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New Modalities for Issuance and Trading - Multicoin Capital

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Get the best insights in crypto delivered directly to your inbox. Subscribe to our newsletter below. It is effectively impossible for a regular person to create a new tradeable asset on traditional financial rails. Crypto trivializes this. Today, anyone in the world can create new assets on Solana in a few seconds for ~$0 cost. Consequently, there has been an explosion in user-generated assets (UGAs). The idea of UGAs has been around in crypto for some time, first in the form of social tokens (e.g., BitClout, FriendTech, etc.), and more recently in the form of memecoins (pump.fun) and content coins (Zora). The general trading modality on secondary markets has not really changed since the advent of the internet. The earliest online brokerage services from 30 years ago look roughly like Robinhood, Coinbase, and Phantom do today. Specifically, users type in the ticker (or contract address) for the asset that they want to trade in a search box. Asset pages have charts, some news, and of co

writing New Modalities for Issuance and Trading by Vishal Kankani & Shayon Sengupta & Kyle Samani June 26, 2025 | 14 minute read It is effectively impossible for a regular person to create a new tradeable asset on traditional financial rails. Crypto trivializes this. Today, anyone in the world can create new assets on Solana in a few seconds for ~$0 cost. Consequently, there has been an explosion in user-generated assets (UGAs). The idea of UGAs has been around in crypto for some time, first in the form of social tokens (e.g., BitClout, FriendTech, etc.), and more recently in the form of memec

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