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Dogechain Round Table #29
Recorded: March 24, 2023 Duration: 1:55:00Space Recording
Full Transcription
So, I'll see you here.
And so, I'll see you in a bit of a
I mean, I don't think, I mean, I knew when that was happening, when the stable coins were crashing,
we all kind of, I guess for the most part, had a feeling, okay, they'll probably come back.
But after seeing what's happened with a few other projects, cough, cough, luna, it was definitely a little scary.
I can't say I didn't bat an eye when that was happening, but it does feel good to see those coins back up to their peg.
Well, we can say that one thing that was scary is that it was USDC, and USDC is plugged into almost every, you know, DeFi,
if not every DeFi protocol that there is out there, whether it's on Ethereum, Polygon, everything that actually works and is important in the DeFi space uses USDC.
Just really quick, while you're speaking, I'll let you keep going, but let's bring Samip.
He's actually my co-founder at QuickSwap, and he had a lot of insights.
Like, he was one of the main guys when all this USDC collapse was happening that I was calling and like,
hey, dude, what, like, what does this mean for DeFi?
Like, you know, we have a lot of, I mean, we have on QuickSwap, on Polygon, we have, you know, I don't know,
10 million, 20 million a day in USDC volume or something, I don't know, a lot, you know,
and a lot of our pairs are pegged to USDC, our biggest pairs are like ETH, UFTC, Matic USDC, Matic ETH,
so two of our three biggest pairs are combined to USDC, so what does that mean to our exchange if that collapses?
What does that mean to, what does that mean for like Aave, and what does that mean for like the GMX Perpetuals model,
which is, which QuickSwap is launching soon too, like, what does this mean for all this?
USDC, and it showed us it's too big, it's too big to fail right now, so we have to move away from having it so big.
One thing I will say about that whole episode, Brock, is like, the industry kind of had a come to Jesus moment during that,
like, that was like dark, that weekend when that was going on, people were really genuinely scared,
and I was really, really pleased to see that, you know, a lot of the inflows,
the outflows from the stables flowed into Bitcoin and ETH,
and I think that was a moment where everything could have come crashing down,
and people were like, when that was going on, people were like, okay,
I'm just going to hold the majors and, you know, like, ride or die, essentially,
and that was a really cool moment for the industry, because a lot of capital could have just fled,
you know, gone to centralized exchanges, been withdrawn into US dollars,
or whatever, so it's really...
Well, where do they even flee to? I mean, I don't know, like, yeah, you're right,
it was cool to see, but in reality, like, there is no safe haven.
Look at bonds, man, bonds are the cause of the collapse of the stables.
We've got Deutsche Bank today as well, Deutsche Bank.
Oh my god, yeah, I just saw that.
Like, what, so, where do you flee?
Like, stables are collapsing, you, you know, you can't go to the banks,
they're collapsing, centralized exchanges are collapsing.
I think, really, like, this is where I say, Bitcoin is my stable coin.
Yeah.
I mean, that's the most stable.
It's like, it's really exciting to see that that was the reaction of the industry,
and now, it's not just the reaction of our industry,
but it looks like it's the reaction of finance in general.
Like, as these banks are going down, like, we just said,
last week was a record-breaking week for Bitcoin spot volume,
like, the most in history, and it's, like, in a bear market, too.
Yeah, and that shows you a lot about the price.
I noticed, I noticed, I noticed, by, I was noticing very similar,
I didn't know we broke a record, but I was just looking at the volume recently,
and it was, like, as high as, like, when we were hitting 69K.
It's, it's, it's over that, I'll, I'll send you some stuff in a bit,
but, but, yeah, like, this is the whole point, like,
the, it's not just our industry that was, like, flight to safety is now Bitcoin.
It was also, it's now people from traditional finance who are thinking like that,
which is really exceptional for the industry,
because you know how this works.
It's, like, Bitcoin's, like, the gateway drug.
It's, like, you know, people come into the industry, like, okay.
I would argue, for some people, yeah, for sure,
but I would argue that probably, like,
one of the main gateway drugs to crypto is Doge, actually.
Yeah, yeah, yeah, yeah, yeah.
Like, so Bitcoin is more the, the, the gateway drug for, like, institutions,
and then, and then maybe they go from there to, like, Ethereum,
then maybe Ethereum, maybe they think about Doge,
but, like, for retail, I would say the gateway is more Doge,
but, like, yeah, now that Bitcoin is succeeding so much in, like,
the face of adversity, maybe we'll start to see it shift to Bitcoin being more of a gateway.
I don't know.
Well, it's like, you look around, you see this, like,
you see this flight to safety, and then the, the first step is, like,
okay, I've got my funds out of Silicon Valley Bank or whatever, and I'm safe.
And then when you're there, you then look around, and you're like,
holy shit, there's so much innovation in this space,
there's so much going on.
Maybe some of this capital should actually stay here,
because it's an amazing space.
It's, like, millions, not millions,
but there's hundreds of thousands of startups,
even during what was considered to be, you know,
a bad year for crypto last year.
But still tons of innovation, still tons of startups,
amazing BD partnerships going on across Polygon,
more broadly, and just the ecosystem in general.
So, pretty crazy.
Sameep, I've made you a speaker, if you want to weigh in on any of this.
Yeah, Sameep, I want to hear your take on, like,
USTC and what it means systemically.
If it were to collapse,
what does that mean for all these other stablecoins
that are based on, that are pegged,
or, like, backed by USTC,
and some that are, like, quite decentralized,
but still pegged to USTC, like...
I'll talk about it.
You're calling me.
But, yeah, Sameep, I want to hear from a more technical side.
Yeah, yeah.
Yeah, sure.
I mean, like, before that, like,
Binance spot trading was basically stopped.
I just saw that, you know,
and DEXs was still on.
Like, you can still trade on QuickSwap, Unicef,
and so, like, that's the power of, like, you know,
DeFi and decentralization.
And that's why I think people are, like,
moving towards DeFi more.
Like, we have seen, you know,
like, volume on DEX go exponentially higher
since the FTX collapse, right?
I mean, I was just looking into some stats the other day,
and, like, the volume on DEX,
like, DEX versus SEX volume,
like, I think DEX is going to beat
centralized exchanges in not more than
next 6 to 12 months.
Man, that's, like, amazing, interesting.
Yeah, I mean, like, when it comes to
stablecoins, like, specifically USTC, right?
So, all of DeFi right now
either works on USDC or USDT.
Like, I would argue it's more on USDC than USDT, right?
Like, I am kind of USDC guy, right?
So, like, what happens if it fails, right?
So, technically, like, if it defects, you know,
all the protocols out there,
like, every single DeFi protocol in the world,
including Aave, Compound,
specifically lending markets, you know,
they will go down because all lending markets,
like, technically, they support 80%
of borrowing power on USDC, right?
That's too much.
So, even if it defects by 10%,
you know, like, most of the positions
will get liquidated over there,
like, if it's 10 or 15%.
And I think that's when, like,
a lot of liquidity providers on Aave,
like, who have borrowed a good amount,
they basically panicked as well.
And we saw even, we saw some liquidations
happening on these protocols, right?
So, it's going to be a massive blow.
And when you talk about some of the protocols,
they basically take USDC as $1,
like, for granted.
Like, in a lot of V5 protocols,
they even reached out to me that
we are doing this,
and we never thought that USDC can go down.
And now...
We were too.
QuickSwap was.
I mean, QuickSwap only on analytics.
It was just...
We were doing it on the analytics side.
Yeah, it was just for display,
like, the display on the analytics.
It wasn't...
We had no smart contracts or anything based on that,
so we were, like, protected.
But it looked funky because, like,
it was showing the price of, like,
ETH going up even more than it actually did
because it was basing it on USDC,
and USDC had dropped,
so it was, like, messing with the analytics.
So, but, yeah, there were other people
who actually had their protocols,
their liquidations, their oracles,
and things actually based on USDC being pegged at $1.
Now, maybe, yeah, go ahead.
Let's explain more soon.
Yeah, I mean, like,
and it's specifically, like,
in the options market, right?
Because, like, I'm working a lot
on the options market,
so there are, like,
quite a few, like,
options protocol out there
who basically just assumed that
USDC will always be $1,
and, like, their protocol
was designed in a way, right?
So I saw, like, a lot of, you know,
put options, call options being called,
but they were actually not called
because USDC was, like,
thought to be $1,
like, whereas it was $0.88.
So, like, a lot of disputes arising and stuff,
so these protocols had to change
their structure, their architecture,
they had to change their oracles,
and a lot of stuff.
So that was pretty bad.
Like, just assume, like,
all those, right now,
like, option industry is not that big
in DeFi, which was good,
I assume, like,
but I just think, like,
what if this industry
was a $1 billion industry
or $2 billion industry,
and this happened, like,
that would have been a mess,
a disaster, right?
So they were able to do it
because it was, like,
in a few millions,
so nobody looked into it.
Nobody knew, like,
this happened on those protocols, right?
So that was pretty, like,
I would say pretty bad.
Like, that's why, like,
even on the analytics side,
like Rock said on QuickSwap,
we were showing everything
on USDC, right?
That's where I think,
you know,
specifically in DeFi space,
we should stop displaying
things in USDC
because when we do that,
like, we are again
watching towards
the fiat currency.
I think we should do
either on BTC or ETH, right?
Then we will actually realize
whether the TVL,
the volume,
the fee, like,
is it actually going down
in the mere market
or it's going up, right?
Like, you guys said,
BTC volume is all-time high,
but that's all-time high
in USDC, right?
But what if, like,
if you see that in BTC,
I think that's almost
2.5 times
than what it was before, right?
So I think that's
how we should start
looking into it,
like, analytics,
all those numbers
in BTC and ETH.
Like, BTC and ETH
should be the stable coins,
not USDC because,
or, like,
any other stable coin
out there because
I think in future
we'll see more,
I mean, like,
we will not see
fiat stable coins
because until and less,
like, there are
fiat stable coins,
we are still dependent
largely on,
you know,
fiat currencies
and, like,
we are still,
we'll still be affected
by all the inflation,
like,
like,
Feds printing
4 trillion dollar,
like, what,
I'm not sure,
like, what the exact number
is, like,
our economy,
our analytics,
our prices,
all will be affected
by that because
we basically show
everything in US dollars,
like, or in Euro,
like, any stable coin.
So I think BTC,
it should be the stable coin,
like,
specifically for this industry,
these should be the global,
global tokens out there.
If we still use USDC,
I'm not sure, like,
what's,
what's going to happen
in the future
because more banks
can collapse,
bonds can go down,
like,
anywhere that circle
is putting money,
like,
still associated
with the government,
like,
still associated
with the Fed high rates,
with inflation,
right?
So that can,
like,
go down anytime.
You never know,
like,
what happens.
Yeah,
that's a good point,
especially right now
because BTC
is significantly lower
than its all-time high
and we know
from every single cycle,
BTC,
Doge,
Ethereum,
we have a very high probability
that those will exceed
their previous all-time highs
during the next bull run,
which we have a very high probability
of happening
within the next two to three years.
And so just based on that alone,
it does seem like
it's significantly better
to hold BTC,
ETH,
Doge,
other top coins
rather than just simply
having your money
sitting there in stables
losing 6% a year
because of inflation,
which is a little annoying
unless,
of course,
if you stake,
you can make a little bit
of that back.
But still,
it's much better
to hold BTC and ETH.
But if you are really worried
about the market
and you just want to have
a super,
super safe place
to put your money,
there's one thing
that I'm 100% sure
to recommend
and that's,
of course,
Jim Cramer's picks.
The guy's never wrong.
Every single pick he makes.
You're good to go.
There's another point
on this as well.
So we've had,
you know,
a year essentially
of the Fed hiking rates
and tightening monetary policy.
And last week
and just a little bit
of this week as well,
I think the numbers
are now 70% of that
has been undone
if you look at the balance sheet.
So it's like
they tighten
and they crush the markets
for a whole year
and then,
you know,
like 10 days of panic
and you end up
with like it all
going out the window,
you know.
So it kind of shows
you're like...
They've been trying to force
unemployment
and hurt the economy
for all this time.
By the way,
it goes all the way back
like they closed
the economies
because of COVID,
right?
They forced us
to stay indoors.
Some of my family members
went,
their businesses
that they had
for 30 or 40 years
had to go bankrupt
and their companies collapsed.
I mean,
so all this they did
to give you $1,200 stimulus checks.
I hope it was worth it.
And then to try to fix
the massive inflation
they created
from those $1,200 stimulus checks.
Plus, by the way,
massively more.
It was like 15,000
on top of that
that went to PPP loans
and businesses.
Only a small part
went to the people,
$1,200 per person
or whatever.
So then they make
all this inflation
and then to fix
the inflation
they start massively
raising rates
very fast,
fast as they've done
in many decades.
They purposely make
their new mandate
to crush unemployment.
That's the new Fed
like mandate now
is crush employment,
have higher unemployment
because,
well,
they don't want inflation.
What do we do?
Let's make people's wages
go down.
Average wages go down.
Let's crush their wage growth.
Literally,
this is what the government
is doing.
Let's crush their wage growth
that's crushed jobs.
That way people spend less
because that must be
what's creating inflation.
I don't think they're stupid.
I think they're evil
or they're like,
they don't care
and they want to be able
to print lots of money.
So their story,
instead of saying,
look,
we printed too much money,
we were irresponsible
and now they try to blame it
on too high of employment.
I mean,
like what world
are we living in right now?
And then for a year
they attack
the everyday Joes
and people
trying to raise
unemployment
and all this
and then they get
where it seems
like maybe
they're making progress
on inflation
at the cost
of the everyday man
and then now
in just 10 days
to bail out the banks,
not the everyday man,
to bail out the banks,
they have to crush
the little man
even more now
by printing massively
more money
which will create
more inflation
and then they'll have
to do this cycle again.
I don't know
what's going to happen
with it.
It's pretty scary.
I would say
I don't want it
to end this way.
I don't want to see
Bitcoin go to a million
like Balaji's bet.
I don't want to see
Bitcoin go to a million
and see everyone I know,
all the regular people
out there,
my family,
my friends,
the rest of Americans
and the rest of the world.
I don't want to see
everybody's lives
collapse violently
and painfully
and just to see
Bitcoin succeed.
Unfortunately,
I can't make bets
on what I would like
to see happen
which is a slow transition.
I have to make my bets
on what I think will happen
and I'm very worried
that that is how
things are going to play out.
I don't know
if it'll be this year.
I don't know
if it'll be in a decade
but things,
I mean,
the financial system
looks incredibly fragile
right now.
And probably,
if we want to pinpoint
when that could happen,
if we look at around
2033,
2036 area,
that's when we're
expecting Social Security
to potentially go belly up
and a lot of the payments
the government
has promised people
to completely go out
the window.
So I don't really see
any way
the economy survives
in any serious fashion
beyond the next 10 years
considering the massive
amount of debt
and the fact that
there's literally no plan
and we now have
a president in office
who's running
an absolute master class
on how to not
handle an economy
and Trump spent too much
Obama spent too much
the president's
before them spent too much
but I mean,
the idea
that you can now
be the Biden administration
and say,
all right,
we're trying to be responsible
now,
we're trying to fix things.
Dude,
you just spent
like 11 trillion bucks
in the debt.
You're not responsible.
Well,
what are you doing?
I mean,
it's very sad.
Man,
you should try Europe.
I mean,
over here,
so in Ireland right now,
the income tax rate
for anybody earning
above about $40,000
goes between about
45% and 52%
because of that.
Yeah,
a lot of that
gets to go into the fact
that,
you know,
we have a lot
of social security systems
but the problem is,
I mean,
so in particular in Ireland,
all of that
has been paid for
essentially by people
who are working
for multinationals
in Dublin.
you know,
multinational in Dublin,
we've got people
that are coming out
with,
you know,
about 200 grand a year
but then they have to pay,
you know,
110 grand out
or whatever in taxes
and here's the issue with it.
I think that gilded age
of like,
you know,
multinational development
corporations
like say Google,
Facebook,
any of the fangs really,
it's probably coming to an end.
Like a lot of them
had to lay off,
you know,
a lot of people
from,
you know,
the pressures
that have been put
on the market
in recent times
but I think a lot of that
is going to switch over
now to essentially
more of fintech style
when crypto comes more,
you know,
kind of mainstream
which I think
is kind of happening,
you know,
right now
and essentially AI.
With AI,
we're seeing,
you know,
single developers
they have to output
200,
300% of their normal workload.
We do not need
as many staff anymore
and with...
Bro,
bro,
bro,
bro.
You know,
we were going to talk
about this
on the Polygon
All Roads Lead
to Polygon
but we ran out of time.
You've got to talk about this.
I don't know what,
I guess,
Matt,
did you have anything else
you were saying there
because I love hearing
your take on this
pretty good,
especially for your,
you're a pretty young guy.
How old are you?
You're like,
you're like in your mid-20s,
man.
You got a pretty smart,
like,
understanding of all this
for such a young guy.
Believe it or not,
I'm actually 69
so a lot of people
wouldn't expect that.
I have a really good face care routine
so that's how I've been able to...
But no,
yeah,
my take on that overall
is just that
most people are brainwashed
into believing
other side bad,
my side good.
Most people are brainwashed
into believing
my media good,
other media bad.
And everyone thinks
their media is telling the truth,
other media is lying.
When in reality,
everyone's just trying
to make money
by saying the most
sensational things.
Everyone's making money
by hating their side.
And as a result of that,
you can now get away
with spending
insane amounts of money
without your own side
calling you out
because they're more scared
the other side may win
if you get upset
at your own side.
And so it's led
to this extreme
unaccountability
with politicians
which has then led
to these trillions
in dollars
that continue being spent
into debt
to the point where
we really have never been
in this territory before
as a country.
I mean,
you look at World War III
and the possibilities of that,
that's scary.
But if you look back
to World War II
and the spending then,
even in Obama's
first year of presidency,
his first two years,
he spent 10 times more
adjusted for inflation
than what was spent
during World War II
in terms of additional money
going into the economy,
which was one of the
irresponsible
iceberg tipping points
because I think we really
could have been saved
after that.
But then since then,
we've added,
when Obama first took office,
we had 10 trillion
in debt approximately.
Now it's at 31 trillion
in just that short amount
of time.
And so you have to be scared.
I mean,
you really do.
And that's one of the reasons
why I agree with you.
Cryptocurrency
is definitely a very good way
to be looking.
When you look at...
Crypto guys are playing
the role of whistleblower.
That's why they are
behind crypto guys.
Like, man,
getting behind Coinbase,
one of the only company
who's regulated
in this industry,
man,
that's bullshit.
Completely.
They're shaking
in their boots.
Go ahead, Owen.
And just like,
the only way
that this can go
is like,
it has to go
to Bitcoin
or some form
selling money
because as Matt said there,
like as I was finishing off
on my bit of a thing,
but you know,
Ireland's essentially
surviving off the back
of, you know,
American multinationals
who set up in Ireland
in order to get low taxes
originally,
but well,
neither here nor there.
But the problem is
when that money goes away
and it will go away
because there's already
massive layoffs happening,
how the fuck do you support
our social security system?
It is completely unaffordable.
Especially when they run out
of the ability
to print money.
Pretty much.
When people start having
the ability,
like, by the way,
you were talking about,
you know,
sound money,
like I think Bitcoin
is the most sound money.
Yeah.
But I would say like,
by the way,
unironically,
Doge is better sound money
than any fiat currency
on the fucking planet.
A hundred percent.
Yep.
I like the way you think,
Rock.
Also,
I got my baby crying,
so I'm going to get off the space
and go take care
of some daddy duty,
but good spaces today.
Yeah.
Congrats again on the kiddo.
How old is it?
I forget.
Is it a he or she?
And she's actually,
believe it or not,
today just turned six months.
Nice.
Congrats, Matt.
She'll hopefully grow up
in a world of better,
better money supply
where her wages won't be
like obliterated
by government,
irresponsible spending.
All right.
Thanks, Matt,
for coming, man.
Appreciate having you here.
Always.
Thanks.
All the best, man.
So like,
you know,
by the way,
like what Matt was saying,
I think like one of the root problems
with all this is like
in democracies
and republics,
which America is like
a blend of both,
you like you either
if something's too much
of a direct democracy,
they'll just vote
to get the money
from other people
to themselves.
That's one of the dangers
and in a republic
that,
you know,
where you vote for people
that will make the decisions
like that are supposed
to be a bit smarter
and understand the issues better
than they get corrupt
and they print,
you know,
the money to give themselves
or vote for your tax dollars
to go to their,
their things that are good for them
or closest to the money faucet
like the Cantillian effect.
And then like additionally,
you have the problem
of like four-year election cycles
is a huge problem
because like,
look,
whether you're a Republican
or Democrat,
right,
Republicans are supposed
to spend less,
be more responsible,
but like we saw,
like Trump actually spent
a ton of money too,
but like what are you going to do?
You're,
you put your,
put yourself in like Trump's
or any,
any president's shoes
that gets elected.
You have to get reelected.
How do you get reelected?
You got to spend a bunch of money.
You got to buy a bunch of votes.
You got to stimulate the economy.
You got to tell Powell,
Hey,
don't be raising those rates.
You got to belittle him
if he does,
because if you raise the rates,
it hurts the economy temporarily.
And that's all you care about.
You're not looking at 10 years
down the road
or 20 years down the road.
Like maybe like the CCP
might be looking,
you're looking at,
I'm,
I'm getting reelected
in four years.
I need to,
I need to boost the economy now
or I'm not getting reelected.
it's a weird system we're in.
I think getting rid of,
like,
I don't think Bitcoin
completely fixes the tax
like incentive problems
that I just discussed,
but at least it fixes that,
the letting them print money
at whenever they want.
And then that just inflates
your money away,
which is a,
a hidden tax basically.
I mean,
which is why we're able
to have so many wars
so easily now,
because like if you,
if the government
had to go to you
and ask you,
Hey,
we want to go to war with,
you know,
we want to support Ukraine,
or we want to go to war
with Russia.
We want to go to war
with,
you know,
Afghanistan or whatever.
If they had to go to you
like they used to
and say,
Hey,
we're going to raise taxes
to fund this war.
A lot of people would go
tell them to shove it.
Right.
So when they have,
when they can just print money,
they can have wars at will
and they use those wars
to protect the U S dollar
and to protect other currencies,
you know,
or their energies
and all this.
so like,
I think if we can have
a better sound money
and just a free competition
for whether it's Bitcoin
or Doge or Ethereum
or even a CBDC or whatever,
let them compete freely.
and then like take them,
the ability for them
to have these monopolies
and just print money
at will to wage wars
and,
their own like fun political,
you know,
pet projects out of their hands.
All right.
That was a fun rant.
It sounds like you're,
it sounds like you're arguing
for totalitarian,
that totalitarian dictatorship,
right?
Let's eliminate
the four year election cycle
and just have one.
I mean,
it's look,
look,
it's the best system
I think we have.
I think the,
like the American system
is the best system
I think we have.
I think there's,
it's not,
I think there will be better.
I think,
you know,
I was discussing
in East Dubai
with a group of guys
that are building,
like basically trying
to build virtual nations,
kind of like what
Tim Draper talks about.
by the way,
I just told Tim Draper's
Dragon Fund
about Doge Chain
the other day.
but like,
yeah,
Tim Draper talks about
these virtual nations
and,
basically like getting rid
of like physical states
and countries
and borders
and eventually having
more like DAOs
being these virtual countries.
but anyways,
so like one thing
I like about America
is that it is
the most decentralized country.
I think that's what
makes it strong
that you have,
you know,
the,
the Senate,
you have,
the Rep,
the House of Representatives,
you have the White House,
you have the Fed,
you have the Treasury,
you have the 50 states
protected by the 10th Amendment,
to have their own laws,
you have the city level
municipalities,
et cetera.
So like America
and,
you know,
the Supreme Court
and all the different,
like courts.
So you have all these
separation of powers
that makes it harder
and harder to change things
or move things quickly,
which is like,
kind of like you look at Bitcoin.
It's very hard to change,
but at least,
you know,
you could count on it,
and that it'll stick to like
the original values
to an extent.
America has tried to stick
to hopefully our values
and our constitution
and things pretty well.
Obviously we're not
completely there
and they've,
they've definitely,
like pulled away
from those things
and done some crazy
things over the years,
like,
Patriot Act spying on us
and all these other
crazy things.
But,
it is still the best system
I think we have.
America is a great
shining beacon of hope
for,
for the world
and I think,
Americans should embrace
crypto because like
they should understand
how important
decentralization is
because our entire
country is built around it.
I saw,
recently that the,
the SEC has filed
kind of a warning
statement about crypto
saying that it has like,
I think that it was,
it's dangerous,
dangerous speculative
and it has no value,
something like that.
And the phrase that came
to mind was,
I think,
from one of your presidents,
which is like dangerous
liberty is better than
peaceful slavery.
And,
yeah,
sometimes some things
that you like pick
when you're looking at
cryptos,
sometimes it'll fuck up
or the dev team will
leave or whatever.
but if you write on
the general space
and the movement
of the capital flows
into crypto in general
and you stick around
long enough,
you'll probably be
much better off
than if you just
ignored the space
completely and end up
being taken by surprise
by it.
I mean,
like,
you know,
it has been the case
that if the,
the best time to get
into crypto was during
the last cycle,
no matter when you
joined essentially.
And that remains to be
the case today.
So if you just joined
in now,
if this is like the
first thing that
you've ever,
don't encrypt always
just joined the
Twitter space randomly.
You've got a lot of
reading to do,
a lot of research.
but one thing I will say
is if you stick around
for long enough,
you won't regret
the decision.
the saying is when
people ask when,
when should I have
gotten into Bitcoin
and everybody says
like 10 years ago
when it was launched,
of course,
but the second best time
is always today.
So as soon as you
can get into,
into Bitcoin
one plus for you
and,
a minus for the banks.
Yeah.
The best time I like
the phrase,
the best time to
plant a tree
is yesterday.
the second best time
is today.
So it's not too late.
A lot of metaphors
on the space right now,
but yeah,
like the,
the general,
the general sentiment
is spot on.
Owen,
I don't know if you,
you did this.
I was just away for a minute,
but,
did you cover the chat
GPT stuff?
By the way,
let's bring,
Patrick,
but we'll,
we'll have,
Owen talk about that
because it's really
crazy,
interesting stuff
he was talking about.
but if Patrick wants
to jump up,
he's from the Superman
team and they've been
covering,
covering Doge chain
quite a bit lately
as like one of their
top,
gem,
projects,
or whatever.
But yeah,
Patrick,
if you want to speak,
we could bring you up.
Just,
just go ahead
and request Patrick
while Owen's just
going through this
chat GPT stuff
and I'll bring you up.
Yeah.
Yeah.
So yeah,
any developers on here
or even if you're
not a developer,
like,
so about a week ago,
I started kind of,
you know,
seriously using chat GPT
and I was thinking,
you know,
what can I actually do
to kind of ease up my day?
Because one issue
we've always had
with Dogeer
and with GUIs
and with life outside of that
is that we plain and simple
don't have enough people.
And a lot of that
comes down to,
you know,
stuff like spreadsheets,
like if something,
if I look at something
as kind of like,
am I going to be developing
or am I going to do spreadsheets?
It's going to be developing
every time,
even though the spreadsheets
are very important.
Like all of our game design,
that's essentially
where it happens.
Or like documentation,
maybe like is something
it seems like some devs
don't like doing.
Absolutely.
And for me,
a lot of it came down to
I was working on the game design
for what we're building
at for GUIs at the moment.
Now,
a lot of it was,
you know,
pre-filled by myself
running along with it,
but extracting data
out of it
could sometimes
be a little bit difficult
because it can be,
I suppose,
a bit of an overflow
of data at times
and it can be difficult
to kind of figure out,
you know,
at what point
is this still rewarding,
particularly when there
is an on-chain value,
stuff like that.
ChatGPT is able
to essentially
have a spreadsheet
copied and pasted
into it
and you can just give it
a quick synopsis
as if you would give
to anybody else in English.
And it's able to provide
essentially
a very abstract insight
on everything
that you're doing
on there.
So I said,
all right,
that's great.
So this has brought
out a lot of data for me
and now I want to kind of
extend a couple
of the sheets on it.
I want to add in,
you know,
I want to add in
these new features
into it.
you know,
how would this kind of work?
What would we name them?
Stuff like that.
Very abstract things
to ask an AI.
It actually did incredibly well
at being able
to essentially assign
a statistic bonus
to certain players
based off the name
of the,
you know,
the body types
that we have in Goolies
and stuff like that.
All of them made logical sense.
And that was kind of
what really got me
that it's been picking up
on things like,
you know,
it knows,
you know,
red is typically associated
with a colour for angry.
So if we gave it a choice
of, you know,
upgrading strength or speed,
it sees red and it will go,
well,
obviously that's speed
or sorry,
strength.
And then,
you know,
it saw other ones
like,
you know,
a ghost type
and it said,
well,
the ghost type
would probably be more agile
rather than being stronger
or anything like that.
Those are very abstract
kind of human thoughts
to have
and yet it was able
to do it perfectly
and return an output
that was in any format
I wanted.
I asked it for CSV
and it gave me CSV back.
I just had to copy
and paste it.
And I mean,
it sounds like
a pretty small thing,
but I mean,
we had to divide up
a lot of different
stat bonuses
between,
what is it,
42 different types
of GUIs
that are in the game
and free alpha
for anybody who's listening
on that.
That's one of the things
we're bringing into it.
But once we gave it
all of the data
and said,
these are all the bonuses,
you need to spread them out evenly
and also they have to make sense.
It easily saved me
about two or three hours
of going through
and manually doing it
and making sure
that they were actually
evenly spread.
All I had to do
was read it
and say,
that's probably as good
if not better
than what I would do.
So really good
for stuff like that.
Essentially,
you know,
cutting out kind of
what would essentially
be a creative part of the job,
which is worrying,
but it did do it
and it did it perfectly.
I asked it for a tweet then
and it wrote up
the tweet for me too.
Nobody could tell
that ChatGPT wrote the tweet.
It was perfect.
It even followed kind of,
if you feed it
a couple of your own tweets,
it'll pick up
on your writing style.
It even knows that,
you know,
this is a tweet
and you're doing it
essentially to hype up
your community a bit.
So shall I add
a bunch of relevant,
you know,
emojis and hashtags,
stuff like that.
So brilliant as it was
at that point,
I decided,
one thing I've always
struggled with
and I won't apologize for it
because it's garbage.
I've always struggled
a bit with Regex.
I have nearly,
like,
so Regex is a regular expression.
Essentially,
if you ever want to manipulate
a string in code,
as in,
you know,
you have the word
quick swap
and then you have
a bunch of token names
after quick swap,
Eter,
Polygon,
Matic rather,
Dogecoin,
stuff like that.
Let's say you wanted
to just pick out
Dogecoin
and then get every second
letter of it
or something like that.
Just string manipulation.
You typically use Regex
because it's kind of
the most formal way
of writing it
and it's relatively efficient
for what it's doing.
But it's just something
that I've never had
much interest in.
So I went to ChatGPT
and I gave it
a fairly complex query
that I had to run
because it was checking
for a bunch of different
kind of,
like,
arguments in a string
and once I checked
through all of those,
I had to change
a couple of values.
I had to put it
into a JSON dictionary
and store it
in the database.
I pasted in
essentially the skeleton
of the function
which is essentially
just a couple of words,
no actual logic in there
and just said,
look,
in very plain English,
explained as you would
to, say,
an intern
or somebody brand new
to programming,
this is what I want
this, you know,
function to do
and I wanted to return this.
It wrote it first try
without any bugs.
That saved me
probably about
an hour of testing
just from me
not being strong
with regex at all.
Other little things
then,
like you can get
a contract.
I showed that often
the All Rules
Lead Polygon chat
as well.
I picked up
the Algebra Pool
contract
which is what
QuickSwap uses
for the V3 liquidity
and I just pasted
in the function
in there for,
well,
I think it was
a swap function
I pasted in there
and asked it
in plain English
to describe
exactly what
that function does
and I did
to a point
where anybody
could understand it.
You didn't have
to be a developer
it broke it down
in plain English
and if you didn't
understand it
like this is
the real benefit
of ChatGPT
it is an infinitely
patient teacher
and it has access
immediate access
to the entire
world knowledge
at least up until
September 2021.
But it's funny
it doesn't actually
know QuickSwap V3
but it'll talk to you
about say
Uniswap V3
essentially the same thing
there's a few
small differences in there
but all of that
is there.
So if you had somebody
who maybe they're
all right at programming
but they know
nothing about DeFi
they know nothing
about GameFi
or anything like that
tell them to sit down
and just work
with ChatGPT
and describe to it
what it wants
if that's being fed
back to a programmer
they'll know exactly
what they're doing
and this is kind of
the real terror
that struck into me
then that
right now
you know
I at least need
to be there
to copy and paste
this over
and to check the code
that's going into it
to make sure
there's nothing terrible
in there
no exploits
or anything
you know
I have to have
some say in it
I absolutely
will not have to
have a say in that
in a couple of years time
and everybody thinks
it's going to be
GPT-5 or GPT-6
you know
we have to wait
for something like that
to come along
to start
you know
replacing more people
and stuff like that
it's going to be
tools built
on top of GPT-4
like it is
incredibly advanced
already
like somebody
I think somebody
was on the Polygon
spaces saying
that they were building
what was it
an AI game engine
where you can just
type in the type
of game you want
and it will
essentially make the game
and I'm sure a lot
of people sat there
and went
no it's not
that's not possible
it is
there's actually
a paper out
Microsoft tested it
they essentially
fed GPT-4
into an engine
and they just
described the game
and that was it
it made the game
and it was functional
it had like
real rules in it
it was an actual game
like how
how easy is that
because I heard
about this
even before this
basically
like I
yeah I heard
you could just
like tell it
spin up a game
in this format
and this and that
and it'll just
literally print you
out like
okay here's a video
game
like you can go
like what
I want something
that's like
Lord of the Rings
themed
with some
Final Fantasy
style
heroes
like
I don't know
some
anime
anime girls
and like
you're describing
like
and some
like big boobs
or something
literally just like
you could just
print out a game
like for whatever
whatever you like
I was not
describing myself
there by the way
no man
it sounds like
a best color
I would absolutely
buy that game
bro go do it man
go try that
send it to us
in the Ghost Chain
chat later
when you break
it down into
that level of
complexity
right now
it would not
be able to
output it
right now
it's doing
stuff like
you tell it
do you want
a game about
cowboys and
Indians
something like
that
then it will
absolutely be
able to do
that straight
away
when you bring
in stuff
like Final Fantasy
it is capable
of doing it
it's more
the amount
of resources
that it would
need to
actually run
through all
of that stuff
and get it
working
but essentially
what you're
talking about
yes that is
possible
like and
that's what's
really starting
to frighten me
that there's
going to be
a huge shift
in how we
work over the
next couple
of years
and it's one
of the things
I was saying
with you know
multinationals
and how many
people they
employ in
Ireland and
stuff like
that and
why that's
not going
to continue
since I
really rolled
GPT into
my daily
routine
I mean
I so
quick example
at the
weekend I
had to do
a little bit
of consulting
work and
I assumed
it would
take me
into the
week
so a bit
annoyed and
I woke up
and said
look let's
just start it
on Saturday
and if we
can just roll
through on the
Sunday night
it's going to
be two days
of work done
and I should
be able to
do those
year-end
goies four
days of the
week that
kind of thing
so I started
on Saturday
morning and
by 6pm that
night I had
finished a full
week of work
on it so
that's productivity
that's productivity
that would have
been impossible
for me
That's insane man
and there was
another thing you
told me and we
should probably
move on because
I know we have
like not all
builders here so
we don't make it
too in the weeds
for everyone but
like one thing
you told me that
was crazy is you
spent a bunch of
money on an
audit and you
said that the
chat GPT found
the audit didn't
find anything but
chat GPT found a
bunch of stuff or
something
yeah so yeah
this is I won't
name them by name
but think the
biggest best known
like world renowned
audit provider who
charge five figures
for an audit
there was a bug in
the GUI's contract
and I suspected it
for a long time but
was never up to prove
it thankfully it
was never it never
touched any core
logic and never
controlled any
tokens or you know
allowed people to
sell something or
anything dangerous
like that it was
that one particular
cosmetic was just
never showing up
now the chances of
it showing up were
very low it was
like one in
three thousand but
as we got kind of
past the three
thousand GUI mark
and we were up
towards about five
thousand now it's
like it still hasn't
shown up so I
really think that
bug is actually in
there so I figured
you know what I'm
going to actually take
the part of the
code that's like the
full function that
outlines what
cosmetics GUI
should have and
I'm just going to
feed it into it and
we're going to have
we're going to talk
through it and this
is one of the cases
where it didn't like
scan it in and say
yeah that's broken I
had to get I had to
have a conversation
with it essentially and
it was a very back
forth conversation like
GPT I mean it's in
the name chat GPT it
chats with you but
after speaking through
it with it for about
half an hour to an
hour or so eventually
it was able to see the
actual bug I was
talking about and I
was able to highlight
how it got in there
and it is obscure and
you can kind of forgive
somebody for not
spotting it but
similarly I'm not
quite sure I'd
forgive somebody for
five figures for not
spotting it but either
way it's kind of just
proven to me that you
know this is like this
is doing the job of
what would be a good
audit like it did spot
that something you
know was out of place
in that function
straight away but it
wasn't really able to
tell what now chat
GPT does make mistakes
every now and then
they can hallucinate
APIs and stuff like
that you do have to
kind of still know
roughly what you're
talking about to be
able to get the best
out of it but the
fact that I was able
to pick up on this
and I shoved a bunch
of other contracts
into it ones that I
knew weren't great
that didn't get
audited at all or
things that I'd
found problems with
before and I picked
up on all of them
like when you're
talking about getting
like an industry
can you help other
dose chain projects
to utilize this as a
second like backup
audit that would be
really cool yeah
absolutely like that
that actually pretty
easy to get set up
automated so it's just
kind of shove it in
here and that's it
right now all they
need to do the only
thing that you need to
change when you're
going through GPT is
you need to know which
part of the contract
is actually yours so
don't paste in things
like the ERC 20
standard like that's
just info it doesn't
need it already knows
it's ERC 20 just
have the import
statement in it but
yeah any dose chain
developer they can
just jump in with
their custom contract
code paste it into
GPT and that's that
it will like give you
a full audit of it
it will tell you get
an actual auditor to
read this as well but
I have found so far at
least that GPT is
doing a much better
job than a lot of
audit providers
particularly there's
some audit providers
that are like $50 or
whatever and that's
fair enough you're
getting what you're
paying for but if you
don't want to spend
that $50 and get a
much better audit it
will do that like a
chat GPT audit I
think yeah does that
you've actually given
me a good idea there
because the only thing
that I'd be worried
about is somebody
shoving in different
code to what they've
actually launched but
yeah if we wrote
something up that just
uses a chat GPT API
to grab their contract
like if it's published
on chain and just run
it through it then
that's a really nice
automatic audit people
now will be able to
find ways of tricking
it without a doubt
but yeah running a
true chat GPT that's
a really good like
primary audit the
halves it's fully
automated
wow really cool man
it's pretty amazing
I gotta run guys I'm
so sorry I forgot I
had a really I have a
really important call
that started 10
minutes ago and
they've been waiting
but really good to be
back in the spaces
guys I will see you
guys again next week
I will be back in town
now until our Doge
chain world tour in
Japan and Tokyo and
when is that like a
I got a couple weeks
or something a few
weeks yeah it will be
great to meet people
out there if you're in
Japan reach out would
love to meet with
Doge chain and Doge
community members in
Japan I gotta run you
guys can keep going or
do whatever you guys
want wrap it up
whatever okay thanks
everyone see you guys
see you Rock good
talking to you man
so what see you
later Rock have a
good one one thing I
wanted to mention just
on this is something
that Raoul Powell I
don't know if you
listen to him at all
but something he was
speaking about recently
which is that this
idea that we're
entering the exponential
age and like as a
suggestion as to like
a real tangible
example of that if you
think about like the
exponential function that
code provides people you
know by automating
processes and so on
and in this case you've
now got some code that
can make it much quicker
to create code you can
see how the kind of
like crazy compounding
effects of that could
take you know if it
took you you know one
day to do a week's
worth of work that's
7x faster and if you
multiply that by the
coders across the
planet then you're
going to have like you
know a huge increase in
productivity and as we
know code already brings
increases in productivity
because if you write a
script to automate a
process that makes
whatever you're doing a
lot faster and if we've
now got an exponentially
quicker way to write
code it's like you know
exponential on top of
exponential it's pretty
crazy and you can kind
of see that we're going
in that direction this is
chat GPT 4 is a beast
obviously and it's like
our first kind of stab at
this sort of thing and
then as we go further
down this route I think
this is going to get
faster and faster and
faster and then you can
see how we can get to
like the crazy stupid
like you know Star Trek
universe style world
where you know after you
know 100 years of this
kind of exponential rise
you end up with systems
that are truly intelligent
and truly like you know
elegant and well put
together and well
considered and that fit
exactly what we need
it's pretty crazy
yeah pretty terrifying at
the same time like the end
so me being able to do
all of that work in one
day a lot of that was
around the fact that I
had to work on systems
that I had already said
to them I'm not used to
this it will take me a
while to actually build
it I'm going to be
sitting here with
documentation and that's
what it essentially
removed for me so if
it's something that you
know you don't have much
experience with the
speed up is unbelievable
when it's for stuff that
I do have experience with
when I have it like
assisting on some of the
scripts for say Google
and stuff like that I
would still say that you
know on a good day it
can double my output it
also gets rid of a lot
of fatigue which is a
very big thing like a
lot of developers will
kind of tell you about
that and it's hard to
explain it but it's like
brain fatigue it's that
you've kind of been
reading documentation all
day you've like 40 tabs
open all of that kind of
stuff and that's really
been cut down on with
GPT as it kind of gets
you the right answer
nearly straight away you
don't have to go into
the depths of Google or
Stack Overflow so even
outside of just you know
the amount you're able to
do in a day it's the
amount you're able to
sustain beyond that and
it's honestly kind of
frightening I didn't
think that we'd see
large language models
being able to essentially
think abstractly at this
kind of stage in human
development and Tom Scott
did a great video on it
as well it's very similar
to what you were saying
it's you know are we
kind of you know
leveling off right now
is this as good as it's
getting or is this
essentially the Napster
moment when people who
did not know this
existed at all like
people didn't really know
what the internet was but
people heard what
Napster was that kind of
thing and everything
every everything that
kind of comes after that
then is just lunacy
like if you look at from
Napster yeah Napster went
down then we had
LimeWire we had
Kazaa we had Torrance we
essentially led to you
know a new age of
internet from it like
that's when internet
connections have to get a
lot faster it's when we
started getting social
media on top of it and
that's kind of his fear
that we're at the
Napster point of it and
there's absolutely no way
to tell what way this is
going to go in five
years time and it's
essentially going to be
like the people who
grew up without the
internet at all and they
were maybe you know 30
or 40 when they
discovered what the
internet was this is
going to happen to us
now essentially we're
coming into a brand new
world and I mean it's
scary and it's
unbelievably exciting I
mean I worked on AI
when I was in
university and you know
we worked with like our
lecturer is one of
kind of the top European
scientists for and
artificial intelligence
stuff like he sits on
the board of what is
the IEEE and he
worked with Tim
Berners-Lee back in
the day like really
smart guys he was
showing us all the
really bleeding edge
stuff back then and it
was very impressive but
compared to what's out
today I mean this is
essentially going from
this is going from like
the first car to
launching a satellite in
a day like that's how
quick all of this
happened it's just
unbelievable to watch
but the next couple of
years they're going to
be crazy I know
everybody always thinks
that like you know the
time when they're alive
is the time when the
most progress is
happening because that's
kind of like the
relative way it looks
but I really do think
that this is kind of
like an inflection
point where once we
go down this route of
like code writing code
yeah it can get away
from us so quickly and
it could be like I'm
an optimist ultimately
I'm kind of like I do
tend to look at a lot of
doom and gloom stuff
recently with the world
going to shit but I'm
an optimist at heart and
the idea that we've got
to this point now where
you know the code can
start writing itself
essentially it just leaves
me so optimistic for the
future because like it
even just like the way
you know biochemical
circuits function compared
to electronic circuits
they're about like
electronic circuits are
around like a million
times faster so the
machine you know like
code can think sorry my
kids are in the
background but yeah
code code can be like
exponentially faster
than like you can
computers can think and
not think's not exactly
the right word but they
can process information a
lot quicker than people
can so even like the
idea generation as soon
as we get past this
point where you know
as soon as it gets the
point where it can write
solid code that's going
to function really well
and fit a use case I
think it's kind of game
on then for the next 10
years 20 years it's going
to be absolutely
incredible pretty much
I mean I think it's
even going to be scared
and not being honest
like as you were saying
there like the idea of
code writing code like I
remember it was about 10
years ago now no no
about eight years ago
when I was working with
Microsoft and one of my
friends in there we were
speaking about you know
how is AI going to
change everything and he
said that it's going to
change everything when we
get the self-programming
computer I kind of laughed
went well that's not going
to happen so we don't
really need to worry about
that and that's been
echoing through my head
now for the last couple
of weeks and I was like
well we are getting that
this is where we're going
and it's not really the
pinnacle of where we can
go when we have a
computer that can program
itself and we're kind of
there which again is scary
but it's where we are and
yeah it's um it's frightening
like there's so much going to
come out of the next couple
of years and this is why I'm
telling everybody like yeah
you might want to go pick
up your cryptocurrency now
because that might be like
your only money for life
like that kind of thing
yeah you see it as very
optimistic I suppose I'm
used to seeing how things
go with you know if it can
go wrong it does go wrong
and just kind of how people
have kind of had some
liberties trampled on over
the last couple of years
that kind of stuff like
particularly with the
Patriot Act and stuff like
that in America where
never wastes a good crisis
and mine was like I really
hope that this does get put
the good use and it does
not become some dystopian
horror where people you
know nobody needs to work
a job when you have a
fully automated world it's
funny tradesmen like you
would always say that oh
yeah they'll be automated
first no it's actually
the creatives and the
developers were getting
automated first so yeah we
are going into the the
the same of you know
science fiction model where
we have robots and AI doing
everything for us which
means that we're not
incentivized to make kids
because why should we we
can live we can live
forever and you know the
bots will do everything
that we need to need them
to do we don't need to
develop society and yeah we
can control you know
babies and everything yeah so
it is the science fiction it's
a possible way that that the
that society could could
evolve into but are we there
yet i'm not sure but could
we get there yeah why not
it's uh you're talking
wall-e we're all on the
ship and you know we're
just all 500 pounds and
just laying back in our
couches all day that kind
of stuff or you have
idiocracy where you just
get all the tv channels yeah
it just gets worse and
worse yeah that that film
scared me more than most
actually because it's so
it's so relevant when you
watch it as like if you
watch it as a kid it's kind
of a funny film but when
you watch it as an adult
it's fucking terrifying
yeah man it's the
documentary it's a
documentary but it was
supposed to happen a lot
uh further into the future
not right now you know
yeah we're getting faster
there into the idiocracy in
the movie that that then we
should have been getting but
yeah
i didn't want to deal with
this in this lifetime at all
and now it's like well you're
going to have to so all right
well we were just going to
have to put up and shut up
unfortunately i don't know
uh on a lighter note i don't
know if darren's uh around to
speak about quick swap new ui
to to to make it a little bit
lighter and change a little bit
the subject about the doom and
gloom of the society and ai
taking our jobs and uh
destroying
everyone's going to have to get
good at trading man that's how
we're going to make our money
from now on so yeah let's hear
a bit about quick swap
no i
i'm not sure
trading too now so
and it all uses
algorithmic uh
intelligence so
yeah well that's that's not
mass released yet so we have
we have a little bit of time
where we can still at least beat
other humans at it but yeah the
ai will absolutely be beating us
at that well it's already doing
that
we just don't really talk about it
as much but yeah bottled like
bots doing financial
transactions not that is
probably like the original use
for a lot of bots that are out
there yeah like uh even like
simple patterns yeah and
they're like i mean they it's as
simple as following a simple
process to begin with and it's
just a numbers game from there
and it's all dependent on how
fast it can execute those trades
how much latency there is on the
servers and you can uh you can
even do some high frequency uh
automated market making through
these bots too
yep that was one of i think the
biggest fallouts we've had over
the last kind of couple of
decades when high frequency
trading became a thing
i was like this this is scalping
to the nth degree
and look it's uh it's just kind of
the way the world went and i guess
at the same time it's like look
markets are markets so we can't
kind of we can't tell people don't
high frequency trade because then
we're just going to give an
advantage to people who do it
anyway but it's still it's still
kind of mad to watch just all of
this stuff suddenly happening in
real time like you would have
told me when high frequency
trading you know kind of first
came on the scene that yeah it's
going to get much worse in terms
of automated actions in the last
couple next couple of decades i
would have laughed at you but
here we are
so anybody have any good jokes or
anything fun yeah i think i am
hoping uh obviously ai could maybe
help you get better at fortnite
maybe maybe uh get your accents
yeah i mean i'm not the only one
that can understand me most of the
time so
i can and i find it really helpful
like a lot of people like so if i
was abroad and me and a friend
wanted to speak in private you know
we might speak in irish i don't
even need to speak in irish to you
and like you don't need to speak in
is scottish in a language you have
some weird gaelic
but yeah you can just
pronounce drunk
yeah
but yeah no you can just speak in
english i can speak back to you
just speed it up a little bit and
we have a private language it's good
yeah
tell us all about your quick swap
updates
yeah so um we launched the the new
ui on and the doge chain url um a
couple days ago
uh and we opened up the the dd layer
which is essentially the the dragon's
layer but for the emissions token on
on doge chain which is a doge dragon
uh so yeah we basically have one ui now
um and you can basically switch between
polygon and doge chain as seamlessly
um you do need to i think polygon is
the default just now just because um
maybe some wallets and stuff don't
actually have the
doge chain as a default so if you try
to open it up and maybe like trust
wall or something it would just get
confused so
it makes sense to start off in polygon
and then and then sort of move from
there
um we will have all of it on the
the polygon ui very soon um i think
that might be roughly when we
uh drop maybe the zk evm sorry ui if
if the community votes for that
obviously we had to we had to vote to
deploy on um doge chain as well
and obviously the the community voted
overwhelmingly for that uh utility for
doges is huge
um so yeah basically one ui um
and all the fun things that we do in
polygon we're going to be obviously
bringing over to to doge chain
sounds great man uh that's uh what i
wanted to ask uh is do you have any
plans to adding like more farms on on
on doge chain as well and um maybe
further down the road some syrups or
something like that
yeah yeah absolutely obviously the the
dragon syrup um people people have to
to opt into that uh typically so it's
more just um
uh obviously reaching out with the
projects getting chats going and
obviously it helps them get the
exposure they they get um
typically on maybe polygon they get um
quick quick stakers get exposure to all
these projects sorry i think we had
maybe
i was it was some insane numbers like
um 750
uh i'll get the number actually uh we
we had absolutely insane numbers
view and view on the site in the last
month
um so it typically just gets gets all
the quick all the people on quick
swap um exposure to these projects i
mean something like that on doge chain
would obviously
massively uh get get eyes on all these
um all these tokens um
um and then if you do a syrup you get
farm
uh so it sort of works in tandem where
you um get a little bit more volume
due to the syrup because people might
sell the token
um and then you you get the farm and
then that pushes the the farm apy up
and then people are incentivized to
sort of do the farm and stuff
we are more than happy to just um we
just do farms for a lot of projects and
on um on doge chain obviously we only
have the v3
but we we aren't actually a uniswap fork
a lot of people just think we're a
uniswap v3 fork just because that's
the only v3 they know but we are
algebra finance um and they actually
support tax on tokens so if you have
like a tax token
uh you don't need to worry about um
it not working on on our v3 actually
you can set that up no problem
yeah you you actually had your v3 uh
on doge chain before before that you
had it on polygon it was like a
test drive uh and it was way before
uniswap had their v3 so uh yeah it's
certainly not a fork from uniswap v3
because uh it came out first yeah i
mean i i think we we're still sort of
swaying on launching the v2 as well
just because people people know and
people trust that um a lot of the
token contracts just work on on the
the uniswap v2 i mean all the people
that started the decks on um on doge
changes just fork uniswap v2 i think
i think uniswap v2 has been maybe
forked like thousands and thousands of
times um so yeah people sort of trusted
that they aren't really sure about the
v3 so we're obviously aware of that and
we're definitely um looking into trying
to just obviously build the the actual
quick swap adoption on dodge chain as
well because um we we launched here to
be a trusted um sorry project that people
know they know we won't just like
disappear we won't rug um we're here for
the long run
yeah for sure biggest uh dex on polygon
seem to be the biggest maybe dex on uh on
dodge chain i i think you're still at the
moment i haven't looked at the numbers yet
lately but uh let me check something uh i
think you you're there in the top with uh
with kibble swap i think as dexes but
yeah obviously as far as um liquidity goes
because we do have the v3 um we we can
actually do more volume with with less
liquidity um you you can have like maybe a
tenth of the liquidity on an on a v3 just
managed efficiently and get more fees than
someone with 10 times your tvl on on on v2 um
so i mean there are things like that it helps
uh there's so many ways you can use the v3
uh if you did actually want to just do v3
you can uh if you wanted to be really
degen you can like set price floors on
your token you can um convert uh like
project tokens into maybe uh the other
asset just by liquidity people can buy
into liquidity it slowly converts into the
other asset and then you can withdraw the
liquidity obviously uh it doesn't
automatically compound just now on on v3
because um we have uh we don't have anything
like gamma that we we've just launched on
on polygon so basically when when someone
makes a swap you actually get a fee that's
claimable so if you're you can actually see
like a tangible um amount of tokens that
you're receiving in fees instead of like on
v2 where you just have to sort of hope that
the magic works
yeah and uh with gamma what happens is that
uh you've got auto compounding of your fees
into liquidity that's right
uh yeah so it's um with gamma we are
actually looking at um launching gamma on
doge j and i think they were open to it but
uh we are basically focusing on polyvon just
now to to beat uniswap there um we yeah what
they do is they they actually set price
ranges they set custom price ranges on
your v3 liquidity so you could have like a
narrow or a wide price range um both of which
have their merits like um the the wide range
uh has sort of less room for a permanent
loss but um you get less fees because the
liquidity is less efficient and if you've
got like a little narrow range uh where it's
trading in a very small range it rebalances
so you always stay in liquidity like and then
in range but you're just more susceptible to
impermanent loss with with smaller price
changes um and then what gamma do is they'll
make sure you're always in range so you can
actually go to bed um and then they will
yeah compound fees for you and uh you they
like they have foreign contracts and stuff we
can actually emit like any token uh so like on
on our v2 we could only emit maybe quick and
then an additional token but these guys can just
emit um any token
that's pretty great man
i think i'm gonna have to i think i'm gonna have
to write you guys up uh
uh v3 taxable token i've noticed that this is the
issue while you know they work on v3 you can
put a taxable token into it if you're copying and
pasting any other tokens that are on the market
really at all they've all been built kind of based
off safe moon which is you know exclusively for v2
liquidity balancers so yeah we just i think we just need a couple of
contracts written up for it because a lot of meme coin
developers i don't think they want to sit down
and work out how quick swap v3 works so
yeah i might get something written up we can just start
dispensing it out to the community
get some more people on quick swap
let's just say like i'd love to see more traffic on quick swap in general
just that a lot of the exchanges have noticed that
you know they were around at the launch
but then they realized that although we did great at the launch it is still a
bear market so a lot of them went really quiet
so yeah with quick swap having stuff like v3
and hopefully you'll bring over like gamma farms and stuff like that in the
future and also the gaming hub on polygon all those awesome things
yeah it'd be great to see more tokens get launched on there because i mean
the reality is it's the only kind of decks that i would have a high amount of
trust in and so i've been using it since day zero on polygon
yeah by the way on that note um are the dot chain developers i don't know if we
mentioned this at the beginning of the um of the spaces uh just for this reason
because we are a meme chain and we want to to help people to get their tokens um
launched on the chain uh a lot of a lot of the developers as you said
they didn't want to sit down and create a smart contract bespoke one
so they forked from uh one of the first contracts that was i think omnom
and a lot of them were locked into the into doge swap the the the initial decks
that was uh that was on chain had the the most volume and the most tokens but
the issue is that those developers are nowhere to be found we don't know who they
are there's very little support there about uh you know withdrawing liquidity
so the thing is that our developers on dot chain are working on on um you know
a forkable contract for dc tokens so that people can easily deploy their tokens now
and they can use them on any decks uh on the chain uh provide liquidity how to
provide liquidity on quick swap for example push that side of things and uh you know
uh re reignite uh a little bit uh the excitement about meme token trading uh especially with with
purpose coming up uh on um with different actually uh that providers so uh it will be fun that's for
sure yeah i mean that is definitely the best bit of like accidental bd work that i have seen in a
while just just by doge swap just having that contract there uh and then what what they've done is
they actually hard-coded the the router into and their contract so anyone that did for that
had to use doge swap i didn't know that i did that that said that's actually a bit legendary
yeah yeah yeah yeah it sounds great that we're gonna see this is the thing with like meme coins
and that like i don't expect somebody who's deployed a meme coin to actually be a full-on
solidity developer they might know bits or whatever but if you're joining a community token it's like
they might be developers they might not be it's like you know you could figure it out yourself if
you like to but uh if you're just in it for you know you found a community you really like then
yeah it's very likely that it is not being run by a group of developers so you're having those
resources i think is really important because i mean telling people not to launch a token because
you know they don't know solidity it's like trying to teach fucking abstinence like it's not
going to happen like it's just going to happen but in a really unprotected way and nobody's going to be
happy so yeah just give people the resources to be able to do this stuff in you know a trusting
environment and so on and the chain will be way better for it yeah and obviously make sure that
it's hard coded to quick swap instead absolutely
that's hard coded into my wallet man i'm getting all the emissions
no no you got you got a small fee okay i get small fee that works for me
we'll call it and we'll call it the own layer yeah no you've said it out loud from the quick
swap account so that means it's like legally binding so
i think we did talk about this i actually spoke to owen about it um because he's sort of my my third
party dev uh just use him so yeah we were looking at um maybe trying to maybe build something out
where um the projects that were looking to fork uh a contract that had more utility that gave them
more choice um to be able to actually run airdrops to the holders um instead of uh just like winging it
because a lot of them a lot of them um obviously as owen mentioned just might not have the the
resources or to know how to do things like this but uh i mean the the community here is great and
people like owen actually stepping up and um and helping out things like this is obviously amazing
yeah it's awesome i i think owen it has been also helping uh other builders you know uh like i know
he's he's been working maybe with doge tools if i understood correctly that to help them like
organize their airdrop because they want to migrate onto quick swap uh so yeah this this just shows
no you're not i i wish somebody is then it might not be you i don't know who it is
that'll be chat chat gpt absolutely but anyway yeah the the community and uh the builder community
on dot chain is always helping out each other to uh to keep people uh you know uh in the know and uh
get them continue building even if they're they they encounter encounter some seemingly you know
too challenging role blocks but uh yeah that's uh that's dot chain for you and the awesome community
that we have um anyway uh we can uh give the word to some of the community members by the way if
anybody wants to step up and ask questions to uh darren from quick swap myself or jack or even owen
uh yep just uh request speaker rights and we'll get you up there uh shitcoin showdown you can even
uh show your token show your project if you're building uh anything that anything goes uh in the
next uh like 15 minutes and then we can slowly wrap things up if uh if we uh don't have any
interested parties that want to speak
yeah i don't see anybody that's interested in coming up speaking uh anyway yeah uh it was a fun one
guys uh thank you uh thank you everybody for for chiming in and uh coming up to speak uh owen uh
i got a request but it's gone uh owen and darren from quick swap uh yeah rock was here earlier
uh and um yeah we'll be here next week with uh another topic we're gonna try to uh discuss some
some interesting topics and maybe shoot out a poll on the on the twitter community so you can uh you
know choose the the main topic of the of the next spaces and uh we can go from there and and discuss
something we we will try to to get some someone some relevant people of on that topic as well on the
on the spaces so uh a lot of promises there let's uh let's get it to give it a try this next week and
uh oh i got dj wojack uh yeah uh approving him now and uh we can get him to speak and uh talk a
little bit about the smoke club whatever they're doing and we can wrap things up after after dj wojack's
uh appearance
you can speak i think now
yeah it's not it's not working sorry dj wojack i i approved the speaking rights but it it it's not
giving you uh
yeah it worked with bb you can speak now hey when you when you um approve it takes like there's like
some dead air for a little bit and then it pops on but um i just want to say this is one of my most
enjoyable um twitter spaces to listen to i always love hearing owen and um congrats to matt for his
baby turning six months that's exciting um and uh i just wanted to do a quick update we recently had
a charity event where we um raised some money for go nirvana most of the funds came from our
commemorative nft sales um and then the community also donated some and we were able to raise a lot
of money to buy um tons of dog food for these dogs that were sick and also elderly in need so
thank you everyone who contributed and we will be doing more fundraisers um like this in the future
to help our the different communities around the world
yeah thanks b and thanks for uh you know keeping up the doge uh ethos of good do every day and uh
saving those dogs uh giving them anything to eat and uh providing them care great community initiative
all right uh yeah sorry did you will jack it's uh it's not working i tried to approve you like uh a bunch
of times it just uh doesn't go through uh jack i think we can uh we can wrap it up one last thing
yeah okay so we're gonna wait to announce this but i just got the go ahead um and you kind of
said it earlier doge tools is going to be migrating to quick swap um we're really excited about this
it's something we've been talking to both quick swap and doge chain um you um for for quite a while
now um and so we're just getting everything prepared um we're really excited about this migration
because um quick swap is here to stay doge chain is here to stay and so is doge tools and we want to
um set ourselves up for the best success for the future and um we believe this is such a great
strategic move for doge tools our community and we will continue to work to build awareness of doge
chain um through the tip bot and other future features um and utilities that we're coming up with
that we are very excited about so while things may seem slow right now we have we are always building
we're always working we're always planning for the future and and trying to bring value to our
holders so we thank you for your help and for this opportunity and um thank you quick swap for for
helping us make this migration and um yeah we're really excited so it's a great time to buy doge tools
because there's going to be a lot more people with eyes on us
yeah yeah definitely look forward to having you
thanks for that molly oh yeah have a wonderful weekend
i got another uh do you want to speak 93.eth if you have any questions i i'm making a speaker now
yeah you can speak
i see you're connecting there's no i don't know if it's gonna work
yeah on the uh the old roads um like the polygon spaces earlier uh the robbie from the immutable
that i just couldn't hear him at all uh anytime he talked it was just absolute silence so i did just
keep messaging the chats like someone talking is this it's just broken oh yeah it happens uh we got
those that's why we have a couple of co-hosts and speakers here so you know when somebody is
speaking and some of the co-hosts cannot hear them we can tell each other in telegram that something is
wrong anyway i think uh i think we're good jack can you hear me i think we can uh wrap it up for
today it was a great spaces guys thanks uh thank you thank you everybody for coming up and uh speaking
and uh we'll see you next week with uh a new topic and uh new new uh guests and hosts
well hosts i'll be here jack will be here we'll see you yeah thanks everybody it's great to talk
with everybody again and this kind of uh more broad new format i think is going to be really good
going forward so see you all next week yep see you all guys thanks for having us
