MakerDAO Core Unit Tools, 10 Sep 2021

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From YouTube: Core Unit Tools #07 Ethereum Name Service (ENS) | Sept 10, 2021

Description

For the 7th episode of Core Unit Tools we’re joined by Makoto Inoue, one of the core developers at ENS (Ethereum Name Service), who talked about ENS’s use cases for Core Units and includes a live demo.

A

Hello, everyone welcome to another co-unit tools uh session today. Well, this one's actually number seven, and today we are joined by makoto from ethereum name service, um very, very interesting project. I'm sure a lot of us are very big fans um and yeah without further ado uh makoto. If you would like to tell everyone who you are.

B

Yeah, uh uh do I share the slider word? No.

A

Yes, okay, whatever you want yeah.

B

Sure I think I put my name on the slide.

B

And let me present, can you guys see the slide.

A

B

Yeah so yeah uh by the way, I'm makoto and uh yeah, and so today oh yeah agenda is what is ens and how to use ems by the way. How many people have a unis, you don't have? Okay, then I think it's what's doing the demo. Yes good day. David has cnn's nice. Yes, nice. I think meghadow has a yes, I I remember mariano used to grab something.

A

We do have a couple of addresses.

B

A

B

Yeah, okay, so I I can show with that, like I can try. I should try to register and all that stuff uh then, because this is a meeting with uh you know, make a dow who's a pioneer on decentralization governance and all the stuff. We uh we just want to talk about. How ens does it or not, really doing anything? uh That's why you, I don't know you guys can help or I something ideas and stuff. uh So yes, so, like I, I have my east address.

B

It's 0x5x384, but I don't remember, like I remember past three characters. That's that's pretty much it right, but then, like with uh ens name, I do have my token dot is so it's easy. Women can remember uh so we kind of start calling as a we kind of pivot into what's called rather than saying uh domain. We start to say it's a webster username, because uh it's literally used everywhere so fast.

B

If you have a ens and if you look- and there is something called the bus- and you say up, if you connect to uni swap it actually literally shows you a name as mankunda is, which is very convenient. If you have like multiple names- and if you you don't want to accidentally, do something with the account different account, then it's kind of good. Also, if you look at the open c, you can actually search.

B

You know you go to the url by, like account slash this password url, and it actually shows the name so like many uh nfd marketplaces tend to have their own usernames, but it kind of acts as a cross-marketplace, username and also the recent about two three months ago. uh Isis actually did more tight integration. They used to support uns for very long time, but now they shows pretty much all the record that if it has the ends name tied into the address, it actually shows.

B

So this example is actually I I think, our registration smart contract and you can see that who's registering so this is kind of where is it becoming ubiquitous and uh second use case is actually uh ens is not just to set the ecm address. You can set some some other kind of gold debris. Characters such as ipfs have something called cid content id, which is very, which is a hash of the content right. So like no matter where it's being stored, it has a unique content id, but the problem is just like you see.

B

Imagine it's very hard to remember so, if you on, if you go to your page like this, is how is rpns is, and you can store the content hash on ipfs and what I'm doing here is uh like unislab or like ems. We don't really have any backend apart from ethereum, so you you can store. Kind of. You can just have run that that boosts uh html css in javascript. So what you can do is like you can put all these files down.

B

There put it into the ipfs, generate the content id and you set on the content. You can actually points to uh bnss on the ipfs gateway server or we even or if you have like a like metamask or uh I think, opera or status wallet. They actually intercept the url and they kind of inject the url name. So so this one is actually this whole. Our uh adobe kind of site is actually on ipfs.

B

We even extend a dns server that we own the domain called estop link and we points to the custom dns server so that if you have a this setting like without being s, uh we automat that we actually points to uipfs with dot link.

B

So if you look at the address file of this slide, I hope you can read it. He actually points the app ens east.link uh unisop also. Does it and I think for unisop, it's extremely important, because you know they're getting like sc c investigation all that stuff and then you you need an alternative from then when they they are they're like front-end uh domain name got like cease, or something like that, and this is a new area which is almost ready.

B

Is that nowadays, like you know, a profile photo is like going crazy. Like everybody like you, you don't now you don't remember who's who's who in the twitter, because everybody's, like you, know, punks or like apes or like penguins, or just just characters right.

B

We want to write that way, and so we are kind of trying to rebuke our page and the one with the stuff is so not just a crm address, not just ipa. First hashes, you can also prove random, hello, random, key values to us, so you can literally just use as your phone book or like profile book or whatever stuff, and there was one field uh it came in, so you can put like twitter or home page email.

B

Anything there's one section called avatar, which literally you can put anything and what we are kind of proposing is okay. Actually, if you put a satan specified url, we we right in the middle of creating something called avatar profile, so this in case it says, eip155 uh column one while the chain id, then you specify the token type 721 and if you put the contract, address and tokum id that basically has all the information about the nft right. So you can actually set the nft as your avatar.

B

What you can do, what's even cool thing you can do is because it has all the information. This front, then actually can go and look at the token ownership and see if actually, this ens name owner. Actually, on this token, and if you open it, we can just show that it's on there, so this kind of could be the interesting way of like you know the common problem. Okay, people are putting like a apatheta uh as nfd as ever that this kind of gives a ways to kind of link it.

B

So that could be very interesting. So we are also kind of trying to redesign that you know the ui ens name pro. I don't know. One thing I did mention the ens is also nft uh yeah. The edh name is a uh nft, so you can see 721.

B

Sorry, yeah c721 compatible uh energy contract and currently it has very boring uh just name just says, but you can basically set your uh your prefather nfd as an avatar image. That's going to be very cool, I think- and uh I I kept talking about eth, but actually you can put your uh internet domain uh using the something called a dns, uh dns duration, uh for example. That's that's one of the big release.

B

We did for the last couple months that now, for example, bradley milligan.com uh bradley owns that address at the internet domain and if you create a sub domain, called underscore.bradleyvinegar.com.

B

If you put stick ecm address on the dns server, not only ns dns of other text, anyone can retrieve the data from dns server, then can contract the proof and you can post that information into the smart contract too, and what it does is. Dns actually has something called dns sec, which is one of the security protocol, which uh kind of I don't know the full detail, but I get it. It prevents people to kind of do mine in the middle attack by doing uh by parent domain.

B

So if there's a broadly minigun.com dot com will sign the signature to prove that this brand 3 million is signed and also that it's in the chain of trust. So the root domain also says yeah. This dot com exists. So if you retrieve this kind of signature information, you can actually retrieve the public key of the root signer of the dns, because we have that information on chain. We can actually retrieve that signing information to be able to anyone can prove that this text address is in this domain.

B

So by using that, like now, you can basically have internet kind of web 2 or web website. Well, this margin that not just store eta eth is your the pseudo domain, which doesn't actually exist like it's.

B

Ethiopia has a right to have it, but they have a ep domain. So no, no one is using right now right, that's it's kind of emotional to run, but now you can actually have internet uh domain name as ens. This is kind of our biggest uh thing. We've achieved.

A

Michaels, I the censorship resistance right, because one of the advantages of ens.

C

A

The east domain is the censorship resistance, so when you go through a.com who's actually resolving that, is it still the browser with the with the smart contract, or is it going through some resolver.

B

uh So don't so that when you construct the data, it's actually the website our website, just the client website, actually ask a dns server, so the dns is usually used, something called udp protocol. So it's the data is everywhere, but in our case there's a couple endpoint where it shows a dns.

B

Sorry it just give the let me just uh close teragram to just prevent the uh yeah. So we are hitting. I think, google cloud dns to retrieve the data, but it can cloudflare also have an endpoint, so retrieving the data you you can go with any dns. You can ask any dns, but in dumps over your question as a decentralization dot com is, can be sensible right so that don't come can't be seized by whatever the government or whatever the domain provider.

B

So if you get seized, they can basically remove the address. So internet domain based ens name, is not necessarily censorship resistant and then it comes to the okay houses. Resistant.Edh is there's a whole section for that. uh If you, you know, uh wish me till the very end, so I'll just go through, but I'll I'll come back.

A

B

Yeah and they're also yeah, and also, as I keep saying it's not just for eph, it's actually not just for eth as a currency. uh Again, it's just like a you know, phone book, so you can put anything so you can actually put btc ltc dodge over 200 different coins.

B

If wallace supports it, you can actually send a btc to like the s domain name and that I don't think, there's any wallet which supports 200 different currencies, but something like uh I think, binance has a trust wallet. They do uh integrate with ens and they're. Also unstoppable. I think.

B

A

Have a wallet for mkr or is it not supported.

B

Mkl is just a ethereum right. Yes,.

A

B

All the ecm change, so you don't necessarily have to so.

A

You, okay, so you would just oh. This is for, for other.

B

Other channels, okay, yeah, but you can have different yeah, so you we do actually have something like, etc, and uh I think x, star as well, uh which is exactly the same as atc h and there's something like it. Yeah dodge btc. They have a completely different address space right, so you can just store that information.

A

B

B

Yeah one underutilized feature of ens is that you can actually create a subdomain, so what that's like uh argent they used to do. What they used to do is again so again is actually so the dns duration.

B

I just said like we recently released, but we had experimental integration uh iteration for dns only with like xyz for very long time and the later we added like three or four of them, and so for us in xyz it's about seeing wallet, they actually used to create uh in a sub domain for each user, and once it's good, it's like you know. First thing you have to do when you create wallet, is you have to send the funds right? Then I get oh. How do I send to this? Whatever?

B

Oh, I had to do qr code, but, like you know, it's easy to uh send the money to to your own wallet. If you have some domain, uh I.

A

Think ethereum.

B

Is not that active anymore, but like also both there is another example they used to do so. That's kind of usage and there's another kind of feature. We're cooking is uh for example. So one thing I didn't say like so I said: do eth name is nft, so you can trade on an f or open c, but not sub domains. So if you want to turn some domain into uh and key, you have to do customization, which ens is extremely customizable, so you can also do like.

B

We do to turn the uh you know some domain to nft before you have to write your own smart contract and then transfer the ownership of your domain to special smart contract, which actually decentralized actually did so decentralized, has a dcl.eph and they issue subdomains, which they use for their avatar name on decentraland, which is also a dns name, and uh what we are cooking right now is uh we're creating wrapper control, which wraps existing kind of units names and tie everything into elc-1155, which is another standard, nft format.

B

So in very near future you should be a you could actually have it in a matteo is, and you could create lots of subdomains and you could just sell this subdomain on the openc as well, because it's already nft so that's kind of stuff. We are working on as well. It's it's pretty much ready. uh Smart control is ready, get audited. We are kind of building the front end right now and another part not just so. This is still in the active research and the development phase is not just layer one.

B

So, as you know, like you know, gas prices getting crazy, expensive. uh I think three. Four days ago there was a time like gas was like six thousand way or something uh that day someone spent two grand on gas just to get our ens name, it's crazy, expensive, and even now I think it costs like a hundred to two hundred dollars on gas just to register name.

B

That will continue for very long time, but what we want to do on the layout to scaling solutions. We are we, we created some framework to let users to decide which layer 2 solution. You want to resolve your ems name and you can basically, for example, uni swap they could actually have this notion called resolver, which is a special smart contract to resolve your address. Currently that just store the html address or, like all these content record, just returns. What we're trying to do is again.

B

We change the resolver to points to some uh url called uh gateway which is in charge of getting data from different uh network such as layer, 2 or it could be just be at your database.

B

Then, if it's layer 2 especially roll up roll up kind of anchor the security to layer, one that means there is a ways to basically prove layer, two state on layer, one if that's the case, uh basically user. They look up your name on the layer. One then the gateway can fetch the data and prove that that's about it.

B

So by doing that, like it and the user, if each dap can basically have issues sub-domain on the layer two of your choice, so we already have a kind of proof of uh of concept, implementation or optimism. So, for example, udyssa could say we are going to issue subdomain to all users on sub optimism.

B

Updating record users have to do it on optimism, but if I want to send to uh who uniswap.is, I just layer, one and the layer, one much uh using this framework can retrieve the data from operation. So then, like it, you know you could have each app can make a decision. Where do we issue subdomain on the network, so you know make it out good issue uh sub domain.

B

ah Basically they are two networks that that's still a bit long way. uh We, we kind of know we can do it, but to yeah, though I'm kind of actually working on other layers to provide that that how we do it, uh that's actually um research stage and yeah how to use ens. uh I think I can just.

B

So app ens, dot domains is the site and I gonna move it to robson, because I don't want to pay the gas. So you just say what name who we should get.

A

B

Thanks- and so you say, I guess by the way- this is a robston, so it might not be available in the mainnet. Okay, okay, yeah- I'm not buying it. For you, then basically, so this is a registration station there you can buy for one year, but and it's usually, if it's pointing to the main net, it shows how much in usd.

B

But this is tesla it's. It doesn't have an oracle, so it doesn't show, but usually it's like five dollars, but then like in this case, gas costs even cost the same price. But this is like you in grey right. So if you actually switch, if you actually uh sorry, if I actually switch.

B

And yeah, so planet x is taken, so planet x, x.

A

That's the sexy planet x.

B

Yeah, like it yeah x rated planet x, is you can't buy it for five years, but gas cost costs like 134 dollars, it's very expensive. So what we usually recommend is, like you know, uh increased registration yeah, so you could just like you know, have like 200 years or something if you want to you know so, and but like I'm not going to do it a mainnet.

B

So I'm gonna move back to uh robson and I just said two three and if you request to register and you do conform- and this is uh three steps that you fast has to say- request to register- you wait for one minute and after that we send another transaction to complete the registration.

B

uh I wonder if anyone can explain why we do this, rather than just like one click.

A

What do you do waiting for one minute, sorry, why did you wait for one minute.

B

Yeah, that's why it's a quiz pop quiz.

A

Why I have a guess, but I don't know if anyone else wants to take a stab at it, I'm guessing it's for if you have simultaneous requests, you want to resolve who's the well. I don't know how you resolve it, but uh I can see how that could be a problem.

B

Yeah uh it it's kinda ish. So basically you can.

A

Tell me I'm wrong, I I can take it.

B

No, no it's for the in case of like a not necessarily the collision, but it's more about the front running that. If you just say I want this name.

B

While your transaction is pending, everybody can see which name you you are trying to register, so you someone else, can just up the gas and you can snatch the name right because, like some names could be pending for like a couple hours right and if someone put like with two thousand ways they taking on front right here.

B

So when you do this, this is a very uh basic pattern. Whenever you do the uh voting or auction or on chain, is that you basically do something called commit and reveal?

B

So when you do the command, you just hash, the name with some sort of salt. So we you, you basically said I reserve this name without telling everyone what that is, then you wait one minute and when you rebuild, you reveal with actual name.

B

If this at this moment, someone tried to snatch your name, they have to follow the same, commit wait, one minute and do it so it gives basically about one minutes of the head start to prevent someone from you. So one of the important thing is: if your step three takes more than one minute, there is a possibility that someone can fund right now, so that that's it uh okay, then.

C

B

You register and then you open.

B

And once it's uh taken uh registration is complete, it should be available to register. It's that's pretty much easy. It's just that webster may take a while. So.

A

B

B

Good, oh and another thing is important to use. You need to set reverse spectrum to say which are given this address, which name you want to display. You know like uni, swap informat uh case like it was showing the uh like. If you you connect to your wallet while it knows it. Oh someone said five three x registered, then you they need to know what which name. This is so-called reverse record. So if you do currently it's set to mateokun line, but I can change to other names I own.

B

So what was the name I I just registered? uh Actually, interestingly, it's not shy. It should usually show uh here. Let me just try again uh yeah planet xx and if I say.

B

Once this is saved, this material life should change to planet x. Well, that's kind of basically registering and so now I'll get back to.

B

Are there anything else you guys want to demo.

A

um No, I think uh I don't know if you, if you have it later, but uh whenever we use let's say a core unit, uh so yeah, let's say that they want to use one of these um to resolve. To I don't know, probably a website or or an address as well. um Would then people need like? uh Well, I guess you do need a special browser that can actually resolve to these and then well you're kind of.

B

A

It, but I don't know if there's a more.

B

So, to use this site, you usually can use metamask or wallet connect and also, if you can actually manage through multisig, so there's a gnosis safe has an integration. So if you go, they got you got to know, say.

B

Open that up change to main.

B

Yeah, I think if we go to apps section, there is a ens app. I don't know why there are two of them, but if you click it, it embeds the ens name here and you can actually register as a mouth sink so that if you want to do through, so I should please adele.

B

uh You know like if people please us down to bit like an ft that kind of stuff they actually own, please adele, east and the multi-sig. uh I think yeah. I think that's what I asked like that's a fast doubt which owns cns name correctly correctly, because where I integrate this, I went to uh mariano and I said: please do it, so I can blog about it. So yeah, that's what I'm going to okay. So now I get back to this final topic for ens and decentralization.

B

There are a couple of questions which I think one you asked as well is like how how much ens sensor should be resistant and the other question is like. Why can I not own eth name forever and the other question is yeah? You you taking registration, what you're going to do with it? So these are kind of three common questions related to decentralization.

B

I think sensory resistance, so we do have a very we're, not that we don't have down so the our root. So we have a hierarchy. You know like subdomain, all the stuff, so parent domain has the power to overrule subdomain.

B

So matokun has a right to create xyz dot multiplies right, so east has a right to govern names. Underneath root domain has a right to govern.eth, and this root domain is owned by multi-site of seven people, and it's mostly from the people from very you know, well-known uh founders and or isaiah foundation.

B

Nick is on nick johnson. The creator of ens is the only one who belongs as an ens team and they're, not saying so. Whenever we have to upgrade something usually make a change and he uh basically make the transaction and you have the like four out of seven. I think three or four yeah uh signature required, and I think yeah this is this is actually the example. We're using uh this is organized is safe to make the changes that this one was setting or, of course, like.

B

Basically, when we deploy the dns integration, dns has a domain. All of them have a something called dnsec oracle and we he had to upgrade the oracle for some bug fix, so he had to request that's one example. So what they can do is so the eph to like. We are now manually, registering everybody's name.

B

So so there's a thing: it's called register, which is another smart contract which we can change if there's a agreement among the uh multi-city holders, so we they we can't base how if we decide to do it uh nick basically sets a new uh contract.

B

He asks transaction and, if not seek approved, it can be changed and yeah. So you can change the registration fee, renewal fee or also once the name I think when it gets registered each is stored in a smart contract and to restore the money we need approval. The dns team doesn't have a right to withdraw. We have to ask approval from month 6..

B

What you cannot do is once the name is on.

B

Root previously doith was able to overwrite.

B

Your madokundo is because it's parent, but we changed the ownership uh feature to lock that capability, so now root cannot overtake so that that was one of the biggest criticism we we killed right so that that's one one part removed and yeah second question so, but people could lose if they do not renew right and one of the stuff we another, especially in comparison to the unstoppable domains.

B

They they say that you know they are not stoppable right because you buy it and it's forever. People often say why. Why don't you just do that?

B

Technically, you can, like you, know this guy actually uh registered for uh 400 to 171 years. So that's pretty much unstoppable right, but the but the downside for him is he paid 11 grand for that?

B

You know so like if we allow it for one time option everybody do that, but by introducing this annual rep model majority of people don't do this stuff unless they are really really really committed to owning forever. So that's to prevent squatting. That means dns integration.

B

We don't need to do this because dns uh that you know economical ownership belongs to the dns server. So we have no reason to uh take take the fee. I actually suggested. Why don't we just take it and they just give half the icon and we are happy and then nick says no? No, no! No. We don't want that. Okay, yeah so and so the question back to what do we do?

B

We said ethp uh so currently we have over like hundred thousand names and they see directly with like over two, nearly like 300 different dubs with over 100k users, and we really really kind of did well for we kind of decided to kind of get into that kind of. You know hockey stick cup.

B

I don't know how long it's going to last, but like before that, especially last three months that we had like a over 20 the last month, especially we had all wasatik registration and then also we also you know for the renewal people have to pay right so that combined uh we did actually have.

B

Last month we had over, like 2 million uh way more than two million revenue us dollars, and we are doing since very so, like I think in accumulation we had about uh yeah nine million usd so, but we charge usd watson fee in east. We used to use, make a dell oracle.

B

Now we switched to chain link but uh yeah when you pay, you pay is not in the uh die and then because we appreciate we have a lot more now so, which is great in a situation like most stops, like you know, struggle with kind of sustainability model. We have a more than that. I think uh we haven't actually withdrawn any money.

B

Yet apart from oh and then in a perspective, this two medium monthly fee is equivalent to how much synthetics getting you as a protocol fee and yeah, and we don't have 2 million all the time. So it's somewhere between a cob and this synthetics and then like what we did with. Is we didn't really? We still have a grants money. I think he started off with one million grants from his foundation and we also did the short name option.

B

uh Two years ago, which had a more than one million dollars of ease two years ago, so we still have some runway even without taking that money. uh But before doing that, we wanted to kind of pay forward as a the grants we received back in 2017.

B

So we gave 100 ats to git point runs so now. That's why they be showing the big low global ens on the current round, we're supposed to make it give them 1 million, but that was a price in may and it crashed.

B

So I think, by the time we gave it was about 700k, and so that leads to we needed ways to and also we said again, we have about two three hundred doubts integrated without us not giving any like push or anything, but it really that, like our ens, is very simple, smart contract, anyone can focus. Actually it's focused like by like two or three different players actually handshake guys and they they created like a badass or they they actually twice that they created uh was their folk.

B

That kind of stuff, but it really the strength, is how how well uh it's integrated. uh So we want to think about how we have now it's we're in a very good position to have sustainable revenue, how we can put it back to the community so uh yeah, it's kind of open, but like we're kind of looking for governance lee. So if you guys, you know you guys were well connected in the governor's field. So if you know anyone, uh so let me know, uh I think uh that's it and uh yeah.

B

If you I know like this audience, is not necessarily a technical audience but like if you guys in your uni, if you want to do any of the integration uh we are going to have a technical workshop in october, and this this is more like yeah tech orientated, but like if any of your team members, dev, devs or like product managers, uh are key on integrating. Unless using these features, uh I'm going to announce this next week, so ask them to apply yeah.

B

A

Nice, thank you.

B

C

A

For this, because they're quite quite useful- um I don't know if there are any questions: uh planet, x or sudden. I have.

C

A question: um sorry, if you already uh went through this, but I have some uh issues here- um is it possible to to link an ens to an nft you can you can just use the name nft in the ens, as the unit's name? Is that possible.

B

So ens itself is already nft.

B

So if you go to openc.

B

B

It's already enos what we're trying to do in the next version is: if we go to.

B

You can say lots of fuel right.

B

There's a specific field called avatar.

B

We try to put new specification which gets back to yeah. I think you missed somewhere.

B

Somewhere yeah here I'll, make it bigger the text record you can, because the text record you can put anything well. We are writing a specification that you put that uh basically nfc information or we have choice.

A

B

What we want to do is we want to generate an avatar was with your favorite nfp as a background, so that you can put this as a twitter profile. Sometimes, if you also upload twitter address here, you can kind of link, ensc information into twitter right and then on twitter. If you have this image, tweet.

C

B

There's a you know: uh you, you have an ens information, so you kind of cross linking so this could be. The one is to kind of prove that you, you have this ens and we can also check that we can't check if this is really the creep punks or something. So we just check this. This contra address nft contract and toku id is owned by this ens, but, like you, I can that one has a link to open c.

B

So you can actually see that this collection or contract is actually a punk or something someone copy-pasted and created the new one and that that verification you're just doing for other tools. But we.

C

B

Kind of provide a tool to link these together yeah. I.

A

B

Very very gonna be very important because everybody's doing that nowadays right and then yeah.

C

Okay. Thank you um next question. uh Could you talk a little bit about the oracle change from make it out to change.

B

So we're using mega now oracle, it works perfectly and but we're using it for free, and we had a conversation with some of you guys that uh we kind of have to stop paying or we have to be some sort of whitelist body data or something.

C

It sounds yeah, whitelist sounds familiar yeah.

B

Yeah and uh yeah, we have to pay some sort of validator or something, and we didn't want to host any service, because we don't really want to do the hosting provider or anything. And at that time I think.

B

So the if you look at the keyholder.

B

Cell gate from chain link is about to say so nick knew sergey.

B

Then we saw like well do we actually just do extra step to to be the kind of the oracle something to maintain, or should we just pay to change and just pay the money for the usage and just switch to the chain link and they were yeah nick decided. Just let's just do that, because switching the roku was relatively like a couple line code of change. That's how we changed yeah! It's not that, like you know your didn't perform well on anything like that's, not the reason. It's just that convenience was the reason it changed.

B

C

Now, just uh it's always interesting.

B

It's coming, but by the time when I said that that's chance to you know make it out to change. I thought someone's gonna ask that question.

A

Yeah, so just to set the record straight, I think that the policy with oracles is that, uh right now we are like helping small projects take out of the ground um and I don't think, there's any cost involved, uh so it we're still not at the at the stage of monetizing. Any of this.

B

A

It does require weightlifting, you're, right and.

B

Also, to be honest, we could just use unisop oracle. That's completely free.

A

B

So I don't even know why, which paint to change. We could just use uni swap yeah.

A

Oh, you are playing this chain link. I thought you were here for free.

B

No, no, no, no, no, we paid in chaining, but we also got the grants from chain link, so we're just paying that. So it's it's kind of free. You know.

A

So so they give you a loan and you're returning it yeah.

B

Yeah same thing: for for the graph, like a graph, now they're moving towards a decentralized one right yeah, but they give bunch of brands to anyone who integrate and I'm supposed to integrate to the graph from the hosted service to decentralized version, but they also give us some uh enough, uh the their glt glt token yeah to cover. So the idea is rather than just charging straight.

B

You just get a bunch of money enough so that they they agree to do and three four years down the right when they run down the doctor that you know they are already linked. uh You know locked in. So that's how.

C

B

Kind of monetize, I think so you basically you have to give mkl. Don't just wait! You have to give everything out. Okay and you take mikael back over years. That's how business works.

C

uh This uh this oracle's business is going to be interesting yeah.

C

B

C

I have no further questions, oh, but uh keep talking.

B

Yeah is it going to be a big source of revenue? The work will be they'll, be great.

C

Yeah, that would be great.

A

Yeah, so we are in the process of decentralizing, it.

B

A

Want to go on a rant about oracles, but one of the potential ideas is to actually uh create a source of revenue from the oracles, almost like a separated entity. Yeah.

B

A

To be interesting,.

B

But like again like it, can you just you know just use chain uh uni swap that's literally free and they do the time averages stuff. I think so.

C

A

B

I think you're right, you know right, they just use change. uh I think.

A

B

Uniswell, morocco or chaining, or I can't remember but yeah.

C

I think there's some um there's the idea that we need to own our own oracles yeah, although.

B

Yes, otherwise,.

C

Eventually, someone is just gonna, you know basically control our business and we can't help.

A

B

A

Use the medianizer to to avoid the oracle attacks. uh We also have a delay of one hour uh to be able to yeah to let people um yeah.

B

Potentially, just.

A

No, I mean, then there will be no competition right, so that would probably be one of the worst things that could happen in the ethereum industry.

B

ah I think api three, that's a competitor right. They have an.

A

I'm not a temperature.

B

Yeah there's a couple of workflow solutions to you.

C

Well, there's a little problem: there's there's no such thing as a free lunch and the same applies to oracles. So.

B

Your case, you only have the usd e-speed right. You wanna.

A

We have a v now we have a bunch.

B

About oh okay, yeah is.

A

B

Of the quattro you guys have- or it can be anything.

A

No right now, I think we only have feet for all the collateral types and I can't remember how many we have eight, maybe.

B

C

I'll say one one thing.

B

uh Actually, it might be interesting to you guys is like uh uh chain. Am I still sharing.

B

Oh sorry, I forgot.

A

B

Stopped sharing. Sorry, uh if you go to uh yes, they do one ens integration they do is for each pair. It's actually the ens name, I think yeah. So they do have a east usd data is so they got the data.edh so each pair they do as a pairing.

B

That's one of the intuition. They did yeah.

B

I I don't know yeah, that's your business! So I don't I'm not here to comment, but again, I think if you try to monetize it's a bit limiting. If you only have like eight or something but like if it's more for the uh the decentralization purpose, maybe it was which then it sustained yourself yeah sure why not yeah.

A

Yeah, yes, I mean nick is the one spearheading that initiative so uh yeah.

B

Oh yeah, I think I spoke yeah. I spoke to nick and we said sorry, but no thank you.

A

Nice all right so yeah if we have no more questions uh makoto, I want to thank you a lot for coming. This was great. uh Did you already say, wait where people can find you? I think you did right.

B

A

Your last slide.

B

Yeah somewhere, like basically, I have a twitter com, makoto underscore in nowhere. Basically, my full name.

A

B

Yeah, so you can follow me or ens domains is the uh ens twitter handle, so you can follow ens there as well.

A

Nice all right so yeah. Thank you, makoto. Thank you. Everyone else for coming. Thank you. Bye.