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The Espresso Shot x @Jenndefer ☕️
Recorded: May 4, 2023 Duration: 1:48:31Space Recording
Full Transcription
What's going on, what's going on, what's going on?
Let me send this out first.
Alright, let's get the music out.
Listen, listen.
Every story needs a superhero and a villain.
Now, introducing...
And, yeah, I mean, I always join these spaces thinking that I know everything.
And then once a motherfucker makes a question, I'm like, what the hell did this dude just say it?
And that's the feeling that I get.
And that's the feeling that I feel like a lot of you also have.
So having Jen here today is going to be amazing.
Thank you, Jen, for pulling up.
Thank you all for being here so early.
I already see 14 of you in here.
But we only have four retweets and two comments.
So if you guys can go, bottom right corner, drop a retweet, drop a comment.
I don't know, come up and speak to us.
If you have any questions for Jen or me, Sansa, we'll get through the reports.
But you can shoot your hand up and we'll get to you as soon as possible.
But with that being said, this is the Espresso Shop.
We go live every day, Monday through Friday, 11.30 a.m. Eastern, all the way to 1.
So, yeah, we're ready.
Back to you, Sansa.
Yes, sir.
Yes, sir.
You know the usual vibes, guys.
And like I've said it, I've said it every week.
I'm not shy about it.
I know every Thursday and Friday are some of the more competitive spaces days.
And you could have been anywhere, but you decided to come to the spaces.
So I thank you all.
I appreciate you for that in all seriousness.
We're working on it.
We're working on being a little bit more competitive, a little bit better each day.
So, again, if you have any feedback at all, go ahead and plug it in.
We've been doing this since October at this point.
You know, I'm a very critical person of myself.
Shaka knows I'm very critical on everyone that's involved.
So I really do welcome any criticism and feedback for this.
And we really do want to make this one of the biggest spaces out there, but not just in Web3.
And we're working on that.
So I appreciate you all for being here.
I really do.
And I know I'm a little bit more serious than my usual, you know, like, ah!
But I do appreciate the allowing me to be a tiny bit serious today.
So that being said, guys, please retweet the spaces if you haven't already.
Don't be shy to come up and speak.
I'll be shooting out invites if y'all want to come up.
Don't be shy.
We will be getting into the weather report a little bit.
But first, I want to check in on Jen.
I want to see how she's doing.
You know, she came here.
It's a Thursday.
Jen, how are we living?
How are we vibing?
What's going on?
You know, vibes are good.
I feel like it's early for me because it's like 840.
But I only feel that way because I have, like, a lot of our team, product and engineering is in Asia.
So I'm usually up at, like, 6, 6.30, 7 to get on early morning calls with them.
So, like, I still feel like I'm waking up.
But the reality is, is, like, I've been on calls for, like, the past hour and a half.
But super excited to be here.
Thank you for having me.
I'm not going to lie.
I was a little nervous because I got a ping yesterday on my Twitter notifications that you, like, tagged me in the name of the space.
And then I was like, oh, like, that's cool.
Like, oh, my God, I'm nervous.
And then I wake up this morning and Shotgun puts in the description, like, the truth about Jen.
And I'm like, oh, God, what did I get myself into?
Oh, no.
So hopefully I'll be able to help you guys get some better understanding of lending.
And, you know, I do have to say, like, listen, I jump into some of these spaces sometimes, too.
And, like, I'm someone who works at a lending protocol.
And some of the questions that get asked, I'm like, what are you talking about?
Like, are you just using big words to use big words?
Like, you know what I mean?
And then they break it down.
I'm like, oh, you could have said that much more simply because I sometimes it's like a foreign language to me, too.
So you guys aren't alone there.
But I think that's what's awesome about the spaces.
We get to learn together and we get to listen to people say big words together and go, what the fuck?
And, you know, here we are.
Oh, my God.
Oh, thank God.
So that might not be as dumb as I thought.
Yeah, they're definitely.
I will say this.
I will say this.
When we started talking about the lending protocols and everything this week, I got the very same vibes I did when I was trying to understand nutrition, right?
For those of you that don't know, I was a nutrition coach for five years.
And, you know, I don't usually toot my own horn, but I was a pretty damn good one.
Not going to lie to you guys.
Because I could take really complicated shit and I could break it down so easily that any client could understand it.
And that's the same vibes that I get from, you know, talking about lending protocols here.
And I like that because it's a little bit of a challenge to try and take, like, learn the information and then really, really break it down so simply that even someone from Web2 could, you know, learn from it.
Or someone from, you know, maybe even my daughter who's, well, maybe not now.
She is only 15 months.
But, you know, when she's, like, you know, able to form complete sentences, I could describe it to her.
And she's like, oh, yeah.
You know, that's not how she sounds, but you guys know what I mean.
But, yeah.
And so that's kind of what I like about this.
I like hearing about really complicated shit because, just like Jen said, more often than not, they're just using fucking big words just to use big words.
We don't do that here.
We use small words to use even smaller words because, well, you know, my co-host lives in the jungle.
And, you know, I'm in my basement office right now with my dogs giving me judgment looks for absolutely no fucking reason.
So, yeah, that's the kind of vibe that we have today.
But, hey, let's go ahead and get this kicked off.
Shotgun, why don't you go ahead and hit me with that intro?
Yes, sir.
This is the Bowser Report by Sonny.
Oh, shit.
I always forget to do this.
I never take my sip of coffee before.
Wait, one more.
I need one more.
I need one more.
It was a tough morning.
That was a good one.
That was a good one.
Oh, hey.
I didn't see you guys there.
So nice to see you again.
If you have sensitive ears, please turn down the volume on your phones.
If you even try so close to blame us for any kind of hearing loss, quite frankly, you can go fuck yourself.
Because I actually have a hearing disability, so you have no excuse.
So, again, turn down the volume on your phones if you have sensitive hearing.
If you have headphones on, this is your one and only last warning here.
Because I've been saying it for the last 30 seconds.
And it does not take that long unless I check to turn down the volume on your phones.
Also, if no one told you today, you're doing fucking fantastic.
Except Murr.
He's got the bowl cut chimp.
But otherwise, you're all doing fantastic.
We love you.
Again, turn down the volume on your phones.
We got the weather report.
It is a beautiful Thursday.
We're going to go ahead and talk about Bitcoin.
Almost at $29,000.
Up just about a couple hundred bucks.
$28,870.
Down just under 0.6% in the last seven days.
That's okay.
That's nothing.
We have a tolerance of up to 60% loss, let's be honest, unfortunately or fortunately, however you want to look at it.
And then we got Ethereum at $1,887, just hovering between that $1,850 to $1,900 wall.
I'm curious on where it's going to fall, where it's going to end up stabilizing a little bit.
Again, this is the beautiful perspective of zooming out that I really always love to advocate is that the last 24 hours,
it is up just under 2%, and in the last seven days, it's down barely by like 0.5%.
Like just down barely under 0.5%.
So it's doing really well in general.
And let's go on and move over to Matic, which is at $0.98.
If you don't know, we had the Polygon shot yesterday.
My man Big Neil was like, hmm, I don't know, you know, but I think overall we're still pretty relatively bullish on Polygon and even Matic.
I think the only question being asked here is the discoverability of Matic, right?
Why?
Unless more people are going to sell in Matic or unless, you know, Polygon tries to make more of a use case for it in general,
which in my opinion, they're trying really, really hard to make it more well-known.
You know, yesterday we talked about Sports Illustrated doing a ticketing NFT on Polygon, building on that.
So if that doesn't make you bullish on Polygon, I don't know what does.
And if you're like, wait, but the price isn't going up.
And well, here's the funny thing about that.
Price doesn't always go up when there's a bullish case for something.
Sometimes it's just a bullish case for it because it brings on more people.
It brings more awareness to it.
And when you bring more awareness to it, as an indirect effect, you can have the price go up, but that's not always going to be the case.
And so I want to remind you guys that it's not always something happens, price goes up, and that's it.
So this is something to keep in mind.
Then we've got Solana at $21.82, down just under 2% in the last seven days.
It's up 2.2% in the last 24 hours.
Again, Solana in general has been just kind of hanging in there really, really well.
And then we've got on the Solana NFT side of things, again, you guys know I like to focus more on the projects that have been day in and day out,
staying in that top 10 to 12, and how consistent they are in that.
And to me right now, Mad Lads is relatively new, but it's been making a really big splash really fast.
And not in a bad way or not in any sort of way, just because of the person behind it is also someone that helped develop the Solana phone.
And so that's really interesting to me.
Other than that, famous Fox Federation.
Clay knows.
Just a fun fact.
I was just in a space with the founder of Mad Lads.
And these guys have been here for like one year plus building the technology for their project.
And just now, they started getting some recognition.
So just one of these things that put into perspective,
if you don't get the recognition instantly, it doesn't matter that you're doing something wrong.
But sometimes in Web3, it doesn't take that much time to be respected.
So just wanted to point that out.
I love it, Chakan.
That's really well said.
And I agree.
I think a lot of people get discouraged very, very easily.
You know, and that, yeah.
I'm not going to try to draw back to spaces.
That's what I always do because I'm not a project founder.
I'm just a fucking spaces host founder.
But hey, you guys know the vibe.
Famous Fox Federation, Clay Knows, Famous Fox Federation,
also been here for a really long time building.
They're probably the only project that actually can say they're building in silence.
And they actually are building in silence.
And you'll have most holders kind of preach that as well.
At least that's just my opinion.
So I'm going to be trying to get some Solana spaces going on with them a little bit, you know, later.
Hopefully in the next couple of months.
And then we've got, other than that, Clay Knows, ABC, Solana Monkey Business.
They've all been hanging in there day in, day out.
Okay bears kind of going in and out here and there.
So, again, really interesting stuff.
I think that there's a lot to be said for these projects, especially with D-Goss and Hughes having left behind a little bit of a hole to be filled there.
And then other than that, we've got Captains, 7.6, still hanging out real tough there.
Love to see it.
My Lady at 3.4 ETH.
We still don't understand why.
Mostly because Community kind of just started trading shit coins and cycling it back into My Lady.
So we love to see it.
We love to see it.
I love to see a Community come up.
I will say that much.
I love to see a Community come up.
You guys all know what I'm talking about.
4-8 Kennel Club.
The only reason I want to bring this up is because we used to see them really hanging around like a strong support around the 6th to 7th floor.
Today is at 4.9 with 160 ETH in volume in the last 24 hours.
This is interesting because a lot of people are starting to question Yuga Labs.
4-8 right now is at 50 ETH floor.
And it's just – it's interesting because is Yuga Labs going to get questioned a lot more simply because people are questioning the existence of NFTs because we've been in this ecosystem?
And questioning it more so in price action.
Let me back up there.
And because people are like, well, is it really sustainable that BoardApe is going to be 50 ETH this whole time?
You know?
No, not really.
I mean, again, it depends on the IP usage.
And I talked about this before.
A collection like Azuki or BoardApe or really any Bluetooth, maybe even Doodles just because their IP looks so usable.
How strong are they using their IP?
How much of a collective of their holders are utilizing the IP so much so that maybe some holders that may not be utilizing their IP, you might have – they might have companies or other people that see the potential reach out to them to either license it or have some sort of agreement going on.
In which case that I believe you will have a higher floor price on those versus your Reddit avatar NFTs, which probably will go from anywhere from $10 up to fucking $200, $500 for a real, real premium avatar just to be able to display it as your PFP either on Reddit, Twitter, or any social media.
And that's kind of where I'm at with that in that sense.
But other than that, we got Sandbox, you know, Escape Rooms, a company that specializes in IRL experience and adventure experience, partnering with Sandbox to bring real-life Escape Room experiences into the metaverse.
Holy shit.
Can you imagine?
Can you fucking imagine?
If I was like, yo, Shotgun, Jen, after the spaces, you guys want to go do an Escape Room in the Sandbox metaverse?
I think that would be really cool.
And then meanwhile, we're all sitting at home with our VR goggles stressing out.
Where's the key?
Where's the code?
Where's the code?
And, you know, and it's just like – it's stressful.
I don't know about you guys.
I've never done an Escape Room myself.
But just watching those videos, I'm like, oh, my gosh.
I saw parents decide to do it with, like, two kids.
And one daughter, about, like, ten minutes in, started, like, panicking.
She's like, Daddy, I don't like it here.
And I'm like, yeah, I don't know what the fuck you were on when you thought bring your kids to the Escape Room, my man.
Like, what?
You know, take them to the playground or something.
I don't know.
Or to a coffee cafe.
I wouldn't be like, oh, let's go to the Escape Room.
I would be like, I'm going to drop this off at the babysitter and go do this Escape Room.
Anyway, that's it for today.
The last part was unnecessary, but y'all got it anyway.
Shotgun, hit me with that jungle report.
The jungle report by Shotgun was good, everybody.
Before I start, I just want to make things clear.
Today's kind of a last project being cited in here, but those actually caught my eye.
And the reason being is that the market's really dry.
And I believe that that is due to the, you know, extremely high gas fees.
You guys already know it's meme coin season.
But there are still some very interesting early projects right here, I must tell you.
And to kick that off, I'll start with Join Grapes.
I mean, actually Join Grapes is their handle.
But the project called Grapes, The Grapes, they're actually opening their collaborations tomorrow.
And I'm actively trying to get some spots for the Espresso Shot community.
It's a large gaming ecosystem by SolidWeb2 team with proven track record.
I've already mentioned them before, but I just got to reinforce that it's backed by Animoca brand.
So definitely keeping an eye in there.
Number two, we have Geoverse.
I'm also in talks with them because I am trying to secure some spots for our communities.
A PFP, NFT project, and a tech platform that aims to connect communities in both Web2 and Web3.
Brought by successful Web2 specialists.
And just getting a little bit out of our comfort zone, those projects that I'm mentioning are mostly on ETH and Sol and Polygon.
So today, I'm trying to do something different and adding three upcoming SUI projects.
And SUI, for those of you that don't know, it's an upcoming blockchain.
It's really new.
They're trying to build some new tech.
They're trying to make it faster than both ETH and Solana.
Will they succeed?
I got no clue.
However, all I know is that there are opportunities.
And just like the Aptos kind of season that we had, even if those chains, because we know it's really, really hard for them to consolidate.
But even if they're not here for a long time, if you're trying to make quick profits, it's still something worth keeping an eye on.
So I'd like to start with Fuddy's.
Fuddy's, they actually got some really, really interesting artwork.
It's probably one of the most hype mints in there.
I'm not sure if there are still ways to get whitelists.
But it's definitely one of those projects that are still worth keeping an eye on in secondary because of how hype they are.
Number two, we have the Outcasts.
Really, their artwork actually reminds me a little bit of Mad Lads and D-Gods at the same time, which is a kind of a weird comparison.
But I'll be pinning it up above so you guys can check it out yourselves.
I really can't still figure out what they're all about yet.
But all I know is that they're getting a lot of recognition and socials and the artwork is high quality.
So early, I'll keep an eye on as well.
Number three, we have Foxbyte, which is unleashing creativity with AI tools, seamless Discord Web3 utilities and brand.
Also very unique artwork, kind of a raccoon type thing.
You can still get whitelists for that one.
They're really, really early.
So that's pretty much all we know about them.
They're developing creative AI tools.
But I will be updating you guys as I get to learn more about these projects.
I will also be pinning up above all the threads and resources that I use so you guys can check them out yourselves.
And that's all for the Jungle Report today.
Thank you, Sansa.
Yeah, yeah, yeah.
Sorry, I was taking a sip.
I was about to take a sip of coffee and then he said that.
And I was like, okay.
I was expecting a little bit more of the transition.
So you're going to hear another.
Yo, I apologize.
Oh, and just the last item.
Why the hell does Pepe can't stop pumping, bro?
Like every time I'm like, nah, just pump.
I'm not going to buy it because, you know, this thing's a fad.
Probably going to go to zero.
And then the other day, they pump like again and again and again.
And I just keep coping.
I can't deal with my copium anymore.
I had to let that out here.
Yeah.
Yeah.
The copium is off the charts.
I don't have any copium.
And I'll tell you why.
I don't pay attention to shit coins.
The only thing I did pay attention to yesterday was that I had to pay $30 in gas versus my usual $10.
So, you know, I paid it because I'm not, you know, I'm realistic to know that that's not going to go down that much more during shit coin season.
So, yeah.
That being said, Jared, what's going on?
You work for Paris Bays.
You and I have talked back and forth a couple of times.
You and I were supposed to meet in NFT NYC.
And I think we both ended up kind of missing each other, fading each other, whatever you want to call it.
Yeah.
There's almost too much going on.
Hey, real quick.
Are you going to be in Vegas, Jen?
I was actually talking to someone about this.
So, I have my ticket for the event.
But I'm literally getting back from Israel like a day or two before.
So, I am looking at like booking a hotel and just like jetting on over.
But I might be, you know, dead inside.
Like literally, mentally, physically.
And like hopefully the garden will like bring back some life to me.
And then I think I might need to take like another two-week vacation just to recover is what it's sounding like.
There's so much hype happening around Vegas.
So, I'm definitely going to try to make it out there.
Yeah.
The FOMO is so crazy.
Jen's willing to just fucking just truck it through to Vegas and just be like, the garden will revive me.
I will lay down in the garden and they will bring me back up.
And here we are just like, I need another vacation.
So, yeah.
Honestly, that's probably what it's going to be like for me too.
Except for me, my two-week vacation is just going to be being home.
But, yeah.
All right.
So, look.
Let's jump into this a little bit.
Let's jump into this a little bit.
I'm interested.
I want to – why don't we jump into –
real quick, you know, what –
I mean, you've talked about this extensively for like straight –
for like the last 48 to 72 hours.
I know.
I'm very aware.
So, I'll try not to repeat the questions.
But, you know, what are your ideas right now, your thoughts more so on what Blur Lending is doing?
And, you know, we'll start with a little bit of a refresher here.
What Blur Lending is doing versus what you are normally seeing with, you know, Paraspace, NFT5, basically all the other loaning protocols that we see in the space.
So, what's your thoughts there, John?
Bottom left?
Take your time.
It's okay.
It's okay.
I might have jumped the gun a little too much there.
So, it's okay.
It happens.
We're not all privy to the quick – I actually did try to come off mute in another space yesterday, to be honest.
My phone – I was fighting with my phone.
It was literally going on mute, going off mute, going on mute, going off mute.
So, yeah.
Jen, is that what's happening with you right now?
I think that might be what's happening with her right now.
Okay.
I just think she might be rugging, to be honest, because she's not even reacting.
Yeah.
Yeah.
All right.
Well, hold on.
Jen, if you can hear me.
Jen, can you hear me?
Oh, wait.
No, she's reacting.
She's back.
Oh, yeah.
Oh, yeah.
Yes, sir.
Yeah, she's definitely rugging.
I told you.
Well, I'm sitting here going, oh, my God.
Did I harp on something that I wasn't supposed to?
Like, am I supposed to, you know, reel it back in, you know?
So, fun fact, that jacket that Jen Suzuki has on, that was the initial Suzuki that I, well, not that particular one, but basically the male version of that Suzuki was the initial Suzuki that I inquired on.
And that was, obviously, that guy wanted too much that I just could not get.
So, I just ended up moving on to the next Suzuki I ended up liking, which was this one.
Yo, Sansa.
Yeah.
Did you actually saw the question of the day that I sent you?
I did not check Discord.
Nope, nope, nope.
So, I will be checking that once I pass it out to Jen.
Jen, are you back?
Did I harp on something?
Should I rephrase the question in a different way?
Because I don't want to get sued here, Jen.
I'm not going to lie to you.
No, no, no, no, you're good.
I was just sorry that I got rugged there.
No, you're good.
You're good.
Did you hear the question or I just wanted to double check?
No, I don't think I heard the question.
All I heard was, like, thoughts on Blend versus other lending platforms.
And I don't know if there was a question after that.
Yeah, yeah.
It was pretty much just that.
I added unnecessary words, honestly, now that I look back at it.
So, yeah, pretty much, just pretty much what are your thoughts on what Blur is doing and what you usually see in every other lending protocol that we see in the space that everyone probably were already using, kind of.
So, yeah.
Yeah, so TLDR on Blur, if you guys don't know, it's perpetual peer-to-peer loans.
And all that really means is the loan is open forever.
It's permanently open.
That's what perpetual means.
Except for the way Blur designed it, the person who has the power to cancel the loan is actually the lender.
You know, borrowers can, quote-unquote, cancel the loan by repaying it, right?
That means they've completed their loan terms and whatnot.
And so that, it's a little, it's a little personal opinion, not opinion of Paraspace, but like, I'm a little sketched out by it and I'm watching it very closely with other folks in the NFT FI space because there are some risk here.
And I already started to see this kind of unfold yesterday.
So, real quick, the way people are earning lending points on Blur, it's actually, they're earning lending points for when lending offers are open.
So, once they pair, if you're a lender, once your offer gets paired with the borrower, you are no longer earning points.
And then lenders are only incentivized to keep those loans open for 24 hours because if they cancel a loan within 24 hours, they get penalized 250 Blur lending points.
So, we can expect to see a lot of these loans will hold for a minimum of 24 hours before the lender cancels and then you are basically forced to repay your loan or refinance your loan.
So, like, you add that mechanism on top of what they built and really, it creates kind of like this crazy storm that's really designed for short-term loans.
Like, the more and more I look at this, the more and more I'm like, this is really for people who are trying to flip NFTs.
Maybe they don't want to pay the full floor price and they can, you know, you know, pay a little bit down payment on ETH, borrow the rest at 0% APY or APR, and then flip it quickly within 24 hours.
I think if you're trying to do any lending or borrowing against your NFTs outside of, like, this quick flip for buy now, pay later, you're really better off going to one of the many other, you know, NFT lending by platforms.
There's other peer-to-peer models, and then there's peer-to-pool models.
And, you know, Blur has added this, like, incentive layer.
And what's kind of scary from the NFT5 perspective, and they mention this in the Paradigm White Paper, they basically say something along the lines that we're assuming that there's more sophisticated lenders that are capable of making these complex transactions on and off chain, evaluating their risk, and then, you know, using their own capital.
And that's, like, a pretty big assumption to make, given Blur's current audience and core users.
And, like, what does a sophisticated lender look like when it comes to peer-to-peer loans?
Well, you're looking at things like, obviously, what's the interest rate that I want to charge, i.e., what's the yield that I want to earn?
But then I think the biggest one is the loan-to-value ratio.
So LTV, you'll hear this get talked about a lot the more and more you look into NFT5, but basically LTV is, like, how big your loan is in relation to how much the asset is worth that you're giving a loan against.
So right now on Blur, people are able to basically provide loans up to 95% LTV.
So borrowers are only putting a 5% down payment on whatever asset it is they're trying to purchase.
So where this gets a little hairy and tricky is basically when the amount of the loan becomes worth more than the collateral itself.
And we started to actually see that happen yesterday.
Let me pin this tweet so you guys can see it as well.
So this came from, dear God, so many random-ass retweets on my profile.
So I just pinned it up top.
If you guys click on this, this came from Snow Genesis, which is an NFT5-like loan aggregator.
So their view, by the way, on, like, what loans are active on Blur is way better than the Blur UX UI.
But if you click on the image and you scroll in, at the time that I snapped these yesterday, the floor for Azuki on Blur was 15.5 ETH.
And then you can see there are literally loans out for more than what the floor price is.
And look at the APRs on them, which is, like, the 999%, like, 1,000%.
So that's the interest that the borrower is paying.
And basically where this starts to death spiral is no one's going to refinance this loan, right?
Like, no one's going to be like, oh, yeah, let me lend you money for more than what your collateral that you put down is worth.
And basically what's going to happen is it's very likely that these NFTs will either end up with the lender because the lenders, basically Blur is going to be like, oh, we can't pair you.
We can't refinance your loan.
Your position's insolvent.
They're going to liquidate your down payment.
And then the lender will come in and claim the Azuki.
Well, what happens when lenders end up with more Azukis than they might have wanted?
Because, you know, they're out here trying to just, like, earn ETH and, like, get Blur points.
They might have not necessarily wanted it at Azuki.
It could lead to a dump on the floor, which is, like, you know, we see that happen when there's a bunch of cascading liquidations.
And so that's where I think Blur gets a little messy.
Like, I actually wasn't anticipating seeing this for at least several weeks because I assumed I was like, oh, well, everyone's going to be putting out loan offers.
Everyone's going to be wanting to earn Blur points.
But then you have to remember the caveat.
They're not earning Blur points if they're paired in a loan.
So, yeah, I'm going on a full-on tangent.
No, no, no, no, no, you're good.
You're good.
It kind of feels like Blur is more so just incentivizing more offers to be out there rather than offers to be accepted.
Like, location TBA the other day was saying that he put out a loan and it got accepted so fast that he didn't even earn any Blur points whatsoever.
Like, and that, first of all, it made me laugh.
And then he said that the total profit that he made was 0.01 E.
So this man put 14 E down the line for a profit of 0.01 E.
And so I think that really spoke to, you know, and location is someone that's smart, right?
He has an idea of probably, he probably figured out like, oh, I'm going to make this a little bit more juicy so that someone actually takes a loan and whatever.
And then when Eddie and Jen, when Eddie brought up the whole once the loan gets accepted, the points don't keep accruing.
That really kind of threw a little, some people for a loop there, I feel like.
So that's probably what led to this that we're seeing now, like you're saying, mostly because the, so they're like, okay, well, let me just do whatever, you know, whatever will keep the loan kind of like, what's the word I'm looking for?
The loan offer open rather than the loan being accepted.
So I don't know.
It's a little, it's a little weird.
Do you, do you, I mean, do you think that this is better or worse for the space in terms of like, like, why, why, why would, why would people take that offer?
You know, they're like, oh, I just paid 0.04 E.
Uh, but the interest on this will go up 0.4 tomorrow if I don't sell this.
And basically we had, we had an Izuki skyrocket 1.6 E.
Uh, basically MFers could just sell for one E profit within the first 24 hours.
So that was, that was interesting to me, but, um, real, real quick before I, before I throw it back to Jen, if she has any, uh, additional takes on that.
Uh, I added a question of the day, which is that would you buy an NFT simply for the purpose of lending?
Um, don't worry.
You don't have to be like, no, I don't understand it, whatever.
You can just say no or yes.
Like you do want to elaborate if you don't have a no or yes, or maybe answer, but, um, but demon, you got your hand up.
What's up?
Well, it's good.
Sansa absolutely loving the show.
As always, you guys are absolutely crushing it.
And wanted to come up here and give Jen her flowers.
Uh, you know, if you guys don't follow her, drop her a follow.
She's absolutely amazing.
Always dropping gems on the timeline and bullish as fuck on whatever she's building and whatever she's doing.
So, yeah.
Absolutely.
Absolutely.
Thank you, demon.
That means a lot.
Yeah.
Yeah.
Jen, Jen.
I mean, you woke up at 630.
I woke up at 1030.
Uh, we are not the same.
You know, we are not the same.
no, but in all seriousness, I, um, you know, it, so you said something that, that kind of made that, you know, that interest that kind of like perked up my ears as well, which was that you weren't expecting to see this for another few weeks.
And I feel like, you know, that might have some people like, well, you know, people are too generous.
So, you know, the time speeds up in that, in that, in those few days there.
But I, you know, do you think this is because of the blur points not getting accrued in terms on, at least on the, on the blend side of things?
And that's why this is happening?
Yeah, a hundred percent.
Yeah, a hundred percent.
And it's also like, we saw the floor price of a Zuki pump, and then we also saw it dump basically right back to where it was before blur even introduced lending.
So like you, I kind of, you know, in my head, I was like, oh, like, it's probably just going to keep pumping for at least, you know, a couple of weeks.
Like, most people should be fined, most people should have no problem refinancing their loan through blur's automatic pairing system, which, by the way, on blur, basically when the lender recalls the loan, i.e. you need to repay or start the refinancing process, in the first six hours, blur will automatically try to match you with a new lender.
And then if they're unable to find a lender for you, your refinancing loan actually goes to auction itself.
So if you guys go to the blur UI, UX, let me pull it up so I can tell you exactly how to navigate there.
Click on collections.
Yeah, some, and it is funny because I see a really big mixed sentiment with the blur interface as well.
Like some people are.
Oh, it's so bad.
It's so bad.
Like, for a trader with a really, really big monitor, it might be okay.
But, like, for everyone else, we're like, huh?
What's going on here?
But, yeah.
Yeah, dude, these tiny dots are literally, will be the death of me.
This makes no sense.
And this is kind of why, you know, it's great.
Blur is actually introducing new folks to NFTFi.
There's Dune data to back that up.
There's, like, a nice little overview of, like, how many users are native to other NFT lending platforms.
And, like, the overlap with blur is actually fairly small.
And it's very likely because anyone on any of these other NFT lending platforms is like, well, I'm not going to use blur because it's not as robust as the platform I'm currently using.
And, you know, again, different tools for different purposes.
I think blur's buy now, pay later is really designed more for flippers and people looking for short-term loans, i.e. loans under 24 hours.
But, basically, if you guys go to the Azuki collection on blur and then you go to the loans tab, you get this, like, weird-looking graph with a bunch of fucking dots that you kind of have to hover one by one over.
And you'll see some gray dots.
Any of these gray dots that you see are loans that are currently being auctioned off for refinancing.
And it's basically, like, there's one that looks like it's about to go to liquidation, actually, because the APY is so high.
But, basically, if you aren't able to refinance your loan, you get liquidated and then the lender takes the collateral.
So, that in itself is a little crazy.
And I think, like, to go back to your point about whether or not this is bearish or bullish for the space, like, anyone working in the NFT5 vertical is going to tell you, like, long-term, this is pretty bullish.
Like, more and more people are going to be introduced to financialization tools.
I'm kind of actually in between.
Like, while I agree with that sentiment, I think short-term, especially because of how Blur implemented their lending, my concern is, is, like, oh, great, people are going to utilize these tools and then they're going to get wrecked.
And then it might turn them off from NFT lending altogether.
They'll be, like, this is fucking dumb.
This is just, like, Web 2, blah, blah, blah, blah, blah, which is, like, not the way we want people to move.
If I'm being optimistic, it might be, like, oh, they might try Blur lending and be, like, oh, like, this is kind of cool.
And then they'll go explore more NFT5 tools and some of the platforms that are actually solely focused on NFT5 and lending.
So I'm, like, in between.
Obviously, DGENs are going to get wrecked, you know, there's no one that can stop that.
But I think Blur could have done a little bit of a better job of, you know, making it even more clear how their system works and making it more clear about what risk people are taking on, whether they're a borrower or a lender.
Because at least when you go to an NFT5 lending platform, you know the risk that you're going to be assuming.
Like, you're not connecting your wallet to that platform unless you've looked into it and going in there being, like, yeah, I'm here to take out a loan.
Whereas, you know, with Blur, it's this easy, like, oh, wait, I can buy a floor for 15.28 ETH or 0.18 ETH.
And, like, that's all they're looking at.
And people don't even realize that, like, the daily interest on majority of these loans are fucking insane.
Like, you're going to end up paying more for your loan than you are if you would have just bought the Azuki outright, which is, you know, you make your own thoughts about that.
Yeah, yeah.
It really comes back to the nature of paying the absolute minimum every month on your credit card, despite, like, the fucking, you know, 10, 12, 20% credit card interest that's on it accruing every month.
So, I think just by nature, we're all, like, we want that shiny thing for as cheap as we can get it, and we want to pay the absolute minimum for it, even if we're in debt for the rest of our fucking life.
So, that's crazy to me.
But, Shaka, you got your hand up.
What's up?
Man, I just wanted to kind of, and Jen, please correct me if I'm wrong, but I feel like it's one of those things that it's opening up more possibilities for people to, quote, unquote, like, trade and invest.
In this space, but, you know, us, like, as NFT community, as, quote, unquote, DJs in general, we just have that urge to say that something is, like, extremely bullish or extremely bearish, and people, like, I feel like they set those unrealistic expectations because, you know, I see people talking about lending and what Blur is doing, and MFs are talking like they found out, like, a GTA infinite money glitch or some shit.
So, man, it's just like a new way for you to do things.
Like, maybe somebody wants to, you know, ride the wave for maybe an Azuki asset, but they don't have the money to spend, like, 16, 17 ETH on that NFT.
So, I don't think that it necessarily needs to be extremely bullish or extremely bearish, but I like it in the way that it's opening up and not the possibility because you guys always talk so much about, like, onboarding new people, mass adoption, this and that, because you want that extra liquidity.
But in reality, these guys, they just opened up, like, a new way for people to put money in this space, and you guys are saying this is bearish, this is this, this is that.
So, I just feel like it's opening up more possibilities.
That's my take.
Yeah, I think it really boils down to the mechanism.
Like, I agree with you.
It's really cool for new tools to be introduced where, you know, folks can get exposure to collections that they may not have liquidity for.
But it goes back to, like, just the way that Blur designed it.
Sanza was talking about, oh, doing the minimum payment on your credit card every month with Blur.
It's not a minimum payment per month.
It's a pay up right now.
It's been 24 hours.
Give me 15 ETH.
And it's, like, if you don't have that liquidity, like, you're not going to be able to get it.
Like, I've actually seen on Snow Genesis, there were people who, actually, no, I lied.
I was, that's right.
I was, like, a little confused because I was going through their UI, UX.
But, like, some of these people were, like, taking out loans on NFTFi and, like, other platforms and repaying it.
And that's right.
I had a, sorry, a little glitch in my brain there.
But, you know, I actually, oh, sorry.
No, no, no, no.
I'll let you finish.
But what I actually, I was just going to say this is going to be a great segue for what I want to kind of jump into next, comparing what the usual process is.
But, obviously, go ahead and finish, and then we'll still go back to that.
Yeah.
Well, I think, to your point, I was actually about to segue into this, like, tweet that I just pinned.
And if you guys click on that tweet, like, Blur is not the first to introduce Buy Now, Pay Later to Web3.
Ben Dow actually did it first, and then Paraspace did it second.
I think we did it slightly better, but I might be biased.
But, like, if you literally just compare how we've built Paraspace's Buy Now, Pay Later versus Blur, it's like you actually get a much clearer picture of what you're getting.
Like, when you Buy Now, Pay Later for an NFT on Blur, it's like the equivalent of going to a car dealership saying, like, hey, I'm going to buy this car.
And the car dealership's like, great.
Like, you can drive it once you fully pay for it, right?
Whereas the system that it should work is like, hey, here's a down payment.
I'm going to, like, pay for this car off over time, and you drive off the lot with the car.
Whereas, like, here, whatever you buy on Blur using Buy Now, Pay Later, you're not going to be able to claim airdrops.
You're not going to be able to verify your Discord roles.
You're not going to be able to leverage things like token proof.
So what is the real utility of taking out this loan?
You know what I mean?
If you're not trying to make a quick flip.
Yeah.
Yeah, exactly.
This is why we just call it renting.
You're renting, and you're barely even renting it.
You're basically paying for the rights to screenshot a picture to say, yeah, I somewhat have this.
That's about it.
Post on the timeline and say pay in half.
You're reserving it for 24 hours.
Yeah.
You're saying for the next 24 hours, no one else can buy this NFT because I bought it.
Not even.
I put a down payment on it.
Yeah, exactly.
I put a down payment on it, and I'm going to pay it later after not using it ever.
So that's fun.
But real quick, let's throw it down to Zia, and then we'll throw it over to Eddie.
Zia, what you got, my man?
What's good?
Yo, what's good, Zansa?
I miss you, brother.
Hope everything's good.
Everyone else in the speaker and listening, too.
Miss you guys.
Hope everything's well.
Quick question.
I just came up because of Jan.
So, Paraspace, I can do buy now, pay later, and have custody of the asset?
Yes.
And then, so is there like a timetable for that, or do I get it instantly?
You get it instantly.
Basically, what we do at Paraspace is if you buy now, pay later for an NFT, it goes into
your supplied positions on Paraspace.
But what you get in return is a derivative token, which is one-to-one with the NFT that
you just purchased.
The derivative token actually holds the exclusive keys for moving your NFT on and off the Paraspace
platform, as well as transferring it to another wallet, as long as you don't have, like, as
long as you're not at your liquidation point.
And then, with our derivative token contracts, we've integrated Delegate.cash, we have a partnership
with TokenProof, and, like, we have more coming and more utilities that we're able to
build because we have this derivative token.
So, the idea here is, like, allowing you to access as much of that NFT's utility as you
possibly can, even while it is supplied on Paraspace and you're paying it off.
So, then, as a thought experiment, can I take out that pay now, pay now, or pay later asset
and then get a loan on Blur?
Because I own it?
You mean, like, withdrawing it?
Yeah, can I withdraw it to my personal wallet and then get a loan for the full value on Blur?
You can, because, basically, you can with the caveat that you have enough credit and collateral
in your position that if you were to withdraw it, it wouldn't put you in liquidation.
Because you're technically borrowing, right, to pay for it.
But, like, let's say you had, like, five Azukis supplied and you just bought one using
buy now, pay later.
You should have enough collateral credit that if you wanted to take out one of those
Azukis to go borrow on Blur, you could.
Okay, so, I need to keep, like, enough liquid in my Paraspace wallet in order to take it
out?
Exactly.
I can't just pay, like, three ETH and take out the asset with nothing else being held
in that wallet?
No, because, like, you have to, like, put yourself in the position of the protocol.
It's, like, if we let you do that, what, like, how are you, how do we know you're going to
repay your loan, right?
Because we have to balance it.
Definitely, with what he was talking about, definitely not intending on repaying the loan.
Yes, money doesn't just, like, magically come from nowhere unless it's a shit coin.
In which case, like, it does indeed come from nowhere.
And if you miss the train, you're fucked.
So, don't be like me, but, like, D-Y-O-R.
Yeah, so then, can I take the loan out from five different websites to pay the other loan,
to pay this loan, and then, is that it?
You could.
You could.
I've seen some D-Gens do that.
I don't personally recommend it.
I'm not a financial advisor, but it just seems like, you know, when you're over-leveraged
that much, it's just a recipe for disaster, and likely the only person that's going to
get burned is you.
Yeah, I mean, I mean, what's the worst that could happen, Jen, you know?
No, I'm just kidding.
There's a lot, like, there's a lot of bad things that could happen.
Eddie, my man, what's good, brother?
What's good?
Sup, sup, Sansa?
Good morning.
What are we lifting today, Sansa?
Well, you know, we're talking about the blur lending.
Right now, we're in the middle of, you know, talking about what the usual protocol is versus
what blur lending is doing right now, and, yeah, that's about it, but other than that.
Right.
I was trying to go for an icebreaker.
Didn't happen.
Yeah, yeah, yeah.
I didn't pick it up.
I didn't pick up what you were putting down.
I wanted to update Jen.
So, Miyazuki, well, not Miyazuki.
Oh, it's going to be Miyazuki, is currently still in auction, and you know what's great
about the blur UI that we talked about yesterday, Jen?
Miyazuki, you cannot see it on the UI any longer.
It has since crossed over into the 100-plus APR line, which means it's one of the orange
dots.
And since there's a bunch of orange dots right in that same area, you can't find Miyazuki
on the blur UI.
So, yeah, even if you wanted to provide a loan and buy out Miyazuki, you can't find it.
It's not there.
What a wonderful UI.
Dude.
What?
Like, so it's like, you know, Blur came out with this killer marketplace and all these
features and, you know, all this UI.
They have all of these resources and it's like, they didn't think what the user experience might
have been like for people who are borrowing and refinancing.
That's freaking insane to me.
Like, what frustrates me is the first time everyone was complaining about Blur UI, they're complaining
because they're like, oh, I don't like the orange.
I don't like the text.
Like, that's fine.
Like, that's not a complaint.
That's just, you just don't like it.
It's actually a very good, like, general marketplace UI.
Plenty of information.
Maybe their charts aren't perfect, but, like, generally, it's pretty good.
But here, it's literally unusable UI.
Like, it actually infringes upon my ability to use the protocol, which is remarkable.
So, having a great time, actually.
Yeah.
Yeah.
Sounds like it.
Sounds like it.
Well, Eddie, I don't know if you know, but location made 0.01E profit on the very first
day.
Not a lot of people can say that they did that.
That they did that.
Bullish.
Bullish.
That's some Frank.
Yeah.
If location does that just, like, a couple million times, I mean, that adds up real fast.
Adds up real fucking fast.
So, location, on your way.
On your way to your 108th challenge, my man.
What's good?
Location?
Yeah.
So, you know, it's pretty cool.
I'm following the Franklin playbook.
I'm going to, you know, slowly build up my 0.01 gains, and then I'm going to play one
hand of blackjack.
That's called max leverage right there, baby.
But, no, Eddie, yeah.
Sorry to hear about the UX problems.
But, um, I'll DM you, dude.
We'll figure something, uh, OTC.
I'm thinking, like, 5,000 EPY.
Um, and we can, we can figure it out, dude.
We'll, we'll, we'll get your, uh, we'll get your buddy home safe.
No worries.
All right.
We'll do it the old school way.
Maybe you don't pay me back.
Well, I'm going to fucking break your legs.
Well, uh, Mizuki 5.3 is currently, uh, currently an auction, and she's, uh, she's coming home
to Papa soon enough.
Like, I'm definitely going to get this one on liquidation.
No one, even if you were out of your mind and wanted to actually buy out my loan for
15.4, uh, you, you can't, like, you can't.
So, it's, it's definitely, it's definitely coming to my wallet, uh, shortly.
And, uh, yeah, I'm going to have to find, figure out what, what I want to do with it.
But, just a wonderful experience.
Yeah.
So, then, so, let's talk about that real quick, Eddie.
Uh, so, so, that per, do you, do you know the terms on what that, what that person's paid
so far?
I mean, obviously, you know the terms.
Sometimes you're fucking setting them.
I just mean, like, in terms of what that person put up, and then what they, what they're losing
because they got liquidated.
Yeah, so, I could find out in a second, uh, because I'll just look at the transaction.
Uh, but they're an idiot, and they, they realize that they're an idiot.
They bought it for, I think, yeah, they bought, they paid, like, 1.14 or 1.19, like, roughly
1.2 ETH, uh, and they're definitely going to lose that.
They bought it and immediately listed it at 19 ETH, which, very aggressive, very aggressive.
So, that person's going to either have to pay me 15.4 ETH, which they won't, and, uh,
and take the L there, or they're just going to lose their 1.
Actually, they should pay me.
If this person has the liquidity, they will lose, like, 0.1 ETH if they pay me the 15.4,
and they'll lose, like, 1.2 ETH if they don't pay me the 15.4.
So, this person should, they, they should pay me.
Yeah, they should, they should, I agree.
But, essentially, that, all that's happening here is that they're just losing 1.1 ETH.
It's not, like, they're deeper in the hole of, okay, yeah, I just, I just wanted to,
like, break that down a little bit more.
Go ahead.
And I'm going to lose, in terms of unrealized value, roughly, like, 1.12 in that range.
So, we both lose.
Let's go.
Yeah, I was going to say, like, who wins in this scenario?
Oh, wait, you know what?
Got him.
Blur doesn't even have fees, so Blur's not even winning.
Literally not winning.
Literally, ETH is getting, like, sent to the ether.
Yeah, okay, well, it, it, Blur really took the, you know,
how can I shoot myself in the foot even more challenge, very seriously, so that's fun.
In fairness, in fairness, on day one, there were people that were winning in the same way.
Like, there were people that were, you know, I would, if I lent someone money on day one,
they would have probably repaid me, plus my interest, so I would have won.
And they would have probably had a successful flip, so they would have won.
And that, you know, everyone would have been all happy together.
Two wins, and all great.
But since we're on the downside, two losses, and no one's happy.
Yeah, yeah.
All right, well, look, before, before we talk about how, you know,
Paris Pacers normally, you know, do their process, I know we touched on it briefly,
but I want to kind of, like, dive a little bit into that,
because I feel like a lot of people are curious about lending,
and they just really don't know how to navigate it.
And, you know, maybe they don't have enough liquidity,
or they're too nervous about this and that.
So I do want to jump into that a little bit.
But before I go over to Zia, Habibi, you've had your hand up for a minute.
Let's throw it over to you, my man.
What's good?
Yeah, what's up, what's up?
You were saying no one wins, but Azuki wins in that sense,
just on that very tiny sale transaction fee.
But I did have a question for Jen.
For Paraspace, let's say you have a bunch of assets on collateral that have an airdrop,
and then you get liquidated.
What happens to the airdrop?
Is that also taken in that sense, or how does that work?
So the way we handle airdrops is typically through a flash claim.
So you would need to, as a user, like, trigger the flash claim to get whatever the airdrop is.
And let's say you didn't do that, and you went into liquidation, then, like, those NFTs would still be eligible for the airdrop.
Whoever picks up the NFTs, once it's in liquidation, they can go and claim the airdrop.
Which, Habibi, here's the alpha on this.
And even though it's a recorded space, no one's going to remember come time to actually use this alpha.
The alpha with this is that on days that you anticipate there being an airdrop,
you buy as many as you can, within reason, get the airdrop, sell them,
or even if it means getting liquidated.
Because let's say you spent one ETH on buying an NFT, got a three ETH airdrop.
Who cares if you're liquidated and lose your ETH?
You just got a three ETH airdrop, and you just made two ETH positive.
Eddie, I have alpha for you.
Most of the time in this space, even if they say there's an airdrop on X day, there's a delay.
So, just, you know, account for that.
There's risk.
There's risk.
But, uh...
Just a little bit.
Just a little bit.
You know, it's just a little bit of risk.
Wait, wait, wait, wait, wait.
Didn't we have, like, somebody say that if you actually receive an airdrop from an NFT that you got from the blur landing,
the airdrop actually went to blur or something, and then it goes to the previous owner?
Yeah, right now that's the case.
Blur has indicated that they will be instituting some kind of claiming feature.
How that'll work, we'll see.
But they've indicated that they're gonna do it.
No, gotcha.
I just got confused for a second.
I have no idea how they're gonna build that with the current system that they have.
Because it's, like, the NFTs and an escrow, like, contract.
Like, technically you haven't fully paid for it.
Like, it's just...
It's...
We'll see.
We'll see.
We're having fun out here.
Yeah.
Yeah, we sure are.
We sure are having fun out here.
It's only been three, four days.
And people are, like, panicking as if this thing's been here for weeks.
You know, I'm pretty sure there are probably some MFers who took out loans and been like,
oh, I'll pay this off over the next six, nine months, maybe over two years.
And we're all sitting here, like, are we even gonna be here until you?
What's going on?
You know?
And that's the beauty of it.
Like, people are so trusting of Blur, which, again, I don't...
I don't...
I'm not gonna say, like, oh, Blur won't be here then.
But, like, Blur's pretty relatively new.
So if you're putting a lot of trust into a marketplace that's pretty new, and like Jen
said, their features right now are, like, kind of really kind of basic, for lack of
a better way to say it, in the sense of that, you know, they're kind of making it complicated
for you to just do one or two things here and there.
And especially if you're someone that's new to lending, you probably shouldn't touch this.
If you're new to lending, maybe go on the safer side of things of, you know, businesses
that have been here a little bit longer, again, like Paraspace, NFT Buy.
There's always a third or fourth one that I keep forgetting.
But anyway, probably for good reason.
Let's go ahead and throw it over to Zimmy.
Zimmy, you've been waiting for a minute.
I know you got time screen space today.
What's good, my man?
Not really.
No, I'm good, man.
I had a quick question.
I was wondering, does Blur have an easy way to see how many unique wallets are participating
on both the lender and borrower side?
No, but there's a Dune dashboard that I'll pin up top for you.
Okay.
Yeah, I'm just curious to know, like, because obviously everyone has just been talking about,
like, hey, let's not use this.
Let's not use this.
Yeah, I just want to, I'm just curious to know how many people in the space are actually
interested in using this service.
Around 400.
In that range.
400 unique wallets?
400.
Yeah.
Jeez, that's half the space.
It's 469 total unique borrowers.
For the culture.
389 total unique lenders.
Okay.
Yeah.
Fuck.
That's tough.
Yeah.
No, I mean, I'm never touching that stuff.
I don't know enough about it.
Like, that's just not something I'm interested in even.
Zimmy.
Zimmy.
Let's be honest.
I don't even lend money to friends to buy, like, candy, dude.
Someone's like, yo, you got a dollar?
I'm like, no.
I don't.
Well, I'm.
What makes you think I'm going to lend?
You say that.
You say that.
I say, who carries cash?
It's 2023.
Yeah.
But anyway.
Look.
Yeah.
Yeah.
I love how Zimmy's acting like he has enough liquidity to try to get involved in it.
I'm right there with you.
Don't worry.
I'm not making fun of Zimmy.
I'm making fun of both.
Nah, bro.
He might sell the PA and get an actual, like, boat.
He's giving it away, Shotgun.
He's giving it away.
Now I'm just using it.
My man said, fuck it.
I'm writing it off.
Engagement farming this and moving on.
Now I'm just using it to reward the psychedelics anonymous community by supporting my project.
Because that's it now.
Yeah.
But the boat seems dope, still.
The boat's cool.
Anyway.
Look.
That's fucking dope.
I see it.
You're the next one up.
You've been waiting for a while.
And then we'll circle back to Eddie and to BB.
What's good?
Eddie.
About the poor guy you're about to liquidate.
I'm guessing you called back the loan.
Is that right?
He's giving a thumbs up if you're not seeing that, by the way.
Yeah.
No, I didn't see that.
So couldn't he have just picked a different loan?
Couldn't he just have accepted a different loan around the same numbers as the one that he already has instead of going the auction route?
No, he has no choice.
So after I called the loan, the loan goes into auction.
So it spends 24 hours, I think, 24 hours in auction.
And it starts at 0% APR and trends up at the exact same ETH price.
So someone else, which could be him, like he could just do it from, I guess, his wallet or some other wallet, can just go in and basically buy out the loan.
But no one has done so because it would have been ridiculous to do so.
Like it was an aggressive loan by the time I put it into call.
So no one's bought it out and it's just trending towards liquidation where he's going to have to either front the 15.405 ETH or whatever the interest is right now and buy it or just lose his 1.2 ETH.
Which, again, he should definitely buy it if he has the ETH because he will lose much less money if he buys it.
But my impression is he probably either doesn't have the ETH or won't be checking blur and is going to get liquidated and lose his 1.2 ETH.
I could have swore, I saw on the blend paper, that you can accept a loan to pay for the other loan.
So he could just like accept a similar loan, pay you off and keep that new loan that he accepted.
I mean, if he's able to find one, but there's none in the same range.
Like no one's really willing to lend 15.4 ETH on Nozuki right now because the floor is 15.28.
So like he's not going to get that.
He would have to get an external loan from somewhere else and provide something else's collateral because he doesn't have this to provide his collateral.
So he can't, like, it's extremely unlikely that this guy finds a way to pay it off without having 15.4 ETH in his own wallet.
Which he should because, again, he would lose much less money if he were to buy out my loan, but he won't.
And at least my anticipation is he won't.
So he'll lose that 1.2 ETH and I'll probably lose, like, 1.1 in unrealized value.
So it's kind of like a game of chicken where, like, whoever selects to liquidate first has a choice on which way to do it.
And you did it first.
Well, I mean, he doesn't liquidate.
He'll just buy me out.
Well, like, he'll buy out his loan and repay his loan and ta-da.
Like, we're good.
But if he wanted, before you called back the loan, he could have, like, accepted a different loan and then paid you off.
Yeah.
But, like, the thing that Eddie was talking about with the floor price and some of these loans, like, this is the exact danger of, like, high LTV loans.
Like, this is why if you go to any, like, peer-to-pool protocol, like Paraspace, we only give a certain LTV of whatever the floor is to take into account that the floor price will likely fluctuate.
And it's, like, when you go to other peer-to-peer lending platforms, you know, you are dealing with more sophisticated lenders that are, have oracles and they're looking at the floor price and they're saying, like, oh, yeah, like, you know, I'll give you 70% LTV and I'm, like, comfortable with that.
Whereas on Blur, I think you have a lot of first-time lenders that are just, like, oh, this is Blur's recommended setting?
Like, let's go.
And then they're lending.
And then, again, who wins?
No one's.
Yeah, I can't do, I'm the total opposite.
I'm, like, hmm, recommended?
Hmm, that means I shouldn't do that.
That's better for you.
What's better for me?
And then, you know, that's where I kind of get stuck.
I'm, like, nah, fuck this.
I'm out.
But real quick, so we've been talking a lot about Blur lending.
We touched really briefly on how Paraspace does it.
And, you know, Jen, you mentioned Bendow.
Oh, that's what it was.
That was the third one.
I forgot fucking Bendow.
So Bendow was the first one to do it.
And then so Paraspace was the second one.
And you, like, you said you're biased.
But I think this comes from the mindset of, you know, when you're buying a car first generation, more often than not, second generation of that car is going to be better.
And so that's the same concept I would apply here and probably, you know, what Paraspace does.
So before we go over to BB and Eddie, if you guys don't mind, I want Jen to touch on a little bit.
What did you improve upon from Bendow that Paraspace is doing better, if you don't mind me asking?
Like, yeah.
Yeah.
So while we're both peer to pool lending models, the way we lend is completely different.
So we are a cross margin NFT lending platform.
And all that really means is you can actually collateralize your NFTs and ERC20 tokens.
So if that's ETH, USDC, USDT, wrapped Bitcoin, we have a bunch of ETH derivatives.
But it's like you can basically collateralize these two different types of digital assets into a single portfolio to lend and borrow against.
And so when you do that, each asset has collateral value.
And that collateral value essentially makes up a credit line.
So think of it kind of like a credit card.
It's not quite like a credit card, but same idea with a credit line.
And basically, you can take that credit line and you can borrow any of the ERC20 tokens that we support.
Or you can go use it for buy now, pay later.
And what's really cool about it is whether you're borrowing or using it for buy now, pay later.
Let's say, you know, your only job is to, one, make sure your health score is above one.
Because at the moment it drops below one, you go into liquidation.
And there's a ton of ways that you can manage that.
You can gradually pay off some of your debt at your own time and at your own pace.
Or you can supply more collateral and increase your credit line.
Because let's say, you know, you borrowed some ETH and you went into a meme coin.
And that meme coin is like on its next leg up and you're not ready to sell.
And it's like, oh, but I have, you know, another bean or an other deed sitting on the sideline in my wallet.
Let me just supply that as collateral to increase my credit limit to get myself out of like the danger zone of liquidation.
So there's like all this flexibility that comes with a cross margin model versus isolated margin, which is basically can be boiled down to one loan per NFT.
And Paraspace right now is the only cross margin platform.
So blend, perpetual peer-to-peer isolated margin.
Bend down, peer-to-pool isolated margin.
And that's really, you know, I would say the biggest differentiator is like fundamentally and foundationally how we do lending and borrowing is different because of our model.
I love it.
I love it.
But, you know, this is free advertising for Paraspace, you know, I'm just waiting to get hired.
You know, Jen told me the other day, it's basically guaranteed.
I just got to wait for Eddie to set the job offer, too, because it's a little bit of a package deal.
We live 10 minutes apart.
So we were like, OK, well, we can make an office somewhere in the middle so that we can, you know, be like working from the Paraspace office.
You know, I like how Santa is like trying to hype this up as like it's a package deal.
It's more like that.
That's why we never get hired.
Well, you know, you know, sometimes you just got to shoot your shot.
So you plant the scene.
We never get hired because Santa put people on the spot for no reason.
I didn't put her on the spot.
I did not put her.
I put Paraspace on the spot.
There's a difference.
There is a difference, Shaka.
There's a difference.
I'm not saying, Jen, will you hire me right now?
No, that would be fucking cringe.
And I would end the space on myself.
So fuck that.
I'm just planting the seed of idea.
And that way, you know, if something comes up, if something comes up, I'm here.
I'm here for comfort.
I'm here to help the smaller brains, you know, because I am the smallest brain out here.
And that's OK.
I accept that.
If you know what you know, you know what you don't know.
And that's where I sell.
So, Eddie, without further ado, you got your hand up.
What's good, my man?
So, OK, I got a question regarding Paraspace.
And then I've got thoughts regarding Blur.
I guess for Blur, like everyone, a lot of people have either questions or essentially what everyone wants to know is how do I make money with Blur?
And I've been thinking about it.
And I think I kind of know how, but it's very difficult.
So, so here's...
You don't say.
Yeah, it's extremely difficult.
So, the way that you're going to...
So, you're not going to make money off of the interest of the loans.
At least as of right now, you're not.
Because it's hyper-competitive at 0% APR, which means that you're essentially not going to have any reasonable options.
Because, like, maybe, you know, maybe around, like, 14% APR, here, maybe around, like, 14 ETH LTV, which, or 14 ETH in terms of how big your loan is, which is probably around, like, 90 to 95% LTV, you are going to have at least some APR there.
But the amount of APR that's going to be acceptable for a borrower versus how much should genuinely be acceptable overall is still so low that you're unlikely to ever get those...
Like, that you shouldn't be lending out there.
So, how do you make money?
In my opinion, there's a couple ways, and it namely is just farming the token.
So, like, if you put loans at, let's say, 11.4 or 11.5 ETH, 0% APR, you're likely to get hit in that range.
But you're going to want to instantly call those as soon as it hits the 24-hour mark and get more, like, get your ETH back as soon as possible.
Which means, in all likelihood, you need to have at least, like, 100 to 200 ETH in one of these pools to be really taking advantage of that.
Which means that you should probably, if you have anything less than, you know, let's say, 100 to 200 ETH, you're probably going to want to do something else with your ETH.
Namely, either A, use it in blur bidding, which is underutilized right now compared to blur lending.
And you can also get out quicker and get more blur points.
So, even though you're spending more money on gas to liquidate yourself, or not to liquidate, to sell back into bids, you're at least making more blur bid points.
Which, right now, the going thought is around $3 to $5 per blur point, at least right now.
So, right now, like, if you're going for blur points, there's very few ways to do this without extremely high liquidity.
And you can see that on the blur loans page.
Like, you could see where there are certain blocks where people who have liquidity, where people who have lending bots have shoved themselves.
Like, someone has shoved themselves at around 11.4 ETH floor from 10% APR down to, like, 5% APR.
Someone has filled that gap, which means that they probably have somewhere in the range of, like, you know, 30 to 50 ETH, if not more, just provide, you know, theoretically providing a bunch of loans there.
Yeah, it's like, I don't think that that's where you're going to make the most of your money.
If you, there is, like, one interesting loan that's out.
So, like, there's a loan at, let's say, 12.4 right now with 2% APY.
Now, that's generally not great at all.
Maybe a better one.
I mean, honestly, there's, like, no good loans out right now.
Like, genuinely, there's none.
The best way that you're going to make money right now is off of volatility.
So, right now, there's a loan, let's say, at, like, 14.5 or 14.6.
Your best bet is to put out a loan in that range and hope that it's taken.
Call it within 24 hours and hope that by the time that you get your Zuki, like, hope that you've called it at 14.6.
Floor is 14.8.
People are unwilling to take the risk on of, you know, super high LTV.
And you basically buy a Zuki for 14.6 when the floor is 14.8.
You can liquidate it into a bid.
And you're a happy guy.
That is about the only way that you can realistically make money right now with blur lending outside of having a lot of liquidity and being able to stuff up a lot of loan offers at 0%.
Which, I mean, I don't think anyone here on stage has the level of, like, you need, like, 300 plus E, if not more.
So, I'm, like, I'm a little bit, not concerned, but just I'm going to have to hold back.
I'll probably put a few offers out at things that I'd actually be willing to have taken.
But realistically, there's almost nothing that I expect to make money on, at least for the next week or so, until we start seeing the market actually kind of readjust a bit and realize how stupid it's being with some of these loans.
Which means, like, okay, well, what am I going to do with that ETH instead?
Like, if I actually want to get into loans and lending, I would probably actually look at, you know, if you have, let's say, less than 20 ETH or less than 50 ETH, genuinely, you'd want to consider looking at Bendow and Paraspace.
Because they're providing much better yields than Blur is providing, so you're going to do better there.
The only question, and this leads into my question for Jen, is security.
And as much as I like the Paraspace, you know, UI, UX, and experience from what I've seen and from what I've heard, and same goes for Bendow, Paraspace did have a security breach in the last, like, two months.
So I want to ask Jen, I feel like you've probably been briefed on this much more than I have.
Genuinely, like, tell me, I probably do trust Paraspace, but I want to hear from you, why should I trust Paraspace in the wake of what happened, like, two months ago?
Which, for anyone that doesn't know, there was a major exploit, which was attempted to be exploited by a black hat.
But they failed, because they were stupid, and then I fixed the situation.
So why should I trust Paraspace right now?
Yeah, and look, like, I'll just, I'm going to tell you what we've done since then, and some of the adjustments and changes that we've made.
And ultimately, it's going to be up to you whether you trust us or not.
I'm just kind of here to present the facts.
Like, basically, what got exploited was actually within our C-Ape contract.
We have C-Ape, which is a derivative token for Ape, which allows us to do the auto-compounding Ape staking that I would say Paraspace is probably most well-known for,
just given the sheer amount of Yuga asset holders that we have on our platform.
And so when that happened, it became very, very clear to us pretty quickly that the only thing that was at risk were ERC-20 tokens.
NFTs on our platforms are safe through the way we've designed our derivative tokens.
Again, like, the derivative tokens you get when you supply your NFTs are the exclusive keys of transferring out your NFTs from Paraspace.
So even if someone was to exploit the platform, they wouldn't be able to move any NFTs.
The only time that can happen is if your wallet that holds the derivative token is exploited or hacked.
So that's on the, you know, that's on the NFT side of things.
One of the things with how the exploit was executed was through a flash loan.
Someone basically went and did a flash loan against a bunch of, like, staked ETH and then deposited it into our platform.
And so one of the things that we implemented as we were reopening the protocol was actually a time lock feature.
And basically for, I would say, 90% of transactions on our platform now, when you're withdrawing, we delay your withdrawal by a block.
So you might have to wait 20 seconds extra to get out your assets or liquidity.
And so this has now created a really secure mechanism for basically protecting us against flash loans.
Additionally, we put in a time lock for, you know, large withdrawals.
So let's say, you know, you make up more than 5% of the ETH pool.
If you were to withdraw that entire amount, you would be subject to a six-hour time lock.
This way we can basically review the transaction, make sure nothing sketchy is going on, and then approve it.
I do understand that, you know, there's been a lot of conversations around, like, well, do you guys lose composibility as a platform by doing this, etc.?
Like, for us, we're kind of going more for the approach of, we think that this better protects everyone.
And, you know, where I know there are other protocols that you can go to where it's like, yeah, you can get, you know, you know, $2 million in two minutes.
And that's one of the beautiful things about this space.
But, like, for us, we kind of realize that it's like a six-hour delay for such a massive withdrawal.
Shouldn't be that big of a deal.
And we're keeping a keen eye on community feedback, so that way, as if people are really, really upset about it, we're obviously going to explore other options.
And so the time lock is something that we're constantly improving on.
Additionally, we did create a strategic partnership with Secure3, which is, you know, the auditor's auditing platform.
They basically host audit contests in the same way that they do for bug bounties.
So, really, White Hat and some of the industry's best auditors work under that brand.
And we have a strategic partnership with them.
We also created a strategic partnership with BlockSec, which is the White Hat auditing firm that was able to rescue the ETH.
And so with both Secure3 and BlockSec, we're working on a couple of different things.
First and foremost, any time we introduce new code to our code base, like even before the hack, it would be audited by multiple parties.
Now, Secure3 and BlockSec are long-term auditing partners, so they're reviewing everything before we implement it.
Additionally, with BlockSec, we're actually working on building a real-time threat prevention system.
So that way, we can basically take advantage of how they were able to detect the attack on Paraspace and just make that native to the Paraspace platform.
We also have two bug bounties active, and we increased our max bug bounty from $20,000 to $200,000 per critical price.
Damn!
Yeah, so that way we can incentivize hackers, instead of trying to hack the platform and go about it the illegal way, where they're going to have to figure out how to wash all that liquidity.
It's like, why don't you just work with us on building a more robust and secure platform, and you'll get $200,000, and it's completely legal.
So there's that aspect of it, and we're also building out a security council of which both BlockSec and Secure3 sit on to basically advise us on not only our development practices, but our operational security practices as well.
So those are some of the core improvements that we've made since the exploit, and these are things that we're going to continue to improve.
You know, the team right now, Paraspace, basically up until today, had no fees, no revenue coming in, and now that we're going to be turning on fees, we're actually also going to be expanding the team and specifically building out a security team.
So alongside the real threat prevention system that we have in development with BlockSec right now, we do want to have a team of Solidity devs in every single time zone.
So that way we have people who can actually, in real time, also monitor what's happening on the platform.
And then we have been interviewing folks for the head of basically security and Solidity to come on board.
And, you know, we're not advertising this, because we are in conversations with several people, but like, we're looking for someone really senior.
It's not like we're just like, oh, you're a young fella who graduated with, you know, a degree in security, and maybe you have like a master's degree.
It's like, no, we're looking for industry veterans, and the salary that we're looking to offer them is representative of that.
So, you know, like, that's what we've done from a security standpoint, like, I will say, we're still a small startup.
You know, the team is about 30 people with majority of that actually on product and engineering, like, I'm the only dedicated marketing resource at Paraspace to kind of give you guys a scope of how small our actual team is that kind of handle the day to day operations.
And so if there are additional improvements, or if there are other things that you would say that's like, hey, this would make me feel safer on your platform, we're always open to hearing, hearing it and seeing what we can do to execute.
Another big point that has also been brought up is like insurance for the protocol.
We are talking with a couple of different potential insurance providers.
We actually were going to be working with one of them right before the exploit.
And then once the exploit happened, they completely changed the pricing model to something that was just not that we could afford.
And, you know, it makes sense.
They're like, you just got exploited.
Like, this is obviously a much higher risk.
But we are currently talking with a couple of other providers and exploring that opportunity to at least either provide insurance ourselves for all of the users on Paraspace or giving Paraspace users the option to purchase insurance.
Wow.
Okay.
Look, first of all, yeah.
All right.
Well, we have a new aim.
We have a new aim in life.
And that is to, you know, work our ways a little bit towards getting a job at Paraspace.
Eddie and I are going to put our brains together, figure it out.
That being said, first of all, I also just figured out why I just remembered why engagement is a little bit down across the board today.
And that's because Wall Street Bets, the coin, SWB, loved last night while we were all sleeping.
And one mod took out too much money.
And now there's a second mod trying to do damage control to get the funds back.
I swear to God, you can't make this shit up anymore.
People don't understand, you know, fucking market cap.
Like, it's crazy.
It's crazy how people just overlook that.
But real quick, Eddie, I know you asked a question, but I want to throw it over to Demon because I know he's like, you know, he's in the office.
I want to make sure we got him while we got him.
So, Demon, what you got, my man?
Yeah, I just wanted to, yeah, double down on what Jen said.
Like, you know, thank you for all that information.
It was amazing.
But also just want to shift the topic real quick to give everyone an update.
I pinned something at the top.
And no, dude, don't laugh, Sanza.
This is actually a safety thing.
All the board apes that, like, you know, randomly like all our comments, they have all been exposed.
They were behind that token that dropped today, Yoda.
So, be careful with that one.
You know, like, read that thread.
It's crazy.
But, yeah, I just wanted to update everyone.
Yeah.
Yeah, you know, it's funny.
We'll all talk about, you know, Eddie was talking about, like, oh, how to make money with Blur.
Like, you have to be really intricate.
My man went into detail.
It felt like a five, 12-step process there.
And then on top of that, he added, and that's it.
You get really lucky.
And we're all like, okay, okay, we got to make sure we get really lucky.
Okay, we got this.
And then, you know, Demon coming in with that.
And these motherfuckers are just straight up like, yeah, I'm making money because I don't have morals.
And I got a gold checkmark and a square.
And I look real pretty.
So, anyway, that being said, just get out of the coins.
That's my little alpha there.
I'm going to go ahead and throw it over to Eddie real quick.
Eddie, what you got, my man?
So, my last question here, and I'm being tough on Jen because, I mean, frankly, I'm considering moving, like, a healthy amount of capital through Perish Base.
So, before I do so, I'd like to, you know, ask a question or two.
Oh, that voice cracked.
Wait, wait, Eddie.
I'm sorry.
Hold on a second.
I forgot that I asked the question of the day earlier, and I want to read, like, there's only four comments.
So, let me read those real quick.
Yeah.
I mean, it's exactly what we're all thinking.
You know, Dash said, no, never.
Maybe if I was super rich and had nothing else to do, though?
Question mark.
Yeah, that's fair.
And then, Justin said, no, there's too many risks involved.
On the complete opposite side of that, someone said, yes, just straight up yes.
They would just buy an NFT for the purpose of lending.
And then someone said, it depends on what I was earning before.
Okay.
Okay.
That's a logical answer.
Yeah.
Go ahead, Jen.
Well, question.
When you say, would you buy an NFT for the purpose of lending?
Do you mean, like, to borrow against that NFT and, like, access liquidity behind it?
Or, like, because I don't know how else lending with an NFT would work out of curiosity.
Yeah, no, that is a fucking great question.
That is something that I, you got.
I think he means, sorry, just quick.
I think he means, like, lend it as if somebody does buy now, pay later, and they're giving you APY, like a very high APY.
So you're lending the asset, and they're probably not going to buy it.
Yeah, you would be lending the ETH, though, to earn the APY.
You typically don't earn APY.
No, no, no.
Somebody's, okay, so no.
So you have an Azuki.
Somebody gives you two ETH, and they're paying.
So they give you two ETH, and they're giving you an APY.
That's what the buy now, pay later system is.
Yeah, I was the boulder who came up with the question of the day, and that's what I meant.
Yeah.
Yeah, it's confusing at first.
I had the same thought, like, you're not actually lending an asset, but you kind of are if somebody does buy now, pay later with your asset.
Because you're receiving money, and you're receiving APY.
Yeah, yeah, clearly, clearly next time we'll reevaluate the question of the day with the fucking guest speaker first before posting it.
So that's a lesson learned from today's spaces for me.
Jesus Christ.
Hey, it's okay.
It's okay.
I've said it before, and I'll say it again.
I know what I know, and I know what I don't know, and that'll make me better out for all of it.
Eddie, by all means.
Yo, Sansa, you remember location, like, kind of put Hisuzuki, he got .01 in exchange.
So that's what I meant.
Would you buy an NFT for that purpose?
Okay, so there you go.
There you go.
There's a clarification.
Next time we'll figure out how to work it in the actual question of the day.
Because, you know, it's just complicated.
By all means, Eddie, you are our last question of the space before we start wrapping it up.
What's good?
I mean, the better way to ask that question would be, like, would you want to buy NFTs with leverage?
And the answer is yes, and I plan to, or at least am likely going to.
So I guess my actual, the question that I had for Jen was, I want to reiterate something that the founder of Vendel had to say and get your take on it.
But it is of his opinion that the fact that you guys are adding in time locks and limitations on, like, how much you can pull out in any one.
Both, like, you're basically blocking flash loans and you're adding time locks and limitations on how much you can pull out at any given time.
That whole concept, to him, indicates that you guys don't know potentially where your faults may lie.
Now, you kind of answered that with saying, like, you have multiple new auditors that have partnered, including, like, a massive auditing firm.
Great.
BlockSec plus the communal, like, competition-based auditing.
Big fan.
Big ups.
But my question is just, like, how would you respond to that?
Just off of that as, like, a concern.
Yeah, well, what I would say is, you know, our entire protocol prior to the exploit was audited nine times by five different auditing firms.
Some well-known, like, we had Certiq.
We had Secure3.
We had Trail of Bits.
We had Paradise.
And, like, we even had OX Quit audit the entire platform.
And so it's not that we don't know where the faults lie.
Like, we actively work with auditors and we have a really, really incredible solidity team.
It's more or less that it's, like, we don't know how exploit, like, how complicated Black Hats could potentially be with exploits.
And it's, like, we'd rather ensure that we're protecting user funds than, you know, than the possibility of losing them.
We're trying to take a proactive step towards security as opposed to, like, hey, we got audits.
We're good.
We're done.
Because that's what we did before.
You know, like I said, even prior to the exploit, any time we introduced new features, like, the ape staking contract is really what was audited.
That was audited twice.
And, you know, it's, like, one of those things that sometimes even auditors, even the industry's best people miss things.
And that's why you buy insurance, like you said, which is bullish.
Like, it sucks that you guys are going to have to pay a premium after that.
But, yeah, please get insurance.
That's big ups on that.
Yeah.
And look, Eddie, like, I'll keep you posted where in conversations it might be a couple of weeks.
But the way I see it is, like, Paraspace isn't going anywhere.
And if you want to wait until we have insurance to move over, like, dude, you do you.
Like, these are your assets.
And you need to handle them how you think is best handled.
So there's, like, literally no rush.
You know what I mean?
Well, the rush isn't on Paraspace.
It's on external factors.
I think you know exactly what I'm referring to.
So that's the rush.
The macro crisis!
No, it has nothing to do with the macro.
In fact, it's as micro as possible.
But, yeah, there's...
Yeah, yeah.
There are a bunch of...
I was trying to add some dramatic flair.
You know, maybe a sudden explosion of a thousand people would come in for that point.
But, hey, it's okay.
We try to make it happen.
But, anyway, go ahead, Jen.
Yeah, the last thing that I also wanted to just note is, like, I'll be honest.
Like, I'm not a dev, but I do know that our contracts are very, very complicated.
Because we are trying to do something that hadn't been done before in Web3.
Which is this whole idea of, like, cross margin for NFTs.
It exists in the DeFi space for ERC-20s.
But it's, like, taking something new and translating that for new assets.
It requires experimentation.
And we're going to do our very, very best to make sure that, like, our users are as protected as they can be.
But, like, with experimentation comes new iterations and it comes new ideas.
And I think, like, we're out here trying to push the needle.
And, you know, I wish I could respond to Pirate directly.
But he has blocked the entire team in Paraspace accounts from seeing his tweets.
So, like, we can never really have a conversation.
It's just a one-way street of him bashing us, which is fine.
You know, like, we're focused on building.
We're not trying to get into, like, petty shit.
But I'll be petty here for a second.
You know, we just flipped their TVL yesterday.
And we've only been around for five months.
So, it's like, hey, Pirate, what have you been doing for the last year and a half, two years that Bendow has been around?
You have made no iterations on your platform.
And you're trying to penalize us and talk shit about us because we're trying to push the needle forward and do new shit.
So, also, how many times has Bendow been audited?
Oh, wait, your contracts are much more simpler than ours because not as many features as we have.
Preach! Preach!
Oh, I just scared my dog.
But, yeah, no.
I think that's funny because that's why this space as a whole in general just needs to mature a little bit to the point where two businesses should be willing to talk to each other and see if there's anything that they can do to make each other a little bit better.
But instead, you'll always get some MF-er that decides to dive into the drama, reality, trashy TV show side of things just to spark up some engagement or try to bring more eyes to them or in whatever way.
But I can appreciate that, Jen.
I really can.
And so, I love this.
You know, guys, thank you again.
We went 15 minutes over.
It's fine.
It's fine.
We had a slow start.
That's okay.
Anyway, you know, Jen, once again, just let me know when you're ready to hire Eddie so that Eddie can hire me.
And then I can just say that I'm also officially working for Paris-based as well.
No pressure.
You don't have to talk about it now.
We can talk about it later, later, you know, like in two, three, four, five hours.
It's up to you.
Anyway, no, I'm just kidding.
I love you all.
I appreciate you.
Jen, any other closing remarks that you kind of want to add in before we close this out with this, you know, banger outro song?
That I've got.
What's going on?
You know, I just want to say, guys, like, thank you for the warm welcome.
I've been on spaces before, but, and I've been a lurker of some of these spaces and being able to speak with you guys on spaces earlier this week and just how kind and nice you guys are.
Like, I've always been a little bit intimidated by joining spaces like this, mostly because I, at least when I'm, like, talking to the Bored Ape community, I'm not an ape, but I'm, like, Paraspace.
Like, it's a little bit easier for me.
But you guys have been so incredibly welcoming, and I'm really excited to jump into more of these spaces and get more immersed in this community and interacting with you guys outside of just the timeline.
So thank you for having me.
No, thank you.
Thank you for teaching us smooth brains, fellows over here.
Well, besides some of the speakers up here, some of you big brains as well.
But I think I speak for myself as shotgun when we say our brain size increased a little bit more today.
So thank you for that.
You know, shotgun's a bean, so I'm not sure how much bigger his can get.
But, hey, shotgun, any other closer remarks on your end before I get this outro going?
Yes, sir.
Sounds like how tall are you.
Okay.
Okay, well.
Maybe my brain's not that small, huh?
That's so weird.
Oh, wow.
Damn, he bugged.
That's so unfortunate.
Hold on.
Let me try to bring him up.
Let me try to bring him up.
Can't believe he bugged.
It's almost like Twitter just told him to go fuck himself with that short King Slander.
Crazy.
Crazy how that works.
But, yeah.
So, you know, I'm clearly 6'5", shotgun.
Like, just like the rest of all of them.
And then I'm 7'4", 10.
No, for real, though.
This is Presley's shot.
We go out every day, Monday through Friday, 1130, all the way to 1.
Jen, thank you so much for coming.
We definitely appreciate you more than you know.
Definitely got my brain a little bit bigger, even though Slander say I'm too small because I'm a bean.
But we don't care about that.
However, tomorrow we have another Bangor Space, same time, same vibes, with the legend.
And NFT God.
So, if you guys have the time to pull up again, we would have an honor.
And Super Spaces.
And Super Spaces.
And Super Spaces.
So, you already know vibes are going to be high again.
So, yeah.
Thank you, everyone that attended today.
It means a lot, really.
As Sunza mentioned at the beginning of the space, the competition is real.
There are a lot of great spaces going on at the same time as us.
So, if you guys chose to be here, that means a lot to us.
We respect you.
We are grateful.
We appreciate you.
Have a great rest of your day.
Could not have said it better myself, Shotgun.
I love y'all.
I appreciate you.
Without you, we would be nothing.
And we show up for you.
Appreciate y'all.
Let's get this outro.
Bangor!
Bring them out, bring them out, bring them out.
It's hard to yell when the bat rails in your mouth.
What's it?
Bring them out, bring them out.
Hey!
Bring them out, bring them out.
Yeah!
Bring them out, bring them out.
Hey!
Bring them out, bring them out.
VIP coming live from the VIP.
Heard the night lights all night.
Who are not meeting?
Most of the beds in the state on a seat by knee.
The whole city got pissed, heard he got three.
That other guy forgot to hit my shoulder, he not out.
Who said he's sitting there on five, so he's got three.
The king's back down.
I don't even know how to act now.
If the clothes troopers get naked for a sack down.
See a ball and money stacked all the sack down.
See a push a button to let the roof on the back down.
I'm on the road, do a show through my back down.
Mississippi to Philly, Albuquerque to chat town.
I got the crowd yelling, bring them out, bring them out.
Hey!
I'm a hot girl, yelling.
Bring them out, bring them out.
Call the toe boy, yelling.
Bring them out, bring them out.
Hey!
The black day, yelling.
Bring them out, bring them out.
Y'all, have a great Thursday.
Touch some grass.
If you can, touch some grass.
Just make sure it's with consent.
Love y'all.
Let's get out for it.
Let's go!
Let's go!
Let's go!
