WEBVTT Kind: captions Language: en 00:00:00.060 --> 00:00:02.840 align:start position:0% hello<00:00:00.840> everyone<00:00:01.260> my<00:00:01.860> name<00:00:02.010> is<00:00:02.159> Jenna<00:00:02.370> and<00:00:02.639> I 00:00:02.840 --> 00:00:02.850 align:start position:0% hello everyone my name is Jenna and I 00:00:02.850 --> 00:00:04.730 align:start position:0% hello everyone my name is Jenna and I work<00:00:03.179> with<00:00:03.449> melon<00:00:03.870> port<00:00:04.080> and<00:00:04.259> I'm<00:00:04.350> here<00:00:04.529> today 00:00:04.730 --> 00:00:04.740 align:start position:0% work with melon port and I'm here today 00:00:04.740 --> 00:00:07.820 align:start position:0% work with melon port and I'm here today to<00:00:05.460> tell<00:00:06.359> you<00:00:06.569> that<00:00:06.750> melon<00:00:07.140> port<00:00:07.410> will<00:00:07.680> not 00:00:07.820 --> 00:00:07.830 align:start position:0% to tell you that melon port will not 00:00:07.830 --> 00:00:09.440 align:start position:0% to tell you that melon port will not exist<00:00:08.280> by<00:00:08.670> defcon5 00:00:09.440 --> 00:00:09.450 align:start position:0% exist by defcon5 00:00:09.450 --> 00:00:11.690 align:start position:0% exist by defcon5 so<00:00:10.050> I<00:00:10.380> would<00:00:10.679> like<00:00:10.830> to<00:00:10.889> start<00:00:11.280> with<00:00:11.370> a<00:00:11.519> quick 00:00:11.690 --> 00:00:11.700 align:start position:0% so I would like to start with a quick 00:00:11.700 --> 00:00:13.430 align:start position:0% so I would like to start with a quick question<00:00:11.880> to<00:00:12.150> the<00:00:12.240> audience<00:00:12.389> who<00:00:13.170> knew 00:00:13.430 --> 00:00:13.440 align:start position:0% question to the audience who knew 00:00:13.440 --> 00:00:15.589 align:start position:0% question to the audience who knew already<00:00:13.920> before<00:00:14.400> that<00:00:14.639> melon<00:00:14.969> port<00:00:15.210> would<00:00:15.389> not 00:00:15.589 --> 00:00:15.599 align:start position:0% already before that melon port would not 00:00:15.599 --> 00:00:19.670 align:start position:0% already before that melon port would not stick<00:00:16.529> around<00:00:16.619> for<00:00:17.520> a<00:00:17.550> couple<00:00:17.970> more<00:00:18.090> years<00:00:18.680> one 00:00:19.670 --> 00:00:19.680 align:start position:0% stick around for a couple more years one 00:00:19.680 --> 00:00:21.230 align:start position:0% stick around for a couple more years one two<00:00:19.920> three<00:00:20.340> this<00:00:20.490> is<00:00:20.550> the<00:00:20.670> melon<00:00:20.970> for<00:00:21.119> it 00:00:21.230 --> 00:00:21.240 align:start position:0% two three this is the melon for it 00:00:21.240 --> 00:00:25.279 align:start position:0% two three this is the melon for it seemed<00:00:21.449> okay<00:00:21.930> so<00:00:22.410> not<00:00:22.560> so<00:00:22.769> many<00:00:23.750> that's<00:00:24.750> normal 00:00:25.279 --> 00:00:25.289 align:start position:0% seemed okay so not so many that's normal 00:00:25.289 --> 00:00:28.670 align:start position:0% seemed okay so not so many that's normal because<00:00:26.449> melon<00:00:27.449> port<00:00:27.720> is<00:00:27.900> actually<00:00:28.109> one<00:00:28.650> of 00:00:28.670 --> 00:00:28.680 align:start position:0% because melon port is actually one of 00:00:28.680 --> 00:00:32.479 align:start position:0% because melon port is actually one of the<00:00:28.920> first<00:00:29.130> Deb<00:00:30.439> protocol<00:00:31.439> which<00:00:31.769> is<00:00:31.800> going<00:00:32.430> to 00:00:32.479 --> 00:00:32.489 align:start position:0% the first Deb protocol which is going to 00:00:32.489 --> 00:00:34.130 align:start position:0% the first Deb protocol which is going to wind<00:00:32.669> down<00:00:32.759> the<00:00:33.059> company<00:00:33.480> that<00:00:33.660> built<00:00:33.899> it 00:00:34.130 --> 00:00:34.140 align:start position:0% wind down the company that built it 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position:0% so really melon port is a swiss-based 00:00:44.309 --> 00:00:47.360 align:start position:0% so really melon port is a swiss-based company<00:00:45.120> that<00:00:45.390> was<00:00:45.539> mandated<00:00:45.950> in<00:00:46.950> February 00:00:47.360 --> 00:00:47.370 align:start position:0% company that was mandated in February 00:00:47.370 --> 00:00:50.420 align:start position:0% company that was mandated in February 2017<00:00:48.210> for<00:00:48.600> the<00:00:48.840> development<00:00:49.469> of<00:00:49.680> the<00:00:50.190> melon 00:00:50.420 --> 00:00:50.430 align:start position:0% 2017 for the development of the melon 00:00:50.430 --> 00:00:53.029 align:start position:0% 2017 for the development of the melon protocol<00:00:50.940> and<00:00:51.469> melon<00:00:52.469> port<00:00:52.710> took<00:00:52.920> the 00:00:53.029 --> 00:00:53.039 align:start position:0% protocol and melon port took the 00:00:53.039 --> 00:00:55.250 align:start position:0% protocol and melon port took the commitment<00:00:53.520> to<00:00:54.000> wind<00:00:54.210> down<00:00:54.360> the<00:00:54.600> company 00:00:55.250 --> 00:00:55.260 align:start position:0% commitment to wind down the company 00:00:55.260 --> 00:00:57.350 align:start position:0% commitment to wind down the company once<00:00:55.649> the<00:00:55.800> protocol<00:00:56.250> would<00:00:56.370> be<00:00:56.520> ready<00:00:57.120> to 00:00:57.350 --> 00:00:57.360 align:start position:0% once the protocol would be ready to 00:00:57.360 --> 00:01:00.250 align:start position:0% once the protocol would be ready to deploy<00:00:57.510> it<00:00:57.750> on<00:00:57.960> the<00:00:58.379> main<00:00:58.530> net<00:00:58.739> so<00:00:59.370> in<00:00:59.969> February 00:01:00.250 --> 00:01:00.260 align:start position:0% deploy it on the main net so in February 00:01:00.260 --> 00:01:03.410 align:start position:0% deploy it on the main net so in February 2019<00:01:01.260> which<00:01:01.530> is<00:01:01.739> two<00:01:01.949> years<00:01:01.980> later<00:01:02.460> in<00:01:03.329> a 00:01:03.410 --> 00:01:03.420 align:start position:0% 2019 which is two years later in a 00:01:03.420 --> 00:01:04.850 align:start position:0% 2019 which is two years later in a couple<00:01:03.690> of<00:01:03.750> months<00:01:04.110> from<00:01:04.199> now<00:01:04.409> we<00:01:04.470> are<00:01:04.710> going 00:01:04.850 --> 00:01:04.860 align:start position:0% couple of months from now we are going 00:01:04.860 --> 00:01:06.980 align:start position:0% couple of months from now we are going to<00:01:04.920> deploy<00:01:05.250> to<00:01:05.430> the<00:01:05.460> main<00:01:05.670> net<00:01:05.880> went<00:01:06.600> down<00:01:06.810> the 00:01:06.980 --> 00:01:06.990 align:start position:0% to deploy to the main net went down the 00:01:06.990 --> 00:01:10.390 align:start position:0% to deploy to the main net went down the company<00:01:07.409> and<00:01:07.619> decentralize<00:01:08.369> the<00:01:09.290> the 00:01:10.390 --> 00:01:10.400 align:start position:0% company and decentralize the the 00:01:10.400 --> 00:01:12.679 align:start position:0% company and decentralize the the governance<00:01:11.400> and<00:01:11.610> shittier<00:01:12.000> maintenance<00:01:12.510> of 00:01:12.679 --> 00:01:12.689 align:start position:0% governance and shittier maintenance of 00:01:12.689 --> 00:01:14.899 align:start position:0% governance and shittier maintenance of the<00:01:12.810> protocol<00:01:13.200> so<00:01:14.010> really<00:01:14.400> what<00:01:14.760> this 00:01:14.899 --> 00:01:14.909 align:start position:0% the protocol so really what this 00:01:14.909 --> 00:01:17.690 align:start position:0% the protocol so really what this presentation<00:01:15.450> is<00:01:15.840> about<00:01:15.990> is<00:01:16.409> how<00:01:17.189> can<00:01:17.220> we<00:01:17.430> get 00:01:17.690 --> 00:01:17.700 align:start position:0% presentation is about is how can we get 00:01:17.700 --> 00:01:21.920 align:start position:0% presentation is about is how can we get rid<00:01:17.850> of<00:01:18.060> melon<00:01:18.630> ports<00:01:18.960> or<00:01:19.710> in<00:01:20.130> other<00:01:20.369> words<00:01:20.930> how 00:01:21.920 --> 00:01:21.930 align:start position:0% rid of melon ports or in other words how 00:01:21.930 --> 00:01:24.140 align:start position:0% rid of melon ports or in other words how do<00:01:21.990> we<00:01:22.229> make<00:01:22.380> it<00:01:22.530> so<00:01:22.680> that<00:01:22.710> the<00:01:23.340> melon<00:01:23.640> protocol 00:01:24.140 --> 00:01:24.150 align:start position:0% do we make it so that the melon protocol 00:01:24.150 --> 00:01:27.289 align:start position:0% do we make it so that the melon protocol can<00:01:25.140> be<00:01:25.320> self<00:01:25.560> sustainable<00:01:26.220> and<00:01:26.430> succeed 00:01:27.289 --> 00:01:27.299 align:start position:0% can be self sustainable and succeed 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talk<00:01:36.540> about<00:01:36.570> how<00:01:37.500> can<00:01:37.530> we<00:01:37.890> create<00:01:38.070> a<00:01:38.220> healthy 00:01:38.749 --> 00:01:38.759 align:start position:0% talk about how can we create a healthy 00:01:38.759 --> 00:01:41.569 align:start position:0% talk about how can we create a healthy ground<00:01:39.000> for<00:01:39.390> network<00:01:39.960> effects<00:01:40.470> then<00:01:41.400> we're 00:01:41.569 --> 00:01:41.579 align:start position:0% ground for network effects then we're 00:01:41.579 --> 00:01:44.149 align:start position:0% ground for network effects then we're gonna<00:01:41.670> see<00:01:42.030> how<00:01:42.570> do<00:01:42.630> we<00:01:42.840> provide<00:01:43.259> the<00:01:43.649> proper 00:01:44.149 --> 00:01:44.159 align:start position:0% gonna see how do we provide the proper 00:01:44.159 --> 00:01:47.510 align:start position:0% gonna see how do we provide the proper economic<00:01:44.880> incentives<00:01:45.530> for<00:01:46.530> the<00:01:46.860> participants 00:01:47.510 --> 00:01:47.520 align:start position:0% economic incentives for the participants 00:01:47.520 --> 00:01:50.569 align:start position:0% economic incentives for the participants in<00:01:47.640> the<00:01:47.790> network<00:01:48.090> and<00:01:48.420> the<00:01:49.200> third<00:01:49.409> part<00:01:49.710> is<00:01:50.040> the 00:01:50.569 --> 00:01:50.579 align:start position:0% in the network and the third part is the 00:01:50.579 --> 00:01:52.550 align:start position:0% in the network and the third part is the governance<00:01:51.360> and<00:01:51.659> maintenance<00:01:51.960> framework 00:01:52.550 --> 00:01:52.560 align:start position:0% governance and maintenance framework 00:01:52.560 --> 00:01:55.160 align:start position:0% governance and maintenance framework that<00:01:52.890> we<00:01:53.070> put<00:01:53.280> in<00:01:53.430> place<00:01:53.460> to<00:01:53.970> support<00:01:54.659> the 00:01:55.160 --> 00:01:55.170 align:start position:0% that we put in place to support the 00:01:55.170 --> 00:01:58.609 align:start position:0% that we put in place to support the future<00:01:55.320> of<00:01:55.710> the<00:01:55.920> Imagine<00:01:56.189> protocol<00:01:56.640> so<00:01:57.619> first 00:01:58.609 --> 00:01:58.619 align:start position:0% future of the Imagine protocol so first 00:01:58.619 --> 00:02:01.219 align:start position:0% future of the Imagine protocol so first what<00:01:59.549> is<00:01:59.579> melon<00:02:00.180> I'm<00:02:00.329> gonna<00:02:00.600> give<00:02:00.810> a<00:02:00.960> quick 00:02:01.219 --> 00:02:01.229 align:start position:0% what is melon I'm gonna give a quick 00:02:01.229 --> 00:02:04.330 align:start position:0% what is melon I'm gonna give a quick melon<00:02:01.890> 101<00:02:02.340> for<00:02:02.640> the<00:02:03.149> people<00:02:03.450> not<00:02:03.869> familiar 00:02:04.330 --> 00:02:04.340 align:start position:0% melon 101 for the people not familiar 00:02:04.340 --> 00:02:07.819 align:start position:0% melon 101 for the people not familiar with<00:02:05.340> the<00:02:05.460> melon<00:02:05.700> protocol<00:02:06.149> so<00:02:06.750> melon<00:02:07.469> is<00:02:07.680> an 00:02:07.819 --> 00:02:07.829 align:start position:0% with the melon protocol so melon is an 00:02:07.829 --> 00:02:10.040 align:start position:0% with the melon protocol so melon is an open<00:02:08.160> source<00:02:08.310> protocol<00:02:08.879> for<00:02:09.149> untain<00:02:09.660> asset 00:02:10.040 --> 00:02:10.050 align:start position:0% open source protocol for untain asset 00:02:10.050 --> 00:02:13.150 align:start position:0% open source protocol for untain asset management<00:02:10.349> it<00:02:10.920> allows<00:02:11.459> anyone<00:02:12.300> to 00:02:13.150 --> 00:02:13.160 align:start position:0% management it allows anyone to 00:02:13.160 --> 00:02:16.320 align:start position:0% management it allows anyone to and<00:02:13.520> manager<00:02:13.970> fund<00:02:14.240> on<00:02:14.930> the<00:02:15.110> ECM<00:02:15.470> blockchain 00:02:16.320 --> 00:02:16.330 align:start position:0% and manager fund on the ECM blockchain 00:02:16.330 --> 00:02:19.840 align:start position:0% and manager fund on the ECM blockchain so<00:02:17.330> technically<00:02:17.960> what<00:02:18.410> it<00:02:18.560> is<00:02:18.710> it<00:02:19.070> is<00:02:19.250> a<00:02:19.490> set<00:02:19.700> of 00:02:19.840 --> 00:02:19.850 align:start position:0% so technically what it is it is a set of 00:02:19.850 --> 00:02:22.540 align:start position:0% so technically what it is it is a set of rules<00:02:20.150> implementing<00:02:20.990> the<00:02:21.200> behavior<00:02:21.680> of<00:02:21.950> an 00:02:22.540 --> 00:02:22.550 align:start position:0% rules implementing the behavior of an 00:02:22.550 --> 00:02:25.870 align:start position:0% rules implementing the behavior of an investment<00:02:23.090> fund<00:02:23.470> as<00:02:24.470> a<00:02:24.560> set<00:02:25.040> of<00:02:25.310> smart 00:02:25.870 --> 00:02:25.880 align:start position:0% investment fund as a set of smart 00:02:25.880 --> 00:02:30.010 align:start position:0% investment fund as a set of smart contracts<00:02:26.710> so<00:02:27.710> another<00:02:28.250> way<00:02:28.460> to<00:02:29.020> understand 00:02:30.010 --> 00:02:30.020 align:start position:0% contracts so another way to understand 00:02:30.020 --> 00:02:31.600 align:start position:0% contracts so another way to understand what<00:02:30.200> Mellon<00:02:30.530> is<00:02:30.680> is<00:02:30.890> to<00:02:31.010> see<00:02:31.190> how<00:02:31.310> you<00:02:31.370> would 00:02:31.600 --> 00:02:31.610 align:start position:0% what Mellon is is to see how you would 00:02:31.610 --> 00:02:34.840 align:start position:0% what Mellon is is to see how you would actually<00:02:31.850> create<00:02:32.720> a<00:02:33.050> fund<00:02:33.410> on<00:02:34.070> our<00:02:34.280> platform 00:02:34.840 --> 00:02:34.850 align:start position:0% actually create a fund on our platform 00:02:34.850 --> 00:02:37.120 align:start position:0% actually create a fund on our platform so<00:02:35.150> it's<00:02:35.660> very<00:02:35.840> simple<00:02:36.290> it<00:02:36.500> takes<00:02:36.650> a<00:02:36.890> few 00:02:37.120 --> 00:02:37.130 align:start position:0% so it's very simple it takes a few 00:02:37.130 --> 00:02:39.520 align:start position:0% so it's very simple it takes a few seconds<00:02:37.610> you<00:02:38.510> go<00:02:38.630> on<00:02:38.750> the<00:02:38.870> platform 00:02:39.520 --> 00:02:39.530 align:start position:0% seconds you go on the platform 00:02:39.530 --> 00:02:41.860 align:start position:0% seconds you go on the platform give<00:02:40.040> your<00:02:40.220> fund<00:02:40.490> a<00:02:40.580> name<00:02:40.760> select<00:02:41.660> the 00:02:41.860 --> 00:02:41.870 align:start position:0% give your fund a name select the 00:02:41.870 --> 00:02:43.750 align:start position:0% give your fund a name select the exchanges<00:02:42.500> that<00:02:42.650> you<00:02:42.740> want<00:02:42.950> your<00:02:43.130> phone<00:02:43.370> to<00:02:43.550> be 00:02:43.750 --> 00:02:43.760 align:start position:0% exchanges that you want your phone to be 00:02:43.760 --> 00:02:46.840 align:start position:0% exchanges that you want your phone to be allowed<00:02:44.630> to<00:02:44.660> trade<00:02:45.110> with<00:02:45.490> then<00:02:46.490> you're<00:02:46.670> going 00:02:46.840 --> 00:02:46.850 align:start position:0% allowed to trade with then you're going 00:02:46.850 --> 00:02:49.690 align:start position:0% allowed to trade with then you're going to<00:02:46.910> be<00:02:47.060> able<00:02:47.330> to<00:02:47.770> define<00:02:48.770> your<00:02:48.950> fee<00:02:49.220> structure 00:02:49.690 --> 00:02:49.700 align:start position:0% to be able to define your fee structure 00:02:49.700 --> 00:02:51.190 align:start position:0% to be able to define your fee structure so<00:02:50.030> that<00:02:50.060> is<00:02:50.330> the<00:02:50.480> management<00:02:50.810> and 00:02:51.190 --> 00:02:51.200 align:start position:0% so that is the management and 00:02:51.200 --> 00:02:54.160 align:start position:0% so that is the management and performance<00:02:51.980> fee<00:02:52.160> are<00:02:52.400> your<00:02:52.520> actual<00:02:52.790> funds<00:02:53.180> so 00:02:54.160 --> 00:02:54.170 align:start position:0% performance fee are your actual funds so 00:02:54.170 --> 00:02:56.230 align:start position:0% performance fee are your actual funds so just<00:02:54.560> as<00:02:54.740> in<00:02:55.040> the<00:02:55.130> traditional<00:02:55.580> world<00:02:55.730> except 00:02:56.230 --> 00:02:56.240 align:start position:0% just as in the traditional world except 00:02:56.240 --> 00:02:59.500 align:start position:0% just as in the traditional world except that<00:02:56.390> here<00:02:56.780> the<00:02:57.320> this<00:02:58.160> is<00:02:58.370> encoded<00:02:59.060> and<00:02:59.270> the 00:02:59.500 --> 00:02:59.510 align:start position:0% that here the this is encoded and the 00:02:59.510 --> 00:03:02.830 align:start position:0% that here the this is encoded and the smart<00:02:59.750> contracts<00:03:00.730> then<00:03:01.730> you<00:03:02.150> will<00:03:02.300> also<00:03:02.660> have 00:03:02.830 --> 00:03:02.840 align:start position:0% smart contracts then you will also have 00:03:02.840 --> 00:03:06.190 align:start position:0% smart contracts then you will also have the<00:03:03.050> possibility<00:03:03.200> to<00:03:04.390> configure<00:03:05.390> your<00:03:05.870> risk 00:03:06.190 --> 00:03:06.200 align:start position:0% the possibility to configure your risk 00:03:06.200 --> 00:03:09.160 align:start position:0% the possibility to configure your risk management<00:03:06.290> profile<00:03:07.220> so<00:03:07.460> those<00:03:07.670> are<00:03:08.170> pre 00:03:09.160 --> 00:03:09.170 align:start position:0% management profile so those are pre 00:03:09.170 --> 00:03:11.770 align:start position:0% management profile so those are pre trade<00:03:09.560> clearance<00:03:10.160> rules<00:03:10.940> that<00:03:11.330> are<00:03:11.540> going<00:03:11.690> to 00:03:11.770 --> 00:03:11.780 align:start position:0% trade clearance rules that are going to 00:03:11.780 --> 00:03:14.110 align:start position:0% trade clearance rules that are going to be<00:03:11.900> included<00:03:12.770> in<00:03:12.950> the<00:03:13.220> smart<00:03:13.460> contracts<00:03:13.940> and 00:03:14.110 --> 00:03:14.120 align:start position:0% be included in the smart contracts and 00:03:14.120 --> 00:03:16.990 align:start position:0% be included in the smart contracts and enforced<00:03:14.720> by<00:03:14.810> the<00:03:15.710> blockchain<00:03:16.040> so<00:03:16.520> it<00:03:16.700> can<00:03:16.850> be 00:03:16.990 --> 00:03:17.000 align:start position:0% enforced by the blockchain so it can be 00:03:17.000 --> 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you<00:03:25.190> could<00:03:25.400> blacklist 00:03:25.870 --> 00:03:25.880 align:start position:0% whitelist assets you could blacklist 00:03:25.880 --> 00:03:27.850 align:start position:0% whitelist assets you could blacklist assets<00:03:26.390> if<00:03:26.540> you<00:03:26.630> want<00:03:26.810> to<00:03:27.020> give<00:03:27.530> the<00:03:27.680> guarantee 00:03:27.850 --> 00:03:27.860 align:start position:0% assets if you want to give the guarantee 00:03:27.860 --> 00:03:29.350 align:start position:0% assets if you want to give the guarantee to<00:03:28.130> your<00:03:28.340> investors<00:03:28.730> that<00:03:28.970> you're<00:03:29.060> not<00:03:29.240> going 00:03:29.350 --> 00:03:29.360 align:start position:0% to your investors that you're not going 00:03:29.360 --> 00:03:33.880 align:start position:0% to your investors that you're not going to<00:03:29.450> trade<00:03:29.630> anything<00:03:30.530> dodgy<00:03:31.540> and<00:03:32.540> then<00:03:32.890> really 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hit create fund you're 00:03:41.240 --> 00:03:43.990 align:start position:0% soon as you hit create fund you're actually<00:03:41.690> going<00:03:41.840> to<00:03:41.960> be<00:03:42.050> deploying<00:03:43.040> a<00:03:43.220> fund<00:03:43.490> to 00:03:43.990 --> 00:03:44.000 align:start position:0% actually going to be deploying a fund to 00:03:44.000 --> 00:03:47.320 align:start position:0% actually going to be deploying a fund to the<00:03:44.240> theorem<00:03:44.720> blockchain<00:03:45.250> so<00:03:46.250> really<00:03:47.060> on<00:03:47.210> the 00:03:47.320 --> 00:03:47.330 align:start position:0% the theorem blockchain so really on the 00:03:47.330 --> 00:03:49.750 align:start position:0% the theorem blockchain so really on the blockchain<00:03:47.600> how<00:03:47.750> does<00:03:48.080> it<00:03:48.230> look<00:03:48.410> like<00:03:48.610> you<00:03:49.610> get 00:03:49.750 --> 00:03:49.760 align:start position:0% blockchain how does it look like you get 00:03:49.760 --> 00:03:52.270 align:start position:0% blockchain how does it look like you get what<00:03:50.000> we<00:03:50.030> call<00:03:50.150> a<00:03:50.570> technology<00:03:51.380> regulated<00:03:52.070> and 00:03:52.270 --> 00:03:52.280 align:start position:0% what we call a technology regulated and 00:03:52.280 --> 00:03:55.540 align:start position:0% what we call a technology regulated and operated<00:03:52.850> fund<00:03:53.120> so<00:03:53.780> it<00:03:54.140> is<00:03:54.290> a<00:03:54.500> set<00:03:54.800> of<00:03:55.040> smart 00:03:55.540 --> 00:03:55.550 align:start position:0% operated fund so it is a set of smart 00:03:55.550 --> 00:03:58.000 align:start position:0% operated fund so it is a set of smart contracts<00:03:56.150> and<00:03:56.840> each<00:03:57.290> contract<00:03:57.830> is<00:03:57.980> a 00:03:58.000 --> 00:03:58.010 align:start position:0% contracts and each contract is a 00:03:58.010 --> 00:04:00.010 align:start position:0% contracts and each contract is a component<00:03:58.430> of<00:03:58.820> the<00:03:59.360> phone<00:03:59.570> so<00:03:59.750> you<00:03:59.840> have<00:03:59.990> a 00:04:00.010 --> 00:04:00.020 align:start position:0% component of the phone so you have a 00:04:00.020 --> 00:04:01.930 align:start position:0% component of the phone so you have a component<00:04:00.320> that<00:04:00.500> takes<00:04:00.830> care<00:04:01.070> of<00:04:01.130> the 00:04:01.930 --> 00:04:01.940 align:start position:0% component that takes care of the 00:04:01.940 --> 00:04:04.060 align:start position:0% component that takes care of the internal<00:04:02.540> accounting<00:04:03.050> and<00:04:03.260> nav<00:04:03.410> calculation 00:04:04.060 --> 00:04:04.070 align:start position:0% internal accounting and nav calculation 00:04:04.070 --> 00:04:06.240 align:start position:0% internal accounting and nav calculation you<00:04:04.550> have<00:04:04.670> a<00:04:04.700> component<00:04:05.030> that<00:04:05.240> takes<00:04:05.570> care<00:04:05.840> of 00:04:06.240 --> 00:04:06.250 align:start position:0% you have a component that takes care of 00:04:06.250 --> 00:04:09.640 align:start position:0% you have a component that takes care of the<00:04:07.250> fee<00:04:07.490> calculation<00:04:07.640> and<00:04:08.420> distribution<00:04:08.810> you 00:04:09.640 --> 00:04:09.650 align:start position:0% the fee calculation and distribution you 00:04:09.650 --> 00:04:11.020 align:start position:0% the fee calculation and distribution you have<00:04:09.800> a<00:04:09.860> components<00:04:10.310> that<00:04:10.430> take<00:04:10.580> care<00:04:10.790> of<00:04:10.940> the 00:04:11.020 --> 00:04:11.030 align:start position:0% have a components that take care of the 00:04:11.030 --> 00:04:13.720 align:start position:0% have a components that take care of the trading<00:04:11.270> etc<00:04:11.990> etc<00:04:12.140> so<00:04:12.740> you<00:04:13.070> as<00:04:13.370> a<00:04:13.400> fund<00:04:13.700> manager 00:04:13.720 --> 00:04:13.730 align:start position:0% trading etc etc so you as a fund manager 00:04:13.730 --> 00:04:16.660 align:start position:0% trading etc etc so you as a fund manager on<00:04:14.180> top<00:04:14.480> you<00:04:15.110> control<00:04:15.500> your<00:04:15.620> fund<00:04:15.950> and<00:04:16.190> can 00:04:16.660 --> 00:04:16.670 align:start position:0% on top you control your fund and can 00:04:16.670 --> 00:04:19.120 align:start position:0% on top you control your fund and can make<00:04:16.880> various<00:04:17.359> interactions<00:04:18.200> such<00:04:18.770> as 00:04:19.120 --> 00:04:19.130 align:start position:0% make various interactions such as 00:04:19.130 --> 00:04:22.690 align:start position:0% make various interactions such as trading<00:04:19.670> on<00:04:19.880> behalf<00:04:20.210> of<00:04:20.420> your<00:04:20.630> investors<00:04:21.700> so 00:04:22.690 --> 00:04:22.700 align:start position:0% trading on behalf of your investors so 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--> 00:04:30.330 align:start position:0% your phone by calling a function in the 00:04:30.330 --> 00:04:33.980 align:start position:0% your phone by calling a function in the participation<00:04:30.870> components<00:04:31.770> and<00:04:32.630> your<00:04:33.630> fund 00:04:33.980 --> 00:04:33.990 align:start position:0% participation components and your fund 00:04:33.990 --> 00:04:36.170 align:start position:0% participation components and your fund the<00:04:34.770> valuation<00:04:35.280> of<00:04:35.370> your<00:04:35.430> phone<00:04:35.760> is<00:04:35.940> going<00:04:36.030> to 00:04:36.170 --> 00:04:36.180 align:start position:0% the valuation of your phone is going to 00:04:36.180 --> 00:04:38.630 align:start position:0% the valuation of your phone is going to be<00:04:36.270> calculated<00:04:36.840> unchain<00:04:37.410> using<00:04:38.220> untrained 00:04:38.630 --> 00:04:38.640 align:start position:0% be calculated unchain using untrained 00:04:38.640 --> 00:04:41.390 align:start position:0% be calculated unchain using untrained prices<00:04:39.120> that<00:04:39.300> we<00:04:39.420> get<00:04:39.600> from<00:04:40.410> the<00:04:40.830> cable 00:04:41.390 --> 00:04:41.400 align:start position:0% prices that we get from the cable 00:04:41.400 --> 00:04:44.240 align:start position:0% prices that we get from the cable network<00:04:42.080> and<00:04:43.080> then<00:04:43.290> the<00:04:43.560> other<00:04:43.710> external 00:04:44.240 --> 00:04:44.250 align:start position:0% network and then the other external 00:04:44.250 --> 00:04:45.680 align:start position:0% network and then the other external interaction<00:04:44.910> that<00:04:45.000> you<00:04:45.060> have<00:04:45.180> are 00:04:45.680 --> 00:04:45.690 align:start position:0% interaction that you have are 00:04:45.690 --> 00:04:47.660 align:start position:0% interaction that you have are decentralized<00:04:46.590> exchanges<00:04:47.280> that<00:04:47.400> you<00:04:47.460> can 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--> 00:04:58.850 align:start position:0% caper and we have the s phonetics integration<00:04:56.280> coming<00:04:57.060> up<00:04:57.180> soon<00:04:57.450> so<00:04:57.690> that's<00:04:58.590> how 00:04:58.850 --> 00:04:58.860 align:start position:0% integration coming up soon so that's how 00:04:58.860 --> 00:05:01.760 align:start position:0% integration coming up soon so that's how a<00:04:58.890> fund<00:04:59.370> looks<00:04:59.580> like<00:04:59.790> on<00:05:00.780> the<00:05:01.110> blockchain<00:05:01.320> and 00:05:01.760 --> 00:05:01.770 align:start position:0% a fund looks like on the blockchain and 00:05:01.770 --> 00:05:04.160 align:start position:0% a fund looks like on the blockchain and what<00:05:02.430> I<00:05:02.610> think<00:05:02.850> is<00:05:03.000> really<00:05:03.210> nice<00:05:03.450> is<00:05:03.750> that<00:05:03.960> in 00:05:04.160 --> 00:05:04.170 align:start position:0% what I think is really nice is that in 00:05:04.170 --> 00:05:07.040 align:start position:0% what I think is really nice is that in the<00:05:04.290> past<00:05:04.470> few<00:05:04.800> years<00:05:04.890> we<00:05:05.550> have<00:05:05.730> seen<00:05:06.050> an 00:05:07.040 --> 00:05:07.050 align:start position:0% the past few years we have seen an 00:05:07.050 --> 00:05:09.380 align:start position:0% the past few years we have seen an explosion<00:05:07.470> of<00:05:07.680> open<00:05:08.460> source<00:05:08.670> finance 00:05:09.380 --> 00:05:09.390 align:start position:0% explosion of open source finance 00:05:09.390 --> 00:05:12.770 align:start position:0% explosion of open source finance protocols<00:05:09.930> and<00:05:10.460> mellon<00:05:11.460> comes<00:05:11.850> nicely<00:05:12.300> on<00:05:12.570> top 00:05:12.770 --> 00:05:12.780 align:start position:0% protocols and mellon comes nicely on top 00:05:12.780 --> 00:05:16.330 align:start position:0% protocols and mellon comes nicely on top of<00:05:12.900> that<00:05:13.050> and<00:05:13.970> nicely<00:05:14.970> integrates<00:05:15.570> and 00:05:16.330 --> 00:05:16.340 align:start position:0% of that and nicely integrates and 00:05:16.340 --> 00:05:19.190 align:start position:0% of that and nicely integrates and connects<00:05:17.340> those<00:05:18.030> different<00:05:18.480> protocols<00:05:18.990> so 00:05:19.190 --> 00:05:19.200 align:start position:0% connects those different protocols so 00:05:19.200 --> 00:05:21.950 align:start position:0% connects those different protocols so men<00:05:19.740> and<00:05:19.890> allows<00:05:20.100> you<00:05:20.310> to<00:05:20.520> manage<00:05:21.180> crypto 00:05:21.950 --> 00:05:21.960 align:start position:0% men and allows you to manage crypto 00:05:21.960 --> 00:05:25.490 align:start position:0% men and allows you to manage crypto assets<00:05:22.910> trade<00:05:23.910> on<00:05:24.210> decentralized<00:05:24.900> exchanges 00:05:25.490 --> 00:05:25.500 align:start position:0% assets trade on decentralized exchanges 00:05:25.500 --> 00:05:28.370 align:start position:0% assets trade on decentralized exchanges in<00:05:26.490> the<00:05:26.610> future<00:05:26.910> we<00:05:27.150> envision<00:05:27.380> integration 00:05:28.370 --> 00:05:28.380 align:start position:0% in the future we envision integration 00:05:28.380 --> 00:05:32.150 align:start position:0% in the future we envision integration with<00:05:29.060> credit<00:05:30.080> lending<00:05:31.080> Unchained<00:05:31.650> merging 00:05:32.150 --> 00:05:32.160 align:start position:0% with credit lending Unchained merging 00:05:32.160 --> 00:05:34.820 align:start position:0% with credit lending Unchained merging derivatives<00:05:32.970> all<00:05:33.780> those<00:05:34.200> type<00:05:34.410> of<00:05:34.440> new 00:05:34.820 --> 00:05:34.830 align:start position:0% derivatives all those type of new 00:05:34.830 --> 00:05:38.120 align:start position:0% derivatives all those type of new protocols<00:05:35.400> that<00:05:35.970> we've<00:05:36.210> seen<00:05:36.480> and<00:05:36.950> we<00:05:37.950> have 00:05:38.120 --> 00:05:38.130 align:start position:0% protocols that we've seen and we have 00:05:38.130 --> 00:05:40.400 align:start position:0% protocols that we've seen and we have also<00:05:38.310> people<00:05:38.760> working<00:05:39.180> on<00:05:39.420> blockchain<00:05:39.960> based 00:05:40.400 --> 00:05:40.410 align:start position:0% also people working on blockchain based 00:05:40.410 --> 00:05:43.370 align:start position:0% also people working on blockchain based identity<00:05:41.130> systems<00:05:41.520> which<00:05:42.060> is<00:05:42.380> really 00:05:43.370 --> 00:05:43.380 align:start position:0% identity systems which is really 00:05:43.380 --> 00:05:44.930 align:start position:0% identity systems which is really important<00:05:43.890> if<00:05:44.070> you<00:05:44.220> want<00:05:44.250> to<00:05:44.460> be<00:05:44.610> able<00:05:44.700> to 00:05:44.930 --> 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get into the subject of today 00:05:53.630 --> 00:05:57.800 align:start position:0% actually get into the subject of today so<00:05:54.630> when<00:05:55.260> we<00:05:55.380> design<00:05:55.680> a<00:05:56.220> system<00:05:56.420> that<00:05:57.420> needs<00:05:57.600> to 00:05:57.800 --> 00:05:57.810 align:start position:0% so when we design a system that needs to 00:05:57.810 --> 00:06:00.460 align:start position:0% so when we design a system that needs to be<00:05:57.840> self<00:05:58.200> sustainable<00:05:58.650> and<00:05:58.950> decentralized 00:06:00.460 --> 00:06:00.470 align:start position:0% be self sustainable and decentralized 00:06:00.470 --> 00:06:02.720 align:start position:0% be self sustainable and decentralized what<00:06:01.470> you<00:06:01.560> really<00:06:01.830> want<00:06:02.010> to<00:06:02.100> do<00:06:02.220> is<00:06:02.460> identify 00:06:02.720 --> 00:06:02.730 align:start position:0% what you really want to do is identify 00:06:02.730 --> 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00:06:11.100 align:start position:0% you know catters to the needs of each of 00:06:11.100 --> 00:06:14.000 align:start position:0% you know catters to the needs of each of your<00:06:11.250> stakeholders<00:06:11.520> so<00:06:12.180> for<00:06:12.840> in<00:06:13.200> our<00:06:13.440> case<00:06:13.770> we 00:06:14.000 --> 00:06:14.010 align:start position:0% your stakeholders so for in our case we 00:06:14.010 --> 00:06:15.440 align:start position:0% your stakeholders so for in our case we have<00:06:14.130> a<00:06:14.160> couple<00:06:14.250> of<00:06:14.520> stakeholders<00:06:15.090> and<00:06:15.120> they 00:06:15.440 --> 00:06:15.450 align:start position:0% have a couple of stakeholders and they 00:06:15.450 --> 00:06:18.650 align:start position:0% have a couple of stakeholders and they are<00:06:15.600> the<00:06:16.230> token<00:06:16.560> holders<00:06:16.890> the<00:06:17.880> project<00:06:18.420> and 00:06:18.650 --> 00:06:18.660 align:start position:0% are the token holders the project and 00:06:18.660 --> 00:06:22.250 align:start position:0% are the token holders the project and developers<00:06:19.500> who<00:06:20.160> build<00:06:20.370> on<00:06:20.580> top<00:06:20.790> of<00:06:20.850> Mellon<00:06:21.330> we 00:06:22.250 --> 00:06:22.260 align:start position:0% developers who build on top of Mellon we 00:06:22.260 --> 00:06:25.670 align:start position:0% developers who build on top of Mellon we have<00:06:22.470> the<00:06:22.860> users<00:06:23.220> and<00:06:24.120> we<00:06:24.360> have<00:06:24.680> the 00:06:25.670 --> 00:06:25.680 align:start position:0% have the users and we have the 00:06:25.680 --> 00:06:27.020 align:start position:0% have the users and we have the maintainer<00:06:26.100> the<00:06:26.370> people<00:06:26.640> who<00:06:26.730> are<00:06:26.820> going<00:06:26.970> to 00:06:27.020 --> 00:06:27.030 align:start position:0% maintainer the people who are going to 00:06:27.030 --> 00:06:29.630 align:start position:0% maintainer the people who are going to make<00:06:27.150> decisions<00:06:27.720> in<00:06:27.930> the<00:06:28.050> future<00:06:28.350> for<00:06:29.310> the 00:06:29.630 --> 00:06:29.640 align:start position:0% make decisions in the future for the 00:06:29.640 --> 00:06:31.730 align:start position:0% make decisions in the future for the protocol<00:06:30.060> so<00:06:30.510> throughout<00:06:31.140> this<00:06:31.410> presentation 00:06:31.730 --> 00:06:31.740 align:start position:0% protocol so throughout this presentation 00:06:31.740 --> 00:06:35.300 align:start position:0% protocol so throughout this presentation we're<00:06:32.400> going<00:06:32.610> to<00:06:32.670> see<00:06:32.880> how<00:06:33.450> we<00:06:33.990> make<00:06:34.410> sure<00:06:34.740> that 00:06:35.300 --> 00:06:35.310 align:start position:0% we're going to see how we make sure that 00:06:35.310 --> 00:06:38.719 align:start position:0% we're going to see how we make sure that we<00:06:36.110> that<00:06:37.110> we<00:06:37.140> cater<00:06:37.440> to<00:06:37.560> the<00:06:37.710> needs<00:06:37.800> of<00:06:38.160> all 00:06:38.719 --> 00:06:38.729 align:start position:0% we that we cater to the needs of all 00:06:38.729 --> 00:06:42.110 align:start position:0% we that we cater to the needs of all those<00:06:38.909> stakeholders<00:06:40.009> so<00:06:41.009> first<00:06:41.279> of<00:06:41.460> all<00:06:41.550> we 00:06:42.110 --> 00:06:42.120 align:start position:0% those stakeholders so first of all we 00:06:42.120 --> 00:06:44.239 align:start position:0% those stakeholders so first of all we want<00:06:42.330> to<00:06:42.479> be<00:06:42.599> able<00:06:42.779> to<00:06:42.990> maximize<00:06:43.319> the<00:06:43.919> network 00:06:44.239 --> 00:06:44.249 align:start position:0% want to be able to maximize the network 00:06:44.249 --> 00:06:47.299 align:start position:0% want to be able to maximize the network effect<00:06:44.870> in<00:06:45.870> the<00:06:46.080> past<00:06:46.439> couple<00:06:46.650> of<00:06:46.770> months<00:06:47.009> we 00:06:47.299 --> 00:06:47.309 align:start position:0% effect in the past couple of months we 00:06:47.309 --> 00:06:50.719 align:start position:0% effect in the past couple of months we have<00:06:47.520> seen<00:06:48.860> more<00:06:49.860> and<00:06:49.919> more<00:06:50.219> projects 00:06:50.719 --> 00:06:50.729 align:start position:0% have seen more and more projects 00:06:50.729 --> 00:06:53.299 align:start position:0% have seen more and more projects reaching<00:06:51.150> out<00:06:51.330> to<00:06:51.509> us<00:06:51.889> projects<00:06:52.889> and<00:06:53.039> team 00:06:53.299 --> 00:06:53.309 align:start position:0% reaching out to us projects and team 00:06:53.309 --> 00:06:55.909 align:start position:0% reaching out to us projects and team wanting<00:06:53.699> to<00:06:53.849> build<00:06:54.089> new<00:06:54.990> things<00:06:55.319> on<00:06:55.559> top<00:06:55.860> of 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position:0% asset management has a lot of shoes 00:07:02.639 --> 00:07:05.390 align:start position:0% asset management has a lot of shoes cases<00:07:03.120> we<00:07:03.809> are<00:07:03.839> focusing<00:07:04.559> on<00:07:04.800> the<00:07:04.979> headphone 00:07:05.390 --> 00:07:05.400 align:start position:0% cases we are focusing on the headphone 00:07:05.400 --> 00:07:08.540 align:start position:0% cases we are focusing on the headphone use<00:07:05.580> case<00:07:05.789> but<00:07:06.089> you<00:07:06.629> can<00:07:06.809> have<00:07:07.249> VC<00:07:08.249> funds 00:07:08.540 --> 00:07:08.550 align:start position:0% use case but you can have VC funds 00:07:08.550 --> 00:07:11.659 align:start position:0% use case but you can have VC funds pension<00:07:08.999> funds<00:07:09.539> insurance<00:07:09.960> funds<00:07:10.589> we<00:07:11.520> also 00:07:11.659 --> 00:07:11.669 align:start position:0% pension funds insurance funds we also 00:07:11.669 --> 00:07:13.309 align:start position:0% pension funds insurance funds we also have<00:07:11.909> people<00:07:12.210> working<00:07:12.389> on<00:07:12.689> the<00:07:12.899> gamification 00:07:13.309 --> 00:07:13.319 align:start position:0% have people working on the gamification 00:07:13.319 --> 00:07:17.540 align:start position:0% have people working on the gamification of<00:07:13.919> Asset<00:07:14.309> Management's<00:07:15.169> and<00:07:16.219> it's<00:07:17.219> it's 00:07:17.540 --> 00:07:17.550 align:start position:0% of Asset Management's and it's it's 00:07:17.550 --> 00:07:19.670 align:start position:0% of Asset Management's and it's it's really<00:07:17.789> nice<00:07:17.969> but<00:07:18.360> the<00:07:18.719> problem<00:07:19.050> is<00:07:19.139> that<00:07:19.319> each 00:07:19.670 --> 00:07:19.680 align:start position:0% really nice but the problem is that each 00:07:19.680 --> 00:07:22.730 align:start position:0% really nice but the problem is that each of<00:07:19.740> this<00:07:20.099> project<00:07:20.779> needs<00:07:21.779> to<00:07:21.990> get<00:07:22.139> funding<00:07:22.559> and 00:07:22.730 --> 00:07:22.740 align:start position:0% of this project needs to get funding and 00:07:22.740 --> 00:07:25.519 align:start position:0% of this project needs to get funding and what<00:07:23.309> they<00:07:23.399> plan<00:07:23.639> to<00:07:23.669> do<00:07:23.939> rightfully<00:07:24.809> so<00:07:24.990> is<00:07:25.259> to 00:07:25.519 --> 00:07:25.529 align:start position:0% what they plan to do rightfully so is to 00:07:25.529 --> 00:07:28.879 align:start position:0% what they plan to do rightfully so is to run<00:07:26.370> another<00:07:26.879> ICO<00:07:27.509> to<00:07:27.689> get<00:07:27.839> funding<00:07:28.259> and<00:07:28.469> what 00:07:28.879 --> 00:07:28.889 align:start position:0% run another ICO to get funding and what 00:07:28.889 --> 00:07:30.110 align:start position:0% run another ICO to get funding and what you<00:07:28.979> get<00:07:29.159> with<00:07:29.370> that<00:07:29.399> is<00:07:29.580> that<00:07:29.909> you<00:07:29.969> get 00:07:30.110 --> 00:07:30.120 align:start position:0% you get with that is that you get 00:07:30.120 --> 00:07:32.629 align:start position:0% you get with that is that you get different<00:07:30.839> projects<00:07:31.409> sharing<00:07:32.249> the<00:07:32.399> same 00:07:32.629 --> 00:07:32.639 align:start position:0% different projects sharing the same 00:07:32.639 --> 00:07:35.149 align:start position:0% different projects sharing the same underlying<00:07:33.149> infrastructure<00:07:33.899> but<00:07:34.740> each<00:07:34.889> of 00:07:35.149 --> 00:07:35.159 align:start position:0% underlying infrastructure but each of 00:07:35.159 --> 00:07:38.029 align:start position:0% underlying infrastructure but each of that<00:07:35.339> project<00:07:35.789> has<00:07:35.909> a<00:07:36.240> token<00:07:37.139> a<00:07:37.439> token 00:07:38.029 --> 00:07:38.039 align:start position:0% that project has a token a token 00:07:38.039 --> 00:07:40.610 align:start position:0% that project has a token a token economic<00:07:38.520> a<00:07:38.789> different<00:07:39.569> governance<00:07:39.990> system<00:07:40.349> a 00:07:40.610 --> 00:07:40.620 align:start position:0% economic a different governance system a 00:07:40.620 --> 00:07:43.010 align:start position:0% economic a different governance system a different<00:07:41.039> maintenance<00:07:41.729> system<00:07:42.120> so<00:07:42.360> you<00:07:42.810> have 00:07:43.010 --> 00:07:43.020 align:start position:0% different maintenance system so you have 00:07:43.020 --> 00:07:47.659 align:start position:0% different maintenance system so you have one<00:07:43.919> infrastructure<00:07:44.639> but<00:07:44.939> isolated<00:07:46.669> isolated 00:07:47.659 --> 00:07:47.669 align:start position:0% one infrastructure but isolated isolated 00:07:47.669 --> 00:07:51.159 align:start position:0% one infrastructure but isolated isolated sub<00:07:48.089> ecosystems<00:07:48.839> and<00:07:49.110> that<00:07:49.770> we<00:07:50.129> believe<00:07:50.370> is 00:07:51.159 --> 00:07:51.169 align:start position:0% sub ecosystems and that we believe is 00:07:51.169 --> 00:07:54.350 align:start position:0% sub ecosystems and that we believe is not<00:07:52.169> great<00:07:52.499> because<00:07:53.009> we<00:07:53.310> think<00:07:53.520> isolation 00:07:54.350 --> 00:07:54.360 align:start position:0% not great because we think isolation 00:07:54.360 --> 00:07:58.189 align:start position:0% not great because we think isolation brings<00:07:54.719> in<00:07:54.959> efficiencies<00:07:55.830> so<00:07:56.099> if<00:07:57.060> we<00:07:57.599> have<00:07:57.870> if 00:07:58.189 --> 00:07:58.199 align:start position:0% brings in efficiencies so if we have if 00:07:58.199 --> 00:08:02.570 align:start position:0% brings in efficiencies so if we have if we<00:07:58.379> find<00:07:58.560> a<00:07:58.680> way<00:07:58.709> to<00:08:00.709> to<00:08:01.709> actually<00:08:02.219> have 00:08:02.570 --> 00:08:02.580 align:start position:0% we find a way to to actually have 00:08:02.580 --> 00:08:05.029 align:start position:0% we find a way to to actually have synergies<00:08:03.209> between<00:08:03.569> those<00:08:04.169> projects<00:08:04.740> and<00:08:04.889> to 00:08:05.029 --> 00:08:05.039 align:start position:0% synergies between those projects and to 00:08:05.039 --> 00:08:06.769 align:start position:0% synergies between those projects and to make<00:08:05.159> it<00:08:05.279> so<00:08:05.399> that<00:08:05.430> they<00:08:05.639> can<00:08:05.819> share<00:08:06.029> more<00:08:06.719> than 00:08:06.769 --> 00:08:06.779 align:start position:0% make it so that they can share more than 00:08:06.779 --> 00:08:09.290 align:start position:0% make it so that they can share more than just<00:08:07.319> the<00:08:07.620> infrastructure<00:08:08.159> we<00:08:08.849> believe<00:08:09.120> that 00:08:09.290 --> 00:08:09.300 align:start position:0% just the infrastructure we believe that 00:08:09.300 --> 00:08:11.269 align:start position:0% just the infrastructure we believe that all<00:08:09.599> of<00:08:09.809> our<00:08:09.899> ecosystem<00:08:10.620> could<00:08:10.800> benefit<00:08:11.219> from 00:08:11.269 --> 00:08:11.279 align:start position:0% all of our ecosystem could benefit from 00:08:11.279 --> 00:08:15.499 align:start position:0% all of our ecosystem could benefit from economies<00:08:12.149> of<00:08:12.599> scale<00:08:13.009> so<00:08:14.270> earlier<00:08:15.270> this<00:08:15.449> year 00:08:15.499 --> 00:08:15.509 align:start position:0% economies of scale so earlier this year 00:08:15.509 --> 00:08:18.409 align:start position:0% economies of scale so earlier this year we<00:08:15.899> decided<00:08:16.020> to<00:08:16.379> open<00:08:16.800> up<00:08:17.009> the<00:08:17.370> melon<00:08:17.909> token<00:08:18.209> to 00:08:18.409 --> 00:08:18.419 align:start position:0% we decided to open up the melon token to 00:08:18.419 --> 00:08:22.189 align:start position:0% we decided to open up the melon token to other<00:08:18.599> teams<00:08:19.020> and<00:08:19.229> other<00:08:19.379> projects<00:08:20.569> in<00:08:21.569> order 00:08:22.189 --> 00:08:22.199 align:start position:0% other teams and other projects in order 00:08:22.199 --> 00:08:26.179 align:start position:0% other teams and other projects in order to<00:08:22.669> to<00:08:23.669> to<00:08:24.029> benefit<00:08:24.539> from<00:08:24.719> synergies<00:08:25.589> so 00:08:26.179 --> 00:08:26.189 align:start position:0% to to to benefit from synergies so 00:08:26.189 --> 00:08:28.519 align:start position:0% to to to benefit from synergies so basically<00:08:26.729> the<00:08:27.330> melon<00:08:27.599> token<00:08:27.899> has<00:08:28.050> a<00:08:28.110> yearly 00:08:28.519 --> 00:08:28.529 align:start position:0% basically the melon token has a yearly 00:08:28.529 --> 00:08:30.739 align:start position:0% basically the melon token has a yearly inflation<00:08:29.219> pool<00:08:29.430> which<00:08:29.969> is<00:08:29.999> a<00:08:30.149> fixed<00:08:30.419> amount 00:08:30.739 --> 00:08:30.749 align:start position:0% inflation pool which is a fixed amount 00:08:30.749 --> 00:08:34.689 align:start position:0% inflation pool which is a fixed amount of<00:08:30.930> token<00:08:31.319> that<00:08:31.349> gets<00:08:32.599> minted<00:08:33.599> each<00:08:33.810> year<00:08:34.260> and 00:08:34.689 --> 00:08:34.699 align:start position:0% of token that gets minted each year and 00:08:34.699 --> 00:08:37.009 align:start position:0% of token that gets minted each year and this<00:08:35.699> inflation<00:08:36.089> pool<00:08:36.360> is<00:08:36.479> going<00:08:36.630> to<00:08:36.719> be<00:08:36.779> used 00:08:37.009 --> 00:08:37.019 align:start position:0% this inflation pool is going to be used 00:08:37.019 --> 00:08:40.189 align:start position:0% this inflation pool is going to be used to<00:08:37.440> to<00:08:38.370> fund<00:08:38.610> different<00:08:38.760> things<00:08:39.630> so<00:08:39.870> the<00:08:39.959> first 00:08:40.189 --> 00:08:40.199 align:start position:0% to to fund different things so the first 00:08:40.199 --> 00:08:43.009 align:start position:0% to to fund different things so the first thing<00:08:40.380> is<00:08:41.240> compensating<00:08:42.240> developers<00:08:42.779> who 00:08:43.009 --> 00:08:43.019 align:start position:0% thing is compensating developers who 00:08:43.019 --> 00:08:45.129 align:start position:0% thing is compensating developers who complete<00:08:43.380> ma<00:08:43.680> peas<00:08:43.889> which<00:08:44.190> are<00:08:44.370> melon 00:08:45.129 --> 00:08:45.139 align:start position:0% complete ma peas which are melon 00:08:45.139 --> 00:08:47.809 align:start position:0% complete ma peas which are melon improvement<00:08:46.139> proposal<00:08:46.680> inspired<00:08:47.069> by<00:08:47.339> the 00:08:47.809 --> 00:08:47.819 align:start position:0% improvement proposal inspired by the 00:08:47.819 --> 00:08:50.720 align:start position:0% improvement proposal inspired by the theorem<00:08:48.269> ifvs<00:08:49.100> so<00:08:50.100> if<00:08:50.279> you're<00:08:50.430> a<00:08:50.490> developer 00:08:50.720 --> 00:08:50.730 align:start position:0% theorem ifvs so if you're a developer 00:08:50.730 --> 00:08:51.650 align:start position:0% theorem ifvs so if you're a developer and<00:08:51.180> you<00:08:51.449> see 00:08:51.650 --> 00:08:51.660 align:start position:0% and you see 00:08:51.660 --> 00:08:53.689 align:start position:0% and you see that<00:08:51.779> there<00:08:51.959> is<00:08:52.079> this<00:08:52.350> future<00:08:52.980> like<00:08:53.459> yeah<00:08:53.670> I 00:08:53.689 --> 00:08:53.699 align:start position:0% that there is this future like yeah I 00:08:53.699 --> 00:08:55.610 align:start position:0% that there is this future like yeah I think<00:08:53.850> this<00:08:54.089> is<00:08:54.209> cool<00:08:54.420> I<00:08:54.600> want<00:08:54.839> to<00:08:55.050> solve<00:08:55.410> that 00:08:55.610 --> 00:08:55.620 align:start position:0% think this is cool I want to solve that 00:08:55.620 --> 00:08:57.499 align:start position:0% think this is cool I want to solve that problem<00:08:55.680> or<00:08:56.279> I<00:08:56.310> want<00:08:56.639> to<00:08:56.730> make<00:08:57.389> this 00:08:57.499 --> 00:08:57.509 align:start position:0% problem or I want to make this 00:08:57.509 --> 00:08:59.420 align:start position:0% problem or I want to make this integration<00:08:57.990> you<00:08:58.379> can<00:08:58.740> do<00:08:58.889> it<00:08:59.009> and<00:08:59.220> get 00:08:59.420 --> 00:08:59.430 align:start position:0% integration you can do it and get 00:08:59.430 --> 00:09:02.240 align:start position:0% integration you can do it and get compensated<00:09:00.029> in<00:09:00.360> melon<00:09:00.690> for<00:09:00.930> that<00:09:01.079> the<00:09:01.949> second 00:09:02.240 --> 00:09:02.250 align:start position:0% compensated in melon for that the second 00:09:02.250 --> 00:09:04.639 align:start position:0% compensated in melon for that the second thing<00:09:02.430> is<00:09:02.639> for<00:09:03.540> a<00:09:03.569> project<00:09:04.019> who<00:09:04.230> want<00:09:04.440> to<00:09:04.500> build 00:09:04.639 --> 00:09:04.649 align:start position:0% thing is for a project who want to build 00:09:04.649 --> 00:09:07.340 align:start position:0% thing is for a project who want to build on<00:09:04.829> melon<00:09:05.129> and<00:09:05.420> who<00:09:06.420> need<00:09:06.629> to<00:09:06.750> get<00:09:06.899> funding 00:09:07.340 --> 00:09:07.350 align:start position:0% on melon and who need to get funding 00:09:07.350 --> 00:09:09.650 align:start position:0% on melon and who need to get funding instead<00:09:08.160> of<00:09:08.370> doing<00:09:08.610> an<00:09:08.699> SEO<00:09:09.060> what<00:09:09.329> they<00:09:09.449> could 00:09:09.650 --> 00:09:09.660 align:start position:0% instead of doing an SEO what they could 00:09:09.660 --> 00:09:12.710 align:start position:0% instead of doing an SEO what they could do<00:09:09.810> is<00:09:10.250> make<00:09:11.250> a<00:09:11.279> funding<00:09:11.819> request<00:09:11.850> to<00:09:12.600> the 00:09:12.710 --> 00:09:12.720 align:start position:0% do is make a funding request to the 00:09:12.720 --> 00:09:15.949 align:start position:0% do is make a funding request to the melon<00:09:12.990> governance<00:09:13.560> system<00:09:13.970> and<00:09:14.970> if<00:09:15.389> the 00:09:15.949 --> 00:09:15.959 align:start position:0% melon governance system and if the 00:09:15.959 --> 00:09:18.019 align:start position:0% melon governance system and if the government<00:09:16.319> system<00:09:16.439> agrees<00:09:16.889> that<00:09:17.430> they<00:09:17.850> could 00:09:18.019 --> 00:09:18.029 align:start position:0% government system agrees that they could 00:09:18.029 --> 00:09:19.819 align:start position:0% government system agrees that they could get<00:09:18.180> their<00:09:18.329> funding<00:09:18.660> through<00:09:18.990> the<00:09:19.230> melon 00:09:19.819 --> 00:09:19.829 align:start position:0% get their funding through the melon 00:09:19.829 --> 00:09:23.300 align:start position:0% get their funding through the melon inflation<00:09:20.550> pool<00:09:21.139> and<00:09:22.139> the<00:09:22.560> third<00:09:22.769> thing<00:09:23.040> is<00:09:23.100> a 00:09:23.300 --> 00:09:23.310 align:start position:0% inflation pool and the third thing is a 00:09:23.310 --> 00:09:24.980 align:start position:0% inflation pool and the third thing is a little<00:09:23.579> bit<00:09:23.670> more<00:09:23.850> exotic<00:09:24.149> I<00:09:24.420> would<00:09:24.569> say<00:09:24.750> and 00:09:24.980 --> 00:09:24.990 align:start position:0% little bit more exotic I would say and 00:09:24.990 --> 00:09:27.759 align:start position:0% little bit more exotic I would say and maybe<00:09:25.139> a<00:09:25.290> little<00:09:25.470> bit<00:09:25.649> more<00:09:26.389> forward-thinking 00:09:27.759 --> 00:09:27.769 align:start position:0% maybe a little bit more forward-thinking 00:09:27.769 --> 00:09:30.800 align:start position:0% maybe a little bit more forward-thinking those<00:09:28.769> are<00:09:29.009> token<00:09:29.430> swaps<00:09:29.699> and<00:09:30.029> token<00:09:30.449> mergers 00:09:30.800 --> 00:09:30.810 align:start position:0% those are token swaps and token mergers 00:09:30.810 --> 00:09:33.920 align:start position:0% those are token swaps and token mergers inspired<00:09:31.769> by<00:09:32.040> what<00:09:32.579> happened<00:09:32.970> very<00:09:33.240> often<00:09:33.660> in 00:09:33.920 --> 00:09:33.930 align:start position:0% inspired by what happened very often in 00:09:33.930 --> 00:09:36.470 align:start position:0% inspired by what happened very often in the<00:09:34.500> traditional<00:09:35.000> investment<00:09:36.000> banking<00:09:36.300> world 00:09:36.470 --> 00:09:36.480 align:start position:0% the traditional investment banking world 00:09:36.480 --> 00:09:39.619 align:start position:0% the traditional investment banking world so<00:09:37.259> in<00:09:38.100> the<00:09:38.220> case<00:09:38.399> of<00:09:38.519> a<00:09:38.610> token<00:09:38.910> swap<00:09:39.089> it<00:09:39.420> would 00:09:39.619 --> 00:09:39.629 align:start position:0% so in the case of a token swap it would 00:09:39.629 --> 00:09:40.730 align:start position:0% so in the case of a token swap it would be<00:09:39.720> the<00:09:39.810> case<00:09:40.019> where<00:09:40.230> you<00:09:40.290> have<00:09:40.439> a<00:09:40.470> project 00:09:40.730 --> 00:09:40.740 align:start position:0% be the case where you have a project 00:09:40.740 --> 00:09:45.460 align:start position:0% be the case where you have a project that<00:09:41.220> already<00:09:41.850> has<00:09:42.060> a<00:09:42.089> token<00:09:42.569> and<00:09:43.279> we<00:09:44.279> identify 00:09:45.460 --> 00:09:45.470 align:start position:0% that already has a token and we identify 00:09:45.470 --> 00:09:48.319 align:start position:0% that already has a token and we identify potential<00:09:46.470> synergies<00:09:47.310> between<00:09:47.339> melon<00:09:48.089> and 00:09:48.319 --> 00:09:48.329 align:start position:0% potential synergies between melon and 00:09:48.329 --> 00:09:50.780 align:start position:0% potential synergies between melon and that<00:09:48.899> other<00:09:49.110> project<00:09:49.709> if<00:09:49.949> that<00:09:50.370> other<00:09:50.550> project 00:09:50.780 --> 00:09:50.790 align:start position:0% that other project if that other project 00:09:50.790 --> 00:09:53.059 align:start position:0% that other project if that other project has<00:09:51.089> a<00:09:51.120> smaller<00:09:51.449> smaller<00:09:52.110> market<00:09:52.589> cap<00:09:52.769> than 00:09:53.059 --> 00:09:53.069 align:start position:0% has a smaller smaller market cap than 00:09:53.069 --> 00:09:55.910 align:start position:0% has a smaller smaller market cap than melon<00:09:53.370> what<00:09:54.120> we<00:09:54.240> could<00:09:54.449> do<00:09:54.660> provided<00:09:55.589> that 00:09:55.910 --> 00:09:55.920 align:start position:0% melon what we could do provided that 00:09:55.920 --> 00:09:59.629 align:start position:0% melon what we could do provided that both<00:09:56.370> governance<00:09:57.300> systems<00:09:57.720> pre<00:09:58.380> agree<00:09:58.709> to<00:09:58.949> it 00:09:59.629 --> 00:09:59.639 align:start position:0% both governance systems pre agree to it 00:09:59.639 --> 00:10:01.759 align:start position:0% both governance systems pre agree to it this<00:10:00.360> project<00:10:00.810> could<00:10:00.930> burn<00:10:01.170> all<00:10:01.439> of<00:10:01.500> their 00:10:01.759 --> 00:10:01.769 align:start position:0% this project could burn all of their 00:10:01.769 --> 00:10:03.889 align:start position:0% this project could burn all of their token<00:10:02.160> and<00:10:02.339> in<00:10:02.850> exchange<00:10:03.300> they<00:10:03.509> could<00:10:03.689> get 00:10:03.889 --> 00:10:03.899 align:start position:0% token and in exchange they could get 00:10:03.899 --> 00:10:07.069 align:start position:0% token and in exchange they could get melon<00:10:04.860> token<00:10:05.220> and<00:10:05.430> we<00:10:05.670> kind<00:10:05.880> of<00:10:06.000> like<00:10:06.209> join 00:10:07.069 --> 00:10:07.079 align:start position:0% melon token and we kind of like join 00:10:07.079 --> 00:10:09.350 align:start position:0% melon token and we kind of like join forces<00:10:07.529> between<00:10:08.399> the<00:10:08.610> two<00:10:08.759> project<00:10:09.209> and 00:10:09.350 --> 00:10:09.360 align:start position:0% forces between the two project and 00:10:09.360 --> 00:10:12.290 align:start position:0% forces between the two project and creates<00:10:09.630> the<00:10:10.019> stronger<00:10:10.529> and<00:10:11.300> bigger 00:10:12.290 --> 00:10:12.300 align:start position:0% creates the stronger and bigger 00:10:12.300 --> 00:10:14.720 align:start position:0% creates the stronger and bigger ecosystem<00:10:13.079> and<00:10:13.740> the<00:10:14.130> last<00:10:14.279> thing<00:10:14.459> is<00:10:14.610> the 00:10:14.720 --> 00:10:14.730 align:start position:0% ecosystem and the last thing is the 00:10:14.730 --> 00:10:17.420 align:start position:0% ecosystem and the last thing is the token<00:10:14.939> the<00:10:15.839> token<00:10:16.110> merger<00:10:16.410> request<00:10:16.769> so<00:10:17.310> that 00:10:17.420 --> 00:10:17.430 align:start position:0% token the token merger request so that 00:10:17.430 --> 00:10:18.679 align:start position:0% token the token merger request so that is<00:10:17.550> the<00:10:17.670> case<00:10:17.819> that<00:10:17.850> you<00:10:18.029> have<00:10:18.120> another 00:10:18.679 --> 00:10:18.689 align:start position:0% is the case that you have another 00:10:18.689 --> 00:10:20.840 align:start position:0% is the case that you have another project<00:10:18.990> that<00:10:19.560> has<00:10:19.709> another<00:10:20.009> token<00:10:20.490> but<00:10:20.730> it's 00:10:20.840 --> 00:10:20.850 align:start position:0% project that has another token but it's 00:10:20.850 --> 00:10:22.730 align:start position:0% project that has another token but it's like<00:10:21.060> the<00:10:21.480> project<00:10:21.899> of<00:10:22.019> a<00:10:22.139> similar<00:10:22.500> size 00:10:22.730 --> 00:10:22.740 align:start position:0% like the project of a similar size 00:10:22.740 --> 00:10:26.240 align:start position:0% like the project of a similar size similar<00:10:23.569> market<00:10:24.569> cap<00:10:24.750> and<00:10:24.990> in<00:10:25.079> that<00:10:25.259> case<00:10:25.560> this 00:10:26.240 --> 00:10:26.250 align:start position:0% similar market cap and in that case this 00:10:26.250 --> 00:10:28.429 align:start position:0% similar market cap and in that case this would<00:10:26.459> not<00:10:26.639> require<00:10:27.120> anything<00:10:27.990> from<00:10:28.290> the 00:10:28.429 --> 00:10:28.439 align:start position:0% would not require anything from the 00:10:28.439 --> 00:10:30.650 align:start position:0% would not require anything from the inflation<00:10:28.649> actually<00:10:29.130> it<00:10:29.730> would<00:10:30.209> just<00:10:30.389> require 00:10:30.650 --> 00:10:30.660 align:start position:0% inflation actually it would just require 00:10:30.660 --> 00:10:33.559 align:start position:0% inflation actually it would just require both<00:10:31.110> projects<00:10:31.649> to<00:10:31.860> actually<00:10:32.310> just<00:10:32.579> burn 00:10:33.559 --> 00:10:33.569 align:start position:0% both projects to actually just burn 00:10:33.569 --> 00:10:35.840 align:start position:0% both projects to actually just burn their<00:10:33.870> tokens<00:10:34.259> in<00:10:34.500> order<00:10:35.130> to<00:10:35.309> create<00:10:35.550> a<00:10:35.819> new 00:10:35.840 --> 00:10:35.850 align:start position:0% their tokens in order to create a new 00:10:35.850 --> 00:10:39.620 align:start position:0% their tokens in order to create a new token<00:10:36.569> that<00:10:37.189> encompasses<00:10:38.189> both<00:10:38.639> economies 00:10:39.620 --> 00:10:39.630 align:start position:0% token that encompasses both economies 00:10:39.630 --> 00:10:44.660 align:start position:0% token that encompasses both economies and<00:10:40.050> both<00:10:40.259> communities<00:10:41.000> so<00:10:43.189> opening<00:10:44.189> up<00:10:44.370> the 00:10:44.660 --> 00:10:44.670 align:start position:0% and both communities so opening up the 00:10:44.670 --> 00:10:46.610 align:start position:0% and both communities so opening up the melon<00:10:44.970> token<00:10:45.300> allows<00:10:45.630> us<00:10:45.839> to<00:10:46.079> benefit<00:10:46.410> from 00:10:46.610 --> 00:10:46.620 align:start position:0% melon token allows us to benefit from 00:10:46.620 --> 00:10:50.720 align:start position:0% melon token allows us to benefit from synergies<00:10:47.839> but<00:10:48.839> also<00:10:49.079> to<00:10:49.350> to<00:10:50.250> align<00:10:50.519> the 00:10:50.720 --> 00:10:50.730 align:start position:0% synergies but also to to align the 00:10:50.730 --> 00:10:53.119 align:start position:0% synergies but also to to align the interest<00:10:51.120> of<00:10:51.300> the<00:10:51.509> participants<00:10:52.079> across<00:10:52.889> the 00:10:53.119 --> 00:10:53.129 align:start position:0% interest of the participants across the 00:10:53.129 --> 00:10:56.840 align:start position:0% interest of the participants across the networks<00:10:53.519> so<00:10:54.089> this<00:10:54.269> part<00:10:55.250> caters<00:10:56.250> to<00:10:56.370> the 00:10:56.840 --> 00:10:56.850 align:start position:0% networks so this part caters to the 00:10:56.850 --> 00:10:59.389 align:start position:0% networks so this part caters to the needs<00:10:56.879> of<00:10:57.269> the<00:10:57.509> project<00:10:57.899> and<00:10:58.439> developers<00:10:59.129> that 00:10:59.389 --> 00:10:59.399 align:start position:0% needs of the project and developers that 00:10:59.399 --> 00:11:03.980 align:start position:0% needs of the project and developers that build<00:11:00.120> on<00:11:00.689> top<00:11:01.680> of<00:11:01.740> melon<00:11:02.399> so<00:11:03.149> now<00:11:03.660> that<00:11:03.720> we 00:11:03.980 --> 00:11:03.990 align:start position:0% build on top of melon so now that we 00:11:03.990 --> 00:11:04.940 align:start position:0% build on top of melon so now that we have<00:11:04.019> seen 00:11:04.940 --> 00:11:04.950 align:start position:0% have seen 00:11:04.950 --> 00:11:07.580 align:start position:0% have seen to<00:11:05.100> maximize<00:11:05.490> Network<00:11:05.880> effects<00:11:06.240> we<00:11:07.230> actually 00:11:07.580 --> 00:11:07.590 align:start position:0% to maximize Network effects we actually 00:11:07.590 --> 00:11:09.590 align:start position:0% to maximize Network effects we actually compensate<00:11:07.890> people<00:11:08.190> with<00:11:08.460> melon<00:11:08.760> tokens<00:11:09.120> we 00:11:09.590 --> 00:11:09.600 align:start position:0% compensate people with melon tokens we 00:11:09.600 --> 00:11:12.290 align:start position:0% compensate people with melon tokens we need<00:11:09.750> to<00:11:09.840> make<00:11:10.020> sure<00:11:10.050> that<00:11:10.710> we<00:11:11.460> build<00:11:11.640> in<00:11:12.000> the 00:11:12.290 --> 00:11:12.300 align:start position:0% need to make sure that we build in the 00:11:12.300 --> 00:11:15.560 align:start position:0% need to make sure that we build in the right<00:11:12.860> the<00:11:13.860> right<00:11:14.070> economic<00:11:14.610> mechanism<00:11:15.420> in 00:11:15.560 --> 00:11:15.570 align:start position:0% right the right economic mechanism in 00:11:15.570 --> 00:11:17.810 align:start position:0% right the right economic mechanism in the<00:11:15.720> tokens<00:11:16.080> that<00:11:16.290> the<00:11:16.410> token<00:11:16.740> is<00:11:16.890> actually 00:11:17.810 --> 00:11:17.820 align:start position:0% the tokens that the token is actually 00:11:17.820 --> 00:11:20.270 align:start position:0% the tokens that the token is actually something<00:11:18.630> that<00:11:18.780> is<00:11:18.930> desirable<00:11:19.470> back<00:11:19.980> from 00:11:20.270 --> 00:11:20.280 align:start position:0% something that is desirable back from 00:11:20.280 --> 00:11:22.580 align:start position:0% something that is desirable back from those<00:11:20.700> developers<00:11:21.210> today<00:11:21.810> is<00:11:22.020> providing 00:11:22.580 --> 00:11:22.590 align:start position:0% those developers today is providing 00:11:22.590 --> 00:11:28.040 align:start position:0% those developers today is providing proper<00:11:22.830> economic<00:11:23.580> incentives<00:11:25.910> so<00:11:27.050> this 00:11:28.040 --> 00:11:28.050 align:start position:0% proper economic incentives so this 00:11:28.050 --> 00:11:30.440 align:start position:0% proper economic incentives so this relates<00:11:28.320> to<00:11:28.560> the<00:11:28.740> token<00:11:29.130> economic<00:11:29.880> design<00:11:30.150> so 00:11:30.440 --> 00:11:30.450 align:start position:0% relates to the token economic design so 00:11:30.450 --> 00:11:32.660 align:start position:0% relates to the token economic design so when<00:11:30.690> we<00:11:30.810> were<00:11:30.960> working<00:11:31.350> on<00:11:31.470> that<00:11:31.620> we<00:11:31.980> really 00:11:32.660 --> 00:11:32.670 align:start position:0% when we were working on that we really 00:11:32.670 --> 00:11:34.940 align:start position:0% when we were working on that we really had<00:11:32.880> three<00:11:33.660> goals<00:11:33.960> in<00:11:34.170> mind<00:11:34.380> that<00:11:34.590> we<00:11:34.680> wanted 00:11:34.940 --> 00:11:34.950 align:start position:0% had three goals in mind that we wanted 00:11:34.950 --> 00:11:38.060 align:start position:0% had three goals in mind that we wanted to<00:11:35.190> fulfill<00:11:36.000> the<00:11:36.870> first<00:11:37.110> one<00:11:37.260> was<00:11:37.470> ensuring 00:11:38.060 --> 00:11:38.070 align:start position:0% to fulfill the first one was ensuring 00:11:38.070 --> 00:11:40.730 align:start position:0% to fulfill the first one was ensuring that<00:11:38.130> the<00:11:38.370> melon<00:11:38.670> token<00:11:39.030> would<00:11:39.810> be<00:11:39.960> desirable 00:11:40.730 --> 00:11:40.740 align:start position:0% that the melon token would be desirable 00:11:40.740 --> 00:11:44.090 align:start position:0% that the melon token would be desirable and<00:11:41.070> we'd<00:11:41.250> have<00:11:41.430> integrity<00:11:42.380> in<00:11:43.380> order<00:11:43.800> to<00:11:44.010> be 00:11:44.090 --> 00:11:44.100 align:start position:0% and we'd have integrity in order to be 00:11:44.100 --> 00:11:46.130 align:start position:0% and we'd have integrity in order to be able<00:11:44.190> to<00:11:44.340> provide<00:11:44.760> proper<00:11:45.480> economic 00:11:46.130 --> 00:11:46.140 align:start position:0% able to provide proper economic 00:11:46.140 --> 00:11:48.830 align:start position:0% able to provide proper economic incentives<00:11:47.040> to<00:11:47.580> the<00:11:47.820> user<00:11:48.060> and<00:11:48.420> developer 00:11:48.830 --> 00:11:48.840 align:start position:0% incentives to the user and developer 00:11:48.840 --> 00:11:52.400 align:start position:0% incentives to the user and developer needs<00:11:49.290> of<00:11:49.530> the<00:11:49.770> network<00:11:50.100> and<00:11:51.050> last<00:11:52.050> but<00:11:52.290> not 00:11:52.400 --> 00:11:52.410 align:start position:0% needs of the network and last but not 00:11:52.410 --> 00:11:54.620 align:start position:0% needs of the network and last but not least<00:11:52.710> we<00:11:53.010> also<00:11:53.040> wanted<00:11:53.820> to<00:11:53.850> avoid<00:11:54.420> the 00:11:54.620 --> 00:11:54.630 align:start position:0% least we also wanted to avoid the 00:11:54.630 --> 00:11:56.900 align:start position:0% least we also wanted to avoid the pitfalls<00:11:54.840> of<00:11:55.230> the<00:11:55.290> high<00:11:55.590> velocity<00:11:55.910> token 00:11:56.900 --> 00:11:56.910 align:start position:0% pitfalls of the high velocity token 00:11:56.910 --> 00:11:59.530 align:start position:0% pitfalls of the high velocity token model<00:11:57.180> which<00:11:57.360> is<00:11:57.570> a<00:11:57.600> problem<00:11:58.200> that<00:11:58.410> has<00:11:58.620> been 00:11:59.530 --> 00:11:59.540 align:start position:0% model which is a problem that has been 00:11:59.540 --> 00:12:02.330 align:start position:0% model which is a problem that has been written<00:12:00.540> a<00:12:00.900> lot<00:12:01.110> about<00:12:01.320> by<00:12:01.740> different<00:12:02.190> people 00:12:02.330 --> 00:12:02.340 align:start position:0% written a lot about by different people 00:12:02.340 --> 00:12:04.760 align:start position:0% written a lot about by different people such<00:12:02.790> as<00:12:02.820> vitalik<00:12:03.600> or<00:12:03.780> Chris<00:12:04.170> furnace<00:12:04.470> key<00:12:04.650> or 00:12:04.760 --> 00:12:04.770 align:start position:0% such as vitalik or Chris furnace key or 00:12:04.770 --> 00:12:08.480 align:start position:0% such as vitalik or Chris furnace key or others<00:12:05.130> we<00:12:05.900> published<00:12:06.900> a<00:12:07.140> very<00:12:07.500> long<00:12:08.160> and 00:12:08.480 --> 00:12:08.490 align:start position:0% others we published a very long and 00:12:08.490 --> 00:12:10.100 align:start position:0% others we published a very long and detailed<00:12:08.670> blog<00:12:09.120> on<00:12:09.330> that<00:12:09.510> if<00:12:09.720> you<00:12:09.930> are 00:12:10.100 --> 00:12:10.110 align:start position:0% detailed blog on that if you are 00:12:10.110 --> 00:12:13.400 align:start position:0% detailed blog on that if you are interested<00:12:10.980> on<00:12:11.460> that<00:12:11.490> part<00:12:11.970> so<00:12:12.870> with<00:12:13.260> these 00:12:13.400 --> 00:12:13.410 align:start position:0% interested on that part so with these 00:12:13.410 --> 00:12:16.790 align:start position:0% interested on that part so with these goals<00:12:13.710> in<00:12:13.950> mind<00:12:14.190> our<00:12:14.630> solution<00:12:15.630> to<00:12:15.900> the<00:12:16.470> token 00:12:16.790 --> 00:12:16.800 align:start position:0% goals in mind our solution to the token 00:12:16.800 --> 00:12:20.080 align:start position:0% goals in mind our solution to the token economics<00:12:17.250> is<00:12:17.430> called<00:12:17.730> the<00:12:18.000> melon<00:12:18.480> engine<00:12:18.930> so 00:12:20.080 --> 00:12:20.090 align:start position:0% economics is called the melon engine so 00:12:20.090 --> 00:12:24.650 align:start position:0% economics is called the melon engine so let's<00:12:21.090> take<00:12:21.300> just<00:12:21.480> a<00:12:21.660> step<00:12:21.900> back<00:12:23.060> when<00:12:24.060> you<00:12:24.240> use 00:12:24.650 --> 00:12:24.660 align:start position:0% let's take just a step back when you use 00:12:24.660 --> 00:12:26.810 align:start position:0% let's take just a step back when you use when<00:12:25.470> you<00:12:25.530> interact<00:12:25.980> with<00:12:26.040> a<00:12:26.160> smart<00:12:26.400> contract 00:12:26.810 --> 00:12:26.820 align:start position:0% when you interact with a smart contract 00:12:26.820 --> 00:12:29.960 align:start position:0% when you interact with a smart contract on<00:12:27.030> aetherium<00:12:27.510> you<00:12:27.780> pay<00:12:27.990> if<00:12:28.830> you<00:12:29.130> pay<00:12:29.490> gas<00:12:29.760> to 00:12:29.960 --> 00:12:29.970 align:start position:0% on aetherium you pay if you pay gas to 00:12:29.970 --> 00:12:32.000 align:start position:0% on aetherium you pay if you pay gas to the<00:12:30.060> Ethier<00:12:30.390> network<00:12:30.780> and<00:12:31.080> that<00:12:31.500> gas<00:12:31.770> is 00:12:32.000 --> 00:12:32.010 align:start position:0% the Ethier network and that gas is 00:12:32.010 --> 00:12:34.460 align:start position:0% the Ethier network and that gas is calculated<00:12:32.670> as<00:12:32.850> the<00:12:33.600> number<00:12:33.870> of<00:12:33.960> gas<00:12:34.140> units 00:12:34.460 --> 00:12:34.470 align:start position:0% calculated as the number of gas units 00:12:34.470 --> 00:12:36.560 align:start position:0% calculated as the number of gas units that<00:12:34.680> are<00:12:35.100> consumed<00:12:35.670> by<00:12:35.910> the<00:12:35.970> function<00:12:36.420> that 00:12:36.560 --> 00:12:36.570 align:start position:0% that are consumed by the function that 00:12:36.570 --> 00:12:39.320 align:start position:0% that are consumed by the function that you're<00:12:36.690> calling<00:12:36.960> and<00:12:37.610> that<00:12:38.610> is<00:12:38.760> multiplied<00:12:39.300> by 00:12:39.320 --> 00:12:39.330 align:start position:0% you're calling and that is multiplied by 00:12:39.330 --> 00:12:43.280 align:start position:0% you're calling and that is multiplied by the<00:12:40.290> etherium<00:12:40.830> gas<00:12:41.190> price<00:12:41.520> right<00:12:41.880> so<00:12:42.810> we<00:12:43.140> came 00:12:43.280 --> 00:12:43.290 align:start position:0% the etherium gas price right so we came 00:12:43.290 --> 00:12:45.170 align:start position:0% the etherium gas price right so we came up<00:12:43.350> with<00:12:43.530> the<00:12:43.740> idea<00:12:44.100> that<00:12:44.400> when<00:12:44.730> you<00:12:44.850> interact 00:12:45.170 --> 00:12:45.180 align:start position:0% up with the idea that when you interact 00:12:45.180 --> 00:12:47.300 align:start position:0% up with the idea that when you interact with<00:12:45.330> melon<00:12:45.750> smart<00:12:45.990> contracts<00:12:46.500> in<00:12:46.650> addition 00:12:47.300 --> 00:12:47.310 align:start position:0% with melon smart contracts in addition 00:12:47.310 --> 00:12:49.880 align:start position:0% with melon smart contracts in addition to<00:12:47.520> paying<00:12:47.730> gas<00:12:48.270> to<00:12:48.450> the<00:12:48.480> Ethier<00:12:48.990> network 00:12:49.880 --> 00:12:49.890 align:start position:0% to paying gas to the Ethier network 00:12:49.890 --> 00:12:51.770 align:start position:0% to paying gas to the Ethier network you're<00:12:50.190> also<00:12:50.370> gonna<00:12:50.580> pay<00:12:50.850> what<00:12:51.240> we<00:12:51.390> call<00:12:51.570> the 00:12:51.770 --> 00:12:51.780 align:start position:0% you're also gonna pay what we call the 00:12:51.780 --> 00:12:53.600 align:start position:0% you're also gonna pay what we call the asset<00:12:52.170> management<00:12:52.500> gas<00:12:52.890> and<00:12:53.280> you're<00:12:53.490> gonna 00:12:53.600 --> 00:12:53.610 align:start position:0% asset management gas and you're gonna 00:12:53.610 --> 00:12:56.630 align:start position:0% asset management gas and you're gonna pay<00:12:53.760> that<00:12:53.970> to<00:12:54.180> the<00:12:54.300> melon<00:12:54.870> network<00:12:55.290> so<00:12:56.040> the<00:12:56.520> way 00:12:56.630 --> 00:12:56.640 align:start position:0% pay that to the melon network so the way 00:12:56.640 --> 00:12:59.090 align:start position:0% pay that to the melon network so the way it's<00:12:56.790> calculated<00:12:57.090> is<00:12:57.540> very<00:12:57.870> similar<00:12:58.740> to<00:12:58.950> how 00:12:59.090 --> 00:12:59.100 align:start position:0% it's calculated is very similar to how 00:12:59.100 --> 00:13:00.050 align:start position:0% it's calculated is very similar to how it's<00:12:59.250> done<00:12:59.400> on<00:12:59.610> aetherium 00:13:00.050 --> 00:13:00.060 align:start position:0% it's done on aetherium 00:13:00.060 --> 00:13:02.570 align:start position:0% it's done on aetherium so<00:13:00.570> we<00:13:00.660> take<00:13:00.870> the<00:13:01.020> same<00:13:01.260> number<00:13:01.290> of<00:13:01.830> gas<00:13:02.220> units 00:13:02.570 --> 00:13:02.580 align:start position:0% so we take the same number of gas units 00:13:02.580 --> 00:13:05.780 align:start position:0% so we take the same number of gas units that<00:13:03.420> are<00:13:03.600> consumed<00:13:04.140> by<00:13:04.680> the<00:13:05.070> function<00:13:05.520> on<00:13:05.760> the 00:13:05.780 --> 00:13:05.790 align:start position:0% that are consumed by the function on the 00:13:05.790 --> 00:13:08.240 align:start position:0% that are consumed by the function on the EVM<00:13:06.210> and<00:13:06.480> instead<00:13:07.290> of<00:13:07.440> multiplying<00:13:07.950> that<00:13:08.190> by 00:13:08.240 --> 00:13:08.250 align:start position:0% EVM and instead of multiplying that by 00:13:08.250 --> 00:13:10.910 align:start position:0% EVM and instead of multiplying that by the<00:13:08.880> etherium<00:13:09.300> gas<00:13:09.450> price<00:13:09.750> we<00:13:10.320> multiply<00:13:10.740> it<00:13:10.770> by 00:13:10.910 --> 00:13:10.920 align:start position:0% the etherium gas price we multiply it by 00:13:10.920 --> 00:13:13.550 align:start position:0% the etherium gas price we multiply it by the<00:13:11.760> melon<00:13:12.090> gas<00:13:12.570> price<00:13:12.840> or<00:13:13.080> the<00:13:13.230> asset 00:13:13.550 --> 00:13:13.560 align:start position:0% the melon gas price or the asset 00:13:13.560 --> 00:13:14.730 align:start position:0% the melon gas price or the asset management<00:13:13.860> guessed 00:13:14.730 --> 00:13:14.740 align:start position:0% management guessed 00:13:14.740 --> 00:13:18.030 align:start position:0% management guessed so<00:13:15.490> how<00:13:16.150> does<00:13:16.360> it<00:13:16.540> look<00:13:16.720> in<00:13:16.900> more<00:13:17.110> detail<00:13:17.170> so 00:13:18.030 --> 00:13:18.040 align:start position:0% so how does it look in more detail so 00:13:18.040 --> 00:13:21.360 align:start position:0% so how does it look in more detail so your<00:13:18.430> user<00:13:18.730> and<00:13:19.210> you're<00:13:19.330> about<00:13:19.480> to<00:13:19.540> use<00:13:20.370> some 00:13:21.360 --> 00:13:21.370 align:start position:0% your user and you're about to use some 00:13:21.370 --> 00:13:24.690 align:start position:0% your user and you're about to use some melon<00:13:21.910> smart<00:13:22.150> contracts<00:13:22.690> and<00:13:22.990> etherium<00:13:23.650> so<00:13:24.010> we 00:13:24.690 --> 00:13:24.700 align:start position:0% melon smart contracts and etherium so we 00:13:24.700 --> 00:13:26.670 align:start position:0% melon smart contracts and etherium so we impose<00:13:25.120> that<00:13:25.420> asset<00:13:25.840> management<00:13:26.110> gas<00:13:26.410> on 00:13:26.670 --> 00:13:26.680 align:start position:0% impose that asset management gas on 00:13:26.680 --> 00:13:28.860 align:start position:0% impose that asset management gas on certain<00:13:27.280> functions<00:13:27.760> not<00:13:28.390> all<00:13:28.600> of<00:13:28.720> them 00:13:28.860 --> 00:13:28.870 align:start position:0% certain functions not all of them 00:13:28.870 --> 00:13:31.110 align:start position:0% certain functions not all of them because<00:13:29.140> we<00:13:29.170> want<00:13:29.410> to<00:13:29.470> stay<00:13:29.740> cheap<00:13:30.730> affordable 00:13:31.110 --> 00:13:31.120 align:start position:0% because we want to stay cheap affordable 00:13:31.120 --> 00:13:34.620 align:start position:0% because we want to stay cheap affordable and<00:13:32.700> competitive<00:13:33.700> compared<00:13:34.480> to<00:13:34.540> other 00:13:34.620 --> 00:13:34.630 align:start position:0% and competitive compared to other 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you're<00:13:43.630> also<00:13:43.810> gonna<00:13:44.140> pay 00:13:44.340 --> 00:13:44.350 align:start position:0% addition to that you're also gonna pay 00:13:44.350 --> 00:13:46.650 align:start position:0% addition to that you're also gonna pay your<00:13:44.560> asset<00:13:44.890> management<00:13:45.160> gas<00:13:45.460> to<00:13:45.790> the<00:13:46.030> melon 00:13:46.650 --> 00:13:46.660 align:start position:0% your asset management gas to the melon 00:13:46.660 --> 00:13:48.840 align:start position:0% your asset management gas to the melon Network<00:13:46.990> and<00:13:47.320> instead<00:13:47.920> of<00:13:47.980> paying<00:13:48.280> that<00:13:48.460> gas 00:13:48.840 --> 00:13:48.850 align:start position:0% Network and instead of paying that gas 00:13:48.850 --> 00:13:50.420 align:start position:0% Network and instead of paying that gas and<00:13:49.180> this<00:13:49.270> is<00:13:49.450> really<00:13:49.690> important<00:13:50.200> here 00:13:50.420 --> 00:13:50.430 align:start position:0% and this is really important here 00:13:50.430 --> 00:13:52.920 align:start position:0% and this is really important here instead<00:13:51.430> of<00:13:51.550> paying<00:13:51.730> that<00:13:51.880> gas<00:13:52.180> in<00:13:52.450> melon 00:13:52.920 --> 00:13:52.930 align:start position:0% instead of paying that gas in melon 00:13:52.930 --> 00:13:55.050 align:start position:0% instead of paying that gas in melon you're<00:13:53.320> gonna<00:13:53.500> pay<00:13:53.680> that<00:13:53.710> gas<00:13:54.400> the<00:13:54.760> asset 00:13:55.050 --> 00:13:55.060 align:start position:0% you're gonna pay that gas the asset 00:13:55.060 --> 00:13:58.650 align:start position:0% you're gonna pay that gas the asset management<00:13:55.360> gas<00:13:55.690> in<00:13:55.960> ether<00:13:56.800> that<00:13:57.450> ether<00:13:58.450> is 00:13:58.650 --> 00:13:58.660 align:start position:0% management gas in ether that ether is 00:13:58.660 --> 00:14:01.200 align:start position:0% management gas in ether that ether is sent<00:13:59.080> to<00:13:59.200> the<00:13:59.890> men<00:14:00.040> and<00:14:00.070> engine<00:14:00.610> smart 00:14:01.200 --> 00:14:01.210 align:start position:0% sent to the men and engine smart 00:14:01.210 --> 00:14:03.930 align:start position:0% sent to the men and engine smart contract<00:14:01.600> and<00:14:01.900> that<00:14:02.530> contract<00:14:03.010> is<00:14:03.340> very 00:14:03.930 --> 00:14:03.940 align:start position:0% contract and that contract is very 00:14:03.940 --> 00:14:06.810 align:start position:0% contract and that contract is very simple<00:14:04.390> it<00:14:04.810> only<00:14:05.050> does<00:14:05.410> two<00:14:05.920> things<00:14:05.950> the<00:14:06.790> first 00:14:06.810 --> 00:14:06.820 align:start position:0% simple it only does two things the first 00:14:06.820 --> 00:14:09.090 align:start position:0% simple it only does two things the first thing<00:14:07.240> is<00:14:07.390> that<00:14:07.420> when<00:14:07.990> it<00:14:08.140> receives<00:14:08.560> ether 00:14:09.090 --> 00:14:09.100 align:start position:0% thing is that when it receives ether 00:14:09.100 --> 00:14:12.210 align:start position:0% thing is that when it receives ether from<00:14:09.550> the<00:14:10.030> user<00:14:10.380> interaction<00:14:11.380> it's<00:14:12.010> gonna 00:14:12.210 --> 00:14:12.220 align:start position:0% from the user interaction it's gonna 00:14:12.220 --> 00:14:14.760 align:start position:0% from the user interaction it's gonna sell<00:14:12.520> this<00:14:12.730> ether<00:14:13.510> and<00:14:13.720> by<00:14:13.960> melon<00:14:14.380> at<00:14:14.560> the 00:14:14.760 --> 00:14:14.770 align:start position:0% sell this ether and by melon at the 00:14:14.770 --> 00:14:17.040 align:start position:0% sell this ether and by melon at the premium<00:14:15.160> on<00:14:15.370> the<00:14:15.700> market<00:14:16.060> so<00:14:16.540> it's<00:14:16.720> basically 00:14:17.040 --> 00:14:17.050 align:start position:0% premium on the market so it's basically 00:14:17.050 --> 00:14:19.370 align:start position:0% premium on the market so it's basically a<00:14:17.140> contract<00:14:17.590> that<00:14:17.680> is<00:14:17.740> a<00:14:18.240> unidirectional 00:14:19.370 --> 00:14:19.380 align:start position:0% a contract that is a unidirectional 00:14:19.380 --> 00:14:22.380 align:start position:0% a contract that is a unidirectional liquidity<00:14:20.380> contract<00:14:20.820> it's<00:14:21.820> a<00:14:21.910> contract<00:14:22.300> that 00:14:22.380 --> 00:14:22.390 align:start position:0% liquidity contract it's a contract that 00:14:22.390 --> 00:14:25.200 align:start position:0% liquidity contract it's a contract that is<00:14:22.450> a<00:14:22.540> market<00:14:22.990> itself<00:14:23.500> so<00:14:24.400> it's<00:14:24.820> gonna<00:14:25.000> sell 00:14:25.200 --> 00:14:25.210 align:start position:0% is a market itself so it's gonna sell 00:14:25.210 --> 00:14:28.320 align:start position:0% is a market itself so it's gonna sell the<00:14:25.360> eat<00:14:25.510> by<00:14:25.990> melon<00:14:26.470> at<00:14:26.710> a<00:14:26.980> premium<00:14:27.220> and<00:14:27.640> once 00:14:28.320 --> 00:14:28.330 align:start position:0% the eat by melon at a premium and once 00:14:28.330 --> 00:14:31.440 align:start position:0% the eat by melon at a premium and once once<00:14:28.810> it<00:14:28.930> has<00:14:29.110> melon<00:14:29.590> in<00:14:29.800> the<00:14:30.370> contract<00:14:30.820> it's 00:14:31.440 --> 00:14:31.450 align:start position:0% once it has melon in the contract it's 00:14:31.450 --> 00:14:34.050 align:start position:0% once it has melon in the contract it's just<00:14:31.750> gonna<00:14:31.870> burn<00:14:32.440> those<00:14:32.980> melons<00:14:33.340> so<00:14:33.550> sending 00:14:34.050 --> 00:14:34.060 align:start position:0% just gonna burn those melons so sending 00:14:34.060 --> 00:14:37.070 align:start position:0% just gonna burn those melons so sending them<00:14:34.210> to<00:14:34.450> a<00:14:34.720> provably<00:14:35.380> unaccessible<00:14:35.860> address 00:14:37.070 --> 00:14:37.080 align:start position:0% them to a provably unaccessible address 00:14:37.080 --> 00:14:39.150 align:start position:0% them to a provably unaccessible address you<00:14:38.080> know<00:14:38.170> how<00:14:38.380> how<00:14:38.680> that<00:14:38.830> works 00:14:39.150 --> 00:14:39.160 align:start position:0% you know how how that works 00:14:39.160 --> 00:14:41.730 align:start position:0% you know how how that works so<00:14:39.790> what<00:14:40.510> we<00:14:40.600> have<00:14:40.780> here<00:14:41.080> is<00:14:41.260> that<00:14:41.440> when<00:14:41.710> the 00:14:41.730 --> 00:14:41.740 align:start position:0% so what we have here is that when the 00:14:41.740 --> 00:14:46.520 align:start position:0% so what we have here is that when the network<00:14:42.190> is<00:14:42.370> used<00:14:43.080> absent<00:14:44.080> inflation<00:14:45.240> the 00:14:46.520 --> 00:14:46.530 align:start position:0% network is used absent inflation the 00:14:46.530 --> 00:14:50.100 align:start position:0% network is used absent inflation the melon<00:14:47.530> total<00:14:47.950> supply<00:14:48.480> is<00:14:49.480> gonna<00:14:49.930> be 00:14:50.100 --> 00:14:50.110 align:start position:0% melon total supply is gonna be 00:14:50.110 --> 00:14:54.180 align:start position:0% melon total supply is gonna be decreasing<00:14:51.040> so<00:14:51.930> this<00:14:52.930> mechanism<00:14:53.470> gives<00:14:54.040> us 00:14:54.180 --> 00:14:54.190 align:start position:0% decreasing so this mechanism gives us 00:14:54.190 --> 00:14:56.250 align:start position:0% decreasing so this mechanism gives us two<00:14:54.670> very<00:14:55.060> nice<00:14:55.270> thing<00:14:55.510> the<00:14:55.690> first<00:14:55.840> thing<00:14:56.080> is 00:14:56.250 --> 00:14:56.260 align:start position:0% two very nice thing the first thing is 00:14:56.260 --> 00:14:58.410 align:start position:0% two very nice thing the first thing is we<00:14:56.860> managed<00:14:57.190> to<00:14:57.339> reduce<00:14:57.460> friction<00:14:57.940> in 00:14:58.410 --> 00:14:58.420 align:start position:0% we managed to reduce friction in 00:14:58.420 --> 00:15:01.860 align:start position:0% we managed to reduce friction in convenience<00:14:59.320> and<00:14:59.530> cost<00:14:59.800> on<00:15:00.520> the<00:15:00.700> user<00:15:00.910> because 00:15:01.860 --> 00:15:01.870 align:start position:0% convenience and cost on the user because 00:15:01.870 --> 00:15:06.090 align:start position:0% convenience and cost on the user because instead<00:15:02.380> of<00:15:02.440> having<00:15:02.589> to<00:15:03.070> own<00:15:03.940> melon<00:15:04.540> and<00:15:05.100> ether 00:15:06.090 --> 00:15:06.100 align:start position:0% instead of having to own melon and ether 00:15:06.100 --> 00:15:08.280 align:start position:0% instead of having to own melon and ether when<00:15:06.310> you<00:15:06.520> when<00:15:06.880> you<00:15:06.970> use<00:15:07.120> melanin<00:15:07.839> a<00:15:07.930> theorem 00:15:08.280 --> 00:15:08.290 align:start position:0% when you when you use melanin a theorem 00:15:08.290 --> 00:15:11.250 align:start position:0% when you when you use melanin a theorem you<00:15:09.190> only<00:15:09.460> need<00:15:09.760> as<00:15:10.120> a<00:15:10.180> user<00:15:10.450> to<00:15:10.570> have<00:15:10.750> ether 00:15:11.250 --> 00:15:11.260 align:start position:0% you only need as a user to have ether 00:15:11.260 --> 00:15:14.070 align:start position:0% you only need as a user to have ether just<00:15:11.710> as<00:15:11.890> if<00:15:12.070> you<00:15:12.220> were<00:15:12.370> using<00:15:12.640> any<00:15:13.390> smart 00:15:14.070 --> 00:15:14.080 align:start position:0% just as if you were using any smart 00:15:14.080 --> 00:15:16.530 align:start position:0% just as if you were using any smart contract<00:15:14.440> any<00:15:14.589> theorem<00:15:14.920> and<00:15:15.180> the<00:15:16.180> second 00:15:16.530 --> 00:15:16.540 align:start position:0% contract any theorem and the second 00:15:16.540 --> 00:15:19.170 align:start position:0% contract any theorem and the second thing<00:15:16.720> and<00:15:17.080> arguably<00:15:17.890> much<00:15:18.370> more<00:15:18.640> important 00:15:19.170 --> 00:15:19.180 align:start position:0% thing and arguably much more important 00:15:19.180 --> 00:15:22.230 align:start position:0% thing and arguably much more important is<00:15:19.450> that<00:15:19.480> we<00:15:20.290> managed<00:15:20.980> to<00:15:21.010> align<00:15:21.550> the<00:15:21.910> token 00:15:22.230 --> 00:15:22.240 align:start position:0% is that we managed to align the token 00:15:22.240 --> 00:15:24.720 align:start position:0% is that we managed to align the token value<00:15:22.270> with<00:15:23.260> the<00:15:23.380> usage<00:15:23.560> of<00:15:23.890> the<00:15:24.100> network<00:15:24.430> and 00:15:24.720 --> 00:15:24.730 align:start position:0% value with the usage of the network and 00:15:24.730 --> 00:15:27.590 align:start position:0% value with the usage of the network and we<00:15:25.450> do<00:15:25.570> that<00:15:25.780> without<00:15:26.620> having 00:15:27.590 --> 00:15:27.600 align:start position:0% we do that without having 00:15:27.600 --> 00:15:30.470 align:start position:0% we do that without having a<00:15:27.680> high-velocity<00:15:28.850> token<00:15:29.850> model<00:15:30.120> so<00:15:30.300> that's 00:15:30.470 --> 00:15:30.480 align:start position:0% a high-velocity token model so that's 00:15:30.480 --> 00:15:33.769 align:start position:0% a high-velocity token model so that's really<00:15:30.750> really<00:15:31.550> important<00:15:32.550> we<00:15:32.940> think<00:15:33.269> that 00:15:33.769 --> 00:15:33.779 align:start position:0% really really important we think that 00:15:33.779 --> 00:15:36.139 align:start position:0% really really important we think that we're<00:15:33.899> the<00:15:34.019> first<00:15:34.170> dab<00:15:35.009> protocol<00:15:35.790> to<00:15:35.970> have 00:15:36.139 --> 00:15:36.149 align:start position:0% we're the first dab protocol to have 00:15:36.149 --> 00:15:38.900 align:start position:0% we're the first dab protocol to have managed<00:15:36.839> to<00:15:36.870> do<00:15:37.079> something<00:15:37.440> like<00:15:37.560> that<00:15:37.620> so<00:15:38.069> we 00:15:38.900 --> 00:15:38.910 align:start position:0% managed to do something like that so we 00:15:38.910 --> 00:15:41.809 align:start position:0% managed to do something like that so we are<00:15:38.940> very<00:15:39.269> proud<00:15:39.870> of<00:15:39.990> our<00:15:40.319> work<00:15:40.589> there<00:15:41.519> and<00:15:41.759> I 00:15:41.809 --> 00:15:41.819 align:start position:0% are very proud of our work there and I 00:15:41.819 --> 00:15:43.639 align:start position:0% are very proud of our work there and I encourage<00:15:42.269> anyone<00:15:42.690> who<00:15:42.899> is<00:15:42.990> interested<00:15:43.230> to 00:15:43.639 --> 00:15:43.649 align:start position:0% encourage anyone who is interested to 00:15:43.649 --> 00:15:45.740 align:start position:0% encourage anyone who is interested to read<00:15:43.829> the<00:15:44.639> Mellon<00:15:44.880> that<00:15:45.000> makes<00:15:45.120> two<00:15:45.300> PS<00:15:45.569> that 00:15:45.740 --> 00:15:45.750 align:start position:0% read the Mellon that makes two PS that 00:15:45.750 --> 00:15:47.050 align:start position:0% read the Mellon that makes two PS that we<00:15:45.839> wrote<00:15:46.050> about<00:15:46.410> that 00:15:47.050 --> 00:15:47.060 align:start position:0% we wrote about that 00:15:47.060 --> 00:15:50.150 align:start position:0% we wrote about that so<00:15:48.230> that<00:15:49.230> part<00:15:49.529> as<00:15:49.709> you<00:15:49.889> might<00:15:50.040> have 00:15:50.150 --> 00:15:50.160 align:start position:0% so that part as you might have 00:15:50.160 --> 00:15:52.249 align:start position:0% so that part as you might have understood<00:15:50.550> by<00:15:50.699> now<00:15:50.730> takes<00:15:51.269> care<00:15:51.540> of<00:15:51.569> the 00:15:52.249 --> 00:15:52.259 align:start position:0% understood by now takes care of the 00:15:52.259 --> 00:15:54.079 align:start position:0% understood by now takes care of the token<00:15:52.560> holders<00:15:52.889> so<00:15:53.190> it<00:15:53.430> seems<00:15:53.639> like<00:15:53.730> the<00:15:53.940> token 00:15:54.079 --> 00:15:54.089 align:start position:0% token holders so it seems like the token 00:15:54.089 --> 00:15:56.930 align:start position:0% token holders so it seems like the token holders<00:15:54.540> are<00:15:54.750> interested<00:15:55.319> by<00:15:55.889> the<00:15:56.639> research 00:15:56.930 --> 00:15:56.940 align:start position:0% holders are interested by the research 00:15:56.940 --> 00:15:59.300 align:start position:0% holders are interested by the research return<00:15:57.269> on<00:15:57.389> investment<00:15:57.899> on<00:15:58.019> the<00:15:58.110> token<00:15:58.440> and<00:15:58.620> if 00:15:59.300 --> 00:15:59.310 align:start position:0% return on investment on the token and if 00:15:59.310 --> 00:16:02.660 align:start position:0% return on investment on the token and if the<00:15:59.459> network<00:15:59.940> is<00:16:00.209> successful<00:16:00.889> this<00:16:01.889> mechanism 00:16:02.660 --> 00:16:02.670 align:start position:0% the network is successful this mechanism 00:16:02.670 --> 00:16:03.290 align:start position:0% the network is successful this mechanism should<00:16:02.699> Katter 00:16:03.290 --> 00:16:03.300 align:start position:0% should Katter 00:16:03.300 --> 00:16:05.900 align:start position:0% should Katter and<00:16:03.959> scatter<00:16:04.649> to<00:16:04.829> the<00:16:04.920> needs<00:16:05.130> of<00:16:05.339> the<00:16:05.639> token 00:16:05.900 --> 00:16:05.910 align:start position:0% and scatter to the needs of the token 00:16:05.910 --> 00:16:10.100 align:start position:0% and scatter to the needs of the token holders<00:16:06.209> and<00:16:06.509> please<00:16:07.019> them<00:16:08.899> so<00:16:09.899> now<00:16:10.050> that 00:16:10.100 --> 00:16:10.110 align:start position:0% holders and please them so now that 00:16:10.110 --> 00:16:11.990 align:start position:0% holders and please them so now that we've<00:16:10.380> seen<00:16:10.680> how<00:16:10.920> to<00:16:10.949> maximize<00:16:11.579> network 00:16:11.990 --> 00:16:12.000 align:start position:0% we've seen how to maximize network 00:16:12.000 --> 00:16:15.829 align:start position:0% we've seen how to maximize network effect<00:16:12.389> and<00:16:12.839> to<00:16:13.769> provide<00:16:14.370> proper<00:16:14.839> economic 00:16:15.829 --> 00:16:15.839 align:start position:0% effect and to provide proper economic 00:16:15.839 --> 00:16:18.800 align:start position:0% effect and to provide proper economic incentives<00:16:16.759> the<00:16:17.759> last<00:16:17.970> part<00:16:18.209> that<00:16:18.240> we<00:16:18.449> need<00:16:18.569> to 00:16:18.800 --> 00:16:18.810 align:start position:0% incentives the last part that we need to 00:16:18.810 --> 00:16:21.139 align:start position:0% incentives the last part that we need to go<00:16:19.110> through<00:16:19.350> is<00:16:19.589> the<00:16:20.430> governance<00:16:20.940> and 00:16:21.139 --> 00:16:21.149 align:start position:0% go through is the governance and 00:16:21.149 --> 00:16:24.290 align:start position:0% go through is the governance and maintenance<00:16:21.839> system<00:16:22.560> of<00:16:22.800> Mellon<00:16:23.490> so<00:16:23.819> when 00:16:24.290 --> 00:16:24.300 align:start position:0% maintenance system of Mellon so when 00:16:24.300 --> 00:16:25.879 align:start position:0% maintenance system of Mellon so when Mellon<00:16:24.569> part<00:16:24.779> is<00:16:24.870> going<00:16:25.079> to<00:16:25.139> disappear<00:16:25.620> in 00:16:25.879 --> 00:16:25.889 align:start position:0% Mellon part is going to disappear in 00:16:25.889 --> 00:16:30.439 align:start position:0% Mellon part is going to disappear in February<00:16:27.350> 2019<00:16:28.350> we<00:16:29.310> need<00:16:29.459> to<00:16:29.610> have<00:16:29.790> a<00:16:29.850> way<00:16:30.089> to 00:16:30.439 --> 00:16:30.449 align:start position:0% February 2019 we need to have a way to 00:16:30.449 --> 00:16:32.629 align:start position:0% February 2019 we need to have a way to make<00:16:31.079> decisions<00:16:31.649> for<00:16:31.829> the<00:16:31.949> future<00:16:32.100> of<00:16:32.459> the 00:16:32.629 --> 00:16:32.639 align:start position:0% make decisions for the future of the 00:16:32.639 --> 00:16:35.059 align:start position:0% make decisions for the future of the protocol<00:16:33.290> so<00:16:34.290> that's<00:16:34.470> what<00:16:34.620> we're<00:16:34.740> gonna<00:16:34.829> see 00:16:35.059 --> 00:16:35.069 align:start position:0% protocol so that's what we're gonna see 00:16:35.069 --> 00:16:40.490 align:start position:0% protocol so that's what we're gonna see now<00:16:35.540> so<00:16:36.540> first<00:16:37.529> of<00:16:37.769> all<00:16:37.860> when<00:16:39.139> when<00:16:40.139> designing 00:16:40.490 --> 00:16:40.500 align:start position:0% now so first of all when when designing 00:16:40.500 --> 00:16:43.309 align:start position:0% now so first of all when when designing the<00:16:40.769> system<00:16:41.160> we<00:16:41.550> really<00:16:41.850> ask<00:16:42.089> ourselves<00:16:42.319> okay 00:16:43.309 --> 00:16:43.319 align:start position:0% the system we really ask ourselves okay 00:16:43.319 --> 00:16:45.319 align:start position:0% the system we really ask ourselves okay why<00:16:43.829> are<00:16:43.889> we<00:16:44.160> doing<00:16:44.279> that<00:16:44.550> like<00:16:44.759> what<00:16:45.000> are<00:16:45.149> the 00:16:45.319 --> 00:16:45.329 align:start position:0% why are we doing that like what are the 00:16:45.329 --> 00:16:48.620 align:start position:0% why are we doing that like what are the goals<00:16:45.480> that<00:16:45.689> we<00:16:45.990> want<00:16:46.019> this<00:16:46.740> governance<00:16:47.630> model 00:16:48.620 --> 00:16:48.630 align:start position:0% goals that we want this governance model 00:16:48.630 --> 00:16:54.350 align:start position:0% goals that we want this governance model to<00:16:49.970> to<00:16:51.410> complete<00:16:52.410> basically<00:16:52.949> so<00:16:53.550> those<00:16:54.120> are 00:16:54.350 --> 00:16:54.360 align:start position:0% to to complete basically so those are 00:16:54.360 --> 00:16:56.269 align:start position:0% to to complete basically so those are threefold<00:16:54.839> as<00:16:55.139> well<00:16:55.290> so<00:16:55.709> the<00:16:55.800> first<00:16:55.829> one<00:16:56.160> is 00:16:56.269 --> 00:16:56.279 align:start position:0% threefold as well so the first one is 00:16:56.279 --> 00:16:57.829 align:start position:0% threefold as well so the first one is that<00:16:56.310> we<00:16:56.550> want<00:16:56.790> to<00:16:56.910> preserve<00:16:57.360> the<00:16:57.600> integrity 00:16:57.829 --> 00:16:57.839 align:start position:0% that we want to preserve the integrity 00:16:57.839 --> 00:17:00.470 align:start position:0% that we want to preserve the integrity and<00:16:58.410> security<00:16:58.889> of<00:16:59.399> the<00:16:59.519> network<00:16:59.639> this<00:17:00.300> is 00:17:00.470 --> 00:17:00.480 align:start position:0% and security of the network this is 00:17:00.480 --> 00:17:02.150 align:start position:0% and security of the network this is extremely<00:17:00.839> important<00:17:01.410> when<00:17:01.560> you're<00:17:01.769> speaking 00:17:02.150 --> 00:17:02.160 align:start position:0% extremely important when you're speaking 00:17:02.160 --> 00:17:04.880 align:start position:0% extremely important when you're speaking about<00:17:02.189> asset<00:17:03.120> Metatron's<00:17:03.660> the<00:17:04.439> second<00:17:04.740> thing 00:17:04.880 --> 00:17:04.890 align:start position:0% about asset Metatron's the second thing 00:17:04.890 --> 00:17:06.439 align:start position:0% about asset Metatron's the second thing is<00:17:05.010> that<00:17:05.039> we<00:17:05.339> want<00:17:05.459> to<00:17:05.579> maximize<00:17:05.850> user 00:17:06.439 --> 00:17:06.449 align:start position:0% is that we want to maximize user 00:17:06.449 --> 00:17:09.110 align:start position:0% is that we want to maximize user adoption<00:17:06.929> and<00:17:07.380> protect<00:17:07.949> protect<00:17:08.339> the<00:17:08.669> user<00:17:08.850> as 00:17:09.110 --> 00:17:09.120 align:start position:0% adoption and protect protect the user as 00:17:09.120 --> 00:17:12.590 align:start position:0% adoption and protect protect the user as much<00:17:09.329> as<00:17:09.539> possible<00:17:10.189> and<00:17:11.189> the<00:17:11.520> third<00:17:12.329> thing<00:17:12.539> is 00:17:12.590 --> 00:17:12.600 align:start position:0% much as possible and the third thing is 00:17:12.600 --> 00:17:14.360 align:start position:0% much as possible and the third thing is that<00:17:12.720> we<00:17:12.929> want<00:17:13.049> to<00:17:13.169> foster<00:17:13.559> innovation<00:17:13.770> in 00:17:14.360 --> 00:17:14.370 align:start position:0% that we want to foster innovation in 00:17:14.370 --> 00:17:18.039 align:start position:0% that we want to foster innovation in order<00:17:15.120> to<00:17:15.449> make<00:17:16.439> the<00:17:16.589> network<00:17:16.819> more 00:17:18.039 --> 00:17:18.049 align:start position:0% order to make the network more 00:17:18.049 --> 00:17:23.809 align:start position:0% order to make the network more attractive<00:17:19.370> so<00:17:20.370> how<00:17:21.059> do<00:17:21.120> we<00:17:21.360> do<00:17:21.539> that<00:17:22.429> so<00:17:23.429> when 00:17:23.809 --> 00:17:23.819 align:start position:0% attractive so how do we do that so when 00:17:23.819 --> 00:17:25.669 align:start position:0% attractive so how do we do that so when I<00:17:23.850> talked<00:17:24.120> about<00:17:24.209> our<00:17:24.679> different 00:17:25.669 --> 00:17:25.679 align:start position:0% I talked about our different 00:17:25.679 --> 00:17:28.640 align:start position:0% I talked about our different stakeholders<00:17:26.309> in<00:17:26.339> in<00:17:27.059> the<00:17:27.240> space<00:17:27.530> we're<00:17:28.530> gonna 00:17:28.640 --> 00:17:28.650 align:start position:0% stakeholders in in the space we're gonna 00:17:28.650 --> 00:17:31.250 align:start position:0% stakeholders in in the space we're gonna talk<00:17:28.830> about<00:17:28.860> this<00:17:29.280> again<00:17:29.490> now<00:17:29.850> so<00:17:30.809> when<00:17:31.110> you're 00:17:31.250 --> 00:17:31.260 align:start position:0% talk about this again now so when you're 00:17:31.260 --> 00:17:32.630 align:start position:0% talk about this again now so when you're building<00:17:31.530> a<00:17:31.679> governance<00:17:32.070> model<00:17:32.429> I<00:17:32.580> think 00:17:32.630 --> 00:17:32.640 align:start position:0% building a governance model I think 00:17:32.640 --> 00:17:34.820 align:start position:0% building a governance model I think that's<00:17:33.120> really<00:17:33.780> what<00:17:33.929> you<00:17:34.080> want<00:17:34.260> to<00:17:34.409> do<00:17:34.559> is 00:17:34.820 --> 00:17:34.830 align:start position:0% that's really what you want to do is 00:17:34.830 --> 00:17:38.000 align:start position:0% that's really what you want to do is identify<00:17:35.960> what<00:17:36.960> is<00:17:37.110> the<00:17:37.290> most<00:17:37.500> vulnerable 00:17:38.000 --> 00:17:38.010 align:start position:0% identify what is the most vulnerable 00:17:38.010 --> 00:17:40.500 align:start position:0% identify what is the most vulnerable stakeholder<00:17:38.940> group<00:17:39.179> in<00:17:39.390> your<00:17:39.720> eco 00:17:40.500 --> 00:17:40.510 align:start position:0% stakeholder group in your eco 00:17:40.510 --> 00:17:44.070 align:start position:0% stakeholder group in your eco system<00:17:40.750> and<00:17:41.280> so<00:17:42.280> that's<00:17:42.460> how<00:17:42.610> we<00:17:42.670> worked<00:17:43.080> our 00:17:44.070 --> 00:17:44.080 align:start position:0% system and so that's how we worked our 00:17:44.080 --> 00:17:47.070 align:start position:0% system and so that's how we worked our most<00:17:44.530> vulnerable<00:17:44.860> group<00:17:45.400> are<00:17:45.640> the<00:17:46.210> users<00:17:46.510> here 00:17:47.070 --> 00:17:47.080 align:start position:0% most vulnerable group are the users here 00:17:47.080 --> 00:17:49.140 align:start position:0% most vulnerable group are the users here so<00:17:47.290> the<00:17:47.380> users<00:17:47.680> are<00:17:47.980> the<00:17:48.520> people<00:17:48.790> who<00:17:48.910> manage 00:17:49.140 --> 00:17:49.150 align:start position:0% so the users are the people who manage 00:17:49.150 --> 00:17:53.520 align:start position:0% so the users are the people who manage Mellon<00:17:50.140> funds<00:17:50.500> so<00:17:50.710> asset<00:17:51.040> managers<00:17:51.460> and<00:17:52.530> also 00:17:53.520 --> 00:17:53.530 align:start position:0% Mellon funds so asset managers and also 00:17:53.530 --> 00:17:56.010 align:start position:0% Mellon funds so asset managers and also the<00:17:53.800> investors<00:17:54.340> who<00:17:54.610> are<00:17:54.640> invested<00:17:55.300> in<00:17:55.480> those 00:17:56.010 --> 00:17:56.020 align:start position:0% the investors who are invested in those 00:17:56.020 --> 00:17:59.520 align:start position:0% the investors who are invested in those Mellon<00:17:56.350> funds<00:17:56.710> so<00:17:57.870> from<00:17:58.870> this<00:17:59.080> assumption 00:17:59.520 --> 00:17:59.530 align:start position:0% Mellon funds so from this assumption 00:17:59.530 --> 00:18:01.080 align:start position:0% Mellon funds so from this assumption that<00:17:59.710> the<00:17:59.980> users<00:18:00.280> are<00:18:00.310> the<00:18:00.760> most<00:18:00.910> vulnerable 00:18:01.080 --> 00:18:01.090 align:start position:0% that the users are the most vulnerable 00:18:01.090 --> 00:18:03.900 align:start position:0% that the users are the most vulnerable we<00:18:01.600> worked<00:18:01.840> out<00:18:02.080> a<00:18:02.110> model<00:18:02.590> that<00:18:02.620> is<00:18:02.910> user 00:18:03.900 --> 00:18:03.910 align:start position:0% we worked out a model that is user 00:18:03.910 --> 00:18:06.150 align:start position:0% we worked out a model that is user centric<00:18:04.390> so<00:18:04.690> really<00:18:04.990> focused<00:18:05.350> on<00:18:05.470> protecting 00:18:06.150 --> 00:18:06.160 align:start position:0% centric so really focused on protecting 00:18:06.160 --> 00:18:09.600 align:start position:0% centric so really focused on protecting the<00:18:06.640> user<00:18:06.820> but<00:18:07.480> also<00:18:07.890> making<00:18:08.890> sure<00:18:08.920> that<00:18:09.100> their 00:18:09.600 --> 00:18:09.610 align:start position:0% the user but also making sure that their 00:18:09.610 --> 00:18:13.440 align:start position:0% the user but also making sure that their voices<00:18:09.850> are<00:18:10.690> heard<00:18:10.750> and<00:18:11.940> sorry<00:18:12.940> and<00:18:13.180> will<00:18:13.330> be 00:18:13.440 --> 00:18:13.450 align:start position:0% voices are heard and sorry and will be 00:18:13.450 --> 00:18:17.580 align:start position:0% voices are heard and sorry and will be heard<00:18:13.600> in<00:18:13.810> the<00:18:13.930> future<00:18:15.480> and<00:18:16.480> we<00:18:17.050> also<00:18:17.200> wanted 00:18:17.580 --> 00:18:17.590 align:start position:0% heard in the future and we also wanted 00:18:17.590 --> 00:18:20.010 align:start position:0% heard in the future and we also wanted to<00:18:17.650> make<00:18:17.860> sure<00:18:17.920> that<00:18:18.310> the<00:18:19.060> users<00:18:19.480> would<00:18:19.870> be 00:18:20.010 --> 00:18:20.020 align:start position:0% to make sure that the users would be 00:18:20.020 --> 00:18:27.830 align:start position:0% to make sure that the users would be supported<00:18:20.740> by<00:18:22.650> technically<00:18:23.650> skilled<00:18:23.950> people 00:18:27.830 --> 00:18:27.840 align:start position:0% 00:18:27.840 --> 00:18:31.740 align:start position:0% so<00:18:29.340> so<00:18:30.340> we<00:18:30.430> come<00:18:30.550> up<00:18:30.580> with<00:18:30.790> a<00:18:30.850> user<00:18:31.060> centric<00:18:31.480> and 00:18:31.740 --> 00:18:31.750 align:start position:0% so so we come up with a user centric and 00:18:31.750 --> 00:18:33.870 align:start position:0% so so we come up with a user centric and skill<00:18:32.020> based<00:18:32.230> governance<00:18:32.800> model<00:18:33.130> so<00:18:33.700> how<00:18:33.820> does 00:18:33.870 --> 00:18:33.880 align:start position:0% skill based governance model so how does 00:18:33.880 --> 00:18:37.770 align:start position:0% skill based governance model so how does that<00:18:34.180> look<00:18:34.800> so<00:18:35.800> I<00:18:35.830> introduced<00:18:36.550> you<00:18:36.730> to<00:18:36.910> net<00:18:37.150> the 00:18:37.770 --> 00:18:37.780 align:start position:0% that look so I introduced you to net the 00:18:37.780 --> 00:18:40.710 align:start position:0% that look so I introduced you to net the Mellon<00:18:38.140> Council<00:18:38.470> now<00:18:39.030> so<00:18:40.030> the<00:18:40.120> man<00:18:40.270> encounter 00:18:40.710 --> 00:18:40.720 align:start position:0% Mellon Council now so the man encounter 00:18:40.720 --> 00:18:42.300 align:start position:0% Mellon Council now so the man encounter is<00:18:40.930> a<00:18:41.260> buddy<00:18:41.650> that<00:18:41.890> is<00:18:41.920> going<00:18:42.160> to<00:18:42.220> be 00:18:42.300 --> 00:18:42.310 align:start position:0% is a buddy that is going to be 00:18:42.310 --> 00:18:44.250 align:start position:0% is a buddy that is going to be responsible<00:18:43.210> for<00:18:43.510> the<00:18:43.660> future<00:18:43.840> development 00:18:44.250 --> 00:18:44.260 align:start position:0% responsible for the future development 00:18:44.260 --> 00:18:47.220 align:start position:0% responsible for the future development and<00:18:44.890> maintenance<00:18:45.850> of<00:18:46.240> the<00:18:46.510> Mellon<00:18:46.750> protocol 00:18:47.220 --> 00:18:47.230 align:start position:0% and maintenance of the Mellon protocol 00:18:47.230 --> 00:18:50.250 align:start position:0% and maintenance of the Mellon protocol it<00:18:47.620> is<00:18:48.100> composed<00:18:48.490> of<00:18:48.700> two<00:18:48.790> subgroups<00:18:49.450> the 00:18:50.250 --> 00:18:50.260 align:start position:0% it is composed of two subgroups the 00:18:50.260 --> 00:18:51.990 align:start position:0% it is composed of two subgroups the first<00:18:50.500> one<00:18:50.770> is<00:18:51.010> the<00:18:51.280> Mellon<00:18:51.550> technical 00:18:51.990 --> 00:18:52.000 align:start position:0% first one is the Mellon technical 00:18:52.000 --> 00:18:53.840 align:start position:0% first one is the Mellon technical council<00:18:52.420> so<00:18:52.960> this<00:18:53.110> is<00:18:53.260> a<00:18:53.290> group<00:18:53.530> of 00:18:53.840 --> 00:18:53.850 align:start position:0% council so this is a group of 00:18:53.850 --> 00:18:56.580 align:start position:0% council so this is a group of technically<00:18:54.850> skilled<00:18:55.270> people<00:18:55.750> or<00:18:55.990> people<00:18:56.560> who 00:18:56.580 --> 00:18:56.590 align:start position:0% technically skilled people or people who 00:18:56.590 --> 00:18:59.520 align:start position:0% technically skilled people or people who have<00:18:57.330> expertise<00:18:58.330> and<00:18:58.510> the<00:18:58.780> Mellon<00:18:59.080> protocol 00:18:59.520 --> 00:18:59.530 align:start position:0% have expertise and the Mellon protocol 00:18:59.530 --> 00:19:03.090 align:start position:0% have expertise and the Mellon protocol or<00:18:59.710> other<00:19:00.780> finance<00:19:01.780> related<00:19:02.350> protocols<00:19:02.620> on 00:19:03.090 --> 00:19:03.100 align:start position:0% or other finance related protocols on 00:19:03.100 --> 00:19:03.890 align:start position:0% or other finance related protocols on ethereum 00:19:03.890 --> 00:19:03.900 align:start position:0% ethereum 00:19:03.900 --> 00:19:08.460 align:start position:0% ethereum or<00:19:04.900> people<00:19:05.350> who<00:19:05.530> have<00:19:05.740> contributed<00:19:07.350> to<00:19:08.350> the 00:19:08.460 --> 00:19:08.470 align:start position:0% or people who have contributed to the 00:19:08.470 --> 00:19:12.120 align:start position:0% or people who have contributed to the Mellon<00:19:08.770> codebase<00:19:09.190> in<00:19:09.520> the<00:19:09.670> past<00:19:09.880> so<00:19:10.800> the<00:19:11.800> this 00:19:12.120 --> 00:19:12.130 align:start position:0% Mellon codebase in the past so the this 00:19:12.130 --> 00:19:13.620 align:start position:0% Mellon codebase in the past so the this subgroup<00:19:12.610> is<00:19:12.760> going<00:19:12.910> to<00:19:12.970> be<00:19:13.060> responsible<00:19:13.510> for 00:19:13.620 --> 00:19:13.630 align:start position:0% subgroup is going to be responsible for 00:19:13.630 --> 00:19:16.110 align:start position:0% subgroup is going to be responsible for the<00:19:13.900> technical<00:19:14.200> parts<00:19:14.710> of<00:19:14.890> the<00:19:15.670> decisions 00:19:16.110 --> 00:19:16.120 align:start position:0% the technical parts of the decisions 00:19:16.120 --> 00:19:17.130 align:start position:0% the technical parts of the decisions that<00:19:16.210> we're<00:19:16.390> gonna<00:19:16.510> have<00:19:16.660> to<00:19:16.810> make<00:19:16.900> in<00:19:17.050> the 00:19:17.130 --> 00:19:17.140 align:start position:0% that we're gonna have to make in the 00:19:17.140 --> 00:19:17.670 align:start position:0% that we're gonna have to make in the future 00:19:17.670 --> 00:19:17.680 align:start position:0% future 00:19:17.680 --> 00:19:20.520 align:start position:0% future the<00:19:18.610> second<00:19:19.090> subgroup<00:19:19.270> is<00:19:19.660> what<00:19:19.930> we<00:19:20.050> call<00:19:20.260> the 00:19:20.520 --> 00:19:20.530 align:start position:0% the second subgroup is what we call the 00:19:20.530 --> 00:19:23.610 align:start position:0% the second subgroup is what we call the MEP<00:19:21.280> representatives<00:19:22.180> so<00:19:22.540> those<00:19:22.870> are<00:19:23.140> the 00:19:23.610 --> 00:19:23.620 align:start position:0% MEP representatives so those are the 00:19:23.620 --> 00:19:26.430 align:start position:0% MEP representatives so those are the Mellon<00:19:23.980> exposed<00:19:24.490> businesses<00:19:25.090> so<00:19:25.720> this<00:19:26.170> is<00:19:26.320> the 00:19:26.430 --> 00:19:26.440 align:start position:0% Mellon exposed businesses so this is the 00:19:26.440 --> 00:19:30.750 align:start position:0% Mellon exposed businesses so this is the self<00:19:26.680> organized<00:19:27.190> entity<00:19:27.990> that<00:19:29.640> where<00:19:30.640> you 00:19:30.750 --> 00:19:30.760 align:start position:0% self organized entity that where you 00:19:30.760 --> 00:19:32.880 align:start position:0% self organized entity that where you will<00:19:30.880> have<00:19:31.120> all<00:19:31.360> of<00:19:31.570> the<00:19:31.690> users<00:19:32.080> who<00:19:32.290> can<00:19:32.440> you 00:19:32.880 --> 00:19:32.890 align:start position:0% will have all of the users who can you 00:19:32.890 --> 00:19:34.500 align:start position:0% will have all of the users who can you know<00:19:32.980> prove<00:19:33.310> that<00:19:33.340> there<00:19:33.730> are<00:19:33.760> users<00:19:34.210> of<00:19:34.390> the 00:19:34.500 --> 00:19:34.510 align:start position:0% know prove that there are users of the 00:19:34.510 --> 00:19:37.860 align:start position:0% know prove that there are users of the network<00:19:34.540> either<00:19:35.410> by<00:19:36.270> proving<00:19:37.270> that<00:19:37.420> they<00:19:37.660> have 00:19:37.860 --> 00:19:37.870 align:start position:0% network either by proving that they have 00:19:37.870 --> 00:19:40.320 align:start position:0% network either by proving that they have assets<00:19:38.350> under<00:19:38.470> management<00:19:38.970> subsequent<00:19:39.970> asset 00:19:40.320 --> 00:19:40.330 align:start position:0% assets under management subsequent asset 00:19:40.330 --> 00:19:42.570 align:start position:0% assets under management subsequent asset under<00:19:40.450> management<00:19:40.990> on<00:19:41.110> menin<00:19:41.410> or<00:19:41.590> proving 00:19:42.570 --> 00:19:42.580 align:start position:0% under management on menin or proving 00:19:42.580 --> 00:19:45.210 align:start position:0% under management on menin or proving that<00:19:42.880> they<00:19:43.090> have<00:19:43.300> used<00:19:43.630> this<00:19:44.260> amount<00:19:44.680> of<00:19:44.890> asset 00:19:45.210 --> 00:19:45.220 align:start position:0% that they have used this amount of asset 00:19:45.220 --> 00:19:48.840 align:start position:0% that they have used this amount of asset management<00:19:45.250> gas<00:19:45.880> over<00:19:46.270> the<00:19:46.720> past<00:19:46.930> year<00:19:47.850> so 00:19:48.840 --> 00:19:48.850 align:start position:0% management gas over the past year so 00:19:48.850 --> 00:19:51.450 align:start position:0% management gas over the past year so this<00:19:49.090> group<00:19:49.840> is<00:19:49.990> going<00:19:50.170> to<00:19:50.230> be<00:19:50.320> able<00:19:50.560> to<00:19:51.040> elect 00:19:51.450 --> 00:19:51.460 align:start position:0% this group is going to be able to elect 00:19:51.460 --> 00:19:53.470 align:start position:0% this group is going to be able to elect among<00:19:52.330> themselves 00:19:53.470 --> 00:19:53.480 align:start position:0% among themselves 00:19:53.480 --> 00:19:56.380 align:start position:0% among themselves they're<00:19:53.900> representatives<00:19:54.860> for<00:19:55.220> to<00:19:56.059> sit<00:19:56.270> on 00:19:56.380 --> 00:19:56.390 align:start position:0% they're representatives for to sit on 00:19:56.390 --> 00:19:58.299 align:start position:0% they're representatives for to sit on the<00:19:56.540> melon<00:19:56.780> council<00:19:57.170> together<00:19:57.350> with<00:19:57.740> the 00:19:58.299 --> 00:19:58.309 align:start position:0% the melon council together with the 00:19:58.309 --> 00:20:00.789 align:start position:0% the melon council together with the melon<00:19:58.640> technical<00:19:59.120> council<00:19:59.510> members<00:19:59.990> so<00:20:00.590> with 00:20:00.789 --> 00:20:00.799 align:start position:0% melon technical council members so with 00:20:00.799 --> 00:20:04.090 align:start position:0% melon technical council members so with this<00:20:01.720> with<00:20:02.720> this<00:20:02.929> melon<00:20:03.380> council<00:20:03.799> what<00:20:03.980> we 00:20:04.090 --> 00:20:04.100 align:start position:0% this with this melon council what we 00:20:04.100 --> 00:20:08.410 align:start position:0% this with this melon council what we hope<00:20:04.309> to<00:20:04.340> achieve<00:20:04.610> is<00:20:05.090> that<00:20:05.710> by<00:20:06.710> combining<00:20:07.420> the 00:20:08.410 --> 00:20:08.420 align:start position:0% hope to achieve is that by combining the 00:20:08.420 --> 00:20:11.530 align:start position:0% hope to achieve is that by combining the user<00:20:09.020> representation<00:20:09.770> and<00:20:10.299> people<00:20:11.299> who<00:20:11.450> are 00:20:11.530 --> 00:20:11.540 align:start position:0% user representation and people who are 00:20:11.540 --> 00:20:13.810 align:start position:0% user representation and people who are technically<00:20:11.990> skilled<00:20:12.350> and<00:20:12.590> informed<00:20:13.100> we<00:20:13.640> hope 00:20:13.810 --> 00:20:13.820 align:start position:0% technically skilled and informed we hope 00:20:13.820 --> 00:20:16.330 align:start position:0% technically skilled and informed we hope that<00:20:14.000> we<00:20:14.210> are<00:20:14.480> able<00:20:14.750> to<00:20:14.900> make<00:20:15.200> the<00:20:16.160> best 00:20:16.330 --> 00:20:16.340 align:start position:0% that we are able to make the best 00:20:16.340 --> 00:20:18.700 align:start position:0% that we are able to make the best decisions<00:20:16.850> possible<00:20:16.940> for<00:20:17.630> for<00:20:18.260> the<00:20:18.320> protocol 00:20:18.700 --> 00:20:18.710 align:start position:0% decisions possible for for the protocol 00:20:18.710 --> 00:20:22.390 align:start position:0% decisions possible for for the protocol and<00:20:18.950> for<00:20:19.340> the<00:20:19.850> users<00:20:20.179> of<00:20:20.450> melon<00:20:21.160> so<00:20:22.160> how<00:20:22.340> does 00:20:22.390 --> 00:20:22.400 align:start position:0% and for the users of melon so how does 00:20:22.400 --> 00:20:25.210 align:start position:0% and for the users of melon so how does that<00:20:22.549> work<00:20:23.150> how<00:20:23.900> does<00:20:23.960> how<00:20:24.559> do<00:20:24.620> we<00:20:24.799> form<00:20:25.070> the 00:20:25.210 --> 00:20:25.220 align:start position:0% that work how does how do we form the 00:20:25.220 --> 00:20:27.669 align:start position:0% that work how does how do we form the council<00:20:25.669> so<00:20:25.910> I<00:20:26.179> told<00:20:26.660> you<00:20:26.780> how<00:20:27.020> the<00:20:27.049> melon 00:20:27.669 --> 00:20:27.679 align:start position:0% council so I told you how the melon 00:20:27.679 --> 00:20:30.580 align:start position:0% council so I told you how the melon exposed<00:20:28.190> businesses<00:20:28.640> is<00:20:28.760> formed<00:20:29.380> for<00:20:30.380> the<00:20:30.410> men 00:20:30.580 --> 00:20:30.590 align:start position:0% exposed businesses is formed for the men 00:20:30.590 --> 00:20:32.020 align:start position:0% exposed businesses is formed for the men and<00:20:30.710> technical<00:20:31.100> council<00:20:31.429> it's<00:20:31.610> a<00:20:31.700> little<00:20:31.910> bit 00:20:32.020 --> 00:20:32.030 align:start position:0% and technical council it's a little bit 00:20:32.030 --> 00:20:36.370 align:start position:0% and technical council it's a little bit different<00:20:32.480> so<00:20:33.520> in<00:20:34.520> February<00:20:35.120> 29th<00:20:35.809> in<00:20:36.049> melon 00:20:36.370 --> 00:20:36.380 align:start position:0% different so in February 29th in melon 00:20:36.380 --> 00:20:39.940 align:start position:0% different so in February 29th in melon port<00:20:36.620> is<00:20:36.799> gonna<00:20:36.980> the<00:20:37.490> same<00:20:37.780> five<00:20:38.780> to<00:20:39.049> set<00:20:39.380> five 00:20:39.940 --> 00:20:39.950 align:start position:0% port is gonna the same five to set five 00:20:39.950 --> 00:20:43.299 align:start position:0% port is gonna the same five to set five to<00:20:40.100> seven<00:20:40.460> seats<00:20:41.320> for<00:20:42.320> the<00:20:42.650> melon<00:20:42.919> technical 00:20:43.299 --> 00:20:43.309 align:start position:0% to seven seats for the melon technical 00:20:43.309 --> 00:20:46.570 align:start position:0% to seven seats for the melon technical council<00:20:43.700> to<00:20:44.600> external<00:20:45.169> people<00:20:45.410> to<00:20:46.309> people 00:20:46.570 --> 00:20:46.580 align:start position:0% council to external people to people 00:20:46.580 --> 00:20:50.950 align:start position:0% council to external people to people that<00:20:46.669> we<00:20:46.790> believe<00:20:47.059> have<00:20:47.330> the<00:20:48.669> the<00:20:49.690> skills<00:20:50.690> or 00:20:50.950 --> 00:20:50.960 align:start position:0% that we believe have the the skills or 00:20:50.960 --> 00:20:54.340 align:start position:0% that we believe have the the skills or expertise<00:20:51.710> to<00:20:51.740> do<00:20:52.610> that<00:20:52.790> and<00:20:53.000> also<00:20:53.350> the 00:20:54.340 --> 00:20:54.350 align:start position:0% expertise to do that and also the 00:20:54.350 --> 00:20:57.190 align:start position:0% expertise to do that and also the ethical<00:20:54.830> standards<00:20:55.360> that<00:20:56.360> that<00:20:56.540> go<00:20:56.900> with<00:20:57.049> it 00:20:57.190 --> 00:20:57.200 align:start position:0% ethical standards that that go with it 00:20:57.200 --> 00:20:59.860 align:start position:0% ethical standards that that go with it so<00:20:57.610> we're<00:20:58.610> going<00:20:58.730> to<00:20:58.820> assign<00:20:59.059> the<00:20:59.390> initial 00:20:59.860 --> 00:20:59.870 align:start position:0% so we're going to assign the initial 00:20:59.870 --> 00:21:03.310 align:start position:0% so we're going to assign the initial seeds<00:21:00.169> and<00:21:00.440> then<00:21:00.710> from<00:21:01.460> there<00:21:01.669> on<00:21:02.140> the<00:21:03.140> counter 00:21:03.310 --> 00:21:03.320 align:start position:0% seeds and then from there on the counter 00:21:03.320 --> 00:21:05.470 align:start position:0% seeds and then from there on the counter is<00:21:03.590> going<00:21:03.650> to<00:21:03.740> be<00:21:03.860> able<00:21:04.010> to<00:21:04.190> self<00:21:04.580> expand<00:21:05.090> so<00:21:05.419> to 00:21:05.470 --> 00:21:05.480 align:start position:0% is going to be able to self expand so to 00:21:05.480 --> 00:21:08.890 align:start position:0% is going to be able to self expand so to grow<00:21:05.750> by<00:21:06.110> itself<00:21:06.760> based<00:21:07.760> on<00:21:07.940> the<00:21:08.210> consensus<00:21:08.750> of 00:21:08.890 --> 00:21:08.900 align:start position:0% grow by itself based on the consensus of 00:21:08.900 --> 00:21:13.570 align:start position:0% grow by itself based on the consensus of its<00:21:09.320> members<00:21:11.350> following<00:21:12.350> a<00:21:12.679> five<00:21:13.160> to<00:21:13.400> two 00:21:13.570 --> 00:21:13.580 align:start position:0% its members following a five to two 00:21:13.580 --> 00:21:16.060 align:start position:0% its members following a five to two ratio<00:21:13.730> so<00:21:14.000> for<00:21:14.330> five<00:21:14.600> men<00:21:15.559> and<00:21:15.710> technical 00:21:16.060 --> 00:21:16.070 align:start position:0% ratio so for five men and technical 00:21:16.070 --> 00:21:18.460 align:start position:0% ratio so for five men and technical council<00:21:16.400> members<00:21:16.700> will<00:21:17.270> be<00:21:17.390> able<00:21:17.540> to<00:21:17.720> have<00:21:17.900> two 00:21:18.460 --> 00:21:18.470 align:start position:0% council members will be able to have two 00:21:18.470 --> 00:21:19.120 align:start position:0% council members will be able to have two MIB 00:21:19.120 --> 00:21:19.130 align:start position:0% MIB 00:21:19.130 --> 00:21:22.570 align:start position:0% MIB representatives<00:21:21.140> it's<00:21:21.470> worth<00:21:21.919> noting<00:21:22.370> here 00:21:22.570 --> 00:21:22.580 align:start position:0% representatives it's worth noting here 00:21:22.580 --> 00:21:24.460 align:start position:0% representatives it's worth noting here that<00:21:22.640> the<00:21:23.210> melon<00:21:23.510> technical<00:21:23.900> cancer<00:21:24.260> are 00:21:24.460 --> 00:21:24.470 align:start position:0% that the melon technical cancer are 00:21:24.470 --> 00:21:27.220 align:start position:0% that the melon technical cancer are going<00:21:24.620> to<00:21:24.710> be<00:21:24.799> compensated<00:21:25.540> with<00:21:26.540> melon<00:21:26.870> token 00:21:27.220 --> 00:21:27.230 align:start position:0% going to be compensated with melon token 00:21:27.230 --> 00:21:29.320 align:start position:0% going to be compensated with melon token from<00:21:27.590> the<00:21:27.770> inflation<00:21:28.010> pool<00:21:28.460> that<00:21:28.970> are<00:21:29.120> going 00:21:29.320 --> 00:21:29.330 align:start position:0% from the inflation pool that are going 00:21:29.330 --> 00:21:33.750 align:start position:0% from the inflation pool that are going to<00:21:29.419> be<00:21:29.510> invested<00:21:30.790> over<00:21:31.790> a<00:21:31.820> couple<00:21:32.360> of<00:21:32.510> years 00:21:33.750 --> 00:21:33.760 align:start position:0% to be invested over a couple of years 00:21:33.760 --> 00:21:38.169 align:start position:0% to be invested over a couple of years and<00:21:34.760> that<00:21:35.330> those<00:21:35.929> people<00:21:35.960> are<00:21:36.530> are<00:21:37.100> known<00:21:37.910> so 00:21:38.169 --> 00:21:38.179 align:start position:0% and that those people are are known so 00:21:38.179 --> 00:21:40.480 align:start position:0% and that those people are are known so we<00:21:38.299> know<00:21:38.419> who<00:21:38.540> they<00:21:38.660> are<00:21:38.860> their<00:21:39.860> identities 00:21:40.480 --> 00:21:40.490 align:start position:0% we know who they are their identities 00:21:40.490 --> 00:21:45.970 align:start position:0% we know who they are their identities are<00:21:40.700> revealed<00:21:43.510> so<00:21:44.510> now<00:21:44.630> what<00:21:44.960> is<00:21:45.110> what<00:21:45.740> are<00:21:45.860> the 00:21:45.970 --> 00:21:45.980 align:start position:0% are revealed so now what is what are the 00:21:45.980 --> 00:21:47.440 align:start position:0% are revealed so now what is what are the responsibilities<00:21:46.640> of<00:21:46.669> that<00:21:46.790> council<00:21:47.299> you 00:21:47.440 --> 00:21:47.450 align:start position:0% responsibilities of that council you 00:21:47.450 --> 00:21:49.960 align:start position:0% responsibilities of that council you might<00:21:47.600> be<00:21:47.750> wondering<00:21:47.960> so<00:21:48.770> those<00:21:49.220> are<00:21:49.429> three 00:21:49.960 --> 00:21:49.970 align:start position:0% might be wondering so those are three 00:21:49.970 --> 00:21:52.930 align:start position:0% might be wondering so those are three also<00:21:50.270> the<00:21:50.809> first<00:21:51.049> one<00:21:51.290> our<00:21:51.530> protocol<00:21:52.400> upgrades 00:21:52.930 --> 00:21:52.940 align:start position:0% also the first one our protocol upgrades 00:21:52.940 --> 00:21:56.020 align:start position:0% also the first one our protocol upgrades the<00:21:53.720> melon<00:21:53.960> codebase<00:21:54.380> will<00:21:55.370> need<00:21:55.549> to<00:21:55.700> evolve 00:21:56.020 --> 00:21:56.030 align:start position:0% the melon codebase will need to evolve 00:21:56.030 --> 00:21:58.630 align:start position:0% the melon codebase will need to evolve from<00:21:56.419> February<00:21:57.110> onwards<00:21:57.290> so<00:21:58.040> the<00:21:58.400> men<00:21:58.520> in 00:21:58.630 --> 00:21:58.640 align:start position:0% from February onwards so the men in 00:21:58.640 --> 00:21:59.890 align:start position:0% from February onwards so the men in council<00:21:58.940> is<00:21:59.030> going<00:21:59.179> to<00:21:59.240> be<00:21:59.330> responsible<00:21:59.780> for 00:21:59.890 --> 00:21:59.900 align:start position:0% council is going to be responsible for 00:21:59.900 --> 00:22:02.890 align:start position:0% council is going to be responsible for deploying<00:22:00.890> new<00:22:01.340> contracts<00:22:01.970> and<00:22:02.660> most 00:22:02.890 --> 00:22:02.900 align:start position:0% deploying new contracts and most 00:22:02.900 --> 00:22:05.890 align:start position:0% deploying new contracts and most importantly<00:22:03.470> managing<00:22:04.059> ENS<00:22:05.059> sub<00:22:05.570> domain 00:22:05.890 --> 00:22:05.900 align:start position:0% importantly managing ENS sub domain 00:22:05.900 --> 00:22:07.000 align:start position:0% importantly managing ENS sub domain names<00:22:06.169> that 00:22:07.000 --> 00:22:07.010 align:start position:0% names that 00:22:07.010 --> 00:22:11.320 align:start position:0% names that -<00:22:07.280> the<00:22:07.429> official<00:22:07.929> melon<00:22:08.929> contracts<00:22:10.330> important 00:22:11.320 --> 00:22:11.330 align:start position:0% - the official melon contracts important 00:22:11.330 --> 00:22:13.930 align:start position:0% - the official melon contracts important to<00:22:11.450> note<00:22:11.630> here<00:22:11.929> all<00:22:12.559> upgrades<00:22:13.160> are<00:22:13.370> obtained 00:22:13.930 --> 00:22:13.940 align:start position:0% to note here all upgrades are obtained 00:22:13.940 --> 00:22:16.539 align:start position:0% to note here all upgrades are obtained only<00:22:14.179> which<00:22:14.750> means<00:22:14.960> that<00:22:15.260> the<00:22:15.590> user<00:22:15.770> will 00:22:16.539 --> 00:22:16.549 align:start position:0% only which means that the user will 00:22:16.549 --> 00:22:18.909 align:start position:0% only which means that the user will never<00:22:16.910> be<00:22:17.150> forced<00:22:17.510> into<00:22:17.690> an<00:22:17.960> upgrade<00:22:18.320> and<00:22:18.770> it 00:22:18.909 --> 00:22:18.919 align:start position:0% never be forced into an upgrade and it 00:22:18.919 --> 00:22:21.039 align:start position:0% never be forced into an upgrade and it will<00:22:19.100> require<00:22:19.370> explicit<00:22:20.090> and<00:22:20.480> voluntary 00:22:21.039 --> 00:22:21.049 align:start position:0% will require explicit and voluntary 00:22:21.049 --> 00:22:25.030 align:start position:0% will require explicit and voluntary action<00:22:21.799> from<00:22:22.010> the<00:22:22.160> user<00:22:22.340> -<00:22:23.049> to<00:22:24.049> upgrade<00:22:24.500> to<00:22:24.890> new 00:22:25.030 --> 00:22:25.040 align:start position:0% action from the user - to upgrade to new 00:22:25.040 --> 00:22:28.240 align:start position:0% action from the user - to upgrade to new contracts<00:22:26.080> so<00:22:27.080> the<00:22:27.169> site<00:22:27.380> the<00:22:27.679> second<00:22:28.100> thing 00:22:28.240 --> 00:22:28.250 align:start position:0% contracts so the site the second thing 00:22:28.250 --> 00:22:30.850 align:start position:0% contracts so the site the second thing are<00:22:28.490> resource<00:22:29.270> allocation 00:22:30.850 --> 00:22:30.860 align:start position:0% are resource allocation 00:22:30.860 --> 00:22:33.580 align:start position:0% are resource allocation so<00:22:31.580> as<00:22:31.940> I<00:22:32.150> mentioned<00:22:32.540> in<00:22:32.809> the<00:22:33.200> beginning<00:22:33.320> of 00:22:33.580 --> 00:22:33.590 align:start position:0% so as I mentioned in the beginning of 00:22:33.590 --> 00:22:35.080 align:start position:0% so as I mentioned in the beginning of the<00:22:33.710> presentation<00:22:33.830> we<00:22:34.400> have<00:22:34.549> the<00:22:34.700> inflation 00:22:35.080 --> 00:22:35.090 align:start position:0% the presentation we have the inflation 00:22:35.090 --> 00:22:36.820 align:start position:0% the presentation we have the inflation pool<00:22:35.330> which<00:22:35.809> can<00:22:35.990> be<00:22:36.110> used<00:22:36.320> for<00:22:36.440> various 00:22:36.820 --> 00:22:36.830 align:start position:0% pool which can be used for various 00:22:36.830 --> 00:22:39.130 align:start position:0% pool which can be used for various things<00:22:36.950> and<00:22:37.429> the<00:22:38.150> melon<00:22:38.450> council<00:22:38.809> is<00:22:38.900> going<00:22:39.080> to 00:22:39.130 --> 00:22:39.140 align:start position:0% things and the melon council is going to 00:22:39.140 --> 00:22:41.289 align:start position:0% things and the melon council is going to be<00:22:39.340> responsible<00:22:40.340> for<00:22:40.370> making<00:22:40.640> decisions<00:22:40.880> as 00:22:41.289 --> 00:22:41.299 align:start position:0% be responsible for making decisions as 00:22:41.299 --> 00:22:45.580 align:start position:0% be responsible for making decisions as to<00:22:41.330> work<00:22:42.049> to<00:22:42.260> fund<00:22:42.559> or<00:22:42.860> not<00:22:43.070> which<00:22:43.340> project<00:22:44.590> to 00:22:45.580 --> 00:22:45.590 align:start position:0% to work to fund or not which project to 00:22:45.590 --> 00:22:48.700 align:start position:0% to work to fund or not which project to accept<00:22:46.419> as<00:22:47.419> a<00:22:47.450> funding<00:22:47.840> request<00:22:48.200> or<00:22:48.380> token 00:22:48.700 --> 00:22:48.710 align:start position:0% accept as a funding request or token 00:22:48.710 --> 00:22:51.220 align:start position:0% accept as a funding request or token swap<00:22:48.980> or<00:22:49.220> merger<00:22:49.700> etc<00:22:50.600> so<00:22:50.720> that's<00:22:50.840> gonna<00:22:51.020> be<00:22:51.110> a 00:22:51.220 --> 00:22:51.230 align:start position:0% swap or merger etc so that's gonna be a 00:22:51.230 --> 00:22:54.159 align:start position:0% swap or merger etc so that's gonna be a melon<00:22:51.620> council<00:22:52.390> responsibility<00:22:53.390> and<00:22:53.630> the 00:22:54.159 --> 00:22:54.169 align:start position:0% melon council responsibility and the 00:22:54.169 --> 00:22:58.110 align:start position:0% melon council responsibility and the last<00:22:54.350> one<00:22:54.590> are<00:22:54.890> network<00:22:55.640> parameters<00:22:56.380> so<00:22:57.380> I 00:22:58.110 --> 00:22:58.120 align:start position:0% last one are network parameters so I 00:22:58.120 --> 00:23:01.419 align:start position:0% last one are network parameters so I when<00:22:59.120> when<00:22:59.630> I<00:22:59.660> presented<00:23:00.169> the<00:23:00.590> melon<00:23:00.830> engine<00:23:01.220> I 00:23:01.419 --> 00:23:01.429 align:start position:0% when when I presented the melon engine I 00:23:01.429 --> 00:23:03.220 align:start position:0% when when I presented the melon engine I mentioned<00:23:01.910> the<00:23:02.059> asset<00:23:02.360> management<00:23:02.660> gas<00:23:02.960> price 00:23:03.220 --> 00:23:03.230 align:start position:0% mentioned the asset management gas price 00:23:03.230 --> 00:23:06.220 align:start position:0% mentioned the asset management gas price and<00:23:04.059> what<00:23:05.059> I<00:23:05.090> didn't<00:23:05.390> say<00:23:05.570> is<00:23:05.600> that<00:23:05.929> this<00:23:06.169> is 00:23:06.220 --> 00:23:06.230 align:start position:0% and what I didn't say is that this is 00:23:06.230 --> 00:23:08.380 align:start position:0% and what I didn't say is that this is actually<00:23:06.620> a<00:23:06.710> variable<00:23:07.100> that<00:23:07.400> we<00:23:07.640> can<00:23:07.820> change 00:23:08.380 --> 00:23:08.390 align:start position:0% actually a variable that we can change 00:23:08.390 --> 00:23:11.230 align:start position:0% actually a variable that we can change and<00:23:08.690> that<00:23:08.809> we<00:23:08.900> can<00:23:09.049> adjust<00:23:09.320> so<00:23:10.250> based<00:23:10.880> on<00:23:11.090> our 00:23:11.230 --> 00:23:11.240 align:start position:0% and that we can adjust so based on our 00:23:11.240 --> 00:23:13.539 align:start position:0% and that we can adjust so based on our financial<00:23:11.750> modelling<00:23:12.380> it<00:23:12.650> is<00:23:12.799> not<00:23:12.980> expected 00:23:13.539 --> 00:23:13.549 align:start position:0% financial modelling it is not expected 00:23:13.549 --> 00:23:15.669 align:start position:0% financial modelling it is not expected that<00:23:13.580> this<00:23:14.179> asset<00:23:14.750> management<00:23:15.230> gas<00:23:15.470> price 00:23:15.669 --> 00:23:15.679 align:start position:0% that this asset management gas price 00:23:15.679 --> 00:23:18.039 align:start position:0% that this asset management gas price would<00:23:15.950> need<00:23:16.130> to<00:23:16.280> change<00:23:16.549> very<00:23:17.330> often<00:23:17.809> actually 00:23:18.039 --> 00:23:18.049 align:start position:0% would need to change very often actually 00:23:18.049 --> 00:23:20.760 align:start position:0% would need to change very often actually it<00:23:18.559> I<00:23:18.950> think<00:23:19.370> it<00:23:19.490> would<00:23:19.669> be<00:23:19.790> quite<00:23:20.330> rare 00:23:20.760 --> 00:23:20.770 align:start position:0% it I think it would be quite rare 00:23:20.770 --> 00:23:24.370 align:start position:0% it I think it would be quite rare because<00:23:21.850> it's<00:23:22.850> expected<00:23:23.480> that<00:23:23.510> market 00:23:24.370 --> 00:23:24.380 align:start position:0% because it's expected that market 00:23:24.380 --> 00:23:27.340 align:start position:0% because it's expected that market dynamics<00:23:24.890> will<00:23:25.270> adjust<00:23:26.270> will<00:23:26.929> make<00:23:27.080> you<00:23:27.260> know 00:23:27.340 --> 00:23:27.350 align:start position:0% dynamics will adjust will make you know 00:23:27.350 --> 00:23:30.480 align:start position:0% dynamics will adjust will make you know natural<00:23:27.770> adjustments<00:23:28.429> but<00:23:29.000> we<00:23:29.419> can't<00:23:29.690> predict 00:23:30.480 --> 00:23:30.490 align:start position:0% natural adjustments but we can't predict 00:23:30.490 --> 00:23:32.680 align:start position:0% natural adjustments but we can't predict there<00:23:31.490> are<00:23:31.580> some<00:23:31.730> scenarios<00:23:31.940> that<00:23:32.390> we<00:23:32.510> can't 00:23:32.680 --> 00:23:32.690 align:start position:0% there are some scenarios that we can't 00:23:32.690 --> 00:23:34.330 align:start position:0% there are some scenarios that we can't really<00:23:32.809> predict<00:23:33.260> so<00:23:33.740> you<00:23:33.830> want<00:23:33.980> to<00:23:34.070> have<00:23:34.190> the 00:23:34.330 --> 00:23:34.340 align:start position:0% really predict so you want to have the 00:23:34.340 --> 00:23:37.690 align:start position:0% really predict so you want to have the option<00:23:34.490> to<00:23:34.940> adjust<00:23:35.780> the<00:23:36.080> gas<00:23:36.260> price<00:23:36.700> basically 00:23:37.690 --> 00:23:37.700 align:start position:0% option to adjust the gas price basically 00:23:37.700 --> 00:23:40.659 align:start position:0% option to adjust the gas price basically to<00:23:37.940> reduce<00:23:38.270> it<00:23:38.510> in<00:23:38.750> two<00:23:38.960> cases<00:23:39.280> the<00:23:40.280> first<00:23:40.490> one 00:23:40.659 --> 00:23:40.669 align:start position:0% to reduce it in two cases the first one 00:23:40.669 --> 00:23:43.390 align:start position:0% to reduce it in two cases the first one is<00:23:40.880> if<00:23:41.240> there<00:23:41.750> is<00:23:41.900> a<00:23:42.110> network<00:23:42.559> usage<00:23:42.950> spiked 00:23:43.390 --> 00:23:43.400 align:start position:0% is if there is a network usage spiked 00:23:43.400 --> 00:23:46.180 align:start position:0% is if there is a network usage spiked overnight<00:23:43.970> you<00:23:44.419> might<00:23:44.600> want<00:23:44.809> to<00:23:44.900> reduce<00:23:45.410> the 00:23:46.180 --> 00:23:46.190 align:start position:0% overnight you might want to reduce the 00:23:46.190 --> 00:23:48.669 align:start position:0% overnight you might want to reduce the gas<00:23:46.370> price<00:23:46.669> and<00:23:47.030> the<00:23:47.510> second<00:23:47.780> one<00:23:47.929> is<00:23:48.140> market 00:23:48.669 --> 00:23:48.679 align:start position:0% gas price and the second one is market 00:23:48.679 --> 00:23:51.250 align:start position:0% gas price and the second one is market volatility<00:23:49.070> so<00:23:49.640> here<00:23:49.940> we're<00:23:50.150> exposed<00:23:50.570> to<00:23:50.809> the 00:23:51.250 --> 00:23:51.260 align:start position:0% volatility so here we're exposed to the 00:23:51.260 --> 00:23:53.260 align:start position:0% volatility so here we're exposed to the melon<00:23:51.559> eat<00:23:51.770> the<00:23:51.980> price<00:23:52.280> but<00:23:52.610> also<00:23:52.760> the<00:23:53.090> East 00:23:53.260 --> 00:23:53.270 align:start position:0% melon eat the price but also the East 00:23:53.270 --> 00:23:57.700 align:start position:0% melon eat the price but also the East USD<00:23:54.140> price<00:23:54.410> so<00:23:54.890> the<00:23:55.429> melon<00:23:55.700> USD<00:23:56.150> prize<00:23:56.299> and<00:23:56.960> if 00:23:57.700 --> 00:23:57.710 align:start position:0% USD price so the melon USD prize and if 00:23:57.710 --> 00:24:00.130 align:start position:0% USD price so the melon USD prize and if there<00:23:57.919> is<00:23:58.070> extreme<00:23:58.820> market<00:23:59.240> conditions<00:23:59.870> or 00:24:00.130 --> 00:24:00.140 align:start position:0% there is extreme market conditions or 00:24:00.140 --> 00:24:03.549 align:start position:0% there is extreme market conditions or volatility<00:24:00.590> you<00:24:01.400> might<00:24:01.610> want<00:24:01.850> to<00:24:01.970> reduce<00:24:02.960> the 00:24:03.549 --> 00:24:03.559 align:start position:0% volatility you might want to reduce the 00:24:03.559 --> 00:24:05.620 align:start position:0% volatility you might want to reduce the asset<00:24:04.220> management<00:24:04.520> gas<00:24:04.790> price<00:24:05.059> in<00:24:05.240> order<00:24:05.360> to 00:24:05.620 --> 00:24:05.630 align:start position:0% asset management gas price in order to 00:24:05.630 --> 00:24:07.690 align:start position:0% asset management gas price in order to stay<00:24:05.840> before<00:24:06.350> the<00:24:06.679> goal<00:24:06.860> for<00:24:07.070> the<00:24:07.190> user<00:24:07.370> and 00:24:07.690 --> 00:24:07.700 align:start position:0% stay before the goal for the user and 00:24:07.700 --> 00:24:09.299 align:start position:0% stay before the goal for the user and competitive<00:24:08.630> compared<00:24:08.990> to<00:24:09.080> other 00:24:09.299 --> 00:24:09.309 align:start position:0% competitive compared to other 00:24:09.309 --> 00:24:13.720 align:start position:0% competitive compared to other alternatives<00:24:10.780> so<00:24:11.780> that<00:24:12.080> part<00:24:12.730> under 00:24:13.720 --> 00:24:13.730 align:start position:0% alternatives so that part under 00:24:13.730 --> 00:24:17.110 align:start position:0% alternatives so that part under governance<00:24:14.210> caters<00:24:15.049> to<00:24:15.370> the<00:24:16.370> maintainer<00:24:16.760> of 00:24:17.110 --> 00:24:17.120 align:start position:0% governance caters to the maintainer of 00:24:17.120 --> 00:24:20.159 align:start position:0% governance caters to the maintainer of the<00:24:17.210> network<00:24:17.750> and<00:24:18.049> to<00:24:18.980> the<00:24:19.100> users<00:24:19.429> as 00:24:20.159 --> 00:24:20.169 align:start position:0% the network and to the users as 00:24:20.169 --> 00:24:22.320 align:start position:0% the network and to the users as you<00:24:20.230> might<00:24:20.559> have<00:24:20.769> understood<00:24:20.859> by<00:24:21.279> now<00:24:21.309> so<00:24:22.269> to 00:24:22.320 --> 00:24:22.330 align:start position:0% you might have understood by now so to 00:24:22.330 --> 00:24:26.009 align:start position:0% you might have understood by now so to wrap<00:24:22.749> up<00:24:23.100> our<00:24:24.100> model<00:24:24.580> both<00:24:25.090> token<00:24:25.570> economic 00:24:26.009 --> 00:24:26.019 align:start position:0% wrap up our model both token economic 00:24:26.019 --> 00:24:29.700 align:start position:0% wrap up our model both token economic and<00:24:26.259> governance<00:24:27.059> addresses<00:24:28.259> the<00:24:29.259> needs<00:24:29.529> of 00:24:29.700 --> 00:24:29.710 align:start position:0% and governance addresses the needs of 00:24:29.710 --> 00:24:33.029 align:start position:0% and governance addresses the needs of all<00:24:30.009> of<00:24:30.159> the<00:24:30.279> stakeholders<00:24:31.409> we<00:24:32.409> maximize 00:24:33.029 --> 00:24:33.039 align:start position:0% all of the stakeholders we maximize 00:24:33.039 --> 00:24:35.460 align:start position:0% all of the stakeholders we maximize network<00:24:33.489> effect<00:24:33.850> by<00:24:34.029> opening<00:24:34.809> up<00:24:34.989> the<00:24:35.200> melon 00:24:35.460 --> 00:24:35.470 align:start position:0% network effect by opening up the melon 00:24:35.470 --> 00:24:38.389 align:start position:0% network effect by opening up the melon token<00:24:35.769> so<00:24:35.980> that<00:24:36.129> we<00:24:36.220> can<00:24:36.399> align<00:24:36.789> interest 00:24:38.389 --> 00:24:38.399 align:start position:0% token so that we can align interest 00:24:38.399 --> 00:24:40.560 align:start position:0% token so that we can align interest participant<00:24:39.399> interest<00:24:39.759> across<00:24:40.090> the<00:24:40.239> network 00:24:40.560 --> 00:24:40.570 align:start position:0% participant interest across the network 00:24:40.570 --> 00:24:44.430 align:start position:0% participant interest across the network and<00:24:41.909> we<00:24:42.909> managed<00:24:43.269> to<00:24:43.330> have<00:24:43.480> a<00:24:43.869> token<00:24:44.169> model 00:24:44.430 --> 00:24:44.440 align:start position:0% and we managed to have a token model 00:24:44.440 --> 00:24:47.519 align:start position:0% and we managed to have a token model that<00:24:44.619> is<00:24:44.970> aligning<00:24:45.970> the<00:24:46.210> token<00:24:46.539> value<00:24:46.869> with 00:24:47.519 --> 00:24:47.529 align:start position:0% that is aligning the token value with 00:24:47.529 --> 00:24:50.779 align:start position:0% that is aligning the token value with the<00:24:47.710> usage<00:24:48.009> of<00:24:48.399> the<00:24:48.639> network<00:24:48.970> and<00:24:49.269> finally<00:24:50.019> we 00:24:50.779 --> 00:24:50.789 align:start position:0% the usage of the network and finally we 00:24:50.789 --> 00:24:53.460 align:start position:0% the usage of the network and finally we recognize<00:24:51.789> that<00:24:51.820> the<00:24:52.299> users<00:24:52.659> are<00:24:52.929> the<00:24:53.259> most 00:24:53.460 --> 00:24:53.470 align:start position:0% recognize that the users are the most 00:24:53.470 --> 00:24:56.369 align:start position:0% recognize that the users are the most important<00:24:54.389> the<00:24:55.389> really<00:24:55.779> the<00:24:55.899> key<00:24:56.109> player<00:24:56.350> in 00:24:56.369 --> 00:24:56.379 align:start position:0% important the really the key player in 00:24:56.379 --> 00:24:59.340 align:start position:0% important the really the key player in our<00:24:56.859> ecosystem<00:24:57.580> without<00:24:57.999> users<00:24:58.359> at<00:24:59.109> the<00:24:59.259> end 00:24:59.340 --> 00:24:59.350 align:start position:0% our ecosystem without users at the end 00:24:59.350 --> 00:25:02.879 align:start position:0% our ecosystem without users at the end of<00:24:59.440> the<00:24:59.529> day<00:24:59.710> we<00:25:00.220> fail<00:25:00.460> so<00:25:01.149> we<00:25:01.720> designed<00:25:02.590> a 00:25:02.879 --> 00:25:02.889 align:start position:0% of the day we fail so we designed a 00:25:02.889 --> 00:25:05.220 align:start position:0% of the day we fail so we designed a system<00:25:03.159> that<00:25:03.609> makes<00:25:04.450> sure<00:25:04.570> that<00:25:04.659> the<00:25:04.899> users 00:25:05.220 --> 00:25:05.230 align:start position:0% system that makes sure that the users 00:25:05.230 --> 00:25:07.859 align:start position:0% system that makes sure that the users are<00:25:05.559> valued<00:25:06.100> properly<00:25:06.669> and<00:25:06.850> supported<00:25:07.840> by 00:25:07.859 --> 00:25:07.869 align:start position:0% are valued properly and supported by 00:25:07.869 --> 00:25:11.729 align:start position:0% are valued properly and supported by technical<00:25:08.649> skills<00:25:08.950> so<00:25:10.230> with<00:25:11.230> that<00:25:11.379> I<00:25:11.619> would 00:25:11.729 --> 00:25:11.739 align:start position:0% technical skills so with that I would 00:25:11.739 --> 00:25:13.950 align:start position:0% technical skills so with that I would like<00:25:12.009> to<00:25:12.249> announce<00:25:13.239> that<00:25:13.450> the<00:25:13.600> melon 00:25:13.950 --> 00:25:13.960 align:start position:0% like to announce that the melon 00:25:13.960 --> 00:25:16.080 align:start position:0% like to announce that the melon technical<00:25:14.320> council<00:25:14.619> applications<00:25:15.399> start 00:25:16.080 --> 00:25:16.090 align:start position:0% technical council applications start 00:25:16.090 --> 00:25:20.249 align:start position:0% technical council applications start today<00:25:17.460> so<00:25:18.460> so<00:25:19.149> really<00:25:19.480> the<00:25:19.629> technical<00:25:19.869> council 00:25:20.249 --> 00:25:20.259 align:start position:0% today so so really the technical council 00:25:20.259 --> 00:25:23.070 align:start position:0% today so so really the technical council is<00:25:20.440> it's<00:25:21.190> supposed<00:25:21.639> to<00:25:21.820> be<00:25:22.029> inclusive<00:25:22.749> and 00:25:23.070 --> 00:25:23.080 align:start position:0% is it's supposed to be inclusive and 00:25:23.080 --> 00:25:25.979 align:start position:0% is it's supposed to be inclusive and open<00:25:23.289> so<00:25:24.039> if<00:25:24.369> there<00:25:25.029> are<00:25:25.119> external<00:25:25.389> developers 00:25:25.979 --> 00:25:25.989 align:start position:0% open so if there are external developers 00:25:25.989 --> 00:25:28.849 align:start position:0% open so if there are external developers who<00:25:26.289> have<00:25:26.320> the<00:25:26.980> skills<00:25:27.340> or<00:25:27.580> feel<00:25:27.970> like 00:25:28.849 --> 00:25:28.859 align:start position:0% who have the skills or feel like 00:25:28.859 --> 00:25:32.220 align:start position:0% who have the skills or feel like competence<00:25:29.859> for<00:25:30.190> that<00:25:30.639> role<00:25:30.960> we<00:25:31.960> would<00:25:32.080> be 00:25:32.220 --> 00:25:32.230 align:start position:0% competence for that role we would be 00:25:32.230 --> 00:25:35.849 align:start position:0% competence for that role we would be really<00:25:32.710> happy<00:25:33.070> to<00:25:33.249> receive<00:25:33.720> applications<00:25:34.859> so 00:25:35.849 --> 00:25:35.859 align:start position:0% really happy to receive applications so 00:25:35.859 --> 00:25:38.369 align:start position:0% really happy to receive applications so you<00:25:35.919> can<00:25:36.100> reach<00:25:36.279> out<00:25:36.460> to<00:25:36.489> MCC<00:25:37.119> at<00:25:37.419> melon<00:25:37.749> 4.com 00:25:38.369 --> 00:25:38.379 align:start position:0% you can reach out to MCC at melon 4.com 00:25:38.379 --> 00:25:40.859 align:start position:0% you can reach out to MCC at melon 4.com but<00:25:39.070> all<00:25:39.399> of<00:25:39.580> the<00:25:39.700> men<00:25:39.850> interpret<00:25:40.389> the<00:25:40.690> main 00:25:40.859 --> 00:25:40.869 align:start position:0% but all of the men interpret the main 00:25:40.869 --> 00:25:43.200 align:start position:0% but all of the men interpret the main port<00:25:41.109> team<00:25:41.259> is<00:25:41.379> here<00:25:41.739> everyone<00:25:42.669> is<00:25:42.820> wearing 00:25:43.200 --> 00:25:43.210 align:start position:0% port team is here everyone is wearing 00:25:43.210 --> 00:25:45.479 align:start position:0% port team is here everyone is wearing leather<00:25:43.629> jackets<00:25:43.779> so<00:25:44.559> if<00:25:44.830> you<00:25:45.009> want<00:25:45.190> to<00:25:45.369> reach 00:25:45.479 --> 00:25:45.489 align:start position:0% leather jackets so if you want to reach 00:25:45.489 --> 00:25:47.879 align:start position:0% leather jackets so if you want to reach out<00:25:45.700> in<00:25:45.879> person<00:25:46.330> use<00:25:47.080> DEFCON<00:25:47.499> for<00:25:47.679> that<00:25:47.799> we 00:25:47.879 --> 00:25:47.889 align:start position:0% out in person use DEFCON for that we 00:25:47.889 --> 00:25:48.840 align:start position:0% out in person use DEFCON for that we would<00:25:48.009> be<00:25:48.100> very<00:25:48.249> happy<00:25:48.519> as<00:25:48.669> well 00:25:48.840 --> 00:25:48.850 align:start position:0% would be very happy as well 00:25:48.850 --> 00:25:53.279 align:start position:0% would be very happy as well so<00:25:50.190> this<00:25:51.190> was<00:25:51.730> the<00:25:52.450> last<00:25:52.480> melon<00:25:53.080> port 00:25:53.279 --> 00:25:53.289 align:start position:0% so this was the last melon port 00:25:53.289 --> 00:25:56.249 align:start position:0% so this was the last melon port presentation<00:25:53.980> it's<00:25:54.970> it<00:25:55.480> was<00:25:55.629> another<00:25:55.869> for<00:25:56.169> me 00:25:56.249 --> 00:25:56.259 align:start position:0% presentation it's it was another for me 00:25:56.259 --> 00:25:57.950 align:start position:0% presentation it's it was another for me to<00:25:56.559> do<00:25:56.889> that 00:25:57.950 --> 00:25:57.960 align:start position:0% to do that 00:25:57.960 --> 00:26:01.409 align:start position:0% to do that melon<00:25:58.960> port<00:25:59.139> will<00:25:59.259> not<00:25:59.379> exist<00:25:59.710> by<00:25:59.919> defcon5<00:26:00.419> but 00:26:01.409 --> 00:26:01.419 align:start position:0% melon port will not exist by defcon5 but 00:26:01.419 --> 00:26:03.659 align:start position:0% melon port will not exist by defcon5 but that<00:26:01.570> doesn't<00:26:01.929> mean<00:26:02.109> that<00:26:02.440> it's<00:26:03.070> the<00:26:03.190> end<00:26:03.279> of 00:26:03.659 --> 00:26:03.669 align:start position:0% that doesn't mean that it's the end of 00:26:03.669 --> 00:26:06.090 align:start position:0% that doesn't mean that it's the end of melon<00:26:04.149> it's<00:26:04.299> actually<00:26:04.720> just<00:26:04.960> the<00:26:05.230> beginning<00:26:05.679> I 00:26:06.090 --> 00:26:06.100 align:start position:0% melon it's actually just the beginning I 00:26:06.100 --> 00:26:07.950 align:start position:0% melon it's actually just the beginning I believe<00:26:06.129> so<00:26:06.759> thank<00:26:07.179> you<00:26:07.359> and<00:26:07.450> I<00:26:07.539> think<00:26:07.600> we<00:26:07.809> can 00:26:07.950 --> 00:26:07.960 align:start position:0% believe so thank you and I think we can 00:26:07.960 --> 00:26:09.419 align:start position:0% believe so thank you and I think we can upload<00:26:08.230> the<00:26:08.499> melon<00:26:08.739> theme<00:26:08.919> for<00:26:09.190> the 00:26:09.419 --> 00:26:09.429 align:start position:0% upload the melon theme for the 00:26:09.429 --> 00:26:11.220 align:start position:0% upload the melon theme for the incredible<00:26:09.909> work<00:26:10.029> to<00:26:10.239> make<00:26:10.389> this<00:26:10.570> a<00:26:10.809> reality 00:26:11.220 --> 00:26:11.230 align:start position:0% incredible work to make this a reality 00:26:11.230 --> 00:26:21.420 align:start position:0% incredible work to make this a reality thank<00:26:12.159> you 00:26:21.420 --> 00:26:21.430 align:start position:0% 00:26:21.430 --> 00:26:23.490 align:start position:0% you