Mike check. Mike check 123.
No, can hear you loud and clear Grover. Good morning,
everybody, or good evening. Good afternoon.
Awesome. Uh just waiting on, uh, okay, this is the first time
Awesome. Just waiting on a...
Okay, this is the first time our mic check hasn't worked. Is anybody talking?
Yes, sir. Can you hear me?
I'll shoot Grover a message real quick. Tell him to rejoin.
Oh, he's going to do it anyways. All good.
Typical spaces. Have to have some technical issues in the beginning.
We'll just give it a couple more minutes and then we'll get started.
Yes. Can you hear me? Yes, sir. Okay, great.
Excellent. Excellent. In a world where AI can
tell me my entire life story and I can
Google anything I want in the world, we still can't get
a function of voice chat to work, but we're getting closer.
I'm optimistic about the future of Twitter.
Yes, even though spaces are broken,
we still love them and we still use them as much as we
get. We're kind of trapped, but it's
okay. It adds to the excitement. It looks like we
have everybody we need, so I'll go ahead and get started.
My name is Joe. Sensei Joe is, I like to call
myself within the Sei community. Co-hosting with me today is
Grover, our head of marketing at Sei, and then we also have
Pith here, Yakka Finance, and VDEX AI.
Should be a nice alpha pack spaces and a good opportunity
for the Sei community to kind of hear about what these
teams are cooking and what they're excited about
in the future of Sei. Let's go around and kind of introduce ourselves.
We'll start with you, Grover, and then we'll go to Pith.
Sure. My name is Grover. I'm
the head of marketing here at Sei. I've been with the team since just about the start.
complicated things like optimistic concurrency control
simple, so all the left curves like myself
can enjoy and understand what Jay's talking about on Twitter
spaces. Great to be here, and maybe Yakka, if you want to go next.
For sure. This is Ray, the
community manager of Yakka Finance. Super happy to be here and speaking with
all these ecosystem projects, and Sei, most importantly,
and Pith as well. Yep, it's my honor.
Hi. Hello, everybody. Can you hear me?
Hello? Loud and clear, sir.
Okay, good. This is Kai. I'm from VDEX.
tax aiming to provide centralized exchange
trading experiences for everyone.
Lovely, lovely. Nice to have you, sir. Alright, let's go to Mark. Nice to see
you again, Mark. It's been a while since their last spaces. I guess a month
or a bit more. Time flies when coins go up.
Thanks again for having me. Always a pleasure talking to you and
engaging with the whole Sei community.
So, Mark, I work for the Pith Data Association. We contribute to the Pith
Network. How can we call you anything?
Could the other hear me? It looks like I can hear Mark
and I can also hear VDEX. I can hear you too. I think VDEX
might not be able to hear everybody.
Then I was about to shell Pith. Right.
We're tired of your Pith pitch.
Hello? We can hear you, VDEX.
VDEX needs to go down and come back up again and then we
should be good to go. Alright, and I'll just finish. So, Pith Network, Blockchain
Oracle, specialized in price feeds, about 450
price feeds, permissionlessly available on 50
plus blockchain, and of course Sei is included.
Actually, we've recently expanded further than
just price feeds. We've released Entropy, so Entrion Randomness
Protocol for all the GameFi, NFT
world, or wherever you might need some Entrion Randomness.
Awesome, awesome. I'm looking forward to hearing
a little bit more about that later on in the spaces. Super
exciting stuff and something that a lot of people have been waiting for and asking for.
So, very cool. So, okay, so now that we know who is here,
let's dive a little deeper into the projects that you
guys are kind of working on. So, if you guys wouldn't mind,
it might be a bit redundant, but a brief overview
of the project and maybe your core vision behind what you guys are
working on and where you see the space going. So, we can
kind of keep this same lineup with Yaka
starting first. So, if you don't mind, Yaka, go ahead.
Yup. So, Yaka Finance is a V33 DEX. So, it's
basically a decentralized exchange like other AMMs. For example,
I believe that most people are familiar with
SushiSwap, Uniswap, or PancakeSwap. So, you can
imagine Yaka Finance being one of them. So, the core vision
behind Yaka Finance is that we are trying to develop
a liquidity hub that's natively for say, meaning
that we have the best liquidity, the deepest liquidity for
I would say most trading period that existed in the wholesale
network, including some of the long-term assets.
But what's different than other DEXs is that
we use a very unique governance system design, which is
inspired by Andrei Kranier. He's the DeFi
Genius. So, that's a brief
introduction of Yaka Finance and the core vision behind us.
Excellent. Well said, sir.
VDEX, can you hear us all right?
I'll shoot some messages behind the scenes, but
we can kind of go to Mark from Pith while I kind of figure out
what's going on here. Yeah, very much. So, like the grand
idea of Pith, among others, is, and I mean, you could
describe this almost to your parents, how Pith is designed
and what we want to achieve. It's a bit like Spotify for financial data.
We want to onboard data creators
or owners, and that's how financial data,
it's arguably the most valuable data in the world, maybe with medical data.
And most of this data is actually living behind world volumes,
like Apple stock price. To get the life price of this,
it would cost you $1,000 and $1,000 of US dollars.
So, the idea is to actually go and find
entities. It can be crypto exchange, stock exchange,
decentralized exchange in crypto. It can also be traders.
And so, attract these, let's say entity, we call them data publisher, to the network
to contribute their proprietary data. And from there,
pretty much, this is the supply side, and on the other side, Pith network
delivers this data to 50 blockchain. So, all the DeFi apps
can pretty much pick and choose
whatever feed they want, how many they want,
the frequency at which they want to consume the data, and as they consume it,
they'd have to pay fees to the Oracle. So, very much
the idea is to have a financial data marketplace
and very much focus initially on the financial aspect.
And I mentioned on-chain Remden-ness, so this is a
very different endeavor than the initial Pith idea.
And this overall was based on feedback and
requests from existing applications. It seems that
anything on-chain, let's say casino gambling
or just raffling, whatever, is
And given that the Pith network, its price feeds are known, let's say
for its sub-second latency, a bunch of the requests
for this on-chain Remden-ness was, okay, can you actually make it faster
and cheaper than the competition? We felt we could, so we just shipped it.
We have other kind of idea on how to further improve
the price feed DeFi aspect, but wherever
we see we can ship something of value, we'll do it.
I wouldn't expect anything less from kind of the Chads at Pith, so
I think while VDEX is kind of figuring it out, we'll just
move on and we can always come back and
ask them these questions once we get them back up here.
Now that we kind of know what these teams are working on,
I think it wouldn't be a safe space unless we talked a bit about
Say v2. So I'm going to go ahead and call on
the head of marketing at Say Labs.
What inspired the development of Say v2?
Is this something that Say saw as a
recent narrative and quickly hopped on the boat or is this something that Say has been working on?
something that we, Say Labs, decided to build
in response to quite a big need, which is that basically
all EVM chains, so all blockchains
that are running EVM right now, they process
transactions in sequence, so one after the other.
So Say v2 is basically the first
fully parallelized EVM blockchain and what that means
is that instead of happening one at a time, transactions all
happen at the same time. Very simply put, there's a lot of
caveats and nuances to that, but maybe the best way to explain it
is imagine an international airport and
let's call it Ethereum International and you've got one runway,
only one plane can take off or land at the same time.
On Say, Say International Airport, you'll have hundreds and hundreds of runways
so that hundreds and hundreds of planes can all take off at the same time.
Now, in that analogy, imagine planes are transactions. It's a little bit like that.
It's something we've been working on for quite a long time
and we think that by building it
openly you can go check out the GitHub, it's all kind of there, the code is
sort of being built in public. We've got the recent public DevNet
that was published that a lot of people are going and trying out
right now, so I know Yak have deployed there, Pith with their
on-chain randomness have deployed on there as well. So yeah, we're really encouraging
as many people and as many teams as possible to come and
deploy over on Say v2's DevNet right now.
So yeah, we're really excited and we're really excited to see sort of
what new design space and like
what that opens up for teams because if you want to run
an application that needs more than 30 to 50 TPS on Ethereum
you can't really do it, or even on Ethereum roll-ups you can't really do it.
Now on Say you'll be able to run apps in a space with
thousands of TPS and under 400ms
time to finality. So yeah, it's really like
a step forward we think for the whole space and we're really excited to see
what guys like these teams here build on Say v2.
I like the plain analogy.
That's the first time I'm hearing this one. This is good. I like it Grover.
co-host, maybe you can invite vdex up. I don't know if
it might not be working. We'll see.
We'll keep trying though, but I'll kind of
move the spaces along in the meantime.
Now that we have some context on what Say v2
is and what the parallelized EVM is, I would love to hear the
perspective of some of the teams building on Say and Say v2 on
what is the most exciting aspect of this?
What excites you guys as builders with this kind of new
innovation that's coming to the crypto space that we're seeing with
Say v2. So I can go ahead and start with Yaka and then we'll move on to Pith.
DeFi protocol ourselves, I believe the most exciting part of
Say's parallelized EVM is that we finally get to connect it with
the rest of the DeFi space simply
because the DeFi space works together as a big piece
of LEGO so that with all these blue trip assets and all these
protocols running behind, I think it's a better chance for us to
connect with all these LEGO pieces to sort of like boost up the
capital efficiency for most users. And I think that's
an essential part of us running our business.
Also, I believe, Say v2, 3X and ourselves,
as long as there are participants, our governance
system will work, our fly will fly, so I think it's the
best, the most exciting moment for us to finally get
By that, I mean parallelized EVM sort of like boosts
up the accessibility and also the
support for Devs and also for other projects as well.
Awesome. Well said. We got vdex back up here, but
we'll go ahead and hear from Pith and then we'll kind of loop back and
Hello, can you hear me? Yes, sir. Loud and clear.
Sorry about that. I can't hear you. I don't know what's going on with
the technical problems, but vdex is
let's just cut through the chase. So vdex is about the
derivatives trading and we can explore
high quality, the fastest
speed and also the high PPS
there and try to lower the cost of the trading
and procure the ping of the
liquidation in the derivatives trading
space. Basically, that's the aim of vdex. Hopefully
we can do something about it and we have quite unique, salient
neutral mechanisms and we get
kind of innovative perpetual options
these kind of products to protect both the LPs
and the traders to have them
enhance the risk adjusted returns. That's the
vision and we want to provide to the blockchain world
basically. Well said, sir.
We do have this belief that trading
is the core use case of crypto at the moment. Whether it's
trading NFTs or trading on DeFi protocols
trading plays a really, really big role
in what we do in the crypto space today. So I'd love to hear that perspective
from you. So I'll kind of go to Pith to talk
about what excites them the most about v2
and then we'll kind of circle back to you, vdex.
I think the first big part I think is very much
introducing this EVM onto
SEI. I don't think it's a perfect
virtual machine language but
most of the blockchain developers today must
have DeFi or GameFi or whatever or using or building
on EVM. So I think for the whole ecosystem, for the users
it's going to be amazing to benefit from
seeing a bunch of apps going to market super fast
and same for developers. Kind of without learning a whole new language
they can ship on something that is
a southern X more efficient than Ethereum layer 1, for example.
So I think that's super exciting. First
I think maybe we'll see kind of the same Z
protocol on v2 but as people get
more immersed into it I think we're going to end up with protocol
way more complex in their design just to enable
I think we're the biggest
I mean I'm no engineer so I cannot print hello world on a console
so as a retail user I think this
the throughput with this parallelized EVM is going to bring
amazing UX for the vdex perps
where the yaka protocol. So I think it's going to be very much
the user that are going to benefit the most from this SEI
I like that perspective a lot. I think we lost vdex again I just noticed.
Okay I'm going to bring it back up. But yeah I think the increase
of users is something we're all looking forward to as well.
Today you have to kind of make a new wallet. You kind of have to get
onboarded into a new ecosystem but with the implementation of v2
anybody who's already onboarded into an EVM ecosystem can
come to SEI with a few click of a button.
We're pretty excited about that as well.
I just wanted to add there as well on Mark's point about
Four Pillars wrote a report about SEI quite recently and at the end they put this section about
Spotify. At first I was like what do you mean
what's the comparison here? But it turns out Spotify had a similar
obsession with reducing latency.
The driving thing there was as soon as you click play on a song
it should just play. You shouldn't have to wait for even a few seconds
for it to happen. It's kind of a similar idea
where we think it is actually super important. Users want to have
a web2 experience where things happen when they click.
Another one of the driving things here like pushing
the time to finality as low as possible so user experiences are just
comparable to web2 experiences which is
going to be really interesting. At the start
honestly I do expect to see a lot of forks and things that we've seen before
but over time we're going to see what developers can really build
and do. Now they have this new toolkit to
work with. The limitations of having to take stuff off chain
are now gone. What can you bring on chain? What can you do? You can do more complex and more
interesting transactions on chain. What does that sort of let you
do in the future? Really excited to see what people do there.
That's my catchphrase I think. But I think it's genuinely true.
It's going to be something that none of us really saw coming is my take.
That's just my two cents.
I'll take your two cents any day Grover. Very well said.
I love that analogy to Spotify. It makes a lot of sense.
I think in the current world we have we are
super impatient and we don't even want to wait a few seconds for anything.
Speed is more critical and crucial than ever before.
VDEX can you hear us sir?
Yes, car is gone so now it's Mike now. I'm good.
Okay nice. How's it going Mike? We would love to hear
what excites you the most about V2. Is VDEX
going to deploy on V2 or is it going to be on the current
say V1? Good question sir.
First we are going to deploy on say V1 but
V2 is definitely interesting cause of the UVM of course
the speed and the parallelization and then most importantly
we get access to a large much grander access
to asset list and so as a DEX we obviously
want more assets to get access to. For example
liquidity like more coins to trade.
Basically what we are doing on say V1
is that we have two pools. One pool for blue chip tokens like Ethereum
but the second pool is for meme points
like Saiyans or that kind.
Basically we would love to onboard more coins
to our second meme coin pool.
With the UVM going on I would say it's looking pretty good
Just a clarifier there for the audience as well. When we talk about
say V1 and say V2, say V2 is the same blockchain as
What that kind of means is that any apps that are deploying right now are deploying on an execution environment
called Wasm, but that will also
benefit from everything that's being discussed in say V2. It will benefit from
say DB, it will benefit from all the improvements there about state management
and storage and also there will be the interoperability piece.
We are going to release much more about that quite soon but it will be possible to interact
with applications like so see your NFTs that you have already minted
on say and interact with Palette, Astraport, VDEX
everything that's deployed on say V1
or I guess we could call it say right now you will be able to do that with Metamusk
or any EVM wallet you would like. I think that's a really really important
clarifier. It's not like you're going from iPhone 4 to iPhone 5
it's more like a big software upgrade to your existing iPhone
Well said sir, well said sir. Since I have you here Grover I know you have a hard
stop in a little bit but I would love to hear is there anything else about
say V2 that is unique or is that
exciting? Are there any other features that our users and
say community should be looking forward to or is it just simply
the implementation of EVM and that's it?
So we have the new execution environment with EVM
I won't get into say DB2D but that brings
a lot of performance enhancements and improvements for users and also for node operators
Node operators bless their souls they're trying to keep up with say
as best they can and it's pretty hard so helping them
to state sync and things like that, that's something that say DB addresses
We also have this, I mean all this stuff about parallelization
again like the end user doesn't really need to know about that it just results in
a higher throughput. I think one way to make that quite concrete
is we can all remember a time when there was an NFT mint on
Ethereum mainnet and that meant like oh man I want to send you some gas but I can't
because there's an NFT mint going on so we just have to wait, like gas is spiked
we just have to wait for a bit but what this means is that with parallelization
different transactions that touch different parts of the state don't have to
queue up with each other so if there's an NFT mint, cool well I'm not taking part
in that mint so I don't have to queue with those guys. That's kind of the way I
explain that. So yeah all of this plus
most of the EVM or Ethereum
infrastructure that you're probably familiar with will be
making its way to say DB2. Watch out for some more announcements coming up
there's a bunch of very very interesting conversations
going on all the time so yeah let's
Alright thank you so much Grover. So I'll ask you a few more
questions to kind of the talented builders up here and then we'll open up the stage for
the audience to come up and ask some of these teams
whatever is on their mind it's a great opportunity to
kind of ask them directly so we'll go through a couple more questions and then
we'll kind of open up the stage for the audience so
anybody who's listening feel free to start thinking of what you want to ask the teams
and start requesting and I'll kind of bring you guys up shortly.
So one question I'm sure a lot of people are having
are what is kind of the roadmap for your project
when can we anticipate to see you guys live on
either say current say or say
DB2 and how can the community get involved
you know how can we take part as someone who is eager to
support the talented ecosystem teams that are deploying on our favorite chain
we can go ahead and start with Yaka.
Yeah I think our role ahead is pretty clear in our
mainnet will become a friendly
fork of Thena so like by saying fork
it doesn't mean that we are not innovative we still have like our community launchpad
going on but the fork of Thena means
you can pretty much imagine this fork being an
SDK for V3.3 Texas that's widely adopted
by other industry projects
as well. So besides that we'll also integrate with
Algebra with Gamma strategies with
Ichi Foundation as well to provide concentrated
liquidity feature on say which means that
we'll provide a deeper liquidity than other V2 Texas on say or
other network. That's pretty clear
and what's coming up next the most urgent thing is
we are launching our testnet campaign stage 2 with
testnet version on the devnet
so in that stage 2 campaign we'll be
working with other Seiko projects to co-launch a
campaign called the Treasure Hunt so there will be 10
participating projects in total including
us so by swapping the dedicated
tokens or you know pairs you can unlock these badges
which will grant you points later on. So
one alpha here so compared to stage 1
we'll double the incentives in stage 2 which means that all
stage 2 participants will receive we'll share
what's doubled on the airdrops
so I think that's one of the most exciting things
that we're looking forward and all the users are expecting as well.
Very well said sir and since I kind of
have you up here and I'm sure a lot of the Sei community would love
to hear a little bit more about this. I know you guys recently had launched on
devnet but I would love to hear a little bit about kind of the
yaka voyagers that have been making waves on Sei.
Is there any how has that been?
We know that Sei has been a really big NFT chain which has
been a delightful surprise. How does it feel having
quite the successful NFT collection with a pretty loud
Appreciate your question so yaka voyager is a collection
it's an NFT collection that we launched about a month ago
the reason why we launched it is simply because we don't want to
be too far away from the core of Sei community and we feel like
the Sei community is super high for the NFT
ecosystem so we launched our
collection and we want to make yaka voyagers
a collection combining both NFT
and DeFi and hence why we are
I guess that's the reason why we are being so successful because we are
unique and we are innovative as well so we grant users
or NFT holders with DeFi utilities
with refshare as well. So I think the success
of yaka voyager and the milestones that we achieved
dependent on the support of our community and we've been
responsive to community's feedbacks. I'm sure that
most of the audience who are listening that know us, that know
Ray's, myself should be familiar with how we handle
things. We are super open to community feedbacks
so recently we've done a poll on how
we should make NFTs taking a thing
and to give users more utilities and by hosting
that polls we sort of become a democratic
party or sorry a democratic
project that listens to its own community and take
feedbacks from it and sort of deploy the next
steps. So I think yaka voyager is a big part of the
it's a big part of yaka finance
but we are more than that. We are a DeFi protocol.
Very well said sir and I appreciate you kind of answering with
candidness and on the spot there. So let's go to
VDEX. So what is kind of the roadmap for VDEX
when can we anticipate to start trading on VDEX
and yeah let's start there. I do have a follow up question
too after that but how can the community get involved and most importantly
when can the community get involved because I'm sure a lot of us are excited.
Oh yes. Thank you. Thank you for the question.
Definitely. So we are actually trying a bit of a new things right now. So as I
mentioned there's the second poll we are building
the main poll that we are welcoming for every
parties to join in of course. So yes
I actually send out an invitation here right now right here.
So yeah and second of all apart from the second poll
mechanism. So basically LP delta neutral
mechanism. We are thinking that people are trading
here and then the perp price are not quite right sometimes. So basically
we are introducing a mechanism to
make LP even more having a higher
shop ratio just to say that. So
as for the community of course we have an early
community member program which is basically
okay. So basically we have
an early community member program which we will onboard
new community members to like to post and social quest
and such. And then of course we have a say
devnet beta campaigns coming on as well. So
yeah I hope that answers your question.
Absolutely. Let this be a reminder
everybody who's listening make sure to follow all these teams up here and kind of support
the chats that are contributing to the success of the say
ecosystem. So sounds like there's a little bit of an alpha drop there to
keep an eye on vdex. Another question I had for you and I think
a lot of the community as well we know that AI is a super
hot narrative right now and almost everybody uses
some type of AI in their daily endeavors. How will
vdex kind of utilize AI within their
protocol and Anse? Well I'm glad
you asked us a question. So AI is basically used for pricing.
So we are not using an order book to generate
price for our option product. We're actually using AI to
just you know it will itself give out
price so that there will be no need for order books
thus we can have much much higher liquidity
for traders to enjoy and you know less
price lagging to say. So basically we are using AI
to price our option product. Yeah if that's clear.
Very clear. Thank you. Thank you for answering that. Okay let's
go to Pith and then after this we'll kind of bring up some of the audience members
to ask questions themselves. So Pith how can we
get involved or I should say Mark from Pith. You know how can the say community
get involved today and I would love to hear a little bit more about
you know thing I forget what it's called excuse me that you guys are going to be
implementing that a lot of people have been looking forward to. So yes I'll
start with the latter part. So on-chain randomness we call it entropy
so I think if you're an engineer like you have to be an engineer for
to talk to you by the name because oh I've looked up the definition and
now I forget which pretty much I think you can get when you get randomness
into a closed source system I think it's called entropy or something
like this. And yeah I'm very much looking forward
especially like we heard about the NFTs but it's
somehow like it's a whole kind of
sector of crypto I am kind of still
estranged a bit I mean I have a couple NFT here and there but
we're only kind of scratching the surface into all those kind of
social activations on the blockchains
so with entropy and I think yeah today we're alive
on savee2devnet please try it out
provide feedback like it's not yet mainnet so it's time to
iterate on it and actually looking forward to
maybe some say hackathon coming on soon
like we just participated in one with Ncode
last week for this entropy and it's always great to see where
the people built in this very much
I guess for entropy it's still kind of we're testing the waters
like we go against let's say
ChimmingVRF which has like 99.9%
market share overall I think so we're kind of testing the water
and this is also where you can you developers help us
ship something amazing because like product is new
we're ready to iterate on it we've actually collected plenty
of good feedback on the design so
on this part I think it's going to start slowly and then
like whenever there is kind of a
PMF or app that completely explodes using that will be
kind of way more focused on this but
more community wise let's say and product wise
we'll keep iterating like for example say it's going so fast
we might have to spend some time on actually working
on improving or fastening the piece price
feeds because for the longest time the piece price feed update
time it was faster by quite some margin versus any blockchain
is say continue to increase its speed we'll have to actually spend time on it
so I hope you don't go too fast too soon
and community wise so the big thing that's currently ongoing
is the PIF governance and actually
we are currently electing the members so there will be
eight members of the PIF and council so PIF and council
comes from PIF like it's kind of the name of the community members
this council is very much like the security council so the election
happens on chain you can go on our Twitter we must be tweeting
every day about it with the links in the reply so
overall the idea is the PIF token
was launched in November purely a governance token
and very much right now is making
the PIF DAO alive and enable
all the community to kind of drive where the network should go
so it takes some time it's quite stressful to be fair
because like compared to day one when you have the
multisig you can do something in five minutes here it's kind of alright
we're gonna have to convince people but I think it's very exciting
like people love it we've seen like one community member
actually applying to be a member of the council the rest
are like often teams that are using PIF
so I think like synthetics is a big name that has applied
Solend we have Tala etc we have also a
few data publisher so this is ongoing we'll actually have
another election coming up next week
for the second council that exists today so very much community-wise
we're kind of into this like the first stepping stone
to have the network fully decentralized and governed by the community
and I cannot wait to see those live and work in practice
because overall in infrastructure like you don't often
see this most of the time it's the labs entity or the foundation
that has all the multisig here we're gonna end up with
a fully decentralized Oracle so I think this is super cool
but we have to be careful because decentralization for decentralization is
like not a goal like if PIF has grown that much it was because
product was good but we traded fast for the past two years
so we don't need to introduce governance to then become slow
and just become irrelevant so that's the big thing
and after I mean more light weight
we do we started doing bunch of events and we might have to do one
with the say crew soon enough bunch of
cross pollination in between communities so PIF
being infrastructure it's not always in front of the eyes of the user
nice activities with like application like with
teams that actually have users most of the time in front of them
like enables us to kind of
shine a light both ways so we've done with Wormhole
we've started today I think we've done with Monad last week
Wednesday so that's I would say
the big thing on the community side governance
keep trying to interest the people the
degenerate crypto into the Oracle world and what it means for the application
and I'm super excited about entropy and just super
excited about all the cool stuff that you guys are doing PIF has become
kind of a powerhouse on many ecosystems and we're very happy to have you guys
here at say so thank you Mark for that
so I think while we're kind of approaching the last 15 minutes of the spaces
I'm going to go ahead and bring up some of the community members to
kind of shoot their shot and ask
questions to the chat builders that we have here
I went ahead and brought up Dogwist to start and kind of while he asked
a question if he has any well I'll bring up some more so if you're listening
and you have any burning questions please feel free to request and I'll start bringing
people up go ahead Dogwist nice to see you sir
hey man not sure who's on the other side of the mic but nice to see you
as well how are you doing?
good it's Joe Sensei Joe here the residents faces hosts
I recognize the voice love it I love it sexy
it's very sexy I actually do have some questions
I came in a little late so I didn't really hear everything
explained so I'm sorry about that so I was just wondering
you were talking about DeFi utilities and your rev share
I don't know if you went deeper into that but I was hoping
if you could explain it to the audience and a simple Joe like myself
what DeFi utilities and rev share looks like
to one of your holders slash users
absolutely so the rev share
royalty share on secondary markets so basically you receive
1% or 2% of royalties income
depending on whether you hold the NFTs or whether you mint the NFT
so if you both mint it and hold
the NFT you get both S rev shares
and in terms of DeFi utilities we're still exploring
opportunities and in the future if you hold Yaka
Voyager NFT you might get access to our
Launchpad discounts as well so I think that's a cool feature
that we want our holders to know
and also it gets the DeX share as well
the DeX rev share as well so for example each trade that we made
will spare a percentage to
the holders pool and all the holders will share it
oh wow awesome no thank you very much and then my
next question was going to be for VDEX so
I've been a little late and I just heard a lot of like really big
words that again someone like myself just gets lost and
it's just like whoa this guy is smart
I was wondering like what the fuck is that delta neutral mechanism
and that's frankly like let me explain so
basically at VDEX we wanted you guys all traders to
expect it like LPs you don't want
volatilities let's face it you don't want like extreme volatilities
so you just want like fixed yield earnings
or like you know just like high shop
ratio like low volatility but high yield right so
what we're doing is basically we price the perp
differently slightly so that we get that the
price of the perp is not fixed
it's not 100% equal to sport price
and then so basically LPs can enjoy
high yield while getting completely almost
zero risk and then we got
like so let's talk numbers like LPs can
get whatever like 100% APR
let's just say and then we
that's another topic so basically what we mean by delta neutral
pricing mechanism is that LPs cannot be affected
by one side of overly large
orders of perp orders yeah that's it
like the perpetual orders such as longs
and shorts right yes sir yes
awesome thank you man I appreciate you guys
that was really it for me if I can think of something else I will definitely pop in
oh let me just add something more like we are
actually expecting like a new role here at VDEX
is the arbitrager which where you can earn up to 1%
of like risk free arbitrage free just 1%
of like the price movement so
basically it's a huge alpha dropped here
basically we are expecting some arbitragers who controls both
you know guys if you are arbitrager you can drop it
thank you dogwiz great questions as always
really appreciate you coming up here and starting off the AMA section
so I brought up a few more people too we'll kind of quickly go through them
let's start with flow and then we'll go to crypto boy how's it going flow
I think that was supposed to be a beaver I'm not sure but I don't necessarily
speak beaver but I'm here for it
Thomas aka crypto boy he's one of our bots
hey I'm GMGM everyone shout out to
all the teams that are building on say you guys are
the real agents and shout out to all the community members
for your support always I think my question
yaka will also answer one question and probably Dix
so in like a layman's team how would
this new thing you are deploying on say
help the ecosystem project this
randomness narrative like how is it going to help
the ecosystem project that are building on say
definitely so you can imagine that
so it's going to be outside of DeFi so anything
NFT for example when you mint NFT you know
you're going to be selecting like different backgrounds
different faces different goodies on your
on whatever sorry can you hear me
yeah he's answering your question I don't know if you can hear him
but I think the rest of the audience can hear him so we'll just let
kind of Mark answer maybe you can listen to the recording I guess
sorry about that I'm still thrown off from the beaver that came up but
let's say in three months you could imagine that all the NFTs getting minted
on say are going to be fully random
you don't have to trust the team that they won't
just keep all the rare NFTs for themselves
they will be able to provide the script of
you have one person chance to get to legendary NFT
the pay function randomness will
do this whole allocation calculation and
delivery on chain so imagine if you're into NFTs
okay you have one person chance to get to legendary
damn I heard my voice it's not sounding great
dude this this spaces has been like kind of chaotic with technical difficulties
no worries and another one would be for example I don't know if you're into gaming
or into kind of speculating but for example raffle
protocols now do weekly raffle where you can
like earn anything and to be able to pick in between
a thousand wattage or million wattage
without kind of trusting the team that they won't just give it to their family
you want to have this on chain randomness
it's as if you were playing your lottery and you could imagine
a super bowl or I don't know actually how they call this in the US
whereby like you just don't want to trust
the guy to actually do it so I think the randomness
is going to be able to remove this trust factor for
everything that's going to be like NFT generation on chain
gaming or gaming casino or
I think that's well said Mark and we have this model in crypto like don't
trust verify and I think with the implementation of entropy
this kind of reinforces that and removes almost
this kind of centralization aspect that still
exists even on chain so it's
very exciting and I don't know if you were able to hear that answer Thomas
but it was a pretty bullish response and you can kind of listen to it, listen to the recording
if you would like once we kind of wrap up the spaces but if you have another
question go ahead and we'll kind of get to it.
I don't know if Thomas arrived or not but
I do have, I can bring up one more person and then we'll kind of give some
time back to the teams to continue building, continue getting ready
for save v2 so just give me one moment.
recap to Thomas what Mark just
said. The beaver is back. This is like a cool
time spaces with the level of degeneracy you guys I'm trying to have a nice
professional conversation here with talented builders
but okay Alpha Lumos can you save this
degeneracy with a nice question?
Hello can you hear me? I didn't hear the question sorry
about that. The connection was really bad.
It's fine, do you have any questions for any
of the people up here on the panel?
I think on that note this might be a good
kind of point to give the team some time
to provide some closing statements and we can kind of wrap
up the remainder of the spaces so is there anything
you want to leave the audience with to think about or
some call to action to do as we kind of conclude the spaces. Let's go ahead to
All I wanted to say is stay tuned for our stage 2 campaign
during the testnet and also the mainnet launch as well and
what else? Sei is good. Yaka is good. That's it.
I love it. Good change. We like the anime
change. We like the builders. Very well said. VDEX do you have anything
to kind of leave the audience with as we conclude?
Yes if you want to earn money by trading
use VDEX and of course use Sei as Sei is
Love it. Love it. And then let's wrap it up with Mark.
Definitely. So go click on the PEF network Twitter
profile and look what happens. On the community side
we are doing a nice activity with wormhole this week
and if you're into governance, if you feel that you want to
contribute to the network, add also to our
stake in that PEF network you'll find the governance forum where
you can go vote in the elections.
Thank you Mark. Alright guys without further ado I appreciate everyone who
kind of came in and tuned in to listen to all the interesting conversations
we had and the interesting questions that we had. I hope everyone
has a really great weekend. Try to touch some graphs. Make sure to follow
all the chads up here. Even the guys that speak beaver
you know say and support say and so.
Without further ado we'll wrap this up and stay tuned for our next episode
which will happen at some point. Although this was a chaotic spaces
it was one of my favorites so thank you guys again and
take care. Have a good weekend everybody. Thank you so much for having me.
Thank you Joe. It's the corporate
degen spaces. Love it. Thanks Joe. Thank you for having us.
Thanks everyone. Thanks for having us. Thanks guys. Cheers.