chosen randomly. Participants who bet on it become the winners and receive 1 ORE through either a single-winner or weighted model . In addition, there’s a a 1-in-625 chance the cell is designated a Motherlode Cell, triggering a payout from the Motherlode Pool, which serves as a ‘prize pool’ and accumulates 0.2 ORE per round when not activated. 3. Reward distribution: 90% of SOL bet on non-winning cells goes to the winner(s), while 10% is allocated to ORE buybacks. Of the repurchased ORE, 90% is burned, and 10% is distributed to ORE stakers. (data h/t: @0xheun) Thanks to this structure, ORE Protocol has achieved $1.05M in weekly revenue, ranking sixth in the Solana ecosystem, alongside established protocols such as launchpads, DEXs, and trading applications. Furthermore, as of November 4, ORE continues to burn around $100K worth of tokens daily, totaling 8,066 ORE (~$1M) over the past seven days, a scale notable even compared to Avalanche’s $140K AVAX burn during the same period. A key innovation is the Refining Fee mechanism: when miners claim their ORE rewards, a 10% fee is charged and redistributed to miners who have not yet claimed. This design effectively reduces short-term sell pressure while fostering a dual incentive: - Maintaining immediate liquidity - Encouraging long-term holding of ORE With this distinctive mechanism, ORE Protocol has become one of the most closely watched yield-based projects in the Solana ecosystem, even attracting recognition from the Solana Foundation. Nevertheless, sustaining such momentum requires a delicate balance between incentive design and participant behavior. While the system’s intent to reduce short-term sell pressure is reasonable, a price downturn could trigger a surge of simultaneous claims and cash-outs, intensifying sell pressure. To prevent this risk, the protocol must secure long-term demand drivers and ensure baseline miner profitability beyond short-term token dynamics. I hope ORE will continue to mature into a sustainable, community-driven protocol that defines a new paradigm for Solana-native Store of Value (SoV) within the Solana ecosystem.

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Okay, @Securitize is going public through a merger with SPAC company (CEPT). Btw CEPT is currently trading around $12. So what valuation does that imply for Securitize (SECZ) after the merger? [Analysis] - Securitize has a pre-money valuation of $1.25B - Raised $225M in PIPE financing from Arche, Borderless Capital, Hanwha Investment, ParaFi, and InterVest - The PIPE deal was structured at $10.00 per CEPT Class A share - Each Class A share will convert into one SECZ common share after the merger - CEPT shares currently trading at $12 are also Class A shares, meaning the market is already pricing in roughly a 20% premium over the PIPE price - SPAC trust account holds $244M - According to the investor deck, post-merger shares outstanding will total 182.1M - With CEPT trading around $12, the market is effectively valuing SECZ at about $2.1B - Based on 2025E revenue, Securitize’s P/S ratio is around 31 - The most comparable public company, @Figure, trades at roughly 29, which puts Securitize in a similar range - From a tokenized AUM perspective, Securitize sits at $4.4B while Figure holds $13.2B. That implies a market cap to AUM ratio of 0.47 for Securitize versus 0.71 for Figure, suggesting Securitize is currently undervalued. [Final Thoughts] The RWA tokenization market is just getting started and growing fast. Securitize is likely to strengthen its position as a market leader, and with its push into equity tokenization, the upside potential looks massive (NFA). Tokenize the World