hello hello hello everyone how are we doing today
i hope everyone's doing good just gonna make my main man jump here a speaker there we go
okay i'm just gonna set up all the recordings should just take one second
all right we've got some people filing in now we i won't delay too much on this um getting started
here we've got this space
recorded so people can always listen to it after the fact and we will be adding it to our youtube
channel i'll break it up into a couple videos that are easy to digest um this one's going to be a
little different for our second uh omni exchange ama this time we've got the lead dev with us normally it would be madrid and myself
so we've got a new feel and a new person from the project so i sure appreciate everyone tuning in
here uh this will not be jump's first ama if if you're have if you've been in our community for a
while you've probably heard him talk on amas previously or in videos, but he's one of the
main driving forces of OmniExchange, one of the reasons it's so cutting edge and one of the
reasons we're so excited about it. I've got a lot of good questions for him here today.
You've got a resume with Jumpman too. I'm looking at his disc file and we've got a six-time NBA champ, six-time
NBA finals MVP, five-time MVP, 14th all-star, defensive play of the year, rookie of the year,
just incredible. Is this your real resume, Jumpman? No, it's not not but i appreciate you reading it nonetheless i did have somebody
asked me once if that was true and i had to tell him no that's michael jordan um that's that's not
me it would be cool if michael jordan was on the omni team um i feel like he would love omni maybe
we just need to get in touch with him oh so that's michael jordan i thought that was vince
carter up there oh did v did Vince Carter win an MVP?
No, but he won the Hearts of the Canadians.
And so we'll be indebted to him for that.
So Jumpman is his Discord profile.
His friends call him Jump.
He's going to let me for the next hour call him that as well.
So I'm pretty excited about that.
questions um let's just let's just dig right into it let's do it okay so how do you feel the the
launch of omni exchange went i think i'm i mean i feel like it went i feel like it went really well
um it's it's definitely the the the best product that i've been a part of on a team in terms of the production.
I feel like we had a very long build on this project.
Months and months of the development team really building it out, iterating it, adding features, and then a fairly lengthy test process.
So you're always going to have a few things that you don't see until it's live
and you don't see until you have users doing stuff that maybe you didn't think to test.
But in terms of how it went, I think it went really well.
And I think that we're very, very well positioned now um you know over the
next like 10 days or so to to see users starting to migrate to omni and um especially with our
emissions going live i think what eight nine days from now um yeah so i think it went well there's
always stuff to you know to fix and to work on and um but yeah i'm i felt really pleased with it
absolutely and madrid had mentioned how this one was 12 o'clock on the dot this was like
flicking on the light switch and it just it just went out and it worked right there you're always
going to have a little tiny hiccup but this went out to me without any delays any hiccups like I don't want to say perfect launch
maybe but like a near perfect launch so congratulations a lot of a lot of props go
out to you and the dev team for that now one of the things that was different about this project
um than than the previous ones was this was multi-chain.
Did you have a lot more trouble in developing this one
because of the multi-chain feature?
It's certainly more complex than a single-chain operation,
account for a lot more things. Like just an example, AVAX, Sonic, BNB, those are three out
of our six chains and their native currency is not ETH. So you're always going to have, you know,
if you're going multi-chain, especially with chains that are not using ETH or different native
currencies, et cetera. Yeah etc yeah it gets it's
a little more complicated but I think that uh you know there's a little bit of a threshold that once
you cross that and you're kind of iterated out uh multi-chain uh you're good to go um so I you know
honestly it was not I wouldn't say that that was the hardest thing I think the v4 stuff certainly
extremely hard um you know just a big a big task but um you know i think once
you can land land the plane even with two chains you know two one to two is difficult two to 20 is
not uh in my opinion you have infrastructure that you have to scale but the you know the tech side
of it from our end is you know you you do all this kind of front end work and then it pays off um you know in the in
the years to come yeah you can almost think of it like an electrical box right where you've got
those extra slots for additional wires right and once you wire the initial box the addition is not
so difficult yes um i'm a little embarrassed to say that you said something there that some of
these chains their native token wasn't
ethan and i never even fathomed that like it's unbelievable to me that i didn't even think of
that but of course that would be another layer of complexity i'm so used to just working in
in ethereum by default so wow wow it's not that hard though i just i don't want to over i don't
want to overstate it because there were other things that were really
hard. So I don't want to overstate it. You know, it was, it, it,
I'm glad that we landed where we landed.
Absolutely. So if it is so difficult to,
to expand into a multi-chain environment or project,
why would we want to like undertake that? What,
what's the real benefit to us as a DEX,
but also to the community in having those extra chains?
Well, I mean, I think that there's, you know,
the DeFi landscape is big, it's complicated,
it's like, it's everywhere, right?
So I think having a product that you can like very quickly steer
into different chains and having the ability to
put liquidity on those chains is a huge asset. So, you know, the idea for Omni is to be everywhere.
And that ultimately helps the Omni token. If we can be everywhere, if we can be
a highly competitive DEX in terms of our liquidity and our pricing um and we're generating
a lot of revenue um as a as an exchange then that's gonna that's gonna be an enormous benefit
to to the omni token and i know madrid has talked at length and has done an awesome job of explaining
how that works so um you know that's a that's a value prop that from the dev side, it's like, oh, that's definitely worth it because it will pay off instantly.
And, you know, it helps the community.
Now, when you're putting a project of this magnitude together, we've talked a little bit about integration partners or launch partners where you're
incorporating some of that outside tech into this. What type of benefits does including that tech
have for Omni or what type of problems does it cause for you by having to integrate
someone else's code? So sort of what's the benefit and what are the hardships in doing that? Yeah, good question. And I would say like the lion's share of what we have
is not outside, it's inside tech, you know, blood, sweat and tears tech. But certainly there are a
few examples of, you know, external integrations that we've done. And I think
the biggest one is certainly Layer Zero, whose tech I'm on a personal level. I'm like, that's
extremely cool stuff, what they've built. So from our end, using Layer Zero and we're using the
using layer zero and we're using the V2 standard for the Omni token allows us to natively move
Omni between supported chains. So that means if you, let's say that we put a, you know,
there's emissions going to a farm on AVAX and you're in that liquidity pool and you're earning
Omni, you earn native Omni on on avax and then you're able to
move it back over to base um or move it to any other chain that you like so um that's that's an
example of like a very clear benefit to the decks of of working with layer zero on something that
they big brained on their own um and you know it makes a lot of sense so the you know on the i think
did you ask about the difficulty was that kind of the second second side of it uh yes
yeah i mean i think you you know you just have to understand it really well and you know we
we ultimately we had built it out for v1 and then we looked at v2
and decided and we talked to layer zero and if i recall and um you know understanding the difference
between v1 and v2 and um you know we decided to to move up and go to and go to v2 so i don't know
to be honest everything's work like everything's you know everything's kind of hard so you know
it's just uh you know it's
like there are some things that are worth it and i think with this dex too we've taken the approach
of like we're going to do things the hard way like we're not going to make things difficult for
ourselves but if there's something out there that makes sense um you know to the business and to the
community and to the users then it's worth it's worth the grind you know what i mean i couldn't agree more and once once
everything is in full swing and users are familiar with all the tools and all the features and all
the options they have they're going to come to really appreciate it i know we have a better
understanding because we write the docs and we talk about this type and type of stuff and you
know once the community really sees everything that's there,
I think it's going to blow their mind. So kudos to you, my friend.
Oh no, it's not me. It's a whole team. I mean, you were a part of our testing,
so it's not, you know, yeah.
what areas do you focus on to make sure that the user kind of is having the
best experience possible?
Yeah, good question. I mean, I think you start with like your basic, the basic infrastructure
and the contours of the whole operation, like everything needs to work and it worked,
it needs to work very well. It needs to be fast um i hate clicking something on our live site and seeing
you know one of those little loading indicators um like i hate that so um you know from our end
like we would like our site to be you know the fastest web3 property that you visit um and we
want it to be intuitive too i think and especially you know i i mean i'm a i'm And especially, you know, I, I mean, I'm a, I'm a user too. You know what I mean? Like
I, I'm not just a developer. Like I remember being on pancake swap, I don't know, a long time ago,
five, five years ago, which is like a hundred years in crypto. But, um, you know, so like I,
I'm a user too. And like our, one of, one of our goals, and I think, and we have, we have ground to cover here, I think in the next month is just to try to figure out how do you make it more intuitive?
When does it make sense to explain? When does it make sense to not explain? You know, it,
it should feel very easy. So that, that to me is like really, really important is like,
when you're using the site, you shouldn't get confused. You shouldn't get turned around, like, where am I again? What am I? Where was I supposed to go
to vote or something like that? So that is something that I think is really, really important.
It's just needs to be accessible, it needs to be intuitive, and it needs to be pleasant.
If that makes sense, like I want if you're, if you're using our stuff like i want you to enjoy it like it should be fun and it should be um it should be really really easy so it's it's like uh maybe like
sounds like buzzwords but i think something that i've learned over the last like few years at least
in doing this inside web 3 is like you actually you have to spend a lot of time and a lot of effort to simplify, you know,
like it doesn't start simple. It actually starts very complicated and it's easy
to like over engineer. So to work backwards and to try to simplify,
make things more simple, make things more intuitive.
It takes a lot of a lot of effort. I actually enjoy that part.
First, you've got to build it.
You've got to make it right.
You've got to make it usable.
And then you can take the steps to get it down to simplify it as much as possible. So if your shoes aren't comfy, you're just not going to wear them.
Now, this is going to be a hard question but it builds on what
we were just talking about um if you could rank these three areas that you're focused on
be it usability or functionality or profitability how would you rank those three when you go to
build something like omni exchange did you say it's usability functionality and and profit profit ability
usability functionality okay i'm going to put a question back at you so that i can make sure i
answer it properly what's the difference in your mind between usability and functionality
um usability would be like you said it's just it's really easy to use it you don't have to ask
a lot of questions you can almost just muscle memory your way through it i would give functionality
having a whole bunch of other tools that would expand the capabilities of a traditional decks
okay yeah and i would look at it too uh now that you say that is
like usability is user experience functionality is do things work properly um you know is like
is my data right is like how confident am i that when you when how confident am i as a user that
when omni says the apr is x that that apr is you know, or volume, all of that stuff. I would,
I would include that. So, I mean, I think in that vein, functionality has to be one.
And, and, and I would also say like, that's a prerequisite. Like it has to, if it doesn't,
then don't release your product. So fortunately we've cleared that hurdle, you know, because it
has to, it has to work the way that it needs to work. And it has to be, you have to, there needs
to be high fidelity and like high confidence in a, in a, in a, in a, from a user to Omni, meaning
like you use our product and you're very confident that this is exactly what we say it is. And, you know, that may sound like, yeah,
well, duh. But like, again, as a user, I do know that there are other properties out there. We're
not going to name them because that's not, we're not that kind of decks, but there are properties
out there that like will quote an APR that I know for a fact is not, I don't even know if it's
achievable, but it's certainly not
achievable for like the vast majority of users. And that's what gets advertised. And so, you know,
we don't, we don't rock like that. So I would say first it's got to work and it has to high
fidelity in terms of data and your user's confidence in what we're saying. Second is,
user's confidence in what we're saying. Second is, is definitely usability. I hope I didn't
interchange those words, but functionality first, usability second, profitability follows, right?
Like that's a, that's a, that's a trailing indicator in my mind. It's like the, the site
will be profitable. The Omni token will do well because of those things and a lot of other things
But I think if you design the site or design the experience around like,
how do we make the most money,
then your priorities are whack.
it's not going to be that it's not going to be even be a good product.
And I think if you focus on that and focus on,
on the product that you're offering and like, how do you make it so that, you know, that the
grizzled DGEN that's survived the last few cycles, like feels at home on your site, just like somebody
like some of my friends that are, that are just like getting into this now and don't really know what it means to provide liquidity.
You've got to be able to make the experience not identical
Profitability should be third because if you don't have the two above it
working well, you just can't really build a profitable site because you
won't have the users they'll get frustrated they'll go somewhere else so right i i agree totally with
how you listed those you also touched on other other projects out there with these unachievable
aprs and that is so frustrating and you chose the higher ground by not naming names but it is sort of unfair
because you do and and this isn't just the big one on base this could count for the the one on
avax you get brought in at at four thousand percent you think that it's going to be great
you keep your your liquidity margin at narrow and the apr instantly gets cut by you know to a third or
something like that it's almost like you have to be on this unachievable one dollar tick to maintain
that apr and so when you look at our site and we we're not doing that it's you're not even comparing
apples to apples you're comparing apples to oranges because the apples aren't being truthful
apples to apples you're comparing apples to oranges because the apples aren't being truthful
in what's actually achievable and so um i'm really happy that we we chose to be as transparent
in everything we do not just our communication but the aprs we show and i think our community
our community appreciates that as well and and when you create a position to um like we'll show you live what your apr is
for that position and as you're creating it and you're making adjustments like let's say you're
doing a a narrow like relatively narrow range on a on volatile assets um you're moving that range
back and forth like you can watch your aprR move accordingly. And I personally, I like that.
I think that that's really cool. And it's not, there are some, some sites that like go out of
their way to make it look like it's something that it's not. And then there are other sites
that don't offer that kind of that live, it's like live feedback. You know, if you, if you do this,
you know, this is going to be kind of the impact on your earnings. So I, you know, again, from a user, I think that that's a, I like that. I like to know what I'm getting,
you know? Absolutely. So then with that being said, and you've got all this usability,
you've got the functionality, you're getting into profitability and you're looking at Omni.
how do you know if you've got a good product as as a dev like do you ever feel like
How do you know if you've got a good product as, as a dev? Like, do you ever feel like,
wow we we nailed it on this one uh
i think we'll know i well what came to mind is like the the team uh like a non-development team
will let us know if we don't have a good product so that's you know that's
maybe like the inverse of it I don't feel like wow we nailed it to answer that question because
you know from my lens like my list of things that I want to do and and things that I want to improve
and all the stuff we've been talking about up to this point like my list is is super deep so
if I could if I could have a month
where I didn't have to do anything other than like improve and optimize, that would be terrific. So,
um, I don't feel like while we nailed it, but I do to some extent, I think if, you know, if you're
on our properties right now, if you're on Omni, like it's a, you you know it's a banger i think so um but that you know that's
there's there's ways to go and things that i want to do and things that the team wants to do and
i'm excited about that um how do i know if we made a good you know honestly i don't know
user user feedback user experience um but i'm also a pretty like personally uh i wish i i wish there was like
double the number of hours in the day because i look at certain things and like that's trash
we need to fix that so um yeah so i think i don't ever like feel good uh and i think that's i think
that's a good thing oh absolutely you should never be like, we're finished. This is our product. DeFi, Web3, everything. It's always evolving and you've got to evolve with it if you want to stay cutting edge like the Omni product is. And so you should never be, I'm finished.
And a lot of it comes down to different parts of the teams focusing on different stuff.
As a dev, when you're watching the market, where so many of us seem to be focused almost exclusively on price, are you focusing on price?
Are you focusing on trying to time the market when you release a product?
Or are you really focused on the tech?
What are the other decks doing?
What's the newest thing out
there um i in the run-up to the the launch i very very passively followed the market like there
would be some days where i probably didn't even check the prices um once the product is released
like i pay attention to our token because that is a representation of the exchange.
So I care about the token and we want the token to do well.
But I think that our focus in the build has to be on the product.
So I think everyone has a lot more fun when the market does well
um and so you know i would love for the market to be uh be doing well but the price action like
especially daily price action um certainly in the run-up to to the release like i'm i'm
i'm way way way less focused on that personally.
What's the hardest part of your job, do you think?
So the same as the rest of the team then.
So what's the easiest part of your job that we might think is a little harder than it actually is?
And I know that's a almost an experience
question because an experienced user might find things easy but maybe maybe one thing that you
think um sounds really difficult but it's really quite easy for you hmm oh i made i may have to do
another reverse uno and ask you i'll answer the easiest part but i'm so you can be thinking i'm reverse you knowing
like because i don't really know what folks think might like might seem hard so if you give me a
couple ideas um i would say like easiest part of the job well i'll tell you i mean honestly we have
a great team um and we have it like we have a we have a team of people here that we've been working together a long time.
And there are certainly days where we want to kill each other.
But I don't know if I should have said that K-I-L-L word on a...
I hope I don't get banned from X.
I'm building my followers.
I can't get banned now for using that word.
But, you know, there's certainly like...
Certainly days where like, you know, just like, you know, friends, you argue or you, you know, get on each other's nerves.
But we've been working together for a very long time.
Like we've hung out in person together, like the whole dev team has out in Denver.
And like, and then there's,'s you know the non-dev team and like
from my end it's like it it it's a lot of fun um to be building a fun product but to do it with
people that like you count as friends like i think that that is way more fun than than that you know
than not so to me um you know kind of that internal team chemistry, doing stuff together and the camaraderie that's built, especially as you get close to launch and it's like, oh, my God, we did it.
You know, we did it together.
That is super, super fun.
And that makes a lot of the other stuff really easy.
Spoken like a six-time NBA champ for sure.
I don't know what to tell you.'m just i'm i'm keeping it real all right you know i'm not gonna be us i'll just give you the truth you know
i should have i should have actually started with that and said can you give us a brief overview of
the of the team and and maybe what areas they they specialize in, since probably a lot of our community doesn't know about this aspect.
So can you give us a brief overview of who's there,
how many people, what they focus on?
Yeah, I'm not going to give their handles and stuff
just because I don't know if, you know.
We have several developers on the team.
I would shout out, I'm sure he's not listening,
but I definitely want to shout out our backend developer
who has done God's work over the last six months
And a lot of stuff that he has had to do
deep down in the trenches of figuring things out
and if you think about a product like this, you have,
you kind of have several different aspects or elements that go into the
products. Like you have your contracts, which you interact with.
Those are typically not typically, those are the purview of a backend developer.
You have your backend infrastructure.
So you can think about our API routes, our sub pools at once and trying to give you
the, you know, the best return, and maybe it's going to fragment that swap. It definitely will.
And, you know, route it through multiple pools so that you get the best ROI. Like that's a highly,
highly data intensive process that has to happen like very fast, right? It needs to be able to go
through all of our pools, considering fee tiers, the
concentration levels of liquidity, like all of that stuff. And it has to happen really, really
fast. And as a user, you don't see any of that. And that's good. Just because you like that'd be
boring to look at. But that is a back end, largely back end process that then hits the front end so um the front end
is you know your web interface and designing and setting that up to talk to our data sources
so that when we ask uh our data sources a question we get an answer back quickly and can deliver that
to the user um and so and then you've got you know design and and and you know how it looks and
colors and all of that but that's that's kind of the core of it so we've got guys that sit in in
um sit in those spaces and uh our back-end developer is a is a monster he's awesome
so our other developers are monster too i mean it's a it's a good team so when we talked about launch partners we could say okay
odos protocol um that would all be implemented by the back-end developer uh say that again so when
we have a launch partner like we talked about and we're trying to implement otis aggregators
that would be done by the back-end person no uh no actually uh honestly non-developers usually help with stuff
like that because that that basically like we have to build out all the infrastructure right
and then to integrate with someone like otos we have to provide the data sources that they need
so that and give them kind of the correct information so that they know how to track
our liquidity pools and consider them
for swaps so i think madrid actually did the request for integration with it now he's always
saying he's a developer and uh this is his big shining moment there you go there you go shout
out to madrid now now has ai helped you is that something that something you're using every day?
If it hasn't helped you to this point in a year from now,
do you see it helping you or making your job easier or faster?
I think users can feel good about the fact that our backend developer
does not use ai he does not
uh you know he doesn't put our contracts into ai and have them you know have it make improvements
for him uh that wouldn't be a good idea um it it has helped but maybe not in the way that like
i think the common perception out there especially with web development right now is like
ai can make you a website in five minutes and like and it can publish it and like yeah but not like
not one of these like not one of these uh operations like they're it's it's way way way
way more complex um so honestly it's kind of like i'll try to use an analogy because you've been good
at using analogies it's like uh kind of the landscape of where it is now is like having a, I don't want to say very smart, a very well-educated person or like an encyclopedia sitting in your office with you that you can use to kind of like bounce ideas off of or learn from or explain this to me.
I'm not sure if i'm fully tracking um that
to me is the use case for it right now um i mean it's good at like repetitive tasks and stuff like
that but i would say on the whole um we're not we're not like ai reliant i think if you if you're
too ai reliant then you're not uh i don't know i i don, uh, I don't know. I don't, I don't love that. So, um, I don't know where it's headed.
Like it's definitely improved like dramatically in maybe the last like six to
18 months. Certainly. Um, I don't know where it's like fully headed. Um,
I do want to say it can't think, all right. I know all these models are like,
Oh, it's thinking it's not really, it's just doing pattern recognition,
but that's just my own personal, cross the bear so no i that you made a great point when you when and that's exactly how i think
that the users are hearing about it ai is gonna write you code and do all this just like you say
publish it live and put it on your hosting and you're gonna just get a template and you're going to just get a template. You can't just have AI write you on the exchange.
It doesn't work like that.
ChatGDP gives you a lot of pictures
and it can provide you mounds of graphics,
but it's not making the Mona Lisa.
And so you still need user intervention.
You still need that human mind.
But like you said, it's great to bounce ideas off of or or or get some organization to your to your to all the ideas maybe you have
but it's it's a tool to use but it's not replacing um anybody anytime soon and i would say too if
you're like if you have interest in doing dev work or if you're like, you're wanting to, maybe you have done some and you'd like to do more and you want to get
like use it to make you smarter.
Like if you're not getting like smarter from using it,
if you're getting dumber,
then you're using it wrong.
And the way that you get dumber is by not thinking and just like,
like trust that just to do your job.
But you can actually take the opposite approach and
like use it to get way way smarter um by making sure that you're understanding things by asking
you know it's kind of like when you're in school right and it's like you don't necessarily want to
raise your hand every you know 10 seconds and ask your question because everyone will think
you're an idiot right um if you're starting out and you want to get like who cares if ai thinks
you're an idiot like go for it you know find some code and like and learn and iterate and like try
things out and try to learn and understand and it'll it'll make you a lot better right absolutely
are there any projects that have come out recently or even even maybe a longer time frame that you've drawn
inspiration from knowing the work that it takes to accomplish what they've done um are there any
that have really impressed you that have come out recently uh yeah okay i've got three um number one i like shadow's docs site um
i there i like the way that their docs look um and uh i think that i'm talking about shadow
the decks on sonic beautiful doc site really really. Love that. Love the visuals there.
Bigger, in terms of what impresses me, or what have we drawn inspiration from?
Yeah, I think we both agreed that when we talk about the layer zero, we're both like, wow, this is cool that that might not have been able to be accomplished
six months ago or a year ago they don't necessarily have to be big huge things i think the shadow one
was a great example um i i feel like a lot of inspiration from from pancake swap i would be
you know i wonder if maybe that's that's one that you really liked. Just everything about the decks, the usability, functionality,
all those things we talked about.
Or if there was another one completely off the charts that you...
And where Pancake has gone.
And like now, like with us here,
with this kind of like fully iterated multiple forms of V4 liquidity,
you know, the bin liquidity and the CL liquidity.
And knowing how hard that was,
you know, definitely Pancake is on my list of two.
they used to be a little bit more open source than they are now. So now, you know, they used to be a little bit more open
source than they are now. So now, you know, I don't think it's a coincidence that you don't,
like when you look around the landscape, there's not very many DEXs out there. Maybe there's two
or three counting us in them that have, you know, LBA, LB, A, M, M, and, and, you know, the uni V4
concentrated liquidity. And that's because, you know, the UniV for concentrated liquidity.
And that's because, you know, the architecture behind kind of like how you have to serve all of that up to the user is stuff that you've got to build yourself.
So knowing how hard it was, especially in the build process to do that is certainly enormous respect for Pancake.
And I also love that they have a bunny and Pancakes.
I still don't fully get the connection,
but I think they do a great job of being very bleeding edge. And I'm super proud to say that I think we're right there with them
and also keeping it simple.
So I would say Pancake won.
The second one is actually Coinbase.
Not like, I'm not saying not base, but I'm saying Coinbase and like what Coinbase has done.
And this is actually what I draw a lot of like ongoing inspiration from is like what Coinbase has done very well is abstract away a lot of the stuff for users so it's like and i i this has hit me in the last month with
different friends that are have onboarded or are onboarding because they want to invest in omni and
they're like never done crypto before or maybe they've done a little bit and they bought and
lost money on dogecoin or something like that um so walking through that process with them and just
seeing like oh yeah coinbase makes it pretty simple.
Like they make they abstract away a ton of stuff for you so that all you've got to do is like connect your bank, send the money, buy the coin.
Congrats. And I think that's something that I want to see us do a lot more in the next month is like draw inspiration from that where it's like simple, simple, simple.
Like the more that you can can the more hassle that we can
abstract away for users the better and they do an excellent job of that and i think we can do
we can do an excellent job too um so i'm excited about that wow the i didn't see coinbase coming
i don't know why i wouldn't have but i totally agree and you mentioned mentioned that in one of your answers earlier is that when you get full adoption, when we reach peak of crypto adoption, people will be using it and they don't know that they're using it.
base app of removing those those bottlenecks or shortcomings that it takes to get people in people
that have been in crypto for a long time probably know the headache it was to get money from
your hand or your bank and get it on chain and those barriers are just they're just being removed
by the day but you know almost hourly and once we're at that point that's when we can we can see the huge run-up
when you're using your playstation and buying skins or games and and those transactions are
being done through the blockchain and not paypal or stripe or something like that that's when we
will have you know big adoption and of course probably the the price increases accounting for all those new users coming on chain.
And yeah, I'd love to see us move.
Like, it's a huge priority for me.
And I think for the team in the next month or so, it's like, how can we do more of that?
Because I think, I don't know, maybe it's a non sequitur, but I was on a call with somebody that was trying to transfer money out of Coinbase so that they could participate in the public sale.
And when he sent the money, like it had taken him a long time to get the money like through from the bank.
And I don't know if they did ACH or wire like it was then the money was being held by coinbase and they were waiting which that that's
the way it is and then uh he moved all his money at once like single transaction just send all the
funds into the pre-sale and when he did it he was like whoa that's really cool right it's like yeah
it is really cool so like yeah the more that we can the more that we can keep that in mind and
like also keep first-time users in users in mind and abstract stuff away, the better.
Now, you touched on some V4 stuff and I want to talk about that a little more in depth.
But first, I just have one quick question because I'm actually really curious because I don't think I've ever asked you that.
I don't think I've ever asked you that, but I have seen this coming from an IT background.
But I have seen this coming from an IT background.
Like, what are some of the security risks that you might see on a daily or a weekly basis that people have no idea that we're fighting off?
Like, we hear about these hacks.
We hear about these DOD, DOS attacks and all this stuff.
Like, are you fighting a lot of that off every day?
Is it as common as we think
it's not um and hopefully that's a that's a relief for right for users like i wouldn't i certainly
wouldn't want to hear like a developer be like oh my gosh yeah if we're not on it like we are
screwed um yeah so it's like you've got uh you have like a i'll just say like there's a there's
a reason that uh when you use a certain liquidity contract like our v4 contracts or whatever like
we're not going off and writing our own and making stuff up and like let's this seems better let's
try this like there's a reason um for the kind of the notion that's out there in the space that's like, if something works and it's audited
and it's proven and it's tested, it's been attacked
and it doesn't fail, you don't need to change that, brother.
And that creates a high level of trust from users
that you're not using some custom crap
that exposes them to risk.
And we feel very strongly about that.
And that's why I think our, um, contracts again, shout out to the backend guy. Um,
our contracts came back from our audit with like a pluses. So, um, feel really good about that.
Um, from, uh, uh, like security perspective. I mean, we have a, we have a pretty good, uh,
infrastructure in place. I'm not trying to tempt fate or anything, but, um, you mean, we have a, we have a pretty good, uh, infrastructure in place.
I'm not trying to tempt fate or anything, but, um, you know, we've, we've, um, I don't want to
like, I don't want to say too much on it, but I think we, we have been willing to make sure that
we spend, uh, protocol money, like, uh, rather than it be income, like we'll spend it on
infrastructure. Uh, cause we want, like spend it on infrastructure uh because we
want like it's back to one of the first things i said like use our site we want it to be
fast we'd like it to be perfect we want it to be quick we don't want downtime we don't want any of
that so it's been it's been a um it's an investment and we've definitely made that investment and i
won't talk about like all the different ways that we've done that because
no no point but um but yeah certainly i think if you're willing to like spend the time effort and
money to set yourself up properly then you can you can fend off a lot of stuff well said well said
okay so we're in this new age now of v4 liquidity and all the variety of options you can do with that
i don't know if people have a full understanding can you give me in sort of simple terms what is
the difference between v2 liquidity v3 liquidity and now v4 liquidity oh man all right dang
Oh, man. All right. Dang. At least you didn't ask me.
Explain this 1,000-page book to me in 100 words, please.
V2 is, if you were around in 2020, everyone was using V2. V2 means you deposit 50%. I hope I don't
get something wrong, by the way. That'd be super embarrassing, and everyone is going to roast me if I do. 50% of asset A, 50% of asset B.
So USDC and wrapped ETH, 50-50 and your liquidity stays 50-50. And that's basically the way that
it works. It is full range, which means zero to infinity. And that is like your OG liquidity pool. That is V2.
V3 introduced the concept of custom ranges. So rather than providing liquidity from zero to
infinity, you can provide liquidity for that USDC wrapped ETH pair from $3,000 to $4,000. And that has a multiplier effect
on the depth of that liquidity, which means that a trade can route through those pools a lot easier
than it could at zero to infinity. So that's the concept of concentrated liquidity was range bound, you know, being able to provide custom ranges and provide liquidity inside those ranges to basically maximize the value or the effect of that liquidity.
V4, and there's a couple of different kinds of V4.
You have the LB V4, which is the bins.
And then you've got Uni V4, which is the bins and then you've got uni v4 which is the cl um and so you know without
like going down too far in the rabbit hole um those just introduce um oh man cv all right i
don't want to get too far down in it but like your definition of v2 and v3 was fantastic
yeah it's i feel to me i feel like the jump from V3 to V4 doesn't feel as drastic as the jump from V2 to V3.
Because in V4 CL, you're still picking your range.
But you can have a custom V tier or you can have a hook that's deployed on that pool that allows for custom V tiers or variable V tiers based off of what the market is doing.
gas efficient um and you know that i'll i'll leave it at that uh the bin thing is totally different
i think the bin thing is super cool um i actually i think i prefer that to to the cl but i haven't
tested it out enough as a user to know which one is better um but it's you know you're just seeing evolutions inside of
this game which is and the game is like how do you get uh you know the best and most effective
liquidity for users um when it comes to a blockchain and our ability to trade on that
chain right and so uh v4 is like a big brain iteration on the v3 idea whereas v3 to me felt like a big shift um that's just my personal
no it was a big shift it absolutely was and and i see the difference in in v4 um and and we're
going to see even more room for expansion that will keep us in that in that v4 model you mentioned
hooks and i'd like to get to ask you about those um in a few more questions i
have so so we will go back to hooks but i think that was a fantastic explanation so people that
that are hearing v4 now and maybe feeling a little overwhelmed or a little intimidated by the whole
thing maybe don't have as much to fear as as they think that that that they can navigate through there and and using
omni exchange makes that process as easy as possible for them to do that sorry say that again
i was listening but i just thought you were making a statement yeah i i sort of was my question is
like okay okay yeah yeah that there's no need to be scared of v4 if you're familiar with v3
and how our site leads you through that path of making those pools
and doing all the tasks that you're trying to do.
It's not as intimidating or overwhelming as people think.
It should be very simple.
I mean, it's maybe easy for me to say,
but I think that the way that we've laid it out is like uh would you like to do this what assets do you want to do you want to do um
do you know what kind of pool type you want if not here's our docs you can read about the differences
um set your fee set your amounts set your range etc um and and it should feel if you've never
done it before it should feel highly sequential it should feel, if you've never done it before, it should feel highly sequential. It should feel like, okay, I've done that. Now I need to do this.
It should not be overwhelming. And I, you know, I think that our, our docs hopefully are doing a
good job of kind of explaining it and walking you through it. But it, it should feel like a,
it should feel like a, I did this step, now I have to do that step, and it should not feel overwhelming.
I did this step and I have to do that step and it should not feel overwhelming.
And I know a big focal point for you was continuing to build out those docs,
adding in videos as we make them and keeping that updated to the latest information we have
to help the users along as well.
So that's really great too.
A few things that hasn't really come up on this discussion, but in previous discussions, we've mentioned it a few times.
And that is we're saying that base is our main liquidity layer.
What does that mean or what's the difference between base being the layer if we're on all these different blockchains and we have those pools?
if we're on all these different blockchains and we have those pools?
Well, the Omni token's liquidity in large part will be on base.
And so that's important for us.
And that doesn't mean that we won't have Omni token liquidity on other chains as well.
But what it does mean is that, you know, we want a good liquidity pool for the Omni token and we want it on base.
And we like, we love base.
I was shouting them out earlier.
So I think it's a great place to build.
And we've enjoyed, you know, I enjoyed meeting some of the base guys at ETH Denver the last
So I feel like it's a great place to be and i think for us like practically
what does it mean that it's our main liquidity hub it means that our token uh the liquidity is
primarily on base we're not going to fragment that that's that's not good for the token um
meaning like we're not going to divvy that up 15 different ways um and just have thin liquidity on
15 chains that doesn't make any sense so um that's where our
that's where our token lives that's its home and um you know there there are some kind of like under
the hood pieces of what it means for base to be the main hub um you know another thing would be
like you can only lock omni for ve omni on base um you can vote uh on base for other chains but
the voting has to happen on base.
So there's just some practical kind of considerations for that as well.
Now, previously, you had mentioned hooks.
Can you give me kind of, for the people that don't know what a hook is
or what it might do, can you give me a quick explanation
and then maybe an example of how
a hook would be utilized yeah sure um so hooks are uh and again keep in mind i'm not i'm not
your back end guy um but hooks are basically something that you could i'll try to explain it
maybe in layman's terms um that you can attach to a liquidity pool.
So like you can have a swap hook that has a special function that when a swap goes through
that liquidity pool, something happens either before or after the swap. Okay. So that's an example. You can have liquidity hooks that would allow you to have dynamic fee tiers.
So that could mean that during a period of high or low volatility, whatever those conditions are set, you can modify your fee tier accordingly.
your feet here accordingly. So the strategy behind that is, you know, that's not like,
not necessarily my business, but, um, the strategy behind that is basically like, you can,
you can modify some of your stuff based off of what the market is doing. So it's not fixed.
It's not a static it's, it's dynamic. So that's a, I mean, that's a cool thing. Um, and I think
it, it opens things up for, um, for users and folks who think creatively about market making, that you could have a pool that maybe the fee tier is changing based off of conditions.
That was an easy one, CB.
Yeah, that was easy. so you mentioned v-omni
let's let's talk v-omni you've sold me i want to buy it where do i get it where do i go
you cannot buy uh you cannot buy v-omni it's not a liquid token um the only way that you can get
v-omni v-e-omni would you say v-omni is by buying the omni token and locking it so that is
what that is what v-omni is it's uh it's locked omni so if you have omni you can go you go to the
site and you go to omni the omni staking page and you can lock omni for a variety of durations.
I think it's a week up to four years.
And then you'll get a proportional amount of VE Omni back to you.
At the conclusion of whatever you lock, let's say you lock it for a week.
At the conclusion of that week, when it unlocks, you get your Omni back.
So you're not getting a proportion of it back.
You're putting it in the bank, and in exchange, you're going to get VE Omni.
And then when that time is up, you get your Omni back.
So that way, because that was one of the questions I had.
If I'm locking up 100 tokens, but I'm doing it for six months,
and there's a drastic price move,
does that mean I'm going to get almost the dollar equivalent back
or am I going to get that initial almost encapsulated amount of Omni?
And you did a good job of answering that and saying, yeah,
what you locked is what you're going to get back,
but based on the timeframe you lock it is proportionate
to the amount of V Omni you'll receive at that time
at that locking time you nailed it you nailed it perfect and then when we have that v-omni
that's when we can go and start doing our voting um yes for the certain pools and in return we
we earn what from doing the voting. Did you say we're,
what was that last part? Well, what do I receive?
I just placed a vote for a pool.
Now sort of what happens.
And I would say one thing I wanted to add is I do think this is a cool
And I know that I'm pretty sure we're the only ones that are,
this VE system. So V2, V2 v3 v4 and this this ve system uh so v2 v3 v4
liquidity and a ve system uh running side by side which i think is cool um i i like conceptually or
like theoretically i think the idea of getting a proportional amount of voting power based off of
how much you lock and how long you lock it like intuitively that makes a lot of
sense to me because it's like if you're a big believer um in in the protocol and in the the
business and the team and like you decide to to buy a bunch of omni and lock it for a long time
like you should have more voting power than if me if i I'm, you know, I'm like, let's see how this goes.
And I lock it for a week and it's the same amount of Omni.
Like, it makes sense that the folks that are really invested in the protocol have say over how the protocol runs.
You know, I think that's a, that's a, it's intuitive, but it's also a cool system.
So I think you asked, like, what do you get for that?
Like, what, what's the benefit?
Yeah. So, like, what do you get for that? Like, what's the benefit?
Yeah. So like two big things. Number one, and I've been working on some of this stuff to the kind of our voting process. Number one is you get to vote on where the Omni emissions go. So like,
that's a very simple and very like concrete, powerful benefit. You you have VE Omni, you can go in and you can look
at what's available to vote on and you can cast your vote for, I'm looking at it right now,
USDC WBNB or RaptEeth Omni, et cetera, et cetera. So there are options there that you get to vote
on. And then the emissions follow accordingly. So if you have voting power and you're voting for certain pools because you're in those pools and you'd love to earn on those pools, like, do I have good news for you?
So that's the first thing is like the kind of literal ability to direct protocol emissions, like what we reward, what has those high APRs. That's the first thing.
And the second thing is just revenue share. I don't want to get the facts wrong, but my
understanding was 5% of protocol revenue gets kicked out to VE Omni holders. So if you're
holding VE Omni on a, I don't recall the interval offhand but like on a regular interval
you're getting that five percent of omni exchange revenue kicked out to you um so you know you're
getting your tokens back at the end but in the interim you're earning based off of how well the
protocol does and you get to that's revenue share and you're also having kind of the power influence
on the protocol's direction so those to me are the
kind of the two biggest things and i you know honestly i have some ve omni and i've been
voting and i kind of i kind of like it i think it's i think it's a good system yeah it's going
to be incredible when people start earning their they get their first rewards and you know i can't
wait to see the buzz that creates people posting how much they were getting for their votes and all that good stuff.
And that's all ahead of us.
Like, and it's not that far away.
So it's super, super exciting stuff.
Can I, if I've got, I've got a hundred V Omni and I want to lock it down for a week to test and I'm like, okay, everything works good.
Can I relock that same 100 v omni now for a year or
four years uh so you take a hundred you lock it for a week uh it goes good which it will um can
you then take it and lock it for a year four years unlocked and i've got it back in my wallet can i
relock the same omni yeah i don't need to buy more i can do that i mean you
can buy more if you want to but but there's no uh it's not like uh it's it didn't expire you know
you didn't yeah you didn't you didn't use it up or anything you can tell you can 100 re-lock it
you can also extend the lock before it expires now this one this is this is i think um i'm not going to hold you to
this because this we'll have to see how everything goes but who do you expect to do better in the
long run um do you think that the liquidity providers will end up kind of being more
profitable or do you think the v omni lockers will will be more profitable if we gave it a year as as the time frame
cb is trying to get me shipped off to prison for giving financial advice on a public
twitter space nice try buddy i'm not falling for that one they'll just have to log in and figure
it out for themselves yeah no yeah uh i you know i don't know. I think like, I mean, to me, it's a both sort of situation. It's like if you're providing liquidity and you're earning on that position, right, like you're earning your fees.
to have a say in like hey let's tax some extra rewards onto this pool that i'm in like because i
i my jam is like you know bnb usdc on on on uh on bnb chain um so it to me it's like logical that
you'd want to do both at the same time where it's like you're providing liquidity you're earning
fees if you have the omni then you're going to earn a portion of the the protocols uh revenue
and then you also have the ability to direct emissions to the pools that you're in so um i
don't necessarily see them as as being um in conflict i would say like the opposite they go
together really really well um so it's a it's yeah's a play that like, I think makes sense to do, um, at the same
Um, now with that said, I'm not going to jail.
Can't, you can't trick me into giving financial advice, but, um, you know, just like the way
that the system works, it makes sense if you're providing liquidity to, um, you know, to have
a say in the emissions, you get extra rewards on those pools and you earn like some of the
protocols money at the same time. those things go together absolutely and there you have it folks
not financial advice jump is it is an nba all-star not your financial advisor not a financial advisor
with that being said who's going to win the the upcoming championship this year? Who do you like coming out of the NBA?
Think about this for a second.
Man, honestly, I don't know.
Who's the favorite right now?
I'm a big sports guy, but I'm not an NBA player.
I'd say the Thunder are still the ones to beat.
Is SGA going to foul his way to another title?
The Canadian SGA is SGA going to foul his way to another Canadian SGA will be leading,
leading the Oklahoma Thunder probably to another championship,
driving into the lane and like throwing a shoulder into somebody and bouncing
off so he can shoot 400 free throws.
is a true grinded out team.
I'd like to see the Knicks do well, but we'll see that um hey one other thing you have more questions or can i do a
little plug no do your plug do your plug nice all right this uh twitter space is brought to you no
i'm just kidding um i want to plug our portal um because i built that and uh it's it's literally
linked up at the top of our website if you're on desktop if you're on mobile it's literally linked up at the top of our website. If you're on desktop, if you're on mobile, it's in the little pop-up.
And if you are using our site and you see something that doesn't make sense to you,
it doesn't work the way that you think that it should.
You want an explanation like what the heck is going on here?
You want to come in there and insult me?
And what you can do is you go into the portal.
It's at omni-exchange.dev, D-E-V.
You can submit a bug, like you click report bug.
It allows you to drop screenshots in there. You can't do more than three,
but you can drop screenshots in there.
You can explain what you're seeing or what you don't understand or what you don't do more than three but you can drop screenshots in there you can explain what
you're seeing or what you don't understand or what you don't like and it routes to the team portal
which you can't access but we can and we can see all of those reports so if you have a question
someone from our team me or maybe another developer but certainly it will be a developer
one of us will respond to you directly and you
can see our feedback. Like we may have a question for you, like, what do you mean by this? Or what
were you doing when you got this, you know, bug that you encountered? And it allows us to
communicate back and forth. I'm going to add in an ability to like add your Discord handle if you
want to, if you don't have to. All it will show me when you submit that is like your
wallet address um and that's a way of just like so i can identify unique users rather than like
just anonymous um it's still anonymous obviously um but all it shows us is like the connected wallet
address and that's it and you can give us feedback ideas bugs whatever and uh just like we built that for people
so that um i think that's i think that's cool like a one-to-one kind of connection between the users
and the and you know the team and you can also use discord i know some people do and i think
that's great too but if you're ever using the site you're like this is stupid uh you know in discord
you can't always drop um pictures in but you can here you can just screenshot something drop it in and one of those
will get back to you you know probably within a day or so excellent plug so that's it right from
jump if you're one of those people that that has a question and always wants to speak to the manager
head over to the user portal and you're getting you're getting the manager every time when you fill out that form.
So I really appreciate Jump giving us a look behind the curtain tonight.
I hope that it was interesting for the community because it certainly was for me to hear about,
you know, the behind the scenes stuff that we don't focus on enough in marketing.
But if you don't have a strong product or you're lacking in in these areas
that jump spoke about your product's just going to be a pile of crap and he him and his team and
the rest of our team have done an amazing job um it was so hard during those those last months of
of base swap not being able to like fill you with on all this news and all this stuff. It seemed like we were going through a lull where in the background,
it was just constant work, constant stuff.
And we just weren't ready to release it because you have to do it in a
proper, in a proper way, in a proper order. And, you know, we,
we've done that. We've built an amazing product.
We want you guys to use it, get on there to buy omni lock
omni do your thing we are almost fully fired up it's it's gonna be a great time um you know the
best is yet to come and we're not that far away from it so i really thank jump for his time this
afternoon uh like i mentioned this space is record is being recorded so you'll be able to listen to it
later on from from our twitter feed and i plan on breaking it into probably two videos and uploading
those to our youtube channel and then tomorrow hopefully i can find some good nuggets within here
and and throw those out as as youtube shorts as well so i thank jump i thank everyone for joining
us here today i do want to do a little
giveaway same as as we did last time we'll drop a little contest in the omni general chat in discord
i won't wait as long as i did last time and have 100 names added to it so i'll probably draw that
in an hour or two so look for that in the discord big shout shout out to Jump. Big shout out to everyone here listening today.
Does anybody have like, if anybody had a question or something,
maybe nobody's got a question.
But if anyone had a question, I'd want to answer it.
Yeah, if there's any questions, I always just get on my little roll
I didn't know what the rules were. I'm new here in in the ama space i just didn't know no yeah yeah usually they'll
put up their hand and oh the little hand icons i am very bad at just calling it an ama and then
the only person that gets to ask questions is me for some reason
but it's unspecified who asked the question you know i
feel like you're within the rules yeah and i try to pick questions um you know and i never tell
these guys what questions they're gonna get but i try to pick questions that i feel the community
would would want answers to or or be asked of so i think we're good for right now if anyone wants to come and drop any questions in
drop them in the discord head over to omni.exchange ask it in in that dev portal give it a try we've
all used it it's worked fantastic as john mentioned it's a whole nother layer layer of support
that our project is able to to have to offer in conjunction with what's happening on telegram and our discord
tickets as well so this was a really good space um i really enjoyed it it was funny a lot of good
information i really appreciate everyone joining i think that will end this um hey one more thing
cv thanks for having me i really it. I had a lot of fun.
I do want to say Jays suck.
And then also the Leafs suck too.
You must think it's the opposite day around here.
The Jays are like the best team in baseball.
I just wanted to jump on.
We'll let him come up and here comes,
here comes trouble. Yeah. I just, you know, there's,
there's been a lot of videos of you know, the,
the team lead Madrid going around and, you know,
it was a really good looking guy. And so I'm just curious how,
how intimidating I've seen nothing. How, how,
how intimidating is it to work with such a good-looking fella?
Just curious on your thoughts.
Yeah, I mean, I think we're all used to it by now.
I think, you know, when we go to Eat Denver and we're meeting with folks,
you'd think it'd be an advantage, but it's not because everyone's so distracted.
You know, you're trying to talk to some guys from base chain,
and he's getting swarmed by people that just want to look at him.
I think we just got to figure out a better way to leverage his good looks
When you're just spectacular at everything,
it just almost seems normal because nothing really stands out anymore, right?
If you had to choose between Madrid or Ayush,
You're the only one on the team that is is is using a pc like we're all
using max and you're you're always talking about how great your little fire tablet how do you have
i have the same computer how do you have that when you like go into the hedge when you're
homer simpson and oh yeah to the hedge all i know is all i hear is all these devs crying that their computers are overheating and dying and
you know they have been overheating windows windows doesn't windows doesn't have that problem
yeah but you just find like minesweeper and like
mine sweeper takes a lot of fucking ram man you need to relax
you need to relax so You need to relax.
So Jumps giving it back and saying it's not the computer, it's the user.
Part of it is the computer.
If you're doing minimal stuff, you're not going to overheat your 16 megabyte graphics.
I do want to apologize to Minesweeper.
No shit intended at Minesweeper.
I think that that's where we'll end it here.
And watch for the videos on YouTube.
Watch for the giveaway in the Discord.
Like I said, I really want to thank Jump for coming out
and sharing his experience and his info and his wisdom
and all that good stuff with us
and giving us a behind-the-scenes look at what to to truly release a product like uh omni onto the market and and we thank him for that
so thank you community that's it for me cv jump thank you man really appreciate it uh thanks
everybody for listening too that's cool i really enjoyed it and that it for today. We'll see you in the next one.