Ociswap X Space. With Joost from Gable Finance 🏦

Recorded: Nov. 30, 2023 Duration: 0:44:48
Space Recording

Full Transcription

Nice Christmas-themed sounds.
Just waiting a little bit longer
for more people to join.
Maybe you need to post it.
Post a link everywhere.
Ah, the music never comes back
after I speak once.
Please fix this Twitter.
I'm going to post it.
Okay, push, push, push, push.
Maybe some quick mic test.
Are you there, Joost?
Yeah, yeah.
Hi, Lucas.
How are you doing?
Yeah, I'm doing well.
Excited for this session.
Thank you so much for joining
the second AMA session for us
with Ossyspob.
So I'm your co-host,
Lucas Steffen.
I'm one of the co-founders of Ossyspob.
And yeah, hopefully can continue
with this format week by week
with more and more projects
joining on Radix
and telling their stories
because it's just everything
just getting started.
And there's so many people,
so many interesting backstories
and to also to learn
from others as well.
So they have this space
as a sort of an inspiration
maybe also for other developers
or entrepreneurs
who want to start a project
or developing on Radix.
So in general,
this is maybe something
we could achieve
with this long term.
Then I would say let's start.
Also, we could tell something
about you, Joost.
Some quick introduction.
Yeah, sounds good.
Hi, everybody.
I'm Joost.
I'm from the Netherlands.
I have a background
or academic background
in quantitative finance,
especially financial modeling.
I've studied finance
as a bachelor's
and quantitative finance
as a master's.
Thereafter,
I started working
at the Dutch Bank
as a risk model engineer,
which basically entails
that I've been involved
was involved in implementation
of credit risk models.
So that basically introduced me
to the software development
side of things.
And I think it's
the combination of skills
on the one side,
the financial modeling,
understanding of financial instruments.
And on the other side,
the understanding
of the software development
and implementation
that basically brought me here
and enabled me
to build Gabel.
So that's a bit
about my academic
and professional background.
Other than that,
in my personal life,
I'd like to play football
with friends of mine
like any other Dutch guy,
I suppose.
You mean the real one,
not the soccer, right?
Yeah, yeah, yeah.
Yeah, yeah.
Same struggle
for Germany.
So most people
are thinking
about the American
hand egg one, right?
So you're also
professional football player
Well, not professional.
I wasn't probably
building a Gabel.
it's a recreational level.
It's more about
the fun after the game
than the game itself
most often.
That's good.
So you built Gabel
on your own.
So there's also
some team already
around you.
So I find it always
very, very inspiring
or amazing
to see people
really try
to bootstrap
completely
on their own
because there's
so many things
you need to
have in mind, right?
So how are you doing
it in the first stage
now with Gabel?
Yeah, it's going well.
And as you said,
I'm currently alone
on the project.
I've been able
version one
of the protocol.
I think it's also
due to the fact
that the Reddick
Stack stack
is rather accessible.
Scripto is a very,
easy to learn
and also easy
to use language
which really,
really simplifies
the smart contract
development part
of things.
So that helped me
quite a lot
in the whole process.
But other than that,
there is a lot
actually that is
involved other
than just smart
contract development.
There's also
the whole back-end
You need to be able
to build a proper
front-end solution.
There's also a lot
of administrative
work involved
and name it.
So altogether,
it's quite a lot
but I think
if the ambition
and the motivation
it's definitely
Wow, that's
really crazy.
I really like
these stories.
Also, congratulations
for your bubble
and booster.
Kranz, you're also
part of the,
so just launched
also your protocol
basically all
on your own.
That's really
amazing to see.
Is there some
high-level
or top-level
explanation
about your product
what you're offering
with Gabel?
Oh, Gabel, sorry.
Yeah, no, of course.
Yeah, so in
simplest form,
Gabel is a
decentralized
lending protocol
built on Redix
DLT, of course.
So, version one
of the protocol
has launched
last month,
so it's already
been available
for a month now.
two aspects,
basically,
a supplier side
and a borrower side.
From the supplier
side of things,
we collect liquidity
via staking rewards,
which entails
that there's
a Gabel validator
node in place
that collects
staking rewards,
so anyone can
stake to the
Gabel validator node
and then the
staking rewards
will actually be
extracted from
the validator node
and put into
a liquidity pool.
liquidity pool,
flash loans
are issued,
so that's the
borrowing side of
So the first
lending product
is our flash loans,
anyone can
utilize them,
anyone can
make use of
basically access
liquidity right
And especially
the supplying
side of things
has been very
accessible to
Staking is
something that
people are
familiar with.
Flash loans
are a bit new,
I suppose,
but it's been
very interesting
to see how
the community
familiarizing
themselves with
it and also
actually manually
profitable
flash loans.
So there's a lot
of development
So the term
flash loan is
maybe not so
well-known or
familiar with
most people.
Maybe also a
quick explanation
of what's going
on behind the
basically.
understandable.
So flash loans
are basically
loans that are
unique to the
DeFi world.
So in traditional
finance, for
instance, the
concept of
flash loans
doesn't exist.
flash loan is,
it's basically
a loan that
you can execute
in a single
transaction,
transaction,
which means
that you get
a loan and
repay the loan
in a single
transaction.
And that is
made available
in Reddix or
enabled in Reddix
due to the
composability
aspect of Reddix
in which you
DApps, for
instance, in a
single transaction.
can might think
to yourself like,
okay, what's the
use case of that
instance, within
crypto, flash
loans are used
quite often to
benefit from
opportunities.
instance, you
multiple tokens
across multiple
benefit from
discrepancies
between these
pools using
flash loans.
execute certain
trading strategies
using flash
And there's
actually a bunch
more use cases
which require a
explanation.
far as I'm
aware, there
was even one
guy in the
community who
simply made
flash loan
solution, right?
Just using the
transaction manifest
without any
developer background
knowledge.
really, really
cool to see,
So that's like
in Lego blocks
that can stick
together all
these different
depths and then
execute everything
in a single
transaction.
That's super,
super cool,
I also had a
conversations
in Twitter
in the past
with people
other layer
They said,
flash loans
isn't really
a use case.
really need
Most of the
time people
layer ones
composability.
what do you
think about
really something
leverage more
we're just
using because
like especially
now in the
current stage
of Babylon,
it's a very
early stage
there's quite
some price
discrepancies
exchanges.
is developing
slowly over
and especially
the contribution
for instance,
can increase
also solve
certain price
discrepancies
in between
the DEXs and
thereby create
an overall
more liquid
consistent
For instance,
not everybody
has access
to a certain
for instance,
benefit from
properties.
Having this
which people
are actually
access the
needed for
strategies,
important.
Definitely
agree also.
of related
flash loan
any specific
areas where
Gabriel Finance
sees potential
for collaboration
or integration
with, for instance,
Splash Campaign,
general liquidity
that people
to execute
flash loans
And, yeah,
that's the
generally.
thinking about
I'd love to
integrate,
for instance,
certain price
information into
our application,
front-head side
and thereby
enable users,
for instance,
to discover
certain price
discrepancies
to benefit
from them.
think that's
one opportunity
and integrate
other side,
already listed
The liquidity
currently being
derived or
in that pool
token itself
benefit from
campaigns that
is hosting,
for instance,
the upcoming
Splash 2.0.
participate there
for instance,
eligible for
that campaign,
that would
highly benefit us.
already use
cases implemented
or are there
something you
want to add
your future
milestones?
certainly.
for version
one of the
currently live,
doesn't really
the anticipation
future releases
of version
going forward,
the GAP token
will play a
crucial and
fundamental role
ecosystem of
currently,
actually create
a decentralized
distribution of
the token,
and that's
something that
we'd like to
achieve by,
for instance,
the current
And moving
release of
the protocol
version 2,
Gabel token
actually starts
vital role,
we'd like to
start increasing
the liquidity
of the token
people can
actually make
trade with
And that's
also where
we'd like to
start incentivizing
provision,
and where we
also really
like to make
campaigns.
to make you
speech bubble
If you have
also something
our conversation
new questions,
feel free to
write it down
and we will
also cover it
during our
That sounds
really interesting.
especially to
just like two
months into
smart contracts
with Redix
kind of already
covered all
these, let's
say, basic
protocol designs
other layer
protocols,
hopefully to
marketplace,
and so forth.
if you are
just speaks
for itself.
what is up
and coming
when we're
just already
close after
So what do
you think are
the next steps
in general for
our ecosystem
and also for
your protocol,
how we could
leverage this
unique tech
even more?
Yeah, that's
a very good
I think the
basic needs
are currently
already launched
ecosystem, so
now I think
respect to
improving and
also finding
more advanced
solutions that
you can build
I'd actually
look forward to
synergy between
the different
protocols.
I think many
of the protocols
are standalone,
and I think
there's a lot of
synergy that can
be generated
from working
together and
collaborating.
something that I
really look forward
upcoming time.
for instance,
what would you
like to see
or have you
some reference
from other
layer ones,
other ecosystems,
what they are
achieving sort
protocol engagement?
yeah, as well.
Yes, you have
some examples
or some ideas
from other
layer ones.
thinking about
how could we
collaborate even
more between
those steps.
Not just saying,
okay, we launch
now, please use
And everyone
its own thing,
basically.
Yeah, we'd
really like to see
more directions
between the teams,
between the
protocols,
leveraging
composability even
more, right?
in the sense
at the same
opportunities,
for instance.
something that
I also look
forward to is,
for instance,
the stable
coins that are
being launched
on that can
traded across
protocols and
maybe even
certain liquidity
pools that
incentivized
by multiple
parties at
also utilized
question from
our AMA is
also focusing
intuitive UX.
Gable Finance
approach user
experience, and
what lessons
could be shared
between the
two platforms?
Yeah, that's
also a very
good question.
honesty, I'm a
backend guy, so
I'd like to
focus more on
user experience,
and I've been
trading and
swapping on
OCSWAP quite
often lately, and
I've been really
enjoying your
interface and
overall user
experience.
I think one of
the powers of
the fact that
your application
is also your
browsing through
your homepage
people are
immediately able
to interact
application.
think that's
something that
users value
quite a bit,
and also makes
experience and
also the user
journey very
accessible.
something that
learning from,
and it's also
something that I'd
like to apply on
which we in the
future will
develop and
single-page
web application,
which people
might consider as
our homepage as
thereby making
the interactive
protocol much
more accessible.
like a plug-in
widget solution
implement into
your overall.
So the next
question is
kind of related
to both of
us, so maybe
I will start
answering it.
So this is
about what you
perceive as the
biggest challenges
in the evolving
DeFi landscape.
biggest challenges.
I think the
biggest uncertainty
or challenges
are around
regulatory
uncertainty all
around the
globe, right?
So accessing
liquidity in
general is,
should be more
to tackle like
all, all over
the world.
It's like not
just tackling
everyday people
in regards
approvals.
So getting,
getting Bigfoot
inside the
So I think
this is really
the biggest
challenge to
attract even
more liquidity,
opportunities
regulatory
That's maybe
the biggest
challenge.
something else
and I will
with another
I actually
fully agree
I think the
biggest challenge
that we are
currently facing
is getting
institutional
investors on
I think also
Redix ecosystem
currently it's
mainly dominated
by individuals.
that individual
exposure, I
think it's
importance and
something that
can take the
crypto landscape
to the next
stage, next
To achieve
this, I think
that's also
something that
Redix is very
much focusing
upon is to
start introducing
the ledger.
Although this
is something
that might
not, it's not
something that a
lot of people
want to hear,
but I really
do believe that
having KYC on
chain and on
ledger would
basically the
barrier for
institutional
investors to
get on board
because they
justify, for
capital or
origination of
the capital
comes from
that they are
making use of.
Also thinking
about other
challenges,
maybe more in
general, also
which types
applications or
we're offering
or the lack
of innovation
we're currently
seeing, right?
So we have a
ship depths,
like let's
say Dex's,
protocols,
these types
of features,
it's kind of
slow, right?
The innovation
finding new
use cases,
getting it to
So for instance,
we know at
Uniswap V3
coming, but
yeah, it's
like already
live since six
years, right?
innovation is
quite kind
world, you
also have to
all the new
protocols you're
deploying has
there's a lot
of hacks and
exploits and
certainty around
that of course
So I think
having a good
foundation to
to have even
a way, way,
way quicker
innovation
happening could
enable the
DeFi landscape
to actually
build some
really, really
cool depths
actually could
everyday's life,
For instance,
RWA and so
So something
else to add
or I think
already kind
of the big
big challenges
Yeah, I think
We can keep
So we already
questions in
this chat.
humanity about
this increase
in liquidity
we are seeing
these staking
accumulating
still manually
related to
something?
chart basically
showing or
showcasing the
flash loan
activity on
the protocol.
that's the
pool liquidity
first steep
increase you
see is that
I bootstrap
basically the
booster grant
steep line
that you see
the interest
flash loans
that's been
building up
and accumulating
That's also
dedication,
Put everything
trends inside
the protocol.
fascinating
keep it in
the protocol
but I think
to put back
start growing.
maybe this
also related
looking for
where do you
in general
months I'd
already be at
version two
So version
two of the
protocol will
collateralized
and stable
coin lending
Other than
between we
currently have
door campaign
and thereby
I'd like to
decentralized
distribution
version two
introducing
governance
Other than
improve or
increase the
flash loan
the protocol
is starting
competition
with respect
most profitable
flash loan
strategies
and thereby
first of all
incentivizing
flash loan
automation of
flash loans
other sites
incentivizing
the protocol
going forward
think where
innovation
because once
collateralized
and stable
coin lending
innovating
and introducing
new solutions
new products
and that's
really where
the creativity
starts and
that's actually
most excited
Especially
in the next
coming weeks
we're expecting
more stable
coin liquidity
in general
this really
importance
to attract
so currently
we have the
insta bridge
especially
are really
really necessary
to get a lot
more things
rolling right
especially
perspective
towards KYC
for bridges
in general
regulation
frameworks
for instance
critically
specialized
for instance
securities
perspective
commodities
securities
in general
single token
in trouble
in general
to implement
regulation
some point
cryptocurrency
and thereby
maybe also
starting to
touch upon
for instance
restriction
limitation
regulatory
for instance
regulatory
that they're
in doesn't
necessarily
limitation
for instance
setting up
specifically
absolutely
government
opportunity
opportunity
everything
permissionless
participate
uncertainty
competition
incentivize
supporting
participate
especially
especially
experience
experience
especially
developers
entrepreneurs
screenshots
experience
scalability
composability
interesting
experience
a transaction
transaction
what you're
the project
responsibility
individual
experience
experienced
the community
absolutely
definitely
talking so
much about
because it's
people are
two clicks
destination
to highlight
uncertainty
regulatory
developers
re-evaluate
afterwards
milestones
milestones
afterwards
concentrated
there's so
many stuff
definitely
specifically
interested
collaborating
developing
guaranteed
concentrated
developing
experience
developing
experience
beforehand
development
experience
enthusiastic
emotionally
contributing
experience
developing
thereafter
immediately
the bridge
accessible
documentation
Delphibets
regulatory
uncertainty
decentralized
distribution
for joining
so looking
forward to
to announce