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NEUTRON NATION
Recorded: June 5, 2025 Duration: 1:04:09Space Recording
Short Summary
In a dynamic discussion, key developments in the Neutron ecosystem were highlighted, including the launch of new NFT collections, significant fundraising efforts by the Quarks project, and the introduction of advanced DeFi strategies on Mars Protocol. Additionally, a governance proposal to allow Bitcoin as collateral is anticipated to enhance trading opportunities.
Full Transcription
Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Hello, hello everyone.
Welcome to this week's Neutron Nation.
Can you hear me?
Nice.
I see some thumbs up.
That is great.
Maybe do a mic check for Spade and Joe.
You guys got me?
Yeah, I can hear you.
Cool. I just wrapped an interview with Spade. That's why we're a couple minutes late.
Oh, no worries. We're waiting for some people to get in, sharing the link around,
getting all my pages ready to pin in the nest. All good. How'd your interview go?
I think it was good. It was, um, what was interesting. I mean, I'll spoil it. So you guys don't have to watch it because I alpha already alpha leaks already in minute one.
Well, I'm not going to give the details
of it because i can watch it but in general it was interesting to hear somebody lay out a cohesive
plan where the users the applications and the blockchain itself have various integrations that just make the ship sail a lot smoother. And it made me think about how there is so much disorganization,
even within one blockchain, when you have all these competing apps,
when they could be working, they could be working together,
but you do need the L1 to participate in that process.
So it was, it was good to hear somebody lay out that vision
um i'm the kind of person who would almost prefer a top-down approach for blockchains rather than
like what we've seen up until this point with everything being a disorganized mess you know
zero plan zero vision zero coordination and of course zero organization so i i enjoyed the conversation quite
a bit i'll be i'll be releasing it first to x probably sunday night monday and then the big
version on youtube sometime later this month nice i think it's good to hear looking forward to it
just jumping on here i think it's really interesting, the comment you're making.
What I think is most, I think there's often this spectrum
or this opposition between, oh, is the project decentralized?
And or is it like, you kind of have decentralization on one side
and you have proper organization and coordination on the other side.
And I actually think you can do both.
Why do we care about decentralization?
We don't care about sounds or whatever.
We like decentralization because it provides guarantees and properties that are valuable
to the user, right?
E.g. non-custody.
I can't rug your assets. E.g. non-custody. I can't rug your assets.
E.g. censorship resistance.
I can't decide whether or not you get to use the protocol.
You just can.
And you can be very well coordinated and organized
in how you build a decentralized protocol
that has these properties, if that makes sense.
And I think that is what I want to see in the properties, if that makes sense. And I think that is what I want to see in the industry,
if that makes sense.
Let's build real, valuable stuff.
Let's do it in a very organized, competitive,
efficient, ambitious way.
But let's ship the products that have the properties
that we got interested into this industry for
in the first place, if that makes sense.
Yeah, I'm with you. I think we're not early anymore. So there'll be some degree of disorganization
simply because of the geographical decentralization and also the permissionless
nature of it. But in the end, in order to be effective, all the different systems have to click to a certain degree.
And I think we're at that point where every,
especially in DeFi, every blockchain is free
to operate on their own system of governance,
their own system of ethics, their own system of values.
And there's a spectrum there.
I would like to see it lean more towards the streamlined, coordinated, organized end of the spectrum.
Yeah, I agree.
Oh, nice.
We're getting some new apps in the Nest up there.
Yeah, I'm trying to, while you guys are talking,
and I have a second, I'm going to try and pin some things.
I mean, as we kind of announced while we tweeted about this space,
some things I wanted to talk about today,
just some announcements and fun things that we've been cooking.
So, like, I already see, you know,
some quality neutron native NFTs as PFPs here in the space. We have some quarks,
we have some cutes, we have some meme ducks. And so definitely want to congratulate those
collections for launching, Super Bowl for collections for launching and talk about some
of those. And then later we can talk about some of the simplified UIs for advanced strategies
that are building on Mars, things like Delta Mars and Super.
Those are two important trades that we're solving for on Neutron.
And then, of course, we can speak about Bill versus Bear and some advancements they're making.
And yeah, I mean, the list goes on, but we can get to those as the space continues.
And if anyone has any questions or comments while the space is
continuing, feel free to raise your hand and we can have you up on stage.
I will say just quickly in passing, I see a few real-life photo and faces. Come on, you guys,
get yourself some PFPs. Be like be presentable come on like get
yourself a nice duck a cute something you know a quarks
yeah like for once it's like no we don't want you to face docs we actually just want the pixels
yes that's right. Give us the pixels.
Yeah, I mean, so the first thing I pinned in the nest is that the meme ducks were the first collection to fully mint out on Superbolt.
And so if you don't know what meme ducks already are, they are a small collection of one of one, like 400 one of one pixel art ducks and the first couple collections launched on stargaze and so the most recent one launched here on superbolt on neutron and they
launched out only 400 in this collection so a big congrats to meme ducks and superbolt for that
all those ducks are just like full of social and pop references and it's like a fun mystery to go through them and and see
like what is this a reference for and you rack your brain like i even tried asking chat gpt i was
like can you tell me what reference this is and i couldn't get it chat gpt just isn't smart enough
yet you need to go to the source and so yeah if you guys have any drop them in the comments let's
see your ducks or you can go to the Telegram. We were all sharing them last night.
Big congrats there.
Put that duck back into your pants there.
And then, of course, in addition to meme ducks, there were the cutes,
which is a part of the new cult cabal, which is not a cult.
They just put the cult in culture.
Actually, the founders here in the
audience maybe if he wants to come up and say a few words about it he can i'll um i won't pressure
him but if he raises his hand he can come up and um yeah so they're going to be operating with some
of their mint funds in a dow on neutron and and using some of those funds to participate in DeFi on Neutron Chain.
So that's pretty cool.
And then last but not least, we have the Quarks, which have a like over $300,000 war chest
of Bitcoin.
Okay, here.
Ques, do you want to say something about Ques before we move on?
Hello, sir.
Howdy.
Yeah, I just got my mic on, so hopefully it's up.
Yeah, we just passed our first proposals in the DAO with the first 50% of the Mint Funds proceeds.
We're going to buy 3% of the supply of newt throughout the summer through a limit order.
One neutron for 69 newt. you can sell it to us,
and whatever SPF said after that.
You're going to be a 3%er.
That's sick. How are you doing it?
Are you using some kind of like an OTC stuff,
or are you using the order book?
Oh, man. Somebody suggested the OTC after the prop was up,
and I was like, damn, that's a genius idea to go through new DAO OTC. But we're going to do it through a limit order on Astro Port through the DAO. So it's already it's in veto lock for the next two weeks and then we'll execute it and it'll run for 90 days.
Very nice. Advanced DeFi usage from from a down on the like DAO as well right there.
Holy shit.
Oh, yeah.
We're going to start doing,
we're going to convert a lot of our USDC to Jade,
and then we're going to start LPEing for droplets
as well through the DAO.
That's June's proposal so far.
Okay, holy shit.
You guys are even more DGEN than I am.
Wow. I love am. Wow.
I love it.
Yeah.
Dow Dow makes it so easy to participate in DeFi from a Dow.
You used to need to know how to interact with contracts directly,
and now a Dow Dow, anyone can just run proposals and make swaps on AstroPort.
You can mint credit accounts on Mars.
Have you guys looked at the different, like, well, actually, tell us about your portfolio preferences for the Qt's Dow.
What do you think the Qt's Dow is?
Is it an aggressive investor or is it a more conservative long-term oriented like investor
oh man uh well what i did is i i split 60 of the mint funds four ways we we got neutron and
d neutron with 25 of it half and half split and then we went 25 usdc 25 newt which is that limit
order that we're going to be placing and then then the other 25%, we're just splitting across neutron DApps.
You know, if they have a token like Mars or Astroport or Astro Vault.
I heard Jade, I've been summoned.
Yeah.
I like the portfolio a lot.
I'm hearing like a big focus on blue chips here.
I like it.
Yeah, well, the big one is whenever super bolt brings the
fractionalization to the particle accelerator we're going to use a lot of that to lp with the
fractionalized cutes as well and and do a lot with that can you uh can you can you remind everybody
what the the the how's it called again the fractionalizer the the particle accelerator uh
particle accelerator yeah do you wanna do want to talk us through that?
Deploy Don's probably better at explaining it,
but the way I explained the way his fractionalization model worked
was I can pawn my Qt.
I go to Osmosis.
I put my Qt in a vault.
They give me a token.
I can use it on DeFi,
and I can come back and reclaim a Qt that's in the vault.
I may not get mine back, but I'll get one that's in the vault as long as I have a token
to redeem it.
And Super Bowl is going to be way crazier because I hear they're going to tokenize rather than
one for one, one token per NFT.
It'll be weighted on rarity even.
So a more rare token will get way more tokens in return and it'll cost more cash.
That's the way to do to do it yeah it sounds really
crazy that's awesome so in essence they stay non-fungible even after they're fractionalized
which is the way to go yeah they're locked up i mean you can see uh fractalization a few other
places right now but if you bring a token back to the vault you can cash one out and this
this does a lot more things than just when i say pawning it you can dca into the the token
until you have a whole one to redeem like if you wanted to like dca into a blue chip or uh if you want to trade and need something like that you guys can both just pop pop and then pull out with
the tokens if you coordinate it you know it's just a it's different you know.
Let's take.
Sorry yeah I don't go for it.
Oh yeah I was just gonna say yeah in addition to Q2 who are planning on
making particles of their NFTs the quarks are also planning to do that and um that's what they're
going to use part of their their war chest for is by making like a liquidity pool a deep protocol
on liquidity pool on astroport with those particles and paired with bitcoin or neutron i don't remember
what they're going to do and yeah the same thing like the idea is not to incentivize staking just
like kind of the mantra for drop is anything
that is staked is is locked away and is not health healthily participating in the defy economy on
neutron and so the same thing with nfts you can start to make them um more similar to tokens with
lps and productive trading fees um so that's the kind of activity that Quarks is also trying to encourage.
Yeah, and Quarks have a real war chest. We have like a conflict chest or a street fight chest or
something to play with. Yeah, just put that into the nest. Like 350k um a good chunk of which is in bitcoin if i if i'm uh
if if if if i uh remember that right as well is that what you guys are talking about
yep exactly
oh that's huge that's exciting something something that would help is um i'm on the superbolt
site now i'm at the cutes collection is there a way to directly link the dow
onto superbolt even though there are different apps i think that would that would be helpful
for especially for new people that just want to be make it like a landing page and
then from there they can go to the twitter go to the go to the dow go to the discord whatever the
case might be for each collection yes thank you for the reminder i didn't have the dow when i
first did all that so i have a link now and i can go put that in i'll do that today now that's
awesome because any type of making it like a like a more social than like what a defy app ordinarily is to me is what makes
an NFT community, NFT community. And I think that would be really awesome.
Easy onboarding, just go here. And then that's all you need would be,
would be a perfect for new users.
Yeah. And surprisingly we have like 21% of the new collection already staked in the DAO.
It's pretty rad there.
Oh, that's awesome.
Yeah, that's really good.
That's really good.
Oh, and I haven't even staked mine yet.
I didn't know that was an option.
I'm going to do that right now.
There you go.
I pinned some random USDC thing by accident, so just ignore that.
It doesn't let me remove it.
When you were on a speaker on spaces, they changed the copy link button to share to spaces.
So it could be worse.
I could have pinned something weird.
That only happens when somebody with a mutant ape PFP comes into the space.
If you're doing a space,
somebody with a mutant ape comes up,
they will pin a bunch of stuff into the nest that is just probably not legal in your jurisdiction.
Yeah, I understood that reference.
I live in Canada, so everything's legal here.
It's a land of crime, so it's perfectly fine.
Crime is legal.
Where I'm from, it's okay.
Yeah, it basically is.
Quick question on cutes.
I'm on DowDow right now, and I see there's two DAOs.
Which is the official one?
There's Cute Cult Cabal, and there's Cute Cult.
I think it's Cult Cabal.
Yeah, that's the one.
I think that's the...
Let me see here.
Am I muted?
Yeah, it's Cult Cabal.
We have all three collections, actually.
The first one on Stargaze, the Cute Cult,
is our original collection from last year.
The Cabal is the new one on Super Bowl.
And then, we're IBC 721 enabled on the original collection from last year the cabal is the new one on superbolt and then where ibc
721 enabled on the original collection and i might have moved a few of the original
cutes to neutron already with all this other stuff and i made a dow and there's five cutes over there
so we can technically anyone can move their original cutes to neutron there's just we can
pretty much just start a dow there right now because the metadata on Stargaze collections are not on-chain, and therefore
Superbolt kind of has trouble seeing them for right now. But I think they're working on that.
So basically what you're saying is you're creating like the 500 wrapped Bitcoin horrible UX with
your Qt's? Well, what happens whenever this other stuff goes down?
Do they get burned and the 5 on
Neutrons stay? That'd be kind of neat.
Keep your Qt's
safe. Bring them home.
Yes, you can use the bridge already
through ARC protocol.
I am
staking 73
Qt's.
Oh, man, on the Stargate side or the Super Bowl?
On the Super Bowl side.
Oh, you're now the leader.
You already were the new father, but you're officially now.
I'm the cute father, too, now.
Be careful. He's going to take over the dough.
I think it's too many messages for Ledger, actually.
I'm going to have to break it down into multiple transactions.
So another thing, kind of branching away from NFTs for a bit here,
So another thing, kind of branching away from NFTs for a bit here, another thing I pinned in the nest is a thread by AirDrop Glide app, which talks about some of the advanced DeFi strategies that are being created using Mars as Mars Protocol as a base layer. And so I just wanted to talk about those a little bit, especially because we have John here up as a speaker, so he can talk about it as well. And Sandro might be joining as
a speaker too. But basically the intro to this is that there are a few applications being built
on top of Mars that help simplify the experience for a few very specific DeFi strategies. So for example,
many of you probably already know bull versus bear. You can trade on crypto narratives using
bull bear where you long and short two different assets in the same transaction. So that is using
the underlying Mars contracts. Another one, for example, is super.zone. This allows you to do leverage looping strategies where you borrow native assets, swap the native assets for liquid state tokens, and then add it as collateral again and loop it.
And so those two strategies alone would require a bit more sophistication and skill using the underlying protocol of Mars.
But with UIs like Bull vs. Bear and Super.Zone,
everything is just so much more simple,
and it allows the user to just press one or two buttons
and open these strategies.
So I don't know, Don, do you want to talk about either of those
a little bit more and kind of explain why it's important to have these simplified UIs for the users?
Yeah, I mean, primarily they came out of like Mars is awesome, but there's a lot going on on the Mars side.
And for a lot of people, they don't need or necessarily want access to everything.
So Bullbear kind of broke out the perps, made it.
So that's all you can do on Bullbear. It a super simplified easy way to trade mars perps um and kind of keeps everything
separated out so that way you don't have all the overall complexities of mars uh super did
very similar with the high levels or high leverage strategies where you can simply deposit and loop and also kind of separates that out.
So, Bullbear, Super, and Jade all make use of Mars in the backside.
Each target their own different component of Mars.
All fees ultimately still roll through Mars itself.
And being able to abstract that away and make it simpler to use,
it makes it a lot easier than someone going to deposit on mars
because at times it is a little scary for the average user there is a lot going on there
obviously in cases like super the way it works is it'll also transfer that credit account back
to you so you can still use it on mars directly if you wanted to manage it there so if you start
getting a little bit more comfortable with the complexities and want to do other options, you can do more on the MAR side versus on the super side.
It allows that interchangeability.
So for the average newcomer that may want to just trade perps, Bullbear is the perfect place to do it.
Super easy.
As soon as you land on the site, you have everything.
On the MAR side for the similar
setup, you have to set up your credit account and make deposits. Simplifying everything,
onboarding users makes things a lot easier to handle. I actually was just on a call with Clyde.
He's in here, the developer relations guy, rolling out something else that's going to piggyback off that as well.
And I think it's an interesting little spin on things that have been done
before, but not quite like this.
Essentially making use of Mars in the back end as sort of a lease,
if you will, to make things simple.
But some of the fun is going to come out of there soon too.
And I don't even remember the original question.
It's still too early for me.
I'm just rambling.
So cut me off any time.
Otherwise, I'll keep going.
No, that was great.
I also do want to congratulate you on $11 million in trading volume on bull versus bear and um and
part of that trading volume has come from potentially from people creating their own
vibe coding bots which is what i just pinned in the nest a video that clyde just made on how to
vibe code a profitable perp spot in under 10 minutes using bull versus bear on neutron.
And so if you haven't already watched that, give that a watch. It's literally less than 10 minutes
of your time and you can set customized bots using bull versus bear to take profit, to farm
funding rates. For example, I know five on it is using it to farm the funding rates on different perps.
So on bull versus bear,
when you long and short different assets,
they have different funding rates and his bot is designed to pick the two
assets that have the highest funding rates and just open,
open that trade and farm it until the,
the rates come down a bit and then just lock in that profit.
Is anyone here running bots like
has anyone had some success with it um like i i know rama has been running a couple for a while
and he's been doing pretty well but has anyone made a bot uh following that video and is
in profit i mean i so i did make a bot um Oh, five apparently as well.
I want to hear from you five.
But yeah, TLDR, I only had 15 minutes in between calls.
So I was like, holy shit, I don't have too much time.
Let's see if this works.
I watched a video first time, downloaded it, cloned the repo,
ran one comment, one prompt in the AI.
AI kind of botched it.
A bunch of the dependencies were wrong and stuff,
fixed that with the right like, you know, NPMs.
And it worked.
It just started trading.
And I was like, oh, holy shit, I can see the trades.
But then, you know, I was switching laptops and stuff.
So the bot didn't continue running.
I need to figure out a way of like getting it
to run in the background without it being
just like a pain in the ass to have a machine
running somewhere.
But yeah, it did work actually. It was quite fun, especially for someone like me,
who's like, I don't have a technical background, right? I do everything else at Neutron. And so getting to, you know, my hands dirty a little bit on this was pretty fun, actually.
five tell us about it what was your experience uh it's just as easy but i keep telling it i
Five, tell us about it. What was your experience?
know better than it and therefore i'm not in profit but i'm doing better than i'm doing better
than zaki but i'm under deployed on that's pretty good that's pretty good oh you wait you're not
even outperforming me that's pretty sad yeah yeah was like, I'd like to conservatively run every 30 minutes
and only do 2x leverage. And I was like,
run every 5 minutes. Go
4x. I'm going to bed. I'll see you in the morning.
Famous last words.
Yeah, I mean,
if you can't outperform me, you're doing
something wrong there.
There's a bunch
of folks who are outperforming Michael Burry
on Bullbear, though,
so that's pretty bullish.
Dude, there's too many people making
money on this app.
I love how... Wait, what?
At least somebody is.
Wintermute is one of the
worst losers, but actually with one of the worst losers.
But actually with some of the most volume.
11,000 positions, yeah.
Wow.
Yeah, but meanwhile, where is it here?
The Tuna and Tuntunan, Tuntuntun.
Still top two, top three,
eight positions total.
So, I mean,
quantity is not always
the best.
Eight positions,
and he's outperforming
11,000 positions.
Well, I guess it's one
big position, right?
Yeah, the win's big and the loss is small.
Yeah.
Oh, it looks like they made all their money off...
On Om.
Yeah.
I mean, that makes sense.
That makes sense.
Yeah, actually, if you look at the top trader,
which is like Beep Boop, clearly a trading bot,
you can see the losses are almost always pretty small,
like under a dollar.
And so I'm assuming whatever is triggering the bot
to open the trades,
it recognizes when their circumstances change
and it closes them right away,
whereas the wins are much larger
yeah yeah that's right and there's so many losses but it's fine because it's like it's
sense every time yeah yeah exactly and so part of the reason why it excites me to have
these trading bots and especially having tools like the video clive made for teaching people how to do it is because it's just like abstracting all this developer knowledge
that is needed for people to have fun make bots hopefully make some money in the process and then
kind of the next step is if you are able to fine-tune a trading bot that is profitable for
yourself then you can go ahead and take that to Mars,
which is creating something called managed vaults,
which birds have told me is coming very, very soon.
And if you have a profitable trading bot,
then you can open a managed vault
and run your trading bot within this managed vault in Mars.
And then other people can deposit funds into your managed vault in Mars. And then other people can deposit funds
into your managed vault.
Your bot will take those funds
and use them to perform the actions.
And then as your bot is creating profitable trades,
you're earning a performance fee
based on the other people's deposits.
And so again, this is something that is usually
only accessible to either
professional traders or hedge fund managers or people that are running off-chain strategies.
And usually regular people don't have access to setting these up or sometimes even participating
in these trades. And so, and these are two things that you can now do on Neutron with zero developer
knowledge and, and yeah, and you just execute them and you can start, start making money for
yourself and other people. That's pretty dope. That's pretty dope. Highly recommend checking
out the, the guide and just like, you know, playing around with it. Obviously like don't,
don't throw the, the family farm at it to start with, like start with small amounts and just like you know playing around with it obviously like don't don't throw the the family farm at it to start with like start with small amounts and just like you know do it for the
education uh and see how it goes see how it goes i was just about to put my entire paycheck but
now i'm gonna scale it back and uh oh never mind actually do do put the family's do like five bucks it's just one it's like one
no i you know what's funny i was trying to short all day yesterday i was trying to short a specific
token and i did look on bull bear but i didn't see it right away probably because i was using
my phone and i i just hate using apps on my phone and of course if i wasn't too lazy to like get onto the computer
last night and do it i would have and if i actually placed the uh the trade i would have
made some money so i'm going to do it now and uh here we go i'm taking the plunge once again
and i'm getting a very favorable funding rate of almost 400 so i what could what could go wrong
here yeah what could go wrong nice sounds like we're short and bearer no no no no um
i got a better one but um it's uh i have a question about the funding rate so my funding rates
it's positive 388 whatever it is how often does that accrue or go against you while you have the
trade open is it day by day, block by block? How does that work?
Yeah, it's by the second, block by block.
If you hover over, if you have a position opened
and you hover over the funding amount,
it'll tell you the total of amount of funding
you've already either gained or spent.
Okay, and if I gained it, does that go to my collateral?
Does that raise my liquidation point if I'm shorting or lowered if i'm longing how does it work
uh i actually don't know that's on the market that's a good way to ask the question stronger
does it just like a crew on the side as kind of a quote-unquote reward or
it's part of your pnl so okay okay available in your media that's already calculated
in there so your total p l there will include your opening fees your uh accrued funding as well as
i believe i have it including your quote your expected closing fee as part of that as well
that's cool which is why as soon as when you open a position it shows that you're in the negative
immediately it's because that already takes into account all the fees.
All right.
I'm going to open it and we'll take the plunge.
Yeah.
If you hover over the funding amount, you'll be able to see it gaining.
And then if you go to stats and assets, you can click into the asset and you can see that some historical data on the funding
rate for that asset. So you can choose if you're going long or if you're going short and it'll
update the charts so you can kind of see where it has been over the last couple hours.
Awesome. No, this is, I think you've made it easy for someone like me, who's the furthest thing from
a day trader or institutional investor. I just want to, to i just you've positioned it almost as a
sports bet with a vig and that's almost like it was made that way it's almost like the development
they're like how can i get joe's tight money onto this platform in a gambling situation and you
figured out how this whole app was made so we can eventually rope you in and rob you of everything
like joe plays poker and he only plays aces how can i get his money into a gambling app and you
figured out how to do it bright flashy colors yeah why are the confetti though oh of course
there's always confetti i love it is it is it I open? When are you going to integrate this into Super Bowl where you like, you do like a, like a every five days or every 30 days of competition and like whoever agrees to the competition, they sacrifice a certain percent of the funding rate that goes to a jackpot.
And then they win like a free mint on superbolt or they win a free nft
and they don't have to click it just automatically comes up with the confetti the next time they
they log in i think that would be really awesome oh i'm not actually i'm not part of the super
bolt side and i think the confusion where are you let's let's let's get some pride because you go to
the casino you know you could win like a free meal voucher you could win something and
sometimes even when you lose you win because i've lost a whole bunch of money in the casino
and i go to the pit boss i'm like hey man i'm gonna be here for like another day and i just
lost all my money can i have like at least a free deck of cards and they'll give you a deck of cards
because you're a loser i want i want they will they'll do that they'll do that i just want you
to go away i always like to take a souvenir when i get smoked in a casino and sometimes that that
comes in the form of like a five dollar meal voucher a free deck of cards with a hole drilled
through it or like um something and i feel like you could replicate this experience the confetti
is a good start because you feel special when you see the confetti,
but maybe Qt's has some input here.
I don't see it very often, personally,
but the confetti's only for winners.
Yeah, yeah.
One, I gamble for the free drinks,
and that's a plus there anytime.
Oh, dude, I love free drinks,
especially when they come,
when you don't even get to play out your whole your whole bankroll before the drink even comes that's always a fun feeling
but what about nft based copy vaults like you own the nft and you're subscribed to the vault
what do you mean vault you mean the fungible version i don't know like just like you can
only participate in the vault if you hold a certain nft so if you want to join the that's
that'd be pretty cool actually oh so you can basically have a copy trading vault and you can't
copy the trades or you can't join the pool oh a copy i thought you were gonna i thought you
have like a private trading almost like defi defi is so big we need to we need to compartmentalize
it even further than it already is but no your idea is good because maybe maybe rama green lights
a collection and you could copy his bots right is that what you mean yeah or it just it it follows
that it copies them yeah but maybe the metadata gives you your pnl over time
the problem is because all the trades are on screen someone will just copy it and make a
discount version oh yeah i never thought about that another way to do it which actually someone
in the audience mentioned to me i think like one or two days ago he he doesn't want to come up to speed that's okay
i won't name him um he was saying like you could create a collection where all the mint funds go to
fund a copy trading vault on mars and all the rewards that are generated from that vault go
back to the nft holders yeah that's that's what i had in mind you could even like wrap it into a dowdow such that the
so like is your subscription to the proceeds or something of the of the fund um so yeah anything's
possible the uh elephant loop is strong so another thing i just pinned to the nest inevitably when
when this trade that joe just opens goes in the other direction of what he's expecting because he couldn't execute it last night.
And really, that was the optimal time to execute that trade.
I lost about 5% already.
Yeah, definitely too late.
And so, with those fees, whenever you close an unprofitable position on Mars or bull versus bear, those fees go into the counterparty vault.
So the counterparty vault on Mars acts as taking the, it pays out when a perp trader wins and it will receive payment when a perp trader loses.
And so what I just pinned is I think the counterparty vault reached an all-time high of 70% APY. So unfortunately,
that's not great news for the traders, but it is good news for the people who are depositing
into the counterparty vault right now. So unlike some other protocols where the LPs or you have to
deposit a specific risk on asset to be the counterparty.
In Mars, it's just one asset.
It's just USDC.
And it's combined as that one vault acts as the counterparty for all perps that are trading on Volker Spare and on Mars.
And so if you want to participate in it, you can.
I will say that it's a 30-day average.
So the 70% APY is a 30-day average. So the 70% APY is a 30-day average.
And also once you deposit into this vault,
there's a 10-day lockup.
So once you want to withdraw your funds,
you have to wait 10 days.
And so those are kind of the two caveats.
And then of course the third is
if all the traders end up winning,
then you can lose money in this vault.
But just like we were talking about
with Joe and the casino,
almost always the casino wins.
And so that's kind of the story with these counterparty vaults.
You can see they're popular on some other protocols also.
I think DYDX and Jupiter also have counterparty vaults,
which are doing pretty well.
And you can look at the historical performance of these vaults.
Mars actually has a really good stats page.
I think it's stats.marsprotocol.io.
You can go there and you can check out just all the information about this vault, historical funding fees, total P&L, previous ABY, to help inform your decision on whether you might want to enter or not.
I'm realizing that like, so on our last space,
deployed on a few and some of the folks from from delta mars and co so like walked me through
creating a bunch of these strategies i'm trying to look at my pnl right now um i think i made about
a hundred bucks on the marsh counterparty vault um not not super sure but it that's what it looks like. I did close my position on the basis trade on Delta Mars.
And I closed it because, so like on our previous space,
they walked me through the app.
And so Delta Mars is a basis trading experience that's built on Mars.
So it's basically like, oh, take one asset.
And, you know, it's generating yield through staking rewards or such,
and then you can short the underlying.
And if you do so, you are now Delta neutral.
So you're expecting the value of your position
to behave like a stable coin,
but you're getting some yield on top.
Kind of like, that's a simplification, but that's what you're looking into.
And soon after the space, I think there was a drop in the market.
And so the position I had opened with DTA kept its value,
but the perps itself were massively in profit as a result of that drop.
So I closed the position with an instant 60 bucks of profit or something,
which was pretty nice.
And then the leverage looping position
is going strong,
but I think it's like a slower yield position.
It's a, yeah, 16% APY
on my DNTRN and TURN leverage looping position
that I took on Super Looper.
So yeah, so far, so good.
Nice, yeah, those are two great strategies.
I also have one going for Adam
and one going for Tia for the Delta Neutral.
I try not to check them every day
because sometimes the funding rate goes against you,
but overall it does work with you.
Yeah, that makes sense.
It seems like right now the funding rates for everything
but Repstate Heath are not amazing actually.
But a basis trade on ETH is maybe not the worst idea to be fair.
I held onto my ETH for the last few years,
and that was maybe not the best portfolio management decision I've made so far.
So I'm trying to pull up someone, but it seems like they're having an error.
I will pin an announcement that Karice made about a new project she's been working on,
and I wanted to see if she would come up and speak about it.
So let's give her a second to sort that out before she comes up.
I'm now scouring the feed.
Hey, hey. Yo. It was using the wrong microphone again, of course.
Hey, welcome, welcome.
Thank you for having me.
Thank you for having me. This project that Dino mentioned is very devy.
It is kind of an SDK, at least that's what I call it.
Another reason why this thing is interesting is when I started my journey into the cosmos,
the first thing that I learned was pretty much smart contracts.
But it turns out, at least if you ask me,
smart contracts are not terribly difficult.
What I found more difficult was,
how the heck do I connect the browser to my smart contracts?
And you might also know that I'm a member of the Lion DAO. I help the DAO out in
all sorts of things on different chains and this and that. And my special challenge over these last
years was always, it is incredibly difficult, or rather, for every single chain out there,
I need a new library. I need to learn this library.
I need to see how I can use it to do my automation across the different chains.
So we were active or are active on Terra, Osmosis, Kojira.
We certainly will be active on Neutron as well.
So that alone already makes four chains, four libraries that i have to install and learn to use
um there's also injective which is very different from everything else and i ran so many issues with
that um so in the end over these past years I kind of was passively
on the side working on
this thing that I called Apophis SDK
Apophis if you don't know
was or is a meteor
that came very close to
Earth a couple of years ago and was
possibly
projected to impact
with the Earth
sounds reassuring projected to impact with the earth.
Sounds reassuring.
How does this tie into it?
I'm waiting for it.
Because Apophis kind of popped up out of nowhere.
And, well, I decided to build this thing on stealth and now it's popping up out of nowhere.
There we go.
So the cool thing about this SDK is,
let me lead on with an analogy.
Right now, in order to use, for example, CosmJS,
you essentially need to know how blockchains, like Cosmos SDK blockchains
work. You need to know how their structures, encoding and all that stuff. It's basically like
learning to write an entire operating system just to write an application, a desktop application.
And that is kind of the issue that I had.
Like, I started looking into how I connect my smart contracts to my browser dApps.
And I just went, what the fuck is this? so yeah I kind of wrote
Apophis to be
a more universal
solution
alternative to CosmJS
that
needs just some
one package to integrate in your chain
for example Neutron is probably the next patch
that I'm going to work on for it,
which will include things like the protobuf
and amino messages for the cron module,
duality, and all that stuff.
So it's a matter of just three lines of code
and you can integrate the new messages,
like just use them in your dApp and stuff.
Yeah.
Go for it, Ty.
I was just going to say, does this make it easier to build apps
that are going to cross-communicate, like native to Neutron,
but will cross-communicate with other chains,
in addition to just people that are trying to build an app
on Neutron that maybe only uses different packages on Neutron?
Yeah.
You can, of course, use it for just one chain.
But it is, for my own use case, natively built
to support pretty much any chain.
It just needs an appropriate
integration. And right now it only supports Cosmos or the baseline Cosmos. But the whole
idea is, I mean, every single DAP that I've built so far, which unfortunately is not that
much or my own DAP project, is built to be multi-chain. It's built to be, it can kind of infer which chain
you're currently looking at and stuff. So you click a button and it already changed
the chain in the background and it adjusts everything accordingly. So I personally want dApps that are smart enough to infer things like that.
Like for example, I'm looking at an NFT on a marketplace, but the NFT is a Cosmos Hub NFT.
Since I know, or since the dApp knows that I'm looking at a Cosmos NFT,
it changes in the background the chain that is currently active.
And whenever I make a transaction, I don't have to do anything.
No additional buttons, presses, or something.
That's really cool.
That sounds like a great UX improvement.
Deployment, have you ever had the chance of playing with Apophis so far?
Anything to report?
Or are you interested in playing around with it?
I, truthfully, haven't heard of it prior to right now.
Well, there you go.
I live in a hole 95% of the time.
I don't see what's going on.
And they call it Canada.
So by the sound of it, what does that inspire you?
Are you excited to check it out?
Does it sound like, meh, not something that you would need?
What's your take?
Interest in getting some input from more tech-heavy folks than myself because like to
me that sounds pretty good but at the same time i'm also not going to be the ones building the
apps with it yeah i mean i'll take a look um generally my and this is ultimately why i've
always tested on mainnet in the past and stuff um generally if something is going to take
me if there's like a learning curve or something that's
going to slow me down before i can onboard to trying it generally i'll stay away from it but
i'll take a look at it like maybe the initial ramp up might take some time but then after that i can
replicate it for everything and maybe it accelerates everything else I do. So hard to say without actually diving in
and giving it a try.
Let me put it this way.
I built this thing because I am lazy.
I am very freaking lazy.
And I built it to make it as easy as possible
for me to interface with a different blockchain.
So if you think there is
friction then that is really just motivation for me to make it better yeah I mean on my side I'm
also primarily only dealing with the neutron side so there's not multiple other chains I have to
juggle so maybe in that regard it's it's a lot easier and a lot better to use
i can't even there's the stupid spaces with all these pinned messages i see there's like seven
or eight of them i can't even scroll it's all broken so i can't even find this um all the way
in the left oh here it is okay i will take a look.
My hope is also that given, if you know the term MCP for agents, AI agents. Given a server like that, that it would be able or possible for AI agents to efficiently use this thing and hopefully
further simplify and make more robust development of
vibe-coded bots like the one that Clyde presented.
Yeah, I'm super bullish on that like if we can uh if we can make them like really really really easy for people to spin out like i want to see bots on like duality i want to see bots on like
on mars and on other markets and stuff like i want to see a bunch of art going like left and
right and people like trying out new trading experiences and strategies
and stuff like on the order book and on the purse markets and stuff um on even on the nft
marketplaces and such like can you uh can you market make nfts like that's that's an interesting
challenge um oh totally like on stargaze i'm pretty sure there are bots that have collection
offers a certain amount below the floor.
And then whenever they execute, they just list them on the floor again.
That's about waiting to be made on Superbolt.
Yeah, that sounds like a pretty decent base business, right?
It's like you're taking a spread, right?
Oh, you're willing to sell.
You want liquidity right now. Nobody's buying or buying or selling well i'll provide you that service
um i'll sell like slightly below the floor um right like and the difference is is my profit
and then i'll once i buy buy your nft when i said buy you out i will then list it again at the floor
and if somebody buys it from me then i made made a profit. That makes a lot of sense.
That's pretty cool, actually.
I might just end up like viticoding this later today.
Well, thank you, Cruz, for coming up and telling us about Apophis.
I hope I said it right.
And I'm interested to see how people start using it
on Neutron and interacting with other chains
or making it easier to build apps around Neutron.
So as we kind of get down to the end of the hour,
I always want to give a chance to anyone in the audience
to come up and ask some questions or comments
or just say hello. If anything has interested you in the audience to come up and ask some questions or comments or just say hello.
If anything has interested you in the past hour, feel free to raise a hand and we'll bring you up.
And while we're waiting for people to comment, then I will just give a few kind of last minute minute comments which is one every wednesday in the neutron discord at 2 p.m utc i run a defi ama and so this is just like intro to defi or even advanced defi if you have any questions about
about defi or strategy on neutron and even beyond I am happy to talk about it with you. I share my screen
and we like go live together through different applications on Neutron. Last
week we even opened up a couple bull versus bear trades and next week we'll
see how they did. Another thing I wanted to touch on is some of the
AshReport rewards have cycled around and I spotted two pretty juicy APRs.
If you're interested in farming the Ethereum USDC pool, that's got pretty low liquidity right now, but it is 85% APR.
And the TIA USDC pool is also about 70% APR.
So if you're interested in those pools on Ash Report, it might be worth checking out.
And another thing is tomorrow, a pretty important governance proposal from Mars. It should be being
executed. And it seems like Bitcoin as collateral will be coming to Mars. And so I'm going to assume the caps will be small
because there's not a ton of Bitcoin liquidity
on Neutron right now.
But if you're interested in using Bitcoin as collateral,
I would definitely try and stay glued to the screen
and get in there as quick as possible.
That should be tomorrow.
So yeah, that's what I got for announcements.
Oh, and one more thing thing i know we talked about the
quarks earlier in the call they are doing a gator bounty to quark holders right now and today is the
deadline if you go to their discord verify that you're a holder you have access to their bounty
which is writing a thread on superbolt try and get more eyes on the minting platform, which just launched. And if you win, you have a chance to win a free quark
and even some cash prizes. So those are my announcements for today. If anyone else wants
to speak, anyone that didn't have a chance to say any comments, please feel free.
That sounds great. A bunch of yield opportunities for us to check out.
Thanks for the reminder, Dino.
I'll hop off now.
Gotta go back to the call routine today.
It was great to check in.
Thanks for hopping on Curiousay and 5 and everyone.
I appreciate it.
Joe, I appreciate your time tremendously.
Take care and we'll talk soon.
Stay integrated.
Thanks for coming, everyone.
We'll see you next week.
