Researching Ryoshi

The Inner Circle — Part II — Dominic Ryder/RyderOShi/dominicVEMP

researching ryoshi


“That’s what … any good novelist — should do with you: play with your perceptions while showing you everything in plain sight.”

How many coincidences make a fact? One? Two…? Let’s see shall we?

I have to admit, I did not spend much time on Dominic Ryder previously. Although I mentioned him amongst other Guardians in my first medium, I did not think too much about individual Guardians in relation to working out who Mr O and/or Ryoshi was and so after he began getting attention and other people started digging around on Etherscan I foolishly presumed they had been thorough & therefore was nothing to find… Until I found something whilst researching my previous article on Ash/Bumba.

From this one lucky find I have been able to source a mixture of both hard evidence, and coincidence that is so strong I find it incredible that it has been missed all this time.

The Lucky Find

As is standard when researching anything or anybody, I search every Ryoshi or Shiba linked telegram including Cult DAO which was where I found this whilst looking into Bumba…

“Just needs to find the SHIB deployer tx I guess” He’s joking right? …. Right?

Hard Evidence

The ENS name shytoshikusama.eth was registered until the year 4271 by 0x5C1Ca381D68044D111b11d8469B1F865Ed68783f. That’s 2250 registration years costing $11,250. This address is the real Shytoshi Kusama’s… and you can see hiding in plain sight a 26 Ethereum ($100,000+ at the time) transaction from Shytoshi to vEmpire DDAO Deployer on 22nd December 2021.

How in the world this has been missed by seemingly everybody is beyond me. No spoofing or manipulation, cold hard evidence of the lead developer of Shiba Inu sending over $100,000 to the VEMP Deployer, but missed by everybody in the market. Hidden in plain sight.


So what do we know about Dominic & Shiba? Dominic is a former trader, wealth manager & venture capitalist born out of the United Kingdom. He launched vEmpire Gamer Token on 31st August 2021 selling out a 720 Ethereum pre-sale on Unicrypt within a few minutes of launch.

His wallet was first funded on the 24 January 2021 & had mainly DeFi activity up until a pick up of transactions across July & August of 2021. It does not appear he was active in crypto prior to 2021, which makes it puzzling he was able to sell out such a large sale without any track record. 1 Ethereum was $3,467 at the time and so the total; raise was $2,500,000. So perhaps the VEMP deployer was not his initial wallet & perhaps he was active prior, we don’t know for sure. So what connection was there between Dominic. VEMP & Shiba prior to the etherscan link?

VEMP was listed as a woofable pair on ShibaSwap out of the blue on 30th October 2021. This was at the time when the Doggy DAO was not operational & the Shiba “team/insiders” decided who was listed as an incentivised pair on the exchange. But why VEMP… & how?

The reason I say out of the blue is, not that VEMP was listed as a “Woofable Pair” but that it wasn’t announced until much later. If we look today on we can see the following seven woofable pairs still active for claiming BONE on the right hand side.

Excluding VEMP, two of these seven are “outside” tokens who raised huge amounts of centralized outside capital, PERL & ZIG. These two tokens were also both mentioned as “in discussions” when Shytoshi announced the ecosystem tokens F9, UFO & STARL were being added, in a medium posted on 31st July 2021. They both listed shortly thereafter in early August. PERL launched on Binance launchpad in 2019 backed by investors such as AU21 Capital, BlockVC, BlockWater Management, Chain Capital, Elysium Venture Capital, Global Brain Corporation, Kosmos Ventures, Zeroth.AI and ZhenFund. ZIG was also backed by very large VCs such as OKX’s Block Dream Fund, AscendEX (formerly, Sino Global Capital, LD Capital, LVT Capital, AU21 Capital,, DAOMaker, GDA Capital, BSCPad, Acheron Trading, Switchain, & LedgerPrime.

Interestingly, STARL no longer appears, which was deployed alongside DBUY by SHIB Deployer 1 (Woof Decentra). Shytoshi has publicly called Woof a scammer so that may be why it no longer shows. However the following can still be seen:

xFUND, CIV, UFO, F9… and VEMP.

xFUND & CIV are both parts of Unification, founded by Neyma Jahan who has also been speculated as Ryoshi from time to time, Unification built/are building Shibarium.

F9 & UFO Gaming also both have clear links back to a SHIB Deployer wallet…

So we have two similar tokens PERL & ZIG (well known & large at the time) backed by top VCs, and four direct Shib Deployer linked tokens… and VEMP seemingly in a league of its own?

Unless there is more to this story than meets the eye?

We can see from the lucky find in the Cult DAO telegram chat that it is rumoured Bumba & Dominic know each other. We can also see, and as mentioned in my previous article;

“During one of their (NFAis) first AMAs, someone asked if it was true that Bumba worked with Ryoshi, and that was the reason he left Shiba Inu. Bumba diplomatically replied that he did not know where this rumor came from… In conclusion, it would appear Ryoshi and Bumba have been collaborating since the early days of Shiba, and when Shytoshi took over, Bumba left with Ryoshi.”

We also know;

“Ryoshi and Shytoshi had a significant clash in terms of vision, and instead of exacerbating the situation, Ryoshi, acting wisely, decided to pass the reins to Shytoshi to pursue his own vision.”

Now what are two things humans, especially business partners, might argue about? Perhaps…


This makes sense based on the timeline, but before that, let’s address the rumours that Dominic Ryder & Mr O’Modulus, the founder of Cult DAO, could be one & the same.

Is Dominic Ryder, Mr O’Modulus?

In my opinion, maybe.

After seeing how bad a job those who had looked into it before me did, on not finding the shytoshikusama.eth transfer, I thought it is only fair I looked into the accusations myself. It was well known that Dominic was doing the market making for CULT & so the blockchain evidence shows that the CULT devs sent CULT to the same exchange addresses that Dominic used for VEMP. Most exchanges have the ability to add sub accounts and so it is normal to have one deposit address for multiple accounts on the same exchanges. Due to this it is very hard to find any blockchain transactions that can’t be explained away by the market making responsibilities…

You could argue this is convenient if you make the assumption that they are the same person but it is hard to bring any hard evidence, but there is plenty of soft evidence. Especially the anagram of;

Mr O’Modulus

Dom Romulus

This was explained by Mr O before it was used as an accusation however, but it still holds weight as soft evidence.

Isn’t it also coincidence Dominic Ryder from VEMP uses ancient Roman Characters in his protocol & Bumba from NFAi uses Ancient Greek?

Is Mr O’Modulus, Shibarium1/Shibarium_/Ryoshi?

In my opinion, a strong maybe.

Let us revisit why Mr O’Modulus was rumoured to be Ryoshi, and cover additional evidence that has come to light since my original medium article on the 23rd March 2022

Who is Rumor has it that the account is Ryoshi themselves. These rumours are spawned by the account being followed by both Shytoshi & Kaal, as well as frequent interactions from & with the Shiba team. They also are undeniably either a huge supporter of Cult & Mr O… or potentially even Mr O themselves.

How many coincidences make hard evidence? Let’s find out.

  1. Posted on 25th March 2021

A coincidence? Sure. And certainly not enough if it stood alone however...

2. The Smoking Gun. Posted on Shibariums own medium on 27th March. Not only is it an image full of masks, but the capitals, plus letter L before the youtube link spell, CULT…

Click on the YouTube link and the exact same Charlie Chaplin speech heard on the website plays

There are some more conversations/private DMs seen in this thread here:

3. I mean… come on.


5. On 23rd April Mr O tweeted with an almost identical response two weeks later from Shibarium on 3rd May

6. Even a game of Marco Polo starting on 6th August….

Polo two days later…

Conclusion & Timeline

As always this medium is my own opinion. You are free to come to your own conclusions via the links and evidence provided, however I believe the following is the most reasonable hypothesis based on the timeline & both hard facts and coincidences outlined above.

We know that Ryoshi & Shytoshi parted ways in the winter/spring of 21/22 & that Ryoshi deleted his tweets and medium on 31st March 2022.

We know that in December of 2021 Shytoshi sent Dominic Ryder over $100,000 in Ethereum. We also know that it was around that time Shytoshi & Dominic ceased communication.

We know that Bumba knew or was at least in the vicinity of Ryoshi and potentially Dominic at similar times, and also parted ways with Shiba/Shytoshi at the same times.

We have extremely strong evidence that either Mr O IS or at a minimum is supported by Shibarium_.

We know for a fact Dominic supported CULT with market making, but at the same time we have strong evidence that Mr O could also be Dominic.

Or perhaps we are all so focused on finding out who Ryoshi is as an individual… that we never consider that Ryoshi may not have been an individual at all…

But rather a team…





Now how’s that for hiding in plain sight?


Considering all the above… does it not seem coincidental that Shib Deployer launches a new token, albeit accidentally, but for the first time in years…

And Dominic is not only online, but is quick thinking & has the foresight to buy enough of it, with enough speed to be the first LP provider & brand new creator for it on Uni V3? Sounds like something only a Shib Deployer would be able to do so quickly…