Coinbase IPO in 2 weeks, Gitcoin Grants Retro & more - The Daily Gwei Refuel #91 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily way refuel where i recap the latest news in the ethereum ecosystem i'm your host anthony sosano and today's the 2nd of april 2021 all right everyone let's get right into it so you know we are back over 2 000 on etr always nice to see you know i mean as our time of recording we're kind of flirting with it right now you know hovering around the 2000 mark which is which is fun to see um but you know if we kind of take a look at the chart here and kind of look back to what we were at basically at the end of february early march you know there was that big crash down to like thirteen hundred dollars so essentially like a month later we're just you know we're back at kind of 2k and you know the all-time

high right now is about right it's even higher than that i think um higher than the 2040 mark there or am i wrong i saw 2100 somewhere maybe it was on a different kind of exchange here um but yeah i mean 2040 seems like the all-time high on on coinbase at least uh so yeah i guess uh that's that's what we're kind of aiming for right now i mean it kind of looks like we're gonna kind of break through that uh the momentum is there i've seen a lot of positivity around eth on on kind of twitter and stuff like that which is really cool to see um but yeah just a i guess like a really great uh kind of thing to see after you know i guess like the brutal kind of february uh sorry brutal march we had because you know you can see here we we kind of

recovered right and then we just went back down and we kind of like had this whole pattern play out in his head and shoulders pattern and then ethan was just like well nope and then just headed back up there so yeah awesome to see but i did want to kind of like mention about just what i said about the sentiment on twitter kind of shifting on ether i'm actually seeing people who i don't consider to be like you know very heavily involved with the ethereum ecosystem or anything like that they're starting to say things like they believe 8 is going to be a better story of value than btc now this always kind of happens when the price is going up people are shilling their bags and everything like that but i think you know saying something like that takes i guess obviously bags but it also takes kind of

like a bit of courage especially if you have like a following that may be like bitcoin heavy or whatever that might be thinking wow you're crazy for saying that because you know to bitcoin is that is crazy but i don't think it's crazy you know i've explained many times why i think um heath is a better story of value and he's better money and he's just better at being you know bitcoin than bitcoin is uh and that's got a lot to do with the fact that we have eip1559 coming which is going to lead to the fee burn and then once the merger happens we're gonna have um you know proof of stake issuance which is gonna be kind of perpetual issuance of less than one percent a year and you know that would secure the chain in perpetuity and then we have the fee

burn to basically get to uh you know you you all would have seen the ultrasound money meme about like having a deflationary eath so from that point of view i believe eth you know and and that's not even to kind of like talk about all eats kind of other utility within the network right it uses trustless collateral which is to pay gas fees which uses money all that sort of stuff that that's all additive so from that point of view ether not only has a better monetary policy than bitcoin and i'll straight up say that i think it has i mean once erp 1559 goes in and once the merger happens its monetary policy will be better than bitcoins so not only does it have that but it has more utility as an asset as well so i i do fundamentally believe that we're going to see eth be more valuable

than bitcoin one day that might take another few years you know just because bitcoin has a lot of momentum behind it still a lot of people kind of like don't understand you know how what is an as an asset and everything like that but kind of like that's what opportunity you know you all of you have right all of you kind of like spending time in the ecosystem now have the opportunity to kind of like i guess we extract this alpha before other people do um and you know i think from that point of view it's not obviously investment advice but this is kind of like informed my whole thesis around eighth like the utility aspect of it and you know you see a lot of ethereum's talking about this saying you know bitcoin is good for what it is and does have some utility right the

utility is basically that people buy it and consider it a store of value because the monetary policies is is sound to them which sound to them basically means it's unchanging you know it it basically has a cap and you know deflate it sorry it hards every four years and that's fine you know i can totally understand why people see the value in that but for for me you know i see more value in in through its utility you know and it also has like better properties than bitcoin at that than what bitcoin does for itself so from that point of view you know still stacking eth right um i still kind of like loading up um making sure that i replenish uh the things that i spend on gas that's the most annoying thing is that there's a lot of eth that gets spent on

gas and you have to kind of replenish your eth um you know so i try to do that every few days um but you know i do hope that we have some more adoption on meta transactions here i would love to be able to pay the gas fees and like a stable coin that would still be paid an eighth ultimately but so i wouldn't have to give up my eighth you know the way it works is basically the stable coin would make a a kind of like a trade from like a pool of capital uh for the eth and then pay the kind of like miners maybe that's that's not economical right now with the high gas fees and things like that um but yeah i mean or giving up eight is always a bit uh you know a bit hard to kind of digest sometimes

but anyway enough shilling about eighth good to see it you know i guess like almost back at all-time high maybe by the time you watch this we'll be at all-time high uh but 2 000 was it was a pretty cool level to break again we hadn't seen this prize since uh the 20th of february around that and we didn't last there for long right and then since then we didn't see it ever because that was the new all-time high so yeah really really cool to see that uh i'm i'm glad to see that eth recover i mean look look at this it basically took us like a month and a half to get back here so not that long uh but obviously it feels like an eternity because we're all stuck to our screens and things like that uh but yeah kudos uh to to everyone kind

of like that that held through this i think you know you've obviously been rewarded for this i know a lot of people like panic and especially the newer investors and they sell into this like okay is the bull market over and things like that um and i totally get that i used to do that when i was a when i was a noob as well you know um but i think you know just stacking and just like riding the volatility is the best way to kind of play this sort of stuff all right interesting announcement from dharma here today so they kind of like qualify this announcement saying this is not an april fool's joke but they've introduced something called gaslight which is basically a way that they've come up with for their users to automatically save up to 80 on network fees when they deposit uh

kind of like funds into yield protocols from your bank account so basically the way this works is that they've got a pool of capital that they've set up called the trade reserve and then when you deposit funds through your bank account into dharma now to buy to you know to buy usdc or something like that they take that usdc from the trade reserve and deposit it into yearn right um and and essentially like uh give you the kind of yield uh but but your funds are essentially you know because you know it's a custodial thing here um where they're locked for five days and then you get the funds kind of like your own wallet after five days uh once the trade reserve is kind of replenished here so essentially this is like i guess a a bridge or like a proxy between kind of like you the user and

the yield farm uh kind of like protocol here so that's why it's not not non-custodial you know for the for the first five days here but that's how they achieve this kind of 80 reduction in gas fees because they're kind of doing this this kind of i guess trade reserve thing where they're you know pulling user funds together and then depositing them so they only have to pay kind of like that one gas fee so really really cool i mean i wrote more about how different teams and different protocols are kind of optimizing themselves uh in on layer one to use less gas i i wrote more about that in the newsletter today so you can go check that out um but yeah i mean i guess like there's a i mean i can give a tldr of the of the newsletter here basically the way you reduce gas fees on

ethereum i mean at least one of the ways and one of the best ways is to pull the capital so this is what dharma's doing here you know yearn does this themselves so if you think about yearn as being like a yield farming protocol with volts the volts are essentially just wrappers around users so what ends up happening is that you know a thousand users might donate not donate might put uh you know money into a vault right and to earn yield but that vault will only ever have to pay one gas fee for itself whereas you know to do different on-chain actions whereas if a thousand users wanted to do different on-chain actions that's a thousand gas fees that have to be paid right each user has to pay their own gas fee so essentially this pulled capital and this kind of like a wrapper around users

is the you know the best way to kind of save gas here there's also other ways like developers optimizing their code to use less gas and things like that um and you know coming up with innovative ways to i guess like lower the gas fees across the board here but yeah cool cool to say dharma you know kind of do this i think it's very important um i guess for the maybe short to medium term because i do believe as i've said before that we're all gonna end up on layer two and layer one's just gonna be a sentiment layer so it won't really matter at that point uh for end users but still uh great to see kind of like these uh these short-term solutions uh coming out here so hermes network uh launched i think it was last week they launched on main net

and they're they're going growing quite steadily right now they have uh 1158 total wallets created since then which you know may seem like a small number and it is but to me you know people might think this is bearish and i'm like i like to think of myself like how is this bearish right the fact that we've only got like you know at most probably i guess like using d5 at this point there's probably been like maybe 100 200 000 kind of like uh people that have interacted with d5 or maybe 300 000 or something like that um but it's definitely not not near a million i don't think um so if you think about it like that it means that like there's still like tens of millions of people left to come in right so from that point of view i don't see how like this would be bearish it's

actually really bullish um but you know hermes i guess like is is completely unknown like i'm sure a lot of you may weren't even aware of this until i mentioned it on the refuel i didn't actually know about them until a few weeks ago or at least maybe a couple of months ago when they first kind of announced themselves and they kind of came out of nowhere um so yeah i mean i think it's just really bullish because the growth prospects are there and just to refresh what hermes is it's basically a layer 2 scalability solution similar to zk sync it's basically focused on payments so that obviously is going to get a lot more traction here you know over time especially and and more adoption so i consider this to be bullish but that's not me kind of saying go buy their token they do have a token

i don't i don't own it um and you know that's not me saying go kind of like ape into it so to speak but that's just me saying that you know these numbers may look kind of bearish on the surface but the thing is is that we know how fast this stuff can grow i mean i've mentioned before how just last year in in may unit swap was only doing 10 million dollars of 24 hour volume right and now they're doing billions of 20 for our volume on some days and you know some days they're doing more volume than coinbase so this stuff has like growth prospects that are unseen in any other kind of technologies because of the fact that it's global right it's accessible to to anyone and things like that and i think obviously the the high gas phase is put kind of like a i guess a cap on on how

many new users we can port in but as i said you know in my newsletter and yesterday about um or maybe the other day about kind of like how layer 2 is going to usher in a new wave of innovation it's also going to usher in a new wave of like users because there'll just be more users that can they can use ethereum now so yeah i expect to see this blow up you know over time on homies here i don't expect it to stay like at you know the thousand thousand mark for very long so yeah kudos uh to them i think they're doing a really great job uh i just i would love to see more more kind of adoption here over the over the coming months so coinbase uh basically announced earlier uh yesterday now earlier today that uh their s1 registration with the sec was effective

and they expect their ipo to happen on april 14th 2021 which is two weeks away right and this is why i think i mean this is a major reason why i think april is going to be a big month leading up to april 14th we are probably going to see a lot of the crypto market trend up because coinbase as in the coinbase ipo as an event right for i guess like the wider kind of outside crypto space is absolutely massive coinbase is going to open at 100 billion plus market cap as far as i know they're the first publicly traded exchange um at least the first publicly traded exchange in uh the us right um and and they're going to make a lot of noise i think you know if they actually end up

being worth more than some banks that's like a huge narrative there saying you know coinbase is this hot fintech company but it's not just fintech right it's crypto and it's kind of worth more than a bank and then i i don't know i just think that not only leading up to it where we see like a nice kind of trending up across the markets but also after it we're going to see like a a kind of pretty big inflow of new users i suspect as well and i'm very curious to see if we see if we see kind of like a repricing in the ecosystem and i've talked about this before how i think that you know if coinbase can be worth a hundred billion dollars plus uh fully diluted market cap then why can't uni swap right because coinbase almost all of their revenue comes from trading fees

yes they have other businesses they have their custody kind of thing they have they probably have some market maker stuff they they have some venture investments that they make but the majority of their revenue comes from trading fees so same with uni swap right pretty much all of unisop's kind of revenue comes from trading fees now of course unisop doesn't uh pay out those those fees to uh to token holders yet but that doesn't really matter um you know i'm not sure if coinbase is going to be paying out uh kind of like dividends to their to their shareholders here um to people that kind of like own their own the stock but i think the same kind of thing applies here and that's not to say that you know unique top is definitely going to a 100 billion dollar valuation but i do think we're going to see a kind

of like repricing in the amm space you know or the general kind of exchange space on ethereum and that will kind of like float into other d5 kind of protocols as well like non-exchange default protocols because the world is just going to wake up to this they're going to be like you know why is this coinbase company that is really big right and still has growth prospects but is being disrupted by d5 why are they going to be worth like 100 billion plus and d5 protocols can't be so i fully expect that to happen uh you know uh in in the coming months it you know it's probably not going to happen all at once or anything like that but we've already seen unisop get up to like a 40 billion dollar i think fully diluted valuation so another kind of like you know a bit more than a 2x

from here i would put it at 100 billion so not too far fetched i don't think so i saw this article in on cnbc today and i was very late to this you know once i posted this tweet i ended up seeing this all over all of it all over twitter but essentially uh mark cuban uh was in it was featured in this article and he said he owns a lot of ethereum because well i mean his quote was i own a lot of ethereum because i think it's the closest to a true currency so not only is mark cuban here saying that he thinks that ethies money in so many words right it was also the number one trending article on cnbc as you can see here on the right hand side of my screenshot um and like the article itself was obviously read by

a ton of people now i think this coupled with like the visa news coupled with you know more and more positive news coming out for eth it's not surprising to see eth kind of i guess uh going up in price right at the end of the day this kind of stuff just validates eth in the mainstream's eyes i mean i've said it before but mark cuban is an incredibly popular kind of celebrity in the u.s very u.s centric um i don't really see much people outside of the us kind of like no i mean they know about him but like it's not like they kind of like follow him too closely but obviously very popular in the u.s because of shark tank and because of a lot of the stuff that he's done over the years or over the decades essentially billionaire investor right great

narrative behind him so for him to be so involved with the ethereum ecosystem and and just basically saying he owns a lot of ethereum is enough for people that don't own any crypto to basically buy eth that's as simple as that there are people that do this there are lots of people that look for signals um you know from people that they follow to to buy into things so i think that's what's going to happen here definitely and i think that's going to lead to some very nice uh you know bullish action for eth again not investment advice but but man it's hard not to be bullish on eighth right now but yeah i think uh and i'm really glad that the word ethereum was in the the title of this right because you remember the other day when the visa news came out the mainstream media for some reason

just like avoided saying ethereum they even went as far as saying like bitcoin partner i was like what right um and the fact that ethereum is just right smack bang in in the title there i mean the times are changing like everyone the the the the days of like ethereum being relatively unknown and being like distance second to bitcoin are coming to an end i do think that you know coupled i mean d5 nfts right like the dow space the creator economy in in kind of like the social token space all this sort of stuff these celebrities buying eth and and you know public companies buying eth man i just i just think that ethereum is entering a new age here it is coming out of its basically you know startup phase which i do believe it

was still a startup up until recently into like being like a an a a pretty big powerhouse here not only in how much kind of like revenue it generates itself right which will soon be going to eath holders with the one five five nine burn but also with how much economic activity it kind of creates for all the other kind of stuff on ethereum like the d5 tokens and things like that which you know ultimately flows back to eath especially when we have fee burning because every transaction on the network will have to burn a bit of eth which is incredibly bullish and the more activity on each the more our kind of fees that are burned and the more value that inevitably flows to eth so yeah we're entering a new age friends i i really do believe that and i have i mean i'm always bullish but like

these days i'm i'm just like constantly waking up and being like holy crap what happened today right how where's etherium kind of like today and as i said the sentiment on twitter is changing it's much more positive if people are actually considering eth as a contender to bitcoin's throne which is something that i would never have seen some people say and and you know i list i actually listened to the bankless podcast with hazu the other day on eip1559 and hazu is you know started in bitcoin made his way to ethereum over the years and has been very involved with one five five nine but he basically said that eth with one five five nine and pause issuance essentially kind of rivals bitcoin's monetary policy so for him someone who spent like so

much time in the bitcoin ecosystem and don't done so much there someone who's not a quote-unquote ethereum maximalist or you know a very hardcore ethereum someone's who i i consider relatively balanced but but very intelligent for him to say that is a huge kind of like i guess vote of confidence i think of what you know and a huge kind of like um i guess a stamp of approval on the stuff that you know a lot of us have been saying over the years you know a lot of us in the ethereum ecosystem have been saying this since was like a hundred bucks right uh and for you know and now it is two thousand dollars and people are finally clueing into this so yeah i think it's really really positive and i i find it hard not to be not to be very bullish right now

so there was a eighth one to e2 merge implementers call that happened last night um that was basically a call between a bunch of different eth1 and e2 developers discussing the eth1 to e3 merge another mine had a tweet here that basically says it seems like the devs can see a clear road to the multi-client eth1 to eth2 devnet which would be used during the rayonism and 8th global scaling hackathon this month now i talked about what rayonism was a couple of days ago it's basically a project to essentially do an eth one to eth2 uh test net uh sorry merge test net um you know from end to end based on the spec that would be used for for the mainnet merge this is really like happening guys like this is so close now i mean

i keep saying that i i wouldn't expect it to come by the end of this year more so like q1 next year but that's still incredibly bullish like we could you know we're going to have 1559 in july and then once we have the merger by the you know in q1 next year most likely that's it right those are like the biggest upgrades to ethereum and they're not upgrades that are just based on narratives right and they're not kind of like upgrades that are based on sell the news events where everyone's like okay well this happened now i'm just going to sell on my eth there are upgrades that basically yeah add value to eighth directly which is just incredible we get off proof of work you know stakers are now kind of like the people involved in the ecosystem you know the stake is kind of like any

of the fees that they earn out on top of like the um the fee burn uh i i do think they're going to restake that right and all the kind of rewards or at least most of the rewards they earn i'm probably going to be restaked as well uh so basically a lot of the east selling pressure evaporates from from miners um and a lot of the you know with one five five nine obviously a lot of the the the kind of like fee revenue goes back to each holders as well so yeah incredibly bullish on this merge happening sooner than people think it will some people still think it's like you know 18 months away or something or like 24 months away i i definitely don't think so i think that the eth1 and eth2 teams are running like well-oiled machines right now and that's due in large part to the

coordinators playing a huge role here like tim baiko and danny ryan on either side of the fence but also you know i think we have this very very clear vision with where we want kind of like ethereum to go uh everyone kind of agrees with it everyone sees the vision where the proof of stake chain uh that we have right now is the consensus layer and then the eth1 chain once it merges in is the kind of application layer so we'll have proof of stake validating the transactions happening on that eighth one chain and that'll become like one whole ethereum and then we'll have sharding you know sometime hopefully next year which kind of just like supercharges the layer two ecosystem that's building on top of all of this stuff so super super excited to see raeannism kind of go live as i said the other day i am kind

of i'm judging this scaling uh hackathon uh uh sorry the scaling ethereum hackathon that's happening with from 8th global here so very excited to follow along with this project as they kind of build it out uh it's it's getting close it's getting very very close so the ethereum cat earth cat herders that rather put out this um kind of like post where they've got like an ethereum berlin upgrade countdown community call happening on april 15 2021 which is tentative which is essentially when uh uh the the berlin upgrade will be going live so this is a live stream community call that will start 45 minutes before the estimated time that the fork goes through um so you know anyone can join this and you can kind of like watch it on on on youtube and things like that and

there's got like a bunch of resources about what berlin is here so if you're just if you're interested in kind of like i guess watching along or following along with this with a bunch of like-minded ethereum people this is the the place to do it so definitely go check this out so interesting tweet here from devon defy uh who spends a lot of time in the index co-op here uh the index co-op basically put out a proposal to create a synthetics uh debt pool mirror index here now what is this it's basically a way to mirror the debt that um or at least like the sus d debt on synthetic so i'll explain how this works basically when you stake your snx tokens on synthetics to earn rewards you mint us you know susd which is a synthetic asset now

with that sus there you can either trade it for other synthetic assets like s eth or s you know btc or things like that or you can keep it as susd and keep it in your wallet or you can go yield farm with it but the thing is if you keep it in one synthetic asset you're essentially exposed to the global debt pool now what this means is that as the global debt pool shifts around you know if eth goes up in price you can end up owing more susd because the the debt pool's weights have kind of like rebalanced underneath you so your debt actually grows now what this debt mirror uh kind of like pull tr aims to do is essentially dampen this kind of like uh volatility here and dampen and dampen this uh in a way where it kind of mirrors the depth pull

uh and essentially does the reverse of what the dead the the debt pull on synthetics does so if the debt pull on synthetics is rebalancing in in one way the the debt pull mirror on the index card will rebalance the other way so essentially a mirror right and what this does is it basically you know if your susd is in the depth mirror pool it essentially tracks um you know the opposite of what what what um synthetics is doing so that your debt doesn't really grow right or kind of like shrink you just basically stay flat that's the goal of it i know d hedge already has this in implemented as well and it's and it's been quite popular um but the index co-op wants to have a go at this too and kind of implement this here so yeah i i look forward to seeing this

kind of implemented because i think it's a big deal for synthetic stake is i think a lot of people maybe aren't even aware of the fact that the deadpool shifts from ships underneath them which essentially exposes them to this additional kind of like i wouldn't call maybe it's not a risk but it's more like the risk that you end up owing more you know kind of susd later down the line so charm uh kind of put their cube tokens live on mainnet yesterday now what these cube tokens are is that they're essentially essentially leveraged tokens so you can buy one of these for btc eth rv link uni or um iffy they say fyi here but i assume that's wi-fi um and get three times leverage so when you buy the eth token you're essentially buying a three times

leveraged eighth position now you may be familiar with this from the index cop they have the fly or the flexible leveraged index which does the same thing except it's a two x leverage position uh whereas charm is giving you 3x leverage here on you know on a bunch of these tokens here so yeah if that's something you're interested in doing you can go check it out and you know it's funny because this is like i guess like leverage on autopilot because the protocol handles kind of like the liquidation ratios and all that sort of stuff or the clarization ratios i should say sorry and the liquidation points and things like that but essentially if you're and this is an investment advice but if you're bullish on like eighth right like really bullish on eighth you say you think to yourself okay it's gonna double in like the next month for

example well it wouldn't it makes sense for you to kind of like increase your exposure by buying one of these leverage tokens right yes there's more risk yes there's like the biggest risk is that you get liquidated because the protocol doesn't handle the collateralization ratio correctly um or you kind of like magnify your losses because if you take on leverage you know you manufa magnify your gains but also kind of like can magnify your losses if you kind of like get liquidated and things like that but you know because these kind of things are managed automatically liquidation risk is you know ideally relatively low compared to if you're doing it on your own and stuff like that but anyway outside of that you know if you're really bullish and you think it's going to double you can leverage up three times here but these tokens are with the flexible

leverage index the fly from index card which does you a 2x and essentially get like two times or three times the exposure so if eighth goes double right it's essentially like you've got four x exposure from uh from from this sort of thing so yeah that's i mean again i wouldn't suggest doing this if you don't know what you're doing and you aren't aware of all the risks as i kind of mentioned the risks are that you know the protocol fails to kind of like keep a healthy collateral ratio you get liquidated or you magnify your losses because you didn't place the bet correctly in eighth for some reason just dumps 30 or something that can happen i mean even as you know what even the fact that we're near all-time high again here it doesn't matter we can dump thirty percent right i think it's a mistake a lot of people

make is that they get really really bullish over the short term and they think you know there's no way it can dump you i'm just going to leverage up and then what ends up happening is these people get liquidated in mass and we see those billion dollar liquidation figures come out because people just got too greedy and then we have to reset the cycle again where we have like that dump and then you know slightly we move back up and that's that's that's kind of like what attribute contributes a lot to this this volatility is the um the leverage because people just get too greedy right and you know um there's just a lot of retail investors who just aren't aware of the risks and they see kind of like eth going up really fast and they get foam rolled like i need to get more more kind of

like exposure to each so they'll leverage up and then you know uh the spot market will just like dump underneath them and they'll get liquidated and you know we kind of see those cascading liquidations sometimes so yeah definitely be aware of the risks don't become too overexposed to this sort of stuff maybe just go in some kind of like a small position to test it out to see how it all works uh but yeah definitely uh always be kind of aware of the risks here so get coin uh posted a bitcoin grants around nine governance brief which is basically a blog post going over uh round nine everything that happened there the stats on on i guess like the crowdfunding stats like the contributors and the matching and everything like that who who kind of like won each category

in terms of like the most amount of dollars matched here um i'm actually curious i haven't checked this yet but i'm curious to see if the daily way yes it is in the top ten uh and ether as well it's eight thousand fifth daily grade seven that's really really cool to see uh that's that's awesome i mean thanks again everyone for donating here but it's really cool that um you know both daily gray and ether made it into the top ten there so that that that kind of definitely one was my heart there um i'm curious to see what other ones kind of uh kind of measured up here so dow square got first for east asia grants for infra grants it was ethereum swarm and then git coin grants his second umbra which is a privacy protocol third uh nft grants pull-up came in

first that's awesome to see i mean a lot of you would know what pop is and how awesome they are uh and then dap tech grants ether drops came in first apy vision civil finance v fat tools things like this um yeah so cool to see like the leaderboards there then they went over kind of like a governance brief here about uh i guess like i think i think this talks about basically i haven't read through it myself yet but basically how they uh they've done governance for this round in terms of like i guess like how they manage like the payments the the quadratic funding uh kind of like making sure that it's done in a public goods kind of way where i saw you know you would have seen on twitter a few projects had tokens associated with them and they pulled out

of the matching because of that um and then if you scroll down here uh they go over the civil attacks that happened uh in in round nine um the impersonation that happened bribery and stuff like that um and and and non-ethereum related projects kind of like uh spinning up on here and all that sort of stuff and airdrop harvesting this is a big kind of theme of this uh of this skit coin round i think a lot of people donate it to projects simply because these projects don't have a token yet and i think they're going to get an airdrop and you know maybe they will get an airdrop because of donating you know to these projects pre-token so that was a big theme and there was a a bunch of like uh an overview of the fraud deterrence that happened in round nine here

um and then to kind of like finish off is like how they did the review and how they ratified all the results here so really lengthy post here i definitely recommend going and reading it to get the full overview but yeah i mean grants around nine was obviously the biggest grants around look at this look at the growth right that's grant's around eight with 4730 unique contributors grants round nine is uh i think it's like oh it's not showing me the exact figure here but it's over uh yeah it's over it's over twelve thousand so yeah basically uh almost triple i think from uh from from here which is which is just absolutely awesome to see i think we can keep going with that especially as you know i guess more people become aware of bitcoin we get more new users in here you know 80 of the people that donated

were using zk sync as well so using layer 2 there which is which is really really awesome to see as well so yeah thanks again everyone for donating to the delegate of course and ethub and also to do just donating to all the other projects in general as well it's a very very uh noble thing to do and you've funded a lot of projects for you know potentially a few months now depending on kind of like their burn rate uh but definitely really really cool to see all right everyone thank you again 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 next week thanks everyone