Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
FOMO HOUR: Jobs Report Beats, Zero Chain and MegaETH with Bread
Recorded: Feb. 11, 2026 Duration: 0:57:59Space Recording
Short Summary
In a dynamic discussion, crypto enthusiasts explored the launch of Layer Zero's new blockchain, which promises 2 million transactions per second, and the upcoming Mega ETH token tied to performance metrics. The conversation highlighted significant partnerships with industry giants and the potential for growth amidst a challenging market.
Full Transcription
Thank you. Oh . Thank you. gm everyone and welcome to another episode of the fomo hour today is wed, February 11th, 2026.
Folks, it's been a very busy last 12 hours of announcements.
Crypto and just a broader macro here in the U.S.
So we had the jobs report this morning.
Somehow a surprise major beat, if you can trust the numbers.
The El Paso airport had an unprecedented 10-day flight restriction
that lasted for about three hours and then was lifted just about an hour ago.
And then Layer Zero, last night, some are calling it the most important blockchain announcement since Ethereum.
We'll get into that and a whole lot more on today's show.
I've got my good friend Logan here to help me break it all down.
Logan, Jim, how you doing?
Hey, good morning tyler
yeah i'm doing well it was uh a throwback day in crypto it felt like getting those layers
zero headlines some robin hood stuff a nice change of pace uh that lets you forget about
prices a little bit anytime we can forget about prices that's nice it's been uh you know during
like a little bit of the bear market blues some of the
daily headlines have been a little harder for me to to find inspiration to write about like oh you
know so and so bank is adopting it like ets blah blah blah uh the later zero stuff was genuinely
exciting so i'm excited to talk about it on today's show did you see did you wake up and see this El Paso? Just briefly, I saw the tweet and then the follow-up tweets that it was shelved, right?
So for some perspective, this is basically an unprecedented airspace shutdown in the United States.
I guess it kind of happened for New York city post nine 11.
But as I understand it,
this is actually even more,
it was more significant than that.
And there were some reports that it was tied to like cartels had flown
drones across the border from Mexico and they,
they could not ensure civilian aircraft safety.
And that's what sparked it.
But then somehow within three hours hours now we can ensure the safety
so i'm sure more information will trickle out but i mean pretty severe response there to shut
not the shutdown for like today like they did they announced a a 10-day shutdown then just
totally reversed it so something's going on and i don't think we've heard the last of it, to say the least.
I think some of the tinfoil hat theories, like DC investor pounding the table,
he thinks the Trump administration is going to do something big,
drastic to distract from the Epstein files.
He thought it was going to be an Iran strike.
Now I think it's maybe going to be a Mexican cartel strike.
I'm not sure if I'm all the way there,
but at the same time,
wouldn't necessarily surprise me. So I am glad it's lifted and perhaps we are not facing an
imminent airspace threat in the United States. I am happy about that. Folks, what are we going to
talk about on today's show? We actually have kind of a lot. So crypto is selling off for some reason.
I don't know why. Stocks were green. Maybe they're reversing. We'll check in on those as well.
We're going to go through this Layer Zero announcement in detail,
arguably one of the biggest announcements of the decade for blockchains
and blockchain tech.
Robinhood is also testing out the chain.
We'll get into that.
We'll talk Robinhood earnings, what it means for crypto,
what it means for prediction markets.
And the back half of the show, we have our good friend, Brett,
Brett guy stopping by.
We're going to talk mega ETH mainnet, what we can do on there,
plus a lot more.
And of course we've got our Yeet action for today.
At the end of the show, we will do our Yeet spin.
I think it is weighted Wednesdays,
a favorite for those who do log in and play on Yeet every week.
So the wheel will be weighted based on how much folks have been wagering over
on neat over the past week.
So if you will be included in that next Wednesday,
get in there and play.
Mando's not here,
but I did see him tweet this morning.
Another record day of eat action with 10 hours to go.
So they've got some folks pumping volume through their platform.
You love to see it for Mando and team.
With that, I will do my best Mando impression and kick us off with the market report here this morning.
Thank you, Producer Charlie.
But we can just get right into it.
I'll take a look at the crypto board here for
those in the stream we are live on kickinx of course bitcoin i don't know down four percent
66 150 so we're we're selling off live i think i saw this at 68 uh just uh maybe 20 30 minutes ago
so we're going i'm seeing uh wrong screen tyler i think i'm seeing a wrong screen, Tyler. I think I'm seeing Twitter notifications.
All right.
Love you.
Thanks for.
There was nothing good there anyway.
Good.
But all right, there we are. Okay.
So Bitcoin down 4%, 66,100 ETH down 4.8%, 1925,
SLANA down 5% at 79,65.
So crypto majors down four to 5%. So pretty rough sell-off here, though not necessarily
a huge surprise. This does come after the jobs report that was arguably the biggest macro data
point of the day. There had been a lot of telegraphing ahead of time that this was going
to be bad. It was not bad. It was a major beat. Non-farm payroll is up 130K. Consensus was 55.
Unemployment at 4.3%.
Consensus 4.4%.
So it came in under.
So pretty wide beat on the jobs report, if you can believe it.
And I think that's part of the problem.
We've consistently seen these jobs numbers revised down as time goes on. The lookbacks are revising them down. So I think
folks are actively expecting that to happen here again. Okay, stocks have flipped negative,
it seems. So NASDAQ opened up around 0.7%. It is now red, but kind of flat. So stocks are flat on the day. Silver's up 4%, gold's up 1%,
copper up 1%. So this is really, it's a crypto sell-off, folks. I hate to say it,
but once again, that's where we're at. Stocks are flat, gold, precious metals are up,
Metals are up.
Crypto is down 4%.
Sign of the times here in mid-February, 2026.
We went through the El Paso shutdown.
I'm not really sure if that's having much of a market impact.
I think it's really just the jobs report here this morning.
And then the other news was the hood earnings.
I do want to get into that.
Let me find the tweet here.
I shared some of the numbers last night as we got their earnings.
But in a nutshell here, I've got it now.
Total revenue, $1.28 billion.
It was a record for them, but it did miss estimates.
The revenue did miss despite 27% year-over-year growth.
Earnings per share was a beat.
So revenue missed, earnings per share beat.
Total platform assets up 68% year-over-year.
So overall, pretty decent numbers, but it's a different picture when you get into some of the crypto numbers.
So crypto notional volume, $82 billion, up 3% quarter over quarter.
Transaction revenue was down 18%.
So some crypto flat slash declining prediction markets up 400% quarter over quarter.
So crypto growth stalling, prediction market growth soaring.
I think that's kind of in line with what we're seeing broadly across the market.
Of course, Q4 was a very rough one for the crypto market.
Let's check in on hood stock here today.
Down 13%.
Wow.
Let's zoom out on this.
So where's the last time we were at this level?
So we've erased since June 2025.
I think we're back approaching my average cost basis.
I did not sell any like a fool.
I mean, even a year ago now.
So if you bought on Valentine's Day last year, you bought 65.
And now you're up 15%.
So it's a 50% wipeout now from local highs on October 9th.
Interestingly, HUD does seem to be trading in line with the crypto markets,
right?
Like it basically,
it peaked on the day before 10,
10 and sold off.
I'm curious.
Yeah.
Look,
he's like,
what are your thoughts?
Like,
is there a level here where you're,
where you're buying or is it too correlated with a crypto portfolio?
Yeah. I've been thinking a little bit about that and it's correlation to crypto. Of course, you know, like I'm already, where you're buying or is it too correlated with a crypto portfolio?
Yeah, I've been thinking a little bit about that and its correlation to crypto.
Of course, you know, like I'm already so exposed in so many different ways. Like, do I want to continue to maintain strong positions in these sort of tangentially related assets that are just, you know,
basically tied to what happens to the price of Bitcoin?
So I haven't made a move yet, but it's something I've been thinking about. I still see this as a, you know, like the biggest
number that stood out to me that, of course, you know, doesn't jive with the stock price is that
that platform assets number was that like, you said 68% year over year growth. Yeah.
$324 billion seems like a lot to me still. And this is anecdotal.
Robinhood feels like the place where a lot of young folks are putting their money to work, some for good and for bad, given the prediction market growth.
So that's still kind of the thing that I'm clinging to a little bit as a reason to not jump off here just yet.
And plus, because I have been dollar cost averaging into this,
which I still am doing, you know, I'm still fortunate. I'm not trading it, of course,
but still fortunate to be up on my position despite this massive drawdown. So not doing
anything just yet. I did think it was interesting, just the double down on prediction markets. I
think Vlad said something about a prediction market super cycle. I might've seen those words. I'm not sure he actually said that, or if that was something
I just caught on social media that somebody is making up. But I don't know. It's an interesting
period of time. I'm not rushing from it. I'm not rushing to add to it either. I'm just going to
continue to kind of layer in and bring down my averages given the sell-off. Yeah, I've got some
more numbers here. So 2025 annual, $4.5 billion. So they're trading at 15X annual revenue here at
68 billion, net income 1.9 billion. So on net income, they're trading 35, 38X.
Net income, adjusted EBITDA, 2.5 billion.
So a few additional numbers there.
So I don't know, perhaps still somewhat expensive.
I think the prediction market growth will be one to watch. Yeah.
I mean, it does feel like, I don't know its correlation with crypto stuff,
generally speaking, prior to this last cycle.
Probably somewhat correlated, just given it being a more, at least in my view, a more risky asset.
And financially, obviously very closely tied to the financial markets, given its brokerage.
But it will be interesting to see how the market has almost exclusively put it in that bucket now, you know, alongside crypto.
And the prediction market stuff is not going to help that, I don't think.
I mean, that probably only further ties it, as I think prediction markets, even though maybe not too much is happening on chain, some of it, of course.
But I think prediction markets are seen as like a crypto adjacent phenomenon.
Yeah, but they're going up and to the right.
As crypto does not.
Yeah.
But that's the difference, right?
So like the headline tells it right here.
So Robinhood skids on revenue miss amid crypto direct.
So they're just tying them together.
But if you tie them to prediction markets instead, you paint the different picture.
So it's a little bit of the narrative there,
but folks,
we got Mando in the house now.
Mando,
Jim,
how you doing?
GM guys.
How are we doing?
I'm having a day.
We're just,
we're talking about how crypto is down 4%.
Those stocks are flat and precious metals are green.
I know.
I got the tone from Logan's face.
I came up to the studio. He doesn't. He doesn't. and precious metals are green i know i got the time from logan's face as i came into the uh
into the studio he doesn't he doesn't want to go around where logan lives i think
just take him to a nice dinner you know uh have a little therapy session together
it's not tough it's tough out there at the moment you know what i can i can pinpoint it
he's yeah he's dieting ahead of his wedding.
And I know personally that when I'm in food restriction mode, I'm much less happy.
And I'm much more angry often as well.
So we'll chalk it up to that.
Mando, we did a quick run on the market.
We didn't go super deep yet.
We were just talking
hood um i mean not a ton of a big macro as we talked to jobs but anything jumping out to you
no just that i think that range is we'll see if it gets even more defined here yeah should be the low 60s that's kind of where i'm i'm looking at um i did buy a bit of hype
uh yesterday i held off on buying a lot of hype let's go that way um
everything i mean it's bad.
I love that, guys.
Like,
if I,
I'll just bring up my trend following stuff,
maybe that's a good way to
just kind of give an understanding.
So Bitcoin broke down again
on like
the higher time frames.
This is what it's just like there's no
it broke it just broke down
again even on the
smaller ones so
there's nothing I go through
every coin that I have and they've all
broken back down on the one hour.
The only one that didn't was Monero,
which I thought was interesting.
You know, it was actually held up okay, it looks like,
in the sell-off.
And then Solano was, like, a tempting one,
and then just died.
Not good.
On Mapro, stocks are not really moving.
Gold is attempting to put in a high high here.
So gold looks the best and maybe copper like I was talking about before.
I like those two right now um
i have to say tech stocks don't know great like um main was talking about this yesterday that's
something that i feel as well like we've kind of broken down losing slight momentum up here
and i could see a little bit of a dip.
I don't know what causes it, but I can see a dip.
And I think that could lead to a bit of a sell-off on everything.
It's tough to be a buyer in this market, I have to say.
You're catching a falling knife in pretty much everything at all times.
You're kind of just hoping that it feels a bit bottomy rather than like,
oh, this is a strong trend which I can get behind.
It's like, this has got to be a bottom.
I hate buying things like that.
I hate buying things like that.
Because that's how you get absolutely smoked.
So I'm going to continue to not partake in this market.
Apart from that little bit of hype,
which I bought,
which is basically around here.
And then keep holding my gold on Google.
Yeah, I have to say that tech stocks do look like they're turning slightly.
Is this the QQQ?
Have you pulled that up?
This is QQQ.
Okay.
I have a good trading buddy who's short the QQQ? Have you pulled that up? This is QQQ. I have a good trading buddy who's short the QQQ.
He put it on two or three days ago.
He thinks it's going lower.
I think it's going.
I don't know when.
These are the sort of trades where I think it looks like it should go,
but it could take many months.
So it's one of these ones where
I think it can be a painful short.
I think it can be a painful short
being short the QQQ.
Yeah.
But it does look like stocks are just...
It's not that they look overly terrible.
They just look like they're losing steam.
That's how I would call stocks right now.
The only thing kind of gaining back steam is gold.
Like, look at this gold.
It went back down to 4,500, and then we didn't really get another shot.
It went down to, like, 4,600, I think, on one of the dips.
And now it's just going to power back up,
and I have to say gold looks good.
It does look good.
I mean, you could have a situation here where it chops a little bit
and then goes up, but gold looks the strongest.
Silver looks okay, but definitely gold looks stronger than silver here.
Can we pull up the one big mover in crypto, the zero token?
Yeah.
Yeah, we can.
Which looks like it might be breaking out of a multi-month trend, perhaps?
Yeah, zero looks good.
Zero looks like it's broken out to the upside in pretty much every single timeframe.
Yeah, looks good.
I don't know about that, but like, Do we need more block space?
I don't know.
I don't feel like that's our problem.
I'm not that bullish in L1.
I do think this is an interesting new L1.
It's an interesting pivot by that team.
I really like that team.
I really like Brian Pellegrino.
But it still doesn't fit into my overall investment thesis at the moment,
which is just that L1s are a bit challenged.
So, yeah, I think it's interesting.
I'm not sure if it will be like the fix.
You know what I mean?
I think that's the I think it's interesting. I'm not sure if it will be like the fix. You know what I mean? I think that's the challenge with it in general and a few thoughts on the trade.
And then maybe I'll pull back to the announcement.
I have the same concerns.
Like it's an infra trade.
The market seems very tired of, of infra at, at the moment.
But then what, so I did enter this just over two last night and kind of what my trigger was
i was just copying it to monad i was like this is the same price as monad with all these major
backers with this impressive tech on display like that doesn't look right
um so that was a part of my thesis and then just the the general price um folks in the comments
are calling it out like clearly the other overhang on this is there are big unlocks the unlocks have
started but effectively by the time the chain starts there's going to be almost two x as many
tokens circulating so you do have to be aware of that i don't think that the team's fault. Like you can kind of separate the token from the team.
And I think they've done a really good job, like interesting pivot here, right? Zero was more like
a bridge point. And they said, you know, we're going to go down the route of actually doing
a full chain. We're going to like almost change the infrastructure of a blockchain
in doing it. I think that's a cool thing to do.
And then you have to say like, is the token a great buy well a lot of tokens are a great buy because of the way that investing works and
you know there's a i see um i see dudas getting some flack on the timeline for talking about
pump fun over the last 24 hours. That came up on my feed.
He was like,
pump fun is such a good investment.
And he's like a big holder.
And there is a bit of that.
It's been like,
well,
maybe this is a bit,
it's time so that investors can get out.
Who knows?
Make an independent judgment on, on the coin yourself.
But what the team is doing,
I think is,
is interesting
i'll come back to that because i got a lot of hate in my comments just for simply
talking about what the announcement was and the reply guys are out like oh this is uh obviously
like a group who's who's pumping zero ahead of the unlocks uh undisclosed paid shills. Guys, I wish Brian Pellagrino
had paid me to post about it.
He did not.
But so what the actual announcement is,
if you did miss this,
and their announcement essay
is kind of long.
But basically, Layer Zero
unveiling this new Zero L1 blockchain.
They're targeting 2 million transactions
per second TPS.
Put that perspective,
that's 100,000x Ethereum
capability and around 500x Solana.
They're launching...
What happened to MegaEV?
Well, we've got bread coming on in
5-10 minutes to tell us all
about it. I'd love to hear the difference
between this and that. Yeah, I think we'll
definitely want to address that
with him.
The Xero team laying out like three primary zones use cases.
So they've got general purpose EVM, privacy focused payments, purpose built trading venue.
A big part of the announcement was their backers and partners.
So Citadel bought some Xero tokens.
They're collaborating on trading and settlement.
ARK Invest, equity and tokens, Cathie Wood on the advisory board.
You can read into
that what you will. DTCC is going to explore tokenization on zero. ICE, which is the New York
Stock Exchange parent. They're looking at it for trading. Google Cloud, exploring AI, agent
micropayments, Tether Invested as well. So some pretty significant backing there. The way I understand that they're solving the issue and they demoed it is that Ethereum basically forces every validator to do the same work, which ensures decentralization and security, but it is inefficient and lowers speed.
Solana gets speed by having higher hardware requirements, but leads to less decentralization.
And effectively what Xero is doing is enabling a two-fold approach where you can do validation at a smaller scale, effectively using these ZK proofs.
So they've got these block producers and block validators that do different things running on different hardware, which enables essentialization and speed. So it's a big
vision. They demoed it. So assuming this does work in the fall, it will
be a substantial tech. Folks like Fubar came out. Fubar called
it the biggest blockchain announcement since Ethereum.
And I do think he's a thought leader that a lot
of folks do look to.
Yeah, if you're saying that, then maybe I should look at it a bit more.
First team to actually unlock 100x scaling improvements
while preserving decentralization, actually improving it.
Bullish on the tech, of course,
that doesn't necessarily tie to the token value,
which is an unfortunate dilemma that we're facing in 2026.
So I did take the trade.
I disclosed that.
I'm trying to think through where to take it from here because I also I'm not blind.
I see these unlocks.
It is hard on paper to hold this trade through to the fall launch, knowing the circulating tokens
are almost going to double.
So for me, that does make it maybe a little bit more of a short-term trade.
Look for another dip for a longer-term entry is kind of how I'm thinking about it.
Logie, I've been talking a lot.
Curious for your reactions to this.
Yeah.
Well, firstly, the essay itself, if you are a blockchain enthusiast or a technologist
in any way, you will probably really enjoy it.
There are a lot of big, big words in there, but they're calling this a heterogeneous blockchain, right?
Trying to break free from the homogenous blockchains which have been created thus far.
That was the dual purpose that you were talking about, Tyler.
So encourage anyone who really, really loves blockchain architecture to give it a read. A lot of it is above my head and above my pay grade. So I have
to see it in full when this actually gets out there. But I think the thing that was most
interesting to me were the partnerships, Tyler, you mentioned. When we've been talking about new
blockchain launches, at least from my perspective, I've been talking about who's going to do stuff here.
How is like boring institutional money going to get here?
And they have that kind of like built in thus far with just these partners that have been
announced right away, as you noted, you know, Citadel, ARK and Bess, Google.
That I think that matters a little bit.
It gives it, you know, perhaps not like longstanding success, right?
But it just gives it a big leg up to get it off the ground because they all have vested
interests in making sure it has, you know, some use, hopefully.
And I think that does matter a little bit for the token as well, which is going to empower this entire thing.
So yeah, not a lot to add to the conversation that you just shared.
I'm eager to see it in practice.
That's for sure.
It's something I think that definitely warrants paying attention to
once this thing actually gets off the ground.
Token, well said, thank you.
Token's up 40% on the day.
Pretty huge jump.
It does look to be at a pretty key level.
Just eyeballing this,
it's basically sold off at this level
three, four times
since the summer unlocks began.
So if it's able to get through,
we'll see where the the next level
gets to on this chart but looks like we've got our good friend bread in the studio
let's get him up here bread gm how you doing what's up boys i'm on my little rocker standing
getting the core workout under my desk standing desk got to – can't be grinding too hard.
We're in health maxing mode in the bear market.
It's the bear market, guys.
This is what you do.
You got to go back to the basics.
It's been a busy week for you.
So how are you?
How is the team doing?
How is morale this week?
Morale is good.
As good as it can be in like a market
that is not especially risk on it's a gift and a curse right now for us so for those listening
we obviously launched meg euth uh on monday or at least opened it it's been launched for a little
while now um and yeah it's been a juggle right everyone is seeking safe capital deployment right
now even in our chain, like our young chain.
They're going to lending markets.
They're going stable pools.
And they're not exactly diving into the risk on games
that we have available, stuff like that.
But all in all, sentiment's good.
Chain worked.
Our dashboard here is pretty comprehensive.
So we're proud of what we shipped.
First off, I love the landing page.
I love this new trend for change.
The abstract kind of did this.
I think Monad may have as well.
But the idea that you have a one-stop hub
where you can launch apps,
you can figure out bridges, everything from there.
So I think good idea.
And notice, you see top right,
you see you have a little notification there.
That might be for one of the two things going on right now click on that what are we showing yeah so netizens
minted yesterday and they minted out they were like two and a half over floor price nachi's going
on right now that's a guy's been building in the space for a long time you see for you page right
there that's specifically to your address so your address specifically with all these should have
been checking my notifications yeah we're trying
to make it so people because like we know it's going to be a rollout right like it's a young
ecosystem stuff's constantly happening no one can stay tapped into every ecosystem so that
notification panel is curated specifically to you and then the broader ecosystem i lost some money
by missing this because that netizens mint was a nice one yesterday yep um by shiro the the goat of
ethereum artist well let's talk about the rollout here and kind of what went into decisions i'm
curious if you were a part of that that process because it seems like you launched with some apps
you perhaps purposely held some apps back for a bit of a staggered rollout so i'm curious kind of what went into that thought
process yeah i mean like listen it wasn't like intentionally like oh we should stagger this
because it's the best way to do it it was you can't coordinate you know a hundred teams to
all launch in the same day without jeopardizing the actual quality of some of these apps so
um we chose a date we tried to forecast the date we said this is the date you know guys come and be ready you see those nine apps there those are all apps that are ready there's
more that are live but we featured these guys um and they're ready to go day one and there were a
few that were even trying to push for monday launch and man we've been out testing everyone
you see right around the corner these are apps that are you know days to weeks out and then
there's some that are months or weeks to months out and then there's some that are months or weeks to
months out and then marching forward so we're trying to like forecast all that but for us right
like our entire thesis like you need to unlock like net new apps novel apps we chose a date we
try to get people coordinated around it and if it didn't work out it's fine like we we want the apps
to be the best apps that they can be and if uh it required them sitting in the oven a little longer
we just said do it uh we'll market you guys promote you guys lift you guys up whenever time is ready
i like it i like the staggered rollout it can be a bit overwhelming you know coming day one and
seeing 30 apps um to even know yeah still you want some good ones though, right? You do. Yeah. You want something like you don't want zero.
Yeah.
Like you want greater than zero.
Um, perhaps less than 50.
That, that might be my, my personal view.
Um, and we can come back to some of the apps.
I do want to talk a little bit bread about the, the TG announcement.
Yeah.
I, I liked the way it went down.
Brother Bing coming out saying MegaEth is a token business and tying TGE to KPIs.
We knew that MegaEth was going to be KPI-centric.
This was a bit of a surprise tying the TGE to it.
I'm curious to hear from you kind of what went involved,
what was involved in picking these TGEs,
how quickly do you see or forecast that they're met?
What else do people need to know?
I'm going to see.
So I think it's actually if you go back to the MegaEth page,
I don't know where the link is, but just do,
it's megaeeth.com slash instead of do do uh token at the top i believe is the link
um we we built a kpi page we didn't actually release it or announce it but it's there for
people to come and um i think it's on our actual megaeath main site there's a token tab that
actually will take you there there you go so these are the tges visualized and demonstrated
so people can keep us accountable see how progress is on anything. And the rationale for this was, man, I think we all
can see the market is brutalizing a lot of charts, right? Everyone's going down, nothing's good. So
we have this thing that as a token business, we value, right? We think it's something that is
worthwhile. We're building our entire entity around it. It would be nonsensical for us to
ship this thing out into the world without any of the
underlying things tied to it doing well showing strength right because it's just like like the
analogy i use is like throwing a baby into a pool of sharks right everyone's just looking for liquidity
they're going to dump this thing because it can't be used so we said okay we have two things that
we know the token is going to be used for or that like we're considering one was we have our native stable coin usdm uh that has rewards associated to it roughly like four percent that can be gathered
we have already expressed interest in acquiring the mega token with the proceeds that we get from
that so as the ecosystem continues to grow tvl climbs into hundreds of millions to hopefully
billions uh all of the yield are sorry rewards for that can then be flowed back to us
acquiring the token. So that's one thing. So we said we want the TVL to actually be
a decent level. We've set ourselves for 500 million in stablecoin TVL. That's roughly $20
million a year that we would get. And that's a good basal level floor for us. The other two
are ecosystem health metrics. And the reason we picked
two ecosystem metrics, one is just apps being live. The other is fees being generated, showing
like actual good economic usage of the chain is the other usage for mega that we have announced
is this thing called proximity markets, which is, you know, if you understand the construction of
these chains, um, actually, you know, I don't even go into it if you guys understand jito jito makes a lot of money because people pay to like get included better into the solana blockchain
right because as meme coin activity picks up you want to get close to jito you spend jito you send
bundles and you make money that's all derived from ecosystem health we've basically enshrined
a jito in into our chain and we call it proximity markets, and it'll be denominated in Mega.
So as these professional entities or even apps
want to have the best execution they can on MED,
they pay, they bid in Mega to get better execution.
And all of that, what would traditionally be MEV
or priority fees, is basically gone to Mega holders.
It's a buy demand for it.
So we have those two key pillars
that we're trying to show
had a basal level of success
so that whenever the token launches,
it has usage.
Very interesting.
I recall you talking about that conceptually
one of the last times we got together.
This is the analogy
where it's like the big hedge funds
who are layering their
own cable wires to get connected to the the stock exchange exactly got it and because it's the same
thing like if you understand how like base base makes a shit ton of money from make building
blocks if you understand the micro structure within blocks, the very first slot in a box
or in a box, a block is makes up like 95% of all of the revenue that they make. And then two through
100 million make up the rest of the 5%. It's just very, very, very valuable to be first for obvious
reasons, right? So we are basically making people pay in mega to be first on the mega blockchain.
And the bigger, more powerful entities are looking to do that.
And that for the DeFi ecosystem leads to tighter spreads, market making, all this stuff.
Got it.
That all makes sense.
A couple big things, macro events have happened in crypto in the Ethereum space over the last couple of weeks, which do impact mega Ethan.
And I'm curious for your reactions.
First,
we'll start with Vitalik.
So Vitalik kind of came out and made his two comments,
basically saying L2 is perhaps no longer needed.
If you're going to build an L2,
make sure it has one of these specialties.
I think of course,
a lot of discussion around that.
I think you've come out
and made some posts i'm curious for your reaction to that and what makes you know mega east response
slash how how does it stack up yeah yeah i'm i bull posted that because for me it was a validation
of the thesis because what he effectively said and the best way i described it inside of internal
chats was right previous construction was you had had Ethereum and then you had Ethereum Plus.
Ethereum Plus was like base, arbitrum, optimism, whatever, where it's like, it's basically Ethereum, but it's a faster, a little cheaper, but not like crazy so, right?
And then he came out and basically denounced the Ethereum Plus strategy and said, no, Ethereum is going to be Ethereum Plus.
Like Ethereum is going to scale.
Ethereum is going to be better.
But there's still limits to that.
Ethereum is not going to be the giga specialized, giga performant thing.
Like it will be faster and it will be better, but it won't be the extreme end of the spectrum.
And so what he was saying is like, we will be Ethereum Plus.
We think if you're going to build on us, you should either be something like a lighter,
right? Lighters making very specific trade-offs to be a, uh, uh, performant trading venue, right?
Or you should be a mega ETH, right? You should do hyper, hyper scale and do things that no L1 can
do anywhere, which is what we're doing, right? We, the three of the points that I called out
specifically that like we actually embody one was the proximity markets i just talked about he said stuff to do
with mev and low latency systems like that's explicitly what that is he mentioned enshrined
oracles which we partnered with chain link we have an enshrined oracle within our sequencers so that
uh teams basically get the best execution or like they don't get any any drift in pricing because
we front run them with an or Oracle update so that it's literally transaction
and most recent pricing,
one-to-one every single time.
And then hyperscale,
which we just demonstrated on Mainnet.
So yeah, I was very excited about it, frankly.
That all makes sense.
And my interpretation of it as well,
I thought Meg ETH was just fine,
fit into one of effectively the exceptions
or what he laid out that
you should focus on.
Whereas maybe some others are, are perhaps not, not quite as fine.
So that, so that was one big announcement.
And then yesterday we got the, the zero announcement, which is still relatively fresh.
But, but curious for your reactions to that is mega ETH like kind of front front running
zero with respect
to speed um because what refreshed me on mega eth tps goals did you did you see them merc uh
ethereum in that post like they were dude they were going after them i may have missed them
abandoned its principles and lies to everyone on like what it actually represents and all this
shit i did not see crazy yeah yeah it's like i
mean it was a book that they dropped on everyone but it was like halfway through there that stuck
out to me um yeah i mean like the i would say it actually dovetails well with what we just talked
about where vitalik was saying l2s if they're going to do something should be hyper specialized
and do things that l1s can't.
The numbers that they proclaim, legitimately insane, absurd.
2 million TPS per zone, whatever.
Now, I try to check the numbers a little bit.
They have been releasing some pretty impressive research papers
the last six months, 12 months.
And actually, even one of them we peer-reviewed.
Our founders, Yilong and Lei, they peer-reviewed one, the QMDB database one, because they're database architects.
So that is enough for me to say like, tech's probably real, like they're doing some novel
shit. But the vertical that we are specifically going after is not TPS. Like, yes, we're going
to need a world where we can do millions of TPS, hundreds of thousands of TPS, if we actually want to like have global adoption, but our specific vertical
is in an area that no L1 can ever do. So like for these guys doing this as an L1 means there's,
they're still outside the scope of something that can compete with us because that's what the
real-time moniker is meant to showcase right layer ones because they have consensus because
they have decentralization because they have all these nodes because they do that they they
literally cannot operate in a level that is at the threshold that we're operating that's like
the 10 millisecond block times that's all that shit they just can't do it it's it's a fundamental
property of physics so for me like yes the tps is really high and impressive, and it's needed.
But I'm not worried about it because our edge was never raw TPS,
although it is really nice.
Our edge is the real-time aspect, and then no L1 can do that flat out.
Yeah.
Well, I think that makes sense.
I appreciate your thoughts on that. I'm sure we'll see more and more comparisons um as the the story proliferates
here but of course we're a little ways away i think they said fall um so you go did they give
a date i saw andy was saying it would be a fast follow like eminent i believe fall 2026
logan correct me if i'm uh wrong on that I think I saw that in the announcement too.
I mean, it's pretty quick for a mainnet, right?
So you'll have at least an eight-month lead.
But now, zooming back in on MegaEth,
we're all familiar with the market conditions where you show up every day.
How are you all thinking about customer acquisition, user acquisition, and growth in a time where it feels
like 75% of people have left?
Well, yeah, so it was always the apps.
So like apps is always going to be the thing.
So honestly, the strategy doesn't change.
So whether it's a bull market or a bear market, you need to have differentiation, like and
differentiation comes from things that appeal to people on the app vertical. So it's still constantly demoing what we can do and then
trying to bring to market and add new experiences for people. And we'll continue to roll out apps.
And we still have, it's one of our KPIs, right? We have 10 as a minimum apps from within our
accelerator. We want to have live. We have another 10, 20 behind that, just within our ecosystem and
then within our accelerator. So we'll just keep rolling through stuff, 20 behind that, just like within our ecosystem and then within our accelerator.
So we'll just keep rolling through stuff,
showcasing them, demoing what,
like what is different on MegaEath and then continue to innovate ourselves.
I am particularly pilled on the AI world.
So like I am doing my best to make sure
Mega is a FAFO playground
for people who like to experiment with AI.
So like, you know, I made a developer toolkit
so people can just spin up real time, like low latency apps instantly. Like one of our apps
that went live, this is just like a side project that I'm doing. So one of the apps that went live
is Ubatel. And you can actually get internet on Megi specifically. So like, you can go,
you can get some tokens, tokens like you get a data plan for seven days for free,
you can try it out anywhere in the world.
The team innovated on some TE stuff, which is pretty interesting.
But yeah, so it has that.
And I'm trying to get it to where my CloudBot can, using Mega, get internet for free.
Like just instantly sign up.
So I want people to like be able to come and like set up their CloudBot, get internet,
have your text your friends or, you know, do whatever and have that just like all facilitated by the chain.
So I just want to experiment.
I want people to experiment.
I'm going to continue to like
facilitate that
and help people grow
and do stuff.
I'm actually,
I vib-coded another project.
I'm going to launch that here
probably in a week or two.
All right.
That is pretty fun.
But just, yeah,
it's crazy what people
can do these days.
And I don't think people
realize like the level of
you can just do things
that is unlocked
by leaning into some of this ai yeah so how's your experience
been like because i think you posted a couple weeks ago that you had a crash album but yeah
dude it's existential yeah yeah you either ride the lightning or or you'd like abstain right so
like i'm riding the lightning and like i'm embracing this shit i want to understand it i
want to like 10x myself but i feel like we're we're running towards a cliff and like it's going to be awesome until it's not awesome
um i don't know i'm maybe stubbornly optimistic that it's not going to be falling off a cliff
maybe going down into a valley um are you playing around at all yeah i feel like i was a little bit slower i'm
not using ai agents i think my view on the the open claw is that we'll have a more secure way
to do it from one of the big players in a couple weeks and i'm finally waiting until then you kind
of do with co-work and stuff now and like i can do enough personally with with clawed clawed ai that i don't necessarily
have the the use case for the personal assistant just yet and also just like the pricing concerns
like i mean how much for some of your side projects are you are you running that all with
like the 200 a month plan or are you running out more all right yeah well yeah i know admittedly
i started off because there's like two ways you can do it you can do a 200 month plan you can generate a code doing that or you can do it by per call through the api on on cloud code
and i ran up a good bill on that for like a week and i was like guys this is not sustainable there's
no way i can keep doing this because it was a couple hundred bucks of just like burning these
tokens and then i was like i gotta find a way around this i think i have like 50 bucks in kimmy and 50 bucks in chat gb like i would do i was i was hooked for like four days just like
buying everything like a fucking fiend um but yeah now it's sustainable it's good and honestly like
you mentioned the personal assistant stuff it's dude it's you don't even need it to like
bro call the fucking store and have them order bananas for me like that i that's stupid i but
like it is actually useful like the way that you you want if you understand what it's actually
doing you you are fundamentally limited by how lossy your words are right like whenever
if you understand these llms they have a context window right the context window is like how much
information they can consume and hold on to and then be effective with right so like whenever you
type hey man like i have something to do later i want to do the thing can you help me with a website
that's a lot of characters very lossy like the raw data that that is is taking up a lot of bandwidth
for the llm to ingest and be effective with and what you do with the clod bot is you you send that to him
or it i call it him because i'm fucking losing my mind yes you're wearing the light you said it to
clod bot clod bot takes that and goes oh and it's a it's a local script it's all local so you're not
querying any api here it like it runs a little local process and says what this person actually
needs is this and then it can can communicate with the LLM in a machine language.
And the machine language is much, much more dense.
Much, much more dense.
So you can contain so much more information in that.
So instead of you having very lossy, very soft words to communicate something, it's very dense, code-based, like whatever.
So you can, because of that, because of the additional context,
you can pack into this stuff.
The effectiveness of these things goes through the roof.
And so,
yeah,
man,
it's,
it's super useful.
Like I'm literally launching up.
I don't know.
I don't know how to write code and shit,
but like if you do the right stuff,
like you can actually get the right information and you can have it like
iterate.
It's pretty nice.
It is.
It feels unlimited.
Your power to a degree with what you can do um any alpha on your
project like what type at least like what it's a speculative one um yeah uh i mean it's it's not
gonna be anything net new but i'm like it's it is something that is has been iterated on in the industry and i'm doing another iteration
on it and like it's uh yeah like it just like accounts for a lot of like recent developments
and stuff so it'll be be interesting i just want people to speculate like bro it's like i'm gonna
be honest i'm i ported all my my took my assets most of my assets over to mega it's like i want
to build this thing i want to realize it and like see what our weak points are and bro there's not a lot of assets and stuff so
it's like there's you know i want to do more stuff to do and the only way to do that is to play on
the chain and realize where the gaps are so i'm doing that and i'm like trying to like like i want
something to speculate on so it's like fuck it i'll make something to speculate on so i'm doing
that i'm building it and i'm i want people to realize that they can do it too so taking that out a little bit further so like megeth wants to be ai friendly so like what
does that mean like how do you actually attract ai builders is it like a tool set is it like is it
marketing it's a little bit of everything like it's one just making it to where like one of it is just information
ingestion for these LLMs, right?
So you as a cloud code user,
I want you to be able to point to a single repo and say,
go read this.
Say it's a skill set, which is what I built.
And now based on that,
you have all the information you need to deploy smart contract in a low
latency way.
Like we have some very unique things that we recommend
as best practices to build on meggy to have the best app that you can which is different than
other ecosystems so if you can just if i can just point you guys to a single file a github repo
whether it's like the claw bot skills or whatever and then you guys can instantly deploy an app that
is effective and like use it or and it's like low latency it's like a good experience that's great
that's great for me so like there's that kind of stuff which is like the the tools and then there's the like the actual um
infrastructure stuff like we had ethereum foundation deploy the 8004 registry on mega
eth on monday same time as mainnet so that means people can instantly um all right so but it's it's
like ai agentic service registration for a reputation system so you see if there's an agent
out there as an example,
because I was curious,
like what the fuck does that even mean?
Looking at an example,
there's like one that's entire job
is like vetting token contracts
for whether it's a rug, whatever, right?
Like we kind of already have some of that, right?
You've tech screener and shit do that,
but it's an emerging thing, right?
It's something that's ever evolving. People come up with different techniques to fuck on you like it's bad
so like someone built an agent that's entire job is just to continuously vet token contracts and
see if there's any unique exploit to it whatever and that's a service that it provides you pay for
it with x402 that's a the pay via API system, right? And then it can build
up a reputation in this 8004 registry. So like those two things in conjunction means, you know,
I can have my agent say, hey, looking at this token, go check it out. He pings this agent,
which is very specialized in vetting these tokens to see if something is a rug or not,
can get sign off from it, can pay him in a couple bucks, USDM is our native stable coin.
And then if it's
looking good eat twenty thousand dollars into it right so you get like this compounding system that
you just want in place and all that's automated for us that's good we want a lot of transactions
we're cheap at scale right we had fifty thousand tps but basically zero fees the other day while
we're doing a stress test so like you know we're trying to like continuously just like build on
these things
because it'll be a fertile ground for people to experiment.
Love to hear it.
And really like that vision.
Logie, I know you had maybe a question
or two for Brett before we wrap this up.
Yeah, hey, Brett.
One thing that I'm thinking about,
I love the approach, the hope for novel apps and stuff
as an on-chain user.
We're all rooting for that.
But I'm curious, Ethereum and all the Ethereum-related networks out there,
tokenization, the institutional adoption, the future of finance,
that's the big thing right now.
Just curious about MegaEath's plan to tell the story to institutions
if it's doing so right now,
and piggybacking onto that trend if it so chooses to.
Yeah, so I think it's useful.
Assets, novel assets is something
that we're very interested in.
Tyler was showing off our dashboard earlier.
And in the rabbit hole,
like we didn't do the traditional categories.
Like if you want a DEX or a PERP DEX or whatever,
like those options don't exist as a category.
We had categories that were like consumer DeFi, which is Euphoria, which is the tap game on front of options protocol in the
backend. Same thing with hit one. Hit one is a, it's effectively slots, frankly, on top of a
perp protocol. If you go to the bottom, sorry, scroll it. Yeah. All the bottom is in all apps.
Click on that.
So these are all of our apps.
So you see the categories.
So one that we're actually interested in, you see novel assets up at the top.
It's like novel assets is a place for people to go to find these net new assets that they can only get on MegaEath.
Supernova's one, CAPS one.
capsule and if you take off the live now you'll see some that are coming like bricks so to say
And if you take off the live now, you'll see some that are coming like bricks.
that um we are interested and like am i talking to blackrock i mean i guess technically because
hello trade is launched by two guys who actually launched ibit like it's literally the guy the
blackrock guys um but no we're not talking to blackrocks to do that but we are doing stuff like
bricks um which is bringing on the turkish lira uh for the turkish
lira carry trade which is one of the biggest institutional carry trades in the entire industry
like it's it's the most scalable one that is out there so those guys are bringing it on and
tokenizing it and we'll plug it into our ecosystem and those guys are actually like we're not the
ones having the conversation but they're talking to a bunch of big banks in turkey like they have
a lot of um close relationships with with them so they have a competitive advantage so we're doing it but i wouldn't say for and it's a focus for us novel net new assets but it's not
like we're talking to the nasd or whatever maybe last question so what does success look like over
the next three months like we've got the kpis right i think we all know that but like what
will you be happy with three months from now april may um i don't like if we haven't april may
if we haven't hit our kpis by then i'll be upset yeah like we're gonna be busting our ass to make
sure that we like this ecosystem
has real reasons to come in now there's obviously there's only so much we can do there with you know
like i i can't launch apps for other people so like somewhere at the behest of them actually
launching some of their own stuff but you know we're taking this seriously and you know whenever
we sit there and we talk and and push against a hyperliquid or a Solana or whatever, it's, we're serious.
We want to try to actually grow this thing in a sustainable,
but also novel way. So yeah, nothing,
nothing below what we've already set for ourselves.
All right. Well, we'll be rooting you guys on and congrats on the launch.
And an exciting one. And we'll continue to play around.
Thanks. Always open if you have questions of course thanks for joining us um all right producer charlie i think we're at
the end of the show here let's go ahead and do our spin this is our weighted wednesday
so this will be based on volume i think over the week. So let's get this up here and going.
Again, folks, we're not going to do the yeet action today.
We're going to have all our winners from this week back next week for some mega action.
Oh, boy.
All right, here is our weighted wheel.
It's a good day to be green, perhaps, but we'll see how the spin goes.
Let's give it a run.
All right. Looks 13. You got it. Yeah. 50% of the action.
You were expected to win 50% of the time, my friend. So you have one. We'll check back in next week for your live action.
I want to thank all of our listeners for tuning in today.
I want to thank my co-hosts.
Thanks, Brad, as well for joining us.
Folks, we'll be back tomorrow at 10 a.m. Eastern.
Until then, go make it a beautiful day.
Goodbye. Thank you.
