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SwissBorg genesis English
Recorded: Feb. 2, 2024 Duration: 1:01:09Space Recording
Full Transcription
many thanks for those making it i'm very excited to be the guys today
as you guys know we will be covering i think so the special twitter space on the genesis
on a bit the fiasco that happened yesterday trying to really enable anyone that's in this
room to speak up to enable any person to give good feedback bad feedback whatever you guys have
in mind this is only for you guys it's because we care because we make mistakes because we learn
from these mistakes and hopefully we get to our original cause which is to have the best web3
community around the world and being trying to really empower all of you guys i'm sure many
here are genesis uh in this call maybe just as a quick just to check this can you just give a heart
or something if you're a genesis person i like that i could see how many genesis is in there
many hearts here
um cool when i see a request from someone alexander follows you yes of course
um yeah there are definitely a lot of people here oh yeah we're not old probably at the same time
is that it um how can i uh start this in the best way possible um okay is that person and
yes it is so i'm going to go right away um i think i think that um if you go back to the
you know the the the start of swiss borg um we only were successful thanks to you guys
for people that participated in ico people that believed in us in 2018 and 2019 when
our token lost 99 of the value uh that people really started engaging with the swiss borg
community app uh which was a lot of fun um definitely another promise we didn't get there
but uh i think so uh we did at least what we thought was the fairest um and then of course
2020 when it was one of the most best performing token the border chsb itself 2021 during the bull
run and uh and people that stuck with us in 2022 and especially last year the series a 2023
where we did another world record uh thanks to you guys being able to bring uh yeah our users to
the core hearts of of uh swiss borg being uh yeah a series a not giving to vcs
but really giving to all our community members and i'm sure many of you have participated
and to series a um if i do understand
well i always said swiss borg the best thing we have is our community uh and and yesterday
it really shows again that that's very true uh because in the love and the hate it's always
something that is the the curses is very close between the you know the love and the hate if you
someone hates you is probably because there's still love is misplaced somewhere or someone
fucked up and um and did we fuck up yesterday i mean for sure uh we did uh and and i think
there's no fingers to point on swiss borg in general i think so we all did uh we should have
had done this in a better way i think so i don't know if you agree or not but from the chsb strategy
of of not providing the yield anymore i think so our our communication was a bit better i know the
frustration was probably as big but the communication for me was at least better we prepared this in a
better way there was an ama and a presentation and and it's definitely people were unhappy about
it but but i think so still we did a little bit better uh case out of it um now regarding um
the genesis and and and if your frustration is what i understood is twofold uh the first is
the lack of governance uh for swiss borgers in general to be able to maybe you know be more
present in decision making or at least being able to to to bring something better at the table and
the second i would say is the fact that many people got into the genesis uh because we
said that was going to be the best premium and um i think for the second fold you know
we're always going to remind ourselves the genesis there's no doubt about that um
we always will make sure that the genesis you know are people that have backed us for a long time
um but you can't rely on just the status and say okay i'll i'll be the best and get the best
service for for all my life without doing anything i'm not saying anyone is not doing
and i'm not saying everyone is not doing anything but we really have to move from this model
this will never work i've been pushing bitcoin for now nine years ethereum for eight years
and just now a year as solana and no one has never gave me any bitcoins or an ether any solana i just
saw the value of this in terms of investments saw the value of the technological part the
philosophical parts and if i'm not mistaken i think so everyone here in this call it came
for swiss borg for that same reason it's uh yeah of course you want to invest and you want to make
some money but you adhere to the culture the the philosophy to the financial freedom and how we
are a very strong community especially in europe but hopefully this could grow going forward and
and um i do understand that you know there's promises and all that and and maybe there is
miscommunication on the fact that people thought that we will always give everything just to to
genesis but that's the wrong mentality what you really have to believe in is how we get to be
better at everything and and if you get to finish the you know the video game right three years ago
then there's nothing else to be done well then we're never going to improve the community right
we're just going to have that possibility of having people that yeah are entitled to some
level and will not probably create the best opportunities for themselves
and for the community and that's very important you know what we want to put in place for example
for the hero score is and in essentially how do we get to essentially get you to become better
and wealthier by doing the right practice was it well done no i think so it was a bit complicated
and it was especially more importantly it was not done in the app so it was very difficult
but it's still the right thing to do it's how do you guys get to bring more value
to yourselves and to the community and i think so that new version of the hero which is essentially
going to be just how much more token this will still create a competition between you guys and
myself of course in order to get more practice right to get more better experience and i think
so this is something's very important because if you just rely on some basis well then no one else
is going to come into the competition and if there's no competition how are we going to become
better and better never that's we're just going to rely on what we already have
which is for some people but put 50 000 but 50 000 board tokens and many of you have bought
at least or locked 5 000 board tokens which you know could be substantial money for some or
could be a very small amount for others so that's that's for me is something that
that's very important and of course you know the pegasus and all that these things are ads on
based on your your premium but these ads ons are very very much important for us to attract
more people and to grow essentially this ecosystem there's only this way that we'll be sustainable
we'll able to grow and we'll be able to attract more people right if not if there's no competition
well then why are you going to try to get into to swiss port right it's like i'll always be
part of the last ones and and and and therefore and i don't i don't want to get into this
ecosystem that i won't win right the the the second part which goes to the same as i wanted to say is
how do we go from now what we have and we we move on into this way that we could really empower
not only you through the app and how you get to get better deals and and these alpha volts and and
and many other opportunities that we're going to bring but how do we let you guys figure out how
what swiss bork should be doing not into the app but how you should be co-building essentially
right i didn't that he never pitched me aetherium you know we thought it was going to make sense to
build our token on that to big to build whatsoever nicola never met uh anna toli from solana or the
team from solana or got any support from them he just saw superior technique technology he
thought that this made a lot of sense so he was like you know let's spend a lot of times do some
hackathon see this this technology works more than that let's now try to figure out if there's
something that could be done with our main technology piece which is the smart engine
and this is how the mix was built and no one has again gave us any grants or anything or whatsoever
you know he did it because he believed in it of course you know now we're all happy that a lot
of people that bought solana at a small price and we're doing so many different things with so many
different projects such as pith and and orca and all the descent size exchanges and and gito and
whatsoever but we got to build in it and and i think so this is exactly what's missing at swiss bork
some people are already doing it i'm not saying that but how we go from uh us empowering you guys
that goes to you that empowers the entire ecosystem and that that for me is what is
missing is how we get out governance that's done through swiss bork association i know that
you know uh uh julian crypto phil and other people have always you know engaged into that
but this is where i believe this is going to be much bigger and and how we're going to grow in
a better way uh to get back to julian us there you know you all know him many of you have came thanks
to him the relationship we had together with julian i'm not saying it's great but you know we never
had a contractual relationship saying oh well this and that he just saw a lot of love of course had
uh uh been participating since daycio day so he understood us well he knew the vision but he
starts saying okay let's let's move on right claire and many other people cg when i get all your t-shirts
you know all of these small contributions create this greater network effect and and and i think
that is where i think we really have to evolve we have to evolve in this way where the dao or the
swiss borg association has a bigger bigger part of what we do and could build on top of swiss borg
right we started with swiss bordination which was great but it was a wrong angle which was how we
built you guys decide to what we build and then we build it that usually never works because if i go
to the product team tomorrow and i say okay we figure out everything let's just push all these
ideas first of all it's always hard for them to realize if it makes sense in terms of business
technical outlook how how long is it to develop but what if we do the other side and say like okay
someone wants to build something with the swiss bord community and we just do it we have a great
launch pad so if there's the required money for anything we could fund them probably uh we have
the network we have you know uh 150 000 people that already invested into our token 50 000 that
our premium that's a superpower community that we don't leverage as much as we should so i really
hope that uh going forward this is really where we could really put some more power
uh and power it could mean what everyone uh could mean time it could be dedication it could be as
well borg rewards but how we could really get to to leverage your skills your minds your vision
and building products or services uh within without yeah not necessarily the app but
but in other ways that you guys feel that as the best you know when i got to meet
different projects like the guys from colony labs and their ICU participants and they're part of
the community for some time maybe not making as much noise as other people and now we're working
with them for me that's that's the greatest thing ever right it's you see people that you
grow up you put them into crypto they love it they did it now they're doing their own thing
same with kiln kiln as you guys know they're staking service the french guys uh that they're
doing all they're staking all these lovely people essentially are are you know borgers right
and and uh they now they work with that we work with them and this is this is how i i believe we
will get to get better uh and stronger altogether um so i don't want to do a monologue here
uh i definitely want to leave this space to for anyone to uh to share its opinion um and uh
yeah just please be kind and respectful but yeah anyone who wants to talk share something
it doesn't need to be good you know it could be you're super pissed off and i 100 percent understand
uh yeah anyone who's willing to step in please be my guest
does anyone want to step in
if not uh what i will do is maybe there's comments here um there is comments here we're
not holding this we could always have a smaller group a breakout group uh into the of course our
discord channel i already had one last night quick one but i'm happy to do that again
uh for people if you feel enclosed doors is better than on twitter
and then yeah i think that maybe there's a big subject as well i think so
some people have you know lost some trust or felt hurt that we do promise things and
and sometimes we don't deliver them um
i mean what can i say on that one you know it's maybe maybe may i just suggest uh one
feel free yeah and everyone uh i just wanted to to suggest that maybe a good way to somehow to uh
to to to use that as a stepping stone is i would undo what you have done and redo it
which is a proper way since what you said is that you fucked up uh let's say i think in
principle you know with any change to the to the genesis status there is absolutely no problem
it it was i think it was very badly received just because the way it has been implemented
so my suggestion for you would be to to use uh that to say that you know we listen to the community
and do the what has been announced and just like you know bootstrap kind of like a more
maybe democratic maybe you know any other form of where you involve uh let's say the shareholders
and the board holders in a discussion to come up with uh with a new scheme that could at the end
be exactly the same but you know that would feed being pushed by the community
yeah thank you very much luke if if i think that's that's really smart um
this one is a bit of a difficult one right because people should understand like okay so
let's say last year okay we we have missed we've roughly did 15 million revenues right
uh and if we have added 25 uh zero 25 to genesis we would roughly have done almost double those
those numbers right in terms of revenue so we would have been a great year um which eventually
would be able to create better services better products would be able to essentially hire more
people of course be able to essentially give bigger rewards to the pots of the guardians to
burn swiss board token and essentially be able to bring more value to you guys and and um there are
if i can maybe stop you is just uh i think this is a bit like two simplistic calculation is let's say
if the if the the rates are not the same that doesn't mean that you are going to do the same
amount of transaction that you are going to do then on the same platform and so on and so on
so i think you cannot just like uh assume that there is like a missed uh source of income that
come from the genesis i i think this is not the correct way to see it yeah i mean i think
it depends on people i mean if you're like a very high freak you know high trader which which now
we're talking about 20 30 people in the platform maybe that's true uh and that i do agree but you
know a lot of people from the standards for example said oh we're no the high one and a half percent
is way too high right and we did a little we did a 50 increase well we saw in December and
January well that's the opposite that six people have been trading more than what they were trading
in the past so we did lose few people but i think that going for a free model uh for life is just
killing ourselves because the amount of money that we spent for free trading is huge it's us
managing liquidity on different uh on different essentially uh exchanges therefore people are
doing arbitrage and this and that and essentially it's making us lose a lot of money so it's not
only uh there's not only a a miss opportunity of making money we're actually losing money on that
and and and um does that mean that all the genesis going forward will always have to pay
25 percent is there 25 percent that's the question and i think so this is where we should
have the discussion on how can we service this in a different way going forward
like but and uh having and then again uh genesis having zero fees it's just it's just
a wrong business move it really is not profiting anyone uh besides the person himself and even
that not really because again most of you guys are shareholders too and most of you guys anyways
hold a lot of work and if we're not able to generate revenues there's a very high chance
that uh the board we won't be able to embellish it as most as we can so that that's the
it's a bit where you say like you know we love the most genesis but this is where we receive
probably the less amount of love uh from a business point point of view and from the board
point of view eventually um not from all but some of them because there is a lot of extra work uh
that's that that that unfortunately we have
go for it guys i think so you'll have the possibility to speak
hi saris cloud you're here cj um from my point of view uh i'm not really arguing how you run the
business because as a business uh operator myself sometimes we need to take a different decision
depending on markets um uh situation and internal external uh but the problem is
and my only issue with uh swissburg in general as i said several times is the communication
it's too confusing we need to get some information from discord we need to get
a conversation from twitter some has to be gone from telegram some inferences get information
that we don't get in english we need to get a conversation from someone needs to mute
alexander you need to mute yourself
we need to get a conversation from someone needs to mute someone needs to stop
we can go alexander you need to mute alexander and mute your phone
i'll try again
i don't know what was been heard or not but um
what i was saying is the communication is too confusing and uh and also i think you did really
well in the past where we you were holding with uh different team some sort of uh group
conversation where to be fair genesis was discussed as not a viable
uh premium moving forward and to be fair i was you know i knew was going to happen i didn't know
when but the fact that you know we are lucky as a swiss board to have a really strong community
that managed to raise 17 000 of us over 20 million last year which means you go full support
of a large community but you know the communication needs to be very much a slim line
only official conversation should get out and nothing else you know we in uk got another very
cold um message saying we are not eligible for anything anymore we got caught out from the
score we have caught out from communication account manager that we had disappeared you know
it's not right you know needs to be a level of communication that is okay we don't get the same
service in uk that's fine not a problem but must be someone there they'd contact us and say guys
sorry we cannot deal with you directly but you can still reach us out
yeah and the same and and the same happen for uh the the um what's it called the the last round
we did um with value alpha some alpha were available some they were not available
pegasus yes i'm a pegasus but no other pegasus they try to send emails and they never got back
from from the account manager so all those things you think you know i go 90 of my net worth on
swiss bork right and i know other people they put so much trust in swiss book and i'm not talking
about the performance of the token i'm talking about the overall wealth experience that we should
and trust in the vision of you guys that's it nothing has to say thank you anyway thank you for
everything yeah thank you so much the cg i mean and again sorry i didn't see you last thursday
um the the um and thank you against for all the fucking great t-shirts that i always have
uh the the the for for uk yeah things sucks i mean let's let's put it clear uh we're i i don't
know if we're allowed to talk about it but but we're figuring this out and it should be solved
hopefully soon uh because as you guys know uh uk left europe and therefore the fca put a lot of
different uh yeah a lot of different things regarding licenses now we have this uh we're
under a roof of a of a licensed company so we should be allowed shortly but uh soon need to
uh talk to all you guys communicate as soon as you you're able to go through this
i forgot but uh some communication tests i forgot some uh credibility tests no forgot anyways
this is being done uh and this should be solved in general though for just now if we zoom out from
uk yeah do we have a problem with communications for sure um the there's a lot of different
platforms i get a little bit lost even myself um we have the powwows which usually i try to do my
best but uh this one i didn't know this was coming as soon i thought it was going to happen
a couple of weeks in the future so i should have just talked about you guys this before um
and maybe if i just may uh
25 basis points which is you could be seem like a lot or not a lot it's still one of the best uh
fees you could get in the business just period uh for genesis uh all right so it's still among
the most highly competitive fee that you get with the great user experience with no spreads
with no one who's trying to front trade you with the highest security with a transparent way of
proving the liabilities that we have on chain off chain that nico and their team have really put
hard work being in a regulated company having a company that as well have a strong mission
statement which is financial freedom that's completely transparent as much as we can
and we're we're driven by our community and our shareholders that are you guys right there's no
other platform like that there's rather the american platforms that have this highly
platform that some of them are regulated are great not saying the opposite but many of them
are giving your data to the wrong people because that could be the government or hedge funds and
now the other side you have asia which essentially it's a cryptocurrency news that aren't regulated
there's no transparency on it and they're doing a lot of non-ethical things that we don't need to
talk about on this call so i this is this is for me very very very important as it looks like it's
a lot but it's definitely not that's the first thing second with the whole the most important
things which is people always look at fees is all that different iceberg that's below it
which i really think is as is more important than actually that tip of the iceberg can i
maybe interrupt can you hear me okay um i definitely um agree that switchboard is fantastic
company um i'm very happy to be a part of it also share all the yes yes um but when back in 2020
the genesis started the one big unique selling point was the zero fees lifetime
i understand when the cost go through the roof you have to do something it's in all benefits
that switchboard survives and thrives but i think and although 0.25 percent is really not that much
if i look to my own personal situation cost-wise it doesn't make a big of a difference
but the promise and i think the agreement um for me personally um i paid a lot more than 10 000 euros
it cost me a bitcoin and a couple of ethers to get my genesis my genesis statement of my
genesis status um by far i didn't get it out um the the pegasus came um i saw a little
uh little um spread of the things that were coupled to genesis back in 2020
most of those things are now pegasus pegasus features and for the genesis
it's a nice logo and it's nice to be a big part of switchboard
but it to be honest it didn't really pay off um the the the advantages of genesis are not that
much compared to the other premium tiers and i think the abrupt message of 0.25 from the 15th
arm really missed really missed and i think uh maybe as uh a goodwill um point something
like a limit a limited amount of the trades or a limited amount of money but to um to keep
some zero fee trades in the stables and in bitcoin would be definitely in place
yeah thank you alex that that that's that thanks for coming up and and it's not always
easy to share your your opinions so if that was very very clear here i mean you know a lot of
people have bought the the 50 000 or got into the genesis at a high price and and i'm not saying
that uh you know am i'm happy that uh the board today is is is trading at 9 1 90 90 percent or
85 from all time highs for sure it sucks um but that's an investment that was done into the
swissboard token right it's it's it's it's completely for me it was an investment in genesis
not so much the swissboard token because if it worked for the genesis i don't think my amount
would have been 60k i think it would be a little bit less i definitely opted for the genesis and
the things that were um in place to become a genesis i thought it was a fantastic opportunity
a long-term long-term driven because i was aware it wouldn't come back to me uh quick
but there's no need because i'm not planning on leaving crypto so in time it would be a
fantastic investment um but in time a lot of things that were um on the horizon with the start
been put into other places mainly pegasus yeah so so so what i mean a lot of most i mean just
a lot of people from genesis are are part of of of pegasus and and i would say the the top line
is to add on features that are are part but like many as well people that are in and the pegasus
uh don't have access to the genesis plan either right if they're high trading whatsoever they
can't get into it what i what i hear for the most important for me is how do we bring the board to
to to all times highs and and discover new heights and that's definitely the plan uh you know do i
control it no of course not can i ensure you this no i can't it's it's an investment there's always
the potential not going to all times high but we are very clear that this is one way
that's going to favor the board just it's just simple as that so so it looks like it takes it
removes you from your plates on food which on the opposite actually it essentially gives you more
food eventually going forward it takes it removes you to to essentially be able to produce
more food at the end right and and that's what we really hope and and in terms of of of
ads on do we we we want to have ads on that's for sure uh will they have cooler things for
the genesis and will would we be able to uh do more things for you guys um i can't ensure you
this is going to happen but we definitely have this in mind and and i really want to make sure
that uh the genesis will not be forgotten and will always have some special cool things but
they can't have everything it just doesn't make sense because if not we'll not attract new people
and if you know that people then we'll kill ourselves yeah it's it's it's not about the
25 fees right it's it's about promises that were being broken because i listened to all the powwows
and um i got into genesis i'm not a whale not every genesis is a whale i got into genesis
sold quite some eth for it and i'm uh deep in the red because of that and we've been promised to be
the most important premiere tier and that's something that i just don't see anymore and
there could be things that don't cost anything to give it some back something some appreciation
to stick through it you know when i stake the 50k i realized that with there will be no no yield
on the 50k i could have staked 20 and had the yield but i didn't and i stayed and i was always
waiting for that bone to be thrown to us and it never happened you know um why can't you do like a
guaranteed allocation on an alpha deal for genesis or something that doesn't cost you much but that
would show the worth that you give to genesis holders because at the moment i don't see any
benefits in genesis anymore i'm not a huge trader so the 0.25 that saves me like a buck a month
with my dca so i never did it for that i did it because we were promised it's always going to be
the highest premium with the highest benefits and and i kept you by that promise and you talked
about entitlement when you said about ease and bitcoin but you know vitalik never promised you
anything but you did and i held you on your promise for years now and it's just nothing
coming back on the promise and then i read about series b already while you didn't deliver on the
promise from series say with the card so there's a lot of promises being made and broken and that's
what really pisses me off it's not the 0.25 fees it's the communication and it's the promises that
that are being broken all the time yeah okay thank you very much for that and i'm sure a lot of people
have um oh sorry not sorry for the people we're requesting victor as well um yeah first apologies
for this uh i think so again you know um i think that uh the the genesis premium uh i always want
and i still want uh it to be the the best premium and it is the best premium it's just that
there is other services that we're creating now that have this scarcity and uh with the scarcity
that you have well then how do you make sure that you're able to bring more value to other people
well then if you favor only genesis people for all the alpha deals well then you don't attract
new users right so did i fuck up on saying like this is the case yeah i did um is today
is there a better premium than genesis no there's not really a better burden but if you're part of
the pegasus you did you get to have a better experience that's true right um and um how to
repair this if you see my slack today and for the last two weeks i've been trying to figure out how
the genesis could really get to have a special i mean you already have a you already always have
your own uh would say your own uh vault but then you know you guys are still have 5 000 genesis
right or 4 000 something maybe maybe no one starts together with with uh with other premiums
there's no single vault so far that was only for for genesis another single one that i've
seen it's the generation and genesis yeah right compared to generation which has to
say like less than half of what we do it's just not right and i'm not saying giving all
the alpha deals completely to us but just make sure that we got the guaranteed allocation so
we don't have to sit in front of our phones like add two and then check every second to to get in
maybe give us a guaranteed allocation that wouldn't cost you anything and it doesn't need
to be the whole pot just give us something you know yeah i'm 100 so so i think that is the
probably the worst move we should we should have made this in the past this is going to happen
i guarantee the location though if i just say is is is a bit complicated though just let me finish
because because if we're 4 000 people right and we have a 400 000 let's say uh uh essentially
400 000 um yeah still doable i mean hundred dollars each but that's still you see it's still
complicated right um but yes i hear you hundred percent and will they have uh alpha deals that
will go to genesis vault yes and i talked to demand today already about that and we will
definitely be able to to offer you this maybe lower the the entrance to the pegasus
possibility for genesis holders maybe from 100k to 75k if you're also a genesis that would be nice
and i suggestion as well and i can tell you but i will definitely uh bring that uh on monday to
see how genesis could benefit to get into the pegasus with better conditions so better times
i was a pegasus now i'm not anymore but if it would lower 275 i would definitely hump it to
pegasus again would be very much prepared to pay the 2 000 works for it as well definitely
sorry sir um yeah sorry can i be a little bit selfish and jump in it's only because i've got
another thing to go to to be honest i'm trying to squeeze this in the day job um of course we're
in the realms of speaking with people who are obviously going through all the specifics around
what you could or couldn't do and obviously that that conversation could go on forever to be honest
with you so i think what i wanted to do is try and perhaps just raise the conversation up a second
there was three or four points i was going to make um if you don't mind so first of all um i don't
know if anybody said it yet but i wanted to say thank you for you know for producing a great
company uh great product and to be honest with you if you stick your neck out there you're going
to make mistakes now and then if you run a business and anyone that's run a business will recognize
that you've been big enough to say i've made mistakes and i really respect you for that
um and i and i think um recognition where it's due um in that sense so first of all thank you
very much um secondly without getting down into the detail of the ins and outs of what you're
going to do and i'm sure that conversation as i say can go on after afterwards um i think what
the important thing here for me was as somebody that invested in the business when you had nothing
to offer whatsoever other than a dream um that was a leap of faith both in terms of what you
were saying you're going to do and the team that was going to do it and for me that counts for
something because because that's going out on a limb literally with no offering at all and i know
later on obviously um people who did that then got combined with people who were prepared to
stump up huge amounts of money um to get the genesis status um so i think um that there needs
to be some recognition for that and i'm a bit like one of the other chaps that spoke i don't
really care about the 0.25% and i'm sure many on this call probably don't either it will make
literally bubble rule difference to my life in terms of trading on the app but i think what you
need to do is make sure that people who have either invested a significant amount of money
or and or um had that leap of faith right at the beginning with you there needs to be some way
within the product that that is recognized and as i said on um twitter and i've been a bit vocal as
i'm sure you you may have seen i think for the first time ever i actually phoned claire and
russell last night and actually voiced my my discontent um because we do have a great community
and it's when things like this happen it really does it really does rock it and all i would say i
mean last night i was saying i hope that 0.25% was worth it because i think if you'd if you separate
what you're doing and how you do it and why you do it uh and you're very visible with that and you
bring people on the journey i think you would have not had so much of an issue if you if you
said look over the last six months this is the turnover this is the problem we're paying these
fees it's not sustainable we're really open to suggestions from the community as to what we can
do to try and rectify this then you're still going to get people who won't be happy but you
will at least people will at least understand why and your approach to it so um i think that really
needs to be much more considered in the future and and and the other point i was going to make was
around communication which i think lots of people are going to probably say communication within
swiss pool has historically in my opinion not been great and that and that continues and so
it's a real shame because there are so many areas where the organization is fantastic better than
a lot of organizations but i would say whoever you put in charge of your communications your
communications manager director whatever you want to call them or or if you don't have one then get
one um that that would be my record my recommendation um and i say that in context of i mean i can't
really talk on the callers to what i do but anybody that knows me knows broadly what i do
and i'm i'm involved in communications um change leadership and strategy for organizations that
spend billions of pounds um and that's my day job so um this this hobby on the side whenever you want
yeah i i can see that there's challenges there and of course i'd be more than willing to to help
you know if that's something you want to talk about offline you know um so um that that's my
feedback um i wanted to get that if i could because i need to go unfortunately so i hope
that's constructive and i hope that helps many thank you thank you very much for this and yes
i would love to go for a workshop and and make this out so thanks so much for this
maybe i can just add on one uh one little thing is just uh you know since you're based in sitzerland
in sitzerland that's kind of like the only country in the world where people say yes
to have an increase in their tax rate uh so you know i think you you should somehow reduce the
process listening you know being community-centric or being more democratic or something like this
and involve the people saying there is a problem we have several solution let's try to figure out
what is the best and uh i think somehow with this type of let's say autocratic regime in a company
that wants to be community-centric that's just never going to fly and you will as a result what
you would just get is you know uh genesis uh members leaving the boat and and this i think
will be not favorable to the to swiss boat then of course look i think that i understand where
you're coming and and and we'll take that this into consideration i think from from this point
though the the the main most important is how we communicate better how do we how do we get to
consider as well more the genesis how do we get them perks potentially i like the the vaults one
of course this is one that could be big i think the pegas this one would be a lot of would make a
lot of sense as well especially those who actually have participated to to acquire this premium at a
very high price right so uh that's definitely uh something we want uh just for the time as we have
the one in french that started already three minutes ago that i have the one with the french one
i will still let let the last five minutes if that's okay for for you guys uh victor sorry
you're there you go back victor is back um what i wanted to say as well i forgot shoot if everyone
might say uh yes series b so um we're not we're not doing any series b today uh but after a series
eight there's always series b it's like uh matrix one two three there's to always essentially so
you know last year was not a great year the last three months were good uh we're doing okay in terms
of revenue uh we're in terms of funding we're still good we have i find that mistaking uh 48
months runway so it's not that but we got to evaluation which was not high but was not
extremely low either and what we have to do in the company is to make sure that you know the in the
series b which might happen whatever when it happens um we need to show multiples of revenues
that are very interesting right and we have to show that you know uh i don't know a certain
amount of of revenue let's say 30 50 60 million dollars are Swiss francs sorry of revenues in
order to get evaluation of 500 800 a billion or more right so i think so this is where it's coming
it's not like like we need right money right now right now because no we're actually making more
money that we're spending at least in this last three months but but but we still always need to
make more revenue in order to create more products spend more money but as well show to the world
that our evaluation of whatever 220 million which was last time now we'll double it or triple it or
quadruple it or whatever at least get to have a higher valuation so that's very very important
uh because you are her her shareholders and second we want to impress the next ones right
and that's very very important so uh just wanted to make that clear
uh may i have a board just please okay thank you well uh i consider the uh the opposite
actually i have the the opposite sensation for me to increase uh by 25 points
uh what is uh what is being paid by any transaction is excellent because i was
i think we were losing money without doing that and i also think that communication in swissborg
is fantastic through powwow so this is my vision about what is going on you know probably there
is people doing many many transactions and bringing costs to the to the business and uh
so i'm losing money i guess so it's fantastic move uh i'd like to be a genesis premium premium
as you told sirens to give support to the business i think we should as you said try to
uh try to bring to the table more ideas that that that can be headed by people and added
to the community without uh having to be sponsored by anyone this is fantastic
and i think this is the way to go i'm very happy with the changes and you have my full support okay
thank you so much victor it means a lot from you uh it's been eight years bringing a lot of support
to us and uh thank you so much for that that's really really cool
is there anyone else that wants to bring something yes please and then unfortunately i think so i'll
have to jump to the french one uh and close this chat because i think so i cannot have two chats at
the same time hello hello can anyone hear me yep all right syrus the one thing i'd like to say is
obviously the amount of things that have been promised for genesis that people have been
talking about i used to have a lot with swiss bog i don't anymore for numerous reasons and i didn't
put a lot in to get my genesis i'll i'll put that out there straight away but it's the lack
of trust as everyone has said i don't really care about the fees and i just want to know
with what you've said today and you've nodded your head and you've said yes i'll think about
that we'll talk about this moving forward how can any of us trust syrus and swiss bog moving forward
yeah i think so the first thing could be the next big vault uh for alpha i'm making genesis
that's that's for me it's it's the clear one right um it's just you know uh you know like i said
and and if i just may is like if you don't trust swiss board right i think the actually
tell me one actor that you trust more than i think the app is i think the app is the best thing
out there for onboarding and off boarding crypto for myself and people i know i've talked to quite
a lot of people you know and i've always suggested to use your app it's just that as people have said
your time and time again on this talk genesis was promised something and if it was known at the time
it was not sustainable then why was it marketed and the way it was where it's cost people a lot
of money you know people have spent a lot of money to get the genesis and they saw that as
a long-term investment for getting benefits that have just been eroded over time and i feel sorry
for them more than myself to be fair yeah i think it's the case that we're not losing genesis
uh i'm i'm top boy i'm the i'm the loser who's been raising his hand and trying to get a word
in i don't know if anybody can hear me but yeah it looks like they can't it's like again it's like
we're not losing genesis right and we're we're we're a benefit is getting removed and it's sort
of like i agree with the previous callers it's it's it's more of the it's more the principle
like syrus we know your heart is in this and we we know you have your emotional and very personal
but you do preach a lot about meritocracy uh community and democracy and especially with
the meritocracy and the democracy parts it's just failing right like i know you believe in it and
you really do we hear it we hear it in your voice we hear it in the powwows and we relate to that
and that's not all something we're striving for which is why we're with this board in the first
place and that's why i'm with it i mean minus all the negativity i bring sometimes but it's because
the best and so if you're preaching meritocracy you're preaching democracy you're preaching
community and then in a case like this where it's just i didn't i haven't even received an email
yet i'm learning of this through discord learning of this through um and through twitter so it's
like i think most people here aren't against the modification um to the bent to to the benefit
of an increase in fees because it's it's for the best especially if you're losing money
um but why remove it completely like why is it an all or nothing thing i mean yeah yes if there's
abuse um of course you want to limit that but um why can't you limit it limit it so that we're all
not penalized i mean there's so many options that you that that you could use that where you could
increase the fee which is fine but also have like sort of non-monetary benefits i mean we're talking
real specifics here but what like if this is a true democracy why not why not give a few options
to genesis members or the community and have a vote on it i mean that that's a democracy right
like limit limit limit the number of transactions um free withdrawals uh disc no fees on uh auto
investor or what's the thematics i mean just be creative i mean you're seem like a creative guy
the app is slick i mean i i i 100 you know like why not hear you why not why not offer
alternatives rather than a complete removal i think would all just be like whoa you're throwing
a bone to us and you're still sort of respecting what you're preaching yeah that's all i gotta say
i 100 i mean we do have a plan for a lot of cool stuff but as you guys know the plan and the
creativity sometimes does not necessarily transform into uh an actionable feature into
the app in a very short time and um and i don't want to i don't want to blow too much expectation
here in this call uh because yeah what you just said you know did anthony myself or alex or anyone
else uh didn't did not agree with you 100 everyone agrees with you it's just that then we
have the the the the other part which is that building technology and products is fucking
horrible it's they're just really difficult it's much more difficult than than uh what we want to
do so will we go there for sure uh does the democracy uh through swiss borg and meritocracy
is really represented to the app today in swiss borg no it's horrible right we have this guardians
which is a great initiative that's led by benji and danny but we do we do need a lot of more of
that and we need to make it easier and more fun and where people will get really yeah their word
to say and again how they could build uh better things by themselves as well that's that's that's
the two thing so yes i 100 agree with you um will we get there very soon i don't know
um but i i i do think at the end wherever what we try to do is always in the best
right there's there's no other there's very few people in the world that really mean what they
they say and i think so when we we really want to offer you guys financial freedom and
we want to offer you the best service that's possible through swiss borg and in through
se genesis that's something that's really true and then sometimes you know there's some decisions
that we take that are in the best interest for everyone and then in the short run they really
suck for some people uh we will definitely put a lot of diseases on the borg token as you guys
know there's a lot of things that are being cooked uh that maybe some have heard last week
maybe some haven't heard uh but there's a lot of exciting things i think that uh from this call
the main takeaway is that communication sucks we need to figure out a way to give back some
beauty to genesis i love the idea about the the pegasus the vaults about maybe trying to
figure out other different ways for the trading fees for especially those who do a lot of heavy
trading um so more customization within that that's for sure um i really have to buck right
now because already 15 minutes late for the french ama um so again apologies for this
miscommunication for maybe not showing as much love as we should to the genesis
we will figure out better ways to come up with a strict plan for you and
for those that have lost confidence and and and the borg token i know that a few months from now
you'll probably regain it and and it's my work and my job to make that happen so as always
be wealthy be healthy love our borg and equity take care guys much love many thanks many thanks
