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AMA | Sui Ecosystem & MoveBit & BallastFi & Coming Chat
Recorded: Dec. 24, 2022 Duration: 0:53:26Space Recording
Full Transcription
Thank you. Hey guys.
Hey, hi.
Thanks for joining.
No problem.
I saw you guys were starting, so I thought I'd just come and say hello, but I promise
I won't hijack your conversation.
Well, no problem at all.
Thanks. . Thank you. Hello? Hello. Hello, hello guys. Can you hear me?
Yes, can you hear me?
Yeah, cool, cool. Hi.
So, yeah, You can go ahead.
Hello everyone and thanks for joining our second Twitter space with the greatest projects
of SWE network.
A short intro.
My name is Alex and I'm one of the team members of SWE ecosystem.
Today, we are pleased to share that guys from Movebeat, Ballas and Kaminchad has joined
us for this conversation.
We'll start with the introduction of each guest and then Amber from Movebeat who agreed
to co-hold this space today will ask several interesting questions. And in the end, if
we still have time, we'll let some listeners start their additional questions.
So without further ado, I pass the word to Amber.
So everyone, Merry Christmas.
I guess it's quite memorable for all of us having this creator space at Christmas Eve.
So thanks everyone for being here.
Also, thanks to Sui Ecosystem for inviting me as a co-host today.
So I'm Amber Huang from Movebit.
I think now we could, our speakers,
you guys could provide us a short introduction of your project. I think we can start from the common chat.
All right, can you ask me?
Yeah.
Okay, so Merry Christmas Eve.
Hello everybody, Yonis joined the CMO at Common Chat.
So happy and honored to be invited to a channel space.
And thanks to
3Ecosystem and Movebit for the wonderful chance to expose us more. Okay, so
if you have had access to our website, I think you will see that Kamin Chat is a social file based
web3 portal application with DeFi and GameFi functions. Now there are more than 4 million users in CommonChat
even in such a bear market.
And there are about 10,000 daily active users
in CommonChat.
Most of our users are distributed in sources of Asia
and European countries.
But I think the destination is a little bit more thoughtful,
right?
Briefly speaking, in some degree,
CommonChat is the combination and upgrade of
WhatsApp, Twitter, and Steam,
but wholly decentralized and cryptonative.
So it is obviously that
peer-to-peer encrypted communication,
cryptocurrency payment,
decentralized content sharing,
blockchain game studio,
are basic functions in common chat.
Yes. So, content sharing blockchain game studio are basic functions in common chat yes so um
don't just regard a coming chat as a wallet honestly actually we are more aggressive yes
that's all thank you
thank you um next i think we have mark from blastify hi. Hi, everyone. Can you hear me?
Yes.
All right.
Well, yeah, Merry Christmas to everyone that celebrates Christmas.
Thanks for being on this space, I guess, on the 24th.
People are probably with their families and stuff like that.
So I'll make it quick.
Thanks to the Sweet Ecosystem as well for hosting these. It's great to see other projects as well.
And the, I guess the large size of people attending these shows a lot of positive feedback or positive signals for the upcoming SWE ecosystem.
I'm Mark, one of the founders of Ballas. Ballas is essentially DeFi infrastructure on SWE. So to make it simple, we are AMM, DEX,
but looking to, I guess, branch out to more financial instruments,
like swaps, limit orders, perpetual swaps, and options.
That's a brief intro.
Okay, thanks, Mark.
And next we have, I think, is this Jacob from Clutchy?
I'm not sure.
Hey, guys.
Yeah.
So Jacob here, CEO of Clutchy.
To give you a brief background on us, we are a launchpad for NFTs, also a marketplace.
We cater to both gaming audiences as well as collectibles audiences.
We have about 50 5-0 projects secured to launch in our launchpad already.
secure to launch in our launchpad already.
And we're also building out a bunch of gaming features
so we can host all games from the SWE ecosystem
directly into our application.
And we're also building out dynamic social profiles.
So you can think of those as basically similar
to gamer profiles through Steam or Xbox,
but they can be very easily integrated into any game
or any application across the suite network as well.
So that's just a very, very brief overview of us
and what we're doing.
Okay, thank you, Jacob.
Yeah, so maybe I can give a bit brief introduction
about what Movebit is doing.
So Movebit is a security company specializing in the Move ecosystem.
And the MoveBit team already have 10 years experience in the security field
and also over one year in the Move ecosystem since exactly when the Move language started.
So we also published the very first smart contract report on the MOVE ecosystem.
And recently, we're also working with Omni BTC swap to publish the very first auditing
report in the SUI ecosystem. And I think I already know Jacob from Klachi and also Mark
from Blastify. And we are constantly building partnership in the suite ecosystem and it's
good to see that more projects is coming and um you know like clutch as a as a launch pad at the
nft marketplace and also blastify as a dex also coming chat as a d app so it's good to see a lot
of projects coming to the suite ecosystem ecosystem. And also, Movebit
team recently got the grant from Sui Foundation. So I guess it's an early Christmas gift for the
Movebit team. It definitely encouraged the Movebit team to devote ourselves more to the ecosystem.
Anyway, so that's the situation here with the Movebit team. So I think next we have a question,
interesting question for Blastify and also comment chat.
So what do you guys think the most difficult thing
when building on the Move or the three chain in particular?
Maybe...
Maybe...
The most difficult thing is
I think the developer network
upgraded and restarted
weekly. As you know, at the beginning
of participating in the mobile system,
we took a lot of time
in learning
the language and then we suffered a loss
on account of the result of developer
test night. The data of many active days we meet are missing and have to be suspended.
But it's also the thing with a sense of accomplishment for us.
We are most concerned about MOVE and about SWE,
and always being the first project successfully after we did the SWE wallet incoming chat.
Besides, as a new language,
there is a lack of infrastructure such as Oracle's developer tools, and therefore we have to
independently develop many of the developer's tools by ourselves, and we have submitted 20 reports in awesome move such as Go3 SDK and XBTC and 3AMM swap.
We also use Go3 SDK to apply for 3GAM successfully.
Okay, I see.
Yeah, definitely for new language,
as a new language for building the state ecosystem,
we definitely need more infrastructure
to help builders to build and also survive the ecosystem.
Yeah, next, I think maybe Mark,
you have something about the challenges you met.
Yeah, can you hear me?
Yeah, yeah, yeah.
Yeah, I mean, obviously, Move is an upcoming world.
It's very nascent language.
It's practically identical to Rust.
Our tech team is, let's say, Rust native or has experience on Rust.
There has been a bit of a challenge there.
I think Move is also kind of in discovery mode,
so there's a lot of help, I guess, like on the dev chats.
In the beginning, I mean, Mists and Nubs has improved quite a lot
on documenting, I guess, the libraries, etc.
So as of now, we haven't had too much difficulty.
I think I'm very looking forward to see how the ecosystem develops
in terms of developer tools and just tooling in general
to see how people that are a bit less tech-savvy
or don't have technical founders can also, I guess, take part in the ecosystem.
But I'd say for us it's been okay.
We obviously have a bit of luxury here because there is a couple of months
still on DevNet. We are working on DevNet.
There's a lot of upgrades, so we do have to reboot
and upgrade ourselves
so yeah, besides that
everything's been pretty smooth
Okay, cool, cool
I think probably
next year
we will have the
suite mainnet
so we will see what will happen
and definitely there will be much more projects coming in
um yeah so uh for what about jacob uh clutchy uh do you have any opinion on this one uh yeah i
would say overall our experience has been very very positive we really enjoyed getting to grips with the move language specifically the sweet version our team largely also has a rust background and has built on
a couple of rust specific blockchains in the past as well um in terms of challenges i would say
like yeah there's definitely an absence of tooling at the moment, but we see that actually as quite an interesting opportunity.
So we've been co-developing things like standards for NFTs and to some extent tooling as well, alongside some other partners in the space.
For example, Origin Byte, who are a company that focuses specifically on tooling and standards, and we have dialogue with lots of other teams as well.
So we've kind of really enjoyed this process, actually,
because I think when you look at things like standards
and you look at tools across other ecosystems,
often they are kind of built as, like,
things are developing within the space in real time,
which means often they can miss, I guess,
what's a good way of articulating this often they can be developed
with maybe sometimes a narrow view
or without any real idea
of what's going to be happening in the future
and future use cases
obviously that's always a problem
but I think there's a real interesting opportunity
to build out some tooling
and some standards on this ecosystem
with some lessons learned from what's
happened in the past and what's happened in other ecosystems as well. So every time we see a
challenge, we see an opportunity. I would say the biggest challenge actually though is just the fact
that we're still in DevNet and TestNet looking up to move into incentivize TestNet Wave 2.
And the biggest challenge there is that the network gets wiped from time to time
um and changes are being made uh which impact the way that you build right so for us building our
uh our launch pad for example and some of the technology there um we keep having to change
things um which is slowing us down our ability to be able to go live um but it's not a huge problem
right like that's the part,
I guess that's a big part
of being part of an elite ecosystem.
It's a huge opportunity
and it's incredibly interesting intellectually.
So for us,
it's a trade-off.
Things are often changing
and it's difficult to predict
what's going to happen,
but at the same time,
it's a great opportunity.
So yeah, that's what I would say.
Thank you, Jacobob well said yes i agree challenges usually means opportunities yes so yeah cool cool so um yeah i think we can move to the next one if if there is no more opinion on this one.
So yeah, so the next one is in the opposite.
What are the main advantages of building on Sui?
Like if you have any experience of building on any other chain,
it will be an interesting thing to compare the other chain and also say.
Anyone, have you ever?
Yeah, Mark?
MARK KUCHENKOVANI- I guess from me and from our team,
I think Jacob said it pretty well just a few seconds ago.
It's obviously like a very nascent ecosystem.
There's a lot of standards that don't exist.
There's a lot of things to do.
I think there is a first-mover advantages because this ecosystem is kind of in discovery or exploration mode or phase.
So there's a lot to do.
I think, yeah, most of the,
I assume that most of the projects building
on SWE right now are not necessarily looking
to do one trick ponies.
I mean, there's obviously a lot of good references
that, or protocol models that exist in other ecosystems
that could be ported over to SWE
and I think it's good to see teams
that are not necessarily restricting themselves
to do like one trick ponies
but to actually develop I guess several features
or several units of a product
to have a more complete, I guess, set of features.
I'd say, yeah, one of the main advantages beyond just the tech side is simply,
I mean, sky's the limit, right?
There's everything to do.
I guess the counterbalance to that is teams do need to prioritize and focus on
what makes sense on long term. But yeah, there's a lot of opportunity. I think just from the
NFT side of things, there's a lot of projects or teams the same kind of models or replicating things that exist on other ecosystems
or on EVM chains, for example.
I think that's great, but there's also other teams
that are actually innovating in the space
and bringing something new to SWE,
but also something new to crypto.
So I think those guys, those people,
well, have hit it on the head,
and that's what's going to push, I guess, the ecosystem forward.
For us specifically, we are looking to bring the trading suite onto SWE.
That's obviously something that, well, an ecosystem needs to thrive,
so that's, I'd say, the key part that we're going to play in it
great great Mark um yeah I agree like the sky is the limited and 3 is still in early stage.
It definitely has a lot of things can develop compared to other chains.
So, yeah. Anything from coming chat?
Okay. So, well, 2016, we have developed a sidechain of EOS, and in 2018 we have developed ChainX, the first relation based on substrate.
And we have experience developing in many many EVM chains.
Compared to them, in our mind, 3 is the best storage chain. Why?
The first is that a sub-second fast response, and the second is because the concurrent storage of. Why? The first is that a sub-cycling fast response, and the second is
because the concurrent storage of owner object, and the third, the slightly higher than the gas
fee of cloud storage, and finally, the sustainable rental storage economic model supported by storage
fund. And besides, we all know that the structure of Bitcoin transaction is based on UTXO model,
but Bitcoin doesn't have Turing complete contract programming platform.
In our mind, OBJECT is a higher level abstraction of UTXO model, which can make UTXO not only
stay in simple functions such as financial payment and transfer, but also make any atom
in the physical world
be coded with object abstraction.
For example, mutual characters in games,
we can abstract each character into an object.
And even the characteristics of a character,
such as hair color and size and clothes,
and be abstractly described by objects.
I think that's why we select to build on SWE.
Good.
Good.
Awesome.
We have similar views.
So we see there being plenty of advantages to building here. We really
like the SWE version of the
Move language specifically,
less so like the Aptos version, although
it's still great, because
it just enables you to do some really cool things.
As coming in chat, we're just describing
the fact that everything on the blockchain
is kind of like an object instead
of the conventional way
that blockchains treat
assets so like things like the fact that nfts and then the metadata within those like the
characteristics like hair color or whatever else can also then be objects or nfts within other nfts
so it opens up a whole world um i guess for innovation around composable and dynamic asset experiences, composable dynamic
NFTs that can change under different circumstances in a way that's just significantly easier to
build than on other chains.
So we really like that.
We also like the scalability, especially in relation to gaming, NFT related, consumer
into gaming, NFT-related, consumer-related use cases.
related use cases.
So the fact that not every transaction has to go through
a really laborious and slow consensus model,
and some things can kind of be fast-tracked
in a very simple way of thinking about things.
That's super interesting for gaming use cases for us,
and that's one of the big things that attracted us.
There aren't many other blockchains
that use um a similar
type of architecture um we also like the plans for on-chain data storage so you don't have to
sit around and wait for all of your images to load in your wallet necessarily or on your marketplace
like that's also very interesting um for us and for the use cases that we're optimizing for so we
see some really big advantages to building here specifically.
Some which should open up the door to innovation
across not just gaming,
but then also like the world of collectibles.
So yeah, for us,
we see very, very clear and distinct advantages
to building here as opposed to other chains.
And just to let you guys know,
I'm going to drop off in a second
because I'm getting in trouble.
I'm supposed to be on holiday. No yeah no worries bye yeah thank you thank you so much
yeah so yeah um i think definitely efficient transactions on sui definitely is one of the advantages compared to other trends that Sui has.
And yeah, I think we could pass this question.
And the next question is for Blastify.
Yes, Jacob.
Do you have something to say?
Okay.
I think he said goodbye.
Yeah, we can just move on.
And so this question is for Blastify, for Mark.
So could you please tell us more about your plans on perps and options since there isn't a lot of info in the Blastify white paper?
Yeah.
Okay, so, I mean, we're obviously early days here.
We are, I guess, like a bit of an update
for the people listening as well.
We will be releasing our V1 on DevNet early January,
so probably first week of January.
That will be on DevNet.
Users will be able to test out the initial functions
of what's on v1, so we're talking executing swaps,
creating pools, adding liquidity, removing liquidity,
basically everything that a user would need
or expects from an AMM and DEX.
That kind of constitutes a V1, which will come out on DevNet first week of Jan,
so don't hesitate to stay updated or, I guess, turn on your notifications because there is incentives here for people that, I guess, adopt our platform early.
That being said, we will move on quite quickly onto V2. V2 is essentially
a central limit order book where market makers can come and plug in and users can execute limit
orders or market orders, similar to what you'd expect from spot trading or a centralized exchange spot only.
So I guess coming back to your question, V3 and V4, now this is still a couple of months
down the line.
Our goal essentially for perpetual swaps is to offer up to 20x leverage.
People, I mean, obviously it's decentralized,
so no one is holding your assets, etc.
And essentially you can expect as a user the same kind of experience
if you were trading perpetual swaps on Binance or,
well, not FTX anymore, but I guess a better example is actually DYDX.
So DYDX, which is built on Starkware
if I'm not mistaken, those guys have perpetual swaps
and we are going to be offering a similar solution
to that. In terms of options this is even further down the
road than perpetual swaps so I don't want to share too much information
about it now.
But essentially, again, offering a user-friendly and on-chain convenient platform so that more, I guess, more experienced traders can access a new type of financial product.
There will be several types of options within that feature,
There will be several types of options within that feature,
but we will be rolling them out as we go along
because there are a few more parties there
that we need to conclude conversations with
before actually talking about it.
This is probably 9 to 10, 11 months down the road,
so we still have a far, I guess guess like a long way to go until then.
I guess it's good to talk about what's upcoming, but there's still a lot of hurdles before we get to v3 and v4.
Okay, it's good to know that Blastify is constantly building and preparing for more on-chain and user-friendly functions as a text.
Yeah, I think we have next question for coming chat.
Since we are talking about Sui here, could you please tell us more about what coming chat is building here?
Well, first we have developed the first mobile wallet supporting SWE developer network now.
Now we named it as Omni Chain Wallet and now it has a part 12 chains including EVM chains,
and now it has a part 12 chains including EVM chains,
Walsam chains, Aptos and SWE.
And second, we are doing demands.
It is, as we told you before,
a wholly decentralized Web3 Twitter,
which will have its own technomics on SWE.
You can create, like, share, reply to any content you like.
Now it can be experienced in SWE developer network too.
Besides, we have deployed
chat GPT in demand.
Imagine that
not only can you
interact with your friends, but also AI.
Isn't it cool?
And third,
later we will develop
the blockchain game studio on SWE.
And we will also deploy the settlement system of OmniBTC on SWE.
Then SWE will be eligible to maintain all the on-chain liquidity and assets deposit in our protocol.
And finally, we plan to make a general open source retrieval database of the relationship between accounts and objects on SWE.
database of the relationship between accounts and objects on SWE.
We will set aside a general object API for other teams
doing constructions on the SWE network to use.
Yes, we will develop more and more developer tools
for the community and developers in the SWE ecosystem.
To get more info and experience of a project, I think you can visit the Tarpeh Tresher profile.
All the links and updates are contained in it.
And if you have any questions, please feel free to DM us and we will be thrilled and happy to answer the question.
I was at CloudChain.
Okay, okay, sounds good.
Yes, exactly.
So all the audience today,
feel free to follow Blastify and Common Chat and also CloudChain
so you guys can know what they are doing right now
and what they are going to do in the future.
And so you want to miss a chance to involve in the SUI ecosystem.
Yeah, so I think that's all the questions for today.
And is there any questions from the audience?
You guys have any questions for Blastify, Comment Chat, or Movebit?
Just raise your hands so you can be the speaker and pop
up your questions yeah thanks Amber for your great hosting I think I can proceed
with this one I think Ravi or Ravi sorry requested to speak one second I'm granting the okay Ravi can you hear us
look looks like there is some problem with connecting. Just wait.
Let's...
Oh, he's out.
Okay.
So I'm grinding access to the next one.
It's DJ Oberon.
One second.
Yep, here you are.
Hmm. Hello, can you hear us? Hello.
Thank you, guys. I just want to know, do you think this is the right time
to suite to launch the project?
Because we know the situation for market
is not good for today.
Will you consider to delay this project for good situations?
delay this project for good situations?
Well, as I know, we don't have the exact dates of the launch of the CUMA in it, so it's a hard question actually, but it's always nice to be launched during some positive
of the markets.
But we'll see, I guess.
I can't tell you exactly, but we still have time to check if it's okay or not.
Well, Amber, do you have anything
yeah i mean uh i think the the three foundation they have this uh tool was due for the three
ground uh next year for the awards tour right all over the world with multiple cities involved
you can definitely uh keep an eye on that.
And I think a lot of projects is coming to the Sui ecosystem nowadays,
especially from my part because I'm talking to projects day by day
and I see a lot of interest and also passion about building in the Sui ecosystem. So I would definitely suggest to keep an eye on the new projects coming in and also keep
an eye on the Sui World's Tour.
I think it's from the Sui Foundation.
So they will keep giving Sui grant for those projects who are, you know,
devoting themselves to build the whole three ecosystem.
You can definitely keep an eye on that as well.
Yeah.
So that's from my part.
Yeah.
Mark, I think you have something to say.
Yeah, I think it's a very valid question. I mean, we've seen over the past couple of years,
protocols that didn't necessarily launch before the bull market
or the previous phase didn't necessarily pick up as fast as others.
So I guess timing is somewhat key.
I think if we, I mean, this is obviously not financial advice or whatever,
or whatever, but the market is in a very
but the market is in a very bad state.
bad state. We haven't necessarily seen, I guess, the whole
domino effect of these previous weeks, let alone the macro
market, the macro tech market going through the floor.
I think, yeah, we're in place for a
couple of rough months, maybe a year, but
I think this is something that people have seen.
Well, we've seen these market cycles several times in crypto.
Yes, there wasn't necessarily a worldwide recession or I guess like very bad macro fundamentals,
but I think for SWE itself, it's a highly anticipated chain.
There is technical beauty here.
But I would agree, timing is important.
Unfortunately, in crypto, it's not just about the tech.
It's not just about how technically beautiful you are.
It's also about being loud and noisy, unfortunately.
There are ecosystems that aren't necessarily, well, they're not innovating necessarily, but they are loud. SWE itself and Mistin Labs and the foundation and all these participants, we do need to get to reach out to the wider crypto scene rather than just be within, I guess, like this SWE community.
I've seen other ecosystems fail because or not pick up necessarily because they haven't necessarily got out to the wider scene.
I mean, obviously there is EVM, which is huge,
but there's also, for example, Solana.
Now, Solana picked up very well because they had very strong backing from centralized exchanges pushing out that narrative,
pushing out that volume,
and that obviously contributed to a big portion of their success,
similar to BNB, who had Binance, similar to BNB who had Binance,
similar to Matic that had Binance as well, backing them, right?
I think SWE needs that strong backer within the scene
who's going to push forward.
Sorry, I'm just drifting away a bit from the initial question,
but I think it does tie down to what defines success here
for Sui as an ecosystem.
Yes, yes.
I think Mark gave us an overall quite detailed answer to the question.
I mean, DJ Alboro
yeah
thank you very much
okay thank you
thank you for popping up your questions so
any more
questions from the audience
yeah we can proceed with
the next one
his name is
yep go ahead please hello hello can you hear me yes thank
you I have a question from the very first we were working in testnet, but it's working in devnet now.
Whenever we do, it's reset. Should we keep our work like that? What's your guidance about it for us?
What's the guidance about what, sorry?
Should I repeat?
I didn't send the question.
Maybe the others have.
Could you please repeat?
Sure, sure.
I am from the very first place working in testing, but it's working in DevNet now.
Whenever we do research, should it keep our working like that?
What's your guidance about it?
Okay, I think her question is, they are doing research about speed, right?
And it's only on DevNet.
So, you're using materials for reference?
Well, I mean, there's obviously the SWE documentation.
There's learnmove.com.
But I think, I don't know if to answer the question,
if I understand it clearly, it's...
Well, to give you an update,
I guess SWE is rolling out their second testnet,
the Wave 2, right?
So you do have to be patient, I guess.
Probably a couple of more months now.
Okay.
I don't know if that answers the question.
Yeah.
Yeah, so,
Noor, do you think your questions got answered?
I was just wanting to know,
who is working in DevNet now?
It was TestNet in before, but it's in DevNet now.
Should we working like that?
Or whenever it works in it, it just gets reset.
We collect DevNet tokens, it gets reset.
Should we working like that?
Or is there any guidance for us?
Yes, currently it's on DevNet.
You can play around.
Most of the dApps that are being developed are on DevNet.
Thank you, Belist.
Okay, thank you Mark. Thank you, Noor, for your question.
Okay, so we can proceed to the next one. Let's see, Mohamed, I'm granting you the access.
Hello, Mohammed, you can speak.
Hi, Mohammed, you can feel free to propose a question.
Hello?
Yep, looks like he's somewhere out. Let's see, somebody else.
Okay.
Well, there is someone with quite hard names, so I just let him or her the access.
With the Jesus PFP.
Hello, can you hear us?
Hello, Good morning.
Or good afternoon.
Yep, good afternoon.
Earlier, I heard when DJ Oberon was talking about delaying the launch, and there was an
example about Sulana. Well, I feel Sulana launched in the boom of everything.
Sulana, one of the things I think Sulana left is,
no matter how dumb and Sulana may feel or anything,
I still actually have friends who actually trust in the project.
There's still a trust level from the,
no matter how the um influencers are
busy saying whatever they are saying or the um people who think they know much about crypto and
the signals and they are all giving i majorly feel like there's a trust level solana has left
even if solana should come back today and start up something or there is a little growth in solana i'm going to tell you no matter what people say you're still going to see a lot
of people jump into the project so i wanted to ask is is so you're going to still stick to their um
initial promises because one of the problem most people have is when they find out that whatever they stated earlier,
they are not actually following it.
Like there is a present, there is a problem ABC method,
I don't know if you guys have heard about it.
They brought out a plan for their project.
And when it was getting towards the period,
they're bringing up some talks, some talks, some talks,
I said last year, I think last year,
around last year ending, November, October, and all the rest,
they had so much people interested in the projects. And over time, they are actually even trying to launch a blockchain,
this thing, this network.
But presently now, people don't
actually feel
the vibe of it, if you understand
what I'm saying. So I wanted to say that
is what's going to be
the most important for the
switching? Is it going to just be
about launching
during when there is
the bloom of
the...
Hello. Hello. Salam. Salam.
Hello.
Hello.
Hello.
Hello.
Hello.
Are you ready?
Yeah. Okay. hello thank you yeah okay so i'm so i'm i'm here to say that i feel um i don't know but is it about
the trust first or is it more about um launching at good times because there will always be good
times and there will always be bad times and i I know some crypto projects that have launched during bad times
and they are still on today doing well.
And there are many who launched during the good time
and they are nowhere to be found today.
So I just wanted to understand.
Thank you very much.
Thank you very much.
Does anyone want to answer that?
Yeah, yeah, Mark, please go ahead.
I think... I don't know if it's per ecosystem.
I mean, when I was talking about Solana,
it wasn't necessarily talking about trust.
It was just more about timing.
And the backing, sorry.
So, like, obviously having FTX and pushing forward that narrative.
I think the next cycle will obviously be a bit different.
Obviously, EVM is very dominant.
They have the most thriving ecosystem in the space, but there is, I guess, space
for competitors, there's space for candidates that are non-EVM to explore, I guess, things
that, or potential that you can't necessarily cover with just EVM.
You can't necessarily cover with just EVM.
To answer your question, I think...
Well, Solana's case, yeah, they launched at the right time.
We obviously don't have, like, crystal balls, right?
I think, yeah, I mean, the next cycle is obviously going to happen at some point,
and SWE should be in a good position there. I think it's good that they're taking their time. Aptos had a very rushed launch, and now they're kind of paying for that rush. SWE's approach is more, I guess, like stable. They are testing things out better. And I guess, generally speaking, it's looking more positive.
and I guess generally speaking, it's looking more positive.
So yeah, hopes are quite high for SWE as an ecosystem,
and I hope that the developers and the teams that are building on it
also see, are also able to take time to test things out
and perfect their products.
I think trust is obviously something that you can't just earn overnight.
Things do take time, and I think Sui's approach is aligned with that.
Yes, I think Mark really did a quite good answer for this one.
one so yeah uh so nesakwisi i mean do you think you were uh without answer mark i think yeah
yeah he he he actually did a good job with that but what i was just trying to understand what i
was just trying to understand was i was trying to make sure that the more important thing here should be about the...
Because one of the major problems I feel Aptos made was Aptos did an airdrop and there was
this...
Everybody...
What everybody went in there was to just grab the airdrop and whizz out.
I feel they should be more like some incentivized airdrop sense.
More like, as you are given an airdrop, it should not be claimable at once.
Then, with time, people who, then there should be a promise, something like a promise or something.
The airdrop should be devised in a manner whereby you staying on the network for a certain time during the airdrop phase,
or even after the airdrop phase, you have been promised something.
It gives people the hope that, okay, I'm going to continue using this network.
You see people trying to browse and make sure, I mean research, and make sure that there are ways they could use the network that will be profitable to them.
And with the hope of getting something later on that even
um uniswap people still use uniswap today a lot of them not because not necessarily because
they enjoy using uniswap there is this sense of wow uniswap can just wake up one morning announce
an airdrop very huge airdrop you if you understand what i mean so it keeps people on their feet but when there's just
this calm you take your airdrop if it's if they say five percent people and you you bring out um
your the token generation um event you bring it out your time and they are saying okay it's 500
million tokens for the airdrop and over 100 million tokens is being a dropped at the first
instance there is a very big problem and a flood there because you start finding out people their mind is okay once they take that airdrop
they are gone whoever stays with the network it's their problem well if you keep a if you keep a
sense whereby okay we are we are giving you an airdrop maybe there's 500 million um tokens for
this airdrop there is an initial airdrop of 200 million,
claimable of 20% for
the next five months.
And then the claim period, apart from
the claimable period, you also have,
as you are using it, you
get some points. At the end of
even Firefly Testnet
are on it. They brought out
this thing of, they have brought out the
Pioneer, they brought out the beta testers, they brought out this thing of they have brought out the body pioneer they brought
out the beta testers they brought out so many things every stage has its own token or its own
reward so i think that is keeping the the um this thing they are they are more of a this thing
a swap also a trading a platform they are keeping their trading platform busy like presently now they are actually
trading with real funds so i think i don't understand but i think um that's what i want
to understand that you said trust is not built in it actually people people try most people try to
look at the beginning how you will begin to say okay are you guys keeping with what you guys said
or today you come up and say the time is not really nice or we had
a little delay and by the time you guys keep postponing postponing most people just lose
interest and that's one of the first thing that people just use to just lose trust in the particular
projects whether the project be good or be bad people now they just feel like anybody can scam
anybody you understand what what happened with the FTX?
So when they start seeing some kind of stories from here, stories from there,
that's the end of the project.
No matter what you do later, people will only come there for the gains
and they zip out later.
Thank you very much.
Yeah.
Thank you so much for sharing your ideas and thoughts.
Well, guys, I think we are a bit running out of time, so we're going to finish this.
First of all, I want to say thank you to Amber for a great co-host in this space today.
And congratulations to you and your team on the recent grant from
CU Foundation. I haven't heard about this actually prior to this space so it was quite surprising.
Also thanks to our guests today. I wish nothing but success in the new year. I wish you Merry Christmas and Happy Holidays.
Merry Christmas.
Yeah, thank you one more time and bye-bye, guys.
Bye.
Thanks, guys. Bye-bye.
Thank you, Mark. Bye.
