
Validated
Austin Federa
Show overview
Validated has been publishing since 2019, and across the 7 years since has built a catalogue of 173 episodes. That works out to roughly 130 hours of audio in total. Releases follow a fortnightly cadence.
Episodes typically run thirty-five to sixty minutes — most land between 39 min and 52 min — and the run-time is fairly consistent across the catalogue. It is catalogued as a EN-language Technology show.
The show is actively publishing — the most recent episode landed 1 weeks ago, with 7 episodes already out so far this year. The busiest year was 2023, with 40 episodes published. Published by Austin Federa.
From the publisher
When it comes to blockchain, the thing people talk about most — the price — is actually the least interesting part. Crypto conversations are too often about who’s up and who’s down, what to buy and what to sell, and today’s drama on Twitter. Most conversations about crypto miss how it’s going to change ... everything. On VALIDATED, we’ll be talking to the people who are rethinking the internet — and our world. No hype cycles. No financial advice. Just conversations on the biggest ideas shaping the future of the internet. Web3 is complicated, but never boring.
Latest Episodes
View all 173 episodesSolana Mobile's Vision Beyond Seeker with Emmett Hollyer (Solana Mobile)
Crypto's Market Making Arms Race with Rahul Jain (Ellipsis Labs)
The Constellation Debate Part 2, with Brennan Watt (Anza)
The Constellation Debate, Part 1 with Ben Coverston (Temporal)
Ep 87MegaETH Mainnet and the Real-Time ZK Endgame w/ Lei Yang
In this episode, we sit down with the team behind MegaETH to discuss the launch of their mainnet and the vision for a new generation of high-performance Layer 2 blockchains. We explore how MegaETH is pushing block times into the millisecond range, what that means for onchain markets, and why ultra-low latency could fundamentally change blockspace auctions and transaction ordering. The conversation also covers token utility, sequencer incentives, fraud proof security, and why the long-term endgame for rollups is real-time ZK proving. We also dive into the practical challenges of building high-performance crypto infrastructure — from co-location and distributed RPC networks to designing an ecosystem that can actually take advantage of that speed. To learn more about MegaETH, check out: https://www.megaeth.com/ https://rabbithole.megaeth.com/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Ep 86How Shelby Makes Decentralized Storage Faster and Cheaper w/ Pranav Raval
In this episode, Austin chats with Pranav Raval (Aptos Labs) about Shelby, a new decentralized storage protocol designed to address the performance and cost limitations of earlier decentralized storage systems. The conversation dives into Shelby’s architecture and market opportunities. Unlike previous systems that rely on unreliable “spare capacity” nodes, Shelby uses professionally operated data centers, erasure coding for reliability, and incentives for fast data retrieval. This design enables new use cases beyond simple file storage, including verifiable advertising analytics, IP-protected generative media, AI data marketplaces, and distributed AI inference at the network edge. Pranav explains how Shelby can position itself as infrastructure for data-intensive applications—especially those driven by AI—while offering an alternative to the expensive egress fees and regional data silos of traditional cloud providers. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Ep 85How Wyoming Built the First State-Issued Stablecoin w/ Anthony Apollo
In this episode, Austin talks with Anthony, Executive Director of Wyoming’s Stable Token Commission, about how Wyoming became the first U.S. state to issue its own government-backed stablecoin. They discuss the state’s decade-long push into crypto policy, why Wyoming chose to operate digital financial infrastructure instead of just regulating it, and how the Frontier Stable Token is designed to be fully backed, legally neutral, and usable for any lawful purpose. The conversation covers constitutional safeguards around privacy and due process, how reserves generate public revenue, and why a small, agile state may be uniquely positioned to experiment with on-chain money—offering a glimpse into what the future of state finance could look like. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Inversion's Vision for Real-World Crypto w/ Santiago Roel Santos
In this episode, Austin chats with Santiago Roel Santos, founder of Inversion, discussing why crypto has struggled to reach mainstream adoption and what it will take to change that. Santiago explains how Inversion applies a private-equity-style model to deploy capital into real-world use cases, rather than chasing speculative cycles. He outlines why stablecoins are emerging as crypto’s strongest product-market fit, what infrastructure still needs to mature, and how regulatory clarity is shaping global distribution. The conversation also covers chain selection, the limits of “casino onboarding,” and why genuine adoption depends on building products that solve practical problems for people and businesses. 00:00 - Understanding Inversion and Its Origins 07:18 - Crypto's Consumer to Enterprise Shift 12:59 - Interoperability and Choosing the Right Blockchain 17:16 - Private Equity in a High Interest Rate Environment 20:16 - Distribution vs. Product in Crypto 25:50 - The Future of Crypto and Stablecoins33:19 - Global Economic Power and Technology 35:51 - Crypto's Impact on Corporate Structures 40:32 - Tokenized Stocks and Market Access 48:02 - Advice for Founders in the Crypto Space Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Maple's Model for Institutional Lending w/ Sid Powell
In this episode, Austin chats with Sid Powell, co-founder and CEO of Maple Finance, to explore how institutional credit is moving on-chain. Sid breaks down how Maple has facilitated over $5 billion in loans, how it manages risk and transparency in a post–Celsius world, and what’s next for tokenized private credit. We also discuss stablecoins, regulation, and how crypto finance is maturing for the long term.00:00 - Understanding Maple Finance 02:03 - Comparing Maple to Celsius 09:39 - Institutional Clientele 16:42 - Maple's Navigation of Different Blockchain Ecosystems 22:58 - The Case for Vertical Integration 23:57 - Challenges in Financial Services25:12 - Crypto's Overall Growth 26:49 - The Future of Banking and Crypto Adoption 30:57 - Stablecoins and Cross-Border Payments 38:21 - Automation and Efficiency in Crypto Lending 44:00 - Conclusion Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Kevin Bowers on the True Costs of Scaling Crypto
In this episode, Kevin Bowers returns to explain Jump's expansion from trading to core infrastructure, centered on what he calls the "great inversion": the real bottleneck in tech isn't compute, but data and I/O. He introduces Shelby, a new storage network, as a direct challenge to the "Hotel California for Data" model used by cloud providers. This same focus on efficient data flow—not just processing power—was the key to scaling Solana with Fire Dancer. Finally, Kevin explains how FPGAs from high-frequency trading are the critical hardware solution, allowing blockchains to bypass software's inefficient "Tower of Babel" and "get close to the wire" for true high performance. 00:00 - Expanding Beyond Trading and the Vision for Shelby 02:31 - Challenges in Storage and Data Management 04:37 - Building High-Performance Systems 08:04 - The Evolution of Jump's Technology 11:55 - The Economics of Cloud Storage 29:07 - Fire Dancer and Frankendancer 42:03 - The Cost of Optimization 42:48 - Machine Learning and Custom Networks 43:47 - Project Prioritization and Entropy 46:48 - Challenges in High-Performance Computing 56:38 - The Role of FPGAs in Trading and Blockchain 01:13:45 - Future of Hardware Acceleration in Blockchain 01:18:54 -Conclusion and Final Thoughts Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
How Marinade Went from Hackathon OG's to Wall Street w/ Michael Repetny
In this episode, Austin chats with Michael Repetny, a core contributor to Marinade. They discuss the history and technical details of Marinade, its role in the Solana ecosystem, and its approach to staking. Michael covers Marinade's origins in a 2021 hackathon, the development of its custom stake pool contract, and its early competition with Lido. The conversation addresses the evolution of validator economics on Solana, the impact of MEV and priority fees, and Marinade's response to sandwich attacks. They also discuss the protocol's products, including its liquid staking token (mSOL) and Marinade Native, a non-custodial delegation service. The episode concludes with a discussion on preparing for institutional adoption, the role of LSTs in ETFs, and the process of getting SOC 2 compliance. 00:00 – Marinade’s Origins and Early Days03:11 – Building on Solana07:09 – Competing with Lido and the Importance of Community10:59 – The Changing Economics of Staking14:45 – Stake Pools, Yield, and Market Transparency19:17 – The Marinade Marketplace23:21 – Protected Staking Rewards & Validator Bonds27:19 – Marinade Native32:18 – ETFs, Institutions, and the Future of Staking38:34 – Security, Compliance, and SOC 2 in Crypto43:59 – The Future of Marinade and Solana Staking46:59 – How to Get Involved with Marinade & Closing Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Ep 84Prop AMMs, MEV, and the Realities of Solana's Roadmap w/ Connor (Temporal) and Brennan Watt (Anza)
DISCLAIMER The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Reinventing Onchain Order Books on Solana w/ Tristan Frezza (Bullet)
In this episode, Austin chats with Tristan (Bullet) to discuss the significant evolution of decentralized finance (DeFi), particularly focusing on the re-emergence of Central Limit Order Books (CLOBs) and the innovative development of Bullet on Solana. Tristan dives into the history of order books, their challenges in the DeFi space, and the technological advancements that are now overcoming these obstacles. They explore the unique position Bullet occupies in the Solana ecosystem, advancements in smart contract programming, the importance of co-location for trading efficiency, and the promise of ZK proofs for verifiable off-chain compute. Additionally, they cover how Bullet seeks to provide superior user experience without compromising on performance, aiming to compete with centralized exchanges while leveraging the transparency and security of blockchain technology00:00 - The Return of CLOBs to DeFI 01:43 - Challenges of On-Chain Order Books03:42 - Innovations in DeFi and Solana's Role 08:30 - How Zeta Became Bullet 11:39 - Decentralization vs. Performance 15:04 - Exploring Different Models for Order Books 23:24 - Challenges in Centralized and Decentralized Trading 24:15 - Solana's Trading Model and Its Impact 25:52 - Pitching to Professional Traders 26:37 - Technical Aspects and Integration 28:25 - Market Dynamics and Maker Strategies 31:39 - Performance Metrics and Optimization 36:48 - Data Access and Fairness in Trading 40:34 - Upcoming Developments and Testnet 42:30 - Conclusion Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
An Investor's Evolving Thesis of a Maturing Market w/ Jon Charbonneau (DBA)
DBA co-founder John Charbonneau discusses his journey from TradFi to crypto, detailing his evolution from an Ethereum maximalist to a multi-chain pragmatist. He argues that as the crypto market matures beyond hype cycles, real revenue and cash flow are becoming key valuation metrics. He points to Hyperliquid's controversial rise as a prime example of the industry's struggle with decentralization, noting the irony of Solana advocates lodging critiques once used against them. Looking ahead, Charbonneau predicts successful protocols will adopt traditional functions like customer support and investor relations, viewing regulatory clarity as vital for the industry's future health and transparency. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Ep 83What Makes Jupiter the Most Web 2 Team in Web3 (in a Good Way) w/ Kash Dhanda
In this episode, Kash Dhanda of Jupiter shares his crypto career journey and his unique role blending content creation with product strategy. He delves into Jupiter's unconventional organizational structure, explaining how it fuels their rapid product development and acquisition strategy. Kash highlights the reasoning behind key initiatives such as the Drip House acquisition and Jupiter Lend, underscoring their commitment to long-term growth. The conversation also addresses the challenges of serving a diverse user base, from crypto novices to seasoned traders, and Jupiter's dedication to community support.DISCLAIMER The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
A Decade on the Frontlines of Crypto Policy w/ Peter Van Valkenburgh
In this episode, Austin and Peter Van Valkenburgh Coin Center's mission and the critical role of educating policymakers. The discussion spans over Coin Center's inception, its efforts in shaping sound crypto regulations, and its battles against adverse policies. Peter sheds light on Coin Center's ongoing lawsuits, the implications of recent DOJ guidance, and the controversy surrounding meme coins in American politics. Peter also provides insights into future challenges and opportunities in crypto regulation, emphasizing the vital importance of nuanced policies that balance innovation with oversight. Whether you're a crypto enthusiast, policymaker, or just curious about the intersections of technology and regulation, this episode offers valuable perspectives. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Self-Custody. No Seed Phrase. w/ Ouriel Ohayon (Zengo)
In this episode, Austin chats with Ouriel Ohayon (Zengo) about the evolving landscape of crypto wallets and wallet security. The conversation dives into the history and challenges of crypto custody solutions, from the problems with centralized custodians and self-custody methods to the sophistication of hacking groups. Ouriel discusses how Zengo is tackling these issues with their MPC wallets where there's "nothing to give away". He provides insights on the unique security features of Zengo, such as its passwordless experience, recovery protocols, theft protection, and physical attack safeguards. The episode also explores the business model of crypto wallets and how they can generate revenue while maintaining user experience and security. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
A Hardware-Accelerated Sidechain for Scaling Solana w/ Chaofan Shou (Solayer)
In this episode of Validated, host Austin talks with Chaofan Shou about building Solayer, high-performance side chain for Solana. Chaofan describes the specifics of Solayer's hybrid model, which sits between a traditional Layer 1 and Layer 2, offering faster execution environments for market makers and reducing high priority fees. They get into its technical architecture, including the use of specialized hardware like FPGA and SDN for optimized transaction processing and state management. The conversation also touches on their plans for ecosystem development, particularly within the DeFi and gaming sectors, and addresses the balance between scalability and decentralization. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Engineering Agave for Solana's Next Chapter w/ Brennan Watt (Anza)
In this episode, Austin speaks with Brennan Watt, VP of Core Engineering at Anza, about the evolution of Solana’s validator clients. The conversation centers on Agave, originally developed at Solana Labs and now, by Anza. Brennan offers perspective on the critical role validator clients play in overall network performance, recounting challenges encountered in 2022 and 2023 and the improvements that have shaped the current landscape. They dive deep on topics such as memory allocation optimizations, the development of the Agave scheduler, and the broader movement toward a multi-client ecosystem. 00:00 - Anza's Origin and Early Challenges with Solana 07:47 - Technical Debt and Development Philosophy 12:58 - Scheduler Innovations and Performance Enhancements 18:19 - Modular Codebase and Future Improvements 22:36 - Governance and Protocol Changes 24:50 - CU Limits and Performance 32:08 - Validator Client Collaboration 35:54 - Future Performance Goals 41:25 - Final Thoughts DISCLAIMER The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
How MegaETH's Node Specialization Enables Real-Time Applications w/ Lei Yang (MegaLabs)
In this episode, Austin sits down with Lei Yang of MegaLabs to explore the architecture behind MegaETH and its unique approach to enabling real-time blockchain applications. By specializing node roles and optimizing for high-frequency transactions, MegaETH tackles technical challenges like network latency and state propagation head-on. The conversation also delves into data flow models and the practical implementation of a scalable, high-performance Ethereum Layer 2 solution—designed to outperform the speed limitations of traditional finance systems. DISCLAIMER The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.