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Are centralized exchanges doomed? - Dogechain Roundtable #40
Recorded: June 16, 2023 Duration: 2:34:34Space Recording
Full Transcription
unipilot can i can you speak so i can hear you hey yeah does it sound okay oh good well yeah
sound is great uh i know the the music sound is not always the best but uh it fills the void
while we're waiting so we don't have to have our headphones in uh well in total silence you know
um so yeah guys uh for those that are here uh share the spaces tweet tweet about it i i have
some rdps i have some pixel frogs to give away to everybody that uh contributes to the discussion
to everybody that uh shares comments uh let's get the most the more more listeners if we can uh i know
that uh doge is uh doge what am i talking about rock is still on the on the polygon uh spaces uh
and uh he just said that he was uh going to join us shortly so we can uh we can wait a few moments
for him to join if he doesn't in five minutes we can we can get started started discussion uh
uh we can also invite some of our uh ambassadors or uh or community members to participate in the
discussion here uh in addition to having unipilot as our special guest that they deployed their
uh their uh product on dot chain uh recently we're also going to talk about the the latest regulations
and uh what it means for crypto especially especially what it means for centralized exchanges
and uh what it means for dexes and don't chain in particular in the future uh so if you uh have
any insight about that yeah please uh i see penny has some issues with his internet but uh uh i know that
a lot of you have uh insight on these things and uh it would be great to hear uh what you think about it
i know that uh the guys from unipilot will also have some some pretty uh juicy insight into this topic
i'm uh that's why i selected because for today uh in any case uh let's uh run another song in the next
five minutes uh while we're waiting for rock and uh we'll keep it pick it up uh in like uh five minutes
if that works for you guys if that works for you guys so let's uh talk to you in uh in five minutes
I've got to discuss their product on the chain and we're going to discuss the latest regulations
in the crypto industry and what it means for the future of our space.
go I see that rock hasn't joined yet but he will shortly as I get I guess he's
still in the in the polygon space is speaking there but we can get started
already and let me just get started with some some information about the the
dot-chain ecosystem so as you might know Unipilot launched their product
recently on chain which is linked with quick swap it's a great product that will
help everybody that is struggling with v3 liquidity management we will talk about
that more in detail with with with their team but in addition to that as you
everybody must know by now the governance vote to remove the threshold on
on governance has passed which means that the tier tiered boat vote is going on
and that the community has until the 23rd of July to lock in their talk with
tokens into the VDC model to get that numbers those circulating supply numbers
up so that once we reach at least 20 percent locked tokens from the
circulating supply we will burn ten percent of the supply and this will
increase as as long as the number of tokens the percentage tokens is locked in
the VDC so the balls in the community's hands you guys get to get you lock your
tokens to get a stronger burn and possibly there's rock and possibly get a higher burn
that would go up to 25 percent which means 25 percent is of around 50 billion tokens if I'm not mistaken
from the 200 billion token total supply yeah that's that's what I had to say about that and
and uh rock is uh is co-host now hey rock uh hey guys getting out of that heated discussions in uh in the polygon spaces which I was uh I was attending earlier that was interesting yeah pretty crazy uh crazy stuff we're we're not going to go full on politics this time on this on this space here
we're less politicized and more uh more talk about the industry in general but yeah we we never know
how these things go so uh let's let's get we just go where the conversation takes us but that was a fun
one uh yeah that was pretty cool having having a bunch of politicians on a bunch of you know lawyers
and different kind of people uh that was pretty fun people got a little heated for sure uh I don't
know I don't know they got pretty triggered with each other uh Peter and uh Stephen McCarthy
from Arizona uh they got pretty heated with each other pretty quick it went from zero to 60 real quick
I don't know why uh yeah it was I think there's some animosity in the background there uh that it didn't need
kind of proves the point they were making yeah it kind of proves the point exactly so yeah it was it was
interesting to hear that I I usually I was a uh a speaker on the spaces but it it got way too political
for me to to hop in there I didn't want to to to to give too much of my insight first of all I'm not
American so uh I I can give my insight from a European uh point of view but uh yeah you guys you guys
have uh have your issues uh and uh I mean this is a global issue though man uh I do I do agree
yeah yeah of course I agree for example let's see uh Binance pulled out of the Netherlands today
uh they announced that so uh it's not only America so uh cryptocurrencies are are difficult to regulate
that's the it's a challenge for many governments and some of them are not taking the the right steps
uh I know that we have we have some ambassadors from uh from the Netherlands I don't know if they're
on the spaces here today but uh from what I've heard it's it can be pretty challenging to uh to handle
your crypto there which is pretty crazy because one of the biggest for example uh bot services which
which is crypto hopper is uh is based there and uh I know because I I uh I've written content for
them and they had so much trouble with with regulations there and uh you know just simply
declaring taxes etc it was a nightmare for them uh so even like a few years ago they were already
thinking about moving from there and as we see Binance today announcing that that they're moving from
from the Netherlands it's not a good it's not a good thing for anybody uh but yeah it is what it is
uh hopefully some of these uh will uh countries will will you know circle back and uh and try to think
for a more fair regulatory overview or more clearer which is uh the main issue at the point at this moment
is the clarity the the lack of clarity is uh is the biggest issue that we've uh we are seeing
these days and extend the thesis question are are are centralized exchanges doomed yeah is it such a bad
thing if they are in the short term in in the short term it's not a good thing for sure because
they provide a short term they provide a lot of off on and off ramp to the crypto industry for for
for the mainstream uh that's sure they'll be scrambling until they find another workaround
so if if centralized exchanges uh are unable to to for example provide even usdt or bitcoin
we're in a in a in a lot of trouble because how do you enter the space if you if you cannot buy it
cuts off our communication with the outside world essentially exactly exactly so you need to start
mining to to get access to crypto which starts in another you know mining or staking or how do you
buy tokens on dexas if you don't have usdt or usdc or eth or bitcoin or whatever how do you do it how do
you enter the space they're they're just that's what they're doing they're they're cutting on and off
ramps which is uh a bit too late to be honest because there's so many ways to do it uh and uh it can
be uh yeah it will just push it into the gray area instead of uh making it uh a lot of people
don't know but there are there are definitely solutions to that problem like local local
monero and local local bitcoin are you know two extremely viable options for getting fiat to
currency and yeah but what was that other thing that closed uh which was uh similar to local bitcoin
uh uh you could buy bitcoin or sell it with gift cards etc let me check what what was the name of
that exchange it was also like uh peer-to-peer uh stuff with uh with an intermediary uh through the
website but uh yeah it was really sad to see local bitcoin close down you know it um like having a way for
people to uh transact with like literally peer-to-peer uh like with some kind of like trust
level and i forget their exact model but whatever it was it was working for people to be able to trade
with each other and uh isn't that something that should be encouraged i mean i think so yeah it's it
really is sad i i always have recommended uh for a long time local bitcoins is the one that closed down
oh yeah they closed down like last year i think jeez i don't even know that yeah local monero is still
kicking i know that oh really that's an even weird
your one why would that be they closed local bitcoin but not you're breaking off you're breaking up
hello hello not really can you try again hello hello yeah there yeah no we can't yeah it was
paxful paxful paxful also closed oh yeah paxful whatever happened to pax usd is that still kicking
i'm not sure they're stablecoin i don't even know i never used it so
actually actually the last time i the last times i bought some crypto was uh through metamask
directly uh yeah you mean uh yeah you can uh in certain countries you can you can actually buy
through metamask buy buy eath usdt some some youth uh based coins yeah yeah you're right yeah that's
uh yeah i think i think on quick swap you could buy on with finance pay or uh i think coinbase pay
uh and a bunch of others but uh there's a lot there i mean there's lots of ways to buy crypto oh
yeah there's a point though of local bitcoin was that uh what about it bisk it's yeah bisk out there
too yeah that what is there still around yep but how does that work so that's that's peer-to-peer
yeah it's peer-to-peer that's cool
it's an actual app like uh i never used bisk but i had friends that swear by it but like it's an
actual app like supported by its own chain i believe too like uh so it's kind of like that deal
but uh yeah like i have friends that swear by it bisk
that's good that's good to hear that that there are uh you know additional alternatives uh you know
i know that locally in my country there's like booths where you can buy bitcoin and uh
none of them are super illegal but uh who cares you know step over to the hooded man in the booth
you know what's interesting is i think do you have to you have to do kyc on like relatively small
amounts of bitcoin but like when you buy gold i can't remember if when i bought i bought no amounts
of gold from shops and i don't remember having to do kyc never maybe i never never never because i know
i know uh my uh in-laws they bought like uh two grand of gold uh for uh for some
wedding present or something to to some clothes ones and uh of course there's no kyc nobody asks
you anything uh but if you want to buy the five dollars of bitcoin you need to go through like
kyc and put up your selfie and uh you know your address give out your uh latest electricity bill and
whatnot i mean uh just because uh you know it's uh decentralized and there's so much thought about
uh crypto being uh you know um a gateway to criminals etc which is uh partially true but when
you see how much fiat is used for for criminal activities i mean uh the percentage uh that
crypto is used for criminal activities is so small compared to what fiat is used for i mean the argument
falls on its face when you think that you know if it was used for criminal activity obviously the dollar
is and like you look at cars right some cars are used in in bank robberies we don't ban cars right so um
yeah it's it's all a little ridiculous i i mean i think at the end of the day it's people feel threatened
the incumbents feel threatened the big businesses that are there the banks feel threatened and so they're
able to lobby to fight against uh us the new guys but luckily we've gotten pretty big i mean the crypto
industry is in the trillions now sorry i don't know why in la absolutely i guess i'm near lax so i get a
lot of i'm not that close but get a lot of planes and helicopters going overhead but um uh yeah i lost my
train of thought now i mean one thing that one thing that we can you can all agree on is that uh crypto as
an industry is challenging the the centralized banking industry which has been there like for decades and
and and when something like this happens it shakes you know the foundations something like uh like
what is happening with respect to regulations it's pretty much expected but what i specifically if
you talk about binance i mean they're uh they're like uh service with respect to how much uh they're
reachable to any origin of of the world is pretty it's pretty good and and this is why a lot of
people you know are thinking that what's happening with finances it's pretty bad and then what is
happening with the with them with respect to regulation just just from one country which is united states
it's definitely something which is you know uh making everyone pissed off so i think it's an expected
thing that uh the uh the regulations are now picking up and regulators are challenging it because
uh something like this definitely has been you know expected to happen when when this industry
which has been around like for like six or seven years but now it's actually starting to
um question question the reliability of the banking system
hey we've been around for 14 years man bitcoin yeah defy he means i i think he means defy because uh
our industry uh meaning defy the centralized exchanges etc that that's been around for like
since 2015 let's say since the the uh advent of ethereum and uh smart contracts but yeah
yeah decentralized satoshi definitely disagrees with me but yeah what i'm talking about is about
the general adoption it's about you know from my perspective i'm from i'm from pakistan and and the
access of binance or any centralized exchange it is it's become just become you know accessible to
the people when binance actually uh decided to expand to this region and it's still here uh in in
my country university no like a lot of young people they know about it but it's not really usable
um it's not really usable from your own bank account and you have to like think of the ways to
circulate your money from from your binance account to the people who will you know p2p transfer to us
so it's relatively pretty new and even at this stage you know it's expanding while while now now
now this platform is again facing this sort of situation yeah yeah i i agree with you and uh i i
think that binance has contributed uh i mean not only binance also all the other centralized exchanges
as well but binance uh got so so much popularity all over the globe that it contributed to the to the
adoption of crypto in general so uh seeing that uh it's being attacked at this point is uh is somewhat
understandable even though it's uh it could cause some some some concern but it is understandable because
it is disrupting the the the banking system for for a lot of people i know that uh in my country
uh which is not in the eu and has a very hard time to to transact with in euros and dollars we need to
pay huge fees to get get money uh from abroad into here uh people are quickly adopting crypto cryptocurrency
for for this and uh uh even freelancers that were receiving their their money from the us for example in
dollars uh and in their bank accounts they have uh slowly shifted a lot of them uh from from this
my circle of friends have just shifted on to crypto because it's so easy it's so much easier it's cheaper
and uh you you you you remain in control of your funds instead of uh never knowing if your bank is
going to block your account because you transferred from a crypto exchange or something like that
there's always that uh the danger looming from uh from these banks not not just in that not just in
that way i mean so that's like oh well they're freezing you because you interacted with crypto and
they don't like that or whatever but you know there's been plenty of times in history many many many
you know tens hundreds of times where banks and countries have frozen people's assets for for absolutely
no reason that was a fault of their own like in uh cyprus and and greece and now i think cyprus was
the was the biggest one uh where didn't they seize like savings or something like that or uh
they froze people's they froze people's money in the accounts and they they took people's money they the
government said the banking system is at risk of collapse and we need to subsidize it
we're losing you again the government came out they called
as before too i won't speak in this section of the block i'm walking right now can you guys hear me
hello i guess how are you yeah it's a little bit better yeah okay um so i guess it's that
section of the block there must be some it wasn't better
i'm not in the open let me pick up from here uh a minute it's worse
yeah it's worse let me pick up so just uh so cyprus and uh yeah i i remember i was a kid
before i went to belgium it's a beautiful morning no i'm just kidding it was uh it was
yugoslavia was uh was breaking up and uh the same happened here there was hyperinflation and uh for a short
period like for two months uh bank accounts were frozen but since there was hyperinflation
the the the the savings that people had uh in their bank accounts were actually worthless one
once the their account for accounts were unfrozen so uh to to uh remedy to this they they kind they did
one uh uh an incredible incredibly stupid thing you think it's a cartoon or something like that
they just erased zeros from the back notes so that so that your the the old money was worth as much
as the new money so it was it was insane they just uh they erased inflation that's what they decided to
do it was an insane period of time the 90s was in the balkans was was pretty pretty crazy yeah that's
like in the midst of lines of cocaine and let's just erase the zeros yeah yeah but it i mean this
the effect was still there just to be clear with everyone that didn't change the situation uh yeah
yeah for sure for example a carton of milk was uh worth one million dinners and uh the you your salary
was like 10 million dinners and then the carton of milk was still worth one million dinners and your
salary went to one million dinners so it's people were were unable to eat or or buy anything uh
substantial for their their housing it was insane we laugh about it and we call it a cartoon but it's
really you know it's really not funny people die from these situations and people lose their livelihood
um yeah it really is you know one of the interesting things that actually made me really
interested in bitcoin originally when i learned about it in 2015 was uh the the stuff that happened
in cyprus where basically at the time of that uh when all that was happening and they were taking
people's hard-earned money that did nothing wrong uh except for just trust um when that happened
bitcoin's price went from i believe it was 40 to 250 dollars uh in a very short period of time
and a big part of it was because people in that country were buying bitcoin to try to escape uh the
government uh stealing their money that was that was that was which is what everybody should be doing
by the way yeah that was the first big macroeconomic event that ever spurred bitcoin's growth really really
cool uh case study to go look back at and we see you know by the way recently when
these different banks started going under bitcoin didn't go down it went up
pretty interesting yeah despite the the the huge uh downturn uh economic downturn and uh people not
having any money uh floating cash you know to buy uh crypto bitcoin still went up which means that
the narrative is there and people are actually accepting it even more today than before uh by
the way inverse has their their hand up for for quite a while now oh yeah yeah hey inverse we are decoupling
by the way i mean in a lot of ways right um we don't follow the stock market over the last six months we
have not been following the stock market we're much more correlated to gold actually now very interesting
um and uh less correlated to tech stocks uh it's it's interesting to see i mean i think over time
that's what happens is we become you know more of an inflation hedge we begin to act separate and it
doesn't mean we go inversely correlated to stock market necessarily it just means we we have you know
less correlation not inverse not negative but different meaning uh not one or negative one but maybe zero
right just no correlation or less correlation to these things uh or maybe like negative 0.2 or
whatever you know maybe partially negatively correlated like like you know kind of like gold or something
but anyways inverse so uh let's bring inverse up and inverse is a cool cool project they do the uh
the polycon events which is the virtual conference where we spoke and doze chain had a great booth there we
had i think most of the people at that polycon i think the biggest showing was definitely definitely
doze chain even more than quick swap doze chain was coming in with force that was really cool uh but
hi inverse how you doing i'm doing fantastic rock i really appreciate it and everyone that's here
listening if i could just dial it back a few moments when you were talking about uh in in the previous
spaces that you had with all roads lead to polygon there was a heated discussion about like fear
fud that was happening around cryptocurrency i just want to bring up the the greatest talking point
that i like to kind of uh share with those that are in a heated debate about where the true crime
exists right where the suffering exists as a result of you know the the intellectual property that we all
know is like central currencies central bank currencies uh fractional reserve currencies so let me give
you one quick point that if anyone ever comes to you and says well crypto is where drug trafficking and
human trafficking in the dark web and all of the terrible things that happen in the world exist because
that's where they hide it's bullshit and let me tell you why don't forget child uh child porn
oh 100 100 don't forget sex trafficking right it's all it's all a result of this right
here are the numbers right here are the numbers that you need to remember
and let's just talk about a lighter side of it which which people can relate to a little bit more
because i feel like you've been defrauded at some point you've gotten that email from somebody in
Nigeria or you've you've gotten that text message that says click this link and go over here and give
us your you know verify your your mailing address so that we can confirm your shipment is on its way and
you've all experienced it right so just in the u.s alone in the past year 5.1 trillion dollars have
been defrauded or apologies no let me actually back up that's globally guys globally so while it's you know
closer to around uh about a eighth of that which happens in the u.s globally there's 5.1 trillion
and this is coming from crow.com so if you you just to kind of provide some sources here go to that you
go to their website you can read on the report uh in the u.s it's about um a little under a trillion
dollars i think it's uh in the billions but the the idea here is that if you are to look at the full
i guess value of the cryptocurrency world you're looking about a trillion dollars give or take with
about a 2.2 percent increase annually that's the global crypto market value today is about
one trillion dollars now you know don't quote me on that i'm just doing a little quick search just to
kind of get a snapshot uh that might not be including you know nfts and you know some of
the gamification that's happening there so just weigh those two the size of the fraud that happens
which we can actually identify and measure that's only what has been reported which is generally when
anyone's trying to you know um do conduct research in and dive into this they're really only uncovering a
portion of what is actually happening when it comes to just fraud so i don't know if that helps
anyone but please don't fall for any of that fud when someone tries to present an argument that
blockchain is where danger lurks and that you're at risk and it's like okay guys let's just the whole
point of blockchain and cryptocurrency is to render the old systems obsolete it's to make it so that fraud
can't happen as easily to provide transparency and better liquidity of your assets and anyone else
who tries to convince you otherwise they're completely bought and sold and in fact i wouldn't trust
anything else that they have to offer you and i would say like look we've had some fraud and stuff
in the industry and we've had uh you know like look if you have something that's less regulated or more
uh like uh the wild west you could call it uh cowboy entrepreneurialism sort of and i mean that's
what america was really built on um but when you have that there will be uh some people who take advantage
of that right um but over time then we build systems to protect people against that and also learn to
make decisions for themselves and stop being bubble wrapped i don't need to be a bubble wrapped i want
to make my decisions i would rather have more of an opportunity for profit and using my own brain
to make the decisions then the government makes the decisions and then there's no you know there's less
upside uh and there's like tons of inefficiency through like massive amounts of taxes and regulatory costs
etc um like you know so like on that note of when things start sometimes there's you know it's a
little it's a little less polished it's not as sanded down yet i mean look at when bitcoiners and i'm
a bitcoiner i'm not a maximalist i always say i'm a maximalish i think bitcoin's the king but it's there's
other great technologies out there um so like when bitcoiners saw ethereum they thought what are you
talking about touring complete that's crazy do you know how many attack vectors you're opening up
and they were right and there's been tons and tons and tons of hacks uh on ethereum not necessarily
ethereum the protocol itself but the things built on top of it because when you when you open something
up to this like full-on touring complete open language that you could build anything you can
imagine of course you're going to build things with errors because humans are flawed uh but over time
we fix those errors right we get better auditing we get automated auditing you have chat gpt now
doing auditing of smart contracts and finding things that the auditors themselves invite you have
people having better practices learning the right way to do things right the right way to raise money
and not to like just buy into a white paper like we talked on the last spaces don't just buy into a
white paper hopefully there's a product in the product that is getting battle tested and audited and
improving and so like yes when when you have less regulation there is going to be more bumpy surfaces
you know you're going to you're going to you're going to kick your shin into the corner of a table
because there's no bubble wrap on it but we're not babies we don't need to be bubble wrapped and i think
that the the the industry and the the consumer is is getting smarter because when you see 2017 16 17
everything was about the white paper and the promises within and uh most of those were completely
unrealistic and people didn't understand the technology and what the promises were and now
people are not especially specifically looking for that they're actually looking at a product they're
actually looking at adoption they're actually looking at the promise that there's actually something
that's useful out there and uh something like polygon something like doge chain that that has has
useful stuff happening behind it not just the white paper not just the promises that something will
come up like like uh i i don't want to shoot names here but eos you know cardano uh i mean cardano
has come a long way back i i i warned i warned people about eos and cardano and i uh i actually participated
in the ico for eos uh and got it very cheap but i also warned people i thought this is interesting
but there was a lot of concern about the decentralization of it having 21 validators who
are essentially all friends like a cabal uh i warned all my i had a lot of friends who were ethereum
developers and uh started moving to eos and uh you know i told them guys i don't know if you should
be going all in on this look i think it's interesting technology stuff they're doing with proof of
stake and stuff but let's let's check it out let's see what happens but be careful going all in and
they were like die hard like religious zealots after like brock pierce who i used to work with
uh over two decades ago but they would like follow his and everyone else dan lear mirrors every words
and yeah anyways fun little walk down memory lane there and by the way cardano i'm gonna come out
and talk some smack right now just so you know quick swap one one application quick swap one
application on polygon and there are 57 000 applications on polygon uh but one application
on polygon and on and on those chain uh has more liquidity than the entire cardano blockchain combined
so yeah i mean come on like guys like how long are we selling a dream here like and how and then when
is it going to actually turn into something like is it just like a promise chain it feels like it's
just a big sales pitch like when i think i think the problem it's been cardano's been being built for
five years i think at one point with all that money they had more like you had more liquidity after
like two months than cardano at one point i mean like they have billions of dollars of market cap and
billions of dollars of hundreds of millions at least of funding i don't know how they don't
have adoption it's weird it's the biggest weirdest thing on the planet yeah like you have all this
money but you can't squeeze out the revenue like the remnants of like a legitimate product out of
your butt like no i can what the hell is going on i i i'm not sorry if people hold cardano by
the way i look i hate to hate on the coins and look i know cardone community and i wanted to i
probably would have been more harsh if i wasn't trying to be like a nice guy but uh i also am
very pissed off at charles hoskinson because he's talked so much shit on bitcoin which i don't respect
a lot of the issues that hit with cardano and like i'm not going to say i drank the cardano kool-aid
but i was looking forward to seeing what they were going to come out with like after you know 2017
i wanted to see with this research this research you know uh approach they were taking this student
research approach i like that i did i have published genetics research i did research i love the i love
you know university research driven like way of looking at things but um where what's happening
sorry go ahead owen yeah so this is kind of the thing with it i can't really complain too much because
i bought in fairly low on it but when they released the actual the tech paper on how the
smart contract layer will be operating i think cardano was at about two dollars fifty around then
and i sold every last bit of this like i mean i wicked the chart after i read it the issue is that
i mean really we've had yeah we've had the last couple of the tech yeah no i i just started reading
through it seeing how things are going to be built on us and the second that i read that i was out
like it it just so we've had the last couple of years in you know seeing how the ethereum
smart contract network kind of you know came to be see all the standards we developed so what was
best for kind of how we were able to how we were able to kind of provide all the defy utility that
was in there and yeah there's a lot of room for improvement and a lot of that room for improvement
will come to say you know making a smart contract network that was actually kind of you know natively
geared towards the type of stuff that we have already built and cardano it seems that they just
went into a room one day in 2017 and said this is how it's going to be they never looked at how any
ecosystems evolved past that point and they developed their own proprietary systems now there's a lot of
problems with them one of them is that it's all built on hascal and i did that in university it was
you know functional programming is great for learning what did you say it's all what it's hascal
so everything you're doing cobalt pretty much like hascal is i really enjoyed in university it
teaches you it teaches you functional programming it teaches you a lot of kind of good standards to
maintain writing clean code etc if you take anybody who hasn't already studied hascal and said yeah go
and learn that and start writing it it's a fucking nightmare like i don't understand how anybody kind of
looked at that and said that's how that that's what i'm going to build with smart contract later on
it's indecipherable for the most part now even outside of that if you know you know your hascal
you have a lot of time to sit down and learn it like solidity is pretty newbie friendly like so i've
always said that's been great for getting people into the actual crypto space granted it has led to you
know the rise of needing good audit industries but hascal doesn't do away with that you can be a great
coder you can still make a mistake when you're writing your solidity like all i put in my head
is that maybe that's what they were looking at they're putting the entry barrier so high that
there'll probably be less rugs appearing on the chain from pure accident either way the second part of
it then is that you know they decided they're not going to go wait did you just say that you think that
maybe part of their thinking was let's make it so hard to use that rogue hackers and people don't come
that that's if if that's accurate that is pretty much like that's the only reason that i can actually
think of like why you it's so fucking stupid man it makes sense that someone would do that
yeah but maybe even if that wasn't the intent that's ironically the way it's played out
pretty much unfortunately nobody is fucking using it like the smart people look at it and go like i'm
not touching that they have so much funding in such a large i mean they have a massive community guys i
won't deny the cardano communities is you can't you cannot deny it's incredibly strong i give props
to all those people as much as they love it i don't know if they're all necessarily the smartest people
i don't because i just i don't get i don't know maybe looking i'm being biased here because i'm
pissed off at charles because he uh i was i was possibly going to debate him once but like i just
don't like that he talks shit on bitcoin i got a personal bias here i got a bone to pick that's
so no i don't like it guys maybe cardano's great i i know it's not i stopped looking at
i stopped looking like i can assure you to talk right on bitcoin i don't like people like it's
like richard hart with hex i would have been much more open-minded to hex if richard hart didn't start
talking shit on bitcoin like you don't need to do that don't talk shit on the thing that made us all
here like i don't mind people that talk shit about bitcoin i usually think they're wrong but i don't mind
too much when it comes to like richard hart is he's a fucking sociopath when it comes to charles
like he just has this ego which is completely unwarranted for building what is one of the
worst tools that i have seen in modern days it's like we already hear it from from an actual dev man
you're one of the devs i really respect in the industry so good to hear that you're you're backing up
my uh my hatred it's like it's okay guys uh like his goddamn talks in front of the camera where he
sits down for like half an hour or an hour and like an old grandfather telling you what's what about
the world it just it like it's it's one of those things that makes you want to start punching somebody
until your arms get fucking tired i gotta say there is some things that i've heard him say that i did
really like there was a one particular quote that that actually i i wrote it down i have it somewhere
written in my quotes log and uh it was that uh it was something along the lines and it kind of makes
sense today uh let me try to get this it was something like they're saying that like we're the
crooks uh and criminals and uh man i'm not going to do this justice i'm going to go find it but it's
something along the lines of where they say we're the crooks and and criminals and no like this is what
the system was built they're the crooks and criminals and where this system was built to expose that so
i really liked when he said that on stage with i think andreas antonopoulos once it wasn't until
like you know one they just never shipped it took years and years longer than they said to ship the
actual product and they just kept you know raising money getting all this money and not actually
shipping a product it took him it took them like four years four or five years to launch and then when
they launched they didn't even have smart contracts yeah and it ran at about one transaction per
i think it actually came out like 0.6 transactions per second at the end of it so you're talking like
a magnitude below what ethereum could do but like the last kind of major issue compared to what what
dose chain could do exactly yeah i mean they and they're meant to be an ethereum competitor they come
along dose chain is probably you know hunt i don't know now i haven't seen it in a while but compared
to the numbers i was seeing a long time ago dose chain is like hundreds of times faster than cardano
and cardano's got five or six billion market cap or something yeah so this this this was a
nice parenthesis it will teach me mentioning your child hold on hold on is anyone is anyone love
cardano though like i don't want to let's does anyone love cardano in the audience i know aztec used
to be a big cardano guy i don't think he is anymore but is anyone in the audience want to hear some
opposing points yeah i really i really doubt doubt that uh doge chain and meme coin supporters have
uh have anything to do with cardano they probably should but you never know man you never know
yeah it's it has become the ultimate meme coin yeah it's the meme point without even trying it's
amazing but like and apologies i mean no i will say that i am going to pick up some cardano simply
because i will say one thing about charles he doesn't have to talk now this is one of the worst
reasons in the world you can think of for picking up a coin it's just simply because yeah he will
talk he will start pumping it and i will get a nice exit again so if you're into that side of crypto
sure take the gamble on us not financial advice etc but the last thing i'll say about cardano cardano
and this is probably what really turned me off at in the end pascal yeah you can you can overcome that
obstacle i mean if you've got i mean if you've got billions of dollars in tvl people will learn
the language and they'll build stuff for it but the actual architecture of it and again he rips on
bitcoin but he's like instead of going the ledger route which is what polygon and ethereum and pretty
much every other network uses use a ledger for you know how we actually carry out transactions and how
we store data and stuff like that cardano is built on the unspent transaction output now it's
extended it's a little bit more complex than what bitcoin would have on us but as an example of
how that would work let's say you're swapping they're using utxos yeah it's all utxo now it's
extended but like to give an example of how you know that works on a smart contract layer if you want
to do a swap like one token for another token and i believe this is how it was a musili swap or someone
they have to implement it this way but essentially when you're doing a swap you have to mint an
nft which essentially shows your position on the side of the swap and then the other
side of it has to also like have an nf or they have to write to that and it basically it makes
into like transactions for the sake of one transaction and if you can look at that on
a smart contract layer network where you're doing four times the amount of work on a network that is
you know 15 or 16 times slower than ethereum already how would you scale that and then everybody
is all high and it will make everything better again but when your network is inefficient to begin
with like you are really fighting an uphill battle but yeah that's what you can't you can't you get
it's a lot harder to do to take on like things that are built on ethereum or polygon like you know
polygon ck roll-ups this is proving to be actually really incredible technology but it becomes very hard
to implement now like there's actually some bitcoiners surprisingly that are saying that zk roll-ups some of the
bitcoin maxis are even saying that zk roll-ups are an interesting technology now pretty pretty nice
acknowledging this but it's hard to implement on bitcoin though it's hard to implement everywhere like
zero knowledge um if you asked me five or six years ago i would have been one of the people who said
you're not accomplishing a zero knowledge roll-up within like two decades it's just it's a really difficult
job so i think a lot of it came down to the fact that you know polygon was able to fund
uh like buy out and you know essentially amalgamate so many of like kind of the leaders in that area
and just see a sheer amount of resources that were poured in by polygon and other groups during that
time it just it pushed the technology forward years and what we have now with that is like i was
actually getting a little bit bullish on solana just purely because of the network because the novel
kind of consensus mechanism that they had in that kind of like proof of history they did i was like well
that's going to take over because nobody can match that kind of speed yes it does need a lot of
centralized resources but as far as an actual blockchain goes this has it like as fast as you
know a regular database so it's going to be used now that we have zk it's like no solana is probably dead
too and i'm actually quite sad in saying that but there's like i think for all the mistakes that are made
with solana it was essentially what cardano should have been it came out it was extremely fast yes it was
unreliable at times but most of the time it was okay but more so than that it created an actual
alternative to evm like you use rust on solana it had an alternative to it there were some great
standards that were developed around it i do genuinely hope it does well because it built such
a great community of builders over there but um now that zk is out it's kind of like they're not
going to have that speed advantage and that cost advantage yeah i mean look they sacrificed they
sacrificed so a lot of people try to address the the scalability trilemma in different ways and they
tried to address it by increasing centralization to decrease like uh you know cost of transactions and
like increasing throughput and stuff but basically they gave up decentralization to get speed right
where pretty much yeah but the cool thing about the way that
i think we lost you rock it's calling you guys hear me that was someone calling um no can you hear
me now okay yeah so like they sacrifice the old way i think that that's how it works is the way i
i look at the scalability trilem is you can't have all three right you between security decentralization
and like speed throughput cost um but you can't have all three so you have to give up one to get another
the way you solve that though is you don't you don't do it on one layer you do it on subsequent
layers so you get the security and the decentralization on the base layer you get the speed on the layer
two through lightning network for bitcoin or for zk rollups ultimately for ethereum and so now you get
the full you still have full decentralization full provability and security on chain on ethereum with
the proofs but you get the speed of web two i mean there you go who else is going to compete with
absolutely that's pretty much it like that's why polygon kind of i think they have it in the bag
it's why that whole sec thing really fucked me off when it started coming out it's like right you're
going you're really going to do this for you know the kind of one thing that's pushing ahead right now
and doing partnerships with all of these you know web two companies and you know trad five areas
well we won't call them trad for like uh trad companies and like you know the actual tech
companies like facebook and then you have nike and stuff like that and then gensler just turns around
and goes oh yeah you're a security now just because yeah but uh does it seem to get to you guys that uh
the choice of these assets that the sec listed in in their uh plane was pretty much arbitrary or just
because it doesn't feel like it's something that was researched because if you want to go
a little bit further you will find hundreds and thousands of other assets that that are similar
to to matic or ada completely and this is the jilted lover and this is just uh arbitrarily choosing the
guys that have the most money so they can pay up for a fine or something like that shows you how much
you don't know that's the thing it's not but it's not arbitrary that's not arbitrary that's
calculated that's yeah let's get them to pay a big fine let's make a name or let's make an example
out of them look the sec is not is anything but arbitrary that they are they are they're arbitrators
i guess that they're they're anything but like random right they they plan this no not random yeah
yeah they they have a reason now now does is the reason what it should be that these are the worst
projects and the scammiest or doing bad things or hurting consumers that's i don't think that's
what it is i think there's some other motives here whether it's you know making an example of
certain people maybe it's just people that they have the best case against they think or whatever
i don't know um it seems odd matic seems like the oddest one they're totally not they're not in
the united states uh they didn't uh do anything with the united states citizens um and they're like
one of the most decentralized so it's it's like really weird and india doesn't like fully comply
with the us india is not like totally you know one of these countries that's like
like super compliant with like us like you know uh like extradition and things i mean they do but
they're not like super friendly with us you'd think they would do it with like a country that's
gonna like you know help them to fight them but uh and and also um matic polygon is not even uh just in
india they're in several different countries they have a pretty stout uh like legal team and uh
like they're and they have multiple entities for different things for the development etc
so i don't know so that's gonna be a hard one i think but um i don't know we'll see what happens
at the end of the day yeah with this let's let's uh move on a little bit we can go get back to this
uh centralization regulation guys i'm about to uh if anyone was listening from the the first spaces
i wanted to attempt to do a half marathon on our spaces today and i am uh about 30 seconds away
from uh from getting an entire half marathon just speaking with you guys on spaces so i hope other
people were walking with me i know aztec was on the last one he's not here now is anyone uh anyone
on the panel walking right now getting your steps i'm feeling i'm feeling the dishwasher
yeah i already got this rock chinese food that's that's gonna be me that's my exercise
my heart that's what i need to get that i need to get that after this half marathon
let's go rocky yeah i ate i ate some some meat only pizza without cheese without anything just meat
and bread anyway let's let's go uh yeah that's that's like a special yeah i'll i'll show you a photo
that's like a specialty in our country uh but uh it's it's made from preserved preserved meat uh
like uh like uh pork preserved meat salted and then uh with with a lot of uh pork grease etc
instead of sauce yeah no there's no there's no sauce there's grease there's grease nice
all right guys i crossed the finish line half marathon let's okay guys let's let's move on and uh
have a little chat with uh our guests here you from uni pilot uh we've been rambling on for one hour
and uh they're like our our guests here so let's uh let's welcome them and uh say hi guys and uh present
your your product to our our great community so that they they know who they're speaking to and uh we
we will uh proceed with in with a short ama we can ask you some questions rock is here to to pitch in
with his uh quick swap knowledge as well so yeah let's get that started guys hi yeah i know that
they're they're also on zk evm uh quick swap so yeah excited to to start working with you guys and
see how it works out we're taking things slow we want to test i know you guys are a bit newer on the
on the liquidity management front so uh but you guys uh have a promising team it seems and we want to
get to know you guys more yeah guys thanks so much for having us i've actually listened to quite
a few of these dose chain and the polygon amas it's always super interesting and really important
discussion am i uh glitched are they speaking because i can't hear yeah you don't yeah they're
speaking and i'll reconnect guys go ahead continue bye go on yes i was just saying you guys set a high
bar so we've got to live up to your your uh level of discussion here so anyway i'll just quickly
introduce union pilot for everyone for anyone who's not sure so we go back to before 2021 before
concentrated liquidity was introduced um it was a really easy user experience to provide liquidity
you didn't really have to think there was no skill involved you just deposit the assets in a 50 50 ratio
and the assets will always stay in range and they're in an infinite range so there's no management
required and no thinking you can set and forget uh in 2021 when concentrated liquidity came in this
was really good for the industry this made it possible for liquidity to be far more capital
efficient you know thousands of times more capital efficient which meant that you know the depth of
liquidity that could be provided with the same amount of capital or far less capital was much
greater uh which would reduce slippage when people trade in um but this introduced some difficulties for
most users uh it makes it quite a daunting experience as the user you now need to predict
and choose the range for your capital you essentially rather david sorry sorry to uh interrupt you but you're
every five or six seconds you're you're you're breaking up actually there's a there's a cut off uh
yeah that was happening as well when other people speaking so it might just is it okay for everyone
else it was happening when other people were speaking for me there was a cut off every five
seconds i i it seems that it's been fixed now you you i hear it fine please resume resume yeah yeah you
can resume yeah speaking yeah yeah of course yeah so when uh concentrated liquidity came in this made
it much harder for most users because you need to now predict the range for your capital
uh not only that but you need to monitor your your position if the price moves out of the range you
selected your your position becomes idle you stop earning any fees so you now need to at that point
you need to make maybe three transactions to reactivate your position you need to remove liquidity
swap assets re-add liquidity uh so basically you know uni pilot stepped in and tried to
fix this issue here so we built a protocol which selects the optimal range for your capital
uh by backtesting multiple variables um takes away the need for the user to try and think which range
is is optimal for however long they want to provide liquidity um if your position goes out of range the
protocol automatically rebalances it back into a new suitable range and lastly it compounds the earned
fees back into active liquidity so again that increases your returns and increases the capital
efficiency so essentially uni pilot is here to just make it easier for people to provide liquidity
and it's also one key thing it does it allows more people to participate you know especially on
ethereum talking about the gas fees you know this can price out many people from the market you can't pay
thirty dollars or forty dollars to add liquidity of a hundred dollars and you can't pay fifty dollars to
rebalance that position so by using um tools such as uni pilot this allows more people to participate in
the ecosystem and lastly i'd say we've we've been we've been live on uni swap for quite a while
and we finally launched on quick swap last month i believe and we quickly launched across all their
chains so polygon zkvm and dogechain and we're glad to be here and we're glad to have you uh i think that
the the whole v3 uh shebang is going to be a lot simpler with you guys uh on the chain and uh for i know
that um when we launched the build a doge uh tool for creating meme coins uh you know that's great for
people to uh to access a no code platform to create their own tokens and create communities etc but
they are quickly uh facing one big roadblock and that's providing liquidity which is uh you know v3 v2
is pretty simple but not very uh efficient v2 and v3 is very efficient but not as simple so um
i had my my mailbox was filled with dms on how do i do this how do i provide the range how do i know
and with meme coins it's even more difficult because uh the price of uh of of these tokens can can shoot
up so quickly or drop and uh your liquidity can be out of range very very easily uh in just a few uh
minutes you're out you know having a walk with your dog you can you come back and you missed out on on
a bunch of fees uh at a high at a high peak point so uh this would be uh i think it would be great and
uh i think you guys are are thinking of adding something uh on your side uh as well if i understand
correctly
i'm hinting to the alpha here yeah so oh he's talking about alpha now okay i can i can help
that yeah so um we are in the coming days we're going to start launching farming rewards on doge chain
so this is specific to doge chain and i think the pair and i've actually we've chosen already is
going to be wrap doge and doge chain so it's that pair and we'll be providing uh farming rewards on
that pair so there'll be a quite a big marketing campaign around that great it's gonna be driving
more users to doge chain to quick swap to uni pilots um and i didn't mention quick swap much
did i i see they're listening i thought i'd add that you know quick swap is a pretty cool
innovative exchange it's got the concentrated liquidity but it's also got dynamic fees and this is
really cool because on uniswap and i think uniswap trying to fix that now but uniswap has the sort of
fragmented liquidity they have different pools different features and quick swap kind of doesn't
have that issue because it has one it has a sort of one pool approach but for each pair there's only
one pool and it has dynamic fees so that's pretty cool for liquidity
yeah that's one one big uh advantage that for for quick swap we launched that so we launched
single pool with dynamic fees uh you know uh first uh they're gonna do this with the uniswaps v4 they
still haven't even done it yet so quick swap uh launched this i don't know a year ahead uh more
than a year ahead of uh uniswap so maybe they should just fork us
yeah guys i i think um we can um we can uh yeah mubashir you have your your uh your hand up please
please feel free to speak yeah yeah so um i also happen to be one one of the core team number of
unipater and i just had this question related to um specifically to do chain team and as well as the
docent community because as you guys know that we have active liquidity management and passive and
community watch as well so uh whenever we launch on some new ecosystem we like to see the uh common
interest of the people in what type of assets they would like to provide security and and since you
know um uh bringing d5 protocols and bringing liquidity provision to do change is one of like the
academic tasks for for quick search itself and then now we are also uh here we would definitely love
to know uh the common interest of the people and what type of active boards they would like to see
in the future and what type of you know uh farms they would like to see in the future as well so
currently like we have wdh in dc farm that we will be launching in in the coming week but we would
like to see uh what is the common interest so definitely reach out to us tell us what are the interests
and maybe we can also make their own active equity goals i i think i have an answer for that i
doge chain is the is the chain of memes and dreams and as i mentioned just earlier uh we even have a
tool for creating your own meme coin uh for communities to uh to to create their own meme tokens and and
start trading with their their their tokens on the chain on quick swap uh and um in uh imminently
uh we're starting a campaign uh around the meme coin revolution on on dot chain which means that
all the meme coin uh teams will be able to compete against each other on social on socials uh going
forward and uh after uh a week of that competition we will select three of these uh tokens that will go
into the dao and uh the dao uh which is uh uh controlled by all the vdc holders on the chain
which means that dc holders that have locked their their tokens in the in the model in the voltage model
will be able to vote for these uh for these uh one of these not one but all of these three tokens
and uh the dao will invest in one of these tokens regularly for uh the course of six months uh
in relation to the amount of percentage of votes for each one so that means for example there's no
first second or third place uh in the voting but it will actually reflect what the community wants and
which token they believe in the most will get the most funding uh and uh the most investment from from
the from the dao and uh this means that uh in uh in uh really uh uh what a couple of weeks here you
will be really able to know uh what are the the pairs that uh that the community really appreciates and and
what they're looking for and what what is most likely to succeed in uh on dot chain and uh provide
good liquidity pools uh with uh with good aprs with with good uh reflections on on quick swap uh following
this uh competition and uh yeah so keep you posted i guess i i i think uh we have some community members
here as well abracadabra uh the defy addict and penny bags they can if you guys have have any uh
opinion on this you can you can add something as well otherwise we also have rock who has the best
insight because uh you know he's a co-founder of quick swap so he he's better uh suited to talk about
liquidity and lps and uh what works best okay yeah definitely i mean so v2 was great and it got a lot
of adoption because it was so easy right you could just put usdc and eth into a pool and uh leave it
there for a year and come back and get your your your fees your trading fees and your awards but v3
opened up a ton of like uh you know
optionality a ton of different things that you could do now that you couldn't do with v2 but
with v3 uh it's not passive natively if you put eth in usdc you have to choose a range say plus five
percent minus five percent from where we're at right now and then you have to uh keep your your range your
your assets within that range and if you go out of range you have to rebalance it and it could result
in like different impermanent loss either higher or lower typically um i would say higher impermanent
loss but higher fees um and so then along came different liquidity management services and software
and protocols like unipilot and gamma and arrakis and they their goal is to make it make v3 easy again like
v2 uh and you know v3 is way more efficient than v2 tremendously more efficient than v2 uh if used
properly but it's very hard to use so now you have things like unipilot which make it so it's easy to
use v3 and potentially get the efficiency of v3 but the the simplicity of v2 and uh i think that these
things are going to evolve most uh like yeah you could tell us maybe about how unipilot works but most of
these liquidity management protocols are are pretty um basic they're mostly just keeping you within
range and they're looking they do some research and they look at the old range the old data and see
like what would be a safe range and good times and bad times and everything in between and then they try
to find like a balance because the strategy in up market doesn't work in the same as in a down market
necessarily or or maybe up and down work good but neutral it doesn't work as well right because
you're maybe like looking for the the volatility affects it but um so like a lot of them are more
simple to start but i think they're getting more advanced and over time will continue to get more
advanced and we'll get to the point where like people will design the things on top of say unipilot
like they're anybody can maybe launch this and i don't think unipilot i don't i haven't heard that
you guys have this but my my imagination would tell me that eventually you'll have where people can
make strategies on top but using the unipilot protocol or dam or arrakis and then other people
could use those strategies if they if they wanted but i'm not sure what you guys know is the dex called
arrakis no arrakis is a liquidity another liquidity management protocol that's interesting that's from dune
yeah yeah yeah sorry i was gonna say we've actually been talking about we've been talking
exactly about what you said rock so we're thinking about allowing people users to create the strategies
on unipilot and then share that i just made that up right now i i just made that up i don't i don't
think or maybe maybe i'm wrong maybe i heard someone say this but i don't know it's just like that's the
logical conclusion of a lot of these things uh a lot of different things in the industry take
that approach is like first we build the the test case you know case study and then we allow other
people to build strategies on top of it yeah so uh this is one of the like most discussed idea in our
team by the way and uh uh as a liquidity manager like you have mentioned that a lot a lot of liquidity
managers are like the basic and specifically we are also like uh after launching on this one of the
key thing that the key modules that we are working on regressively is to make these strategies you know
scalable according to the market balance so the first is like in the initial versions we had we had
simple active security pools but then we realized that all right one strategy doesn't fit all definitely
and uh different people have different risk appetites so more people a lot of people like dprs and
volatility they like narrow ranges some people would like to you know provide liquidity in in wide
ranges as well the second step that we took after that is to provide three types of strategies for each
work so if you uh currently if you go see on those chain dap of unipiling you will see the balance
work and uh on on zkevm on polygon you can also see wide narrow and balance words of different pools so what
we are trying to do right now uh is to uh see each and every vault as a separate market because uh each of
these pools is uh although having you know one or two assets underlying assets as common between between
the pools but the but the correlation between the assets are different and they react differently to
to the volatility so uh the ultimate goal is not to just uh provide code apr because that is something
which attracts people our our ultimate goal is to provide reasonably good strategies which move
dynamically and we as a team we already have a prototype in research in which we uh which basically
takes the data from past and then measures it um slowly and you know at minute levels after each uh you
know day or two days and uh you're testing it and uh the ultimate goal is to is to just make these
strategies more dynamic and regarding regarding the strategy people building the strategies on top of
unipilot so yeah uh even if it's something that you might have just made up this is actually a pretty
good idea because a lot of the people who are who want to you know innovate who want to uh play with with
with the strategy um you can definitely create a market for them as well so that uh they can they
can come up on unipilot they can make their own small macro markets of strategy and the people could then
have more choices um to provide liquidity in whichever the strategy or apr suits them out yeah then because
then you become instead of becoming like the liquidity manager yourselves and the one building the strategies
you become a platform platforms are often more interesting than than being the the uh the direct
product itself but being a platform where people could build products and you could have tons of
people with different theories and investment theories and money management theories they could come
and try to build uh their own strategies and you know we don't know what's going to work right
oftentimes like what's what'll work on paper and theory doesn't work out uh in reality so if you just
let a bunch of people try a bunch of things you're gonna you're gonna find the best results and it'll
continue to evolve over time very similar to my my my biology mutation and cambrian explosion uh
uh example in the last call
nice so i wasn't in the last call but yeah the statement looks sounds super uh interesting to me
um yeah so definitely having a converting it into a market marketplace could you know open more time
and change but one thing um one thing that we are still yet to see and we are trying to you know
analyze data and trying to connect to the people we are trying to see is that how many of the of the
people uh would like to become a strategy builder like what is the market for that as well because
if you have a market if you want to create an open market for people to come and build a strategy
uh do we have such people who are interested in building strategies individually what do you guys
think about that
well i'm not sure we can ask the community that's here and uh for example i know owen uh has actively
provided liquidity on quick swap for the jira and he might have some insight on this if he's still
around to speak uh but i i i don't know personally
if uh there there might be uh some interest i know that there are some liquidity providers on uh
on quick swap that are using some of the pools but personally i'm not i couldn't ask answer this
question we could we could poll the community to to see uh to to test the temperature for example to
see what what what would be the uh the the the interest in these uh in these pools and what tokens and
uh how what strategies they would be using for example but we can we we can do a twitter poll or
uh or even uh something like like a gamified poll to to see what what the the community would uh would
be the most interested in in uh in the in this way but uh on the top of my head i i i couldn't i
wouldn't be able to answer you like this yeah having having uh ecosystem-wide you know survey would be
great and we are as a team we have an agile team of you know uh 11 people we have six engineers one
mathematics applied mathematics uh resource as well who's constantly working on the models we have
a data engineer and if you if you see we also had one guy in this in this call who was for the job
who was the y combinator finalist in his past experience he also joined us he had 10 years of
experience in finance as well so uh this is something that we as a team really appreciate to you know
open the open up the ideas to the people and and we are uh absolutely open towards uh uh the builders
specifically towards people who want to innovate with us and you know uh having a survey would definitely
be great
cool well glad you guys are here building on dose chain and uh gonna make it
so people can uh supply liquidity to uh quick swap and are you going to be i don't i guess i don't
think there's any other v3s on dose chain it's mostly other other decks or v2 so i think it's just
quick swap that you guys are on i'm assuming yeah so we we just launched on quick seven
crystal is the only uh aim and text right now in the channel as far as i know and we also we are also
the only active security manager uh looking forward definitely looking forward to expanding in this
industry cool well we've got a lot of listeners on today so i don't know if it was you or inverse
uh or someone boosting the algo here but uh good to see we've got a nice turnout today maybe people
just wanted to hear more about regulations from the polygon spaces yeah we can we can resume that
discussion as well because uh i don't think we covered uh actually what what i was uh my my main
point was that yeah about centralized exchanges that way way titled the the spaces like they that
if they're doomed well to be honest i don't think they're doomed everywhere but they might be in the usa and
what does this mean that uh it means that there will be a lot less on and off ramps for people on
centralized exchanges that means that they will not be able to trade as as easily as they they would
just you know just like buying a few uh usdt and uh trading a few coins here and there it will be
uh if the regulation continues as it is by by sheer enforcement it will be become much more challenging but
for me what does that mean uh it means that decentralized exchanges are going to flourish and we've
seen in the last uh you know few weeks that volume on dexes has absolutely skyrocketed on both quick swap
uniswap the major pancake swap if if you just open the the dex charts on coin market cap you will see a
huge spike from from a couple of weeks ago uh and the volumes are there showing that people are actually
migrating from centralized exchanges onto decentralized exchanges and uh i think john was saying uh earlier
would it be bad if uh centralized exchanges actually fail completely uh because that's not why we're here
for yeah they're great on ramp off ramp they're great for trading and speculating but that's not crypto
that's not really the the what our real ethos that of decentralization that's why they're called
centralized exchanges after all having control yeah uh well we we we are continuously improving the
infrastructure on dexes like the v3 uh v4 even on uniswap now uh like uni pilots uh liquidity management
tools etc so while we still wait uh we we still got a lot of work to do on in that field to be as
user-friendly as centralized exchanges you know you just click a couple of buttons and it's it's done
uh the onboarding could could use a little bit of uh of help for for users but the the ultimately
it's where it should go uh it's where the mainstream user should be able to go it's defy is the word
defy is the future and that's where the people need need to uh to slowly translate to instead of
centralized exchanges totally agree centralized exchanges are really just supposed to be
like temporary on ramps you know and and off ramps i mean that's that's really what they should be
before there they should you should not be holding your funds there you should not be doing all your
trading there it's it's not safe we've seen from mount gox to all the different hacks of exchanges
or commingling of funds of decentralized exchanges the great thing about decentralized exchanges is they
never hold custody of your funds right quick swap we never touch your funds we never hold your
funds your funds always stay in your wallet until the moment uh you transact with with uh you know
the counterparty which is the pool which is consists of you know thousands or millions hundreds of
thousands of other people uh fun fact in in uh usdc eth on quick swap on polygon pos are which is our
largest pool uh there's 250 000 liquidity providers so when you make a trade uh on on quick swap on on
polygon pos you're actually your counterparty is 250 000 people you don't need to know who they are
not one single person or a single entity like finance or coinbase or whatever and uh we've seen
enough uh even lately there was one of uh one of these centralized exchanges that that went bust and
from the day they had like one day uh of uh heads up for people to uh one or two days for people to uh
to withdraw their funds and uh then then then they just went black black it they went dark and nobody
could do anything and uh i know dot chain was listed there because people were were complaining in the
chat but there's nothing we can do you know uh these people hold the the your funds uh if they they pull
the plug they pull the plug even you know even if the the decentralized exchanges even if the front end
fails the smart contract remains on the platform on the on the blockchain it remains accessible you
can still pull out your liquidity eventually even if the front i mean it can be it can be sometimes
tedious if it happens uh it was a scenario essentially no but there's you still remain in control of your
funds in in any in any way the the the funds are yours nobody is controlling them nobody is saying you
you cannot withdraw your funds because uh today you withdrew five bitcoin and you cannot withdraw
anymore uh or you didn't provide your uh i don't know your electrical bill to us uh last week and so
we're freezing your account etc etc or or you you protested uh covet so we're going to freeze your
account that happened in multiple countries around the world and not just communist countries that
happened in china hong kong and it also happened in canada they froze people's bank accounts and paypals
and things because they uh they were protesting so i had the trucker thing yeah right you're right
and the truckers ended up taking a lot of donations in bitcoin which is really cool millions of dollars in
bitcoin yeah so like at the end of the day i think even if the regulators try to crush centralized
exchanges i mean they're just going to push everything to more decentralization so you know
this industry interestingly is like uh this is the worst possible comparison uh like like visually but
uh it's like uh cockroaches you if you try to crush one cockroach there's just going to be a million
spring up and you know the crypto industry is built to be resistant to these kind of attacks and i'm not
saying cockroaches is a bad you know kind of visual and it makes you think oh bad people or something
it's not it's people who just want freedom who just want the right to transact and don't want you know
governments to control or steal their money i mean you know there's bad stuff that happens in bad
countries or what i would argue are bad countries i mean i would argue i i would argue the chinese
government personally just my personal opinion here cockroaches are an important part of our ecosystem
they would have survived this long without uh you know they weren't anyway sorry yeah um like i i
think communism is in general just bad i'll just come out and say that but uh the crazy thing is it's not
just communist countries that are you know taking your money the united states uh you know confiscated
gold everyone's gold uh you know almost 100 years ago so uh we have our own problems here in the united
states and and every country does and you know i i look at crypto as freedom money you know bitcoin
d5 this is this is pure you know freedom financial freedom that no one could come and encroach on you
take your take your land take your money take your hard-earned assets uh if they want to take it from
you you have to agree to it they can't just you know take it memorize your seed phrase and burn it
what's the issues that uh like your example related to the cockpit is like it's it's fine and yes of
course uh the adoption and and the usability of scriptures bringing freedom to the people
is important but on the on the other side its own existence by the way do you have any other mic man
your mic is really bad yeah yeah i don't i don't have any other mic but yeah so one one thing that that
is uh in itself a danger to cryptocurrency ecosystem is that the number of cryptocurrencies has been
launched up till now i was just checking and above 25 000 cryptocurrencies are there and that basically
means is that these 25 000 crypto tokens and currencies have some sort of mini markets and communities
who are believing in that now the problem is that with the number and frequency of building these
cryptocurrencies the quality of uh you know uh transparency assurance to the people money goes
down and if you look from the lens of of of the regulators they see this as one of the biggest
reason to crack down on on the major cryptocurrencies like bitcoin or or ethereum mathematics this whole
existence of of the freedom to make any cryptocurrency around your community is also one of the bane of the existence
i agree completely that's why what what we uh propone on the chain that anybody is should be able to make
their own uh cryptocurrency on on doge chain and uh even use a no code uh interface for it we get those
contracts verified once a week by by the dev team because the the no code interface is uh is not modifiable the
smart contract so it it cannot be modified to to create drugs or uh you know uh honey pots or anything
like that so anything that's created with build a doge is uh 100 uh well it's never 100 safe nothing is 100
safe but it's it's trusted because it it it it comes from uh from uh our own dev team and uh the contracts
are verified once a week so anybody that wants to create a meme coin and uh around their community is
or or even not not only a meme coin uh a token for their uh for their project if you're building a
dap or or a dow or anything like that uh we have uh we we uh we have the the platform for it and we we
provide it so that users can create their own uh own tokens and uh so that they can uh if they have
liquidity so they can provide liquidity to exchanges like quick swap and get it trading as soon as
possible like in uh uh when i when i first tried to build a doge i was creating a tutorial i created a
token and uh provided liquidity on quick swap in less than 15 minutes from start to finish so it's it's
really not complicated it's it's uh accessible to everybody and uh i'm uh although i have uh an it
background i have a major in it but uh in computer sciences i haven't coded in like 20 years so
uh if you told me to to create a smart contract for a token even if i had to copy it i wouldn't be
able to because i'm really not up to date with anything of with the with the with solidity or any vm
language that that's that's used uh in blockchain to be honest but uh with build a doge i was able to
do it in 15 minutes so uh if you if you're looking for something easy to do uh to to make your coin
yeah you should you should try that out hey by the way i noticed we have uh in the audience uh
doge astronauts which i've been seeing around and i looked at some of their art it's pretty cool
i don't know much about them i think they were i think i heard they were one of the first projects
to use mint pad but yeah really cool art uh if you guys want to come up and speak we'd love to hear
from you have we ever had them speak i don't think i i don't think we have i'm not sure let
let me invite him let me dm him as well i already invited him he's up on the speaker hey what's up
doge astronaut hey what's going on guys thanks for having me up here hello hello yeah all right so
welcome yeah tell us about doge astronauts man you got some pretty cool art there that's
what is that is that ai generated or what is it's like a combination of ai photoshop etc
so it did take some time to create photoshopping and different elements um but yeah we're doge
astronauts we have our actually i'm going to pause you can we look at your website or something where
can we find these while while while you're talking so everyone can take a look should we look on
are you on mantra or where where can we find you i'm going to share the the the uh their tweet with
the with the links uh in the meantime i yeah so we're on we're the first project to use mint pad
on doge chain um we had some issues with mantra not be able to list yet but we're working on um
um a way to make something so mint pad is uh gosh i apologize guys i don't know
for it mainly nfts then that's correct yeah and uh so mint pad is the
doge found the doge found too so can you hear me yeah yeah i can hear you but
so we do token is it just nfts or is it tokens and nfts just nfts got it okay cool yeah so we uh
it's best if you just look on my twitter um but i can also put the website in unless ivan said he was
going to grab it i'll grab it i'm on your twitter right now there are examples uh telegram yep if
you scroll down you can see examples of uh some of the nfts that are going to be minted next to the
next 10. so you guys have a token too it looks like from your twitter yep so we uh first launched
for 420 nfts with the first collection which is just called doge doge astronauts and then we started
a new one um radioactive doge astronauts so we're sort of creating a family of nfts and we are going
to have a new one coming out in the next month or so so something to look forward are the 420 are
they each unique yes they're all unique so right now there's 840 in total
yeah we're working with mint pad uh in the background to fix some of the the issues that
they're having uh there's some incompatibility with mint pad and mantra on how they they uh handle
data for nfts for listings so uh yeah they're working on that so they can they can uh finally so
the doge doge astronauts can can be listed on mantra i think they can be listed but we cannot see the
the the art which is uh pretty much unfortunate so that's that's there's a uh an issue with the
smart contracts there but i think they're working on this uh i uh pinged them yesterday i think and uh
they said they were uh pretty busy last week but they're they're taking this uh in in hand uh
uh like imminently so uh i'll keep you guys posted as uh as on where they stand with this
well i just joined um i think i'm not muted let me um yeah i just joined your guys's telegram so
checking you guys out uh yeah if you're in the audience and you're interested looks like a pretty
cool collection i like that it has a small amount i guess you commit more collections but
um small amount to start i guess is how you could look at it yeah that's um and different collections
that's that's cool yep and then we just launched a token two days ago and uh it's going really well
uh we have a buyback and burn coming up on monday so something for people to look forward to
and what is the token for so we're going to have utility for the nfts which i i'm not going to go into
detail yet but that's coming okay what's the floor price on these uh these these astronauts
so we started in three different phases because that's the nice thing about mint pad
you can have phases and the first one which is one doge just to get the word out get people in
and then we had 25 doge mints for the first first the second 100 and then the rest are 100 doge each
and since there's so few uh that's why the price is going up and so the you they already minted out
no we're at uh 202 right now and if you actually meant a doge after the first collection or the second
collection the first collection so this here's the caveat so with the second collection when you
met in phase three of the first collection you get an airdrop of a radioactive doge astronaut so you
pretty much get two for the price of one so for a hundred for you said a hundred doge so that's like
six bucks yep uh you get uh an at one of the astronauts and a radioactive yeah correct
that's cool man uh if if i have some time after this i'm busy today but i'm gonna try to maybe i'll
do it on this call but uh yeah i might i might pick up some man these are pretty cool and then i have
just one more thing um so any owner of the original doge astronauts are now now have an entry into winning
from a pool of 27 000 doge uh 69 different types of prizes different amounts of doge you can check
that out on my twitter if you want to see what those prizes uh amount to wait how is that that's
like more money that you're giving away more money than you're selling the whole collection for yeah
am i yeah my mouth off community through prizes wow man that's really cool yeah that's awesome
what's your history in the in the industry uh anything that we can look at to know that we can
trust you you're not going to rug us or scam us or anything i mean you use mint pads so i'm
hoping that that made these safe yep and i use my contract so it's pretty safe um as far as my
history all right why are you doing this for basically free because i just wanted like i had
success early on in crypto well not really early on a couple years ago i was actually uh interacting
with elon musk uh twice in public um he's coming out of a courthouse in wilmington delaware
and uh i had him say a phrase and if you actually look at the video on my twitter it says daddy doge
to mars um but you see that picture of him saluting looking up in a suit on a lot of articles and he's
actually looking at me when he said that so i made a token pump but anyway that's where my fame comes
from nice man well very cool man well we're glad to have you here uh how'd you uh what made you
decide to come and launch it on dose chain what's your history with dose change um i bought dose chain
pretty much the first week it came out i wrote it down and i didn't sell it all held to the bottom
and then bought some more and then it ripped well what did you get what did you get it at did you get
it around launch price or did you get it i got it halfway down about like 20 and then i bought more
at like 10 and then i got and then i bought the bottom and then you guys announced the burn and
i've been in ever since i've been just like the whole community at like what you guys are doing so
that's pretty much why i'm building here i just think it's fun i like the people in the community
hold on if there's only so you're telling me you could buy half of the collection for 1200
it might is my math off here my mental math here
so like the you said there's 200 ish left and uh there's six dollars a piece so 1200 you could buy
like half the collection yep but like you only have one entry to win like you have uh like i put it on a
randomized wheel and then i'm gonna randomize it and then once you win you're removed from the wheel
so you win i don't think i don't think rock is is looking to win uh to win the the the prize he's
he's looking to mint out your collection oh yeah you look at doge chain things aren't that expensive so you
got to compete with prices you know yeah that's cool man that's really cool i like this let's look
more into this you should uh try to campaign to get uh the dow to invest in in these i i don't by the
way guys look i'm just looking at these now i saw him the other day i was looking at him a little i
don't know anything about this team about this guy but if he's telling the truth about these things
this is a cool story and it's a cool collection so well two two things two things that that uh working
in their favor is that first it's great the nfts are created with minpad and the token is created
with billy doge so there's uh two like fail safes uh in that regard
yeah definitely and our liquidity is locked um wallets are locked pretty secure
here and uh yeah i have nothing to hide sweet pretty i would i would definitely support the
dow investing in uh in these a little bit i know i shouldn't say definitely i need to look into you
guys more but uh if what you're saying is true and you're doing this and and not really making much
money off of it and it's cool art and it's doge it's doge art i like it man it's it's pretty cool um
it's worth looking into more so i'll definitely look into you guys awesome thank you i i i've been uh
let's make sure we look look into these guys and um do some due diligence and and uh yeah when when we
start doing these the shark tank stuff you guys should definitely try to get uh get involved in
campaign to get the dow to invest in you guys awesome as should anyone any other projects by the way
unipilot everyone should yeah because that's the point of it is that the community decides where to
invest the dow's money
because uh it's uh currently it will be uh for meme coins only but that will expand uh on nfts on uh
uh different infrastructural projects in the future etc so uh yeah the dow is is there to uh
to to help the the ecosystem grow and uh to help these projects uh get their foot in in the in the
ecosystem and get uh you know exposure to the entire community plus uh get some funding from the dow
which uh the vdc holders are in control of so yeah the dow as i think right now it's something
like uh 30 million uh dollars of tokens so it's a lot of money i'm not saying that that's all going
to get invested obviously the dow wants to be responsible and we're in a bear market i don't
i don't recommend the community votes to start spending millions of dollars of the dow but
i think you know the community i think should spend some some money maybe thousands tens of thousands
uh on on or even hundreds of thousands on if the projects are really good uh you know and to like
uh try to uh entice projects to come launch more projects to come launch on dose chain and more nfts
and meme coins etc i think the dow should be spending some of its funding so i i would encourage uh the
community to think about this kind of stuff but yeah um like if the dow could mint out your whole
collection for 1200 it doesn't sound like a bad idea if the community wanted to vote on that but
this is up to the community so guys do your due diligence on on this and all of the projects but
yeah we we're activating the dow very very soon guys so the first campaign i've been when is the
first campaign starting uh imminently like uh right after the weekend uh just uh polishing off some some
of uh of the details uh i'll keep you posted in dms about it i was not sure about uh one one particular
detail and uh but i will keep you posted by the way check check your dms because i have uh i have
something important there for you as well everybody in the community keep an eye then on the twitter and
stuff it looks like we'll have an information on the first dow uh investment round uh soon and uh
from my understanding yeah it's just gonna be meme coins to start the first round and then there'll
be other rounds maybe nft rounds and maybe just general rounds maybe you know loyal shib projects
that have been on the chain for a while maybe new shibs uh there will be different categories that we'll
be able to decide on and uh and invest in different projects to to help fuel the the the chain i think
this will be a huge uplift for the chain for the the on-chain stuff especially during the bear market
yeah penny you have your uh hand up man yeah quick question will this uh will the dow program replace
the grant program i think um i think there'll still be a place for grants um but i think that uh
the majority of funding should probably start coming from the dow uh but that's nothing set in stone
but i think i think i think it's better for uh the dow to invest in projects than give them grants i
think grants are more of a handout i think it's cooler for the dow to invest so that the the people
of doge chain or the the shibs of doge chain get something back if if the project does well you know
they have a vested interest in it yeah and it's got a it's got a longer time frame too and uh roadmap and
and everything that comes with it too so a little bit more security for those in the community that
are investing in these projects yeah guys i'm so pissed off right now i got a fish that i gotta catch
in my aquarium uh who's eating i gotta send pictures of my aquarium in the chat but uh i've got a almost 400
gallon uh aquarium it's like the size of a like a small room um but uh i got this this rogue fish
who's been eating my coral man i'm so pissed he's eating like some of these coral are like you know
hundreds of dollars thousands of dollars worth of coral and this guy is just eating my coral he's not
supposed to eat coral there but these i i looked it up in this particular japanese uh it's called uh
uh it's called a a velvet velvet damsel i believe uh it's a japanese fish and it's uh
once in a while they get a little taste for coral and they start eating the coral man i'm
pissed off right is it one of those uh those japanese fighter fish or you know the ones with
the tail no it's it's if you if you look it up it's i think it's a velvet uh damsel it's got these
really cool neon blue stripes on it's so cool man yeah i'm looking at it right now but when i
looks really cool when i catch him i'm gonna fry his ass up i'm just kidding um no i'm gonna i'm
gonna put him down below in a in a prison tank basically and give him away but uh yeah really
bummer because it's such a beautiful fish but i caught him eating some coral the other day and uh
i've been trying to catch him actually for the last like four or five days but i've been slowly what
i do is i put food in the net and then i feed them from the net and get them to trust the net and
then eventually once he swims into the net i'll pull him out but uh for five days he's been a he
seems smart he seems like he knows what i'm up to here so he does he goes near the net but he won't
go into it but um i gotta catch this guy i had there was two that were eating the coral i caught i saw
them both and they were they were both sitting there eating somebody somebody posted rick from
from uh uh the walking dead with with an aquarium behind him saying coral in the chat in telegram
you should check that gif out man i'm dying i'm a i'm a nerd i'm a i'm a fish person we we gotta have a
live stream uh i've had it i like uh actually i had my old if you look at my mark cuban interview
i had my old aquarium that was just a freshwater aquarium that was like a 75 gallon aquarium
and that one was pretty big i bought i actually bought this uh it's not technically a shark but it
looks like a shark and i bought that this shark right before i went on on on on live with uh mark cuban
so i'd have a little shark swimming behind me because he does the shark tank stuff which is what
our our shark tank dow is inspired by by the way um but now since then yeah this tank is like massive
compared to that tank this this tank is ridiculous it's uh it is uh there's i don't know i must have
20 if you looked underneath it it's like an entire like uh electrical room underneath the tank that
operates all the different you know because i have two heaters and multiple pumps and
multiple um things that move the water to keep oxygen in the water and keep it
heated and the lighting alone is i mean it's like the light of god above the tank uh i mean the lighting
alone was like five thousand dollars um so yeah it's a it's a fun tank it's cool i don't spend a lot
of money on stuff i've talked to you guys before about like being frugal and not wasting money but
you know i've done okay in life now and uh this is like my one little hobby that i do spend a little
bit of money on but other than that um i live a pretty frugal life do you find that it helps like
it's almost like it acts as a kind of a therapy uh thing for you oh man yeah so much so much and
it's right behind me uh like my desk it's behind my desk so if i do live you know video calls with
people and stuff it's behind me you'll be able to see it but i uh yeah i this is all i do i just work
all day uh work on work on crypto and stuff and uh and just like play with my fish and it's i mean it's
cool because i was i went to school for biology so you know i i did you know biochemistry and uh
i have published genetics research and i was doing genetic engineering stuff and like a lot of ocean
stuff uh so i love this stuff so now i'm not working in that field anymore uh i was supposed
to be a doctor but decided to focus full-time on crypto and uh so this is my way of still being into
biology uh i i i do absolutely love biology i was supposed to be colder yes
it's fun i don't recommend anyone gets a saltwater aquarium though start with fresh water for a long
time until you because like i i didn't know also how much money this this tank would cost it's it's
really like if you start getting into coral it just gets really i mean it's crazy it's not it's not
even that the coral themselves are that expensive it's the the life support needed and uh the
chemistry needed and and all this other stuff needed the corals themselves you can buy a small
really really cool like rare corals for like anywhere between 20 to 50 dollars and it's very
small it's like the size of a dime but that thing can grow into like you know a huge thing over over
you know a five-year period so uh you you kind of get to invest in these coral you buy a little
thirty dollar fifty dollar hundred dollar piece and it can grow into a multiple thousand can you
sell them afterwards yeah absolutely yeah and you could you can like there a lot of them are so simple
too that it when it grows like i've got i'll send some pictures uh you like break off break off
you literally can just break off a piece and it'll grow into a whole new coral yeah coral tycoon there you
you go man i'm gonna post that i'll i'll i'll send some pictures in the group right now i'm gonna
post a really cool youtube video about a guy from toronto who uh he basically he grows fish as a side
hustle but he also does it for therapy purposes uh and he he generally works in the entertainment industry
doing movie sets and stuff and uh yeah it's it's similar to what you're saying and the guy's doing pretty
pretty well for himself just uh you know on the front of not only just helping helping him uh
with therapy but also making making some good money at it too it's definitely therapeutic man it's cool
i've i've given a lot of coral away too i uh there's a last year i went to reef a palooza yeah that shows
how nerdy i am uh it was uh like a coral and an aquarium uh trade show conference type thing so i had uh
some of my coral i'll send a picture of this one called a kenya tree uh but it grows really fast
and so i i i took a bunch of the um the little frag frag we call them frags little fragments of
of the coral and i gave them away to kids at uh reef a palooza so when they were fat whenever there
were families and they brought their kids to come look at all the fish and stuff i'd give the little
kids like a free little coral they could take home and grow so it's cool i'm not trying to make any money
on it but i'll just give them away if i if they grow if i get a lot of extras of them it's fun
all right guys um we've been on for two hours i've been on for five hours i walked a half marathon
um anyone have anything else they want to talk about um check out doge astronauts check out unipilot
on quick swap uh do we want you guys let's let's take some questions from uh yeah the community and
mubashir mubashir has uh his hands up uh by the way we have a bunch of listeners so uh we can we can
hold on uh for like uh another 15 minutes but yeah yeah let's take some questions from the community
guys if you have anything to ask just uh request we'll bring anyone and uh we'll bring you up and
uh yeah mubashir go on yeah so i i have a question to rock related to uh the dao uh investments that
we mentioned uh wanted to know uh about like is it sort of like is it different than how you guys
invest in the in the products with like liquidity mining funds or is it like a separate what what
sort of uh investment sure sure so i'll i'll i'll go through this by the way i don't know what the
hell's going on but we have almost 500 people listening did did we like hit some algorithm or
something here uh probably uh or what something something happened it's because of my sexy voice
i think it's it must be i think so
dude inverse are you the sound effect guy that came on the all roads lead to polygon once is that
you dude yeah that's that's been me this whole time mate bro you need to come on i've been trying
to remember who that was recently we need you on man start coming more often yeah man i got you
i got you seriously come to the auto polygon in this more often man we'll we'll give some inverse
shout outs and some nfts and some nfts cool um okay so yeah let's get some more speakers up
while we're waiting guys request to speak anyone wants to come up talk say hi just wave um or if
you want to ask any questions or you have any recommendations or you want to talk about the
industry it's a nice day by the way i don't know if anybody has noticed if you're if you're not
checking the charts constantly like most of us are in this industry uh today's a nice green day in
the industry bitcoin 26 400 beautiful to see a little bounce after this regulatory scare maybe the
industry is shaking it off maybe it's a dead cat bounce who knows uh stuff's looking good today but
anyways let's get some people up to speak i'm gonna do some shout outs really quick uh hey rock let's uh
you were going to answer uh mubashir's question about the dow and uh how yeah i got distracted
there yeah um the add kicking in uh so okay so the way it'll work um is and we i think we kind of it
sounded like you were explaining it a little before i came on i'm but basically we'll do a social campaign
to start where people will basically campaign for their projects and for their you know communities and
uh like if you're a if you're someone who likes a certain project then you'll go on twitter you'll
support you'll tweet about it you'll retweet about it you'll comment your like what you'll comment what
all that whatever you you'll you'll try i don't know what the actual exactly the parameters will be
but the projects get them that get the most social interactions which will um you know also help
the doge chain twitter grow and get interactions itself and so it's a two-fold nice little fun thing um and the
projects can get visibility in the ecosystem and other people could be looking for like oh what are
the interesting projects to invest in or whatever so whatever projects get highest up on the social
campaign will then go to a vote uh in doge grass which is our voting platform uh where people have
to have to have their dedc which is their locked doge their stakes doge uh or uh dose chains are dc
their stakes dc uh will be able to vote and then let's say uh if three or five or ten projects make
it to that voting round then they'll i believe the way it's going to work uh is that whichever projects
get the most votes they'll get a proportional amount of a a prize pool of a of an investment pool so
like let's say the investment pool is 10 000 or 20 000 or whatever it is um then if let's say there's
10 projects and they each get 10 of the vote then they'll each get whatever one thousand dollars if
one project gets 60 of the vote it might get six thousand dollars or whatever it is and so uh we'll
be doing multiple rounds of this yeah go ahead there's a there's a there's a reason for this why we're
doing this we actually came up with this idea on uh i think on the last or the spaces before that
because we were wondering if we're going we were going with uh like uh a weighted reward like first
place this much second place that much third place that much but actually uh since socials can be easily
gamed uh you can get into the dow but once you're in the dow there's no gaming the system because the
vdc holders are those that that are actually voting so your project needs to actually be solid to get
votes from uh from uh the the the ecosystem uh participants so once you're in the in the dow vote
that's where you will see uh what happens actually with your project if zero people vote for uh or one
percent only vote for for for that project you're not going to get much uh uh further than than you were
before because uh you cannot game that that portion if you can gain twitter you cannot game the vdc
holders you can you can try it but you will the best thing to to game them is to actually provide a
solid project and to provide something that that actually provides promise in the future so that
they they actually uh decide that the dow should invest in that project definitely appreciate that
thought because that was like the second question of mine like how how you guys would be avoiding the
gaming situation on on the twitter and and the argument but yeah that's that's a true solution
to that so yeah basically if people do try to game it by just buying lights and stuff um i mean for one
that stuff is pretty obvious if you just look at it uh but it's going to become really obvious if you try
to cheat and then it goes and then you do get into the voting round and you get no votes it's going to be
obvious that you cheated yeah because uh nobody that the the the vdc holders that they're actually
that are actually looking at the ecosystem and know that what's happening they're going to vote
for projects that are they understand that they see that they're powerful they see some potential in
it and if you just game the socials it will it will lead you nowhere so that's why there's the second
layer of the dow which which will will prevent that that gaming uh gaming the system uh narrative
perfect so yeah defy kun you have a you have a question man not really well yeah i have a question
but also an announcement so uh we at the drug huskies we are we are already we had our successful
migration of our uh coin contracts and uh this weekend there is uh the nft migration that's happening
so for that i just want to ask everyone to list their drug huskies nfts from mantra and oasis
that's all i have wanted to say yeah they you mean delete them dealers yeah dealers sorry okay okay
yeah that's a good thing i will uh let's share that uh shoot me uh in in dms the the announcement
from your uh from uh from your twitter so i don't have to look for it for hours and and i'll retweet it
from the dc uh main handle so that people are aware everybody can see that uh and uh it it goes uh
forward to everybody that because if you're migrating it's it's better that everybody has exposure to to
this announcement yeah speaking of um nfts guys and thanks thanks uh kun and uh got to speak with
you on the recent ambassador call and oh yeah shout out to all the ambassadors the the the shibs um
that are helping represent the chain and help people learn about doge and doge chain uh shout
out to all the ambassadors out there uh it was great speaking with you guys we had a huge turnout i
don't know how many but it was like 20 or 15 20 and ambassadors showed up to that call the other day
we we spoke for a while that was really fun so yeah thanks kun and and others who are uh who are uh
ambassadors supporting i have a question by the way yeah yeah i'm thinking making thinking of making a game
on dot chain that takes advantage of economics such as buying selling leasing and renting in game stuff
etc inspired by the place project back in the day that you can all right
you can you can buy pixels and sell pixels lease them rent them and make money on in the game
the real i'm familiar with that game so are what are you saying pixels are you saying like uh of one art
piece or i've seen stuff like that what are you talking about um actually you can if you buy early
it the place is yours you can buy a region
in the canvas yeah like like decentraland uh sandbox etc so uh yeah you uh like digital land
but real estate yes what yes that would be sick i would love to see that on dose chain
i wonder how hard that is to do what about just forking decentraland is that is it all open source
it would be awesome dude that would be so awesome i would love to see that by the way inverse
is here with us uh inverse can maybe help a little bit with this they don't have land but they have
uh metaverses where we can meet and do fun stuff inside of where nfts as uh as wearables etc
collectibles they have all that good good stuff yeah when when inverse dc
well that's a great question i think we have avoided uh trying to add a base layer
protocol to inverse simply because we we know that the future is multi-chain and we wanted to prepare
for that as much as possible um but we know that while we are still uncovering like the full potential
of what a web 3 events platform looks like we know that land is in you know land nfts uh you know
being able to tip creators i mean just being a creator and being able to build in game engines
like unity or unreal right there's there's a nice i think there's going to be personally in my view i
think there's gonna be a nice combination of something within that that is going to enable creators to
not only uh be able to create more gamification with the kinds of you know uh i guess projects
that they want to launch any dApps that they might create or maybe their own token that they want to
launch we wanted to fully prepare uh to allow creators to have you know kind of control over
what that looks like um so you know really at this stage we are open to building on practically with
any protocol in mind but we wanted to do it in a way where there was actual case study that you
could follow like what is really working for these communities what isn't working how can we
evaluate that so we can move rapidly with minimum effort but make the biggest impact so we've we've
been doing this for a little while we initially started out as something purely you know as a web 2
model but using game technology as the tech stack on the back end for voice comms you know the
game server side for a multiplayer component but really with business use cases in mind
so instead of just going in to purchase land that no one's going to use you know or may or may not
use depending on you know the size of the community that's participating we also didn't want to hurt
those communities that can scale because server costs telecommunication costs all those things are
real expenses for any game multiplayer game experience um but with business use case in mind it needed to
be financialized there needs to be some kind of incentive for the end user to want to support each of the
the community builders a world designer an event host uh an art gallery or you're simply just getting
into a game to funnel people into a unique marketing activation but whatever it is that you can think of
we've designed tools so that people can create a 3d space and then brand it out the way that they want
but you just have access to just what the base game technology can provide we're we're very much in
conversation with folks to add that underpinning layer of web 3 technology in in a few ways um but
we want to make it feel like it's not web 3 you know that we want it to be as easy to use as going
you know on to twitter spaces uh you know with the full experience of having more autonomy over your
you know conversations as you participate in because when people think of virtual events
events the immediate well at least not maybe not everybody in this uh you know session but most
people that you ask them to go to a virtual event they will assume it's a webinar and that's not the
kind of future that we foresee for the kinds of virtual conventions that people will attend is that
you will have an avatar you will walk into a booth you will have a conversation with uh those uh
representatives from that organization you'll get exclusive access to you know maybe some merch that they
want to offer that's physical and digital and that's where the web 3 component becomes very
fascinating or maybe there's a particular influencer or creator from that community and they simply just
want to have an intimate conversation with other contributors uh to that ecosystem or just kind of
branching out to you know offer their services so we we really want to support those chains that have
kind of an existing use cases uh where you know or or maybe just missing that just that little sweet
area right they just need some additional uh functionality or some additional utility where
gamification using voice video and um you know more business use case model that can be layered in
to just help amplify some of these projects and get them into a place that they weren't previously
and and we think that that is a multi-chain future but obviously we've got to start you know with the
chains that we think uh are going to have the most traction um right now we've currently provided the
ability for matic um so your metamask wallet you can use that uh hive is on the way wax is on the way
doge chain uh you know we're in the beginning talks for doge chain as well and you know right now we're just
we're we're going to obviously going to experiment with some ways but we know fundamentally there's
three things that we would like people to be able to do first is you know being able to offer uh nft
tickets using you know your existing nft artwork or you know maybe new artwork you want to integrate
and then being able to offer that to a community to purchase it through any of the tokens that i previously
mentioned in addition to listing 3d assets like avatars accessories pets that all have you know some kind
of tie into an existing protocol uh or you know some with some other kind of utility maybe it's tied
you know to a dow i mean there's all kinds of interesting smart contracts we can do that
especially with you know zero knowledge uh you know protocols that's going to be fascinating when
we get to experience there or experiment a little bit more there um but also the the ability for users
peer-to-peer to either trade uh exchange either list asynchronously or synchronously in some kind of
you know either a real-time auction house or an english style auction house just to encourage
more participation and you know to give people products to purchase rather than you know just getting
in there i know i know people get really excited about wanting to get those gains but you know gains are
only one aspect of blockchain and cryptocurrency there has to be products that are also exist and live
within the web 3 model for people to purchase so that these these existing protocols that we're
using can then have further utility in just day-to-day commerce and so that's where we really want to get
excited and and allow creators to have more control over that uh and that's kind of one of our biggest
differentiators from you know the sandbox and the decentralized you know the decentraland model
is that you know we we aren't just purely a game we aren't just purely a place where you can you know
purchase land those models are very much a part of that and you can go in that direction with our help
but we really wanted to create a base template for any community to get in there and start building
and branding out a event space for their initial business use cases and it just kind of goes gets
kind of crazy from there because you're really limited to your imagination and you know we we are
open to any and all ideas on how these uh tech stacks you know where you know you you have an avatar
you get to explore and you get to meet people and build relationships and what does that look like
to help bring crowdfunding to your projects in a whole new way
awesome insight guy awesome insight from inverse here he didn't answer the question if if they they
wanted to move on on a base layer on blockchain but he kind of did that they're looking to uh
integrate all of the the blockchain industry into into inverse which is which is great and uh we can
say that it worked perfectly last time because uh it was polygon plus doge chain i think those were the
two chains that we had and people uh from from all even though you know tickets were on polygon but next
time maybe we could have tickets on both chains for example and uh uh uh we we could have we could
have like uh participants from both doge chain and polygon on uh in the in the conference which was
which was a great turn on by the way it was it was awesome it was something new uh i've done live
conferences a lot of them but uh this virtual one was was pretty neat uh we could do some some neat stuff in
it and uh i i see it evolving into something really great in the future uh thanks for that by the
way inverse penny you have your hands up i just wanted to make one quick announcement it's now 4 20
p.m eastern standard time you know what that means and uh let me grab my sizzy pen man yeah yeah
gotta celebrate 4 20 soon uh everybody's phone alarms are going off yeah for sure and uh yeah
inverse uh it was awesome awesome just a really good turnout at polycon 2023 um was just uh it was an
amazing time uh i think we dropped a couple of comments on uh some of your posts uh where we tried to uh
hint at um the possibility maybe we could hold some kind of like art gallery thing for or nft based uh
event just for doge chain that would be awesome just throwing that out there yeah oh yeah anytime
anybody is able to build a world on the platform and there is no cost to do that and you can do that
today anybody who wants to dm me and set that up uh you can start to brand and build out using our editor
to put some artwork add some exhibitor booths put art inside those booths and then hyperlink those out
you can even invite people in so that they check it out there will be user caps uh on the number of
people you can bring in but once you launch a either a ticketing or nfts that you plan on selling
either on our shop or uh tickets for access on a month-to-month basis to help cover right some of
the platform costs for uh the game server and telecom that's it um we we do some revenue sharing
on that and that helps us you know pay the bills for the technology and you know we think that
that's a good model for anyone to start scaling up and have month to month you know offerings that
it's either nft art or you know very specific um you know avatars or t-shirts or pets or accessories
that then you get to decide with your you know um with your community and your attendees uh how you
want to expand that utility right either in a founder's capability or you know you
later on want to you know enable some kind of additional utility or adding additional rooms that
are gated specifically for only certain users i mean there's there's all kinds of interesting ways
that you know you can make it a little bit exciting and create a little fomo um or create a custom game
uh i mean there's all kinds of really interesting things that we want to help you build but yeah
reach out to me uh during this you know dm me right away and i can send you a link to a world that you
can start building today you can't build one on your own without my help though so you gotta dm me
and then i can create that world for you but here in the near future we plan on uh you know unlocking
that capability so that anybody can just go to the website hit you know build create a world and
everyone will be able to do that but right now we're you know we're we're trying to control
uh the scaling on that so that we we can manage expectations a little bit and make sure that the
technology is going to be stable for all the builders that's awesome man i'm so excited and
you can do that at the community level and with uh and you know with the added utility that you're
building out where we could potentially use nfts as the as the ticket or um kind of have it gated in
that way to even have like private events that would be totally awesome like we could have
like i'm just thinking of so many possibilities right now that's awesome yeah 100 yeah yeah message
me right away as soon as you can and then you know we can have a all-time chat about it and anyone else too
all right anyone else from the audience want to speak i see we have sphere king with his hand up
yeah clarification guys i told everyone uh i changed my profile picture to the polygon 2 for poly which
was the new polygon 2.0 stuff and then i said i would change it back to rdp i'm still going to guys
i changed it to my original photo for today because we had a bunch of politicians on the
all roads lead to polygon spaces and i because i may be going into politics at some point i want to
you know if we're going to have a bunch of politicians on i want to have my real photo
and not a two or a meme dog sorry so uh i will be putting my rdp back up i still love rdps
it's still my favorite collection you can see my my new rdp by the way uh i just joined with my other
account uh oh yeah there's too many people here oh it's somewhere in uh but it's a caveman it's a
cave doge so because gensler is uh is trying to put uh crypto into into to prehistoric levels so i i put
up a caveman i can't see it man is it in the audience somewhere it's a second yeah it's somewhere in the
audience but there are like 150 listeners so uh it might be somewhere in the end uh i guess
but cool whatever you'll see it eventually in twitter it's okay go ahead sphere king
yeah and then we'll call it we'll call it here pretty soon guys i got i got a ton of work to do
i agree i agree we can we can call it a day after that it's my birthday weekend if anyone's in l.a
oh shit happy birthday man uh yeah yeah thanks man uh it it's uh we're going to a jazz club if
anyone's in l.a wants to come out let me know uh i'm having my nephew over this weekend should have
forgotten yo yo can y'all hear me all right yeah i just wanted to make a quick announcement if that's
all right for uh kibbe yeah go ahead man so uh a little brief introduction i'm sphere king i'm a dc
ambassador uh also owner and creator of uh kibbe that we deployed uh off of the build of doge um i
just wanted to come up here and make an announcement that uh we got kibbe staking is live right now
uh within the first 24 hours we got over uh 50 of our supplies staked which is pretty crazy um
um so yeah i just wanted to mention that bring that up here so anybody that has any kibbe and
holding kibbe just know that there is staking right now and you can earn yourself some more kibbe
that's awesome 50 of the entire supply yeah so first 24 hours we got over i think it was like 500 and
uh don't quote me exact but it was like 500 like in 10 000 something like that kibbe steak
meow meow so uh yeah i just wanted to uh bring that up so anybody anybody that holding kibbe uh
just know that you could uh i could put down the link for the staking in the comments
and uh yeah cool cool man and you do it right and you don't fuck it up it works it just works
awesome awesome yeah one last uh one last uh mention from lubash here and we can call you today guys
throw in some more sound effects in the meantime inverse
so yeah it's before i go because two way i'm here in my country so just one announcement for the new
users who are joining in so unipilot will be launching a farm of dcw doge in the coming week
they'll be farming and people will be able to get the reward in dd token do it dragon and yeah that's
pretty much it one thing that i just remembered from from staking is that one important aspect of
being a part of unipilot ecosystems is that you also have piloted staking on infirium but one uh
interesting aspect of it is that the reward that the uh people earn from that is is you know uh 40
percent of the 10 percent share unipilot takes and that basically is generated organically from from
the fees earned by the protocol from the liquidity and the dvl so the as the dvl will rise through the
different integrations through do change extension as well um the the staking organically will also rise
and uh the reward will also be in ether so this is a sort of uh uh missed you know aspect of unipilot
that i wanted to share with the people so that everyone knows that we also have the staking system
and the rewards taken on from that thanks thanks for that and uh with that come on man where you at i
i was expecting some kind of funny all right yeah i got i got some nfts pixel frogs to give away uh i'll
check the the messages afterwards we'll contact the the people in the in the in the comments here that
we tweeted the tweet and uh we'll randomly distribute some nfts to you guys are my uh sound effects working
i don't think they're working oh yeah they're working oh i can't man i can't i can't hear them
from my end that's funny that was easy nice all right guys fun day at the day i hope other people
are actually walking on these things i hope i'm not walking by myself that that's lonely uh i walked
all right now guys you guys seriously it's like it's really like if you work in crypto like a lot of
us just sit in our houses all day i really don't leave cindy she goes out she does stuff she lives a
real life i just work from home and work on crypto and play with my fish i do go out for date night
with her on the weekends uh but i'm sitting at my desk so i try now lately i've been really uh trying
anytime i have business calls or personal calls with family or friends or whatever i try to just
go walk why not why sit down when you can go walk uh so yeah i want to encourage everyone your physical
health matters so much it's super attached to our our mental health so okay all right guys thanks so
much thank you everybody for participating and uh see you next week same time uh with another hot topic
hopefully something super interesting in the industry and uh let's see what what uh what we can
talk about next time and if you're thank you and you want to come see some jazz for my birthday i really
do welcome any any of you guys uh you guys are all family so all right see you guys dm me i'm gonna see
if i can see if i can come out so all right later guys bye guys
you've got to pump it up don't you know
you've got to pump it up don't you know
all right here you guys can come or leave stay leave but i'm gonna play a song uh
uh if you guys want to stick around you can listen to it uh and uh see you guys uh next time
have a great weekend you guys i'll i'll keep the spaces open for the song and then i'll cut it
sounds good see you guys
you know what chris cornell rest rest rest in peace but this song's too slow let me uh
you find something uh a little more exciting one of the best vocalists to ever live man
yeah really amazing guy chris cornell uh all right let's do this one let's do an old song
quality might not be so good because it's old and on twitter space but here we go
and nor is it very loud there we go you need to get one of those zappers though
Electricity is so bad, long to dry your eyes.
So tired of all the darkness in our lives, with no angry words to say.
I'm alive, get into a car and drive to the other side of the way.
It's alive, it's alive, it's alive.
It's alive, it's alive.
We are young, we get it on before our time.
Yeah, quality is super bad, I don't know what's happening here.
Let's cut the damages.
Oh, the quality is really bad?
Yeah, we can barely hear it by the way.
Okay, no worries.
I thought so, it's kind of bad.
I don't know why my computer is very quiet.
I think it's just bad quality original, it's a very old song.
Anyways, you can look at it if you want to listen to it, I linked it in Telegram.
But hey, have a great day guys.
Have a great one guys, have a great weekend.
See you, bye.
Cheers, Jackie.
Cheers, sheeps.
