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Nibiru x Avalon Integration: Unlocking Bitcoin Backed Yield
Recorded: July 2, 2025 Duration: 0:53:39Space Recording
Short Summary
Nibiru Chain and Avalon Finance are set to revolutionize the DeFi landscape with the launch of a new blockchain hub that integrates Bitcoin-backed yield opportunities. With over $500 million in Bitcoin deposits and yields exceeding 30% through strategic partnerships, this collaboration aims to fill the liquidity gap in the Bitcoin ecosystem and provide users with sustainable earning options.
Full Transcription
Thank you. Hello, hello, can everybody hear me?
Yes, we can.
Sweet.
What's up, what's up, what's up? How's everyone doing?
Feeling very, very toasty. It's a hot one in Cannes.
Wow, wow, wow, wow. Did you just land or how long have you been out there?
It's the first day or second day?
I forgot how.
I think everyone's out there.
I got in on Sunday.
So I've been here for three, four days now.
Dude, how is it so far?
Good?
It's good.
A lot of DeFi stuff.
Pretty good events.
But definitely a bit tiring
from all the heat
we're missing you this year
I feel it man
I'm on APAC right now as well
and every day it's like 35 degrees Celsius
so I kind of get how you feel
I still haven't gotten used to this climate
yeah
I love Singapore but
that's what this is like year roundround and i'm like yeah i'm all
right all right well happy to meet everybody here let me know when we get started
i think jack is going to lead this one so i'll uh i'll let him take over
yeah thank you so much guys and yeah i think everywhere in the world is Let them take over.
Yeah, thank you so much, guys.
And, yeah, I think everywhere in the world is struggling with weather at the minute.
I'm in the UK, and, God, it's super warm here.
But good to hear you guys having a fun time.
Well, what I'll do is I'll play some music, just wait for a couple of listeners to find us,
and then we'll get this one cooking.
But thank you so much for everyone who's already found us and tuned in Thank you. Music Thank you. Oh, sometimes I get a good feeling, yeah.
Get a feeling that I never, never, never hated.
I get a good feeling, yeah.
Oh, sometimes I get a good feeling, yeah.
Get a feeling that I never, never lose with my heart.
Thank you. I'm going to go. well gm gm everybody welcome back to another banger show with nibiru chain the web free hub
ushering in the next era of money nibiru is a blockchain and smart contract hub with defi
rwas and more today we're here talking about nibiru and avalon's integration unlocking bitcoin-backed
yield and we've got the team here to discuss this one we've got gabe with us building sustainable
defi at nibiru chain and we've got coffee which is honestly like immediately after my own heart
here big coffee guy paternal natural avalon finance janitor Northeastern Alarm22 Slumlord. Yeah, look, all here for this
conversation. Going to be a good one. Bitcoin backed yield. I think the Bitcoin ecosystem,
Bitcoin DeFi or Bitcoin Fi, everything is absolutely blown up right now. And Nibiru
at the forefront of this with coffee and the Avalon team
so cannot wait to join in Gabe I'll get the mic over to you to start with how are you doing today
excited for the show doing good doing good uh like I mentioned earlier I'm in a can for ECC right now
um so boots on the ground talking to good amount of projects and uh, just taking up some of the heat, but excited to chat today.
Now, awesome. How hot is it over there?
Because I think it's only like 20 plus degrees here and I'm struggling in the UK.
How hot is it in Canes right now?
So in Fahrenheit, it's 90, but in Celsius, it's about 32.
Yeah, yeah, still very.
And in the sun, it is brutal.
I bet, I bet. Hope hope everyone's coping definitely hydrate um i've started literally bringing like um hydration
like pouches everywhere with me when i travel now like just get the electrolytes in early and just
like hope that my british foundations can survive and weather that they clearly weren't built for
um look we got coffee
with us as well i'll get the mic over to coffee one of the best names in the space how is it going
you excited for the show today yeah um i'm hyped up man i'm so excited to just you know talk more
about well you know i've been talking about avalon for a long time i've been with the team since day
one so me talking about i'm just going to keep regurgitating more and more about avalon about
what we're building and now you know finally being able to work with nibiru it's you
know it's a blessing i'm very excited to be able to be one of the part of the solution on making
bitcoin more of a productive asset absolutely and look honestly i think for most people who
came into the space bitcoin has a really special place in their heart.
And now seeing that come full circle and see it being built on is so, so cool to see.
So definitely cannot wait to dive in.
How about first we do a little introduction about the teams, about who you are, and then we'll dive into exactly what this conversation is going to be about today. For our listeners as well, if you are excited for the conversation, likes, retweets, all that good stuff to help us
blow up this show would be hugely appreciated. But Gabe, maybe just for you first, introduce
yourself and introduce Nibiru for our listeners today.
Yeah, absolutely. And again, great to chat. I'm Gabe. I'm part of our strategy and ops team. So I
work very closely with
our ecosystem partners avalon obviously being one of them um and then i work very closely on a lot
of our strategies so working on the structured products and sustainable yield is one of the uh
one of the things i work on in my day-to-day and then on the operations side i just make sure
everybody's getting paid that's the real sexy stuff but uh that's some background on me background on nibiru
for those who might be joining new today um nibiru is a multi-vm so essentially wasm and evm compatible
chain which allows developers no matter your expertise to bring your dApps over. We're integrated with layer zero.
So essentially, if we're essentially creating a multi-chain hub for different kinds of assets,
and then these types of assets that we're really focused on
is an ecosystem around revenue for dApps,
yield for users with organic traction,
i.e. essentially few artificial incentives,
and overall, cheap, fast, and easy to
use with, again, structured products and multi-VM focus. We just launched our EVM live to the public
last week, so I'm sure we'll be talking about that a bit more today, but excited to chat.
Look, great start, and yeah, love that. Look, I can see a lot of familiar faces already just from the
last show that we did together but absolutely love that we do just get to consistently touch
on the foundations and why we're here i think it's super super important especially because i
can't see new faces alongside some of those familiar ones coffee i would love to hear a
little bit more about what you guys are cooking up as well. And then we can start talking about this partnership in a bit more detail.
Yeah, so, you know, the hot topic, Bitcoin, right?
I feel like this has been a dormant conversation a long time ago and finally being activated, I think, more so last year in March, all the way till now, right?
We had the whole BTC era.
We had people building BTC layer twos, right? Just
everyone's talking and doing that. So Avalon here is also one of the many solutions tackling this
$2.1 trillion gap, right? And we are trying to help solve, like I said, BTC liquidity issues
through stable coin assets and just how can we make this a productive asset yet keep the upside, right? I think many of us are actively participating
in finding this, I guess, filling up this puzzle piece.
And Avalon's one of them.
Awesome stuff.
And Gabe, maybe throw the mic over to you first on this
and then we'll hear what Coffee has to say on it.
But tell me a little bit more about this partnership
between Nibiru and Avalon
and really what is in it for the users here.
Yeah, so I think the main thing, and I don't want to steal too much of Coffey's show,
so I'll just say the parts that are a bit more relevant to Nibiru
and then he can take over from talking about Avalon a bit more.
But essentially, we're really excited about Avalon.
Avalon and SUS more. But essentially, we're really excited about Avalon. Avalon and
SUSDA and their USDA stablecoin essentially are a CDP for Bitcoin. And so, again, I'll let him
talk about that. But the way that that really pans out on the Nibiru ecosystem is another way for
users to earn yield up to 10%. And so we're still figuring out exactly the structure for that.
But essentially, users will be able to access 10% yields on stablecoins with a really firm
backing of Bitcoin, like an over-collateralized backing of Bitcoin.
And we're going to be incorporating that into many different dApps, whether that's
Abracadabra for leverage, whether that's Layerbank for, you know, just posting it as collateral,
whether you want to swap it, you know,
it's nothing too sexy, but you can do that as well.
And then another application too
that I'll bring up a bit later as well,
but something that we're really excited for.
But yeah, I'll pass it over to Coffee for now.
Yeah, and I love the, look,
you have to stay tuned in to get all the alpha here
gabe obviously a spaces pro coffee yeah i would love to hear from you on the avalon side about
you know what you are bringing to nibiru but also what you are bringing for all users yeah i think
in the beginning is to understand look not all stable coins are created equal let's put it that
way first uh respect to everyone doing it.
But I think it's just like the challenging of what we're trying to solve here and how we're doing it is something that I want to zone in on, right?
So on Avalon here, we understand that, first off, not just user personas of the BTC holders, right?
But then security is a huge main concern.
And liquidity is always a problem.
And just being activating this, it takes a lot of head scratching and team power.
So Alvon here, we have combined not only institutional-grade liquidity,
we're also working with the right custodies and being able to all make it into...
The custody, what I mean by that is, imagine those BTC ETF custodians that you find,
those type of operational standards, and combining everything of this into DeFi
because of the yield opportunities and a lot of advantages that DeFi has that the C5 BTC
folks do not have, right?
And up to just a little bit of soft shilling, up to today, we had already secured over 500
million in BTC deposits.
It's backing 300 million of USDA, right?
And we're still growing.
So I'm very happy to have this opportunity
to be able to bring one of the most liquid BTC-backed stablecoins
over live to Nibiru chain.
And this is, yeah, so this is what we're basically solving
and how we're doing it is through a stablecoin.
Yeah, look, immediately some big numbers out there.
And I think a lot of solutions that people have been looking for when it does come to Bitcoin completely agree as well.
For security and for a lot of other vectors, like stable coins are not built equally.
We've seen that.
You know, we've seen that.
And unfortunately, some stable coins that don't exist today, some stable coins that literally cause like a little bit of chaos in the market to put it lightly and yeah i think
a big big questions now from listeners and of course users will be that security layer and and
who you are and who the team are so maybe we can start there can you tell us a little bit about
yourself the team and why avalon are here set to actually fix this problem and really bring a stable coin with bitcoin to the market
yeah so we are a very small team i would say in terms of operations and more on the front facing
side we're about about so let's say two three of us um and then the whole team has been together
for over i would say almost like two years already so we are i was part of the founding team too
so but in total adding up all the operations and coding and developers and all type of stuff I would say almost like two years already. So we are, I was part of the founding team too.
So, but in total, adding up all the operations and coding and developers and all type of stuff, it's about 10 to 12 people.
Everyone here wears multiple hats still on day.
Some days I am that typical, you know, I do BD work.
Other days I'm just like the janitor, I'm the social media guy, I'm the CM, whatever
it is that I need to be,'ll be that type of person um just to
you know fit into cracks or wherever that um avalan is missing at the time and yeah and sorry
what else questions that you ask i kind of blinked out i'm just like no no no of course like you're
definitely answering that question so don't worry about it at all but really just talking about who
you are and and who the team are and why you guys decided to you know tackle this you know it's a pretty freaking big challenge right like
usd stable coins bitcoin so we'd love to hear more about that yeah i think um look for this
it really comes down to the success of the of the i would say specific founders honestly with
venus and jay-z I wish they could have been here,
and I can't speak enough about them.
What I say is not enough to edify them in any way,
but I could tell you that both of them are the pioneers of this.
Jay-Z is the brain when it comes to the CTO.
This guy is quant background, one of the smartest kids on the block in New York.
He's too busy coding, so I'm sorry you guys get my face instead
and then you also Venus
Venus is really I would say a visionary for me
in terms of the team and why we all see this
for the last two years too as well
it's because of her in terms of how she sees
and wants to steer Avalon
they both come from the Tradified Network
one is a quant, one is actually a XP fund manager
so with their backgrounds
and their network we are're like, hey, you know what?
We are going to tackle these lending markets and we're going to solve lots of these today's problems tomorrow.
Tomorrow's problem today, actually.
And so both of them have been in RWA before.
That's one of their beginning backgrounds.
They actually did RWA stuff back in 2000, 2021.
And so they have a very strong leg to stand on.
And then Booker Queen around, they're like, you know what? stuff back in 2000, 2000, 21. And so they have a very strong legs to stand on.
And then Booker Queen around, they're like, you know what?
With such a background, such technical expertise, they're like, you know, we can do this.
So with both of them, the sharpest minds, we were able to bring on, you know, me and a couple other folks and grow from seven to 10 to 12 people.
So I'd say like with those two leading the show and also leading Avalon in the right
direction, all of us, the rest of us saw that vision and just want to be part of the journey and put in as much effort as we can do, be part of the solution somehow too.
Yeah, look, I'm always bullish on founders and like founding members of the team where they are really deep into it and like having support on those hats.
I think it's something that's special about the crypto space is it does have that startup like entrepreneurial spirit to it and you do have
teams producing honestly huge scale solutions but honestly with scrappy startup mentality and
look the idea of like people actually coding right now because they can't get on this show
that's going man that's going can you tell me a little bit about the actual concept and why
you created s usda and usda and specifically what role does it play in the avalon ecosystem
yeah um look let me first i don't want to get too techie here but i want to make this very clear
of the representation of this.
You could think of you on a technical, I would say, yeah, let's just put it in technical jargons, right?
USD is kind of this design of internal certificate bookkeeping, right?
It's to make sure the loans and collateral all remain balanced.
And for the best way of doing this and through our systems development, this certificate is made publicly visible through a stablecoin, as that shows transparency and usability, too.
So you can think of it as this stablecoin is a function of behind the scene accounting entry, right?
Just like this type of digital record is to track a loan to collateral.
At the same time, you realize you can use it in DeFi, too.
And so USDA and SUSDA, this is something that has even deeper meaning than just, oh, it's a stablecoin, right?
It actually is that kind of core piece of CDFI rails from CFI liquidity to DeFi, right?
And then this is the way to track balances.
And in the end, this is the way to track balances.
And more so, USDA is not backed by the actual asset of the loan, but actually it's backed by the BTC itself.
So even if USDA goes up to, no, it stays the way it is, right?
But if it depends in any way, that's not at risk.
It's the BTC that matters.
So that's something that I really wanted to talk about right off the bat.
It's a little bit techie, but all in all is accounting. accounting how do we make it visible what is the best way of doing so a stable coin is
the best way how can we make the stable coin useful and then through our yield bearing mechanism
because of avalon's revenue then it's like okay we juice the yield now how can we bring this to
the rest of the fi space look absolutely fascinating and look sometimes you have to get a little techie i'm sure the
audience will love it as well like look we're talking about bitcoin we're talking about stables
here like there's going to be an element where the blockchain and the tech that is involved in
it will have to be discussed and i'm a big fan of it but look i'm a bit nerdy when it comes to this
stuff can you explain a little bit more about avon and like how this stable is you know like basically
what role it plays with it within that ecosystem and looking at Avalon Labs here powering Bitcoin
on-chain capital markets tell me a little bit more about that yeah so look I also need to
again say that like this goes deep what we see on the surface is only a little bit of Avalon's ecosystem
underneath an architecture. The whole thing comes down to the Bitcoin itself. What are ways that
we can activate this Bitcoin? The only way to activate it is how can we figure out,
how can we bring a deep Bitcoin liquidity? And that's why we use FBTC. We work with FBTC, too. You can think of FBTC as this type of middle layer, right? Because they tokenize it, and they're bringing on-chain. There's a lot of liquidity of it. So with Bitcoin security model, Ethereum programming of finance, it just makes sense using them, right? And supporting Ignition, too.
And how do we bring this on-chain safely?
And that's where COBOL comes in.
And COBOL is that institutional grade service where MPC, TSS, all that type of stuff, right?
Words that I don't know what it means, but all I know is that it keeps my stuff safe, right?
And so with these two parts that all are underneath Avalon's hub, and that COBOL is the foundation level, then you've got the foundation, you've got a middleware.
Then you need something applicationware to top it all off.
And that's where Avalon comes in.
And Avalon's, okay, we're going to be that lending platform
where we accept the FBTC and be able to borrow what?
That USDA.
And that USDA is that accounting that I talked about, right?
The stablecoin.
It's just that the stablecoin has got to have more use, right?
And so we built the typical CDP methods, right?
And we want to expand more loopings and all that,
yet retain the BTC upside, right?
This type of relationship completes a whole value chain itself from Bitcoin custody to your generation.
So all in all, what I'm saying is users deposit BTC through Kobo's MPC that is backed, which backs the minting of FPTC through the TSS model that I talked about right and then it equity is deployed onto avalon's platforms of lending services that
fixed rate lending where these bitcoin lps institutional whales and folks that are hidden
in a sense be able to keep the upside of bitcoin exposure yet access liquidity through usda borrowing
yeah look i'm a big bitcoin guy and i think one of the biggest issues with being a big Bitcoin guy. And I think one of the biggest issues with being a big Bitcoin guy is you just
want to put as much of your net worth into it as possible. Unfortunately, I am not a big Bitcoin
guy in the world of I bought into it early or I hold a huge sum of it. So the liquidity layer
is really important to me because I don't want to give it up. I just want to keep stacking stats.
That's my only ambition in life at this point. But I do sometimes need to access liquidity,
funnily enough, because I do have expenses that still do need to be paid for in things that isn't
Bitcoin. So I'm a big, big fan of this. I think the next big question people have, and you have
already touched on it, which I really appreciate, is the security layer and obviously when we talk about security and we talk about stables we're definitely talking about
like de-pegging events etc so we'd love to know a little bit more from your side on exactly
how that works how you guys avoid that possibility and why users should trust usda or susda more than other stables that are available
yeah so this is the biggest thing every stable coin goes uh hits uh let's say this type of plateau
where they de-peg right um that because the value of their stable coin is just not it just gets sold
off for another and so with us we're able to because of we And so with us, we're able to, because of we are the C-Fi rails, we're able, we also have about 2 to 2.5 billion of C-Fi USDT credit.
So what that means is that mid-redemptions of USDT is slippage free.
And this, though, there does come with a caveat, and that is that this comes down to the KYC numbers, right?
The KYC is one-to-one, but of course, we still have the whole DEX liquidities and all that type of stuff,
and enough there as well.
However, if you KYC, that one-to-one is solid, is rock solid.
And this off-chain liquidity provider is super crucial for defending the peg here.
So when it comes to our unique stablecoin, peg is not the problem.
It's more so of how can we make this USDA,
SUSD, even more fun? How can we make it, well, people want to try more things, you know,
want to leverage more of it, right? And how do we create trust in it? So first off, any DPX events,
yes, there's sometimes people swap a little bit too much. We do have a Dune dashboard that shows
the every weekly swaps, right? We hit millions to tens of millions before already,
and we were able to maintain that peg certain times.
And we'll sometimes all defend anyway.
What I mean is that sometimes it will drop a little bit,
give it some time, our USDT provider will come in and re-inject USDT.
And so that's one aspect of it.
The other aspect is why should we trust it, right?
Trusting is because, well, we work as institutional-grade custodians, right? We work with this stuff. It's not like, oh, let me just put on Avalon and aspect of it. The other aspect is why should we trust it, right? Trusting is because, well, we work as institutional grade custodians, right?
We work with this stuff.
It's not like, oh, let me just put on Avalon and that's it.
What if Avalon runs?
Well, the thing is that it's not entirely on Avalon.
It's on the custodians that we have that have that reputation, right?
And that's why I talked about Kobo, the custody model, where these guys also work with, you
know, BTC ETFs and all that, and they're recognized, right?
And last of all, it's the liquidation side side of things we don't do full liquidation we
do partial of it so if the Bitcoin price falls falls and the vault becomes a
little bit under collateralized right there will be some liquidation to boost
the back out right we don't do full liquidation because we understand how
important it is we also margin call you too we'll let you know that you know
here's the here's how much you've been borrowing.
Here's the line that will get liquidated. We'll let you know a day or two a day in advance.
Like, hey, you should top up.
We understand the importance of the Bitcoin, and we also want to make sure that you guys keep it safely too as well.
So that's just upon safety, trust values, measurements defended, and also the DPEG part.
And last of all, I think, let me think, is there anything else?
I think mostly that USDA up to today, that hasn't had any issues.
You know, we've been around multiple chains before, building with multiple ecosystems
and work with protocols.
We haven't had any bad debts at all before.
So I think, fingers crossed, of course, and knock on wood, we want to continue this type
of, in a sense, of course, and right. Knock on wood. And we want to continue this type of, uh, in a sense, it's credit, credit worthiness,
right?
I want to continue this very transparent and very good.
Um, I would say, um, I've got the word right.
I kind of blanked out for a minute, but anyway, just great, great street credit.
Yeah.
Great execution and operations as well.
Right.
Like you've just, you've got that, you've got that trust because you're actually delivering on it,
like you're actually putting in the work and you can show that and you have that history now,
which is really, really exciting to see. Can you tell me a little bit more about the future then?
So we've talked about the past and the current, like, you know, we know why it's secure. We know
why you have built it. I would love to know how you see susda fitting into an increasingly
competitive stablecoin space because they're out there those builders are out there yes you're
absolutely right like um good friends with the folks over at spark as well if i make a doubt
those folks have seen what they're doing everyone's moving into more of the institutional
stratified type right and every stablecoin stable coin, yes, is different.
It's competitive.
USD, E, Dye, you know, startup and those folks.
I would say I think a couple of things.
One is not just what I mentioned before was the strong peg defense, right?
And that's one thing that most algorithm stable coins can, you know, they don't really guarantee that type of stuff there.
And I think, too, at the same time is the fact that we're a little bit more flexible.
Most of these giants, in terms of, you know, that already did amazingly well,
they, because of how big they are, they take a little bit more time.
So we're able to be more flexible.
For example, SUSDA and all this stuff, you're able to swap for USDT, right,
and end up with different type of structured products, right? You can use your FBDC to be even more active.
And SUSDA, of course, we're able to, right now, like we talked with Gabe
and talking about working with MIM as well to leverage up,
where I'm down to have SUSDA on staking vaults on PerpDexas
and wherever it can go.
I'm happy to be more flexible with it than others.
And so SUSDA can not only just be our own revenue,
but I'm happy to figure out ways that we can juice this revenue deal-bearing even more.
So as a team this lean and a product this stuff, we kind of really built aFi play styles, DeFi playbooks
that maybe some other stakeholders
aren't willing to try yet.
So I would say that in us,
we're able to experiment more than others.
And I think that's really a big win,
especially when underlying collateral is BTC.
Absolutely, yeah.
Like the whole ecosystem is blowing up right now for for
those not paying attention like btc5 btc defy whatever we want to call it like there is so
much work and so many incredible teams building out right now that infrastructure and how to
utilize it and what to do with it which obviously you know long term we need something to do with it
like you know the mining will eventually end and there will have to be infrastructure and there
will have to be use cases that allow this thing to continue afterwards and it's obviously with
the success we've seen around bitcoin right now we all know that people are very confident with
that but it does come from the builders here as well so look really really love that take coffee
love how you've broken that down for us and i'd love to shift pace a little bit and talk more
broadly about this ecosystem right now and nibiru as well and their part to play in this so for our
listeners as we do dive into the second segment almost let's get the likes out let's get the
retweets of the show out and if you haven't already but you are excited about what is being built here please do go follow nibiru follow coffee follow avalon which you can found in the
audience as well and make sure you follow gabe as well if you're excited about the show gabe
mic over to you here let's talk ecosystem how does this whole premise fit into the Nibiru ecosystem strategy and what can I do with my SUSDA?
Yeah, so great question. And one of the big themes, you know, like I mentioned before,
and in plenty of the other spaces is the structured product narrative.
Our huge and our biggest focus within DeFi is twofold, honestly threefold. One,
making sure that users are able to get high
yield opportunities that are sustainable you know we don't want a lot of we've
seen this with numerous l1s they come in they have these super high ap wise like
even in d5 summer and they're around for a couple months they go back down to
market rates and all of a sudden like like users are like, hey, well, what am I doing here?
And then everything falls away.
So we're really focused on working with partners exactly like Avalon to make sure that, you know, this is something that is going to be sticking around.
The yield is sustainable coming from these loans.
And it doesn't need to be topped up.
topped up. It doesn't need to be, you know, artificial. It's very sustainable. And then
It doesn't need to be, you know, artificial.
It's very sustainable.
number two, and this is a bit more on the DAP side, we want to make sure that all of our DAPs
are getting a lot of utilization and revenue. And utilization is obviously much more focused
on Avalon. We want to make sure that they're able to get as much USDA and SUSTA into the ecosystem
in the most effective manner.
Because obviously they're going to be making more money and they're going to be accruing
more TVL as that expands across the ecosystem.
And then finally, we're working with our ecosystem partners.
Obviously, Abracadabra is one of my favorites, but they're just such an easy example and
a great team that we're really excited to work with.
And, you know, just off the bat, we had a proposal, but essentially giving them and allowing them to earn as much revenue as possible is another huge focus of ours.
And then, you know, like you mentioned, what can you do with your SUSDA?
This fills in one of the key roles within our ecosystem of being a yield
bearing token. The base layer of our structured products means that if you're a very new user to
DeFi, you can just come in and get 10% yield, no strings attached, very safe, very secure,
which again is almost two times whatever T-bills are right now. So, you know, it's not
sexy, but it'll get you exactly what you need if you're, you know, if you want to be very simple.
But if you're a bit more advanced, you can come in and go to Abracadabra. You can go into SAI.
You can, you know, use this, you can leverage it up. You can use it as collateral. You can
provide liquidity and
harvest some of the rewards that are coming with the Nibiru EVM campaign. But I think one of the
biggest things here, you know, if you're a yield seeking DeFi user is going to Abracadabra and just
leveraging this. And so one of the things we're most excited about is that partnership with
Abracadabra and avalon um and so just to
throw out some numbers you know if you're using some leverage you know like we mentioned the yield
the native yield on this is going to be 10 no strings attached but if you start to leverage
this up a bit you can get north of 30 yield on this um it's completely sustainable, very high yield, obviously, and just plenty of opportunities, especially within that, to just let your capital sit there.
And then we'll obviously have a decent amount of vaults as well that make it very simple.
You know, there's a lot of strategies like delta neutral strategies that are super complicated.
strategies that are super complicated. I can't even explain it sometimes. But essentially
I can't even explain it sometimes.
abstracting away all of the complexity just into a very easy way is one of the biggest things we're
focused on. Look, absolutely love this. And look, anybody, when we talk about Bitcoin and stables
and hear the word 30% is going to be excited. But Gabe, I have to ask that question.
And of course the audience will want me to as well. What kind of risks are associated with
abracadabra and say, say, and this idea of yes, like going for that additional yield, because,
you know, that's, that's big numbers, but we've seen some numbers like that before.
but we've seen some numbers like that before.
So I would love to hear more about like why you guys are different.
So I would love to hear more about why you guys are different.
Yeah.
So one of the key things is we're working with partners
that are creating a sustainable yield
and we're making sure that the backing is as secure as possible.
You know, obviously, Coffee talked about the very secure backing of USDA
and obviously by proxy, SUSDA.
And so we want to make sure that there's as little dpeg
risk as possible um and you know obviously it's it's crypto you know there's obviously risk that
comes along with it but minimizing that by making sure that these providers are you know as secure
as possible is thought number one that comes when we think about these partnerships um and then number two is going
to be obviously you know if you're using leverage it is going to be risky but working with abracadabra
to make sure that you know there is a buffer um for you know liquidations is is another big thing
that we're focused on so you know I'm not going to sit here and say go a hundred X leverage on this and you
know I don't want people to come yelling at me if you know somebody gets liquidated with some crazy
risk tolerance so you know not uh not financial advice but um you know just be safe um but as is
using leverage on a stable coin is is one of the safer ways in crypto, since you don't really
have to worry about the volatility of a staked ETH or a Bitcoin. And so, yeah, I would say those
are the key risks. But again, it's a stablecoin with a very secure backing in Bitcoin. And so
we're trying to minimize that as much as possible. Absolutely. And I guess my next question then, if we're confident, we're comfortable,
and we want to move ahead and we want to get involved here, how do we? How can I get USDA or
SUSDA? Yeah, absolutely. And so fortunately,
coffee messaged me this morning. And so susda and usda were actually deployed this
morning um so really excited about that still needs to get added to the bridges but essentially
if you have usda or susda on any of the partner networks that avalon is launched on i'll probably
just plug ethereum for now you can bridge that over using Stargate into the Nibiru ecosystem.
And that'll be one way.
That will be providing a lot of liquidity.
That's probably the easiest way.
But once that's live and Stargate's all set up, we'll also be spinning up some secondary markets on Oku and also MimSwap.
We'll also be spinning up some secondary markets on Oku and also MimSwap.
So that if you just want to come in with USDC or you have that on-chain already,
you can just swap right into SUSDA or USDA and start earning.
But yeah, that's about it.
Awesome stuff.
And I guess, look, you guys have both done a great job of opening up the ecosystem,
breaking down the stablecoin and why you guys are teams and projects and builders are here to execute on this.
I guess the next logical question has to be, what are the next steps if everyone is happy and they want to get involved?
So what does the roadmap look like for this partnership?
And Gabe, maybe you can come in first here, and then I'd love to hear Coffey's thoughts on this as well.
Yeah, absolutely.
So like I mentioned, SUSDA and USDA were deployed.
But as soon as they're up on Stargate, that's really when this partnership starts off with users being able to take advantage of this.
Like I mentioned, Abracadabra.
Abracadabra's coming soon, probably in season two. But we just signed up a proposal with them that will enable that leverage engine to start getting kicked off.
So that'll take a little bit of time, but expect by season two to have that up and runningps platform will be launching probably within the next month or so.
But the thing that we're really excited about is the Psy savings feature.
And so the way that Perpstex's work right now is you deposit your USDC or whatever it just or you know whatever asset it is and it just
sits there you know nobody loves that it's great that it's it's liquid and you can always pull it
out but we wanted to create a feature that allowed users to earn yield while they're you know just
having idle capital sitting there um and so we're super excited that Avalon was is working with us on this and so on the back end
you know it's super complex there's going to be a lot of different um there's going to be a lot of
engineering speed going on so I'll save a lot of that there but essentially any idle capital that's
sitting on psi um will be earning five to 10% yield, um, just by sitting there. And so essentially,
yeah, it's just a really easy way to passively earn capital. Um, and if you want to swap or you
want to do some trades, it'll all happen seamlessly. Um, and yeah, so any capital that's
sitting there is, uh, going to be earning yield. But yield. But I think those are the three main things.
But I'll pass it over to Coffey as well.
Yeah, Coffey, straight over to you.
Yeah, so I think, you know, in the foundational level, that is what we want to do as well and good start.
I'm happy to do unique strategies as well, right?
Like, because most of our folks are leveraged, of course, their BTC and wanting the upside to it.
And through the statement, I'm happy to see if they work with the native Perp Dex on Nibiru to also hedge, in a sense, right?
Be able to gain, but also be able to get the yield, too.
So kind of opening their own manual type of, you know, Perp's basis arbitraging, in a sense, right?
basis arbitraging in a sense, right?
And also keeping track of their making sure, you know, BTC, if it's an incentive, if it
keeps going up, that's fine and all that, but it's more so like hedging it in a way
and still earn some yield.
Definitely want to do more leverage looping with the SUSDA side of stuff, right, with
MIM.
We're looking forward to that as well.
Want to do savings vaults in the future if Nibiru has any type of HLP or GLP method
or something, want to add SUSDA into it and be part of one of the stablecoins in the vault.
Also, we'll love to see if there are strategies where it's like we would take SUSDA here that
has the yield or strip some of the yields and figure out some of the mess with that. I'm always down to explore new realms and explore more avenues there too.
But I think for the time being, if any, you know, as Nibiru can continue to expand this area, right,
more structured products, I want Avalon to be able to find a fit.
We'll look for a way to fit into, whether it's basis trading,
arbitraging stuff,
or anything else new out there.
I'm happy to find ways to make SUSD and the BTC collateral
into more productive assets.
Awesome stuff, guys.
And look, just I want to give you guys
both a massive shout out
for hopping up on the show today
and giving the audience this TLDR.
It was really
really useful you know i i can read road maps and i can read white papers until i'm blue in the face
but just actually getting to spend an hour just to hear from founders and builders and teams is
so so so valuable and just massive shout out for you both gabe and coffee for finding the time for
us today and of course to Nibiru for putting
this one all together and we are getting really close to the end of the show so listeners if you
are enjoying this likes retweets all the good stuff this whole thing's recorded so anyone can
tune back in and get that TLDR whenever they like I guess from the community standpoint we do have a
couple of questions I'd love to run through and so one question that has come up is purely how can
i redeem my susda and i know we've touched on that gabe but i think it's always worth especially at
the end of the show where we've got you know listeners who've only just tuned in to really
double touch on that one so we'd love to hear how can i redeem my susda as a user yeah so i think
that's a bit more of a coffee question but um so i'll let him
take that but once you have s-u-s-d-a on a nibiru i assume it would be going back to uh bridging it
back but i'll let i'll let coffee take this one oh thanks gabe my bad no no no i think it's a fair
it's a fair question for both i think it's more of once we have these pools set up on view right
they could just swap it anyway on the decentralized type of DEX pools, right?
But in terms of the current where SUSD lives on is that because of smart contract issues and how these vaults work, it's all on Ethereum at the moment.
And so you'll have to bridge it back, right?
have to bridge it back, right?
Once the bridge of Stargate is set up to, they'll bridge it back and they can redeem
the SQSDA by unstaking it back to USDA, which would be about seven days of timing.
And then they will make up the difference.
One is rebasing, one is not.
So after that, once you redeem back to USDA, you'll get even more amounts of it.
amounts of it and then you can swap to usdt or whatever you want to do with it and that's it
And then you can swap to USDT or whatever you want to do with it.
And that's it.
but for those that are utilizing their btc area right the union btc and then bridge in and getting
usd and sd and going to the bureau those folks will have to repay back their debts right and
then swap it off to usdt on the off-chain credit line that we have right and then do other type of
unique format but typically we introduce stuff to the BTC folks,
more so the institutions, and we kind of put this product
on their face and be like, yo, this is what we're doing
in Nibiru, check it out, because we want to add more
different user personas and different type of users
to Nibiru.
So in this case, we'll be pushing both, both retailers,
but also a couple of institutions that we already
work and sign contracts with to check out Nibiru's ecosystem, play around with it get some yield out of it or do whatever they want but
most importantly it's a sticky liquidity that'll stick to nibiru as well
now i appreciate that coffee and yeah really really do appreciate all the conversation we've
been able to have today for our listeners if you haven't already as we do get closer to the end of
the show definitely implore you if you're interested about what you've heard today, to follow Niberu
Chain, follow Coffee, follow Gabe, and follow Avalon Labs that you can find in the audience.
I tried to get you guys up on stage, but I think X is a little buggy today, so apologies
for that.
But it's Avalon Finance with an underscore for the account if you are trying to find
it, or you can see that
square tile and the gold tick in the crowd so do follow them from there um i guess final question
um and i'll leave this one open whoever wants to take this fantastic will users be able to farm
aura as part of the block party if so which season yes absolutely um and so the way that that pertains
to avalon is since avalon is going to be one of the larger drivers of tvl in our ecosystem
essentially just taking your usda or susda and deploying that into abracadabra oku mimswap any
of our various vaults when they're live um just depositing across the
ecosystem that'll be a fantastic way and who knows there might be a couple bonuses there um
no not going to hint anything too serious but um yeah it'll absolutely be a a part of the block
party and uh yeah really excited for it awesome stuff gabe and look i know we are getting really close to the end of the show so
at this point in time i'd love to just throw the mic back over to coffee and then gabe and just ask
for any broader updates milestones anything at all that you'd like to use this platform to share
when it does come to avalon labs and what you guys have got cooking up next so that's me right yes please look man I respect all the BTC builders and they all understand how
difficult this subject is I respect all the BTC LSTs LRTs right and a few of us are out there doing
the stablecoin mod? I love all the
competition and the enemies out there. I just think that, in a sense, we are all trying to solve
the same problem, right? Giving Bitcoin holders capital efficiency, yield, crushing usability
without sacrificing security, and too much of the decentralization part too. So we are trying to give everything to the, you know, all the Bitcoin holders with no negative type of losses. And it's incredibly difficult. So I'd say hopefully for Avalon's part is that we if this is what we have done with this particular BTC derivative, and is how big we are, imagine if we work with three to four more, right? We could be solving more problems. As DeFi, Bitcoin space,
all matures, we can do more, we can mature as well and grow even bigger. So I guess in a sense
is like, this is what we have done. Take this as a benchmark. Imagine what we can do in the future.
And the future is how can we make US USDA and USD number two or almost chase after number one in
the CDP area, right? We're currently number two or number three.
And how can we give more use cases to Bitcoin?
How can we make it more safe, but also give them more reasons to not just do the whole buy and hold method?
Which, respectfully to that, yes, but it's like, what else can we do, right? What else can we help change the model, help change the stigma and be part of this revolution?
And that's it.
So it may be with Avalon, it may not.
But all I know is that at least looking back at it,
hopefully we made a difference and we want to continue doing so.
Yeah, look, Coffey, I'm so with you on that.
I think at the end of the day, to really push for people holding that asset,
that is Bitcoin and this idea, you know, it's digital
gold or it's beyond that. And it should be something that everybody tries to obtain,
especially right now in this moment. You need ways to ensure that fact. And honestly, one of
those ways is to make sure that you have liquidity there so that you don't have to like really dig
into those funds and sell it because that's the only other option you have available so even to that respect i think it answers more questions
than it brings up when it does come to holding that underlying asset which you know a lot of
us here do just want to hold and stack more of um gabe i'll throw the mic over to you before we do
close out any final thoughts from you any updates, or anything we haven't been able to share in regards to Nibiru Chain before we close out?
No, I think we touched on pretty much everything.
Just want to reiterate that the block party is live,
and there will be incentives going out by the end of the month.
I guess, yeah, by the end of July.
And so while you have it and while you have the chance,
definitely deploy TVL, whether that's to Oku, whether that's to MimSwap and obviously stay tuned for more
announcements. Obviously work with Avalon, but we've got a couple more tuned up. And so, yeah,
should be an exciting season. Season two is coming out next month. And yeah, we're just going to keep
shipping stuff. And, you know, we're just going to keep shipping stuff.
And, you know, we're really excited to work with Avalon.
Obviously, this is one of the key protocols within the Bitcoin FI ecosystem.
And so just having another bridge to that is something that we're really excited about.
Well, on that note, then we'll leave it at that.
And thank you guys again so much for your
time today big big shout out to all the audience who've tuned in and i hope you had some fun and
learned a little bit more about what is cooking behind the scenes with these teams and that is
all we have time for today so thank you so much for tuning in and we'll catch you on the next one
thanks jack thank you take care absolutely thank you guys Thank you. Oh, sometimes I get a good feeling. Yeah. Thank you. Það er að hlutja.
Það er að hlutja.
Það er að hlutja.
Það er að hlutja. Thank you.
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