GM GM and happy Thursday we have and very exciting AMA we are going to
Discuss about real world assets on Arbitrum and churro is going to be our guest host and Arbitrum contributor that will be leading this AMA
So, yeah, let's get it started with explore the core. Oh, yeah
Yeah, thank you Anna for the intro
And yeah, I'm super excited about this AMA
I think this is like our first explore the core series where we talk about real world assets
And so yeah, I just want to thank you guys again for coming by and joining us today to talk about
everything real world assets, so
Without further ado, you know, I want to give you guys an opportunity to introduce yourselves
As well as talk about a bit about like what you guys are working on
in the Arbitrum ecosystem, so
Without further ado land X do you want to kick it off with some introductions?
So we're land X where obviously a real world asset protocol
And we specialize in tokenizing
agricultural commodities and bringing real crops that are produced by real world farmers on chain, so
Just just to make sure and draw delineation
We're talking about corn rice wheat and soy that's grown out of the actual ground and by farmers all around the world me
Tokenize those agricultural commodities bring them on chain to make them tokenize real world assets
And we also provide lending services for the farmers
So we extend lending services to those farmers who participate in the protocol who then?
Pay their their loan payments with the commodities and the crops that they grow and harvest
They're not paying with fiat currency that you know continuously loses value
They're paying in the corn that they harvest out of their field
So it's a win-win both for crypto investors who don't have access to tokenized
Commodities don't have access to agricultural commodities in the crypto world and to farmers who desperately need lending services
But the majority of the time and in all areas of the world just don't have access to them
Or if they do have access to them they are
Incredibly exploitative unfair terms with incredibly high APRs available in
Traditional financial institutions, but very excited to be here. I'm looking I'm looking forward to this discussion today
That is super cool. Yeah, I'm super excited to learn more about
What you guys are building here and we also have home coin home coin. Do you guys want to introduce yourselves?
Yeah, thanks for having us home coin is
Lending protocol based on lending for homes just like getting a mortgage in the US today and it's backed by
40 41 homes right now that are on chain and we bring that that collateral of a house, which is one of the biggest
Purchases people off to make and one of the most valuable and bring it on chain using the the lean system in the United
States which is a decentralized way of tracking who owns what property and then we're able to lend against it using home coin and
Have people use that that I could even get
Good rates and a bad product on the borrower side and then get people anywhere in the world access to that
Ability to be part of lending for homes, which is valuable thing, you know, US mortgages are a super stable transparent
Fed holds about one-third of its balance sheet in mortgages, which is trillions and trillions of dollars
So it's it's a massive space and something we're excited to bring on on chain and bring to the ecosystem
Yeah, and we also have uranium 308 do you guys want to give yourself a quick intro
Yeah, it's fully. Thanks. We're really happy to be here and appreciate the opportunity. Thanks everyone for joining us
So we're uranium 308 and basically we've tokenized uranium and brought it on chain
so the idea behind that is that each token is physically backed by one pound of uranium and
Embarked on this mission mainly because uranium is a unique commodity and asset and that it doesn't have a spot or derivatives market
It doesn't you know trade
24 it doesn't trade on an open market like gold or silver or copper where you have, you know
continuous price quotes you have liquidity you have
Transparent pricing you have derivatives for hedging and our idea here is to help create that spot market
With the hopes of eventually also creating a derivatives market as well and to make uranium trading and access to uranium
Available to a much wider audience then has historically been available
Cool yeah, I really love how each of you guys are focused on different areas or different verticals
within the real world asset space, so
Yeah, it's really cool to have you guys together
And we also have chase from the partnership success team chase. Do you want to give yourself a small intro?
obviously chunk on Twitter I
Focus on infrastructure partnerships mainly on the partnership success team at off chain labs
But as sort of like my side passion project
I like to work with the art of UA teams because I think what what?
These guys are doing bringing
assets on chain is it's super super interesting in ways, you know, you can unlock liquidity globally for
You know something a little bit unique and exotic like like uranium
And you know to kick off the conversation
I know each of you guys have
Different origin stories of how you guys got into this space or what inspired you guys to build a
Yeah, I'm really curious to hear about your stories. So home coin
Do you guys want to start off with like the origin story of home coin?
Something I enjoy sharing it, you know, I started playing with crypto back about 2014 2015 right when the theory and launched and
Really got captured by the idea of being able to take something so powerful and decentralized and transparent in the world
More broad and I think that's you know, what we're talking about real world assets. You look at things
They really would make this possible to scale up to
Much much bigger than it is today
And so I've also been dabbling in the mortgage space and have a mortgage startup that we started about six years ago called loan snap
Those two things eventually just came together as we saw
If I summer in 2020 and the little stable coin
Different things people tried their you know, things are just straight back by fiat which is in a bank
And as we've seen in the past couple years, sometimes that's not all it's cracked up to be
Those kind of things you see the algorithmic ones that have the ups and downs are seen right?
And so having something that that's just backed by a house just kind of like
Actually the US dollars is fairly much backed by by mortgages today treasuries and mortgages and
And so be able to take something that we knew about
Bring it on chain in the decentralized transparent way was really exciting. So we started building a
Couple versions maybe three four years ago tried a few things and then
in 2022 launched home and home coin
Started lending with it, you know brought
44 million dollars with the home value on chain about six seven million lent out to to homes and
Really have seen some good growth is something we're excited about with the size of mortgages in the US
It's about two trillion dollars a year originated in the amount of collateral when you look at
home can do to power people starting new businesses with that debt or
Putting like it's college and all sorts of things that that supports and
Literally part of what we we wanted to do here
Awesome, yeah, it's really cool to hear
Landex you want to give yourself
the opportunity to share your origin stories and once fired you guys to
Build a real world asset platform on arbitrum
So a little over three years ago. We actually started with a slightly different focus. It was always
farmland oriented, but our approach at that time was to
Purchase and fractionalize farmland the farmland itself. So ownership of the farmland fractionalize
land that's being farmed and then
Utilize NFTs to make them available in in small amounts for investors
But what we bumped into there was it was pretty hard to find
Enough farmers who were willing to part with their farmland as many people can imagine
Farming is a way of life for a lot of families all across the globe
It's not specific to any region and this farmland stays and families for generations and generations
So outside of the fiscal motivation to retain their property
emotional attachment to the land so we then pivoted and
Took a step back and thought to ourselves. Well, what what makes farm land so valuable?
Everyone knows that farmland is one of the most profitable asset classes available
Across the world. That's why
billionaires like Bill Gates and Ted Turner have so much of it, but it's valuable because of the
Produce that it provides so we then pivoted and like I said took a step back and had a look at why it
was so valuable and decided to target the
Production of that land. So it again was a win-win for farmers who could retain their land
receive some assistance when necessary for expansion or for
sustaining operations and we could then take essentially the best part of
farmland and tokenize that and make it available to
crypto native investors and digital investors, so
And as far as Arbitrum goes, I mean, it's a no-brainer right every everybody's on Arbitrum. So
It's just the the intuitive destination for projects looking to expand their user base
Yeah, I think it's really cool about what you guys are building especially like the focus on farmland
I think that's like super interesting
But yeah, I know Ryan. Do you want to go over the origin story of uranium 308?
Yeah, we can't hear you my bad, we can't hear you you sound like a robot
No, I'm getting I'm getting yeah, it sounds like there's a connection issue
Yeah, okay, you want to like pop off and rejoin I think you're good
I think Ryan and him are in the same room so I can kind of take this one over if that leaves and futures markets
So things like copper silver gold, etc
Uranium that doesn't exist and what I mean by that is there doesn't currently exist a way to actually
Express direct exposure to uranium outside of a few niche traditional finance options
But as it relates to what one knows for most commodity markets
It doesn't trade on the CME the LME etc
So the point is that for us it was an application of tokenization to express what we wanted to trade which was direct exposure to underlying uranium
And trade at a tighter spread to spot at the same time
Create a situation whereby for the first time one can actually take physical settlements of the underlying uranium as well
So basically operating how a futures market
Does for most commodities whereby one can either take financial settlement or physical settlement at the same time providing exposure
It's what the team believes is going to be one of the most
Impactful commodities over the next couple of years and probably our lifetime frankly
The vertical that you guys are working on is is really interesting
And you know talking about the state of the real world asset
Ecosystem, I know like back in
It was such a different world
where we didn't have these types of platforms where
Users have access to real world assets, but you know now in
It has evolved extremely like we have different types of verticals
So I'm really curious to hear your thoughts on like the current state of the real world asset ecosystem
And what are you guys really excited for this year?
Yeah, absolutely. Thanks. I'll take this
So, you know in terms of real world asset tokenization, I've been in the crypto space since about 2015
And even as far back as then, you know, you'd go to
Conferences or events especially like do you know the crypto Mondays events in New York back then where it would be in the basement of some
Like place in Chinatown and to be like 20 people there and they'd be talking about tokenizing art or tokenizing real estate
And I was even working in 2017 with a real estate tokenization
project where they were trying to you know fractionalize ownership of real estate and
The idea back then I think was more ahead of its time than it is now and the technology and the ability has finally
You know and the markets knowledge has finally caught up to what people have been trying to do and you know
There are so many cool projects out there, you know
Landex home coin and you know a bunch of others including ourselves are putting some really innovative
thoughtful projects out there
Especially on you know protocols like arbitrum and they're helping, you know democratize access to you know
asset classes and creating asset classes where access didn't really
previously exist and by fractionalizing ownership of things like uranium or land or homes or are
I know some guy who wants to tokenize
and fractionalize ownership of a collection of Stradivarius violins that he that he owns and
You know just things like that are you know unlocking opportunities and bringing liquidity to illiquid assets
in a way that you know, just previously wasn't really possible and
I think by you know, what enabling people such as ourselves or others anywhere in the world really to
You know the the upside or the potential opportunity provided by
access to these asset classes is a unique moment in time where
Where the button would agreement where stock markets were created that was a unique moment in time
And I think we're on the precipice of something similar to that and it's it's a really an exciting place to be right now
Think that's true and we're excited about how much scale there is to come from it. You know, I've seen crypto take
Steps along the way that scales up and each time some new thing gets unlocked
It really opens up the minds of a lot of new people that come in and makes it a little bit easier to use
More stable and so seeing things like
What you're doing. Come on
Want to open up liquidity in new places where there's just not enough in
traditional markets, but then also see things like
Mortgage and some of these other really huge spaces that can benefit from the benefits of desensitization of transparency and
You don't the wallet being able to transact and not have other people in the way those kinds of things
We think we'll really bring crypto into the forefront and help it scale up to a you know
We should say the next billion, right? And of course, there's still some user experience things to solve and
So those but but people will get around those in order to have these new experiences
We for example, one of the first funders that came to home coin or not. Sorry borrowers came to home coin was in the US military
And said, you know, one of the problems I have is just making sure that my mortgage payment gets paid
every month when I'm potentially deployed and
With this I just set up my wallet it goes out every month, you know
And I know it's happening and I don't have to worry about the bank getting in the way or messing something up
so you see those kind of things where this technology really makes opens up a lot of new abilities and
So it solves problems for people in ways that some of the existing ones just never could
Yeah, I had a question. I think it's really interesting and I'm glad we're doing this face with
because I think of you guys like a lot of people think of real-world assets and they think of like
Treasury bills or private credit
But you guys are like truly like real world physical tangible assets
It would be great if you guys could
Walk us through like talk about how you acquire and if there's a custody component how you actually custody
You know land we see what have you would love to would love to learn more about that
Yeah, sure so I can kind of jump in here
So a brief overview of the process that lands some of these real-world crops on chain
starts with a farmer who's seeking
Lending right? So maybe he needs a loan to purchase a new tractor or put in an irrigation system or something of that nature
Landex and we have operators in our in the field in different regions of the world who are already known
farmers in their region, so these could be
officials who are in agricultural co-ops or they could be
Just senior community members things of that nature
but in most cases the the
blockchain and real-world farmers
Is a party that's already known to to that farmer so they would approach the
Representative of Landex and say hey, I need to borrow
I I'm willing to commit my crop
Share is what we call it. So a percentage of my total harvest to pay this loan for its duration and
Then we move forward. So of course, there's a lengthy and in-depth verification process that
Has a number of different factors
Like satellite imagery to verify the historical levels of vegetation in that area compared against
farmland yields so we can verify the accuracy of the information that we're receiving regarding how much
Corn or wheat rice or soy that this farmers producing but afterward
harvest their crop every year as they normally do and
What they've harvested so they're their yield their real crops for that year a portion of that is then
funneled through the local
Representative of Landex called a validator
So not a typical validator like you would find, you know, not a computer on
Blockchain network, but the person who's acting as the liaison between Landex and and the farmer
Those crops on the open market
Chicago Mercantile exchange prices to guarantee
A fair price is received from that and then that is applied to the balance of the loan
You know, whatever percentage is paid will obviously be
ratioed to principal versus interest
But that's how it stands right now
However moving forward we are looking into working with some of these local
Store some of those commodities in facilities, you know silos and such so we can
Facilitate someone who wants to accrue a stockpile of those physical assets who would then be able to
go and you know put their hands in in the corn or
Take away some of the soybeans
However, that's like I said a concept that we're we're entertaining and doing some
exploratory work into but at the moment
Everything is handled as it normally from a farmer's perspective
Everything's handled as they normally would do business. So they harvest their crops
they want to sell those crops so they can pay for the next year's planting costs and
expansions things like that, but some of those
Commodities from a farmer's perspective are going to a different person who then basically
Currency that's needed or crypto that's needed to meet loan payment obligations
You know part of what we realize early on is that this is definitely a problem for real world assets
right, how do you make that connection to the chain and have people feel like there's great trust and and transparency there and
having these validators or
Proof of reserves or those kind of things
I think what we looked at with the
Homelanding is that the key piece to bring on chain and have connection to the real world is just the house itself in a mortgage
That's the collateral if someone doesn't pay there's a foreclosure process obviously never want to do that
But but that's part of the process. And so at least in the United States, there's 3,000 counties local government that
Instrument can can be attached to the house in a way and it's very open. It's a public record
It's called a lien and so we took just that lien that's registered at the county on the public record and turned it into an NFT
Links back to the public record usually on the internet
Some counties still are back in the old days and you have to actually walk into the courthouse and look at it
But at least it's visible and audible by anybody who wants to go
You know, it's not a bank account where a specific person has to open up and look at the reserves
but and so those NFTs represent for example a
Piece of value of the house maybe a hundred thousand dollars
That represents that mean or ability to to take a hundred thousand dollars from the house when it's sold
So that's really the key the key piece and that I think is what makes the protocol so
Interesting in the space as you minimize that trust layer beyond that everything else happens on chain
You know the one someone brings that enough tune they've got representing their house into the lending protocol
They they stake it effectively take some home coin out and then they can trade it into fiat or use it in other crypto markets
To do things in the real world that they want
Thinking out through Coinbase or whatever kind of place they used to get fiat or turn it into something and maybe lever up on
People do do crazy things in the crypto space. So
But then the payments come back on chain, you know
there's some people that don't want to have to deal with the user experience of the chain today, and so we do have a
Company that's in service as long as take the payments and fiat turn it into crypto and then put it on
Onto the chain for them again
That's a little bit of extra trust and centralization that we're trying to avoid and want people just to make
payments directly on chain with their wallet, which some of our borrowers do
I think this is gonna be at the crux of all these discussions about real-world assets is where is that connection?
and how do you bring that in a
Safe and transparent and trustable way and and I mentioned and enjoy learning what what my index and uranium events clearly
place for a lot of innovation
Yeah, so for us like most commodity markets work similar to agriculture or
You know like it mentioned on the CME the Chicago
most commodities with the futures calendar or an actual derivative state the fact is that
What one has is the ability to both lock in pricing and basically hedge their risk as an institution
Or one who's actually applying uranium to do something with it
So the point being that right now there doesn't really exist a function through which one can express just financially
Settled exposure to the underlying spot price uranium the way the uranium market works is that it's I mean
fantastically fractured and that if one is actually trying to hedge their exposure or
If you're a utility or a government institution who make up the primary chunk of the market that takes physical settlement
What one does is have to go out work with a network of brokers
Set up their own storage accounts or converter accounts with which to actually store it and take delivery of it
And by that I mean relative to most commodities you obviously can't store uranium next to your copper
And it carries with it its own
Security protocols KYC protocols all this stuff
So for us we basically work out where we have our own converter accounts at the same time
We work with the network of traditional resource companies to build out our entire own book that backs the token itself
So I think what's been most interesting for us is
Is the actual expression from the traditional investment space because there is a huge network where I mean in
2023 and the team here has been building this thing in stealth for about a year now
So we went live on November 21st until that point. We didn't really talk about it. We didn't promote it
We didn't market it. We just kind of quietly put our heads down and we're working
but the reality was we have had I think a bit of an overwhelming response from the traditional space that
actual miners utilities institutions individuals who want to trade the asset but don't have a mechanism through which to do it
so right now it's kind of taking the model of
how that traditional commodities market would function and
Basically bringing it on chain
So for us what's been interesting is that you have a huge stream of onboarding for traditional institutions who otherwise would not be interested in DeFi
Because they can trade their own futures accounts. They can trade precious metals on I mean the biggest
commodities exchanges around the world
the ability to do this on chain put it in that wrapper is something where
You know, we've been basically working a lot to both, you know educate
Let the entire crypto world know about uranium the thesis behind it the value behind and that zero carbon future
But on the other hand, it's been about onboarding that traditional space to the crypto and the DeFi world who otherwise, you know
What in touch and are now kind of like interested and looking around it and trying to get exposure to it
So yeah, that's the way that's the way we do do our stuff
Yeah, I think something interesting would be I think something interesting that would be cool to hear from you guys is
like the go-to-market strategy because
Obviously, you know compared to other DeFi protocols outside of real world assets
It's I'm I'd assume it's much different. So I'm really curious to hear if you get from you guys
What is the go-to-market strategy to bring in?
users outside of web 3 to utilize
Landex home coin and uranium 308 to the fullest
I think that now especially in the evolving regulatory landscape across the world
We're seeing more and more mounting evidence of institutional and governmental interest in
tokenized assets because of their
advantages over traditional assets and you know, of course, I'm talking about things like speed of transaction resolution
cost efficiency the absence of
superfluous middlemen who take a cut so the entire process becomes much much more efficient and that is clearly
Appealing to these major players on a global scale. So I think
It in large part a lot of that work is being pioneered by
Government debt, right? So we do see quite a bit of tokenization in the government debt sector and private debt sector to some degree and
Established proof of concept that these institutions
very eager to get their hands on tokenized versions of the traditional assets that they're so familiar with and
agricultural commodities are no different that we've got decades and hundreds of years of
trading and investing history when it comes to food and crops and
virtually every commodity so
Institutions and governments would pursue a superior form of
Transfer of ownership of these assets. So
At Landex we have a large
institutional investors, but we also
spend lots of time and effort connecting with retail investors because
Mean just just the asset class of commodities in general and more specifically agricultural commodities
Deserved to be access by everyone, right?
That's kind of the the value proposition of cryptocurrency at a very high level
So while we do have a very deep awareness that
and in the crypto space things like
Dows and treasury managers. This is right within their wheelhouse looking for stable
assets to include on in their portfolios
Reliable returns and are transparently traceable right back to something that they can physically pick up with their hands and and
just something tangible, right so I think that
The no-brainer approach is that we've got tons of evidence
It's palpable how eager institutions are. I mean just just look at Larry. Thanks recent comments
Of course that institutions are very eager for these assets
They've got deep deep pockets and they're just waiting for regulation to get out of the way or provide some some clear direction for
to avoid punitive measures or lawsuits anything of that nature and and
We already know what they're what they're coming for and what they value. So I think it's a multi-faceted approach
And any responsible go-to-market strategy needs to take into account all those factors
But one of the biggest ones I do believe is
Wave of institutional investors once they're provided clear direction on how to interact with these digital assets
Yeah, and to echo that it's it's similar on our side whereby the institutional market where they do not have a
mechanism through which to express that exposure
For something even more generalist funds in the traditional hedge fund world are getting interested in these commodities things like uranium basically the entire
Battery slash energy metals fields. The fact is that we've been having conversations and discussions with groups where
They are potentially your largest institutional clients whereby we're able to build the product and the project
You know hand-in-hand with them
Such that it's kind of catered to exactly what they want. And what that means is, you know, obviously making the education and
Creating interfaces such that they can understand it whereby for a lot of these groups
These niche metal hedge funds
Energy traders they don't you know, they've been interested in crypto and DeFi for a while
But they haven't necessarily yet really dove into it
So it's been fantastic is to basically get their insight industry wise for how they're thinking about it
how they operate in line with how we shape the
Project for something that they want to use and touch because the reality for us right like when you first built this
This was primarily like a personal problem for some of the team where they wanted to trade spot uranium
They wanted the mechanism through which to express that exposure and they realized it didn't exist
That same vein the fact is the way uranium is positioned right now as a commodity and as an asset
It's getting this more generalist exposure in the institutional space
So for us, I'd say it's kind of like walking between
You know two worlds at the same time where the resources space in
Commodities agricultural ones. I'm sure and precious metals, especially you dealing with a generation much older
understand know or are familiar with interfacing with the DeFi in the crypto world and
At the same time, it's about providing options where you know, a lot of the team
They wanted to express trades with more traditional options. However while keeping their assets on chain
So it's kind of interesting for us whereby, you know, we're still growing and learning but basically
Understanding how to work between those two worlds whereby you're dealing with the institutional trad-fi world at the same time
You're providing exposure to a commodity
Outside of the kind of headline of tokenized uranium
it's the actual thesis behind it as a commodity itself whereby, you know, we've got a lot of information on our website, but
These assets with very large supply demand and balances over time and your price equilibrium is usually expressed substantially higher
You also have a situation whereby
You have these cyclical assets
Not very many individuals know about or the actual fundamental thesis behind them. So I'd say it's twofold for us
It's about educating institutions and proud fi about DeFi and at the same time, it's about
Educating the DeFi world about some of these niche commodities that I think are going to be
Some of the most valuable over my lifetime at the same time aligned with sort of a lot of our internal goals
which is the obvious need for net zero energy and
Creating a situation whereby individuals understand the actual fundamental pieces behind an asset outside of what just the sort of headline is
Yeah, I think all those those things come together over time
Traditionally mortgages in the US have been I guess long long traditionally, you know, the community helped each other with housing
You needed a house people came together and helped build one and then you did the same for your neighbors, right?
It was that sort of community decentralized way of building this big asset that each each family and home
Needed and then you know as you got bigger and bigger markets and more expensive involved and specialized labor, right? We produced
Mortgages and then now mostly institutions back those because there's they're so big right a mortgage
$500,000 thing. It's not a small thing
But at the same time we now have technology like blockchain to make that kind of grassroots decentralized
Way to bring people's fundamental shelter and housing back in that way
And we found that without getting that out and using that message has been helpful to go to market
we still need people that are interested in buying and holding home and staking it and and being part of that ecosystem and
other products and protocols who have treasuries that are looking to
Use that in a way that they can
Have it when they need it for their their protocol uses, but also earn some rewards on it over time
other parts of the world that don't have access to something like this just because the market is a
Mature enough there and the financialization and that's that's a great opportunity and then even similar to the world where it is
for example banks charge negative interest rates because of the way that they
Operate or the the current environment there. So we found interesting pockets and
Where it solves a unique problem for a specific part of the world and that's been a great person and getting to the market
appreciate the the insight there
Another question I have can you guys a lot of banks and
trad by institutions are hesitant to
Put any assets on a chain that they're not entirely in control of
They want to be on permission chains. JP Morgan has onyx
Goldman Sachs is part of the
Consortium including like Microsoft and others to you know, have a private blockchain
Can you guys give us your pitch to asset issuers on?
Why they should be using public blockchains instead of instead of private?
Yeah, I'll jump in first here we actually have them in our space and a private blockchain
That's been built up by another another company and
Some some big banks. It's called provenance. It's built by figure. They've done some really interesting work
They're on the technology and I like what they've done
So only the banks and institutions that are allowed to join run nodes and control and can can operate on it
I think they went that way in part because the problem you're saying like they wanted to get those institutions and at the time those
Institutions are only willing to operate on those those private centralized chains
We looked at it and and learned some from being part of the Internet early days back in the 90s
my co-founder Carl and I were both part of building some of those early things and
You know you had AOL who really just?
Wanted to create the Internet inside their company and and there was good reason right a little safer
They can control security and all these things that you hear about on the private blockchain side
Against the kind of public one. I mean we know
The history there of what the benefits were of having a public open
Internet that anyone could attach to you and build applications on an interoperate
And and so we went the opposite way which was let's build on a public blockchain. We started with Ethereum
we now are working in Arbitrum like these places where there's just
Really active gardens of unique work and interesting work going on where you can interconnect with other projects
And then that really it's having those interconnections and that ecosystem that really makes it powerful and so
On on that side and then bringing the institutions on is helping them
See that path and and then solving security and user experience that I think are the just the two main
Manages that we always hear about but those are solvable problems, and there's great people doing work on those so I guess we are able
We've been talking to some big institutions that are on the mortgage side and buying wages in the regular traffic by way
They're really intrigued by this and they're open to making moves in that direction
You know, they just move a little slower then you or I jumping in is
D gems on these kind of things
You know, I think in our case
You know the fact that a spot uranium market doesn't exist a derivatives market doesn't exist
tokenizing the asset makes a lot of sense to
Uranium markets participants as a whole because currently
When you see the quoted price of uranium that's in the headlines that's constantly going up up up and up
That's once a day and it's basically a survey of uranium brokers what they're quoting off market like OTC and
You know to be able to have an asset on chain
trading 24-7 and have it on an open market where
It isn't subject the price isn't subject to the whims of brokers and is ultimately
Subject to you know supply and demand and to other market forces and it's an actual open market versus an off exchange
Negotiated price I think makes a lot of sense to pretty much everyone. We've spoken to it enables better price discovery
Transparency into supply and demand it enables, you know, the establishment of a derivatives market where hedging can occur similar to how
You know like jet fuel is a great example uranium and jet fuel have been around for about the same amount of time
and if you read about how like Airlines like Southwest Airlines are able to hedge the price of their jet fuel and
Regardless of what the open market price is they have a steady price throughout the year and that enables them to a
Make huge profits for Southwest Airlines and save the airline tons of money, but also big enable them to predictably
Estimate the cost of jet fuel and price out airline fares
I think you know, I it makes that possible for people not people but
institutions that need access to uranium be they utilities be they
Enrichers be they government organizations and it just enables a much more predictable
Open market for a commodity that historically hasn't trade and traded in such a way
And I think it just it really does make a lot of sense and the the response when we talk to these institutions when we talk to
Other markets participants has been uniformly positive in our sense. We've been very fortunate there
Cool, yeah, no, I think there's definitely tons of opportunities for
institutions to learn about
What's been going on in this space and I think something really interesting
I've noticed in this space is like app chains, right people building their own custom chains
for their own use cases, right and especially for
and so I'm really curious to hear your thoughts on this, but
What do you guys think will lead to the next or?
I guess a huge boom in adoption and real-world assets. Do you guys think that app chains?
Have a role to play in this
you know, I think app chains do have a huge role to play in this but ultimately the app chain is only as
Good as the demand behind it and that demand really isn't going to come on a mass scale until we have more regulatory clarity
Right regulatory clarity is key
You've seen what's happened with Bitcoin ETFs the spot Bitcoin ETF the amount of trading volume that it has sure
There's been a lot of selling in GBTC
But a lot of that has been because of liquidations from the FTX estate
Ultimately, the adoption curve there has kind of hockey stick in a hockey stick in a way where that you know was largely
Expected from retail users because they now finally have a way to express their opinions on Bitcoin in their retirement accounts
And you know, I think all these platforms
Protocols, I think we'll have a similar adoption curve once we have that regulatory clarity
Yeah, I have to say I completely agree the
The elephant in the room is is the lack of regulatory clarity
institutions are notoriously careful when it comes to
Avoiding any type of or I mean, you know in an ideal world or at least on paper and public facing
elements of their businesses are obsessed with
For obvious reasons, of course, right your business can't be ultimately successful if
You are found to be outside of regulation. You're gonna pay punitive measures. You're gonna pay lawsuits
You are likely going to be put out of business or at least potentially put out of business
So the the one if I had to narrow it down to one thing that will open the floodgates for
Like I think it was Ryan who is speaking
for app change protocols is
regulatory clarity because the world essentially is waiting for clear guidance on how to interact with digital assets and once that comes I mean
household names like Bitcoin
first, but it's going to trickle down to every aspect of of cryptocurrency and
That's when you're going to see an unbridled wave of adoption
Sweeping the globe is when the green light is given at the regulatory level
I certainly agree that the regulatory is the key one
It may sound a little bit like a broken record
But I think the user experience is also good to be a big part of it
I won't say that salt and maybe there's some of that is partly due to the regulatory uncertainty, you know
certainly people make choices and how they present their protocol based on
some of the uncertainty there that make it more difficult for users to use in a way that
the regulatory current regulatory environment favors
But I also look at somebody who just wants to come and be part of this
Home and put their house up or you know, take the benefits of helping somebody else get a house and that's still just a scary
Difficult path to for them to tread and then you look at things like gas fees
And I think where you're thinking app chains come in this, you know
If it costs you $50 to invest or put $25 into something
Then that's definitely not going to happen at scale and mass
So I think those sort of technologies that improve that are key here as well
Cool. Yeah. Yeah. Thanks for sharing the insight and
I know like you guys have been
Building, you know throughout the last few years and preparation, you know when the green light goes
but I'm really curious to hear what are some things you guys are working on this year in 2024 that
You guys are very excited for
successful LNDX token launches in in December and then we had a successful
That X basket is just a an index token of all of our X tokens and X tokens are our digital
The different commodities that we tokenize and bring on chain. So it's the first in a in
many offerings to come so we're very excited about expanding the places where X baskets available and
I mean it all comes back to right now. Our major focus is on on composability, right?
so working together with other projects in the arbitrary ecosystem to
Establish X basket as a as a keystone asset
Throughout all of all of DeFi. So that's what we're most excited about for this year for 2024 beyond 2024 and
Perhaps in later quarters. We also have a number of different products that are currently under development
I hesitate to give too much information on that because I
I'm limited in what I can say but
what I'm most excited about is expanding the reach of our offerings and working together with
You know all of the nearly endless
Projects and arbitrary system to expand the uses the applications in terms of DeFi
That X tokens have to offer
Yeah, thank you that being on an arbitrary we're finishing up our arbitrary launch and so that's probably the thing
we're most excited about between 24 is getting live on on the new chain and getting and taking advantage of the
ecosystem and the interoperability that
X X tokens is also talking about I think those are the places where the these things get more exciting and we can all build together
Yeah, and then on our side
Additionally relatively limited in what we can say but we're working on is both native rewards and staking for the protocol itself in addition
to a few institutions that were
Were the majority of the way through the actual onboarding process right now
So I think on the back of the overall uranium market and those partners. We're gonna have yeah a pretty
Pretty noisy couple of months
So yeah, we're looking forward to it and at the same time. We're very excited about the arbitrum RWA ecosystem as well because
working with partners like Landex
Et cetera, like the fact is you have an ecosystem that you see on the cusp of a phenomenal growth trajectory
And similar to what another speaker mentioned in terms of the way traditional institutions are looking at the space
Understanding it getting familiar with it being able to build with the largest participants in that space is
I mean frankly gives them comfort in the way
our ecosystem and DeFi works in general and at the same time creates a situation where you have a phenomenal
Pipeline and stream of onboarding of those individuals to the overall DeFi space. So yeah, we're we're excited for that
Yeah, I'm super excited to see all of you guys
Accomplish all of your milestones and of course like bringing in users and institutions
to your platforms, so I'm really extremely bullish on the
RWA ecosystem here on arbitrum
But yeah, I know if people have any questions or want to learn more about what each of you guys are building
Where can they go to learn more about that?
Sure. In our case, you can go to uranium 308.com. You can check out uranium 308 on
Twitter or X whatever we're calling it these days and you can also just reach out to either myself or
Alex or any other member of the team. We're fully
Public and docked and accessible and happy to answer any questions you have
Yeah for us you can you can head over to land X dot Phi
I would encourage anyone who wants to learn more to hop in our discord and telegram channels
We have team members and a great team of moderate moderators who are on
Perpetually to answer questions and direct people toward any number of resources that we've developed to spread as much
Education and make it as easily as accessible as possible
And homecoin is at homecoin.finance
On the web and you can find the link to this cord there is a good good community that's active and moderating and and then lots
of resources that I think
Previous AMAs that we've done
With this and also just throw in on Twitter
You can find our handle here homecoin finance are also super valuable happy to have a discussion and chat with anybody on
Nice well, yeah, thank you
Everybody here land X home coin uranium 308 for joining us today
Such an insightful space to learn more about how the
RWA ecosystem is growing on arbitrary and how you guys are contributing to that growth
So like really really appreciate you guys for jumping on here and talking to the community
And so yeah, have a great day everybody and enjoy your week
Yeah, thanks a lot this was great
Yeah, thank you very much enjoyed this yeah