Hey guys, can you hear me?
Yeah, you're good brother. You're good man. I'm just gonna wait about three more minutes just let the room fill up a bit and then now we can get started but it's good to have you guys up and I posted a space his link up on the nest if you guys want to retweet that feel free to do so man good to have you guys up here now
Thank you, thank you, we'll do.
I think it's going to be a small space to them and not sure if many of the people are going to be joining. But anyways, man, it's good to have you guys up and yeah, we can just talk about real-world dasses on the blockchain as well as some events that have been occurring this week. So before we get started, man, why don't you guys
give yourselves a quick introduction on who you guys are and what you're building. We can start off with Archimedes. You guys are new to the spaces. So I want to give you guys the stage and yeah feel free to introduce yourselves and all that good stuff.
Yeah, absolutely. Appreciate it. Norris. Norris. I'm the small space either totally totally expected with like what's going on and seeing some of the other live spaces that are on right now. There's some big ones. But yeah, so my name is Kyle. I'm the product manager here at Archimedes Archimedes launched in
February, I believe, end of February. We are a leverage stablecoin protocol currently offering leverage on OUSD so built up on top of origin protocol. But we've actually released some news about a new roadmap and pivot in direction. We are actually
moving towards leveraged Omni pools that are also guard railed and protected based on certain risk capital of our users, which is pretty exciting for us. So an example of that would be deploy on top of convex pools. You can leverage them. Our pool hopper will automatically
hop between the highest performing APY pools and you'll be protected from each underlying asset, whether that's ETH staple pegged pools, whether that's staple coin pools, or it could also be DGEN governance token pools such as ETH ALC.
That's the direction that we're going. So yeah, happy to be here. Good to have you up, brother. Landaxle is going on, brother. Good to have you guys up. One should give us an introduction about yourselves. Hey, yeah, I appreciate the invitation. My name is also Kyle.
So we're land X, a perpetual commodity vaults protocol, which really translates into tokenizing the yield that come from real world farmers in different areas of the world.
provide lending services to those farmers who many times either don't have access to traditional financing channels or if they do most of the time it's exploitative with incredibly high interest payments or other completely unfair terms like sale leaseback programs where
The underlying land is actually sold and then the farmers allowed to inhabit the land and farm it to make their living. But we offer a channel for them to access fair financing in return for committing a share of their yearly harvest to the protocol.
Then we deliver that yearly harvest in terms of corn, soy, wheat, or rice to a tokenized marketplace where investors are able to gain exposure to this uncoordinated asset class, completely uncoordinated to cryptocurrency.
popular strategy amongst almost every major investment firm in the world. So the demand is palpable for this kind of asset class to be accessible to crypto native investors. But we're starting to get pretty close
to our main net launch. It's a really good time to learn about the protocol. I'm sure everybody here sees RWA's and real yield trending on Twitter at least a couple days a week. It's an exciting time and we're glad to be here. I really appreciate it. You're given us the opportunity to speak today.
So CZ submitted a letter saying that you know what's going on
you know, we're being an f-ing on red-visors' securities in the US. So, wanted to know your guys thoughts on this. Do you guys think this is a nothing burger? Or do you think that the DOJ might actually have...
Jumping and pressure on the big buffer finance for quite you know, you know, it's gonna be faster than you
You can start I was gonna say yeah, whoever wants to start first I think there's a bit of what delay your spaces is acting up that's backing up. Yeah, there's a little bit of a little bit of a delay is coming through a little robotic that's okay. I think the question was just
surrounding the recent developments with SEC lawsuits that came out specifically against Biden, spy on the US, CZ, and having coinbase. But this is old news, right? So everybody knows, Gensler's
stance on cryptocurrency. I think it's pretty interesting that he decided to go after Algorand and label it while not he in a vacuum. But to label it as a security given his past connection to Algorand, as far as
terms of if this is going to result in any actionable legislation or any action being taken against cryptocurrencies directly, I couldn't say because there's such a long cyclical history of aggression toward the cryptocurrency industry that we've been subject to
It's almost akin to what we've seen over the past years for those who have been in the space for a little bit of time. In China with the repeated bands on cryptocurrency, the repeated bands on cryptocurrency mining, and then we just see the cycle continue where a new ban will be issued.
And a couple of years later, the mining will return if it ever even left in the first place. There are tons of maps and analytics headl suggests that these operations never even left China. Whenever those bands were issued, I kind of think we're seeing something similar in the United States. I think a lot of it's going to hinge upon the election next year and what
kind of candidate gets into the White House and their stance on cryptocurrency. We'll influence it heavily. I don't think we're going to see any short term knee jerk reaction to these classifications or these lawsuits. I think it'll take a bit of time. So I really think the answer to the question is going to depend on the next
the next president because as most people know the majority of I think Democratic candidate, well I wouldn't say the majority of candidates but just on a just on a surface level it seems like Democratic candidates are in general more opposed than Republican
candidates. I mean, we know that the Santos regardless of what our opinions are of his chances of actually becoming president, R is opposed to a lot of government interference when it comes to cryptocurrencies. So I think if we get a crypto-friendly candidate, we'll see a lot of this pressure be
We meet back and a lot of the focus around cryptocurrency being a versioning industry coming with trillions of dollars and the United States wanting to be the center of that and benefit from all of that money. Then it will be good if not Elizabeth Warren's
screams loud enough and she has sympathetic democratic candidates who in take the White House then we're probably going to have a harder time. I can meet his floor as all yours brother. That's funny. I don't want to get into the politics too much of it. I try not to take sides on it.
of that, but more unlike the Binance Coinbase-Easy America stance on crypto, it's pretty ironic and hypocritical that they allowed Coinbase to be listed as a public company back in 2019 and they've been operating since then.
BlackRock actually uses Coinbase for internal trading in crypto. I don't really know how the SEC can turn around and say Coinbase is operating as an illegal exchange with unregulated assets when the largest manager of funds
Basically, in the world is using Coinbase. So does that mean are they going to attack BlackRock for mismanagement of funds because they're using unregulated assets? I don't think that they're going to do that. So, like my personal opinion is that this is really just trying to kick the can down the road.
and slow the expansion of crypto as much as possible in the United States and delay for CBDCs to come. I think most nations are developing them. I believe Venezuela already has a CBDC that the government controls. I know Canada is working on one. That seems to be the
the direction that they're heading. I think it's more of a nothing burger in the sense of assets are actually going to be frozen and taken from the people. I think that's easy and Coinbase are going to take that on pretty heavily and they have pretty deep wallets to do so. Yeah, it's not a matter of like
Oh, they're getting sued and any of that stuff is just a matter of where's that money that they're going to use for legal fees going to come from right and You know a bit of my speculation is that You know they always need some sort of stablecoin reserve right they actually need more stables and actual crypto
So how I'm looking at this is like yeah, I don't really think an FTX event is likely going to happen But if there's some sort of sell off I think it's gonna be because you know, they got to pay some legal fees and Coinbase is an exactly a profitable company. Well, we're not in a bull market. I think everybody knows
of the CFTC. He is now appointed as a new legal chief officer at Circle. And if you guys know, of course, you're the company responsible for USDC. And one thing I've always mentioned is that USDC might be that prototype for
For a CBDC, right if you just look at the people behind circle and when I mean behind circle I mean who has majority share and It's people like black rock right if you look at your favorite products that you use in your everyday life Black rock probably has a good majority of those shares
So with all this happening and we're seeing a lot of shift in you know how you're up frame we've had Jesse powerful crack and step down and she's gonna have to be who unless he already did be like the head chief of crack and Do you got do you guys feel that
You guys feel as if the track by industry is trying to extract revenge on Binance because of what occurred with FTX. I sort of deemed FTX as US reg or SEC type money.
And yet, you know, they're going after exchanges in which they use to dump on us. I believe during the US/ECZ Pag, the US government literally used Coinbase to dump on the market, which is the weirdest thing I've ever met. It's so contradictory.
go ahead, RTC. Exactly. I was just playing off what you were saying. BlackRock pretty much owns everything and they use Coinbase. How can SEC turn around and sue Coinbase? It makes no sense to me. Going back to CZ specifically, do you know if they're suing Binance.us?
or CZ or is it both separately? I think it's the entire thing man. They want to freeze Binance US assets. It's a quote-unquote like prevent another FTX situation but if Acton Matter is, you know, Brian Armstrong has met with the
you see over two dozen times and he's contacted Gary Gensler dozens of times like they made a video saying that you know the numbers
the next step is the AC versus support. And everyone knows the AC is the giant, giant, giant, giant. Right. Their their whole thing is to go out your
people and look at the great gorilla. It's just tragedy after tragedy after tragedy. The the 08 financial crisis happened under the SEC FTX and Celsius. They're protecting investors
is from life changing air drops, but yet, you know, clicking the buttons for the hopes of massive upside potential is a chronic humanity, apparently, right? Al grand was the best thing since sliced
red and you can build the centralized Uber. And now, Adam is a security, how world is Adam a security? And who are they? I have no idea. You bet.
I am not the one who can't love me.
Good Pansy. I'm sorry if you have to speak to the
for a token lamp atom is I think
Yeah, I did connect from my wolf fight. I mean, a ton of issues. I'm just gonna go on my mobile deck. Give me a sec fellas. Okay. Yeah, so anyways, pardon
That rewards users for for holding it sometimes you'll have a air draft but
And can you hear my index?
No, it's bad. There's some robotic interference coming through when I can. So I think there's a latency issue. Twitter really needs to fix their spaces. I remember this being a problem like a long time ago as well. Hosting code. So where
We're totally audible to our audience, but I don't I just think that we can't hear him. Oh, well, yeah, that's when I'm there. Yeah, it's annoying. But yeah, because Bitcoin, I totally agree. Like I have no idea how out of security. Like it has, it does not represent cosmic.
or is it even representative of a company in any way? Yeah, just because you can stake it to earn gas fees is apparently making it a security. It's pretty ridiculous. Yeah, I agree. I've scanned the document that came through.
I'm having read in great detail, but just the entire list of, and they applied the same logic to I think all of, if not all of, at least the majority of the coins and tokens that were identified as unregulated securities and
Yeah, I'm baffled. It seems pretty hollow then at the very best. But to call one of the reasons they identified for classifying ADA as an unrestricted
security, if I believe was the bringing online of smart contracts. So something to do with the network's functionality and the token's role in it. And then furthermore, to cite BUSD as a security
with a reasonable expectation of generating profit simply because Binance facilitated interest bearing opportunities on the USD. I think it's also a little bit of a stretch by that.