Yeah, you can hear you loud and clear. Okay, that's better. Thank you. So guys, welcome to tonight's Agents Around Channel. If you're less waiting moments while the Agents channels, or we should get started shortly, thank you.
Can you guys hear me alright? Lower on clean. Great.
So guys welcome to tonight's agent on Runtable. We'll feature some of the core, the Abidinal Secret. This is about our updates, what they are up to, and I'll probably send back that space in the core, many times. So guys, tonight we have a special guest with us. We have Shade Protocol.
We are representative RedBee. We talked about the recent updates from the shape of the protocol, the launch, and also what it seems to achieve at the end of 2023. Hopefully, it's going to share with us some alpha.
guys are before we dive into tonight's space we have a customer tradition here we love to get to know who our speaker is and we love to know a little bit about our background so could you please introduce yourself until I was a little bit about your background yeah first off
Thank you for having me on here to speak with you guys on behalf of Shade Protocol. If anyone has not seen me around the Seeker Network ecosystem before, my name is RedEyeBair. My professional background, well let me just start over.
For shade protocol, I mostly focus on marketing and operations, but my professional background is in operational management. I got introduced to the Secret Network ecosystem in late 2021. I think it was right as Secret
Secret Network became IBC compatible. Initially started working with some smaller teams in Secret Network trying to help out as a community member and eventually worked my way into working full time in this space. So I'm incredibly happy to be here.
Glad to have you here tonight. Well, it really made me laugh. The old geezer with us seeing a building with the above. So for those who are new to this space tonight, we have to cherry and shit protocol.
and shape put the call is the beings of secrets network. So for those who are about shake, could you please tell us what shape put the call is for those who really don't know what shape put the call is?
So, shade protocol is an interconnected system of private by default DApps built on secret network. And all of these different applications are all interconnected and accruing value.
you back to the shade token and the treasury. So right now we've got, I believe, five or six different DeFi applications that are within the suite of DeFi applications.
Okay, so finally, but it almost normal about shade. I will suggest we see that website. Shade puttercord.io can you check out our website to check out the defy application. Also, of course, I will be telling us more about that soon. Okay.
Let's take a look back at 3222 for the call. Kind of give us a quick recap about what the mice doing achieved in 2022. Yeah, so this kind of goes back to when shade protocol really became, you know, a part of the secret network community, whenever
I guess it would really start with when Shade did their initial airdrop in February of 2022. And then from there, I believe it was April of 2022, we launched Steak Secret, which was a, or which is
a liquid-staking derivative for secret, the gas token and the cover-nets token for the secret network. And since then, seen incredible growth in the liquid-staking derivative adoption, even before these liquid-staking derivatives were able to be used to another shade defile
applications. So that's been incredible to see. In August we launched Shade Bonds which I believe was the first bonding instrument that was available in Cosmos DeFi and what Bonds are is effectively it allows
users to purchase shade or other protocol owned assets at a fixed price without incurring any slippage. So it's really a nice opportunity for anybody who wanted to buy large amounts of shade or any other protocol owned assets at a fixed price.
And then in December, December was actually a really, really interesting month because we launched the shade generalized IBC bridge and we also hosted the Cosmos Stablecoin Summit. And so both of those were really important because
As we start to really look at how these applications fit together in this larger puzzle, the relevance and impact of them becomes a little bit more easily seen. The bridge is something that at the time I've seen
something that might have not been as important, but an incredible piece of the user story to the onboarding into Secret Network and into Shea Protocol's D apps. And so since then, we've seen some really,
really nice usage and planned improvements to the bridge and I'll go into some of the stuff we're expecting to see in the future in just a little bit. Yeah, and then we saw an incredible turnout and support for the Cosmo Stablecoin
it. It was really great to see multiple projects come together and support this proliferation of decentralized stablecoins in the cosmos. All in all, 2022, 2022,
was a great year for building in preparation of like putting the building the the groundwork and getting ready for when silk was launched which basically takes us into 2023.
I can't now. Oh, sorry about that. I think I had an issue with the connection. So I said if I could recall, shit with the car was the first interchange in cost most, which was really amazing. Yeah, and it was a big learning point for the program.
protocol as well. I guess that kind of kicked off our drive to continually improve the user experience and the user interfaces to improve the expectation for what private DeFi is going to look like in
to improve the expectation of what improvements and iterations on some of these instruments that are being used in DFI. And so the cross-chain air drop was definitely a very interesting feat. And we learned a lot about the value in preparation and
extensive testing before and we kind of, we implemented those changes that we wanted to see going into 2023 and as a result we saw a much smoother launch of our of our of our main products that we launched in 2023.
So talking about 2023, so currently it's because I was about, oh shit, what a cool kick to the beginning of the year. Also, could we see it was a great start? I would definitely say that I'm inherently a little biased, but
But I would say the start of 2023 was definitely on a positive note. We kicked off an incentivized testnet series that ran from mid-January to mid-March and three different rounds of incentivized testing.
different aspect of the shade protocol connected suite of applications. And we had over 8 or 1. We had over 3,000 unique individuals participate in the test net and received about 8,000 different
feedback submissions that helped us improve the UI/UX fixing bugs in any smart contracts in the front end. And so that was incredibly helpful for getting us prepared to launch these products. We had the token
migration to the new SNP25 standard, shade protocol built a very easy to use in seamless migration interface that's directly on app.shadeprotocol.io. Any user who had older SNP20 tokens could
natively on secret network already, they could easily migrate those tokens to the new standard and be used in private DeFi. And that was, we haven't seen any issues with the migration, which has been phenomenal to see. And then, yeah, we launched ShadeSwap and on April 12th,
and then we launched Shade Land in Silk on the 19th. And so, to me it almost feels like it was just yesterday that we launched them in. Yeah, this 2023 has been a phenomenal start and excited to see what comes next. We've got a lot in the plans.
Yeah, that was really awesome. That's cool. So talking about immigration, I think some people don't understand the difference between the 20th and the 25th standard. Could they please explain a little bit
about the difference because some are used to this nip20, talking on secrets. But when she put calls about to launch, they brought about immigration to sleep in five standard. So what's the major difference?
So there are, you know, I am not a developer or a technical individual, so I can't really get into some of the more nitty-gritty details, but the main differences are there was some additional
privacy protections added to the new tokens standard as well as the addition of timestamps and block heights to these token transactions, which is incredibly helpful for
compliance reasons. It's, yeah, anyone who has to pay taxes on any of their crypto transactions will understand the value of having these timestamps and block heights.
Yeah, thanks once again, so guys if you guys are at my great your talking to these are 75 standout are please can't leave to soon now so you need to make his of shit swap so no so let's get down to some of the unique
features of Shade Protocol, Shade Swervas, because we've seen several decks on Cosmos, so all our Camusai Shade is different from all these decks and how unique it is and what other problem does this have?
Yeah, so I guess I'll start with some of the main differences that I think are really unique features. And I guess I can start at the where the list begins, which would be a stake secret.
So stake secret is really interesting as a liquid-staking derivative that exists as a smart contract because trade protocol put a lot of thought and design work into being able to make sure that
The secret that is being state is being done so in a decentralized way. The inclusion of validators in the set of the secret gets state to. They are chosen based on performance.
So they want to incentivize validators that have good up time. They are voting. They are active in the community. They are performing. And so that is a really interesting feature of the
of the liquid-staking derivative that shea built. And, you know, I try not to
describe privacy as the main feature of some of these applications because in our eyes we want to build a product that truly stands out and then privacy is like the cherry on top. It should be the expectation but
people have gotten so used to operating in a public sphere or at least in crypto. So, but all of, you know, this, the liquid-staking derivative that shade bill is private by default because it exists as a smart contract. So then we can look at potentially how is shade swap different?
So, shade swap is in a really unique and interesting place because it exists as a hybrid deck. So, it utilizes two different curves. It utilizes a constant product market maker curve for swapping of volatile assets.
you would expect to see on traditional Dex's, like if you were to go and try and swap an easy example would be if you were to go and try and swap Adam to Osmo on Osmosis that would be using a constant product market maker curve. But the other curve that ShadeSwap utilizes is a asymmetric curve
concentrated liquidity curve. And so this is really interesting and innovative in the sense that traditional concentrated liquidity or symmetric concentrated liquidity was already a huge step up from the constant product market maker curve because this allowed assets to be
or it allowed liquidity to be concentrated in a very specific region. And this is applicable primarily for stablecoins. Traditionally, two one dollar pegs, stablecoins that were trading with each other. The ideal trading range is
right there at a dollar and so with concentrated liquidity you could probably concentrate most of the liquidity within you know one or two cents above and below that ideal trading price but with asymmetric concentrated liquidity this gives the protocol
a much more granular way to control how that liquidity is concentrated. And while that might sound not very applicable, it's extremely applicable for trading of liquid-staking derivatives in their
underlying layer 1 assets. The reason that is, I'll just give this short answer for why that is, is because liquid-staking derivatives generally don't trade above their redemption and venting rate. Because if they were, a user could simply stake the underlying asset, mint out the derivative, and immediately sell it on the market.
and capture that profit trading rate or that profit. So generally the liquid-staking derivatives trade slightly below their redemption rate. And so with this asymmetric concentrate and liquidity, we can concentrate that liquidity slightly below like the liquidity that would be
traded above that redemption rate, we can instead concentrate it slightly below that redemption rate and provide an even more optimal trading experience for liquid staking derivatives. And so as a result, liquid staking derivatives are kind of the backbone
of shade swap because right now it provides the most optimal trading experience for anyone trying to swap liquid staking derivatives. And then I can stop here if you happen to have any
questions or I can continue on to talking about silk in Shadeland if you'd like. So I could continue on the on Shadeland and also Syracuse. I think this is one of the most important discussion of this space as well.
Okay, thank you. So then if we look at oh, I would also be remiss if I said that Privacy doesn't play an extremely important part in shade swap as well as Swaps are 100% front running resistant and so this is also
a really nice feature for power users or anybody really trying to leverage the power of the asymmetric concentrate liquidity on Shadeswap. You don't have to worry about those larger trades that you're trying to do being front run. I just wanted to add
that in there real quick. So we look at ShadeLend. What ShadeLend really is the primary issuer and the primary stability mechanism for silk. So what ShadeLend really is is it allows users to collateralize their assets
Right now we have five different assets that can be collateralized to Mint Silk. There. ST-ADOM, ST-Osmo, STAKE secret, and USDC and USDT. So, users can collateralize those assets.
whatever sort of loaned a value ratio they'd like to choose. There are max LTVs for each of these different vaults, but users can choose to borrow within a certain range, silk against those collateralized assets, and then use that silk
to do whatever they might want to do. There are a few different things people can do with soap right now and it is definitely shade protocols goal to continually increase the utility of soap both within shade protocol and outside of
network. But with ShadeLind, one of the biggest differentiators is because of secret networks privacy preserving smart contracts, we were able to
create an environment where private liquidation points for individuals positions is completely private.
users positions are relatively
a little bit more safe because their liquidation points can't be hunted, so to speak. So individuals with large amounts of capital who wish to potentially
make the market move in a particular way to have a series of liquidations start cascading. That potential to hunt liquidation points is not possible on secret networking.
That is a big value proposition. And then we kind of get to silk. And silk is this whole other beast. It is, you know, I kind of consider it this next generation stable coin because of there are so many different aspects.
of it that we're trying to iterate on. The first of which is as far as I'm aware, this is the first private by default stablecoin that has ever been created and it was built on secret network.
It is a reflexive stablecoin that is pegged to a basket of currencies and commodities. There are two parts of that statement that also
are big differentiators for silk versus other stable coins. One being peg to a basket of currencies and commodities is a very
distinct decision to not peg silk to a dollar because we wanted to be able to, one, we wanted silk to be able to provide different properties for users.
who wanted to hold silk or use silk, but also it provides a little bit more
protection against any potential monetary or regulatory policy changes regarding sovereign currency derivatives. As silk is not
to any particular sovereign currency, it is not considered a derivative or a reserve currency. It can be really thought about kind of like an index currency. There are currently
6 assets that are included in the silk currency basket. There are 4 currencies and 2 commodities. The currencies are the US dollar, Canadian dollar, Euro and the Japanese yen and then the 2 commodities that
are included are golden bit coin. So this basket of assets that silk is pegged to, this is not indicative of the collateral backing of silk. As I said earlier, the collateral backing for silk is primarily liquid-staking derivatives and
other stable coins. We have plans to continue to expand the amount in types of collateral that's accepted for silk. But right now those are the assets that are accepted. But the peg is something completely different. So anyone who's interested in
and kind of seeing what that peg looks like in real time. You can go to app.shapel.io/ I think it's backslashsilk. If you just go to app.shapel.io, there's a little silk tab on the left hand side just like that and you can see the performance of the peg in real time.
and you can see the breakdown of what of the peg composition. And so the last critical piece that differentiates silk is this reflexivity. And this
This is really interesting because I think anybody who takes a look at global markets and the global economy is able to see the volatility that's existing now, but the volatility that's existed in history.
The reflexivity that silk has allows not only the composition but also the weightings of the composition of the basket to be changed as global macro economic conditions change. So, for example, in the future
If one of the assets that is included in the PEG is extremely inflationary or is not performing the way that the community expected it to, then through governance
Assetting can be removed, added, and weights can be changed up to certain percentages. Obviously we want to be conservative with any changes. We being the community of people that are holding silk and shade want to be conservative with the changes that we make. We don't want to be
We don't want to necessarily over-correct the ability to make those changes and to adapt to the global environment that we're operating in is an incredibly powerful feature of silk.
Well that's really interesting. Anyone you seek as much liquidity and also is being bugged by server. Stebu, Fiat Stebu, Corvice and also bugged by Godazor. I've never done my research on silk and regarding scheduling that really also.
the first of these types in customers, I think, which is really great. So talking about some of the recent announcement made by Shade Protocol in the involvement and secret search, this is also one of the big topic in customers at the moment. So coming to talk about Shade in involvement
What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it? What are the ways to use it?#
or a secret network with the launch of all the different applications that have, well, with the applications that have recently launched and the upcoming applications and tools that will be launching in the near term, I think this is going to be a net positive to help bring attention and action
within private DeFi on secret networks. So I think the liquidity incentive campaign is going to be a net positive in general, but shade in particular being able to participate in this is also an incredible thing. Right now, there are five different
current pairs on shade swap that are incentivized. Three of those are silk pairs and the other two are steak secret pairs. So, in incentivized pairs are silk USDC, silk USDT, silk steak
secret, shade stake secret, and secret secret, stake secret. So all of those pools are earning external incentives in the form of V secret. So what V secret is is it effectively represents vested secret.
And this vested secret can be redeemed at a one-to-one ratio for stake secret, shade particles, liquid-staking derivatives for secret, they can be redeemed at a one-to-one ratio through the utilization of shade bonds. And so, for the duration of secret surge,
users will be able to earn this vsecret and unlock it using shade bonds to be able to redeem this liquid-staking derivative secret. And what's cool about this is that, you know, there's whole time that, I mean, effectively you can hold this vsecret and
know that the stake secret that you're going to redeem it for is continually increasing or its redemption rate is continually increasing. So it represents that the underlying asset is accruing staking rewards. So it's a really cool concept.
I'm incredibly happy that the Secret Network community and Secret Lab supported this endeavor to support private DeFi on Secret Network. Yeah, it's been really cool. I don't have any metrics right now about the end
increases in TVO and some of the other DFI statistics that we might want to look at since Secret Sturge started, but yeah, it's an incredible thing to see and I'm excited to see the other DEXs on Secret Network starting to get those external incentives flowing as well.
So guys I believe you've heard it so if you want to participate in the incentivized liquidity program being won by Sibin Network and SQL app, kindly check out sheet blog and also general community. All other things will be making announcement on their pages as well. The page for sheet put cloud
We still can also stick stick secret as well. So guys make sure you are following the protocol. Jenna comments to find out my permission regarding. Yeah, and I would also suggest going to and subscribing to shade protocols YouTube. We've put out tutorial a few days ago.
on how to earn and redeem the secret on ShadeSwap and explain all of that in the tutorial. So definitely go check that tutorial out if you have any questions or just want any clarity about the process with earning and redeeming the secret during secret search. Okay guys, if you need to get on also
Also, yes, another question. What are other plans you have for the rest of the year? I believe Chida has been consistently building on. We expect much more news or probably updates from the Indian Air Force. So what are the plans you guys are committing?
Well, we've got internal goals that we'd like to see met, just growth metrics for what we're trying to hit and what we want to see. And then we've got development plans for new products that are coming out.
As far as I'm thinking about some of the milestones we've hit so far, I think currently we're sitting at 6.7mm in TBL and silk supply of right around 1.5 million and considering silk is
You know just over a week old shade swap is only launched two weeks ago This is incredibly encouraging to see the growth that we've seen but or by no means done or by no means complacent So kind of looking forward to what we've got in the future. I will say that
I'm not going to be able to give too much alpha here. I would just say your best chance of getting some really good alpha is going to be listening to the dev update call on Friday. So that will be, let me just make sure today is Thursday, right?
Yep, sure is. So the dev update call that Shade Protocol is going to be hosting tomorrow. Definitely encourage you to listen to that. That's where we're going to be giving the most detailed updates for what we're going to be looking at in the future. But effectively in the short term, we've got
shade staking that is going to be coming out soon and with that is going to be the unlock of the rest of the shade air drop. And so it was going to be two really interesting things Kat
kind of happening at the same time. And then also going to see some really nice bridge improvements for bridge V2 to basically help with the on
the boarding process for users coming into secret network, puts in really great inspiration from osmosis concerning, you know, providing these, you know, gasless swaps.
We want people to be able to onboard as seamlessly as possible. So bridge V2 is going to be incorporating a FI grant that basically helps facilitate that onboarding into secret network without having to have this gas token for secret.
to be really, that's one of the things I've enjoyed the most is been watching the improvement of the UI UX. Anyone that's in this space right now who participated in the incentivized testnet can probably also speak to
how much the applications improved, even just a bunch of small things leading to overall a much cleaner experience for interacting on these apps. And I challenge everyone
to go and use the application and check it out for yourself and see how much the user experience has improved on Secret Network.
Man that sounds really awesome. I have a lot of users ask me when she is taking, when she is taking guys with her team. In short, they are launching she is taking so steps in regarding that. Also, if you love to hear more from Shetputko, kindly join their call to know what the depth call.
What is the difficulty held on? What time is it? So it's still up to date on journey difficulty. The DevCall is going to be a YouTube livestream and I believe it is going to be hosted at 1 p.m. CST. I'm like 95% sure. That's the
time. But we'll be putting out announcements shortly so people will know exactly where to find it. If you follow the Shade Protocol account on Twitter, you'll see the announcement of Dev livestream and the link for it. Okay, thank you. So guys, the stuff today to Shade Protocol
please can leave follow them on twitter and also general community check out sheet protocol website abdotshetputacord.io you could see other applications binbied on shake also don't forget to participate in the secret search currently live on shake checkout appears and also watch YouTube tutorial if you need get on poor value liquidity within me or any other guy you need from shake
So yeah, we're still going to launch a trade private as well with Cheswabas. So guys make sure you're flaying the community and also make sure you stay up to date with all the other side of the numbers that will be coming from Shadeput. So yeah is also the last question. What can communities
do that's coming to that of interest and share what kind of due to engage a community. Yeah, I would say the easiest way to join and engage with the community is to join our discord. That is where we coordinated all of our incentivized testnet
And that was an incredible feat for the community to participate in. You know, for incentivize or not incentivize community engagement, the discord is definitely going to be the best place to do that. I would also encourage anyone who is looking to learn more about the protocol as a whole or
the applications, specifically the token understanding silk. I would highly suggest one following our YouTube channel, definitely subscribe to that as we're going to be continually putting out tutorials to help explain some of the finer details of the applications walking through, walking people through
how to actually take some of these actions, how to understand some of the more complex pieces of these applications puzzle. And then I would also, for anyone looking to read a little bit more, I would suggest looking at our protocol documentation. If you go to shadeprotocol.io, that is the landing page.
for shade. If you scroll all the way to the bottom you'll see links for the documentation and that contains full protocol documentation there. So for anyone like myself who enjoys a good binge reading on DeFi applications and technology that's where your happy place is going to be.
Yes, thanks so much for sharing that info. Okay, now let's leave you room for questions. So if you have any questions, we got in shapeswrap, silk, shade land, all the things
with such which is quite the life please kindly request to speak we have more time to assign the question and I'll say while we're waiting one other
One of the things for people to look forward to is in the near term, I can't necessarily give a specific date for this, but in the near term we'll be putting out some new and improved tokenomics information. We've received a lot of feedback
back from the community regarding some of the more economically token focused information. And so we're definitely wanting to prioritize that. Also, I want to point out if anyone has any suggestion
at any time for how we can improve the application for if you're experiencing any problems. Please feel free to click the support tab at the bottom of the application page and provide a ticket
for whatever it is that you have a question about or having issues with will be more than happy to answer your question and get back to you on how we can help you resolve your issue. And for anyone that has any questions, also discord is a phenomenal place to ask any questions that you might have.
Okay, let's wait if anyone has a question that they can speak. Okay, guys, we are waiting. If you have any questions, please come to get a question to speak.
Also, don't forget to follow Shade's protocol and also subscribe to the IT China JNR community if you have any further questions. And of course, if you need support, if you don't, JNR community, other
website as red as mint mission. You could just click on the support icon and you could probably provide feedback if you have any issue to report. Can you use the support?
Yeah, well, I'll just save one other quick thing.
It's been incredibly encouraging to see the support from the secret network ecosystem and other ecosystems within the cosmos supporting the vision for shade protocol and you know kind of our steadfast
support for digital privacy. It's actually been really cool to see groups outside of Secret Network that recognize the passion, recognize the vision and the determination to provide
this incredibly seamless private defy interaction that will eventually long-term looking forward into the long-term leading to real private real-world interactions and use cases.
So I'm incredibly excited to continue helping foster some of those relationships and helping not only get private DeFi out into the cosmos, but helping people realize the power of private DeFi within Secret Network.
Thanks so much for all you do, you guys are in Vietnam, amazing product. Okay, I think we have a question from a newbie, so newbies are please can I ask a question?
a new bus here actually um I do have one question but also uh Johnny had requested speaker and then it looks like dropped out so Johnny if you if you want to request again uh go ahead we'll we'll get you up here um then uh just
This first of all, I just like to say, I love the protocol, been playing with it a lot. It's just awesome to see a nice smooth and sleek decks on secret network. I was just wondering, and it's okay if you can't share anything, but I was wondering
I know I've heard Carter talk quite a bit about Shade Dow. I was just wondering if there was any details that could be shared on what the Shade governance roadmap looks like or if there's any new details we could get.
Yeah, I appreciate the kind words and I appreciate you asking the question Unfortunately, I I can't answer that question You know with with the launch of
The next priority is for our product launches is definitely going to be shade staking, airdrop, improvements the bridge.
Yeah, I have no information unfortunately on the timeline for that Carter would probably be better poised to answer that. Gotcha. No problem at all. It was just serious. I know the
The team has to be very swan right now with all the chaos and excitement of the breakneck pace of getting everything launched and then once it goes live, any of us that they have done something like this before know that that's when the
the work really begins. I will say that the majority of the development for shade governance is complete and with the way it is currently built, it's going to be extremely robust.
You can kind of tell some of the things I talked about like silk's reflexivity and adaptability. No, this is a direct byproduct of shade governance. And so they were going to
to be the power that shade governance holds is going to be really, really interesting and powerful. And so don't necessarily want to rush that, especially as we're focusing on making sure that the products that we recently launched have launched smoothly and that everything is going as expected.
Yeah, absolutely understandable. I know. There's a lot, a lot planned, a lot in the store. So, no, that's awesome. There is a
question from Silla in the comments here. It says, "A question for shade team, by end of year, what milestone do you hope to achieve?"
Hmm. Well, I guess it depends on, you know, if we're looking at a particular, particular device to test it, like if we're looking at total silk circulating supply or if we're looking at
you know desired TBL adoption of our liquid-staking derivative. I mean we have internal goals for all of these things. But I would say with the power of
With the power of the asymmetric concentrated liquidity, our goal is definitely to be the trading hub for liquid
taking derivatives in the cosmos. And so that is something we're going to continually be pushing forward for as far as numbers.
I mean, yeah, having a number goal is important, but at the same time, we don't necessarily want to hyper-focus too much on that because we could lose focus on all the other things happening. So I know that was kind of a roundabout answer, but hopefully that provided some clarity.
I think so. It shows where your focus is and in my opinion, addressing the foundationals versus it's a very important focus. There is one more
question here from boy BTC in the in the comments looks like he's in a noisy area so couldn't use the mic. He's asking when will shade staking go live?
It's a great question. So, Shades Daking is set to go live. We haven't announced a date for that yet, but it's set to go live in early May. So, relatively soon,
Awesome awesome. I think a lot a lot of people looking forward to that I Think that's the only questions I see in the comments and I haven't seen a Anymore request pop up yet
but we can maybe give it another minute or so in case there's anybody that wants to pop their hand up real quick. Yeah, I really appreciate everyone asking questions and I think
You'll also notice if you join any of our social channels whether it be telegram or discord or on Twitter We try and respond to everyone that we can or always more than happy to answer questions when we can provide
provide any suggestions for how to do particular things that you might be trying to do, how to understand the protocol, always happy to answer questions. So I appreciate those who are coming up and asking them.
Okay, yeah, no, boy BTC requested to see so I think he has another question here. I was just gonna say I'm
I've seen from my personal experience, I definitely agree that the State team is very responsive and then just attack onto that, the whole community as well. So if it takes a couple of minutes for a team member to
respond usually one of the community members is more willing to help it in those channels as well. Boy BTC, if you want to just hit the microphone button to unmute, go ahead and ask your question. Hello, good evening guys. Can you guys hear me?
Yep, all right my question is on this secret storage that is currently ongoing with the $4 million award. Yeah, and then it's I saw that it's you can participate in or be a particular diary word from adding liquidity in any of the
Dex is on the secret network. So I want to know how how the reward didn't make me be like we'll be like let's say the higher the liquidity you provide the higher the rewards you receive and then we learn is there any like minimum let's see amount that you can't
add to liquidity for you to qualify for the reward system. Thank you for asking your question. I appreciate it. There is no minimum for liquidity that you have to provide in order to earn V secret.
I will say each DEX, the rewards that you earn, might be different. As far as I know, none of the other DEXs are giving out rewards in the form of V secret. But for shade protocol, all you have to do is provide liquidity, mint, and
Sorry, uh, yeah, mint and steak your LP tokens. So whenever you provide liquidity on shadeswap, um,
Whenever you're about to approve your transaction, you'll get a choice to either just mint your LP tokens or you can mint and stake your LP tokens. So in order to earn external LP rewards or LP rewards in general, you have to stake your LP tokens. So if you want to earn VC,
and shade during this secret surge liquidity campaign you have to mint and stake your LP tokens on shadeswap. And so there are five pools that you can do that. It is silk USDC, silk USDT, silk
So if you were to click on any of those pools and scroll down to where you see step two in the liquidity provision interface, you'll see the two tokens that you would be earning there. You can click a small drop down and you can see
the actual addition to the APY that the V secret is adding. And so when you provide liquidity, you can choose to un-stake and withdraw your liquidity instantly. There's no unbonding time, which is really, really nice shade
is very committed to keeping that instant unbond and you can claim your rewards at any time. It rewards are given on a per block basis. So at any point during the day you can come and claim your rewards then all you would have to do is take your v-secret and go to the bonds
page on app.shade.particle.io. Go to the bonds page and you'll see a bond for staked secret and you'll see the vsecret asset on that bond opportunity. All you have to do is bond your vsecret and it will be redeemed for a staked secret after that unbonding period.
Alright, alright. I understand now. Thank you very much. And nice hope you guys got there. Thank you for asking your question. Appreciate it.
Thanks for asking the question by BTC. Also in case you missed it, a secret story is not live, so it could be just from BNS much seen on the actual, can't leave the seeds, secret net or websites, check out the article on secret story and then it could be just from BNS and also from
of course if it does include user experience and also security, decentralization and privacy by default as well. So guys, it can also bridge your system from those things. So it has been great having read eye retours tonight's this way there has been really been interesting and outlined some of the recent updates from Shade Protocol
as well. And with the launch of Silk, Shade Lane and Shade Swap, I believe there's more big efforts coming to Cosmos ecosystem when it comes to DeFi and Shade is probably one of it, which is really awesome. OK, I think let's give it one more minutes if there's a little question before we end tonight's space.
Also thanks to everyone who joined tonight's space. It's really awesome to have you guys a so listening to what we have been in our secrets Yeah, I was gonna say thank you all for joining this Twitter space and listening. It's been great seeing the crowd that's here. Hope you all
learn something and encourage you all to interact with the shade protocol applications and if you have any feedback please give it to us we're more than happy to take that feedback and incorporate it. I'm sure there are many
community members can attest to feedback that they've provided that was incorporated into the design or their suggestions being noted and used to improve the application. So all feedback is welcome.
Okay, if there is no any other further question, I guess we've come to the end of tonight's space. This space has really been awesome and interesting. Thanks so much for joining us, Red. Also, thanks for joining us, you know, shit protocol. And thanks to everyone who tune in into tonight's space. It's been amazing, you guys.
Genie knows and let's meet what we are building and hopefully we hope to see in our next week's space where we will be featuring the new DR from Secret and to discuss more about what are building and any of their good map as well. So guys, thanks so much for joining us tonight. Do have a wonderful evening. Day or morning. Cheers guys!