The minaretopia guest segment is sponsored by cake wallets store send receive an exchange of narrowed
Bitcoin safely on Iosin and ray 2 cake wallet is open source, and you always control your own keys
Right kush, what's up, man? Yo, how's it going guys? Can you hear me? Yes?
Awesome great show by the way every topic was up my alley
I don't know you guys gonna need to get me on the show now and then cuz
Yeah, great topics great discussion. Love it. Yeah, it's an open platform
We welcome to join anytime we have our special guests, but then we also have at the end of the show
We do viewers on stage or anybody can jump up and talk so
Always welcome to join, but yeah, we wanted to bring you on today as as the special guest
You're you're one of the minaretopia sponsors in adoption alley
We we greatly greatly appreciate actually no do we have you on as a a full sponsor, right?
But I don't know. No. No. Yeah. Yeah. Yeah, you took a privacy tech sponsorship
Greatly appreciate that and so we want to bring you on learn learn about your product
I'm my understanding. It's more than just a
instant exchange
There's there's there's more to it
so what why don't you go ahead and
Tell tell me also bringing forest up is he
Yeah, of course, I think he's on the sidelines as well waiting to join us
Yeah
We guys awesome show. Thanks for letting me up
I think I'm gonna let kush take most of the lead
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
But he's definitely
Yeah, what is my wingman, you know, I take him to the clubs and everything, you know, you got my back
Show up to the party without your wingman, right?
You guys are a good duo here, so go ahead give it give us the give us the quick pitch on what it is
And I'm sure we'll get into it on a deeper level
Yeah, sure. Um
Um, definitely, uh, I mean, I well, let me start off with myself
Yeah, I've been in crypto
since the early days early
2012, you know bought my first Bitcoin when it was under 50 bucks and
Yeah, ever since I've been on this journey, you know, and I pretty much quit my day job and
Did quite well for myself in this
industry so
Yeah, eventually got a word of trading and wanted to build stuff and and
Being an early minor of Monero as well back in the days up
Should have kept most of it, but that's another story
But yeah, I mean, you know, I'm all about privacy and
Freedom and you know, I mean Ron Paul got me down this rabbit hole journey and
You know, yeah started going deeper into a
More into crypto, I like that whole cyberpunk concept and
Which you know, Bitcoin diverging away from
Since he got hijacked, but whenever the new cyberpunk, you know, so that's good. So yeah, I'm here to
You know fully supported embrace it bring awareness to it because yeah to me it's
It's the closest thing. I mean, yeah cat as you guys mentioned, you know cash is gonna get replaced and
And eventually it's you know, there's got to be digital currency and
As far as what's most aligned
with, you know, libertarian
ideologies and freedom and
Privacy it's Monero, you know, it's unbeatable. So
Yeah, we started our exchange squad swap
It's almost a year a lot of stuff a lot of
Building but now we want to use that platform to you know, show support for Monero bring awareness
And especially all these delistings which was great for me because I scooped up all those lips, but
But yeah, you know, we want to you know, we see that as opportunity pretty much, right?
Is Monero listed on squad swap right now?
It is matter of fact. We just got the
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
Tested vetted and you are improved. I mean you are still very minimalistic and because it's very simple function
It's kind of a bridge. So there is two parts to it, right? Because there's the wrapping part where you're bridging
Monero over to Binance chain and
And then you have the next part where you can, you know, trade it
Essentially
Yeah, so why don't we give a little little shout out to squad swap and what it is exactly kush?
Yeah, because I think a lot of people here probably don't know, right?
Yeah, definitely. Yeah, I think most people are just assuming it's just like an instant a standard instant exchange
But yeah, this is my first time hearing about it
decentralized elements to it
Go ahead first. I give him a brief rundown on what the platform is
Yeah, so squad swap is a dex and it's actually a multi-chain dex
We're currently operating on BNB chain arbitram base polygon blast and optimism
but most of our community is really on BNB chain and
What's happened recently is, you know, we've been we've been growing growing growing and
Obviously for us as a dex, you know decentralization is a cornerstone to anything that we do
On the dex you could swap very very easily between tokens and also farm
After you provide liquidity on certain pairs and even earn rewards from pools
So it's super cool. We've we've been super stoked because we've been
kind of rolling out new features that bring a centralized exchange
Experience on to a dex, right? So our slogan is actually better than sex
you know
because that's the that's the
Experience we're really looking for and we want to build tools for traders because because we are traders, right?
And yeah, when it comes to Monero right now you could use wrapped Monero on
BNB chain because there's been a group of devs who've set up a
Bridge between Monero and Binance smart chain
So you deposit your Monero and then on the other side you get wrapped Monero and on squad swap
what that means is that
You know, it's allowing people to trade pretty easily and also earn
Some more rewards, you know if they provide liquidity or even just by staking the squad token
They could earn some wrapped Monero, you know much like you guys were huge huge believers of privacy
And I think what happens, I'm sure you're pretty well aware is we kind of get stuck in these echo chambers, right?
And so what we thought with wrapped Monero is that this is going to reach out to a whole new audience of
of users and people who really want to access the
the
upside of the token I
Think your timing is obviously fantastic Monero is always looking for
new unstoppable on ramps and off ramps as
We're all saying Monero is getting delisted basically from every centralized exchange
So out of out of a pure need
something like squad swap really
Really could could help search server purpose in the community
How long has it been around? How long you guys how long is this decks been around?
Just under a year now so in December we'll be celebrating our our first birthday and
Yeah, I mean for Monero topia will be will be hitting 11 months. So we're excited, you know
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
Traders are what are most people trading swapping on squad swap?
Sure, we do have an aggregator. So, you know, you I mean if you swap on our swap, you're pretty much hitting
multiple
exchanges decks is simultaneously to get the best price impact, right? But we are trying to
We've been experimenting few use cases, you know and stuff, but we've
Well, just a little background
The whole platform began from there's actually a link at the bottom if you go to info and learn about
Rise of squats squats. Well, it actually it's an interesting story because
this it's a community project that was the started from
NFT collection called Pancake Squad
NFT collection and that was created by Pancake swap. So that was their original NFT mint
They did they've supported
IFOs and you know, if we use them the squad collection is
Your profile image or earn points on Pancake Squad
but eventually the community
You know diverged and because they didn't feel like
You know, they were being appreciated or
Enough utilities will you know weren't being delivered or actually nothing was being
Down for the community. So community said, okay, it's good. We'll just start our own decks, right? So
And here we are down a year later
You know, I kind of lead the project, but it's really a community project that was started
So we do have a use cases
You could take any NFT and wrap it into a
New standard I forgot
the ERC number for it, but you pretty much oh, it's a 404
So it's a DN 404 standard which pretty much tokenizes your NFT
So you could take any NFT you wrap it into a token and now you could exchange it on any
Decks uniswap squat swap, whatever so you can tokenize any NFT added to the farms pools
Provide liquidity, you know, it gets treated as a pretty much any token
So we were the first ones to create a universal NFT wrapper
We're bringing
If you actually go to our main page and click on advanced mode
We're bringing
Yeah centralized exchange feel to a dex. So it's actually using the same engine same contract same back-end
To provide centralized exchange like a trading so you can do limit orders braid orders. We're adding all kind of new
Features as well down the line and we will be pushing new updates. You are updates very soon, which
Drastically improves a lot of things right now. It's still early beta
But yeah, the idea is to have a decentralized exchange where you're still historian of your funds and everything but
Your experience is no different than a centralized exchange. It's actually much better because you get much deeper
liquidity much, you know, we will have more
Built-in bots so you can execute, you know
You're even your own custom made bots or in-house mid-made bots. So it's really gonna be a
Nice hub for traders, whether you're a
Beginner who just wants to do a simple swap or you know, you want to do some
advanced trading charting the body and all that jazz but
And as far as Monero, we do have in that advanced menu where you know on centralized exchanges
You have the pair section whether it's on the right or whatever
We will have XMR pair section. So there will be a section
of you know pairs strictly on their XMR category and
We'll try to bridge over other
layer one coins
maybe privacy coins as well down the line whether it's
You know Xano dash whatever you might be but if they do they will be primarily tagged against Monero because
We see that as you know as far as
privacy coins go
Monero's the kings
Very cool. Very cool. So practically speaking for somebody who wanted to use squad swap perhaps as a way to obtain Monero
Sure, like real Monero like what would be what would be the steps that they would have to go through
What would be the easiest way for them to get into Monero using squad swap?
of course, so we have a
well the
The bridge creators the death team were very close to him
You know I've known him again since the earlier days 2013 14
These are the one of the most and in this space you really
To bring go trust credibility, you know, it's not about being doxed. It's about actions and time, right? That's what takes
That's the main ingredient to bring building trust and credibility. Well, we're working with such a team created a multi
Signature of wallet to create this bridge system. So if you go to xmrrap.com
I
Think I'm gonna check myself. I want to make sure I'm giving the right but yeah, I should be XMR rap
Samar
So there
May have lost hello. Hello. Yeah, it is XMR. There we go. Yeah, hello rap dot com
Yes, we got you
Okay, so yeah, that's the side. It's actually much simpler to use than
Standard bridges people are used
in used to using
What is the concept?
XMR rap calm
Okay
So you wrap your XMR
Into a BNB BSC token and they're gonna add support for other chains as well down the line and other
Layer one coins to be bridged, but XMR is the first one. So
Yeah, you go to XMR rap calm
Just enter your
You know wallet that BSC address that you want to deposit your XMR to
Soon as you click register, it'll give you deposit address and from that day forth
You don't even have to go to that website. You can XMR rap calm not wrapped
Yeah, wrap not wrap. Yeah, I sent it in the private chat if you want a
Rap dot com
Okay, got it. That's it
Yeah, go ahead. Go ahead. So yeah, you just enter your BSC address click register you get your
Dedicated deposit address
Right now it's static. We are gonna make it where optionally you can choose a new address each time, you know for increased
Anonymity, but yeah, right now you get that address and
As soon as you get your address, you don't even have to go to the website anymore
Anytime you you want just send any amount to that address and it will get deposited into your BSC address
And if you want to honor
Yeah, and if you want to unwrap
Just go to the website connect the wallet choose the amount you want to unwrap the destination XMR address click transfer and
Transfer goes instantly
Into your wallet deposits will wrapping will take some time because we do require I think minimum is three confirmations
Three to ten will adjust that but yeah
Just for my understanding because I honestly I know I never used rap Monero
So for somebody who wants to obtain Monero, right? They would go to your decks. They would trade some other
Crypto for rap to Monero, right? Yeah, simple enough. That's just like using a instant exchange
They'll get their rap to Monero and then they would take that back to something like
XMR rap comm and then they could
There they can turn their rap Monero into unwrap Monero, correct? That's right. You can test it right now
We have about I think close to 40k
Liquidity but our the goal is to get that at least quarter million before Monero
Topia and by the end of the year we should have about close to a million concentrated
Deep liquidity for Monero
But yeah, it's pretty cool. Who runs this XMR rap comm is that you guys as well or?
Well, it's um, it's our peers great devs like I said, we've known him for over a decade
we've done
Huge amounts in group buys transactions escrow
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
but yeah, we we try to stay anonymous however the
The bridge wallet you could say that story and wallet is a multi-signature though. We are
Aiming to fully decentralize the bridge even the domain. So even the domain website
we have we're experimenting with
You know new ways of it. So even if the front page is sees taken down whatever
Well, it can't because that domain itself the TLB will be decentralized as well as the back end
It will be running on a decentralized nodes
including the
Monero wallet itself, you know, okay, okay tucks. Have you ever messed around with rap Monero?
No, I've never used
The Binance Smart Chain so well, let me give you guys some history on this. It's actually Binance
One CZ was running the show in her earlier days
And this is when you actually the the earlier signs that Binance is about to be taken over shown was
It wasn't really that the least thing because Binance officially was supporting
XMR rap version on Binance chain that actually had Binance peg XMR
They just pulled that they
Decommissioned it eventually I saw I was like hmm something's up because even the doors, right?
Like if you see like there's official doors wrapped version on all the chains
So who's you know, who's the official pegger, right? You've got it asked
So I believe the current version is still Binance peg door
So even like if you go to yeah, if you're trading on a pancake swap or area, you know
Doing loans on VXS, you know, like this huge
Platforms and you know even on Ethereum you're trading doors. That's obviously a wrap version of doors
That's not the real doors, right?
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
But they're supporting those rap version, but they pulled the plug on the XMR. So we're just kind of
Taking over where they left off, right? Yeah
Yeah, I mean, I think I think you'll definitely see some some demand
Like I said, people are always looking for new ways to get in and out of Monero in a KYC freeway
You know, you know kind of unstoppable decentralized way
So, you know as you continue to develop this this tech in this platform and
It it it works right now today, right for somebody that wants to effectively get in and out of
Yeah, like you you have the page open if you go to like
Click earn tab go to forums you can actually earn. I think the APR at the moment is
Close to 30% or something you can actually
Yeah, 30% APY
APR just providing XMR liquidity
And we'll adjust this as needed as more LP increases to keep the APY high. So
Okay
Very cool very cool. So wait, what what can you earn? Yeah on rap Monero right now?
So so by providing liquidity by providing I think the pair is Monero and and is a BTC
No, it's BNB a Monero and BNB Monero and BNB liquidity
Then you could earn about 30% in the farm by providing
liquidity and then staking your LP tokens in
The farm and not only that we also have pools, right?
And so these are generally for squad token holders and it's a way of like
onboarding
You know our community into different tokens and and different giving them exposure into different
Worlds and so if you go up scroll up, you'll see the pool tab
Yeah, if you keep scrolling up, you'll see pools next to farm or
Or liquidity a little higher little higher
They're little high
There we go
And so now if you scroll down to the bottom of this page, you'll see no
people to
To earn wrapped Monero by staking squad and so, you know, this is our way of onboarding more people into the community, right?
Yeah getting eggs and marring two more hands pretty much what what what are the risks involved, right?
I mean, you know earning 30% sounds sounds amazing kind of like a little too good to be true
What are what are the risks that come with doing something like that? Well, it's 30% because the liquidity is still low
I mean as the liquidity increases that APY will decrease or you'll probably stabilize around maybe more of about
5% I'm assuming but again
Yeah, if the volume is good, then yeah, that could definitely go higher than 5% it could still go above double digits
It all depends on the volume after work
but yeah, it's still not bad and
Yeah, they're all they got to do is wrap some XMR provide liquidity and start earning
You know and you could even count compound sell your earnings buy more XMR added to the LP or
We draw it on rapid to your
Wallet and keep your XMR in a you know safe place
But as far as the contracts on the platform
We are
audited by top companies. There's two we use Cyberscope and also
peck shield which
did
Which is the team that company that did the auditing as well for pancake swap and
you know, they pretty much been
hack
Hackproof and you know knock on wood. So we had so have we
But yeah, the contracts are there. They're open. They're audited you guys, you know, anyone is open
welcome to
Audited themselves check it out and
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
but
Yeah, I'm not the I would yeah, honestly, I would say the weakest chain in the link would be
At this point
You know, again, it's not like I want to I don't want to put scare people off
But yeah, but it would be the bridge
Yeah, but again, there's steps already in place to mitigate any high risk
And we're also putting more steps into a matter of fact, you know to mitigate
any potential risk by completely decentralizing the bridge as well not just from
you know from even ourselves and from
Authority and from hackers and you know all that just but yeah
I mean, we know we're all school. We know what it takes. We know the
Optics of things we know that you know, this is
Crypto community at least
The OG group, you know, they they drill down. They like to ask questions
They not they like to see where the weak points are versus the new generation of meme coiners and price go up and
Ra Ra Michael Saylor, you know
But no, we're trying to keep it, you know truth of the core, but
beautiful
Nee he list I guess Neil list doesn't tip to dollar 23
Very glad to see more decentralized exchanges pop up stay ungovernable folks
Thank you very much. Yeah, we are always excited to see more
Unramps on off ramps to Monero tip tip 25 cents. How long?
Do I have does it have to be wrapped staked for and for are there for any limitations?
I guess something like yeah, are there others
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
No, there's no time limits expression as on anything. It's all up to you
Yeah, you could you could wrap an unwrapped
You know, yeah, you can be in and out
You want him if you want to make a lot of this trade
Yeah
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
People in Monero, you know, we all we do is use crypto Monero for trading peer-to-peer as digital cash, right?
Like there aren't a lot of
You know
Dexes around for Monero. There's not a lot of ways to do DeFi with Monero
So I don't think there's too many people out there who have even done like the rafts of Monero thing
It's been around for a while
You know, I know the pain and I was just fortunate enough
Well, we were fortunate enough to be in a position that you know, we saw the writing on the wall
We saw these did these things we saw
You know, and I mean, you know, you can't even check my tweets
You know, I tweet about this stuff and I you know, I even say one day
There's gonna come a day where all these Bitcoin maxis are actually gonna attack the Monero community
They're actually gonna work hand in hand with government entities to take down Monero because in reality
That's the you know, it's the real threat to Bitcoin. I mean Monero is what Bitcoin was supposed to be
I mean, we all started with Bitcoin. Yeah, we knew it wasn't anonymous
But we knew there was a you know ways of you know going taking anonymous routes, right? There was mixers just
No custodian
KYC custodian Wallace nothing, right? So it wasn't that much of a concern
You know, but right now it looks like
You know, it's funny to me also, you know when people say oh Bitcoin is the most decentralized and no, you know
It's not there's actually two or three people that manage the you know, the main two three pools
That have over 51% of the hash rate and these are already factories warehouses under government regulations
All it would take is a government to say hey, you know, you're not gonna
Allow any process any transaction
That you know, it's not a whiteness that address or KYC that address something right if you don't follow this
We're gonna shut your facility down, you know, and it's only two three
Oblige, you know, then that's it, you know the screw your decentralization, you know, it's all gone
It doesn't matter how strong your hash power is go ahead
I was just saying Bitcoin ever 50% of the hash rate, isn't it like via BTC found your USA and ant pool
And that's like the majority of the hash rate on Bitcoin
Yeah, pretty much, you know, it's also funny when they're like, oh run your own full node help decentralization
No, you're not you're just running resource for no
No parent reason whatsoever because you're not helping anything minors and that's the thing
You know, they I mean the whole
This new era of Bitcoin maxis, you know, they're just I don't know
They're just blinded by a numbers go up and even the numbers, you know, there's not much room to go up either
Well, you're gonna go up four or five ten times, you know, it's more crypto with a XMR has
20 times more potential than that if not more, you know, but it's not even about a numbers go up anymore
I think it's a trap at this point pretty much. I think it just
You know, look black rock and Larry you think, you know, these people are not stupid
If they're shelling something that means they already bought, you know, when they were hating on bitcoins, they were they were buying
You know, now they're down buying their shilling. So what they're doing is, you know, oh ETF great
So what are we gonna do? Oh, let's do this
Let's take every baby boomers money that they put in their life savings in their retirement and stuff
And then let's start buying Bitcoin and pump, you know, black rocks Bitcoin up and then we're gonna crash Bitcoin
While we cash out we're gonna blame crypto and Bitcoin for baby boomers losing their own their life savings
And then they're gonna go after government begging for more regulations. So crypto won't do this to them anymore
And they win, you know, they cash out at the top. They blame crypto crypto loses. They gets regulated
I mean, it's such a simple plan. It's genius, you know, I mean if I was the evil genius billionaire Larry fling
I would probably do exactly that but
You know
You fit in very well around here, my friends
Stop by anytime
You're speaking the language that we often speak around here
You know the noobs out there, man, they're getting fooled by people like sailor
Like you said, even the number go up narrative is kind of silly at this point, right?
Like yeah, number is gonna go up
But you know, you're not gonna thousand X from here for for Bitcoin. I mean
maybe in a couple of centuries, I don't know but
You know, it could only double so many more times
So even that narrative is a bit silly
like you said, it's really just about capturing the people and then
being able to
offload their profits
Right, right. No, you guys are gonna hit it off at that event. I think
Cush definitely definitely speaks the language. Oh, yeah
Sorry, go ahead for us. I think I was just gonna say I think that's why he's cushed is actually
You're the real bridge in this situation
You know what I mean because you're gonna be able to speak the language at the murder event
But then at all the other events that we go to, you know, when it's maybe it's East Denver or, you know
I was just at an avalanche event in Argentina
you know, it's really important to
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
connect
Yeah, and from a Monero perspective too, right?
Like I said, a lot of Monero people are looking for new on ramps off ramps
But this also becomes a great way to introduce the the DeFi community to Monero, right?
so there's those that really, you know, haven't really gone down the rabbit hole of
Figuring out why privacy matters why crypto needs to be fungible
But maybe as they're playing around on squad swap and they're trying to, you know
Just just just make a dollar no matter what form it comes in they eventually
Stubble on stubble upon raft XMR and start learning about about it that way
What's that yeah, I was gonna you you hit around the
Nail on the head that education
Is one of the things is which trying to bring?
Through squad so up as well
So if anybody and this education can go both ways we're educating our community about XMR and yeah
XMR community probably needs to be educated on you know, decentralized exchanges and you know
Welcome to join our telegram channel. We have
people even community members just
Anxious to hold hands help people out introduce our actually communities very vibrant
very down to earth
If you like my character, you know or for us you're gonna love our community
so it's it's great place to be on our telegram and
You know, we're gonna introduce actually mining
Monero as well, you know easy JavaScript so anybody can run from any
Device provide this to our community so and people can get involved in mining Monero as well
But yeah, I mean look I I'm not even sweating about centralized exchange delisting. This is actually
You know
great opportunity
guys for
for the whole XMR
Ecosystem because you know who look at centralized exchanges are gone. There their time is limited. There's they serve their purpose
You know
Every giant falls. I don't know if you guys remember back in the days, you know, the AOL
Binance well the old OG binance what used to be?
Polonics or B tricks, right? It was that that was was the exchanges to get listed on if you're listed boom
You made it, right? Where are they now or you know gone the same thing is gonna happen to Binance, you know
I wouldn't even get excited like, you know, our community is like, oh when Binance listing, you know as far as our tokens
I'm like, I'll go with the flow. I entertain them
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
Legal stuff you got a jump through and all the fees you pays garbage. Why when two years down the line?
They're not even gonna be here. There's already
Decentralized exchanges that are operating, you know, the UI is mimics completely
You know centralized exchange. So why even put your funds let something central authority be the historian of your funds
No, I just go to decks and and the way we're trying to build our decks is to really give people
Web 2.0 experience when joining, you know, it's we're trying to make it simple with the
instructions with the UI so when
when people
Try to use our platform, they won't feel like oh, it's a new web 3 crypto thing
No, it's just like signing on to our Facebook something, you know using it a native web 2.0 app
So of course, there's a learning curve through everything, but it's not
Complicated and if there's questions, we're definitely around, you know to help out and we will be putting out more
step by step, you know step by step or instruct you how to instructional videos that, you know
You know goes over specifically each function each procedure or all the great features we have so
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
So just a task
The risk of
Putting your Minero into Rapdex and more you're relying on this service that's hosted by a party
Let's say the service shuts down because I don't really know how my smart chain works
So I right. I don't know what the guarantees are here. Let's say the service shuts down
You can't unwrap your Rapdex MR. What are your ways out at that point? Can you still swap your Rapdex MR for another?
BSC token
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
It actually the way it works is once you
Bridge over the contract means
That exact amount of XMR you bridged over when you bridged out that exact amount is destroyed
So the amount stays, you know consistent on BSE side
To what's exactly in let's say the hot
Wallet, right? So what you're really asking? Yeah, well you actually asked it pretty clearly what happens to the
XMR so what happens is
Yeah, the rap one you can still trade but you won't be able to exit how till
Let's say the new UI comes up, right? So there's a
failsafe procedures in place just in case the
Interface gets taken down or you know some authority
ceases whatever
There's bunch of onion links whatever we can provide that will provide you interface to the back end
So they can take the interface down the back end
they'll never be able to take down and you could actually interact with the back end without even a
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
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
Small VPS sessions
In a decentralized fashion, right? So you got redundancy within let's say 21 nodes
Running your VPS session. So all we need to do is offload
The back end onto one of those services and actually multiple services then at that case
At that at that point. Yeah, nothing's gonna take down the bridge either. So you can always bridge in and out of
your XMR
Okay
But we are still relying on
Some party to provide the liquidity for unwrapping, right?
I'm liquid it is provided by the people. So what you see over there is actual liquidity. So it's not like
So that 40,000 worth of LP is 40,000 worth of
XMR that's being bridged over using that bridge in order to provide LP
So right now if you go by let's say five thousand dollar worth of
XMR from the you know from that pool
Well, five thousand against 40k LP. It's gonna give you a nice price impact
But you'll still be able to buy it and then go to the XMR rap unwrap it send it to your wallet
You're out in and out, you know, you know, you don't you don't have to stay in the rap mode
You know, you can be in and out, you know mitigate the risk
But for now, this is at that stage where again, it's not different than any other
Project or even some change, you know, a lot of them pretty much the back end is still controlled by
Multi-signature, right? Let's say
Three out of five signature control even chain link itself, right? There's a few people controlling the entire
platform
That controls billions of worth of finance, you know in the multi-sign
But it all comes down to whether those entities are
Trusted and they will or if they can collude at this situation in our situation
That's a very unlikely situation, you know, minimal risk. It's still
It's under multi-sign
None of these people will have incentive to steal this money being that they've made their wealth already
So a few thousand or million is not gonna even put them in the
To even consider such a thing and even if one considers again, the other two will not the blush
So it's not gonna work, but this is the initial steps. However in the future, we will try to
Also offload the hot wallet in a more decentralized bowel controlled fashion. So it will not even be
You know to mitigate that human factor risk as well
Um
Yeah, make big Macbeth tip 20 cents
Does the rate that you start the staking at stay the same until you un-stake it or does the rate change lot?
Example 30% now until you un-stake or 30% today, but tomorrow 10% to 25% without
the the way the
Dexas work the APRs are in
Every block it recalculates
The APR based on the amount of liquidity. So if it increases the next block, it's gonna recalculate and
It's gonna reduce the APY
APR if you remove the LP, it's gonna recalculate and increase the APR
So the more people join the more it reduces, but we do have the ability to you know
Increase the multiplier on the back end. So if it drops too quick
You know, we can always increase the multiplier to give the this to keep the APR
Juicy matter fact our plan is to keep this APR
Juicy at least till
Monero
Topia or you know end of the year
But if again if traction picks up volume picks up then you know the APR would also automatically increase on its own
So just to be clear this this number right here on the rap XMAR page of able XMAR for unwrap
This is Monero that has essentially been deposited into a multi-seq wallet
That people have so I did to get wrapped XMR minted on BSE, right?
Exactly matter of fact, that's one of the suggestions I sent to the dev
I told them to remove that because that's gonna confuse users thinking that's their balance
But yeah, that should be somewhere on the top showing total amount that has been wrapped over onto BSE. Yeah
Did we answer short waves question shortwave tip 25 cents, how can I take like US DC loan with exit with wrapped XMR on
something like of
I don't know does can you guys make sense of that question?
well, I mean you can't you
There's landing platforms like VXS on
Venus
Venus finance, I think it's called on by nice chain
But you can only land and borrow against tokens they support so they don't support XMR
That wrapped XMR yet
But if you want you can I don't know if you can take your XMR sell it for I wouldn't do that
Sell it for something they support and then land it earn take the earnings by XMR
I don't know, but yeah, it's up to them. Maybe down the line. We will also deploy who knows landing borrowing platform
We like building things anyway, so but yeah, maybe down the line, but I don't think there's anything
Well, I'm sure there's anything that supports
This version of rap XMR yet, but if it becomes you know, if it becomes popular against volume liquidity
Yeah, definitely. There'll be platforms that would want to support then, you know
Leach off that volume and liquidity
All right, all right, all right
Sorry, I have one more question go for it. Yeah, how does the discrepancy between the state liquidity and the
Available XMR to unwrap on this
wallet
Workout because I can see people depositing Monero to get wrapped XMR
and
Then they stake it on the XMR farm and they earn money. There's going to be more
air quote
Available wrapped XMR value
No, yeah, so definitely there's needs to be our forest. Let's plan to have another session
Just to go over the basics on some decks
Functionalities I think yeah, I get this a lot. So I think people
Need to learn the basics of how
A standard decks like uniswap forks work, you know, because they're all pretty much just work the same way
And we are also uniswap work. So is pancake swap. So is anyways
So when you provide a liquidity
Yeah, you're providing both sides, right you're providing let's say you're providing BNB and
XMR liquidity so you the value of both in USD
Has to be the same so you have to provide let's say
Let's say you're doing a thousand dollar worth of
Liquidity you want to provide an earth so you have to provide a thousand dollar worth of
XMR and thousand dollar worth of BNB
So, you know, you create this 50 50 pair that becomes the hundred percent of your liquidity
So now you provided liquidity
So what happens is this is where your numbers could change soon as you create that liquidity pool
So now you provided 50 50 pair. Well, what happens?
Let's say if somebody buys
25% of the liquidity pool, right that means you're gonna have
By 25% XMR from that liquidity pool. Well, you're gonna have
25% less XMR, but 25% more BNB, right?
Because that was the offset that was the trade. So at that point if you remove your LP
You're gonna have 25% less XMR, but 25% more BNB
So technically value is still the same
I mean you can go sell your BNB and you know buy that XMR to make up where whatever you want to do
But that's how the system works. So
But and this and this is how you pretty much I mean the value technique, there's
Things called incremental loss. You can look into that as well. That's the last people
See, it's not really lost, but it's more like missing out, right?
Let's say if you didn't provide the liquidity pair, right?
You your XMR was sitting by itself and your BNB was sitting by itself if XMR price
doubles, right? 100% it goes up
You know, what's today 150 it goes up to 300, right?
Well, if you were sitting on the sideline your yeah, your XMR is gonna go up to 300
But if you were if XMR goes to 300 at a time you were providing LP
Well
Yeah, your LP's value is gonna go up because XMR value went up
But you went up slowly as people were buying it. So when you remove it, you're not gonna get
a the
The exact amount of XMR that equals to the value you would have had
If you would have just kept your XMR, it's
Too long of a subject. Yeah, right now, but yeah, definitely these are the basics technically
You don't lose out. I mean again, you just get the other side of the pair
And yeah, if you go buy your XMR back
You still have your original XMR plus the rewards you earned from the platform
It just that this is the quote-unquote risk of providing LP is that you're now you're a market maker, right?
It's no difference than going on a centralized exchange that provides
You know
liquid
rewards for
Market makers, right? So what you have to do to earn this reward as a market maker
You have to provide liquidity on both sides on the sell side and the buy side
Well, if that coin does good or bad one side is gonna get eaten up
Right. So the market maker is left with more on this side and a little bit less on this side
same thing on the
decks
Same exact thing. You're just being
You're being given rewards for being a market maker
So liquidity providers are nothing more but a market makers. It's just that automated market maker
Hence the term AMM. Yes. I see. Okay. That makes it if I may hop in real quick tuxedo
I think you know, I
Kush was explaining really the mechanics on on how decks works
But you know, what I'm understanding from your question is your concern of this inflation rate is printing rap
Monero and then if people have more rap from an arrow then that's gone in. How are they gonna take it out, right?
Well, just to give you an idea with the wrapped BNB and rap Monero farm
The token that is rewarded is actually squad. So it's the native token of our debt
Okay, right question directly and then in the pool, right where you stake squad and earned wrapped Monero
Yes, that does have an inflation rate
but what we're doing is we're actually bridging Monero and then
We're taking that wrapped Monero and using that as the as the token in the reward pool and distributing that
So it's not like it's not like they're printing wrapped Monero on one side and only a hundred Monero
Tokens have gone into Binance Smart Chain, but now there's a hundred and ten
wrapped Monero
Tokens on Binance Smart Chain if everyone tries to exit it wouldn't be possible because there isn't enough in the bridge, right?
But no, we've we've made sure to cover our bases with that, right?
Yeah, Monero always stays one to one again if it's minted
It's created when it's exited it destroyed and yeah, I guess you're right by time
I got to the point I forgot the point for us. Thanks for bringing me back
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
You're earning squad token is part of the dex's reward mechanism. So yeah by providing XMR and BNB
liquidity and being a market maker you earn rewards, you know, so
current rewards are at 30% rate
So enjoy
Let Michael get his follow-up question here and you guys may have kind of indirectly answered
Will the APR payments be 30% of the Monero or 30% of the dollar value of the Monero slash crypto
It's the dollar value
Of XMR of your liquidity pool you provided
But that dollar value reward is in squad token
Mm-hmm. Mm-hmm. So so yeah, you put a hundred dollars of LP. You'll get you know
$30 back by the end of the year, but you're getting it in a token that's squad
Which obviously the price fluctuates. So hopefully by the end of the year that that $30 will actually be worth
$300,000
At some point during the year you approve. Yeah, I mean, you know, maybe next week who knows, you know
Anything's possible, right?
Yeah
but yeah, I mean if to
theoretically if you want to see that exact
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
you know, I'll
Score that but yeah, if you withdraw, let's say once a day sell your squad
For you know USD that's exactly what your APR is going to be
But you know, if you don't sell your squad, maybe you think it has more potential and then you know, then
You know, you sell it the year down the line when the price is up
Then yeah, you're gonna see more appreciation, but also there's a risk price to go down
So let's not beat around the bush
Yeah
accrued interest in squad and
swap it with like USD
Let's make it more fun. What you can do is
Provide XMR BNB liquidity earn squad token. Take that squad token into our staking pool and
Earn XMR token by staking your squad token
So staking is not providing LP. There's no risk in staking. You just put this
It just locks your token and then provides rewards, you know in return. So yeah provide
You know LP for XMR by doing so your earning rewards. You're helping the ecosystem
You're helping the XMR, you know liquidity pools grow
And in return you earn squad token and you can compound your earning by taking that squad token and yeah
Staking with it and earning more XMR and then take that XMR create more LP added to the LP to come back
Alright, I'm gonna stop
But that's the fun of DeFi, you know, we're all here to just cycle coins around and earn more of them, right?
So the people come out with real use case for this thing called crypto
Yeah, I'm
I'm not in the
I'm not really in the Ethereum space. So all this is kind of new to me
So sorry if I had some very newish questions and also just being able to make money, you know immediately raises
Sure, I mean honestly buying a chain is a great place to start because their fees are so low and
This is how I got on buying that chain personally, you know, I mean, yeah, I could afford the fees, you know and stuff
But when I first wanted to learn about this, you know, when uniswap first came around
You know, there was a lot of forks, but it will cost arm and a leg just to you know
Provide LP and this on Ethereum. So I'm like, okay, I gotta learn this but you know
But I don't want this cost me thousands. So I tried buying a chain and each transaction is less than five cents
So, you know for me was you know at that point
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?
Oh, yeah, it's pretty much identical. There's some difference in the consensus because it's appeal
It was proof of stake first they were doing the first proof of stake and I actually was multi layer
They were using
Cosmos a chain or a fork of Cosmos chain as their consensus and then they
Well, I don't want to dive into it. But yeah, it's a pretty much exact fork of
Ethereum if a certain contract runs on that it's gonna run and
Buy an S chain. So if you want to learn, yeah, if it works here, it's gonna work there
So if yeah, if you want to learn it's best to learn on you know on this chain because
It has the highest. Yeah, it's not just cheaper, but you know, it really has the highest volume highest transaction. So
you know
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
But honestly community is great, especially ours, of course
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
Again, it's really once I the concept clicks in your mind. It's very simple. You know, it just yeah
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
That last file question for me, sorry, like no, this is good
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
DeFi. No, I mean, I haven't been in the DeFi stuff that much
I've been kind of primarily Monero just like most most people like you said if somebody wants to
Try this out. What what wallet do you recommend for somebody to use for BSC?
Well, again, go to my wallet for people is metamask. I would stay away from that
That's a government surveillance systems by agency and they actually can oh really they have they have access to your private keys
It's in their eola. If you read their agreement, it says it they can have access to your private keys
So stay away from metamask
There's a you know, but the one I personally like to use is safe pal
Though it's a Chinese company
But I really love their hardware wallet and they have hardware and software wallet
So, you know, you don't have to have the hardware wallet
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
But yeah, again, you can I don't know for us what your favorite software wallet to use
But we only support ethereum and polygon we don't support BSC so
Yeah, definitely, I mean especially if you guys aggregate through other, you know swapping the platforms trading platforms
You know, if you click in yeah, hook into by Nash chain, you know, you probably have access to our liquidity as well
To aggregate through or you know, or we can aggregate to you guys in a way, but yeah the cake wallet
Yeah, wouldn't work right now, but I use safe pal. It's work, you know simple just
You'd have a browser extension. You can use that one, you know, just generate an address
Make sure you put a proper long password on your wallet. Yeah, just simply connect and that's it
You're set to go. I mean you can start interacting with the site. I guess first thing would do is
Go to the bridge site just sent over
I know point one XMR if you want
Bridge it over see, you know see work and if he wants to bridge goes through maybe you want to send up one whole
XMR and then
Start with that at LP
Start earning rewards. Take your reward put in a staking pool. See how the flow is flow goes and understand
Mechanics and then you can you know unwrap see how unwrapping goes how it, you know quickly receive it and
Yeah, if it works smooth, then you can you know, we want to
Going with the bigger amounts go ahead, but I would say at least
Till
Monero topia just test with small amounts because we're also still testing but
Afterwards, I would say yeah, we'll remove the beta tag and it'll be more much more
You know tested and rigged and ready to go. So at that point
You're more than welcome to bridge any amount you want, but right now just I would say it's more of a testing
Interesting
All right guys
This is great fantastic. Thank you guys again for the sponsorship for the privacy tech sponsorship for Monero topia greatly appreciate it
Very excited to be hanging out with you. Are you guys both coming down or is it just gonna be?
Cushed as far as coming as well. Yeah
Fortunately, we were
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
But what actually one of them is single, but yeah, of course, then I will be joining you guys
We'll bring some goodies with us as well
Yeah, we've got some nice handouts
Probably like Monero key chains and stuff to give out, but yeah, we'll bring some goodies with us as well
David is saying he's going to try after lunch. All right, so we think we got we're gonna give a shot
Excellent. Yeah, and don't forget to get my XMR off Konami wallet. Oh, okay
With drawing to cake water. Yeah, there you go. There you go. Yeah, and actually that's what I use cake wallet
I send it from cake wallet to
XMR rap go from there and work smooth
So there's a little bug with the cake wallet as well
With the cake wallet, I need to submit a bug report on that one
Maybe it's just me. I don't know if I go to coin control if I go to coin control and
specify a specific
You what is it you XTO, right?
And
Then I and then to send out specific amount from that selected
XTO then when I present it pretty much error
Doesn't ever give me error, but just the app closes
But if I don't if I just select that you XTO, but our own change the amount
So I leave the whole thing it works
So I know probably many users don't go
Go down to that level when using the wallet. Yeah, definitely not for Monero
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
Yeah, what I'll do is I'll just capture the video of how exactly behaves and I'll send that a one over
Awesome. Thank you
You were saying you was called safe pal somebody's asking the name of that wallet safe pal for
Yeah
And then XMR cash is asking how about adding pirate chain to squat swap
Yeah, you got a pirate chain fan that wants to have pirate to squad. I don't know that is that on your
pirate adding to squads up adding their token point or
standalone
Yeah, I know pirate chain I've heard of it
I think I know a few guys from the community, but yeah, I know this they're on chain
Are they're EVM chain if they're EVM chain?
Yeah, no
Forget
But yeah, we're willing to down the line add more
Layer one points with this bridge that community demands, but right now we're sticking with XMR for now
Right fellas. Yeah, any last words before we move on we still got a big show ahead
We still got price report viewers on stage. You guys are welcome to stay along obviously for the entire show
But yeah, if you want any any any last words when you have stage right now
I know I was just gonna say, you know
Follow us on Twitter and join the the community and telegram
So if you have any questions, you know, we could be there to help and no
we're looking forward to seeing you guys and meeting everyone in Mexico City and in a couple weeks basically, right?
So it should be should be a great time. Oh, yeah. Oh, yeah, I can't wait for those tacos, man
Plenty of tacos brother. It's nice to see you guys down there
All right. Yeah, and don't forget to stop at our booth for some goodies and
Yeah, well, thanks for having us guys
Yes, fantastic. Yeah, you're welcome to stop in on the show anytime and very much looking forward to hanging out with
you guys down in Mexico City of Monero Topia and
You know, thanks for the sponsorship and for, you know being open and providing the community information
Everybody definitely appreciates that and I think like we said, there's not a lot of
DeFi users in the in the Monero sphere. So this is this is a good bridge into DeFi for those that are into Monero
So I appreciate that
All right
Yep, cheers guys
Thanks so much. We will move on. We will do price your product. Let's get body up here
All right, but he's probably
Waiting, let's yeah, but bodies regretting now that he didn't go first. I think
Let's do it
The Monero Topia price report segment is sponsored by
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What's up, buddy
Oh, it's good man. Just enjoying the show interesting guest interesting platform
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?
I dabble, but it's more like
It's normie dabbling, you know, I'm just like
Occasionally trying to buy stuff that I think will go up in value
But I don't really do like the meme coins. I don't I'm not hardcore into the DeFi stuff
It's mostly that I just use it
Um, like the big headline items, you know, like the stable coins
But are you like are you staking and like you're trying to earn, you know or an apr on your
I've always I mean at the risk of um, you know, I don't want to
Be too negative Nancy, you know considering we just had the guess
But my personal strategy has never been to do all the staking stuff
I feel like that comes with significant amounts of risk
And crypto goes up by such massive amounts. I mean
You know, like my strategy is hey find the moments in time that you're going to make a 2x, you know 5x
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
So I always felt like why am I going to be staking with high risk for 10 yield or 20 yield?
When I buy something that's that's probably going to go up like 2 3 5x
Yeah, like especially for manero right now where it's at. I feel like you're better off
Um, but then a year just holding that manero and manero
Now I I'll probably try it
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
Like Doug was saying
I'm a manero person. I'm not in the d5 slash web 3 space. So all this is pretty new to me
Uh, interesting to see manero offerings on there. So might just check it out
Maybe put some money in there to see how it works
Yeah, I I kind of wanted to ask them why they why they chose b&b is their platform
Um, like all the bad if I might if I bring them up again real quick just to give them a
I hope sure. Yeah doesn't turn it to too long of a convo to hold up
No, just a just a couple questions. Maybe oh, yeah, cuz if you're still there
Body could uh, ask you a few questions as well
Sure should still here
Yeah, so I was wondering what were like, what was the selection criteria that you'll chose b&b
Was it like y'all started a long time ago developing and so you just kind of kept doing that?
Or was there like other specific reasons?
I think it was more of a chain of events
What what happened was like I mentioned earlier when I wanted to dabble in d5 got into binance, right try to buy that chain
Well through buy that chain I bumped into a pancake squad
I mean pancake swap, um, you know a platform
Uh made a killing of it, but but way early. I was actually uh
Um at one point. I think I was holding three percent of their supply
But yeah, I did well and um, I was all into their ecosystem. They had a huge community
so binance again was uh
Binance chain was blown up and it's still it's uh top two three
Well, it was after eth. It was the second most used and in some scenarios
It was even in statistics higher than ethereum chain
um till selona meme coin
Did you know diggins came alone?
But yeah, binance chain is still the second third highest used highest volume highest tvl
most transactions per second highest users, but anyways, I came, um, you know to pancake swap and
You know bought into their nft with nft. I uh came across this
The community in the telegram channel joined. I mean again, I've been in this space for over a decade
and it was unlike any and I've been part of many communities, but
This was unlike any other and I've been with this same community for
Ever since, you know, it's been two three years probably and um
we grew together uh created culture history and
And uh, slowly things just started to fall off, you know with pancake swap team
They we felt like, you know, they deserted us as a community as a collection
We just took action, you know, and unfortunately we had
People resource and everything necessary to pretty much create a competing product that delivers utilities to a
pancake squad nft collection now. So that's kind of part of
The dex is part of the
It offers utilities and discounts and even our other
Projects we have we've built other stuff like marketplaces, but that's why we chose bnb chain
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
Yeah, you went with finance because that was the thing it still has liquidity
And so that's just where inertia has has left you guys and it's still apparently a good choice in your mind
Um, even though we bring it out over to other chains, uh still bnb remains the uh focal point for us. Yeah
The other thing that I'd like to know is what kind of protection mechanisms do you have in place? Um
That an outside observer a third party observer that wants to use
That wants to use this wrapped service. How can they validate that?
The xmr that's in the wallet in the multi-stick wallet
Um actually has the minero
Uh that is represented by the wrapping or the finance and like what are the
mechanisms that y'all have
We don't
Quick answer, but I mean if it if it was bitcoin, it would be easier. I could just point to a blockchain
address
right and then
um
You can look at the balance transactions and all this stuff with xmr. It doesn't quite work that way
um
the
Like y'all publish the keys of the wallet
Of course we can do that. Yes
You can or you have
Uh, we haven't but we can
we we this this platform the bridge was um, it's been in um, you know
Planning and creation for months, but it was just put up for in less than a week
Matter of fact, we tried to get it up
And ready before this show. So we had actually a few days of testing before the show as well
Um, but yeah, it's new and please. Yeah, any advice like that that would help bring more trust whether it's
sharing the view keys or
Again, I'm even willing to
Uh, if if the xmr community can nominate, uh multi key
Uh, signatory, you know, we can take on somebody else from the community that the community trusts that can be a multi key holder
Um, you know to mitigate that risk even further. I'm all
For open for any suggestions like that, but so I'm sure you're aware of the whole um, you know
The fractional reserve practices that bianance as an exchange had engaged in against minero
um
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
You know, just the fact that you know, bianance smart chain was an integrated and still is an integral part of the bianance exchange
You know, we're very very suspicious of everything bianance related because of the price attacks
They they did against us. So like feel like you really have to publish those view keys at a minimum
Um
Noted would definitely add that on a to-do list. Um, but also would like to add that even though
Um
bianance chain was created. It is a uh, uh, bianance creation. Yeah, you could say
CZ himself, um, you know, optically tried to distance himself from direct bianance to bianance chain connection
And I think that's kind of being kept that way
And honestly, I don't think bianance team would have any say over the chain anyways
um
They do probably finance some development, but I think if they try to go rogue
On the chain the node operators won't have it
um
And yeah, I think to a certain extent
No, biann, bianance chain is separate from uh, bianance, um or
Who are the node operators? It was my impression that that the actual node operators for the most part aren't published
Or we should we should call them validators
Yeah, of course. They are published. No. Well node operators they're
Well, they don't need to be published. The thing is node operators have to put um, send down as, um
Uh, a certain amount. Yeah, it's a stake. It's a depost system. The proof of authority. Exactly, right?
Right, so they have to be in a lot of cases the validators
They might be staked, but they're not necessarily published like we don't know exactly who they are
In a lot of cases
Usually what happens is there's 21
Yeah, there's 21 delegators. So these delegators get voted on so they these delegators themselves don't hold the actual weight
They they are required to put a minimum down to become a validator
But the majority 99 of their weight is from voters. So voters delegate their weight
To the delegators and those delegators if they have enough weight
Then they move up the cheer move up the ladder and if they move up
to all the way to the 21st
Place or even higher then they make it they become a validating
a transaction so there's a lot of
Validators that are sitting on the sidelines because they don't have enough weight to become a delegator
But the ones who build trust and the community votes for those delegates
And current most delegates are actually platform operators like
I think anchor
venus and
Few other so major actually industry players become the validators and
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
You know this thing or you know
Not following finances command if you come if they if they're not operators feel like this is going to harm the network
Yeah, that's a common security mechanism for sure that there's definitely financial. Yeah
Like that definitely like so a lot a lot of chains definitely have a similar security map even bitcoin itself, right?
Like the mining ecosystem is fairly centralized, you know
But it's it's also it's the same case like well
Why would they attack their own chain right that that harms their own financial interest?
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
Behind a lot of the proof of work proof of stake constructions. Nevertheless
Um, you know, it seems to function. It has been functioning for a long time. So
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
Or if I'm just like behind the curve here, but I think we have two of them
Unless you already covered them then then y'all, you know, let me know
Talks I think we did
Okay, I just wanted to make sure that
Um, that we didn't miss them
I must have missed that
Okay, I think that um, let me see here. Check any other notes. Um, no, I think that's all I wanted to ask
Uh, kush, I appreciate you coming back on man to entertain my questions
Sure, no worries anytime. See you guys
Thanks