Hi everyone, happy Friday. We will start AMA shortly in a few minutes. We'll let other participants and listeners join in, so we'll start in a few minutes. Thank you.
We'll get just one more minute for others to join. Thanks.
All right, I think we can start. By way of introduction guys, I'm happy for right again. My name is Steve you on the head of BDM partnerships here as Cellar Network. So a little bit background about Cellar Network. We've been around the space since 2018.
where at the moment Southern Network is an interoperably platform where we're supporting more than 36 chains at the moment. We have surpassed over a 11 billion in transaction volume where I should stay very close to. We'll probably hit that in a couple of days or a few days.
And we obviously support bridging for fungible assets like ERC 20 tokens to NFTs to general message passing. So welcome everybody to today's AMA. There's a special one today with a very interesting project called Thales. So I'd love to introduce you to
Pavelov, who is the head of strategy there. So yeah, welcome to the AMA. Thank you very much. And first of all, just a quick mic check and is everything in order? Yes, I hear you loud and clear. Nice. So thank you. My name is Pavelet.
I'm a strategy lead over tailies. So basically it's a bit of a Swiss army knife roll. Basically I am in charge of logistics brainstorming new products on top of tailies, grow strategies and bit of big
and product managing and stuff like that. And yeah, I'm happy to be here and maybe I will start off with a bit of a background of like, Achilles. Absolutely, that would be great. Sure, and so yeah, tailing
was developed last year in early 2021 and basically the synthetics network I think all of you know synthetics decided to support branching out a couple of spin-off projects such as Lake
which is vanilla options, Aileen, which is like a fun ratings type of project and Quenta, just like a front-end for the centralized change engine and then there is tailies which is basically a protocol that is built on top of the
The syntax tactics attempt to develop a binary options platform on top of the syntax protocol. And Thales was born out of the syntax community. And it basically took the syntax binary options contract and started building on top of it, redesigning it.
creating a much better and optimized mechanism to develop a first working, sustainable and scalable platform for binary options trading on chain. And basically, tail-width deep just that.
the new mechanism where you can like mint both sides of a certain binary market by using s, u, s, d, autosynthetics as a collateral. And that's how that's how tail is was born. And initially there were some issues
on how to market make these markets and then we had like order book based market making on L1 Ethereum and it was suboptimal for user experience in cell one was so expensive and order book trading is not something the defa user is experiencing.