hello mic test one two three if you guys can hear me well please do react you
also have you know you know do you want to go ahead with the mic test hi there
testing sure sounds very good you'll just wait for a few minutes and let people
join in and then you'll get started yeah
all right for those of you that are here for the first time this is flick stock
103 this is episode 103 where we have the omniflex community coming together
every Wednesday at 2 p.m. UTC to discuss all that's happening within the flick
source as well as in the wider cosmic ecosystem firstly a special shout out and
thanks to Terra spaces for archiving all of this content and distributing them
across multiple publishing platforms like Google Podcasts Apple music and Apple
podcast and Spotify they also have their website Terra spaces and flick spaces
comp you should be able to check out all of the content archived up until now
right there including a lot more from within the cosmic ecosystem if this is a
quick brief intro about the flick stock we just celebrated our 100th episode
the start of the year and since then we've been featuring co-system partners
people that we work work with and I will continue to work with all throughout
this week we have Elena from noble noble is an asset issuance chain and I'll let
Elena take over from here Elena can you give us a quick overview about yourself
before we get into mobile about yourself have you got into web 3 and how
you got into cosmos awesome thank you so much for the introduction and super
cool that these episodes are being archived and then distributed across
sort of main podcast hosting platforms so I'm Elena I'm the co-founder of noble
so noble is a cosmos chain we are very purpose-built for one very specific
application which is asset issuance so you know we don't do sort of defy or you
know trading or you know NFTs or anything like this in terms of kind of
application and use cases we very much focus on one use case and that's
working with asset issuers to help them onboard into the cosmos ecosystem and
so we've worked with circle to help bring native USCC to cosmos and we
actually announced today it's very happy to chatting about this but we
announced today that we're actually bringing in a real-world asset to the
cosmos ecosystem which is a asset called USYC it's issued by hash note and it
gives the tokens crypto asset gives exposure to short-term government bonds US
government bonds so we talked a little bit about that but yeah I guess a little
bit about me I've been a cosmos core contributor for the past number of years
before that I worked with other protocols including infinity and cello
depth just been like a enthusiast in space for a while mostly focused on
things like product development go to market marketing you know BD things
like this and yeah came up with the idea for noble actually after USD
pegged and that caused a lot of challenges for projects in space and
I'm also the co-founder of a advocacy organization here in Canada called the
Canadian Web Three Council so really passionate about policy and
regulations and things like this so thanks for having me that is very nice
we also have Liam in the house Liam how are we doing today hey good to have you
here hosting tasting the space with me I feel like it's been a while we haven't
had you on here as much as you know you have been in the past it's been so
busy yeah good to have you here and obviously hey yelena how you doing have
you been since the London meetup yeah that was that was really good
it was great to meet you in person yeah pretty good pretty busy but pretty good
and the London meetup was actually very impressive I didn't know there was such a
large like crypto cosmos community out there so what did you think of the
meetup yeah I thought it went quite well obviously we needed like a cosmos
crypto meetup in in the UK for a long time like me and Danny and a few other
people even like lip it from notional said like this there's definitely like a
cosmos community in the UK it's just we don't have anyone who could organize
them or anyone who's willing to organize them so yeah really grateful for you
doing that it was nice obviously if we could have done three days it would have
been amazing but we've got to start start with a small one first right and
then expand that is very name night that is already right and as with most
ecosystems unless we host an event we do not actually know how many people are
involved you know we do experience that in Asia and you know definitely great
going and Elena like I I really am interested in the USYC part I did read
about that the RWA and you know how the yield from can shift from the touch
bonds not you know the asset itself to other assets issued on the noble chain
like we'll discuss that but I have one quick question like I've heard that I've
known that you worked in other ecosystems in the past and then moved to cosmos
like what triggered that move and what be dear interest the necklace yeah it's
a great question so I mean I guess we'll kind of go back in history a little bit
so I grew up in Canada in Toronto well born in Toronto grew up nearby and so I
was really fortunate to actually be exposed to the early Ethereum community
here in Toronto so I'm sure many people know Vitalik you know it's from
Toronto many of the other Ethereum co-founders are from from here or at
least from the area if not the city itself and so I was very fortunate to be
able to attend early meetups at the University of Toronto where I studied
my university studies and you know it was always very kind of fascinated with
this idea of a global compute platform where you can you know quite
promotionlessly spin up these kind of applications that can you know run in a
sort of decentralized manner and you know you can you know do things like
tokenization and and you know start contracts and all of these things and so
you know I got really kind of hooked on this idea but it was so early days so
yeah this was like 2015 before the ICO boom and kind of before that idea
spread to other protocols and so sort of waited and kind of patiently to see
what things would come out of you know these ideas and then eventually I was
fortunate to be offered a role very early on with DFINITY and it was also an
opportunity to move to San Francisco and live in the Bay Area and work in the
Bay Area and something I always wanted to do so you know really just took that
opportunity again very like early in the kind of boom of you know all these
other kind of blockchain kind of compute platforms that you know were called like
Ethereum killers and things like this I don't know who remembers this anyways
just honestly an opportunity to learn that's always kind of been my like MO
I'm just a highly open-minded curious person and so yeah that I just it was
really honestly just happenstance and and kind of luck that I got to join a
project as sort of a significant and you know as meaningful as DFINITY in the
early days I remember Dominic even actually you know did you know like
meetups that Dominic's the founder of DFINITY that you know with Jquan and
Talik and others so you know in the early days no one really knew exactly how
things would evolve from kind of you know architecture network kind of
perspective I guess and so you know it was just a great like time to learn and
eventually decided to leave the project for a variety of reasons but kind of
always stay close to folks there and so yeah I while I was at DFINITY obviously
I was kind of introduced to other other protocols other other ecosystems and one
of those was Cosmos and I've always highly admired kind of you know what
Cosmos is able to achieve you know obviously the launch of the Cosmos Hub
I actually watched that live from the Palo Alto office at DFINITY when that
happened which was I guess January of 2019 or something like this and was just
you know kind of fascinated with how you know kind of on top of everything
you know the team like the founders were and kind of the surrounding team
around proof of stake and things like this and the early validator community
and so yeah I was always sort of like in the background watching and then
eventually there was an opportunity to join kind of them one of the core teams
full-time and then I took that in early 2020 so honestly just kind of yeah
patiently kind of waited stuck around observed and then you know I kind of
naturally found myself working in the space that is very nice I mean you
explored the ecosystem at large you know been following the path on the
journey of DFINITY I remember the Ethereum killers that time I was also
there watching the launch of the Cosmos Hub and ABC and it is very interesting
that you watch the launch of the hub from the DFINITY office that you know that
says a lot about the kind of people involved in the kind of people that are
collaborating together and yeah that is very nice and you know wanted to ask a
few more questions as a builder but I'll let Liam take over Liam do you have any
specific questions in the segment before you know yeah I mean actually I don't know
how much time we have with with you Yelena I have a ton of questions that I
think could be really interesting but just following on from what this was
said it seems like you know you've had quite a journey because obviously you know
you're now co-founder of Noble I'm not even to hear you unfortunately yeah let me
check can anyone hear me Yelena can you hear me yeah I can hear you yeah yeah
okay I'll message this list so he knows it might just be a problem his end my
question Yelena was like where you've been involved like quite a lot in
different projects like how's the journey been for you like how's it been
to go from like DFINITY seeing the Cosmos Hub launch to now kind of like
being a co-founder of Noble like how the responsibilities changed what's it
like at Noble has it been difficult have you like found it really easy or is it
no be interested to hear your journey I think it's quite a unique one yeah I mean
it's interesting you know a lot of people that I think stick around kind of
through all the cycles and all the you know stress and trauma sometimes you
know I think they see a lot and I think it kind of keeps you kind of humble
because like it is still very early days in terms of how you know these
appliquity you know these things will develop whether it's you know use cases
or whether it's like more kind of like on the protocol like kind of side in
terms of like you know fundamental kind of research and development that kind of
takes place you know there's so much like vocabulary and kind of new designs
and you can use system thinking that kind of arises all constantly and I
think it just kind of keeps you on your toes and kind of like forces you to kind
of like be a little bit humble because these you know these projects and kind
of these communities like you know rapidly kind of evolved so I remember you
know like when I was at Definity again in the early days you know with that
kind of meme of like aetherium killers you know you had so many of them
including you know Definity was definitely under that category and you
know eventually you know I got to see from the inside like what what it looks
like to kind of take this like like position and to also you know hire the
best talent like it was really amazing actually to be at Definity like in the
early days like on the inside I think a lot of people sort of you know
unfortunately don't have that perspective but you know hired truly
like incredible talent like the most like nicest like smartest people have
ever met you know one of the founders of WebAssembly and like you know like
world-renowned cryptographers and things like this and so you know kind of being
on the inside and seeing how like the the sausages made so to speak it kind
of gave me like some perspective like whoa like first of all you know it's
it's humbling like I guess this is like the best way to put it and so and so I
guess like kind of taking that perspective and then like fast forward a
few years it's definitely I don't know kind of like values or approaches I try
to maintain like to be open-minded and humble and curious and like not too like
not too like extreme like hard-lined or like definitely not extremist in my
thinking or anything like this and so yeah I guess like again being on the
inside with all these like with various projects like in the early days gives
you that privilege I think because you know you're kind of like more
of an active participant in the story if that makes sense yeah I think it does
and I was wondering like what it's like to kind of work with organizations as well
like you know like circle or maybe you didn't have some talk should point base
perhaps because it's quite unique with noble to be able to work with these
kind of organizations so yes that's in different people you've worked with in
yeah I guess like the tooth to lessons I've had drawn from those experiences one
it's really important to have like a very like strong understanding of like how
very stakeholders like relate to one another right when you're working with
such a large organization you know I think circle has like a thousand
employees coinbase has you know even more than like many thousands of
employees it's really important to understand like how like stakeholders
kind of interact you know not even from like a decision-making perspective
necessarily but more from like from like a influence making perspective so you
know how do how do you sort of kind of you know get you know folks kind of
comfortable with certain ideas so in the early days when we were kind of
pitching the idea for noble to kind of various stakeholders including circle it
was really important to be highly highly kind of specific and concrete and
and kind of comprehensive and you know what we were trying to achieve and even
though it was very early days and things would evolve it was important to kind
of do that to have that process of constant kind of you know feedback and
honestly this is something like politicians do if like they're good but
like they're really good at stakeholder management and honestly that's what it
is like how do you make sure that like the kind of decision makers and kind of
those that have like a stake in your you know in your idea are again comfortable
and and kind of brought in in a meaningful way and in a legitimate like
valuable way not just like kind of in a superficial way and so that's what you
know we tried to do with the circle and it took it took months you know I know
that for example like the lodge itself of USCC was a bit delayed on noble not
not a bit maybe more than a bit but you know there were actually reasons for
that like kind of on the back and that people weren't like privy to and so you
know just again like sitting on top of these things even when things are kind
of challenging and there's delays and maybe thud and things like this is just
you know really important and yeah I mean Coinbase is a great company
obviously very kind of excited and proud that we were able to that that
they're actually the first centralized exchange to support noble and a lot of
that actually is a kind of legacy of the fact that Coinbase and circle have a
great relationship so you know we were kind of brought into that fold but yeah
I mean at the end of the day it's it's it's a lot about understanding you know
how again stakeholders interact with each other also in a very decentralized way
like you know circles really interesting like the teams themselves are
like very autonomous I would say like the product team versus the engineers team
security team I mean they definitely work together but you know if you have
let's say someone on the product team sort of bought it that doesn't
necessarily mean that translates to like every other kind of team you know
within the org so kind of being very thoughtful about how information is
shared like how feedback it takes place I mean these things sound kind of
simple but they they it takes some work for sure oh yeah totally when you said
stakeholder management like this really really like stood out to me because I
feel like this is something that requires a lot of emotional like EQ
emotional like quality and it's the same even for projects and even like people
like myself and Danny in the space for example people like scene like we don't
really look at people as stakeholders per se we just look at them as like
community members right and you you kind of have to do a lot of work I
wouldn't use the word management either I'd use kind of like you just kind of
have to engage with these people and if you don't there's a massive void these
filling right people don't understand like you're saying with with like kind
of managing the stakeholders of noble and circle and their employees and all
this stuff so yeah I really relate to that and I just had a thought that
basically it I must get extremely extremely complicated when you start
thinking of stakeholders of noble on an interchange level right so not the direct
stakeholders like noble or coinbase but the slightly less direct stakeholders like
only flicks and you know other chains and cosmos the cosmos hub you know all
of these different communities basically so yeah I mean what are your thoughts
kind of towards those types of stakeholders how does noble plan to say
work with only flex or with creators and only flex or maybe you can explain that
for other chains as well be really interesting is that must be difficult
there's a lot of people to account for yeah maybe I can actually take even a
step back for a moment and maybe like be a little bit more esoteric so
obviously a lot of kind of thinking around kind of like blockchain design
and systems design and you know things like how do we prevent collusion and how
do we kind of have these like trustless systems where you know X portion of the
network doesn't take the other you know overtake the other portion of the
network how do we have sufficient decentralization things like you know then
the neck of modal coefficient you know these are all very obviously like kind of
designs and principles rooted in computer science and in math and and
so forth and so like actually my passion has always been like more on the
human side of things so yes like absolutely you know things like BFT and
Tenderman you know need to be robustly you know engineered and specified and
audited and all of these things and kind of maintained to you know make
sure that people don't like lose their money and like hacks don't happen and
things like this but you know for me I've kind of taken like let's say like
the kind of human analog approach to this which is okay well now we have like
actual humans involved and these you know networks right it's not just like you
know like nodes and you know bunch of validators just passively you know
spinning up like hardware nodes so how do we actually and kind of ensure that
from like more of like a human kind of organizational kind of systems
perspective there's like yeah like there's like some robustness and some
cohesion and actually that's like kind of how noble started out right like if you
think about like our entire mission our entire mission is to serve the ecosystem
in a meaningful way so whether that's creators on OmniFlix or you know
traders on DYDX or or you know what have like what would have you like
whatever that user is we want to like kind of be there for them you know
that doesn't mean we're necessarily gonna like spread ourselves like super thin or
do more than we can handle but actually have like a very specific thing that we
do that can actually all serve all of those people at once and honestly like
like something like bringing a VSTC to Cosmos was just like a perfect first
step in that direction right for many reasons and again I've talked about
this in the past but was honestly quite motivated after what happened with
Terra like and it's horrible as an event that was in fact I was actually
like paying my rent when I was living in LA in UST like when the Deepak happened
which was kind of interesting and that was horrible for myself and many other
people but after like the kind of like the things died down you know it was
like okay well how do we actually like fix things and yeah I you know again
like having fun with a neutral trusted reliable partner in the ecosystem to
you know again do something like very specific very but also very useful was
kind of a no-brainer and I guess you know that was kind of the thought
process and eventually like the events like you know kind of subsequent to that
thought process that kind of you know materialized and and you know eventually
resulted in noble yeah I think the people part so important so I super
super relate to that I think that's what is important to me as well it's
always I've always like struggled with say like the what's like the business
development side of crypto right because I feel like it what are you
speaking with people it's a lot of needs for businesses and like machines and
organization but like the community side I really love because you get to work
with these people and so on so yeah that's like all super interesting so
thanks for sharing all of that there to talk a little bit more maybe about kind
of like noble and you know USDC is the main asset that you've been issuing so
far I believe you're just short of a hundred million issued at the moment is
that right yeah about a hundred million or almost a hundred million and we went
live in late September 2013 so yeah I guess it's pretty pretty decent isn't
it's pretty good and I mean that cosmos is needed native stable coins for a long
time it was always kind of kind of considered a bit of especially after USP
I guess you know when USP collapsed it was like oh you know hang on a second we
kind of need we need USDC or USDC liquidity so yeah that's been a big help
I guess it's been a bit of a like a point that's kind of restricting the flow of
money into into cosmos for a lot of people so I think that's been super
super useful what have you seen like with the usage of like USDC and the
ecosystem I don't know if you get to track that at noble but what what kind
of people have you seen coming in where have you seen USDC kind of going be good
to hear your insights from that yeah I mean we definitely track kind of adoption
and it does some oscillate like you know one day we'll see a lot of kind of
inflows to you know something like Kajira another day you know more to
towards do IDX osmosis still kind of which is a lot of that activity in terms
of kind of overall transaction volume but the cool thing actually for me has
been using noble as a way to get people kind of interested in cosmos and kind of
excited about cosmos so I've had people like directly reach out and be like hey
like you know I heard noble was doing this thing with stable coins well I have
this like airdrop that I want to like you know convert to USDC okay how do I
do that and now all of a sudden you get into a conversation around you know IBC
and you know Kepler and you know a variety of kind of facets you know
different wallets you know with like in our ecosystem so it's almost like a
conversation starter I actually think Adam was supposed to originally sort of be
this kind of like like hub right if you think about it like as the first kind
of token to come launch and like the first chain to launch in the space you
know I obviously had a lot of integration points still does with many
exchanges and things like this and you know obviously you know validators you
know there's a very professional validators set around the Adam token and
I think Adam was actually yes was supposed to fulfill this role of kind
of being the entryway to the ecosystem and kind of getting people on board it
and it's like coordination mechanism like coordination hubs with larger cosmos
and you know I think that they still definitely has like a kind of role to
play in all those facets but I would say Nobles also like doing that on some
level right we have you know obviously it's you know been four months so we're
not like like I would say probably don't definitely don't have as many IBC
connections as the hub does but we're getting there and you know kind of
being this like coordination mechanism so you know still kind of you know have
a lot to we still have a lot to see in terms of like where kind of like how
people will be using you to see actually one one thing I'm super proud of and
excited for is payments and so we have a partnership with cypher wallet cypher
wallet is a self custodian wallet in the space and they actually have a debit
card associated with their wallet so you could load up your wallet with actually
any IBC token and you can convert that to USCC within the app and then actually
use USCC in stores for payments so it's actually a really nice flow I've used it
multiple times now and we've done about two hundred and fifty thousand dollars
of in-store transactions with USCC issued from Noble with this debit card so
that's something I'm really excited about because you can have Adam we have
Osmo you know simply swap that for USCC within the app load up your you know
debit card with with the USCC and then literally just like tap it as you would
use your normal kind of bank card in any store and we've actually seen this
card be or this get this debit card and Noble USCC be used all around the
world including yeah like Slovenia and Japan and I mean obviously Canada cuz I
used it here but yeah so anyways there's gonna be a lot more kind of
examples I think of people kind of just building like great products and
applications that like uses USCC and cosmos I think that's the killer use
isn't it of stable coins it's it's payments digitally and I guess in the
real world as well right and being able to even purchase cryptocurrency and it
means you know like buy coffee it's it's basically the unit of account
especially the US dollar globally so yeah I'm thinking about this like okay
like let me put myself in the shoes of someone in like a high inflation country
whether that's you know Turkey or Argentina or somewhere else and I
obviously want to hold USD but what better way than to just kind of sit on
it kind of in this like in this in this format in this like stablecoin format and
I only have to kind of spend it like when when I need to pay for stuff so I
mean you know obviously it's like cash under your mattress but it's a lot more
easily managed right in in a crypto form and in like in an app I don't have
to like think about security in the same way like if you held a bunch of
cash like under your mattress if you were in one of these inflation
inflation countries first of all like if that cash was USD and second of all so
from a security perspective I'm a lot more comfortable but from like a kind of
personal you know financial management perspective I'm also a lot more
comfortable because you know you can really easily track sort of when and how
you spend that you know USDC kind of in stores for you know basic necessities
so I mean we all know this like we all know that like a killer use case for
like crypto is like you know to kind of hedge yourself against inflation but
honestly just like the ease of use in the US and like the kind of delightful
experience you know I think puts it on another level for me at least and I
think for average kind of float like people that don't really care about you
know kind of Bitcoin ideology so it's it's something nice to experience I think
this is quite relatable for a lot of people who might be interested in sort
of like digital art and NFTs one day like people who are even in gaming rights
I I do a lot of gaming too and I think it's all the same thing it's like you
know people people looking at sometimes at NFTs and go well you know maybe I'm
interested some people just start but like some people looking maybe I'm
interested but what's this like flex token or what's this stars token that
I have to buy first what's the value of that fluctuates what am I paying for
this like in-game item or the center fee so yeah I mean it's just it's just easier
for people if that's the unit of account they use so I was wondering because we
spoken a lot about USDC and its usage in the real world and you know how it's
kind of like getting lots of people building apps and stuff that can
leverage it what role do you see USDC playing in let's use OmniFlip
specifically in like a NFT economy do you think it makes sense to have like USDC
purchases maybe there's a different role it can play for like NFT treasuries how
do you imagine it being utilized Nobel USDC on something like OmniFlip? Yeah
for sure I mean creator payouts are like the obvious example that comes to my
mind so you know even things like kind of micro payments so I don't know maybe
someone really likes this like podcast episode and they want to kind of tip the
the host so to speak you could do that in USDC and in a kind of an
efficient way obviously if you have something like NFT creators you know they
obviously you know our confidence should be compensated as artists as
creators and so I'm doing those payouts in USDC makes a lot of sense we're
actually working on that note with a company that's coming to Cosmos a project
that's coming to Cosmos called Settlest and Settlest is a new chain that is being
built by the folks from Kraften and Kraften is a gaming company from Korea
they are the creators of PUBG and they are actually will be using this like
chain called Settlest to do creator payouts for their game they're kind of
in game designers for various like gaming assets and so you know we're
kind of working with them to kind of facilitate that and so you know these
like complicated workflows are definitely a lot more kind of feasible when you
have you know things like IBC on the back end and things like kind of Nobel
kind of being this neutral layer but anyways that's one example that would
definitely extend to OmniFlix right like for kind of your NFT kind of
creator community so so yeah that's one example I was gonna say as well like
when you said about pits and stuff I was thinking of OmniFlix TV right
because there's a lot of content that people are putting out on OmniFlix TV
different like Cosmos projects even maybe some of the creators here as well
in the space you know people may be like Chris or Tardigrade or Pega and you can
tip on OmniFlix TV so I guess you could be a good fit in that sense as well in
the same kind of way that you would set creations on the space or on say
set list for example as well so that makes a lot of sense yeah I forgot to
mention but my husband is a big fan of OmniFlix we have a bunch of Flix that
didn't even actually know about until a few months ago so I think what you guys
are doing is really cool and like very relatable and he's an artist so he yeah
I think it's I think it's really awesome so anyways awesome awesome thanks
yeah it's always like it's great you managed to get what your husband didn't
crypto already or did you kind of like crypto him oh no we grew up in the space
together like I definitely got prepped up before he did and then you know slowly
brought him in over the years and now you know he's highly knowledgeable I mean
he's like not like in a space full-time but definitely does a lot of like
airdrop claiming and staking and DeFi stuff so yeah he's very knowledgeable
yeah totally yeah I was gonna say I've not managed to get any of my non crypto
family into crypto yet but it sounds like obviously he was already kind of on
that journey which makes it a lot easier and I do think about this a lot there
it's like how can we make crypto like more accessible to everyday people I guess
maybe USDC and some of the like payment cards you're offering or you know can
be used to spend USDC could be a good way and I also think like NFPs are like
one of the more relatable aspects for like everyday people particularly just
kind of like the PFP collections are more like crypto native products I
would say they're very much for like crypto bros or crypto people but I think
a lot of the creators and omniflips they're focused on maybe like music
content or songs or playlists or they're focused on video or they're doing just
artwork right like real artwork from real people rather than like this kind of
PFP style and I think these two areas are kind of like really important for
getting everyday people into the space I think NFPs and gaming is one and
then the other one is kind of like making the unit of account something that
people are familiar with which is of course USDT so do you have any kind of
thoughts on that it's not really a question but if you have any thoughts
around it would be interested no I mean I think you I think you've got it I
mean one thing I'm excited for is actually like other fiat stablecoins I
know USD stablecoins are really valuable in DeFi and in trading and
just as they are in the regular traditional markets but I'm really
excited about other stablecoins because because yeah it unlocks those like more
real-world use cases like payments or remittances or what have you so we're
actually working with a team in Japan to do yen stablecoins and then I'm
looking forward to hopefully confirming and establishing a kind of a euro
stablecoin or multiple of those kind of partnership so you know that's that's
just a good I guess a side point but yeah very valuable stuff by the way I
do unfortunately have to hop in like a couple minutes but yeah just just just
FYI no there's no worries at all I don't know if this Lert is it's still
here on the space because he wasn't able to hear either of us so just a
heads up for everyone listening kind of why I've been taking the lead here but
since you haven't got too long Yelena I had tons of questions that I think maybe
it's just too much for today but I just guess before kind of leaving your final
thoughts I wondered if you had any thoughts you could quickly share on a
what assets noble plan to issue beyond just USDC obviously you have the real
world asset you mentioned US YC I think you said it's like a short-term US
government bond so like the first part of the question is like what assets do you
expect noble to kind of launch would you have it planned or what do you hope to
kind of launch because obviously obviously what definitely will materialize
and then the second part of that question is what role do you think real
world assets play in that issuance on noble and secondly like do you think real
world assets is a big component of the next bull run because I've kind of seen
it float it around a lot by a few different themes so this would be a
common trend to be interested if you could share those thoughts before you
head off yeah so in terms of other assets I kind of alluded to it already but
kind of other field stable coins are definitely part of our roadmap again I'm
very passionate about kind of the real world so other kind of getting other
communities kind of comfortable kind of with these like with these with these
cryptos systems and that part of that is actually introducing other field stable
coins and and the use cases that arise out of that I think another thing
actually of that work kind of focused on which is actually more of like a noble
owned kind of experience like to onboarding into the cosmic ecosystem so
kind of front-end and more like kind of building on that layer right now we
build very much on the infrastructure side of things but actually having kind
of more yeah more of like a noble kind of front-end experience so that's like
just it's not a new asset but it's something that's kind of part of our
part of our roadmap and then RWAs you know it's really early to tell to be
honest how big of a part of like the next kind of cycle RWAs will be right
now there's about 500 million outstanding of RWs issued in the
treasury space there there's a few players that like between five and ten
issuers and and they range somewhere between like 30 million of TVL to you
know 120 million so still relatively kind of a small like kind of difference
there like small small Delta like 30 to 120 if you think about it so they're all
kind of in that middle lane kind of like kind of area and it's kind of hard
to say exactly you know like how you know who will be the biggest or you know
which will be the biggest and also which will be the most useful and things
like this I mean Noble our MO really is to just damage like to kind of work with
these issuers to use it like in Cosmos infrastructure such as IVC to make
these assets like more useful and more available and you know UX is like
seamless and you don't have to think about things like wrapping and unwrapping
so yeah it's really hard to say I'm not really comfortable with giving a
prediction to be honest on the RWAs kind of side in terms of like totally
how big of a kind of part of the next cycle it'll be but I mean that that
number of like 500 million outstanding I mean will definitely grow right it'll
definitely grow another actually interesting statistic just speaking of
like adoption I read this a couple days ago in terms of stable coins themselves
they actually make up 10% of the overall market cap of crypto assets overall but
their account for something like 70% of transfer volume so as you can see there
is also could be a difference between the actual total market cap and the you
know and how like liquid and kind of transferable that asset is so you know
that's something to consider like sometimes we hear numbers and we think
oh wow like that's a big number but realistically you know how many users
are there like how often is it being used like what are the integration points
etc and so you know that's why I'm not super comfortable kind of giving a
prediction because there's different ways to kind of measure this and you know
we'll have to wait and see yeah it was a hard question as well so I
appreciate trying to answer that so well yeah thanks they're like coming in
and kind of sharing some insights into Noble and everything else so just to go
I know you haven't got long what would you like to see next for Noble and say
OmniFlix going forward is there any partnerships or integrations you think
would be really good to work on and then yeah that'll be everything so feel
free to leave closing thoughts after that yeah I know I love it I love being
put I love this question yeah I mean listen I would love to do some sort of
educational campaign or kind of like some sort of campaign just to kind of
demonstrate like how your kind of community of creators and even even
like listeners and things like this can kind of use USDC kind of on the
platform and you know I find that OmniFlix has done a great job at kind of being
an educator in the space and definitely facilitating these types of forums you
know whether it's the podcast or or kind of the kind of broadcast approach so yeah
I don't know it's like let's kind of do education and and kind of make sure
that folks are kind of brought in and that would be great 100% yeah that
sounds like a good idea obviously OmniFlixTV could even be leveraged for
that so yeah sounds really great yeah do you have any final thoughts just
before you go if not obviously thanks for coming on for the pleasure no I think I
think that's all thank you for like all the great questions and I really
appreciate you like having me on and and kind of the engagement being so
engaging and yeah looking forward to you know just a great year for the entire
ecosystem and including OmniFlix and and the broader kind of cosmic space so
thanks so much thanks very much and good luck with all of your work going
forward yeah all the best and definitely stay in touch all right super are you
there by the way I see you're up as a speaker how are you doing absolutely I'm
here I'm doing well and thank you welcome everyone to Flix talk 103 and
you know before I even start let me just share this that now if you have your
USDC noble USDC in your wallet you can even use those to get your favorite
creator or video on OmniFlixTV in case anyone was not aware of that so it's
already there but that is just a start so let's just proceed with what we have
enough to and this time I'm not just going to give you fanatics updates I
will also let you know about the new interactive videos and the collections
which has been going live in the last one week should we start all right let's
begin okay let's begin so the about first about the interactive videos we had
snails video by Jekyll protocol we had hack secret launch by secret network we
had how to invest in cosmos by the notional so you can see some very
interesting videos there we had new soundtrack video by framework fortune
who is our genesis creator we had a video on cosmos by the podcast need to try
once about no he really does very good podcast and shares on OmniFlixTV and
there is a new episode by games of notes these are some of the some of the
no trending videos on OmniFlixTV but even apart from this something what the
subdoubt did the past one week was there was a genesis meetup at Sri Lanka and
we are a campaign that if you are there lives you can know share the
experience there take a video use a mobile use a camera share the experience
there and five of those videos were rewarded with hundred flex tokens each
so this was a to encourage people to use OmniFlixTV and to show them how simple
it is to create a channel create a video and also for those who are not at Sri
Lanka couldn't be there to experience what it was from a cosmonauts eye to
be at the event this was just about the interactive videos and in case you
were part of our quiz last Saturday you would have realized that now even if you
don't have flex you have any token in cosmos ecosystem you would be able to
use IBC tip feature and tip your favorite creator or your favorite video with
with the token it will automatically swap that to flex token and tip the
creator in flex that's how now I even used one of the tokens which probably is
not even know it doesn't have a pool in osmosis so even I was even able to use
those so it probably includes now all the cosmos ecosystem tokens any token you
have in your wallet you will be able to swap those two flicks right from OmniFlix
TV and tip to your channel or your creator now about the collections so we
had three major collection launches which were curated the first was all the
flicks monsters NFTs by dawn not dawn kryptonium that spouse from dawn
neniston in who is our general probably one of the most active for NFT creators
he does so many campaigns giveaways and was even of a guest in the last phonetic
same a on this car and there are 200 NFTs listed for only 30 flex tokens each
the second collection is moonflower by salute arts and there are 70 NFTs for
only 30 flicks each the third is way out my stay by framework fortune again and
he has hundred NFTs listed for 40 flicks tokens each now these are some major
collection which got launched in the past one week but I will highly highly
recommend that all three creators are very active on the marketplace so when
you are going to go on any of these collections maybe also click on the
creator address and go to collections and do explore other collections that
the creators have launched on the marketplace but this was about what
was happening on the marketplace on the PV but not everything there is so much
more because Sabda was up to certain things asked one way for our flicks fam
as usual so I already mentioned about the what we were doing about the Genesis
meetup at Sri Lanka but there is another now quiz which will be happening so one
quiz will be happening with flicks fanatics and that will be on telegram
this time there is another story why this is going to be on telegram I'll
come to that but this time it will be on telegram live quiz at 1400 hours on
Saturday but there will be another quiz by gata tau on the discord and
they are rewarding 500 flicks tokens to the participants and winners and flicks
fanatics have decided that they will also be rewarding some flicks tokens to
the winners there so make sure that you do participate in both the quizzes this
weekend and make sure that you collect those flicks tokens take some maybe use
the stating rewards to buy some NFTs and also share those NFTs on Twitter
when you mint any NFT on omni flicks marketplace or if you tip flicks tokens
on omni flicks CV share your experience on Twitter and if you have any question
suggestions reach out to us now Liam I mentioned that the quiz will be coming
back to telegram and I'll tell you the reason why for the past two weeks we
were doing our quiz on zili and what happened is now is we do a lot of lot of
questions zili probably I think I can I can probably know very confidently say
that flicks fanatics zili account is probably the most active community sub
tau zili accounting cosmos ecosystem and I cannot even prove that because in the
first 20 days we have exceeded the number of claims possible on zili in a
month for a project and we are not able to not put up new quest until first of
February because there were so many participants who had come in and
claiming those quests and XP tokens sorry XP points that the the maximum
possible quest and claims have already reached by 20th so we we were doing
quizzes there and it was very very successful but we have to now move it
to telegram but rest assured that we do appreciate everything that you guys
have done on zili and end of this month there will be announcement probably a
special announcement of the winners and hopefully we will be able to reward all
the people who are active on our zili quiz this three weeks of January now
there is another interactive video which has been put up by one of our genesis
creator elements of cosmos he has put up a Gdaw VIP promo NFT giveaway video and
if you are participating in that you would be getting an NFT and if you are
lucky you might even be able to get a special NFT which might be eligible
for even a EOC token airdrop by them so this and now probably something what we
are going to do in the future you know since we started doing our flicks Friday
we have really got very good interactions very good participation and when we are
planning to do the next flicks Friday we realized that most of the times we
were doing FF which is flicks Friday but this time it is going to be FFF fixed
flicks Friday February so it has to be special and all I can say is be ready
for second February because this time you would like what you are going to see
that's all I'm gonna say there are a lot of alphas there but probably I will give
the stage back because I'm really excited about all the updates the team
will be giving since yesterday we just upgraded our chain to Omni flicks hub v2
and what is Omni flicks hub v2 right now it is a secret phase what you have to
choose when you come to claim your proof of participation NFT on Omni flicks TV
but that's just a secret phase for right now but the upgrades what has
happened is going to probably take your experience in Omni flicks hub to the next
level for that I will give the stage back to the hosts and I will come back
thank you for the updates there super with regards to flicks and fx looking
forward to flicks fly day February that goes well we are not sure if we'll be
doing the I think sister might be able to do the flicks updates the Omni flicks
updates because he can't hear any of us at the moment so we're a little bit
challenged there I'm gonna let him try and speak and then we can react if if
we can hear him so hopefully he can share some updates spare with us
hey thank you so coordinating with me on telegram I'm glad that you were all
able to hear me well I wasn't able to hear any of you and due to the fear of
you know ending the space I did not like experiment a lot with the account so I
will quickly go ahead with some of the engineering updates that you have first
things first just yesterday we had the Omni flicks hub v2 upgrade this has
been an upgrade that has been in the works for quite some time now a few
months to be honest and this involved quite a lot of effort from a protocol
standpoint from the engineering side of things and you know special thanks to a
node host validators relayers partners that know been tops top of Omni flicks
Omni flicks hub and all of them came together to make sure this was as
smooth as possible and as successful as possible the success rate here is
measured by the total number of issues that you know creators community does
face you know after the upgrade at least at this point in time we do not have
many I should say initially there were a few that were concerned about the
duration of the upgrade and there were questions around you know what happened
to my Omni flicks tokens and things like that of course after the upgrade when
the Explorer you know when Kepler was back up and running you know they could
naturally see the tokens and you know their queries got resolved but other than
that we did not have much so what did this update include or upgrade include
this upgrade included the transition the migration of the NFT standard for
those of you that want to know more details this is similar to shifting your
standard of NFTs from the from your own native standard to the ERC 721
standard if I may say that on in the Ethereum world the equivalent to that in
the cosmos ecosystem is the XNFT standard which is protocol native NFT
standard so there are two types of NFT standards in the cosmos ecosystem one
is the XNFT which is a module a cosmos SDK module to handle non-fungible tokens
and there is another standard called the CW 721 which is the cosmos 721
standard and you can see multiple chains such as Juno, Terra all of these
utilize the CW 721 standard directly and then you have teams like stargaze
that extended the CW 721 standard similarly Omniflex has extended the XNFT
standard with the ONFT Omniflex NFT standard so you know there is the XNFT
standard within the cosmos ecosystem and extending it with the ONFT adds more
capabilities is probably you can consider this to be you know taking up
XNFTs and you know putting them on steroids so the kind of power that is
delivered to XNFTs with the ONFT is quite huge and you'll soon see more of
that so if this is upgrade number one you know we had a over a million NFTs
that that were migrated and this process went very soon again thanks to our
testament validators, mainland validators and all of our node hosts and partners
this went really really well and smooth and we expected for the upgrade to be to
take about an hour it took about an hour 12 minutes so I think we were very close
with our estimates and it went really well. That being said we also now have the
ability for interchain NFT transfers that's had a protocol layer right now
there are no UIs but interchain NFTs are live on Omniflex if you are a
developer if you want to test things out definitely do check it out but as
people that have been following Omniflex since a year around this time last year
there were UIs interfaces developed primarily for testing interchain NFTs
and the experience will be similar I'm 100% sure the experience will be much
better than what it was a year ago so that is with respect to interchain NFTs
so your NFTs across other ecosystems can now utilize the Omniflex
infrastructure and vice versa. Now if this is a second major point within the
upgrade we also have the stream pay module for the time-based transfer of
tokens from one account to another up until now there was gas fees and there
was a 50 Flix flat fees for stream creation with the price of the Flix
token being volatile you know this 50 Flix never remained constant and you know
caused I won't say issues but you know definitely was a point of friction for
stream pay sort of option the protocol sort of option. Now we've introduced a
module where if you are streaming say Atom or Osmo, Juno or Vava to from one
account to another you should be able to pay the fees the stream creation fees
right the payment stream creation fees in the token that you're transferring so
it is a 1% at this point in time the yeah the fees is at 1% so if you are
transferring say 10 tokens 10 Osmo you should be able to pay 0.1 Osmo and
probably get done with it or if you're transferring 100 Osmo from one account to
another all you'll pay is 1 Osmo as fees. Now this entire experience has
been planned considering stream pay to be ready for further adoption across
multiple ecosystems and for use with other IBC tokens and this has
been and yeah of course the 1% fee can be controlled by the community through
governance so you know if you think this is too high or too low definitely
participate in community discussions. Now if this is about stream pay the one
of the more exciting updates was the introduction of token factory. Token
factory allows you to create your own fungible tokens issue them right on
the Omniflex hub blockchain and you should be able to utilize all of the
Omniflex infra as well as move them around IBC and utilize other protocols
for your fungible token. This is we see this being utilized primarily by
communities for their fan tokens for their creator tokens community tokens and
with the interaction of smart contracts you should also see additional tooling
around say DAO DAO or DAOs get implemented on Omniflex and all of the
communities should have access to that. Now if this is with respect to the token
factory these are like our four major points when it comes to the upgrade
first the migration of the NFT standard to interchain NFTs the commission based
model for payment stream creation within the stream pay module and of course we
have the introduction of token factory. Apart from this we had updates to the
Cosmos Hub SDK version from 0.45 to we've skipped the 0.46 and I
moved to the 0.47 version so Cosmos SDK 47 as it is popularly referred to and
there were also updates to the IBC module there was the introduction of
multiple other updates to core modules and OZ is now enabled across all of the
modules that you see or that you have within the Omniflex protocol or the
NFT. So you can utilize you can take the OZ permissions for an account or you can
give it to someone else for them to manage all of your assets without you
actually using custody of them. This is a key feature you know in the in building
infrastructure for say studios brands agencies because a brand might want to
create their own account and hand permissions over to an agency but would
not want to lose access custody of their assets so this is you know although
it might be a part of many other Cosmos based chains the use case is pretty
unique to Omniflex. That being said these updates you know are not all you
know available in the UI for you to interact today but that is the plan in
the next few weeks you should be able to see more UI's get rolled out the
Omniflex market and the Omniflex studio apps are also being updated not
just for this upgrade but in the prep for the next upgrade which will
introduce custom awesome on Omniflex. So more about the custom awesome testnet we
already have a definite running I think for those of you that are regulars you
already know this but we were waiting for this upgrade before we start ops on
the next one but we are already ready to start a few things off and we should
be able to keep you out posted. Yeah very excited for this one quite a lot for
every stakeholder people that want to build communities people that want to
build you know that want to like transfer tokens in a different way or integrate
them with an integrated stream pay within your app people that want to also of
course you know have more interoperable standards for NFTs you know the
developers themselves you know they can all now access this infrastructure and
of course bring about NFTs to Omniflex and vice versa. Yeah I think from an
engineering standpoint these are the current updates of course we have a lot
that is already in the works not just for the next upgrade but even before
that and yeah exciting things happening with the Akash network and you should
be able to see more news on Discord on the Omniflex Discord in the creators
channel as well as in the Akash network Discord server so with that being said
I'll hand it back to Liam and Super. Thank you sister thank you really great I
know you can't hear us but hopefully that gives you some insight to the
engineering updates happening at Omniflex. I was looking at the upgrade and
thinking there's a lot of changes so yeah really good stuff. Super do you have any
thoughts specifically on the updates coming? Well I actually didn't have tried
some of those and can say that I really like to know where it's going
because now if you would have seen one of the tweets today by the bad dog
founder that token the bad dog token on osmosis is on Omniflex marketplace but
all I can say is that's just a big name it's going to be soon like what I just
mentioned happened with Omniflex TV so irrespective of what token you hold
where you are you would be able to use the dApps on Omniflex now and won't be
restricted to some of the yeast some of the tokens that and then well even the
experience the UI experience everything has been has been worked on to make it
more easier more accessible and probably you know I'm sure that this is not part
of the updates but let me I always love to give alphas to people who stick
around to the space and listen to the fanatics so the alphas that make sure
that you all already put your alarms for the next flex show because it's going to
be another special event with a very special guest and that will be tinder
with something which is coming up on Omniflex TV so make sure that you do
participate in our events quiz whether it's a AMA whether it's a daily quest and
set your alarms already for the next Wednesday space thank you thank you super
and also I think Sesla wanted to share a little bit more very quickly on
supporting osmosis tokens on Omniflex so we're just going to get him back up to
yeah thank you Liam again for coordinating and indicating me to speak so I just
wanted to share a very small update that if you're on Twitter today you might
have seen sneak peek of this update on the Omniflex market right now we have
support for a token called bad dog now about the community you can always
research but the significance of this with on the significance of this with
within the Omniflex ecosystem is that if there is a token on any chain and if that
utilizes say osmosis or neutron or Kujira or you know maybe from the celestial
ecosystem we should be able to support the core blockchains of these ecosystems
for osmosis zone for neutron it's the neutron zone for kujira it is the kujira
core blockchain and so on so forth so with this support we should be able to
bring about any token that exists on each of these blockchains and we should
be able to get them to utilize omniflex infrastructure or tomorrow if say you
know we also have Korean concepts in the room here so quickly talking about them
they're from a different ecosystem the Korean ecosystem and if they have tokens
that are minted on the Korean blockchain and utilizing their infra
they want to utilize on flicks should be able to support one chain get all
those tokens here and we should be able to expand the use of omniflex
infrastructure to each of these communities now if there is a lot of
demand for this token from osmosis or corium or kujira or neutron then we
should be able to relay something natively so that the community can
directly onboard themselves utilizing from say neutron or osmosis or kujira or
corium directly to omniflex right there are multiple you know such use cases so
bad dog is a token that's actually should on the chihuahua blockchain
right they're a token factory token on the chihuahua blockchain that has been
IBC to osmosis and that IBC token from osmosis is now on omniflex so the
significance of this is huge you know we're pretty stoked to introduce this
we could not wait for the next version of the marketplace to be able to introduce
this and you know with support rolling we intended to try this out but you know
definitely and I don't know all the issues or you know any any edge cases we
might have to handle but this is omniflex getting ready for future
community expansion and if this is with respect to the market with omniflex TV
IBC keeping creation of channels many more NFTs you know right within TV you
know all of these are really exciting as well and will promote the use of
omniflex infra quite a lot not only within the cosmo cycle system but the
wider ecosystem that being said I will hand it back and it over to you
thank you again I know you can't hear me but hopefully everyone listening that
was really insightful from sister about how different tokens different chains
could be utilized by omniflex particularly they're going through osmosis
and I actually haven't got too much more to share on my side the plan for
the space was to have sisler hosting with me co-hosting and I've kind of ended
up in the host role and super on your side is there any kind of update you
have anything else to share or anything we should maybe chat about I suppose
this was the major updates what we wanted to share in the space but keep
an eye on omniflex network Twitter channel and on flex fanatics because
there will be a lot of those which will be rolling and this will keep happening
until we reach our second chain anniversary on 22nd of February 2024 so
I suppose this is a good time to probably wrap the space and make sure that you
claim your proof of participation NFT on omniflex TV guys try it IBC
tip token maybe try any token apart from flex and see how it was and keep an eye
all right so I guess we I've messaged sisler to let him know to kind of end
the space so we should get kind of ended any second but just quick shout out
to everyone tuning in we always have these kind of issues on Twitter spaces
there's always some kind of problem but we keep going forwards I think it was a
great space appreciate all of you here so people like seen Korean concepts
farmer flips and ethics how to grade snails good to see here again mr. Fox
every one of you can't list you all one by one but appreciate every single one
of you tuning in and we will end the space see you all next week
thank you all I'm not too sure if Liam wrapped it up I'm sure they did but thank
you all for joining in to flick stock 103 and yeah tune in again next
Wednesday at 2 p.m. UTC for flip stock 104 as we'll share even more updates
about the about everything happening in the field source and the vital cost
from circles too thank you all have a great weekend ending the space in 3 2