Yeah, sure. We're waiting for other to join. I think typeboards should be coming in the meantime
I want to do a brief introduction to today's episode though.
So the atom the atom we're going to return is expanding with the purchase of security.
We have already four chains line it up to join the 80 either an EVM compatible blockchain
focused on atom Alice network a perfect lens light expanding NBC to avalanche
a Bitcoin liquid staking protocol. Today we will dive on Alice network so today there is
the co-founder of Alice network which is here is Esham so welcome Esham.
And we have also Mitchell which should be coming soon on stage.
Hello hello thank you thank you.
Okay I'm super excited for this episode because actually I don't know much about Alice network
yet so I'm looking forward to know more today and actually this was like a flashlight like no one
so Alice network coming it was a super exciting announcement so I think the community is very
excited to know more about Alice especially because in the previous consumer chain announcement
we had a forum post explaining basically how the project will share value with atom
while right now we will basically discover it today. So before going with so many important
questions I would say please guys introduce yourself.
All right thank you Rob I really appreciate that my name is Esham I'm co-founder
and growth lead I also handle BD business development at Alice network.
I met the rest of the founders over the last three four years I would say
because we saw a lot of value in the cosmos right we were very excited about atom we were
excited about the cosmos SDK tech stack and so we came together and just invested in various areas
or got involved in defy and started really getting excited about the space not just in
defy but in terms of several other sectors in the space. My background is actually in the military
so I'm Air Force Academy graduate spent 22 years and counting in the Air Force. I'm also a pilot
on the side but I do currently working with Alice network full-time so I'll pass that over to
Mitchell. All right yeah thank you yeah so my name is Mitchell based in San Diego California
just a few hours south of sham and yeah we met near nearly four years ago and we always you
know we involved in you know several doubt councils and talking to validators and some
projects you know internally as well as well as being part of the communities and it's
it's one of these things where you know we did notice a lot I think needed to be done but
there we were such big fans and so you know I have my background is more entrepreneurial brick and
mortar I have a one exit in 2015 which was a successful coffee and tea bottling company
and then I have you know restaurant chain on the western United States as well but my passion has
always been web 3 and defy 2015 2016 when I sent my first ethereum payment I'll say kind of
regretting that one but ever since then I've been deep into the space and I found Cosmos
around the same time I found polygon but Cosmos grabbed me and the community grabbed me and the
tech grabbed me so I just like the sense of family here and so when we were deciding where to build
it was absolutely Cosmos and it's just been super super exciting was your first ethereum payment
like a pizza Bitcoin moment or that's why you're regretting it
well I'm just gonna go and tell you that I did pay in Bitcoin as well shortly thereafter
I was actually looking for medicine for my father-in-law it was life-saving medication
that I couldn't find in the States we were I was looking in Canada it was kind of tough there
but these are $50 a pill and he needed to take one every day hard to find and so I did find one
abroad a pharmacy and I sent my first payment after looking at the website and it said alternate
form of payment and that was in December 2015 and I and it said BTC LTC and ETH and that
that click right there changed my life I knew right then that you know I started reading about
Coinbase I you know how to get the you know money into the you know onto the exchange and
send it right away and and once I did and I watched the confirmations and I learned about
ether scan I mean I was just looking at all of it and I got really deep into it and I started
reading more about Bitcoin and and right around the time I was doing that I had already had an
issue with amortization schedule on on a mortgage when I saw that on the back end they're making
almost like double so there's just so there was like a lot of unlevel playing field so I saw this
as a way to you know bring you know level out the inequities and so it was just something
that was kind of yanking at me from the inside and so when I saw this and I started reading
about it I thought this is this is it this is what I need to do yeah I have to say that's one of the
most uh hero blockchain origin story that I have heard so thanks for sharing it was was actually
very interesting in the meantime we have also time work that joined us so a time work feel
free it wasn't to introduce yourself hey guys uh I'm Thai Borg Tebow in real life
and I work for informal systems and I'm happy to be here I'm a director of strategy now at informal
systems and yeah thanks for inviting me to co-host Rob yeah I'm super excited to have you here also
because we have probably a lot of insight to share as well to with today episode and I actually
wanted to ask if uh what do you prefer to be called a Thai Borg or T-Borg so it's T-Borg
like the goalkeeper for Belgium I don't know if you guys like football or soccer um but the name
is T-Borg and uh either way it works uh let's go with Thai Borg since that's what people see on
the screen yeah that's cool I guess that that's more more uh English friendly compared to T-Borg
uh so I think we can start now and maybe let's start with uh an overview of Alice before diving
into more uh pressing question on uh atom value etc so yeah please share uh an overview of Alice
network all right thank you Rob and I appreciate that um very um humbled and honored to be on
with you on atomzone um uh to start off uh the last few weeks have just been an absolute
just amazing um growth that we've seen as we started to kind of execute our strategy here
to go towards mainnet launch so we're thankful though for this opportunity to talk about Alice
network and obviously will always be available um whether it's uh here on twitter or whether it's
on discord or telegram we'll do our best you know anytime afterwards um to get in touch with
anybody from the community who who wants to know more but to give a quick overview about
what else network does and what our mission is we are the cosmos hubs next-gen decentralized
perpetual trading and all in one defy app chain we are the first of our kind to partner with the
atom economic zone joining through the partial set security construct that should be launching
in the next uh eight to twelve weeks our motto and our ethos is sort of like basically to trade
like a centralized exchange but with all the benefits of defy Alice network is built for a
seamless user experience to bridge the gap between web two and web three to help onboard new users
and to bring experienced users from other platforms also for a better user experience
so our features of in our all-in-one app include spot trading perpetual trading simple staking of
usdc and leverage lp we'll be adding more features as we move on to phase two and phase three of our
roadmap which will include things like uh ai tools such as ai trading bots and some premium
features that can be added as well as well some additional integrations that we'll have with some
of our partner layer ones that we've already agreed to with our partners in the ecosystem
so with that i can go into some of these in detail i guess as we hit each section
but our goal really is to bring users into our app and provide all of the different levels of
defy functions to allow them to work on the same app without having to maybe interact with
a prep decks on one chain and then maybe go do their spot swaps on another chain and then maybe
go do their staking somewhere else so we want to be able to have a complete platform for them
especially for somebody who's new to the space and then for those who are very very comfortable
in the space and experienced users they will just find the experience to be a lot less cumbersome
or a lot more user friendly with a great ui a great ux and allow them to kind of continue to
to consolidate their their assets in one in one place
yeah this seems a great plan and also for how long ellis network has been in production like
is it one of the projects that has been building during the bear market
that is a great question so actually we did get started at the end of 2022 with the idea when
the founders kind of got together and decided that we would try to tackle some of the the areas where
we believed that defy could really shine you know our biggest kind of notes that we took down
from community members that we spoke with and a lot of our friends and family was that you know
i really think defy is is fantastic i just don't know how to use it and i don't know how to get
involved and i don't know how to safeguard a wallet and i don't know how to you know
list your ends of functions right it was it was very difficult for somebody who wasn't familiar with
the space already or wasn't didn't have the time or opportunity to get really well versed in it
they just didn't know where to go and how to do it and so we saw that as really such a huge
barrier to entry um so that was the end of 2022 that we decided we kind of put the vision together
um started up a community and then started the role with it we didn't incorporate until the
first quarter of 2023 and then we launched our first chain testnet uh in march of 2023
so we're about a year old officially we did just hit our one-year anniversary and shortly after
a one-year anniversary we opened up our public testnet with our web app so that users could come
and interact with it that's available at testnet.ls.network we invite everybody to use it and
as a reminder you can also sign up on bonus block to get additional incentives for the retro drop that
will be given out for those users who participate in the in the tasks and that those could be done
daily we're excited to report that in just one week of testnet we have 72 000 users which is
just kind of a testament to the strategy that our team took to develop the product to be really
really uh you know functional and beautiful and really a great user user experience for those
who come on and use it and that's been validated by the fact that the average user spending
7.2 minutes per session engaged with our web app which is quite high um especially the tasks that
we have put on our bonus block really only take about let's say 30 to 45 seconds so
it's really fantastic that users are coming onto the web app and actually spending a lot of time
on there visiting different places looking for bugs you know trying to be very very thoughtful
and helpful in how we can improve the app so that we can have it fully ready and polished for mainnet
launch yeah this is great i think that also shows that you guys have a vibrant community
which uh which usually happen when projects actually are very active in bear market because
there are still a lot of users in this kind of market but you know sometimes projects are not
very active anymore or don't communicate i think this is also the result of your guys work of
being constantly active during this period so congrats for doing this kind of contribution to
the blockchain system especially for leveraging the interchain technologies i want to go a bit
back on the fact that uh there are four upcoming consumer chain and uh most of them have been
onboarded by informal system so i think maybe tybor can share a bit on the onboarding process
that they have been made for partial security how this is changing compared to replicated security
yeah uh yeah just first on the testnet since uh since ash i was talking about the test and i did
try the testnet this morning and i also liked it quite a bit i thought it was very smooth i did get
my uh usdc and uh and ellie stockins and now after this call i'm gonna see what i can do with
i think i can swap i think i can stake and i think you guys are enable more features uh as we go
right yes we'll be releasing a new feature tomorrow so stay tuned for that announcement
okay and so how how many new features uh do you guys have in the pipeline for the testnet
so everything on the header uh that that is not enabled right now so that'll be perpetual trading
leverage lp uh on the pool side once we enable liquidity mining we'll also have uh two different
types of pools which will be the amm uh pools as well as our dynamic weighted pools and then
our multi-asset pools our molecule pools will be included in there as well
nice and when can we expect uh virtual trading do you have a timeline for that so we have a um i believe
it's a 10 phase rollout for our testnet the reason we do that the code is actually ready so anybody
who wants to take a look at the code and work with it on from the cli uh can do so by looking
at our github we have all of our code is open source of course so we are very committed to that
um but as far as looking it up to the front end the reason we're doing it in phases like this
is uh to essentially really streamline and make sure that we have a good collated method of
collecting feedback from users we want to make sure the users are testing the specific functions
that that we put out for each phase more so for our devs to really kind of have the
bandwidth to collect all the feedback and work on any of the bugs or any of the suggestions
that they receive from the community so it's really more of uh more of like a like a focused
effort just to make sure that the that we're getting the information in a in a really well
organized way so i would expect perpetual to be ready uh you know sometime in the next like three
to four weeks when we unlock it and that would just be based on when we finish collecting and
and uh implementing all the fixes um that we're collecting in the current phases
nice and and just i'm curious like what kind of feedback did you get so far from from users
uh we're we're very very um pleased to report that most of the uh you know the the feedback
that we get from the users has been has been absolutely positive i mean everything has been
you know we love the login options the the account abstraction we're actually very uh
very excited to actually see that um you know even though somebody can still connect with a
traditional wallet like a wet three wallet like kepler cosmo station uh and leap and they can
also um soon soon to be metamask snap will be added to that list we're finding that a lot of
users are actually taking the social login option so uh you know let's say uh like a reddit or uh
or twitter login or google login we'll be adding uh so one of the one of the pieces of feedback
we got from the community was to expand those login options to include apple id and telegram
so we're working on those uh and then from the actual um ui side really it's just been
kind of just display anomalies uh we're very very like happy with the fact that like nobody's
really saying hey you know i wish that the dashboard looked different or i wish that uh
you know the swap functions uh had or the swap page looked different people are almost
overwhelmingly very satisfied with the uh with the actual layout the actual functionality the ease
of use um i probably are our our biggest feedback so far is just the faucet um and that's
really because 72 000 people are overwhelming the faucet but we will uh we'll keep uh we'll
keep making that faster and we'll keep trying to um you know accommodate the uh the huge demand
we're getting and that we've we've come up with some other ways to to get people some
additional tokens such as visiting the circle faucet on faucet uh circle.com which they can
actually use to test our ibc relay so they can grab 10 usdc per day from that website uh throw
it in their noble address which uh is very easy to find if you're logged into our web app you can
actually just hit on the deposit button transfer uh in and then you'll find your noble address
there you can copy it over so fairly easy to do takes about 10 seconds um you know i use
it almost every day just to make sure the ibc relators are are efficient um so yeah so so far
feedback has just been absolutely positive we're we're looking for we're looking for the critical
feedback if you're if you're a user who likes to be very very critical uh likes to come in there
and and break things you know we want you we want you on our testnet right that that's the
most important thing to us we want the most uh you know uh unusual edge cases or we want the
the the most uh you know detailed um review of our web app because the goal is to make it
perfect right we want to get it to the point where it's it's so polished and so ready to go
that everybody's super proud of it when they get behind it for me in that launch
nice cool well i will resize my chrome windows a couple of times and see uh
see if i find anything so i can complain in terms of answering uh for partial security
and uh rapid security so obviously the big difference is that uh rapid security is for
the entire validator sets there's a hundred percent overlap between the cosmos hubs and the
consumer chain validator sets so the process um the difficult part of the whole process was
basically to go through governance and make sure that enough of the validators of the customer
set and also the partners as well but in general what you know makes or breaks of votes are the
the validators um and so a large part of the process for neutral and stride was to make sure
that we had enough radiators on board that would put yes for it um and ultimately that was very
successful because i think both of them passed with flying colors i think it was 95 for the first one
and even more like 99 for the second one which was tried now for for partial security the big
difference is that the validators will opt in meaning people that want to validate elis network
all of them will choose to do so so we don't have to to go through that obviously elis is
encouraged to talk to validators um and promote themselves to them so that uh you know they
have the best fun on the on the set uh but from the informal side we're not as worried the gamers
will not as engaged with the validators as we were with the two first chains um now in terms
of technical onboarding the uh onboarding of neutron was quite uh quite epic uh and lasted
several days i think the war room was uh straight up for uh for about three days i hope it won't be
the case for bss chains uh the uh the you know the process should be smoother uh but we haven't
done it yet so we're actually waiting to see uh what happened with ether and elis and you know
we're very glad to have these teams help us debug and make sure that everything is smooth
so that security it's really great to be included in this discussion and once we're able to i think
you know move our set over to the to the test net for partial set security i think a lot of the bugs
will be will be sort of already worked out in advance before mainnet launch since we'll be
able to have that opportunity that maybe some of the others may not have had the chance during the
ics rollout especially if they were already uh you know uh autonomous layer one chains when
they have the transition over so i think i think that that would be a little bit of a smoother
process for us to launch we're already very excited that so many cosmos hub validators have
actually reached out to us and asked how they can help and how they can get involved so we
actually onboarded several already on our validator set and that's really important
for us because they're going to get familiar with our binary they're going to get familiar
with our github they're going to get familiar with our procedures the way we communicate and
that's really important because those are all kind of cultural norms that each you know each
blockchain kind of has developed although cosmos in general has very good standards that we like to
follow so really excited about this super super optimistic about what we can do to contribute to
the atom economic zone obviously this idea is really adding to the actually i have a question
there specifically to alice and the atom economic zone because one of the things that i saw when you
guys see the announcement is was some spicy comments says oh well another perplexing cosmos
which i don't actually agree because i think that the goal is to have more uh uh perplexed index
than checks especially when it comes to users and there is a reason if most of them are in
cosmos because the technology is probably better designed for this kind of application
but anyway the question will be what do you think is the point of advance of the of advantage
that you guys have by launching a perfect x in the atom economic zone that's a great question
oh yeah go ahead mitchell you want to take that one yeah i mean i think i think there's a lot
of perpetual taxes there's there's a lot of taxes in general right the thing is is you know
as we've been interacting and we've been part of the communities and we've been pretty deeply
involved in other projects and while we hats off right thank you for pioneering paving the path
for us and for everybody else you know to get involved but just like with anything when you're
interacting with it you say wow this is really awesome and you start to notice and take notes
on things that could be different and so you know i think right now everybody is taking a look at
the app and how you know how smooth the ui ux is and i you know i agree i think it's nice we've
really done everything we could we've bounced the you know the design off of of many groups
and many many traders over the last you know 15 months and and this is what we ended up with so
we're absolutely glad that we put our best foot forward there but i i think like you know on
the back end where we took the most notes and something that took us even a little bit longer
to develop and design is the tokenomics and so when so so yes perfect but we have we really spent
a lot of time on the tokenomics i mean forecasting looking at the top economies in the world
where you know there's a couple hundred economies in the world and very few of them are actually
successful so to think that it could just be designed you know in a few weeks or a couple
months um or at least for us it took us a lot longer then we really had to you know start and
and look at from the bottom up the end user and how it's going to affect everybody you know from
the initial investors to the end user and make sure that we have a you know a net you know for
everybody no matter when you enter and so it's far i mean and it touches on everything it helps
bring liquidity right and that's what we were initially doing before we knew that we're going
to have this partnership with the aez the biggest thing you know like any DEX wants liquidity and they
want users they want to make sure when the users get there that they're taken care of right they're
not going to get diluted and stuff like that so you know i i want to go ahead and say that we are
very very you know thankful for for every everybody that's participated in projects and they're doing
it right now showing what they can do and this is what we can do and this is our version of
what we think can take care of the community and help grow the community um and i we want to make
sure that everybody feels you know noticed and heard and their word you know from govern from
governance to even before governance you know right now when they're reaching out to us so
and this is all because we've been here in the cosmos and we know what it's like to be in the
community because we are the community right i mean this is it it really is grassroots i would say
ellis is pretty grassroots and so um we try to hit every detail but like as prescient said you know
we want to hear everything so if you have you know criticisms or you know even if everything's
going great and you know you got to be this squeaky will be this squeaky will we want to
hear you we want to know what's on your mind we want to know how we can adjust and adapt to be
better and you know if uh this is a whole community thing so like i said we're putting
our best foot forward but we absolutely need the community to do it and we're super thankful for
that and i think the big you know the big pat on the back and the wind at our backs is saying wow
we really did everything we could for revenue generation right and that is taking the two
types of success which is you know a project which one sure token value absolutely there's
lots of reasons for that to happen it's pretty fun some speculation some there's really good
reason but on the other side the other side of success has to be there too which is you know
value utility an actual product with an actual service um and so that's what we were trying to do
and so we're very very thankful that we get to you know bring this aboard to the
economic zone because we took the tokenomics extremely seriously and i think over time um
it's going to show that yeah so since we are into the revenue generation topic i think
it's uh it's uh it's time to ask how actually elis network will share value with autumn because this
is probably one of the main question that we have been getting it since the announcement
so if you can guys we'll we'll be able to share some of this that would be great
yeah absolutely happy happy to definitely talk about that you know it's so we so you know
to the point about uh you know whether we are just a perplexed you know the reality is we're
we're an all-in-one d5 platform so we have a wide range of d5 functions for users to use and that's
really our value proposition for a user to come in and and spend time on our platform is that they
can consolidate all the functions that they would normally have to piece together on several other
chains they could just do it to kind of construct a really diversified portfolio or take different
various various risk levels express various risk levels or risk tolerances on our platform so
we have multiple revenue streams on our platform so that includes you know the fees generated from
swaps the fees generated from margin trading the open interest that is charged on that as well as
transaction fees will have potentially bridge fees in the future depending on how that gets
coordinated as we expand our bridging options and then we have also fee collection from our
partner chains that will be integrating their services onto our decks so we have a lot of
different ways that revenue comes into LSE network and that users can benefit from LSE
network so it's a really great cooperative constructive platform and that's how we're
going to generate a value add for the uh add an economic zone so we're very very excited about
this partnership for with Cosmos Hub because we believe that we as Mitchell alluded to we put
a lot of thought into the design whether it be tokenomics whether it be how we collect revenue
whether it be how we share that revenue so in the coming weeks you'll be seeing
our proposal that gets put out when we put out the comment period and that'll be discussed on
the forums what our proposal in terms of revenue share to the Cosmos Hub will be and that
revenue share will come directly to the Cosmos Hub to be distributed to uh Stakers of Adam who
are on the validators who are sticking with the validators who are opting in to validate
for LSE network so it's a really great value proposition for those who want to get involved
because we do send a portion of our revenues to the Cosmos Hub along with some of our
missions as well so it'll be a great opportunity to take this chance on LSE network as we start to
grow our community and start to collect revenue from day one and we believe we're well positioned
for that we have a great strategy going forward we're you know as we as we start
aggressively going towards our launch and building out the community you know we're only at 30,000
Twitter followers now but we built that in only a few months so you know we could see ourselves
250,000 500,000 million followers at some point being able to have just a few people you know
just even a percentage of that on our platform at any given moment would generate huge amounts
of revenue that comes back to the Adam economic zone and I think to your point you know about
what why we're even looking at partial security as a ecosystem versus ICS is to give more
optionality right so maybe Stride and Neutron had it fit their their model so much better to
to have the complete Cosmos validator set that may be changed like ours who are just launching maybe
might benefit from a smaller set so it's a great level of optionality for those who are thinking
about building within the Cosmos ecosystem to now kind of right size their model and decide whether
they want to go ICS the original version or partial set security or upcoming mesh security
autonomous layer one or be a dap so a lot of different you know ways to essentially express
your view or build your project and that's really fantastic and that's why we're so bullish on the
Cosmos hub in general we think the Adam economic zone is going to win for sure right but the model
is exactly doing what it's supposed to do which is really provide optionality for so many different
people who want to join yeah I can assume that there could be some competitive advantage
uh time or good do you want to share something yeah two things first I second uh what Asham is saying
that we want to make the VAZ the best place to launch a Cosmos chain in fact we want to make this
the default place to launch a Cosmos chains like people should say I'm going to launch a Cosmos
chains I'm going to launch on the ASE first maybe I'm going to become sovereign after a while
you know maybe I make different decisions uh after some time after I get traction after I get
product market fit but from the get-go you know we want to make it so easy that people think it's
just the base option to launch as a PSS chain or as a mesh secure chain. On the economics Rob because
I think that's a very interesting topic so we're still figuring out exactly how that's going to
work because it's obviously different from the rapid security economics where the the consumer
chain have to reminerate all the validators and all the delegators I think what's uh what's
really interesting with PSS is that there are going to be some some aspects of game theory here
involved because the validators that validate the chains on PSS will be able to give their
delegators extra revenue that's because ideally and that's how I see it and we have to discuss
this economics with all the PSS chains and see what they think about it but what I would like
to see is that the delegators of the validators that participate in PSS are getting more than the
rest of the customer subcommittee and that way what we want is that the validators feel uh you know
encouraged or incentivized to participate and ultimately the ultimate goal would be that the
smaller validators almost you know validate all the PSS chains and maybe the bigger validators
validate less of them and that way um because the revenue and the yield that these
delegators are going to get is going to be higher the smaller validators should go up the set
which is something that's uh you know has been a problem for the customer sub since the beginning
cool and uh I think to summarize what uh what I've been hearing is uh this evolution also
of how chain will approach to Cosmos sub because if before we had first the proposal on the forum
and a wide discussion with the community in this case the process is more fast because I assume
that PSS security will also have some kind of permission less onboarding uh maybe John
can correct me later but anyway it's a bit different so actually uh I also understand that
now there is this uh kind of uh integration announcement then it follows basically with the
proposal so basically the information will arrive but in a different way compared to the PSS security
so I think that this kind of space is it became also even more insightful because the community
the community gets start to basically get information from how the consumer chain
leveraging partial security will share value with Cosmos sub and what kind of product they will
bring uh so John is this correct or something for example Rob but just one one more comment here
I think something that's uh delegators on the Cosmos sub should definitely have in mind is to
pay attention to the value that they delegate to and if they like a consumer chain in particular
say they like LS a lot they should make sure that their validator is participating in the LS
test nets and then mainnet because otherwise they will not see or at least they will see less
income from LS than they would otherwise and I think you're right that we should do more spaces
and probably there are going to be you know several models being explored for PSS maybe
LS model is not going to be the same as Ether and not going to be the same as Landslide
so that's all the more reason to pay attention to this consumer chain in particular because
they won't have the exact same model yeah super cool especially because right now I have to say
there is basically a new announcement every week which is quite exciting because for a long time
the community has been complaining that things were getting boring but now I think that
the excitement is coming back with all this new project aiming to leverage the
atom economic zone also because I think that both Asham and Mitchell shared some very good
insight on why they are going to leverage this atom economic zone and I think one of the biggest
advantage will probably be the alignment between project also because if also we are having a
Bitcoin liquid segue coming that's that is going to be lost over liquidity in the in the NC so
that's super interesting and that's actually my next question to the LS team is
are you guys already looking to partnering also with project within the NC for liquidity especially
because I mean we have been looking for a DEX in the NC for a long time and panelists coming so
are you guys looking those who do this kind of collaboration
yes so absolutely we are very much of the mindset that we want to partner and collaborate with
as many chains or projects within the Cosmos ecosystem as possible especially those that
have that same mindset of you know providing value to the atom economic zone we've actually
inked several partnerships over the past few weeks recently just announced a partnership with
kudos yesterday we have a partnership with stride that you know that I think we kind of discussed
over the past couple weeks but you'll probably hear more about soon and if you're a stride
st atom holder you might hear some very exciting news about that this week
regarding an air dump that's all I'll say about that but yeah as far as liquidity partnerships
and things like that we're always looking for those discussions so if you are a team member
or you are with with those projects we're always happy to engage and talk we've reached out to
several different chains especially you know even for the other decentralized exchanges or
perpetual platforms we love engaging with them and interacting with them we've reached out to
several the reason being is we view the most partners as Mitchell alluded to our our target
demographic is not the user who's necessarily already in the Cosmos ecosystem right we are not
trying to take users away from people who love osmosis right that's not that's not in our ethos
we want them to continue to use those products because it's helpful to the atom economic zone
what we are trying to do is expand the DeFi involvement in the entire ecosystem you know we
only have six six or seven million DeFi users total in all of web3 but when you look at for example
the centralized exchange space you have over 200 million users so we have our site set on those
users right we want those centralized exchange users to come over and we want the first place
that they come when they set up a web3 wallet the first place they should come is Cosmos and
that's what we're here to do to provide value for the atom economic zone is we want to make
sure that onboarding process is super super easy for them it's why we allow you know you know enable
the function of having social logins for the ls web app so they can get started right away
without having to go through the big learning curve of safeguarding their own wallet and you
know storing and remembering keys etc we wanted it to be super easy and we wanted to be a way for
them to jump from one device to the next if they were logged in via desktop and they switched
to their mobile etc so this is how we think this is how we think this partnership and
collaborative mindset is going to look like going forward we think that as we grow we'll
have the atom economic zone grow we'll help our partners on the other DeFi platforms grow
and that's exactly how we all win together
yeah that's that's super exciting especially because i think it's nice to have this kind of
deep dive on how you guys are looking to elaborate within the ecosystem it's uh
i think it's very positive i i just want to jump quickly maybe on jian because i know there are a
couple of very close event that were just been announced by informal system one is the
actually the signaling proposal for partial set security that is actually on the forum so
maybe not sure if you can share already an update on when it is going on chain and also if you
want to share an update on the adr on atomworks because there are also many projects within the
ad that are looking forward for this one yeah um the uh signaling proposal should go up to tomorrow
on chain um and uh that's uh it's been two weeks on the forum so that's the usual timeline um
that's uh that's just sort of to get approval for for uh you know this update to energy and
security um on partial security and uh it's uh it's it's it will it will be an it will be
an upcoming upgrade probably v17 um so v16 is going out soon then v17 we're going to do an
incentivized test on stuff before then so uh the signaling proposal is just to kind of get the uh
you have to get the approval for it um then um and i'll address i'm gonna go back to the
forum address any any any other comments and questions i haven't addressed yet um but it
seems you know obviously people are pretty in favor of it uh and then atomworks um we've been
working on that too uh i uh you know last last couple months um i've been working on a prototype
contract cosmozak contract for atomworks uh and we are during you know during q2 going to kind
of finish it up and finalize it um and there's uh you know still some things that need to be
done but a lot of the the basic mechanism how the voting works is is there so we're moving
ahead on that too cool thanks for the update and actually there there was like this big alpha of
the signaling proposal coming super soon because tomorrow it's quite soon of course it could be
also delay of a couple of days that's uh that could be normal so i don't want to make people
too much excited for tomorrow well i mean it's been on the floor i mean that's just a two
weeks two weeks schedule so uh so yeah um but but oh one other thing i was going to say about
the uh there was been a question earlier about the permissionlessness and whatnot and um
basically the the way it works uh when when uh when partial security launches it will not
be permissionless it will still require a governance proposal to approve consumer
chains just during the kind of initial launch period um and uh we'll be we'll be working to
um to make it permissionless um later like fully permissionless where somebody can just
kind of come and without any government proposal start a chain and have it start running as soon as
validators opt-in but uh we kind of want to probably later you know during during this
year we're going to be working on sort of a front end for it too to make the deploy process
a lot easier um and we kind of wanted to be a complete package where um it really is pretty
streamlined to to start a chain before it goes fully permissionless yeah i think it makes sense
also because uh it's a new technology so i think it's better to start with permission than later
moving to permissionless uh type or do you have any one other thing i'll say about the permission so
basically just i mean just in case anyone missed it i mean we've been obviously talking about a
lot but the partial set security is is opt-in so basically um validators don't have to validate
a consumer chain if they don't want to and like like uh like dibor is talking about um
um you know it's going to be up to delegators to choose validators who are validating on consumer
chains that they that they want to support and they want to earn earn revenue from um but uh
yeah so so this this this uh proposal to launch a partial set security consumer chain is not like
a replicated security proposal where it makes all the validators have to run it it's just
basically i would say more like clears them for launch because validators are going to have to
opt-in to run that chain too um so yeah just just making sure that's clear
yeah thanks for clarifying uh type or do you have a last question otherwise we can also open the
floor to community questions so if anyone in the community has a question for this network feel
free to start to eat requests uh i was curious about the tokenomics uh i got for a second so
i don't know if that was explained there but uh how are um at least economics special let's say
how are they different from dy dx who is deleting a perfect section cosmos and actually that is where
as well that that's a great question so we were very very thoughtful with our tokenomics as
mitchell alluded to earlier um in terms of one keeping our supply uh very very disciplined
uh so we will launch with um 50 million tokens we'll inflate to 200 million max so that'll
be the last uh you know uh bit there as uh the maximum 200 million we do have a burn mechanism
we also have the ability to turn off inflation early so we don't have to get to 200 million
that's just our our our initial max but if we are achieving so much revenue that we don't even
need to get to that 200 million we can always turn off the inflation early so that's kind of
the first step there uh we do um we studied very very deeply the generation one DEXs that launched
that had to pair uh their assets under liquidity pools with their own token obviously back then
it was a lot more difficult we didn't have axelr we didn't have native usdc so they you know that
was just a creative way for them to do it so to no fault of their own that's how they had to
build pools back then today we're able to launch with the luxury of having a noble usdc and when
we designed the DEX from the very beginning we knew that was coming so we're all usdc paired DEXs
so that's super important for our tokenomics because anybody providing liquidity on our pool
never has to use the LS token to to jump into a liquidity pool so for example if you wanted to
create an atom liquidity pool you would pair it with usdc so atom usdc or if you want to do a
multi-token pool you could do like atom ethereum bitcoin uh and usdc in that pool so just a very
very disciplined in terms of how we view the utility of our token uh with partial set security of course
with atom um with cosmos hub doing the validation and network security uh the LS token is not
providing network security as we get that from atom of course uh so the the LS token becomes
critically important as a governance token so it's really really important that we rally a very
strong community and we you know we're very active and involved and very communicative with
our community in terms of how that LS token is held so the idea of being an LS token holder
is that you have a very very long-term mindset because you are involved in shaping the future of
LS network purely because you're you're you're focused on not just the governance side but the
the revenue generation side so as a LS token holder when you stake your LS
you are sharing in um in the uh revenue share of the platform along with poolers
and along with cosmos hub so that's a really great way to express your view on LS and then knowing
that there's not going to be this huge inflation that's gonna that's going to dilute or create
a lot of self-pressure on the token and rather that almost every function on our platform
occurs with usdc or other tokens that there's not this competing pressure to try to always
find utility for the token we already have our utility it's governance and revenue share
and gas fees but we do also enable gas fees to be paid in atom and usdc and we'll probably
unlock some other options as well for based on user demand so from that perspective i think
we really really have a sound foundation and basis for why somebody would ever want to get
involved with the LS token the other thing i'll add is when you stake the LS token
we have a multi-token system so when you stake LS you actually receive our vesting token called
eden and that is a vesting token that vests over a 90 day period so if you wanted to
claim your eden one for one for ellis it would be a 90 day vesting schedule but what we do and
encourage for people who want to be long-term holders of ellis is that you can take your eden
turn around and stake it and then earn more and then you can also apply a multiplier called eden
boost so the uh just as a clarification the eden and eden boost tokens are not minted tokens
so actually when you un-stake you actually burn your eden boost it just goes away
so it's just a multiplying factor and then the eden and eden boost because they're not minted
they don't put any pressure on the actual tokenomics of our platform and you can like i said when you
vest your eden you can exchange it one to one for ellis keep in mind that's just a secondary way
of being paid when you're a staker right the primary way of being paid when you stake the
ellis token is usdc revenue sharing you will be paid out in usdc super super important at the
tokenomics level super super important in terms of sustainability in terms of how people view kind of
the next frontier of how d5 works right so uh you know mitchell has said this many times but
you know if you have 500 usdc of revenue share when you wake up the next morning you're still
going to have 500 usdc of revenue share right or whatever you accrue to overnight so that's super
important for us that that that user to kind of have a clean awareness of what they're actually
getting in terms of you know value add for holding the token so i hope that's kind of described it
kind of i tried to kind of cover all the basis there with with the the why our tokenomics are
different but we did put a lot of thought into making sure that there wasn't this competing force
that like if the market was to have a really big downturn that our tvl on our decks wouldn't
be further exacerbated by having the ellis token paired in the pools with with the other tokens as
well to bring it down in the meantime nice in the meantime community member john so mr rox if you
have any question feel free to share it also can i hear me yeah i can hear you okay so my question is
uh what did you roadmap plan 2024 can you share with us
uh yes so we'll be releasing a roadmap as we get a little closer to mainnet launch um you know
initially our mainnet launch is planned for uh i would say eight to ten weeks i don't know if that's
still kind of the target cyborg is is that when we're looking at having uh partial security completed
in the testnet that's a question for jam oh yeah oh sorry jam yeah it's going into a devnet right
now actually uh people don't know about this but uh we're doing some private private testnet seat
but we're all seem to uh incentivize testing before then but uh but yeah we're hoping to
get it fully launched but during q2 okay great so so yeah on our roadmap that will be um you know
kind of like a big milestone for us of course is mainnet launch in conjunction with that mainnet
launch you'll see uh either like some sort of launch pad or centralized exchange listing we're
going to be looking at multiple centralized exchanges uh so we have a lot of strategic
partners that are kind of enabling that for us which is really fantastic plus the support we're
getting from uh informal systems is absolutely fantastic atom accelerator dal everybody's been
really fantastic to work with along the way to get us to the stage and we're incredibly
thankful for that as well as just individual community members within uh cosmos and uh and
even partner layer ones like the layer ones who've come in support us have been fantastic i mean
this is this is exactly why i'm super excited with all the hard work that you guys have put
in at informal uh in aa dal because this mindset you know of of coming together to
to kind of see our synergies and build up the entire community and raise it together
it really is a rising tide lifts all boats right and i i genuinely believe that from the bottom of
my heart i'm not here to compete with anybody i know that the founders of ellis network are super
super uh bullish on the entire space right we're we're investors in other um chains within the
cosmos right so we definitely don't want to um you know want to create like opposing forces
and we're seeing this mindset really turn into something special because of how
a creative it's already been over the past few months as these chains have come together
and decided that you know it makes a lot of sense for us to to find where we have a lot of
overlap or mutual functions that we can kind of push together and and really grow our community
so i'm thankful for that um you know uh like i said stay tuned for more roadmap items we're
going to add some more uh we'll have those ai tools i know our our community's been asking
for ai i know that's a big buzzword right now so we're gonna get it we're gonna get it for you
it is further down the road map i would say later later on in 2024
okay can i have another question absolutely okay uh ambassador play very
importantly in every project do you have an ambassador program
yes we do have an ambassador program uh if you follow us on uh twitter you can see we actually
launched a cadet program uh over the past several weeks we filled it with over 3 000 cadets still
hold me that i'm sorry if i don't have the the number exactly correct uh very very excited about
the the level of participation we got about that because to become a cadet with ellis network we
actually put you through a uh a fairly rigorous uh cosmos uh education program so um we don't
just want you to know about ellis network we want you to know about the cosmos hub and especially
the atom economic zone since that's a that's a key uh tenet of of what of what we stand for
so uh believe it or not so many people who applied to become cadets couldn't pass the test which
uh is no big deal right there's a little cooling off period we help you with study materials and
you come back in and uh and you can retake the test so i believe that program filled we still have
additional ambassador programs that are that are coming up and then we'll be announcing
uh what we call our first uh brigadeers will be announced this week i think our twitter announced
that a couple days ago so um please stay tuned join our discord we have a lot of different roles
for people that they can get involved with uh we're very much of community mindset we want
people to contribute where their talents are best suited and obviously you know we we grow
stronger based on those contributions that we get from uh people who bring um whether it be
you know communication skills marketing graphics audio anything that you can bring you know
um ideas behind trading strategies that we'll use for our ai bots etc like we'll have a lot of
different um places where we'll be seeking community involvement so please do join our discord
follow us on twitter and um and stay tuned for more announcements as well on that
thank you mr rox for your question also welcome to kudos jay from et al do you have any
question to share as well uh no not not really questions um but i just want to say i'm i'm
thoroughly impressed with the ellis team they've been very professional um i really like their ux
i'm testing out the testnet right now um so it sounds like like they've carefully planned
things out and one thing that makes me bullish about aez is that uh recruiting you know very
competent teams to deliver on on good protocols like i i see aez as being more of a
quality item economic zone versus the you know a typical restaking um rather than quantity um so
yeah i'm happy to you know be working with the team i haven't uh personally had any
calls with them as other members like you said aren't here but yeah i just want to say i'm
very excited for what they're building
thank you for the kind words and thank you for the support that we're getting from
atom accelerator dal it's really not just like i mentioned earlier opened up a lot of opportunities
for us but also really allows us to more closely align our like our our strategy of
benefiting the atom economic zone it helps to have you guys involved with us in the beginning
so that you know it's built into our initial plan and we absolutely love that i think we're
finding a lot of synergies already and we're always open to uh you know that feedback and
that communication uh you know same thing with informal just absolutely a pleasure to work with
how lucky are we in the cosmos ecosystem to have you know these two as kind of like a beacon
you know that are that are really just representing all of the very best things
of the cosmos and i'm honored and thankful to work with you
yeah absolutely i i also just want to show you know say my appreciation
on behalf of our whole team and our community we are absolutely honored to enter the aez um we're
absolutely going to try our best every single day we're very excited about it and i also want to
say we've we've met with several cosmos chains and projects over the last several months and
everybody's been so welcoming and it's just it's just great right it's welcome in what are you
doing you know and they'll give us advice stay objective and and so to go into the aez and you
know interact with you know the original um where it all started right and you know and for adam it's uh
you know it said oftentimes that adam it doesn't hasn't really gotten traction and but it's been
like the impetus for so much that's began in the cosmos and so many other projects have
started here and it's all it's all because of adam and um we just want to show that appreciation
and bring value uh back to it you know there's absolute utility and i think you know adam is one
of those things and the team's one of those things where they've done so much for everybody else
where you know they haven't really seen the benefits for themselves and i think this is the
time you know to make that happen and to show love back and bring what we've what they've
made it possible to do for the founders and for the projects you know show the love and bring
the love back and so we're absolutely happy to do that we're very very happy we're very honored thank
you i think that's a wrap and uh thank you everyone for sharing their talk uh if anyone
doesn't have a final talk i think we can uh wrap it up and uh i want to thank also tieboard
for being uh caused today for the first time and i think you have been a great cause so thank
you for coming do you have uh any last thoughts yeah yeah uh thanks rob and uh sign me up for the
next one uh for the forecasting i thought that was great i learned also about ellis i thought
asham and michelle did a really good job explaining what it was all about i want to also invite
everyone to come next week uh to the twitter space with loronzo uh loronzo is a is a bitcoin
l2 that has been announced as also uh basically the newest member of the of the aaz and new pss
chain and they will also be talking to us about what they intend to do so thursday uh i think
that's going to be on the informal spaces um managed by isabel uh who's probably here
from the informal account uh well yeah everyone welcome to join for these uh for these guys as well
absolutely be sure to join tour the space on the informal system for uh knowing better loronzo which
was just announced that i think was yesterday i don't know because sometimes i lose the perception
of time in this space but yeah it was super super recent so if you want to know more about
loronzo be sure to tune in to the space once again thank you everyone for coming and for sharing
your perspective on ellis network and we are looking forward for the launch
thank you for having us cheers everyone