WEBVTT Kind: captions Language: en 00:00:01.070 --> 00:00:13.070 align:start position:0% [Applause] 00:00:13.070 --> 00:00:13.080 align:start position:0% 00:00:13.080 --> 00:00:15.510 align:start position:0% all<00:00:14.080> right<00:00:14.320> my<00:00:14.500> name<00:00:14.680> is<00:00:14.770> Hayden<00:00:14.950> adams<00:00:15.250> and 00:00:15.510 --> 00:00:15.520 align:start position:0% all right my name is Hayden adams and 00:00:15.520 --> 00:00:18.359 align:start position:0% all right my name is Hayden adams and i'm<00:00:15.760> the<00:00:15.940> founder<00:00:16.450> at<00:00:16.540> units<00:00:16.780> law<00:00:17.160> building<00:00:18.160> on 00:00:18.359 --> 00:00:18.369 align:start position:0% i'm the founder at units law building on 00:00:18.369 --> 00:00:20.420 align:start position:0% i'm the founder at units law building on your<00:00:18.460> phone<00:00:18.810> so<00:00:19.810> what<00:00:19.930> does<00:00:20.020> this<00:00:20.080> talk<00:00:20.260> about 00:00:20.420 --> 00:00:20.430 align:start position:0% your phone so what does this talk about 00:00:20.430 --> 00:00:22.440 align:start position:0% your phone so what does this talk about it<00:00:21.430> was<00:00:21.520> going<00:00:21.730> to<00:00:21.790> be<00:00:21.880> talking<00:00:22.060> about<00:00:22.150> gonna 00:00:22.440 --> 00:00:22.450 align:start position:0% it was going to be talking about gonna 00:00:22.450 --> 00:00:25.950 align:start position:0% it was going to be talking about gonna swap<00:00:22.720> but<00:00:23.470> now<00:00:24.460> it's<00:00:24.640> a<00:00:24.670> weather<00:00:24.850> advisory<00:00:25.150> a 00:00:25.950 --> 00:00:25.960 align:start position:0% swap but now it's a weather advisory a 00:00:25.960 --> 00:00:29.519 align:start position:0% swap but now it's a weather advisory a hurricane<00:00:26.619> in<00:00:26.740> the<00:00:26.770> top<00:00:27.009> of<00:00:27.130> the<00:00:27.189> site<00:00:28.529> in 00:00:29.519 --> 00:00:29.529 align:start position:0% hurricane in the top of the site in 00:00:29.529 --> 00:00:31.980 align:start position:0% hurricane in the top of the site in north<00:00:29.890> pacific<00:00:30.009> any<00:00:30.880> signor<00:00:31.270> tested<00:00:31.570> a 00:00:31.980 --> 00:00:31.990 align:start position:0% north pacific any signor tested a 00:00:31.990 --> 00:00:34.050 align:start position:0% north pacific any signor tested a typhoon<00:00:32.710> is<00:00:32.860> a<00:00:32.890> tropical<00:00:33.370> cyclone<00:00:33.489> that<00:00:33.760> takes 00:00:34.050 --> 00:00:34.060 align:start position:0% typhoon is a tropical cyclone that takes 00:00:34.060 --> 00:00:36.569 align:start position:0% typhoon is a tropical cyclone that takes place<00:00:34.270> in<00:00:34.390> the<00:00:34.480> Northwest<00:00:34.900> Pacific<00:00:35.579> super 00:00:36.569 --> 00:00:36.579 align:start position:0% place in the Northwest Pacific super 00:00:36.579 --> 00:00:38.310 align:start position:0% place in the Northwest Pacific super typhoon<00:00:36.910> to<00:00:37.060> give<00:00:37.180> this<00:00:37.300> is<00:00:37.540> a<00:00:37.690> category<00:00:37.989> 5 00:00:38.310 --> 00:00:38.320 align:start position:0% typhoon to give this is a category 5 00:00:38.320 --> 00:00:44.010 align:start position:0% typhoon to give this is a category 5 hurricane<00:00:41.610> is<00:00:42.690> on<00:00:43.690> its<00:00:43.840> way 00:00:44.010 --> 00:00:44.020 align:start position:0% hurricane is on its way 00:00:44.020 --> 00:00:45.450 align:start position:0% hurricane is on its way all<00:00:44.740> right<00:00:44.920> what<00:00:45.100> does<00:00:45.190> this<00:00:45.250> talked<00:00:45.430> about 00:00:45.450 --> 00:00:45.460 align:start position:0% all right what does this talked about 00:00:45.460 --> 00:00:49.110 align:start position:0% all right what does this talked about this<00:00:46.710> talked<00:00:47.710> about<00:00:47.740> you<00:00:48.100> know<00:00:48.220> spot<00:00:48.430> it's 00:00:49.110 --> 00:00:49.120 align:start position:0% this talked about you know spot it's 00:00:49.120 --> 00:00:51.060 align:start position:0% this talked about you know spot it's about<00:00:49.270> what<00:00:49.510> can<00:00:49.630> be<00:00:49.660> built<00:00:49.900> on<00:00:50.050> it<00:00:50.170> today<00:00:50.380> it's 00:00:51.060 --> 00:00:51.070 align:start position:0% about what can be built on it today it's 00:00:51.070 --> 00:00:53.790 align:start position:0% about what can be built on it today it's about<00:00:51.130> how<00:00:51.430> we<00:00:51.490> can<00:00:51.730> expand<00:00:52.060> its<00:00:52.210> utility<00:00:52.800> you 00:00:53.790 --> 00:00:53.800 align:start position:0% about how we can expand its utility you 00:00:53.800 --> 00:00:55.200 align:start position:0% about how we can expand its utility you know<00:00:53.920> and<00:00:54.190> you<00:00:54.280> as<00:00:54.370> well<00:00:54.430> version<00:00:54.820> two<00:00:54.970> and 00:00:55.200 --> 00:00:55.210 align:start position:0% know and you as well version two and 00:00:55.210 --> 00:00:57.300 align:start position:0% know and you as well version two and then<00:00:55.780> how<00:00:55.990> we<00:00:56.050> can<00:00:56.170> skill<00:00:56.530> you<00:00:56.650> as<00:00:56.770> well<00:00:56.980> while 00:00:57.300 --> 00:00:57.310 align:start position:0% then how we can skill you as well while 00:00:57.310 --> 00:01:00.300 align:start position:0% then how we can skill you as well while retaining<00:00:57.610> its<00:00:57.760> utility<00:00:58.800> so<00:00:59.800> what<00:01:00.100> is<00:01:00.190> you 00:01:00.300 --> 00:01:00.310 align:start position:0% retaining its utility so what is you 00:01:00.310 --> 00:01:02.130 align:start position:0% retaining its utility so what is you know<00:01:00.400> swap<00:01:00.610> its<00:01:01.270> first<00:01:01.510> and<00:01:01.690> foremost<00:01:01.990> in 00:01:02.130 --> 00:01:02.140 align:start position:0% know swap its first and foremost in 00:01:02.140 --> 00:01:04.740 align:start position:0% know swap its first and foremost in decentralized<00:01:02.740> exchange<00:01:02.890> protocol<00:01:03.520> and<00:01:04.390> it 00:01:04.740 --> 00:01:04.750 align:start position:0% decentralized exchange protocol and it 00:01:04.750 --> 00:01:07.109 align:start position:0% decentralized exchange protocol and it makes<00:01:04.960> use<00:01:05.110> of<00:01:05.229> automated<00:01:05.770> market<00:01:06.070> making<00:01:06.250> it 00:01:07.109 --> 00:01:07.119 align:start position:0% makes use of automated market making it 00:01:07.119 --> 00:01:08.460 align:start position:0% makes use of automated market making it makes<00:01:07.360> use<00:01:07.479> of<00:01:07.600> pooled<00:01:07.900> and<00:01:08.110> tokenize 00:01:08.460 --> 00:01:08.470 align:start position:0% makes use of pooled and tokenize 00:01:08.470 --> 00:01:10.289 align:start position:0% makes use of pooled and tokenize liquidity<00:01:09.070> but<00:01:09.520> what<00:01:09.640> that<00:01:09.759> means<00:01:09.939> is<00:01:10.090> in<00:01:10.270> a 00:01:10.289 --> 00:01:10.299 align:start position:0% liquidity but what that means is in a 00:01:10.299 --> 00:01:12.179 align:start position:0% liquidity but what that means is in a and<00:01:10.720> a<00:01:10.990> traditional<00:01:11.470> exchange<00:01:11.650> you<00:01:12.009> kind<00:01:12.159> of 00:01:12.179 --> 00:01:12.189 align:start position:0% and a traditional exchange you kind of 00:01:12.189 --> 00:01:13.830 align:start position:0% and a traditional exchange you kind of have<00:01:12.340> buyers<00:01:12.700> and<00:01:12.880> sellers<00:01:13.180> matched<00:01:13.420> up<00:01:13.600> on<00:01:13.750> an 00:01:13.830 --> 00:01:13.840 align:start position:0% have buyers and sellers matched up on an 00:01:13.840 --> 00:01:16.410 align:start position:0% have buyers and sellers matched up on an order<00:01:14.050> bus<00:01:14.200> in<00:01:15.010> unity<00:01:15.640> sort<00:01:15.820> of<00:01:15.880> automate<00:01:16.270> that 00:01:16.410 --> 00:01:16.420 align:start position:0% order bus in unity sort of automate that 00:01:16.420 --> 00:01:18.060 align:start position:0% order bus in unity sort of automate that whole<00:01:16.570> process<00:01:16.810> and<00:01:17.260> then<00:01:17.590> you<00:01:17.680> gives<00:01:17.890> people 00:01:18.060 --> 00:01:18.070 align:start position:0% whole process and then you gives people 00:01:18.070 --> 00:01:19.950 align:start position:0% whole process and then you gives people a<00:01:18.220> token<00:01:18.610> that<00:01:18.640> sort<00:01:18.940> of<00:01:19.000> represents<00:01:19.480> their 00:01:19.950 --> 00:01:19.960 align:start position:0% a token that sort of represents their 00:01:19.960 --> 00:01:22.649 align:start position:0% a token that sort of represents their position<00:01:20.880> it's<00:01:21.880> easy<00:01:22.120> to<00:01:22.210> understand<00:01:22.600> that 00:01:22.649 --> 00:01:22.659 align:start position:0% position it's easy to understand that 00:01:22.659 --> 00:01:24.000 align:start position:0% position it's easy to understand that youth<00:01:22.840> and<00:01:23.170> that's<00:01:23.380> one<00:01:23.770> of<00:01:23.800> the<00:01:23.920> most 00:01:24.000 --> 00:01:24.010 align:start position:0% youth and that's one of the most 00:01:24.010 --> 00:01:26.450 align:start position:0% youth and that's one of the most important<00:01:24.430> things<00:01:24.570> so<00:01:25.570> why<00:01:25.720> they<00:01:25.900> need<00:01:26.050> it 00:01:26.450 --> 00:01:26.460 align:start position:0% important things so why they need it 00:01:26.460 --> 00:01:28.740 align:start position:0% important things so why they need it first<00:01:27.460> it<00:01:27.729> lowers<00:01:28.030> the<00:01:28.120> barrier<00:01:28.360> of<00:01:28.479> entry<00:01:28.540> to 00:01:28.740 --> 00:01:28.750 align:start position:0% first it lowers the barrier of entry to 00:01:28.750 --> 00:01:31.320 align:start position:0% first it lowers the barrier of entry to the<00:01:28.960> participation<00:01:29.409> in<00:01:29.620> fines<00:01:29.950> so<00:01:30.760> can<00:01:31.300> you 00:01:31.320 --> 00:01:31.330 align:start position:0% the participation in fines so can you 00:01:31.330 --> 00:01:33.660 align:start position:0% the participation in fines so can you stop<00:01:31.659> anyone<00:01:31.960> can<00:01:32.140> be<00:01:32.229> a<00:01:32.260> market<00:01:32.560> maker<00:01:32.670> this 00:01:33.660 --> 00:01:33.670 align:start position:0% stop anyone can be a market maker this 00:01:33.670 --> 00:01:35.130 align:start position:0% stop anyone can be a market maker this is<00:01:33.729> the<00:01:34.030> current<00:01:34.360> distribution<00:01:34.420> of<00:01:34.900> market 00:01:35.130 --> 00:01:35.140 align:start position:0% is the current distribution of market 00:01:35.140 --> 00:01:37.190 align:start position:0% is the current distribution of market makers<00:01:35.350> on<00:01:35.470> you<00:01:35.560> as<00:01:35.650> well<00:01:35.710> as<00:01:36.040> a<00:01:36.100> few<00:01:36.400> weeks<00:01:36.550> ago 00:01:37.190 --> 00:01:37.200 align:start position:0% makers on you as well as a few weeks ago 00:01:37.200 --> 00:01:40.080 align:start position:0% makers on you as well as a few weeks ago about<00:01:38.200> 25<00:01:38.710> percent<00:01:39.070> of<00:01:39.100> people<00:01:39.280> in<00:01:39.490> the<00:01:39.610> 2.5 00:01:40.080 --> 00:01:40.090 align:start position:0% about 25 percent of people in the 2.5 00:01:40.090 --> 00:01:42.570 align:start position:0% about 25 percent of people in the 2.5 billion<00:01:40.360> dollars<00:01:40.530> dipole<00:01:41.530> come<00:01:42.100> from<00:01:42.280> users 00:01:42.570 --> 00:01:42.580 align:start position:0% billion dollars dipole come from users 00:01:42.580 --> 00:01:43.410 align:start position:0% billion dollars dipole come from users who<00:01:42.610> but<00:01:42.880> who<00:01:43.120> you 00:01:43.410 --> 00:01:43.420 align:start position:0% who but who you 00:01:43.420 --> 00:01:45.870 align:start position:0% who but who you less<00:01:43.509> than<00:01:43.659> 1%<00:01:44.439> so<00:01:44.830> it<00:01:45.130> basically<00:01:45.250> allows<00:01:45.610> you 00:01:45.870 --> 00:01:45.880 align:start position:0% less than 1% so it basically allows you 00:01:45.880 --> 00:01:47.700 align:start position:0% less than 1% so it basically allows you to<00:01:45.939> pull<00:01:46.540> together<00:01:46.689> a<00:01:46.900> lot<00:01:47.080> of<00:01:47.170> small<00:01:47.380> market 00:01:47.700 --> 00:01:47.710 align:start position:0% to pull together a lot of small market 00:01:47.710 --> 00:01:49.920 align:start position:0% to pull together a lot of small market makers<00:01:47.979> and<00:01:48.220> do<00:01:49.180> what<00:01:49.360> used<00:01:49.509> to<00:01:49.570> be<00:01:49.630> only<00:01:49.840> a 00:01:49.920 --> 00:01:49.930 align:start position:0% makers and do what used to be only a 00:01:49.930 --> 00:01:53.310 align:start position:0% makers and do what used to be only a whales<00:01:50.140> game<00:01:51.509> anyone<00:01:52.509> can<00:01:52.689> create<00:01:52.869> analyst<00:01:53.200> an 00:01:53.310 --> 00:01:53.320 align:start position:0% whales game anyone can create analyst an 00:01:53.320 --> 00:01:55.950 align:start position:0% whales game anyone can create analyst an asset<00:01:53.680> this<00:01:53.860> is<00:01:53.979> super<00:01:54.220> important<00:01:54.689> in<00:01:55.689> units 00:01:55.950 --> 00:01:55.960 align:start position:0% asset this is super important in units 00:01:55.960 --> 00:01:58.260 align:start position:0% asset this is super important in units WAP<00:01:56.110> right<00:01:56.259> now<00:01:56.380> is<00:01:56.560> over<00:01:56.680> 800<00:01:56.920> tokens<00:01:57.520> about 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00:02:05.350 align:start position:0% Nasdaq or even on essentially are on a 00:02:05.350 --> 00:02:07.770 align:start position:0% Nasdaq or even on essentially are on a centralized<00:02:05.740> exchange<00:02:05.890> or<00:02:06.280> even<00:02:06.490> on<00:02:06.580> us<00:02:07.210> sort 00:02:07.770 --> 00:02:07.780 align:start position:0% centralized exchange or even on us sort 00:02:07.780 --> 00:02:09.660 align:start position:0% centralized exchange or even on us sort of<00:02:07.869> off<00:02:08.259> chain<00:02:08.619> order<00:02:08.890> both<00:02:09.039> decentralized<00:02:09.580> to 00:02:09.660 --> 00:02:09.670 align:start position:0% of off chain order both decentralized to 00:02:09.670 --> 00:02:12.900 align:start position:0% of off chain order both decentralized to sync<00:02:09.910> this<00:02:11.100> anyone<00:02:12.100> can<00:02:12.130> build<00:02:12.370> on<00:02:12.489> top<00:02:12.610> of<00:02:12.670> it 00:02:12.900 --> 00:02:12.910 align:start position:0% sync this anyone can build on top of it 00:02:12.910 --> 00:02:15.350 align:start position:0% sync this anyone can build on top of it and<00:02:13.060> this<00:02:13.180> is<00:02:13.330> more<00:02:13.510> the<00:02:13.660> topic<00:02:13.989> of<00:02:14.110> this<00:02:14.530> talk 00:02:15.350 --> 00:02:15.360 align:start position:0% and this is more the topic of this talk 00:02:15.360 --> 00:02:17.460 align:start position:0% and this is more the topic of this talk part<00:02:16.360> of<00:02:16.420> the<00:02:16.480> reason<00:02:16.690> for<00:02:16.810> that<00:02:16.870> is<00:02:17.080> it's<00:02:17.260> all 00:02:17.460 --> 00:02:17.470 align:start position:0% part of the reason for that is it's all 00:02:17.470 --> 00:02:18.090 align:start position:0% part of the reason for that is it's all open<00:02:17.620> source 00:02:18.090 --> 00:02:18.100 align:start position:0% open source 00:02:18.100 --> 00:02:20.220 align:start position:0% open source the<00:02:18.700> open<00:02:18.910> source<00:02:19.030> front-end<00:02:19.450> documentation 00:02:20.220 --> 00:02:20.230 align:start position:0% the open source front-end documentation 00:02:20.230 --> 00:02:23.550 align:start position:0% the open source front-end documentation or<00:02:20.800> contact<00:02:21.250> SDK<00:02:22.150> and<00:02:22.750> so<00:02:22.930> you<00:02:23.319> know<00:02:23.410> since 00:02:23.550 --> 00:02:23.560 align:start position:0% or contact SDK and so you know since 00:02:23.560 --> 00:02:25.380 align:start position:0% or contact SDK and so you know since they<00:02:23.709> launched<00:02:23.890> last<00:02:24.160> November<00:02:24.580> in<00:02:24.760> a<00:02:25.090> number 00:02:25.380 --> 00:02:25.390 align:start position:0% they launched last November in a number 00:02:25.390 --> 00:02:27.509 align:start position:0% they launched last November in a number of<00:02:25.420> projects<00:02:25.870> have<00:02:26.739> started<00:02:27.069> building<00:02:27.190> on<00:02:27.400> top 00:02:27.509 --> 00:02:27.519 align:start position:0% of projects have started building on top 00:02:27.519 --> 00:02:30.509 align:start position:0% of projects have started building on top of<00:02:27.670> it<00:02:27.790> so<00:02:28.709> like<00:02:29.709> one<00:02:29.920> of<00:02:30.010> the<00:02:30.100> one<00:02:30.340> of<00:02:30.370> these 00:02:30.509 --> 00:02:30.519 align:start position:0% of it so like one of the one of these 00:02:30.519 --> 00:02:32.460 align:start position:0% of it so like one of the one of these faces<00:02:30.910> right<00:02:31.060> now<00:02:31.120> it<00:02:31.870> seems<00:02:31.989> like<00:02:32.200> a<00:02:32.230> lot<00:02:32.380> of 00:02:32.460 --> 00:02:32.470 align:start position:0% faces right now it seems like a lot of 00:02:32.470 --> 00:02:35.220 align:start position:0% faces right now it seems like a lot of demand<00:02:33.100> for<00:02:33.130> trading<00:02:33.430> tokens<00:02:33.640> on<00:02:34.090> material<00:02:34.480> so 00:02:35.220 --> 00:02:35.230 align:start position:0% demand for trading tokens on material so 00:02:35.230 --> 00:02:37.620 align:start position:0% demand for trading tokens on material so trading<00:02:35.620> interfaces<00:02:36.190> wallets<00:02:37.060> deft 00:02:37.620 --> 00:02:37.630 align:start position:0% trading interfaces wallets deft 00:02:37.630 --> 00:02:40.350 align:start position:0% trading interfaces wallets deft aggregators<00:02:38.230> and<00:02:38.850> then<00:02:39.850> we<00:02:39.940> have<00:02:40.090> you<00:02:40.330> know 00:02:40.350 --> 00:02:40.360 align:start position:0% aggregators and then we have you know 00:02:40.360 --> 00:02:41.759 align:start position:0% aggregators and then we have you know some<00:02:40.780> people<00:02:40.930> want<00:02:41.170> to<00:02:41.230> use<00:02:41.290> it<00:02:41.380> to<00:02:41.650> earn 00:02:41.759 --> 00:02:41.769 align:start position:0% some people want to use it to earn 00:02:41.769 --> 00:02:45.600 align:start position:0% some people want to use it to earn interest<00:02:42.489> as<00:02:43.120> a<00:02:43.180> market<00:02:43.840> maker<00:02:44.489> what<00:02:45.489> they're 00:02:45.600 --> 00:02:45.610 align:start position:0% interest as a market maker what they're 00:02:45.610 --> 00:02:47.309 align:start position:0% interest as a market maker what they're doing<00:02:45.880> is<00:02:46.000> they're<00:02:46.120> maintaining<00:02:46.510> a<00:02:46.750> 50/50 00:02:47.309 --> 00:02:47.319 align:start position:0% doing is they're maintaining a 50/50 00:02:47.319 --> 00:02:49.800 align:start position:0% doing is they're maintaining a 50/50 ratio<00:02:47.470> in<00:02:48.280> the<00:02:48.489> New<00:02:48.579> York<00:02:48.640> when<00:02:48.970> a<00:02:49.000> token<00:02:49.359> and 00:02:49.800 --> 00:02:49.810 align:start position:0% ratio in the New York when a token and 00:02:49.810 --> 00:02:52.110 align:start position:0% ratio in the New York when a token and then<00:02:49.959> they're<00:02:50.109> burning<00:02:50.290> fees<00:02:51.220> on<00:02:51.760> trades 00:02:52.110 --> 00:02:52.120 align:start position:0% then they're burning fees on trades 00:02:52.120 --> 00:02:55.620 align:start position:0% then they're burning fees on trades between<00:02:52.269> the<00:02:52.510> two<00:02:53.489> you<00:02:54.489> could<00:02:54.700> one<00:02:55.209> option<00:02:55.570> you 00:02:55.620 --> 00:02:55.630 align:start position:0% between the two you could one option you 00:02:55.630 --> 00:02:56.880 align:start position:0% between the two you could one option you could<00:02:55.750> do<00:02:55.840> is<00:02:55.959> you<00:02:56.049> could<00:02:56.170> use<00:02:56.350> that<00:02:56.560> liquidity 00:02:56.880 --> 00:02:56.890 align:start position:0% could do is you could use that liquidity 00:02:56.890 --> 00:02:59.099 align:start position:0% could do is you could use that liquidity as<00:02:57.340> collateral<00:02:57.670> take<00:02:58.269> out<00:02:58.420> a<00:02:58.450> loan<00:02:58.630> against<00:02:58.959> it 00:02:59.099 --> 00:02:59.109 align:start position:0% as collateral take out a loan against it 00:02:59.109 --> 00:03:00.840 align:start position:0% as collateral take out a loan against it basically<00:02:59.739> be<00:03:00.040> able<00:03:00.100> to<00:03:00.250> leverage<00:03:00.430> up<00:03:00.670> on 00:03:00.840 --> 00:03:00.850 align:start position:0% basically be able to leverage up on 00:03:00.850 --> 00:03:04.890 align:start position:0% basically be able to leverage up on market<00:03:01.120> making<00:03:03.030> another<00:03:04.030> option<00:03:04.420> is<00:03:04.540> create<00:03:04.870> a 00:03:04.890 --> 00:03:04.900 align:start position:0% market making another option is create a 00:03:04.900 --> 00:03:06.030 align:start position:0% market making another option is create a liquidity<00:03:05.079> source<00:03:05.470> gonna<00:03:05.650> have<00:03:05.739> a<00:03:05.769> patient 00:03:06.030 --> 00:03:06.040 align:start position:0% liquidity source gonna have a patient 00:03:06.040 --> 00:03:08.250 align:start position:0% liquidity source gonna have a patient you<00:03:06.100> care<00:03:06.280> about<00:03:06.519> so<00:03:06.790> make<00:03:07.000> your<00:03:07.120> doubt<00:03:07.299> but 00:03:08.250 --> 00:03:08.260 align:start position:0% you care about so make your doubt but 00:03:08.260 --> 00:03:09.990 align:start position:0% you care about so make your doubt but it's<00:03:08.440> a<00:03:08.500> lot<00:03:08.620> or<00:03:08.799> there's<00:03:08.859> a<00:03:09.010> lot<00:03:09.100> of<00:03:09.190> MKR<00:03:09.549> is<00:03:09.880> a 00:03:09.990 --> 00:03:10.000 align:start position:0% it's a lot or there's a lot of MKR is a 00:03:10.000 --> 00:03:12.660 align:start position:0% it's a lot or there's a lot of MKR is a lot<00:03:10.150> of<00:03:10.239> Spain<00:03:10.480> and<00:03:11.380> the<00:03:11.769> reason<00:03:12.040> is<00:03:12.160> tokens 00:03:12.660 --> 00:03:12.670 align:start position:0% lot of Spain and the reason is tokens 00:03:12.670 --> 00:03:13.740 align:start position:0% lot of Spain and the reason is tokens like<00:03:12.760> spank<00:03:13.030> have<00:03:13.180> a<00:03:13.209> really<00:03:13.420> hard<00:03:13.600> time 00:03:13.740 --> 00:03:13.750 align:start position:0% like spank have a really hard time 00:03:13.750 --> 00:03:15.870 align:start position:0% like spank have a really hard time getting<00:03:13.810> listed<00:03:14.230> on<00:03:14.859> exchanges<00:03:15.459> because 00:03:15.870 --> 00:03:15.880 align:start position:0% getting listed on exchanges because 00:03:15.880 --> 00:03:16.920 align:start position:0% getting listed on exchanges because they're<00:03:16.209> about<00:03:16.329> to<00:03:16.570> do<00:03:16.660> if<00:03:16.720> you<00:03:16.810> don't 00:03:16.920 --> 00:03:16.930 align:start position:0% they're about to do if you don't 00:03:16.930 --> 00:03:20.370 align:start position:0% they're about to do if you don't industry<00:03:18.390> some<00:03:19.390> people<00:03:19.660> and<00:03:19.900> this<00:03:20.019> is<00:03:20.170> the<00:03:20.260> one 00:03:20.370 --> 00:03:20.380 align:start position:0% industry some people and this is the one 00:03:20.380 --> 00:03:21.780 align:start position:0% industry some people and this is the one that<00:03:20.500> I'm<00:03:20.590> more<00:03:20.769> interested<00:03:20.920> in<00:03:21.220> its<00:03:21.640> like 00:03:21.780 --> 00:03:21.790 align:start position:0% that I'm more interested in its like 00:03:21.790 --> 00:03:23.370 align:start position:0% that I'm more interested in its like integrating<00:03:22.060> eunice<00:03:22.510> walk<00:03:22.660> directly<00:03:22.959> inside 00:03:23.370 --> 00:03:23.380 align:start position:0% integrating eunice walk directly inside 00:03:23.380 --> 00:03:26.309 align:start position:0% integrating eunice walk directly inside of<00:03:23.530> applications<00:03:24.070> so<00:03:25.000> for<00:03:25.660> example<00:03:26.019> you<00:03:26.140> could 00:03:26.309 --> 00:03:26.319 align:start position:0% of applications so for example you could 00:03:26.319 --> 00:03:28.680 align:start position:0% of applications so for example you could you<00:03:26.680> know<00:03:26.769> locked<00:03:27.280> up<00:03:27.519> eat<00:03:28.030> and<00:03:28.359> maybe 00:03:28.680 --> 00:03:28.690 align:start position:0% you know locked up eat and maybe 00:03:28.690 --> 00:03:30.479 align:start position:0% you know locked up eat and maybe devoured<00:03:29.290> ice<00:03:29.410> Popp<00:03:29.859> that<00:03:30.040> die<00:03:30.160> for<00:03:30.340> eat 00:03:30.479 --> 00:03:30.489 align:start position:0% devoured ice Popp that die for eat 00:03:30.489 --> 00:03:32.280 align:start position:0% devoured ice Popp that die for eat locked<00:03:30.940> out<00:03:31.090> and<00:03:31.359> make<00:03:31.720> it<00:03:31.750> out 00:03:32.280 --> 00:03:32.290 align:start position:0% locked out and make it out 00:03:32.290 --> 00:03:33.800 align:start position:0% locked out and make it out you<00:03:32.379> can<00:03:32.530> kind<00:03:32.680> of<00:03:32.709> loop<00:03:32.890> through<00:03:33.129> protocols 00:03:33.800 --> 00:03:33.810 align:start position:0% you can kind of loop through protocols 00:03:33.810 --> 00:03:36.839 align:start position:0% you can kind of loop through protocols to<00:03:34.810> leverage<00:03:35.049> out<00:03:35.230> though<00:03:36.099> they've<00:03:36.310> been<00:03:36.340> you 00:03:36.839 --> 00:03:36.849 align:start position:0% to leverage out though they've been you 00:03:36.849 --> 00:03:38.130 align:start position:0% to leverage out though they've been you know<00:03:36.939> some<00:03:37.150> projects<00:03:37.480> have<00:03:37.689> tried<00:03:37.870> this<00:03:37.989> out 00:03:38.130 --> 00:03:38.140 align:start position:0% know some projects have tried this out 00:03:38.140 --> 00:03:41.000 align:start position:0% know some projects have tried this out like<00:03:38.470> open<00:03:38.799> new<00:03:39.459> odessa<00:03:39.790> and<00:03:39.849> stuff<00:03:40.060> like<00:03:40.180> this 00:03:41.000 --> 00:03:41.010 align:start position:0% like open new odessa and stuff like this 00:03:41.010 --> 00:03:43.319 align:start position:0% like open new odessa and stuff like this but<00:03:42.010> what<00:03:42.129> we<00:03:42.159> really<00:03:42.489> want<00:03:42.519> to<00:03:42.730> do<00:03:42.819> is<00:03:43.060> we<00:03:43.150> want 00:03:43.319 --> 00:03:43.329 align:start position:0% but what we really want to do is we want 00:03:43.329 --> 00:03:45.059 align:start position:0% but what we really want to do is we want to<00:03:43.390> improve<00:03:43.569> you<00:03:43.750> as<00:03:43.840> well<00:03:44.079> so<00:03:44.620> they<00:03:44.709> can<00:03:44.739> serve 00:03:45.059 --> 00:03:45.069 align:start position:0% to improve you as well so they can serve 00:03:45.069 --> 00:03:48.089 align:start position:0% to improve you as well so they can serve more<00:03:45.250> uses<00:03:45.760> than<00:03:45.790> I<00:03:46.000> just<00:03:46.060> innate<00:03:46.480> and<00:03:47.290> we're 00:03:48.089 --> 00:03:48.099 align:start position:0% more uses than I just innate and we're 00:03:48.099 --> 00:03:49.649 align:start position:0% more uses than I just innate and we're gonna<00:03:48.220> do<00:03:48.370> that<00:03:48.400> weekend<00:03:48.849> as<00:03:48.970> well<00:03:49.180> version 00:03:49.649 --> 00:03:49.659 align:start position:0% gonna do that weekend as well version 00:03:49.659 --> 00:03:54.569 align:start position:0% gonna do that weekend as well version two<00:03:50.340> okay<00:03:51.340> so<00:03:51.370> the<00:03:51.730> first<00:03:52.299> and<00:03:52.799> most<00:03:53.799> and<00:03:54.190> one 00:03:54.569 --> 00:03:54.579 align:start position:0% two okay so the first and most and one 00:03:54.579 --> 00:03:56.580 align:start position:0% two okay so the first and most and one of<00:03:54.670> my<00:03:54.730> favorite<00:03:55.060> features<00:03:55.840> is<00:03:56.530> a 00:03:56.580 --> 00:03:56.590 align:start position:0% of my favorite features is a 00:03:56.590 --> 00:03:59.699 align:start position:0% of my favorite features is a decentralized<00:03:57.099> price<00:03:57.459> horrible<00:03:58.379> the<00:03:59.379> second 00:03:59.699 --> 00:03:59.709 align:start position:0% decentralized price horrible the second 00:03:59.709 --> 00:04:01.319 align:start position:0% decentralized price horrible the second is<00:03:59.799> you<00:04:00.250> know<00:04:00.340> direct<00:04:00.640> gives<00:04:00.819> you<00:04:00.940> twenty<00:04:01.180> two 00:04:01.319 --> 00:04:01.329 align:start position:0% is you know direct gives you twenty two 00:04:01.329 --> 00:04:03.300 align:start position:0% is you know direct gives you twenty two or<00:04:01.450> three<00:04:01.599> twenty<00:04:01.810> pairs<00:04:02.019> now<00:04:02.799> Eunice<00:04:03.129> Bob 00:04:03.300 --> 00:04:03.310 align:start position:0% or three twenty pairs now Eunice Bob 00:04:03.310 --> 00:04:05.789 align:start position:0% or three twenty pairs now Eunice Bob Forsyth<00:04:03.849> all<00:04:03.970> tokens<00:04:04.329> to<00:04:04.480> be<00:04:04.569> parody<00:04:05.049> and 00:04:05.789 --> 00:04:05.799 align:start position:0% Forsyth all tokens to be parody and 00:04:05.799 --> 00:04:07.259 align:start position:0% Forsyth all tokens to be parody and there's<00:04:06.040> a<00:04:06.099> lot<00:04:06.220> of<00:04:06.250> is<00:04:06.489> a<00:04:06.519> big<00:04:07.060> advantage 00:04:07.259 --> 00:04:07.269 align:start position:0% there's a lot of is a big advantage 00:04:07.269 --> 00:04:09.449 align:start position:0% there's a lot of is a big advantage there<00:04:07.540> and<00:04:07.989> they've<00:04:08.200> also<00:04:08.769> some<00:04:09.040> versatility 00:04:09.449 --> 00:04:09.459 align:start position:0% there and they've also some versatility 00:04:09.459 --> 00:04:12.449 align:start position:0% there and they've also some versatility versatility<00:04:10.060> that<00:04:10.239> you<00:04:10.389> can<00:04:10.599> get<00:04:11.459> allowing 00:04:12.449 --> 00:04:12.459 align:start position:0% versatility that you can get allowing 00:04:12.459 --> 00:04:14.670 align:start position:0% versatility that you can get allowing arbitrary<00:04:12.879> pairs<00:04:13.180> and<00:04:14.139> finally<00:04:14.500> we've 00:04:14.670 --> 00:04:14.680 align:start position:0% arbitrary pairs and finally we've 00:04:14.680 --> 00:04:16.680 align:start position:0% arbitrary pairs and finally we've refactored<00:04:15.069> the<00:04:15.340> entire<00:04:15.579> code<00:04:15.819> base<00:04:15.849> to<00:04:16.299> make 00:04:16.680 --> 00:04:16.690 align:start position:0% refactored the entire code base to make 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align:start position:0% so how do these Oracle's work well the idea<00:04:25.120> of<00:04:25.150> the<00:04:25.210> Oracle's<00:04:25.600> that<00:04:25.660> that<00:04:25.900> it 00:04:26.159 --> 00:04:26.169 align:start position:0% idea of the Oracle's that that it 00:04:26.169 --> 00:04:28.560 align:start position:0% idea of the Oracle's that that it provides<00:04:26.530> a<00:04:26.650> maximally<00:04:27.160> decentralized<00:04:27.789> chain 00:04:28.560 --> 00:04:28.570 align:start position:0% provides a maximally decentralized chain 00:04:28.570 --> 00:04:31.260 align:start position:0% provides a maximally decentralized chain pricey<00:04:28.930> for<00:04:29.110> any<00:04:29.470> RC<00:04:29.800> 20<00:04:30.039> token<00:04:30.370> with<00:04:30.970> a<00:04:31.060> very 00:04:31.260 --> 00:04:31.270 align:start position:0% pricey for any RC 20 token with a very 00:04:31.270 --> 00:04:34.140 align:start position:0% pricey for any RC 20 token with a very clear<00:04:31.539> incentive<00:04:32.020> structure<00:04:32.699> very<00:04:33.699> easy<00:04:33.970> to 00:04:34.140 --> 00:04:34.150 align:start position:0% clear incentive structure very easy to 00:04:34.150 --> 00:04:36.120 align:start position:0% clear incentive structure very easy to reason<00:04:34.360> about<00:04:34.539> that<00:04:35.500> like<00:04:35.650> the<00:04:35.770> cost<00:04:35.979> of 00:04:36.120 --> 00:04:36.130 align:start position:0% reason about that like the cost of 00:04:36.130 --> 00:04:40.020 align:start position:0% reason about that like the cost of attack<00:04:36.400> how<00:04:37.180> secure<00:04:37.510> it<00:04:37.599> is<00:04:37.979> and<00:04:38.979> it<00:04:39.699> can<00:04:39.940> be 00:04:40.020 --> 00:04:40.030 align:start position:0% attack how secure it is and it can be 00:04:40.030 --> 00:04:41.779 align:start position:0% attack how secure it is and it can be useful<00:04:40.330> for<00:04:40.360> things<00:04:41.110> like<00:04:41.169> synthetics 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most<00:05:01.400> meaningful 00:05:01.749 --> 00:05:01.759 align:start position:0% Oracle's work so the the most meaningful 00:05:01.759 --> 00:05:03.159 align:start position:0% Oracle's work so the the most meaningful price<00:05:02.090> that<00:05:02.300> you<00:05:02.389> know<00:05:02.479> right<00:05:02.810> now<00:05:02.930> there's 00:05:03.159 --> 00:05:03.169 align:start position:0% price that you know right now there's 00:05:03.169 --> 00:05:04.839 align:start position:0% price that you know right now there's already<00:05:03.319> projects<00:05:04.039> using<00:05:04.400> a<00:05:04.460> spot<00:05:04.639> with<00:05:04.759> an 00:05:04.839 --> 00:05:04.849 align:start position:0% already projects using a spot with an 00:05:04.849 --> 00:05:06.309 align:start position:0% already projects using a spot with an Oracle<00:05:05.240> or<00:05:05.479> they<00:05:05.599> try<00:05:05.749> to<00:05:05.779> checkpoint<00:05:06.050> the 00:05:06.309 --> 00:05:06.319 align:start position:0% Oracle or they try to checkpoint the 00:05:06.319 --> 00:05:08.320 align:start position:0% Oracle or they try to checkpoint the price<00:05:06.499> for<00:05:07.400> maybe<00:05:07.610> some<00:05:07.819> sort<00:05:07.969> of<00:05:08.029> blending 00:05:08.320 --> 00:05:08.330 align:start position:0% price for maybe some sort of blending 00:05:08.330 --> 00:05:12.670 align:start position:0% price for maybe some sort of blending system<00:05:08.689> or<00:05:09.550> synthetic<00:05:10.550> asset<00:05:10.879> but<00:05:11.779> it<00:05:11.900> it<00:05:12.439> can 00:05:12.670 --> 00:05:12.680 align:start position:0% system or synthetic asset but it it can 00:05:12.680 --> 00:05:14.679 align:start position:0% system or synthetic asset but it it can be<00:05:12.770> front<00:05:13.039> run<00:05:13.189> any<00:05:13.849> transaction<00:05:14.389> that<00:05:14.479> checks 00:05:14.679 --> 00:05:14.689 align:start position:0% be front run any transaction that checks 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know mess up<00:05:21.830> the<00:05:21.889> Oracle<00:05:22.249> for<00:05:22.460> a<00:05:22.490> relatively<00:05:22.909> cheap<00:05:23.169> for 00:05:24.159 --> 00:05:24.169 align:start position:0% up the Oracle for a relatively cheap for 00:05:24.169 --> 00:05:27.119 align:start position:0% up the Oracle for a relatively cheap for a<00:05:24.500> pretty<00:05:24.979> cheap<00:05:25.240> it<00:05:26.240> doesn't<00:05:26.270> cost<00:05:26.569> that<00:05:26.719> much 00:05:27.119 --> 00:05:27.129 align:start position:0% a pretty cheap it doesn't cost that much 00:05:27.129 --> 00:05:29.350 align:start position:0% a pretty cheap it doesn't cost that much especially<00:05:28.129> since<00:05:28.639> you<00:05:28.729> can<00:05:28.879> synchronously 00:05:29.350 --> 00:05:29.360 align:start position:0% especially since you can synchronously 00:05:29.360 --> 00:05:31.600 align:start position:0% especially since you can synchronously like<00:05:29.689> front<00:05:30.229> run<00:05:30.379> it<00:05:30.500> move<00:05:30.919> the<00:05:31.069> price<00:05:31.250> let<00:05:31.520> an 00:05:31.600 --> 00:05:31.610 align:start position:0% like front run it move the price let an 00:05:31.610 --> 00:05:33.279 align:start position:0% like front run it move the price let an Oracle<00:05:31.939> transaction<00:05:32.419> go<00:05:32.509> through<00:05:32.750> and<00:05:33.199> then 00:05:33.279 --> 00:05:33.289 align:start position:0% Oracle transaction go through and then 00:05:33.289 --> 00:05:36.429 align:start position:0% Oracle transaction go through and then push<00:05:33.439> the<00:05:33.560> price<00:05:33.710> back 00:05:36.429 --> 00:05:36.439 align:start position:0% 00:05:36.439 --> 00:05:38.290 align:start position:0% so<00:05:37.279> what<00:05:37.430> we're<00:05:37.550> gonna<00:05:37.639> do<00:05:37.849> is<00:05:38.120> we're 00:05:38.290 --> 00:05:38.300 align:start position:0% so what we're gonna do is we're 00:05:38.300 --> 00:05:40.240 align:start position:0% so what we're gonna do is we're basically<00:05:38.389> gonna<00:05:38.900> have<00:05:39.319> every<00:05:39.860> every 00:05:40.240 --> 00:05:40.250 align:start position:0% basically gonna have every every 00:05:40.250 --> 00:05:42.879 align:start position:0% basically gonna have every every transaction<00:05:40.819> on<00:05:41.090> Eunice<00:05:41.300> book<00:05:41.770> check<00:05:42.770> the 00:05:42.879 --> 00:05:42.889 align:start position:0% transaction on Eunice book check the 00:05:42.889 --> 00:05:45.820 align:start position:0% transaction on Eunice book check the price<00:05:43.069> and<00:05:44.060> if<00:05:44.150> it's<00:05:44.300> the<00:05:44.419> first<00:05:44.830> transaction 00:05:45.820 --> 00:05:45.830 align:start position:0% price and if it's the first transaction 00:05:45.830 --> 00:05:49.469 align:start position:0% price and if it's the first transaction of<00:05:46.039> the<00:05:46.099> block<00:05:46.279> or<00:05:46.759> in<00:05:46.879> store<00:05:47.060> that<00:05:47.180> price<00:05:47.710> and 00:05:49.469 --> 00:05:49.479 align:start position:0% of the block or in store that price and 00:05:49.479 --> 00:05:51.480 align:start position:0% of the block or in store that price and what<00:05:50.479> we<00:05:50.539> can<00:05:50.689> do<00:05:50.779> is<00:05:50.900> we<00:05:51.020> can<00:05:51.139> basically 00:05:51.480 --> 00:05:51.490 align:start position:0% what we can do is we can basically 00:05:51.490 --> 00:05:54.700 align:start position:0% what we can do is we can basically average<00:05:52.490> prices<00:05:52.849> across<00:05:53.120> multiple<00:05:53.629> blocks<00:05:53.930> so 00:05:54.700 --> 00:05:54.710 align:start position:0% average prices across multiple blocks so 00:05:54.710 --> 00:05:56.170 align:start position:0% average prices across multiple blocks so that<00:05:54.889> no<00:05:55.249> manipulating<00:05:55.789> the<00:05:55.849> price<00:05:55.939> on<00:05:56.150> you 00:05:56.170 --> 00:05:56.180 align:start position:0% that no manipulating the price on you 00:05:56.180 --> 00:05:57.490 align:start position:0% that no manipulating the price on you this<00:05:56.330> fall<00:05:56.479> if<00:05:56.539> you<00:05:56.629> could<00:05:56.810> know<00:05:57.199> you<00:05:57.259> might<00:05:57.439> be 00:05:57.490 --> 00:05:57.500 align:start position:0% this fall if you could know you might be 00:05:57.500 --> 00:05:59.050 align:start position:0% this fall if you could know you might be able<00:05:57.560> to<00:05:57.650> manipulate<00:05:57.800> it<00:05:58.099> for<00:05:58.250> one<00:05:58.400> block<00:05:58.550> but 00:05:59.050 --> 00:05:59.060 align:start position:0% able to manipulate it for one block but 00:05:59.060 --> 00:06:00.969 align:start position:0% able to manipulate it for one block but for<00:05:59.270> many<00:05:59.419> manipulating<00:06:00.139> across<00:06:00.409> a<00:06:00.439> thousand 00:06:00.969 --> 00:06:00.979 align:start position:0% for many manipulating across a thousand 00:06:00.979 --> 00:06:04.029 align:start position:0% for many manipulating across a thousand blocks<00:06:01.129> here<00:06:01.400> across<00:06:01.849> an<00:06:02.060> hour<00:06:02.180> or<00:06:02.719> a<00:06:02.839> day<00:06:03.039> you 00:06:04.029 --> 00:06:04.039 align:start position:0% blocks here across an hour or a day you 00:06:04.039 --> 00:06:05.649 align:start position:0% blocks here across an hour or a day you know<00:06:04.129> you<00:06:04.189> what<00:06:04.639> we're<00:06:04.819> ideally<00:06:05.210> wanting<00:06:05.569> to 00:06:05.649 --> 00:06:05.659 align:start position:0% know you what we're ideally wanting to 00:06:05.659 --> 00:06:06.659 align:start position:0% know you what we're ideally wanting to expose<00:06:05.900> is<00:06:06.199> a<00:06:06.229> lot 00:06:06.659 --> 00:06:06.669 align:start position:0% expose is a lot 00:06:06.669 --> 00:06:08.999 align:start position:0% expose is a lot build<00:06:06.999> pretty<00:06:07.810> much<00:06:07.930> arbitrary<00:06:08.409> time<00:06:08.800> length 00:06:08.999 --> 00:06:09.009 align:start position:0% build pretty much arbitrary time length 00:06:09.009 --> 00:06:11.670 align:start position:0% build pretty much arbitrary time length Oracle's<00:06:09.490> on<00:06:09.849> top<00:06:10.030> of<00:06:10.120> you<00:06:10.210> know<00:06:10.270> swath<00:06:10.539> so<00:06:11.169> if 00:06:11.670 --> 00:06:11.680 align:start position:0% Oracle's on top of you know swath so if 00:06:11.680 --> 00:06:13.350 align:start position:0% Oracle's on top of you know swath so if you<00:06:11.830> check<00:06:12.009> the<00:06:12.340> Oracle<00:06:12.699> once<00:06:12.909> at<00:06:13.270> the 00:06:13.350 --> 00:06:13.360 align:start position:0% you check the Oracle once at the 00:06:13.360 --> 00:06:14.820 align:start position:0% you check the Oracle once at the beginning<00:06:13.449> today<00:06:13.870> and<00:06:14.259> once<00:06:14.439> at<00:06:14.560> the<00:06:14.650> end<00:06:14.770> of 00:06:14.820 --> 00:06:14.830 align:start position:0% beginning today and once at the end of 00:06:14.830 --> 00:06:16.559 align:start position:0% beginning today and once at the end of the<00:06:14.919> day<00:06:15.009> we<00:06:15.400> can<00:06:15.550> get<00:06:15.669> it<00:06:15.789> perfect<00:06:16.180> one<00:06:16.389> hour 00:06:16.559 --> 00:06:16.569 align:start position:0% the day we can get it perfect one hour 00:06:16.569 --> 00:06:18.959 align:start position:0% the day we can get it perfect one hour on<00:06:17.169> time<00:06:17.439> weighted<00:06:17.710> average<00:06:17.979> price<00:06:18.189> or<00:06:18.610> the 00:06:18.959 --> 00:06:18.969 align:start position:0% on time weighted average price or the 00:06:18.969 --> 00:06:20.249 align:start position:0% on time weighted average price or the price<00:06:18.999> on<00:06:19.300> unit<00:06:19.479> swap<00:06:19.659> at<00:06:19.810> the<00:06:19.870> beginning<00:06:20.110> of 00:06:20.249 --> 00:06:20.259 align:start position:0% price on unit swap at the beginning of 00:06:20.259 --> 00:06:22.920 align:start position:0% price on unit swap at the beginning of the<00:06:21.009> block<00:06:21.189> the<00:06:22.150> reason<00:06:22.419> we<00:06:22.509> do<00:06:22.599> it<00:06:22.719> beginning 00:06:22.920 --> 00:06:22.930 align:start position:0% the block the reason we do it beginning 00:06:22.930 --> 00:06:27.119 align:start position:0% the block the reason we do it beginning the<00:06:23.139> block<00:06:23.319> is<00:06:23.680> basically<00:06:24.330> because<00:06:25.949> in<00:06:26.949> order 00:06:27.119 --> 00:06:27.129 align:start position:0% the block is basically because in order 00:06:27.129 --> 00:06:28.469 align:start position:0% the block is basically because in order to<00:06:27.310> manipulate<00:06:27.430> the<00:06:27.759> price<00:06:27.969> at<00:06:28.180> the<00:06:28.210> beginning 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--> 00:06:36.059 align:start position:0% means you're opening yourself up to an arbitrage<00:06:34.509> in<00:06:34.719> the<00:06:34.779> next<00:06:35.020> block<00:06:35.199> and<00:06:35.860> doing 00:06:36.059 --> 00:06:36.069 align:start position:0% arbitrage in the next block and doing 00:06:36.069 --> 00:06:38.249 align:start position:0% arbitrage in the next block and doing that<00:06:36.189> accost<00:06:36.550> you<00:06:36.759> know<00:06:36.909> a<00:06:37.150> thousand<00:06:38.050> blocks 00:06:38.249 --> 00:06:38.259 align:start position:0% that accost you know a thousand blocks 00:06:38.259 --> 00:06:41.350 align:start position:0% that accost you know a thousand blocks can<00:06:39.219> be<00:06:39.310> very<00:06:39.490> expensive 00:06:41.350 --> 00:06:41.360 align:start position:0% can be very expensive 00:06:41.360 --> 00:06:45.330 align:start position:0% can be very expensive the<00:06:42.139> microphone<00:06:42.620> oh<00:06:42.919> you<00:06:43.789> can<00:06:43.970> hear<00:06:44.060> me<00:06:44.150> yes 00:06:45.330 --> 00:06:45.340 align:start position:0% the microphone oh you can hear me yes 00:06:45.340 --> 00:06:46.839 align:start position:0% the microphone oh you can hear me yes about<00:06:46.340> that 00:06:46.839 --> 00:06:46.849 align:start position:0% about that 00:06:46.849 --> 00:06:49.540 align:start position:0% about that okay<00:06:47.659> the<00:06:47.840> the<00:06:47.870> other<00:06:48.289> feature<00:06:48.979> who<00:06:49.460> are 00:06:49.540 --> 00:06:49.550 align:start position:0% okay the the other feature who are 00:06:49.550 --> 00:06:51.309 align:start position:0% okay the the other feature who are working<00:06:49.909> on<00:06:50.030> is<00:06:50.180> the<00:06:50.360> earthy<00:06:50.539> 20<00:06:50.780> to<00:06:50.900> go<00:06:50.990> see<00:06:51.110> 20 00:06:51.309 --> 00:06:51.319 align:start position:0% working on is the earthy 20 to go see 20 00:06:51.319 --> 00:06:53.830 align:start position:0% working on is the earthy 20 to go see 20 pairs<00:06:51.729> the<00:06:52.729> main<00:06:52.849> idea<00:06:53.120> here<00:06:53.330> is<00:06:53.449> to<00:06:53.629> allow<00:06:53.780> the 00:06:53.830 --> 00:06:53.840 align:start position:0% pairs the main idea here is to allow the 00:06:53.840 --> 00:06:55.899 align:start position:0% pairs the main idea here is to allow the pretty<00:06:54.169> providers<00:06:54.620> to<00:06:54.800> take<00:06:54.919> on<00:06:55.129> a<00:06:55.340> wider 00:06:55.899 --> 00:06:55.909 align:start position:0% pretty providers to take on a wider 00:06:55.909 --> 00:06:59.350 align:start position:0% pretty providers to take on a wider range<00:06:56.210> of<00:06:56.479> positions<00:06:57.759> also<00:06:58.759> allow<00:06:58.969> for<00:06:59.000> lower 00:06:59.350 --> 00:06:59.360 align:start position:0% range of positions also allow for lower 00:06:59.360 --> 00:07:01.749 align:start position:0% range of positions also allow for lower slippage<00:06:59.810> and<00:07:00.110> fees<00:07:00.319> on<00:07:00.620> direct<00:07:01.099> here<00:07:01.280> some<00:07:01.430> 22 00:07:01.749 --> 00:07:01.759 align:start position:0% slippage and fees on direct here some 22 00:07:01.759 --> 00:07:05.290 align:start position:0% slippage and fees on direct here some 22 years<00:07:01.879> to<00:07:01.969> 20<00:07:02.210> pairs<00:07:02.439> for<00:07:03.439> one<00:07:03.560> two<00:07:04.120> with<00:07:05.120> any 00:07:05.290 --> 00:07:05.300 align:start position:0% years to 20 pairs for one two with any 00:07:05.300 --> 00:07:07.809 align:start position:0% years to 20 pairs for one two with any of<00:07:05.389> them<00:07:06.039> right<00:07:07.039> now<00:07:07.189> you<00:07:07.310> know<00:07:07.490> when<00:07:07.610> you<00:07:07.699> go 00:07:07.809 --> 00:07:07.819 align:start position:0% of them right now you know when you go 00:07:07.819 --> 00:07:09.369 align:start position:0% of them right now you know when you go here's<00:07:08.090> the<00:07:08.120> 20<00:07:08.389> or<00:07:08.659> 20<00:07:09.020> you<00:07:09.139> have<00:07:09.259> to<00:07:09.319> go 00:07:09.369 --> 00:07:09.379 align:start position:0% here's the 20 or 20 you have to go 00:07:09.379 --> 00:07:12.129 align:start position:0% here's the 20 or 20 you have to go here's<00:07:09.590> the<00:07:09.650> 22<00:07:09.919> ëthere<00:07:10.580> see<00:07:10.729> 20<00:07:10.969> you<00:07:11.060> pay<00:07:11.270> 0.3% 00:07:12.129 --> 00:07:12.139 align:start position:0% here's the 22 ëthere see 20 you pay 0.3% 00:07:12.139 --> 00:07:14.260 align:start position:0% here's the 22 ëthere see 20 you pay 0.3% see<00:07:12.500> on<00:07:12.650> both<00:07:12.830> sides<00:07:13.069> and<00:07:13.400> then<00:07:13.819> the<00:07:13.909> slippage 00:07:14.260 --> 00:07:14.270 align:start position:0% see on both sides and then the slippage 00:07:14.270 --> 00:07:17.920 align:start position:0% see on both sides and then the slippage on<00:07:14.539> both<00:07:14.810> sides<00:07:16.090> it<00:07:17.090> is<00:07:17.120> in<00:07:17.449> general<00:07:17.810> we<00:07:17.900> think 00:07:17.920 --> 00:07:17.930 align:start position:0% on both sides it is in general we think 00:07:17.930 --> 00:07:19.659 align:start position:0% on both sides it is in general we think reading<00:07:18.319> increases<00:07:18.889> the<00:07:19.069> protocol 00:07:19.659 --> 00:07:19.669 align:start position:0% reading increases the protocol 00:07:19.669 --> 00:07:22.959 align:start position:0% reading increases the protocol flexibility<00:07:20.569> so<00:07:21.500> an<00:07:21.770> example<00:07:22.190> for<00:07:22.370> the<00:07:22.520> use 00:07:22.959 --> 00:07:22.969 align:start position:0% flexibility so an example for the use 00:07:22.969 --> 00:07:24.939 align:start position:0% flexibility so an example for the use case<00:07:23.150> where<00:07:23.300> the<00:07:23.419> most<00:07:23.960> interesting<00:07:24.199> with 00:07:24.939 --> 00:07:24.949 align:start position:0% case where the most interesting with 00:07:24.949 --> 00:07:26.770 align:start position:0% case where the most interesting with allowing<00:07:25.190> tokens<00:07:25.789> to<00:07:25.909> be<00:07:26.030> parroting<00:07:26.690> in 00:07:26.770 --> 00:07:26.780 align:start position:0% allowing tokens to be parroting in 00:07:26.780 --> 00:07:28.600 align:start position:0% allowing tokens to be parroting in stable<00:07:27.110> coins<00:07:27.349> or<00:07:27.800> even<00:07:28.099> stable<00:07:28.430> point 00:07:28.600 --> 00:07:28.610 align:start position:0% stable coins or even stable point 00:07:28.610 --> 00:07:30.969 align:start position:0% stable coins or even stable point compared<00:07:28.879> against<00:07:29.120> each<00:07:29.210> other<00:07:29.419> or<00:07:29.960> just<00:07:30.020> have 00:07:30.969 --> 00:07:30.979 align:start position:0% compared against each other or just have 00:07:30.979 --> 00:07:32.980 align:start position:0% compared against each other or just have very<00:07:31.190> highly<00:07:31.430> correlated<00:07:31.759> assets<00:07:32.270> you<00:07:32.900> know 00:07:32.980 --> 00:07:32.990 align:start position:0% very highly correlated assets you know 00:07:32.990 --> 00:07:35.529 align:start position:0% very highly correlated assets you know if<00:07:33.050> you<00:07:33.139> create<00:07:33.940> there's<00:07:34.940> all<00:07:35.270> sorts<00:07:35.479> of 00:07:35.529 --> 00:07:35.539 align:start position:0% if you create there's all sorts of 00:07:35.539 --> 00:07:36.610 align:start position:0% if you create there's all sorts of different<00:07:35.690> projects<00:07:36.080> where<00:07:36.229> they<00:07:36.319> they 00:07:36.610 --> 00:07:36.620 align:start position:0% different projects where they they 00:07:36.620 --> 00:07:38.320 align:start position:0% different projects where they they create<00:07:36.830> assets<00:07:37.159> that<00:07:37.219> are<00:07:37.370> you<00:07:37.940> know<00:07:38.029> meant<00:07:38.270> to 00:07:38.320 --> 00:07:38.330 align:start position:0% create assets that are you know meant to 00:07:38.330 --> 00:07:39.730 align:start position:0% create assets that are you know meant to be<00:07:38.389> correlated<00:07:38.659> with<00:07:38.870> each<00:07:39.080> other<00:07:39.259> for 00:07:39.730 --> 00:07:39.740 align:start position:0% be correlated with each other for 00:07:39.740 --> 00:07:41.320 align:start position:0% be correlated with each other for example<00:07:40.009> you<00:07:40.069> can<00:07:40.189> imagine<00:07:40.219> like<00:07:40.580> C<00:07:40.879> die<00:07:41.029> and 00:07:41.320 --> 00:07:41.330 align:start position:0% example you can imagine like C die and 00:07:41.330 --> 00:07:44.170 align:start position:0% example you can imagine like C die and die<00:07:42.129> between<00:07:43.129> the<00:07:43.219> two<00:07:43.370> you're<00:07:43.969> just<00:07:44.090> gonna 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align:start position:0% units while coming from the prices diverging 00:07:52.679 --> 00:07:52.689 align:start position:0% diverging 00:07:52.689 --> 00:07:56.200 align:start position:0% diverging so<00:07:53.689> an<00:07:53.930> example<00:07:54.020> use<00:07:54.409> case<00:07:54.520> would<00:07:55.520> be<00:07:55.580> AC<00:07:55.789> died 00:07:56.200 --> 00:07:56.210 align:start position:0% so an example use case would be AC died 00:07:56.210 --> 00:07:59.860 align:start position:0% so an example use case would be AC died to<00:07:56.419> see<00:07:56.599> us<00:07:56.779> DC<00:07:57.080> pair<00:07:57.319> unlock<00:07:58.389> this<00:07:59.389> this<00:07:59.689> is<00:07:59.840> a 00:07:59.860 --> 00:07:59.870 align:start position:0% to see us DC pair unlock this this is a 00:07:59.870 --> 00:08:02.619 align:start position:0% to see us DC pair unlock this this is a so<00:08:00.830> well<00:08:01.759> that<00:08:01.969> we<00:08:02.060> were<00:08:02.150> thinking<00:08:02.389> about<00:08:02.419> the 00:08:02.619 --> 00:08:02.629 align:start position:0% so well that we were thinking about the 00:08:02.629 --> 00:08:04.899 align:start position:0% so well that we were thinking about the idea<00:08:02.659> of<00:08:02.840> ayodhya<00:08:03.229> TOS<00:08:03.529> BC<00:08:03.800> pair<00:08:04.009> as<00:08:04.340> an 00:08:04.899 --> 00:08:04.909 align:start position:0% idea of ayodhya TOS BC pair as an 00:08:04.909 --> 00:08:09.249 align:start position:0% idea of ayodhya TOS BC pair as an example<00:08:05.150> use<00:08:05.389> case<00:08:05.419> or<00:08:06.460> or<00:08:07.460> this<00:08:07.699> but<00:08:08.569> one 00:08:09.249 --> 00:08:09.259 align:start position:0% example use case or or this but one 00:08:09.259 --> 00:08:10.209 align:start position:0% example use case or or this but one thing<00:08:09.289> that<00:08:09.439> kept<00:08:09.650> coming<00:08:09.680> up<00:08:09.949> was<00:08:10.069> the 00:08:10.209 --> 00:08:10.219 align:start position:0% thing that kept coming up was the 00:08:10.219 --> 00:08:12.339 align:start position:0% thing that kept coming up was the opportunity<00:08:10.759> cost<00:08:10.969> of<00:08:11.180> lending<00:08:11.330> a<00:08:11.659> stabilizer 00:08:12.339 --> 00:08:12.349 align:start position:0% opportunity cost of lending a stabilizer 00:08:12.349 --> 00:08:16.269 align:start position:0% opportunity cost of lending a stabilizer so<00:08:12.979> right<00:08:13.580> now<00:08:13.729> if<00:08:13.879> you<00:08:14.029> if<00:08:14.300> you<00:08:14.419> let<00:08:15.279> make 00:08:16.269 --> 00:08:16.279 align:start position:0% so right now if you if you let make 00:08:16.279 --> 00:08:18.399 align:start position:0% so right now if you if you let make about<00:08:16.460> 15<00:08:16.819> percent<00:08:16.939> return<00:08:17.389> versus<00:08:18.169> if<00:08:18.289> you 00:08:18.399 --> 00:08:18.409 align:start position:0% about 15 percent return versus if you 00:08:18.409 --> 00:08:20.709 align:start position:0% about 15 percent return versus if you were<00:08:18.499> looking<00:08:18.650> provider<00:08:19.249> on<00:08:19.460> the<00:08:19.580> system<00:08:19.939> and 00:08:20.709 --> 00:08:20.719 align:start position:0% were looking provider on the system and 00:08:20.719 --> 00:08:21.760 align:start position:0% were looking provider on the system and you<00:08:20.810> know<00:08:20.900> swap<00:08:21.139> you<00:08:21.319> would<00:08:21.439> have<00:08:21.560> to<00:08:21.650> be 00:08:21.760 --> 00:08:21.770 align:start position:0% you know swap you would have to be 00:08:21.770 --> 00:08:23.409 align:start position:0% you know swap you would have to be making<00:08:22.069> a<00:08:22.129> fifteen<00:08:22.400> percent<00:08:22.580> return<00:08:23.180> for<00:08:23.330> it 00:08:23.409 --> 00:08:23.419 align:start position:0% making a fifteen percent return for it 00:08:23.419 --> 00:08:26.769 align:start position:0% making a fifteen percent return for it to<00:08:23.479> be<00:08:23.599> worth<00:08:23.749> it<00:08:24.370> but<00:08:25.370> if<00:08:26.089> we<00:08:26.300> have<00:08:26.449> these<00:08:26.599> sort 00:08:26.769 --> 00:08:26.779 align:start position:0% to be worth it but if we have these sort 00:08:26.779 --> 00:08:29.679 align:start position:0% to be worth it but if we have these sort of<00:08:26.870> ability<00:08:27.139> to<00:08:27.379> create<00:08:27.560> arbitrary<00:08:28.360> here<00:08:29.360> C<00:08:29.509> 20 00:08:29.679 --> 00:08:29.689 align:start position:0% of ability to create arbitrary here C 20 00:08:29.689 --> 00:08:31.119 align:start position:0% of ability to create arbitrary here C 20 or<00:08:29.779> C<00:08:29.900> 20<00:08:30.110> pairs<00:08:30.319> we<00:08:30.499> could<00:08:30.620> create<00:08:30.740> a<00:08:30.860> pair 00:08:31.119 --> 00:08:31.129 align:start position:0% or C 20 pairs we could create a pair 00:08:31.129 --> 00:08:34.629 align:start position:0% or C 20 pairs we could create a pair between<00:08:31.370> C<00:08:31.759> dot<00:08:31.909> HTM<00:08:32.329> CC<00:08:33.070> where<00:08:34.070> when<00:08:34.399> someone 00:08:34.629 --> 00:08:34.639 align:start position:0% between C dot HTM CC where when someone 00:08:34.639 --> 00:08:36.699 align:start position:0% between C dot HTM CC where when someone wants<00:08:34.820> to<00:08:34.880> trade<00:08:35.149> you<00:08:35.659> know<00:08:35.779> the<00:08:35.959> trader<00:08:36.409> is 00:08:36.699 --> 00:08:36.709 align:start position:0% wants to trade you know the trader is 00:08:36.709 --> 00:08:38.139 align:start position:0% wants to trade you know the trader is extracted<00:08:37.279> from<00:08:37.310> them<00:08:37.519> they<00:08:37.669> just<00:08:37.849> send<00:08:38.000> some 00:08:38.139 --> 00:08:38.149 align:start position:0% extracted from them they just send some 00:08:38.149 --> 00:08:40.089 align:start position:0% extracted from them they just send some tired<00:08:38.329> of<00:08:38.449> the<00:08:38.510> contract<00:08:38.899> the<00:08:39.440> dye<00:08:39.620> is<00:08:39.680> go 00:08:40.089 --> 00:08:40.099 align:start position:0% tired of the contract the dye is go 00:08:40.099 --> 00:08:42.009 align:start position:0% tired of the contract the dye is go through<00:08:40.130> compound<00:08:40.760> converts<00:08:41.180> until<00:08:41.479> she<00:08:41.870> died 00:08:42.009 --> 00:08:42.019 align:start position:0% through compound converts until she died 00:08:42.019 --> 00:08:44.379 align:start position:0% through compound converts until she died and<00:08:42.380> then<00:08:42.409> she<00:08:43.370> dies<00:08:43.519> goes<00:08:43.880> through<00:08:44.180> you<00:08:44.300> know 00:08:44.379 --> 00:08:44.389 align:start position:0% and then she dies goes through you know 00:08:44.389 --> 00:08:46.600 align:start position:0% and then she dies goes through you know swap<00:08:44.600> converted<00:08:44.959> to<00:08:45.019> see<00:08:45.170> us<00:08:45.320> DC<00:08:45.589> Co<00:08:46.220> species 00:08:46.600 --> 00:08:46.610 align:start position:0% swap converted to see us DC Co species 00:08:46.610 --> 00:08:49.150 align:start position:0% swap converted to see us DC Co species back<00:08:46.850> to<00:08:47.000> compound<00:08:47.420> or<00:08:48.050> us<00:08:48.230> decays<00:08:48.529> and<00:08:49.010> then 00:08:49.150 --> 00:08:49.160 align:start position:0% back to compound or us decays and then 00:08:49.160 --> 00:08:51.189 align:start position:0% back to compound or us decays and then us<00:08:49.339> DC<00:08:49.579> back<00:08:49.820> to<00:08:50.060> unit<00:08:50.480> swap<00:08:50.660> in<00:08:50.870> a<00:08:50.959> single 00:08:51.189 --> 00:08:51.199 align:start position:0% us DC back to unit swap in a single 00:08:51.199 --> 00:08:53.170 align:start position:0% us DC back to unit swap in a single transaction<00:08:51.399> and<00:08:52.399> what<00:08:52.519> you<00:08:52.610> have<00:08:52.790> is<00:08:52.940> for<00:08:53.060> the 00:08:53.170 --> 00:08:53.180 align:start position:0% transaction and what you have is for the 00:08:53.180 --> 00:08:54.970 align:start position:0% transaction and what you have is for the liquidity<00:08:53.480> provider<00:08:53.959> they're<00:08:54.470> able<00:08:54.769> they're 00:08:54.970 --> 00:08:54.980 align:start position:0% liquidity provider they're able they're 00:08:54.980 --> 00:08:56.920 align:start position:0% liquidity provider they're able they're basically<00:08:55.220> leveraging<00:08:55.730> up<00:08:55.850> they<00:08:56.420> are<00:08:56.480> earning 00:08:56.920 --> 00:08:56.930 align:start position:0% basically leveraging up they are earning 00:08:56.930 --> 00:08:59.050 align:start position:0% basically leveraging up they are earning interest<00:08:57.140> on<00:08:57.380> compound<00:08:57.860> while<00:08:58.490> earning<00:08:58.730> fees 00:08:59.050 --> 00:08:59.060 align:start position:0% interest on compound while earning fees 00:08:59.060 --> 00:09:01.150 align:start position:0% interest on compound while earning fees on<00:08:59.240> you<00:08:59.329> know<00:08:59.449> swapped<00:08:59.690> for<00:09:00.440> the<00:09:00.560> trader<00:09:00.800> all 00:09:01.150 --> 00:09:01.160 align:start position:0% on you know swapped for the trader all 00:09:01.160 --> 00:09:04.300 align:start position:0% on you know swapped for the trader all they<00:09:01.339> deal<00:09:01.490> with<00:09:01.519> his<00:09:01.730> dying<00:09:01.970> this<00:09:02.240> PC<00:09:03.100> and<00:09:04.100> so 00:09:04.300 --> 00:09:04.310 align:start position:0% they deal with his dying this PC and so 00:09:04.310 --> 00:09:05.800 align:start position:0% they deal with his dying this PC and so they<00:09:04.430> have<00:09:04.550> a<00:09:04.579> much<00:09:04.970> lower<00:09:05.149> opportunity<00:09:05.510> cost 00:09:05.800 --> 00:09:05.810 align:start position:0% they have a much lower opportunity cost 00:09:05.810 --> 00:09:10.990 align:start position:0% they have a much lower opportunity cost in<00:09:06.260> this<00:09:06.350> case<00:09:06.589> or<00:09:06.949> the<00:09:07.699> provider<00:09:09.790> yeah<00:09:10.790> so 00:09:10.990 --> 00:09:11.000 align:start position:0% in this case or the provider yeah so 00:09:11.000 --> 00:09:13.450 align:start position:0% in this case or the provider yeah so there's<00:09:11.720> no<00:09:11.839> healthy<00:09:12.110> loss<00:09:12.290> in<00:09:12.470> London 00:09:13.450 --> 00:09:13.460 align:start position:0% there's no healthy loss in London 00:09:13.460 --> 00:09:15.389 align:start position:0% there's no healthy loss in London and<00:09:13.550> in<00:09:13.730> this<00:09:13.850> case<00:09:14.029> now<00:09:14.270> this<00:09:14.420> is<00:09:14.600> not<00:09:14.779> true 00:09:15.389 --> 00:09:15.399 align:start position:0% and in this case now this is not true 00:09:15.399 --> 00:09:17.320 align:start position:0% and in this case now this is not true you<00:09:16.399> should<00:09:16.550> be<00:09:16.670> telling<00:09:16.850> me<00:09:16.970> that's<00:09:17.089> wrong 00:09:17.320 --> 00:09:17.330 align:start position:0% you should be telling me that's wrong 00:09:17.330 --> 00:09:19.329 align:start position:0% you should be telling me that's wrong because<00:09:18.140> technically<00:09:18.950> they<00:09:19.100> can<00:09:19.160> have<00:09:19.279> a 00:09:19.329 --> 00:09:19.339 align:start position:0% because technically they can have a 00:09:19.339 --> 00:09:20.889 align:start position:0% because technically they can have a different<00:09:19.610> interest<00:09:19.790> rate<00:09:20.029> so<00:09:20.690> they<00:09:20.810> were 00:09:20.889 --> 00:09:20.899 align:start position:0% different interest rate so they were 00:09:20.899 --> 00:09:22.990 align:start position:0% different interest rate so they were maybe<00:09:21.050> that's<00:09:21.260> very<00:09:21.560> very<00:09:21.800> small<00:09:22.190> very<00:09:22.910> very 00:09:22.990 --> 00:09:23.000 align:start position:0% maybe that's very very small very very 00:09:23.000 --> 00:09:25.269 align:start position:0% maybe that's very very small very very small<00:09:23.240> potential<00:09:23.750> loss<00:09:23.960> between<00:09:24.740> the<00:09:24.800> two<00:09:24.950> but 00:09:25.269 --> 00:09:25.279 align:start position:0% small potential loss between the two but 00:09:25.279 --> 00:09:29.170 align:start position:0% small potential loss between the two but not<00:09:25.850> not<00:09:26.330> very<00:09:26.390> much<00:09:26.720> so<00:09:27.490> yeah<00:09:28.490> users<00:09:28.790> can<00:09:28.970> swap 00:09:29.170 --> 00:09:29.180 align:start position:0% not not very much so yeah users can swap 00:09:29.180 --> 00:09:30.639 align:start position:0% not not very much so yeah users can swap die<00:09:29.450> for<00:09:29.750> us<00:09:29.870> to<00:09:29.959> see<00:09:30.080> the<00:09:30.170> very<00:09:30.320> low<00:09:30.410> prices 00:09:30.639 --> 00:09:30.649 align:start position:0% die for us to see the very low prices 00:09:30.649 --> 00:09:33.970 align:start position:0% die for us to see the very low prices and<00:09:31.040> then<00:09:31.959> you<00:09:32.959> could<00:09:33.260> also<00:09:33.320> even<00:09:33.589> imagine 00:09:33.970 --> 00:09:33.980 align:start position:0% and then you could also even imagine 00:09:33.980 --> 00:09:35.610 align:start position:0% and then you could also even imagine this<00:09:34.100> see<00:09:34.279> the<00:09:34.399> height<00:09:34.580> to<00:09:34.790> you<00:09:34.880> if<00:09:34.970> you<00:09:35.120> see 00:09:35.610 --> 00:09:35.620 align:start position:0% this see the height to you if you see 00:09:35.620 --> 00:09:38.380 align:start position:0% this see the height to you if you see liquidity<00:09:36.620> pool<00:09:36.950> tokens<00:09:37.370> then<00:09:37.820> being<00:09:38.060> used<00:09:38.209> as 00:09:38.380 --> 00:09:38.390 align:start position:0% liquidity pool tokens then being used as 00:09:38.390 --> 00:09:41.500 align:start position:0% liquidity pool tokens then being used as collateral<00:09:39.010> because<00:09:40.010> it's<00:09:40.160> very<00:09:40.310> stable<00:09:40.640> and 00:09:41.500 --> 00:09:41.510 align:start position:0% collateral because it's very stable and 00:09:41.510 --> 00:09:43.389 align:start position:0% collateral because it's very stable and then<00:09:41.779> not<00:09:42.260> only<00:09:42.470> have<00:09:42.620> you<00:09:42.709> leveraged<00:09:43.100> up<00:09:43.220> by 00:09:43.389 --> 00:09:43.399 align:start position:0% then not only have you leveraged up by 00:09:43.399 --> 00:09:44.650 align:start position:0% then not only have you leveraged up by lending<00:09:43.790> in<00:09:43.940> market<00:09:44.180> making<00:09:44.360> at<00:09:44.420> the<00:09:44.480> same 00:09:44.650 --> 00:09:44.660 align:start position:0% lending in market making at the same 00:09:44.660 --> 00:09:46.120 align:start position:0% lending in market making at the same time<00:09:44.899> but<00:09:45.230> then<00:09:45.350> you're<00:09:45.500> taking<00:09:45.649> out<00:09:45.890> a<00:09:45.920> loan 00:09:46.120 --> 00:09:46.130 align:start position:0% time but then you're taking out a loan 00:09:46.130 --> 00:09:49.630 align:start position:0% time but then you're taking out a loan against<00:09:46.490> that<00:09:46.700> same<00:09:47.209> platter<00:09:47.480> again<00:09:48.459> yes<00:09:49.459> the 00:09:49.630 --> 00:09:49.640 align:start position:0% against that same platter again yes the 00:09:49.640 --> 00:09:52.090 align:start position:0% against that same platter again yes the money<00:09:49.760> Legos<00:09:50.060> get<00:09:50.240> kind<00:09:50.420> of<00:09:50.480> crazy<00:09:50.680> but<00:09:51.680> we 00:09:52.090 --> 00:09:52.100 align:start position:0% money Legos get kind of crazy but we 00:09:52.100 --> 00:09:56.740 align:start position:0% money Legos get kind of crazy but we have<00:09:52.520> a<00:09:52.550> lot<00:09:52.640> of<00:09:52.700> fun<00:09:52.850> with<00:09:52.970> it<00:09:53.830> okay<00:09:54.830> so<00:09:55.720> one<00:09:56.720> of 00:09:56.740 --> 00:09:56.750 align:start position:0% have a lot of fun with it okay so one of 00:09:56.750 --> 00:09:58.150 align:start position:0% have a lot of fun with it okay so one of the<00:09:56.930> things<00:09:57.140> that<00:09:57.290> the<00:09:57.500> thing<00:09:57.709> that<00:09:57.740> this<00:09:58.010> has 00:09:58.150 --> 00:09:58.160 align:start position:0% the things that the thing that this has 00:09:58.160 --> 00:09:59.889 align:start position:0% the things that the thing that this has been<00:09:58.310> focused<00:09:58.640> on<00:09:58.700> Safari<00:09:59.149> is<00:09:59.270> like<00:09:59.450> the<00:09:59.600> idea 00:09:59.889 --> 00:09:59.899 align:start position:0% been focused on Safari is like the idea 00:09:59.899 --> 00:10:05.410 align:start position:0% been focused on Safari is like the idea of<00:10:00.730> building<00:10:01.730> on<00:10:02.060> top<00:10:02.209> of<00:10:02.270> unis<00:10:02.630> wall<00:10:02.920> and<00:10:04.420> we 00:10:05.410 --> 00:10:05.420 align:start position:0% of building on top of unis wall and we 00:10:05.420 --> 00:10:06.790 align:start position:0% of building on top of unis wall and we also<00:10:05.630> want<00:10:05.899> to<00:10:05.959> improve<00:10:06.110> the<00:10:06.260> you<00:10:06.350> execute<00:10:06.709> as 00:10:06.790 --> 00:10:06.800 align:start position:0% also want to improve the you execute as 00:10:06.800 --> 00:10:08.829 align:start position:0% also want to improve the you execute as well<00:10:06.980> and<00:10:07.220> one<00:10:07.910> of<00:10:08.029> the<00:10:08.120> best<00:10:08.270> ways<00:10:08.450> to<00:10:08.630> improve 00:10:08.829 --> 00:10:08.839 align:start position:0% well and one of the best ways to improve 00:10:08.839 --> 00:10:11.560 align:start position:0% well and one of the best ways to improve UX<00:10:09.170> parades<00:10:09.560> for<00:10:09.980> a<00:10:10.040> single<00:10:10.310> application<00:10:10.670> is 00:10:11.560 --> 00:10:11.570 align:start position:0% UX parades for a single application is 00:10:11.570 --> 00:10:15.579 align:start position:0% UX parades for a single application is using<00:10:11.959> layer<00:10:12.290> 2<00:10:13.240> but<00:10:14.240> with<00:10:14.690> most<00:10:15.020> layer<00:10:15.290> tools 00:10:15.579 --> 00:10:15.589 align:start position:0% using layer 2 but with most layer tools 00:10:15.589 --> 00:10:16.960 align:start position:0% using layer 2 but with most layer tools that<00:10:15.890> have<00:10:15.980> existed<00:10:16.399> up<00:10:16.520> until<00:10:16.610> some<00:10:16.910> point 00:10:16.960 --> 00:10:16.970 align:start position:0% that have existed up until some point 00:10:16.970 --> 00:10:20.500 align:start position:0% that have existed up until some point it's<00:10:17.930> been<00:10:18.320> oh<00:10:18.830> it's<00:10:19.760> always<00:10:19.880> made<00:10:20.330> this 00:10:20.500 --> 00:10:20.510 align:start position:0% it's been oh it's always made this 00:10:20.510 --> 00:10:21.690 align:start position:0% it's been oh it's always made this sacrifice<00:10:20.720> but<00:10:21.260> we<00:10:21.350> can<00:10:21.500> no<00:10:21.589> longer 00:10:21.690 --> 00:10:21.700 align:start position:0% sacrifice but we can no longer 00:10:21.700 --> 00:10:24.130 align:start position:0% sacrifice but we can no longer interoperate<00:10:22.700> cleanly<00:10:23.360> and<00:10:23.450> smoothly<00:10:23.630> with 00:10:24.130 --> 00:10:24.140 align:start position:0% interoperate cleanly and smoothly with 00:10:24.140 --> 00:10:29.110 align:start position:0% interoperate cleanly and smoothly with other<00:10:24.320> with<00:10:25.130> other<00:10:25.250> applications<00:10:27.490> so<00:10:28.490> there's 00:10:29.110 --> 00:10:29.120 align:start position:0% other with other applications so there's 00:10:29.120 --> 00:10:30.400 align:start position:0% other with other applications so there's you<00:10:29.480> know<00:10:29.510> a<00:10:29.600> few<00:10:29.779> different<00:10:30.020> applications 00:10:30.400 --> 00:10:30.410 align:start position:0% you know a few different applications 00:10:30.410 --> 00:10:31.660 align:start position:0% you know a few different applications out<00:10:30.529> there<00:10:30.560> there's<00:10:30.950> plasma<00:10:31.370> there's<00:10:31.580> a 00:10:31.660 --> 00:10:31.670 align:start position:0% out there there's plasma there's a 00:10:31.670 --> 00:10:34.120 align:start position:0% out there there's plasma there's a Corolla<00:10:32.089> and<00:10:32.209> have<00:10:32.360> about<00:10:32.600> mr.<00:10:32.990> Corolla 00:10:34.120 --> 00:10:34.130 align:start position:0% Corolla and have about mr. Corolla 00:10:34.130 --> 00:10:37.480 align:start position:0% Corolla and have about mr. Corolla maybe<00:10:35.029> I'll<00:10:35.240> very<00:10:35.839> briefly<00:10:36.100> very<00:10:37.100> very 00:10:37.480 --> 00:10:37.490 align:start position:0% maybe I'll very briefly very very 00:10:37.490 --> 00:10:39.420 align:start position:0% maybe I'll very briefly very very quickly<00:10:37.760> high<00:10:37.970> level<00:10:38.270> with<00:10:38.360> explain 00:10:39.420 --> 00:10:39.430 align:start position:0% quickly high level with explain 00:10:39.430 --> 00:10:43.329 align:start position:0% quickly high level with explain optimistic<00:10:40.430> roll<00:10:40.580> up<00:10:40.730> you<00:10:40.940> post<00:10:41.480> blocks<00:10:42.339> you 00:10:43.329 --> 00:10:43.339 align:start position:0% optimistic roll up you post blocks you 00:10:43.339 --> 00:10:45.220 align:start position:0% optimistic roll up you post blocks you often<00:10:43.670> you<00:10:43.820> execute<00:10:44.300> them<00:10:44.420> optimistically 00:10:45.220 --> 00:10:45.230 align:start position:0% often you execute them optimistically 00:10:45.230 --> 00:10:46.600 align:start position:0% often you execute them optimistically which<00:10:45.560> means<00:10:45.740> you<00:10:45.860> assume<00:10:45.980> everything<00:10:46.580> is 00:10:46.600 --> 00:10:46.610 align:start position:0% which means you assume everything is 00:10:46.610 --> 00:10:49.269 align:start position:0% which means you assume everything is valid<00:10:47.029> unless<00:10:47.330> it's<00:10:47.600> proven<00:10:47.900> invalid<00:10:48.350> and 00:10:49.269 --> 00:10:49.279 align:start position:0% valid unless it's proven invalid and 00:10:49.279 --> 00:10:50.890 align:start position:0% valid unless it's proven invalid and then<00:10:49.459> basically<00:10:50.209> there's<00:10:50.360> some<00:10:50.510> data<00:10:50.690> off 00:10:50.890 --> 00:10:50.900 align:start position:0% then basically there's some data off 00:10:50.900 --> 00:10:53.879 align:start position:0% then basically there's some data off chain<00:10:51.200> that<00:10:51.980> users<00:10:52.339> can<00:10:52.490> have<00:10:52.520> proof 00:10:53.879 --> 00:10:53.889 align:start position:0% chain that users can have proof 00:10:53.889 --> 00:10:57.030 align:start position:0% chain that users can have proof induction<00:10:54.160> is<00:10:54.369> valid<00:10:54.670> or<00:10:54.790> invalid<00:10:55.799> very<00:10:56.799> very 00:10:57.030 --> 00:10:57.040 align:start position:0% induction is valid or invalid very very 00:10:57.040 --> 00:10:58.710 align:start position:0% induction is valid or invalid very very scalable<00:10:57.519> because<00:10:57.939> you<00:10:58.089> basically<00:10:58.269> have<00:10:58.600> to 00:10:58.710 --> 00:10:58.720 align:start position:0% scalable because you basically have to 00:10:58.720 --> 00:11:00.090 align:start position:0% scalable because you basically have to get<00:10:58.839> everything<00:10:59.079> off<00:10:59.290> chain<00:10:59.529> and<00:10:59.829> you<00:10:59.889> don't 00:11:00.090 --> 00:11:00.100 align:start position:0% get everything off chain and you don't 00:11:00.100 --> 00:11:03.419 align:start position:0% get everything off chain and you don't put<00:11:00.220> any<00:11:00.369> data<00:11:00.609> on<00:11:00.699> chain<00:11:00.999> then<00:11:01.959> you<00:11:02.049> have<00:11:02.429> zk 00:11:03.419 --> 00:11:03.429 align:start position:0% put any data on chain then you have zk 00:11:03.429 --> 00:11:05.759 align:start position:0% put any data on chain then you have zk roll<00:11:03.670> up<00:11:03.819> this<00:11:04.600> is<00:11:04.749> the<00:11:04.839> idea<00:11:05.139> that<00:11:05.199> you<00:11:05.470> can<00:11:05.649> do 00:11:05.759 --> 00:11:05.769 align:start position:0% roll up this is the idea that you can do 00:11:05.769 --> 00:11:08.189 align:start position:0% roll up this is the idea that you can do a<00:11:05.799> you<00:11:06.309> can<00:11:06.459> put<00:11:06.639> data<00:11:06.759> on<00:11:06.999> chain<00:11:07.269> very<00:11:08.019> lik 00:11:08.189 --> 00:11:08.199 align:start position:0% a you can put data on chain very lik 00:11:08.199 --> 00:11:10.169 align:start position:0% a you can put data on chain very lik minimal<00:11:08.529> data<00:11:08.709> for<00:11:09.100> transaction<00:11:09.670> and<00:11:09.970> then 00:11:10.169 --> 00:11:10.179 align:start position:0% minimal data for transaction and then 00:11:10.179 --> 00:11:12.179 align:start position:0% minimal data for transaction and then you<00:11:10.269> do<00:11:10.389> a<00:11:10.419> stars<00:11:10.869> proof<00:11:11.169> that<00:11:11.649> all<00:11:11.829> those<00:11:11.980> data 00:11:12.179 --> 00:11:12.189 align:start position:0% you do a stars proof that all those data 00:11:12.189 --> 00:11:16.129 align:start position:0% you do a stars proof that all those data all<00:11:12.790> that<00:11:12.819> data<00:11:13.179> was<00:11:13.419> executed<00:11:14.549> properly 00:11:16.129 --> 00:11:16.139 align:start position:0% all that data was executed properly 00:11:16.139 --> 00:11:18.030 align:start position:0% all that data was executed properly optimistic<00:11:17.139> roll-up<00:11:17.439> basically<00:11:17.739> combines 00:11:18.030 --> 00:11:18.040 align:start position:0% optimistic roll-up basically combines 00:11:18.040 --> 00:11:20.069 align:start position:0% optimistic roll-up basically combines the<00:11:18.220> two<00:11:18.339> ideas<00:11:18.639> we've<00:11:19.119> execute<00:11:19.720> everything 00:11:20.069 --> 00:11:20.079 align:start position:0% the two ideas we've execute everything 00:11:20.079 --> 00:11:22.289 align:start position:0% the two ideas we've execute everything optimistically<00:11:20.739> is<00:11:21.279> blocks<00:11:21.669> that<00:11:21.819> are<00:11:21.939> posted 00:11:22.289 --> 00:11:22.299 align:start position:0% optimistically is blocks that are posted 00:11:22.299 --> 00:11:24.299 align:start position:0% optimistically is blocks that are posted and<00:11:22.389> you<00:11:22.480> assume<00:11:22.749> that<00:11:22.779> they're<00:11:23.049> valid<00:11:23.439> but 00:11:24.299 --> 00:11:24.309 align:start position:0% and you assume that they're valid but 00:11:24.309 --> 00:11:26.639 align:start position:0% and you assume that they're valid but then<00:11:24.489> you<00:11:24.669> post<00:11:25.089> the<00:11:25.480> data<00:11:25.660> that<00:11:25.839> you<00:11:25.959> need<00:11:26.139> for 00:11:26.639 --> 00:11:26.649 align:start position:0% then you post the data that you need for 00:11:26.649 --> 00:11:29.809 align:start position:0% then you post the data that you need for the<00:11:26.859> Frog<00:11:27.069> proof<00:11:27.369> to<00:11:27.970> ethereal 00:11:29.809 --> 00:11:29.819 align:start position:0% the Frog proof to ethereal 00:11:29.819 --> 00:11:33.049 align:start position:0% the Frog proof to ethereal okay<00:11:30.819> so<00:11:30.879> optimistic<00:11:31.629> roll-up<00:11:31.929> is<00:11:32.049> lit 00:11:33.049 --> 00:11:33.059 align:start position:0% okay so optimistic roll-up is lit 00:11:33.059 --> 00:11:35.479 align:start position:0% okay so optimistic roll-up is lit optimistic<00:11:34.059> roll-up<00:11:34.359> can<00:11:34.629> scale<00:11:34.899> Eunice<00:11:35.230> pop 00:11:35.479 --> 00:11:35.489 align:start position:0% optimistic roll-up can scale Eunice pop 00:11:35.489 --> 00:11:38.460 align:start position:0% optimistic roll-up can scale Eunice pop we<00:11:36.489> can<00:11:36.850> do<00:11:36.970> generalize<00:11:37.389> mark<00:11:37.660> contract<00:11:38.019> oh<00:11:38.109> oh 00:11:38.460 --> 00:11:38.470 align:start position:0% we can do generalize mark contract oh oh 00:11:38.470 --> 00:11:40.289 align:start position:0% we can do generalize mark contract oh oh yeah<00:11:38.799> an<00:11:38.949> optimistic<00:11:39.279> roll<00:11:39.519> up<00:11:39.639> in<00:11:39.790> scale 00:11:40.289 --> 00:11:40.299 align:start position:0% yeah an optimistic roll up in scale 00:11:40.299 --> 00:11:42.059 align:start position:0% yeah an optimistic roll up in scale generalized<00:11:40.869> interoperable<00:11:41.470> Smart<00:11:41.739> Objects 00:11:42.059 --> 00:11:42.069 align:start position:0% generalized interoperable Smart Objects 00:11:42.069 --> 00:11:45.299 align:start position:0% generalized interoperable Smart Objects an<00:11:42.309> ethereal<00:11:42.790> so<00:11:43.529> we<00:11:44.529> can<00:11:44.679> continue<00:11:45.069> to<00:11:45.189> build 00:11:45.299 --> 00:11:45.309 align:start position:0% an ethereal so we can continue to build 00:11:45.309 --> 00:11:48.379 align:start position:0% an ethereal so we can continue to build up<00:11:45.609> on<00:11:45.819> top<00:11:45.850> latina<00:11:46.359> swap<00:11:46.600> while<00:11:47.290> scaling<00:11:47.709> you 00:11:48.379 --> 00:11:48.389 align:start position:0% up on top latina swap while scaling you 00:11:48.389 --> 00:11:51.150 align:start position:0% up on top latina swap while scaling you some<00:11:49.389> some<00:11:49.689> credit<00:11:49.959> to<00:11:50.049> plasma<00:11:50.379> group<00:11:50.559> there's 00:11:51.150 --> 00:11:51.160 align:start position:0% some some credit to plasma group there's 00:11:51.160 --> 00:11:53.369 align:start position:0% some some credit to plasma group there's Karl<00:11:51.459> over<00:11:51.579> there<00:11:51.879> I<00:11:52.179> don't<00:11:52.869> know<00:11:52.989> if<00:11:53.079> anyone 00:11:53.369 --> 00:11:53.379 align:start position:0% Karl over there I don't know if anyone 00:11:53.379 --> 00:11:54.840 align:start position:0% Karl over there I don't know if anyone else<00:11:53.439> from<00:11:53.529> flattener<00:11:53.889> grips<00:11:54.040> in<00:11:54.160> here<00:11:54.399> maybe 00:11:54.840 --> 00:11:54.850 align:start position:0% else from flattener grips in here maybe 00:11:54.850 --> 00:11:58.019 align:start position:0% else from flattener grips in here maybe not<00:11:55.139> but<00:11:56.139> middle<00:11:56.980> of<00:11:57.069> England<00:11:57.459> when<00:11:57.579> Karl 00:11:58.019 --> 00:11:58.029 align:start position:0% not but middle of England when Karl 00:11:58.029 --> 00:12:00.659 align:start position:0% not but middle of England when Karl flourish<00:11:58.299> Ben<00:11:58.629> Jones<00:11:58.839> will<00:11:59.529> Meister<00:11:59.919> and<00:12:00.519> then 00:12:00.659 --> 00:12:00.669 align:start position:0% flourish Ben Jones will Meister and then 00:12:00.669 --> 00:12:04.530 align:start position:0% flourish Ben Jones will Meister and then cut<00:12:01.360> it<00:12:01.389> to<00:12:01.509> the<00:12:01.600> tower<00:12:01.779> group 00:12:04.530 --> 00:12:04.540 align:start position:0% 00:12:04.540 --> 00:12:07.930 align:start position:0% aleck<00:12:05.540> who<00:12:05.960> had<00:12:06.410> also<00:12:06.620> done<00:12:06.950> a<00:12:07.130> lot<00:12:07.160> of<00:12:07.490> most<00:12:07.760> of 00:12:07.930 --> 00:12:07.940 align:start position:0% aleck who had also done a lot of most of 00:12:07.940 --> 00:12:09.700 align:start position:0% aleck who had also done a lot of most of the<00:12:08.060> research<00:12:08.390> how<00:12:08.900> most<00:12:09.110> have<00:12:09.260> researched<00:12:09.560> by 00:12:09.700 --> 00:12:09.710 align:start position:0% the research how most have researched by 00:12:09.710 --> 00:12:11.710 align:start position:0% the research how most have researched by he<00:12:09.860> you<00:12:10.430> know<00:12:10.550> there<00:12:11.300> was<00:12:11.390> a<00:12:11.420> platinum 00:12:11.710 --> 00:12:11.720 align:start position:0% he you know there was a platinum 00:12:11.720 --> 00:12:13.300 align:start position:0% he you know there was a platinum research<00:12:12.140> to<00:12:12.260> the<00:12:12.380> role<00:12:12.680> of<00:12:12.710> recent<00:12:13.070> research 00:12:13.300 --> 00:12:13.310 align:start position:0% research to the role of recent research 00:12:13.310 --> 00:12:18.280 align:start position:0% research to the role of recent research for<00:12:14.210> sure<00:12:14.390> and<00:12:15.290> creating<00:12:15.920> a<00:12:15.950> theory<00:12:17.110> so<00:12:18.110> an 00:12:18.280 --> 00:12:18.290 align:start position:0% for sure and creating a theory so an 00:12:18.290 --> 00:12:20.260 align:start position:0% for sure and creating a theory so an optimistic<00:12:18.650> develop<00:12:19.100> do<00:12:19.460> unit<00:12:19.730> swap<00:12:19.910> yes<00:12:20.150> it 00:12:20.260 --> 00:12:20.270 align:start position:0% optimistic develop do unit swap yes it 00:12:20.270 --> 00:12:23.830 align:start position:0% optimistic develop do unit swap yes it can<00:12:20.450> and<00:12:20.780> we<00:12:21.590> built<00:12:21.830> it<00:12:21.980> and<00:12:22.190> can<00:12:23.180> do<00:12:23.270> about<00:12:23.570> and 00:12:23.830 --> 00:12:23.840 align:start position:0% can and we built it and can do about and 00:12:23.840 --> 00:12:26.230 align:start position:0% can and we built it and can do about and by<00:12:23.990> we<00:12:24.200> I<00:12:24.230> mean<00:12:24.350> you<00:12:25.310> know<00:12:25.670> swap<00:12:25.880> created<00:12:26.150> a 00:12:26.230 --> 00:12:26.240 align:start position:0% by we I mean you know swap created a 00:12:26.240 --> 00:12:28.470 align:start position:0% by we I mean you know swap created a front<00:12:26.450> end<00:12:26.600> and<00:12:26.810> a<00:12:26.990> group<00:12:27.680> created<00:12:28.010> back<00:12:28.160> end 00:12:28.470 --> 00:12:28.480 align:start position:0% front end and a group created back end 00:12:28.480 --> 00:12:31.660 align:start position:0% front end and a group created back end it<00:12:29.480> can<00:12:29.690> do<00:12:29.810> about<00:12:30.230> 250<00:12:30.920> transactions<00:12:31.580> per 00:12:31.660 --> 00:12:31.670 align:start position:0% it can do about 250 transactions per 00:12:31.670 --> 00:12:34.450 align:start position:0% it can do about 250 transactions per second<00:12:32.060> or<00:12:32.450> it<00:12:32.780> can<00:12:32.960> if<00:12:33.800> we<00:12:33.860> optimize<00:12:34.430> the 00:12:34.450 --> 00:12:34.460 align:start position:0% second or it can if we optimize the 00:12:34.460 --> 00:12:39.430 align:start position:0% second or it can if we optimize the client<00:12:35.200> on<00:12:36.200> Istanbul<00:12:37.720> it<00:12:38.720> can<00:12:38.960> you<00:12:39.170> know<00:12:39.290> has 00:12:39.430 --> 00:12:39.440 align:start position:0% client on Istanbul it can you know has 00:12:39.440 --> 00:12:41.140 align:start position:0% client on Istanbul it can you know has native<00:12:39.620> meta<00:12:39.890> transactions<00:12:40.520> that<00:12:40.880> you<00:12:40.940> can 00:12:41.140 --> 00:12:41.150 align:start position:0% native meta transactions that you can 00:12:41.150 --> 00:12:45.340 align:start position:0% native meta transactions that you can queue<00:12:41.360> up<00:12:41.390> multiple<00:12:41.840> transactions<00:12:42.550> and<00:12:44.350> we 00:12:45.340 --> 00:12:45.350 align:start position:0% queue up multiple transactions and we 00:12:45.350 --> 00:12:47.020 align:start position:0% queue up multiple transactions and we have<00:12:45.500> it<00:12:45.680> was<00:12:45.770> built<00:12:45.980> by<00:12:46.100> UNESCO<00:12:46.430> and<00:12:46.610> Plasma 00:12:47.020 --> 00:12:47.030 align:start position:0% have it was built by UNESCO and Plasma 00:12:47.030 --> 00:12:49.660 align:start position:0% have it was built by UNESCO and Plasma group<00:12:47.210> so<00:12:48.110> now<00:12:48.140> I'm<00:12:48.710> gonna<00:12:48.800> ask<00:12:49.040> you<00:12:49.160> all<00:12:49.220> to 00:12:49.660 --> 00:12:49.670 align:start position:0% group so now I'm gonna ask you all to 00:12:49.670 --> 00:12:53.350 align:start position:0% group so now I'm gonna ask you all to pick<00:12:49.760> a<00:12:49.820> team<00:12:50.890> really<00:12:51.890> important<00:12:52.370> are<00:12:53.240> you 00:12:53.350 --> 00:12:53.360 align:start position:0% pick a team really important are you 00:12:53.360 --> 00:12:54.220 align:start position:0% pick a team really important are you Team<00:12:53.570> Unicorn 00:12:54.220 --> 00:12:54.230 align:start position:0% Team Unicorn 00:12:54.230 --> 00:12:56.110 align:start position:0% Team Unicorn you<00:12:54.350> know<00:12:54.470> ones<00:12:54.680> are<00:12:54.830> majestic<00:12:55.100> their<00:12:55.850> side 00:12:56.110 --> 00:12:56.120 align:start position:0% you know ones are majestic their side 00:12:56.120 --> 00:12:58.690 align:start position:0% you know ones are majestic their side they're<00:12:56.900> beautiful<00:12:57.290> and<00:12:57.500> they<00:12:58.280> love<00:12:58.460> long 00:12:58.690 --> 00:12:58.700 align:start position:0% they're beautiful and they love long 00:12:58.700 --> 00:13:02.470 align:start position:0% they're beautiful and they love long walks<00:12:58.730> in<00:12:59.150> nature<00:13:00.160> or<00:13:01.160> are<00:13:01.850> you<00:13:01.940> can<00:13:02.150> hitting 00:13:02.470 --> 00:13:02.480 align:start position:0% walks in nature or are you can hitting 00:13:02.480 --> 00:13:04.960 align:start position:0% walks in nature or are you can hitting take<00:13:03.440> that<00:13:03.590> cute<00:13:03.830> they're<00:13:04.490> very<00:13:04.670> smart 00:13:04.960 --> 00:13:04.970 align:start position:0% take that cute they're very smart 00:13:04.970 --> 00:13:07.060 align:start position:0% take that cute they're very smart they're<00:13:05.930> the<00:13:06.110> life<00:13:06.290> of<00:13:06.440> the<00:13:06.500> party<00:13:06.800> and<00:13:06.830> they 00:13:07.060 --> 00:13:07.070 align:start position:0% they're the life of the party and they 00:13:07.070 --> 00:13:08.820 align:start position:0% they're the life of the party and they love<00:13:07.220> eating<00:13:07.430> until<00:13:07.850> they<00:13:07.940> fall<00:13:08.120> asleep<00:13:08.240> okay 00:13:08.820 --> 00:13:08.830 align:start position:0% love eating until they fall asleep okay 00:13:08.830 --> 00:13:25.660 align:start position:0% love eating until they fall asleep okay raise<00:13:09.830> your<00:13:09.860> hands<00:13:10.130> a<00:13:10.220> new<00:13:10.340> team<00:13:10.520> unique<00:13:19.540> okay 00:13:25.660 --> 00:13:25.670 align:start position:0% 00:13:25.670 --> 00:13:26.890 align:start position:0% [Music] 00:13:26.890 --> 00:13:26.900 align:start position:0% [Music] 00:13:26.900 --> 00:13:31.750 align:start position:0% [Music] okay<00:13:29.140> it<00:13:30.140> seems<00:13:30.380> to<00:13:30.529> be<00:13:30.589> 50/50<00:13:31.160> mathematically 00:13:31.750 --> 00:13:31.760 align:start position:0% okay it seems to be 50/50 mathematically 00:13:31.760 --> 00:13:38.460 align:start position:0% okay it seems to be 50/50 mathematically but<00:13:31.970> I'm<00:13:32.510> in<00:13:32.630> this<00:13:32.720> room<00:13:33.279> if<00:13:34.279> the<00:13:34.490> page<00:13:34.670> like 00:13:38.460 --> 00:13:38.470 align:start position:0% 00:13:38.470 --> 00:13:42.220 align:start position:0% it's<00:13:39.470> called<00:13:39.740> unit<00:13:40.010> big<00:13:40.190> dot<00:13:40.580> exchange<00:13:41.230> I'm 00:13:42.220 --> 00:13:42.230 align:start position:0% it's called unit big dot exchange I'm 00:13:42.230 --> 00:13:48.040 align:start position:0% it's called unit big dot exchange I'm gonna<00:13:42.500> demo<00:13:42.980> it<00:13:43.070> right<00:13:43.339> now<00:13:43.490> I<00:13:43.850> think<00:13:44.300> I<00:13:47.050> have 00:13:48.040 --> 00:13:48.050 align:start position:0% gonna demo it right now I think I have 00:13:48.050 --> 00:14:04.370 align:start position:0% gonna demo it right now I think I have time<00:13:48.230> good<00:13:51.790> all<00:13:52.790> right 00:14:04.370 --> 00:14:04.380 align:start position:0% 00:14:04.380 --> 00:14:06.950 align:start position:0% I<00:14:04.760> actually<00:14:05.760> have<00:14:06.150> people<00:14:06.480> to<00:14:06.660> heart 00:14:06.950 --> 00:14:06.960 align:start position:0% I actually have people to heart 00:14:06.960 --> 00:14:25.140 align:start position:0% I actually have people to heart regressions 00:14:25.140 --> 00:14:25.150 align:start position:0% 00:14:25.150 --> 00:14:28.890 align:start position:0% I<00:14:25.180> wanted<00:14:26.020> to<00:14:26.140> okay<00:14:26.950> go<00:14:27.630> alright<00:14:28.630> you<00:14:28.810> know 00:14:28.890 --> 00:14:28.900 align:start position:0% I wanted to okay go alright you know 00:14:28.900 --> 00:14:30.990 align:start position:0% I wanted to okay go alright you know thinking<00:14:29.260> that<00:14:29.620> exchange<00:14:30.040> and<00:14:30.339> a<00:14:30.430> demo<00:14:30.790> with 00:14:30.990 --> 00:14:31.000 align:start position:0% thinking that exchange and a demo with 00:14:31.000 --> 00:14:33.690 align:start position:0% thinking that exchange and a demo with Eunice<00:14:31.240> pop<00:14:31.420> an<00:14:31.660> optimistic<00:14:32.050> roll<00:14:32.350> up<00:14:32.700> and 00:14:33.690 --> 00:14:33.700 align:start position:0% Eunice pop an optimistic roll up and 00:14:33.700 --> 00:14:36.590 align:start position:0% Eunice pop an optimistic roll up and working<00:14:33.880> on<00:14:34.060> it<00:14:34.089> for<00:14:34.300> the<00:14:34.330> last<00:14:34.510> month 00:14:36.590 --> 00:14:36.600 align:start position:0% working on it for the last month 00:14:36.600 --> 00:14:39.269 align:start position:0% working on it for the last month alright<00:14:37.600> so<00:14:37.839> the<00:14:38.320> first<00:14:38.350> thing<00:14:38.650> you<00:14:38.770> we<00:14:39.100> need 00:14:39.269 --> 00:14:39.279 align:start position:0% alright so the first thing you we need 00:14:39.279 --> 00:14:40.950 align:start position:0% alright so the first thing you we need some<00:14:39.520> form<00:14:39.850> of<00:14:39.910> civil<00:14:40.150> resistance<00:14:40.240> because 00:14:40.950 --> 00:14:40.960 align:start position:0% some form of civil resistance because 00:14:40.960 --> 00:14:42.150 align:start position:0% some form of civil resistance because the<00:14:40.990> money<00:14:41.290> is<00:14:41.470> all<00:14:41.620> fake 00:14:42.150 --> 00:14:42.160 align:start position:0% the money is all fake 00:14:42.160 --> 00:14:45.600 align:start position:0% the money is all fake we<00:14:42.460> can't<00:14:42.700> show<00:14:42.850> you<00:14:42.880> fees<00:14:44.370> alright<00:14:45.370> so<00:14:45.520> you 00:14:45.600 --> 00:14:45.610 align:start position:0% we can't show you fees alright so you 00:14:45.610 --> 00:14:48.930 align:start position:0% we can't show you fees alright so you can<00:14:45.670> fo<00:14:46.000> get<00:14:46.300> tokens<00:14:46.690> from<00:14:46.750> Twitter<00:14:47.490> we<00:14:48.490> have<00:14:48.670> a 00:14:48.930 --> 00:14:48.940 align:start position:0% can fo get tokens from Twitter we have a 00:14:48.940 --> 00:14:51.180 align:start position:0% can fo get tokens from Twitter we have a pretty<00:14:49.240> great<00:14:49.450> Farrah<00:14:49.900> Fawcett<00:14:50.290> alright<00:14:51.070> it 00:14:51.180 --> 00:14:51.190 align:start position:0% pretty great Farrah Fawcett alright it 00:14:51.190 --> 00:14:52.829 align:start position:0% pretty great Farrah Fawcett alright it brings<00:14:51.370> up<00:14:51.520> is<00:14:51.790> tweeting<00:14:52.360> at<00:14:52.480> you<00:14:52.600> the<00:14:52.690> pig 00:14:52.829 --> 00:14:52.839 align:start position:0% brings up is tweeting at you the pig 00:14:52.839 --> 00:15:03.780 align:start position:0% brings up is tweeting at you the pig exchange<00:14:53.760> in<00:14:54.760> a<00:14:54.880> tweet<00:15:01.050> yeah<00:15:02.050> okay<00:15:03.010> so<00:15:03.670> we<00:15:03.760> just 00:15:03.780 --> 00:15:03.790 align:start position:0% exchange in a tweet yeah okay so we just 00:15:03.790 --> 00:15:06.030 align:start position:0% exchange in a tweet yeah okay so we just got<00:15:04.000> sent<00:15:04.360> 30<00:15:04.660> uni<00:15:05.050> tokens<00:15:05.410> and<00:15:05.620> 30<00:15:05.770> piggy 00:15:06.030 --> 00:15:06.040 align:start position:0% got sent 30 uni tokens and 30 piggy 00:15:06.040 --> 00:15:08.370 align:start position:0% got sent 30 uni tokens and 30 piggy tokens<00:15:06.430> on<00:15:06.580> our<00:15:06.730> layer<00:15:06.940> to<00:15:07.150> wallet<00:15:07.540> this 00:15:08.370 --> 00:15:08.380 align:start position:0% tokens on our layer to wallet this 00:15:08.380 --> 00:15:10.860 align:start position:0% tokens on our layer to wallet this wallet<00:15:08.620> is<00:15:08.800> a<00:15:08.860> burner<00:15:09.400> wallet<00:15:09.850> built<00:15:10.570> into<00:15:10.779> the 00:15:10.860 --> 00:15:10.870 align:start position:0% wallet is a burner wallet built into the 00:15:10.870 --> 00:15:17.280 align:start position:0% wallet is a burner wallet built into the browser<00:15:11.339> you<00:15:12.339> see<00:15:12.400> there's<00:15:13.390> a<00:15:13.480> wallet<00:15:14.820> now<00:15:16.290> I'm 00:15:17.280 --> 00:15:17.290 align:start position:0% browser you see there's a wallet now I'm 00:15:17.290 --> 00:15:18.750 align:start position:0% browser you see there's a wallet now I'm like<00:15:17.589> most<00:15:17.890> Emily<00:15:18.190> was<00:15:18.310> I'm<00:15:18.370> not<00:15:18.400> gonna<00:15:18.670> be 00:15:18.750 --> 00:15:18.760 align:start position:0% like most Emily was I'm not gonna be 00:15:18.760 --> 00:15:20.850 align:start position:0% like most Emily was I'm not gonna be bidding<00:15:19.300> very<00:15:19.570> long<00:15:19.779> these<00:15:20.170> transactions<00:15:20.740> to 00:15:20.850 --> 00:15:20.860 align:start position:0% bidding very long these transactions to 00:15:20.860 --> 00:15:32.990 align:start position:0% bidding very long these transactions to confirm<00:15:22.140> and<00:15:23.140> it's<00:15:23.350> done 00:15:32.990 --> 00:15:33.000 align:start position:0% 00:15:33.000 --> 00:15:37.710 align:start position:0% and<00:15:34.000> it's<00:15:34.240> done<00:15:35.910> we<00:15:36.910> don't<00:15:37.090> want<00:15:37.270> to<00:15:37.390> we<00:15:37.540> want 00:15:37.710 --> 00:15:37.720 align:start position:0% and it's done we don't want to we want 00:15:37.720 --> 00:15:39.870 align:start position:0% and it's done we don't want to we want to<00:15:37.840> we<00:15:38.140> want<00:15:38.170> to<00:15:38.380> sell<00:15:38.740> all<00:15:38.890> our<00:15:38.920> pigs<00:15:39.250> so<00:15:39.700> that 00:15:39.870 --> 00:15:39.880 align:start position:0% to we want to sell all our pigs so that 00:15:39.880 --> 00:15:46.040 align:start position:0% to we want to sell all our pigs so that increases<00:15:40.180> the<00:15:40.390> value<00:15:40.420> of<00:15:43.080> okay<00:15:44.080> we<00:15:44.260> also<00:15:44.380> have 00:15:46.040 --> 00:15:46.050 align:start position:0% increases the value of okay we also have 00:15:46.050 --> 00:15:52.560 align:start position:0% increases the value of okay we also have good<00:15:47.050> integrity<00:15:50.310> of<00:15:51.310> this<00:15:51.460> is<00:15:51.730> is<00:15:52.270> basically 00:15:52.560 --> 00:15:52.570 align:start position:0% good integrity of this is is basically 00:15:52.570 --> 00:15:54.600 align:start position:0% good integrity of this is is basically to<00:15:52.750> encourage<00:15:52.900> participation<00:15:53.440> of<00:15:54.130> two<00:15:54.280> people 00:15:54.600 --> 00:15:54.610 align:start position:0% to encourage participation of two people 00:15:54.610 --> 00:15:57.750 align:start position:0% to encourage participation of two people who<00:15:54.730> match<00:15:54.970> up<00:15:55.180> and<00:15:55.980> they<00:15:56.980> both<00:15:57.190> have<00:15:57.430> wallets 00:15:57.750 --> 00:15:57.760 align:start position:0% who match up and they both have wallets 00:15:57.760 --> 00:16:08.760 align:start position:0% who match up and they both have wallets on<00:15:58.620> they<00:15:59.620> can<00:16:00.220> scan<00:16:01.090> each<00:16:01.270> other<00:16:04.350> ready<00:16:07.770> just 00:16:08.760 --> 00:16:08.770 align:start position:0% on they can scan each other ready just 00:16:08.770 --> 00:16:14.340 align:start position:0% on they can scan each other ready just like<00:16:08.920> that<00:16:09.480> report<00:16:12.660> there<00:16:13.660> you<00:16:13.750> go<00:16:13.870> and<00:16:14.110> I<00:16:14.200> got 00:16:14.340 --> 00:16:14.350 align:start position:0% like that report there you go and I got 00:16:14.350 --> 00:16:16.020 align:start position:0% like that report there you go and I got 10<00:16:14.560> tokens<00:16:14.710> on<00:16:15.010> this<00:16:15.130> account<00:16:15.340> and<00:16:15.640> tokens<00:16:15.940> on 00:16:16.020 --> 00:16:16.030 align:start position:0% 10 tokens on this account and tokens on 00:16:16.030 --> 00:16:18.870 align:start position:0% 10 tokens on this account and tokens on the<00:16:16.120> other<00:16:16.240> account<00:16:16.950> yeah<00:16:17.950> so<00:16:18.160> the<00:16:18.310> the<00:16:18.730> real 00:16:18.870 --> 00:16:18.880 align:start position:0% the other account yeah so the the real 00:16:18.880 --> 00:16:20.700 align:start position:0% the other account yeah so the the real thing<00:16:19.150> with<00:16:19.600> optimistic<00:16:20.080> roll-up<00:16:20.350> is<00:16:20.470> it's<00:16:20.620> a 00:16:20.700 --> 00:16:20.710 align:start position:0% thing with optimistic roll-up is it's a 00:16:20.710 --> 00:16:25.170 align:start position:0% thing with optimistic roll-up is it's a massive<00:16:21.340> massive<00:16:22.090> UX<00:16:23.020> improvement<00:16:23.560> over<00:16:24.370> over 00:16:25.170 --> 00:16:25.180 align:start position:0% massive massive UX improvement over over 00:16:25.180 --> 00:16:27.240 align:start position:0% massive massive UX improvement over over using<00:16:25.450> in<00:16:25.840> the<00:16:25.990> base<00:16:26.110> train<00:16:26.380> right<00:16:26.980> you<00:16:27.100> can 00:16:27.240 --> 00:16:27.250 align:start position:0% using in the base train right you can 00:16:27.250 --> 00:16:30.900 align:start position:0% using in the base train right you can get<00:16:27.370> instant<00:16:27.760> confirmation<00:16:28.500> you<00:16:29.500> can<00:16:29.710> get<00:16:29.980> two 00:16:30.900 --> 00:16:30.910 align:start position:0% get instant confirmation you can get two 00:16:30.910 --> 00:16:33.780 align:start position:0% get instant confirmation you can get two of<00:16:30.940> your<00:16:31.060> 50<00:16:31.300> transaction<00:16:31.780> for<00:16:31.840> a<00:16:31.930> second<00:16:32.790> you 00:16:33.780 --> 00:16:33.790 align:start position:0% of your 50 transaction for a second you 00:16:33.790 --> 00:16:35.100 align:start position:0% of your 50 transaction for a second you can<00:16:34.090> you<00:16:34.390> know<00:16:34.480> you<00:16:34.540> don't<00:16:34.690> need<00:16:34.780> to<00:16:34.840> do<00:16:34.990> the 00:16:35.100 --> 00:16:35.110 align:start position:0% can you know you don't need to do the 00:16:35.110 --> 00:16:36.330 align:start position:0% can you know you don't need to do the approve<00:16:35.410> and<00:16:35.590> transfer<00:16:35.920> you<00:16:36.040> can<00:16:36.100> basically 00:16:36.330 --> 00:16:36.340 align:start position:0% approve and transfer you can basically 00:16:36.340 --> 00:16:38.490 align:start position:0% approve and transfer you can basically queue<00:16:37.000> them<00:16:37.150> up<00:16:37.210> together<00:16:37.360> basically<00:16:38.260> doesn't 00:16:38.490 --> 00:16:38.500 align:start position:0% queue them up together basically doesn't 00:16:38.500 --> 00:16:39.740 align:start position:0% queue them up together basically doesn't need<00:16:38.590> this 00:16:39.740 --> 00:16:39.750 align:start position:0% need this 00:16:39.750 --> 00:16:42.720 align:start position:0% need this yeah<00:16:40.750> let's<00:16:41.410> hear<00:16:41.500> stats<00:16:41.830> here<00:16:42.100> so<00:16:42.460> we've<00:16:42.580> done 00:16:42.720 --> 00:16:42.730 align:start position:0% yeah let's hear stats here so we've done 00:16:42.730 --> 00:16:45.420 align:start position:0% yeah let's hear stats here so we've done about<00:16:42.880> 2100<00:16:43.750> transactions<00:16:44.350> through<00:16:45.340> our 00:16:45.420 --> 00:16:45.430 align:start position:0% about 2100 transactions through our 00:16:45.430 --> 00:16:46.650 align:start position:0% about 2100 transactions through our depth<00:16:45.610> on<00:16:45.790> we've<00:16:45.970> had<00:16:46.000> a<00:16:46.090> bunch<00:16:46.180> of<00:16:46.300> people<00:16:46.510> try 00:16:46.650 --> 00:16:46.660 align:start position:0% depth on we've had a bunch of people try 00:16:46.660 --> 00:16:49.260 align:start position:0% depth on we've had a bunch of people try this<00:16:46.720> demo<00:16:47.140> I<00:16:47.890> didn't<00:16:48.400> realize<00:16:48.610> this<00:16:48.820> I<00:16:48.970> always 00:16:49.260 --> 00:16:49.270 align:start position:0% this demo I didn't realize this I always 00:16:49.270 --> 00:16:50.640 align:start position:0% this demo I didn't realize this I always pay<00:16:49.600> really<00:16:49.870> high<00:16:49.960> gas<00:16:50.140> price<00:16:50.410> for<00:16:50.560> my 00:16:50.640 --> 00:16:50.650 align:start position:0% pay really high gas price for my 00:16:50.650 --> 00:16:52.890 align:start position:0% pay really high gas price for my transactions<00:16:51.190> the<00:16:51.310> average<00:16:51.640> gas<00:16:52.300> cost<00:16:52.630> of<00:16:52.810> a 00:16:52.890 --> 00:16:52.900 align:start position:0% transactions the average gas cost of a 00:16:52.900 --> 00:16:54.900 align:start position:0% transactions the average gas cost of a gentleman<00:16:53.590> or<00:16:53.920> the<00:16:54.040> average<00:16:54.250> wait<00:16:54.550> time<00:16:54.730> of 00:16:54.900 --> 00:16:54.910 align:start position:0% gentleman or the average wait time of 00:16:54.910 --> 00:16:56.310 align:start position:0% gentleman or the average wait time of transactions<00:16:55.390> on<00:16:55.480> aetherium<00:16:55.900> in<00:16:56.050> over<00:16:56.290> a 00:16:56.310 --> 00:16:56.320 align:start position:0% transactions on aetherium in over a 00:16:56.320 --> 00:16:57.090 align:start position:0% transactions on aetherium in over a minute 00:16:57.090 --> 00:16:57.100 align:start position:0% minute 00:16:57.100 --> 00:16:59.160 align:start position:0% minute so<00:16:57.430> we've<00:16:58.120> saved<00:16:58.300> two<00:16:58.540> thousand<00:16:58.900> six<00:16:59.050> hundred 00:16:59.160 --> 00:16:59.170 align:start position:0% so we've saved two thousand six hundred 00:16:59.170 --> 00:17:00.690 align:start position:0% so we've saved two thousand six hundred minutes<00:16:59.350> on<00:16:59.830> these<00:17:00.190> two<00:17:00.400> thousand 00:17:00.690 --> 00:17:00.700 align:start position:0% minutes on these two thousand 00:17:00.700 --> 00:17:01.350 align:start position:0% minutes on these two thousand transaction 00:17:01.350 --> 00:17:01.360 align:start position:0% transaction 00:17:01.360 --> 00:17:03.150 align:start position:0% transaction people<00:17:01.720> just<00:17:01.839> sitting<00:17:02.019> around<00:17:02.110> waiting<00:17:02.290> so 00:17:03.150 --> 00:17:03.160 align:start position:0% people just sitting around waiting so 00:17:03.160 --> 00:17:07.789 align:start position:0% people just sitting around waiting so that<00:17:03.339> a<00:17:03.550> lot<00:17:03.790> of<00:17:03.820> time<00:17:06.420> yeah 00:17:07.789 --> 00:17:07.799 align:start position:0% that a lot of time yeah 00:17:07.799 --> 00:17:09.960 align:start position:0% that a lot of time yeah all<00:17:08.799> right<00:17:08.949> anyway<00:17:09.220> I<00:17:09.250> think<00:17:09.549> I'm<00:17:09.760> gonna<00:17:09.910> open 00:17:09.960 --> 00:17:09.970 align:start position:0% all right anyway I think I'm gonna open 00:17:09.970 --> 00:17:11.460 align:start position:0% all right anyway I think I'm gonna open up<00:17:10.120> your<00:17:10.270> questions<00:17:10.630> if<00:17:11.230> you<00:17:11.319> have<00:17:11.380> any 00:17:11.460 --> 00:17:11.470 align:start position:0% up your questions if you have any 00:17:11.470 --> 00:17:13.020 align:start position:0% up your questions if you have any questions<00:17:11.829> about<00:17:11.920> this<00:17:12.100> demo<00:17:12.400> about<00:17:12.670> music<00:17:12.939> I 00:17:13.020 --> 00:17:13.030 align:start position:0% questions about this demo about music I 00:17:13.030 --> 00:17:17.250 align:start position:0% questions about this demo about music I can<00:17:13.209> too<00:17:13.360> if<00:17:15.299> the<00:17:16.299> transactions<00:17:17.020> are 00:17:17.250 --> 00:17:17.260 align:start position:0% can too if the transactions are 00:17:17.260 --> 00:17:19.829 align:start position:0% can too if the transactions are optimistic<00:17:17.709> how<00:17:18.670> soon<00:17:18.939> will<00:17:19.420> people<00:17:19.720> know 00:17:19.829 --> 00:17:19.839 align:start position:0% optimistic how soon will people know 00:17:19.839 --> 00:17:24.210 align:start position:0% optimistic how soon will people know that<00:17:20.079> my<00:17:20.490> people<00:17:21.490> know<00:17:21.579> they're<00:17:21.730> lying<00:17:22.860> okay 00:17:24.210 --> 00:17:24.220 align:start position:0% that my people know they're lying okay 00:17:24.220 --> 00:17:26.069 align:start position:0% that my people know they're lying okay as<00:17:24.730> soon<00:17:25.150> as<00:17:25.329> they<00:17:25.510> they<00:17:25.780> get<00:17:25.900> the<00:17:26.049> uh 00:17:26.069 --> 00:17:26.079 align:start position:0% as soon as they they get the uh 00:17:26.079 --> 00:17:28.890 align:start position:0% as soon as they they get the uh basically<00:17:26.980> say<00:17:27.189> you<00:17:27.240> have<00:17:28.240> someone<00:17:28.480> from<00:17:28.780> a 00:17:28.890 --> 00:17:28.900 align:start position:0% basically say you have someone from a 00:17:28.900 --> 00:17:33.360 align:start position:0% basically say you have someone from a blog<00:17:29.140> they<00:17:29.950> submit<00:17:30.549> that<00:17:30.670> block<00:17:32.130> so<00:17:33.130> it's<00:17:33.280> a 00:17:33.360 --> 00:17:33.370 align:start position:0% blog they submit that block so it's a 00:17:33.370 --> 00:17:36.390 align:start position:0% blog they submit that block so it's a block<00:17:33.760> header<00:17:33.970> and<00:17:34.530> a<00:17:35.530> half<00:17:35.650> it<00:17:35.919> can<00:17:36.070> work<00:17:36.250> over 00:17:36.390 --> 00:17:36.400 align:start position:0% block header and a half it can work over 00:17:36.400 --> 00:17:36.960 align:start position:0% block header and a half it can work over it 00:17:36.960 --> 00:17:36.970 align:start position:0% it 00:17:36.970 --> 00:17:39.360 align:start position:0% it and<00:17:37.270> then<00:17:37.450> some<00:17:37.630> daily<00:17:38.070> anyone<00:17:39.070> in<00:17:39.190> the<00:17:39.280> world 00:17:39.360 --> 00:17:39.370 align:start position:0% and then some daily anyone in the world 00:17:39.370 --> 00:17:41.430 align:start position:0% and then some daily anyone in the world as<00:17:40.299> long<00:17:40.360> a<00:17:40.510> minute<00:17:40.840> here<00:17:40.990> iam<00:17:41.110> no<00:17:41.200> and<00:17:41.350> they'll 00:17:41.430 --> 00:17:41.440 align:start position:0% as long a minute here iam no and they'll 00:17:41.440 --> 00:17:43.620 align:start position:0% as long a minute here iam no and they'll see<00:17:41.590> all<00:17:41.620> that<00:17:41.830> data<00:17:41.950> and<00:17:42.520> that's<00:17:43.120> all<00:17:43.419> they 00:17:43.620 --> 00:17:43.630 align:start position:0% see all that data and that's all they 00:17:43.630 --> 00:17:45.990 align:start position:0% see all that data and that's all they needed<00:17:43.840> to<00:17:44.220> sort<00:17:45.220> of<00:17:45.280> validate<00:17:45.400> everything 00:17:45.990 --> 00:17:46.000 align:start position:0% needed to sort of validate everything 00:17:46.000 --> 00:17:47.940 align:start position:0% needed to sort of validate everything every<00:17:46.330> transaction<00:17:46.660> like<00:17:46.960> lots<00:17:47.350> of<00:17:47.500> ideally 00:17:47.940 --> 00:17:47.950 align:start position:0% every transaction like lots of ideally 00:17:47.950 --> 00:17:49.530 align:start position:0% every transaction like lots of ideally someone's<00:17:48.250> watching<00:17:48.429> the<00:17:48.640> chain<00:17:48.820> I<00:17:49.120> knew<00:17:49.390> who 00:17:49.530 --> 00:17:49.540 align:start position:0% someone's watching the chain I knew who 00:17:49.540 --> 00:17:51.750 align:start position:0% someone's watching the chain I knew who cares<00:17:49.750> about<00:17:49.870> it<00:17:50.140> can<00:17:50.290> watch<00:17:50.440> the<00:17:50.650> chain<00:17:50.860> catch 00:17:51.750 --> 00:17:51.760 align:start position:0% cares about it can watch the chain catch 00:17:51.760 --> 00:17:55.380 align:start position:0% cares about it can watch the chain catch invalid<00:17:52.210> or<00:17:52.240> into<00:17:52.510> the<00:17:52.570> transactions<00:17:53.370> and<00:17:54.390> so 00:17:55.380 --> 00:17:55.390 align:start position:0% invalid or into the transactions and so 00:17:55.390 --> 00:17:57.270 align:start position:0% invalid or into the transactions and so basically<00:17:56.110> as<00:17:56.290> soon<00:17:56.320> as<00:17:56.500> I<00:17:56.590> submitted<00:17:56.860> someone 00:17:57.270 --> 00:17:57.280 align:start position:0% basically as soon as I submitted someone 00:17:57.280 --> 00:18:01.140 align:start position:0% basically as soon as I submitted someone who<00:17:57.400> put<00:17:57.549> on<00:17:57.640> some<00:17:57.910> swatches<00:17:58.150> you<00:17:58.419> have<00:17:58.660> it<00:18:00.150> any 00:18:01.140 --> 00:18:01.150 align:start position:0% who put on some swatches you have it any 00:18:01.150 --> 00:18:04.409 align:start position:0% who put on some swatches you have it any other<00:18:02.130> you<00:18:03.130> know<00:18:03.190> what<00:18:03.340> trading<00:18:04.179> baseball 00:18:04.409 --> 00:18:04.419 align:start position:0% other you know what trading baseball 00:18:04.419 --> 00:18:06.900 align:start position:0% other you know what trading baseball cards<00:18:04.660> or 00:18:06.900 --> 00:18:06.910 align:start position:0% cards or 00:18:06.910 --> 00:18:10.149 align:start position:0% cards or [Music] 00:18:10.149 --> 00:18:10.159 align:start position:0% 00:18:10.159 --> 00:18:12.589 align:start position:0% do<00:18:11.159> you<00:18:11.219> happen<00:18:11.369> to<00:18:11.519> work<00:18:11.700> in<00:18:11.849> a<00:18:11.879> crypt<00:18:12.330> if<00:18:12.419> none 00:18:12.589 --> 00:18:12.599 align:start position:0% do you happen to work in a crypt if none 00:18:12.599 --> 00:18:13.999 align:start position:0% do you happen to work in a crypt if none of<00:18:12.629> the<00:18:12.779> trades<00:18:12.989> that<00:18:13.080> involve<00:18:13.590> baseball 00:18:13.999 --> 00:18:14.009 align:start position:0% of the trades that involve baseball 00:18:14.009 --> 00:18:18.739 align:start position:0% of the trades that involve baseball cards<00:18:14.309> oh<00:18:16.309> no<00:18:17.309> no<00:18:17.489> I<00:18:17.519> agree<00:18:17.669> I<00:18:17.849> so<00:18:18.359> one<00:18:18.539> thing<00:18:18.690> I 00:18:18.739 --> 00:18:18.749 align:start position:0% cards oh no no I agree I so one thing I 00:18:18.749 --> 00:18:21.019 align:start position:0% cards oh no no I agree I so one thing I really<00:18:18.989> like<00:18:19.139> about<00:18:19.169> about<00:18:20.009> this<00:18:20.190> sort<00:18:20.399> of<00:18:20.429> but 00:18:21.019 --> 00:18:21.029 align:start position:0% really like about about this sort of but 00:18:21.029 --> 00:18:22.399 align:start position:0% really like about about this sort of but it's<00:18:21.450> not<00:18:21.570> really<00:18:21.779> validating<00:18:22.229> about 00:18:22.399 --> 00:18:22.409 align:start position:0% it's not really validating about 00:18:22.409 --> 00:18:24.680 align:start position:0% it's not really validating about building<00:18:22.799> this<00:18:22.919> demo<00:18:23.279> is<00:18:23.879> that<00:18:24.029> I<00:18:24.179> do<00:18:24.330> feel 00:18:24.680 --> 00:18:24.690 align:start position:0% building this demo is that I do feel 00:18:24.690 --> 00:18:27.049 align:start position:0% building this demo is that I do feel like<00:18:24.929> you<00:18:25.559> could<00:18:25.710> create<00:18:25.919> something<00:18:26.190> kind<00:18:27.029> of 00:18:27.049 --> 00:18:27.059 align:start position:0% like you could create something kind of 00:18:27.059 --> 00:18:28.659 align:start position:0% like you could create something kind of like<00:18:27.239> the<00:18:27.359> way<00:18:27.479> crypto<00:18:27.869> Kitty's<00:18:28.139> went<00:18:28.349> viral 00:18:28.659 --> 00:18:28.669 align:start position:0% like the way crypto Kitty's went viral 00:18:28.669 --> 00:18:30.859 align:start position:0% like the way crypto Kitty's went viral and<00:18:29.669> it<00:18:29.759> just<00:18:29.940> kind<00:18:30.149> of<00:18:30.239> shut<00:18:30.389> down<00:18:30.419> in<00:18:30.659> theory 00:18:30.859 --> 00:18:30.869 align:start position:0% and it just kind of shut down in theory 00:18:30.869 --> 00:18:32.599 align:start position:0% and it just kind of shut down in theory own<00:18:31.019> we<00:18:31.289> could<00:18:31.440> you<00:18:31.739> know<00:18:31.769> create<00:18:32.369> something 00:18:32.599 --> 00:18:32.609 align:start position:0% own we could you know create something 00:18:32.609 --> 00:18:34.249 align:start position:0% own we could you know create something like<00:18:32.879> that<00:18:33.059> worth<00:18:33.299> of<00:18:33.450> our<00:18:33.599> you<00:18:33.960> know<00:18:33.989> think 00:18:34.249 --> 00:18:34.259 align:start position:0% like that worth of our you know think 00:18:34.259 --> 00:18:35.749 align:start position:0% like that worth of our you know think it's<00:18:34.349> not<00:18:34.440> necessarily<00:18:34.950> like<00:18:35.039> a<00:18:35.129> super<00:18:35.429> viral 00:18:35.749 --> 00:18:35.759 align:start position:0% it's not necessarily like a super viral 00:18:35.759 --> 00:18:36.919 align:start position:0% it's not necessarily like a super viral games<00:18:35.940> because<00:18:36.269> it<00:18:36.359> doesn't<00:18:36.599> have<00:18:36.690> that<00:18:36.809> many 00:18:36.919 --> 00:18:36.929 align:start position:0% games because it doesn't have that many 00:18:36.929 --> 00:18:38.690 align:start position:0% games because it doesn't have that many elements<00:18:37.259> to<00:18:37.379> it<00:18:37.559> but<00:18:38.249> you<00:18:38.339> can<00:18:38.489> create 00:18:38.690 --> 00:18:38.700 align:start position:0% elements to it but you can create 00:18:38.700 --> 00:18:40.999 align:start position:0% elements to it but you can create something<00:18:39.089> crypto<00:18:39.779> please<00:18:40.019> like<00:18:40.259> that<00:18:40.859> could 00:18:40.999 --> 00:18:41.009 align:start position:0% something crypto please like that could 00:18:41.009 --> 00:18:42.649 align:start position:0% something crypto please like that could have<00:18:41.099> rejoined<00:18:41.399> much<00:18:41.759> much<00:18:42.119> much<00:18:42.359> wider 00:18:42.649 --> 00:18:42.659 align:start position:0% have rejoined much much much wider 00:18:42.659 --> 00:18:58.219 align:start position:0% have rejoined much much much wider audience<00:18:42.869> of<00:18:43.440> people<00:18:43.580> without<00:18:45.049> a<00:18:57.229> good 00:18:58.219 --> 00:18:58.229 align:start position:0% audience of people without a good 00:18:58.229 --> 00:19:02.060 align:start position:0% audience of people without a good question<00:18:58.679> I<00:18:59.489> think<00:19:00.210> that<00:19:00.570> the<00:19:01.409> way<00:19:01.529> that<00:19:01.769> I<00:19:01.799> see 00:19:02.060 --> 00:19:02.070 align:start position:0% question I think that the way that I see 00:19:02.070 --> 00:19:04.190 align:start position:0% question I think that the way that I see it<00:19:02.099> playing<00:19:02.369> out<00:19:02.549> is<00:19:02.849> that<00:19:03.089> for<00:19:03.929> the<00:19:04.049> vast 00:19:04.190 --> 00:19:04.200 align:start position:0% it playing out is that for the vast 00:19:04.200 --> 00:19:05.899 align:start position:0% it playing out is that for the vast majority<00:19:04.409> of<00:19:04.950> tokens<00:19:05.339> they<00:19:05.489> would<00:19:05.609> still<00:19:05.789> be 00:19:05.899 --> 00:19:05.909 align:start position:0% majority of tokens they would still be 00:19:05.909 --> 00:19:09.259 align:start position:0% majority of tokens they would still be paired<00:19:06.149> with<00:19:06.179> II<00:19:06.739> the<00:19:07.739> only<00:19:07.769> really<00:19:08.339> eath<00:19:09.029> or 00:19:09.259 --> 00:19:09.269 align:start position:0% paired with II the only really eath or 00:19:09.269 --> 00:19:11.180 align:start position:0% paired with II the only really eath or maybe<00:19:09.599> some<00:19:09.809> stable<00:19:10.109> coins 00:19:11.180 --> 00:19:11.190 align:start position:0% maybe some stable coins 00:19:11.190 --> 00:19:12.950 align:start position:0% maybe some stable coins I<00:19:11.249> think<00:19:11.820> that<00:19:11.909> there's<00:19:12.059> very<00:19:12.389> specific<00:19:12.509> use 00:19:12.950 --> 00:19:12.960 align:start position:0% I think that there's very specific use 00:19:12.960 --> 00:19:15.019 align:start position:0% I think that there's very specific use cases<00:19:13.200> I<00:19:13.830> don't<00:19:14.489> know<00:19:14.639> if<00:19:14.700> you've<00:19:14.789> heard<00:19:14.940> of 00:19:15.019 --> 00:19:15.029 align:start position:0% cases I don't know if you've heard of 00:19:15.029 --> 00:19:17.269 align:start position:0% cases I don't know if you've heard of like<00:19:15.059> yield<00:19:15.330> protocol<00:19:15.809> that<00:19:16.769> maybe<00:19:17.009> makes 00:19:17.269 --> 00:19:17.279 align:start position:0% like yield protocol that maybe makes 00:19:17.279 --> 00:19:20.329 align:start position:0% like yield protocol that maybe makes usage<00:19:17.580> of<00:19:18.539> sort<00:19:18.929> of<00:19:19.019> arbiter<00:19:19.589> of<00:19:19.619> of<00:19:20.039> the<00:19:20.219> young 00:19:20.329 --> 00:19:20.339 align:start position:0% usage of sort of arbiter of of the young 00:19:20.339 --> 00:19:22.279 align:start position:0% usage of sort of arbiter of of the young trade<00:19:20.729> fairs<00:19:20.999> but<00:19:21.479> for<00:19:21.659> most<00:19:21.809> of<00:19:21.929> them<00:19:22.049> I<00:19:22.109> just 00:19:22.279 --> 00:19:22.289 align:start position:0% trade fairs but for most of them I just 00:19:22.289 --> 00:19:24.200 align:start position:0% trade fairs but for most of them I just see<00:19:22.349> them<00:19:22.499> being<00:19:22.619> paired<00:19:22.859> like<00:19:23.070> maybe<00:19:23.519> eat 00:19:24.200 --> 00:19:24.210 align:start position:0% see them being paired like maybe eat 00:19:24.210 --> 00:19:27.169 align:start position:0% see them being paired like maybe eat maybe<00:19:24.960> die<00:19:25.200> maybe<00:19:25.979> go<00:19:26.129> Stacie<00:19:26.489> with<00:19:26.729> a<00:19:26.849> couple 00:19:27.169 --> 00:19:27.179 align:start position:0% maybe die maybe go Stacie with a couple 00:19:27.179 --> 00:19:28.669 align:start position:0% maybe die maybe go Stacie with a couple and<00:19:27.419> if<00:19:27.629> you're<00:19:27.960> only<00:19:28.049> routing<00:19:28.440> through<00:19:28.589> a 00:19:28.669 --> 00:19:28.679 align:start position:0% and if you're only routing through a 00:19:28.679 --> 00:19:29.899 align:start position:0% and if you're only routing through a couple<00:19:28.859> it's<00:19:29.129> actually<00:19:29.429> not<00:19:29.519> that<00:19:29.580> difficult 00:19:29.899 --> 00:19:29.909 align:start position:0% couple it's actually not that difficult 00:19:29.909 --> 00:19:32.029 align:start position:0% couple it's actually not that difficult to<00:19:30.179> kind<00:19:30.419> of<00:19:30.450> check<00:19:30.599> the<00:19:30.719> price<00:19:30.929> on<00:19:31.440> a<00:19:31.769> couple 00:19:32.029 --> 00:19:32.039 align:start position:0% to kind of check the price on a couple 00:19:32.039 --> 00:19:36.139 align:start position:0% to kind of check the price on a couple different<00:19:32.099> ones<00:19:33.769> yeah<00:19:34.769> actually<00:19:35.339> if<00:19:35.700> you<00:19:35.909> want 00:19:36.139 --> 00:19:36.149 align:start position:0% different ones yeah actually if you want 00:19:36.149 --> 00:19:38.810 align:start position:0% different ones yeah actually if you want to<00:19:36.299> set<00:19:36.989> the<00:19:37.049> idea<00:19:37.289> of<00:19:37.379> the<00:19:37.529> yield<00:19:38.009> protocol<00:19:38.399> is 00:19:38.810 --> 00:19:38.820 align:start position:0% to set the idea of the yield protocol is 00:19:38.820 --> 00:19:41.509 align:start position:0% to set the idea of the yield protocol is that<00:19:38.969> if<00:19:39.059> you<00:19:39.320> pick<00:19:40.320> Y<00:19:40.499> tokens<00:19:40.919> and<00:19:41.070> pull<00:19:41.339> them 00:19:41.509 --> 00:19:41.519 align:start position:0% that if you pick Y tokens and pull them 00:19:41.519 --> 00:19:42.310 align:start position:0% that if you pick Y tokens and pull them a<00:19:41.549> terrorist 00:19:42.310 --> 00:19:42.320 align:start position:0% a terrorist 00:19:42.320 --> 00:19:44.590 align:start position:0% a terrorist respective<00:19:42.740> tokens<00:19:43.040> if<00:19:43.190> you'd<00:19:43.280> like<00:19:43.460> yok<00:19:44.000> R<00:19:44.150> + 00:19:44.590 --> 00:19:44.600 align:start position:0% respective tokens if you'd like yok R + 00:19:44.600 --> 00:19:46.630 align:start position:0% respective tokens if you'd like yok R + MK<00:19:44.840> r<00:19:44.870> I'm<00:19:45.560> Eunice<00:19:45.830> wah<00:19:46.010> and<00:19:46.190> you<00:19:46.430> have<00:19:46.520> the 00:19:46.630 --> 00:19:46.640 align:start position:0% MK r I'm Eunice wah and you have the 00:19:46.640 --> 00:19:48.400 align:start position:0% MK r I'm Eunice wah and you have the Oracle<00:19:46.940> features<00:19:47.210> when<00:19:47.840> you<00:19:47.930> can<00:19:48.080> create<00:19:48.290> an 00:19:48.400 --> 00:19:48.410 align:start position:0% Oracle features when you can create an 00:19:48.410 --> 00:19:50.020 align:start position:0% Oracle features when you can create an interest<00:19:48.680> rate<00:19:48.800> Oracle<00:19:49.250> doing<00:19:49.940> this 00:19:50.020 --> 00:19:50.030 align:start position:0% interest rate Oracle doing this 00:19:50.030 --> 00:19:53.140 align:start position:0% interest rate Oracle doing this consistently<00:19:50.240> calm<00:19:50.900> down<00:19:51.820> yeah<00:19:52.850> any<00:19:53.000> other 00:19:53.140 --> 00:19:53.150 align:start position:0% consistently calm down yeah any other 00:19:53.150 --> 00:19:57.280 align:start position:0% consistently calm down yeah any other questions<00:19:55.030> I've<00:19:56.030> heard<00:19:56.510> discussions<00:19:57.110> about 00:19:57.280 --> 00:19:57.290 align:start position:0% questions I've heard discussions about 00:19:57.290 --> 00:20:01.060 align:start position:0% questions I've heard discussions about the<00:19:57.980> termite<00:19:58.400> determining<00:19:59.150> the<00:20:00.070> transaction 00:20:01.060 --> 00:20:01.070 align:start position:0% the termite determining the transaction 00:20:01.070 --> 00:20:03.040 align:start position:0% the termite determining the transaction feel<00:20:01.250> yunusov<00:20:01.760> as<00:20:02.000> it<00:20:02.240> meets<00:20:02.420> or<00:20:02.570> really<00:20:02.840> have 00:20:03.040 --> 00:20:03.050 align:start position:0% feel yunusov as it meets or really have 00:20:03.050 --> 00:20:05.790 align:start position:0% feel yunusov as it meets or really have a<00:20:03.110> constant<00:20:03.650> slippage<00:20:04.100> for<00:20:04.370> a<00:20:04.400> given<00:20:04.760> price 00:20:05.790 --> 00:20:05.800 align:start position:0% a constant slippage for a given price 00:20:05.800 --> 00:20:09.370 align:start position:0% a constant slippage for a given price and<00:20:06.800> you<00:20:06.920> research<00:20:07.510> like<00:20:08.510> instead<00:20:08.960> of<00:20:09.110> using<00:20:09.230> a 00:20:09.370 --> 00:20:09.380 align:start position:0% and you research like instead of using a 00:20:09.380 --> 00:20:10.690 align:start position:0% and you research like instead of using a point<00:20:09.620> three<00:20:09.830> percent<00:20:09.980> it<00:20:10.280> just<00:20:10.460> having 00:20:10.690 --> 00:20:10.700 align:start position:0% point three percent it just having 00:20:10.700 --> 00:20:14.770 align:start position:0% point three percent it just having something<00:20:10.910> that's<00:20:11.150> more<00:20:12.940> there<00:20:13.940> is<00:20:14.090> there<00:20:14.630> has 00:20:14.770 --> 00:20:14.780 align:start position:0% something that's more there is there has 00:20:14.780 --> 00:20:16.390 align:start position:0% something that's more there is there has been<00:20:14.810> research<00:20:15.290> if<00:20:15.590> you<00:20:15.650> love<00:20:15.920> that<00:20:16.100> research 00:20:16.390 --> 00:20:16.400 align:start position:0% been research if you love that research 00:20:16.400 --> 00:20:17.770 align:start position:0% been research if you love that research I<00:20:16.520> don't<00:20:16.670> have<00:20:16.760> you<00:20:16.820> know<00:20:16.940> comparative 00:20:17.770 --> 00:20:17.780 align:start position:0% I don't have you know comparative 00:20:17.780 --> 00:20:21.030 align:start position:0% I don't have you know comparative Charlie<00:20:18.200> noise<00:20:18.610> paradigm<00:20:19.610> media 00:20:21.030 --> 00:20:21.040 align:start position:0% Charlie noise paradigm media 00:20:21.040 --> 00:20:24.280 align:start position:0% Charlie noise paradigm media investigating<00:20:22.040> investigating<00:20:22.940> that<00:20:23.140> at<00:20:24.140> the 00:20:24.280 --> 00:20:24.290 align:start position:0% investigating investigating that at the 00:20:24.290 --> 00:20:27.300 align:start position:0% investigating investigating that at the current<00:20:24.590> moment<00:20:24.700> I<00:20:25.700> don't<00:20:26.390> have<00:20:26.600> any<00:20:26.810> sort<00:20:27.080> of 00:20:27.300 --> 00:20:27.310 align:start position:0% current moment I don't have any sort of 00:20:27.310 --> 00:20:30.760 align:start position:0% current moment I don't have any sort of formula<00:20:28.310> that<00:20:28.340> I<00:20:28.520> can<00:20:28.730> choose<00:20:28.880> a<00:20:28.940> better<00:20:29.770> what 00:20:30.760 --> 00:20:30.770 align:start position:0% formula that I can choose a better what 00:20:30.770 --> 00:20:32.110 align:start position:0% formula that I can choose a better what options<00:20:31.100> you<00:20:31.190> could<00:20:31.370> just<00:20:31.520> really<00:20:31.760> create<00:20:32.090> a 00:20:32.110 --> 00:20:32.120 align:start position:0% options you could just really create a 00:20:32.120 --> 00:20:34.570 align:start position:0% options you could just really create a pool<00:20:32.420> that<00:20:32.450> fuses<00:20:32.990> in<00:20:33.110> nominations<00:20:33.740> them<00:20:33.890> we 00:20:34.570 --> 00:20:34.580 align:start position:0% pool that fuses in nominations them we 00:20:34.580 --> 00:20:36.220 align:start position:0% pool that fuses in nominations them we problem<00:20:34.910> there<00:20:35.150> is<00:20:35.210> you<00:20:35.270> once<00:20:35.480> again<00:20:35.600> national 00:20:36.220 --> 00:20:36.230 align:start position:0% problem there is you once again national 00:20:36.230 --> 00:20:37.990 align:start position:0% problem there is you once again national quiddity<00:20:36.550> it's<00:20:37.550> definitely<00:20:37.850> like<00:20:37.970> a 00:20:37.990 --> 00:20:38.000 align:start position:0% quiddity it's definitely like a 00:20:38.000 --> 00:20:41.200 align:start position:0% quiddity it's definitely like a important<00:20:38.750> Eric<00:20:38.990> research<00:20:39.290> I<00:20:40.030> some<00:20:41.030> of<00:20:41.090> my 00:20:41.200 --> 00:20:41.210 align:start position:0% important Eric research I some of my 00:20:41.210 --> 00:20:44.020 align:start position:0% important Eric research I some of my intuition<00:20:41.570> around<00:20:41.780> this<00:20:41.930> is<00:20:42.440> basically<00:20:43.030> if 00:20:44.020 --> 00:20:44.030 align:start position:0% intuition around this is basically if 00:20:44.030 --> 00:20:46.060 align:start position:0% intuition around this is basically if you<00:20:44.210> had<00:20:44.420> a<00:20:44.450> different<00:20:44.660> fee<00:20:44.960> all<00:20:45.710> it<00:20:45.950> would 00:20:46.060 --> 00:20:46.070 align:start position:0% you had a different fee all it would 00:20:46.070 --> 00:20:47.290 align:start position:0% you had a different fee all it would really<00:20:46.250> mean<00:20:46.550> is<00:20:46.730> like<00:20:46.850> you<00:20:46.970> may<00:20:47.060> be<00:20:47.120> almost 00:20:47.290 --> 00:20:47.300 align:start position:0% really mean is like you may be almost 00:20:47.300 --> 00:20:49.030 align:start position:0% really mean is like you may be almost like<00:20:47.420> a<00:20:47.510> different<00:20:47.930> would<00:20:48.380> it<00:20:48.410> be<00:20:48.590> level<00:20:48.890> where 00:20:49.030 --> 00:20:49.040 align:start position:0% like a different would it be level where 00:20:49.040 --> 00:20:52.090 align:start position:0% like a different would it be level where it<00:20:49.400> means<00:20:49.580> equilibrium<00:20:50.150> like<00:20:51.020> is<00:20:51.560> a<00:20:51.800> sort<00:20:52.010> of<00:20:52.040> a 00:20:52.090 --> 00:20:52.100 align:start position:0% it means equilibrium like is a sort of a 00:20:52.100 --> 00:20:53.470 align:start position:0% it means equilibrium like is a sort of a point<00:20:52.340> where<00:20:52.520> the<00:20:52.610> volume<00:20:52.820> it<00:20:53.210> like<00:20:53.360> the 00:20:53.470 --> 00:20:53.480 align:start position:0% point where the volume it like the 00:20:53.480 --> 00:20:55.450 align:start position:0% point where the volume it like the natural<00:20:54.050> volume<00:20:54.230> and<00:20:54.590> look<00:20:54.800> with<00:20:54.920> any<00:20:55.040> kind<00:20:55.340> of 00:20:55.450 --> 00:20:55.460 align:start position:0% natural volume and look with any kind of 00:20:55.460 --> 00:20:58.090 align:start position:0% natural volume and look with any kind of matches<00:20:56.090> up<00:20:56.210> you<00:20:56.720> can<00:20:56.960> I<00:20:57.410> think<00:20:57.650> that<00:20:57.890> that 00:20:58.090 --> 00:20:58.100 align:start position:0% matches up you can I think that that 00:20:58.100 --> 00:21:00.040 align:start position:0% matches up you can I think that that point<00:20:58.370> just<00:20:58.550> kind<00:20:58.580> of<00:20:58.760> changes<00:20:59.240> based<00:20:59.660> on<00:20:59.780> 50 00:21:00.040 --> 00:21:00.050 align:start position:0% point just kind of changes based on 50 00:21:00.050 --> 00:21:02.590 align:start position:0% point just kind of changes based on 50 level<00:21:00.380> but<00:21:00.830> for<00:21:00.980> certain<00:21:01.130> pairs<00:21:01.550> is<00:21:02.210> true<00:21:02.450> that 00:21:02.590 --> 00:21:02.600 align:start position:0% level but for certain pairs is true that 00:21:02.600 --> 00:21:03.940 align:start position:0% level but for certain pairs is true that like<00:21:02.780> you<00:21:02.990> know<00:21:03.080> if<00:21:03.170> you<00:21:03.290> can<00:21:03.410> have<00:21:03.500> a<00:21:03.560> specific 00:21:03.940 --> 00:21:03.950 align:start position:0% like you know if you can have a specific 00:21:03.950 --> 00:21:07.060 align:start position:0% like you know if you can have a specific pair<00:21:04.100> that's<00:21:04.280> really<00:21:04.640> really<00:21:05.710> 20<00:21:06.710> minutes<00:21:06.950> but 00:21:07.060 --> 00:21:07.070 align:start position:0% pair that's really really 20 minutes but 00:21:07.070 --> 00:21:08.500 align:start position:0% pair that's really really 20 minutes but basically<00:21:07.700> if<00:21:07.820> you<00:21:07.880> could<00:21:08.000> have<00:21:08.090> a<00:21:08.120> specific 00:21:08.500 --> 00:21:08.510 align:start position:0% basically if you could have a specific 00:21:08.510 --> 00:21:11.080 align:start position:0% basically if you could have a specific pair<00:21:08.690> that's<00:21:09.220> like<00:21:10.220> really<00:21:10.400> like<00:21:10.670> tightly 00:21:11.080 --> 00:21:11.090 align:start position:0% pair that's like really like tightly 00:21:11.090 --> 00:21:13.240 align:start position:0% pair that's like really like tightly like<00:21:11.450> a<00:21:11.690> very<00:21:12.050> very<00:21:12.140> tight<00:21:12.560> margins<00:21:13.010> on 00:21:13.240 --> 00:21:13.250 align:start position:0% like a very very tight margins on 00:21:13.250 --> 00:21:14.950 align:start position:0% like a very very tight margins on another<00:21:13.610> exchange<00:21:13.850> obviously<00:21:14.540> as<00:21:14.720> well 00:21:14.950 --> 00:21:14.960 align:start position:0% another exchange obviously as well 00:21:14.960 --> 00:21:26.420 align:start position:0% another exchange obviously as well becomes<00:21:15.560> less<00:21:15.800> efficient<00:21:16.190> for<00:21:16.310> that 00:21:26.420 --> 00:21:26.430 align:start position:0% 00:21:26.430 --> 00:21:28.830 align:start position:0% so<00:21:27.430> this<00:21:27.580> doesn't<00:21:27.910> use<00:21:28.030> meta<00:21:28.240> transactions 00:21:28.830 --> 00:21:28.840 align:start position:0% so this doesn't use meta transactions 00:21:28.840 --> 00:21:34.050 align:start position:0% so this doesn't use meta transactions actually<00:21:29.760> this<00:21:30.760> uses<00:21:31.180> a<00:21:31.330> unit<00:21:31.600> pic<00:21:31.750> uses<00:21:32.170> a<00:21:33.060> in 00:21:34.050 --> 00:21:34.060 align:start position:0% actually this uses a unit pic uses a in 00:21:34.060 --> 00:21:36.330 align:start position:0% actually this uses a unit pic uses a in browser<00:21:34.420> burn<00:21:34.630> our<00:21:34.750> wallet<00:21:35.080> which<00:21:35.950> is<00:21:36.100> nice 00:21:36.330 --> 00:21:36.340 align:start position:0% browser burn our wallet which is nice 00:21:36.340 --> 00:21:38.010 align:start position:0% browser burn our wallet which is nice looking<00:21:36.730> like<00:21:36.880> sign<00:21:37.090> for<00:21:37.420> your<00:21:37.510> private<00:21:37.810> keys 00:21:38.010 --> 00:21:38.020 align:start position:0% looking like sign for your private keys 00:21:38.020 --> 00:21:39.780 align:start position:0% looking like sign for your private keys it's<00:21:38.470> stored<00:21:38.680> in<00:21:38.740> your<00:21:38.890> in<00:21:39.190> your<00:21:39.220> local 00:21:39.780 --> 00:21:39.790 align:start position:0% it's stored in your in your local 00:21:39.790 --> 00:21:46.560 align:start position:0% it's stored in your in your local storage<00:21:40.090> on<00:21:40.300> here<00:21:43.200> so<00:21:44.340> really<00:21:45.340> so<00:21:45.820> that<00:21:45.970> the 00:21:46.560 --> 00:21:46.570 align:start position:0% storage on here so really so that the 00:21:46.570 --> 00:21:47.730 align:start position:0% storage on here so really so that the idea<00:21:46.810> when<00:21:47.050> I<00:21:47.110> said<00:21:47.260> native<00:21:47.530> minute 00:21:47.730 --> 00:21:47.740 align:start position:0% idea when I said native minute 00:21:47.740 --> 00:21:49.290 align:start position:0% idea when I said native minute transactions<00:21:48.310> what<00:21:48.490> I<00:21:48.520> really<00:21:48.910> mean<00:21:49.060> in<00:21:49.210> the 00:21:49.290 --> 00:21:49.300 align:start position:0% transactions what I really mean in the 00:21:49.300 --> 00:21:51.930 align:start position:0% transactions what I really mean in the native<00:21:49.540> account<00:21:49.840> abstraction<00:21:50.790> basically<00:21:51.790> the 00:21:51.930 --> 00:21:51.940 align:start position:0% native account abstraction basically the 00:21:51.940 --> 00:21:54.090 align:start position:0% native account abstraction basically the idea<00:21:52.240> is<00:21:52.300> in<00:21:52.660> Bitcoin<00:21:53.230> for<00:21:53.440> example<00:21:53.800> you<00:21:53.890> can 00:21:54.090 --> 00:21:54.100 align:start position:0% idea is in Bitcoin for example you can 00:21:54.100 --> 00:21:56.190 align:start position:0% idea is in Bitcoin for example you can you<00:21:54.610> can<00:21:54.730> sort<00:21:54.940> of<00:21:55.000> take<00:21:55.450> multiple<00:21:55.750> UFC<00:21:56.110> of 00:21:56.190 --> 00:21:56.200 align:start position:0% you can sort of take multiple UFC of 00:21:56.200 --> 00:21:58.050 align:start position:0% you can sort of take multiple UFC of those<00:21:56.350> and<00:21:56.560> you<00:21:56.620> can<00:21:56.770> kind<00:21:56.950> of<00:21:57.010> send<00:21:57.490> them<00:21:57.640> like 00:21:58.050 --> 00:21:58.060 align:start position:0% those and you can kind of send them like 00:21:58.060 --> 00:21:59.400 align:start position:0% those and you can kind of send them like you<00:21:58.150> can<00:21:58.240> basically<00:21:58.360> paralyzed<00:21:58.930> their<00:21:59.260> like 00:21:59.400 --> 00:21:59.410 align:start position:0% you can basically paralyzed their like 00:21:59.410 --> 00:22:01.200 align:start position:0% you can basically paralyzed their like say<00:21:59.770> these<00:21:59.950> three<00:22:00.250> transactions<00:22:00.820> all<00:22:00.970> need<00:22:01.150> to 00:22:01.200 --> 00:22:01.210 align:start position:0% say these three transactions all need to 00:22:01.210 --> 00:22:03.420 align:start position:0% say these three transactions all need to have<00:22:01.330> been<00:22:01.510> synchronously<00:22:01.980> in<00:22:02.980> unis<00:22:03.250> Bob 00:22:03.420 --> 00:22:03.430 align:start position:0% have been synchronously in unis Bob 00:22:03.430 --> 00:22:06.990 align:start position:0% have been synchronously in unis Bob Brennaman<00:22:03.880> on<00:22:04.390> ethereum<00:22:04.690> you<00:22:05.620> have<00:22:05.800> to<00:22:06.760> do<00:22:06.880> it 00:22:06.990 --> 00:22:07.000 align:start position:0% Brennaman on ethereum you have to do it 00:22:07.000 --> 00:22:08.250 align:start position:0% Brennaman on ethereum you have to do it like<00:22:07.330> so<00:22:07.510> it<00:22:07.570> makes<00:22:07.720> it<00:22:07.780> a<00:22:07.870> little<00:22:07.990> bit<00:22:08.140> more 00:22:08.250 --> 00:22:08.260 align:start position:0% like so it makes it a little bit more 00:22:08.260 --> 00:22:09.990 align:start position:0% like so it makes it a little bit more complicated<00:22:08.590> to<00:22:09.040> kind<00:22:09.250> of<00:22:09.310> queue<00:22:09.820> up<00:22:09.970> for 00:22:09.990 --> 00:22:10.000 align:start position:0% complicated to kind of queue up for 00:22:10.000 --> 00:22:11.310 align:start position:0% complicated to kind of queue up for example<00:22:10.480> if<00:22:10.540> you<00:22:10.630> want<00:22:10.780> to<00:22:10.840> do<00:22:10.900> and<00:22:11.020> approve 00:22:11.310 --> 00:22:11.320 align:start position:0% example if you want to do and approve 00:22:11.320 --> 00:22:12.990 align:start position:0% example if you want to do and approve and<00:22:11.590> then<00:22:11.710> I<00:22:11.800> trend<00:22:12.430> action<00:22:12.700> that<00:22:12.790> you<00:22:12.880> could 00:22:12.990 --> 00:22:13.000 align:start position:0% and then I trend action that you could 00:22:13.000 --> 00:22:15.180 align:start position:0% and then I trend action that you could transfer<00:22:13.240> from<00:22:13.450> you<00:22:14.080> can't<00:22:14.350> naturally<00:22:14.950> queue 00:22:15.180 --> 00:22:15.190 align:start position:0% transfer from you can't naturally queue 00:22:15.190 --> 00:22:18.470 align:start position:0% transfer from you can't naturally queue them<00:22:15.340> up<00:22:15.430> correctly<00:22:15.700> from<00:22:16.030> your<00:22:16.240> wallet<00:22:17.340> but 00:22:18.470 --> 00:22:18.480 align:start position:0% them up correctly from your wallet but 00:22:18.480 --> 00:22:20.460 align:start position:0% them up correctly from your wallet but something<00:22:19.480> like<00:22:19.570> optimistic<00:22:20.080> roll-up<00:22:20.320> would 00:22:20.460 --> 00:22:20.470 align:start position:0% something like optimistic roll-up would 00:22:20.470 --> 00:22:22.440 align:start position:0% something like optimistic roll-up would essentially<00:22:20.860> allow<00:22:21.160> you<00:22:21.220> to<00:22:21.550> queue<00:22:22.420> up 00:22:22.440 --> 00:22:22.450 align:start position:0% essentially allow you to queue up 00:22:22.450 --> 00:22:25.920 align:start position:0% essentially allow you to queue up transactions<00:22:23.200> so<00:22:23.770> that<00:22:23.890> you<00:22:23.980> can<00:22:24.160> yeah<00:22:24.930> yeah 00:22:25.920 --> 00:22:25.930 align:start position:0% transactions so that you can yeah yeah 00:22:25.930 --> 00:22:26.820 align:start position:0% transactions so that you can yeah yeah alright<00:22:26.410> I<00:22:26.530> think<00:22:26.560> that 00:22:26.820 --> 00:22:26.830 align:start position:0% alright I think that 00:22:26.830 --> 00:22:31.600 align:start position:0% alright I think that [Music] 00:22:31.600 --> 00:22:31.610 align:start position:0% 00:22:31.610 --> 00:22:37.990 align:start position:0% [Applause]