Salmon Wallet · Investor deck
Your wallet should not decide what you need
The modular wallet for Solana, open source, self-custodial, that stays easy: users add only the services they need as Powerups.
Live with early adoption.
This raise scales distribution.
Raise on Backable · November 30 to December 6, 2026
01 · The answer
Answer first, then three reasons
Salmon is live with early adoption; this raise scales distribution
USD 150K to USD 300K · USD 15K a month · 8 to 16 months of runway
I · Built
The product is live.
- 3 platforms live, a 4th submitted · 3 Powerups · 1 validator
- Open source, tagged so in Solana’s wallet directory
- 3,100+ users
- 4 projects asking to publish theirs
II · Plan
Capital becomes evidence by May 2027.
- 6 dated milestones
- 3 metrics fixed in advance
- 4 user sources, one hands-on team
- Monthly reports to backers
III · Terms
Backers come before the team.
- No revenue assumed
- 18-month cliff, price-gated unlocks
- Futarchy vote above the monthly limit
- The DAO holds the wallet
02 · Why · Problem
Less imposed complexity
Solana wallets have become all-in-one apps, and the cost falls on the users arriving now
- Open any leading Solana wallet. Swaps, perps, predictions, gachas, staking, social, several chains, one screen.
- Nobody asked for that combination. The wallet’s company chose it.
- The newcomers pay for it. Mobile wallet users grew 20% in 2025, into a home screen built for someone else.
Core wallet
Essential
Added services
More choices
All-in-one
More complexity
A newcomer
can’t tell what’s safe to ignore.
A degen
can’t switch it off.
A project
only gets in if the wallet’s team builds it.
There is no wallet where the user chooses the services and a vetted project can bring its own.
03 · Why · Product model
A reason to arrive. A wallet designed to stay.
Salmon ships the essentials; users and vetted projects add the rest as Powerups
Users
Choose
- Switch a Powerup on when useful
- Off when not
- Only what they need
Wallet core
Assets, send, receive, sign
Powerups by Salmon
Powerups by vetted projects
Projects
Publish
- Ship by pull request
- Reviewed by the team
- Their community comes along
A big wallet’s power, one switch at a time.
Why this round
Why now
The leading wallets are complex for everyone, normie and degen alike. Salmon is live today.
Already built
The framework is shipping. Capital goes to users, not research.
04 · Why · Competition
Less to carry, not more to add
Other wallets decide for you. Salmon lets you decide.
Other wallets
The team decides what ships
Projects wait for the roadmap
Leaving means moving everything
Closed source
Salmon
The user decides what’s on
Projects ship without waiting
Import in a minute, nothing to move
Open source, per Solana’s wallet directory
Other wallets grow by adding products. Salmon grows by earning user decisions.
05 · Built · Product proof
Available today
Three platforms live, a fourth submitted, Powerups rolling out.
Everything essential. Nothing to ignore.
Discover, understand, evaluate, activate. Each one on is a reason to stay.
Three taps, 0.5%, done.
Chrome extension
Live
Android app
Live, Powerups shipped
iOS app
Live, Powerups build under review
Seeker app
Submitted to the dApp Store
Solana validator
On mainnet since June 9, 2026
Public code
GitHub
Powerups
Payment, Swap, SKR, rolling out as each store approves
06 · Built · Traction
Before any campaign
Salmon already has users, stake and revenue
3,100+
Users
Counted by the stores: Chrome, Android and iOS, October 19, 2026.
72,000+
SOL staked, on-chain
validators.app, October 19, 2026.
0.5%
Swap fee, live
Transparent, on a Powerup the user chose.
Four projects asked to publish their own Powerup, after Belgrade and Superteam’s Argentina office opening.
Demo Day slot at Breakpoint week, London, November 2026.
07 · Plan · Roadmap
Salmon picks the opportunity. Users validate the Powerup.
Six dated milestones turn capital into evidence by May 2027
Dec 2026
Measure
Which Powerups stay on. Dashboards live.
Jan 2027
Developer Kit + Stake
Delegate SOL to our validator.
Feb 2027
Cleanup + RPC
First builders call.
Mar 2027
Alerts
A reason to open the wallet.
Apr 2027
In-wallet browser
Second builders call.
May 2027
On/Off Ramp
Scale decision.
Three metrics, fixed before the money arrives
Activation
First send or swap.
Recurring use
Active again next month.
Powerup adoption
Still on after 30 days.
Monthly report
Shipped, usage, treasury, validator.
Dates assume the raise closes on December 6, 2026.
08 · Plan · Use of funds
The same at any raise amount
USD 15,000 a month keeps the whole team hands-on
Monthly expenses
Team
80%
USD 12,000
Product, Powerups, marketing, ops. All full-time.
Marketing
13%
USD 2,000
X and campaigns with Powerup communities.
Infrastructure
7%
USD 1,000
Four platforms. Grows with users.
Target audience, all four at once
Crypto natives. Degens and power users who switch in a minute.
Solana builders. Ship a Powerup, bring their community.
Newcomers. Normies and ex-CEX holders going self-custodial.
Backers. Skin in the game, a channel from day one.
09 · Plan · Team
More than a decade working together
Five people who have built, sold and shipped together for over a decade
Nacho Mileo · Co-founder, CEO
Co-founder and CTO of LSD Live for seven years; part of its operations transferred to Globant in 2022. Co-founded HOAG Network, winner of Solana Season 2021.
Full-time
Angel Mazzarello · Co-founder, COO
Four companies co-founded and sold: Busquimueble.com to Grupo Clarín; MP Game Studio to Vostu; MPForce to Etermax; Latin Stream Digital, part to Globant.
Full-time
Luca Mazzarello · Engineer
Rebuilt and runs Salmon’s full stack, shipped to four platforms. Before that, sole engineer at Tovi. Computer science, Universidad Torcuato Di Tella.
Full-time
Rodrigo Menendez · Advisor, Legal
Corporate lawyer, partner at Estudio Rinaldi since 2013, over 20 years advising on structure, agreements and compliance.
Part-time
Dario Santos · Advisor, Technology
Over 15 years in software engineering. Co-founder and CTO of LSD Live. Technical lead at Despegar and Clarin’s classifieds. Engineering manager at CookUnity.
Part-time
Skin in the game
The founders put USD 80,000 of their own into Salmon in 2022, and Eclipse and Serum added USD 42,500 in grants.
No outside capital until this raise.
10 · Plan · Risks
As filed on Backable
Three risks, and how each one is handled
Risk
What would have to go wrong
How we handle it
Adoption against established wallets
Users see no reason to leave the incumbents
A wallet’s business model is known: swap fees, referrals, staking, rev share with projects. The open question is adoption, the one variable this raise tests. The first six months fund integrations and campaigns that show, in a minute, how much simpler the wallet feels, and record what sticks.
Platform policies and regulation
A store or regulatory change blocks a Powerup somewhere
The modular architecture lets the offering be adapted by service and by platform, so one restriction does not take the wallet down with it. Powerups can be withheld where they cannot run.
Market activity and revenue
A bear market cuts swap and service revenue
The monthly limit assumes no revenue from these services. Any revenue extends the runway rather than being needed to reach it, so a slow market changes the horizon, not the plan.
11 · Terms · Team package
Backable’s standard package
Team tokens unlock only after backers have multiplied
Backable’s standard package, unchanged: 12,900,000 tokens.
18-month cliff, then five tranches at 2x, 4x, 8x, 16x and 32x on a three-month TWAP.
Upside, not compensation: the team lives on the monthly limit.
Every tranche is paid after backers have already multiplied.
Price threshold
Tokens in tranche
2x
2,580,000
4x
2,580,000
8x
2,580,000
16x
2,580,000
32x
2,580,000
Total
12,900,000
12 · Terms · The ask
Raise on Backable
Back Salmon: USD 150K to 300K, 8 to 16 months of runway
$150K
$300K
Minimum: 8 months of runway
Maximum: 16 months of runway
Raise window
November 30 to December 6, 2026
Seven days on Backable.
Price per token
USD 0.015 at the minimum · USD 0.03 at the maximum
Capital allocation
80% treasury
20%
20% seeds the SALMON liquidity pool.
Monthly spending limit
USD 15,000
Runway before any revenue
8 to 16 months
Revenue on top
Swap fees, Powerup fees, validator
Spending above the limit
Futarchy vote
Salmon’s Backable page provides the definitive terms and the way to contribute.
13 · Why back Salmon
Own it twice
Own the wallet.
Own the experience.
Own the wallet. As a backer, the DAO holds it; you govern the treasury and carry the upside.
Own the experience. As a user, only the Powerups you switch on.
Built
Live on three platforms, a fourth submitted
Plan
Six milestones, evidence by May 2027
Terms
Backers before the team
Ownership
The backers, through the DAO
Nacho Mileo · Co-founder, CEO
@nachomileo
Raise on Backable · November 30 to December 6, 2026 · The raise page carries the definitive terms
Appendix
Three things worth checking
Due diligence. Entity, IP, governance, and every link.
Reporting. What backers get each month.
Market. What the sources say.
A1 · Due diligence
Structure, and where to check it
What holds Salmon, and where to verify it yourself
Structure
Entity
A Cayman segregated portfolio, formed by MetaLeX during the raise at no formation fee.
IP at close
Assigned to the SP: source code, salmonwallet.io, social and community accounts, infrastructure accounts.
Governance
The team keeps the keys to shipping. Anything above the monthly limit goes to a futarchy vote: markets, not votes, decide.
Check it yourself
Website
Chrome extension
Android app
iOS app
Public code and docs
Validator, on-chain
A2 · Reporting
Checkable every month
Backers get a checkable report every month
Each monthly report covers
What shipped in the month that closed
Powerup usage: activated, kept on, switched off
Treasury balance
Validator, on-chain: active stake, rewards, net revenue, and what moved to the treasury
Posted in the first days of each month on X, repeated in the Telegram community. Every number is verifiable on-chain or in the stores.
A3 · Market
What the sources say
A growing market, by every source that measures it
Crypto wallet market, 2025
Fortune Business Insights
USD 12.2B
Polaris Market Research
USD 15.3B
Grand View Research
USD 15.5B
Grand View projects USD 19.3B in 2026 and a 26.6% CAGR to 2033.
Crypto users
741M
Crypto owners at the end of 2025, growing 12.4% a year. Crypto.com.
40 to 70M active users and mobile wallet users up 20% in 2025. a16z.
Solana
8.9B
Transactions in Q3 2026, a record quarter. Allium, Solana network data.
16.1M wallets hold SOL. Santiment.
The sources differ in method and scope. They are shown side by side as market context, not added up and not read as users available to Salmon.
Sources: Fortune Business Insights, Polaris Market Research, Grand View Research, Crypto Wallet Market reports 2025. Crypto.com, Crypto Market Sizing 2025. a16z, State of Crypto 2025. Allium via Solana network reports, Q3 2026. Santiment via SQ Magazine, 2026.