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The BTCfi Super Dex is Here | Core x Molten Finance 🔶
Recorded: July 24, 2025 Duration: 0:59:09Space Recording
Short Summary
Molten Finance has launched as a pivotal liquidity hub for Bitcoin DeFi, promising to enhance user experience and yield opportunities while fostering growth and collaboration within the Core ecosystem.
Full Transcription
Thank you. Thank you. hello hello everybody i think we're waiting on one more speaker and uh we'll wait for some more
guests to populate the space here before we start.
I don't want anybody to miss out on this, but just stay tight.
We'll start it in just a couple of minutes.
Be ready. Thank you. All right, all right. We got all the speakers on stage now we got a ton of people in the audience
i think we're ready to go all right for those of you who don't know for those of you who've been
living under a rock molten finance dropped yesterday they are the liquidity aggregator the liquidity hub of bitcoin defy
um from a user perspective myself i am so excited i you know i'm done with going between 10 different
indexes to find my token i'm done trying to swap one bitcoin token to the next not finding a route
i'm done paying 10 20 slippage when trying to trade Bitcoin-pegged assets.
That's all a thing in the past now.
Bitcoin DeFi can finally scale.
We have the liquidity layer.
We got two members of the Molten team with us today.
Fellas, maybe come unmute the mics, talk about yourselves a little bit,
then give us the technical breakdown of what Molten is.
Hey, Dylan.
It's Justin.
I'm one of the founders.
I'm super excited to be here.
First of all, it's my official,
my first official cherry popping of AMAs
in the core ecosystem.
I know everyone well.
I'm happy to be here together with Ehor.
I've been around in the space for a few years,
started in comms, worked with sexes, indexes, NL1s, and then landed myself at the Bitflux team,
took on some early contribution roles there as well, and that evolved into leading Molten to
what it is today. I'm excited that with some very small steps,
but some very pivotal ones, things are looking good.
You know, no breaks, no bugs.
We've done a lot of prep to make things smooth.
And thank you for the kind introduction.
I'll pass the mic to Jero.
Jeroen Jeroenovicuva
Hey, everyone.
Why am here?
Like, maybe you already know me from previous AMA session
that we had um so quick intro I was uh from the you know day one of b-flex and leading
b-flex to towards uh bigger success and right now we are glad to launch molten
um so in personally from you know from for my background i'm in crypto from
almost like eight eight or nine years and uh we have been building on you know sexes l1s some
startups wallets some dexes as well so yeah there is a lot of that. So, yeah.
Yeah, yeah.
If you guys have been paying attention to Core for a while,
you should know YM.
He's an OG.
And if you notice, they both said Bitflux.
So, I want to get into that right away.
How Molten actually combines two of the biggest dApps on Core into one.
Bitflux and then Glyph Exchange, which, you know, if you guys are Core coaches, you guys know both those names, you guys know both
those dApps.
So I'll let you guys talk a little bit about, you know, how did this idea even happen?
You know, you guys reached out to Kai from Glyph.
How did it all go down?
I don't know.
Give me like the behind the scenes.
Sure.
Yeah.
I mean, you already, you know uh gave us a good intro
mentioned the liquidity layer um bitflux been around for a while glyphos too they're two cool
two cool products um and they had their like you know positive sides and negative is a big word but
sides which could be optimized so let's say Bitflux had curve style depth and pools,
and there was also quite a solid liquidity,
but it's not super flexible as Glyph was,
Glyph having volatile options as well.
Glyph obviously has a super cool interface.
There are slightly more users.
So you mentioned the word combination.
I think the best way to put it was just combine the best of both worlds.
As a user, just because I think that's one of the most important perspectives.
Before I just go off on a tangent, can I just check?
Can you guys hear me?
Yeah, yeah.
Don't worry.
You're not wrong.
Okay, cool.
And what do we call you, man, behind the mold in the can?
You got a first name or Justin? all right yeah yeah justin didn't want
i didn't want to leak it i might i might have popped that out too soon but yeah it was it was
justin all right perfect so yeah like just being in the space as a user i've always been fascinated
since let's say the bitcoin white white paper inception which was definitely before my time because I didn't join until like 2015, right?
But ever since then,
I've been quite fascinated with user-friendliness
and then just not creating this
supposedly superior technical product,
which is obviously very important,
but focusing more on making it user-friendly, right?
And making sure you can onboard.
Let's say we take that hyperbole of the 1 billion users.
You take that as an example of creating something
which is user-friendly,
whether that's users who want to trade memes,
whether the interface is friendly,
whether the swaps are super fast,
they have low slippage,
there's no impermanent loss.
We're trying to combine all these things together.
So that was the idea. And we had a lot of brainstorming behind the scenes of what that
would look like, one of which was the name, right? Why Molten? Well, because ultimately,
if Bitcoin is a trillion dollar asset, there's going to be a huge amount of liquidity. May not
be tomorrow, may not be next year, may not be next year, it may not be this cycle, right?
Hopefully it is, but it's more likely that it'll take time.
And we're not in a rush
because we're here for the long-term build,
but Molten, I think, is a very good reference
to a very, very liquid ecosystem
and then unfathomable amounts of liquidity
that can enter the space.
And I think that's what we're going to go to towards,
whether it's LST, BTC coming around the corner liquidity that can enter the space. I think that's what we're going to go to towards, you know,
whether it's LST, BTC coming around the corner in the core ecosystem, or us just having a platform
which serves retail as well as institutionals, because there's huge depth and a really great
user experience. Now, maybe Eir can add on to that as well.
Everything was clear.
Everything was crystal clear as always.
It just, to add on that front, it's just, it was inevitable to, you know, to become something bigger.
And this is where we are. You know, we had a lot of conversations and people were asking like
are we thinking like to launch like v3 stuff or like um Glyph maybe moving to something and
I think we finally found a great solution where we just combined it combined like two of these roles
and just providing like the best use cases and the best trading space for users and specifically on BTCFi and we're glad that
it's on core. Yeah, yeah, no, couldn't have said it better myself and on the UX front, yeah, you know,
I try to get my friends on a Bitcoin DeFi and I'm like, oh yeah, you got to use Glyph over here to
swap regular tokens and then if you want to swap Bitcoin tokens, you got to use Bitflux. And then they're like,
why am I losing money swap? And I'm like, oh my God, somebody's got to fix this before we get
the influx of millions of users and all this liquidity that we know is coming from Bitcoin
DeFi. And just a little tangent, YM, you said you've been in the space since I've been in diapers,
basically. How would you end up in the space since I've been in diapers basically.
How would you end up in the Bitcoin DeFi space?
Is that where you see everything going?
You got the experience where I feel like you could probably...
You've been around for a couple of cycles.
I think you can probably see where this is heading.
I've started from Bitcoin itself and after that I saw DeFi.
So I blended in DeFi right after understanding what is BTC overall.
And in that way, I was just thinking most of the time it's just, yeah, but like why, you know, there is nothing for BTC for like for years.
And in that way, it was just, you know, understandable why I should go there because I was thinking about, you know, something should be there, but I didn't have enough knowledge to, you know, to stay or find something great.
And in that way, there were a lot of, you know, sort of bit C layers that we're deploying and even in, I think, 2020, but it wasn't really, you know, let's say mature enough, a score right now.
you know, let's say mature enough, a score right now.
And in that way, it didn't work well for like for the whole ecosystem.
And this is why it wasn't really like popped up in the minutes.
In the minutes.
And there were a lot of, you know, rumors that maybe BTC is, you know, falling apart or anything else.
And that Ethereum is like killer of BTC.
Right now, I think for this cycle
and maybe for the previous one,
you never even heard about that maybe.
That no one is right now saying
that Ethereum is killer of BTC.
Now people starting to think
that maybe BTC5 will kill the DeFi itself
and become DeFi as the name of the whole DeFi,
you know, start the name of the whole defy you know start of bc bc fine so it was just
inevitable for me to to land here yeah yeah you know i remember people talking about that too
like eth being the bitcoin killer and now all these years later it's it's pretty obvious that
bitcoin has won the uh the money debate the money war So now people are starting to realize, huh, okay, like,
clearly Bitcoin's won the money war. So what would I rather use in DeFi? Probably Bitcoin.
I'd probably have a DeFi ecosystem somewhat secured by Bitcoin. So yeah, it's, and I don't
think people realize how early Bitcoin DeFi is. I mean, Core is like two years old. We just had
ruins and ordinals like not long ago. Like is early early days um so yeah i'm glad now
that we have molten just so we could finally you know have this platform where we can really scale
the defi layer without having millions of users coming in being like oh it's all fragmented
everything so it's huge and yeah let's just talk more about the key features that are live
at launch right now you got a hybrid amm right different pools
swaps available give us the break down what's what's live right now
yeah i mean you already you know intro that yourself so we've got uh stable swaps you provide
liquidity um and then what you mentioned about fragmentation is also super important.
If we're going to stack Legos on top of each other,
add complex DeFi elements, options, or perpetuals,
these are conversations that are happening at the moment, right?
And technical peeps on our team who are way, way smarter than I am
are going
to facilitate that infrastructure. Now, until then, it's your ability to swap, you can provide
liquidity. It's v3. So it matches what Uniswap offers on v3. It's more capital efficient, but
you need to be a little bit entrenched
in what the consequences are for your LP.
But besides that, expect more pools to be added
and a wide variety of products to be added over the next two months, let's say.
Yeah, I'm sure you have some stuff to add here as well.
Yeah, just right now the situation is we're still building. most of the time, every time when I'm joining these calls, I mean, AMA sessions, every time we are building something and finally, you know, we're sort of deploying something.
And in that way, it just, there is a lot of stuff that is already like cooking and we will launch as uh justin said maybe in the next several
months uh there's just so much going on and uh you will see that it it's just the the situation for us
uh we're trying to build everything that it would be just impossible not to know about molten or not
to use molten so if you're in DeFi, BitCFi space,
you'll definitely interact with Molten at one point,
earlier or later, but it will happen.
Damn, so there's gonna be more features
coming within the next couple months.
I did not even know that.
I'm already happy with how it is right now,
but shoot, okay, I'll take more features, why not?
I'm down. Yeah, it's just now, but shoot, okay, I'll take more features, why not? I'm down.
Yeah, it's just we are trying to optimize everything more, you know, it will be even smoother, even better from a UI perspective.
We are trying to improve UI most of the time, but there is just too much on our plate that we are trying just to, you know, move forward.
And it's just there is much more going on.
Right, right. Keep sticking with it.
And as a fan of Bitflux, I hope maybe we can get some tournaments going on on Molten as well.
Just throwing that out there. We'll see.
And then you were talking a little bit about the different V3 style swaps.
How, you know, it's more volatile and more risky.
But I want to talk about the stable swaps from a liquidity provider perspective because i know there's a ton of people who
want to provide liquidity with bitcoin but nobody wants to lose their bitcoin if you have bitcoin
the one goal is don't lose it so now with these stable swaps on uh what's called molten not not
biflux anymore molten you can provide liquidity and you don't really have to worry about impermanent loss since they're all Bitcoin based tokens.
It's like Curve where they're all going up and down basically around the same rate.
So that's huge for someone like me that wants to earn a little more yield on their Bitcoin by providing liquidity.
But I'm not touching anything that could cause some impermanent loss.
So yeah, that's massive just for more yield opportunities on core.
I mean, I'm excited for that.
Yeah, even like, you know, stable AMM and like, you know,
just stable as the product was very important for us
because personally I've suffered too much impermanent loss in my life,
in my career in this space.
And it's just how it happens and why there is almost nothing on impermanent loss and slippage.
There is mathematical...
Let me come back for you for a second so when you're trying
to provide liquidity on the stable swaps uh you're providing sort of like mathematical amount
rather than just you know lp amount uh that you're creating the power of two tokens and after that
providing this liquidity it's either coming towards mathematical amount and this is why even when pools are imbalanced and you're thinking
oh there is a let's say one asset or let's say call it btc x uh so btc one will be let's say
uh two million dollars in uh in the first pool in the in this pool but in the first asset will
have like two million and in in another btc we'll have like 2 million. In another BTC, we will have like 20 million.
So there is a huge, almost like, yeah, it's 10 times difference between amount in the assets.
But still we are providing, because of huge air coefficient, people can use that and trade
almost without any
permanent loss, any slippage.
And you're swapping like, let's say one BTC for another BTC.
And even it's imbalanced for like 10 times, you're still getting the same
amount in both sides.
So and why it's happening?
Because of mathematical standpoint here.
It's just even when you're providing liquidity, you can provide only one asset.
So there is a single asset liquidity provision that helps you to provide that
and not care about impermanent loss because it's just impossible to get one
because you're providing one asset and it's just locked as
amount of btc it could be in another asset that you've so for example you put btc1 um and it will be let's say someone swapped all btc1 for btc2 btc2 still works the same as btc1 you know and
you're just uh withdrawing the same btc2 but uh, you know, all the, you know,
easiness of stable swaps
and in that way
it's just much easier for you
and you're not losing anything.
Right, it's also just so much easier
where for the V3 style,
you know, you got to choose
your minimum and your maximum,
you got to stay in range.
For the stable swaps,
you just input an amount,
you own a percentage of the pool
simple as that so yeah i'm definitely a big fan of that uh you know what's that justin
no i was just gonna add that when when why i talked about like impermanent loss i remember
huge huge impermanent loss because in 2017 there was like these pancake swap forks with crazy APYs,
APRs where you provide liquidity. I think the whole goal back then, if I think about it,
was to be value extracted, right, for the user because depending on the amount of liquidity in
the pool, the APR would go up or down, but it was an interesting experience. Obviously, they were trying to just leverage market momentum.
So users who, even at the time of, you know, I guess a different ecosystem, different mechanism with anchor protocol offering 20% on stables on like, you know, a protocol that wasn't feasible and wasn't sustainable.
You know, we were taking the opposite approach.
So that amplification coefficient
or the maths behind the stable swap
is what we implemented,
what I quite like,
because it's so mathematically complex,
but it's very simple for the user
because it doesn't have to think about anything.
And I think it goes to show
how we're really building for the long term
because ultimately,
if you don't um make sure that the
user has a great experience there's way too much competition out there you know to be distracted
away from you so i just wanted to add that on that coming from that the space so many years ago
uh in a value extractive i was just experimenting um you know providing a liquidity situation, coming to building a protocol that is really, you know,
net positive, adding value,
can be a positive sum game for users.
I think that's something cool, you know.
Right, we've come a long way.
Glad we've gotten to this point
before all the normies start flooding in.
Glad we've got past that.
So then, yeah, also we've been talking
about how molten is like this liquidity layer kind of underpinning all bitcoin defy so let's
just talk a little about how it fits into the broader bitcoin defy stack on core like if
someone's a user and they want to you know they want to do perps trades or they want to
lend out their bitcoin like explain to the people
how molten is kind of a part of all the different dApps on core no matter really what you're trying
to do i i can go on that front you know just if you started speaking about like uh let's take a
system of course ecosystem just inevitable to for users to interact with
dexes and these are the best opportunity for you to find the proper decks is just to have only one
of them you know and when users come into chain to start interacting with other protocols you need
to get some of the assets that you will use on other protocols and this is why it's very important to have a strong index and
it just uh uh you know tightening all the products and all the protocols to one place
that to get to anyone you're just interacting with the decks first of all and after that
going to another protocol like let's say collins or maybe um b14G, Navafinance, you're buying one asset,
swapping one asset that you had before, maybe you're bringing from another chain
to Core and starting interacting, they just become a natural for you because
you're swapping at one place and moving, if you want to, for sure, your assets
to another protocol and interacting with that protocol.
But you still need one place where you can swap anything to anything and, you know, be sure that you're not losing just on swapping.
Because it's very important also with everything that we discussed on the impairment loss on sleepage.
what we discussed on the impairment loss on sleepage uh it's very important if you're swapping
one asset to another to get the same amount in that assets and not you know like lose percentages
um so yeah right yeah exactly like if you want to you know provide stable coins on coland you
could swap over to stables in molten or if you need more core to dual stake
swap over in molten you need um yeah just a presentation there that's uh for example you've
heard from dylan or anyone else from core chain uh some let's say ql so anyone that's all there
is b15 gu and they're saying you need to get dual core and you're thinking
yeah but how can i get that you can just come to you know molten and swap your core tokens to
to dual core or maybe if you need st core to you know loop in the colon's uh looping cycle
i don't really remember how it's called properly, but you got what I mean.
Just to farm more points, more API, you need to get somewhere ST core.
And this is the easiest way to get it from somewhere and not to wait, let's say, seven
days a long period when you're staking or unstaking it.
You can just swap it.
So it's just making your life easier because
you don't need to wait for
waiting periods.
Yeah, it's like...
Yeah, yeah, hello.
Sorry, rugs for a sec. But yeah, it's like
the central hub for Core.
It's like the town square.
Like, whatever you need to go
do anything in Bitcoin DeFi, anything on Core, come here, get it, need to go do anything in bitcoin defi anything on core
come here get it and then go do your thing um and then before we were talking a little bit about
you know some upcoming features so i gotta ask what is the roadmap looking like could this become
like it's already a super dex but like a full mega dap where there's like i don't know lending
or perps or different integrations maybe like vault like i don't know lending or perps or
different integrations maybe like vaults i don't know like what do you guys see like big picture
on this roadmap potentially so quickly on the front of you know you know lending is completely
different product it's just um it's just specifically another one. And most of the time, it's just, it's just,
it doesn't really make sense to create some competition
inside of the chain when you need to, you know,
evolve in something bigger rather than just trying to compete
with each other.
So it's just for us, the main point is to stay on the focus
of, you know, the DAX itself,
improving the UI stuff, improving the, you know,
decreasing stuff that is harmful for your wallet,
I mean, for your money itself.
And there is dozens of stuff that you could do
between the DAX and other protocols, even in collaboration. So there is definitely a lot more that will come further
between us and other products on Core.
And it's just a matter of, you know, some time.
We still need some time.
At least we are hoping most of the time that it will be sooner,
but sometimes it's yet later.
But still, we already, as we said,
working on numerous things that will come in the next several months,
and they will even improve the whole situation even more.
And you can already see that now liquidity is deeper,
even in not stable pairs.
And it will be even better.
The API will be better.
The interface will be even more user-friendly.
We are trying to make it as simple in use as possible.
But as you know, it's very hard to make something simple.
And it's very simple to make something hard.
So yeah, just, yeah,
Justin, the book. I was going to give you a compliment. It's one of the most beautiful
things I've ever heard. It's hard to make something simple, simple to make something hard.
I may sound like I'm joking, but I'm serious. Like it's, you know, it's cool. It's a very
competitive space. So besides us now, you know, saying, yeah, we're going to offer options and we're going to offer purpose, which we obviously are going to do,
I still like to think about how can we capture attention and how can we capture liquidity in a way that's a win-win for the protocol,
for the core ecosystem, for its users and outside its users, the users who are yet to be onboarded.
I think if you have an honest conversation about this moment of the cycle, it's the moment of the cycle where things are going pretty well.
But we all know that cycles come to temporary ends, depending on your time frame.
So ultimately, we need to just take everything on a user friendly approach, whether
it's someone who started, who starts today, you know, or someone, definitely, definitely the peeps
who are, you know, interested in leveraging DeFi, complex DeFi protocols. But yeah, I like to think
about that, how can we capture attention for the long term? And that's by offering, you know,
different, different elements, different features to the website. And that's cool. by offering, you know, different elements,
different features to the website.
And that's cool, but still, you know, the questions should arise,
I think generally within the core ecosystem
and in other protocols as well.
Like guys at Colander have done an awesome job
and I learned a lot from them and how they build their products
and how they set them out. But I think that's
a very interesting question generally. It's not like a super direct answer to your question,
Dylan. But yeah, the roadmap is first survival, right? And then make sure everything works
super smoothly and then add more liquidity. That's something which is going to be sure
that I'm quite confident of. This moment of the cycle um this whole network we have i'm very confident
about the growth of the protocol you know obviously tvl and diva is a is a is a not just a vanity
metric it's a you know a solid metric so we're gonna work super super duper hard on that right
no and that was a good answer it makes sense make the current products greatest possible best UI don't over complicate things things that don't
need to be there I like that for everyone listening we are gonna take
some questions at the end so start thinking some start getting some hands
up but before that you know while you guys are thinking of some questions let
me ask are there any pools that you guys think people should you know LP into right now
I'm seeing some on the stable side was some pretty crazy ap wise
Same for on the volatile side as well. So I don't know. Do you guys have any top of mind right now you'd suggest?
So, you know, it just
You know, it's just we can't recommend specifically what to do for people.
It's just a matter of getting used to their tokens.
If they have something that, you know, first of all, it's very important to discuss that if you already had some positions on Glyph or at Bitflex, all of them they are uh on molten it's just uh you didn't need to migrate
anything everything's just much smoother in one place under one branding uh you know without any
over complications um so in that way just uh um i would rather focus on finding the place where you were at the start or maybe you were already using.
But there are already some smooth and great APIs.
So just for you to come to Molten, find something that was maybe more appropriate to you or maybe to the asset that you're holding.
And in that way, you will see some great opportunities.
But I didn't say anything.
Come on, YM. Give us some financial advice, man.
It's an interesting question because I think in order to the questions is also just, you know,
you, Dylan, myself, and YM,
because we all started as users, it's fair to say, right?
We didn't enter the space as builders or, you know,
podcast builders or whatever.
We were users first. So we had to find out what an L1 was and what a chain is
and a wallet and what EVM is.
So it's a great opportunity for people to experiment
and then see, you know, it's unlikely people
don't know what core is, but that they can see what
AUSD is and that they see what the stable pairs are
and solve VTC and synthetics, you know?
So in answer to your question, it's a great opportunity
to just go check out what's out there
and see what feels comfortable for you
and see what happens, you know, if you provide on V3 and you adjust the ranges.
It's a great experiment.
Thank you for the questions.
Great question.
Oh, of course.
All right, audience, let's get some hands up.
I know people got some questions.
Maybe Neve or Wasp could start us off with one,
but come on, people, let's get some juicy questions up here.
Make it tough on them
are the questions going to pop up somewhere
yeah hold on someone's
I think someone's raising their hand right now
yeah okay we got Usman up here I think someone's raising their hand right now.
Yeah, okay.
We got Usman up here.
Let's keep it professional, keep it respectful.
I tried to add him up.
I don't know if it worked.
All right, try once again.
Sorry about that.
If anyone has a question, just raise your hand.
We'll try to let you up.
All right.
We got Ongu or Maxwell.
I don't know if it's letting me bring anyone up.
Here we go.
Here we go.
How's it going, man? Let's think of very much.
All right.
You guys want to speak about that for a sec?
How does the liquidity actually benefit Core?
That's a good question that we didn't really go into.
Hey, Maxwell, thank you for the question.
You mean generally how the liquidity benefits the Core ecosystem?
Yeah, yeah.
I mean, on another transparent note, right?
Everyone's competing to build the best ecosystem.
And one of them that speaks most to the imagination
is TVL, is liquidity. And it's a space
where unfortunately, people like to throw around numbers, whether it's around raises, or it's around
TVL, or like this, you know, crazy spike that happened in one day, which indicates TPS, you know,
transaction finality, or indicates a huge influx of liquidity and then the next day dumps.
So like I've iterated a few times, Maxwell, like we're here for the long term build.
So ideally, liquidity and TVL would grow over time.
And I think it's a very strong indication of trust in an ecosystem because it's, you know,
I think it's a very strong indication of trust in an ecosystem because it's, you know, it's a scary space to be in.
Sending, you know, $10 on your first transaction on MetaMask and it's like seeing it doesn't arrive or there's some delay.
You know, numbers become a bit abstract over time, but it's an intimidating space.
add to the core ecosystem
a platform where people feel safe
where they, besides the fact that we've been audited
by a few super legit companies,
if they feel safe and they feel it's a trusted protocol,
I think that adds a lot of credibility to the space
where you're building, in this case, core.
And besides that, I think there's a lot of exciting stuff
coming in the core ecosystem, which core spokespeople have talked about on many occasions.
There's a lot of super interesting partnerships and liquidity coming into the space and being a bridge to that liquidity.
Still, to speak a little bit in cliches you know bridging to
being the bridge for trad fi if they're not going to build their own chains which i don't think then i think that would be you know hugely advantageous for core yeah
yeah and also i just say
deep liquidity is you need deep liquidity in order to have like a thriving scalable ecosystem
because when you swap from token to token if the liquidity is dry you're going to lose money due
to slippage um and also if you want whales on the chain you want institutions swapping
a million dollars of tokens they can't lose a hundred thousand dollars on one swap they need
to be able to swap tokens there needs to be enough money in the pool so that they can't lose $100,000 on one swap. They need to be able to swap tokens. There needs
to be enough money in the pool so that they can actually get that done. And then so they won't
lose a lot of money to slippage. So if we want hundreds of millions of people on this chain and
hundreds of millions of dollars or billions really of dollars on this chain, we're going to need,
or swapping around this chain, we're going to need pools that are big enough to actually
facilitate those swaps.
So having it all in the same protocol with the same liquidity instead of it all split up allows for bigger and more efficient swaps.
So that's why I'd be huge for Core.
Core simply, no blockchain can scale without deep liquidity.
But yeah, thank you.
Thank you so much, Maxwell, for the question.
I think we're bringing up someone else now, if it lets me.
But yeah, I don't know if you want to add anything else to that, YM.
I think it was called perfectly, so let's just move to another question.
All right, we got a Denner in here. Can you hear us, Denner?
Yes, GM, am I audible?
Yes, GM, sir, GM.
All right, so I hope on this space,
sorry for my voice, my voice is kind of cracky.
I hope you can hear me well.
All right, so Moutin, welcome to Cordow.
It's such an honor to have you on the chain
all right so um i'm looking at the aspect of newbies coming to molting so um is there a way
where the interface of the of the molting molting decks you know is easily accessible by the newbies
multi-index, you know, is easily accessible by the newbies.
And that's one.
Two, how do you encourage people who are not Bitcoin holders to come on the chain to, you know, to interact with DDAB?
That's a good question. So, I mean, how do newbies interact with the interface is by
following the steps to your second question. It's like, how does anyone get in this space? And maybe
some of the bigger tier one sex ecosystems are best because they have fiat on ramps i mean even
metamask has like a fiat on run right and that will allow you to to buy wrapped synthetics but
there's a few steps there you have to be able to use a browser in the browser install an extension
um create a wallet follow another 10 steps write a seed phrase, store that on paper at home,
supposedly, you know, and then assets will appear.
So, I mean, yeah, it's a good point.
I guess if we have a bit more time, if, you know, once we've implemented what we want
to implement and things are working well and TVL has increased significantly, maybe it would be very cool to have a bit, a little bit, because I don't like too much gamification, but a little bit of a gamified experience of onboarding users as easy as possible, ideally without a seed phrase.
That's like, you know, something you need to brainstorm a million times over with a lot of product peeps.
And we've got a very small team.
Like, yeah, some of them are gigabrains, but it's definitely something interesting to think about, right?
I think it's something we turn in the space and you think about how do we make this experience, you know, easy for users just to start.
Ideally, it's like a one-click 0.0001 B2C
or however much you want to buy option,
and then you can bridge it,
and then you can, you know, stake it.
We're far removed from that,
but I'm confident in the future it will be.
And there's a lot of ecosystem players
with, you know, a lot more assets,
a lot more liquidity themselves to build
who are building these products themselves
because it's in their interest as well, right?
A centralized exchange wants liquidity
to be onboarded onto their exchange
as quickly as possible, as frictionless as possible.
But yeah, thank you for the questions.
Very interesting.
Yeah, thank you so much for the question.
All right, we're getting someone else on stage now.
I believe we're getting Ellie up on stage now i believe we're getting ellie up on
stage if it works that is ellie you there or rey um yes i'm here thank you for bringing me up Dylan so for me now for sir Justin so I just
wanted to ask what will be your insights or you know strategies for
Malten if you want us or users to engage the app for a long term since I've seen
Quora is into very community driven and we wanted to have you know like a
sustainable for sustainability like that so maybe what will be your insights about for the long term
for the Molten app? Thank you.
Thank you. Thank you, Rhi. I think your name was Rhi. But yes, that was, that's a very
interesting question. YM is going to answer that, right? Because he's the tournament expert.
But what is interesting about your question is everything is a game of incentives, right?
So I love the fact that you're asked such a direct question, you know, how are we going to get the users to stay on a platform?
That's always challenging. a mechanism which offers a realistic um apr for the long term so much so that another protocol
will not offer something better um but how do you build loyalty loyalty it's a bit of cliche right
because i was thinking about it the other day i really like the ray-ban brand why is that is that
because it's a better brand than oakley no dylan dylan loves oakley's let's say right why is that
there's there's a certain affiliation you have with a brand
and that's built over time.
Jeff Bezos is notorious for,
I'm not sure why I'm going off on the Jeff Bezos tangent,
but I'm very fascinated by his focus
on user and customer service.
Like he was hyper-focused on user experience
and not on investors
and not on what would make the most money.
He just wanted to make sure that users were happy.
So, no, it's definitely something that's going to keep us busy,
keep us preoccupied.
The reason I want to give the question to YM
is because he built something really cool with the tournaments.
And I'm not actually sure if we're going to bring them back,
but he's going to tell you right now.
Sure, sure. So, yeah yeah great question ryan also i think the one of the previous
uh users someone asked something similar also like attracting new users um so the whole idea of attracting people is just it's it's not only attracting them but you know doing everything for them to stay with us because
you know you know it's just very easy to you know to say oh another day everyone will get let's say
an opportunity to be part of one million dollar tournament for example and everyone will start
going here but it's just the moment here that
will you stay with us after that?
And this is specifically what we are trying to focus on right now as the, the better the product will be, the better your experience, like user's experience will be.
Um, it will be just, uh, obvious for you to stay because you wouldn't even have like other
thoughts, uh, when you will start thinking about wouldn't even have like other thoughts when you start thinking
about buying other token or any other token you'll just think okay if I want to buy I don't like
Colin talking it's not financial advice but you know if you're thinking about buying any other
token from core ecosystem it's the for us the main purpose to make everything that's the first uh
mind that comes to your mind is uh that you're coming to molten to to swap that asset to another
one and uh in that way we'll you know we will grow our community in that way we've definitely
you know launched previously some good campaigns, like tournaments and other stuff.
The problem there is that we need to rebuild them and after that, people stay with us.
And this is the most important part because it's not, you know, on focusing how much we attracted users, how much they generated volume.
For us, the main purpose here is how much of them stayed with us.
And with most of the campaigns,
the number stays and grows even more and more.
And I guess by, you know, ideally for us,
we will just continue growing that number to, you know,
having at least maybe a thousand users per day and so in that way it will
be you know very great for us so yeah i i hope i answered your question and also jason you've made
a great intro to my answer yeah no thank you that was perfect answer um thank you re for the question
now we're getting up ishtiak just takes a second to let him up
ishtiak you there
how's it going man?
Yeah, so I am going to ask a question about Molten.
So I know Molten is the positioning itself as the liquidity engine for PTCPY on core. specific innovation or mechanisms are you implementing to ensure deep and sustainable
liquidity for both stable or android phases pairs in the long run so actually this is my question
for more time okay so ishteyak i heard you say a lot of things, but I didn't actually catch your question.
Would you mind repeating?
Sure, I can repeat it.
So that's it.
Just the main thing that you want to know.
So I want to know about the mechanism, what are you guys show to users for us,
and any sustainable things for core community.
So we are expecting anything or anything this.
So we are thinking about this.
So please explain about.
OK, so I think the main gist...
Go ahead.
I can handle that.
Thanks a lot, Ishak, for your question.
So, for us, it's very important to keep everything stable, not in the term of, you know, like stable as our pools, but rather in the growth of the ecosystem and tangible rewards as APY will be very important for us.
It's, you know, the more activity will come to Chain and the more activity will come to Molten, the more rewards will come to, you know, LP providers.
rewards will come to, you know, LP providers.
And that way it will be just, you know, as the momentum, people trading,
people in that way, other people who provided liquidity getting rewarded for
that because of that, you know, the amount of API increasing.
And because it increases, it attracts more people to trade as well as to
earn more. And it just for us, it's very important to, you know, keep it stable in the way of,
you know, as for example, B14G did, they've created the staking with like dual staking
and that way you just understand how you're just understanding how you're earning
and that you're earning a lot and you understand from where your yield come comes from and this is
also very important for us as we are trying to keep it as transparent as possible all the
rewards in apy more right now at least for now, they are coming from trading activities.
And for the last, let's say, several months, starting from Bflex and after that moving to Molson,
we saw a tangible increase in the whole activity between two of these protocols.
And in the end, that came to one protocol.
So everything is coming smoothly.
I think right now more than four million, at least dollars traded daily.
And in that way, we are trying to push all our forces to even increase even more that number.
And the more activity will be, as I said, on chain and on Molten, the more beneficial it will be in swaps, because I will tell you why it will happen.
More activity will bring more APY, more APY will attract more LP, and in that way, it will be even less on slippage, even in non-stable pairs, non-packed one-to-one pairs.
And that way the whole experience will be smoother.
I hope I answered your question.
Yeah, thank you for your answer.
I like it. Thank you.
Thanks for your question.
Yeah, thank you for your question.
All right, we've got
another speaker coming up right now why I'm Justin it's cool if we keep this
going till 12 or for nine more minutes yeah for sure yeah as long as you want
all right perfect we got all smarts official here with us today how's it
going off smart what question you got?
I think you're muted, sir.
Am I allowed to go now?
Osmar is officially with us today.
How's it going, Osmar?
Yeah, you're audible.
We can hear you ourselves. I think you're audible. But we can hear you ourselves. But yeah.
I think you're muted, sir.
This is like interstellar. There's some delay.
There's some delay, Osmar.
But I'm very curious to hear your question.
All right, we lost Osmar.
But we do have Adedeji here with us now.
Oh, yeah.
Graf, thank you, everyone.
And thanks to the team and Kodawa as well.
Of course.
Because I've got two things, yeah.
The first is I force for them to appreciate the team because, obviously, I don't know
if anyone's going to talk about this.
Bitflux, now Moting, they actually brought back trust into call.
I want to appreciate them because I lost my Bitcoin and I was refunded.
Thank you so much for that.
Secondly, I would like to give you feedback regarding the new interface.
And I want to make that private if anyone in the team could allow me the opportunity. Thank you
Yeah, man, of course, do you have any any question at all for the team?
Oh No, just a feedback and appreciation based on my lost Bitcoin I was refunded by the team
No, I don't have any question just my appreciation to them and my feedback thank you hey we're just
spreading love i'm down with that thank you for being with us yeah it's just very important for
us yeah i would you know double down on that front thank you all for bringing that up uh a lot
we tried to launch several lps that's not LPs, sorry, some pools that were
more beneficial for users, but we were just providing some LP from our side just to make
some user experience better on Bitflex. But because of that it just it happened that people some of the people lost
because it was like a liquidity in one asset to another and yeah it took us some time to um you
know give money back to like everyone who were losing there um so yeah thanks a lot for your
patience because it took us some time because all of that happened during the time when we were launched in
Molten so thanks a lot for your patience that it took some time for us yeah and on this note as
well like I haven't even checked if dms are open but I'm definitely going to open dms because I
think it's important you know that uh we're not that huge anyway right it's not gonna make so
much of a big deal but definitely if you have any ideas on things to improve, things you like or things you don't like or would like to see,
maybe you have a great idea on what should be added as an asset or a feature, you know,
you can just send it to us on DMs.
I'll open them.
And then, you know, hopefully we get super big one day and I'll have to close DMs and say, no, guys, that's it.
No more questions.
But until then, definitely welcome.
All right, all right. I think I'll ask the final question here maybe I'm reaching maybe I'm asking for too much
alpha with this one you know we got a hundred and twenty something people in the audience
and I'm sure they're all wondering just three letters TGE you know will there be a token is there anything you guys could tell us
about that I don't know feel free to keep it behind raps but uh I mean there's 120 people
you gotta you gotta give us something right sure I'll give you a hard no so because you said
you said you keep it behind raps but I think the most um the most honest thing is you know um
at this moment i can't tell you anything we can't tell you anything right uh as soon as we would
have any information to share um we would share with you and until then i'm i'm just most excited
about i mean i'm loving all the questions right because these are great questions that are coming
in um and they're gonna make me think even more about how to get and keep users.
But we want to build a product for the long term.
We understand how competitive it is.
We definitely believe in the tech stack and in the ecosystem.
And then if a token comes into place, right, has a fit, we definitely will, you know, make sure that there's way for that or that the
infrastructure is there for that.
It's not something I would share here.
I'm most excited in a long-term
build.
Well, I am. Any thoughts on that?
I don't know. Maybe I could get something out of you.
Man,
you're
making me nervous.
The situation right now that we're working on a lot of stuff.
And as we previously gave some alpha, a lot will happen in the next like two months.
But I didn't, man, there is, as Justin said, hard no on anything.
There will be a lot of updates and announcements. And just subscribe to our Molten page on X.
And just, you know, follow that to see anything that's coming from that.
Because it should be huge.
All right.
You guys heard him.
Follow that Molten page.
That's where any announcements will be dropped.
And, yeah, I mean, this is the Bitcoin DeFi Liquidity Hub. So, obviously, just follow it no matter what. follow that molten page that's where any announcements will be dropped and yeah i mean
this is the bitcoin defi liquidity hub so obviously just follow it no matter what i'm putting on
notifications too i want to know everything new that's going on all the different announcements
but um yeah justin ym thank you very much for speaking with me thank you everyone for asking
questions thanks to everyone else for listening this is is a great space. I'm excited for this next chapter of Bitcoin DeFi.
Yeah.
Thank you so much for having us on, Dylan.
You're a great host.
And the people here are great listeners.
And then some of them that were able to ask questions
are great question askers, you know.
But no, just to say it was really fun being here.
And I hope we get to come back soon, you know, whether we, it was really fun being here and I hope we get to come back soon.
You know, whether we deploy new stuff
or talk about the ecosystem,
we'll be in touch. Thanks everyone.
It was really cool.
Thanks for having us.
It was a pleasure being with
you guys.
Of course, of course. All right. Thank you everyone
for listening. We might be doing a little core
block party type of space next week.
So that's a little elf about that.
Big stablecoin announcement coming tomorrow.
Other than that, you know, keep dual staking.
Keep running the Bitcoin DeFi.
Now you get to swap with no slippage, basically.
Follow Molten, and we will see you guys all on the next space.
Goodbye, everybody.
Have a great day.
Have a great rest of your week.
