AllCoreDevs call recap, Staking chat and more - The Daily Gwei Refuel #403 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily great refuel where you cap the latest news in the ethereum ecosystem i'm your host anthony sosano and today's 11th of july 2022 all right everyone let's get into it so i hope you all had a great weekend i personally spent some time away from uh i guess like crypto generally in crypto twitter generally over the weekend it was weird actually for the last two to three days i spent uh most of it not doing crypto stuff i still kind of like paid attention here and there still was on twitter a little bit but again i kind of like came back to it tonight to get ready for the refill and i was like wow okay a lot happened um while i was kind of like offline here that i kind of like didn't really uh uh get to see because i

was just kind of like spending more time offline so that was different something different i guess like probably the best to do that sort of stuff in a bear market where you know there are still things you're going to miss but it's not like a bull market where you have to kind of like be online because you're getting fomo right and you're going crazy and being like oh my god i need to know what's happening blah blah right so i spent a bit of time just playing some games i played games called little nightmares one and two it's kind of like a puzzle platformer game uh two two of them they're not that long but they were pretty enjoyable i really really liked it i liked that style of game and i built my friend a new pc so definitely stuff that was still on a

computer like around computers but definitely not really crypto related so that was kind of like refreshing there but anyway now i'm back into it i'm very excited to go through the updates from the weekend today so let's get started with tim biker's first update here which was a recap of the all-called devs call that happened friday night now this was not the one where they discussed the girly test net uh data that will be in two weeks time on july 21st and i've kind of like talked about that on last week's refuels so one when that call all called devs call happens we'll get a girly date and then after that we'll obviously get main net date for the for the merge but i've been through all that already so no need for me to rehash that here but if you do want to read tim's uh kind

of like recap thread of what happened on friday's call you can it'll be linked in the youtube description below i think what they really discussed was grey glacier which was obviously the fork to push back the difficulty bomb and then the uh sapolia test net merge that also happened i went kind of like smoothly as i discussed last week and then a few other kind of like things here and there but as i said i don't think they talked about uh uh girly uh actually uh we felt like we'd be able to pick okay so they okay there's an actual update here on girlie they're saying we felt like we may be able to pick the ttd for girly either next week during the consensus layer call or the week after during all called devs okay so it's either going to happen on the consensus layer call which

is which is a separate call to the old call devs call which will happen next week uh well next week actually being this week or the old call debs call which i think is next thursday so one of the two will get a ttd for girly which will obviously dictate the date i'm still expecting early to mid august for for girly um maybe if it happens this week that the day or the date it'll be early august um if it kind of like happens next week maybe it'll be mid-august and it could even could even be like really early august or like the last day of july or something it just depends on on how much time that they want to give um they want to give people and they want to give uh kind of like developers and everything like that to get get their

stuff ready and things like that uh but also you know if it does happen earlier and everything goes well and girly and we don't have any major issues or any merge related issues and it pretty much goes how sepolia went like even as i mentioned last week even though the sapolia merge had those issues with the configuration stuff like i don't think that's a mainnet showstopper at all i think that we should just keep still pushing forward on that because once the issues were rectified we went back up to like very high participation rates it wasn't really a big issue there so i think that that'll be fine so if we do get like a maybe a really early august uh kind of like girly um ttd at ttd time or even just like early august generally then we could still see the merge in

mid-september right like i i know last week i said that i think it'd be more likely to be late september but it just it depends on the girly day like i think if girly goes through early august then you know six weeks from girly to uh mid uh sorry to main net which brings us to about mid-september so that would probably be plenty of time i think i don't think you need more than six weeks i mean two like eight well that's that's a month and a half you do eight weeks that that ends up being two months of basically nothing happening uh there could be i mean not nothing happening there'll be shadow forks between gurley and main net but really you know i don't think we need that long so it could still happen in mid-september but i mean at this stage at this rate i feel like september

is pretty much a lock-in um probably not early so then but like mid to late september is pretty much a lock-in i'd put money on it at this stage uh but obviously depends how girly goes i don't expect there to be any issues with it since we haven't had any uh i mean like merge related issues since we haven't had any merge related issues on things like shadow forks on sepolia on roxton uh it was all either non-merge related or just config uh kind of like related stuff there so definitely looking forward to seeing when the ttd gets announced for girly as i said either on this week's consensus layer call which i believe is maybe later in the week i actually don't know what date that call is um or next thursday which is the all-called devs call so we'll have to see how that goes

uh but yeah you can read this whole thread from tim for a full breakdown of friday's awkward devs call i'll link it in the youtube description all right so last week i think last friday or thursday's refuel i was gushing a lot about defy and talking about how it's such a step up from what we're kind of like used to within the c5 traditional finance systems and all the reasons surrounding that so i'm not going to rehash that here but andrew keys actually put out a really interesting tweet over the weekend where he said the fact that celsius is paying back avair compound and makeup before humans should explain smart contracts to humanity and then there's a there's a follow-up comment here from lewis who says smart contracts are tough negotiators and then andrew says there is no negotiation which is really cool so there are like i

want to kind of like talk about this a little bit but there are a couple of differences here so the reason why celsius is paying back rv and compound and maker um well i mean there's a few reasons but the one reason is like it's it's kind of like over collateralized right for them to borrow from these platforms they had to put up collateral for it there was no way about it the protocol would not give them any money unless they put collateral up for it right so they had to put collateral there now on the on the flip side the protocol is not going to give them their collateral back until they pay their debt and yes some people can say okay well what what what if um the kind of like our token holders got together and in some of these systems like iv or

compound and maker that have on-chain governance and said well we'll just give the funds back to celsius without them paying back their their money why would they do that like there's no incentive for them to do that at all and to get any to get that through would and you'd have to kind of like convince not just like one person or one company you have to convince a lot of people it just wouldn't happen so technic while technically these sort of things can happen it just wouldn't and some of these protocols don't allow it to happen even technically right so because of that celsius knows this and like wow okay the only way we're getting a collateral out of this system is if we pay down our debts so they're prioritizing paying down their debts with defy uh over their debts with humans because they know with humans

obviously humans can go down the route of kind of like suing celsius or or bringing them to court or criminal court or anything like that over what they've done and try to get the money out of them but at the end of the day like there's no way for them to kind of like force them to do it they have to go through third parties whereas with d5 there's no need for all of that uh these protocols are just basically not even saying anything salsa they don't know who celsius is the protocol doesn't know that celsius is this kind of like um this centralized platform that is having a lot of trouble all the protocol knows is that this address put collateral into uh into the protocol that borrowed funds against it and then by per the rules of the protocol this address needs to pay back that

collateral that that that kind of like debt actually doesn't have to be that address uh you can actually have other ones paying back the debt but the debt just needs to be paid back and then the address that originally put the collateral in can take the collateral out and if they pay all the debt off they can take all their collateral back that's it no negotiations no people in the mix of this nothing it's it's kind of like between celsius and the protocol and as i said to the protocol celsius is just another user it doesn't matter who it is like the protocol doesn't differentiate because of the fact that the protocol is running on code that doesn't care about anything else except uh i i guess like the collateral factors and things like that uh depending on the protocol it's it's a bit different there

so that's why there is no no negotiation here because there is no one to negotiate with as i said you could go to the governors of these protocols and say hey like save us bail us out but that's just not going to happen right for for a number of different reasons just not going to happen um but some of these protocols don't even have the option of doing that i mean i i think i'm not sure about these ones specifically but i think a lot of them don't really have that option because we just imbalance the system and by doing so it would just just destroy the project altogether like you could imagine a thing where there's this massive whale who doesn't pay back any of their debt and then for some reason the token holders come together of the protocol and say okay we're going to

give this whale back there uh the collateral without them paying back the debt well that just leaves a massive hole in the system that needs to be paid back anyway um and then across all users right so when you kind of like look at it like that it just becomes a basically near zero chance of something like that happening even if it is technically possible to happen so this again is another reason why d5 has such a massive leg up over tried fire and c5 but there are some drawbacks here obviously the drawback is is that this only this is only kind of like possible because of that over collateralization or just the clarization aspect anyway for let's let's use a real world example here if you wanted to buy a house you take out a mortgage a home loan right you have to borrow money from a

bank usually or you know some other financial institution usually a bank to do that you're not collateralizing it with anything most like especially if kind of like you don't have an existing house you're not collateralizing with equity if you're a first-time buyer you just want a home loan what you're collateralizing it with is your reputation who you are your identity obviously you can't do that on chain right now there are solutions that are going to be coming for that but it's not an over collateralized or even really a collateralized kind of loan what it is is basically you're putting a small deposit down and then you're taking the rest out as kind of small deposit on the house and which i mean is not really kind of like collateral right and then you're taking a loan and then you're buying the house and then

the house becomes the collateral that backs that's uh that loan that you've taken out but through that process like there's there's humans all the way there's middlemen everywhere there's there's laws and regulations and everything in there and it gets it gets very murky like the bank has to go through the legal system to take your house from from you right as collateral if if you fail to kind of like pay the mortgage back so it's it's different in that sense is that like you don't have to over collateralize for a home loan for example whereas within d5 i don't think any protocol except maybe something like a maple finance and a gold finch i think there's only two or three of them and they're not real they don't really work the same way as rv and compound maker do that will let you borrow without putting

up you know a cardone especially like you have to over collateralize as well and you have to overcollateralize usually by a lot so the capital efficiency just isn't really there compared to the traditional system but you do get all those other benefits of course now hopefully in the future when we have more of these solutions online like decentralized identity and we have ways to lend capital out to you know just people based on their reputation and we can have relative certainty that they'll pay it back or if they don't pay it back there's a way to kind of like claw back those funds we'll see how that plays out but i think the fact that these things have to be over-claralized before before people can kind of like borrow from them that is the most powerful thing here and that obviously is not scalable to the

world it is not a credit system it like it doesn't really give anyone any kind of like credit or anything like that so what they do give is just the ability to collateralize and borrow against a leveraged position essentially so leverage your existing assets to borrow against it whereas the the kind of the definition of credit is is usually that you're given it based on like i don't know a credit score which is based on your identity and reputation right rather than based on something like as a collateral but obviously in the case of a home loan the house becomes the collateral that backs it up but as i said it's a different situation it's not the same situation as having to put up the collateral first before you can borrow anything in this instance you borrow something you buy something with it and then that becomes the collateral

right so it's basically like a leveraged position just with uh with the fact that you don't have to put up collateral first to do it you just the bank will just give you the money based on i guess obviously like your your um kind of my credit score and your employment status and kind of like things like that and then and the rate will kind of like depend on various factors too so uh yeah i mean that's kind of like the differences there now hopefully i did a good explanation i had i um i explained that correctly and properly uh because it is kind of like getting into a bit of a murky territory there uh with kind of like complexities between the two but i thought this tweet was good from andrew here i kind of just explained it very well i think in terms

of the fact that celsius is just forced to pay this back like there's no negotiations here whereas with their human counterparts who they owe money to they can basically just put their lawyers in front of them and be like talk to our lawyers uh you know you'll get your money when you get your money and they just keep delaying delaying delaying whereas with d5 with these protocols the lawyers can't do like no one can do it's it's like the protocols are telling celsius essentially you pay back your debt or we're not giving you your collateral back that's it there's no there's no negotiation right which i think is pretty cool but anyway moving on from that i think i spent a bit too long on that one there um so an interesting tweet from paulina that i think maybe a lot of people will disagree with but

basically paulina said uh he they quote by saying rollups pay most of their transaction fees to l1 and rollups are bearish for l1 are both false application layer accrues most value execution layout some value l1 token has money used across execution and app layers a crew sum data availability layout are very little um and then they continue with kind of like some follow-up tweets here but also uh i think uh paulina said application layer not application token accrues the value some people got confused over that anyway i want to spend a few minutes here breaking this down so application layer accruing the value not the token itself means that kind of like obviously the applications accruing value in terms of like tvl for example

or users or or fear from you to them doesn't mean it accrues to the token but it still accrues to the application itself right there is value there like we've seen that obviously tbl is a very popular metric if not you know very flawed still very popular uh and it's used by a variety of people the execution layers within the ethereum context are layer twos right they're just like optimism arbitrary uh uh you know the zkvm stuff like that they're kind of like the execution layers uh ethereum layer one is he's technically an execution layer as well but long term we expect it to just be the settlement layout for all these other execution layers of course through the modular roadmap and then paulina says you know l1 token has money used across execution and app players accrues

some value so i actually think that this that's the sum value here should be like most value i actually think that l1 tokens generally most of them if not all of them i pretty much think all of them will accrue only accrue value long term if they both become a money and a store of value now there's a lot of different things that feed into that and there's a lot of different things that can make something a money or a historic value just because something is used for payments doesn't really make it something that's going to accrue value yes okay it's a money but there's a difference between kind of like money as a kind of like a payments thing and moneyness and kind of like uh something like the us dollar right the us doll doesn't gain value over time it loses value against

a lot of other things over time but it is the best money in the world like it it loses less value than all the other fiat currencies especially in times like like now where it's rallying against others uh because of kind of like global macro uh consequences so there's different kind of like definitions and different kind of like views there and there's the story value thing which is pretty self-explanatory right you you hold it basically you don't have to do anything with it you just hold it and you think and and believe that this asset will either appreciate it over time or hold its value over time again against some other currency get some other thing usually fiat currencies so for example people say you know gold is a good story of value because it both appreciates and holds its value and holds a stable value over time

against the us dollar and some people say well gold hasn't really increased in value for a long time now and that's true but it still can be considered a decent story of value because it hasn't lost uh its value relative to the us dollar as much as other things right um so it kind of like holds its uh sorry it hasn't kind of like um uh yeah no no i think i said that right and then it kind of like holds its value there so it's all about purchasing power as i've discussed before and how different things hold value against each other so that could be you know something that becomes a story of value and i think the only two stores of value really in crypto right now are btc and eth i think btc is a weak story value to be honest i

actually think its narrative around story value is is dying um and i've discussed this before so i won't rehash it here um i think ethers are very very powerful money within the crypto ecosystem right now it's used as obviously as money within the nft ecosystem it's used um it's monetary properties uh gives it very good collateral properties and it's used within d5 it's obviously used as a kind of like money s i guess like a money bond sov hybrid with staking right and then obviously we have 1559 burning it as well which kind of like adds to its deflationary properties which adds to its lower value properties as well so those all come together to i think accrue most of the value to

to the layout one token and and for ethereum it's obviously very very strong and then probably in our last point here about data availability recruit accruing very little um very little value now i think the reason that this is actually true and i agree with this is because of the fact that data availability or data layers they're going to be very very abundant right they're going to grow faster than everything else they're going to go faster than execution layers they're going to grow faster than sentiment layers they're going to grow faster than everything simply because data uh is abundant hard drive solid state drop like all that that kind of like space is abundant but at the same time it's more about kind of like where those data availability layers are like for example ethereum with dang sharding that's an ethereum data availability layer but

then you have polygonal veil you have celestia you have data layout there's a kind of like standalone data availability layers but still they're not going to be able to accrue that much value because their growth in terms of capacity is probably going to end up outpacing the demand at least for the foreseeable future and if not just for the foreseeable future maybe indefinitely we don't know yet and there are disagreements here between people i've spoken to about this but still like a standalone data availability layer logically really shouldn't accrue that much value to its native token um because of the fact that there's just there's so much space abundant the fear of venue would be very very low uh they're the kind of like the the token itself would not really take on any

monetary moneyness properties or sov properties because the the layer is not being used as a kind of like a settlement layer it's not being used as as kind of like an execution layer or anything like that it's being used purely for data so this is just the pure data layers whereas ethereum layer one is kind of like going to be a hybrid but it's got a data availability layer but it also acts as a very very strong settlement layer with the native token eth being used in staking for all that kind of like settlement security and things like that as well so that plays into into that there and i actually replied to paulina you know i said i don't think people understand that most of the value comes from moneyness uses sov fear of renew on the l1 is an added bonus now obviously i've been very very

bullish and still remain bullish on eip1559 and burning of eth but if that existed in a vacuum if if eth didn't have monetary properties if it didn't have sov if none of that if eth uh um was just being burnt and that's all we had to drive value to eighth aid would be worth way less than what it is today just based on that so when you kind of like look at it that way i think it's just a it's a bonus it's a very very good bonus very very strong bonus especially over the long term but it is not the main thing that drives value to l1 tokens i truly believe the main thing is that moneyness and story value which comes from a lot of the utility built around these things people say oh story value doesn't have to have utility it's like no it doesn't have to

but it's better that it does right it adds more value to the actual thing that adds more value to the asset so why not give it as much utility as possible and i can't think of any other asset in crypto that has as much utility as eth does there is not i don't believe there is any i don't believe there is any that even come close to its size in terms of liquidity um and market cap and all that sorts of stuff so taking all that together i do agree with paulina that's uh well i mean i think it's like a half agree i i i kind of like i would say that the r1 token accrues most of most of the value not just some um but i do agree with the kind of like broader points here and i think that people often get the wrong idea about

these sorts of things because they're not really used to thinking in monetary or moneyness and story value terms and then they're kind of like probably definition of story of value is probably not the right one it's probably come from like the bitcoiner camp which and i don't think there is any like right way to think about it but the way i simply think about it is okay are people holding this asset with a belief that it is a it is going to kind of like protect their capital and not just protect their capital in terms of uh uh be able to make them more money and and appreciate over time but also just be able to not lose them purchasing power because obviously over the last two years i guess or one to two years there's been high inflation in fiat currencies which

means purchasing power is going down for these things so you obviously don't want to be holding cash for too long but where else do you go like right now it's actually quite hard like you don't want to be holding cash for too long because there's a lot of inflation but also risk on assets which is pretty much everything um i like pretty much all assets at this point are going down right um so you don't want to be in them either so cash is like the least worst position to be right now but that's going to change eventually it's not always going to be like that so if you're playing defensively you're thinking okay where do i park my capital a lot of people are parking at eighth you know there are still obviously people parking in btc some people are parking it um other kind of like cryptos or people

still buying stocks you know for every seller there's a buyer guys like it's not like any of this stuff goes to zero it's not luna i mean you know luna went to zero but like you know the most of it doesn't actually go to zero so from that perspective i think that that drives most of the value to the l1 tokens and that's why btc and ether so far ahead of every other l1 token uh because of the fact that those the moneyness and sov properties are so powerful and as i said i think btc is actually losing those properties over time i think eth is gaining more of those properties so that's why it's the number one one of the top reasons why i expect the flipping to happen eventually because i don't see a path where btc continues to grow its moneyness and sov

whereas i very clearly see the path for eat especially with the merge approaching that's a huge catalyst obviously right but the merging of vacuum as well doesn't really do anything it exists alongside everything else within ethereum that drives the value here but anyway i'm going to leave that at that well i'm already at 23 minutes i'm going gonna get through the rest of these so uh superfiz uh put out a tweet where he said you think staking is hard it's not you could lose all of your eighth you won't you need powerful hardware you don't it requires constant maintenance it doesn't only professionals should do it this is flat wrong staking on ethereum is meant for home users we didn't spend so long developing a bleeding edge proof of stake protocol and probably the most decentralized people of state protocol in the

ecosystem to let it be dominated by professionals and not cater to home users it was literally built around catering to home users that's why the other the kind of like um beacon chain is able to handle so many validators obviously the 32 requirement is not something that i guess like is accessible to a lot of people even at today's prices but there is a lot of other accessible ways to stake especially with things like rocketpool and other such services um but in terms of like the hardware and the software and just running it is it's relatively straightforward the biggest barrier to entry is probably that 32 requirement if you wanted to be a solo staker now there is actually a kind of like difference

here between home stakers and solo stakers you can be a home staker without being a solo staker because you can stick with something like rocker pool so you don't have to be have your 32 or whatever you can go steak with rockapool and still run the software and still run the nodes on your own hardware um so there are kind of like ways around and there will be more in the future hopefully as well but yeah i thought this was a just a great tweet from super fears and he also linked to a bunch of different kind of like links very like lots of good resources here if you're interested in staking on your own especially whether at home or at home as a solo staker you should definitely check all of this out i'll link it in the youtube description for you to do so

um all right next thing just here from superfoods as well was kind of like just some dates around the merge stuff obviously everyone asking when merge robston merged june 8. sapoly emerged july 6th both mergers were successful but had some human introduced config issues that were solved quickly girly isn't scheduled but may be scheduled during the july 14 call there's the date that's the consensus layer call date so july 14 mainnet merge will follow shortly after girly all right so let's let's kind of like since we're since we've got a date now july 14 goalie ttd date gets announced let's let's say that happens right it gets announced for early august because i mean [Music] early august right all goes smoothly well then i think mid mid to late september is locked in 100

at that point um if all goes smoothly on girly anyway i'm not going to keep speculating that i did talk about this just before but that's the that's the call to look out for if it doesn't get discussed on that call then obviously it'll be on the next thursday's all called dev's call then definitely it'll probably be later september then but we'll have to see have to see how this goes all right so this there was this interesting uh kind of like table here from this account on twitter res and they said it's been a while since the last time i had a look at on chain volume um so basically the key takeaways from this table is that only eth or ethereum and bsc do 50 plus million dollars in volume whales prefer to use arbitrary instead of optimism both clearly ahead of metis

harmony moonbeam and evm os seem dead not all avm chains are created equal guys like these are all avm chains here not all of them are created equal most of them are literal like useless trash like i'm just gonna not sugarcoat it here ethereum obviously the most dominant bsc has surprised a lot of people i've gone over this before it has a very strong presence in asia polygon third shouldn't really surprise anyone here arbitrary optimism in fourth and fifth place there and then avalanche kronos phantom i guess like traveling closely behind but phantom everyone talked about that last year it's pretty much dead now uh chronos i don't hear anyone talking about this uh i again i kind of like um i i don't

think that's kind of like long lasting avalanche has lost a lot of steam right it's already been overtaken by layer 2s on ethereum even the layer 2's came later arbitrary doesn't even have a token yet uh optimism uh obviously has a token but hasn't really used it yet and you can see like number of transactions not just volume as well so arbitrary sorry uh optimism has the same amount of kind of like transactions as as avalanche uh arbitrary has less but i think uh that right wales prefer to use um arbitrary as as kind of like res says here and then average transactions in dollars you can see uh like kind of like what people prefer to use and what i find hilarious about this is that avalanche was kind of like going on about the fact that we got super cheap fees we cater to like the people with

like hardly any money or blah blah i mean the the average transaction on avalanche in dollars is 377 dollars like that is like i mean it's not huge but like i think when kind of looking at looking at these sorts of things i guess it's good to have really really cheap fees but like if you're just an evm chain it's not really going to do anything because the the later two avm chains are going to just obliterate these things like i i'm so bearish on avalanche like the i'm very very bearish on the c chain on avalanche and the subnets just don't make any sense to me like ethereum and l2 is just going to absolutely destroy them and it already pretty much has right and all these other ones like they're just all garbage like why why do they like i don't want to bash them too

much here but like that doesn't make any sense that these things exist especially like if there are layer two on ethereum even even a layer torn ethereum if like there aren't gonna be that many successful ones there's gonna be a handful of them so like when you look at it like that it just boggles the mind that so many of these things uh kind of like are still around they're still kicking in they're still they're still supporters but then when you really dive deep into it you can kind of like guess why it's because of the tokens right anyway i don't want to spend too long bashing there but i thought this was an interesting table uh to just kind of like look at all right so another interesting set of stats here is from michael who uh works at uh optimism labs here so this is

basically a dune analytics dashboard that kind of shows a bunch of optimism uh related transaction fees and i think i've gone through this one before on the refuel but just like if you really are interested in looking at how optimism is handling fees at both l2 and l1 this dashboard is for you i'll link it in youtube description below and you can go check that out all right so sudo amm is now live so pseudo ammo is a new marketplace protocol that changes the way we think about nft liquidity and trading it is highly flexible gas efficient and fully on chain so another nft marketplace another decentralized nft marketplace and it is on chain so starting from when it went live users can create pools that gradually buy or

sell nfts along price curves provide liquidity to pools that buy and sell nfts to earn fees directly list their nfts at fixed prices lps also have full control over their pool's pricing and can adjust at any time so basically it's an nft uh trading protocol that does things a bit differently it's not like your open c or looks rare it is using a kind of like curve here to set the prices of our kind of like nfts and to get people bidding and and and sorry buying and selling on these sorts of things with either a linear curve or exponential curve you can see in this screenshot all the options that you have here to i guess like change the way we trade nfts i've been following this protocol for a little while now uh it's been the kind of like works for a little while i think

it's super interesting i want to dive deeper into it i didn't have a chance over the weekend to dive too deep into it but you should definitely check it out and see what you like about it what you don't like about it and also join the discord if you're interested in it i think it's really cool that we're seeing more experiments within the nft marketplace ecosystem because i'm sick of seeing the same thing just forked and over and over and everything like that like it's fine but at the same time i would love to see more experimentation as i normally do in these in these kind of like things so great to see that this is live you can go check it out i'll link it in the description all right so the protocol guild has a proposal to the nounsdale community uh they'll be going live in two days for

voting so if you are part of nouns and you want or guess like nouns dao or kind of like the nouns ecosystem you can go and vote on this in i think two days from today yeah two days from today so this is the protocol uh for sorry this is a proposal for down to send funds to protocol guild and i've talked about the protocol guild on the refill before so i won't rehash that here but you can read the proposal here if you want i'll link in the youtube description below it's basically um wanting to raise i guess how much do they want to raise yeah they want to get 500 eighth no this is not a raise i want to get like a 500 eighth donation which is two percent of the nouns down treasury uh into protocol guild here i think this shouldn't be contentious or

shouldn't be something that's hard to get through i'm pretty much thinking that this is going to go through without any fanfare like i i feel like uh nouns now uh pretty much closely aligns with public goods i've spoken to someone from there actually a little while ago i know a few of the nouns kind of like whales and they're definitely like public goods maximum list and they're definitely all for this i think so i think this should pass but uh yeah really really cool to see that uh that um protocol guild is probably gonna get more funding here all right so last up here uh joseph from the ethereum foundation put to put out a uh kind of tweet saying the theater foundation is looking for an ambitious software developer who can help build and develop an interactive website working with designers and content creators to create a new

a unique experience so you can see the role here at the front end developer at the ethereum foundation just wanted to highlight this for any of you front end devs out there that want to work in crypto uh or want to obviously work in the ethereum ecosystem ethereum foundation is one of the best places you can probably work uh it's the closest you'll get to a lot of ethereum related stuff so definitely go check this out if that fits uh into what you want to do i'll link it in the youtube description below but i've gone over time so that's going to be it for today thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to newsletter join the discord channel and i'll catch you all tomorrow thanks everyone