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Radix Recap: Ecosystem & Foundation Updates
Recorded: Aug. 8, 2025 Duration: 0:50:03Space Recording
Short Summary
In a recent Radix Recap, key developments were discussed, including the upcoming Radix rewards airdrop, the hyperscale public test, and the launch of Crypto Rocket. The conversation highlighted the foundation's strategic planning amidst recent challenges, emphasizing growth opportunities and emerging trends in the crypto space.
Full Transcription
Music Thank you. Music Thank you. Music Thank you. so
good afternoon everybody my name is adam Simmons. And welcome to another episode of Radix Recap.
Joining me is none other than Radix Foundation CEO, Andy Jarrett. Hey, Andy, how's it going today?
Hi, Adam. Yeah, good. Thank you. And great to be this first time we've been on a space.
I know. So this is this is something that I think we're going to
have to do, which is slightly awkward, Andy, I'll admit, because some people will have known you for
quite a while. But as you say, you've not been on many spaces and things like that, even though
you've been here for a while. So for those who haven't had the pleasure of meeting you in person
at one of the many Radix events you've been to and stuff like that, do you want to give people
a quick hello who may not be familiar with who this um penguin pfp is sure sure um i guess
if any of you've been to any conferences uh you've likely seen me uh met me there um my uh x profile
is andy.xrd um i did introduce the penguin team to radix actually is maybe a claim to fame um i was
once rumored by one of your team adam to be a penguin whale but he was a bit disappointed when
he found out in truth i've got about 10 of them that's about it um in turn of in terms of which
10 though andy well i haven't got the one of me that that's for sure. I got outbidded on that literally in the last second by somebody who's now the proud owner.
I can neither confirm nor deny any speculation that I own you, Andy.
Am I allowed to swear on this?
Yeah, of course. It's Twitter. I think anything goes.
OK, you bastard. So, yes, in terms of of my crypto journey that goes back to about 2013
um i sold a business i was a co-founder of data center business um and the it was a it's a
government quango here um asked me to come and help them on sort of strategy in jersey um and
one of the things uh the two things key things i did with them was
drive legislation on uh crypto um here um and i also tried to drive um gambling uh and slightly
perversely they were much more horrified of what i was doing in the gambling space than they were
in the crypto space and so i actually managed to get crypto legislation um through uh that was uh virtual
currency exchange uh legislation and that the idea really there was around um providing regulation
to the on and off ramps to enable an ecosystem um to grow um i found it didn't work particularly
well inside of governments they didn't move fast enough so I spent about two years there and then I left
to head up a gambling business b2b b2c in the lottery space and one of the businesses we set up
at Acuris actually was a B&B lotto and I did have an exchange with CZ on it who was
not sure whether he was happy or not that we'd taken the domain bnblotto.io and we were using his name.
So we run that for about a year, but we struggled to get traction in the sort of in the crypto space and in the BNB space.
That was back, what, 20, I want to say 15, 16, something like that um i helped set up radix 2020 um and subsequently the radix entities
um here focusing mainly on legal governance regulation uh whether we have to do uh and then
implementing it and doing it or uh often like how can we design so that we don't need it
um focusing the sort of institutional um space as well i think over the
last year uh more notably i've been working um much more closely with dan and certainly this year
i've probably spoken to him every day um weekends included um you know i spoke to him uh the sat
didn't speak to on the sunday actually but i spoke to him the sat Saturday, I didn't speak to him on the Sunday, actually, but I spoke to him on the Saturday and the Friday.
Thursday was obviously his birthday, you know, before he passed.
So I've worked very, very closely with Dan and got to know him particularly well this year and, you know, his family.
So that's probably enough of me.
Hopefully that clues everybody in and for for
anyone who has met andy at events and many of the names i see popping up in the space here
you have met andy personally we'll know that he is hugely involved in in radix and so while you
may not have seen him in the community and stuff he has been essential to the operation running and day-to-day business of the foundation
since 2020, and especially in the last six months or so. And so you probably heard Dan mention him
quite a few times, those of you who spoke to Dan frequently too. So yeah, thanks for jumping on,
Andy. Obviously, it's a shame it's under these circumstances that you are my co-host this week.
But yeah, it's amazing that it's been under two weeks, but a lot's been going on.
So I think first thing to touch on for people who maybe haven't read the blog or who tune in regularly is kind of the blog we put out at the end of about this time last week around sort of next steps given the news and what's going
on. So the key things that we have in motion and kind of one silver lining of this situation is
that early in June, as many of you know, Andy, Dan and I sat down and kind of set out the next
few months strategy of the things that we were prioritizing. And most of those are in very,
very late stages. So the big three things that we're really working on the moment are hyperlane
the radix rewards airdrop and of course that the hyperscale public tester we'll talk more on
kind of next steps there but kicking off and i mean we've literally just jumped off a call with
hyperlane why don't you let everyone know kind of where we're at with that. Yeah, I mean, I've been consistently impressed with these guys.
We have a weekly call with them.
They've been ahead of schedule virtually every week.
They ask the Red Older docs in the first instance, which is unusual for lots of people we've done integrations with.
They ask really deep, sensible, technical questions.
We turn those around quickly.
And, yeah, they're ahead of schedule.
I mean, they've effectively finished
and looking to open source the code imminently.
We've audited the code ourselves this week and not found anything which they were super
happy with and so the audit starts very soon which we don't expect to be a particularly long
process you know a week at most and we're expecting a demo from them internally at the
end of next week that's the next action on them.
And yeah, they, I will give a little bit of a clue away,
as we like to do on these spaces.
So there, as Andy said, they're code freezing today,
obviously as part of the lead up to the audit and everything.
And they're also going to be open sourcing today.
So we're not going to announce that we're waiting for them to send over the
repos and the links for all of that. But expect on Monday, unless they run into any
difficulties, a post kind of talking more about Hyperlane, formally introducing them to the wider
Radix ecosystem, and also providing links to that open source repo of all their Radix stuff. So
they're doing a fantastic job. They can't say it. If it was me, one of their most recent integrations,
the team they're working on, the Radix one,
we're doing some other non-EVM VMs
and they've only had glowing things to say about Radix.
So I think them being ahead of schedule
was them also sighing a bit of relief
at how joyous it is to work with Radix,
which again, is always great to hear.
No matter how many B2B integrators, community devs,
or anyone else who comes
and look at the Radix stack
tell us that Radix is the best place to build.
I will never get bored of hearing that.
So that is also awesome to hear as well.
So all in all, Hyperlane very much
still on track for everything
that we can see of being ready
to go live before the end of the month.
So that's fantastic. And as Andy live before the end of the month. So that's fantastic.
And as Andy said, the end of next week, we are expecting to see a full end-to-end demo
on testnet to testnet using their UI.
So we've already seen a full end-to-end implementation using StokeNet,
but also a local EVM running on their side, doing bridging either way.
And next week, they're going to have that
running on a Ethereum testnet as well to get everything staying up there. Then it's a case
of staying up the warp routes. And we've introduced some of the dApps in the Radix ecosystem to them
to start integrating the front ends. So yeah, all going really nicely.
Moving on, the next kind of big priority that we've got also hanging around this timeline is the Radix Reward Campaign.
So for those of you who don't know, if you don't, you've been living under a rock if you follow Radix.
But it's the 1 billion XRD incentives campaign that we've been discussing for the last few months.
That's kicking off also late August.
So obviously just before the recent news that kind of has thrown a bit of a spanner in the works for some of our timings.
We just basically done a token holder consultation that decisively passed that to wait to launch that until after Hyperlane is live or at the end of August, whichever comes first.
So that's all on track, the team there.
So that's all on track.
The team there, we this week opened up enrollment.
And we this week opened up enrollment.
So to speak a little bit about that, the reason we need people to enroll in the campaign is
that one of the decisions we took very early on in the entire campaign and structure is
that we want to make sure that people aren't incentivized to split wallets or have to use
multiple wallets and multiple different logins, because there were a bunch of edge cases that
get really confusing there, but also a lot of really legitimate reasons people have different wallets.
So a really good example of this is many people may have some staked XRD sat on a ledger in a
drawer that they don't use most of the time and a separate hub wallet that they use for their DeFi
activity. And they keep those separate quite rightly. And we want to make sure that the way
the system accounts for those is combining them together because it's the same person. And we want to make sure that the way the system accounts for those is
combining them together because it's the same person. So we have that linking system in place
that's not on Ledger. So it's all anonymized. It's only on the back end. But we need people
to sign up for it. And so you can now go and sign up. A, that's good for you guys, because that
means for the season zero calculations, you're already logged in there and we can start getting an idea of calculating that. But also for season one, when season one starts, it will start doing
tracking information and basically looking at positions of the accounts the second the season
starts. So if you enroll early, that means that any positions you've got are already in there.
And the other really important thing I'd say is if you've already got positions in the ecosystem,
don't worry, you don't have to do anything silly like take your LP out and put it back in again at the start of the season. It'll all be seamlessly tracked. So that's nice and easy
there. The front end's had a bit of a glow up, as some people have seen. And we're working on
not launch features anymore. We're basically hardening the code, making sure everything's
working as intended.
A few people have already fed back
a few little quirky edge cases that we fixed.
But we're working also in parallel
on the first things that are going to be added
after the initial launch.
So we're talking weeks on those
and we're wanting to add new activities
and new things week on week.
Andy, realize I've just monologued a lot on that.
Any thoughts around the Radix Rewards campaign?
No, nothing to add really
I mean we're just excited to get it out
I'd say it's probably worth saying
that John RFD surprised you with his degen-ness
and he's been deeply involved with all of that
and the testing. So yeah, just interesting to see people
within the team in Jersey actually being deeply involved
in the testing and the feedback in that.
Yeah, I knew John had done what was active in Radix.
It was only when we started kicking off
and he was joining the calls on some of our planning sessions around how the incentives campaign worked and stuff like that
that i realized he is up there for probably one of the most active users on radix defy right now
um which yeah unsurprising given his his background and his knowledge but um also
fantastic to see as you say andy so that's really good yeah and then the third priority we've
got on here is obviously the hyperscale public test so again people who've seen the blog update
this won't come as a surprise but obviously until dan's passing the big thing that dan was focused
on in his day-to-day was around getting the hyperscale test done and so that was scheduled
in for august the week of August 18th.
Understandably, that is something that isn't feasible at the moment, although we're in the process of packaging up the code, getting ready to run it, Dan was leading on that. And so there
is going to need to be someone else who leads on that. And that is naturally going to have a time
to get those people up to speed on it, comfortable with it, familiar with what needs to be done,
how it runs, how to operate that test, how to it, familiar with what needs to be done, how it runs,
how to operate that test, how to work with third parties and stuff like that. So unfortunately,
that date of August 18th isn't going to be hit. However, we are still very keen to progress on
hyperscale as a priority, as something, and especially that public test, to get it done as
soon as feasibly possible so
Andy do you want to talk a little bit about kind of the steps we're taking in kind of hyperscale
and the kind of different phases we are thinking about as we're tackling this again only a week
and a half after this news broke but just kind of gives an idea of the pace we're working at for it
yeah so a priority was securing the most recent code and backups Dan had.
That's now being done.
We're speaking with multiple people.
Initially, those that have been working close to be Dan
and those for a longer period.
And the first step really is getting somebody up to speed on the code
so we can get a proper estimate of when we can kick that hyperscale taste test off
like once we have that we can discuss um like with them and the people assisting um in conducting
the sort of world record attempt and how soon um we can we can do that so so that's that side and
and you know in parallel we're going to work on down plan to scale up the network and protocol team, because that was obviously his intention to then productionize the hyperscale code into the Shein upgrade.
So this is, you know, far as part of the longer term technical plan.
And we're going to need a technical lead for that now.
So start timeline for step one is, you know, weeks not months. We've, you know,
we've already started some conversations on that. Obviously, key to keep community updated on that.
We know that this is obviously a key priority, but given the critical nature of the hyperscale roadmap you know it's continued development we're
committed to uh informed decisions not not rushed ones you know that's really important now we just
need to make sure we're making the right decisions you know is this what dan would have done um as
opposed to just rush some things um straight So that's the plan on that.
And just to give some additional color to that as well,
it was in the blog post, but it's worth repeating here,
but Dan in many ways was, or is in many ways,
unique to his skill set in that he covered
a lot of different bases
really, really well.
And so we need to look for someone
who's A, got the technical understanding
of the code,
of actually being able to develop
and build things that Dan had.
They need to have the architectural understanding
or technical architecture understanding
to think about how that actually works
in the real world.
The edge cases,
being able to think about that as like a product lead on it not just a technical lead on it and then that
third part and he's talking about as well as making sure it's someone who has the right vision
and a similar ethos to what dan had on why we're building these things because it is such a critical
part it is a core part of the radix dna of this. And while that means that we want to do that as a real priority and get things moving quickly, can't say it better than Andy did.
It's about making informed decisions rather than rushed reactive ones.
And we all know crypto runs a breakneck speed.
It has been a week and a half. We need to make sure that we're making these choices that are going to affect Radix for a long period of time, are made in the right way and for the right reasons, rather than just quickly to pump a bit of sentiment in the next week or two.
So we're working with haste on it. We're speaking with a lot of people who Dan has been working with on those, and we'll be providing updates as and when we can.
But the key thing I just want to make really clear to everyone is one of our first priorities was making sure we had access to all the code that Dan was working on locally.
That's been done this week. So we've got that, all the backups, everything else there. So we are
comfortable. That is all secured. We're now looking for the right people and the right team
that are able to pick that up and take next steps on it.
Anything else on Hyperscale at the moment, Andy?
No, I don't think so.
I think the only other thing I'd chuck in around this,
just in more general on the three priorities together,
is when, and this is something Dan's family shared as well,
that he was the most optimistic he's been in a long time.
Ah, okay.
Around these.
And it wasn't just hyperscale.
It was hyperscale, hyperlane.
Having a trustless bridge is just such a game changer
for a DeFi network.
And the fact that we were able to achieve that so quickly
and such a high quality bridge after the restructuring.
The team, how they've been picking up incentives and everything else, Dan was super optimistic about that.
So everyone internally is really focused on making those things a success.
And while it's obviously a real shame that Hyperscale is going to take a little bit longer to get that done. Dan was
incredibly bullish around these other points, as I am, as Andy is, and it's something that we're
all gunning really hard towards about making sure we make the best of those. Yeah, I was going to
touch on that a bit later, but yeah, carry on with your next bit and then i'll i'll pick that up in a second yeah
yeah and so i think the the other elephant in the room that i've seen lots of community
questions on and one of the reasons that um andy's joined today as well is i know there's
been lots of questions around like the financials obviously there has been a expected market impact
um when the news around dan came out so and, do you want to touch a little bit on
kind of where we are there, what that means for the project and the foundation, etc.?
Yeah, I mean, we expected the market impact, obviously, on, you know, on Dan's news, we,
we sort of went into crisis comms with a PR firm. And, you know, that was beginning of last week.
And these were the things that we looked at and planned for.
We also talked to the market makers about as well.
So we did everything that we could in that respect.
But in terms of, you know, our financials,
it doesn't materially change the short to midterm
strategy that we have in place we'd agreed all of that with Dan it was fully budgeted
and you know intentionally planned not to be susceptible to market volatility we you know we haven't sold uh into market for um i want to say over a year now i
don't hold me to that date specifically but certainly not um uh it probably is a year now
uh maybe ever slightly around that give or take a bit but around that um yeah this was something
that you know dan was very keen on um uh so we uh so we you know we planned with that with with
that in mind we had targets that what we you know what we wanted to do and deliver and expectations
of uh of what that was going to do to to price and sentiment as a result of that and you know
kicking the fly world in so we we remain like super um optimistic about the impact of of hyperlane
and um radix rewards and what that will do for the ecosystem i mean i've spoken to um a couple of whales.
Obviously, I've spoken to a lot of people,
given the news, but, you know,
a couple of the whales that we've been talking about,
like, what we're doing in and around Hyperlane and the rewards,
and, you know, they've told me that they've got capital they're waiting to bridge in with Hyperlane.
So, you know, I'm hopeful, confident that this is going to drive
a new wave of momentum off the back of what's been
a really challenging 12 months.
And, you know, I guess it's bittersweet, would you say, Adam?
100%. it's it's bittersweet would you say um adam 100 you know um that he's not going to get to see this um himself and really this was a bit i was going to come on to say i've been with dan's family
this week um i know a couple of people tried to get hold of me um and i've been a little bit uh
vague about when i could talk i have spoke to all of them that did try and get hold of me, though.
But I just didn't want to talk in front of Dan's family.
And they said to me, you know, how excited he was about everything.
And, you know, his wife had said to me, she's not seen him like this for a number of years.
So that, you know, is had said to me she's not seen him like this for a number of years um so that
you know is really bittersweet he was really energized behind um all of this and happy with
you know what we were doing uh and um where things were heading so uh you know i'm determined to uh
help uh see uh all the things that we plan get delivered um in terms of uh funeral um the family want to
keep that to uh close relatives uh there's a couple of charities close to dan's heart that
adam's working on setting up a memorial page uh for and so we'll be you know communicating uh that to you uh once that's been sort of signed
off by the family etc and then we chatted to um jess dan's wife around like what given you know
people all over the world what might be quite nice um and you know i mentioned the idea of people taking a pint in the local and posting it
um you know with do it for dan uh and she really liked that idea and and um what i didn't know was
that um they have a pillow of um his dad um and he takes that for a pint twice a year once at
christmas and um once on his birthday i mean he has a pint with a pillow um the that for a pint twice a year, once at Christmas and once on his birthday.
I mean, he has a pint with a pillow and a pillow has a pint.
I suspect Dan used to drink both pints, but that's something that he did.
And so that really sort of resonated with her.
And so that's something that, you know, Adam will be will be sharing.
you know uh adam will be will be sharing so for people that you know aren't there um it'd be a
nice legacy for her to see see you know all of the people uh posting something um anything i've
missed with that no i think that's the main thing so um over the next probably by the end of next week realistically um we'll have a page up so
the charities that dan dan or two of the many charities dan supported it's actually something
that came out quite a lot so he had many charities that he supported and causes that he was he was a
very generous person was that they they have kind of official memorial pages and stuff um so
his family's asked if i'll set those up on the two charities
they want to support for that.
So when they're set up, we'll share those with anyone
who may wish to leave a tribute there or make a donation in his memory.
Likewise, in that same post, we'll do details like the Do It For Dan pint
that they think would be a really good idea.
And having known Dan a long time, Andy, you're definitely right.
The pint for him and the pint for the pillow certainly became two pints for Dan.
So feel free to order two as well.
One for Dan, one for you and drink his one.
He won't mind.
he won't mind. But yes, that'll be probably by the end of next week. Obviously, there's a lot on.
But yes, that'll be probably by the end of next week.
Obviously, there's a lot on.
The key thing that we're all really focused on is the hyper lane and also the incentives campaign.
Andy and I are working on, obviously, a bunch of stuff around kind of hyperscale and next steps for
that as a number one priority to get that in place. We already had a lot of spinning plates,
just being candid. We've got a few more now the overwhelming thing and this isn't just from myself but everyone in the radix team in the
community things even even dan's family have been comforted and seen the outpouring of inspiration
and vision dan um shared with with the space and how much people seem to have been motivated to follow this through
um in as his legacy and that's something that i feel viscerally in every part of me to to make
sure that happens and we do everything we can and that's something the team share the community
seem to share dan's family share and so yeah it's it's crazy that it genuinely hasn't been two weeks yet.
It simultaneously seems like it hasn't been that long and quite a few months simultaneously of stuff.
But the team is full steam ahead on the priority things we need to get done.
We share the community sentiment, the do it for Dan, and things are starting to ramp up again.
Do you want to touch on to sort of marketing PR activities?
Yeah.
So they've been kicking off again.
So last night I was on trade talks with.
With your beard.
With the beard.
Yeah, with a bit of a beard.
So, so far, Andy, people seem to be liking the beard.
But do let me know. I even smartened up, but
people have been ribbing me for years about my LinkedIn profile picture that I have a tie
and saying lose the tie. So I did not dare wear a tie on that, but I did stick on a nice button up
and a jacket, but no tie. But let me know. beard, should I keep the beard? A bit longer, a bit
shorter, shave it all off, let me know. But that went really well. It was a really fun chat.
Obviously, all the stuff going on in the US at the moment around the Genius Act,
all the different regulations coming in globally, stable coins are picking up massively,
digital assets are picking up massively. It is an incredibly fast moving ball now. And I think we're rapidly
approaching the stage, again, with things like the Bank of England, putting out that request for
input that they're reviewing at the moment. All of these sort of things are showing that
all the biggest institutions, nation states, everyone is going, hey, this crypto thing is a
thing. And stable coins are the first piece of that, because it's relatively easy for non-crypto people to wrap their heads around it of like,
oh, it's a dollar, but it's a dollar online. Okay, I kind of get that. And it's cheaper,
and it's easier to use cross borders and stuff. But things like PayFi, one of the other guests
I was on runs a big PayFi platform. They're getting their head around it. They're seeing
where it can go there. And again, this just comes back to Radix's fundamentals. This is going to be a thing. And the key priorities that keep coming up is,
is this going to be able to scale for billions of transactions occurring every year? And Radix
is the answer to that. Are those assets secure, predictable, able to have any necessarily compliance or regulation
around them and built in in an easy and intuitive way?
Radix ticks that box.
And thirdly, is your average person going to actually be able to interact with these
things?
Because if they can't, then this ain't going to work.
And again, Radix ticks that box.
So this is super exciting from a long-term thing.
And these are the things that are coming up topics after topics that we're getting from
the PR agency on things like trade talks with NASDAQ.
If you haven't watched that, take a look and let me know thoughts, not just on the beard,
but your thoughts on like some of the stable coin acts coming through.
We've got more of these coming up as well. Obviously we are having to work with the PR
agency at the moment on strategy. A big part of our PR strategy in the last six months
was around founder-led
marketing through DAM. So naturally, that's something that's going to need to be altered
slightly. We do have some speaking ops booked up. So in the process of working out who's going to
be taking those, who it makes sense to take those, but making sure we're not missing any of those.
So that's all getting picked up there as well. Anything on your side on that, Andy?
I mean, stable coins and regulation is a big thing that you deal with day in, day out and have a lot of experience in.
What are your thoughts on kind of genius act and all that?
Yeah, I mean, it was clear when we were in consensus that, you know, Eric Trump was driving his father on the Genius Act. And there's one of the,
he's actually now, I've forgotten his name, he's now the chairman of a pensions business,
but he used to be in Congress. And, you know, he was saying he's never seen
the amount of pressure that Trump's putting on this act ever.
And it was clear that the act was going to go through.
You had a number of forums on stable or panels on stable coins.
And in one, it was pretty clear that the Bank of America are going to roll out stable kindness.
As soon as the act passes, the state of Wyoming
was saying, yeah, we're doing one as well. So it's clear that that's being pushed forward.
But what's good for everybody is clarity on the regulation, because that will mean that
the financial services businesses know what they can do, in particular the banks, what they can
and can't do. And then it will grease the wheels, enable things, you know, everything that can move
because there's a legal framework for it to do so.
So I think you'll get a continued acceleration.
And once the US move, you know, everybody else is going to have to move quite quickly
behind it.
You know, the UK are dragging their feet.
Hong Kong are making announcements left, right and centre.
Singapore's moving.
Dubai are probably moving faster than anybody else.
They've literally just released, I'd have to check my mail,
they released something just yesterday around their digital assets framework and their regulatory framework coming together, Envira.
So it's really good for basically for our space.
And you're seeing the TradFi companies sort of scrambling around now, trying to catch up.
trying to catch up.
There was two interesting things that came up on NASDAQ last night
when I was speaking, Andy, that I'd love your thoughts on.
So one that I hadn't actually considered before was,
obviously, there's been a lot of news recently around China
no longer buying UST bills as part of their standard policy.
And the Genius Act, like bank-issued stable coins,
they're going to treasury a dollar,
which they're obviously allowed now to go and use that
to buy a treasury bill in order to give an end user.
So on one, this is like a huge opportunity for the US
and any other jurisdiction that brings it up
to actually have some far more retail engagement and retail money coming into their, their guilt and bonds. And I think
that's really interesting. One I didn't actually realise in the Genius Bill is that they're legally
not allowed to pass on any of that interest though. They're not allowed to have interest.
Yeah, yeah, yeah, yeah, yeah, yeah. Now what I was thinking though, is do you know, because while they can't pass it on
directly, does that cover like indirect passing on?
Because my personal thesis is, forgetting about the regulation there for a second, is
this is going to be a race to the same as you see with like large index funds.
It's a race to low cost.
There'll be a few stablecoin issuers.
There'll be many of them, as we're seeing now, many springing
up, state of Wyoming, different banks, like there'll be loads of competing digital dollars,
but eventually it'll consolidate down to a few. And that'll be the ones that are the cheapest or
have the best benefits. Now, if they can't pass on the direct interest coming from the underlying
collateral or any of that, what about things like reward points? What about like, does that fall
under that, do you know? Or is it like, you know, the normal tricks like, oh, if you've got 10,000 more digital dollars from Adam Bank, I can't give you some of the yield I've got on that.
But you'll get a bonus on your mortgage application or a low interest rate on a car loan or something.
yeah yeah i think you're gonna obviously you're gonna see innovation in this space
Yeah.
Or air miles.
Yeah.
of things that you can think of like you've just thought you've just mentioned and you know and
other ideas and and and people will push the bounds you know the boundaries of you know what's
what you can do um and what you can't do in and without the regulatory framework.
But I think that what you're going to see actually is so what the US are trying to do
with a stablecoin bill is basically make people buy dollars and secure that.
And that makes perfect sense to them.
You've got other people.
If you look at SockGen, you know, they released a stable coin in France of all places.
And I say that of all places because, you know, regulatory, they've got, you know, every money on France being the next the next issuer of a stable coin.
No, but SockGen did it there and they did it with, you know, MIFA and, you know, FATF and all of those things. And they did it. And, you know, it's for liquidity.
So I think you'll get people doing non-year-bearing stable coins for specific use cases, you know, come and do this.
There'll be countries going, look, if you want to interact with me in this particular country, then you need to be doing it by it with a, you know, a Durembach stable coin for you know picking on on on um dubai
you're gonna you're gonna see all of those things play out and then um but then there's going to be
pockets of liquidity um you know i came back to my gambling days that's what happened with um that
happened with poker um and liquidity of poker pools and it got regulated and they got smaller
and smaller so that'll ultimately as you as you mentioned probably die out and people will use a particular one but um the yield bearing ones is
the ones that they're not regulated right now and they don't like but i think you're going to see
them crop up left right and center um or you're going to see you know it's ultimately backing
treasury bonds like you may see governments actually leaning into that so like the us going
hey digital dollars they can't be
yield bearing. And then suddenly say like Europe, or let's say the UK for argument's sake go, well,
actually, we're going to let some of that get passed on because we want more retail capital
ultimately coming into UK government bonds. So we will let people issue them and pass that on
because that gives us a competitive market on global capital markets. And I think that could be a way we see some of this starting
getting in is actually inter-country competition.
Maybe not Europe and the US, but in Asia, China, et cetera,
could start looking at those as well.
Yeah.
Then there's the other, and I'm sort of conscious of time,
but the other thought here is that
a bank's relevant anymore like if you look at um the the the a lot of people certainly the younger population they've got revolute monzo you know these aren't even banks right they're they're
emis so they don't they don't they don't really get that you need
a bank or they don't understand that they're they're not banks um and you know then the more
crypto savvy are putting their money in you know athena and things like that that's backed
um and then they're getting you know nine percent yield rather than maybe three percent um so i think whether there's um
as we roll forward um whether the the whole sort of banking infrastructure will look the same as
it does i i i think it's debatable um it's actually one of there's a there's a consultation
going on in jersey at the moment um mckinsey are running for for the government here and and myself and a few other in the crypto
space have fed into that and you know you've got the tradfire people going oh we need more banks
and we need this that and the other and there's some of us going i'm not sure that banks are going
to be around in you know in 20 years time or they're not going to look anything like you think they look like now um so i think yield bearing definitely um they just don't know how to deal with it and it
gets them outside of the you know the securities um regs for the time being um but i think they're
coming um and i think you'll get fragmented liquidity ultimately you might get the you know
your air miles points um i don't know the the other one
we should i'm conscious of time as you said dandy this is a talk we should carry on like you're
smashing it on here andy we need you on more spaces um but like on on the the final bit i'd
say on kind of tying it back to radix stuff as well as other than just like where these stable
coins are issued the other thing that is going to really come in is that assuming that
other nations follow the US and we end up with multiple like digital euros, digital pounds,
digital yen, whatever, is that we're then going to start seeing DEXs become really important
for flipping between those and for global trade and global interaction. And again, another massive
USP we've all known for ages of DeFi, 24-7 market. I want to go and buy something from a Chinese
manufacturer, send it for advanced production in the US before shipping it to the EU, but I don't
want to manage all the local currencies and everything else there. That can all be done
programmatically if all of these different currencies they're looking for instantly on the backend through
DEXs. And again, that gets even easier if it's all on one chain that can handle that throughput.
We're back to Radix again. So it's such an exciting time. And these things, you only have
to look at other real paradigm shifts of industry and especially platforms like this, they don't seem to grow quickly until they grow suddenly.
Smartphones are a great idea, like great example of this.
The internet's a great example of this.
At first you're like, who's going to use this?
Then there's a few enthusiasts using it.
And it seems like it takes a while to get traction.
And then suddenly it's like almost overnight,
everyone's using it.
And that feels like where we're starting to get
to that sudden hockey stick part with this regulation piece. But definitely a topic we should pick up another time,
Andy, because, yeah, you're so knowledgeable on all of this stuff. And it's going to be so
critical over probably the next 12 months in the industry. But conscious of time, final thing we
need to get into is, of course, the ecosystem updates. Before I start the ecosystem updates,
if anyone would like to come up and ask a question or something request to speak post a
question and reply that's all all good um we've got a few minutes but we don't have the full hour
unfortunately uh but first up for news crypto rocket has gone live and so they went live on
the 7th of august nice completely on's completely on chain, completely online verifiable.
It's great fun.
Give it a try.
Give it a play.
Obviously, don't risk more than you can afford to lose in anything like this,
but do have a good play with that.
I also do want to just give a shout out to The Machinist and also Felix. So they run the largest Radix community Twitter space or X space called Radix
Review. Also on a Friday night, a bit later than our one.
But on the 1st of August,
they did one for the community around the news with Dan.
And I just want to shout out both Machinist and Felix on that for how
incredibly well they handled that.
And for all the people who shared stuff on the space.
And also I know multiple people from Dan's family tuned in and listened to incredibly well they handled that. And for all the people who shared stuff on the space.
And also, I know multiple people from Dan's family tuned in and listened to them were really touched by all the words said. So thank you, Machinist and Felix for running that and everyone
who spoke there. It really was really well handled. Next bit of news, Surge. So Surge have
supercharged the Surge account management. I won't try and say that
after I've had the two pints for Dan too quickly. I don't think it'd work too well. But yeah,
supercharged Surge account management. So you can now manage all your accounts and wallets with
ease. You can set and manage permissions easily through their front end UI. You can view collateral
across all your wallets and all your accounts. So again, Surge continuing to ship, doing a good job there. And then the final ecosystem update is Addix. So Addix, this is a
couple of weeks old, so apologies for not getting this out sooner. But yeah, Addix, their fund has
had a site update. They've now got more um for apys from there and and how basically the
positions are broken down uh their deb's hasib and marco have also built a bot that tracks new
commits towards their fund um so you can follow that in real time on their telegram
um that we may have missed some ecosystem updates so if any builders are tuning in and we've missed
something i do apologize i hope you can understand that it's been a pretty hectic 10 days or so. As always, if there are
things you'd like to be seen on there, all the builders in the space, if you're not already in
a Telegram group with us, please make sure that you reach out. And if you are in a Telegram group
with us, please make sure that you tell us of all the cool things you're doing so we can shout it
out on this space. One final um stand-up call
for anyone who wants to ask a question or anything or request to speak um but Andy any any final
things from you if not oh just just uh completely off topic but something that's very dear to my
heart and um people that know me know that I've been crusading about this now for three or four months.
Earlier this year, playing football, somebody on the pitch opposite me had a heart attack
and the guys around him, there was a defibrillator, fortunately managed to keep him alive for
the ambulance to arrive and he had a heart bypass operation in Oxford some days later.
Three months ago, one of my best friends, he was out cycling, had a heart attack.
Fortunately, a doctor was literally jogging the other way where it happened, figured out he wasn't breathing.
And also, fortunately, in the group of people that was riding with Sean was a nurse.
And she sort of stepped straight in and there was an ambulance there again, fortunately, about a mile away.
He won't mind me saying he he he had lost 60 percent of his blood throat through his arteries.
He had no idea about it. Dan died of natural causes.
I'm not going to go into any more than that. Please, guys, we don't go to the doctors.
At least, you know, most people I speak to know takes no time at all cost me about 40 quid um
and you know whether you've got anything to change in your lifestyle anything that you know you might
need to get looked into um you never know it could um help you so please go and get yourselves checked.
Hear, hear, Andy. I'm already booked in. Thanks to you.
Good.
On that important note, I think that covers everything for today. Thank you all for tuning in. Thank you, Andy, for joining. We'll be back in two weeks' time. And thank you everyone in the community for your continued support, presence,
and dedication to making Radex everything Dan and we all want it to be. Until next week, goodbye.
Thanks, Adam. Bye-bye. . Thank you.
