You collected some waiter rewards?
JG in the house and guys.
Good morning, ride the whale.
Yeah, it's let's give it a couple of minutes.
Uh, I think Sancom might be joining as well.
Although he's off actually from work,
but he will join the Twitter spaces.
How are you guys doing market market this up a little today?
We need a little, a little like elevator music or some background music.
Can we hook up some, some tunes while we wait?
Yeah, I still haven't figured out how it works, but as soon as someone
unmutes the elevator, elevator music is gone.
So it's not really, not really designed well.
And we got Raccoon here as well.
All right, let me get you up here.
I think we can, can get started here then.
Actually, there's one more request to speak here.
P is my mic working correctly.
I can hear you really good.
Um, all right, everybody.
Uh, welcome to the white whale weekly community call.
Uh, if you're new to the community, uh, you can find all the critical
information through the link tree and our Twitter profile, and, uh, we
invite everybody to join discord and participate in a live discussion
around this week's community call.
We have a dedicated channel for that in our discord.
Um, without further ado, let's dive right into the key performance
Um, so the whale price, um, depends on the hour of the day that you're measuring.
But, uh, um, today it is at like eight cents, 8.1 cents, um, compared to 9.2
last cents last week, if you're, if you're taking or looking at the peak,
um, that is minus 12%, which is exactly also, uh, one week ago.
Um, our market capitalization though, is roughly the same.
So it sits at around 10 million right now compared to a 10.2 million last week.
Um, our social data, uh, not much happened there.
Uh, we have gained 100 followers on Twitter.
So we have 59,500, uh, this week, uh, as opposed to last week, 59,400, um,
1,370 members in telegram compared to 1,359.
And, uh, on discord, we have actually one member less 4,804 people in our discord
as opposed to last week, 4,805 members.
Um, and then to the ecosystem, uh, data, um, a total of 9,246 megaloo wallets
have been created so far.
Um, and that is compared to last week, 9,095, uh, which is a 1.7% increase.
Um, and yeah, um, before we get into the product updates, um, just, uh, just a quick,
um, yeah, ask for you guys, uh, retweet the spaces and with the hashtag
right the whale, um, so it reaches as many people of our community as
possible and it gets the word out.
Um, yeah, and that's so far to the, uh, key performance indicators.
And now we can go into our product updates.
What, why don't we start with the satellite market rewards?
Uh, I think that would be a really good, good place to start here.
So, um, yeah, Sencom, do you want to take it over, um, or feel, uh, actually
feel free to jump in anytime.
Thanks for the introduction.
Yeah, guys, it's been a long time, but it's all coming together now.
So the first value engine has started on Terra.
Um, those of you who've been active, the, the buybacks from now on will
happen every day at exactly 15 UTC.
So that was two hours and eight minutes ago.
And today was the first, so we started the engine today.
So there was the first buyback happening, I think around 70 or 80,000
whale have been distributed to bonders.
And this has been around one point something percent, you know, flat.
So if you state one or you state one whale, you got 1% more, one point
something considering an AP or the inflation of our, our chain megaloo
of around 4%, this is quite a seasonable amount.
So we are very happy, um, to see that everything has worked out well.
That there have been some very minor UI issues, but I think they've been sorted
out in the minutes after we launched this.
So I'm very excited to know, have this finally live now, and it will come
from now on every day, there will be buybacks and you will be able to claim
your fees, a couple of disclaimers here.
So the longer you bond your tokens, the higher your multiplier gets.
If you bond for half a year, your multiplier is two X for one year.
It's three X one and a half years, four X and so on and so on.
So staying ahead or staying for the longterm, um, definitely pays off.
And there's another very important feature in, in this bonding mechanism.
If you don't claim your tokens for 21 days, your unclaimed tokens will be
moved into the next epoch where everybody is able to claim them.
That way we eliminate that capital and increase higher AP or increase
the APR for active users.
So don't forget to claim your tokens at least once every three weeks.
Otherwise other people will.
So for the next step, so, you know, as you guys know, we don't only
have one satellite market, we have five right now, right now.
So we're going to continue rolling out the, the buyback mechanisms and the
value engine over, you know, on all satellite markets over the coming weeks.
So expect some more announcements there.
So much to the bonding mechanism, then Alliance, it's still working out great.
We're closing in on the quarter million Luna on Megaloo.
This, I think very, very exciting, um, very exciting development happening there.
I still, the APR seems crazy high.
I think it's last time I checked, I think it was 40 ish percent on top
of your, you know, yield of the Luna assets, which is just crazy.
Um, but still, I think we're attracting more liquidity there and
Then Maslan he's, he's in the space here.
He created a website ecosystem dot zone.
Um, you guys should check it out.
And this is a collection of everything around wide rail.
So it's not a dashboard for data, but it's a collection of everything.
You need to know where you can use the token.
For example, you can use it as collateral on cavern.
It contains, you know, all the important links for our social media.
It contains documentation, you know, important Twitter threats that explain,
you know, how does bonding work?
How does the core prints or core concepts of our product work?
They contain, you know, lists of projects who joined the right program and so on.
So basically this is the one page for everything that you need to know when
you're new here or when you just need to look something up.
So next time you introduce someone to whale, or you just want to check
something ecosystem dot zone is, is your place to be and unless Sebastian
or P you guys have something you want to say, I continue with the right program.
So, um, we also have some, um, since, since the last community call,
we, we have been taking part in, um, we have launched our AMP governance on
Miguel, that means, uh, users can now vote, um, by locking AMP whale into
our voting escrow and receive this voting power mechanism.
It's a curve style, gosh, so when you lock your funds for a long, longer period,
you will receive more voting power and you can control how the delegations
of Eris protocol are being delegated to the validators.
So you should definitely check it out.
And also, um, you can vote on proposals as well.
So as soon as governance proposals come up on Miguel chain, um, we
will also list them there.
So you can vote with your MPA token.
Is that via your website?
Yeah, it's, it's also available on the website now.
Um, so you just go to the amplifier on Miguel and then on the top, you
see governance, a governance section and you can check it out.
Well, while we're already talking about this Phillip, can you give, you
know, the listeners a quick explanation on why we need, you know, this AMP
governance, what's the purpose?
For those who are not, you know, 24 seven.
Um, so when, when using liquid stacking, you're giving away your
governance and delegation rights to the protocol, because usually when you
do delegations via normal delegations, like station, for example, you
still have the, the choice, um, which validator will receive your delegation
and, um, how, how you vote on proposals and the big issue with, uh, liquid
stacking tokens or liquid stacking providers is that a lot of power, a lot
of governance power and delegation power is in these kinds of protocols
locked in there, for example, on, on Eris protocol, we have locked 16
million whale tokens and they still need, they still own the same
governance power and there are some risks involved, um, with liquid
stacking, like for example, governance risk, um, that if you have an external
token controlling these, uh, delegations, they, they can make decisions
that are not, um, in the best interest of the, of the chain.
And what we have done is you are locking AMP whale.
And that means everyone who is voting in these kinds of governance
delegations and decisions still has a vested interest in the success of the chain.
So we are just giving back this kind of voting power, uh, back to users that want
to be involved in, in governance, and they can even leverage their own voting
power by locking the token over a longer period.
For example, if you lock it for two years, which is a very long time in
crypto, you will receive around a factor of 10 of the voting power.
So if you lock, for example, $10 in whale, you will have a lot more
influence on the system direction, um, than with using errors, then only with stacking.
Well, thank you very much.
And I think, um, you know, implementing governance mechanism or, you know, these
governance mechanisms for liquid staking tokens is, is, is very important.
And I think you're, um, you're doing pioneering efforts here in the
Cosmo space, so I'm very, very excited to have this on Megaloo and I'm very
much looking forward for future, um, releases of your product suit, um, once
our DEX is live, so thank you very much for that.
Another thing I just, I almost forgot it, but it's very important
talking about, you know, governance and decentralization is, um, our
whale friends at Kojira, they have a tool called pod for that pod.Kojira.com
I think, and you can use it to, so if you decide against, you know, liquid
staking, you can use the Kojira tool to automatically distribute your stake
for maximum decentralization.
So you can just go to the website, hit the, you know, distribute stake
button, and it automatically does its thing.
So the, your stake is distributed very broadly to a lot of mostly smaller
validators, so it distributes the stake, make sure that we don't, we're not too
top heavy and, you know, continuing this line of thought.
So they have, you know, silk notes, they're a great validator.
They have been around for since the first day and we're in good touch,
good relationship with them, but they have amassed a little bit of too much
And they have, um, yeah, graciously decided to, um, you know, raise
awareness in the community to delegate away from them.
And they are also going to raise their minimum commission until the
desired effect has been achieved.
So, um, that's just a great step.
And I know it's the best for the network.
I know it's counter the interest of silk notes.
So this is why I really need to point out how, how, um, yeah, much
I respect them for doing this.
Um, so, um, please for the health of the network, consider delegating away from them.
However, they are a great team.
So they're also represented on different chains.
So delegate to them, you know, while you're delegating away, then wail away
So that's everything on staking and governance and validators.
So before we, I give the word to, um, the raccoon, the smelly friends, I want to
give a short introduction about what the right program is and why we have it here.
So there are a lot of apps in the customer's ecosystem.
You know, there are a lot of apps on June, a lot of apps on Terra, a lot
of apps in different places.
However, if you're just on, if you have your application, your token, your
community, just on, on a single ecosystem, a single chain there, you're exposed
to a lot of risks, for example, your chain collapses, boom, your app, your
token, everything you have is dead or the ecosystem loses steam.
Let's say, you know, you're building on a layer one with bad tokenomics and
there's no, I hate to say it, but there's no shortage of it here in the
customer's ecosystem and eventually your, you know, the layer one loses steam.
Consequently, your app loses steam.
The community is driven away, which sucks because maybe your app is awesome.
But if the layer one sucks, then, you know, tough shit, you're out.
So it is in the best interest, just from a risk perspective to expand, to go
cross chain, there are new markets, new frontiers opportunities, new
communities, more liquidity.
So really it's a no brainer for applications, maybe, you know, NFT
marketplaces, maybe games, maybe define whatever to go cross chain.
So the question naturally arises, why isn't everybody doing what we're
doing because we had white whale.
We saw this over a year ago and we pioneered this, this idea of becoming
an interchain protocol, really 12 months ago, and we're live on five chains.
So why isn't everybody doing this?
And the reason is quite simple actually, because it's hard.
It's really hard to scale interchain, to go to a lot of chains, to do
the front and the indexing, you know, some chains, they have like
injective, you know, you have to do some quirks with a, with a smart
So it's really, it's really hard to scale just from, you know, the
infrastructure and community management.
Every chain has its own politics.
It's really a lot of work, but we have pioneered this and we have some
kind of a base layer like flashlines and a DEX, you know, this is some
base layer DeFi infrastructure and we think that we can help teams, may
they be small, maybe, maybe, you know, might they be big already
established or just upcoming.
We can help those teams to capture those new markets, minimize their
risk and become actually cross chain applications.
So why should, you know, teams choose the right program?
And then this question or the answer to this question really depends on what
application you have and what your specific goals are, but in just in
general, it allows you to, so we, as, you know, the Y2L team, we try to
help the teams joining the right program to get premium access to, for
example, vertical integrations into our partner projects.
Once they join the program, we will help them with all of our knowledge
that we have, you know, collected over the years from the collapse and
terror, from, from building there, from building the first interchain
protocol, and we advise on everything from, you know, public relations,
technical integrations, tokenomics, how to scale.
We share access to our public infrastructure so they don't have to
run, you know, notes for every chain they go.
We, you know, raise awareness for their project.
They allow, you know, you guys, the community to get a selection of
really, I think, high quality projects that are building with us.
So for the teams joining, they get instant access to this, you know,
extensive community and professional network that we've built over the
last, you know, months and years.
And another thing that's, you know, part of the scaling issue is, for
example, let's say you have a, yeah, let's say you have a game, a
gambling application, for example, and you want the users to play in
So in every token there is, because at the end of the day, the user
experience is much better when you can just gamble in whatever
shit con you have, then you just have, then you have to buy something
So you want to integrate your gambling application into a DEX to
provide this play with anything feature.
You do this on one chain.
Deployed application is running.
Now you go to the next chain, different DEX.
So you have to do, redo your smart contracts in certain parts.
Then you have to manage the relationship with the DEX.
Make sure there's pools open, incentives open.
Then you go to the next chain.
And again, new technical overhead due to integration, more business overhead
with managing the relationship and the pools.
And it just becomes really hard to scale because imagine you go on
10 different chains and you have to integrate with 10 different DEXs.
You can hire somebody to do this.
So for example, with white whale, you integrate our DEX ones and then it's
done because our DEX has the same interfaces on all chains.
So you can just integrate it once, do the heavy work, and then you
deploy in Chihuahua, easy, done.
You deploy on Migali, done.
And it just allows you to scale really, really easily.
And, you know, among other things, you know, this is, I think what we can
offer as white whale to projects joining the right program, and so far
we've received some very, you know, some good interest in this.
And I think this will be a cornerstone of our future growth.
So stay excited for more things coming up in the future.
So now we talked about, you know, what do projects gain from
joining the right program?
And in essence, it's scalability and becoming a cross-chain application.
But what do you guys get?
What does the whale community get?
What does the ecosystem get back from this?
And again, every project is different.
So there's not, we cannot do like hard requirements.
Like you need to airdrop this or you need to do this because that's not
going to work because every project is in a different situation.
So we just posted some guidelines on how it could look like, for
example, airdropping tokens to whale holders or creating or routing
traffic through our decks or creating protocol-owned liquidity or
sustainable liquidity model in our decks, or even more interesting using
a percentage of the revenue of the application to buy back whale and
distribute it to the bonders.
I mean, we just talked about the value engine on Terra and we could top
that up with revenue from different applications building together with
us across the interchain.
So there really, we're trying to make good deals for you guys, for the
community, but I can give you like some heart, you know, every rewrite
project will airdrop something.
But what I can promise you is that every write project will offer something
unique to the Megaloo community in exchange to what we guys, what we as a
community, but also we as developers and a core team offer to them.
So I'm really excited about the write program because I think it will help
grow our ecosystem massively.
It will be cornerstone of our liquidity and, you know, traffic on our decks.
And I think by doing this, we can really entrench our position in
the ecosystem, in the whole ecosystem, not only on one chain, but on a lot of
chains. So I'm very excited to hand over the word to the first write program.
For those of you who don't know what Raccoon is doing.
So Raccoon, they have basically two parts.
So there's the RAC developers and they have and now catch this.
They have the only gambling application in the whole Cosmos ecosystem.
I'm not aware of any, I think you guys have four or five games.
So in the whole ecosystem, out of all the 50 or 60 chains that we have, they are the
only gambling application in the ecosystem.
And they also have an NFT marketplace live on Chihuahua right now.
So I'm very excited to have you guys on board.
And yeah, happy to give the word over to you guys.
Yeah, I just want to say thanks for the introduction.
It was very clean and you also described pretty well what I was going to say
basically about the Write the Well program and how like our proposition to be part
of this program was going to be.
So I think it's a good thing that you mentioned that it's going to be
different from a team to another team.
But yeah, very excited to be the first to participate into this program.
And we always say to us, I can maybe give a bit more feedback, but like the
gambling platform that we have, which is called Raccoon Bed, it's basically
managed or owned by the Raccoon NFT holders.
So it's like we're making a deal between the platform, Dao and you guys.
So I'm very excited about this.
I'm looking forward to it.
Maybe you can explain a little bit more about what's the Raccoon ecosystem
because I just briefly mentioned NFT marketplace on Chihuahua.
You have a gaming applique or gambling platform on Chihuahua in Juneau.
Maybe you can explain a little bit more.
What's how does RAC FM play into this?
What about the RAC token?
Just do an introduction for those of you who don't, for the audience who
doesn't know what RAC is all about.
So if we start from the beginning, Raccoon Supply is just a team of two devs.
We started back in, I think it was January 2022 and we just launched
the RAC token on Juneau and I am a deep learning developer.
So our first idea was to build a DAO with NFTs that were generated
with AI, so this was the first thing we wanted to do.
And given deep learning is very close to probability and stuff like that,
we decided to just design gambling games, which is basically probability
and how can we bring this on chain and make it user friendly.
So we're still exploring what's the best way to do it.
We're still learning about it.
So yeah, there's the RAC token that was launched, which was AirDrop entirely.
Maybe like 90% was AirDrop, a part was given to the liquidity,
and then the devs only kept like maybe 8%.
So the RAC token only has like a supply of not even a million
and it's already full in circulation.
So this is the RAC token and basically the goal with this token was to give
it like a special place into the gambling application.
So when you're playing with the RAC token, basically it's going to give you
a bit more reward with the token, which is called GRAC, and the GRAC gives
you some additional features that you can have inside the RAC on that application.
So this is the special place that we gave to the RAC token.
And then down the line, I think like March, 2022, we launched the
secret NFT, the RAC on secret NFT, which formed DAO that actually like
we basically use this to create RAC on that.
So this is why RAC on that is owned by the secret NFT holders from RAC.
So it's a very nice architecture and like the goal from the start,
and a lot of people can talk about it because the goal from the start
is to remain like organic and the goal was to just, we just wanted to launch
a token and NFTs for the community.
And I don't know what we did, but it actually worked out.
So it's basically on a day-to-day basis is the community that supports us.
And you can see in here, like RAC FM, which is like a continuation or like
a branch of RAC in supply, but it's basically the community and close
friends that decided to go along and build this.
So I think so far for the past year, it's been a very big success for us.
And if we continue down the line, like in the past year, we've been able to build
five different games, maybe six games.
So you can like what we call like a roller dice or a shoulder dice.
So you basically bet what's going to be the outcome of the dice
And then you have the slots, a very basic slots.
A dungeon, which is like some sort of like a card game.
Then you just decide on your path.
And depending on how risky your path is, you're going to get some
bigger rewards, let's say.
So the idea was just to like, how can we just build custom games
That was basically the goal.
And now we have like part two of the play to earn on Shiwawa,
Well, it's not fully operational now.
And there's like maybe six days left, which you guys want to try it out.
And yeah, so this is like the last part that we did with the game.
So we have a lottery also.
So we have three games, a lottery and then display to earn, which we have
like five games and in the past like months, like we've been developing
on Shiwawa, I'm pretty sure you guys are aware of it because like
the community there is very welcoming.
So when we get there, it was very fun to develop new stuff.
So that's why we decided to launch exclusive game on Wawa.
And I think two months ago, maybe three months ago, we decided to make
a proposal to build the first NFT marketplace on Shiwawa.
And basically, in two days, we're going to release the better version.
It's already working and we're excited.
I think that I think that sums it all like down the line.
We've been helping a lot of people in like different projects.
And we've always been there for the community.
And after a year, we're still there just trying to help people
Yeah, thank you for the for the great explanation.
And I hope you guys understand why I'm so excited to, you know,
work together with the Raccoon people.
I think they have been, you know, they've been around through the bear market.
They've been building across multiple chains.
They have, you know, on their own decided to go cross chain already.
So, you know, there was already the shared vision before we put a label on it.
So, yeah, I'm really excited about that.
And I'd like to ask you guys, why did you or why did you decide
to work together with us, work to get to join the right program,
to work together with the whale community?
And what do you expect from it?
Yeah, so that's a good question, because it's maybe not everyone feels like it,
but from us and like the close friends that we have in the community.
We never actually felt that we found our own chain, let's say.
And then we've had some like issues in the past just to grow,
to go on another chain and then just to deploy our games.
Like you said it a bit earlier, it's always a bit hard to deploy a new chain
because you don't know, like, what's going to be the decks there?
How am I going to implement this and that?
And then the other thing is which we're really looking forward
to work on this, which you guys is the rack token.
Because like, as of now, the rack token is kind of stuck on Juno.
It's possible to transfer it via like ICS 20.
So it's available on osmosis and it's going to be available on Kojira.
I think in a few days they want to implement it in their bow.
So we really like we're expecting from you guys to help us
to just spread the rack token, make it available on white whale DEXs.
And then that way, when we deploy the rack on that platform
on different chains, then we're going to have the rack token.
It's going to be easier to develop stuff
because we're going to use your DEXs.
So basically what if I can sum it up,
like what we're looking into this partnership is just you guys,
your expertise that you have, like with smart contracts,
with the connections that you have, like you said a bit earlier,
it doesn't look that way.
But when you release a game, you're going to need like some RPCs
because you know, every game that we build is on chain.
So when you play on the platform, basically trades you like as a player.
So we have to query this type of information when people play with the games.
And this is something we need.
Like it's a part also of the architecture.
So I think at the end of the day, like what we're looking into
is like a bit of everything of what you guys have done in the past,
like the expertise, the connections and what you already built.
So I don't know if I sum it, I did a good summary,
but it was very related to what you said a bit earlier.
Yeah, thank you very much.
And I'm sure as we work together, there will be, you know,
new demands from you guys.
And I'm sure, or I hope we can help you scale your application
to really go cross chain and have a lift off because again,
it's the one and only gambling application in the ecosystem.
And if there's one thing Deejans like, I think it's it's gambling.
So yeah, I think this is going to blow up very soon.
And like you said, like what I can add to that is like
we feel like what the proposition like if you guys go read the medium article
that the White Well Twitter account just posted, I think an hour ago,
I think it explains pretty well what we intend to offer to
like the stakers and people that use well.
And also one thing I think it was mentioned in the medium article,
like we're currently working to to change our game contract
for to use liquid staked assets.
So I think it's going to be a very great opportunity to use,
let's say, be well and end well.
And then it's going to be used within our game.
So it's not only we're not only partnering,
doing a partnership with you guys,
but also with other people that plan for already developing on your chain.
So I think it's going to be a big win win situation.
Yeah, I fully agree with you.
And this is something I put a lot of emphasis on when
talking with other teams and building no cross chain together
with with Backbone Labs, together with Eris and and now with you guys,
is that each and every team here has its own community, its own goals.
But still, I think we can work together and integrate each other
where it makes sense and create a really, really strong
and resilient cross chain ecosystem.
And the more projects join us, the more powerful it gets.
So it's like it's like you kick a snowball down down the hill
and it grows and grows and grows.
And with every every project coming,
it becomes more interesting for the next one to come.
And again, you know, shout out to the community.
You guys, you know, way more than we do.
You know, all the places in the customs are in the customs ecosystem.
If you find a team that has ambitions to go cross chain,
or if you think, you know, they should have ambitions to go cross chain,
make, raise the awareness, make them aware.
Hey, guys, why are you why are you just on one chain?
How can I invest in you if the chain goes down and then, you know,
your token is shit, go cross chain.
So, you know, make your voice heard.
And the more projects that work together with us,
the more powerful the whole system gets.
And I think what I can add to that is like,
you know, when when you start a project and nobody knows you,
Like you get a bit shit on which which is what happened to us.
And like, like, at first, it was pretty hard.
But we were like, we're just going to keep like building what we were building.
Like, it's a proof of concept.
We're just building new stuff. It's going to break.
It's going to work. And that's it.
But like what we felt like with with well,
and when we spoke with you guys is we felt like we were going to be like
support that and it's going to be a two way situation where we can provide
something to you and you guys are providing something to us.
And this basically happened with Chihuahua chain as well,
which was a really nice partnership.
But when we launched on Juno and I don't want to throw rocks at Juno,
but we didn't like feel that way.
Like, I'm just going to say it.
That's it. But that's all we felt.
I wonder, so I'm sure not everybody has read the medium article.
Still, you know, go ahead and read it, guys.
But nevertheless, can you give us a TLDR about what you guys bring back
to the whale community or to to to the ecosystem you're stepping in?
I mean, you said utilizing liquid staking tokens, for example,
from Eris or Backbone Labs as as a reserve.
That alone is already some of those vertical integrations into our tightly
knitted group of projects that I'm talking about.
So can you talk a little bit about more about why you decide to use
liquid staking tokens from from Backbone Labs and Eris?
And what else or how else you're bringing value to
to those projects and to the whale community?
So before I jump into like what we're proposing and how we're going to use
liquid staking, so one thing that you discussed a bit earlier,
which I didn't discuss is like, as of now, when we deploy on a chain,
what we do is that you're able to use the main token to actually play the games.
And like you said, one thing that we want to make happen is
let people just play with whatever they want.
But at the end of the day, what we're going to do is just use a white
world access and then it's just going to swap it.
So it's going to be a small fee, but then it's it's it's just going to be
like some like a two way thing.
So we're helping white workers.
We trade on the decks and then it's helping us because the user
can play with any token they want.
So and where I was going with that is the other thing that we can do
with that, if we implement that, is that the like, you know, like our casino
work or a gambling application is you always need to make sure
you have enough money to just to pay out bets.
So as of now, like let's say one shiwawa and then you have some wawa tokens
and then they're just sitting in an account and they're not generating
like some yield of revenue.
So by using, let's say, be well and amp well,
we're going to be able to generate some revenues that way.
So that's one of the two things that we plan to implement.
But if we go a bit more into the details
about what we plan to offer, like the biggest thing is the like,
we're going to offer four to five percent of raccoon bet revenues to like,
basically, it's going to be a buyback in well.
So if people didn't play in well and they played like in other tokens,
then it's going to be like a buyback in well.
And then like you explained it in the media market, it's going to be either
burning or distributing them to the well stickers or liquid
liquid sticker well boundaries.
So that way, like there's always going to be a stream of revenue.
Like all we plan to do with is to make it happen every month.
So every month we're going to take this five, this four to five percent,
do a buyback in well and send them to the stickers.
And the other part that's going to be very,
like very positive for the rack token, which why,
which is why we want a special special place for this token on raccoon.
That bet is like two point five percent of the like the revenues.
We're going to use it to pretty similarly to what I just said.
We're just going to do buyback of the rack token and use it to deepen
the liquidity on white well taxes.
So that way, everyone can play with rack token on every chain.
And there's going to be liquidity.
And then the other part of of this is basically just some like one
percent to do a buyback in rack to use it as external incentive
within these liquidity providers on white well taxes.
And another one person is going to go back to the rack down.
So it's it's something pretty like detail, but like the core of it
is really like the four point five percent that goes back to all the
Well, thank you very much for the explanation.
I think we covered this partnership in a lot of lots of details.
Now I'd like to give the word to our other partners, Philip,
JG, Robo, what do you guys think about this?
Well, I'm a DJ and I love gambling games, so I think this is
fantastic. You know, I've been I'm so excited to have this group
They have so much energy and, you know, man, they've managed to
forge and it was not an easy path to go from secret to Juneau
and finally find a home in Wales.
And I think that they're going to find that their growth is going
to be rapid in a on a chain where there's welcoming and help
This there's a lot of synergy that's happening here.
It's very reminiscent of what was happening on Terra two years
ago. You know, that's what's that's the feeling that's happening
right now. Yeah, I feel just the same as JG.
It's really great to be on Mikalu and the community is very
welcome. Great work, everybody.
And yeah, we have also fun developing here and it's totally
different from the Juneau experience we had.
Yeah, I don't know what to say, man.
Like maybe this is a very good analogy for it.
So I was diversified for two days and then I was not because
RAG is just fucking killing it.
Bruce, Bruce, what comes after D in the alphabet?
A, B, C, D, what comes next?
Imagine, imagine the smell right now, man.
I've just got one question for sending the gang.
Do we have to wait 35 days for a PR request to be even
I mean, you might multiple.
Can you please explain what you're meaning by that?
Like what Robbo just said is just the proof that Robbo has a
very long memory and he has receipts.
So what he's referring to is like, I think it was at first
when we did a PR to be traded on Juneau swap with the
I think this isn't right, Robbo, but it basically took
So which is a bit shorter than that.
Let's just say it's very nice to launch a project on a
permissionless chain, right?
And we all know about liquidity and the project and
blockchain and like it kind of is needed.
And people care about you and people care about you.
Like we've been waiting dude 15 months for someone to
I mean, we approach Wawa, you know, we went over there.
We generated our own business.
This is the next evolutionary logical step in RAC's
And I kind of wait to see what what comes next.
There's no stopping anything.
What's going on now with what I see with Alliance, you
guys, bare bones, man, this is so exciting right now.
Can you tell I'm hyped or not?
Yeah, it seems like, you know, we've been teasing
this partnership, I think the last two days, but it
looks like your community has been in full support
of this judging by the price development of the
I think what was it like three or four X in a day
Yeah, I'm happy that the market agrees with our
Do you know something saying people will laugh
Tell you we've been through like trials and
tribulations that you guys wouldn't believe.
And we understood very, very, very early in the
project, how like limited cash was, especially after
things like the terror crash and stuff, right.
We realized like how like hard they were working
and like we could the community just came
together and said, you know what we need to
like alleviate as much as we can.
Bruce Mann there that's on the official account
starting an insane amount of work in the
Literally RAC FM was born when we minted out.
We actually minted the raccoon NFT out live on
a space that was like right at the beginning
of when we were doing them.
I've done them before like independently, but
this was like the first product connected one.
And ever since then, it's been like, like a
totally unofficial, right guys?
Like, this is the whole thing.
Like people contact them and they'll be
like, you need a sack robot.
And they're like, dude, come on.
Like the community has come together and said,
dude, go in the lab, develop, right.
We'll take care of everything else.
I mean, it doesn't gone wrong.
Has it gone from strength to like strength
And then what's what's crazy about that is
like it became like this happened naturally.
Like everything fell to the right places at
And just, I don't know, it's when you talk
about community, you're not sure what it
actually means, but like when you actually
live through it and you understand what's
And I feel this is what's happening with
I feel like we're just bounding with them.
And I feel like it's going to be not a
new start, but it's going to be like very
Is this rack V2 that we're witnessing right
We were speaking with the white well team
and someone dropped or they're going to
be like raccoon LFTs on white well.
You just imagine like, I think I have an
So imagine this raccoon that's going to
work every day and it has like many
minds to go and it has this little launch
box and it's little wallet, right.
And it's just going down the road and next
to the road there's a stream, a big river,
And one day while it's going down there,
it sees this whale that's swimming in the
And it gives the whale a little piece of
bread and the whale goes like, hey, you
And all of a sudden these many, many,
many, many, many miles is just a few
Dude, I've told you not to come on the
official account on mushrooms.
I've told you before for fuck's sake,
man, saying I'm really sorry.
Someone put him down as a bloody
I think, Philip, you already gave us
JG, do you have anything from the
Yeah, so there's lots of stuff.
So I'm not sure if you guys have
noticed, but TFM did a brand new
site update and the Necropolis from
Backbone Labs is now listed on TFM.
We're about to start onboarding
secondary collections on Terra.
We are actively rebuilding a whole
new front end for the Migulu launch.
We're trying to have the marketplace
So we're really pushing, and we have
already scheduled three interviews
with quite large polygon projects
who are interested in coming in to
So that's really kind of what
There are some really strong NFT
communities who understand fusing
NFTs with DeFi, and they are
interested in launching sub-
collections on Migulu to manage
gravediggers on other chains.
So this is where it starts to get
Yeah, we really, this is just
People are just starting to see
like, okay, this is possible.
It can all be routed through
This makes everything feasible.
We have all the pieces of the
We have, you know, the foundation
We can put these things together
quickly, and this is what makes
And so I'm hoping, you know,
don't quote me, maybe early mid-
June that we start to, that we're
able to actually do a first mint
And we're getting our audit back
for the gravedigger, I think,
That's also, I think, being
completed today, from what I
I'm really looking forward to,
you know, kick-starting the NFT
I think this will provide a
great, great value to the chain,
particularly because we have so
many, you know, strong and also
partly NFT-driven communities,
like the raccoons, like the
skeleton punks, like what you guys
are pulling over from other
ecosystems, which is, you know,
I'm really excited about the cool
stuff that's going to launch
on Migulu once you have your
And I think from an outsider
perspective, you know, coming to
Migulu and get integrated into
your gravediggers and earn real
I think that's a very compelling
If I were an NFT collection or a
team building NFTs, I would say,
dude, you know, write me up.
So I'm very, very excited about
It's really funny, you know,
projects and at first, like,
they're like, oh, we don't really
And then like a week later,
they're calling back like, hey,
We want to explain this to
And even though we're already
at the hour mark, I think we're
Sebastian, there have been
Yeah, I mean, first of all, I
welcome the raccoon guys,
you know, to our community,
to the program, all that stuff.
We're just, we're very excited
to have you, you know, and
couldn't be happier about it.
I think, you know, as we're
all talking here, you know,
If you take a step back and
community and partners, there's
And we're all kind of a little
bit ragtag, you know, it's
almost like we have a, we have
a little bit of an island
of misfit toys thing going on.
We've all been hurt, right?
We've all been wounded, rugs,
you know, terror collapse,
you name, rejected, right?
they're really galvanized,
come out of it the other end,
it makes you stronger and
tighter and all that stuff.
So, you know, there is this
with the projects and teams
And I think you guys, you
And I think one of you said
and, you know, kind of effortless,
And it just, it just happened.
Well, you know, that tells me
that this is where, you know,
this is where you guys belong.
And, you know, it's not us
And on the same note, right?
I think, um, lion, you know,
I think that's a similar thing,
All these, all these projects
We're very community led.
We don't have big VC backers,
Guys like, you know, we're
going to sell the big VCs,
whether it's jump or Delphi,
The big names, but we're going
to do that at 30 cents or 50
cents or a dollar, right?
After we've all gotten in and
you know what I'm saying?
And built up, um, but, but
right now, like we're, we're,
We're very community led.
Um, and that, that's part of
That's part of this whole
So, so line, line Dow, same idea.
So we just, um, we just did a
little treasury swap with them
this week, you know, and, you
know, it's basically a little
magic trick, a little financial
alchemy where poof all of a
sudden, now there's a hundred
K, um, a hundred K liquidity
pool, whale roar, um, on our,
whale, you know, and, um, you
know, I, I like these, we, we
For our wah-wah whale pool.
financially aligns us with
their, and, and wah-wah, by
the way, speaking of the, the
community theme, wah-wah, that,
that's why we get along with
project, but, um, you know, we
did this treasury swap with, with
raw, the raw community now.
So their, their biggest pool, it
was a hundred, uh, it was 30 K.
It was a 30 K pool on Astraport,
overnight with a little, with a
little deal, um, you know, we
tripled the, their liquidity
their liquidity and we sniped
You know, we, we, you know, and we
now, we now house their main
Um, you know, just like that.
So the volume, you know, we're
going to get the lion's share of
No pun intended, you know, but,
but we swipe their main, their
So, you know, I think it was a
And again, you know, we're
just, we're just a better fit.
I mean, you know, we're just a
community, the roar community,
and Ryan couldn't make it to the
He's, he's doing family stuff,
but, um, you know, we're a
better fit in my opinion, um,
then, then Astraport, you know,
I just think we're a better fit
for that pool and for, and for
that community, you know, we
just, it's just, um, you know, I,
I wouldn't see Delphi or the
Astraport guys doing a treasury
swap with them to, to seed the
So it's just, um, you know, when,
when you come, when you sort of
come from that organic community,
you know, hard knock past, um,
flexibility, there's more
You just, you know, we seem to,
we seem to go out of our way
and be able to help each other
So we attract, we attract those
like-minded kind of projects.
So, so anyways, that was the
deal this week with Roar.
We're really excited about it.
We're really excited to, to align
with them, um, and, uh, and to
increase their liquidity depth.
I think it was, uh, it was a plus,
um, for both communities.
So now we're going to get the
line share of that volume, which
means more fees, you know, which
means more whale buybacks,
more TVL for us, all of that, all
So they got a, they tripled their
size of their liquidity pool.
We got all those benefits.
So, so yeah, so that's, um,
that's that, that's that piece
So Sebastian, did I get this
right? That the plan is to dump
on, on, on big VCs, you know,
Oh, no, no, don't twist my words.
Well, we're not going to dump
We're going to let, we're going
to get them in, you know, one
at the deck space, right?
When we're, when we're at a
different price point and
different price to where they
They can afford it up there.
And we're still going to go
That's just where they're
going to get on the elevator,
there's going to be plenty of
we're not letting them in
pushing you a little bit.
I had to, I had to push back.
I had to, I know, I know.
So we also, now that we have
roar whale pool, you know,
in the whole ecosystem on and
especially on Terra, we also
Chihuahua, unless I'm mistaken,
I don't think that there's
that much liquidity there.
We'll see what we could do
But that was the first one
was a roar pool on Chihuahua.
But it was just like a couple
I think it was just like a
now it's their main pool.
We've, we've, we've talked
You've covered a lot of ground.
audience, if you have any
questions, yeah, feel free
something in the chat here.
JG, thank you for posting
in the, in the comments here
under the, under these spaces
That's, that's under these
if there's going to be other
question, I just want to,
just to, to follow up with
and be part of this partnership.
And like, I don't know, it's
just already feels right.
We feel like, like, already
the community are connecting
And I just wanted to say thanks
with the Ride the Web program
and just, we just can't wait
because it's one thing that
earlier, but like, it's going
So it's going to be exclusive
are going to be released there.
So we just can't wait to,
White Well, Megaloo, and then
So very excited about it.
I have a question for Philip.
Philip, I wanted to ask you
Does that mean, so if we lock,
in governance, they can't
actually get used for other,
So you're locking up AMP well
and receive voting power.
And this is really the first step
because in a later iteration
locking up liquidity provider tokens.
So you could, for example,
and can also receive voting power.
The idea behind it is more
in this auto-compounding mechanism
And the same is with the LP tokens
that the capital can still
by some traders, by detreants,
he had an interesting question
in our Discord right now.
So part of the RITE program,
part of the example of what
projects joining the program
Now Fluffy correctly pointed out
that most or a lot of the stake
So it's either by Backbone Labs
or you would auto-compound
these tokens to buy back whale
and increase the growth of the token.
But that would be essentially,
projects join the program,
by the liquid staking protocols.
And he asked if there's a way
So if projects join the RITE program
and they decide to airdrop
something to the whale community,
that even though you have
that you can still access
the airdrop in some form or another.
I'd like to get you guys' opinion on this.
So if you're just providing
the airdrop to any kind of wallet
and also to the contract address,
we would auto-compound it.
But I think it would be best
for the users and for the projects
that multiple chains have.
And we can just provide the tools
and transfer it to the terror chain
because it's very hard to index
where AMP whale is being stored
provide it for the single chain
hold AMP whale on the chain
but otherwise it is easiest
Does that make sense to you?
It's a really interesting problem.
the first couple of airdrops,
I'm sure we have to think
about a very smart solution.
get to the whale holders,
maybe whale or liquid stake whale.
very modern smart contracts
deployed on the Megaloo chain.
So it is prepared to be able
to swap through the white whale decks
as soon as it is deployed.
the whole airdrop at once,
but do it over a longer period
So we don't want, of course,
to dump on the project anyway.
I think Fluffy also mentioned
or to the stakers on Megaloo,
partly to the liquid staking holders
and as the white whale core team,
we're happy to provide those snapshots
So then you could directly airdrop
to liquid staked whale holders.
But yeah, it's an interesting problem.
And I'm sure we're going to find
So thanks for the point, Fluffy.
from you guys here on the call
or anybody who has something to say,
you're already over an hour
we're just bam, bam, bam,
about launching the next alliance?
I don't want to announce anything yet,
but we'll have an announcement
Yeah, is there any update
on the reward distribution contracts
for the DEXs for providing LP?
You're saying incentives.
when incentives, when incentives.
I think we have four different
We have literally all of our dev
Listen, the incentives are going
to be huge for the protocol
and to really get respectable
liquidity in there into our pools.
I believe it's going to take it
So we know how important it is.
It's ready when it's ready.
if you have a comment on that
Yeah, so it might be worth
mentioning like Sebastian said,
they're our main focus right now.
So and if something's our main focus,
it won't take too long to ship it.
I think we've proven that by now.
So incentive will go live soon.
Yeah, so over the last couple
of months, we've been working
But now the bondings are done.
And it's the only thing left,
quote unquote, is rolling them out
and fixing some UI issues
which is just normal process
of releasing a new product.
of dev power now on the incentives.
And that should significantly
what's the plan for the rollout
So the value engine is live.
It's running on Terra now.
starting on the different chains?
Yeah, interesting question.
into our internal chat right now.
So we are meeting tomorrow.
We have a meeting tomorrow
So a Chihuahua chain is next,
And that is going to happen next week.
So our plan is to roll out
the bonding now every week,
until all of our satellite markets
until this feature is out
on all of our satellite markets.
So, yeah, look forward to that.
So we're going to have a huge,
huge buy pressure every week
for the next couple of weeks.
Yeah, so really looking forward to that.
I don't want to get any false hopes
out with calling it huge.
But it is, so in a sense, it's true.
So the fees have been collecting
on all these chains for a while now.
And there will be this initial,
large buyback of everything
And that's also the reason
why we're giving everybody,
So when the first initial
and you're not missing it.
it will be the smaller buyback
And that's roughly our plan.
says something like 365%.
Now, obviously, that's not
how it's going to look like
because this is real yield.
we can expect realistically
something in the single digit percentages.
At least that's what I'm expecting.
And yeah, I'm very excited
to see everybody earning real yield
on top of his liquid steak whale.
now's the time to come up.
anything you want to share?
I would say if you have questions,
probably the most efficient way
is to just type them on Discord,
and it's probably just the easiest
just for a protocol comment.
Plus, not everybody likes
if you're one of those people,
just type the question on Discord,
we'll go through them there.
Well, then I just want to say
So yeah, I'm very excited
to have the Raccoon developers,
the RAC-FM and the whole RAC community
There's a lot of room left,
taking the fast track down the river.
The whale's going to wake up
one morning and feel like,
what the fuck is going on?
And then there's just going to be
35 raccoons living inside
playing games, smoking cigars.
but we have raccoon nature.
And I have to be honest with you guys.
So every time I check my timeline,
it's full of lions, raccoons,
whales, skeletons, you know,
I freaking love this timeline.
imagine the smell of 35 raccoons
smoking a cigar inside of a whale.
I hope that whale has a toilet built in.
You're swimming, you know,
you're swimming in the ocean.
No, but in all seriousness,
really, really, really excited
And for the next couple of months
to see how everything rolls out, man.
And it's just nice to see
two very, very competent teams
join forces and the community
is going to gain a lot of value
and a lot of strength out of that, man.
Thank you guys for what you're doing.
I think we can leave it at that.
Thanks, everybody, for attending.
See you next week with one note
So Senkam, he is on vacation
He didn't want to miss this one
but he probably won't be here next week.
maybe one of our other devs up here,
maybe our smart contract lead
and just kind of showcase
some of the other team members
that we have and let them
give a spiel on what they're doing.
You could look forward to that next week.
I just thought about a very simple question.
Block time is six seconds on the alley.
And before we leave, maybe,
thanks again for the warm welcome.
I know I've said it many times,
but it's always fun to be welcomed that way
and already be a part of the community.
And see you in the next one.