Hi guys, this is Rebelify on the Orbital Command account. I am going to be here from Orbital Command as well.
at the moment just three of us in this space. Today we are going to be talking about a lion's IBC, all that kind of good stuff. There's a prop up on station for voting right now. Looks like it's passing at the moment, so I think it'd be nice to dive into that
a bit more find out what the proposition is all about, what it's going to mean for Terra, what it's going to mean for Alliance, what it's going to mean for us in the ecosystem. We'll just wait a little bit longer if anyone else is going to drop in, but MB house life today.
support for this TFL Alliance proposal. That's great to see. Good stuff. I can see we've got Stargay's punk in the House Lowell and Prince X rocking the GP. Good to see you guys. If you want to come up at any stage, ask anything about Alliance, not that we're necessarily experts. We're just
fans. If you want to talk about your understanding of Alliance, that'd be cool as well. So yeah, feel free to step up to the stage at all. This is not like a top-down thing. It's all about community and how we think we can build back on Terra and across the entire course.
- That's the right one. Keep it casual and kind of round table. Yeah, atmosphere is ideal where people come up and have something deep to talk about. Great if they have something. A simple question they'd understand that's even better because probably I'll be one of them that is interested too.
just looking at low-wasteless, they look like Stargaze glasses, pretty cool. We have invited a few people from TFL and such to see if they want to sort of come up or if they're available anyway to tell us their thoughts on this proposal.
M.E. are you able to talk about the proposal itself, just give us a bit of information about the actual proposal and what it means to you and such like I've actually got to just rush off and do something at the moment. I am in the space, I am here, I will be back.
And hopefully we've got a few more people coming in, but laws there, laws listening. And this is a recorded space as well. So it's not, you know what I mean, it doesn't matter if people aren't here live. Hopefully it's going to be a bit of an audio record of the journey towards alliance.
Absolutely, it's a line's proposal which as I said, looks like passing was only a look at its the aim is to incentivize other chains to
adopt Luna within an alliance asset that they create on their chain, which I think is really positive. I think the problem I think designates the first ten chains
that establish a lunar asset they will receive incentives from Terra. And I think that means that how those incentives be received, I think that for every chain that establishes lunar as an alliance asset on their chain,
Then, establish an alliance asset using their chains token on Terra, which will then receive a portion of staking rewards from Terra. That amount, I think, is about 3%, which will be split up depending on how many
of these alliance assets are a white listed on Terra from a foreign or partner chains. That's my basic understanding of it. The proposal then goes into the mechanism of how that would work and involve an alliance token.
which is I believe is kind of proxy to help with spreading those rewards between different and adjusting the amount of rewards which align, as I said, would receive under this program. So yeah, that's like basically the
standing up if you're there, Rebel. I'm just opinion with any incident you have. So what else I'll see what else is on this? Well, I mean, there was the whole, yeah, there you go, Rebel. Sorry, there was the whole thing about this.
It does seem quite complex towards the end of the proposal.
Yeah, somewhat. Yeah. So I've just pulled up in front of me here and having a look. Make sure it's the right one. Yes, it's the signaling proposal.
So yeah there was this stuff about like making another token or something and that's the part I'm not fully I mean it sort of makes sense when I read it but I still don't have it sort of fully clear in my head
to discuss it without a text in front of me. Yeah, I have it in front of me and look it describes, you know, the of this alliance token as a virtual token. So I think it's really a proxy or a mechanism to divide up. Yeah, the
the rewards and allocate them to the different alliance assets that result from these partnerships. So let me see if I can find more on that here. Intermittation.
So, upon the proposal's passing, TiaFell will develop a smart contract protocol that minso creates a virtual staking token that can be added as a Terra Alliance asset. So, that's part of a
future governance proposal and this terror alliance asset would be awarded a 3% reward weight. Let me see this token will represent the total amount of lunar. Staking rewards that can be distributed to all the LSDs
each of the first ten chains meet the criteria in the proposal. Yeah, okay, so yeah, I would love to learn a bit more about how this is going to, this mechanism is going to work. It seems, the simple on the surface probably has quite a lot of complexity underneath.
And it's interesting that it's just the two of us in this space.
are we the only two people interested in alliance at all? But I mean we do have some alpha that we can drop. It's not a secret alpha, but
a lot of time scale or a potential time scale around this proposal. So the proposal is almost finished voting in a few days but then how long will that or what's the timeline?
Yeah, I believe so those voting should be for another three or four days I think and let me check the actual implementation of the proposal.
including the mechanism that we discussed before. I think it's going to take another month if I'm not wrong.
I'm not sure if you caught that rumble, but I'll keep... I keep reading the proposal and trying to find out a bit more about the timeline that you described, that you asked. Do we... do we have you had a meeting with them?
We can sort of, I mean, I think the timeline was going to be pretty quick, relatively quick, weeks as opposed to months. So I think that's quite exciting.
Yeah, I think let me see in the comments. I don't know if you have it in front of you, but let me see. So the proposal suggests using a warp integration to enemies.
to help with the mechanism for this proposal once it's implemented. And I think someone asked a question in terms of timeline and let me see, yeah, approximately one month.
from one of the TFL team. I think Javier. Yeah, look that's all going to go pretty fast I think.
Okay, we've got another listener here. So that listener's going to become the speaker straight away if I can bring him up. He looks a bit familiar too. Yeah, I wonder if he is going to be speaking or if he's just that
just the recording face. I'm not sure. It would be interesting to hear fins understanding of alliance. I mean the fact that there's not many people here I find interesting in and of itself. Yes. Either we're just boring to listen to
or maybe just a lion's hasn't captured the imagination. Which is captured by imagination. Yeah, me too. Look, absolutely. And I think you're right. And part of that is that perhaps
But not everybody understands it fully and what it means and how it can be used. I know that some people, for example, have tried to stake a line to assets by a station and have experienced a few glitches
or problems and have had to work it out by a TFM which has worked apparently but these kinds of things you know create a bit of friction in terms of the trial and error testing these aligns and
And then there's the whole concept of self-overlides. I think what it really means and how it will really add value to the terry system. I think it hasn't really been articulated yet as well as it will in the near future.
I've been sort of called away to another meeting, MB. I know this is not conducive to having a great conversation on a Twitter space. I don't know if you can hold the fort here on your own or not, because there's not really anyone else in apart from him.
I could, but Pima, or do you want to just call it a day? Yeah, look, it seems to be quite tonight or today, wherever you are. So yeah, we could always call it a day and regroup another time and get a bigger crowd.
Absolutely, right, I do apologise for that. And yeah, we did kind of promote this as well. Thanks for dropping in for me, Pima. Oh, with a bit of a feedback round that's nice, Thailand flag, respect. Yeah.
Let's carry on our discussion about Alliance in the coming days and the coming weeks. Thanks, Ambi. Speak soon. - Excellent. Thank you, Rebel. Thank you. Bye.