WEBVTT Kind: captions Language: en 00:00:00.000 --> 00:00:04.350 align:start position:0% foreign 00:00:04.350 --> 00:00:04.360 align:start position:0% 00:00:04.360 --> 00:00:14.289 align:start position:0% [Music] 00:00:14.289 --> 00:00:14.299 align:start position:0% 00:00:14.299 --> 00:00:17.090 align:start position:0% and<00:00:15.299> this<00:00:15.719> tokos<00:00:16.260> original<00:00:16.440> is<00:00:16.740> supposed<00:00:16.920> to 00:00:17.090 --> 00:00:17.100 align:start position:0% and this tokos original is supposed to 00:00:17.100 --> 00:00:19.670 align:start position:0% and this tokos original is supposed to be<00:00:17.220> held<00:00:17.520> by<00:00:17.699> our<00:00:18.060> CEO<00:00:18.480> but<00:00:18.960> he<00:00:19.140> decided<00:00:19.560> to 00:00:19.670 --> 00:00:19.680 align:start position:0% be held by our CEO but he decided to 00:00:19.680 --> 00:00:21.769 align:start position:0% be held by our CEO but he decided to escape<00:00:19.800> through<00:00:20.160> this<00:00:20.340> burden<00:00:20.640> is<00:00:20.820> up<00:00:21.000> to<00:00:21.180> me 00:00:21.769 --> 00:00:21.779 align:start position:0% escape through this burden is up to me 00:00:21.779 --> 00:00:25.490 align:start position:0% escape through this burden is up to me and<00:00:22.500> I<00:00:23.039> will<00:00:23.220> talk<00:00:23.400> how<00:00:23.699> D5<00:00:24.600> is<00:00:24.840> missing<00:00:25.140> a<00:00:25.320> key 00:00:25.490 --> 00:00:25.500 align:start position:0% and I will talk how D5 is missing a key 00:00:25.500 --> 00:00:28.189 align:start position:0% and I will talk how D5 is missing a key primitive<00:00:25.920> which<00:00:26.100> is<00:00:26.220> privacy<00:00:26.699> and<00:00:27.420> how<00:00:27.599> Aztec 00:00:28.189 --> 00:00:28.199 align:start position:0% primitive which is privacy and how Aztec 00:00:28.199 --> 00:00:31.910 align:start position:0% primitive which is privacy and how Aztec connect<00:00:28.439> fixes<00:00:29.400> it<00:00:29.580> fixes<00:00:30.119> it 00:00:31.910 --> 00:00:31.920 align:start position:0% connect fixes it fixes it 00:00:31.920 --> 00:00:34.250 align:start position:0% connect fixes it fixes it so<00:00:32.700> many<00:00:32.940> of<00:00:33.120> you<00:00:33.239> probably<00:00:33.480> remember<00:00:33.899> that 00:00:34.250 --> 00:00:34.260 align:start position:0% so many of you probably remember that 00:00:34.260 --> 00:00:36.170 align:start position:0% so many of you probably remember that last<00:00:34.559> year<00:00:34.680> there<00:00:34.980> was<00:00:35.100> this<00:00:35.280> GameStop<00:00:35.460> Saga 00:00:36.170 --> 00:00:36.180 align:start position:0% last year there was this GameStop Saga 00:00:36.180 --> 00:00:38.530 align:start position:0% last year there was this GameStop Saga and<00:00:36.899> basically<00:00:37.260> what<00:00:37.440> has<00:00:37.680> happened 00:00:38.530 --> 00:00:38.540 align:start position:0% and basically what has happened 00:00:38.540 --> 00:00:42.049 align:start position:0% and basically what has happened is<00:00:39.540> that<00:00:39.899> this<00:00:40.739> information<00:00:40.980> about<00:00:41.520> The<00:00:41.820> Big 00:00:42.049 --> 00:00:42.059 align:start position:0% is that this information about The Big 00:00:42.059 --> 00:00:44.150 align:start position:0% is that this information about The Big Short<00:00:42.239> position<00:00:42.600> of<00:00:43.020> one<00:00:43.200> hedge<00:00:43.559> fund<00:00:43.800> leaked 00:00:44.150 --> 00:00:44.160 align:start position:0% Short position of one hedge fund leaked 00:00:44.160 --> 00:00:46.729 align:start position:0% Short position of one hedge fund leaked and<00:00:45.059> then<00:00:45.540> since<00:00:45.780> internet<00:00:46.079> is<00:00:46.440> kind<00:00:46.620> of 00:00:46.729 --> 00:00:46.739 align:start position:0% and then since internet is kind of 00:00:46.739 --> 00:00:48.830 align:start position:0% and then since internet is kind of random<00:00:47.100> like<00:00:47.640> people<00:00:47.879> decided<00:00:48.420> that<00:00:48.539> it<00:00:48.660> would 00:00:48.830 --> 00:00:48.840 align:start position:0% random like people decided that it would 00:00:48.840 --> 00:00:52.430 align:start position:0% random like people decided that it would be<00:00:49.020> fun<00:00:49.320> to<00:00:49.800> just<00:00:50.760> ape<00:00:51.300> into<00:00:51.539> the<00:00:51.840> stock<00:00:52.020> and 00:00:52.430 --> 00:00:52.440 align:start position:0% be fun to just ape into the stock and 00:00:52.440 --> 00:00:54.410 align:start position:0% be fun to just ape into the stock and pump<00:00:52.620> the<00:00:52.920> price<00:00:53.160> and<00:00:53.820> the<00:00:53.940> fund<00:00:54.300> got 00:00:54.410 --> 00:00:54.420 align:start position:0% pump the price and the fund got 00:00:54.420 --> 00:00:56.150 align:start position:0% pump the price and the fund got liquidated 00:00:56.150 --> 00:00:56.160 align:start position:0% liquidated 00:00:56.160 --> 00:00:57.770 align:start position:0% liquidated and<00:00:56.579> this<00:00:56.699> was<00:00:56.879> caused<00:00:57.180> by<00:00:57.239> the<00:00:57.420> fact<00:00:57.600> that 00:00:57.770 --> 00:00:57.780 align:start position:0% and this was caused by the fact that 00:00:57.780 --> 00:01:01.189 align:start position:0% and this was caused by the fact that like<00:00:57.960> the<00:00:58.140> information<00:00:58.320> leaked 00:01:01.189 --> 00:01:01.199 align:start position:0% 00:01:01.199 --> 00:01:03.529 align:start position:0% and<00:01:01.680> so<00:01:01.800> the<00:01:02.039> situation<00:01:02.399> in<00:01:02.579> web<00:01:02.760> 3<00:01:03.000> is<00:01:03.300> even 00:01:03.529 --> 00:01:03.539 align:start position:0% and so the situation in web 3 is even 00:01:03.539 --> 00:01:05.570 align:start position:0% and so the situation in web 3 is even worse<00:01:04.320> like 00:01:05.570 --> 00:01:05.580 align:start position:0% worse like 00:01:05.580 --> 00:01:08.270 align:start position:0% worse like basically<00:01:06.360> anyone<00:01:06.900> who<00:01:07.320> is<00:01:07.560> able<00:01:07.799> to<00:01:07.920> use<00:01:08.040> a 00:01:08.270 --> 00:01:08.280 align:start position:0% basically anyone who is able to use a 00:01:08.280 --> 00:01:09.710 align:start position:0% basically anyone who is able to use a web<00:01:08.400> browser<00:01:08.880> and 00:01:09.710 --> 00:01:09.720 align:start position:0% web browser and 00:01:09.720 --> 00:01:12.170 align:start position:0% web browser and can<00:01:10.439> go<00:01:10.799> to<00:01:10.979> Ether<00:01:11.340> scan<00:01:11.640> and<00:01:11.820> search<00:01:11.939> like 00:01:12.170 --> 00:01:12.180 align:start position:0% can go to Ether scan and search like 00:01:12.180 --> 00:01:13.789 align:start position:0% can go to Ether scan and search like what<00:01:12.420> anyone<00:01:12.780> is<00:01:12.960> doing 00:01:13.789 --> 00:01:13.799 align:start position:0% what anyone is doing 00:01:13.799 --> 00:01:16.130 align:start position:0% what anyone is doing and<00:01:14.400> this<00:01:14.520> is<00:01:14.700> made<00:01:14.880> even<00:01:15.119> worse<00:01:15.420> by<00:01:15.720> people's 00:01:16.130 --> 00:01:16.140 align:start position:0% and this is made even worse by people's 00:01:16.140 --> 00:01:18.109 align:start position:0% and this is made even worse by people's views<00:01:16.320> of<00:01:16.560> ens<00:01:16.979> so<00:01:17.340> we<00:01:17.640> can<00:01:17.760> see<00:01:17.939> quite 00:01:18.109 --> 00:01:18.119 align:start position:0% views of ens so we can see quite 00:01:18.119 --> 00:01:19.850 align:start position:0% views of ens so we can see quite commonly<00:01:18.479> that<00:01:18.720> people<00:01:18.840> use<00:01:19.080> their<00:01:19.260> ens<00:01:19.619> names 00:01:19.850 --> 00:01:19.860 align:start position:0% commonly that people use their ens names 00:01:19.860 --> 00:01:21.710 align:start position:0% commonly that people use their ens names with<00:01:20.100> trading<00:01:20.520> because<00:01:21.060> they<00:01:21.360> apparently 00:01:21.710 --> 00:01:21.720 align:start position:0% with trading because they apparently 00:01:21.720 --> 00:01:24.050 align:start position:0% with trading because they apparently have<00:01:21.900> no<00:01:22.080> idea<00:01:22.259> that<00:01:22.439> is<00:01:22.560> not<00:01:22.740> private 00:01:24.050 --> 00:01:24.060 align:start position:0% have no idea that is not private 00:01:24.060 --> 00:01:25.969 align:start position:0% have no idea that is not private and<00:01:24.540> to<00:01:24.659> drive<00:01:24.900> this<00:01:25.200> point<00:01:25.380> home<00:01:25.680> like 00:01:25.969 --> 00:01:25.979 align:start position:0% and to drive this point home like 00:01:25.979 --> 00:01:28.550 align:start position:0% and to drive this point home like basically<00:01:26.520> there<00:01:26.820> is<00:01:26.939> this<00:01:27.180> ensname<00:01:27.960> docs.if 00:01:28.550 --> 00:01:28.560 align:start position:0% basically there is this ensname docs.if 00:01:28.560 --> 00:01:31.609 align:start position:0% basically there is this ensname docs.if and<00:01:29.040> if<00:01:29.939> I<00:01:30.119> want<00:01:30.360> to<00:01:30.479> spend<00:01:30.720> some<00:01:30.900> time<00:01:31.080> on<00:01:31.259> it<00:01:31.380> I 00:01:31.609 --> 00:01:31.619 align:start position:0% and if I want to spend some time on it I 00:01:31.619 --> 00:01:35.030 align:start position:0% and if I want to spend some time on it I can<00:01:31.740> just<00:01:31.979> like<00:01:32.220> basically<00:01:32.759> figure<00:01:33.479> out 00:01:35.030 --> 00:01:35.040 align:start position:0% can just like basically figure out 00:01:35.040 --> 00:01:37.789 align:start position:0% can just like basically figure out that<00:01:35.759> the<00:01:35.939> user<00:01:36.240> has<00:01:36.479> units<00:01:36.960> web<00:01:37.079> position<00:01:37.320> I 00:01:37.789 --> 00:01:37.799 align:start position:0% that the user has units web position I 00:01:37.799 --> 00:01:40.010 align:start position:0% that the user has units web position I have<00:01:37.920> a<00:01:38.040> position<00:01:38.159> and<00:01:38.700> how<00:01:39.000> amount<00:01:39.420> of<00:01:39.540> USD 00:01:40.010 --> 00:01:40.020 align:start position:0% have a position and how amount of USD 00:01:40.020 --> 00:01:42.050 align:start position:0% have a position and how amount of USD available<00:01:40.200> for<00:01:40.560> collateral 00:01:42.050 --> 00:01:42.060 align:start position:0% available for collateral 00:01:42.060 --> 00:01:43.850 align:start position:0% available for collateral and<00:01:42.479> you<00:01:42.600> might<00:01:42.780> be<00:01:42.900> asking<00:01:43.140> why<00:01:43.259> this<00:01:43.500> is<00:01:43.619> bad 00:01:43.850 --> 00:01:43.860 align:start position:0% and you might be asking why this is bad 00:01:43.860 --> 00:01:45.649 align:start position:0% and you might be asking why this is bad because<00:01:44.100> like<00:01:44.460> plenty<00:01:45.000> of<00:01:45.060> the<00:01:45.240> times<00:01:45.420> it's 00:01:45.649 --> 00:01:45.659 align:start position:0% because like plenty of the times it's 00:01:45.659 --> 00:01:47.450 align:start position:0% because like plenty of the times it's considered<00:01:46.200> the<00:01:46.320> transparency<00:01:46.920> is<00:01:47.159> like<00:01:47.280> a 00:01:47.450 --> 00:01:47.460 align:start position:0% considered the transparency is like a 00:01:47.460 --> 00:01:49.910 align:start position:0% considered the transparency is like a nice<00:01:47.579> feature<00:01:48.060> but<00:01:49.020> when<00:01:49.500> we<00:01:49.619> are<00:01:49.740> talking 00:01:49.910 --> 00:01:49.920 align:start position:0% nice feature but when we are talking 00:01:49.920 --> 00:01:51.889 align:start position:0% nice feature but when we are talking about<00:01:50.159> financial<00:01:50.579> information<00:01:51.119> it<00:01:51.600> can<00:01:51.840> be 00:01:51.889 --> 00:01:51.899 align:start position:0% about financial information it can be 00:01:51.899 --> 00:01:53.810 align:start position:0% about financial information it can be bad<00:01:52.079> because<00:01:52.380> like<00:01:52.920> it<00:01:53.220> allows<00:01:53.579> basically 00:01:53.810 --> 00:01:53.820 align:start position:0% bad because like it allows basically 00:01:53.820 --> 00:01:58.130 align:start position:0% bad because like it allows basically anyone<00:01:54.360> to<00:01:55.200> assess<00:01:55.759> solvency<00:01:56.759> of<00:01:57.180> any<00:01:57.720> entity 00:01:58.130 --> 00:01:58.140 align:start position:0% anyone to assess solvency of any entity 00:01:58.140 --> 00:02:00.889 align:start position:0% anyone to assess solvency of any entity on<00:01:58.439> ethereum<00:01:58.860> and<00:01:59.579> this<00:01:59.820> information<00:02:00.180> can<00:02:00.720> be 00:02:00.889 --> 00:02:00.899 align:start position:0% on ethereum and this information can be 00:02:00.899 --> 00:02:03.770 align:start position:0% on ethereum and this information can be used<00:02:01.079> by<00:02:01.700> adversarial<00:02:02.700> parties<00:02:03.060> like<00:02:03.299> Mev 00:02:03.770 --> 00:02:03.780 align:start position:0% used by adversarial parties like Mev 00:02:03.780 --> 00:02:04.910 align:start position:0% used by adversarial parties like Mev Bots 00:02:04.910 --> 00:02:04.920 align:start position:0% Bots 00:02:04.920 --> 00:02:07.370 align:start position:0% Bots and<00:02:05.579> then<00:02:05.820> there<00:02:06.000> is<00:02:06.180> also<00:02:06.420> of<00:02:06.600> course<00:02:06.719> a<00:02:07.020> risk 00:02:07.370 --> 00:02:07.380 align:start position:0% and then there is also of course a risk 00:02:07.380 --> 00:02:09.469 align:start position:0% and then there is also of course a risk of<00:02:07.619> doxing<00:02:08.399> and<00:02:08.640> consequences<00:02:09.060> in<00:02:09.300> the 00:02:09.469 --> 00:02:09.479 align:start position:0% of doxing and consequences in the 00:02:09.479 --> 00:02:11.510 align:start position:0% of doxing and consequences in the physical<00:02:09.599> world<00:02:09.959> this<00:02:10.619> can<00:02:10.800> be<00:02:10.860> as<00:02:11.039> innocent 00:02:11.510 --> 00:02:11.520 align:start position:0% physical world this can be as innocent 00:02:11.520 --> 00:02:13.070 align:start position:0% physical world this can be as innocent as<00:02:11.760> your<00:02:12.000> friends 00:02:13.070 --> 00:02:13.080 align:start position:0% as your friends 00:02:13.080 --> 00:02:15.710 align:start position:0% as your friends shaming<00:02:13.860> you<00:02:13.980> for<00:02:14.220> your<00:02:14.340> bad<00:02:14.520> trades<00:02:15.060> but<00:02:15.300> it 00:02:15.710 --> 00:02:15.720 align:start position:0% shaming you for your bad trades but it 00:02:15.720 --> 00:02:18.710 align:start position:0% shaming you for your bad trades but it can<00:02:15.840> also<00:02:16.080> make<00:02:16.260> you<00:02:16.379> a<00:02:16.560> target<00:02:16.680> of<00:02:16.980> crime 00:02:18.710 --> 00:02:18.720 align:start position:0% can also make you a target of crime 00:02:18.720 --> 00:02:21.290 align:start position:0% can also make you a target of crime so<00:02:19.200> the<00:02:19.440> solution<00:02:19.800> at<00:02:20.400> Aztec<00:02:20.819> we<00:02:20.940> think<00:02:21.120> that 00:02:21.290 --> 00:02:21.300 align:start position:0% so the solution at Aztec we think that 00:02:21.300 --> 00:02:23.270 align:start position:0% so the solution at Aztec we think that the<00:02:21.480> solution<00:02:21.840> are<00:02:22.260> privacy<00:02:22.739> preserving 00:02:23.270 --> 00:02:23.280 align:start position:0% the solution are privacy preserving 00:02:23.280 --> 00:02:24.650 align:start position:0% the solution are privacy preserving roll-ups 00:02:24.650 --> 00:02:24.660 align:start position:0% roll-ups 00:02:24.660 --> 00:02:27.290 align:start position:0% roll-ups and<00:02:25.379> our<00:02:25.860> privacy<00:02:26.280> preserving<00:02:26.760> group<00:02:26.940> is 00:02:27.290 --> 00:02:27.300 align:start position:0% and our privacy preserving group is 00:02:27.300 --> 00:02:29.390 align:start position:0% and our privacy preserving group is called<00:02:27.420> Aztec<00:02:27.959> connect<00:02:28.080> it<00:02:28.860> is<00:02:28.980> live<00:02:29.099> on 00:02:29.390 --> 00:02:29.400 align:start position:0% called Aztec connect it is live on 00:02:29.400 --> 00:02:30.410 align:start position:0% called Aztec connect it is live on mainnet 00:02:30.410 --> 00:02:30.420 align:start position:0% mainnet 00:02:30.420 --> 00:02:32.750 align:start position:0% mainnet and<00:02:30.900> we<00:02:31.020> like<00:02:31.200> to<00:02:31.379> call<00:02:31.500> it<00:02:31.620> VPN<00:02:32.040> for<00:02:32.220> ethereum 00:02:32.750 --> 00:02:32.760 align:start position:0% and we like to call it VPN for ethereum 00:02:32.760 --> 00:02:34.729 align:start position:0% and we like to call it VPN for ethereum and<00:02:33.180> I<00:02:33.360> think<00:02:33.480> this<00:02:33.660> is<00:02:33.780> quite<00:02:33.959> a<00:02:34.140> nice<00:02:34.260> mental 00:02:34.729 --> 00:02:34.739 align:start position:0% and I think this is quite a nice mental 00:02:34.739 --> 00:02:37.430 align:start position:0% and I think this is quite a nice mental model<00:02:34.860> because<00:02:35.700> essentially<00:02:36.300> what<00:02:36.660> VPN<00:02:37.260> is 00:02:37.430 --> 00:02:37.440 align:start position:0% model because essentially what VPN is 00:02:37.440 --> 00:02:39.589 align:start position:0% model because essentially what VPN is doing<00:02:37.620> in<00:02:37.860> the<00:02:38.040> webto<00:02:38.340> world<00:02:38.580> is<00:02:38.940> that<00:02:39.239> it 00:02:39.589 --> 00:02:39.599 align:start position:0% doing in the webto world is that it 00:02:39.599 --> 00:02:41.869 align:start position:0% doing in the webto world is that it replaces<00:02:40.080> your<00:02:40.260> IP<00:02:40.620> address<00:02:40.800> with<00:02:41.519> the<00:02:41.640> IP 00:02:41.869 --> 00:02:41.879 align:start position:0% replaces your IP address with the IP 00:02:41.879 --> 00:02:44.449 align:start position:0% replaces your IP address with the IP address<00:02:42.120> of<00:02:42.360> the<00:02:42.480> VPN<00:02:42.840> provider<00:02:43.860> and 00:02:44.449 --> 00:02:44.459 align:start position:0% address of the VPN provider and 00:02:44.459 --> 00:02:45.949 align:start position:0% address of the VPN provider and essentially<00:02:44.760> what<00:02:45.000> we<00:02:45.180> do<00:02:45.360> is<00:02:45.540> that<00:02:45.840> we 00:02:45.949 --> 00:02:45.959 align:start position:0% essentially what we do is that we 00:02:45.959 --> 00:02:48.470 align:start position:0% essentially what we do is that we replace<00:02:46.319> your<00:02:46.800> ethereum<00:02:47.220> address<00:02:47.519> with<00:02:48.060> if 00:02:48.470 --> 00:02:48.480 align:start position:0% replace your ethereum address with if 00:02:48.480 --> 00:02:53.030 align:start position:0% replace your ethereum address with if ethereum<00:02:49.200> address<00:02:49.440> of<00:02:49.739> Aztec 00:02:53.030 --> 00:02:53.040 align:start position:0% 00:02:53.040 --> 00:02:56.030 align:start position:0% so<00:02:53.640> I<00:02:53.940> wanted<00:02:54.060> to<00:02:54.300> show<00:02:54.540> some<00:02:54.780> demo<00:02:55.200> but<00:02:55.739> of 00:02:56.030 --> 00:02:56.040 align:start position:0% so I wanted to show some demo but of 00:02:56.040 --> 00:02:58.009 align:start position:0% so I wanted to show some demo but of course<00:02:56.160> it's<00:02:56.459> not<00:02:56.700> very<00:02:57.060> possible<00:02:57.420> here<00:02:57.660> so<00:02:57.900> I 00:02:58.009 --> 00:02:58.019 align:start position:0% course it's not very possible here so I 00:02:58.019 --> 00:02:59.930 align:start position:0% course it's not very possible here so I will<00:02:58.200> just<00:02:58.379> show<00:02:58.680> some<00:02:58.920> screenshot 00:02:59.930 --> 00:02:59.940 align:start position:0% will just show some screenshot 00:02:59.940 --> 00:03:01.970 align:start position:0% will just show some screenshot so<00:03:00.300> this<00:03:00.480> is<00:03:00.540> our<00:03:00.720> website<00:03:00.959> ZK<00:03:01.319> money<00:03:01.560> and<00:03:01.860> when 00:03:01.970 --> 00:03:01.980 align:start position:0% so this is our website ZK money and when 00:03:01.980 --> 00:03:04.309 align:start position:0% so this is our website ZK money and when you<00:03:02.160> come<00:03:02.280> there<00:03:02.459> you<00:03:02.640> can<00:03:02.760> click<00:03:03.000> Shield 00:03:04.309 --> 00:03:04.319 align:start position:0% you come there you can click Shield 00:03:04.319 --> 00:03:06.770 align:start position:0% you come there you can click Shield and<00:03:04.920> then<00:03:05.099> you<00:03:05.340> can<00:03:05.459> choose<00:03:05.640> an<00:03:05.940> alias<00:03:06.420> this<00:03:06.660> is 00:03:06.770 --> 00:03:06.780 align:start position:0% and then you can choose an alias this is 00:03:06.780 --> 00:03:09.290 align:start position:0% and then you can choose an alias this is like<00:03:07.019> an<00:03:07.440> analogy<00:03:08.220> to 00:03:09.290 --> 00:03:09.300 align:start position:0% like an analogy to 00:03:09.300 --> 00:03:13.130 align:start position:0% like an analogy to ens<00:03:10.019> name<00:03:10.319> on<00:03:10.800> ethereum<00:03:11.340> mainnet 00:03:13.130 --> 00:03:13.140 align:start position:0% ens name on ethereum mainnet 00:03:13.140 --> 00:03:14.930 align:start position:0% ens name on ethereum mainnet then<00:03:13.680> we<00:03:13.860> will<00:03:14.040> create<00:03:14.220> your<00:03:14.459> account<00:03:14.640> this 00:03:14.930 --> 00:03:14.940 align:start position:0% then we will create your account this 00:03:14.940 --> 00:03:16.490 align:start position:0% then we will create your account this will<00:03:15.120> take<00:03:15.360> a<00:03:15.480> while<00:03:15.599> because<00:03:15.840> there<00:03:16.140> are<00:03:16.319> some 00:03:16.490 --> 00:03:16.500 align:start position:0% will take a while because there are some 00:03:16.500 --> 00:03:18.229 align:start position:0% will take a while because there are some complex<00:03:16.800> computation<00:03:17.340> happening<00:03:17.760> behind<00:03:18.120> the 00:03:18.229 --> 00:03:18.239 align:start position:0% complex computation happening behind the 00:03:18.239 --> 00:03:19.250 align:start position:0% complex computation happening behind the scene 00:03:19.250 --> 00:03:19.260 align:start position:0% scene 00:03:19.260 --> 00:03:21.470 align:start position:0% scene and<00:03:20.040> then<00:03:20.220> you<00:03:20.400> deposit<00:03:20.819> the<00:03:20.940> amounts<00:03:21.360> of 00:03:21.470 --> 00:03:21.480 align:start position:0% and then you deposit the amounts of 00:03:21.480 --> 00:03:22.610 align:start position:0% and then you deposit the amounts of funds 00:03:22.610 --> 00:03:22.620 align:start position:0% funds 00:03:22.620 --> 00:03:24.649 align:start position:0% funds and<00:03:23.220> behind<00:03:23.580> the<00:03:23.819> scene<00:03:24.120> that<00:03:24.480> actually 00:03:24.649 --> 00:03:24.659 align:start position:0% and behind the scene that actually 00:03:24.659 --> 00:03:26.690 align:start position:0% and behind the scene that actually happened<00:03:24.900> quite<00:03:25.319> a<00:03:25.440> few<00:03:25.560> things<00:03:25.860> that 00:03:26.690 --> 00:03:26.700 align:start position:0% happened quite a few things that 00:03:26.700 --> 00:03:28.490 align:start position:0% happened quite a few things that happened<00:03:26.940> two<00:03:27.300> transactions<00:03:27.840> on<00:03:28.019> ethereum 00:03:28.490 --> 00:03:28.500 align:start position:0% happened two transactions on ethereum 00:03:28.500 --> 00:03:30.410 align:start position:0% happened two transactions on ethereum one<00:03:28.920> deposits<00:03:29.459> the<00:03:29.580> funds<00:03:29.879> into<00:03:30.060> a<00:03:30.300> royal 00:03:30.410 --> 00:03:30.420 align:start position:0% one deposits the funds into a royal 00:03:30.420 --> 00:03:32.990 align:start position:0% one deposits the funds into a royal processor<00:03:30.900> contract<00:03:31.260> another<00:03:31.980> approved<00:03:32.760> this 00:03:32.990 --> 00:03:33.000 align:start position:0% processor contract another approved this 00:03:33.000 --> 00:03:36.350 align:start position:0% processor contract another approved this approves<00:03:33.599> this<00:03:33.840> hash<00:03:34.580> and<00:03:35.580> then<00:03:36.000> there<00:03:36.239> is 00:03:36.350 --> 00:03:36.360 align:start position:0% approves this hash and then there is 00:03:36.360 --> 00:03:38.210 align:start position:0% approves this hash and then there is like<00:03:36.599> a<00:03:36.720> generation<00:03:37.080> of<00:03:37.379> cryptographic<00:03:38.040> note 00:03:38.210 --> 00:03:38.220 align:start position:0% like a generation of cryptographic note 00:03:38.220 --> 00:03:42.410 align:start position:0% like a generation of cryptographic note on<00:03:38.459> L2<00:03:38.879> and<00:03:39.720> this<00:03:40.640> cryptographic<00:03:41.640> node<00:03:42.000> allows 00:03:42.410 --> 00:03:42.420 align:start position:0% on L2 and this cryptographic node allows 00:03:42.420 --> 00:03:47.570 align:start position:0% on L2 and this cryptographic node allows you<00:03:42.480> to<00:03:42.659> spend<00:03:42.959> those<00:03:43.260> funds 00:03:47.570 --> 00:03:47.580 align:start position:0% 00:03:47.580 --> 00:03:49.309 align:start position:0% so<00:03:48.060> once<00:03:48.299> you<00:03:48.420> deposit<00:03:48.780> this<00:03:48.959> is<00:03:49.080> what<00:03:49.200> it 00:03:49.309 --> 00:03:49.319 align:start position:0% so once you deposit this is what it 00:03:49.319 --> 00:03:51.649 align:start position:0% so once you deposit this is what it looks<00:03:49.560> like<00:03:49.680> it's<00:03:49.860> like<00:03:50.040> a<00:03:50.159> normal<00:03:50.280> wallet 00:03:51.649 --> 00:03:51.659 align:start position:0% looks like it's like a normal wallet 00:03:51.659 --> 00:03:54.770 align:start position:0% looks like it's like a normal wallet and<00:03:52.319> then<00:03:52.500> there<00:03:52.680> are<00:03:52.799> opportunities<00:03:53.400> so<00:03:54.360> you 00:03:54.770 --> 00:03:54.780 align:start position:0% and then there are opportunities so you 00:03:54.780 --> 00:03:56.630 align:start position:0% and then there are opportunities so you can<00:03:54.840> deposit<00:03:55.319> into<00:03:55.500> an<00:03:55.799> arbitrary<00:03:56.280> Bridge 00:03:56.630 --> 00:03:56.640 align:start position:0% can deposit into an arbitrary Bridge 00:03:56.640 --> 00:03:58.610 align:start position:0% can deposit into an arbitrary Bridge we've<00:03:57.239> implemented 00:03:58.610 --> 00:03:58.620 align:start position:0% we've implemented 00:03:58.620 --> 00:04:00.949 align:start position:0% we've implemented so<00:03:59.040> for<00:03:59.159> example<00:03:59.400> if<00:03:59.580> I<00:03:59.760> deposit<00:04:00.120> to<00:04:00.180> Euler<00:04:00.599> I 00:04:00.949 --> 00:04:00.959 align:start position:0% so for example if I deposit to Euler I 00:04:00.959 --> 00:04:04.190 align:start position:0% so for example if I deposit to Euler I have<00:04:01.260> this<00:04:01.920> screen<00:04:02.420> and<00:04:03.420> there<00:04:03.720> are<00:04:03.900> quite<00:04:04.019> a 00:04:04.190 --> 00:04:04.200 align:start position:0% have this screen and there are quite a 00:04:04.200 --> 00:04:05.869 align:start position:0% have this screen and there are quite a few<00:04:04.319> interesting<00:04:04.860> things<00:04:05.099> here<00:04:05.340> which<00:04:05.580> I<00:04:05.760> want 00:04:05.869 --> 00:04:05.879 align:start position:0% few interesting things here which I want 00:04:05.879 --> 00:04:09.050 align:start position:0% few interesting things here which I want to<00:04:05.940> explain<00:04:06.120> first<00:04:07.080> one<00:04:07.379> is<00:04:07.620> a<00:04:08.040> batch 00:04:09.050 --> 00:04:09.060 align:start position:0% to explain first one is a batch 00:04:09.060 --> 00:04:11.570 align:start position:0% to explain first one is a batch so<00:04:09.659> there<00:04:10.319> is<00:04:10.500> quite<00:04:10.680> an<00:04:10.860> interesting<00:04:11.159> feature 00:04:11.570 --> 00:04:11.580 align:start position:0% so there is quite an interesting feature 00:04:11.580 --> 00:04:13.789 align:start position:0% so there is quite an interesting feature to<00:04:11.760> us<00:04:11.879> the<00:04:12.120> connect<00:04:12.299> and<00:04:12.720> that<00:04:12.959> is<00:04:13.140> that<00:04:13.560> we 00:04:13.789 --> 00:04:13.799 align:start position:0% to us the connect and that is that we 00:04:13.799 --> 00:04:16.969 align:start position:0% to us the connect and that is that we allow<00:04:14.159> for<00:04:14.400> this<00:04:15.299> thing<00:04:15.480> called<00:04:15.659> patching<00:04:16.260> and 00:04:16.969 --> 00:04:16.979 align:start position:0% allow for this thing called patching and 00:04:16.979 --> 00:04:18.949 align:start position:0% allow for this thing called patching and basically<00:04:17.340> what<00:04:17.579> it<00:04:17.760> means<00:04:18.060> is<00:04:18.299> that<00:04:18.600> when 00:04:18.949 --> 00:04:18.959 align:start position:0% basically what it means is that when 00:04:18.959 --> 00:04:20.629 align:start position:0% basically what it means is that when there<00:04:19.079> are<00:04:19.260> multiple<00:04:19.560> users<00:04:19.979> which<00:04:20.280> want<00:04:20.519> to 00:04:20.629 --> 00:04:20.639 align:start position:0% there are multiple users which want to 00:04:20.639 --> 00:04:23.629 align:start position:0% there are multiple users which want to do<00:04:20.820> the<00:04:21.060> same<00:04:21.299> interaction<00:04:21.900> on<00:04:22.199> ethereum<00:04:22.680> L1 00:04:23.629 --> 00:04:23.639 align:start position:0% do the same interaction on ethereum L1 00:04:23.639 --> 00:04:26.330 align:start position:0% do the same interaction on ethereum L1 we<00:04:24.479> basically<00:04:24.900> do<00:04:25.139> only<00:04:25.320> one<00:04:25.620> interaction<00:04:26.100> on 00:04:26.330 --> 00:04:26.340 align:start position:0% we basically do only one interaction on 00:04:26.340 --> 00:04:28.790 align:start position:0% we basically do only one interaction on L1<00:04:26.699> and<00:04:27.240> on<00:04:27.419> the<00:04:27.540> inputs<00:04:27.900> of<00:04:28.080> the<00:04:28.259> interaction 00:04:28.790 --> 00:04:28.800 align:start position:0% L1 and on the inputs of the interaction 00:04:28.800 --> 00:04:32.810 align:start position:0% L1 and on the inputs of the interaction is<00:04:29.040> like<00:04:29.280> a<00:04:29.520> sum<00:04:29.759> of<00:04:30.080> those<00:04:31.080> token<00:04:31.560> amounts<00:04:32.460> so 00:04:32.810 --> 00:04:32.820 align:start position:0% is like a sum of those token amounts so 00:04:32.820 --> 00:04:34.310 align:start position:0% is like a sum of those token amounts so basically<00:04:33.120> when<00:04:33.300> there<00:04:33.479> are<00:04:33.600> like<00:04:33.720> 10<00:04:33.900> users 00:04:34.310 --> 00:04:34.320 align:start position:0% basically when there are like 10 users 00:04:34.320 --> 00:04:36.830 align:start position:0% basically when there are like 10 users which<00:04:34.560> want<00:04:34.800> to<00:04:34.919> deposit<00:04:35.400> each<00:04:35.580> to<00:04:35.820> Lido<00:04:36.240> and 00:04:36.830 --> 00:04:36.840 align:start position:0% which want to deposit each to Lido and 00:04:36.840 --> 00:04:38.689 align:start position:0% which want to deposit each to Lido and let's<00:04:37.020> say<00:04:37.199> for<00:04:37.380> Simplicity<00:04:37.919> each<00:04:38.160> user<00:04:38.520> has 00:04:38.689 --> 00:04:38.699 align:start position:0% let's say for Simplicity each user has 00:04:38.699 --> 00:04:41.629 align:start position:0% let's say for Simplicity each user has one<00:04:38.880> if<00:04:39.120> we<00:04:39.900> only<00:04:40.139> call<00:04:40.800> the<00:04:41.040> stake<00:04:41.340> function 00:04:41.629 --> 00:04:41.639 align:start position:0% one if we only call the stake function 00:04:41.639 --> 00:04:44.629 align:start position:0% one if we only call the stake function on<00:04:41.820> Lido<00:04:42.240> contract<00:04:42.540> once<00:04:42.900> with<00:04:43.080> the<00:04:43.259> 10<00:04:43.440> ether 00:04:44.629 --> 00:04:44.639 align:start position:0% on Lido contract once with the 10 ether 00:04:44.639 --> 00:04:47.450 align:start position:0% on Lido contract once with the 10 ether and<00:04:45.300> then<00:04:45.479> later<00:04:45.720> on<00:04:45.960> WE<00:04:46.199> distribute<00:04:46.740> the 00:04:47.450 --> 00:04:47.460 align:start position:0% and then later on WE distribute the 00:04:47.460 --> 00:04:49.909 align:start position:0% and then later on WE distribute the results<00:04:47.580> to<00:04:48.000> the<00:04:48.120> users<00:04:48.440> and<00:04:49.440> in<00:04:49.680> this<00:04:49.800> case 00:04:49.909 --> 00:04:49.919 align:start position:0% results to the users and in this case 00:04:49.919 --> 00:04:51.590 align:start position:0% results to the users and in this case like<00:04:50.280> the<00:04:50.460> results<00:04:50.699> would<00:04:50.940> be<00:04:51.120> the<00:04:51.240> output 00:04:51.590 --> 00:04:51.600 align:start position:0% like the results would be the output 00:04:51.600 --> 00:04:57.350 align:start position:0% like the results would be the output tokens<00:04:52.199> which<00:04:52.500> is<00:04:52.620> staked 00:04:57.350 --> 00:04:57.360 align:start position:0% 00:04:57.360 --> 00:05:00.050 align:start position:0% yeah<00:04:57.840> I<00:04:58.020> would<00:04:58.139> like<00:04:58.320> to<00:04:58.520> briefly<00:04:59.520> pick<00:04:59.820> what 00:05:00.050 --> 00:05:00.060 align:start position:0% yeah I would like to briefly pick what 00:05:00.060 --> 00:05:02.810 align:start position:0% yeah I would like to briefly pick what is<00:05:00.300> behind<00:05:00.600> the<00:05:00.720> scenes<00:05:01.080> and<00:05:01.560> we<00:05:01.919> use<00:05:02.100> utxo 00:05:02.810 --> 00:05:02.820 align:start position:0% is behind the scenes and we use utxo 00:05:02.820 --> 00:05:06.050 align:start position:0% is behind the scenes and we use utxo model<00:05:03.060> it<00:05:03.720> was<00:05:03.840> talked<00:05:04.259> about<00:05:04.520> by<00:05:05.520> quite<00:05:05.820> a<00:05:05.940> lot 00:05:06.050 --> 00:05:06.060 align:start position:0% model it was talked about by quite a lot 00:05:06.060 --> 00:05:07.670 align:start position:0% model it was talked about by quite a lot in<00:05:06.240> the<00:05:06.360> Aztec<00:05:06.840> 3 00:05:07.670 --> 00:05:07.680 align:start position:0% in the Aztec 3 00:05:07.680 --> 00:05:09.950 align:start position:0% in the Aztec 3 presentation<00:05:08.400> before<00:05:08.759> but<00:05:09.479> basically<00:05:09.780> what 00:05:09.950 --> 00:05:09.960 align:start position:0% presentation before but basically what 00:05:09.960 --> 00:05:12.850 align:start position:0% presentation before but basically what is<00:05:10.080> a<00:05:10.139> utxo<00:05:10.800> model<00:05:11.040> is<00:05:11.580> that<00:05:11.880> you<00:05:12.240> can<00:05:12.360> imagine 00:05:12.850 --> 00:05:12.860 align:start position:0% is a utxo model is that you can imagine 00:05:12.860 --> 00:05:15.469 align:start position:0% is a utxo model is that you can imagine when<00:05:13.860> you<00:05:13.979> have<00:05:14.160> banknotes<00:05:14.880> and<00:05:15.060> you<00:05:15.180> want<00:05:15.360> to 00:05:15.469 --> 00:05:15.479 align:start position:0% when you have banknotes and you want to 00:05:15.479 --> 00:05:16.790 align:start position:0% when you have banknotes and you want to go<00:05:15.600> to<00:05:15.720> a<00:05:15.900> merchant<00:05:16.199> and<00:05:16.320> you<00:05:16.440> want<00:05:16.560> to<00:05:16.680> pay 00:05:16.790 --> 00:05:16.800 align:start position:0% go to a merchant and you want to pay 00:05:16.800 --> 00:05:18.170 align:start position:0% go to a merchant and you want to pay with<00:05:16.979> the<00:05:17.100> banknote 00:05:18.170 --> 00:05:18.180 align:start position:0% with the banknote 00:05:18.180 --> 00:05:20.390 align:start position:0% with the banknote so<00:05:18.780> what<00:05:19.199> happens<00:05:19.380> is<00:05:19.740> that<00:05:19.979> you<00:05:20.100> can<00:05:20.220> like 00:05:20.390 --> 00:05:20.400 align:start position:0% so what happens is that you can like 00:05:20.400 --> 00:05:21.890 align:start position:0% so what happens is that you can like split<00:05:20.759> this<00:05:20.880> banknote<00:05:21.240> but<00:05:21.479> you<00:05:21.600> give<00:05:21.720> the 00:05:21.890 --> 00:05:21.900 align:start position:0% split this banknote but you give the 00:05:21.900 --> 00:05:23.629 align:start position:0% split this banknote but you give the merchant<00:05:22.199> the<00:05:22.320> banknote<00:05:22.740> and<00:05:22.979> he<00:05:23.160> gives<00:05:23.460> you 00:05:23.629 --> 00:05:23.639 align:start position:0% merchant the banknote and he gives you 00:05:23.639 --> 00:05:25.670 align:start position:0% merchant the banknote and he gives you the<00:05:23.820> money<00:05:23.940> back<00:05:24.240> and<00:05:25.020> this<00:05:25.199> is<00:05:25.320> essentially 00:05:25.670 --> 00:05:25.680 align:start position:0% the money back and this is essentially 00:05:25.680 --> 00:05:28.070 align:start position:0% the money back and this is essentially what<00:05:25.919> we<00:05:26.039> do<00:05:26.220> as<00:05:26.400> well<00:05:26.639> and<00:05:27.360> we<00:05:27.479> do<00:05:27.660> it<00:05:27.840> with 00:05:28.070 --> 00:05:28.080 align:start position:0% what we do as well and we do it with 00:05:28.080 --> 00:05:30.290 align:start position:0% what we do as well and we do it with this<00:05:28.259> thing<00:05:28.440> join<00:05:28.860> split<00:05:29.220> circuit<00:05:29.639> and 00:05:30.290 --> 00:05:30.300 align:start position:0% this thing join split circuit and 00:05:30.300 --> 00:05:32.749 align:start position:0% this thing join split circuit and essentially<00:05:30.720> what<00:05:31.020> this<00:05:31.199> allows<00:05:31.620> is<00:05:32.340> that<00:05:32.580> you 00:05:32.749 --> 00:05:32.759 align:start position:0% essentially what this allows is that you 00:05:32.759 --> 00:05:35.629 align:start position:0% essentially what this allows is that you have<00:05:33.539> two<00:05:34.080> possible<00:05:34.560> nodes<00:05:34.979> on<00:05:35.220> the<00:05:35.340> input 00:05:35.629 --> 00:05:35.639 align:start position:0% have two possible nodes on the input 00:05:35.639 --> 00:05:38.390 align:start position:0% have two possible nodes on the input which<00:05:36.360> get<00:05:36.660> destroyed<00:05:37.139> in<00:05:37.259> the<00:05:37.440> process<00:05:37.740> and 00:05:38.390 --> 00:05:38.400 align:start position:0% which get destroyed in the process and 00:05:38.400 --> 00:05:39.950 align:start position:0% which get destroyed in the process and then<00:05:38.520> there<00:05:38.699> are<00:05:38.820> two<00:05:39.000> nodes<00:05:39.240> on<00:05:39.419> the<00:05:39.600> output 00:05:39.950 --> 00:05:39.960 align:start position:0% then there are two nodes on the output 00:05:39.960 --> 00:05:44.210 align:start position:0% then there are two nodes on the output and<00:05:40.919> for<00:05:41.100> example<00:05:41.340> in<00:05:41.699> the<00:05:41.880> example<00:05:42.419> of<00:05:43.080> of<00:05:43.860> the 00:05:44.210 --> 00:05:44.220 align:start position:0% and for example in the example of of the 00:05:44.220 --> 00:05:47.150 align:start position:0% and for example in the example of of the bridge<00:05:44.400> interact<00:05:45.120> of<00:05:45.479> the<00:05:45.720> D5<00:05:46.440> deposit<00:05:46.919> to 00:05:47.150 --> 00:05:47.160 align:start position:0% bridge interact of the D5 deposit to 00:05:47.160 --> 00:05:50.270 align:start position:0% bridge interact of the D5 deposit to Lido<00:05:47.940> uh<00:05:48.660> on<00:05:48.960> the<00:05:49.080> input<00:05:49.500> would<00:05:49.800> be<00:05:49.979> for 00:05:50.270 --> 00:05:50.280 align:start position:0% Lido uh on the input would be for 00:05:50.280 --> 00:05:53.450 align:start position:0% Lido uh on the input would be for example<00:05:50.639> 0.5<00:05:51.539> if<00:05:52.020> and<00:05:52.680> in<00:05:52.800> case<00:05:52.979> the<00:05:53.280> original 00:05:53.450 --> 00:05:53.460 align:start position:0% example 0.5 if and in case the original 00:05:53.460 --> 00:05:56.090 align:start position:0% example 0.5 if and in case the original value<00:05:54.240> held<00:05:54.720> in<00:05:54.780> your<00:05:54.960> account<00:05:55.199> was<00:05:55.560> one<00:05:55.860> note 00:05:56.090 --> 00:05:56.100 align:start position:0% value held in your account was one note 00:05:56.100 --> 00:05:57.650 align:start position:0% value held in your account was one note with<00:05:56.340> one<00:05:56.580> if 00:05:57.650 --> 00:05:57.660 align:start position:0% with one if 00:05:57.660 --> 00:05:59.810 align:start position:0% with one if this<00:05:58.259> node<00:05:58.440> would<00:05:58.620> get<00:05:58.860> destroyed<00:05:59.340> and<00:05:59.460> on<00:05:59.639> the 00:05:59.810 --> 00:05:59.820 align:start position:0% this node would get destroyed and on the 00:05:59.820 --> 00:06:02.210 align:start position:0% this node would get destroyed and on the output<00:06:00.060> would<00:06:00.300> be<00:06:00.479> this<00:06:00.720> claim<00:06:01.080> node<00:06:01.440> and 00:06:02.210 --> 00:06:02.220 align:start position:0% output would be this claim node and 00:06:02.220 --> 00:06:04.129 align:start position:0% output would be this claim node and another<00:06:02.460> volume<00:06:02.759> node<00:06:03.180> that<00:06:03.479> value<00:06:03.720> node 00:06:04.129 --> 00:06:04.139 align:start position:0% another volume node that value node 00:06:04.139 --> 00:06:06.350 align:start position:0% another volume node that value node would<00:06:04.320> hold<00:06:04.560> the<00:06:04.860> remaining<00:06:05.340> heat<00:06:05.580> balance<00:06:06.000> so 00:06:06.350 --> 00:06:06.360 align:start position:0% would hold the remaining heat balance so 00:06:06.360 --> 00:06:09.550 align:start position:0% would hold the remaining heat balance so it<00:06:06.539> would<00:06:06.660> be<00:06:06.780> 0.5<00:06:07.199> if<00:06:07.740> and<00:06:08.580> that<00:06:08.759> claim<00:06:09.180> node 00:06:09.550 --> 00:06:09.560 align:start position:0% it would be 0.5 if and that claim node 00:06:09.560 --> 00:06:13.249 align:start position:0% it would be 0.5 if and that claim node would<00:06:10.560> allow<00:06:11.160> you<00:06:11.280> to<00:06:11.580> later<00:06:12.060> on<00:06:12.419> claim<00:06:13.020> the 00:06:13.249 --> 00:06:13.259 align:start position:0% would allow you to later on claim the 00:06:13.259 --> 00:06:14.710 align:start position:0% would allow you to later on claim the funds 00:06:14.710 --> 00:06:14.720 align:start position:0% funds 00:06:14.720 --> 00:06:17.090 align:start position:0% funds resulting<00:06:15.720> returned<00:06:16.380> from<00:06:16.560> the<00:06:16.680> defy 00:06:17.090 --> 00:06:17.100 align:start position:0% resulting returned from the defy 00:06:17.100 --> 00:06:20.090 align:start position:0% resulting returned from the defy interaction 00:06:20.090 --> 00:06:20.100 align:start position:0% 00:06:20.100 --> 00:06:22.430 align:start position:0% yeah 00:06:22.430 --> 00:06:22.440 align:start position:0% 00:06:22.440 --> 00:06:24.409 align:start position:0% so<00:06:23.039> you<00:06:23.220> might<00:06:23.340> be<00:06:23.460> asking<00:06:23.759> how<00:06:24.060> is<00:06:24.240> this 00:06:24.409 --> 00:06:24.419 align:start position:0% so you might be asking how is this 00:06:24.419 --> 00:06:26.990 align:start position:0% so you might be asking how is this possible<00:06:24.900> that<00:06:25.319> like<00:06:25.620> this<00:06:26.160> is<00:06:26.340> private<00:06:26.699> when 00:06:26.990 --> 00:06:27.000 align:start position:0% possible that like this is private when 00:06:27.000 --> 00:06:28.790 align:start position:0% possible that like this is private when the<00:06:27.300> settlement<00:06:27.900> like<00:06:28.319> the<00:06:28.440> interaction 00:06:28.790 --> 00:06:28.800 align:start position:0% the settlement like the interaction 00:06:28.800 --> 00:06:30.590 align:start position:0% the settlement like the interaction actually<00:06:29.100> happens<00:06:29.340> on<00:06:29.639> ethereum 00:06:30.590 --> 00:06:30.600 align:start position:0% actually happens on ethereum 00:06:30.600 --> 00:06:34.129 align:start position:0% actually happens on ethereum and<00:06:31.139> this<00:06:31.380> is<00:06:31.500> a<00:06:31.680> good<00:06:31.800> point<00:06:32.039> and<00:06:32.520> uh<00:06:33.479> here<00:06:33.840> in 00:06:34.129 --> 00:06:34.139 align:start position:0% and this is a good point and uh here in 00:06:34.139 --> 00:06:37.129 align:start position:0% and this is a good point and uh here in the<00:06:34.319> left<00:06:34.620> bottom<00:06:35.340> corner<00:06:35.819> we<00:06:36.539> can<00:06:36.720> see<00:06:36.960> what 00:06:37.129 --> 00:06:37.139 align:start position:0% the left bottom corner we can see what 00:06:37.139 --> 00:06:39.050 align:start position:0% the left bottom corner we can see what it<00:06:37.380> looks<00:06:37.680> like<00:06:37.800> like<00:06:38.039> what<00:06:38.280> token<00:06:38.699> transfers 00:06:39.050 --> 00:06:39.060 align:start position:0% it looks like like what token transfers 00:06:39.060 --> 00:06:40.490 align:start position:0% it looks like like what token transfers there<00:06:39.300> are 00:06:40.490 --> 00:06:40.500 align:start position:0% there are 00:06:40.500 --> 00:06:44.870 align:start position:0% there are and<00:06:41.180> this<00:06:42.180> looks<00:06:42.539> pretty<00:06:42.840> not<00:06:43.800> private<00:06:44.340> but 00:06:44.870 --> 00:06:44.880 align:start position:0% and this looks pretty not private but 00:06:44.880 --> 00:06:46.850 align:start position:0% and this looks pretty not private but the<00:06:45.060> thing<00:06:45.240> is<00:06:45.660> that<00:06:46.020> thanks<00:06:46.319> to<00:06:46.500> zero 00:06:46.850 --> 00:06:46.860 align:start position:0% the thing is that thanks to zero 00:06:46.860 --> 00:06:49.490 align:start position:0% the thing is that thanks to zero knowledge<00:06:47.100> proofs<00:06:47.520> nobody<00:06:48.360> can<00:06:48.720> distinguish 00:06:49.490 --> 00:06:49.500 align:start position:0% knowledge proofs nobody can distinguish 00:06:49.500 --> 00:06:52.249 align:start position:0% knowledge proofs nobody can distinguish like<00:06:49.979> who<00:06:50.699> is<00:06:51.000> actually<00:06:51.300> originated<00:06:51.960> this 00:06:52.249 --> 00:06:52.259 align:start position:0% like who is actually originated this 00:06:52.259 --> 00:06:53.990 align:start position:0% like who is actually originated this interaction<00:06:52.680> and<00:06:53.340> also<00:06:53.580> there<00:06:53.699> is<00:06:53.880> this 00:06:53.990 --> 00:06:54.000 align:start position:0% interaction and also there is this 00:06:54.000 --> 00:06:55.610 align:start position:0% interaction and also there is this aspect<00:06:54.300> that<00:06:54.479> there<00:06:54.600> can<00:06:54.780> be<00:06:54.900> multiple<00:06:55.259> users 00:06:55.610 --> 00:06:55.620 align:start position:0% aspect that there can be multiple users 00:06:55.620 --> 00:06:57.050 align:start position:0% aspect that there can be multiple users per<00:06:55.800> interaction 00:06:57.050 --> 00:06:57.060 align:start position:0% per interaction 00:06:57.060 --> 00:06:59.390 align:start position:0% per interaction and<00:06:57.840> so<00:06:58.080> these<00:06:58.319> balances<00:06:58.740> get<00:06:58.919> even<00:06:59.160> more 00:06:59.390 --> 00:06:59.400 align:start position:0% and so these balances get even more 00:06:59.400 --> 00:07:00.650 align:start position:0% and so these balances get even more obfuscated 00:07:00.650 --> 00:07:00.660 align:start position:0% obfuscated 00:07:00.660 --> 00:07:02.749 align:start position:0% obfuscated and<00:07:01.199> currently<00:07:01.560> there<00:07:01.800> are<00:07:01.919> more<00:07:02.039> than<00:07:02.220> 50<00:07:02.639> 000 00:07:02.749 --> 00:07:02.759 align:start position:0% and currently there are more than 50 000 00:07:02.759 --> 00:07:04.610 align:start position:0% and currently there are more than 50 000 unique<00:07:03.120> users<00:07:03.479> last<00:07:03.780> time<00:07:03.960> I<00:07:04.080> checked<00:07:04.380> it<00:07:04.440> was 00:07:04.610 --> 00:07:04.620 align:start position:0% unique users last time I checked it was 00:07:04.620 --> 00:07:06.650 align:start position:0% unique users last time I checked it was like<00:07:04.800> 51<00:07:05.520> 000<00:07:05.580> something 00:07:06.650 --> 00:07:06.660 align:start position:0% like 51 000 something 00:07:06.660 --> 00:07:09.469 align:start position:0% like 51 000 something and<00:07:07.080> it<00:07:07.319> means<00:07:07.560> that<00:07:07.740> like<00:07:08.039> the<00:07:08.940> amount<00:07:09.240> of 00:07:09.469 --> 00:07:09.479 align:start position:0% and it means that like the amount of 00:07:09.479 --> 00:07:12.409 align:start position:0% and it means that like the amount of people<00:07:09.840> you<00:07:10.440> get<00:07:10.680> height<00:07:11.340> with<00:07:11.699> is<00:07:11.940> spiritual 00:07:12.409 --> 00:07:12.419 align:start position:0% people you get height with is spiritual 00:07:12.419 --> 00:07:14.570 align:start position:0% people you get height with is spiritual Arch 00:07:14.570 --> 00:07:14.580 align:start position:0% Arch 00:07:14.580 --> 00:07:16.309 align:start position:0% Arch you<00:07:14.940> might<00:07:15.120> be<00:07:15.240> wondering<00:07:15.479> does<00:07:15.780> it<00:07:15.960> scale 00:07:16.309 --> 00:07:16.319 align:start position:0% you might be wondering does it scale 00:07:16.319 --> 00:07:18.950 align:start position:0% you might be wondering does it scale roll<00:07:16.860> up<00:07:17.100> is<00:07:17.280> quite<00:07:17.460> a<00:07:17.759> common<00:07:18.060> password<00:07:18.360> and 00:07:18.950 --> 00:07:18.960 align:start position:0% roll up is quite a common password and 00:07:18.960 --> 00:07:21.589 align:start position:0% roll up is quite a common password and it<00:07:19.139> does<00:07:19.319> scale<00:07:19.740> and<00:07:20.639> one<00:07:21.000> reason<00:07:21.180> why<00:07:21.419> it 00:07:21.589 --> 00:07:21.599 align:start position:0% it does scale and one reason why it 00:07:21.599 --> 00:07:23.510 align:start position:0% it does scale and one reason why it scales<00:07:22.020> is<00:07:22.259> because<00:07:22.380> there<00:07:22.680> is<00:07:22.800> that<00:07:22.919> one<00:07:23.099> L1 00:07:23.510 --> 00:07:23.520 align:start position:0% scales is because there is that one L1 00:07:23.520 --> 00:07:25.309 align:start position:0% scales is because there is that one L1 transaction<00:07:23.940> per 00:07:25.309 --> 00:07:25.319 align:start position:0% transaction per 00:07:25.319 --> 00:07:27.770 align:start position:0% transaction per multiple<00:07:26.220> users 00:07:27.770 --> 00:07:27.780 align:start position:0% multiple users 00:07:27.780 --> 00:07:29.930 align:start position:0% multiple users but<00:07:28.440> of<00:07:28.680> course<00:07:28.800> everything<00:07:29.039> is<00:07:29.460> always<00:07:29.639> more 00:07:29.930 --> 00:07:29.940 align:start position:0% but of course everything is always more 00:07:29.940 --> 00:07:32.330 align:start position:0% but of course everything is always more complicated<00:07:30.419> and<00:07:30.900> there<00:07:31.139> are<00:07:31.319> overhead<00:07:31.740> costs 00:07:32.330 --> 00:07:32.340 align:start position:0% complicated and there are overhead costs 00:07:32.340 --> 00:07:33.890 align:start position:0% complicated and there are overhead costs to<00:07:32.639> roll<00:07:32.880> ups 00:07:33.890 --> 00:07:33.900 align:start position:0% to roll ups 00:07:33.900 --> 00:07:36.230 align:start position:0% to roll ups and<00:07:34.560> this<00:07:34.860> costs<00:07:35.220> are<00:07:35.340> cost<00:07:35.580> of<00:07:35.819> posting 00:07:36.230 --> 00:07:36.240 align:start position:0% and this costs are cost of posting 00:07:36.240 --> 00:07:38.330 align:start position:0% and this costs are cost of posting overall<00:07:36.720> up<00:07:36.840> and<00:07:37.139> per<00:07:37.380> transaction<00:07:37.800> cost<00:07:38.099> of 00:07:38.330 --> 00:07:38.340 align:start position:0% overall up and per transaction cost of 00:07:38.340 --> 00:07:39.589 align:start position:0% overall up and per transaction cost of call<00:07:38.520> data 00:07:39.589 --> 00:07:39.599 align:start position:0% call data 00:07:39.599 --> 00:07:41.689 align:start position:0% call data luckily<00:07:40.259> this<00:07:40.440> cost<00:07:40.680> of<00:07:40.800> posting<00:07:41.160> a<00:07:41.340> roll<00:07:41.520> up 00:07:41.689 --> 00:07:41.699 align:start position:0% luckily this cost of posting a roll up 00:07:41.699 --> 00:07:43.850 align:start position:0% luckily this cost of posting a roll up gets<00:07:42.240> split<00:07:42.419> between<00:07:42.599> many<00:07:43.080> users<00:07:43.500> so<00:07:43.740> when 00:07:43.850 --> 00:07:43.860 align:start position:0% gets split between many users so when 00:07:43.860 --> 00:07:45.589 align:start position:0% gets split between many users so when there<00:07:43.979> are<00:07:44.160> many<00:07:44.280> users<00:07:44.639> in<00:07:44.759> develop<00:07:45.060> this 00:07:45.589 --> 00:07:45.599 align:start position:0% there are many users in develop this 00:07:45.599 --> 00:07:49.189 align:start position:0% there are many users in develop this goes<00:07:46.080> down<00:07:46.800> and<00:07:47.520> the<00:07:48.000> cost<00:07:48.180> of<00:07:48.360> call<00:07:48.599> data<00:07:49.080> is 00:07:49.189 --> 00:07:49.199 align:start position:0% goes down and the cost of call data is 00:07:49.199 --> 00:07:51.290 align:start position:0% goes down and the cost of call data is fortunately<00:07:49.620> going<00:07:49.919> to<00:07:50.099> down<00:07:50.400> a<00:07:50.699> lot<00:07:50.880> with 00:07:51.290 --> 00:07:51.300 align:start position:0% fortunately going to down a lot with 00:07:51.300 --> 00:07:53.330 align:start position:0% fortunately going to down a lot with this<00:07:51.599> ethereum<00:07:52.139> Improvement<00:07:52.560> proposal<00:07:53.099> for 00:07:53.330 --> 00:07:53.340 align:start position:0% this ethereum Improvement proposal for 00:07:53.340 --> 00:07:54.589 align:start position:0% this ethereum Improvement proposal for 844 00:07:54.589 --> 00:07:54.599 align:start position:0% 844 00:07:54.599 --> 00:07:57.290 align:start position:0% 844 so<00:07:55.500> hopefully<00:07:56.099> like<00:07:56.340> in<00:07:56.520> a<00:07:56.699> not<00:07:56.819> so<00:07:56.940> distant 00:07:57.290 --> 00:07:57.300 align:start position:0% so hopefully like in a not so distant 00:07:57.300 --> 00:07:59.870 align:start position:0% so hopefully like in a not so distant future<00:07:57.599> the<00:07:58.380> cost<00:07:58.680> of<00:07:59.039> interacting<00:07:59.520> privately 00:07:59.870 --> 00:07:59.880 align:start position:0% future the cost of interacting privately 00:07:59.880 --> 00:08:03.350 align:start position:0% future the cost of interacting privately with<00:08:00.120> D5<00:08:00.720> will<00:08:01.440> actually<00:08:01.680> get<00:08:02.160> very<00:08:02.819> close<00:08:03.060> to 00:08:03.350 --> 00:08:03.360 align:start position:0% with D5 will actually get very close to 00:08:03.360 --> 00:08:07.790 align:start position:0% with D5 will actually get very close to the<00:08:03.539> gas<00:08:03.720> cost<00:08:04.080> of<00:08:04.740> that<00:08:04.979> one<00:08:05.460> L1<00:08:06.120> call<00:08:07.080> divided 00:08:07.790 --> 00:08:07.800 align:start position:0% the gas cost of that one L1 call divided 00:08:07.800 --> 00:08:10.490 align:start position:0% the gas cost of that one L1 call divided by<00:08:07.979> the<00:08:08.160> number<00:08:08.280> of<00:08:08.460> users 00:08:10.490 --> 00:08:10.500 align:start position:0% by the number of users 00:08:10.500 --> 00:08:12.650 align:start position:0% by the number of users uh<00:08:11.160> now<00:08:11.340> you<00:08:11.520> might<00:08:11.699> be<00:08:11.819> wondering<00:08:12.120> like<00:08:12.360> how 00:08:12.650 --> 00:08:12.660 align:start position:0% uh now you might be wondering like how 00:08:12.660 --> 00:08:14.930 align:start position:0% uh now you might be wondering like how do<00:08:12.780> we<00:08:12.960> integrate<00:08:13.500> is<00:08:14.280> there<00:08:14.400> like<00:08:14.639> some 00:08:14.930 --> 00:08:14.940 align:start position:0% do we integrate is there like some 00:08:14.940 --> 00:08:16.490 align:start position:0% do we integrate is there like some integration<00:08:15.360> needed 00:08:16.490 --> 00:08:16.500 align:start position:0% integration needed 00:08:16.500 --> 00:08:18.710 align:start position:0% integration needed and<00:08:17.039> unfortunately<00:08:17.460> yes<00:08:17.880> but<00:08:18.180> it's<00:08:18.360> not<00:08:18.539> so 00:08:18.710 --> 00:08:18.720 align:start position:0% and unfortunately yes but it's not so 00:08:18.720 --> 00:08:21.110 align:start position:0% and unfortunately yes but it's not so complicated<00:08:19.139> and<00:08:20.039> we<00:08:20.220> have<00:08:20.400> this<00:08:20.819> thing 00:08:21.110 --> 00:08:21.120 align:start position:0% complicated and we have this thing 00:08:21.120 --> 00:08:23.990 align:start position:0% complicated and we have this thing called<00:08:21.479> Bridges<00:08:22.080> but<00:08:22.800> Bridges<00:08:23.340> nowadays<00:08:23.819> have 00:08:23.990 --> 00:08:24.000 align:start position:0% called Bridges but Bridges nowadays have 00:08:24.000 --> 00:08:25.969 align:start position:0% called Bridges but Bridges nowadays have quite<00:08:24.180> a<00:08:24.419> bad<00:08:24.599> connotation 00:08:25.969 --> 00:08:25.979 align:start position:0% quite a bad connotation 00:08:25.979 --> 00:08:28.610 align:start position:0% quite a bad connotation and<00:08:26.639> in<00:08:27.240> our<00:08:27.360> case<00:08:27.599> the<00:08:27.840> bridge<00:08:28.020> is<00:08:28.319> just<00:08:28.500> a 00:08:28.610 --> 00:08:28.620 align:start position:0% and in our case the bridge is just a 00:08:28.620 --> 00:08:30.589 align:start position:0% and in our case the bridge is just a simple<00:08:28.800> smart<00:08:29.160> contract<00:08:29.639> so<00:08:30.000> there<00:08:30.240> is<00:08:30.360> no 00:08:30.589 --> 00:08:30.599 align:start position:0% simple smart contract so there is no 00:08:30.599 --> 00:08:32.930 align:start position:0% simple smart contract so there is no multi-stick<00:08:31.199> risk<00:08:31.560> and<00:08:32.099> the<00:08:32.279> smart<00:08:32.459> contracts 00:08:32.930 --> 00:08:32.940 align:start position:0% multi-stick risk and the smart contracts 00:08:32.940 --> 00:08:35.209 align:start position:0% multi-stick risk and the smart contracts tend<00:08:33.060> to<00:08:33.180> be<00:08:33.300> fairly<00:08:33.719> simple 00:08:35.209 --> 00:08:35.219 align:start position:0% tend to be fairly simple 00:08:35.219 --> 00:08:36.889 align:start position:0% tend to be fairly simple so<00:08:35.640> here<00:08:35.820> on<00:08:36.000> the<00:08:36.120> left<00:08:36.240> we<00:08:36.479> see<00:08:36.659> the<00:08:36.719> ID 00:08:36.889 --> 00:08:36.899 align:start position:0% so here on the left we see the ID 00:08:36.899 --> 00:08:39.230 align:start position:0% so here on the left we see the ID vibration<00:08:37.440> interface<00:08:38.039> and<00:08:38.580> there<00:08:39.000> we 00:08:39.230 --> 00:08:39.240 align:start position:0% vibration interface and there we 00:08:39.240 --> 00:08:41.449 align:start position:0% vibration interface and there we basically<00:08:39.479> just<00:08:39.659> Define<00:08:40.380> input<00:08:40.979> and<00:08:41.159> output 00:08:41.449 --> 00:08:41.459 align:start position:0% basically just Define input and output 00:08:41.459 --> 00:08:43.909 align:start position:0% basically just Define input and output tokens<00:08:41.940> then<00:08:42.839> we<00:08:43.020> have<00:08:43.140> total<00:08:43.440> input<00:08:43.740> value 00:08:43.909 --> 00:08:43.919 align:start position:0% tokens then we have total input value 00:08:43.919 --> 00:08:46.630 align:start position:0% tokens then we have total input value which<00:08:44.279> is<00:08:44.399> the<00:08:44.700> sum<00:08:44.940> of<00:08:45.180> those<00:08:46.020> two<00:08:46.200> users 00:08:46.630 --> 00:08:46.640 align:start position:0% which is the sum of those two users 00:08:46.640 --> 00:08:50.509 align:start position:0% which is the sum of those two users input<00:08:47.640> balances<00:08:48.300> and<00:08:49.080> aux<00:08:49.440> data<00:08:49.860> which<00:08:50.399> is 00:08:50.509 --> 00:08:50.519 align:start position:0% input balances and aux data which is 00:08:50.519 --> 00:08:53.269 align:start position:0% input balances and aux data which is arbitrary<00:08:51.120> data<00:08:51.600> which<00:08:51.839> can<00:08:52.080> be<00:08:52.320> used<00:08:52.920> to<00:08:53.160> pass 00:08:53.269 --> 00:08:53.279 align:start position:0% arbitrary data which can be used to pass 00:08:53.279 --> 00:08:55.070 align:start position:0% arbitrary data which can be used to pass to<00:08:53.519> the<00:08:53.640> bridge<00:08:53.820> contract 00:08:55.070 --> 00:08:55.080 align:start position:0% to the bridge contract 00:08:55.080 --> 00:08:57.470 align:start position:0% to the bridge contract and<00:08:55.740> on<00:08:56.040> the<00:08:56.220> bottom<00:08:56.519> right<00:08:56.700> corner<00:08:57.060> we<00:08:57.300> can 00:08:57.470 --> 00:08:57.480 align:start position:0% and on the bottom right corner we can 00:08:57.480 --> 00:08:59.690 align:start position:0% and on the bottom right corner we can see<00:08:57.660> the<00:08:57.959> implementation<00:08:58.500> of<00:08:58.800> the<00:08:58.980> con<00:08:59.160> of<00:08:59.519> the 00:08:59.690 --> 00:08:59.700 align:start position:0% see the implementation of the con of the 00:08:59.700 --> 00:09:02.030 align:start position:0% see the implementation of the con of the function<00:09:00.000> itself<00:09:00.540> and<00:09:01.140> in<00:09:01.320> this<00:09:01.440> case<00:09:01.620> it's<00:09:01.860> an 00:09:02.030 --> 00:09:02.040 align:start position:0% function itself and in this case it's an 00:09:02.040 --> 00:09:05.210 align:start position:0% function itself and in this case it's an implementation<00:09:02.519> of<00:09:02.880> an<00:09:03.260> erc4626<00:09:04.260> bridge<00:09:04.440> and 00:09:05.210 --> 00:09:05.220 align:start position:0% implementation of an erc4626 bridge and 00:09:05.220 --> 00:09:07.610 align:start position:0% implementation of an erc4626 bridge and we<00:09:05.399> see<00:09:05.640> that<00:09:05.820> it<00:09:06.000> is<00:09:06.180> like<00:09:06.360> a<00:09:06.600> relative<00:09:06.899> we 00:09:07.610 --> 00:09:07.620 align:start position:0% we see that it is like a relative we 00:09:07.620 --> 00:09:10.790 align:start position:0% we see that it is like a relative we basically<00:09:07.920> just<00:09:08.339> call<00:09:08.720> deposit<00:09:09.720> if<00:09:10.260> deposit 00:09:10.790 --> 00:09:10.800 align:start position:0% basically just call deposit if deposit 00:09:10.800 --> 00:09:13.790 align:start position:0% basically just call deposit if deposit flow<00:09:11.040> is<00:09:11.279> executed<00:09:12.180> or<00:09:12.720> we<00:09:12.899> call<00:09:13.080> redeem<00:09:13.440> in 00:09:13.790 --> 00:09:13.800 align:start position:0% flow is executed or we call redeem in 00:09:13.800 --> 00:09:14.750 align:start position:0% flow is executed or we call redeem in case 00:09:14.750 --> 00:09:14.760 align:start position:0% case 00:09:14.760 --> 00:09:19.070 align:start position:0% case withdrawal<00:09:15.660> flow<00:09:16.260> is<00:09:16.380> executed 00:09:19.070 --> 00:09:19.080 align:start position:0% 00:09:19.080 --> 00:09:20.690 align:start position:0% now<00:09:19.440> you<00:09:19.620> might<00:09:19.740> be<00:09:19.860> asking<00:09:20.160> if<00:09:20.399> there<00:09:20.580> are 00:09:20.690 --> 00:09:20.700 align:start position:0% now you might be asking if there are 00:09:20.700 --> 00:09:21.829 align:start position:0% now you might be asking if there are some<00:09:20.820> limitations 00:09:21.829 --> 00:09:21.839 align:start position:0% some limitations 00:09:21.839 --> 00:09:24.110 align:start position:0% some limitations and<00:09:22.500> there<00:09:22.680> are<00:09:22.860> quite<00:09:23.040> a<00:09:23.220> few<00:09:23.339> I<00:09:23.880> would<00:09:24.000> say 00:09:24.110 --> 00:09:24.120 align:start position:0% and there are quite a few I would say 00:09:24.120 --> 00:09:25.850 align:start position:0% and there are quite a few I would say the<00:09:24.420> biggest<00:09:24.540> one<00:09:24.899> are<00:09:25.200> the<00:09:25.440> longer 00:09:25.850 --> 00:09:25.860 align:start position:0% the biggest one are the longer 00:09:25.860 --> 00:09:29.690 align:start position:0% the biggest one are the longer settlement<00:09:26.279> time<00:09:26.660> and<00:09:27.660> that<00:09:28.019> is<00:09:28.680> because<00:09:29.339> when 00:09:29.690 --> 00:09:29.700 align:start position:0% settlement time and that is because when 00:09:29.700 --> 00:09:31.130 align:start position:0% settlement time and that is because when you 00:09:31.130 --> 00:09:31.140 align:start position:0% you 00:09:31.140 --> 00:09:34.310 align:start position:0% you you<00:09:31.560> we<00:09:31.920> have<00:09:32.160> to<00:09:32.339> wait<00:09:32.640> for<00:09:33.540> the<00:09:33.720> batch<00:09:33.899> to<00:09:34.140> get 00:09:34.310 --> 00:09:34.320 align:start position:0% you we have to wait for the batch to get 00:09:34.320 --> 00:09:36.350 align:start position:0% you we have to wait for the batch to get submitted<00:09:34.860> to 00:09:36.350 --> 00:09:36.360 align:start position:0% submitted to 00:09:36.360 --> 00:09:38.090 align:start position:0% submitted to to<00:09:36.420> ethereum 00:09:38.090 --> 00:09:38.100 align:start position:0% to ethereum 00:09:38.100 --> 00:09:41.030 align:start position:0% to ethereum like<00:09:38.700> luckily<00:09:39.180> you<00:09:39.480> can<00:09:39.600> pay<00:09:39.899> if<00:09:40.680> you<00:09:40.920> are 00:09:41.030 --> 00:09:41.040 align:start position:0% like luckily you can pay if you are 00:09:41.040 --> 00:09:43.310 align:start position:0% like luckily you can pay if you are really<00:09:41.160> in<00:09:41.399> a<00:09:41.580> hurry<00:09:41.760> so<00:09:42.300> you<00:09:42.480> can<00:09:42.600> pay<00:09:42.839> for<00:09:43.140> the 00:09:43.310 --> 00:09:43.320 align:start position:0% really in a hurry so you can pay for the 00:09:43.320 --> 00:09:45.590 align:start position:0% really in a hurry so you can pay for the full<00:09:43.800> roll-up<00:09:44.459> block<00:09:44.640> and<00:09:44.880> in<00:09:45.000> that<00:09:45.120> case<00:09:45.360> you 00:09:45.590 --> 00:09:45.600 align:start position:0% full roll-up block and in that case you 00:09:45.600 --> 00:09:48.889 align:start position:0% full roll-up block and in that case you could<00:09:45.779> get<00:09:46.019> the<00:09:46.260> instant<00:09:46.920> settlement<00:09:47.339> time 00:09:48.889 --> 00:09:48.899 align:start position:0% could get the instant settlement time 00:09:48.899 --> 00:09:50.930 align:start position:0% could get the instant settlement time but<00:09:49.500> most<00:09:49.800> users<00:09:50.279> don't<00:09:50.459> want<00:09:50.640> to<00:09:50.700> do<00:09:50.820> it 00:09:50.930 --> 00:09:50.940 align:start position:0% but most users don't want to do it 00:09:50.940 --> 00:09:53.210 align:start position:0% but most users don't want to do it because<00:09:51.120> it's<00:09:51.360> fairly<00:09:51.720> expensive<00:09:52.200> and<00:09:52.800> this 00:09:53.210 --> 00:09:53.220 align:start position:0% because it's fairly expensive and this 00:09:53.220 --> 00:09:55.430 align:start position:0% because it's fairly expensive and this causes<00:09:53.820> like<00:09:54.000> some<00:09:54.240> problems<00:09:54.660> with<00:09:54.899> slippage 00:09:55.430 --> 00:09:55.440 align:start position:0% causes like some problems with slippage 00:09:55.440 --> 00:09:57.410 align:start position:0% causes like some problems with slippage so<00:09:56.160> for<00:09:56.339> example<00:09:56.519> you<00:09:56.700> can<00:09:56.820> imagine<00:09:56.940> when<00:09:57.240> you 00:09:57.410 --> 00:09:57.420 align:start position:0% so for example you can imagine when you 00:09:57.420 --> 00:09:59.389 align:start position:0% so for example you can imagine when you trade<00:09:57.600> on<00:09:57.720> uniswap<00:09:58.320> you<00:09:58.620> define<00:09:58.740> a<00:09:59.040> slippage 00:09:59.389 --> 00:09:59.399 align:start position:0% trade on uniswap you define a slippage 00:09:59.399 --> 00:10:01.970 align:start position:0% trade on uniswap you define a slippage parameter<00:10:00.000> which<00:10:00.660> basically<00:10:01.019> protects<00:10:01.740> you 00:10:01.970 --> 00:10:01.980 align:start position:0% parameter which basically protects you 00:10:01.980 --> 00:10:04.750 align:start position:0% parameter which basically protects you from 00:10:04.750 --> 00:10:04.760 align:start position:0% 00:10:04.760 --> 00:10:08.930 align:start position:0% Mev<00:10:05.760> Bots<00:10:06.060> exploiting<00:10:06.839> you<00:10:07.100> or<00:10:08.100> in<00:10:08.519> general<00:10:08.640> it 00:10:08.930 --> 00:10:08.940 align:start position:0% Mev Bots exploiting you or in general it 00:10:08.940 --> 00:10:11.750 align:start position:0% Mev Bots exploiting you or in general it can<00:10:09.120> protect<00:10:09.420> you<00:10:09.540> from<00:10:09.720> Market<00:10:09.959> movements 00:10:11.750 --> 00:10:11.760 align:start position:0% can protect you from Market movements 00:10:11.760 --> 00:10:14.090 align:start position:0% can protect you from Market movements and<00:10:12.480> the<00:10:12.660> longer<00:10:12.959> settlement<00:10:13.260> time<00:10:13.500> can<00:10:13.740> also 00:10:14.090 --> 00:10:14.100 align:start position:0% and the longer settlement time can also 00:10:14.100 --> 00:10:15.949 align:start position:0% and the longer settlement time can also cause<00:10:14.220> issues<00:10:14.580> with<00:10:14.760> liquidations<00:10:15.360> because 00:10:15.949 --> 00:10:15.959 align:start position:0% cause issues with liquidations because 00:10:15.959 --> 00:10:17.570 align:start position:0% cause issues with liquidations because you<00:10:16.200> can<00:10:16.380> imagine<00:10:16.500> if<00:10:16.920> we<00:10:17.040> are<00:10:17.160> close<00:10:17.279> to<00:10:17.459> being 00:10:17.570 --> 00:10:17.580 align:start position:0% you can imagine if we are close to being 00:10:17.580 --> 00:10:21.410 align:start position:0% you can imagine if we are close to being click<00:10:17.760> related<00:10:18.120> and<00:10:18.720> you<00:10:19.620> need<00:10:19.920> like<00:10:20.399> fast<00:10:20.820> to 00:10:21.410 --> 00:10:21.420 align:start position:0% click related and you need like fast to 00:10:21.420 --> 00:10:25.130 align:start position:0% click related and you need like fast to exit<00:10:22.140> the<00:10:22.380> position<00:10:22.560> or<00:10:22.980> something<00:10:23.160> in<00:10:24.120> the 00:10:25.130 --> 00:10:25.140 align:start position:0% exit the position or something in the 00:10:25.140 --> 00:10:27.470 align:start position:0% exit the position or something in the that<00:10:25.620> is<00:10:25.860> problematic<00:10:26.459> but<00:10:26.760> always<00:10:27.000> you<00:10:27.360> can 00:10:27.470 --> 00:10:27.480 align:start position:0% that is problematic but always you can 00:10:27.480 --> 00:10:29.150 align:start position:0% that is problematic but always you can pay<00:10:27.600> for<00:10:27.839> the<00:10:27.959> instant<00:10:28.200> settlement 00:10:29.150 --> 00:10:29.160 align:start position:0% pay for the instant settlement 00:10:29.160 --> 00:10:31.790 align:start position:0% pay for the instant settlement then<00:10:29.700> there<00:10:29.880> is<00:10:30.000> the<00:10:30.120> limitation<00:10:30.660> by<00:10:31.620> the 00:10:31.790 --> 00:10:31.800 align:start position:0% then there is the limitation by the 00:10:31.800 --> 00:10:33.290 align:start position:0% then there is the limitation by the amount<00:10:32.040> of<00:10:32.160> data<00:10:32.399> which<00:10:32.519> can<00:10:32.700> be<00:10:32.820> on<00:10:32.880> the<00:10:33.060> input 00:10:33.290 --> 00:10:33.300 align:start position:0% amount of data which can be on the input 00:10:33.300 --> 00:10:35.449 align:start position:0% amount of data which can be on the input like<00:10:34.019> most<00:10:34.200> of<00:10:34.380> the<00:10:34.440> time<00:10:34.620> this<00:10:34.920> works<00:10:35.279> quite 00:10:35.449 --> 00:10:35.459 align:start position:0% like most of the time this works quite 00:10:35.459 --> 00:10:37.370 align:start position:0% like most of the time this works quite fine<00:10:35.580> because<00:10:35.880> it's<00:10:36.120> 64<00:10:36.540> bits<00:10:36.839> of<00:10:36.959> data<00:10:37.260> and 00:10:37.370 --> 00:10:37.380 align:start position:0% fine because it's 64 bits of data and 00:10:37.380 --> 00:10:39.290 align:start position:0% fine because it's 64 bits of data and with<00:10:37.560> like<00:10:37.740> a<00:10:37.920> bit<00:10:38.040> of<00:10:38.160> smart<00:10:38.339> encoding<00:10:38.880> we<00:10:39.060> can 00:10:39.290 --> 00:10:39.300 align:start position:0% with like a bit of smart encoding we can 00:10:39.300 --> 00:10:40.850 align:start position:0% with like a bit of smart encoding we can actually<00:10:39.480> put<00:10:39.720> a<00:10:39.899> lot<00:10:39.959> of<00:10:40.080> information<00:10:40.260> there 00:10:40.850 --> 00:10:40.860 align:start position:0% actually put a lot of information there 00:10:40.860 --> 00:10:43.130 align:start position:0% actually put a lot of information there but<00:10:41.519> it<00:10:41.760> can<00:10:41.880> be<00:10:42.000> problematic<00:10:42.600> when<00:10:42.779> we<00:10:42.959> for 00:10:43.130 --> 00:10:43.140 align:start position:0% but it can be problematic when we for 00:10:43.140 --> 00:10:44.930 align:start position:0% but it can be problematic when we for example<00:10:43.320> want<00:10:43.620> to<00:10:43.740> pass<00:10:44.040> in<00:10:44.279> ethereum<00:10:44.760> address 00:10:44.930 --> 00:10:44.940 align:start position:0% example want to pass in ethereum address 00:10:44.940 --> 00:10:47.990 align:start position:0% example want to pass in ethereum address because<00:10:45.300> that<00:10:45.480> is<00:10:45.660> 160<00:10:46.500> bits 00:10:47.990 --> 00:10:48.000 align:start position:0% because that is 160 bits 00:10:48.000 --> 00:10:50.810 align:start position:0% because that is 160 bits then<00:10:48.480> another<00:10:48.660> limitation<00:10:49.260> might<00:10:49.620> be<00:10:49.820> that 00:10:50.810 --> 00:10:50.820 align:start position:0% then another limitation might be that 00:10:50.820 --> 00:10:52.370 align:start position:0% then another limitation might be that the<00:10:51.180> system<00:10:51.360> doesn't<00:10:51.660> work<00:10:51.839> that<00:10:52.079> well<00:10:52.200> with 00:10:52.370 --> 00:10:52.380 align:start position:0% the system doesn't work that well with 00:10:52.380 --> 00:10:54.590 align:start position:0% the system doesn't work that well with esoteric<00:10:52.980> tokens<00:10:53.339> because<00:10:53.579> those<00:10:53.940> esoteric 00:10:54.590 --> 00:10:54.600 align:start position:0% esoteric tokens because those esoteric 00:10:54.600 --> 00:10:56.509 align:start position:0% esoteric tokens because those esoteric tokens<00:10:54.899> might<00:10:55.200> have<00:10:55.380> insufficient<00:10:56.040> anonymity 00:10:56.509 --> 00:10:56.519 align:start position:0% tokens might have insufficient anonymity 00:10:56.519 --> 00:10:58.850 align:start position:0% tokens might have insufficient anonymity sets<00:10:57.000> and<00:10:57.720> basically<00:10:58.019> what<00:10:58.200> that<00:10:58.380> means<00:10:58.620> is 00:10:58.850 --> 00:10:58.860 align:start position:0% sets and basically what that means is 00:10:58.860 --> 00:11:01.250 align:start position:0% sets and basically what that means is that<00:10:59.100> there<00:10:59.279> is<00:10:59.459> unlike<00:10:59.820> one<00:11:00.240> esoteric<00:11:00.839> token 00:11:01.250 --> 00:11:01.260 align:start position:0% that there is unlike one esoteric token 00:11:01.260 --> 00:11:04.069 align:start position:0% that there is unlike one esoteric token you<00:11:01.980> user<00:11:02.519> and<00:11:02.640> he<00:11:02.820> would<00:11:02.940> deposit<00:11:03.300> into<00:11:03.480> Aztec 00:11:04.069 --> 00:11:04.079 align:start position:0% you user and he would deposit into Aztec 00:11:04.079 --> 00:11:06.650 align:start position:0% you user and he would deposit into Aztec and<00:11:04.260> he<00:11:04.380> would<00:11:04.560> be<00:11:04.680> the<00:11:04.860> only<00:11:04.980> one<00:11:05.220> like 00:11:06.650 --> 00:11:06.660 align:start position:0% and he would be the only one like 00:11:06.660 --> 00:11:09.050 align:start position:0% and he would be the only one like working<00:11:07.260> with<00:11:07.620> the<00:11:07.800> D5<00:11:08.100> protocols<00:11:08.880> it<00:11:08.940> would 00:11:09.050 --> 00:11:09.060 align:start position:0% working with the D5 protocols it would 00:11:09.060 --> 00:11:11.090 align:start position:0% working with the D5 protocols it would be<00:11:09.180> pretty<00:11:09.360> obvious<00:11:09.720> that<00:11:09.839> is<00:11:09.959> that<00:11:10.140> one<00:11:10.320> user 00:11:11.090 --> 00:11:11.100 align:start position:0% be pretty obvious that is that one user 00:11:11.100 --> 00:11:13.310 align:start position:0% be pretty obvious that is that one user but<00:11:11.640> in<00:11:12.180> practice<00:11:12.360> I<00:11:12.660> think<00:11:12.779> this<00:11:12.899> is<00:11:13.079> not<00:11:13.200> that 00:11:13.310 --> 00:11:13.320 align:start position:0% but in practice I think this is not that 00:11:13.320 --> 00:11:15.829 align:start position:0% but in practice I think this is not that big<00:11:13.440> of<00:11:13.620> a<00:11:13.740> deal<00:11:13.920> because<00:11:14.339> usually<00:11:15.120> users<00:11:15.600> want 00:11:15.829 --> 00:11:15.839 align:start position:0% big of a deal because usually users want 00:11:15.839 --> 00:11:18.410 align:start position:0% big of a deal because usually users want to<00:11:15.959> use<00:11:16.140> the<00:11:16.320> high<00:11:16.500> liquid<00:11:16.860> tokens<00:11:17.279> and<00:11:18.060> I 00:11:18.410 --> 00:11:18.420 align:start position:0% to use the high liquid tokens and I 00:11:18.420 --> 00:11:20.269 align:start position:0% to use the high liquid tokens and I don't<00:11:18.540> feel<00:11:18.839> personally<00:11:19.320> that<00:11:19.620> is<00:11:19.800> such<00:11:20.040> a<00:11:20.160> big 00:11:20.269 --> 00:11:20.279 align:start position:0% don't feel personally that is such a big 00:11:20.279 --> 00:11:21.829 align:start position:0% don't feel personally that is such a big limitation 00:11:21.829 --> 00:11:21.839 align:start position:0% limitation 00:11:21.839 --> 00:11:24.050 align:start position:0% limitation then<00:11:22.320> another<00:11:22.560> limitation<00:11:23.220> might<00:11:23.519> be<00:11:23.700> that 00:11:24.050 --> 00:11:24.060 align:start position:0% then another limitation might be that 00:11:24.060 --> 00:11:25.970 align:start position:0% then another limitation might be that some<00:11:24.360> Protocols<00:11:24.899> are<00:11:25.079> specifically<00:11:25.560> designed 00:11:25.970 --> 00:11:25.980 align:start position:0% some Protocols are specifically designed 00:11:25.980 --> 00:11:28.610 align:start position:0% some Protocols are specifically designed to<00:11:26.160> work<00:11:26.339> with<00:11:26.519> message<00:11:26.700> sender<00:11:27.779> so<00:11:28.320> for 00:11:28.610 --> 00:11:28.620 align:start position:0% to work with message sender so for 00:11:28.620 --> 00:11:31.250 align:start position:0% to work with message sender so for example<00:11:28.940> when<00:11:29.940> when<00:11:30.180> those<00:11:30.420> protocols<00:11:31.079> just 00:11:31.250 --> 00:11:31.260 align:start position:0% example when when those protocols just 00:11:31.260 --> 00:11:33.110 align:start position:0% example when when those protocols just work<00:11:31.440> with<00:11:31.620> tokens<00:11:32.100> you<00:11:32.459> can<00:11:32.519> imagine<00:11:32.700> that 00:11:33.110 --> 00:11:33.120 align:start position:0% work with tokens you can imagine that 00:11:33.120 --> 00:11:34.850 align:start position:0% work with tokens you can imagine that there's<00:11:33.300> like<00:11:33.540> token<00:11:34.200> on<00:11:34.320> the<00:11:34.440> input<00:11:34.680> and 00:11:34.850 --> 00:11:34.860 align:start position:0% there's like token on the input and 00:11:34.860 --> 00:11:37.250 align:start position:0% there's like token on the input and token<00:11:35.160> on<00:11:35.339> the<00:11:35.519> output<00:11:35.820> which<00:11:36.660> is<00:11:36.779> for<00:11:37.019> example 00:11:37.250 --> 00:11:37.260 align:start position:0% token on the output which is for example 00:11:37.260 --> 00:11:40.130 align:start position:0% token on the output which is for example the<00:11:37.500> case<00:11:37.680> of<00:11:37.920> Lido<00:11:38.399> like<00:11:39.360> this<00:11:39.779> works 00:11:40.130 --> 00:11:40.140 align:start position:0% the case of Lido like this works 00:11:40.140 --> 00:11:42.590 align:start position:0% the case of Lido like this works perfectly<00:11:40.500> because<00:11:40.800> there<00:11:41.579> is<00:11:41.760> no<00:11:41.880> limitation 00:11:42.590 --> 00:11:42.600 align:start position:0% perfectly because there is no limitation 00:11:42.600 --> 00:11:44.870 align:start position:0% perfectly because there is no limitation we<00:11:43.500> just<00:11:43.740> have<00:11:43.860> tokens<00:11:44.279> on<00:11:44.399> the<00:11:44.519> input<00:11:44.760> and 00:11:44.870 --> 00:11:44.880 align:start position:0% we just have tokens on the input and 00:11:44.880 --> 00:11:46.910 align:start position:0% we just have tokens on the input and then<00:11:45.060> we<00:11:45.180> distribute<00:11:45.600> the<00:11:45.779> results 00:11:46.910 --> 00:11:46.920 align:start position:0% then we distribute the results 00:11:46.920 --> 00:11:49.130 align:start position:0% then we distribute the results but<00:11:47.459> when<00:11:47.700> the<00:11:47.880> protocols<00:11:48.420> work<00:11:48.600> specifically 00:11:49.130 --> 00:11:49.140 align:start position:0% but when the protocols work specifically 00:11:49.140 --> 00:11:51.590 align:start position:0% but when the protocols work specifically with<00:11:49.320> message<00:11:49.560> sender<00:11:50.700> which<00:11:51.180> can<00:11:51.420> for 00:11:51.590 --> 00:11:51.600 align:start position:0% with message sender which can for 00:11:51.600 --> 00:11:54.490 align:start position:0% with message sender which can for example<00:11:52.040> can<00:11:53.040> be<00:11:53.220> when<00:11:53.519> we<00:11:53.820> are<00:11:53.940> borrowing 00:11:54.490 --> 00:11:54.500 align:start position:0% example can be when we are borrowing 00:11:54.500 --> 00:11:56.870 align:start position:0% example can be when we are borrowing LUSD<00:11:55.500> from<00:11:55.680> liquite 00:11:56.870 --> 00:11:56.880 align:start position:0% LUSD from liquite 00:11:56.880 --> 00:11:59.630 align:start position:0% LUSD from liquite oh<00:11:57.660> it's<00:11:58.560> pretty 00:11:59.630 --> 00:11:59.640 align:start position:0% oh it's pretty 00:11:59.640 --> 00:12:02.269 align:start position:0% oh it's pretty complicated<00:12:00.540> to<00:12:00.839> do<00:12:00.959> the<00:12:01.140> implementation<00:12:01.680> and 00:12:02.269 --> 00:12:02.279 align:start position:0% complicated to do the implementation and 00:12:02.279 --> 00:12:04.490 align:start position:0% complicated to do the implementation and how<00:12:02.459> we've<00:12:02.700> solved<00:12:03.000> it<00:12:03.120> is<00:12:03.300> that<00:12:04.019> we<00:12:04.200> deploy 00:12:04.490 --> 00:12:04.500 align:start position:0% how we've solved it is that we deploy 00:12:04.500 --> 00:12:06.650 align:start position:0% how we've solved it is that we deploy these<00:12:04.800> multiple<00:12:05.100> Bridges<00:12:05.579> and<00:12:06.240> each<00:12:06.360> of<00:12:06.540> the 00:12:06.650 --> 00:12:06.660 align:start position:0% these multiple Bridges and each of the 00:12:06.660 --> 00:12:10.190 align:start position:0% these multiple Bridges and each of the bridge<00:12:06.839> has<00:12:07.260> fixed<00:12:07.800> collateral<00:12:08.220> issue 00:12:10.190 --> 00:12:10.200 align:start position:0% bridge has fixed collateral issue 00:12:10.200 --> 00:12:13.430 align:start position:0% bridge has fixed collateral issue and<00:12:10.920> like<00:12:11.640> if<00:12:11.940> the<00:12:12.120> bridge<00:12:12.300> was<00:12:12.660> like<00:12:12.899> close<00:12:13.200> to 00:12:13.430 --> 00:12:13.440 align:start position:0% and like if the bridge was like close to 00:12:13.440 --> 00:12:15.650 align:start position:0% and like if the bridge was like close to being<00:12:13.620> liquidated<00:12:14.339> user<00:12:15.120> can't<00:12:15.300> add<00:12:15.480> more 00:12:15.650 --> 00:12:15.660 align:start position:0% being liquidated user can't add more 00:12:15.660 --> 00:12:17.690 align:start position:0% being liquidated user can't add more collateral<00:12:16.140> but<00:12:16.380> the<00:12:16.560> user<00:12:16.860> can<00:12:17.040> always<00:12:17.220> repay 00:12:17.690 --> 00:12:17.700 align:start position:0% collateral but the user can always repay 00:12:17.700 --> 00:12:19.850 align:start position:0% collateral but the user can always repay the<00:12:17.820> depth<00:12:18.120> and<00:12:18.180> exit<00:12:18.899> so<00:12:19.260> even<00:12:19.440> though<00:12:19.620> there 00:12:19.850 --> 00:12:19.860 align:start position:0% the depth and exit so even though there 00:12:19.860 --> 00:12:21.410 align:start position:0% the depth and exit so even though there are<00:12:19.980> limitations<00:12:20.339> usually<00:12:20.820> there<00:12:21.060> is<00:12:21.240> like 00:12:21.410 --> 00:12:21.420 align:start position:0% are limitations usually there is like 00:12:21.420 --> 00:12:24.710 align:start position:0% are limitations usually there is like some<00:12:21.660> way<00:12:21.839> how<00:12:22.200> to<00:12:22.380> work<00:12:22.560> around<00:12:22.800> them 00:12:24.710 --> 00:12:24.720 align:start position:0% some way how to work around them 00:12:24.720 --> 00:12:26.210 align:start position:0% some way how to work around them now<00:12:25.320> I<00:12:25.500> would<00:12:25.620> like<00:12:25.740> to<00:12:25.920> talk<00:12:26.100> about 00:12:26.210 --> 00:12:26.220 align:start position:0% now I would like to talk about 00:12:26.220 --> 00:12:28.310 align:start position:0% now I would like to talk about advantages<00:12:26.880> and<00:12:27.360> I<00:12:27.600> think<00:12:27.720> those<00:12:27.899> advantages 00:12:28.310 --> 00:12:28.320 align:start position:0% advantages and I think those advantages 00:12:28.320 --> 00:12:31.009 align:start position:0% advantages and I think those advantages are<00:12:28.620> pretty<00:12:28.800> huge<00:12:29.220> because<00:12:30.060> Aztec<00:12:30.899> connect 00:12:31.009 --> 00:12:31.019 align:start position:0% are pretty huge because Aztec connect 00:12:31.019 --> 00:12:33.410 align:start position:0% are pretty huge because Aztec connect doesn't<00:12:31.440> need<00:12:31.860> redeployment<00:12:32.700> of<00:12:33.060> smart 00:12:33.410 --> 00:12:33.420 align:start position:0% doesn't need redeployment of smart 00:12:33.420 --> 00:12:36.769 align:start position:0% doesn't need redeployment of smart contracts<00:12:34.140> on<00:12:35.040> L2<00:12:35.519> because<00:12:35.880> we<00:12:36.180> work<00:12:36.360> directly 00:12:36.769 --> 00:12:36.779 align:start position:0% contracts on L2 because we work directly 00:12:36.779 --> 00:12:38.750 align:start position:0% contracts on L2 because we work directly with<00:12:36.959> smart<00:12:37.200> contracts<00:12:37.680> on<00:12:37.800> L1 00:12:38.750 --> 00:12:38.760 align:start position:0% with smart contracts on L1 00:12:38.760 --> 00:12:40.430 align:start position:0% with smart contracts on L1 and<00:12:39.360> this<00:12:39.540> means<00:12:39.779> that<00:12:39.959> for<00:12:40.200> example 00:12:40.430 --> 00:12:40.440 align:start position:0% and this means that for example 00:12:40.440 --> 00:12:43.250 align:start position:0% and this means that for example liquidity<00:12:40.980> is<00:12:41.220> not<00:12:41.399> fractured<00:12:42.360> and<00:12:42.839> I<00:12:42.959> did<00:12:43.079> my 00:12:43.250 --> 00:12:43.260 align:start position:0% liquidity is not fractured and I did my 00:12:43.260 --> 00:12:44.930 align:start position:0% liquidity is not fractured and I did my own<00:12:43.440> personal<00:12:43.620> experiment<00:12:44.220> when<00:12:44.519> it<00:12:44.639> was<00:12:44.760> blue 00:12:44.930 --> 00:12:44.940 align:start position:0% own personal experiment when it was blue 00:12:44.940 --> 00:12:47.690 align:start position:0% own personal experiment when it was blue market<00:12:45.240> and<00:12:46.019> I<00:12:46.139> checked<00:12:46.440> like<00:12:46.560> how<00:12:47.160> much<00:12:47.459> it 00:12:47.690 --> 00:12:47.700 align:start position:0% market and I checked like how much it 00:12:47.700 --> 00:12:50.030 align:start position:0% market and I checked like how much it makes<00:12:47.880> sense<00:12:48.180> to<00:12:48.480> do<00:12:48.600> for<00:12:48.779> example<00:12:49.079> swept<00:12:49.680> on 00:12:50.030 --> 00:12:50.040 align:start position:0% makes sense to do for example swept on 00:12:50.040 --> 00:12:52.730 align:start position:0% makes sense to do for example swept on L2<00:12:50.519> and<00:12:51.360> it<00:12:51.480> turned<00:12:51.779> out<00:12:51.839> that<00:12:52.079> for<00:12:52.320> not<00:12:52.560> so 00:12:52.730 --> 00:12:52.740 align:start position:0% L2 and it turned out that for not so 00:12:52.740 --> 00:12:54.470 align:start position:0% L2 and it turned out that for not so large<00:12:52.920> amounts<00:12:53.339> like<00:12:53.519> over<00:12:53.760> five<00:12:54.120> thousand 00:12:54.470 --> 00:12:54.480 align:start position:0% large amounts like over five thousand 00:12:54.480 --> 00:12:56.870 align:start position:0% large amounts like over five thousand dollars<00:12:54.779> even<00:12:55.019> with<00:12:55.260> the<00:12:55.440> high<00:12:55.620> gas<00:12:55.800> fees<00:12:56.220> it 00:12:56.870 --> 00:12:56.880 align:start position:0% dollars even with the high gas fees it 00:12:56.880 --> 00:12:59.629 align:start position:0% dollars even with the high gas fees it still<00:12:57.060> made<00:12:57.240> sense<00:12:57.480> to<00:12:57.660> use<00:12:57.779> ethereum<00:12:58.260> L1 00:12:59.629 --> 00:12:59.639 align:start position:0% still made sense to use ethereum L1 00:12:59.639 --> 00:13:01.370 align:start position:0% still made sense to use ethereum L1 and<00:13:00.060> that<00:13:00.180> is<00:13:00.300> because<00:13:00.480> the<00:13:00.720> liquidity<00:13:01.139> was 00:13:01.370 --> 00:13:01.380 align:start position:0% and that is because the liquidity was 00:13:01.380 --> 00:13:04.009 align:start position:0% and that is because the liquidity was just<00:13:01.560> so<00:13:01.800> much<00:13:01.920> higher<00:13:02.399> so<00:13:03.240> the<00:13:03.660> slippage 00:13:04.009 --> 00:13:04.019 align:start position:0% just so much higher so the slippage 00:13:04.019 --> 00:13:06.710 align:start position:0% just so much higher so the slippage would<00:13:04.260> be<00:13:04.440> just<00:13:04.740> so<00:13:05.100> much<00:13:05.279> slower<00:13:05.639> that<00:13:05.940> like 00:13:06.710 --> 00:13:06.720 align:start position:0% would be just so much slower that like 00:13:06.720 --> 00:13:09.110 align:start position:0% would be just so much slower that like the<00:13:07.139> piece<00:13:07.560> would<00:13:07.740> be<00:13:07.860> worth<00:13:08.040> it 00:13:09.110 --> 00:13:09.120 align:start position:0% the piece would be worth it 00:13:09.120 --> 00:13:12.170 align:start position:0% the piece would be worth it and<00:13:09.899> another<00:13:10.500> Advantage<00:13:11.160> is<00:13:11.459> a<00:13:11.639> lower<00:13:11.820> risk 00:13:12.170 --> 00:13:12.180 align:start position:0% and another Advantage is a lower risk 00:13:12.180 --> 00:13:14.870 align:start position:0% and another Advantage is a lower risk for<00:13:12.360> integrated<00:13:12.839> protocols<00:13:14.040> and<00:13:14.519> that<00:13:14.700> is 00:13:14.870 --> 00:13:14.880 align:start position:0% for integrated protocols and that is 00:13:14.880 --> 00:13:16.370 align:start position:0% for integrated protocols and that is since<00:13:15.000> we<00:13:15.240> don't<00:13:15.360> need<00:13:15.540> to<00:13:15.720> the<00:13:16.139> Target 00:13:16.370 --> 00:13:16.380 align:start position:0% since we don't need to the Target 00:13:16.380 --> 00:13:18.410 align:start position:0% since we don't need to the Target protocols<00:13:17.160> don't<00:13:17.339> need<00:13:17.459> to<00:13:17.579> like<00:13:17.700> redeploy 00:13:18.410 --> 00:13:18.420 align:start position:0% protocols don't need to like redeploy 00:13:18.420 --> 00:13:20.090 align:start position:0% protocols don't need to like redeploy again<00:13:18.720> on 00:13:20.090 --> 00:13:20.100 align:start position:0% again on 00:13:20.100 --> 00:13:22.850 align:start position:0% again on on<00:13:20.459> our<00:13:20.760> L2 00:13:22.850 --> 00:13:22.860 align:start position:0% on our L2 00:13:22.860 --> 00:13:25.069 align:start position:0% on our L2 uh<00:13:23.459> there<00:13:23.639> is<00:13:23.760> no<00:13:23.820> risk<00:13:24.180> for<00:13:24.300> them<00:13:24.480> like<00:13:24.899> for 00:13:25.069 --> 00:13:25.079 align:start position:0% uh there is no risk for them like for 00:13:25.079 --> 00:13:28.670 align:start position:0% uh there is no risk for them like for example<00:13:25.260> the<00:13:25.500> risk<00:13:25.740> of<00:13:25.860> fracturing<00:13:26.339> liquidity 00:13:28.670 --> 00:13:28.680 align:start position:0% example the risk of fracturing liquidity 00:13:28.680 --> 00:13:30.710 align:start position:0% example the risk of fracturing liquidity then<00:13:29.040> I<00:13:29.279> would<00:13:29.399> like<00:13:29.519> to<00:13:29.880> mention<00:13:30.180> that<00:13:30.480> there 00:13:30.710 --> 00:13:30.720 align:start position:0% then I would like to mention that there 00:13:30.720 --> 00:13:33.170 align:start position:0% then I would like to mention that there was<00:13:30.899> of<00:13:31.079> course<00:13:31.200> 95<00:13:31.740> cases<00:13:32.339> but<00:13:32.579> the<00:13:32.820> fire<00:13:33.060> is 00:13:33.170 --> 00:13:33.180 align:start position:0% was of course 95 cases but the fire is 00:13:33.180 --> 00:13:34.790 align:start position:0% was of course 95 cases but the fire is like<00:13:33.360> a<00:13:33.480> nice<00:13:33.600> password<00:13:33.839> so<00:13:34.200> we<00:13:34.380> mentioned<00:13:34.620> it 00:13:34.790 --> 00:13:34.800 align:start position:0% like a nice password so we mentioned it 00:13:34.800 --> 00:13:38.030 align:start position:0% like a nice password so we mentioned it here<00:13:35.459> and<00:13:36.300> I<00:13:37.079> think<00:13:37.139> very<00:13:37.380> cool<00:13:37.620> use<00:13:37.860> case 00:13:38.030 --> 00:13:38.040 align:start position:0% here and I think very cool use case 00:13:38.040 --> 00:13:40.129 align:start position:0% here and I think very cool use case could<00:13:38.279> be<00:13:38.459> private<00:13:38.880> doll<00:13:39.060> voting<00:13:39.540> and<00:13:39.899> that<00:13:40.019> is 00:13:40.129 --> 00:13:40.139 align:start position:0% could be private doll voting and that is 00:13:40.139 --> 00:13:41.750 align:start position:0% could be private doll voting and that is because<00:13:40.320> in<00:13:40.680> all<00:13:40.860> the<00:13:40.980> voting<00:13:41.339> systems 00:13:41.750 --> 00:13:41.760 align:start position:0% because in all the voting systems 00:13:41.760 --> 00:13:44.269 align:start position:0% because in all the voting systems privacy<00:13:42.240> is<00:13:42.420> very<00:13:42.660> important<00:13:43.079> and<00:13:44.040> another 00:13:44.269 --> 00:13:44.279 align:start position:0% privacy is very important and another 00:13:44.279 --> 00:13:46.129 align:start position:0% privacy is very important and another interesting<00:13:44.820> use<00:13:45.060> case<00:13:45.300> might<00:13:45.540> be<00:13:45.660> nft 00:13:46.129 --> 00:13:46.139 align:start position:0% interesting use case might be nft 00:13:46.139 --> 00:13:47.810 align:start position:0% interesting use case might be nft mending 00:13:47.810 --> 00:13:47.820 align:start position:0% mending 00:13:47.820 --> 00:13:50.860 align:start position:0% mending yeah<00:13:48.360> thank<00:13:48.660> you<00:13:48.779> for<00:13:48.839> the<00:13:49.019> attention 00:13:50.860 --> 00:13:50.870 align:start position:0% yeah thank you for the attention 00:13:50.870 --> 00:13:54.949 align:start position:0% yeah thank you for the attention [Applause] 00:13:54.949 --> 00:13:54.959 align:start position:0% [Applause] 00:13:54.959 --> 00:13:56.690 align:start position:0% [Applause] thank<00:13:55.440> you<00:13:55.560> John<00:13:55.740> we<00:13:56.160> still<00:13:56.279> have<00:13:56.399> questions 00:13:56.690 --> 00:13:56.700 align:start position:0% thank you John we still have questions 00:13:56.700 --> 00:13:59.030 align:start position:0% thank you John we still have questions time<00:13:57.180> for<00:13:57.360> questions<00:13:57.600> so<00:13:57.959> here<00:13:58.260> to<00:13:58.680> the<00:13:58.920> right 00:13:59.030 --> 00:13:59.040 align:start position:0% time for questions so here to the right 00:13:59.040 --> 00:14:07.190 align:start position:0% time for questions so here to the right Nicole 00:14:07.190 --> 00:14:07.200 align:start position:0% 00:14:07.200 --> 00:14:09.769 align:start position:0% ah<00:14:07.800> yeah<00:14:07.980> I<00:14:08.220> can<00:14:08.339> I<00:14:08.639> can<00:14:08.760> put<00:14:08.940> that<00:14:09.120> I<00:14:09.540> can<00:14:09.660> let 00:14:09.769 --> 00:14:09.779 align:start position:0% ah yeah I can I can put that I can let 00:14:09.779 --> 00:14:11.150 align:start position:0% ah yeah I can I can put that I can let you<00:14:09.959> know<00:14:10.019> but<00:14:10.440> I<00:14:10.620> must<00:14:10.680> put<00:14:10.860> it<00:14:10.980> allow 00:14:11.150 --> 00:14:11.160 align:start position:0% you know but I must put it allow 00:14:11.160 --> 00:14:14.870 align:start position:0% you know but I must put it allow ultimate<00:14:11.399> light<00:14:11.639> before<00:14:11.820> the<00:14:12.360> presentation 00:14:14.870 --> 00:14:14.880 align:start position:0% 00:14:14.880 --> 00:14:16.250 align:start position:0% yeah 00:14:16.250 --> 00:14:16.260 align:start position:0% yeah 00:14:16.260 --> 00:14:18.530 align:start position:0% yeah um<00:14:16.320> just<00:14:16.680> a<00:14:16.800> quick<00:14:16.920> question<00:14:17.160> uh<00:14:18.000> how 00:14:18.530 --> 00:14:18.540 align:start position:0% um just a quick question uh how 00:14:18.540 --> 00:14:21.290 align:start position:0% um just a quick question uh how expensive<00:14:19.139> is<00:14:19.380> here<00:14:19.920> here<00:14:19.980> sorry<00:14:20.820> yeah<00:14:21.120> you're 00:14:21.290 --> 00:14:21.300 align:start position:0% expensive is here here sorry yeah you're 00:14:21.300 --> 00:14:24.110 align:start position:0% expensive is here here sorry yeah you're looking<00:14:21.540> for<00:14:21.720> me<00:14:21.839> how<00:14:22.620> expensive<00:14:23.220> is<00:14:23.459> each 00:14:24.110 --> 00:14:24.120 align:start position:0% looking for me how expensive is each 00:14:24.120 --> 00:14:25.910 align:start position:0% looking for me how expensive is each operation<00:14:24.540> because<00:14:24.899> it<00:14:25.320> seems<00:14:25.620> like<00:14:25.680> you<00:14:25.800> are 00:14:25.910 --> 00:14:25.920 align:start position:0% operation because it seems like you are 00:14:25.920 --> 00:14:27.470 align:start position:0% operation because it seems like you are doing<00:14:26.100> complicated<00:14:26.459> cryptography<00:14:27.360> and 00:14:27.470 --> 00:14:27.480 align:start position:0% doing complicated cryptography and 00:14:27.480 --> 00:14:29.389 align:start position:0% doing complicated cryptography and solidity 00:14:29.389 --> 00:14:29.399 align:start position:0% solidity 00:14:29.399 --> 00:14:32.930 align:start position:0% solidity uh<00:14:30.240> so<00:14:30.720> on<00:14:31.079> on<00:14:31.260> ethereum<00:14:31.680> L1<00:14:31.980> it<00:14:32.220> was<00:14:32.399> like<00:14:32.760> the 00:14:32.930 --> 00:14:32.940 align:start position:0% uh so on on ethereum L1 it was like the 00:14:32.940 --> 00:14:34.430 align:start position:0% uh so on on ethereum L1 it was like the same<00:14:33.120> as<00:14:33.360> I<00:14:33.600> mentioned<00:14:33.839> before<00:14:34.019> like<00:14:34.320> the 00:14:34.430 --> 00:14:34.440 align:start position:0% same as I mentioned before like the 00:14:34.440 --> 00:14:36.110 align:start position:0% same as I mentioned before like the color<00:14:34.620> itself<00:14:35.160> and<00:14:35.459> then<00:14:35.579> there<00:14:35.700> is<00:14:35.880> the<00:14:36.000> cost 00:14:36.110 --> 00:14:36.120 align:start position:0% color itself and then there is the cost 00:14:36.120 --> 00:14:38.990 align:start position:0% color itself and then there is the cost of<00:14:36.300> call<00:14:36.480> data<00:14:36.839> and<00:14:36.959> processing<00:14:37.320> the<00:14:37.500> roll<00:14:37.680> up 00:14:38.990 --> 00:14:39.000 align:start position:0% of call data and processing the roll up 00:14:39.000 --> 00:14:42.290 align:start position:0% of call data and processing the roll up uh<00:14:39.899> so<00:14:40.260> is<00:14:40.500> does<00:14:40.800> it<00:14:40.980> answer<00:14:41.279> the<00:14:41.699> question 00:14:42.290 --> 00:14:42.300 align:start position:0% uh so is does it answer the question 00:14:42.300 --> 00:14:44.210 align:start position:0% uh so is does it answer the question like<00:14:42.959> I<00:14:43.139> I<00:14:43.380> have<00:14:43.500> to<00:14:43.620> admit<00:14:43.860> I'm<00:14:43.980> not<00:14:44.100> a 00:14:44.210 --> 00:14:44.220 align:start position:0% like I I have to admit I'm not a 00:14:44.220 --> 00:14:45.590 align:start position:0% like I I have to admit I'm not a cryptographer<00:14:44.699> I'm<00:14:44.820> just<00:14:44.940> like<00:14:45.120> a<00:14:45.300> basic 00:14:45.590 --> 00:14:45.600 align:start position:0% cryptographer I'm just like a basic 00:14:45.600 --> 00:14:49.430 align:start position:0% cryptographer I'm just like a basic solidity<00:14:46.019> engineer<00:14:46.440> well<00:14:47.339> as<00:14:47.579> well<00:14:47.760> so<00:14:48.060> yeah 00:14:49.430 --> 00:14:49.440 align:start position:0% solidity engineer well as well so yeah 00:14:49.440 --> 00:14:51.230 align:start position:0% solidity engineer well as well so yeah um<00:14:49.620> so<00:14:50.040> it's<00:14:50.220> not<00:14:50.339> very<00:14:50.459> expensive<00:14:50.760> a<00:14:51.060> second 00:14:51.230 --> 00:14:51.240 align:start position:0% um so it's not very expensive a second 00:14:51.240 --> 00:14:54.050 align:start position:0% um so it's not very expensive a second can<00:14:51.839> this<00:14:52.079> work<00:14:52.380> on<00:14:52.620> on<00:14:52.980> alternative<00:14:53.459> chains 00:14:54.050 --> 00:14:54.060 align:start position:0% can this work on on alternative chains 00:14:54.060 --> 00:14:57.050 align:start position:0% can this work on on alternative chains like<00:14:54.360> uh<00:14:54.959> like<00:14:55.320> other<00:14:55.560> in<00:14:55.800> other<00:14:56.220> l2s<00:14:56.820> like 00:14:57.050 --> 00:14:57.060 align:start position:0% like uh like other in other l2s like 00:14:57.060 --> 00:15:00.470 align:start position:0% like uh like other in other l2s like having<00:14:57.240> when<00:14:57.600> it<00:14:57.839> has<00:14:57.959> taken<00:14:58.740> okay<00:14:59.279> so<00:14:59.760> our 00:15:00.470 --> 00:15:00.480 align:start position:0% having when it has taken okay so our 00:15:00.480 --> 00:15:03.110 align:start position:0% having when it has taken okay so our contract<00:15:00.959> is<00:15:01.260> implemented<00:15:01.860> in<00:15:02.399> solidity<00:15:02.880> so 00:15:03.110 --> 00:15:03.120 align:start position:0% contract is implemented in solidity so 00:15:03.120 --> 00:15:05.629 align:start position:0% contract is implemented in solidity so we<00:15:03.240> can<00:15:03.360> deploy<00:15:03.600> it<00:15:03.720> to<00:15:03.839> any<00:15:03.959> evm<00:15:04.380> chain<00:15:04.639> and 00:15:05.629 --> 00:15:05.639 align:start position:0% we can deploy it to any evm chain and 00:15:05.639 --> 00:15:07.550 align:start position:0% we can deploy it to any evm chain and like<00:15:05.880> our<00:15:06.060> L2<00:15:06.480> infrastructure<00:15:07.019> just<00:15:07.320> uses 00:15:07.550 --> 00:15:07.560 align:start position:0% like our L2 infrastructure just uses 00:15:07.560 --> 00:15:10.009 align:start position:0% like our L2 infrastructure just uses generic<00:15:07.980> Json<00:15:08.279> RPC<00:15:08.820> so<00:15:09.360> like<00:15:09.540> there<00:15:09.720> is<00:15:09.839> no 00:15:10.009 --> 00:15:10.019 align:start position:0% generic Json RPC so like there is no 00:15:10.019 --> 00:15:11.569 align:start position:0% generic Json RPC so like there is no fundamental<00:15:10.500> issue<00:15:10.800> why<00:15:10.980> that<00:15:11.220> would<00:15:11.339> not<00:15:11.459> be 00:15:11.569 --> 00:15:11.579 align:start position:0% fundamental issue why that would not be 00:15:11.579 --> 00:15:14.030 align:start position:0% fundamental issue why that would not be possible<00:15:11.940> but<00:15:12.600> like<00:15:12.779> an<00:15:13.019> interesting<00:15:13.380> note<00:15:13.560> is 00:15:14.030 --> 00:15:14.040 align:start position:0% possible but like an interesting note is 00:15:14.040 --> 00:15:16.790 align:start position:0% possible but like an interesting note is that<00:15:14.540> it<00:15:15.540> might<00:15:15.720> not<00:15:15.839> make<00:15:16.139> sense<00:15:16.440> because 00:15:16.790 --> 00:15:16.800 align:start position:0% that it might not make sense because 00:15:16.800 --> 00:15:20.210 align:start position:0% that it might not make sense because usually<00:15:17.279> those<00:15:17.639> other<00:15:17.940> l2s<00:15:18.660> have<00:15:19.139> also<00:15:20.040> like 00:15:20.210 --> 00:15:20.220 align:start position:0% usually those other l2s have also like 00:15:20.220 --> 00:15:22.310 align:start position:0% usually those other l2s have also like have<00:15:20.459> to<00:15:20.639> post<00:15:20.820> the<00:15:21.060> call<00:15:21.300> data<00:15:21.720> on<00:15:21.899> ethereum 00:15:22.310 --> 00:15:22.320 align:start position:0% have to post the call data on ethereum 00:15:22.320 --> 00:15:24.590 align:start position:0% have to post the call data on ethereum L1<00:15:22.740> so<00:15:23.459> it<00:15:23.579> means<00:15:23.820> that<00:15:23.880> if<00:15:24.060> you<00:15:24.240> for<00:15:24.360> example 00:15:24.590 --> 00:15:24.600 align:start position:0% L1 so it means that if you for example 00:15:24.600 --> 00:15:26.389 align:start position:0% L1 so it means that if you for example were<00:15:24.839> running<00:15:25.079> over<00:15:25.320> optimism<00:15:25.800> we<00:15:26.160> actually 00:15:26.389 --> 00:15:26.399 align:start position:0% were running over optimism we actually 00:15:26.399 --> 00:15:30.350 align:start position:0% were running over optimism we actually would<00:15:26.639> not<00:15:26.880> save<00:15:27.120> much<00:15:27.540> gas 00:15:30.350 --> 00:15:30.360 align:start position:0% 00:15:30.360 --> 00:15:32.870 align:start position:0% we<00:15:30.899> have<00:15:31.079> one<00:15:31.260> there<00:15:31.560> on<00:15:31.680> the<00:15:31.800> left<00:15:31.920> side<00:15:32.160> then 00:15:32.870 --> 00:15:32.880 align:start position:0% we have one there on the left side then 00:15:32.880 --> 00:15:35.329 align:start position:0% we have one there on the left side then there<00:15:33.540> and<00:15:33.779> then<00:15:33.959> the<00:15:34.139> third<00:15:34.260> one 00:15:35.329 --> 00:15:35.339 align:start position:0% there and then the third one 00:15:35.339 --> 00:15:37.310 align:start position:0% there and then the third one uh<00:15:35.880> thanks<00:15:36.180> for<00:15:36.360> the<00:15:36.480> talk 00:15:37.310 --> 00:15:37.320 align:start position:0% uh thanks for the talk 00:15:37.320 --> 00:15:39.290 align:start position:0% uh thanks for the talk um<00:15:37.380> you<00:15:37.680> mentioned<00:15:37.920> you<00:15:38.160> have<00:15:38.339> over<00:15:38.639> 50<00:15:39.180> 000 00:15:39.290 --> 00:15:39.300 align:start position:0% um you mentioned you have over 50 000 00:15:39.300 --> 00:15:40.370 align:start position:0% um you mentioned you have over 50 000 users 00:15:40.370 --> 00:15:40.380 align:start position:0% users 00:15:40.380 --> 00:15:43.970 align:start position:0% users um on<00:15:40.560> Aztec<00:15:41.040> Network 00:15:43.970 --> 00:15:43.980 align:start position:0% 00:15:43.980 --> 00:15:46.069 align:start position:0% um<00:15:44.100> a<00:15:44.699> couple<00:15:44.940> questions<00:15:45.180> like<00:15:45.480> who<00:15:45.839> has 00:15:46.069 --> 00:15:46.079 align:start position:0% um a couple questions like who has 00:15:46.079 --> 00:15:48.710 align:start position:0% um a couple questions like who has integrated<00:15:46.560> besides<00:15:47.040> Euler 00:15:48.710 --> 00:15:48.720 align:start position:0% integrated besides Euler 00:15:48.720 --> 00:15:49.970 align:start position:0% integrated besides Euler um<00:15:48.779> like<00:15:49.019> who's<00:15:49.139> on<00:15:49.380> the<00:15:49.440> docket<00:15:49.740> and<00:15:49.860> like 00:15:49.970 --> 00:15:49.980 align:start position:0% um like who's on the docket and like 00:15:49.980 --> 00:15:53.389 align:start position:0% um like who's on the docket and like what<00:15:50.040> are<00:15:50.160> those<00:15:50.279> 50<00:15:50.699> 000<00:15:50.820> users<00:15:51.240> using<00:15:51.899> it<00:15:52.019> for 00:15:53.389 --> 00:15:53.399 align:start position:0% what are those 50 000 users using it for 00:15:53.399 --> 00:15:55.069 align:start position:0% what are those 50 000 users using it for currently<00:15:53.940> yeah<00:15:54.120> so<00:15:54.300> we<00:15:54.420> have<00:15:54.540> quite<00:15:54.779> a<00:15:54.959> few 00:15:55.069 --> 00:15:55.079 align:start position:0% currently yeah so we have quite a few 00:15:55.079 --> 00:15:56.930 align:start position:0% currently yeah so we have quite a few Integrations<00:15:55.680> I<00:15:55.980> think<00:15:56.100> the<00:15:56.339> most<00:15:56.459> important 00:15:56.930 --> 00:15:56.940 align:start position:0% Integrations I think the most important 00:15:56.940 --> 00:16:00.710 align:start position:0% Integrations I think the most important are<00:15:57.240> for<00:15:57.480> example<00:15:57.720> Lido<00:15:58.820> Oiler<00:15:59.820> than<00:16:00.360> we<00:16:00.600> have 00:16:00.710 --> 00:16:00.720 align:start position:0% are for example Lido Oiler than we have 00:16:00.720 --> 00:16:02.569 align:start position:0% are for example Lido Oiler than we have for<00:16:00.899> yearn 00:16:02.569 --> 00:16:02.579 align:start position:0% for yearn 00:16:02.579 --> 00:16:05.150 align:start position:0% for yearn um<00:16:02.639> we<00:16:02.940> are<00:16:03.060> working<00:16:03.240> on<00:16:03.480> unisfab<00:16:04.199> click<00:16:05.040> with 00:16:05.150 --> 00:16:05.160 align:start position:0% um we are working on unisfab click with 00:16:05.160 --> 00:16:06.350 align:start position:0% um we are working on unisfab click with the 00:16:06.350 --> 00:16:06.360 align:start position:0% the 00:16:06.360 --> 00:16:08.810 align:start position:0% the yeah<00:16:06.899> we<00:16:07.260> have<00:16:07.500> a<00:16:07.620> grants<00:16:07.920> program<00:16:08.100> where<00:16:08.519> we 00:16:08.810 --> 00:16:08.820 align:start position:0% yeah we have a grants program where we 00:16:08.820 --> 00:16:10.850 align:start position:0% yeah we have a grants program where we basically<00:16:09.300> give<00:16:09.600> some<00:16:09.899> developers<00:16:10.380> money<00:16:10.620> to 00:16:10.850 --> 00:16:10.860 align:start position:0% basically give some developers money to 00:16:10.860 --> 00:16:12.410 align:start position:0% basically give some developers money to build<00:16:10.980> the<00:16:11.160> Integrations 00:16:12.410 --> 00:16:12.420 align:start position:0% build the Integrations 00:16:12.420 --> 00:16:14.689 align:start position:0% build the Integrations and<00:16:13.079> yeah<00:16:13.380> that's<00:16:13.560> it<00:16:13.800> and<00:16:14.339> where<00:16:14.459> are<00:16:14.639> the 00:16:14.689 --> 00:16:14.699 align:start position:0% and yeah that's it and where are the 00:16:14.699 --> 00:16:16.790 align:start position:0% and yeah that's it and where are the users<00:16:14.880> are<00:16:15.000> using<00:16:15.300> it<00:16:15.480> for<00:16:15.660> currently<00:16:16.019> mainly 00:16:16.790 --> 00:16:16.800 align:start position:0% users are using it for currently mainly 00:16:16.800 --> 00:16:19.009 align:start position:0% users are using it for currently mainly uh 00:16:19.009 --> 00:16:19.019 align:start position:0% uh 00:16:19.019 --> 00:16:21.829 align:start position:0% uh I<00:16:19.500> think<00:16:19.680> that<00:16:19.860> like<00:16:20.040> in<00:16:20.279> general<00:16:20.459> the<00:16:20.940> farming 00:16:21.829 --> 00:16:21.839 align:start position:0% I think that like in general the farming 00:16:21.839 --> 00:16:24.410 align:start position:0% I think that like in general the farming worlds<00:16:22.620> are<00:16:22.860> quite<00:16:23.100> popular<00:16:23.339> so<00:16:24.120> we<00:16:24.300> have 00:16:24.410 --> 00:16:24.420 align:start position:0% worlds are quite popular so we have 00:16:24.420 --> 00:16:27.769 align:start position:0% worlds are quite popular so we have quite<00:16:24.600> a<00:16:24.779> few<00:16:24.899> users<00:16:25.320> of<00:16:25.980> Ian<00:16:26.639> and<00:16:27.360> we've<00:16:27.540> also 00:16:27.769 --> 00:16:27.779 align:start position:0% quite a few users of Ian and we've also 00:16:27.779 --> 00:16:30.530 align:start position:0% quite a few users of Ian and we've also built<00:16:28.079> this<00:16:28.139> thing<00:16:28.320> called<00:16:28.560> DCA<00:16:28.980> Bridge<00:16:29.540> which 00:16:30.530 --> 00:16:30.540 align:start position:0% built this thing called DCA Bridge which 00:16:30.540 --> 00:16:34.090 align:start position:0% built this thing called DCA Bridge which allows<00:16:31.199> like<00:16:31.380> users<00:16:31.800> to<00:16:31.980> DCA<00:16:32.459> into<00:16:33.000> eth<00:16:33.480> or<00:16:33.720> die 00:16:34.090 --> 00:16:34.100 align:start position:0% allows like users to DCA into eth or die 00:16:34.100 --> 00:16:37.910 align:start position:0% allows like users to DCA into eth or die and<00:16:35.100> it's<00:16:35.399> also<00:16:35.699> becoming<00:16:36.060> quite<00:16:36.300> popular 00:16:37.910 --> 00:16:37.920 align:start position:0% and it's also becoming quite popular 00:16:37.920 --> 00:16:40.069 align:start position:0% and it's also becoming quite popular pci's<00:16:38.820> dollar<00:16:38.940> cost<00:16:39.180> averaging<00:16:39.720> for<00:16:39.899> those 00:16:40.069 --> 00:16:40.079 align:start position:0% pci's dollar cost averaging for those 00:16:40.079 --> 00:16:45.050 align:start position:0% pci's dollar cost averaging for those two<00:16:40.259> you<00:16:40.500> don't<00:16:40.620> know 00:16:45.050 --> 00:16:45.060 align:start position:0% 00:16:45.060 --> 00:16:48.710 align:start position:0% um<00:16:45.120> I<00:16:45.959> got<00:16:46.320> the<00:16:46.440> mic<00:16:46.560> ready<00:16:46.800> uh<00:16:47.639> so<00:16:48.180> uh<00:16:48.420> one<00:16:48.600> of 00:16:48.710 --> 00:16:48.720 align:start position:0% um I got the mic ready uh so uh one of 00:16:48.720 --> 00:16:50.150 align:start position:0% um I got the mic ready uh so uh one of my<00:16:48.779> my<00:16:49.019> question<00:16:49.259> was<00:16:49.500> around<00:16:49.680> what<00:16:50.040> you're 00:16:50.150 --> 00:16:50.160 align:start position:0% my my question was around what you're 00:16:50.160 --> 00:16:51.410 align:start position:0% my my question was around what you're doing<00:16:50.339> to<00:16:50.639> try<00:16:50.820> to<00:16:50.940> deal<00:16:51.060> with<00:16:51.300> this 00:16:51.410 --> 00:16:51.420 align:start position:0% doing to try to deal with this 00:16:51.420 --> 00:16:53.990 align:start position:0% doing to try to deal with this settlement<00:16:51.839> like<00:16:52.259> waiting<00:16:52.800> times<00:16:52.980> and<00:16:53.339> stuff 00:16:53.990 --> 00:16:54.000 align:start position:0% settlement like waiting times and stuff 00:16:54.000 --> 00:16:55.670 align:start position:0% settlement like waiting times and stuff um<00:16:54.060> and<00:16:54.360> I<00:16:54.540> was<00:16:54.720> wondering<00:16:54.959> if<00:16:55.199> like<00:16:55.380> as<00:16:55.560> you 00:16:55.670 --> 00:16:55.680 align:start position:0% um and I was wondering if like as you 00:16:55.680 --> 00:16:57.590 align:start position:0% um and I was wondering if like as you integrate<00:16:55.980> with<00:16:56.160> other<00:16:56.339> protocols<00:16:57.300> if<00:16:57.420> that's 00:16:57.590 --> 00:16:57.600 align:start position:0% integrate with other protocols if that's 00:16:57.600 --> 00:16:58.790 align:start position:0% integrate with other protocols if that's like<00:16:57.839> a 00:16:58.790 --> 00:16:58.800 align:start position:0% like a 00:16:58.800 --> 00:17:01.189 align:start position:0% like a breaks<00:16:59.459> Community<00:16:59.639> or<00:17:00.480> brings<00:17:01.019> in 00:17:01.189 --> 00:17:01.199 align:start position:0% breaks Community or brings in 00:17:01.199 --> 00:17:03.230 align:start position:0% breaks Community or brings in composability<00:17:01.740> challenges<00:17:02.279> and<00:17:02.759> kind<00:17:03.060> of<00:17:03.180> how 00:17:03.230 --> 00:17:03.240 align:start position:0% composability challenges and kind of how 00:17:03.240 --> 00:17:04.370 align:start position:0% composability challenges and kind of how you're<00:17:03.360> thinking<00:17:03.660> about<00:17:03.720> solving<00:17:04.140> that<00:17:04.199> in 00:17:04.370 --> 00:17:04.380 align:start position:0% you're thinking about solving that in 00:17:04.380 --> 00:17:05.929 align:start position:0% you're thinking about solving that in the<00:17:04.500> long<00:17:04.620> run<00:17:04.740> yeah<00:17:05.339> so<00:17:05.520> there<00:17:05.699> are<00:17:05.819> no 00:17:05.929 --> 00:17:05.939 align:start position:0% the long run yeah so there are no 00:17:05.939 --> 00:17:07.669 align:start position:0% the long run yeah so there are no composable<00:17:06.360> it<00:17:06.540> is<00:17:06.720> challenges<00:17:07.140> because<00:17:07.319> it's 00:17:07.669 --> 00:17:07.679 align:start position:0% composable it is challenges because it's 00:17:07.679 --> 00:17:09.829 align:start position:0% composable it is challenges because it's running<00:17:07.860> on<00:17:08.160> ethereum<00:17:08.640> L1<00:17:08.880> like<00:17:09.179> the<00:17:09.360> calls 00:17:09.829 --> 00:17:09.839 align:start position:0% running on ethereum L1 like the calls 00:17:09.839 --> 00:17:12.409 align:start position:0% running on ethereum L1 like the calls and<00:17:10.740> like<00:17:11.160> the<00:17:11.339> best<00:17:11.459> how<00:17:11.699> we<00:17:11.880> can<00:17:12.000> deal<00:17:12.240> with 00:17:12.409 --> 00:17:12.419 align:start position:0% and like the best how we can deal with 00:17:12.419 --> 00:17:14.090 align:start position:0% and like the best how we can deal with the<00:17:12.540> settlement<00:17:12.900> times<00:17:13.199> is<00:17:13.500> basically<00:17:13.799> having 00:17:14.090 --> 00:17:14.100 align:start position:0% the settlement times is basically having 00:17:14.100 --> 00:17:17.569 align:start position:0% the settlement times is basically having enough<00:17:14.400> users<00:17:14.880> that<00:17:15.240> it<00:17:15.540> the<00:17:16.439> that<00:17:17.100> it<00:17:17.339> makes 00:17:17.569 --> 00:17:17.579 align:start position:0% enough users that it the that it makes 00:17:17.579 --> 00:17:19.730 align:start position:0% enough users that it the that it makes that<00:17:18.000> it's<00:17:18.240> profitable<00:17:18.720> to<00:17:19.079> submit<00:17:19.380> the 00:17:19.730 --> 00:17:19.740 align:start position:0% that it's profitable to submit the 00:17:19.740 --> 00:17:23.090 align:start position:0% that it's profitable to submit the roll-up<00:17:20.640> blocks<00:17:21.299> frequently<00:17:21.839> but<00:17:22.620> as<00:17:22.799> we<00:17:22.919> said 00:17:23.090 --> 00:17:23.100 align:start position:0% roll-up blocks frequently but as we said 00:17:23.100 --> 00:17:24.590 align:start position:0% roll-up blocks frequently but as we said if<00:17:23.280> there<00:17:23.459> is<00:17:23.579> like<00:17:23.699> some<00:17:23.819> user<00:17:24.179> with<00:17:24.360> your 00:17:24.590 --> 00:17:24.600 align:start position:0% if there is like some user with your 00:17:24.600 --> 00:17:26.569 align:start position:0% if there is like some user with your origin<00:17:25.020> plan<00:17:25.199> needs<00:17:25.620> it<00:17:25.799> to<00:17:25.919> be<00:17:26.040> settled<00:17:26.400> he 00:17:26.569 --> 00:17:26.579 align:start position:0% origin plan needs it to be settled he 00:17:26.579 --> 00:17:28.610 align:start position:0% origin plan needs it to be settled he can<00:17:26.699> always<00:17:26.819> like<00:17:27.120> pay<00:17:27.419> for<00:17:27.780> those<00:17:28.020> instant 00:17:28.610 --> 00:17:28.620 align:start position:0% can always like pay for those instant 00:17:28.620 --> 00:17:30.530 align:start position:0% can always like pay for those instant settlement<00:17:29.040> much<00:17:29.640> does<00:17:29.820> it<00:17:29.940> usually<00:17:30.120> cost<00:17:30.299> if 00:17:30.530 --> 00:17:30.540 align:start position:0% settlement much does it usually cost if 00:17:30.540 --> 00:17:32.870 align:start position:0% settlement much does it usually cost if it's<00:17:30.720> just<00:17:30.840> like<00:17:30.960> one<00:17:31.140> user<00:17:31.500> or<00:17:31.860> it<00:17:32.100> depends<00:17:32.520> I 00:17:32.870 --> 00:17:32.880 align:start position:0% it's just like one user or it depends I 00:17:32.880 --> 00:17:35.029 align:start position:0% it's just like one user or it depends I mean<00:17:33.000> when<00:17:33.540> it's<00:17:33.660> badged<00:17:34.200> like 00:17:35.029 --> 00:17:35.039 align:start position:0% mean when it's badged like 00:17:35.039 --> 00:17:37.490 align:start position:0% mean when it's badged like tour<00:17:35.460> and<00:17:35.760> play<00:17:35.940> it<00:17:36.120> costs<00:17:36.600> like<00:17:36.840> one<00:17:37.320> dollar 00:17:37.490 --> 00:17:37.500 align:start position:0% tour and play it costs like one dollar 00:17:37.500 --> 00:17:54.950 align:start position:0% tour and play it costs like one dollar to<00:17:37.860> deposit<00:17:38.340> into<00:17:38.940> Euler 00:17:54.950 --> 00:17:54.960 align:start position:0% 00:17:54.960 --> 00:17:56.810 align:start position:0% um<00:17:55.020> thanks<00:17:55.260> for<00:17:55.380> the<00:17:55.500> awesome<00:17:55.620> talk 00:17:56.810 --> 00:17:56.820 align:start position:0% um thanks for the awesome talk 00:17:56.820 --> 00:17:58.730 align:start position:0% um thanks for the awesome talk um<00:17:56.940> one<00:17:57.480> example<00:17:57.780> you<00:17:57.960> gave<00:17:58.080> at<00:17:58.260> the<00:17:58.440> end<00:17:58.500> was 00:17:58.730 --> 00:17:58.740 align:start position:0% um one example you gave at the end was 00:17:58.740 --> 00:18:01.669 align:start position:0% um one example you gave at the end was like<00:17:58.980> a<00:17:59.100> private<00:17:59.460> nft<00:17:59.760> purchase<00:18:00.559> does<00:18:01.559> that 00:18:01.669 --> 00:18:01.679 align:start position:0% like a private nft purchase does that 00:18:01.679 --> 00:18:03.830 align:start position:0% like a private nft purchase does that mean<00:18:01.860> the<00:18:02.220> nft<00:18:02.520> will<00:18:02.820> be<00:18:02.940> owned<00:18:03.179> by<00:18:03.299> the<00:18:03.480> Aztec 00:18:03.830 --> 00:18:03.840 align:start position:0% mean the nft will be owned by the Aztec 00:18:03.840 --> 00:18:05.150 align:start position:0% mean the nft will be owned by the Aztec address 00:18:05.150 --> 00:18:05.160 align:start position:0% address 00:18:05.160 --> 00:18:07.970 align:start position:0% address yeah<00:18:06.000> exactly<00:18:06.419> it<00:18:06.720> would<00:18:06.840> be<00:18:06.960> on<00:18:07.080> by<00:18:07.380> the<00:18:07.500> Aztec 00:18:07.970 --> 00:18:07.980 align:start position:0% yeah exactly it would be on by the Aztec 00:18:07.980 --> 00:18:10.190 align:start position:0% yeah exactly it would be on by the Aztec address<00:18:08.100> but<00:18:08.520> there<00:18:09.120> is<00:18:09.299> this<00:18:09.539> thing<00:18:09.720> called 00:18:10.190 --> 00:18:10.200 align:start position:0% address but there is this thing called 00:18:10.200 --> 00:18:13.250 align:start position:0% address but there is this thing called we<00:18:10.799> don't<00:18:10.919> currently<00:18:11.340> like<00:18:11.640> support<00:18:12.480> nfts 00:18:13.250 --> 00:18:13.260 align:start position:0% we don't currently like support nfts 00:18:13.260 --> 00:18:15.169 align:start position:0% we don't currently like support nfts directly<00:18:13.620> in<00:18:13.799> our<00:18:13.919> UI<00:18:14.280> but<00:18:14.520> we<00:18:14.880> have<00:18:15.000> this 00:18:15.169 --> 00:18:15.179 align:start position:0% directly in our UI but we have this 00:18:15.179 --> 00:18:17.570 align:start position:0% directly in our UI but we have this thing<00:18:15.360> called<00:18:15.539> virtual<00:18:16.140> assets<00:18:16.679> which 00:18:17.570 --> 00:18:17.580 align:start position:0% thing called virtual assets which 00:18:17.580 --> 00:18:19.970 align:start position:0% thing called virtual assets which basically<00:18:17.940> allows<00:18:18.660> like<00:18:19.200> a<00:18:19.380> representation 00:18:19.970 --> 00:18:19.980 align:start position:0% basically allows like a representation 00:18:19.980 --> 00:18:22.310 align:start position:0% basically allows like a representation of<00:18:20.640> any<00:18:20.940> ownership 00:18:22.310 --> 00:18:22.320 align:start position:0% of any ownership 00:18:22.320 --> 00:18:25.370 align:start position:0% of any ownership so<00:18:22.919> like<00:18:23.580> on<00:18:23.760> ethereum<00:18:24.240> of<00:18:24.539> course<00:18:24.660> it<00:18:25.020> would 00:18:25.370 --> 00:18:25.380 align:start position:0% so like on ethereum of course it would 00:18:25.380 --> 00:18:28.010 align:start position:0% so like on ethereum of course it would like<00:18:25.620> stay<00:18:26.340> within<00:18:26.940> ether<00:18:27.240> within<00:18:27.660> the<00:18:27.780> bridge 00:18:28.010 --> 00:18:28.020 align:start position:0% like stay within ether within the bridge 00:18:28.020 --> 00:18:29.810 align:start position:0% like stay within ether within the bridge it<00:18:28.440> would<00:18:28.559> stay<00:18:28.679> within<00:18:28.980> the<00:18:29.160> bridge<00:18:29.280> contract 00:18:29.810 --> 00:18:29.820 align:start position:0% it would stay within the bridge contract 00:18:29.820 --> 00:18:33.350 align:start position:0% it would stay within the bridge contract but<00:18:30.720> yeah<00:18:31.020> the<00:18:31.320> user<00:18:31.559> could<00:18:31.740> then<00:18:32.360> interact 00:18:33.350 --> 00:18:33.360 align:start position:0% but yeah the user could then interact 00:18:33.360 --> 00:18:35.450 align:start position:0% but yeah the user could then interact with<00:18:33.600> it<00:18:33.840> by<00:18:34.140> using<00:18:34.440> the<00:18:34.740> virtual<00:18:35.100> assets 00:18:35.450 --> 00:18:35.460 align:start position:0% with it by using the virtual assets 00:18:35.460 --> 00:18:38.450 align:start position:0% with it by using the virtual assets virtual<00:18:36.240> assets<00:18:36.539> basically<00:18:36.840> what<00:18:37.080> it<00:18:37.260> does<00:18:37.460> is 00:18:38.450 --> 00:18:38.460 align:start position:0% virtual assets basically what it does is 00:18:38.460 --> 00:18:41.330 align:start position:0% virtual assets basically what it does is that<00:18:38.700> it<00:18:38.880> like<00:18:39.059> doesn't<00:18:39.559> exist<00:18:40.559> on<00:18:40.860> ethereum 00:18:41.330 --> 00:18:41.340 align:start position:0% that it like doesn't exist on ethereum 00:18:41.340 --> 00:18:44.090 align:start position:0% that it like doesn't exist on ethereum L1<00:18:41.700> but<00:18:42.120> we<00:18:42.539> create<00:18:42.720> this 00:18:44.090 --> 00:18:44.100 align:start position:0% L1 but we create this 00:18:44.100 --> 00:18:46.789 align:start position:0% L1 but we create this another<00:18:44.640> value<00:18:45.120> note<00:18:45.539> on<00:18:46.020> our<00:18:46.140> L2<00:18:46.559> which 00:18:46.789 --> 00:18:46.799 align:start position:0% another value note on our L2 which 00:18:46.799 --> 00:18:48.289 align:start position:0% another value note on our L2 which contains<00:18:47.220> the<00:18:47.340> information<00:18:47.520> which<00:18:47.940> can<00:18:48.120> then 00:18:48.289 --> 00:18:48.299 align:start position:0% contains the information which can then 00:18:48.299 --> 00:18:50.450 align:start position:0% contains the information which can then be<00:18:48.419> passed<00:18:48.780> to<00:18:48.840> the<00:18:48.960> bridge<00:18:49.080> and<00:18:49.380> worked<00:18:49.679> with 00:18:50.450 --> 00:18:50.460 align:start position:0% be passed to the bridge and worked with 00:18:50.460 --> 00:18:52.909 align:start position:0% be passed to the bridge and worked with so<00:18:51.059> yeah<00:18:51.299> though<00:18:51.720> it<00:18:52.140> would<00:18:52.260> stay<00:18:52.440> within<00:18:52.799> the 00:18:52.909 --> 00:18:52.919 align:start position:0% so yeah though it would stay within the 00:18:52.919 --> 00:18:57.830 align:start position:0% so yeah though it would stay within the contract<00:18:53.220> on<00:18:53.400> ethereum 00:18:57.830 --> 00:18:57.840 align:start position:0% 00:18:57.840 --> 00:18:59.810 align:start position:0% um<00:18:57.900> my<00:18:58.140> question<00:18:58.320> is<00:18:58.620> uh<00:18:59.160> can<00:18:59.400> you<00:18:59.580> do 00:18:59.810 --> 00:18:59.820 align:start position:0% um my question is uh can you do 00:18:59.820 --> 00:19:02.870 align:start position:0% um my question is uh can you do scripting<00:19:00.299> Logic<00:19:00.840> on<00:19:01.080> the<00:19:01.200> L2<00:19:01.500> itself<00:19:01.919> so<00:19:02.580> like 00:19:02.870 --> 00:19:02.880 align:start position:0% scripting Logic on the L2 itself so like 00:19:02.880 --> 00:19:06.230 align:start position:0% scripting Logic on the L2 itself so like not<00:19:03.120> on<00:19:03.299> a<00:19:03.419> bridge<00:19:03.539> but<00:19:04.020> within<00:19:04.860> the<00:19:04.980> L2 00:19:06.230 --> 00:19:06.240 align:start position:0% not on a bridge but within the L2 00:19:06.240 --> 00:19:09.070 align:start position:0% not on a bridge but within the L2 or<00:19:06.840> I<00:19:07.140> mean<00:19:07.260> it's<00:19:07.440> not<00:19:07.620> accessible<00:19:08.100> to<00:19:08.400> like 00:19:09.070 --> 00:19:09.080 align:start position:0% or I mean it's not accessible to like 00:19:09.080 --> 00:19:11.870 align:start position:0% or I mean it's not accessible to like developers<00:19:10.080> but<00:19:10.919> it's<00:19:11.160> possible<00:19:11.460> to<00:19:11.760> like 00:19:11.870 --> 00:19:11.880 align:start position:0% developers but it's possible to like 00:19:11.880 --> 00:19:13.549 align:start position:0% developers but it's possible to like build<00:19:12.240> circuits 00:19:13.549 --> 00:19:13.559 align:start position:0% build circuits 00:19:13.559 --> 00:19:16.610 align:start position:0% build circuits but<00:19:14.400> I<00:19:14.940> mean<00:19:15.000> it's<00:19:15.240> not<00:19:15.600> the<00:19:15.780> goal<00:19:16.020> of<00:19:16.140> Aztec 00:19:16.610 --> 00:19:16.620 align:start position:0% but I mean it's not the goal of Aztec 00:19:16.620 --> 00:19:18.409 align:start position:0% but I mean it's not the goal of Aztec connect<00:19:16.740> it<00:19:17.039> will<00:19:17.160> be<00:19:17.340> the 00:19:18.409 --> 00:19:18.419 align:start position:0% connect it will be the 00:19:18.419 --> 00:19:20.029 align:start position:0% connect it will be the like<00:19:18.900> we<00:19:19.080> will<00:19:19.200> have<00:19:19.320> generalized<00:19:19.860> smart 00:19:20.029 --> 00:19:20.039 align:start position:0% like we will have generalized smart 00:19:20.039 --> 00:19:22.250 align:start position:0% like we will have generalized smart contract<00:19:20.520> once<00:19:20.820> Aztec<00:19:21.299> 3<00:19:21.419> is<00:19:21.660> available<00:19:21.840> which 00:19:22.250 --> 00:19:22.260 align:start position:0% contract once Aztec 3 is available which 00:19:22.260 --> 00:19:25.010 align:start position:0% contract once Aztec 3 is available which will<00:19:22.440> be<00:19:22.620> in<00:19:23.220> a<00:19:23.400> year<00:19:23.520> or<00:19:23.700> more 00:19:25.010 --> 00:19:25.020 align:start position:0% will be in a year or more 00:19:25.020 --> 00:19:28.310 align:start position:0% will be in a year or more so<00:19:25.559> like<00:19:25.799> things<00:19:26.220> like<00:19:26.460> multi-6<00:19:27.360> on<00:19:27.900> the<00:19:28.020> L2 00:19:28.310 --> 00:19:28.320 align:start position:0% so like things like multi-6 on the L2 00:19:28.320 --> 00:19:30.110 align:start position:0% so like things like multi-6 on the L2 itself<00:19:28.679> that's<00:19:29.039> not<00:19:29.280> really<00:19:29.400> possible<00:19:29.820> yet 00:19:30.110 --> 00:19:30.120 align:start position:0% itself that's not really possible yet 00:19:30.120 --> 00:19:32.210 align:start position:0% itself that's not really possible yet attack<00:19:30.720> actually<00:19:31.500> there<00:19:31.860> is<00:19:32.039> an 00:19:32.210 --> 00:19:32.220 align:start position:0% attack actually there is an 00:19:32.220 --> 00:19:34.970 align:start position:0% attack actually there is an implementation<00:19:32.880> of<00:19:33.360> multisig<00:19:34.200> it<00:19:34.500> works<00:19:34.860> with 00:19:34.970 --> 00:19:34.980 align:start position:0% implementation of multisig it works with 00:19:34.980 --> 00:19:36.169 align:start position:0% implementation of multisig it works with like<00:19:35.220> those 00:19:36.169 --> 00:19:36.179 align:start position:0% like those 00:19:36.179 --> 00:19:39.169 align:start position:0% like those account<00:19:37.220> cryptography<00:19:38.220> so<00:19:38.700> yeah<00:19:38.820> we<00:19:39.059> have 00:19:39.169 --> 00:19:39.179 align:start position:0% account cryptography so yeah we have 00:19:39.179 --> 00:19:40.549 align:start position:0% account cryptography so yeah we have multi-6 00:19:40.549 --> 00:19:40.559 align:start position:0% multi-6 00:19:40.559 --> 00:19:44.289 align:start position:0% multi-6 awesome<00:19:40.980> thanks 00:19:44.289 --> 00:19:44.299 align:start position:0% 00:19:44.299 --> 00:19:48.289 align:start position:0% more<00:19:45.299> questions 00:19:48.289 --> 00:19:48.299 align:start position:0% 00:19:48.299 --> 00:19:51.110 align:start position:0% and<00:19:48.840> then<00:19:49.020> here 00:19:51.110 --> 00:19:51.120 align:start position:0% and then here 00:19:51.120 --> 00:19:54.590 align:start position:0% and then here test<00:19:51.720> us<00:19:52.020> up<00:19:52.799> so<00:19:53.580> the<00:19:53.760> the<00:19:54.000> always<00:19:54.179> a<00:19:54.419> fun 00:19:54.590 --> 00:19:54.600 align:start position:0% test us up so the the always a fun 00:19:54.600 --> 00:19:56.930 align:start position:0% test us up so the the always a fun question<00:19:54.840> about<00:19:55.200> regulatory<00:19:55.919> risk<00:19:56.880> um 00:19:56.930 --> 00:19:56.940 align:start position:0% question about regulatory risk um 00:19:56.940 --> 00:19:59.330 align:start position:0% question about regulatory risk um obviously<00:19:57.480> this<00:19:57.900> has<00:19:58.140> like<00:19:58.380> a<00:19:58.559> sounds<00:19:58.980> like<00:19:59.160> a 00:19:59.330 --> 00:19:59.340 align:start position:0% obviously this has like a sounds like a 00:19:59.340 --> 00:20:01.970 align:start position:0% obviously this has like a sounds like a mixing<00:19:59.700> component<00:20:00.120> similar<00:20:00.480> tornado 00:20:01.970 --> 00:20:01.980 align:start position:0% mixing component similar tornado 00:20:01.980 --> 00:20:04.310 align:start position:0% mixing component similar tornado um<00:20:02.039> what<00:20:02.280> are<00:20:02.460> your<00:20:02.520> thoughts<00:20:02.760> about<00:20:02.880> that<00:20:03.660> and 00:20:04.310 --> 00:20:04.320 align:start position:0% um what are your thoughts about that and 00:20:04.320 --> 00:20:06.890 align:start position:0% um what are your thoughts about that and uh<00:20:04.620> that<00:20:04.919> that<00:20:05.100> that<00:20:05.400> risk 00:20:06.890 --> 00:20:06.900 align:start position:0% uh that that that risk 00:20:06.900 --> 00:20:09.049 align:start position:0% uh that that that risk yeah so<00:20:07.500> currently<00:20:07.860> how<00:20:08.160> we<00:20:08.280> approach<00:20:08.580> it<00:20:08.760> is 00:20:09.049 --> 00:20:09.059 align:start position:0% yeah so currently how we approach it is 00:20:09.059 --> 00:20:12.770 align:start position:0% yeah so currently how we approach it is that<00:20:09.480> we<00:20:10.320> limit<00:20:10.500> the<00:20:10.799> deposit<00:20:11.340> side<00:20:11.580> size<00:20:12.419> and 00:20:12.770 --> 00:20:12.780 align:start position:0% that we limit the deposit side size and 00:20:12.780 --> 00:20:15.770 align:start position:0% that we limit the deposit side size and basically<00:20:13.140> like<00:20:13.440> our<00:20:14.100> goal<00:20:14.580> is<00:20:14.820> to<00:20:15.120> avoid<00:20:15.480> the 00:20:15.770 --> 00:20:15.780 align:start position:0% basically like our goal is to avoid the 00:20:15.780 --> 00:20:17.990 align:start position:0% basically like our goal is to avoid the use<00:20:16.080> of<00:20:16.500> hackers 00:20:17.990 --> 00:20:18.000 align:start position:0% use of hackers 00:20:18.000 --> 00:20:20.930 align:start position:0% use of hackers avoid<00:20:18.660> users<00:20:19.140> hackers<00:20:19.919> using<00:20:20.340> our<00:20:20.460> platform 00:20:20.930 --> 00:20:20.940 align:start position:0% avoid users hackers using our platform 00:20:20.940 --> 00:20:23.150 align:start position:0% avoid users hackers using our platform and<00:20:21.660> like<00:20:21.840> the<00:20:22.020> big<00:20:22.200> issue<00:20:22.440> with<00:20:22.559> tornado<00:20:22.919> cash 00:20:23.150 --> 00:20:23.160 align:start position:0% and like the big issue with tornado cash 00:20:23.160 --> 00:20:25.310 align:start position:0% and like the big issue with tornado cash was<00:20:23.460> that<00:20:23.640> like<00:20:23.880> 70<00:20:24.360> percent<00:20:24.720> of<00:20:25.020> the<00:20:25.200> money 00:20:25.310 --> 00:20:25.320 align:start position:0% was that like 70 percent of the money 00:20:25.320 --> 00:20:27.830 align:start position:0% was that like 70 percent of the money there<00:20:25.620> was<00:20:25.860> elicited<00:20:26.700> so<00:20:27.179> basically<00:20:27.480> we<00:20:27.660> are 00:20:27.830 --> 00:20:27.840 align:start position:0% there was elicited so basically we are 00:20:27.840 --> 00:20:29.450 align:start position:0% there was elicited so basically we are just<00:20:27.960> trying<00:20:28.140> to<00:20:28.320> make<00:20:28.500> it<00:20:28.679> impractical<00:20:29.220> for 00:20:29.450 --> 00:20:29.460 align:start position:0% just trying to make it impractical for 00:20:29.460 --> 00:20:31.990 align:start position:0% just trying to make it impractical for hackers<00:20:29.880> to<00:20:30.000> use<00:20:30.120> our<00:20:30.299> platform 00:20:31.990 --> 00:20:32.000 align:start position:0% hackers to use our platform 00:20:32.000 --> 00:20:34.909 align:start position:0% hackers to use our platform what's<00:20:33.000> the<00:20:33.179> limit<00:20:33.299> I<00:20:34.140> think<00:20:34.200> currently<00:20:34.679> it's 00:20:34.909 --> 00:20:34.919 align:start position:0% what's the limit I think currently it's 00:20:34.919 --> 00:20:36.950 align:start position:0% what's the limit I think currently it's like<00:20:35.100> 10<00:20:35.400> each<00:20:35.700> per<00:20:35.940> deposit<00:20:36.419> but<00:20:36.660> we<00:20:36.780> might 00:20:36.950 --> 00:20:36.960 align:start position:0% like 10 each per deposit but we might 00:20:36.960 --> 00:20:42.289 align:start position:0% like 10 each per deposit but we might increase<00:20:37.140> it<00:20:37.440> in<00:20:37.620> the<00:20:37.740> future<00:20:37.860> okay<00:20:38.640> thank<00:20:39.120> you 00:20:42.289 --> 00:20:42.299 align:start position:0% 00:20:42.299 --> 00:20:44.330 align:start position:0% can<00:20:42.660> you<00:20:42.840> share<00:20:43.080> a<00:20:43.200> little<00:20:43.320> bit<00:20:43.440> more 00:20:44.330 --> 00:20:44.340 align:start position:0% can you share a little bit more 00:20:44.340 --> 00:20:47.090 align:start position:0% can you share a little bit more um I'm<00:20:45.000> over<00:20:45.480> here<00:20:45.660> on<00:20:45.780> the<00:20:45.900> front<00:20:46.020> right 00:20:47.090 --> 00:20:47.100 align:start position:0% um I'm over here on the front right 00:20:47.100 --> 00:20:49.190 align:start position:0% um I'm over here on the front right your<00:20:47.580> 50<00:20:48.120> 000<00:20:48.240> users<00:20:48.539> can<00:20:48.720> you<00:20:48.840> give<00:20:48.960> us<00:20:49.080> a 00:20:49.190 --> 00:20:49.200 align:start position:0% your 50 000 users can you give us a 00:20:49.200 --> 00:20:51.529 align:start position:0% your 50 000 users can you give us a sense<00:20:49.380> of<00:20:49.559> like<00:20:49.740> before<00:20:50.580> Aztec<00:20:51.299> what<00:20:51.419> were 00:20:51.529 --> 00:20:51.539 align:start position:0% sense of like before Aztec what were 00:20:51.539 --> 00:20:52.970 align:start position:0% sense of like before Aztec what were they<00:20:51.720> doing<00:20:51.840> are<00:20:52.140> they<00:20:52.320> doing<00:20:52.440> the<00:20:52.679> same<00:20:52.799> thing 00:20:52.970 --> 00:20:52.980 align:start position:0% they doing are they doing the same thing 00:20:52.980 --> 00:20:55.490 align:start position:0% they doing are they doing the same thing just<00:20:53.400> totally<00:20:53.820> in<00:20:54.059> public<00:20:54.240> or<00:20:54.900> as<00:20:55.080> a<00:20:55.200> result<00:20:55.320> of 00:20:55.490 --> 00:20:55.500 align:start position:0% just totally in public or as a result of 00:20:55.500 --> 00:20:57.169 align:start position:0% just totally in public or as a result of Aztec<00:20:56.039> are<00:20:56.160> they<00:20:56.280> now<00:20:56.400> doing<00:20:56.640> things<00:20:56.880> that 00:20:57.169 --> 00:20:57.179 align:start position:0% Aztec are they now doing things that 00:20:57.179 --> 00:21:00.590 align:start position:0% Aztec are they now doing things that they<00:20:57.360> previously<00:20:57.780> weren't<00:20:58.020> doing 00:21:00.590 --> 00:21:00.600 align:start position:0% 00:21:00.600 --> 00:21:05.510 align:start position:0% oh<00:21:01.440> I'm<00:21:02.039> not<00:21:02.220> so<00:21:02.580> sure<00:21:02.940> how<00:21:03.360> to<00:21:03.480> answer<00:21:03.980> but<00:21:04.980> I 00:21:05.510 --> 00:21:05.520 align:start position:0% oh I'm not so sure how to answer but I 00:21:05.520 --> 00:21:08.450 align:start position:0% oh I'm not so sure how to answer but I would<00:21:05.580> say<00:21:05.760> it<00:21:06.120> were<00:21:06.360> like<00:21:06.660> General<00:21:07.080> like<00:21:07.919> defy 00:21:08.450 --> 00:21:08.460 align:start position:0% would say it were like General like defy 00:21:08.460 --> 00:21:10.789 align:start position:0% would say it were like General like defy users<00:21:08.820> and<00:21:09.539> they<00:21:09.720> just<00:21:09.840> wanted<00:21:10.020> that<00:21:10.380> privacy 00:21:10.789 --> 00:21:10.799 align:start position:0% users and they just wanted that privacy 00:21:10.799 --> 00:21:13.310 align:start position:0% users and they just wanted that privacy so<00:21:11.100> they<00:21:11.220> deposited<00:21:11.700> to<00:21:11.880> Aztec 00:21:13.310 --> 00:21:13.320 align:start position:0% so they deposited to Aztec 00:21:13.320 --> 00:21:18.110 align:start position:0% so they deposited to Aztec but<00:21:13.919> I<00:21:14.220> actually<00:21:14.340> didn't<00:21:14.580> do<00:21:14.820> the<00:21:15.000> analysis 00:21:18.110 --> 00:21:18.120 align:start position:0% 00:21:18.120 --> 00:21:20.630 align:start position:0% we<00:21:18.600> have<00:21:18.720> four<00:21:19.260> minutes<00:21:19.500> more<00:21:19.860> if<00:21:20.340> you<00:21:20.580> have 00:21:20.630 --> 00:21:20.640 align:start position:0% we have four minutes more if you have 00:21:20.640 --> 00:21:22.669 align:start position:0% we have four minutes more if you have any<00:21:20.820> questions<00:21:21.059> you<00:21:21.419> have<00:21:21.600> John 00:21:22.669 --> 00:21:22.679 align:start position:0% any questions you have John 00:21:22.679 --> 00:21:25.430 align:start position:0% any questions you have John has<00:21:23.039> been<00:21:23.220> really<00:21:23.400> Brave<00:21:23.700> to<00:21:24.200> substitute<00:21:25.200> the 00:21:25.430 --> 00:21:25.440 align:start position:0% has been really Brave to substitute the 00:21:25.440 --> 00:21:26.950 align:start position:0% has been really Brave to substitute the CEO 00:21:26.950 --> 00:21:26.960 align:start position:0% CEO 00:21:26.960 --> 00:21:29.630 align:start position:0% CEO congrats<00:21:27.960> big<00:21:28.140> round<00:21:28.320> of<00:21:28.500> applause 00:21:29.630 --> 00:21:29.640 align:start position:0% congrats big round of applause 00:21:29.640 --> 00:21:34.880 align:start position:0% congrats big round of applause just<00:21:30.240> prepare<00:21:30.600> this<00:21:30.840> thank<00:21:31.500> you<00:21:32.159> thank<00:21:32.640> you