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Recorded: Dec. 13, 2022 Duration: 0:34:19

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We add some more paper in here.
Okay, we're back in business here. I have no idea what happened, but let me...
invite you to co-host I'll invite Caesar back as well
Yeah, no problem.
Okay. So yeah, it's just, I'm not sure if it's my phone or try to space as in general, but yeah, if we drop out, I'll just try to recreate another space. And hopefully everyone will join back in.
Oh yeah, transferred.
So you were kind of mentioning some sports markets. Like you see that as being kind of something that you'll see a lot of on the protocol, getting a different
different sports markets? Yeah, I think so. I guess we'll see it really comes down to the users. Also, I just want to shout out to Boehme Thai.
He's one of the core contributors on the team. He's been doing a ton of moderating on the Discord and just want to say, "What's up?" Well, if he wants to come up and
Yeah, thanks. Yeah, so I think it's really up to the community. I think we'll see. Yeah, also, sorry.
just a little bit of feedback from you. Yeah, it's up to the community. I think people might be hungry for it. Sports generally is a pretty large industry when it comes
to when it comes to people wanting to try and make some money off of that. So yeah, I think we'll see. The point really is to get the community to
the point where really anyone can come in and send you permission to create a market. That's where we'll really see the network effects start to take effect. And the markets themselves,
that come onto the protocol, or at least this iteration of the protocol will have to go through some type of governance setting, but generally the long-term vision is for everything to be at least semi-permissionless.
Is creating a market something that you can end like some kind of reward for or is it yeah? Absolutely. Yeah, so the idea I think short term it'd be really cool. It's the if the community wanted to Have some reward for
creating a market, you know, basically like coming up with all of the terms for that market, right? Like, okay, here's the Oracle, here's, here's the risk parameters, here's why this is really cool, here's how much volume we could expect from it, blah, blah, blah. And then one
longer term, the idea is that having semi-premissionless markets involves some type of proof of stake model, which would allow you to put down some OVL as cloud
And then you would earn fees on that market, right? Like so if you had a really cool idea for a really new interesting market and then, and then you know maybe you can put down a certain
amount of OVL as sort of backstopping collateral to that market, then that market gets a ton of volume. That can be really fun. It'll be really interesting for users on the protocol.
So that backstopping collateral, that's sort of because you can have a market for anything, but the market is traded in OVL. So putting down that collateral is essentially
What kicks off the market, is it? - Kind of a live-in swag saying it. - Yeah, I think the important thing, maybe the distinction that you're trying to draw is, it's not so much that.
Maybe backstopping glideros is actually the wrong term here. Maybe the right term is basically like kind of proof of stake. Like you're putting down like a market as an idea and maybe you
even providing data for that Oracle, you're incentivized in some way, even if you're not providing data, you may be incentivized to
to have people make bad decisions on their positions on how market. And so it's kind of like holding collateral against here for that market. And then if you want to withdraw, you can withdraw.

FAQ on Overlay | Twitter Space Recording

What happened to the conversation in the middle of the podcast?
The connection was lost and they had to add more paper to continue the conversation.
Who did the host invite to co-host the podcast?
The host invited the listener and Caesar to co-host the podcast.
What type of markets do they see being added to the protocol?
They see sports markets being added to the protocol.
Who is Boehme Thai?
Boehme Thai is one of the core contributors on the team and has been moderating on the Discord.
What is the goal of the protocol?
The goal of the protocol is to get the community to the point where anyone can come in and create a market.
Will the markets added to the protocol be permissionless?
At least this iteration of the protocol will have to go through some type of governance setting, but generally, the long-term vision is for everything to be at least semi-permissionless.
Is there a reward for creating a market on the protocol?
Yes, there is a reward for creating a market, and short-term, it could be for coming up with the terms, while longer term, it involves a proof of stake model for earning fees on the market.
What is the purpose of the collateral for a market on the protocol?
The collateral, which could also be thought of as a type of proof of stake, is to hold against a market to back up the market as an idea, provide data for the oracle, and incentivize good decisions.
What is the market traded in on the protocol?
The market is traded in OVL.
What happens if you want to withdraw from a market on the protocol?
You can withdraw from the market.