Where Lore is Headed

This is Part One of a Three-part series:

• Where Lore Is Headed (this post)

• How We Got Here (next)

• And Why We’re So Bullish (final)

The Big Long

In November 2023, the five of us went all in on rebuilding Lore. We combined all our learnings from three years into a vision for what the world needed from Lore in 2025.

I joked with friends that Lore was “The Big Long,” inspired by my favorite movie, The Big Short.

It’s easy to dismiss The Big Short as a finance drama about middlemen profiting off the collapse of the American economy.

But to me, the story was about conviction in the face of great uncertainty.

The Crash

After the FTX crash in August 2022, Lore still had incredible PMF as a Platform for Collector DAOs. We were growing despite the market and on track to profitability. We kept believing (hoping) the NFT market would recover and stuck with the plan.

Nine months after FTX, our exponential product growth met the NFT market’s exponential decline in a standoff. By June 2023, we lost 80% of our users in 21 days.

To have product-market fit, pitch a growing network-effects-driven business, raise money from the best crypto funds (Multicoin and Polychain), and then have that rug pulled out underneath you was not a fun time. I felt betrayed by our users. I felt insecure that my reputation in the space was now under scrutiny. And I felt like a grifter raising money with so much conviction only to let down investors just 9 months in.

We had to reset, check our assumptions and refine our conviction.

Conviction

The team still believed the 10x superpowers Lore was built on — global capital formation, transparent fund management, and verifiable financial reputation. And we still believed in the broader trend of investing becoming social media native for the younger generation, across brokerage, advisory and asset management.

The product and the market — broadly — made sense. The specifics, required forensic work with the customers that stuck around.

The “DAOs” that stuck around

We noticed a pattern in the DAOs that were sticking around. They were long term believers in crypto, but not necessarily from an ideological standpoint but as an emergent asset class they can have an edge.

• The DAOs were led by one (occasionally two or three) Managers. The DAO ideology had faded. Active member participation was a cringe fad that had come and gone.

• Members were looking closer to Passive LPs in a hedge funds, demanding distributions and an established redemption process. Our Redemption feature was getting some serious mileage in.

• Managers were often making a fee through a monthly stipend or through our Sweat Equity feature.

• Of course they wanted to make money, but clout on public feeds and lore in the group chat motivated them more.

The DAOs were secretly next gen GL/LP funds, led by social media native Managers.

Niche managers covering niche opportunities were forming niche communities handling communications and operations directly with their friends and fans

Funds were a form of social leverage for Managers.

By using the financial capital from others, making bigger plays than they could alone, Managers had a chance of making generational wealth for not only themselves but their friends and fans — pocketing the social capital that came with it.

To embrace this new kind of “Bill Ackman” we needed to develop a view of what onchain finance and social media will look like over the next decade. And how Lore could shape that world.

The Big Bet

By Q4 2023, Solana memecoin mania made it abundantly obvious how we need to rearchitect the core Lore fund, wallet and portfolio tracking primitives and the infrastructure to support it.

There was a cambrian explosion of assets and asset classes. This was paired with the fragmentation of opportunities across thousands of protocols, dapps and hundreds of chains — EVM L2, L3s mostly. Simultaneously, VCs were funding more L1s.

IMO Crypto was entering a 5 year fragmentation cycle. So we wrote down a world view.

• Fragmentation is creating a long tail of financial opportunities leaving plenty of alpha.

• Alpha left on the table will always be farmed so a two sided marketplace of supply and demand for alpha will form.

• Supply Side: A rising class of micro Gen Z/Millennial “Bill Ackmans” from all over the world will use financial and social leverage in the form of Funds to create financial value for everyone involved and social capital for themselves.

• Demand Side: A rising class of Passive Investors who hear about onchain opportunities but do not have time to farm alpha themselves will seek Managed solutions.

To create that world we needed

• To build Infrastructure and core primitives for managed investment products that aggregates the onchain world

• Create a two sided platform for Passive Investors to discover Managers offering solutions to their FOMO

• Originate and facilitate capital flows by creating trust through a variety of hard and soft tactics: onchain trackrecords, social validation, crowdsourced reputation, AI rug protection, brand marketing, market leadership, etc.

That’s the Big Long

So we embarked on The Big Long — and spent over 12 months preparing for 2025 and beyond.

Long story short. The Big Long worked.

We will cover the prior three years of Lore and the other key insights that led to The Big Long in the How We Got Here post next week.

Everything we’ve built being glued together into a new Lore Network carrying four years of lore across —

Let’s fast forward to today and introduce Lore 2025.

Introducing Lore 2025: An Onchain Fund Platform

Where verified Managers create investment products for passive Investors on the new financial system, starting with Actively Managed Funds.

Lore is a two-sided platform connecting passive Investors to Managers.

Managers can offer a variety of investment products.

When I say, investment products — I mean User Generated Investment Products

User Generated Investment Products can be as simple as content (UGC) to managed investment products supercharged by internet capital formation, multiadmin wallets, 24/7 global markets and cheap mass transactions.

• Manager curated Lists of opportunities (coming next month)

• One-click Copy Trade (coming next month)

• ETFs (coming in Q3)

• Actively managed invite-only Funds (live!)

Lore is The Verified Capital Network

Beyond investment products, Lore is a community of people. It’s network of Investors, Traders and Managers. Joining forces, sharing opportunities, pooling capital peer-to-peer (P2P) in a new internet native Wall Street.

So. Big Vision…
How does Lore actually create a new internet native Wall Street on the new financial system.

Aggregate onchain through extensible infra

We aggregate onchain opportunities across chains, asset classes, and dapps. It's an amalgamation of data aggregation, token lists, dapp lists.

We make all of that accessible through the new Lore Wallet primitive we’ve built that’s multichain, single or multiadmin and can connect to any dapp.

t’s perfect both for Managers, creating Fund product and for Investors to access opportunities themselves.

Build discovery engine leveraging web3 identity

Investors build a unique profile by linking their wallets, and entering what they are looking for. We then direct Investors to user-generated products from verified Managers, reinforcing trust through onchain trackrecords and social validation.

Originate Peer-to-peer capital flows through trust

Verification and curation of the opportunities we highlight, across countless chains asset classes and dapps is hard part. But we believe AI + incentivized community crowdsourcing is the answer.

Managers will be backed by onchain trackrecords and web2 and web3 socials. It’s an excellent start but it doesn’t 100% prevent manipulation or malicious behavior. Our system flags potential rug pulls.

Users can rate managers and their products — much like Airbnb hosts, forming crowdsourced reputation on and off of Lore.

Grow the network together through profit share incentives

Underdiscussed, but important. Crypto excels at micropayments at scale. Using this superpower we want to create a world where reputable users can grow the Lore Capital Network by inviting friends to earn fee splits for life.

We plan on extending invite privileges to only the most reputable users so our community is grown in the right way. We’re committed to splitting 50% of Platform Revenue with the users that made Lore happen.

Built on our new stack

This is all powered by the new core technology stack when we made The Big Long. We’ll cover all this is more detail in the second blog post in this series: How We Got Here.

What’s next? (Roadmap)

I want to tell you the 3 to 5 year plan, product by product, feature by feature even. But realistically, I’ve learned that its better to establish.

• the 6 month plan with precision

• the 18 month plan in broad strokes

• and the 5 + year vision with clarity on our world view and our role in shaping it

The murky part is always what happens from 18 months to the end state.

No one knows what’s going to happen that far out. But we need to rely on our values to guide us towards the vision.

See our full roadmap here ↗️

📣 Manager Referral Leaderboard - May 2025

👤 Multiwallet Profiles - May 2025

✉️ Email Portfolio Alerts - May 2025

⭐️ Profile Highlights of big wins - June 2025

🛍️ Curated token lists to batch but - June 2025

📣 Invite friends, get fee splits - June 2025

🎁 Claim Fee Splits Page - July 2025

➕ Friend Requests - July 2025

🛒 One-click Copy Trade others - August 2025

🔁 Smoother Redemptions - August 2025

🏆 Weekly Trading Contest - September 2025

✈️ Telegram Alerts - Q4 2025

🧩 Chrome Extension to connect to dapps - Q4 2025

⭐️ Crowdsourced ratings engine - Q4 2025

🍎 iOS App w/ notifications with Apple Pay - Q1 2026

🛡️ Trust Engines to connect and protect - Q1 2026

Lore 5 years out —

The goal is to OutFidelity Fidelity. Make more investment products than BlackRock. And create a larger capital network than eToro.

To get the 99% a seat at the table. Through a community capital network.

Creating Trust is Our North Star Value

Our goal is to be the trusted platform for the new age of managers, investors, and investment products.

Why is trust the most important thing? I’ll let TK from Uber explain.

Trust is how unconventional behaviors — like getting in a stranger’s car or giving a stranger money to invest — go from strange to normal.

Trust takes market leadership.

It means showing incumbents why this future matters — and how it can be better than the alternative despite the known and unknown risks along the way

It takes grit and time. Just look at how Coinbase was the white knight in the face of negative media sentiment, volatility, and scams. They legitimized every business they get into from bitcoin to crypto finance to onchain finance. That’s market leadership.

The world is inherently resistant to change.
Humans are inherently resistant to change.

Building trust makes users more willing to share — turning a shift in consumer psychology into a movement.

Trust is how you shape the world around you.

The Unexpected Regime Shift

Gensler’s out. Crypto-native voices like Hester Peirce are finally getting airtime. For the first time in years, it feels like America might actually build the new financial system instead of banning it.

A digital-first path to regulation may also be slowly opening up for crypto technology platforms institutions that act as a peer-to-peer capital facilitator to be taken legitimately with more code and less paper.

• Entity formation is becoming programmable: Legal wrappers like Master Series LLCs are already on-chain. Check out otoco, which worked off the standards R&D'ed byLexDAO in the past bear market.

• Portable financial identity meets decentralized compliance 

  • Wyre’s attempt to form a consortium of institutions printing verifiable yet private KYC/AML status on an on-chain Passport was an “early but right” approach — in my opinion.

  • Coinbase Onchain Verify, which attests that you are a bona fide KYC/AML’d Coinbase Exchange user, has been taking market leadership recently.

  • A consortium of institutions around Coinbase that prints a mosaic of onchain financial identity attestations could drastically grow the GDP of financial services through legitimacy and portability.

• AI fraud detection and AML is getting scary good thanks to Chainalysis and Blockade.

I personally place this outcome to be of high probability. Because the new regime seems to realize something big: If we securitize and distribute regulated U.S. assets on digital rails, we could multiply the GDP of our financial sector.

Stablecoins, doing 2x the settlement of Visa network now and growing at a 60% CAGR, are the leading indicator. They’re already strengthening the Dollar’s position as the reserve currency of the world.

So what’s next? And what do you want to do about it?

I have one final question for you: How will you be part of the lore behind Lore?

Because we do need you.

Together could we outFidelity Fidelity? Make more investment products than BlackRock? Create a larger capital network than eToro?

There’s only one way to find out.

Learn more about the Lore movement → lore.xyz

• Managers → Apply to become a Manager

• Investors → Create your Investor Profile, Join a Fund

• Communities and Group Chats → DM @tomscaria to get early access for your whole chat.

• Protocols, Tokens, Dapps and Chains → DM @tomscaria or @loredotxyz to partner.

Additional links:

• Hop into the product: lore.xyz

• Join our telegram channel for alpha: t.me/lorexyz

• Learn more with the docs: intercom.help/loresupport

• Follow us on X: x.com/loredotxyz

• Subscribe to our newsletter: https://loredotxyz.beehiiv.com/subscribe