100,000 ETH burned, Hop adds Optimism support & more - The Daily Gwei Refuel #195 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel where recap the latest news and ethereum ecosystem i'm your host anthony sosano and today's the 26th of august 2021 all right everyone let's get right into it so 100 000 eath has now been burned since erp 1559 went live around 20 days ago that is a lot of eth right over 300 million dollars worth at current prices um and a lot of this burning has been led by nft mania of course but it's just been absolutely incredible to see uh kind of like the speed at which this ether has been burned i mean if you annualize this out i think it works out to about 1.7 million each burned now who knows if the kind of like i guess current network activity is going to keep up for for at least like the next uh i mean

what yeah a year or so like yeah minus 20 days sort of thing um but you know in saying that i think that it's just been wild to see the fact that like the fees are high but people are paying them like i mean i was doing some transactions before like nft related ones and the fees just like are so high um and you know i'm paying them because it's worth it and i think that's what a lot of people are doing as well they're just it's worth it now i mean it's profitable for them to do so um but yeah it's just been crazy to kind of see this but i did want to talk about two things in relation to this one of them is i guess people coming at me um a lot of the time and asking me questions about kind of like the price and why the eave

price hasn't reacted to this you know why it's just i mean it hasn't been going down exactly i mean it is up from when one five five nine went live but it's been like crabbing around right we're in like this little mini crab season where it's just like pinging between like 3k and 3.4 k or whatever um and i mean all i can say is that like it's it's not gonna just like react immediately i mean i've spoken about efficient markets before and how i don't believe that markets are efficient i believe they're incredibly inefficient but at the end of the day markets don't just look at kind of one factor there's a million other things that go on and we can even look back at history of something like a bitcoin harvening for example where you know bitcoin happening is a 50 reduction in supply and if you

actually go back and look at the char it doesn't really seem to have like a massive effect on bitcoin until about six months after the harvening goes through so that's a that's a quite a long period of time um but but it also shows that this the kind of like scarcity side is just one side of it you need the demand side to match it so you know right now while we're in this kind of like crabbing i guess like the the demand and supply side have kind of matched with each other because you have i guess like a sideways movement where you know how you have people selling and you have people buying and it's mainly it's mainly just like bots kind of trading with each other and and and some traders in now and people just like doing their daily activities whether they're taking

profits back to eat and stuff like that i mean there's a whole lot of that kind of stuff going on there um but at the end of the day uh you're just going to have to wait you know wait till the time kind of comes out time passes and over the long term obviously you know all of us believe that is going to go up in value but over the short term it's just it's it's not going to react like like a lot of people expected it would react and i think uh on top of that if you kind of look at the amount of eight that will have been burned in six months right if you kind of get i guess like take the annual amount which is 1.7 million you have that for six months if if it was to take that long to play out like the bitcoin

harvestings do which i don't believe is going to be the case i i don't think it's going to take that long to kind of play out like that but if you if you kind of like take that then it's it's really only um sorry the amount of eight that would be burned here would be like 800 and something a thousand which is which is insane that's an it's insane amount of money it's billions of dollars worth of eighth at that point um but yeah as i was saying like there's so many more kind of like factors that go into markets are going to why eat is going up or down like if the overall market is bearish and the trend is bearish it doesn't really matter if there's really like good news coming out all the time it's it's just going to be a thing where

the price is going to go down until it gets to a point where everyone's just like okay well you know it's gone down a lot like everyone's kind of wrecked right now let's let's buy because like we're sitting on these kind of like um we're sitting on cash right now we think this is a good entry and then basically the price goes back up and the sentiment changes overnight i mean you know the funny thing is about the crypto sentiment is it doesn't just change overnight it literally changes within like 10 minutes like if the price is crashing right say the price has gone down like five percent in like an hour and then all of a sudden it bounces back up by by five percent within that kind of like hour you have two completely different sentiments and i've seen this play out on twitter it's actually so funny to

watch play out because you have the sentiment of extremely bearish while um things are going down maybe five percent a day which is actually for crypto i mean it's a normal crypto day but still like it's a day that you know you watch the charts and you see these kind of like red candles you're like oh my god what's happening um and then like an hour later if the price goes up five percent because it just bounces back up uh automatically everyone's like really bullish again and it's just it's quite insane just how i guess i glued people out of their screens and glued to the charts they are i mean i am too i have the charts up pretty much all the time but like i i mean that doesn't really affect the way i kind of like view these things i'm obviously always playing the long-term

game um and kind of like to relate that back to this really you can't let recency buyers get the bet they get the best of you in times like this if the price is going down even for like a month who cares i mean we saw what happened when the price came off 4 400 down to 1700 and it did that for a little while right we kind of crashed in may through june through july and then we started going back up and then everyone suddenly turned like super bullish again but there were a bunch of us who remained bullish throughout and like you know this is just kind of like the way it is this is the way crypto goes and that was a really brutal drop as well mind you so yeah it's just been quite funny to kind of like see that play out

and see people kind of say you know why isn't eth mooning immediately it's because it's just markets are complex there's so many other things that are going on um and there's no such thing in my mind as efficient markets like especially for something like eighth that is such a multi-faceted asset and there's so many kind of like misunderstandings around it too like as i mentioned when 1559 went live so many people kind of said oh wait i didn't know he'd be burning this much eighth and it's just that was so insane to me really it really was because these are not people that are just like random people in the in in the industry the people that i actually see it been regularly kind of paying attention to this stuff i know they kind of um you know watch the refuel or read my tweets

or respond to them or whatever and i was saying like exactly how much ethan's gonna get burned based on the calculations that justin drake did and you know people being surprised so even if people are spending every day in the ecosystem even if they're studying this stuff they can still be kind of taken aback by things like this um and then the final thing i'll say on this is also that one five five nine really was only like a teaser right we're working towards that full ultrasound money which is basically one five five nine is burning and the proof of stake issuance which is about ninety percent less than the current proof of work issuance which would reduce the um supply sorry uh have the issuance go negative so i think it's currently about one percent or something like that net negative a year which i mean that that i

think is more bullish than one five five nine for a number of reasons that i've gone through before but yeah i just wanted to kind of like give some color there and clarify things for people who may you know be kind of like confused or kind of thinking you know why isn't the price going up blah blah you know revisit this and i i mean even if it takes a few months revisit it and then you know in a few months we'll be like oh well you know we're going up because of one five five nine it's so bullish look at how much eight we're burning um but you know if you wait until that happens well then you have to buy at a higher price so if you have like a long-term outlook and you really don't care at the end of the day

about where you buy in you're like you're kind of dca you know whatever uh it's these times you know and unless you kind of like think we're going down a lot times like this when the market's just going sideways it's usually a pretty decent time to buy but it's kind of hard right because if the market is generally bearish and there's like a bearish trend and then it's just like a sideways for a month but then it kind of still crashes after that you kind of feel shitty and i've been there before plenty of times but generally i my own ruling kind of like whenever i buy into something i don't like buying into pumps ever like if something's gone up a lot i really don't like buying into that um and i know yesterday i spoke about how you know you shouldn't let that um kind

of like dissuade you from investing in something but i'm talking about things going up like very quickly in a short period of time you know some things can go up 10x in like a week i really don't like buying into that sort of stuff unless there's actual like strong fundamentals backing it up like actually infinity is a perfect example of this where there was strong fundamentals backing it up but generally if there's something just done at 10 times pumped for absolutely no reason i hate jumping into that sort of stuff that's not something i will do whereas uh uh you know if it's just being quiet for a while and actually see the fundamentals improving and people just aren't paying attention to it yet well then yeah i'm gonna jump into it i'm gonna i'm gonna probably place a bet there um but that's like a whole nother thing there i'm

gonna leave it at that for now but yeah just great to see a hundred thousand eighth being burned next i guess milestone is what half a million a million you know we're going to get there um i guess like if you kind of like extrapolate this 20 days times up by five we'll be there in 100 days at half a million so yeah very much looking forward to that all right on to the next thing here from danny ryan so he gave an update today on i guess e2 consensus layer whatever you want to call it uh in his finalized number 28 uh update here called the road to altair edition now for those of you who may not be familiar with this i've been talking about it a bit on the refill lately but altair is the first eth2 network upgrade hard fork whatever

you want to call it uh i mentioned that paramount the the test net that is actually getting wound down soon but that forked and you know everything went when uh went nicely there and they're currently doing testing and everything on that the next test net is uh scheduled to upgrade on september 2nd which is prata and then following that there'll be a mainnet fork so we may see main net fork being what end of september early october sort of thing and then as i've said before all eyes on the merge like that is literally what everyone is going to be working on uh pretty much everyone i would say some people are still going to be working on some other things with within ethereum core but generally uh most of the developers researchers and any other kind of like ecosystem participants are going to be working on

the merge which is super exciting right like i mean they're already doing that as i mentioned before it's not like we're waiting until this kind of goes live on main net and then then we'll work on the merge there's already lots of work being done there but i think maybe we're still on track for q1 2022 i just i hate giving dates or like release windows generally or kind of like especially with ethereum core stuff because sometimes it can take a lot longer than we would like and then you you know i mean even layer two stuff has taken a lot longer than we would like so just generally this sort of stuff um just take any dates with a grain of salt but yeah i mean q1 2022 that'd be awesome even if it's like the very end of q1 like march 30th or whatever um

that'd be quite funny but yeah q1 q2 for the merge let's hope that we can kind of stick to that and i'm really looking forward to that but i'm also looking forward to this uh so if you're if you're running an eth2 validator definitely pay attention to these updates because there's going to be a a client release from the various teams whatever client you're running to update to this once the mainnet fork is announced it hasn't been announced yet there's no date for it or whatever but it's coming so definitely keep an eye on the on the various channels uh just so you can upgrade your validator and beacon node so justin drake posted a i guess like a post from eath research today on twitter where he basically said this has been an mev research bake breakthrough um mev smoothing for consensus stability

trustless mev oracles and potential for mav burn beyond base fees now i'm just highlighting this because some of you may be interested in it but i read through it and i'm gonna be honest i didn't understand most of it because it is like way out of like what i work on this is protocol protocol level stuff right here very technical stuff but i always pay attention to things that people like justin drake are excited about because justin drake's a core researcher he's been working on mev related things i mean you've probably heard about him talk about this on on on bankless before uh but generally yeah if you're interested in kind of this sort of stuff definitely go check out this blog post uh you know i mean i guess like it's a research post as much as i didn't really kind of like understand it

uh i think there's a lot of great discussion going on in here and i think that the more discussion more eyes on mav that we have the better so yeah definitely go check that out so uri from starkware announced that stockx has now crossed 10 billion in cumulative trading volume across dydx and diversify um and most of the action on so rare and immutable the other two apps that they have live on on on um on star x is just minting and not yet trading uh so that because those are nft platforms uh and then uri says his guess is that they'll cross 100 billion dollars well before the end of q1 20 turning two uh turns out there was no need to wait for next week which is a prediction that he gave a few days ago um you know i mean i went through diy

dex's growth i think on yesterday's refill the day before about how you know they added the token the growth's been like pretty amazing to see on their layer 2 exchange and stuff like that um but diversify's had a lot of great growth as well they've got a bunch of really innovative products on there that they're adding to so if you haven't checked out diversify definitely go do that and of course these nft platforms are also hitting up here so rare is pretty popular i've heard um it is centered around football or soccer as aussies call it but i'm not a sports guy so i haven't really followed it too closely um and immutable i mean i'm gonna actually talk about something that they announced today it's perfect segue um but immutable has really just a couple of apps on there right now like god's unchained and i think guild of

guardians and maybe one other or something right now um but yeah it's still mostly just minting and not trading um but yeah great great to see this kind of from uri here but also he said that um starcx had settled 106 000 transactions on dydx over just this past day consumed 169 million gas which is 0.1 percent of the daily gas on ethereum l1 at 1600 gas per transaction and he's kind of like comparing this with the original l1 dydx this would have cost 200k gas per transaction for a total of 21 billion gas 12 of the network's daily gas so stockx scales in prod 120x which is an absolutely massive improvement right and to kind of like i guess maybe simplify it a bit

focusing on this like 1600 gas per transaction so for an example when you send like an eighth transaction it's 21 000 gas right so this is much cheaper than even just like a simple ether transaction which is the cheapest thing you can do on ethereum uh uh sorry simple simplest transaction you can do on ethereum which is absolutely amazing and the fact that they've just been able to scale this by 120x is incredible so yeah i mean i'm loving starkx and starkware they're just like no no hype just like you know scaling ethereum in kind of like their own way and doing a really great job of it so yeah really excited to see that uh now let's talk about that immutable update that i was that i mentioned so immutable have announced that the imx public token sale will be happening on 8th of september on coin list so you can

get the full details here now unfortunately for some reason australia is barred from this sale when i click through to this link it says your jurisdiction is not allowed and i read the sale terms and it said you know the usual united states um uh i guess like uh i think i remember i think china or something like that and and canada was on there but then they said like other jurisdictions and i i mean maybe they haven't updated yet but i didn't see australia in there but it seems that australia is unfortunately on the list that cannot participate and you can't even use a vpn because coin list has a kyc requirement and and all that kind of stuff there as well so unless you have a way to i guess like get someone who has an id in another kind of part of the world that's eligible you

unfortunately won't be able to participate i know i have a lot of aussies that watch and listen to the refuel so it's unfortunate for us that we won't be able to kind of like participate in this but at the same time i i kind of like spoke about how they're doing an airdrop to people who had godzilla and chain cards or have used immutable x or played kind of gods unchained and stuff like that of um of eth instead of imx because they can't airdrop imx to united states citizens but i think that they're going to be able to airdrop imx to australian citizens uh they didn't mention anything about that they just said the u.s would be barred from it but unfortunately it wouldn't surprise me to see that they will also bar australians from getting the imx airdrop but i don't know i don't

think that's confirmed yet or anything like that hopefully the the australians can still get that and and and the other people as well like canadians and and any other restricted jurisdictions of course but yeah unfortunate to kind of like see that there but you know i mean this is just like uh i guess their token might you know i don't think the tokens going live on 8th of september this is just a token sale not sure exactly when the token's going live maybe it's in kind of like the details here but for those of you who don't know immutable x is an l2 platform for nfts i've talked about them a lot on the refuel before but um i guess like cool that they're doing this sale and if you can't participate definitely go check it out um and you know it'll be on coinless i think there

are also sale limits on coin list and stuff like that as well to try and make it fair these sales are always kind of like a bit iffy if i'm being honest uh just because of the fact that they put limits on things you know then they open it up and whales just gobble it up if there's kind of like enough uh i guess like um enough kind of um a space left and stuff like that and coin lists can can be very i guess unstable during these sales i've participated in a couple of these sales myself and definitely the experience is far from desirable because everyone's trying to get in and their queue system hasn't really worked too well in the past but yeah generally um i guess just like if you want if you're interested in this definitely go check it out anyway

but i would love to see kind of like uh better models in the future maybe of these kinds of things but it's hard because there's no perfect model when it comes to token sales and yeah just like uh definitely go check this out if you want to link to the youtube description so loopering has crossed two billion dollars in trading volume on their l2 uh so this has been a great kind of ascent for loop ring here they've been doing a lot of great work i spoke about them yesterday about how they're going to be supporting nfts on their l2 platform and the interesting thing about loop ring and i i i think i've discussed this before but basically they're kind of like their own little ecosystem as an l2 right they're not sharing their l2 with other kind of apps or anything like that

they're not a generalized l2 but they're their own little ecosystem and they're just like making their i guess like uh they're looping specific l2 as powerful as it can be and if you if you've traded on there you'll know what i mean it's a very smooth experience the deposit withdrawal experience is great uh it's not just the exchange it's also the payments infrastructure they have set up the smart wallet all that sort of stuff so yeah it's just great to see their continued growth here i mean two billion dollars in trading volumes nothing to scoff at obviously l2s have quite a little while uh to go before they match l1 trading volumes even uni swap on optimism is only doing i think four or five million dollars last time i checked of 24 hour volume on a good day whereas uni swap on l1 is doing like a billion

dollars every 24 hours so it's a quite a quite a big difference there but that's network effects for you at the end of the day and you know the same network effects that keep uh that kind of like uh work against i guess like ethereum killers are going to work against altoos for a little bit but i think that the harmonization becomes that l2's uh are something that we want to push users towards we don't want to push them towards the ethereum killers obviously um so over time i expect that to kind of like balloon up but also optimism and even arbitrarily they're just like rolling out slowly they have guarded launchers they're not trying to i guess like scale to thousands of transactions per second from the get-go because they would actually have a lot of empty blocks as well a lot of ghost blocks

because there's not just that kind of demand yet i mean if you look at how much even something like the polygon pos chain is doing as a benchmark here uh they're doing about 90 transactions per second um and if you look at optimism i think it's like one transaction per second on average so really until these platforms actually have like demand for the the the sky high scalability i think it's okay that they have guard rails on and they're kind of like taking it slow and at the end of the day if you give people people kind of like more scalability they're going to eat it up but a lot of it gets eaten up with spam transactions too and that's why you need fees i mean all these chains offering kind of like sub sent fees i just don't see that being sustainable or lasting

forever because the change is just going to be hit with spam attacks eventually right like just i mean not just like an attack but just spam in general people just doing things that are ridiculous i mean this happens on layer one ethereum as well and people pay the fees to do it and that eth gets burnt so that's all well and good but generally it doesn't last very long you know if you have a chain that can do tens of thousands of transactions per second this applies to l2 as well don't get me wrong this isn't just like the ethereum kills this is l2s then what ends up happening is that if the transaction fees are subset you do have that spam problem so you know it's a kind of a balancing act there but still great to kind of like see i guess like loot brings growth here and i'm

looking forward to seeing kind of like what obviously optimism and arbitrary uh do as they kind of continue to scale out and towards the end of the year so i spoke about the egl drama the other day you know that that kind of like token that was used uh well i guess like that the project was trying to force into the ecosystem to be used to uh vote up or down on the gas limit as kind of like some pseudo-on-chain governance well unfortunately the aragon team got embroiled in all that drama pretty heavily and alexei sharp the uh i guess like lead of the aragon team here and for those who don't know if eragon is an ethereum one client um he put out this thread basically saying he's gonna get off twitter for a few days because it started to affect his mental state um

because of all the kind of drama that's been going on with with kind of like the aragon team egl in general and like geth and all that sort of stuff um you can read his thread or buildings in the youtube description but i want to what i wanted to focus on was this kind of like thing he's his mental state with this sort of stuff on twitter i mean there's a lot of and i'm not going to say i don't contribute to this but there's a lot of like toxicity that goes on on twitter there's a lot of joking that goes around and some of it kind of like be very hard to translate especially because there's a lot of people who are from other countries where english isn't their first language so sarcasm normally gets gets lost and people may feel like they're being attacked people

who aren't used to being in the public eye definitely would feel like they're getting attacked uh and i think alexei definitely falls into that bucket as he's a core developer he doesn't really spend much time on twitter uh he's spent time building right uh whereas someone like me who spends all the time on twitter uh i definitely kind of developed a very thick skin for it and i can just like laugh it off but there's a lot of people out there who um who who you know are very deeply affected by this sort of stuff and you know as i said i know that i sometimes i contribute to this sort of stuff like i make fun of cardinal all the time whatever i mean for me that's just like the way i am it's like my banter my australian humor i don't mean to like be

you know an or toxic about it and really these days i'm just blocking all the idiots who come at me as well with like oh you know theorem's gonna die blah blah okay goodbye on the block list you go but but generally i think what i wanted to just advise here is that if you see people who may not be very active on twitter getting it you know attacked or like having to deal with toxicity or kind of like i mean tweeting out things that may be weird and and maybe kind of like unlike them if you know them reach out to them or even even if you don't you can just reach out to them and dm them and say hey like i really appreciate your work don't worry about like all this stuff that's coming at you on twitter it's just noise and people really appreciate

that because that's what happened with me when i went through some drama last year i had a lot of people reach out to me and say hey i got your back you know i'm just ignore this noise maybe take a break for a few days it'll blow over because it does i mean crypto twitter's memory is like the shorter than a goldfish but um yeah i just like a little tip there just reach out to people because uh a lot of these people who aren't used to the public eye just don't know how to deal with that and that's not their fault they're just not used to kind of like this attention and really i think social media in general kind of like i mean it's pretty bad when you when you're when you have like a lot of people kind of are coming after you

because you can feel like you're stuck in a room that's just getting smaller and smaller and you have all these people coming at you with all these comments and it makes you just feel really really so yeah if you know people that and you see this happening on twitter and you know the person and even if you don't know the person just simple dm they might they may not see it they may see it i mean even not just the dm you can reply to their tweets and basically say hey man i got your back like ignore the trolls ignore the haters and all that sort of stuff and they appreciate that because i mean i know i've spoken to some of them they really really appreciate that uh so yeah i just wanted to call out that there but if you want to get kind of

like a bit of background on what happened with aragon egl and all that sort of stuff here um you can read alexa's thread i'll link it in the youtube description and you can go check it out there some super exciting news out of hop protocol today they are now supporting optimism so you can basically go and transfer assets in and out of optimism within minutes uh pete kim here put out a kind of like screenshot of the interface where you can send usdc from optimism to polygon and now these are really really fast transactions like within minutes you know i've spoken about how optimistic rollups have the main drawback of that kind of like seven day withdrawal period um and you know that that people were like oh well this is like massive turn-off this is like a buzz this is like a a um something that would kill

optimism or arbitrary whatever this is kind of like a deal breaker but i know i've been talking about these bridges like hop and connects and all that sort of stuff that were coming and now they're here i mean hopsier supports optimism as you can see go from optimism with usdc to polygon you can go to ethereum all that sort of stuff within minutes instead of having to wait that seven day withdrawal period so this is absolutely awesome more and more assets are going to be added over time and for those of you who may would be wondering how this works and how a hot protocol can enable uh you know instant kind of withdrawals within minutes uh it's basically they have like these liquidity providers that sit um in between i guess like optimism and polygon for example and take on that kind of like seven-day

withdrawal period for you because they know that in seven days they're going to get those assets so essentially it's like an iou to them um but it's cryptographically guaranteed that they're going to get those assets and they take on the risk for a small fee you you swap through them you get kind of like your instant access to that liquidity on you know the ethereal main chain or polygon whatever and they get kind of like the fee and the tokens when they kind of like um when they come to come to market there so you can kind of like uh i i guess like um read this uh this help uh desk article here from hop exchange or hot protocol sorry of how to provide liquidity uh and become like a liquidity provider for this sort of stuff which obviously the more liquidy there is the

better the bridge is going to be the more that we can kind of bridge in and out with with low slippage and stuff like that um but yeah this is really really cool to see and great to see that you know i'm not just talking about it saying coming soon all the time it's actually here and very timely and you know they're going to support arbitrary i mean they're going to support everything right like all these bridges they they lose nothing by supporting everything they gain a lot right they have to support everything that's their kind of their main use case here so we won't have to worry about kind of like the seven day withdrawal kind of like periods anymore it's just going to be very very seamless and smooth through these bridges all right last thing to talk about was something that i missed the other day

barnbridge announced their smart alpha product now this product is a little complex people who aren't um kind of like familiar with it i'm not gonna explain it now because i probably butchered the explanation you can go check it out in this blog post here i'll link this in the youtube description for you to kind of get your head around what this is but essentially they explained here and and the trdr is that um smart alpha i mean i'll just read this paragraph out here so what smart alpha does is it allows users to calibrate their exposure to the performance of an underlying asset so say you want exposure to like eath right and you want to calibrate that exposure to have less risk or more risk so and it does this by so by regularly redistributing an aggregated pool of the underlying asset between two two groups

of users a senior side and a junior side when the price of eth goes up for example seniors give up some of their assets to the juniors and vice versa and put another way juniors junior users are buying asset price risk off of senior users guaranteeing them price protection up to a certain threshold in exchange for greater upside potential so this is kind of like those uh i mean you might see uh more advanced traders talking about this on like twitter and maybe in podcast and stuff like that this but these are like exotic financial products that these people use to hedge their exposure right like you can use options you can use other types of derivatives um you can obviously um now use like the smart alpha product which is actually going live very soon i think they said here

um that it's going live where do they say it they said it somewhere anyway um but it's going live kind of quite soon here um but essentially you can use this kind of like hedgerow exposure to eth as an example we're turning out like an asset here so if you're a junior user you can buy this price risk off of senior users um and you know guarantee them price protection up to a certain threshold and then in exchange for that price protection for them you get greater upside potential so yeah and the outcome is a two-sided marketplace for asset price risk generalizable to any compatible erc20 token today this is actually like a pretty big deal and a pretty big product especially for people who you know i guess like a traders are funds and people who i specialize in

this kind of like um asset risk exposure and um i guess diversifying their risk and wanting to kind of manage that um maybe it's not going to be used by everyday traders like me or you or maybe it is because these products typically weren't very easy to use before but now with barbridge's solution they become easier to use and i think at the end of the day making it really easy for people to understand as well is a big is a big kind of piece of the puzzle here but if you do want to understand it i suggest giving this blog post a read it does a much better job of explaining it than i can um and then definitely go kind of like check out the barn bridge protocol in general it's it's a it's a really great tool i think it's just working to democratize i guess these

advanced or exotic financial products and letting users like me and you who may not have kind of like the i guess um the expertise in this sort of stuff to get involved with it in a really easy and friendly way so i mean i'm always down for promoting these tools because that's exactly what we're trying to do with d5 i know d5 has taken a backseat to nfts recently but people are still chugging along here they're still building and d5 is gonna i mean i still think d5 is gonna be bigger than than anything it's just gonna take a little while to get there because right now d5 seems like unsexy compared to nfts but that's okay you know d5 you know people are still building it's going to have it's a day in the sun again um and products like um bomb bridges smart

alpha are definitely going to be one of those products that i see a lot of people using once i guess default comes back into fashion but even so like a lot of people are going to be using these anyway as long as i know about it at the end of the day like as long as you're aware of it you can kind of use it if it appeals to you so that's why i kind of highlight this stuff on the refill all the time but anyway i think that's it for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone