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THORChain X VultiSig - A deep Dive Into What Comes Next
Recorded: Aug. 9, 2025 Duration: 2:01:33Space Recording
Short Summary
ThorChain is set to launch a new decentralized exchange and the Vult token, enhancing user autonomy and security in crypto trading. With a focus on self-custody, yield generation, and strategic partnerships, the platform aims to drive growth and engagement in the crypto community.
Full Transcription
Thank you. Hi guys, can someone give me a thumbs up? Can you hear me?
Okay, cool.
While we wait for everyone to join, I'm going to do a little introduction here for
ThorChain for people new. ThorChain is a DEX that enables you to swap Bitcoin with thousands of
other cryptos. All layer one native tokens. There's no bridges, no wrap tokens being used,
and you can do this all from within your self-custody wallet. There's no KYC on ThorChain. It's permissionless. ThorChain's token is called
Rune, R-U-N-E. And you don't need to own or hold any Rune in your wallet to place a swap on
ThorChain. The fee is deducted from the asset that you're selling. So you don't need to have
any Rune. However, the fees that are deducted from your trade are used to buy Rune and deliver that to the liquidity pools and nodes on the network.
And that's where the yield comes from on ThorChain.
There's no block rewards on ThorChain.
100% of the yield is real.
So it's real users, real people using ThorChain.
There's another token on ThorChain. It's called T-C-Y. That's for ThorChain yield. And this token
is kind of like a preferred stock where 10% of the whole protocol's revenue goes to these token
holders. And so if you can buy this token on your, this trades on ThorChain, you can go buy it on your own.
Or if you were involved in the savers
and lending Thorify features on ThorChain,
you have claimed to these TCY tokens.
So make sure you still go and claim those
and start collecting yield.
And I believe Ruggiero just put out
an auto compounding feature where you can
stake your Tcy and have the yield from those tokens go buy more Tcy. So you're automatically
compounding it. To swap trade on ThorChain, go to ThorChain.org and you can click on swap.
You'll see all the different wallets and websites to use Thorchain,
so you can choose whichever interface you want.
We are working on some good news for everybody.
Well, I'll say this now.
We are a go on the Thorchain front end.
We have devs working on it.
It's happening right now.
So there's some little alpha for you guys, everybody who's tuned live.
I purposely didn't put this on Twitter or anything.
I wanted you guys coming in, listen here.
This is your little treat and reward.
So it's happening.
It's moving forward.
Sort of everything out with JP and the treasury
and reading the developers from Unstoppable Wallet.
Been chatting with them lots lately.
They're great standup guys, I think.
And we had some other teams I was talking to
with other devs who are super interested,
but we just felt this was a better direction.
And so I appreciate everyone's support, reaching out,
trying to help.
Everyone wants to move ThorChain forward,
so it's pretty cool.
So hopefully by the end of, well, hopefully in a month,
we'll have a version one of the site live.
And then there'll be more versions as a month rollout
as we add new features,
but just a basic swap interface
should be ready in about a month's rollout as we add new features but just a basic swap interface should be ready in about a month um regira they're building decentralized binance on thor chain
smart contract layer uh it's being rolled out right now uh every week it seems like they're
slowly increasing usage um so it'll be fun to see speaking Speaking of Binance, if you hold Rune there or on any centralized exchange, you should withdraw it into self-custody because you don't know what those centralized exchanges are doing with the tokens.
They could be using them to short sell Rune and drive their price down on yourself. So if you have it in self-custody, they can't do that. And this is the whole point of ThorChain, right, is to empower self-custody.
And once you have your rune in self-custody, think about bonding it to a node.
This is where you can earn some yield while you wait for the rune price to go up.
And you, in turn, help secure the network and help make it possible and encourage the rune price to go up.
The more security we have, the bigger ThorChain can grow. There's a ThorChain community discord and telegram that you can join
and learn all about ThorChain and meet other ThorChads, make friends there. The final links to
those, you go to at ThorCommunity on Twitter. That's their handle, at ThorCommunity. Guys,
Twitter, that's their handle, at Thor Community. Guys, gals, please repost this space. You know,
right now where you're listening, we can get some more people in here. If you're listening to the
recording, please repost it with any comments or questions. And these spaces are aimed towards
anyone in their ThorChain journey. So whether you're brand new to ThorChain or you've been around for years, hopefully we try to have something for everybody here. There's still
an ongoing vote going on with the nodes. So node operators, bond providers, make sure to vote
your about the L1 minimum slip fee, eight basis points or five, and ADR or 20 the whole app layer regera thing um if you guys need
to go there please make sure to vote and so let's get started you know we'll kick this
kick these things off with uh you know some introductions i'll introduce myself
my name is kenton i have a fund that is dedicated to investing in rune and running nodes on thor
chain i'm pretty sure it's the only
fund in the world doing this and um so i'm a node operator and bond provider on thor chain
and with that being said i'll pass this on to my co-host patriot introduce yourself
thank you kenton thanks for dropping a little alpha giving these kids treats the ones who show
up early for these spaces i think that's awesome patriot sounds guys i'm an educator for thor chain content creator do
a lot of stuff um love this technology i am so excited for this topic because really the people
that we're going to be talking about today are absolute legends they're actually moving the
needle just revolutionary technology that not only embraces
the d5 primitives which make thortain my protocol and other places so great but really make it safe
and trustworthy and essentially starting a new standard so with that said i'm going to go ahead
and kick it i don't know if it's the volti sig or it's a pal but go ahead and introduce yourself
and we'll get the show started yeah i'll go from here i hope you guys can can
hear me well um thanks a lot for for hosting us today i'm super excited to be here and to talk
about volti sick for chain and everything about it and taking questions so yeah i myself um are
the the project manager um working closely with jp i think everyone knows, and the whole 4Chain and Vultisig team
to just push the new boundaries when it comes to wallet and safety of Web3.
I'm also quite a 4Chain OG, I would say.
I probably joined 2021, right before Mainnet launched.
So I got the last bits of ChaosNet.
And since then like super dedicated to
for chain i love what we are building um as a whole community i love every one of you guys here
um it's just like in my opinion super crucial to have decentralized decks let's say and then of
course that's why why we at worldd6 are close to the whole 4-chain and the whole ethos to it, because we were eventually born out of 4-chain.
That's, I think, a quick introduction and happy to be here and talk all about Vault-E-SIG today.
Great. Thank you, pal. Today we're talking about Vault-ESIG. So Vault-e-SIG is a new wallet.
And it's not just any kind of wallet. Like you guys are basically, it's like a whole new look
at how crypto wallets work, right? And so can you maybe, Pal, can you maybe tell us a bit more
about that as if, you know, someone's never heard of Vault-e-Sig before? Like, why should I care, basically?
Yeah, that's a great question.
I mean, essentially, I think it's enough to just, you know,
go on Twitter and scroll for a few minutes, and then, you know, you see enough posts where you see, like,
people getting exploited, losing their seed phrases,
and, like, all of this bad stuff.
And I think, you know, I don't have the exact numbers in my head, but I think eventually
this year, 2025, was one of the biggest years when it comes to losses just due to any like
seed phrase handling.
So, you know, that gives or paints a good picture that seed phrases are the most,
the biggest point of failure in our industry currently.
And that's where we at Voltisig just gonna like,
or jumped in and want to try to solve that issue.
And essentially, what we like are at Voltisig is,
I would say, ThorChain just for everyone like like a personal fortune
so we are we are using the same npc technology what fortune uses for the yeah the the hosting of
of or the the distributing and the the security of the the funds of the vaults so essentially we
are leveraging the MPC technology
and what also 4Chain uses
and giving that to everyone, right?
So the cool thing is with MPC technology,
we can get rid of seed phrases first of all,
because essentially each vault or wallet,
which a user creates has multiple devices,
because as in 4Chain, for example,
we need multiple nodes to join together and manage these funds.
And essentially these nodes in Vault-E-Sig are your devices, right?
It can be your iPhone, it can be your laptop, it can be your Mac, your Windows or your Android, whatever.
We are like available everywhere.
Also now since a few weeks have a full functioning Chrome extension.
So that's like where you have these multiple devices
and they come together and create a vault.
And essentially, they do not manage any seed phrase.
They're just these vault shares backups
where you just have one of each device.
You can store them anywhere
because they don't have any sensible data on it.
So, you know, that's why we also always say
it's safe to store your backups
in the cloud or anywhere like digitally, which then like for all the crypto OGs just blows the
mind and many get like already, you know, just cut off because they think, no, it's not possible
because it's so ingrained in our brains that it's inherently insecure to store any, let's say,
backup or seed phrases or whatever online. But the cool thing is with the MPC technology, it's possible and it's safe as long as you
distribute it sufficiently in different places digitally, right?
So that's where we then get rid of the seed phrases.
And eventually, it also removes the single point of failure, meaning if one device gets
stolen by some malicious actor in real life or you download a malicious PDF,
the hacker or the attacker can't do anything with just that one device
because it needs a multi-factor authentication
from at least a second or a third device.
You could bring it even to 20 devices or whatever.
It's essentially the same what 4GN with with a 20 20 notes in in one azkotable um so yeah that's like eventually
where we really like revolutionize the wallet space i would say um of course there are like
other different mpc wallets out there but like our main differentiator and that kind of view is like
we are building completely in public and are completely open source.
You can verify our code, you can jump in our Discord and just check what we are planning, talking about with our devs.
So yeah, that's I think the main differentiator in that kind of sense because our whole MPC technology is self-hosted on the devices.
Like our whole MPC technology is self-hosted on the devices.
And that's like, yeah, I would say different to other wallets who use the MPC technology, which are mainly like, yeah, like to some extent self-custodial.
Yeah. And the good thing is, right, with WiltiSig, you get a multi-factor or a multi-sig wallet for all the different chains.
We're currently supporting over 30 chains now and like always pushing to add more and more chains.
So because the MPC technology is chain agnostic, right, we don't use like any smart contracts or any, you know,
native multi-sigs which are dependent on like a chain.
So we essentially create the signatures of chain, same as Thorechain, right?
Because like I said, it's the same technology.
And then we just broadcast the transactions or the signatures on each chain,
what we or what the user wants to interact with.
I think that's a more or less quick introduction.
Yeah.
Oh, that's great.
Can I, I want to unpack some of what you said there
and maybe just slow it down a bit.
So, you know, some people who aren't as savvy can catch up.
So you're saying MPC, Mike, Papa, Charlie,
which stands for multi-party computation, right?
And the idea there is that like there still is a seed phrase,
but you're taking that single seed phrase
and you're kind of like breaking it up
into a few different pieces.
Multi-sig has multiple seed phrases.
Am I right or wrong? Can you expand on that?
Yeah, exactly. I would say to an extent it's, yeah, like you said, for like easy,
understandable, you're splitting up one seed phrase for multiple devices. But if you're like
really, really down to the point, technically, it's not even a seed phrase, right?
Like the seed phrase or the private key in an MPC technology or MPC wallet never exists.
So each of the devices, they just like come together when they create a vault or a wallet and like create what's called like a root public key.
And from there, like all the different addresses
for each chain can get derived.
But essentially, you know, like it's not that
like one device has 12 words
and the second device has the other 12 words or something.
It's like all cryptographically, you know,
just zero with like, let's say,
zero knowledge proven that they have like the devices together with a threshold have access to the private key,
but the private key itself never exists in one place.
But the private key does exist, and it has to exist,
in order to have an address, a public key on a blockchain, right?
There has to be a private key associated with it, right?
Essentially, you can reconstruct it when you have all the different backups, but
on, let's say, in a normal day, it never exists. So when the vault is created, like I said,
the device is just joined together, let's say, create a private key, derive the public key from
it, the root public key, and then it gets more or less,
you can say, delete it in layman terms.
Then afterwards, the wallet just
uses the public key to create
all the different transactions.
That's why sometimes we also run into problems
interacting with some dApps because they still are all dependent on the seed phrase
technology.
And therefore, sometimes it's hard for us to interact with because we have a different
approach to construct public keys and all of that stuff.
But essentially, you can reconstruct a private key, yes.
But on a daily or a normal day, the private key does not exist like that.
So, sorry, it made me think of a few questions. So this is why, like when you say you can support
any blockchain, because you're only dealing with one private key one seed phrase on each blockchain
whereas if someone was using multi-sig like not every blockchain supports multi-signatures like
multiple seed phrases um so that that is why utilizing the single seed phrase and then
utilizing the single seed phrase and then turning that into MPC enables you to use,
maybe basically access any blockchain you want.
It just would just be a matter of time for you to support them on BaltiSig.
Is that right?
Yeah, essentially that's correct.
Yeah, because like MPC technology, like the multi-party computation is not really like,
let's say, cryptocurrency native thing, right?
For example, other companies in the world using it too, let's say like Visa, any banks and everything,
like a lot of these, let's say, big players utilizing MPC technology just because it's one of the most secure cryptographic standards i would say these
these days um but of course it can be used to you know i mean a prime prime application example are
cryptocurrencies because we are daily using signatures so therefore um we are we can use it
and and are using it but um yeah essentially that's no i lost the plot what you um what the question was
sorry yeah just kind of just asking like so mpc technology is what enables you to use just one
seed phrase one private key which means you can you access any blockchain like you're not
like a lot of blockchains rely on multi signatures to have, you know, multiple parties control a wallet, but that requires the individual blockchain to support multi-sig, to support that.
Yeah, exactly.
Yeah, okay.
Yeah, go ahead. So yeah, maybe to just jump in there. So yeah, like you said, we're creating the signatures off-chain,
and therefore it's like on each blockchain,
it doesn't need to support multisig or whatever,
because the signatures and the transaction is created off-chain
in the multisig vault and then just broadcast it on-chain.
That gives a few more beneficial points to like the users because first
on the blockchain you know you're not like docs that you're using a multi-sig wallet or wallet
and secondly it's more efficient right because it's just like externally owned account on each
blockchain and then it's not like just like a normal one signature, which is, for example, on Bitcoin, much more cost efficient than interacting with like a multisig wallet or wallet.
So you mentioned like banks and like non-crypto entities use MPC.
Can you maybe talk a bit about that?
So it's like how long has MPC been around?
And you said it's like, how long has MPC been around? And you said it's becoming the standard.
So does every top big Fortune 500 company in the world use MPC?
And how do they use it?
If you're not using it for a crypto seed phrase, how do they use it within their business?
Yeah, so honestly, I can't tell exactly who and who's not on the biggest, let's say, the Fortune 500 or the companies is using MPC and who's not.
But like I said, a few big ones like Visa, MasterCard, or I think BNY, Yellow, and a few more are using it definitely.
MPC technology, the theory and the white papers let's say are out and about since
i think 20 30 years please don't quote me exactly on the days i don't have them now in my mind but
around about that um time but the problem um in these days or like before was always that mpc
technology was just too um you know like resource intensive to to have any let's say
too, you know, like resource intensive to have any, let's say, practical application
possibilities. So then with the late in the last 10 years, MPC technology and like the research
behind it just like got more advanced. And especially with, you know, the rise of cryptocurrencies,
the, let's say the economic incentive for MPC research and development
just increased.
And that's why we are like step by step getting into, let's say, more lower resource intensive
MPC protocols and can now apply it into, you know, like now with Woldysig, using one of the most cutting-edge MPC protocols, the DQLS23,
can just be run in your, you know, extension browser, Chrome extension browser, or on your apps
without needing, like, big, you know, computational resources or whatever. And I think the first
applications really have been, honestly, I don't have the exact years, but it should be like around
2015, 16, something like that should be where we had
the first really applicable protocols. And one of these
was also what ThorChain now uses when ThorChain
came to life. And yeah, from there, it's just advancing rapidly,
especially in the last years.
And now, you know, with Vultisig using DKLS 23,
which is one of the fastest and most lightweight protocols
where we have worked closely with our partner,
Silencelabs, to develop this one for Vultisig.
And for example, Silencel Silence Labs also they have similar,
like they used the DQLS23 protocol to also work with Visa,
for example, and to come to the point where,
for example, Visa and other, yeah,
other bigger companies are using MPC technology.
Essentially it can be used for a lot, right?
Like for example, for us to just create signatures,
but you can also use it to prove identities
in a zero knowledge environment
and have a lot of different application possibilities
because essentially what this does
is just allowing different devices to join together
and create a proof for whatever you want to apply it
for, right? So, like, the application possibilities are quite broad, but I think, like, mainly the
current, at the current standard, it's mainly used for, of course, cryptocurrencies, and then,
you know, and just securing identities and just proving security in itself.
curing identities and just proving security in itself?
So, okay, so MPC is, at least in theory,
has been around for a long time.
TradFi uses it.
I know the CeFi companies like Fireblocks and Copper,
like those crypto custodians,
they'll use some form of MPC.
So, you know, it it's around it's being used
MPC was the technology is crucial to how Thor chain works how it manages its vaults
and so if this is so great and so powerful why is Vaultysig the first wallet to do this well how
come another how come another wallet hasn't done this five years ago now?
Why today?
What makes it possible today?
Or why hasn't anyone else done this yet?
Or am I wrong?
Are there other wallets that are doing this?
Or is Vaultysig the only one?
No, there are definitely other wallets that are doing it.
For example, like you said, right?
Fireblocks, I think, is the main or one of the biggest players who are using, you know, MPC technology for custodying cryptocurrencies.
But of course, the issue, for example, with Fireblocks is that it's quite gated to institutionals or like players because it's quite expensive to just, you know, have any access to it. So that's why I also sometimes jokingly say
Vultisig is the fire blocks for everyone.
But yeah, essentially there are different wallets,
but most of these wallets who are using MPC technology
are like either like half custodian
because, you know, you always need like multiple devices and many you know say
just yeah let's it's better we run like for example one share or or like two shares or two
devices um on our infrastructure and the user just has one device which of course in like increases
the the usability and the the ease of let's say, management of like the daily use of cryptocurrency in an app.
But of course, it, you know, it increases the trust and the reliance on a second or third party.
That's why, for example, right, we are essentially, you know, like self-custodian or have self-custody for everyone with multisig.
But as, for example, we have two options in our app, which is like one is the fast vault
and one is the secure vault.
And the fast vault, for example, gives you a single device experience where we, similar
like Fireblocks or different apps like Tangem, for example,
host the second share, but we directly send it to you via email.
So in any case, for example, if our server goes offline or whatever,
you have always the full access to your funds
and can just load the share in a second device
and then can just sign normally with a secure vault
where the secure vault you know is just you yourself with multiple devices so um that's why
like we're not the only wallet but i would say our approach is you know a bit more let's say closer
to the whole crypto ethos or and cypherpunk ethos, where we want to empower every user to have the possibility
or not gated when it comes to any costs or subscriptions or whatever.
And that's why we are also completely open source and building in public.
We want to show the world what we are building, how we are building it.
And if somebody sees that we are doing some stupid stuff or whatever,
they can just hop in the Discord, make a comment.
That's why I always try or say we are quite close
or try to be close to our community, the VultiSquad.
If you're missing a feature or a chain or whatever,
we can just talk about it and then just raise it and implement
it down the road. So I think that's where the main differentiator is from us and other
MPC wallets that we're completely open source. Everyone could fork us or whatever and just
verify them themselves and are completely self-custodian, right? So you mentioned the big players like Fireblocks,
those are basically
institutional level
wallets. And you said
the MPC is expensive.
Is it expensive
and it costs a lot of
dev time to set up?
And then after that, once it's done, it's done?
Or is there ongoing maintenance?
Like there's always, like is VolteS sig always sending out updates is fire blocks always doing updates
on their npc not really um i think now the main main thing um with npc technology or you know
or the question to why not like all wallets switch to mpc. It's like a very new technology.
So it's definitely, let's say, a small leap to really understand it,
how to apply it, how to properly use it,
and that it works on a day-to-day basis.
So that's why I would say there's still a bit of the like a knowledge um factor when it comes to
developing these these wallets and you know as we're like all or like our core team or like the
core multisig team comes from from 4chain so all of us have I would say a good you know a good
understanding how to to use mpc technology and apply it on like, let's say a mobile level.
And that's why sometimes, you know,
we are like always struggling a bit
to really make the interaction between devices
like as flawless as possible
because the MPC technology is new.
And if you add new chains,
sometimes they're like introducing new new difficulties and all of that.
We need to tackle some from time to time.
That's why, for example,
currently it's a bit more work for us to add Ccash,
like shielded Ccash and all of these different.
There are always some new hurdles with MPC technology.
That's why I think most of the devs or the, let's say, established wallets didn't really leap so far to the new technology, even though I would say it's the gold standard when it comes to security in Web3.
And if we really want to onboard, you know, the next 100 million users to crypto.
So now I'm thinking about Fireblocks.
I mean, they're basically just, like I've talked to them too
about, you know, helping custody and having a wall with them
and, you know, to do institutional custody,
but their fees are crazy and it's really expensive.
And they actually, and they, well, last I checked,
they do support Rune, but you can't stake you can't bond
bond your rune through fireblocks um vault sig is free and you can hold rune and bond it through
vault sig right you can stake it um how is you know fireblocks this big company charging all
these fees how is vault sig how are you guys doing this for free?
Like, what's the catch?
You know, who is, am I the product?
Like, am I, are you selling my data?
Like, how are you guys getting paid?
How do you make money off of this?
Yeah, that's a great question.
Now, essentially, you know, SJP, as with ThorChain, is also the founder of Multisig, and he and the whole team set out to just improve the security of Web3.
That's why I would say essentially currently we are not navigating on, let's say,
any positive revenue or we essentially are funded and have a good like runaway.
But to really be sustainable in the long run,
we need, you know, the product to be a success.
And the main thing, how we will like do it is with our Vultisig token,
with the Vult token, which will launch eventually.
I won't say any dates to today, but yeah.
So essentially we are like free
because we wanna provide, you know,
like I said, the Fireblocks for everyone.
We wanna provide security and accessibility
in like for that new technology for everyone.
And then, you know, we hope with our cutting edge um you know wallet and
then with our app store coming up and everything we have the the user adoption where then essentially
we when we stake the vol token we'll also get like enough revenue to be sustainable in the in
the long run but of course you know we are open source so the project will for always live on and
be available to everyone um but yeah that's that's why we are like free i would say because we can
like we can do it um with the like the technology we have behind it we we optimize the the 4chain
mpc and like now with new dkls we can run it on on on every device. And that's why we can be free and don't need
like a big infrastructure or anything behind it.
We can talk about the whitelist and token launch later.
But you, so you are launching a token.
I assume there'll be like a developer fund from that.
So is it just going to be like,
is it going to be constant sell pressure on the token because you guys have to keep selling it to pay your salaries or are you going to be collecting fees
from within the wallet from some other features that will help pay you?
Yeah. Right. No, we, we like essentially, like I said,
we have a, have a treasury,
which we will stake because like the whole VUL token is,
is fee switched 100%.
So, you know, we take 50 basis points in the app itself.
Note, if you use our referral feature,
which we currently deploy on all platform on iOS,
it's already live, you can save 10% on like all swaps.
But essentially, you know, like I said,
the whole fees are getting distributed to the
volt stakers so essentially we are not like selling the token then so we will stake it and then you
know just get the revenue out of it but essentially we have a have a fund um or a treasury where we
essentially then want to bootstrap um adoption afterwards and you know just just get more people using volti-sig but it won't
be like a constant cell pressure from our treasury let's say because apart from that we have a treasury
in you know usdc where we are funded um have the runaway and we don't we are not relying on on
token sales themselves so the the treasury we have in the volt token will then be used for giveaways
So the treasury we have in the Vult token will then be used for giveaways, airdrop, and anything else that comes in the next three, four years, what we can think about to bootstrap adoption.
So you mentioned swaps and Vultisig.
So if I have crypto in my wallet in Vultisig, I can trade it.
The Vultisig is connected to, I assume, DoorChain.
Is it connected to any other DEXs?
What tokens can I trade, or how many tokens
can I trade inside Vault-e-SIG?
Yeah, I would say we are having 30 chains connected.
And of course, not all are inter-tradable currently.
But we're aiming to have full cross-chain swap possibilities
in the app.
And of course, as we are coming from the 4-chain ecosystem,
we are always 4-chain biased, right?
So the main swap routes are always going over 4-chain.
So I think 90, 95% of our swap volume goes over 4-chain.
And that's where, that's like where,
which we always quote first, right?
Like if a pool on 4Chain is available
and you're swapping in Vultisig,
you will be using 4Chain.
But then, you know, if it comes to more long tail ERC20
or Solana tokens that say we're using other swap providers and aggregators
and always extending it to have the full swap functionality
and essentially in the app.
For example, we also leveraging OneInch
or of course Maya protocol, right?
Because both of these protocols are like close by heart.
And then yeah, like for all other evm tokens and everything we are using
different aggregators and of course for example we're already ready like already ready um for the
tron when it goes live on on fortune we have the token supported since yeah the start i would say
in like just holding it but of course we now already made the, let's say,
small leap. It's not that it wasn't that hard or big of a lift to be ready when it goes live on
mainnet to be tradable in Vultisig to all the different assets supported by 4Chain.
So there's no way Vultisig, there's no way you, Pal, or anyone else in the team can turn off someone's VolteSig wallet.
Like, it's self-custody.
It's non-custodial.
So it's not like a centralized exchange where they can close your account.
I have my VolteSig wallet.
It's mine.
I have the backup keys, backup vaults for it.
the backup keys, backup vaults for it, it's mine.
It's mine.
Without those backup shares or vaults,
no one else can touch it, right?
Yeah, exactly.
Essentially, we are providing the app or the infrastructure
to have a nice access to the vault shares,
to the MPC technology,
but we inherently do not track anything about our VultiSquad.
Right? So you install the app from, you can either use App Store, Google Play Store, Chrome
Store, or just directly from GitHub, doesn't matter. And we don't have any information of
you guys. That also always makes it a bit harder for us to do marketing, because we don't know exactly how many users we have.
We don't know exactly how much traffic we have and everything,
but we are having more of the ethos, privacy first,
and decentralization and self-custody first.
So the app itself is, like you said, self-custodial.
You can verify it in the code.
It's, you know, we don't have any access because all of the,
like, let's say the shares that are created or when you create a vault,
it's all local, right?
Of course, you're using our, like, by default,
we're utilizing our relay server where we just relay the encrypted messaging.
But if you're really, let's say, paranoid and don't trust the relay server
and the encryption we're using, by the way, it's just standard AES encryption
what we're using, but if you say, oh, no, it's too sketchy for me to use
the relay server because I'm super careful when it comes to custodying my funds, you can use the local mode and switch it.
Then, of course, all your devices need to be on the same Wi-Fi, for example.
But then you're just using your local Wi-Fi without communicating outside that, let's say, infrastructure.
Okay. So let's talk about some extreme scenarios. You and all your team, you guys are on a plane,
it crashes, you're done, you're gone. Vault.dee, you know, the entity, there's nobody there,
it gets shut down, no one's supporting the app anymore. What happens to my wallet? Can I still use it? Can I take those? Like one of the nice things with the seed phrase is I can input my seed phrase into any other wallet or lots of other wallets and recreate my wallet in that new, bring out my crypto in that new wallet can i do that with the backup
shares in vault sig or you know or am i am i susceptible to vault sig you know the team the
company the app getting getting shut down is there any yeah do i have any uh safety there
yeah right no great question but essentially like first, like I said, we're open source. So if everyone like the whole VultiSig team would dive tomorrow or whatever instantly, someone could just fork the repo and, you know, spin up a clone or, you know, a new VultiSig and have the support over that way. Or, of course, we have emergency recovery, which still, like, side note, we need to update a bit more that you then essentially can combine the different seed phrases or, sorry, the different wall shares and create a private key out of it and then import it to you know to a to a other different wallet legacy
wallet but side note there also um some wallets do not or will not support our our exported private
keys just because we created like in reverse right like some some people um you know for or the most
of the wallets they first create the the seed phrases and then create the
the private key out of it but we are doing it like vice versa so sometimes you know we can't um other
wallets can't support our our private keys because they're like inherently cryptographically
differently differently created but um if even like that one is not supported or whatever we are also aiming to
to increase um you know the multisig standard used by different wallets that's why we trying
to make it as easy as possible for other wallets to also um yeah use the multisig tech for example
four wallet is already using it so um that's why essentially if we go offline you can just use your
your wall shares and import it for example example, in 4Wallet.
And we are aiming over the next years that other, let's say,
legacy Zphrase wallets support our standard.
And then you can just go to, like currently 4Wallet
or let's say in the future, whatever other legacy wallet imported there.
So there are a few fallbacks, I would say.
First, it's quite implausible that
the whole Vultisig team vanishes tomorrow, but if it happens, you can clone it and do a new Vultisig
by yourself if you're capable. And secondly, use another wallet that uses the standard, or third,
the last one is using the emergency recovery. Are you guys actually in talks with other wallets? Like the bigger ones like Ledger or Trust or Trezor or whoever to support your style of private key, however you want to phrase that?
Yeah, so currently not yet.
You know, just because we are mainly focused all our efforts to just build out the wallet to have all functionalities.
But I think in the near future, we will start reaching out and talking with all of the different
wallets. But of course, it will be, let's say, a long way to especially bigger wallets like Ledger
or MetaMask to support the standard, because the bigger the entity or the wallet provider is,
the slower it gets, right?
But so just kind of following the crazy outlandish scenario,
if you guys all did disappear for whatever reason,
there would be some, I mean, the average user, including myself,
like I'm not going into
GitHub or GitLab to go, you know, fork this code to go, you know, recreate it. But chances are,
there'll be somebody in the community who can do that or drive it or find a dev who knows how to
do that and get things going again so everybody can access their wallets. It's not like this would be lost forever.
Yeah, exactly.
Okay.
You mentioned, you kind of highlighted the difference between the seed phrase and a private key.
And I've definitely been guilty of conflating the two terms, but they're actually different, right?
but they're actually different, right?
Can you explain that a bit for us?
Yeah, so essentially, you know,
the seed phrase is just a mnemonic display of, you know,
a private key because, I mean, for us humans,
it's super hard to just see or, you know,
apply a private key itself to anywhere
because it's just a weird thing of,
like a string of numbers and characters.
So to just easy, let's say, storing of backups
or the private keys, the seed phrase got introduced
and that's essentially just 12 or 24 words which are you know
readable to the human and or easy readable and easy to to just remember and that essentially
is just like a like a let's say easy easy or easily set or a change or like a hashing of
of the private key itself but like for, many wallets are first creating the different
the different seed phrases and then deriving the private key from it.
But like, for example, from our side, if if will this would be used
to create the seed phrase or the private key from it
because we don't have it and like when we create it or store it.
It will be like vice versa, right?
So it's hard for us to create a seed phrase
which then is importable to other wallets
because the encryption and the interchangeably,
let's say, algorithm wouldn't work in the same way.
So that's, for example, it's hard sometimes to import,
let's say, for example, a private key from Vultisig
in some wallets, but it depends, like,
how the structure is or the infrastructure is of that.
So I'm curious, like you said,
everyone's used to seed phrases.
I am too.
And, you know, backing them up and storing them, and I'm comfortable with how I's used to seed phrases. I am too. And backing them up and storing them.
And I'm comfortable with how I'm saving my seed phrase.
Thinking about Vault-E-SIG, and I'm like, well, how do I comfortably back up my different vault shares?
I'm a bit confused on that.
I'm like, what's the best practice or recommended practice to do it you
know if we got um you have these you know vault shares let's say you have your your three different
signing devices your phone your laptop and your your ipad um each each one of those devices has
its own backup right and i have to back each one of those three things up
if i'm not writing it down on a piece of paper putting it in my um you know safe deposit box
i can't you know how do i put my backup share in my safe deposit box you know however or can i or
do i have to use the cloud and if i'm using, well, now I have all three of those backup
shares in the same place. So can you kind of walk me through this? Am I getting something
wrong? Can you help me out? Yeah, no, sure. I mean, essentially when we are all already
quite a few years or really drilled into the crypto industry, how we are just, you know, storing assets with
the seed phrases.
And that's, you know, we got comfortable, I would say a little bit with it, just to write
down the words, store it somewhere on a piece of paper, or I don't know, being like a half
a metal worker and punching it into metal on a steel plate.
But essentially, what you know, what you're saying, thinking, like many users have that thought or
that question, right? Why should I do it? Because I have multiple backups then. How do I store them?
What should I do? It's like more confusing than just writing down 12 words and storing them in
the drawer. But essentially, you're getting a multi-sig vault, a multi-factor authentication application to access your funds,
which is like much inherently more secure than just like the single point of failure with seed
phrases. So you can think about it first, you know, it's an upgrade. And then of course,
you know, apart, like when you see it with other multi-sigs for each multi-sig, you would have
like three different keys and would need to store them somewhere. So now, you know, you just have three different
backups where you then can access 30 different chains. And first, it's a bit, yeah, let's say
of a hurdle and a bit intimidating to store these three different backups in three different locations. But the main point is, right, like each vault or
each backup itself is not, you know, doesn't have any sensible information, as I already said.
So you can store it, for example, like I myself do it like that. One, I store in my iCloud. The
second one I store in my G drive. And the third one I actually store on my USB stick, right?
So essentially you can, you know,
just copy and multiply the different, you know, backups.
And then, for example,
if you're not really want to rely 100% on a backup itself,
you can, on a USB stick, for example,
you don't want to store it in the cloud, for example,
put it on a USB stick, put it in your post box or in your you know in your in your bank deposit and then have a second
one in the cloud which is easier to access and if you like you know lose whatever the USB stick you
still have it online but essentially to go back to it it first is intimidating to like for example
have three different backups but as it's like a two of three vault where the threshold of a vault to sign it
is two devices or two backups, you can essentially first lose one backup
and you still have access to your funds, which gives redundancy.
And secondly, they're digital, so you can, for example, store them,
like I said, first on your iCloud, second one in your G-Drive, as long as they are not, like, connected and in the same location, right?
For example, if you have it, like, on your phone, you have your G-Drive and your iCloud connected, and somebody gets access to your iPhone, then, of course, it would be possible that they can get access to your funds.
get access to your funds.
But there it's just important, right?
That's why it's self-custody.
And everyone needs to find the best solution,
how to store them, right?
For example, what I also do, because it's super easy
to collaborate with other people creating these vaults,
I have one family vault where then I mainly
use it with my wife and like myself.
And the third share, for example, I just send via WhatsApp to my mother, which I trust and I know, you know, like they don't collaborate to steal the funds.
So you can also, you know, just send it to a trusted third person where like,
for example, other wallets are also using that kind of recovery method
where a trusted third person,
I think some of them call them guardians or whatever,
hold one of the shares and you can just request them.
So that's the cool thing I personally love about
like Multisig and the backups itself.
They're so flexible in storing
that first it blows a bit of like the mind of,
let's say an OG crypto because it just
feels wrong to store it online but then if you really you know used multithigabit and and got
comfortable with the different backups and storing them it's it's super nice you know you can respawn
easily if you lose a device you just access the cloud where you stored the one backup and load it
and then you you have access again and yeah you stored the one backup and load it and then you have access again.
And yeah, you know, the possibilities are endless
as long as they're like the different clouds
or the different digital locations
are like saved with different passwords.
They're like the separation is big enough.
For example, if you use like one password manager,
one in your cloud, in your email or whatever, right?
So first I think it's intimidating, but that's some like one point.
Maybe we can also improve a bit more to, you know, just help early users to how to store it and how to access it afterwards.
Well, to be honest with you, for me, that's one of my, if I have a hangout with Vault-E-Segasat, it's like to hear the arguments for the best ways to back up the vault shares.
Well, to be honest with you, that's for me, that's one of my, if I have a hangout with Valtiseg is that.
And let me run this way up because I've been thinking about starting a business kind of like Unchained Capital where I helped normies get into crypto, helped them set up a crypto wallet,
and then also helped them with custody.
I think custody is hands down
the biggest barrier to entry for normies.
And especially older people,
you know, the boomers have all the capital,
all the money, right?
And, you know, we want what,
you know, you want to kind of invest in what boomers
are going to invest in or where that money is going to flow to type thing. And it could easy
for boomers to get into crypto, it'll be easy for that money to get in. And so I've been, for me,
I've been thinking about that, like, you know, as a business, how do I get, you know, the next 80%
of the world's population into crypto? How do I, you know, take part in that and help facilitate
it? And I think helping people with custody is our main hurdle. And, you know, trying to walk
somebody through a seed phrase and putting it on steel and back, like, they just, you know,
their brains just stop. They don't want to do it. Or they're terrible or they, or they're, or they're completely honest.
Or like, Kenton, you know, I'm, I lose stuff all the time.
I'm going to lose this thing.
Right.
I can't, I can't, you know, I can't keep these 12 words safe.
I'm going to lose it.
And so I've been racking my brain.
Well, how do I, how do I bridge this gap?
And, but the key is I don't want to have full custody because then now I'm becoming a VASP, you know, and I'm opening myself to all kinds of regulations and whatnot and rules.
Whereas if I can have like partial custody, like one of these vault backup shares and say I'm dealing with a husband and wife, I can say, listen, set up this download download Vault E-SIG, set up of two of three,
the husband and the wife, you each have a share and I can have a share. And so I have a backup
in case anything happens to the husband or wife, to one of them, you know, they lose it or whatever,
they can, you know, contact me and I can help them. Me by myself, I can't do anything.
Technically me and the wife, we could, we could run away from. Technically, me and the wife, we could run away
from the husband or me and the husband could run away
from their wife. So the
husband and wife would have to have a good relationship
and make sure that...
So in my mind, that would be the most
ideal way to kind of help
get normies into
crypto. And
Vault-E-Cit could be a huge part of that because it's much,
much easier to back up the vault phrase. Forgive me, I keep forgetting what they call it,
back up the vault phrase. Does any of that make sense? You follow where I'm going? Do you think
I'm wrong? You want to add anything to that? No, I mean, you're technically, you know,
down to the point. That's like the really awesome thing about Vultisig, right?
You can be like as flexible as you want. And, you know, we could also, for example,
have like a, let's say, more white glove or like a, you know, like a semi-custodial service where
we at Vultisig host the second share.
Essentially, we're doing it with fast votes, right?
But we still directly email you to have the full custody.
But for example, for like a business or you where you have access to a lot of,
let's say, boomers who want to invest in crypto and Web3,
that's a great way, right?
You have one share and the other person or if it's
like a family or whatever who wants to invest has like the other different shares so you as like the
semi-custodian never have access to it but yeah the the the customers always have like the full
full access and and if there's something goes wrong you have one share and you know the thing is as with three shares it's quite um unplausible um you know to to lose
two of them at the same time right um that's for example also in aviation for example right
everything is redundant and in crypto it should be it should be the same and not relying on one sole seed phrase. And then when we come to the new era, I would say, with AI and bots,
seed phrases or private keys are inherently not secure or able to give it to a bot or whatever.
But that's another topic.
But yeah, essentially, you're just semi-custodian or in whatever setup you want to have it.
to just semi-custodian or, you know, in whatever setup you want to have it.
Vultisig is the best wallet, I would say, currently,
because it's super dynamic and flexible, right?
Also, when it comes to, I don't know, like funds, treasuries, DAOs, or whatever,
you can just, you know, create a two or three vault, for example.
And then if you have, like, more sign signers you can just reshare the whole vault
and add a new signer and or or remove one signer or whatever so it's like really dynamic and i think
that's the main um let's say yeah hurdle currently for for us like as crypto and like you know just crypto ogs to to understand this dynamic and secure
environment if you you know not store two or three backups in one place but also for let's say you
know normies who are who are getting into crypto it's also easier to understand than like you said
right um writing down 12 or 24 words and storing them somewhere what happens if like i think i don't know my house burns down or whatever um because all of them
already use two-factor authentication in most of the let's say apps right when it comes to banking
banking all the apps have multi or two-factor authentication your google account has two
factor authentication and that's like essentially what what will t will t sig is it's like a multi-factor or like a two-factor authentication you mentioned
removing oh go ahead yeah i'm so sorry to interrupt um uh so it is my father's birthday today i'm
gonna have to go in just a second so i just wanted to quickly bump in uh just to ask you a quick
question because i know a lot of people and kenton you've been doing a great job with the questions man absolutely logical
consistency uh you're you're a legend when it comes to doing this stuff um when it comes to
volti sig and let's say like there's institutional players are going to be listening to this recording
right um and so far i think we've mentioned like one of two two of three um you know vaults but
is there an upper
limit to how many you can have? And the reason why I ask that is, I think this technology is
very important specifically for institutionals because like the recent Bybit, you know, exploit,
if Bybit had been using Voltisig technology, I think it's quite clear that this would not have
happened and they've could, their $1.5 billion would have been safe. So that's what I just want
to ask you
before i drop um could you uh shed a little light on that in case there's institutional players that
listen this recording like what what makes it so good to use this tech yeah i mean uh that's a great
point right um you can essentially don't have like an exact upper limit um you can add, you know, 15 devices, 20 devices. Essentially, it gets a bit,
of course, restricted by the network, you know, because if there's a big, big, let's say,
pool of committees or devices joining, it can be like we have currently like set a like technical
limit of one minute. So if, you know, your keygen or your keysign,
so essentially creating the vault or sending a transaction
takes more than one minute, it will time out, right?
So especially with the old MPC protocol,
which we had the GG20, which is also for ThorChain
is currently using, it's a lot slower.
So that's where we had like an upper limit of,
I would say like eight or nine devices.
Then like with latency and everything, it just got to the limit of like one minute or like two minutes we had it before. But now with the DKLS protocol, which is like 10 times faster than the
GG20 protocol, we like, honestly, I need to test how many, how much the really the upper limit is
like, technically there is no upper limit, but of course, like, you know,
from like network latency and everything, there will be a limit eventually,
but like up to like 20 or 30 should probably be quite possible.
But honestly, I would need to test it.
What exactly is our upper limit currently?
I myself tested it with like eight
nine devices so far um but then you know i also not running around with 100 different digital
devices so um yeah that's where like we currently had tested it and of course like we have a
threshold of um 67 currently like configured you know then you would always have like 60 or would need 65% of devices to sign any
transaction. But technically, we could also in the future make it dynamically that the user can
adjust what the threshold of signing then would be. Very cool. Very and with that i gotta drop um carry on kenton nice
job everyone thank you so much guys make sure to refer to the resources up at the top of the space
um for volti sig please give pal and volti sig a follow um really cool stuff guys this is major
major alpha for you you've never heard of this tech um have a great weekend guys god bless bye
alpha for you you've never heard of this tech um have a great weekend guys god bless bye-bye
thanks patriot and uh sorry for hogging the space man um no no no no here's the thing here's the
thing you are so good at asking questions you know we are appealing to the audience and you have a
good flow and your questions are logically consistent and dynamic so if you're killing
it i'm not going to say anything dude so don't feel bad for a nanosecond.
You're doing a hell of a job.
So good job, man.
But with that, guys, I got to go.
Take care.
Yeah, man, thanks.
Happy birthday to Patriots, Dad.
Yeah, pal, thank you.
And your answers have been great.
So there's, and every time you answer my question,
you generate some more for me.
You mentioned removing a signer.
So I'm curious how that works.
So let's go back to my business model.
I've got, you know, I've got, you know, John and Jane, you know, husband and wife signed up.
The two of three, they each have backup share.
I've got a backup share and they want to fire me.
Kenton, we hate you. I don't want to talk to you anymore. We got to get ready. We don't want you having our backup share, I've got a backup share, and they want to fire me. Kenton, we hate you.
We don't want to talk to you anymore.
We got to get ready.
We don't want you having our backup share.
You know, we're worried about it.
We don't want that lingering.
How can they remove it from me?
How can they cut me out of the equation?
Is it because it's a two or three, they can just go start up somewhere else,
they can just go start up somewhere else?
or do you need three of three?
Or do you need three of three?
How does that work?
How does that work?
How does that look?
No, essentially, it's called like a reshare function
in MPC protocol.
And what it's doing is just, you know,
you can use the same devices, or like you say, right,
you can remove one device, or you can add multiple devices,
and essentially reshare the same vault.
So your address and your funds and anything won't change afterwards.
But what will change is the backup shares and essentially,
let's say, the access to it.
So what you essentially are doing is just creating new backups with a different access to the same
root public key. But for example, it won't include your device. So let's say both of your
customers say, no, we don't like your service or whatever. We're fire you but they still want to make sure that you don't
have any any access to it anymore they can just re-share the vault with just a or two devices in
it and delete their old backup shares so then you still of course have one backup share but
as the other two old um you know backup shares or devices are not existent anymore, you can't do anything with it, right?
The same as when one malicious actor would get access to one backup
or to one device, you won't be able to do anything with it.
But both of the clients, both of the two guys can still afterwards sign it
because it's a new vault, let's say, or not a new vault, but a new access to the same vault.
You need to, like, a small note on that.
After resharing, the old shares stay valid, right?
So, like, on a, like, cryptographically technological level, it's not possible, you know, to invalidate the old backup shares.
That's why it's, like, inherent, like, important that, let's say,
like, the threshold of backup shares then get deleted afterwards,
and then you're, like, completely fine, right?
But essentially, it's possible to add and remove the, like, new signers
dynamically because you can just use this reshare
function to then increase the threshold increase the complete like committee and and or number of
of signers in the whole world so yeah that's that's essentially like how it's let's say
functioning of course i could go more into technical detail but then it's getting a little bit too too too abstract i would say um but yeah that's also like the same function we are using
for our app store maybe to quickly touch on that um because with the mpc technology we are also able
to start finally automating self-custody right that is something which was not possible at all in the crypto space so far because cryptocurrency and how self-custody and signing works, you as a user need to authorize the signing.
You need to sign the transaction and then shoot it off to the blockchain. But with the MPC technology, with this reshare function, what we can essentially do is give the vault to an automation, right?
Let it be an agent, let it be a server who automatically proposes transaction without you losing the access to it or giving that bot or that server a full like complete access to your funds when it comes for example
it wouldn't be possible with a private key right with a private key you would need to give it
someone and this someone would have the the complete access to the funds but with mpc technology
you can only give like one part of it to to this entity and this entity can propose or try to do a
transaction but always needs like a second part, right?
Like yourself or a second signer to sign this transaction.
And that is possible, you know, with the reshare.
And that's like how we gonna utilize the technology
to create automation essentially,
where we then like we'll reshare your vault
when you install a app, essentially a Vultisig app, where then like a proposing
part and a verifying part both get two shares and then together when they collaborate can
sign a transaction. But you still have the full access to it because you have the backup
shares before the reshare essentially. I hope that makes a bit of sense without confusing
too much.
I think so. And maybe this is a bit of sense without confusing too much.
I think so.
And maybe this is a good segue into the App Store,
because I do want to ask you about it.
But before, I just want to bring up something else I've been thinking about,
getting the next 80% of the world into crypto.
One of the, I think one of the reasons that so many financial people hated Bitcoin and were against it for the longest time, and it still are, is because of that saying.
It's hard to convince somebody of something if their income depends on them not believing it.
You have all these wealth managers, asset managers, fund advisors, hedge funds, whatever you want to call them,
all of the above, they all get paid to manage money in TradFi, right? And so if somebody wants
to buy Bitcoin, that's taking money out of their fund, out of their entity and going somewhere
else. They lose the fees on that money. And so rather than be intellectually honest and be like, yeah, you know, Bitcoin might be good for you, even though I'm going to lose income, it is good for you, the investor.
They just poo poo Bitcoin because they want to keep money inside their fund.
And so I think, you know, this is another way, you know, how do we get mass adoption in crypto?
think you know this is another way you know we how do we get mass adoption in crypto it has to
be easy for these wealth managers fund advisors to get their clients money into crypto and you know
the regulations in the u.s are changing you know it's it's you know in the end i do think it's good
but you know on the surface it's a bit looks like it's a bit orwellian you know it's not real
crypto type thing and it's probably conversation for the other day, but it is moving in the, at least it's
going in that direction, you know, trying to normalize crypto. The reason I'm bringing this
up is with Vault-E-SIG, I've been thinking like, you know, if there's a platform out there that
can make it easy for a regular investment advisor to get their clients into crypto where they can still make
money on it. And I'm wondering with the Vault-E-SIG app store, is this a way? So if I'm a financial
advisor, I've got 100 clients and my book is say 20 million, a pretty ordinary financial advisor in the US, and I come across Vault eSig,
could I like, you know, put on my brand, my logos on like a Vault eSig wallet and be like,
yeah, I'm partnering up with this wallet. I'm going to use it for my clients, teach them how to get on there. I'm going to hold one of the vault shares. And then, you know, whatever crypto
they have on the wallet, I can charge them like a management fee, you know, like 1%, 2% of whatever crypto held.
And then that way, the investment advisor, he can still make money.
He still gets paid, you know, to put his clients into crypto, into Bitcoin.
And he is providing a service, you know, by having the backup share.
He can, you know, by adding his logo, he can show that, you know, this is, can show that he is affiliated, he is legit.
Does that make sense?
Are you following me what I'm asking?
Is that possible?
Could you do something like that?
I mean, essentially, currently, we don't have that really planned, but it would technically
be possible. You know, just for example, we, as I said, right, we want to provide like an easy access
to tap into the Vultisig technology with like the Vultisig SDK, what we're developing and
everything.
So we also have been talking already with like some other platform and apps that they
utilize, you know, the technology to essentially give their users an easy access to a multisig vault,
which they, like you said, host one share and the user has the other share.
Then, of course, the custodian risk increases.
But, of course, like you said, if we want to get the normies into crypto,
get the normies into crypto, there always probably needs to be some kind of custodian help to just make accessibility to crypto easier until everyone understands it and just can move forward to fully self-custody, which I'm a full advocate for.
But essentially, with the modularity of multisig, it is possible.
It's just like a matter of, let's say, death lift, right?
Like if somebody, like you said, like a hedge fund or whatever, has the technical capabilities, they can just use our technology, build their website where they then host, for example, one share.
they then host like for example one one share and essentially the user can just then download the
multisig app and and create um a vault with with the website together or with like the fund or
whatever but essentially currently now we don't have like the option like ready to use but you
know that's that's the thing um we are now a wallet which is a bit more of like we're live now one and
a half years or like the project is live one and a half years or like the project
is live one and a half years and there's so much to build right so we're constantly trying to ship
and and give like the full modularity for everyone to just increase adoption um i think we're slowly
getting there but still um too much to build um but that's why we're like never sleep and always
pushing um features and improvements.
But essentially, yeah, you know, with the App Store, for example, someone like a hedge fund or whatever can build different apps in the App Store then,
where then they, of course, get a share of the revenue or the transaction volume or whatever,
where we currently design the App Store to have this modularity when it comes to monetization also.
So that's where, for example, if a builder on to the App Store and creates an app or an agent or whatever, what a VultiSig user then can install and use, 70%, you know,
we're copying a bit of the Apple Store, let's say fees there, 70% goes to the creator of the plugin,
a fees there, 70% goes to the creator of the plugin, and 30% of the income goes to the
Vult token directly, same as with the swap fees, what we touched on earlier.
So can you, let's get into the App Store.
What kind of, are there some apps that already exist, and what do they do?
And can you give me some other examples of the potential for the App Store?
What could people build on there?
Yeah, I mean, essentially anything is possible, I would say.
Because, you know, from a, let's say, from a push technology, what crypto essentially is, right?
Because the user always needs to sign the transaction
before doing anything on-chain.
With the App Store, we can finally create
secure self-custodial pool transactions, so to say.
So the possibilities are essentially endless for the builders.
So when we're going to roll out the App Store,
I hope we can go live in the next one to two months.
We are really pushing hard on that one.
As some of you probably saw, JP already posting about it,
a few small alpha leaks.
But essentially, the first apps that are going to be live,
which will be built by us, are, for example, a DCA plug-in,
where you then can just
you know DCA quite self-explanatory or you know a payroll plugin will be live from the get-go
where you then can for example like which we will use a lot is you know just pay our team instead
of using any any disperser on like smart contract dispersers or whatever we can just um you know send everyone let's say the
them yeah the team the funding amount and the other one is for example like a copy trading bot
or plugin right where you can just put in like an address and it just looks on chain what trades this
this address does and directly just mirrors it and and sw in-app, right? Because like I already touched on earlier,
to install an app, essentially what you're doing is resharing your vault to give one to the
verifier and one to the plugin or the app server. So which has like one server doesn't have like
the access, the full access to it, but but if they collaborate they can essentially automate your your funds then you know you may ask yet but how is that secure um the thing is like i said right
like one part the plug-in part or the app server is the proposing um part of of the of this share
of this reshare and the verifier always verifies it that that nothing gets signed what you didn't authorize before.
So when you install a plugin, then what will happen is you set the parameters.
Let's say, for example, for a DCA plugin, you're saying,
yeah, on a weekly basis, I want to swap 100 USDC to Bitcoin.
And then the verifier saves this policy and only you, which has the first part
of the vault or the main unautomated part of the vault, can change this policy. And the verifier
always needs to join the proposing part, the plugin part, to sign this transaction. So essentially
the plugin itself says,
okay, today is Monday again.
It's time for me to, you know,
swap 100 USDC to Bitcoin as you propose
or as you want to have it.
It proposes the transaction,
sends it to the verifier.
The verifier checks against the policy.
Yeah, okay, it's true.
Like the plugin proposes a swap swap from 100 USDC to Bitcoin,
checks the policy. If it's correct, it joins the key sign
and signs the transaction and sends it off.
But now, for example, let's say the plugin is malicious
or just got hijacked or does weird stuff
and proposes, for example,
to do a send of 1,000 USDC to wallet Y, for example.
Then, of course, the plugin itself can't sign
or broadcast this transaction.
It would generate the transaction,
would send it to the verifier.
The verifier checks it.
Okay, normally
what I am allowed to authorize and co-sign is 100 USDC into Bitcoin, but that transaction now
says send 1000 USDC to address Y. Then the verifier says no, doesn't make any sense,
and just doesn't join the key sign or the signature creation and nothing will happen. So that's why you have then essentially the security because you always have two different parts,
which will always cross sign and verify each other.
And then you have the automation with it.
And essentially anything is possible with that kind of structure of a wallet, right?
So essentially, like we already announced before,
we are also partnering with CFGI,
great guys which have like a crazy, crazy access to a lot of data
when it comes to just a fear and dread indicator,
and they created like a trading bot out of it.
And with that one, they will have an app, which is the bot itself,
and the bot itself will propose the transactions,
and the verifier will always just cross-check it with the policies
what you as a user created.
And if it's true, then it will just cosign,
and then you could have, you know,
automated trading agents, or you could have like an agent who just, you know, scrapes X,
or like the X tweet of, feed of Vitalik. And if Vitalik tweets about his girlfriend,
it automatically sells, you know, the ETH and just buys it back later or whatever. So essentially, let's say the technology or the apps and the plugins behind the proposing parts
are super abstract and can be anything what you guys can think of.
That's why we want to have an ecosystem which is full of builders
who just come onto the Vultisek App Store, create their app, their plugin,
what they think is awesome,
and then users can just one-click install it and use it.
So that's the vision of the App Store.
And that's why we as Vultisek,
we don't want to build each plugin or everything.
We just want to give the tools to everyone
to create these plugins easily
and users to use it easily.
So going back to my example that I want to have a business,
help people get into crypto, I set them up with Vault-e-SIG.
And I want to manage their crypto holdings inside Vault-e-SIG.
I can create an app that acts like, how do I say this? I can create
an app that will allow me to buy and sell crypto within the wallet. I can just have their existing
Vault-E-SIG addresses. Those are the only addresses I'm allowed to move crypto to and from.
I'm allowed to move crypto to and from.
But essentially I can go and direct trades.
And I would just have to get John and Jane,
husband and wife to download the app and approve it.
And then I'm now directing the crypto
inside the wallet for them.
Is that right?
Is that possible?
Yeah, essentially, actually great idea. Like I personally at least never thought about this one,
but it would be possible that you create a plugin or an app, which then your customers install,
and essentially it's just, let's say, a hedge fund trader or right, you can propose the transaction and the customer's pre-authorized
that anything, like, right, like that's where then the trust increases, of course, but they
could essentially say, yeah, anything which the plugin proposes is it's able to create
create or sign the transaction or broadcast the transactions. So anything you do then or propose,
or sign the transaction or like broadcast the transactions.
the app will just automate and just execute. So essentially, the user from your customer's
point of view, they would just one click install this app, this plugin, and you would have access
to just sign transaction and do trading for them.
And that's as long as they want to have it, right?
But the cool thing is with the apps and the plugins in the App Store,
it's also like a one-click uninstall, right?
Like if you, for example, don't want to have, for example,
you as a hedge fund to do trades for them and have access to their funds. They can just uninstall the app.
But what happens on the back end for the user experience,
it would just be like one click uninstall.
But what would happen on the back end
is just deleting both of the shares on the verifier
and the app or the plugin side itself.
And then, or even just one, deleting one would be enough,
because then the threshold
is not met anymore and nobody can propose or do any transactions anymore so but anyone could
download this app too wouldn't just have to be somebody that i know that i recommend the app
my app would be in the app store anybody could download it and use my my fund yeah basically my
download it and use my my fund yeah basically my and and so then i and i could and because i create
the app i can dictate the fees so if i want to say i want to take one percent uh fee on each trade
um i could do that and then 30 of that money would go to multi-sig the other 70 would go to me to my
money would go to multi-sig the other 70% would go to me to my my private wallet
is that right yep essentially that's that's exactly it like the monetization
will be quite flexible let's say you know you can either do it like on on
install you know one fee install or if it be like you know a monthly
subscription that's another point which is like super great or you know just
do it on volume um you know percentage wise so it would be quite flexible and as you said right
70 will go to the creator and 30 will go to the to the world token which anybody who holds it and
stakes it gets the revenue from it right so it's not like something where then like the 30 will go
to us to our treasury or whatever it just just goes directly to the Vult staking contract
and will be distributed over that.
So yeah, essentially, you know, the app will be in the app store
and anyone who thinks, yeah, Kenton is a great trader, right?
I trust him, I trust his trades, can just install it and go for it, right?
So Ken, how hard is it to create one of these apps?
Like you actually have to write code.
Like you actually have to be a developer
to create the app then.
Yeah, currently yes, but we, like we down the road,
or like, you know, we will, we are a project or a team,
you know, who constantly iterates
and tries to make it as easy as possible and
as seamless as possible.
So we will step by step lower the barrier to create these apps, let's say.
So essentially, currently you need a bit more experience for just coding and everything.
and everything, but let's see to what level we can bring it.
But let's see to what level we can bring it.
Maybe in the future, you can just create apps
with some building blocks, like predefined codes
where you can just more or less click or drag
and create apps or something.
I'm just thinking about that.
But yeah, we're constantly pushing
to make it as easy as possible.
Well, I'm just thinking about my crypto mutual fund idea, lack of a better term.
Because I know there's thousands, maybe millions of people out there who are like, between their friends and family, kind of manage their crypto for them.
And they'll have crypto and then a wallet.
They just kind of take care of it. and their families and friends just trust them right but they if they could um if they could have vault e-sig and have an app where they're actually you know doing the
trades for each one of their friends and family in their you know each friend of each friend and
family member have their own wallet and this you And this one friend who's managing it all can just do it within the app.
It's much cleaner, keeps everything segregated.
Yeah, I'm wondering if people would be interested and would do that.
Yeah, definitely.
I think people will definitely be interested.
I mean, I also know it from my personal you know just like friends and family everyone or a few always come hey should i buy this coin or whatever coin and
you know then that's like just whatever i'm like i'm not like an advisor or trader or like
essentially but you know it would make it much easier right to just like if you have like a big
following or you know a big you know managing some funds, just, yeah, hey, install it.
And the rest is, like, I'm doing it.
And you just can't forget about it.
Well, especially these big KOLs, right?
You know, if they're, you know, they're such hot shots and all their trades are so great, they can come in and create a Vault-E tell other users hey come use this app you can mirror
all my trades i do it all for you hands off bing bang boom the the kol gets paid vault sig gets
paid the user gets you know uh access to the to their k you know their kols trades you know should
be sounds like win win win-win yeah yeah definitely yeah
that's really cool for example also like another application right are like
subscriptions for example right you can just like let's say a subscription to I
don't know to a big extent let's say Netflix or you know whatever newsletter
or what else you can just install the app of newsletter XYZ. Afterwards, you get access
to it and it just like charges you $2 per month or per week or whatever, right?
Cool. So the App Store, it doesn't exist yet or it just launched? Where are you in that?
Yeah. Yeah. We are like, you know, it's's something essentially where we are pushing the frontier or are on frontier
because it doesn't exist anywhere.
So we are building that one as one of the first projects, I think, in the whole world.
We have it in a better environment already for just internal testing and improvement.
a better environment already for like just you know internal testing and improvement um and you
know the the dca and the the payroll plugins are and like the copy trade plugins have like a basic
functionality already and we're you know we're pushing hard we have a whole dedicated team to it
um apart from our core app team um so i would say probably we're aiming to have the App Store live in, like I said, the next four weeks to two months.
And probably we're going to release it into a beta environment
for our Vulti squad a bit earlier.
So it's nothing which exists yet, I would say, openly,
but it's nothing like you know, which exists yet, I would say, like openly, but it's not nothing like we say in a few years it will be possible to automate your wallets.
It will be possible this year, even in the next, yeah, I would say maximum two to three months.
But yeah, that's something like we're really, really pushing hard.
And what, you know, we essentially think also the one of the main selling points for
volti sick because of course you know secure higher security and then easy storage and everything is
nice to have but it's not like quite a like sexy selling point so having like real automation um
you know without giving up self-custody or giving away your your private key which then somebody else has full access to your
funds is like super groundbreaking right and that's something that we we are super hyped
about to to get that live finally and we're pushing like every day and night to get that live
well i mean how many of us have our like our bills you know just uh automatically paid to
our credit cards you know we don't have to worry about every month.
We don't have to go manually pay them.
It's just automatic.
All of our subscriptions, all this stuff is just automatic.
And that's hanging up with crypto.
Every time you do a transaction, it's manual.
You have to go authorize it.
And if you automate it, that's huge.
Yeah.
No, good for you guys.
Well, let me ask you some maybe more harder questions.
A few weeks ago, JP posted, you know, he's a bit frustrated with, you know, some of the
bugs going on in Vault-D-Sig, and I think he went in Discord.
He said, hey, everybody, stop what you're working on, spend the next week, fix all these
bugs.
Did you guys do that?
Did you fix the bugs?
Is everything cleaned up?
Or do you sell some more stuff to iron out?
Yeah.
No, I think that's a great point.
As Multisig is quite a new tech, and we are complete,
like all our different platforms on iOS, Android,
and Windows are completely different code bases.
You know, we are building the iOS app in Swift, Android on Kotlin and the Windows app on React.
So therefore, you know, each implementation is a bit different and therefore there can be like, you know, some bugs which sneak in,
especially as we are supporting 30 different chains
with each having like a bit of a different functionality and that can like be a bit more
edge cases or rough rough edges um especially you know now where the wallet i would say is still
relatively new compared to other more established wallets which which are like honed out and, you know, we're live now a year. So of course we had a few different
and like pretty annoying bugs.
I would say currently our apps are in a nice
and reliable state.
Of course, if anyone encounters any issues,
please always just, you know, shoot me a message,
JP a message, ping us on Discord, on X or whatever,
and we directly get it fixed, you know, as we try to cover everything.
But of course, sometimes some stuff gets like syllabus through, which we are like now
improving always.
And I think we're on a good track.
But of course, like if you guys find anything, just ping me, ping the team.
We get it fixed directly because we want to build
like the best and like the most flawless wallet out there with the best UI UX. So it's a long
way still to build everything out. But currently, I think we're in a good state, especially with
the extension, having a lot of different depth support already when it comes to EVM chains,
now with like the Ruggiero support on the website
or on the Ruggiero website. So we're constantly pushing and we probably from or we will have
from now on, you know, like always one week dedicated to just fixing bugs, honing out everything
once per month. And of course, you know, yeah, fixing bugs and pushing features every day.
you know, yeah, fixing bugs and pushing features every day.
Can I suggest maybe having a channel on Discord or something?
We don't need JP playing customer support on everybody's little problems.
Maybe is Discord a better venue for people to reach out?
Yeah, definitely.
No, like, we already on Discord have just a support channel or just open. Our whole Discord is public. You can just hop in there and shoot myself or the mods. We have amazing mods out there, like Samyap, for example, or Jane or 3Ms, like different, all of our mods are always there. And of course myself too, you know,
just shoot a support ticket or just a ping on Discord.
It's like always the easiest, I would say.
Okay, great.
Well, you mentioned Valtzi's been out for a year.
So is the whitelist.
When launch?
When do we make some money?
What's the deal there? When?
So yeah, I would say we are close to it. I don't want to say any specific dates or whatever.
We are pushing on it. What we're really currently also thinking about is important for us to have
the App Store either launched or very close to launching
when the token goes live.
So that's like some restraints there.
The whitelist, of course, yeah, it's live since a year.
That's why we also currently, you know,
have like the reactivation going on
because we want to have the,
like all people on the whitelist active
and just, you know just don't have any slots
wasted. So that's why we're currently reactivating it. So anyone who is on the whitelist and didn't
activate or reactivate their slot, go do that. We have a few posts on Rx there. But yeah, I don't
want to give any dates, but it's, I would say, not too far in the future
when it comes to Vult, to the token, because of, you know, of course, we are generating fees every
day with like the in-app swaps. And now, you know, with the referrals, for example, you can lower
them, like the fees already and just give a percentage to the referral itself.
But the main selling point, let's say, is just staking Vault and receiving these funds directly in USDC.
So that's why we also want to push for launch
that everyone can stake the token
and have a share of the adoption
or just get a share of the adoption or just get a share of the adoption,
especially with the App Store going live,
with the different apps then generating revenue.
It will be very interesting to see when it comes to just the revenue share
to the Vult token itself.
So just to reiterate, anybody, if you were on the whitelist last year,
you need to go back and basically reapply.
Make sure you're back on it.
So you have links on your Twitter and Discord to go do that, pal.
It's easy for people to figure that out.
Yeah.
I'm not sure how I'm not super good with X spaces to pin something.
I'm not super good with X spaces to pin something.
But yeah, essentially it's on our Voltisik and X account.
And of course, we will have a few more reminders coming up also in our Discord.
So it's not super urgent, but don't forget it.
Go do it.
Yeah.
And is there a part of you guys that kind of want to wait until
the maybe september wait and see if the altcoin market is going to break out and kind of launch
at the same time or is that not part of your thinking process at all i mean it's still always
like a bit in there i would say right the whole macro economics and the whole markets, how they're moving.
But like, I'm like, personally, I'm more in the camp of, you know, like, currently, we shouldn't wait for the perfect time to launch or wait until XYZ happens or whatever.
So we have a few internal metrics.
We still want to decide to, like, nail down anything specifically.
to decide to nail down anything specifically, but yeah, I would say it just would generally
make sense to observe it a bit, but don't make it really dependent on it.
Yeah. Now what about Kraken? Is that still a go? I remember originally when the
Vault token was going to launch,
it was going to coincide with trading in Kraken.
Is that still moving forward?
Is Kraken going to still have the token trade at the same time as the launch?
Yeah, like I don't want to say too much on that or can't say too much on that.
We're still pushing.
There were some, you know, internal issues and everything. That's why we also currently didn't like publish too much on that we're still pushing there were some you know internal issues and everything
that's why um we also currently didn't like publish too much about it um i would say it's
everything is still ongoing but much slower and um yeah sadly the possibilities are a bit lower than
initially you know communicated it's something like I personally are quite frustrated about it, but I don't want to go into too much detail
or can't go into too much detail currently.
But yeah, essentially we're still pushing on it,
but a bit lower like pace or slower pace.
So yeah, we will see when we're closer to launch.
Okay.
I'm running out of questions here, guys.
And if anyone in the audience, you want to come up,
ask a question, have any comments.
I don't see anybody requested.
But please, you're welcome to come up.
Pao, this has been great.
I don't know, is there anything else
that you want to talk about that we haven't touched on
that you want to bring up?
I mean, there's always so much to talk about, right?
But I think we covered most of it.
I hope some guys come up and ask some questions.
Essentially, you know, like I personally love just building VultiSig and being, you know, like,
it's my first project or like thing where I'm building, which is
completely in public and, you know, like, open, accessible and verifiable by everyone. And it's
quite interesting because, you know, if I make any mistakes or move slow or whatever, everyone can
see it. And that, like, it's super motivating. So I think, you know, the whole team is constantly pushing. And that's why I would say our progress is quite big in the one year we are now pushing this product.
So yeah, I think there's still a lot to catch up on.
But we're constantly pushing and improving UI, UX, especially when it comes to just co-signing with different signers,
different chains and everything.
So still a lot to build.
But, yeah, I see somebody has a question.
Yeah, Daniel, Marvin.
Yeah, go ahead.
Hello.
Hello.
I really enjoyed the space.
I've been in space from beginning
to now i really love what vote is building really love it i'm i've been following votes since last
year i had about votes since last i've been following them i have the app i'm using the app
but i would just like to get an answer for what about the people who merge where we're talking like we we're talking yeah
any like for over a year now they've made because i remember some of my friends both and they're
still complaining to me that we've made it and there's no there's nothing that can that can be
done to it for now for right now yeah any hope on that um i? Honestly, I personally also in that camp,
I also merged some Wiwi into Vult.
Essentially, the only blocker is the launch.
When we will launch Vult,
then maybe a few hours or days afterwards,
we also going to distribute the Vult to
each holder or each person who merged
we into into vault which will will be like an you know a normal airdrop you don't need to do anything
just hold it um and then you will receive the vault um for it so yeah i mean it's like with
the merge and and everything wasn't perfect um but yeah essentially you know we we don't want to have
and everything wasn't perfect.
But, yeah, essentially, you know,
we don't want to have all the mergers locked in
for a long time.
But, of course, you know, we need to launch the token
before we can distribute the merged vault.
But, yeah, that will directly happen after the launch
or quite immediately.
Daniel, is that good?
Do you have any more you want to ask?
Any follow-up?
No, like, it's all good.
It's all good.
But I just felt like due to people merging
where we're to vote,
I was expecting Vult to launch early this year
when they brought up, like, some multi-group,
but now they postponed.
I feel like people are, like, people's phones are logged in there. to launch early this year when they brought up like some month ago but now they postponed i feel
like people are like people's phones are locked in there it's not like it's a normal it's a normal
tocasue i wish we didn't people didn't match with where we with votes i'll be like okay anytime they
want to launch anytime they are okay with but i feel like with people money being made, I think it's taking a lot of time. That is what I'm trying to say.
Yeah, no, I totally understand the frustration there a bit.
And like I said, right, I'm in the same camp.
But like for us, it's like the merged thing is, you know,
was just like a goodie for the whole Wee holders to to get into world and it also doesn't make sense right to to
just talk launch the volt token um for like the 10 of the of the whole or like the 10 of the supply
to unlock immediately and then you know we're not ready with with free distribution or whatever so um i know it's it's frustrating but um you know the the launch
isn't too far out so i'm super yeah still super excited to to unlock you guys very soon after the
launch and and then hopefully everyone will will be will be happy again but i understand the
frustration and yeah but not i can say not everything, sadly, is perfect in life, and I understand it.
But yeah, we are pushing to have the token alt as fast as possible so everyone has access again to the vault.
X Arnegy, you're next up.
Hey guys, thanks. Yeah, cheers for the space, it's been good. JP recently sort of teased a feature that I was quite excited to see. It's a problem I ran into historically, where we can actually upgrade an existing wallet and sort of transferring it from a seed phrase into vault shares.
Hey, guys, thanks.
Yeah, cheers for the space.
It's been good.
into vault shares. I guess maybe I have two questions about this, but the first one would be
is it also possible to do it the other way around? Because I remember one of my early anxieties
about using this system was that I didn't have a way of sort of, I guess, decrypting the vault
shares back into a seed phrase. I'm told that it's possible. I just don't believe that
Vultisig currently has got any sort of easy, user-friendly way to do that. Does
that make sense? Yeah, no, like JPTs, right, we are quite close to have the
feature to import private keys into Vultisig and create vouchers out of it. But as we also already touched on earlier,
we have like the emergency recovery
where you can create a public key out of it.
But yeah, like first, as we recently
or like a few months ago upgraded to DQLS,
we need to upgrade also this emergency recovery.
I'll get that sorted asap and we also
have a great community tool i think that's something we need to um highlight a bit more um
some one of our awesome community members build a great recovery tool which makes it much easier
um to recover these public keys and then you know you can essentially import them in other wallets
but of course you know there are also other wallets like 4wallet for example like we touched
on earlier where you can also import the vault shares and and access it there if our app would
be unavailable awesome um if you don't mind just the second question while I've got it on my head.
I was kind of curious.
I've got sort of an example where I've got maybe some existing smart contracts that I've interacted with historically with a wallet,
but it is a wallet that I would be quite interested in upgrading
to the security of Voltichic Volts.
I just had a slight anxiety that if I go through this upgrade process,
does it create, you know, is there any sort of risk of incompatibility
with me maybe being able to then access my funds through this,
or I guess interact with smart contracts I've previously interacted with?
You know, does that make sense?
I guess it's just because I don't technically understand how this is working, but
I was almost concerned to change the security approach to something I've already been using,
just in case it kind of causes issues. Do you think that's a risk or not?
Not really. I mean, essentially, right, if you interacted with some kind of smart contract or
whatever, it doesn't matter if you're using like Vultisig or let's say legacy wallet with a seed phrase.
If you authorize the smart contract to do XYZ, whatever the smart contract does,
it still can do it afterwards.
You upgrade it.
But the same would be, you know, same with like a legacy wallet.
You can just revoke the access to the smart contract or negate the
access to it and then you would negate
the risks of the
interaction with the smart contract, if that answers your question.
Yeah, sort of. I guess maybe I've just realized
maybe I had actually misunderstood something.
Am I right in thinking the wallet would still actually work? Let's say I've got a MetaMask wallet that's got access to the wallet and I've interacted with the smart contract.
Just because I've upgraded the wallet to VaultShares via another wallet, Vaultysig wallet, doesn't mean necessarily that I can't still use the Metamask
just using the Cphrase.
It's not going to require that I then use the VaultShare approach, is it?
No, no, essentially not.
It's just like, you know, you can see it.
It doesn't matter if you use like a Cphrase wallet or a Voltisig vault.
Essentially what you're doing there in like terms of a smart contract,
you're just authorizing the terms of a smart contract you're just
authorizing the smart contract to do xyz and just the signing method is differently right and like
on a cphrase wallet you just um create the you know the the valid signature with with your private
key and it will just say you it would be like the multiple devices joining and creating the
valid signature but um that's why we also have the Chrome extension, right,
where you then just use the extension, same as your MetaMask
or whatever, connect to the smart contract of your choice,
and then just sign the smart contract from there.
Yeah, OK, perfect.
Thanks for the answers.
Deuces, you're up next.
Deuces, we can't hear you. You've got to unmute yourself.
And if anybody else wants to speak, come on up.
Maybe Deuces caved under their pressure here. I don't know.
Let's see. I'm approving you, Nicole.
Deuces might have to figure
out his setup.
Or maybe
X is working again.
I mean, we all know how X
Don't jinx it, man. I was just thinking that.
I mean, this space has been going great.
No rugs yet.
So, Nicole, are you there?
Can you speak?
I see you're unmuted.
You should be able to talk.
How are you guys?
There you go.
I can hear you.
Nicole, can you hear us?
Okay.
Good day, everyone.
Nicole, you're cutting in and out there.
I don't know what's going on.
Or is it me?
Can you guys hear me?
I can.
Pal, can you hear her?
Or is it me?
Yeah, but it cuts out a bit.
But I think if she talks longer, we should be able to hear her.
Okay, I said I just joined.
So I don't know if I'm late.
I need a recap.
Is that possible?
Yeah, I mean, we are nearing to our mark, so we covered quite a bit. Before I think re- or just summarize everything, best would be to listen to the recording if that's fine for you. Otherwise, we probably will need another 20 minutes to summarize everything.
Yeah, sorry, Nicole. Listen to the recording, please.
I'm going to... Jim, Jim, Nicole. Listen to the recording, please. I'm going to.
GM, GM, can you guys hear me now?
There you go.
Yeah, we can hear you.
Okay, can I speak now?
Am I allowed to speak now, Kenton?
Yeah.
Okay, GM, GM, Powell, Kenton,
everyone on the speaker room, GM.
My question is actually directed
more towards the token.
I don't know if that's allowed could break down the VOTESIC tokenomics, like including the token schedules unlocked and overall distribution of the Vult token? Yeah, so to quickly cover it,
essentially the main or the full supply
will be 100 million V.
6% of that will go to the AirDrop,
which is ongoing.
So anyone in the space who is using Vultisig
should join the AirDrop and get a part
or a share of these Volts.
So 6% goes to the airdrop.
We have like a few percent, 1.7%, I think, or something like that,
going to a strategic partnership with CoinMarketCap.
10% going to the WeWeMerge.
Then we have, you know, the treasury of us with i think 11 or 12 percent which um you
know we will use to to seed liquidity on launch um we have like around 24 percent which goes to
the early investors um who are also in a liquidity pool which are locked for around a year um and then we have another 30 which went to different investors um who yeah enabled us to have
this kind of runaway for the next three years to keep building they will be unlocked at launch
and then we have like a team part of i think uh 17 um which has a linear investing for for the next
four years um so that's how we we want to want
to be sure you know that the team constantly keeps building and and doesn't sell like too many tokens
at once so that's like i think the rough rundown in tokenomics most of the stuff we are aiming to
have you know directly unlocked on launch we want to have a low FDV, high float token launch. As the other way around,
you may be saw what token prices do in the long run. So that's our approach to the Vult token
itself. Does it cover it? Do you have any further question in that regard? Thank you very much.
You pretty much actually cleared out everything I wanted to know. Thank you very much, Pao. Thank you, Kenton.
Thank you, Deuces. With the Coke, you're next.
Hey guys, can you hear me?
Yep.
So I didn't have a question, but I want to just add on to the previous, not previous, but the guy before him,
who was concerned about going from the metamask
seed phrase to the multiseig system and he was asking like does it revoke any access to the
previous uh wallets or whatever so uh i would say that that's my gut feeling i just want to clarify
as well like as long as you don't um how do you say, like, if you just add another way to interact with your seed phrase or with your wallet, the other accesses that you created before do not get revoked if you don't just revoked on the contract level.
If it makes sense.
The guy who said, like, you didn't understand the signal.
Yep.
No, it makes sense. Essentially it doesn't matter what type
of signature creation you're using on the smart contract. It doesn't
matter how many different ways of access to the wallet you give for the
assets. It doesn't change anything the other ones that you previously give. So if you want to have any more access from the previous setups,
you have to move your tokens.
So as long as your tokens don't move,
I think you still have the access with the previous setups.
Yep, exactly.
That's great I think we've run out of
guests coming up to speak
Pal one last chance
is there anything you know you want to
we didn't touch on and talk about that you want to bring up
bring to people's attention any last
parting words you want to leave us with
yeah no I think we covered
a lot thanks for I mean space, really enjoyed it.
Mainly, I would say, guys, try the wallet, use it, give us feedback, you know, as it. And then, you know, just create the greatest wallet for everyone,
you know, when it comes from, you know, just single investors,
funds, DAOs, family offices or whatever.
I'm like super happy to build this wallet in that kind of way,
you know, close to the ThorChain ecosystem or ThorChain family,
just because I'm a ThorChain by heart.
And that's why, you know, we always try to push
and have like all ThorChain functionalities in the app.
That's why it's like, first we didn't want to have it,
but now we're soon also gonna figure
and push like a feature to have one-click LP deposits, similar to our in-app bonding already.
So we're always trying to support the Thor chats to have all features directly accessible in the
app. Apart from that, I think, yeah, I don't have like anything else to add. Use the wallet,
join the airdrop. I mean, if you, you know, store your funds securely in VultiSig without the issue
of getting exploited or losing your seed phrase or whatever, then just join the airdrop and get a
share of the 6% of the whole supply of Volt,
you know, without anything you need to do.
Of course, you know, you can increase it with swap volume multiplier
or holding specific tokens or NFTs, for example, like the Thorguards in your vault.
But essentially, it's like, I would say almost wasted money
not joining the airdrop and using
VultiSig. So go do that. And yeah, apart from that, I would say we covered most of it.
Great. Thank you. I think we did too. I'm pretty happy. I learned some new things. It's been great.
So yeah, people go, if you're on the Vault whitelist, make sure you reactivate your spot so you don't miss out.
What you did last year won't count.
You need to go reactivate it.
So yeah, so lots on the horizon here for Vaultysig.
I'm looking forward to the App Store and everything you guys are doing.
It's going to be cool.
There's more on the horizon for ThorChain, too.
I mentioned we have the new
front end coming out.
We've got limit swaps coming, rapid
swaps coming.
We have Solana and
Tron. It's still
every week is next week type thing,
but it should be coming out
soon.
Next week, we got Chad Bareford. He's going
to come on the space next Saturday. The week after that, we've got Baloney Bones from the
ThorChain community discord lined up. He's going to come join us. So that's our topics for the next
two weeks. And I just want to thank everybody for listening. You know, if you join the space,
repost it, you know, give us some more, you know, spread the love for us.
Talk to you soon, everybody.
