DXdao DXdao Weekly Meeting, 19 Sep 2022

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From YouTube: DXbiz WeeklyGathering [2022-09-19]

Description

00:03 Welcome
01:19 LiFi/Transferto Presentation
25:35 Dappcon recap

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The recording is on and it records the chat. Okay.

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So um take things off um welcome to the dx.dxbiz.

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Call for september 19th.

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This call is being recorded, the chat's also recorded and the.

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Audio is recorded um and uh yeah. We have actually here from transfer thanks for coming. uh This is our normal weekly dx business call for dx dao um yeah. We can kick things off with you uh and we'll yeah. I think we have about 15 or so minutes. If you want to uh give us some background on yourself and transfer and uh wi-fi, and maybe we can ask some questions.

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And then um it will kick in to.

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The rest of the agenda and you're welcome to stay around.

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Or uh or leave so, but thanks thanks for the comment, sounds.

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Good. Thank you.

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Small clarification.

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Transfer to so uh is the main protocol for the main company transfer, who is our friend for us, so the transfer participatory side of the file.

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So that you only have to sign one transaction.

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Or sometimes, two transactions, uh if the publisher is supported.

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Efficiency fees.

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That's that's about it. uh I hope.

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You answered any of the questions.

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Yeah, comparing uh the your product.

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To like the aggregator of one inch.

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um I'm curious um in in bridging.

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For example, the aggregator's.

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Job is to split.

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Between different.

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Places to like yeah to sum up to the best price.

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um Is in the bridging world, would you find that it's more like the ease of finding the.

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Single best bridge.

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For your specific token, or does does transfer to um actually end up splitting liquidity across multiple.

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Like a like a true aggregator using you know, smart.

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How often does that happen, and then is it like only for really big size, bridging and then you know, small bridges, small.

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Use smaller amount users typically just find like the one single best bridge.

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Path, if you can get some background.

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Details on that stuff, yeah sure um no.

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Currently, of course, we do have an answer to do that, but apparently we don't do that yet, because there are some challenges here.

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Transactions between bridges,.

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But uh plan to do it in the future uh by using russian city, because but yeah.

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So one inch is very easy for them because they can just do it in a single transaction uh instead of the block it's in a single block, but we can't do it because.

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That's obviously.

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Than one transaction.

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So from a user experience.

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Are they like is? Are they signing a message that like gives you the power to do these things on the user's behalf, or do you have to like confirm multiple transactions?

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They use my heart with somebody just personally just support passive messages to bridges so, for example,.

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Our current switch supports, sending.

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Passing messages through creatures. That means that, like um you, can just sign one transaction on public insight.

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And after that,.

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But of course this is not.

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Supported on all the different.

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Bridges that we support, we support 13 religions.

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Actually, on on the business.

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uh Do you have any analytics um is.

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There any data showing.

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um Where the main activities, what type of actions uh users.

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Are performing.

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Whether it's swaps on scene chain, cross chain swaps, uh bridging um which networks have the most traffic and.

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Then, if you could also mention again.

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On the business side, the revenue sharing model, if we integrate refined in software.

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uh Again, we do have data.

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On all these things- and we can share it, but currently.

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Not public yet.

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I can actually see the.

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And we are the.

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I can share with, I think people for sure you guys can.

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So, with respect to the sharing and our business model,.

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We are very close to the combination of.

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For example, if you.

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um And then maybe.

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I think people might ask some questions, but I I.

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Played around before um how.

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Of the so you just showed us, like the bridging.

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Also like allow.

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The yeah swap combined with bridging, is swap combined with bridging a very small percentage of the use of the usage in general. Right now, like.

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Obviously, that's that's, I think that's going to get more.

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And more popular as it gets easier and better in the future, but is like the actual cross chain, swapping a large part of the usage right now.

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Currently, it is on the association right, so you can swap from any asset to uh any other instruments.

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But usually any a certain polygon is like supported. You can solve from wpc.

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To your cc and then this term to arbitrary so.

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That flow is actually like. Very I mean.

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Use a lot, but.

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We also see a lot of.

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Volume through context, so the context.

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Supports the undesiration code features so that.

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We can swap.

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The thing is that there's some slippage in this house, so that's: why previously don't prefer.

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uh Decision cards.

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At this moment, are we trying to fix the situation with this means? So uh we do see that, like this is picking up.

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In the recent days and almost all our clients ask for.

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I mean you, you were very uh it's pretty clear and it's not supposed.

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The doubt to make the decision thanks very much for.

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Attending and presenting.

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um Talking has been working great for.

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Us I remember talking.

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You guys almost a year ago me.

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And venki went to a call with farmers. I remember the same. We basically wanted to talk about bridging and how we should go on to it and.

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That moment, I think he gave us a demo.

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To try out the finance and.

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It wasn't actually working as good as a socket to be honest, and we chose to.

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Really talk he said and but uh yeah we we're not limited to to one one bridge. So we basically have this system. We call it basically.

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One inch of.

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Think that's part of the plan.

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And we understand that. That's actually the best option, because socket is also a good bridge and they.

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Also have a different algorithm.

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Important for us to have different partners.

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To work with right now, we only have.

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Sockets- and it is good to have at least one more.

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Option so just from that perspective, it's also.

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Good good to integrate.

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With someone else, potentially you guys.

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Yeah, that sounds good yeah, yeah cool.

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That's a question: yeah nice. Definitely guys.

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Yes, yeah yeah.

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Yeah one case, but I think they sold.

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A big amount of dxd, which makes them like investors officially.

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And we believe in the uh in the philosophy of aggregating aggregators, so that'll be a great.

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um Yeah you're welcome to jump um where you can stick around and listen to the rest of the topics. We're going to talk about you.

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Already caught some of them in the beginning.

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um Yeah a uh we're doing a hackathon for hackers, basically, with a few.

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Different co-organizers that are closely aligned to our values.

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In uh in in bogota the weekend before defcon, so if you yeah, if you think, there's.

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um In your community that would be interested in that.

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Type of uh hackathon we'll send you the link.

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Is infinite hackathons? uh It's.

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Members of your community or uh users of your community.

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That would be interested in that type of hackathon.

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Rather than like one.

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Giant large one um with lots of like corporate responses.

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To share it uh with anyone that you think might like it.

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Yeah awesome: is there anything in the chat, uh yeah nathan? Do you want the.

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Link to verbally.

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This is cool because this is also related to the software discussions we're having earlier.

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um And yeah this.

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This will all be good in our conversations that.

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We have our retreat in bogota as well, um and then speaking of retreat had mentioned. um Swapper squad is working on uh preparing.

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Some information and.

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Kind of maybe an active participation type thing for bogota.

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The dx biz squad uh plans.

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To do this as well.

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We may try to share.

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It initially prior.

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But yeah like we did.

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At the last hour retreat and then.

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We actually did, I think, virtually uh once before. We can.

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We can review.

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Of the contributions and highlights that.

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The the squads have been doing over the last.

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Six months, one year.

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um Basically, share the the path that that, though, the current and potential path that the squad uh has been is has yeah has been planning and what it's been working on. And then the interactive kind of part would be to give all the different squads in the style more of an opportunity to affect and alter that path, depending on the asks and needs of each squad and then prioritizing as a group.

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uh What yeah, what the dao thinks, those the most important um objectives would be in in in those different paths, and then I think, coming out of the retreat. The idea would be to propose that to the dao um and get the approval of of that path, and I think this same.

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Process will happen.

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For uh most of the different squads uh and all the products as well um and then the idea of.

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In my mind, the idea of the retreat is.

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To have close yeah.

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Close alignment across all these different things and propose that to the community and.

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Seek approval from the community.

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Yeah, um I was thinking that I know that nathan.

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Yeah dave and zett, who were in uh in berlin.

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We talked a little bit about some of.

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The cool things.

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That happened in the swapper call.

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But if there was.

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Anything it seemed that yeah.

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You guys met a lot of people um mentioned the dow panel um and yeah getting getting kicked out.

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Represented and things like that, obviously it's.

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Important nathan gave a awesome.

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Presentation, I believe.

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Nathan, if.

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You want to give some highlights from berlin and dave.

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You guys are welcome to add, but anything connections you made or um new ideas that came out of it would be great to hear.

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Yeah um overall dakon and the whole uh blockchain week in berlin was very inspiring. It was very vibrant, a lot of familiar.

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uh Unflinching building um even.

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New faces, the space is.

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Growing and I feel like we're, gonna come back stronger um in the next bowl.

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It's interesting that there are certain.

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Solutions that surface at each conference and document was very broad. They tried to encompass um many.

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Different topics, and not just focus on on a single thing,.

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um Kudos to knowledge chain being actually.

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Organizing an event.

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Agnostic allowing.

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Competitors to present.

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It was, it was very.

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um It speaks volume.

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Of the whole industry.

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How we are both competing but at the same time cooperating.

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To build so that everyone is better off in the end.

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What impressed.

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Impressive in terms of like I was wowed, but what.

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Struck me was, I saw a lot of focus on.

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Decentralized id solutions.

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One in particular, was uh fractal using.

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Zero knowledge technology.

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um There was there.

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Were I think, three different solutions.

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Actively building in in this uh space, and uh they are on one hand, trying.

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To find the marketplace, on the other hand,.

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They do have use cases that they um advertise.

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And feel like it could.

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Space, for example, in token distribution, endow governance.

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Again, preventing you know, civil.

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And it is something we haven't explored. Maybe we should consider um talk about during the retreat, but it's something we would like to incorporate in our products.

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And our solutions.

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Of solution, I saw.

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From different.

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Organizations being built, um we've, probably all seen, nevada at other conferences. They had a.

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Solid presence as well.

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Building privacy networks, um shutter network hovernet.

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So it feels like there's a strong.

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Signal from the whole industry that we do need privacy, and it is very pertinent now, with all the censorship um it.

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Of protocols allowing distributed validation, um we've seen uh diva opal. um They are kind of offering.

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What's pocketed.

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Yeah overall, it feels like the ecosystem is also trying to get a feel of what its future would look like, multi-chain with all these um different layer, ones, all the layer, two scroll ups. I heard people already.

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Talking about layer, three.

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And um speaking to people from different portals.

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And also users, it seems like.

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uh Sticking to mainnet and in order.

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To move to a roll-up.

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Or a different.

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Network, you need to.

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Have a specific novel product that would manage people to move.

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Struggle figuring how the.

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Multi-Chain ecosystem would actually work. I'm grateful for solutions like liquid finance and other and the messaging protocols they use to allow for.

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You know crocheting.

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uh Swapping and bridging tokens, but it seems like moving tokens.

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To a side chain or l2 is mostly uh influenced by.

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Applications and.

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That are being built that will serve as infrastructure are still kind of navigating towards me.

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Lot of emphasis on wallets.

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I think those decentralized id solutions I mentioned earlier. They.

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Could potentially help elucidate exactly.

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How many users does the space have and I'm a bit.

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uh Scared to to have a look at that number. If, if we have that at some point in the future, because.

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I'm wondering like: do we really have users or is.

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Builders, shifting around the investigation.

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It was also interesting to see.

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Our designers perspective on the um product.

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Design in the space.

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Brought up an interesting point about cow swap like if you are someone from original finance.

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Web to space and you land on a.

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Website that, on an application that has.

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Have been abducted by uh spaceships, you probably wouldn't take.

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Enough, so that you, you would consider.

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That you would.

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You know deal your finances with right, so it's.

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Us we're like in this bubble, we look at those.

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Interesting applications and we find them cool.

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And we use them.

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But like are we really um scalable in a way that we appeal to normal people, and so I think the emphasis will be on on solutions like wallets um products like liquid finance. You know making.

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Seamless um like presenting.

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All the features and products in space into like one product obfuscating all the complex transactions.

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And smart contract stuff.

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An easy interface that people don't need to.

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About too much how it works on the back end.

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uh I think we're.

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Away from from being ready for normal.

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A lot of users from web 2 to web 3.

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Earlier today that.

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Like at all these conferences, there's a lot of dial panels right, there's like there's a lot of dolls out there that are trying to figure out.

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How to do governance? How to do hr at a dow how to organize at a dao how to not get burnt out at a dao. um This has been hot. These have all been hot topics.

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Know six months, 12 months.

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um And and there's people up on on those um speakers.

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Talking about this stuff.

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And and yeah someone.

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Had to mention like holding your mouth and saying oh well, dx dow has been doing this and figure this out.

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Yeah, the the key is um one.

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Of the hardest things is, is.

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That and getting.

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People, aware of of that and taking the learnings that dick dao has.

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Those in those um in.

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Those spaces, and so.

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Yeah actively seeking out spots.

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On those panels and.

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And presenting on these things is one.

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Only ways that dave dao has um yeah.

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Is is a growing awareness on those topics because d.

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Expert in many of those things.

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Doing that more and more is very important um and.

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At the same yeah, at the same time like at emcon.

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Like there was a panel of legal endows and they basically all- and I wrote about this in my recap of m- but they all basically.

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Said like every down.

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And that is the only.

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Way that they were suggesting there is no one.

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Alternative ways, um yet we have a bunch of dows.

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Are doing it another way and yeah the question like when they.

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I I asked them in an.

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Giant crowd the whole room was packed. Why they're all pitching every dow should have one single entity which seems like a centralized.

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Point of failure.

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No one is saying that.

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Should be 800 entities.

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To a unchained, owl and coordinating and using the the dow tech on chain so that 800 entities can coordinate together um and there.

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Was no good answer.

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Was what was so excited about? Yeah? Well, yeah. You know people like giannis, who gave a presentation last week.

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Internally, he's he's actually thinking about a lot of these issues and what is what are the alternative paths and why those could make sense and how to do.

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Things in safe ways and in very transparent and open ways.

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um And and figuring.

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Out the the future way.

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The world, rather than just take all this new awesome technology we have and trying to squeeze it into the.

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Old ways of coordinating uh and and gathering um and.

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So it's it's highly relevant and we need to keep pushing. Yeah has always been a great example of.

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Working on that edge and that's why, with our products when we are discussing whether or not to integrate.

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Something that.

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Centralized or is a central point of failure.

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That is a big important decision.

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Has tried to yeah, build unstoppable unconquerable products um and sacrificing.

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In order to move away from that, even for more users or potentially more revenue is a big important question that the entire.

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Community needs to answer.

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And that includes all stakeholders in the entire, uh in the entire ecosystem.

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I I had an interesting conversation.

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With people from cura- and I gave them an example like of literally.

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All the customers that.

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uh Pocket network have no single one, but dxo asked them to decentralize their portal. So it's like on one hand, you are offering a quote-unquote decentralized.

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The other hand.

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It isn't decentralized right, yeah, you are given to use a product.

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That works until it doesn't until someone until someone takes it away.

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From you, whether.

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You get your passwords.

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On or hacked or well the service provider shuts it down and if, if they have thousands of users, no.

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Single one of them even raises the question it was just saying: is there a way for us to use this portal in a decentralized way.

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And it they went.

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Like for months operating just the way they are without like, if they see how many of our users.

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Us to do it, oh just one out of thousands, so it's not a priority.

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But then all the.

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Regulatory regulators started.

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Like going off the um censored addresses and they realize.

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That they need to change how.

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They work so if they had listened to.

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To that single.

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User, who asked them to do that, they would have been.

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Prepared well ahead of the all of the regulatory stuff that happened so.

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We are in a way helping.

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The space but no one's listening to us.

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I think this is this should be a very important topic when we talk about our direction like if.

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We believe in something- let's say our investors also signaled. The polls saying hey.

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This might not be relevant right right now, but there should be an entity building stuff and.

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Pushing for the certification.

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And it might come at.

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A cost right, we might be slower.

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We might have a harder time finding right.

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Partners, we might have a harder time doing revenue.

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uh We might have longer building uh time because we need to like obviously customize whatever we're doing to make it constant. I think this should be important.

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To ask ourselves and our investors.

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And yeah, if we.

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Still believe this is the right way to do it, even though no one else is admitting that this is the way to do it.

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Or um I lose some of that and actually start.

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Literally, more than three years ago,.

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Censorship resistant.

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Global collective.

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Just handed over.

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Because it's almost like you're providing a should focus on building the protocols.

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They shouldn't worry about regulatory uh scrutiny.

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Like worry about.

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Self-Censorship.

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Over um censoring themselves, being scared where the regulators will climb up on.

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A decentralized autonomous organization.

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Take care of the front.

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End and you just.

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Keep building on the back end and I.

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Spoke with uh sergey at the party and asked him like why. Why is.

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One inch worrying about all that stuff when you just focus on the protocol and hand over the front end to.

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Excel, for example,.

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Well, how long does it take you to do an.

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Well, for security reasons it takes a week and he's like yeah do updates every two days.

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One might listening to me, one might say: oh yeah, that's a bummer, but to me that's actually a huge positive signal. If that's the only problem, there's no problem. I think this is really good.

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He has literally no other objection, but that I don't think that's an issue.

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Cool, um I guess we're at the top of the hour.

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That was very cool thanks for coming and thanks for sticking around.

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uh Hope to be in touch more.

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Okay, see everyone have a great week.

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Appreciate it cheers.