Don’t sell your equities. Borrow against them. Solana incubator alumni @0xmryan built @spoutfi, allowing users to unlock liquidity from their assets at 0% interest. Buy, hold, compound, and now borrow, right here on @solana .

This company started in a small office in Thousand Oaks, California in 1980. At the time, almost nobody outside biotech knew it existed. When it went public in 1983, $1,000 bought a stake in a company most people couldn’t even pronounce. That same $1,000 is worth $1.25 million today. That’s a 18.52% compound annual return over more than four decades. Through the dot-com crash, the 2008 financial crisis, a global pandemic, and repeated drug trial failures, it kept compounding. Today it sits in the Dow Jones 30, generates $36.75B in annual revenue, and has multiple products still growing at double-digit rates. It is still trading below its all-time high, with analysts pricing it roughly 30% higher than current levels. Guess the ticker.

Owning assets is almost meaningless if you can’t access it when you need liquidity. Traditional finance slows you down with paperwork, checks, and long approval cycles. We’re building a system where you unlock liquidity from what you already own in a few clicks. Soon.

Real yield doesn’t have a good day and a bad day. It just pays. Most stablecoin yields today sit around 4–5%, closely tied to the risk-free rate. They’re safe, predictable, and widely available, but there’s often little reason for them to move meaningfully higher. At Spout, we’re building toward a different model. We believe the next generation of yield will come from real economic activity rather than token emissions or incentives designed to attract liquidity temporarily. Across global markets, trillions of dollars sit in stocks and ETFs. Many investors need liquidity at some point but don’t want to sell their assets, trigger taxes, or lose long-term exposure. At the same time, stablecoin holders are searching for sustainable sources of yield. We’re building the infrastructure designed to bring those two needs into the same system. The goal is to make equities more productive, allowing liquidity to be unlocked while creating yield backed by activity around real assets. Our target is a model capable of delivering 10% blended APY without relying on inflationary rewards. Because sustainable yield shouldn’t depend on printing more tokens. It should come from real assets being put to work.

If @vibhu was a stock on the US market, would you buy him? And if you did, would you ever sell? Or would you borrow against him?

Spout Finance Biweekly Space continues tomorrow. This week features our CTO, @Mierlo1999 Topic: “Building on Solana: The Technical Bets We Made” We’re diving deeper into the engineering choices behind Spout and why @solana is the base layer we chose. Set your reminder 👇

Legacy DeFi has a structural problem , and the 2026 on-chain data exposes it completely. 1 - The Looping Detour (Kamino & Aave) 90.35% of all borrow transactions on Kamino are captured by just 37% of looper wallets. The remaining 63% of organic users , people who simply want efficient, straightforward credit , are left fighting over a mere 9.65% of network activity. The protocol was built for everyone but the data shows it is serving only a small, sophisticated minority. Organic borrowers are being systematically crowded out by loopers who dominate the entire network format. And this is not just a Kamino problem , on Aave, 82.42% of borrow transactions are driven by just 23.03% of looper wallets. The looping detour is a legacy DeFi-wide pattern. 2 - Fatal for Newcomers (Aave) 56.8% of Aave wallets borrow exactly once and never return. More than half of all newcomers drop off immediately because the system never made room for them. The 43.2% who stay are crypto-native whales who already understand how to navigate complex yield strategies. Legacy DeFi consistently rewards insiders and quietly filters out everyone else before they even get started. 3 - RWA Support Wasn't Enough (Kamino) Kamino recently expanded to support Real World Assets , a significant step forward. But the user data tells a different story. Small, everyday users are still not staying. The looper minority still dominates. Why? Because adding new asset types does not fix the core problem. As long as variable interest rates remain, the cost of borrowing keeps eating into margins , and mainstream users keep leaving. The barrier was never just the asset. It was always the rate. 4 - Stablecoin Dominance Is Choking Aave 63.89% of all borrows on Aave are pure stablecoins. More than half of the entire protocol is being used for one thing , looping dollars to chase yield. This is not a healthy credit market. This is a system that has been quietly captured by a single repetitive strategy. Real credit markets serve people with real needs , salaries, stocks, properties. Aave's borrowing market has drifted so far from that reality that everyday users do not even recognise it as a tool built for them. The credit market has been a closed loop for insiders. @SpoutFi is changing this , 0% interest loans against tokenized real world assets. No looping detours. No whale advantage. Just clean, efficient credit for the people legacy DeFi left behind. @greatgabriell

kamino is solana’s biggest lending protocol with over $3.2B TVL, thousands of users and literally one of the most battle-tested money markets in all of DeFi. in march 2025, a bridge exploit on a completely different chain “KelpDAO on Ethereum”. this triggered a wave of panic withdrawals across DeFi, the contagion spreads cross-chain and it eventually reached Solana. @kamino’s prime USDC pool had a total of $178M in deposits but hits 100% utilization in hours and the two other vaults cross 95%. what does that mean in practice? borrowing costs spike with no warning, users trying to withdraw their own deposits can’t, positions that were profitable at 7% APR suddenly become unprofitable as utilization spikes and borrowing costs reprice overnight at rates they never agreed to. liquidations start cascading not because prices moved, not because anyone made a bad call. because a pool on a different chain got exploited and they got punished by everyone downstream. kamino didn’t do anything wrong, their protocol just worked exactly as designed. that’s the problem. the model is designed so that your borrowing cost is a function of what strangers do with the same pool. • one whale exits, your rate moves. • one exploit hits three chains away, you can’t withdraw and utilization crosses a threshold and the algorithm reprices your loan while you sleep. this literally means you borrowed from a crowd and the crowd doesn’t care about your position. this is the biggest friction across DeFi lending today. aave. morpho. kamino. compound. all have the same model. when utilization goes up, you pay more and when utilization hits 100%, you’re stuck. the question nobody is asking is: why does your rate have to depend on anyone else at all? we are fixing this model

"What if your equities were more productive, could that offset the high fees you pay when margin trading?" - @EmonMotamedi that's the problem & we are the answer. Our CEO - @0xmryan had just Demoed this live at @incubator

i am buying stocks on Solana

The S&P 500 has survived everything. The 1929 crash. The dot-com bubble. The 2008 financial crisis. The March 2020 collapse. Every single time, it recovered and went on to make new highs. Any penny invested in SPY when it launched in 1993 would be 28x today. But compounding only works if you’re still holding the asset. That’s the part people underestimate. The biggest threat to long-term returns isn’t always a market crash. It’s being forced to sell during one. When liquidity dries up, investors often face a choice: Sell the asset. Or solve the problem another way. The people who captured decades of upside found ways to stay invested. That’s why we’re building Spout Finance. Tokenized equities onchain. Liquidity without selling. Access to capital while keeping your position. Hold, borrow, stay invested. Let compounding do the heavy lifting.

Huge congrats to the team at @SpoutFi on completing the Solana Incubator 👏 Here’s what they had to say about the experience: “The incubator has been an amazing experience, both for building Spout and on a personal level.” - @MrReijn “You get guidance directly from Solana Labs & the Foundation, plus exposure to VCs, infra teams and founders across the ecosystem. Anyone building on Solana should highly consider applying.” - @Mierlo1999 Superteam NL members are killing it, and that deserves some attention 🇳🇱🚀

Current @incubator cohort is 🔥🔥🔥 Met the founders of: @CoralOS_ai @fractalsfi @TradeNeutral @solomon_labs @SpoutFi Future of Solana is in great hands

Dutch builders are showing up strong this Colosseum 👀 So it’s time to introduce a new wave of Dutch members as well 👇 Please meet @0xJordanG @leo_ryuta @MrReijn and @hialex_sol 🇳🇱

Congratulations to @SpoutFi, one of our Cohort 4 teams, on their strategic investment from Anchorage Digital!

The best founders should be building on the best tools. Every Cohort 4 team just got a Seeker from @solanamobile — now the apps they're building are in their own hands.

Wonder who is behind Spout? Meet co-founders @Mierlo1999 and @0xmryan We began working on Spout because we saw a gap in the financial instruments that are accessible to the average person vs your typical large institution There is a growing wealth gap, and it is evident that people are hungry to break out of their respective economic classes. Shouldn't the same tools that large institutions have access to also be available to everyday people? We sure think so. With Spout, anyone can take loans out against their U.S. equities and engage in the DeFi strategies we crypto-natives have grown to love We hope that you join us as we begin our journey to close the gap! 🐳

Why sell your @AptosMonkeys for APT when you can spice it up a bit and trade it to your friends for @AptosPenguins, @APTOS_Borgs, @PaintedPandaz, @AptoRobos, or many more

Rewards clock is ticking ⏰ 6 days…