Hey guys welcome everyone for the Key Different Show. I'm pretty excited to get
this going today. We have quite a few speakers already on so welcome everyone
Today's topic is a pretty interesting one. We all know about the whole buzz that
always goes around the Solanas ecosystem and especially the world of NFTs and my
question or the obsession here today is to figure out why Solanas NFTs you have
NFTs and all other ecosystems as well but Solanas ecosystem has been garnering more
and more interest towards this so let's have a deep dive discuss with some of
the amazing speakers we have with us and figure out what makes us special we all
hear about the community and the resilience of Solana ecosystem is that
the only factor or is there something more to the story so just a quick note for
all our amazing speakers out here feel free to unmute feel free to jump in you
don't have to wait to be called on just unmute yourself and get started when
you have something to say so yes the space is yours
Fred yeah Fred here we have Andrew you so I'll kick it off first of all Fred thanks
for the invite and also to you Karnika I think that it's not just NFTs right if
you look at the overall transaction volume on Solana it massively increased so it's
NFTs it's DeFi it's it's literally every part of tech on this blockchain that is
seeing massive user acquisition and if that's the case then then you can only
conclude it's one thing it's the tech right people enjoy it and it makes sense
because it's fast it's cheap if you compare it to a lot of other chains
then either either the chains are still very much in development and at a very
early stage where they can't compete have a less active community or are just
less efficient when it comes to gas usage and you know time optimization so yeah I
think Solana is just a winner when it comes to tech I think every chain has
its purpose you know it has its purpose but when it comes to mass transactions
then Solana is the winner. That makes sense okay so your perspective is the
tech is what makes it superior purely from the sense of lower fees and the
speed I'm definitely curious to hear what other speakers have to say as well
yeah go ahead. I mean aside sorry like first off thank you guys for the invite
up here I just like to say us at Myth like we like to kind of earmark specific chains
for specific launches that we're doing and we have actually earmarked Solana for
a very particular let's say PFP launch that is going to be happening and the
reason is the way the communities rally around interesting art interesting
projects like there's there's a very strong community presence on Solana and it
can be a lot easier to get traction with specific launches like it does cater to
a more specific demographic than for example let's say Polygon or any other
so there's there's a significant outlet there and people are always looking on
Solana for what could potentially be the next big thing community driven
narratives are also you know very present there so you know we we are big
fans of Solana not just for the tech but also for let's say the projects that fit
the Solana narratives so yeah that's kind of like our our brief take on Solana
well I mean while I have you here can you deep dive a little more on what
those narratives are and why did Solana garner those narratives why did that
specific community rally around Solana is it their marketing is it how they marketed
to a specific audience and grew that interest or is there something else beyond
that because when I look at the tech when I look at the speed and the gas
fees many ecosystems have that it's it's not nothing not special with Solana in
fact there's an extra barrier to entry with different wallets and different Texas
etc but can you deep dive on this part on this audience and the community
aspect I'm sure I guess I mean I personally I haven't studied like let's
say the reasons why Solana is successful in in the NFT space like specifically we
observe what narratives tend to to work the kind of art styles that tend to
work you know it's like there's there's like an evolution on all the different
chains like ordinals has had its kind of growth and they seem to almost be taking
a step back now that you're just getting huge volume on you know very the
same minimal effort and projects whereas Solana is seems to be attracting higher
quality NFT projects which are no longer just I you know PFPs or if they are PFPs
they're connected to something bigger the people in Solana seem to be wanting
something more and that helps drive the future development of you know what a PFP
project can become okay that makes sense but isn't the one based on the other
it's layup right hey guys thanks for having me yeah I love the topic I think
Solana was my first NFT ecosystem where I started feeling the urge and
you know the the faith that I could build something in this ecosystem and
that was right in 2022 after the I mean if you guys remember this moment it
was kind of a watershed moment for Solana NFTs when OpenSea had just
integrated Solana NFTs we had one project that was top in the charts in
a crazy way in a major way which was OK Bears and it was then that I realized
after connecting with with a lot of people from OK Bears after meeting people
like Chivas here who I've met who is the founder of a Solana NFT project and I
noticed that was something different about the the culture the tribe in
Solana NFTs compared to ETH NFTs it felt very much like Solana NFTs was a whole
community one community and there was a lot of interconnectedness whereas between
Ethereum NFT projects at the time it felt very very fragmented and that
feeling was something that drew me as a builder onto there actually ended up
really building an NFT project and the community but we never meant it it
evolved into a different project so I didn't have the pleasure of actually
having the experience of running an NFT project there maybe Chivas can you know
elaborate a bit more on that front but I would describe it as a unified
community much more so than than the Ethereum NFT landscape
makes sense Chivas yes you have something to say I would definitely agree
before I go on that on that part I think you have to look at it as a layered
structure so and this layered structure starts with tech right there is no denial
there that's like the base of all these layers is tech on top of that you create
culture right and tech equals belief in the same sense of how a country is
built up so on top of that tech you create culture right and culture need
cultishness and it needs leadership so there you have very outspoken founders
if you look at the two co-founders or the two founders of Solana versus the
way that the EAT Foundation communicates you could could quite fairly say that
they're very outspoken right in their personality and then they they surround
people regarding a message right and the message has to be that of the
underdog compared to the bigger beast because the bigger beast is already there
right it is already an established chain as it is so when they take that
message of the underdog and they start running with that specific message you
create a certain mindset right a certain narrative and that narrative then
becomes yes you might have more money or yes you might be here or you have
more transactions but we have that attack right and that's what the
community rallies around as a bigger principle and then you also get a
specific people that are attracted to the position of an underdog that rallies
around big attack right so that's where the community layers itself because these
specific people are attracted to a specific message right so that's that's
kind of why whenever you know we we whenever I try to break it down
essentially it's the same way you break down a culture with with different
streams or different groups within their different political stances but
before all of that was the case right there was religion and religion was the
base okay I have an interesting question here Fred okay before I bring you and
quick question is that we understand the culture and the community that
surrounds the Solana ecosystem and the NFTs and we have heard arguments that
the technology and the way they work with each other and the voice is all
great so if right now the country where you live in they decide to convert your
driving licenses into NFTs or your passports into NFTs would you prefer
that in the Solana ecosystem or would you prefer that in each ecosystem or
something else what would you do so there's the there's a reason why I
believe you have the the current onboarding and the the super cycle I
think right now we're living through a Solana super cycle and it was never as
evident as it is now and I think for the ease of onboarding new people if
you're talking about driver's license etc you will have to onboard a lot of
people that are entirely new to crypto and there's just a couple steps on
Solana that are so much easier and faster than on any other chain at the
moment so I think you know the the ones that need their driver's license on a
blockchain right if it's for like a use case where you don't need to have it
apparent that it's on a blockchain still right now Solana outwinds from all the
other options but again like in a year or two things might look different when
you have parallelized blockchains like we say really mature you know they're
currently years behind Solana and yeah this is gonna be curious why for example
if we're talking having an ecosystem that can host NFTs massively adoptable when
it comes to access I mean scale network in that case has all of that and well
technically more with the whole no gas no anything's like it's a ritual one
step it's far far easier but there's the other argument like why for example has
can't remember which country it is in Europe and that is actually put their
heritage sites on on chain with Solana and it was interesting that they chose
Solana like I don't know if you know anyone here like knows about this but
it's it's an interesting choice but it might also you know there may be a very
strong reason for it I'm not 100% aware you mentioned a scale network all right
thank you with it with a yeah yeah scale with a
chaos if you correct I don't like there's there's there's arguments and
arguments I what we're trying to build ourselves is pretty chain-agnostic so
you know where a project fits it goes if there's a demographic that's more
specific for it then we will use it Solana kind of fits into too many
different narratives it's like they've got quite a DJ in culture in both defy
and NFTs and they're very very passionate like they are one of the most
passionate communities like the polygon community is very strong but it's
really widespread there's a lot of noise Solana you know they it's even
though it's busy it doesn't seem as messy for example as polygon does so it's if
you're going to be using a chain for for putting you know passports on passports
and driver's license whatever I mean I'm pretty sure relatively quickly with a
little bit of funding you know we could see some pretty basic advances in in
wallet solutions on Solana that could allow for that or app solutions that could
allow for that you know fee delegation etc so that your end user doesn't have
to even interact with a blockchain it literally just is there it exists so
yeah I mean I don't see why you why you wouldn't or why it wouldn't be
possible I mean I just looked it up right skill network is 300 million fully
dilute a 400 mil fully diluted market cap Solana is 43 billion right like if if I
want to deposit a million bucks into a bank that I and I care about that money
I'm not gonna go to a random ass small bank that's around the corner and
deposit something that I truly value into that I'm gonna want something that has
at least a very strong track record with substantial size right and yeah the
market cap just you know it doesn't allow the same same form of legitimacy for now
this might change in the future with these upcoming networks but that's
essentially where I said that if you if you fully look at a TVL and you look at
cost there is no other network that can compete at this point based on those two
things right and everything has its own purpose so other networks have a purpose
but they can't compete because either their market cap is way way too little
they're way too much in an infancy stage or the gas cost is too high with
the transaction volume mean too low okay sorry go ahead no I was gonna say it's
like fine but like with like for example there are I know I know personally
because we've had many many discussions with the the actual scale team around
the project that we were planning on directing for them the you don't have
yes you don't have a massive market cap but it's also because the token side of
things isn't isn't so much the the point of the scale network it's not like how
Solana is structured it is completely different so it's all about the
usability and the fact that the the web tree layer than the blockchain layer
is a value add to things that are built on it not so much how much you know how
many DJN tokens here and there are locked up in different farms with and you
know in many cases after part in the expression but many Ponzi farms and that
attract high high TVL further increasing the TVL overall on Solana it's it can be
quite misleading like high market cap versus actual quality of what is there
overall doesn't always match I mean 43 billion sure but when it comes to end
users and projects using the tech as the tech does the market cap actually matter
if you're just using the tech layer as the tech this is a fantastic conversation
in itself I think the moment you launch a token it becomes the thing that that
matters most it becomes the thing that acquires your customers and users and all
the brand mindshare across the world and so you've seen this Cardano Cardano has
been doing this extremely well actually bootstrapping the token and building such
a liquid token well before any of the tech was usable in a mainstream way but
it gave them a tremendous leapfrog right in terms of mindshare being on the
top ten of coin market cap all the time being known and talked about it is
something that we see Solana do as well in terms of mindshare we have you know
there's no doubt at the moment that it's global mainstream like people know
this a lot very soon normies quote-unquote and I hate the term normies
but people are unfamiliar with blockchain are gonna know the Solana logo and
brand just as much as a theory and and that's important when you see things like
Shopify integrations right which are incredible mainstreaming opportunities you
know this is the Shopify brand is okay partnering up with the Solana brand
right and being seen in collaboration like this and this is huge for also
mainstreaming NFTs on this blockchain so I think in that sense the token does
matter a lot because it will give you this attention if you have the network
effects and the you know number go up then you will have this cult like
following of you know people that made their wealth with this token are going
to be forever loyal to you and scale needs that too I would wager to say
they also need a loyal cult like following to spread the brand yeah I
just add Andrew Lubon from poster.ai the main thing we were considering as
pulses chain agnostic for a lot of our offerings but we're launching our PFP and
our token on Solana for the reason but also for the minimal reason that artists
curators creatives they're gonna have to build businesses they're gonna have to
interact and the fees are just much cheaper and more reasonable on Solana
so I believe in multi chain thesis I think there's gonna be many chains for
many different activities but Solana the narrative plus the ease of use and
the cost effectiveness of transactions make it super appealing for consumer
interactions I think that's a that's a good point that were that was brought up
here because yes corporates private entities garments they might prefer to
have their own independent chains like that that's something that's entities
like scale offer you can run your own chain there as like side chains etc but
the purpose of Solana is is different it's it has its own market it's more
b2c consumer oriented and that leads us to an next important part what is going
to happen to Solana NFTs when the Solana phones come out how many of how many of
you guys have Solana phones and what are your views on that in the context of
NFTs the simplicity adoption etc and for the disclosure I do have a Solana phone
with me as well you have my envy as well Karika I mean Solana phone is not
gonna see adoption anytime soon nor is that the purpose of it right so I don't
think it will have a massive effect I was Solana phone also but that's because
I'm on Solana and I like Solana and I don't mind spending you know whatever
six hundred eight hundred two thousand bucks on a random phone that that has no
purpose because it has some ad-rops from some random ass tokens that are you
know what something or nothing so but but the normal person would not buy a
Solana phone they will still just buy an Apple or a Samsung and therefore in
the future yes it could have an effect when these phones evolve up to a point
that they could compete with traditional markets and grab some market capital or
market share it could have an effect but as of now it has none but okay so
does it need to have large-scale adoption to be a success because that's
something that we also sometimes misconstrue when it comes to games web
three games don't need hundreds of thousands or millions of downloads to be a
success because the economics are so so different with the phone I see it as
much more of a experiment to find ways in which we could break up this this
duopoly of Google and an Apple right and in that sense it's already by selling
out its first line that's already a success in my view it's already an
experiment that's valid no 100% I mean we we cannot qualify what a success is
right that the person that sets up the mission or sets up the targets that
qualifies what a success is and based on the amount of phones that they're
selling and their goal there yeah I would say it's a massive success but to
the question whether it will have an effect on the way that we perceive NFTs
I think the answer is no I think from the way I see the Solana phones are
almost like a retargeting pixel that we use in traditional marketing just
because you have us on a phone right now people can target you with a drops and
all those you're a hardcore consumer of that ecosystem you are more qualified
user who could buy something that's coming in that ecosystem so it's it's
even a marketing and advertising tool but beyond that what excites me with us
on a phone personally I mean to be honest I'm not into trading much and I
don't do a lot of NFTs personally so I'm not a trader but I'm a user of
blockchain and right now we do have those gadgets that we have to use probably
treasure is the one that's closest to it in terms of cold wallets which has
this nice big screen that you can work with and many others don't have that
there are few that is there up and coming with it I've seen some on the
Kickstarter as well but my assumption is that with the Solana phone if it
does the normal functions of an Android phone but on top of it if it also has the
inbuilt wallets inbuilt native function with that separation and security to
function as a cold wallet which is separated and the rest of your phone
that might be interesting and I don't know if Solana phone is going to get
anywhere closer to it but the future of where we are heading I'm sure the
future phones would definitely even at least Samsung phones and others they
already having AI component in there sooner or later they would bring about the
ability to have an offline individual cold wallet in there not a hot wallet
but an actual cold wallet sitting in a particular physical hardware module of
the phone that might make our lives so much more easier
okay what's the one thing that makes a phone a success in that's an
additional world it's sales and also image it has a lot of phones or the
future Solana phones they they may be pushing an advance in how web 3 is
perceived by everyday consumers by becoming more accessible through
physical good I do see it as a positive it's a very ballsy move to be honest
their sales I mean was it not something like they they only really ramped up
their sales due to the bonk airdrop but that as well was you know it was it
was well it was well thought out it was well thought out by all parties
iPhones are an image there is there they're almost like a status the same
goes for certain Android phones if companies like if you know like like the
saga phones and the future phones if they manage to push the the importance of
the actual image of what owning one of these phones is basically starting a
cultural movement moving more into like that that traditional market then yeah
it could it could work out very very well I mean the world needs adopted the
space needs adoption and it needs innovation the phones have to improve
they have to improve drastically they're gonna they're gonna they're gonna need
they're gonna need to improve but I think they're they're on the they're on
the right path and they're willing I kind of like you know just to jump in there I
kind of really like the angle at which you approach you're looking at it purely
from a target audience perspective what do they want why do they want it you're
asking the right questions and the answer that you gave is fantastic for me
as well it's about the story that they build around this phone that matters
more than anything else more than even the utility of it which seemingly they
seem to be good at it the way they build that community the way they
structure and brought those things so far in a well thought-out manner I think
they might be onto something there just go ahead continue no true true I mean
but there you know there was the comment made before about targeting and
retargeting now that may be true but you're still targeting it and a tiny
tiny demographic there the phones were selling for a very specific reason and
it's people looking to basically make more money from a phone than the phone
costs I mean there's there's there's just no more to it really like you've got
there you've got a handful of diehards that would be buying the phones because
you know they want to be a part of this line of ecosystem the majority when
it comes down to that they were buying it because you know there's the
potential to actually make more money than the phone cost in in the web
three space the amount of data available compared to the amount of
data available in a traditional space for targeting and retargeting and you know
this is something that we are also actually focusing on with our back-end is
adapting traditional models and how to properly target retarget based on
financial habits based on wallet activity game engagement so that you can
target a much wider audience you know they've got they've got they've still got
we've got a long way to go in this space you know like people a lot of projects a
lot of people try to reinvent the wheel when it's not necessary instead of
adapting tools that exist so from a retargeting perspective through the
phones I wouldn't actually fully agree on that but I do think it's a very
ballsy move and the space needs innovators that are capable of
actually dreaming up something that could become a gateway into a specific
ecosystem like I have a lot of respect for that because you know it does take
balls and there's a lot of risk involved I think dude let's just get back to the
fundamental value of what a token was meant to do right a token was meant to
bootstrap a project and get enough liquidity so set innovators entrepreneurs
could run a venture when otherwise they wouldn't have been able to raise
funding it allows the investors or the early token holders to be more liquid
theoretically so they if you are early you're taking more risk you get to
capture those gains and the token value as it appreciates over time so super
valuable what's so great about the Solana phone is they're taking the
token all the great innovations the value the capacity for improved
innovation and applying it now to a real world asset and a real functional
product in the phone that's phenomenal I think at Pulsar as we gear up for our
token we're trying to follow a lot of similar metrics there and a lot of
similar patterns where we have a product now we have a community the challenge for
us is making sure that the token utility aligns with what our community
wants and those early-stage investors I think it's it's something that's been
really well done on Solana it's not just meme coins but seen them kind of
tank bonk and build in real utility as a way for them to capture mean marketing
but also building in real-world utility and I think I'll speak for ourselves
that's something we're hyper focused on building but something that the space as
a whole would do well to take on board as we kind of evolve as an ecosystem
moving away from just a lot of dopamine or pump and dump Ponzi schemes I think
the fact that we now as an ecosystem are building very real-world utility
into the into these projects is massive for the space and as a team as folks
building on networks as people in this folks room are building the more
collaborative we can be the better for for all of us in the long run so very
exciting to see how this all plays out
Oh Fred you had your hands up before if you have anything to add feel free to
jump in and she was I can see your hand hands up as well probably can go in
right after Fred on that yeah and I wanted to route a question to the to the
phone users to the Solana phone users on the panel and by the way Andrew love
hearing that and and I viewed in a very very similar way I'm actually curious if
pollster is gonna do an SPL token or an ERC token but we can maybe you can
respond to that later yeah in terms of the phone what's gonna what sort of been
the moment that had a lot of people capitulate into buying it for the
Solana phone was the bunk moment right that's sort of a new yeah almost an
innovation that through network effects and through the token the phone
effectively became free or you even got paid for having it with all the bunk that
you could claim natively on the phone right I think that's a kind of an
example of a flywheel that you can only get in web 3 and which is why I think the
project that will disrupt you know a Google a an Apple it must have web 3 at
its core so I think that's what's so commendable and exciting about the the
phone effort here Chivas I'm gonna route it over to human yes so I had a chat
with the creator of the Solana phone last year and the interesting thing with the
Solana phone right or is the the bigger picture ID here if you if you look at
America there's 5% of people that are unbanked if you look at the Africa
there's 50 to 60 percent of people that are unbanked at the moment they do not
have a bank account and if you look at for instance things that Google was
experimenting with they're launching those satellites right that should allow
Wi-Fi all over the world like a Wi-Fi network regardless of where you are free
Wi-Fi for everybody now attach that yeah yeah attach that to a mobile phone
that allows you to send money back and forward receive money all these
these essentially simple things that that you need as a country to develop on any
form of an economical level that that people then have access to that they
currently do not have access to and then apply that as users to one of these
change and then you know yeah what happens there what spirals forward from
that so from from the conversation that I have with him the bigger picture ID there
is that you know this phone even though it's like the first concept whether it's
true themselves or just through the fact that by them pushing this technology you
will get faster adoption from bigger brands will lead eventually to a point
where all these people that are unbanked will be banked through
blockchain with a mobile phone
I think that's a that's a nice approach to see this using mobile as a way to
access the larger population and basically giving them the crypto
currencies as the currency and wallet or and wallet application as their bank I
believe that is definitely a quicker and effective way to reach people with and
if it's a native phone or something this native you don't even need that
complexity of connecting to various things and probably whichever ecosystem
does that first that will make things so much easier for the end user they
don't have to understand about the metamask or wallets are connecting or
bridges or trying to move from one chain to another they don't need that it's
just one phone one chain one ecosystem one currency that you move or try use
there and it just simplifies things so much for them in that particular
ecosystem kind of like that idea it's a it's it's a good direction that I think a
lot of them don't necessarily notice right now probably these are all the
plans that's in the making towards making Solana even go bigger and wider
so what is next in the Solana ecosystem what do you foresee to be
happening this year we did discuss that it's a super cycle for Solana it's
gonna go up all of that but what is the next major trend because right now
there are quite a few trends that's going on in the space real world assets
that are taking over things in the polygon and Ethereum ecosystem you have
BRC 20 or Bitcoin based ecosystems out there but do you see any micro trend
within the Solana ecosystem other than the existing games and NFTs where do you
anticipate the next big move within here yeah I mean the clear and the obvious one
is obviously the mean coins that are pumping like I said with font they're
building an actual real world utility so they've taken the mean coins from
Ethereum and monetized it and built real utility on top of that so that's
massive for the space I don't expect that trend to slow down as we're in the
Solana ecosystem the rest is the majority of projects that have been
building through kind of a brutal bear in Solana and have just kind of turned a
corner so they've been building when people thought the project was dead
they've been through hell really and a lot of difficult difficult moments and
now they're at a moment where it's perhaps an ideal time to to launch a
token that's coming real projects launching their tokens obviously we
consider pulsar to be in that vein but there's no shortage of giant
projects who are just turning a corner and about to launch their token and
really make a stamp on the Solana ecosystem as an OG or as people who
want to be here for a long time so those are two trends I think are not going
anywhere for the super cycle
man how do you see the liquidity work when these new projects because the
amount of projects that have been waiting to launch they are plentiful and if these
launches are doing really good that contribute so much exponentially like a
snowball effect to the super cycle but if the many projects that are launching
because of liquidity issues they're struggling or not having great launches
that can affect as a blockchain as a whole we have seen that in the past
with few other ecosystems the more successful launches that they have the
better the ecosystem is and that's one of the reasons why anything Solana
right now is a great buy and there's a lot of interest in the market because of
series of successes that it has had maybe that's an area purely from a
liquidity standpoint to address as we think about the next major trends in
this in the Solana ecosystem
yeah Karneke I think as the as the project it wasn't long ago perhaps
perhaps August or second half of last year if you were contemplating to launch
your token it was almost hard to envision that you would you know do an
SPL token back then you'd look at the top 100 top 200 coin market cap you
would hardly have SPL tokens right and then you have you have moments like pith
bonk etc now Jupiter which arguably the ceiling of those is perhaps even you
know much higher than than ERC equivalence right perhaps the Jupiter
ceiling due to having so much more utility than a Uniswap I'd say I you
could argue it's much higher and and that's a very interesting point we're at
right now with you know the next legs up yeah how far will these go and and
how much more or when will Solana eclipse you know the the competition on
this further it's it's a question of when not of if in my view
yeah I'll just jump in there Karneke Fred to answer your question also will launch
SPL token will be a Solana based token the reason we're considering Solana why
we like Solana one the narrative the cost-effectiveness for our consumers
mostly artists and people purchasing art and NFTs but furthermore the timing
is super important you know this you need to get your token launch done in a
time when there's big momentum not only for your project but as the ecosystem
as a whole so you can capture the network effects actually the the market
effects of something where there's a lot of attention and eyeballs I think
that's that's undoubtedly going to continue and something that you mentioned
yeah it's it's it was hard to conceive of a long time ago when you
would launch a token on Solana would it even be realistic now I think that that
question has ultimately been resolved but again speaking from Pulsar and other
people who are building in this space and considering launching a token the
important thing is the timing of the token is super important obviously it's
a wave capture liquidity but eventually that comes home to roost you need real
community you need real users you need real utility so although it's it's
a good timing and timing is important ultimately you you need a real business
and you need a way to formulate that liquidity into your business and that's
something that is not changing despite the fact that you can time the market
well relative to your token launch
I think we're gonna see a super cycle in crypto in general right with ETF
approvals and all that kind of stuff and we might not see it right now because of
the massive the messing sell-off but we're gonna see it sooner than later and
then we're gonna see a super cycle with Solana as a as a specific chain or coin
right so essentially you're gonna have a super cycle and a super cycle and yeah
wherever that may lead liquidity wise it's really hard to say right it's
any man's guess but I think it's very clear that there's going to be a lot of
liquidity I think one of the things that I really liked about this Solana's
ecosystem is that it had the resilience to get back up every single time there
were major challenges that it faced and it did not take it too long for it to be
back on its feet and it has happened not once twice but many times and liquidity I
don't think is going to be the biggest challenge for this ecosystem to figure out
and be resilient and find resourcefully find ways to grow from that's
perfect so before we jump on to the next topic if any of you guys have any
interesting thoughts to share do that but I don't wanna circle to an important
part of off of the journey do you ever see an enterprise or such
interactions between a governmental or enterprise interactions with Solana I do
know there are a few brands that do interact but I'm talking more from us on
a serious note serious brands for serious purposes interacting with the
ecosystem because you have seen quite a few interactions with other chains for
very specific reasons you have like Heather Algorand and many more right now
even chains like ICP is bringing some interest on the enterprise side of
course Solana never I don't think it specifically or dedicatedly focused on
that because they have their own niche on market but when something gets bigger
that was one of the points that was raised previously it is in the top
list and it has serious TVL and it has serious community and it's growing so
how do you foresee any interaction with these larger entities using this for
not so exciting but more real-world use cases
and then she she was afraid Andrew feel free to jump in meth you mean more in
the sense of RWA real-world assets could be anything any real-world
businesses anything at all I mean I think that's an I think we're I think
we're seeing a few different things here one is we're seeing companies that got
formed in web tree and I would say that pudgy is probably leading there but
companies are that got formed in web tree becoming or projects becoming
companies maybe I should say it like that and I think that will see that
more and more and then on the Solana side I do feel we have a good
participant with clayna source that can definitely you know perform on an IP
level there so I think that's that that's one side the other side is true
the RWA this so the real-world assets that are being tokenized right now on
the blockchain we've also seen that happening right in the in the last year
we've seen a house getting sold off through a doubt where the rent gets
split among the Dow members so that's another another form there and then
we've seen something like Solana pay which is being brought to web to
entrepreneurs current web to entrepreneurs that have the ability to
get paid through the Solana app with a similar thing like like that current
yeah the thing that you put your card against I'm lost for the word here so
I think we're seeing adoption on many levels towards real-world utility real
world assets or anything yeah that that is web to and it's wild how how that
changes within 12 months when you have November 8th of November was when we had
the lowest point of $8 and then people were openly discussing you know can it
come back how much runway does Solana have as a blockchain I think back then
it had like two three years of runway left only right and now we're here 12
months later saying hey liquidity won't ever be a problem for Solana so yeah I
second what Shiva said I think our WA is gonna be very interesting on Solana and
you have the infrastructure being built at a really rapid pace as well as the
first team that is like Solana native like the backpack team with Armani
Ferrante they're actually building an exchange right now in Dubai that's
officially being licensed and I'm very curious for that where that's gonna go
obviously Solana is gonna play a big role there yeah Jupiter is also
speaking about RWA a lot right like meow is very clear in his intentions
there and I mean that's a massive player after that a drop lands the
valuation of that company is going to be insane so yeah I think that all key
players are very much looking forward to it and we saw Solana Foundation tweet
I pinned it up there the future of tokenization and I think that's also
going to be you know towards RWA but let's see what that tweet is about
in terms of the new innovative gaps that's gonna be coming in this Solanas
ecosystem apart from more Texas or maybe some some of the some of these
interactions financial interactions what other trends do you see do you see an
interesting problem that needs to be addressed in the ecosystem right now
which can pose as an interesting opportunity what are your thoughts on
that I forgot which project it was maybe Chivas or someone else on stage has
it top of mind but there's one project that enables zero knowledge
technology on Solana I think that would be an exciting use case and when it
comes to you know adoption account of abstraction so that's coming while there
are other you know entire blockchains and and EVM compatible zk technology that
is really getting a lot of hype right now but that will be important for
having you know users interact with dApps without knowing that they're
interacting with dApps basically and that's something that I'm looking into
well that definitely sounds interesting to me zk on Solana is quite quite cool
I think this is one of the things that the blockchain industry has been offering
quite a bit someone can innovate anything in a particular chain and all
you need to do is make it work in another chain and be the first to do that
and you can tap into a greater liquidity and interest so it's almost similar to
what we have seen in the globalization where someone takes on a
business that works in a particular country to a new region they set the
shop there and they are successful because it's an existing successful model
that they're replicating and that works and that that worked in the traditional
world and it seems to work in our chains instead of countries I think we're
gonna see a similarity there with layer zero becoming a big player there right
and it's also gonna that's it might be and that is definitely gonna change the
way that we look at blockchain and work more towards omni-chain where once
again each chain has its own purpose right because that overarching network
and the ease to send assets back and forward yeah it's just gonna make such
a difference so I think that layer zero is going to change a lot also in the
way that we perceive Solana but mainly in the way that these chains interact
with each other and the way with that we perceive blockchain
although I kind of feel that irrespective of the ability for chains to move assets
from one to another I don't know if Solana's ecosystem even needs that in the
first place the ecosystem is self-contained it's like localization
it's everything is in there do you really see a reason why some asset has
to move out of Solana or come into Solana's ecosystem you definitely don't
have it's not the same as any theory and polygon or bit from optimism etc it does
not have the need inherently to move an asset between one chain to another what
is in Solana isn't Solana for people in Solana that's how I see it what do
you think I think that that you're you're definitely not wrong in that
statement that it can essentially do everything so maybe Solana is not that
much of export company right but hey they they might be an import company
right they might bring in that's that's where I see layer zero working really
well because I mean I'm I'm traditionally from eat right I only joined Solana like
a year ago a year year and a half now and before that I did everything on eat
from D fight NFTs and I still have my biggest bags on eat so I have nothing
against eat but making that transition myself I understand that certain things
I would like them on eat because that's where the mass of the liquidity is right
that's where the biggest buyers are that's where you can do with with D
fight things certain things that Solana you know liquidity wise you don't want to
do yet but Solana has its own purpose once again in you know fast
transactions low gas cost and I think that layer zero is just gonna help
people on other chains still stay within their own chains but also use
this element of Solana and I think that that's the the win for Sol there
because they don't really need to to do to outsource anything that's true so one
scenario that could happen I was alluding to this earlier that we don't know
the ceiling of capitalization of SPL tokens and of trends that are gonna
come with the super cycle of Solana there could be the advantage for others
to bridge into Solana because of liquidity and because of opportunities
right so I think that that could be an interesting one in the future where you
might look at Solana in terms of how you currently look at youth in terms of
capitalization right so I think I see that as a way I think we're still gonna
see the same thing that we saw with D gas by the way like I know everybody
and this is where I disagree with most of the Solana people right I still
think that for for these high liquidity assets for instance eat is a better chain
and I still think that even if we're Pico Tapu it's still gonna make sense for a
project to have some sort of asset on eat and I whether they use wormhole or
layer zero or whatsoever in the end I do think that yeah we have everything on
Solana but what we don't have is the liquidity right and there's gonna be more
liquidity coming our way and maybe one day it will it will change but for now
the biggest wills are still on the well actually on BTC but then afterwards eat
wait till after you go ahead I was I was making a joke wait till after Jupiter
airdrop Chivas but I know what are your views on the question about Solana not
being decentralized I know it you know that's that's a primary argument if you
need to have a real-world asset you have it on aetherium because it's
decentralized you could even be convinced to be have it on inscriptions and
Bitcoin network because it's decentralized but Solana has always had this
challenge it was seen many times to go down it was restarted rebooted do you
have any comments on that I mean at this point it's NFTs and games and probably
it's not that critical and it is acceptable it's okay because the
communities forgiving and they love what they have here together but when
it comes to serious businesses and real world assets and things like that if we
were to go in that direction and the super cycle what are your views
yes Fred I can see your hands up I don't know why I started doing hands but I
guess we have Lena here up on stage you said just wanted to make sure I give her
the chance as well but um yeah in terms of decentralization yeah what what
actually what makes that and what was the concern in the past it was with
obviously the network around Sam Bankman Fried right to is still FTX is
still dumping so on to the markets now I think we have all the necessary hallmarks
of a sufficiently decentralized network that that are approaching within Solana
the only one that I'm not sure about is the immutability of the blockchain at the
moment yeah is it is it nearly impossible to alter past transactions on
Solana at the moment now there were rumors that FTX and Sam Bankman Fried
they did that in the past frequently and that's why if you if you looked at any
block Explorer the soul scan for instance it's much more difficult to
navigate then and then an ether scan and yeah currently I think the longest
streak of Solana without an outage has reached a new record so we've had
significant time without an outage so that's good news you know it's it's
open and permissionless you have the proof-of-history mechanism you have now
you know more distributed nodes than ever after the the meltdown last year in
November so yeah the question that I have still is the immutability of the
blockchain and yeah I'm not sure if someone has an answer on that
I mean if we're looking at growth right then we're constantly speaking about
mass adoption and if we're looking at you know who we're adopting the I mean
the entire world is centralized right and normies don't care about
decentralization because they're living in a world that centralized so it's it's
the same thing with with with the fact that you want all the tech at the back
end and you want the front end to be pretty frictionless where they don't
even know they're on the blockchain or what blockchain they are on they just
know what they want to do that same logic applies to decentralization first
centralization in my opinion housing guys I don't even notice that we are at our
end of our journey today it was a great discussion a lot of interesting insights
thank you so much for interesting ideas around the go-to-market on the Solana
phone side the liquidity and how the super cycle is going to turn around quite
a lot thank you thank you so much every one of speakers out here I just want to
remind everyone that we would have a show every week at the same time you're
all welcome to join anytime the very same day same time for different
interesting topics that we discuss thank you for all the listeners here thank
you for all the speakers here see you around next week then thank you so much
guys you next week thank you guys enjoyed it