DeFi Uncovered Ep. 5

Recorded: Jan. 23, 2024 Duration: 0:59:18

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layer points, for me, Jupyter points, for me, Jito points.
And I think the ecosystem is getting saturated by points
right now, and I guess users are basically tired.
So we're starting to see the hype for point systems dying down.
We start to see more depth actually also pivoting
toward intent-based depth actually deploying.
I think that's realized that intent-based depth actually
improves our capital efficiency by quite a fair margin,
and it gives a lot more flexibility for the protocols
to actually adjust their fees, adjust their tokenomics,
to actually fit their token design.
So I think more and more protocols, even existing ones,
are starting to look into intent-based structures
and trying to pivot towards this form of infrastructure
for their protocols.
I think we also see a large focus being shifted
towards RRTs, liquid restaking tokens.
I think as these have been used in the space for quite a while,
you see them being speculated, using speculated on handle
but liquid restaking tokens, on the other hand,
has been popping up.
That's a new one every single week.
So everyone wants to be part of this narrative for eigenlayer.
They want to be able to share eigenlayer points to the users.
And there's actually quite a fair bit
of differences between the various different liquid
restaking tokens.
And I just hope that when users actually enter all these RRTs,
they actually take the time to actually look
through the security docs and to see
what are the differences in terms of security structures.
Because as more LSDs get put together in common baskets,
there's actually quite a large risk of, I would say,
vectors of attacks.
If one of these particular LSDs is actually, I would say,
exploited, and I think as a team that
is pushing the MPF to throw our code system,
this is something that we take a lot of time
to actually monitor as well as to evaluate.
The RRT hype is good.
Users get more yield.
Everyone is happy.
But security should not be forgotten.
And we have to take a lot of time
to actually ensure that things are safe
before we actually start to integrate
with any forms of our RRTs, which is why I think,
for MPF-wise, we have been taking our time.
We have taken a steady approach whereby
if RRT protocols want to accept MPF, they can.
But we will not be so-called putting protocol liquidity
into them for now until we are satisfied
of the security for these RRTs.
And then we are also taking our time
to make sure that we get our devs to actually have
a close look on all the different RRTs
and what is the best option for actually MPF holders.
And I think outside of this overall focus on RRTs,
there is also a few different protocols in the space
that is starting to be interesting because they're
actually looking to combine AI into DeFi.
I think I hopped into a TOW rabbit hole recently
whereby I was looking into TOW, trying
to understand how AI can actually really be
integrated into DeFi.
And I started to see very interesting ways
of how AI can potentially affect DeFi.
You have protocols that are looking
to summarize changes in blockchain data
to actual output that is simplified to the layman.
You have protocols that want to simplify vocal languages
into actionable transactions on-chain.
You have protocols that help to simplify stuff
that you type a sequence of events or complex transfers
that are looping of different collateral assets.
And then they're trying to simplify it by connecting,
automatically connecting through these protocols
to actually do all these transactions.
So I found it really fascinating to see how DeFi and AI
could potentially actually merge together.
But I know that it will still take a lot of time.
It will probably be somewhere only maybe next year
or late this year.
But it's actually quite interesting
to actually follow all of this new developments in the space.
And it's something that is exciting.
And there's stuff that users can actually look forward to.
And I guess, lastly, for the DeFi scene,
a lot of users will be still interested in doing
airdrop farming, where everyone loves airdrops.
Everyone wants to do airdrop farming.
And everyone wants to have free tokens dropped onto their labs.
And I think there are some of the biggest and most hyped
airdrops coming soon that a lot of people are watching out for.
There's a DYM.
There's a Jupyter.
There could be potentially eigenlayer.
Everyone is also waiting for layer 0.
So yeah, a lot of hype still with the airdrops.
And I guess potentially, Mentor could join a free suit
if we start to release Mentor's taking in the future
or something along those lines.
Yeah, I think that's all, I guess, of Derek.
Thanks for the slew of alpha.
If you don't mind, can I just pull you back a bit to LRT?
Maybe for maybe just quickly break down
what the concept is and what LRT is about just so that all of us
can understand better, if you don't mind.
So everyone, sorry, I'm just really lazy to explain.
Sorry about that, but I think this kind of thing.
So similar to what liquid staking token is,
liquid re-staking token basically is taking the Eve
and then re-staking it across the different validators
for data availability layer so that so-called the whole process
of staking is decentralized and then there's
no one validator that is overweight with all the users
staking weightage from all the LSTs.
And it allows data availability layer,
it allows the transactions to be processed more efficiently.
And it also helps to keep the network safer
for L2s that are actually running building
on top of all these data availability layers.
So I think that the latest trend in the rise of LRTs
is many stems from eigenlayer actually allowing Windows
whereby Eve can actually be staked towards the data
availability layer.
So a lot of protocols have used this to actually help
to route LSTs into their protocol.
And in return, they give you a liquid re-staking token whereby
you can use this re-staking token similar to how
to use it to use LSTs liquid staking tokens.
And then on the back end, they will basically
take your LSTs to actually go and stick it on the data
availability layers or eigenlayer.
I think that summarizes it.
Thanks so much for that.
Yeah, I know that it is a pain to break it all down
because it's very convoluted.
But I think it'd be very useful for, let's say,
for people who are not as introduced to this concept
as you are because I think you're breaking these things down
really well.
So sorry that I called you to do that.
But yeah, thanks for that quick summary of LRTs.
I'm sure if anyone wants to find out more,
I wouldn't say DM him because I'm sure he's spanned by that.
But if you don't find out more about LRTs,
you can request for the next episode to focus on that.
Everyone, DM Derek to ask him what
is for more clear explanation of liquid LRTs.
OK, so I don't want to say that, but OK.
Please don't, but yeah.
Yeah, I think that was a good time to segue into defy
on mental itself.
I think some very exciting things
happening thanks to you and Gabe as well
and the whole team here.
Yeah, maybe we can just do a quick update.
OK, maybe not quick.
We can dive deep into that.
I would love to hear that as well.
What's happening on defy on mental right now?
Any new defy depth that people can look out for?
And what do they do?
Anything interesting about them?
Yeah, just take your time on that.
Yeah, I guess since our last AMA,
there's quite a number of depths actually deployed.
So I think the first and foremost one
will be actually much more sort of affiliated from Trader Joe.
Then they launched their V1.
So V1 for much more is sort of a 50-50 pool
whereby there's no concentrated liquidity yet.
But then it consists of a bribing model
where users can actually direct emissions
from the early stages of more.
So this is their first iteration.
And then soon they'll be launching their trademark liquidity
books on much more as well.
And users will be able to use concentrated liquidity
along with the bribing models.
And I think they still have a few other things planned.
But I will leave that to the team
to actually share to the public instead of me spoiling
everything here.
And we also have Clio.
Clio is something similar to a solid default.
They have concentrated liquidity.
They also have a varying form of emissions
based on your stick Clio.
And I think so far Clio has a pretty exciting yield, I guess.
I think more started off with extremely high yields
at the start.
And then it's sort of tapered off.
But I think Clio has gone under the radar.
And overall emissions and farming yields
are actually still pretty decent.
So I have actually farming both protocols right now.
And I hope that's the early stages of the access
on Mentor actually deploying their tokens.
We see Agni, FusionX, the users are still
waiting for them to deploy tokens.
But this will also be coming soon.
So it'll be interesting to see how
all of these textures actually perform against one another.
Once all of them actually launch their tokens
and actually bring in tokenomics into the fray
to actually compete for liquidity within the ecosystem.
And we have OneDelta.
I think OneDelta is actually a margin platform.
But a feature that I think that users should actually
take a look at for OneDelta is actually the DAX aggregator.
So they have an extremely efficient DAX aggregator.
So I've been using both OneDelta as well as OpenOcean.
And I think so far, both OneDelta and OpenOcean
has pretty competitive rates.
And I usually just pick the one that actually offers
the highest rates.
And sometimes OneDelta will be higher.
Sometimes OpenOcean will be higher.
So yeah, for users who want to use it,
just open up both windows.
Check both the apps and then choose
whether it offers you the best rates.
It solves a lot of the issues of actually trying
to go to all the different access to do swaps.
And we have tsunamiX that also launched.
tsunamiX is an AMM platform.
So they'll be ramping up their trading incentives soon.
And they're also an eco-fund project that we actually backed.
So they should be having some interesting,
I would say, competitions happening
once they start to ramp up their trading incentives.
But they should be announcing that soon.
So I'll leave that to them as well.
And we have soft.
So soft finance is a protocol that actually runs like vaults,
that runs complex strategies on different chains.
And we have been working really closely with them for Mentor.
So they have actually developed something specifically
for Mentor, which is the STUSD vaults.
And they're running the tests on it right now,
which has been ongoing for the past one to two months.
They voluntarily put in 1.9 million worth of TVL
just to go and test out the vaults
to make sure that strategies are safe for everyone to use.
And they are running like 30%, 30% APR on stablecoins.
And they expect this to actually continue.
But I guess we can only wait for them
to actually release this vault to the public.
And this vault is actually something
that I'm really looking forward to,
because it really raises the bar for what stable returns users
can expect from stablecoins.
And from what I learned when I speak to them,
they are actually able to scale this APR returns
even for larger TVL, because it combines
a mix of arbitrage between spot positions
to futures positions on centralized exchanges.
And I think, lastly, I think what's coming up
is we will have Athena, the Athena launch coming up.
And they will be doing co-campaign with us soon.
And also, we have the Eigenlayer caps on MEV release.
So we can end users for MEVs can actually deposit to Eigenlayer.
Yeah, I guess that covers most of the different developments
for the mental side.
But I'm sure there are a few that I've missed out.
But it doesn't come to my mind for now, if I remember.
I will try to mention it.
OK, thanks.
I think that was a boatload of Alpha.
Hope you guys caught it.
If not, I'll just give a very, very quick summary
of what I just mentioned.
So he discussed the merchant mode and Clio launches.
He mentioned, well, one delta, where
if they aggregate the launch, tsunami X ramping up
via trading incentives, and also Solve protocol
doing the final testing phases of STUSD.
And also, he mentioned the Athena launches
coming here.
I would like to plug in shamelessly plug in,
because it's not really defined.
But I do keep a lookout for this name, PixelPels.
Yeah, I think exciting stuff is coming very, very soon.
So do keep a look for that.
Yeah, just to head on to that.
Sorry about that.
But yeah, no, can you explain what is PixelPels?
OK, explain what is PixelPels and why it's chilling in here.
At least give some context to the listeners.
And at least let them know what it is.
OK, I can see that you're still seeding from me asking
you to expect LTS.
But OK, yeah, so I'll give a quick rundown on PixelPels.
But I wouldn't take too long, because this is really at shore.
It's really defined, uncovered.
So PixelPels is the first game, right?
But PixelPels, in a series of those that will be out soon
on Mantle, it's a tamacogy-based game.
I don't want to review too much,
but there will be some very exciting elements,
like PVP stuff that you guys can try out.
And of course rewards will, you know,
I can't say much about that, right?
But let's just say that it'll be both fun and rewarding
for people to play it.
Yeah, do keep lookout for announcements coming soon.
I'm sorry, and I can't review too much.
But yeah, just everyone, just keep lookout for that.
But yeah, I hope that this will be something
that you'll see a lot in the coming weeks or so.
Thanks for tuning in, and space to share it.
But yeah, going back to DeFi now,
our newer shiny toy, right, on Mantle right now, Amif, right?
Why not just talk us through what's
happening now in Amif landscape?
So maybe some of the newer integrations
that we have on the front.
Sure, I guess now for the Amif site,
we're having the double dose still ongoing,
double dose yields.
So we're running out 7.2% in yields.
And I think natively, we are still getting around 4%.
And I think TVL for the caps for Amif
has been pretty fast, and it's almost hitting the caps
right now.
So I think the last I saw, we are at 320k-ish in terms
of our caps for Amif.
And then we have the upcoming icon layer integration,
as well as integrations with other protocols for Amif.
So I think that handle is one that we're
speaking to get Amif integrated.
And we also have a lot of RRT protocols
actually reaching out to us regarding this integration.
Yeah, I guess that summarizes most
of the upcoming Amif integrations that is upcoming up.
But we will keep the users updated.
There's quite a number of things that's happening in Flux.
And I think getting a real time updates to users
when the integrations are confirmed
will be more beneficial, rather than me revealing everything
Yep, Derek?
Yeah, sorry.
I think I might not be sure, so I'm very sorry for that.
Thanks for all that.
I hope everyone caught that regarding
Amif and the newest integrations.
I think now we have come to the end of all the discussions
that we have planned.
So maybe we'll take some questions from the community.
I think there were five questions created
by Albright for us.
Thanks, Albright, for that, that we can discuss.
So Ed, this is for you.
What will have the greatest impact?
RWAs to empower DeFi or DeFi to empower TratFi?
Yeah, I think this person just wanted you to share
your views for the future.
I think RWAs to empower DeFi or DeFi to empower TratFi.
I think it should be the letter, right, whereby
DeFi empowers TratFi.
RWAs to empower DeFi, I think it is more,
it doesn't really empower, but I think RWAs
give DeFi more stability and more credibility.
And it allows DeFi to actually bridge
the gap between traditional assets
versus other web tree assets that we see in place.
For DeFi, I think it offers more opportunities
for the traditional markets to actually explore and tap on.
We remove the intermediaries, we remove the banks,
we remove the exchanges, and then you
have it all in the form of codes.
And this way, the users are the one actually benefiting
from adopting all these technologies.
But of course, it is always a give and take.
And it will take a lot of time for TratFi
to actually start to warm up to the ideas of using a DAX,
using a money market that is based on codes.
And there's no refunds for mistakes.
So I do feel that it works both ways.
But other ways to power, it do help to strengthen DeFi.
But I think that the opportunity and the window
for adoption will be more heavily
reliant for DeFi to actually help
to empower the TratFi aspects of stuff.
Thanks for sharing.
Sorry, yeah.
So thanks for sharing.
I think just to add to that, when it comes to RWAs and DeFi,
I think I fully agree with you.
And I think RWAs can provide, I guess, more reliable.
Or some people would say a more legitimate and stable
source of view, I guess, in DeFi.
But I mean, that remains to be seen, right?
Because right now, most are centered around really
the kind of DBOs and things like that.
On the other hand, I think DeFi can really empower RWAs
in many different areas as well.
For a lot of verticals that people
talk about, real estate and gold,
I'm not so sure for many various reasons.
But I wouldn't die from that, because I think
that's not the focus of this call.
But I think in other areas that are more illiquid and also more
inaccessible, like wines and spirits, which,
if you look at it, it really is a great investment
kind of vehicle in a trap-fire space.
I think DeFi can really do wonders
in terms of liquidity and accessibility
and many different facets.
They're more nuanced.
Once again, we can't speak about that now,
because I don't think this calls me for that.
But happy to speak about that in the future.
So moving on to the next question.
And I'm very sorry if I cut you off just now,
because honestly, it's a bit spotty for me here.
So if I interrupt you in any way,
do let me know by giving me a thumbs down emoji
if I interrupt you in the future.
Thanks for that.
So the next question we have, I have to read this question
now if it's too funny.
Edmund Schwab, an ecosystem researcher at Mantle,
discussed Mantle's focus on augmenting native video
how does Mantle align with Mantle's DeFi strategy,
especially in terms of capital efficiency
and accessibility for users of all experience levels?
I love the use of food compared.
Yeah, so very specific call up for this question.
Mantle has the credibility from a team
that knows how to run a DEX.
They have been building Trader Joe for quite a while.
They've been through the bear market,
they've been through the bull market,
and they know what works and what doesn't.
So for Mantle, when we actually look into that,
when it feels with the liquidity,
we see it happening in stages.
So for them, for Mantle,
they wanted to keep to their roots
whereby the community plays a central part
on where the protocol actually develops,
which is why they actually choose to allow
most of the emissions to start to be given
towards both the users as well from the job holders
as well as from farm emissions.
And they allow the bribes to happen in real time,
whereby users can choose which farm they want to bribe.
And then after that, they push the emissions
to those areas.
And we wanted to support them on a vision
whereby the community is first.
And then from there, we work on getting the yields done,
which is from helping them to do co-marketing,
to drive their trading volumes.
And then for the portion on deep liquidity,
that will come when they deploy their liquidity books
later this month to next month.
It is gonna be deployed soon.
It will be announced by the team when the codes are ready.
And once both of these components come in play,
whereby you have a bribery model that is interesting
and fun for users to interact with,
you have liquidity books that allows you
to create deep liquidity for protocols.
They will augment each other by creating a five-way whereby
users can create bribes for pools that they value the most.
And the protocols themselves can actually contribute
third-party bribes to actually help to incentivize
all these stickers, they are sticking more
to actually direct emissions there.
And this allows them to actually create a very nice
five-way for decks on mental.
So for users to actually have, I would say,
very deep liquidity pools for the trade-on
and help to improve that computer efficiency
for users to actually access the defined markets on mental.
Okay, awesome.
Thanks for that.
So this pretty related question to what you discussed
earlier in previous episodes or so,
but maybe we just do a quick recap
and maybe update on this one.
But a user was trying to find out how you plan
to develop the DeFi landscape on mental.
Can you possibly let the community know
what DeFi projects you are targeting
or maybe what areas within DeFi
that you guys are really targeting for?
I think we are targeting quite a number of areas right now.
We are looking heavily into 10-based depths.
They help to improve a lot of computer efficiency
and gives users a lot of freedom of choice.
We are also looking at different clock-based depths
in the space and we are seeing what actually
we are missing inside our ecosystem.
So we have various EMM-based pub stacks right now,
but we're still lacking a very solid clock-based pub stacks
which essentially mean all the pub stacks in the space.
We are seeing quite a number of really good money markets
being deployed on mental right now.
We have Lando, which is the first one that they deployed.
And today we have the launch of Init
and we will have the launch of MathLabs coming soon as well.
So we will be looking for secondary apps
to actually tap on this liquidity
from all of this money market
to actually help to build margin platforms
to help to build vaults.
And we are in touch with various different platforms
in the space.
You see that BFI, one of the most, I would say,
one of the oldest providers for vaults
and in the space, the DFI scene has started
to move towards mental and start to build on us.
And we expect the same to be coming
for various different other DFI depths
that we are speaking to.
But yeah, I guess we would not specifically point out
any names until everything is confirmed.
Like we do not want to disappoint the users
and give them names that end up to not deploy on us.
But we are working day and night
just to actually secure a very holistic environment
for the DFI users in space.
So yeah, let's keep a lookout for it.
Okay, awesome.
So question four, some people are concerned
about Itina Labs being USD 2.0
and how USDE is going to negatively affect mental
replication if you have a DeepEx, right?
So I think, you know, could you address these concerns
and explain how USDE is different from UST?
Yeah, just address this openly and transparently.
Okay, hi, for one, I'm very familiar with UST.
Like I was involved in the terrorism for a long time
and UST still gives me nightmares.
Yeah, so how UST actually, how it actually worked
was it was an algorithmic stable coin
that drives yield from a protocol called Anker
that promised that 20% fixed yields
as much as you deposit UST in.
The baseline mechanism for UST was extremely dangerous
because you mint UST using LUNA itself.
This means that it was backed by another
highly volatile coin that when the demand is high,
they could continuously print UST with LUNA
but when there was like a bank run
where users are struggling to get out,
you see LUNA and their spiral
to try to keep the pack for UST.
So you're pushing the overall dollar pack
for this supposed stable coin towards a secondary token
that is highly volatile.
So that by itself was extremely dangerous
and it's just not sustainable.
But you have Athena that is actually deriving yield
not from their own treasury.
So how LUNA actually derived that year
was to continuously print UST by burning LUNA
and then they subsidized the whatever yields
that were being given out on Anker protocol.
But for Athena, that's different.
For Athena, they're putting a baseline collateral.
So let's say you deposit a stable coin
or deposit an IF
and this IF is deposited to a centralized exchange,
it's used as collateral
and then the IF that it deposits would be in the SD form
so you get maybe like ME for example,
ME if deposited to buy a bit as collateral,
then you get a 7.2% yield on ME if for now.
Then what Athena will do is they will open
once to one shot on this ME position.
So you have one ME if deposited
and one ME equivalent of shot position running.
So if you look at a historical funding rates for ME
the funding rates for IF typically range from 10,
10% APR to around 25% for the past three months.
This basically means that once you deposit your funds
to Athena, they perform a delta neutral hedge
on whatever amount it is,
they lock in the value, the dollar value.
So you have a stable coin that is backed
by a delta neutral hedge strategy
that drives actual yield towards the stable coin.
So you will get the 7% from ME
plus whatever the funding rate actually is
for the moment of time when the words are given up.
So that's the give us up
but at the baseline rates of like 10%.
So it's a 17% stable coin that is sustainable
that is actually backed by a proper strategy.
It's not printed all of TNET
and it is heavily tested and it will be integrated heavily
with various different centralized exchanges.
Yeah, I guess that's a key difference
in terms of like mechanics
and in terms of like the two different stable coins.
Awesome, I think that clarification was very clear
and I think you recap the differences
for any mechanisms between the two.
Yeah, the next question is regarding Mando DeFi again
as a whole.
So the question goes,
what amazing features and benefits does Mando DeFi provide
for users to make the asset management experience
in decentralized finance more convenient and innovative?
Let me...
Can you repeat the question?
Yeah, sorry, it's a bit long
but I think basically what this person is asking
is what features do we privilege on DeFi or mental
that makes the asset management experience in DeFi
more convenient and innovative?
I think this question is pretty broad
because the asset management,
is it like just your wallet?
How you manage your wallet or are you referring to like,
are you a fan that you need to integrate
for institutional grid like software like copper
or fire blocks to actually use it?
So I'll just take the question as from average user standpoint
whereby you want to know how mental eases the process
for users to actually assess or DeFi simply put.
So I think we have been working on like
reducing the barriers to entries for the average user
to our DeFi system.
I think a feature that will be coming live soon
that users will be very interested to see
is that we will be actually be a dropping
like sort of like a small amount of MNT
for users speed that use the third-party bridge
such as like Stargate.
So initially we did this only for our,
the main mental bridge whereby we a drop three MNT
to users to actually bridge over from that if
and now we were doing the same for new users
they're bridging over from other L tools
or other ecosystems using Stargate.
But I think this is one of the ways
that we actually have been trying to improve
the overall experience for users using a DeFi ecosystem.
Another way is that we are looking for depths
that have a heavy focus on both their communities
as well as like the users, the UI.
So if you pick like HMO that has really, really good UI
for users we have solved that helps to
run complex strategies for the users
so that users that have a very easy experience,
we ensure that when we speak to the protocols
for the initial deployments,
we pick protocols that has a good clean UI
and has able to actually articulate to us
that their visions and their goals for deploying on mental.
And I guess what users don't see is that
when we speak to protocols,
we tend to get like maybe five to 10 different folks
trying to find one product
and trying to sell the product to us.
But we have to just see that all of this
to actually determine what is best for the user
and what will give the user the best experience
in terms of like their time interacting
about DeFi ecosystem.
And I think we can see that it is similar
to why we should build up like M-E, right?
We wanted to build the painstaking protocol
that is really easy for the users
to actually interact with,
but also ensure that it is a step above
the previous other LCS in the space.
We ensure that the codes we use are not like,
that's a fork from other protocols.
We ensure they're properly audited.
We improve on them.
We make ensure that the veridata set
that we choose are only the top great veridatas.
I think these are all aspects
that we from the mental teams actually focus
to actually improve the overall user experience
when they come into the space.
And then we also have a touch on the innovative aspect
whereby we actually mix in steps
that are doing new things in the space.
So we have like, in it they just launched today,
they're doing liquidity hooks for money markets.
I think no other money markets
have actually done something like this.
And then we have that much and more,
even more and more like real-time driving system
has never been done by any of the previous access.
It is interesting.
I will say, interesting experiment from the team
to actually see how the users actually use it
and whether anyone tries to game it
and whether it's beneficial to the overall community.
And whether the community actually enjoys it.
So I think these are like small stuff that we do
to ensure that users on mental can have,
I guess a unique experience,
but while also having fun interacting with it.
And we also have like mental journeys
that track users on-chain data
who actually give them award them points
that actually translate to rewards.
So yeah, I guess that sums up
what are a few of the key areas
that we actually touch on
to try to improve the overall user experience.
Thanks so much for that.
I think that was very clear.
I think maybe we have time for one last question.
Before, we do a quick wrap up
and maybe a summation of everything that you discussed earlier.
One last one, right?
I think this is a pretty simple,
I think you did gloss over some of that just now.
But this goes, can you elaborate
on the measures that mental is implementing
to enhance liquidity in decentralized markets?
I mean, yeah, just say what you can guess on this.
I guess they are very different.
There are many different approaches to this.
I think the first one and then most obvious one
would be the use of the M-IF, S-I-L-S-D.
So what we are doing is we are offering users
a very easy way to get access to yields on IF.
And this helps, this yield actually translates
to, I would say, more use cases must degrade M-IF
across our entire ecosystem to access to money markets.
Then you have a better depth of a yield bearing IF.
And then you see that we are now working with Athena
and we also have the SD-USD votes
that we are speaking to solve about that is being tested.
So all of this will be our attempt
to actually offer sustainable yield bearing products
towards the users.
But as always, we always prioritize that safety a lot
and we are trying to ensure that the entire process
is not rushed so that the proper safety checks are done
in place and so that users, when they interact with it,
they can interact with more confidence in the space.
And all of this yield bearing products
will translate to more liquidity and more interest
being put in both from existing users
from other ecosystems, on mental,
and then the numbers will attract eyes from even people
from the trade side that are interested in the ecosystem.
If you tell the trade 5% that you have sustainable yields
of maybe a stable coin of 20% or maybe 15%,
they will be pretty astounded.
Of course, there's such yields are not common
inside the traditional markets.
So all these steps to introduce sustainable yields,
to introduce yield bearing products
that will be pushed heavily across ecosystems
will help to enhance the liquidity
inside the decentralized markets.
And I guess also interesting depth
that is less different from others in the space
will also help to push the boundaries
in terms of what a mining market will be,
what the decks would be,
and then help to push a space forward.
Because I feel that once you have more innovation
in a space and there's protocols
that are doing various different designs,
various different features that can appeal
to the average user where it's not too complicated,
then you will help to bring in
users that are currently outside of the work pre-climate
and they want that they are seeking
for some form of yields that electrified markets
can't provide.
So it is a slow process,
but I think we are getting there step by step, yeah.
Awesome, okay, thanks.
I think that is the last question
for this episode of DFAR Uncovered.
Maybe to sign off,
do you want to see some last words
or it can be a quick submission
of what you just said, one or two liners, if you want to.
Oh, I will lift one or two liners to you,
I'll be speaking the whole time.
Okay, I guess that maybe I can ask
and I say that the mental DeFi ecosystem is still growing
but we are still working very hard
to provide a very innovative
as a user-friendly ecosystem
for users to interact with our DeFi protocols
and yeah, watch out, keep the lookout in the space
for more upcoming developments from us.
Yeah, thanks Ed, and thanks everyone for tuning in.
I think it's also a really fun episode with Ed.
Sorry for the technical issues
that I faced at the start and in between.
But yeah, to end off,
I just want to say thank you,
thank you everyone for being here.
Shout out to Captain Nemo,
I see you here right beside my bubble for some reason.
And Brian for hosting this, I hope you guys had fun.
Yeah, as Ed mentioned,
I think many exciting things coming up for mental.
We are firm believer in building strong, building stable
and I think that will come to fruition this year.
Please keep a lookout for all these things
that Ed mentioned and also that I mentioned,
aka PixelPels, just to plug in again here.
But yeah, thank you everyone for coming.
We'll see you for the next episode again.
GM and good night everyone.
Good night, bye.