Hello everyone and welcome to the Cosmos Club. We should be right with you. I believe Stakey is on their way. So just sit tight.
Hello there, Staggy Z and welcome to the space. I believe you have been invited as a speaker now. Are you able to speak?
Hello there. You are able to hear us loud and clear? Yeah, I can hear your playing. Super.
Your audio is a bit, I don't know, there's a lot of noise in the background. Is that possible to lower a little bit? Yeah, I can try this one more. Sure.
Okay, is it better now? Yeah, I think it's better. I think it's better. Super. All right, let's just dive right in. So welcome everyone to the customers' club where we talk about
talk all things Cosmos. We summarize that in a weekly newsletter and then we invite interesting, fascinating, hardworking builders of the Cosmos ecosystem to spaces like these. And today we got Stag Easy. Welcome to the space.
Thanks a lot for having us. So without further ado, let's just dive right in. What is stake easy? What is the SEC token and why do people need to pay attention here? For sure. So stake easy is a liquor string solution currently live on secret and do you know?
And there's been a lot of liquid-saking descriptions flying on in PowerSprose SQL system recently. So, like the most of the listeners must be aware what liquid-saking is. But in essence, it's just when you take your tokens with the one data, those
open yet logged and can't be reused anywhere. So it's kind of creates this choice amongst either you want to use that in D5 or want to save it. The crit-staking simplifies this by letting you use it in both of these things. And we are also one of those protocols that does this.
Yeah, that's the overview stick in there. Super. And once the SEC token then, and I believe also you are a validator if I'm not mistaken. So perhaps speak more to that also. We are not of a data yet. So.
I see it because there might be a weldator, you might spend a little bit of time, but currently there's a weldator and my sake easy. What we do is that we all of the juveniles that's being staked with the protocol, it gets staked to 10 weldators that we have chosen based on different parameters. So if I don't ask
see which are these regulators. You can just go to Juno.stagies.fi and you can see the list of regulators and there's all the information there. And yeah. And the SEC token, what's that about?
So, SZ token is the governance token of STPZ. Currently it can't be used for governance because we are in the process of building the Dow Jones. But once that is finished, the SZ token will have time to be used to share fees with our STPZ.
the protocol is generated, 50% of that will go to the holders of StakeEasy, the SCZ token and the SCZ token holders can also work on parameters of the protocols. For example, one thing that will be the one by the SCZ token is which editor will stay in the set with the level we move out of it.
and we're also exploring ways of how we can further utilize this token, but quarantine doesn't have these function in our business, but now it's being done. Nice. And just to talk users through, so if we haven't seen or used the SE tokens that you guys
issue or mint when you are when staking with stag easy you basically get this let's say you stake Juno with via stag easy you get this SE Juno token which you can go on and trade on Juno swap and I believe you have other partnerships where you can margin trade with margin.
I/O, like there's all these things that you can do with the SC token or SC Juno, for example. So you have SC Juno, I believe you got SC secret also, which other assets am I able to stake with the stake EC? Yes, so these have been like only two
So, the current state of protocol is that it's a contract-based. And so, like, there are two ways any protocol can be implemented. One is that you
And I did cause no cause no was from contracts and deployed to a chain that support cause of losing for example secret does this even during others is and there are also osmosis and I believe others coming which and I think stars also these to have permission version of cause no was so
So the other way to have the different protocol is to the AppChain model, which where you just implement the whole chain itself optimized for that protocol. So liquid sync can be implemented as either a set of contracts or as an AppChain. In our case, it's a bunch of contracts deployed on Juneau and
on secret. And so we first started in December last year building this thing out. And we first started building on secret because we were already building a few tools already as public good on secret network. And once you're building those tools, those tools were just to simplify the development process.
So, if you see, Cosum also message is native name for a framework or a language. And so, whenever there's a native new framework or language, usually the state of coding is not that very good because it hasn't been much time since it's been live. So, first we work on simple
find the two things I said, anyone who wants to develop the contracts is not exposed to much issues and also it takes less time to develop these kind of things. So we first started in September last year building these tools on secret first because at that time,
was done in that had cause and was alive on the minute and in December we started with the development of Stegesian I think in March this year we deployed on secret and we further added a few features to this model and we also added B Juno.
So currently if you'll see you all the SC secret but on Juneau you have SC Juneau and we you know so these are the two options for you to liquid stake and We spent around like two or three months building this out from March till I think and By the end of August we did
So in case of June, also what we did was that we made sure that the newer model is tested appropriately. So around a month and a half, please spend just writing as much as we can and then we deployed on June. Now the next, for example, if you are
why we don't have, for example, liquid state atom. The simple reason is that the liquid state, for example, I would say like stride has a state atom, right? So they were able to do it through inter-chain accounts, which is currently only supported through Appchain models.
but it's not fully supported, I would say, for a smart contract-based protocol. So we are currently building that out and making sure that the length chain that is Juneau is fully compatible with the interchains accounts and then we'll move ahead and also add all of these
state or small you can even request a kd or any native token that has taken rewards attached to it and so that will be the full day evolved version of stake easy so yeah I would say it's a lot of new things
Nice. It's something happened to your audio just here at the end. It sounds like somebody's getting a call or something with a vibrating thing. But I guess while you sort that out for anyone who doesn't know, there seems to be
Almost like a liquid-staking craze going on these days. You mentioned stride. There's a quick silver that's upcoming also using interchain queries and all this interchain account technology. We got persistence, of course. So there's a lot of players in the liquid-staking space, which is awesome.
for especially capital efficiency where you can instead of just putting your assets in a dormant state validator set, you can stake it still but then use it in all kinds of D5 applications for trading, providing the liquidity
like all these different things which is super awesome. As mentioned before, SC Juno, for example, is where I personally noticed it's easy and you can use that on Juno Swap, which many of you are probably aware of. So basically you can take your Juno,
Stake was take easy get the se Juno token and then trade it on Juno swap or add it in that liquidity pool on Juno swap And then further enhancing your your yield based on that. So that's pretty sweet. I would say it's a it's super capital efficient and I want to ask of course what
what stands apart, like how do you guys differ from existing liquidity staking, sorry, liquid staking protocols like Quixel, Stride, Persistence, you name it. If you sorted out your speakers in the meantime, while I was speaking now.
You're still immune to stiggy.
Yeah, can you still hear me fine? Yeah. Yeah. But there's a nuclear, so I can hear myself. Yeah, actually someone was calling me and I afford this connected. Just give me a moment. Sure. Sure.
Okay, I guess you're true.
It's a nice to learn. Yeah, I think I can do. Okay, cool. Yeah, so I would say like for example, if you
look at similar categories of protocols. For example, they didn't use to be a kind of decentralized exchanges at some time and then game units were up and then came a lot of different variations of decentralized exchanges which had their own set of features and some of them had to be featured
that are of real utility for example, curve came up with them all of semiswops that utilizes liquidity in such a way that it's optimized for a particular use case. The assets are packed to each other and a couple of more now like this, decentralized order book-based access. And so I also see the liquid shaking
ecosystem in the similar way. So the first came the redo on Ethereum with the first model that, okay, if you have state that said the main problem is that it gets locked with the better end card views and really the define. So that product was sold by Dino and then came a few other solutions which
added autocomproning to the liquid-staking solution and then came a few which so that okay it shouldn't be the protocol who is just deciding based on it to go in the set let's there be a download the tomato must use it and so on so I also see our protocol adding features to this
ecosystem similarly. So with our protocol what we aim to do is that we just see it from the lens that if you strip away all of the, let's say, the short-term things, for example, the incentives that are used to achieve liquidity and for example,
So you can distinguish between these two things where some things are really common in default protocols which are used to attack liquidity in the short term. But the ones that survive in the long term are the ones that actually have a really core utility.
So that co-utativity and also being better version of let's say the other protocols in the same space. And for example, if you see a uniswap, uniswap just provides you with the ability to swap tokens, but it does that really well in terms of UI
and terms of security and terms of just anyone who just want to swap the tokens to go there and most likely won't get any issues. Our primary goal is that if it wants to liquid stick, they should not face any issues at all and everything should be as much transparent and
as much as possible. So we want to make sure in the long term that we get the liquid seeking right up to the like the minor details of that thing. And the second thing is that in the evolution of liquid seeking, the liquid seeking solution on the token itself that is the liquid state word
For example, for Juno, you get SC Juno. There's no purpose of using SC Juno, if it can't be used in any default protocol. The more utility that token will have, the more customers will come and the more it will be better than others.
So it definitely makes sense to have it utilized in different protocols such as like in Swabs and any protocols or in case of taking leverages and taking long and short position, for example with March and we are going to be doing that soon.
So one thing is just adding a utility to it. Another thing is adding utility to it is that that makes more sense than the other ones. For example, I will give you in case of in our case the reason we added be Juno alongside as you know is that for example if you see so the first use guess that comes is
are okay you can pair up your aci-zuno with Juno and using this liquidity if Anum wants to unstake immediately they can just sell their aci-zuno and buy Juno so they won't have to wait 28 days so that's a really good utility but on the other side those people were providing liquidity are facing a fix
impermanent laws in the long run because SC Juno is auto compounding and increasing in value in comparison to Juno. So similar is the case for all of the liquid sink for sticking solutions that have this auto compounding model attached to it. Same is with STI term, same is with STD and
So we came up with this solution where like it's sort of similar to what Lido did on Ethereum with B Luna and ST Luna is that you can swap with B Luna and ST Luna immediately without any EMM. So the purpose of B Juneau is that if you provide liquidity for B Juneau
Juneau Juneau. Since be Juneau is always going to pack the 1-1 with Juneau and once you hold any be Juneau you can come and manually claim your statement votes but if you provide liquidity for be Juneau Juneau pair you won't get any permanent loss because it's always going to 1-1 pack and if it's not 1-1 and pair the Sennabitra's opportunity.
So, yeah, coming back to the slide. What our focus is that we provide DFI utilities, but those DFI utilities can be optimized further and that's what we are going to do. So, it makes more sense to provide liquidity with BGNO Juno pair because you don't have any permanent laws.
But if you want to let's say use this liquid state, Juno as a collateral on a landing protocol, then it makes more sense to provide it with AC Juno. Because now there's no such thing as in power and lows in this case. And with AC Juno, if you provide liquidity with AC Juno to landing protocol, now you're sticking it
are also getting auto component and once you retrieve that collateral back you also get the signal worse with it. So, these what we see is that not just providing the defa utilities but the defa utilities that makes more sense in terms of yield and in terms of how users are going to use it.
Nice. And just a quick question that I've been getting from the community. Is it possible to move tokens, they would take tokens like, is it Juno or whatnot? Between chains, so between, for example, Juno and secret network? Yes.
So currently you can move your SC Juno to osmosis already. There's a delay already established with different and that osmosis provides. So if you go to osmosis you can see in the asset list you can see SC Juno and Bjuno. Once you deposit there you can just move it from
on Junot osmosis. So the same layer, the underlying tech, we have also implemented to connect secret and Junot. But we are currently working on the front end that lets you have it. So for example osmosis has this front end as part of their application. But the same front end you don't have for secret and Junot cause no one else is built in it.
So we already did test a couple of weeks ago when we transferred some SE Juno from Juhu to Secret through IBC. We also have those assets handed on my scan. So once our UI is live, which is expected to be ending in a week, yeah, most lives
with the state of it, it's half way there. So with that, what you will see is just one interface for all of the IBC transfer. So you can see that, okay, I have some ECJU, I have some EC secret, and I want to move it between Osmos and Secret or Juno. So you can do that with this one centraflic.
So that's the current state of it. Nice. And you mentioned osmosis a few times now. So obviously I can't help but ask the question, are you going to open up the option to liquid state with osmo as well or? Yes, so we can do that but
Like again I mentioned that there like so one way to liquid shake Osmo is that we also deploy the same contracts on osmosis which will take which is permission so we will have to like pass the governors more than have a sea Osmo and B Osmo but the other way that we see which makes more sense
for us and also in the long term is that once Intelli-Countis enabled on Juno chain, then the Juno chain will be kind of this like we're sitting here for Stake Easy. And so the user just have to move their item or osmo from their chains to Juno and then just deposit that with Stake
easy and it will provide you with the liquid state version of that. And so there will be just one single interface where all the users were having the different assets come in one place. And so that makes much more sense in terms of security because like it's just one contract which is a
essentially connecting all of the other chains and also makes sense from UX perspective because it's just one app where like you can liquid state all of your tokens. For example, like osmosis front end is just one app where you can deposit any of your cosmos asset and that's why I've written take that as a back.
For example, you may have some atom on a cosmos app. You bring that to osmosis. You swap it with Juno and then you send Juno back to Juno chain. So it's just one interface to do any swap you want. In our case, since there are two contracts, one on secret and one on Juno. So they're like two different
interfaces, UIs. So if there are like four or five different contracts, then it will be four or five different contracts that you will have to make sure working fine and also four or five UIs that working fine. But here if we just enable all of these requests, they're said to by using
you know as to how, then it will be much more simple for the user and much more simple for the secure device that works. Nice. Awesome. And I think especially Quicksilver, perhaps also strides, is getting a lot of attention these days. Quicksilver
mainly because of them using it to chain curries and it's a chain accounts, which people are very excited about, stride because I think they have a working product. They got Adam, I think you mentioned also, they got stars and I'm sure they're adding other assets as well. What would you say is like the main difference between you and those two?
So first the main defenses that we are based on Spark contents and not based on the Appchen model. So both of these models have their pros and cons. Well, if you look at the Appchen model, but power it gives you is that you have the control over change.
So, if anything goes so for example, you don't have any other protocols built on top of that chain. So, all of the transactions that are happening on the chain are just for liquid shaking tokens. So, if any there won't be a case where like this an after drop happening and the transactions are too much that the chain
is now in the load. So those kind of things doesn't happen at the chain model. But now that you are building the chain itself and the protocol, now you will have to bootstrap the well-ditter set. You'll also make sure that the update is at the end of time. You as a developer team are responsible for making sure that the chain
and the protocol both are being updated. So kind of like you would say like the development effort is two or three times. In our case, since the chain is being built by the core one team that is the development in the hands, you know. So those guys do already great job because like they have the latest cause of
So I think they are also soon going to move into the one part one, which is the latest version that this got released last month. And so there will be the first one to actually have that in production. So those things are taking care of by them and they are the much more of an expert than we are in building applications. And so we as
protocol developers are safe on that and we know that the underlying chain is going to be as secure as it can be. And we can just focus on making sure that the protocol has the features of liquid sticking that should be there. So we have this one focus and we can utilize our time better in that way and give
given the fact that since the underlying chain has been handled by the core of PostMOS developments, so we can expect higher level of security in this case. - Nice. And I'm getting a question just backing up a bit in terms of air drops. I'm getting a question from the community.
If I stake my Juno or Secret with Stag Easy, I'm still qualified for Adrops that will be promised if I just stake Juno. I believe one of the big things about Quicksilver and using it to increase is that they are actually able to do that.
stride is not able to provide so guarantee that you will be able to qualify for an adrop. Is that possible with stay Geese if I stay with you guys? So this question is I would say an open-ended question where no protocol has a definitive solution.
solution here, we also don't have a different solution with. The reason for that is, for example, you are some project, let's say, project X, and you are building some protocol, and you say, okay, we have taken snapshot, and we are going to a drop-in or drop-in in a month for all of those people who have stayed there, Juneau, at this particular date.
But happens is that once you so if you are just taking your token without any liquid signal solution involved The chain snapshot will have your address. Let's say you are staying 100 June so there's an option will see 100 June or State by this address so you'll get the air drop for 100 June or State but if you still liquid state
this which could be any liquid sugar solution. What will happen is that all of the liquid sugar solution will do is that it happens to a contract or a chain or basically the middleware is just one address. So the user sends the token to somewhere and that takes, so that could be a, in our case it's a contract.
that contract takes that amount for all of the users and just takes it to the underlying relative. So the relative see just one address, which is the contract address that okay this address is staying all of these tokens. So it might look as that okay it's available because it has stayed 300,000 Juneals but it doesn't
showing the snatcher that it's not a veil, it's a liquid-synced solution. So it's on the one who's giving the interrupt to decide whether they want to further break this down into individual addresses of the liquid-synced token holders, which is not directly post-synced right now. So the one way we are going
to make the same thing is so first thing it it definitely requires is the coordination from the end of projects that are air dropping so you as a protocol don't know which projects are going to be air dropping like that could be a number of air drops that are just going to be announced that in the end you can't keep up
with all of the announcement. So in our case, what we'll do is that we'll provide first we'll try to coordinate with as much projects as we can to have our user base also included in that. So as I mentioned that this one contract state all of this to the weldators.
So what we know is that we can also take one more snapshot, which is snapshot of all of the SEC, SEC, SEC, no open holdings. And we would say, okay, this user holds 10 SEC, you know, and that corresponds to let's say 11 June, being state of the chain by this user. So in our snapshot, what we'll do is that, okay, we have documentation where
any project can come and download our snapshot which is a snapshot for liquid stake jr. and add it to the already taken snapshot by them and remove the liquid stake contracts and risks. So that can work if protocols are aware such a thing is possible but that definitely would
take time for being mass adopted. Because first, if you say, let's say an year ago, I don't think that most of the protocols owners would know how to take a snapshot. But now it's pretty easy to take a snapshot. We can also download it from different weld details. So it's now a common practice. That's why it's pretty
easy to do. So, same way what our goal would be is to make this also common practice where any snapshot taken also include the liquid signature snapshot also. So, that becomes a norm and then it can be a definitive solution. Nice. Awesome.
We are approaching the end of this space, but is there anything any alpha that you want to spill? It's possible to to the community here. I believe you already mentioned a few things about Osmo about other things, but anything else you want to leave us with? I would just like to mention one thing then.
I think we announced a couple of weeks ago that we'll also be air dropping the SCZ token to Junos takers and secret takers. So that snapshot was taken some time ago that I can't reveal which data it was yet. And so that air drop claim will soon be happening in a couple of
months and so if you maybe have some June or state already already secret state then you might want to keep an eye out for that other than that there's a lot of UX improvements coming soon enough in RF so one one thing I'm really excited about is that for example
example, if you have liquid-saking, for example, in case you have a C-Juno, you as a user don't directly know that which utility is our present. Like, for example, if you are not familiar with Osmos, if for example, you are a user who's coming from a centralization exchange experience, you might be familiar with
that you know networks so you know okay there's a june swap that I might provide liquidity for s e june or june or swap but you might not know that you can also do that on those courses so what we'll do is that will provide just one simple one page UX which lists out all of the different activities you have for them for the
So, you do as he says, I will come and say, I will stick my edge, you know, whatever I do with them, just tell me. So, we will tell you, okay, these are the bunch of opportunities, the opportunities you will have. And here's the expected API for each of them. And you taking it to one step for other is that you don't need to
go to these protocols and understand their UX. We have abstracted that away into our app itself. So you just come and say, OK, I want to provide liquidity for Juno sir. You just do one click on our app. And it's done. If you want to say I want to lend it out on some lending protocol, then it's also just one click on our app.
You need to understand the UX of different protocols to utilize that. So I guess we'll be the first one to actually implement that on the scale. And that's also coming pretty soon. I'll say in a month. Yeah. Nice. All right. Well, thank you so much for coming on and joining the Cosmos Club today.
And for everyone listening again, we got many other spaces lined up, so stay in touch. Thank you so much for coming on, Stiggy. You see? Yeah, thanks a lot for having me and it was nice London. Hi, take care, man. Okay. Bye. You too. Ciao. Yep.