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Corval Cast | Sonic is EASY | GM SONIC EP. 81
Recorded: March 21, 2025 Duration: 0:54:12Space Recording
Short Summary
Sonic's ecosystem is poised for significant growth with the upcoming integration of native USDC, enhancing yield opportunities and attracting institutional interest. Recent partnerships and participation in major summits highlight Sonic's commitment to innovation and user confidence, setting the stage for a promising future in the crypto space.
Full Transcription
Hey, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny, Johnny beat, ay yo, yo Yo it's the GM Sonic Show Phantom Opera Flow
Permissionless, immutable, unstoppable Spectacular, gather with Corvill and Dracula
Abracadabra, flip shit like a spatula Few Andres stand the master of memes
DeFi King, half man, half virtual machine No other team can match the collective expertise No other chain can achieve the supersonic
speeds Home of the most creative tech, what's your
favorite decks?
Spooky Swap, Equalizer, Beethoven X And when I place my bet, I never break a sweat
Worship the open source code like sacred text Rest assured, battle tested and ready for
war I check the bribes, cast the vote and collect the rewards
Knock at the door, trick or treat
Move like a zombie but usually I stay cooler than Fonzie
I get surgical with this, call me Dr. Doom
Break the sound barrier, hit you with a sonic boom
We got it wrapped like a mummy in a tomb
It's bout time we address the elephant in the room
It's called Sonic
Yo, what's the new hot topic?
GM Sonic
Straight up alpha, you can get it if you watch it
GM Sonic
Yo, what's the new hot topic?
GM Sonic
Straight up alpha, you can get it if you watch it
Yo, since the Genesis block consensus didn't stop
Innovatin' since day one and never missed the plot
I'm just a humble yield farmer, tending these crops like a routine
See you at the next epoch, and you're the defy renaissance
Yeah we were part of that, your favorite dap? Phantom is where it started at.
Go to paint, swap, a cop, an ancient artifact. Let's run it back so we can 20X the market cap.
FGM's the pre-sale, X is the ticker. It's best to zoom out so you can see the bigger picture.
Brand new tech, brand new insignia, no trivia. We stackin' more chips than Nvidia.
Graduated from Halloween to a sonic theme
The dead chain resurrective make you wanna scream
Due diligence, follow the new primitives
Controlled by the citizens built to move billions
Yo, mass adoption, that's the only option
We ain't stoppin' till we've locked in the top ten
Who got the best community?
Who got the most promise?
Who got the most pumponomics?
Phantom and now Sonic.
Yo, what's the new hot topic?
GM Sonic.
Straight up alpha, you can get it if you watch it.
GM Sonic.
Yo, what's the new hot topic?
GM Sonic.
Straight up alpha, you can get it if you watch it
You better not mess with my gang, or you'll be messing with Oopy Goopy, General Munchkin Man, Lil Jim Bob, and worst of all, Larry. Cuando es la punta del pecho lo que voy a hacer es agarrar la punta de la pistola, torcerle
el brazo, no no no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,
no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,
no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,
no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,
no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, ¡Palo! Te pongo el... ¡Eh! Lo hacemos, por favor. Dale. ¡Tira!
Me saco mucho...
¡Ahhh!
Bueno, espero que les sirva nuestra técnica de defensa personal
y gracias por seguirnos. Okay, okay, okay, I need the price to go up. I can't take this anymore.
Every day I'm checking the price and it's dipping.
Every day I check the price, bad price.
I can't take this anymore, man.
I have over invested by a lot.
It is what it is, but I need the price to go up.
Can devs do something?そんな世界を僕らは行く 誰かのためにまた目覚めるだっても僕は歌うよ Hello and good morning, gentlemen.
How are you?
You hold you get a haircut?
What do you think, buddy?
Wow, you look fresh and clean, huh?
Yeah, you look good.
There's nothing quite like an assistant compliment, you know, that's crazy. Thank you. Super rare. the it's some shit I can't even say on TV you know. Bro what kind of hoarders mess you got behind you there what's going on?
It's cool having a girlfriend dude she just leaves her shit just everywhere part of my
language you know what I mean?
She just throws her stuff everywhere.
But then you know like if I give her a spot in the closet then it's too you know what
I mean?
Bro are you wearing a kimono?
No this is a robe but I do have a kim. I'll treat you to that next time, assistant.
If you can help me out here.
I know, I know.
I know this shit.
You get a lot of attention due to your swagger man,
but I want to emphasize you're pretty,
you're probably the drippiest person on Sonic.
Damn.
I mean, what's the competition?
You know what I mean?
Who else is doing it, bro?
Well, I know Aspynth wears a poncho.
That's pretty drip honestly yeah it is
when i saw aspen's dude he's got more than one oh i saw the first one on order
that was not flat bro yeah good looks good looks out there you know we we gotta do something
y'all we'll see an austria dude we'll have a drip off dude you're coming you're there right oh look
i'll come dude.
I wanna go to Austria so bad,
should I might not come back.
You're definitely coming for sure.
I'll make sure you're there.
Okay cool, I'm counting on it.
I got something I wanna get you guys'
feelings on here real quick.
What is this, how does this make you,
oh wait, you guys can't answer this.
Nevermind, I'll save that for later.
I think your positions preclude you from looking at prices. You can
look at this. Flanek, again, dude, I'm seeing above polygon. What are you guys doing? How
are you guys doing this? How are you guys cooking it up like this? It's just non-stop
growth.
Well, look, I joined the call just now, just impromptu. I'm actually like leaving my house in a couple of minutes, but I just joined because I wanted
to give like a more in-person recap of like how the, how our week went.
Cause like we had a really big week this week.
So first I'll start off with a DAS, so digital asset summit.
So it's like a big institutional summit in New York and like, you know, like all the biggest names in the industry are there.
Like Michael Saylor was there and you know,
basically every big shot. Um, and look, like,
we've thrown a lot of events,
but the turnout is usually not so strong because there's just so many other
events. And it's not that there's a lack of interest in Sonic,
generally speaking, or, or Phantom before,
but it was just like, there's just so many like side events.
Right? So you're competing with side events,
regardless of the project,
maybe someone is throwing a fricking ax throwing contest and it
sounds more fun than, you know what I mean?
Like it just depends. This one,
I had a conversation with Andy from our events team. Luis helped out.
We got some merchant stuff and it was like, look, let's do this event. Let's aim for like 20 people.
Let's book 35 people because we always calculate like half of the people just literally don't show Mm hmm. Bro, it was packed like every single person who RSVP showed up.
So we had to do a little bit of musical chairs, uh, cause it was a sit down lunch,
but it was, it was, I wish I had more time to take pictures and like get video of the
event because it was honestly like the most rewarding experience I've had
working at Sonic so far. I think that the people who are all there are ones that are
actively a part of the ecosystem and they're not just like random people trying to like
sell you anything like we're either we're currently doing business with these people
will be doing business with them in the future
or they're exploring actively doing you know doing something on sonic so i think i put
a tweet i'll just like reiterate the list hold on one second shit where is it didn't
i send oh here you go no wait yeah you tweeted it you tweeted it yeah i'm trying to find
okay this is the list of people
So we have Galaxy digital which is a massive fund huge
multiple billions AUM
shadow
Euler silo Artemis token terminal circle Stargate layer zero pith Veda labs Gemini grayscale
Jigsaw okx GSR chain link jump tradinglink, Jump Trading, and Coin Fund. And like all these
people were super cool, really great conversations. And like, I never been to a Sonic event that
actually had like protocols of that stature or like applications or institutions of that stature. So
it was really, really nice. And I think like the overall interest in, you know, the points
and just the chain, the tech stack, a lot of people really interested in getting
involved in rings, which is like really cool, um, functional side. So like Andre was there
as well. Like, um, it was myself, uh, Sam and Andre kind of holding down the fort. We
had conversations nonstop for like four hours. So it was really, really, really good. Um, the other thing I wanted to just mention was like USDC, like, oh man, I've
been wanting to tell people for so long, but obviously we have like NDAs and stuff. Um,
break one right now. No, it's okay. You can afford it. USDC is public. The announcement
is public now, so it's fine. But I mean, look, I also put out another
tweet yesterday, you know, semi heartfelt. But like, look, when I when I joined the team,
I think I speak for everyone on the entire Sonic team, it's like, we lost a lot of trust
from multi chain situation, even though multi chain wasn't we none of our tech was exposed,
right? Like we didn't have an exploit ourselves. But because they were a partner, um, it just kind of snowballed
and it just, it, we lost a lot of trust, not only from our own community, but from people
just in the industry, partners, institutions, et cetera.
And I think that like regaining that trust has been a priority of mine and the teams
for so long.
So obviously now there's around $260 million of USDC on the bridge.
And then very soon it will upgrade.
So like you won't even need to do any token swap.
Nothing.
Circle takes over ownership of that contract.
And all of that underlying USDC is now native USDC on Sonic.
And it gives people like a very safe place.
Like if there's market turmoil or ends uncertainty like you can now rest assured
That your USDC will be safe on sonic because it will be the real one
It's not like any not to say the current one is a fake one
But everyone knows that it's a bridge version, but like it is a main major priority like
It'll enable so much like and if you're not familiar with like what having native
UCC means maybe you're just listening to this and you don't even know what's the difference between native and bridged
but I'll explain bridge usdc is you basically have a receipt token on sonic and
the underlying usdc for that is in a contract on aetherium and that
Token is valued one-to-one because it's a receipt for the Ethereum version.
But when it's native, there's no receipt.
That token is USDC and it's fully redeemable with circles.
Like if you're an institution,
you'll be able to mint USDC directly onto Sonic
through like on ramps from circle, same thing for off ramp.
And also it just enables a lot more institutional adoption
because let's say you have a protocol like Aave that's very trusted on Ethereum with billions of TVL with USDC.
Now that USDC is going to be the same on Sonic so it will allow us to kind of already
like let pass due diligence of a lot of large funds and institutions because they look into
the token. They don't just use a bridge version. They want to make sure it's the native one.
They want to make sure it has like the insurance from USDC that it's that it's backed. They
want to make sure that the protocols are, you know, are, are they're familiar with the contract.
So I think, you know, having native USTC, like when that switch flips on
and we have native USTC on Aave,
that's like a big weight off my chest and all of our team.
It's a major accomplishment for us.
It's huge to our enabling massive TVL on the chain.
Yeah, that's fucking massive, dude.
Cause now I don't have to,
if I'm in a big institution,
I have to worry about all these middlemen, right?
I have literally just circle and I'm just transacting on the sonic blockchain without having to do
The notorious bridge problem and also interacting with Aave directly. Can you name any specific
partners or or firms that were that are like ready now to hop on a sonic because of this?
I mean a lot of the
Well, this is one of the things that we have a
conversation about frequently is like, obviously it's a permissionless
network, right?
Like we can't tell who to do, to do what, but if we do have the
opportunity to work with funds, like it's their discretion, whether or
not they want to do anything on the chain and, and we encourage them to
kind of make that decision for themselves.
We don't really force it on them. We more so present them the yielding. Like I spoke to a large
fund this morning where I just sent over and say, Hey, Aave caps have been raised. Circle
you isn't becoming native USCC. And I don't, you know, I'm not doing any side deals to
bring TVL. I'm not begging them to do TVL. Like if they want to come,
they want to come. So we give everyone just a like a fair shot. I think if you have a
chain where you're trying to do like these deals to bring in more TVL, like I speak with
Johan today on our team and he had a really good quote. And I think that this really echoes
like the the kind of sentiment of Sonic defy right now, which is
hold on. Let me find it. He said, hold on. I'd rather make
a few thousand people life changing money than just get
TVL from a handful of whales. Because look, like if you if
you get a billion dollars in
TVL, one whale can deposit that like one fund can deposit a
billion TVL in Aave for sure. But who's going to make all the
yield from that? It's just one guy. Yeah, or one entity. If you
have 5000 people, you know, 10,000 people putting all
different sizes, it's way stronger network effect than just kind of
Facilitating like one whale just yielding and then leaving right there
Those things is so much stronger if you have a distributed amount of field like that
So I think that's something to take into consideration
Like we could have went the route of other chains and onboarded like huge amounts of TVL in the beginning for any asset
BTC eat whatever but we opted to kind of a pretty moderate approach towards that and it's been working
out.
So you guys are sticking with this angle of the people's chain, huh?
I like to have TVL as a metric as much as I hate it and I think that it means nothing.
I think that it does mean something in terms of like the narrative because it's like the big shiny number that people talk about
like a bear chain is a really great example like nothing against bear chain at all. But
I'm just saying like they had a really high TVL in the beginning. So it attracts a lot
of people because like wow, do you see how much TVL they were able to get and that applies
more than bear chain actually like let's be's be fair, like, zirkit was another one. Um,
blast was another one, like they get these huge injections of TVL, but all it takes is that one person to just want to leave and then they just take everything with them. Like it comes down to,
would you rather have a centralized liquidity source or would you rather have it distributed
through a few thousand people where they're all having different like human interactions with the chain and their own
sentiment rather you know rather than just get rugged and one billion exiting in TVL
quickly because that's what happened on like blast and all these other chains.
Yeah, no I mean that makes a lot of sense.
You'd rather have it be you know what is what is the thing? It's like one is
the fascist line, I guess I'm going to be a little freaky here. But you know, like a
bundle of sticks, like one stick is kind of easy to break, but like 1000 sticks together,
a lot harder to break. It's a resilient system.
Yeah, I mean, if you're if you're willing to, I think a big part of that is just identifying
it because it is. It's tempting, right? Like if you're, if you're willing to, I think a big part of that, it's just identifying it because it, it's tempting, right?
Like if you're a chain and you know that people really care about TVL as far as
narrative and you're talking to someone and they're like, yeah,
like we'll deposit a billion dollars in TVL or 500 million or whatever.
Like you're just tempted to be like, yeah, like, let's do it. Let's do it.
Cause it sounds good in the moment, but I just think that like,
and we've had those conversations like for sure.
And in all fairness, Andre has always like kind of said, like try and stay away
from those because those people are just like liquidity locus, which is true.
Um, but in the beginning we did, we did enable it a little bit, like we'll be
modifying the points campaign, like as the points kind of goes along to make sure
that it just reflects like the most important conversation I had at Digital
Asset Summit with some of the partners and people on the
chain is like, it's very simple. If you have transparency with
your partners and you're having candid conversations, you can
have the best ecosystem. So if someone is coming and like the plan that you're doing,
like let's say we onboarded someone for points,
we white listed them for points or whatever,
and it's just changing.
Like maybe it's just not working as well as you had thought.
Like there's no way to know how effective it is.
Like I think that the foundation, like Sonic Labs,
has the responsibility because there is an inflation
through governance for the airdrop.
We have the fiduciary responsibility to make sure that the airdrop is as capital efficient
and as effective as possible.
Like not just giving out points to anyone for any reason.
There's like valid reasoning why.
And a lot of people ask that about X33 and Shadow.
Like why does the one DEX decks have we plan to add more
decks is in the future but like we wanted to try it out first.
And I think that like, there's no denying that a V33 like a
liquidity hub for the chain is very beneficial. I think we see
it like the volumes on shadow and the fees is insane. So like
yeah, everything is a work in progress. Everything is subject
to change.
You know, if we make a deal with someone,
like not to say that we back out of the deal,
but like if we notice that it's not working as well,
we're not gonna continue to waste the cash.
We're not gonna continue to dilute
the holders of the S-Hoken token through an airdrop
for something that's just not working.
Yeah, I kind of appreciate that flexibility
because a lot of people kind of get exploded
by being by sticking to these kinds of commitments. And a lot of people kind of seem to get this
feeling that they're being rugged over. I hate that. I hate that. Yeah, it's easy to
say that you're being rugged because like, everyone's spiritual. Everything is a rug,
right? Like everyone claims everything is a rug. But the simple fact of the matter is
no no blockchain companies fucking JP Morgan or the Federal
Reserve or whatever, where they have these.
Even they change stuff like crazy.
Yeah, even they change stuff because they have to, right?
The world is changing around us all the time.
We have to respond.
But there's, this is even more uncharted territory, right?
For us, it's like, think of it, I mean, I
hate to use this as an example, but if you're using like the US
government as an example, it's the same concept of like, they
inflate the US dollar. And if you're feel like you're in your
everyday life, if you're an American, and like you're not,
you're not, you know, you're just inflation, and then the
costs are going up and everything is you're not having
a good user experience, then like you're going to want it to like you're going to want to make sure that
the money that you're spending for your taxes is like efficiently used, right? Like, so if you're
seeing it happen in the government now, I guess, like through like efficiency and like government
spending cutting back, it's the same exact concept. Like, if we're allocating a budget for some type of incentive, and the incentive
just isn't working, and the ROI, which is, you know, measured in
like a lot of different things on our end, it's not only like
financial ROI, but also sentiment, narrative and
partnerships. But if it's just not there, then we just need to
move on from it. And if it means that a partner, or like someone
who who's building on the ecosystem gets mad at us,
like, we'll try and do it so that it's not like an overnight rug, you know, it's not like, hey,
we're cutting everything tomorrow, we'll give them a heads up and give them a reason why like,
hey, this isn't working as well as we thought. We have the responsibility to make sure that
the inflation that we've introduced to the ecosystem is as capital efficient as possible.
And that like we get the most out of our bank, like the most bang for our buck
out of, out of dilution.
And we're the ones ultimately who need to report back to the community about
being like responsible in terms of spending, like those applications, they
could come do what they want and then vanish and never be involved in the
ecosystem again, like you don't know, but like us, we have to stick around.
So we have to be somewhat accountable to all these,
to all the token holders to make sure
that it's used properly.
Right on.
Well, I'm glad you guys are taking this kind of approach.
I feel like you're communicating it much more effectively
than I've usually heard it communicated in that you guys have stakeholders, right?
And so you're trying to balance the interest
of all these stakeholders and favoring the ones
that have the longest term value, right?
Which would be like the general usership,
the general chains operation.
That makes perfect sense.
Now, if we go back to the native USDC,
we were just talking about how big institutions
really love it because they can mint it
directly under the chain.
They got access to Aave now.
What does this mean for me, the small guy?
You know, the small fry.
Yeah, actually, if you saw the announcement,
it also comes with CCTPv2.
So CCTPv2 is like just a more efficient
bridging solution for USDC.
I think like onboarding stables to a chain is super important. Um,
so if you're able to bridge stables, like not only fast, but like really cheap,
technically, I mean, if you think about it from a, from a,
like a tech, like a technical point of view here,
if you have usdc on sonic, right. And then you have usdc on Ethereum. Technically, it's just like a technical point of view here, if you have USDC on Sonic, right. And then you have USDC on Ethereum. Technically, it's just like a,
like a balance transfer on the circles end, right?
Like they're taking a dollar from one pocket and putting it into a different
pocket. It costs them nothing to do like on the backend.
So I think that like when you're, that's why they usually have like really good
rates. Um, I think they're about to get even
better. So like, it'll mean that you'll be able to bridge from
other chains that have native USDC for very low cost. I mean,
aside from the gas, but like the actual cost, pretty sure is like
pretty low. That's huge. Because normally right now, the only
way for you to get USDC on Sonic is through a bridge. And it's
expensive if you're moving a small amount.
Like let's say you are an everyday user and you're doing very small transactions.
You have to do approvals and claims on Ethereum.
So it's costly.
But let's say now you want to bridge from another low cost chain like Arbitrum.
You want to bridge us DC.
You could just prove native us, you see to native us, you you could just prove native USDC to native USDC,
like very cheap and have zero interaction with our bridge.
Like even the backend, there will be no arbitrage
on the bridge because it's native.
There is no need.
Yankee wants to know, will Circle get VM
on all USDC transactions on Sonic?
Yes.
No way, dude, that's crazy.
The rich get richer.
I mean, it doesn't work like that actually.
It works like there's a call,
and Andre talks about this all the time,
running an L1, it's fucking expensive.
It's super expensive.
So I think that the most important thing to understand
is that we're not paying them like the fee and that
they're earning is like kind of deducted from like what the cost is. You understand what I'm saying?
Yeah, it's not a bonus in this case. It's a rebate kind of thing. It's kind of like a rebate for them
because like we we basically have a contract with them just like every other chain. And in that
contract, you know, it's
whatever the specifics are, I can't really dive into it. But yeah, there's costs associated
and this helps with the costs. So what I mean, it's not a significant amount. I think we
did the math. They maybe made like a few thousand dollars. It's super cheap to move USCC like.
Yeah, we already saw it's extremely cheap. So this is kind of paying a picture for me now, you know
I know you said you had to go but you got to answer this question for me
So it sounds like you know, USDC is cheaper. You see see super safe
It's a lot easier to get it in and out of the network now
You got a they
You got Aave lending protocol, you got Silo, you got these awesome lending protocols.
Lending protocol you got silo. You got these awesome lending protocols
Are we moving closer to Sonic just completely replacing my need for a bank, dude?
I don't even need a debit card anymore.
Yeah, I mean, you're in the US.
Wait, hold on. I can't use in the US, right?
Yeah, there will be a US version though, like within the next few months.
Red.pay, also, I mean, if anyone has looked into it, Red.pay is us,
additionally a massive partner with Circle. Red.pay does over $5 million of transactions a day in all crypto, which I think is a lot personally. Like I wish I was able to invest in them. I've
been talking to them forever and they just raised $40 million. Yeah, they're pretty serious. They're based
in Hong Kong. We talk to them all the time. I've met them in real life. They're really
good people. And a lot of people ask, by the way, like, Oh, there's a red that pay app
on the app store. Like, so let me explain to you. Red that pay app in the app store,
just to give people a little context, red that pay app in the app store is a different
entity. It's like a Hong Kong entity that That's kind of governed by Hong Kong rules and
Hong Kong financial authority so it's a little bit harder to get new assets. That's why they only have like
BTC ETH
USDC USDT to add new chains and assets. It's like a really lengthy process
So we went another route which was like through a Singaporean entity that they have, where you can kind of do white labeled
solution. So that's why we're able to have USCC even now, like even now they're
willing to accept bridge USCC because they audited the bridge, they looked at
everything and they were comfortable with essentially honoring that version of
USCC. But yeah, I think that we'll start to see a lot of people using USTC in my eyes
Obviously like every chain like we would love for USDC to replace USDT on Tron and use USDC on Sonic like that would be amazing
but people are starting to realize like more and more how fast the chain is and
You know just a side note. There's a lot of fast chains, of course
But like Sonic is the fastest layer one like you can have really fast L2.
It's not hard.
yeah, even if you have a really fast L2, just don't forget, you need to wait for
the settlement on Ethereum.
Yeah.
And it takes a little while.
I saw some, well, I saw a little beef about this.
Some no name chain was talking about this.
Um, but yeah, I mean, what's that?
Speed?
Yeah, it's not called speed chain.
No, no, no, I know what you're talking about.
We're talking about the speed, yeah, yeah.
It's not even worth mentioning them
because no one even knows who they are.
So it's just like a marketing,
like it's just a marketing thing.
Yeah, they were just doing some marketing.
I get it.
You always see people say this,
the only metrics that matter are the metrics that are good for your chain is how people usually talk about it. You always see people say this. The only metrics that matter are the metrics
that are good for your chain is how people usually talk about it. But,
Yeah, I mean, even the metrics that are out there are just so they're so embellished.
Everyone you know, I don't like to say that like, we embellish because we don't like we're
pretty truthful with all this stuff
But like it is really hard playing field when like you're trying to be an honest
Project and then everyone else is just embellishing. It's like it's just not it's not fair. I mean
You're gonna keep seeing it. You're gonna keep seeing projects just like make really bold claims and all this stuff
But look, I think that in the future, like when I say future,
I mean, even within the next six months, like there'll be a ton of fast EVM chains.
But I think that the things that set us apart are like fee subsidy,
fee monetization, account abstraction, those types of things.
And then on top of that is also just like the team.
I cannot emphasize this, like it might sound like I'm just shilling the team, because I do post
about the team a lot, but the team on Sonic is really good. It's just beyond being good in terms
of technical skill, like the tech, they're just good people. And we all take a lot of pride in the
work and we all work really hard. We all have seen like the downfall of like multi-chain and the destruction that it caused
and like we just wanna make it better.
So I think if you're a project like Euler,
like Euler is a great example, like redemption arc,
like they got hacked and they just went to zero
and then like they're at all time high TVL now.
So like if we can embody that spirit
and just keep things moving and just like keep pushing,
keep pushing, keep pushing keep good keep pushing keep pushing
That's how you become like a top
20 top 15 chain
It's not by taking shortcuts. It's by just like grinding it out building a good team and just sticking to the fundamentals
That's right, dude. Just sticking to the fundamentals building a good business. Then of the day is all business, you know
Yeah, like to cut corners, but it really just takes time,
grinding, working hard.
We said this fall zone in a few months, I guess.
I don't know, maybe in time for Christmas.
For a Sonic debit card in America.
Yeah, maybe.
I mean, they're working.
I mean, let me just reiterate,
like we don't operate the card, right?
Like they have a partner so
Like if you have a technical support question, like we can't really help you
We will just you just kind of email them type of deal but like from the communication that I've had with them
It's like the u.s. Is next they're already having conversations with the u.s. Visa
Because in every like u.s. Visa is very different from every country has different visa.
Um, but yeah, have you tried it?
Have you been able to, you know, get a European friend, you know,
something, maybe, maybe your girlfriends from like, uh, Germany or something.
No, you have to probably provide proof of a identity too, right?
Like can't be like, I'm literally just in.
No, you got a KYC.
Yeah, for sure.
I'll ask a European to do it for me.
And by the way, oh, yeah.
Yeah, look, I think that, you know, look, when you're in the Austrian dancers,
I'll get them all on board the Austrian dancers.
That sounds like SBF with the Thai prostitutes or whatever.
Right. Wait, SBF was hiring Thai prostitutes. You didn't know that? No, he didn't seem like a guy that would the Thai prostitutes or whatever, right? Wait, SBF was hiring Thai prostitutes?
You didn't know that?
No, he didn't seem like a guy that would hire prostitutes.
He seems like asexual.
No, no, no.
If you just Google it, just Google SBF Thai prostitutes.
It says, FTX tried a lawyer, Thai prostitutes, and finally a bribe to get funds unlocked.
So basically they had funds unlocked in like some weird exchanges in like Southeast Asia. So they just have like Thai prostitutes KYC to like get the
funds back.
Oh, I thought you were like saying you like literally hire them to like have sex with
them. He's doing my exact scheme of.
Yeah, exactly. Exactly.
That's funny as hell, dude. See, look, great minds think alike, except, you know, I'm not
going to go to prison because I don'm not sure you're not with Diddy
Yeah, no, I'm not with Diddy. He said that Diddy is taking care of him in prison though. So that was very very
He smirked a little bit too much when I like the whole Diddy segment
He was very like but you know what I guess like I hate to pivot here
But I do like talking a little bit about pop culture
I think is I hate only talking here, but I do like talking a little bit about pop culture. I think I hate only talking about crypto. It like makes my brain dead, but
it probably feels good if you're in prison and you're like a celebrity to see like another
celebrity coming and you're like, all right, I'm not fucked up. Yeah. Like you're not going to be
the only, the only target. Yeah. Yeah. But how do you think, like, walk me through it.
What do you think the comparison of like when CZ was in jail
versus like SBF, like, how do you think the treatment
is there?
Because I know CZ was giving like tips to people
like on like buying chain link and stuff.
I feel like CZ is a bit more charismatic than SBF.
He's like a lot more like a, like a guy you can like talk to, I feel like SPF kind
of, he's in his own world, huh?
Yeah.
He's got, he got a, had to been like isolated or something.
I've doubted he made a lot of friends because he, I heard that he got, um, solitary confinement
after that interview.
Did you hear that?
Yeah.
Yeah.
Cause he did it illegally.
How is that possible?
Smuggled the phone in.
No, it wasn't a phone, bro.
It was like, it was definitely like a laptop or something.
But how, how were they, how were they able to facilitate
a Tucker Carlson interview and not get a, like, how did,
no one knew that this was happening?
You use some Thai prostitutes and bribes maybe, I don't know.
Like,
I don't believe any of this stuff.
It's so, it's so wild.
I've never been on the inside.
Follows them said he used his computer time,
but that seems like an easy thing to block
Why does this have an HD camera? I thought yeah all those like I watched it
Oh, you like hip-hop, but I saw a video. Did you see that video of?
Trey songs I'm not Trey songs
What's his name the guy who shot Megan Stallion in the foot? Oh, yeah, I know your time about forget his name
He's another R& B guy, right?
Hold on.
He shot her in the foot, dude.
Torrey lanes, Torrey lanes, Torrey lanes.
Did you see that he was doing a video?
Like he was like rapping on like a jail video and then like a guy got like,
there was a fight broke out behind him.
That's the quality jail camera I was expecting.
I wasn't expecting a 4k SBF interview.
This guy, this guy's, uh, um, his, his like rap freestyle video was so blurry.
Let me see if I could find a tour.
I don't know.
Sometimes you see some prison videos that are really too high quality.
I saw one where this guy was talking about he's like I got to get out of here
I just saw a guy stab another guy in the chest and say that's how you kill someone
Yeah, jail scary, bro. I don't want to go there. They have iPads in prison nowadays
That's what I'm saying. Maybe it's not that bad after all see Martha Stewart started a trend back in the day when she was like
Oh, yeah living lavishly.
I'm a big fan of Martha Stewart, dude.
I've met her.
That's awesome, dude.
I'll give you a good story about Martha Stewart, actually,
before I leave.
I was flying one time to Dubai, and I
was getting on the plane.
And literally, you know when you're
about a step onto the plane, like when you're
on the connecting thing? And I got a step onto the plane, like when you're on that, like protecting thing.
And I got like a tap on my shoulder and I turn around,
it's fucking Martha Stewart.
And I was like,
how, I was like, hi.
And she's like, I just really wanted to tell you,
I really like your pants.
And I was like, I almost had a seizure. I was like, holy shit.
I was wearing flower pajamas because like I was going on a long flight. So I like pajamas.
And yeah, anyway, that's like the highlight of my life. It's crazy. I got a floral pattern
compliment from Martha Stewart on an Emirates flight. That's crazy that Martha Stewart
would co-sign your pajama pants, too.
That's what I'm saying. I can never throw those out ever.
Yeah. Well, I mean, what was she wearing?
Was she in pajamas, too?
Dude, I went I he blacked out.
I I fucking blacked out, man.
It was just amazing.
I try to, like, you know, have another conversation later,
but she was she was far in the first class and I was like not even in that same region of
the airplane. So yeah, she was in a suite probably or something. Yeah.
You didn't even get any stock tips out of her. What a shame.
She probably needs crypto tips. Oh yeah. She probably would be hot on them, dude.
She'll teach you how to properly cook a lobster and you can teach her how to
properly,
I don't know, farm shadow. Yeah. How to get X 33 on shadow and, you know, farm a vault on Metropolis.
Yeah. Well, speaking of pop culture, now you got to go, but real quick, I want you to,
I see these photos of Andre sometimes I'm concerned about. I don't know if you've seen
this, but I'd love for you to get him on something like
this.
I'm kind of daily plan like this.
Yo, I watched his video.
Yo, I watched his video.
Is this real?
He probably is just doing this just for the video, right?
Like he doesn't do this every day.
Waking him at 3 45 a.m. is the stupidest shit in the world.
You know, this is one million percent Miami, by the way.
You could just tell.
Oh, yeah. Well, because it's like all fake and shit.
No, no. Just like that balcony he was on looked like he was in Brickle in Miami.
Yeah. And the man and the man wearing a female Van Cleef bracelet is just very
this thing. This thing about them shoving their faces in the ice water.
I've noticed this in a lot of these.
This is a new thing.
Is that it?
Should we be doing that?
Should we start?
Should I like Doc's and like we doing calls like that?
Yeah, let's start doing that, dude.
I think it impresses people somehow.
I don't know what the point is.
It probably feels good.
I mean, it's like a poor man's ice bath.
I guess just put your head in a popcorn bowl.
Dude, look at this guy, your head in a popcorn bowl.
Dude, look at this guy, bro. His traps are huge. Like, what is he doing, bro?
Who's recording this? Is he doing this himself? Yeah, he's doing, he's going out and setting up the little tripod, click and record.
He's a watch. Wait, wait, wait, wait, wait, wait, wait, wait, wait, wait,
rewind, rewind, rewind, play. Okay.
Here pause it when he gets out of the shower, when he gets, rewind, rewind. Huh? Play. Okay, here.
Pause it when he gets out of the shower.
When he gets a towel, hold on, wait.
When he gets the towel.
Wait, a little more.
He's wearing a watch.
Yeah, dude.
He's wearing his Rolex.
He just set up that shot.
Look at this, dude.
I've never seen anyone do this before.
He rubs the banana on his face.
What is the point of that?
Bro, you know what?
This is like one of those like Miami crypto traders like made one money off one NFT and has like
a Lamborghini with like, I buy NFT license plate or
something.
Oh yeah. Well, this is literally what you were talking about
here too is right before this important meeting, which if you
can't hear him, he says, no, we need to get that number up to
10,000. So looking at it, bro, we got to go ahead and get in
at least 10,000.
He takes one call at nine o'clock.
Uh, the turkey bacon.
Who's making this food and this water?
I'm sure he's putting hot honey on turkey bait on his eggs.
Yeah.
On, on everything, dude.
So yeah, I'm gonna need you to get Andre on this so he can, he can
take care of himself so we can keep him around.
I'll hammer, I'll hammer down on that.
Don't worry.
Something like that.
I would honestly, I think that would be an incredible marketing if you could get, uh,
Andre's morning routine.
He wakes up at 3 AM and what if under that black hoodie is just shredded like that?
He could be.
I don't know.
I imagine he wakes up at 3 AM and smokes five cigarettes and then I don't know goes back to sleep
Yeah, probably probably packs his like lip full of 100 zins. Oh
Yeah, maybe Andre's like a huge zinaholic. Who knows? He's a mysterious guy
I know very little about him other than he watches bad anime and the only thing I know about Andre is that he's wardrobe consult
It's only black clothing.
That's why I trust them, dude.
Black hoodie, black pants, black shoes.
I want to buy him a gift.
I'll buy him the new Yeezy, the new black Yeezy.
Oh, whoa, slow.
I got to go.
Once the once the Yeezy gets brought up on a call, I got I got I got to run.
I get it. I understand. But on a call, I gotta run.
I get it, I understand.
But, oh wait, I got something else we've gotta cover here.
I mean, feel free to hop off if you gotta run.
I just feel bad, cause you know.
You're on here by yourself, bro.
You're just so low.
Yeah, I mean, really, we gotta wrap this up.
I see you have time for one more question, let's hear it.
Well, it's not really a question.
I just have, I gotta do this.
I promised Luis to do that, do this.
Unfortunately, I had to go cause of time constraints,
but he has an excellent thread on nine easy things
to do on Sonic.
Have you seen this?
I have not.
I should, I should be retweeting this.
Yeah, this is a great-
Number one old ass, yes.
Yeah, this is a really great, I guess,
like onboarding document.
Like, you know, when you come on a chain,
a lot of people don't know,
if you're a, if you're a,
if you never experienced DeFi before,
never used it before, there's like X-Links,
it kind of just lays out everything you can do.
So number one, hold S,
he provides like a bunch of bridging options,
like D-Bridge, Rhino, MagPy,
buy an NFT on PaintSwap,
duh, hell yeah.
What do you think about NFTs,
do you think they're coming back in a big way?
I like them when it's like a very,
like when it's an obvious community play, I like it.
But when it's just like, I mean,
I think I saw today Samsung or LG is like winding down
their NFT platform, Did you see that?
No, but I didn't even know they had one.
It's kind of silly that they ever did.
My that was, that was it for me, you know, here, I'll actually forward it to you
on telegram. Hold on. I saw Reddit.
I think wound down their NFT thing too.
A lot of these people build the NFT stuff on polygon and polygon is kind of dying
a little bit just in terms of just like chaos lately. So
actually, you know what, I don't want to get clipped on that. So polygon is great.
Polygon is recovering. It's doing great. It's getting better every single day except it dies.
LG just shut down NFT platform joining a wave of closures in the sector.
Wow. Yeah, it's crazy, dude dude. Starbucks is gonna close down theirs next.
Probably.
I agree, community play,
and then sometimes I think they're pretty,
I mean, the VE NFTs are obviously pretty useful.
I like them when they're kind of like-
Well, financial NFTs and artistic NFTs are different,
but I like the VEs.
I like, I definitely like that.
Yeah, I think that,
I think an NFT is still a pretty useful thing.
So don't just go buy them like crazy.
If you're buying an NFT, be sure to buy one that,
if you just like the art,
just because you just like the art or whatever.
I mean, the community stuff too is like, you know,
it's like, if you, it's the same concept as like,
if you're a kid in school and everyone has like
that fresh pair of Air Forces,
and then you want to get a pair
because everyone else has like Air Forces, I get it.
It's the same thing with like Sonic and a Derp.
Like if you see someone having a Derp,
you're like, I want a Derp, go buy one if you want. But I don't want to
like, think too deep into it. Like this is gonna, I don't think
it's like a life changing decision as people like thought
it was last cycle. I think it's like if you like something, and
it's a reasonable price where you can afford to buy it, you're
buying it, but don't buy anything in general where your
own like you expect to make 100x on something just doesn't make
sense.
Yeah, I mean, stick to lottery tickets
if that's what you're gonna do.
Did you see there was a report on that,
that the odds of winning the lottery are higher
than making money on a pump fund token or something?
I can't believe it.
Well, it depends on which side
of the pump fund thing you are on, right?
I saw something that pump funds numbers
have dropped like insane.
I think they were having like hundreds of tokens graduated day and now they
have none.
Yeah. Well, they were making $3 million a day before. Now I think if you go to the fees,
they're making, uh, I'll tell you what, it's probably still high, but it's definitely not
what it was. Oh, it's way lower. Oh, it's a million.
It's a million a day.
A million a day.
Their net all time fees, $545 million.
So they're fine.
Dude.
Yeah.
If I were them, you know what I would do?
I would say, all right, pump fun.
It was fun.
Now to move on to something completely different.
They are, they have their own AMM now for the fees.
That's it. Yeah. I saw that they completely different. They are. They have their own AMM now for the fees. That's it.
Yeah, I saw that. They completely drained. What was it?
Um, radium radium.
They should have done that a long time ago.
Like once they made the first like 20 million dollars,
the obvious move would have been like, let's just make our own AMM
because technically on the AMM, they could have made double.
So like if you look at radium, if they made five hundred million dollars in fees,
they made five hundred million dollars on radium, too
It's like one to one. Oh
Wow, yeah, that's good point. They would have made a double down. All right, bro
I got a run but it was nice catching up. Good luck. Yeah. Thanks assistant. You take care bud. Yeah, keep building the network, bro
All right
Now let's continue through this thread for any of you newbies out there, you know, let me know in the chat if you want me to
dive in more in depth, maybe tutorial wise on any of these.
But next step, you know, other than buying NFTs, you can swap your S for liquid staking
token.
This will help you get that point bonus as well as any value accrual that will happen
for staking and then any price
appreciation that might also occur or depreciation, but hopefully that's being offset by the yield.
So liquid staking lets you stake your tokens while staying liquid. So you swap S for stake
beats or origin token or angles. See, Lewis is great about this because he's provided
all these options for you. It can't be any simpler. He tells you exactly what you can
do, why you would do it,
and where you go to do it.
He also introduces this idea of going to Spectra with your LSTs
and choosing a fixed rate position,
deposit your OS for more yield.
Something I got to look into a little bit more.
Depositing USDC on Silo.
We mentioned this a little bit earlier in the show,
but Silo, of course, is a lending app
that you can kind of think of it as like a little bank account. Like you can deposit your a USDC there and earn yield
on it just like you would in a bank account. Um, but then you can also borrow against that
asset if you need like a loan. So, or if you're trying to do something a little crazy, uh,
additionally, you gain a drop points. You're going to get airdrop points for pretty much
all this stuff. So you should at least try it all a little bit,
like a once, why not?
Finally, not finally, there's a little bit more,
but you can provide single CID liquidity on SwapX,
swap tokens on Shadow, which you should be familiar with.
We talk about it all the time on the show.
Deposit on rings to get CSUSD,
where you can earn 5.5% APY.
So I haven't seen this on rings.
I haven't seen the APY yet, but I believe Louis here.
5.5% seems about right.
You could also stake your S on MySonic for 5.5%.
It seems like 5.5 is the standard market rate for S
it seems like right now.
Although I guess on rings you're staking USDC and earning 5% on that,
or on my Sonic, you're getting 5.5% on your S.
So really kind of depends more on your risk profile here.
And finally, bonus boosts on magpie.
You saw us last week, Louis, Louis showed us how to do this, how to get those
bonus eggs off of magpie by filling bounties. It's pretty fun stuff
How they gamified it I kind of like the UI
But yeah, it's something to definitely check out guys again if you're asking questions, how do I earn points?
How do I get airdrop points? What do I do on Sonic? This is a great thread. I posted it in the reply to our stream
And I've also retweeted it on my account.
So go ahead and check it out.
It'll change your life, dude.
It'll level you up if you're a freaking total newbie
or maybe even if you're not a total newbie
but it kind of gives you a good lay of the land.
Now, what else do I have in here?
Oh, I wanted to solve this.
There's a Sonic Labs live ecosystem round table
with block mates where you'll see a lot of people
we've had on the show and it'd be a great opportunity
to check this out, show your support,
just learn what's going on.
Monday, March 24th, noon UTC, that's on Monday,
that's coming Monday.
They got Daniele, they got the Pendle team,
they got 24 himself, and they've got the Paladin guy, the Paladin
guy, that's what I call him, and Figme.
Okay, these names, come on, is that your Christian name?
I don't think so.
But no, it should be pretty good.
I'm definitely going to tune in, see what I might have missed. And then finally, let's see,
we talked about the Sonic Labs pay.
I think that's about it.
Oh, there was something else the assistant talked about.
Maybe I should ask him about this while he was on,
but he mentions that you can supply USDC on Aave now
and are 8% plus APR and Sonic points.
So I was like, this is unbelievable.
8% on USDC and I get points.
What's the deal here?
So when you go here to Aave, you check out the Sonic market,
you can see like, oh, here it is, 8%, 8%.
But it's obviously different.
Like what is this being paid out in?
It's being paid out in Sonic.
If you click this link here, it'll explain
like what, where these points are coming from and why the merit program. And then you can
go here to learn more, right? Well, there's a government's forum post. We're not going
to read all this. We're actually just going to look at the board. So you can see here
like on Sonic, right? The only Sonic option here, supply USDCE, 8.3%.
The fattest one on the list.
Definitely something I'm gonna be checking in.
Just tuning in thoughts on the sheep.
I feel like this is some marketing play, I don't know.
Yes, you just lend USDC and you get some Sonic rewarded.
So definitely something, ah, they wrapped Sonic.
So another thing to check out here.
Opportunities are blooming like a field of flowers right now.
It's spring, it's crazy right now.
It's the spring at DeFi on Sonic.
So if you guys aren't, you know, checking your yields daily,
you might be freaking missing out, dude.
It's kind of stressful, but at least check weekly because things are constantly, new opportunities are constantly coming up. Something I've definitely
been focusing on a lot more recently is trying to find the best place to park my USDC because the
market's been so shaky. So I'm definitely excited to see this specifically from Aave.
excited to see this specifically for Mabe.
But you got anything else for you guys?
I saw this.
There's a secret China war.
I thought I had something else that was fun.
But I have this.
This isn't that fun.
I wanted to ask.
Let me know in the chat before we sign off here.
I'm going to sign off right after I ask this question.
Just reply on the YouTube comment section or on the X.
Would you eat the pickle pizza?
Will you eat the pickle pizza?
And if you will let me know.
And if you won't also let me know, this is important market research I'm
conducting on behalf of the Sonic Labs foundation that contracted me to do this.
We got to figure out how many people in the audience will eat the pickle pizza.
So let us know. I want to thank you guys for tuning in and joining will eat the Pickle Pizza. So let us know.
I want to thank you guys for tuning in
and joining us on today's stream.
I hope you had fun.
I hope you learned something.
I sure did.
It was a great chat with the assistant.
Tuesday, we're gonna have the show again.
Should be back to normal.
We're gonna have Drac and me,
tag teaming this thing.
And then next Friday again,
we'll have Luis back for another tutorial session so guys
Thank you so much for joining
Peace out Sonic gang till next time
GM Sonic is horrible and Dracula Presley DMGGMGM
