You know, hear me all right. Good morning, evening and all of the above. Hey everyone, yeah, can you hear me too? I can hear you. Yeah, I'm starting a little late just given some time for people to funnel in.
and it does the re-trees.
Instead of firebot NFT collection, they kind of look like firebots. We have an NFT collection, yeah. So that could be that. Yeah, yeah, to get one. You cannot like these guys. Yeah, they're hard to get now because
There is absolutely no value. I'm always too late. It's fine, we're going to launch them again in the future. Actually, it's a fun story. We started with the NFT that the way to mine our token. Yeah, that worked well.
But we move to yeah, yeah, I think the people who entered like the the few you can see that already in the space we probably made some some good fbx and they are happy to be here for sure Yeah, I was like the vault so far really
Yeah, I mean a lot of people from the community was happy to move there. I mean, it's a really interesting issue, it's a community strategy, so it's really popular I think. And it really well will get into that, but I really like it.
Yeah, it's nice. It's just a bit hard to get it listed on the
page on CoinMarketCap but we've been talking with the team so hopefully they will list it at one point. They only have so many types of assets they like to support. Have you found out the CoinGecko request? They're usually pretty good at it.
Actually, I've noticed that they always list after CoinMarketCap. So if it's not listed on CoinMarketCap, they don't do anything. I mean tokenwise, for the liquidity person, I don't really know.
Maybe they're listed by default, I don't know, let's check. You know, they don't even display uniswap, so I don't know how it works.
Have we posted this entire telegram or discord? You know? You know? Yes, there are. The app has been posted. Yeah. May it light a tent next to that.
Yeah. Well, the good part is just it is recorded so we can always share it along. Yeah.
I mean from my side we can start there is no
important. As you said, it's recorded. Yeah. Yeah, if you guys are down the start, we can go an hour, wait, maybe tell two more minutes to the 10 mark. Now we just got one more.
Maybe there will be more. I'd say let's just get rolling. Cool. Sounds good. Thanks for joining us. Thanks for, you know, Firebot, Brian, Ivan for joining this space as we talk about each day's partnership between Neil, like you and Firebot. The power of stake, ETH and
concentrated liquidity. I'd definitely start off with some introductions from both projects. Explain what your protocol does, what products it offers and the overall goal of the project is. Let's start with Pierre from Virebod. Tell me more about it.
All right, so everyone, so I'm Pierre, the founder of FireBot. I will not go too much into details in the presentation, but what we do is we are specializing in quantitative analysis of the market and we build automated investment strategies for
our users. We started with a software solution that was connecting to Binance to automate trades. And one year and a half ago, we launched our token FBX to use the same tech kind of on chain and then connect to other defa protocol and build around it on pretty good men.
Awesome awesome good stuff and on the each side yield IQ. Yeah, sir Brian. It's created some bolts to manage unit swap B3 liquidity. I'd say about a year and a half ago.
We tried quite a few different strategies and we built a back tester. The result of that, all that learning became yield IQ. And yield IQ is just this way to generate income,
income on any token or asset in the world and that new income is coming from trading fees themselves. A lot of other systems were
designed for these unique financial participants called market makers. They said you could be an individual market maker. You could behave like one. You're like used designed
around not changing your behavior at all. It's really built for token holders enabling those token holders to just get more income on their asset. Pretty something.
I'm going to ask a question. Here, could you share more about the collaboration with ELIQ, how this partnership benefits the fire by community and also you know, you took a different approach instead of having a fire
but the rep being the positive token, you wanted the rap state E. Yeah, so we always have the objective of improving the liquidity for our token. So maybe Brian will talk about this more into details how he liked you
works, but the traditional liquidity pools are not really efficient for this kind of stuff, so it was really interesting to see what we could do with the ELQ. And also another objective we have is to offer good investment strategies for our users. So with this,
we can offer good returns on ETH and at the same time increase the liquidity that we have on Uniswap. So that's really great for the project because it allows traders to buy and sell our token with less sleep page and at the same time the people who want to
learn some yield on ETH they can do it through this gold. So that was a good stuff to do. We put first asset being wrapped ETH because there is already a little yield from LIDO. So LIDO, I don't know if I should explain how it works, but
Basically you deposit if with them, you stake if with them and they use it to run validators of Ethereum. Then they earn if that's emitted by the protocol and also gas fees and they distribute back the earnings. So that's why they stake if
token they have or the wrapped stictive that they have on polygon is a way to passively earn a bit more than just holding beef. So when we create a vote like this, you already have this little edge compared to a liquid.
We didn't want to put fbx as a main asset for this strategy because we already have an fbx vault on our app. So it wouldn't make sense to offer two different fbx generating strategy.
for our users. So we keep the one we already have in the VX that works with the emission of our protocol and some burning involved and for the liquidity pool it's an if bulk.
You're muted. You were talking about that, but you're muted. Peter. Oh, I was muted. No, no, no. No, no. Oh, Peter.
I do like the strategy. These governance tokens, platforms are having some difficulties right now. The platform tokens, governance tokens, their highest purpose is being used in governance or being staked for
the protocol emissions and so setting up a lot of pools where people toss them into liquidity is just counterproductive. I think it is really smart wise call to set it up the way that you guys did. Yeah, so you still need to
a few of the XT in the pool for sure so people can buy it. But it's nice it's nice to have a liquidity pool that also makes money because if you open a liquidity pool with USD or DA or something you know you're either
is an opportunity because there because the USD is not doing anything, I mean it's generating fees from trading but it's usually quite kind of low and because of imparement loss and arbitrage bots that are around at the end of the day you don't really earn anything so.
people swapping the tokens and can make tokens available for purchase and the people supporting the platform long-term can stake in governance and participate, just make sense. Yeah, exactly.
Peter, you still have any issues? Partly yes. There are the solutions for governance because in the past we
We've made some so governance votes and we were accounting for FBX that was in liquidity pool so it's doable. But it's a bit more complex for sure. I have a message here on this side.
All right, it looks like Peter cannot make
Maybe I'll take this chance to step in and ask both of you questions. By the way, for those of you who joined, I'm Ivan, I'm a heading product for EOd IQ. I'm really excited about this launch with FireBot.
As you this, so I know you were set up as a rap stick ETH against the FBX vault for the yield IQ strategy. What's the reason behind you choosing to boost draft evolved with Rackstake ETH? I think we were just talking about that maybe.
Yeah. Yeah, so, so of course, the DA was a treasury and you wanted to be as profitable as possible. So because of the nature of our project, our main objective would be to allocate as much treasury as possible on our, as
go into the mix solution because this is what we believe would work best long term. But of course for liquidity pools you have to choose an asset at one point. So there are several choices you can make. You can use ETH, USD already said wait was not
especially good in our case or you can put magic on because we are in polygon But yeah, magic is really is revolatile Maybe not a strong long term. I mean this is speculation right so you can't really know but if is more More solid, you know more
It's more there, maybe closer to the returns that our session could provide. So it's this way we went on if and then it's just an upgrade to use wrapped sticktif instead and then here you go when you have the vault. I actually saw
that liquid state the just passed. There's more eat and liquid state the now then on centralized exchanges so it wouldn't surprise me if all of the five begins switching to it soon. You're just ahead of the curve.
Yeah, because you're making earnings two ways one from the liquid steak and then also participating in the bulk. Sorry about that. I had a technical difficulty but I'll come back now. Now I've seen several protocols
starting to launch Stake Tif pools for sure because it's a bit better than just if in the sense that you have the opportunity cost if you just use if then there's another issue is that you have to trust Lido to work well for a long period of time so now it looks like it's
fine. And I mean, since one was it in March, the Shanghai upgrade that you can with zero funds, it looks like it's perfectly fine to let funds at Lido. There are other providers that do the same kind of theories, but they didn't work that much yet on the token. So it's true that with the
take it from Lido, you can really do a lot of things in the face. So that's why starting to grow for sure. Yeah, that's a very awesome thing to do. It provides a more opportunity. Pierre, can you tell me how does far about it, and why is it community members to participate?
participate in the vault right now. Yeah, so the vault, the vault in itself, so it earns the if from the sticking at little, then there is your tech, you like to use tech, but gather the training fees from Uniswap.
And of course our token is supposed to work also in that sense of incentivizing the having it. And on top of that, to attract more liquidity since the start, we are incentivizing the bold.
So we regularly send a few of the eggs there that are automatically invested in the in the vault And it increases the stack of every every deposit or there all the time I'm so right now is a incentivization program for participating in this vault so
So, you know, everyone that has wrapped big E, you might as well put the speed in this and put the speed in the awesome yield IQ strategy that we have there too. Let's dive into the yield IQ strategy to understand how the bulk functions. Brian or Ivan, what is it and how does yield IQ help toward
achieving a more profitable liquidity provision for LP. Yeah, so most of the systems out there that manage liquidity, you know, they just don't know anything. They have no data points that can help protect LP.
Some systems have attempted to introduce oracles or volatility measures or even insurance programs, but all of those things prove ineffective. With yield IQ, there's the new bit of information that
helps it work so well is it knows the starting asset mix of every deposit. Now we kind of made that simple to understand by forcing it to a single token but we don't just ignore that if
as the tokens trade. If people swap for too many of your RAP stake date in this case, it's going to start making that RAP stake meet side thinner and thinner and placing those tokens further and further from the current price.
so that it doesn't over sell the asset you deposited. So that directly mitigates the major cause of loss in liquidity provision and this divergent loss that occurs when you end up with something that's quite different than what you started with.
Yeah, maybe that's a bit technical for listener. I don't know who you usually have, but maybe could you explain what is concentrated liquidity on the initial V3 for example? Oh, yeah, absolutely. So when AMM
first came out you would put your tokens in there and it would spread them across all price points on this price curve from zero to infinity and that meant that you know less than one percent of tokens ever got used in trade-ins.
with concentrated liquidity, you could set the price points. And it's called concentrated because they expected that people would concentrate it near the current price. Now the downside of that is that with any price
movement. You always get left holding the least valuable of the two tokens. So if you concentrate them really close to the price, it's only a matter of time before your position gets entirely
converted and you've suffered a huge loss. And that's exactly what Yodai Qt is built to counter. It wants to concentrate, but it wants to do it only when profitable, not all the time.
And just to add to you know and some of you may have tried concentrally liquidity and some of you may not the challenge you know like Brian explain is Because you need a set price range and the trading of the market conditions continue to move it makes the whole price range
costs has really come for someone who wants to manage as a passive investor. It becomes an active gig that you actually need to continuously monitor the price and be very smart in terms of how you position it in order to ache out a profit.
called improving so across many analysis and research down the classes industry. What you'll like you is able to do is to smartly help you using algorithm to manage your positions instead of the right price points and compositions so that you'll
or a concentrationary liquidity, you're earning the most out of that efficiency at the same time, protect the assets that you want to accumulate. So the combination of these powers and the strategy really favourable for sophisticated users, especially in this case for the buy-a-bought.
Yeah, so the goal is to maximize the trading fees. But let's talk about something that is always in the pools or always being active in the pools. And that's arbitrageurs. How do you regard against toxic arbitrageurs in the pools?
And you don't really know if it is a specific arbitrage. This is somebody who is moving value between markets, whether that's toxic to you or not. If you don't know how much of your preferred asset you've already sold,
Now in our case we do know that and if you haven't oversold the asset that arbitrage trade is going to occur with much less slippage than if you have and they're trying to get more of it. So you can really think about
Every arbitrage action is either bringing value back to the depositor or taking more away. And whether or not the loss of the asset is a problem has everything to do with how many you've already sold. And so again, the system's just keeping track of that.
helping distinguish between arbitrage that pays you quite handsomely and in toxic arbitrage. Just to add to that, I think, you know, Brian's been
And keeping it high level, specifically under who the algorithm uses more than 25 market indicators to really help monitor and manage the liquidity for anyone who deposits through it to combat this type of
costly arbitrage that occur to LP holders. And you know, this is something that you don't see on the market. The most majority of the time, people use very simple mechanisms to manage it. And you'll like you on the other hand, is really going down to many aspects of liquidity provisioning and market conditions to make it effective.
That's awesome. So there's a lot of guarding against the Agnes and really with the benefit of maximizing the tree. I also saw that FireBot has a risk management, AI-powered risk management. Pierre, how does FireBot's AI-powered risk management protect users from market volatility?
Yeah, that's all about our projects. So we think that investing in crypto is super great. There is a huge upside potential, but it's also really risky. So you never know where you go. So when people is looking for more leverage on our approach, we are actually looking to to earn risk the
the investment. So it's been, it's been two years I'm working on solutions like this. I started to work, to work on automated trading back in 2018. I was doing some market making on low liquidity pairs, some arbitrage and then auto rebalancing portfolio.
various kind of stuff and it grew to what's fair but today. So the current strategy, the ID behind it is to feed it market data and to find a global strategy that it can apply on the portfolio. So we want to have an exposure to crypto but we want lower
and also low drawdown. We don't use any leverage and no short in the semi-d to reduce the risk as much as possible. So more specifically, we focus on the crypto from the top 25 in market cap and we assign
them a weight, but in theory, we present their probability to outperformed the market on a given period. And then the other feature is that when there is nothing interesting from the data we gather in the current state of the market, the portfolio simply goes back to USD.
waits for a new opportunity. So this does two things. The first one would be that it allocates more of the portfolio to the more interesting crypto when it goes up and everything is doing awesome. And because it can serve different ways, you know, go from one crypto to the
are depending on hype or strength of the movements. And then it protects the portfolio when the market is going down because usually there is no trend or nothing that can be statistically profitable. So it just stays in USD. And then when you look at the big picture over time,
You can see that you can avoid many of the crypto crash that we know because usually there's nothing special happening before a crash. So the portfolio stays mostly in a new SD. And then when things go nicely, well, the portfolio can also follow the trend.
So I think it's a good strategy when you don't know where the market is going because of course it's really hard to predict that and if you know where the market is going you can just go leverage and then make human it this way but I think most people don't know what's happening so this is a good solution to
adapt and just let the algorithm take the best statistical decision. It's great to follow because it works well on average and that's what's behind the all the ecosystem. Yeah. That's a very interesting concept and I
I can see that for users that can constantly track the market all the time. We have many users that are beginning to crypto, because we go to refer and buy someone and
And we just don't have time to focus on everything. And that's a nice place to start because you will not get tracked that easily. And on the other hand, we also have some veteran crypto users who tried training too much. And they burnt their report, so just a bit come back to a more safe solution like this.
They have convenience key and I can see that providing to any user out there. For the FPX token, how does it contribute to a firebots investment strategies and ecosystem? Yeah, so there's a doubt now that we launched one year and a half ago.
with the token. So the token helps to, it's a governance token, so we vote on what we should do with the treasury, how the emission system works, for example, this is the kind of thing we changed over time. And the Dow's mission is to provide, of course, liquidity
for the token and also generate revenue from our software. So most of the treasury is invested in is on Binance and following the strategy and the idea is to have to give FBX older profit from what the
the grid and it's careful to do. Oh, that's cool. So that's like, you gotta have a bell that control where the row map is and where everything's going. So that's pretty awesome to see. Yeah. Yeah. We have some mechanism is in place for the doubt to bite
tokens when the algorithm is performing well. You can see that there are like an altruistic whale on the market and its objective is to buy as many FBX as possible. So of course it's letting funds on the, it's treasury grow on Binance and then use the
from time to time to buy tokens. And that's profiting everyone. That's benefiting everyone. Interesting. Very, very cool. For future plans and developments between Farber and the old partnership, you know, maximizing the yield, but where did it
providers. Peer, maybe you can speak on this. What are you looking forward with the partnership with the ELDIQ and then possibly also expanding on other chains? Yeah, so of course we're going to keep this involved because I think it's a really interesting strategy for
our users. We could use all the votes that you have for the strategies. Now that we are on chain, we try to build more decentralized strategies and go a bit, you know, try to stay more apart from centralized exchanges like Binance. So we are developing new stuff and of course if
If it fits, we could use other vaults in our strategies. And yeah, going on other chains, it depends, it's the same. There is an opportunity to build a good strategy there, why not going? For the moment, it doesn't really make sense because most of
of the strategies need our token somehow because it's usually included in the strategy we offer. So it would mean creating new pools on every chain stuff that would be recostling in liquidity. Maybe if we get bigger or why not?
And yeah, and maybe your software creation of the of you need to have because they announced their V4 now. So I guess you're going to adapt as well and go to the you need V4 in the future, right? So we could do something like this. Yeah, they definitely when you take one
look at UniV4 you realize that something like YodaiQ is even more needed in the future than today. You know that the AMM itself is doing even less and expecting people to build around it.
Yeah, yeah, it's giving a lot of tools to develop through smart contracts and everything and trigger events kind of stuff. So it's really nice. Looking forward to it and seeing what a unit before can bring to the market. Now we can integrate. Finally for the last thing.
up here, where can people access the RAP stake-eat and FBX vault? So it's on each dashboard, of course, and also we edit on our front end as well. So you can go on, if I were the GG and on the
you see the vaults? Nice, it's listed also under the fire vaults that you guys have along with the other ones, right? Yeah, yeah, exactly. And then ours is on app.bg.org. Switch to the calligamon tab and you'll see the current IRR
are a bit as well as depositing it from there. Any last remarks from the Yolkhev Brian or Ivan? Well, yeah, I would actually just be curious of the maybe I was playing around with this is the
The IRR on our page, the same as the APR on the other page. Yeah, I think it's a different way of computing it because the IRR that you would displace from the beginning. That's right. OK.
And ours is like a moving average of the last few days because this is our all the vaults work so we did the same computation there. Yeah, okay, gotcha. Yeah, this is this is great. I really would be interested in following up and talking about
how we could deploy more vaults in your strategy itself. I think it was awesome to hear more about what you guys are doing in the mission that you have. It's a really interesting system. Yeah, thanks. I think there's a lot of
fit in terms of our ethos against risk management, how do we use algorithms to improve that process and really have the flywheel go by itself and we can all have a better result in the changing mark conditions. So definitely see
more collaborating opportunities.