Find funding for your crypto project! Apply for a grant!
Special Celer AMA w/ @CantoPublic
Recorded: May 16, 2023
[ Background noise ]
All right, everyone. Good morning.
Good afternoon and good evening. Let's get this show on the road. Today we have another session of Stella's AMA and our guest for today is Sun, who's a contributor for Kanto. Hi, Sun.
Isan, can you hear me?
Okay, Sun seems to be having some technical difficulties at the moment. Let's just give him a while.
Alright, alright. Okay, finally it's working. Okay. Sorry. Fantastic. There we are. Yeah, thank you for joining me. I'm very excited to be here.
Pretty early supporters of canto so yeah, happy to be here. Thank you Okay, maybe you could share with us something about yourself. Yeah, before we get started for sure for sure so I've been in crypto for around 10 years
I've done a variety of different things for all types of different roles. But yeah, I mean, cantoes pretty much my most recent kind of where I'm spending most of my time contributing to.
I'm interested in as a side hobby I guess is I like to collect art I collect one of one of T's I have a pretty big I collect anime one of ones on the side but yeah that's just a few things about me
10 years in the space that's pretty long time. I know it's too long time. He feels like dog years sometime. Yeah. Okay. So could you tell us a bit more about Kanto and how it works? Yeah.
for sure. So yeah, for those that don't know, you know, a canto is an experimental chain at under the hood. It's a layer one. It's a cosmos chain with EVM.
But what makes it different is that unlike most layer ones that focus, if you see layer ones today they have like, oh we have this technology, we have that technology to make them different. At the moment,
What makes like can't those principles are not really about technology. It's really about at least today It's really about like aligning socio economic or like sorry aligning economics right socio economics with the protocol at the grief for
And what does that mean? Right? Is that we have this idea called you guys check out the blogs called F.P.I. or what we call free public infrastructure. And for Kanto, that means that, you know, if you look at cities, right?
City like some of the most like the most developed cities in the world of the state New York would not really exist without subway system water electricity Good like let's say traffic symbols right stuff
like that is what and and these are like owned by the city right they're like public goods that anyone can use pretty much for free but the quality of them kind of outline like supports how I guess how resilient a city is right
and we're going to be able to see how successful the city is. So if we take analogs to that for Kanto, we also believe that every blockchain should have public goods. And in the context of blockchains, if we think of blockchains as cities, that means that for us, we think like
you know, primitives like, you know, lending, decks, stable, these are like pretty much, you know, the base primitives for DeFi today. And we felt that, you know, if we look, think of
Locked in the cities that like the DAX, stablecoin and lending should be pretty much public goods or free public infrastructure. So what that means is that there's no fees when you use them and they're incentivized by, you know, the native layer one coin, right? So in that, in that
That means that if you see our like you know the network today if you provide liquidity or if you lend they're all incentivized by canto right it's not like a government up like Arbiteria governance coin for each primitive. It's all free public infrastructure is free to use it and since
incentivized by one coin, a canto, which are people for people who own canto basically pretty much govern all the public goods that are deployed onto it. So there's a very clear, cruel value and clear idea of how to govern these primitives.
It is interesting because I remember when the chain first launch NFTs pretty much blew up on canto. Yeah. And everybody was like getting into NFTs and canto and things were moving pretty fast back then when I was looking at it.
What motivated you guys to actually start this project? Yeah, I mean I Think pretty much ideas of I would say that You know, Scott has probably more thoughts around and there's like at least around when we launched they're like 35 contributors
35 to 40. But I think some themes around that and everyone has their own kind of reasons why you know why can't totally succeed. And I think that's actually why really happy is because we have a pretty diverse contributor set.
But I think pretty much being tired of like, you know, people always thinking of, "Hey, you know, we, there's always this idea of like, how can we extract fees?" You know, at different stages of, let's say,
protocol development or even layer one development, people have built an inserted like fees at different phases. And this is also kind of the reason why which like as the cosmos is to came to strosen right is that and I think there's also a reason
personally why Cosmos is going to succeed over the years is that you know it's all free to use it's open source. Many people have contributed over the years from different backgrounds right different walks of life and it's also the most refined but the most important thing is it's pretty much
open source, right? Anyone can use it and that's what actually makes it better. We also believe in this idea of like allow free markets to do their thing and then you allow for better outcome to exist and I think that's really like some of the
by and can't so is just this idea of that like if you have public goods, if you allow collaborative, you know, kind of building, right, or building in public, you'll actually build a better kind of outcome in the long term, right, a better
product. And the example of that is that, you know, I know you guys might have heard of like, there's like a module that we built, right, a mechanism, which was pretty much new and novel to canterate, which was the idea of CSR, which was like, much
gas rebates, but tokenized gas rebates. So the rebate is essential. To tokenized, it can be what that means is that this gas rebate, right, that developers get from deploying projects or protocols on-camp, so they get rebates based on how much gas
But the receivable is essentially tokenized. That's the idea that was pretty novel. And now some of the contributors that basically were inventors of CSR and Kanto, like Zach and Scott actually are doing EIP and Ethereum.
I'm called the AP6969, which is pretty much like a meme. But yeah, there's discussions here within the theory community to see if this could help like, you know, find public goods within like, let's say, layer two's, right? So yeah, so this idea of like collaborative
Right, and contributing open source and working the public is kind of the premise and motivation by Kanto. Nice. So you guys pretty much came onto the stage. I think with a big
bank so to speak. So how do you see yourselves differing from the other Leo once out there? Yeah, I mean this is a good question and I think it really actually stems down to what you said first which was when you came on cantoes
the first thing you noticed was this interesting NFT kind of hype cycle happening. There's a lot of activity happening. If you think about it in your past, when you look at new layer ones, how many layers
when you go to them in the beginning, right, when they first launch, usually have like a pretty high, like a pretty like happening NFTC. It pretty much never happens, right? But for us, you know, with the canto, like the first
from day one and in fact probably some of the reason why the hype happened was from the NFT side. And so the reason why I'm saying that is that the reason why I mention it is because if we try and I said this earlier too, it's like, you know, there's different stages
is multiple ways to develop protocols and ideas that the Kanto community grows, there will be people that will contribute to all types of facets to improving even technology. But for us is that if you see today, right, like Kanto
You know, it's no VCs. It was fair launch, pretty much no VCs. And the idea is like, how can you compete against other layer ones, right, in a world where there's so many? And the answer is, is that really,
It's not on throwing money at your problems because if can't, though tries to do that, they will lose because you know, we don't have VC money. We don't have like equal like massive ecosystem funds. We cannot like if can't donate to succeed. It has to succeed in a unique way and the answer question is pretty much is that we are trying to build culture.
right, make like having like when you bridge to canto when you participate in canto, when you buy NFTs on canto, we want you to have fun, we want you to experiment can be weird and just build culture, you know, and I think that over to
It's not something that is obvious in the beginning, but if you see Ethereum today, obviously everyone will say Ethereum is for a smoother, but still, there's people who never leave Ethereum. There's so much collaboration that happens. There's so much innovation. There's people who will never leave Ethereum. They don't go to other chains.
Yep, and it's really because there's like a really strong culture right in in Ethereum and I think if can't told it's just to succeed cannot succeed by just throwing money at its problems it has to build culture and I think that's why you probably saw this massive like NFT wave right for an early
chain in the early days and that's really because we're trying to innovate on like creativity being weird and essentially culture right because over time and you as it's money can come but like culture is not built overnight right it takes time to develop and yeah as it gets built you can essentially build them out
I agree with that. Culture is definitely something that has to be earned. It's not something that you can buy. The NFT approach was very interesting because it gave a lot of exposure to a chain that most people were in passing
not really have taken notice of in my opinion, which is why I found it very fascinating. So it seems like culture is one of the key things that you guys are looking at in terms of building exposure, building more usage of the chain. What other things we have in plan for Kanto's
development going forward. Yeah, I think Scott had mentioned a few things. If you guys check his thread, is that there is, if you see our NFT, we talk about how NFTs are pretty important to people can't do, but the current, the current
And marketplace is pretty buggy. So that's something I see a lot of people mentioned. Oh, yeah. But yeah, we have like, we have a new NFT marketplace coming up.
very soon. I think around two weeks or week and a half. So we have that. And then the next thing that we have is we have liquid staking coming. Well, there's two different teams working on it. There's an out like there's a
like a few core development teams for Kanto. But we have someone that's more third party building it out called S-Kanto. I'm not sure I haven't looked at the design but this is coming from the community which is really cool. And then we have
One coming from a core contributor to be harvest and this design is completely novel. It has insurance and has free markets. It has a system that allows validators to go in and out of the set. You know, if you look at a lot of liquids taking today is that
There's a trusted there's a trusted validator set and it's not really distributed But like we've thought about all these economics and The idea is that you know, it's gonna be a module on cosmos and it's gonna be free remember this is liquid staking that will be Available at the protocol level so it will be pretty much
owned by the protocol, 3D use. So it generalizes the MEV. So this will be coming out, I would say probably in the next like month and a half, right? So they tune for that would be pretty cool. I don't know, again, these are just rough estimates and you know, there's multiple
multiple contributors involved. I mean, these are going live. I know we had seller go live. I would say expect to see potentially some kind of canto. Basically, a seller integration was like
So people eventually pretend like the ideas that eventually this can enable other protocols and other chains or let's say BNB, you know, polygon, optimism, what have you to be able to like, you know, protocols that can incentivize can't help rules, right?
can't on a call token they can incentivize it. So the beauty of having solar bridge live with native canto is that it enables that. So I would say if things goes the plan, you know, now it's possible. So I would say maybe we can expect to see pools like that. So there's a lot of things cooking and under the hood I think
people would always be quick to say, oh this is a fork of this, right? But I think people will be pleasantly surprised to see different things coming out over the summer. And also, I think the last thing is that like at least the top of my head, there's people working on so many different things, but
is identity protocol. This is something as well. And I would say by the way, if you want to always hear about stuff and mechanisms being built, definitely follow Scott Lewis is the idea of like that. So basically is the identity protocol that is a testnet live right now. So like we have our
own approach to test like identity, which includes it's like just general identity, PFPs, BIOS and even NFTs. Like we have wrapping it all into one like identity solution. Yeah, sounds interesting. Sounds very similar to DIDs, for some extent.
Yeah, that's correct. I mentioned a lot about community contributing to the development of Kanto. If somebody in the audience wants to find out more or find out how they can further contribute to Kanto's development, how can they do so?
Yeah, so I think to start is that we have monthly hackathons every month right online we get around 10 projects a month at the
moment. I always say that like, you know, we don't really have like grants or anything at the moment, but from a hackathon perspective, I mean, the only kind of
like funds that go out or from the community fund is that every month there's a hackathon you can get win up to three like the grand prize winner can get up to 100,000 canto which is at today's price around like 24k. It's a pretty
It's a pretty sizable amount, right? For like three weeks of work, right? I think it's pretty fair amount. If anything, that's like the size of that, you know? And we've gotten a lot of projects over the last eight months through this.
We have our own native block explorer, there's a dev working on that. We have RPCs built, we have all kinds of cool things built over the last year through the hackathon.
kind of people from the community, right, building stuff, native, canto product. So I would say the answer question, check out the hackathon we have it every month and we have, we always have pretty cool judges from the space participating. So I would definitely suggest that.
Nice. So the other thing that
we will probably want to touch on is like in terms of security, how does scandal approach the security of the shame?
Yeah, I mean, in terms of security, you know, a lot of the protocols that we've went to market with, right, for cantoes, like a compound fork, have most code base and like we've used, like,
the taxes is zero fee deck. So it's all code that's existed for quite some time and it's been audited by the respective teams and also, any changes we did, we also audited ourselves on code like Coderina and that's all available in our docs. But yeah, I mean to answer your question,
is that it's not this idea of move fast break things, which is very common in startups. It's really about moving slowly and not breaking things and focusing on security. I mean, at the moment, there's like 100 million to be out.
Right, and it's just the idea of like, you know, there's people's funds that laws like at risk and you know, we are using experimental technology and it's just like While people always like to move fast and crypto, you know, I think the canto approach is especially now it's not like day one right Genesis
This is one thing even now is that we've been around for a while now. There's a decent amount of money on funds locked on the protocol. Not locked, but they're being put in use on the protocol. Having security first approach, understanding
what exists making sure is it needed like you know even the canto lending protocol is not switched on right now right so if you guys know it's available but it's not switched on and the idea is it's just like you know moving again slowly and making sure that
You know, is this needed at right like at like at the current moment? Having a more cautious approach. This is kind of what I'm seeing kind of be a popular theme within the canto community. Nice. So with regards to canto's partnership with Sela.
How do you guys approach the partnership? What sort of things are you looking from with the partnership with Celer? Yeah, definitely.
Yeah, I mean with with seller I think I think the idea is that as it hits it earlier is that you know there are protocols that are going live my understanding and you know respective like layer ones or out to
outside of canto, right? And they had, they, there is interest for them to incentivize canto pools in whatever fashion depends on whatever their protocol is, right? But there are, there's like some demand outside of canto for canto to exist. So people can buy it.
whether it's like some type of AMM pool on some respective chain, there are protocols that want to incentivize cantopools. So with seller, I think, if this can provide a way,
you know for this to exist right for canto polls essentially to exist outside of canto right through native canto um i think that's why i i i could see potential like synergies between the canto you know network and seller right is enabling this um and i'll just to be clear guys right is that
This is native canto red so it's just one of one. There's no mm pool or anything like that. You just lock canto with seller from canto side and then you have you have you have that one canto or whatever x amount of canto you locked on the destination.
network, right? There's no AMM, no slippage. Is my understanding? >> Yeah. >> Maybe let's take some questions from the floor. There's one guy who's been requesting for a long time now.
Hi, Blaze. Can you speak?
I bless you can speak now. Do you have a question for Sun?
Yes, I have a question. Hello, hi. Hello. Yeah, yeah, we can hear you. All right. Thank you very much. I think as I've been listening to
your AMA is pretty cool and it's very lovely. My question is about the center public. What are the installation? The IU guys are creating this lovely ton of ecosystem. What is the installation behind you guys and what is the main
focus of your project please can you explain to the community please yeah really good question thank you for that I think you know what can't help once I think everyone has their own different opinions I think this is that the
What makes Kanto so unique is it has contributors, you know, as I said earlier, 35 to 40 contributors contributed to like the main net launch of Kanto and they come from like different backgrounds and they have different obviously motivations. But I think the general premise that we can all agree on is that we believe that like,
If you think of blockchains as social things, it's not just technology. There's a social layer to blockchains. There's community, there's culture. There's many things that decide what blockchain is successful and what blockchain is not.
For cantoes of like cantoes approach to this understanding this is that you know, like canto believes that and I did say this earlier is that canto like a blockchains are like cities and Cities have public goods right and in normal public goods in traditional cities are like wall
electricity, let's say roads, infrastructure that anyone can use, free to use, it's owned by the city and people pay talks for the city, it's a public social, not so good, it's public good. And Kanto believes, I think the premise of Kanto is that blockchains are living
beings, right? They are cities, people use them every day, right? And we believe that, like, their free public infrastructure should exist, just like they exist in cities, right? Public goods. And the idea for Kanto is like, instead of thinking of
blockchain's, as just technology, creating, what if we can, like, what if we can enshrine, you know, like the decks, right, the lending, a stable coin, or we don't actually call it a stable coin, we call it a unit of account, because it's not technically stable coin, there's more about that in the docs.
And making them free to use right so like If you if you go to canto today, right there's a canto decks And there's a few assets on there's like eith, atom, USDC, USTT and obviously canto but the decks is free. There's no swap fee so you can
use it, there's $115 million of TBL I believe on it at today and you can just swap into it, right? And what that means is that other protocols that pretty much deploy onto Kanto as Kanto grows can leverage,
Composibility they can plug in and use this like pretty much like publicly liquidity pool right that's incentivized by can't tell right not a government like not let random You know arbitrary coin. It's all these primitives the free public or public goods like the decks and lending protocol and civil coin are incentivized by
one pretty much network token which is can't tell so just 100% experiment blaze but the idea is that what if we can you know pretty much put the roadmap of public goods and align it with the blockchain essentially hopefully that makes sense
Thanks for that answer. Is there anybody else who has a question for Sun?
Please raise your hand and bring up on stage.
Anyone who has a question?
Don't feel shy.
Okay, I think there are no further questions from the floor, son. If that's the case, I think we can call it officially and then. Thank you so much for joining us tonight.
Yeah, absolutely. Thank you for having me. And thank you so much for sharing about Kanto and sharing all the information of what's coming up and what to expect and how people can participate. I think in what you guys are doing is very different. The approach taken is you need
to get into. And I'm looking forward to see what else you guys pull out of the hat as time goes on. Yeah, I'm excited to. We'll see where it goes and I would say we have a lot of documents on
We have a lot of good documentation, so check out our mirror on Cantal Public. You can find the mirror, check out the discord. But yeah, stay tuned. There's a question from Cantal, Africa. Can you raise your hand and request please?
Just raise your up.
Hello, ladies, can you hear us? Hello, can you?
I think I have some questions to ask again before you guys round up. I also have something to ask today.
community. Considering that the fact that a community collaborator I work with crypto updates. So I'm trying to true a kind of a proposal to your team. I don't know if you can
You can definitely send me DM. I hope you always understand. I will send a DM which my account is on your Twitter account. I will send you a DM.
Thank you. Thank you. I would like to ask, please, these are AMA you guys posted. This current AMA is there any, let's say, anything of a, let's do anything you plan to give to the community or let's say,
a drop or a reward for the participant of the Amy so I would love to know if there is any. No there's no a drop for the Amy. Alright alright because I just want to clarify something. I think I will. Yep no worries.
Thank you very much. Thank you thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you#
Alright, and I guess that's pretty much it for tonight. Thanks again, son, for joining us and thank you for sharing your knowledge and information about the canto. If anyone here wants to get connected with the canto blockchain, what's the best way for them to do so?
Yeah, I mean, I think that definitely just follow me, follow Scott Lewis, follow, there's a lot of contributors. You know, there's a contributor here as well in the same. You can follow him. He's helped out a lot also. I would say follow Kanto.
public, follow discord, and there's a lot of like pretty active contributor managed forums. So I'll start there for sure. I mean, if everyone, anyone ever has questions, you know, they can message me as well. All right, cool. Thanks everyone for joining us.
This is another episode of Celia Emi and today we had Sun from Kento and I'll catch you guys again on the next Celia Emi with another guest in future. Thank you for joining us. Good morning, good afternoon and good evening. I'll see you again soon. Thank you.
FAQ on Special Celer AMA w/ @CantoPublic | Twitter Space Recording
Who is the guest for this episode of Stella's AMA?
Sun, who is a contributor for Kanto.
What is Kanto?
Kanto is an experimental layer one Cosmos chain with EVM that focuses on aligning socio-economic with the protocol at the governance level.
What does F.P.I. stand for in the context of Kanto?
F.P.I. stands for Free Public Infrastructure and represents the public goods, incentivized by the layer one coin, that anyone can use for free on Kanto.
What are some examples of the public goods on Kanto?
Primitives like lending, DEX, and stablecoin are considered public goods on Kanto.
What motivated the team to start Kanto?
The team was tired of the idea of extracting fees at different stages of protocol development and wanted to create collaborative building in public.
What is CSR and how is it being used outside of Kanto?
CSR is a mechanism for gas rebates that was tokenized on Kanto. The inventors of CSR on Kanto are now doing EIP on Ethereum to see if it can be used to fund public goods within layer twos.
What is unique about the hype cycle surrounding NFTs on Kanto?
Kanto was unique because it had a happening NFT hype cycle from day one, which is rare for newly launched layer ones.
How does Kanto differ from other layer ones out there?
Kanto differs from other layer ones because it focuses on aligning socio-economics with the governance level and has free public infrastructure that anyone can use for free, incentivized by one coin.
What is Sun's background in the crypto space?
Sun has been in the crypto space for around 10 years and has worked in various roles.
What is Sun's side hobby?
Sun likes to collect art, specifically one-of-one's and anime one-of-ones.