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Get your weekly dose of Alpha Leaks. Tune in, ask questions, share good vibes!
Recorded: March 21, 2025 Duration: 0:25:05Space Recording
Short Summary
This week's crypto highlights include the SEC dropping its case against Ripple, significant advancements in blockchain technology with the launch of Aurora EVM, and the Near Protocol achieving over 10,000 transactions per second. Additionally, the Zcash and Near Intense Hackathon is offering $70,000 in prizes, fostering innovation in the ecosystem.
Full Transcription
I'm going to be a little bit of a little bit of a She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
She cures the tip in a combo lamp for 60 seconds.
Hello everybody, it's Alexksy Shemshenko here as always at this time on Friday on X YouTube
and our Discord you are able to see Friday Alpha leaks with Aurora.
In this live stream we are sharing the updates from the ecosystem and the wider blockchain
community what happened this week and also presenting our own point of
view on all of this stuff. Since this is a live stream, you're able to ask your questions directly
in chat, say GM to everybody, and with that I'm just going to dive straight into the updates and
into the news.
So thanks to all of you for joining
and thanks for being active.
Don't forget to subscribe and like whatever you see
if you like it or comment if you don't like it
or comment if you like it, whatever.
Do your thing and interact with this
the way you would like to interact with it.
This week was a very important thing for the wider crypto community,
and it was the FOMC statement from the Federal Reserve.
And what they have been stating is that the federal funds rate
was kept at the level of four and a quarter to four and a half percent.
Why this thing is important, right? So if you are in crypto, you probably have seen already
people that are referring to looking into this, you know, rates, a federal rate, and it is not very clear
how this thing is actually changing
and how this influences the markets and stuff like that.
But let me give you like an L.E.5 explanation
of how this thing actually influences the market.
So this rate is connected with the rate
at which people like ordinary people
and also institutions are able to borrow money
from the banks in the United States.
So the higher this rates,
the higher is the interest that you need to pay for loans.
the higher is the interest that you need to pay for loans.
What it means that the higher the rate is,
the more expensive money are becoming
or the more expensive US dollars are becoming,
not from the standpoint of the exchange rate,
but rather from the standpoint of liquid money
that you're able to get.
And together with this, also the rates on the deposits
increase, right?
So the higher is the funds rate, the federal reserve rate,
the higher is also the deposits, which
means that the deposits rate, which
means that if this rate is whatever, let's say 10%,
then people are able to get 10% by just holding their assets in the bank.
And that's insane. This is a lot.
But it also means that the loans become extremely, extremely expensive.
So nobody takes the loans. That's as simple as that.
And what it means that the higher the percentage,
the more people and institutions are shifting towards
just not investing money into something that is risky.
And something that is risky is stocks
of the technological companies,
and obviously even more riskier thing is cryptocurrencies.
So the more expensive money become,
the less liquid assets available to the people
to invest into risky assets or in the cryptocurrencies. So sum it all
here, if the rate is increased, it means that the like the
natural tendency, right, this is not 100% correlation, but the
natural tendency at this point would be people getting out of the riskier assets.
And when the rate drops, the natural tendency is to people to get more exposure to their risky assets.
In our case, this is cryptocurrencies. So that's the thing. The fact that that
FED is not changing this rate means that well things have not changed but in
general from what I observed from the market this was taken with like a
positive spin that the data is okay, the projection is good and in the future
there will be some additional rate cuts
that are expected. So that's a 101 and explain to me like I'm five
thing about the Federal Reserve and why this data and this monetary policy is extremely,
extremely important for especially risky markets.
Moving on to the news from the wider blockchain ecosystem,
the SEC is completely dropping the case against Ripple.
So our congratulations to Ripple and to SEC also,
so that they're not starting,
like stopping chasing the witches, hunting the witches.
And I do believe that this is a big win
for the wider blockchain ecosystem.
So congrats to everybody here.
This week, crevdepotato.com was publishing an interview from me and from several other people on the Bitcoin Strategic Reserve.
In general, my point of view on this is that this is a proper and straightforward move and a very good move. US is leading the way here.
However, the whole market was expecting a little bit more than just keeping the
seized Bitcoin funds.
And because of that, at the moment when the Bitcoin reserve was announced, the
market was kind of going down.
was kind of going down.
So the expectations were higher.
So the expectations were higher.
And also yesterday, Trump was not telling anything new,
no additional executive orders on the conference.
So again, that was bringing the prices of the crypto
a little bit down.
That's kind of the thing that was happening around this. However, independently of anything,
governments cannot move extremely quick at the pace of the crypto. So even the fact that
the government stops prosecuting crypto businesses, stops the operation choke point, acknowledges the innovation that
is happening in the blockchain and cryptocurrencies. It's really, really good. So from my point shift. Okay. Cool. Main Aurora account was joking a little bit about what we have been
doing and actually some of our team members really decided to give more updates to you guys. So these are the things that were
done by the product team and these are the things that you are able to do to see right now in the
Aurora Cloud console on auroracloud.dev with regard to your virtual chains. There are lots of things
that are happening there. The team is deploying every single week something new.
So please check it out, especially if you have not been there for some period of time.
Crypto Daily was publishing an article about virtual chains and in general L2s and the
struggle around the infrastructure. So I would like to remind everybody that the
main difference in the Aurora approach to building a technology that allows you to launch
a blockchain network from L2 approach. So the core difference is that when you're launching an Aurora virtual chain,
this chain is not separated from the mother network on which this chain is launched. It
is not empty. It is connected with all of the infrastructure that exists on the near blockchain
and also other Aurora's virtual chains right now,
but it will be also connected
to all of the future infrastructure that is created.
That's the beauty of the solution.
Virtual chains are not the empty spaces
like L2s when they launch.
You get all of the infra by default.
You get stable coins, bridges, oracles,
custody solutions, integration with centralized exchanges,
everything from the first block.
And this is done for free.
You don't need to pay anything for this infrastructure
on your own virtual chain.
So you're able to get all of this on aurorocloud.dev
right here, right now.
You can just go there, click through some buttons,
and get your own virtual chain right away.
And then you can test your own hypothesis of the product
and the chain, your chains there in literally minutes from now.
Yesterday, there was a game night in our Discord
and community gathered to play some games.
I hope you didn't miss this.
And just share your thoughts about this stuff.
Comment here.
Should we continue this?
By the way, I missed it.
I have, as you might probably know, maybe not,
a friend of mine gave me a present for Christmas.
And it is a PS5.
And it actually sits right behind my laptop here.
And I played it once.
Need to do it more, probably.
Maybe. But yeah, maybe we need to do it more probably, maybe.
But yeah, maybe we need to do something.
Whatever.
Are there any good competitive gaming on PS5?
FIFA probably?
I never have ever played.
But anyone would be able to win, right?
So at least that's good.
One trillion agents winners showcase
is going to happen today.
And everybody who won the Aurora's bounty there
will be presented will be presenting there.
I once again say thank you to everybody
who have been participating.
And I would also say that the prizes
and the distribution of the prizes
is going to happen before the end of today to all of the winners. Thanks everyone and looking
forward for the future development of these projects. This week was something interesting
that was happening. Something that the Aurora engine team has been waiting
for a pretty long period of time.
And this is the release of our own Rust implementation
of the EVM that we call Aurora EVM.
The story here is the following.
When we started to Aurora,
we were doing the review of all of the Rust implementation
of the EVMs.
And back then we decided to use Sputnik VM
that was highly supported,
project in a very good shape back then.
We have been using it,
we have been contributing a lot into this project, but at some
point in time, around a couple of years ago, the ideology of Sputnik VM changed and it was not
suited very nice to what we have been thinking of how the EVM should be implemented.
So we forked it out from Sputnik VM and started
to have our own branch that we were fully maintaining.
We were adding all of the functionality
from new EVM releases, from the new Ethereum hard forks to it.
And also quietly, or not so quietly, but with lots of work,
we have been contributing into making sure that this implementation
runs all green on the EVM test suite. This is the official test set of tests that are run against
EVMs to make sure that it is fully compliant with the current Ethereum version.
And already for a long period of time,
the our implementation of the EVM runs,
passes all green on this test.
And we thought that because of so much work
that was done here, it deserves to have its own name.
It's no longer just a fork of Sputnik VM.
It is now called Aurora EVM.
It has the version of 1.0 and it is available to everybody.
We encourage everyone to use this because to our knowledge,
this is the most robust implementation of the EVM
in Rust programming language.
And this is a pretty major milestone for us.
And in case you would like to contribute into this implementation,
everything around the EVM implementation is open source,
so you can use it and also you're free to contribute into it.
We would be happy to see your contributions.
Another major milestone happened this week,
and we are going to talk a little bit more
about re-sharding of the Neural Protocol.
However, a pretty cool thing happened.
As far as I understand, for the first time,
Neural Protocol transactions per second
counters surpass 10k and actually we were closer to probably 12k or something like that because the
the time I mean I didn't check but the medium time in between near blocks is something around 1.1, 1.2 seconds.
So, and in a single block was almost 15,000
near transactions, which is insane, which is insane.
I never thought 10 years ago
that I'm going to see a blockchain
that is capable of doing 10,000 transactions per second.
But apparently, at least in the peak,
this is possible.
So pretty cool to see this thing.
And I wonder what is going to be the next.
And the reason why this was possible
is because of the resharding that happened
on the near protocol.
In the beginning of this week,
we woke up with six near shards.
And right now there are already eight shards.
These happened in an ordinary nearest fashion
with the network even not skipping a bit.
And actually there was something new
in this particular resharding
because it happened within a single block
because of this new technology that was introduced
or this new feature which is called stateless validation.
And the stateless validation
and this particular resharding
are gigantic step towards the dynamic resharding,
the actual targets at which we would like to see
the new protocol where the protocol automatically adjusts the actual target at which we would like to see the NIR protocol,
where the protocol automatically adjusts the number of shards
or the capacity of the network to the load
that actually is seen on the protocol.
That's a tremendous and great achievement,
and congrats to the NIR1 team for making it happen.
So pretty cool thing.
Ilya has been doing a talk on the NVIDIA GTC conference.
He was talking about AI and user-owned AI,
confidential and verifiable AI compute.
This talk is actually available on the live stream.
I've seen it and probably there is somewhere
the recording of this live stream.
So I encourage everyone to take a look at this.
Nears governance is not standing still.
Lane was publishing the initial set of endorsed delegates
again, if you would like to get a little bit
Deeper in this future house of stake and how this thing should work the future model of your governance
Please go to the gulf.mere.org and see there are lots of posts around this stuff
And I'm happy to to say that Aurora Labs will be presented here
in the list of the endorsed delegates.
We would be happy to contribute towards the newer governance.
The only thing to remember, endorsed delegates,
they are able to propose and act.
And they would be actively involved in the governance.
However, they are not making decisions based
just on the fact that they are endorsed delegates,
but rather the decisions are established
based on the allocation of the staked near tokens
or like delegation to the delegates
of this staked near tokens in the house of
stake.
So which means that it is actually people, it is actually a wide community who is influencing
the governance decisions and this is happening just through the delegates to make it a little
bit more convenient.
And the last thing that I want to share with you is that this week, it was the Zcash and Near Intense Hackathon that started.
Now 70,000 US dollars in prices are there up for grabs
for anyone who is willing to build use cases US dollars and prices are there up for grabs for
Anyone who is willing to build use cases on top of the unstoppable private money and unstoppable liquidity
So if you are just out of the one trillion agents hackathon and you're thinking of what to do And maybe you didn't win a bounty there
And you always wanted to think to work a little bit in the direction of
the private money well maybe this is an interesting thing or like this is an
interesting event for you to participate in so check it out with that I'm going
to stop sharing my screen and go and look through the through the comments here. I've seen that there is a number of it.
CC was saying that Aurora should implement the Token Burn
system.
There is a Token Burn system in Aurora.
I'm not sure why you are mentioning this.
mentioned in this. And yeah, and more actually, I've prepared a proposal to update the Aurora
token economy together with the governance processes. This is something that is just like I'm finishing over the next... over some time.
And please expect it to be shared in the Aurora's governance forum.
So, yeah, that's... I think this would be an interesting spin on the things.
And Non-Lifetaker is asking, when near OTC swap will be official?
I'm not sure what you are referring to in here,
but on nearIntense.org, the OTC swapping
is available already for several weeks.
It is available on the swap tab.
And inside of the Swap in tab, there are two tabs.
One is active, one is swap.
And this is like if you're using swap,
means that you're swapping against the market maker
or like together with market maker.
So the system kind of tries to find a market maker
that is going to fulfill your intent.
Or there is an OTC where you're able to create
your own swap and then
share it with a friend or with a counterparty
so that they are able to counter sign.
So this thing is official already.
Marco was good at poker.
Marco is extremely good at many different things.
I can participate every two weeks.
Okay, cool.
Quiz, quiz.
I would like to participate in quizzes.
Okay.
Thank you, Sisi.
Okay.
And it seems like that's the, that's the's all of the news for today.
Thanks everyone for joining today and tuning into our updates.
And as always, we are going to see each other in exactly one week from now
on the next Friday Alphalic Sessions with Aurora on the platform of your preference.
And until then, have a good one!
