Product Keynote: Forma

From pop-up villages to permanent cities: Forma is betting big on transforming a tiny island between Ireland and the UK into the world's premier destination for Solana builders, marking a historic shift in how blockchain communities and nation-states collaborate.

Summary

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Forma, co-founded by Farhaj Mayan, has spent the past two years pioneering a bold experiment: creating physical hubs that bridge the digital Solana ecosystem with real-world governments and economies. After hosting pop-up villages across three continents—Argentina, Sri Lanka, Kazakhstan, and Georgia—and meeting with over 40 countries, the team has chosen its first permanent home: the Isle of Man, a self-governing crown dependency known for its tax advantages and strategic location.

The announcement came on the heels of remarkable achievements in Kazakhstan, where Forma facilitated what they describe as the first-ever partnership between a nation-state and the Solana network state. The collaboration yielded concrete results: Kazakhstan's central bank launched the national currency Tengay as a stablecoin on Solana, and the government announced plans for a Crypto City to serve as a testing ground for blockchain technology.

Forma's model represents a new paradigm in how crypto communities can influence and work alongside traditional governments. Rather than simply lobbying for favorable regulations, they're actively demonstrating the economic value blockchain technology can bring—generating over $10 million in foreign direct investment and significant global attention for their partner countries. The vision aligns with what crypto thought leader Balaji Srinivasan has described as "pop-ups becoming the new startups," where cloud-based communities evolve into physical network cities.

Key Points:

What is a Solana Economic Zone?

Forma defines Solana economic zones as physical hubs that create economic activity between the digital Solana network and physical nation-states. These aren't just co-working spaces or conference venues—they're designed to be comprehensive economic engines that attract internet talent and capital while providing governments with new tools for growth. The concept draws from traditional special economic zones but reimagines them for the crypto era, where communities are organized around shared technology and values rather than just geography.

The zones serve multiple purposes: they give crypto builders a favorable regulatory environment to work in, provide governments with foreign direct investment and technology partnerships, and create physical gathering points for the otherwise distributed Solana community. Forma has built a network state of over 1,000 members through this model, creating a global community that can mobilize and relocate to wherever conditions are most favorable.

The Kazakhstan Breakthrough

Kazakhstan represents Forma's most significant achievement to date. The partnership included a one-day summit and week-long trade mission that attracted over 150,000 live viewers and more than 250 government officials and regulators. Four landmark memoranda of understanding were signed, including one with Solana Foundation for what was described as the region's first-ever Solana economic zone.

But the real impact came after the paperwork. Kazakhstan's central bank worked with an ecosystem company to launch the Tengay, the national currency, as a stablecoin on Solana—a significant milestone for blockchain adoption at the sovereign level. Additionally, AIX, a NASDAQ-powered stock exchange, signed an MOU to explore listing public companies on Solana. Perhaps most ambitiously, the Kazakh president subsequently announced a National Crypto Reserve and "Crypto City," an entire city designated as a testing ground for frontier technologies including blockchain.

The Isle of Man: Forma's First Permanent Home

After evaluating over 40 countries, Forma selected the Isle of Man for its first permanent Solana network city. The self-governing crown dependency, roughly the size of Singapore, sits strategically between Ireland and the United Kingdom, just one hour from London and Dublin by flight. The jurisdiction offers compelling advantages for crypto businesses: zero percent corporate tax, zero percent capital gains tax, and status as a whitelisted financial hub.

Beyond the financial incentives, the Isle of Man ranks among the top five safest countries globally, offering the quality of life that attracts long-term residents. Forma's team plans to relocate there permanently, signaling serious commitment to the project. The goal is ambitious: transform the island into the world's most competitive jurisdiction for internet talent and capital, creating a new model for how crypto communities can establish physical roots while maintaining their global character.

The Evolution from Pop-Ups to Network Cities

Forma's trajectory reflects a broader thesis about how digital communities mature. Drawing on Balaji Srinivasan's writing about pop-ups becoming the new startups, Forma envisions an evolution where temporary gatherings crystallize into permanent network cities. The key insight is that communities organized around shared technology and values can work directly with governments to create unprecedented economic partnerships.

The model represents a departure from both traditional urban development and typical crypto advocacy. Rather than waiting for governments to create favorable conditions, network cities actively demonstrate value through pilot programs and trade missions. Rather than building isolated compounds, they integrate with existing jurisdictions while maintaining their distinct community character. The Isle of Man project will test whether this hybrid model can scale from successful pop-ups into a sustainable, permanent community.

Facts + Figures

• Forma has hosted pop-up villages in four countries across three continents: Argentina, Sri Lanka, Kazakhstan, and Georgia
• Over 1,000 members have joined Forma's network state
• The organization has generated over $10 million in foreign direct investment for partner countries
• Forma's initiatives have generated over 10 million impressions on X (formerly Twitter) for partner countries
• The Kazakhstan summit attracted over 150,000 live viewers
• More than 250 government officials and regulators attended the Kazakhstan events
• Four landmark MOUs were signed during the Kazakhstan partnership
• Kazakhstan became the first country in its region to establish a Solana economic zone
• Kazakhstan launched its national currency Tengay as a stablecoin on Solana
• The Kazakh president announced a National Crypto Reserve and Crypto City following the partnership
• AIX, a NASDAQ-powered stock exchange, signed an MOU to list public companies on Solana
• Forma evaluated over 40 countries before selecting the Isle of Man
• The Isle of Man offers 0% corporate tax and 0% capital gains tax
• The island is approximately the size of Singapore
• The Isle of Man is one hour by flight from London and Dublin, 20 minutes from Liverpool
• The Isle of Man ranks in the top five safest countries globally
• Breakpoint 2025 attracted attendees from 105 countries

Top quotes

• "Every great country is built on the back of its businesses, and so we should be really proud of the work that the founders and our ecosystem have done."
• "Solana economic zones are physical hubs that drive economic activity between cloud, Solana and land, nation-states."
• "This was the first of its kind partnership between a nation-state and the Solana network state."
• "Solana is not just about paper MOUs, we're about products launching."
• "Pop-ups are the new startups, where these cloud communities could band together and start to establish really amazing places in the real world."
• "Pop-ups could actually evolve into something that looks like a network city, where a community works directly with a government and turns a physical city within that country into the world's most competitive jurisdiction for internet talent, for internet capital."
• "Forma is going to make a very big leap and go from pop-up to permanent."
• "This place is absolutely stunning with breathtaking nature and people that make you feel just at home."

Questions Answered

What exactly is Forma and what does the company do?

Forma is a company that develops economic zones in frontier markets by partnering directly with governments. Co-founded by Farhaj Mayan, the organization creates physical hubs—called Solana economic zones—that bridge the digital Solana blockchain ecosystem with real-world nation-states. Their approach involves hosting pop-up villages, organizing summits and trade missions, and facilitating partnerships between crypto companies and government institutions. The ultimate goal is to drive economic activity that benefits both the crypto community and the countries they work with.

Why did Forma choose the Isle of Man for its permanent location?

After evaluating over 40 countries and hosting pop-ups across multiple continents, Forma selected the Isle of Man for several compelling reasons. The self-governing crown dependency offers exceptional tax advantages including zero percent corporate and capital gains tax, while being a whitelisted financial hub that provides regulatory legitimacy. Its strategic location—one hour from London and Dublin—makes it accessible to European markets while its status as one of the world's safest countries ensures quality of life. The island's size, comparable to Singapore, makes it manageable for a community-driven transformation project.

What concrete results came from Forma's partnership with Kazakhstan?

The Kazakhstan partnership produced several groundbreaking outcomes beyond the signed agreements. Kazakhstan's central bank collaborated with a Solana ecosystem company to launch the national currency Tengay as a stablecoin on the blockchain—a significant first for sovereign digital currency adoption. The NASDAQ-powered stock exchange AIX signed an MOU to explore listing public companies on Solana. Following these initiatives, the Kazakh president announced both a National Crypto Reserve and "Crypto City," an entire urban area designated for testing blockchain and other frontier technologies.

How does Forma generate value for the countries it partners with?

Forma generates value through multiple channels. Their initiatives have brought over $10 million in foreign direct investment to partner countries, providing tangible economic benefits. They also generate significant global attention—over 10 million impressions on social media—that promotes partner countries' stories and economies to international audiences, particularly within the tech and crypto communities. Beyond monetary value, they facilitate technology transfers, help countries develop forward-thinking regulatory frameworks, and connect local institutions with cutting-edge blockchain applications like stablecoins and tokenized assets.

What is a "network city" and how does it differ from traditional economic zones?

A network city, as Forma envisions it, is an evolution of the pop-up village concept into a permanent community. Unlike traditional economic zones that are purely geographic designations created by governments, network cities emerge from digital communities that then establish physical presence. They're organized around shared technology and values rather than just location. The community works directly with a government to create an environment optimized for internet talent and capital, essentially merging the advantages of online community coordination with physical co-location and governmental support.

How can someone get involved with Forma's Isle of Man project?

Mayan encouraged interested individuals to sign up on Forma's waitlist to be considered for the Isle of Man community. The project aims to attract members of the Solana ecosystem and broader crypto community who want to live and work in a jurisdiction optimized for their needs. As Forma's team is relocating permanently to establish the network city, they're looking to host members starting next year. The initiative is particularly suited for builders, developers, and professionals seeking a combination of favorable tax treatment, strong rule of law, and community with like-minded individuals.