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Arbitrum <> Sphere Finance
Recorded: Oct. 5, 2023 Duration: 0:30:09Space Recording
Full Transcription
Transcription by CastingWords
Transcription by CastingWords
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Transcription by CastingWords
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Transcription by CastingWords
Transcription by CastingWords
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So yeah, you can go directly to the Arbitrum
of the Arbitrum Security Council's
or in the Arbitrum DAO forum.
Stylos, which is a new development by Stylos, which is a new development by Stylos, which is a new development by Offchain Labs.
Also, this is a new development by Arbitrum.
the actual Sphere Finance itself in the marketing side.
And I positioned myself and asked if I could help.
And that opened the door for some other opportunities.
And I now have been with the team,
literally coming up in one year this month,
working in the marketing side of Sphere.
So I am definitely somebody who is more
from the outside of the crypto world.
My experience is more in marketing
in the business environment outside of crypto,
which has been a really fun transition for me.
I've enjoyed learning about crypto.
I've enjoyed picking the brains of people
that are incredibly crypto smart
and trying to apply crypto knowledge
along with marketing knowledge
and see how we can blend those together.
Because there are definitely two different parts of the brain
you have to use to get on the same page.
Great. That's a great story.
Yeah, we always like to hear more about the people
that are building the Arbitrum ecosystem
and the WebTree ecosystem.
So yeah, cool to hear.
And congratulations on your path
and how you are now a builder of the space.
So now I would like to hear more about the Sphere Finance.
What is it?
Can you explain to the Arbitrums here
what is it in general?
Well, absolutely.
So Sphere Finance,
it's a tough one to tell you exactly what we are
without telling you kind of where we've been.
So Sphere, we started out in March of 2022.
We came along with the rebase era.
We absolutely were part of that in the beginning.
We embraced it,
but we're also very clear from the very beginning
that this is not our long-term vision.
We're absolutely taking advantage
of what's popular in the market.
And one day we're going to pivot away from that.
We pivoted away from the rebase era
in June of 2022,
right when things started to get
a little difficult in the crypto market.
We'll use that term.
And we have spent the last,
coming up now, 15 months
navigating the bear market,
building where we can build,
and trying to pivot
whenever they became a market opportunity
to grow with that.
We are absolutely a small cap crypto right now.
What we are though is small.
We're also nimble.
We have devs on staff
that are building every single day
where the need is.
So when you ask a crypto project,
what makes them unique?
Every project we're going to tell you
they're the most unique thing
that's ever created.
We definitely are some early movers
and some features
and things that we have built,
but I feel like the greatest strength we have
is our ability to build for others
in a very quick manner.
So we are trying to position ourselves right now
as being a valuable asset
for other companies to build upon
and take advantage and use
and position ourselves that way.
Our longest play,
what we had always said from day one,
is we eventually want to make
this Sphere token itself
a governance token.
And in order to have governance,
you've got to have something to govern.
And so we are in the process
of building out that ecosystem
to eventually use that
as a governance token.
And that's something
that we're working towards
every single day.
But it has definitely been
a challenge environment
to build in the last 15 months
of the current market conditions.
But we survived it.
We navigated it.
We're here
and we're available
to help the people
who are reaching out
and asking for help.
And it's been a really exciting few months.
Wow, fantastic.
That's very exciting
to get to know more,
to be honest.
And I think this one
is very aligned
to the second question
I want to ask you
is what are the challenges
that you are solving
and what is that thing
that you are bringing
to the community
and solving to them?
Yeah.
So right now,
we're in an interesting spot.
We are actively building
our CDP out
with our star token.
But more than anything,
we're also willing
to build for other people.
So it's not so much
that we are solving
a challenge
that the crypto community
is experiencing
is we're working hard
to solve challenges
other projects are having.
And that is absolutely
our strength.
And we've had the opportunity
to build out
on a few different
applications lately.
And it's showing
some really good promises.
Yeah.
Nice.
And can you explain
more about those things
that you are bringing
to the other projects?
Like, are they ready
or how can people
get, like,
how can other projects
can get more involved
or how can we find them?
Yeah.
One of the best things
we've built lately
is a lot of liquid wrapper solutions
for VE33 DEXs
and help them
keep their steg
and keep their peg
in the stability
of that wrapper.
That's something
that we've had
a lot of success with
and we've built
that in multiple ones.
For Sphere,
personally,
right now,
you can find out
a lot of what
we're currently building
in Prion Finance.
That is the home
of Star,
which is our stablecoin
in our CDP project.
That's going to be
the biggest thing
that we personally
are building out
right now.
Exciting.
I guess we just received
an alpha here
about what you're building
there, right?
Yeah.
Cool.
Nice to see.
So builders
are building
at the end.
Cool.
And as well,
can you give us
a walkthrough
of important features
you have?
You already mentioned
some,
but maybe,
I don't know
if you have,
have we missed
any of the
important features?
Yeah.
Well,
the important features,
you know,
the biggest thing
is our star
with our CDP.
It is a zero interest
lending platform.
There are some other ones
out there doing that,
but we are very proud
of what we're building,
specifically the peg
that that star
has been able
to achieve
over the launch of it.
We're entering
in month three
right now,
coming up really soon
of having star available
and keeping that peg
and growing that TVL
is something
that we're incredibly
proud of.
Fantastic.
I'm going to,
I'm going to see
if I can find
the links here
in your,
in your X account
for the people
to see it.
I say it's,
it's also in our docs
there too
that we shared.
I have the pre-owned
link in there for you.
Okay.
Yeah.
Yeah,
please.
And yeah,
if someone here,
if here someone
in the community
has any question,
please just go
directly to the comments
and share your question
and we are going
to answer it.
And,
cool.
Yeah.
Well,
let's say like
I'm,
I'm pretty new
to the,
yeah,
like this is my first time
that I listen
into
Sphere Finance.
So what,
what should I do?
Like,
should I start
following you
on Twitter
then go to
your website?
Like,
what's the best
path for someone
that is super new
to walk through?
Yeah,
so we have a few
different Twitter accounts
based upon the projects
that we have built
out so far.
the easiest way
is just going
to start
with Sphere Finance.
Hop on our Discord,
introduce yourself,
say you're here
because of the
Arbitrum AMA
and start chatting
with us
because we are
building out
a lot of different
solutions depending
on what your needs
are and we'd love
to talk to you
about that.
Some of the things
that we're experiencing
is we are having
a wide range
of crypto experience
join our group.
So if you're
super experienced
and want to ask
some technical questions,
please hop on in.
We got some really,
really smart people
to help you.
But if you're just
starting out
and you're looking
for a place to grow
within the crypto space,
still swing by,
talk to us,
say hi.
We have some very
simple solutions for you.
We are really trying
to position ourselves
to take advantage
of as many opportunities
as out there as possible.
We are not limiting
ourselves in any capacity.
So if you are also
a project
that you are struggling
with something
or you're suffering
a pain point
in your growth,
reach out to us
as well, too.
We got some pretty
smart people
and we might be able
to collaborate
in a way to help
grow your business
as well.
Oh, nice.
That's beautiful.
Yeah, I always
invite.
I'll take it.
inviting other people
to be part of your growth
or other projects.
That's something
super cool
that I personally
have seen a lot
in the Arbitrum ecosystem.
Everyone is collaborating
with each other
and helping out.
So yeah,
that's very cool
to see that as well.
And also making
the community
be part of this growth
is amazing as well.
as well.
Absolutely.
Yeah,
and I also saw
that you are
organizing sometimes
some community calls
in your Discord,
right?
Like,
is this like
something that is
happening like
every month?
Is it bi-weekly?
I don't know.
Like,
what about them?
So we have
a few different ways
of communicating
with our community.
We do a bi-weekly
AMA chat
where you are allowed
to ask your questions
in a dedicated group
of our Discord
and then we take the time
and have one of our
fabulous workers
named Price Time
answer it.
And the guy
is absolutely amazing.
He's got a far
better voice than me
and we do those
bi-weekly
within our own community.
The other advantage
we've experienced
a lot of
and we'd love
to build out
a whole lot more
is the people
that we build for
or we're building
a relationship with
is just spending
some time
and talking
with each other
on Twitter spaces
and developing
that friendship.
It's always really cool
to hear a name
and a face
behind a project
and start building
those up.
Also,
sometimes you might
pick up a little bit
of unique information
that you may not find
in a different section
or hear of a new
announcement first
before everybody else.
So we definitely
are going to engage
the community
from that front
and a lot more
coming up here.
Great to see.
Great to see.
Yeah,
many ways
to get involved
for the community.
So yeah,
absolutely.
I'm going to pin
this call
that you're having
very soon.
Oh no,
well,
I think you already
had it,
but yeah.
Cool.
for the next one.
You're good.
I would like
to ask you
like,
why did you
choose Arbitrum?
Why Arbitrum
is the
sphere
finance home?
So it was
really interesting
for me
from a marketing
perspective,
watch the communication
take place
in the background
because a lot
of the decisions
of doing that
revolved around,
you know,
the logistics
of building out
an actual crypto
project
on what chain
you're going
to use.
However,
one of the things
that kept coming
back to is
just the hype
and the desire
of other projects
to be a part
of Arbitrum.
That's something
that really kind
of surprised me
and also it was
just really cool
to see how that
was something
that was very
much aware.
Yes,
you have,
you know,
low fees
and you're easy
to build on
and,
you know,
with the Arbitrum
Foundation right now
as well too,
there's a lot
of incentives
to really push
for that.
But there are
some things
that you can't
replicate incredibly
easily and being
from a marketing
perspective,
the one thing
I watched
is just how
much push
there was
to be a part
of the Arbitrum
ecosystem.
And so that's
why when we
launched our
Stablecoin Star,
we chose the
Arbitrum platform
to start with.
Like,
there's a reason
why we chose
that and,
you know,
we had built
relationships
with a lot
of different chains
and we had
pretty much
our shoes
of where we
wanted to build
and when it
came push
came to shove
and we factored
in all the
decisions we
would make
in choosing a
chain,
Arbitrum is
absolutely the
one that we
wanted to build
And again,
from the marketing
standpoint,
like,
it's been really
cool watching you
guys take off
and just how
much buzz
there is
behind it.
nice to hear
that you
have been
like,
you've been
experienced
a lot of
good things
from having
been on
Arbitrum.
So yeah,
that's very,
very cool
to hear.
Also,
yeah,
at the end
as well,
at the moment,
I guess,
as layer,
the analysis
of layer
2-bit,
it says
that Arbitrum
is the most
secure and
decentralized
layer 2
in the
ecosystem.
So yeah,
I think at
the end,
the community
really,
they really
matter,
these kind
of things,
and also
that it's
for real
inheriting
Ethereum
security
because of
the front
roofs that
are already
on Arbitrum
since,
yeah,
since the
beginning,
this mindset
of having
security-first
mindset has
been very,
very important
for Arbitrum
in general.
So yeah,
very cool
to see you
here in
the space.
And also
wondering,
like,
how has
the reaction
from the
community
been since
you're on
Arbitrum?
You mentioned
that it's
been great
for so far.
Or absolutely,
there is
definitely a
push from
our community
that,
like,
hey,
are we
going to
build on
Arbitrum?
Is that
we're going
to do
this?
And so
the community
was not
necessarily
forcing our
hand in
any way,
but they
were absolutely
fully supportive
and excited
that we were
building on
Arbitrum.
I don't
understand why
any community
right now
would not
be overjoyed
to know that
their project
has support
from the
Arbitrum network.
That's huge
right now.
Arbitrum is
DeFi home
for sure.
And I
would like
to get
more alphas.
You already
mentioned that
you are
working in
something new,
so I would
like to hear
more about
what's next
for Sphere.
Well,
right now
the media
focus for us
is to keep
maintaining the
peg of the
star stablecoin.
That's going to
be our number
one focus.
Once we
have that
built out
in a
sufficient
manner,
we're going
to expand
out our
premium network
and also
launch our
pre-on token.
Our wonderful
price time
mentioned that
there will be
a pre-sale
opportunity for
the pre-on token
when that's
time,
and that is
nearing much
closer than
it was when
price time
originally said
that.
And so I'd
say that's the
next thing on
our radar.
I can't give
any hard dates
yet.
We're still
building stuff
out,
but I am
very excited
with how far
along in that
development
process we
are.
Big stuff is
coming,
and stay
tuned for
that stuff.
Whoa.
Yeah, we're
going to keep
posted on that
to hear more
news.
Well, I'm
wondering if you
would like to
share something
else to the
community that
we haven't
touched yet.
next.
I'd say the
biggest thing
is we want
you to be a
part of our
community.
You're part
of the
RVTRIM
community.
You guys
have a great
community,
some phenomenally
smart people,
and we would
love to have
you guys come
over and see
what we're
building right
now.
Ask some
questions,
and again,
also, too,
if you are
building something
and struggling,
come talk to
We want to
build out the
crypto space
and build out
the opportunities
for other
companies to
shine as well,
too.
This is the
biggest thing.
We're proud of
our community
and we want
to have that
reach to new
people.
Our community
has been in
place for an
extended period
of time.
We built
through the
bear market,
and I feel
like things
are starting
to tip a
little bit
in our
favor as
we start
to exit
the bear
market here.
I don't
want to say
we're in a
bull market
yet by any
means,
but I feel
like it's
a lot closer
than it was
six months
ago.
I'd love
for people
to know
what sphere
is building
and developing
before things
really start
getting busy.
Nice.
Thank you so
much for the
invitation,
and for sure,
I'm sure
some people
in the
community
will reach
out to you
if they
want to
ask you
more questions.
The best
way for this
is to reach
out to you
directly to
your X
account or
to Sphere
Finance
account and
also Discord,
right?
Any of those.
We'll find
them no matter
what.
Just say
hi to us.
Okay,
fantastic.
Well,
I think we
are about
to finish
our AMA,
so yeah,
thank you so
much for
joining us
today.
It was
very cool
to get to
know more
about what
you have
already built,
what you're
building as
well,
and yeah,
exciting to
see what's
coming next.
Yeah,
thank you so
much for
hosting us,
and thank
you so
much for
creating a
platform for
us to build
on with
Arbitrum.
It's allowing
for some
very good
things to
happen.
Absolutely,
I love it.
Thank you very
much.
Have a great
day.
Happy Thursday.
You too.
