Two Solana Small Caps With Real Products: Rainmaker ($RAIN) and perpspad ($PERPSPAD) Through a Mycelium Lens

Chioma Francis — Tue, 27 Oct 2026 16:54:21 +0000

AI-created for a @myceliumfinance bounty. Independent research, not affiliated with any project named here. Not investment advice.

Why I went looking

The Mycelium Strategy links selected Solana projects through liquidity pools. $MYC is paired with partner tokens, more than 84% of tradable $MYC sits in those pools, and trading fees pay for new connections. On 27 Oct 2026 its allocation feed showed $33,010.90 spread across ten pools: KNOTS, PRCL, GABLE, SOL, KINS, DREAMS, GUAC, STREAM, JUBJUB and USDC. So the question is which small Solana projects could become the next connection: a liquidity pair, a collaboration, or a holding.

I screened about 320 Solana tokens on CoinGecko under $1M market cap with $10K+ volume. Most were tokenized stocks, fan tokens or memes, so I checked the remaining product tokens against every filter below. Two qualified with a margin I trust. A third, AgenC, passed but I left it out (see the end). Two well-evidenced picks beat a padded three.

Selection criteria

On Solana
Circulating market cap under $1M when researched (CoinGecko)
A working product people can use today
Not a meme token
Trading for at least 60 days
At least $10,000 of trading volume in the last 24h
At least $50,000 of DEX liquidity across verified pools, with no pool counted twice
A product update, development work or substantive team post in the last 30 days
Not already in the Mycelium Strategy, and not SOL, USDC, USDT, MYC or ESF

Comparison (snapshot 27 Oct 2026, 13:41–14:03 UTC)

	Rainmaker $RAIN	perpspad $PERPSPAD
Circulating MC (CoinGecko)	$658.9K	$668.8K
24h volume (CoinGecko)	$17.3K	$24.6K
DEX liquidity (DexScreener)	$76.3K (2 pools; PumpSwap $74.8K)	$126.8K (7 pools; Meteora DAMM v2 $102.9K)
Trading since	26 Dec 2025 (305 days)	6 Jul 2026 (113 days)
Latest activity	22 Oct: "Swish!" NBA model	25 Oct: tokenized AMZN pairing
Top-10 holders (LP excluded)	13.7%	24.9%
Main-pool LP	100% locked (Rugcheck)	100% locked (Rugcheck)
Mint / freeze authority	Revoked / revoked	Revoked / revoked
Holders (Rugcheck)	4,085	12,310

Rainmaker ($RAIN): AI sports trading on Polymarket

Facts. Rainmaker runs AI models that trade sports markets on Polymarket from the user's own wallet. You sign up with an email and fund from $20. Its results are posted publicly and link to settled Polymarket markets: the homepage logs the tennis model, Backspin+, and the track-record page logs an MLB model at 38–17 since 1 June. On 22 Oct it launched "Swish!", an NBA model. On 21 Oct it moved to a subscription ($150/month, then $199) and called it "pre-paid trading fees". The site says holding $RAIN lowers fees, gives priority fills when a signal is crowded, boosts referral payouts and unlocks up to 10x leverage. No team allocation or vesting is published; the creator wallet holds nothing and CoinGecko counts the full 1B supply as circulating.

Why it stands out. A consumer product with a clear job and checkable results, losses included. Holders are unusually spread out: the ten largest non-pool wallets hold 13.7%.

Main risk. It is not clear how $RAIN fits next to the new subscription. If a subscription already covers fees, the fee discount may matter less. Sports prediction markets also face rules that differ by country. $RAIN also hit its all-time low on snapshot day, about 95% below February's high.

Best role: holding (watch-list). The case is simple: if subscribers who trade heavily buy $RAIN for lower fees and priority, demand follows usage. That only holds once Rainmaker confirms how the token works under the subscription. Until then, I would not back a MYC liquidity pair.

perpspad ($PERPSPAD): a launchpad where every coin is backed by a live perp

Facts. perpspad launches Solana coins on Meteora. Each coin's trading fees fund a leveraged perpetual position on Phoenix, and the profits buy back and burn supply or pay holders. Its whitepaper (v1.2, September 2026) says liquidity migrates into permanently locked pools. Every coin's fees send 15% to a shared treasury, and "every trade on every perpspad coin tightens $PERPSPAD supply." The chain backs up the burn claim. Supply was fixed at 1B at launch and is now 733.8M, so about 26.6% has been burned. Recent activity: a Meteora builder spotlight on 23 Oct named perpspad a demo-day winner, and a new AMZN pairing went live on 25 Oct.

Why it stands out. On-chain mechanics give launchpad coins a reason to exist after launch, and the platform token takes in fees from every coin.

Main risk. The backing is leveraged, so positions can be liquidated, as the whitepaper says itself. A single keeper process also runs the whole system. The whitepaper still lists the master treasury address as "published at mainnet launch", and I could not find it. Rugcheck flags mutable metadata, two of the top-10 wallets could not be identified, and the price is about 93% below its 13 Sep high.

Best role: collaboration, then a possible liquidity pair. The whitepaper says creators can quote a coin in "almost any Solana token", with tokens the bonding curve can't take falling back to a DAMM v2 pool. A concrete test: a MYC-quoted perpspad launch, so that launch liquidity forms new MYC pairs. That matches what Mycelium is built to do. I have not verified whether $MYC, a Token-2022 mint, passes perpspad's quote-token checks. A direct MYC/PERPSPAD pool comes after that: it ties Mycelium to a token with a working burn, but also to a leveraged system with real liquidation risk.

The one I left out

AgenC ($AGENC) has a live agent marketplace on mainnet and shipped Core 0.19 in October. But one wallet holds 39% of supply, its market cap was within 8% of the $1M cap, and the protocol pays agents in SOL without a documented role for the token. It is worth watching, not allocating to.

Bottom line

These are proposals, not existing partnerships or commitments by Mycelium. My read: perpspad fits more naturally, because its pairing feature already works like Mycelium's liquidity connections. Rainmaker has the cleaner holder base, but its token story needs one clear answer from the team.

Discuss these findings and the Mycelium Strategy: https://discord.gg/5M7FsQcGq

AI-created for a @myceliumfinance bounty.

Sources

Mycelium: https://www.myceliumfinance.com · MCP get_mycelium_allocation (https://www.myceliumfinance.com/api/mcp), updated 27 Oct 2026 14:41 WAT
Rainmaker: https://rainmaker.fun · https://x.com/rainmakerdotfun · mint 3iC63FgnB7EhcPaiSaC51UkVweeBDkqu17SaRyy2pump
- Market: https://www.coingecko.com/en/coins/rainmaker · https://dexscreener.com/solana/69AU8DkW4XxrzA6hoSi4fibMYKjt6Uefo9o4cRUS4vne · https://birdeye.so/token/3iC63FgnB7EhcPaiSaC51UkVweeBDkqu17SaRyy2pump?chain=solana
- Safety: https://rugcheck.xyz/tokens/3iC63FgnB7EhcPaiSaC51UkVweeBDkqu17SaRyy2pump · https://solscan.io/token/3iC63FgnB7EhcPaiSaC51UkVweeBDkqu17SaRyy2pump
perpspad: https://perpspad.fun · https://perpspad.fun/paper · https://x.com/perpspadfun · mint PerPsCe2SJ7Q25CN4R5TTX4fmBdmknE2hQmqCt96fHL
- Market: https://www.coingecko.com/en/coins/perpspad · https://dexscreener.com/solana/84uf4YpzybB4vm8RsermBFqjGxThAETpyMbp5HvkVRJQ · https://birdeye.so/token/PerPsCe2SJ7Q25CN4R5TTX4fmBdmknE2hQmqCt96fHL?chain=solana
- Safety: https://rugcheck.xyz/tokens/PerPsCe2SJ7Q25CN4R5TTX4fmBdmknE2hQmqCt96fHL · https://solscan.io/token/PerPsCe2SJ7Q25CN4R5TTX4fmBdmknE2hQmqCt96fHL

Holder calculation. Top-10 shares are of current supply, taken from each Rugcheck report's holder list. I checked owner programs with Solana RPC getMultipleAccounts and matched pool vaults to Rugcheck's market data. Excluded as liquidity pools: $RAIN Gpum8dkbKTXhwN9jk7LUch7BXjS7LTxZFwiu4J7jQ5p2 (PumpSwap vault, 5.69%). $PERPSPAD 5H7CRcneLziuJkxKkmjW8PVhJd3pHR4U7eujNd7LbQtP (Meteora DAMM v2 vault, 7.71%) and 668VLAgH5ZhUVG9iqJUfSkotMc5HxtxNjTja6YLK4iQ5 (Orca Whirlpool vault, 1.98%). No burn address appears in either top 20, because burns reduce supply instead of sitting in a wallet. Liquidity: each main pool is 100% locked per Rugcheck; the smaller Orca and DLMM positions are unlocked. Mint and freeze authority come back null for both tokens in Solana RPC getAccountInfo.

Kintara at Five Months: What $KINS Unlocks Today, and What Is Still Coming

Chioma Francis — Sun, 25 Oct 2026 16:29:38 +0000

AI-created for a Mycelium Finance bounty. Independent analysis, not affiliated with Kintara. Nothing here is investment advice.

What Kintara is

Kintara is a browser-based isometric MMO on Solana. Its docs describe a tile-map world where you gather wood, stone, coal and fish, fight monsters, complete quests and trade with other players. There is nothing to download. The official X account, @PlayKintara, lists the same $KINS mint in its bio as the game's own site config: Tqj8yFmagrg7oorpQkVGYR52r96RFTamvWfth9bpump. Kintara opened on 22 May 2026.

It is aimed at players who like slow, skill-grinding RPGs and want the items they earn to be tradable, plus Solana users curious about a token with a clear in-game job.

What is live

Free to start. Since update v5.9 (29 Aug 2026) anyone can play to total level 10, and you can log in with email, Google, Discord or X as well as a wallet.
The token gate. Holding 1,000 $KINS opens the paid realms and lifts the level cap. Keeping that balance for 24 hours unlocks trading, marketplace selling and guild-bank deposits (docs). At CoinGecko's price on 25 Oct 2026, 16:11 UTC ($0.0003157), 1,000 $KINS was worth about $0.32 (CoinGecko).
Holder tiers. Since v5.8 (12 Aug), larger balances add XP boosts of +1% to +4% and perks such as an extra inventory row at 50,000 $KINS.
Token sinks. Paid spinner spins cost $5 worth of $KINS, with 50% burned and 50% sent to the treasury. Gold-for-$KINS marketplace sales send 5% to the treasury (docs).
Steady shipping. The official feed lists 33 server updates between 13 May and 14 Sep. Season 2, "The Reaping", started on 20 Oct, and a Halloween event runs until 2 Nov.
Players. On 25 Oct at 16:11 UTC, the site's stats feed showed 406 players online and 69,584 accounts ever registered (kintara.com/api/site/stats).

What is planned

Kintara does not publish a dated roadmap. The closest thing is a 23 Oct "What's next" post promising tools that pay off, daily goals and streaks, cooking buffs and Frostmere. "Further out" it lists a new realm, a new skill and a higher level cap. None of these carry dates.

Tokenomics on-chain

$KINS launched on Pump.fun. The supply is 991.69M out of an original 1B (Solana RPC getTokenSupply; CoinGecko). Rugcheck shows the mint and freeze authorities revoked, metadata immutable, 90.5% of LP locked and 60,090 holders. The main PumpSwap pool held $90.8K of liquidity against a $312K market cap (DexScreener, 25 Oct, 16:10 UTC). No team allocation or vesting schedule is published.

One promising aspect

Kintara gives its token a working job inside a game that already runs. The free tier lets newcomers try the game before they buy anything. The 1,000 $KINS gate then turns committed players into holders, and burns and fees give the token somewhere to go.

One open question

Update v6.0 (14 Sep) added an in-game "$KINS custody layer": you deposit tokens and can wager them in minigames and five casino games. I could not find a published audit of that custody or wagering system, or any statement of which jurisdictions it serves. Market context also matters. CoinGecko showed $KINS down 74% over 30 days and about 98.6% below its 4 July all-time high of $0.02198 (25 Oct, 16:11 UTC).

Kintara and the Mycelium Strategy

Kintara is one of the projects in the Mycelium Strategy, which pairs $MYC liquidity with selected Solana tokens. On 25 Oct at 16:10 UTC, its MYC/KINS Raydium pool held $2,815.81, 9.0% of the Strategy's $31,230.68 total (Mycelium allocation API). Learn more at myceliumfinance.com.

AI-created for a Mycelium Finance bounty.