Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
π΅ DotSwap Live: Save the mempool
Recorded: April 3, 2025 Duration: 1:11:00Space Recording
Short Summary
In a recent discussion, crypto enthusiasts explored the evolving landscape of Bitcoin, highlighting key partnerships, innovative projects, and the potential for growth despite current market challenges. Notable topics included the launch of yield-bearing stablecoins, trading bots, and advancements in decentralized finance, all contributing to a vibrant ecosystem poised for future success.
Full Transcription
Thank you. Thank you. Hey, guys.
How's it going?
How's it going?
Can you guys hear me loud and clear thank you jack
thank you bitcoin universe for coming yeah i think we're just waiting for our
host and some other guests to come on and then we can chill and chat Thank you. Thank you. GM, GM, am I speaking? Can you guys hear me?
Yes, yes, I can hear you.
Okay, so our guest is coming. Can you guys hear me? Yes, yes, I can hear you. What about everyone?
Okay, so our guest is coming, so maybe just another minute for them to come in.
Yeah, I see the Bitcoin universe. Oh, he rocked us. Maybe he's reconnecting.
Yeah, let's just wait for them to come back
oh and by the way jack uh congrats on your partnership with tether and that was huge
yeah it's an exciting time um you know just despite the the the sentiment in the market at the moment,
the bullish news coming out just every day, left and right,
is just outrageous. So we just got to hang on and wait for the sentiment
to catch up with reality, you know?
Definitely, definitely.
I mean, it's almost like dream looking at, you know,
empty blocks in the main pool.
That's, I think, what inspired this episode of ThoughtSwap Live,
which is just to talk about how we can support each other during this tough time.
It's always good to dream.
Yeah, if anyone wanted to release an ordinal collection, now's the perfect time.
Yeah, now's the perfect time to consolidate your UTXOs.
If you want to open like Lightning Network channels, you can do that.
Or you can just come swap, inscribe, trade.
Now's the best time.
Hey, what up Cyclops?
Have you and Sats Terminals account up.
And Bitcoin Universe, I invited you
as well.
Hey guys, how's it going? Thanks for having us on.
Yeah, man, all good, all good.
Again, congrats for Sats Terminal's big partnership.
It was more like an April Fool's joke.
Yeah, man. Actually,
it caught me by surprise.
I was actually
really buying it
because
with the way
that you guys have been
cooking it
lately,
so yeah.
I almost thought it was real.
Yeah,
we were like,
how far can we take it?
So I almost started
venting a tether.
And then we're like, wait, we keep probably getting
a lot of trouble with that.
But yeah.
You guys have huge leads coming up too, right?
With version 3?
Yeah, it's a bit further than version 3.
It's version something.
Yeah, that's what we're teasing.
Version 5. Version five.
Version five?
Nice.
So what are the big differences from the version three
to the version five, actually?
The big changes?
Yeah, I think we'll be talking about that later.
We'll be teasing it.
Yeah, but I think everybody's here.
If there are more guests, they'll come up later.
But let's give the mic to 32, our proud intern to host this space.
Yeah, yeah, sure. I really miss Cyclops' love. It always makes our space so funny.
It's been a while since I heard this. So funny, love.
So, um... I'll try to get on more. We've just been...
Uh, we... We're trying to build some stuff out to kind of help us get some reach. So it's just
been a lot of work on the marketing. But I'll start getting on spaces more often for sure.
been a lot of work on the marketing, but I'll start getting on spaces more often for sure.
Sure, sure. So maybe we should start first and let the rest of the guests come. And if
they come, I will introduce them. So let's start today's space now. So hi everyone and welcome to DOSweb Live. I'm 32, a newbie BD from DOSweb and thrilled to
be your host today. And we will talk about a big topic today, mempool clearing transaction drought,
where does the future of the Bitcoin ecosystem lie and what everyone's doing to face current situation.
And we've got an amazing co-host, Chi, the marketing manager of DotSwap.
Please tell us more about yourself and DotSwap, please.
Thank you, guys.
Thank you, 30Zoo, for hosting the space.
Yeah, hi, everyone.
I'm Chi.
You can call me the ecosystem lead here at dot
swap and i do bd i do marketing i'm just trying to connect to more people telling people about
our narratives about the stories that dot swap is trying to uh you know create here in this space
in bitcoin and crypto but what do dot swap do? We are basically replicating the Uniswap
experience, the AMM swap experience, the constant function market making here on Bitcoin.
We can swap RUNS, BRC20s or any other like big token standards. Like lately it was ARC20s who's making a combat, so who knows. And you
can do that anytime in any amount here on ThoughtSwap. You can just click, request to swap.
You can see the PSP keys. Everything is trustless. You can see it in the mempool in 10 minutes
later. And yeah, that's basically it.
This is the top time for builders.
That's why we're trying to connect to more people.
We're inviting our friends, good friends here,
and let's give more highlights to them
and show and tell what have been going on with them lately.
Yeah.
Yeah, that's great. So DOSweb is the one-stop device solution for all BTC assets. And the next one is Cyclops from SES Terminal. Cyclops,
could you please tell us a bit about yourself and your take on the current state of the Bitcoin ecosystem?
Yeah. So I'm Cyclops. I'm head of marketing for Sats Terminal. We are a dex aggregator for
runes. So whenever you do any swap, we find the best price out of all the marketplaces for you, and we automatically do it in one transaction.
And we're in the runes market.
The runes market is a little bit slow, but it also just gives us some time to build out some stuff that we really needed to build out.
So we've just been taking it very, very well. Well, I think the market is like if you look at Bitcoin, I mean, I think the world is getting a little bit, you know, like I think trade is people are trying to get a little bit more even, especially like the U.S.
I mean, I'm glad in crypto that like we don't have to deal with that, you know, but like I think there's like trade tensions.
So then that kind of ripples throughout um the rest of the world um and i
think like i think for the u.s it's not even like really just china it's just like in general like
i think we've just kind of exported a lot of our um ability to build anything uh to the rest of
the world and i think it's just
with war and everything
kind of going on
and we're trying to end that,
it's like we kind of
just need to
revamp our economy
personally
in this whole area.
So it's not easy.
It's just tensions
with everybody.
But ultimately,
I think it's not that. It's not the end of the world. I think governments
make a bigger deal of it than it really is. And I think if these things lead to any currency
problems, that's kind of like the use case of crypto to begin with, is to kind of deal with
those problems, especially with governments so
i feel much better being in crypto in general that's my opinion
yeah that's great and we are all in the hard time but we are still breathing
and um we got jake also frominal. Maybe a brave introduction to yourself, please.
Jack, yeah, I'm actually with Hermetica.
Hermetica is the Bitcoin-backed stable.
It's a rune on the L1, 100% collateralized by Bitcoin. And it's a yield-bearing stable, up to 25% interest.
The way that Hermetica works, USDH, the token itself, is there's a spot position and a short position open on Bitcoin.
So it's delta neutral.
It's like a futures trade. And so when longs pay
shorts, Hermetica stakers earn yield. And yeah, I'm Jack. I've been in this space since 2017.
Big fan of Bitcoin, obviously. Back when, and I'm sure many of you back then, we couldn't do anything with Bitcoin
really other than hold it. So I learned a lot about Ethereum and had some fun during DeFi
summer and all that. And it's really exciting, despite sentiment, and that goes to what we've
spoken about so far. despite current sentiment, we're
sitting here talking about doing things on Bitcoin that were previously unthinkable up until very
recently. And we had so much fun with ordinals, so much fun with runes, you know, and we've, we've still yet to see that big run that we know
that is capable of happening in this space. And, but that's why, that's why it's good right now to
be building. That's why it's a great opportunity to be able to dial in, you know, when, when you're
in the middle of a bull run, it's hard to get anything built. You're just, you know, you're not sleeping.
You're flying by the seat of your pants.
But right now we have the opportunity to build the things that are going to catapult this into the stratosphere.
And yeah, it's a very exciting time and very excited to be here.
Thanks for having us.
And yeah, I mean, we're talking about aggregating trades on l1 we're
talking about you know having uniswap essentially on bitcoin you know through dot swap this is this
is this is a magnificently bullish time we just you know we're in a lull in the market but this
too shall pass yeah speaking of building i think like her medic her medica and jack and their team
is like really legit you know they're one of the earliest builders in their rooms uh bitcoin space
you know we've been working with them uh like from the very beginning like they're also one of the
first uh stablecoin pairs that has liquidity on dot swap. You can go ahead there.
If you want to like cash out some of your Bitcoin to realize some of its value,
you can do that on dot swap via USDH.
That's the runes trading pair.
And they're also like one of the first teams that tried to implement the .swap APIs,
which is trying to integrate the swap into their product, into their website.
It's still a work in progress, but they have been hard working at it.
And it just goes to show that Bitcoin is really the space for builders and for teams,
for institutions, for teams like uh hermetica so yeah we wanted to highlight this
i go ahead and shut them out and we hope we can work together in the future as well
yeah the market is low but we are high here and i see that Hermetica has the first Bitcoin backed yield bearing synthetic
dollar. This is some real cliche. Yeah, appreciate it. And another guest is Universe. Universe,
could you please introduce yourself to us and the recent job you are doing?
Hi, thank you for the invitation, first of all. all and yes we have been the pioneers in the
original space since the very beginning of the first days of ordinals we have built the first
wallet for a couple of protocols like the top protocol we built the first wallet for the lambda
protocol for the dust when we are undergoing and recently we have been working with you to
build the the first trading and copy trading bots on telegram for runs using just dot swap liquidity
it's a finished product we are about to release it anytime it has a full dashboard
to release it anytime it has a full dashboard included as well so people can just visit the
dashboard to select the addresses that have the most profit percentage on their trades
and just copy it with one single click uh it's very easy the wizard interface and you've been
doing a lot of stuff in parallel as well uh we have been building for other protocols and now we will be shifting more to to the rooms
protocol and the stems protocol as well where the i think it's where the best communities are right now
yeah that's amazing uh i think uh like the tab ecosystem is something that we slowly missed from the beginning.
You know, we were focusing on like BRC20s, but then the tab protocol and for the track, tracking, they've done a good job building their own community as well.
But, you know, we've just like never really crossed the past. And it's really amazing that we were able to connect with you guys who have been big in their ecosystem.
And now we're working towards something as well.
Yeah.
And I would love to hear more about what you guys are building and how we can make this user experience better.
Yes, yes. and how we can make this uh user experience better yes yes uh we we will um uh probably
work in the final stages with you about the this trading bot that we are building together and
i hope that you have enjoyed it it's very fast actually swaps are completed in less than two seconds that we have noticed it
um it's fully featured you can check like the you can set by default the take profits amount percentage sorry you can set the buy amount of each trades and you can set the
slippage these three things and everything is then um in an automatic way
if you buy manually you you have you have the like the the cell transaction is then automatically
via the take profit percentage the same thing with the copy training you just need to set like
a copy trade address and the bot will do everything by its own when the the target competitor does
a dozen transactions the the boss will do as well at the same time mirroring every bite transaction
and we'll sell it at the when it reaches the take profit percentage that is set on the other
settings I think it's a good way and an easy way for new users and beginners that don't know
how to you know how to spot the the best tokens to trade they just you know they just check the
the best traders we have the dashboard with uh full statistics uh with the statistics for the last 30 days uh of trading of the of the profit percentage the volume
the number of trades including like an interactive graph that users can see in real time
so we just need to filter by these these values and choose the traders that you want to copy trade I think it's it's it's like something
bigger it took like a as like a long time to build it about two weeks and a half since we started
uh but I think it will pay off uh really well because when for example when Unibod came to
Ethereum it was like a it was like a big thing it changed completely the
how people was interacting with uh with the swap and liquidity pools right so before people just
trading manually using uh using like their dex tools but now after the the telegram bots started to pop up in the in the ethereum world like uniswap you know
everything including like these uh snipes was everything was being doing by the the bot itself
no more interaction was being done by the dex so i think uh this will be like a good step for
taxes so i think uh this will be like a good step for you know for bitcoin and a big leap forward
for the for the ecosystem and we plan to into to implement this as well not only for um runs runs
is just the the first protocol that we are implementing it uh soon we'll be doing it for
soon you'll be doing it for a stand since her c20s and we plan to do the same for um for brc20
especially brc20s especially when the new programmable bolts come out and the single
step transfers are implemented uh this will be much easier you know to implement thank you
thank you for sharing yeah yeah it was like the last thing that you touched on, like the BRC 2.0 update, which
is one step, one transaction transfer.
I think that's really big.
Hopefully we can get in on it if it gets big.
But also, yeah, for those of you who don't know, Bitcoin Universe, they have created this Telegram bot where you can go in and create a separate wallet where you can put a small amount of funds in and then it does the automated trading or copy trading.
And it goes through .swap.
It's fully integrated with .swap APIs. So dot swap it's like fully integrated with dot swap APIs
so I think it's like the natural steps like first we have like aggregators like uh like
says terminal where they have done they aggregated the listings or the liquidities on dot swap and
then you can go ahead and use their app on their website but But then some people who may not be like 24 hours online,
they just want to put some money in like an automated address
to do those copy training.
And for those of you, now you have the option to use Bitcoin Universe.
Yeah, I think we'll be announcing the details of the bot later.
But of course, it's not like self-custodial wallet,
so always do research on what it means.
But it's an option for you guys to choose.
Yes, and thank you very much for all the support
that you have been giving us for the technical aspects
of the bot.
I know we have been a bit boring with you
for every minor stuff, but thank you.
No, it's good.
It's good.
This is what building is.
We've talked with Sats Terminal as well.
We've run into some issue there.
And with Hermatica, I think I am personally communicating a lot of the technical details
with their devs as well
that's what it means to hear the build on bitcoin you know it's not an easy job but it's also not
difficult because of all the support this is like a close-knit community everyone's happy to help
each other and to see each other like improve and success succeed yes absolutely thank you very much
succeed.
Yes, absolutely.
Thank you very much.
Yeah, well, you guys talked about sounds pretty suitable
for people who are lazy and newbie like me.
So I see Cyclops has something to say, right?
Yeah, I had a question because, like,
can you guys tell me more about, like, BRC20,
the new update that's coming out?
Because it's something that our team has also kind of learned a lot more about, too.
Oh, yeah.
I guess I'll answer that.
I think it was best in SLOG and UNISAT.
They are at the forefront of pushing the brc 2.0
update it's just like uh you know you know before people have been judging like brc or rooms for
their like requirement of needing to have a um indexer where it's like it introduces like this like centralized element into the protocol
but then they try to push that narrative of where you can have like a decentralized indexer
and what BRC20 they have been doing I think is to use a customized EVM chain that is not really a chain, but they use it to run the smart contracts,
so like the backends to identify or validate the transactions, the indexers, the sequencing or
whatever. It's like a bit off the Bitcoin mainnet, but still all of the transactions for the users,
everything is still on Bitcoin. So yeah, I look into it not too deeply, but still all of the transactions for the users, everything is like still on Bitcoin.
So yeah, I look into it not too deeply, but I like the idea that they're proposing.
And of course, for the users, any improvements to the BRT20 user experience is a plus, you know,
you don't need to inscribe and wait one block and then start trading again.
wait one block and then start trading again.
But if that is to become true,
then it's big for you, for us, for everyone.
So it's BRC20 that's making this like
a smart contract backend?
That's really cool.
I didn't know that.
Yeah, it was Best in Slot,
the team, Best in Slot XYZ, I think.
They created this open source, customized EVM engine where you can run smart contracts.
And it's like a private chain or not private chain. It's like a customized chain where you do the smart contracts.
But everything on the user side is still on bitcoin
that's really cool and and to my knowledge i think brc20s that was a lot of the asian market that was
originally in that is that correct yep yep uh People are saying it's like grandma chain or like the grandma token standards
because like I think for the past three to four months, there have been like inscriptions
that people are inscribing, but it's like old people tokens because they do this in real life events where you show these coins to a bunch of uncles and aunties and then you ask them to buy this by that.
I don't think it's a bad thing because it's still creating volume.
People are rushing to inscribe the latest cloud trends of BRT20s.
There have been some negative emotions on it.
But I think any volume is good volume at this point.
So yeah, and with this update, I think it's going to change that,
I think it's going to change that, hopefully for the better.
hopefully for the better.
Are there good places to see metrics and everything on BRC20?
Sorry to interrupt.
Maybe we should leave the question to the QA round,
and we should head into the next section first.
Yeah, sorry about that, Cyclops.
You can leave your question in the QA round.
So we will jump into today's topic right now.
So I have a question for you, Cyclops.
The Bitcoin mempool has been clearing out lately and transaction activity is drying
So what do you think was driving this change and what does it mean for Bitcoin ecosystem?
And what's your plan to face the current situation?
So I think, you know, like, you know, dex aggregation is one of the several things on our roadmap that's not fully public yet but so like i think um it it is a huge problem and i think it's going to be very it's a
very important one because i think you have all these um etfs and like uh all the the trading that
happens like it's a lot of companies that are taking the Bitcoin off the network. And so it's, it's being paper traded.
And so I think it becomes an existential problem to, to Bitcoin.
And so it could happen right now.
It might be a little bit slow, but if, if the miners aren't profitable,
it's, it's like an existential problem.
So I think given the amount of money
that's on bitcoin no matter what a maxi says they're gonna have to switch to defy happen
that's that's my premise is like they're gonna have to start accepting defy on bitcoin in order
to have transactions on the network um because it's it's like a survival of like crypto in many ways.
Yeah. So do you think there too has anything to do
with the current situation?
Oh, a little bit, but I think,
like I think you need to first be able to have a trading experience.
That's good, but I think you also need to just start moving more transactions on chain, too.
So I think it's not like one or the other, in my opinion.
You're kind of preparing for mass adoption in a way.
So if a lot of people come, it has to still be a good experience,
but you also want to set up infrastructure
so things happen on L1.
So you just have to have people want to use it
and then do transact on it.
And so I think arbitrage is a very good use case of it.
So it'll happen.
Yeah, it's like if there is no volume on layer one, then where
do the volume come from? And layer two, but I think first we
need to, like, again, like bring more liquidity, have more
stories to tell have sexier narratives here on Bitcoin layer
one, which I think that DeFi is one of it.
That's why we've been focused on it lately.
And once it gets bigger, it comes back to life here on Bitcoin Mainnet, then it's time
to talk about scalability, decentralization on layer two.
That's my opinion.
I don't know what everyone else thinks.
Yeah, I mean, I totally agree.
I think if you have things like...
Jack, you guys are creating
stablecoins that are backed up by Bitcoin.
I think ways to increase the liquidity is really, really huge.
So I think once a lot of that CDPs become really big, that's like a way to, because
you know, ETH had eigenlayer and CDPs.
And so basically CDPs are like you use the base asset to collateralize like more liquidity in a sense and then you had
the eigenlayer which was taking ETH and almost doubling it too because it's like you lock it up
there to to stake your ETH and so I think with Bitcoin it's just a matter of kind of creating
those financial tools to increase the liquidity. And then because that ultimately also benefits a lot of the Bitcoin holders.
And so if you can do that, it'll increase the trading volume, in my opinion.
Yeah, you know, in the U.S., we've got this talking point that has become a narrative which is like bitcoin is this
asset that's a store of value very few people are talking about bitcoin as peer-to-peer cash
and it's it's speaking to to the point of well how are miners going to, you know, what incentive will there be to mine the network
if there's no transactions? And, you know, that brings us to, again, the maxis. And I don't know
who appointed the maxis to be like the presidents of Bitcoin or like the high priest of Bitcoin or whatever, but it's nonsense. If you have small blocks, you have different issues with
making it an effective peer-to-peer cash. We have lightning, but we need more.
We need more. And that's where DeFi comes in. because the whole point of Bitcoin, I even saw a Maxi say recently, and it's, oh man, I wanted to run through my wall when I saw this.
I said, oh, Bitcoin's great for TradFi rails.
This is going to be perfect.
And that drove me nuts because one of the whole points of Bitcoin is that it's accessible to everybody.
And TradFi is not.
TradFi is not accessible to everybody.
You have people all over this world who don't have access to any financial services at all.
And that's the beauty of Bitcoin. You give everybody a chance to actually have a usable,
you know, stable currency, you know, and then when you're talking about stables,
the biggest users of stable coins are people who use them with, you know, and they're
geographically located in places with unstable currencies. They use them as a store of value.
So I think the Maxis are having some kind of weird identity crisis because they don't,
you know, they treat Bitcoin like it's their precious and their golem from Lord of the Rings.
And, you know, it's just weird dynamic, but it's counterproductive.
You know, this is an amazing network.
It's a decentralized network that can be built upon, that can be used, that cannot be censored, cannot be, you know, controlled by any one entity.
And we have to get past this idea of number go up
and and defy is a logical place to start you know this is the this is the place to really
that that's why we have defy primitives like you know i know we joke and say ethereum was the test net, right? But like DeFi, we saw it on Ethereum, we saw these ideas
of what could happen. And now we're sitting here in an environment on Bitcoin discussing things
and watching things being built now that will take and build upon the DeFi primitives that's already been developed.
But this narrative where Bitcoin is just a store of value
and you're just going to sit on it and everyone's going to hoard it
and the numbers are going to go up and it's going to be great,
that's silly.
Like, okay, yeah, I want Bitcoin to go up too, but I also want to be able
to borrow against my Bitcoin. Maybe I want to earn some yield on my Bitcoin. Maybe I want to
do these other things. And, and this is, this is where it starts. It starts with DeFi. It starts
with builders. And this is, this is why these are important conversations to have, because yes,
And this is why these are important conversations to have, because yes, I believe I saw, it was today, I believe, Jack Dorsey, the creator of Twitter, he was doing an interview and he's like, yeah, Bitcoin's not used like money.
money, that is like a potential huge point of failure for Bitcoin. And I tend to believe in
that because structurally Bitcoin does need to be used. And so the only thing we can do is build,
because we don't need anybody's permission. We're in a permissionless environment.
permissionless environment we need to build and we need to just win by offering superior
alternatives to what trad fi has to offer and to you know this narrative of oh bitcoin's just
a store of value no it's it's much more than that yeah i mean i agree i agree but i think
that thing that you mentioned is like really interesting. Like Bitcoin is not used like money. There's like this thing. It's like the Bitcoin is the digital gold. And I think that's not necessarily like a bad thing because it's like it's also like this first steps of people coming from Treuy into DeFi. You buy some Bitcoin.
That's how it went for me.
I slowly transitioned, I would say, a lot of my investments into Bitcoin from the traditional finance.
And now I basically hold all Bitcoin and Bitcoin related stuff.
And I think that's not a bad thing. But of
course, we need to do the next step, which is what you mentioned, like, I just I don't just want to
hold on to Bitcoin. Surely there's something like more interesting to do. If you're someone that's
familiar with financing, you might also want to play play games with your assets as well.
And I think DeFi enables that.
So right now, for example, on ThoughtSwap,
you can do more than just hodling Bitcoin or hodling runes.
There are many good vessels for investing.
The runes, the meme coins, they might seem like just memes but they
are good vessels for like creating value uh value you can like provide liquidity for some uh some
meme coins that you anticipate will have good volume and would eventually like come back to
its original price like in like the span of month, then you can go ahead and purchase it directly on .
You can earn fees, you can earn rewards, points,
and money.
It really goes back to the original price.
So, everything in, it like sets of the internal
. access on the internal and that's just one way to you know make the best of what you have
i think that's one bit that we contributed to making d5 work
i think yeah this is
this is a very interesting question.
I just want to share a comment.
Yeah, I totally agree with you, Dan.
I think Bitcoin is accessible.
Bitcoin has become a part of our life and everyone's life eventually.
And DeFi is the key to realizing it.
And that's why we are here for so um
we see i see room is here so how about you introduce yourself and tell us about more about yourself
gmgm everyone uh apologies i've got my am and pm's mixed up here um but yeah hi guys uh jeff here from roomind um we're focused on
building cross-chain infrastructure for the bitcoin space so you know we we see um a huge
amount of development going on on the bitcoin l1 in in a very short period of time you know since
the start of ordinals like two years ago the growth of uh functionality uh, you know, since the start of Ordinals, like two years ago, the growth of functionality and, you know, what is now turning into DeFi on Bitcoin has been growing at an
incredible rate. We focus on how we can utilize Bitcoin assets and also integrate them with the
wider crypto ecosystem. And we believe, you know, if you're going to have your assets originate in a digital
manner, Bitcoin is the obvious place for this to happen. And by taking these assets and then
utilizing them within existing DeFi ecosystems or building native ecosystems around them in
the L1, you know, this is how we see we see the streamlined approach to bringing more functionality to the
chain. We're seeing some exciting advancements happening on L1 with Ord 1.0 coming out very soon
and some of that functionality actually bleeds down into the room space. So as the functionality
on the L1 expands, that then multiplies a magnitude of order on L2
or the wider ecosystem space.
And that's very much somewhere that we're focused on
and we kind of see the future of Bitcoin DeFi
starting happening kind of more fluidly right now,
and then integrating further with the L1 space
as time goes on.
Yeah, man, congrats on the mine
launch like two weeks ago I think. Yeah it was amazing and we'd love to know like what plans do you have with RuneShop and I think that's also something people have been you know
interested in since you know it's a big thing here in the hm community as well they've been like waiting on the room shot and we've you know and co isn't also because of that
have been looking into it so i would love to know more about that as well yeah of course uh thank
you very much you know uh oh at this current point in time everyone's kind of battling market
conditions but we're here building and kind of pushing forwards with our roadmap um but yeah so rune shop will be coming out in the very near
future uh we've been working alongside uh teams a bunch of different teams in the near ecosystem
we'll actually be utilizing near very much like odin fun utilizes icp We'll be utilizing NIR for our functionality and to enable fast, cheap trading
while still having your assets native on the Bitcoin L1. This is something that we're really
excited to be working with many great teams. The NIR ecosystem has an incredible builders hub,
And everyone's been super supportive ever since we started working with them.
and everyone's been super supportive ever since we started working with them.
You know, there's definitely a few advantages.
Utilizing Nier, we're able to do wallet abstraction.
So to start with, it will be any Bitcoin wallets that we support.
And we support most major Bitcoin wallets.
You'll be able to sign in, create your account, deposit your Bitcoin,
and then utilize that same wallet for all of your transactions within
the ecosystem that we build on top of that this functionality can then extend it stand out to
wallets such like phantom or any near based wallet and you're actually able to interact with the
platform no matter where you come from or what what wallet you're used to or what chain, you will be able to deposit assets from those chains and then trade against Bitcoin assets
initially in a bonding curve. But also, again, the beauty working with NIR is that we will be
integrating RIA Finance from the get-go. So we will have liquidity pools available for existing
runes or as soon as runes actually escape their bonding code,
they will be automatically deposited. This functionality then extends to the rest of the
near ecosystem, allowing, you know, DeFi, borrowing and lending, leverage, trading. So this is really
kind of going to open up the doors from the get go to bringing, you
know, utility and more functionality to these Bitcoin assets, whilst making sure that the
original assets are stored and safely created on the Bitcoin L1 and keeping that provenance
between it all.
So, you know, we think it's really important to integrate in a way that brings brings more utility to the projects and to
the tokens that are being created on the bitcoin network but at the same time you know bring the
functionality bring some more excitement back and the whole way through kind of adding as much
cross-chain compatibility because we really believe like the future is where all chains
connect to bitcoin and you have your Bitcoin assets that originate on Bitcoin.
And then depending on what it is that you're looking to do with those assets,
you're then able to take them into whatever environment that facilitates that best,
whether we bridge them over to Solana to allow people to do fast and cheap trading,
whether we're utilizing near on the back end to, you know, increase the
functionality as we go. We really see this as the future. And, you know, it's definitely becoming a
growing trend. I've recently been seeing PubBTC, which is who are looking to utilize B&B chain.
So it's clear that kind of everyone's started to realize now that all these existing chains, all these existing tech stacks, like they have a place, but they only really have a guaranteed future if they start to integrate the Bitcoin network.
And this is something that the NIR ecosystem have been very clear on and have been working really hard to make that a core part of what happens in the NIR ecosystem.
hard to make that a core part of what happens in the near ecosystem. So, you know, it's been an
amazing journey working with those guys. We're super excited to be bringing this product to
launch. And, you know, one of the final focuses that we're really going to have on this is,
yes, it is going to be a Bonding Curve style launch, but we're going to be adding as much
functionality as we can, such as Twitter verifications and, you know, getting bubble
maps up and all of these different educational tools that we can use to reduce the risk or at least just increase the education
around what it is that you're more risky and more speculative investments, knowing that it's still
connected to the Bitcoin L1. But if we can provide that extra level of verification and, you know, just a little bit more insight into what you're
getting involved with, we're hoping that we can kind of manifest this Bitcoin ecosystem
attitude towards these token launches. And, you know, I think this is definitely something that
has quite a different opinion to like the Solana ecosystem where it's like this full kind of
gamble and degeneracy and we're trying to kind of bring that to bitcoin but with you know the
the same attitude that bitcoiners have as much as we can you know so that's really kind of where
our focus has been with this we're super excited and and the real beauty of it is is it creates the
building blocks for so much more technology afterwards, which can then be further integrated.
And, you know, we'll be launching there on our main bridge
and connecting that with Solana and all of the other blockchains as well.
So, you know, it's kind of really,
RuneShot is the first stepping stone into a huge expansion into this ecosystem.
Yeah, that's amazing. That's amazing.
And I think it's not like you're competing against us in an AMM swap because, come on, a launchpad and an AMM swap, it's like a match made in heaven, a match made in mempool, maybe.
And also, this is not like a zero-sum game. You create more tokens, which is first inherently means more transactions in the mempool.
So that's good for their current situation.
And then with those more tokens, it's like there's more vessels for people to trade,
to pump, to flip.
And that means more volume, that means more transactions.
And that's good for a swap like us, for an aggregator like uh like uh sats terminal and then it could be like eventually
good for uh stablecoin teams like hermetica because people might want to cash out more
uh of their big points so yeah i think what you guys are doing is really amazing job yeah 100 we
i think that zero sums game is such a big point, especially in the Bitcoin ecosystem. You
just look at the value of DeFi, the value of NFTs, the value of everything on Ethereum and Solana,
and these quite often match basically the market cap of the tokens themselves. And then you look
at that on Bitcoin, and we are a tiny, tiny fraction of what is possible. So we really
believe that there is no zero sums game when it comes to building on
Bitcoin. And that's why, you know, we're super keen to work with any other teams and, you know,
see what we can bring to the table together. Because at this point in the growth of the
Bitcoin ecosystem, working together, you know, we're going to bring much more excitement to
all projects in the space, rather than having to worry about who's going to be the kind of the dominant project.
Because at this point, there's so much room to grow.
Just getting more users in and getting more users interested is great for everyone.
Brings liquidity, brings creativity to the blockchain.
And that's what we really want to see at this point.
really want to see at this point.
Yeah, that's great.
Yeah, that's great.
Ladies and gentlemen, this is Rumai,
who is aiming to make the ecosystem better.
Good job, Tim.
So let's back to our question.
Looking back, has the Bitcoin ecosystem experienced
a situation like current one after 2020?
And how did people get through it back then? And how did people get through it back then and how
should people get through it now? I'd love to hear Universe's opinion.
Sorry what was the question?
Hello? Yeah just go on.
Sorry, I'm having a bit of light here.
What was the question?
I didn't understand it completely.
No, I think, like, the network is a bit, like, broken right now.
But maybe Cyclops has something to say.
And guys, you guys can jump in if like you're you're found something interesting
in the answers yeah go ahead yeah so i think um it's exactly what room run was saying it's
the network like when you look at the total value that's on bitcoin versus how big we are
it's not really in anyone's interest to turn it
into a zero-sum game or even think close to like a zero-sum game even with ordinals and even with
like um just like protocols in general like because like i i've come from other ecosystems
where it became like really tribal and they're fighting over a small kick and i think
it doesn't look like an inviting space to other people from outside and like if you're just thinking bigger it's like it really should just be like go after like the nearly two trillion dollars
on the whole chain as a collective like you'll make more money that way like i i always just say i'd rather be
like a mid-sized player in a gigantic mountain than like king of an anthill so it's like i'm i'm
just all about like there's a ton of money out there there's plenty to go around i don't you
don't like i think it doesn't serve anyone well to think of it like as like at this stage like maybe if we were like
a hundred billion dollars like it would be different but like right now it's it's it's
just so small and there's just so much potential it's it's like the more you the more anyone fights
it's like the less everyone's gonna make in my opinion yeah and to your point
you know the more things that get built the more innovation occurs because of that building because
people are basically just putting building blocks on top of building blocks and creating new fly
wheels and that's what brings volume back to the market. It's when you get, again,
like, so we're sitting here with DotSwap. I remember the first time I ever used Uniswap,
and it was just this completely just new experience for me. And everything was just,
all of a sudden, there was just all of these different De was just you know all of these different d5 protocols to to to play
with and you know soon after you had your first l2 really take off and on ethereum and and we're
going to see these same things in the bitcoin ecosystem and like cyclops said it's going to
be much larger because there's there's much more liquidity here. I think Ethereum's market cap
during the peak of DeFi summer was, I want to say, like $500 million. It's been a while, so
I might be off on that. But anyway, it was a fraction of what we're dealing with here on Bitcoin regardless.
And that's the whole thing.
No, get out here and build and build and build.
Because again, I'm sure most people in this audience, I'm seeing a lot of ordinal collections in this audience.
When ordinals hit, it was this beautiful new thing that you could do on Bitcoin.
Just being able to store data on Bitcoin in this way changed the whole game. And then before you know it, you had BRC20s. And before you know it, you had runes. And it's this kind of innovation
that brings volume. It's this kind of innovation that gets people from other ecosystems to be like,
oh, wow, what's going on on Bitcoin right now? Let me go check that out.
And then these are the things that become the meta and become the new narratives that people
explore. And that's how we evolve and grow in this space over time. So no, the more builders, the merrier, because this is what we need.
We need more innovation. And I think eventually everything comes back to Bitcoin anyway.
I believe RuneMiner was talking about that a little while ago. As other chains kind of accept
that being able to settle on Bitcoin is really going to be the gold standard
when it comes to anything related to blockchain.
It's all coming here anyway.
So if anything, we just have a head start.
You know, we're ahead of the curve in that way
and that we're already using Bitcoin in ways that, you know, no one was
thinking about using it two years ago.
And that's how we get the best things here now.
Everything gets iterated on in this space.
DeFi, NFTs, you always see the first version and then you think, okay, that's dead.
That's not coming back. And then, no, no it does it just doesn't look the same and we have so many more raw materials now to
work with um no this is this is the right place to be working right now and and that's how you have
just these golden bull runs that that are just so much fun. And, and, you know, the reason why everyone,
everyone's really been here as an early adopter. Um, that's, that's where we're at and that's,
and we're going to have that again. And so, yeah, just, just build network and, and stay with it
because, um, you know, being early isn't easy. That's why most people aren't early. You know what I'm saying?
Like if, if being early was easy, everyone would do it. And we're, we're early. So we just have to,
we just have to keep at it. And we're going to see some magnificent, you know, innovations coming
soon. And, and it's going to continue to change the game.
And that's great because now we're competing against TradFi
and we have to win.
And this is how we beat them.
Yeah, I agree with that.
And also, like, because I was like an avid user of DeFi.
Like, I originally came from i like i spent time
on eth and then i spent some time on on cardano and like i think the from a user perspective
it's like you want a whole bunch of different deep you want like 10 different like lending
platforms you want 10 different decks you want all these things because when you're like an avid DeFi user, you're trying to find ways to earn yield and like ways to earn or get interest on like lending throughout like different markets.
And like each lending platform is kind of like good at a certain thing.
It's when those like what I've seen firsthand, like, you know, like when a lot of them died, like the competition died on ETH.
That's when like less people started using DeFi.
It's just because it's like, it just becomes, it's fun to try to figure out all those ways to like have everything synergize.
And like, it just, it's really, really not fun when it gets monopolized.
Like I saw that on other ecosystems and it just it just kills it like i think you you have a because there is so much money going around and if you look at trad
fi there's like a hundred different ways to use your money in the trad fight ecosystem and you
want as many possible ways humanly possible in in defy uh and so like other chains help but like the more you can have on
bitcoin i think it's even better because you just have so much value that you can unlock
yeah i just want to like highlight a bit on like the the whole the whole crypto history
that the last time it was 2020, the half of Bitcoin.
And then I think we saw the highest peaks of Bitcoin.
It was like one and one and a half year after the halving. And now we are at this current moment, we're like one year into after the Bitcoin halve.
So yeah, I say we're early and we could see some potential growth as well
and then for d5 summer it also started around the time of the bitcoin happening which is around 2020
and it like i think it was also peaked and then cooled off by 2020 so yeah it was like that one
year after the having we could see some like uh big peaks and then people are rushing towards
d5 because they have made money they want to make more money from their money more earned yields but
of course uh history doesn't always repeat itself but we can see it it often rhymes with itself so
yeah there are some uh things that we can anticipate here next in the Bitcoin ecosystem.
And one thing I agree with Jack, we are definitely going to see some big innovation here in this
year, whether it's like upcabbing enabled on Bitcoin, which was something that we really hoped that would happen.
Or it's something completely new. It was this new big token standards. It was this new big
DeFi product everyone rushing into. We are ready for it. We are preparing for it. That's why,
you know, we've been constantly updating dot swap with our V3 uh features and the next upcoming v5 version
uh we've been talking to teams like you guys and many other teams who are interested in it
uh hopefully this is a big launch hopefully we can have something that people are interested in
and impressed by so yeah yeah yeah i totally agree i agree with Jack and Cyclops' opinion that basically we are pioneers, that we are gathering here to build the Bitcoin ecosystem future together here. Dotswap just launched with version 3 feature which can handle 25 tracks per block.
So apart from this feature, what else features are newly upgraded and how do you guys realize
it and how it can help users in the future of BTC Live?
And maybe a little hint about V5, please.
Okay, thank you. So yeah, I think the biggest change,
the biggest update of V3 or version three on .swap
is that we created this thing called Big Win Channels.
It's inspired by landing networks,
which is two people locking in some amount of assets to create a channel.
They settled their transactions elsewhere, and only when they decided to close that channel
do the transactions go on Bitcoin mainnet.
And we took some of it for inspiration and we said, oh, you can log in certain amounts of assets with .swap into this 2x2 multi-sig,
and you put a time lock on it
so that everyone knows no one's going to rock it.
And we provide the whole unlocking script to the users
so that they know that they can always get those assets back.
And what that enables is that you can now,
because we know you're not going to double
spend it, so we allow it to be able to use in swaps up to 25 transactions in one block. So I think
that's going to help in the current situation where there's not many transactions in the
main pool to begin with. But I think when it gets busier because of how the transaction works, it really can make more frequent, bigger trades possible here on Bitcoin.
And that's the biggest feature update.
the way for the upcoming v5 update on dot swap which is something we think is really going to
push the narrative of decentralization of d5 on bitcoin it's one big leap that we think is going
to make towards that direction where you can have more decentralized, more trustlessness, more permissionless liquidity providing and
trading here on Dotswap.
I hope and I ask everyone to at least look forward to it.
We are going to announce the details later, whether it's on X, whether it's in our communities,
or it's in a private call with us so yeah if
you're interested in it uh bms are open or we will contact you please pick up the phone and we will
tell you how you can get in on it how you can how we can all benefit from it so yeah
yeah that sounds real great we we can all stay tuned to the new v5 version of of dot swap and i saw
room i just rest your hand you got question right
uh i didn't but um but yeah super excited to see uh what you guys are cooking up there. And, you know, to bring that kind of more usability
to the Bitcoin L1 is really, really cool.
So, yeah, we're super excited
and definitely going to be playing around ourselves.
Yeah, thank you.
And so maybe today's space is nearly to the end time.
So who else got any questions?
Please raise your hand.
If there's no questions, maybe I will end the space now.
And before that, I'd like to make a brief conclusion and maybe some personal thinking
about today's space.
So although the current Bitcoin market might be miserable and many people are quitting,
breaking down, there's still something new, something fantastic out there growing. And no matter if it is new chains, new cryptos, new networks, whatever,
just believe that there's still hope and future of Bitcoin.
And left alone, we have DoSWAP, Universe, SES Terminal, Hermetica,
Grumline, this outstanding stalwarts here.
And we are still innovating, cooperating to make
the environment better. And you may see many projects active during the bullish, but remember
those who are still active in bearish are those who are really care about this ecosystem.
And just don't forget why you entered this BTC world. And BTC is magical,
and you guys are magical. Just keep on moving and dreaming. Yeah, so huge thanks to our guests today
who are presenting here, and all of you who are being in the audience to join us and listening
to us to speak about our opinions. And thank you for taking your valuable time to be here in this dark period.
Stay tuned to Bitcoin Space.
And remember to follow DoSWAP, SETS Terminal, Universe, RUMI on X.
And see you at the next Space Dive.
Thank you, guys.
Thank you, guys.
Shout out to you guys for coming up.
You guys are magical.
Team.
See you on the next one.
Thanks so much for having us.
It's a great, great time.
Great conversation.
Thank you, guys.
All right.
Thank you, guys, for coming to another episode of .swap live.
We hope they do this more often and put out more educational content on what it means
to like trade on Bitcoin as well.
Yeah, so if you have any questions, please comment down below or like just DM us.
Find us in our talent groups.
We'll be able to help and we're going to end the space now.
