Everything EOS EOS Fireside Chats, 22 Jun 2022

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From YouTube: EOS Community Weekly Fireside Chat - June 22nd

Description

This week the community has an in-depth discussion about the Yield+ DeFi incentive program, Pomelo Season 3, Trust EVM Twitter Spaces, some great tweets from Yves and more!

00:00:00 Introduction and topics by Stephane
00:05:14 Pomelo Season 3 update by Stephane
00:13:22 Pomelo questions by Stephane, cmadh, Daniel
00:23:17 EOSIO Zine by Kommienezuspadt, Stephane, Daniel, Martin
00:39:23 Community shout out by Stephane Bisson
00:40:30 Recover+ Bluepaper released by Zack, Denis
00:53:04 Is Yield+ an attack vector by Chris Barns, Denis, Yves, Zack
01:07:08 What are the liquidity requirements for Yield+ by Stephane, Zack, Yves
01:16:07 How are rewards allocated on Defibox by Stephane
01:24:58 Proxied EOS doesn't qualify as Yield+ TVL by Stephane, Yves
01:31:50 Wrapping up Yield+ with the launch date by Stephane, Yves, Denis
01:39:47 Contract permissions and security requirements by Aaron, Yves, Denis
01:54:02 Trust EVM Twitter Spaces update by Stephane, Zack
02:06:55 Eden Elections by Jay Taylor, Dogman
02:08:09 ZOES whitepaper and updates by Stephane
02:09:47 OCI hiring EOS devs for the metaverse by Stephane, Yves, Zack
02:15:34 EOS think tanks by Stephane, Yves
02:17:06 Gaming Projects on EOS by Stephane, Yves
02:17:43 Upland Game update by Stephane
02:19:18 EOSIO+ Coalition meetings by Stephane
02:20:54 Wrapping it up with an open community chat
02:33:09 END

// EOS Network Foundation //
https://eosn.foundation
https://twitter.com/EosNFoundation
https://www.linkedin.com/company/eos-network-foundation
https://t.me/EOSNetworkFoundation
https://discord.gg/eos-network
info@eosn.foundation
#EOS #EOSIO #enf

A

We'll see what happens.

A

Am I getting echo no yeah, I'm not sure how this is going to work. Actually, maybe we'll need to test this a bit more before we go live with this on fireside, but um okay yeah you ready to start the. Are we already streaming all righty then? Let's get this show officially started.

A

Welcome everyone to the eos fireside chat today june 22nd, thanks for joining us, we've got actually a pretty big show lined up for you guys a lot of topics uh to cover um real quickly here, we'll be talking about pomelo season. 3 kickoff we'll be talking about the new blue blue paper that was recently released for recover, plus uh I'll, be actually sh.

A

uh Reading out, some of eve's tweets he's been on fire lately, tweeting up a storm, and uh it's been really good, so I'm gonna share some of those um we'll be talking about oci, hiring, eos devs, of course, we'll be talking about trust evm.

A

uh The new uh project that was recently announced co20, which is launching on trusted cbm we've also got a twitter spaces event coming up we'll be talking yield plus we got chinese twitter spaces event coming up tomorrow morning and there's also a yield plus portal preview that was posted by defy box.

A

Earlier today we have the zeos white paper released, uh we'll be mentioning an upland interview with the co-ceo co-founder aidan, and um also talking a bit about eosio coalition meetings returning to the public eye um and, of course, as always, open mic for the community. We love to hear from you guys, encourage you guys to jump in, say, hi, uh ask questions, share, updates all that good stuff um mel, maybe mute your mic on your end, or I may have to mute. You myself.

B

A

No problem no problem and uh yeah, so just like last week, I may I may call out specific people in this chat here, trying to increase the engagement trying to motivate you guys to jump on the mic. uh Yeah marty got the insta server mute. I will unmute you give you a second chance marty since you're you're, ruining your sleep cycle to join us today may as well. Let you speak up uh yeah, say hi. Maybe.

C

Yeah, you can yay hey.

D

Guys we're happy to join you guys, I'm still awake.

A

D

It's a good thing because um I didn't have electricity for the whole time because there was a electricity shutdown, so I'm just getting back home so trying to you know it.

E

Had to stay up.

D

Yeah, it's so hot here I had to get like my.

C

D

Know it's impossible to sleep here without ac or a fan, or anything really so like listening to you guys is really helpful. um I'm happy to join the fireside chat once in a while pleasure.

E

To be here and.

A

Are you finally.

F

A

Listening to us puts you to sleep. Is that what I understand.

D

No, no, I can't sleep because it's so hot here, it's like 38 degrees and I don't have ac and no fan or nothing. No electricity.

G

D

Netflix, you put me to sleep, no podcast, to put me asleep, no internet, to look at anything with my brain at ease, there's so much going on in the eos ecosystem. You know I'm so busy in my brain. It's so cool, so yeah.

A

D

A

Yeah well happy uh happy to have you back uh for those who don't know. Martin is part of the eos nation team um me and martin work, together with dot gems working on the pomelo nfts working on uh managing this discord server and a bunch of other things. Actually, marty took a a little vacation, a little long overdue vacation after working really hard for us for four years straight. Basically, uh well-deserved uh vacation there and uh yeah glad to have you back in action. Martin.

D

A

We've got uh chris barnes in the house as well. Welcome jay taylor, uh felix norris sapiens, not sure uh I think you're new or I don't have you have you joined us before sapiens, come on the mic say hi.

H

We've got doug.

A

That was crazy. There's a lot of background noise sounds like you're in a factory somewhere, uh doug wu nice for you to join us all right. So let's get it started.

A

Let's talk about pomelo, so pomelo season, three kickoff article was published last week announcing the dates for pomelo season. Three. um I don't remember them by heart. Let me just go check them real, quick, so we're launching uh applications are opening on july 19th.

A

So that's in about just in about one month, so get those application grant applications ready season. Three is coming real fast and applications will be open for three weeks. Just like last time so july, 19 to august 8th is when we'll be accepting grant applications.

A

um You know a little word of advice to you uh to people submitting grant applications, don't wait till the last minute. uh Last season we had someone submit his application really really last minute and there was a bug in the system or some sort of error, and uh you know we were afraid that that that grant application might not make it through. Thankfully, we were able to get him in, but just um you know try to get there early. We also noticed that uh grants who do you know apply early tend to get more support.

A

Of course, when donations open, which is one week after when applications open on july 27th, uh that's when the donations start rolling in a lot of time, we'll see a certifications at that time, so you know try to make sure you get your application ready in the first week. Also. Another reminder is that we do. The pomelo team does need to approve your application as a public good.

A

So it's good to give the team a few days, of course, there's a big rush at first, so it sometimes it does take a little a little while for the team to go through all of these applications.

A

um I know that our melody has expanded a bit, and so hopefully we'll have more capacity to to do these reviews er, even quicker than we did last time, but still I really encourage you guys to submit your applications early so that you're ready for when donations open uh on july 27th, and then we see this initial rush of donations and what what that does is that it? You know it is a signal to people to see who which grant is getting a lot of support early on, and you know, humans being humans.

A

We kind of want to go with the crowd and I feel, like grants that have early support tend to accumulate more support over time as well, so uh yeah, okay. So so that's it so get your grants. Application ready um donations are open for three weeks as well from july 27th to august 17th, and then after august 17th, you know pamela team analyzes the results distributes the matching pool and that to qualify grants uh that past kyc uh so uh season two. There was a lot of analysis done um again.

A

We've increased our capacity a bit in that regards, and we hope uh that this this season or for season three, the analysis will, uh you know, be done a bit quicker than last time.

A

Testing the autograph telegram live, then yeah, so telegram live thing does not seem to be working. um We're gonna, abandon that we're gonna, we're gonna, shut this down and video chat and uh we'll try again later next week, um all right, so um some more pomelo season, three action well actually pomelo season. Two survey is the last day to complete the survey. uh We've had some responses so far, so thank you very much for everyone. Who's uh filled out the survey so far.

A

If you haven't done so yet it literally takes like one minute and we really appreciate it and it's and by filling out the survey you are going to help you know improve the quality of public goods and you know quadratic funding on eos. So I think it's super important. If you participated in season two as a donator or as a grant creator, please take a minute. um I've shared the link in both the stream chat in the voice chat because we got two chats going now, um so click that link fill out.

A

That survey we'll we appreciate it a lot. It's closing um you know tomorrow. We've also got the same survey going out to the chinese community and the korean community and we'll be compiling those stats, and you know using using your answers. You know to to help us improve the service and the quality of uh the platform for pomelo, and we may also share share with everyone some of the more interesting statistics that we find out all right.

A

So final thing here on pomelo from my side, anyways we've also launched the series three pomelo pomelo season, 3 nft series uh this week, so the first drop is live. We're selling some carbon fuel for you guys to get ready for this nft adventure um we'll need a lot of fuel to get to where we're going, and so you can load up right now on those carbon nfts. uh If you participated in season, two you'll be kind of familiar with the the format of how this nft series goes uh next week.

A

We're dropping the grand collectible packs, so, in those packs, you'll find three grand collectible cards. These cards are created from the top 20 grants from season two, so you'll be able to collect some of your favorite grants and you'll be able to use one of those grand collectibles with four carbons to blend a rocket potion, and it's going to allow you to continue on this nft adventure for series 3.. As always um all the funds raised you know, does go to the matching pool for season three.

A

So it's a it's for a great cause, of course, and um and you'll also be able to accumulate some some pretty nice nfts that uh you'll be able to use as profile pictures and um has banner pictures, maybe even on the pomelo platform or on your other favorite social media sites. So if you go to harvest.pomelo.io you'll be able to purchase these carbon and that's where you'll also be able to purchase the grand collectible packs, that's dropping next week on tuesday, and it's also where you can change your avatar on the pomelo platform.

A

So you'll see there, you can choose your profile picture and you can choose working on uh on an article that kind of explains all this in indeed, but uh real quickly. If you want to put something as your profile picture, you can choose any of these from season. One of pomelo nfts. uh You can choose the diamond pomelos from last season. We've also avoided avatars to be uh input there as your profile pic and also the eden, your eden profile picture as well, and then, um as for the border, you can have a golden border.

A

If you choose a golden pomelo that you will hold or a blue border, if you have some diamond pomelos, so that's a little recap for pomelo season. Three hope you guys are are excited for it. I hope you guys are planning your grants and yeah. If you have any questions of course feel free to reach out to us.

A

We've got the pomelo channel in the discord server. We've got the pomelo playground on telegram. There's the pomelo grants twitter account that you can follow and hit us up there as well and, of course, we're super available for anyone who wants to talk pomelo or ask questions.

F

I have a question.

A

F

Ask I wanted to.

A

F

Denis or someone else from the pomelo team for a while, but I uh forgetting about it, how long can I claim um what we receive through pomelo? Hey, that's, a great question and I don't know the cause it. uh It makes a difference when it comes to taxation.

F

A

F

Germany, theoretically, you don't have to tax it until you claim it, so that can make a huge difference. Yeah! That's why I'm asking.

A

Yeah totally I'm I'm gonna, let danny get in there and answer that question.

I

Or danny we actually spoke about that today.

H

Just for talking about that this morning, yeah.

I

H

So so we right now, we've got a soft deadline right now, we're trying to encourage people to claim, but there's there's um right now: no plans to end uh the claim period. uh What was the deadline? I'm pulling up my email now we did.

B

H

Recommended deadline on the email- um I don't have that in front of me now, but I'm looking I'm pulling it up. However, that deadline we put on the email is a soft deadline.

H

It's I appreciate hearing this feedback about the taxation. You know, there's uh we're wondering I guess what drives certain people to have delay in collecting. So the taxation is a good one.

F

The the the second reason we internally have is that the the general uh mentality in our company is that, when working with community funds, we don't want to claim or spend anything until we have delivered something or something at least an mvp or something usable already.

F

So that's like the second reason and something I could think of that others might might uh yeah same sure.

H

So we, the on our on the email we sent out, we were requesting people to claim their allocation by august 26th. uh So it's still a couple months away. uh However, like I said that is a soft deadline, we had a similar deadline posted on our email for season, one uh we're actually season. One claims still there's still a few people who haven't claimed from season one and they are still able to claim now.

H

So we expect we're going to allow at least a year really to claim um so. You've got at least a full tax year to to uh to, I guess.

F

H

F

Yeah, that's that a year would be great or a year in the day.

H

Right, yeah, that's good feedback, so maybe I'll! Oh.

C

H

We're planning right now where to we, haven't, set the we're planning on doing a follow-up campaign, maybe in the coming weeks reminding people who haven't uh claimed their kyc yet and we'll make sure to clarify the we haven't settled on what the exact date is. But we in that follow-up campaign will have clear guidelines on when the actual last chance to claim is uh so for sure. The the folks who haven't still haven't claimed from season one will be pushing that a little harder and uh season. Two folks we'll have a little bit more time.

F

Okay, every really year in the day would be great, um I'm I don't know how how it works in other countries or uh it's all with with local taxation in germany. It's all a matter of uh interpretation and there are rules when you yeah, when you hold an asset longer than a year, then it's tax-free and.

J

Is joe louis on this call he's like the expert on this subject? It came up as part of yield plus, for example, to have rewards claimable for that same purpose of you could choose like. Let's say you had a pile of rewards and it was the end of the year. You could wait until the following year to claim your awards and it like kind of kicks it to the next tax year. There's a lot of situations where this makes sense. Yeah, yeah, yeah.

H

Git coin doesn't give you that option git coin, they do uh basically they do an ncig and distribute all of the matching allocation all at once right at the end of the season. There is no claiming um we. We asked the community in season one. What do you prefer? Would you prefer to claim your matching allocation or have it automatically sent to you and everybody who responded said they would prefer to be able to claim it.

A

Yeah and the great feedback corbin thanks for for jumping in and asking and sharing that feedback. Such feedback can also be shared in the survey that we were uh passing along. So if others have other type of feedback, maybe you don't want to just jump in here today, although I encourage you to do so, you can leave that feedback in the survey as well.

A

um One thing I did want to mention corbin is that it's very honorable for you to want to only claim once you've delivered on what you promised, um but I wouldn't want other projects to feel that same you know, pressure to to deliver before claiming uh pomelo is designed in a way that you know, projects can get those funds up front and then pay for the development that they've promised right. So as long as by by the next season.

A

You know, in my opinion, as long as the team has delivered what they promised by the time they apply for the next season of pomelo. You know that feels that feels reasonable to me, uh but very honorable that that you want to you, want to.

F

Absolutely yeah absolutely, but on the other side I would personally feel more pressure. If we claim, because if we claim and sell it it would it yeah, I would feel more pressure. I would feel like. I need to deliver now and fast and.

A

Deliver now fast, regardless in my opinion, but.

H

No just kidding yeah the community. I don't think the community can tell very easily whether or not you've claimed we don't have that in the ui. That's another piece of feedback that we could consider is it. Would it be valuable to a donor to see the claim status of a grant? Would you want to be able to see whether a grant has claimed their their matching allocation? Yet?

H

Would that impact your decision on how you donate to them in a future season right now, there's nothing in the ui that would indicate to a donor whether or not a grant application has or a grant applicant has claimed their matching allocation. Yet you'd have to check the smart contract and see there, which I doubt many people are doing.

F

I mean what probably would be easy to implement. I don't know how it looks on the legal side, something where you can, which would allow projects to claim parts while putting a memo.

B

F

The into the claiming action: okay, we claimed two thousand years for blah blah blah. We reached internal milestone xyz. It would provide a lot of transparency for people who really want to yeah look at the.

H

Projects developed one thing to look forward to so we do have some changes in that sort of category coming for season. Three that I'm looking forward to this is based again a lot of feedback we got from. um You know people wanting to be able this donors wanting to be able to easily tell what was the progress from last season to this season before I make a donation.

H

uh So when you're opting in to participate in season three there's going to be a new field that you'll be required to fill out if you're a returning grant to provide an update on you know this is what we delivered since last season.

H

You can see we promised x and now we've delivered y, and um you know in that you know you it's a free form text, so you could, you could type out, but we haven't claimed anything yet or we've.

H

You know that's something that you would be able to put into your update description for season three.

F

Yeah great great um speaking about surveys and emails, uh it leads into another question on my side. Can I change my my email or my? The google account that's connected to my palmetto account.

H

That is an often requested feature, unfortunately, not at this time. uh There's currently no way to I.

B

H

You were to change the from their google account, so if you're logging in with google- I don't know, if there's a way from google side of things to change the email address on your google account, but there's no way to change your yeah. What account you've logged in with currently in pomelo.

H

uh It is something on our roadmap, um but unfortunately, won't be ready for season. Three. Okay.

A

All right, great thanks for jumping in corbin. Anyone else want to share some some thoughts about pomelo season, 2 or season 3.

A

Anyone here may be planning on publishing a grant submitting a grant or anything like that. I'd love to hear a bit more, uh a bit more feedback from you guys.

A

I see that lars is in the chat. Can I can I call you out lars and get you to.

K

Actually yeah, can you hear me.

A

K

Yeah, actually, I was going to just raise my hand but um yeah, I'm driving home, so it could be a little bit noisy, but I figured I'd give a quick update of some of the progress I'm making on the immutable realm scene.

K

um I actually spoke with uh lovejoy this morning and um he had a couple of questions for me and I just I guess this is a good opportunity to clear up, like any confusion um so like when I originally kind of thought of the theme I kind of thought of it as like, an eos io zine in the sense that, like a lot of the things on the eos road map, included, interoperability and resource sharing between you know, chains, and things like that.

K

So um I just want to be clear though it is not like a you know: I'm not using community funds from emails to like promote any other chain. um This is like strictly intended to just be something to bolster and support.

K

You know the work that is being done on eos and you know do so many of those things that, like more or less I've, always thought of this as a medium to basically take a lot of the architecture and work, that's being done on eos and kind of convey it in stories and comics that are accessible to like people that aren't so deep in the weeds as like.

K

All of us are um so, like you know, you know I hate to use the term regular people, but you know what I mean the uninitiated um and I kind of live in that world, like always have like my introduction to all blockchain was basically theme it back in the day, and um I ended up being this person that was able to understand the tech side of blockchain and a lot of the um you know some of the revolutionary technology that, like kind of supports all of these things, but like also a lot of my friends, are artists and before nfts were a thing like.

K

It was really hard to get artists and creatives to really pay attention to blockchain, and that's kind of why this is like always been a perfect thing for me to to do this scene is because I feel like I can kind of reach those people with some of the cool technology. That's happening um and the possibilities, um but uh keep it digestible.

K

So um that's that's just the first thing, I'd like to say so yeah um this is. This is a strictly eos uh zine, but it it the any verbiage that, in the original grant and everything that may have said, osaya was not intended to mislead anyone to think that it was going to be. You know, to promote like wax or file or anything like that. I've done plenty of those sort of comics in the past when I was working with eos detroit, um but this project is.

K

Videos related um the other I guess update I'd have is um I've been talking with joshua uh at eden and uh we're we were kind of um through eden, I shouldn't say at eden, but um that's where I met him. He and I were put together in a small group, and uh we were talking about some cool applications of like coming up with uh stories that would be potentially like fictional stories that were reached through kind of a decentralized process.

K

Instead of just having like a writer, sit down and come up with a whole story like a way that we can kind of grasp a bunch of creatives and kind of reach consensus on like an overall um fictional story that could probably be turned into a comic and then uh the last thing I have that I'm. I don't really have anything to report back yet because I haven't gotten an email, but um I just sent it out.

K

I had to really craft this email, so it sounded proper, but um I'm not sure if anyone in the group is or in their chat is familiar with daniel schmottenberger, but he's a brilliant mind and I kind of uh came upon him through a podcast and he's just got so many great thoughts on you know humanity and systems and how people govern one another. And you know self-governance and things like that.

K

I just wrote this big email and kind of uh you know he had an option where I could actually upload some art and stuff or files. So I included some photos, but I'm trying to reach him and um see if I can get a conversation with him. I think he'd be a great mind to sort of uh share through this medium because, like he is outside of our orbit and when I say r I mostly just mean like the ego's community.

K

He definitely seems blockchain aware, and um so I I think, he'd be a great, but I mean like his he's a very philosophical mind that I think would bring a lot of really good context to like some of the things um we're all trying to do and the ways we're all trying to you know um reach consensus and everything like that.

K

He might be able to bring some insight, so I've I've reached out to him we'll see if I hear back from him, but you know I'm, I'm kind of uh this whole thing is the process of starting a project like this is usually messy and that's usually the most fun for me is like the messy part and I'm in the messy part right now. um The other uh I guess I wanted to share was I kind of had some consultation with friends and I actually think the immutable realms before season three begins.

K

I'm actually going to break up into two smaller volumes. So originally I was thinking about a 32-page zine uh that would be released shortly before season three begins, um but the more I've been thinking about it. I may end up doing two volumes. That would be 16-page scenes um that way. I can actually get one out like halfway like through the halfway point so that it's not just like a huge dump on the end of the you know the period. So that's I don't know I'd love to hear feedback.

K

If that's something anyone thinks would be a good idea or maybe it's a better idea to just do a full 32 pages. But these are some of the you know, kind of moonboard ideas, I've had and and just things I wanted to share as an update.

H

I love that idea. I think uh donors would appreciate seeing you know if, even if it's a small, you know the small 16-page version, uh I'm sure donors will appreciate seeing that when it comes time to start donating for season three.

K

That's exactly what where my head was too um because, like you know it, it becomes a bit of a magnum opus. If it's like, you know- and I mean I'm sure when it's released at the very end, um it would still be really impressive, but you know a lot of our space moves really fast and um I was thinking two smaller zines might be. um I mean it'd be the same amount of content more or less, but it would just be broken up between, like maybe two smaller chapters or volumes.

A

Yeah I'll uh I'll, plus one uh the vote as well same as daniel definitely get some uh get some content out here as soon as possible. I'm really excited to see it so definitely.

C

A

It up in two pieces that seems totally fine by me.

K

Yeah right and there there's some other, like the last thing I'll say on this and then I'll close is um there's like little uh ideas. I've I've had for a while that uh I'll be kind of implementing soon, which are um like. I have this. uh One thing I've always been kind of obsessed with is the idea like the premise of the skip of theseus and how boards are replaced on a ship. You know, and at some point it's like: when does it become a new ship?

K

I I just I I kind of love, those sort of thought, experiments or like philosophical approaches to things that aren't ships really and I've kind of really always wanted to do something along that line with eos, because I mean I've. I remember when, when the first token distribution was available, I remember sending thousands of dollars of of ethereum to like a smart contract, and I was relatively users with blockchain, so I was just like I'm sure. I'm never going to see this again and um I ended up getting you know.

K

I ended up getting on that. First token distribution.

K

So I've been here for the whole time as well, and it just all the iterations that we've gone through as a community and as a chain and everything in general, like it kind of, does remind me a bit of the ship of theseus, and uh so one idea that I'm exploring is like finishing up this comic. That would be like sequential art, so maybe two or three pages. But um what would be cool is to like, if I end up, drawing or illustrating like a ship of theseus interpretation of like eos.

K

That can be something that can be even released for free, as just you know, it doesn't have to necessarily be released when the whole zines out it could just be a single piece of art and then, when the zine comes out there would be.

K

You know basically the story that accompanies it, but um that that kind of iconic piece of art would be the thing that would, you know, be shareable and you know be on twitter or maybe be available for a certain claim on like an nft sort of situation, not for sale but just claimable for, like maybe a certain amount of accounts. I don't know ideas, you know there's these are things I have friends that I kind of consult with on these ideas, but like yeah, that was the hope.

K

It's the kind of like over these few months up until season three just released some art. That kind of will be companions to like the final um two issues of immutable, roms.

L

C

K

It that's all I have to say thanks for giving me a chance to update everybody.

A

Absolutely thanks for jumping on um anyone else want to share some comments, see chris barnes, maybe jumping on here. Maybe.

M

Not it was a mic test. I didn't uh anything with larry. What lars was saying sounds awesome. I super. I definitely encourage that. So I look forward to seeing it. I don't know if that's what you meant by comments.

A

D

I would I would I would come in on this like lars. This is awesome and I would even encourage you to to have a higher frequency than that just having 16 pages and 32 pages, because, like we're having this whole narrative of the new eos coming up and like you know, since, like the blue papers came up which are already new boards to the whole ship right and because they're the division of where it's going right so documenting this and giving this like, maybe just four sheets of paper and giving it like a visual representation.

D

I think there's so much value in this, where you can build up a following for immutable realms over time right, because if it doesn't really matter, if you're putting out four pages or 16 pages or 32 32 pages because, like the art will be appreciated, no matter how long your your your your graphic novel will be but like releasing it over time and making it visible, because every nft, if you release it as an ft, will be visible anyway for everyone, but releasing it over time and giving people the chance to appreciate the story and appreciate your art really gives you a chance to grow your community and grow the basic attention for this whole thing happening.

D

uh There's value in this so um definitely like putting out something before season. Three makes sense for me and having higher frequency in your releases and maybe maybe also getting feedback on what happened on these four pages and how this get gets depicted has value as well. That's just my two cents yeah thank.

K

You yeah it's great feedback.

A

Yeah totally marty. Glad uh glad for you to jump in here. Share your feedback. You should uh you should stay awake until 3 a.m. More often.

H

Reminds me a bit of the strategies: there's like the netflix dropped the whole season, all at once strategy or the apple tv plus drop one episode per week strategy- and I was- I was reading an article this recently- how a lot of people prefer that getting all the everything all at once.

H

But if you look at the data, the the shows that drops at one episode per week end up being more successful in the long run, because they they hold the engagement of the off audience over a longer period of time, instead of everyone binging it all in a week and then forgetting about it. You got this sort of slow drip over time. That's keeping the audience engaged.

K

H

K

Want one sorry: what like another analogy that comes from like that point of view is like I think, of this a little bit and.

B

K

Not sure which one, I think is more effective, I'm not sure if it really even matters but there's sort of the apple approach where, like apple, keeps all their unlocked, and nobody has any idea and all the the blogs have to like speculate about what they're doing like we've been hearing about an apple car for like seven years and then there's like the google approach, which is just like everybody, gets to see the spa like the sausage being made, and it's like it's messy and a lot of times, they're very up front about this- might not work.

K

You know, and I've seen them do that with like google, plus and others they're kind of you know they get to a point where they'll abandon a lot or orphan a lot of these huge projects just because it just didn't do what they wanted, and I don't think necessarily one is better than the other. But as of now, I've been kind of going more with a.

K

I just wanted to wait until I had something really polished to kind of show off, but I'm leaning more towards I'm just gonna start sharing some on twitter and just maybe some sketches and some you know, because I think I don't know. People may actually just like to see that stuff being developed. The development process in itself might be. You know some value.

A

For sure, and regarding your uh your your question about how to distribute, perhaps these these uh teaser images or whatever, maybe you can make them redeemable for one pop token, just throwing that out there we can uh that's.

E

A

We can help you get that set up. uh Obviously everyone in here uh speaking of pop tokens, you can go into the stream chat and uh claim your proof of participation. Token. I see you see bam in the chat here, asking how to claim poe app so yeah. So what you do is you simply write your eos account name in the stream chat with a dollar sign in front of it that signs you up to the list and then, after the show, I send out some pop tokens to everyone.

A

At the end of the month, uh there's some raffle tickets. You can enter the raffle force to win some prizes. uh We are going to be increasing the prizes this month, uh so instead of five eos prizes, we'll be giving out 10 eos prizes this month, um probably 25 of them or so uh so uh yeah make sure you uh you claim and collect those pop tokens and uh get ready for the uh for the draw at the end of the month. You can go to blend.gems.io.

A

And uh blend your raffle ticket at any time I've got, uh I put, I posted all the raffle tickets for the rest of the year up there. uh You can only claim the one for the current month at a time uh but yeah you can go out there and claim your tickets whenever you want, and it's now four pop tokens uh instead of five to claim them.

A

So if you show up to these shows every week, you'll be uh guaranteed to be able to enter uh or, but maybe I want to save some of these pop tokens for some alar's art as well. So that's that would be cool. I think um shout out to our twitter viewers. We've got uh two viewers on twitter right now. We've got seven eight watching on youtube, we're up to 48 people in the fireside chat, love to see it.

A

Let's see, let's see if I can shout out some more people that have joined aiden bam, biandria welcome, uh ciscam, uh who else is here? We got francis uh jay taylor. Welcome, mark stare from tippett good to see you here maxim: cincinnati, um ns james. The legend is with us wreck kid og with us ronald nice to see you, uh we've got ted cahul from the enf. We've got eve and zach as well from the enf lovejoy, of course as well.

A

uh So thanks for joining everyone, and if you guys have questions for any of these people, you know feel free to to jump in and ask these questions to uh to these legendary eos community members all right. um Moving on to some other topics.

A

uh We had another blue paper released this week, recover plus blue paper, was released just a few days ago, if I'm not mistaken, uh when was it released? Oh actually, last week june 17th. So uh on friday of last week, let me share this link for you uh for everyone in the stream. Chats got it in shared in here and then in this stream chat as well uh maxim. I see you wrote your account name in the wrong stream chat.

A

So if you look in the stream chat channel, that's where you write the account name, uh you wrote it in the voice, chat which is new and our bot is not yet set up to uh to accept uh entries there. So make sure to write in the right channel but yeah, so I've shared the link for the eos recover plus blue paper. um Do we have any of the authors here with us today? I don't think we do.

J

It's like it's like 4am in shanghai, so, although he is, he might be awake, but francis is not on the call, so pizza uh pizza, deep. I were the soul off authors, um but they will. I know this is a topic that will come up. Francis will be on uh the ama tomorrow for yield plus. But if you don't speak uh chinese, you might not be able to understand it, but he will likely be explaining some of the recover plus concepts, even though it's a yield plus ama, and that ama don't worry.

J

If you can't understand it, because it is not your native language, it will be transcribed into english after the fact, but no he's not on the call.

A

I mean um martin's on the call and it's 4 am no excuses, no excuses well,.

J

I'm gonna, I'm in another group chat and francis is actively communicating about a meeting tomorrow. So he is awake, but I'm not gonna ask him to join at 4am.

A

No totally fine, I was just kidding um but yeah, so this uh yield plus event is going on tomorrow morning at 8am eastern um denis is going to be on there of course, uh but uh so he he doesn't speak then he doesn't speak chinese, but he'll they'll have a translator for to me, but that's going to be the only translation.

A

You know that's going to be the only english that's going to be uh spoken uh during that event, but, like zach said uh there will be an english recap posted eventually about the event, so that everyone can can be. You know, can follow along eventually um speaking of yield, plus we also had a portal preview this morning shared by defy box. So let me share this tweet for you guys.

A

I don't know. Denis did you want to share a few words about this? uh This demo.

I

um The demo well tomorrow, is the um so. This is a kind of a pre-screening of tomorrow's uh in may so right now, the uh yield plus team is working hard on developing the smart contract, developing the back end, developing the historical tvl oracle and also the the ui implementation.

I

So this is just a preview of the um sort of the prototype mockups.

I

um There is still a lot a lot more work ahead to polishing off the yield plus project, but we just want to at least share a little snippet of what's currently active, and that way people can kind of see what the team is working on and tomorrow we're going to be more going in depth with uh more of the community questions, so there are going to be pre uh pre, like questions that are going to come from already the community, from twitter or from wechat or from different social media groups.

I

So there are not going to be questions that people can ask during the ama. There are really pre-pre-questions that way people can have. They can prepare more on the questions that are being asked and also for me um having english specific questions will help, because I won't be able to answer too much if, if the question was in chinese.

G

E

J

On on the topic of portals, so a video of of of the click-throughs and stuff of the yield plus portal uh was shared on d5 boxes twitter today, but um the current version- it's not finished yet of uh the recover eos recover portal uh has been shared publicly uh for a couple weeks now, but I just dropped the link into the stream chat. If you guys want to see what that is, um so they're still actively developing it um they're negotiating with some kyc providers currently.

J

um But if you have it, if you happen to have a d5 project, you could already register now. The the registration page is live uh to get to get listed on the page, um but we'll do some uh follow-up uh events or twitter spaces or in discord for recover, plus, it's just worse like we're. Just rapid firing, these blue papers, where we did the podcast for yield plus.

J

So that was for the english audience and then this week is the um for the chinese audience and then- um and it came up last week about korean and other languages, but um the issue there is that nobody on any of the teams uh speak those languages or that language. So we'll just need to rely on the transcripts and uh translating the transcripts for everyone to be able to consume uh what was discussed, um but as soon as we get through this uh yield plus um event series.

J

Let's call it uh we'll most definitely be doing uh some on recover plus and when talking about recover, plus, it's kind of like yield, plus kind of goes hand in hand with it, because we've mentioned it on these calls before, but for any project that wants to participate in yield. Plus, it is a requirement to be registered as part of recover, plus.

A

There you go second wave of blue papers uh very exciting, so we've also got a scalability plus blue paper. That is in the works. If I understand uh I know it's not out yet, but um hopefully that comes out uh soon enough and then we'll have you know three new blue papers yield plus recover, plus scalability plus and before dario jumps on here, and asks me about the kahoot quizzes for these blue papers.

A

Yes, they are coming, uh but we just want to make sure that all those three blue papers are out and then we'll we'll do a back back-to-back-to-back uh kahoot quizzes for those who want to join and those who want to compete with dario and try to bump him off this leaderboard top of the blue paper kahoot quiz leaderboard.

A

I got you dario, don't worry about it.

J

Did anyone have any? uh I know it just came out friday and it's wednesday, but did anyone actually have a chance to digest the recover plus blue paper and have any commentary on it before you move on.

A

I did that, but I'm hoping someone else did.

J

I mean it. I even though this was one of the later ones, because it's it was kind of different. The first four blue papers were quite heavy over 60 pages each. This one was a little bit lighter because the end result of what they're developing the portal and the registration and the smart contracts uh are really important components to it.

J

This initially started, as it was meant to be a very even lighter than it is, is, I think, originally 12 to 15 pages. But then uh the yield plus blue paper got published and then it kind of uh got expanded significantly to kind of uh be more informative, but it serves as a really great case, study of all of the different uh major hacking incidents on the other chains.

J

So it goes into depth about the uh what happened and then the response to, for example, the dow hack which it had it's like six year anniversary a couple days ago on on the day of uh the recover plus, this wasn't actually planned and I didn't realize it until after it was published, but the recover plus blue paper was actually published on the anniversary of the dow hack on ethereum in 2016., um but it goes in depth about that.

J

The poly network exploit the wormhole bridge, exploit uh juno, which is a cosmos based chain uh that they had a issue with their on-chain governance, where they had kind of like got cybel attacked and how they reacted to it. So it's a really nice case study on what has kind of transpired on some other chains in these other ecosystems, because I know a lot of times once you're involved in a particular community, this one being the eos community a lot of times.

J

You don't really poke your head up too often to see what's going on elsewhere. So I thought that was one of the um cool things about this particular paper. Is the in-depth look at incidences and responses and other chains, and I'm I'm really excited to once recover plus, is kind of in production?

J

uh It's going to be a layer of d5 that no other chains have so what what sets eos apart is that it'll kind of have this insurance layer built in it is not meant to prevent any type of hack or any type of exploit smart contracts.

J

Nothing's, perfect, you don't know about a zero day until it happens, but there's at least an opportunity to prevent certain things. um So eos will be the only chain uh that I'm aware of that will have anything like this so with with yield plus and recover plus, I, I think, it'll kind of lead the way with uh d5 3.0 if you've been following eve on twitter, he's kind of mentioned, the different layers of d5 3.0 and it will have an insurance layer and that insurance layer will be recover plus through the eos recovered.com portal.

L

A

Awesome anyone else have some some thoughts to share about yield plus recover plus. Have you checked out the portal? Do you like what you see? What are you most excited about?

A

Have you been watching the box charts today, it's been doing well.

J

One year ago this was such a hot topic. Everyone was talking. We need processes in place to do these type of things and now there's processes that have been laid out uh very well researched processes actually of how to react in the case of of an exploit or a hack- and I think we mentioned it on previous firesides, but they are going to be spinning up their own uh test net for the recover plus kind of uh members uh to do essentially fire drills to practice uh the reactions.

J

If there's an exploit, how fast could you react because that all kind of factors in because time is of an essence when this happens but, like I said it's still very early, I wasn't really expecting anyone to have much to say on this. It's only been a few days, and hopefully you spent the weekend enjoying your friends and family. So perhaps in another week or two, we will uh be able to talk about it more in depth on here.

J

People might have some feedback, and then I'd say in about two weeks or so I'll uh have francis uh francis is bilingual. uh The core he's the main author of this and he's bilingual, so we'll be able to have some really good um events for uh both the chinese and the english communities for recover, plus, so looking forward to uh sharing some of the future plans with everyone at that time,.

A

All right, everyone you're off the hook, no need to share your comments. I guess.

J

No, we went to kahoot's quiz. I need that quiz man.

C

J

To win some eos.

A

M

One question about uh the yield plus, so I've been having some telegram chat with someone who doesn't like it basically and I'm trying to sort of convince them. Otherwise, I think it's a great thing, but they're they've sort of brought this this idea somehow in their head, that yield plus creates an attack vector for bloc for eos and somehow they're conflating what happened with luna with this and to me they're totally different. I just want to throw it out there to to you like zach or denis.

M

What would you say to someone who says that this creates an attack vector for eos the blockchain.

I

Yeah, well, it's it's not at all uh close to what luna is um so this is just a liquidity incentive reward, um so I would have to figure out uh or that person would have to figure out what he means by a luna exploit, because it's by no means a uh it's by no means a stable token issuance redeemable mechanics. This is um a reward system for liquidity. So this the effect that this will have is attracting liquidity on chain.

I

So I don't see the the attack vector we we, the downside, is we have more liquidity on chain. I don't. I don't see the attack vector um right.

M

The attack vectors are with the individual d5 applications which recover plus is for so.

I

Well, I mean yeah, so the the the system is rewarding uh active participants on chain. If, if those active participants are malicious, yes, the the yield program could have uh sponsored some liquidity for a malicious platform that could happen for sure, but the the yield plus initiatives itself um are are not an attack vector. It's essentially sponsoring liquidity to be deployed on chain.

N

Well, even that, yes, and no because in order to participate in el plus you'll, have to go through recovery class and in order to be in recovery plus, you have to do kyc, so the the the applications that will be applying to be able to participate, yieldplus and obtain that extra yield will be known. Kyc'd individuals as well, um I mean it does limit the likelihood. But regardless of all of this, like what you mentioned denis, this is not.

F

A stable this has nothing to do with creating anything. Having several points.

N

It's it's. I mean how to answer that. It's not at all the same thing right, yeah, it's really apples and oranges, and one of the effects that I'm surprised that nobody's really talked about um is that exchanges will not be. um uh The word will not be able to participate in this, and so the effect that it will have will actually be getting tokens into the hands of applications on eos out of the exchanges.

N

That is a huge incentivization mechanism for this to happen, and nobody's really talked about this so far, and the people that have been talking about this have been for some reason saying that it does the opposite effect. No, because the if you read the guild plus blue paper, um applications will have to meet certain prior criteria to be eligible to be able to receive, um and an application, and an exchange, for example, does not meet that criteria.

I

Correct and yeah.

N

So like this is a key key, so yield plus has significant governance effects that nobody's talking about.

A

Thanks for bringing that up eve, I hadn't I hadn't even thought of that. But that's a that's an absolutely great point um and so.

N

Everybody talks about getting tokens off exchanges, but nobody talks about how to do it. How do you actually make that happen? How do you incentivize people to want to participate in the system yield plus, is essentially a result of that.

F

Can you can you, can you give a rough summary of how that mechanic works? I haven't read the.

N

Well, if you want to, if you want to take advantage of extra yield, you would need so, let's say an application, just let's call it application a currently offers three percent yield, because they've created a business and they somehow can generate enough cross revenue and as part of their business, uh whatever um their business.

N

um Oh, what I call that as part of their means of attracting users, they offer rewards- and, let's just say for argument's sake, that is three percent, but they've also been able to attract a certain amount of total value locked, which is what tbl, which is what really yield plus talks about right in order to determine how much extra uh subsidized deal you'd be able to get from yield plus.

N

The one metric that's looked at in part is how much liquidity you've been able to track and that liquidity has to be in the form of usdt, eos or eos. So it's not your own token. You can't just create a new token and somehow just artificially pump the price and then get access to this extra yield. It has to be those hard assets, eos and usdt eos.

N

So, in this scenario, let's say: you've created an application you're able to actually get people to use your application and you're able to offer them yield and you've got a certain amount of eos, locked or usdt locked. If you meet the different thresholds laid out in the blue paper, you would be eligible and you meet the other requirements.

N

You'd be eligible to get that extra top up from the network and that talk pop would come in the form of an extra eos that is being made available for the application to determine what they want to do with it. Now the application may determine that it actually needs more money to grow. So it's going to take some of that yield and it's going to pay for further operations to grow their particular product. They could choose to do that or they could choose to be a full spectrum. They could choose to.

N

Just simply add it all to the already yield programs that they're offering within their application. So let's say that they can get an extra five percent, while they would now be able to offer if they really wanted to eight percent yield, which then would attract more users to come onto that platform.

N

It would incentivize people to move to where there's greater yield. It's undoubtedly right now, we've seen the ecosystem, regardless of eos. People want yield off of their assets, and yieldplus is designed to be able to do that. It rewards and incentivizes the applications that are capable of attracting users through their various use cases to be able to come and lock in their tokens in their applications and then, if they do so, they're capable of receiving subsidized extra yield, which then kind of creates that extra incentive for people to participate in those applications.

N

Now, where are those tokens? Well, those tokens are somewhere not in that application, and so when they come to that application, a large part of where they'll be coming from is from tokens being locked up on exchanges, because a lot of the reasons why the tokens are locked up in exchanges outside of let's say the security and for personal reasons, a big part of it is because they offer great yield.

N

So if you had an alternative of similar or equivalent value of yield- and if you read the blue paper, there's considerable amount of pages on this, exploring the different ecosystems, the different blockchains and how they offered it, how they structured it, what is an attractive yield, etc, etc, etc. Then, if you're able to offer something similar, but at the protocol level or at the layer, um you know layer, I guess not.

N

Protocol level but layer, two application level within vetted uh applications that are known they participate here, recover, plus et cetera, et cetera, that'll, be an alternative, um a very value, very good value proposition for users to participate in.

N

O

N

I invite you to go, read the 69 pages of the of the blue paper. I know that's a terrible answer, but I think that that's, the summary is it'll incentivize people. The whole program is designed to incentivize people to parent sorry to incentivize applications. So it's kind of like the b2c.

N

It incentivizes the applications to create the use cases and to incentivize or create the framework and the environment for users to want to participate in those applications by adding yield to the mix, so that there's a there's, a very concrete, legitimate reasons why people would want to go to those applications under very strict defined parameters.

A

And if you're interested in reading the blue paper, I just shared the links in the stream chats.

N

And then none of this has to do with any kind of stable token, so, unfortunately, for for the people that think that maybe an attack vector it's very difficult to answer, because it really I mean it doesn't make sense, it's unfortunately, um that's nowhere near in the mix of what's being proposed.

N

J

N

C

J

Actually, just going to say something you mentioned denny on our podcast we did together was it actually creates because there's a cap to how much tvl like you could increase before you hit your cap and you no longer get increased uh subsidized rewards. Once you reach a certain threshold, it incentivizes competition in a robust, defy ecosystem rather than having one lending protocol that has all of the eos in it.

J

It eventually doesn't get subsidized anymore, so it opens up opportunities to maybe have a second or a third lending protocol, that's able to attract a tvl and it actually creates less of a honeypot because then, unless it instead of having the majority of the liquidity locked up into a single protocol, it's actually incentivizing multiple protocols to pop up and then, if, in a worst case scenario, one of them is exploited and if recover plus can't stop it, then it's one protocol out of many instead of like all of them, so it's actually less risk and all.

N

Of this is manual anyways, so to add to that there's: no, it's not like the tokens are being generated and automatically output, so there's a manual very centralized committee process at the yield plus level. That makes the determination as to whether or not those applications fit the requirements and meet the requirements to be able to to benefit from that, and it's really very much in line with all the other initiatives that we're doing, including eden pomelo the grant framework.

N

It's an opportunity, but this at a different level with different stakeholders for people- or in this case I guess, entities applications to build trust within the system. So eden allows individuals to be able to to make a name for themselves and to be able to benefit from being, essentially uh is compensated by the network, and it speaks to a spark. A particular type of stakeholder pomelo does the same thing with some overlap with with some. You know, similar type of stakeholders as eden.

O

N

Largely very different grant framework another mechanism and yield just becomes another mechanism whereby applications in this case build trust within the network and grow their user base and are being rewarded to be able to do so under very, very strict parameters.

N

It's just another funding bucket made available by the network designed from a plan. That's been researched in you know, in tandem with what other blockchains are doing, adapted to our current reality, empowered and amplified by the tech stack that we run, which enables certain functions or features that aren't possible elsewhere.

I

Yeah- and I can, uh I can add a few things as well, and um the big thing is that yield plus opens up is it opens up the transparency so a lot all of these metrics to offer rewards is going to be on chain. uh The yield plus program is unchained, the oracle for tvl is on chain and everything is driven by smart contracts.

I

So um this what this helps is. It helps sort of identify which protocols have which assets which wallets that they have, which uh liquidity pools and their and their treasuries. It opens up a lot of these protocols to actually see um how much assets they do own in in their actual wallets um we're actually in the accounts that are managed by these smart contracts. So this opens up a huge um avenue of transparency for all these protocols that are signed up um and again, the minimum and the maximum.

I

This is mostly to make sure that we have a diverse amount of ecosystems of protocols. We don't have just one protocol that dominates the whole pie.

I

We have actually maybe 50 or 80 or 100 protocols signed up to the yield plus, and that way it it creates sort of a diversity, diversity of different types of protocols, swaps, lending options whatever, and that would create more sort of collaboration between the projects, because, as all d5 protocols know, if you have more than more protocols available, they can kind of start playing the d5 lego blocks and kind of interacting with each other, and they all benefit as there's more more protocols online.

I

So no I'm looking really forward to seeing which types of projects that do apply and the minimum the minimum tvl requirement is actually quite achievable. um So it would not limit the uh the sort of small timed projects it. It really is trying to get a lot of protocols, let's say in the range of 50 to 100 protocols to be rewarded in this yield plus program, and I think a lot of the projects would be able to achieve that minimum tdl requirement to be eligible to to join.

A

What is the min max.

I

Yeah, it's it's it's! It would be finalized once we launch, but the proposed one is 200 000 eos worth of tv liquidity up to 6 million eos, which means that if you have a protocol, that is above six million you're capped at that six million worth of tvl.

I

So if you have, let's say 12 million worth of tbl, you would only get paid for half of that tbl because you hit the cap yeah. This yeah.

A

Yeah the mid max idea um and when you say 200 000 yaw, so let's say eos is a dollar. Does that mean in my swap pool? I need a hundred thousand usdt on one side and a hundred thousand eos on the other.

I

Yeah, as long as the sum of all your assets are two hundred thousand, which means that you.

A

Have an eos worth of for.

I

Greater yeah or you can have greater, but as long as the sum of the two assets, um if down the road, whenever we produce additional assets, um all of the sum of the value of the eos denominated tvl will be counted towards that sort of final tvl number. So each project will have two kind of like final numbers, they're going to have their usd valuation and their eos valuation, but those can be comprised of multiple different assets.

A

Great and then, when you say you know, obviously this min max system, like you say, encourages a lot of competition. I think that's super healthy for the ecosystem. Is there a total cap on the amount of rewards that yield plus can give like? You know if there's only.

L

I

Yeah then, there's a.

A

Certain amount, if there's two thousand projects, what happened.

I

Sure, there's definitely a theoretic a maximum. uh This will most likely result in uh not approving, uh or at least having um sort of a limit of approved projects that can come online until there's more funding available for the reward system. So, yes, we can. The yield plus cannot support uh 2000 projects all getting paid. You know x amount of eos per day, um so there will be a limit to the amount of applicants that would join. uh Having said that, the day.

N

That yaz has.

K

N

Minimum that have at least 2 200 thousand eos, yes locked in is a really great day and it's a good day. So.

I

N

The first, the total amount of eos being or being pitched for this is 625 000 eos per quarter, so 2.5 million eos per year. So, yes, that is the cap currently of how much eos would be going into these um as yield. So yes, if you have more projects, they're sharing the same pool, that pool could grow over time if that was deemed uh to be of value to the network. But that's currently the recommendation from within the blue paper.

A

Oh so so, if there's only five projects at the start, they'll be sharing that full 625k eos.

I

Again, another configuration it could be lowered, it could be increased so right now the if you, if you meet the criteria, you would then be eligible for a five percent.

I

Apy liquidity incentive, okay, um regardless of how many projects that join um so at the beginning. What will happen is that the yield plus program will have excess amounts of rewards because there'll be you know, not not enough programs, not.

A

Enough projects about 50 protocols live yeah, so it's kind of a first come first serve type of system for.

N

Well, while to be honest, like the first company, there's plenty of room that there's a true, nobody needs to rush to do this. um If you go look at, and I want to get a big shout out to the the yield plus riders, the three teams that participate in this, the blue papers, we've always mentioned- were kind of like academic papers.

N

They were extremely well written and the teams that wrote all the other ones did extremely well yield plus took it at a whole new level, with the amount of academics that they added within the papers. But there's you know, I think, maybe 10 or 12 pages in a row. It's just charts and it's just graphs of modeling of this and and doing actual data crunching from phd mathematicians on what this looks like why those parameters are being suggested. What happens?

N

Where are the inflection points where we should be targeting and then the whole paper itself is also written um big shout out. I don't know if uh joe louie's here but big shout out. I believe it's joe louis that took that on at the end, to go back throughout the whole paper and redo everything in a ama style, so write the citations, write the references for every single quote in there, etc, so that the paper itself is really written as an academic paper and as much as the others were academic papers.

N

This is this really takes it up a notch, and so all of the parameters that denise is talking about, aren't just pulled out of the app of somebody there's the the mathematical um I guess, data modeling and the reasoning and the research that is being provided.

B

N

Well, as that as to where they came up with those numbers, why they're coming up with those numbers and in the short term, anyways we're not going to be hitting that cap? There's plenty of room to grow, so danny mentioned on a few occasions like the target is to have between 60 and 100 projects. That's what the current parameters are set to be able to incentivize, and so we are nowhere near being able nowhere near having enough projects to currently fill that gap at this stage. So there's plenty.

L

N

O

So chase eskim here from challenge deck, so for our application with challenge dac, we have a good amount of users. We have probably 15 20 000 users, but in total we probably have maybe a few thousand eos collectively that people put into our application and we let people you know, move them in and out so for a project like ours. This wouldn't really be something that would be up our alley per se. When you have.

N

Yes, or no I mean so, the the yield plus program is designed to incentivize people to lock a value on eos log value in your application.

N

Now that you know that there's a program out there that would incentivize you to do so. It will likely change your behavior and how you currently design your applications so that, when you make design decisions in the future, you might do so to incentivize your user base to come and lock in you tokens in your application, because you know that if they do so and if you meet the current minimum threshold of 200, 000 eos worth of value that you'd be amplified by the network itself.

N

And so the you know, one percent or whatever percent that you'd be able to offer on your own, would now be topped up with what is likely at the beginning, anyways five percent match and then through that research, um and I believe that that's provided in the yield plus blue paper as well. The yield that are attract or the yield that is attract attractive attractive um when we do. Research on other blockchains is between eight to thirteen percent.

N

The difference for yield plus is that it's not through it's not through the layer, two, the yield that five percent- let's say stable, actually comes from the protocol and other blockchains offer this as well, but they offer this with a decreasing amount of inflation over time. Eos.

E

N

That so eos would have specifically geared or specifically created. You know tokens for that, so it really minimizes who's getting it and it. It really empowers people to build the applications and to get users to come and lock in their their tokens in their applications and that filter, or that kind of you know that resume of when you, when you apply for the job, is, have you been able to attract enough eos within your application? If no all right? What can you do in order to be able to meet that minimum threshold?

N

And then once you do, then the network actually rewards you for doing so, and it really goes back to what I said earlier. The effect will be that a lot of the tokens on the exchanges, which legitimately are the exchanges, not I'm not talking about, not not your keys, not your crypto. They are on the exchanges. It will incentivize people, perhaps to even buy eos in order to come and benefit from that apy outside of the exchanges through not just the application, but whatever use case. The application provides like in your case, with challenged, act.

N

Everything else that you're providing to those users.

A

Cool uh some more questions. Actually this is super interesting and um so, for example, d5 box, obviously, is a deleting d5 protocol. I think on eos I'm looking at their web page right now and they've got you know their swap. They've got eight point: six million of liquidity in their swap they've got four million of liquidity in the usn stable token and.

N

I

Capped right well so there's a little caveat on that, so it is so.

A

My question is basically rewarded for the swap and then also for the usn and then also for the land, or is that all combined in the d5 box reward.

I

So there is a caveat it's based on protocol, so what happens is a lot of projects? They do build a lot of different types of things. You know you can have a project that does three different, very drastic types of protocols, a lending protocol, a stable token or a swap, so the rewards are going to be per protocol. So if you develop an entirely new protocol, it will not limit it per the team. It would be based on the types of protocols.

I

However, if you tried to create two swap protocols, then the that would not be legible. You know if you're, if you're, making the app twice and you just change the url to the same thing. That would not count um so as long as they're they're new contracts. You know a new website, a different platform itself um that operate a different mechanism like if you're trying to do a lending. If you're trying to do a swap uh those those two protocols would be illegible because it's not for project protocol.

A

I was on the impression that like d5 box was a protocol, but I guess d5 box is the project yeah.

I

A

Got their swap protocol they've got their stable coin. Usn protocol they've got the other.

N

Yes, so they're back out on that usn isn't a valid. um I guess a token that counts towards that value right. The only two tokens that are supported are those hard assets you, so you can't create your token, sell it to your friend for 10 bucks, mint, a billion of them and say I now meet the maximum threshold. Please give me that yield in those hard assets are eos and usd eos. So.

A

For example, here on d5 box, I see in the lend protocol they they have. You know 4 million u.s, but then.

A

So some of that might not qualify is that.

I

Yeah, so it's just that the hard assets would be counted, however, down the road which is since the next phase, once uh yield plus essentially establishes itself it's stable, we've been operating for a couple months or um then we can introduce additional assets. uh However, each of the new assets will have a study, we'll have a risk analysis on figuring out which assets are due end up being supported. You know, do we support rap bitcoin and which rap bitcoin um stuff like that? That could be.

I

That would be the next stage and also assets that are uh on trustee vm. Those are other, maybe the evm token would also be the second or third assets that we do end up adding, but on the initial launch, it's only going to be eos and tether, but open to other assets. Opening up down the road with sort of risk analysis per asset.

A

Beautiful so here I'm looking at the balanced liquidity on the d5 box and it seems like they've, got around 500 000 of usdt and then some usm on the other side. So yeah.

I

Half of that.

A

Half of that qualifies for it.

N

And clarification as well, those are tokens that you need to be owner of and so they're, not proxy tokens correct. So, for example, new dex actually doesn't have any eos or very very little very.

I

Small yeah they have some, but not um anything. That's proxied is not again not your keys or you're, not you're, not your staked, um but it would have to be owned, so the assets would have to be in the account it can.

I

It can be staked to rex as long as you are the owner or the account is the owner of the assets and rex, so you could have 200 000 worth of eos deposited into rex or staked for cpu or staked for you know, but as long as it's in the account not delegated, so this yield program does not um will not function for the tvl requirements. If you delegate your funds to another town, the other account will not have that. Tvl.

A

So just to be clear, so limit orders on new decks, for example, doesn't count towards the tvl for new developers.

I

Well, technically, it does because there actually are. They do belong to new deck. So if you yeah but there's not that many, that's the page, there's surprisingly a decent amount. Surprisingly, let me see I'm curious about them, but.

N

Then they're so then it goes right, oracle! No, but then it goes back to the oracle and it goes back to then the continuous calculation of what is considered as tpl right. So it is possible that you have you meet the requirements for half a second and so think of it, like the um like, the um I don't know the eos nation uh proxy, or something like that. So there's the continual um check as to whether or not you meet the requirements on an ongoing basis.

N

It could be that you actually get your share for that 0.5 seconds, because you've met the threshold for that one block and you get your 0.001 eos extra right. So it's an ongoing thing. So it's not! You met the requirement and now you no longer need to require it, but you're still getting that yield. You need to continuously and if you grow within that requirement, your yield grows as well.

N

So as you move to the different powers or the different levels, if for a period of time, you keep fluctuating between level one and level two that's cool, because it would be a continuous pull on the data for those hard assets, yeah you need to and the idea or the concepts of yeah, but people will be able to double dip. Those have been resolved a long time ago with the proxy pools. So this is not necessarily new tech. This is battle tested tech over the last couple of years.

I

Correct yeah, there's every 10 minutes, there's a new sort of data point. So if you do end up moving your assets to another account trying to game the system, well, the other account will lose its tvl and the other one will gain. You will always most likely only be counted once uh whether it's in one out one protocol or the other um you would. It would be very difficult to double, have liquidity twice uh this. Another thing, too, is: if you are a protocol that is trying to game the oracle.

I

Well, that will most likely also be a um a violation and you will most likely be denied from yield plus trying to game the system or try to game the sort of oracle by doing manipulative uh liquidity movement transfers and because it would be unchained, it would be very easy to detect.

I

I don't think anybody will try that, but it will be very difficult. Go for it if you.

N

Watch it again and I catch you.

I

Yeah, um just the things on the same same as pomelo just yeah, you can just it's on chain, it's recorded and will be recorded forever um and as for just for new decks, they're, actually at 100, 000 eos worth so. What happens with limit order books is the the assets that you let's say you want to put a buy order well that those assets are in their contract pending, so they would be at a given time. Yes, half way there to be eligible.

N

I

I was bringing.

N

Nudex as an example of people can think, for example, that the decks actually would be a natural fit for this and they'd be at the at the top end or at the you know, they'd be capped when in reality, it's the complete opposite yeah.

N

Those assets are in order books for a very short period of time and there's always order book assets in the order. But obviously, if the growth of the eos increased. If we went back in history- and we looked at the you know the times where there was a lot of activity on chain, clearly they would have had more tvl for sure. But it's.

B

I

N

The idea is that it's not a given, so this really needs to incentivize people to create applications that incentivize or that reward, or that as part of your business requirements or as part of your strategy, incentivizes people to lock in their tokens- and so we get eos tokens out of circulation into applications into the hands of the builders into the hands of the community. Outside of the exchanges is a big key component to this right.

A

All final question: just I want to make sure I understand this correctly, so you said proxied eos doesn't count so, for example, the eos nation proxy would not qualify for correct.

N

You don't actually you don't actually have eos, so no for most people. When I look at proxy for nation the account it has, I don't know how much, but it has zero eos in it. Those do not belong to you. That's not tvl right. That is the those are the staking rights to the tokens, but it's not the actual yeah, totally making sense.

H

A

O

H

Took their balance and proxied it to a proxy that would qualify. Is that right.

I

Correct because they're the.

H

N

Yeah right right so I mean this, it seems like maybe it's complicated, but for those building applications on eons. This is you know, pretty vanilla, easy stuff yeah and for the users, all this is abstracted. It doesn't matter, so you go to your favorite application and they now just suddenly offer you more rewards number one. They do the same use cases.

N

They still offer you the same value, but on top of this, because they've done a good job in attracting enough tdl, they now can offer more reward and it really is just a catalyst to incentivize more users to come and deploy on eos and to get their tokens in the hands of the actual builders.

I

Incorrect, it's really trying to aim so that the reward system is a general purpose, reward them for liquidity specifically, but that way it does not limit your possibilities of which types of protocols you want to do. So, if you want to build the stable token platform, go for it. If you want to build a leveraged, you know 3x leverage swap pool, go for it. It does not limit the types of protocols as long as they're as long.

N

As there would even be something like, for example, I I don't know what the numbers are, but something like vigor or it could even be a wallet if the wallet actually was custodian of those tokens. If you were.

I

N

Service and you're able to track that tvl. That would be something that you'd be that the network would effectively decide to reward you with reproduce.

I

Four sorry, yeah and let's say long-term- staking pools. You can have um what dan was proposing block. One essentially has the code out, for you know having 30-day locking pools. You know that would be eligible, so there is even code out there that anybody can kind of grab and pick up and and build something. So the the sky is the limit, let's say for which types of applications can join and that's what we really wanted to to build with yieldplus is that it does not limit the the applicants.

I

It's the same thing where pomelo you know you can submit a grant. You can submit any idea that you wish that you want to do so. It's very similar to a yield plus.

I

But yeah we're looking forward to answering any questions and and also, if there's anybody that have holes in the idea, uh definitely bring them up. uh We've essentially been talking about yield plus, for I don't know how many months so far, but many months uh almost a whole year, uh so we've really brainstormed a lot of the scenarios uh there you know. Initially there was thoughts about trying to build. You know, olympus, dao or a luna type of token. That was actually brought up. I think it was even zach that was bringing oh.

I

What if we build a luna yeah.

C

I

We're not gonna.

J

Why are you, why are you gonna blow up my spot.

I

I think it was. It was like hey what if we built a lunar yeah, I don't know, I don't know about the mechanics. I don't know if it's going to work out, uh but again it was not trying to to build a specific program or not to build a specific protocol. It was to reward the ones that are building on eos. So it's very general. This is.

N

A creative program- yes exactly right, so it was to create a program just like the other blue. The blue papers go out, look in the wild. What are other people doing? What's successful.

B

N

Isn't working? What could we do? What would that look like? So it's less of a here we go. Do this it's more of a here's, what we could do and what that would look like. Do we want to proceed in that direction? Here's.

E

Data backing here are different.

N

Options that we could go with or hear different directions that we could go in here's what other people are doing, here's what the data shows, etc.

A

Really exciting stuff guys really uh really enjoyed this conversation. Today uh I learned a bit more about the intricacies of yield plus, even though I did go through the blue paper, I did watch that, let's talk, yield plus uh video still learned a bit more today and.

N

The yield plus blue paper is one of the densest blue papers, but it's also one of the ones that speaks to users more so because they can, people can can can see themselves.

I

N

Or they it's an interesting subject for them, but definitely it's a heavy.

A

N

A

By by reading the yield plus blue paper, I mean scrolling through most of it and reading some of the text, um but stopping.

M

A

The pictures right they really.

N

Exactly no, but even the.

M

N

Chris, even the pictures are kind of hard to read, so it's.

L

N

I

True, it's even heavy for the ones that.

N

Wrote it's pretty heavy.

I

It's it's yeah, it's uh yeah, but it's good. It covers a lot of the angles that we wanted to cover and also on top of the regulation, there's a lot of aspects that we need to think about, um but yeah definitely uh looking forward to to diving in into the implementation and seeing if, uh if people have sort of ideas of improvements or in the ideas of preventing types of behavior, so definitely looking open open for all the questions for that and for those.

N

Who are new this week or haven't heard before in the blue paper? There are a few recommendations in terms of next steps, so one of them is the smart contracts and the other one is a portal we've mentioned previously that even prior to the blue paper being output, because there's a translation process, branding process and such when it was presented to the nf.

N

The has already greenlit the work on the smart contracts in the portal, and that has already begun a little over a month ago, and the aim is to have um the the smart contracts and the the portal itself being live in time for uh when september comes and evm launches as well. So the the it's not theoretical as to whether or not this work is being done. It's already underway.

C

A

Right all right, let's wrap it up there for the yield plus section which turned out to be over an hour. I think, but that's great. I really enjoyed the conversation and uh thanks for everyone who participated in the conversation thanks for denis for being here every week and having some clear, concise answers to my questions uh and really good work to everyone on the yield plus team so far excited excited to see all of that launching um what what is the launch date actually. Is there a target date right now, as.

N

Soon as possible, yes,.

N

So there are milestones so uh caveat as well, so when, um when the enf assigns uh work ever since we've been able to to grow the capacity in-house to be able to actually manage projects which we weren't able to do when it was just zach- and I for obvious reasons, but just two people- um we everything that we do now. Similarly to the grant framework, is based on milestones.

N

So when they reach certain milestones, which has been which have been defined within the scope of work, then they they receive compensation for that milestone and according to the current roadmap, I don't have it in front of me, but I believe that it's roughly august or so um set to be. You know done and end of august or so so it's supposed to be roughly end of.

E

August early september.

N

Give or take I just don't, have the date in fact, and that's.

A

Everything to find.

I

And so far so far it's on track, so the development there's no blockers, uh the only blocker is just uh putting the hours and and developing- and you know, building the uis built in the back end, building a smart contract, adding test cases, um there's also the auditing. So the team that we will be using for the initial audit.

I

They will most likely be multiple audits down the road, but the initial one that will be uh doing it is sentinel, so they've confirmed that they are available um actually end of the month, so they should be um joining the uh or at least having that.

I

Having a look at it, it will be a multi-week process for the audits and even after they know, audit, usually there's more work after the audit, because they, the audit, finds things and then you have to go back so the that process will probably be a month or so of back and forth with the auditors, but that will be uh starting soon and uh yeah. Looking forward to getting the audit team on the smart contracts.

I

So we're getting uh it's it's on pace.

N

Great, we bring up an important point, uh denis talking about audits, um so that people know this is kind of just general knowledge um when people say that they've done an audit.

N

I think it's really important they're multiple considerations or I guess, and it's not you do an audit and it's done, and so when you're talking about smart contracts that are continuously being stress, tested and when you're talking about assets being locked and value being transacted and such then you just mentioned that uh you know it's the first audit, but it won't be the last with this.

E

N

um With with d5 smart contracts and what we've seen in the larger blockchain space is that it's not a question of when there it's not a question of if there is going to be a hack, it's a question of when when is the next one? There's always a next one? And so it's really.

O

N

um That, if you, you do, have smart contracts that are out there and you have the capacity and you've got a user base and you've got usage of your smart contracts. At some point you inevitably become a target, and so it's really good practice to continuously do audits on your smart contracts, and some of them might be full audits. Where you go back from a to z and you you re-employ or you employ a new company.

N

That's never looked at the smart contract, so it's a fresh fresh pair of eyes and others it'll be um simple as any time you would make upgrades or changes to your smart contract. You'd get the original company, for example, that did the audit to come and re-review do a small audit again, obviously other the code that is now being proposed to be updated and such so. The auditing process is not a one-off. It's it's done. It's a continuous process of auditing.

I

And another thing on on the audits: just this is more for community members. Even if there is an audit, it does not mean that the contract is safe because the audit could be failed. It could have ability uh described in the audit.

I

So when you're reading an audit from a smart contract, um you actually have to go through the audit and see if there's actual vulnerabilities, because what will happen is an auditing team will create the audit, but the audit could have failed or it could have known known vulnerabilities that the team chooses to keep or not to keep and fix. So um there are some projects.

N

Too right, which is possible as well, um and so that's why it's really important it's a never-ending thing. So the audits, the open sourcing, the nulling of keys, that's unfortunate, the voice shut down because I'd written an article about it a little over a year ago, but the idea is that all these different components don't remove risk they minimize and they mitigate risk to increase the the trust within the application, but we're still dealing with software, and so things can inevitably still happen, which is why recover plus comes in if you've met those thresholds.

N

If you've met the requirements and you've tried to do as much as you can, you've tried to do what you could in your power to mitigate that risk and something still happens. What happens, then? What does the network do then? What do the applications builders do then? And that's really what recovery plus aims to um to address? It's not the again: it's not the! If it's the when something happens, and maybe a particular smart contract.

B

Never gets attacked and all is good and it's.

N

Completely fail safe, that's fine! What we do.

E

N

Is that it's just a question of time until a smart contract somewhere again and part of the recover plus, is to incentivize white hat hackers? Because there's there is tremendous value in getting people from the community and very specifically technical or technically proficient individuals within our community to review contracts and to highlight potential issues that they can find because auditors.

B

N

Only do so much they. You know they're at some point having thousands of eyes on something is always beneficial if possible, and so the idea of being able to incentivize white hackers to come through and share any potential vulnerabilities and then get compensated for that is part of the system as well, and that's something that we need over time in.

K

Eos, because.

N

Maybe if we can mute this individual sorry, um it's something that we've lost over time, because for a period of time with eos for the esio protocol itself, we actually had the the formal bounty system and that closed down, um and we no longer have a means for white hat hackers to be able to be compensated for finding vulnerabilities, which actually is, is counter-intuitive.

N

It incentivizes people to hack and try to and basically not play within the system, because there is no system to play in and so reigniting those functions and those features. Although they might seem counterintuitive white hat hackers play a crucial, crucial, very important role in a healthy ecosystem and recover plus talks about that as well.

A

All right one more question, but it's not from me it's from aaron cox. Actually aaron did you want to jump on here or is uh or your audio, not working.

P

I don't even know that it's a question more.

E

P

A comment I mean this is a large focus on third-party yield generation and I really want to see a focus on yield generation, that's controlled by the network and secured by the network. um I'm assuming there are no requirements to surrender contract permissions from these contracts to bps or to m-sigs. Are there.

I

um No, they would so the m-sig requirement like uh they would be. Essentially, the permission requirement would be up to the team, but it would be up to the community members that want to participate to know the permission structure of that contract.

N

It would also be yeah so.

E

N

The committee that reviews and approves whether or not a particular application meets the requirements to be able.

A

To enjoy that yield, yes,.

N

That's where that would happen here as part of the requirements right as to whether or not oh did you do this? Did you do that? All right are you, um so this fits within that picture, so no that's abstracted away from the community.

J

N

Doesn't need to do that part? um Yes, in terms of just adding liquidity to rex, um that's something that we've talked about for a really long time and ultimately, where we are right now part of the we ran the numbers quite a lot. We did a lot of modeling off of this part of the issue with just putting rewards into racks. Is that it's not directed.

E

N

Incentivize any particular type of behavior and the.

I

Largest uh benefactors of.

N

I

Are the exchanges right and so.

C

N

Kind of is counter-intuitive to part of the other benefits to this program. Notwithstanding this, though, it is possible that in six months in a year's time that the ecosystem is healthy enough to be able to then want to direct a certain amount of yield to rex directly because of this catalyst that yield plus actually has attracted a lot of users- we're just not really there yet. But yes, that was looked into for sure it, and just it's too broad and it doesn't incentivize a particular behavior.

P

Yeah- and that is just an example- I put some example in my message. Just for that very reason. I don't know that funneling inflation and directs is smart, but the fact that rex is secured by the bps um and is like when you put your tokens in it. It is a system contract, there's a level of security above and beyond any program. That's going to participate in yield, plus that they're just not going to be able to achieve.

N

Still, if you're not going to make this.

P

N

For sure, for sure, and- and I would say rex is likely- the the most secure smart contract that we have, because it is still, however, a I guess, there's still a risk, but inherently the risk is, is almost non-existent but um you're right that at the application level, there's definitely a level of risk.

C

N

Exist at the rex level for sure.

I

Yeah well one of the things with rex is it it does benefit from on-chain activity. So if, if eos does have an increase in activity like a 50 100 x, increase in activity, uh those power up fees will actually start racking up really quickly. Absolutely um so, that's sort of important yeah having.

N

Said that just copy out for everybody it'll still be minimal at this point you have to change it very much, but yes,.

I

That is part of the idea, but the yield is actually quite small right now, but it is power up right now is the the majority of the revenue from rex. So I think it's about you know it's almost.

N

90 yards per day, it's a.

I

Joke yeah well, but it would but but power up is the main uh driver of rex reward, that's sort of what I'm saying. So if we had increase uh activity on chain, uh the single driver of the rec's income would come from power up, so that could control 5x 10x. Who knows, but yes, it would still be minimal, but that would be um a way to in you know, increase rex income by having more on-chain activity, and I.

N

Would like to mention.

I

Well, those would be real fees right. Those would be not inflation, those would be on-chain activity, so it's a much healthier to be earning income through actual uh chain fees.

N

Another point to mention that I don't have the numbers in front of me, but the majority of the applications that do have tbl right now actually go through rex as well and like then he mentioned earlier. Those would be counted. So we already see that the behavior of the applications is to lock up the tokens that they do have under their custodian ship in rex. To add that security feature so by default, what you mentioned is kind of already happening, but it's not forced.

N

It is just the the natural it's kind of like having the having wrecks as your cold wallet and having a certain amount in your hot wallet, the application. So that is already happening. That's the behavior we're already seeing.

I

That's a good question there or a good comment.

P

Yeah- and I mean we talked about this probably late last year- it might have been around the time of the first eden election or shortly thereafter, um but generating new events on the network that can put revenue into that fund as a healthy means of you know, providing a yield, that's not through inflation, so it would be really cool if we had some sort of community effort to drive that as well, where it's figuring out what the network can offer, what's a fair cost for it and how it gets distributed back to token holders. Essentially.

L

P

The reimagining of rex overall, maybe rex, as it exists, now evolves into rex too, and it is now something more similar to staking pools or something along those lines.

N

P

N

Is happening aaron, but.

I

The way that it's happening.

N

Well, the way that it's happening think about it differently. So it's the same thing, so I talked about how yield plus nobody's really picked up that one of the effects of that. If successful is going to be getting tokens off of exchanges. Now we're not going to say that that's the purpose of it, but that's clearly something that will happen through real plus the the adding of tokens through rex will happen through.

N

If, again, this is a big if with the premise, but if evm is successful, because evm will require the usage of eos tokens in order to operate and so you're accomplishing the same thing of filling racks through usage on chain through a particular application, which is something that you have control over versus just dumping tokens and racks.

N

So you incentivize the behavior that will lead to what you're looking for, without necessarily having to do the thing that you're looking for, if that makes sense,.

P

Yeah, absolutely those should be thoroughly considered so.

N

Yield plus and evm, both of them, if successful, will be generating a lot of activity on chain will effectively which will effectively bring the yield in ranks up, which then also creates another reason why the applications would want to put the tokens that they have under their custodianship interx, because then they can amplify, and only not only do they offer three percent. They get the bonus with the one percent interacts or two percent in racks, which unlikely, but still, and then they get to add on as well.

N

Let's say the five percent from yields plus, then it starts to get attractive because all of these initiatives have been designed to work with one another yeah, which is very different than just saying: let's take inflation and put it in rex, oh.

P

Absolutely and that's not at all what I'm proposing, but that was just.

E

P

Dumbest and I think most easy example to highlight as a contract that is of this higher level of security.

N

And you're right that, right now the purpose of rex is- or I guess, they're whether it's rex 2.0 or something like that- that function in the system is somewhat of a legacy of a previous resource system that we're no longer leveraging and that hasn't been adapted over time and there's been talk of some things. But really this is a. This is a major overhaul. I mean rex is really key to the protocol, and so that will require a lot of design, thinking, architecture and then this is not something that happens overnight.

E

But you're right, that is.

N

We're kind of stuck with something that we don't really use or that it's not being used in the way that it was intended, because the system has changed and that's no longer relevant.

P

N

P

Resources from wrecks anymore.

C

P

Do but that's- um and this is changing gears slightly and I know we were trying to wrap this topic up, but we're talking about the removal of tokens from exchanges. What is to prevent an exchange from utilizing these applications that are taking advantage of yield plus.

N

uh Nothing you can't really prevent somebody from making right. Let's I don't know, let's take a uniswapper. Let's take anchor, for example, there's if you're able to log value and then the exchange comes, knocking on your door and says hey, can I somehow piggyback off of you? I guess there's nothing stopping from that happening, but the exchanges themselves would not be able to apply.

J

Most exchanges only participate in native staking, and that goes for any other protocol or block layer. One uh you that's not to say that they don't sometimes partake in defy, but I think after what we've seen with celsius and having an oversized position of staked eath of lido's version, I doubt that you're going to see any exchanges risking their users liquidity to put it in a d5 protocol. They'll stake it into rex.

J

Sure they'll do the proxies, but I I don't see them, for example, staking them into d5 box or into pizza or whatever, and then the other piece of this is that there's a cap for the liquidity also into each protocol. So um I I don't have the number.

N

One right- let's say they did take into an application like d5 box or something those tokens would not be d5 boxes, though yeah yeah right. So so yes, then it would require and then no there's no way of preventing the alright that's right, contract in the real world to say that those tokens actually are ours and we're gonna direct them to do xyz.

N

No, there's no way of preventing that the likelihood, though, um that it is valuable enough for them to do so. It's quite low, um but no there's nothing preventing that to happen.

P

All right, so it's a.

N

Risk reward thing yeah, so likely the tokens on the exchanges will remain like token. First of all, a lot of the tokens on the exchanges belong to the exchanges. I know like people like to think that that's not the case. The reality is the asset. Eos has been decreasing in value for four years straight.

N

The largest market makers are the exchanges themselves. The owners and holders of those eos tokens on the exchanges are the exchanges they bought. Your coin that you sold to them. They are holding the token that you did not want. That is why they have it: they're, not holding your token and they're doing whatever with your tokens, you sold it to them, because you no longer wanted the eos.

N

That's the big elephant, the room that nobody wants to talk about, but that's the reality. What this would likely do if successful is incentivize people to start buying eos again, and the exchange would still be offering rewards on the exchanges, but now you'd have an alternative at a similar yield rate that the exchanges are currently capable of offering, because for them it's simply a customer acquisition, cost and so offering yield. Programs is something they do for every chain.

N

It's a means for them to have control over the tokens and or for them, for their own tokens, be able to generate yield off of them, as well as the the fees trading fees and such, but this would now offer a an alternative at a very similar level outside of that.

N

So it's not going to remove all tokens from exchanges. The exchanges are the largest market makers, a big part of why they have those tokens. There is because they are the market they make fees or they make off of the fees of running those pools essentially, and then that just creates competition, which is not necessarily a bad thing.

N

It can start reverting the trend that we've seen so instead of having the downwards pressure, it can start creating upwards pressure because then there's incentive to do so.

A

All right two hours in and we've covered two topics so far. I just alerted my girlfriend to not wait for me for dinner. uh I don't know how long you guys still want to go for, but uh I've got some more. Some more topics to discuss.

A

Are we done with yield plus or are there more things to discuss? I mean I'm enjoying the conversation. I definitely don't want to stop the conversation. If you guys have more comments or questions uh clearly, clearly you guys are enjoying it we're all-time high of more than 50 people. Now in the in this fireside chat, which is more than we've had so far today. uh So clearly, people are interested in the discussion you guys are staying here, so that's great to see um maybe uh yeah, okay cool.

A

So let's, let's talk about uh some other topics. um Some rapid fire topics- uh trust evm, haven't talked about trustee vm. Yet today uh there was a nice tweet this week by the enf and by eve about a new project called co2 0.

A

That is going to be launching on trust evm uh with which, which is cool to see. I encourage you guys to go check check out those tweets. Retweet share the good news, um there's also. There was also a trust, evm twitter space event that happened uh last week. I think it was friday. Perhaps um it was great to see uh esteban, which is a developer. That's working with trustee vm uh he's really hyped on the product.

A

He thinks you know he felt he feels like it's one of the or the best evm product that he's tried so and he's excited to deploy his his products on there. So if you guys have not checked that out, I encourage you to uh go check out. Listen to that twitter spaces event, you'll find the recording on the eos network foundation.

A

Twitter account.

J

I was on it was on the trust dvm. It was like its own thing, uh so it's on the trustyvm twitter account, um but there's al so the links were shared in the chat, but I typically prefer to read things rather than uh watch or listen to them. So I'm going to drop in the stream chat, the transcript of the spaces and in in that blog article they probably link to the uh youtube, so trust evm, I guess yeah they just they must have just launched the youtube.

J

So this is the first video on their youtube is the uh event. But if you want to listen to it, it's on their stuff. The enf like we'll, probably need to keep doing this, um but there there it is its own unique, independent project. uh So yeah.

J

But I agree what you said with esteban: oh, my god. That was the first time I actually ever heard the man speak, so I've been cheering him on and and watching him do his thing and all of these like developer chats. But whenever I decided on the um ama while I was live, it was really uh nice to hear someone so enthusiastic and um anyone who's been in the eos community for a really long time.

J

You've been through um the ebbs and the flows and the ups and the downs, and you might not be as enthusiastic as you were. Maybe when you first entered the ecosystem, but this guy just entered the ecosystem.

J

uh He said he saw something mentioned about the trust or the eos vm at the time uh mentioned on twitter somewhere, and it just picked his interest and when he was on the ama, and I shared the transcript, he was talking about how how the eos community and the trust evm community is so like, exciting and supportive, which is, if you talk to someone who's kind of been here for the last four years, might be a little bit more burned out and have a different opinion of it. But man he's that was my biggest takeaway.

J

Anyone who was uh on the live ama with me. I was probably private messaging you about how uh awesome it was to hear this guy and the other speaker is marias who's, obvious el mato who's been part of the u.s community since day one he's the technical lead on the evm, and one of the things that I enjoyed from listening to him speak because I nothing was like planned with trent uh their answers or anything.

J

It was pretty off the cuff as far as what I could hear, but he did a really good job at explaining something that uh our egg touched on last week on this fireside chat when we were talking about mandel 3.1 and how um and it's in the documentation too, but there were certain intrinsics that were part of the mandel 3.1 release and it enables things like pre-compiled contracts which make uh the eoc vm the fastest it'll help it be the fastest evm. But he went into detail about that and how there's actually up?

J

Basically, there's upgrades that were in the mandel 3.1 release and the mandel 3.1 um launch on mainnet is scheduled for september 23rd, so it'll be live on mainnet before the trust evm launches, because it relies on these uh new intrinsics and pre-compiles. But mattis did a really good job at explaining this.

J

All right also did a really good job of explaining some of it last week, and um it also opens up the door for implementations of things that don't currently exist yet on eos, but are being done by projects and not not in the same way, but projects like zeos with privacy on eos. um Some of these intrinsics that were installed are were part of the mandel. 3.1 release actually opened the door for things like zk snarks, for example, on eos or on the evm, so that's pretty exciting, but um that was all I explained.

J

That's what I liked about the event personally. Was the explanation of pow it'll be or why it'll be the fastest evm and talks about how certain upgrades in the protocol itself are being made to ensure that and then esteban his excitement. It was. uh It was very infectious and it got it got me excited like there's nothing new about the evm that I'm probably not already aware of so.

J

I went into this event just expecting to kind of hear things and not be too surprised by anything, but I was personally surprised because I couldn't have predicted that um the excitement and the enthusiasm- and this is someone who worked on other evms- worked on. Binance smart chain worked on uh ethereum and he just stumbled upon the the eoc vm and he just fell in love with it and the other thing that he um did. That surprised me was.

J

He was super enthusiastic about soulbound tokens also, which are something that vitalik brought to light not too long ago in may. He was uh blogging and writing tweets about it and he and esteban talk about how uh he's really excited about that is cool too, because this is something when we talk about uh getting ahead of the latest trends.

J

I don't know if the soulbound tokens are actually going to be a next trend, but I do know that if you want them to be successful, that you need someone who's, passionate about it to kind of be the one the driving force between behind making it actually happen.

J

And if these soulbound tokens are something that will get more interest in the future, it's nice to know that there's someone within our own ecosystem who's equally as excited about them and equally uh excited about deploying them on the eoc vm, also so that that was a great event. From my standpoint.

A

Awesome thanks for sharing that uh color zach and what are soul bound tokens for those like me who don't know.

J

A

J

Yeah, it's an nft, that's associated with your identity, but there's a huge um there's, a huge gap in reality: okay, yeah you could, you could explain it.

N

Go for it so to make it super simple, so they don't necessarily need to do with identity, but that would like be an obvious use case. um It could be, for example, that you are over six foot tall and that's the attribute. That's linked to that soul, bound token.

N

That token would be non-transferable, and so it's something that you own, that proves identity, or that proves ownership of something whatever that attribute may be and and it would be used to open the doors like a good example, concrete example would be when you go to a pub and you get, I don't know a bracelet or a stamp on your arm to be able to showcase once you're inside the pub that you are of legal drinking age. Well, a sultan token could do that. It would be the proof of by.

B

The way you don't need to see how old.

N

I am you, don't need to see my id, but there's somewhere somebody somewhere. That's authenticated that attribute this token attests to that, and it is mine. I can prove that this is mine. So, yes, there's obvious linkages to identity, but they they expand well outside of identity. I really encourage people to go look into this.

N

They will open up a lot of the functions or features that will be useful for things like pomelo, for civil resistance, for eden, for um being able to prove authenticity of someone um for in in various ways and so they're really exciting. On that front,.

I

Okay, maybe pomelo is already working on these types of tokens.

N

You are intent, you are yes well.

E

I

N

Voice kind of was for a period of time, but yeah exactly so.

I

A lot of these uh mechanism, like pomelo, has has sort of mechanism there might not be as as transparent or as people might not know, but we are connecting you know: user account, behaviors and just an example like the top donors of pomelo. You know that can never be unchanged for season one and two um so yeah, I think soon to come. I think there will be sold down pomelo type tokens.

N

And what's really cool with this? Obviously the name is pretty cool.

E

But something else.

N

That's really cool. Is that the? um If you I don't know, if no that's, not the link, you shared zach, just shared the link from from vitalik, but the organization that started writing about this is called radical exchange.

N

That organization is the uh same organization that did the yeah. Thank you, zach. That did the that expanded on the ideas of vitalik for quadratic funding. So that's radical exchange, which is underlying bitcoin and uh um pomelo. So the same organization that worked on that, so it gives a link to vitalik again it gives a link to a concrete use case. It opens the door and we have somebody in the house now.

N

That's passionate about this, like zach mentioned towards something that we've now seen has organizations and people behind it that might be able to actually push this idea forward. So if we attach ourselves to something like that, if the opportunity presents itself this, um this potentially could be quite beneficial to eos, to explore, or for trustee vm, to explore going down that path and being one of the chains leading the implementation of this particular concept.

A

Great and that actually kind of answers, b, andrea's question that he asked about an hour ago in the stream chat, saying that the eos main net could benefit from the presence of some nfts. You know that gives you get, gives the owners some benefits by holding them access to events, chats, etc, special tools. So I guess this is kind of in that line.

A

um Right now, on eos we do have uh the pomelo nfts uh gives you, you know profile picture privileges, but it's mostly cosmetic uh there's the boyd avatars that the boy team has said that they're gonna be required in order to access uh more void universe applications in the future, and now we've got some discussions around soul, bound tokens as well.

A

So that's interesting to see that that's all all coming together. uh Hopefully that answers a bit. Your question uh be andrea. um Let's see in the stream chat that we have any other topics brought up by some people.

N

Yes, aaron actually aaron provides really good. It's important to note that soul, bound tokens are just a theory at the moment, they're possible in practice. As far as I can tell correct, this is still very much um an idea.

E

Well, yes, or no, I would say it's.

N

That sour um there are potential implementations of them that we can see, but it's yes, it's still very much at the forefront of what's being done on on blockchain as a whole and that's what's exciting about it is that if we could position eos and if we have people within the community that are passionate about this, if this becomes a thing, eos could be one of the places where that type of technology and that type of of whatever pioneering attack comes from.

A

Good stuff, um continuing here on the chat uh we've we have uh jay taylor, asking some questions about the even july, 9th election and uh he's wondering if that's postponed or not, I'm not uh up to date. On that topic, I don't know. Do we have any eden chief delegates in the house right now?

A

I don't think so. Chris barnes is not with us here uh anymore either. So I'm not sure we'll be able to answer your question at this time.

G

I did um mrs dogman here uh I I spoke with michael o'sullivan during the town hall on sunday and he said that they are aiming to and planning to have the election still on july 9th. So it's not 100 sure, but he thinks they'll be able to do it.

A

Great july 9th is a saturday in three saturdays, so in about two weeks, two and a half weeks. uh So for those of you who are eden, members remember to sign up uh to that election.

A

A

Okay, cool, let me go check. My list of topics see uh what we've got here. uh We talked about trustee vms co20, it's good stuff. I guess in the same kind of vein as the the height the esteban hype for trust evm.

A

We also have some hype from mathias uh who's been working on zeos, so they've been uh double recipients of pomelo grants season, one and season two and they just released their white paper, and I had a nice little tweet here. I wanted to share uh this. Tweet is actually uh from eve from a few days ago. I'll share it in the chat here. Eve says: zeos is an exciting project that brings private transactions to eos.

A

Congratulations to matthias and zio's team on the milestone, I'm especially excited to see your progress after you went through two seasons of pomelo grants and the community eos community rallied behind you and then matthews replied. Thank you eve. I'm blown away by the support I received from the community thanks to pomelo grants, I'm now able able to develop full time for eos.

A

Definitely worth a few air horns, love to see these types of success stories and if you uh check out the at zeos on eos twitter account you'll be able to find um some updates, including the white paper that they released uh two days ago. So, if you're interested in privacy on on eos definitely check out uh check out this twitter, follow them and read the newspaper.

A

The white paper.

A

um Okay, what else did we have here? We had uh a very interesting tweet actually from well eve again, but regarding oci hiring some eos devs for a new metaverse game. So I'm not uh not, I'm not sure what what these meta various games uh imply. I'm sure uh eve would share more. If he can. I don't think he can at this time.

N

Just that has nothing to do with us. I don't know what they're talking about uh so.

A

E

N

That I can't share, I believe, that's another project that they're working on which isn't ours that they just added in there, which is great but cool, yeah. There yeah it's nothing to do with uh the enf. As far as I.

J

Know yeah they're they're hiring uh eos devs, which is great they're building something for eos, but they have other clients like. um I guess the metaverse project is not any way shape or form related to the enf, and I personally don't know what the project even is um they're kind of under their own working agreements with anyone that they contract for so it'll, probably be public when it's public but yeah completely separate, but great that there's um companies hiring uh eos developers. That's the that's.

J

The bigger news is that there's multiple projects hiring every uh team that participated in some of these working groups, especially the ones that have continued work or the teams that are um bidding for um the rfps through the coalition like there's, so many teams hiring right now. I know eos nation, uh you guys hired a bunch. I know uh aaron, I believe, is still trying to increase his technical team from last. I've uh spoke with him and there's many other teams as well, so to see another.

J

Yet another team who's, not a block producer, not like uh I mean they've, been in the eos io ecosystem for a while, but not so publicly in eos, uh but to see them hiring uh eos, specific, uh smart contract developers for some game is is quite exciting because I'm looking forward to finding out what that game is.

A

Yeah me too, so the the uh the tweet from object computing, which is the oci twitter account he says. Would you like to work on projects like these every day, advanced, eos, smart contracts, popular metaverse, game, blockchain, based exchange trading assets based on asset characteristics, and they encourage people to apply today. So that's super exciting. uh I'm really looking forward to see what this metaverse game, uh that they're building is all about, whether it's from an existing project on eos or maybe a new one or maybe a multitude.

N

Or they're, just talking about generally blockchain, has meta versus. Would you like to come work in blockchain, that's also possible. No.

A

Yes, no, no, no they're, definitely.

N

Working on a specific.

J

I

The on anyone's.

N

Parade but that's also possible, I think for me one one of the the things about that particular tweet. That really got me excited just like what zach mentioned is.

E

N

The context of the current market that we're in which is obviously not.

A

N

Market right now, it's clear that we're in a bear we've been in one for a while eos is in a position, as you know whether it's the enf or whether it's people that have been benefactors of the various funding mechanisms that are now being present on eons, like like eden, like pomelo, like the grant framework, whether or not the direct grant recipients like zap, mentioned that the working groups and such certain block producers oci people are hiring, there's, there's money going towards building in a bear market.

N

For me, that's the most exciting thing, because that's the most important time to be able to be deploying here to to have the luxury essentially of being able to deploy capital um in a time where there's tremendous opportunities, the costs are definitely lower and alternative.

N

Blockchains right now are cutting, so we've all seen coinbase, I think it's 20 cut. There's a bunch of other entities within the space that have been cutting cutting cutting and eos is in in the opposite side of things it's grown. Businesses within eos are growing and in part it's because eos doesn't have any liabilities.

N

So when we look at other foundations, for example during the bull market, they entered into partnerships and into agreements and those partnerships and agreements typically will be over multi-year period. So, let's say they've come into an agreement, or a partnership and they're now bound for the next four years to actually pay out a certain amount of tokens linked to fiat evaluation month over month, they're now having to sell more tokens in order to meet those um those agreements which causes further downward uh pressure.

N

On their token, whereas in our case with eos, the network itself literally has no liabilities, and so we we are in a position where we're extremely resilient.

N

If you, if you haven't, figured that out by now, I'm not sure where you've been in eos, because that's one, I think, of our super powers, but also we're in a position where we don't have liabilities. We've learned to essentially survive kind of the cockroach strategy, using or or having access to very little funding and access to assets, and now we're capable of building with the very little assets that we have amplified by what the network has has made available through the enf.

B

N

So we're in incredibly good position and that's really what excites me about all of this right now.

A

Absolutely and yeah, so I'm going to share a few more of your tweets eve that you made in the last week. I think they're really good they're really exciting. uh Hopefully you don't rain on my parade on all of them uh here we have one from a few days ago um and that's awesome think tanks are an underestimated business development weapon. We spent over a million dollars to sponsor six different, think tanks to enhance the user experience and to push web3 into the forefront and of innovation.

A

Here's a thread on what we learned, so we re so eve continues. We funded these think tanks, which we call working groups to gather research and propose improvements to the eos network after identifying the key areas to focus on. We collaborated with the most qualified people. The final deliverable was six academic research papers.

A

The six topics we focused on are client-side integrations security, eos, core biz, dev, apis, defy risk mitigation and eos yield opportunities to maximum maximize tvl, and then the threat continues with kind of a brief explanation of all of these things, obviously linking to all of the blue papers. So I thought that was a really good, really good thread. It got some nice, some nice action on on twitter uh over 200 likes, 86, retweets, etc. I linked it here in the stream chat.

A

I encourage you guys to like it retweet it as well share the good news. Oh I see one more like thank you. Whoever gave that extra like um uh yeah, okay, another another another tweet from eve recently. That was pretty good. um He says that gaming is one of the natural use. Cases for crypto. Eos is already home to one of the most popular blockchain games in the world upland, uh but there's much more on the horizon.

A

Keep an eye out in the news for eos over the coming days, um so also uh very exciting, uh tweets, exciting progress coming to eos um all right and uh yeah. I think those were some of the some of the tweets. I wanted to highlight uh talking about upland, actually um there's a recent interview that they did uh during um for the last vegas release. So a plan uh is kind of like uh they release different cities. They open up different cities on their map.

A

They they released las vegas uh recently, and you know they were bragging that their release went flawlessly and they were able to mint 60 nfts per second. You know when they launched this this new city in their game, and you know there was no no gas, no extreme gas prices, no failed transactions.

A

Everything ran smoothly right, 60 nfts per second, you know if you extrapolate that uh for a full day, that would mean over five million nfts minted. You know no problem now. I don't think that this they kept up this rate. For that long, I'm not sure how long they kept up this rate.

A

But you know it just demonstrates the power of eos, the stability of eos and the fact that these massive games can run on eos and do big launches with super high activity in a constant in a small amount of time and still be able to deliver what they want. So I thought that was really good, going to give eos a round of applause for being able to support a game like a plan.

A

um Okay, so yeah, so I think that kind of covers uh most of the topics I wanted to share. I guess quick update on the eosio coalition meetings. um Those were not published for the last few weeks because they were working on the very secretive rebrand for eosio.

A

Unfortunately, the rebrand is still not out yet I'm very very excited to learn what that is, but just wanted to mention that these uh eosio coalition meetings are now back to being published. So you can find those on the everything eos youtube channel all right, so that covers it for the topics that I wanted to cover, um anyone here in the community want to jump in, say: hi share a comment: ask a question share some updates.

A

This is the time to do it.

A

Doug you sound like a chipmunk.

P

I wasn't sure if that was one of your sound effects.

A

Nope, that's the custom, doug sound effect.

A

A

Is that it guys, are we wrapping it up? Last chance, let me see here we got some more more chatter.

C

I thought you wanted to talk about some uh more crypto eye topics this week.

J

That was before we knew it was gonna get two and a half hours, though.

A

Yeah, that was before uh it was gonna, get two and a half hours yeah, I mean yeah lots a lot lots going on uh in the crypto markets uh in general. Obviously, last few weeks seen a lot of mayhem seen a lot of chaos, we've seen a lot of of protocols, kind of showing their true colors when they really, you know, get into highly stressful or risky situations.

A

So you know I just I was talking with zach about this earlier today. It's just. It feels like a lot of these problems that all these new layer ones are are facing now we're kind of already faced and handled by eos. uh You know a year or two ago um and it feels like. Finally, uh you know all the hype for these new l1s, which were supposed to be perfect and not have these flaws and blah blah turns out. A lot of them are centralized turns out.

A

A lot of them are flawed and you know we're seeing a lot of these cracks being exposed in these other networks. uh Obviously, it's not good for the crypto space in general, uh but kind of felt vindicated.

A

um You know that that eos is not having any of these issues at that moment, um we've already dealt with with some of these issues, so I don't know if you want to add more to that to zach or if anyone else wanted to jump in share some of their thoughts on what's going on in the wider crypto markets,.

A

um Yeah, those are just some of the thoughts that I I had uh over the last few days.

A

We've had daos voting to take over whale accounts. We've had d5 protocols turned turning out to not be very decentralized at all uh solana, obviously taking breaks every few days for a few days or whatever. It is um been very, been very, very interesting to see it see all this action.

N

Is not even on the joke was that solano was open like nine to five monday to friday, and it's not even that anymore they're like having summer holidays they're on vacation most of the time, yeah.

A

They're on vacation and then when they come back from vacation, they need to freeze huge accounts in seoul and because they're afraid that, if that one account gets liquidated, it's gonna both crash.

C

A

And the network will shut down, um so that was pretty pretty uh interesting to see how they they reacted. To that um what else happened? There was a dao that decided to vote to not fully uh an early investor, their full 30x return, because the dow felt that this early vc investor did not provide enough value outside of the original funding, which really was not part of the agreement. But the dow just still decided to block block that those tokens.

N

uh Well, on that, one to add a caveat, the investor in question agreed to the terms ultimately for my understanding, so the.

O

N

Actually agreed um somebody correct me if I'm wrong, but the investor agreed with that proposal. They went back and forth. I think there was like a they offered. Three percent came back with, eight percent went back to whatever. Ultimately, they both agreed.

A

Okay- okay, that's not not so bad, then, but uh yeah. Lots of uh you know lots of things going down in the markets. I think we're gonna see a lot of networks completely blow up and shut down over the next year. I think you know we're gonna see a consolidation of a lot of these l ones. uh Obviously I don't think eos is at risk uh in that regards we've, like you've, said we're very resilient.

A

uh We've been through a lot of these issues already um and we've come up with solutions and with the blue papers. A lot of other solutions are currently in the works. um So it's uh you know at the same time depressing for these. uh You know crypto prices to be at the end of 2017 levels, but also I'm very excited for for what the future holds uh for eos in the coming months and yeah got my popcorn ready for more craziness in the crypto markets in the coming months and weeks.

A

What have you guys been seeing around crypto twitter lately? Any stories you want to share you guys want to share jump on in.

N

Maybe just one thing to mention: um dropping, I guess some kind of alpha there's been a there's, been discussion. There's a couple of things: um the person here and I'll wait for the other one, um but there's one thing that we've been working on for a while um and that was brought up by uh by eden members, for example. If for those who are watching the eaton uh meetings, is that eos hasn't had a physical presence at conferences around the world very much and that was by design so to put bring it back in context.

N

If you think back at last september, enf was really just zach, and I, and at that time we didn't really have any formal processes in place. We didn't really have any frameworks in place. It was literally just him and I, um and so we were sitting on a mandate from the block producers, the token holders, the stakeholders of the network, but we didn't really have the actual uh manpower or human resources to be able to affect a lot of what it is.

N

We wanted to do and we made a conscious decision at that time, and we had that discussion that if we were to start going on the road and attending conferences, two things one is then, who would be back at home, building out the systems that you now see eight months later having been built, but also if we were at those conferences, what would we be talking about? What would be be showcasing so we'd be telling them we'd be telling developers we'd be telling investors and businesses and individual what come and look at eos.

N

Just trust us there's something that's going to happen in the next eight months like we're going to be building grant frameworks in the next eight months. We're going to be having pomelo in the next couple of months. We're going to have this that, and you know whatever it is. We wouldn't have had much to showcase for it and when people would have started looking into eos.

N

What they would have seen is that for a year or two before there was a significant downtrend in terms of development from the main contributor, and they would have seen that in terms of daily usage having gone down in terms of value, obviously gone down and such, and so we didn't think that that was really appropriate to do at the time.

N

And so, instead we spent time building and we spent time building the foundations for the foundation, building out the frameworks that lead to what you see today with having a team in place having different funding bucket mechanisms having actual frameworks around those mechanisms, so that when we do go back on the road that we can actually point to these initiatives that are no longer theoretical. But that have been running for a while are very concrete.

N

And when people are interested, we can actually point them to it and there's a mechanism to to be able to process whoever's is looking to participate in the ecosystem. So, having said that, we've been working in the background. I've been working in the background for a while with one of the partners that actually stands out of the the original blueprint for blue papers to be able to have an in-person physical presence boot on the ground, ongoing at conferences throughout the world.

N

um As of a certain time, so we've been working on this for a while, so that we already have a timeline. We already have the events that we'll be attending. We already have that laid out. We already have the branding the marketing. We already have the vision of what people will be talking about. We already have basically the the infrastructure for that to then become beneficial, so I think it was trimbot that was mentioning a few weeks back.

N

A lot of the capital that you spend on marketing at the onset really goes unnoticed, because a lot of it is building the foundations built, laying out the groundwork for them that to be amplified and that's what we've been working on so as of september. Obviously we mentioned token 2449, which is one of the events that we'll be attending and we're title sponsor.

N

We also mentioned- I believe that was made public, that the likelihood is that I'll be attending um upbeat dev conference in seoul the week before, but we also have a list of 10 or so events that we'll be attending between the month of september october november december and ongoing in a particular geographic location. So I'm not spilling all the beans right now, but that geographic location is quite wide and then we also have another team.

N

That's been pitching this very idea, but in a different geographic location, so that eos can effectively have within the next couple of months boots on the ground constantly throughout the world, so that most of the events that you hear of eos will be formally represented.

N

Man that booths with with everything that you would expect from a layer, one blockchain to be able to be in presence and in attendance, so that.

F

N

That is very much happening, and uh that is extremely exciting, because once that happens, all the work that we've been doing will now be made public effectively for the rest of the world. That really hasn't been paying attention, and all this in a bear market where everybody else is actually cutting down on costs, letting go of people being able to produce less. We've been effectively being able to be very, very good with our finances to be able to produce more when the time is right and that time is now.

B

L

Yeah baby thanks.

A

Patrick I was slow on the trigger there.

G

B

Yeah guys that's the perfect time for collaboration the perfect time for more education.

B

However, we are some struggle with the price, as always, the price not define us and all will come align on september, 23rd, 24 and after yield, plus trust, vm, mandel, equal, more tdl and more liquidity on chain. Eos is the settlement layer, the exponential operating system, the entry point to multi-chain protocol, full rpc compatibility, pomelo, the reputation engine engine, the hidden factor as a catalyst to more collaboration.

B

We are here for the long term, so go eos no time for complaining. The time is to join common force in a coordinated effort. So we have the narrative. We can reach the influencers. We have to go outside.

B

M

A

Thanks for joining everyone, that's.

M

A

That was a great great, ending, patrick, absolutely wonderful,.

D

A

D

A