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NEUTRON NATION
Recorded: April 9, 2025 Duration: 0:59:39Space Recording
Short Summary
Exciting developments are on the horizon for Neutron as the team prepares for the launch of Mercury, a new project aimed at enhancing DeFi accessibility. With strategic partnerships and innovative token launches like MaxBTC, the ecosystem is poised for significant growth, despite the cautionary tales from past projects like Terra.
Full Transcription
Thank you. Miss. Nina, I'm going to invite you up to speak. Hey folks.
Good morning.
Hello, hello.
Nina, Spade, how's it going?
Great, how are you?
We're good. We're good here.
It's a nice sunny day.
My basil plant is growing out of control.
The spring is here.
Mercury launching tomorrow.
You joining the team. I mean, like, what? How can I complain?
Things are looking great.
Well, we have some chads in the audience. Sandra, thanks for coming. Cutes4719. Milos, awesome, awesome. Thank you everyone for coming for this warm welcome for Nina. And yeah, we can
just fire up space. So we'll be myself, Spade, and Nina, and Evan will be speaking today, Pantera
will be speaking today. And I guess the first question I have for Nina is, what have you been up to, and what got you first interested in Neutron?
What have I been up to? What do you mean? So many things.
Break it down for us, or maybe only the most interesting things or else or just what you want
to share okay so so is that like our life in neutrin specifically like what do you want
um i guess in the crypto world like for people just joining and they're like who is this person
maybe you can tell us a bit about your your crypto history and your journey absolutely um well i'm nina have been
here for like five years already um and by like by profession i'm an attorney and uh i was working
more in the human rights side um then i started to get much more interested, of course, more on the side, like as an investor and just like play with the technology and stuff.
I was very involved in Terra, in Terra ecosystem that did not work very well.
And then I just like joined full time like four years ago and I was doing more things like on the side of growth.
So a little bit of business development as well as marketing at a global scale in a way.
at a global scale in a way.
I'm also part and I've been like a contributor of Cosmoborys for like three years, four years already.
So since Medellin.
And yeah, that's kind of it.
Previously, I was working at Rome Protocol and I was the head of BD there.
And about Neutron, I mean, it's weird, you know, like you never know how you're going to get to know someone.
So I think that I actually met Spade like three years ago or something at an event in Austin because one of the guys of Apollo introduced us.
And we just, like, spoke briefly back then, but that was it.
And then when Zion decided to join the team, I was like, okay, now I'm interested.
Like, what are you guys building?
What is it that you're doing that you got Zion interested?
Because, of course, like he he was very
close to me um back in the tara days and i knew that he was like very picky with the projects
that he would work with uh so i knew that there was something uh with quality going on in in
neutron so i decided just to like check what is it. And then I met Mitya, of course,
like I don't think that anybody that gets to meet Mitya doesn't get bullish, to be honest.
And yeah, I think that was like something supernatural. Afterwards, they just decided to, like, come to New York for, like, a couple of onsites.
And then I saw the team.
I got to spend time with the team.
I met Elijah on the other side.
I was just, like, fascinated.
I was like, this team is so smart.
And they are building something completely impossible.
And I love how delusional they are.
And, yes, we should do that together
we're crazy yes it sounds like it sounds like after you met like some of the the uh chads on
the team you're really connected do you feel like that's how you really rate the teams or projects that you're interested in working with by getting to know the leads on the team and kind of picking their brain for how involved they are and what their visions are?
Yeah, definitely. I mean, one thing is like having in mind the vision of the project and seeing if that is compatible for you like with your own
principles and stuff and that was definitely something for me because they they wanted to
rebuild the DeFi in the way that we can actually do something for for people at the very end right
so it's going to be a series of steps but that that's going to bring us to bring DeFi to the people.
And that's why I joined at the very beginning.
Right. So so that was one thing, the vision.
But then you need a good team for that.
And it's not only like intellectually a bright team, but a team that is driven and a team that has ethics.
And I completely saw that in this team.
And I saw that they had a great team chemistry.
They were very open to get feedback all the time
and to improve whenever it was needed.
And they were leaders by themselves.
So I think that it was just easy for me to say,
okay, they could do it. Even,
even though they're a little bit Jalulu, uh, if there is someone that can do it, it's them.
Jalulu. Yes. Well, that's awesome. I mean, I think, uh, I think there are a lot of people
in this audience that appreciate your vote of confidence. Um. I mean, Spade, do you have any comments on that?
Nina just perhaps inflated your ego a little bit.
I don't know.
I think I was already delulu about it.
So maybe it was already inflated.
No, just kidding.
I think that resonates a lot, right?
I think that resonates a lot, right?
In the sense that, like, I think one of the important things
when you're trying to build a team and you set, you know,
an ambitious goal for the project itself is kind of like being able
to create that momentum, to create the conditions
by which you attract the top talent in the industry
so that you can maximize the chances that you have of delivering on that deluded vision, I guess. And it's good to see that
it seems that that's happening to some extent, right? Like, if anything, I'm very proud of,
like, the quality of people that are being attracted to Neutron's vision and Neutron's,
Neutron's vision and Neutron's team and project and such, if that makes sense.
like, team and project and such, if that makes sense.
Yeah, absolutely.
I mean, I think a lot of people in the room agree that for DeFi to make sense,
it needs to be the most compatible thing that anyone can pick up
from wherever you are in the world and with as little technology as possible.
And without being gatekept from some of the tools that are accessible to larger
organizations. It sounds like that's the vision that Nina is saying she was attracted to and I
think that's also a vision that we have here at Neutron. Pantera, do you have any comments on
kind of what you see in the vision, the vision for yourself or why,
what some of your core ideals are for crypto and if they have like,
what kind of overlap they have with neutrons visions.
Yeah, for sure. Can you guys hear me by the way? Yes.
Thumbs up if yes. Okay. Yeah. Yeah. You know, it's, it's a,
it's an interesting topic and I think you know, even myself and Clyde, who's on the call, and Spade, like, we were up working until about 3.30 last night, like, discussing sort of the long-term vision.
So I could just say, like, as a cultural thing around here, it's really it's really like uh i know it's like 24 7
like grinding uh you know there's the it's they run a tight ship and um but it's but it's good
because like there's uh the precedent was kind of set like on day one which is like you know this is
like uh um we're doing something very different here in our approach.
And it's going to be, it's not going to be easy.
So like we kind of need to like get our shit in order and it's, you know, do or die.
At least that's the feeling like internally, not to like doom post or anything.
But I definitely felt that sort of like emotion carry through in like the daily meetings and the tasks and the stuff that we're coming out with specifically, because I do think that they're like, they could leave an impact in the way that crypto moves.
You know, like there's so much bullshit in this space
and there's a lot of like derivatives of things
that were at one point like innovative.
And it's been a while that I've like come across something
that I was like, oh, this is very interesting.
And this is a novel concept that I think could make an impact on the way the industry goes from here.
And so that's really sort of the story that Zion told me when I first met with him.
And that's kind of what got me to jump on board so uh just to be able to like you know come to the on-site and see these guys in person
has has sort of reaffirmed that as well um and yeah yeah I it's it's like we I hate to like just
like be like oh like wait until you see what we're doing um but I don't know how much i'm at just at liberty to like leak the alpha because i'm
i'm the new guy anyway so uh don't worry spade here he's the master leaker
she's here for that it's it's both uh project culture and uh rite of passage actually so
uh so so please rampage on, maybe not Noiko,
but other stuff, go for it.
Yeah.
Yeah, I think it's been interesting to see,
like especially things like super vaults, which, you know,
the, so like when I first got into crypto,
the concept of like the user being able to just make a deposit into an AMM and just kind of have this liquidity go to work for you automatically and have this structure where like, oh, I just want to make an atomic swap, which is an old school term they used to use. Like that, that didn't really exist. Like the, the, the industry as a whole was like still trying to kind of figure out that. And,
and whenever Uniswap came out with it, and there was actually a, there was actually a protocol
before called Bancor that had like some weird kind of like janky version of, of an AMM before
like the Uniswap vision came to life.
But whenever Uniswap came out and it was like,
hey, you can just like deposit liquidity
and make a fee on the spread or whatever,
that became like a very interesting and new concept
that like became one of these foundational cornerstones
of DeFi.
And all of a sudden it was like, we don't need,
because you know, like an order book is,
you know, as far as like how much you want to call it decentralized, like you still need a market
maker to come in and, and figure things out for you. And so like, is that really decentralized?
And that was a huge issue that that got solved through the AMMs. But then over the years after
that, we started to see some of the issues with that model.
And so this interesting Super Vaults thing where, like, we were joking around.
It's kind of like, if anybody's a Dragon Ball Z fan on the call, it's kind of like Cell in his final form.
Where it's like the end game for AMMs.
It's like the end game for AMMs.
And it's very interesting to be able to use these in,
like stack these curves on top of each other
in a way where it becomes a place where you can do that,
that spot swap, like at an atomic level,
but you can also place limit orders
up and down the books as well. And so
it's just interesting. And I don't want to ramble entirely on everything and be schizo here,
because like I said, we're a little sleep deprived. We've been working all night.
But it's like everywhere I turn, I'm looking into things and I'm like, man, this is like, this is kind of like on the frontier, like even the mercury upgrade, some of the governance
aspects and like some of the, the thinking that Spade has put into like the proof of governance
and the way that it's going to work and the staking. Those are things that are, I think,
very interesting and still like a novel concept. It's, it we're not like ripping off anyone, but we're building something that's new and novel and works for DeFi and works like for this, for these particular like applications that we host now, but that we're also hoping to bring into our network.
host now, but that we're also hoping to bring into our network.
So everywhere I look, whether it's AMMs and the actual integrated applications or the
infrastructure, or whether it's the governance, or whether it's the consumer-facing products
that will eventually give real yield to some of the blue of the some of the blue chip like asset holders it seems like
we're on like the cutting edge of like creating that moment like amm's created with with uniswap
um so you know i've got my hands full with like what exactly i need to to do to to like create
content around all of it but it's it's a good problem to have for sure so yeah i'll get off
my uh i totally agree with you but uh i also think it kind of extends a little bit further than
this.
I think one of the other things that gets me really, really excited is the quality of
builders in the ecosystem.
We have, I think Mars, for example, is just an insane team and it's like such a great validation of like the the integrated thesis in the sense that
like the i you know if you you look at most of the ecosystems out there and you know and you
touched on this right but anytime there's a new evm chain right like just look at uni chain right
it's like okay roll up number 84 kind of like launches and it's all like you know forks of
uniswap forks of avi forks of you know whatever other protocol and it's all like, you know, forks of Guinness, well, forks of Aave, forks of, you know, whatever other protocol.
And it's like, you know, but they changed the color of the coin.
It's like, wow, how, how, you know, how innovative.
And then you look at Mars and like, you know, like rather than go to therapy,
they can like rebuild the entire, like, like model for like both lending and
borrowing and perps
and, you know, slapped a credit account
in the middle of this
and leveraged a bunch of like
the integrated infrastructure
and like this sort of like enshrined Oracle and such,
all of this to be able to like offer,
you know, new opportunities
and better properties to their users, right?
And I think like that's what I find
the most exciting in all of this, right? Like, you know, as a team, I think you's what I find the most exciting in all of this.
As a team, I think you're right.
We're trying to put thoughts and innovation and effort
into pushing the boundaries of the primitives that we make available.
But at the end of the day, what I think is most meaningful
is having really talented builders in the ecosystem
who take these primitives and then turn them into products that just like better than whatever you could find in the rest of the
industry and so like bring those benefits to users right we were i was on a call yesterday
discussing kind of like some of um some of that vision how to sort of like try and and explain it
and i think like you know neutron as a as a technology, right? It's kind of like a product for Builder,
and its purpose is to, like, empower Builders, right?
But not just for in isolation, right?
Like, the reason we empower Builder
is so that they can now deliver something
that will empower the users, right?
That there's kind of like this virtuous cycle of, like,
you know, we take on a lot of the burden
and the work and the efforts of, like,
designing better primitives
so that the Builders can take on the burden and efforts of, like, building better products so that the user, at the end of the burden and the work and the efforts of designing better primitives so that the builders can take on the burden
and efforts of building better products
so that the user at the end of the day
maximally benefit. We want to remove
all of the friction possible.
We want to make all of the opportunities
available.
That's kind of like
an ecosystem effort.
This kind of interesting flywheel or cycle
of trying to push the boundaries of like
how DeFi can serve the people.
If that makes sense.
Yeah.
Just to echo that sentiment, uh, in terms of how the ecosystem is serving itself
and also Pantera, your experience in joining and just noticing the, the
earnest nature of the team.
It's, it's also what made me most bullish because what you see in an ecosystem
and in a company like Neutron
where maybe there's not the most hype,
but everybody involved is here for pure earnestness
and is here because of true belief in what we're building.
And I don't think you see that all throughout crypto necessarily.
I mean, it's what drew me to crypto originally.
Like in TradFi, you see a lot of people just there to get paid, just there to kind of go
through the motions. But even within crypto, you know, if you look at certain spaces, I mean,
in Solana, there's a lot of people chasing bags and that's fine. People are entitled to that. But
what you see in our company and our ecosystem is so much, it's true earnestness. And that's
been really bullish for me also as a fellow new guy
to see within the first week that the people on board are really on board.
And I think that's what's going to give us,
I think that's why we're going to succeed really.
So I definitely appreciate all the sentiment, statements about our vision. And since a lot of people are talking about
how one of our goals is to change DeFi, bring it to make it more accessible, I want to bring this
and tie it into Mercury. And how is Mercury bringing us one step closer to that goal of
making DeFi more accessible to more people. Anyone want to jump in?
Something concrete that the user will notice.
I think there's multiple aspects to this, right?
I think one is making better applications available, right?
Pantera was talking about this moment where AMMs got invented and started on-chain.
And that was awesome because fundamentally what it did is it democratized the ability to market
make. Here's a role that you can now play in financial markets that just wasn't available
to you before. The problem of AMMs is that they didn't
democratize the profits from market making. And so like supervolts are meant to do that, right?
And so I think that's a very clear benefit and direct opportunity for users, right? That's
like pretty close in the future. I think there's kind of like another trend of this, which is also, you know, part of the work
that we're doing is to realize kind of like the inefficiencies that exist in the rest of the
industry. And those inefficiencies are things that you can solve, which adds value to these markets,
but also you can, you can solve for them and profit from that and package it into yield products
that are very accessible to users, if that makes sense.
Voldemort is exactly that, basically,
and it's a huge opportunity.
Now you can have your favorite orange coin
and you can earn a bunch of yield on it
and you can use it freely across DeFi.
It's composable, it's liquid and such.
I think that's really, really, really exciting as well.
Now as to Mercury itself, I think how that contributes is
when, you know, I think at the end of the day,
what we're trying to do is like challenging and ambitious and giving the network and its community like all of the tools it needs in order to be able to get there.
It's kind of like what Mercury is about, right?
It's like, okay, let's remove all of the dependencies and things that slow the project down.
Let's improve the reliability and the performance of the network such that all of the apps benefit.
And let's pave the way to be even more radical in innovation.
And I think one of the aspects of this is just the raw performance of the chain.
In financial systems, the latency of the system is really important. And so being able to really push the boundaries there
by radically innovating is very, very important.
And previously, there was already a bunch of things
that were accessible,
but the dependencies on the consumer chain module and such
meant that we couldn't really touch the consensus process.
We couldn't really touch that consensus process. We couldn't really
touch that part of the chain, let's say. Otherwise, we would break the relationships that was
providing security to the neutral network. And so by removing this dependency, now we have this
entire new segment of the chain that we can go in deep and rework entirely from the ground up in
order to best serve the ecosystem.
And this is why our objective is to get to 100 milliseconds by the end of the year.
And that requires these kind of very, very deep changes effectively.
And so, yeah, I mean, personally,
I think that's one of the more exciting things about Mercury.
It's like, okay, let's take the blockchain
and really, really, really optimize it from the ground up.
So, yeah, I think it's going to be a huge milestone for the project, right?
It's like becoming more sovereign, becoming fully focused on our mission.
Yeah, I think one of the things that i was personally excited about with mercury was the
increasing the ability to make like more complex blocks and the gas uh amount which is something
that we talked about last week uh with clad and but then like reading our community telegram more
and more it seemed like what people were most excited about is the the block speed and
the goal like you said is ambitious and it could make us like one of the fastest chains out there
and that's something that a lot of people enjoy a quick experience um so yeah excited to follow
that yeah i think we're pushing on the gas pedal in a few regards there so not only it's block
speed and then we get to increase in block complexity and then to tie it to the new sovereignty aspect
is that we can now move way more quickly
when it comes to upgrades,
when it comes to anything governance related.
It was a huge bottleneck previously
to just be completely on the hub's timing.
And everything governance related on the hub
is just notoriously bureaucratic even for crypto and it's just you know it's just right for running into issues
left and right and now that it's it really is a warp drive in that sense and now we can we can
move quickly we can add whatever we need to add to accelerate and then on top eat on rugs
tariffed
I just invited him
let's get him back up
mid sentence brutal
this is what happens when you don't bow down to America
exactly This is what happens when you don't bow down to America. Exactly.
Especially if you're in New York, you should have.
They're using AIs, LLMs, to analyze your speech.
And if you don't say, by the way, America is the greatest country every five sentences,
the greatest country every five sentences, then you whoop out of the space.
then you out of the space.
Then you lose 130% of your speech gets tariffed.
Hey, Nina, I wanted to ask you actually, because I know you're the big shot, like New York attorney, New York City.
You've shown us around and been our tour guide at times, but you're also said you spend some of your time like in Latin America and in Colombia and Medellin.
And I'm just curious, like, what are your thoughts on like the contrast between the crypto environment and like the adoption and like what players are making waves in both of those environments?
Sure.
So it's completely different, to be honest.
Yet I would say it's complementary
because when you go to Medellin, for example,
you get to use the technology. So here in New York, for example,
you build the technology. You see all the builders, you see the founders, you see the market makers,
you see the investors, hedge funds. So of course, like the volume that you see is huge.
The volume that you see is huge.
But if you go to Colombia, you are going to find a lot of the users and also investors and everything, but much in a lower way, you could say.
But you get to use the technology, which is amazing because you can pay for your coffee with crypto. You can go to
different cafes and there is like the Bitcoin people or the Solana people or just crypto people.
Like you can go to cafes all the time where you are going to always find people that are working
in crypto. And the use cases that you see there are much more applied to the needs of the people.
So like, for example, you're going to see projects of RWA that are tokenizing coffee.
So they actually kind of do things in an opposite way.
I felt that here we take a problem that is general that we see
and we just build like the infrastructure
and it start like from the top down.
There you see what is the problem specifically
that you are going to solve
and then you start building around that.
And that usually guarantees
that you are going to have many more users.
many more users. So it's completely different, really.
So it's completely different, really.
Do you think that a big part of that is just because of like, maybe us ignorant Americans
like take for granted sort of like the dollar as the reserve currency and it kind of like,
it just floats in the background? Like, like um inflation is like a it's like
such a foreign concept to like american kids unless you're i don't know some kind of like
schizo freak in economics as a child but like um it's it's something that you like take hugely
for granted that your currency can can buy less of the same thing tomorrow. And I'm just curious, is it more prevalent for someone that's a young professional
or maybe even younger to be very aware
as someone in these Latin American countries?
Like, hey, this currency could be debased
and you need to look into an alternative store of value?
Yeah, I mean, I think I even in my case, my mom was in finance
and she would teach me even since I was a kid, like, hey, you need to
you need to like take your allowance and try to like change it for dollars
and do things like that.
That's not a thing that you should know when you're 11, you know?
She was like, that's the easiest way that you could protect your money right now.
And she was right.
Absolutely.
Like, I think there was a moment where the Colombian peso was like 2,000.
It was like 2, 2000 pesos for one dollar.
And right now is like 4500 pesos for one dollar.
And of course, that fluctuates all the time.
Right. And and Colombia has a very good economy, which is the funny part.
Like if you go to Argentina, there is years that they've had more than 300%
in inflation. So like when you go to Argentina, you have to either pay in cash or something.
And for that, you have different people that will help you to get the money. And for one meal,
you have to pay. Oh my God, you look like an arco, you know, with just like a bunch of
bills trying to just pay for one meal. Like you have to take a whole bag of bills just to pay for
one meal. And you count and count money. And it's, yeah, it's a completely different reality. And I
think that once you have those problems and those are close to you, you definitely see the technology that you built in a very different way. And you kind of address it in a different way. Also, you will see that there, the governments are much more interested in working with you because it is a structural problem that they have in the country and that they want to resolve.
So like the ministries of technology and stuff,
they are much more willing to listen to crypto people
because, yeah, they might give us a solution, right?
So things are definitely different.
Yeah, it's a shame.
It's a problem that's probably going to be exacerbated here
with some of the tariffs just because, you know,
you see like some of the countries will just further debase their currency
just to keep exports like higher, right?
Make it cheaper for domestic labor and production.
So, yeah, we definitely as Americans,
just like the ignorant American
perspective is like, you just take it totally for granted that, you know, your dollars is good
enough to buy you. Uh, well at this, maybe, maybe over time you realize it a bit more, but you know,
as a kid, it's like, Oh yeah, you know, candy bar for a dollar, like that's never going to change.
So, um, it'll be interesting to see you know as as whatever
unfolds in the political sphere here uh a bunch of these people around the world are seeing their
currency be debased from they're being rugged from under their feet the rug is being pulled uh
maybe there's you know maybe there's an alternative out there i don't know maybe somebody invented it uh you know a little bit over a decade oh no
15 years ago now um so yeah interesting thoughts
yeah i think that's i i think that's interesting for like storing value i do think that like you
know orange coin has a long way to go for being an asset you can use really
day to day due to the fees and everything.
But I actually think it's a really exciting time for anyone who holds crypto or Bitcoin
because on the one hand, on a more macro scale, like we're definitely seeing kind of like some of the thesis of crypto
being kind of like, like playing out basically, right?
Like the governments today are either incompetent
or they're acting like very, very rashly on like,
you know, making arbitrary decisions and such.
And that has massive impact on like, you know,
millions of people around the world.
And so having the ability to access like forms of value that aren't subject to the decision making of you know one guy in a big
chair is like i think more valuable than ever really and just from an industry standpoint right
like it's very interesting to see that bitcoin has had this revival over the last year and some with
basically a lot of the people in the Bitcoin community were really concerned about the
security budget. Like, oh, we have to be able to deliver a lot of value to miners consistently if
we want to maintain the hash rate, but the emissions are decreasing, right? Like that's kind of like the feature of Bitcoin.
So where are we going to get that yield from, right?
Like some of it is like price appreciation, but we need to source like new forms of yield
in order to maintain the miner's ability to like basically, you know, invest a ton of
resources and burn them into mining basically.
And so, you know, you've had this conundrum, right?
And then projects like Babylon kind of came in with this idea of like,
oh, you can now stake your Bitcoins and like, you know, earn yield on them.
It still kind of like remains to be seen how much of that thesis
will actually play out in the sense of like how much, you know,
how many Bitcoin secured services will exist
and how much yield they'll generate for the underlying
Bitcoin. But I think what's really, really interesting is that for the first time in a
decade, really, it got a lot of new Bitcoin participants to start dabbling with the rest
of the industry, right? Because for a long, long time, I think there was this perception that like,
okay, Bitcoin is where it's happening and then the rest is all basically vaporware, right?
But it's not really like there's actually much more innovation
and valuable stuff being done outside of Bitcoin,
since the point of Bitcoin is that it doesn't change, right?
And so, like, that kind of created this shift of, like,
you know, billions of dollars, like,
and millions of Bitcoin holders kind of starting to dabble
into, like, what's possible on-chain for the first time. And a lot of that is kind of like currently propelled by things that
are really not sustainable, like points programs and such, right. And these incentives right now,
like in the coming weeks are actually like coming to an end. And so you have a bunch of Bitcoin holders
that started dabbling in it
and liked the additional yield,
but those yields are going to get right.
These guys are going to look for alternatives, right?
And I think that's like a huge opportunity
for Neutron and the ecosystem
to sort of like be the right place
for them to sort of like source
these more sustainable large-scale yields effectively.
Because as an ecosystem, we've been building all of the primitives, basically all of the
infrastructure, all of the protocols and the yield sources as well that they would need
to basically find a good home in a good place to park their Bitcoin, basically.
And I think over the next few weeks
and months, with the launch of Babylon and all these other projects, and with the launch of
I think Neutron has the ability, basically, I think it's well positioned to do a massive push
around Bitcoin and create very attractive opportunities for people. And what's unique
about it is that folks here in the audience probably have heard about
Voldemort, like MaxPTC.
And that gives us, this is basically a bazooka for neutral in the sense that you look at
the entire industry, nobody has a fucking way of making yields that is not like 0.2%
on Bitcoin, but we actually
fucking do.
And that yield is like, you know, currently the strategy is returning like 24% APR on
average over the last like four months, which is like an order of magnitude or two, like
more than whatever the competition is able to source for Bitcoin, right? And so that gives you an insane ability to basically like rally all of the Bitcoin holders
and Bitcoin projects that are looking for that yield to make it available to them
in like creative ways that involve DeFi, right?
Like, for example, like, hey, you know, I like the max BTC yield.
I want to maximize that, right?
So how about I use my max BTC as collateral, keep earning the max BTC yield, I want to maximize that, right? So how about I use my max BTC as collateral,
keep earning the max BTC yield,
borrow these Bitcoin wrappers and such,
and mint more max BTC and loop that, right?
And this is not like a new trade, right?
Like that's like five billions of dollars of TVL on Aave
between rep state ETH and ETH, right?
So it's already something that happens at scale in the industry.
But here it's like on steroids because the yield is way higher, right?
And so what it does is that because you now have all of this new demand
for borrowing these other versions of Bitcoin that are not yield-bearing,
the lending rates should increase.
They should sort of like trend towards the
APR of MaxBTC itself right and so you have this kind of convergence whereby
MaxBTC itself is like a unique super powerful product that's coming to Neutron
and it's going to benefit all of the other kind of like Bitcoin asset issuers and all of the other
kind of like derivatives and it's going to actually source like sustainable yields right
because like these lending yields that are like you know trending up as a result of this that's
a lasting thing it's not just like oh there's a bit of activity today and like we have fees today
no it's like that that supply is locked in now for like extended periods of time because these
positions tend to be long-term positions you're earning yield over like you know months and years
basically and so what's really interesting to me is that this is huge for the whales. Like,
there's a bunch of like larger players that are very, very interested in like these kinds of
positions. And so this means that as an ecosystem, we should be able to attract more sophisticated,
richer, wealthier participants, which help scale the ecosystem and create new opportunities for,
you know, people like you and me, basically.
And it creates a bunch of new opportunities for more sophisticated kind of like participants,
like more nimble participants to go in and kind of like see all of the opportunities, the arbitrage and stuff that might exist by the movement of these big players, basically,
basically and like profit from these opportunities right which is also which is also huge um and so
and like profit from these opportunities, right, which is also huge.
i think like yeah i think neutral is like in a very very strong position right now to be like
where it's where it really happens for like bitcoin and um and all of the activity that's
going to move around this in the coming months and um and i think that that's you know a huge
opportunity that as an ecosystem we need need to capitalize on, if that makes sense.
Yeah, I also think just it's super important that, you know, the handful of people we have on the call, I don't know, maybe slightly more than the next last week.
than the next last week our numbers are trending up but like keep this stuff secret don't don't
Our numbers are trending up, but like keep this stuff secret.
tell anyone because we want to be able to like we this is the in crowd right now uh this is early
this is like this is going to be the the club that is going to be like the most exclusive in all of
crypto and and you'll be able to look back on this and say like hey remember when there was only
you know 14 people or whatever we got 30
people in this chat and it was like you could have a one-on-one with you know the the the famous spade
or the the lovely nina uh so the more people that come into this like the more noise we're gonna get
and uh you know we want to we want to keep it like nice and cool and calm in here so don't
say anything to anyone please uh hopefully we didn't record this or broadcast this anywhere yeah yeah actually let me let me be very so here's the deal you
we're broadcast this broadcasting this in public right now but we're only very few to to actually
be listening so here's your alpha keep it secret but tldr there are billions of dollars of bitcoin
that are getting
released in the industry in the coming weeks and months, right? There's the Babylon launch,
the Lombard launch, there's a bunch of things that are moving behind the scenes, right?
We have this unique product called MaxBTC that they all fucking want, right? That is launching
on Neutron soon. We as an ecosystem need to do a massive campaign push
to ensure that as much of this Bitcoin
is going to end up on Neutron.
And we're very well positioned to do so.
So in the coming weeks,
like internally, we are working on building vaults.
And like basically, so it's codename Noeco.
We will find a good name.
If you guys have suggestions, we're taking for that campaign. But TLDR, we're going to, like, I think, I propose, and I will be making a proposal to the DAO, that we need to throw a bunch of resources at making sure that all of that Bitcoins end up, you know, on Mars, on Supervolts, on other opportunities in the ecosystem.
on other opportunities in the ecosystem.
And this is our shot at taking Neutron from, you know, $50 million of TVL today to a billion,
basically.
And we're going to take that shot and take it hard.
And for you as a user, this is insane opportunities because you get to be first on, you get to
know about these things in advance and prepare accordingly, basically.
There will be incentives, there will be points, there will be a bunch of Bitcoin and there will be a bunch of Bitcoin yields available as well.
So, you know, plan accordingly.
Awesome.
And here's the mandatory weekly leak, I guess.
Yes.
Yeah, I mean, everything you just mentioned is awesome and and one thing that always gets me excited is all the new defy with all the new assets we bring on chain there are
new defy strategies that open up um and something that mars has been working on i think is really
critical for making these defFi strategies more accessible to
people that are maybe not willing to be on their account 24-7 like waiting for
all the latest alpha and stuff and so we've just brought him up to share a
piece of alpha about something called copy trading vaults. Sandro, let's hear it.
Yeah for sure. I was just thinking when i was listening to spade um one thing which is also
like really exciting context of max btc and mars uh i mean at least i assume so uh is like high
leverage strategies right so he mentioned uh the btc like the overall performance over the past four months i mean it's uh on test
net but i think with like real btc right so like real data so like really really intriguing and
then imagine um to have the ability as you have it right now with um other like um drop assets
like high leverage strategies uh that would be a really good thing, so yeah.
Yeah, the other thing, copy trading walls,
it's getting really close.
So yeah, can, yeah, today speak the first time
about it a little bit more openly.
So we have now just like today opens like closed beta i would say like uh
closed testnet so just like a few people testing it right now have access to it so we'll be
collecting feedback i would say the ui is mostly done but needs a little bit more polish. So yeah, happy to see the feedback maybe end of the week.
And yeah, then I believe we want to test this
in like a bigger scale.
So we can roll it out to the overall community later on.
And then I would say like after a week or two testing
with successful results, yeah, we are ready to launch it
then and yeah will be a game changer also in this whole context of max btc right so in general
copy trading walls i think most of you are familiar with it but um the ones who aren't it's like a
really easy system to just follow people's trade on mars right and
this could mean a lot right so mars isn't just trading we have a lot of features so it could be
like really conservative stuff with with the money market or even just like a spot trading right but
of course it can be combined with perps and uh yeah when when BTC or Max BTC comes up as collateral,
it opens up a variation of new exciting things
you can do on Mars.
And yeah, really looking forward to what's
coming in the next couple of weeks and months.
That's awesome.
Yeah. What's the strategy you guys are most excited about actually?
What's your war plan?
For what exactly? You mean a strategy?
So what could be an interest?
Okay. Are you guys going to be managing vaults,
or is there a vault you...
or a strategy that you hope somebody will carry out, right?
Is there a basis trade you want to see?
Is there a leverage looping strategy you want to see?
Like, what are you excited about?
Well, yeah, I'm personally excited about to see as much community vaults as possible,
right?
So the delta neutral stuff would be certainly a thing I would love to see.
Personally I'm pretty certain there will be also some more like teaching things for the
community, right?
So that's like you follow a certain figure who wants to create or created a world uh you know
he has like a good trading performance and yeah he advertises well right so um but yeah i would
say like most mostly like automated delta neutral stuff is like really interesting because most people don't have the time or the knowledge
to do it by themselves and um this is like a really good thing and yeah almost automated
thing i mean it bears some risk right so you trust the the vault manager it's also like uh
your initial question like initially we we decided we we won't do walls um like from mars uh perspective
right so not like official walls so there will be only community walls like for for several reasons
right so um we don't want to be in competition with with community um like good strategies can
be made by anyone right so and we want to leave that field open could
change in the future but like for the launch we want to have it like fully in the hands of the
community so anyone think it will cost like a couple of bucks I'm not 100% sure, like something between like maybe like 50, let's say 50 bucks up to 100 bucks
to create the vaults just to also to await spamming. We could discuss about this. But yeah,
then it's up to the community, right? So I would love to see like some serious Delta neutral vault
like with USDC. And then I would love to see some sophisticated trading strategies
like where perps are involved.
So I would love to spot who's a really good perps trader
in Cosmos and then put a couple of hundred bucks or even more.
Let's see how it performs in the beginning.
But yeah, I would actually do something like that. or even more. Let's see how it performs in the beginning. My bet is on Rama.
If you look at Bullbear Analytics, there's an account there,
and I'm sure it's Rama, that has been just absolutely
rampaging through trades and such.
The strategy is getting better. You can see the P&L of the account
increasing and improving over time.
And so I'm like, okay, he's cooking something.
I will put my money there.
Especially if that becomes a copy trading vault on Mars.
I'm like, I'm all in.
Yeah, there's also opportunity for inverse copy trading.
So if someone could set the inverse
of a notoriously liquidated human,
like Deployed on.
Yep.
Okay, I will maybe have to split my portfolio
across these two strategies.
Both of them sounds very appealing.
Yeah, that's exactly it.
It's a funny thing. And I'm also looking forward maybe there are like
also some possibilities together like integration with bull and bear and stuff like that but that
would be awesome not sure yet right but um i would love to see it because like in bull and bear is
right now like really great for for just likeps trading right so and with copy trading walls uh maybe that they
find a way to integrate it but of course like copy trading walls involved as mentioned like
much more than just perps right so you can use the the full functionality as you have it right now
with your credit account so imagine the vault manager he can do what he right now does on mars
but instead of using his like yeah traditional credit account he just switched switches his
credit account to a vault credit account right so um yeah so i i really think like uh think we see a lot of creative stuff from the community and Rorma will be
one guy which should pay close attention to his trading performance, I would say.
Would be awesome to copy the leather board of Bull and Bear
into the copy trading walls, for example, stuff like that.
Yeah, that's so cool.
I just realized that we have literally five minutes left,
and we haven't covered a whole bunch of things,
because there's copy trading coming to Mars.
There's also, and I hope I can leak this.
If not, I apologize, but like the isolated credit accounts on Mars as well, which basically will make, you know, the leverage available to folks bull bear which is great for like the short prep
like the long short trading but also for like the clusters that are coming which is this
entire new kind of like primitive um and then you have like super bolt also that is like ramping up
for for for launch onboarding creators launching collections and stuff there's there's a bunch of
stuff to to talk about and we really kept it for the end here. Dino, what do you think?
What should we cover? I see that you just pinned the Superbolt's latest tweet up there.
Do you want to give us a note on this? Yep. I just wanted to say that they're getting closer.
Birds are telling me that they're getting closer and closer to Mainnet and potentially a closed
beta alpha testing is available now for some secret people. But I see them in the audience, so I definitely
wanted to shout them out. I pinned a tweet. It's a little bit old now, but it gets into some of
the background of why Superbolt is unique and kind of what their value prop is all about. So
it's pretty cool. Definitely recommend giving that thread a read. And they've also been collecting
some people, some artists who have been interested in making genesis collections on their launch pad
um some of those i also see in the audience we have a galactic quarks and also cutes
um and some talented artists are also in the um in the audience vera and five on it so
yeah i just wanted to give them a shout-out and I think people have been really excited
to see some more art coming to Neutron,
some more of their culture pieces being created
and helping us shape our identity moving forward.
So thank you guys for coming,
and I'm excited for that launch.
Fuck yes, running back.
It's going to be good to see the cutes home.
The most dedicated cult members of the cutes are staying.
Cool, well, we just have three minutes left,
and if any of the guests want to have any closing remarks,
please unmute yourself and speak.
Otherwise, if anyone from the audience has anything to say,
please request to speak, and then we can close it out shortly.
So basically, in conclusion, it's going to be magnificent.
You're all going to be tired of winning. It's going to be magnificent. You're all going to be tired of winning.
It's going to be so much winning.
You're going to say, please, sir, no more winning.
No more winning.
I'm tired.
My bags are growing too fast.
I contract my P&L.
Yeah, I think in other terms, there's a bunch of pieces that are falling into place right here.
Like, you know, Mars continues to ship some of the most advanced shit in this industry uh you can now take on like
you know granular positions and you can have like strategies that are automated and stuff by by by
prolific uh managers there's the super vaults coming and they're making the order book like
so much more efficient which also means less slipp slippage for Mars and every other use case in the ecosystem.
There's NFTs coming to the platform
and there's this big Bitcoin wave
that we're expecting very, very shortly.
The network is going faster.
It's more reliable.
It's more performant.
All of the pieces are basically falling into places.
So I'm tremendously excited
about what the coming months have in store for
us even if there's like you know a bunch of disturbances in the market i think like i think
this is this is the time for us basically so you know time to rally up and uh and and make it
together time to saddle up on your ostrich. Join the race. Oh, man, too many private jokes.
Or maybe that's Alpha, actually.
Look out for the ostriches.
The ostrich app incoming.
Awesome.
Confirmed.
Thank you, everyone, for coming.
Thank you for joining this week's Neutron Nation.
I hope you enjoyed the massive alpha leaks
from Spade as usual
and the hypes from everyone
on the team
thank you everyone
thanks again Nina for introducing yourself
and joining the team
super excited to be working with you
and we'll see you guys next week
cheers folks
bye guys Cheers, folks. Bye, guys. Thank you.
Host
Neutron 🔀
from
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