WEBVTT

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The minaretopia guest segment is sponsored by cake wallets store send receive an exchange of narrowed

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Bitcoin safely on Iosin and ray 2 cake wallet is open source, and you always control your own keys

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Right kush, what's up, man? Yo, how's it going guys? Can you hear me? Yes?

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Awesome great show by the way every topic was up my alley

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I don't know you guys gonna need to get me on the show now and then cuz

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Yeah, great topics great discussion. Love it. Yeah, it's an open platform

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We welcome to join anytime we have our special guests, but then we also have at the end of the show

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We do viewers on stage or anybody can jump up and talk so

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Always welcome to join, but yeah, we wanted to bring you on today as as the special guest

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You're you're one of the minaretopia sponsors in adoption alley

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We we greatly greatly appreciate actually no do we have you on as a a full sponsor, right?

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But I don't know. No. No. Yeah. Yeah. Yeah, you took a privacy tech sponsorship

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Greatly appreciate that and so we want to bring you on learn learn about your product

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I'm my understanding. It's more than just a

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instant exchange

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There's there's there's more to it

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so what why don't you go ahead and

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Tell tell me also bringing forest up is he

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Yeah, of course, I think he's on the sidelines as well waiting to join us

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Yeah

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We guys awesome show. Thanks for letting me up

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I think I'm gonna let kush take most of the lead

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But but be here as a bit of a hype man on the side, you know to chime in and talk about squad swap when one appropriate

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But he's definitely

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Yeah, what is my wingman, you know, I take him to the clubs and everything, you know, you got my back

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Show up to the party without your wingman, right?

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You guys are a good duo here, so go ahead give it give us the give us the quick pitch on what it is

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And I'm sure we'll get into it on a deeper level

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Yeah, sure. Um

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Um, definitely, uh, I mean, I well, let me start off with myself

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Yeah, I've been in crypto

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since the early days early

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2012, you know bought my first Bitcoin when it was under 50 bucks and

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Yeah, ever since I've been on this journey, you know, and I pretty much quit my day job and

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Did quite well for myself in this

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industry so

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Yeah, eventually got a word of trading and wanted to build stuff and and

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Being an early minor of Monero as well back in the days up

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Should have kept most of it, but that's another story

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But yeah, I mean, you know, I'm all about privacy and

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Freedom and you know, I mean Ron Paul got me down this rabbit hole journey and

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You know, yeah started going deeper into a

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More into crypto, I like that whole cyberpunk concept and

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Which you know, Bitcoin diverging away from

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Since he got hijacked, but whenever the new cyberpunk, you know, so that's good. So yeah, I'm here to

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You know fully supported embrace it bring awareness to it because yeah to me it's

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It's the closest thing. I mean, yeah cat as you guys mentioned, you know cash is gonna get replaced and

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And eventually it's you know, there's got to be digital currency and

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As far as what's most aligned

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with, you know, libertarian

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ideologies and freedom and

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Privacy it's Monero, you know, it's unbeatable. So

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Yeah, we started our exchange squad swap

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It's almost a year a lot of stuff a lot of

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Building but now we want to use that platform to you know, show support for Monero bring awareness

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And especially all these delistings which was great for me because I scooped up all those lips, but

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But yeah, you know, we want to you know, we see that as opportunity pretty much, right?

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Is Monero listed on squad swap right now?

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It is matter of fact. We just got the

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Bridge up you guys can test it. I would use small amounts for now because but by the time Monero utopia. It should be fully

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Tested vetted and you are improved. I mean you are still very minimalistic and because it's very simple function

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It's kind of a bridge. So there is two parts to it, right? Because there's the wrapping part where you're bridging

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Monero over to Binance chain and

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And then you have the next part where you can, you know, trade it

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Essentially

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Yeah, so why don't we give a little little shout out to squad swap and what it is exactly kush?

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Yeah, because I think a lot of people here probably don't know, right?

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Yeah, definitely. Yeah, I think most people are just assuming it's just like an instant a standard instant exchange

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But yeah, this is my first time hearing about it

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decentralized elements to it

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Go ahead first. I give him a brief rundown on what the platform is

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Yeah, so squad swap is a dex and it's actually a multi-chain dex

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We're currently operating on BNB chain arbitram base polygon blast and optimism

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but most of our community is really on BNB chain and

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What's happened recently is, you know, we've been we've been growing growing growing and

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Obviously for us as a dex, you know decentralization is a cornerstone to anything that we do

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On the dex you could swap very very easily between tokens and also farm

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After you provide liquidity on certain pairs and even earn rewards from pools

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So it's super cool. We've we've been super stoked because we've been

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kind of rolling out new features that bring a centralized exchange

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Experience on to a dex, right? So our slogan is actually better than sex

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you know

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because that's the that's the

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Experience we're really looking for and we want to build tools for traders because because we are traders, right?

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And yeah, when it comes to Monero right now you could use wrapped Monero on

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BNB chain because there's been a group of devs who've set up a

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Bridge between Monero and Binance smart chain

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So you deposit your Monero and then on the other side you get wrapped Monero and on squad swap

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what that means is that

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You know, it's allowing people to trade pretty easily and also earn

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Some more rewards, you know if they provide liquidity or even just by staking the squad token

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They could earn some wrapped Monero, you know much like you guys were huge huge believers of privacy

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And I think what happens, I'm sure you're pretty well aware is we kind of get stuck in these echo chambers, right?

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And so what we thought with wrapped Monero is that this is going to reach out to a whole new audience of

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of users and people who really want to access the

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the

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upside of the token I

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Think your timing is obviously fantastic Monero is always looking for

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new unstoppable on ramps and off ramps as

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We're all saying Monero is getting delisted basically from every centralized exchange

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So out of out of a pure need

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something like squad swap really

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Really could could help search server purpose in the community

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How long has it been around? How long you guys how long is this decks been around?

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Just under a year now so in December we'll be celebrating our our first birthday and

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Yeah, I mean for Monero topia will be will be hitting 11 months. So we're excited, you know

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Okay, so yeah, not too long. What are most people been using it for? Can you give us like some insight into who most of your

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Traders are what are most people trading swapping on squad swap?

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Sure, we do have an aggregator. So, you know, you I mean if you swap on our swap, you're pretty much hitting

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multiple

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exchanges decks is simultaneously to get the best price impact, right? But we are trying to

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We've been experimenting few use cases, you know and stuff, but we've

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Well, just a little background

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The whole platform began from there's actually a link at the bottom if you go to info and learn about

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Rise of squats squats. Well, it actually it's an interesting story because

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this it's a community project that was the started from

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NFT collection called Pancake Squad

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NFT collection and that was created by Pancake swap. So that was their original NFT mint

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They did they've supported

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IFOs and you know, if we use them the squad collection is

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Your profile image or earn points on Pancake Squad

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but eventually the community

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You know diverged and because they didn't feel like

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You know, they were being appreciated or

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Enough utilities will you know weren't being delivered or actually nothing was being

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Down for the community. So community said, okay, it's good. We'll just start our own decks, right? So

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And here we are down a year later

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You know, I kind of lead the project, but it's really a community project that was started

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So we do have a use cases

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You could take any NFT and wrap it into a

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New standard I forgot

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the ERC number for it, but you pretty much oh, it's a 404

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So it's a DN 404 standard which pretty much tokenizes your NFT

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So you could take any NFT you wrap it into a token and now you could exchange it on any

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Decks uniswap squat swap, whatever so you can tokenize any NFT added to the farms pools

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Provide liquidity, you know, it gets treated as a pretty much any token

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So we were the first ones to create a universal NFT wrapper

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We're bringing

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If you actually go to our main page and click on advanced mode

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We're bringing

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Yeah centralized exchange feel to a dex. So it's actually using the same engine same contract same back-end

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To provide centralized exchange like a trading so you can do limit orders braid orders. We're adding all kind of new

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Features as well down the line and we will be pushing new updates. You are updates very soon, which

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Drastically improves a lot of things right now. It's still early beta

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But yeah, the idea is to have a decentralized exchange where you're still historian of your funds and everything but

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Your experience is no different than a centralized exchange. It's actually much better because you get much deeper

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liquidity much, you know, we will have more

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Built-in bots so you can execute, you know

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You're even your own custom made bots or in-house mid-made bots. So it's really gonna be a

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Nice hub for traders, whether you're a

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Beginner who just wants to do a simple swap or you know, you want to do some

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advanced trading charting the body and all that jazz but

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And as far as Monero, we do have in that advanced menu where you know on centralized exchanges

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You have the pair section whether it's on the right or whatever

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We will have XMR pair section. So there will be a section

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of you know pairs strictly on their XMR category and

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We'll try to bridge over other

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layer one coins

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maybe privacy coins as well down the line whether it's

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You know Xano dash whatever you might be but if they do they will be primarily tagged against Monero because

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We see that as you know as far as

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privacy coins go

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Monero's the kings

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Very cool. Very cool. So practically speaking for somebody who wanted to use squad swap perhaps as a way to obtain Monero

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Sure, like real Monero like what would be what would be the steps that they would have to go through

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What would be the easiest way for them to get into Monero using squad swap?

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of course, so we have a

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well the

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The bridge creators the death team were very close to him

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You know I've known him again since the earlier days 2013 14

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These are the one of the most and in this space you really

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To bring go trust credibility, you know, it's not about being doxed. It's about actions and time, right? That's what takes

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That's the main ingredient to bring building trust and credibility. Well, we're working with such a team created a multi

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Signature of wallet to create this bridge system. So if you go to xmrrap.com

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I

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Think I'm gonna check myself. I want to make sure I'm giving the right but yeah, I should be XMR rap

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Samar

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So there

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May have lost hello. Hello. Yeah, it is XMR. There we go. Yeah, hello rap dot com

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Yes, we got you

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Okay, so yeah, that's the side. It's actually much simpler to use than

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Standard bridges people are used

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in used to using

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What is the concept?

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XMR rap calm

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Okay

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So you wrap your XMR

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Into a BNB BSC token and they're gonna add support for other chains as well down the line and other

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Layer one coins to be bridged, but XMR is the first one. So

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Yeah, you go to XMR rap calm

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Just enter your

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You know wallet that BSC address that you want to deposit your XMR to

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Soon as you click register, it'll give you deposit address and from that day forth

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You don't even have to go to that website. You can XMR rap calm not wrapped

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Yeah, wrap not wrap. Yeah, I sent it in the private chat if you want a

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Rap dot com

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Okay, got it. That's it

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Yeah, go ahead. Go ahead. So yeah, you just enter your BSC address click register you get your

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Dedicated deposit address

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Right now it's static. We are gonna make it where optionally you can choose a new address each time, you know for increased

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Anonymity, but yeah, right now you get that address and

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As soon as you get your address, you don't even have to go to the website anymore

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Anytime you you want just send any amount to that address and it will get deposited into your BSC address

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And if you want to honor

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Yeah, and if you want to unwrap

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Just go to the website connect the wallet choose the amount you want to unwrap the destination XMR address click transfer and

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Transfer goes instantly

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Into your wallet deposits will wrapping will take some time because we do require I think minimum is three confirmations

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Three to ten will adjust that but yeah

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Just for my understanding because I honestly I know I never used rap Monero

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So for somebody who wants to obtain Monero, right? They would go to your decks. They would trade some other

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Crypto for rap to Monero, right? Yeah, simple enough. That's just like using a instant exchange

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They'll get their rap to Monero and then they would take that back to something like

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XMR rap comm and then they could

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There they can turn their rap Monero into unwrap Monero, correct? That's right. You can test it right now

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We have about I think close to 40k

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Liquidity but our the goal is to get that at least quarter million before Monero

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Topia and by the end of the year we should have about close to a million concentrated

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Deep liquidity for Monero

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But yeah, it's pretty cool. Who runs this XMR rap comm is that you guys as well or?

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Well, it's um, it's our peers great devs like I said, we've known him for over a decade

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we've done

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Huge amounts in group buys transactions escrow

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None of ours our people are docks. I'm never I'm not docks the most of my team people have never seen my face

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but yeah, we we try to stay anonymous however the

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The bridge wallet you could say that story and wallet is a multi-signature though. We are

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Aiming to fully decentralize the bridge even the domain. So even the domain website

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we have we're experimenting with

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You know new ways of it. So even if the front page is sees taken down whatever

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Well, it can't because that domain itself the TLB will be decentralized as well as the back end

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It will be running on a decentralized nodes

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including the

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Monero wallet itself, you know, okay, okay tucks. Have you ever messed around with rap Monero?

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No, I've never used

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The Binance Smart Chain so well, let me give you guys some history on this. It's actually Binance

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One CZ was running the show in her earlier days

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And this is when you actually the the earlier signs that Binance is about to be taken over shown was

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It wasn't really that the least thing because Binance officially was supporting

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XMR rap version on Binance chain that actually had Binance peg XMR

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They just pulled that they

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Decommissioned it eventually I saw I was like hmm something's up because even the doors, right?

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Like if you see like there's official doors wrapped version on all the chains

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So who's you know, who's the official pegger, right? You've got it asked

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So I believe the current version is still Binance peg door

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So even like if you go to yeah, if you're trading on a pancake swap or area, you know

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Doing loans on VXS, you know, like this huge

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Platforms and you know even on Ethereum you're trading doors. That's obviously a wrap version of doors

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That's not the real doors, right?

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So who's the rapper you got asked, right? So that's where it goes back to so I think the current version is still Binance

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But they're supporting those rap version, but they pulled the plug on the XMR. So we're just kind of

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Taking over where they left off, right? Yeah

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Yeah, I mean, I think I think you'll definitely see some some demand

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Like I said, people are always looking for new ways to get in and out of Monero in a KYC freeway

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You know, you know kind of unstoppable decentralized way

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So, you know as you continue to develop this this tech in this platform and

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It it it works right now today, right for somebody that wants to effectively get in and out of

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Yeah, like you you have the page open if you go to like

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Click earn tab go to forums you can actually earn. I think the APR at the moment is

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Close to 30% or something you can actually

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Yeah, 30% APY

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APR just providing XMR liquidity

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And we'll adjust this as needed as more LP increases to keep the APY high. So

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Okay

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Very cool very cool. So wait, what what can you earn? Yeah on rap Monero right now?

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So so by providing liquidity by providing I think the pair is Monero and and is a BTC

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No, it's BNB a Monero and BNB Monero and BNB liquidity

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Then you could earn about 30% in the farm by providing

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liquidity and then staking your LP tokens in

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The farm and not only that we also have pools, right?

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And so these are generally for squad token holders and it's a way of like

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onboarding

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You know our community into different tokens and and different giving them exposure into different

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Worlds and so if you go up scroll up, you'll see the pool tab

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Yeah, if you keep scrolling up, you'll see pools next to farm or

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Or liquidity a little higher little higher

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They're little high

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There we go

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And so now if you scroll down to the bottom of this page, you'll see no

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people to

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To earn wrapped Monero by staking squad and so, you know, this is our way of onboarding more people into the community, right?

23:26.210 --> 23:31.370
Yeah getting eggs and marring two more hands pretty much what what what are the risks involved, right?

23:31.450 --> 23:36.630
I mean, you know earning 30% sounds sounds amazing kind of like a little too good to be true

23:36.630 --> 23:42.710
What are what are the risks that come with doing something like that? Well, it's 30% because the liquidity is still low

23:42.710 --> 23:49.390
I mean as the liquidity increases that APY will decrease or you'll probably stabilize around maybe more of about

23:49.390 --> 23:53.030
5% I'm assuming but again

23:53.030 --> 24:01.790
Yeah, if the volume is good, then yeah, that could definitely go higher than 5% it could still go above double digits

24:01.790 --> 24:04.470
It all depends on the volume after work

24:05.410 --> 24:07.750
but yeah, it's still not bad and

24:08.850 --> 24:15.410
Yeah, they're all they got to do is wrap some XMR provide liquidity and start earning

24:15.410 --> 24:20.970
You know and you could even count compound sell your earnings buy more XMR added to the LP or

24:20.970 --> 24:23.310
We draw it on rapid to your

24:23.930 --> 24:27.150
Wallet and keep your XMR in a you know safe place

24:27.690 --> 24:30.830
But as far as the contracts on the platform

24:31.490 --> 24:32.410
We are

24:33.050 --> 24:38.010
audited by top companies. There's two we use Cyberscope and also

24:38.850 --> 24:40.230
peck shield which

24:40.230 --> 24:40.950
did

24:40.950 --> 24:47.030
Which is the team that company that did the auditing as well for pancake swap and

24:47.830 --> 24:49.590
you know, they pretty much been

24:50.410 --> 24:50.970
hack

24:52.110 --> 24:55.570
Hackproof and you know knock on wood. So we had so have we

24:56.390 --> 25:01.890
But yeah, the contracts are there. They're open. They're audited you guys, you know, anyone is open

25:02.510 --> 25:03.250
welcome to

25:04.010 --> 25:06.310
Audited themselves check it out and

25:06.310 --> 25:13.530
But yeah, as far as the funds, you know, you're still the historian of your own funds whether you're using the decks or not

25:13.530 --> 25:13.990
but

25:15.170 --> 25:22.510
Yeah, I'm not the I would yeah, honestly, I would say the weakest chain in the link would be

25:23.530 --> 25:24.750
At this point

25:25.710 --> 25:30.510
You know, again, it's not like I want to I don't want to put scare people off

25:30.510 --> 25:32.990
But yeah, but it would be the bridge

25:32.990 --> 25:39.270
Yeah, but again, there's steps already in place to mitigate any high risk

25:39.790 --> 25:44.270
And we're also putting more steps into a matter of fact, you know to mitigate

25:44.910 --> 25:50.010
any potential risk by completely decentralizing the bridge as well not just from

25:50.670 --> 25:54.230
you know from even ourselves and from

25:55.030 --> 25:59.670
Authority and from hackers and you know all that just but yeah

25:59.670 --> 26:03.410
I mean, we know we're all school. We know what it takes. We know the

26:04.290 --> 26:07.150
Optics of things we know that you know, this is

26:08.010 --> 26:09.530
Crypto community at least

26:10.150 --> 26:14.310
The OG group, you know, they they drill down. They like to ask questions

26:14.310 --> 26:23.050
They not they like to see where the weak points are versus the new generation of meme coiners and price go up and

26:23.610 --> 26:26.050
Ra Ra Michael Saylor, you know

26:26.870 --> 26:31.850
But no, we're trying to keep it, you know truth of the core, but

26:32.690 --> 26:33.330
beautiful

26:34.110 --> 26:38.730
Nee he list I guess Neil list doesn't tip to dollar 23

26:38.730 --> 26:43.930
Very glad to see more decentralized exchanges pop up stay ungovernable folks

26:44.610 --> 26:48.310
Thank you very much. Yeah, we are always excited to see more

26:49.090 --> 26:53.690
Unramps on off ramps to Monero tip tip 25 cents. How long?

26:54.570 --> 26:59.830
Do I have does it have to be wrapped staked for and for are there for any limitations?

27:00.870 --> 27:03.190
I guess something like yeah, are there others

27:03.950 --> 27:09.670
Is there timing involved you what if you stake your minarets that have to get state stay locked for a certain amount of time or

27:10.410 --> 27:14.370
No, there's no time limits expression as on anything. It's all up to you

27:15.490 --> 27:17.870
Yeah, you could you could wrap an unwrapped

27:18.810 --> 27:20.710
You know, yeah, you can be in and out

27:20.710 --> 27:24.450
You want him if you want to make a lot of this trade

27:24.450 --> 27:24.870
Yeah

27:25.350 --> 27:31.190
Yeah, I mean you guys are probably like kind of like rolling out like why these guys seems so newish about that because I mean a lot of

27:31.190 --> 27:37.390
People in Monero, you know, we all we do is use crypto Monero for trading peer-to-peer as digital cash, right?

27:37.490 --> 27:38.670
Like there aren't a lot of

27:39.470 --> 27:40.070
You know

27:40.870 --> 27:45.370
Dexes around for Monero. There's not a lot of ways to do DeFi with Monero

27:45.370 --> 27:49.470
So I don't think there's too many people out there who have even done like the rafts of Monero thing

27:49.470 --> 27:50.750
It's been around for a while

27:51.470 --> 27:55.750
You know, I know the pain and I was just fortunate enough

27:55.750 --> 28:01.630
Well, we were fortunate enough to be in a position that you know, we saw the writing on the wall

28:01.630 --> 28:03.950
We saw these did these things we saw

28:04.830 --> 28:07.910
You know, and I mean, you know, you can't even check my tweets

28:07.910 --> 28:11.270
You know, I tweet about this stuff and I you know, I even say one day

28:11.270 --> 28:17.390
There's gonna come a day where all these Bitcoin maxis are actually gonna attack the Monero community

28:17.390 --> 28:23.810
They're actually gonna work hand in hand with government entities to take down Monero because in reality

28:24.570 --> 28:30.010
That's the you know, it's the real threat to Bitcoin. I mean Monero is what Bitcoin was supposed to be

28:30.010 --> 28:33.950
I mean, we all started with Bitcoin. Yeah, we knew it wasn't anonymous

28:33.950 --> 28:40.310
But we knew there was a you know ways of you know going taking anonymous routes, right? There was mixers just

28:40.310 --> 28:41.850
No custodian

28:42.730 --> 28:46.530
KYC custodian Wallace nothing, right? So it wasn't that much of a concern

28:46.530 --> 28:49.390
You know, but right now it looks like

28:50.990 --> 28:57.090
You know, it's funny to me also, you know when people say oh Bitcoin is the most decentralized and no, you know

28:57.090 --> 29:03.870
It's not there's actually two or three people that manage the you know, the main two three pools

29:04.450 --> 29:12.870
That have over 51% of the hash rate and these are already factories warehouses under government regulations

29:12.870 --> 29:16.430
All it would take is a government to say hey, you know, you're not gonna

29:18.010 --> 29:20.770
Allow any process any transaction

29:22.210 --> 29:27.630
That you know, it's not a whiteness that address or KYC that address something right if you don't follow this

29:27.630 --> 29:31.330
We're gonna shut your facility down, you know, and it's only two three

29:32.130 --> 29:36.590
Oblige, you know, then that's it, you know the screw your decentralization, you know, it's all gone

29:37.370 --> 29:40.370
It doesn't matter how strong your hash power is go ahead

29:40.370 --> 29:46.890
I was just saying Bitcoin ever 50% of the hash rate, isn't it like via BTC found your USA and ant pool

29:46.890 --> 29:49.590
And that's like the majority of the hash rate on Bitcoin

29:51.130 --> 29:56.810
Yeah, pretty much, you know, it's also funny when they're like, oh run your own full node help decentralization

29:56.810 --> 29:59.530
No, you're not you're just running resource for no

30:00.130 --> 30:05.430
No parent reason whatsoever because you're not helping anything minors and that's the thing

30:05.430 --> 30:06.690
You know, they I mean the whole

30:07.670 --> 30:11.550
This new era of Bitcoin maxis, you know, they're just I don't know

30:11.550 --> 30:16.550
They're just blinded by a numbers go up and even the numbers, you know, there's not much room to go up either

30:16.550 --> 30:22.730
Well, you're gonna go up four or five ten times, you know, it's more crypto with a XMR has

30:23.310 --> 30:28.990
20 times more potential than that if not more, you know, but it's not even about a numbers go up anymore

30:28.990 --> 30:32.110
I think it's a trap at this point pretty much. I think it just

30:33.390 --> 30:37.730
You know, look black rock and Larry you think, you know, these people are not stupid

30:37.730 --> 30:43.450
If they're shelling something that means they already bought, you know, when they were hating on bitcoins, they were they were buying

30:43.910 --> 30:49.450
You know, now they're down buying their shilling. So what they're doing is, you know, oh ETF great

30:49.450 --> 30:51.230
So what are we gonna do? Oh, let's do this

30:51.230 --> 30:56.930
Let's take every baby boomers money that they put in their life savings in their retirement and stuff

30:56.930 --> 31:04.070
And then let's start buying Bitcoin and pump, you know, black rocks Bitcoin up and then we're gonna crash Bitcoin

31:04.690 --> 31:10.890
While we cash out we're gonna blame crypto and Bitcoin for baby boomers losing their own their life savings

31:10.890 --> 31:17.710
And then they're gonna go after government begging for more regulations. So crypto won't do this to them anymore

31:17.710 --> 31:24.210
And they win, you know, they cash out at the top. They blame crypto crypto loses. They gets regulated

31:24.210 --> 31:33.710
I mean, it's such a simple plan. It's genius, you know, I mean if I was the evil genius billionaire Larry fling

31:33.710 --> 31:36.350
I would probably do exactly that but

31:37.270 --> 31:38.390
You know

31:39.290 --> 31:41.810
You fit in very well around here, my friends

31:42.770 --> 31:44.290
Stop by anytime

31:46.210 --> 31:49.350
You're speaking the language that we often speak around here

31:54.530 --> 31:58.670
You know the noobs out there, man, they're getting fooled by people like sailor

31:58.670 --> 32:03.590
Like you said, even the number go up narrative is kind of silly at this point, right?

32:03.670 --> 32:05.010
Like yeah, number is gonna go up

32:05.010 --> 32:09.850
But you know, you're not gonna thousand X from here for for Bitcoin. I mean

32:10.470 --> 32:12.970
maybe in a couple of centuries, I don't know but

32:13.770 --> 32:16.230
You know, it could only double so many more times

32:16.230 --> 32:19.130
So even that narrative is a bit silly

32:19.810 --> 32:23.650
like you said, it's really just about capturing the people and then

32:23.650 --> 32:24.890
being able to

32:25.550 --> 32:26.790
offload their profits

32:29.270 --> 32:33.390
Right, right. No, you guys are gonna hit it off at that event. I think

32:34.390 --> 32:41.910
Cush definitely definitely speaks the language. Oh, yeah

32:41.910 --> 32:45.770
Sorry, go ahead for us. I think I was just gonna say I think that's why he's cushed is actually

32:46.330 --> 32:48.330
You're the real bridge in this situation

32:48.330 --> 32:52.410
You know what I mean because you're gonna be able to speak the language at the murder event

32:52.410 --> 32:57.850
But then at all the other events that we go to, you know, when it's maybe it's East Denver or, you know

32:57.850 --> 33:00.310
I was just at an avalanche event in Argentina

33:01.430 --> 33:03.290
you know, it's really important to

33:04.050 --> 33:11.630
Meet and talk to new people who aren't in the same ecosystem because you know, that's that's really how I think we grow and how we could really

33:12.210 --> 33:12.590
connect

33:13.670 --> 33:15.870
Yeah, and from a Monero perspective too, right?

33:15.910 --> 33:19.850
Like I said, a lot of Monero people are looking for new on ramps off ramps

33:19.850 --> 33:26.650
But this also becomes a great way to introduce the the DeFi community to Monero, right?

33:26.970 --> 33:32.430
so there's those that really, you know, haven't really gone down the rabbit hole of

33:32.430 --> 33:36.790
Figuring out why privacy matters why crypto needs to be fungible

33:36.790 --> 33:41.290
But maybe as they're playing around on squad swap and they're trying to, you know

33:41.290 --> 33:46.430
Just just just make a dollar no matter what form it comes in they eventually

33:46.430 --> 33:51.110
Stubble on stubble upon raft XMR and start learning about about it that way

33:54.830 --> 33:58.390
What's that yeah, I was gonna you you hit around the

33:59.070 --> 34:00.710
Nail on the head that education

34:01.450 --> 34:04.410
Is one of the things is which trying to bring?

34:05.210 --> 34:06.650
Through squad so up as well

34:06.650 --> 34:12.750
So if anybody and this education can go both ways we're educating our community about XMR and yeah

34:12.750 --> 34:18.890
XMR community probably needs to be educated on you know, decentralized exchanges and you know

34:18.890 --> 34:21.930
Welcome to join our telegram channel. We have

34:21.930 --> 34:24.390
people even community members just

34:24.950 --> 34:30.090
Anxious to hold hands help people out introduce our actually communities very vibrant

34:30.790 --> 34:32.030
very down to earth

34:32.030 --> 34:36.110
If you like my character, you know or for us you're gonna love our community

34:36.110 --> 34:39.630
so it's it's great place to be on our telegram and

34:40.290 --> 34:42.770
You know, we're gonna introduce actually mining

34:43.450 --> 34:47.470
Monero as well, you know easy JavaScript so anybody can run from any

34:47.470 --> 34:52.970
Device provide this to our community so and people can get involved in mining Monero as well

34:54.070 --> 34:59.650
But yeah, I mean look I I'm not even sweating about centralized exchange delisting. This is actually

35:00.750 --> 35:01.650
You know

35:02.410 --> 35:03.610
great opportunity

35:04.510 --> 35:05.630
guys for

35:06.350 --> 35:08.130
for the whole XMR

35:09.270 --> 35:16.470
Ecosystem because you know who look at centralized exchanges are gone. There their time is limited. There's they serve their purpose

35:17.030 --> 35:17.830
You know

35:18.590 --> 35:23.890
Every giant falls. I don't know if you guys remember back in the days, you know, the AOL

35:24.870 --> 35:28.350
Binance well the old OG binance what used to be?

35:28.770 --> 35:34.430
Polonics or B tricks, right? It was that that was was the exchanges to get listed on if you're listed boom

35:34.430 --> 35:40.290
You made it, right? Where are they now or you know gone the same thing is gonna happen to Binance, you know

35:40.290 --> 35:46.210
I wouldn't even get excited like, you know, our community is like, oh when Binance listing, you know as far as our tokens

35:46.210 --> 35:48.950
I'm like, I'll go with the flow. I entertain them

35:48.950 --> 35:56.070
But in reality, I really don't care because that would be a waste of money waste of effort to put getting listed on Binance, you know this

35:57.690 --> 36:03.410
Legal stuff you got a jump through and all the fees you pays garbage. Why when two years down the line?

36:03.410 --> 36:05.770
They're not even gonna be here. There's already

36:06.490 --> 36:12.470
Decentralized exchanges that are operating, you know, the UI is mimics completely

36:13.210 --> 36:21.550
You know centralized exchange. So why even put your funds let something central authority be the historian of your funds

36:21.550 --> 36:27.710
No, I just go to decks and and the way we're trying to build our decks is to really give people

36:27.710 --> 36:34.170
Web 2.0 experience when joining, you know, it's we're trying to make it simple with the

36:34.750 --> 36:37.050
instructions with the UI so when

36:37.870 --> 36:38.870
when people

36:39.470 --> 36:44.890
Try to use our platform, they won't feel like oh, it's a new web 3 crypto thing

36:44.890 --> 36:52.430
No, it's just like signing on to our Facebook something, you know using it a native web 2.0 app

36:52.430 --> 36:56.430
So of course, there's a learning curve through everything, but it's not

36:57.190 --> 37:03.630
Complicated and if there's questions, we're definitely around, you know to help out and we will be putting out more

37:04.210 --> 37:10.230
step by step, you know step by step or instruct you how to instructional videos that, you know

37:11.030 --> 37:18.170
You know goes over specifically each function each procedure or all the great features we have so

37:19.570 --> 37:27.530
Yeah, hopefully people won't mess up, but honestly, there's a lot of room to mess up. Anyways, you know, everything is pre-self-explanatory

37:28.890 --> 37:30.230
So just a task

37:30.230 --> 37:35.790
The risk of

37:35.790 --> 37:40.950
Putting your Minero into Rapdex and more you're relying on this service that's hosted by a party

37:41.510 --> 37:46.770
Let's say the service shuts down because I don't really know how my smart chain works

37:46.770 --> 37:50.550
So I right. I don't know what the guarantees are here. Let's say the service shuts down

37:50.550 --> 37:58.090
You can't unwrap your Rapdex MR. What are your ways out at that point? Can you still swap your Rapdex MR for another?

37:58.850 --> 37:59.850
BSC token

38:01.390 --> 38:11.810
Yeah, you can always swap your Rapdex MR as long as it's you know, well your Rapdex MR never really leaves the Binance chain, right? It's

38:12.950 --> 38:16.090
It actually the way it works is once you

38:16.770 --> 38:18.830
Bridge over the contract means

38:19.830 --> 38:27.030
That exact amount of XMR you bridged over when you bridged out that exact amount is destroyed

38:27.030 --> 38:31.750
So the amount stays, you know consistent on BSE side

38:32.550 --> 38:35.330
To what's exactly in let's say the hot

38:35.930 --> 38:44.170
Wallet, right? So what you're really asking? Yeah, well you actually asked it pretty clearly what happens to the

38:44.170 --> 38:46.070
XMR so what happens is

38:46.770 --> 38:51.750
Yeah, the rap one you can still trade but you won't be able to exit how till

38:54.210 --> 38:59.130
Let's say the new UI comes up, right? So there's a

39:00.150 --> 39:03.670
failsafe procedures in place just in case the

39:04.370 --> 39:08.190
Interface gets taken down or you know some authority

39:08.850 --> 39:09.770
ceases whatever

39:10.750 --> 39:16.930
There's bunch of onion links whatever we can provide that will provide you interface to the back end

39:16.930 --> 39:19.590
So they can take the interface down the back end

39:19.590 --> 39:24.370
they'll never be able to take down and you could actually interact with the back end without even a

39:24.930 --> 39:32.630
Interface will you know, there will be instructions for that as well. However soon as we put the back end on there's there are later three

39:34.110 --> 39:43.510
Service of black chain service providers that are pretty much do what like Amazon AWS does or you know, digital ocean. They're pretty much hosting

39:45.170 --> 39:47.010
Small VPS sessions

39:47.830 --> 39:53.110
In a decentralized fashion, right? So you got redundancy within let's say 21 nodes

39:53.110 --> 39:57.010
Running your VPS session. So all we need to do is offload

39:57.810 --> 40:03.550
The back end onto one of those services and actually multiple services then at that case

40:03.550 --> 40:10.850
At that at that point. Yeah, nothing's gonna take down the bridge either. So you can always bridge in and out of

40:11.490 --> 40:12.210
your XMR

40:13.010 --> 40:13.470
Okay

40:14.450 --> 40:16.770
But we are still relying on

40:17.490 --> 40:22.470
Some party to provide the liquidity for unwrapping, right?

40:23.910 --> 40:32.370
I'm liquid it is provided by the people. So what you see over there is actual liquidity. So it's not like

40:34.850 --> 40:39.430
So that 40,000 worth of LP is 40,000 worth of

40:39.430 --> 40:44.330
XMR that's being bridged over using that bridge in order to provide LP

40:44.330 --> 40:49.050
So right now if you go by let's say five thousand dollar worth of

40:50.470 --> 40:52.650
XMR from the you know from that pool

40:52.650 --> 40:57.830
Well, five thousand against 40k LP. It's gonna give you a nice price impact

40:57.830 --> 41:02.790
But you'll still be able to buy it and then go to the XMR rap unwrap it send it to your wallet

41:02.790 --> 41:06.530
You're out in and out, you know, you know, you don't you don't have to stay in the rap mode

41:06.530 --> 41:09.090
You know, you can be in and out, you know mitigate the risk

41:09.090 --> 41:14.670
But for now, this is at that stage where again, it's not different than any other

41:15.550 --> 41:22.110
Project or even some change, you know, a lot of them pretty much the back end is still controlled by

41:23.430 --> 41:26.190
Multi-signature, right? Let's say

41:26.750 --> 41:33.510
Three out of five signature control even chain link itself, right? There's a few people controlling the entire

41:34.710 --> 41:35.310
platform

41:37.090 --> 41:41.450
That controls billions of worth of finance, you know in the multi-sign

41:41.450 --> 41:44.790
But it all comes down to whether those entities are

41:45.610 --> 41:51.970
Trusted and they will or if they can collude at this situation in our situation

41:52.770 --> 41:57.270
That's a very unlikely situation, you know, minimal risk. It's still

41:58.090 --> 41:59.710
It's under multi-sign

42:00.790 --> 42:06.990
None of these people will have incentive to steal this money being that they've made their wealth already

42:06.990 --> 42:11.550
So a few thousand or million is not gonna even put them in the

42:11.550 --> 42:17.370
To even consider such a thing and even if one considers again, the other two will not the blush

42:17.370 --> 42:23.050
So it's not gonna work, but this is the initial steps. However in the future, we will try to

42:23.710 --> 42:30.030
Also offload the hot wallet in a more decentralized bowel controlled fashion. So it will not even be

42:30.690 --> 42:34.350
You know to mitigate that human factor risk as well

42:34.970 --> 42:35.290
Um

42:36.190 --> 42:38.850
Yeah, make big Macbeth tip 20 cents

42:38.850 --> 42:45.690
Does the rate that you start the staking at stay the same until you un-stake it or does the rate change lot?

42:45.830 --> 42:52.250
Example 30% now until you un-stake or 30% today, but tomorrow 10% to 25% without

42:52.250 --> 42:54.970
the the way the

42:54.970 --> 42:57.930
Dexas work the APRs are in

42:58.550 --> 43:00.690
Every block it recalculates

43:00.690 --> 43:08.710
The APR based on the amount of liquidity. So if it increases the next block, it's gonna recalculate and

43:09.670 --> 43:11.470
It's gonna reduce the APY

43:11.470 --> 43:16.050
APR if you remove the LP, it's gonna recalculate and increase the APR

43:16.050 --> 43:22.370
So the more people join the more it reduces, but we do have the ability to you know

43:23.370 --> 43:27.190
Increase the multiplier on the back end. So if it drops too quick

43:27.810 --> 43:32.650
You know, we can always increase the multiplier to give the this to keep the APR

43:33.230 --> 43:36.030
Juicy matter fact our plan is to keep this APR

43:38.110 --> 43:39.790
Juicy at least till

43:40.790 --> 43:41.310
Monero

43:41.910 --> 43:43.870
Topia or you know end of the year

43:43.870 --> 43:51.290
But if again if traction picks up volume picks up then you know the APR would also automatically increase on its own

43:51.290 --> 43:57.490
So just to be clear this this number right here on the rap XMAR page of able XMAR for unwrap

43:57.490 --> 44:02.070
This is Monero that has essentially been deposited into a multi-seq wallet

44:02.810 --> 44:08.270
That people have so I did to get wrapped XMR minted on BSE, right?

44:08.770 --> 44:12.410
Exactly matter of fact, that's one of the suggestions I sent to the dev

44:12.410 --> 44:16.970
I told them to remove that because that's gonna confuse users thinking that's their balance

44:16.970 --> 44:24.370
But yeah, that should be somewhere on the top showing total amount that has been wrapped over onto BSE. Yeah

44:26.510 --> 44:35.710
Did we answer short waves question shortwave tip 25 cents, how can I take like US DC loan with exit with wrapped XMR on

44:36.530 --> 44:38.410
something like of

44:39.630 --> 44:42.770
I don't know does can you guys make sense of that question?

44:43.530 --> 44:46.250
well, I mean you can't you

44:47.110 --> 44:51.090
There's landing platforms like VXS on

44:51.710 --> 44:52.290
Venus

44:53.490 --> 44:56.510
Venus finance, I think it's called on by nice chain

44:56.510 --> 45:03.110
But you can only land and borrow against tokens they support so they don't support XMR

45:03.830 --> 45:05.670
That wrapped XMR yet

45:06.350 --> 45:12.090
But if you want you can I don't know if you can take your XMR sell it for I wouldn't do that

45:12.090 --> 45:17.510
Sell it for something they support and then land it earn take the earnings by XMR

45:17.510 --> 45:24.310
I don't know, but yeah, it's up to them. Maybe down the line. We will also deploy who knows landing borrowing platform

45:26.030 --> 45:32.430
We like building things anyway, so but yeah, maybe down the line, but I don't think there's anything

45:33.510 --> 45:35.750
Well, I'm sure there's anything that supports

45:36.730 --> 45:44.730
This version of rap XMR yet, but if it becomes you know, if it becomes popular against volume liquidity

45:45.270 --> 45:49.970
Yeah, definitely. There'll be platforms that would want to support then, you know

45:51.130 --> 45:53.170
Leach off that volume and liquidity

45:55.070 --> 45:56.850
All right, all right, all right

45:57.470 --> 46:03.910
Sorry, I have one more question go for it. Yeah, how does the discrepancy between the state liquidity and the

46:04.830 --> 46:07.590
Available XMR to unwrap on this

46:08.510 --> 46:08.910
wallet

46:10.670 --> 46:14.970
Workout because I can see people depositing Monero to get wrapped XMR

46:15.610 --> 46:16.010
and

46:16.870 --> 46:22.830
Then they stake it on the XMR farm and they earn money. There's going to be more

46:23.710 --> 46:24.650
air quote

46:25.550 --> 46:28.210
Available wrapped XMR value

46:29.030 --> 46:36.170
No, yeah, so definitely there's needs to be our forest. Let's plan to have another session

46:37.790 --> 46:41.470
Just to go over the basics on some decks

46:43.810 --> 46:48.330
Functionalities I think yeah, I get this a lot. So I think people

46:49.330 --> 46:52.630
Need to learn the basics of how

46:52.630 --> 47:01.010
A standard decks like uniswap forks work, you know, because they're all pretty much just work the same way

47:01.510 --> 47:06.530
And we are also uniswap work. So is pancake swap. So is anyways

47:07.150 --> 47:09.210
So when you provide a liquidity

47:11.030 --> 47:17.230
Yeah, you're providing both sides, right you're providing let's say you're providing BNB and

47:18.110 --> 47:22.370
XMR liquidity so you the value of both in USD

47:24.530 --> 47:27.630
Has to be the same so you have to provide let's say

47:28.870 --> 47:31.150
Let's say you're doing a thousand dollar worth of

47:31.150 --> 47:35.970
Liquidity you want to provide an earth so you have to provide a thousand dollar worth of

47:36.510 --> 47:39.550
XMR and thousand dollar worth of BNB

47:39.550 --> 47:45.870
So, you know, you create this 50 50 pair that becomes the hundred percent of your liquidity

47:45.870 --> 47:48.290
So now you provided liquidity

47:48.290 --> 47:55.610
So what happens is this is where your numbers could change soon as you create that liquidity pool

47:55.610 --> 47:59.750
So now you provided 50 50 pair. Well, what happens?

48:00.550 --> 48:02.110
Let's say if somebody buys

48:02.800 --> 48:07.470
25% of the liquidity pool, right that means you're gonna have

48:08.310 --> 48:14.010
By 25% XMR from that liquidity pool. Well, you're gonna have

48:15.490 --> 48:21.270
25% less XMR, but 25% more BNB, right?

48:21.470 --> 48:27.310
Because that was the offset that was the trade. So at that point if you remove your LP

48:27.310 --> 48:32.910
You're gonna have 25% less XMR, but 25% more BNB

48:32.910 --> 48:35.450
So technically value is still the same

48:35.450 --> 48:40.430
I mean you can go sell your BNB and you know buy that XMR to make up where whatever you want to do

48:40.430 --> 48:43.230
But that's how the system works. So

48:47.110 --> 48:52.290
But and this and this is how you pretty much I mean the value technique, there's

48:52.290 --> 48:57.470
Things called incremental loss. You can look into that as well. That's the last people

48:58.250 --> 49:02.050
See, it's not really lost, but it's more like missing out, right?

49:02.190 --> 49:05.830
Let's say if you didn't provide the liquidity pair, right?

49:06.050 --> 49:12.290
You your XMR was sitting by itself and your BNB was sitting by itself if XMR price

49:12.290 --> 49:15.430
doubles, right? 100% it goes up

49:16.090 --> 49:20.750
You know, what's today 150 it goes up to 300, right?

49:21.070 --> 49:25.570
Well, if you were sitting on the sideline your yeah, your XMR is gonna go up to 300

49:25.570 --> 49:31.770
But if you were if XMR goes to 300 at a time you were providing LP

49:32.470 --> 49:33.070
Well

49:33.990 --> 49:39.010
Yeah, your LP's value is gonna go up because XMR value went up

49:39.010 --> 49:45.750
But you went up slowly as people were buying it. So when you remove it, you're not gonna get

49:47.730 --> 49:49.010
a the

49:49.010 --> 49:55.190
The exact amount of XMR that equals to the value you would have had

49:55.950 --> 49:58.410
If you would have just kept your XMR, it's

49:59.750 --> 50:06.030
Too long of a subject. Yeah, right now, but yeah, definitely these are the basics technically

50:06.030 --> 50:09.630
You don't lose out. I mean again, you just get the other side of the pair

50:10.230 --> 50:12.830
And yeah, if you go buy your XMR back

50:12.830 --> 50:17.370
You still have your original XMR plus the rewards you earned from the platform

50:17.370 --> 50:25.070
It just that this is the quote-unquote risk of providing LP is that you're now you're a market maker, right?

50:25.630 --> 50:30.630
It's no difference than going on a centralized exchange that provides

50:32.090 --> 50:32.990
You know

50:32.990 --> 50:33.330
liquid

50:34.710 --> 50:35.750
rewards for

50:36.270 --> 50:40.870
Market makers, right? So what you have to do to earn this reward as a market maker

50:40.870 --> 50:45.110
You have to provide liquidity on both sides on the sell side and the buy side

50:45.110 --> 50:50.090
Well, if that coin does good or bad one side is gonna get eaten up

50:50.090 --> 50:55.190
Right. So the market maker is left with more on this side and a little bit less on this side

50:55.190 --> 50:56.670
same thing on the

50:56.670 --> 50:57.610
decks

50:58.290 --> 51:00.270
Same exact thing. You're just being

51:00.270 --> 51:04.850
You're being given rewards for being a market maker

51:04.850 --> 51:11.370
So liquidity providers are nothing more but a market makers. It's just that automated market maker

51:11.370 --> 51:18.470
Hence the term AMM. Yes. I see. Okay. That makes it if I may hop in real quick tuxedo

51:18.470 --> 51:19.530
I think you know, I

51:19.530 --> 51:23.390
Kush was explaining really the mechanics on on how decks works

51:23.390 --> 51:30.070
But you know, what I'm understanding from your question is your concern of this inflation rate is printing rap

51:31.470 --> 51:37.450
Monero and then if people have more rap from an arrow then that's gone in. How are they gonna take it out, right?

51:38.050 --> 51:43.290
Well, just to give you an idea with the wrapped BNB and rap Monero farm

51:43.290 --> 51:48.730
The token that is rewarded is actually squad. So it's the native token of our debt

51:48.730 --> 51:55.870
Okay, right question directly and then in the pool, right where you stake squad and earned wrapped Monero

51:55.870 --> 51:58.730
Yes, that does have an inflation rate

51:58.730 --> 52:04.130
but what we're doing is we're actually bridging Monero and then

52:04.730 --> 52:11.550
We're taking that wrapped Monero and using that as the as the token in the reward pool and distributing that

52:11.550 --> 52:18.010
So it's not like it's not like they're printing wrapped Monero on one side and only a hundred Monero

52:19.170 --> 52:23.170
Tokens have gone into Binance Smart Chain, but now there's a hundred and ten

52:23.170 --> 52:24.670
wrapped Monero

52:25.410 --> 52:30.810
Tokens on Binance Smart Chain if everyone tries to exit it wouldn't be possible because there isn't enough in the bridge, right?

52:31.450 --> 52:35.370
But no, we've we've made sure to cover our bases with that, right?

52:36.050 --> 52:39.830
Yeah, Monero always stays one to one again if it's minted

52:39.830 --> 52:45.570
It's created when it's exited it destroyed and yeah, I guess you're right by time

52:45.570 --> 52:48.730
I got to the point I forgot the point for us. Thanks for bringing me back

52:48.730 --> 52:55.350
But yeah, the rewards you get is what token so you're we're not really inflating the we're not inflating at all XMR

52:55.350 --> 53:03.350
You're earning squad token is part of the dex's reward mechanism. So yeah by providing XMR and BNB

53:03.890 --> 53:08.670
liquidity and being a market maker you earn rewards, you know, so

53:09.250 --> 53:11.990
current rewards are at 30% rate

53:12.510 --> 53:13.270
So enjoy

53:13.270 --> 53:18.850
Let Michael get his follow-up question here and you guys may have kind of indirectly answered

53:18.850 --> 53:28.730
Will the APR payments be 30% of the Monero or 30% of the dollar value of the Monero slash crypto

53:29.350 --> 53:31.330
It's the dollar value

53:32.570 --> 53:37.510
Of XMR of your liquidity pool you provided

53:37.510 --> 53:41.530
But that dollar value reward is in squad token

53:42.150 --> 53:48.350
Mm-hmm. Mm-hmm. So so yeah, you put a hundred dollars of LP. You'll get you know

53:49.090 --> 53:54.070
$30 back by the end of the year, but you're getting it in a token that's squad

53:54.070 --> 54:01.090
Which obviously the price fluctuates. So hopefully by the end of the year that that $30 will actually be worth

54:01.090 --> 54:02.670
$300,000

54:04.670 --> 54:11.030
At some point during the year you approve. Yeah, I mean, you know, maybe next week who knows, you know

54:11.030 --> 54:12.290
Anything's possible, right?

54:13.990 --> 54:14.110
Yeah

54:14.730 --> 54:16.090
but yeah, I mean if to

54:17.010 --> 54:20.150
theoretically if you want to see that exact

54:21.050 --> 54:28.950
Yield earning then you yeah, you have to every after every block you have to well that wouldn't it make make sense because your fees are gonna

54:29.630 --> 54:30.770
you know, I'll

54:31.890 --> 54:36.890
Score that but yeah, if you withdraw, let's say once a day sell your squad

54:39.190 --> 54:44.010
For you know USD that's exactly what your APR is going to be

54:44.010 --> 54:50.770
But you know, if you don't sell your squad, maybe you think it has more potential and then you know, then

54:50.770 --> 54:54.750
You know, you sell it the year down the line when the price is up

54:54.750 --> 54:59.890
Then yeah, you're gonna see more appreciation, but also there's a risk price to go down

55:00.830 --> 55:02.650
So let's not beat around the bush

55:03.650 --> 55:04.130
Yeah

55:05.910 --> 55:07.990
accrued interest in squad and

55:08.650 --> 55:10.170
swap it with like USD

55:10.170 --> 55:17.370
Let's make it more fun. What you can do is

55:18.050 --> 55:25.430
Provide XMR BNB liquidity earn squad token. Take that squad token into our staking pool and

55:26.010 --> 55:29.530
Earn XMR token by staking your squad token

55:30.350 --> 55:36.910
So staking is not providing LP. There's no risk in staking. You just put this

55:36.910 --> 55:43.370
It just locks your token and then provides rewards, you know in return. So yeah provide

55:44.130 --> 55:49.450
You know LP for XMR by doing so your earning rewards. You're helping the ecosystem

55:49.450 --> 55:53.970
You're helping the XMR, you know liquidity pools grow

55:54.530 --> 56:01.990
And in return you earn squad token and you can compound your earning by taking that squad token and yeah

56:03.030 --> 56:09.910
Staking with it and earning more XMR and then take that XMR create more LP added to the LP to come back

56:09.910 --> 56:11.250
Alright, I'm gonna stop

56:14.270 --> 56:20.750
But that's the fun of DeFi, you know, we're all here to just cycle coins around and earn more of them, right?

56:21.390 --> 56:24.930
So the people come out with real use case for this thing called crypto

56:26.090 --> 56:26.810
Yeah, I'm

56:27.650 --> 56:28.830
I'm not in the

56:29.470 --> 56:32.510
I'm not really in the Ethereum space. So all this is kind of new to me

56:32.510 --> 56:37.890
So sorry if I had some very newish questions and also just being able to make money, you know immediately raises

56:37.890 --> 56:44.450
Sure, I mean honestly buying a chain is a great place to start because their fees are so low and

56:44.450 --> 56:50.010
This is how I got on buying that chain personally, you know, I mean, yeah, I could afford the fees, you know and stuff

56:50.010 --> 56:55.510
But when I first wanted to learn about this, you know, when uniswap first came around

56:56.350 --> 57:00.990
You know, there was a lot of forks, but it will cost arm and a leg just to you know

57:01.650 --> 57:07.070
Provide LP and this on Ethereum. So I'm like, okay, I gotta learn this but you know

57:07.070 --> 57:13.790
But I don't want this cost me thousands. So I tried buying a chain and each transaction is less than five cents

57:14.270 --> 57:16.930
So, you know for me was you know at that point

57:16.930 --> 57:24.770
Yeah, it took less than a week to grasp the concept of these, you know, yield farming and pretty similar to Ethereum, isn't it?

57:25.490 --> 57:31.190
Oh, yeah, it's pretty much identical. There's some difference in the consensus because it's appeal

57:33.010 --> 57:38.910
It was proof of stake first they were doing the first proof of stake and I actually was multi layer

57:38.910 --> 57:39.450
They were using

57:40.410 --> 57:45.590
Cosmos a chain or a fork of Cosmos chain as their consensus and then they

57:45.590 --> 57:49.590
Well, I don't want to dive into it. But yeah, it's a pretty much exact fork of

57:50.110 --> 57:53.350
Ethereum if a certain contract runs on that it's gonna run and

57:53.350 --> 57:57.910
Buy an S chain. So if you want to learn, yeah, if it works here, it's gonna work there

57:57.910 --> 58:02.830
So if yeah, if you want to learn it's best to learn on you know on this chain because

58:03.590 --> 58:11.070
It has the highest. Yeah, it's not just cheaper, but you know, it really has the highest volume highest transaction. So

58:11.610 --> 58:12.490
you know

58:12.490 --> 58:20.150
One of highest liquidity. So, you know, you're not gonna be testing in a desert, right? There's gonna be action while you're testing

58:21.450 --> 58:25.230
But honestly community is great, especially ours, of course

58:26.010 --> 58:32.670
But join we're again, we're we're we're more than happy to help hold hands show you guys how things are done and

58:33.250 --> 58:39.390
Again, it's really once I the concept clicks in your mind. It's very simple. You know, it just yeah

58:39.390 --> 58:47.110
It just takes that moment and you know, just little poking around and in less than a week. You'll be a defy pro bro. Trust me

58:48.070 --> 58:52.110
That last file question for me, sorry, like no, this is good

58:52.570 --> 58:58.330
I think I think a lot a lot of people in Monero land like I was saying before really are haven't really delved into the whole

58:58.330 --> 59:01.010
DeFi. No, I mean, I haven't been in the DeFi stuff that much

59:01.010 --> 59:06.090
I've been kind of primarily Monero just like most most people like you said if somebody wants to

59:06.090 --> 59:12.450
Try this out. What what wallet do you recommend for somebody to use for BSC?

59:13.570 --> 59:19.310
Well, again, go to my wallet for people is metamask. I would stay away from that

59:19.310 --> 59:26.530
That's a government surveillance systems by agency and they actually can oh really they have they have access to your private keys

59:26.530 --> 59:31.710
It's in their eola. If you read their agreement, it says it they can have access to your private keys

59:31.710 --> 59:33.770
So stay away from metamask

59:35.950 --> 59:41.850
There's a you know, but the one I personally like to use is safe pal

59:43.430 --> 59:44.950
Though it's a Chinese company

59:46.170 --> 59:51.430
But I really love their hardware wallet and they have hardware and software wallet

59:51.430 --> 59:53.950
So, you know, you don't have to have the hardware wallet

59:53.950 --> 01:00:00.730
But if you have it, it makes a great compliment and it's one of the best hardware wallets. I've seen with the camera really slim

01:00:02.550 --> 01:00:07.440
But yeah, again, you can I don't know for us what your favorite software wallet to use

01:00:09.530 --> 01:00:16.630
But we only support ethereum and polygon we don't support BSC so

01:00:20.330 --> 01:00:28.350
Yeah, definitely, I mean especially if you guys aggregate through other, you know swapping the platforms trading platforms

01:00:29.710 --> 01:00:36.170
You know, if you click in yeah, hook into by Nash chain, you know, you probably have access to our liquidity as well

01:00:37.370 --> 01:00:43.750
To aggregate through or you know, or we can aggregate to you guys in a way, but yeah the cake wallet

01:00:45.450 --> 01:00:50.510
Yeah, wouldn't work right now, but I use safe pal. It's work, you know simple just

01:00:51.690 --> 01:00:57.630
You'd have a browser extension. You can use that one, you know, just generate an address

01:01:00.370 --> 01:01:07.910
Make sure you put a proper long password on your wallet. Yeah, just simply connect and that's it

01:01:09.490 --> 01:01:14.830
You're set to go. I mean you can start interacting with the site. I guess first thing would do is

01:01:15.510 --> 01:01:18.850
Go to the bridge site just sent over

01:01:19.470 --> 01:01:22.290
I know point one XMR if you want

01:01:23.890 --> 01:01:29.910
Bridge it over see, you know see work and if he wants to bridge goes through maybe you want to send up one whole

01:01:30.470 --> 01:01:31.530
XMR and then

01:01:32.270 --> 01:01:34.570
Start with that at LP

01:01:35.490 --> 01:01:42.590
Start earning rewards. Take your reward put in a staking pool. See how the flow is flow goes and understand

01:01:43.770 --> 01:01:50.930
Mechanics and then you can you know unwrap see how unwrapping goes how it, you know quickly receive it and

01:01:50.930 --> 01:01:54.470
Yeah, if it works smooth, then you can you know, we want to

01:01:55.350 --> 01:01:59.030
Going with the bigger amounts go ahead, but I would say at least

01:02:00.930 --> 01:02:01.410
Till

01:02:02.510 --> 01:02:07.630
Monero topia just test with small amounts because we're also still testing but

01:02:08.770 --> 01:02:15.370
Afterwards, I would say yeah, we'll remove the beta tag and it'll be more much more

01:02:16.490 --> 01:02:20.290
You know tested and rigged and ready to go. So at that point

01:02:20.930 --> 01:02:25.670
You're more than welcome to bridge any amount you want, but right now just I would say it's more of a testing

01:02:28.310 --> 01:02:28.790
Interesting

01:02:31.230 --> 01:02:32.590
All right guys

01:02:33.430 --> 01:02:41.910
This is great fantastic. Thank you guys again for the sponsorship for the privacy tech sponsorship for Monero topia greatly appreciate it

01:02:41.910 --> 01:02:46.270
Very excited to be hanging out with you. Are you guys both coming down or is it just gonna be?

01:02:47.350 --> 01:02:49.590
Cushed as far as coming as well. Yeah

01:02:50.250 --> 01:02:51.230
Fortunately, we were

01:02:51.230 --> 01:02:57.730
More of our team was gonna come to them bailed out last minute. I'm gonna say, you know, I'm gonna blame their wives

01:02:57.730 --> 01:03:03.970
But what actually one of them is single, but yeah, of course, then I will be joining you guys

01:03:03.970 --> 01:03:05.980
We'll bring some goodies with us as well

01:03:08.310 --> 01:03:11.730
Yeah, we've got some nice handouts

01:03:12.550 --> 01:03:17.790
Probably like Monero key chains and stuff to give out, but yeah, we'll bring some goodies with us as well

01:03:18.970 --> 01:03:25.650
David is saying he's going to try after lunch. All right, so we think we got we're gonna give a shot

01:03:26.730 --> 01:03:32.030
Excellent. Yeah, and don't forget to get my XMR off Konami wallet. Oh, okay

01:03:32.030 --> 01:03:38.830
With drawing to cake water. Yeah, there you go. There you go. Yeah, and actually that's what I use cake wallet

01:03:38.830 --> 01:03:40.630
I send it from cake wallet to

01:03:41.430 --> 01:03:44.730
XMR rap go from there and work smooth

01:03:46.110 --> 01:03:50.030
So there's a little bug with the cake wallet as well

01:03:51.490 --> 01:03:55.050
With the cake wallet, I need to submit a bug report on that one

01:03:56.470 --> 01:04:02.210
Maybe it's just me. I don't know if I go to coin control if I go to coin control and

01:04:03.290 --> 01:04:04.750
specify a specific

01:04:06.710 --> 01:04:09.430
You what is it you XTO, right?

01:04:12.570 --> 01:04:13.130
And

01:04:13.130 --> 01:04:18.070
Then I and then to send out specific amount from that selected

01:04:18.670 --> 01:04:22.710
XTO then when I present it pretty much error

01:04:23.350 --> 01:04:25.950
Doesn't ever give me error, but just the app closes

01:04:26.670 --> 01:04:32.130
But if I don't if I just select that you XTO, but our own change the amount

01:04:32.130 --> 01:04:35.030
So I leave the whole thing it works

01:04:36.030 --> 01:04:38.770
So I know probably many users don't go

01:04:39.430 --> 01:04:43.190
Go down to that level when using the wallet. Yeah, definitely not for Monero

01:04:43.190 --> 01:04:49.390
Yeah, if you could DM me the details of that now I'll look into that see if that's something that can be fixed

01:04:49.390 --> 01:04:55.370
Yeah, what I'll do is I'll just capture the video of how exactly behaves and I'll send that a one over

01:04:55.870 --> 01:04:56.910
Awesome. Thank you

01:04:58.150 --> 01:05:03.470
You were saying you was called safe pal somebody's asking the name of that wallet safe pal for

01:05:04.530 --> 01:05:05.010
Yeah

01:05:09.910 --> 01:05:14.810
And then XMR cash is asking how about adding pirate chain to squat swap

01:05:16.310 --> 01:05:21.250
Yeah, you got a pirate chain fan that wants to have pirate to squad. I don't know that is that on your

01:05:21.890 --> 01:05:25.670
pirate adding to squads up adding their token point or

01:05:26.810 --> 01:05:27.330
standalone

01:05:30.590 --> 01:05:33.310
Yeah, I know pirate chain I've heard of it

01:05:33.310 --> 01:05:37.510
I think I know a few guys from the community, but yeah, I know this they're on chain

01:05:37.510 --> 01:05:40.450
Are they're EVM chain if they're EVM chain?

01:05:42.470 --> 01:05:43.590
Yeah, no

01:05:46.130 --> 01:05:46.690
Forget

01:05:48.070 --> 01:05:51.270
But yeah, we're willing to down the line add more

01:05:51.950 --> 01:05:59.330
Layer one points with this bridge that community demands, but right now we're sticking with XMR for now

01:06:01.030 --> 01:06:05.930
Right fellas. Yeah, any last words before we move on we still got a big show ahead

01:06:05.930 --> 01:06:11.810
We still got price report viewers on stage. You guys are welcome to stay along obviously for the entire show

01:06:11.810 --> 01:06:16.510
But yeah, if you want any any any last words when you have stage right now

01:06:16.510 --> 01:06:19.190
I know I was just gonna say, you know

01:06:19.190 --> 01:06:23.370
Follow us on Twitter and join the the community and telegram

01:06:23.370 --> 01:06:28.810
So if you have any questions, you know, we could be there to help and no

01:06:28.810 --> 01:06:35.350
we're looking forward to seeing you guys and meeting everyone in Mexico City and in a couple weeks basically, right?

01:06:35.350 --> 01:06:41.190
So it should be should be a great time. Oh, yeah. Oh, yeah, I can't wait for those tacos, man

01:06:43.530 --> 01:06:46.170
Plenty of tacos brother. It's nice to see you guys down there

01:06:46.970 --> 01:06:52.410
All right. Yeah, and don't forget to stop at our booth for some goodies and

01:06:54.670 --> 01:06:56.550
Yeah, well, thanks for having us guys

01:06:57.270 --> 01:07:02.870
Yes, fantastic. Yeah, you're welcome to stop in on the show anytime and very much looking forward to hanging out with

01:07:02.870 --> 01:07:05.400
you guys down in Mexico City of Monero Topia and

01:07:06.050 --> 01:07:11.710
You know, thanks for the sponsorship and for, you know being open and providing the community information

01:07:13.230 --> 01:07:17.570
Everybody definitely appreciates that and I think like we said, there's not a lot of

01:07:18.410 --> 01:07:25.270
DeFi users in the in the Monero sphere. So this is this is a good bridge into DeFi for those that are into Monero

01:07:25.270 --> 01:07:27.350
So I appreciate that

01:07:28.730 --> 01:07:29.810
All right

01:07:30.670 --> 01:07:32.270
Yep, cheers guys

01:07:32.270 --> 01:07:38.250
Thanks so much. We will move on. We will do price your product. Let's get body up here

01:07:38.850 --> 01:07:40.170
All right, but he's probably

01:07:40.890 --> 01:07:45.810
Waiting, let's yeah, but bodies regretting now that he didn't go first. I think

01:07:46.750 --> 01:07:47.830
Let's do it

01:07:55.660 --> 01:07:59.160
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01:07:59.820 --> 01:08:04.820
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01:08:30.060 --> 01:08:31.200
What's up, buddy

01:08:32.440 --> 01:08:38.160
Oh, it's good man. Just enjoying the show interesting guest interesting platform

01:08:39.380 --> 01:08:45.820
Yeah, man, do you do do the DeFi stuff at all? Is that how do you do you dabble with that? You definitely uh, right?

01:08:45.900 --> 01:08:47.500
I dabble, but it's more like

01:08:47.980 --> 01:08:50.420
It's normie dabbling, you know, I'm just like

01:08:51.220 --> 01:08:54.320
Occasionally trying to buy stuff that I think will go up in value

01:08:54.320 --> 01:08:59.340
But I don't really do like the meme coins. I don't I'm not hardcore into the DeFi stuff

01:08:59.340 --> 01:09:00.900
It's mostly that I just use it

01:09:01.360 --> 01:09:04.620
Um, like the big headline items, you know, like the stable coins

01:09:05.920 --> 01:09:12.000
But are you like are you staking and like you're trying to earn, you know or an apr on your

01:09:12.460 --> 01:09:17.480
I've always I mean at the risk of um, you know, I don't want to

01:09:17.480 --> 01:09:20.560
Be too negative Nancy, you know considering we just had the guess

01:09:20.560 --> 01:09:23.700
But my personal strategy has never been to do all the staking stuff

01:09:23.700 --> 01:09:26.300
I feel like that comes with significant amounts of risk

01:09:26.860 --> 01:09:29.660
And crypto goes up by such massive amounts. I mean

01:09:30.300 --> 01:09:36.480
You know, like my strategy is hey find the moments in time that you're going to make a 2x, you know 5x

01:09:37.660 --> 01:09:42.920
And and try and make big sums of money at the right moments in time and then sort of just like tread water by your time

01:09:43.500 --> 01:09:48.660
So I always felt like why am I going to be staking with high risk for 10 yield or 20 yield?

01:09:49.040 --> 01:09:52.560
When I buy something that's that's probably going to go up like 2 3 5x

01:09:52.560 --> 01:09:56.880
Yeah, like especially for manero right now where it's at. I feel like you're better off

01:09:56.880 --> 01:10:00.080
Um, but then a year just holding that manero and manero

01:10:00.640 --> 01:10:02.280
Now I I'll probably try it

01:10:02.800 --> 01:10:08.920
With some amount of money just just to try it and see how that works. I've never done it before. I'm you know

01:10:08.920 --> 01:10:10.000
Like Doug was saying

01:10:10.500 --> 01:10:15.080
I'm a manero person. I'm not in the d5 slash web 3 space. So all this is pretty new to me

01:10:15.600 --> 01:10:19.800
Uh, interesting to see manero offerings on there. So might just check it out

01:10:19.800 --> 01:10:21.820
Maybe put some money in there to see how it works

01:10:23.600 --> 01:10:27.340
Yeah, I I kind of wanted to ask them why they why they chose b&b is their platform

01:10:28.100 --> 01:10:31.960
Um, like all the bad if I might if I bring them up again real quick just to give them a

01:10:31.960 --> 01:10:34.880
I hope sure. Yeah doesn't turn it to too long of a convo to hold up

01:10:35.300 --> 01:10:38.840
No, just a just a couple questions. Maybe oh, yeah, cuz if you're still there

01:10:39.300 --> 01:10:41.900
Body could uh, ask you a few questions as well

01:10:42.700 --> 01:10:44.140
Sure should still here

01:10:44.920 --> 01:10:49.280
Yeah, so I was wondering what were like, what was the selection criteria that you'll chose b&b

01:10:49.280 --> 01:10:53.180
Was it like y'all started a long time ago developing and so you just kind of kept doing that?

01:10:53.620 --> 01:10:55.560
Or was there like other specific reasons?

01:10:56.400 --> 01:10:58.540
I think it was more of a chain of events

01:10:58.540 --> 01:11:05.540
What what happened was like I mentioned earlier when I wanted to dabble in d5 got into binance, right try to buy that chain

01:11:06.160 --> 01:11:10.000
Well through buy that chain I bumped into a pancake squad

01:11:10.560 --> 01:11:13.640
I mean pancake swap, um, you know a platform

01:11:14.300 --> 01:11:19.180
Uh made a killing of it, but but way early. I was actually uh

01:11:20.300 --> 01:11:24.100
Um at one point. I think I was holding three percent of their supply

01:11:26.120 --> 01:11:32.380
But yeah, I did well and um, I was all into their ecosystem. They had a huge community

01:11:33.040 --> 01:11:34.540
so binance again was uh

01:11:34.540 --> 01:11:39.320
Binance chain was blown up and it's still it's uh top two three

01:11:40.040 --> 01:11:44.960
Well, it was after eth. It was the second most used and in some scenarios

01:11:44.960 --> 01:11:48.040
It was even in statistics higher than ethereum chain

01:11:48.600 --> 01:11:50.700
um till selona meme coin

01:11:51.480 --> 01:11:53.320
Did you know diggins came alone?

01:11:53.600 --> 01:11:58.380
But yeah, binance chain is still the second third highest used highest volume highest tvl

01:11:58.380 --> 01:12:05.380
most transactions per second highest users, but anyways, I came, um, you know to pancake swap and

01:12:05.380 --> 01:12:10.640
You know bought into their nft with nft. I uh came across this

01:12:11.540 --> 01:12:17.320
The community in the telegram channel joined. I mean again, I've been in this space for over a decade

01:12:17.320 --> 01:12:20.400
and it was unlike any and I've been part of many communities, but

01:12:20.920 --> 01:12:24.720
This was unlike any other and I've been with this same community for

01:12:25.440 --> 01:12:29.060
Ever since, you know, it's been two three years probably and um

01:12:29.620 --> 01:12:33.300
we grew together uh created culture history and

01:12:34.080 --> 01:12:39.880
And uh, slowly things just started to fall off, you know with pancake swap team

01:12:39.880 --> 01:12:44.140
They we felt like, you know, they deserted us as a community as a collection

01:12:44.950 --> 01:12:48.420
We just took action, you know, and unfortunately we had

01:12:49.410 --> 01:12:56.520
People resource and everything necessary to pretty much create a competing product that delivers utilities to a

01:12:56.520 --> 01:13:00.340
pancake squad nft collection now. So that's kind of part of

01:13:00.810 --> 01:13:03.080
The dex is part of the

01:13:03.910 --> 01:13:08.640
It offers utilities and discounts and even our other

01:13:09.580 --> 01:13:14.920
Projects we have we've built other stuff like marketplaces, but that's why we chose bnb chain

01:13:14.920 --> 01:13:19.960
And we just started a long time ago and and you were in I mean binance was the thing to be in and so you

01:13:19.960 --> 01:13:23.200
Yeah, you went with finance because that was the thing it still has liquidity

01:13:23.200 --> 01:13:28.900
And so that's just where inertia has has left you guys and it's still apparently a good choice in your mind

01:13:28.900 --> 01:13:35.280
Um, even though we bring it out over to other chains, uh still bnb remains the uh focal point for us. Yeah

01:13:35.920 --> 01:13:40.620
The other thing that I'd like to know is what kind of protection mechanisms do you have in place? Um

01:13:41.320 --> 01:13:44.820
That an outside observer a third party observer that wants to use

01:13:45.440 --> 01:13:48.840
That wants to use this wrapped service. How can they validate that?

01:13:49.780 --> 01:13:52.740
The xmr that's in the wallet in the multi-stick wallet

01:13:52.740 --> 01:13:54.860
Um actually has the minero

01:13:54.860 --> 01:13:59.640
Uh that is represented by the wrapping or the finance and like what are the

01:13:59.640 --> 01:14:01.280
mechanisms that y'all have

01:14:03.220 --> 01:14:04.180
We don't

01:14:04.820 --> 01:14:09.980
Quick answer, but I mean if it if it was bitcoin, it would be easier. I could just point to a blockchain

01:14:10.900 --> 01:14:11.320
address

01:14:11.900 --> 01:14:13.200
right and then

01:14:13.940 --> 01:14:14.360
um

01:14:15.100 --> 01:14:21.200
You can look at the balance transactions and all this stuff with xmr. It doesn't quite work that way

01:14:21.880 --> 01:14:22.300
um

01:14:22.300 --> 01:14:22.780
the

01:14:24.160 --> 01:14:26.340
Like y'all publish the keys of the wallet

01:14:27.160 --> 01:14:28.800
Of course we can do that. Yes

01:14:29.960 --> 01:14:31.340
You can or you have

01:14:31.900 --> 01:14:33.760
Uh, we haven't but we can

01:14:34.260 --> 01:14:39.780
we we this this platform the bridge was um, it's been in um, you know

01:14:39.780 --> 01:14:44.420
Planning and creation for months, but it was just put up for in less than a week

01:14:44.420 --> 01:14:46.480
Matter of fact, we tried to get it up

01:14:47.160 --> 01:14:53.120
And ready before this show. So we had actually a few days of testing before the show as well

01:14:53.880 --> 01:15:00.280
Um, but yeah, it's new and please. Yeah, any advice like that that would help bring more trust whether it's

01:15:00.920 --> 01:15:02.660
sharing the view keys or

01:15:03.230 --> 01:15:04.840
Again, I'm even willing to

01:15:05.470 --> 01:15:09.860
Uh, if if the xmr community can nominate, uh multi key

01:15:09.860 --> 01:15:17.220
Uh, signatory, you know, we can take on somebody else from the community that the community trusts that can be a multi key holder

01:15:17.820 --> 01:15:21.660
Um, you know to mitigate that risk even further. I'm all

01:15:22.220 --> 01:15:28.160
For open for any suggestions like that, but so I'm sure you're aware of the whole um, you know

01:15:28.160 --> 01:15:32.480
The fractional reserve practices that bianance as an exchange had engaged in against minero

01:15:32.980 --> 01:15:33.420
um

01:15:33.420 --> 01:15:40.360
Yeah, I think publishing the view keys is is an essential thing that you guys have to do to gain the trust of the minari community here because

01:15:40.900 --> 01:15:46.460
You know, just the fact that you know, bianance smart chain was an integrated and still is an integral part of the bianance exchange

01:15:47.100 --> 01:15:51.660
You know, we're very very suspicious of everything bianance related because of the price attacks

01:15:51.660 --> 01:15:56.540
They they did against us. So like feel like you really have to publish those view keys at a minimum

01:15:56.540 --> 01:15:56.580
Um

01:15:58.540 --> 01:16:05.180
Noted would definitely add that on a to-do list. Um, but also would like to add that even though

01:16:06.140 --> 01:16:06.660
Um

01:16:07.180 --> 01:16:12.380
bianance chain was created. It is a uh, uh, bianance creation. Yeah, you could say

01:16:14.580 --> 01:16:21.840
CZ himself, um, you know, optically tried to distance himself from direct bianance to bianance chain connection

01:16:22.320 --> 01:16:24.780
And I think that's kind of being kept that way

01:16:24.780 --> 01:16:30.900
And honestly, I don't think bianance team would have any say over the chain anyways

01:16:31.680 --> 01:16:32.280
um

01:16:33.060 --> 01:16:37.900
They do probably finance some development, but I think if they try to go rogue

01:16:38.480 --> 01:16:41.540
On the chain the node operators won't have it

01:16:42.180 --> 01:16:42.780
um

01:16:43.360 --> 01:16:45.720
And yeah, I think to a certain extent

01:16:46.380 --> 01:16:51.580
No, biann, bianance chain is separate from uh, bianance, um or

01:16:51.840 --> 01:16:56.980
Who are the node operators? It was my impression that that the actual node operators for the most part aren't published

01:16:56.980 --> 01:16:58.840
Or we should we should call them validators

01:16:59.400 --> 01:17:03.380
Yeah, of course. They are published. No. Well node operators they're

01:17:03.380 --> 01:17:08.580
Well, they don't need to be published. The thing is node operators have to put um, send down as, um

01:17:09.420 --> 01:17:14.340
Uh, a certain amount. Yeah, it's a stake. It's a depost system. The proof of authority. Exactly, right?

01:17:14.500 --> 01:17:16.980
Right, so they have to be in a lot of cases the validators

01:17:16.980 --> 01:17:20.820
They might be staked, but they're not necessarily published like we don't know exactly who they are

01:17:21.400 --> 01:17:22.260
In a lot of cases

01:17:22.260 --> 01:17:25.320
Usually what happens is there's 21

01:17:25.980 --> 01:17:33.640
Yeah, there's 21 delegators. So these delegators get voted on so they these delegators themselves don't hold the actual weight

01:17:34.140 --> 01:17:38.100
They they are required to put a minimum down to become a validator

01:17:38.100 --> 01:17:44.540
But the majority 99 of their weight is from voters. So voters delegate their weight

01:17:44.920 --> 01:17:49.340
To the delegators and those delegators if they have enough weight

01:17:49.980 --> 01:17:54.160
Then they move up the cheer move up the ladder and if they move up

01:17:54.700 --> 01:17:56.700
to all the way to the 21st

01:17:57.500 --> 01:18:02.540
Place or even higher then they make it they become a validating

01:18:03.180 --> 01:18:05.100
a transaction so there's a lot of

01:18:06.000 --> 01:18:10.900
Validators that are sitting on the sidelines because they don't have enough weight to become a delegator

01:18:10.900 --> 01:18:15.120
But the ones who build trust and the community votes for those delegates

01:18:15.600 --> 01:18:19.540
And current most delegates are actually platform operators like

01:18:20.380 --> 01:18:22.540
I think anchor

01:18:23.320 --> 01:18:24.240
venus and

01:18:25.020 --> 01:18:29.800
Few other so major actually industry players become the validators and

01:18:29.800 --> 01:18:37.400
They wouldn't want to go rogue on the chain because that would pretty much wipe them out. So I think that would be certain level of

01:18:38.080 --> 01:18:40.600
You know this thing or you know

01:18:40.600 --> 01:18:47.980
Not following finances command if you come if they if they're not operators feel like this is going to harm the network

01:18:47.980 --> 01:18:52.960
Yeah, that's a common security mechanism for sure that there's definitely financial. Yeah

01:18:53.680 --> 01:18:59.140
Like that definitely like so a lot a lot of chains definitely have a similar security map even bitcoin itself, right?

01:18:59.220 --> 01:19:02.420
Like the mining ecosystem is fairly centralized, you know

01:19:03.280 --> 01:19:05.480
But it's it's also it's the same case like well

01:19:05.480 --> 01:19:09.080
Why would they attack their own chain right that that harms their own financial interest?

01:19:09.080 --> 01:19:14.980
So, you know, there's a type of game theory there. Um, it might not be the exact game theory that was the intention behind

01:19:15.760 --> 01:19:18.880
Behind a lot of the proof of work proof of stake constructions. Nevertheless

01:19:19.560 --> 01:19:23.420
Um, you know, it seems to function. It has been functioning for a long time. So

01:19:23.880 --> 01:19:28.240
Hey, there's um guys, I don't know if I missed these super or I don't know if we missed these super chats

01:19:28.240 --> 01:19:31.480
Or if I'm just like behind the curve here, but I think we have two of them

01:19:31.480 --> 01:19:34.220
Unless you already covered them then then y'all, you know, let me know

01:19:34.800 --> 01:19:36.220
Talks I think we did

01:19:36.780 --> 01:19:38.440
Okay, I just wanted to make sure that

01:19:39.020 --> 01:19:40.480
Um, that we didn't miss them

01:19:40.980 --> 01:19:42.240
I must have missed that

01:19:43.140 --> 01:19:48.960
Okay, I think that um, let me see here. Check any other notes. Um, no, I think that's all I wanted to ask

01:19:48.960 --> 01:19:52.500
Uh, kush, I appreciate you coming back on man to entertain my questions

01:19:53.400 --> 01:19:55.580
Sure, no worries anytime. See you guys

01:19:56.280 --> 01:19:56.660
Thanks