Thank you.γθ¦θ΄γγγγ¨γγγγγΎγγ . Thank you. . so Thank you. I . Thank you. . Thank you. so oh
Super excited to be here with the team.
We have some massive announcements that we're going to drop today.
So let me kind of set the room a little bit.
I lead business development and partnerships here at Wire.
And I spend most of my time talking to projects, chains,
DeFi, decentralized AI, and everything in between.
And here at Wire, we've been just heads down building
and at the same time pulling the right people into the mix.
People who get the space and who understand the critical zone where infrastructure, finance, and innovation intersect.
And so I'm really excited about today and what we have to bring.
to bring so I appreciate you all being here um so we brought on a very powerful force across
So I appreciate you all being here.
crypto and investing in general we're just thrilled to introduce this pioneer in the world of finance
and crypto Jamie Rogozinski as a founder of Wall Street bets Jamie's absolutely transformed how we engage with digital markets and finance.
And now he's our newly appointed chief strategy officer here at Wire Network. Jamie's going to
spearhead awesome things that bridge crypto, the gap between crypto and traditional markets,
and just also rewire how we do crypto in general.
So we're going to jump into Jamie's vision and for future finance and journey with Reddit and Wall Street bets and how wire plans to innovate under this strategic guidance.
So without further ado, Jamie, please just give us a quick breakdown of your experience and how that led you uh to ken and to the wire
team my guy welcome um i'll let you either choose a quick breakdown
or or all that information you asked for um it's a lot man yeah man and for anybody that knows me
like i can just talk and i can ramble forever uh yeah no i
guess i can work backwards from your question then you can ask me to fill in the parts that's missing
so uh jamie so i jamie rogizinski and the founder of wall street bets the subreddit the brand the
idea authored the book blah blah, blah, blah.
Just never, you know, it's not like this omnipresent idea.
It's interesting because I'll meet people and I'm like, so what is, you know, the unified organization of Wall Street Bets LLC with a hierarchy structure
doing, right? Like, you know, they don't use all those words,
but they are implied in these.
So what is Wall Street Bets doing these days?
And it's like, it's not just more of like a way of life really, although there's communities everywhere. But yes,
that's what I am best known for. I tend to be a disruptor and I just try to do things
for the betterment of everything. Like even Wall Street Bets, what may have started as,
you know, ways to learn about the market and take high risk and get rich quick you know attempts and fail like
miserably fail at and try like uh doing that but that that led to a wonderful
learning curve and send me down this great path while simultaneously trying to like, you know, I've shared this in some interviews before
that I lost my job in the 2008 financial crisis.
And eventually when I got back on my feet
and got a good job at a traditional finance bank,
like this multilateral bank in DC,
I'd walk past these satellite Occupy Wall Street movement
things that they'd set up.
And I just remember every day feeling like
you know they're they're bitching about the 99 and the one percent i can just imagine the one
percent like peering through their penthouse window like like these guys gonna get cold and
go home yet and like and so it just occurred to me that the best way to actually incite change
having you know being the son of a politician understanding how the game works, you don't get 99% of the people to complain about something with a picket.
You get the 1% to complain, and that's how you elicit change. unsophisticated, crude, brutally honest community, right?
Like turned out to be an extremely sophisticated community
that like completely surprised me in academics
when it comes to like the idea of collective intelligence.
You know, you have this, I don't know,
just really, really great things that happen out of that.
But it's always been under the guise.
Like what I've done is, yes, try to have fun.
But yes, try to leave things better.
Like clearly there were things specifically with the with Wall Street and the way that it was being used and good fixing.
And, you know, to lots of exchanges, sorry, to a lot of effects, we've actually were able to succeed.
And now, you know, and yeah yeah now i've been pivoted i've been actually pivoting i've been completely evangelized to crypto you
know i've been uh my first foray into it i kind of i kind of hate this hi my name is jamie i've
been in crypto since 2013 like Because I'm actually an alcoholic.
So when I go to AA, it's like I'm an alcoholic.
I've been sober for three days.
But no, I came in like four or five years ago.
And it was immediately apparent once I got past the whole coins thing, right?
Like coins with numbers that go up.
Because apparently number go up is the only thing.
The only mentality in crypto uh i was
able to look past all the noise and pop the hood on i was like holy cow this this existing not
potential but this existing d5 mechanisms are are leaps like you know there's so much further ahead
than wall street this is this is actually the way to further help it, to try and create
pressure to make them converge, which required regulatory component and it required the usability
component, which went hand in hand with a third concept, which is a technological component,
in order for it to work better, right? And we'll define what that means later
and for more people to be able to use it easier,
there's been a lot of progress made there.
But some of the things are not possible
due to tech constraints that exist, right?
But like, you know, four years ago,
You asked for my stance now. It is painfully evident that there is no convergence.
There is no concessions being made from from crypto to try and like cozy up with Wall Street.
It is now crypto that is going to set the standard and is painfully obvious to me at this point.
And then in Wall Street, it's the one that Wall Street Wall Street's the one that, well, Wall Street
traditional planets is the one that has to adapt. And day after day, I keep seeing more and more
evidence of that. You know, you see 24-7 efforts, which to me should have always been a thing.
That's nothing to do with decentralization. It just has to do with common sense.
From a systemic risk standpoint, not because I'm trying to gamble at three in the morning. You know,
you have instant settlements, which once again, systemic risk,
I want more people that's a technicals behind that.
But the fact that you basically right now,
if you trade a stock with your broker,
like you're literally giving an IOU note to your counterparty and they're
giving you an IOU note and it takes three days for those IOU notes to turn into you know the thing that they represent uh that that causes so many problems
that almost broke the entire stock market during GameStop but anyways like but above and beyond
just the bad stuff that that exists in Wall Street like the innovation that creates that
exists in um DeFi when it comes to just different market structures.
And I'll stop by saying like,
well, I'll stop this little thing
and I'll just start my ending of my intro
by saying like the thing that got my attention.
And I apologize if I get technical.
You can Google these things later if you want.
you have these things called leveraged ETFs.
You can get like a 3X leveraged, you know, S&P ETF.
ETFs at one point were considered these exchange traded funds, which are basically just baskets, right?
Like you like put together a bunch of stocks and you bundle them up under a custom ticker symbol.
So now ETFs are like, now they've redefined what they are. They now
allowed ETFs to be single asset ETFs, meaning like your bundle of basket is only for one.
But the reason why they do that is because you can leverage them. So you can get 2X or 3X,
or you can do a bull version or bear version, which basically shorts it for you.
or bear version, which basically shorts it for you.
And those things, for anyone in the finance world,
knows that you get 3x leverage on whatever it's pointing to for day one.
And after day one, it starts kind of breaking.
And in many market conditions, you end up losing money.
You can actually short and buy.
Sorry, you can short both bear and bull
leveraged ETFs on Wall Street and like under a lot of circumstances you can make money because
they both kind of decay anyways it's technical as to why that happened and when I popped the
hood on DeFi like like I saw that Binance have these things called variable leveraged ETF
that without going into the math basically fixes the problem you can
out buy and hold a leveraged position you know relatively conservative two or three x on a thing
and you can sit on it forever without it going to zero right uh which which is awesome and to me it's
funny as to see that like they're doing like an xrp leverage dtf on wall street right like
and i tweeted about it or i scheduled a tweet to go out later which is like akin to taking your 4k
resolution video like movie collection and trying to like back it up to vhs tapes it's like dude
what are you doing um but anyway so like yeah so i'm all about fixing i do like traditional finance
because i do like what it does i'm an an economist. I do believe that, you know, the fractional banking reserves and things that sometimes people get put off by, like, call things a Ponzi scheme.
Everything's a Ponzi scheme. The only bad ones are like the Bernie Madoff ones.
Everything else is actually is a net good thing, right?
Like valuation for stuff, whether it be gold or tulips or fart coins or bitcoins, like they all subjective, you know, they have subjective valuations with a few,
a few additional properties, but like I do like it. And at this point, crypto is so painfully
superior in so many different ways. And the only thing that has been missing from crypto is basically what wire does right and
and in the five years since I started using since I first downloaded MetaMask and back then I had
to like click on settings custom RPC Binance smart chain because apparently Binance was not
the same thing as Binance smart chain because that chain is apparently better than the original one
but whatever and I had to type in numbers and urls and i was like okay cool now now what like now you gotta
fund it i'm like oh what the right now okay i want to buy the solana coin now what like dude you need
like a different program for it and i'm like god damn it all right how do i send my binance tokens
to solana wallet like you can't like oh damn it like what the how are you supposed to do anything on here right uh and and so so from
that day one it was evident to me that that had to be solved and I also made the assumption that
very very smart people obviously know that because they've been at it for a lot longer than I have
and I just sat back and said okay I'm just gonna wait for somebody to finally crack this thing
at which point I didn't I at which point I I I conceded and thought okay
as I learned more of the technical side of things I like dude it's impossible it's just
it's not possible because now I understand more about you know like the well with the technology
behind it until I bumped into wire and and wire was able to prove without a reasonable doubt
that they can natively seamlessly like one shot permissionless, whatever.
I'm not going to show off the tech because I'm not the one to do that, but they can basically just make the blockchain, the blockchain,
or I can use my Bitcoin to put like the Satoshi version, right.
To buy like Trump coin and like one shot, right.
With, without having to hide behind an interface,
multiple bridges and steps and atomic swap things and whatever,
like centralized choke points or vulnerabilities, really.
And I was like, dude, this is what crypto needs in order for it to actually create mass adoption.
It can now make the UI experience a lot easier.
You can actually hide the crypto components behind like underneath uh innovations which which survive on top of crypto without everyone even knowing that
they're using it uh it allows uh the the liquidity to to basically just be shared across all chains
to avoid like cz getting another dog and fucking over every sorry if there's any under 18 year old kids here uh you
know like prevent prevent like liquidity from just running from one coin or one chain to the other
one and preventing from one chain to be like the one of the season and if you want to do something
like you innovate on this chain and next season maybe you'll have to migrate and maybe not like
all that stuff is just bs like it just doesn't it's not it's not it's uh it needs to be fixed and wire fixed it so i am super happy to be
uh with wire as a chief strategy officer uh jamie we're so stoked to have you i'm not gonna stop
unless you cut me off yeah yeah brother we're so stoked to have you on board and we appreciate you
digging into what you've already dug into.
I think it's a perfect moment to segue over to Ken.
Ken's been in the space since 2013.
And since, Jamie, since you just stopped it at what WIRE does, I want to introduce Ken and just have Ken break down in kind of quick, high level what Wire does.
But just a little bit of intro on Ken for people who don't know.
Ken's been in the space since 2013 before most people even knew what a seed phrase was.
He's a co-founder and he's one of the guys that's behind the first universal transaction layer
that Jamie was talking about for blockchain.
Before all this, Ken was a trader, which was the impetus to him, realizing the need for
the universal transaction layer because he could see the cracks in the centralized systems
And he's just out to build something exponentially better and bigger.
And the two of you, it's like the wire,
sort of the thing that's a common thread across every single person in wire
is that we want to build a legacy that outlives us.
And this is literally what that is.
This is literally what we're doing and what Jamie is about and what Ken
is about and everyone on our team. So Ken, without further ado, I want to just introduce
you and I'd like you to, at a high level, introduce Wire and speak to what Jamie was
speaking on in regards to the universal transaction layer and what we are building in the partnership with
with with jamie yeah for sure uh thanks for the intro um you know to touch on what jamie was
talking about it's like let's take it into the real world imagine that that you have that you
go to costco and when you go to checkout, someone says, well, we only take Discover card here. It's like, well, I have Amex, I have Visa, I have MasterCard. No, no, we only take Discover here.
And then you have to go through that entire process. And then you go home and you jump
on Amazon and it's like, ah, we only take MasterCard here. It's like, okay, well, I have a
Visa. What do I do? Well, you have to do X, Y, and Z. You have to do seven steps to be able to convert your Discover card over into your MasterCard.
And then it's just like...
I mean, it's just insanity.
It's not just that I was a trader.
I understand the mechanisms behind the traditional financial system like i understand how the how the stock market functions
like what's the architecture that allows that to to work seamlessly around the world and i kept
hearing you know you know blockchain's the future of finance i was participating in blockchain at a
early stage and i'm like this ain't it, we're not even close from an architecture standpoint, from an infrastructure standpoint
of being able to compete with the traditional markets. Like, not even close. We can say it all
we want, but it's either you have it or you don't. And so that's, you know, just hearing Jamie talk,
that's him and I go for hours talking about the traditional financial system and where blockchain is going.
I overheard you guys talking about an experiment that Jamie ran where he started with $1,000 and then just moved the funds.
Tell us a little bit about that.
Actually, it'll be better if Jamie tells it.
So I'll just kind of jump in with, you know, what wire is and why, you know, why, you know,
we went after and wanted Jamie to join the team.
And that is like blockchains, a blend.
It's about developing technology and it's about building community.
You can't just have the technology.
...and showcase it and get people behind it and get it and get everyone using it
and showing how it's a better product.
And, you know, DeFi is obviously like a huge use case in blockchain.
So, you know, sitting back, it's like, you know, if WIRE's goal was to hire someone who understands and has influenced the actual traditional markets, financial markets, and also has built like a 20 million user community like who else has done that right it's like blockchain you know was always promised you know promising to be the next
financial system the future of finance as everyone says and it's like you know wire is helping deliver that promise.
Like we needed a quantum leap and infrastructure that unites all these chains
that, that handles identity that has a, you know, a transaction layer,
so that we can clearly show that our financial system is better than,
than the one that we're trying to pull away from.
And now we can finally do that.
And, you know, so once you get the infrastructure, the technology in place, you need the community.
And, you know, from my perspective, like who is better to bring everyone in from TradFi into DeFi than Jamie?
It's like, you know, it's like Michael Saylor talking about Bitcoin.
It's like, there is no second best.
Jamie's the one that you bring in
that is able to build community,
understand financial systems
and push everybody in the right direction.
So it was just the obvious choice.
And I'm so happy that he and I have,
became friends and that he aligns with the vision of of wire and and wire allow aligns with the
vision of him and and wall street bets so you know that being said doug what you asked about
uh you know how to turn a,000 into 800 real quick.
That was Jamie and I sitting at dinner
when he first came down to Florida
and met with the team and we took him out.
And we're talking about just how terrible the experience is
from jumping chain to chain,
just trying to get your money,
like not even doing anything,
just literally trying to get your money, like not even doing anything, just literally
trying to get your money in the right position to do something for yourself.
And Jamie, if you want to take it from here, it's way funnier the way that you talk about it.
I'll rewind it because the telephone game, Lost in Translation, translation i'm like you're going to a yacht
party in miami i'm like sweet i got a place to stay there let's do it right bought my ticket
went to miami woke up on you know saturday morning i think it might have been when we're
gonna meet and everyone's like what are you doing today i was like dude i'm gonna relax maybe i'll
go to the mall maybe i'll just read like i'm just silence like this is good
like dude you should find out where it is i'm like dude it's probably in miami that's where
the boats are and so then sure enough i like check and i'm like yeah it's in uh like the
other side of the state like sarasota tampa like four hour drive um but anyway so yeah uh but then
it was very very much worth it it ended up staying as long as
I possibly could with with uh with Ken with the team I got to see the headquarters and we were
able to go on the boat we were able to do all sorts of things but while we were at dinner after
all that I don't remember what the motivation was to do this but it was like let me live through
if I wanted to to do this what what is it like and so me live through if I wanted to do this,
what is it like? And so I just literally, I forget exactly.
Like it actually had a purpose. It wasn't just,
I'm going to do it to simulate doing it. It's like,
I'm going to simulate as if I have a purpose.
Like I want to actually take my money and buy something else with it.
And I started with, I don't know, like avalanche. And then I had to like,
send it to a, you know, like swap it to a thing,
send it to a centralized exchange because I didn't know about these other tools
that basically do the same, probably more expensive.
So centralized exchange, swap it again, blah, blah, blah,
send it back to the wallet, like with different address.
And the thousand dollars and 15 minutes later and,
and all the risk that i exposed myself right like
all the possible like fat fingers or you know centralized exchange stuff like all these things
that aren't even mentioned then i'm left with 800 basically just because i moved my thousand dollars
to a different type of thousand dollars on something that's you know supposed to
be efficient and uh it was very very clear that i mean like i knew that was going to happen i just
wanted to see what it feels like to do it right uh because i've done it multiple times when i'm
trying to chase an nft or i'm trying to chase some new like meme coin this this season like
trying to get solana has been a thing right so every time like
i gotta get this meme coin like funding my solana wall it's like a 10 minute thing and i've missed
the boat and like the ability that to be able to just seamlessly do that that losing money is
definitely hurts but i i think that like for me and you know it hurts I heard so I'm not going to minimize that.
But I think that there's a mentality when it's like Internet funny money that there's like a margin of error or a plus or minus.
Like my wife's like, how much exactly do you have in crypto?
And I'm like, I, yeah, I can tell you what it says.
But by the time it's in my bank, it'll be something else.
Right. Like so there's this, you know, people are used to that, that fuzzy factor.
But what's what's really clunky and crazy.
It's got to know what you're doing.
You need to know the fact, you need to know all these concepts ahead of time, right?
You need to know what the solutions are without having to Google them, which exposes even more risk because I can only imagine the type of Google results when you can search for these things.
you can search for these things and you know and it's just I I went back to the to my experience
with like you know when reddit and I was learning uh about stock options and stock options are very
complicated very very complicated you know the guys that black sholes got like a Nobel Prize
for running some math formula that figures out prices and you know and and rightfully so and i love stock options and so when people
were like hey what do you do with stock options i'm like dude like they're complicated but look
basically they're just leveraged so if you just buy a call around like this you'll be able to
either risk more and get more um but even still if you pull up a broker prior to robin hood you
get this giant like Excel file matrix
with tons of just statistics and Greeks and you don't know what the hell you're doing.
Robinhood comes around, they're like, you want to trade stock options?
What do you think is going to go up or down? I think it's going to go down. All right, cool. So puts it is now what price do you think? How much do you think it's going to go down by? Right. And approximately when do you think it'll be by that? Right. Right. Like, and then like done. Right. It's now been able to pick a strike price and expiration date like that, like they simplified it. And I could criticize the fact that they're jumping over all these complexities that still exist.
But at the same time, that allowed people to very easily understand stock options and use them.
And then that led to tremendous adoption of them.
And then that led to tremendous potential for further innovation and some of the stunts that took place.
potential for further innovation and some of the stunts that take place you need to be able to swipe
right left and swipe right in order to get people to actually innovate use creatively come up with
stuff and so yeah i lost a lot of money lost a lot of time and i risked a lot in the in the process
yeah so like what we're talking about really here is how to like in the space every event every every spaces I'm in
there's always the conversation that's like you know bringing web3 bringing crypto to the masses
and with what you just described Jamie the process that led you ultimately wire is offering is and so okay so like kind of kind of
resetting ken and jamie how do you guys look at the the partnership with with jamie and the wall
street's bet the wall street bets um community and paradigm into the wire network? Like, what does it look like to harness the power of wire and bring crypto essentially
to the masses in this way?
Well, I want Jamie to answer from the Wall Street Bets perspective, but I want to, he
just mentioned something about, you know, how Robinhood was able to bring on the masses,
even in the traditional financial sector.
So the one thing that traditional Web2 has to its advantage is it can deploy code very quickly because they can centralize whatever they need to centralize to provide a great experience to the user.
to provide a great experience to the user.
it took Robinhood to throw that on steroids.
Like you had Fidelity, you had Schwab,
you had all these stock trading apps
that were around since the early 2000s.
Robinhood simplified it even more
and just was like, know swipe and and and these things
happen so that's the power of um a seamless experience we need to do that like we haven't
been able to achieve that so far in in web 3 in in defy in blockchain and that's where that's where wire is you know has a
is like the bright shining line light of this is we are you know that robin hood moment for for
blockchain we're making things super easy on par with what you should experience you know in in web 2 but with all the
benefits of web 3 like where you have your identity you know you can control your data you know there
is no middleman like you get to do all these things and you just it's on par or better than
what you're used to used to experiencing that what WIRE is bringing to the table.
And that's why this mass adoption moment
will be facilitated by us
and everyone who builds on top of WIRE.
if you have to simmer it down,
this is the moment where we can actually compete
and be superior and showcase that technological advancement across the board for this industry.
And very excited that we've, you know, this is five years in the making for us.
Like we've been building this for a long time.
We, you know, we didn't try and we tried to solve the problem, you know, comprehensively.
No, no centralization points, like no, no attack
vectors, like bridges or other things like, this is, you know, this is the protocol that will
actually allow people to come in and be safe, and do DeFi and not have to worry anymore.
So that's, that's, you know, wires component. And, you know, as far as Wall Street
bets, and Jamie, you know, Jamie coming in and supporting wire and being our chief strategy
officer, and, and leading that charge is one thing, but Jamie also has the Wall Street bets
community. And Jamie, I don't know if you want to touch on uh yeah it's kind of
like a symbiotic relationship like wall street bets is going to fuel wire wire is going to fuel
the next generation of wall street bets is there anything you want to touch on there
well yeah i think you're cutting yourself way too short so like i guess like well um yeah why are like
sure so like i guess like well um yeah why are like
so what what like wire is isn't a coin you buy or an app you download right like it's it's you
know i'm going to simplify it grossly it's a math formula that just makes things happen right that
that that just kind of sits underneath underneath, but it fixes the problems that
I outlined at the beginning, which is it's hard to use and some of it's been technologically
imposed. And I bring up this example. And as much as I like to not repeat examples,
I failed to come up with a more perfect one. And you take the meme coins for GME,
the GameStop meme coins that aren't tokenized or synthetics or anything.
They're literally a pump fund type thing that's supply and demand based.
If I tweet right now, go buy the GME meme coin, I'm going to have like 18 different communities that are mad at me because I didn't tell, didn't specify which one.
which ones and otherwise you have 18 different communities that are competing against each other
while celebrating this concept of together strong and what you can do if you actually
get power in numbers it's like they couldn't have picked a more perfect meme for me to
drive this point home and uh and i could surely call them all and talk to them and say hey why
out in the same telegram room but we still have a problem that there's a technological barrier
preventing them from doing that right they've already bought into one and the liquidity and
the thing and the wallet compatibility and like all these things that shouldn't happen right like
you know i think before i even talk about wall Bets, like GameStop meme coin needs to be able to just be one, right?
So that they can at least chant the right meme
in the correct type of spirit.
That's not doable because of these technologically imposed barriers.
There used to be geographical borders.
Now it's like technological barriers
that are forcing this hyper-fragmented,
tribal, lots of little communities type situation.
And that's preventing any form of large-scale cooperation
and unifying the strength in numbers approach of being able to
actually harness that because it's like all right cool let's do a strength and numbers thing which
chain do we do right like no i just want to use the the blockchain and uh and so now i'll pivot
towards wall street bets like wall street bets in its own way has suffered some of its own version of fragmentation because of lots of different reasons.
There's like a book that was written towards all those different reasons.
It's actually worthy of its own movie.
There's a million spinoffs. There's a few like quasi dedicated street bets things, whether they be like geographical, like Korea street bets or India street bets, or whether they be asset based, right?
Like Silver Street bets or Satoshi Street bets.
And that's just on the subreddit.
You then have Discord and Telegram and Twitters and all these different social media platforms that keep kind of popping up. And it's difficult for there to be a centralized way to hang out, to communicate.
And everyone likes their platform and I get it.
And I don't expect anybody to be able to change that.
But if I want to make Wall Street better and finance better and the world better, then I want to use Wall Street Bets and its full power and brand and ethos and mindset to be able to actually unify that.
And in order for me to be able to do that, I need to bring in non-crypto people into the crypto world.
And I need to bring crypto people into like stay in the crypto world, but the same freaking telegram group or whatever it might be.
And I've been unable to do that up until now.
And so I've like, you know, I joined wire without joining.
I just started showing up wherever they were going because I needed that.
I'm literally like, wait, Ken, you go to Denver?
All right, book my flight.
Six hours later, I'm in Denver.
And it was just me not asking, right?
Which in a way it's funny because that's how wire works
Like it's not gonna ask permission to other chains,
whether it's gonna be compatible.
It's just, you know but anyway so
i needed that in order for me to achieve my ambitious goals because i'm not about to go
out and sell a math formula on tv it's just not it's off-brand it's not something i fully even
understand uh but it but i do understand it's absolute pivotal importance as an underlying foundation, which in so many abstract ways is necessary to get away
with these things. And so, yes, so then the strategy officer with the Wall Street Bets
component, and that's where I said that you sold yourself short, Ken, there won't just be Wall
Street Bets, right? Like the Wall Street Bets, I have a very, very ambitious plan that I can't
other than what i already have which is this large-scale unification um and and it's extremely
ambitious it's going to be very disruptive it's going to be very loud it's going to necessitate
this chain agnostic concept uh whereby we can have a community that is decentralized, or at least it's, it's, it's, it resides on a decentralized medium, which then, you know, prevents it or insulates it from the big business gravitational force where they all kind of tend to go towards evil no matter what you know the
more they grow that the more that they they i'm not even blaming them it just happens right like
google had to change their slogan um so to be able to put this thing on a d on a decentralized
framework so that so they can uh uh continue to grow on forever it can be all inclusive around
the world it can then show hey dude like you no longer need to think about which thing which one you want to you want to have an
nft and a wsb coin and whatever marketplace you can do all these and buy ai compute like
all on different chains like you can just do this all in one one same place i couldn't do what i
wanted to do if i had to stick to like Avalanche or whatever, right?
My first attempt of doing this, I did it with Binance because I didn't even know that Binance wasn't legal in the US.
So you can only imagine how that went out, given all my audiences in the US.
And so it's a showcase. It's going to be an example.
It's going to bring a lot of communities, bring a lot of noise uh but you're not going to see a ton of wire stuff right because because anything that i decide to do you
can't mint stuff i can't mint a coin on wire right it's like a math formula so if i do the coin part
it'll be on one chain and if i do an nft and it'll be on whatever chain is the most you know relevant
one and and math and sorry wire is going to be this thing
that allows it to happen.
And in doing so, I'm hoping to inspire others
to look at this and be like, holy cow,
and now I can just rely on my idea
that's the decentralized idea to work
without exposing myself to the risk
of picking a chain first.
And therefore, if you have competing people that want to do a good idea,
they will succeed based on merit,
not based off of if they got lucky on which chain they launched.
And that's the way that it should be.
And because once again, this is just opening potential
and it's opening so many doors for things to be able to happen.
And I'll stop by saying it'll also address the liquidity issue.
That's also a huge turnoff.
At this point, everyone thinks crypto is a coin and a coin has a number.
And if coin is, if number go down and cryptos are a catastrophic failure, if number go up, crypto is the best thing since like whatever.
But crypto is not that in fact it was that thinking that got me that made me stay away from crypto for so long
and it was realizing that there's more than coins to crypto that that's actually very very
like cool and so now we're going to force traditional finance banks uh wall street into adapting into
being better you know right now if you open up a textbook and you read what is the stock market
well it'll say the stock market is a capital market where entrepreneurs can go to grow their
business such that if you want to like raise money you can sell shares and then no none of that like there's no not no like not a single part of that is true
it might have been a hundred years ago right but there's a void that needs to be filled
uh crypto can do it better just the fact that you're having um uh so many components crypto's
already we're doing things behind the scenes when you do international wire transfers, unless you do Western Union, I guess. Maybe they do it too. I don't know.
really that um so the wall street bets component is going to be a very good way to kickstart
and showcase and show off a lot of these things in a very high profile manner
but my hope isn't just to say okay wire and wall street bets are the thing now
right like it's not i've launched my token on wire network
no it's more dude look at what wall street bets did they managed to build
a thing on the blockchain without specifying which one right and uh and accomplished pretty
cool stuff imagine what we could do that deals with something else right attacking social media
issues attacking uh global cooperation trusts uh collaboration um things that we already familiar with and things that we don't yet
know exist if some 12 year old walks into crypto in a world in which wire has now been able to
normalize all of that decentralization is a is a is a unified ecosystem he doesn't have these
preconceived or she doesn't have the preconceived notions of, okay, these are the limitations.
So this is all that I can get away with.
They'll start fresh with, oh, this is decentralized.
And then they won't, they're not, they're not inhibited by these biases or these, these mental constraints we're, we're, we're accustomed to.
Amazing. We're starting to get to the top of the hour. And before too much time passes, I want to pivot a little bit. And Ken, I want to just quickly go over some of the other updates that we have in the pipeline for Wire Network.
pipeline or wire network?
Well, the main one is that this is real.
This isn't a white paper.
And so we are launching this, what we're calling the UTL, the universal transaction layer.
UTL, the universal transaction layer. We start a 90-day launch right in the beginning of June,
which allows everybody, everyone here, all the way up to the foundations of these other blockchains
to participate in WIRES launch. So a lot of news and a lot of information will be coming out of that.
But at the end of the 90-day launch is the birth of our token
and the birth of the network going live.
And so the universal transaction layer will be live in September.
And everybody, it's reverse compatible. So it's like, if you want to build and use wire smart contracts and build on wire,
you can, if you're already out there, if you're, if you're Uniswap, if you're MetaMask,
if you're a DeFi platform, you can just enable your DApp to have universal functionality.
So if you're a DApp or an exchange, like whatever it is, and let's say you can only interact
with EVMs right now, yet you understand that there are millions of users in billions in liquidity over in Solana, over in Polkadot,
over in Hedera, over in Cardano, over in EOS, which by the way, are all different types of
chains, which in lies the problem as to how to unify. And that's where everyone's fallen short.
We have figured out how to unify all of these different types of chains.
That's what a universal transaction layer is.
So all liquidity across every chain, across every NFT is accessible through wire in essentially one step.
Yeah. that yeah if you are a user uh if you're an ethereum user if you have an ethereum address
you now have every other type of that like your address is universal so your identity is universal
your wallet will be universal if you like metamask this is i i did this i said this at uh at eath
denver during my keynote i was like if you like you like the UI of MetaMask, and everyone
started laughing because everyone hates it. But the point was, if you like MetaMask, you can enable
MetaMask to be your universal wallet and have access to every other currency that's on every other type of chain. Like that's the stuff that wire is enabling.
that's going to be part of what the universal transaction layer is coming here
this fall. So we're going to change the industry.
Like this is a very disruptive event that everyone's going to have to,
that everyone's going to have to, you know, wrap their head around, which again, if we're
you know, wrap their head around, which again,
if we're doing disruption,
doing disruption, who better than Jamie to, to identify and strategize around that disruption.
So like one, so like one chain, two chains, three chains, like how many chains are accessible
through the wire, through wire network? The ones that don't even exist yet.
Yeah. Correct. Okay. Yeah. Everything that's out there, plus any ones that don't even exist yet. Yeah, correct. Yep.
Everything that's out there, plus any ones that can come online,
we are going to be able to add in to the universal transaction layer.
So again, we'll have a lot of information about that 90-day launch
and how everyone can participate.
Very unique ways to participate, by the way.
It's going to be wild to see.
Because once you solve interoperability properly, you can do some crazy things that you can't normally do in this space. So look out for that. If whoever's on here and listening later on,
if you use an application and you want that to be universal,
like reach out to them and tell them, hey, have a conversation with wire. So you can learn how to,
how to enable, you know, yourself to to have this universal functionality that'll benefit,
you know, the users and themselves. So we're about to do a very large scale marketing campaign
just to let the entire industry aware,
make them aware of what we've built
And yeah, it's going to be a wild second half of this year
for the blockchain industry.
Amazing, you guys. I want to close with Ken, I'd like you to describe how you see the future
once WIRE is live and integrated across the space.
How do you see that in the next six, 12 months after launch?
Yeah, well, Jamie and I talk about this all the time because again, we come from the traditional financial system.
And what Jamie said earlier is true.
Back in like 2017, 2018, everyone was in blockchain was like, well, how do we
get, you know, what do we have to do to align ourselves with the traditional system so that,
you know, we could get more users.
And then even recently, you know, with the Bitcoin ETF, it was like everybody in blockchain
was trying to align themselves like, oh, we're finally in the stock
market as an ETF. And then that'll bring more users because it's centralized and that system's
already established. What we've seen since then is that's the traditional system is coming over to us. We're not aligning with them. They are coming to assimilate with us. And so you're talking about
tokenizing the stock exchanges, tokenizing real world assets. Everything that you're seeing is
them saying, okay, this is the system that is going to be the future. We need to make ourselves compatible.
And so what that's going to be is when 24-7 trading of stocks happen, it's going to be
because of blockchain technology. When you have fractional, real estate and those type of products. That's all blockchain.
And so that's what we're going to see.
It's going to be just like the traditional system because the user experience is going to be,
you know, that seamless now.
But you're going to start seeing like, okay, like this is, you know, I remember the stock market,
you know, stopped trading at 4 p.m
eastern like how is it how is it now going 24 7 like people are going to realize start seeing like
the difference that way they may not even realize that it's going to be on blockchain but that's how
that's what's going to happen so it's going to be you know we're not um we're not trying to create a new element over here like there's no new physics
it is just taking it's the next iteration of the financial system like we're just upgrading it
and and so that's what you'll see you'll just see you know the same thing like you know uh that you
normally do like you know whether it's a bank or exchanges or you know anything but um it'll just
be it'll just have blockchain technology like underlying it and i think that that's going to
be a very quick uh turn um in adoption now that the infrastructure is there yeah i just want to be clear because like the sound bite that you can take out of what
you just said can, can be basically juxtaposed against that same quote,
having been used a billion times by a billion people under a billion different
contexts. Yes. The blockchain can do things better than, than wall street.
But the fact is today that it can't. And the reason why it can't, it's like,
all right, we're going to tokenize a thing.
Oh, Solana is like down today.
Like, no, that doesn't work.
Like, you just need to have that stability both on the liquidity component, the compatibility.
You know, every chain has its own merits and pros and cons and whatever it might be.
Like, that needs to just be unified. That the decentralization needs to be like unified,
decentralized so that it can effectively
implement some of these things that everyone
Oh yes, in the future people will be able to,
in the future people, in the future.
Yeah, okay, you want to like tokenize an asset?
What chain did you pick, right? Because now you've limited yourself to certain things whether it be
a community or money or speed or you know like if if so what wire is doing is enabling that phrase
which which has been repeated to actually be able to take place. Three pillars were preventing crypto from becoming,
from being exploited to its full potential.
The legislative risk, right?
The regulatory component.
You have the usability, right?
Which means more people can come in.
And so that means swiping, right?
You can still have a complex side for people like it.
And number three, in order to make number two
work you need to technologically make it work in such a way that you don't compromise the integrity
and the purity of what it means for uh something to be a decentralized asset the blockchain the
you know the elliptic curve uh cryptography that it relies on without having to sacrifice. Okay. Okay. You can be a blockchain, but for 13 seconds,
you need to not be decentralized while we swap. Right. Um,
and, uh, cause otherwise you're just putting band names on this. So this,
this is an enabler for all of that to happen.
Wire won't have its stock exchange, right?
What wire is going to do is allow for somebody to make the stock exchange using wire, like
relying on wire technology for it to be able to be robust, universal, accessible, liquid,
stable, blah, blah, blah.
I'm going to make this really simple.
We're going to have universal exchange, a universal DEX.
There's going to be universal wallets. There's going to be universal exchange, a universal DEX, there's going to be universal
wallets, there's going to be universal marketplaces built on wire. And that's the user experience
that this industry is going to have to, that they're going to enjoy. You know, it's not just
about a universal transaction layer. It's like, here are the things that everyone does every day that they're exposed to or they interact with.
And, you know, we're improving each one of those verticals to allow you to do more things in a seamless way, cheaper and more secure.
Like it's really solving the problems across the board.
Awesome. We just we're running against the clock a little bit here.
So just wanted to reach out to the listeners
and see if there's any questions
that we can answer for you in the next few minutes.
You can drop them in the chat or you can raise your hand
and we'll get your questions answered.
Going once, going twice. All right, fantastic. If you do become unshy and do have a question, you can hit us up. You can certainly drop a comment or you can message us directly.
But I just, Ken, I want you to take a minute to kind of close out and kind of talk about,
you know, the partnership with Jamie and Wall Street Bets
and how this is going to absolutely hockey stick
absolutely, hockey stick, what we have to offer the world.
what we have to offer the world.
Yeah, well, Jamie is a strategist.
You know, this is the perfect position for him, like, let alone everything else.
Like, what people don't know about him is, yes, he's a community builder.
Yes, he understands the financial markets, but he's also technical.
So him coming in and looking at our architecture, because he's been pitched this a million times,
like, oh, we've solved X, Y, and Z.
And then he goes in, it's not the case.
He went in, took the time, learned about our technology.
I was like, yeah, this is
actually the thing that's going to move the market. Um, so because of that understanding,
he now understands what can be done with it. And so from a strategy perspective,
you're going to be seeing a lot from wire, uh, with, you know, um, uh, with with you know um uh with you know jamie's sprinkle of of his intelligence on on how
to talk about it or what we can do you're going to see a lot of that in our marketing and and uh
you know branding in our launch strategy uh so i see fade and and uh they came up here. He had a question. Go for it.
Hey, what's up, guys? So outside of the UTL technology,
is there a Lighthouse project specifically
that you guys are able to speak on
that will drive the culture of Web3 to your blockchain.
You know, because yes, the technology sounds phenomenal,
but let's be honest, I would say 70, 80% of crypto right now
is our DGENs chasing a fast play on Solana, etc.
They have their heads down.
They don't really pay attention to long-form podcasts that are educating them.
So is there anything, any sort of play that, you know,
is there any lighthouse play that you guys, you know,
you spoke on a bunch of different types.
So is there one specifically? Like I know you spoke on a bunch of different types so is there one
specifically like i know you talked about dexes and and etc i mean yeah um yeah that's a great
question ken if you want to take it and yeah i'll uh i'll just say that you know wire has never been
about short term we've been about you, actually solving this industry's problem. So, you know, where, what grabs attention now, like the DGENs and all that, that's really
of like, we're building the technology that this entire industry, all these companies
will need to use to be the most highly performant.
And so it's really not like a B2C play for us. Like we're B2B that, you know,
where these DGens are currently at on Solana and on, you know, whatever they're doing there,
it's going to be like Solana and those dApps themselves that enable wire. Like you're not
going to see like wire in the headlights, in the spotlight. It's like whatever dApps you're not going to see like wire in the headlights in the spotlight. It's like whatever DAP you're currently on.
If anyone's old enough back in the day, like you had a website and then you would go to
like the bottom right hand corner of the screen and it would be like powered by Intel.
That's what's happening here.
Like wire is just chain agnostic infrastructure that's going to be implemented like across
every chain and dap and you know it'll be
like that that bottom right hand corner will be powered by wire so we're not really worried about
like where the dgens are that like it's the daps themselves that the dgens are on is where wire is
going to get enabled um but sorry go ahead ken yeah but I'll say like what we're doing is what I said earlier is when you solve interoperability properly, it actually opens up new feature sets.
And so no one knows how to wield those swords like wire because, you know, we know our tech better than anybody.
So we're building proof of concepts right be. We're building a universal wallet.
So we're building proof of concepts right now.
We are building a universal, I'll call it a digital marketplace
because it's not just an NFT marketplace anymore.
It's going to be all types of digital assets.
And then also we've laid the groundwork for universal AI agents on chain.
So it's like those are the four pillars that we
see. It's like if, so building those, those out and had that, having those toolkits ready,
that will be, you know, 99% of what the industry is going to be utilizing, you know,
RUTL for right off the bat. And then from there, you know, everyone can start building,
you know, boutique or bespoke uh once they have a good news i just need to need to interrupt
here because i i just feel like i need to approach this from a different so dgens will continue to
dgen they can now dgen better right they don't have to freaking like do this they don't have to
wait waste time moving money around you
can still buy your pump fund but you can do it faster with whatever money you have left over
from whatever account because you lost all your other money or tied it into some other thing or
whatever like you you you can now get into the pump while it's happening instead of when it's
too late right you don't have is that and you don't need to like go through,
like I said, there's the powered buy.
Like it's not gonna be like,
oh, buy your Solana coin through wire.
No, it's just, it's just the degen.
Look, the reason why it took me so long to like buy into wires
because I got accustomed to this,
not this technologically not being possible.
And I kept waiting and looking for what's the catch
and I catch and what's it.
And I couldn't find it until I said,
okay, fine, I'm not gonna find a catch. Let's find a different way for me to get proof beyond
a reasonable doubt. I got it. Right. And that point that I realized, holy cow, uh, the only
thing we need to do now is just shattered the, uh, the, the, the, the limitation, sorry,
shattered people's, um, notions of what the limitations are, right. The same way that I did.
And so when I do the wall street bets and I see that Sam's here we're going to be doing this together uh when we launch this thing it's going to showcase it so
that people go how the they pull that off how did how did you know technologically speaking
how did he just seamlessly make crypto talk to itself right but you guys at that point it sells
itself we don't need to pitch anybody yeah and you guys the the thing that we kind of haven't we've kind of skirted around a little bit which is absolutely
you know earth shattering game change is gasless we we provide the rails for gasless transactions
across any chain Ken I don't know if you want to speak to that, but if we're talking
DGENs, I mean, for God's sakes. I can. So just a quick anecdote. So last March,
last time Ethereum really had a nice pump, the gas fees went through the roof again. The highest they were since the NFT peak back in 2021.
So 13 months ago, it was like $80 to $100 to do a swap on the Ethereum network.
It was over $100 to purchase an NFT to buy or sell an NFT.
that's going to happen again,
That's not even minting it.
That's just trying to like moving it.
that's going to happen again.
You're going to have agents come on chain,
which is just going to hockey stick the amount of on-chain transactions.
So even Solana and others are going to get like saturated if there wasn't a solution
to be able to scale things properly.
And you would have Solana transaction fees like go way above what anyone thinks they
could go at a current standpoint. So with Wires UTL, we bring, like we,
we bring in the, we build, or I'm sorry, we build up those transactions into our, into our network
that where you're not exposed to whatever the chain of origin transaction is. So you can bring ERC-20, ERC-721, ERC-1155 into the UTL.
And when you do a transaction with them, it's not costing you the main chain's transaction.
It's because wire has universal TPS.
And so just that alone would save you it in that, in that circumstance
of last March, it would save you a hundred dollars per transaction. And so that's the,
that's the incentive. You know, that's going to be the carrot. It's like right now when things are
low, yeah, there there's the DGENs as people say, aren't going to care about it that much. But as soon
as things not even go to 100, if a transaction goes to $10 again on Ethereum, people are going
to really start caring. They feel the pain. And by that time, WIR's UTL will be out there.
And it's like, do you want to transact your Ethereum NFT for, you know, sub a dollar, or do you want to pay $10 plus?
Like, and when you compete at that level, you know, I feel very good about, you know,
getting people converted into our system.
Yeah, I would say that's why all the memes went to Solana, you know know specifically it was because of the gas and on ethereum and that's
where you had that crazy and obviously pump fund as well and you had this craze meme craze um
november of last well not last year prior the year before and uh yeah that's that's
that's amazing actually this is extremely interesting thank you for
answering the questions and and bringing me on stage.
I think we're going to go ahead, Ken.
I was going to say, by the way, I don't know if we've touched on this enough, but this isn't our UTL and our universal interoperability is not bridging.
Bridging is how, you know,
over $5 billion has been hacked the past few years.
Like this is a whole new architecture that is just as secure as doing things
Like there is no centralization point.
There is no additional consensus mechanism
is like the official way to talk about it.
Like wire like pulls through.
Like if you believe Ethereum is secure,
if you believe Solano is secure,
that's why they transact on it.
Then you inherently have to believe
that our universal transaction layer is secure,
which is just a game changer.
We have another question in the house uh we have pretzel go ahead pretzel
hey guys uh curious from this standpoint do you guys think there's a current dap in the market plus UTL that gets proper PMF?
Or is it UTL plus the universal wallet plus universal DEX that simply lays the groundwork
for then the DAP to be built
for like proper product market fit,
like kind of baseline, poly market and beyond?
So when I say things are reverse compatible,
So if MetaMask, if ConsenSys,
the company who built MetaMask,
if they want to make MetaMask a universal wallet
at that level, at the company level, they can add our
architecture in and just come out with their next tweet and say, you know, MetaMask is now a
universal wallet. If they do not want to do that for whatever reason, I mean, I don't run consensus. I don't know how they feel about everything. Users, every user is able to make MetaMask universal
So Pretzel, if MetaMask doesn't want to do it,
because maybe who knows why,
but if you use MetaMask and you're like,
okay, well, I still want MetaMask to be a universal wallet,
you can make that happen.
And so from my standpoint, it's like MetaMask should just do it
or it'll be like death by a thousand cuts
where every user is going to want a better experience with MetaMask
and they're just going to enable our universal functionality anyway.
And the same goes with like a marketplace
like Magic Eden is the leading NFT marketplace.
We're talking with all of these companies, by the way.
if Magic Eden wants to have universal functionality
which would be obviously an increase
we're providing the infrastructure that would allow them to do so. And so I can't make decisions for all of these
companies or even Uniswap, right? Uniswap is an EVM compatible swap. If they want to be universal,
you know, swap, if they want to be universal, we can make that happen for them at the, you know,
at the core level. If not, then people, you know, each individual utilizing Uniswap,
you know, will be able to, you know, make themselves universal. So I can't control
other companies, I can just control mine. And so that's why I'm saying like, we are building a
proof of concept of a universal decks, a universal wallet, a universal marketplace and universal
agents, because I can't rely on them to do it. So we're just going to do it as well as build the,
you know, the chain itself, which we did. And, and then if anybody wants to compete with us at the product level, then sure, they can.
And it'll be just a general market.
And that's what I kind of want to get.
That's what I tell people when I'm presenting or talking to investors.
It's like we are removing the blockchain wars where it's like you know uh you know a meme launches on coinbase and so
everyone has to get their liquidity from solana over over to base uh or i'm sorry i said coinbase
but i meant bashing they want to get their liquidity from base or from uh solana over to
base chain and then and then trump launches you know his meme coin on on solana so
now everyone's you know taking their liquidity off base and they have to go bridge it over to solana
that's that's the blockchain war that's done now everyone is going to be no one's going to be in
the care you know do you know what what uh programming language programming language was used for Candy Crush
or for your Venmo app or whatever you use?
No one's going to know what blockchain architecture is being used.
Everyone's going to compete at the product level from here on out.
And it's the best product win.
If the best marketplace that's ever been created is on Tezos,
then Tezos, that Tezos marketplace has a strategic advantage
because it's now not a Tezos marketplace.
It's now a universal marketplace.
And so we're just going to be the first, you know,
first universal DEX marketplace wallet agent.
And then if anyone wants to outcompete us, like by all means, go ahead.
Because at the end of the day, we just care about, you know,
building the ecosystem for, you know,
wires UTL and enhancing every other, you know,
all the users and all the liquidity on all the chains.
Beautiful. Okay. I want to thank everyone that is listening.
And I want to thank Ken and the team and the team in the background that's helping us make this
thing awesome, make the spaces awesome. And especially just massive shout out to Jamie.
playing awesome, make the spaces awesome. And especially just massive shout out to Jamie.
We're so excited to have you on board. Our community is so excited to have you on board.
And this really marks the moment where the traditional finance and blockchain and mass
adoption, the spark is lit.
we plan to do these spaces more often and in a regular cadence.
And we're super excited to,
we're just super excited to be here
and for all these things to take form.
So Ken, Jamie, if you have any kind of of last words before we close we'd love to hear them
no i'm just uh yeah thanks for for for doing this thanks for hosting this and having me and uh
i'm so excited like it's it's hard to sell like abstraction.
And unfortunately this is kind of what we're so excited about.
And the people that are able to kind of see the abstraction are going to be equally as excited.
The other people that can see that abstraction are probably going to be
With, with well justified skepticism, which will be, you know,
quickly overcome the moment that they actually see it.
Once they believe it, they'll believe it once they see it.
And the real stuff is what happens once the potential is unleashed.
And so wire is basically just unleashing the potential.
They're creating the USB cable, I guess.
Well, they keep changing form factors, but whatever.
You know, not USB-bc regular old usb i mean but actually even even
the usb concept like for any engineers out there like it still uses the same concept right it just
doesn't fit in the hole right like the idea that you can just hook daisy chain stuff to itself like
it's so different from the like old-fashioned parallel or serial ports or ps2 like it is just you know yeah that's way too
technical for most people but it is just it's unleashing potential what peripherals you can
hook into your computer is anybody's game we're just going to prove that you can now
daisy chain and hook in whatever the hell you want with plug and play functionality and i'm just like
so excited to to prove that beautiful man beautiful thank you jamie thank you ken
until next time au revoir thanks everybody take care cheers everybody Thank you.