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Radix Recap: Ecosystem & Foundation Updates
Recorded: Sept. 26, 2025 Duration: 0:40:33Space Recording
Short Summary
In a recent discussion, key updates highlighted significant growth in the Radix ecosystem, with TVL peaking at $9 million and daily transactions surging to 15K. The introduction of new features, partnerships, and project launches, including the integration of Solana routes into Hyperlane and a referral system for Radix Rewards, are set to further enhance user engagement and platform utility.
Full Transcription
Oh Thank you. The Thank you. The Good afternoon, everybody. My name is Adam Simmons and joining me today is none other
than Andy. Andy, how are you doing on this fine Friday?
I'm very well, Adam. Very well, indeed. Nice to chat to you. In fact, nice to, well, nice
to see you early this week as well in sunny Jersey. And hello to everybody who's joining
us now.
I've got a snitch on the island it wasn't that sunny this weekend that's true it wasn't that it wasn't that sunny you missed the sun um I'm afraid uh but apparently next week's going to be
it's going to be really nice when of course uh I'm not going to be here um but more on that
more on that a little bit more on that a little bit later um cool uh anything you want to chat about before um before we kick us off no i think we dive right
in try and do a concise space because people always tell us that they prefer them being 30
minutes so we need to try and it's a friday and we've got a lot it's a friday we've got lots to
get through um and i don't know about you but i've got a lot to do after this as well before I can always always so well let's start with numbers
then give us a give us a roundup of the numbers well it's been a while since we had one of these
spaces so we had to cancel last week's one and move it to this week so we've uh it's been three
weeks amazingly which means the last time we did one of these, Radex Rewards wasn't out.
We had only just started Hyperlane.
And since then, it's been going really quite well in many ways.
So we had TVL peak at $9 million.
And a big part of that was $3 million of assets,
well, actually over $3.4 million of Hyperlane assets
have been minted, bridged over onto Radex.
The total amount of bridge volume is higher than that because obviously some gets bridged back and forth for
CeFi to DeFi arbitrage and stuff like that. And most excitingly for me is that in XRD terms,
so DeFi Llama, if you look at a chain's TVL, you can look at it in dollar terms or in its
native tokens terms. So in XRD terms,
TVL on Radix is basically the highest it's ever been. And it's been going up and up and up consistently since we've had Radix rewards and hyper laid out. So that is the kind of momentum
that we want to be seeing. Yeah. Yeah. It's really good. It's really good.
And of course, that's led to all of the outcomes that we would expect and one or most of them in the daily transactions on chain have increased substantially.
So we're seeing about 15K daily transactions now.
That's about five times more than it was prior to this.
And we've seen DEX volume absolutely skyrocket as well.
I was going to say.
No evening.
Oh, God on, Andy.
Sorry, I was going to say,
you're talking about the DEX volumes
because they've like 10x, haven't they?
Yeah, so generally speaking,
we see about kind of 300k a week prior to this,
and it's consistently over 3 million
every single week,
and that's not including surge volume as well,
and this is just a few weeks in.
So, more TVL, more capital,
more liquidity and pools equals more tvl more capital more liquidity
impuls equals more trading which equals more fees for those lps which means it's more desirable for
lps to come in and you get that kind of virtuous cycle that we're running for so overall this is
a big uptick in activity um well done to everyone who's taking part so far also massive shout out
to like octostella shambu and a whole bunch of others for shipping update after update to Radix Rewards. So like getting
surge in in week two. We've done the referral system that came out yesterday, but we'll
talk on that more soon. So yeah, in many ways, we've got some good momentum going.
Yeah, yeah. I mean, I think it's over double what it was the quarter before. That's great
news. So let's move on to some progress and updates and and look we
we can't uh all that great news yeah we can't not talk about the elephant in the room um you know
we've been flat out making improvements with pr with hyperlane the launch event went really really
well we were gaining the momentum that we expected and uh do you want to talk us through what happened, what we saw?
Yeah. So obviously, pre-last week, things were trending exactly as we were hoping to. So XRD
price was trending upwards. It was steady momentum. TVL was going up, on-chain activity was going up,
DEX volume was going up, volume on centralized exchanges was going up. Everything was going up, DEX volume was going up, volume on centralized exchanges was going up,
everything was going the direction we wanted. Last week, there was a small correction towards the start of the week. And that's to be expected, because I think we were seeing it like 30%, 40%
up in the week. So it's usually at that point that you might see a little bit of a correction
in the market, even in a sustained uptrend. Now, that in itself isn't what caused the sudden shock. What caused the sudden shock was,
unfortunately, there was an account that had a large amount of XRD and participating in the
incentives campaign that had done something called looping. So looping is basically where
you say, take your XRD, deposit into a lending platform, use that to
borrow, say, USDC. You use that USDC to buy more XRD, which you then deposit back into the lending
protocol to borrow more USDC to keep looping that process over and over again. And so in many ways,
it's effectively creating leverage on what you're doing. Now, while that's a great way to
get leverage, leverage is a dangerous thing. It can do very, very well or very, very badly,
very, very quickly. And so you always need to be careful of what's known as liquidation price
and your loan health on those, because price movements can impact that quickly. And what we
saw happen last week is after that small correction, it basically caused that account that was looping with a large amount of XRD
to have their kind of first time round on that loop liquidated, which then of course,
because that goes and sells on chain on the DEXs, pushes the price down more, which then caused
their next loop to get liquidated. And you have what's known as a liquidation cascade.
And so that's what caused that really big price crash um last week which bluntly wiped out a lot of our momentum that we'd
got there pretty much all of it which was incredibly frustrating to see um but it is one of those
things the the lending markets handled it really well so yeah they did actually. Jumped on it. Yeah. Full credit to them
for what they did.
And so
the system worked as intended.
The lending dApps have reduced
their loan to value
ratio slide in how much you can borrow
using XRD to help prevent
that in the future. But obviously it's a big hit.
It was really frustrating and disappointing
considering we had such good momentum. What is good to see, though, is that that's kind of
stabilised out. And what we're seeing is that this does stabilise. If it wasn't for that shock,
we would still be in a very strong position off the back of that launch. And so we're looking to
get back to that. And we've got some great stuff coming in to do that. And we're also, as well as
working with kind of like Weft and Root to look at how to manage those situations more in the future.
Also looking at releasing some like guides for people on common DeFi activities.
So literally getting one out probably early next week around what is looping.
How does looping work?
What are the risks of looping?
What have you got to look out for?
Because it's a legitimate,
effective strategy to take on more risk to potentially get more opportunity. But that is a case of taking on more risk and people need to understand that and manage it. We're also looking
at ones around like concentrated liquidity pools and how they offer advantages, but also have
downsides and risks to them as well, depending on how you manage them. And so we're
looking to put more of those out as well. Cool. Thanks for that. And the thing that's been,
well, a pain in my backside for at least six months, and I bug you about relentlessly,
tell us about Arculus. Yeah. So again, the sheer rate that things are getting shipped is staggering at the moment, but also really good news.
So what we're seeing is that we've got Arculus now as a single factor source.
So those of you who don't know about Arculus, about 18 months ago or so, we announced that we were going to be having Arculus card as one of the factors to be used in the Radex wallet specifically as part
of multifactor authentication, which we'll touch on in a little bit too. But essentially an Oculus
card is a credit card looking thing with an NFC chip in it and some other clever internals beyond
just a simple read NFC chip. And what you can do with that is you can use that similar how you do
as a ledger it's a hardware
factor where if you want to sign a transaction you have to tap it to approve that transaction
and when mfa was postponed we obviously didn't move forward at the moment but the wallet team
have been cracking on since then and the user experience of arculus is great and so we've
actually now or a couple of weeks
ago now, released a wallet update that means you can now use an Arculus card as a single factor
for creating and signing transactions on accounts in your Radix wallet. Now, that's the first step
of that. The other step, of course, is that we've got branded oculus cards coming so um these were teased at the same
time we announced that we were working with oculus and yeah these are ready nearly ready to go um
we're just setting up i still haven't got this palette load that you promised me i've still
haven't got this palette load outside that you promised me like on monday um because i wanted
to take some away with me and they're still not there i don't when am i going to get my palette
of oculus cards to give away so i don't know exactly is the answer because i'm at the mercy of trans
atlantic shipping um but the arculus team are as you say going to be shipping some out to the
foundation offices so that we can do some giveaways with them a little sneaky uh hint on that
and promotional stuff with that and also at the same time they're setting up their fulfillment
to be able to buy them
straight from the Oculus stores,
the Radix branded ones,
as like initially a limited exclusive run
to see demand,
but that should be coming
in the next week or two.
Great stuff.
And I've got to admit,
Gennady and the team,
the wallet team,
pushed that update out.
And I was trying to add another account to my my wallet via um uh
via a ledger and like ah it's gone i it's what's happened there's a bug and of course it wasn't a
bug it added a feature and i didn't even know it was it was out it's on it's on the next uh
it's on the next screen so if anybody's doing that and has the same experience i had um you just need to
click to the next screen and you can pick it from you can pick it from there um so yeah even even i
hadn't realized he shipped it i knew the work and i didn't realize it was out so it's great work from
those guys yeah the entire dev team is absolutely cooking right now as the kids would say there's
stuff coming out very very quickly and it's going
well and talking of things coming out quickly of course there's been more upgrades to radix awards
since it launched less than three weeks ago so this week so at the start of last week we launched
support for trading on surge to be included so that's all gone very very smoothly we saw a big
uptick in the amount of traded volume on surgege. Of course, the leading Perpetuals decks on Maddox.
They did some cool stuff there as well.
So Surge decreased their trading fees for some of their pairs.
And it's really good to see that getting picked up.
They've also got some great yields available as well.
Obviously, there's risk supplying LP to a Perpetuals decks.
But yeah, they've had some great yields during this period as well,
which is basically taking the other side of a position. And then the big one yesterday that I
think caught a lot of people from surprise was one of the things we've heard since we launched
Radix Rewards was, hey, we want referrals. Can I refer people? Are there referral bonuses,
et cetera, et cetera. We started looking at that pretty damn quickly. And I was a bit mean.
I under-promised and made sure that we over-delivered and said that it's something we
were looking at. There was quite a bit to it. But Octostella and the team jumped on that and
we got the first version of referrals out yesterday. Yeah, I saw that. Great.
of referrals out yesterday.
Yeah, I saw that.
Great.
So on referrals,
if you go onto the Radix Rewards
dashboards and incentives
dot radixdlt.com
and connect up your account.
Currently, it is on the leaderboard page.
We're aware that there's a few other places
we can put that in.
And so we're doing some more tweaks
to the UI to make that look even better
and find it easier.
Basically, scroll down there.
You'll see your referral code with a little copy button next to it. You can copy that. And then
if you share that code and another user signs up with that, any season points that that user
earns, you will earn an additional 5% off. So they don't lose anything. They don't get any
downside to it. But if they sign up from your
link, you get 5% of all of the points that they, an additional 5% points for anything they earn.
So that can really ramp up the amount of points you earn and add to kind of this social element
into it. And it's also something that we're looking to expand upon over time to add more
things to that as we continue to develop the campaign yeah and it's one of the key things
that we we're driving towards isn't it getting more people in the radix network so people are
getting rewarded by this for for bringing more people in so i'm i'm delighted that you managed
to get that out i can't take the credit that was that was all octo and Stella doing that. I just basically said what we needed.
And they cracked on with it.
Yeah.
And MFA.
Tell us a bit more about MFA.
Yeah.
So this was probably an even bigger surprise for people.
I will be honest.
It was also a bit of a surprise to me.
Yes.
Because we were told this was going to be eight months, weren't we?
Previously.
Eight months to a year. yeah with without without saying too much um it was meant to be a babylon launch
feature yes indeed and then uh we'll we'll let history remember what occurred after that yes
but yeah at the start of the year it was it was also meant to be hardshiped at the end of last year and then got delayed again.
And obviously, as part of the restructure that went through, we unfortunately had to sit there and say, OK, we're pausing this at the moment as we were told that it was going to be at least another six months and like half a million dollars worth of development to get it out and get it working.
So about a month ago,
Gennady was like,
hey, we've been chatting.
Now we've got Oculus Sorge
and that's in kind of production flow.
We think MFA would be
a really good thing to add next.
And we think we can do it a lot quicker.
And there was a whole bunch of stuff
around that where kind of
in a phased rollout,
taking out some of the quality
of life features and nice apps from
there meant that they believed that they could get it in a far quicker position. So yeah, we're
cracking on with that now. It's going to be in three phases. So MFA, even though everything that
enables MFA is already available on chain, it is already things you can use, like the access
controller is there, is being utilized.
It doesn't have a nice UX portion in the wallet. So that's what you've got to do. Now, actually setting up that access controller does mean that you're altering how you access your account,
sign your transactions, recover your account and things like that. And while it's all on chain,
we need to make sure that that all works as intended, is thoroughly tested and is intuitive to use.
So we're going to be rolling out MFA in three phases on StokeNet.
You can read the blog post around that to learn more about those phases.
Not going to give you dates on when they're coming.
All I'd say is phase one is going to happen probably sooner than people expect.
phase one is going to happen probably sooner than people expect. Once it's been on StokeNet and we've
got all three phases out, we've found any kind of edge cases or any challenges with that, then we'll
roll it out onto Mainnet. And so, yeah, massive congratulations to Gennady and the rest of the
wallet team for pushing through with that and the stuff they're doing, because it's really exciting.
It's a really cool feature. It's one of these things that really resonates
with the wider audience and the broader,
even outside of crypto space,
that not needing seed phrases
and having other ways to control access
to your account securely without needing a custodian
is a massive piece
and a really unique selling point of Radix.
So I'm super looking forward to that.
Yeah, me too, me too.
We've been promising it for a long time, so that's great.
Let's touch on Hyperscale now.
Plenty of people have been asking for updates on that,
and I think you can probably give us a bit of an insight
give us a bit of an insight as to where we've got to thus far?
as to where we've got to thus far.
Yeah.
So obviously Dan had been working on this up until basically the weekend.
The day he passed away.
Yeah.
Yeah.
Literally the day he passed away, he had been making updates to the code.
So it was still on his local machine.
And so because we had to essentially treat this as source code, the only copy of things
have been changed there, even though a lot of it had been made open source, we didn't
have a complete view of all the things that had been, hadn't been, and whatever else.
So we were treading very cautiously to make sure that we could secure this, back it up,
make sure that it is in a scenario where we can share it securely, but also not have a single point of failure
if anything goes wrong.
So that has all been done now.
At the same time,
we obviously were looking at different options
of how we could get this code reviewed
as part of that kind of three phases
that we spoke about shortly after Dan's passing,
that phase one is really going,
what is in this code?
What is needed to spin up a test environment?
Something that Dan did himself and led on.
What do we have all of this?
If someone understands it all, can we get up to speed on that?
And what's needed?
That is currently getting kicked off.
So we're doing that in two routes.
The first is Dan worked closely with the University of California, Davis
for about the last six years, if I'm correct, Andy.
It was about six years, wasn't it?
Yeah.
So Professor Stogie from the ExoLabs team had a weekly call with Dan for the last six years,
along with a bunch of his students and a bunch of others.
And one of the really nice things was like even some of the past students kept joining those calls.
Yeah, yeah. They graduated to professors now and they were still they're still joining.
Yeah. So the this is one of the routes that we're exploring with this is that they very kindly offered to take a look over the code base because they've worked extensively down on the theory of Cerberus and with the Cassandra network. And even though they had a parallel integration
or coding version of it that they use for their academic research that's different to a kind of
a production network side, they're familiar with the theory. So they're one of the groups having
a look at this. We also have started the process of sharing this with a few community members.
I won't name them for their own sake, but Dan had shared this with, or shared a lot of the code with these people historically, and we've started sharing that with them as well.
So we've got a few parallel tracks to answer this kind of first question of what is needed to get an NWRX monop again and get this public test done.
Then from there, we can actually start going around, actually, okay, let's schedule this in, let's get this running, let's do some small group tests again and then get back on the path to doing the the large public scale
test yeah great and so the the next bit from that andy which i'm gonna hand over to you is so like
the other question around the hyperscale side is well how are things going with a new CTO, a new tech lead? What's kind of the process there?
Yeah, I mean, we've had a few initial conversations with people. They weren't an ideal fit.
We've got additional sort of conversations to be had with people. I think you've got one next week.
to be had with people. I think you've got one next week. We've had a number of people reach
out to us as well. But we're looking for somebody that's got the right skill set, but also the right
sort of vision and dedication. You know, somebody that can not necessarily fill Dan's shoes, but
you know, carry on the work that Dan was doing. CTO hiring in this space, you know, it's niche,
you know, it's going to take time. But we're progressing this in parallel with
the hyperscale. And you just, you never know what might come out. I'm in Singapore next week,
uh in singapore next week i've got a number of meetings lined up with people uh from from vcs
to other projects um uh thanks i mentioned to uh denise for setting a number of in fact she's still
working on setting meetings up for me at the moment i should do the same for you actually
for merge the the week after um so yes we are progressing conversations with a number of people.
We haven't found somebody who fits just yet,
but we're carrying on with that.
Does that answer your question?
It does.
And I think the only bit that I'd add to that, Andy,
is that as Dan pointed out,
after the hyperscale test,
it wasn't a case of,
this is just a Dan show of,
okay, Dan now works locked in a cave,
working on more and more.
Like it then starts going into production.
And so as you start productionizing that,
and it's more than a single person
that requires multiple skill sets.
So obviously there's the protocol architect side that dan had the hat on there's the cto side
there's kind of the human side of managing the team and and workload there there's also people
already who who have experience on on some of these bits and would need to have their input
there's also additional people that may be needed. And so when looking for a new person
to kind of lead that side up,
there's actually a couple of leads.
And so it's not necessarily a case of just going,
oh, we just get one CTO who has to tick every single box.
It's going, actually, there's a management role.
There's a tech lead role.
There's a tech visionary role.
There's a pro-time side.
And this could be one person, as it was with Dan. It could be a couple of people.
And it might well be.
And the right people.
Yeah. So if you know anybody, do forward them onto us.
You mentioned token there, Andy. Oh, yes, do you mention token though andy oh yes i did mention token yeah so why don't you
talk a little bit about token because you're off there next week yes um so uh yes i'm going to
token next week i was going with dan um sadly but uh yes i'm still going i've got a number of
meetings already uh lined up for being there and den And Denise is firing me stuff on Telegram and setting me more,
setting more meetings up.
So thank you, Denise, for that.
So, yeah, looking to network with people, VCs, projects.
Again, it's about, you know, my main objective from this one is about
how do we grow our audience how do we
find new communities uh and community members and get people uh in you know what are those bridges
what are those partnerships that we that we can leverage and so uh that's really the focus of my
uh my visit there um speaking as you say andy it's also the sort of thing which the community can
help so much with so denise has been helping set up meetings um constantine has been making
introductions and connecting with people um for a long time there's been other people as well in
the ecosystem i don't know if they'd want to be named but again this is the sort of thing where
one of radix's biggest strengths is the community that are very well connected, been
around the space for a long time. If there are people who you think it would make sense for
Andy or I to speak to, please make the introduction. It really helps. You never know who you may know
or what opportunities might be there. So these always really appreciated and anyone who does have any of those feel free to drop me a dm cool and speaking
of bridges do you like what i did then do you want to tell us a little bit about what's coming
coming on with hyperlane yeah so on on the hyperlane side we are next going to be getting
the solana route up and also native solana so you you'll have Sol to H Sol on Radex.
And then after that is,
or probably at the same time as that actually, to be fair,
we'll be looking at getting up the USDC from Solana
to be HUSDC on Radex.
So we've got the USDC route to and from Solana.
Again, the good thing about Hyperlane
is that means there's only HUSDC on Radex.
It doesn't matter where it comes from and then after that we'll be looking at getting support for bmb and
we're also now looking at the best way to manage um exrd through hyperlane as well yeah i was
wondering if he's going to tease that yes um be great if we can actually get that uh that done
i i have a feeling that we will.
So maybe we'll touch on that in a couple of weeks time.
And then the final thing on from my side on the foundation updates, Andy, is just the PR and
marketing stuff. So we've had some good coverage since we last spoke. Well, at least last spoke on
a Twitter space. We speak quite often. So Coingeot Telegraph had an article out about this. We've had ads, which were credits left over from the RadQuest campaign, go live on Coingecko and also Brave. I went on a podcast a couple of weeks ago called Brave New Coin. That's up on YouTube.
That's up on YouTube.
The other cool thing that we've started doing, and this is all things to intern, is that
we've been hosting some spaces and testing this out with people from some other projects.
So about two weeks ago, I was on with the chief strategy officer of Sonic.
Of course, Sonic doing fantastic stuff and an incentives campaign is a big part of what
they're doing.
So we had a really good chat around how on-chain incentives can work.
They've just started their second season. And I think that was a great chat. And then literally yesterday,
I had a chat with the product manager of Ready. So Ready is the wallet company formerly known as
Argent and doing some really cool things there. So these are just all great ways to have kind of
some, I want to say, lower effort activities of just having
30 minutes, hour spaces with these people.
It helps pollinate Mindshare.
It helps get other communities aware of Radex,
build networks, build relationships,
and yeah, going nicely.
So we're aiming to get some more of those set up as well.
And on the CoinGecko and Brave side,
we're seeing good engagement there. So a couple of million impressions on more of those set up as well. And on the CoinGecko and Brave side, we're seeing good engagement there.
So a couple of million impressions on each of those since they went live.
They'll be running for the next month or so.
So building steadily and just to kind of loop back for the community and for us,
it obviously really sucks the kind of liquidation cascade we saw last week
because up until then, we were really getting some good momentum.
Obviously, we all wanted to happen faster, we were really getting some good momentum um obviously
we all wanted to happen faster but we were getting some good momentum and building on that so
we're still in the trenches still pushing through on those things um and still keep going and it's
just a little bit frustrating we had a bit of a knockback there yeah can we move on to the ecosystem
updates because there's some uh cool ones there yes do you want to do you want to
hear off the first one andy go on then astralescent cross two million bridge via hyperlane um which i
think from the first of jan till now 4.7 um million in total rocket mayor hyperlane combined
um excellent yeah and i wouldn't be surprised if they have edged up very close to the five million
mark um since since this data was taken because that data was from um a little while ago yeah so
i think yep congratulations to uh team in and the rest of the astro lesson team there yeah
yeah excellent work and weft and yep weft have also hit a milestone so they now have uh 2.3 million dollars of tvl
um on their on their lending network so again another big milestone more momentum coming
through really good work to the weft team there um and also once again great work to you guys on
how you handled the situation last week with the cascading liquidations yes. And the Radix Hub? Yep. So Radix Hub, if people haven't tried this,
I would highly recommend it. It's a mobile app, not necessarily, it's not a wallet, but it's for
kind of getting all your news and all the things going on in Radix in a mobile app format. Users
can now collect badges, they can do some daily quests, they can track their progress on the
leaderboards, and it's got a whole bunch of more cool stuff coming.
So highly recommend giving that a go if you haven't already.
And what about Atos, Andy?
Yeah, yeah.
They launched at the start of Badex Award.
It's built by our very own Beam.
Provides historical liquidity pool performance after impermanent loss.
It's a great portfolio management tool.
I like it.
I like it a lot.
Easy to use.
You can pick your strategy, put your XID in, swap it for your assets,
click and evaluate, click rather than execute your strategy.
Really good stuff.
I really like it.
And I know Beam's got some more plans on that as well.
So all of these things are like the third layer of DeFi interactions.
And anyone who was around in kind of the DeFi summer era will remember that an intuitive front end.
So things like Atos Earn, like Lattice, like Shard Space, all of these sort of systems that simplify portfolio management,
DeFi position management become really important because at a small scale, it's like just trading
on a DEX, putting some liquidity in a DEX or something is not too much of a challenge, but
things like looping, for example, can be automated. And these are the sort of things that you can have
like different ways of leveraging
different platforms to get better yields and stuff.
So seeing these starting to come out on Radex is fantastic.
And speaking of things that are fantastic on Radex, Surge as well.
So I mentioned this earlier, so we'll just quickly touch on it.
But they've had ultra low fees on their BTC trading pairs.
So 0.01% fee on trading BTC pups at the moment.
So definitely go and give that a go.
The market always has a fun around BTC.
So that's a good way to get involved there.
Radix Wiki as well have been helping organize
Hack the South in South London.
And projects like XRD Gen, Shard Space,
and Kaper showcase some of their work there.
So again, this is some grassroots efforts going on.
And that is, of course, always very much appreciated.
And again, something the community can do if there's meetups,
not necessarily RADX-specific ones, but more crypto general meetups,
feel free to attend.
Go and talk to people.
It's an exciting space.
There's so much going on in DeFi. And go go and make connections and it's something the community can do easily
that makes a big impact from those kind of word of mouth one-to-one interactions yeah um and i
think probably probably lastly on that front the machinist and felix do you want to um yep so um as as always the machinist has ran his uh radix review um weekly
friday night twitter space um also goes out on spotify and other places so if you haven't checked
that out do so um they hosted their most recent one last week and one of the cool things i'd quite
like them doing is they introduced me to the concept of a seed phrase game so machinists
throughout the show would give like a couple of words of a seed phrase then a little later a
couple more words then a little later a couple more words and whoever basically got all of the
words first could get the wallet with 20 30 dollars of xrd in it but the thing i really like the sound of andy was um the approach that machinists had
seen elsewhere where rather than having xrd or the gas token of another network in that account
that account has say not enough to pay gas but like i know 20 of like HUSDC or something. Oh, I love it. Yeah, yeah, yeah, yeah. Or some early or something like that.
Because then someone not only has to get that,
someone has to send in some XRD to pay the gas
to move it out of that wallet.
Because obviously if the seed phrase has been said,
it's not secure.
But then it's kind of like a fastest finger
of who wants to send it in,
who wants to send a dollar in,
because who's going to be first to use that dollar
to send the funds to another account, which of course is a fun game um and also just a great
way to drive engagement um which helps the algorithm spread your your message further
yeah that's great uh i think we've got slightly out of time andy is there anything else on your
list real quick last time i promised we'd get the unstaking from the twin stake and
breven it was more complicated for reasons i won't bore you with um than i had realized but it's all
done now save i think there's four lots of 44 xrd um but everything else is um in the process of unstaking or unstaked um and i think also um
i think everybody knows now that insta bridge into past has been um closed down um and that
you know that business is in the process of being wound up they've done a fabulous job for for community um but you know that that that um has run its course um now we've
got you know trustless routes via hyperlane um and other ways um so you know um said farewell to
those guys um earlier earlier today as they go and do other things and i'm certainly sure we will
see them um in the not too distant uh again some of
them at least in the not too distant future um in fact i've already got one meeting lined up but i
can't talk about that for probably another month um so yeah those are those are my points um
yes and you awesome uh just from my side is that obviously we've been, as you let slip Andy, I've been out in Jersey with you and John earlier this week. So we've got some exciting stuff that we've been working on there that we'll be sharing in due course. Andy is off to Token 2049 next week. So as anyone in the community, if you know people going, things or people we should be connecting with, ideally as well, just see if there's any like ultra late night parties
that you can get Andy an invite to.
And then he feels obligated to stay out till 4am
before the 7am meeting.
You know how much I love doing that.
Yeah, you know how much I love that.
Oh, I know you've been getting up at that time,
not going to bed at that time.
Yeah, I've been up at that time, yes.
But no, seriously,
if anyone does have any connections there
or knows people going, do reach out.
I'll be off at Merge Madrid with Aiden the week after.
And again, thanks to Community Council for organising that.
I'll be speaking there as well
and already got some cool meetings coming in on that.
And also on the staking point, Andy,
of course, the thing that most people will be happy around,
the two big things around the Brevin Howard
and TwinStake node having all
of their stake removed. Yes. Is A, the network gets a little bit more decentralized because
they were some chunky nodes. And so that means that there's two more slots in the top 100 list
and stake is more equally distributed, which is good for all those reasons around decentralization.
But the one that realistically most people are going to care about is it should mean that we'll see the amount of APY from staking go up by about 1% next week.
Good. Good, good, good.
It's good for everybody.
Done.
Great. All right. Yeah.
Good to chat to you.
And nice to speak to everybody out there.
Hopefully I might see somebody in some some of you in Token.
Take care.
Bye-bye.
And as always,
make sure that you share this space.
It is recorded.
It'll be live on YouTube
and Spotify shortly.
So make sure you share that there.
And yeah, thank you very much.
We'll see you all in two weeks.
Bye- bye. Thank you.
