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From YouTube: Cosmos Demo Day: Agoric Presentation
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A
So
agorik
was
founded
in
in
2018,
and
you
know
people
ask:
when
did
we
start?
We
either
started
two
years
ago
or
30
years
ago,
depending
I
worked
on
the
first
production
smart
contract
back
in
1989
mark
miller,
our
chief
scientist
wrote
the
agorak
open
systems
papers
that
inspired
a
bunch
of
work,
a
bunch
of
the
later
work
inspired
ibc
that
you're
familiar
with
for
connecting
all
these
cosmos
zones,
mike
jablon
brought
voice
over
ip
when
it
was
innovative
from
zero
to
two
billion
dollars
a
year
in
revenue.
A
So
we
have
got
an
amazing
team
of
us
and
and-
and
you
know,
sort
of
15
team
members
all
together
that
have
that
have
worked
in
everything
from
small
startups
that
got
acquired
to
game,
changing
projects
in
large
companies
to
standards,
efforts
across
web
and
large-scale
distributed
systems
technologies.
A
Our
financial
backers,
of
course
you
know
all
of
the
investors
you
see:
electric
coin
company
rockaway
lemniscap
polychain
are
awesome,
advisors
of
naval
and
zuko
and
zucky,
who
you
just
heard
minutes
before
and
economist
helping
us
do
this
we're
very
excited
to
have
them
they're
very
excited
about
our
project.
I'm
going
to
talk
a
little
bit
about
that.
So
you
know
why
are
we
here?
We
tackle
large
challenges
in
this
case
defy
is,
is
sort
of
the
exciting
focus
of
what's
going
on
where
it's
very
exciting.
A
It's
got
massive
opportunity
for
growth,
it's
obviously
growing
now,
but
there's
but
there's
three
or
four
orders
of
magnitude
out
there
for
us
to
go
after
and
it's
held
back
by
structural
problems,
everything
from
expensive
gas
fees
and
slow
transaction
costs
questionable
finality
challenges
of
connecting
systems
and
so
forth.
It's
held
back
sort
of
software.
A
Structurally
of
of
of
how
you
know,
people
are
really
excited
about
the
composition
you
can
get
with
that
came
out
with,
like
the
uni
token
or
people
doing
transactions
across
a
couple
of
different
deployed,
d5
contracts,
but
that's
really
baby
steps
from
our
perspective
for
composition.
A
Oh
I'm
not
in,
are
you
seeing
me?
Oh
good,
all
right,
so
that's
really
baby
steps
for
competition
that
are
exciting
because
they're
so
notable
because
they're
so
rare,
but
you
know
other
systems
out
there
that
I'll
talk
about.
In
a
moment
they
have
vastly
more
composition
and,
as
a
result,
they
get
exponential
growth,
that's
even
faster
than
what
we're
seeing
here
and
they
are
limited
by
the
kinds
of
challenges
that
people
are
running
into
in
terms
of
rapidly
producing
new
define
and
then.
A
Finally,
of
course,
there's
there's
security
challenges
where
we're
getting
regular
breaches,
security
experts,
design
systems
and
they
get
compromised
shortly
thereafter
to
the
loss
of
millions
for
for
some
of
the
investors,
clients,
customers
and
so
forth,
and
that's
fine,
maybe
as
we're
starting
out.
But
as
this
stuff
grows,
it
will
become
intolerable
and
unacceptable.
And
so
that's
the
challenge.
We're
really.
A
We
really
want
to
enable
that
next
generation
and
and
achieve
the
opportunity
which
is
being
the
best
place
for
development
of
d5
going
forward
and
the
simple
way
to
think
about
that
that
you
know
a
lot
of
developers
out
there
kind
of
instantly
get
is
node.js
for
d5
or
react
js
for
d5.
Why
do
they
get
that?
How
do
we
accomplish
that
right?
A
We
we
allow
you
to
build
smart
contracts
in
a
secure
version
of
javascript,
where
you
can
use
the
off-the-shelf
tools
that
the
likes
of
microsoft
spent
tens
of
millions
or
hundreds
of
millions
of
dollars
building.
You
can
use
off-the-shelf
processes
and
projects
right,
and
we
have
a
security
model
that
comes
from
the
highest,
the
most
secure
operating
systems
in
the
world
and
and
built
into
familiar
models
of
programming
that
are
now
available
and
familiar
to
to
to
millions
of
developers
worldwide.
A
And
finally,
the
most
important
thing
that
distinguishes
node.js
or
or
react.js
for
rapidly
putting
together
user
interfaces
is
the
composability
model
where
it's
not.
I
can
copy
your
software,
but
I
can
grab
an
off-the-shelf
component
in
the
d5
case.
I
can
grab
an
auction
or
an
over-the-counter
trading
engine
or
a
or
an
amm
or
one
of
those
things
and
put
it
together
with
my
application
to
build
something
new
and
that's
a
really
good
start,
but
that's
the
build
phase
of
what
we
want
to
do.
We
care
about
two
parts.
A
A
Are
there
and
traders
come
in
customers
come
in,
you
know,
eventually,
mainstream
users
come
in
in
order
to
buy,
sell
goods,
nfts
and
so
forth,
and
in
that
market
it
starts
with
key
economic
institutions
that
we
provide
and
that
our
partners
provide
like
the
treasury,
which
is
a
local
currency.
Sort
of
you
know
normal
kind
of
vault
model,
the
the
amm
that
is
part
of
the
system
and
it's
integrated
in
the
system.
So,
for
example,
the
treasury
can
automatically
liquidate
on
it.
A
They
all
participate
in
the
the
scheduling
and
prioritization
of
execution
and
so
forth,
right
and
so
and
and
the
key
element
of
this
integrated
economy.
It
gives
us
special
places
to
stand
to
participate
in
the
profits
of
the
economy.
So
we
end
up
with
a
model
of
execution
that
that
captures
value
based
on
the
economic
activity
of
all
of
those
traders
of
all
of
those
businesses
right.
A
So
that's
where
we're
at.
Where
are
we
going
right?
That's
what
we
do
or
sorry
to
build
this
thing
to
deploy
this
thing.
It
takes
a
lot
of
other
stuff,
so
we
have
a
whole
lot
of
partners
that
we're
working
with.
We
worked
with
interchain
foundation.
They
funded
our
work
to
to
work
with
others
in
the
community
on
ibc,
which
you've
heard
about
in
several
projects
and,
of
course,
we
use
in
order
to
launch
our
chain
connected
to
the
outside
world.
A
We
work
with
zcash
metamask,
where
our
technology
is
crucial
to
their
next
generation
of
extensible
wallet
that
we're
working
with
them
to
grow,
to
support
cosmos
and,
of
course,
our
chain
chain
link
will
be
our
our
oracle
launch
partner.
When
we
go
out
to
mainnet
and
so
forth,
and
we
can
talk
about
the
use
cases
I'll
talk
about
another
day,
we
also
have
many
validators.
A
We
already
have
36
distinct
validators
that
aren't
us
working
on
our
non-incentivized
chain,
as
we've
been
rolling
this
out
as
rolling
out
updates
every
couple
of
weeks
or
every
month,
and
we
have
you
know,
select
validators
they're,
all
committed
to
participating
in
our
incentivized
test
net
and
rolling
out
into
mainnet
and
we're
very
excited
about
about
those
parts.
Those
validators
and
we'll
be
growing
that
community
median
community-
and
indeed
that's
one
of
the
main
things
that
I'm
very
excited
about-
is
growing
our
engineering
community
outside
of
agorak.
A
Now,
okay,
so,
where
we're
at,
we
released
an
alpha
plenty
of
people
heard
about
that.
We
are
working
towards
a
beta
where
the
beta
will
roll
right
into
the
incentivized
test
net
to
test
out
and
drive
and
get
experience
and
grow.
These
novel
elements
that
that
integrate
economy
into
our
chain
and
integrate
rewards
about
the
economy
into
securing
the
chain
as
well,
and
that
will
roll
into
mainnet
release.
Later
this
year.
A
Okay
and
my
there
we
go
so
obviously
the
next
thing
after
this
is
the
demo.
So
we
want
you
to
see
some
of
these
pieces
and
what
this
is
going
to
show
is
those
initial
economic
abstractions
that
we
used
our
tools
and
our
smart
contract
framework
to
build
those
initial
economic
extractions,
they're
built
using
our
toolkit
they're
built
using
reusable
components,
but
the
important
thing
is:
they
provide
an
economy,
an
environment
to
place
where
lots
of
other
programs
can
build,
can
work
as
well
right.
A
A
key
thing
is
right:
if
you
had
staking
derivatives
by
itself,
that's
exciting,
but
you
need
a
place
to
trade
it
and
you
need
other
people
to
be
able
to
make
secondary
markets
on
it
and
provide
insurance
and
slashing
defaults
and
all
kinds
of
things
that
require
a
plugable,
rapidly
growing
economy.
On
top
of
your
favorite
defy
application,
you've
seen
lots
of
examples,
singleton
defy
applications,
but
the
key
is
to
make
those
easy
to
build,
so
they
can
be
in
a
place
with
lots
of
others
that
to
provide
synergistic
value.
A
So
this
demonstration
will
include
something
you're
familiar
with
now,
only
be
this
day
that
this
has
become
possible
where
we
can
go.
Take
ethereum
or
sorry
ether
from
ethereum
over
across
peggy,
in
this
case,
via
transport,
in
ibc
to
the
agora
chain,
into
a
vault
to
produce
stable
coin
that
can
then
be
spent
in
the
market,
and
so
we'll
be
showing
those
examples.
So
if
you
want
to
run
that
video
now
that
are
we.
A
B
C
Welcome
to
the
agora
core
hq
application.
This
is
where
I
am
going
to
create
a
vault
to
mint
the
local
currency.
So
I'm
going
to
use
if
a
as
my
currency
to
lock
up
metamask
is
going
to
ask
to
connect,
and
now
I'm
going
to
configure
my
vault,
so
I'm
going
to
choose
how
much
mo
the
local
currency
that
I
want
to
receive
and
put
in
5
000.
and
based
on
the
exchange
rate.
I
know
that
I
need
about
seven
each
for
that
and
I
don't
have
enough.
C
So
it's
going
to
ask
me
to
transfer
my
eth
from
the
ethereum
blockchain
through
peggy
to
agorik,
so
I'm
going
to
do
a
little
more
hit.
Transfer,
it's
going
to
ask
metamask
to
connect
for
me
and
because
this
first
transaction
is
on
the
ethereum
blockchain
and
then
metamask
would
mediate
the
rest
of
the
the
transactions
two
ranked
chain
restarts
later
the
transaction's
gone
through
and
I
create
my
vault.
C
So
I'm
going
to
confirm
that
and
hit
create
and
the
app
is
going
to
ask
for
a
confirmation
in
my
wallet,
so
I've
got
an
offer
to
receive
5000
mo
in
exchange.
For
seven
point
something:
eth
and
you
can
see
that
right
now
I
have
zero
mo
agoric
structures,
its
transactions
as
offers.
So
it's
always
a
given
a
want.
So
I'm
going
to
accept
this
and
then
you'll
be
able
to
see
that
I
now
have
5000
mo
in
my
treasury
mo
purse
and
a
little
bit
fewer
eth
in
my
treasury
eath
purse.
C
So
I'm
going
to
take
that
mo
and
I'm
actually
going
to
create
a
leveraged
position
here,
where
I'm
going
to
go
back
and
buy
some
additional
treasury,
eva
so
creating
a
leveraged
position
on
my
eef,
with
some
portion
of
the
mode
that
I
created.
C
So
this
is
just
a
basic
demonstration
of
the
the
core
agoric
economy
hq
applications
and
with
this
local
currency,
a
user
can
go
in
use,
applications
that
are
built
both
by
agorik
and
by
third-party
developers
as
our
chain
is
a
virtual
machine
chain,
and
so
you
see
that
I
did
an
auto
swap
here.
I
spent
four
thousand
mo
and
I
got
back
some
treasury
eth
that
was
based
on
and
the
exchange
rate.
C
There
was
based
on
the
liquidity
in
the
pool
and
with
that
that
ends
the
demonstration,
so
agorik
is
launching
a
smart
contracting
platform
in
javascript
running
on
tendermint
this
year.
The
core
economy
component
shown
in
this
demo,
will
be
available
for
third-party
developers
to
import
and
build
on
top
of
for
developers.
Building
on
our
chain
is
faster,
more
secure
and
more
accessible
to
a
wider
audience,
and
for
users
bringing
your
ethe
in
is
a
breeze.
C
A
Thank
you
roland.
So
that
was
something
that
that
I
want
to
highlight
there
that
transaction
triggered
by
metamask
in
order
to
create
that
vault
was,
you
know,
eat
from
one
chain
to
peggy
another
chain,
to
gork
a
third
chain
into
a
vault
to
produce
cash,
nothing
but
net.
It's
just
awesome
to
wire
all
that
together.
A
A
B
A
A
B
B
A
B
All
right,
so
that
is
it.
You
have
seen
all
our
presentations
we're
working
on
video
again,
thank
you
to
everybody
who
stayed.
We,
I
think
we're
now
gonna
be
about.
We
started
at
seven
we're
nearly
at
11,
so
it's
been
about
four
hours
of
non-stop
hyper,
fast
presentations
by
the
cosmos
ecosystem.
These
companies
are
a
fraction
of
the
companies
that
are
creating
on
the
cosmos
sdk
and
in
the
blockchain
massively,
and
they
are
real
you're,
not
waiting
for
them
to
to
build.
B
They
are
here
and
ibc
is
here
so
ibc
as
well
as
upgrades
for
all
these
cosmos
chains
is
going
to
make
cosmos
an
even
bigger
ecosystem.
So
please
join
us
in
our
telegram,
t.m.e,
unified
cosmos.
Come
talk
to
us.
Come
talk
to
the
teens.
Thank
you.
So
much
have
a
great
week
ahead
have
a
great
upcoming
weekend.
Thank
you.
So
much
see
you
guys
later.