►
Description
Zack Gall is joined by two of the Yield+ Blue Paper co-authors, Denis Carriere and Joe Louis, to take a deep dive into all the possibilities Yield+ has to offer as well as the differences between Yield+ and other DeFi protocols.
Yield+ proposes a custom Liquidity Rewards Program for the EOS Network. Its goal is to adapt and improve upon existing programs to benefit the EOS DeFi ecosystem as a whole, bring more activity on-chain, and increase earning opportunities for users.
Download the Yield+ Blue Paper
https://eosnetwork.com/blog/eos-yield-blue-paper/
Timestamps
00:00:00 Start
00:00:19 Introduction with Denis Carriere and Joe Louis by Zack Gall
00:02:29 Meet Joe Louis by Joe Louis
00:08:21 Yield+ Origin story by Denis Carriere, Joe Louis
00:15:40 What separates Yield+ from the competition by Denis, Zack
00:20:46 Multiple on chain reward protocols by Denis Carriere
00:25:30 Yield+ Application process and TVL requirements by Denis, Zack
00:32:34 Expected Yield+ delivery date by Denis Carriere
00:35:00 What's possible with Yield+ by Zack, Dennis
00:42:42 Creating Yield+ and EVM excitement by Zack, Joe
00:47:50 Getting EOS tokens back on chain by Denis Carriere
00:50:37 Wrapped Staking by Zack, Denis
00:53:56 Defibox liquidity by Zack, Denis
00:55:25 Wrapping it up with Joe’s perspective by Joe Louis
Everything EOS is the official media channel of the EOS Network Foundation (ENF). The EOS Network Foundation coordinates financial and non-financial support to encourage the growth and development of the EOS Network. We’re harnessing the power of decentralization to chart a coordinated future for the EOS Network as a force for positive global change.
// 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
So
we
were
just
looking
at
well
if
the
liquidity
incentive
program
would
be
released.
What
are
the
metrics?
What
is
the
tvl
relative
to
market
cap?
Would
that
increase?
Would
it
increase
the
on-chain
activity?
Would
it
increase
the
tvl
and
the
answer
was
always?
Yes,
it
does
if
we
reward
people,
you
know
if
you
reward
protocols,
activity
comes
welcome
back.
B
To
everything
eos
the
longest
running,
eos
podcast,
I'm
here
today
with
denny
carrier,
the
cto
of
eos
nation,
he's
a
founding
member
of
eos
nation.
Since
the
genesis
block,
formerly
a
geospatial
engineer
and
with
the
canadian
armed
forces,
open
source
advocate,
defy
expert
smart
contract
developer
for
a
different
eos
reward
system
that
includes
palmella
season,
two,
which
is
distributed
over
1.2
million
dollars
in
public
goods.
Funding
built
proxy
for
nation,
with
over
10
million
eos
staked
to
it
with
their
proxy.
B
Also
joe
louis
eos,
og
super
knowledgeable
if
you're
in
the
eos
community
strong
background
and
regulatory
compliance.
But
what
is
your
background
joe?
This
is
probably
the
first
public
appearance
I
I
think
you're
definitely
making
on
everything
eos.
But
I
think
this
might
be
your
first
interview
that
I'm
aware
of.
C
Yeah,
I
think
a
lot
of
people
confuse
the
desire
to
have
some
anonymity
is
something's,
not
right,
something's,
off
or
sketchy
or
under
the
radar
about
this
individual.
When
I
I
feel
like,
I
may
be
not
the
odd
one
out
in
this
area,
I
think
anyone
in
the
crypto
landscape
probably
would
embrace
at
least
a
little
pseudo-anonymity,
but
I've
latched
on
to
joe
louis,
and
that's
who
I
am
it's.
B
Your
reputation,
though
you
have
an
identity,
your
identity
is
joe
louie.
Everyone
knows
who
you
are,
and
over
the
years
like
everyone
knows,
you
carry
a
very
strong
opinion
when
the
yield
plus
working
group
was
formed.
I
think
you
were
the
only
person
that
wasn't
involved
with
an
actual
d5
project
or
a
block
producer
or
some
other
entity
within
the
ecosystem.
B
You
came
in
as
this
kind
of
mercenary
because
you
have
this
special
skill
set
you're,
one
of
the
most
knowledgeable
people
in
the
regulatory
and
compliance
aspect
of
all
of
the
blockchain
space,
but
most
definitely
d5.
I
could
recall
over
the
years
when
people
were
keeping
tabs
on
different
things
happening
in
like
congress
or
the
senator
different
lobbyist
groups.
B
C
Yet
at
that
point,
and
so
I
was
pursuing
a
doctorate
in
medical
field
at
that
time
and
during
the
daytime
in
class,
I
was
trading
all
the
time
I
had
my
laptop
open,
but
I've
got
bitcoin
wisdom
up
watching
charts
because
tradingview
didn't
have
these
kinds
of
fancy
charts
available
for
the
crypto
ecosystem
at
the
time.
So
I've
got
bitcoin
wisdom
up.
I'm
running
all
these
charts
on
one
side
of
my
screen.
C
I've
got
some
word
document
from
the
professor
on
the
right
side
of
my
screen
and
maybe
a
game
in
the
background
or
something,
but
it's
just
watching.
My
trades
became
predominantly
what
I
was
up
to
during
my
graduate
program
and
and
then
after
graduating.
Now
I
have
to
use
this
degree.
I
have
to
go
into
the
medical
field,
but
all
the
while
I'm
in
these
trading
chats
and
I
ended
up
connecting
with
an
exchange
operator.
C
That
said,
they're
always
looking
for
good
people
and
I
thought
gosh.
You
know
what
I
could
rework
this
crazy
resume.
That
has
nothing
to
do
with
crypto
into
something
to
do
with
crypto,
and
I
think
I
just
really
had
a
knack
for
writing
passionately
about
bitcoin
and
litecoin
and
what
the
the
philosophy
of
it
all
was
and
and
hope
for
the
future,
and
so
that
ended
up
working
after
a
series
of
interviews
and
instead
of
going
into
medical
after
graduation,
my
first
job
out
of
graduate
school
was
working
at
a
crypto
exchange.
C
So
it
was
a
skeleton
crew.
You
made
up
your
own
position,
but
everyone
has
to
do
just
about
everything
you're
on
call
24
7..
I
used
to
lay
down
next
to
my
fiance
at
the
time,
with
an
ear
bud
in
my
right
ear
at
night
and
I'd
try
to
sleep
at
night
like
that,
and
then
an
alarm
would
go
off
or
a
ping
from
slack
and
I'd
check
it
just
obsessively
check
and
monitor
and
keep
the
eye
on
things.
C
C
The
exchange
I
was
at
all
of
a
sudden,
went
from
millions
in
volume
a
day
to
billions
per
day
in
volume
it
was
coming
and
coming
and
then
all
of
a
sudden
bitcoin
broke
these
previous
all-time
highs
and
exchange
volume
across
the
board
is
what
a
lot
of
those
exchanges
are
now
considered
your
tier
one
exchanges.
They
survived
that
that
bull
run
back
then
and
they've
been
cemented
into
their
positions
now,
but
that
experience
brought
all
the
policy,
all
the
regulators,
all
the
politicians
and
the
lawyers
and
traders
attention
to
this
thing.
C
That
was
moving
so
fast,
but
nobody
had
any
rules
about
it.
Really,
regulations
that
were
applying
to
exchanges
at
the
time
were
really
just
expert
advice,
expert
opinions,
securities
lawyers
trying
to
give
their
opinions
at
the
time,
but
nothing
was
really
established
in
the
regulatory
landscape
for
how
to
treat
these
assets,
and
so
here
we
are
now
in
2022
and
you're,
seeing
it's
almost
a
daily
occurrence.
There's
some
news
about
regulations
changing
or
bills
passing.
Just
this
morning
you
saw
how
new
york
effectively
banned
they're,
trying
to
ban
mining
of
proof-of-work
coins.
C
It
still
has
to
go
past
the
governor's
desk,
but
that
kind
of
thing
became
super
important
to
me
years
ago,
because
being
involved
in
crypto
became
viable
to
me
as
a
full-time
job
essentially
independently.
I
didn't
work
at
the
exchange
anymore.
I
left
the
exchange
and-
and
I've
been
for
years
now,
just
myself
and
in
crypto
exclusively,
but
at
that
point,
if
you're
gonna
do
that,
you
need
to
become
your
own
expert
witness
as
far
as
taxation
and
policies
and
regulations,
so
that
you
can
look
down
the
road
a
little
bit
about
what's
happening.
C
What's
approaching,
because
at
some
point
you
do
have
to
realize
there
are
a
lot
of
people
that
are
just
playing
trading
a
little
bit
here
and
there
they're
hoping
something
moons.
But
someone
in
my
position-
I
you
know
kind
of
staked
my
family
on
it,
because
I
went
this
independent
path
of
being
full-time
in
crypto
and
not
being
connected
with
an
organization
or
working
for
anyone.
C
B
I
think-
and
I've
thought
this
for
years,
but
the
eos
ecosystem
has
been
much
better
off
because
of
you.
You
set
a
key
word
while
telling
your
story
and
that's
passion
and
with
all
of
the
working
groups
that
the
nf
has
established.
I
think
passionate
people
and
passion
for
whatever
the
given
subject
of
that
particular
working
group.
B
A
Yes,
it's
a
little
blurry,
but
let's
say
I
would
think
the
the
wheels
were
starting
to
run
when
block
one
proposed
their
staking
pool
so
dan
and
block
one.
They
proposed
sort
of
a
six
six
pools
with
different
time
intervals,
took
a
little
while
to
get
that
paper
out,
so
they
delivered
a
paper
explaining
that,
but
it
never
really
came
to
light
that
implementation.
A
So,
after
after
that
hype
of
after
we
were
expecting
some
sort
of
staking
pool
or
some
sort
of
yield
return
on
the
system
level
contract,
it
never
came
to
light.
It
never
got
implemented.
So
after
that
we
were,
there
was
a
sort
of
a
void
of
the
yield
void
of
people
wanting
to
earn
yield
on
eos,
but
no
mechanisms
to
do
it.
I
guess
most
of
us
that
are
in
the
device
space
we're
talking
about
what
should
we
do?
There's
all
sorts
of
different
protocols
out
there?
Do
we
build
a
protocol
at
the
system
level?
A
Do
you
build
a
stable
token?
Do
you
build
any
types
of
d5
protocol
and
it
just
got
us
thinking
about
how
to
go
and
build
something
at
the
system
level
or
at
least
the
reward
system
contract?
And
then
that's
when
sort
of
enf
said?
Oh,
we
should
spin
up
another
working
group,
a
yield
plus
working
group
and
then
we're
like
who
else
would
want
to
participate
with
this.
A
So
then
we
started
getting
different
d5
protocols,
so
d5
box
was
called
to
ask
if
they
want
to
participate
pizza
with
their
pizza
lending
the
origin
team,
so
the
u.s
titan
they've
also
joined
on
the
technical.
They
have
a
lot
of
team
members
that
have
phds
and
mathematics,
so
they
joined
for
the
economic
side
of
things
and
we
end
up
forming
that
yield
plus
group
and
within
an
hour
of
them
saying
hey,
do
you
want
to
participate
in
the
yield
plus
they
like
called
me,
and
then
they
say
all
right.
A
B
Plus
I
mean
I
remember
the
first
couple
weeks:
the
group
wasn't
official,
but
we
would
meet.
I
think,
every
monday
morning
and
after
about
three
weeks,
I
think
everyone
had
a
pretty
good
idea
of
what
the
requirements
would
be
and
everyone
bought
into
it,
because
it
was
a
huge
effort
to
compile
all
of
this
research
and
written
work
collectively
thousands
of
hours
and
even
now
the
work
hasn't
really
stopped.
Since
the
paper
came
out
because,
what's
proposed
in
the
paper,
is
some
oracle.
B
What
happened
to
their
market
cap?
What
happened
to
their
daily
transactions?
What
happened
to
their
daily
active
users
from
the
time
that
this
program
started?
It
was
very
data
driven
and
all
of
the
charts
are
in
the
blue
paper.
It
looked
at
matic,
look
at
solana,
and
that
was
the
idea
is:
how
could
we
imitate
what
they
did
and
do
it
in
the
best
way
possible,
because
we
could
take
one
thing
from
here:
one
thing
from
there
put
our
own
flavor
on
it
with
the
power
of
eos.
B
C
I
was
brought
on
more
specifically
to
talk
about
regulations
if
there's
anything
any
tax
implications
or
just
provide
some
idea
to
the
reader.
What
goes
in
into
a
program
like
this
beyond
just
issuing
a
reward
to
qualifying
participants
and
and
one
of
the
big
components
of
this
program-
is
designing,
a
treasury
that
everything
feeds
off
of
and
that
treasury
really
has
a
lot
of
implications,
put
on
it
by
the
global
regulatory
policy
and
that's
rapidly
evolving
around
the
world.
So
it's
important
to
have
a
perspective.
C
I
think,
on
that,
by
reading
the
paper
and
understanding
this
program,
rather
than
just
here's
a
program,
it's
going
to
reward,
qualifying
dapps
and
we're
going
to
grow,
tbl
and-
and
I
think,
there's
a
rationale
for
having
some
perspective
on
what
are
the
implications
of
doing
something
like
this?
Is
there
a
different
way?
We
should
do
it?
B
Yeah
so
part
of
the
reason
we're
recording
this
is
one
I
don't
expect
everyone
in
the
community
to
sit
down
and
read
a
70
page
research
document.
So
there's
been
a
lot
of
questions
in
the
telegram
groups
and
on
discord
of
one
thing,
like
the
tldr
version,
it's
really
hard
to
summarize
everything
into
a
few
sentences,
but
you
said
it
there
joan.
B
We
said
it
throughout
this
conversation
is
it
was
an
initiative
to
increase,
defy
tvl
activity
on
chain
and
create
a
rewards
mechanism
that
could
reward
people
for
locking
up
tokens
or
putting
tokens
to
work
in
defy
in
liquidity,
pools
or
in
lending,
and
just
really
increase
that
on-chain
activity,
and
it
plays
into
a
lot
of
the
things
that
people
want
to
see
in
the
community.
There's
often
people
who
talk
about
like
with
centralized
exchanges,
for
example.
How
do
we
get
tokens
off
of
those
exchanges?
B
Well,
you
give
them
something
to
do
on
chain
and
that's
what
I
envision
that
this
program
once
it's
put
into
action
when
the
portal
and
smart
contracts
are
live,
is
it's
going
to
create
multiple
opportunities
to
generate
yield
at
all
different
risk
levels?
Also,
and
going
back
to
the
origin
story
that
denny
was
talking
about.
Initially,
it
started
with
the
staking
pools
proposed
by
the
pbe
in
block
one
and
what
they
were
proposing
was
something
base.
B
Layer
is
one
option
kind
of
vanilla,
whereas
with
yield
plus,
because
it's
an
actual
program
that
multiple
d5
protocols
can
take
part,
and
it
creates
a
very
robust
system
where
it
gives
multiple
options.
Instead
of
just
staking
into
wrecks
and
collecting
a
direct
drip
of
yield,
you
could
actually
put
your
eos
to
work
in
many
different
ways
and
even
in
some
ways,
we
can't,
even
probably
think
of
today
so
denny,
since
you
also
are
familiar
with
all
of
the
other
protocols
and
what
they've
done
and
what
led
up
to
this.
A
The
comparison
like
a
lot
of
the
other
alert
ones
have
successfully
done
successful,
tvl
liquidity
incentives
and
that's
why
some
of
our
research
is
actually
based
on
those
success
stories
right.
If
you
announce
a
tvl
reward
system
like
a
liquidity
incentive
systems
and
the
economic
activity
increases
and
market
cap
increases
and
price
increases
and
everything
increases,
then
every
single
their
one
should
be
providing
liquidity
programs.
So
we
were
just
looking
at
well
if
the
liquidity
incentive
program
would
be
released,
what
are
the
metrics?
What
is
the
tvl
relative
to
market
cap?
Would
that
increase?
A
Would
it
increase
the
on-chain
activity?
Would
it
increase
the
tvl
and
the
answer
was
always?
Yes,
it
does.
If
you
reward
people,
you
know
if
you
reward
protocols,
activity
comes
right.
If
there
is
no
economic
incentives
to
deploy
a
protocol
on
a
particular
chain,
it's
very
difficult
for
those
protocols
to
pick
that
chain
to
deploy
their
heart
and
their
energy
their
time
their
developers
and,
on
top
of
it,
the
liquidity
that
will
flow
into
that
protocol.
B
You
could
do
high
frequency
trading.
There's
all
of
these
things
that
are
possible
in
eos
that
are
not
really
possible
on
these
other
chains,
when
they're
at
peak
usage
and
and
that's
when
their
fees
go
up.
But
we've
seen
in
the
past,
like
eos,
can
go
up
to
over
100
million
transactions
per
day
and
with
the
new
resource
model,
which
was
implemented
after
all
of
the
idos
things
like
even
at
100
million
transactions
per
day,
the
fees
would
still
really
not
be
they'd,
be
negligible
compared
to
any
other
chain.
B
So
I'm
excited
to
see
what
happens
when
the
activity
increases,
but
you
don't
hit
the
same
congestion
and
fee
issues
that
we've
seen
elsewhere.
I
think
the
other
thing
that's
unique
is
that
the
yield
plus
working
group
itself,
part
of
the
application
process,
part
of
the
approval
process
and
then
for
the
fund
distributions
with
the
enf.
It's
like
a
coordination
effort.
Our
coordination
was,
we
brought
together
all
of
the
smartest
people.
We
gave
them
funding
to
develop
the
ideas
and
put
pen
to
paper
to
really
explain
the
thought
process
behind
this
liquidity
program.
B
B
Within
these
groups
we
presented
all
of
the
data
and
that's
what
came
out
with
blue
paper
and
it
everything's
structured
in
a
way
because
of
how
joe
suggested
with
the
treasury
management
and
how
the
multi-sigs
are
going
to
work.
It's
doing
it
in
as
future
proof
of
a
way
as
possible
to
stay
regulatory
friendly
over
the
long
term,
rather
than
with
a
lot
of
the
other
programs,
the
foundations,
the
king
maker
and
decides
who's
approved
for
the
liquidity
program.
It's
their
own
decision.
B
How
much
each
gets,
whereas
with
with
this
what's
proposed,
is
the
time
weighted
price
oracle.
And
then
that's
what
decides?
The
distributions?
The
approval
process
is
a
multi-sig
of
many
different
parties
and
a
lot
of
it's
smart
contract
driven
and
correct
me
if
I'm
wrong,
but
not
all
of
the
other
incentive
programs
on
the
other
chain
are
even
smart.
Contract
driven.
A
Yeah,
that's
correct,
so
the
big
thing
is
is
having
everything
on
chain
that
everything's
provable
with
a
smart
contract.
Doing
those
calculations
of
those
tvl
oracle
data
points
some
other
chains
that
have
these
reward
systems.
What
they
would
do
is
they
would
use
d5
aggregators
that
are
off
chain.
However,
those
defect,
aggregators
are
still
quite
accurate
and
they
would
still
have
some
good
reporting,
but
it
would
still
be
off-chain
data
points
which
could
be
manipulated.
A
Different
assets
can
be
maybe
added
to
the
tvl,
so
they
would
boost
the
tvl
reporting
based
on
a
code
issue
or
a
plug-in
or
an
adapter
issue.
I'm
not
too
sure
exactly
how
they're
solved
reporting
that
is
like
inaccurate.
They
might
have
different,
but
they
don't
explain
it
so
they
just
they
have
this
one
picture.
C
A
A
So,
I
think,
having
to
think
about
the
the
overall
mechanics
and
also
making
sure
that
the
yield
plus
paper
empowers
d5
protocols,
so
we're
really
trying
to
empower
d5
protocols
to
build
on
chain
so
how
we
do
that
trying
to
make
it
as
limitless
as
possible
so
as
much
diverse
different
amounts
of
protocols
that
can
deploy
on
chain.
But
the
goal
is
that
we
don't
want
one
one
product.
We
don't
want
one
lending
protocol,
one
swap
pool.
A
We
actually
want
a
lot
of
competition
and
a
lot
of
the
community
members
building
various
different
protocols
and
competing
against
each
other,
because,
as
you
build
a
lot
of
d5
protocols,
those
synergize
with
each
other.
So
if
you
have
two
or
three
or
four
different
swap
pools,
they
can
actually
trade
among
each
other,
which
increases
value,
increases
the
swap
fees.
It
increases
their
trading
volume.
So
having
multiple
different
protocols
available
on
eos,
all
being
incentivized,
you
can
do
lending
arbitrage.
A
You
can
borrow
here
and
deposit
there,
but
if
you
have
one
lending
protocol,
you
don't
have
choices
anymore.
You
just
have
to
deposit
there
and
that's
the
only
place.
So
I
think,
having
a
diverse
wide
distribution
of
different
d5
protocols
will
be
very
healthy
for
eos.
So
all
of
these
protocols
need
to
have
some
sort
of
baseline
minimum
tvl
and
there's
also
gonna
be
a
maximum.
So
we
don't
want
one
protocol
to
take
eighty
percent
of
the
rewards.
We
want
five
percent
here:
five
percent
there,
three
percent,
two
percent
and
small
amounts
of
rewards.
A
So
as
long
as
you
have
a
functional
website,
functional
smart
contract,
if
you
have
an
audit,
that's
a
positive,
because
if
you
are
expecting
depositors
and
community
members
to
deposit
assets
into
your
protocol,
it
would
be
a
good
idea
to
have
an
audit
and
make
sure
that
the
funds
are
safe.
Also,
you
could
register
with
recover
plus
in
case
there
is
an
issue.
Then
you
have
a
dedicated
team
to
help
you
with
the
recovery
process,
if
it's
even
possible
to
recover
funds
in
case
of
a
loss.
B
I
think,
with
recover,
plus
as
an
insurance
policy,
but
also,
as
you
mentioned,
creating
a
robust
ecosystem
rather
than
some
one
lending
protocol.
It
just
does
all
of
the
lending
it
limits
systematic
risk.
Also,
because
you
really
don't
know
something
could
be
exploited
until
it
is,
and
if
it
happens
fast
enough,
there's
no
guarantee
recover
plus
could
even
do
anything
but
by
having
caps
on
each
protocol
and
what
they
could
earn
like
the
level
of
tvl
they
can
get
to
before.
B
A
Right
now,
it's
all
configurable.
There
would
be
a
minimum
of
200
000
eos
in
terms
of
tvl
requirements,
but
that
could
also
be
a
mix.
So
you
can
have
tether
and
eos
as
long
as
your
eos
equivalent
is
above
200
000.
That
would
be
the
minimum
bar
and
up
to
6
million
eos
in
terms
of
eos
tvl
again
could
be
mixed
between
tether
and
eos.
Those
would
be
the
tvl
requirements
to
fit
within
the
system.
If
you
have
above
six
million
eos,
that's
fine
too
you're
just
gonna
get
capped.
Your
rewards
are
gonna.
A
Stop
at
the
six
million
mark
up
until,
if
ever,
yield
plus
increases
those
thresholds,
so
initially
yield
plus
will
have
a
limited
amount
of
eos
to
distribute
to
the
network.
So
we
can't
have
a
system
that
allows
100
million
eos
per
protocol,
because
there's
only
so
many
rewards
to
distribute
in
terms
of
the
application
process.
A
There's
gonna
be
a
portal,
so
there's
gonna
be
a
ui
like
a
website
that
users
will
be
able
to
join
in
they're
gonna,
be
able
to
put
their
name
their
protocol
type
their
website
audit
if
they
have
a
coin
gecko
listing.
So
if
you're
listed
on
coin
gecko
or
if
you're
listed
on
coin
market
cap,
all
of
the
sort
of
defy
analytics,
you
can
be
able
to
put
in
register
that
way,
we
can
have
an
aggregate
of
all
the
different
protocols.
A
We
can
make
a
lot
of
nice
sort
of
analytics
with
that
metadata
from
each
protocol
and
also
by
providing
more
information
to
the
portal
you're,
also
giving
depositors
more
information
of
oh,
this
project
is
listed
here.
This
project
has
an
audit.
This
project
has
a
discord.
Maybe
I
can
go
and
log
in
and
I
can
go
and
talk
to
the
team,
so
this
will
act
more
of
a
discovery
portal
as
well.
That
projects
will
be
able
to
list
their
information
for
their
projects.
A
Once
it's
submitted,
then
there's
it
could
be
a
review
process
with
the
yield
plus
auditing
team,
making
sure
that
the
smart
contract
is
in
fact
a
d5
project
making
sure
the
website
is
live
and
functional,
making
sure
that
all
the
credentials
kind
of
line
up
and
make
sure
that
it's
not
a
fake
project
trying
to
apply
for
yield
plus
and
also,
if
there's
any
issues
the
team
can
go.
Give
feedback
to
the
protocol
saying
you
should
fix
this.
This
link
is
broken.
A
It's
going
to
a
dead
link
stuff
like
that,
once
there's
approved
what
happens
is
there's
going
to
be
oracles
that
will
then
calculate
the
tvl
per
that
project?
That
project
will
submit
the
smart
contracts
and
treasury
accounts
that
are
related
to
to
their
project.
So
if
you're,
a
d5
swap
pool
you'll
have
a
smart
contract
with
your
assets,
you're
going
to
register
that
with
yield
plus,
then
the
oracle
system
from
yield
plus
will
collect
data
points.
Every
10
minutes
of
your
balances.
B
And
that's
it
and
the
oracles
on
chain
also
do
the
usd
calculations,
because
one
thing
that
I
like
is
that
everything's
measured
in
eos.
So
that
means
if
the
price
of
eos
does
go
up,
then
actually
the
liquidity
requirements
go
up.
Also.
So
if
it's
like
a
usd
eos
pool
and
the
price
of
eos
goes
up,
there'll
be
more
usd
in
the
pool
to
meet
the
same
200k
eos
threshold,
for
example,
correct.
A
You'll
have
to
be
incentivizing
a
mix
of
assets.
That's
why
I
think
a
lot
of
protocols
will
have
tether
and
eos.
Let's
say
if
you
hold
200
000
eos
in
actual
spot
eos,
then
you
don't
have
to
worry
about
hitting
that
minimum
requirement.
If
you
hold
200
000
tether
worth
of
eos
and
eos
goes
up,
then
you
might
go
below
that
threshold
and
you'll
have
to
you
know,
attract
more
tether
to
your
protocol.
A
But
if
eos
goes
up,
then
you
should
technically
also
attract
more
tether
if
the
price
going
up,
but
usually
the
assets
go
up
as
well.
Yeah
and
everything's
gonna
be
on
chain.
So
all
of
the
interactions
with
the
oracles.
It's
all
computed
on
chain
and
it's
all
automated,
so
there's
no
false
reportings.
A
A
The
oracles
will
look
at
that
wallet
and
say
in
this
particular
wallet.
You
don't
have
a
million
dollars,
you
have
half
of
that.
It's
also
an
auditing
process
as
well
for
auditing
the
d5
protocols,
contracts,
making
sure
that
they
are
reporting
exactly
what
they're
they're
saying
the
other
one
too.
This
is
just
for
the
an
edge
case
for
a
lot
of
the
lending
protocols
is
a
lot
of
lending
protocols,
depending
on
how
they
count
their
tvl.
A
It's
deposits
minus
your
borrowed
assets
because
sometimes
you'll
have
a
lot
of
deposits
and
if
you
only
count
the
deposits
as
your
tvl,
but
not
your
outgoing,
you
could
deposit,
borrow
redeposit
or
wind
it
up
and
wind
it
up,
and
then
you
essentially
get
an
inflated
tvl
of
only
deposits,
but
in
fact
it's
the
same
deposit
just
circling
into
itself.
So
if
you're
auditing,
the
oracles
will
only
look
at
the
balance,
not
what
the
d5
protocol
says
that
they
have
in
deposits.
B
So
in
phase
one,
it's
just
eos
and
usdt,
and
it's
just
on
native
eos
for
that
phase,
but
then
phase
two
which
shouldn't
in
my
mind
as
long
as
phase
one's
successful
phase,
two
might
not
be
too
far
behind
that
would
extend
to
the
evm
and
it
would
also
potentially
add
other,
let's
say,
bridged
assets
so
maybe
like
bridged
usdc
or
bridge
ethereum
or
things
like
that.
What's
the
current
status,
so
the
blue
paper
was
only
published
two
weeks
ago
but,
like
I
said,
the
development
actually
started
prior
to
that.
B
So
what's
the
week
to
week,
looking
like,
as
far
as
like
the
group
still
meeting
or
what's
going
on
and
what's
the
expected
delivery
date.
When
do
you
anticipate
that
all
of
these
things
that
we've
been
talking
about
today,
when
do
you
anticipate
that
it'll
be
actionable
and
people
will
start
being
able
to
stake
their
eos
and
tether
for
yield?
So.
A
The
front-end
development
is
in
progress,
so
that's
just
started
the
smart
contract
development
we've
just
finished
the
prototyping,
so
the
initial
smart
contract
for
both
the
reward
system
and
the
oracle
system.
So
that's
been
developed.
We're
still
in
the
you
know,
development
phase
of
the
smart
contract.
It
was
demoed
last
week
and
the
next
phases
for
the
smart
contract
is
the
auditing
phase,
which
will
be
most
likely.
I
think,
at
the
end
of
the
month,
I
believe
so,
maybe
the
third
or
fourth
week.
The
development
will
still
continue.
A
So
usually,
when
you
get
an
audit,
you
get
a
lot
of
feedback
and
then
it's
still
another
two
more
weeks
of
development
to
fix
the
things
that
the
audit
found
and
then
there's
a
re-auditing
process
again
after
the
development
to
make
sure
that
that
those
things
that
were
found
in
the
audit
are
covered
in
a
month
or
two.
We
should
have
a
really
good
progress
of
the
full
development
suite.
That's
the
front
end
the
backend
historical
data
points.
So
a
lot
of
the
portal
will
present
the
historical
tvl
of
each
application.
A
A
Where
we're
at
in
the
current
development
phase,
I
don't
have
a
date
or
a
month
or
a
timing
on
when
this
would
be
executed,
but
it's
moving
at
a
pretty
good
pace.
Three
teams
working
on
this
actively
the
smart
contract
development
front
end
and
the
back
end.
So
that's
the
eos
nation,
origin
and
d5
box.
We
meet
twice
a
week,
so
we
have
a
meeting
call
like
a
planning
call
and
then.
B
Talk
about
what
to
expect
in
the
next
few
months
when
this
is
actually
live
once
you
unlock
the
the
tvl
incentives,
liquidity
incentives,
what
kind
of
applications
are
possible
or
what
kind
of
use
cases
within
the
applications
that
either
already
exist
or
don't
exist.
Yet
what
are
some
of
the
things
that
will
be
possible
on
chain
that
you
can't
really
do
today,
because
the
incentive
structures
just
don't
align.
A
Yeah,
a
lot
of
d5
protocols
will
be
able
to
apply
once
they
hit
the
minimum
requirement.
The
next
part
is
a
lot
of
d5.
Protocols
need
to,
you
know,
make
a
token
to
incentivize
attracting
liquidity,
what's
good,
with
yield
plus
is
at
least
that
gives
that
baseline.
At
least
it
gives
those
protocols,
at
least
a
minimum
amount,
that
they
don't
have
to
sacrifice
so
much
their
own
token,
their
own
governance
token.
A
They
can
be
a
little
bit
more
conservative,
they
can
say
instead
of
trying
to
make
a
token
and
then
just
give
it
away
to
get
to
a
million
dollars,
let's
get
to
a
higher
amount.
Let's
use
the
yield,
plus
rewards
and
then
launch
a
token,
so
you
can
give
rewards
with
only
yield
plus
without
even
releasing
a
token.
A
So
some
protocols
could
get
to
a
point
without
even
releasing
any
tokens
themselves
wait
a
few
months,
but
because
they
have
a
protocol
with
liquidity,
at
least
their
depositors
are
not
going
to
be
stuck
without
any
rewards
for
two
or
three
months,
while
the
team
figures
out
the
the
sort
of
tokenomics
and
the
governance
aspect
of
that
project.
A
lot
of
projects
have
a
hard
time
attracting
liquidity,
because
they
don't
have
strong
incentives
to
keep
that
liquidity
in
their
protocol
yield
plus.
B
I
mean
I
was
just
in
public
eating
group
the
other
day,
so
I
gave
them
an
example.
Not
every
project
needs
their
own
token.
Why
doesn't
eden
create
a
simple
locking
mechanism?
I
gave
the
example
30
day
lock
up.
You
stake
your
ears
into
a
vault
and
you
lock
it
for
30
days
and
as
long
as
there's
200k
in
this
vault,
they
would
qualify
to
submit
and
be
approved
by
the
field
plus
working
group,
and
then
all
of
this
eden
members
could
be
incent
or
even
non-members.
B
I've
seen
chris
barnes
mention
he
wants
to
do
some
d5
strategy
where
you
get
a
bonus.
If
you're
an
eden
member-
and
you
said
chris,
you
can't
force
defy
box
to
reward
eden
members,
it's
just
not
going
to
work,
but
if
eden
built
their
own
vault,
then
of
course
they
could
incentivize
eden
members
over
everyone
else
that
doesn't
stop
other
people
from
using
the
vault,
but
your
favorite,
if
you
have
a
verified
eden
account,
and
it
could
be
very
simple
things
like
a
token
lockup,
and
then
you
could
build
things
on
top
of
that.
B
But
then,
on
the
other
side,
what
I'm
excited
about
is
projects
that
do
have
their
own
tokens,
whether
it's
a
brand
new
token
or
an
existing
project
like
d5
box
or
pizza
or
whatever
project
is
just
because
the
protocol
is
getting
an
eos
reward,
doesn't
mean
that
they
have
to
directly
pass
that
eos
reward
to
their
end
users.
If
you're
an
lp
on
on
defy
box,
they
could
use
that
eos
to
do
a
buy
back.
They
could
use
that
eos
to
automatically
stake
it
into
their
liquidity,
pools
to
deepen
liquidity.
B
B
But
if
I
reward
you
with
my
token
and
at
the
same
time
I'm
staking
the
eos
matching
it
with
my
token
and
deepening
the
protocol
and
liquidity,
then
even
if
every
single
user
that's
received
that
equivalent.
To
my
own
token,
so
I'm
giving
you
10
years
worth
of
zak
tokens
instead
of
giving
you
just
the
10
years
directly.
If
you
sold
all
of
the
zak
tokens,
you'd
still
end
up
getting
10
eos
kind
of
like
a
monetary
expansion
exercise.
B
The
other
thing
I'm
excited
about
is
kind
of
like
negative
interest
rates
or
offsets
so
with
lending
protocols.
So,
for
example,
if
I
want
to
borrow
a
stable
coin
on
pizza
right
now,
I
could
borrow
usdt
from
pizza
for
eight
percent
at
the
current
market
rate.
But
if
you
want
to
be
safe,
you
want
to
have
at
least
200
percent
collateral.
So
if
you
have
200
eo,
it's
like
a
5
yield
you're,
actually
getting
on
your
collateral
10
more
than
what
you're
borrowing
so
you're,
actually
getting
a
negative
interest
rate
on
d5
box.
B
You
can
generate
usn
at
a
one
percent
annual
rate
currently
and
if
they're
doing
kickbacks
on
the
rewards,
it
would
also
depend
on
the
protocol
because
they
have
the
flexibility
of
do.
They
pass
back
100
percent
of
the
awards
and
then
in
what
token
do
they
pass
it
back?
But
I
I
think
for
sure
something's
gonna
be
rewarded,
whether
it's
in
their
token
or
in
eos.
B
So
if
I'm
staking
a
hundred
thousand
eos
into
d5
box
lending,
I'm
generating
50
000
eos
worth
of
usn,
I'm
actually
being
paid
to
do
that
because
my
eos
is
earning
yield.
I
generated
all
of
this
usn
and
I
could
sell
half
that
usn
for
for
tether
right
now
and
get
a
25
yield
on
that.
So
you
could
do
all
of
these
different
stackings
of
different
protocols.
That's
all
within
d5
box
itself,
but
with
the
more
protocols
you
have,
you
can
stack
across
different
protocols
depending
on
what
services
they're
offering.
B
So
I'm
really
excited
for
that,
seeing
like
negative
interest
rates,
because
that's
where
you're
incentivized
to
borrow
when
you're
incentivized
to
borrow,
then
you
create
new
money,
and
then
you
could
put
that
new
money
to
work
and
define
you
just
start
building
up
the
defy
ecosystem.
The
liquidity
pools
get
deeper.
The
deeper
the
liquidity
pools
are
as
long
as
there's
multiple
ones
of
them.
It
creates
arbitrage
opportunities
which
increases
trade
volume
which
increases
organic
fee
and
revenues
within
the
projects
themselves.
B
That's
what
I'm
really
excited
about
once
the
evm's
launched
and
it
just
becomes
super
easy
to
spin
up
a
clone
or
some
kind
of
lego
block
mishmash
of
a
d5
protocol
on
there.
You
eliminate
a
lot
of
the
upfront
engineering
costs
that
you
may
have
building
on
native
eos,
because
there's
not
as
many
libraries
there's
not
as
much
open
source
code
to
piggyback
off
of
so.
B
Like
a
fair
distribution
mechanism
like
wi-fi,
you
can
create
some
really
cool
economics
that
could
create
a
lot
of
excitement
because
there'll
be
all
these
new
projects
limited
supply,
high
yield
rates
because
usually
with
a
new
project
like
anyone,
who's
been
in
d5
anytime,
there's
a
new
token
on
a
new
project.
The
the
yields
are
usually
typically
unsustainable,
but
they're
quite
high
initially,
and
I'm
looking
for
that
because
that's
like
an
exciting
time.
B
C
Yeah,
I
I
was
just
thinking
about
these-
highlights
trimbot
brought
that
up
yesterday
in
telegram
and-
and
you
touched
on
it
there
and
I
was
thinking
the
whole
point
of
this
program
is
to
draw
attention,
even
though
native
eo
staps
can
participate,
and
those
that
are
here
cannot
that
are
already
here
that
have
been
here
forever.
They
can
participate
sure,
but
it
attracts
the
attention
of
outsiders.
I
think,
is
really
key,
especially
with
the
evm
approaching.
C
C
This
is
really
already
done
this
before
so
I
can
just
apply
on
this
chain
and
start
collecting
these
rewards
and
and
even
if
their
mentality
going
into
it
is
to
say
I'm
just
going
to
collect
these
rewards
for
a
while
and
then
bounce
I'm
just
here
to
drink
from
the
tap
while
it's
running
the
idea
from
in
my
mind,
is
if
you
genuinely
believe
this
chain,
the
technology.
The
functionality
of
eos
is
something
remarkable,
then
that's.
C
The
whole
point
is
to
at
least
get
them
to
take
a
peek
over
here
and
if
they
bounce
fine,
that's
okay,
maybe
they
have
found
shangri-la
on
some
other.
You
know
blockchain.
That
offers
something
amazing,
but
an
important
thing
is
to
get
them
to
take
a
look
at
what
the
chain
can
do
and
and
maybe
have
them
re-evaluate.
You
guys
have
both
seen
this
in
oh
esteban
doing
the
trust
swap
he
has
no.
He
had
no
clue
about
eos.
He
just
came
over
to
take
a
peek
at
the
evm
and
he's
oh
wow.
C
B
It's
a
big
user
acquisition
strategy,
just
the
yield
incentives
themselves,
are
user
acquisition,
it's
a
marketing
strategy
and
you're
right.
What
we've
seen
with
with
the
the
trust
swap
and
esteban
what
he's
doing
I'd
imagine
as
the
evm
gets
closer
to
launch,
especially
after
it
launches
you're,
going
to
see
a
lot
more
people
coming
in.
Just
like
that,
he's
one
developer
and
he's
already
built
an
entire
swap.
Multiple
smart
contracts
deployed
multiple
token
contracts
deployed.
It's
all
been
relatively
easy
for
them.
C
Like
esteban,
they
definitely
catch
my
attention
because,
like
I
mentioned
he,
there
wasn't
a
reward
for
him.
He
just
saw
that
there's
an
evm
on
test
net
for
eos.
Let's
give
this
thing
a
try,
and
now
he
seems
hooked
based
on
reading
his
commentary
and
now
he's
producing
documentation
and
weekend
educational.
You
know
videos,
I'm
like
yeah,.
B
C
That
makes
me
think
that
if
there's
a
program,
something
that
promotes
people
that
aren't
looking
that
aren't
like
esteban
and
they're
searching
out
for
tech,
then
they
stumble
across
the
trustee
vm
that,
if
yield
plus,
can
grab
that
attention
and
then
hook
them
in
to
come,
take
a
peek,
maybe
any
dev.
That's
esteban's.
Caliber
would
find
the
same
merits.
B
B
If
any
of
these
lending
protocols
are
swaps
or
volts,
if
they
have
an
additional
token,
then
it's
just
like
the
incentives
start
compounding
at
that
point,
and
I'm
really
looking
forward
to
seeing
what
kind
of
projects
I
show
up
just
because
the
ones
I
know
about
the
ones
the
main
one
that's
been
public
is
obviously
the
trust
swap,
but
I'd
imagine
that
there
will
be
dozens
of
new
projects
like
that
popping
up,
especially
once
the
first
initial
one
starts
seeing
success.
One.
A
Of
the
things
I
want
to
talk
about
is
the
like
getting
eos
tokens
active
on
eos.
So
a
lot
of
tokens
on
eos
are
not
really
on
eos
they're
on
binance
exchange,
okay,
x
bitfinex,
it's
fine
they're,
just
on
exchanges,
they're
on
chain,
but
they're
in
cold,
wallets
or
in
hot
wallets
for
exchanges.
Exchanges
serve
a
purpose.
They
they
provide
that
you
know
professional
trading
experience,
but
one
of
the
big
benefits
with
yieldplus
is
getting
that
eos
active
in
the
chain.
Doing
smart
contract
related
defy.
A
So
if
we
can
get
to
20
of
the
max
supply
of
eos
locked
into
d5,
I
think
that's
a
success,
and
if
we
can
achieve
that,
then
maybe
we
crank
it
up
again.
I
don't
know
the
goal
is
essentially
to
max
out
yield
plus
right.
The
goal
is
to
max
out
the
rewards
that
are
going
to
be
allocated
per
quarter,
distribute
that
through
as
many
different
protocols
as
we
can
so
that
way
we
are
utilizing
the
rewards
for
yield
plus
and
distributing
it
to
different
protocols.
A
We
really
want
to
see
as
many
protocols
to
join
and
apply,
and
hopefully
we
can
max
out
each
phase.
The
first
phase
on
the
launch
phase,
which
will
lock
up
about
50
million
eos
and
then
the
accelerated
stage
when
we
increase
the
rewards,
it
would
allow
200
million
eos
worth
of
value
locked
up
on
the
chain.
So
I
think
that
would
be
really
beneficial.
A
Lot
of
those
wrecks
are
not
in
protocols,
they're,
cold
wallet
that
stakes
a
couple
million.
So
there's
a
mix
between
exchange
wallets
on
in
rex,
which
is
fine
right
exchanges
are
allowed
to
stake
into
wrecks,
but
out
of
that
50
million,
I
would
actually
be
very
curious
to
know
how
much
eos
is
actually
in
protocols
that
are
live,
doing
swaps
lending
a
stable
token
collateral.
B
So
I
highly
doubt
you'll
see
like
a
bitfinex
or
binance
or
who
will
be
staking
into
like
d5
box,
for
example,
they're
going
to
continue
to
stake
in
the
wrecks
where
the
rewards
are
fine.
That's
with
the
the
voter
rewards
it's
give
or
take
like
one
and
a
half
to
two
percent.
So
it's
something
but
they're
not
going
to
have
the
same
yield
potential
as
the
users
who
are
moving
their
eos
on
chain
using
their
own
wallet
and
playing
around
on
chain
and
d5.
B
A
Yeah
for
sure,
and
looks
like
it's
to
make
sure
that
the
developers
building
on
eos
have
ways
that
they
can
access,
rewards
for
building
those
d5
protocols
and
also
reward
active
participants
that
want
to
you
know
deposit
onto
chain
and
not
go
on
to.
Let's
say
an
exchange
exchanges
will
always
offer
yields
on
every
layer.
One
asset,
that's
just
a
part
of
their
business
model
because
they
make
money
through
trading
and
options
and
futures
they
want
as
many
products
and
services
on
their
exchange.
That's
not
going
to
take
away
their
product.
B
More
options
too,
like
you
could
already
get
the
yoda
on
a
lot
of
decentralized
exchanges.
It's
still
going
to
be
there,
it's
not
going
away
if
anything
it
might
go
up.
If
less
is
staked
in
the
wrecks,
for
example,
they
could
potentially
get
not
much
more
but
a
little
bit
more,
but
then
you'll
have
all
of
these
other
options.
Dozens
of
different
places
you
could
park
your
eos
or
usdt,
or
eventually
bridge
tokens
and
things
like
that
as
it
expands.
A
And
also
the
goal
is
that
on
chain
would
be
the
best
place
you
can
earn
eos,
because
right
now,
eos
on
chain
for
staking
is
low
yield
compared
to
the
exchange
staking
pools.
So
with
this
is
actually
you
can
have.
A
d5
protocol
also
stake
into
rex.
Right
now
the
yield
protocol
will
go
and
read
the
rex
balances,
or
if
you
want
your
eos
to
be
staked
in
cpu
or
net,
it
will
be
able
to
read
the
balances
in
your
stake
balance
as
well
right.
B
B
A
A
It
will
increase,
I
think,
but
that's
where
you
can
compound
a
lot
of
these
sort
of
like
earning
right.
You
have
some
earning
on
racks.
You
have
some
earnings
on
voting
proxy
rewards.
You
have
earnings
of
yield
plus
you
can
start
stacking
these
sort
of
compound
api
and
then
you
can
probably
get
to
eight
percent
without
really
doing
that.
Much
you've
got
one
percent
here,
two
percent
there
five
percent
there
and
then
you
can
on
on
top
of
that,
have
your
protocol
earn
fees
from
being
the
protocol
that
you're
operating.
A
So
I
would
see
that
some
projects
could
easily
get
to
eleven
twelve
12
stable
apy.
They
can
definitely
get
into
the
double
digits,
with
just
a
standard,
solid
d5
protocol,
whether
it's
lending
or
whatever,
protocol
that
they
choose
and
yeah
just
keep
stacking
those
yields,
and
maybe,
if
it's
on
evm
on
trustee,
vm
they're
going
to
be
a
fourth
and
the
fifth,
you
know
yeah.
Who
knows
who
knows
how
many
compound
apys
you
can
get,
but
that's
the
goal
with
these
d5
lego
blocks.
B
C
You
touched
briefly
on
in
the
beginning.
I
think
one
of
the
the
paramount
features
for
me
from
my
perspective
is
somebody
that
was
really
interested
in
the
the
policy
and
the
regulations
is
believe
it
or
not.
There
is
quite
a
bit
more
transparency
baked
into
this
product
than
you
would
find
in.
You
know,
analogs
on
other
chains.
It's
unfortunate
that
a
common
practice
across
a
lot
of
these
top
market
cap
chains
is
under
utilizing.
B
Awesome
so
I
I
hope
everyone
watching
this.
They
got
a
better
understanding
of
what
the
goals
of
yield
plus
were
what's
still
under
development
when
they
expect
all
of
this
come
to
fruition,
and
then
once
it
does
come
to
fruition
what
to
expect
from
there.
I
think
the
idea
is
stacking
stacking.
Those
yields.