Special Celer AMA with @Kwenta_io

Recorded: Feb. 8, 2024 Duration: 0:51:48

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Hello, everybody. Thanks for joining today's AMA. We'll be starting shortly. I think we'll give everyone maybe 30 seconds more
And we'll kick it off. All right
Hey, how you doing?
Yeah, I'm just I'm gonna go ahead and post this in the Quanta discord to let everybody know that we're starting
Thanks for having me today. Excellent. Okay. All right. I think we can start now then
By the way as a host, I'm Steve you I'm the head of BD at seller network
And by way of intro today we have mr. Burt rock
Who's the community and marketing lead at one of the top applications that are getting really hot called Quanta?
I'll let them provide more info on that
For many of our followers on seller just as a refresher
You're probably asking if you're new who we are. So sellers a blockchain interoperability
Platform or protocol we enable the bridging of tokens like your favorite ERC or a bet 20
tokens from one chain to another
Supporting about I think close to 50 different ecosystems now if L ones and L twos
So most popular, you know the ones that you typically come across optimism
Arbitrum to a number of your favorites
So then we are supporting about nearly 200 different applications with their token bridging
Whether it's pancake swaps or sin futures
There's a ton of applications a lot around defy particularly even Quinta
We also support general message passing. So a good use case would be something like
When pancake swap decides to expand from Binance to aetherium what they did was
You know, we supported them on token bridging of their cake asset
But also allow their users to open a position on aetherium and collect their yield token cake on Binance
So that's how some of the projects are using general message passing
And the latest project that we're very crazy about is the brevis
brevis dot network
It is a project that we're very closely associated with
that does
Zkproof as a coprocessor. So there's a lot of lot of UK use cases that many defy protocols can use but
But love to you know, welcome our today's guest
Burt rock so I got to learn about Burt and
With Qantas up to and I'll let Burt take it away
Yeah. Yeah. Thanks for having me again. It's a it's nice to see some familiar faces in here
So I'll try to I'll try to maybe you know, not give a not give a total sales pitch on Quanta
Which of course I'm very excited about
But but give you an overview of kind of what we're doing and what exciting things are coming today
Or in the in the next few weeks. So Quanta is a perpetual futures exchange
We are built on synthetics. They're an OG
DeFi protocol and they're kind of the liquidity layer
So we use their liquidity and we build interesting tools on top to help manage your margin and interact with their markets
So if you go to Quanta, you can you know use one kind of smart contract wallet to interact with any of
Synthetics is I believe 80 markets right now something around 80 markets
We have kind of the lowest fees of any
AMM, so you can go and trade for as little as
two basis points on some of the larger pairs
Get up to 50 X leverage on those pairs 25 X leverage on on some of the longer tail assets
and and yeah, we're right now we're
Looking to expand access to our v3, which is very exciting to us
So v2 was built purely on synthetics v2 which uses sUSD
Which is their native stable coin and one of the things we're really excited about with v3 is that you're able to use?
USDC which is much more liquid much more common stable coin that a lot of people have been requesting so
You can actually anybody who's in this call if you want access at the end of the call
I'll just I'll post the URL for you guys so that you can so that you can get that
But yeah, we do have that live on base in testing right now
Only a little bit of oi, but we would love to get more people in there to test it
And we're looking probably in the next a few weeks to roll that out
to kind of our main UI
It'll have native cross margin and a lot of things that you know
you see on these order book DEX's and centralized exchanges, but
people haven't really
managed to
Execute on on an AMM. So that's that's pretty exciting for us
And I of course am Burt rock as as you as you mentioned
I work at Quinta on the kind of marketing and growth side and just pitch in wherever I can
I'm not a coder, but I'll try to do everything else. So that's me
Thanks for that Burt Burt. I know that in DeFi in the web free space we
There's a number of different applications when people heard about DeFi there's like DEX's and you know
There's the usual the names like Uniswap, SushiSwap
Then it's lending protocols. So when someone comes
hearing for the word
synthetic perpetuals
Could you break this down for some of our new listeners what those are and how you guys are able to put them to use?
With a synthetic perpetual just means let's break this down into two two different definitions here
One is a synthetic and synthetic just means that this doesn't use the underlying asset. So when you go to
Quinta and you trade the link token or the Solana token
We don't actually need to have any link tokens or Solana tokens
In the LPs or anything like that and what this allows us to do is of course expand our offerings
So we only need an oracle in order to offer any asset whether that's a tradFi asset
We did have tradFi assets. Those were paused for a little bit and they'll be brought back into v3
Any coin on any chain and so it really gives you kind of a wide variety
and we just use oracles and this a clever system for
Balancing longs and shorts in order to have people provide liquidity for that trade
So that's what synthetics or synthetic means
And then perpetuals is actually a relatively new thing
A lot of you guys might be familiar of course because purpose taxes are are kind of all the rage right now
But if you're not familiar
It's this idea that was taken from tradFi
Futures are a great way for people to get leveraged. They're very very capital efficient and
Perpetuals are just this idea of
Having something that functions like a futures contract, but doesn't expire
So you can always trade it you can hold it forever and they typically use a funding rate to kind of balance out the positions
And make sure that you're in line with the underlying asset on the contract
So that's that's what a perpetual future is and the reason you might use this is of course
if you want to take a big leverage bet or
If you want to be very responsible and hedge since we have you know 80 different assets
There's a lot of different stuff that you can hedge on Quanta
If you if you have a position that's a staked or locked up or something else
Thanks so much for that context, I know
you know, that's one of the questions that we were getting and
yes, there are more petrels that I see coming into the market and
I'm glad that you guys have a really good start
One of the things that I come across
Working on web 3 is I get to speak about I think 10 to 20 different projects on a weekly basis
sometimes
You know more like the 20 and 30 depending on the condition of the market
But you know as an interoperability and infrastructure provider in this space
We've seen the demand for
projects requesting for token bridging and then
You know to to NFTs and general message passing and how they mix and match it is pretty remarkable
But I think that also comes down to the team members and oftentimes these team members are
Small in numbers. I would say small as in sometimes smaller than five team members
And then there's a lot, you know under 10 and then some other ones will go up to 40 and 50
And maybe really larger ones are in the several hundreds, but those are few. So
Could you tell us about your your your team?
Their background how you guys got together
And what motivated them to start this particular project?
Yeah, so that's a that's actually a kind of interesting story because our our team started as part of synthetics
Initially Quanta was going to be just a synthetics front-end
And this was back before synthetics had perpetuals at all synthetics was just spot assets
So if you wanted to go trade a synthetic version of aetherium or a synthetic version of BTC
you could go do that and they were just pegged to the to the spot price and Quanta was was kind of just the front-end for
What was being built on the back end?
And existed within the larger synthetics team
What ended up happening there is the synthetics team really wanted to focus more on integrations
And there are a lot of really cool things that have been built on synthetic since then we have Lyra options
Which we we worked with them for a period of time
dailies, which is which is a
Binary options and they do like sports betting and stuff like that
so the synthetics team really wanted to go in that direction where they were going to be a more general purpose liquidity layer and
That left Quanta with the opportunity to decide
how to really
You know offer something that traders
Were going to want to use and focus on not only the front-end but the overall user experience
Building these kinds of things on top and then even going out and looking for other integrations that weren't necessarily
synthetics integrations
in order to create the best trading experience and so this was I believe a couple years ago at this point
The team spun out with just a few of the a few of the original
Team members that had been working with synthetics and started hiring up and really going independent
And so I was actually I've been a big synthetics fanboy since then. I'm just a really big nerd with derivatives
I love that kind of stuff. So I had been following
all of these kind of related projects for a while and just really wanted to get involved and
Since then, you know, we've really seen Quanta turn into
its own monster, so
Today we're still really focused on our synthetics integration
We work very closely with the synthetics team and we provide a lot of mutual support
But we're really thinking about how to build our own products and own our own liquidity now
so we have a couple interesting proposals which just came up which are
Our Quanto perps
The Quanto perps are a really interesting thing because it's something not offered by synthetics and our smart contract guys
We have a
Smart contract team of about three guys. It's it's like a 12 person team
So we're relatively scrappy and these guys have really been
Just working night and day to figure out kind of how to design this new mechanism that has never existed before
In DeFi Quanto is actually to give you a little background on what this means
Quanto just means it's settled in a pair. It's settled in an asset. It's not part of the pair
So you might trade the ETH or the BTC USD pair
Let's say and it gets settled in Ethereum and you're depositing Ethereum as margin
now the the complex thing that happens here, of course is you have to track the exact value of
Of your P&L in Ethereum and the advantage is of course if it's a bull market or something like this
You want to be exposed to Ethereum? You don't have to settle this and then swap into Ethereum, right?
We'll do that for you
so that's kind of just an interesting example of like what the team has been working on and the directions that that we've been able
to go since we
Kind of became independent and started really focusing on
building a platform that's offering traders the tools that they need and really thinking about how to expand into
You know, not just a front end but kind of they're
Like a home base for everything DeFi that's trading related
And so yeah, it's been it's been really interesting to watch this this team grow and really come into their own
We have a very vibrant community too. If you hop into our discord in any one time there, you know
Dozens of people talking in our trading chat
Recently, there's been a very active food channel where everybody's posting pictures of food
So it's a really kind of varied community where we're kind of very open and that's why a lot of times, you know
It's it's difficult for me to even kind of define
Quinta as as a singular team because we do have core contributors
But there are all kinds of other people working in various capacities
we have people who have come in and worked on individual projects like
Our referral system was kind of built from the ground up from somebody who just kind of worked with us on this
So it's it's a very interesting organization. We've really tried to push
The limits of what it means to be a doubt and bring in as many people as possible to help build this project
That's pretty insightful info you're sharing their bird
And and personally like as someone who's been working on startups for I don't know close to two two decades now
Got I've seen quite a bit of of
Different team makeup and I was just wondering for your team at Quinta
what's been the most difficult challenge you think thus far just if I could expand on the last question related with the team because
Some teams that I've joined they like to innovate their way through almost it's it's almost like
You know one analogy that I could share with my friends
It's like if you and I were you know walking in a forest and there's a you know in this narrow path
There's this tree that fell and and you know one option would be a let's
Go back and get a chainsaw right or burn it through or whatever
But some teams that i've worked with they would either instead of going back would just
Some time to develop a tool like some sort of like a digital almost like chainsaw and saw it through and it go through
It right and and they just want to constantly innovate and and and just go forward
and and also even as seller, you know, we we
explored in a number of different projects to from scaling different L2s to
The gaming sector until we really hit it on the sea bridge interoperability and bridging side. So
I'm always curious to hear you know
You know what challenges so far and you know if there's any pivoting
Maybe momentum or direction that you guys foresee in the future as well
Yeah, I mean this is a you bring up a great point because what I kind of touched on at the end of the last answer is that
We've tried to push the limits of kind of decentralized decision making and this goes not only for our community
I'm trying to include the community in in proposals and really
Make sure we get everybody's opinion and everybody's input
But kind of within within our within the the core contributors and these working groups
you know, one of the upsides is that we have a very flat decision making process and
Anybody who's willing to kind of put in the effort?
Um and and show up is really taken very seriously in terms of in terms of their opinion and their
um, kind of
You know their contribution to the overall strategy
The difficulty of course in maintaining a flat strategy is that sometimes?
Uh, you end up with a with a situation where it can be very difficult to figure out
Um, what direction to take things in when people have a bunch of different ideas
so right now, uh, one of the things that we're kind of
discussing
Uh how we're going to move to new chains
So this has been a very easy process
In the past we've just kind of gone where synthetics goes because
We work very closely with their team and we we plan to keep doing this, right? Like we want to support
Uh new synthetics expansions
But we really have our site set on
Different ways to move to move to arbitrum. So we heard a proposal earlier today, uh, which was
Perennial which is a perps protocol on arbitrum, uh pitching us to integrate
Their product so that we can launch on arbitrum
And you know, I saw a couple of a couple of the people in this chat. I saw you guys there
So, uh, thanks for coming out to that. We love it when people participate in the governance calls
and you know, I think this this kind of illustrates why sometimes
a flat structure can be the most challenging thing because
everybody is heard but sometimes you end up with this kind of a
You know analysis paralysis or indecision where it can be difficult in a flat structure
To figure out who's able to make that kind of executive call and and who to listen to
So it is a challenge. Although i'll say it's been
Probably it probably for me like one of the most exciting parts about working for quanta is actually working with this
This kind of challenge of like how you include everybody in in a flat structure and how you deal with like leadership in a uh
in an organization where
There is no, you know, there's no ceo
I often I I joke around because uh, sometimes i'll apply to you know, go to events i'm going to eat stanberg
So if y'all are going to be there, uh, hit me up
I've been applying to events, uh, just saying i'm the founder right and and the joke about that is like there's not really a
a founder we don't have a ceo
um and people will just kind of put up with me deciding that i'm the founder in any one moment so that I can
Uh, you know
Fill out an application or whatever you need to do
So it's like a it's it's an interesting problem because there are reasons that people
Um kind of have these these kind of hierarchical roles
And the rest of the world is really structured for that kind of organizational structure
Um, but I think overall like dealing with those problems
Uh creates a huge benefit for us and that's that you know, somebody like me who didn't really have much experience
You know, I was kind of coming from
Being really interested in this stuff, but never had a formal role in an organization like this before
I could step in and uh, the culture is that people will take you seriously, right?
It really creates a lot of opportunity and and it creates this flexible organization. So
I think um overall it's challenging, but it's also kind of one of our key benefits
Yeah, thanks for sharing that I think uh, uh, many people in the web free space their background, um
sometimes do not really
I guess support what they're doing now, but um
Really permissionless anybody can be here and and as long as you contribute and there's some merit to that. I think they're wholly welcomed
Oh, yeah, and you know, that's one of the great things about the space. But um, what what I've found too is that
Like a lot of times you don't really know
What about your your past or your history is going to be applicable?
Um, just to give you a little rundown on on kind of my own
personal career history I I came from um
you know actually behind a behind a counter at like a
cannabis retailer, right and I uh, I worked in cannabis for a long time and
behind the counter at a retailer like you get tips and so
one of the things that I really developed a skill for is
Just kind of being personable with the customers and figuring out how to get the largest tip possible
Um previous to that I had done sales. I know you and I had kind of talked a little bit about this
I did door-to-door sales
Yeah, and and that kind of stuff like you don't think it's going to be incredibly applicable until
uh, you're in a situation where you're like wow, um, actually all I do all day is deal with people and
You can take all of these skills and apply them
So I think that's a great thing about web 3 is this opportunity brings in new perspectives that might have not been available. Otherwise
Certainly and thanks for sharing your personal um background on that
Um, just before we continue just like to remind that we are here talking with uh, burt rock, um, who leaves
Community and and marketing. I know that there isn't a formal title that because it's a pretty flat and horizontal organization
Let's just say burt words of any hats within his um close knit group of um team at um,
Quinta and i'm your host vp of business development at seller network steve u
Um, all right. Let's continue. Um burt
um, and of course, I love to need to ask this question because
Um, you know, we have a formal partnership
Quinta and seller
Um, you want to talk about it touch in a little bit on on why?
You know what you were thinking expanding and maybe I could fill in the some of the blanks on on what we've done
yeah, definitely, um, so
uh, this is kind of this is kind of interesting because the plan to
Move the quinta token to base is really how all of this uh comes about and this plan was purely like a
Community driven plan. This was something where a community member came to us and said
Um, you really want to have the token on base
um, just a way to
uh, I think it initially started as a way just to kind of
You know meme the meme the thing into existence over there and provide a little more exposure for our product
in in having this suggestion, right it's forced us to really take a view of
Of quinta as a multi-chain, uh platform and as a multi-chain token
And really uh kind of expands like i'm i'm actually going to be
uh presenting pretty soon probably some
some additional plans for how quinta
uh interacts in in like a multi-chain world and this all just started from this community member that
That just wanted to see the token on base, right?
And so that's kind of a a good example
I think of what we were talking about where
Um, anybody can just kind of walk in and have an idea and if people want to run with it, they will
and yeah seller uh
I'll let you talk a little bit about the uh kind of technical aspects of of how seller helped and what you guys did
But um seller was our uh was our partner in finding a solution there for how to get the quinta token
Uh to base so that we can start um kind of building out our our solution for quinta as a multi-chain token
Yeah, and just to add on to that is um, so as seller
Uh, we get pretty much requests every day from projects wanting to move
Uh their tokens from one chain to another or one equal system to another
Why because perhaps there's a larger community or liquidity that these projects want to tap into
and some projects, um, you know
whether they want to deploy
to expand their multi-chain strategy or provide a cohesion or a cohesive liquidity, um through
Uh general message passing there's many use cases how different DEX is or even lending protocols or different projects are using governance
um, so one example will be
Like, um, you know if there's a voting or governance protocol or voting happening on on on Binance
But your assets are all
Within ethereum then it will be very costly for you to migrate all those tokens and said aha i'm the holder of these
Um and then bridge it back and pay the expensive gas fee on ethereum
So rather as long as you have a metherium through general message passing we're able to deem that hey
You know, you're you're qualified to vote or things like that. So, um, but in particular this
Request that we got was, um, you know expanding from I think optimism to base
and it was a one of the
The most popular bridging solution is is um lock and mint or mint and burn
Or another term you'll probably hear in the space is a canonical
Where we basically lock up
the quanta token on the source chain
Once you connect your wallet and decide you want to bridge it over to base
It the transaction is over to base
Cryptographically we mint the equivalent amount of it on base and you'll be able to use that base
that token quanta on base
for various applications that quanta team is expanding on so
we we commonly see projects that are
aggressively
looking to expand their multi-chain strategy
um and tap into
uh other users as well and particularly their liquidity by expanding just like this and
Um, I jokingly say that you know, some project will say hey, we only need this bridge now
But uh two three months or five months down the road
They'll come back and request for three four five bridges to other ecosystems. So
I have to say it's been interesting on my side as a bridging operator in the web3 space. I see where the liquidity is flowing
um, I see a lot of the momentum and buzz around buzz around the base l2 that quanta's launched on so
I'm very interested in seeing how this thing unfolds
Now now, let me ask you this. Um, I'm diverging a little bit here. But um
Are have you uh, have you done much uh digging into into farcaster or warp cast yet?
I I just got on warp cast which is why I ask and the base community there is like
Extremely active. So just curious how much you plugged into the culture over there. Oh
Time to time. I mean we cover about 50 different ecosystems. Um, so but we know which ones have been have been I guess
Garnering a lot more attention. I think base is definitely one of them
Yeah, you know I you also mentioned um
kind of general general messaging, um, so this is something that's going to be very interesting to quanta because
Right now like what we're what we're announcing today
Is that the quanta token is bridgeable and we haven't yet announced a lot of the other things, uh, which are coming
And and these are going to go through our governance process. So one of the things that that will probably come first
That doesn't really have to go through as rigorous of a governance process
Is some kind of uh liquidity farming so that we can just have some liquidity for the quanta token on base
We just want it to be, you know visible and allow people to trade in and out of it
Um at will that's kind of the first step
Um, the the next step is of course figuring out
Um exactly how uh, the quanta token is going to be interacting with um
With governance, uh, and and then with staking on the other side and there are a couple different ways we can do this
So, um, we'll have we'll have a public proposal for all of this
So, uh, anybody who wants to know the details will we'll be able to kind of see how the public proposal goes down
Uh, and and what changes are made and listen to a presentation there from me
But um, yeah, i'm just curious like what ways have you seen other people?
Um use this uh, this
Cross-chain messaging that you're talking about. Um, what are some some interesting use cases maybe related to uh,
To governance or or like cross-chain staking or anything interesting that you can uh, you can tell me there
Yeah, there's a quite a bit for deXa. Particularly. We like we see, uh, one click swap basically
What that enables deXa to do is swap
Token a on chain x for token b on chain y with one click
We see cross-chain governance on deXa so that
um, as I mentioned earlier, you don't have to move all your assets
There's cross-chain reward claiming, uh, which pancake swap is doing
There's also cross-chain, um underwriting capacity aggregation by a team called solace
uh, there's also
Some marketplaces like for the nfts. I know that tofu nft
Uh, we're building with them cross-chain purchasing and bidding
um, and also
um start starfish finance is one of our partners that
We're supporting them on the cross-chain nft lending and borrowing
there's also
Mystical network, which is a web3 privacy base layer
They are utilizing our technology to support their cross-chain private transaction. So
There's you know, I get it's almost like you see the creative side how different projects use it. So
We get a quite a bit varied and some some some use cases, you know, i've never thought of
so yeah, yeah, that's a
That's really interesting. Um
Actually, that's that's like a really varied, uh set of use cases
um, and and so it looks like people are really figuring out ways to make cross-chain messaging kind of
You know kind of work in in even unexpected ways that I hadn't thought of
I think one of the things that came to mind that you mentioned was a cross-chain rewards claiming. So this is something that um
that probably we have a we have a huge interest in because
one of the things that quench is doing right now is
um a expanding to base so we're going to have
uh base is our our first place where
rewards are going to be collected that will actually be directed towards stakers and as of right now stakers are still
on optimism
so being able to
bridge rewards to optimism
Is going to be a kind of a central part of the infrastructure that we need to be building out right now. This is this is a
A handmade process right like the treasury is just taking over
Bridging by hand and taking all these rewards and putting them from base to optimism
but in the future, especially as we expand it to arbitrum and and other
Other chains like it's not really going to be practical to have people doing this by hand
so we'll need to uh, definitely come up with a solution for for cross-chain bridging and I think that's going to be
Uh, well bridging rewards specifically. So I think that's going to be one of our priorities
Um, yeah, that's that's interesting that people are uh are using that
Um using your technology to kind of uh solve that problem
Yeah. Yeah, and I think uh, bro, you're alluding to um, some of the things on the roadmap I believe right?
Of what you guys are thinking about. Oh, yeah
And certainly we would love to be there to support you on the general message passing on the reward side
Um, you know whether through the general message passing or through our zk co-processor
So, you know, we're always happy to support promising projects as an infrastructure provider. So
Awesome. Yeah
Is there anything else that you'd like to share with us on the on on what's on the roadmap to
For our listeners to expect or the things that you are anticipating?
Oh, definitely. Um, so i'm gonna preface this part of our conversation by saying, um, I
uh have absolutely no filter and will uh
definitely 100 weak things that are not
Uh not passed by governance not not official yet
So expect anything I say at this point like previously everything i've told you guys is is something that's kind of approved and it's happening
right now but um
Let me give you a little taste of what i'm thinking. Okay, because
This is going to be an ongoing discussion with the community and any community members that
Kind of want to weigh in on these plans
and uh and and decide the direction are really welcome to come in and and chat with us as we
Move these plans forward. So
Um, one of the things that i've been considering is the fact that it's actually very very difficult with our token right now
to have like a kind of
cross-chain
Staking system because we have a few complex mechanisms. Um, so the first complex mechanism
We have this escrow system
right and the escrow system means that
When you earn rewards, uh, they're kind of locked to one place as escrow entries, which are
Um represented as nfts and so dealing with with nfts, uh that can represent
You know any number of tokens locked for any amount of time?
Um across chains, it's much much more difficult than dealing with something that's fungible
um, and and then we also have
um, of course
this uh this staking system that's
directing inflation
Toward a single chain. So
inflation going to optimism is great unless you're trying to stake your token on uh
On base, right if we wanted to implement some kind of cross-chain staking
On base we would we would need to figure out this inflation problem
Otherwise you're disincentivizing people who are participating on this one network
So, um, one of the things that i've been thinking about, um, this is kind of a a wild shot in the dark
But one of the things that i've been thinking about is a wrapped version of of quanta
Um, that is a wrapped staking position that would turn it into a kind of fungible liquid staking
liquid staking
Under the hood one of the other things that would happen if we had this
fungible liquid staking strategy is that the
Would be wrapped into this this fungible liquid staking strategy. So in this case the uh,
the rewards would
go to a contract that's used to
Buy buy the quanta token buy back the quanta token and deposit it into the contract for this new wrapped strategy
creating a
kind of a buyback mechanism where whereby
The new wrapped version of the token is actually growing in value when denominated in in the quanta token
that's that's kind of my my strategy for
um that I would like to bring up to everybody for kind of handling this across chains and um
Creating this this one token that can really just go anywhere that you can hold on centralized exchanges and provide liquidity
without any of the
Issues that you come into with the token that has uh, like inflation and and where you need to claim rewards and stake
Because of course if you want to incentivize lps, right?
That's one of the big issues i've seen with other projects that have inflation or rewards that you claim
If you want to incentivize lps, you have to incentivize lps at the rate that's higher than they can get from your native staking
so if you wrap in the rewards from
Native staking into another token that's all self-contained
There's no downside for then taking this token and putting it in a separate lp position
So that's that's kind of an interesting thing on the table that that i've been thinking as far as what's going on with the quanta token
And this also creates a situation where we can now redenominate the quanta token
So a lot of uh, it's kind of a meme that people like cheaper tokens
right, i'm not sure it really uh matters to a lot of
People who are buying tokens, but um, i found it's actually kind of an interesting little problem because if you want to hand out
a quanta token for rewards
0.5 tokens is it's not too compelling, right? So it's uh
It's something that I think um, you know a lot of people
Uh a lot of people might like if we could if we could just hand out full units it it really uh solves that unit bias problem
So, uh, that's
That's just something I wanted to to float out because I thought it would be just an interesting thing for everybody
who's on this call to think about I know it's going to be kind of a
Tight-knit group here and a lot of our core community members are here
So wanting to float that idea to them as they listen and and kind of get that discussion started
It sounds um, you guys been thinking for something for a while
Um just by your response because that wasn't a simple
Uh kind of a thought practice
Um before we um, I don't know bird. Would you have a time for maybe one or two questions?
Oh, I I got all the time in the world. Okay. No problem. Okay before we continue. Um, i'm bird
What's the best way for someone listening today?
Uh to participate or experience or experience um quanta. What's the best way to learn about you guys?
Um, the absolute best way to to learn is to come into our discord because that is where I live
That's where um, I see some of our core contributors on this call
Uh, they they live in discord 92 hours a day and they're there to answer any question that you might have
So I I try to spend a lot of time answering questions
Um, and if you if you need any help we're there for you
Um, the other way of course that you can get involved is just by going to quanta.eth.limo or quanta.io
Those are both actually our official supported domains and the only difference is that one is
A decentralized domain and the other is is just a regular centralized domain
So you can go to either one quanta.eth.limo or quanta.io
And you can just poke around and and just see what kind of markets that we have
Um, that's probably I mean, I know we're all kind of uh, probably exploratory people we like to
To just go see what's out there with our hands
And so that's what I would recommend to everybody. Um, but if you do come into the discord
Um, you know, i'm happy to answer any questions
We have a bunch of posts in there that explain everything from exactly how our funding rate mechanism works
Um to kind of why certain assets are listed how
Parameters are set so we can get as as deep as you want
And then also we can just hang out and talk trading if you like
Um, we'll take any questions. So any listeners, um, if you'd like to ask
our guest bird or myself steve any questions, please raise your hand and
We'll get going and one one topic we typically like to avoid
Is asking about token prices? Um, obviously it's hard to speculate on that
But other than that anything about you know, um, the team the projects the integration that we're working on we'll be happy to answer them
Yeah, unfortunately, I wouldn't be able to answer any questions about token price because uh
We don't set the price of tokens
That's a that's always a funny question that I hear people ask because it's like, um, you know, everybody, uh
Everybody kind of has the same answer there. Um, the market sets prices
Yeah, yeah
well, um while we wait for a few more minutes for a
Question is there any a few last few words that you'd like to share with our listeners burn?
Yeah, I would uh, definitely you know what i'm going to do give me just give me just one second here. Um,
I need to uh find our
uh, i'm going to throw in the comments here, uh, the
URL for our v3 deploy this has been in testing for like a few
weeks now, um
So I want to warn everybody who might want to test this that we are talking about
Something that's that's still actively in testing. We would love if you try the v3 deploy
to actually
come in and um
And get in discord so that you can you know report bugs or whatever just get feedback on your experience
We would love to hear it all
But um, I am writing in the comments on this uh the space right now the link
To the v3 alpha deploy it is secret. You can't access this unless you have the secret link
Um, so this is just kind of an opportunity for anybody who came out
Uh and listened to me, uh rambling about all my little ideas
To uh actually get involved and and help this kind of early stage
product, um
And and we'll find some ways to in the in the future to get
People who helped us at this early stage to get them involved in
Um in things that you know provide additional opportunities for them. Um, we love people who give, you know detailed feedback
This platform is really, you know built by traders
um, I don't want to give the built by traders for traders line because uh
of its association with ftx, but that's that's really what what it is, right like, um
A lot of the core contributors at quanta are very active traders
Uh, they they love the experience of trading some of them do this almost as a as a full-time job
And we just love to get uh feedback directly from our users because those are really the people we're doing this for
so I am dropping the link in the
comments right now
Cool and burp I I think this is for our listeners that you guys have audit reports done
um, that's something that whenever seller looks at a
A potential partnership or integration. We like to ask
Um some questions related to due diligence, for example, um auto reports having
Them is a requirement for us to um integrate along with uh five or six other things that we like to ask
Um, and we you know
It's it's unfortunate. There's a lot of hacks going on still out
uh, but we feel as someone who's really deeply invested in this space that
Uh, we like to avoid them because we all take a hit when when somebody gets uh, you know, um,
You know, uh taking advantage of so, uh, we're there right with you guys
um, yeah, if there's any other questions, um, or any other comments, uh, we'll be happy to take them but um,
You know we've been it's been a great time for
uh me at least as a host, um learning a lot about quanta and
Some of the ideas that you guys have and we certainly would like to be there
supporting you guys along with the 200 other projects that we have and
You know, we've reached 18 billions in transaction volume supported
And we're still going strong and we're also seller sea bridge is also integrated behind
Metamask is bridging aggregation volume and I think at one point
We were making up about 80 of metamask is aggregation volume itself among the four bridges that are supported
so look out for many of the integrations for this year folks and
We'd love to
Get more integrations and support quanta in their general message passing
As well as their future deployment on on
Some of the things that I can't speak too much about right now
But um, thank you everybody
yeah, that's a that's great that you brought up audits too because um
Security is such such an important thing in this space
We've all seen, you know, what what happens when security goes wrong
And let's be frank
It's it's a kind of dangerous space overall just because even when people have absolute best practices. We're doing new things here, right?
And so one thing that you can be certain of is uh, quanta takes security very very seriously
um, so we
We have our audits posted on uh, github
You can go to the quanta github and you can look at our audit history
Um, the same thing with synthetics or or any partner that we have
um, we're gonna we're gonna have available for you information about their audits and then we also not just that but
You know just things like discord security and uh twitter security and all that kinds of stuff a lot of times you see
Projects not just having issues with kind of on-chain things, but the way they plug into the off-chain world as well
you know, it's
I agree with you there. It's all very important and we take all this stuff very seriously and and have uh had audits all the way up and
down of um
Everything from the smart contract level to to how we run our discord, right?
And uh, hopefully, you know, hopefully we can we can keep people safe like that
um, i'm the kind of guy who loves drama so I as much as I I love reading the uh
Reading the news of how a hack occurred. I don't like hearing that it occurred
Yeah, absolutely. Yeah, we're uh
We always have we're vigilant about that obviously we're dealing with other people's money all the time
I'm bridging and I jokingly tell my friends and family that um, I have a high-risk job because
I don't want folks like, you know for looking for me if our bridge were to go down, you know
And that's not a problem that I wish to have so that's the level of seriousness that
Uh, we take into protecting our assets as well as bridging them. Um, we're non-custodial, but yeah
so anyways, it's been fantastic, um, uh getting some time here with uh, birdrock and um
Next time I hope to speak to uh
You again about how we were able to support general message passing and how clint is growing
Um until then thank you very much everybody and um, any last words for you bird before we close out
Yeah, a couple last words, um, you know, I love to talk so i've heard I i've
Dropped a lot of like ideas and future plans here. Um, so anybody who's wondering, uh, you know
When you might be able to get information about um, liquidity farming on base or or any of these things that i've talked about
Um, go ahead and and follow me follow quenta on twitter
We're on farcaster and i'll cross post everything there and on lens two if you prefer kind of non
non-web two outlets
Um, but yeah, we'll we'll have a blog ready for kind of the roadmap for our cross chain deploy
Very very soon and we'll post that to the twitter and and all the other venues
You can follow it there and as these discussions get going and we start implementing
The next phases of this plan. Um, you can you can be involved in the discussion
So I would love to see everybody at the governance meetings. Uh, if you can't make those great
I would love to see everybody just follow the twitter so that they can get the updates directly from me
Awesome. Thank you so much for all that info and sharing your valuable insight with our listeners today
Thanks for everybody for joining our meeting
And have a great week and i'll hope to bring you more engaging conversations like this one. So take care everyone. Bye now
Thank you