WEBVTT Kind: captions Language: en 00:00:01.160 --> 00:00:06.690 align:start position:0% [Music] 00:00:06.690 --> 00:00:06.700 align:start position:0% 00:00:06.700 --> 00:00:09.509 align:start position:0% [Music] 00:00:09.509 --> 00:00:09.519 align:start position:0% [Music] 00:00:09.519 --> 00:00:10.430 align:start position:0% [Music] hi 00:00:10.430 --> 00:00:10.440 align:start position:0% hi 00:00:10.440 --> 00:00:12.749 align:start position:0% hi everyone<00:00:11.440> uh<00:00:11.840> there's<00:00:12.000> a<00:00:12.120> little<00:00:12.280> box<00:00:12.559> here 00:00:12.749 --> 00:00:12.759 align:start position:0% everyone uh there's a little box here 00:00:12.759 --> 00:00:15.070 align:start position:0% everyone uh there's a little box here just<00:00:12.880> in<00:00:13.040> case<00:00:13.400> I<00:00:13.639> I<00:00:13.759> need<00:00:13.920> to<00:00:14.320> see<00:00:14.599> down<00:00:14.759> on<00:00:14.920> top 00:00:15.070 --> 00:00:15.080 align:start position:0% just in case I I need to see down on top 00:00:15.080 --> 00:00:16.590 align:start position:0% just in case I I need to see down on top of<00:00:15.160> the<00:00:15.240> front 00:00:16.590 --> 00:00:16.600 align:start position:0% of the front 00:00:16.600 --> 00:00:19.830 align:start position:0% of the front row<00:00:17.600> Okay<00:00:17.840> cool<00:00:18.160> so<00:00:19.039> uh<00:00:19.160> yeah<00:00:19.279> my<00:00:19.359> name<00:00:19.480> is 00:00:19.830 --> 00:00:19.840 align:start position:0% row Okay cool so uh yeah my name is 00:00:19.840 --> 00:00:23.150 align:start position:0% row Okay cool so uh yeah my name is Connor<00:00:20.840> that's<00:00:21.000> not<00:00:21.199> my 00:00:23.150 --> 00:00:23.160 align:start position:0% Connor that's not my 00:00:23.160 --> 00:00:26.990 align:start position:0% Connor that's not my slide<00:00:24.160> perfect<00:00:25.039> okay<00:00:25.800> so<00:00:26.039> yeah<00:00:26.480> uh<00:00:26.599> I'm<00:00:26.720> Connor 00:00:26.990 --> 00:00:27.000 align:start position:0% slide perfect okay so yeah uh I'm Connor 00:00:27.000 --> 00:00:29.150 align:start position:0% slide perfect okay so yeah uh I'm Connor I'm<00:00:27.080> from<00:00:27.400> nethermind<00:00:28.400> and<00:00:28.800> today<00:00:29.000> I'm<00:00:29.080> going 00:00:29.150 --> 00:00:29.160 align:start position:0% I'm from nethermind and today I'm going 00:00:29.160 --> 00:00:30.990 align:start position:0% I'm from nethermind and today I'm going to<00:00:29.279> talk<00:00:29.439> about<00:00:29.840> uh<00:00:30.080> Revenue<00:00:30.400> model<00:00:30.640> for<00:00:30.759> Bas 00:00:30.990 --> 00:00:31.000 align:start position:0% to talk about uh Revenue model for Bas 00:00:31.000 --> 00:00:36.069 align:start position:0% to talk about uh Revenue model for Bas rollups<00:00:31.880> uh<00:00:32.559> now<00:00:33.440> I<00:00:33.520> wrote<00:00:34.040> this<00:00:34.920> title<00:00:35.879> before 00:00:36.069 --> 00:00:36.079 align:start position:0% rollups uh now I wrote this title before 00:00:36.079 --> 00:00:37.310 align:start position:0% rollups uh now I wrote this title before I<00:00:36.200> really<00:00:36.360> sort<00:00:36.520> of<00:00:36.600> had<00:00:36.719> an<00:00:36.800> idea<00:00:37.079> what<00:00:37.160> I<00:00:37.239> was 00:00:37.310 --> 00:00:37.320 align:start position:0% I really sort of had an idea what I was 00:00:37.320 --> 00:00:38.750 align:start position:0% I really sort of had an idea what I was going<00:00:37.399> to<00:00:37.520> talk<00:00:37.680> about<00:00:38.079> and<00:00:38.160> then<00:00:38.280> I<00:00:38.360> realized 00:00:38.750 --> 00:00:38.760 align:start position:0% going to talk about and then I realized 00:00:38.760 --> 00:00:41.310 align:start position:0% going to talk about and then I realized that<00:00:38.960> Revenue<00:00:39.960> probably<00:00:40.280> just<00:00:40.440> refers<00:00:40.800> to 00:00:41.310 --> 00:00:41.320 align:start position:0% that Revenue probably just refers to 00:00:41.320 --> 00:00:44.229 align:start position:0% that Revenue probably just refers to income<00:00:42.320> but<00:00:42.760> Bas<00:00:43.039> rollups<00:00:43.520> are<00:00:43.879> not<00:00:44.079> just 00:00:44.229 --> 00:00:44.239 align:start position:0% income but Bas rollups are not just 00:00:44.239 --> 00:00:45.549 align:start position:0% income but Bas rollups are not just about<00:00:44.719> when<00:00:44.840> you're<00:00:44.920> thinking<00:00:45.120> about<00:00:45.239> rollups 00:00:45.549 --> 00:00:45.559 align:start position:0% about when you're thinking about rollups 00:00:45.559 --> 00:00:46.869 align:start position:0% about when you're thinking about rollups in<00:00:45.640> general<00:00:46.039> it's<00:00:46.160> not<00:00:46.280> just<00:00:46.440> about<00:00:46.640> income 00:00:46.869 --> 00:00:46.879 align:start position:0% in general it's not just about income 00:00:46.879 --> 00:00:49.510 align:start position:0% in general it's not just about income it's<00:00:46.960> about<00:00:47.120> income<00:00:47.320> and<00:00:47.559> expenditure<00:00:48.559> and 00:00:49.510 --> 00:00:49.520 align:start position:0% it's about income and expenditure and 00:00:49.520 --> 00:00:51.990 align:start position:0% it's about income and expenditure and comparing<00:00:49.960> those<00:00:50.120> two<00:00:50.399> is<00:00:50.640> is<00:00:50.760> how<00:00:50.879> you<00:00:51.000> decide 00:00:51.990 --> 00:00:52.000 align:start position:0% comparing those two is is how you decide 00:00:52.000 --> 00:00:53.950 align:start position:0% comparing those two is is how you decide if<00:00:52.120> you<00:00:52.239> want<00:00:52.359> to<00:00:53.239> be<00:00:53.359> a<00:00:53.440> part<00:00:53.559> of<00:00:53.640> the<00:00:53.760> Bas 00:00:53.950 --> 00:00:53.960 align:start position:0% if you want to be a part of the Bas 00:00:53.960 --> 00:00:55.869 align:start position:0% if you want to be a part of the Bas rollup<00:00:54.280> and<00:00:54.480> I<00:00:54.640> guess<00:00:55.280> not<00:00:55.440> only<00:00:55.600> are<00:00:55.680> we<00:00:55.800> going 00:00:55.869 --> 00:00:55.879 align:start position:0% rollup and I guess not only are we going 00:00:55.879 --> 00:00:58.349 align:start position:0% rollup and I guess not only are we going to<00:00:56.000> talk<00:00:56.160> about<00:00:57.120> like<00:00:57.359> the<00:00:57.520> base<00:00:57.760> rollup<00:00:58.160> as<00:00:58.280> a 00:00:58.349 --> 00:00:58.359 align:start position:0% to talk about like the base rollup as a 00:00:58.359 --> 00:01:00.110 align:start position:0% to talk about like the base rollup as a sort<00:00:58.519> of<00:00:58.600> an<00:00:58.719> entity<00:00:59.079> but<00:00:59.239> also<00:00:59.559> the<00:00:59.640> entity 00:01:00.110 --> 00:01:00.120 align:start position:0% sort of an entity but also the entity 00:01:00.120 --> 00:01:01.950 align:start position:0% sort of an entity but also the entity these<00:01:00.559> like<00:01:00.719> the<00:01:00.840> real<00:01:01.079> life<00:01:01.320> people<00:01:01.559> that<00:01:01.680> are 00:01:01.950 --> 00:01:01.960 align:start position:0% these like the real life people that are 00:01:01.960 --> 00:01:04.229 align:start position:0% these like the real life people that are that<00:01:02.039> are<00:01:02.120> participating<00:01:02.559> in<00:01:02.640> Basse<00:01:03.239> rollups 00:01:04.229 --> 00:01:04.239 align:start position:0% that are participating in Basse rollups 00:01:04.239 --> 00:01:07.310 align:start position:0% that are participating in Basse rollups um<00:01:05.239> so<00:01:05.760> a<00:01:05.960> quick<00:01:06.159> primer<00:01:06.520> on<00:01:06.640> Bas<00:01:06.840> rollups<00:01:07.200> for 00:01:07.310 --> 00:01:07.320 align:start position:0% um so a quick primer on Bas rollups for 00:01:07.320 --> 00:01:10.030 align:start position:0% um so a quick primer on Bas rollups for anybody<00:01:07.680> who<00:01:07.960> isn't<00:01:08.159> aware<00:01:08.560> but<00:01:08.920> they're<00:01:09.119> lost 00:01:10.030 --> 00:01:10.040 align:start position:0% anybody who isn't aware but they're lost 00:01:10.040 --> 00:01:13.070 align:start position:0% anybody who isn't aware but they're lost uh<00:01:10.400> is<00:01:11.040> a<00:01:11.119> rollup<00:01:11.439> is<00:01:11.520> said<00:01:11.680> to<00:01:11.759> be<00:01:11.920> based<00:01:12.360> or<00:01:12.960> uh 00:01:13.070 --> 00:01:13.080 align:start position:0% uh is a rollup is said to be based or uh 00:01:13.080 --> 00:01:14.630 align:start position:0% uh is a rollup is said to be based or uh L1<00:01:13.439> sequenced<00:01:13.880> when<00:01:14.000> its<00:01:14.119> sequencing<00:01:14.520> is 00:01:14.630 --> 00:01:14.640 align:start position:0% L1 sequenced when its sequencing is 00:01:14.640 --> 00:01:17.870 align:start position:0% L1 sequenced when its sequencing is driven<00:01:14.880> by<00:01:15.000> the<00:01:15.080> base<00:01:15.400> L1<00:01:16.400> um<00:01:17.159> so<00:01:17.360> basically 00:01:17.870 --> 00:01:17.880 align:start position:0% driven by the base L1 um so basically 00:01:17.880 --> 00:01:19.590 align:start position:0% driven by the base L1 um so basically the<00:01:18.000> LB<00:01:18.240> One<00:01:18.439> proposers 00:01:19.590 --> 00:01:19.600 align:start position:0% the LB One proposers 00:01:19.600 --> 00:01:22.550 align:start position:0% the LB One proposers are<00:01:20.600> in<00:01:20.720> charge<00:01:21.040> of<00:01:21.280> of<00:01:21.439> of<00:01:21.560> producing<00:01:22.040> the<00:01:22.400> of 00:01:22.550 --> 00:01:22.560 align:start position:0% are in charge of of of producing the of 00:01:22.560 --> 00:01:24.310 align:start position:0% are in charge of of of producing the of proposing<00:01:22.920> the<00:01:23.040> blocks<00:01:23.400> for<00:01:23.680> for<00:01:23.799> this<00:01:23.960> rollup 00:01:24.310 --> 00:01:24.320 align:start position:0% proposing the blocks for for this rollup 00:01:24.320 --> 00:01:26.069 align:start position:0% proposing the blocks for for this rollup and<00:01:24.400> the<00:01:24.479> rollup<00:01:24.799> derives<00:01:25.119> its<00:01:25.400> state<00:01:25.799> from 00:01:26.069 --> 00:01:26.079 align:start position:0% and the rollup derives its state from 00:01:26.079 --> 00:01:27.670 align:start position:0% and the rollup derives its state from the<00:01:26.360> from<00:01:26.560> the<00:01:27.079> the<00:01:27.200> sequence<00:01:27.520> of 00:01:27.670 --> 00:01:27.680 align:start position:0% the from the the sequence of 00:01:27.680 --> 00:01:29.670 align:start position:0% the from the the sequence of transactions<00:01:28.119> that<00:01:28.240> appear<00:01:28.439> on<00:01:28.560> the<00:01:28.600> L1<00:01:29.079> now<00:01:29.560> a 00:01:29.670 --> 00:01:29.680 align:start position:0% transactions that appear on the L1 now a 00:01:29.680 --> 00:01:31.429 align:start position:0% transactions that appear on the L1 now a lot<00:01:29.799> of<00:01:30.079> rollups<00:01:30.479> might<00:01:30.680> actually<00:01:31.119> you<00:01:31.240> could 00:01:31.429 --> 00:01:31.439 align:start position:0% lot of rollups might actually you could 00:01:31.439 --> 00:01:32.749 align:start position:0% lot of rollups might actually you could you<00:01:31.520> could<00:01:31.640> squint<00:01:32.000> and<00:01:32.079> say<00:01:32.240> that<00:01:32.320> most<00:01:32.479> rups 00:01:32.749 --> 00:01:32.759 align:start position:0% you could squint and say that most rups 00:01:32.759 --> 00:01:34.990 align:start position:0% you could squint and say that most rups are<00:01:32.840> like<00:01:33.000> that<00:01:33.200> already<00:01:34.079> uh<00:01:34.320> but<00:01:34.640> I<00:01:34.720> guess<00:01:34.880> the 00:01:34.990 --> 00:01:35.000 align:start position:0% are like that already uh but I guess the 00:01:35.000 --> 00:01:36.310 align:start position:0% are like that already uh but I guess the key<00:01:35.159> thing<00:01:35.320> is<00:01:35.439> that<00:01:35.560> the<00:01:35.640> Elum<00:01:35.960> proposers 00:01:36.310 --> 00:01:36.320 align:start position:0% key thing is that the Elum proposers 00:01:36.320 --> 00:01:38.310 align:start position:0% key thing is that the Elum proposers aren't<00:01:36.759> supposed<00:01:37.040> to<00:01:37.119> be<00:01:37.600> sequencing<00:01:38.079> the 00:01:38.310 --> 00:01:38.320 align:start position:0% aren't supposed to be sequencing the 00:01:38.320 --> 00:01:39.870 align:start position:0% aren't supposed to be sequencing the chain 00:01:39.870 --> 00:01:39.880 align:start position:0% chain 00:01:39.880 --> 00:01:44.190 align:start position:0% chain uh<00:01:40.880> so<00:01:41.119> the<00:01:41.240> goal<00:01:41.399> of<00:01:41.560> today's<00:01:41.920> talk<00:01:42.799> uh<00:01:43.600> is 00:01:44.190 --> 00:01:44.200 align:start position:0% uh so the goal of today's talk uh is 00:01:44.200 --> 00:01:45.870 align:start position:0% uh so the goal of today's talk uh is introduce<00:01:44.600> the<00:01:44.680> players<00:01:44.920> in<00:01:45.040> base<00:01:45.200> rups<00:01:45.640> so 00:01:45.870 --> 00:01:45.880 align:start position:0% introduce the players in base rups so 00:01:45.880 --> 00:01:46.709 align:start position:0% introduce the players in base rups so we're<00:01:46.000> going<00:01:46.119> to<00:01:46.200> look<00:01:46.320> at<00:01:46.399> each<00:01:46.520> of<00:01:46.640> the 00:01:46.709 --> 00:01:46.719 align:start position:0% we're going to look at each of the 00:01:46.719 --> 00:01:48.789 align:start position:0% we're going to look at each of the players<00:01:47.360> and<00:01:47.640> like<00:01:47.880> think<00:01:48.079> about<00:01:48.360> the<00:01:48.520> income 00:01:48.789 --> 00:01:48.799 align:start position:0% players and like think about the income 00:01:48.799 --> 00:01:50.389 align:start position:0% players and like think about the income and<00:01:48.960> expenditure<00:01:49.399> that<00:01:49.560> they<00:01:49.759> have<00:01:50.159> and 00:01:50.389 --> 00:01:50.399 align:start position:0% and expenditure that they have and 00:01:50.399 --> 00:01:51.630 align:start position:0% and expenditure that they have and should<00:01:50.600> they<00:01:50.719> be<00:01:50.840> playing<00:01:51.280> should<00:01:51.399> they<00:01:51.520> be 00:01:51.630 --> 00:01:51.640 align:start position:0% should they be playing should they be 00:01:51.640 --> 00:01:53.630 align:start position:0% should they be playing should they be playing<00:01:51.840> this<00:01:52.000> game<00:01:52.840> uh<00:01:53.000> identif<00:01:53.520> yeah 00:01:53.630 --> 00:01:53.640 align:start position:0% playing this game uh identif yeah 00:01:53.640 --> 00:01:55.270 align:start position:0% playing this game uh identif yeah identify<00:01:54.040> their<00:01:54.119> income<00:01:54.320> and<00:01:54.439> expenditures 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are going to change on the road map that's<00:02:02.240> like<00:02:02.479> upcoming<00:02:03.360> the<00:02:03.520> big<00:02:03.680> changes 00:02:03.950 --> 00:02:03.960 align:start position:0% that's like upcoming the big changes 00:02:03.960 --> 00:02:06.109 align:start position:0% that's like upcoming the big changes that<00:02:04.039> we're<00:02:04.200> expected<00:02:04.520> to<00:02:04.640> see<00:02:05.399> and<00:02:05.560> then 00:02:06.109 --> 00:02:06.119 align:start position:0% that we're expected to see and then 00:02:06.119 --> 00:02:08.309 align:start position:0% that we're expected to see and then motivate<00:02:06.600> you<00:02:06.799> all<00:02:07.119> to<00:02:07.640> I<00:02:07.759> guess<00:02:07.960> participate 00:02:08.309 --> 00:02:08.319 align:start position:0% motivate you all to I guess participate 00:02:08.319 --> 00:02:10.070 align:start position:0% motivate you all to I guess participate in<00:02:08.440> Bas<00:02:08.599> rups<00:02:08.920> and<00:02:09.000> be<00:02:09.119> thinking<00:02:09.399> about<00:02:09.720> these 00:02:10.070 --> 00:02:10.080 align:start position:0% in Bas rups and be thinking about these 00:02:10.080 --> 00:02:11.350 align:start position:0% in Bas rups and be thinking about these income<00:02:10.360> and<00:02:10.479> expenditure<00:02:10.920> problems<00:02:11.160> that 00:02:11.350 --> 00:02:11.360 align:start position:0% income and expenditure problems that 00:02:11.360 --> 00:02:13.390 align:start position:0% income and expenditure problems that exist<00:02:12.239> uh<00:02:12.360> and<00:02:12.480> then<00:02:12.680> yeah<00:02:12.800> I<00:02:12.920> mentioned<00:02:13.160> fat 00:02:13.390 --> 00:02:13.400 align:start position:0% exist uh and then yeah I mentioned fat 00:02:13.400 --> 00:02:14.710 align:start position:0% exist uh and then yeah I mentioned fat stacks<00:02:13.640> for<00:02:13.800> all<00:02:14.040> but<00:02:14.200> really<00:02:14.440> what<00:02:14.599> that 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align:start position:0% games um okay so who's who do we have here<00:02:23.200> uh<00:02:23.319> so<00:02:23.599> we<00:02:23.760> have<00:02:24.120> the<00:02:24.239> users<00:02:24.879> they're 00:02:25.150 --> 00:02:25.160 align:start position:0% here uh so we have the users they're 00:02:25.160 --> 00:02:26.550 align:start position:0% here uh so we have the users they're like<00:02:25.280> the<00:02:25.360> most<00:02:25.560> important<00:02:26.000> right<00:02:26.239> we<00:02:26.400> we're 00:02:26.550 --> 00:02:26.560 align:start position:0% like the most important right we we're 00:02:26.560 --> 00:02:28.990 align:start position:0% like the most important right we we're always<00:02:26.760> trying<00:02:27.000> to<00:02:27.160> sort<00:02:27.319> of<00:02:27.640> make<00:02:28.440> although<00:02:28.920> I 00:02:28.990 --> 00:02:29.000 align:start position:0% always trying to sort of make although I 00:02:29.000 --> 00:02:30.630 align:start position:0% always trying to sort of make although I was<00:02:29.120> on<00:02:29.239> a<00:02:29.440> panel<00:02:29.640> yester<00:02:30.000> today<00:02:30.319> where<00:02:30.440> we're 00:02:30.630 --> 00:02:30.640 align:start position:0% was on a panel yester today where we're 00:02:30.640 --> 00:02:33.309 align:start position:0% was on a panel yester today where we're talking<00:02:31.000> about<00:02:31.800> uh<00:02:32.640> where<00:02:32.760> we're<00:02:33.000> talking 00:02:33.309 --> 00:02:33.319 align:start position:0% talking about uh where we're talking 00:02:33.319 --> 00:02:35.270 align:start position:0% talking about uh where we're talking about<00:02:33.760> who<00:02:33.879> should<00:02:34.120> be<00:02:34.560> gaining<00:02:34.879> the<00:02:35.000> revenue 00:02:35.270 --> 00:02:35.280 align:start position:0% about who should be gaining the revenue 00:02:35.280 --> 00:02:36.910 align:start position:0% about who should be gaining the revenue in<00:02:35.360> a<00:02:35.519> system<00:02:35.879> and<00:02:36.040> users<00:02:36.360> were<00:02:36.560> the<00:02:36.720> with<00:02:36.840> the 00:02:36.910 --> 00:02:36.920 align:start position:0% in a system and users were the with the 00:02:36.920 --> 00:02:38.589 align:start position:0% in a system and users were the with the bottom<00:02:37.120> of<00:02:37.200> the<00:02:37.319> list<00:02:37.680> but<00:02:38.000> users<00:02:38.360> should<00:02:38.480> be 00:02:38.589 --> 00:02:38.599 align:start position:0% bottom of the list but users should be 00:02:38.599 --> 00:02:40.149 align:start position:0% bottom of the list but users should be the<00:02:38.720> ones<00:02:38.920> that<00:02:39.040> are<00:02:39.360> gaining<00:02:39.680> something<00:02:40.000> from 00:02:40.149 --> 00:02:40.159 align:start position:0% the ones that are gaining something from 00:02:40.159 --> 00:02:41.350 align:start position:0% the ones that are gaining something from playing<00:02:40.400> the<00:02:40.519> game<00:02:40.720> so<00:02:40.879> they're<00:02:41.120> going<00:02:41.200> to<00:02:41.280> be 00:02:41.350 --> 00:02:41.360 align:start position:0% playing the game so they're going to be 00:02:41.360 --> 00:02:42.750 align:start position:0% playing the game so they're going to be the<00:02:41.440> ones<00:02:41.640> that<00:02:41.760> are<00:02:41.879> going<00:02:41.959> to<00:02:42.080> be<00:02:42.440> like 00:02:42.750 --> 00:02:42.760 align:start position:0% the ones that are going to be like 00:02:42.760 --> 00:02:45.190 align:start position:0% the ones that are going to be like driving<00:02:43.200> the<00:02:43.360> revenue<00:02:43.680> for<00:02:43.800> a<00:02:43.920> base<00:02:44.319> up<00:02:45.040> uh 00:02:45.190 --> 00:02:45.200 align:start position:0% driving the revenue for a base up uh 00:02:45.200 --> 00:02:46.509 align:start position:0% driving the revenue for a base up uh proposers<00:02:45.640> and<00:02:45.760> sequencers<00:02:46.239> and<00:02:46.360> putting 00:02:46.509 --> 00:02:46.519 align:start position:0% proposers and sequencers and putting 00:02:46.519 --> 00:02:50.030 align:start position:0% proposers and sequencers and putting them<00:02:46.640> in<00:02:46.720> the<00:02:46.840> same<00:02:47.040> bracket<00:02:48.000> uh<00:02:48.760> ZK<00:02:49.200> provs<00:02:49.920> uh 00:02:50.030 --> 00:02:50.040 align:start position:0% them in the same bracket uh ZK provs uh 00:02:50.040 --> 00:02:51.270 align:start position:0% them in the same bracket uh ZK provs uh so<00:02:50.120> we<00:02:50.200> have<00:02:50.319> this<00:02:50.440> proposer<00:02:50.800> over<00:02:50.959> here<00:02:51.120> and 00:02:51.270 --> 00:02:51.280 align:start position:0% so we have this proposer over here and 00:02:51.280 --> 00:02:53.869 align:start position:0% so we have this proposer over here and this<00:02:51.440> based<00:02:52.080> uh<00:02:52.280> this<00:02:52.440> based<00:02:53.040> uh<00:02:53.400> blockchain 00:02:53.869 --> 00:02:53.879 align:start position:0% this based uh this based uh blockchain 00:02:53.879 --> 00:02:55.869 align:start position:0% this based uh this based uh blockchain that's<00:02:54.040> accepting<00:02:54.400> the<00:02:54.480> blocks<00:02:55.480> uh<00:02:55.640> we<00:02:55.720> have 00:02:55.869 --> 00:02:55.879 align:start position:0% that's accepting the blocks uh we have 00:02:55.879 --> 00:02:58.430 align:start position:0% that's accepting the blocks uh we have ZK<00:02:56.200> approvers<00:02:57.159> uh<00:02:57.360> because<00:02:57.560> I<00:02:57.720> guess<00:02:58.080> a<00:02:58.200> stage 00:02:58.430 --> 00:02:58.440 align:start position:0% ZK approvers uh because I guess a stage 00:02:58.440 --> 00:03:00.990 align:start position:0% ZK approvers uh because I guess a stage two<00:02:58.599> rollup<00:02:58.920> should<00:02:59.080> have<00:02:59.239> ZK<00:02:59.560> proofs 00:03:00.990 --> 00:03:01.000 align:start position:0% two rollup should have ZK proofs 00:03:01.000 --> 00:03:04.309 align:start position:0% two rollup should have ZK proofs uh<00:03:02.000> the<00:03:02.159> Dow<00:03:02.480> so<00:03:02.640> I<00:03:02.760> guess<00:03:03.080> when<00:03:03.840> maybe<00:03:04.080> some<00:03:04.200> of 00:03:04.309 --> 00:03:04.319 align:start position:0% uh the Dow so I guess when maybe some of 00:03:04.319 --> 00:03:05.350 align:start position:0% uh the Dow so I guess when maybe some of you<00:03:04.400> are<00:03:04.560> here<00:03:04.680> and<00:03:04.799> you're<00:03:04.920> thinking<00:03:05.159> about 00:03:05.350 --> 00:03:05.360 align:start position:0% you are here and you're thinking about 00:03:05.360 --> 00:03:06.789 align:start position:0% you are here and you're thinking about the<00:03:05.480> revenue<00:03:05.760> model<00:03:05.959> for<00:03:06.120> base<00:03:06.319> rup<00:03:06.720> and 00:03:06.789 --> 00:03:06.799 align:start position:0% the revenue model for base rup and 00:03:06.799 --> 00:03:08.430 align:start position:0% the revenue model for base rup and you're<00:03:06.959> thinking<00:03:07.519> that<00:03:07.640> it's<00:03:07.879> the<00:03:08.040> Dow<00:03:08.360> that 00:03:08.430 --> 00:03:08.440 align:start position:0% you're thinking that it's the Dow that 00:03:08.440 --> 00:03:10.990 align:start position:0% you're thinking that it's the Dow that we're<00:03:08.599> trying<00:03:08.840> to<00:03:09.440> like<00:03:09.760> create<00:03:10.120> revenue<00:03:10.480> for 00:03:10.990 --> 00:03:11.000 align:start position:0% we're trying to like create revenue for 00:03:11.000 --> 00:03:12.070 align:start position:0% we're trying to like create revenue for but<00:03:11.200> I<00:03:11.280> think<00:03:11.440> there's<00:03:11.599> just<00:03:11.760> too<00:03:11.920> many 00:03:12.070 --> 00:03:12.080 align:start position:0% but I think there's just too many 00:03:12.080 --> 00:03:15.990 align:start position:0% but I think there's just too many players<00:03:12.319> in<00:03:12.440> the<00:03:12.879> ecosystem<00:03:13.879> uh<00:03:14.200> to<00:03:15.200> like 00:03:15.990 --> 00:03:16.000 align:start position:0% players in the ecosystem uh to like 00:03:16.000 --> 00:03:17.710 align:start position:0% players in the ecosystem uh to like fully<00:03:16.360> focus<00:03:16.680> on<00:03:16.840> just<00:03:16.959> the<00:03:17.120> Dow<00:03:17.400> or<00:03:17.560> like 00:03:17.710 --> 00:03:17.720 align:start position:0% fully focus on just the Dow or like 00:03:17.720 --> 00:03:19.309 align:start position:0% fully focus on just the Dow or like whatever<00:03:18.080> this<00:03:18.319> the<00:03:18.440> treasury<00:03:18.920> that<00:03:19.040> exists 00:03:19.309 --> 00:03:19.319 align:start position:0% whatever this the treasury that exists 00:03:19.319 --> 00:03:21.030 align:start position:0% whatever this the treasury that exists on<00:03:19.400> a<00:03:19.519> d<00:03:19.720> on<00:03:19.879> on<00:03:19.920> a<00:03:20.040> Bas<00:03:20.400> up<00:03:20.720> we're<00:03:20.799> going<00:03:20.879> to<00:03:20.920> be 00:03:21.030 --> 00:03:21.040 align:start position:0% on a d on on a Bas up we're going to be 00:03:21.040 --> 00:03:22.430 align:start position:0% on a d on on a Bas up we're going to be thinking<00:03:21.239> about<00:03:21.440> them<00:03:21.799> along<00:03:22.000> with<00:03:22.120> everybody 00:03:22.430 --> 00:03:22.440 align:start position:0% thinking about them along with everybody 00:03:22.440 --> 00:03:24.270 align:start position:0% thinking about them along with everybody else<00:03:23.280> and<00:03:23.400> then<00:03:23.640> also<00:03:23.920> we're<00:03:24.040> going<00:03:24.120> to<00:03:24.200> have 00:03:24.270 --> 00:03:24.280 align:start position:0% else and then also we're going to have 00:03:24.280 --> 00:03:25.830 align:start position:0% else and then also we're going to have to<00:03:24.400> think<00:03:24.599> about<00:03:24.920> these<00:03:25.120> other<00:03:25.360> chains<00:03:25.720> and 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this 00:03:31.959 --> 00:03:35.229 align:start position:0% expenditure for a rollup so I have this the<00:03:32.080> shark<00:03:32.360> from<00:03:32.480> Finding<00:03:33.239> Nemo<00:03:34.239> uh<00:03:34.720> so 00:03:35.229 --> 00:03:35.239 align:start position:0% the shark from Finding Nemo uh so 00:03:35.239 --> 00:03:36.910 align:start position:0% the shark from Finding Nemo uh so depending<00:03:35.560> on<00:03:36.040> how<00:03:36.159> you<00:03:36.280> look<00:03:36.400> at<00:03:36.519> it<00:03:36.720> it<00:03:36.799> could 00:03:36.910 --> 00:03:36.920 align:start position:0% depending on how you look at it it could 00:03:36.920 --> 00:03:39.270 align:start position:0% depending on how you look at it it could be<00:03:37.040> a<00:03:37.120> friend<00:03:37.319> or<00:03:37.439> it<00:03:37.480> could<00:03:37.599> be<00:03:37.680> a<00:03:37.840> fo<00:03:38.319> and 00:03:39.270 --> 00:03:39.280 align:start position:0% be a friend or it could be a fo and 00:03:39.280 --> 00:03:40.550 align:start position:0% be a friend or it could be a fo and there<00:03:39.360> will<00:03:39.480> be<00:03:39.640> cases<00:03:39.920> where<00:03:40.159> they<00:03:40.280> are<00:03:40.480> they 00:03:40.550 --> 00:03:40.560 align:start position:0% there will be cases where they are they 00:03:40.560 --> 00:03:44.789 align:start position:0% there will be cases where they are they are<00:03:40.840> both<00:03:41.920> uh<00:03:42.920> okay<00:03:43.400> so<00:03:43.599> setting<00:03:43.879> the<00:03:44.080> table<00:03:44.680> uh 00:03:44.789 --> 00:03:44.799 align:start position:0% are both uh okay so setting the table uh 00:03:44.799 --> 00:03:47.589 align:start position:0% are both uh okay so setting the table uh so<00:03:45.360> I<00:03:45.480> guess<00:03:45.680> maybe<00:03:46.680> one<00:03:46.840> of<00:03:46.920> the<00:03:47.000> reasons<00:03:47.319> why 00:03:47.589 --> 00:03:47.599 align:start position:0% so I guess maybe one of the reasons why 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align:start position:0% talk we were in we were around June or July<00:03:54.920> and<00:03:55.079> we<00:03:55.200> were<00:03:55.360> in<00:03:55.439> a<00:03:55.840> situation<00:03:56.400> where 00:03:56.589 --> 00:03:56.599 align:start position:0% July and we were in a situation where 00:03:56.599 --> 00:04:00.470 align:start position:0% July and we were in a situation where Tao<00:03:57.280> was<00:03:58.280> losing<00:03:59.159> money<00:03:59.519> by<00:03:59.799> posting<00:04:00.200> blocks 00:04:00.470 --> 00:04:00.480 align:start position:0% Tao was losing money by posting blocks 00:04:00.480 --> 00:04:03.990 align:start position:0% Tao was losing money by posting blocks to<00:04:00.879> L1<00:04:01.879> uh<00:04:02.200> which<00:04:03.000> people<00:04:03.239> were<00:04:03.400> focusing<00:04:03.760> on 00:04:03.990 --> 00:04:04.000 align:start position:0% to L1 uh which people were focusing on 00:04:04.000 --> 00:04:05.309 align:start position:0% to L1 uh which people were focusing on and<00:04:04.120> people<00:04:04.280> were<00:04:04.439> getting<00:04:04.640> really<00:04:04.840> scared 00:04:05.309 --> 00:04:05.319 align:start position:0% and people were getting really scared 00:04:05.319 --> 00:04:07.789 align:start position:0% and people were getting really scared like<00:04:05.519> Bas<00:04:05.760> rups<00:04:06.159> might<00:04:06.319> not<00:04:06.439> have<00:04:06.560> a<00:04:06.680> future<00:04:07.599> uh 00:04:07.789 --> 00:04:07.799 align:start position:0% like Bas rups might not have a future uh 00:04:07.799 --> 00:04:09.789 align:start position:0% like Bas rups might not have a future uh what's<00:04:08.040> happening<00:04:08.439> here<00:04:09.200> uh<00:04:09.360> but<00:04:09.480> there<00:04:09.560> was<00:04:09.680> a 00:04:09.789 --> 00:04:09.799 align:start position:0% what's happening here uh but there was a 00:04:09.799 --> 00:04:11.990 align:start position:0% what's happening here uh but there was a good<00:04:09.959> reason<00:04:10.200> for<00:04:10.439> this<00:04:11.120> Tao<00:04:11.519> wanted<00:04:11.720> to<00:04:11.879> make 00:04:11.990 --> 00:04:12.000 align:start position:0% good reason for this Tao wanted to make 00:04:12.000 --> 00:04:14.390 align:start position:0% good reason for this Tao wanted to make sure<00:04:12.239> that<00:04:12.760> uh<00:04:13.079> users<00:04:13.439> were<00:04:13.799> getting<00:04:14.280> a 00:04:14.390 --> 00:04:14.400 align:start position:0% sure that uh users were getting a 00:04:14.400 --> 00:04:16.390 align:start position:0% sure that uh users were getting a reasonable<00:04:15.159> ux<00:04:15.599> that<00:04:15.680> they<00:04:15.799> were<00:04:15.959> getting 00:04:16.390 --> 00:04:16.400 align:start position:0% reasonable ux that they were getting 00:04:16.400 --> 00:04:18.629 align:start position:0% reasonable ux that they were getting updates<00:04:16.799> every<00:04:17.000> 12<00:04:17.320> seconds<00:04:17.759> because<00:04:18.400> base 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informations but 00:04:24.440 --> 00:04:27.909 align:start position:0% this concept of preon informations but they<00:04:24.520> aren't<00:04:24.800> live<00:04:25.080> yet<00:04:25.759> but<00:04:26.759> at<00:04:26.880> the<00:04:27.080> time<00:04:27.600> Tao 00:04:27.909 --> 00:04:27.919 align:start position:0% they aren't live yet but at the time Tao 00:04:27.919 --> 00:04:30.590 align:start position:0% they aren't live yet but at the time Tao was<00:04:28.040> force<00:04:28.320> forcing<00:04:28.919> L1<00:04:29.280> blocks<00:04:29.560> on<00:04:29.720> onto<00:04:30.160> the 00:04:30.590 --> 00:04:30.600 align:start position:0% was force forcing L1 blocks on onto the 00:04:30.600 --> 00:04:33.150 align:start position:0% was force forcing L1 blocks on onto the uh<00:04:31.000> oh<00:04:31.120> sorry<00:04:31.360> L2<00:04:31.639> blocks<00:04:31.840> onto<00:04:32.039> the<00:04:32.120> L1<00:04:33.039> uh 00:04:33.150 --> 00:04:33.160 align:start position:0% uh oh sorry L2 blocks onto the L1 uh 00:04:33.160 --> 00:04:35.629 align:start position:0% uh oh sorry L2 blocks onto the L1 uh while<00:04:33.320> they<00:04:33.440> were<00:04:33.600> only<00:04:34.320> half<00:04:34.600> full<00:04:34.919> less<00:04:35.520> so 00:04:35.629 --> 00:04:35.639 align:start position:0% while they were only half full less so 00:04:35.639 --> 00:04:36.909 align:start position:0% while they were only half full less so they<00:04:35.759> weren't<00:04:36.039> actually<00:04:36.280> generating<00:04:36.759> enough 00:04:36.909 --> 00:04:36.919 align:start position:0% they weren't actually generating enough 00:04:36.919 --> 00:04:41.070 align:start position:0% they weren't actually generating enough fees<00:04:37.400> to<00:04:37.880> to<00:04:38.479> sort<00:04:38.720> of<00:04:39.720> uh<00:04:40.240> compensate<00:04:40.759> for<00:04:40.919> the 00:04:41.070 --> 00:04:41.080 align:start position:0% fees to to sort of uh compensate for the 00:04:41.080 --> 00:04:44.270 align:start position:0% fees to to sort of uh compensate for the cost<00:04:41.280> of<00:04:41.440> posting<00:04:41.720> to<00:04:42.000> L1<00:04:43.000> uh<00:04:43.160> so<00:04:43.880> but<00:04:44.080> again 00:04:44.270 --> 00:04:44.280 align:start position:0% cost of posting to L1 uh so but again 00:04:44.280 --> 00:04:47.310 align:start position:0% cost of posting to L1 uh so but again this<00:04:44.400> was<00:04:44.600> this<00:04:44.720> was<00:04:44.840> sort<00:04:45.000> of<00:04:45.560> the<00:04:46.560> the<00:04:46.720> p&l 00:04:47.310 --> 00:04:47.320 align:start position:0% this was this was sort of the the p&l 00:04:47.320 --> 00:04:49.469 align:start position:0% this was this was sort of the the p&l that<00:04:47.639> grow<00:04:47.960> the<00:04:48.120> pi<00:04:48.880> grow<00:04:49.080> the<00:04:49.199> pie<00:04:49.360> was 00:04:49.469 --> 00:04:49.479 align:start position:0% that grow the pi grow the pie was 00:04:49.479 --> 00:04:51.110 align:start position:0% that grow the pi grow the pie was generating<00:04:50.000> right<00:04:50.240> and<00:04:50.400> the<00:04:50.560> the<00:04:50.639> p&l<00:04:51.000> that 00:04:51.110 --> 00:04:51.120 align:start position:0% generating right and the the p&l that 00:04:51.120 --> 00:04:53.830 align:start position:0% generating right and the the p&l that they<00:04:51.240> were<00:04:51.520> looking<00:04:51.800> at<00:04:52.039> was<00:04:52.800> L2<00:04:53.240> gas<00:04:53.440> fees 00:04:53.830 --> 00:04:53.840 align:start position:0% they were looking at was L2 gas fees 00:04:53.840 --> 00:04:56.670 align:start position:0% they were looking at was L2 gas fees collected<00:04:54.759> uh<00:04:54.960> minus<00:04:55.479> the<00:04:55.759> L1<00:04:56.120> fees<00:04:56.440> that<00:04:56.520> were 00:04:56.670 --> 00:04:56.680 align:start position:0% collected uh minus the L1 fees that were 00:04:56.680 --> 00:04:59.990 align:start position:0% collected uh minus the L1 fees that were paid<00:04:56.919> to<00:04:57.280> post<00:04:58.280> data<00:04:58.600> and<00:04:58.720> proofs<00:04:59.039> to<00:04:59.160> the<00:04:59.240> L1 00:04:59.990 --> 00:05:00.000 align:start position:0% paid to post data and proofs to the L1 00:05:00.000 --> 00:05:02.070 align:start position:0% paid to post data and proofs to the L1 uh<00:05:00.160> so<00:05:00.840> that's<00:05:01.000> a<00:05:01.160> relatively<00:05:01.600> simplified 00:05:02.070 --> 00:05:02.080 align:start position:0% uh so that's a relatively simplified 00:05:02.080 --> 00:05:04.670 align:start position:0% uh so that's a relatively simplified model<00:05:02.759> uh<00:05:03.000> of<00:05:03.360> the<00:05:03.840> the<00:05:03.960> revenue<00:05:04.400> the<00:05:04.440> income 00:05:04.670 --> 00:05:04.680 align:start position:0% model uh of the the revenue the income 00:05:04.680 --> 00:05:06.469 align:start position:0% model uh of the the revenue the income minus<00:05:04.960> expenditure<00:05:05.400> for<00:05:05.520> a<00:05:05.639> base<00:05:05.840> roll<00:05:06.039> up<00:05:06.360> uh 00:05:06.469 --> 00:05:06.479 align:start position:0% minus expenditure for a base roll up uh 00:05:06.479 --> 00:05:08.110 align:start position:0% minus expenditure for a base roll up uh there's<00:05:06.680> actually<00:05:06.880> a<00:05:07.000> lot<00:05:07.160> more<00:05:07.520> components 00:05:08.110 --> 00:05:08.120 align:start position:0% there's actually a lot more components 00:05:08.120 --> 00:05:09.230 align:start position:0% there's actually a lot more components that<00:05:08.240> we<00:05:08.320> need<00:05:08.440> to<00:05:08.600> consider<00:05:08.960> when<00:05:09.080> we're 00:05:09.230 --> 00:05:09.240 align:start position:0% that we need to consider when we're 00:05:09.240 --> 00:05:11.990 align:start position:0% that we need to consider when we're thinking<00:05:09.560> about<00:05:10.360> is<00:05:10.479> a<00:05:10.800> is<00:05:10.919> this<00:05:11.039> base<00:05:11.240> rollup 00:05:11.990 --> 00:05:12.000 align:start position:0% thinking about is a is this base rollup 00:05:12.000 --> 00:05:13.870 align:start position:0% thinking about is a is this base rollup uh<00:05:12.759> viable<00:05:13.120> to 00:05:13.870 --> 00:05:13.880 align:start position:0% uh viable to 00:05:13.880 --> 00:05:16.390 align:start position:0% uh viable to run<00:05:14.880> uh<00:05:15.039> so<00:05:15.400> if<00:05:15.479> you<00:05:15.600> want<00:05:15.720> to<00:05:15.840> get<00:05:15.919> AIT<00:05:16.280> bit 00:05:16.390 --> 00:05:16.400 align:start position:0% run uh so if you want to get AIT bit 00:05:16.400 --> 00:05:17.870 align:start position:0% run uh so if you want to get AIT bit deeper<00:05:16.840> nethermind<00:05:17.240> research<00:05:17.560> did<00:05:17.720> get<00:05:17.800> a 00:05:17.870 --> 00:05:17.880 align:start position:0% deeper nethermind research did get a 00:05:17.880 --> 00:05:19.350 align:start position:0% deeper nethermind research did get a little<00:05:18.000> bit<00:05:18.120> deeper<00:05:18.360> at<00:05:18.440> one<00:05:18.600> point<00:05:19.039> and<00:05:19.240> I 00:05:19.350 --> 00:05:19.360 align:start position:0% little bit deeper at one point and I 00:05:19.360 --> 00:05:22.270 align:start position:0% little bit deeper at one point and I guess<00:05:19.680> we're<00:05:19.960> we're<00:05:20.120> getting<00:05:20.319> deeper<00:05:21.039> uh<00:05:22.039> by 00:05:22.270 --> 00:05:22.280 align:start position:0% guess we're we're getting deeper uh by 00:05:22.280 --> 00:05:24.870 align:start position:0% guess we're we're getting deeper uh by the<00:05:22.400> day<00:05:23.199> um<00:05:23.720> we<00:05:23.880> had<00:05:24.039> this<00:05:24.160> sort<00:05:24.319> of<00:05:24.639> maybe<00:05:24.800> a 00:05:24.870 --> 00:05:24.880 align:start position:0% the day um we had this sort of maybe a 00:05:24.880 --> 00:05:26.230 align:start position:0% the day um we had this sort of maybe a little<00:05:25.039> more<00:05:25.199> complex<00:05:25.560> model<00:05:25.880> where<00:05:26.000> we<00:05:26.080> were 00:05:26.230 --> 00:05:26.240 align:start position:0% little more complex model where we were 00:05:26.240 --> 00:05:28.150 align:start position:0% little more complex model where we were looking<00:05:26.800> beyond<00:05:27.160> the<00:05:27.280> onchain<00:05:27.759> cost<00:05:28.000> and 00:05:28.150 --> 00:05:28.160 align:start position:0% looking beyond the onchain cost and 00:05:28.160 --> 00:05:30.189 align:start position:0% looking beyond the onchain cost and looking<00:05:28.360> at<00:05:28.600> the<00:05:29.160> sort<00:05:29.360> of<00:05:29.479> the<00:05:29.720> the<00:05:29.840> running 00:05:30.189 --> 00:05:30.199 align:start position:0% looking at the sort of the the running 00:05:30.199 --> 00:05:32.390 align:start position:0% looking at the sort of the the running costs<00:05:30.560> of<00:05:30.680> running<00:05:30.919> aover<00:05:31.479> for<00:05:31.639> example<00:05:32.319> uh 00:05:32.390 --> 00:05:32.400 align:start position:0% costs of running aover for example uh 00:05:32.400 --> 00:05:34.510 align:start position:0% costs of running aover for example uh like<00:05:32.520> running<00:05:32.759> aover<00:05:33.160> is<00:05:33.280> not<00:05:33.440> cheap<00:05:34.160> uh<00:05:34.400> not 00:05:34.510 --> 00:05:34.520 align:start position:0% like running aover is not cheap uh not 00:05:34.520 --> 00:05:35.629 align:start position:0% like running aover is not cheap uh not only<00:05:34.680> do<00:05:34.800> you<00:05:34.880> have<00:05:35.000> to<00:05:35.160> actually<00:05:35.360> pay<00:05:35.560> the 00:05:35.629 --> 00:05:35.639 align:start position:0% only do you have to actually pay the 00:05:35.639 --> 00:05:37.029 align:start position:0% only do you have to actually pay the electricity<00:05:36.120> cost<00:05:36.280> for<00:05:36.400> running<00:05:36.600> the<00:05:36.720> prover 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provs they're 00:05:42.039 --> 00:05:44.749 align:start position:0% aren't actually buying provs they're Outsourcing<00:05:42.600> to<00:05:42.960> like<00:05:43.080> AWS<00:05:43.759> or<00:05:44.280> or<00:05:44.479> any<00:05:44.639> of 00:05:44.749 --> 00:05:44.759 align:start position:0% Outsourcing to like AWS or or any of 00:05:44.759 --> 00:05:47.790 align:start position:0% Outsourcing to like AWS or or any of these<00:05:44.880> internet<00:05:45.160> Cloud<00:05:45.919> providers<00:05:46.919> um<00:05:47.560> so 00:05:47.790 --> 00:05:47.800 align:start position:0% these internet Cloud providers um so 00:05:47.800 --> 00:05:49.870 align:start position:0% these internet Cloud providers um so there's<00:05:48.520> there's<00:05:49.000> add<00:05:49.319> additional<00:05:49.600> cost<00:05:49.800> that 00:05:49.870 --> 00:05:49.880 align:start position:0% there's there's add additional cost that 00:05:49.880 --> 00:05:50.990 align:start position:0% there's there's add additional cost that need<00:05:50.000> to<00:05:50.080> be<00:05:50.160> considered<00:05:50.479> there<00:05:50.680> there's<00:05:50.840> also 00:05:50.990 --> 00:05:51.000 align:start position:0% need to be considered there there's also 00:05:51.000 --> 00:05:52.430 align:start position:0% need to be considered there there's also additional<00:05:51.360> incomes<00:05:51.800> so<00:05:52.039> I'm<00:05:52.160> I'm<00:05:52.240> going<00:05:52.319> to 00:05:52.430 --> 00:05:52.440 align:start position:0% additional incomes so I'm I'm going to 00:05:52.440 --> 00:05:56.710 align:start position:0% additional incomes so I'm I'm going to get<00:05:52.520> to<00:05:52.639> those<00:05:52.800> in<00:05:52.880> a<00:05:53.280> second<00:05:54.280> um<00:05:55.280> so<00:05:56.160> again 00:05:56.710 --> 00:05:56.720 align:start position:0% get to those in a second um so again 00:05:56.720 --> 00:05:58.230 align:start position:0% get to those in a second um so again like<00:05:56.840> I<00:05:56.960> guess<00:05:57.120> we're<00:05:57.479> we're<00:05:57.600> in<00:05:57.680> a<00:05:57.800> situation 00:05:58.230 --> 00:05:58.240 align:start position:0% like I guess we're we're in a situation 00:05:58.240 --> 00:06:00.469 align:start position:0% like I guess we're we're in a situation where<00:05:58.479> maybe<00:05:59.319> okay<00:05:59.759> someone<00:06:00.080> says<00:06:00.319> your 00:06:00.469 --> 00:06:00.479 align:start position:0% where maybe okay someone says your 00:06:00.479 --> 00:06:01.590 align:start position:0% where maybe okay someone says your income<00:06:00.840> your<00:06:00.960> your<00:06:01.039> income<00:06:01.319> minus 00:06:01.590 --> 00:06:01.600 align:start position:0% income your your income minus 00:06:01.600 --> 00:06:03.469 align:start position:0% income your your income minus expenditure<00:06:02.000> is<00:06:02.160> bad<00:06:02.560> so<00:06:02.840> or<00:06:03.120> someone<00:06:03.319> else 00:06:03.469 --> 00:06:03.479 align:start position:0% expenditure is bad so or someone else 00:06:03.479 --> 00:06:05.670 align:start position:0% expenditure is bad so or someone else says<00:06:03.720> it's<00:06:03.840> not<00:06:04.039> actually<00:06:04.280> that<00:06:04.479> bad<00:06:05.280> and 00:06:05.670 --> 00:06:05.680 align:start position:0% says it's not actually that bad and 00:06:05.680 --> 00:06:06.990 align:start position:0% says it's not actually that bad and really<00:06:06.160> everything<00:06:06.400> that's<00:06:06.680> everyone<00:06:06.880> is 00:06:06.990 --> 00:06:07.000 align:start position:0% really everything that's everyone is 00:06:07.000 --> 00:06:08.550 align:start position:0% really everything that's everyone is looking<00:06:07.199> at<00:06:07.280> this<00:06:07.400> and<00:06:07.520> sort<00:06:07.639> of<00:06:07.759> a<00:06:08.319> quite 00:06:08.550 --> 00:06:08.560 align:start position:0% looking at this and sort of a quite 00:06:08.560 --> 00:06:09.990 align:start position:0% looking at this and sort of a quite imprecise<00:06:09.080> model<00:06:09.360> and<00:06:09.479> we're<00:06:09.599> not<00:06:09.759> actually 00:06:09.990 --> 00:06:10.000 align:start position:0% imprecise model and we're not actually 00:06:10.000 --> 00:06:12.510 align:start position:0% imprecise model and we're not actually able<00:06:10.240> to<00:06:10.479> consider<00:06:10.840> all<00:06:11.000> of<00:06:11.160> the<00:06:12.120> all<00:06:12.280> of<00:06:12.400> the 00:06:12.510 --> 00:06:12.520 align:start position:0% able to consider all of the all of the 00:06:12.520 --> 00:06:15.150 align:start position:0% able to consider all of the all of the incomes<00:06:12.840> and<00:06:13.000> all<00:06:13.120> of<00:06:13.479> the<00:06:13.599> expenditures<00:06:14.400> and 00:06:15.150 --> 00:06:15.160 align:start position:0% incomes and all of the expenditures and 00:06:15.160 --> 00:06:15.870 align:start position:0% incomes and all of the expenditures and I<00:06:15.240> guess<00:06:15.360> you<00:06:15.440> could<00:06:15.599> say<00:06:15.720> that<00:06:15.800> we're 00:06:15.870 --> 00:06:15.880 align:start position:0% I guess you could say that we're 00:06:15.880 --> 00:06:17.870 align:start position:0% I guess you could say that we're shooting<00:06:16.120> from<00:06:16.199> the<00:06:16.319> hip<00:06:16.479> a<00:06:16.560> little<00:06:16.680> bit<00:06:17.120> um 00:06:17.870 --> 00:06:17.880 align:start position:0% shooting from the hip a little bit um 00:06:17.880 --> 00:06:19.430 align:start position:0% shooting from the hip a little bit um but<00:06:18.039> these<00:06:18.199> metrics<00:06:18.599> do<00:06:18.800> do<00:06:18.960> provide<00:06:19.199> us<00:06:19.319> with 00:06:19.430 --> 00:06:19.440 align:start position:0% but these metrics do do provide us with 00:06:19.440 --> 00:06:20.990 align:start position:0% but these metrics do do provide us with some<00:06:19.639> indication<00:06:20.199> of<00:06:20.560> how<00:06:20.720> things<00:06:20.840> are 00:06:20.990 --> 00:06:21.000 align:start position:0% some indication of how things are 00:06:21.000 --> 00:06:23.150 align:start position:0% some indication of how things are changing<00:06:21.560> right<00:06:22.160> if<00:06:22.280> they're<00:06:22.400> getting<00:06:22.680> bad<00:06:23.039> if 00:06:23.150 --> 00:06:23.160 align:start position:0% changing right if they're getting bad if 00:06:23.160 --> 00:06:24.550 align:start position:0% changing right if they're getting bad if they're<00:06:23.280> getting<00:06:23.440> really<00:06:23.720> bad<00:06:24.000> or<00:06:24.160> if<00:06:24.319> this 00:06:24.550 --> 00:06:24.560 align:start position:0% they're getting really bad or if this 00:06:24.560 --> 00:06:26.350 align:start position:0% they're getting really bad or if this really<00:06:24.800> is<00:06:24.960> something<00:06:25.479> unsustainable<00:06:26.120> and<00:06:26.199> in 00:06:26.350 --> 00:06:26.360 align:start position:0% really is something unsustainable and in 00:06:26.360 --> 00:06:28.629 align:start position:0% really is something unsustainable and in this<00:06:26.840> in<00:06:27.000> that<00:06:27.160> sort<00:06:27.319> of<00:06:27.840> early<00:06:28.120> stages<00:06:28.479> for 00:06:28.629 --> 00:06:28.639 align:start position:0% this in that sort of early stages for 00:06:28.639 --> 00:06:30.430 align:start position:0% this in that sort of early stages for Tao<00:06:29.000> that<00:06:29.120> wasn't<00:06:29.319> un<00:06:29.560> sustainable<00:06:30.000> model<00:06:30.319> but 00:06:30.430 --> 00:06:30.440 align:start position:0% Tao that wasn't un sustainable model but 00:06:30.440 --> 00:06:31.670 align:start position:0% Tao that wasn't un sustainable model but it<00:06:30.520> is<00:06:30.639> getting<00:06:30.840> better<00:06:31.120> and<00:06:31.240> that<00:06:31.400> that's 00:06:31.670 --> 00:06:31.680 align:start position:0% it is getting better and that that's 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the table I was struggling for titles<00:06:38.560> uh<00:06:39.080> so<00:06:39.960> thanks<00:06:40.120> to<00:06:40.240> rollup 00:06:41.189 --> 00:06:41.199 align:start position:0% titles uh so thanks to rollup 00:06:41.199 --> 00:06:44.390 align:start position:0% titles uh so thanks to rollup competition<00:06:42.199> uh<00:06:42.400> users<00:06:43.039> can<00:06:43.360> base<00:06:43.599> users<00:06:44.240> can 00:06:44.390 --> 00:06:44.400 align:start position:0% competition uh users can base users can 00:06:44.400 --> 00:06:47.150 align:start position:0% competition uh users can base users can migrate<00:06:44.800> easily<00:06:45.400> between<00:06:46.400> rollups<00:06:46.960> that<00:06:47.080> have 00:06:47.150 --> 00:06:47.160 align:start position:0% migrate easily between rollups that have 00:06:47.160 --> 00:06:48.589 align:start position:0% migrate easily between rollups that have similar<00:06:47.440> Network<00:06:47.800> effects<00:06:48.120> so<00:06:48.280> Network 00:06:48.589 --> 00:06:48.599 align:start position:0% similar Network effects so Network 00:06:48.599 --> 00:06:52.029 align:start position:0% similar Network effects so Network effects<00:06:48.800> are<00:06:48.919> a<00:06:49.080> key<00:06:49.280> part<00:06:49.599> of<00:06:50.199> of<00:06:51.199> why<00:06:51.919> why 00:06:52.029 --> 00:06:52.039 align:start position:0% effects are a key part of of why why 00:06:52.039 --> 00:06:54.589 align:start position:0% effects are a key part of of why why users<00:06:52.360> will<00:06:52.520> stay<00:06:52.720> on<00:06:52.840> a<00:06:52.960> rollup<00:06:53.800> uh<00:06:54.039> today<00:06:54.360> or 00:06:54.589 --> 00:06:54.599 align:start position:0% users will stay on a rollup uh today or 00:06:54.599 --> 00:06:56.749 align:start position:0% users will stay on a rollup uh today or base<00:06:54.800> rollup<00:06:55.160> today<00:06:55.440> but<00:06:55.560> base<00:06:55.759> rups<00:06:56.360> sort<00:06:56.560> of 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with L1 and other base rollups 00:07:02.599 --> 00:07:05.430 align:start position:0% connected with L1 and other base rollups so<00:07:03.280> this<00:07:03.720> network<00:07:04.160> effect<00:07:04.440> is<00:07:04.599> actually<00:07:04.960> Pro 00:07:05.430 --> 00:07:05.440 align:start position:0% so this network effect is actually Pro 00:07:05.440 --> 00:07:08.230 align:start position:0% so this network effect is actually Pro potentially<00:07:06.440> strongest<00:07:07.199> uh<00:07:07.400> or<00:07:07.639> like<00:07:07.800> shared 00:07:08.230 --> 00:07:08.240 align:start position:0% potentially strongest uh or like shared 00:07:08.240 --> 00:07:09.390 align:start position:0% potentially strongest uh or like shared between<00:07:08.479> all<00:07:08.639> Bas<00:07:08.840> rollups<00:07:09.199> so<00:07:09.319> the 00:07:09.390 --> 00:07:09.400 align:start position:0% between all Bas rollups so the 00:07:09.400 --> 00:07:10.710 align:start position:0% between all Bas rollups so the individual<00:07:09.800> rollups<00:07:10.199> don't<00:07:10.360> actually<00:07:10.560> have 00:07:10.710 --> 00:07:10.720 align:start position:0% individual rollups don't actually have 00:07:10.720 --> 00:07:13.869 align:start position:0% individual rollups don't actually have much<00:07:10.919> Network<00:07:11.319> effect<00:07:11.960> so<00:07:12.319> Bas 00:07:13.869 --> 00:07:13.879 align:start position:0% much Network effect so Bas 00:07:13.879 --> 00:07:16.070 align:start position:0% much Network effect so Bas rollups<00:07:14.879> sorry<00:07:15.160> users<00:07:15.400> on<00:07:15.560> Bas<00:07:15.720> rollups 00:07:16.070 --> 00:07:16.080 align:start position:0% rollups sorry users on Bas rollups 00:07:16.080 --> 00:07:18.230 align:start position:0% rollups sorry users on Bas rollups actually<00:07:16.360> have<00:07:17.160> B<00:07:17.400> basically<00:07:17.879> not<00:07:18.039> much 00:07:18.230 --> 00:07:18.240 align:start position:0% actually have B basically not much 00:07:18.240 --> 00:07:20.629 align:start position:0% actually have B basically not much switching<00:07:18.680> cost<00:07:18.960> between<00:07:19.199> Bas<00:07:19.400> rollups<00:07:19.840> so<00:07:20.440> in 00:07:20.629 --> 00:07:20.639 align:start position:0% switching cost between Bas rollups so in 00:07:20.639 --> 00:07:23.230 align:start position:0% switching cost between Bas rollups so in this<00:07:20.840> setting<00:07:21.840> the<00:07:22.199> the<00:07:22.360> provider<00:07:22.759> profits<00:07:23.120> so 00:07:23.230 --> 00:07:23.240 align:start position:0% this setting the the provider profits so 00:07:23.240 --> 00:07:24.950 align:start position:0% this setting the the provider profits so the<00:07:23.319> providers<00:07:23.720> I<00:07:23.800> mentioned<00:07:24.120> were<00:07:24.280> those<00:07:24.639> the 00:07:24.950 --> 00:07:24.960 align:start position:0% the providers I mentioned were those the 00:07:24.960 --> 00:07:28.469 align:start position:0% the providers I mentioned were those the the<00:07:25.080> provs<00:07:25.759> the<00:07:25.960> sequencers<00:07:26.840> and<00:07:27.000> the<00:07:27.319> D<00:07:28.319> in 00:07:28.469 --> 00:07:28.479 align:start position:0% the provs the sequencers and the D in 00:07:28.479 --> 00:07:30.430 align:start position:0% the provs the sequencers and the D in this<00:07:28.639> setting<00:07:29.199> the<00:07:29.680> the<00:07:29.759> hypothesis<00:07:30.199> that<00:07:30.319> I'm 00:07:30.430 --> 00:07:30.440 align:start position:0% this setting the the hypothesis that I'm 00:07:30.440 --> 00:07:32.029 align:start position:0% this setting the the hypothesis that I'm that<00:07:30.560> I'm<00:07:30.680> claiming<00:07:31.199> is<00:07:31.319> that<00:07:31.479> these<00:07:31.680> profits 00:07:32.029 --> 00:07:32.039 align:start position:0% that I'm claiming is that these profits 00:07:32.039 --> 00:07:34.189 align:start position:0% that I'm claiming is that these profits of<00:07:32.160> all<00:07:32.319> these<00:07:32.520> people<00:07:32.960> must<00:07:33.199> tend<00:07:33.440> to<00:07:33.599> zero 00:07:34.189 --> 00:07:34.199 align:start position:0% of all these people must tend to zero 00:07:34.199 --> 00:07:35.790 align:start position:0% of all these people must tend to zero because<00:07:34.720> it's<00:07:34.919> easy<00:07:35.160> for<00:07:35.319> another<00:07:35.599> base 00:07:35.790 --> 00:07:35.800 align:start position:0% because it's easy for another base 00:07:35.800 --> 00:07:37.710 align:start position:0% because it's easy for another base rollup<00:07:36.120> to<00:07:36.199> come<00:07:36.319> along<00:07:37.000> replicate<00:07:37.479> all<00:07:37.639> of 00:07:37.710 --> 00:07:37.720 align:start position:0% rollup to come along replicate all of 00:07:37.720 --> 00:07:38.869 align:start position:0% rollup to come along replicate all of the<00:07:37.800> functionality<00:07:38.240> that<00:07:38.400> exist<00:07:38.639> in<00:07:38.759> that 00:07:38.869 --> 00:07:38.879 align:start position:0% the functionality that exist in that 00:07:38.879 --> 00:07:42.029 align:start position:0% the functionality that exist in that base<00:07:39.520> rup<00:07:40.520> um<00:07:41.120> and<00:07:41.440> and<00:07:41.560> basically<00:07:41.879> just 00:07:42.029 --> 00:07:42.039 align:start position:0% base rup um and and basically just 00:07:42.039 --> 00:07:43.550 align:start position:0% base rup um and and basically just remove<00:07:42.400> some<00:07:42.520> of<00:07:42.639> those<00:07:42.800> overheads<00:07:43.240> that<00:07:43.400> that 00:07:43.550 --> 00:07:43.560 align:start position:0% remove some of those overheads that that 00:07:43.560 --> 00:07:45.070 align:start position:0% remove some of those overheads that that the<00:07:43.680> previous<00:07:43.960> one<00:07:44.120> was<00:07:44.400> that<00:07:44.560> the<00:07:44.680> profits 00:07:45.070 --> 00:07:45.080 align:start position:0% the previous one was that the profits 00:07:45.080 --> 00:07:47.950 align:start position:0% the previous one was that the profits are<00:07:45.319> the<00:07:45.919> overheads<00:07:46.919> uh<00:07:47.039> that<00:07:47.240> that<00:07:47.400> base<00:07:47.599> rup 00:07:47.950 --> 00:07:47.960 align:start position:0% are the overheads uh that that base rup 00:07:47.960 --> 00:07:51.110 align:start position:0% are the overheads uh that that base rup was<00:07:48.280> trying<00:07:48.560> to<00:07:48.840> generate<00:07:49.840> um<00:07:50.520> but<00:07:50.680> this<00:07:50.800> zero 00:07:51.110 --> 00:07:51.120 align:start position:0% was trying to generate um but this zero 00:07:51.120 --> 00:07:53.390 align:start position:0% was trying to generate um but this zero profit<00:07:51.360> Paradigm<00:07:51.720> is<00:07:51.840> far<00:07:52.080> away<00:07:53.080> uh<00:07:53.199> there's 00:07:53.390 --> 00:07:53.400 align:start position:0% profit Paradigm is far away uh there's 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we're in uh it's still possible that provs<00:07:59.039> and<00:07:59.120> sequence<00:07:59.479> users<00:07:59.759> can<00:07:59.879> actually<00:08:00.120> be 00:08:00.270 --> 00:08:00.280 align:start position:0% provs and sequence users can actually be 00:08:00.280 --> 00:08:03.110 align:start position:0% provs and sequence users can actually be making<00:08:00.520> money<00:08:01.240> um<00:08:01.560> but<00:08:02.159> again<00:08:02.479> we<00:08:02.879> this<00:08:03.000> is 00:08:03.110 --> 00:08:03.120 align:start position:0% making money um but again we this is 00:08:03.120 --> 00:08:04.790 align:start position:0% making money um but again we this is going<00:08:03.199> to<00:08:03.280> be<00:08:03.440> sort<00:08:03.560> of<00:08:03.680> a<00:08:03.759> long<00:08:04.080> a<00:08:04.199> long<00:08:04.520> road 00:08:04.790 --> 00:08:04.800 align:start position:0% going to be sort of a long a long road 00:08:04.800 --> 00:08:06.950 align:start position:0% going to be sort of a long a long road and<00:08:04.919> we're<00:08:05.039> going<00:08:05.159> to<00:08:05.280> get<00:08:05.440> there<00:08:05.879> uh 00:08:06.950 --> 00:08:06.960 align:start position:0% and we're going to get there uh 00:08:06.960 --> 00:08:08.869 align:start position:0% and we're going to get there uh incrementally<00:08:07.960> uh<00:08:08.120> and<00:08:08.360> again<00:08:08.479> depending<00:08:08.759> on 00:08:08.869 --> 00:08:08.879 align:start position:0% incrementally uh and again depending on 00:08:08.879 --> 00:08:09.990 align:start position:0% incrementally uh and again depending on how<00:08:08.960> you<00:08:09.080> look<00:08:09.159> at<00:08:09.280> the 00:08:09.990 --> 00:08:10.000 align:start position:0% how you look at the 00:08:10.000 --> 00:08:13.149 align:start position:0% how you look at the road<00:08:11.000> uh<00:08:11.479> like<00:08:12.080> income<00:08:12.520> income<00:08:12.800> is<00:08:12.919> tending 00:08:13.149 --> 00:08:13.159 align:start position:0% road uh like income income is tending 00:08:13.159 --> 00:08:14.350 align:start position:0% road uh like income income is tending towards<00:08:13.440> expenditure<00:08:13.879> you<00:08:13.960> can<00:08:14.080> see<00:08:14.199> that<00:08:14.280> as 00:08:14.350 --> 00:08:14.360 align:start position:0% towards expenditure you can see that as 00:08:14.360 --> 00:08:16.029 align:start position:0% towards expenditure you can see that as a<00:08:14.479> bad<00:08:14.680> thing<00:08:15.199> um<00:08:15.400> but<00:08:15.520> you<00:08:15.599> can<00:08:15.680> also<00:08:15.840> see<00:08:15.960> it 00:08:16.029 --> 00:08:16.039 align:start position:0% a bad thing um but you can also see it 00:08:16.039 --> 00:08:17.230 align:start position:0% a bad thing um but you can also see it as<00:08:16.120> a<00:08:16.240> good<00:08:16.400> thing<00:08:16.639> right<00:08:16.759> especially<00:08:17.080> in<00:08:17.159> the 00:08:17.230 --> 00:08:17.240 align:start position:0% as a good thing right especially in the 00:08:17.240 --> 00:08:19.830 align:start position:0% as a good thing right especially in the case<00:08:17.400> of<00:08:17.520> Tao<00:08:18.520> uh<00:08:18.680> Tao<00:08:19.319> when<00:08:19.440> they<00:08:19.560> initially 00:08:19.830 --> 00:08:19.840 align:start position:0% case of Tao uh Tao when they initially 00:08:19.840 --> 00:08:21.270 align:start position:0% case of Tao uh Tao when they initially launched<00:08:20.280> where<00:08:20.440> the<00:08:20.599> expenditure<00:08:21.080> was 00:08:21.270 --> 00:08:21.280 align:start position:0% launched where the expenditure was 00:08:21.280 --> 00:08:23.550 align:start position:0% launched where the expenditure was really<00:08:21.919> uh<00:08:22.039> greater<00:08:22.319> than<00:08:22.479> income<00:08:23.120> getting<00:08:23.360> it 00:08:23.550 --> 00:08:23.560 align:start position:0% really uh greater than income getting it 00:08:23.560 --> 00:08:25.270 align:start position:0% really uh greater than income getting it close<00:08:23.759> to<00:08:23.879> income<00:08:24.199> and<00:08:24.440> and<00:08:24.919> maybe<00:08:25.120> even 00:08:25.270 --> 00:08:25.280 align:start position:0% close to income and and maybe even 00:08:25.280 --> 00:08:27.950 align:start position:0% close to income and and maybe even getting<00:08:25.440> a<00:08:25.560> true<00:08:25.960> past<00:08:26.280> income<00:08:26.919> uh<00:08:27.319> uh<00:08:27.599> is<00:08:27.840> is 00:08:27.950 --> 00:08:27.960 align:start position:0% getting a true past income uh uh is is 00:08:27.960 --> 00:08:30.149 align:start position:0% getting a true past income uh uh is is definitely<00:08:28.280> a<00:08:28.360> good<00:08:28.560> thing<00:08:29.599> so<00:08:29.720> how<00:08:29.840> you<00:08:30.000> look 00:08:30.149 --> 00:08:30.159 align:start position:0% definitely a good thing so how you look 00:08:30.159 --> 00:08:33.029 align:start position:0% definitely a good thing so how you look at<00:08:30.280> these<00:08:30.440> things<00:08:30.800> is<00:08:30.960> very<00:08:31.560> important<00:08:32.560> okay 00:08:33.029 --> 00:08:33.039 align:start position:0% at these things is very important okay 00:08:33.039 --> 00:08:35.509 align:start position:0% at these things is very important okay so<00:08:33.800> on<00:08:33.959> this<00:08:34.159> path<00:08:34.360> to<00:08:34.519> the<00:08:34.599> end<00:08:34.800> game<00:08:35.120> this 00:08:35.509 --> 00:08:35.519 align:start position:0% so on this path to the end game this 00:08:35.519 --> 00:08:37.990 align:start position:0% so on this path to the end game this zero<00:08:35.839> profit<00:08:36.120> endgame<00:08:37.080> uh<00:08:37.200> there<00:08:37.360> is<00:08:37.800> going<00:08:37.919> to 00:08:37.990 --> 00:08:38.000 align:start position:0% zero profit endgame uh there is going to 00:08:38.000 --> 00:08:39.190 align:start position:0% zero profit endgame uh there is going to be<00:08:38.120> increases<00:08:38.479> in<00:08:38.599> income<00:08:38.919> and<00:08:39.000> there's<00:08:39.120> going 00:08:39.190 --> 00:08:39.200 align:start position:0% be increases in income and there's going 00:08:39.200 --> 00:08:40.829 align:start position:0% be increases in income and there's going to<00:08:39.320> be<00:08:39.399> decreases<00:08:39.800> in<00:08:39.959> expenditure<00:08:40.760> the 00:08:40.829 --> 00:08:40.839 align:start position:0% to be decreases in expenditure the 00:08:40.839 --> 00:08:42.110 align:start position:0% to be decreases in expenditure the format<00:08:41.440> supposed<00:08:41.599> to<00:08:41.640> be<00:08:41.719> decreases<00:08:42.000> in 00:08:42.110 --> 00:08:42.120 align:start position:0% format supposed to be decreases in 00:08:42.120 --> 00:08:44.070 align:start position:0% format supposed to be decreases in expenditure<00:08:43.080> uh<00:08:43.320> a<00:08:43.399> little<00:08:43.519> bit<00:08:43.640> on<00:08:43.760> a<00:08:43.839> theme 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the<00:08:52.320> the 00:08:52.470 --> 00:08:52.480 align:start position:0% we have as as we shed some of the the 00:08:52.480 --> 00:08:54.949 align:start position:0% we have as as we shed some of the the technical<00:08:52.839> dat<00:08:53.120> or<00:08:53.399> set<00:08:53.640> some<00:08:53.800> of<00:08:53.959> the<00:08:54.240> sort<00:08:54.440> of 00:08:54.949 --> 00:08:54.959 align:start position:0% technical dat or set some of the sort of 00:08:54.959 --> 00:08:57.030 align:start position:0% technical dat or set some of the sort of inefficiencies<00:08:55.680> of<00:08:55.839> early<00:08:56.120> stage<00:08:56.399> based<00:08:56.600> rups 00:08:57.030 --> 00:08:57.040 align:start position:0% inefficiencies of early stage based rups 00:08:57.040 --> 00:08:59.269 align:start position:0% inefficiencies of early stage based rups we're<00:08:57.200> going<00:08:57.320> to<00:08:57.680> decrease<00:08:58.040> the<00:08:58.279> expenditure 00:08:59.269 --> 00:08:59.279 align:start position:0% we're going to decrease the expenditure 00:08:59.279 --> 00:09:00.509 align:start position:0% we're going to decrease the expenditure um<00:08:59.560> and<00:08:59.680> we're<00:08:59.800> also<00:09:00.040> going<00:09:00.160> to<00:09:00.240> come<00:09:00.320> up<00:09:00.399> with 00:09:00.509 --> 00:09:00.519 align:start position:0% um and we're also going to come up with 00:09:00.519 --> 00:09:04.430 align:start position:0% um and we're also going to come up with new<00:09:00.640> ways<00:09:00.800> to<00:09:00.920> increase<00:09:01.200> the<00:09:01.560> income<00:09:02.560> um<00:09:03.440> and 00:09:04.430 --> 00:09:04.440 align:start position:0% new ways to increase the income um and 00:09:04.440 --> 00:09:05.550 align:start position:0% new ways to increase the income um and yeah<00:09:04.640> basically<00:09:05.000> that<00:09:05.160> that<00:09:05.279> that's<00:09:05.440> the 00:09:05.550 --> 00:09:05.560 align:start position:0% yeah basically that that that's the 00:09:05.560 --> 00:09:06.670 align:start position:0% yeah basically that that that's the summary<00:09:05.880> of<00:09:06.000> what<00:09:06.079> the<00:09:06.200> sentence<00:09:06.440> at<00:09:06.519> the 00:09:06.670 --> 00:09:06.680 align:start position:0% summary of what the sentence at the 00:09:06.680 --> 00:09:10.470 align:start position:0% summary of what the sentence at the bottom<00:09:07.680> okay<00:09:08.160> so<00:09:09.160> uh<00:09:09.399> here's<00:09:09.640> the<00:09:09.760> lists<00:09:10.200> right 00:09:10.470 --> 00:09:10.480 align:start position:0% bottom okay so uh here's the lists right 00:09:10.480 --> 00:09:13.389 align:start position:0% bottom okay so uh here's the lists right so<00:09:11.160> there's<00:09:11.360> no<00:09:11.600> real<00:09:11.959> model<00:09:12.640> as<00:09:12.920> as<00:09:13.079> such 00:09:13.389 --> 00:09:13.399 align:start position:0% so there's no real model as as such 00:09:13.399 --> 00:09:15.509 align:start position:0% so there's no real model as as such right<00:09:13.560> it's<00:09:13.760> just<00:09:13.920> just<00:09:14.040> a<00:09:14.200> list<00:09:14.839> uh<00:09:15.200> you<00:09:15.399> have 00:09:15.509 --> 00:09:15.519 align:start position:0% right it's just just a list uh you have 00:09:15.519 --> 00:09:16.990 align:start position:0% right it's just just a list uh you have to<00:09:15.640> basically<00:09:16.000> sum<00:09:16.240> up<00:09:16.360> all<00:09:16.480> of<00:09:16.600> these<00:09:16.760> Peak 00:09:16.990 --> 00:09:17.000 align:start position:0% to basically sum up all of these Peak 00:09:17.000 --> 00:09:18.230 align:start position:0% to basically sum up all of these Peak components<00:09:17.360> that<00:09:17.440> you<00:09:17.560> have<00:09:17.680> in<00:09:17.920> your<00:09:18.040> base 00:09:18.230 --> 00:09:18.240 align:start position:0% components that you have in your base 00:09:18.240 --> 00:09:20.590 align:start position:0% components that you have in your base rollup<00:09:18.880> and<00:09:19.040> check<00:09:19.680> is<00:09:19.839> the<00:09:20.040> left<00:09:20.279> hand<00:09:20.399> side 00:09:20.590 --> 00:09:20.600 align:start position:0% rollup and check is the left hand side 00:09:20.600 --> 00:09:21.790 align:start position:0% rollup and check is the left hand side greater<00:09:20.880> than<00:09:21.000> the<00:09:21.079> right<00:09:21.279> hand<00:09:21.440> side<00:09:21.640> and 00:09:21.790 --> 00:09:21.800 align:start position:0% greater than the right hand side and 00:09:21.800 --> 00:09:24.190 align:start position:0% greater than the right hand side and again<00:09:22.519> there's<00:09:22.760> five<00:09:23.000> there's<00:09:23.240> like<00:09:23.839> multiple 00:09:24.190 --> 00:09:24.200 align:start position:0% again there's five there's like multiple 00:09:24.200 --> 00:09:25.310 align:start position:0% again there's five there's like multiple players<00:09:24.480> in<00:09:24.600> the<00:09:24.720> system<00:09:25.000> so<00:09:25.120> when<00:09:25.200> we're 00:09:25.310 --> 00:09:25.320 align:start position:0% players in the system so when we're 00:09:25.320 --> 00:09:26.870 align:start position:0% players in the system so when we're thinking<00:09:25.480> about<00:09:25.600> base<00:09:25.839> roll<00:09:26.040> up<00:09:26.200> Revenue<00:09:26.800> we 00:09:26.870 --> 00:09:26.880 align:start position:0% thinking about base roll up Revenue we 00:09:26.880 --> 00:09:28.949 align:start position:0% thinking about base roll up Revenue we have<00:09:27.000> to<00:09:27.120> look<00:09:27.240> at<00:09:27.320> it<00:09:27.600> but<00:09:28.040> uh<00:09:28.440> player<00:09:28.760> by 00:09:28.949 --> 00:09:28.959 align:start position:0% have to look at it but uh player by 00:09:28.959 --> 00:09:30.310 align:start position:0% have to look at it but uh player by player 00:09:30.310 --> 00:09:30.320 align:start position:0% player 00:09:30.320 --> 00:09:32.550 align:start position:0% player so<00:09:30.519> the<00:09:30.600> users<00:09:30.920> have<00:09:31.120> this<00:09:31.240> warm<00:09:31.519> fuzzy<00:09:32.000> ux<00:09:32.399> or 00:09:32.550 --> 00:09:32.560 align:start position:0% so the users have this warm fuzzy ux or 00:09:32.560 --> 00:09:34.550 align:start position:0% so the users have this warm fuzzy ux or utility<00:09:33.000> that's<00:09:33.160> hard<00:09:33.279> to<00:09:33.440> quantify<00:09:34.200> but<00:09:34.360> they 00:09:34.550 --> 00:09:34.560 align:start position:0% utility that's hard to quantify but they 00:09:34.560 --> 00:09:37.710 align:start position:0% utility that's hard to quantify but they pay<00:09:35.399> like<00:09:35.800> very<00:09:36.120> quantifiable<00:09:36.720> fees<00:09:37.399> uh<00:09:37.600> but 00:09:37.710 --> 00:09:37.720 align:start position:0% pay like very quantifiable fees uh but 00:09:37.720 --> 00:09:38.790 align:start position:0% pay like very quantifiable fees uh but we<00:09:37.800> just<00:09:37.880> need<00:09:38.000> to<00:09:38.120> make<00:09:38.279> sure<00:09:38.440> that<00:09:38.560> there<00:09:38.680> is 00:09:38.790 --> 00:09:38.800 align:start position:0% we just need to make sure that there is 00:09:38.800 --> 00:09:40.190 align:start position:0% we just need to make sure that there is still<00:09:39.000> some<00:09:39.120> utility<00:09:39.519> that<00:09:39.640> these<00:09:39.760> users<00:09:40.040> are 00:09:40.190 --> 00:09:40.200 align:start position:0% still some utility that these users are 00:09:40.200 --> 00:09:42.710 align:start position:0% still some utility that these users are getting<00:09:40.920> and<00:09:41.040> if<00:09:41.120> they<00:09:41.279> stop<00:09:41.519> paying<00:09:42.160> uh<00:09:42.279> fees 00:09:42.710 --> 00:09:42.720 align:start position:0% getting and if they stop paying uh fees 00:09:42.720 --> 00:09:44.470 align:start position:0% getting and if they stop paying uh fees then<00:09:42.839> we<00:09:43.000> probably<00:09:43.200> have<00:09:43.279> to<00:09:43.440> question<00:09:44.200> are<00:09:44.360> we 00:09:44.470 --> 00:09:44.480 align:start position:0% then we probably have to question are we 00:09:44.480 --> 00:09:46.790 align:start position:0% then we probably have to question are we charging<00:09:44.800> too<00:09:45.040> much<00:09:45.600> or<00:09:45.800> are<00:09:45.920> we<00:09:46.160> actually 00:09:46.790 --> 00:09:46.800 align:start position:0% charging too much or are we actually 00:09:46.800 --> 00:09:49.710 align:start position:0% charging too much or are we actually generating<00:09:47.320> any<00:09:47.959> uh<00:09:48.079> benefit<00:09:48.399> to<00:09:48.519> the<00:09:48.720> users 00:09:49.710 --> 00:09:49.720 align:start position:0% generating any uh benefit to the users 00:09:49.720 --> 00:09:51.870 align:start position:0% generating any uh benefit to the users uh<00:09:50.200> proposers<00:09:51.200> the<00:09:51.320> proposers<00:09:51.720> have 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fees uh they generate me or I 00:09:59.680 --> 00:10:02.069 align:start position:0% collect fees uh they generate me or I they<00:10:00.000> execute<00:10:00.360> me<00:10:01.240> uh<00:10:01.360> they<00:10:01.480> also<00:10:01.720> potentially 00:10:02.069 --> 00:10:02.079 align:start position:0% they execute me uh they also potentially 00:10:02.079 --> 00:10:04.190 align:start position:0% they execute me uh they also potentially collect<00:10:02.440> issuance<00:10:03.320> issuance<00:10:03.760> is<00:10:03.880> a 00:10:04.190 --> 00:10:04.200 align:start position:0% collect issuance issuance is a 00:10:04.200 --> 00:10:06.630 align:start position:0% collect issuance issuance is a contentious<00:10:04.760> debate<00:10:05.399> uh<00:10:05.600> like<00:10:05.720> in<00:10:05.800> terms<00:10:06.079> of 00:10:06.630 --> 00:10:06.640 align:start position:0% contentious debate uh like in terms of 00:10:06.640 --> 00:10:08.550 align:start position:0% contentious debate uh like in terms of who's<00:10:06.920> paying<00:10:07.160> and<00:10:07.279> who's<00:10:07.720> receiving<00:10:08.160> uh<00:10:08.320> but 00:10:08.550 --> 00:10:08.560 align:start position:0% who's paying and who's receiving uh but 00:10:08.560 --> 00:10:12.150 align:start position:0% who's paying and who's receiving uh but l2s<00:10:09.200> can<00:10:09.680> base<00:10:09.880> rups<00:10:10.320> can<00:10:10.600> create<00:10:10.839> a<00:10:10.959> token<00:10:11.800> and 00:10:12.150 --> 00:10:12.160 align:start position:0% l2s can base rups can create a token and 00:10:12.160 --> 00:10:14.710 align:start position:0% l2s can base rups can create a token and uh<00:10:12.279> and<00:10:12.440> issue<00:10:12.720> it<00:10:12.800> to<00:10:12.959> the<00:10:13.120> to<00:10:13.519> proposers<00:10:14.519> and 00:10:14.710 --> 00:10:14.720 align:start position:0% uh and issue it to the to proposers and 00:10:14.720 --> 00:10:16.870 align:start position:0% uh and issue it to the to proposers and they<00:10:14.920> their<00:10:15.079> costs<00:10:15.399> are<00:10:15.600> L1<00:10:16.040> posting<00:10:16.640> and 00:10:16.870 --> 00:10:16.880 align:start position:0% they their costs are L1 posting and 00:10:16.880 --> 00:10:18.829 align:start position:0% they their costs are L1 posting and running<00:10:17.240> costs<00:10:17.839> provs<00:10:18.440> again<00:10:18.640> they<00:10:18.720> can 00:10:18.829 --> 00:10:18.839 align:start position:0% running costs provs again they can 00:10:18.839 --> 00:10:22.110 align:start position:0% running costs provs again they can collect<00:10:19.079> fees<00:10:19.399> as<00:10:19.519> well<00:10:20.000> issuance<00:10:20.480> as<00:10:20.640> well<00:10:21.480> um 00:10:22.110 --> 00:10:22.120 align:start position:0% collect fees as well issuance as well um 00:10:22.120 --> 00:10:23.550 align:start position:0% collect fees as well issuance as well um but<00:10:22.240> they<00:10:22.360> have<00:10:22.480> another<00:10:22.760> cost<00:10:23.040> which<00:10:23.160> is<00:10:23.360> the 00:10:23.550 --> 00:10:23.560 align:start position:0% but they have another cost which is the 00:10:23.560 --> 00:10:25.509 align:start position:0% but they have another cost which is the setup<00:10:23.959> which<00:10:24.079> is<00:10:24.760> quite<00:10:25.079> a<00:10:25.160> little<00:10:25.279> bit<00:10:25.399> more 00:10:25.509 --> 00:10:25.519 align:start position:0% setup which is quite a little bit more 00:10:25.519 --> 00:10:27.829 align:start position:0% setup which is quite a little bit more significant<00:10:25.920> than<00:10:26.000> a<00:10:26.160> proposer<00:10:27.000> uh<00:10:27.160> because 00:10:27.829 --> 00:10:27.839 align:start position:0% significant than a proposer uh because 00:10:27.839 --> 00:10:29.670 align:start position:0% significant than a proposer uh because again<00:10:28.000> ZK<00:10:28.279> approvers<00:10:28.640> are<00:10:28.800> are<00:10:29.079> sign<00:10:29.519> pretty 00:10:29.670 --> 00:10:29.680 align:start position:0% again ZK approvers are are sign pretty 00:10:29.680 --> 00:10:32.509 align:start position:0% again ZK approvers are are sign pretty significant<00:10:30.200> pieces<00:10:30.399> of<00:10:30.519> Machinery<00:10:31.519> uh<00:10:31.640> the 00:10:32.509 --> 00:10:32.519 align:start position:0% significant pieces of Machinery uh the 00:10:32.519 --> 00:10:35.269 align:start position:0% significant pieces of Machinery uh the Dow<00:10:33.519> uh<00:10:34.040> the<00:10:34.200> Dow<00:10:34.440> sort<00:10:34.600> of<00:10:34.760> actually<00:10:34.959> does 00:10:35.269 --> 00:10:35.279 align:start position:0% Dow uh the Dow sort of actually does 00:10:35.279 --> 00:10:36.670 align:start position:0% Dow uh the Dow sort of actually does have<00:10:35.399> a<00:10:35.519> sort<00:10:35.639> of<00:10:35.800> unique<00:10:36.120> income<00:10:36.399> source 00:10:36.670 --> 00:10:36.680 align:start position:0% have a sort of unique income source 00:10:36.680 --> 00:10:39.990 align:start position:0% have a sort of unique income source which<00:10:36.800> is<00:10:37.079> investors<00:10:38.079> uh<00:10:38.360> so<00:10:39.360> when<00:10:39.480> Bas<00:10:39.680> R<00:10:39.839> up 00:10:39.990 --> 00:10:40.000 align:start position:0% which is investors uh so when Bas R up 00:10:40.000 --> 00:10:41.750 align:start position:0% which is investors uh so when Bas R up launches<00:10:40.839> uh<00:10:40.959> you'll<00:10:41.160> see<00:10:41.399> that<00:10:41.519> there<00:10:41.600> might 00:10:41.750 --> 00:10:41.760 align:start position:0% launches uh you'll see that there might 00:10:41.760 --> 00:10:43.910 align:start position:0% launches uh you'll see that there might be<00:10:41.880> a<00:10:42.000> seed<00:10:42.320> round<00:10:42.600> or<00:10:42.800> multiple<00:10:43.120> seed<00:10:43.360> rounds 00:10:43.910 --> 00:10:43.920 align:start position:0% be a seed round or multiple seed rounds 00:10:43.920 --> 00:10:46.110 align:start position:0% be a seed round or multiple seed rounds uh<00:10:44.560> and<00:10:44.839> and<00:10:45.000> that<00:10:45.160> Revenue<00:10:45.720> that<00:10:45.920> that 00:10:46.110 --> 00:10:46.120 align:start position:0% uh and and that Revenue that that 00:10:46.120 --> 00:10:47.870 align:start position:0% uh and and that Revenue that that investment<00:10:46.680> does<00:10:47.040> pay<00:10:47.200> for<00:10:47.360> a<00:10:47.440> lot<00:10:47.560> of<00:10:47.680> The 00:10:47.870 --> 00:10:47.880 align:start position:0% investment does pay for a lot of The 00:10:47.880 --> 00:10:50.110 align:start position:0% investment does pay for a lot of The Upfront<00:10:48.279> costs<00:10:48.680> which<00:10:49.519> again<00:10:49.680> you<00:10:49.800> see<00:10:49.959> the 00:10:50.110 --> 00:10:50.120 align:start position:0% Upfront costs which again you see the 00:10:50.120 --> 00:10:51.750 align:start position:0% Upfront costs which again you see the approvers<00:10:50.920> and<00:10:51.040> potentially<00:10:51.440> the<00:10:51.680> the 00:10:51.750 --> 00:10:51.760 align:start position:0% approvers and potentially the the 00:10:51.760 --> 00:10:53.110 align:start position:0% approvers and potentially the the proposers<00:10:52.519> when<00:10:52.600> you<00:10:52.720> don't<00:10:52.839> when<00:10:52.920> you<00:10:53.000> don't 00:10:53.110 --> 00:10:53.120 align:start position:0% proposers when you don't when you don't 00:10:53.120 --> 00:10:54.190 align:start position:0% proposers when you don't when you don't know<00:10:53.200> what<00:10:53.320> the<00:10:53.399> fees<00:10:53.560> are<00:10:53.680> going<00:10:53.760> to<00:10:53.880> be<00:10:54.079> you 00:10:54.190 --> 00:10:54.200 align:start position:0% know what the fees are going to be you 00:10:54.200 --> 00:10:56.470 align:start position:0% know what the fees are going to be you do<00:10:54.360> need<00:10:54.600> some<00:10:55.320> some<00:10:55.519> money<00:10:55.720> in<00:10:55.839> the<00:10:56.000> bank<00:10:56.279> to 00:10:56.470 --> 00:10:56.480 align:start position:0% do need some some money in the bank to 00:10:56.480 --> 00:10:57.870 align:start position:0% do need some some money in the bank to sort<00:10:56.639> of<00:10:56.800> get<00:10:56.920> things<00:10:57.079> rolling<00:10:57.560> and<00:10:57.720> and 00:10:57.870 --> 00:10:57.880 align:start position:0% sort of get things rolling and and 00:10:57.880 --> 00:10:58.990 align:start position:0% sort of get things rolling and and that's<00:10:58.040> what<00:10:58.160> sort<00:10:58.279> of<00:10:58.399> Tao<00:10:58.639> we're<00:10:58.760> doing<00:10:58.920> at 00:10:58.990 --> 00:10:59.000 align:start position:0% that's what sort of Tao we're doing at 00:10:59.000 --> 00:11:00.389 align:start position:0% that's what sort of Tao we're doing at the<00:10:59.079> start<00:10:59.440> right<00:10:59.560> and<00:10:59.639> that<00:10:59.720> makes<00:10:59.959> sense<00:11:00.279> you 00:11:00.389 --> 00:11:00.399 align:start position:0% the start right and that makes sense you 00:11:00.399 --> 00:11:02.190 align:start position:0% the start right and that makes sense you need<00:11:00.519> to<00:11:00.760> get<00:11:00.880> the<00:11:01.000> users<00:11:01.560> make<00:11:01.839> create<00:11:02.079> the 00:11:02.190 --> 00:11:02.200 align:start position:0% need to get the users make create the 00:11:02.200 --> 00:11:04.269 align:start position:0% need to get the users make create the utility<00:11:03.000> make<00:11:03.120> sure<00:11:03.320> that<00:11:03.480> the<00:11:03.560> ux<00:11:03.880> isn't<00:11:04.079> too 00:11:04.269 --> 00:11:04.279 align:start position:0% utility make sure that the ux isn't too 00:11:04.279 --> 00:11:05.870 align:start position:0% utility make sure that the ux isn't too bad<00:11:04.519> and<00:11:04.639> then<00:11:04.760> you<00:11:04.880> start<00:11:05.160> to<00:11:05.480> generate<00:11:05.800> the 00:11:05.870 --> 00:11:05.880 align:start position:0% bad and then you start to generate the 00:11:05.880 --> 00:11:07.269 align:start position:0% bad and then you start to generate the fees<00:11:06.240> and<00:11:06.360> potentially<00:11:06.720> the<00:11:06.839> Dow<00:11:07.079> can 00:11:07.269 --> 00:11:07.279 align:start position:0% fees and potentially the Dow can 00:11:07.279 --> 00:11:09.190 align:start position:0% fees and potentially the Dow can recuperate<00:11:07.760> those<00:11:08.279> for<00:11:08.480> the<00:11:08.680> those<00:11:08.839> losses 00:11:09.190 --> 00:11:09.200 align:start position:0% recuperate those for the those losses 00:11:09.200 --> 00:11:13.350 align:start position:0% recuperate those for the those losses for<00:11:09.440> the<00:11:10.240> uh<00:11:10.839> investors<00:11:11.839> uh<00:11:12.360> but<00:11:12.800> the<00:11:12.880> da<00:11:13.160> also 00:11:13.350 --> 00:11:13.360 align:start position:0% for the uh investors uh but the da also 00:11:13.360 --> 00:11:15.750 align:start position:0% for the uh investors uh but the da also has<00:11:13.560> significant<00:11:14.440> uh<00:11:15.200> I<00:11:15.279> also<00:11:15.440> mentioned 00:11:15.750 --> 00:11:15.760 align:start position:0% has significant uh I also mentioned 00:11:15.760 --> 00:11:17.949 align:start position:0% has significant uh I also mentioned proposal<00:11:16.120> fee<00:11:16.399> proposal<00:11:16.720> fee<00:11:16.959> is<00:11:17.160> sort<00:11:17.320> of 00:11:17.949 --> 00:11:17.959 align:start position:0% proposal fee proposal fee is sort of 00:11:17.959 --> 00:11:20.870 align:start position:0% proposal fee proposal fee is sort of more<00:11:18.120> of<00:11:18.200> a<00:11:18.360> complex<00:11:19.040> topic<00:11:19.440> but<00:11:20.320> uh<00:11:20.560> it<00:11:20.680> is 00:11:20.870 --> 00:11:20.880 align:start position:0% more of a complex topic but uh it is 00:11:20.880 --> 00:11:22.629 align:start position:0% more of a complex topic but uh it is possible<00:11:21.200> that<00:11:21.639> the<00:11:21.800> Dow<00:11:22.079> can<00:11:22.160> be<00:11:22.279> collecting 00:11:22.629 --> 00:11:22.639 align:start position:0% possible that the Dow can be collecting 00:11:22.639 --> 00:11:25.509 align:start position:0% possible that the Dow can be collecting money<00:11:23.279> from<00:11:24.279> actually<00:11:24.560> charging<00:11:25.040> proposers 00:11:25.509 --> 00:11:25.519 align:start position:0% money from actually charging proposers 00:11:25.519 --> 00:11:28.350 align:start position:0% money from actually charging proposers on<00:11:25.680> L1<00:11:26.240> for<00:11:26.440> the<00:11:26.600> right<00:11:26.760> to<00:11:26.880> be<00:11:27.000> a<00:11:27.120> proposer<00:11:27.639> but 00:11:28.350 --> 00:11:28.360 align:start position:0% on L1 for the right to be a proposer but 00:11:28.360 --> 00:11:29.910 align:start position:0% on L1 for the right to be a proposer but that's<00:11:28.480> not<00:11:28.560> going<00:11:28.639> to<00:11:28.720> be<00:11:28.760> a<00:11:28.839> focus<00:11:29.079> to 00:11:29.910 --> 00:11:29.920 align:start position:0% that's not going to be a focus to 00:11:29.920 --> 00:11:31.910 align:start position:0% that's not going to be a focus to H<00:11:30.079> they<00:11:30.240> also<00:11:30.480> have<00:11:30.600> to<00:11:30.760> pay<00:11:31.000> so<00:11:31.399> the<00:11:31.519> Dow<00:11:31.800> is 00:11:31.910 --> 00:11:31.920 align:start position:0% H they also have to pay so the Dow is 00:11:31.920 --> 00:11:33.150 align:start position:0% H they also have to pay so the Dow is important<00:11:32.320> though<00:11:32.440> because<00:11:32.639> the<00:11:32.760> D<00:11:32.959> does<00:11:33.079> have 00:11:33.150 --> 00:11:33.160 align:start position:0% important though because the D does have 00:11:33.160 --> 00:11:35.670 align:start position:0% important though because the D does have to<00:11:33.240> pay<00:11:33.360> for<00:11:33.480> things<00:11:33.600> like<00:11:33.839> R&D<00:11:34.839> we<00:11:35.000> can't<00:11:35.240> keep 00:11:35.670 --> 00:11:35.680 align:start position:0% to pay for things like R&D we can't keep 00:11:35.680 --> 00:11:38.430 align:start position:0% to pay for things like R&D we can't keep depending<00:11:36.040> on<00:11:36.440> ethereum<00:11:36.880> Foundation<00:11:37.880> uh<00:11:38.040> for 00:11:38.430 --> 00:11:38.440 align:start position:0% depending on ethereum Foundation uh for 00:11:38.440 --> 00:11:40.550 align:start position:0% depending on ethereum Foundation uh for for<00:11:38.639> funding<00:11:39.320> uh<00:11:39.440> we<00:11:39.600> have<00:11:39.720> to<00:11:40.120> sort<00:11:40.279> of<00:11:40.399> go 00:11:40.550 --> 00:11:40.560 align:start position:0% for funding uh we have to sort of go 00:11:40.560 --> 00:11:41.590 align:start position:0% for funding uh we have to sort of go beyond<00:11:40.800> that<00:11:40.920> especially<00:11:41.200> when<00:11:41.279> we're<00:11:41.440> trying 00:11:41.590 --> 00:11:41.600 align:start position:0% beyond that especially when we're trying 00:11:41.600 --> 00:11:43.949 align:start position:0% beyond that especially when we're trying to<00:11:41.800> create<00:11:42.040> base<00:11:42.240> rollups<00:11:42.720> at<00:11:42.839> sort<00:11:43.000> of 00:11:43.949 --> 00:11:43.959 align:start position:0% to create base rollups at sort of 00:11:43.959 --> 00:11:46.470 align:start position:0% to create base rollups at sort of parallel<00:11:44.399> to<00:11:44.560> the<00:11:44.639> ethereum<00:11:45.000> ecosystem<00:11:46.000> uh<00:11:46.120> so 00:11:46.470 --> 00:11:46.480 align:start position:0% parallel to the ethereum ecosystem uh so 00:11:46.480 --> 00:11:48.550 align:start position:0% parallel to the ethereum ecosystem uh so some<00:11:46.720> R&D<00:11:47.160> money<00:11:47.360> does<00:11:47.480> need<00:11:47.600> to<00:11:47.680> be<00:11:47.800> generated 00:11:48.550 --> 00:11:48.560 align:start position:0% some R&D money does need to be generated 00:11:48.560 --> 00:11:50.750 align:start position:0% some R&D money does need to be generated uh<00:11:48.760> and<00:11:48.880> that<00:11:49.040> comes<00:11:49.200> out<00:11:49.320> of<00:11:49.440> the<00:11:49.639> D<00:11:50.639> and 00:11:50.750 --> 00:11:50.760 align:start position:0% uh and that comes out of the D and 00:11:50.760 --> 00:11:52.389 align:start position:0% uh and that comes out of the D and there's<00:11:50.920> also<00:11:51.160> governance<00:11:51.760> running<00:11:52.000> costs<00:11:52.279> of 00:11:52.389 --> 00:11:52.399 align:start position:0% there's also governance running costs of 00:11:52.399 --> 00:11:55.150 align:start position:0% there's also governance running costs of the<00:11:52.480> D<00:11:53.399> um<00:11:53.760> and<00:11:53.880> then<00:11:54.000> we<00:11:54.160> have<00:11:54.320> this<00:11:54.480> all<00:11:55.040> these 00:11:55.150 --> 00:11:55.160 align:start position:0% the D um and then we have this all these 00:11:55.160 --> 00:11:56.670 align:start position:0% the D um and then we have this all these all<00:11:55.399> chains<00:11:55.639> and<00:11:55.760> rollups<00:11:56.160> so<00:11:56.279> what<00:11:56.360> do<00:11:56.519> they 00:11:56.670 --> 00:11:56.680 align:start position:0% all chains and rollups so what do they 00:11:56.680 --> 00:11:59.230 align:start position:0% all chains and rollups so what do they actually<00:11:56.880> mean<00:11:57.200> so<00:11:57.880> when<00:11:58.120> the<00:11:58.519> these<00:11:58.800> all 00:11:59.230 --> 00:11:59.240 align:start position:0% actually mean so when the these all 00:11:59.240 --> 00:12:01.710 align:start position:0% actually mean so when the these all rollups<00:11:59.600> comp<00:12:00.120> compos<00:12:00.600> with<00:12:00.720> the<00:12:00.839> base<00:12:01.079> rollup 00:12:01.710 --> 00:12:01.720 align:start position:0% rollups comp compos with the base rollup 00:12:01.720 --> 00:12:02.790 align:start position:0% rollups comp compos with the base rollup that<00:12:01.800> could<00:12:01.920> be<00:12:02.000> seen<00:12:02.200> as<00:12:02.320> income<00:12:02.680> right 00:12:02.790 --> 00:12:02.800 align:start position:0% that could be seen as income right 00:12:02.800 --> 00:12:04.550 align:start position:0% that could be seen as income right you're<00:12:02.920> creating<00:12:03.279> ux<00:12:03.800> you're<00:12:03.920> creating 00:12:04.550 --> 00:12:04.560 align:start position:0% you're creating ux you're creating 00:12:04.560 --> 00:12:07.670 align:start position:0% you're creating ux you're creating improved<00:12:04.959> utility<00:12:05.360> for<00:12:05.519> users<00:12:06.519> um<00:12:07.399> and<00:12:07.519> that 00:12:07.670 --> 00:12:07.680 align:start position:0% improved utility for users um and that 00:12:07.680 --> 00:12:09.350 align:start position:0% improved utility for users um and that can<00:12:07.839> allow<00:12:08.040> you<00:12:08.079> to<00:12:08.200> charge<00:12:08.440> more<00:12:08.560> fees<00:12:09.040> but 00:12:09.350 --> 00:12:09.360 align:start position:0% can allow you to charge more fees but 00:12:09.360 --> 00:12:11.790 align:start position:0% can allow you to charge more fees but similarly<00:12:10.360> they<00:12:10.519> also<00:12:10.760> create<00:12:11.040> competition 00:12:11.790 --> 00:12:11.800 align:start position:0% similarly they also create competition 00:12:11.800 --> 00:12:14.710 align:start position:0% similarly they also create competition and<00:12:12.040> and<00:12:12.240> with<00:12:12.440> competition<00:12:13.360> comes<00:12:14.160> uh<00:12:14.519> sort 00:12:14.710 --> 00:12:14.720 align:start position:0% and and with competition comes uh sort 00:12:14.720 --> 00:12:19.470 align:start position:0% and and with competition comes uh sort of<00:12:14.839> tighter<00:12:15.199> profit<00:12:15.959> margins<00:12:17.199> uh<00:12:18.320> so<00:12:19.320> is 00:12:19.470 --> 00:12:19.480 align:start position:0% of tighter profit margins uh so is 00:12:19.480 --> 00:12:20.790 align:start position:0% of tighter profit margins uh so is income<00:12:19.800> greater<00:12:20.040> than<00:12:20.240> expenditure<00:12:20.680> I've 00:12:20.790 --> 00:12:20.800 align:start position:0% income greater than expenditure I've 00:12:20.800 --> 00:12:22.590 align:start position:0% income greater than expenditure I've already<00:12:20.959> sort<00:12:21.120> of<00:12:21.199> touched<00:12:21.440> on<00:12:22.160> why<00:12:22.279> it<00:12:22.360> should 00:12:22.590 --> 00:12:22.600 align:start position:0% already sort of touched on why it should 00:12:22.600 --> 00:12:24.590 align:start position:0% already sort of touched on why it should be<00:12:23.000> uh<00:12:23.120> but<00:12:23.279> in<00:12:23.360> general<00:12:23.839> if<00:12:23.959> it's<00:12:24.120> not<00:12:24.360> you<00:12:24.440> can 00:12:24.590 --> 00:12:24.600 align:start position:0% be uh but in general if it's not you can 00:12:24.600 --> 00:12:26.949 align:start position:0% be uh but in general if it's not you can pack<00:12:24.800> your<00:12:25.079> suitcase<00:12:26.079> uh<00:12:26.360> and<00:12:26.480> you<00:12:26.600> can<00:12:26.720> go<00:12:26.800> to 00:12:26.949 --> 00:12:26.959 align:start position:0% pack your suitcase uh and you can go to 00:12:26.959 --> 00:12:28.670 align:start position:0% pack your suitcase uh and you can go to the<00:12:27.440> some<00:12:27.639> other<00:12:27.920> ecosystem<00:12:28.360> some<00:12:28.560> other 00:12:28.670 --> 00:12:28.680 align:start position:0% the some other ecosystem some other 00:12:28.680 --> 00:12:31.590 align:start position:0% the some other ecosystem some other rollup<00:12:29.639> um<00:12:29.839> the<00:12:30.040> proposers<00:12:30.600> is<00:12:30.839> an<00:12:31.000> expectancy 00:12:31.590 --> 00:12:31.600 align:start position:0% rollup um the proposers is an expectancy 00:12:31.600 --> 00:12:34.470 align:start position:0% rollup um the proposers is an expectancy yes<00:12:31.760> it<00:12:31.880> should<00:12:32.079> be<00:12:32.320> right<00:12:32.680> but<00:12:33.079> uh<00:12:34.000> we<00:12:34.120> can<00:12:34.240> see 00:12:34.470 --> 00:12:34.480 align:start position:0% yes it should be right but uh we can see 00:12:34.480 --> 00:12:36.590 align:start position:0% yes it should be right but uh we can see that<00:12:34.639> there<00:12:34.760> is<00:12:35.720> new<00:12:35.880> technology<00:12:36.399> coming 00:12:36.590 --> 00:12:36.600 align:start position:0% that there is new technology coming 00:12:36.600 --> 00:12:37.790 align:start position:0% that there is new technology coming along<00:12:36.880> there's<00:12:37.040> probably<00:12:37.240> going<00:12:37.320> to<00:12:37.399> be<00:12:37.519> more 00:12:37.790 --> 00:12:37.800 align:start position:0% along there's probably going to be more 00:12:37.800 --> 00:12:40.430 align:start position:0% along there's probably going to be more where<00:12:38.519> proposers<00:12:39.000> may<00:12:39.160> not<00:12:39.399> actually<00:12:39.800> H<00:12:40.320> be 00:12:40.430 --> 00:12:40.440 align:start position:0% where proposers may not actually H be 00:12:40.440 --> 00:12:41.629 align:start position:0% where proposers may not actually H be profitable<00:12:40.839> in<00:12:40.920> the<00:12:41.000> short<00:12:41.199> term<00:12:41.440> because 00:12:41.629 --> 00:12:41.639 align:start position:0% profitable in the short term because 00:12:41.639 --> 00:12:42.910 align:start position:0% profitable in the short term because they<00:12:41.760> may<00:12:42.000> commit<00:12:42.240> to<00:12:42.399> offering<00:12:42.720> pre- 00:12:42.910 --> 00:12:42.920 align:start position:0% they may commit to offering pre- 00:12:42.920 --> 00:12:44.269 align:start position:0% they may commit to offering pre- confirmations<00:12:43.399> for<00:12:43.560> example<00:12:44.000> and<00:12:44.079> if<00:12:44.160> you 00:12:44.269 --> 00:12:44.279 align:start position:0% confirmations for example and if you 00:12:44.279 --> 00:12:46.470 align:start position:0% confirmations for example and if you offer<00:12:44.480> a<00:12:44.560> pre-confirmation<00:12:44.920> too<00:12:45.399> cheaply<00:12:46.360> uh 00:12:46.470 --> 00:12:46.480 align:start position:0% offer a pre-confirmation too cheaply uh 00:12:46.480 --> 00:12:48.470 align:start position:0% offer a pre-confirmation too cheaply uh it<00:12:46.600> may<00:12:46.760> be<00:12:47.360> significantly<00:12:47.920> more<00:12:48.120> expensive 00:12:48.470 --> 00:12:48.480 align:start position:0% it may be significantly more expensive 00:12:48.480 --> 00:12:50.910 align:start position:0% it may be significantly more expensive to<00:12:48.600> reneg<00:12:48.959> on<00:12:49.079> that<00:12:49.199> pre-confirmation<00:12:49.920> than 00:12:50.910 --> 00:12:50.920 align:start position:0% to reneg on that pre-confirmation than 00:12:50.920 --> 00:12:52.670 align:start position:0% to reneg on that pre-confirmation than just<00:12:51.120> posting<00:12:51.440> it<00:12:51.560> at<00:12:51.639> a<00:12:51.760> small<00:12:52.040> loss<00:12:52.440> on<00:12:52.560> the 00:12:52.670 --> 00:12:52.680 align:start position:0% just posting it at a small loss on the 00:12:52.680 --> 00:12:55.030 align:start position:0% just posting it at a small loss on the L1<00:12:53.519> the<00:12:53.680> approver<00:12:54.040> in<00:12:54.199> expectancy<00:12:54.639> in<00:12:54.839> long 00:12:55.030 --> 00:12:55.040 align:start position:0% L1 the approver in expectancy in long 00:12:55.040 --> 00:12:57.110 align:start position:0% L1 the approver in expectancy in long term<00:12:55.399> yes<00:12:55.720> but<00:12:55.920> again<00:12:56.600> it<00:12:56.720> may<00:12:56.880> be<00:12:57.000> a 00:12:57.110 --> 00:12:57.120 align:start position:0% term yes but again it may be a 00:12:57.120 --> 00:13:00.310 align:start position:0% term yes but again it may be a substantial<00:12:57.720> cost<00:12:58.160> to<00:12:58.639> to<00:12:58.800> pay<00:12:58.959> for<00:12:59.320> proving 00:13:00.310 --> 00:13:00.320 align:start position:0% substantial cost to to pay for proving 00:13:00.320 --> 00:13:02.230 align:start position:0% substantial cost to to pay for proving uh<00:13:00.440> proving<00:13:00.800> Hardware<00:13:01.399> so<00:13:01.600> the<00:13:01.720> appr<00:13:02.040> must 00:13:02.230 --> 00:13:02.240 align:start position:0% uh proving Hardware so the appr must 00:13:02.240 --> 00:13:03.710 align:start position:0% uh proving Hardware so the appr must invest<00:13:02.720> and<00:13:02.880> see<00:13:03.160> that<00:13:03.279> there<00:13:03.399> is<00:13:03.519> a 00:13:03.710 --> 00:13:03.720 align:start position:0% invest and see that there is a 00:13:03.720 --> 00:13:07.509 align:start position:0% invest and see that there is a substantial<00:13:04.160> chance<00:13:04.440> of<00:13:04.639> of<00:13:05.199> return<00:13:06.199> uh<00:13:07.000> and 00:13:07.509 --> 00:13:07.519 align:start position:0% substantial chance of of return uh and 00:13:07.519 --> 00:13:09.150 align:start position:0% substantial chance of of return uh and the<00:13:07.680> Dow<00:13:08.560> again<00:13:08.680> I<00:13:08.760> mentioned<00:13:09.000> this 00:13:09.150 --> 00:13:09.160 align:start position:0% the Dow again I mentioned this 00:13:09.160 --> 00:13:10.870 align:start position:0% the Dow again I mentioned this investment<00:13:09.519> model<00:13:10.040> uh<00:13:10.240> longterm<00:13:10.600> is<00:13:10.720> not 00:13:10.870 --> 00:13:10.880 align:start position:0% investment model uh longterm is not 00:13:10.880 --> 00:13:13.509 align:start position:0% investment model uh longterm is not sustainable<00:13:11.440> so<00:13:11.800> they<00:13:11.959> need<00:13:12.440> to<00:13:12.600> be<00:13:12.760> investing 00:13:13.509 --> 00:13:13.519 align:start position:0% sustainable so they need to be investing 00:13:13.519 --> 00:13:16.389 align:start position:0% sustainable so they need to be investing in<00:13:14.519> I<00:13:14.680> guess<00:13:15.279> sustainable<00:13:15.760> infrastructure 00:13:16.389 --> 00:13:16.399 align:start position:0% in I guess sustainable infrastructure 00:13:16.399 --> 00:13:18.870 align:start position:0% in I guess sustainable infrastructure for<00:13:16.639> for<00:13:17.120> for<00:13:17.399> these<00:13:17.760> fee<00:13:18.120> mechanisms<00:13:18.720> these 00:13:18.870 --> 00:13:18.880 align:start position:0% for for for these fee mechanisms these 00:13:18.880 --> 00:13:21.990 align:start position:0% for for for these fee mechanisms these proposer<00:13:19.320> fees<00:13:19.720> these<00:13:20.160> uh<00:13:20.480> uh<00:13:20.600> sequencer<00:13:21.079> fees 00:13:21.990 --> 00:13:22.000 align:start position:0% proposer fees these uh uh sequencer fees 00:13:22.000 --> 00:13:23.949 align:start position:0% proposer fees these uh uh sequencer fees and<00:13:22.760> we're<00:13:22.959> yet<00:13:23.199> to<00:13:23.320> see<00:13:23.560> what<00:13:23.720> that's<00:13:23.839> going 00:13:23.949 --> 00:13:23.959 align:start position:0% and we're yet to see what that's going 00:13:23.959 --> 00:13:25.230 align:start position:0% and we're yet to see what that's going to<00:13:24.079> look<00:13:24.240> like<00:13:24.680> uh<00:13:24.800> but<00:13:24.880> it's<00:13:25.000> definitely 00:13:25.230 --> 00:13:25.240 align:start position:0% to look like uh but it's definitely 00:13:25.240 --> 00:13:26.629 align:start position:0% to look like uh but it's definitely going<00:13:25.320> to<00:13:25.399> be<00:13:25.480> very<00:13:25.639> interesting<00:13:26.040> if<00:13:26.279> if<00:13:26.480> the 00:13:26.629 --> 00:13:26.639 align:start position:0% going to be very interesting if if the 00:13:26.639 --> 00:13:28.670 align:start position:0% going to be very interesting if if the if<00:13:26.760> the<00:13:26.839> de<00:13:27.040> can<00:13:27.160> actually<00:13:27.360> recuperate<00:13:27.920> those 00:13:28.670 --> 00:13:28.680 align:start position:0% if the de can actually recuperate those 00:13:28.680 --> 00:13:30.470 align:start position:0% if the de can actually recuperate those uh<00:13:28.839> costs 00:13:30.470 --> 00:13:30.480 align:start position:0% uh costs 00:13:30.480 --> 00:13:31.949 align:start position:0% uh costs uh<00:13:30.800> okay 00:13:31.949 --> 00:13:31.959 align:start position:0% uh okay 00:13:31.959 --> 00:13:33.910 align:start position:0% uh okay so<00:13:32.959> the<00:13:33.279> the<00:13:33.360> costs<00:13:33.600> right<00:13:33.720> now<00:13:33.800> are 00:13:33.910 --> 00:13:33.920 align:start position:0% so the the costs right now are 00:13:33.920 --> 00:13:36.829 align:start position:0% so the the costs right now are relatively<00:13:34.279> straightforward<00:13:35.279> uh<00:13:35.639> but<00:13:36.639> our 00:13:36.829 --> 00:13:36.839 align:start position:0% relatively straightforward uh but our 00:13:36.839 --> 00:13:39.069 align:start position:0% relatively straightforward uh but our hope<00:13:37.680> considering<00:13:38.160> the<00:13:38.360> sort<00:13:38.519> of<00:13:38.680> the<00:13:38.920> the 00:13:39.069 --> 00:13:39.079 align:start position:0% hope considering the sort of the the 00:13:39.079 --> 00:13:41.870 align:start position:0% hope considering the sort of the the type<00:13:39.320> profit<00:13:39.560> margin<00:13:39.839> from<00:13:40.079> Tao<00:13:41.079> uh<00:13:41.560> is<00:13:41.720> that 00:13:41.870 --> 00:13:41.880 align:start position:0% type profit margin from Tao uh is that 00:13:41.880 --> 00:13:43.430 align:start position:0% type profit margin from Tao uh is that these<00:13:42.000> will<00:13:42.160> change<00:13:42.519> right<00:13:42.639> so<00:13:42.800> I<00:13:43.000> I<00:13:43.120> quote 00:13:43.430 --> 00:13:43.440 align:start position:0% these will change right so I I quote 00:13:43.440 --> 00:13:47.069 align:start position:0% these will change right so I I quote this<00:13:44.079> uh<00:13:44.680> sort<00:13:44.880> of<00:13:45.560> ancient<00:13:45.920> philosopher<00:13:46.680> or 00:13:47.069 --> 00:13:47.079 align:start position:0% this uh sort of ancient philosopher or 00:13:47.079 --> 00:13:49.310 align:start position:0% this uh sort of ancient philosopher or alter<00:13:47.360> eego<00:13:47.639> philosopher<00:13:48.440> uh<00:13:48.639> who<00:13:48.760> says<00:13:49.079> based 00:13:49.310 --> 00:13:49.320 align:start position:0% alter eego philosopher uh who says based 00:13:49.320 --> 00:13:51.350 align:start position:0% alter eego philosopher uh who says based income<00:13:49.560> and<00:13:49.720> expenditure<00:13:50.160> is<00:13:50.279> always<00:13:50.440> in<00:13:50.560> flux 00:13:51.350 --> 00:13:51.360 align:start position:0% income and expenditure is always in flux 00:13:51.360 --> 00:13:52.910 align:start position:0% income and expenditure is always in flux you<00:13:51.519> can't<00:13:51.720> step<00:13:51.959> into<00:13:52.160> the<00:13:52.240> same<00:13:52.519> B<00:13:52.720> based 00:13:52.910 --> 00:13:52.920 align:start position:0% you can't step into the same B based 00:13:52.920 --> 00:13:56.110 align:start position:0% you can't step into the same B based Revenue<00:13:53.320> model<00:13:53.800> twice<00:13:54.800> uh<00:13:54.959> what<00:13:55.079> that<00:13:55.240> means 00:13:56.110 --> 00:13:56.120 align:start position:0% Revenue model twice uh what that means 00:13:56.120 --> 00:13:58.430 align:start position:0% Revenue model twice uh what that means is<00:13:56.440> that<00:13:57.120> depending<00:13:57.440> on<00:13:57.560> the<00:13:57.759> day<00:13:58.120> like<00:13:58.279> as 00:13:58.430 --> 00:13:58.440 align:start position:0% is that depending on the day like as 00:13:58.440 --> 00:14:00.430 align:start position:0% is that depending on the day like as obviously<00:13:58.720> today<00:13:59.320> every<00:14:00.040> when<00:14:00.120> I<00:14:00.199> go<00:14:00.279> to<00:14:00.360> the 00:14:00.430 --> 00:14:00.440 align:start position:0% obviously today every when I go to the 00:14:00.440 --> 00:14:01.949 align:start position:0% obviously today every when I go to the toilet<00:14:00.680> I<00:14:00.759> hear<00:14:00.880> people<00:14:01.079> talking<00:14:01.320> about<00:14:01.600> how 00:14:01.949 --> 00:14:01.959 align:start position:0% toilet I hear people talking about how 00:14:01.959 --> 00:14:03.990 align:start position:0% toilet I hear people talking about how what<00:14:02.040> the<00:14:02.120> markets<00:14:02.399> are<00:14:02.519> doing<00:14:03.199> like<00:14:03.680> revenue 00:14:03.990 --> 00:14:04.000 align:start position:0% what the markets are doing like revenue 00:14:04.000 --> 00:14:05.389 align:start position:0% what the markets are doing like revenue is<00:14:04.120> changing<00:14:04.399> all<00:14:04.519> the<00:14:04.639> time<00:14:04.920> right<00:14:05.079> the<00:14:05.160> fees 00:14:05.389 --> 00:14:05.399 align:start position:0% is changing all the time right the fees 00:14:05.399 --> 00:14:07.230 align:start position:0% is changing all the time right the fees are<00:14:05.519> changing<00:14:05.839> all<00:14:05.959> the<00:14:06.120> time<00:14:06.759> uh<00:14:06.880> but<00:14:07.000> also 00:14:07.230 --> 00:14:07.240 align:start position:0% are changing all the time uh but also 00:14:07.240 --> 00:14:08.749 align:start position:0% are changing all the time uh but also the<00:14:07.360> technology<00:14:07.759> changing<00:14:08.000> all<00:14:08.120> the<00:14:08.240> time<00:14:08.519> so 00:14:08.749 --> 00:14:08.759 align:start position:0% the technology changing all the time so 00:14:08.759 --> 00:14:09.829 align:start position:0% the technology changing all the time so when<00:14:08.839> we<00:14:08.959> think<00:14:09.120> about<00:14:09.240> the<00:14:09.320> based<00:14:09.519> Revenue 00:14:09.829 --> 00:14:09.839 align:start position:0% when we think about the based Revenue 00:14:09.839 --> 00:14:12.030 align:start position:0% when we think about the based Revenue model<00:14:10.360> we<00:14:10.480> need<00:14:10.600> to<00:14:10.720> have<00:14:10.800> a<00:14:10.959> Dynamics<00:14:11.800> way<00:14:11.920> a 00:14:12.030 --> 00:14:12.040 align:start position:0% model we need to have a Dynamics way a 00:14:12.040 --> 00:14:13.150 align:start position:0% model we need to have a Dynamics way a framework<00:14:12.399> for<00:14:12.560> thinking<00:14:12.759> about<00:14:12.959> these 00:14:13.150 --> 00:14:13.160 align:start position:0% framework for thinking about these 00:14:13.160 --> 00:14:14.670 align:start position:0% framework for thinking about these things<00:14:13.680> uh<00:14:13.800> and<00:14:13.920> that's<00:14:14.120> what<00:14:14.199> sort<00:14:14.360> of<00:14:14.480> be<00:14:14.600> the 00:14:14.670 --> 00:14:14.680 align:start position:0% things uh and that's what sort of be the 00:14:14.680 --> 00:14:17.670 align:start position:0% things uh and that's what sort of be the focus<00:14:15.120> next<00:14:16.120> uh<00:14:16.240> so<00:14:17.079> here<00:14:17.199> are<00:14:17.320> some<00:14:17.440> of<00:14:17.519> the 00:14:17.670 --> 00:14:17.680 align:start position:0% focus next uh so here are some of the 00:14:17.680 --> 00:14:19.350 align:start position:0% focus next uh so here are some of the big<00:14:18.000> big<00:14:18.120> changes<00:14:18.440> that<00:14:18.600> base<00:14:18.839> Revenue<00:14:19.120> that<00:14:19.240> I 00:14:19.350 --> 00:14:19.360 align:start position:0% big big changes that base Revenue that I 00:14:19.360 --> 00:14:21.189 align:start position:0% big big changes that base Revenue that I expect<00:14:19.600> to<00:14:19.680> see<00:14:19.920> in<00:14:20.040> the<00:14:20.199> future<00:14:20.759> in<00:14:20.880> the<00:14:20.959> near 00:14:21.189 --> 00:14:21.199 align:start position:0% expect to see in the future in the near 00:14:21.199 --> 00:14:22.949 align:start position:0% expect to see in the future in the near future<00:14:21.759> uh<00:14:21.880> we're<00:14:21.959> going<00:14:22.079> to<00:14:22.160> see<00:14:22.279> cheaper<00:14:22.560> L1 00:14:22.949 --> 00:14:22.959 align:start position:0% future uh we're going to see cheaper L1 00:14:22.959 --> 00:14:25.269 align:start position:0% future uh we're going to see cheaper L1 costs<00:14:23.759> uh<00:14:24.000> we're<00:14:24.160> going<00:14:24.240> to<00:14:24.360> see<00:14:24.920> proven 00:14:25.269 --> 00:14:25.279 align:start position:0% costs uh we're going to see proven 00:14:25.279 --> 00:14:27.230 align:start position:0% costs uh we're going to see proven becoming<00:14:25.600> more<00:14:25.880> efficient<00:14:26.880> we're<00:14:27.000> going<00:14:27.120> to 00:14:27.230 --> 00:14:27.240 align:start position:0% becoming more efficient we're going to 00:14:27.240 --> 00:14:30.470 align:start position:0% becoming more efficient we're going to see<00:14:27.480> Pro<00:14:27.800> and<00:14:27.920> Builder<00:14:28.240> markets<00:14:28.759> m<00:14:29.279> in<00:14:29.800> uh<00:14:29.959> so<00:14:30.360> a 00:14:30.470 --> 00:14:30.480 align:start position:0% see Pro and Builder markets m in uh so a 00:14:30.480 --> 00:14:33.990 align:start position:0% see Pro and Builder markets m in uh so a lot<00:14:30.600> of<00:14:31.199> l2s<00:14:31.800> Bas<00:14:32.040> rops<00:14:32.600> uh<00:14:32.720> will<00:14:33.680> have<00:14:33.839> run 00:14:33.990 --> 00:14:34.000 align:start position:0% lot of l2s Bas rops uh will have run 00:14:34.000 --> 00:14:36.030 align:start position:0% lot of l2s Bas rops uh will have run their<00:14:34.120> own<00:14:34.240> PR<00:14:34.959> uh<00:14:35.120> but<00:14:35.240> we<00:14:35.360> are<00:14:35.680> there<00:14:35.880> there's 00:14:36.030 --> 00:14:36.040 align:start position:0% their own PR uh but we are there there's 00:14:36.040 --> 00:14:38.590 align:start position:0% their own PR uh but we are there there's Whisperers<00:14:36.519> about<00:14:36.800> Prov<00:14:37.199> markets<00:14:37.959> uh<00:14:38.160> and<00:14:38.360> and 00:14:38.590 --> 00:14:38.600 align:start position:0% Whisperers about Prov markets uh and and 00:14:38.600 --> 00:14:40.030 align:start position:0% Whisperers about Prov markets uh and and potentially<00:14:38.920> also<00:14:39.079> Builder<00:14:39.440> markets<00:14:39.880> right 00:14:40.030 --> 00:14:40.040 align:start position:0% potentially also Builder markets right 00:14:40.040 --> 00:14:43.470 align:start position:0% potentially also Builder markets right so<00:14:40.720> Builders<00:14:41.120> and<00:14:41.440> L1<00:14:42.440> are<00:14:42.639> generating 00:14:43.470 --> 00:14:43.480 align:start position:0% so Builders and L1 are generating 00:14:43.480 --> 00:14:45.670 align:start position:0% so Builders and L1 are generating generating<00:14:43.839> revenue<00:14:44.160> for<00:14:44.399> the<00:14:44.839> uh<00:14:45.360> for<00:14:45.519> the 00:14:45.670 --> 00:14:45.680 align:start position:0% generating revenue for the uh for the 00:14:45.680 --> 00:14:46.990 align:start position:0% generating revenue for the uh for the proposers<00:14:46.240> and<00:14:46.360> that's<00:14:46.560> probably<00:14:46.800> going<00:14:46.880> to 00:14:46.990 --> 00:14:47.000 align:start position:0% proposers and that's probably going to 00:14:47.000 --> 00:14:48.790 align:start position:0% proposers and that's probably going to happen<00:14:47.199> as<00:14:47.279> well<00:14:47.639> on<00:14:47.720> Bas<00:14:47.920> rollups<00:14:48.279> as<00:14:48.399> well<00:14:48.680> uh 00:14:48.790 --> 00:14:48.800 align:start position:0% happen as well on Bas rollups as well uh 00:14:48.800 --> 00:14:50.269 align:start position:0% happen as well on Bas rollups as well uh so<00:14:49.320> that's<00:14:49.480> going<00:14:49.560> to<00:14:49.639> be<00:14:49.720> an<00:14:49.800> income<00:14:50.040> source 00:14:50.269 --> 00:14:50.279 align:start position:0% so that's going to be an income source 00:14:50.279 --> 00:14:52.870 align:start position:0% so that's going to be an income source for<00:14:50.720> proposers<00:14:51.720> uh<00:14:51.959> and<00:14:52.079> shared<00:14:52.480> everything 00:14:52.870 --> 00:14:52.880 align:start position:0% for proposers uh and shared everything 00:14:52.880 --> 00:14:54.550 align:start position:0% for proposers uh and shared everything okay<00:14:53.079> so<00:14:53.199> I<00:14:53.279> mentioned<00:14:53.519> this<00:14:53.800> composition<00:14:54.440> but 00:14:54.550 --> 00:14:54.560 align:start position:0% okay so I mentioned this composition but 00:14:54.560 --> 00:14:55.710 align:start position:0% okay so I mentioned this composition but it's<00:14:54.839> it's<00:14:54.959> definitely<00:14:55.199> going<00:14:55.320> to<00:14:55.440> be<00:14:55.560> a 00:14:55.710 --> 00:14:55.720 align:start position:0% it's it's definitely going to be a 00:14:55.720 --> 00:14:57.790 align:start position:0% it's it's definitely going to be a significant<00:14:56.279> area<00:14:56.800> H<00:14:56.920> for<00:14:57.120> income<00:14:57.560> and 00:14:57.790 --> 00:14:57.800 align:start position:0% significant area H for income and 00:14:57.800 --> 00:15:01.189 align:start position:0% significant area H for income and reduced<00:14:58.240> expenditure<00:14:59.040> so<00:14:59.759> with<00:15:00.040> a<00:15:00.120> Shar<00:15:00.519> with 00:15:01.189 --> 00:15:01.199 align:start position:0% reduced expenditure so with a Shar with 00:15:01.199 --> 00:15:04.230 align:start position:0% reduced expenditure so with a Shar with with<00:15:01.360> shared<00:15:02.160> uh<00:15:03.000> resources<00:15:03.600> or<00:15:03.839> shared<00:15:04.120> like 00:15:04.230 --> 00:15:04.240 align:start position:0% with shared uh resources or shared like 00:15:04.240 --> 00:15:06.189 align:start position:0% with shared uh resources or shared like shared<00:15:04.480> blog<00:15:04.720> space<00:15:05.079> shared<00:15:05.440> proving<00:15:06.040> we're 00:15:06.189 --> 00:15:06.199 align:start position:0% shared blog space shared proving we're 00:15:06.199 --> 00:15:07.470 align:start position:0% shared blog space shared proving we're going<00:15:06.320> to<00:15:06.399> get<00:15:06.519> bigger<00:15:06.720> Network<00:15:07.040> effects 00:15:07.470 --> 00:15:07.480 align:start position:0% going to get bigger Network effects 00:15:07.480 --> 00:15:09.430 align:start position:0% going to get bigger Network effects we're<00:15:07.600> going<00:15:07.720> to<00:15:07.880> get<00:15:08.240> better<00:15:08.519> utilization<00:15:09.199> of 00:15:09.430 --> 00:15:09.440 align:start position:0% we're going to get better utilization of 00:15:09.440 --> 00:15:12.550 align:start position:0% we're going to get better utilization of of<00:15:09.680> of<00:15:09.839> the<00:15:10.040> resources<00:15:10.480> that<00:15:10.560> we're<00:15:10.680> using<00:15:11.600> um 00:15:12.550 --> 00:15:12.560 align:start position:0% of of the resources that we're using um 00:15:12.560 --> 00:15:14.230 align:start position:0% of of the resources that we're using um but<00:15:12.720> we<00:15:12.800> may<00:15:12.959> also<00:15:13.199> have<00:15:13.360> higher<00:15:13.639> costs<00:15:14.040> right 00:15:14.230 --> 00:15:14.240 align:start position:0% but we may also have higher costs right 00:15:14.240 --> 00:15:15.670 align:start position:0% but we may also have higher costs right so<00:15:14.639> how<00:15:14.800> are<00:15:14.839> we<00:15:15.000> going<00:15:15.079> to<00:15:15.199> balance<00:15:15.519> these 00:15:15.670 --> 00:15:15.680 align:start position:0% so how are we going to balance these 00:15:15.680 --> 00:15:18.230 align:start position:0% so how are we going to balance these things<00:15:16.440> it's<00:15:16.560> going<00:15:16.639> to<00:15:16.720> be<00:15:16.839> very<00:15:17.240> interesting 00:15:18.230 --> 00:15:18.240 align:start position:0% things it's going to be very interesting 00:15:18.240 --> 00:15:19.749 align:start position:0% things it's going to be very interesting so<00:15:18.480> let's<00:15:18.639> go<00:15:18.759> through<00:15:18.959> each<00:15:19.120> one<00:15:19.279> in<00:15:19.519> a<00:15:19.600> little 00:15:19.749 --> 00:15:19.759 align:start position:0% so let's go through each one in a little 00:15:19.759 --> 00:15:20.990 align:start position:0% so let's go through each one in a little bit<00:15:19.880> of<00:15:20.040> detail<00:15:20.360> I'm<00:15:20.480> I'm<00:15:20.560> running<00:15:20.759> out<00:15:20.839> of 00:15:20.990 --> 00:15:21.000 align:start position:0% bit of detail I'm I'm running out of 00:15:21.000 --> 00:15:24.870 align:start position:0% bit of detail I'm I'm running out of time<00:15:21.639> uh<00:15:22.160> okay<00:15:22.320> so<00:15:22.480> cheaper<00:15:22.720> L1<00:15:23.199> costs<00:15:23.639> right 00:15:24.870 --> 00:15:24.880 align:start position:0% time uh okay so cheaper L1 costs right 00:15:24.880 --> 00:15:28.069 align:start position:0% time uh okay so cheaper L1 costs right so<00:15:25.880> EAP<00:15:26.519> 4844<00:15:27.480> was<00:15:27.680> relatively 00:15:28.069 --> 00:15:28.079 align:start position:0% so EAP 4844 was relatively 00:15:28.079 --> 00:15:29.590 align:start position:0% so EAP 4844 was relatively straightforward<00:15:28.680> you<00:15:28.800> just<00:15:29.079> have<00:15:29.240> this<00:15:29.399> sort 00:15:29.590 --> 00:15:29.600 align:start position:0% straightforward you just have this sort 00:15:29.600 --> 00:15:32.829 align:start position:0% straightforward you just have this sort of<00:15:30.040> uh<00:15:30.839> sort<00:15:31.079> of<00:15:31.519> temporary<00:15:32.440> data<00:15:32.680> that's 00:15:32.829 --> 00:15:32.839 align:start position:0% of uh sort of temporary data that's 00:15:32.839 --> 00:15:35.670 align:start position:0% of uh sort of temporary data that's being<00:15:32.959> posted<00:15:33.240> to<00:15:33.639> L1<00:15:34.639> and<00:15:35.040> it<00:15:35.360> makes<00:15:35.600> it 00:15:35.670 --> 00:15:35.680 align:start position:0% being posted to L1 and it makes it 00:15:35.680 --> 00:15:38.550 align:start position:0% being posted to L1 and it makes it cheaper<00:15:35.920> for<00:15:36.079> l2s<00:15:36.480> to<00:15:36.600> post<00:15:37.079> uh<00:15:37.560> data<00:15:37.839> to<00:15:38.360> data 00:15:38.550 --> 00:15:38.560 align:start position:0% cheaper for l2s to post uh data to data 00:15:38.560 --> 00:15:41.030 align:start position:0% cheaper for l2s to post uh data to data to<00:15:38.720> L<00:15:38.880> one<00:15:39.759> and<00:15:39.880> then<00:15:40.040> we're<00:15:40.160> seeing<00:15:40.560> proposals 00:15:41.030 --> 00:15:41.040 align:start position:0% to L one and then we're seeing proposals 00:15:41.040 --> 00:15:43.150 align:start position:0% to L one and then we're seeing proposals like<00:15:41.279> pieras<00:15:42.279> I<00:15:42.360> don't<00:15:42.560> really<00:15:42.720> know<00:15:42.880> what<00:15:43.000> it 00:15:43.150 --> 00:15:43.160 align:start position:0% like pieras I don't really know what it 00:15:43.160 --> 00:15:44.949 align:start position:0% like pieras I don't really know what it is<00:15:43.759> uh<00:15:43.920> but<00:15:44.040> I<00:15:44.120> hear<00:15:44.279> it's<00:15:44.399> going<00:15:44.480> to<00:15:44.600> reduce 00:15:44.949 --> 00:15:44.959 align:start position:0% is uh but I hear it's going to reduce 00:15:44.959 --> 00:15:47.629 align:start position:0% is uh but I hear it's going to reduce cost<00:15:45.240> significantly<00:15:46.160> uh<00:15:46.480> but<00:15:46.639> it's<00:15:47.160> uses<00:15:47.480> some 00:15:47.629 --> 00:15:47.639 align:start position:0% cost significantly uh but it's uses some 00:15:47.639 --> 00:15:49.309 align:start position:0% cost significantly uh but it's uses some pretty<00:15:47.839> significant<00:15:48.319> sampling<00:15:48.839> or<00:15:49.120> pretty 00:15:49.309 --> 00:15:49.319 align:start position:0% pretty significant sampling or pretty 00:15:49.319 --> 00:15:51.550 align:start position:0% pretty significant sampling or pretty pretty<00:15:49.560> high-tech<00:15:49.959> sampling<00:15:50.560> uh<00:15:50.680> procedures 00:15:51.550 --> 00:15:51.560 align:start position:0% pretty high-tech sampling uh procedures 00:15:51.560 --> 00:15:53.309 align:start position:0% pretty high-tech sampling uh procedures you<00:15:51.639> can<00:15:51.759> check<00:15:51.920> out<00:15:52.160> balic<00:15:52.680> recent<00:15:52.959> blog<00:15:53.120> post 00:15:53.309 --> 00:15:53.319 align:start position:0% you can check out balic recent blog post 00:15:53.319 --> 00:15:56.309 align:start position:0% you can check out balic recent blog post for<00:15:53.440> more<00:15:53.839> information<00:15:54.839> um<00:15:55.720> zika<00:15:56.040> proofs 00:15:56.309 --> 00:15:56.319 align:start position:0% for more information um zika proofs 00:15:56.319 --> 00:15:59.069 align:start position:0% for more information um zika proofs becoming<00:15:56.560> more<00:15:56.759> efficient<00:15:57.399> this<00:15:57.519> is<00:15:57.600> a<00:15:57.759> bet<00:15:58.600> uh 00:15:59.069 --> 00:15:59.079 align:start position:0% becoming more efficient this is a bet uh 00:15:59.079 --> 00:16:01.629 align:start position:0% becoming more efficient this is a bet uh I<00:15:59.279> I<00:15:59.519> can't<00:15:59.759> speak<00:16:00.199> for<00:16:00.920> uh<00:16:01.120> from<00:16:01.360> personal 00:16:01.629 --> 00:16:01.639 align:start position:0% I I can't speak for uh from personal 00:16:01.639 --> 00:16:02.910 align:start position:0% I I can't speak for uh from personal experience<00:16:01.959> with<00:16:02.040> e<00:16:02.279> proofs<00:16:02.560> I<00:16:02.639> don't<00:16:02.800> have 00:16:02.910 --> 00:16:02.920 align:start position:0% experience with e proofs I don't have 00:16:02.920 --> 00:16:04.990 align:start position:0% experience with e proofs I don't have any<00:16:03.800> uh 00:16:04.990 --> 00:16:05.000 align:start position:0% any uh 00:16:05.000 --> 00:16:07.550 align:start position:0% any uh but<00:16:06.000> again<00:16:06.560> we're<00:16:07.000> constantly<00:16:07.319> seeing 00:16:07.550 --> 00:16:07.560 align:start position:0% but again we're constantly seeing 00:16:07.560 --> 00:16:09.550 align:start position:0% but again we're constantly seeing cheaper<00:16:07.959> uh<00:16:08.079> improved<00:16:08.680> uh<00:16:08.959> cheaper<00:16:09.319> proof 00:16:09.550 --> 00:16:09.560 align:start position:0% cheaper uh improved uh cheaper proof 00:16:09.560 --> 00:16:10.990 align:start position:0% cheaper uh improved uh cheaper proof generation<00:16:10.160> and<00:16:10.360> cheaper<00:16:10.639> proof 00:16:10.990 --> 00:16:11.000 align:start position:0% generation and cheaper proof 00:16:11.000 --> 00:16:13.550 align:start position:0% generation and cheaper proof verification<00:16:12.000> uh<00:16:12.120> we're<00:16:12.399> also<00:16:12.600> seeing 00:16:13.550 --> 00:16:13.560 align:start position:0% verification uh we're also seeing 00:16:13.560 --> 00:16:16.309 align:start position:0% verification uh we're also seeing increasingly<00:16:14.560> bad<00:16:15.279> naming<00:16:15.560> terminology<00:16:16.160> but 00:16:16.309 --> 00:16:16.319 align:start position:0% increasingly bad naming terminology but 00:16:16.319 --> 00:16:17.269 align:start position:0% increasingly bad naming terminology but again<00:16:16.560> it<00:16:16.639> looks<00:16:16.800> like<00:16:16.920> they're<00:16:17.040> getting 00:16:17.269 --> 00:16:17.279 align:start position:0% again it looks like they're getting 00:16:17.279 --> 00:16:19.590 align:start position:0% again it looks like they're getting better<00:16:17.560> so<00:16:18.440> the<00:16:18.519> worse<00:16:18.720> the<00:16:18.839> names<00:16:19.160> get<00:16:19.480> the 00:16:19.590 --> 00:16:19.600 align:start position:0% better so the worse the names get the 00:16:19.600 --> 00:16:21.269 align:start position:0% better so the worse the names get the better<00:16:19.839> we're<00:16:20.000> going<00:16:20.120> to<00:16:20.240> see<00:16:20.480> these<00:16:20.680> proofs 00:16:21.269 --> 00:16:21.279 align:start position:0% better we're going to see these proofs 00:16:21.279 --> 00:16:23.230 align:start position:0% better we're going to see these proofs uh<00:16:21.440> becoming<00:16:22.199> and<00:16:22.279> we're<00:16:22.440> seeing<00:16:22.720> also<00:16:23.120> more 00:16:23.230 --> 00:16:23.240 align:start position:0% uh becoming and we're seeing also more 00:16:23.240 --> 00:16:24.870 align:start position:0% uh becoming and we're seeing also more and<00:16:23.360> more<00:16:23.639> investment<00:16:24.079> more<00:16:24.199> and<00:16:24.279> more<00:16:24.440> teams 00:16:24.870 --> 00:16:24.880 align:start position:0% and more investment more and more teams 00:16:24.880 --> 00:16:27.629 align:start position:0% and more investment more and more teams at<00:16:25.560> deploying<00:16:25.959> people<00:16:26.199> to<00:16:26.399> ZK<00:16:26.880> so<00:16:27.199> I<00:16:27.319> expect 00:16:27.629 --> 00:16:27.639 align:start position:0% at deploying people to ZK so I expect 00:16:27.639 --> 00:16:30.430 align:start position:0% at deploying people to ZK so I expect this<00:16:27.839> to<00:16:28.040> to<00:16:28.199> continue<00:16:29.279> uh<00:16:29.639> a<00:16:29.800> mark<00:16:30.120> a<00:16:30.199> marker 00:16:30.430 --> 00:16:30.440 align:start position:0% this to to continue uh a mark a marker 00:16:30.440 --> 00:16:31.829 align:start position:0% this to to continue uh a mark a marker that<00:16:30.560> I<00:16:30.639> saw<00:16:30.800> this<00:16:30.920> morning<00:16:31.240> but<00:16:31.440> again<00:16:31.639> it's 00:16:31.829 --> 00:16:31.839 align:start position:0% that I saw this morning but again it's 00:16:31.839 --> 00:16:32.910 align:start position:0% that I saw this morning but again it's been<00:16:31.959> it's<00:16:32.079> been<00:16:32.199> taken<00:16:32.440> down<00:16:32.639> no<00:16:32.759> one's 00:16:32.910 --> 00:16:32.920 align:start position:0% been it's been taken down no one's 00:16:32.920 --> 00:16:36.389 align:start position:0% been it's been taken down no one's trading<00:16:33.160> on<00:16:33.319> this<00:16:33.480> thing<00:16:34.360> um<00:16:35.360> so<00:16:35.920> the<00:16:36.120> prover 00:16:36.389 --> 00:16:36.399 align:start position:0% trading on this thing um so the prover 00:16:36.399 --> 00:16:37.870 align:start position:0% trading on this thing um so the prover and<00:16:36.560> Builder<00:16:36.880> Market<00:16:37.079> maturing<00:16:37.560> I<00:16:37.639> mentioned 00:16:37.870 --> 00:16:37.880 align:start position:0% and Builder Market maturing I mentioned 00:16:37.880 --> 00:16:41.269 align:start position:0% and Builder Market maturing I mentioned this<00:16:38.160> already<00:16:39.160> um<00:16:39.800> so<00:16:40.040> Uncle<00:16:40.360> Ben<00:16:40.759> mentions 00:16:41.269 --> 00:16:41.279 align:start position:0% this already um so Uncle Ben mentions 00:16:41.279 --> 00:16:42.870 align:start position:0% this already um so Uncle Ben mentions that<00:16:41.440> with<00:16:41.639> gra<00:16:41.920> competition<00:16:42.519> comes 00:16:42.870 --> 00:16:42.880 align:start position:0% that with gra competition comes 00:16:42.880 --> 00:16:44.350 align:start position:0% that with gra competition comes efficient<00:16:43.279> pricing<00:16:43.600> and 00:16:44.350 --> 00:16:44.360 align:start position:0% efficient pricing and 00:16:44.360 --> 00:16:46.590 align:start position:0% efficient pricing and Innovation<00:16:45.360> and<00:16:45.800> again<00:16:46.240> that's<00:16:46.360> just<00:16:46.519> what 00:16:46.590 --> 00:16:46.600 align:start position:0% Innovation and again that's just what 00:16:46.600 --> 00:16:47.910 align:start position:0% Innovation and again that's just what we're<00:16:46.720> seeing<00:16:46.920> on<00:16:47.040> L1<00:16:47.399> and<00:16:47.519> that<00:16:47.600> we<00:16:47.720> expect 00:16:47.910 --> 00:16:47.920 align:start position:0% we're seeing on L1 and that we expect 00:16:47.920 --> 00:16:50.189 align:start position:0% we're seeing on L1 and that we expect that<00:16:48.000> to<00:16:48.120> see<00:16:48.240> that<00:16:48.319> in<00:16:48.399> L2<00:16:48.759> as<00:16:48.880> well<00:16:49.880> uh<00:16:50.000> so 00:16:50.189 --> 00:16:50.199 align:start position:0% that to see that in L2 as well uh so 00:16:50.199 --> 00:16:52.309 align:start position:0% that to see that in L2 as well uh so proof<00:16:50.399> of<00:16:50.560> competition<00:16:51.319> user<00:16:51.680> and<00:16:51.800> sequencers 00:16:52.309 --> 00:16:52.319 align:start position:0% proof of competition user and sequencers 00:16:52.319 --> 00:16:55.710 align:start position:0% proof of competition user and sequencers have<00:16:52.399> to<00:16:52.480> pay<00:16:52.639> less<00:16:53.240> less<00:16:53.519> fees<00:16:54.560> um<00:16:55.560> and 00:16:55.710 --> 00:16:55.720 align:start position:0% have to pay less less fees um and 00:16:55.720 --> 00:16:57.069 align:start position:0% have to pay less less fees um and Builder<00:16:56.079> competition<00:16:56.639> we're<00:16:56.759> going<00:16:56.880> to<00:16:56.920> get 00:16:57.069 --> 00:16:57.079 align:start position:0% Builder competition we're going to get 00:16:57.079 --> 00:16:58.389 align:start position:0% Builder competition we're going to get better<00:16:57.240> ux<00:16:57.560> through<00:16:57.759> more<00:16:57.920> efficient<00:16:58.199> block 00:16:58.389 --> 00:16:58.399 align:start position:0% better ux through more efficient block 00:16:58.399 --> 00:17:00.269 align:start position:0% better ux through more efficient block building<00:16:59.120> and<00:16:59.399> sequencers<00:16:59.839> are<00:16:59.920> going<00:17:00.040> to<00:17:00.160> get 00:17:00.269 --> 00:17:00.279 align:start position:0% building and sequencers are going to get 00:17:00.279 --> 00:17:01.550 align:start position:0% building and sequencers are going to get higher 00:17:01.550 --> 00:17:01.560 align:start position:0% higher 00:17:01.560 --> 00:17:03.870 align:start position:0% higher fees<00:17:02.560> um<00:17:02.800> and<00:17:02.880> then<00:17:03.000> shared<00:17:03.319> everything<00:17:03.680> right 00:17:03.870 --> 00:17:03.880 align:start position:0% fees um and then shared everything right 00:17:03.880 --> 00:17:06.390 align:start position:0% fees um and then shared everything right so<00:17:04.240> with<00:17:04.480> shared<00:17:04.760> sequencing<00:17:05.240> comes<00:17:05.439> more<00:17:05.600> mbv 00:17:06.390 --> 00:17:06.400 align:start position:0% so with shared sequencing comes more mbv 00:17:06.400 --> 00:17:08.870 align:start position:0% so with shared sequencing comes more mbv more<00:17:06.600> users<00:17:07.319> we're<00:17:07.439> going<00:17:07.559> to<00:17:07.640> get<00:17:08.199> uh<00:17:08.360> better 00:17:08.870 --> 00:17:08.880 align:start position:0% more users we're going to get uh better 00:17:08.880 --> 00:17:10.150 align:start position:0% more users we're going to get uh better higher<00:17:09.079> fees<00:17:09.559> we're<00:17:09.640> going<00:17:09.760> to<00:17:09.839> be<00:17:09.919> able<00:17:10.079> to 00:17:10.150 --> 00:17:10.160 align:start position:0% higher fees we're going to be able to 00:17:10.160 --> 00:17:11.429 align:start position:0% higher fees we're going to be able to charge<00:17:10.400> higher<00:17:10.600> fees<00:17:10.919> right<00:17:11.039> so<00:17:11.199> this<00:17:11.280> is 00:17:11.429 --> 00:17:11.439 align:start position:0% charge higher fees right so this is 00:17:11.439 --> 00:17:13.710 align:start position:0% charge higher fees right so this is again<00:17:11.679> increasing<00:17:12.079> the<00:17:12.360> income<00:17:12.760> of<00:17:13.000> of<00:17:13.199> the 00:17:13.710 --> 00:17:13.720 align:start position:0% again increasing the income of of the 00:17:13.720 --> 00:17:17.350 align:start position:0% again increasing the income of of the the<00:17:13.880> providers<00:17:14.280> in<00:17:14.400> our<00:17:14.959> system<00:17:16.000> uh<00:17:17.000> share 00:17:17.350 --> 00:17:17.360 align:start position:0% the providers in our system uh share 00:17:17.360 --> 00:17:19.710 align:start position:0% the providers in our system uh share blobs<00:17:17.799> so<00:17:18.000> right<00:17:18.160> now<00:17:18.280> Tao<00:17:19.079> is<00:17:19.360> is<00:17:19.480> creating 00:17:19.710 --> 00:17:19.720 align:start position:0% blobs so right now Tao is is creating 00:17:19.720 --> 00:17:21.390 align:start position:0% blobs so right now Tao is is creating their<00:17:19.799> own<00:17:19.919> blobs<00:17:20.640> what<00:17:20.959> if<00:17:21.039> you<00:17:21.120> can<00:17:21.199> share 00:17:21.390 --> 00:17:21.400 align:start position:0% their own blobs what if you can share 00:17:21.400 --> 00:17:23.029 align:start position:0% their own blobs what if you can share your<00:17:21.520> blobs<00:17:21.880> you<00:17:21.959> can<00:17:22.120> get<00:17:22.400> approximately 00:17:23.029 --> 00:17:23.039 align:start position:0% your blobs you can get approximately 00:17:23.039 --> 00:17:25.230 align:start position:0% your blobs you can get approximately 100%<00:17:23.600> blob<00:17:23.919> blob<00:17:24.160> utilization<00:17:24.839> so<00:17:25.000> you're<00:17:25.120> no 00:17:25.230 --> 00:17:25.240 align:start position:0% 100% blob blob utilization so you're no 00:17:25.240 --> 00:17:27.110 align:start position:0% 100% blob blob utilization so you're no longer<00:17:25.520> paying<00:17:25.760> a<00:17:26.360> you're<00:17:26.520> paying<00:17:26.679> a<00:17:26.799> fixed 00:17:27.110 --> 00:17:27.120 align:start position:0% longer paying a you're paying a fixed 00:17:27.120 --> 00:17:28.390 align:start position:0% longer paying a you're paying a fixed cost<00:17:27.400> but<00:17:27.480> you're<00:17:27.600> now<00:17:27.720> getting<00:17:28.039> 100% 00:17:28.390 --> 00:17:28.400 align:start position:0% cost but you're now getting 100% 00:17:28.400 --> 00:17:29.710 align:start position:0% cost but you're now getting 100% utilization<00:17:29.000> you're<00:17:29.080> able<00:17:29.240> to<00:17:29.320> claw<00:17:29.559> back 00:17:29.710 --> 00:17:29.720 align:start position:0% utilization you're able to claw back 00:17:29.720 --> 00:17:32.310 align:start position:0% utilization you're able to claw back some<00:17:29.840> of<00:17:29.960> the<00:17:30.120> costs<00:17:30.360> that<00:17:30.480> you're<00:17:30.640> paying<00:17:31.600> um 00:17:32.310 --> 00:17:32.320 align:start position:0% some of the costs that you're paying um 00:17:32.320 --> 00:17:33.390 align:start position:0% some of the costs that you're paying um shared<00:17:32.679> proving<00:17:33.000> we're<00:17:33.120> going<00:17:33.200> to<00:17:33.280> get 00:17:33.390 --> 00:17:33.400 align:start position:0% shared proving we're going to get 00:17:33.400 --> 00:17:35.669 align:start position:0% shared proving we're going to get economies<00:17:33.760> of<00:17:33.919> scale<00:17:34.840> uh<00:17:34.919> and<00:17:35.039> cheaper<00:17:35.320> L1 00:17:35.669 --> 00:17:35.679 align:start position:0% economies of scale uh and cheaper L1 00:17:35.679 --> 00:17:37.190 align:start position:0% economies of scale uh and cheaper L1 verification<00:17:36.240> so<00:17:36.400> again<00:17:36.600> these<00:17:36.720> are<00:17:36.880> all<00:17:37.039> sort 00:17:37.190 --> 00:17:37.200 align:start position:0% verification so again these are all sort 00:17:37.200 --> 00:17:38.510 align:start position:0% verification so again these are all sort of<00:17:37.320> things<00:17:37.520> that<00:17:37.640> you're<00:17:37.760> trying<00:17:37.960> to<00:17:38.080> do<00:17:38.280> as<00:17:38.360> a 00:17:38.510 --> 00:17:38.520 align:start position:0% of things that you're trying to do as a 00:17:38.520 --> 00:17:40.710 align:start position:0% of things that you're trying to do as a provider<00:17:38.880> to<00:17:39.520> uh<00:17:39.600> increase<00:17:39.919> your<00:17:40.120> bottom<00:17:40.360> line 00:17:40.710 --> 00:17:40.720 align:start position:0% provider to uh increase your bottom line 00:17:40.720 --> 00:17:42.350 align:start position:0% provider to uh increase your bottom line or<00:17:41.039> improve<00:17:41.280> your<00:17:41.360> bottom<00:17:41.600> line<00:17:42.039> uh<00:17:42.120> and 00:17:42.350 --> 00:17:42.360 align:start position:0% or improve your bottom line uh and 00:17:42.360 --> 00:17:43.310 align:start position:0% or improve your bottom line uh and composability 00:17:43.310 --> 00:17:43.320 align:start position:0% composability 00:17:43.320 --> 00:17:46.549 align:start position:0% composability uh<00:17:44.320> so<00:17:44.559> less<00:17:44.799> risk<00:17:45.320> complexity<00:17:45.760> for<00:17:45.960> proposers 00:17:46.549 --> 00:17:46.559 align:start position:0% uh so less risk complexity for proposers 00:17:46.559 --> 00:17:47.830 align:start position:0% uh so less risk complexity for proposers you<00:17:46.679> don't<00:17:46.960> you<00:17:47.080> no<00:17:47.200> longer<00:17:47.440> have<00:17:47.559> to<00:17:47.640> use 00:17:47.830 --> 00:17:47.840 align:start position:0% you don't you no longer have to use 00:17:47.840 --> 00:17:50.110 align:start position:0% you don't you no longer have to use someone<00:17:48.080> like<00:17:48.160> a<00:17:48.360> cross<00:17:48.760> you<00:17:48.880> can<00:17:49.120> just 00:17:50.110 --> 00:17:50.120 align:start position:0% someone like a cross you can just 00:17:50.120 --> 00:17:52.510 align:start position:0% someone like a cross you can just basically<00:17:51.120> uh<00:17:51.520> sign<00:17:51.760> a<00:17:51.880> smart<00:17:52.160> or<00:17:52.240> sign<00:17:52.400> a 00:17:52.510 --> 00:17:52.520 align:start position:0% basically uh sign a smart or sign a 00:17:52.520 --> 00:17:53.870 align:start position:0% basically uh sign a smart or sign a transaction<00:17:52.960> that<00:17:53.039> interacts<00:17:53.400> with<00:17:53.520> a<00:17:53.799> a 00:17:53.870 --> 00:17:53.880 align:start position:0% transaction that interacts with a a 00:17:53.880 --> 00:17:56.149 align:start position:0% transaction that interacts with a a shared<00:17:54.200> smart<00:17:54.480> contract<00:17:55.240> and<00:17:55.400> pre-comp 00:17:56.149 --> 00:17:56.159 align:start position:0% shared smart contract and pre-comp 00:17:56.159 --> 00:17:58.510 align:start position:0% shared smart contract and pre-comp that's<00:17:56.360> that's<00:17:56.480> a<00:17:56.679> it's<00:17:56.799> a<00:17:57.000> big<00:17:57.120> area<00:17:57.520> of<00:17:57.679> of<00:17:58.039> uh 00:17:58.510 --> 00:17:58.520 align:start position:0% that's that's a it's a big area of of uh 00:17:58.520 --> 00:18:00.070 align:start position:0% that's that's a it's a big area of of uh efficiency<00:17:59.080> and<00:17:59.200> reduce<00:17:59.480> the<00:17:59.600> cost<00:17:59.799> that<00:17:59.880> we 00:18:00.070 --> 00:18:00.080 align:start position:0% efficiency and reduce the cost that we 00:18:00.080 --> 00:18:02.350 align:start position:0% efficiency and reduce the cost that we expect<00:18:00.320> to<00:18:00.400> see<00:18:00.559> and<00:18:00.760> improved<00:18:01.120> ux<00:18:01.600> that<00:18:01.720> will 00:18:02.350 --> 00:18:02.360 align:start position:0% expect to see and improved ux that will 00:18:02.360 --> 00:18:04.070 align:start position:0% expect to see and improved ux that will will<00:18:02.520> definitely<00:18:02.880> improve<00:18:03.480> uh<00:18:03.640> the<00:18:03.760> revenue 00:18:04.070 --> 00:18:04.080 align:start position:0% will definitely improve uh the revenue 00:18:04.080 --> 00:18:06.669 align:start position:0% will definitely improve uh the revenue model<00:18:04.280> for<00:18:04.400> base<00:18:05.080> rollups<00:18:06.080> uh<00:18:06.320> but<00:18:06.440> it's<00:18:06.520> also 00:18:06.669 --> 00:18:06.679 align:start position:0% model for base rollups uh but it's also 00:18:06.679 --> 00:18:09.270 align:start position:0% model for base rollups uh but it's also going<00:18:06.799> to<00:18:06.880> increase<00:18:07.159> expenses<00:18:07.640> right<00:18:08.320> uh<00:18:08.520> so 00:18:09.270 --> 00:18:09.280 align:start position:0% going to increase expenses right uh so 00:18:09.280 --> 00:18:10.430 align:start position:0% going to increase expenses right uh so we're<00:18:09.400> going<00:18:09.520> to<00:18:09.720> get<00:18:09.880> there<00:18:10.200> there's 00:18:10.430 --> 00:18:10.440 align:start position:0% we're going to get there there's 00:18:10.440 --> 00:18:12.270 align:start position:0% we're going to get there there's definitely<00:18:10.880> a<00:18:11.080> great<00:18:11.559> greater<00:18:11.880> cost<00:18:12.120> for 00:18:12.270 --> 00:18:12.280 align:start position:0% definitely a great greater cost for 00:18:12.280 --> 00:18:14.270 align:start position:0% definitely a great greater cost for sequencing<00:18:12.840> two<00:18:13.039> rollups<00:18:13.640> together<00:18:14.039> than 00:18:14.270 --> 00:18:14.280 align:start position:0% sequencing two rollups together than 00:18:14.280 --> 00:18:16.430 align:start position:0% sequencing two rollups together than sequencing<00:18:14.799> them<00:18:15.120> in<00:18:15.840> E<00:18:16.080> both<00:18:16.200> of<00:18:16.280> them 00:18:16.430 --> 00:18:16.440 align:start position:0% sequencing them in E both of them 00:18:16.440 --> 00:18:18.070 align:start position:0% sequencing them in E both of them independently<00:18:17.440> uh<00:18:17.559> just<00:18:17.679> because<00:18:17.880> of<00:18:17.960> the 00:18:18.070 --> 00:18:18.080 align:start position:0% independently uh just because of the 00:18:18.080 --> 00:18:20.950 align:start position:0% independently uh just because of the increased<00:18:18.400> search<00:18:18.679> base<00:18:19.480> uh<00:18:19.720> the<00:18:20.240> the<00:18:20.400> more 00:18:20.950 --> 00:18:20.960 align:start position:0% increased search base uh the the more 00:18:20.960 --> 00:18:23.870 align:start position:0% increased search base uh the the more the<00:18:21.360> greater<00:18:22.360> amount<00:18:22.559> of<00:18:22.679> MV<00:18:23.440> MV 00:18:23.870 --> 00:18:23.880 align:start position:0% the greater amount of MV MV 00:18:23.880 --> 00:18:26.470 align:start position:0% the greater amount of MV MV opportunities<00:18:24.360> that<00:18:24.520> exist<00:18:25.520> um<00:18:25.679> Shar<00:18:26.039> proving 00:18:26.470 --> 00:18:26.480 align:start position:0% opportunities that exist um Shar proving 00:18:26.480 --> 00:18:28.390 align:start position:0% opportunities that exist um Shar proving again<00:18:26.720> similar<00:18:27.120> similar<00:18:27.480> concept<00:18:28.080> as<00:18:28.200> far<00:18:28.320> as 00:18:28.390 --> 00:18:28.400 align:start position:0% again similar similar concept as far as 00:18:28.400 --> 00:18:31.549 align:start position:0% again similar similar concept as far as I<00:18:28.640> understand<00:18:28.840> and<00:18:29.200> if<00:18:30.039> proving<00:18:30.600> two<00:18:30.840> states 00:18:31.549 --> 00:18:31.559 align:start position:0% I understand and if proving two states 00:18:31.559 --> 00:18:34.310 align:start position:0% I understand and if proving two states uh<00:18:32.120> together<00:18:33.000> uh<00:18:33.120> is<00:18:33.280> more<00:18:33.679> is<00:18:33.760> more<00:18:33.919> expensive 00:18:34.310 --> 00:18:34.320 align:start position:0% uh together uh is more is more expensive 00:18:34.320 --> 00:18:35.590 align:start position:0% uh together uh is more is more expensive than<00:18:34.480> proving<00:18:34.799> two 00:18:35.590 --> 00:18:35.600 align:start position:0% than proving two 00:18:35.600 --> 00:18:38.510 align:start position:0% than proving two individually<00:18:36.679> uh<00:18:37.679> but<00:18:37.880> the<00:18:38.080> big<00:18:38.280> question 00:18:38.510 --> 00:18:38.520 align:start position:0% individually uh but the big question 00:18:38.520 --> 00:18:40.149 align:start position:0% individually uh but the big question will<00:18:38.720> be<00:18:39.120> are<00:18:39.280> the<00:18:39.400> some<00:18:39.520> of<00:18:39.600> the<00:18:39.720> benefits 00:18:40.149 --> 00:18:40.159 align:start position:0% will be are the some of the benefits 00:18:40.159 --> 00:18:41.510 align:start position:0% will be are the some of the benefits greater<00:18:40.440> than<00:18:40.600> the<00:18:40.760> increase<00:18:41.120> improving 00:18:41.510 --> 00:18:41.520 align:start position:0% greater than the increase improving 00:18:41.520 --> 00:18:43.190 align:start position:0% greater than the increase improving costs<00:18:41.760> we're<00:18:41.880> only<00:18:42.039> going<00:18:42.159> to<00:18:42.280> see<00:18:42.520> that<00:18:43.000> uh 00:18:43.190 --> 00:18:43.200 align:start position:0% costs we're only going to see that uh 00:18:43.200 --> 00:18:44.750 align:start position:0% costs we're only going to see that uh when<00:18:43.360> we<00:18:43.480> see<00:18:43.720> what<00:18:43.880> the<00:18:44.000> results<00:18:44.320> of<00:18:44.480> the<00:18:44.640> of 00:18:44.750 --> 00:18:44.760 align:start position:0% when we see what the results of the of 00:18:44.760 --> 00:18:47.230 align:start position:0% when we see what the results of the of of<00:18:44.919> this<00:18:45.039> R&D<00:18:45.559> are<00:18:46.440> but<00:18:46.559> we<00:18:46.679> definitely<00:18:47.000> are 00:18:47.230 --> 00:18:47.240 align:start position:0% of this R&D are but we definitely are 00:18:47.240 --> 00:18:49.710 align:start position:0% of this R&D are but we definitely are optimistic<00:18:47.880> that<00:18:48.039> we<00:18:48.120> can<00:18:48.320> get<00:18:48.919> the<00:18:49.159> Z<00:18:49.400> ZK 00:18:49.710 --> 00:18:49.720 align:start position:0% optimistic that we can get the Z ZK 00:18:49.720 --> 00:18:53.590 align:start position:0% optimistic that we can get the Z ZK proving<00:18:50.200> costs<00:18:50.760> low<00:18:51.679> and<00:18:52.200> the<00:18:53.000> the<00:18:53.120> utility 00:18:53.590 --> 00:18:53.600 align:start position:0% proving costs low and the the utility 00:18:53.600 --> 00:18:55.630 align:start position:0% proving costs low and the the utility from<00:18:53.799> shared<00:18:54.080> sequencing<00:18:54.520> high<00:18:55.440> and 00:18:55.630 --> 00:18:55.640 align:start position:0% from shared sequencing high and 00:18:55.640 --> 00:18:57.190 align:start position:0% from shared sequencing high and centralization<00:18:56.280> I<00:18:56.360> guess<00:18:56.520> that's<00:18:56.679> sort<00:18:56.840> of<00:18:57.000> a 00:18:57.190 --> 00:18:57.200 align:start position:0% centralization I guess that's sort of a 00:18:57.200 --> 00:18:59.909 align:start position:0% centralization I guess that's sort of a that's<00:18:57.440> sort<00:18:57.559> of<00:18:57.640> a<00:18:57.720> tougher<00:18:58.000> one<00:18:58.120> to<00:18:58.360> to<00:18:59.000> uh 00:18:59.909 --> 00:18:59.919 align:start position:0% that's sort of a tougher one to to uh 00:18:59.919 --> 00:19:01.430 align:start position:0% that's sort of a tougher one to to uh quantify<00:19:00.679> but<00:19:00.799> it's<00:19:01.000> definitely<00:19:01.320> a 00:19:01.430 --> 00:19:01.440 align:start position:0% quantify but it's definitely a 00:19:01.440 --> 00:19:03.510 align:start position:0% quantify but it's definitely a significant<00:19:01.880> risk<00:19:02.159> and<00:19:02.320> risks<00:19:02.760> are<00:19:03.000> affect 00:19:03.510 --> 00:19:03.520 align:start position:0% significant risk and risks are affect 00:19:03.520 --> 00:19:05.549 align:start position:0% significant risk and risks are affect risks<00:19:03.760> are<00:19:03.960> costs<00:19:04.320> in<00:19:04.400> our<00:19:04.559> Revenue<00:19:04.880> model<00:19:05.440> uh 00:19:05.549 --> 00:19:05.559 align:start position:0% risks are costs in our Revenue model uh 00:19:05.559 --> 00:19:08.230 align:start position:0% risks are costs in our Revenue model uh so<00:19:06.039> centralization<00:19:06.640> poses<00:19:06.960> a<00:19:07.120> risk<00:19:07.840> uh<00:19:08.000> and<00:19:08.120> we 00:19:08.230 --> 00:19:08.240 align:start position:0% so centralization poses a risk uh and we 00:19:08.240 --> 00:19:09.950 align:start position:0% so centralization poses a risk uh and we need<00:19:08.360> to<00:19:08.520> be<00:19:08.679> conscious<00:19:09.280> that<00:19:09.440> all<00:19:09.559> of<00:19:09.720> these 00:19:09.950 --> 00:19:09.960 align:start position:0% need to be conscious that all of these 00:19:09.960 --> 00:19:12.470 align:start position:0% need to be conscious that all of these shared<00:19:10.520> things<00:19:11.200> will<00:19:11.360> add<00:19:11.520> to<00:19:11.640> centralization 00:19:12.470 --> 00:19:12.480 align:start position:0% shared things will add to centralization 00:19:12.480 --> 00:19:15.789 align:start position:0% shared things will add to centralization risks<00:19:13.480> uh<00:19:14.240> so<00:19:14.520> conclusion<00:19:15.520> when<00:19:15.640> you're 00:19:15.789 --> 00:19:15.799 align:start position:0% risks uh so conclusion when you're 00:19:15.799 --> 00:19:16.870 align:start position:0% risks uh so conclusion when you're thinking<00:19:16.039> about<00:19:16.200> the<00:19:16.280> revenue<00:19:16.559> model<00:19:16.760> for 00:19:16.870 --> 00:19:16.880 align:start position:0% thinking about the revenue model for 00:19:16.880 --> 00:19:19.390 align:start position:0% thinking about the revenue model for your<00:19:17.039> based<00:19:17.360> rollup<00:19:18.360> you<00:19:18.520> want<00:19:19.039> you<00:19:19.120> want<00:19:19.240> to 00:19:19.390 --> 00:19:19.400 align:start position:0% your based rollup you want you want to 00:19:19.400 --> 00:19:21.950 align:start position:0% your based rollup you want you want to basically<00:19:19.880> get<00:19:20.480> CAU<00:19:20.799> up<00:19:20.960> all<00:19:21.080> of<00:19:21.200> your<00:19:21.360> incomes 00:19:21.950 --> 00:19:21.960 align:start position:0% basically get CAU up all of your incomes 00:19:21.960 --> 00:19:23.470 align:start position:0% basically get CAU up all of your incomes take<00:19:22.159> away<00:19:22.320> all<00:19:22.400> of<00:19:22.480> your<00:19:22.600> expenditures<00:19:23.320> and 00:19:23.470 --> 00:19:23.480 align:start position:0% take away all of your expenditures and 00:19:23.480 --> 00:19:25.390 align:start position:0% take away all of your expenditures and ask<00:19:23.679> yourself<00:19:24.320> why<00:19:24.440> am<00:19:24.520> I<00:19:24.640> playing<00:19:25.000> this<00:19:25.280> if 00:19:25.390 --> 00:19:25.400 align:start position:0% ask yourself why am I playing this if 00:19:25.400 --> 00:19:27.510 align:start position:0% ask yourself why am I playing this if I'm<00:19:25.559> losing<00:19:26.120> and<00:19:26.640> how<00:19:26.760> can<00:19:26.880> I<00:19:27.039> play<00:19:27.240> more<00:19:27.360> of 00:19:27.510 --> 00:19:27.520 align:start position:0% I'm losing and how can I play more of 00:19:27.520 --> 00:19:29.230 align:start position:0% I'm losing and how can I play more of this<00:19:27.679> if<00:19:27.799> I'm<00:19:27.919> winning 00:19:29.230 --> 00:19:29.240 align:start position:0% this if I'm winning 00:19:29.240 --> 00:19:31.350 align:start position:0% this if I'm winning uh<00:19:29.760> basic<00:19:30.080> here<00:19:30.240> is<00:19:30.400> assemble<00:19:30.840> so<00:19:31.039> again<00:19:31.240> do 00:19:31.350 --> 00:19:31.360 align:start position:0% uh basic here is assemble so again do 00:19:31.360 --> 00:19:32.190 align:start position:0% uh basic here is assemble so again do your<00:19:31.480> own 00:19:32.190 --> 00:19:32.200 align:start position:0% your own 00:19:32.200 --> 00:19:35.190 align:start position:0% your own calculations<00:19:33.200> uh<00:19:33.679> and<00:19:34.679> innovate<00:19:35.080> on 00:19:35.190 --> 00:19:35.200 align:start position:0% calculations uh and innovate on 00:19:35.200 --> 00:19:36.950 align:start position:0% calculations uh and innovate on increasing<00:19:35.600> income<00:19:36.000> and<00:19:36.120> reducing<00:19:36.520> expenses 00:19:36.950 --> 00:19:36.960 align:start position:0% increasing income and reducing expenses 00:19:36.960 --> 00:19:39.669 align:start position:0% increasing income and reducing expenses so<00:19:37.120> remember<00:19:37.679> heroical<00:19:38.360> strick<00:19:39.360> you<00:19:39.520> can't 00:19:39.669 --> 00:19:39.679 align:start position:0% so remember heroical strick you can't 00:19:39.679 --> 00:19:41.710 align:start position:0% so remember heroical strick you can't step<00:19:40.039> into<00:19:40.200> the<00:19:40.320> same<00:19:40.480> base<00:19:41.159> Revenue<00:19:41.480> model 00:19:41.710 --> 00:19:41.720 align:start position:0% step into the same base Revenue model 00:19:41.720 --> 00:19:45.390 align:start position:0% step into the same base Revenue model twice<00:19:42.360> so<00:19:42.520> we<00:19:42.640> want<00:19:42.720> to<00:19:42.840> see<00:19:43.080> less<00:19:43.840> trickles<00:19:44.840> uh 00:19:45.390 --> 00:19:45.400 align:start position:0% twice so we want to see less trickles uh 00:19:45.400 --> 00:19:47.430 align:start position:0% twice so we want to see less trickles uh and<00:19:45.640> and<00:19:45.760> more<00:19:46.080> waves<00:19:46.400> crashing<00:19:46.799> all<00:19:46.919> right<00:19:47.200> so 00:19:47.430 --> 00:19:47.440 align:start position:0% and and more waves crashing all right so 00:19:47.440 --> 00:19:50.070 align:start position:0% and and more waves crashing all right so thanks<00:19:47.720> very<00:19:47.880> much<00:19:48.480> and<00:19:48.919> uh<00:19:49.440> yeah<00:19:49.760> appre 00:19:50.070 --> 00:19:50.080 align:start position:0% thanks very much and uh yeah appre 00:19:50.080 --> 00:19:50.540 align:start position:0% thanks very much and uh yeah appre appreciate<00:19:50.400> your 00:19:50.540 --> 00:19:50.550 align:start position:0% appreciate your 00:19:50.550 --> 00:19:57.029 align:start position:0% appreciate your [Applause] 00:19:57.029 --> 00:19:57.039 align:start position:0% [Applause] 00:19:57.039 --> 00:19:59.830 align:start position:0% [Applause] time<00:19:58.039> all<00:19:58.240> right<00:19:58.480> great<00:19:58.799> talk<00:19:59.000> Conor<00:19:59.480> I'm<00:19:59.640> just 00:19:59.830 --> 00:19:59.840 align:start position:0% time all right great talk Conor I'm just 00:19:59.840 --> 00:20:02.310 align:start position:0% time all right great talk Conor I'm just going<00:20:00.080> to<00:20:00.520> direct<00:20:00.840> you<00:20:01.120> to<00:20:01.400> stand<00:20:01.679> over<00:20:01.960> here 00:20:02.310 --> 00:20:02.320 align:start position:0% going to direct you to stand over here 00:20:02.320 --> 00:20:03.310 align:start position:0% going to direct you to stand over here for<00:20:02.559> the 00:20:03.310 --> 00:20:03.320 align:start position:0% for the 00:20:03.320 --> 00:20:06.470 align:start position:0% for the QA<00:20:04.320> yeah<00:20:04.559> this<00:20:04.720> one<00:20:05.000> will<00:20:05.159> be<00:20:05.400> good<00:20:06.120> all<00:20:06.240> right 00:20:06.470 --> 00:20:06.480 align:start position:0% QA yeah this one will be good all right 00:20:06.480 --> 00:20:10.830 align:start position:0% QA yeah this one will be good all right so<00:20:06.799> we<00:20:06.919> do<00:20:07.679> have<00:20:08.679> a<00:20:08.799> few<00:20:09.159> questions<00:20:09.880> let's<00:20:10.240> go 00:20:10.830 --> 00:20:10.840 align:start position:0% so we do have a few questions let's go 00:20:10.840 --> 00:20:13.909 align:start position:0% so we do have a few questions let's go from<00:20:11.320> the<00:20:11.480> most<00:20:11.840> voted<00:20:12.400> question<00:20:13.280> how<00:20:13.480> can<00:20:13.679> we 00:20:13.909 --> 00:20:13.919 align:start position:0% from the most voted question how can we 00:20:13.919 --> 00:20:16.149 align:start position:0% from the most voted question how can we reconciliate<00:20:14.760> Revenue<00:20:15.240> models<00:20:15.840> with<00:20:16.000> the 00:20:16.149 --> 00:20:16.159 align:start position:0% reconciliate Revenue models with the 00:20:16.159 --> 00:20:18.990 align:start position:0% reconciliate Revenue models with the decentralization<00:20:17.120> of<00:20:17.280> zkp<00:20:17.840> rollups<00:20:18.760> where 00:20:18.990 --> 00:20:19.000 align:start position:0% decentralization of zkp rollups where 00:20:19.000 --> 00:20:21.470 align:start position:0% decentralization of zkp rollups where multiple<00:20:19.520> sequencers<00:20:20.240> and<00:20:20.480> validators<00:20:21.280> will 00:20:21.470 --> 00:20:21.480 align:start position:0% multiple sequencers and validators will 00:20:21.480 --> 00:20:25.200 align:start position:0% multiple sequencers and validators will need<00:20:21.640> to<00:20:21.840> be 00:20:25.200 --> 00:20:25.210 align:start position:0% 00:20:25.210 --> 00:20:26.909 align:start position:0% [Music] 00:20:26.909 --> 00:20:26.919 align:start position:0% [Music] 00:20:26.919 --> 00:20:29.310 align:start position:0% [Music] compensated<00:20:27.919> uh<00:20:28.480> the<00:20:28.720> the<00:20:28.799> person<00:20:29.000> who<00:20:29.120> write 00:20:29.310 --> 00:20:29.320 align:start position:0% compensated uh the the person who write 00:20:29.320 --> 00:20:30.789 align:start position:0% compensated uh the the person who write this<00:20:29.480> question<00:20:29.799> could<00:20:30.000> they<00:20:30.360> explain<00:20:30.679> what 00:20:30.789 --> 00:20:30.799 align:start position:0% this question could they explain what 00:20:30.799 --> 00:20:34.549 align:start position:0% this question could they explain what they<00:20:30.919> mean<00:20:31.080> by 00:20:34.549 --> 00:20:34.559 align:start position:0% 00:20:34.559 --> 00:20:38.909 align:start position:0% reconciliate<00:20:35.880> yeah<00:20:36.880> oh<00:20:37.320> sorry<00:20:37.600> I<00:20:37.880> I<00:20:38.120> yeah<00:20:38.840> can 00:20:38.909 --> 00:20:38.919 align:start position:0% reconciliate yeah oh sorry I I yeah can 00:20:38.919 --> 00:20:43.310 align:start position:0% reconciliate yeah oh sorry I I yeah can we<00:20:39.000> get<00:20:39.159> can<00:20:39.200> we<00:20:39.280> get<00:20:39.360> a<00:20:39.440> mic<00:20:39.600> to<00:20:39.720> that<00:20:39.840> person 00:20:43.310 --> 00:20:43.320 align:start position:0% 00:20:43.320 --> 00:20:46.750 align:start position:0% or<00:20:44.320> okay<00:20:45.240> uh<00:20:46.080> maybe<00:20:46.200> we<00:20:46.280> can<00:20:46.360> go<00:20:46.440> to<00:20:46.520> the<00:20:46.600> next 00:20:46.750 --> 00:20:46.760 align:start position:0% or okay uh maybe we can go to the next 00:20:46.760 --> 00:20:54.590 align:start position:0% or okay uh maybe we can go to the next question<00:20:47.000> while<00:20:47.120> we're<00:20:47.240> waiting 00:20:54.590 --> 00:20:54.600 align:start position:0% 00:20:54.600 --> 00:20:57.590 align:start position:0% uh<00:20:55.600> well<00:20:56.200> maybe<00:20:56.400> I<00:20:56.480> can<00:20:56.600> I<00:20:56.679> can<00:20:56.799> touch<00:20:56.960> on<00:20:57.240> on<00:20:57.440> my 00:20:57.590 --> 00:20:57.600 align:start position:0% uh well maybe I can I can touch on on my 00:20:57.600 --> 00:20:58.870 align:start position:0% uh well maybe I can I can touch on on my interpretation<00:20:58.120> of<00:20:58.280> the<00:20:58.360> of<00:20:58.480> the<00:20:58.640> of<00:20:58.760> the 00:20:58.870 --> 00:20:58.880 align:start position:0% interpretation of the of the of the 00:20:58.880 --> 00:21:02.390 align:start position:0% interpretation of the of the of the question<00:20:59.159> so<00:20:59.600> maybe<00:21:00.880> when<00:21:01.880> in<00:21:02.000> the<00:21:02.120> case<00:21:02.240> of 00:21:02.390 --> 00:21:02.400 align:start position:0% question so maybe when in the case of 00:21:02.400 --> 00:21:03.950 align:start position:0% question so maybe when in the case of current<00:21:02.919> current<00:21:03.159> rollups<00:21:03.559> where<00:21:03.679> we<00:21:03.760> have<00:21:03.880> a 00:21:03.950 --> 00:21:03.960 align:start position:0% current current rollups where we have a 00:21:03.960 --> 00:21:05.710 align:start position:0% current current rollups where we have a centralized<00:21:04.360> sequencer<00:21:04.720> and<00:21:04.799> a<00:21:04.880> centralized 00:21:05.710 --> 00:21:05.720 align:start position:0% centralized sequencer and a centralized 00:21:05.720 --> 00:21:08.470 align:start position:0% centralized sequencer and a centralized prover<00:21:06.720> it's<00:21:06.960> it's<00:21:07.080> still<00:21:07.240> not<00:21:07.440> clear<00:21:07.760> if<00:21:07.960> the 00:21:08.470 --> 00:21:08.480 align:start position:0% prover it's it's still not clear if the 00:21:08.480 --> 00:21:09.390 align:start position:0% prover it's it's still not clear if the incomes<00:21:08.840> are<00:21:08.960> greater<00:21:09.200> than<00:21:09.280> the 00:21:09.390 --> 00:21:09.400 align:start position:0% incomes are greater than the 00:21:09.400 --> 00:21:11.110 align:start position:0% incomes are greater than the expenditures<00:21:10.120> okay<00:21:10.320> but<00:21:10.480> yeah<00:21:10.799> we<00:21:10.919> have<00:21:11.000> the 00:21:11.110 --> 00:21:11.120 align:start position:0% expenditures okay but yeah we have the 00:21:11.120 --> 00:21:13.990 align:start position:0% expenditures okay but yeah we have the mic<00:21:11.320> now<00:21:11.480> let's<00:21:11.960> go<00:21:12.960> uh<00:21:13.120> essentially<00:21:13.640> how<00:21:13.799> do 00:21:13.990 --> 00:21:14.000 align:start position:0% mic now let's go uh essentially how do 00:21:14.000 --> 00:21:17.870 align:start position:0% mic now let's go uh essentially how do we<00:21:14.880> is<00:21:15.279> as<00:21:15.480> there's<00:21:15.640> a<00:21:15.840> risk<00:21:16.400> of<00:21:17.000> um<00:21:17.520> fees 00:21:17.870 --> 00:21:17.880 align:start position:0% we is as there's a risk of um fees 00:21:17.880 --> 00:21:22.029 align:start position:0% we is as there's a risk of um fees increasing<00:21:18.480> with<00:21:19.000> um<00:21:19.360> higher<00:21:19.720> number<00:21:20.360> of<00:21:20.919> uh 00:21:22.029 --> 00:21:22.039 align:start position:0% increasing with um higher number of uh 00:21:22.039 --> 00:21:26.590 align:start position:0% increasing with um higher number of uh validators<00:21:23.039> uh<00:21:23.200> in<00:21:23.559> l2z<00:21:24.279> k<00:21:25.120> um 00:21:26.590 --> 00:21:26.600 align:start position:0% validators uh in l2z k um 00:21:26.600 --> 00:21:29.470 align:start position:0% validators uh in l2z k um rollups<00:21:27.600> how<00:21:28.320> what<00:21:28.600> what<00:21:28.679> are<00:21:28.799> the<00:21:28.919> risks<00:21:29.279> of 00:21:29.470 --> 00:21:29.480 align:start position:0% rollups how what what are the risks of 00:21:29.480 --> 00:21:31.470 align:start position:0% rollups how what what are the risks of that<00:21:29.720> making<00:21:30.039> the<00:21:30.159> situation<00:21:30.640> like<00:21:31.240> more 00:21:31.470 --> 00:21:31.480 align:start position:0% that making the situation like more 00:21:31.480 --> 00:21:34.269 align:start position:0% that making the situation like more unsustainable<00:21:32.440> and<00:21:33.440> what<00:21:33.559> are<00:21:33.760> ways<00:21:33.960> in<00:21:34.120> which 00:21:34.269 --> 00:21:34.279 align:start position:0% unsustainable and what are ways in which 00:21:34.279 --> 00:21:37.510 align:start position:0% unsustainable and what are ways in which we<00:21:34.400> can<00:21:35.240> address<00:21:36.039> that<00:21:37.039> well<00:21:37.159> the<00:21:37.279> good<00:21:37.400> thing 00:21:37.510 --> 00:21:37.520 align:start position:0% we can address that well the good thing 00:21:37.520 --> 00:21:41.029 align:start position:0% we can address that well the good thing about<00:21:38.080> Bas<00:21:38.520> up<00:21:38.720> specifically<00:21:39.559> uh<00:21:39.720> is<00:21:39.919> that<00:21:40.240> we 00:21:41.029 --> 00:21:41.039 align:start position:0% about Bas up specifically uh is that we 00:21:41.039 --> 00:21:42.470 align:start position:0% about Bas up specifically uh is that we we<00:21:41.159> don't<00:21:41.320> have<00:21:41.440> any<00:21:41.600> validators<00:21:42.080> to<00:21:42.240> pay 00:21:42.470 --> 00:21:42.480 align:start position:0% we don't have any validators to pay 00:21:42.480 --> 00:21:44.630 align:start position:0% we don't have any validators to pay right<00:21:42.640> it's<00:21:42.760> just<00:21:42.880> the<00:21:43.000> L1<00:21:43.320> proposer<00:21:44.200> uh<00:21:44.480> now 00:21:44.630 --> 00:21:44.640 align:start position:0% right it's just the L1 proposer uh now 00:21:44.640 --> 00:21:46.590 align:start position:0% right it's just the L1 proposer uh now in<00:21:44.720> terms<00:21:44.960> of<00:21:45.200> the<00:21:45.440> multiple<00:21:45.840> provs<00:21:46.200> that<00:21:46.279> may 00:21:46.590 --> 00:21:46.600 align:start position:0% in terms of the multiple provs that may 00:21:46.600 --> 00:21:49.230 align:start position:0% in terms of the multiple provs that may exist<00:21:47.600> uh 00:21:49.230 --> 00:21:49.240 align:start position:0% exist uh 00:21:49.240 --> 00:21:51.230 align:start position:0% exist uh we<00:21:50.240> we're<00:21:50.440> basically<00:21:50.720> going<00:21:50.840> to<00:21:50.919> be<00:21:51.000> creating 00:21:51.230 --> 00:21:51.240 align:start position:0% we we're basically going to be creating 00:21:51.240 --> 00:21:52.549 align:start position:0% we we're basically going to be creating a<00:21:51.360> market<00:21:51.679> right<00:21:51.760> and<00:21:51.880> it's<00:21:52.039> it's<00:21:52.159> a<00:21:52.240> bit<00:21:52.360> like 00:21:52.549 --> 00:21:52.559 align:start position:0% a market right and it's it's a bit like 00:21:52.559 --> 00:21:53.710 align:start position:0% a market right and it's it's a bit like Bitcoin<00:21:53.039> and<00:21:53.200> the<00:21:53.320> some<00:21:53.400> of<00:21:53.520> the<00:21:53.600> old 00:21:53.710 --> 00:21:53.720 align:start position:0% Bitcoin and the some of the old 00:21:53.720 --> 00:21:55.549 align:start position:0% Bitcoin and the some of the old Arguments<00:21:54.080> for<00:21:54.200> Bitcoin<00:21:54.679> where<00:21:55.120> you're<00:21:55.320> like 00:21:55.549 --> 00:21:55.559 align:start position:0% Arguments for Bitcoin where you're like 00:21:55.559 --> 00:21:59.029 align:start position:0% Arguments for Bitcoin where you're like okay<00:21:55.760> well<00:21:55.880> I<00:21:56.039> have<00:21:56.760> uh<00:21:57.760> my<00:21:57.960> hash<00:21:58.200> rate<00:21:58.679> I<00:21:58.799> have 00:21:59.029 --> 00:21:59.039 align:start position:0% okay well I have uh my hash rate I have 00:21:59.039 --> 00:22:01.630 align:start position:0% okay well I have uh my hash rate I have the<00:21:59.520> expected<00:22:00.039> Bitcoin<00:22:00.520> rewards<00:22:01.000> and<00:22:01.120> if<00:22:01.240> it's 00:22:01.630 --> 00:22:01.640 align:start position:0% the expected Bitcoin rewards and if it's 00:22:01.640 --> 00:22:03.630 align:start position:0% the expected Bitcoin rewards and if it's if<00:22:01.760> it's<00:22:02.320> uh<00:22:02.600> if<00:22:02.720> I'm<00:22:02.799> losing<00:22:03.080> money<00:22:03.360> there<00:22:03.559> I 00:22:03.630 --> 00:22:03.640 align:start position:0% if it's uh if I'm losing money there I 00:22:03.640 --> 00:22:05.149 align:start position:0% if it's uh if I'm losing money there I can<00:22:03.760> go<00:22:03.880> to<00:22:04.000> bitcoin<00:22:04.400> cash<00:22:04.600> or<00:22:04.679> I<00:22:04.720> can<00:22:04.799> go<00:22:04.919> to<00:22:05.039> an 00:22:05.149 --> 00:22:05.159 align:start position:0% can go to bitcoin cash or I can go to an 00:22:05.159 --> 00:22:07.190 align:start position:0% can go to bitcoin cash or I can go to an alternative<00:22:05.960> uh<00:22:06.279> blockchain<00:22:06.720> that's<00:22:06.840> the<00:22:07.120> the 00:22:07.190 --> 00:22:07.200 align:start position:0% alternative uh blockchain that's the the 00:22:07.200 --> 00:22:09.230 align:start position:0% alternative uh blockchain that's the the same<00:22:07.440> applies<00:22:07.720> to<00:22:07.840> any<00:22:08.000> these<00:22:08.120> Prov<00:22:08.440> markets 00:22:09.230 --> 00:22:09.240 align:start position:0% same applies to any these Prov markets 00:22:09.240 --> 00:22:11.870 align:start position:0% same applies to any these Prov markets so<00:22:09.799> if<00:22:09.919> it<00:22:10.039> becomes<00:22:10.279> too<00:22:10.480> expensive<00:22:11.159> user<00:22:11.640> user 00:22:11.870 --> 00:22:11.880 align:start position:0% so if it becomes too expensive user user 00:22:11.880 --> 00:22:14.230 align:start position:0% so if it becomes too expensive user user will<00:22:12.039> stop<00:22:12.600> uh<00:22:13.240> users<00:22:13.559> will<00:22:13.679> stop<00:22:13.880> paying<00:22:14.080> for 00:22:14.230 --> 00:22:14.240 align:start position:0% will stop uh users will stop paying for 00:22:14.240 --> 00:22:16.510 align:start position:0% will stop uh users will stop paying for it<00:22:14.960> and<00:22:15.720> basically<00:22:16.000> you're<00:22:16.120> going<00:22:16.200> to<00:22:16.279> have<00:22:16.400> to 00:22:16.510 --> 00:22:16.520 align:start position:0% it and basically you're going to have to 00:22:16.520 --> 00:22:18.430 align:start position:0% it and basically you're going to have to spread<00:22:16.799> out<00:22:16.960> your<00:22:17.279> spread<00:22:17.520> out<00:22:17.679> your<00:22:17.880> costs<00:22:18.240> or 00:22:18.430 --> 00:22:18.440 align:start position:0% spread out your spread out your costs or 00:22:18.440 --> 00:22:20.390 align:start position:0% spread out your spread out your costs or just<00:22:18.600> wait<00:22:18.880> until<00:22:19.440> uh<00:22:19.600> Things<00:22:19.799> become<00:22:20.120> cheap 00:22:20.390 --> 00:22:20.400 align:start position:0% just wait until uh Things become cheap 00:22:20.400 --> 00:22:23.070 align:start position:0% just wait until uh Things become cheap again<00:22:21.000> uh<00:22:21.080> so<00:22:21.240> it's<00:22:21.400> definitely<00:22:21.720> a<00:22:21.840> risk<00:22:22.440> um<00:22:22.960> in 00:22:23.070 --> 00:22:23.080 align:start position:0% again uh so it's definitely a risk um in 00:22:23.080 --> 00:22:25.430 align:start position:0% again uh so it's definitely a risk um in a<00:22:23.240> fully<00:22:23.480> decentralized<00:22:24.159> system<00:22:25.159> yes<00:22:25.320> we're 00:22:25.430 --> 00:22:25.440 align:start position:0% a fully decentralized system yes we're 00:22:25.440 --> 00:22:26.590 align:start position:0% a fully decentralized system yes we're going<00:22:25.559> to<00:22:25.679> be<00:22:25.799> exposed<00:22:26.159> to<00:22:26.279> these<00:22:26.400> things 00:22:26.590 --> 00:22:26.600 align:start position:0% going to be exposed to these things 00:22:26.600 --> 00:22:30.269 align:start position:0% going to be exposed to these things being<00:22:26.799> too<00:22:27.039> expensive<00:22:28.039> uh<00:22:28.200> so<00:22:29.000> so<00:22:30.000> the<00:22:30.120> only 00:22:30.269 --> 00:22:30.279 align:start position:0% being too expensive uh so so the only 00:22:30.279 --> 00:22:31.710 align:start position:0% being too expensive uh so so the only thing<00:22:30.440> we<00:22:30.559> can<00:22:30.720> do<00:22:31.000> is<00:22:31.120> try<00:22:31.279> and<00:22:31.400> make<00:22:31.520> sure 00:22:31.710 --> 00:22:31.720 align:start position:0% thing we can do is try and make sure 00:22:31.720 --> 00:22:33.750 align:start position:0% thing we can do is try and make sure that<00:22:31.840> we<00:22:32.000> have<00:22:32.360> uh<00:22:32.559> fallbacks<00:22:33.360> like<00:22:33.520> maybe 00:22:33.750 --> 00:22:33.760 align:start position:0% that we have uh fallbacks like maybe 00:22:33.760 --> 00:22:35.669 align:start position:0% that we have uh fallbacks like maybe cheaper<00:22:34.039> fallbacks<00:22:34.480> in<00:22:34.600> the<00:22:34.799> case<00:22:35.120> that<00:22:35.400> that 00:22:35.669 --> 00:22:35.679 align:start position:0% cheaper fallbacks in the case that that 00:22:35.679 --> 00:22:37.710 align:start position:0% cheaper fallbacks in the case that that those<00:22:35.919> thing<00:22:36.120> we<00:22:36.200> are<00:22:36.400> Expo<00:22:36.799> very<00:22:37.000> exposed<00:22:37.480> to 00:22:37.710 --> 00:22:37.720 align:start position:0% those thing we are Expo very exposed to 00:22:37.720 --> 00:22:39.310 align:start position:0% those thing we are Expo very exposed to fluctuations<00:22:38.720> uh<00:22:38.840> but<00:22:38.919> I<00:22:39.000> think<00:22:39.120> pre- 00:22:39.310 --> 00:22:39.320 align:start position:0% fluctuations uh but I think pre- 00:22:39.320 --> 00:22:40.789 align:start position:0% fluctuations uh but I think pre- confirmations<00:22:39.760> and<00:22:39.880> things<00:22:40.120> like<00:22:40.279> this<00:22:40.640> that 00:22:40.789 --> 00:22:40.799 align:start position:0% confirmations and things like this that 00:22:40.799 --> 00:22:43.750 align:start position:0% confirmations and things like this that allow<00:22:41.039> us<00:22:41.159> to<00:22:41.360> wait<00:22:42.120> maybe<00:22:42.400> 16<00:22:42.840> blocks<00:22:43.400> or<00:22:43.600> or 00:22:43.750 --> 00:22:43.760 align:start position:0% allow us to wait maybe 16 blocks or or 00:22:43.760 --> 00:22:46.990 align:start position:0% allow us to wait maybe 16 blocks or or 32<00:22:44.240> 32<00:22:44.679> blocks<00:22:45.320> L1<00:22:45.640> blocks<00:22:46.480> uh<00:22:46.640> where<00:22:46.760> we<00:22:46.880> get 00:22:46.990 --> 00:22:47.000 align:start position:0% 32 32 blocks L1 blocks uh where we get 00:22:47.000 --> 00:22:48.149 align:start position:0% 32 32 blocks L1 blocks uh where we get to<00:22:47.080> sort<00:22:47.200> of<00:22:47.320> pick<00:22:47.480> and<00:22:47.600> choose<00:22:47.880> where<00:22:48.039> we 00:22:48.149 --> 00:22:48.159 align:start position:0% to sort of pick and choose where we 00:22:48.159 --> 00:22:50.190 align:start position:0% to sort of pick and choose where we include<00:22:48.559> things<00:22:48.960> and<00:22:49.120> maybe<00:22:49.360> pick<00:22:49.520> and<00:22:49.640> choose 00:22:50.190 --> 00:22:50.200 align:start position:0% include things and maybe pick and choose 00:22:50.200 --> 00:22:52.549 align:start position:0% include things and maybe pick and choose which<00:22:50.360> provs<00:22:50.799> to<00:22:50.960> pay<00:22:51.679> uh<00:22:51.799> that<00:22:51.919> can<00:22:52.240> maybe 00:22:52.549 --> 00:22:52.559 align:start position:0% which provs to pay uh that can maybe 00:22:52.559 --> 00:22:54.669 align:start position:0% which provs to pay uh that can maybe helped<00:22:52.880> to<00:22:53.520> reduce<00:22:53.880> the<00:22:54.039> risk<00:22:54.279> to<00:22:54.440> maybe 00:22:54.669 --> 00:22:54.679 align:start position:0% helped to reduce the risk to maybe 00:22:54.679 --> 00:22:57.909 align:start position:0% helped to reduce the risk to maybe spikes<00:22:55.080> let's<00:22:55.279> say<00:22:55.960> um<00:22:56.440> but<00:22:57.440> not<00:22:57.559> sure<00:22:57.720> if<00:22:57.799> that 00:22:57.909 --> 00:22:57.919 align:start position:0% spikes let's say um but not sure if that 00:22:57.919 --> 00:23:00.470 align:start position:0% spikes let's say um but not sure if that answered<00:22:58.159> your<00:22:58.279> question<00:22:58.720> sorry<00:22:59.520> great<00:23:00.159> uh<00:23:00.320> we 00:23:00.470 --> 00:23:00.480 align:start position:0% answered your question sorry great uh we 00:23:00.480 --> 00:23:03.669 align:start position:0% answered your question sorry great uh we do<00:23:00.840> have<00:23:01.600> around<00:23:01.840> two<00:23:02.039> minutes<00:23:02.360> for<00:23:02.760> another 00:23:03.669 --> 00:23:03.679 align:start position:0% do have around two minutes for another 00:23:03.679 --> 00:23:06.230 align:start position:0% do have around two minutes for another question<00:23:04.679> um<00:23:05.360> which<00:23:05.520> one<00:23:05.679> would<00:23:05.799> you<00:23:05.960> like<00:23:06.080> to 00:23:06.230 --> 00:23:06.240 align:start position:0% question um which one would you like to 00:23:06.240 --> 00:23:08.950 align:start position:0% question um which one would you like to take<00:23:06.559> Conor<00:23:07.480> um<00:23:08.320> well<00:23:08.520> I'll<00:23:08.640> go<00:23:08.720> for<00:23:08.880> the 00:23:08.950 --> 00:23:08.960 align:start position:0% take Conor um well I'll go for the 00:23:08.960 --> 00:23:11.870 align:start position:0% take Conor um well I'll go for the shorter<00:23:09.240> one<00:23:09.919> first<00:23:10.919> uh<00:23:11.120> if<00:23:11.279> Bas<00:23:11.720> has<00:23:11.799> a 00:23:11.870 --> 00:23:11.880 align:start position:0% shorter one first uh if Bas has a 00:23:11.880 --> 00:23:13.190 align:start position:0% shorter one first uh if Bas has a sustainable<00:23:12.240> and<00:23:12.360> positive<00:23:12.640> Revenue<00:23:13.000> can<00:23:13.080> it 00:23:13.190 --> 00:23:13.200 align:start position:0% sustainable and positive Revenue can it 00:23:13.200 --> 00:23:17.110 align:start position:0% sustainable and positive Revenue can it become<00:23:13.400> a<00:23:13.520> defacto<00:23:13.960> design<00:23:14.159> for<00:23:14.240> the<00:23:14.320> layer 00:23:17.110 --> 00:23:17.120 align:start position:0% 00:23:17.120 --> 00:23:20.549 align:start position:0% one<00:23:18.360> uh 00:23:20.549 --> 00:23:20.559 align:start position:0% one uh 00:23:20.559 --> 00:23:23.190 align:start position:0% one uh well<00:23:21.559> I<00:23:21.760> I<00:23:21.880> guess<00:23:22.039> so<00:23:22.279> right<00:23:22.520> like<00:23:22.919> at<00:23:23.000> some 00:23:23.190 --> 00:23:23.200 align:start position:0% well I I guess so right like at some 00:23:23.200 --> 00:23:25.390 align:start position:0% well I I guess so right like at some point<00:23:23.480> if<00:23:23.799> if<00:23:24.120> there<00:23:24.240> is<00:23:24.360> one<00:23:24.559> base<00:23:24.799> rup<00:23:25.200> that 00:23:25.390 --> 00:23:25.400 align:start position:0% point if if there is one base rup that 00:23:25.400 --> 00:23:28.110 align:start position:0% point if if there is one base rup that is<00:23:26.039> taking<00:23:26.320> up<00:23:26.480> all<00:23:26.600> of<00:23:26.720> the<00:23:27.039> all<00:23:27.159> of<00:23:27.320> the<00:23:27.760> L1 00:23:28.110 --> 00:23:28.120 align:start position:0% is taking up all of the all of the L1 00:23:28.120 --> 00:23:30.430 align:start position:0% is taking up all of the all of the L1 blocks<00:23:28.559> base<00:23:29.400> uh<00:23:29.679> is<00:23:29.799> in<00:23:30.000> that<00:23:30.159> that<00:23:30.240> is<00:23:30.320> a 00:23:30.430 --> 00:23:30.440 align:start position:0% blocks base uh is in that that is a 00:23:30.440 --> 00:23:32.630 align:start position:0% blocks base uh is in that that is a theoretical<00:23:31.080> possibility<00:23:31.720> with<00:23:32.240> uh<00:23:32.400> base 00:23:32.630 --> 00:23:32.640 align:start position:0% theoretical possibility with uh base 00:23:32.640 --> 00:23:34.909 align:start position:0% theoretical possibility with uh base wups<00:23:33.480> uh<00:23:34.000> that<00:23:34.159> all<00:23:34.320> the<00:23:34.400> computation<00:23:34.799> is 00:23:34.909 --> 00:23:34.919 align:start position:0% wups uh that all the computation is 00:23:34.919 --> 00:23:37.149 align:start position:0% wups uh that all the computation is being<00:23:35.120> done<00:23:35.840> off<00:23:36.039> chain<00:23:36.400> in<00:23:36.720> on<00:23:36.799> the<00:23:36.880> Bas 00:23:37.149 --> 00:23:37.159 align:start position:0% being done off chain in on the Bas 00:23:37.159 --> 00:23:39.830 align:start position:0% being done off chain in on the Bas rollup<00:23:38.159> uh<00:23:38.360> so<00:23:38.880> in<00:23:39.000> that 00:23:39.830 --> 00:23:39.840 align:start position:0% rollup uh so in that 00:23:39.840 --> 00:23:43.669 align:start position:0% rollup uh so in that sense<00:23:40.840> it<00:23:40.960> could<00:23:41.200> be<00:23:42.000> doing<00:23:42.360> all<00:23:42.520> of<00:23:42.720> the 00:23:43.669 --> 00:23:43.679 align:start position:0% sense it could be doing all of the 00:23:43.679 --> 00:23:45.830 align:start position:0% sense it could be doing all of the execution<00:23:44.159> for<00:23:44.360> the<00:23:44.520> for<00:23:44.720> the<00:23:44.880> L1<00:23:45.440> but<00:23:45.600> I'm<00:23:45.720> not 00:23:45.830 --> 00:23:45.840 align:start position:0% execution for the for the L1 but I'm not 00:23:45.840 --> 00:23:48.190 align:start position:0% execution for the for the L1 but I'm not sure<00:23:46.000> if<00:23:46.080> we<00:23:46.200> can<00:23:46.360> actually<00:23:47.159> replace<00:23:47.600> the<00:23:47.720> L1 00:23:48.190 --> 00:23:48.200 align:start position:0% sure if we can actually replace the L1 00:23:48.200 --> 00:23:49.630 align:start position:0% sure if we can actually replace the L1 because<00:23:48.600> it<00:23:48.679> is<00:23:48.919> it<00:23:49.000> is<00:23:49.159> being<00:23:49.320> still<00:23:49.480> being 00:23:49.630 --> 00:23:49.640 align:start position:0% because it is it is being still being 00:23:49.640 --> 00:23:52.149 align:start position:0% because it is it is being still being sequenced<00:23:50.080> by<00:23:50.200> the<00:23:50.279> L1<00:23:51.000> uh<00:23:51.159> so 00:23:52.149 --> 00:23:52.159 align:start position:0% sequenced by the L1 uh so 00:23:52.159 --> 00:23:54.190 align:start position:0% sequenced by the L1 uh so yeah<00:23:53.159> all<00:23:53.320> right<00:23:53.480> do<00:23:53.600> you<00:23:53.679> want<00:23:53.799> to<00:23:53.919> answer 00:23:54.190 --> 00:23:54.200 align:start position:0% yeah all right do you want to answer 00:23:54.200 --> 00:23:56.230 align:start position:0% yeah all right do you want to answer another<00:23:54.840> another<00:23:55.080> one<00:23:55.360> okay<00:23:55.559> uh<00:23:55.720> I'll<00:23:55.799> go<00:23:55.919> for 00:23:56.230 --> 00:23:56.240 align:start position:0% another another one okay uh I'll go for 00:23:56.240 --> 00:23:58.470 align:start position:0% another another one okay uh I'll go for short<00:23:56.400> one<00:23:56.880> uh<00:23:57.120> just<00:23:57.960> uh<00:23:58.080> what<00:23:58.200> is<00:23:58.320> the<00:23:58.440> the 00:23:58.470 --> 00:23:58.480 align:start position:0% short one uh just uh what is the the 00:23:58.480 --> 00:23:59.750 align:start position:0% short one uh just uh what is the the plan<00:23:58.640> to<00:23:58.760> increase<00:23:59.039> the<00:23:59.080> income<00:23:59.400> but<00:23:59.520> with<00:23:59.640> the 00:23:59.750 --> 00:23:59.760 align:start position:0% plan to increase the income but with the 00:23:59.760 --> 00:24:02.830 align:start position:0% plan to increase the income but with the scale<00:24:00.200> and<00:24:00.400> expenditure<00:24:01.400> uh<00:24:02.120> with<00:24:02.320> SC<00:24:02.640> with 00:24:02.830 --> 00:24:02.840 align:start position:0% scale and expenditure uh with SC with 00:24:02.840 --> 00:24:05.630 align:start position:0% scale and expenditure uh with SC with scale<00:24:03.200> the<00:24:03.440> expenditure<00:24:03.840> also<00:24:04.480> increases<00:24:05.480> uh 00:24:05.630 --> 00:24:05.640 align:start position:0% scale the expenditure also increases uh 00:24:05.640 --> 00:24:07.110 align:start position:0% scale the expenditure also increases uh yeah<00:24:05.760> that<00:24:05.880> is<00:24:05.960> a<00:24:06.080> tricky<00:24:06.320> one<00:24:06.520> so<00:24:06.679> it's<00:24:06.880> like 00:24:07.110 --> 00:24:07.120 align:start position:0% yeah that is a tricky one so it's like 00:24:07.120 --> 00:24:09.950 align:start position:0% yeah that is a tricky one so it's like again<00:24:07.559> we<00:24:07.679> have<00:24:07.799> to<00:24:07.919> take<00:24:08.039> a<00:24:08.159> BET<00:24:08.520> right<00:24:08.919> um<00:24:09.240> and 00:24:09.950 --> 00:24:09.960 align:start position:0% again we have to take a BET right um and 00:24:09.960 --> 00:24:11.789 align:start position:0% again we have to take a BET right um and we're<00:24:10.120> looking<00:24:10.360> in<00:24:10.480> the<00:24:10.600> fact<00:24:10.799> that<00:24:10.919> a<00:24:11.000> lot<00:24:11.159> of 00:24:11.789 --> 00:24:11.799 align:start position:0% we're looking in the fact that a lot of 00:24:11.799 --> 00:24:14.549 align:start position:0% we're looking in the fact that a lot of people<00:24:12.080> like<00:24:12.240> flash<00:24:13.039> Bots<00:24:14.039> uh<00:24:14.200> like<00:24:14.400> all<00:24:14.480> of 00:24:14.549 --> 00:24:14.559 align:start position:0% people like flash Bots uh like all of 00:24:14.559 --> 00:24:16.510 align:start position:0% people like flash Bots uh like all of the<00:24:14.640> ZK<00:24:14.919> teams<00:24:15.159> that<00:24:15.240> I<00:24:15.360> mentioned<00:24:16.279> they're 00:24:16.510 --> 00:24:16.520 align:start position:0% the ZK teams that I mentioned they're 00:24:16.520 --> 00:24:18.510 align:start position:0% the ZK teams that I mentioned they're plowing<00:24:16.919> ahead<00:24:17.279> with<00:24:17.559> improved<00:24:18.039> mechanism 00:24:18.510 --> 00:24:18.520 align:start position:0% plowing ahead with improved mechanism 00:24:18.520 --> 00:24:20.269 align:start position:0% plowing ahead with improved mechanism design<00:24:18.799> or<00:24:19.039> improved<00:24:19.360> proving<00:24:19.679> systems 00:24:20.269 --> 00:24:20.279 align:start position:0% design or improved proving systems 00:24:20.279 --> 00:24:22.789 align:start position:0% design or improved proving systems improved<00:24:20.600> mechanism<00:24:21.000> design<00:24:21.440> regardless<00:24:22.120> of 00:24:22.789 --> 00:24:22.799 align:start position:0% improved mechanism design regardless of 00:24:22.799 --> 00:24:25.590 align:start position:0% improved mechanism design regardless of let's<00:24:23.200> say<00:24:24.200> like<00:24:24.559> any<00:24:24.760> specific<00:24:25.120> end<00:24:25.360> game 00:24:25.590 --> 00:24:25.600 align:start position:0% let's say like any specific end game 00:24:25.600 --> 00:24:27.630 align:start position:0% let's say like any specific end game that<00:24:25.760> that<00:24:26.039> that<00:24:26.159> may<00:24:26.320> be<00:24:26.480> likely<00:24:27.039> uh<00:24:27.200> they're 00:24:27.630 --> 00:24:27.640 align:start position:0% that that that may be likely uh they're 00:24:27.640 --> 00:24:28.950 align:start position:0% that that that may be likely uh they're they're<00:24:27.760> trying<00:24:27.919> to<00:24:28.080> get<00:24:28.399> make<00:24:28.559> things 00:24:28.950 --> 00:24:28.960 align:start position:0% they're trying to get make things 00:24:28.960 --> 00:24:32.549 align:start position:0% they're trying to get make things cheaper<00:24:29.799> um<00:24:30.760> and<00:24:31.120> if<00:24:31.320> things<00:24:31.520> do<00:24:31.799> become 00:24:32.549 --> 00:24:32.559 align:start position:0% cheaper um and if things do become 00:24:32.559 --> 00:24:34.350 align:start position:0% cheaper um and if things do become incredibly<00:24:33.039> expensive<00:24:33.399> with<00:24:33.559> scale<00:24:34.159> we<00:24:34.240> can 00:24:34.350 --> 00:24:34.360 align:start position:0% incredibly expensive with scale we can 00:24:34.360 --> 00:24:36.669 align:start position:0% incredibly expensive with scale we can always<00:24:34.559> scale<00:24:34.880> back<00:24:35.279> right<00:24:36.279> will<00:24:36.440> definitely 00:24:36.669 --> 00:24:36.679 align:start position:0% always scale back right will definitely 00:24:36.679 --> 00:24:37.909 align:start position:0% always scale back right will definitely be<00:24:36.760> a<00:24:36.840> limit<00:24:37.080> to<00:24:37.200> the<00:24:37.320> amount<00:24:37.480> of<00:24:37.600> things<00:24:37.799> that 00:24:37.909 --> 00:24:37.919 align:start position:0% be a limit to the amount of things that 00:24:37.919 --> 00:24:39.230 align:start position:0% be a limit to the amount of things that we<00:24:38.000> can<00:24:38.120> merge<00:24:38.520> the<00:24:38.600> amount<00:24:38.760> of<00:24:38.840> state<00:24:39.039> that<00:24:39.159> we 00:24:39.230 --> 00:24:39.240 align:start position:0% we can merge the amount of state that we 00:24:39.240 --> 00:24:41.630 align:start position:0% we can merge the amount of state that we can<00:24:39.320> merge<00:24:40.320> uh<00:24:40.480> but<00:24:40.640> right<00:24:40.799> now<00:24:41.240> we<00:24:41.320> can<00:24:41.440> see 00:24:41.630 --> 00:24:41.640 align:start position:0% can merge uh but right now we can see 00:24:41.640 --> 00:24:44.070 align:start position:0% can merge uh but right now we can see that<00:24:42.320> single<00:24:42.600> rollups<00:24:43.080> can<00:24:43.360> survive<00:24:43.840> and<00:24:43.960> then 00:24:44.070 --> 00:24:44.080 align:start position:0% that single rollups can survive and then 00:24:44.080 --> 00:24:45.230 align:start position:0% that single rollups can survive and then it's<00:24:44.200> just<00:24:44.279> the<00:24:44.440> case<00:24:44.600> of<00:24:44.760> how<00:24:44.919> can<00:24:45.039> we 00:24:45.230 --> 00:24:45.240 align:start position:0% it's just the case of how can we 00:24:45.240 --> 00:24:47.310 align:start position:0% it's just the case of how can we actually<00:24:45.520> just<00:24:46.120> scale<00:24:46.480> up<00:24:46.799> that<00:24:47.159> uh<00:24:47.240> the 00:24:47.310 --> 00:24:47.320 align:start position:0% actually just scale up that uh the 00:24:47.320 --> 00:24:49.029 align:start position:0% actually just scale up that uh the merging<00:24:47.640> of<00:24:47.760> all<00:24:47.919> this<00:24:48.080> state<00:24:48.760> and<00:24:48.880> that's 00:24:49.029 --> 00:24:49.039 align:start position:0% merging of all this state and that's 00:24:49.039 --> 00:24:49.669 align:start position:0% merging of all this state and that's definitely<00:24:49.279> going<00:24:49.360> to<00:24:49.399> be<00:24:49.480> a<00:24:49.559> really 00:24:49.669 --> 00:24:49.679 align:start position:0% definitely going to be a really 00:24:49.679 --> 00:24:50.830 align:start position:0% definitely going to be a really interesting<00:24:50.080> question<00:24:50.360> but<00:24:50.480> we<00:24:50.559> can<00:24:50.640> always 00:24:50.830 --> 00:24:50.840 align:start position:0% interesting question but we can always 00:24:50.840 --> 00:24:52.990 align:start position:0% interesting question but we can always scale<00:24:51.120> back<00:24:51.320> that's<00:24:51.559> that's<00:24:51.720> the<00:24:51.880> key<00:24:52.880> all 00:24:52.990 --> 00:24:53.000 align:start position:0% scale back that's that's the key all 00:24:53.000 --> 00:24:54.470 align:start position:0% scale back that's that's the key all right<00:24:53.159> cool<00:24:53.360> so<00:24:53.520> we're<00:24:53.720> right<00:24:53.840> on<00:24:54.080> time<00:24:54.320> thank 00:24:54.470 --> 00:24:54.480 align:start position:0% right cool so we're right on time thank 00:24:54.480 --> 00:24:57.279 align:start position:0% right cool so we're right on time thank you<00:24:54.559> so<00:24:54.720> much<00:24:54.880> hunor