DeFi, DePIN, and Solana's Future with Tushar from Multicoin Capital

In this captivating episode of the Building Web3 podcast, Jax Dwyer hosts Tushar, co-founder and managing partner of Multicoin Capital, for a comprehensive conversation about blockchain investments, DeFi, meme coins, Solana’s scalability, DePIN networks, and the future of tokenized securities. Multicoin Capital, known for its thesis-driven investment strategy, has consistently been at the forefront of identifying blockchain innovations that are reshaping global financial systems. Tushar explains why many investors are missing the mark by focusing on hype-driven assets instead of utility-driven applications that connect with the real world.

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Chapters

00:00 The Utility of Blockchain Beyond Meme Coins
02:46 The Evolution and Impact of Meme Coins
06:10 Solana's Unique Position in the Blockchain Landscape
09:01 Thesis-Driven Investment Strategies in Crypto
11:50 Decentralized Infrastructure and Real-World Applications
14:50 Future Trends in DeFi and Payments
17:57 The Role of Regulation in Blockchain Growth
20:56 Innovative Ideas for Founders in the Crypto Space
24:10 DePIN Networks: Helium, HiveMapper, and Coordination Models
27:45 Scaling Blockchain: Single State Machines vs. Modular Ecosystems
30:30 The Future of Borrow-Lend Protocols in DeFi

Tushar delves into the evolution of meme coins, comparing them to the NFT craze of 2021, and why they provide important stress tests for blockchain networks like Solana. He discusses how Multicoin’s early conviction in Solana was built on a unique thesis prioritizing bandwidth optimization—an approach that helped the blockchain handle intense network demands. He also shares insights on the trade-offs between single state machines, like Solana, and modular roll-up ecosystems.

He introduces innovative concepts, like “buy now, pay never,” which could redefine how users pay for products and services by redirecting yield instead of spending principal capital. If you’re interested in where blockchain technology is headed over the next few years, this episode provides valuable insights, practical advice, and a forward-thinking perspective on emerging trends.

Tushar shares insights on:
🔹 The evolving role of meme coins and their impact on blockchain systems.

🔹 Why Multicoin’s early conviction in Solana paid off.

🔹 The future of blockchain scaling: single state machines vs. modular ecosystems.

🔹 DePIN networks like Helium and HiveMapper and their role in decentralized coordination.

🔹 DeFi’s next wave, including stablecoins and borrow-lend protocols.

🔹 “Buy now, pay never”—an emerging intersection of payments and DeFi

With practical advice for builders and a glimpse into what Tushar believes will define the next era of crypto innovation, this is a must-watch for anyone looking to stay ahead in Web3.

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Disclaimer: Nothing said on Building Web3 is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Jax, and our guests may hold positions in the companies, funds, or projects discussed.

Need technical content? Book a free strategy session with our team at https://jaxdwyer.com/

Need technical content? Book a free strategy session with our team at https://jaxdwyer.com/