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Vaulta’s New Era: Partnerships, Rebrand, and the Bitcoin Gateway
Recorded: June 11, 2025 Duration: 1:06:39Space Recording
Short Summary
In a recent XSpace event, Volta's co-founder Dimitri unveiled exciting developments including strategic partnerships with Fosun and OKEx, the launch of ExatPay, and the introduction of XSAT, a product aimed at transforming Bitcoin into a yield-generating asset. These initiatives position Volta at the forefront of the Web3 banking revolution, signaling significant growth and innovation in the crypto space.
Full Transcription
Thank you. Thank you. you
hey hey everyone seems like we are live if If you can speak now as a speaker, so we can start.
So welcome to today's XSpace, where we are diving into the world of debt free banking, Bitcoin, the future of finance.
I'm Dimitri, co-founder of Satoshi Club, your host. And I'm beyond hyped to be joined by the one and only Yves LaRose,
aka Big Bird Samurai, CEO of Volta.
So if you're not following Volta yet, hit that follow button
because they're shaking up the crypto space.
Today we're covering everything for their massive partnerships
with Fosun, OKEx wallet, Epic rebrand from
EOS to Volta, why Bitcoin is the ultimate gateway and the game changing XAT network.
Plus, we'll sprinkle in some funny community moments and why not tackle a few spicy topics.
So stick around, drop your questions in the chat and let's get this party started so Eve welcome to the space
how does it feel to be here with our ex community actually how does it feel to be back we had an AMA
actually five or a few months ago no oh can you hear me yeah yeah all right hold on a second for some reason i'm getting some weird sounds coming in
oh can you hear me now yeah i can hear you perfectly oh let me try to rejoin because
i'm not sure if you can hear me i can't hear you i'll be right back okay maybe it's a problem from
my side. Just one second, we are checking technically if everything's okay. Thank you. Yeah, I'm hearing you well.
All right.
I had to change for some reason the desktop wasn't working. So we should begin now. Yeah, I'm hearing you well. All right. I had to change for some reason. The desktop wasn't working, so we should begin now.
Yeah, I'm from desktop as well.
For me, it's working fine.
But yeah, for mobile, I can hear it perfectly as well.
All right.
So sorry, I didn't hear what you asked originally.
It kind of cut off while you were starting your intro.
Okay.
So what I mentioned is the question is, how does it feel to be here
feel to be back after four or five years because we had back in 2020 I think an
email now telegram group so we are excited to have you back talk what
happened what happened during these years.
Yeah, it's been pretty good.
I mean, since we last spoke, a lot has happened.
So the network has hard forked, I believe, maybe even twice,
depending on exactly when we had the last chat.
We've rebranded, we've set our narrative,
and we're heading in a particular direction, which is focused focused on web3 banking we've announced a bunch of partnerships i mean there's a lot to get into
i love the energy and i love what's coming next so let's kick things off with the big news
you mentioned already the rebrand from us to volta this wasn't just a name change it's a full pilot i think to
let free banking so coin that called it a move to merge d5 with traditional finance
that's right open swap and a banking advisory council so if could you walk us through why us
became volta in the first place and what this means for the community yeah so i mean the the rebrand effectually uh started
i'd say approximately four years ago when the foundation was launched uh when the network
i think i lost you for oh oh i can hear you now okay um yeah when the network first launched we essentially didn't have a
foundation and so when we first came into play we needed to start acquiring ip create our own ip
uh we needed to obviously get our own code get the developers in and so we started from scratch
and so one by one we essentially started this this rebrand. And rebrand, effectively, is kind of on a spectrum.
On one end, status quo, nothing changes.
And on the other end, at the very end, is where you get a new token ticker and a new name.
And so over the last four years, we've been creating functions and features in the code stack.
We've been making investments.
We've been doing partnerships.
And everything really aligned in that Web3 open finance, so Web3 banking open finance space.
And so when we did the final hard fork or the last hard fork back in the fall of last year,
we completely changed the underlying consensus algorithm, and we launched with a new code stack called Savannah.
And so then we felt it was time at this point to kind of finalize that rebrand with a new name
and a new token ticker that really symbolizes all of the work that we've done, who we are,
and where we're heading. Because the old brand didn't really fit with the direction,
and the old brand really wasn't ours. We inherited it, but we didn't create it.
So it didn't stem from the community.
It wasn't really paired with the direction
that we were heading in.
So from a business point of view,
there was a big mismatch there.
And so with that new brand,
it really, I guess, solidifies our stake
within that Web3 banking space
in terms of what we've been working on,
where we're heading.
And it really gives kind of the community and all different stakeholders part of the network
a better sense of what we're working on, who we are, and where we want to go
so that people can kind of follow along and have a better alignment between our brand,
our name, and who we actually are and what we're working on.
Makes perfect sense for me.
And how is the community reacting?
Any funny memes or hot takes about the rebrand?
I don't think I've noticed any funny memes,
but so far the community has been reacting pretty well.
I mean, we've seen people take over the branding and kind of make, you know, some adjustments to it.
Or really even some companies started changing their name in order to be aligned more with the brand.
We've also seen new partners reaching out, people that had somewhat forgotten about the network.
And this really gave kind of a new breath of life with people recognizing that one,
we're still alive and that we're working on something that aligns with what they're working
on. And so it really kind of gave a new breath of life within old partners, but then also a bunch
of new partners joining, a bunch of new people seeing that what we're working on aligns with
what they're working on. And so we saw, especially at the investor level and at the institutional level, we see a big
uptick of new people.
And really, that's what we wanted.
We wanted, especially the institutions now that Bitcoin ETFs are out, that the American
administration is more favorable towards crypto, we wanted to signal that we're there, we're open
for business. And with the institutions, that's really what we're getting, because it aligns with
what they want, it aligns with the product stack that they're looking for. So if I take, for example,
a lot of the larger institutions that are coming in through the Bitcoin door,
they're looking at leveraging their assets, their digital assets, in a very similar way to how they leverage their non-digital assets.
And there's really very few, I guess, options for them out there in the same sense, especially with a company that has a track record in the jurisdictions that they're in, because we've been set up in North America.
So in Canada and in the U.S., Vault has made it in America type of thing.
And so, you know, with a track record of being there for years prior to the administrative changes, prior to Bitcoin ETFs being approved, that track record is really useful.
And so we've seen, you know, partners come in that I guess traditionally we wouldn't have seen.
So it's a different kind of community member that's joining us,
and it's really positive for us.
All right, very interesting.
So for our community, just a shout out.
If you have any questions, drop them in the chat in the comments.
We'll go through them a bit later.
Or if you want to ask a question live, raise your hand, request to speak.
And later on, after half an hour, 40 minutes
after we talk with Yves, we'll get on stage as many people
as we can and hear your questions.
So in the meantime, you mentioned
you're made in North America, partly in USA.
So does it help you now with the new Trump administration because I've
seen I don't know if it's true or not rumors news that they wanna let's say add Volta in their
reserve national USA reserve also that they want to invest through their world financial World Liberty Financial in Volta? True.
So I guess short answer, yes.
I mean, all of our protocol developers are in the US.
I mean, Volta is literally made in the US and it has been from the very beginning.
And so without going into too much detail
because there's things that are not public,
so I can't really release much,
but you did see that World Liberty Finance uh did openly buy uh Volta tokens they bought six million dollars
worth uh about a month or so ago um so you know kind of pending on announcement for something to
come out there but yes it has helped us a lot and I just came back from Vegas uh where uh we we had
a large presence there at Bitcoin 2025.
And being based in the US or being based in Canada as well with those two jurisdictions definitely is favorable
from a regulatory point of view.
As I mentioned just before in the last question,
it's not just being based in the US,
it's having the track record for the last four years
have been being compliant in those jurisdictions.
So we see with this new administration, companies that were set up outside of those jurisdictions now coming in.
But their track record is only a few months old in those jurisdictions.
So they can't produce audits, they can't really showcase that they've got a track record of being compliant in the US, for example.
Whereas in our case, we've done so from the
beginning. And so we did so when it was very difficult. We did so when it was actually quite
hostile to companies to be able to set up and properly set up and publicly set up in the US.
We have that track record. And so it gives just that extra confidence to institutions that during those
hard times, we were compliant. And now with the favorable administration, it definitely does give
us an edge. You mentioned, you know, World Liberty Finance, as I mentioned, you know, they, we've got
something going on with them, more to come. But overall, you know, TLDR, definitely that has
helped us. And we see that with the current administration, there are definitely advantages to those that are set up there and that have been set up there.
And so that's opened a lot of doors for us with other partnerships, but also just reinforcing our presence that we are a compliant company.
And from that banking perspective, that we're really made for that.
And so, yeah, very, very good for us.
Yep, totally agree.
Since you mentioned your last conference, what's in Vegas stays in Vegas?
Or do you have some spicy news and updates that happened there
that you want to share with us?
No, what happens in Vegas is public to everybody.
I guess if you go there for personal reasons, maybe it stays in Vegas.
But in our case, I mean, we had a really large team that was there.
We were about 20 people, a little over 20 people.
We had what was called the Exat Village, kind of the Volta Exat Village.
We ran a hackathon.
We had, obviously, the booth presence.
We had stage presence.
We have Tristan, our CMO, who gave a keynote on the Genesis stage.
I gave a keynote on the Nakamoto stage.
And we announced a lot of partnerships.
And so we had been working on this for quite some time.
Obviously, paired with the rebrand, we wanted to make some announcements.
And so we announced a few things while I was on stage.
And those things are pretty big for us.
I mean, we can go into detail, but essentially we announced a partnership with our further partnership with Cefu a few days before.
We announced a partnership with Standard Chartered and OKEx, one with OKEx Wallet and one with Fosum.
And so for us, it was an opportunity to be able to display what we've been working on alongside that rebrand
and really finalize that rebrand too.
So if you notice the exchanges paused and withdrawals deposit
of the old token, and they re-enabled them while we were in Vegas,
essentially pretty much the day of my keynote.
So coordinating all of that obviously obviously, is months of efforts
to be able to bring it down to the exact day,
literally to a few hours of my keynote.
And so the breadth of logistics to be able to do this
and have this widespread where I believe now
the token has migrated on over 70 exchanges.
I mean, we're listed previously on over 200.
So one by one, they're all coming in.
But those 99.8% of the volume has already migrated.
So to coordinate all of that, to have that all in place,
and then to also have a lot of marketing campaign,
and we've got a few other campaigns that we're announcing in the next few weeks
in terms of trading competitions, in terms of staking platform integrations, et cetera,
all of that was leading up to Vegas.
So in our case, what happens in Vegas actually is quite public
and we're really proud about that
because a lot of work went into announcing products.
One more that I even forgot to mention is ExatPay.
So we launched ExatPpay, which is a Visa card
that you can load with stable coins,
and you're able to access it either through your traditional bank
or on-chain funds, and you're able to load that,
and you're able to pay it at point of sale,
essentially using your stable coins.
Yeah, I was going to go into the details of your partnerships later on,
but thank you for mentioning them now.
And what I also wanted to mention is that
many people think that going to conferences
is a waste of money and time.
And what I'm hearing now, it wasn't the case for you
because you actually achieved a lot of stuff there
in Degas, right?
Yeah, so I would agree with the general sentiment
that it can be a waste of time.
Going to a conference can be extremely expensive, especially if you're sponsoring.
And so you need to be very, I guess, wise with what your intentions are, what the you know, what you're trying to get out of the conference.
What are you know, what are your KPIs? And in our case, we are very rigorous in terms of what we expect when we go to a conference,
whether it be the number of media interviews we want to do,
the number of meetings we want to have,
the kind of partnerships that we want to expand upon,
whether it's partnerships that are currently in the works that we want to close in person at the conference.
In our case, we set very high expectations of everybody that is going.
And so for us, the conferences,
I would say largely are very positive ROI.
I mean, my schedule from morning to night,
back to back to back was just one meeting after another,
meetings that we had pre-planned,
meetings that we had set up,
because it's an opportunity while others are in town
in the same location to be able to either advance files
that have been ongoing and
you're solidifying them. So either you're closing the deals or you're moving them forward, or to
set up new potential partnerships because both of you are in town and you're able to meet in person
and advance those files. And so I would say for us in this case, for sure, very positive IRI.
At the same time, you're right though. I've seen a lot of people go to conferences, companies deploy massive amount of capital,
and I don't think that they're leveraging it properly.
It's a lot of work.
People believe that going on a business trip is fun.
It's not fun.
It's a lot of work.
They're extremely long days.
You're waking up five in the morning, you're going to bed at one or two in the morning,
very little sleep, rinse, repeat. It is extremely taxing on your system. But if you do it
that way, then it can be very rewarding and the ROI can be very high. Yeah, I love your thinking.
It's very practical and this is how you can achieve something, right? And speaking of partnerships,
how you can achieve something, right? And speaking of partnerships, Volta is... I wouldn't be wrong
if I would say Volta is making some waves in the crypto community and especially with many of your
recent partnerships. For example, with Posun Wealth Holdings, so you're powering Finchain,
their virtual asset business in Hong Kong with Volta's BankingOS and Exxas Digital Banking Platform.
So this is like about compliant blockchain native finance.
So why is Hong Kong the perfect launchpad?
And what's Finchain bringing to the table?
And one more thing to add.
So Fosun's got licenses like in-date when, when they want to, like SFC types, one, two, four, I think, six, nine, just numbers, right?
But they all have their unique, I mean, what it unlocks.
Yeah, and they have quite a bit.
Yes.
And how does their regulatory muscle help Fosun scale?
scale yeah so i mean fosin is a huge conglomerate i think under management they have uh 920 930 uh
Yeah, so, I mean, Fosun is a huge conglomerate.
billion rmb in assets which in us dollar terms is about 120 billion dollars worth of assets
under management so it's it's a large conglomerate and um why hong kong and then why Fosun and what we expect on doing with that or what is the plan?
So Hong Kong, for one, has been a space for us that we've been dedicating a lot of time and
resources into because it's kind of the extension of where mainland China is setting up for the
crypto space. So most people know mainland China has banned cryptocurrencies. And so there's very little space to be able to access that market.
But Hong Kong essentially has been set up as that, in a way, special economic zone for
mainland China to be able to experiment and to be able to pioneer within the blockchain space.
So we set up there a while back.
We have some engineers there and we've done a bunch of work on that front.
We were one of the first chains, I guess, and companies, entities that were accepted in the Cyberport incubation program.
I myself have residency in Hong Kong because of this, because I was going quite frequently to be able to advance files.
We have a few partners that are there, whether they be funds or other developer companies.
And so we have a large presence in Hong Kong,
and we wanted to expand upon that.
And Fosun is a really, really great partner for this,
for a few reasons.
One, as you mentioned, they have a lot of different licenses.
And Hong Kong is quite small in terms of territory, but it's quite large in terms of
population and it's a financial center. And so, you know, it constantly battles between being the
third or fourth financial center of the world. Right now, I believe it's ranked third. And so
there's a lot of capital flow to and from Hong Kong. And so that's perfect for the Web3 banking
ecosystem. And the license, I guess the web3 banking ecosystem and the license um i guess
the crypto side of licenses and crypto signed registration is is quite there's a framework and
it's it's very well regulated and they're advancing very rapidly and so fosun is looking at uh being
able to leverage that and so they needed a tech partner and they needed somebody who understood
the space and somebody who's regulated in that jurisdiction, which we are, somebody who's regulated in other jurisdictions like the US and
Canada, as we are. And so this partnership is really good because we're able to leverage the
assets that they have under management, the licenses that they have, and kind of the network
that they already have established, the capital that they already have under management. And
they're able to leverage our expertise within kind of the more technical side of things,
the blockchain side of things, and the presence that we have in other markets.
And so the FOSUN partnership is a multi-pronged partnership.
There's a lot of components to it.
But essentially, at a high level, we'll be able to benefit off of each other.
We'll be able to help expand of each other, we'll be able to help expand
their presence within the digital asset space, and they'll be able to expand our presence
within the TrapFi space in Hong Kong as they're such a large conglomerate.
And so with this, we should be able to see more.
I guess if you look at our Volta different pillars, we've got the third pillar, which
is asset tokenization. This is really going to help us out on the assetta different pillars, we've got the third pillar, which is asset tokenization.
This is really going to help us out on the asset tokenization side, but also on the consumer payment side, because they've got fiat on-ramp, off-ramp within Hong Kong.
And so we'll be able to leverage what they have and the work that they've done.
But also it'll set the stage in terms of architectural blueprint for the kind of partnerships that we're looking for, but in North America.
And because FOSUN is such a large, well-known name, it also gives confidence to other institutions that we know what we're doing and that we can help support them and that we can really
kind of benefit from each other.
And so we've had partnerships in the past, but this is definitely the largest one we've
definitely the largest one we've had. So if you're in Hong Kong or if you're in mainland China,
had.
So if you're in Hong Kong or if you're in mainland China, you've heard of FOSUN.
you've heard of Fosun. But Fosun as a conglomerate, even if you go and you look at their
portfolio, they have, you know, they own and they have ownership of companies all around the world.
For example, in Canada, they own Cirque du Soleil. So I think in English, Cirque du Soleil,
which is a huge entertainment, I guess, entity that has presence in Las Vegas.
For example, they have the OSHO.
They've got restaurants.
They've got retail.
They've got real estate.
They've got finance.
They're massive.
And so all of that, they're looking to integrate blockchain technologies within that to be
able to tokenize either the commodities or the securities.
And we're able to provide those solutions through the XSAP banking network,
which essentially is our flagship product on the Volta network.
And so this partnership really sets the stage for what else people can expect
from us and for other institutions that we're in talks with and that we'll
announce within the coming weeks and months to set the stage
for the kind of partnership that we can do at the level that we can do.
But it's taken us a lot of time to be able to position us to be able to do this kind
of partnership.
It's not a simple kind of one for one.
There's a lot of different moving pieces in this.
And to be able to do that required a lot of creativity, but also maturity from the different entities that we have and the different, I guess, functions that we can provide to a large institution like FOSUM.
And so we're really, really happy with that one because it'll help open a lot of other doors, very similar doors as well.
doors as well.
It's a strategic move.
And now
everyone has high expectations
from you and you have to deliver the same partnerships
and strategic moves in the future.
So keep the good work.
And another massive move
was or is
actually the OKEx and
OKEx wallet partnerships.
So OKEx is now Volta's
main wallet provider letting you trade Volta accounts,
stake on chain, access BTC5 products right in the wallet.
So how does OKEx multichain tech and user base supercharge Volta's adoption?
And they also support over 90 blockchains.
How is that interoperability playing into Volta's adoption and they also support over 90 blockchains how's that
interoperability playing into Volta's vision? Yeah so one of the the I guess
challenges that we had with Volta is that our account creation system and I
guess the permission set around accounts and what you can do with the
permission sets on Volta is pretty advanced.
And so it's kind of a double-edged sword.
On one end, for, I guess, basic users and basis use cases, it's too advanced.
And so it makes things somewhat too complicated.
And so if you're, you know, if you're a developer or if you're a larger institution and you require
permission gardens within this permissionless blockchain, or you require kind of the fine-tuned
micro adjustments that you can't natively do on other chains. So think of, for example,
Ethereum, if you want to do MSIGs, you need to use Gnosis as an example. We've got this embedded
at the protocol level. It's very perform you know, it's very performant.
But for other blockchains, you know, a simple account is a pair of publicly private key.
In our case, you've got legible account names, so 12 character account names,
but you've got extra resources.
So our system is more advanced.
And with that, you know, extra, I guess, with those extra features
comes that complication. And so we've seen that it's been kind of complicated for users to be able
to leverage our native protocol over the years. And so we've made a lot of work on advancing that,
but we really needed to have kind of that, if if you think in in the gaming mode or or you
know if you're a gamer when you load your game you've got from your story mode which is very easy
all the way to you know hardcore mode very hard nightmare mode whatever it is ee-haw uh not eeos
but volta natively had uh you know it was more kind of on the difficult very difficult mode and
we were able to get it down to, let's say, medium or easy.
But with the OKEx wallet partnership, it really brings that down to very easy. It brings it down
to story mode. People are very much used to using the OKEx wallet. They have roughly 50 million
users. So clearly they have market penetration and the ease of which you can leverage their
wallet. Obviously, very, very easy. They've got embedded DEX in there.
And so we wanted to unlock that for the vast majority of people
that might have a particular use case for the token
that maybe is not that advanced.
Maybe they simply want to hold.
Maybe they just want to trade.
Maybe they're already in the OKEx wallet
and they just want to have some exposure.
They want to be able to stake.
We wanted to have that and meet the users and the token holders where they are.
And the token holders right now are on OKEx wallet, 50 million of them.
And so we've done a lot of work with exchanges and OKEx in particular with different programs.
And we'll be launching more alongside this partnership and what this opens up.
And so for us, that OKEx partnership is a big one.
I mean, obviously, we announced the wallet.
We also announced Standard Chartered with them, which is kind of their mirrored custodian
solution, very similar to what we announced with Sefu and Binance.
And so that opens up further doors on there as well.
But kind of this sets the stage.
So if you think about what we've announced so far, also, if you really point,
you take the points and you start drawing a line,
you can see what's coming next with OKEx.
You can see what other either campaign activities
or other kinds of initiatives
that we could be launching with OKEx.
And it's pretty obvious
if you take a few minutes to think about it.
But this one just really opens up kind of that story mode, that very easy mode for a lot of users that, you know, that they're used to that UI.
They're used to that portal. They're used to interacting with the blockchains in this specific way.
This opens that for them at the really easiest level.
at the really easiest level.
And so for us, that's a really big one
to be able to onboard more users,
which then will give exposure, like you said,
to our other products,
whether it be staking on chain,
whether it be perhaps the FOSUN asset tokenization
that we'll have, you mentioned XSAT,
so the XSAT suite of products that we have as well.
So we'll have that all embedded within the OKEx wallet.
So that way the user just has a one-stop shop for a lot of people.
That will be their first point of entry.
That might be their only point of entry.
And so to make it compatible with our chain,
but to make it compatible in a way as well that we're not creating a walled garden
where you need to use OKExWallet in order to access the other products
or the other products somehow need to integrate within OKExWallet in order for the users on their platform to be able to have access to.
There was a lot of tech work done in the background to ensure that it's quite smooth.
So that's another one that we're really happy to have announced because we've been working on this for a very long time. And the breadth of cooperation with OKEx is
just getting started. And so there's only a few things announced, but there's definitely
more on the way.
And also maybe, I don't know if you can announce it or not, maybe in the future, we have the
pipeline like Binance, BitGet, OLED it or other wallets similar wallets as I can't announce that right now right now you know our focus is is
with the wallet obviously having announced it I'm sorry you mean not yet
no I can't I can't announce anything yet but yes you can you you can just think
about that you know more more of these should be along the way. Yes.
That's cool.
Looking forward to it.
So we can talk XSAT network as well, like your partners, big partners.
So it's like Volta's flagship digital banking platform,
Bitcoin scalability beast.
So it's got a hybrid consensus, proof of work, proof of stake,
delegated proof of stake, and 39 validators like, okay, XRT, hashK, and so on and so forth.
So as of last month, XSAT was sitting on around 5,500 BTC stake and 600 million TVL.
stake and 600 million TVL.
So why is XAD the ultimate Bitcoin gateway?
And how is it transforming BTC from digital gold to yield machine?
And why is this partnership important to you?
So XAD is our flagship product.
I mean, it's it's it's been incubated in-house.
And so it's part of our network, essentially.
And the goal there was really to create a bridge to Bitcoin.
So we're aiming to be the Bitcoin transport layer.
So think about how Tron is essentially the USDT transport layer.
Tron is essentially the USDT transport layer.
We are trying to position Exat and inherently Volta underlying Exat as the Bitcoin transport layer.
We believe that, you know, right now the majority, and it's not we believe, the majority of the assets that are entering the greater blockchain ecosystem are coming in through Bitcoin.
That is pretty obvious at this
point. And especially with the Bitcoin ETFs having launched last January, we see that that's where
the majority of the capital and institutions are coming in from. And as I mentioned earlier,
those institutions, when they're coming in, they're used to leveraging their non-digital
assets in a specific way. They want to earn yield on them. They want to be able to collateralize
them. They want to be able to tokenize further assets, leveraging those digital
assets. There's a lot of things that they're currently used to doing that they can't currently
do with Bitcoin. They can't currently do with digital assets. We saw this coming a while back.
We knew that at some point, it's just a question of time, if you believe in this, that you'll be
able to do whatever you currently can do with your fiat, you'll be able to do with your digital assets.
And so we wanted to position ourselves very early on in the market to be able to offer
a solution for that. And so that's where ExSat comes in. And then in our approach and in the
way that we did it, I don't call ExSat a layer two. I don't really believe that there are any
Bitcoin layer twos. I think there are a lot of scaling solutions and we're aiming to be one of them. We are one of them right now.
And as you mentioned, we have a little over $600 million worth of Bitcoin locked on the network.
And so the idea there was to be able to position us in a way whereby we can be the data availability
layer. As far as I know, outside of the Bitcoin network itself, we're the only decentralized UTXO database
that's out there.
To be able to create that
is extremely expensive.
The, I guess, economics
of being able to provide
essentially another decentralized UTXO database
mirroring Bitcoin are very complicated. It is very expensive.
We are able to do this because we have Volta at the core, because we essentially already have
incentives for infrastructure providers. We already have tokenized RAM so that we're able to
store that data, but in a RAM database. And so, you know, the access times are incredibly low
and we have an economy around that.
We wanted to be able to replicate as well in terms of as close to possible the robustness and the security of POW.
That's why I say also we're not a layer two.
And that's why I don't believe that really there are any layer twos out there, because the layer in my opinion in order to be you know designate
as the layer two needs to impact the layer one um what i mean by that is if if the layer two goes
down and the layer one is not impacted it's not a real layer two in my opinion so it's a scaling
solution and so we wanted to be as close to a layer two as possible though in terms of how we
design the architecture so that's where the hybrid consensus mechanism comes in with pow and pos when we were designing that as well we were looking at
okay well who's you know if we want to have this mechanism and we want to be able to synchronize
that utxo data who's the best or who are the best stakeholders to be able to do this well outside of
the you know the miners the the the bitcoin miners themselves really, there's nobody. So if you take the people that
literally created the data in the first place, and you incentivize them to be able to synchronize
that data, that's as close that you can get to POW as possible. So that's where the Bitcoin
miners come in on our network, we have a little over 50% hash rate. And we're working towards
getting that 85 to 90% hash rate. That's really our goal and our target.
We're missing two key miners that we've been focused on for a while.
They've got very specific requirements.
So that's where also that made in America and that US presence comes in.
Once that data is synchronized on the network by literally the same people that created it,
then you need to incentivize people to validate it.
And you mentioned a few of the validator names.
So we wanted to position ourselves again with known trusty individuals our mechanism
to be able to do that with you know requiring 100 bitcoin stake obviously increases the tvl but also
aligns the intentives to make sure that um uh the the people that are validating the data are also
in a position to to be good actors and so that really kind of sets the stage for
the foundations that we want, because the idea then is to be that Bitcoin transport layer,
to be the Bitcoin scaling solution. Part of it is that data availability, and the other part is more
that scaling component to it. So for us, Exat is a huge milestone. It's our flagship product. That's
where we're creating a lot of our
banking products alongside that. And the reason why we went the EVM route as well is we've seen
that over the last, you know, whatever, 10 years or so, well, roughly 10 years or so with Ethereum
starting, that's where the majority of the DeFi and I guess smart contracts, audited smart contracts,
kind of that innovation is stemmed from is really on the Ethereum space.
So creating X at the EVM layer, but essentially running on Volta was really the right fit for us.
It enables people that have been working in DeFi space to be able to now port over their applications with ease, with very minimal overhead, technical overhead, to be able to
leverage what they've already built, but then now tapping into this Bitcoin liquidity.
And likewise, for the institutions, it enables them to be able to leverage the capital that
they just purchased in terms of Bitcoin, to be able to leverage it to now access, as I mentioned,
yield collateralization
initiatives, tokenization initiatives, et cetera.
And so it really aligns all of our different pillars together in that EXAT banking solution
space, all while leveraging Volta at the core.
And so everything kind of comes into place with that.
And we've been able to position ourselves very well while we were in Las Vegas and the
other Bitcoin conferences that we've been able to position ourselves very well while we were in las vegas and the other bitcoin conferences that we've attended we really don't have anybody else that's positioned in the
same way as us um when you when you go to bitcoin conferences what's unique compared to let's say
token 2049 or other uh conferences everybody's working towards the same goal which is leveraging
bitcoin and enhancing bitcoin the the the competitiveness is leveraging Bitcoin and enhancing Bitcoin.
The competitiveness is different.
When you go to a different conference, you've got a bunch of different layer ones and layer
twos all competing for the same market space.
Whereas in Bitcoin, nobody's really competing against another.
In a way, they're all working in collaboration to enhance Bitcoin itself.
And we've been able to position ourselves quite uniquely within that particular ecosystem and space in a space that's traditionally very reluctant to accept outsiders in a way,
because a lot of Bitcoin holders are maximalists. But we've seen a shift over time with institutions
coming in, They're looking to
leverage their assets in different ways. So you need to be able to be accepted within the community
and offer a solution that's not competing, but that's collaborating and that's amplifying,
that's leveraging, while also being innovative and taking into account kind of how this space
has moved in terms of technological improvements
since Bitcoin was created all the way back 16 years ago.
And so it's a very unique position that we're in.
And we're really happy that we've been accepted within that community
and that we have a very significant, I guess, presence within that space as well.
And I don't know if you're intended but i noticed
um let's say a subtle advice here maybe just for me for my brain um so what what you're saying
basically is that bitcoin dominance will still continue to grow and keep the liquidity from
institution institutions actually to not go to other chains, layer 1s or layer 2s,
or whatsoever.
And at the same time, it will keep draining liquidity
from Ethereum, Solana, Tron, and so on,
because it's implementing scalability solutions.
And it will offer basically the same or even better solution
than they already had on chains so not
a financial advice but if you're listening maybe you should consider this uh narrative as well that
bitcoin considered to grow its dominance and attract liquidity from other chains i don't think
that it's exclusive so i think that both can exist. But I do believe we see, especially in this cycle, it's not the same kind of cycle that we've seen previously.
Usually, you know, it went from Bitcoin dominance to Ethereum dominance to then all coins. We're seeing this time that Bitcoin dominance is very high.
We're seeing that the majority of the capital is pouring into and coming in through
those Bitcoin doors. And so from our point of view, what we see is amplifying that and leveraging that
is a unique opportunity. We see kind of that pendulum swing from going back to the original
roots, going back to, all right, I've've got bitcoin that's the king now i want to
leverage it and that's what's been missing is i want to do something with it and you've not been
able to do anything with your bitcoin up until relatively recently i mean we had the advent of
ruins ordinals that was arguably one of the first kind of more mass adopted and i use mass loosely
because it's still very nascent and very small in the grand scheme
of things. But the first mass adopted use cases leveraging Bitcoin in a different way other than
just to basically buy in the huddle. But those institutions, as I mentioned, they're coming in
and they're looking to do things that they concurrently do with their assets. They're coming in and they're looking to do things that they can currently do with their assets.
They're looking to do that with now their Bitcoin.
And to be able to position yourself to do that, to be able to position yourself within that market, the opportunity, we're seeing more and more people do that.
But we started a while back.
And so we've got, you know, we're quite far ahead compared to if there are future competitors.
And you see that reflected in the TVL.
You see that reflected in, I guess, the announcements we've made and the presence that we have.
We are in a very unique position.
And we believe that the market is going to continue going that direction, that Bitcoin is going to continue growing.
that Bitcoin is going to continue growing.
And to be able to leverage those assets and position yourself
kind of as a scaling solution for Bitcoin, in my opinion,
is a better position than, let's say, to try to leverage Ethereum.
In part because the Ethereum scaling space is now so big
that everybody's in competition with one another.
The liquidity is fractured.
They've got a lot of governance issues in the Ethereum space.
They're kind of a little bit lost in terms of, you know,
where they fit in the broader ecosystem.
And somebody gave me a story.
They kind of likened it to when a kingdom gets so big that the different
five-thems under the kingdom no longer need to, in a way, repatriate taxes back to the kingdom, because now they're so big that they
can just act on their own, but it creates a fractured ecosystem.
Bitcoin doesn't have that right now.
Bitcoin is just an opportunity waiting to happen.
And we've positioned ourselves, I think, really early on in a very favorable position within that in a way that really creates the incentives that aligns it so that we're not
recreating what has occurred, I think, over the past four or five years in the Ethereum space.
So I do believe that what you mentioned is right, but they're not mutually exclusive. I don't think
it'll drain liquidity everywhere. I don't think it means that the others
don't have a space to grow.
It's just a unique opportunity that we've,
you know, whatever found
and that we're trying to leverage early on.
And we believe it really aligns with our values
and the tech that we built.
Yeah, exactly.
I agree with you.
And I've added a speaker from the community to see the pulse
of the listeners to see what do they think about what we've talked about until now so i've added
alpha mr dollar 26 so you you can ask your question yeah guys i'm a rebel yes okay uh so Yes, Maradago? Yes. OK, so my question for Vauta, can you
discuss Vauta revenue generation model?
Like, how do you plan to balance your generating revenue
with also maintaining competitive with other projects,
and also in terms of your user-friendly fees? ALF. Alpha, I couldn't hear you very well,
but I believe what you asked is how we intend on generating revenue
and something about the fees, how we intend on keeping fees low, perhaps?
Is that correct, Alpha?
Yes, yes.
Okay, thank you.
Good question.
So the way that you bring it up actually is really interesting. One of the things I've been talking about lately is how I believe within this space, we're still very nascent. We're still quite in an infant stage. Think about, you know, pre-bust in the 90s internet boom, where a lot of the companies were being valued based upon the amount of views that
they had on their web pages. And that's how companies were valued. And so you had obviously
very overinflated valuations for companies that really didn't have any fundamentals and
really didn't have any revenue generation. That obviously went bust. And then the markets
matured, the capital matured, and we started to see more prevalence of P ratios.
And so revenue became important, obviously, and then actual fundamentals became very important.
And I think that we're very, you know, we're similarly in a stage like that in the blockchain space where the majority, the vast majority of valuations right now are completely speculative and they're not based on any fundamentals at all.
And there's value to that. In order to be able to grow a space from scratch, you do need kind of that hype.
It brings in capital. It allows developers and entrepreneurs to be able to innovate.
And so it gives them access to capital. And that's, I think, part of one of the big innovations of blockchain is to be able to give capital to the hands of people
very, very early on. And so we see that the level of innovation that is occurring is incredibly
quick, right? So we see generally tech go faster and faster and faster. And I think that with
blockchain, that financial aspect is a huge improvement upon the systems we had previously.
But with that also comes a downside. So we see that the majority of the projects really don't is a huge improvement upon the systems we had previously.
But with that also comes a downside.
So we see that the majority of the projects
really don't have anything.
And at some point, I think there's going to be a reckoning
where the markets are going to spartan up
and you're going to need to actually generate revenue.
And your market cap and your market valuation,
your token price is going to be linked to
can you actually provide an actual service?
Are you generating revenue?
And can you be sustainable?
And so we are positioning ourselves for that with those products and solutions that we are building.
As I mentioned, Tron, I guess by default right now is the transport layer for USDT.
And if you look at the Tron revenue arguably i would say that tron's
valuation is probably one of the closer ones to reality because it actually generates value it's
actually used it generates i forget what the the amounts are but you know between two to five
million dollars a day in in actual revenue because of transport fees etc we're trying to position
ourselves to do that but with bitcoin Bitcoin. And so right now,
whether it be the synchronizers, so the mining pools that synchronize the UTXO database into
Vault-O-RAM, or they'd be the validators who then need to push data to be able to validate,
they're generating transaction fees. And those transaction fees then go back to the token holders
and the tokenomics are all published. So feel free to go and look at those.
And so it incentivizes people to participate in the ecosystem.
And then all of our banking solutions, all of our banking products, initiatives that we're launching, all of them have embedded very small fees in them.
And so the idea is to have economies of scale.
the idea is to have economies of scale. So kind of answer more the second part of your question,
what we've ensured with Volta at the core is that our transaction fees remain essentially
negligible. They're practically non-existent. I mean, Volta as a tech stack for a period of time
was doing roughly 150 million transactions per day, and it could sustain even more. And we're
talking about years ago now, like five years ago or roughly at this point. And so since then, the tech stack has
improved even further. And so our transaction fees are essentially non-existent. I mean,
they're minimal. And the idea there is that you're able to scale out. So it's kind of a
double-edged sword. In one way, if your network is not generating enough transactions, then they
can't generate enough transaction fees to be able to have revenue that's really sustainable. But
if you position yourself where the transaction fees are too high, then as soon as you start to
get momentum, then it becomes prohibitive. And we see that that's pretty much the standard
everywhere else. The transaction fees are high enough
that people don't really feel them
when there's not much movement,
but as soon as there becomes enough transactions
on the network, it becomes prohibitive
and you kind of block yourself.
You set your cap too high too early.
In our case, the cap is very low
and the idea is to be able to scale out.
And so we have always positioned ourselves to be
able to handle hundreds of millions of transactions. That's where we see the future going. We don't
want to be the chain that can handle a little bit of movement and that they're blocked. We want to
be able to be the chain and the underlying protocol that when this thing hits, when there's
mass adoption, and we see that coming through the financial space, that's why we're positioning ourselves in the Web3 banking space, that when we're going to start to
see products like that, that literally need to leverage the blockchain for its inherent properties,
that we will be able to handle all of that demand. And we'll be able to supply it. And then that's
going to generate the revenue to be able to be sustainable in a similar way, like I mentioned with Tron and USDT, where it at some point generates enough value to be able to feed itself, to
be able to reduce reliance on obviously external tokens and inflationary or bringing tokens
into circulation.
So we've aligned all of our tokenomics with that.
We've aligned all of our product stack and the technical solutions around that. And those partnerships that you're seeing coming out, that is an extension of that. So it's
really the continuation of everything we've been working on, focusing on being able to provide
real fundamentals, a real product to be able to actually generate revenue. Because at some point
when that capital is going to mature and this space is going to mature, I believe that that's when the valuations will start to smarten up in a similar
way to when the internet, as I mentioned the 90s, smarten up and the number of views that you had
on your webpage was no longer adequate to value a company. We're positioning ourselves for that.
So we're definitely in it it i would say for the long
game but in the short term as well you you can see that all those pieces are falling into place
thanks a lot for explaining that so i was browsing through the comments while you're explaining and
i've seen some interesting questions so i'll read one from mel pier. So with all the recent or near future changes and partnerships,
what single thing will bring the biggest global impact for Volta and Exet in the Web3 banking space?
Wow, so I need to pick one thing that's going to bring the biggest change.
I think that, I mean, the F change um uh i think that i mean the fosin announcement is is
very big uh fosin is a massive conglomerate and the the blueprint and the way in which we created
that partnership and how we're able to to replicate that with other institutions is is quite massive
if we look at um the tokenization space and we look at other platforms
that are providing our WA services, they're talking about we onboarded a couple hundred
million dollars worth of assets that are essentially being tokenized or we have the potential of the
potential and everything is the potential. Well, if we look at apples to apples, then FOS in itself with $120 billion worth of assets under management is just in a different, it's at a different level.
It's a different playing field. So it's nice to be able to onboard, you know, a couple of, you know,
tens of millions of dollars worth of RWA potential at a time, but you're talking about really low
cap companies. I mean, even companies that are
in the low billions, that's pretty low cap. Those are not medium to high cap companies.
With Fosum, this really positions us that we're able to provide services and we're able to partner
with large cap companies. $120 billion is not even that much, but it's enough that in order for, and it's signals
and it's a very symbolic, that in order for other large cap companies to just pay attention,
this sets us apart from other tokenization platforms.
Above $50 to $75 billion, you're now at a different game. The kinds of things that they're
looking for, the rigor that they're looking for, even just if you look at the legal compliance
side of things, or if you look at the rigor from a security point of view, you're in a completely
different game at that level. And so we're able to showcase that, look, we're able to play at that level.
And so this sets the stage for other large cap traditional finance companies that it opens the
door for them of, look, we're open for business. And this is the kind of service and the kind of
partnership that we can make. And so if you extrapolate that, and we're no longer talking
about being able to manage, you know, a few hundred million dollars worth of assets or even a few billion dollars worth of assets.
If we replicate this as a blueprint with other large institutions, and you can imagine that there are others coming out, we're no longer talking about just like I mentioned a few hundred million dollars, a few billion dollars you're not talking about trillions of dollars worth of assets that can be under um uh management that eventually can be tokenized on chain this is
just different ballpark this is massive okay mel so you have your answer how soon it is
and the next question is from lance but i I want to mention the context first.
So while preparing for this space, I have some discussions,
and I think a post from MXC, if I'm not wrong,
which supposedly said that Volta tokens have a weaker governance
than the US tokens.
So if you want to address that, let's say, concerns, if you can say.
Sure.
I guess I'm not even sure what this person means because Vault has literally rebranded EOS.
So there was no, other than the name change and the token ticker change, governance has not changed.
change and so I'm not sure what they mean by that what I will say though which is kind of a I guess
And so I'm not sure what they mean by that.
alpha here that I'm dropping we are working on completely revamping governance in Volta but
there's no difference of governance between Volta and EOS so that I guess I don't agree with that
premise but this is the next stage and so we've now rebranded,
we have a new token ticker, new name,
we've got the Web3 focused direction,
we've got XSAT, et cetera, et cetera, et cetera.
We did the hard fork last fall
that focused on changing the underlying consensus algorithm.
And we are preparing ourselves for a new hard fork
that is slated for next spring.
And with that, the idea is to leverage those new consensus algorithm changes.
So right now, validators on the network essentially perform all roles that are embedded within the protocol level without going into too much technical detail.
But those roles are actually more than one.
Right now, the validators are doing all of them.
With the next hard fork, what we're looking at doing is leveraging all of these roles
separately to be able to change the underlying, basically, mechanism by which governance is
enacted on the Volta network at a very, very high level.
So we're talking about complete revamp, a complete redesign from the ground up,
which will eventually impact even the resource mechanisms
and impact the kinds of nodes that we can have.
Like clients, it'll impact APIs,
it'll impact the reward mechanisms for the validators.
It'll split out essentially the different roles,
as I mentioned, but splitting them out as well,
lessons learned in terms of
who's more of a worker, who is more of a stakeholder, leveraging them in terms of as well,
in terms of the cost to be able to run that infrastructure and those that are very specific
in terms of what they can provide. So these are massive changes that are coming that we're working
on that we plan on implementing in the next hard fork, as I mentioned, that we're slated right now for next spring, and that's Alpha.
Nobody's ever heard me say this before.
That's perfect. Thank you. Thank you for mentioning this here in Satoshi Club.
We are delighted to hear that, and thank you for sharing this information with us.
And just to mention for the last question,
so it's a fake news.
The Volta token and governments,
it's exactly the same
and would be even better in the near future,
as you mentioned in that alpha.
Yeah.
So we can start wrapping it up,
but let's first look ahead.
So what's the big vision for Volta in 2025 and in the next year?
And besides the Alpha you mentioned, any sneak peeks or new partnerships or features?
I mean, yeah, so we obviously have more partnerships that are going to be announced.
There's a few things that are already dropped, essentially, that if you follow Breadcrumbs, you'll know.
One of them, for example, World Liberty Finance, clearly on-chain. There's been movements, but there's been no, I guess, press release, or there's been no formal announcement of that.
been no formal announcement of that. So, you know, that, you know, expect something there.
So, you know, expect something there.
Outside of this, on the XSAT front, as I mentioned earlier, closing that gap with the hash rate,
we really want to get up to that 85, 90% of all hash rate that's then synchronizing the UTXO data.
We've got more products that are coming out. So we announced the Exat Pay. Right now it's more so kind of an alpha, closed alpha slash early beta product. It is functional, though. I do have an Exat Pay Visa card on my phone, a digital card. And I have, while I was in Vegas, I bought breakfast and I bought coffee with it. So it is functional. But we're trying to bring that down to masses.
But we're trying to bring that down to masses. We want to also leverage the four pillars that I mentioned that are part of Volta. And so expanding on that product stack, being able to collateralize more assets. But the one big one that I think will impact retail is to be able to leverage staking yield on chain while also leveraging the mirrored assets on a centralized exchange in a way that then is able to provide
additional yield in terms of, for example, delta neutral trading strategies. Eventually,
you want to expand that product stack to have more than just delta neutral trading strategies,
which is kind of the most conservative type of yield that you can get, expanding it so that
based on your risk profile, you could create your own basket of whatever 20% is very conservative,
maybe 50% is aggressive, et cetera. So you'd be able to make your own basket with different trading
strategies. So bringing that to market, that's on the roadmap for this year. The news that I
mentioned, or I guess the alpha that I dropped and sort of the, you know, upcoming hard fork,
and what that will entail. So we'll be releasing that in the next two to three months or
so, giving that really high level roadmap. Here's what we're working on. Here's what that will entail.
Here's how this will impact, I guess, governance. And here's how you'll be able to get involved
from the different validator sets or token holder sets, et cetera, et cetera. So expanding more upon that. And then starting to leverage the partnerships that were announced with actual tokenization
of assets, with first or stable coins on chain, further yield collateralization.
We've got, I didn't even mention, but there's a Bitcoin, sorry, a blockchain insurance product
as well.
That was our fourth pillar that is being released imminently and then in the next
few weeks. So that if you're a developer in this space, you've known that it's extremely difficult
to get access to traditional financial services. Typically, you can't do so because you don't have
traditional insurance. So we're talking about directors and officers of insurance, cybersecurity
insurance, because the space is too new. And so those insurance companies just either charge extremely high premiums
or they just refuse to insure.
So we've got a product coming out for that.
So there's a lot on the roadmap that's coming out.
We don't stop working
and summer for us is going to be extremely busy.
Ooh, it's a lot to digest.
You work a lot.
And yeah, it's very... We love what we do and there's very little time
to be able to capitalize on on this opportunity right blockchain is still really early but
similarly to uh kind of when the internet broke and kind of the youtube facebook moment of just
mass adoption at some point it's going to happen in our space. And once that happens, then all of the
work that you've done, the foundations that you've laid are going to be put into high gear and
adapting to it afterwards is going to be very difficult. So we, you know, we want to be ready
for when that comes. What a space. Huge thanks to Yves for dropping all this alpha on Volta, XSAT, the future of
Web3 banking and so on. Let's give him a round of applause in the comments at least. So follow
Volta and BigBirdSamurai, his username, for the latest updates, keep an eye on their updates
and new partnerships
which will come in the future.
If you love this space,
share it with your crypto crew
and let's keep the convo going on X.
So, Yves, any final words
or advice for our community?
I mean, if you want to hear more,
come and visit volta.com
for more information.
In terms of socials, we've got myself at BigBeardSamurai.
We've got on X this account right now.
So Volta underscore, we've got XSAT network as well.
So yeah, come and join us.
Come and ask them some questions.
Come and get involved.
If you see us in person at conferences, feel free to come and chat.
We've got a lot going on.
And yeah, we're willing to explore more opportunities with other partners.
So feel free to reach out.
Sounds great.
And we're looking forward to host you in the future as well.
You mentioned you'll have more marketing campaigns
and we are willing to help spread your words for the future so don't forget us in the meantime thank you very much
for having us on this is great we need to do this again way earlier than the the current uh time
space that we've done between these these two different uh uh spaces so yeah let's connect
even earlier and we'll give you more alpha. For sure.
Looking forward to it.
So in the meantime, stay bullish, stay curious, stay safe and trade smart.
So catch you in the next space.
Bye everyone.
All right. Take care. Bye bye.
