Aave on Polygon, Element Finance announced & more - The Daily Gwei Refuel #90 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel where i recap the latest news in the ethereum ecosystem i'm your host anthony sosano and today is the first of april 2021. all right first of april 2021 you all know what that means right it is april fool's day so it is probably the most uh unbearable day to be on the internet if i'm being honest you know even though you know it's april fool's you can still kind of like fall for a lot of the things that people post and you know i've posted a couple of things uh you know already um you know i i posted a tweet saying i just sold all my eighth for btc that's a pretty obvious april fool's joke but i'm sure i'm still going to get people being like what the hell because they don't realize what day it is

you know i guess a lot of the days kind of blur together these days especially you know i guess like a lot of um different countries still have lockdowns uh because of covert so yeah the days definitely blend together here uh but on that note andre uh put out a i guess like a tweet saying eip3455 is even more important than eip1559 please support and i commented saying you know this would solve so many issues i'm willing to pay one million dollars to get this implemented asap now obviously this is an april fool's joke what this eip is it's an eip to add a pseudo command to to ethereum now for those who don't know what the sudo command is it basically gives you i guess like super admin privileges over a system this is typically used in linux based systems

uh if you ever use linux you would have used uh would have used this um so yeah essentially it's it's funny because like you can go to like i guess the the summary here and i guess where does it say it it says well maybe in the um yeah in the summary it definitely says that i saw it somewhere here yeah it said with sudo anyone could free that the value locked in like the burn address which is 17 billion dollars of of tokens and ether and this would lead to economic boom that would end poverty and world hunger i mean you know you're just just reading through it you can kind of see that this is obviously a joke right but it's still funny to see how many people kind of fell for it especially people who maybe don't know kind of like what

pseudo is and everything like that so i can kind of get that and maybe sometimes these april fool's jokes can go too deep you know i've seen some companies and some kind of i guess like you know different kind of people go like really deep on these things and you know they really try to trick people which you know is a bit of fun but at the same time i can understand why people get frustrated and maybe even go as far as to take the day off the internet on on today but yeah anyway i'm sure you're gonna see plenty of stuff on twitter today uh from from a lot of different people saying a lot of different things i will take everything you see with a grain of salt i hope no projects announce any kind of major things today on on kind of like twitter and any major

upgrades because it would just confuse everyone so maybe today we'll have like a nice little break and then be back at it tomorrow and maybe i'll have nothing to talk about on the refill except uh kind of april fool's jokes tomorrow we'll see but yeah good good to keep that in mind for today definitely all right i'll do some actual project updates now so the synthetics uh dap uh staking dap sorry is now compatible with optimistic ethereum on layer two so you know how i was saying the other day on the refuel that you know synthetics is still working with optimism just because their public main net is delayed till july doesn't mean they're not still working with a lot of the apps that they've been working with already on their private um kind of mainly implementation here and this is what they're what they're doing right they're

continuing to do this they're continuing to work with synthetics on this and i'm sure we're going to see more coming from from synthetics here sorry from from optimism here with regards to onboarding different apps you know in a kind of like i guess permissioned manner so that's going to be really cool but yeah if you haven't checked this out definitely go do so if you're a synthetic staker this definitely applies to you you know the reason why synthetics looked into layer 2 i guess like much quicker than other um kind of like apps did was because the layer 2 staking uh sorry because staking on the synthetics app was very expensive for like smaller stakers you know and and you get like a reward each week in snx tokens and typically for the smaller stakers it would cost like 150 200 to claim these rewards and the rewards wouldn't

even be worth it because it would be you know less than than the gas fees so definitely you know obviously synthetics has put a lot of um work into this and their their plan i mean their phase rollout plan for for it is basically synthetics to exist entirely on on layer two which is going to be a pretty big boon i think as well not just for staking but also for the exchange you know cheap transactions fast transactions so like i'm really excited to see how that kind of pans out still a little bit of a while away but yeah going to keep an eye on that one for sure speaking of scalability ave announced today i guess like that they're exploring scalability frontiers uh of course they are i mean every app is right now and they're the first kind of i guess uh you know scalability

technology that they're going to be using is uh polygon now our full disclosure here i'm an advisor to polygon just want to get that out there but i did want to discuss kind of like i guess you know what's kind of happening here with with scaling now you guys will know that um polygon i've discussed it before it's not a layer 2 it is a side chain the matic pos chain is is a side chain because it's valid it shares a different kind of validator set it is not secured by the ethereum main chain um and i've discussed how i think that is is okay it's not you know it's it's not like it's the end of the world uh but i do obviously have a preference for layer twos on ethereum that are secured by ethereum now the layer two ecosystem is definitely not ready for ave

right are they going to layer two wouldn't really do much right now a lot of the different apps aren't on there the composibility is not there whereas on polygon they are building out a little bit of an ecosystem here um you know so i totally get are they going with with kind of polygon first and then seeing how the layer two space kind of shakes out because you know ava's probably thinking themselves okay well do we go on you know optimism do we go on arbetrim do we go with starkware and they're like okay what's the quickest way to give our users kind of like just cheap transactions for it for the meantime and and i think polygon was that quickest way because polygon's already there it's already set up it's on mainnet they have a bunch of apps on there so i think that's kind of like what they

uh what they kind of went with but they also kind of detail here that they're going to take like a multi-kind of market approach which i guess is like a multi-kind of evm chain approach with eth l1 as like settlement layer so obviously rv tokens are still going to live on on l1 you know i'm pretty sure most of the activity will still happen on layer one the governance and stuff will still happen on layer one ethereum um but they're gonna go with obviously you know polygon as a side chain as part of the first wave here uh and then they're going to i mean there's i mean and and on that note there's also like you know different bridges available already for polygon you know zappa has bridges too so just these usability things i mean it makes sense there's none of that stuff

for layer 2 and ethereum yet so definitely makes sense for abe to kind of start here um but from from my reading of this they definitely want to kind of like adopt layer twos as well they're not just gonna let like someone fork their protocol into layer two right uh so that that's pretty cool as well um yeah so i guess on on kind of that note as well uh in terms of uh you know i guess uh uh matic uh polygon and and ave um i'm curious to see if any kind of other i guess main d5 apps go go to polygon uh you know rather than going on layer two it's gonna be a bit of a little bit of a mess for a little while i think uh because of the fact that you know it's so early in the layer two kind of

landscape that people are just placing bets essentially which i think is fine um and you know it's fun it's funny because like with polygon the reason like there's there's kind of like two major reasons why i signed up to be an advisor with them one of them is that their team is extremely ethereum aligned they are not in you know they have no interest in being parasitic to ethereum they want to be as additive to ethereum as possible uh they are not you know competitive they've never positioned themselves as an ethereum killer they're not someone like you know uh binance with binary smart chain where that they have positioned themselves as an ethereum killer right um you know and that's that's that's one reason and the other reason is that they're actually going to be working on layer 2 technology as well so not only will they have their side

chain stuff like the matic pos chain they're also going to be offering optimistic roll up zk roll up and and some other layer 2 kind of solutions uh of four different teams to build with so this could just be like a you know a stop gap for ave and then eventually you know maybe the pos side chain gets upgraded to some kind of layer two uh sort of thing so we might see that happen which i which i think you know there is a future for that definitely um you know and and from that kind of point of view i think that it's better that these projects go through something that's ethereum aligned then go to something that's not uh so that's how that's kind of how i think about it and you know i'm not you know some people might call me in hypocrite and say oh you're always you

know hating on side chains you're always hating on things and just because you're an adviser to polygon you're like you know i guess like tooting polygons horn it's like well i mean i just explained the two main reasons right i would rather support an extremely ethereum aligned kind of side chain uh kind of ecosystem with with polygon um and also support the layer two efforts then kind of like support any of the other stuff that's actually parasitic i mean you know all these other chains like cardano and polkadot i mean they've openly said that they are coming for ethereum right they think they're better than ethereum i have never seen uh kind of polygon uh do marketing like that all they say is you know you know come to us we've got cheaper fees which of course they do because you know they obviously have a a different validator set right

they um they have staking not not uh kind of like mining uh and things like that as well which i mean isn't really a huge scalability thing but it's a different kind of model there so from that point of view you know i i don't think i'm being a hypocrite i mean people are still going to call me it but whatever um but i definitely think that it's it's you know a positive kind of move that are there deployed to polygon instead of bsc right if you if you take that line of thinking i think that's positive and maybe other will go with go to bsc because i don't i don't even blame projects for going to these other chains as like a defensive measure because if you don't right there's going to be another project that either forks you right and just copies your code and basically

essentially deploys themselves there and gets growth or there's going to be other projects that spin up and kind of take your market share on those chains if those chains ever kind of get like some sizeable market share so i totally understand from a business perspective why projects are doing this and it really is on the ethereum ecosystem and the layer 2 builders to essentially out compete you know out build them you know build layer twos that are super scalable and you know basically convince people that hey layer two is ready layer two is here you can build on it and it shares the security of ethereum and it shares like the ethos of ethereum with decentralization so why would you kind of like want to build on a side chain or another chain for example i mean the side chain term as i've explained so many times is is

crappy and i said i would stop using it actually um but i think at this point like people just know the term but essentially you know anything can be a side chain to ethereum so uh you know i would rather it just be a polygon an ethereum aligned team um that you know adds value back to the ecosystem rather than be a parasitic team like uh like like finances with bsc and we and like a lot of the other chains are essentially i mean there's there's a laundry list of quote-unquote ethereum killers out there that have marketed themselves as that that have advertised themselves as that um and you know they definitely kind of like have not really had that much success because i mean i think the major reason is because they weren't evm compatible which they're all scrambling to do now

so it's going to be interesting to see how that plays out definitely but i guess yeah this is cool for a lot of the um users who are priced out of using ave on ethereum layer 1 will keep an eye on how this goes and kind of like what other solutions are there looks to in the scalability space so speaking of scalability again so immutable x is a layer 2 nft exchange that i've spoken about a lot so today they announced that openc has partnered up with them for gas free uh layer 2 transactions for nfts now this is huge i mean openc just raised uh i can't remember how much they raised but they raised like 10 million the other day i remember i spoke about it i remember the exact figure um so they're huge right you know i mean i'm sure a lot of you have used openc at

this point they're a huge nft marketplace and the fact that they're building on immutable as their scalability solution is is awesome right i think it's really really awesome um because i mean as i was just saying i much prefer layer twos right to different kind of blockchains even if they're ethereum aligned uh you know for multiple reasons right they're more secure they're more decentralized they inherit ethereum security they use eth as like the unit of account right as like the fee token and they pay fees to the ethereum network in eth right for the security so totally aligned there and you know i think immutable is one of those teams that is extremely aligned with this vision if you follow them on twitter you'll know what i mean all their tweets are basically kind of going through how they believe

in you know the mission of having a layer to ecosystem on top of an extremely decentralized base layer instead of spinning up new chains so that's why you know i mean a major reason why i like to support support them uh and you know i'm sure a lot of you heard kind of robbie the co-founder on the bankless podcast the other day a few weeks ago now that i mentioned uh that was talking about layer 2 and like how he was just basically saying you know we they don't want to compromise on this sort of stuff which which i i deeply respect obviously because it speaks to what i believe in and i hope what a lot of you believe in as well so really really cool to see this from openc and i guess like uh welcome to the immutablex ecosystem so alchemix announced basically their

plans for i guess what the alchemics dow is going to look like now there's uh i guess this blog post here i'll just get loaded up here where they go through it i mean this isn't like a live or anything yet there's just basically a high level overview of what the alchemics dow is going to look like uh they basically kind of talk about how staking is going to work you know how you'll be able to stake your your a lkx tokens uh earn fees you know on the protocol if you participate in governance and sort of things like that as well uh if you keep scrolling down here it talks about kind of like how the voting points will work in the dow um and how the the stakers will become the defenders of the protocol through an insurance kind of fund as well and one thing that actually

stood out to me was basically kind of i guess uh this kind of sentence here or this kind of paragraph here where they talk about layer twos um they say well layer two solutions come in several shapes we can't arbitrarily pick any layer 2 because we have zero knowledge about which solution will emerge as the winner but we're optimistic that dapps will converge on one during the development of alchemic stow now i don't know how many puns you picked up here arbitrarily um i think prefers to arbitrarily zero knowledge obviously refers to zk roll ups and optimistic obviously refers to optimistic roll-ups so kudos to them for getting three puns in here uh in one sentence but then they go on to say by harnessing the throughput of l two solutions alcomix dow will be inclusive of all ethereums without sacrificing our

ethos of decentralization first so there we have it again right another project that really just gets it right really gets that decentralization comes first and you know you can achieve that with layer two and i'm sure they're already talking to a bunch of teams about this and kind of what l2s to adopt here so really really cool to see this but i mean i suggest giving this a read if you're if you're a fan of alchemics i mean it's one of my favorite d5 projects in the ecosystem right now i know i talk about them a lot obviously i hold lkx alkex tokens um you know i mean i wouldn't i i guess like if if i didn't it'd be a bit stupid for me to be bullish on the project without owning the token um but yeah i think that they're really really cool

and what they're building is really valuable so excited to see the alchemics dow go live in the future so the ethereum push notification service or epns announced today that they're going to be partnering up with uniswap uh as part of their pilot project now for those who don't know epns is essentially decentralized a decentralized notification protocol on ethereum now you know i'm sure a lot of you i mean i've explained this before on the refill but i'm sure a lot of you get annoyed the same as me that you know unless you're using i guess like uh you know there's some third-party services out there that give you notifications about the you know things happening in d5 but a lot of the time there isn't you know you might you know metamask will give you a notification if your transaction is confirmed or if it fails

but it won't tell you if your maker cdp is about to be liquidated right or you make a vault sorry um it's not going to tell you kind of like what your yield was for the day right or kind of like if your yield if your tokens have unlocked if you've had them locked in some kind of staking mechanism and then they're unlocked you know it's not going to tell you all of these kind of things you want to be notified for whereas epns will and they're building a protocol around it to do it in a decentralized way so you know i think it's just really cool that they've been able to land uni swap as a pilot project partner here because i mean as i've said before uni swap has the best brand awareness out of anything on ethereum i actually think that unisop rivals

ethereum itself with brand in terms of brand awareness because unisop is i mean i've explained this before but unisop is one of the first d5 apps if not the first d5 app that pretty much everyone will use when they come into the ecosystem right the uni token was the best airdrop ever um you know it gave so many people so much money uh for basically just interacting with the protocol at one point in its lifetime and it's also freely accessible on coinbase so a lot of people get exposed to it so it's really great to see that you know an early stage project like epns here is teaming up with with unisop to do this and i guess disclosure here i'm a small seed investor in epms been supporting them for quite a while now the team is awesome um you know the two basically the two co-founders are based

out of india um you know they're building you know a great protocol i think and it came out of a hackathon i believe as well which is really cool so yeah definitely go check this out if you haven't yet and if you're a builder definitely contact them and get involved with them if you're interested in push notifications for for your app so another thing everyone on twitter was talking about yesterday was the fey labs or fey protocol genesis sale now again disclosure i'm a seed investor in faye protocol um i hate having to give these disclosures all the time but i feel i need to because i don't want to just be known for just shilling things that i have bags of but anyway so what the fey genesis sale was is basically a way to get uh fey tokens which are the the stable

coin that's being created here and then you'll be able to get tribe as well so you'll be airdropped uh tribe tokens for doing this too now the reason i think a lot of people were talking about this was because um uh one a lot of people don't understand how this works and how faded protocol works under the hood i'm not gonna explain it here because i'm gonna you know mess up the explanation because you yeah i suggest reading through the documentation um because if i try to explain it and i miss something that's just going to misinform you so definitely go read the documentation there but essentially what faye is it's it's algorithmic stable coin but it doesn't it doesn't work like you know the ones you would have seen like esd and dsd and ample fourth and things like that it doesn't have kind of like a rebasing

it doesn't have coupons it no none of that sort of stuff it uses something called protocol controlled value to essentially keep the peg of of faye and it has a bunch of different mechanisms in how it does this um you can go read the documentation for this but yeah i mean this is that was one of the reasons why everyone was talking about it because they were confused about how it works and some people were asking you know why do we need another stable coin i mean i can give you kind of my rationale and why i invested in it um basically i want to see a fully decentralized fully scalable and you know stable stable coin on ethereum uh because right now you know we have dye but dye is like i would say you know 70 decentralized or something like that or even like maybe even 50

because i think last time i checked 50 of the collateral was not decentralized collateral backing die it was 50 8 and 50 like usdc and wbatc and some other collateral out there so from that point of view i wouldn't consider dyer to be 100 decentralized anymore which is fine you know without this model you know i mean maker claims that i wouldn't be able to scale which i don't know i i feel like eats market cap can get so big one day that that dye would be able to scale with just eath but that's essentially what phae is doing they basically said they're going to use just decentralized collateral um you know starting with eth obviously and you know progressing to more decentralized collateral as it becomes available on ethereum which i mean there really isn't anything else except eth right now you

could argue that some erc20 tokens are decentralized um you know i've seen people argue that link for example is decentralized but i mean i don't know right because i mean i i'm gonna get a little bit of flack for this but just as a thought experiment you know this could happen for ethan as well but i think you know there's more of a chance it could happen for something like like link or another erc20 token imagine that they decide to do the team sorry decides to do a token swap right where they basically say well we're going to do a token swap i'm going to inflate the supply to you know basically i guess like do liquidity mining we'll do something else this is exactly what ave did right ave essentially did a token top and then inflated the supplier bit which i think everyone was

fine with and i don't think that's a bad thing but you know you couldn't claim that arvel the len token was decentralized so i don't think you could claim that the link token for example is decentralized collateral right now because of the fact that if the team wanted it enough i think they could do a token swap and they could inflate the supply whereas when you think about eth inflating eth right and i guess like increasing issuance of eth would be incredibly hard probably impossible to do at this stage i think in terms of like changing its monetary policy you know you wouldn't need to do a token kind of like swap for this but kind of like doing this would be very hard uh so i think you know i mean from that point of view eth really is the only decentralized collateral right now

so that's why i kind of like back back faye and i think that phase also a just a very interesting mechanism in how it works with the with the the protocol controlled value here i do believe that it can actually work but um you know obviously we need to see kind of these things play out um in the in kind of like the markets right obviously you can do as much testing as you want but until your stable coin suffers like a 40 down day in the markets or something like that right some kind of like crazy volatility it it won't go through kind of like that trial and that test so yeah but anyway i mean i've seen a lot of people joining this sale already i'm not going to tell you whether you should buy or not here it's totally up to you to make that

decision for yourself um but yeah i mean i just think it was it was funny to see so many people talking about it today and just discovering it because of the sale so m stable another project that i'm very close to investor advisory now you guys know that uh but anyway they announced the major kind of launch today that i wanted to cover called feeder pools now what these feeder pools are essentially uh they're new kind of like pools on the m stable platform uh where you can deposit uh musd and busd for example in a 50 50 split into a pool uh and then and then earn rewards for doing so so you can earn rewards at mta tokens right now um two-thirds of those rewards are vested over six months um uh but the apy is quite high last

time i checked and you can kind of boost your rewards using mta tokens but outside of that what these feeder pools do is it basically makes um you know kind of like m stable uh into like a universe of of i guess like stable assets here so you can see from the video in this picture here there's like musd that sits in the middle and there's a bunch of stable coins that sit around it so musd itself is backed by uh different stable coins it's supposed to be a meta-stable coin uh but because it's only backed by a handful of stable coins at a time it doesn't um exactly kind of you know and you can swap between those stable coins but it doesn't allow you to swap between the non uh the stable coins that aren't in that basket this is what the feeder pools do

it basically uh makes it so that musd can be swapped for uh you know busd or gusd for example or the coins underlying musd can also be swapped for for these other coins as well so it adds a lot more liquidity a lot more kind of i guess like um tbl to the m stable ecosystem here it makes it a really strong i guess stable coin swap platform but in addition to that they also have uh btc as well so different kind of like um you know they've got mbtc which which is uh consists of like a different tokenized bitcoins so you can see here the feeder pools are tbtc and hbtc uh and obviously mbtc is backed by things like wbtc which is obviously the most popular here but yeah i'm i'm super excited about the feeder pools they've been working on

this for for a little while now i definitely think it's going to add a lot of value to the m stable ecosystem uh and yeah i mean they've got so much more coming in the road map as well i put a tweet out the other day about this uh but i won't show you guys too much on m stable i just think that a lot of people are still sleeping on on them they're just you know you're just kind of like plugging away building uh you know a lot of a lot of really cool things in the ecosystem so if you've got some stable coins and you want to do some yield farming with them definitely go give give m stable a look so another d5 project that kind of i guess came out of stealth today was element finance so element finance raised four million dollars

from a bunch of investors and and they kind of like came out of stealth while announcing this raise uh they raised it from andreessen horowitz or a16z placeholder uh that's what that's who who led the round and they had uh kind of participation from a bunch of i guess d5 native funds like scalar capital and robot ventures they also had a bunch of angels you know uh the the usuals in here like robert lesnar stani uh joe lubin as well obviously of consensus fernando from balancer mariano uh former head of smart contracts at maker and tyrone from gauntlet here um and on top of that they i've obviously introduced their team uh which are former kind of i guess eth1 and e2 researchers and developers which i mean these two people here are pretty galaxy brain if i if i'm being honest so

yeah i'm a bit disappointed i didn't get into kind of like this round myself i'm definitely going to be kind of checking them out when they launch uh they're they're kind of like i guess token on mainnet and see if i can scoop some up because i'm really bullish and uh you know charles here uh uh windra uh danny uh matt paul nicholas all joining the team here all from dfi or kind of like ethereum based backgrounds here and they have a bunch of advisors as well which uh a lot of um i guess like ethereum community members my co-founder from ethub eric connor obviously everyone knows evan van ness so i mean that the brain power behind this project is is pretty epic if i'm being honest but anyway enough gushing over the brain power let me tell you what this product actually is so at the core of it

uh element finance allows you to split the principle from the yield now what do i mean by that so this is an example that they give here say you have a hundred eighth right and you deposit that eighth into the yearn eighth volts or the y eighth vault now that vault is going to pay you an apy right say it's paying you 24 apy now say you lock it in this vault for six months um now what the the what element finance does is it splits the principal and the yield into different tokens so you'll get a token that represents the initial 100 eth right and then you'll get a token that represents the yield being generated on that which is the 24 apy you see here and then in six months you can redeem the principal obviously for the 108th and

you can redeem the yield token for the yield generated during that time now why would you want to do this well because this just gives us more money legos to play with you could imagine having the principal token as a collateral right so you can use this kind of token as collateral in avail or compound or whatever and then keep the yield token in your wallet right and or like even you know maybe use the yield token as collateral or kind of like put it in a money market or whatever so you're essentially just creating kind of like new legos you're breaking down kind of like something that is i guess like the wait token uh which is the token that you get in the in the y vault and you're breaking it down into uh two parts which i thought was really really cool

here so yeah that's the core of it that's the heart of it but the kind of like primitives that get unlocked from this are quite vast and you know i wrote a bit about this in the delegate newsletter today where i said that this just looks like magic right you know there's a lot of stuff in d-file that looks like uh i guess like it's indistinguishable from magic at this point which is just really really really cool so yeah go check out the project i'm sure there's going to be lots more information coming out about this in the future and i'm really really excited to see them go live so loopering announced a uh here's the announcement actually they announced the new liquidity mining program for their l2 exchange here um and you know it's begun uh so you can go to exchange.loopbring.io and basically do some liquidity mining

and earn some lrc tokens for different layer two pulls so if you haven't done so yet definitely go check out the the post for this i think it's gonna be for a limited time it won't last forever um but i like how lubricant's approaching this with conservative yield timing here they're not kind of doing anything too crazy where people are just gonna like ape in and then ape out sort of stuff and they're actually supporting a bunch of smaller tokens as well which i thought was really cool uh because obviously the liquidity on loop ring is uh is pretty poor for the long tail of assets right now just because uh you know there's not a lot of people on there yet and they need to kind of incentivize it so yeah really great to see them doing this and definitely go check it out if

you haven't already all right last thing i wanted to talk about was this video here of an nft necklace so what this is is basically i guess what it looks like is an apple watch that's displaying a bunch of different nfts and attached to a necklace you can see here that the gold chain with an eth kind of pendant linking the apple watch that is covered in diamonds as well to this gold chain so obviously this is extreme i mean it going to be an extremely expensive piece but i didn't maybe i didn't really want to focus on the jewelry aspect of it like i guess like the gold and the diamonds what i wanted to focus on is just the way people are kind of the creative ways people are coming up with to display uh their nfts right i mean this is super

cool like i mean i don't know if i'd wear this but i'm sure other people would wear this you know i just think it's really cool how many different ways people are coming up with to express themselves within the nft ecosystem right we've had people buy kind of like different screens for their home kind of digital screens where you can display your nfts on there um definitely you know something that you can be proud of a conversation starter all that good stuff now we have people coming out with this jewelry that you can express yourself with i mean to be honest i would wear that i mean i'm not i don't really wear gold chains but that eth logo and the gold chain wrapped around it i'd wear that i don't know about the the apple watch attached to it with the nft displaying i don't know if i'd wear that

but definitely i mean there should be more ethereum based jewelry i think that would be really cool i'm not a big jewelry where i wear it like my apple watch that's it but you know i think it's really cool and an unexplored thing here but it's it's funny because also the the the fact that the ethereum logo is attached there and i spoke about this the other day ethereum itself is becoming like the cultural hub of nfts already is the cultural hub of nfts and as an extension of that you see a lot of homage pay to the eth logo right and that's incredibly powerful the eth logo has become a symbol right a cultural symbol for i guess like the entire ethereum ecosystem whether that be d fire nfts and you know when you kind of see that logo you kind of have an emotional connection

to it i don't know about you guys maybe i'm crazy but i have an emotional connection to the ethereum kind of logo because it represents uh obviously the ethereum ecosystem of which i have deep emotional connections through and spent so much time in so i think we're going to see more of that pop out here um you know i think this is a really cool i guess you could call it proof of concept of what's what what could be done here and what people actually enjoy i mean look at the engagement on this tweet 7 000 likes 1500 retweets 571 quote retweets uh that's yeah i mean that's really really cool so yeah really uh i mean and this this kind of person's i think relatively unknown nft julia doesn't have many followers here um but definitely i mean he has an instagram that has a

bunch of jewelry on it so if you're into that sort of stuff definitely go check it out uh but this is cool just another way for people to express themselves blending the digital and physical realms as well and just something really kind of different to see here all right everyone that's it for today thank you again for watching and listening 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