Hummingbot Community, 30 Oct 2021

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From YouTube: Hummingbot Foundation AMA

Description

Learn what's next for Hummingbot this year!

In this live AMA, Mike & Paulo will discuss the future plans for hummingbot. With decentralization in the center of our ethos, the Hummingbot Foundation will support and enable community contributions similar to the Linux Foundation.

Big opportunities coming!

0:30 Welcome
1:24 Michael Feng Intro
2:51 Hummingbot Foundation
3:33 Hummingbot Today
6:37 Community Population
8:06 Sustainability
11:52 Open Source Maintenance
15:38 Sponsors
16:52 One Liquidity DAO
21:49 Value of open source
26:18 Upcoming Features
28:40 Question : Hummingbot Pro Pricing Structure
29:54 Question: Gateway
36:44 Hummingbot Foundation, Why?
38:22 Idea of open source

Huge thanks to our sponsors:

Avalanche
Harmony
Kava
Polygon
Terra

Reference Links:
Hummingbot Website - https://bit.ly/3qHoEtb
Hummingbot Miner - https://bit.ly/3FiZpS6
Hummingbot Blog - https://bit.ly/3qI2EhO
Hummingbot Docs - https://bit.ly/327EnYo

Partner Exchange Connectors:
https://dydx.exchange/
https://www.binance.com/
https://www.kucoin.com/
https://uniswap.org/blog/uniswap-v3/

**Important Disclaimer**

This video is for educational purposes only. We are not giving any legal, tax, financial, or investment advice. Every user is responsible for their use and configuration of Hummingbot.

A

All right. welcome, everyone to the there's, a special live stream.

A

What we're doing today, to this special day., we're going to talk a bit about the announcement that we just did this week.

A

It's the launch of the foundation and there is a lot to talk. About.

A

Something really interesting that is going to happen in the next days.

A

And I'm going to bring someone that you guys know.

A

Just for a minute., I'm listening myself., I don't know why this.

A

What's happening? ok, hold on. hold on, hold on. some technical problems,. You guys ok?.

A

Yeah. got to figure it out.. I was listening to myself, another three.

A

ok,, so let me bring my mike, alessio, to the to the screen.

A

Talk a bit about the foundation and what everyone can expect from.

A

From the next days and the next months and weeks, moving forward.

A

Hello, mike. welcome to the livestream., so the stage is yours and.

A

What can you tell us about the the launch of the foundation?.

B

Yeah. thanks, paolo. yeah,. So thanks for having me.

B

that, I really like our new kind of coming life. Format.

B

And I think, you know, before we've tried various things,, but I think we really want to do more.

B

Of this really community in the launch of the foundation.

B

So today I wanted to really just share what we've been working on.

B

And the mechanics of how the foundation works,, why we're doing it.

B

And also some of the partners that we've onboarded who'll be celebrating mission. Launches., that's awesome.

A

Yeah., there is a lot of things that we have to talk.

A

And I am especially personally really excited with the plans.

A

And one less thing is that to everyone: that's watching us today,.

A

So feel, free to post and questions that you have on the chat.

A

And after do the presentation.

A

we're going to go through and try to answer this question as best as we can.

A

Right: so. ok,, my the ok one.

B

All right. yeah. as far as that,, you feel free to jump in and chat.

B

you know, we're trying to get through with relevant or at the end.

B

Will also take questions as well.

A

Right. ok, ok., so the stage is yours.

A

feel free to start sharing with us.

A

What's the good news?.

B

Ok, so yes, I have a little presentation.. I just walked through everyone for about ten, 15 minutes.

A

Basically, we just announced on monday that, coming by.

B

Which the open source project is going to be spun off as an open source foundation.

B

Which will take control of the story and enable.

B

The community to maintain the project going forward.

B

So first,, let me give you a bit of background going back for those of you listening about that's what it is.

B

So we're an open source trading block project we lost more than two years ago.

B

And this file a fact that we.

B

As one of us started with a hedge fund that we manage ourselves.

B

And so 11, probably countered with managing this hedge fund, was a.

B

When we wanted run quite trading strategy on different exchanges.

B

You have to spend all this time really debugging and writing low level website connections.

B

Before you can get to the fun part of actually designing c street and strategy.

B

And so, and this this, like really low level dredgers work of building exchange.

B

Connections was something that we observed, not just us.

A

Everyone was doing that in the industry.

B

Whether you, an individual trader,, a professional market making firm.

B

Or even exchange itself is trying to provide liquidity and ensure you have you can service your payments, properly.

B

And so we had to realize that it would be the road.

B

Just a better place if someone open source and project.

B

That you just had like open source integrations for different exchanges.

B

But also offered people really deep access.

B

the order book abstracted kind of the differences.

B

Between all exchanges in a standardized way.

B

And so that's really what came about was, you know,. There are other open, source,.

B

You know, solution out there that we also recommend, as well.

B

But but I think we really try to focus on,. You know,.

B

Because we were hedging ourselves,, we tried to really create a professional, great set of tools. That's.

B

Say fine, you know, for that facing speed or for python for usability.

B

And also the other thing we tried to deal with was because we saw.

B

The decentralized exchanges, we're going to be in the future.

B

We try to integrate both centralized as well as decentralized exchanges.

B

So today we have connectivity, slow, exchanges,.

B

A finance and fcx.

B

Perpetual base exchanges like the three perpetual swaps, advanced futures by bit, us.

B

But also we're slowly starting to integrate into unit swap,.

B

Both v2 and v3, bam down to balancer.

B

And also to other, basically to other idm compatible chains.

B

You know, the chain: families as well,, including cosmos with terra.

B

And in future salon and other chain payments., we also and in future our observation is just,. You know, as clean software,.

B

It's what we so necessary role in the market.

B

Because there's so many different protocols out there.

B

And both on,, you know, both exchange trading protocols,.

B

But also decentralized protocols and people just need help, connect them.

B

B

yes,, we really ended up now, nowadays, really kind of being a bridge.

B

Between central exchanges and the central exchanges on various protocols.

B

And we recently announced that we're.

B

We're really building this new gateway, middleware.

B

Architecture that standardizes integrations to different protocols and also to the exchanges on them.

B

So we're kind of starting with syrian use swap and we're currently adding.

B

Avalanche and pangolin., but the idea is to have a really simple kind of template.

B

That anyone can copy and add for exchanges and other protocols for.

B

So finally, our users are really,. I would say, a large community.

B

Of both individual and professional users, now.

B

So today, a lot of bot token issuers provide.

B

For their own tokens, market, making firms as well as individual traders.

B

And so today we have about 16,000 of these.

B

Clients in our community and what we're really aspire.

B

To is a truly decentralized open source code, base.

B

And we've had over 100 contributors, takeovers.

B

So people also are still volume., so we actually recently started,. We introduced this heartbeat mechanic.

B

That allowed users to report their volume.

B

On an aggregated, anonymized basis per exchange.

B

And we use this statistic because we have partnership, exchanges.

B

And we did these back based on usage.

B

And so we've observed the numbers growing steadily.

B

So today we see about 30 or $40 million,, an average of track trading volume.

B

By clients, primarily on finance, ascend next to coin.

B

the exchanges we have,, we have no minor there,.

B

But we actually suspect a lot more people are using this because.

B

Some of our hedge fund and are probably turning off.

B

That direct connection mechanism in the clinton leads.

B

But for us you know it's, you know, we're users are individual.

B

You know we do appreciate that you know our users are thousands of us.

B

Running on a daily basis, using a software providing liquidity to all the different streams out, there.

B

But what's really allowed us to take this step.

B

Of creating a foundation was, was our launch of our minor platform.

B

We we kind of came up with this idea of liquidity, money.

B

Or decentralized market making back in the white people.

B

We published in october 2019 and we launched the minor platform.

B

In march 20, 20 and since then it's really kind of become the liquidity solution for.

B

For smaller publishers, as well as a great complement.

B

To highly market maker for some of the larger ones, because it's decentralized and because it kind of acts as a kind of a dissemination marketing mechanism for itself.

B

So today it's on foreign exchanges, which actually just launched on that issue.

B

And we've so far, we've had over 3000 market makers,.

B

You know, provide about 2.6 billion in trade volume for over 80 token issuers.

A

And as we expand this platform,, we really want to basically skills.

B

Platform to every single centralized exchange and possibly in the future, even decentralized exchanges as well.

B

So because of the land platform, you know,, the way we look at it is becoming part of open sports project has really contributed a lot of success. Right, now.

B

However, you know, like,, you know,. We want to make sure the open source.

B

Project can live and sustain and thrive on its own.

B

What we don't want to be in a scenario where we, as a corporate.

B

Entity are kind of like controlling the open source, project, dictating,.

B

You know, how change is going forward because then it's not really a community project and it really isn't.

B

Actually, our mission,, which has always been to open source.

B

Algorithmic trading and the democrats plan is about that.

B

So that's why we're really proud to announce that,, you know, in the future.

B

We're going to we're going to put the open business project humming.

B

Bot in a container, a separate foundation which will help maintain it.

B

And we'll scale to every single exchange.

B

On every single protocol and support every single trading thread.

B

And so just like linux,, you know,, which is kind of a special process of humming bot,.

B

We believe that this community maintain model.

B

Is the best way to allow this to sustain going forward.

B

And really become kind of like the un open source operating system,.

B

If you will, for every every crypto trader out, there.

B

Then, on the other side., but for clients, you know, we're very,, very busy running the minor platform and scaling that type of exchange.

B

But we're also really excited about our upcoming pro product,.

B

Which is basically a closed source.

B

Premium kind of plug in that offers both the backtesting and the data, the order of data.

B

That we've been collecting over the past couple of years that powers that engine.

B

And we're going to package that in more of a hosting service, like a national graphical interface,, something post on the web.

B

That that is aimed at professional and our users initially.

B

We're alpha testing with a few of our hedge funds.

B

But,, but we also believe that individual users can use this as well.

B

And so we will be, you know, kind of starting to really gradually.

A

Open that up to some of the eagle club members in the beta,.

B

But then in the future, other users, as well.

B

And because we do believe that that this thing is something that everyone trader should have access to, you know, in order to really test for strategies.

B

And- and we think we can kind of like packaged the software in a way that,.

B

You know, both professional and individual users. Can they can make use of the tool.

B

But, but,, but that allows us to foundation and you know,, that's the foundation.

B

That, right now, where we actually have a lot of our engineers devoted to maintaining the open source project.

B

But we feel that, you know,, making that kind of like, you know, sustainable on its own is a great first step.

B

In actually enabling the community to skew the project for it.

B

And so this is kind of the basic flywheel of how the foundation works.

B

And so what's interesting to note is that essentially, there's.

B

Kind of a team of coming by which is already kind of says, doing this right now, and it's helping to sustain having brought because basically there are sponsors.

B

Who are other exchanges or.

B

Blockchain protocols who are funding bounties and that those guarantees.

B

Go to maintainers and contributors who are building that infrastructure.

B

In the form of exchange, connectors or bot trading, strategies.

B

And then our population figures out there.

B

16,000 developers and traders in our community are using these kinds of strategies to donate capital,, to provide trading volume.

B

To to on these blockchains, on the exchanges and the earning arbitrage process by doing so., and so in that way,, the sponsors themselves,.

B

The exchange are benefiting from that position.

B

So it speaks to a lot of our potential sponsors.

B

They feel like this is a kind of a more sustainable, organic way to incentivize trader adoption.

B

Than some of the other methods in the past. you know, in the past, financial incentives have always worked well, but I think I think we all believe that this is a more sustainable.

B

Way to do it because you're building trade or infrastructure that could be reused,.

B

You know, for eternity.

B

anyway., so the cost and the value of what you're building is larger.

B

Plus, you know,, by involving a decentralized set.

B

Of maintainers and contributors,, you really also growing the developer population dedicated to this ecosystem.

B

And supporting each other and building kind of trading strategies that just,.

B

You know, help ecosystem like the ones that every player operative is trying to.

B

So the foundation you know, what's interesting about foundation is that,. You know,, like maybe perhaps, unlike other nonprofits,, it is expected to be sustainable.

B

Almost at inception., because there's actually kind of these existing revenue, streams.

B

Now,, if the parent company is going to come over to foundation,.

B

One of 11 of which is our exchange, feature agreements.

B

So currently we have a number of agreements with exchanges like finance.

B

Ok,, that's going be by day. the rebate, a portion of fees based on the usage.

B

Of the upcoming by claims that people use.

B

And so the way this works is that there's a custom identifier built in to the api header level.

B

So it basically identifies, you know, when you trade, as a user.

B

And then some of that fees are related to foundation.

B

So you're, currently trying to share income, has are going to be bought,.

B

But we're going to assign those partnerships and contracts over the foundation so that the foundation can basis sustain itself using that.

B

And in addition, we're also, the foundation is also going to perform a lot of a lot of the work.

B

That we doing is administering these down to hackathons.

B

Very similar to to how bitcoin works.

B

And so the work is to be the scope and work with the sponsor to sign up.

B

So the downtick I signed that down to to, you know, developing the community.

B

And when the community and the developer create a poor class,, the foundation will essentially administer.

B

That and kind of like scope and review that progress.

A

So there's actually quite a bit of work, varnishes doing.

B

You know, on on behalf of each of these kind of bounties.

B

And so,, so that's why, overall, I would say, and the goal behind.

B

This is really to build a sustainable foundation through these sources and.

B

So so yeah,, so in and of course, one of the most important kind of like to know.

B

That the roles in this foundation ecosystem are really the sponsors.

B

We actually you point off itself as just one of many potential sponsors.

B

And the way, the way that we're funding foundation and supporting it is through staffing, costs.

B

So, you know,, we'll, be you know,, we'll be essentially kind of like,.

B

You know, committing or guaranteeing that the initial year when staffing costs.

B

For people who are working at foundation.

B

And we post some of those roles on our page.

B

They include what we're seeking to recruit a really topnotch cfo.

B

It's,, you know, a person who can manage the purse strings and manage.

B

All the exchange of political partnerships in addition,.

B

We also have some open roles for project management, support and community management., but but the reason that, you know, mean by foundation exists, is because we also have other partners as well.

B

And we're going to talk about one of them, today, harmony, protocol,, which is.

B

Which is which basically has committed $2 million to fund kind.

B

Of like a large partnership with addition that we're calling liquidity, gap.

B

And what's interesting about this is that this is a real deal.

B

So it's a open collective that comprised of members, some from the harmony ecosystem,.

B

Some from the ecosystem, who will help provide, who.

B

Promote liquidity for harmony blockchain and for assets on harmony, project.

B

So so here's how it works. you know, jolly,. Basically the goal, as I've mentioned,, is to promote quality and harmony blockchain.

B

and for the one token other assets and the way it does, that is by funding.

B

Bounties for harmony based decentralized exchanges,.

B

By by doing kind of hackathons.

B

And other things like that., so so for instance,, some of the things that that this partnership would take on.

B

Might be building a connector for sushi swap,, which has about over.

B

$100 million of liquidity currently on harmony.

B

Another interesting kind of project, harmony, is called divide. Kingdoms.

B

It's kind of it's almost like an rpg combined.

B

With an iron- and it's has to be over 200 millions of tv0- oh and is quite, quite.

B

A lot of volume in the past few days, I think it's really interesting experiment.

B

And kind of like a game plus in a decentralized exchange.

B

And finally, you know harmony, one of harmony is a big of the use cases and bridging other chains to its current operator brings about by an export chain.

B

Into the room- and I think so right now, there's like a separate bridge client.

B

That harmony still maintains and gives out to kind of broad datas.

B

And I think you know, humming bot is a kind of a generalized bot.

B

Framework,, you know might be in the might be possible.

B

It's kind of like take that, but you know, it's using kind of,.

B

You know, client and really turn that into like a connector and a strategy.

B

That can be easily more easily maintained and scaled by the community going forward.

B

So just a few examples of like kind of like liquidy.

B

Infrastructure that this dow will fund.

B

In addition,, this dow will also kind of do things that, you know, basically,.

B

Try to really do to figure out how, with equity strategy for harmony will be.

B

You know, there's a lot of uncertainty and opacity.

B

Around the value of liquidity,, how to measure it,.

B

How should kind of like a protocol, protocol or token,.

B

You know, like assets and, and you know, compensated equity, providers.

B

So I think there's a this is a really rich area of research.

B

And I think this is something that, you know, the people who are pursuing this take on.

B

But the what's the reason we think we do see it.

B

Is because, ultimately, what a lot of these chains are looking for are adoption.

B

Adoption in the form of volume,, but also developers and users.

B

And just like, as we do for exchanges,, because we can track those identifiers at the transaction level, you know,.

A

We can really measure the impact of what has on each of these ecosystems.

B

And and so that's why, you know, for harmony,, you know,, we can. We can see we're starting small.

B

We're just only starting with,, you know,, like a relatively small commitment.

B

From harmony. you know,, I think about that, is like $2 million over a four year, period.

B

But we believe that that's enough to really power a good amount of liquidity.

B

And harmony, and that we can kind of replicate this model with other.

B

Systems as well.

B

so yeah,, that's really the presentation one to kind of in that here.

B

And just really give you guys a preview of how the foundation works.

B

But in general, right now,, we're kind of like doing the legal parts.

B

Of setting up the, the nonprofit foundation.

B

And then we're also kind of like, can I,? Can we transferring ip over and so forth,.

B

And we'll probably buy more information over the next.

B

Few weeks on exactly the kind of projects that mission takes on and exactly how will engage.

B

With external sponsors, as well as with developers and so forth.

B

But,, but I think one thing we're going to try to do is kind of really like scale out this.

B

How many partnership and then kind of instantiated partnerships.

B

Really, with all the other kind of layer protocols that we've announced our launch and others as well.

A

Yeah,, that's that's really great, actually.

A

I mean, I'm,, I'm really happy to be part of this project.

A

And I mean, one thing: I have been.

A

Using hum bots, and, and testing and working with cloud.

A

Alpha for a bit more than a year.

A

And one of the amazing things.

A

That I learned during this time is actually how,.

A

How interesting democratic open source projects can be, right?.

A

Because, yeah,, we, our team, do most of the work so to maintain anything like that.

A

But there is a lot of community contributions.

A

That are really good, really interesting, and every time we talk with.

A

With these developers, they are always excited to,, to,.

A

To contribute to the to the code base and make the the bar to them.

A

Better., so it's it's a really.

A

Great perspective, when you look into the development of tools and yeah.

A

And things like that. yeah.

B

You know,, I totally agree actually. and what was interesting to me,. I think when we first started a couple years ago,, it was like.

B

We thought we were really going to teach people, one marketing,, which is how it works everything..

B

But but now I find that, you know,. Let's say the strategies.

B

Our users are creating are actually better than like the ones we see ourselves like.

B

We just pay for bounties,, like we do ajax and opened fire.

B

I really feel like it's like. Actually I like running the strategy.

B

Those users created more than the ones we created ourselves.

A

And I really like kind of customize and really show that people.

B

Actually use this thing., and so that's why we have all these suggestions and features.

B

so honestly,. I feel like one reason we're doing. This initially is honestly,, I would say to, to kind of like not just give up more control of home body and keep working life partners,, but really to kind of like almost like,.

B

Yeah,, can I give over control really to our users?, you know, to really let our users who've been longtime members of community.

B

To, you know, been using how we bought everything we gave their money.

B

To, allowed them to really drive how it was meant. For.

A

Yeah,, that's true. well, ok,, so we do have a question on the chat that is about backtesting.

A

I'm going to like to talk a bit more about it., but at first I just see this is more that we were. We were kind of pro side, right.

A

But is there any any? I noticed in the early days of development,.

A

But what else can we tell everyone about the whole idea of the people?.

B

Yeah,, so so at that I would say like it was always been our attention.

B

That to launch that testing, along with that.

B

And so as background,, I would say that I think the reason it's.

B

Is actually it's really hard is because you really need all of the data.

B

You need to know, what's in the order book to back test and mark making or like liquidity provision strategy, effectively.

B

And so and, and with all of data.

B

Because of how of densities, you know it's like basically changes more than once, every second.

B

So our order book stream from finance.

B

Base had a diff like three or four times every second, it's really hard.

B

To actually kind of back to sort of a data.

B

Of an optimized way that way., so you know, for instance,. If you use an open.

B

Source, I'm like, no,, that's in the engine like that trader.

B

And you won't have that kind of like granular level, to pass it through.

B

It isn't take like a day to want to basically.

B

That it's like a single like something like it would take.

B

Like an hour to back to say single days of backtesting data.,.

B

So like that, it's like, it's like you're spending more time on advertising than how much time you actually got to see. For, you know,, so.

B

And really that's limitations with python. These python is a dynamically suited language and that's. This is actually why.

B

A lot of traders prefer c++,, you know,, so so.

B

And so, this is why we originally wrote in python in order to accommodate.

B

This is the engine that we've been kind of building on the side.

B

And so this is actually why most of strategy is in connectors, original python.

B

So this is pro product..

B

What it is is is really a combination of a of a stripped down.

B

Siphon based activity engine that we've built ourselves.

B

And so we need this closed source because nothing else.

B

Like this, in the world, you know,, we can.

B

That's like a day's worth of data, you know, within this next 3 seconds,.

B

A

It's like a thousand times faster than the open source version. Available.

B

So, that's why you closed source it in addition, because you need that data alone with it.

B

Right. and so most people don't have,. You know,, like three years of binance data.

B

Sitting around.. Obviously this is like,. You know,, multiple, like petabytes of data.,.

B

We've been collecting it as well., so we also have this like lots of like audible data in this big database.

B

That's matched up with the back of the engine.

B

And so and then finally, you know,, we all heard from a community,. Everyone wants.

B

More a good, a good, a graphical interface,, something easy to use.

B

So we also realize we're going to just you know,. We should also text that in a.

B

An application, you know, and then allow people to run that run.

B

As an application and then maybe also kind of run, by.

B

So you can also do that,, has a strategy and then run live along with that.

B

So that's kind of we're working toward, and so it's.

B

Kind of been an alpha for a couple months: right, now.

B

It's really just super notebooks connected to our servers.

B

That a few like,, you know,, pretty technical hedge funds, running.

B

And so I think we're going to try to stage it where the next phase is more like a,.

B

You know, a little like a closed beta,. You know,.

B

Probably, with open more.

B

Is still be the super notebook version,, which is really going hard to use.

B

And at the same time, we're working like a prototype for more like a graphical interface that we can then,. You know,, be like.

B

Make available to early users like sort of next year or so.

B

But this is,, I would say, the pro product is something that,. You know, it's hard.

B

To be behind scenes for a while,, but I think it's going to start becoming like.

B

The commercial kind of more professional version of going.

B

But that's kind of it's going to be a bit different in the open source community version.

A

Yeah. yeah., and one important notes here, is that when we talk about back test,.

A

We're not talking about backtesting, like close prices of every minute.

A

We're talking about the whole order book information.

A

The every second right, so it's it's indeed a lot of data.

A

So there's a lot of work to be done. no.

B

Yeah, yeah. no, no, no, no, no, no., but you can with charts like, you know, every order. Place,.

B

Every order canceled, every order, filled know., and so you can really can analyze, you know, using certain data how your strategy would behave.

A

B

So yeah, not, not,, not only the pricing, but the market dynamics of basically.

A

Yeah,, that's right.

B

So that's answering the question from either keep on and you go.

B

But yeah, basically, because it's like on the, the engine itself is iphone.

B

And it's going to optimize with the data structure.

B

Of how the order book is a serialized database.

A

That's kind of how we optimize speed versus type and open.

B

Source tool versus right. yeah.

A

And just to close it up about the question from.

A

We more about the pricing structure,.

A

What we can say right now actually, is that we don't have a pricing model yet.

A

We're more focused on building the whole foundation of the of the the product.

A

So it's not something that we have any, any.

A

An idea on the short on the short time to talk about.

B

Yeah,, you know what else?, I think we want to try to make this available to as many people as possible.

B

obviously,, but it kind of depends a bit on our cost. Structure.

B

You know, it's like we're, not quite sure right, now, like how much it costs us in terms of like.

B

Making it available or security is also another concern, so so obviously, I think, you know,.

B

We kind of do need to put enterprise first, a little bit for perspective.

B

But you know, our goal as a company is the market finance.

B

So obviously we want to make that available to as many people as possible.

A

Yeah. yeah. well,. We do have a very interesting question here about the gateway side.

A

The let me put on scream.

A

About vm compatible. right., so let me start with answering.

A

there's a bit: we if you have a b following us,.

A

Our dev channels a bit more lately,, that is, that we are totally recreate and we are working the gateway.

A

To be as much universally possible to add new code or the whole architecture to make it.

A

Possible to any, any kind of new connectors have been built upon it.

A

So the first ones we are working is using the evm compatible gateway.

A

So yeah, the idea is that it should be more.

A

Even simpler, even easier to.

A

For example, create the connector on the b, a, b, c network.

A

Or any other avm compatible network currently where we are testing.

A

A bit on avalanche,, we are trying to model using the as a second.

A

Starting as a second chain that we're going to add as to work, the model.

A

And but also not only evm,, the whole idea.

A

Is that we built in a way that any other blockchain can also be be.

A

Be added to gateway in a in a more structured way,, right?.

B

Yep. yeah., you have actually there's a worksheet hosting more of a webinar style.

B

Of discussion about gateway to weeks.

B

So that one is also an events page that went into zoom call.

B

So you'll be also ask questions, interact with us and really.

B

See now how this works.

A

Yeah, we're excited., we want support every single chain and every single text on the strings.

A

Right. great., I do have one next question.. I haven't seen anyone ask it,, but I'm guessing that.

A

This is going to be a pretty common question.

A

What's going to happen with liquid liquid mining once the foundation large is how is going to to all of this structure? Work?.

A

I think that's something that it's good to have more details on on this.

A

B

That's that's a really good question, though,.

B

Because it's based basically,, as I mentioned earlier,, the miner platform, is a stay with point alpha.

B

Because we view that the miner platform is really kind of like,, you know,.

B

It's a rewards platform from our users,.

B

But it's kind of like it's not separate from open source project, itself.

B

So the the the miner platform is kind of says we want alpha and the way we've as qualified is.

B

Really we're just a company that we, we run businesses that power the commodities.

B

And so the miner is one example of that business..

B

Another one is about.

B

The foundation,, which our foundation is simply is very simple.

B

It's a maintain open source project., a lot of community to steer how involved going forward.

B

A

We're going to push for improvements and market making strategies.

B

Because that's what's going to help our users on the miner platform.

B

Then, if you know,, if other users,, let's say, want to build an options, module.

B

And, you know, and connect to their bid and really expand options, people coming.

B

By, you know,. If they want to integrate the trading view. And,, you know,.

B

Add like more directional trading strategies,, you know,. These are all different ways that people can really use them in different ways., and so we actually view all those ways as possible.

B

And it's kind of like as long as there's like the will and the people.

B

In the communities want to self-organize and submit.

B

Different work on different types of contributions,.

B

You know, that's great., and so the way that we see the foundation working is obviously.

B

Is we're working many partners, but the mastery decide.

B

Which products are actually merged into the base.

B

And so that's that's really the kind of like the bottleneck that we see right, now.

B

The foundation has to decide because, you know,, there's lots of bugs.

B

That we have fixed. there's lots of features that community wants for those lots of kind of like connectors, that we want add.

B

And, you know, obviously,, just like if your foundation.

B

And other open source foundations and manage abortion protocols,.

B

There's a there's, a limitation in terms of how much bandwidth, you know,.

B

Like can be spent on reviewing and merging into four or five.

B

Because each one there might be security concerns,, it might be usability concerns.

B

And so we want to make sure that that code base.

B

Is like a well-manicured garden going forward that everyone can use it.

B

And, instead of like a mess, jungle yeah., if you are.

A

Yeah. yeah, indeed.. I think a great example of this dynamic is.

A

The way the exponent that we had where the wiener strategy was one that.

A

We thinking as a market maker,, it's kind of super important.

A

That's the way where you can, hedge, your positions and.

A

Is something we already had discussed internally, where it.

A

If we should add a hedge strategy, but.

A

It was great to see that exactly one thing that we were thinking that was needed.

A

For the whole market, a strategy to be more complete.

A

One user came in and used the opportunity of the bounty to create something.

A

That's going to be really, it was useful tool to everyone that.

A

That use humbert one way or another, right?

A

yeah. yeah, exactly.

B

And so this, this hedge strategy that caller mentioned is, is coming.

B

In the next release, which is releasing, I think today, actually.

B

A

B

So so, basically and the strategy, I think we.

B

You know,, we we've been testing ourselves as well.

B

and it's a really good match for some of the new campaigns we have.

B

On this index and finance, where you can kind of like.

A

Hedge, your risk on and divide. yes.

A

and also at the same time earn the idea experience.

B

So yeah,, I think, actually I'm actually more content about this.

B

Because I think I think one thing that people don't realize is.

B

The social marketing is out there. what they're really doing is they're really exploiting different opportunities of the landscape, and so it's.

B

Kind of like trying to find the right, like the most like a lot of the setups.

B

Yeah. so, but it's something that yeah,, I think it's something that we want to share with everyone else., so yeah,. In a sense, this is.

A

I would say that is not necessarily about how,.

A

How how profitable is a strategy by itself,.

A

But what's the the it's more about capital, efficiency,, right?.

A

So, where are you going to deploy your capital where you can take the,.

A

The maximal reward and the and profit as possible?.

A

So yeah, it's, it's,, it isn't only one thing: it's.

A

A bunch of things together that actually make the market makers make money.

A

B

We have that one,, you know, as I mentioned,, because I think one thing that,, you know, the heart foundation.

B

Is a business foundation and we're doing it because you know, it's.

B

Like I think people have assets like, is it a dow,, you know, ok,.

B

And all these questions, and and the simple answer is.

B

We want to live a foundation side. you know,, it's the like. I say,. It is an experiment,.

B

A decentralized organization, one, that's going to,.

B

You know, really govern and steer open source project going forward.

B

And so how does governance self, how it allows me.

B

To decide and get a project running the presentation.

B

And so and because we do, we really do view clouds as well separate.

B

Point off, as well as to support the ecosystem and to run businesses.

A

But we're a for profit company, we're not open source.

B

So that's why I think it's kind of like- and I think I would say it's also, I would say the other motivation I have is.

B

I really do think that other open source projects can follow this model as well.

B

Yeah., because many open source projects have a situation where the maintainer,.

B

You know, after a while feels like they just, you know,.

B

They become like a slave to the community..

B

They have no way to sustain the project,, but they also don't want to see it. Die,.

B

You know?, and so I feel like it is a way the community could kind of like you're going for it.

B

and I'm almost like really the structured way for it to take it. Over.

B

Then it really makes open source and viable path for how software., but.

A

Yeah, yeah,, that makes sense indeed. among the conversation and also you mentioned on the,.

A

On the announcement post is that a lot of the inspiration.

A

Come from the linux organization,, the linux foundation.

A

Right?, because if you think about it, one thing.

A

That started as a personal project.

A

Today is like something that we have on everyone's phones.

A

And everyone can create a version of it and then share and yeah,. It's.

A

It's really amazing what can be done with with open source.

B

Yeah, yeah, yeah. so,, so yeah., and this is one big experiment,, but you know,, I feel like know it's,. It's.

B

Something that really should happen. so hopefully,, you know, with the unity and with everyone's support.

B

You know,, we can,. We can really built like the.

B

We got into kind of like a really truly open source.

B

A

Yeah. in the cryptocurrency ghettos, where we are inserted on this system, right?.

A

So the centralization is kind of a big part of the whole idea of the,. The.

A

The origin of the cryptocurrency movements and in markets.

B

Yeah. yeah. and you know, it's like, as I say, you know, during salvador, brazil,, you know,.

B

I mean, it's legal california,, we're going to same team,.

B

You know, it's it's the fact that we can just work together and have a conversation like this is,.

B

I think, a testament to this crypto it's. This is what the ethos of blockchain.

A

Yeah, indeed., indeed it is.- that's really,, really amazing.

A

right?. So I don't see many more questions on the on the chat,, but.

A

If everyone out there still wants to keep talking about ideas, anything,.

A

Any suggestions that anyone could have you can always find us on our discord.

A

We are now is look into into the discussions and.

A

We always like. Actually we we like, when there is a lot of new new things coming from the community.

A

Right. because it starts to open up a lot of new ideas and new possibilities.

A

And things that's a it could be really interesting.

A

And been beneficial to to everyone, that's part of the community.

A

So find us there and we will keep everyone updated.

A

As things go and.

A

I personally am excited to want to see the foundation last year as possible.

A

But I know there is there's still a lot of work. We need to do to.

A

To get everything right, and, and make everything works, right.

A

A

any final words?. I want to tell it to our community.

B

Yeah,, I will just keep on contributing., you know,, I I recently just finished and we actually seeing really upsurge in kind of community.

A

Interest and contributions and really that's a blessing.

B

So so, overall, I would say just let us know what you think.

B

Then, if should work on or even just raise, your hand,, let us know on discord.: do you want to take part and get involved?, because we really do view this as a decentralized effort by everyone.

A

Yeah. and feel free to send us the dms too.

A

Maybe you sometimes you talk something on the chat and we can miss it.

A

So feel free to send out some some private messages., then we,. We can always try to to answer as best as possible.

A

Right., I guess that's it.

A

and thank you. Everyone for coming. thank you, mike. and let us stay tuned to see whatever is coming to on the next months.

A

A lot of things will happen. right., see you all and play everyone.