Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
Neutron: Nonstop Shipping
Recorded: Aug. 28, 2025 Duration: 1:00:00Space Recording
Full Transcription
Thank you. Thank you. Hello, hello, how's everyone doing?
Can you hear me? Thank you. So while people start to kind of pile in here, I'm going gonna make sure our co-hosts and speakers have the right to speak and also pin some of the announcements up in
the nest but just welcome thanks everyone for being here today it's a
few minutes past the hour let's wait another minute for other people to join
I'm already seeing lots of ducks, cutes, quarks in the audience. Awesome. Thank you. Looks like our co-host Pantera is having some mic issues, so let's just be patient, and
I hope he can figure those out soon.
And if he doesn't, we'll just have to start without him.
I think we have quite the panel here today.
We can probably, we can survive at least five minutes without Pantera Smith talking.
We'll try our best.
There'll be a, definitely be a hole in the panel though for now.
We'll get there yeah i mean we can just we can start a sad face from pantera um
pantera you can try just like doing it on your phone and not using a mic
won't be as clear but at least we'll have you.
So some of the things that we wanted to go over tonight, I mean, today, morning, evening, wherever you are in the world.
Thank you all for coming.
Really, like any of these items that I wanted to go over today could have and really deserve an entire dedicated space. But next week, we'll
have more things to talk about. And so we want to just at least briefly touch on all of these
announcements. I only pinned two in the nest so far, and I'll keep pinning the announcements as
we go. So feel free to bookmark those announcements and go back and read them in their entirety in the future
um and for now we'll hear from some of the the people and contributors to each of these announcements
so i mean yeah really like the the drop tokenomics was released the structured strategy for the max
btc was released um the bitcoin summer neutron campaign was campaign proposal was posted to the forums.
Spade released North Star version 2.
So if anyone had read the original back in March, it has been updated.
Our new documents have been published, and I have been hearing so many great things about people using them.
And then, of course, I want to do a little justice to the super vaults that were launched last week and how those are doing.
And last but not least, Amberfy has come out of stealth, and we have some of the contributors to talk about that.
And so that is the killer lineup.
Like I said, all of those things could really take a lot of time and questions from the community but we'll just go through some of them
a bit at a time so i mean clyde since since you're up here we could maybe start by talking about the
docs because those have now been live for a few weeks maybe that's the oldest piece of news that
we have here on the table yeah i'll be happy to get into it um hopefully maybe a couple people listening in right now
have had a chance to take a look at our new docs it's uh docs.neutron.org and uh yeah i'm pretty
proud of this one we we got we didn't have documentation on every single one of uh neutrons
modules before before this iteration and um yeah this was a good this was a beast to make i mean
neutron we we have a pretty sophisticated architecture without sounding like a hoity
toity about it like there's just a lot of modules that are working together to bring our chain uh
alive and what's really nice about about our new docs is that every single
module that comprises the new Trump binary is now properly documented and
there's a lot there's a number of features that you can that mintlify
which is the platform that the docs are actually created on offers so if you
guys ever got the chance to I mean I don't know if there's any perspective builders
in here, but one of my
favorite features is definitely the
Ask AI feature where
it's just a much
more effective way to
query the relevant bits of code
and documentation for whatever you're trying to build
as opposed to the previous.
Like a Gitbook search functions just don't
work nearly as well.
I've been really impressed.
I've worked with a lot of different,
I've made a number of custom GPTs and I've tried like this whole approach
of just copying and pasting like hundreds of lines of code
into a GPT chat or, you know,
even making a few MCP servers.
But the data retrieval that Mintlify uses
to search through all of the relevant code
and the content of the docs,
it's really impressive to me.
I've gotten some good feedback
from a few different builders on it uh
i'd really encourage anyone listening in to just go to docs.neutron.org poke around um i'm very
yeah any feedback as well is is more than welcome um there's a few things that you know it's kind of
the whole thing like once go live is kind of when the work gets started so i already have a backlog
of stuff that i have to that i have to do here but uh it's definitely coming together pretty nicely um and yeah i think uh past that where i'm also
putting together some more cosmoism learning resources we've had in neutron a number of
learning initiatives around cosmoism over the years and I finally got a got a page together to help
consolidate all those different learning initiatives and platforms that are out there
yeah we also you know it's it's not just technical documentation it's also full of
conceptual explanation around some of the underpinning ideas and philosophy behind
Neutron's technical architecture, things like what it means to be an opinionated blockchain,
integrated architecture, how we've approached governance up until now.
And yeah, honestly, the more people that use this, the happier it makes me.
And yeah, honestly, the more people that use this, the happier it makes me.
Past that, yeah, I think I'd be very curious to hear from the community or any prospective builders what they feel could be missing or what they like and don't like about the platform.
But as it stands, I'm pretty happy with how it turned out.
Yeah, I really like the core concepts part in the beginning.
And like we just talked about the integrated architecture, opinionated blockchains, like it's all very easy to read.
And if you don't have time to go and read category by category, then just searching in the chat in the AI has been super helpful.
Like I've even used it, you know, if maybe you're looking for a different way to word something or a quick reminder of um of a statistic or anything on neutron just boom like you used ai and like also where where
it's been placed you know it's if you go to the app app.neutron.org um you know that's now where
the super vaults tab is so i think a lot more people are going to use this app maybe checking
on their balance or checking the order book with their trading tab or um depositing into the super vaults and now you just like go down on that sidebar and the
documentation is right there so it's really it's really always at your fingertips you don't need
to go to another website to access it yeah yeah it's it's it feels good to see some traffic coming from the app
and toward the app.neutron.org.
Yeah, it's working well.
One other thing that I added was Mintlefy makes it really easy
to boot up an MCP server so that if any of you guys are maybe
vibe coding in Cursor or in other AI-integrated IDEs,
you can make it really easy to refer to the docs via a tool call
and just kind of have it, you know,
refer to the Neutron docs for this next operation.
It'll call the docs for reference for whatever you're getting up to.
And I'm also pretty excited because I'm in contact
and collaborating with Mintlify themselves to go over just some of the, I'm going to do this kind of AI in docs overview.
docs i tried to use ai where i could but at the end of the day um it was pretty limited to what
extent you can actually use ai in documentation because i mean look if you're doing a quick
change logs kind of like you know 10 bullet points it's not it's very easy but for me it
was really confronting to come to sort of the the not the event horizon but like to come to sort of the, the, not the event horizon, but like really come to discover the limits of LLMs right now.
And I think we're collectively, you know, waking up to the fact that AI as it stands and LLMs as they are just so far from perfect.
And for me, making these docs was very confronting with that.
Cause it's amazing how much LLMs will just completely make shit up.
Like it was, it was remarkable.
Like I did, I realized I just, I was going to have to do the bulk of it manually,
no matter what.
There's things you can do.
You can set up guardrails.
There's ways to approach it to make it more accurate
and a sustainable way to go about producing work.
But it was also kind of a wake
up call and making these docs like okay ai is not actually we're not agi is probably not coming this
year or the next or the next and i look i'm like a huge apropon if you look at my twitter page i
just like i've made a number of pieces on like how to do this and that with with uh with the
latest ai toolings
and development and everything.
But yeah, I'll be excited.
Keep an eye out for an upcoming video.
I'm just going into the details of how to actually,
what are the actual uses and what are the constraints
when it comes to using AI to write up docs for any of your code
or in your development workflow, really.
But yeah, it's usually
developers' least favorite part of coding
is having to explain what the
hell they did. So it'd be
nice if we could use AI for that.
And you can, but I'll go over
some of the limits soon and I'm
excited to make that for some of you guys.
Maybe a couple of builders in here.
Awesome.
Thank you, Clyde, for making those up.
I think I was personally very excited to see those refreshed,
and really it went completely beyond my expectations.
So it's been awesome to have that.
Thank you for sharing your experience on making them,
and of course encouraging if there are any builders here in the audience that want to see them improved or want new details on how to use them, Clyde is your go-to guy to check out.
not just for docs. If you, if anyone in here is interested in dabbling and, uh,
in building anything, like I I'm your guy. Um, what I've been really happy to see
are as a recent wave of builders that are not super technical in background,
but what these docs make it really easy to do is, is for, you know,
it's actually really lowers the barrier for vibe coders to come in and
experiment and try out a few things. And, you know, we have a testnet for a reason and like,
there's no harm. And it just like, I would encourage people who are, who've been in web
three to go and like, just discover what it's like to deploy a smart contract, you know, or just some of the basics of CosmWasm.
It's actually, it's really fun.
And this, our docs should make that super easy.
And I'm more than happy to sit down and chat with anyone
who's remotely interested in just getting their fingers wet.
I don't know if that's an expression.
That sounds weird.
But like getting their hands a little dirty with uh
with some with some web3 building basics so please don't don't be shy i'm more than happy to help out
i think it's getting your toes wet you know like dipping your toes in the pool
that sounds better yeah toes wet
but i'm pretty excited to hear from uh the other speakers we have here today linky link and
amber five which is i'm i'm so excited for for this uh for this to roll out i've i've had the
privilege of seeing the of seeing some of the beta versions of the new app that's coming and
damn it it looks uh it looks pretty sexy.
I'm not going to lie.
It's looking great.
So not to rush that topic, but I'm looking forward to hearing about that.
Yeah.
I mean, I'm looking forward to more leaks from Amberfy.
So yeah, if you guys want to come up, introduce yourselves, introduce Amberfy,
and maybe talk a bit about the inaugural announcement that you made about what is Amberfy.
Happy to do so. Hopefully everybody can hear me. I'm Linky Link. I am the protocol lead of AmbiFi and also of Mars Protocol. And yeah, we are happy to share some insights on
what we just released yesterday. So AmbiFi is or will be most likely the place that has the potential to have all the other bitcoin liquid staking derivatives out there
participate in the hopeful high success of max btc so um how does amber tries to achieve that is pretty simple. liquid staking derivatives like lombard btc or etherfy ebtc and others to um
to get real yield on their current um btc lsts just by depositing into ember and um
we try to come up with a strategy that allows users to not only increase their max btc exposure the current max BTC collateral,
but we also try to, or we created a place
where current BTC LSTs are able to generate
native yields on their current LSTs.
So pretty exciting stuff.
And I'm happy to go into detail.
But yeah, I think I leave something for you also for questions.
How did we get to Amberify, actually?
I'm kind of curious about.
How did the Amber name come about?
That's a good question.
We actually, like, ever since I took over at Mars Protocol,
I really love the idea of having the whole team have an impact on what we do and have a saying
and what direction we stare from now on so what we did when we had the idea of an outpost um in
the very first uh iteration it was a mars outpost that we wanted to call bitcoin mars outpost or something lame like that
and i said in the group chat of our contributors that everyone can pick like two or three
protocol names and we will have a internal vote and whoever wins the vote uh gets a day off, like it's a longer weekend.
And then we had some very creative entries, but what I love about the idea of amber, is a crystalline structure that emerges from resin or sap,
like wherever you're from in the world,
you call it differently,
but it turns something liquid into something solid
and very valuable.
So we have liquid staking BTC tokens
and we turn it into, like our claim says, solid yields.
So it's liquid staking with solid yields.
And that's why Ember stood out and won the poll.
I like it.
I didn't realize, you know, I didn't get it until you just explained it.
That's great.
Are you going to tell us who won the day off?
I mean, and come on, no one really gets a day off in Kripp yet.
Yeah, I can.
It was one of our emerging junior front end devs.
So well deserved, to be honest.
None of the OGs were able to win this poll.
So yeah. You can try it. honest. None of the OGs were able to win this poll.
You can try it.
The guys behind
the great design of
the landing page of Amber
landing page and
also the docs page
in a way.
Really well deserved.
I would say in addition to what link is said so like just
like i'm sandro um also doing comms community for amber um in parallel to mars like most of you know
me like from the mars side um also i mean linky also already mentioned I think it's really important to yeah make people understand
the Mars connection right so it's like Mars contributors in the back like all the like
hopefully there will be like some decent revenue or hopefully we see some decent TVL sets uh maybe we can talk a little bit in depth later on but yeah all revenue will flow
to mars protocol foundation which is in charge of like mars protocol like steering the mars protocol
so it's uh like super beneficial for the whole neutron mars ecosystem so this really relation is like super important to understand right so
everything floats back into the ecosystem and yeah Amber itself will be just like seriously
like the best place great place like for your we have like a different term than Bitcoin LSDs. I mean, it's not like real LSD,
but I get that most people understand.
Like if you say that like WBTC, I mean, it's a rep token,
but if you say like Bitcoin LSD, they get what you mean.
We came up with like a term like BRT, like Bitcoin related token.
Let's see if you can manifest that term um so we will like
just be like deep place to deposit your brt um and then if you are like more risk adverse you can
loop it like up to 10x i think that will be the maximum so um pretty decent leverage and also
the maximum so um pretty decent leverage and also the go-to spot for brt swapping which is
like kind of big right so um i think we will we need to be live and also it's happily connected
with uh neutrons super walls right so in in the back um but yeah should be like the place to swap like one brt into another
brt also within size with a really good execution and this alone is like huge i think but uh
the looping part is like really the juicy part maybe some of you are already familiar with Mars protocols, HLS like high leverage strategies that can go up to, I think,
like something like around 7x for certain strategies.
Like one is like with the Atom or the other one is the NTRN,
but specifically like in the past weeks like the atom strategy was like
really popular because like uh yeah rates are like really in favor to to uh use that strategy it's
it's like yeah looping uh underneath the same mechanics so you deposit uh atom borrow atom against it and then loop it yeah however you want up to 7x
and the the same mechanic applies then for amber with like a different risk framework right so
uh Mars has like a really really solid uh risk framework. And for Amber, it's like,
there is no like risk framework in place.
Everything underneath is like Mars protocol contracts, right?
So it's heavily audited, like pretty safe.
But of course, whenever like high leverage is involved,
there are certain risks, but yeah,
we want to give like people the chance if they
want to take like really high risk up to 10x right so uh this will be like a really um great product
if you're into leverage and uh enjoy like just looping assets especially yeah like for for btc
Like for BTC, LSDs or BRTs, it's like a pretty unique thing.
And combine that like with, I think we will talk about this like later on, like max BTC, right?
So imagine like the underlying yield, like native yield is, I don't know, something something between five ten percent or maybe even higher
um but that's huge right if you leverage it and then if stuff like points come into play
um there aren't much information yet out but uh like in the amber dogs uh we have some some parts
but yeah just like teaser just for her for the understanding but there will be much more in
the coming uh like like two three weeks um and uh yeah it will be just like a great place uh
to loop uh the native field and everything which comes on top
sorry i'm talking too much so you always do we we're used to it yeah
but yeah uh to a tldr is maybe like with embo we enable all partner brts to participate
in and benefit from the max btc yield whatever it will be um since users are interested
BTC yield, whatever it will be.
Since users are interested in borrowing BRTs for max BTC exposure,
borrow demand will rise naturally.
And with rising borrow demand deposit AP wise will rise as well.
And that will yield native BRT yield.
So even if you're not into max BTC and you only hold Lombard BTC, it will most likely be the place where you not get your 0.32% yield on your LBTC, but you may get way higher native yield for your Lombard BTC, for example.
And that is the beauty of this flywheel.
So DGINs are actually bringing real yield to the current BTC LST space
or the BRT space, which is pretty exciting.
Yeah, I feel like that's always something that I come back to when
we're talking about Bitcoin DeFi, is that people are saying, okay, what are the risks? Like I've
been holding Bitcoin on mainnet for years, and nothing will get me to bring it off mainnet.
It's like, that's fine. There will be people that will not accept the risk of taking their Bitcoin
out of cold storage on mainnet, and that's fine. But there be people that will not accept the risk of taking their Bitcoin out of cold storage on mainnet, and that's fine.
But there are people that maybe are willing to hold certain wrapped Bitcoin assets on different chains by looking at the risk-adjusted returns of that.
Maybe it's a certain amount of APR that's willing to take them off mainnet.
that's willing to take them off mainnet.
Maybe it's trust with certain projects or protocols
that will bring their Bitcoin off mainnet.
And so for what's being constructed in Bitcoin summer,
there's going to be incentives
for just holding wrapped Bitcoin.
That's been a protocol,
a project that's around for a long time.
So maybe that's what you trust.
And, you know, there'll be some yield for that.
Maybe, you know, but you're looking for more yield.
You're a bit more of a degen.
Maybe you trust Lombard or Max BTC, which is, yeah, 5 to 10% APR in testing.
That's what it's been achieving.
And then if you want even more yield on your Bitcoin, then you can participate in something
like the product that Amber Finance is offering, which is looping the yield of MaxBTC. So by
depositing MaxBTC and then you're borrowing any of the other Bitcoin related tokens in the background,
swapping for more MaxBTC and then using that as your exposure. And so potentially, you know, I don't know if it depends
on the difference between the borrow fees on the Bitcoin related tokens and the staking or not
taking the returns of max BTC. And so it could be something like, I don't know, maybe a delta 5%.
So 5% per loop times the 10 times leverage that you're allowed, then that could be potentially 50% APR on Bitcoin, which is crazy.
But yeah, of course, you incur a little bit more risk because you're doing a leverage mechanism.
People that are willing to go a little bit more leverage and a little bit more risky for their 50% APY are bringing the safer yield to the people that are just willing to lend Bitcoin related tokens.
And those people don't even have exposure to max BTC.
They're just lending like EtherFi Bitcoin or Lombard Bitcoin or the Bedrock Bitcoin, UniBTC.
or Lombard Bitcoin or the Bedrock Bitcoin, UniBTC,
lending those assets on Amberfire
could potentially get also really good returns,
very likely much, much higher
than what you're seeing on other platforms
because historically,
there's not very much borrowed demand for Bitcoin.
And so really, there's going to be something
for every type of Bitcoin holder in Bitcoin summer.
And really, like, every type of risk user, the risk averse, the risk on.
And there will be different kind of APRs for them to farm throughout the whole campaign.
And really Amberfy is central to that.
And really Amberify is central to that.
And you're not even sacrificing the points you would farm
by just holding Lombard BTC, for example,
because they, as a partner of the Bitcoin summer campaign,
agreed to just give the points also for users
who deposit into ember
and maybe that's some alpha but yeah like if you pay like already close attention to the
docs there is like multipliers mentioned so it's even better than that right so you get like sometimes I think like up to 4x is
the biggest multiplier like from the individual campaigns like Lombard or sold BTC yeah so if you
participating like in the BTC DeFi or summer campaign, you could earn a lot more than just on the original ones.
So pretty interesting.
Awesome.
Well, thank you, Linky and Sandra,
for coming up and explaining Ambrify, how it works, and kind of the debut.
Everyone should go ahead and follow Ambrify
for the most recent,
for all the newest announcements for them
when their UI goes live,
so you can have a chance to go play around on it.
It's really slick.
They gave me a chance to look at it.
Thanks for coming up.
Before they go,
and not to do the meme,
but UI win.
Do we have any timelines
on when we can actually,
the public can poke around in there?
Because, I mean, the last eye check, it seemed pretty close.
So I'm quite curious.
To be honest with you, like, the app with the logic
and everything else is already done.
else is already done.
since
we have a high dependency
on MaxBTC
and the SuperVaults
launching, we're currently
just waiting to
push the button.
So you're saying it's our fault.
Is that what you're saying?
Through the flower.
That's the German thing
German motivational talk
to make you
speed up a little bit
it's the art of turning
the when right
whenever you get asked
I don't know what you guys are talking about
when can we launch it?
Because last time I checked, you were pretty close.
Okay, yeah, I kind of set us up for a self-own there.
Yeah, that's fair.
But I think it'll be a big moment for the both of us for sure.
just getting word that our uh our our very own beloved avril spade himself is uh is in this
skull and might want to hop up and and chat a little bit on this point um dino did you want to
did you want to give spade speaker privileges if he's requested i see him in here i did i just
invited him to uh to see if
you wanted to speak about either the north star version 2 or the post that just hit the forums
about bitcoin summer i'd be i'd be pretty curious to hear the first hand from him he's got a those
are pretty big pieces and a big update on our direction there he is right now how are you doing
hey folks doing well how about you guys we're doing great
just grilling
Amberfi
on win Amberfi
Mexican shoot off
turn it around
on us
but you know
that's okay
that's been a good one
yeah it's like
unacceptable right
it's like they announced
like yesterday
and they haven't launched yet
like god damn it
unacceptable
personally I would never
do that
I don't think Neutron
would ever do that,
actually.
So, yeah.
But,
yeah,
maybe,
maybe we,
you would want to go over
the,
our newest North Star update
or the,
or the forum posts
and the governance,
both very exciting
internal to Neutron.
I'm sure it's our community as well.
Yeah, I mean, like, you know, as you might have seen,
there's a bunch in there, so, like, do you want to prompt me or something?
Like, what's, you know, I'm not sure what has been discussed already.
Maybe, you know, right around when I joined
was shortly after you posted the first North Star.
And how is it that we have a new one?
Maybe you can just focus on the delta between the two North Star docs.
Yeah, that's a really good question, actually, because it's not a new North Star.
The whole point of this article is like, in like in march i said like you know i came
out and i was like hey this is what i think should be our strategy and the latest post is not like oh
let's change it the latest post is just like hey it's been since march how have things you know
gone basically and so the tldr was like i think and especially you know in the interchain i think
there's like a lot of like there was this culture of just like
uh let's build something that we think is cool and kind of like bring it to market and see how
that goes right like just build it and and they will come and i think like you know we've seen
time and time and time again that that's not sufficient right like obviously you want to
build something that's like innovative and valuable and and cool but you also want to
make sure that like you're you're you're introducing it into a market that wants that product, that can benefit from it, and that you're doing so with some consideration for distribution.
And so the North Star was this realization that, okay, so Neutron, we've always had a very opinionated view of the market.
I think we've stayed clear of a lot of the bullshit of like bullshit trends that have like come and gone over the last like few years.
And we've been sort of like doubling down consistently on this like less sexy, but much
more, in my opinion, like valuable and useful thing that DeFi is, right? But it's one thing
to go after DeFi. You still have to have, you know, what is it that Neutron brings? And who
does it bring it to you? And that was kind of like the point of the Snorstar, right?
And my thesis, which is like something
that we sort of like developed together internally
with, you know, Elijah and other contributors,
was that, you know, it's very clear
that there is fundamental value
in like making more capital efficient primitives
because that is the primary thing that like participants in market and in financial markets optimize for, right?
If I'm trading, for example, you know, we had the Supervolts launch like very, very recently.
If I'm trying to buy or sell Bitcoin, it is very important to me that I'm doing so at the best
possible price, right? Like I don't want to leave money on the table just because I'm trading on
the wrong place, right? And so by, you know, innovating there and providing better primitives, we can add value to everyone's experiences. Right.
The second thing, and like this is kind of like related, is that, OK, so the primitives themselves and their quality matters, but it also matters which assets you're catering to.
Right. Historically, Neutron launched and so like catered to focus on like adam and tia and others for like interesting assets
but what we've seen is that these assets are like pretty large in terms of like you know market cap
but they are much less uh mature than so like the what you know people think of as the the majors
like ethereum bitcoin solana and these others who have like so like gone or at least started going
through this journey of financialization of becoming assets that people want to sort of like manage risk around generate
yield for and that kind of stuff right and so you know we had this thing where like we would
introduce like really valuable primitives and nobody would use them because nobody actually
wanted exposure to these assets and so you know we started um reworking that strategy and part of
that now our star was saying okay so we need to continue building fundamentally better primitives,
but we need to bring them to assets that people can,
you know, want to take exposure to like Bitcoin, right?
And so, you know, with that,
we started working on like stuff like MaxPTC
and like what would become the Bitcoin Summer campaign
and like, you know, thinking about like how does like,
you know, what are the trades that people do with these assets, like leverage looping and
basis trading and such? And how does our ecosystem kind of like compare with those trades? How can
we enable them? Right. And, you know, down the line that led to like, you know, Amber being
conceived and so like prepared and like some future strategies for like Mars perpetuals and
basis trading and stuff potentially like seeing the light of day.
But so yeah, TLDR, that initial post was like,
okay, let's think very strategically
about what Neutron excels at,
which is let's be very opinionated
about our infrastructure and use this
to build better primitives,
and about which segment of the market we target.
And the one that we decided to target
is like Bitcoin and other majors and particularly
Bitcoin yield bearing Bitcoin. And so like execute on that. And so it took us a while. And honestly,
you know, in hindsight, I wish we had been faster on some of these things. But it just turned out
to be like way more complicated and difficult to like build all of these primitives, coordinate
all these moving pieces. But we're now at a stage where, okay, like, you know,
we've been shipping kind of like, you know,
like heads down building basically for the last
like four or five months.
And a bunch of things is coming out of this now, right?
Like we had the Supervolts launching,
like Ember just got unveiled.
There's a bunch of like, you know,
ecosystem coordination that went through.
We have some of the largest partners
in the Bitcoin DeFi space that that are collaborating with this campaign.
All of the pieces are coming together.
MaxPTC got announced,
went out of stealth recently.
And so, yeah, hopefully if that thesis,
like TLDR, we had the idea in March.
We executed against the idea since then.
And now all of the pieces are in place.
And over the next few months, we'll see if, you know,
we were really right.
And if we were right, I think like, you know,
the Neutron ecosystem is going to like benefit
tremendously from that.
And so, yeah, it's a pretty exciting time.
Yeah, I don't want to put the, how does it go?
Put the cart before the horse here,
but it's definitely, I've been getting some great feedback
from other people in my network
that are peripheral to Neutron
that are kind of saying,
hey, guys, you're making moves.
You're seeing some wins.
And that's been really gratifying to see.
And I think that largely has to do
with the execution of our company
towards that North Star
that you first set in
March paid.
So I've been really happy to see that all come together just in the months
that I've joined.
It's been pretty exciting.
I mean,
I appreciate the kind words to be fair.
I don't like,
I don't want to take all of the credits.
I'm not,
I'm not giving you all the credit.
Don't get me wrong.
Okay.
All right.
Thank you. That's not me wrong. All right. Thank you.
There's a lot of people obviously in the team
and also just in the community
where I think the Neutron OGs and stuff have been
a very valuable...
Oh, yeah. It's absolutely a community...
By all means, it's been a community effort
and something we're working
toward together.
It was a dog that helped me orient myself very well in joining Neutron in March.
And it's cool to see that vision get executed on.
And it's been exciting.
But definitely, it's the same thing.
And just to be fully clear, I think Elijah particularly deserves some horn tooting.
I love tooting that guy's horn, yeah.
That's my favorite.
It's funny, yeah. That's my favorite. You can get plenty of that.
There's been a message, a question
relayed to us through the grapevine from
Trix about the 200 million soft commit total
value locked. Is this something, who are we asking this job?
Direct.
I mean, it says it right there in the North Star
that 200 million soft commitments have been added.
That's right.
I mean, I'll start with like a caveat
that like, you know, keyword soft commitment, that keyword soft commitment, it's one thing.
TLDR relates, we're pushing on all fronts on the BD side to attract LPs and larger users
and customers to the ecosystem, which is something that I think is really critical to enabling
the ecosystem to grow. And there has been a lot of demand for opportunities to earn yield on Bitcoin,
and especially in sustainable and scalable ways.
So we've had some success there.
But keep it, I think it's exciting,
but let's take it with a grain of salt in the sense of
we will know whether or not these guys will come through
once they actually deposited.
But yeah, it's encouraging, right?
Like there's a lot of like larger Bitcoin holders that are like interested in like these
kinds of opportunities.
And I think because of the, like the fundamental innovation that we've put together, right?
So like, like Max BTC as a product and strategy and like Supervolts and what they allow in
terms of like liquidity
and like, you know, like leverage capacity and Amber, all of these things kind of like
are designed to make these opportunities as appealing as possible.
And that allows us to overall, you know, have a compelling package, I guess, like a compelling
offer for the, you know, the LPs in the industry more broadly.
Yeah, absolutely.
I mean, you're right.
It says there's soft commitments.
It's just nice.
Like if you go to DeFi Llama and you look at the TVL of Neutron, it's less than 50,000.
And then you see 200 million in soft commitments.
And the thought of quadrupling it essentially overnight is a wonderful idea.
And of course, it doesn't end there. The TVL of some of our partners that are issuing Bitcoin,
that lots of the currently Bitcoin that's available in DeFi
that is being issued by these partners
is certainly ready to be deposited into part of this Bitcoin summer campaign.
And so it's not just those LPs that are interested in the program.
No, exactly.
I think the long-term potential of this is absolutely humongous.
But once again, a quick grain of salt.
If you've read the proposal on the forum,
you'll see that we moved from a more concentrated,
but also more risky for the Neutron DAO campaign setup
to something that's way more long-term oriented, if that makes sense. And so we'll see that, so like this adoption gradually increase,
right? Like the, each epoch should be bigger than the previous one. And this is not just a question
of like, you know, budgeting and whatever. It's also a question of like, you know, we're playing
with large amounts of funds. We're playing with like sophisticated kind of like financial
mechanisms. We want to make sure that like we battle testing things and the parametrization, the configuration
of all of these primitives as we release them and put more and more funds in them, if that
makes sense, rather than just trust me, bro, put a billion dollars in it, and then it breaks.
So we take security seriously, both in terms of
like technical security, as well as just like doing things, you know, with the right pace and
the right order in order to make sure that like we're maximizing. So like the confidence that
users can have into these primitives as they sort of like approach them, if that makes sense.
All I heard was, trust me, bro, I'm all in. Let's go.
Yeah, I mean, and like like you said like speaking of these
primitives that it's clear there's starting to be market demand for you know we can touch back on the
the super vaults launch that happened last week and they launched with five different vaults and
two of them are already over capped and a third the neutron usdc pool is very nearly at cap and so this is just again
proving and these all filled up within a week the tpl has has essentially hit the cap so these
vaults are clearly working and it's not just they hit cap and they're like idling you can look at
the daily volume that is being pushed through these vaults and they're increasing
as the TVL is increasing and that's exactly what you want to see as as the vaults um as more people
deposit into the vaults more and more trades can be executed through them more and more swap fees
are going into the LPers and um you know it's um yeah, returning the fees back to the LP providers and also providing traders with excellent swaps.
So, like you said, the primitives that are being created here are showing their strength, showing their demand.
And that's what we want to see.
Yeah, I think one of the, like, really interesting and linky, like, you'll be able'll be able to, so I'm speaking under your control here, but from what I understood, as these supervolts have started scaling now, we've seen basically execution for leverage looping and HLS strategies on Mars really improve.
And as a result of this, I believe we've seen an uptick in these positions. Is that correct?
That is correct, yes.
Yeah, and I think that's a really exciting point because it's like, you know, there's...
I'll be simplifying and summarizing here, but there's multiple ways that these things
can scale, right? Obviously, there's the supply, which is the liquidity that is in the vaults.
In order for the APRs and for the you know, for the opportunities to remain appealing.
You need to match that with demand, with like volume going through the vaults.
Right. And there's generally speaking to kind of like rough sources of that volume.
There's like on the one hand, there's like aggregation and like basically every sources of volume that comes from outside of the neutron ecosystem.
And, you know, the first major source that the supervolts are able to service is like skip go.
I posted about how aggregation and routing is going to be a key mechanism
by which we can source additional volume for these volts
and service more volume, basically.
But what I think this reveals, this anecdote of the HLS activity
picking up is that by making opportunities on the network in the Neutron ecosystem more
appealing, more capital efficient, we are able to generate our own volume, our own order flow of,
you know, there are users here that have specific positions that see opportunities to make money
and are entering and exiting these positions.
And this itself means that the Neutron ecosystem is generating net new volume, demand for participating in DeFi and stuff.
And long term, this is a very critical thing to make the Neutron ecosystem really a powerhouse and a self-s of ecosystem, if that makes sense.
It's times like these when I want to say the word flywheel,
but I just hate saying that word now.
So I have to hold myself back.
Yeah. Just building useful shit,
I guess.
I'm having a quick look at like the,
you know,
folks in the audience,
lots of familiar faces,
obviously,
but also like a lot of new faces,
which I think is like really exciting.
you know,
welcome you all
hopefully we're not wasting your time and you're getting some nuggets of like of all five here
yeah i mean just a reminder oh yeah to anyone any any new faces and old in the spaces this is a
this is an open panel and if anyone has any questions or comments, you're more than welcome to request to speak and very,
very high chance that you'll get to give your two cents.
We've had a couple of trolls though in our day,
had a couple of trolls survived them,
but not too bad.
Yeah.
Or if you don't want to speak,
you can write in the comments of the space or also in the telegram or
discord.
We have eyes everywhere.
I know, right in the comments of the space or also in the telegram or discord we have eyes everywhere i know i know pantera is like just his vein is popping behind his muted
phone right now without being denied his chance to do his trump impression i know he wants it so bad
no smooth jazz for the ladies out there tonight
did he just unmute just for this?
Did I see him on mute?
Oh, he's just muting and unmuting.
Something's up with his mic.
Oh, well.
Rugged.
Eloned.
Or rugged.
Oh, well.
Oh, well.
I guess I'll hand it back to you, John.
Is that all that was on the agenda today?
Yeah, I mean, I see a request coming in right now, actually.
Let's bring Phil Do up on the stage.
I mean, I did pin, I think, a couple other things up to the Nest,
like the Drop just released their tokenomics article.
And yeah, other than that, that was really it.
Phil Do, what you got?
Hey, good morning.
I was just curious about, like, what the bridging situation will be for,
because there's going to be a lot of forms of BTC coming from various places.
Is there going to be, like, a concise, like, bridging solution for all this stuff?
Yeah, that's a great question, actually.
Pretty much all of the campaign denominations are bridged via Eureka. There's kind of like a few reasons for why that's the case. One is, you know, just IBC, generally speaking, is like deeply integrated into the Neutron stack. So like that's something that, you know, it's pretty quick to add the relevant assets and such.
And so that has unlocked a lot of the technical avenues and it provides a pretty end-to-end experience.
So if you deposit on a vault, for example, on the Ethereum side, boom, that'll get routed to Neutron.
And then if you go to the Neutron app and go to the bridge tab for example you'll be able to like go from Ethereum and like bring your assets
directly if you if you intend to. Yes and in addition Ember is also working on a
BTC focused a version of the Eureka bridge so just filter out every every other asset so that you just select what
you want to bridge and um it has like neutron pre-selected and stuff like that so we are i
can't promise that being launched uh on like day one but we are doing our best
okay cool so just to follow up, it would be direct bridging.
So if I use Eureka from another network,
it's not going to do a swap and then back
to the same form of VTC?
No, it's going to be whatever the nomination.
So let's say Solves VTC on Ethereum,
you just bridge that into Neutron.
OK, perfect. Awesome. Thank you.
Yeah, of course. Good question. Thank you.
All right. And with that, folks, I have a hard stop in three minutes.
So any additional questions or comments, I'm down.
But then I'll have to leave you all beautiful people, unfortunately.
I see a question from the audience.
Is Tabcoin the future of France?
And I think that's directed for you, Spade.
Is Tabcoin the future of France?
Does France have a future?
Yes. I think so. Coin the future of France. Does France have a future?
Yes.
I think so.
Look, I'm back in France right now,
so I'll do a survey and I'll report in the next space.
If that's it.
Yes, I think that's what the people want.
Do the baguettes want the tab?
I'm pretty sure yes.
Another question for Linky. What excites you the most about Amber?
I think what excites me the most is bringing all the potential that etc.phi has
into one place.
place. Yeah, bring utility to the current BRTs and also be the place to execute on BTCFi.
That's a great point. Like what you were saying about the different swaps on all the different
BRTs, really the success of this campaign means bringing all the different partners'
liquidity, token liquidity to Neutron
and being able to swap between them is going to be something that is not possible in other venues right now,
especially with the execution that SuperVault is offering.
Exactly.
Okay, well, if we don't have any other questions for tonight, we're at one minute to the hour.
Thank you to all the speakers, Spade, Clyde, Linky, Sandro, for coming up and sharing all the latest alpha this week and talking about some of the most recent announcements.
Really excited to see the Amorify UI and be able to show that to the world and I guess demo how to use it
and stay tuned.
You go to the forums,
you can read the most recent posts,
you can check out in the Nest
all the different announcements
that have been posted.
So the Ambrify, the Drop Tokenomics,
the new docs,
go to the app.neutron.org
and you can check out Super Vaults
and get into them them read about them
look at the statistics on each of the vaults look at the documentation down on the left side panel
and of course check out the medium blog for max pgc which just describes the strategy
um thank you all for coming and we will see you next week. Thanks for hosting, John.
Cheers.
Thanks for having us.
Cheers. Thank you.
