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uh<00:00:11.960><c> hi</c><00:00:12.120><c> everyone</c><00:00:12.759><c> um</c><00:00:12.960><c> my</c><00:00:13.080><c> name</c><00:00:13.200><c> is</c><00:00:13.320><c> danev</c>

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uh hi everyone um my name is danev
 

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uh hi everyone um my name is danev
co-founder<00:00:14.360><c> and</c><00:00:14.440><c> CEO</c><00:00:14.719><c> of</c><00:00:14.879><c> rifi</c><00:00:15.879><c> um</c><00:00:16.480><c> and</c><00:00:16.640><c> yeah</c>

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co-founder and CEO of rifi um and yeah
 

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co-founder and CEO of rifi um and yeah
today<00:00:16.920><c> I'm</c><00:00:17.000><c> going</c><00:00:17.080><c> to</c><00:00:17.160><c> talk</c><00:00:17.279><c> to</c><00:00:17.359><c> you</c><00:00:17.480><c> about</c>

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today I'm going to talk to you about
 

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today I'm going to talk to you about
account<00:00:18.080><c> abstraction</c><00:00:18.920><c> and</c><00:00:19.119><c> some</c><00:00:19.240><c> of</c><00:00:19.359><c> the</c>

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account abstraction and some of the
 

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account abstraction and some of the
challenges<00:00:19.800><c> and</c><00:00:19.920><c> opportunities</c><00:00:20.519><c> that</c><00:00:20.880><c> brings</c>

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challenges and opportunities that brings
 

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challenges and opportunities that brings
uh<00:00:22.039><c> we</c><00:00:22.160><c> only</c><00:00:22.359><c> have</c><00:00:22.600><c> five</c><00:00:22.800><c> minutes</c><00:00:23.439><c> so</c><00:00:23.960><c> uh</c><00:00:24.240><c> let's</c>

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uh we only have five minutes so uh let's
 

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uh we only have five minutes so uh let's
get<00:00:24.920><c> uh</c><00:00:25.039><c> let's</c><00:00:25.199><c> get</c><00:00:25.359><c> right</c><00:00:25.519><c> into</c><00:00:25.720><c> it</c><00:00:26.679><c> um</c><00:00:27.199><c> we</c>

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get uh let's get right into it um we
 

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get uh let's get right into it um we
would<00:00:27.480><c> have</c><00:00:27.920><c> uh</c><00:00:28.039><c> heard</c><00:00:28.240><c> a</c><00:00:28.320><c> lot</c><00:00:28.439><c> about</c><00:00:28.679><c> account</c>

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would have uh heard a lot about account
 

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would have uh heard a lot about account
abstraction<00:00:29.199><c> at</c><00:00:29.320><c> this</c><00:00:29.480><c> conference</c>

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abstraction at this conference
 

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abstraction at this conference
uh<00:00:30.920><c> so</c><00:00:31.599><c> I'm</c><00:00:31.679><c> not</c><00:00:31.800><c> going</c><00:00:31.920><c> to</c><00:00:32.040><c> repeat</c><00:00:32.320><c> a</c><00:00:32.439><c> lot</c><00:00:32.559><c> of</c>

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uh so I'm not going to repeat a lot of
 

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uh so I'm not going to repeat a lot of
that<00:00:32.840><c> but</c><00:00:32.960><c> just</c><00:00:33.079><c> to</c><00:00:33.280><c> recap</c><00:00:33.800><c> kind</c><00:00:33.920><c> of</c><00:00:34.000><c> what</c>

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that but just to recap kind of what
 

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that but just to recap kind of what
we're<00:00:34.280><c> trying</c><00:00:34.520><c> to</c><00:00:35.000><c> achieve</c><00:00:35.719><c> um</c><00:00:35.879><c> as</c><00:00:36.000><c> a</c><00:00:36.120><c> basis</c>

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we're trying to achieve um as a basis
 

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we're trying to achieve um as a basis
for<00:00:36.520><c> this</c><00:00:36.760><c> talk</c><00:00:37.760><c> uh</c><00:00:38.079><c> where</c><00:00:38.200><c> we're</c><00:00:38.360><c> aming</c><00:00:38.600><c> to</c>

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for this talk uh where we're aming to
 

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for this talk uh where we're aming to
get<00:00:38.920><c> to</c><00:00:39.200><c> with</c><00:00:39.360><c> chain</c><00:00:39.600><c> abstraction</c><00:00:40.520><c> is</c><00:00:40.840><c> that</c>

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get to with chain abstraction is that
 

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get to with chain abstraction is that
users<00:00:41.600><c> are</c><00:00:41.760><c> oblivious</c><00:00:42.320><c> to</c><00:00:43.000><c> what</c><00:00:43.239><c> chain</c>

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users are oblivious to what chain
 

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users are oblivious to what chain
they're<00:00:44.039><c> transacting</c><00:00:44.640><c> on</c><00:00:45.640><c> um</c><00:00:46.199><c> that's</c>

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they're transacting on um that's
 

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they're transacting on um that's
completely<00:00:46.879><c> removed</c><00:00:47.280><c> from</c><00:00:47.600><c> the</c><00:00:48.000><c> from</c><00:00:48.239><c> the</c>

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completely removed from the from the
 

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completely removed from the from the
from<00:00:48.760><c> the</c><00:00:48.840><c> ux</c><00:00:49.399><c> they</c><00:00:49.520><c> don't</c><00:00:49.760><c> care</c><00:00:50.039><c> is</c><00:00:50.280><c> vitalic</c>

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from the ux they don't care is vitalic
 

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from the ux they don't care is vitalic
called<00:00:50.920><c> yes</c><00:00:51.199><c> the</c><00:00:51.399><c> the</c><00:00:51.520><c> credit</c><00:00:51.800><c> card</c>

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called yes the the credit card
 

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called yes the the credit card
experience<00:00:53.640><c> um</c><00:00:54.199><c> and</c><00:00:54.320><c> the</c><00:00:54.359><c> second</c><00:00:54.840><c> we're</c>

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experience um and the second we're
 

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experience um and the second we're
making<00:00:55.160><c> is</c><00:00:55.239><c> that</c><00:00:55.359><c> users</c><00:00:55.680><c> get</c><00:00:55.840><c> the</c><00:00:56.000><c> best</c>

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making is that users get the best
 

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making is that users get the best
execution<00:00:56.760><c> of</c><00:00:56.879><c> what</c><00:00:57.000><c> they</c><00:00:57.079><c> want</c><00:00:57.160><c> to</c><00:00:57.280><c> do</c><00:00:57.559><c> if</c><00:00:57.680><c> I</c>

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execution of what they want to do if I
 

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execution of what they want to do if I
want<00:00:57.879><c> to</c><00:00:58.079><c> buy</c><00:00:58.600><c> e</c><00:00:58.920><c> with</c><00:00:59.039><c> usdt</c><00:01:00.120><c> I</c><00:01:00.199><c> can</c><00:01:00.359><c> assume</c>

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want to buy e with usdt I can assume
 

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want to buy e with usdt I can assume
that<00:01:00.719><c> I'm</c><00:01:00.840><c> going</c><00:01:00.920><c> to</c><00:01:01.079><c> get</c><00:01:02.079><c> uh</c><00:01:02.359><c> the</c><00:01:02.519><c> best</c><00:01:02.760><c> the</c>

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that I'm going to get uh the best the
 

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that I'm going to get uh the best the
best<00:01:03.039><c> price</c><00:01:03.280><c> for</c><00:01:03.479><c> that</c><00:01:04.479><c> but</c><00:01:05.199><c> what</c><00:01:05.320><c> do</c><00:01:05.439><c> we</c><00:01:05.519><c> have</c>

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best price for that but what do we have
 

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best price for that but what do we have
today<00:01:06.320><c> uh</c><00:01:06.479><c> today</c><00:01:06.760><c> we</c><00:01:06.920><c> have</c><00:01:07.240><c> daps</c><00:01:07.640><c> which</c><00:01:07.759><c> were</c>

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today uh today we have daps which were
 

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today uh today we have daps which were
deployed<00:01:08.520><c> on</c><00:01:08.720><c> multiple</c><00:01:09.119><c> chains</c><00:01:09.720><c> often</c><00:01:09.920><c> in</c><00:01:10.040><c> a</c>

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deployed on multiple chains often in a
 

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deployed on multiple chains often in a
messy<00:01:10.479><c> way</c><00:01:11.159><c> for</c><00:01:11.320><c> example</c><00:01:11.640><c> a</c><00:01:12.240><c> is</c><00:01:12.360><c> on</c><00:01:12.920><c> 13</c>

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messy way for example a is on 13
 

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messy way for example a is on 13
different<00:01:13.520><c> blockchains</c><00:01:14.000><c> that</c><00:01:14.159><c> you</c><00:01:14.240><c> need</c><00:01:14.360><c> to</c>

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different blockchains that you need to
 

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different blockchains that you need to
kind<00:01:14.720><c> of</c><00:01:14.840><c> choose</c><00:01:15.040><c> from</c><00:01:15.200><c> the</c><00:01:15.320><c> UI</c><00:01:15.640><c> connect</c>

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kind of choose from the UI connect
 

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kind of choose from the UI connect
different<00:01:16.200><c> wallets</c><00:01:16.759><c> and</c><00:01:16.880><c> so</c><00:01:17.119><c> on</c><00:01:18.119><c> um</c><00:01:18.640><c> l2s</c><00:01:19.280><c> and</c>

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different wallets and so on um l2s and
 

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different wallets and so on um l2s and
chains<00:01:19.840><c> have</c><00:01:20.000><c> direct</c><00:01:20.360><c> to</c><00:01:20.520><c> consumer</c><00:01:20.960><c> power</c><00:01:21.439><c> so</c>

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chains have direct to consumer power so
 

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chains have direct to consumer power so
there<00:01:22.000><c> are</c><00:01:22.320><c> these</c><00:01:22.799><c> kind</c><00:01:22.920><c> of</c><00:01:23.159><c> strong</c><00:01:23.320><c> Brands</c>

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there are these kind of strong Brands
 

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there are these kind of strong Brands
like<00:01:23.799><c> let's</c><00:01:24.000><c> say</c><00:01:24.240><c> bass</c><00:01:24.680><c> scroll</c><00:01:25.240><c> arbitrum</c><00:01:26.240><c> and</c>

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like let's say bass scroll arbitrum and
 

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like let's say bass scroll arbitrum and
they<00:01:26.880><c> attract</c><00:01:27.240><c> consumers</c><00:01:27.720><c> directly</c><00:01:28.240><c> in</c><00:01:28.479><c> in</c>

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they attract consumers directly in in
 

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they attract consumers directly in in
different<00:01:28.920><c> ways</c><00:01:30.119><c> um</c><00:01:30.600><c> and</c><00:01:30.720><c> the</c><00:01:30.840><c> ecosystems</c><00:01:31.280><c> can</c>

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different ways um and the ecosystems can
 

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different ways um and the ecosystems can
be<00:01:31.560><c> quite</c><00:01:31.799><c> separate</c><00:01:32.479><c> either</c><00:01:32.920><c> ideologically</c>

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be quite separate either ideologically
 

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be quite separate either ideologically
or<00:01:33.960><c> in</c><00:01:34.119><c> ux</c><00:01:34.600><c> so</c><00:01:34.759><c> for</c><00:01:34.920><c> example</c><00:01:35.200><c> a</c><00:01:35.280><c> Solana</c><00:01:35.680><c> user</c>

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or in ux so for example a Solana user
 

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or in ux so for example a Solana user
might<00:01:36.159><c> find</c><00:01:36.880><c> using</c><00:01:37.200><c> an</c><00:01:37.320><c> ethereum</c><00:01:37.920><c> L2</c><00:01:38.439><c> very</c>

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might find using an ethereum L2 very
 

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might find using an ethereum L2 very
strange<00:01:39.880><c> um</c><00:01:40.079><c> and</c><00:01:40.360><c> and</c><00:01:40.520><c> vice</c>

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strange um and and vice
 

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strange um and and vice
versa<00:01:42.680><c> um</c><00:01:43.280><c> but</c><00:01:44.119><c> uh</c><00:01:44.479><c> as</c><00:01:44.600><c> we</c><00:01:44.759><c> have</c><00:01:44.880><c> heard</c><00:01:45.040><c> a</c><00:01:45.119><c> lot</c>

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versa um but uh as we have heard a lot
 

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versa um but uh as we have heard a lot
about<00:01:45.479><c> this</c><00:01:45.600><c> week</c><00:01:45.920><c> there</c><00:01:46.040><c> are</c><00:01:46.119><c> a</c><00:01:46.159><c> lot</c><00:01:46.280><c> of</c>

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about this week there are a lot of
 

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about this week there are a lot of
Technologies<00:01:46.880><c> coming</c><00:01:47.320><c> which</c><00:01:47.439><c> are</c><00:01:47.759><c> which</c><00:01:47.880><c> are</c>

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Technologies coming which are which are
 

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Technologies coming which are which are
going<00:01:48.159><c> to</c><00:01:48.719><c> uh</c><00:01:48.840><c> to</c><00:01:48.960><c> change</c><00:01:49.240><c> this</c><00:01:49.360><c> and</c><00:01:49.479><c> bring</c><00:01:49.680><c> us</c>

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going to uh to change this and bring us
 

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going to uh to change this and bring us
closer<00:01:50.280><c> to</c><00:01:51.159><c> that</c><00:01:51.360><c> dream</c><00:01:51.759><c> state</c><00:01:52.759><c> now</c><00:01:53.240><c> I</c><00:01:53.320><c> think</c>

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closer to that dream state now I think
 

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closer to that dream state now I think
that's<00:01:53.600><c> going</c><00:01:53.680><c> to</c><00:01:53.799><c> have</c><00:01:54.040><c> some</c><00:01:54.399><c> some</c>

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that's going to have some some
 

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that's going to have some some
consequences<00:01:55.680><c> um</c><00:01:55.920><c> and</c><00:01:56.039><c> the</c><00:01:56.119><c> way</c><00:01:56.240><c> we</c><00:01:56.360><c> can</c><00:01:56.479><c> think</c>

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consequences um and the way we can think
 

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consequences um and the way we can think
about<00:01:56.840><c> it</c><00:01:57.039><c> is</c><00:01:58.000><c> uh</c><00:01:58.320><c> pre</c><00:01:58.600><c> kind</c><00:01:58.719><c> of</c><00:01:58.920><c> inter</c><00:01:59.200><c> pre-</c>

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about it is uh pre kind of inter pre-
 

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about it is uh pre kind of inter pre-
internet<00:01:59.719><c> and</c><00:02:00.039><c> pre</c><00:02:01.079><c> Amazon</c><00:02:02.079><c> uh</c><00:02:02.719><c> you</c><00:02:02.840><c> could</c>

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internet and pre Amazon uh you could
 

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internet and pre Amazon uh you could
have<00:02:03.159><c> had</c><00:02:03.320><c> a</c><00:02:03.600><c> like</c><00:02:03.799><c> let's</c><00:02:03.920><c> say</c><00:02:04.039><c> an</c><00:02:04.159><c> electronic</c>

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have had a like let's say an electronic
 

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have had a like let's say an electronic
store<00:02:05.039><c> in</c><00:02:05.159><c> a</c><00:02:05.600><c> town</c><00:02:06.600><c> um</c><00:02:06.799><c> and</c><00:02:06.920><c> all</c><00:02:07.079><c> the</c><00:02:07.200><c> towns</c>

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store in a town um and all the towns
 

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store in a town um and all the towns
would<00:02:07.680><c> be</c><00:02:07.920><c> would</c><00:02:08.039><c> be</c><00:02:08.200><c> separate</c><00:02:09.200><c> and</c><00:02:09.399><c> your</c>

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would be would be separate and your
 

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would be would be separate and your
store<00:02:09.920><c> has</c><00:02:10.039><c> a</c><00:02:10.200><c> captive</c><00:02:10.479><c> audience</c><00:02:10.840><c> the</c><00:02:10.959><c> people</c>

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store has a captive audience the people
 

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store has a captive audience the people
in<00:02:11.280><c> this</c><00:02:11.440><c> town</c><00:02:11.760><c> right</c><00:02:12.480><c> so</c><00:02:13.000><c> you</c><00:02:13.160><c> could</c><00:02:13.440><c> afford</c>

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in this town right so you could afford
 

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in this town right so you could afford
to<00:02:14.519><c> run</c><00:02:14.720><c> a</c><00:02:14.879><c> crappy</c><00:02:15.239><c> store</c><00:02:15.720><c> like</c><00:02:15.920><c> your</c><00:02:16.040><c> store</c>

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to run a crappy store like your store
 

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to run a crappy store like your store
could<00:02:16.400><c> be</c><00:02:16.480><c> a</c><00:02:16.560><c> bit</c><00:02:16.760><c> expensive</c><00:02:17.640><c> it</c><00:02:17.720><c> could</c><00:02:17.879><c> not</c><00:02:18.040><c> be</c>

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could be a bit expensive it could not be
 

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could be a bit expensive it could not be
very<00:02:18.400><c> good</c><00:02:18.959><c> and</c><00:02:19.120><c> people</c><00:02:19.280><c> would</c><00:02:19.440><c> still</c><00:02:19.599><c> come</c><00:02:19.760><c> to</c>

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very good and people would still come to
 

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very good and people would still come to
it<00:02:20.040><c> because</c><00:02:20.200><c> they</c><00:02:20.280><c> don't</c><00:02:20.440><c> really</c><00:02:20.599><c> have</c><00:02:21.080><c> choice</c>

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it because they don't really have choice
 

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it because they don't really have choice
now<00:02:22.920><c> when</c><00:02:23.640><c> Amazon</c><00:02:24.080><c> comes</c><00:02:24.280><c> along</c><00:02:24.680><c> and</c><00:02:24.800><c> people</c>

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now when Amazon comes along and people
 

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now when Amazon comes along and people
now<00:02:25.200><c> have</c><00:02:25.440><c> access</c><00:02:25.680><c> to</c><00:02:25.840><c> the</c><00:02:26.040><c> same</c><00:02:26.640><c> amazing</c>

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now have access to the same amazing
 

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now have access to the same amazing
Marketplace<00:02:28.319><c> um</c><00:02:28.519><c> running</c><00:02:28.800><c> a</c><00:02:28.920><c> crappy</c><00:02:29.239><c> store</c>

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Marketplace um running a crappy store
 

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Marketplace um running a crappy store
becomes<00:02:29.680><c> quite</c><00:02:30.239><c> difficult</c><00:02:30.480><c> right</c><00:02:30.640><c> like</c><00:02:30.760><c> you</c>

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becomes quite difficult right like you
 

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becomes quite difficult right like you
can't<00:02:31.599><c> you</c><00:02:31.720><c> can't</c><00:02:31.920><c> attract</c><00:02:32.599><c> um</c><00:02:32.720><c> users</c><00:02:33.040><c> anymore</c>

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can't you can't attract um users anymore
 

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can't you can't attract um users anymore
you're<00:02:33.599><c> competing</c><00:02:34.239><c> with</c><00:02:34.480><c> kind</c><00:02:34.599><c> of</c><00:02:34.760><c> the</c><00:02:35.000><c> best</c>

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you're competing with kind of the best
 

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you're competing with kind of the best
uh<00:02:36.120><c> the</c><00:02:36.239><c> best</c><00:02:36.400><c> from</c><00:02:36.560><c> all</c><00:02:36.720><c> around</c><00:02:37.000><c> not</c><00:02:37.160><c> just</c><00:02:37.280><c> in</c>

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uh the best from all around not just in
 

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uh the best from all around not just in
your<00:02:37.760><c> town</c><00:02:38.760><c> and</c><00:02:38.879><c> I</c><00:02:39.000><c> think</c><00:02:39.159><c> something</c><00:02:39.400><c> similar</c>

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your town and I think something similar
 

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your town and I think something similar
is<00:02:39.800><c> going</c><00:02:39.959><c> to</c><00:02:40.159><c> happen</c><00:02:41.040><c> uh</c><00:02:41.120><c> with</c><00:02:41.239><c> the</c><00:02:41.400><c> different</c>

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is going to happen uh with the different
 

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is going to happen uh with the different
L2<00:02:42.640><c> uh</c><00:02:42.879><c> ecosystems</c><00:02:43.879><c> um</c><00:02:44.560><c> that</c><00:02:44.879><c> once</c><00:02:45.159><c> users</c><00:02:45.560><c> have</c>

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L2 uh ecosystems um that once users have
 

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L2 uh ecosystems um that once users have
access<00:02:46.640><c> to</c><00:02:46.840><c> the</c><00:02:47.280><c> best</c><00:02:48.280><c> uh</c><00:02:48.519><c> protols</c><00:02:49.280><c> and</c><00:02:49.440><c> so</c><00:02:49.599><c> on</c>

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access to the best uh protols and so on
 

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access to the best uh protols and so on
on<00:02:50.200><c> kind</c><00:02:50.319><c> of</c><00:02:50.440><c> equal</c><00:02:50.680><c> footing</c><00:02:51.519><c> the</c><00:02:51.640><c> ones</c><00:02:51.879><c> which</c>

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on kind of equal footing the ones which
 

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on kind of equal footing the ones which
are<00:02:52.120><c> not</c><00:02:52.280><c> the</c><00:02:52.440><c> best</c><00:02:52.959><c> are</c><00:02:53.200><c> are</c><00:02:53.319><c> really</c><00:02:53.480><c> going</c><00:02:53.599><c> to</c>

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are not the best are are really going to
 

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are not the best are are really going to
suffer<00:02:55.239><c> uh</c><00:02:55.400><c> that's</c><00:02:55.560><c> going</c><00:02:55.680><c> to</c><00:02:56.159><c> cause</c><00:02:56.720><c> a</c><00:02:56.840><c> few</c>

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suffer uh that's going to cause a few
 

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suffer uh that's going to cause a few
effects<00:02:58.319><c> uh</c><00:02:58.480><c> the</c><00:02:58.640><c> first</c><00:02:58.879><c> one</c><00:02:59.080><c> is</c><00:02:59.200><c> the</c><00:02:59.360><c> kind</c><00:02:59.440><c> of</c>

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effects uh the first one is the kind of
 

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effects uh the first one is the kind of
winner<00:02:59.959><c> take</c><00:03:00.159><c> all</c><00:03:00.640><c> liquidity</c><00:03:01.440><c> what</c><00:03:01.560><c> I</c><00:03:01.680><c> mean</c><00:03:01.879><c> by</c>

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winner take all liquidity what I mean by
 

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winner take all liquidity what I mean by
that<00:03:02.319><c> is</c><00:03:02.760><c> that</c><00:03:03.760><c> um</c><00:03:04.360><c> we</c><00:03:04.560><c> have</c><00:03:04.920><c> a</c><00:03:05.200><c> virtuous</c><00:03:05.720><c> cycle</c>

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that is that um we have a virtuous cycle
 

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that is that um we have a virtuous cycle
uh<00:03:06.760><c> that</c><00:03:06.879><c> reinforces</c><00:03:07.560><c> and</c><00:03:07.799><c> makes</c><00:03:07.959><c> the</c><00:03:08.080><c> best</c>

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uh that reinforces and makes the best
 

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uh that reinforces and makes the best
products<00:03:08.720><c> the</c><00:03:08.840><c> best</c><00:03:09.000><c> and</c><00:03:09.120><c> the</c><00:03:09.239><c> worst</c><00:03:09.480><c> products</c>

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products the best and the worst products
 

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products the best and the worst products
even<00:03:10.400><c> worse</c><00:03:11.400><c> uh</c><00:03:11.760><c> let's</c><00:03:11.920><c> say</c><00:03:12.080><c> again</c><00:03:12.239><c> in</c><00:03:12.319><c> our</c>

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even worse uh let's say again in our
 

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even worse uh let's say again in our
example<00:03:12.799><c> we</c><00:03:12.879><c> want</c><00:03:13.000><c> to</c><00:03:13.120><c> buy</c><00:03:13.480><c> e</c><00:03:13.840><c> with</c><00:03:14.080><c> usdt</c><00:03:15.080><c> our</c>

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example we want to buy e with usdt our
 

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example we want to buy e with usdt our
order<00:03:15.560><c> gets</c><00:03:15.799><c> rooted</c><00:03:16.080><c> to</c><00:03:16.200><c> the</c><00:03:16.319><c> most</c><00:03:16.480><c> liquid</c>

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order gets rooted to the most liquid
 

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order gets rooted to the most liquid
pool<00:03:18.159><c> um</c><00:03:18.920><c> and</c><00:03:19.080><c> that</c><00:03:19.239><c> happens</c><00:03:19.720><c> with</c><00:03:20.599><c> uh</c><00:03:20.799><c> kind</c><00:03:20.920><c> of</c>

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pool um and that happens with uh kind of
 

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pool um and that happens with uh kind of
all<00:03:21.200><c> the</c><00:03:21.440><c> orders</c><00:03:22.440><c> um</c><00:03:23.080><c> now</c><00:03:24.080><c> that</c><00:03:24.319><c> generates</c>

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all the orders um now that generates
 

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all the orders um now that generates
more<00:03:25.120><c> fees</c><00:03:25.519><c> for</c><00:03:25.680><c> the</c><00:03:25.799><c> LPS</c><00:03:26.159><c> in</c><00:03:26.280><c> that</c><00:03:26.440><c> pool</c><00:03:26.920><c> more</c>

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more fees for the LPS in that pool more
 

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more fees for the LPS in that pool more
LPS<00:03:27.480><c> go</c><00:03:27.640><c> into</c><00:03:27.799><c> that</c><00:03:27.879><c> pool</c><00:03:28.080><c> it</c><00:03:28.200><c> becomes</c><00:03:28.439><c> even</c>

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LPS go into that pool it becomes even
 

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LPS go into that pool it becomes even
more<00:03:28.799><c> liquid</c><00:03:29.599><c> and</c><00:03:29.879><c> so</c><00:03:30.159><c> and</c><00:03:30.400><c> so</c><00:03:31.040><c> uh</c><00:03:31.159><c> the</c><00:03:31.239><c> wheel</c>

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more liquid and so and so uh the wheel
 

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more liquid and so and so uh the wheel
goes<00:03:32.080><c> and</c><00:03:32.239><c> that</c>

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goes and that
 

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goes and that
attracts<00:03:34.120><c> um</c><00:03:35.000><c> everything</c><00:03:36.000><c> um</c><00:03:36.200><c> and</c><00:03:36.360><c> so</c><00:03:36.920><c> you</c>

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attracts um everything um and so you
 

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attracts um everything um and so you
know<00:03:37.239><c> the</c><00:03:37.439><c> the</c><00:03:37.640><c> top</c><00:03:38.400><c> like</c><00:03:38.599><c> let's</c><00:03:38.799><c> say</c><00:03:39.120><c> a</c><00:03:39.200><c> few</c>

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know the the top like let's say a few
 

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know the the top like let's say a few
pools<00:03:40.159><c> for</c><00:03:40.400><c> this</c><00:03:40.599><c> for</c><00:03:40.799><c> this</c><00:03:40.959><c> pair</c><00:03:41.439><c> maybe</c><00:03:41.760><c> get</c>

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pools for this for this pair maybe get
 

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pools for this for this pair maybe get
used<00:03:42.799><c> the</c><00:03:42.920><c> bottom</c><00:03:43.239><c> ones</c><00:03:43.560><c> will</c><00:03:43.760><c> get</c><00:03:43.959><c> no</c><00:03:44.879><c> uh</c><00:03:45.000><c> will</c>

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used the bottom ones will get no uh will
 

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used the bottom ones will get no uh will
get<00:03:45.360><c> no</c><00:03:46.120><c> uh</c><00:03:46.239><c> flow</c><00:03:46.840><c> whatsoever</c><00:03:47.840><c> so</c><00:03:48.360><c> that</c><00:03:48.480><c> brings</c>

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get no uh flow whatsoever so that brings
 

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get no uh flow whatsoever so that brings
to<00:03:48.840><c> the</c><00:03:48.920><c> next</c><00:03:49.080><c> point</c><00:03:49.239><c> that</c><00:03:49.400><c> like</c><00:03:49.560><c> duplication</c>

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to the next point that like duplication
 

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to the next point that like duplication
is<00:03:50.200><c> pointless</c><00:03:50.760><c> having</c><00:03:51.080><c> the</c><00:03:51.280><c> same</c><00:03:52.120><c> pool</c><00:03:52.439><c> and</c>

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is pointless having the same pool and
 

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is pointless having the same pool and
the<00:03:52.720><c> same</c><00:03:52.959><c> protocol</c><00:03:53.400><c> or</c><00:03:53.560><c> a</c><00:03:53.760><c> fork</c><00:03:54.000><c> of</c><00:03:54.159><c> it</c>

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the same protocol or a fork of it
 

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the same protocol or a fork of it
deployed<00:03:55.760><c> on</c><00:03:56.239><c> 20</c><00:03:56.840><c> chains</c><00:03:57.840><c> um</c><00:03:58.560><c> or</c><00:03:58.799><c> multiple</c>

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deployed on 20 chains um or multiple
 

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deployed on 20 chains um or multiple
times<00:03:59.400><c> on</c><00:03:59.480><c> the</c><00:03:59.519><c> same</c><00:03:59.879><c> chain</c><00:04:00.879><c> uh</c><00:04:01.360><c> makes</c><00:04:01.640><c> no</c>

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times on the same chain uh makes no
 

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times on the same chain uh makes no
sense<00:04:02.439><c> and</c><00:04:02.760><c> it</c><00:04:02.879><c> will</c><00:04:03.079><c> make</c><00:04:03.280><c> even</c><00:04:03.760><c> less</c><00:04:04.040><c> sense</c>

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sense and it will make even less sense
 

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sense and it will make even less sense
um<00:04:04.920><c> in</c><00:04:05.120><c> this</c><00:04:05.680><c> um</c><00:04:05.879><c> in</c><00:04:06.000><c> this</c><00:04:06.319><c> world</c><00:04:07.319><c> now</c><00:04:08.040><c> that</c>

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um in this um in this world now that
 

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um in this um in this world now that
sounds<00:04:09.000><c> a</c><00:04:09.120><c> bit</c><00:04:09.920><c> uh</c><00:04:10.079><c> threatening</c><00:04:10.560><c> a</c><00:04:10.640><c> lot</c><00:04:10.799><c> of</c><00:04:11.560><c> a</c>

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sounds a bit uh threatening a lot of a
 

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sounds a bit uh threatening a lot of a
lot<00:04:11.760><c> of</c><00:04:11.879><c> our</c><00:04:12.079><c> ecosystems</c><00:04:12.799><c> are</c><00:04:13.280><c> duplications</c>

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lot of our ecosystems are duplications
 

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lot of our ecosystems are duplications
in<00:04:14.040><c> Forks</c><00:04:14.920><c> uh</c><00:04:15.120><c> right</c><00:04:15.519><c> now</c><00:04:16.519><c> um</c><00:04:17.400><c> however</c><00:04:17.919><c> there</c>

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in Forks uh right now um however there
 

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in Forks uh right now um however there
is<00:04:18.280><c> also</c><00:04:18.680><c> an</c><00:04:18.799><c> upside</c><00:04:19.199><c> to</c><00:04:19.400><c> that</c><00:04:19.880><c> uh</c><00:04:19.959><c> which</c><00:04:20.079><c> is</c>

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is also an upside to that uh which is
 

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is also an upside to that uh which is
the<00:04:20.280><c> opposite</c><00:04:20.600><c> this</c><00:04:20.720><c> uniqueness</c><00:04:21.160><c> is</c><00:04:21.440><c> rewarded</c>

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the opposite this uniqueness is rewarded
 

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the opposite this uniqueness is rewarded
uh<00:04:22.639><c> if</c><00:04:22.840><c> you</c><00:04:23.280><c> build</c><00:04:23.919><c> uh</c><00:04:24.080><c> a</c><00:04:24.280><c> Dap</c><00:04:24.880><c> or</c><00:04:25.680><c> uh</c><00:04:25.800><c> a</c>

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uh if you build uh a Dap or uh a
 

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uh if you build uh a Dap or uh a
protocol<00:04:26.320><c> that</c><00:04:26.479><c> adds</c><00:04:26.720><c> value</c><00:04:26.960><c> to</c><00:04:27.040><c> the</c>

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protocol that adds value to the
 

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protocol that adds value to the
ecosystem<00:04:28.080><c> it</c><00:04:28.199><c> will</c><00:04:28.400><c> now</c><00:04:28.560><c> be</c><00:04:28.800><c> exposed</c><00:04:29.400><c> to</c><00:04:29.600><c> the</c>

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ecosystem it will now be exposed to the
 

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ecosystem it will now be exposed to the
the<00:04:29.880><c> whole</c><00:04:30.039><c> ecosystem</c><00:04:30.639><c> not</c><00:04:30.840><c> just</c><00:04:31.160><c> this</c><00:04:31.360><c> chain</c>

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the whole ecosystem not just this chain
 

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the whole ecosystem not just this chain
but<00:04:32.280><c> all</c><00:04:32.479><c> the</c><00:04:32.600><c> ones</c><00:04:32.880><c> which</c><00:04:33.000><c> are</c><00:04:33.360><c> which</c><00:04:33.479><c> are</c>

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but all the ones which are which are
 

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but all the ones which are which are
connected<00:04:34.039><c> to</c><00:04:34.199><c> it</c><00:04:34.479><c> so</c><00:04:34.680><c> if</c><00:04:34.759><c> you</c><00:04:34.880><c> bring</c><00:04:35.160><c> if</c><00:04:35.240><c> you</c>

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connected to it so if you bring if you
 

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connected to it so if you bring if you
build<00:04:35.600><c> something</c><00:04:35.840><c> of</c><00:04:36.080><c> value</c><00:04:36.479><c> it</c><00:04:36.600><c> will</c><00:04:36.840><c> be</c><00:04:37.800><c> uh</c>

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build something of value it will be uh
 

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build something of value it will be uh
exposed<00:04:38.919><c> to</c><00:04:39.080><c> a</c><00:04:39.199><c> much</c><00:04:39.360><c> bigger</c><00:04:39.600><c> audience</c><00:04:40.280><c> uh</c>

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exposed to a much bigger audience uh
 

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exposed to a much bigger audience uh
regardless<00:04:40.840><c> of</c><00:04:41.000><c> what</c><00:04:41.160><c> else</c><00:04:41.400><c> happens</c><00:04:41.680><c> on</c><00:04:41.880><c> this</c>

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regardless of what else happens on this
 

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regardless of what else happens on this
particular<00:04:42.479><c> chain</c><00:04:42.720><c> you</c><00:04:42.840><c> no</c><00:04:42.960><c> longer</c><00:04:43.199><c> need</c><00:04:43.360><c> to</c>

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particular chain you no longer need to
 

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particular chain you no longer need to
have<00:04:44.560><c> kind</c><00:04:44.680><c> of</c><00:04:44.840><c> Primitives</c><00:04:45.320><c> on</c><00:04:45.440><c> each</c><00:04:45.960><c> chain</c><00:04:46.960><c> um</c>

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have kind of Primitives on each chain um
 

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have kind of Primitives on each chain um
which<00:04:48.840><c> brings</c><00:04:49.199><c> to</c><00:04:49.320><c> my</c><00:04:49.479><c> next</c><00:04:49.680><c> point</c><00:04:50.039><c> that</c><00:04:50.800><c> um</c><00:04:51.320><c> up</c>

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which brings to my next point that um up
 

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which brings to my next point that um up
in<00:04:51.919><c> this</c><00:04:52.120><c> in</c><00:04:52.280><c> this</c><00:04:52.479><c> situation</c><00:04:53.479><c> if</c><00:04:53.680><c> we</c><00:04:53.880><c> think</c>

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in this in this situation if we think
 

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in this in this situation if we think
about<00:04:55.360><c> uh</c><00:04:55.479><c> that</c><00:04:55.600><c> a</c><00:04:55.759><c> unique</c><00:04:56.160><c> use</c><00:04:56.520><c> case</c><00:04:56.720><c> is</c><00:04:56.919><c> what</c>

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about uh that a unique use case is what
 

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about uh that a unique use case is what
brings<00:04:57.759><c> value</c><00:04:58.000><c> to</c><00:04:58.160><c> the</c><00:04:58.400><c> chain</c><00:04:59.400><c> the</c><00:05:00.000><c> kind</c><00:05:00.120><c> of</c>

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brings value to the chain the kind of
 

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brings value to the chain the kind of
value<00:05:00.680><c> of</c><00:05:00.840><c> this</c><00:05:00.960><c> chain</c><00:05:01.199><c> and</c><00:05:01.320><c> the</c><00:05:01.400><c> value</c><00:05:01.639><c> of</c>

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value of this chain and the value of
 

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value of this chain and the value of
this<00:05:01.840><c> protocol</c><00:05:02.199><c> converge</c><00:05:02.680><c> so</c><00:05:02.919><c> we</c><00:05:03.039><c> could</c>

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this protocol converge so we could
 

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this protocol converge so we could
see<00:05:05.240><c> um</c><00:05:06.240><c> the</c><00:05:06.400><c> kind</c><00:05:06.520><c> of</c><00:05:06.639><c> app</c><00:05:06.880><c> chain</c><00:05:07.360><c> thesis</c><00:05:08.360><c> um</c>

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see um the kind of app chain thesis um
 

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see um the kind of app chain thesis um
coming<00:05:08.919><c> back</c><00:05:09.520><c> that</c><00:05:09.720><c> you</c><00:05:09.880><c> only</c><00:05:10.080><c> need</c><00:05:10.400><c> one</c><00:05:11.240><c> good</c>

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coming back that you only need one good
 

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coming back that you only need one good
use<00:05:11.800><c> case</c><00:05:11.919><c> on</c><00:05:12.039><c> a</c><00:05:12.160><c> chain</c><00:05:12.680><c> to</c><00:05:13.560><c> uh</c><00:05:13.720><c> to</c><00:05:13.880><c> make</c><00:05:14.039><c> it</c>

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use case on a chain to uh to make it
 

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use case on a chain to uh to make it
successful<00:05:15.080><c> uh</c><00:05:15.160><c> so</c><00:05:15.360><c> we</c><00:05:15.479><c> could</c><00:05:15.680><c> see</c><00:05:16.320><c> uh</c><00:05:16.440><c> each</c>

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successful uh so we could see uh each
 

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successful uh so we could see uh each
use<00:05:16.960><c> case</c><00:05:17.280><c> having</c><00:05:18.280><c> um</c><00:05:18.639><c> having</c><00:05:18.880><c> its</c><00:05:19.039><c> own</c><00:05:19.199><c> chain</c>

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use case having um having its own chain
 

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use case having um having its own chain
for<00:05:19.759><c> example</c><00:05:20.759><c> you</c><00:05:20.880><c> know</c><00:05:21.039><c> if</c><00:05:21.120><c> we</c><00:05:21.280><c> here</c><00:05:21.479><c> created</c>

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for example you know if we here created
 

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for example you know if we here created
a<00:05:21.840><c> layer</c><00:05:22.120><c> two</c><00:05:22.840><c> and</c><00:05:22.960><c> the</c><00:05:23.080><c> only</c><00:05:23.319><c> thing</c><00:05:23.840><c> on</c><00:05:24.000><c> it</c><00:05:24.240><c> was</c>

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a layer two and the only thing on it was
 

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a layer two and the only thing on it was
we<00:05:25.319><c> integrated</c><00:05:26.319><c> uh</c><00:05:26.520><c> Tai</c><00:05:26.840><c> bat</c><00:05:27.400><c> payments</c><00:05:28.400><c> um</c><00:05:29.000><c> now</c>

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we integrated uh Tai bat payments um now
 

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we integrated uh Tai bat payments um now
that<00:05:29.280><c> could</c><00:05:29.400><c> be</c><00:05:29.919><c> into</c><00:05:30.039><c> the</c><00:05:30.199><c> rest</c><00:05:30.360><c> of</c><00:05:31.000><c> uh</c><00:05:31.160><c> the</c>

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that could be into the rest of uh the
 

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that could be into the rest of uh the
l2s<00:05:32.280><c> and</c><00:05:32.400><c> so</c><00:05:32.560><c> they</c><00:05:32.680><c> could</c><00:05:32.840><c> access</c><00:05:33.160><c> that</c><00:05:33.280><c> and</c><00:05:33.360><c> we</c>

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l2s and so they could access that and we
 

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l2s and so they could access that and we
could<00:05:33.600><c> have</c><00:05:33.720><c> nothing</c><00:05:33.960><c> else</c><00:05:34.160><c> on</c><00:05:34.319><c> this</c><00:05:34.479><c> chain</c><00:05:34.800><c> so</c>

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could have nothing else on this chain so
 

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could have nothing else on this chain so
the<00:05:35.199><c> the</c><00:05:35.280><c> use</c><00:05:35.600><c> case</c><00:05:35.720><c> in</c><00:05:35.880><c> the</c><00:05:36.000><c> chain</c><00:05:36.960><c> um</c>

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the the use case in the chain um
 

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the the use case in the chain um
converge<00:05:38.560><c> so</c><00:05:39.560><c> uh</c><00:05:39.960><c> we're</c><00:05:40.240><c> just</c><00:05:40.680><c> uh</c><00:05:40.800><c> wrapping</c><00:05:41.120><c> up</c>

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converge so uh we're just uh wrapping up
 

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converge so uh we're just uh wrapping up
now<00:05:42.039><c> so</c><00:05:43.039><c> I</c><00:05:43.160><c> guess</c><00:05:43.319><c> the</c><00:05:43.440><c> whole</c><00:05:43.639><c> point</c><00:05:44.319><c> uh</c><00:05:44.520><c> of</c>

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now so I guess the whole point uh of
 

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now so I guess the whole point uh of
what<00:05:44.759><c> I'm</c><00:05:44.880><c> trying</c><00:05:45.080><c> to</c><00:05:45.240><c> say</c><00:05:45.520><c> is</c><00:05:46.520><c> uh</c><00:05:46.680><c> many</c><00:05:46.880><c> of</c><00:05:47.000><c> you</c>

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what I'm trying to say is uh many of you
 

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what I'm trying to say is uh many of you
may<00:05:47.319><c> be</c><00:05:48.160><c> uh</c><00:05:48.280><c> Founders</c><00:05:49.240><c> Builders</c><00:05:50.240><c> uh</c><00:05:50.680><c> maybe</c>

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may be uh Founders Builders uh maybe
 

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may be uh Founders Builders uh maybe
investors<00:05:52.880><c> um</c><00:05:54.280><c> Don't</c><00:05:55.280><c> Waste</c><00:05:55.600><c> Your</c><00:05:55.880><c> Precious</c>

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investors um Don't Waste Your Precious
 

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investors um Don't Waste Your Precious
time<00:05:56.479><c> and</c><00:05:56.639><c> energy</c><00:05:57.000><c> building</c><00:05:57.759><c> Forks</c><00:05:58.759><c> of</c><00:05:59.160><c> of</c>

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time and energy building Forks of of
 

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time and energy building Forks of of
things

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things
 

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things
um<00:06:01.080><c> if</c><00:06:01.199><c> you</c><00:06:01.360><c> have</c><00:06:01.560><c> that</c><00:06:01.759><c> voice</c><00:06:02.039><c> going</c><00:06:02.240><c> in</c><00:06:02.319><c> your</c>

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um if you have that voice going in your
 

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um if you have that voice going in your
head<00:06:02.759><c> like</c><00:06:02.960><c> oh</c><00:06:03.120><c> let's</c><00:06:03.319><c> do</c><00:06:03.479><c> another</c><00:06:03.680><c> Unis</c><00:06:03.960><c> swap</c>

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head like oh let's do another Unis swap
 

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head like oh let's do another Unis swap
fork<00:06:04.400><c> with</c><00:06:04.520><c> a</c><00:06:04.639><c> token</c><00:06:04.919><c> on</c><00:06:05.080><c> this</c><00:06:05.199><c> new</c><00:06:05.360><c> chain</c><00:06:05.600><c> and</c>

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fork with a token on this new chain and
 

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fork with a token on this new chain and
we'll<00:06:05.840><c> make</c><00:06:05.960><c> loads</c><00:06:06.160><c> of</c><00:06:06.280><c> money</c><00:06:07.080><c> shut</c><00:06:07.400><c> that</c><00:06:07.599><c> down</c>

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we'll make loads of money shut that down
 

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we'll make loads of money shut that down
shut<00:06:08.560><c> it</c><00:06:08.720><c> down</c><00:06:09.199><c> and</c><00:06:09.400><c> do</c><00:06:09.599><c> something</c><00:06:09.919><c> that</c>

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shut it down and do something that
 

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shut it down and do something that
matters<00:06:10.840><c> because</c><00:06:11.120><c> you'll</c><00:06:11.319><c> be</c><00:06:11.479><c> rewarded</c><00:06:12.199><c> more</c>

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matters because you'll be rewarded more
 

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matters because you'll be rewarded more
than<00:06:12.599><c> ever</c><00:06:13.080><c> because</c><00:06:13.599><c> this</c><00:06:15.039><c> uh</c><00:06:16.039><c> this</c><00:06:16.280><c> mechanic</c>

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than ever because this uh this mechanic
 

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than ever because this uh this mechanic
makes<00:06:17.120><c> sure</c><00:06:17.400><c> that</c><00:06:17.639><c> like</c><00:06:17.800><c> unique</c><00:06:18.199><c> things</c><00:06:18.400><c> that</c>

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makes sure that like unique things that
 

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makes sure that like unique things that
add<00:06:18.840><c> value</c><00:06:19.599><c> get</c><00:06:19.840><c> exposed</c><00:06:20.199><c> to</c><00:06:20.319><c> the</c><00:06:20.479><c> whole</c>

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add value get exposed to the whole
 

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add value get exposed to the whole
ecosystem<00:06:21.840><c> um</c><00:06:22.080><c> immediately</c><00:06:22.880><c> so</c><00:06:23.199><c> you'll</c><00:06:23.400><c> be</c>

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ecosystem um immediately so you'll be
 

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ecosystem um immediately so you'll be
rewarded<00:06:23.880><c> more</c><00:06:24.000><c> than</c><00:06:24.160><c> ever</c><00:06:24.400><c> for</c><00:06:24.639><c> it</c><00:06:25.639><c> um</c><00:06:25.960><c> yeah</c>

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rewarded more than ever for it um yeah
 

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rewarded more than ever for it um yeah
thank<00:06:26.360><c> you</c><00:06:26.520><c> and</c><00:06:26.639><c> I</c><00:06:26.720><c> think</c><00:06:26.919><c> now</c><00:06:27.039><c> we're</c><00:06:27.199><c> going</c><00:06:27.280><c> to</c>

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thank you and I think now we're going to
 

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thank you and I think now we're going to
take<00:06:28.120><c> some</c><00:06:29.000><c> uh</c><00:06:29.160><c> questions</c>

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take some uh questions
 

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take some uh questions
yes<00:06:31.080><c> thanks</c><00:06:31.280><c> a</c><00:06:31.400><c> lot</c><00:06:31.680><c> Danielle</c><00:06:32.680><c> all</c><00:06:32.840><c> right</c><00:06:33.319><c> so</c>

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yes thanks a lot Danielle all right so
 

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yes thanks a lot Danielle all right so
we're<00:06:33.800><c> going</c><00:06:33.880><c> to</c><00:06:34.160><c> do</c><00:06:34.360><c> the</c><00:06:34.520><c> questions</c><00:06:34.919><c> with</c><00:06:35.120><c> the</c>

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we're going to do the questions with the
 

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we're going to do the questions with the
catchbox<00:06:36.240><c> if</c><00:06:36.360><c> you're</c><00:06:36.560><c> familiar</c><00:06:37.000><c> with</c><00:06:37.120><c> it</c><00:06:37.560><c> I'm</c>

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catchbox if you're familiar with it I'm
 

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catchbox if you're familiar with it I'm
just<00:06:37.840><c> going</c><00:06:37.960><c> to</c><00:06:38.319><c> throw</c><00:06:38.599><c> it</c><00:06:38.759><c> to</c><00:06:38.919><c> you</c><00:06:39.240><c> you're</c>

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just going to throw it to you you're
 

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just going to throw it to you you're
going<00:06:39.520><c> to</c><00:06:39.800><c> speak</c><00:06:40.080><c> into</c><00:06:40.319><c> the</c><00:06:40.440><c> box</c><00:06:41.319><c> and</c><00:06:41.479><c> that's</c>

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going to speak into the box and that's
 

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going to speak into the box and that's
how<00:06:41.720><c> we're</c><00:06:41.840><c> going</c><00:06:41.960><c> to</c><00:06:42.080><c> do</c><00:06:42.199><c> it</c><00:06:42.400><c> so</c><00:06:42.599><c> raise</c><00:06:42.840><c> your</c>

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how we're going to do it so raise your
 

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how we're going to do it so raise your
hand<00:06:44.080><c> if</c><00:06:44.160><c> you</c><00:06:44.360><c> have</c><00:06:44.720><c> any</c><00:06:45.000><c> questions</c><00:06:45.880><c> and</c><00:06:46.080><c> we'll</c>

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hand if you have any questions and we'll
 

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hand if you have any questions and we'll
get<00:06:46.599><c> the</c><00:06:46.919><c> box</c><00:06:47.199><c> to</c>

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get the box to
 

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get the box to
you<00:06:49.560><c> come</c><00:06:49.680><c> on</c><00:06:50.400><c> yes</c><00:06:50.800><c> amazing</c><00:06:51.599><c> so</c><00:06:52.160><c> get</c><00:06:52.520><c> ready</c><00:06:53.520><c> and</c>

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you come on yes amazing so get ready and
 

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you come on yes amazing so get ready and
catch<00:06:56.960><c> okay</c><00:06:57.840><c> um</c><00:06:58.000><c> so</c><00:06:58.120><c> you</c><00:06:58.280><c> talk</c><00:06:58.560><c> about</c><00:06:59.000><c> unique</c>

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catch okay um so you talk about unique
 

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catch okay um so you talk about unique
um<00:07:00.680><c> daps</c><00:07:01.039><c> on</c><00:07:01.240><c> chains</c><00:07:01.639><c> have</c><00:07:01.759><c> you</c><00:07:01.879><c> got</c><00:07:02.000><c> any</c>

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um daps on chains have you got any
 

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um daps on chains have you got any
examples<00:07:02.800><c> where</c><00:07:02.960><c> this</c><00:07:03.080><c> is</c><00:07:03.319><c> already</c><00:07:04.000><c> kind</c><00:07:04.160><c> of</c>

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examples where this is already kind of
 

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examples where this is already kind of
bearing

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bearing
 

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bearing
fruit<00:07:06.800><c> um</c><00:07:07.240><c> yeah</c><00:07:07.360><c> so</c><00:07:07.720><c> I</c><00:07:07.840><c> think</c><00:07:08.479><c> we</c><00:07:08.599><c> can</c><00:07:08.720><c> see</c>

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fruit um yeah so I think we can see
 

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fruit um yeah so I think we can see
examples<00:07:09.400><c> of</c><00:07:09.560><c> some</c><00:07:09.720><c> chains</c><00:07:10.000><c> that</c><00:07:10.199><c> have</c>

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examples of some chains that have
 

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examples of some chains that have
managed<00:07:10.720><c> to</c><00:07:11.120><c> like</c><00:07:11.280><c> build</c><00:07:11.520><c> a</c><00:07:11.639><c> mo</c><00:07:12.080><c> because</c><00:07:12.280><c> of</c><00:07:13.039><c> um</c>

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managed to like build a mo because of um
 

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managed to like build a mo because of um
difficult<00:07:13.919><c> to</c><00:07:14.160><c> copy</c><00:07:15.160><c> um</c><00:07:15.680><c> Mechanics</c><00:07:16.319><c> for</c>

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difficult to copy um Mechanics for
 

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difficult to copy um Mechanics for
example<00:07:16.840><c> Tron</c><00:07:17.800><c> uh</c><00:07:17.919><c> which</c><00:07:18.000><c> you</c><00:07:18.120><c> know</c><00:07:18.319><c> you</c><00:07:18.440><c> know</c>

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example Tron uh which you know you know
 

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example Tron uh which you know you know
we're<00:07:19.160><c> at</c><00:07:19.280><c> Devcon</c><00:07:20.240><c> uh</c><00:07:20.360><c> it's</c><00:07:20.440><c> not</c><00:07:20.560><c> an</c><00:07:20.680><c> evm</c><00:07:20.960><c> chain</c>

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we're at Devcon uh it's not an evm chain
 

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we're at Devcon uh it's not an evm chain
but<00:07:21.599><c> Tron</c><00:07:22.160><c> has</c><00:07:22.280><c> a</c><00:07:22.479><c> very</c><00:07:22.680><c> big</c><00:07:22.879><c> network</c><00:07:23.199><c> of</c>

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but Tron has a very big network of
 

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but Tron has a very big network of
payment<00:07:23.639><c> service</c><00:07:24.160><c> providers</c><00:07:25.160><c> um</c><00:07:25.560><c> which</c><00:07:25.680><c> has</c>

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payment service providers um which has
 

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payment service providers um which has
made<00:07:26.000><c> it</c><00:07:26.080><c> very</c><00:07:26.240><c> useful</c><00:07:26.560><c> in</c><00:07:26.599><c> a</c><00:07:26.680><c> lot</c><00:07:26.800><c> of</c><00:07:26.879><c> emerging</c>

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made it very useful in a lot of emerging
 

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made it very useful in a lot of emerging
economies<00:07:27.919><c> and</c><00:07:28.160><c> now</c><00:07:29.000><c> although</c><00:07:29.280><c> Tron</c><00:07:29.599><c> is</c>

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economies and now although Tron is
 

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economies and now although Tron is
expensive<00:07:30.319><c> and</c><00:07:30.479><c> kind</c><00:07:30.599><c> of</c><00:07:30.680><c> out</c><00:07:30.800><c> of</c><00:07:30.960><c> fashion</c><00:07:31.160><c> and</c>

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expensive and kind of out of fashion and
 

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expensive and kind of out of fashion and
all<00:07:31.400><c> is</c><00:07:31.520><c> modern</c><00:07:31.800><c> and</c><00:07:31.960><c> like</c><00:07:32.080><c> other</c><00:07:32.319><c> chains</c><00:07:32.919><c> are</c>

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all is modern and like other chains are
 

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all is modern and like other chains are
poised<00:07:33.479><c> to</c><00:07:33.599><c> kind</c><00:07:33.720><c> of</c><00:07:33.800><c> steal</c><00:07:34.039><c> their</c><00:07:34.160><c> uses</c><00:07:35.160><c> that</c>

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poised to kind of steal their uses that
 

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poised to kind of steal their uses that
uh<00:07:36.319><c> in</c><00:07:36.680><c> that</c><00:07:36.919><c> that</c><00:07:37.039><c> network</c><00:07:37.360><c> of</c><00:07:37.479><c> PSPs</c><00:07:37.879><c> is</c>

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uh in that that network of PSPs is
 

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uh in that that network of PSPs is
difficult<00:07:38.280><c> to</c><00:07:38.440><c> replicate</c><00:07:38.960><c> so</c><00:07:39.199><c> they</c><00:07:39.360><c> have</c><00:07:39.479><c> a</c>

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difficult to replicate so they have a
 

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difficult to replicate so they have a
mode<00:07:40.280><c> and</c><00:07:40.560><c> and</c><00:07:40.680><c> that</c><00:07:40.879><c> has</c><00:07:41.080><c> use</c><00:07:42.000><c> and</c><00:07:42.160><c> I</c><00:07:42.319><c> think</c>

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mode and and that has use and I think
 

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mode and and that has use and I think
we're<00:07:43.080><c> going</c><00:07:43.199><c> to</c><00:07:43.360><c> see</c><00:07:43.759><c> something</c><00:07:44.120><c> similar</c>

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we're going to see something similar
 

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we're going to see something similar
happen<00:07:44.919><c> with</c><00:07:45.879><c> uh</c><00:07:46.319><c> coinbase</c><00:07:47.319><c> base</c><00:07:47.840><c> and</c><00:07:48.039><c> ink</c>

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happen with uh coinbase base and ink
 

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happen with uh coinbase base and ink
from<00:07:48.599><c> Kraken</c><00:07:49.479><c> being</c><00:07:49.840><c> very</c><00:07:50.240><c> efficient</c><00:07:50.759><c> on</c>

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from Kraken being very efficient on
 

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from Kraken being very efficient on
ramping<00:07:52.360><c> um</c><00:07:52.599><c> rails</c><00:07:53.080><c> because</c><00:07:53.280><c> they</c><00:07:53.599><c> have</c><00:07:54.319><c> um</c>

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ramping um rails because they have um
 

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ramping um rails because they have um
the<00:07:54.919><c> kind</c><00:07:55.039><c> of</c><00:07:55.199><c> relationships</c><00:07:55.840><c> with</c><00:07:56.039><c> the</c><00:07:56.159><c> with</c>

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the kind of relationships with the with
 

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the kind of relationships with the with
the<00:07:56.319><c> banks</c><00:07:56.520><c> and</c><00:07:56.639><c> payments</c><00:07:56.960><c> providers</c><00:07:57.400><c> that</c>

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the banks and payments providers that
 

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the banks and payments providers that
other<00:07:58.240><c> chains</c><00:07:58.479><c> might</c><00:07:58.639><c> not</c><00:07:58.879><c> have</c><00:07:59.560><c> and</c><00:07:59.960><c> that's</c>

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other chains might not have and that's
 

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other chains might not have and that's
something<00:08:00.360><c> that</c><00:08:00.479><c> will</c><00:08:00.599><c> be</c><00:08:00.919><c> difficult</c><00:08:01.120><c> to</c><00:08:02.000><c> to</c>

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something that will be difficult to to
 

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something that will be difficult to to
replicate<00:08:03.440><c> um</c><00:08:03.680><c> and</c><00:08:03.879><c> and</c><00:08:04.039><c> compete</c>

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replicate um and and compete
 

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replicate um and and compete
with<00:08:06.520><c> all</c><00:08:06.720><c> right</c><00:08:07.000><c> I</c><00:08:07.120><c> saw</c><00:08:07.319><c> another</c><00:08:07.639><c> question</c>

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with all right I saw another question
 

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with all right I saw another question
over<00:08:08.280><c> here</c><00:08:08.560><c> can</c><00:08:08.680><c> you</c><00:08:08.840><c> get</c><00:08:09.039><c> the</c><00:08:09.360><c> the</c><00:08:09.479><c> box</c><00:08:09.720><c> to</c>

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over here can you get the the box to
 

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over here can you get the the box to
this<00:08:10.120><c> person</c>

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this person
 

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this person
perfect<00:08:12.159><c> uh</c><00:08:12.599><c> yeah</c><00:08:13.039><c> one</c><00:08:13.319><c> my</c><00:08:13.520><c> questions</c><00:08:13.879><c> is</c><00:08:14.080><c> that</c>

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perfect uh yeah one my questions is that
 

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perfect uh yeah one my questions is that
I<00:08:14.400><c> think</c><00:08:14.879><c> liquidity</c><00:08:15.879><c> definitely</c><00:08:16.440><c> is</c><00:08:16.639><c> the</c><00:08:17.039><c> key</c>

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I think liquidity definitely is the key
 

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I think liquidity definitely is the key
here<00:08:18.280><c> what</c><00:08:18.400><c> are</c><00:08:18.560><c> some</c><00:08:18.720><c> of</c><00:08:18.960><c> the</c><00:08:19.479><c> best</c><00:08:19.960><c> practices</c>

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here what are some of the best practices
 

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here what are some of the best practices
or<00:08:21.120><c> strategies</c><00:08:21.680><c> has</c><00:08:21.919><c> worked</c><00:08:22.800><c> uh</c><00:08:22.919><c> to</c><00:08:23.560><c> basically</c>

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or strategies has worked uh to basically
 

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or strategies has worked uh to basically
tracking<00:08:24.840><c> liquidity</c><00:08:25.360><c> to</c><00:08:25.520><c> the</c>

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tracking liquidity to the
 

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tracking liquidity to the
CHF<00:08:28.039><c> yeah</c><00:08:28.199><c> so</c><00:08:28.759><c> in</c><00:08:28.879><c> terms</c><00:08:29.120><c> of</c><00:08:29.720><c> um</c><00:08:29.919><c> yeah</c><00:08:30.080><c> how</c><00:08:30.199><c> do</c>

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CHF yeah so in terms of um yeah how do
 

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CHF yeah so in terms of um yeah how do
we<00:08:30.400><c> attract</c><00:08:30.720><c> liquidity</c><00:08:31.120><c> how</c><00:08:31.199><c> do</c><00:08:31.319><c> we</c><00:08:31.440><c> fight</c>

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we attract liquidity how do we fight
 

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we attract liquidity how do we fight
this<00:08:32.120><c> this</c><00:08:32.360><c> mechanic</c><00:08:33.360><c> um</c><00:08:33.839><c> so</c><00:08:34.320><c> the</c><00:08:34.519><c> first</c><00:08:34.760><c> one</c>

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this this mechanic um so the first one
 

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this this mechanic um so the first one
which<00:08:36.919><c> you</c><00:08:37.120><c> know</c><00:08:38.120><c> doesn't</c><00:08:38.320><c> sound</c><00:08:38.560><c> serious</c><00:08:38.880><c> but</c>

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which you know doesn't sound serious but
 

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which you know doesn't sound serious but
it<00:08:39.120><c> kind</c><00:08:39.240><c> of</c><00:08:39.360><c> is</c><00:08:39.719><c> is</c><00:08:40.120><c> like</c><00:08:40.680><c> bribing</c><00:08:41.680><c> the</c>

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it kind of is is like bribing the
 

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it kind of is is like bribing the
solvers<00:08:42.719><c> and</c><00:08:43.080><c> the</c><00:08:43.760><c> intent</c><00:08:44.760><c> uh</c><00:08:44.959><c> intent</c>

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solvers and the intent uh intent
 

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solvers and the intent uh intent
networks<00:08:46.440><c> um</c><00:08:46.800><c> I</c><00:08:46.920><c> think</c><00:08:47.080><c> we</c><00:08:47.240><c> will</c><00:08:47.480><c> see</c><00:08:48.240><c> chains</c>

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networks um I think we will see chains
 

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networks um I think we will see chains
of<00:08:48.760><c> protocols</c><00:08:49.360><c> essentially</c><00:08:49.800><c> sort</c><00:08:49.920><c> of</c><00:08:50.080><c> paying</c>

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of protocols essentially sort of paying
 

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of protocols essentially sort of paying
for<00:08:50.480><c> order</c><00:08:50.760><c> flow</c><00:08:51.399><c> which</c><00:08:51.519><c> is</c><00:08:51.680><c> something</c><00:08:52.080><c> that</c>

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for order flow which is something that
 

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for order flow which is something that
um<00:08:53.200><c> exists</c><00:08:53.640><c> in</c><00:08:53.959><c> in</c><00:08:54.120><c> in</c><00:08:54.279><c> traditional</c><00:08:54.880><c> markets</c>

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um exists in in in traditional markets
 

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um exists in in in traditional markets
um<00:08:56.880><c> and</c><00:08:57.680><c> um</c><00:08:58.120><c> I</c><00:08:58.279><c> guess</c><00:08:58.519><c> the</c><00:08:58.720><c> the</c><00:08:58.839><c> other</c><00:08:59.079><c> the</c>

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um and um I guess the the other the
 

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um and um I guess the the other the
other<00:08:59.519><c> one</c><00:08:59.800><c> which</c><00:09:00.240><c> hopefully</c><00:09:00.519><c> is</c><00:09:00.640><c> more</c>

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other one which hopefully is more
 

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other one which hopefully is more
positive<00:09:01.200><c> is</c><00:09:01.519><c> building</c><00:09:01.920><c> kind</c><00:09:02.040><c> of</c><00:09:02.160><c> more</c><00:09:02.320><c> and</c>

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positive is building kind of more and
 

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positive is building kind of more and
more<00:09:02.800><c> efficient</c><00:09:03.800><c> uh</c><00:09:03.959><c> protocols</c><00:09:04.680><c> so</c><00:09:04.839><c> that</c><00:09:05.000><c> they</c>

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more efficient uh protocols so that they
 

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more efficient uh protocols so that they
can<00:09:05.320><c> have</c><00:09:05.600><c> better</c><00:09:05.839><c> outcome</c><00:09:06.200><c> for</c><00:09:06.360><c> users</c><00:09:07.200><c> maybe</c>

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can have better outcome for users maybe
 

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can have better outcome for users maybe
with<00:09:08.120><c> um</c><00:09:08.279><c> maybe</c><00:09:08.519><c> with</c><00:09:08.640><c> less</c><00:09:08.800><c> liquidity</c><00:09:09.160><c> or</c>

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with um maybe with less liquidity or
 

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with um maybe with less liquidity or
generating<00:09:09.680><c> more</c><00:09:09.839><c> rewards</c><00:09:10.279><c> for</c><00:09:10.680><c> for</c><00:09:10.880><c> the</c><00:09:11.040><c> for</c>

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generating more rewards for for the for
 

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generating more rewards for for the for
the

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the
 

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the
LPS<00:09:13.160><c> perfect</c><00:09:13.720><c> and</c><00:09:14.000><c> that's</c><00:09:14.240><c> all</c><00:09:14.399><c> the</c><00:09:14.519><c> time</c><00:09:14.720><c> we</c>

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LPS perfect and that's all the time we
 

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LPS perfect and that's all the time we
have<00:09:14.959><c> for</c><00:09:15.120><c> questions</c><00:09:16.079><c> uh</c><00:09:16.240><c> give</c><00:09:16.399><c> it</c><00:09:16.519><c> up</c><00:09:16.800><c> again</c>

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have for questions uh give it up again
 

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have for questions uh give it up again
for<00:09:17.399><c> Daniel</c><00:09:18.040><c> yanev</c><00:09:19.040><c> thank</c><00:09:19.200><c> you</c>