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Pyth x Sei: Let’s Sail!
Recorded: Nov. 7, 2023 Duration: 0:47:18Space Recording
Full Transcription
All right.
Yo, loud and clear, Grover. Good morning, everybody.
Good morning, sir. How are you doing?
Loud and clear. GM, everyone.
GM, GM. Can you hear me okay?
Yes, sir.
Nice, nice. One minute before the gong and Twitter space hasn't crashed. Seems like we're on a roll.
Yeah, Elon's been working hard in the background to make sure things improve. It seems like we have 57% less space rugs than we did previously. So I'm pretty happy about that.
All right. Send it to zero. Because I think the last time we did one, but it was in ICNS here. It was with FlashTrade, an application on Solana. And I think in one hour we got drugged three times. It was pretty sad.
I guess it's as crypto-native or used to it. Or at least we are aware that this can happen.
Exactly. Great. Exactly that. Nice.
Cool. We already have some people in there. Welcome, everyone. I'll share also in our socials. Just to be sure, we have a plethora of people listening to us today.
All right.
Our room's getting filled a bit. And it's 2pm on my watch. We can start slowly. And maybe my first question will be for Grover here. It's going to be a bit half unrelated. Do you actually sell yourself or not?
Because that's...
No. No. I sadly don't. In fact, I don't think anyone on our team does. I'm trying to think here. Joe, have you heard anyone on the team say they actively sail?
No. No. I'm landlocked in the Midwest. So I guess we have lakes. But no.
It's a bit like...
We're kind of fake sailors a little bit. Yeah.
Right. It was that movie, Surf's Up, where the chicken is surfing on Lake Michigan. It's a little bit like that.
Yeah. That's me.
No one on our team's sails, as far as we know. But there's always time to learn and improve.
Exactly. Bare more kids off of these. But amazing. Now that we have put the most important question behind us, I think we can kickstart.
First of all, GMGM, everyone. Thanks a lot for joining this space with the wonderful SAI team.
I'm Mark from the Pith Network, working for the Pith Data Association.
And overall, we'll touch upon in this space various topics, mostly, of course, related to SAI generally, Pith generally, and after, of course, the combination of Pith and SAI equal DeFi.
So I think we'll arrange on quite some few topics. Maybe for starters, we can talk about what's going on in or what we're going to give out during this space.
I'll first start with the Pith gift. And maybe after Grover, you can mention what's in it for the sailors.
But on Pith end, so we'll talk for, let's say, 40, 45 minutes, however the flow goes on.
And towards the end, we'll open up for Q&A.
You can, of course, at any time, send questions in the comments of this space, and we'll tackle them at the end.
But on Pith end, we'll pick up two questions from the community, and we'll give out a deck of tarot cards.
So tarot is, like, about reading your future, kind of your destiny from cards.
At the Pith Network, we've created a regular card game, which is all kind of Greek-themed.
But most recently, and it kind of fits the crypto vibe of predicting what's going to happen in the future, we released tarot cards.
And actually, last week at Solana Breakpoint and next week at DevConnect, we'll have a tarot card reader coming with us.
And so anyone that chats with us will be able to know his future and short or long it if they want to.
Anything on your end, Grover, you want to announce for the sailors for this space?
Yeah, so as part of this space, two lucky people who ask.
So if you ask a question in the comments and you drop your SAI address down there as well,
then I think the guys here will choose two questions, and those people will win 500 SAI tokens each.
So feel free to ask away.
Good questions, please.
And we'll answer them the best we can.
Amazing, amazing.
Thanks.
Now that we have the general structure on, we'd love to hear maybe a minute about yourself, Grover and Sailor Joe.
Very much up to you, what you want to reveal, but where you're from, how you got into crypto, anything.
Sure, I'll go first.
So I go by Grover around here.
I live, I'm from the UK, but right now I live in Central Europe.
Originally, so I've been working with the SAI team as the marketing lead for the past, since sort of March, April time.
But originally I got into Web3 in 2017.
So at that time I was just like a normal sort of buying Ethan and things on centralized exchanges, just getting into the swing of things.
But it wasn't until sort of 2020 DeFi summer and sort of understanding a bit more of the potential of the space and, you know, where it could end up going.
And that's, I think everybody here probably has the same eureka moment, like, oh, wait, this is actually very, very important.
This is very substantial.
So, yeah, I just got really, really excited about all of the sort of opportunities opened up by smart contracts and what was going on around 2020.
And, yeah, stuck around until now.
It's been a pretty brutal last year or so.
But we think, like everybody here, you know, obviously the real ones have stuck around and still engaged.
So, yeah, that's super briefly.
So, yeah, now I look after marketing.
So I lead the marketing team and say, Joe, I don't know if you want to go next.
Yeah, for sure.
Yeah, my name is Joe, Average Joe or Sensei Joe, which either one.
So I've been on the marketing team kind of working undercover for about a similar amount of time, kind of got into the crypto space when I was at the tail end of my college career and became addicted, you know, and like many others, I just became enthralled with the space.
And it was originally NFTs that really caught my interest.
And, you know, I bought a pudgy penguin, was like one of my first NFTs.
And, you know, seeing that go up and seeing how exciting and fun the space was just, you know, it just made me super addicted to the space.
And I realized that the best thing you can do is rather than speculating is building and working in the space.
That's that was the real alpha.
So I decided to put my posting skills to work and marketed for say and grew the community here.
So, yeah, excited to be here and answer some questions.
And great taste.
Getting a pudgy penguin early on, regardless of the ETH value, this is one NFT I really want to get.
It's just like who doesn't like lovely penguins?
Yeah, very adorable.
And like their IRL stuff is very commendable.
You got to love it.
Did you get the, how do you call it?
The teddy bear or the penguin bear?
I don't know how you call it.
I'm waiting.
I'm waiting for like a Walmart or a Target to have it in my area.
But every time I go, I do look to get one.
But even though I'm a grown man looking for a stuffed animal, you know, you got to do it for the space, right?
You need for the culture.
Exactly.
Thanks a lot for the quick intro.
I'll just do 20 seconds on mine.
So I'm Mark.
By the end, you understand that I'm French given the accent.
I work for the Peace Data Association.
So it's like the Swiss Association behind or supporting the PIF network.
And day to day, kind of jack of all trades.
I'm very not technical.
I cannot try the single line of code.
But overall, BD marketing or whatever come through your mind.
You can just DM me on anything.
And either I'll answer to you or I'll find you a good guy to answer your queries and help you out.
So very much in the attendance.
If you have any questions, whatever, slide into my DMs or tag me on Twitter and we'll see to get your app or whatever you do powered by PIF.
And my intro into crypto, I think I've been working for PIF for two and a half years now, early 21.
It's been a long journey, but it's been amazing.
Like time flew.
I think if I didn't work for a project or building during the PIF, I think it's easy to lose conviction and just interest in the space because like everything goes down and morale also goes down.
So it was very, I think, needed to be into the space, building in the space to actually kind of enjoy, if we can, the PIF market.
But, and actually, I think, and maybe we can just intro after what he's saying, what is PIF, but also like, say launched, I think, five months ago.
I think it was over the summer, June or July, if my mind isn't right yet.
Even later, August, it feels like about a year, but yeah, August is the 15th or something, something like that.
So yeah, almost, where are we now?
November.
So September, October.
But yeah, it was three months, which is astounding actually, because it feels like three years.
And so this is perfect.
And so I think it was a great time to like, to actually come out for a chain.
And most recently, if you put the old TVM on the side, I think like with Uptos, then Sui, and then Say, like you very much get those new type of chain that like, ideally, you want to see a bit battle tested during there, or at least where there is still iteration.
So I think that was a perfect timing.
And so now, would you mind kind of introducing what, like, Say is, or why did Say was built in the first place?
Yeah, so a really important thing to remember with Say, so Say is a high performance sort of general purpose layer one.
So we have all these features that you might be familiar with, with blockchains like Solana, so parallelization, you know, just high throughput.
And we also sort of boast this very, very fast time to finality.
So you'll see us say a lot that we have the fastest blockchain.
And that's because we have the fastest time to finality of any chain.
So the fundamental sort of problem that Say is built to address is sort of recognizing what the key use case of crypto is, or at least what the key use case of crypto has been so far, which is the exchange of digital assets.
So that's really, really obvious with things like DeFi, so that everybody's familiar with Uniswap and, you know, other exchanges on chain.
Obviously, people use those to exchange.
But it's also true of, you know, what drives NFTs.
What drives the NFT market is, well, OpenSea is an exchange, Blur is an exchange.
All of these marketplaces are exchanges.
So, again, sort of everything revolves around exchange.
And then similarly, if you look at gaming, so gaming applications, what drives those?
Like Steppen is the exchange of tokens and swapping shoes and things like that.
So if you sort of recognize, yep, that's the one thing that everybody uses crypto for, at least they do on-chain activity that sort of revolves around these things.
Then you want to build a chain that's scalable and can actually facilitate sort of the largest exchanges and sort of the highest throughput possible.
Like personally, you know, we see this trend every single time there's a bull market.
The volume is even higher next time, right?
So let's see what happens next time around.
No predictions.
But if we do see even higher volumes, even higher throughput, you know, more demand, you have to be able to scale to that.
And so that's why we think you need to build these new sort of paralyzed blockchains.
You know, you don't have to wait for a queue of transactions to execute one by one.
You can do many things at the same time, right?
In the same way that your computer runs on multiple cores instead of just one.
So this is like really clear to us.
So we think, yeah, high throughput, high performance chains is the way to go.
So that's sort of the reason why Sey was built.
We could get into why we didn't build a layer two on Ethereum.
That was a very, very conscious choice, but maybe I'll pause there for a minute before I go off forever.
No, that's an amazing self-question you put forward and I'll definitely want to hear the answer after.
But till now, so in the past three, four months of live, I love this perspective of like trading exchange.
And I think like arguably blockchain and crypto specifically was kind of built for this.
Like Bitcoin white paper is like a peer-to-peer cash network or something like this.
And after even like, as you mentioned, NFT at the end of the day or GameFi, like it's all about exchange and overall all our lives are around exchanges.
In the past three, four months of say mainnet, did you get like, as an initial traction, did you feel more success on, let's say, the NFT side or more the DeFi side?
Because one thing we see a lot is like exchanges, exchanging is great, but whenever gas cost goes up, it's like no one wants to exchange much because sending an NFT or just setting it for $10 of gas, like just hinders the experience overall.
Yeah, it's really interesting.
So for sure, like the user experience side of things, like even with some of the bigger NFT emits, I don't think fees ever went parabolic like you would have seen on Ethereum, that's for sure.
So, I mean, we've seen a few big NFT emits.
We've seen some DeFi activity just like the early days, Perpetuals.
So I think Levana, for example, uses Piths oracles, Astroport is sort of a DEX as well.
And people have, you know, we started to see some sort of initial uses.
We do have sort of, actually, I think later on today, a demo day of 11 new projects launching on say in the coming weeks.
So we're kind of pretty excited to see people come and use those as well.
But yeah, we've seen a decent balance.
There has been some gaming as well.
So there's a project called Tatami and they published a, are you familiar with the game, was it Fall Guys?
It's sort of like a platformer game.
Yeah, so we've got something that's very similar to that running right now, I'd say, which is pretty fun.
Joe, you're going to have to remind me of the name of the game.
But yeah, published by a project called Tatami, which is super interesting to see.
So like a good mix of projects.
Yeah, DoubleJump, I believe it's what it's called.
That's it.
Thank you, sir.
DoubleJump.
So everyone here, go look up DoubleJump.
Must be fun.
I'm not a big PC gamer, but I've seen plenty.
And overall, I think it's one of the greatest or fastest way to, well, I won't say the meme of attracting 1 billion users, but even a million or 100K.
At the end of the day, whether we, and personally, I'm more of a DeFi guy, but like so many, so little people, like so few people care that much towards finance or like owning that part rather than just play games.
So I think like getting those like viral games is definitely how you get 500K or what it's on say.
Yeah, we definitely think like, so the whole thesis there on sort of partnerships and BD side is you want to find killer applications.
And those are the applications that are going to bring in a ton of users.
Like there's no point in building out all this infrastructure if you're not then going to find killer apps.
Like you mentioned, Mark, with like games, you know, that's what's going to send the number of people using crypto exponential as actual applications, consumer facing apps that people want to use that are actually useful or fun.
Yeah, that's where a lot of that will come from in the future, we think.
But yeah, 100% gaming is pretty interesting for that, for sure.
And sadly, today, the Pith Network doesn't have like a product available for, let's say, whether it's games or NFTs or like what you're going to refer to usually as RNG, like randomness, VRF, also randomness, so that like you can whether create new NFTs that are very much random or just have your classic, I don't know, on-chain lottery.
So this is something on our minds.
It will happen at some point.
And looking forward to make this available to say in any other chain, because this is very much.
Also, I think one great benefit puts like this verifiability, the don't trust me bro aspect of like doing raffles and the like is definitely something even regular users going to appreciate rather than just trust, I don't know, your Powerball, like clip that shows you the results.
Now you can actually go verify yourself and maybe, actually, I want to go back already, I think, to one of the questions you mentioned before, or at least the self-question of, so say is a Coswasm-based chain.
Earlier, you mentioned why not going the layer two way on top of Ethereum.
But Pith, like we've expanded to like 30, 35 EVMs, layer one, layer twos, even some layer three, Coswasm chain.
And actually, after I can also mention how Pith is, I think, following a bit the Cosmos Hub mental model.
But we'd love to hear from you.
Why did you make your pick Coswasm, let's say, instead of the regular layer two?
Yeah, so there's a few things there.
And it's interesting that the Cosmosm stuff, we've got some more to talk about on that front.
Maybe some of that later on.
But the layer two side of things.
So a lot of the chains that basically chose to go and do optimistic rollups on Ethereum, there is a pretty big limitation that you said.
But all of them are using the same block space to sort of write and save, compress and save these transactions back to Ethereum in the first place.
So they're all competing with the apps that are already on Ethereum.
You know, you've got Uniswap and all the rest.
So not only are they competing with those apps, they're competing with each other as well.
So what this means is you end up setting a theoretical sort of upper limit, like an upper bound of the TPS you could realistically see, which is something like 6,000.
So when you do that, and that's the best case.
If nobody else is doing any other layer twos, nobody else is building or doing anything on the mainnet itself either.
So what you in reality see, if you go and look at a website like L2Beat, which is pretty good as a source of information, you can see what the actual performance is, which is obviously nothing like that.
So that's why we wanted to go for just, I guess you could call it an integrated, like a standalone layer one blockchain.
And yeah, obviously we see, like we've done these tests, we've done benchmark tests, sort of 22,000 TPS plus.
So that's something that we're always improving on as well.
There's a lot there, but yeah, that's like one of the reasons we think for the scalability, just for the pure reason that you want to maximize your ability to scale.
And you don't want to sort of hamstring yourself because it's super popular to build an optimistic role up on Ethereum at the moment.
And the more there are, the more they're all kind of budging up against each other, right, to try and all settle back to Ethereum.
So that's one of the reasons, one of the most important reasons why we chose to build a layer one blockchain instead.
Yeah, this is making great sense.
And like, even when we are, and if we kind of bring back to, actually, I'll take this angle first.
And I think this, like, goal of, say, being, like, not constrained, whether today or tomorrow from another base layer, I think that is why, from the Pith perspective, we liked a lot and cared to be available on, say, as soon as possible.
And I think we actually deployed on day one of Mainnet, because at the end of the day, Pith being an Oracle specialized, let's say, for DeFi, DeFi apps, like, the whole premise of Pith is arguably making DeFi, like, be able to do what ChatFi does, like, but the good side, meaning the speed and the accuracy, etc.
Like, going on, say, was a no-brainer, because, like, Pith, as, let's say, the Pith inception story comes from Solana, like, 20 and a half years ago, we deployed the Pith Oracle structure natively on Solana Mainnet.
And here, relating to the argument of competition towards the L1, like, the issue of having publishers, like, submitting inputs on Solana, so doing transaction, means that you compete against all the other applications and users trying to use that base layer.
So, it's great, because it gives you this infrastructure, and you can easily build on top, and it kind of abstracts the back end.
Like, it is super costly to be using a public blockchain.
And so, a bit back to the Cosmos way of, like, and personally, I'm very much a proponent of application-specific chain.
Pith, a year ago now, we've launched what we call PithNet.
So, it's, like, the application-specific blockchain for the piece price feeds.
So, pretty much, we forked, did a bunch of tweaks to Solana, and now PithNet is, I think, the first, what we're going to call SVM, Solana Virtual Machine Chain, where now we only have publishers interacting together.
So, like, Pith, arguably, today, the PithNetwork, the prices come from a blockchain that is operated by 90 of the biggest, let's say, crypto, and a few massive TradFi organizations, whether it's SIBO, like, U.S. Listed Exchange, or Binance, or Wintermute, or Chainstreet, whatever.
So, this perspective of competing against everyone else for the same spot, long-term, I think, and I think in practice, we've seen it.
There's never been that many chains, and I don't think it will, like, slow down at any time soon.
On say, because I don't think I've ever seen it on Cosmos yet, on say, does it make sense to have layer twos on top of say, or it's somehow not even the goal?
Oh, yeah, 100%.
Yeah, in fact, we already have one being built on top of say, so called Nitro, and Nitro actually uses the SVM as well.
So, it's Solana Virtual Machine, optimistic roll-up being built on top of say, which is really cool.
So, I think that team are back up and running pretty well at the moment.
So, definitely check out the Nitro page if anybody's interested.
Actually, Joe, what's their at?
I can't remember, at the top of my head.
I believe it's Nitro SVM.
Give me one moment, I'll pin it to the top of the page.
Good stuff.
So, yeah, definitely.
And, of course, by having a layer one that's very, very scalable, then, well, if you start to just abstract away just to execution on an optimistic roll-up, then the scalability is pretty nuts.
So, that's something that's really interesting as well.
And, yeah, hopefully we're going to see more.
The execution environment stuff is super interesting to us as well because, so, right now, obviously, we support Wasm, and then we have Nitro who's building out SVM as an optimistic roll-up.
But we think, in the long run, it shouldn't matter which programming language or which execution environment sort of you're using.
And so, we want to, that's something that we're kind of working on.
And maybe we'll get into that.
Actually, I see a question further down the list, so we'll talk about that a little bit later on.
So, actually, I had one quick question for you, Mark, because I see there's a lot of sailors here who might not be familiar with what an Oracle actually is.
So, maybe, like, in super simple ELI-5, you know, what is an Oracle?
What's a price Oracle?
And, yeah, what is sort of the importance of that for an ecosystem?
Yeah, definitely.
So, I think Oracle, for once, the industry named a protocol type or product the good way.
Like, Oracle, in real life, let's say, or at least in mythology, was very much like a priest, a priestess, like, talking to the gods and giving to us mere mortals the answer from the gods.
So, it was kind of the Oracle back then, the Oracle of Delphi, and this is why PEF is very Greek-themed, is very much about giving you the facts, giving you the truth.
So, why do Oracle are very important for blockchains, and mostly for, like, decentralized finance, is that many times, like, blockchain are closed circuits.
So, like, on say right now, like, validator on say, user on say, protocols on say, cannot know what's the price of Tesla, of Apple, or even of Bitcoin, if you don't have Bitcoin native on your chain.
So, usually, you'll see that blockchains and applications on top of blockchains are, like, cut off from internet, let's call it this way.
In oracles, and you have a few type of oracles and oracle products in the industry today, the job is very much to bring what we're going to call off-chain data on-chain.
And the idea is, at all times, that you collect correct data, and by the process by which you send this data on-chain, it cannot be compromised by a single entity.
So, the whole goal for every Oracle out there is to, whether it's, it can be price feed, but it can be, like, what's the price of an asset?
It can be, what is the current weather in San Francisco or Singapore?
The idea is the Oracle is going to be able to fetch this data off-chain or somewhere, bring it securely on-chain so that applications can operate normally.
Because, at the end of the day, applications on your blockchain, they are what we call smart contracts.
And, overall, the smart contract is, if you tear it down very much to the, like, to the bottom, it's, I hope I'm not going to offend anyone, but it's pretty dumb.
It just follows a set of rules.
So, if Bitcoin equals X, do that.
If Bitcoin equals Y, do that.
So, it's kind of an iteration game.
And this iteration game starts from, like, this off-chain data that the Oracle provides to the application.
So, it's kind of the fuel or the trigger that will make the application work as it should.
Because, if you start sending willingly or unwillingly wrong data, you're going to mess up with the application, which can, in turn, mess up with the actual assets users hold and use.
Nice.
Nice.
So, for example, if I wanted to do something like a prediction market or perpetuals market or something like that, and it's like, okay, I think that the temperature in San Francisco is going to be 30 degrees next week.
Like, the Oracle would then provide that reliable sort of feed, like, yes, like, we can close this trade.
Like, this market is being dictated by this reliable sort of feed, this information that's coming from a trusted source, basically.
For example, or if it's a perpetuals market, like, the VDEX is coming up as well.
And if you guys want to check out a couple of the projects in this One Piece Hackathon, VDEX is one that's going to be using options and perpetuals trading.
And we'll leverage Oracle price feeds as well.
So, yeah, this is all pretty informative stuff.
Yeah, and I'll take the advantage to introduce maybe Pith a bit more specifically here.
So, Pith is overall an Oracle.
We work mostly with DeFi apps.
And why DeFi?
Because today, I'll say the only product we have are price feeds.
We have about now close to 400 price feeds available on the Pith network.
So, it can be like, I think we have 250 cryptos.
We must be close to 100 more traditional assets, whether it's stocks, ETFs, US rates, things like that, or FX commodities.
So, very much Pith was built initially for DeFi to improve, to make kind of DeFi step up.
And overall, in the past year, since we've been cross-chain, we've expanded to 40 chains with, I think, close to 200 apps now that use Pith.
And I think after Chainlink, we pretty easily ranked number two in the, let's say, Oracle landscape.
But very much, we, like, two years ago, three years ago, when the Pith idea came was, like, when you look at other Oracles, and after maybe here we go a bit to DeFi.
But when you look at other Oracles, most of them can easily collect what we're going to call publicly available data.
And crypto, so far, like, data, you can listen to Binance API for free.
Like, Coinbase is actually now charged for data, but most of crypto data or random internet data is free.
You can scrap it.
You can push it.
Use it on chain.
And the thing comes where, like, and everyone says, like, at some point, traditional finance is going to come on chain.
We'll see how it works.
But by then, that also means that on blockchains, we won't be only trading crypto.
But we'll be trading, like, treasury bills, stocks, like FX, metals, and this in way bigger volume.
And so, Pith, we very much focus into kind of creating a network that can easily access financial data that usually no one else gets access to.
So, this is why we talk about a first-party Oracle.
So, for example, that's why we have exchanges like Cibo, Mimex, IEX.
Like, you have 10 exchanges in the U.S. that trade stocks.
Many of them provide data to pair.
Same for exchanges in crypto, centralized or decentralized, but also traders.
Traders, like, you take jump trading.
They're going to trade, I don't know, Apple stock every millisecond.
They know what's the price.
What is the price of an Apple stock?
So, they are able to provide that data.
So, pretty much this idea of a Web2 way to define Pith is very much like a Spotify or Airbnb for financial data.
We want to attract, like, the supply side.
So, it's going to be those who own or create financial data, contribute to the Oracle network.
And on the other side, you have, so, the demand side is going to be DeFi apps that need this information to make their protocol works.
And given it's a mandatory piece of infrastructure, applications are willing to pay for it.
So, the idea is to kind of create a two-sided market where data owners, creators, are going to talk directly to data users and overall have a very kind of free market environment where, let's say,
you want some data that doesn't exist today on the Pith network, you could come up and say, I'm willing to pay X.
And all data publishers could be like, okay, this is worth my time.
I can find this data.
I can contribute it.
So, the idea is very much to build this financial data marketplace to, like, also enable anyone to get, like, financial data for the cheapest amount possible.
So, because I think today, like, traditional finance data costs, like, for retail, like, a few dozens of thousands of dollars per year.
But if you actually want to get connected to, like, an actual centralized exchange in the U.S., like, SIBO, it's going to cost you millions.
So, very much kind of tearing down the garden world of finance was kind of our goal from day one.
Nice.
Very nice.
What are some of the, do you have any crazy price feeds or very interesting ones sort of off the wall?
Like, obviously, like, Bitcoin and Ethereum and things like that are on there.
But, yeah, anything that's a little bit spicy?
So, we do have, it's still in testnet.
We're working for mainnet and hopefully it's by the end of year.
But we should have all the U.S. yield curve by the end of year.
So, you have, like, treasury bills that go from one month, three months, six months, one year, three years, five years, 10 years, 30 years, I think.
And overall with this, so I don't think any other Oracle have it live today.
This is arguably, like, very hard data to find because not many people do trade directly on the market for treasury bills.
But I think this is going to open the door for not so much direct usage, but for, like, more intelligent or more in-depth calculations.
So, one example is you mentioned an option protocol before, usually option, and I'm not, like, a big option guy either, but when you price an option, one of the factors should be the risk-free rate.
And the risk-free rate, usually you consider treasury bills to be the risk-free rate.
So, with these price feeds, I think you're going to see many of our partners, Bing Options Protocol, start using those to differently price their options, something they couldn't do before.
Let's stratify what could be a nice...
But we do have, if you are, actually, if, and this talks a lot to the Americans, especially, or overall any kind of finance enjoyer, but I'm pretty sure that today the PIF network, like, we have an integration on TradingView.
So, you can actually go on TradingView, search any price feed we have, and not see Binance, but see, like, the PIF prices.
And so, you could chart, let's say, for 60 or 70 U.S. equities for free with live data from PIF.
I don't think there is any other product today, and Web2 included, that gives you live prices for stocks.
And I've been saying that, I think, 20 times, and no one would, like, and I haven't been contradicted so far.
So, I think it's true that PIF is the only place where you can get, for free, live stock data.
You want to check the price of Apple.
If you go on Yahoo Finance or Google Finance, the price you'll see is, I think, 15 minutes delayed.
And that's the law.
With PIF, you get, arguably, like, a price that is maybe a few millisecond delayed.
That's awesome.
Yeah, that's really cool.
So, yeah, like, this kind of, I don't know if you want to take this to the, but actually, I'll let you steer the questions.
I'll hand back the steering wheel, if that's okay.
Okay, no, yeah, and maybe here, one thing that, like, also that I think works well, and actually, I shared it into our Telegram group before,
is if you go check on the Say Explorer, on the top, you'll see the popular contract.
And as I did a bit of research before that, I saw that PIF, the smart contract, alongside with Wormhole, Red Frenovers, are among the top eight.
And I think I've seen there is already 100,000 interaction with the PIF smart contract.
And so, by this, it means that, so, over the last three months, there has been 100K price updates done by PIF users directly on Say.
And the great thing about it is, true to DeFi, we try to build PIF so that, first, it's a great product, but it fits also with the DeFi ethos.
And so, when you integrate PIF, pretty much, it's whole permissionless.
You can bring prices yourself on chain and use those.
And, weirdly enough, or not weirdly enough, Coswasm chains have been the chains we've had, I think, with a couple other EVMs,
the biggest success, whereby, like, developers are first, like, stoked to see, like, a full-fledged Oracle available to them,
and permission, like, permissionlessly.
You don't have to hit us with a DM, be like, oh, please, can I use your Oracle?
How much do I need to pay you?
It's very much self-integration, pay-as-you-go.
So, it's been, and interacting with the Say DeFi ecosystem has been amazing so far.
Like you mentioned earlier on, Levana perps on Say using PIF.
They've been killing it recently on other Cosmos chains.
And then, no doubt, I think Say is the latest they expanded to, no doubt they're going to, like, have great success here.
And I'll mention a couple other apps that are either still testnet or about to launch on mainnet.
But there is, I think, Aero Scrapper from C-Swap that's going to launch soon.
And then, it's pretty much, we call this a CDP protocol.
It's, like, collateralized debt position.
Pretty much, you, what's the equivalent on Ethereum land?
Liquidity, for example.
You can deposit an asset, and you can take a forever loan, interest-free, in, like, a native stable coin that you make.
But, another application we work with is Kawa, Power Lending Protocol.
I think they are in beta right now in production.
So, it's been amazing to see in the past three months, kind of, all, each of the DeFi segment getting its own application.
So, your, like, DeFi stable coin that you made based on collateral.
Your perp with Levana.
Kawa, hopefully, your next AAV.
So, I very much enjoyed seeing the, kind of, the C ecosystem that is builders on C, like, not doing 10 times the same app or just a variation.
Do you have some app on DeFi?
I don't know if you used any, like, Levana already or any other DeFi app on C?
Yeah.
So, the deepest liquidity right now is on Astroport.
So, that's where a lot of the swaps happen.
I'm just, you know, I think it's AMM plus stable swap.
And, they're rolling out concentrated liquidity, which is definitely very cool.
I've been using, interestingly, like, like, Pallet is a NFT exchange, which I was using a little bit.
Buying some ants and some sailors and things like that.
So, the first few NFT collections sort of launching, like, the OG, I guess you could say, the OG, say, NFT collections, which is really cool.
So, yeah.
In fact, I see a few down here in the comments and the space as well.
Little fish-looking characters, which is pretty fun.
So, yeah, I think this, if you look at here up in the nest as well, I think Joe's pinned this little forecast for some of the apps that are launching via the One Piece Labs incubator.
So, you mentioned Kawa, I've got Yakka, and Nitro is in there, the SVM roll-up.
Corner Market app is really interesting.
It's an application basically letting, like, local vendors use, say, as sort of, like, payment rails so they can accept payments via, say, for their local businesses.
I've got an AI app in there, CrownFi.
CrownFi, they're a pretty strong team as well.
I'm really excited to see them launch.
They're going for a DEX as well, but they've got some spicy stuff that I'll let them announce by themselves.
And Indicator Labs is really cool.
I was speaking to that team last week.
It's Predictions with some really, like, inspired by Polymarket for sure, but some interesting takes.
And I think they're going to have some fun with this on the timeline as well.
So, yeah, looking forward to a lot of these teams launching.
And I'm sure Pith is for sure the most popular Oracle, I'll say, by 99%, I think, of all of the Oracle calls there.
So, I'm sure they're all going to use Pith as well.
So, that's really exciting.
Hopefully, it stays the same and we do our best to try to, let's say, stay the best and keep our users happy.
And overall, and it's amazing to see everyone here, like, you should definitely try out, like, even with just small amounts, like, any type of application.
Whether it's DeFi, GameFi, NFT, whatever you like.
I think the best thing to do for you to kind of keep in the loop, like, know where the puck is going, is to just try out by yourself.
This is one thing I keep myself to the standard of anyone that, like, on the BD side, anyone we talk to, I'm going to try their app, etc.
So, now I think I have funds on, like, 35 different chains.
Maybe some fund will be lost forever, but that's for the grind.
A seasoned bridge or, that's for sure.
So, yeah, I wonder if you, I don't know if you want to move on to this point, number six, about the retroactive airdrop.
Speaking about.
And I was going this way.
And I was going this way.
And the other great thing is, at some point, as you use application, and sometimes every airdrop has its rules, etc.,
but you'll sometimes stumble on some responsibility, as the crypto tweeters say.
But more seriously, last week, during Solana Breakpoints on the PIF network.
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