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Tezos Community Call | APAC Edition #42 | @plenty_network
Recorded: Sept. 13, 2023 Duration: 1:34:40Space Recording
Full Transcription
the exact date once we get a clearance from from the audit from the audit company because since
it's a third party audit being done by inference so yeah it's just in the final stages we just have
to get a final go ahead so we would get it anytime since so once we get that then we'll announce the
date we'll take uh four or five days for for another round of testing and then we'll launch
yeah we just don't want to put out a date
date just yet because because it's just in the final stages of audit
right that can be understandable too that can be understandable too and uh anybody listening
um it was coming saturday on what's the date there should have had that ready
oh this new windows 11 i have no idea how to look up the calendar on windows 11 it's killing me
this saturday is 16th 16th september 16th saturday the 16th uh we will be breaking down
uh plenty v3 with the entire team and going over it in depth so if you are interested in
that um definitely join us then and we'll have way more details for you yeah so sorry about that
1 a.m kicking in heavy heavy today okay especially especially the liquidity providers right
um people who are providing liquidity already in any of the in any of the decentralized exchanges
weird you know plenty or anything else everybody should join in because um yeah because
the way you provide liquidities is uh being changed now in v3
so it's good it's good if everybody learns how that works and yeah not just liquidity providers
of course the the people who are using swap um yeah for people who are doing swap for normal
users i don't think there'll be like a lot of change but people uh if there are institutions
and if um if there are big whales or if they are big uh you know liquidity providers with big pockets
um yeah so for them this is going to be a real uh important thing the v3 because this is mostly for
for the power users who would want to um use the decks
in a more in a more advanced way so it's mostly for them
i thought it would be very interesting to break down and to see what the
what the liquidity providers say right uh what their opinions will be and thoughts will be on
the changes that's going to be very interesting to uh to see in here
do you do do you foresee any liquidity providers being um upset with changes at all for any reason
i don't think so because um this is adding more functionality right we are not cutting down any
functionality that is there in v2 it's much more efficient much more optimized it's i would say
you know in v2 you just provide liquidity for the entire price range now you can break break
the price range you can you know make it into different tiers and then provide liquidity in
those particular um particular subset in the particular subset so it's it's more advanced
than v2 so we're not like sort of going away from the functionality we are adding more functionality
so that it it suits for for the power users and it's more efficient that's how v3 is
okay yeah that makes sense you know how the uh you know how some of the tezos folk can be
how well not even just tezos that's not fair to put that on tezos you know how
can be uh you know always causing up a fuss over the slightest little changes but yeah that's
interesting um i'm definitely excited for that uh oh look at we have wise in this space welcome
wise welcome to our completely uh silent and dead apex space feel free to come up um talk to us say
hi um you know talk to me about star trek or something keep me awake feel free feel free
it's been a minute um and yeah sorry sorry i interrupted you
no no nothing if wise is that i would like i'd like to ask her
more questions like a lot of things are happening with fx
oh is there stuff happening
oh why yeah there's some gender to our night
hey how's it going people it's been a minute it's been a very
long minute actually
yes hello hello so i was i was wondering why i was wondering um so did you know that the apac calls
like move times and are now on the plenty network uh you know there was a change there was a there
was a an account change and a time change uh we never stopped but we seem to have disappeared
uh so i was wondering if uh if you noticed that at all i mean
like i've seen i think like i saw a tweet yesterday like a quote retweet or something
about the um about like not necessarily the time changing but like the apac calls are still
happening that's the only thing that i've seen but i've just because like burnt because he's
like i think like uh he tweeted like some time ago is going to be offline doing relaxing doing
stuff and then all of a sudden i saw the plenty logo change and i'm like what just happened
is non-wallet not a thing anymore like now that's on now none is on none now it's plenty
wallets there's like so many changes but the thing is though we don't know i personally don't know
till like almost like two weeks or like three weeks of like me checking that's pretty much it
so the algorithm has kind of screwed everyone over
um and if you don't have like the blue check you're pretty much like guaranteed
you're not going to see anyone that you pretty much like follow um like their stuff specifically
like their important announcement unless you speak to that person or unless you go to that
specific page just to check it out so everyone is kind of like scrambling with what the fuck
is happening kind of thing um but like typically people kind of like dm each other that's like the
short-term solution for the moment but um yeah like i had no idea i thought you guys like the um
like the now the plenty calls are kind of like um no longer running and like they've
or like they've moved to discord considering its whole um algorithm issue
interesting uh yeah no so so plenty to start it from the beginning plenty wallet uh non-wallet
has changed to plenty wallet uh it's the same application same um everything the only thing
that changed was the name so that way everybody now knows hey same team same guys uh and then
eventually we'll probably integrate you know the decks into the wallet as well um down the line but
yeah right now it's the same thing um onboarding first artist first uh plenty wallet and i find
this intro
interesting as you remember how i said i think the account change is one of the biggest factors
um because it sounds like wise you saw the posts from the old uh non-account and that would be
plenty wallet so um i'm gonna have to yeah definitely post there more remind people more
and it also uh yeah see i told you as you that um we should definitely do like an nft project or
something just flashy so that way everybody knows and then i'm gonna have to yeah definitely post
that so yeah i'm gonna have to yeah definitely post that i'm gonna have to yeah definitely post that
uh plenty wallet it not is now planning it wasn't even like the from like the no no the non-wallet
it was more just like somebody quote retweeted that and i didn't really see if it was like from
the plenty or like the old logo so like that was like the confusion and i think for me like when i
was really surprised i'm like oh it's like things are still happening now and plus like thursdays and
happens used to be like on thursdays um and and like today's wednesday for me so i'm like that has
been a change as well so yeah it's kind of like over well i'm glad i uh so another another
admission i will say and a change that happened tonight is this is the first time
sent in for at least a month or so probably longer um that i've actually sent
out personal invites like i sent you a personal dm with an invite link it's been a while since
i've done that as well so uh i so with the new twitter changes i guess i'll have to do that
again i just didn't want anybody to uh feel obligated at all i felt i felt like people were
starting to feel like they were obligated you know what i mean so i stopped doing that for a
while but maybe i should pick that back up as well i mean if you want sure um it's like at the moment
the rate is kind of low it's very flat almost and like people are just so fucking exhausted
and they want to find a space to bitch at how exhausted they are so just beware beware it's
like i'm exhausted i've only slept like two hours i'm like then what the fuck are you doing here
shouldn't you be sleeping more kind of thing um i mean like i mean like i really hate to say this
but like i feel like not just like tezos but i'm just talking about like the entire space
it's very flat and people are just fighting each other for the sake of fighting and it's
really exhausting to see
oh yeah that's sad i see little spurts of it here and there i've successfully stayed mostly
clear of it i mean if you go through my timeline right now i'm mostly talking about final fantasy
so it's uh yeah i mean i'm trying to stay as positive as possible personally so
uh that sucks that people are still fighting
with each other uh yeah i'll hope a little bit better i think right now i mean like if i have
the choice personally i would not want to be in twitter like i would just like want to fucking
delete the entire thing going like hibernation for a couple months and then kind of like come
back bad like yeah but like i mean to me personally anyway um it's not a bad idea i mean i do it in
in small little spurts um and i try to make sure that my timeline is as positive as possible i
really do so that when those little short spurts that i have on twitter aren't uh not that bad
right uh it's mostly positive stuff uh thankfully right now i've just like started doing like album
recommendations because i'm like you know what let's just do that just let's chill for a bit
um because i just need like a palate cleanser you know not necessarily everything is about digital
art i'm like show me you're human outside of digital art kind of thing and i've just been
doing it every once in a while i've only done like three times actually so that's pretty much as much
as i can do but um i don't know yeah that's actually probably another change i should mention
right um so am i still in this space doesn't look like i'm still in the space
my account i i doxed myself completely so theo wayne has always just been like my gamer tag that
i've used on like playstation and stuff uh it's no more real than wise eight so i doxed myself
recently um as red so you can see my face uh i got my profile my it's me and my daughter
uh where did i go let me get that back up there so yeah that was another big change too
so i know is there's a lot of changes that
happened and they happened at the same time that twitter switched over to x so yeah talk about i
don't know if you want to call it perfect timing or bad timing but uh yeah so there was a lot of
changes that happened um there we go there's my profile so um if you're confused if you see me
running around posting about final fantasy and you're like why is this person on my page suddenly
and why is he talking about final fantasy that's me
i'm like who is this white man and what is he doing in my dms and what is happening
and i just realized this okay i'm gonna be completely honest i thought it was like
support related so like i think i was talking to this person at some point and then i when i
scrolled up i'm like okay the plenty i'm like oh it's it's might be theo but i'm like i don't know
if it's theo maybe it is maybe it's not so i i just kind of like um what what did they say i don't know
what they say roll the dice i was like throw the dice thank you thank you for rolling those
dice i did i do have it in my bio uh that i was i go by theo wayne sometimes still um and it's okay
if people still want to call me that like i said it's still my like you know gamer tag or whatever
right you have a real name but you'll always be wise so i think that this one is too late
like even if i can change right i mean yeah i haven't really been to spaces
that much when i say like i haven't i mean like so like we do like an object space on um
like on saturdays kind of thing and that's pretty much like the only thing i kind of like
do um like spaces i just
oh my god yeah i mean well we're our focus here is we're trying to have fun even with the saturday
call
like that's been our main focus lately is uh is try to be as positive as possible so we were
talking about twitter uh the algorithm have you been digging into it at all and how it works and
stuff now because we can talk about that all day we we've been breaking it down pretty heavy
uh for the last couple weeks now me and tezos gaming digging really into it and um i mean like
talking about it and stuff from like the group chats and stuff i've only kind of
like i kind of get it sort of don't post links um make sure it's always like um obviously if you
have like the check mark thingy it's always like the best option like paying for it and i refuse to
pay denny musk anything because no i have i have some integrity as fucked up as it is using his
app there is that kind of thing that kind of carries it around um and um yeah like just it's
also like pictures and stuff like really kind of gets the likes um i've been consistent in when i
post um like the good mornings and the if there's like any announcements and stuff and i still kind
of get some tractions so i'm okay with that for me personally i haven't really been digging into
it but like i still um i post by like nft god and i think um it kind of broke down how the algorithm
sort of like structured how it's like when you post how we post it and i think it's kind of like
pushes you down and pushes other people up and that's why more people are kind of becoming the
reply guy to kind of get the impressions and stuff like that i'm like that sounds like a
fucking horrific existence so no thank you for me the fact that i post once post once is enough
i have nothing interesting to say aside from a good morning and that's it that is like my service
so the
uh the nft god or that whole post that he made or whatever that's actually really good so if you've
seen that you have the the good majority of all the changes um yeah but the perspective
um i would say is lacking so the perspective that we kind of have on it is you're not allowed to be
uh negative anymore or or or even interact with anybody who's being negative and not even really
negative
but anyone that can be uh interpreted by this algorithm right not a human
to be negative so say it you uh you post a tweet and your tweet is literally
uh what the fuck and that would be a very wise tweet to post like that's just it what the fuck
and you know that would that would be very wise post so but that just just the swear alone
would de-boost your post and that would be a very wise tweet to post like that's just it what the fuck
and then say if i commented on it like lols or smiley face i would get de-boosted too so it's
very so yeah so you want to stick with positive stuff and it's a good time if you want to really
hunt with the replies say me for example i'm paying for blue the reason i i bought blue is
because unfortunately everybody else bought blue and now i can't dm anybody or get things done for
my job and interviews and stuff so i'm paying for blue and i'm paying for blue and i'm paying for
stuff unless i have blue so with that being said now i gotta instead of crying about it i gotta play
to the algorithm so instead of being negative it's super positive and i get to spend more time
just talking about other things so that's why you see me posting about like final fantasy
right now because there's a new game out and every time i like reply something i'll post like a
meme or something i won't work very hard on it
i'll post it and i'll get like 8 000 uh views on it right so it so i get to not only have fun
on the tezo side of it and stay positive but i get to talk about the other things that i want to
talk about which are let's be honest have way more reach than crypto you could sit there and
talk about you could turn your profile into a star trek profile and you'd get way more reach
than you than you ever would in crypto you know what i mean so i get to have fun talk about the
things i want to talk about and i'll post it and i'll get like 8 000 views on it right so i get to
and maybe possibly earn my my money back so that twitter is free again not make money that's not the
goal but to maybe pay for the subscription break even kind of thing no i get it i mean
it just i don't think that's inherently true i mean like
a part of me really wants to believe that but i'm seeing like a lot more negative posts
but like they of course they don't say like what the but it's more just like the content itself is
very negative but it's still doing exceptionally well in terms of like impressions and um
impressions and expressions um and views and stuff like that it's like and it's always it it's
it kind of falls into like two brackets really it's like the misogynist kind of rant but it's
not dressed as misogyny or it's the weird trans rant not dressed as like trans rant you know
it's just like the oh yeah so yeah yeah i avoid that stuff yeah so i guess that's why okay yeah
that makes sense yeah so like it's just sure you can change the language all you want you know
your semantics on chat but like it's still the same you know it's just dressed differently so
like that's just what i'm seeing and the and like those two things i don't actively look for it i
don't i don't i don't i don't i don't i don't i don't i don't i don't i don't i don't i don't i don't
i don't it just comes up on my like on my time like on my timeline because someone liked it or
whatever happened so those are the posts that tend to do really well as well so you know we're kind
of as much as we want to be students of the algorithm end of the day negativity will win
it's just dressed as positivity or pseudo positivity so you know human brain right
human brain and the thing that kind of cuts me i'm like i'm seeing a difference
inside to things and i hate it i'm not gonna comment i'm just gonna you know just
close the app because that's what that's what i've been like i've been spending most of my time
like med twitter and science twitter so if you see any weird shit like lucky is because she's
seeing like a lot of shit and every time she does she just tags me or just like dms um that's kind
of become my camp a little bit um you should send me some screenshots one of these days
if you remember just so i could i'd like to look at that see that stuff and and break it down and
like see why it's still trending and stuff because yeah yeah it's definitely something to figure out
nobody has their head fully wrapped around it for sure like the the whole thing is just
it's designed almost to just keep the echo chamber kind of going and that's really all there is to it
um oh for sure actually that's
that's true that that can be yeah that's definitely true in a way right like um
uh yeah it's definitely most true for for final fantasy even right the thing i'm constantly
replying to now like all of a sudden that's my focus for no reason that's something that
that's amazing but like i'm seeing a lot of like migration kind of happening so like a lot of the
scientists and doctors and stuff they're kind of leaving twitter
because of like that ideology that's kind of was dormant at some point but now it's just like hey i can
do what i want and let's do this but i need to just disguise my language but like i'm seeing
this like slow migration um to blue sky or insta or whatever but like that's just kind of like
they they should they i would think that they're all going to threads right i mean uh scientists
any of those uh you know people none of them like elon musk so that makes total sense i would
assume that they're all going to threads i haven't heard anything about blue sky are you still using
blue sky i really like i don't use it i just like check to see if there's like anything kind
of interesting well like they've done like a they've added like a feature and stuff like that
but like the app is very much like twitter-esque so but i do like i do like the layout i really do
i like the interface
i like the interface
it's really pretty i just yeah i feel like twitter right now is just
it's almost kind of oh i'm not even gonna say a word i'm just gonna do a sound um
but you know it is what it is i guess like it's what we make of it right
and technically twitter is kind of like an extension of minds and opinions and
thoughts doesn't really matter what's positive or negative obviously the negative is gonna win
but you know it's cool it's cool it is what it is i suppose never mind about that let's talk about
what's um i was gonna say uh you had uh questions for wise and i stole her from you um no because i
haven't i was talking to you so i'm just like oh shit no no i think i'm not not many questions
but wise was saying that hey it's the scene in tezos is not in tezos in crypto is pretty much low
people are like laidback not much excitement and all that but here in india if you see i don't know
what tezos but there are a couple of big hacker houses happening solana hacker house is is starting
tomorrow it's like a four-day event which is uh like what's going on right now so that's it we're
in tezos for now
event it's an offline event where all the developers product guys business guys will
will come it's a you know they've taken like a big uh i think some some five-star hotel or
something like a big venue yeah and uh everybody can check in anyone can check in in the morning
and there'll be a lot of talks going on talks panel discussions and all these things going on
and um and the training on how to build on solana this will also happen and it's not for one day
right it's like four days and people can collaborate um attend workshops um build build
something and um yeah in four days i think it's you know people all people physically sitting in
one place and discussing ideating uh building something is is really great i mean i see some
um some real movement some real energy uh with with some of the college uh college students out
there you know who you know who is you know who want to get into web 3 and want to do something so
something is moving something is moving i would say still in in india and it's not just one
hacker i was there conducting it's happening at two venues one in bangalore uh it's starting
from tomorrow or day after tomorrow i guess and another one in mumbai um that's
towards the end of this month so that's nice and they've set up the stage also properly right like
it's just not conducting hacker i was out of the blue so solana they have launched like um like
solana pay um i think a month back or whatever you know whatever recently and they've put out
some ideas there was an integration with shopify yeah solana pay is now integrated
with shopify so all these yeah so you know they've tried to create some buzz good marketing good hype
and um they've also put out some ideas regarding payments which are also like kind of really cool
and also checking them out so yeah in one way there is some movement in crypto market i would say
uh especially with all these things and then i know one of our team members have
um he has he he flew to singapore for token 2049 things are happening there as well do you so yeah
bits and pieces i feel like it's all bits and pieces do you think that um because of like
solana's like solana's like at the moment it's using like the bear market to its to its
to oh my god words shit to its advantage um so like it's
it's a new like um way to say this but sort of like a really cool thing about the crypto market
um like the way that it's really building up and building up its new capacity is it's
like an inevitable suggestion um that we kind of need to like announce something that like
we're going to have uh some good news in the future so i think that um this could certainly be worth
talking about it could be like a little example of the kind of thing that's going on that's going to happen
yeah it's going to happen i think that's what we're hoping that's what we're hoping for so far yeah so i think that's a pretty interesting part of it and like
happening but obviously it's like a much
like slower pace than before
you think it's just like
Solana is going to be like
almost like an ETH
competitor like on solid ground
as an ETH competitor
yeah
I mean you're actually right
on the point they are
actually trying to use this as an advantage
because
right now it's a bear market
everything is very low and this is
the time to set up that stage
right if they already
initiate talks
with all the brands
you know if they already start
start talking about some partnerships
start ideation and then
you know do a little bit of POCs
and get them up to speed
then when the bull market
starts it's really easy they can just
you know they can just go full on
they would have made all the connections
they would have discussed
all the ideas and
and they can just go full on right
so that's
that's a really good
strategy that
I would say these guys are taking
and even with bull market right
you're right like it's sorry
even with bear market you're right
I was just checking out like last
3 years 4 years data
on the price
price action
for all the blockchains you know starting from
Bitcoin and then Ethereum
Solana Cardano
everything all
almost all top 50 blockchains I was just checking out one by one
every everything falls under the same pattern
you know from 2019-20 there is
there's a big bull run till 2021
and then everything kind of went crashing
by then by 2022
and now from last one year it's flat
it's only a sideways movement
this is it's almost like a mountain that I see
in the graph not just for tezos
not just for Solana
not just roeterum
everything like like I can literally put all the charts in one page and see if this is the pattern
so yeah the entire crypto market is in the same
same zone right now
and whosoever takes advantage of this time
Yeah we'll we'll definitely have
like a big head start for the next bull run
I feel like if we think of like a big start following the like the next bull run wasn't it would be much better for you know
like i should point out you guys saw the news that uh so ftx we remember them right um yeah
they they uh they're still holding about seven billion dollars in assets i don't know exactly
what those assets are but if i remember correctly a good majority of it anyway should be solana if
they if they didn't already dump all their solana in the beginning right so uh we we could see a
huge hit and no matter what the token is that they're holding at the entire market's gonna feel
it if they dump that right um or if the assets get seized i don't know what happens in this whole
situation so it's you gotta we gotta really keep an eye on that so we might be taking a bigger dip
uh a bigger
dip before we go up let's say so that's something to what's one thing i want to point out and that
that we should probably keep an eye on and then the other when it comes to solana itself
yeah i would say the team you know for you know whatever no matter what i believe they've
stayed consistent they're still here they're still building still trying to do everything
that they at least promised that they would do in the beginning um and that that says a lot
it says a lot um after all this time you know what i mean you can't really hate on that consistency
and then at the same time as the absolute uh realist that i am i do uh have to you know
admit they solana was a big deal yeah back in 2021 you guys remember that solana was a big deal
they got a lot of money and a lot of partnerships and a lot of funding they kind of have to do
what they said they had to do and they have to do what they said they had to do and they have to do
what they said they were gonna do bear market or no bear market right you know they kind of have
to or they're going to prison it's kind of kind of how it's gonna so you know they're gonna perform
they're gonna perform right so uh it should be interesting to see i like with the partnerships
that tezos has the i think like with google the dmv in the states um and like with united and
stuff like that clearly despite the fact that they're going to do bear market or no bear market
like all these like partnerships and the big brand they are it's not creating all like the
same buzz you know as solana it's i don't know i feel like the winners have been determined
this is like i'm not being short-sighted about this but like i feel like the winners have been
determined and it's clearly soul and eve and bitcoin is always gonna be bitcoin it's not
gonna go anywhere and like tezos and i've had this like a recent thing as well like
realization i don't know i don't know i don't know i don't know i don't know i don't know i don't know
i don't think we should the tezos people the community and the coin itself i don't think we
should aim to be a competitor for ethereum because that's what all there is like the
language on twitter it's like we've got so many so like millions of transactions per second
we're amazing we're fast reliable governance which eat folk do not like even the founders
are really a favor in favor of it i think we should play the alternative chain
we should work that to our advantage yeah i know we totally agree with you at plenty actually
why me and me and ajit and and even burned who's not here but we talk about this all the time
um yeah definitely not a competitor to eth at all um a co-chain a coach yeah i mean this
coaching thing no i think we should just like that should be the brand itself it's like look
we're not trying we know our the technology is superior
to ethereum that is like not it's not going to go anywhere it's better the contracts are more
efficient blah blah we have got all these amazing things but you guys have got all the liquidity and
pretty much all these daps that we don't have or have been discontinued on tezos you know so
the thing that we should play to our advantage is like we are the alternative chain we're not
we know what we are we're cool with it but we're also amazing
you know so like when i see everyone's like you know texas is better texas i'm like we know it is
you don't have to like scream it because the more someone says like we're better
the worst other person who's like clearly like got more cash from the chain to support is like
they've got like you know funds and stuff like that they've pretty much had like their entire
journey on it's almost you're kind of like talking down to them and vandalizing them in so many ways
and people don't like that i think that the brand that
tezos should run is like we are the alternative chain because so and so and so come and build with
us you know and that should be the main thing like don't don't bother what's like don't bother
bashing solana or ethereum or whatever you people we're people know the chains that they
use or hopefully they do like they're aware of their shortcomings the issue with tezos is despite
the partnerships despite all this like craziness that's kind of happening they don't know
what tezos is capable of because they don't want to know what it's capable of you know
and i think the thing we should be playing is we're alternative we can get the shit done
and come and build with us that should be the main thing we should be playing and like
and i think i've kind of like spoken to them about this like some time ago theo
the big problem here is like every project is either discontinued because
you know it's
not getting enough buzz or like there's like lack of faith or something has happened with the
foundation all these other stuff but that's like all we're trying to internal politics that we're
not aware of like we don't have the extent of the damage because we only see like hey i'm not doing
this i'm not doing that but i think like the thing we don't there has to be some kind of a cultural
shift for us to survive not just in the next bull market but the other bull market stuff's gonna
come and what many people are kind of scared of right now and the dms and stuff is like will tezos
survive despite its superior technology that's the big problem those are a lot more things that
people are kind of like probably one of the they're kind of like thinking about when they're
coming to tezos or like they've been with us for like three years or whatever um of course they'll
survive the chain yeah sure it will like it's not going anywhere
but as a community we're at the bottom yeah we're at the bottom yeah yeah like the the bottom vibes
here are like real with some people no i get what you're saying i get what you're saying and like
i've just been like thinking about it i'm like we've we know like i really hope you guys don't
think we're like the same as these like i really hope you don't think we're not like we're really
not the way i think about it
is right um you know everything other than bitcoin is punk right so ethereum is just like
your old school your classic your grandfather's punk right from you know 60s england but then
we're but tezos is like cyberpunk they're both punk and they're both cool right like you know
like they're just uh a little bit different in their own ways i mean
one's a little more niche than the other yeah you know okay to give you a perspective you know
what tezos is tezos is like that eighth grade nerd in high school with glasses pimples weird
haircuts suspenders and a lift that's what tezos is like oh he's rich now though that dude's rich
super mom sure but like we're talking eighth grade we'll still like baby stage here so
yeah
we're still very baby stage i mean anyone who's like not 24 is a child to me so
that's kind of is but like that's what tezos is and like ethereum is like
you know the cool dude who's an asshole but he's a cool dude you know so um just to kind of give a
perspective yes he'll be broke 30 years from now on but still um because pretty much there it is i
mean from the same time that we just went from like i mean i think i would have been turning
around to being like more of a purchasing person i mean you know i had a real head up
but there's probably more of a thinking about it because like i could have been like
a boys oh my god yeah i think i would have been more of a oversight user with like a
question time with like a math but like that's for another time but i do think we should
be the marketing and everything and the way we're even steering the community should
be more into the alternative kind of like
yeah direction i'll try that so yeah you like so that's the word you're you're you're
settling on alternative change yeah i'm just settling on that probably we could like spin
up just up a little bit but um yeah i'll try it i can tell i'm a little bit measured
by the way i see things yeah i really appreciate that because i've been doing a lot of marketing
it up a little bit but um yeah i'm comfortable with that i've even said that like in a group dm
as well just just the alternative alternative is fucking cool alternative is fucking punk
alternative is fucking amazing many of like the best writers the best musicians the best
scientists were fucking alternative um and then they came to the mainstream and they
lost their soul but you know that's you're not there um but i i think we should just
why not go with that for the moment i like it i don't think it's a bad idea i don't think it's
a bad idea i definitely want to drop the competitive thing um so i'm with you i'm just
like signing petitions left and right uh getting more people to sign tezos alternative change where
greatness happens um well that's how that's how it works right i mean
it's just it sucks because it's hard to do and it takes a long time but that is the grassroots
process you just talk to one person at a time and the space is right and you just kind of
keep doing that until hopefully enough people have paid attention and start spreading it
themselves um that's how we that's how we thought we birthed this damn chain right
but um yeah it's been nice talking to you guys and i'm gonna bounce because i'm definitely
excited um yeah i'll check in every once in a while to make sure everyone's okay but it's pretty
cool ajit plenty all of you folks thanks for listening to my weird rants about shit that
makes no sense but makes sense thanks for joining wise it was really nice to chat yeah
always a pleasure just have just like a coffee chat that's really good take care you should
keep doing these things yeah hey that's all these spaces need to be right uh
so you know what time it is now wise it's uh now wednesday instead of thursday same time so feel
free to pop in and yeah give us your rants you know tell us what's on your mind that's what we're
here for don't go to fucking spaces because i rant about this shit gotta keep it inside people
keep it inside all right i'm gonna go now have a good one bye bye
all right a sheet um what is your thoughts on um
alternative chain i know you mostly agree with the with the the tezos
the tezos not really being a competitor to eat what is your whole opinion on that
well it's actually true i mean i don't think tezos is projecting itself as a competitor
because we have seen some signs already right like starting from this dev we have seen
um the ethernet sorry etherlink right whatever it is so that was launched which um where the
primary focus that was announced is also building like an evm rollup so that means that um tezos and
yeah everybody understands that hey this this should not be uh we should not go away from the
away from the wave we should try to include in the wave that's happening because
there's a huge network effect um and they've almost captured like almost 80 percent a lot of market has
already been captured a lot of people are already into evm familiar with solidity and all this stuff
and yeah now it's so whatever now it's a phase where if something new has to be built from
grounds up it's not going to just happen in a in a day or two it's going to happen in a day or two
or in a month or two you know this this the new chain that's going to you know even though if it
has like a really great advantage it's not going to come up and go over ethereum because yeah
the scale the rate at which the people are using evm chains and the solidity is huge it's
it's massive so yeah we we should uh pay those or any other blockchain uh who's who's innovating
um should should just go with the wave try to um try to see how how to work together
um collaborate with uh other blockchains other ecosystems build products which is more
collaborative try to get liquidity from there um try to bring build solutions where you can
yeah you can easily um build things on on pesos
and you can build things on your own so yeah yeah so what i'm saying is you don't have to
start with the very little um like what with the very little uh um go ahead with a very little shift
yeah yeah so so all that is going in the right direction i would say and yeah it just needs like
more energy more um what they call okay we've we've heard one news in this devs that hey vm rollups are coming and then
then here and there it's just once in a month or once in two three weeks we just see something
coming up but yeah but something really massive something really impactful could be like a big
hackathon could be like a big hacker house could be like a big event you know something which
which is more physical and you know where people meet you know people move things or
such such sort of thing is really necessary especially in tezos this is what i feel
at this point of thing
yeah the mood's a bummer but why you know when it comes to it um the competitiveness with ethereum
um people have to realize that you know it's not like the ethereum devs made it hard to collaborate
everything on ethereum is open source for the most part um and so it's really easy to go
over there and if you have an idea you can there's probably already a similar idea on ethereum and
it's open source and you can go and go in there and get a jump start and you know launch that on
the blockchain of your choice and the biggest example here ajit is plenty right um plenty is
using uh uniswap v3 which is an ethereum blockchain uh product is it or not so
we took that code we tweaked it we made it to uh you know as a starting base to build plenty so
uh that right there is your biggest example um so there is there should be no competition it
should be all love right uh yeah i mean especially it we
we have to believe that right i mean we have the plenty bridge i mean that's one of the first
things that we we launched this year was the ability for people to go back and forth between
tezos and ethereum uh you know quickly and seamlessly without going through a centralized
exchange so um if you guys don't know about that uh you know just if you go on plenty.network
and scroll down a little bit everything's right there you'll see plenty bridge
and uh yeah you can you can just transfer funds back and forth as long as you have
a wallet on either chain obviously right so totally believe in that that like multi-chain
future right we talked about that a lot i feel like a lot of people stopped
i don't hear this word very often but multi-chain future uh all the chains will
interconnected in some way uh at least in in my opinion or at least uh it won't be about the chain
but it'll be about the product that you use so you'll have like a bunch of products on your phone
a bunch of apps on your phone let's say like plenty wallet uh and you'll just use it for
say the art or a game and or a social media it'll just be an app that you use and you'll have no
idea what blockchain it runs on you'll have no idea what blockchain it runs on you'll have no idea
don't care about that um that's what i i truly think the future is what do you what do you think
about that as you yeah anything can happen you're right could be like a multi-chain
where there is a seamless transfer of liquidity from one chain to other chain
that's definitely a possibility but i think if to to to reach that point we're still like
long long way um we still have to pass this uh this bearish market and then try to again see
the adoption coming in um all this bear market what happened was um people understood what
centralized exchanges are people got an education that hey okay crypto is there but you know using
this centralized exchanges is really bad especially with ftx fiasco and all other
things that happened bunch of uh companies in india are also closed um you know who are all
centralized so all these things happened across not just in india it's everywhere so so now now
if we see it's all like a decentralized payment systems that are coming up even in crypto so the
transformation is like slowly slowly happening along with it you know how do we
um yeah make the transaction speed really fast so this research is also happening properly
so all these things you know slowly will lead that you know a point will come where again we'll hit
that um like like the bull bull run where people will again start um creating apps everybody will
talk about crypto and all of a sudden then anything can happen could be like a multi-chain
thing could be like
um yeah one maybe five six chains which which lead the market or anything of such
that sort can happen which is like very far-fetched right now i would say to
um yeah to discuss and and predict but one thing that is for sure is i don't know teo if
uh if you know this news recently g20 summit happened in india where uh it's an interesting
um you know economic form right forum where people from all the politicians from different nations
come together and in 2023 it happened in india it's just uh just few days back i guess not even
just the last weekend if i'm right and i think last year i think it happened somewhere
every year it happens in a different country so yeah there was also like a
lot of good news actually yeah hold on you gotta i got it pulled up on my youtube this is the first
i've ever heard of g20 there's a goddamn olympic for politicians and world leaders this is world
leader olympics it happens in india it happens in a different country every year and what i i
had never knew that this was a thing this is oh my god we do live in a we live in a
like oh real life is weird okay keep going keep going but what's the good
yeah it's not good news really but what is for sure is
the news that that that has that has come out regarding crypto especially for india and from
indian prime ministers and it's just not not indian prime minister from the indian finance
you know finance department finance government um you know government handling the finance uh stuff
and also from the other countries the major i mean the news that i saw is um
everybody is is following different policies and different regulations with
respective crypto different countries are following different different rules
different different regulations and it's like um chaos and bits and pieces right now
but there is one talk that has come out that hey like you know it needs to be like a global global
something that needs to be worked together across different nations and
and i also i was reading all these articles what came out of crypto and all
the clear thing is that they don't want to like sort of outrightly reject crypto that is for sure
they're all looking at it in a positive way and at the same time
they're not outrightly rejecting and at the same time they are not
looking at it as hey let's use bitcoin as a legal tender so that's also not the sentiment
out there so that but but they know that you know there is some value of this uh you know
for this blockchain space for this technology and just like trying to think and consolidate
um how can how can it be straight how can um what sort of regulations needs to be put in
so so it's in that phase which is which is still i think a positive news right like they are at
least not in the negative phase where hey let's just ban crypto someone um if some if i hear if
government here someone saying crypto then i'm gonna go um all all in on him and uh and make
him not use crypto and all this stuff so that's not the situation at least so so i'm happy in
that in that way you know something is
is going on but it might not be going on at a faster pace but it's at least not on a negative
spiral or a negative thing so it's it's a good news right oh that's good oh that's good at least
yeah it is good news i really want to be pessimistic about it but it is good news
you're right
oh uh no it's okay i was gonna say i i wanted to be pessimistic
uh because we're talking about world leaders but yeah you're right it is
uh good news for crypto and then i also wanted to uh welcome everybody who who's popping in
uh welcome everybody it's a community call feel free to come up if you wish
uh kevin we're talking about uh g20 just discovering this is a thing uh the olympics
of world leaders apparently uh oh i just lost the g is he still there oh no he's rocking oh no
oh well we don't have to go too much longer in the space anyway kevin what's going on man
tezos is the olympics of world leaders oh that was such a good line
that was good i'm writing that down as a quote thank you
we got we got a tezos on metamask now
um oh wait no tell me more really yes so for one thing first of all it's good
for all the tezos wallets because just like uh coinbase is good for every wallet in that it's an
entry point so people who need to get their feet wet they they can start off on something that's
like where they are you know they are on coinbase or they are on metamask just like they are on
trust wallet and then it's like okay you can do all the tezos stuff here too and then once they
realize they like it then they graduate to the olympics of world leaders just like they are on
the tezos stuff here too and then once they realize they like it then they graduate to the
themselves over to like a tesla's native wallet so so for one thing it's good for everybody but
it's also like um i think i think it also just changes people's mindset as well the like for
people who thought very like uh just like divisive about ecosystems when really it just came down to
i don't want to leave my metamask so much of like the complexity they put into like why they don't
want to have multiple ecosystems just came down to i want to do everything through my metamask
whether they admit it or not but what now that they can at least even see the fact that like
no you can just do it through there now it like it completely changes the way of looking at things
it completely changes all of that stonewalling and standoffishness i think for so many that they
had before so um and for for so many that's like oh well then all this stuff is just equal now
like they don't they don't see any division at all
um so that's what's what's a good thing about this um in the way that i think um
even even like when trust wallet and then some other multi-chain wallets are around i mean we
always had like air gap as a multi-chain wallet but it's not it's not quite the same like there's
something about having the far above and beyond uh market leader owning uh or having a version
of this that i think is good so trillitech was the developer on that and which is weird
because then someone from trillitech said like oh good job to air gap for making this it's like
wait what are you talking about it says literally in the actual listing for it trillitech was the
developer so i'm still trying to figure that out um yeah but let me put it in the nest yeah so
there's that that's amazing and yeah i couldn't tell you who made it or what what the deal is
with any of that
um so if like maybe one party made it but the other deployed it that's the thing that happens
sometimes too for whatever reason if people needed to know that just like trillitech just
as like a more of kind of a seal of um you know validation for it like oh trillitech well
they're good um maybe that's a reason i don't know well regardless
so how does it work uh have you tried it out like so nope there's on metamask what does that mean
uh so well metamask has these things called snaps which basically just mean like little
plug-in apps that you put in just like you have your browser extensions which you know
ironically that's what metamask is um or you have just like an app store for something or
or you have little channels you get for your streaming box um they have snaps snaps are things
you put in your app store and then you put it in your app store and then you put it in your app store
install into your metamask wallet and that enables you to do uh all kinds of things that
developers independent developers create and submit to that snap library just like a just
like an app directory um without metamask having to you know build it themselves um or even
necessarily inherit that liability so which is also why you know they they call it a beta
it's an open beta it's not um these are not like
metamask apps um but yeah you for all intents and purposes you can you can use it which i think is uh
it's definitely a step up if you ever tried to like add a network to metamask
the old way like the manual way which i guess you still do for for certain instances um it's not
it's not a big deal if you know what you're doing and you're used to this kind of stuff but that's
almost nobody for most everybody like you you tell people to like go into like add a network
and then you're putting in all these weird numbers and you have to make sure those numbers are right
and then you do another thing to get it going and then you switch back and forth like it's just too
weird nobody wants that like it's not it's not a nice experience so this way it's like just any
app oh yeah i search for the app boom there it is install there it is it's done um so it takes away
all that friction so it's in a nice smooth way that people can enjoy um but i think we'll start
meeting a lot of people and i think we'll start meeting a lot of people and i think we'll start
people in tesla spaces coming up where they they'll start saying things like like oh yeah i wasn't
sure and then there was like the tesla swallow metamask so i tried it out like that'll be the
start of their story well so we're going to start to see that pretty soon interesting i wonder is
that why we see i have been seeing a lot of what should be east spaces now having tesla center title
is this why
uh just you know really for that like this just came out so okay okay yeah
those are people who just they've just moved and it's a great idea
yeah this is a great idea and i'm gonna look into it this is the first i've ever heard of it
um but if this technology is possible i wonder if it's possible to reverse the technology so that
you can add like ethereum to your to your plenty wallet like
i wonder i wonder if we could do something with this i'm gonna look into this technically
it could right i mean if you could like the roll-up would work both ways you have something
pushing to eth network that's making calls from tezos i mean you could there's no reason why you
couldn't um i mean i think it's like these kinds of things are opportunities for i don't know like
like plenty like make a make a plenty wallet on just to have it like plenty express
and then it's like oh shit now i want to get the full version um something to like be a sampler for
like a greater thing that's more specialized because there's always like a massive market
for specialization that's the reason why like oh that's a good yeah oh good point man that's a
good really good point that's smart like roku people felt oh they're gonna get their ass kicked
once like the new apple tv comes out and then they have amazon fire stick and you know google chromecast
and all those things it's like no roku is like above and beyond number one they stayed that way
if anything the like the push from those larger electronics consumer electronic conglomerates
helped them and they were never able to get anywhere near as good of the user experience
or the performance because they weren't specialized in it it doesn't matter how
great you are in general you know when you're special talk about how good sorry can we just
talk about how good roku is right now so good it has it
now has a continue watching section for like on my roku home page so i got all my favorite shows
from like all my different apps just like right there in my continue watching yeah it's like
it's so dope like i thank you yeah who is is they figure it out like you know you use it and
it's like yeah this is so obvious but then it's like you try anything else and it's like why
didn't why haven't they have been able to figure it out why do they all try like weird ux's and
just to not be roku
or they just not have it understood but it's like when you have a company where the whole culture of
it is specializing in this ecosystem and your whole leadership and management and product
direction and your strategy it's all around like this growing intelligence of what this market what
this segment of user wants and needs and how that's changing and will change and you build for
that like of course you're going to end up better like it's very hard to stay current if that's not
the only way you're going to be able to do that and i think that's a really important point
and i think that's a really important point
thing you do um like you could you could be like an apple even or google or whatever and you you
can say all right we're going to just throw as much money as we have at it um like you can't pay
a strategic like creative manager to be better creative you can't pay them doesn't matter how
much money you have you can't get them to like obsess over it day and night with a whole bunch
of other people who are obsessed over it day and night until they just keep like exploring and
exploring and trying stuff out and then you're like oh my god i'm gonna be like i'm gonna be like
oh my god i'm gonna be like i'm gonna be like i'm gonna be like i'm gonna be like i'm gonna be like
out and then they they move into the areas of ideas that are just far beyond like what anyone
else would have come to and then they implement them like you can't there's a limit to how much
like having a bigger brand presence and uh having more money will get you so yeah these big kinds of
things like metamask like that just opens the door it makes people curious about
like the specialized wallets on that chain
um so with with that growing these things grow yeah
it's good be interesting to see what happens we're dope yeah thank you kevin uh as you get back up
here um talking about uh tezos on metamask and kevin gave me a gave us a dope idea for
we got to get plenty like a plenty light uh launched on there as soon as possible so that
way we can get people on boarded onto the floor and we can get people on boarded onto the floor
wallet uh so i don't know if you've seen anything about this so definitely get back up here and uh
yeah we'll we'll keep the conversation going for a little bit i don't um kevin feel free open floor
it's just 2 16 in the morning for me so yeah you gotta i gotta close it at some point what else is
on your mind today we're finishing up i know i always say this the review or like the report
uh tez finn i'm hoping by next week it's done um but we and we're already putting together the
the launch of the new version for the production scale um and we're deciding like what would be
the first pools to put out for the production version so tez obviously um and we're and we'll
have and then uh usd tez and usdt like because these are reserved back coins we don't want to
put too many coins out just for the first
few days or whatever so we can just show like liquidity piling up um and then we're debating
whether or not to put ctes out right out of the gate we really want to but at the same time it's
like um yeah it they're they're kind of roundabout ways in which we had to do the oracle tracking for
it so um i think still testing that out and like once everything else like we yeah we're so we're
still making sure on that um it's an interesting animal
ctes uh yeah yeah so we'll we'll see how that how that pans out and and also the economics will
change once the uh the you better get it out if you want burn for like you're in those saturday
spaces oh yeah well i mean it's not it's not anyone's like we need a what we really need
what everyone needs is an upgrade to ctes uh because we need views uh on it we don't have
views on the current implementation ctes um and then so there's different talk and then at the
same time it's like well if we're going to do that then maybe uh an upgraded like even a different
and more dynamic um uh like a standard type but then it's like well which one should it be
is two point is version is fa2 good enough no we should probably go for 2.1 if we're going to do
that or two three and that way or three version three that way we could think of it in terms of
like what could go on l1 and l2 and just be future proof in that regard as opposed to having
to deploy a new contract and a new and a bridge to that so but then like those standards aren't
necessarily ready so we're kind of between a rock and a hard place just all of us are
in tesla's with regard to ctes so hopefully i think this will this will push for this will lead
to more um uh development on that front or well yeah that's interesting uh hold on let me ask uh
ajit here um ajit what what do we know of ctes obviously
i know that uh we we run it now right uh we took it over um is there any plans that you know of
for updates and stuff i mean not specifically like we are managing the front end of ctes
um one i mean the entire front end is built by the plenty labs plenty team itself um one thing
that i that we have to do is we have to do is we have to do is we have to do is we have to do
a roadmap is to is to revamp revamp the the user interface um make it more user friendly
and make it in such a way that more um yeah like not so tech savvy people or not
not so tech savvy people can also understand create once mint
ctes you know all these things should be much more um
yeah can be made better can be improvised so those were there the ux enhancements were there
the roadmap but we haven't uh like sort of prioritized it and picked it up but otherwise
it's yeah that's what it is i mean like the i mean i feel like there there is enough ctes in
production and ultimately i mean people will make it if they want to make it like despite
whatever the user experience the issue is like the contract itself is outdated
um and it's not the fault of like the deployment of it or bender when they deployed it
um it was like there were no views on tezos when ctes first came out um that was still a couple
months away a couple like it was but after the next upgrade views came into the picture
so yeah that's what we did but um yeah so now it's like really hard so to put it in perspective
it's like well what's the problem so what if it doesn't have this use thing well
for what we need is an oracle tracker to put ctes into a lending pool and without views it's not
really easy to do oracle tracking because the views would serve as that the marker for for
what the price of it is um but so what we had to do was make our own oracle for it and just go
through the contract and just very uh like really kind of a like stick shift on this
um the problem with it is that like the like tracking it means we have to keep making calls
like and and to ctes to just or to the network to find out what the latest is and if you want
to do it right and like free from exploit it has to be every block um so and doing it every block
we calculated the gas on that for for every time we do it it's it's marginal but it adds up to
about like with this price of tez about five percent of the time we do it it's marginal
five thousand dollars a year so we don't want to pay five thousand dollars a year just because
there's no views on this contract um so it would be better plus anyone who wants to do it would
have to do the same thing so it's like it's just so much better at this point since it's early since
we haven't scaled it like we can name every single platform and every wallet client that facilitates
ctes it's not that big of an ecosystem where you have all this loose ctes going around um and we
can say let everyone know hey okay there's a there's a ctes 2.0 now everyone should migrate
like let's do this um and then i think it could happen so but like and we can take advantage of
that luxury that we're smaller now that's what's great the best part about being smaller it's that
you're more nimble that you can adapt and change you don't have these big heavy pieces of machinery
so much uh that that you know are sensitive so i think it's worth exploring i think the last point
we left on that call was that we're not going to be able to do it right now we're going to have to
wait and see what happens with the oxford upgrade um to to see how that's going to change the
dynamic of staking um and whether people will have the same amount of interest in yeah that's
fair yeah yeah yeah yeah so yeah you know as you explain um so ctes
just for everybody to get their heads wrapped around it it's wrapped tes right sorry i i said
the word twice there it's wrapped it's wrapped tesos right just in a nutshell um is there any
more to it than that would you say yeah i mean let's let's i mean we should maybe let's keep it
simple that way you know ctes um yeah there's a little bit more to it like you know what we could
do in layman terms um how ctes the synthetic test would be helpful is if you if you try to use ctes
right then um when you use it in d5 um you can choose the baker like for example if if you have
this right now and uh and if you put that put your liquidity in in any of the protocols um
then the protocol that uh that you have put in your test
you know they'll have they can use your test to to to earn the the baking rewards right so
uh now now you can delegate um you know if you have to with with ctes like you can choose the
choose your uh uh choose who you want to delegate to so that's uh yeah that's an advantage that's
the main
thing where ctes has come into picture where you have more more control over your test
right that's the main yeah i think that's a brief yeah but you're right kevin i think there is
whatever updates you said needs to be done but yeah it's yes it's all about the priorities right
now and um well that was going to be my next question right why why is uh you know why is rap
zos important from your homepage to your advantage to take some background on how you can bring your
your ecosystem together but also i think more opportunityosters you guys to look more at the
overall world and build your body and work with some companies
uh but um why is uh important on for like the bigger picture right um so we hear about ctes a lot
and how it's integrated into a lot of things um so what is the bigger picture importance of rap
tezos and kevin you can you can jump in on this too if you want yeah well like um so the idea was
Because like a wrapped token, like a wrapped currency, like that really started, most people remember, with WETH, W-E-T-H on Ethereum.
And the reason to have that as a token as opposed to just regular ETH is that like ETH itself does not, it's not the token, same as the token standards of like the ERC-20 tokens.
Like all the tokens that you know, that people trade, all those fungible tokens, because it's a native asset to Ethereum.
It's not, it goes by its own rules.
It's native to the protocol.
It doesn't conform to this standard like file type effectively that was created later on for developers to have these things called the ERC-20 tokens.
So in effect, it wrapped it, it put a wrapper around it to make it, to retrofit it for that.
Standard.
That's, that was the whole point of it.
And so with that, it's like more developer friendly and all that kind of stuff.
With Tez, like Tez, yeah, it didn't conform to the FA-1-2 standard, but actually that wasn't so big of a deal.
In fact, developers, they found it really easy to integrate Tez, despite the fact of it not integrating with the FA-1-2 standard that, or any token standard that we knew.
So that, there wasn't, that wasn't like the big impact.
I think part of it, the reason why C-Tez came to be, like part of it, I mean, there are a few reasons of like the why and when, but there was a different question that came about, which is Tez is not what like Ethereum was at the time, which was just this kind of static instrument.
No, it's something that stakes.
You have a liquid staking in your wallet.
Even if you're not doing anything with your Tez, it will bring you money just by staking it.
Right.
But if you put it in DeFi, like in a liquid staking, it will bring you money just by staking it.
If you put it in a liquidity pool or a lending pool or something like that, or in a yield farm, well, then you're moving it away from your wallet.
So you're not staking it anymore.
So who is staking it?
Well, maybe the contract that you deposited that money to in the DeFi contract, that whatever dApp you're using, maybe they have a baker that they assign it to.
Maybe that's not the baker of your choice, as Anjou was saying, like you don't have control over what baker.
Maybe they're not baking at all.
And if they are, though, like, are you getting that reward?
Or are they keeping that reward?
Neither is good or bad.
I mean, it really depends.
But these are a lot of kind of unanswered questions.
And it makes it like these questions keep coming up every time somebody would put Tez into anything DeFi.
So the idea with C-Tez is, OK, take your Tez and go to the C-Tez app.
And then you put it in an oven.
Set it to whatever baker you want.
And it's locked in there.
And you take out as much, like the same amount of C-Tez.
Equivalent to the amount of Tez that you put down.
You want to get your Tez back?
Return the C-Tez.
So it's like your little receipt for the Tez that you put down.
And it kind of means the same thing.
So that's basically how it operated.
And that way, if everyone takes all the C-Tez put together and then they're using that in DeFi as opposed to Tez directly, well, then we don't have those questions anymore.
It doesn't matter who's baking.
Nobody's baking it.
It's C-Tez.
It's just a...
It's baking on those...
Like the collateral token is baking on the ovens in the C-Tez protocol.
Not...
The DeFi has nothing to do with it.
Rewards?
No, there are no rewards with it.
It's C-Tez.
That's what it is.
So it creates this proxy and this layer of separation so that it's a very neutral instrument that fits for like DeFi fungible token trading without having to involve that whole question into the process of staking.
So that's what like the goal of C-Tez really is.
And there were...
I mean, there were different approaches to this.
I still go back and forth on it.
I think maybe it was good having just direct Tez because of the different creative ways people were coming up with to answer those questions.
I'm still a really big fan of what KipuSwap did initially.
And I think they phased it out after C-Tez came into the picture.
But they said, okay, for every pool...
...that people put Tez into, those people who added liquidity, they can vote on the baker.
Just vote on the baker.
And then whoever wins the vote, like that's the baker.
And then everyone abides to it.
It added this process of on-chain governance and consensus to who would be baking the pool.
Is that the best way of doing it?
It wasn't perfect.
There were problems that emerged, sure.
And they were iterating on those problems.
And maybe there are other more interesting dynamic ideas that can come from that or related.
But it was really interesting.
I mean, it was a really great contribution, I think, to not just to Tezos, but to the overall blockchain ecosystem, to even to Ethereum.
Like in years before they had proof of stake at all.
Like, look at this way you can answer this question.
Like, it's a very interesting new question for proof of stake that was coming to be answered in a cool and creative way.
But now we're all kind of yielding to the C-Tez standard.
All I would say on that is, for one thing also,
like, we need to get off, like, all the exchanges need to stop saying C-Tez slash USD whatever or something.
Like, the whole point is that the C-Tez should be invisible.
People should only be seeing XTZ.
They should only be seeing Tez.
And then what happens under the hood, sure, it swaps for C-Tez and all of that.
But, like, newcomers, they have no idea what C-Tez is.
And they shouldn't really have to care if you're a newcomer.
All it does is really alienate people from the DEXs.
Because they have no idea.
Like, we're just talking to the internal chorus of Tezos.
And we're not thinking about most people.
So, yeah, I've been telling all the exchanges that.
It's like, we need to just not, unless there's a very specific reason and you're representing that along with Tez,
then there's no sense to have C-Tez displayed at all.
Same thing with WTZ and other alternatives to it.
It's just, it doesn't make any sense.
Like, because Weth was the same way.
Like, it was just something that happened under the hood.
You go to any exchange and you're trading ETH.
Even if, like, it swaps it on the back end for Weth, that doesn't concern you as a user.
You're just seeing ETH.
Because that's the world you know and you shouldn't have to know anything else.
Interesting.
That's a very good explanation of what it is.
But also a lot to take in for me and Ajit.
I did write these notes down, Kevin.
And feel free.
To come back.
Probably, maybe not this Saturday.
We could try this Saturday.
This Saturday we're going to be breaking down Plenty V3 for most of the space.
But yeah, come back so we can talk to Bernd.
We'll catch Bernd in the space and we'll talk to him.
Because I wonder, like, what would be the amount of effort needed or required to update the contract itself.
I wonder what would go behind that.
In the meantime, I see.
Ajit just rugged again.
So this is a good opportunity for me now that it's 2.30.
We're going to wrap up the space here.
Yeah, yeah, yeah.
But before we do that, before we do that, I do appreciate you coming, Kevin, and talking to us about this stuff.
That's very interesting.
I don't really.
I know I work for Plenty, so I don't really have to keep too much of an eye on CTES.
So I never really do.
And I have been largely out of DeFi.
So it's been interesting to talk about this stuff.
So thank you.
Oh, I appreciate you.
And don't worry.
We'll have.
I'm planning a whole ton of DeFi spaces coming up.
Timing with the launch of the production version of Tezfin.
So a lot to discuss.
A lot of little parts.
And I want to create some kind of visual guides for things.
I want to do more of that.
So lots of fun.
Lots of fun stuff.
Awesome.
Let us know.
Keep us updated on when those space times are.
So, you know, someone from Plenty can try to be there.
And, yeah, yeah, it would be awesome, man.
Be excited to see what you launch.
So good luck.
And, yeah, we'll talk to you soon, man.
Goodbye now.
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