codex

Colosseum Codex: MetaDAO Backable, Solana DvP, Web3.js v3

MetaDAO Backable, Solana DvP Atomic Settlement, Web3.js v3

This week has something for everyone! Projects can raise with MetaDAO Backable (formerly Futardio) for just $15. For institutions, Solana Foundation's DvP is an open-source escrow program that settles both sides of a trade in one transaction or not at all. And developers get v3 of web3.js, powered by Kit with with the API surface they're already familiar with.

Don't forget that Crypto World’s Fair product submissions are due by October 12, 11:59pm Pacific Time!

🔥 MetaDAO Backable

MetaDAO renamed Futardio, its permissionless fundraising platform on Solana, to Backable and cut the cost of listing a raise from 0.5 SOL to $15. Anyone can raise between $10,000 and $2 million for a company, and anyone with a Solana wallet can back one. Backable has no application and no review committee, and its docs say "nobody checks whether the teams are real, honest, or capable."

Commitments sit in an escrow program that neither the team nor Backable can withdraw from while the raise is open. If a raise ends below its goal, every backer can claim their full contribution back by sending a claim transaction.

If it funds, 80% of the goal goes to the company treasury, 20% seeds a liquidity pool, and the team can draw only a published monthly budget capped at one sixth of the goal. Larger spends, new token mints, and any sale of the brand or IP need a proposal decided by MetaDAO's decision markets.

Allocation in an oversubscribed raise was already weighted by time in escrow and an early-fill boost, and Backable added Ownership Score as a third weight. Each day a wallet's score shrinks by 1%, then gains the dollar value of the MetaDAO ownership tokens it holds.

New raises also launch on MetaDAO 2.0, which sorts proposals into seven types with their own market lengths and pass bars.

The one live raise is The Syndicate, a mafia strategy game with a $250,000 goal, a $1 million cap, and $100,000 of its minimum reserved for Colosseum and other aligned parties.

Backable

🏦 Solana DvP

Solana Foundation released Solana DvP, an open-source escrow program for delivery-versus-payment settlement, where both sides of a trade settle in one transaction or neither does. J.P. Morgan gave input on institutional settlement practices.

Each trade gets a program-owned record and two escrow accounts, one per leg. Both parties fund their legs with ordinary token transfers, so custodians don't need a custom program call. A settlement authority named in the trade, such as a bank, custodian, or exchange, is the only signer that can settle, and it can't redirect the proceeds. Settlement fails if either escrow holds less than the agreed amount or the trade has expired. Until settlement, either party can take its own leg back.

A trade can mix SPL Token and Token-2022 legs, including mints with the permanent delegate, pausable, and transfer hook extensions. The program rejects mints with transfer fees, interest-bearing or scaled UI amounts, or the non-transferable extension.

The Foundation says the program is "ready for use with real funds," plans to add private settlement, and is taking design partners ahead of a production release.

Solana Foundation Launches Solana DvP, an Atomic Settlement Program Built for Financial Institutions

🧰 Web3.js v3

Solana Foundation released @solana/web3.js v3, which keeps the class-based API that v1 code is written against, including Connection, Keypair, and PublicKey, and rebuilds it on @solana/kit.

In v3, Keypair implements Kit's KeyPairSigner, Transaction.add() accepts Codama-generated instructions directly, and getAccountInfo returns Uint8Array data that Kit's codecs can decode. Teams that maintain tooling or program clients can now support web3.js and Kit developers with a single API.

3.x stays on npm's next tag until October 19 and then gets promoted to latest, so until then developers have to install v3 specifically.

The migration guide says non-trivial TypeScript consumers should expect real migration work, most of it being mechanical rather than architectural.

The breaking changes include:

The Keypair constructor is no longer public, and generating or restoring a keypair is async
Many RPC numeric fields are now bigint
Account data is Uint8Array instead of Buffer
An omitted commitment defaults to confirmed instead of finalized
The Account class and the fee-calculator methods are gone

The repo also includes a skill that lets a coding agent handle
the mechanical parts of the migration.

The new @solana/wallet-adapter discovers wallets through Wallet Standard registration, with no per-wallet adapter constructors, and adds Sign In With Solana 1.1.

Solana's docs call v3 "the bridge" for teams with a large legacy codebase where a full rewrite to Kit isn't practical.

Bringing Solana's JS Ecosystem together. @solana/web3.js v3 is here.

⭐ Highlights

Solana Q3 Report: DeFi Bounces Back - SolanaFloor
Solana processed over 14B transactions in Q3 as tokenized asset trading volume rose 38.8% from Q2 and DeFi TVL climbed back above $6.57B.

Jupiter adopts Anza's offchain message signing standard - @JupiterExchange
Limit orders and DCA in the Jupiter Wallet and on jup.ag are now signed with messages a hardware wallet can display, and it's live with Ledger through Jupiter Wallet.

Agentic Finance Report - @SolanaFndn
This report covers what has to be in place before AI agents manage institutional capital, from regulated custody and settlement to verifiable identity.

⚡ Quick Hits

How to Migrate from Solana web3.js v1 to v3 - Quicknode

Introducing Solana Microscope: Program Monitoring and Alerts - Solana

▶️ How a managed fund works on Solana - @QuicknodeSolana

▶️ Alpenglow Migration Deep Dive - @anza_xyz

Why Deterministic Ordering and Guaranteed Execution Are Different Problems on Solana - @raikucom

▶️ DVP on Solana: A Complete Guide — Delivery vs Payment with Atomic, Instant Settlement - Jonas Hahn

Solana transaction v1 is now live on Jupiter's Swap API - @JupDevRel

Samsung partners with Solana to bring USDC to 82 million US Galaxy devices - @solana

Want early access to the latest products launching from Colosseum?

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⚙️ Tools & Resources

Solana Keychain v2, one audited signing interface for 14 backends
solana-keychain v2 puts 14 backends behind one interface in Rust, TypeScript, Python, and Go, and OtterSec audited all four implementations.

An interactive reference for how Solana works under the hood
You can read all of Solana's docs and still not see how the pieces fit together. SolRef explains the internals, from the transaction lifecycle and the TPU, banking, SVM, and AccountsDB pipeline to PoH, Turbine, local fee markets, and Firedancer.

A template engine for conditional, reusable Solana transactions
Ballista stores a multi-step transaction as an immutable template that reads live state, loops, branches, and checks results as it runs, and charges no protocol fee.

A tracker for how Solana's block schedulers build blocks
This site tracks Jito, JitoBAM, Harmonic, Rakurai, Raiku, and Vanilla on adoption, block fill, ordering, block time, revenue, and oracle updates.

💓 Ecosystem Pulse

💸 Rip Cars sells $350K of CARS to Colosseum in an OTC deal - Colosseum bought about 3.55 million CARS at $0.0987 each with no vesting or lockup, and all proceeds go to the treasury of the die-cast car collectibles platform.

💸 Solomon announces backing from Colosseum, Theia, DBA, and Anagram - The four firms hold SOLO, Solomon's ownership and governance token, which they bought through its ICO, market purchases, or OTC deals.

🌇 Google Cloud is shutting down Blockchain Node Engine and Blockchain RPC - Google is recommending that customers move to Quicknode and will delete any remaining RPC endpoints on the shutdown date.

🤝 Orca and Loopscale merge into Formation - Formation combines Orca's trading and liquidity with Loopscale's fixed-rate lending and vaults, and both apps keep running as before with existing positions, loans, and vault deposits unaffected.

💀 Dominion Market shuts down after a $2.75M exploit - Dominion's site says the exploit made continued operation "economically unsustainable". The shutdown leaves its recovery plan for affected token holders underfunded, and Dominion has made its X account private.

💸 Imperial raises a $1.5M seed round led by Foundation Capital - Imperial is a perps trading terminal on Solana, and its Armada product charges 1 bp in taker fees and settles trades on Solana's ledger.