Key Takeaways
- • Balaji Srinivasan's Network School acquired decentralized social network Farcaster from Neynar for undisclosed terms, according to The Block, marking the platform's second ownership change this year.
- • Farcaster will be rebranded as the Network State Protocol, introducing an opt-in social contract, planned human verification, and a focus on forming physical communities.
- • Neynar co-founders Rish and Manan are departing, while other Neynar employees will join Network School to continue development; the fate of token launchpad Clanker was not specified.
- • Multiliquid developer Uniform Labs raised $8 million across pre-seed and seed rounds, with Polychain leading the seed, according to The Block.
- • Multiliquid's platform settles atomic conversions between tokenized assets and stablecoins on Ethereum and Solana at net asset value, supporting assets from Wellington Management, VanEck, Janus Henderson and Fasanara.
Summary
Balaji Srinivasan's Network School has acquired Farcaster, the decentralized social network, from Neynar, according to The Block. Financial terms were not disclosed. The transfer covers the app, protocol repositories and related products, according to Neynar co-founder Rish. The deal is Farcaster's second ownership change this year, following Neynar's acquisition of the platform from original developer Merkle Manufactory in January. Neynar considered several other offers before agreeing to the sale. Rish and co-founder Manan will move on from the company, while other Neynar employees will join Network School to continue development.
An in-app announcement states that Farcaster will become the Network State Protocol, a initiative aimed at turning online groups into physical communities. Users who accept a new social contract will receive an access NFT confirming their choice onchain. Users who decline will retain read-only access through the main app, with their keys, funds, followers and post history moved to another client. The app plans AI-based moderation and gradual human verification to curb bots. Neynar's January acquisition also included the token launchpad Clanker, but the transfer announcement did not specify its future.
Separately, according to The Block, Uniform Labs, the developer of tokenized asset settlement platform Multiliquid, has raised $8 million across pre-seed and seed rounds. Polychain led the seed, joined by Strobe Ventures, CMT Digital, Metalayer Ventures, Generative Ventures and Circle Ventures. Founder and CEO Will Beeson said the pre-seed was raised through a SAFE between May and June 2025, followed by a priced equity seed round between April and June 2026. He declined to disclose the valuation or the split between rounds.
Multiliquid is live on Ethereum and Solana and enables conversions between tokenized assets and stablecoins in a single atomic transaction at net asset value, according to the company. It supports assets from Wellington Management, VanEck, Janus Henderson and Fasanara, alongside stablecoins including USDC. The non-custodial platform enforces issuer-defined transfer restrictions and compliance rules at settlement. Beeson said the company is handling initial pilot transactions and adding liquidity providers during the fourth quarter, without disclosing volumes or client counts. Proceeds will fund protocol engineering, liquidity and trading venue partnerships, and integrations with additional tokenized cash and Treasury products. The five-person company is hiring engineers and institutional business development staff through early 2027.
An in-app announcement states that Farcaster will become the Network State Protocol, a initiative aimed at turning online groups into physical communities. Users who accept a new social contract will receive an access NFT confirming their choice onchain. Users who decline will retain read-only access through the main app, with their keys, funds, followers and post history moved to another client. The app plans AI-based moderation and gradual human verification to curb bots. Neynar's January acquisition also included the token launchpad Clanker, but the transfer announcement did not specify its future.
Separately, according to The Block, Uniform Labs, the developer of tokenized asset settlement platform Multiliquid, has raised $8 million across pre-seed and seed rounds. Polychain led the seed, joined by Strobe Ventures, CMT Digital, Metalayer Ventures, Generative Ventures and Circle Ventures. Founder and CEO Will Beeson said the pre-seed was raised through a SAFE between May and June 2025, followed by a priced equity seed round between April and June 2026. He declined to disclose the valuation or the split between rounds.
Multiliquid is live on Ethereum and Solana and enables conversions between tokenized assets and stablecoins in a single atomic transaction at net asset value, according to the company. It supports assets from Wellington Management, VanEck, Janus Henderson and Fasanara, alongside stablecoins including USDC. The non-custodial platform enforces issuer-defined transfer restrictions and compliance rules at settlement. Beeson said the company is handling initial pilot transactions and adding liquidity providers during the fourth quarter, without disclosing volumes or client counts. Proceeds will fund protocol engineering, liquidity and trading venue partnerships, and integrations with additional tokenized cash and Treasury products. The five-person company is hiring engineers and institutional business development staff through early 2027.
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