►
From YouTube: Community Collateral Onboarding Call: October 21, 2020
Description
Introduction: @juanjuan
Presentation 1 ([0:01:33]): EURStasis
Presentation 2 ([0:31:09]): Crypto.com
Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-12-wednesday-october-21-17-00-utc/4745
Governance Forum:
https://forum.makerdao.com/
Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.
A
A
So
the
first
just
to
give
you
an
overview
of
what
we're
going
to
be
doing,
every
project
will
have
around
10
minutes
to
2
and
then
around
20
minutes
for
q,
a
from
the
community.
So
that's
a
little
bit
the
format
I'll
I'll
be
letting
you
know
to
make
sure
that
we
don't
go
over
the
the
hour
so
greg.
If
you
guys
are,
are
ready.
The
first
presentation
will
be
stasis
with
the.
I
think.
It's
euro
stasis-
and
you
guys
mentioned
something
that
you
have
a
new
ramp,
maybe
so.
B
B
B
Okay,
so
in
a
nutshell,
we
are
a
team
of
professionals
who
were
involved
in
institutional
asset
management
and
asset
structuring
trading
software
development.
For
more
than
two
decades
and
after
launching
the
crypto
initiative
back
in
2012,
starting
with
bitcoin
funds,
I
quickly
realized
that
there
should
be
a
cash
on
chain,
some
cash
equivalent
that
has
same
settlement
characteristics
as
digital
assets
and
then
obviously
tether
came
along
and
I
decided
to
create
a
better
version
of
tether
which
will
be
institutional
friendly.
B
B
B
As
a
part
of
my
career
before
I
was
working
in
hedge
funds
and
then
I
traded
a
lot
of
different
derivatives,
complicated
markets,
and
then
video
sometimes
asked
me
to
do
forensics
analysis
on
some
macro
hedge
fund
traders,
especially
when
they
lost
money.
So
I
got
strong
relationship
with
them
and
they
were
kind
enough
to
support
the
stable
coin
project
back
in
2018.
B
When
you
know
it
was
really
hard
to
strike
a
relationship
with
any
reputable
auditor
to
audit
fiat
reserves.
It
sounds
a
simple
process,
but
big
auditors
were
reluctant
to
kind
of
jump
on
that
initiative
even
circle.
Up
to
these
days.
They
don't
have
a
top
auditor.
Unfortunately,
so
then
we've
got
this
interface
to
buy
and
sell
urs
using
the
sepa
payment
or
card
transaction.
B
So
you
need
to
create
an
account
here
which
which
will
allow
you
to
access
the
interface
to
tokenize
your
euro
for
separate
transactions
that
takes
literally
less
than
one
hour,
and
we
also
support
card
on
and
off
ramps.
So
you
can
buy
and
sell
euros
using
either
a
bank
transfer
or
a
card
payment,
and
we
provide
the
lowest
fees
on
the
market.
In
fact,
we
don't
charge
any
fees
for
this
service.
B
Our
business
model
is
to
accumulate
euros
collateral
to
manage
them
in
the
big
money
market
funds,
so
but
we
managed
to
negotiate
very
reasonable
and
great
fees
for
these
transactions.
So
if
you
want
to
buy
your
rest
by
card,
you
will
pay
just
1.5
percent
if
it's
a
european
card
and
you
get
instant
stable
coins
which
you
can
transact
over
blockchain
with
and
for.
If
you
pay
with
with
a
bank
transfer,
it's
free.
Basically,
it's
free
to
buy
and
it's
0.1
percent
to
sell
kept
at
50
euro.
B
Whichever
is
smaller.
We
also
have
a
cell
to
card
functionality,
so
you
will
be
able
to
send
your
us
to
any
visa
mastercard
around.
This
was
all
available
in
api
form
as
well.
So
all
this
interfaces
to
buy
and
sell
stable
coin
is
available
as
an
api
and
that's
already
been
used
by
several
merchants
as
a
rip
as
a
competitor
channel
for
acquiring.
B
We
also
have
a
woocommerce
plug-in.
So
if
somebody
wants
to
jump
start
selling
something
online
and
settle
on
stablecoin
welcome
to
experiment
with
that,
and
and
recently
we
got
some
clients
contributing
liquidity
to
to
the
uni
swap.
So
I
think
now
your
rs
is
in
top
10
players
by
liquidity
on
unisop
and
there
is
usdc
and
ethereum
pairs.
B
I
guess
I'll
stop
here.
So
basically,
we
did
a
lot
of
efforts.
Put
a
lot
of
efforts
to
introduce
crypto
to
the
european
union
community
accumulated
more
than
50
000
customers,
wallet,
downloads
and
members
of
our
community
across
different
european
countries,
and
really
excited
about
joining
the
diet
collateral
as
one
of
the
institutional
grade
and
stable
assets,
banking.
B
Rupee,
you
mean
indian
currency,
so
we
charge
in
euro.
We
focus
on
euro.
You
can
try
using
the
indian
card
inside
our
sellback
interface
and
buy
eurostablecoin.
The
fee
will
be
higher,
though
so,
for
european
cards.
The
fee
is
just
1.5,
but
for
other
cards
it's
3.5
and
again
we
don't
take
any
fees
ourselves.
We
just
pass
through
what
we
managed
to
negotiate,
but
given
our
relationship
with
auditors
and
acquirers,
we
negotiated
the
lowest
fees
possible.
A
B
A
B
Well,
I
I
can't
really
blame
the
guy.
Initially,
he
wanted
to
launch
the
true
euro.
I
think
as
a
second
currency
a
while
ago,
but
failed
it's
not
because
of
the
regulations
because
of
the
negative
interest
rates.
A
lot
of
tech
teams
jumped
on
the
stablecoin
project.
There
were
more
than
250
stable
point
projects
announced
last
couple
years,
but
fast
forward
three
years
and
just
look
around
his
round.
Very
few
teams
managed
to
execute,
and
especially
with
the
currencies
that
have
negative
interest
rates,
we
have
the
fund
background.
B
We
know
how
to
navigate
the
negative
interest
rates
environment.
We
don't
just
store
our
euro
in
the
bank.
It's
actually
the
worst
thing
you
can
do
store
currency
in
the
bank.
If
a
bank
goes
under,
the
only
token
holders
can
get
is
a
hundred
thousand
insurance,
so
we
hold
them
reserves
in
licensed
custodians
and
government
paper
which
cannot
go
bankrupt.
B
C
B
A
C
B
Depending
on
the
duration
of
the
security,
so
if
you
take
longer
dated
government
bonds,
the
yield
is
even
positive
and
sometimes
close
to
zero,
but
we
also
do
collateralized
lending
through
these
licensed
intermediaries.
These
are
the
brokers
they
are
licensed
at
the
financial
institutions,
investment
companies
in
europe
who
can
face
clients
and
trade
on
their
behalf.
B
What
they
do
is
they
finance
sovereign
bond
purchases
using
the
reserves
we
accumulate,
and
these
are
one.
Purchases
are
used
in
investment
programs.
So
there's
a
big
trend
in
europe
to
sell
golden
visas
or
properties,
and
then,
in
all
these
examples,
customers
have
to
buy
government
bonds
and
hold
them
for
considerable
amount
of
time.
So
our
licensed
intermediaries
provide
leverage
for
these
people
to
buy
these
bonds.
They're
cg
customers,
it's
a
collateralized
loan
and
it
has
very
long
duration.
C
B
Because
they're
not
fractionally
reserved
everything
is
over
characterized
think
of
like
a
maker
dao,
it's
over
characterized
with
ethereum
right
same
thing.
Here,
the
in
bank
system,
you
get
a
very
high
leverage
bank
banks
are
currently
leveraged,
21
or
even
50
to
one.
If
you
take
account
all
the
balance
sheet
stuff.
It's
like
100
times
to
one
as
deutsche
bank
was
leveraged
back
in
2008..
B
C
C
A
D
A
D
B
For
2020,
it's
not
ready
yet.
Obviously
the
year
has
not
ended.
So
we
we
started
with
weekly
audits
and
then
realized.
The
community
is
not
really
demanding
that
frequent
audience.
So
now
we
are
doing
yearly
audits
and
monthly
audits
on
demand.
So
I
can
send
you
the
latest
one.
It
should
be
available
on
the
website.
B
D
D
B
We
don't
hold
any
euros
ourselves
as
stasis,
we
kind
of
exempt
from
trading
our
own
token.
This
is
not
required
by
law,
but
we
want.
This
is
the
way
we
self-regulate
from
day.
One
everybody
who
trades
euros
is
either
a
primary
client
who
bought
it
on
the
primary
market
or
a
client
who
bought
it
on
a
secondary
market
market
and
is
involved
in
the
liquidity
providing
business
just
because
he
can
buy
at
99
cents
or
sell
close
to
par
or
above
par,
as
euro
fluctuates
to
dollar.
B
You
can
imagine
there
are
some
arbitrage
opportunities
across
cryptocurrency
exchanges
and
even
on
unislope,
you
can
check
the
transactions
on
the
union,
swap
there
have
been
some
arbitrage
opportunities
between
bank
or
uni
swap
and
some
centralized
exchanges
like
bitfinex.
So
no,
we
don't
engage
in
any
secondary
market
activities.
We
make
sure
our
reserves
are
transparent
and
that
our
apis
and
sellback
works
to
buy
and
sell
unlimited
amounts
of
euros,
and
then
the
secondary
market
just
takes
over
and
figures
out
on
its
own.
A
B
Oh,
of
course,
yeah,
of
course,
if
everybody
comes
comes
in
and
sells
the
euros
tokens
will
be,
of
course,
honoring
all
those
requests
and
sending
fiance
out
I
mean
we've
got
transactions
of
buying
and
selling
us
every
day.
Using
here,
you've
got
people
buying
with
cars,
we've
got
people
selling
to
their
eye
bands.
B
A
A
B
So
if
that
doesn't,
change,
we'll
have
will
gladly
remain
on
the
euro
on
the
ethereum
layer
one
but,
as
I
said
from
the
start
of
the
call,
we
are
exploring
other
blockchain
opportunities
as
other
stable
coins.
Today
circle
announced
partnership
with
solana,
for
example,
so
I
can't
name
the
exact
projects,
but
we're
also
exploring
such
opportunities.
B
We
as
stasis
have
zero
euros.
It
all
belongs
to
clients.
Our
job
is
to
increase
the
fungibility
of
the
token
to
provide
more
opportunity
for
users
and
more
comfort
for
ecosystem
we've
got
so
many
requests
from
our
european
customers
to
introduce
at
least
some
product
that
can
generate
some
yield
and
euros.
Adding
euros
to
die
is
the
first
step
into
that.
B
B
I've
been
in
a
hedge
fund
business
for
more
than
20
years,
and
I
can
tell
you
that
thailand,
equities
or
russian
equities
started
being
priced
in
dollars
first,
but
now
all
most
of
them,
trade
in
local
currency
than
in
dollars
so
same
was
happening
crypto
first
there
was
bitcoin
and
started
trading
in
dollars
on
japanese
exchange,
beautiful
to
not
not
in
yen
right
but
in
dollars.
But
then
market
evolved
new
regional
products,
roll
up,
roll
out
and
then
there'll
be
customer
segregation.
Also,
europe
has
been
lagging
in
crypto
adoption.
B
As
you
know,
us
was
big
in
bitcoin,
asia
was
big
in
ethereum
and
ethereum
related
projects,
but
europe
lacks
even
you
know,
big
crypto
exchange.
The
bitstamp
is
the
only
example,
and
there
are
not
many
crypto
projects
originate
out
of
europe,
so
adoption
of
crypto
generally
is
lower
in
europe
relative
to
u.s
and
asia,
and
that's
why
the
there's
less
demand
for
euro-denominated
stable
coins,
but
that
will
change
and
I
foresee,
a
very
bright
future
for
the
euro
denominated
crypto
assets.
D
C
D
Sorry,
one
greg
looking
at
your
wallet,
I
see
that
it's
available
on
the
two
most
popular
app
stores.
Have
you
ever
had
any
issues?
Does
it
actually?
What
I
should
say
is:
do
you
have
a
web
browser
built
into
that
into
that
wallet,
and
I
asked
because
I
was
listening
to
this
app
creator
and
he
had
mentioned
that
a
couple
of
times
he
had
issues
with
apple.
With
regards
I
mean
actually
coinbase
had
issues.
D
B
We
had
just
one
question
from
the
product
team
from
the
app
store
team
regarding
the
custodianship
of
assets.
Since
it's
a
non-custodial
wallet,
we
don't
hold
any
ownership
of
the
assets
that
people
put
inside
this
wallet
or
transact
through
these
wallets.
So
we
don't
require
to
be
a
licensed
intermediary
to
to
custody
those
assets,
and
that
was
the
only
question.
Besides
that
there
were
no
issues.
B
A
B
Again,
I
see
the
big
power
in
self-custodianship
and
digital
assets
is
that
everybody
can
transact
with
them
on
demand
self-custody
need,
but
that
requires,
of
course,
some
increased
computer
literacy,
crypto
literacy
for
for
people
to
be
more
convenient
and
happy
with
the
applications
and
the
devices
they
use
so
far,
we're
still
in
just
very
early
stages.
It's
like
asking.
B
Would
you
access
the
internet
cafe
to
browse
internet,
or
would
you
kind
of
use
your
own
device
right,
we're
very
early
and
the
market
will
evolve
and
there
will
be
people
who
will
use
crypto
on
paypal
or
through
paypal,
but
still
will
be
chaps?
Who
will
prefer
self-custodianship
and
use
all
the
types
of
wallets
to
custody,
crypto
and
trade
transact
through
it
through
the
software
different
software
solutions?
As
for
regulation,
it's
a
very
important
subject
and
going
forward.
B
I
think
european
union
will
amend
imani
directive
to
include
a
stablecoin
concept
and
call
it
something
like
e-mini
2.0,
because
in
its
current
form,
e-money
regulation
is
not
allowing
a
stable
coin
model
by
accessing
the
reserves
and
keeping
them
outside
of
the
of
the
banking
system,
but
going
forward.
It's
it's
another
thing
to
to
do,
and
I
think
we
were
one
of
the
flagship
pro
projects,
including
the
regulatory
lobbying
process.
B
Let
me
show
you:
this
is
one
of
the
latest
books
we
published
on
cryptocurrency
regulation
across
the
world
and
shared
these
books
with
all
the
major
regulators,
including
the
ecb,
and
all
the
securities
regulators
and
stakeholders
who
could
be
interested
in
pushing
these
things
forward.
So
I
have
really
high
hopes
for
european
union
as
a
whole.
The
initiative
to
consolidate
a
digital
asset
framework
between
countries
has
finally
got
traction
and
now
is
being
implemented.
B
As
you
know,
before
countries
on
their
own,
like
malta,
france,
italy
started
to
craft
their
own
legal
frameworks
around
digital
assets.
In
germany,
for
example,
banks
are
now
allowed
to
custody
digital
assets,
so
things
are
progressing,
although
at
a
slower
speed
as
crypto
community
prefers,
as
you
can
see,
in
d5,
for
example,
it
was
full
cycle
in
less
than
two
months
boom
and
bust,
and
so
much
stuff
is
going
on
literally
every
day.
A
B
B
Just
the
banks
will
be
using
it
to
settle
between
each
other
and
if
it's
a
retail
model,
there
is
a
risk
of
a
run
on
a
bank,
because
the
commercial
bank
money
will
lose
its
appealing
status.
Nobody
will
deposit
money
in
the
bank
with
the
risk
of
getting
just
hundred
thousand
out
of
that
insured
account
if
you
can
have
a
direct
account
for
central
bank.
So
it's
a
big
debate.
B
I
currently
see
the
cbdc
as
something
internal
that
public
will
not
have
access
to,
and
I
gave
my
comments
about
it
to
relevant
parties
and
regulators
when
we
had
these
discussions,
but
it's
clear
that
something
will
be
on
the
table
for
the
consumer
to
decide
upon
and
it
will
be
just
a
competitive
market
if
you
can
say,
buy
a
coffee
with
visibility,
but
you
cannot
deposit
into
the
d5
product
or
project
to
generate
some
yield.
Maybe
it's
not
good
enough
for
cbdc.
A
A
C
E
E
A
C
E
All
right
guessing
me,
okay,
good
afternoon
and
good
evening
for
those
on
my
time
zone.
So
I'm
very
very
happy
to
be
here
today,
thanks
for
the
insight
and
being
able
to
argue
a
little
bit
on
boarding
applications
for
being
a
collateral,
crypto.com
cro
token,
and
so
I'll
cover
a
bit.
What
is
crypto.com,
what
is
cro
and
what
can
it
bring
to
the
maker
ecosystem?
E
So
we
started
looking
at.
How
can
we
drive
adoption
and
one
of
the
key
factor
for
us
was
making
those
cryptocurrency
usable
and
something
that
was
very
important
for
us
and
our
first
two
flagship
products
were
payment
products,
so
we
had
a
visa
card.
The
crypto.com
visa
card
and
also
crypto,
can
pay
a
qr
code
payment
solution
that
enables
people
to
actually
use
their
crypto
for
day-to-day
spending.
E
We
need
to
just
buy
goods
and
services
at
more
than
60
million
merchants,
globally,
online
and
offline,
so
that
was
kind
of
the
main
use
case
that
we
started
to
start
driving
adoption
and
bring
more
people
into
the
space
to
power
that
use
case.
The
payment
use
case
we
developed
a
public
and
open
source
protocol
called
the
crypto.com
chain
and
cro
is
the
native
token
of
that
chain.
E
It's
open
source,
it's
permissionless
and
it's
very
developer
friendly
in
terms
of
you,
know,
documentation
and
letting
people
build
on
top
of
it.
We
have
a
very
active
github
and
a
lot
of
contribution,
so
I
encourage
you
to
to
check
it
out
if
we
look
at
the
the
d5
initiatives
that
we've
developed
at
crypto.com,
so
we
started
with
our
design
wallet,
which
is
a
non-crystalline
wallet
that
enables
you
to
safely
store
your
assets
and
for
you
to
have
full
control.
We
we
listed
maker
we
listed
die
on
that
wallet.
E
We
also
introduce
a
decentralized
oracle
integration
for
the
price
of
dai
and
a
few
other
design
token
within
the
wallet
to
have
a
notion
of
of
certainty
on
the
price.
Without
relying
on
centralized
services
beyond
the
wallet,
we
started
adding
a
lot
of
different
d5
services
and
the
first
one
that
we
launched
a
little
bit
more
than
a
month
ago.
E
E
So
that's
kind
of
an
overview
and
how
the
experience
looked
like
for
for
device
swap,
and
you
can
see
typical
fees
that
user
can
get
when
they
transact
fairly
similar
to
the
unisop
model,
but
also
some
yield
opportunity
for
stickers.
So
I
think
something
quite
interesting,
especially
if
you
were
to
participate
and
and
provide
liquidity
in
a
dipole.
You
can
get
some
some
great
rewards
as
well.
E
I
think
for
us
beyond
the
product
I've
mentioned
for
for
we've
started
investing
in
the
space
quite
early
on
more
than
a
year
and
a
half
ago,
and
primarily
through
research
and
education,
and,
of
course,
it's
very
important
because
we
want
to
broaden
the
ecosystem.
We
want
to
drive
mass
adoption
and,
if
I
is
a
you
know
a
complex
topic,
so
there's
a
lot
of
education
to
to
content,
to
develop,
to
provide
more
insights
and
and
explain
what
it
is.
E
We
we
published
a
lot
of
reports
on
different
protocols
and
we
did
one
on
on
makoda
in
april,
really
trying
to
provide
a
more
color
about
the
protocol,
introduce
it
to
our
community
and,
more
recently,
we
did
a
a
broader
paper
with
the
boston
consulting
group,
so
the
top-tier
strategy
consulting
firm
to
really
introduce
what
is
this
side
to
a
broader
set
of
users,
even
from
the
traditional
sector,
for
them
to
understand
you
know:
what
can
they
do
with
defy?
How
can
they
participate?
E
If
we
look
at
our
overall
ecosystem,
we
have
a
little
bit
more
than
five
million
users.
Now
on
the
platform
that
you
know
would
be
introduced,
you
know
further
to
the
make
a
dot
protocol.
We
have
90
markets
where
we
operate.
We
have
local
communities
in
in
more
than
30
markets,
with
quite
a
few
employees.
E
Now
about
600,
you
know
when
I,
when
I
joined
about
three
years
ago,
I
was
employee
30,
so
it's
been
a
quite
an
interesting
journey,
developing
all
these
services,
bringing
on
more
customers,
adding
value
and,
of
course,
throughout
the
way,
we'll
also
build
a
strong
social
media
presence
where
we
can
also
amplify
messaging
and
education
around
around
the
protocol
and
the
partners.
We
we
work
with.
E
And
then,
if
I
step
back
and
looking
at,
you
know
what
crypto.com
and
cro
overall
can
add
to
the
make
out
our
ecosystem
and
what
would
be
a
good
idea
to
add
sierra
was
a
collateral
for
you
know,
minting
dye.
I
think
there's
still
a
lot
of
work
to
be
done
in
terms
of
providing
insights
and
educating
people
around
the
d5
concept
and
what
is
makeup
daw
and
how
it
brings
value
to
the
environment
that
we're
in,
and
we
have
five
million
users
and
a
growing
base
of
those
users
that
we
can.
E
E
C
E
D
D
So
can
you
just
go
a
little
bit
more
into
depth
with
that?
Like
so
am
I
getting
this
right?
Might
if
I,
if
I'm
a
crypto
com,
user
and
I've
never
heard
of
dye,
and
I
live
in
honduras
and
I
wanted
to
get
exposure
to
a
stable
cone,
I
will
be
able
to
now
have
access
to
die.
Is
that
right
or
I'll
be
able
to
open
a
vault,
perhaps
or
perhaps
not.
E
Correct
I
mean
if
you
have
different
use
cases.
Of
course,
if
you
a
cro,
is
integrated
as
a
collateral
on
the
makeup
data
protocol
you'll
be
very
easily
able
to
min
dye
and
use
dye
for
different
activities
and
within
our
own
ecosystem,
people
can
already
buy
die
with
you
know,
a
credit
debit
card
through
a
bank
transfer
or
using
more
than
80
different
cryptocurrency.
D
C
I
have
one
one
more
question
for
you.
I
am
curious
about
how
many
counts.
Slash
wallets
hold
cro.
I
know
that
probably
a
portion
of
it
is
like
actual
wallets
and
a
portion
of
it
is
probably
like
crypto.com,
like
accounts,
I'm
not
really
100
sure
on
whether
they're
like
self-custodied
or
custodied,
by
you
guys,
but
I
am
curious
about
the
token
distribution
specifically.
Do
you
have
any
data
or,
like
anything
offhand
that
you
can
mention.
E
Yeah
I
was
about
to
check,
is
a
scan
for
the
the
latest
number,
but
I
can
give
you
an
overview
a
little
bit
on
the
the
token
distribution.
So
overall,
if
we
look
at
at
cro
there's
about
60
of
the
supply
that
is
frozen
for
the
next
few
years
and
40
that
is
available
out
of
that
40.
Already
half
of
it
is
in
the
circulating
supply
and
the
the
other
half
is
being
released
progressively
through
a
smart
contract
and
a
schedule
that
is
defined
in
our
white
paper.
C
E
E
Sure
we
have
two
two
products
on
our
app
one
is
called,
earn
and,
and
the
other
one
is
called
credit,
so
you
can
only
earn
it's
kind
of
the
staking
or
the
deposit
part.
And
then
we
support
about
15
different
assets
die
is
one
of
those
and
you
can
stake
it
or
deposit
it,
and
then
it
can
be
used
and
lent
out
in
the
credit
product
within
the
ecosystem.
E
So
it
doesn't
leave
the
the
platform
and
we
provide
actually
quite
good
yield
on
diet
right
now,
I
think
of
up
to
12
percent
per
annum.
So
it's
pretty
pretty
attractive
and
the
mechanism
is
very
simple:
you
just
need
to
have
a
crypto.com
app,
you
open
the
app
you
go
into
the
earn
product
and
you
deposit.
E
A
E
E
You
know
ten
percent
on
expedia
pre
when
we
can
travel
a
bit
more
and
great
perks
on
the
pay
solution,
which
is
really
a
very
interesting
product.
It's
a
native
crypto
payment
solution
so
and
it's
mobile,
friendly
and
secure
code,
so
we're
we're
integrating,
for
example,
with
the
with
ledger
on
their
website.
So
you
have
a
little
crypto
dot
com
pay
button.
You
click
on
it.
There's
a
qr
code
that
pops
up
you
open
your
crypto.com
app
or
any
non-cost
of
your
wallet.
E
You
can
scan
that
qr
code
and
then
you
can
pay
off
chain
if
you're
with
the
app
the
crypto
come
up
and
it's
instant
or
you
can
do
it
on
chain
with
cro
with
any
non-custodial
wallet
and
get
that
payment
across
confirm
and
then
it's
it's
actually
free
for
the
merchants
to
receive
the
funds
in
crypto.
So
it's
very
very
cool
product
on
the
payment
side,
so
that's
for
payment
utility
and
then
on
the
trading
side.
E
We
have
a
big
exchange
platform
and
if
you
stack
cro
there,
then
you
get
pretty
good
discount
on
the
fees
that
you
trade
and
you
also
get
access
to
kind
of
exclusive
events
where
you
get
discounts
on
on
token,
I
think
we
did
a
50
on
maker
a
couple
of
weeks
ago,
and
so
this
this
kind
of
event,
you
can
get
very
nice
apy
and
you
can
get
access.
If
you
you
have
cro
or
you
stack
cro,
that's
on
the
on
the
trading
side
and
then
on
the
financial
services
side.
E
We
talked
about
earned
credit
and
also
some
of
our
decide,
yield
opportunities
same
if
you
take
cro
on
earn.
You
get
hired,
sometimes
to
two
percent
more.
You
know
percentage
on
your
apr
or
on
credit.
You
get
also
reduce.
You
know,
interest
rate
that
you
have
to
pay
if
you
stake
cro,
so
that
it's
kind
of
the
utility
that
is
already
live,
some
is
off
chain.
Some
is
unchained,
depending
on
the
the
the
tools
within
our
platform,
nice.
A
E
E
A
E
Definitely
so
actually,
when
you
use
any
of
our
payment
products,
whether
it's
the
the
visa
card
or
especially
the
pay
product,
if
you
have
sex
cro
or
you
use
cro
as
a
currency,
especially
for
the
pay
product
you
get
cash
back
and
and
on
the
card,
it's
up
to
eight
percent
in
that
currency
and
on
the
pay
product
it's
up
to
10.
So
if
you
use
the
token
for
the
transaction
and
you
get
you
get
cashback
in
the
in
cro,
so
it's
pretty
cool.
E
We're
actually
working
on
the
directory,
because
it's
the
question
that
we
we
get
quite
often,
but
I
can
mention
a
few
names,
so
I
I
said:
ledger
travelous.
As
a
you
know:
I've
integrated
with
with
crypto
compare
unstoppable
domains,
it's
a
great
partner
of
us
as
well,
and
we
have
every
week
hundreds
and
hundreds
of
merchants
that
you
know
apply
to
be
a
merchant
with
us.
We
have
a
woocommerce
plugin,
we
have
ecwid
plug-in.
E
We
have
you
know
prestashop
and
other
platforms
that
are
coming
up,
so
we're
quite
integrated
into
the
merchant
platform
ecosystem,
and
we
have
you
know
numerous
merchants
and
what
we
do
now
is
every
month
in
our
newsletter
that
is
focused
on
pay.
We
start
listing
and
highlighting
some
of
the
featured
merchants,
but
we're
we're
planning
to
do
maybe
a
directory
at
some
point.
So
it's
easier
for
people
to
know
where
they
can
spend
their
cro
or
their.
You
know
they
died.
For
example,.
A
E
E
Sure
I
mean,
as
I
mentioned,
there
is
actually
100
billion,
not
not
trillion.
60
of
that
is
frozen
out
of
the
40
percent
that
is
left,
20
is
already
in
the
circulating
supply
and
the
other
half
is
being
distributed
through
a
smart
contract
with
the
daily
distribution.
So
it's
it's.
You
know
predictable,
which
is
always
important
in
the
space
and
is
very
clearly
detailed
in
our
white
paper.
A
I'll
take
the
silence
as
no
so
thank
you
eric
again,
I
lost
my
screen
yeah
here
it
is
so
yeah
some
some
news
before
we
close
tomorrow
at
5,
30
utc
we're
going
to
have
federico
from
claros
claire's
just
announced
a
fellowship
with
the
maker
foundation
regarding
collateral
onboarding,
there's
a
blog
post
down
there.
If
you
guys
want
to
to
check
it
out,
it's
also
on
the
on
the
maker
forum.
A
Next
week,
28th
of
october,
at
5
utc
we're
going
to
have
console
fright.
So
that's
one
of
the
real
world
asset
companies,
that's
working
with
centrifuge
to
to
bring
real-world
assets
to
the
to
the
blockchain
and
at
6
00
p.m.
Utc,
we're
going
to
have
curb
finance,
so
yeah,
I'm
going
to
post
the
agendas
today
or
tomorrow.
So
please
join
us
and
yes,
you
all
in
the
forum
and
thank
you
very
much
for
for
joining
us.