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Radix Recap
Recorded: Jan. 17, 2025 Duration: 1:03:39Space Recording
Full Transcription
Thank you so much for joining us, and we'll see you in the next video.
So, what a start to the year it has been.
Obviously, lots going on.
I first and foremost, hope everyone had a brilliant Christmas, New Year's, any other celebrations you may have had in that period.
How was yours, Dan?
Short and sweet. I was a busy boy, obviously, to get these changes in that we need for the test and stuff. So, yeah, much to Jesse's disappointment. I only had a few days off and I was back at it.
Well, for you and your family, I'm sorry to hear that. For Radix, very glad to hear your harder work on the tests. So, how are they going?
Yeah, really good, really good.
Less things happening. It's less things happening. It's less complicated. There's less things that can go wrong for them while we iron out people's glitches. Like, for example, yesterday, somebody was running a virtual box on a Hyper-V enabled machine and that was causing them problems.
Nothing to do at all with the test itself. But just those little things and learning about those things so we can put them in docs and stuff is very helpful. So, the tests are purposefully quite simple at the moment, right?
But yesterday, we had a fairly big one. I think there was maybe 60 or 70 machines that joined. Not quite the biggest. The biggest one we had in there was just under 100 at the beginning of the week, which was very cool.
And, you know, we punched a bunch of transactions through. We did some swaps, like, I think, 750 swaps a second. We were running out and it was nice. And then a bunch of my validators decided to just die right in the middle of the test, which was a bit of a head-scratcher because I couldn't really figure out why that was.
To clarify, I assume you mean the server infrastructure, not the validators running them.
No. Well, yeah. So, the way that these networks get started off is I bootstrap a load of validators in there, usually at the moment about 30, right? So, 32 yesterday.
And then everybody else joins in and then they start to catch up in terms of their vote power with my validators, right? Because they're doing work and proposals and stuff.
But for a period of time, my validators, the bootstraps, have a significant influence in the network.
So, if a chunk of them disappear for any reason, it causes problems, right?
And the problem that happened last night was the validators didn't, like, crash as such.
They just had no connectivity for some reason. I have no idea why. I still have no idea why I've got a support request waiting with Google to try and figure out if they had some issues there on last night or something.
But, anyway, long story short, it was actually a good test that that happened because it demonstrated the resilience of the Cassandra Consensus Protocol.
So, for example, you know, if that had happened on, say, Cosmos, right, where there's 100 validators and it has pretty much the same safety rules as Babylon and no real libelous guarantee, then it would have just stopped dead, right?
It wouldn't have made any progress. It would have just stopped.
There would have to have been, like, a conference call with all the validators to figure out how to get the mortgage started again and stuff like that.
Um, whereas Cassandra, um, Hikerscale, it just hobbled along quite nicely until I forcefully restarted all of my seemingly unresponsive validators and then it all sprang back into life again and we had nice finality times again and everything was running along smoothly.
Um, so even though it was a bit annoying that that happened, and I still don't know why, um, it really stressed out the network last night.
Um, and it survived that and then I left it running, um, overnight and I believe it got till the early hours and then a bunch of my validators died again.
So, and then this time they, they didn't reconnect because I was in bed.
So, uh, we'll wait to find out why they were doing that.
Um, but overall test yesterday was, was really good.
Um, and it's also cool to see that, like, there's quite, there's quite a gang of people in the Hikerscale channel now.
That are familiar enough with, with the test and getting set up and stuff that those that needed help, like last week, they're now starting to help others because they, they know a lot more about how to get up and running and what possible issues you can have or like network configurations and things like that.
So it's, uh, it's, it's, it's really cool to see.
Uh, it is awesome.
And the caveat or not to caveat to add to your point around the purpose of like these, these tests in the Hyperscale group and stuff like that.
Um, the kind of discussions that were going on in like the main Radix telegram today is, is one of the reasons why these are being run with a, uh, closed group of like participants in, in the, I say closed group, a, a separate group from the main channel.
Why we're not shouting it from the rooftops at the moment, because they're there for things to get uncovered, for things to go wrong to test specific things that aren't there just to make big flashy numbers.
So, um, yeah, yeah.
So I mean, it's, um, obviously as well, seeing as we're, we're waiting around for various things to happen outside of our control so we can kick this back off.
Um, there is opportunity to improve the code base further with, with different things, right?
Uh, like, uh, some, some big tasks I've done this week is to, um, overhaul some of the gossip player because it's, it's very old.
And I think the gossip player that I'm using is a bastardized version from tempo, right?
That's what's sitting in Cassandra because it was just easy and higher scale.
So I've said Cassandra for so many years, it's quite difficult to just change.
And I'm tired, so that's not, um, it was just easy to lift that gossip player out of tempo and then use it for the first time, right?
Um, but I've had a suspicion for a while that it's maybe a bit of a bottleneck in terms of throughput and definitely in terms of finality.
So, um, I had a dig around in that this week.
Uh, finally, after many years of being suspicious of it, fixed some, some problems, made a few optimizations and things, added, added some new features and methods to it.
Um, and the result is it shaved two seconds off finality with exactly the same network configuration.
Um, so that's, that's the kind of stuff as well that, that I'm doing at the moment while, um, a bit in limbo with the testing stuff.
Um, and then obviously you're making these kinds of changes to old code and stuff.
Then you want to test that those changes are good, um, because not all code is perfect first time around, right?
So, um, these tests are also good, good for that iterative process as well, where find something, improve it, test that it's all good, find some bugs, fix them.
Next test, those bugs are fixed.
Maybe you find some other issues or, you know, whatever.
And you just keep iterating that until we're good to go and we'll have a really robust test.
Um, and what's also of note yesterday, um, uh, is that, uh, the test with the group van way longer than the big test will.
Right.
So, um, the big test isn't going to be like an all day thing, you know, because it's going to kick off quite late in the evening because that's convenient for most people in our ecosystem.
I think it's going to be about 7pm UTC, um, was the time that was agreed for 1900 hours for those who prefer military speak.
Um, and so obviously we're not going to run it all night, right?
People joining all night and stuff.
Um, so the plan is to like run it for maybe a few hours and then gradually ramp up to whatever stupid number we can get to and then, and then, then shut it down.
So it doesn't need to run for hours and hours and hours and be stable for days.
It just needs to run for long enough to show that our technology can sustain X amount of TPS over a duration of time that is considerably longer than anybody else has ever done.
And so for the, for like your plans, obviously pending the third party dependencies that we have for the kind of big validated test, what are the things you're expecting to do over the kind of coming weeks with the Hyperscale test group?
Are there any kind of big milestones you want to try and hit there?
Anything you want to particularly test, anything you need from anyone to get the most use of this time so that when we do the validated test, everything is robust as possible?
Um, I'd like, there's not a great deal in terms of what's left on my to-do list that's worth the time doing, at least now anyway, right?
Um, and some of it is, let's say risky to do some, some of the things that I would like to change, like they, they potentially have a big impact.
Um, but I don't really want to go chopping around in somewhat critical pieces of code at the moment.
All the stuff I'm doing is outside of that criticality, you know, that critical components, right?
So that I don't, I'm not changing anything there.
And then, you know, another one of the third parties then says, oh, actually you've changed this.
So, you know, we want to have, have some more stuff added in there, not touching any of that kind of stuff at all, unless I find a major issue.
Um, so in terms of like, you know, safe improvements, there's not a great deal more that can be done.
So really it's just about, um, just ensuring that the code base is robust and that all the peripheral stuff, you know, like networking components and storage layer and stuff like that, making sure that all of those are as robust as they can be.
And just keep testing the network in different configurations between now and the big task with, with the community.
So, um, one of the things that I'm going to, um, hopefully over the weekend, but I do need a bit of rest.
So it might be next week, um, is now to start with the shardy tests, right?
I think maybe we'll do one more single shardy just after I've fixed up some of these issues with the gossip changes that I made this week, just to, just reduces complexity.
But then if they're all good, then next week we'll start out with, you know, maybe two shards, right?
And then we'll go to four shards and eight shards and 16 and so on and so forth.
And then with that, um, also reduce some of the, um, uh, water downness of the network as well, right?
So that it can process more transactions per shard.
It might take people a bit longer to sync up and stuff, but we love to start pushing numbers in our internal, you know, group testing and stuff as well.
Um, and so just kind of just, just scale it out as much as we can with sensible tests, hit some big numbers in our own, our own community testing.
Um, and then when the big bang date comes along, everybody's good to go.
We've tested it to a good number already, high number of shards, high number of nodes.
It's nice and robust and it's happy days.
For a fun blast from the past.
Has it gone through the Greg test?
Have you managed to get hold of Greg, get him to spin up a node and make sure it doesn't all implode?
It's funny.
You should mention the Greg law, right?
Cause that bastard turned up last night, didn't he?
Did he actually, I genuinely didn't know that.
That was, he actually, he, he, he's not joined in on any of these tests like since forever ago.
Right.
And then last night he pops up in the group and, uh, and Pichu made a comment.
So something along the lines of, oh, Greg's here.
Um, and so it's quite serendipitous that he turns up and my validators fall over.
Like that's just typical what happens whenever he's around.
But importantly, the network kept going and then recovered.
So I'm going to say it passed the Greg test.
That, that is, I mean, it doesn't matter about the other third party validations now.
For those who know that, that is it.
Like, yeah.
For those who know about Greg, if Greg took part and it didn't explode in a ball of fire,
then I'll put it with good.
I keep threatening I'm going to spin it up on my personal machine at some point, um, as well.
So, uh, you may see me pop up in the hyperscale test.
Um, if it, if I've, if I'm free, um, and then you'll have to hand walk me through that.
Um, yeah, well, there's a horde of people now, Adam, that can help you with that.
So, um, like it, it, it's also nice to have all of these somewhat now experienced people
that take part because I don't have to sit in the telegram group.
I can go and be looking at the logs or like the dashboard, uh, and just nitpicking around
the network to make sure that things are running.
Okay.
Take notes on things that maybe I'm like, Hmm, why is that doing that?
And why is this doing this?
Um, whereas with the earlier tests, I have to be in telegram a lot more, you know, guiding
people and answering questions and doing instructions, but there's a literal army in there now that
has some experience.
And so I can just kind of drop it, you know, get everybody started and then disappear and
monitor things a bit closer than, than usual.
So it's, it's all good.
So do you know when the next, the next spin-off is going to be?
I know that's like asking, um, when, when, when, when, when, but any ideas?
Yeah.
So, uh, I want to try and get these, these fixes in for the gossip stuff today.
There's not a great deal and they're not that complex, but I am, it's been a long week this
week, right?
I've been getting up at 6am and working until 12 midnight, 1am or even later, I think on
Tuesday.
Um, so I'm a little bit on the slow side today.
So I was hoping to do one over the weekend, but I also definitely need a good night's sleep.
So if not the weekend, um, by the time I get around to these changes in, and I've done
some local testing myself and stuff, then it'll probably be Monday or Tuesday next week.
If, if not sooner.
Sounds fun.
So, um, jumping on to other, other topics.
I mean, just from my side on, on overall things, I know there's been some chats about like what
other things are coming this year.
What, what is going on on the foundation side?
I'm very much not in the loop with the ecosystem.
Because obviously my top 10 priorities are test.
So I have no idea what's been going on.
As it should be as well.
So this is, this is one of the things like little peek behind the curtain.
The number of times I tell Dan being like, Dan, Dan, it's fine.
Go focus on the test.
Um, so if, if, if you find that he's locked away somewhere, um, don't, don't point fingers
at me, but it probably was.
Yes.
So, uh, but yeah, on, on the foundation side of things, like people have been asking like
what, what are the priorities, what are the plans?
And so this is something that we're aiming to get out soon.
And one of the things that I mentioned in the telegram chat today that we're very keen
on doing is while we will be advocating for a position of what's important, providing the
context and information about like why we think these things are important, why other
things maybe aren't the top priorities at the moment.
As the ecosystem is growing, as the number of kind of like key stakeholders within the
system increase, it's important to get feedback on that.
So what, for those of you here today, like you will probably see, um, fairly soon some
posts coming up about like, this is what we're proposing.
This is what we're thinking.
This is why we're thinking these things and requesting input from people.
So if you do have thoughts, if you have ideas, let us know.
Um, the key thing is that this is a community built platform and it is being backed by the
community for, as Dan keeps telling me over a decade now, is it, is it ticked over to
13 years yet, Dan?
No, not quite.
Not quite, not quite.
So it's, and that has tons of benefits.
It also has tons of challenges and we need to be playing into the strengths of what Radix
does have, what we are able to offer, um, and really playing into that hand.
So there will be more requests for input.
There will be, uh, discussions.
Likewise, if you've got ideas, suggestions, they are always welcome.
Um, the thing that I think is important to always remember on this and to set expectations
on it is that people often go, well, listen to the community or just do what the community
wants as if a community is a single entity.
And it isn't like everyone joining in today, you're all individuals, you're all people who've
got opinions, priorities, things that think will work, won't work, and also have different
information in different contexts.
And so one of the parts of this, if you're requesting input for stuff is making sure to
provide the necessary context and information where possible to help people make, give informed
input.
And it won't, the choices we make and what some people advocate for won't be for everyone.
And that's okay.
Our goal is really, are we making sure that we're balancing the people here today as well
the people we want to be here in the future in how we're going and ultimately aligning
everyone who wants to be on this journey on the same path, on the same priorities and
on the same tactics so that we can focus our energy ideas and critique where necessary
on the things that we all want to achieve and believe are the most important, impactful
things.
Because in any, in any scale up and like growth company, project, business, whatever you want
to call it, your options are never, or you're limited never by like, what should we do?
You're limited by there's so many awesome things we could do, which ones are we going to
allocate resources towards and prioritize?
So expect some of that coming up.
I don't know if you want to add anything to that as well, Dan.
No, you hit it on the head pretty well, I think.
Like, yeah, it's, it's not as simple as just do what the community wants, right?
Or what the community thinks is best.
That's a big part, of course, but there are things that the community wants and there's
always some division, even in the community, right?
The community is never 100% aligned at all.
There's always some Byzantine fault tolerance required in there.
I hope you like that joke.
Pun, even.
Pun, but then you've also got, okay, what does the network need?
Like, is there critical things for the network that we need to focus on?
Like, you know, are there issues?
Is there a new feature that's really required?
And then, of course, there's the things that we know that we can't tell you about yet
because of NDA, legal, regs, or some other reason, right?
And so we're forever juggling around those three things.
Now, admittedly, in my opinion, the do what the community would like has been at the wayside
a little bit for too long.
And that definitely needs to change because, you know, despite the community being divided
on many things and there always needing to be some level of consensus and there's always
debate in there, there are some good ideas in the community and there are smart people
in the community and there are people with experience with certain things in the community
that we should leverage.
So, yeah, basically just prepare for a lot more interaction between foundation and community
on a whole wide range of things.
Some stuff we still just kind of have to make decisions on because, you know, we can't discuss
it or it's just an urgent thing that we need to do.
But for the more kind of medium-term, long-term stuff, then, yeah, there'll be a lot more
of a kind of closed feedback loop with community.
And likewise, that'll also be starting from the top and working down where possible.
And this is something I firmly believe on that there's no point getting into, well, using
marketing as an area I know, like there's no point having a debate on, well, Radek should
have this size booth at this event and someone else going, no, it should be a smaller booth
or something like that.
It's very, very tactical and you can't make good, informed tactical decisions until you
align behind the strategic things you're trying to achieve.
Yeah, you need tactical and then just waterfall down from those things into, okay, what are
the actions on the ground?
And you go as granular as you need to, right?
You know, and the whole, we'll just get a booth at this conference.
Yeah, but like, what is the value add of that, right?
Especially in a bull market when you're competing with all the projects that have $3 million to
go and spend on a booth, so token 2049, right?
If we go and spend $250,000, this is a significant portion of budget for the year, is that best
spent somewhere else, right?
And that's the thing.
It's all about choices.
And this is, to frame everyone here up on like the thinking and way to approach this is,
very rarely are things like, this is an obvious win with absolutely no downsides.
So using the event example in this booth, like, can you go and spend a million dollars on a
booth at a massive, like tier one event?
Sure you can.
Is that going to take a million dollars away from something else?
A hundred percent.
Or you need to find another million dollars somewhere.
Those are generally the only options.
So it's really important to look at and be ready to advocate for positions that you think
and do so as concisely and articulately as possible, considering the trade-offs of all
of these decisions, which is something that Radix has always done very thoroughly behind
closed doors.
And it's something that I'm keen to get opened up a bit more so that there can be informed
input from the community as well.
Cool.
So jumping on to updates on the community side of things, or not necessarily community side
of things, but speaking of events, this is a nice tangent actually, Dan.
You're off to Digital Asset Forum.
I am.
Relatively soon.
Yeah.
February 3rd.
So these are the same guys that did EBC, and EBC was obviously very good for us.
So I was invited at EBC to speak there because I think I was the only person at EBC that was
on two panels as well, which was quite a nice fact and quite a nice privilege.
So, yeah, Victoria invited me to DAF, the Digital Asset Forum event in February.
So I'm going along there.
I'm on a panel with one of them, she heads up the blockchain division of Santander, and I was
on a panel with her at EBC.
She's very smart, very intelligent, knows all of her stuff about blockchain, very dedicated,
motivated.
And I think she's secretly a massive crypto evangelist.
She's probably got a hacker name somewhere.
And I think that we're the only layer one protocol that's actually speaking on any panels as well,
which is nice.
And obviously, this is much more of an institutional event.
It's not your typical crypto bro event.
It's like banks and hedge funds and family offices and all this kind of stuff.
But thanks to EBC, there's quite a few people attending who I know who were at EBC as well,
so it'd be good to catch up with them.
So, yeah, I'm looking forward to it.
It's only one day, but it's probably enough because it's quite a bit smaller.
It's a bit more of a, what's the word I'm looking for, intimate, I guess.
A bit more of an intimate event where there's not thousands of people there over three days.
It's just one day, two tracks of speakers.
And then there's like, you know, after party afterwards where you can get drunk and make more friends.
And also, just so they don't miss it, like shout out to the Radix Community Council as well
for helping with the organization and set up connections here.
Yeah.
Also, the panel that I'm speaking on is, I forget the title.
I'm so tired.
You're speaking on a panel called, will the future of finance be built on public blockchains?
That's the one.
Yes.
Yes.
Basically, will your favorite bank be on a public blockchain at some point?
So that's assuming you're going to advocate for yes.
Of course I am.
I'm not going to say, will the future of finance be built on Radix?
Yes, it will.
Do you know if you've got, because I always like panels where there's someone strongly disagreeing with the obvious answer.
Is there someone on the panel who's going to, you think, going to be the taking the devil's advocate at least?
I would imagine so.
Yeah.
Like there usually is somebody who is put in, even if they're not a true devil's advocate.
They're like, can you play devil's advocate on here?
It's like, yeah, OK, I'll give it a go.
So there will be somebody on that panel that either is or has asked to be devil's advocate for sure.
So if you are around in the London area, do try and check in.
Likewise, we are looking at trying to get a informal coffee morning, shall we say, for anyone who is a Radix backer in the London area.
Probably on the Tuesday morning, though.
Right, Dan?
Yes.
So we will get some details of that, but don't expect super polish.
It'll be an informal meetup just to catch in with anyone there.
Otherwise, the other things going on in February event-wise is the Radix Wiki team are organizing another four plus events in various universities in London.
So those of you who don't know, Radix Wiki have run a series of kind of scripted workshops, predominantly in London, over the last, I think, about nine, ten months.
I think the first one was about ten months ago at ArtSec in London.
And people in the community, for example, like Beam, Florian, a few others whose names elude me right now, have attended, helped out there.
And essentially, these are great ways to get in front of students, computer science students who are interested in crypto.
There's been some great discussions off the back of that.
Dan's been invited to talk privately at a few events for the universities.
We've got some connections with, like, some of the faculty there.
And also, at least one of them, I want to say St. Mary's, but maybe incorrect.
At least one of them have now started a DeFi society.
Literally.
Yeah, I think it's St. Mary's, right?
Because they were, that was the one with the really cool room.
And so, yeah, they were looking to do some initiative.
Yeah, their eSports room.
Yeah, their eSports.
Very cool, actually.
Yeah.
I was, I didn't expect that.
I was like, oh, shit.
Okay, these guys have spent some dollar in here.
It looks, and these events are fantastic.
Like, they are long-term things.
They are community run.
And it's just getting more people in front of Scripto, which is useful, A, because these
are potentially the next or future wave of builders who come and launch projects or even
just get mind show of these people having tried Scripto, being hands-on with, tall beans,
hand-on with the Radex network.
But also, it is an effective way to get feedback on actually how are people onboarding.
So, at one of the previous events, there was some great feedback around getting people
set up.
So, Z from the RDXWorks team took that on board and kind of reworked some of the initial
setup to get going with Scripto that has been really well-received.
So, these events are very useful and are very helpful.
So, thank you very much to the Radex Wiki team for organizing those.
Yeah, thank you.
Going a bit broader to ecosystem stuff.
So, first up on the list is Lighthouse has now integrated with Radex.
So, Lighthouse is a decentralized storage system and they've added the ability to like connect
your Radex wallet.
You can upload files, token gate assets, you can encrypt data, et cetera.
And this is just another tool for developers and builders in the ecosystem for decentralized
storage options.
There's also some native ones.
I say native, some ones coming directly to the Radex ecosystem.
I don't think they've been announced yet, but at least one is just being approved for
delivery on their grants track for doing this as well.
So, again, it's just further building out the infrastructure and the auxiliary things
that really help ecosystems thrive.
Great.
Now we have file storage.
When decentralized social?
Well, that's a pet project of yours, Dan.
I know.
I'm a bit busy right now, Adam.
Look, we've got to queue it up.
Like, we've got to queue all these things up.
Yeah.
Well, there's some new pet projects that are going to get in the way of that over the
medium term.
So that will actually, hopefully, do a bit more than decentralized social networks.
Because, you know, a few people have tried decentralized social networks.
And while they're very cool, they never seem to gain any real user adoption or traction.
So, I think for now, probably best focusing efforts on other pet projects.
After Cassandra, hyperscale test, of course, right?
Too much to do.
Hyperscale is P1.
There is no doubt that that's for Dan.
It is P1 to PN.
It's all the way down.
The other bits as well, coming to the ecosystem.
So, last Friday, back on the 10th of January, there was a big move of liquidity into the
new, into many of the new X assets.
So, on the Radix Dexes, there is now pretty decent concentrated liquidity across like X
Ina, Xlink, Xpepe, and also a bunch of liquidity around like 1% spot on a whole host of other
ones.
So, that is already creating more opportunities for people who are looking to like, do kind
of like ARB opportunities to swap in and out of those X assets ahead of the Anthic launch.
Speaking of which, that was, there was an update from the RDX Works team in the community
channels a day or two ago, I want to say, that testing's going really well for Anthic on
StokeNet, all the market makers.
It's working as intended.
Market makers are happy.
And currently, all they're waiting for is regulatory approval on the InstaBridge side for GoLive.
So, that is all progressing nicely, but no fixed launch date from them as of yet.
But what there has been lots of launches on.
What's it, Dan?
Regulators.
Ugh.
They're very slow.
They are slow.
One of the truest things I ever heard from a crypto lawyer is regulators grind slowly but
finally.
Yes.
Yeah.
That's fair.
And anyone who's seen like some of the news today that I saw going around is like pumped
up, fun, getting sued and stuff like that is like, this is the sort of thing where they
may not instantly act, but they will have an opinion on something at some point.
And so, where necessary, working with them is a good move.
Yeah.
I mean, that was inevitable, right?
So, soon it's going to have to change its name to dump.sad.
I think the crazy thing was, from at least the write-up I was looking, it's apparently
all got kicked off by someone who lost $230.
Really?
That's what, that was the, that was the, the trigger, the firecracker that said.
Yeah.
Oh, wow.
It'll be interesting.
I mean, I, I mean, it's a huge topic we could go into in depth, Dan.
I know you're, the PR team that you're working with are constantly pestering you for, for
more comments on this.
But like, it's going to be really interesting to see with the new U.S. administration, how
things pan out from a regulatory perspective, as obviously the U.S. has been fairly cautious
is probably the nicest way of putting it towards crypto.
The nicest way.
That's the very political nice way to say it.
Yeah.
I wasn't going to go quite as far as hostile, but yeah, cautious at minimum.
But yeah.
So it'll be interesting to see how that, that pans out.
I mean, there's a lot of excitement and how, what from like behind the scenes we're seeing
a lot and have been for quite a while, actually, even though it's only coming public now is
like all the global regulators, governments, their big institutions are all seriously taking
not just crypto, but specifically like DeFi very, very seriously.
Like tokenization of everything is always seen as inevitable.
It's a big topic.
And if, if the U.S., once Trump is in office, does nothing more in the first hundred days
than ensure that there is clearer direction and regulation, then that will probably kick
off the hottest DeFi summer we will witness for a long time.
Because then it just takes so much, like it just takes so much worry and stress and having
to overthink things.
And I'm not going to build this feature because what if and all this stuff, like you will see
an absolute surge this year if, if there's some clarity around that in the first hundred
days, a hundred percent.
And then if there is, you know, a lot of other nations that may be still very much in the
grain or nothing at all area with regards to crypto regs, they'll just template what
the States is doing.
If it's good enough for the U.S., it's good enough for us.
And before you know it, there's a somewhat clearer framework that everybody can work to
that is nowhere near as hostile as it has been for the past number of years.
So just that, if Trump does just that, I'll be very happy.
I'm also cautiously, cautiously optimistic that one of the big outcomes we could see from
this is that there was a lot of larger players pulling out of the U.S. historically.
So outside of a handful of like tier one exchanges, most exchanges pulled out of the U.S. over the
last kind of 18 months.
Yeah, all the on or back in.
Yeah, all the on or off ramps, et cetera, like a lot of these, they weren't shut down from
the U.S. side.
They were cautious because it was unclear how they should interact or what they could or
couldn't do that.
They just said, oh, this is too much of a risk.
We're just going to we're going to pull out.
And I'm hoping that with this new administration, there'll be eagerness.
Well, obviously, there's commercial eagerness to get back into the U.S., which will help
all projects, including Radix.
So that is for sure.
Yeah.
If a couple of the larger exchanges that we're listed on, we enter the U.S., then that's real
math.
So before we get too enthusiastic on that, we should probably get back on topic.
So other ecosystem things happening.
So Raccoon.fun have now set their token graduations.
So congratulations to them.
There's quite a few competing kind of launch pads now for assets on Radix.
And I personally am so bullish about that being the case, because having a launch pad, even
a couple of years ago for a new ecosystem, we'd be like, oh, my God, you've got a launch
pad.
That's incredible.
We've got at least three.
I think there's possibly a fourth going live, if my memory serves.
And that's just testament to actually building, deploying, launching projects on Radix is
easy, intuitive, and the place to do it.
So if we're getting this sort of activity and interest from builders and projects at this
stage of where Radix is, a couple of things start moving in the right direction.
And that just, the barrier to growth is very, very low.
And one of the things...
Well, this just goes back a little bit to what we were saying a bit earlier on in the
spaces, right?
Like, you know, play to our strengths and stuff.
And one of those strengths is we have everything that every other large ecosystem in the space
has, right?
We have the launch platforms.
We have Dexies.
We have LendBorrow.
We have NFTs.
We have Marketplace.
We have all this stuff, what everybody else has got.
And we've got some cool stuff that others don't have, right?
And so, I mean, when you boil it down to what's missing for us to be a successful project in
terms of ecosystem development and what's there, the answer is nothing, right?
There is nothing missing.
So we really need to start to play to the strengths of what we have in the ecosystem, as well as
what we're building and what the future vision is.
But a lot of it is, look at what we have now and look how cool this is, right?
And this is as good as XYZ on Solana or as good as this on Ethereum.
But this has some additional features that you can use, which you might find interesting,
right?
Like, we have a comparable ecosystem.
It just needs footfall.
And I think you're preceding some of the stuff that may be coming out of what we believe
are priorities and we'll be advocating for as priorities.
But yeah, I'm 100% aligned.
And it is very exciting.
And everything you see, and I've been speaking, I can't name them at the moment, but I was
speaking to a well-known and well-recommended marketing agency earlier in the week.
And before we've even engaged them or anything, one of the first things that they came back
after their initial research was going, we've been digging into this.
And like speaking to a few people and everyone who's touched crypto, everyone who's used
Radix, they all sit there and say, it's fantastic.
And that's something that we don't hear elsewhere.
There's not these gripes other than getting more use, getting more growth.
And that is something that they were extremely excited about.
So, um, this isn't just, I hear it all the time.
It's, it's a recurring thing.
I was talking to a couple, uh, to a developer the other evening, um, uh, about Radix and,
you know, available positions and stuff.
And, and they were saying the same thing.
It's like, I don't understand how you guys are where you are given your stack, scripto,
the Radix engine, the ecosystem that you have, your insanely active community, all these things.
Like there's, there's no reason why you are where you are.
And it just doesn't make any sense to me.
And that's the same that we get.
We get that all the time, right?
And even to people outside of the space.
So interviewing for like the open social media role, um, and marketing manager role that we're
looking to bring on at the foundation side, subtle, sure.
If anyone's interested, um, even, even people there who are looking at Radix for potentially
like the first time, like there is genuine excitement from people of going like one that
sticks out to me as someone earlier this week was like, you guys are like the apple of Radix.
Like you've got all of these things here.
It all works.
I played with it already before speaking to you.
Like, why, why is this like, why, why don't I know about this?
And these are the sort of things which in some ways are painful to hear because it's
like, Oh God, why don't they hear about it?
We need to do more there, but equally are extremely exciting to hear because then it's
like, actually the barrier and the blockers to getting people on board are incredibly low.
We just need to get in front of people and give them the right, um, incentive slash offer
to get involved.
Yeah.
We just need to execute the right strategy, right?
Like the friction in, in terms of, is this ecosystem exciting?
Is the wallet cool?
Is, is the project in general cool, exciting, and amazing?
Like they aren't even questioned once you've fiddled around with it and played with it.
It's, it's just running the right strategy to get people to come in.
And as we know, once people come in, they don't want to leave and they don't want to go use
MetaMask again or, or the other solutions, you know, it actually gives them anxiety.
I've heard some people say, um, including myself, I had to use MetaMask last week for
the first time in forever.
And I had a cold sweat because it's like, shit, right?
Are these going to turn up where they're supposed to?
Like, I haven't clicked anything recently that Luke dodged you, so it should be okay.
It's like, it's horrendous.
So I, I actually, nothing, nothing Radix related, but the, just before Christmas, I had to move
some funds on, on Ethereum.
And one of the things, like I was moving a chunk of USDC to an exchange and the Ethereum
network told me it failed.
It's to buy XRD, I hope.
I hope you, you, you, you purchased XRD with that.
I wouldn't like to comment.
It would be improper for me to do so.
But yes, I was moving, uh, moving USDC to an exchange to, to obviously, uh, buy things.
Um, and the, yeah, the Ethereum network to this day tells me that a transaction failed,
yet the funds arrived.
Oh yeah.
I've had that through MetaMask.
Yeah.
It failed.
I'm like, really?
Okay.
Uh, I'll wait a minute and try again.
Cause it says on the Explorer that it's fine.
Yep.
Crazy.
But anyway, uh, off on the tangent again, um, other ones we've got to crack through this.
Tangents are good.
Yeah.
We haven't, we haven't spoke for a while and everybody's missed us.
Uh, and we're missing Connor as well.
Like, you know, he used to provide the tangent.
So we've got to provide our own now.
Um, I did see him pop up earlier.
He, he was listening in.
So, uh, yeah, he's, for, for those wondering, he's doing really well in his new role.
So, um, all, all the best to Connor.
We, we miss you.
Um, other ecosystem news.
Uh, so NFT wars, uh, they've added, uh, Stone Cold Dan, uh, for, by the Dan coin team.
Um, so Dan, your, your honorary contribution to NFT wars, uh, or honorary inclusion is,
is now done.
That was great.
Yeah.
I, I, I did catch a glimpse of it on Twitter.
I think yesterday on some of the rare occasions I've even been near Twitter over the past few
weeks.
Uh, it's very cool.
I like it very much.
Um, so whoever, whoever designed that, Bravo did a good job.
The, the disturbing thing is that alongside Stone Cold Dan, um, Star Sailors has also
launched.
Um, so now I'm getting a weird crossover in my head of Dan and Star Sailors universe, which
I'm going to be honest, Dan, a vision I could do without in my head, but, um, it's stuck there.
Unfortunately for you, it's stuck.
So you'll have to try alternative means to get rid of it.
And, and these like NFT wars, not, not to dig too deep on it, X, we've got a lot to
get through, but like things like this are, are great additions and it's incorporating
other things in the ecosystem, other things that people can do to engage and use the network,
use their assets, use, use things in the community further, more regularly and in more
interesting ways are really awesome to see.
So, um, great work to the team there.
Um, and last but not least for the ecosystem updates is, uh, very, very recently early
turned one.
So a whole year of pure degeneracy.
Congratulations.
I can't believe, I can't believe that's a year ago.
Like time goes so fast, which when you think about it, isn't good for early, right?
Time's going fast then.
Um, that's not, that's not good for the early philosophy or maybe it is, who knows?
Um, but yeah, it only seems like yesterday when that popped up and it was just like that
channel is still pure chaos.
Like it's hilarious.
Um, obviously some days it's not hilarious because, you know, when they're throwing me
in spears and, and mine, or I'm sure your direction, Adam, you don't find it quite as
humorous as it otherwise is on other days when they're a little bit happy with us.
But if we catch you on a good day, it is definitely laugh out loud and juicy.
I'm just quite good.
I'm quite good at compartmentalizing Dan.
So I, I just have a separate part of my brain that appreciates it on all days, um, that's
separate to, to Adam.
And that's, that's the trick.
You have a split personality basically.
So yeah, I mean, it doesn't particularly bother me anymore.
It's just, okay, well, this isn't fun in here right now.
I'm going to go, I'm going to go to a different group or I'm going to go and do some work.
Actually, actually, you know, that's, that's maybe why they do it.
Right.
Cause they know that I lurk in there sometimes.
And so they think, right, Dan's busy, so let's be a bastard to him and he won't stay
in here long.
He'll get back to the keyboard.
That's what they're doing.
That, that feels mean.
I feel like we could go with a bit more carrot and a bit less stick.
Maybe.
Go on.
No, no.
Some of the guys in there, they're going to use the stick, honestly.
They're brutal.
They're brutal.
They don't give a shit.
They're going to hit you with a stick all day long.
They won't care.
In, in fairness though, um, besides, besides their, their telegram, obviously it's not
just a community launch.
It's also some great products.
So, uh, really.fun has been going like bonkers driven by the community, driven by token launches.
They've done 20 million of XRD volume in just over a month since they've launched like incredibly
good success for where we are.
That's insane.
Right.
If they keep that up, that's quarter of a billion XRD.
Any guess?
Yep.
Absolutely bonkers.
That's, that's a lot of, that's a, that's a lot of XRD volume, right?
Granted, it's not a lot in dollar volume right now, but it's a lot of XRD volume.
So yeah, congrats on that 20 million in a month.
That's, that's bonkers.
And final, final congrats to the ecosystem is, uh, surge has now been listed on CoinGecko.
So again, this is just another, another nice win and it's not to be underestimated like
ecosystem tokens getting added to CoinGecko, getting listed on, or getting tracked on DeFi
Llama or on some of like the dev, um, engagement reports and like activity reports that you
see coming out.
Like all of these things are just more surface area and more potential hooks, more potential
places that someone may stumble upon Radex, stumble upon that journey into Radex and take
the first bite. And my firm belief from everything I've seen is that that first bite is often the,
the biggest barrier the Radex faces, because as you said, Dan, once, once people have started
looking and starting to get involved, they, the rest of that conversion funnel goes near vertical.
You just start getting revelation after revelation of shit. It's got this and that,
oh, wow, this works really well. I really liked this. And then before you know it,
they're, they're diehard advocates. Um, which is why Radex has such a great community.
So, um, that is it for our agenda before, um, we go up. We'll, we'll finish on the agenda items
Dan by just giving a shout out to a space later today. So, um, obviously, uh, machinist and Felix
run a regular Friday night, uh, Twitter space. So that is do, they do. And I haven't, I haven't
visited them on that for a while. I'm really miss it, but I'm, I'm sorry guys. I'm just, I'm just
going to be as focused as possible while I've got some gas left in the tank for the
rest of the evening. So I might not be tearing up this week either. And so it's such good
fun. Like if you haven't listened to their spaces on a Friday, I really recommend you
go along and have a listen. It's, it's really like laid back and casual, um, good content,
good conversation, good humor. And afterwards you can play smash carts. Smash carts is great.
So, um, so when the spaces ends, that's not it. It's not over. You can go and then play
smash carts with people that are in the spaces. It's brilliant. And you win prizes. It's great.
I also highly recommend it. I haven't visited frequently enough either. If I get time tonight,
um, machinist Felix, I will, I will jump on. Um, so otherwise while I, I'm going to first open
up, um, the space to any questions. So raise your hand if you want to ask it or drop a reply
on X, uh, to this space, I'll, I'll refresh the, the comments, um, for anything you may
want to know. While that is ongoing, any closing thoughts, other topics you'd like to hit Dan?
Um, I can't think of anything, but that's probably because I'm just so out of the loop
at the moment, not just Radix, but crypto in general. Um, I, I'm, yeah, I'm just head down,
grinding away. Um, I think that one of the things that I think maybe adds a bit of friction
is, you know, like this test is obviously a dead weight at the moment, right? It needs
to get done. Um, but there's also that dogma of, oh, you guys have been talking about scalability
for years. And, you know, I do feel like some of that, some of that history maybe puts people
off a little bit coming and trying, uh, our ecosystem and, you know, just playing around
with the wallet and stuff. There's a bit of a, yeah, just bad rep, I suppose. Um, so get
the test done and then you can talk a bit more, um, I'm really forgetting words tonight. You
can be a bit more, for want of a better word, aggressive in your conversation, right? You can
enter debates about scalability. You can say that, okay, this test has been done. It's all
but proven. There's peer-reviewed papers, there's source code, the test has been done, these
many people joined, this is how many swaps a second it did, yada, yada, all those things,
right? Um, and so I do think that once the test is done, um, and any subsequent tests as
well that we do, it, it, it just, it negates some of that dogma that we carry with us. Um,
and that's why it's just all the way down priority right now. It needs to get done, needs to get
done ASAP. And then I can start to have conversations and debates with Tolly again
about scale or, um, the near guys or the multiversex guys or, you know, Justin Bonds or
whoever, right? But I've purposefully not entered those conversations because I always
get the same kind of response of, yeah, well, you know, it's not demonstrated. You haven't
done it yet. Yada, yada, yada. When it's done, those conversations come back as kind of
further again. Um, and I would urge you all to do the same thing because you will have
strong evidence and proof that it actually can be done and it has been done. So I guess
that's my closing thought.
Source, source code is the massive one as well, because that often you see people being like,
oh, well, prove it and go, here you go.
Yeah, here you go. There's the code. If, if, if, if you have the skill set to go through
it and pick it apart, have fun doing that. Right. And then you can build your own node
software out of that source code and then you can join the test and there you go. And
if you don't have the skill set to do it, I'm sure somebody will have, who will comment
on it at some point. So then if you trust them and their skills as a developer who may
be, you know, has some influence in the crypto community and they look at it and they're like,
yeah, okay. You know, code's a bit of a mess, but it's a prototype, but it's doing everything
it should be due and it's doing those things properly. Then it just, like, it's very difficult
to argue it at that point. Right. It's very difficult to come back with those low ball
comments, just backhand swat it away. So really need to get this done. And that's, yeah, that's
the reason I'm just absent at the moment, because I'm sick of this being a ball and chain. Get
out of the way and let's see what that does.
And I think everyone will be aligned behind you focusing on that, Dan. I don't think there's
any doubt about it. Yeah. I mean, at this point, I'm just frustrated that I didn't
knuckle down a hundred percent on it sooner, but you know, it is what it is, right? Other
things got in the way, other things were put forward in front of it in terms of priority
and stuff. They didn't have the impact that they may have done. And here we are. So no
point crying over that. Let's just get it done. From the comments. I mean, this is a really
good question. What are the incentives of people using and building on Radix rather than
other big ecosystems, especially those with more users and more liquidity? I think that's
a really good question. Do you want to give a first stab or want me to, Dan?
Yeah. I mean, obviously I've got a few thoughts on that, right? So, I mean, if you, I mean,
is this in terms of a new idea or an existing one? So as an existing one, I suppose this applies
to both, actually. If you've got an idea, right, then yeah, sure. Maybe you think I'll go and
build this on Ethereum or on Solana because that's where all the TVL is. That's where
all the brain share is and everybody's over there. Yeah. Okay. Cool. I can go and do
that. But because Scripto and the developer experience is so efficient, then you could
probably build that same idea over here in a fraction of the time, right? And with a lot
less stress and a lot more peace of mind, right? So why not just do both? Yeah. Or another
way to think about it is if I'm building a fairly complex DAP and my plan is to go and
launch it on Ethereum, I've got a whole lot of EVM complexity to deal with, right? Very
easy to make mistakes, very easy to make bugs. If I've got a complex business flow logic in
there, right, then that makes the job even harder, okay? So why not prototype it on Scripto
so you're spending more time just building the DAP and less time worrying about, okay, is my
business logic good? Are there overflow errors? Have I done this stupid thing? Are there
any re-entrances? And all that stuff you have to worry about with Ethereum, prototype it
on Scripto. Then you can actually be sure that what you want to build is possible to do and
you have a solid prototype. Hell, then you can even use that prototype to go and raise
money because it's only taking you a month to build it and not three. You can raise your
money faster, right? Because you have a prototype. And there's so many reasons why you should
be building on Scripto, even if your intention is to go and deploy it somewhere else as
well. But when you do deploy on Ethereum, well, I might as well deploy it on Radix too, because
that's where I first tied to. There's 110 reasons I could go on all day about why.
I'd add to that that from a commercial standpoint as well, or like opportunity standpoint,
there's always the benefit of joining a platform that has a lot of users and a lot of liquidity.
No doubt about that. That is a potential big win. But you are also then a small fish in a very,
very big pond. One of the things that Radix has and is always commented on is that Radix's community
engagement pound for pound is way above the ratio of anywhere else.
And so it's not.
And like if you, if you then launch something, the backing and the feedback and the input you
get from people here is going to be orders of magnitude more than you are likely to get anywhere
else. And then you do go, okay, well, you're, you're a big fish in a smaller pond at the moment,
but then you can grow with that, with that. And that's not a guarantee. Obviously things aren't
certain, but anytime you're launching a project or anything like that, you're weighing up the
different benefits and risks of, of different places. And from the user side, I pushed back
really hard on going more places where there's, there's other opportunities. I mean, other than
just the barrier of having an amazing UX on Radix compared to elsewhere, and that, that being just
something you can so much more confidently use, there are really great opportunities within the
Radix ecosystem right now. Again, because you're probably playing as a bigger fish in a smaller
pond. There is, for example, on money markets, a constant demand for stable coins. Absolutely
insane there. On purpose markets, on arbitrage opportunities between different pools, different
DEXs, they've got bigger still because of the fact that we've got like the X assets launches
and it's going to get bigger again with ANTHIC. You've got all of these sort of opportunities
you can dive into if you're willing to look, and they're not well publicized. They're not things
that everyone's talking about and you're going to be late to because no one else, by the time
you've seen on X, like a thousand people have already jumped in. So if you've got the conviction
and you've got the time to really dig in and find some of these things, there are amazing
opportunities for you in the Radix ecosystem today. And this hops back to what we were saying
earlier in the space, the things needed to be successful are here. They are live. They are
things you can go and use right now. And that's not to say everything's perfect. There's definitely
improvements to be made, but the core things in place. So that's what I'd say for a user
perspective. Can you really afford not to be taking a look at the opportunities here?
And that's what we're seeing growth in at a modest pace, to be fair, but like we're seeing
growth in across the board of more transactions, more users, more accounts coming in, interacting
with apps, more people lending, more people borrowing, more people engaging. And that's a trend
we need to accelerate here. So we're coming up to the hour, Dan. I will give it one, one
more look through the questions that have come through. But otherwise, any, any final thoughts
from you?
No. I'm really, I'm really struggling today. I'm just trying to consume as many brain cells
as I can for a little bit of an evening coding stint. I mean, you know, it's, we have an amazing
ecosystem. We have an, like, like you say, our community pound for pound is, as frustrating
as you guys can be sometimes, is actually bonkers, right? And if you, if you have a really good
idea, and you were to build it here, and then the community get behind that idea, I mean,
it's going to get awareness, right? Maybe it doesn't get the similar level of awareness
as some projects on bigger platforms do, but it will get awareness. Like, you know, our community
is relentless in whatever it latches its teeth onto. And we just, we just have, we have all the
right ingredients, right? We have everything we need right now. We have a good roadmap. It's just,
it's just build that awareness. Pull people in through the door, get people using things, right?
Take advantages of these really cool opportunities. And the more, and the more that we can talk about
that, and the more people we can pull in to do that, then eventually you just got to get a snowball
effect, right? And before you know it, if you've done all those things right, and you've run the
right strategy, you're in a much better position as an ecosystem with a lot more traction and utility
carrier. So just, yeah, keep at it. Everybody just keep at it. What you're doing is cool.
What you do is great. Keep building, keep using, keep interacting, keep giving me and Adam's shit
when we deserve it. But, you know, a bit of praise now and then it'd be nice too, but we'll save that for
when we've actually done some more stuff.
And just, just on that, echoing everything you've said, Dan, on the, on the pound for pound,
the community being so engaged, so supportive is something that one of my old coaches said to me
that you only need to worry when your coach stops telling you how to be better because that's when
they don't think you can be.
Yeah. Yeah. And we can be a lot better, right? You can always be better. You can always be better.
Yeah. And yeah, but yeah, I agree. Having, having your coach, when your coach stops, that's a bad sign.
And on that note, and all the positives that we've got coming up, we will end it there. Thank you all
very much for tuning in. It's a pleasure being here. There'll be another Radix recap in two weeks' time
with Dan and myself. And we hope to see here and talk to you.
Will there, will there be, will there be two weeks?
Oh yeah. The 31st, yeah. No, it doesn't go on the 3rd.
Yeah, I was just making sure it didn't land anywhere near the 3rd. Yeah. Because obviously I'm going to be
going down the day before and then coming back the day after. So yeah, two weeks' time. We'll have another.
Awesome. Thank you very much, everyone. Catch you soon, Radvocates.
Bye-bye.
Bye-bye.
