you guys hear me hello yeah yeah we can hear you for sure yeah super excited to
be to have this AMA with you and sure is going to be our guest house and
arbitrary that we'll be leaving this AMA but yeah super excited GM yeah welcome
notch to the stage again I feel like I just spoke with you man I know what was
it yesterday yeah I hear you I thought I was talking to myself no no but it's okay
I do that too sometimes all good all good all right so um yeah we have notch here
with us to talk about everything it's a Kai's I pronounce it it's a key it's a
car is a car is the car is a car well who came up with the name well it wasn't it
wasn't actually I don't know I think it was I think it was there was a bunch of
names that the guys had in the beginning and you know we've got a lot of anime
fans and so it's a genre of anime typically speaking the genre of anime is
you get some kind of just regular kid you know no no nobody too special and
awkward and some life-changing event happens they get transported to another
world I think it literally stands for another world and then yeah they they
just kind of meet all these waifus and there's castles and you know dragons and
very medieval things and we thought that the the visuals of that were pretty cool
and I don't know crypto Twitter seems to like waifus shout out when men and so
yeah we we ran with it and it seems it seems like we've we've kind of got
people's attention for one one reason or another so yeah yeah that's cool now I
definitely could see there being like a huge like a big anime community here it
was funny we were talking to people about it they were like are you guys game fire
something no no no no no it's not a game fight project no no I know I know though
we have been told we should spin up a dating simulator as like a easter egg
thing but yeah when the boys have that much time we'll get on it right now it's
like we're getting ready to go into audit number two so it's a lot going on
but yeah for sure just ask a new Turo to do it you know he he is a busy guy he's
a busy guy he um I will tell you though you'll be surprised to know that
actually the spud man who is in our audience he is our our our AI illustrator
and he makes everything real pretty so shout out to spud for coming up with a
lot of these visuals here and it's already giving me the thumbs down constant
thumbs down here new Toro actually just shows up yells at us and then leaves
it's it's really unfortunate so yeah yeah that's a sad thing here
the term must be mad because AI is gonna take over his job someday I told him I
told him he should learn to code and then I had that 24-hour Twitter ban for a
while so I don't do that anymore wild yeah yeah but you know for the audience
for those that don't know who you guys are do you want to give like the the
high overview of it yeah sure so you know Isekai is a project that you know
basically it's founded by you know a bunch of arbitrage emojis and really the
the kind of the idea run Isekai was to try and build something that no one's
really attempted before and our tagline called you know yield as a weapon
really we're we are really trying to weaponize yield in this manner that no
one's ever really tried before we came up with some pretty I wouldn't say that
they're unique in terms of like the concept because really a lot of the
stuff in steps from Soros's reflexivity of markets but it just feels like most
people don't really apply these types of concepts from you know traditional
markets into defy which is strange because in defy you get a lot more you
have a much bigger sandbox to kind of play in and so we came up with this
concept and it's kind of like this flywheel where one side of the project
really superpowers the other side of the project and you know I think when we
initially were ideating on it originally it was kind of one idea and
then we had this idea to fold in working with the boys over at Camelot
and yeah we just kind of came to some realizations that there's some pretty
interesting stuff that we're gonna be able to do through that type of model
and long and short we you know we ended up here but I think what's particularly
interesting you know if I'm on an arbitrary space and I'm talking about
arbitrary is that what Isekai actually really does to benefit the space is
actually more so through being a magnet for capital that's even cross-chain I
think that's quite interesting because we are seeing a lot of cross-chain
narratives right now like for example we synonym that launched yesterday they
had a great launch and they're kind of like you know they're everywhere all at
once right you have guys like curve ants that are gonna be launching on
multiple chains you've got tapioca right so like there's this kind of
narrative about cross-chain but what I think we're really seeing is that it's
actually starting to get a little hard to keep up with right there's all these
L2s there's L3s like I mean Arbitrum's got their orbit it gets a little
difficult I think for people to keep track of it all unless you're really
really really all in on the space and the sectors and so we think Isekai is
gonna be able to actually solve a lot of these problems for for some users that
are looking for that level of kind of diversification but then also just big
number because then big number means devs good and green candle means
everybody's smart and you know that kind of thing so that's the plan nice and yeah
I noticed that you guys are also working on on the protocol side right because
there's two half to this right liquidity benefits users but what about for
protocols yeah yeah I think what's what's really interesting about it is
that the we have to put our token somewhere right and so when you take a
look around at native Arbitrum projects like Camelot's the obvious choice
they've got you know really I think a stranglehold on just kind of the native
projects on Arbitrum you know there's always gonna be use cases for you know
uniswap and for curve and things like that just is these are different systems
or they have certain pre vetted things about them that market makers like but
you know if you're a protocol and you're building on on Arbitrum you know there's
really only a few Dex's to really look at right you know obviously you've got
sushi you got Camelot you've got uniswap you got Ramses you get you know like
there are there are good Dex's out there right but I think that Camelot
seems to be where they kind of solidified that they're kind of the
leader in in the space and so we we thought you know why not utilize our you
know kind of admiration of the system that they've built to put out something
that you know we could I think Camelot you know when they did this roundtable
thing for those not familiar so roundtable is basically where your folks
that have kind of brought over protocol on liquidity have kind of bought into
the system and they've got their liquidity on Camelot and they're kind of
like OGs or maybe like launched on on Camelot through their launchpad
mechanism and so you know I was talking iron boots about this maybe it was
during our AMA that we did two weeks ago roughly it was two weeks ago now
and you know they've done a lot of good getting people to talk about their
relationship with Camelot but I think that if Isekai kind of represents a
broader community of folks just on Arbitrum and we've got a lot of
Arbitrum tourists right now right there are a lot of people that have come here
for the step and you know we're hoping to keep them on chain there's a lot of
competition out there there's always competing incentives but I think that at
the end of the day one of the things that we're trying to do is just kind of
coalesce people around working with each other and collaboration because for
Isekai like if we're building half of our project you know to try and you know
keep Camelot growing at the pace that it's growing then it's kind of
necessary that we're trying to be good stewards to also tell community about hey
you could take your protocol on liquidity and you could put it in our miracles
right or you can use the gauge system right because Camelot's coming out of the
gauge system but you know I'll let them leak the details of what that'll be and
when it's happening but those are the type of things that you know we expect
people will be really interested about for again half the project so you know
I think that just the ability to build out a system that's that's needed on
Arbitrum in the first place kind of like trying to build out like you know
you've called it kind of like the convex of of Camelot trying to build that
system out and get people to utilize that is is you know pretty pretty I think
it's pretty attractive for a lot of the protocols that are just you know kind of
like alright well I've got my liquidity there and my users liquidity are there
and that's it but now what they haven't really thought too deeply about it but
you know we probably will see the gauge systems spike a lot of activity and you
know we expect to be the major player in you know attracting those users and
attracting that capital so yeah I think that's a lot I think it's I think it's
interesting though because like we've very purposefully talked about holy in
the beginning of our marketing and we did that because we wanted to get
people kind of in the door to understand kind of you know what it is that we're
trying to do but we've started this week and the whole focus that we're going to
be doing now is we've talked about holy now we're gonna talk about XP because
XP I really think is is the thing that people like if you're you know if you
know how holy works and you kind of think about how Isekai was created it's
important to know that like everything kind of relies on XP like XP is is the
capital engine and so it's that capital engine I think that got a lot of people
excited when we started talking about the project because again it's doing
something that no one's ever really done before we'll talk about it but I
think we'll also talk about why it's gonna bring a ton of flows into
Arbitrum and you know again those flows need to live somewhere and so they'll
live on Camelot yeah definitely yeah I think it'll be like a good idea for you
to I guess cover like the whole ecosystem overview because I know you guys are
working on a parallel architecture you brought up those tokens so maybe it'd be
a good idea to just give a high-level overview of that and then dive into the
specifics yeah sure so I think the easiest thing to do is probably start
with with one of the easiest but I think like the most pertinent thing to do is
really just start with kind of why we're doing this in the first place right like
why why are we kind of building this and I think the reason why we're
building this is because we just generally speaking we're kind of
unhappy with classical rapper concepts so things like linear rappers have their ups
and downs then there's rappers where you mince on a curve traditionally
people are hyper focused on peg maintenance most people will take a look
at a liquid wrapper and they'll say alright it's trading above peg it's
good it's trading at peg it's good if it's trading below peg it sucks but I
think that there's there's a lot more nuance to that and I think that it
also kind of requires you to accept some precepts that are potentially false
or not for everybody so one of the things that I know just from my
experience is that liquidity is not free right liquidity has a premium ask anybody
if you want to sell a position liquidity is you know the tightest right when you
need it the most and liquidity is most plentiful when you don't need it
liquidity is always got a premium to it I mean ask any lending protocol it's
their lifeblood right you need liquidity but there are only so many ways that you
can create incentives for people to create liquidity and one of the biggest
problems we see across just the kind of liquid wrapper space beside just peg
maintenance and kind of that hyper focus on peg is that you'll get something
that seems pretty good but you just can't get out of it or you can't get
out of it in size or it's just it doesn't the incentives don't align with
creating that that that liquid wrapper you're kind of stuck into the the the
yield-bearing portion of it but it's our it's our belief and we're gonna talk
about something we call symbolic wrapper or a symbolic token that once you've
given your locked up tokens to a protocol and they give you something else
it's fundamentally not the same and the the best example I can give for something
like this is for folks who are familiar with how CVX CRV works so with CVX CRV
right it's basically VEC RV which is the vote locked CV CRV that's got a
four-year lock on it it's also got kind of a diminishing vote value to it
produces in power over time requires manual relock stuff like that once you
give that over to convex and they give you CVX CRV you're never gonna see that
token again like you're never gonna see the VEC RV again it's perpetually locked
right and you get a shorter lock duration and you get liquidity but the
question of all right well what's the peg of CVX CRV it's really important to
ask that question because the answer is it depends where you are on the mint
curve right and if you're minting on a curve then those you know that the
place where you mint on the curve is actually where your peg is but then
there should be a liquidity premium in there so you have to think about where
are you on the curve and then what's the value of liquidity and the answer of
what the value of liquidity is isn't the same for everybody your liquidity needs
might be different than mine so I think that there's some challenges here and
what teams traditionally do is they focus on ways to try and keep the peg
there are linear wrapper systems out there if you're familiar with like how
Plutus or how the magpie team does linear wrappers right basically the
ideas are always able to kind of mint one for one and sometimes those systems
make sense but they're also reliant on outside incentives usually they give out
a governance token or they're kind of using a gauge system but one of the
issues that we see with linear wrappers is that in an efficient market if they
ever trade above their underlying peg then it's a free arbitrage for anybody
that wants to try and come in and mint it so traditionally these things can only
trade at or below peg whereas we've seen convex actually trade at multiples of
peg at different times because people value that liquidity or you know there
were just early incentives for being in the token so I think that as a blanket
statement of why we kind of decided to make Isekai we wanted to try and put
out what we felt would be a different system and we wanted to try and pick a
target for that system that made sense and we've come up with a couple different
ways of expressing that you know through the project but that's essentially the
why at a very very broad level I know that was a little bit intense if
you're not pretty pretty savvy on some of this stuff but I think one of the
problems in DeFi and I've said this on other on other MAs before but I think
that a lot of the low-hanging fruit on DeFi has kind of happened and things
are gonna start to get more and more complex as we go forward like the
strategies are gonna have to get a lot like like you're gonna have to squeeze
a little harder you know yeah there's airdrop farming there's like they'll
always be that type of stuff and that may be it for most people but I think
that if you're a protocol that's designing something kind of
revolutionary I think a lot of the basic stuff has already happened and so when we
came up with this concept for XP that was kind of where we said okay we we
probably have something really special here so let me let me get into it because
I've been teasing it enough so what is XP XP is how you level up in the Azakai
universe it's a token where if you're familiar with how Olympus works it it has
a similar concept but only at 10,000 feet it is a token that you might call
rebasing we call it engaging and what you do is you will take tokens that have
what we would consider to have a real yield I'll explain what I mean by that
in a second and you're going to insert them into the system on a curve we call
it tithing and you're gonna get XP in exchange for that token so let me let me
go into what I mean by real yield the purpose of XP was to build one of the
most robust real yield curves in DeFi and tokenize it so what does that mean
projects like Aura right why Aura well they've been quietly printing between 60
and 80 percent yields for some time they have a very robust bribe market their
cross chain there's liquidity it is a market that throws off non-dilutive
yield through processing of bribes and it's predictable to a degree things like
radiance DLP obviously native to Arbitrum there's no way to liquefy or
transfer DLP it just exists but the yields on it traditionally have been
great think about things like convex think about things like frac shares
right I'm just giving you some examples here we take a look at all these
tokens or you take a look even at stuff on Arbitrum think about like GMX
pools you have your GM stuff we have some pretty attractive things that could
happen as size gets bigger on some of these tokens that are spitting out a ton
of real yield I'm looking at you know a lot of stuff that's on chain right now
but what we're looking for right now is deep liquidity real yields predictable
market track record so we take those and we are building a basket that
basket you mint in by transferring your tokens or minting with like E3 USDC and
then you will get this token called XP but this token is not meant to represent
the underlying in the classical sense that you know your rappers might do
again that's why we're calling a symbolic token the symbolic token focuses
on two things focuses on yield and liquidity right and if we hyper focus
yield and liquidity we believe that that is what actually most market
participants actually want and so we've weaponized it I'll explain what I mean
by that but I know that's a lot so taking a step back here what is an
attractive yield to people in the post-arbiturum stiff world I've had
conversations with you know plenty of arbitrary delegates and folks out there
that are building that are saying man if we don't have a step or we don't have an
L tip there's this barrier a bit where we have to try and get a little bit
more competitive in order to compete with some of these guys and I know
arbitrum is working on solutions for this and trying to level the playing
field and I think that people are going to be really impressed with what the
arbitrum team comes up with in this regard but one of the most interesting
things about is a chi is that is a chi won't actually need an arbitrum step
to get yields that are better than probably every arbitrum step given
protocol in real yield terms and the reason I'm able to say that is
because XP has a very unique mechanism that we call concentrated real yield but
concentrated real yield in this way has never been done without leverage so
here's how XP works so I've already told you how you get XP I've already told you
what XP is made out of so here's how it works you have two choices as a user
you can take your XP okay and you can engage your XP your XP is ready for
battle right we've got these cool visuals you're gonna hear like a battle
charge like really cool stuff so you get your XP it's engaged it's ready for
battle what does that mean that means that in a rebasing system you're not
going to lose out on those rebases basically you're not gonna get diluted
right the idea is that your XP is gonna grow and you are betting that the
protocol will be able to grow at a rate that is sustainable and frankly better
than if you were to just maybe deploy your capital elsewhere how do we try
and assure that well the answer lies in the yield and the liquidity side of the
project which is how do people actually get real yield out of the XP token how
do we squeeze it out and the answer and the magic of it is that your second
option beside engaging it will be to LP it in the XP eth LP and that XP eth LP
is where the real yields start to come out so what will happen is that you will
accept dilution right you're not getting your rebases because you can't be staked
and rebased at the same time but you're gonna earn your percentage of the
underlying yield in the base of XP okay so let's use some round numbers here
let's say that I have a basket that yields roughly about 40% eth let's just
use round numbers 40% eth okay so if I 40% eth okay and I have 80% of people
that are engaged their stake they don't want dilution right they just want to
see the project grow they don't want to lose that that percentage of power right
in the XP system so they're engaged 20% of people that are saying you know what
I want the yields because there's a lot of people staking I think I'm gonna get
a good deal well they you know that might be right for them because they're
gonna get about 200% APRs but if you auto compounded daily you're talking four
figures but it's an eth you're talking four figures APY and real yield an eth
or USDC whatever whatever real yield stuff that we're gonna pay out at that
moment okay when you're when you're talking about numbers that are that big
and they're not you know and it's a repeatable process again this is just
Storos's reflexivity of markets you have what is effectively a magnifying
glass putting the Sun on a very small point in the universe and that small
point is on the yields for folks that are LP but the important part here is
that even if we hit some sort of efficient frontier where you've got 50
percent of people staking and 50 percent of people LPing I still have a
multiplier on all of these great yields so I'll give you an example take a look
at we'll use GMX take a look at GMX right they have all their GM pools
right they have different yields that go to them right you know good strong
yields you know obviously beefy protocol so you could buy a lot of it so let's say
that they've got a pool that yields roughly 40 percent okay if I've got a
pool that yields roughly 40 percent over there I can pay out 40 percent on yields
on 50 50 staking using a lot less capital because again I have a
multiplier on these yields I'm only paying out yields to those who want to LP
so what you're effectively doing is it's almost like you're you're using a bribe
system or a gauge system in this case on your LP side of the business to get
people to LP in here and they're again we're able to compete even without an
arbitrary step now if you start to fold in arbitrary rewards on top of
that things can get a little crazy but I think that what people are not really
understanding here is that this capital has to pick a place and when you start
to see these big numbers it is a magnet for mercenary capital they're gonna come
in they're either gonna buy or they're gonna bond in okay we call it tithing
so they're gonna tithe in and then we're just gonna see pressure again for
participants to have to choose do they want to stake or do they want to LP do
they want to engage or do they want to get the real yields and it's this
decision it's this back and forth that's the reason why people would even go into
XP in the first place if you just bought a basket of this stuff yourself
you wouldn't be able to get the same yields out of it that we do because we
have a multiplier and the multiplier is simply from choosing do you want to
stake or do you want to LP if 90% of people are are are LPing and 10% are
staking that 10% is gonna absolutely kill it so we are constantly gonna see
this back and forth right and what is what is one of the best ways to farm
engagement it's it's a DEX whether it's a perp DEX whether it's an AMM or
something like that like the Camelot it's a DEX and so we've built a system
around volatility we've built these incredibly juicy yields that we're gonna
be able to put in front of people they're not deluded in the sense to the
protocol because they're taking other people's stuff and giving them to other
people and so we create this this this new weapon that no one's really used
before and you know we've had conversations with other protocols about
this about building on top of us and you know if you think about a system
like this you could probably imagine in your head a couple people that would be
interested in playing with this stuff but you know again no one's ever tried
anything like this before not without leverage you know you've seen some hints
of things like this before but no one's ever kind of put it together and I think
that people are gonna be very surprised when they see what this can do and if
you you know if you think about going back like I mean I used to contribute at
home so I could tell you this from personal experience like if you think
about the way Olympus work is some people are looking at that and they're like
well it's kind of feels like Olympus to me what's the difference well I
think there's a lot of differences the biggest one is that you know first of
all Olympus didn't have really self-defense mechanisms you know they had
to you know do 50 million bucks or so of reverse bonding they called it to just
try and get themselves above a peg that they have that they've set for their
tokens right like they have this thing where they want their token to be worth
a certain amount and so they had to defend that peg because that was their
whole market but I think on top of that we've also seen that these systems are
unable to keep bonding on every Olympus fork feels the same they're unable to
keep bonding on once the basket of the tokens is worth you know more than the
tokens itself because they're giving out these governance tokens and so this
guy solves this problem I think rather elegantly because one we don't make a
the same promises that Olympus made or any other forks again I'm not dogging on
Olympus I'm just telling you differences in the system and two it's the fact that
we're paying something out in real yield means there's always a market you know
if in a hypothetical situation of XP is a dollar and it has 40 cents of
efield and it goes to 50 cents but it still has 40 cents of efield are you
more or less interested in buying XP at that point because at some point
we hit the point where market participants are gonna come in and say
alright enough the yields too big I have to buy it and so it's a system that is
built to be self-sustaining to grow and if you really map this concept out and
really scale it the purpose of XP is to actually eat all of the best fields in
DeFi to the point where they get compressed down and we have to go
somewhere else or go down the yield curve so like if we're right about this
you know I can buy a hundred million dollars of convex
we'll start to compress the yields if I buy you know a hundred million dollars
you know we have to think about when we're dealing with these with these
type of models and I think that we've got the chops to do this type of thing
we're a team that's built before we have this model I think it's very
mathematical in nature but I also think that it's it's really quite simple when
you understand it it's just the push and pull of non-dilutive yields and the
choice between a multiplier or just believing a you know the system is
gonna keep sucking in capital so I'm along for the ride and people have to
make that decision because there's no right answer and I think that's the
beauty of this there's gonna be threads written about which way to go with it
there's gonna be you know you might have protocols that'll build one side
versus the other there's all kinds of ways that this could be built on but
I think what's interesting is that you know I just I'm on a space that talks
about Arbitrum and I'm talking about all these aren't non-arbiturum coins
and Arbitrum coins but if XP represents that basket to some degree if if it
represents the yield and unparalleled liquidity like you can't get liquidity on
DLP if you're locked in for 12 months you're in for 12 months but you could
get exposure to those yields from the radiant team and you could just go and
sell into the XP EPL if you want when you're done these are things these are
problems that XP solves you know when ETH is five figures in the next cycle in
a hypothetical situation who's able to farm on L1s like people are priced
out of mainnet and so having solutions that work cross-chain to bring some of
these protocols to bear are very very good but if you think about from
Arbitrum situation Arbitrum is gonna love this because now I've got
some representation of these tokens that are sitting in an LP or are sitting in
Isekai but if they're on Camelot what happens when I bring I don't know how
much liquidity of all these tokens into this new token this XP EPLP what
happens to the volume on Camelot what happens to the the the fees that are
generated what happens to the validator stuff that's going on like what happens
to the ecosystem when you have all these people that are now able to come here
farm this kind of thing I mean that was I think that's one of the sexiest things
about about building these types of cross-chain ideas is that you get to
actually build a whole community and you get to bring folks together that are
strange Medfellows like convex has no business having liquidity on a
competing decks on a chain it doesn't exist on but it'll exist here DLP
doesn't have liquidity but it'll exist here on chain in a tradable format where
it previously does not I know that's a lot and I know conceptually like you
know and again this is why we've tried to cookie crumb this out for folks we've
got a great article coming out this week we're really excited to share it
with you I'm sure people have a lot of questions on it but I want you to really
think about you know we've talked about holy for most of the time that we've
been talking about Camelot but it's important to understand here that with
XP XP enables and is able to flywheel the entire system because the the power
of XP the growth of XP the yields that are generated and then the ability to
just go and buy more things to get them into that base well what do you think
we're gonna be buying I'll leave that for people here to decide because I
think that there are people listening to this right now that are very much
underestimating the sheer by pressure that this thing is gonna put where it
wants to go yeah that was a beautiful TED talk thank you thank you I I practiced
it in front of a mirror 14 times this morning had a buffalo bill moment you
know so that was it but but it's true I mean I think like you think about it a
more simplistic term like all these liquid wrappers that exist out there a
lot of them are frankly relatively vampiristic the systems and X you know
XP ensures that when we show up and we want to build a liquid wrapper for
somebody you know we bring you know beer and wings to the party right like
we're literally saying all right we're gonna show up we're gonna put by
pressure on your token we're gonna put all this newfound liquidity that was
never there before we're gonna point it somewhere strategic now go compare that
to somebody else what is your liquid wrapper gonna do well we're gonna lock in
stuff okay what else crickets yeah I mean it sounds like you guys like crack
the code in terms of the yield and liquidity issue so yeah really hard for
you guys to to launch an arbitrary room and we couldn't be more pleased to
launch this on arbitrary honestly because yeah when launched that's the real
question here well I think that's the question people want to know well you
know look a couple things one we have an incredibly talented dev team this thing
is one of the largest like so every time we've gone for a quote on this
thing they've all told us the exact same thing which is this is one of the
larger code bases we bought which is not what you want to see because that means
that you're about to get a bill with a lot of zeros but you know we've been
working with Hal born I will tell you that our preliminary audit report is due
today which means that the guys are gonna have to go through remedy what's
needed I would never want to put this thing out there unless the guys told me
that it was 100% and I'm not a dev and I don't pretend to be nor do I play
one on TV but I can tell you that you're not gonna have to wait much
longer and one way or the other I you know if we will get this we will get
this important project out to you and it will be very exciting and I think that
when you also think about the timing of things when you think about like where
we are in the market where we are in the cycle have alts done well have they
not done well what what is the value of things that pay out in each how is each
done versus alts when you think about just in general how you'd want to
structure this thing it is a very compelling case to be able to turn on
XP at this very moment in time given that the cost basis would be very good
for long-term potentially for long-term folks and you know that's not financial
advice I'd never give financial advice but you know if I'm gonna you know if I
take a look at something like aura that's gotten beat up pretty good for no
reason really that's pretty cool I want some aura
there's examples like that all over crypto I mean what's convex three bucks
what was it at the top of the cycle there are just opportunities here for
scalable real yield and is a guy is going to be the name of when people think
about just gamifying this whole thing
yeah for sure and I think the really cool part about Ithaca is that I mean
you you have like arbitrary og projects like contributing to this I think that's
like the coolest part of in more ways you don't see that anywhere more ways than
one yeah man yeah I found that really cool to see just like a group of
degents across arbitrary coming together as like a force like build something
cool like so super exact when you think about it like you know when we went
through the last cycle there are projects that that really mooned and I
think the reason that they mooned is that they caught a certain narrative at a
certain time the stars aligned but also they did something unique that no one
had ever really done before you know if you kind of go back to Olympus right a
lot of people were familiar with tomb and tomb forks and if you've never been
in a tomb fork it's a pretty exciting thing don't look away from the screen
for too long but basically what ends up happening is there's a very high number
of inflation on a token people farm that token but then at some point the
inflation gets a little too hot token starts to kind of decrease in value and
once that kind of happens usually that kind of spells the end for the tomb
fork that's just how those things have worked I think when Zeus came up with
the idea it kind of felt to some people like a tomb fork like oh it's
like a tomb fork and they were wrong because what they were able to do was
they were able to create this kind of backing narrative and that backing
narrative was what drove them to be they were actually I mean I think there
were a few billion at the top we're seeing the same thing when people talk
about is a kite they're like well that's kind of like an own fork but
it's not and we fix a lot of the problems that are not present in our
protocol that still exists even in size of home I mean owns a couple hundred
million dollar market cap protocol but that's only half the project so I think
that you know it in defy there are problems worth solving and some people
will just fork stuff and they're fine with it but we're not we don't want to
fork stuff we want to make new things that are exciting and look it's the
risky right new ideas always are dangerous and they're risky but if you're
gonna drive the space forward and you're gonna move the ball and advance it and
try and get people onto something that maybe no one would have dreamed about a
year ago but now they're they've got this new narrative and this whole new
idea the results are gonna speak for themselves and I think that the best
way that we're gonna be able to show people what XP can do is to turn it on
and I think when people see what this thing is they're gonna be very very very
interested to learn more we're happy to talk to them in our discord where we
have wonderful stickers that you could use across defy please make sure to also
follow us on Twitter we post some funny things that was my little plug in my
show for our socials but yeah I think it's I think it's gonna be very
interesting and I think people are vastly and grossly underestimating
what XP is gonna do for the surrounding economies on Arvajam bullish on Ithaca
bullish on all of the stuff that's gonna go into Ithaca and where it sits
100% yeah I mean it is crazy too I mean how long have you guys thought about this
idea I'm sure I'm sure like so took a while for you guys right so the guy
that kind of came up with the concept sometimes I have these ideas and the way
that he likes to kind of characterize my ideas sometimes he's like you have a lot
of bad ideas but sometimes you have an idea that's like a diamond but it's
like really rough and covered in excrement I won't use the same
language he did he's like it just needs somebody to kind of polish it up a bit
and I won't say that I came up with this idea just like very generally the
idea of kind of like basking these things but once he applied these
classical finance concepts to it things got a little crazy and so we came up
with the idea over a year ago and really it just you know kind of took
some time to iron this stuff out and get the math right and you know we brought in
some folks that that could kind of help us realize some of the math and make
sure that things looked right and then it's just all partnerships and business
development right you know I mean we've been on the AMA circuit I feel like
we're doing as many amas as Arbitrum is which I don't know how you do this
true because you're always talking you're always live but yeah I mean it's
it's you know it's a lot of prep it's a lot of you know talking to folks and if
we're having a conversation about a protocol's lifeblood their liquidity or
something precious like their you know rewards that they got for moving over
their protocol on liquidity you know we have to have a pretty compelling case and
you know again I think we're really excited about about what is gonna
happen when we turn the system on and I think that a lot of the folks that
we've spoken to we've kind of prepped them mentally for this but I think it's
one thing to say it it's another thing to see it and yeah we're like I said
we're as soon as the devs give us the green light we're off to the races yeah
not sure are you gonna press the button I am NOT gonna press the button that is
gonna be ultra and only ultra who is our lead dev and one of the most careful
and talented people I've met in the space
shout out to let's get in a toro to press the button actually our our content
advisor honestly I would not trust me oh I would there's something there's
something most people don't know about it or which is that underneath all of the
memes he's actually one of the most intelligent strategy people that you'll
meet a lot of people don't know that most of the content that comes out of
your favorite protocols comes from the mind of the the mind of Natoro along
with some pretty disgusting stuff that gets posted in other places but that's
not the point I mean yeah and it throws always everywhere man yeah I love seeing
that is and I was gonna say before we kind of you know wrap up and I know
we're getting to the time just want to give a special thanks to the folks that
kind of helped make this possible you know incredible BD team you know looking
at you Bobo and guys like Jeremy who stepped up and made some incredible
introductions and the AWVC guys the Ducks quack you know they're on we got
sir Dow these guys were incredible believed in us super early on guys like
NGC guys like marshland and and you know there's a lot of angels that I won't
mention their names some want to be mentioned some don't you know we posted
all that stuff when it happened you know and and the guys over at space
whale who have their hands full but somehow found time for us and so we're
just really thankful to be you know surrounded by folks that believe in the
vision and believe what we're building and we're gonna deliver and I think
people are gonna be really excited about this I think it's gonna be I said this
in every one of the meetings that we did when we were talking to people about
this and this is not me fighting perps or anything like that but I said look at
least it's not another perfect exit like a 50 million dollar valuation on like a
sidechain like this is something you've never seen this is something brand new
and you know if you're gonna try and hit a home run you might as well make
it a grand slam so that's what we're trying to do here
sounds like you guys are gonna kick start the next d5 bull run it'll be on
arbitrum the home of defy let's go do it I'm ready go notch well appreciate you
for for joining us today you and yeah thanks for letting me show for like 45
minutes I appreciate Charles like it's great when I talk the notch because he
just talks and I can rest my voice for the next day in me cool well you know for
everyone that are interested to learn more about it's a Kai make sure to DM
notch on Twitter go join your discord follow him on Twitter yeah thanks notch
and everybody for joining us today and wish you guys the best thank you
appreciate all your support you guys have been incredible also you know the
arbitrary team and community this is gonna be our year so let's get it oh wait
hold on wait is it this one wait where's the
notch getting rugged the fart one was a great way to end it just stopped it
there all right boys have a great week cheers everybody peace