I'll see you in the next video, bye!
I am Unkarsh, the CMO at Fire.
Very excited to be hosting Dave and Louis and hopefully him on show in a bit.
Thank you all very much for all your support to the community so far.
Let me actually ask both David and Louis to introduce themselves.
And meanwhile, other people can join.
Once again, I'm Unkarsh, I'm the CMO, and over to David.
I'm working with Fire recently joined about a month ago to help with strategy around growing
the community and growing all the validation partners and also bringing in large entities
to help work with us on sustainability issues and really going to be spending quite a bit
of time on community building.
And I think Louis is going to come up soon.
Yeah, Louis has sent in a request to join.
I'm hoping that he would soon.
But David, tell us a bit about your background.
You've been in the crypto space for a very, very long time.
Give us the flavor into who you are and what got you interested in joining Fire.
So yeah, I got involved deeply into crypto in about 2015, looking at the technology behind
crypto and getting involved in a project called Iota back in 2017, which was a DAG, just
directed acyclograph and a kind of a unique way of looking at how to scale out really
super high transaction speed with very low to no cost.
And then got very involved with Hedera from a founding standpoint, one of the founding
member advisors to Hedera Hashgraph and have been working with Hedera since 2017 as well.
Has worked with probably 10 to 20, 30 Ethereum ERC type projects on the Ethereum side and
then launched my own company in 2017 called Tachyon, which is about the way we're branding
it is in the area of AI and Web3 and deepfakes.
We're developing a registry to determine which data in the metaverse and then Web3 is real
and which data is fake, which is a huge aspect.
So that company has been mostly self-funded by innovation capital from the US Department
of Defense and National Science Foundation and some pretty large innovation capital entities.
And so we're going to be launching a main net with that and be partnering with Fire on
So the main takeaway that I've gotten from this whole space is that there's the super
good technology and then there's community and the community is the most important aspect
of all Web3 projects in my mind.
And what we want to do at Fire is really build a very global, large community and really
start focusing on those aspects as we're looking at launching the main net coming up in June
So we're kind of in that really interesting stage of have not launched a main net but
And that's kind of what we're going to be working on around all the aspects of how to
get the community engaged and get their input and get them excited about being part of this
Louis, tell us a bit about yourself and give us a glimpse of what's happening behind the
I assume you can hear me.
So I am the product manager at Fire.
I've been with the company now for a couple of years.
I think we've been working quietly and diligently behind the scenes trying to get Fire main net
So far, you know, we've got our testnet out there.
We've got our testnet GA launch coming in the next month.
And then eventually in June, we're looking to put out our main net behind the scenes.
So the purpose of today is mainly to discuss about the staking application that we've just
We launched our version 2 which basically allows more and more pools for users to be able
to stake and different locking periods, different lengths, whether that be 30 days, 90 days or
So for holders of Fire, they can basically get their tokens and be able to stake those
and earn a nice little reward on that.
Akeesh, I don't know if we want to discuss anything further.
I think the community should be very excited.
We'll come to the road to main net and what's to be discussed.
But I want to turn to Dave pretty quickly and just ask him, you know, what does community
building and growth really look like from a main net standpoint, from a Fire standpoint?
And what's making you excited, per se, about both the growth and our community overall?
Well, obviously, from a community standpoint, one of the most important things is that the
community trusts and believes in the project as well as has ways to input to the direction
of where the project is going, as well as participating in the success and the growth.
And so staking, as we talk about staking, is a pretty good proxy for saying, okay, I see
the value in the token and I can actually make staking rewards.
And I looked at the staking and it's pretty generous.
If you look at the lockups of, say, a year and you're talking 20% to 30% APR, that's
a pretty generous staking reward.
Obviously, if you're going to do staking for a lower period of time, that's going to
But I think that I've looked at the staking that was put up for this particular event
and I think it's a very attractive staking reward thing.
And I think, from a community standpoint, again, it's really just looking at the value
of something like what fire is trying to do, which is really trying to spread the message
around sustainability and how on this planet we really have a certain period of time before
we really need to take things in our own hands.
And if you look at just waiting for government entities and waiting for politicians to figure
out how to solve these problems, really, one of the only ways I could see really a path
forward from making change is to get very, very large global communities of people in
crypto, degens, and anybody that wants to participate to help in the process in terms
of evangelizing the message, being part of the message.
Even in the longer term, I could see fire chain going down to the individual level
of being able to report, you know, how are you making progress towards goals around sustainability?
Right now, we're focused on getting large organizations and large corporations who have
audited ESG scores, but I could see in the longer term future going to things like DAOs,
distributed autonomous organizations that are specifically around trying to impact certain
aspects of sustainability, as well as individual projects that people are working on in their
communities and their cities and their states that could be part of what we're doing.
So it really is a message around really coming together to help solve a pretty large and
And crypto just turns out to be a great way to do that.
So I always think about it like strength in numbers, we need as many people as we can
get to really work on these projects, because it affects all of us and we can all benefit
At the end of the day, everybody that gets into crypto is interested in how do I benefit
and become part of something like that.
So I just got a thing from a help come on to say he's going to be on soon, by the way.
Yeah, hopefully he will be otherwise we are in good hands of Lewis, which is good.
I will say that this mission alignment and sustainability is critical to what we
are trying to do at fire.
And I personally want to make sure that all of us who come to be part of this mission
are of course in here for the financial upside.
But also pay attention to what we're trying to build here, the larger ethos.
Lewis is a product manager, so I'll let him talk more about product.
But I think when you build something, achieving a product market fit is really important.
And towards that end, the way we build our product, the way we do marketing, and the
way we are just partnering with different kinds of companies, that's something that
we should all be really excited by.
So Dave, I'm going to turn to you for a discussion around partnerships.
But Lewis, do you want to give us a glimpse from now to the main net, what's on your
I just wanted to actually before that, I just wanted to jump in and just build on
top of what Dave just said, which was specifically around sort of how we can't necessarily rely
on government entities to be the ones to push sustainability.
I think that the model that we've come up with with our chain is basically incentivizing
sustainability through financial rewards.
Now, I've not seen any other chain that's doing this.
And at the end of the day, we've seen that capitalism in that sense does work.
So the way that we've modeled our proof of stake is around basically sustainability.
And specifically the validators that will have the better sustainability scores will
then in return get those higher financial rewards.
That was the addition that I wanted to make on that.
As far as looking now until mainnet, we have a few items that we're in the process of
One of the things that's sort of really important to us is this idea of preservation of wealth
We wanted to come up with an idea where essentially anybody who has a wallet, a crypto
wallet, if for whatever reason the worst were to happen to them, they wouldn't be able
to access that wallet in terms of if they were to pass away or have a serious illness
We wanted a mechanism within.
We wanted a mechanism within that wallet that would allow a user to be able to transfer
that to a nominee so that those assets would not just be stuck in that wallet forever
So at the moment, we are building that in a way that essentially a user is able to assign
those nominees that they wish to pass on those assets to and essentially would require
a certain means to be able to facilitate the transfer itself, certain proofs and whatnot.
Another thing that we're currently working on is the secure transaction system, which at
the moment in the cryptocurrency space, there's not really any sort of secure ways
in which you can send a large amount of money without having to essentially make sure
that you send a small amount first and then clarify that with the receiver, make sure
that they received it and then send a larger amount.
We thought of a more secure way of doing that by essentially sending a key when a transfer
And the idea would be on large amounts when the send is to initialize that first transaction,
what will happen is the key will be generated.
That key would then have to be sent via normal social social means to the receiver.
The receiver would then input that key and then the funds themselves would never be released
from the wallet to the receiver until the receiver puts that key in.
And obviously within that, there would be an expiry date on that key.
So that's what we're working on at the moment.
Apart from that, we are also working on a few sustainability items, specifically our
Sustainability Score Service, which is essentially taking real-world sustainability
data, whether that be ESG scores or whatever, and it will take that and sign that onto our
chain. Now, the way that we're doing that is essentially taking those scores, pushing
them through our algorithm, getting a standardized sustainability score and then pushing that
on chain. And then that score is then used to determine the rewards for those validators
I think apart from that, I can actually ask Himanshu to build on that, Himanshu is leading
So, Luis, pretty much covered a lot of things.
One few pointers which I would like to add about what we are building and why
we are building is that, you know, we are trying to solve a couple of problems here.
For example, if you take the secure transactions module alone, if you look at the, you know,
historical data, every year, a lot of funds are actually stolen due to hacked
wallets. So it can be in the form of many factors.
Be like you get airdrops and you get fake airdrops and try to exchange those airdrops
for money. As soon as you connect the wallet to an app, which is malicious in nature, the
wallet, the app essentially steals the permissions and then transfers all the assets on
So that way, a lot of these things happen and there are other ways where, you know, the
wallets are lost a lot of times and people are sick or people are unable to access it.
We obviously all have heard of the guy who accidentally threw away his pen drive and
is still trying to dig it out out of a huge trash dump area.
So we are trying to solve some challenges.
So one of the challenges we solve is the kind of in case of a lost wallet or a person who
is deceased, what in inheritance modules works is the way it works is that you can
actually set an automatic trigger where all the assets are transferred to your
chosen nominee and you can also, I mean, you will also be able to actually choose what
percentage goes to what nominee and the way, you know, the wealth can be distributed
And the second is that with the introduction of secure transaction modules, we might be
able to eliminate the entire hacked wallet scenarios in one go.
So I think the team is working very hard.
We are trying to communicate with the community and we are trying to take user
feedbacks as much as we can.
And based on those feedbacks, we are building continuously and of course, the
sustainability is why, which is why we started.
So that is obviously in the works, we are continuously improving the algorithm.
We are trying to see if, you know, down the line with enough data set in hand, we can
actually, you know, let the AI model handle the automatic tweaking of the entire
algorithmic space so that the sustainability score, which gets calculated, can
actually be, you know, improved using AI or we can do some sort of predictive
analysis on top of it, which will in turn help all the enterprises which are on
board to, you know, to give them a set path based on predictive analysis as to what
more they can do towards sustainability and how, like, what activities they can
participate in to improve their score, which aligns with our goals, which is
essentially that, you know, you earn more when you do good more to the society.
And I'm actually, I just want to jump on top of that and say, I think that's the
part that's really exciting for us is after mainnet is once we start collecting
that data, that sustainability data, the application for AI for us is pretty big.
And I don't think that when I first joined fire, we necessarily saw the AI,
the impact that AI could play necessarily.
But I think basically as the tools have got better and we're like, Hey, we've
got this absolutely great use case here for sustainability data.
Like we can actually like take, create a model around sustainability
scoring and use all of that data and come up with a real time score.
To me, that's the most exciting use case for fire as well.
It's actually very, very interesting and exciting for, it has been a very
We did a lot of research.
There was a lot of innovative tech building.
We had our devs, we had our entire research team work together on this every
day, banging our heads and bashing through ideas of how it can be done,
And out of all that time taken, we are very, very excited to reach
where we have right now and to have a vision which lies ahead of us.
And I think we are continuously improving as we go.
Let me ask both of you a question from the tech standpoint.
What are some exciting and difficult issues that you're dealing with?
Give us the behind the scenes perspective.
Uh, well, I would say the difficult issues is, uh, very much, uh, the
same as with every tech companies.
You build something, then when you try to take it live, you build something,
you test it, it works perfectly.
But when you try to take it live, everything suddenly breaks and you are
like, you know, trying to figure out how and why it broke.
So I think this pretty much anybody who is in the tech industry can relate to that.
Um, that is usually the part where I get frustrated a lot.
And that, that is where we have a late night works and all of the
devs are up trying to fix and to figure out what broke and when, and then
again, you know, going back to the cycle of let's not do that mistake again.
And then in the next cycle, something else happens.
So that is the process, the exciting part, uh, part Luis, you want to chime in?
Yeah, I think, um, well, sorry, add to the difficult part.
I think, uh, the difficult parts for me is making decisions on
what features should be part of, uh, phase ones, phase twos, phase threes.
Cause every feature sounds amazing and we want to put everything in, but then,
you know, basically if we build everything, it will take forever to build
it and we'll, we'll never release it.
Um, a good example of that would be with the inheritance module, you know,
we're going to release that in phases.
Our phase one is only going to be basically, um, the transfer of, uh, tokens
within a wallet, but you know, we could also do NFTs and we could also do
assets that have been state, um, in L P pools.
So this stuff like that, that we're always sort of, you know, excited to
get to the, to the very end of it, but we just have to take a more
focused approach and, and really, um, time out when, when we're going to
release this stuff and, and how long it's going to take to build.
And from my standpoint, um, I, I'm really excited by some of the
education partnerships that we have.
Um, some of you may know, we joined hands with one of the larger
universities in India to run a full-fledged blockchain modules that
again, Himanshu and Lewis, uh, I lost them to speak along with our tech team
and we, in a way, empowering the next generation of developers to come on
board and learn the fundamentals of building on Firechain for us to
become successful with, we need tech, we need a community and we need lots
of developers who enjoy building on it.
So we're also working a lot on getting the technical documentation right.
Um, we have, uh, you know, strong people in product marketing.
Um, so we want to basically take the community along with us.
Uh, with that note, let me actually call upon David to tell us a bit about
growth and what is his plan to grow, uh, the community and bring more energy,
even more energy into the system.
So I just wanted to big picture, um, kind of wrap this around two things.
One is thinking about, um, the topic of today, which is staking.
Um, you know, a lot of people look at staking and they think, well, it's
just a way to get rewards, but it's also a way for a network, a blockchain
network to do its validation and consensus.
And you can't escape the fact that, um, if we're a sustainability
based company, that our consensus is weighted towards those who are doing
things that contribute to sustainability are getting a higher staking reward.
So if you're looking at the long-term aspects of why you care about staking,
uh, a lot of people just care about the fact that they're getting rewards.
But when you start tying it back to the notion of, okay, this is going to
be helping the more staking rewards we generate over time, that means the
more we're moving the world towards sustainability.
And so when I, when I think of partners, I look at my, most of my career,
I spent in, um, in renewable energy, distributed energy systems, smart
electric grid systems, um, mostly around energy, because at the end of the day,
energy is, is the base kind of foundation of everything.
If you take the energy system down the entire world, as we know,
it goes away as, as we know it.
And so I started thinking about sustainability and energy because I spent
a lot of time working with most of the electric utilities on the planet.
And many, many states and, um, large organizations like Department of
Energy and, and all around the world.
And when I think about partners, um, like the idea of anybody who's creating
sustainable energy systems, um, is of high interest to me.
And I'm going to be focusing on those types of partners because everybody
who's producing renewable energy systems or reducing energy and doing all
that can contribute a lot very easily to our rewards mechanism, because
it's, it's fairly easy to measure output of kilowatt hours of energy
produced sustainably, because you can convert that as a proxy into things
like carbon credits, which also have a lot of monetary value for sustainability.
So, um, for instance, if you look at Bitcoin, a lot of people don't like
Bitcoin because it uses so much energy, uses the same amount of energy
to run a house for a week to do one single transaction.
However, now the discussion is starting to move towards, well, maybe
Bitcoin is stimulating more renewable energy production or taking waste
energy that wasn't used before.
Now you can use it for something valuable.
So, um, we are really moving down a path as a company where people like
that are doing Bitcoin mining.
Um, one of, one of my focuses is try to get people who are doing
sustainable Bitcoin mining, uh, to be validators on our network.
So people might think, Oh, they're bad because they're mining Bitcoin.
Well, no, uh, it depends on the circumstances.
So there's on and on, there's a lot of different types of things that
are going on in the world, um, that are moving things in the right
direction in terms of energy sustainability, in terms of, um, you
know, think even things to do with social and governance, cause that's
what ESG stands for environmental, social and governance.
And so there's quite a few things, some are harder to measure than others.
That's why I tend to go towards the energy side because you can actually
measure and verify output, um, on a very, at an hourly basis, if not less
than an hourly basis to determine if you're moving in the right
So that does not include all the other things we want to work with, of
course, in terms of partners, then you get into, you know, the actual
blockchain itself, fire chain, and all the things you have to support, um,
from partners around things like DeFi and things like real world assets
and things like TVL and all the other things, NFTs and building very large
communities, because all of those things that I just mentioned, all could
be working towards the goals of sustainability.
Um, depending on how you're doing those types of projects, you could be fine.
You have a DeFi platform that could be funding people to do really cool
You can have NFT and art projects and all kinds of other things related
to NFTs that are moving things in the right direction.
Um, so all those things really are part of the network, but when I was
talking about the other stuff, I was talking about specifically the
validators who are helping us reach consensus.
And that's where it's, um, it may not be anybody out there doing that as a pure
There's other people that are kind of pursuing that as business models, but
I think that's what really makes fire chain very unique in that it, it's
not a topic that everybody gets excited about immediately, but they should,
because if you think about it, it's really what's the most important thing
that you could be working on, um, in, in the future.
And it's certainly one of two or three that I could think of.
Um, let's take a couple of questions from the community members.
I see if you have a question, feel free to raise your hand or, uh, put
them on the comment section.
If you, again, I guess at any point, if you have questions, you can raise your
hand, um, just want to ask any of the management Lewis game, do you have any
suggestions, feedback, closing thoughts for the community?
I noticed that there was one question.
Um, yeah, we can hear you.
I noticed that there was one question about holding the date for the main
net, um, I just want to say we are working tirelessly to make sure that
we do hit those dates that we've put out there.
And, uh, imagine would like to, I'm sure I'm colored in the question on dates.
Uh, I, uh, I can say thank you, uh, for supporting us.
Thank you for being with us all, uh, uh, you know, uh, for years of this
journey and, uh, this, this weight is about to come to an end and we are
going live with minute very, very soon with, uh, a lot of announcements coming up.
And, uh, I am sure that, you know, uh, whatever your feedback has been, we have,
uh, you know, uh, aligned with all of those.
Imagine if you're speaking and not audible.
You are, you are audible.
So I was saying thank you for being the part of the journey and, uh, uh,
uh, I can't wait to give, give all of you guys a sneak preview of what we have been
building of the main net and in fact, uh, uh, G is going to come out very, very
soon, so keep an eye out for that.
And please guys, we have been building, uh, with the feedback of the community.
Any feedback you have, we are always welcome to that.
Uh, we will continue to improve and, uh, uh, like I would say again, thank
you, thank you so much, uh, for being with us throughout the journey and believing in us.
And I will resonate what I meant.
She said your feedback is very important to us.
Yeah, um, I'm not sure what happened with bookish, but, um, I think, uh, we can wrap
things up there, so guys, thank you very much for joining.
Um, I don't believe that we have any more questions that have been put.
And this is, this is recorded so that people could spread it to anybody else.
They want to send it to and listen to it.
And if there's any other questions, um, can answer them next time around.
Thank you very much, everybody.