Hello and welcome. Good afternoon. Good morning. Good evening to everybody out here. Thanks for joining us and thanks for listening
I believe for nearly complete. I think taiko is here. The Alex people are here
I don't I believe and then
Yeah, we should get started in a moment. I don't know taiko if you can already hear us
Yes, I'm here just a quick mic check with her down as well
Nice there. We are there. We are there. We are no great. Well another another big week in in stacks
I mean, you know usually sometimes we have some special guests on here, but I guess this time
Let's just zoom in zoom in a bit with
Three of us I guess but if anyone wants to join and hop on and chat, you know, obviously, yeah, you know, Mike Mike is open but
But but yeah, I guess always is a bit of a bit of housekeeping that that our friends from stacks ask us to do is
Is of course, this is all the stacks before so we talk about stacks defy and you know
everything here is for informational purposes only and and not financial bias, but
Yeah, I guess we should just for reduce on
Do some intros. I see that we have lost Philip quite unfortunately
Maybe Haddam you wanna you want to go first
I think maybe try to connect the stacking our accounts and then kick themselves out or something like that. Sure. We'll see
Okay, Phil's back. Okay, great. Yes, so I'm Haddam be the lead with the Alex lab foundation
And Alex is working to build a defy layer on Bitcoin
So, you know, we combine l1 assets with the stacks l2
capabilities of making them programmable and scalable
And some of the things that we've built include an AMM backs
The excellent bridge connecting Bitcoin brc20
Ethereum and binance to the stacks layer
Some infrastructure work with Bitcoin Oracle and and more things coming. I'm very happy to join you both today
Awesome and I'm back. I just got rocked momentarily, but I'm back
And I'm Philip one of the core contributors that are kiddie kohar kiddie koh is a collateralized stablecoin
So you can put your lovely tokens mostly stacks
I would say is of what our users do put them in a smart contract and borrow something as said in the form of our stablecoin
Usda we went through a huge upgrade last week our 2.0 that went really well
I'm happy to talk a bit more about that later
And then I'm also a founder and core contributor at stacking now, which is a liquid staking token on stacks
It's pretty easy if you have some idle stacks and you want to earn some yield on it
You can deposit them on stacking now and get a token called stacked stacks back and use it all throughout the fight
It's very easy at all to compounds your yield and stacks and so you get the proof transfer stacking rewards
Which is the probably approximately six to seven percent and yeah all throughout that you can still keep using your liquidity and defy
And the whole ecosystem and yeah, happy to be here
Yeah, awesome awesome stuff and yeah, I'm Tycho
I'm co-founder of zest protocol, which is a lending protocol builds built for Bitcoin the first product that we launched our lending markets on on stacks
Boring and ending with with stacks assets if it feels very similar to
And yeah before before all of this stuff. I was
One of the first people at trust machines where I worked a lot on
On the product side of the stacks and I can also upgrade
And yeah, they were all very much looking forward to and that came on testnet actually publicly this week
Yeah, I guess there's a lot a lot of stuff to talk about there right so Nakamoto testnet came out
I mean, obviously the Archideco v2 launch and we talked a bit about it last week as well
We also have a big announcement on on the zest protocol side with
With regards to our infra upgrade and so we can talk about like what the what the path looks like to
To getting many more users on board it there, which will which will start very shortly
And yeah, and I guess why I just saw like you guys announced new funding around right for that
So that's also I guess some some big big news there. Yeah, and and yeah, I guess Nakamoto testnet
I'm not anything else that we just kind of trying to get a bit of a mental map of list of things to
Well on uh on alex we also opened uh trading for the first stx 20 token. So stx s
Uh can now be uh wrapped and there's an amm pool open for it. So so that's trading
That's great. That's great. That's great
Yeah, but I guess like Nakamoto testnet. I mean maybe we should that's like, uh, you know considering stacks and you know
This is tax defra show and that this is the big thing of the year. Um
Yeah, have you guys already tried it? Have you had on or Philip?
I have actually but I have not connected my wallet. So i'm gonna be very honest
I saw seven tweets or ten tweets yesterday and I was like, this is awesome
I'm gonna try it but I haven't had the time yet, but I did open the explorer and I saw the blocks come in
Nice i'm in i'm in the same exact boat as philip actually so
Uh, yeah, we'll we'll we'll check in back next week and uh, hopefully we'll have connected our wallets and give it a try
No, that's good. But you guys have been building quite a long time as well, right? With uh,
With the close testnet that was uh, yes
Yeah, that would be our our dads on the back end
But i've mostly taken their word for it that everything's looking amazing
But uh, yeah, like like philip. I can't I don't have a first hand account yet, but uh,
No, no, it's some some big stuff, right? And then I think yeah taiko
I think one thing on the nakamoto testnet that I did see and this is important
I I believe for people listening in um, because I was a little bit confused by that as well
But it's a two-face rollout. So that's important to understand. Um, i'm for go what they called exactly a belief initiation phase and
Yeah, instantiation and activation
And so the instantiation is still I believe anchored completely to bitcoin blocks and block times and then once it's
Activated you get those faster five second block times
So if you do open the explorer on testnet with the nakamoto, um, you know api url
You will not see five second block times just yet
That's gonna come in the next few weeks and I was just a little bit. Um, yeah, like confused about that
But it's very normal. Then I read through the blog posts that hero published which is very descriptive. Awesome
You you immediately understand it then but just a little caveat for people going to the explorer
Checking out the testnet and then like hey, where are my fast blocks? They are coming but just you know, just a bit more patience
Yeah, uh, so so let's maybe yeah just put the dates there, right? So roughly, um around the 20th of april
so that's like concurrently with the hopping then the
The yeah nakamoto is instantiated, right? So so essentially the nakamoto
Yeah, like the signing comes online, right?
But there are no fast blocks just yet
And then two cycles after that right it's nakamoto is activated, right and the full hard fork is kind of complete
And then uh, so that's like roughly around we'll call it the 20th of may, right?
And then or maybe a bit earlier maybe a bit more mid-may
Um, and yeah, then then we'll have the the fast blocks
But yeah, exciting exciting times
Yeah, so I guess that that's um
That's that's that's that's definitely a big a big piece there, but um
But yeah, for the plug you guys launched arkadiko v2, right?
I mean, it was also a big week on the stacking down front, right on the crossing that sort of magical hundred million
And uh, how has everything been received on uh, on the all the loans maxed out everyone borrowed max
um, yeah, actually this is really interesting because um
I have to say there's like obviously a pre and post pre version 2.0
We were a bit more lenient in terms of usda loan and liquidity and now we have set pretty strict
Menting gaps. Um, and so if you go to the ui on arkadiko, you'll see current liquidity available and that's
usually like the last week has been close to zero and just that's just because we do want to keep usda tightly on pec and
As we see that there's a lot of like usda as we call it exit liquidity available
So people do have the option to trade easily in and out of usda and that's mostly anchored on usdc
And so the demand has been really crazy. I mean we did
I believe we bridged well or migrated rather over five point one million in usda
For about 20 million dollars in collateral and immediately when we raised the gaps like a day later
Within two hours, um, I think we we added 200k and liquidity and within three hours
In fact, it was all taken. So why is that? Why are you more conservative now?
Um, just because we need to make sure that if you say you mint an unlimited amount of usda
Say you flood 10 million dollars of usda in the market that usda
A big part of that is actually it's all leveraged, right?
But a big part of that is looking to swap that into usdc
Just because they want to do other things with it like pay expenses with it or maybe do something else with it
God forbid maybe bridge it
But but that does happen, um, or maybe they want to lp on stacks usdc or something like that, you know
They want to buy learn points. So they're just selling basically or buy me
So you're saying like someone
Basically people borrow people people post collateral market deco
They borrow usda and then to do something with that they often need to sell the usda
So that kind of creates downward pressure correct on usda which could be to go off peg. Yep
Yeah, indeed. And so we we try to control that a little bit better and it's been really successful for the past week. Um
And yeah, we'll we'll raise yeah, we don't pay
Look, it's really hard with current block times and arp opportunities to be exactly one dollar at all times
But our internal threshold is about like 95 cents and
Once those 95 cents it goes below there. It is profitable to do what is called a redemption
And redemptions is this new feature within archideco where you can buy off the usda at the open market and then redeem it
For a dollar of collateral. So one usda always gives you one dollar of collateral with the protocol
The next natural question will be where does that collateral come from?
Well, it is all coming from the collateral that people deposited inside of their faults
The the person owning a specific fault that is being redeemed against they will see a little bit of outflow of tvl
But they will get a partial debt repayment or a full debt repayment, you know
If all of their debt is being repaid
So it's kind of an uh, an exchange between usda part of the open market and the collateral that's inside
It's what liquidity does right on the clear
Yeah, we stole their design
Yeah, that's always a good
It's a good strategy. It's a good strategy. Okay, that that's that's that's cool. So so the path for having more
leverage on stacks to arkideco is basically to
Create more liquidity for usda versus usdc and then sort of select based raise the caps. Yep, indeed. Yeah
No, that's that's that's cool
because I guess that also maybe comes to the
sort of point on zest protocol right that we've been we've been working on and that we're
announcing publicly like later this week, but
But yeah for one it's like, you know opening the app up to many more users, right? Currently
We've only been able to accommodate for a couple hundred because like, you know
There's definitely quite a lot of limitations on the apis
On on stack so we need to calculate a lot of debt positions
So it's quite it's quite difficult to have more more users, but you know now we are we are we are there, right?
So we yeah, we can we can everyone who has requested early access we can
We can let in so that's um
That that limitation is sort of going away and then in terms of leverage, right?
I mean that's kind of how how we can kind of work together here, right?
Where on archideco there's kind of certain limits right of how much can be borrowed?
um, whereas with zest protocol we can create some things which you know allow for
slightly more unlimited borrowing and and the main thing that we're thinking about is uh
Or that we will be we'll be sharing with people with more people is that is stx loans against st stx
Yeah, also kind of curious to pick your brain there for that, right?
But essentially people composed st stx on on on zest protocol
Of course, you know earn extra points right for putting st stx to work in defi and then borrow stx against that
It has quite some advantages because of course you're you're quite unlikely to get liquidated or essentially like
Yeah, it will it will if you if you don't borrow a lot
Like you probably you won't get liquidated because like the two assets are so correlated
And then you could buy other tokens that you know are let's say high beta plays to stx, right?
So, you know for those those kind of going plays right and that kind of stuff. That's essentially what uh
What what what this would be interesting for?
um, and um, and yeah, it will allow for for probably for more leverage than um
Then then then an architect can be currently accommodated for through usda, right? But uh
yeah, curious if you have any any thoughts on that for that like, uh,
You know regarding the current demand for leverage, right because that's basically the yeah the extra smoke that we need here
Yeah, yeah, definitely. I like it. I love it in fact because um
You see this in other ecosystems as well like the on-chain circular economy
Uh, the currency of that router is always a layer one guest token for ethereum. That's e for solana
That's all for stacks. It's stx
And the more hands we can get on stx
Like the more, you know, we can simulate an on-chain economy
And so I really like the idea of being able to borrow stacks against my stacked stacks holdings
Um, just yeah, if you want to be a degenerate and you want to buy
I don't know leo or welsh or whatever the flavor of the day
I don't know which of the hundreds of me guys that were launched in the past month or so in stax
You can do that. Um, i'm actually a bit less degenerate. I'm more of a responsible borrower
No, i'm just like what I would do with it is um, I would
Is a responsible borrower
I try to like change my life and I need to be more responsible in borrowing
Um, but so what I would do is I would go to stacking now and um
Like deposit those stacked. Um, yeah stacks too and that creates this like nice little loop
I would have to look at the risks too, but that sounds
Pretty interesting because I can deposit stack stacks on zest borrow some stx use it stx
To go to stacking now again and like I don't know how many times you could loop that
Because you would go back to to zest right with that newly minted stack stacks
Every time the leverage gets a bit smaller relative to the previous position
But it sounds yeah, I guess one of the difficult it's definitely interesting to do looping on staking yield
One thing I would watch out for though if you're trying to do that as a responsible borrower
Is that of course, you know, there's not so much liquidity yet on on the vending market, right?
It's not it wouldn't be unheard of for like the the
Or the borrowing rates on stx to maybe go to 30 for a short period of time
Right at which point you're you're basically eating yourself because you have done all those loops
Yeah, that makes sense. Um
Is there some kind of public curve that you guys make available or is that coming? Yeah
Essentially on the on the app, which you are probably very likely whitelist for then
You can check the asset pages and there's like a interest rate curve
And currently I think to borrow stx is like 1% or something
But yeah, that's I think ustc is now 80 or something, right? So it's not uh, it's definitely unheard of that
These things can get pretty expensive pretty quick
Yeah, perhaps it's not the best opportunity in our life to look at it but just
Yeah, that's that's why the sort of you know
High beta play to two stacks right or if you buy tokens and stacks for d5 tokens, right?
Like other protocols like things that are usually when yeah, you consider high beta play to stx
And I think that's probably what the most
Suitable thing is to actually yeah be paying interest for
Yeah, no, so that's um, that's that's that and there's obviously some some some big ecosystem efforts going on towards nakamoto, right to uh
To ensure like more more stablecoin liquidity
So that uh, yeah also on zest protocol the stablecoin borrowing caps can can slowly be be lifted to allow for more more borrowing and
Yeah, more of that more of that degenerate activity that phillip is talking about but uh, but yeah right now it's uh, it's
There's not there's not a lot of not a lot of space
But you know as liquidity on stacks improves that's uh, that's that's gonna be that's gonna be exciting
But yeah, so that's some of them
Some of the sort of exciting news there
And um, yeah hadan you guys announced around right just just just now
Yeah, anything to share about that? Were you involved in the whole process?
Uh, well, I was just announced this morning
I had been i've been hearing that it was that it was ongoing for some time
But yeah that the pr announcement came out today that uh led by spartan group. We've done, um a 10 million round
So, you know, that's that's really great and helping us continue to uh to grow the team and accelerate what we've been building
Let me see some other some other milestones
So, uh, yeah, they're 33 weeks ago. I was really excited when we hit
1 billion in total transaction volume
Uh three weeks later we're at 1.3 billion
So, you know knock on wood, but looks like we're doing like a hundred million a month and uh, that's really
You know kind of mind-blowing considering we're just a few months ago. Uh, we were at so really great momentum there
Um, we were really excited to announce the the start of uh stx 20 trading
On the alex amm ducks. And so we've just started with stx s which is the
Uh stx 20 inscription and so when so that market is open on our amm
Yeah, so users can can take advantage of that and if that goes well, we'll of course have have others that are there to open to using
Um, we we we surpassed the 50k monthly users, which which was uh, which was awesome
I guess in the coming week is when I just in a few days we'll really have the sort of the start of the rollout
Of uh of lisa for liquid stacking
So one of the pin tweets is uh is a white list for those who
Would like to be one of the the early ones to to try it out
And besides that yeah, there was the the advisory we did with bts with uh with bitcoin frontier fund
But we announced that last week
Um some some partnerships with both bifrost and uh and solve protocol
Uh a bit on the on the x-link side
So so yeah, we've been yeah, you know, it's definitely been uh
Busy and a lot of buyers that we've well a lot of irons we've had in the fire for quite some time
starting to come to to fruition
And so, uh, yeah, definitely more news coming out soon. Oh, and of course, um
For the alex and auto alex holders listening
Uh, if you check out our twitter feed we have a vote now to approve
The next alex ideo candidate, uh sugar kingdom odyssey
Uh, it's a game five project. It's kind of like a web three candy crush in the way. So
You know again, that's open for our our community to review their application and their links
And uh and given uh, you know a thumbs up or thumbs down
Uh, and if that goes through then that that'll probably be be rolling out in the next few days as well
Really pretty good good stuff there and um, also we want one thing to to talk about is uh
Uh valor launched, of course, uh last week. It's going to have there's the taxpayers are are open
Um, so that's uh, there's definitely a new milestone for for the ecosystem also with their
upcoming perfect launch should probably um, yeah, maybe get them on at some point to chat about it more but um
There's also some uh, yeah, they don't support this program
I've been trying to farm a little bit here and there but uh, you know in the spare time spare time I have
But uh, yeah, that's gonna be uh, that's gonna be cool a cool one too
Definitely. So, um, let's see. Yeah
I mean if anyone wants to ask any questions or jump on like I mean
Absolutely feel feel free to any any part that we can go deep deep on you know when it comes to uh
The stacks defy ecosystem and uh, you know all of this all of this stuff
in the meantime taiko, um
Just um an fyi once he starts talking about feller. I um, I didn't really
Like talk about this too much. Yeah, but we also archa deco in collaboration with bid flow
We launched that us ec usda pool. I mean I did talk obviously about usa liquidity
But just for people who were wondering, you know where you can go in and out of
Usda at most likely the best rates on a stable swap. That's now on uh
Yeah on bid flow and um, you just go to have the bid flow to finance and there's about 900k in liquidity now
We haven't really uh pushed this too much, but we did a governance vote
and that ended this morning and um the result of that governance vote it was successful and
That means we will now start sending deco emissions to the usda usdc pool on bid flow
The aprs that were targeting there there obviously is always dynamic because it's denominated in deco and that is you know
That fluctuates that's dynamic because the deco price changes, but it will likely be around 30 percent
Um, maybe a little bit higher maybe a little bit lower sometimes
But we do want to incentivize that heavily because the live blood off
You know of our protocol runs kind of through that in that pool
So pretty important and so yeah
If you're interested in lp'ing there or just swapping in around or just having a look at it
Really, you know, that's uh that you can find it on bid flow now
It's great that's great that's great that's great that's great and yeah, I guess we'll see something that maybe a little people are
Wondering about or at least like it's sort of questions that i've been that i've been asked me a lot is about about stacking
Now, of course, right? Like it's kind of the you know, 100 million cracked there
So, you know big big milestone and um, but a little people are also wondering kind of, you know
What's what's next right? It's like what's what's kind of coming coming after this is it just like, okay, you know, well
Grow grow more or like, you know, what's what's sort of the next pieces? I mean, of course made our launch dst stacks pair
For uscc, you know this uh last week as well or like we see since we did the last show
And uh, and yeah, then also the leverage piece is kind of coming complete
but yeah, I mean philipp you want to
shed some color on sort of what the
What the road here is from here because we had a lot of chats about this, of course
Like, you know i'm sort of co-founder of stacking now and uh, you know
It's it's very uh, it's very exciting thing and really important for the stack ecosystem, of course to get bigger liquids taking around
About that. Yeah, but yeah any any any things you want to want to share about that?
Um, I do want to say a little bit but just not not everything yet, but there's awesome things coming
Um, that's actually just been audited
Completely open it's going to be ran as an open protocol, uh, and that means
Any validator or signer as we call it on stacks
Has the potential of helping us build the best most liquid deepest lsd on stacks and so
I'm going to give perhaps a bit more details later on that
for me personally, this is
I think one of the biggest things that i've undertaken in the last two years potentially even bigger than
Than our archidega 2.0 upgrade just because this is an ecosystem-wide initiative and
It really aligns all those players within stacks
Not only that it aligns it like at a validator signer level but also at an integration level
So for me as as as we build protocols like you know this perhaps not everyone who is listening knows
But for me, it's important that we always build open networks
And so when we redesigned stacking down like two months ago from the ground up
We thought how can we build the most inclusive protocol out there that we include all participants?
And not just the user depositing on stacking down
But again also on the validator I say validator a lot, but whenever I say validator you just think signer
So signers on stacks they don't like build blocks
They just like validate almost semantically the blocks, but I do use them, you know
You know synonymous let's say but anyway, so we redesigned the whole protocol thinking
What's the most open version that we can build and and what came out is is pretty incredible
We were testing that right now on testnet. I'm really happy with the early results and
Probably as soon as next week or the week after we'll see tangible results
But for now i'm just gonna say it's an open initiative and it's gonna be awesome
I know that's a bit of like a teaser, but I hope that helps for anyone listening
Yeah, yeah, no for sure. And that's also like one of them
Yeah, one of the sort of powers of the the project right that it's it's it's sort of stacks aligned, right?
And there's a lot of we saved a lot of these announcements, you know towards towards Nakamoto to sort of, you know
Talk talk really more about it
But yeah in the beginning, of course, there was a you know, a big push to sort of help bootstrap more of the stacks defy ecosystem
The day that stacking now launched right there was well, there was obviously alex, right obviously
Uh and an archideco but outside of that, you know
There wasn't there weren't sort of many many new protocols yet and not a lot of liquidity inside stacks
I think maybe tvl was that like, you know, 60 million or something on defile armor ecosystem-wide?
Yeah, then, you know stacking down launched and new new protocols were able to bootstrap very quickly through the points program
Right like say a bitflow and you know, also like the first tvl on zest protocols. It's mainly ststx, right archideco
Growing there and you know valor using the the pools and so on so
a lot of a lot a lot has happened there or like a lot, you know stacking now has been able to really do a lot for
the the stacks defy ecosystem
And help bootstrap that but now as we go towards Nakamoto and sptc more importantly
like uh, you can kind of continue that train to to help bootstrap like validators on the network further right and
incentivize the highest performing validators and
And really make them make them stacks aligned, right? Because like in many ways that you're obviously in
In in ethereum like or in or on salana you have a lot of these
Lst's and sometimes they get flack because they're so big
but you know what really is important for for for the lst protocol is that it's obviously governed by a
Benevolent community towards the towards the network, right?
And that it's super aligned with with the network to help build it out further not just like in a tvl way
But also to help bootstrap, you know validators, you know, get the right validators the right amounts of stake
And uh, keep keep the network keep the network healthy and sl3 as as possible
So that's going to be a really big a big push and a big big commitment. I think yeah
Yeah, the stacks gets bigger as well
Yeah, for sure. No, I think you you nailed it there
Thanks for adding some color and just last thing I want to say is out of the roughly 110 million dollars in tvl
It's pretty interesting to see kind of like a pie chart of the distribution where um
Stacks tax the token is being deployed by by participants in the market and about
20 million dollars of that a little bit less is an archideco about 40 million maybe a bit higher actually
I need to recalculate it but there's on bitflow
So 60 percent is then into protocols. There's a bunch in zest two. There's a bunch now in feller
Yeah, and so I think what would be helpful for for the ecosystem
Is to show that pie chart to see those deep integrations that we're building over time
That's just kind of popped up in my head just now
But yeah, just just to show that we're doing that in the in the in the telegram chat
Maybe we should uh, should tweet something later today
That's true doing live marketing on the stay xp fight show
No, some good some good some good ideas there that um
No, that's that's great. That's great. That's great. That's great. And uh,
Anyhow down like I mean for for alex, right? I mean there's macromoto is going to come up. Um
does that mean that like is is alex tech's going to go undergo an upgrade or
um, is that already done or what sort of your
Do you have like your plans for nakomoto? I guess there's like a lot of new users that can come in, right? There's a
Big marketing push that that we can all do that together
So around nakomoto we we passed a governance proposal
To adjust our our emissions around the release
uh, and so just among the
Among the points listed is that
For for a week before and one week after we're going to to pause
That's just to to allow for for a smooth transition
On the on the back end while you know, our devs are burning the midnight oil
Um, we're doing a little bit of a uh, a reconsolidation
Of of the emissions on the on the platform
Um, and so it isn't necessarily anything controversial. I think really
Our biggest focus is just to ensure a smooth continuity
Uh and going from pre to to post nakomoto release and so
That's what we're, you know, mostly prioritizing
um, and then uh, you know post nakomoto
and uh, especially, you know what the as we move towards the the
The five-second transaction times which will then be uh, you know fully instantiated in may
Um to you know to really make our most aggressive marketing push there
Because I think that's when we're likely to see uh, you know the highest amount of of user retention
For those who come and see that, you know now
Both in terms of user experience and in terms of fully expressive smart contracts
Almost literally become a bit of an ethereum on on bitcoin
Yeah, I think it'll be it'll be a pretty
Uh, you know, it's hard to even
Uh to to even conceptualize, you know, uh, really expect really sort of great things
but uh, you know, I think after
After after, you know the the sort of years of using stacks
It's uh, you know if there aren't the the bitcoin block times
It's like it's like stacks. Do I even know you?
So it'll be a little bit of a of a rediscovery of the experience on the platform and it'll be it'll be really great to to see
Uh how things how things shape out dynamically, but but yeah, I think that's really sort of a new beginning
And uh, you know if there was it's almost a stack 3.0 in my opinion. So
uh, yeah, so that and then
you know, uh, oh and then uh, uh kudos, uh taiko to the to the the thread you put out about the sbtc
A bit earlier. I think that's that's very helpful
Um and also reveals, you know, because I think that gets lost a bit with all the the the mic the nakamoto hype
Um, and I think that the stack foundation it was it was very smart to prioritize the nakamoto first, especially around the halving
Because user experience is really such a massive part of adoption
When you sort of dig into the details, it's it's really it's it's also a really impressive innovation that stacks is doing
And having the most trust minimized representation of bitcoin in a smart contract chain
And so yeah, really really a tremendous couple of months, uh coming ahead
uh, yeah, I guess, you know, we'll keep our our heads down and keep working and uh
You know and as I say kind of like a hold on to our socks, uh, you know
Not get our minds blown too hard as things all the pieces fall into place
I think that that sums up pretty much how uh
Our feeling feeling as well and remember we talked about this at some time
On uh at some point on uh on the stack defy show that you you guys are keeping very close tabs
Of course on on all the other bitcoin howto's right as as rv
um, you know for for on the excellent side and the bridging and so on but um
Is is that is that something that you guys are like kind of actively considering like I guess other bitcoin
L2s might might might be sort of talking about, you know a version of the alex dix on other on other chains and so on and uh
We remember chan came on last week. He was sort of saying like well, you know
other a lot of other bitcoin l2s are kind of
You know ethereum l2s with a with a multi-zero btc attached to it or something
I was just kind of curious like what yeah, if there's any what kind of mental model you guys are kind of using using for that
Yeah, so uh, you know, we have those sort of like ongoing, uh conversations, um
With a lot of those l2s, uh, and a lot of those occur on the uh on the excellent side
Um in terms of uh of creating bridging partnerships
Um, you know some are uh on on on ido potential
Um, you know our I would say that um in our head spaces that were we're absolutely open
uh and integrating any nel2 that would like to come to alex to
You know to to bridge over and uh, and you know have uh,
Take part in the in the aggregate liquidity of the platform
Uh and have a two-way user flow
You know between the the you know, alex and the stack cell two and uh and other l2s that are that are out there
But I think uh at the moment, it's still I think it's still it's still a bit early where
Uh where we're keeping an eye out to see how the how the progress is and uh as as test nets turn into main nets
How how user and community adoption, uh is responding
but uh, yeah, we're keeping our ears close to the ground, but um, yeah, I think
at least at the moment where we're sort of
Uh, I I guess busy just around preparing for for for nakamoto
Uh and some other features that we've been building for some time
But yes, as soon as the the l2 solutions become increasingly viable
Um, yeah, we'll be we'll we'll be knocking on their doors as well too
Uh, because you know, I think I think it just makes sense. You know, it's uh,
I think we all we we all benefit more from from collaboration and
Uh bitcoin d phi is definitely a big enough pie
Uh that there's there's a you know, a niche or slice for everyone
And you know as mentioned even with the with a with with the with the evm l2s
If those are a catalyst to bringing more ethereum users
To bitcoin and other bitcoin l2 such as stacks
Uh, I think you know long term. That's that's definitely a boon for us
So, um, yeah, so we we have a lookout for that. Uh, we're also very excited
Uh with uh, you know one of one of the guests we've had in the past the zeus network
Which uh would be uh, you know, like a a stacks salona bridge
Uh, that's that's a project that where we're we're we're really keeping close to and that we're really excited
And that uh, you know, I think maybe for this cycle those might be you know, two of the biggest narratives
Uh, and so if you can marry stacks and salona
Uh, yeah, you know, I think it's it's hard to contain the sort of bullishness there
Yeah, I think definitely a lot a lot a lot going on
And uh, yeah, yeah, we'll take it, you know, like uh, as with the show a week at a time
Uh, you know keep our heads down build make progress
And then you know as everything comes together
It'll be you know each time just uh, I think a bit of a almost like a hockey stick like graph
As we see just the adoption and integration really take off
So yeah, you know good things ahead
No, it's that's good to hear and um, yeah kind of good metrics using there for uh, you know
Getting getting people to prove something first, right? And that's uh, I think that's that's very much how we see it as well
I saw I saw hero gamer was like, you know putting up all the all the emojis in the in
from the listener section
Exactly also on the nakamoto having the the vote passed right as well
Maybe there's something something you want to say there, but you know if we don't
Yeah, we can get something else up here if you're busy
Yeah, and hats off to hero who's been pushing the nakamoto vote for for quite a while
Well done with uh, all the all the pushing for the for the nakamoto vote it went through and
That was weeks and weeks of effort by you. So, you know, so thank you for uh, for really, you know, driving driving that home
Yeah, no. No, thank you guys for helping to tweet out
Uh, you know remind people so yeah, it went pretty well this year. I think
Yeah, I think it makes sense to
Um that different communities like yourself
Sort of take a little bit of attention for this and I know you guys also held your internal votes
So we don't want to overvote because there's something in the crypto space. They they call it like uh,
Like voting fatigue or something and yeah, we don't we we don't want
Too much vote at the same time, but uh, I think you know important votes like this really helps to
Decentralized ethos because it is what makes stacks
Little bit more unique compared to other spaces. Um, even the min coin founders
They all really take that ethos into their hearts in stacks. So
Really good leaders in this space who really care about decentralization in my opinion in sex
Yeah, thank you hero. That's that's head on that's right on that's right on and um
But here we all want to know
Do you know who these who the 1% or less than 1% of people are that voted against the nakamoto upgrade?
I think that's actually oh, yeah
I replied to one of the guys in uh, it replied to minib's tweet
And he said yes, I voted and I said why?
He said oh he just want to mark it all basically in history book
You know that he's different. He voted against and it's forever there and he made his mark on the blockchain
Just the the historic contrarian there was someone who
Believed in keeping it slow
Yeah, I mean some artisan, you know artisan blockchain experience right like at some point probably uh
That's probably what it will what it will what it will become right when speed becomes so um, you know
The slow life right on the slow blockchain would be um
Yeah, it'll probably be worth something
Well, no topic just a a comment. I want to bring up
Uh, just just so we're here because i'm starting this community fund again, basically
Of like not a lot of money, but uh 50 grand and it's gonna go like all over stacks space
uh, whether it's defile bns or you know, nft or
infrastructure or whatever community decides to allocate
So I was thinking like if if you guys come across any good proposals for defy to help
initiatives whether it's educational effort or
marketing effort or some little
Infra that just has to be built
but uh, you know preferably
Somebody else build it not yourself
Then do like uh, let us know and we'll start hosting twitter spaces
and we'll probably try to
develop some of these ideas
Because sometimes initial ideas aren't the best idea and only helps when people talk about it
So just want to put out there on your radar
And these are this is a grant from this tax foundation or yeah, yeah, okay
Because you have the the main grant which is called critical bounties
But those money tend to go towards, uh, you know very specific infrastructure
build and then any anything else basically don't have a home right now
And then the next best home is basically this uh decentralized grant small grant if you like
There's a big grant and a small grant
So whatever we can leverage
for different areas in stacks
Yeah, and I would have to think about a bit more. I mean obviously like
Stacking now came out of one of these critical bounties, right? It was like hey
We want we want an lsd on stacks, right?
Because liquid staking just became possible right in yeah, I think in late may right with stacks 2.1. So it was really yeah
Yeah, there's a lot of lot of lot of really great things that can be can be kickstarted here
I think well sort of thinking yeah, go ahead
Will is thinking about critical ground basically will manages that and he was also brainstorming idea
Oh with the codef like what can be?
What can be the proposals for the next round of critical grants?
So he's actively thinking about next idea next more expensive ideas, I guess
So the lower hanging fruit, uh, you can come this way
Uh, but the bigger ones go to him
Oh for sure is is there anything anything you're thinking about there for the minimum remember we were you know
Talking about thinking a bit about or oracles, for example, maybe something in that direction could be could be relevant
If it becomes specific to mind, otherwise, you need to get back to hero at some other point more collected thoughts
Yeah, nothing on my end that speaks to me at this very moment, but uh
Uh, it's it's an awesome initiative
You know everything i've done on stacks has has come out of a grant from the foundation. So, um
Really appreciate that for obvious reasons. Um
Both for eyeballs I would say but also for financial help. It's been really helpful in those early days and uh
I I often nudge people to with some ideas to go to the foundation. So not specifically on this but anytime so
Yeah, i'll keep pushing deaths to do the same but um
Nothing specific comes to mind today, but i'm sure things will in the next few weeks and months
Oh cool, that's that's some good
Very good stuff. I think um, yeah, maybe we should sort of slowly round things off
It would be like, you know, it's it's quite unique in this to the defy show that we that we are able to finish on time
Um, yeah, what do you want to say?
uh, well, I I just was thinking, um
You know in in case either of you can maybe answer the question
you know, well if with other with with nakamoto release and
Then at mid-may if we have those those five second, uh block times
Um, I think honestly no sooner will we have the five second block times that people are likely to want things to be even faster
Uh, well is is the is the subnet idea?
going, uh post nakamoto release where
Dedicated subnets might have speeds that are even faster. Just you're just wondering out of curiosity if
If either of you had some insight into that
Yeah, I mean the stacks architecture is still like built for scaling in in in subnets, right?
So yeah that that would that would make sense right because like, you know stacks nodes themselves like are
Kind of designed in such a way where they uh, yeah, they don't they don't sort of have huge
Data requirements, right which also means that block space is scarce
So if really stack starts popping off then I think that that demand will uh will probably increase again
But uh, but yeah, I would have to um
Would have to look a bit deeper into it. Uh
Again, but I would you know just from fundamentals. I would assume that you know
But nets is still is still very much the future for for scalability, you know
If makamoto obviously becomes a huge success
Excellent. All right, then no sooner. Do we get five second block times then we start a campaign for
So I think that'll do a potential progression. Yeah, I mean five second block times will be there
But they they might they might get expensive, right? So that's right. That's kind of the question
But you know for now for now, it doesn't you know, there'll be a lot of fun to be had so
good good good stuff, I guess um
You know should very quickly uh
Sign off let people know where where they can find us
and uh and what they what they should do I guess
Maybe here. Oh, do you wanna
I'm not sure what the next the next next sort of step is for for you for you after if you're doing on a short
short break or there's already the next
Next thing but um, but yeah, I reckon people find your work and uh
And and and stay in touch
Yeah, just uh, follow me on twitter. Um, i'm gonna be hosting
daily twitter spaces almost
I'm, I want to collab with more people
Um, so I think each day will have like a different topic and different topic
Is for the different categories of the grants say nft or defi and bns and all that
Um, so yeah, just just follow me and i'll be doing that and
After the ground, I think we'll be moving on to the next boat spdc boat
But that's a little bit further out in the future
But uh, yeah currently for the next two months
I would say i'm gonna be focusing on the next round of small grounds. So yeah, just follow me on twitter
I was happy to to go next but um
But yeah, follow me here on twitter follow at at zest protocol
Um, and uh, yeah, and then also on zest protocol.com you can request early access and and later this week will uh
Give you access to leverage on
On on on stacks. So stay tuned for that
Uh, awesome from the alex side, um
Yeah, alex and auto alex holders were listening. Um, do
Uh, check out our twitter feed for the for the latest vote for an ido candidate. There'll also be
And uh, yeah, just uh, just a lot of updates coming out soon
Uh progress being made on the on the on the lisa front
So we do follow our socials
As a lot of things we've been working on for some time are ready to roll out. Thank you
Same here follow me on twitter philip. Hacks. It's my handle and um, yeah stacking down as a speaker here, too
So if you're interested in lst's on stacks want to deploy some idle stacks experiment throughout the defi ecosystem
Just visit the uh, yeah the stacking now twitter profile
There's a link to our app to our website and actually once you're on the app itself
We have a nice little defight app where we list all the defi integrations that we already talked about as well this
You know this space is like zest
Like uh archidego like feller like bid flow. So we'll keep adding integrations
Um, yeah, we're working with everyone throughout the the ecosystem. So yeah deploy your stacks and have fun. I would say
Love it. All right, and then a reminder for everyone, you know this time tuesday 10 a.m is some time where uh
We're we're back with another another defi show. So uh weekly 10 a.m on tuesday's
Do do do do take notes because if you're in europe, like probably you'll get daylight savings time
Over the over the weekends at any and eastern time will be a probably different time
So so yeah, that's the or in other parts of the world where they do that, right? But um
Yeah, americans just do it a bit differently. So take take that into account but um, but yeah
Basically, um, that's it until until then really really enjoyed this one guys
Yeah, same great to be on thank you everyone for joining. Thank you hira for coming up and talk to you guys next week
Philip great choice of music. Just let me add that. I really look forward to your playlist at the start of every space. So kudos