everyone that listen to the recording welcome.
and take you in events. Let me go and pin some people. We forever want to join in. We have the line and a couple of council members to join.
Okay, let me just wait a little bit from the line people and console members to get in.
and we can get the space rolling.
make ping that again. Okay, so then see the navigation.
Okay, okay, socks here, requests to come up and speak.
Can you hear me? Yeah, come here.
Hey, what's going on? So much just chilling. How are you liking your Sunday so far? It's pretty good. Actually visiting some family. So it's been nice. Nice time all weekend. Yeah, I got some like midterms too.
with so I'm gonna have some fun later today. Shit. I don't know Speddy and yeah. Good luck with that. Yeah. Let's see. We got Slurge here too. You could Slurge up.
So I actually have a good amount of stuff coming up this week, which isn't excited for us all.
You said the ETA for the line platform could be like this week, right?
I think you gave me a day like the 24th, so like this Friday.
I was stuck on mute. Sorry. Yeah. Yeah. 24th man. We're still it's exciting. I'm very it's very exciting. Are you guys excited? Yes. Is the is the multi-sick also going to be live the same day or is that coming like later on?
Yeah, so it'll be together. Like you'll basically that that serves us like the treasury, you know wallet, right? So yeah, we've been using. Shubis. Lots a lot. Yeah, that used to it. We do a couple of votes a week, but like
payments and whatever. Squads is great too. Yeah, I don't think like, you know, we say like really what a line is meant for is like a treasury, not not treasury, sorry, but like the Dow fund, right, that is meant to
that the community can make proposals with that amount of funds. If it's all of it, you know, great, some projects are put some of their mint funds, you know, some projects have like a very specific purpose of what they want to do with those funds. So like, you know, if, if
it all, like it definitely more than welcome to continue to use other, you know, like squads is definitely has its purpose as well as all I'm trying to say. Yeah, I think we're going to be using a mixture of both. So I think yeah, I think we're going to send up
all the payment requirements to let's say squads. So it's easier just to pay people and have all our salaries and then if there's any unexpected expenses or anything that we want to add on, then it will be through like the proposal system through a line.
Yeah, no, I think that's a great plan. Yeah, I think devour is supposed to come up here as well He's gonna join from the phase account so we could give him a second
See, it just for some like, DGNOW news for the people in here. So this week is actually going to be a lot of stuff going to happen. So we have a partnership with a C launchpad and we're going to be talking more to C like projects. I'm getting to know them better.
Just more informational educational stuff. I'm going to go after wireless, so we're going to be well prepared in the head of the curve from everyone else. I think the main thing is still going to go live in like two to three months. So there's plenty of time to figure all that out.
For Twitter, Twitter has been slightly a little bit on the DGINDA account, so we hired our first like intern that was going to be managing all our Twitter stuff. And then also adding a couple of like features and you call it as yeah, go on there.
How are we doing today guys? We're doing good Marcus. I love to hear how's that job going did you
When are you getting a response? I have an interview tonight. We'll see how she goes. We'll keep that up.
Appreciate you Tommy, appreciate you. Saw how we doing today. It's been a while. How you doing boss?
This is Marcus Marcus. Yeah, it is. I can't keep up with your PFP changes. You're always doing so much. It's great. But I'm like, no, this isn't the Marcus that I know. You know, I got a plan. So I'm up in two bags.
nothing too bad. I got to find some Pete Bean stick to it. I was hopping between my Bitcoin Bandit and this lately. So I'll constantly shift in these days. Yeah, the bandit, the bandit looks nice. I got like a Hannibal Lecter on the Biker jacket. Oh, they're so cool.
Yeah, if your PFC is not changing every week and not in the end of the season, and all the PFCs I switched to, I knew at PFC every day, I just did a dig thing.
Oh yeah, I remember those good old days. Yeah, I feel like not so little different though like you're like I Don't know like try and make a name for you. Yeah, I think more people going for part of your for brand things. Yeah, but I don't really care. Just rock with
whatever. Sometimes it's memes, sometimes it's like a thing I own. It's never like the most expensive NFT. I don't think I ever walk my most expensive NFTs in like likes whatever NFTs I have.
I think we have Seb here too. I don't know if he's requested it come up but Seb, if you're not busy, you should come up and take it. So yeah, oh beauty.
So we should be going to just to overview what the line is for the people that don't know what's about. So people expect what's going to happen in a later this week. So we can go into that and
We can ask questions and just to slow more about the platform and what the holders of the agenda we have. Get.
Who wants to start it off? I can kind of start it off. I'll let sub kind of say hello first though. I know he's just doing. Okay. Howdy guys. Morning, morning, morning, morning. The whole face. What's up? DJ, DJ, DJ Dow. DJ's English.
Thank you everyone for coming up here and taking time out of your day to talk and vibe with us. Thanks for having this man. We appreciate it. Welcome Seb. So I guess I'll give a quick intro to him to Vauer and the, let's say, one of the the leads here at Phase Protocols.
Thank you, Degendile, for having us. And I'll give a little quick rundown about what a line is. And Degendile will be one of the, if not the first people to alpha/beta test it. So, um, grateful for them. And looking forward to seeing what we can do with this product. But on a high level, I'd say,
say a line is a new form of governance, something very big brain we think we're little biased so on how NFTs can actually be governed. So high level it's a Reddit like forum where community members can express sentiment for ideas by proposals and be paid for their
contributions. So you make a proposal. Let's say you want to make a video of some sort for the community promotional video. You can propose that and then the community members can vote on it, up vote, down vote, reddit, style. And then you can have an actual council, which I think DGN.
will or this council can be made up of the team. But what it basically does, all of the top ones, the top voted ones will go to the top and the council get to vote on whether or not they think that this is a good proposal for the overall health of the project. And if
If it's action, then that community member gets to execute, unsaid proposal and gets paid to do so. What we think it can do, there's a lot of things it can do. So I'd say another use case could be, I know the dead kings are thinking of using it this way, almost like an art vault.
deposit money into the align governance and the community members now get to vote on which art they want to buy as a doubt. So there's a lot of different use cases for this. You can also use this like a royalty vault. So let's say majority of royalties come this way. Then there's now incentive for the community members to pay royalties
is only royalty paying NFT holders, I'd say activate, not activate, participate, that's the word I was looking for, in align governance. And then the align governance vault is constantly growing because there's now incentive
and no I'm in these incentives to pay royalties. So there's a lot of different cool things you can do with it, but that's what I'd say it is at a high level, and I've pinned it to the space, a nice little thread that our good friend, Slorik, has wrote about it. So guys, if any questions, I'd love to hear it, but yeah, I'd say very high level, that's what it#
I'll just add that we're like couldn't be more excited to finally get it up and running like we've you know been obviously testing and the devs have been working really hard on the backend but like me on the business development side
on marketing side, I'm less involved with that, so I'm just really excited to actually get my hands on it and use it. I have some to gendow and I have to use myself so I could test it out as if part of the community with you guys.
So I'm excited about that. So I have some questions. So I think there's that you said there was an XP system for people participating
So can you elaborate more on that and like how it works and like let's say you're active in one down you joined the other How about like XP turns over? Yeah, I think I'll let if Floor's here. I'll let Floor take this question on the points He was very involved in this discussion
Yeah, so before I answer your question, I actually kind of want to contribute a little bit more to just the overview of what align is really good, and then I'll get to your question. But I think it helps to present the problems that it's solving really, and the problem in most NFT projects is multifaceted.
and I'll just go over a few of them. The first of which is that buyers and holders don't have a strong incentive to pay royalties at all. If you think about it, they kind of feel like you're tipping the team. Like, you know, have the order from a restaurant, you get the delivery driver a tip. That's kind of what it feels like at this moment in time. They don't really have a strong use case other than that#
The second thing is that community members don't have an easy way to contribute their skills to the project either. It's a complex process and it's very messy. You have to tag down the team, you have to have a conversation with the team, you have to demonstrate your skills to the team and all of this.
and hold it at this point to be to really scale to any degree. So most community members with skills, they'll just decide not to contribute them for the most part. Number three is that there's little transparency in how funds are spent at all in projects. Like if you're good at tracing the blockchain, you could probably infer some things.
But for the most part, you don't know where funds are going at all. I know a pretty reputable project, the project leaders recently stepped down and holders used to praise this project for being one of the best builders in the space. But me and some others, we found out that he actually banked 90% of the mint funds.
So, and no one knew that and the perception was actually quite the opposite. So there's very little transparency in how any of these funds are spent at all. Also from the project team side, responsibility for the project falls entirely on the shoulders of the team and I think we've seen multiple instances of this where
teams get completely burnt out and they feel like they're unsupported. Most project teams don't even have their own in-house devs, so it's usually just a bunch of biz devs. It's very tempting, I think, because there have been no repercussions for us to just kind of step out when things get a little hard.
The final one is that even when they do contribute holders are not guaranteed compensation at all. Most of the time they're forced to contribute just to ensure the floor doesn't tank and their bags don't tank either. This kind of like a sunken call spallacy ampt of the 11th level. So there's a lot of dysfunction within these entities.
the T projects and those five problems I just named aligned solves I believe almost perfectly. Now in regards to your question about the XP system, the XP is going to be there's going to be a global XP system and there's going to be one siloed to the specific projects so that there will
be an individual de-gem-down XP in levels, for example, they won't all be combing all together, but there also be a global system because that could potentially have uses down the line as well. And as of right now, there's three ways to earn XP. One will be through non-castleial staking mechanism.
the project itself will be able to set how much weighting that gets. So maybe you want 1xp per NFT stake, maybe you want 10, maybe you want to go heavy handed and you want to do 50. I don't know, it's going to be up to the project to decide.
the other two ways to urnxb will be through voting on proposals. You'll get a little bit more for voting on proposals that are actioned all the way because we do want to incentivize both voting and voting
incorrectly, but we don't want to penalize voting incorrectly because that may be your genuine opinion. And then the third and final way, and this will be the way to gain the most XP, will be through actioning proposals all the way yourself.
Sounds good. So with them XP. Let's say someone has my 10 times more XP than someone else. Well, they have a bigger saying the voting's what's the benefit of having to work to be.
There's a potential benefit in future iterations for the future iteration benefit. Potentially projects could reward people with certain XP thresholds, but that's not going to be what's released in the initial version.
It will give waiting to your vote. So as a community member, you're not voting whether that if the proposal is accepted or not, you're just expressing sentiment. The council is the one who actually gates the the actionability of that item.
Sounds good. Yeah, just add to some of your points for like what we have done differently. So we relaunch with the like enforce royalties from like magic Eden and all that goes into our multi-sig.
The second mint ended, we put everything into our multi-sug and did proposals and announced and disclosed, okay, this money is going here and here. So we've been extremely transparent on everything we have done. And for even done like
Council voting. So if we have an idea or anything like that deserves to be voted on, we always have a discussion and go through the closing cons and then we have our calls and then we do everything like that. So not one person has all
power and say. I was proof the owner of Dijandown had full power, but now that I have a console, it's a lot, I feel like it's a way better system where I wouldn't have seen things involved
If I didn't have opinions of other people in like a voting process, like I think it's overall better for the project where we have multiple people thinking over one specific problem because this is good to discuss and maybe from that discussion you find
like better solutions and ways to go about it. So right now I'm feeling like in our system and what we have been doing. So yeah, I'm just excited to see what the community can do now. So we've been kind of doing everything
on our own as a council and getting some advice from the community. But now with a line, we can actually hear what the community wants and see what words for what and just see unique ideas that we would have never thought of and then we can make that come to life.
And I think one of the added benefits of the line is that it kind of makes you think through like what are you proven, what are you denying and why. So it makes you think through that process too, which I think can kind of help explore your options.
Yeah, 100% I just want to jump here and just in here and say like I think this type of Dow governance tools are absolutely fantastic and essential for like any kind of Dow focused project especially considering like how you said prior some projects like they're a family
valuation towards them and it has that sentiment to where they feel like their vote is important I mean it even goes back from a web to perspective to have democracy is run and the effect it has on like a human consciousness So I think it's a fantastic and essential element. I'm really excited to see the future of the tool
Yeah, people become they become active members instead of just passive investors and I think that has extreme implications for projects. One more thing I really want to touch on really quickly is something that we met with Liberty Square a couple of days ago and it's something
that they brought up. This isn't just a Dow governance tool. It can be a project government tool because a Dow isn't really meant for every single project, but I believe that Align has a very broad application across the entire ecosystem.
So what's one of projects like on boards and uses a line? How is the custom ability looking like on a project standpoint? Let's say they can add and new features or change stress roads like how is that going to be for future projects?
Yeah, so as of right now, there's a customer's my ability when it comes to the front end. There's also you can change the staking waiting, I believe. Over time, we're going to add more and more features because a lot of features have been asked for by some of the projects we're onboarding. So I think it'll be
whether you can switch it on or off, devour a sock if you want to talk more about this. >> Yeah, I think there will be more customization as you go along, removing adding features. I know that there are some projects that want to, like custom features as Sorgas mentioning, but I think when it comes to collecting data on
on a very new product, the less variables the better the data is and how we can improve the product. So there's not going to be a ton of customization at the start, but of course as we start collecting that data and realizing what works better, what doesn't, that's when we'll start to add those customization options.
And overall, how do you guys going to go about to encouraging more Dallas to be using this? I think the current format for a lot of the Dallas, there's a lot of corruption, lack of transparency and all that. How can we, like as a community or individual?
visual or project like encourage others to also be more decentralized in a way instead of having like a dictatorship, a hierarchy of doing whatever the leader says and like not really asking any questions like
Yeah, I think in that sense, I'll just take this one slow. How do we get more people to use a platform? I think it's by people using the platform, by people seeing how valuable it is and the things that can be done with it. For instance, I've known, really been using something on this level. Obviously, there are other platforms that have similar
aspects to it, you know, allowing people to vote and things like that. But I think what a line does is that it creates a very social setting for it and it creates a little bit more of like a front end, like, you know, public operating, like fun aspect where people can really kind of getting engaged and see all these proposals, you know, vote on them. And it's like, it's like a little bit gamified, I think, in#
So it's taking some things that are a little bit kind of well known in the space or something that people kind of like enjoy to engage in and making it fun to actually be part of this decision making. And I think as we see people use this platform and as we see the results come through communities coming together.
community members coming together and actually providing for the project or doing things I think could help the project. I think people become a lot more comfortable with actually putting forth their skills in a setting like this because they can actually also get money from doing them and actually bringing value into the project, supposed to everyone sitting there just waiting for whatever as you
you say the founder to say, or tell the team to do whatever, now is actually the incentive for everyone to be involved in a kind of collaborative effort to push and expand these communities. And I think in the end of the day, like, that's that's the biggest thing in Web Street, because I mean, we, it is a very strange business model that we have going here, you know, he meant a project to get a ton of money.
And then you have to bolt something out. And I think also at the same time, like, you know, a lot of people aren't like as as the market goes down, you know, there are projects that aren't making as much money as before. So you have less runways and things like that. So I think if you can now actually increase your team to the actual community. So now just the team that you have on board, you know, on the#
probably going to be a little bit kind of like, you know, why aren't you using it? But it also depends on the type of project as well. I don't think every project, you know, is set or needs to use the line, but I think majority of projects definitely align, especially when it's very community orientated. It's just it's a no brainer in that sense, you know?
Yeah, I have a question. So is the platform mobile friendly or are you thinking of doing maybe a nap in the future? Like, what different ways are you going to provide this like platform? Like so that people can like use it or not be encouraged to use it?
Instead of going out of that way. I think there's always room for integration into certain products like backpack and things like that where they kind of dap set they have within their wallets and things like that. These are all different things that we can look into and get done in and rule over time. I think initially we will just have a link to the site that people
people go to and they create their content and things like that. It's early days, but as time goes on, finding ways to create a much more kind of accessible platform for people from all areas, you can just let you go on your phone and you can literally go vote on there or whatnot or things like that. So definitely, I mean, in the future, we'll definitely have integration for things like that.
at right now, it will just be a little bit, you have to maybe go a little bit out of your way by clicking and clicking and going through the specific page. But again, like I said, there are projects in the space that are making this very easy, like backpack, for instance, that are allowing for these app integration. So I don't see that being super far off. I don't have anyone else on the team has any points on this that they#
I mean, I think it just makes sense to have a few iteration cycles on like the core features and assumptions of the product before we kind of blow up in scale in that manner. So that just makes sense to me.
Cool. Let's see. Mark, is she having any questions or maybe anyone else you want to come up or ping me in general chat and I can answer the question. Ask the questions for you if you have any. No, nothing really from my behalf.
So I'm gonna look getting really excited to get hands on and see a lot of the tool front end because like the one thing is I love hearing with the talk and everything with this side but being able to see the implementation everything once we have it. I think you guys said earlier like it's in the coming week or so that we should be ETA looking at implementation
for the line tool? Or is my hearing completely off? Because that could completely be the case now. No, I think you're looking at end of the week. So somewhere around the 24th, I'd say around that date. So if not that date, exactly.
So that's the date that we're looking to go live, you know, things happen, but I just assume that's exactly the date that we can push this out for you guys. Yeah, definitely super looking forward to it. It's going to be a really exciting time to really shift the whole Dow integrations within.
Yeah, for GigiDow specifically, I think we want to be like a bigger advocate for like these type of tools and I think we want to be like more of a leader. So I think you really want to push like the decentralized aspect of this and encourage other dows.
and communities to use something similar or this exact product so that we can be over-improved in the space where we're not dependent on specific groups of people and just remove a lot of corruption and dark side of things.
because I've seen a lot of like bad stuff, like backgrounds of projects and like these are all these vlogs and all this. It can just easily be prevented if we can all work together and they question these founders and use applications where
even if they are not what they seem. You can take measures to remove them and the funds will be safe and all of that because I think a big thing that's discouraging a lot of new people into the spaces, all these bugs and not having
say the projects, the lack of transparency. So it's something that we have to do one way or another just so that we can grow as a space overall. Because if we cannot fix these problems, like how can we expect millions of people to be unbordered into this ecosystem?
Yeah, I can't be do gritty man. I think that's a thing. Game changing tools like this are gonna help help in that. I think there's now when people actually join the space, there's less chances of them getting rigged and things like that and then leaving because you know, like if you come to the space, there's so many, so many tools now within the ecosystem that can
how people learn very quickly as to what are the pitfalls of certain aspects of Web 3 and how to avoid them or problems and also how to actually also enjoy Web 3 better or trade better or whatever. There's just so many different groups. There's so much information material out there.
So I think it's taking the space to a place that's really going to be quite appealing to people newly entering individuals into the space, create a fun environment where people aren't actually just getting manipulated here. They can come in and actually join a
community, let's say, be a part of it, enjoy it, learn from other people in the community. I think tools like this also created a little bit of a fun aspect because now it's like, I actually get a say in what's what happens in the project or some of the funding, you know, I think that would definitely be appealing to me as someone who joins being like, oh, well, I actually have a saying
and what's happening here. So yeah, I definitely agree with you. I think these are these are game changing, you know, tools that are really going to take the ecosystem far. So we're very excited about it and we really look forward to getting this out there and yeah, just seeing communities, you know, work with this product and how it kind of benefits them.
It also creates a new class of people in Web 3 because as of right now, I think it's quite obvious that 99% of people here are just simply investors. And that's fine during the
the bull market because everyone's happy and everyone's active but when you can't really flip mince anymore, so many people leave. I think we're at about a fourth of the people who are here during the peak. So that's really hurt the activity of the space.
But what align does is it creates a new class of people. It creates contributors, not just investors. So it gives people other roles that they can occupy other than just aping their money into things passively. And I think that can be potentially huge.
Yeah, a big thing for the space and what drives value to the projects is not what the team does or provides. It's usually like the community and how they can, how well they can work together. So the better the community can work together and accomplish things, the better projects.
can do. I think right now in the space, everyone thinks, "Oh, the founders are devs, they have to do something, they have to do this and that." It kind of wants everything smooth, but if you look at the top projects, a lot of the things that came out
We're probably like ideas from community members or proposals or even done by the community So I think we need to move a focus away from more from like relying on like certain groups of people and kind of just working together to
to accomplish goals. Because yeah, especially in like a Dow, like a Dow is all about like community and activity and it's depending on how good it is, how much people provide into it. If everyone's just taking and taking
not going to be anything left to take from. So you always need to be providing value and then you can get that value back doing that. So it can be financially or it can be through connections or whatever things that you want to do in Web3.
But yeah, I think we settled good amount about a line or answered a lot of questions. So if anyone doesn't have any lingering
questions or one of this come up and ask anything to be about a line digit out. Anything at all? Then we can start like wrapping the cell phone. Yeah.
Yeah, thanks so much for having us, man. We really appreciate it and we really are looking forward to getting you as community onboarded and seeing the DJNs make some proposals, man, and same to you guys and see the community grow. So that's going to be super exciting.
Yeah, for sure. So yeah, I also want to thank everyone again for coming up and talking and taking your time out of the day to speak and explaining everything the details you have done.
So I'm really excited to see what this tool can do and how the community can come together and use it and see what we can do to help grow it.
Also, thank you for all the Dejandal members that came up. Listen, I know the market is not the best right now, but you can't really do anything about it. We're always going to be here, like teams like Align, teams like Dejandal and members are always going to be here.
building stuff and figuring out how this space can improve and then once the market comes back it can be a lot more enjoyable. So right now it's not the best where you're losing a lot of money and this is not a very enjoyable space to be in but
maybe with a line, you can start making proposals and having other ways of making money, performing your ideas and whatever. Just being more involved into the space and learning rather than just trying to flip like a random
project because long-term it's not good. You need a, the real people on the web tree, like if you really want to make money, the people that contribute to people on the projects, you need to be doing a lot in order to get a lot, you know, you can't just
Only flip NFTs and do whatever like that. If that's what you want to do, that's good, but when times go bad, it's hard to stay in this space if you don't do other things and have certain communities that you're hanging out with.
Thank you so much, man. Anything from Zadud, what's up? Nothing now. I'm just going to say the same thing that we're really excited to have you guys test it out. I think that I can think of a better, you know, initial project to
start with a line and push it forward into the place where it belongs in front of everyone. So really, really happy and really excited to get this going later this week. That's all I really have. Anything else? Socks, Lord?
I think we're good man. I think it's been an absolute vibe. We're stoked to be working with you guys. And yeah, let's get this shit popping. Happy Sunday everyone. Yeah, I want to enjoy a week and then hopefully another week we can see.
the platform and then play around with it.
you want to do, but we are really looking forward to this and really really excited. Also the space is recorded, so if anyone joined to late or they want to hear something you can always go back and play the recordings.
Let's go baby. Thanks for having us. Thanks guys. All right. Say hello later. Bye. Okay guys. Bye. Peace.