Daily Gwei merch, Hop DAO announced and more - The Daily Gwei Refuel #359 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delegate refuel worry cup the latest news new theorem ecosystem i'm your host anthony desano and today's the 6th of may 2022 all right everyone let's get into it so i have a special announcement today to make uh there is finally some daily gray merch happening so we have a hoodie and a t-shirt that is basically live right now you can click the links in the youtube description below to go purchase one uh this has been kind of like in the works for i guess like a few months now getting the designs done coordinating it all and i couldn't have done it on my own i definitely did not uh i had two people helping me with this uh they're both quite active in the discord channel coffee uh as some of you will know he's quite active in there and uh

cryptowife who some of you will know from twitter she does a lot of really great kind of like art and memes and things like that and she basically designed uh both the kind of like t-shirt and the hoodie here so you can see the hoodie's got kind of like a it comes in black it's got a really great design going on going on here if you scroll down you can see down the arm it has the delight with an eth logo and obviously the delegate logo on the chest here and then we have the t-shirt which is kind of like uh the same kind of like uh logo on the chest in white and then on the back it's got daily growth and eath logo on it now as i said you can head to the links in the youtube description to purchase this if you would like it comes in sizes from

extra small to 3xl so basically sizes to fit everyone you also will get the robot token distributed too as this drop is being done with meta factory um and that token basically i don't know how much it's worth right now but like uh that comes from kind of like buying the merch um from from the madam factory manufacturing shop not just the delegate merch but anything that they kind of like have there um and in typical daily way fashion uh pardon the pun all the proceeds uh that that come to me will be going to public goods so i'll be donating everything that that i kind of like get from this to public goods funding i haven't decided exactly where i'm going to donate it to yet like maybe it will it be 8th court dares will it be something else will it just be one

person will it be a group of people i haven't decided yet um you know i'll decide kind of like kind of at a later date there but yeah if you want to go purchase one definitely definitely do so i mean i can't wait to personally get mine and wear them on the refill and everything for you guys as i said it's the first time i've done delhi way merch and again just a massive thanks to coffee and crypto wife here without them this wouldn't have been possible so definitely go check this out links in the youtube description below all right so trent van epps uh my favorite kind of like uh guy who puts out so much updates around the kind of like the merge it's hard to keep up with him and i highlighted his kind of like image yesterday um the path to the merge

image he shared another thing today uh the merge a mega merge resource list that was created by mario haval tim biker and trent there now i think i don't know if i've kind of like uh highlighted this before or maybe i've i've seen something similar to this but basically this is just kind of like all the resources that you're going to need to learn about the merge keep up with the merge see what's going on with it all from kind of like uh first principles all the way to kind of like current updates today so if you haven't kind of like uh you know read a lot of this stuff yet you can you can kind of like head here head to these links read them all i mean this will keep you busy for a while like this is probably a few days worth at least of stuff to kind of

like go down and i mean the funny thing is every time you go into one of these links and then you kind of like read it and then you you'll be clicking on even more links and going even more rabbit holes it's just going to keep going so if you're going to go start down these rabbit holes and you want to avoid just having like a million chrome tabs open that you never get to i would kind of like take out a block of maybe a few hours to to learn about this um but at this point i'm sure a lot of you already know a lot about the merge i've talked about it for so long now uh that you guys probably know a lot but in general i kind of gloss over the more technical details of it because i i feel like it's

kind of like hard to get that across on a on a on a 30 minute show so if you're interested in more of that sort of stuff you can check out the technical specifications and all those sorts of things which are linked in this uh resource list and of course i'll link this in the youtube description below all right so hop protocol finally announced their dow and token today and now this has become a bit of a i guess you could say drama around how they've done their airdrop here and and kind of like everything around that but i wanted to kind of like focus on kind of like what they announced today and then i'll go into kind of like the airdrop and the token and all that sort of stuff so obviously they announced a dao in a very similar fashion to how

optimism announced that kind of like with their goals what they want to do how kind of like um the token fits into things how it's all going to work under the hood and they did a twitter thread kind of like describing this so uh you can see like you can go read this for yourself if you if you would like here and then they kind of like talk about the airdrop so airdrop details are right here like who the airdrops actually went to uh and i think you know if i add this up it's what's like eight percent or something like i like that or going um is it eight percent no i i think i'm doing my math thrive five point yeah it's about i think it's about eight percent going um from this kind of like airdrop here and they drop to a bunch of different people

that use the bridge that lpd that bonded you know even early or ethereum users now for those who don't know uh much of the hop team came from authorium which was uh an ethereum wallet that was being developed a while ago i believe it's no longer in development but yeah you got some hop tokens if you uh if you were an early authorial user and funny enough that's where i got my hop tokens from i have i didn't actually meet the two the bridge the minimum bridge transactions here the dollar amount and i did an lp so i didn't get any tokens from that but i got it from uh from being an earlier theory music which was a nice little thing got about a thousand tokens going assassinate there um but anyway uh i think what you know you should go read kind of like the rest

of the details here around how this is all gonna work and you can kind of like see their their distribution here outside of the airdrop as well which i think is actually pretty good right like i mean if you look at kind of like where most of it's going i know some people kind of like brought up oh you know 60 gone to the treasury that's just the meme is just gonna sit there and do nothing i'm like no i don't think so guys like i really don't think it's gonna sit there and do nothing and then some people were critical and saying ah you know team investors get a healthy chunk and i've talked about this i think on the refuel recently where i said that i think the team should get a healthy chunk they're the ones that are going to be there years

after all the speculators are kind of like gone and they're going to be building the thing and adding the most value so i have no problem with that and they only gave like 6.2 percent to investors which i think they've only done a seed round i haven't seen them do any other rounds um for investors either which is which is pretty cool all right so let's focus on a bit of the drama that happened here the drama mainly focused on people complaining that they didn't reach the minimum uh of two bridge transactions with a thousand dollars of volume now i mean i guess like a big reason this was done is to kind of like get rid of the civil um kind of like attacks and get rid of people trying to farm the airdrop and people are complaining about this because obviously they're like

they're all trying to farm the air drop and they're not getting money and i kind of put out a tweet here as well um based on this where i said you know quote-unquote this airdrop is unfair directly translates to quote-unquote i demand that you give me more money air drops are completely broken at this point and do more harm than good for a project everyone complaining about uh quote-unquote unfair air drops is someone who would just dump and move on anyway now i have been through pretty much like all the air drops that you can be through i have been a recipient of a lot of these air drops i don't farm them myself i just use the products um in my kind of like day to day activities and i managed to kind of like get tokens and i'm gonna be happy to admit this 90 plus percent

of the air drops that i have gotten i have sold and not looked back right i haven't even done anything with the project and that's what most people will do so why would you reward those people like i don't understand the logic here of kind of like rewarding those people those mercenaries those speculators who are literally going to dump the second they get the token and not only are they going to do that they're not going to pay any attention to your project anymore not add any value to it not even be part of your community and they may even just kind of like flood your project because they've sold and they don't care about it anymore so why are we rewarding those people like this is a thing that i've always had an issue with when it comes to these airdrops is that people are so entitled they

the the tokens go to the wrong people they add no value and what ends up happening is that the project the core team the actual community members have to put up with this and have to actually deal with this if you go into the hop discord channel right now it is a show like it is just a bunch of people complaining that they're not getting free money and these people would not have done anything for the protocol anyway and on top of this hop i mean not just hop like most products in define ethereum today don't have that many users in the grand scheme of things if we expect these things to have 100 million plus users eventually i mean most of them don't even have 10 000 real users like real active users so why would you give most of the tokens to like less than 10 000 people when you

want to on board 100 million plus people to your product right you want to get and bought as many people to your product as possible it's just such a weird thing to me and that's why i think that airdrops are fundamentally broken at this point there needs to be a way to do them in such a a better way token distributions are really hard i've spoken about this before but you know i don't envy the teams that are trying to kind of like tokenize at this point because you can't please everyone but i've just become so frustrated and so disillusioned by the amount of people who are just so entitled and think that they're entitled to kind of like free money for absolutely nothing just because there's been lots of those air drops in the past and that's fine right you there's there's also um there's also a blame to be put on the

teams as well sometimes where okay if the teams didn't want this to happen uh they could have structured their their kind of like airdrop in a different way or maybe they didn't even need to do a token or maybe they could have waited to do a token but at the same time teams are in a rock and a hard place because they do want to tokenize they do want to decentralize but doing an airdrop is one of the hardest things ever because not only are people farming it but they're expecting it when something like the uni airdrop was done no one was expecting that at the time like absolutely no one was expecting that no one was really even expecting uni swap to do a token i mean there were some people saying it because they said oh uni swap has to do a token now because sushi swap has has

come out and done a token all that sorts of stuff but no one expected the the muni airdrop that happened and that was at the time the best airdrop in ethereum's history in crypto's history and it works really well but even though that airdrop was so good it doesn't matter the uni token is down like 80 something percent it's in your ens dydx all the air drops that people consider to be good air drops those tokens are wrecked for a number of different reasons one is that they started off at a really high market cap right so everyone was just like wow okay there's my not everyone but like the smarter people were just like okay well this market is really high um and it doesn't really just the valuation is not justified by the product i'm just gonna sell my tokens here and that's a lot of people did and

then the token just goes down only two there's no fundamental value being driven to a lot of these tokens like uni for example there's no fee switch there's no staking you can't stake it and and kind of like uh get a share of the fees generated by the uniform protocol it is literally just a governance token right now yes okay in the future sometime they may turn on the fee switch but you don't know when that's going to be it's an undefined point in the future so for intents and purposes uni is only worth its governance worth and it's kind of like speculation on its future value via the kind of like fee switch um same goes for things like ans and doi dx and stuff like that uh but like i mean they're they're what i would consider actually like tokens that are attached

to really really good projects with amazing product market fit but then you look at like all the other tokens like most of the other tokens i should say that don't aren't attached to good products that are attached to really bad products ones that don't have product market fit ones that don't have any traction and people expect them to maintain billion dollar evaluations guys like i just think people like especially over the last two years in this inflationary environment that we've had where everyone everything just went crazy people have been given this extreme false sense of security where they think that these things uh should be worth what they were worth when in reality they were never really worth that it was just bull market froth and them being down 90 is not a surprise to me at all like as i've said to you guys before like i'm

totally honest with you guys about all these things i've taken a lot of profits from everything else except eighth at this point i haven't sold in the eighth but from other things because the market just got too stupid i've been in this market long enough to know when things are getting really heated and really stupid i've always maintained that i think that is undervalued and i still maintain that to this day it doesn't matter what the it doesn't matter that if he's kind of like you know dumping again today i don't care i still think he's severely undervalued and i'm still buying it but 99 of the out there is still overvalued right even after dropping so much and it gets even more extremely overvalued due to bull markets even the most bullish things at the time that everyone is kind of like piling onto is just crap and it's for a number

of reasons but the number one reason in my eyes is that these things do not have actual product market fit they do not have traction they are bad products and um i've i've maintained this for a long time with you guys like as i said i'm very honest about this and i and i and this is not a new thing for me to say and this all folds into people being entitled and being like i want free money i want an airdrop i want this oh if your airdrop is not designed correctly then your project's dead that's that's that's not a healthy way to kind of like uh be in this ecosystem i just think it's insane so i really feel sorry for kind of like the hop team they've tried to do things right they've tried to reward people they've tried to make it so that the people who farmed

the airdrop aren't rewarded and they're still getting bombarded by idiots but i think hop will be fine because hop has a really really great product you know before they i don't know came up with the token plenty of people are using it and people are getting value out of it but they still have a lot of growth ahead of them every product in this industry that has product market fit that will actually succeed has a ton of growth ahead of it so why would you reward with like a big airdrop these early speculators who are just going to dump it into them into the market rather than keeping most of the tokens in a treasury or for some incentive programs later on and then slowly giving that out i think the best kind of like projects in this ecosystem are the ones that are going to award

contributors to the actual project over time uh instead of just air dropping to to mercenaries but anyway that's that's kind of like my rant on this sort of stuff there was a lot of discussion about this in the daily grade discord channel today as well but i just think that this sort of stuff like it it goes back to kind of like everyone just clueing into things very very quickly and and the reason why the uni airdropped work is because it was a surprise but then after that they've just been downhill from there because everyone expected it everyone was farming it and then the teams have to kind of like play games of of um sifting through who's farming it and who you know who's trying to cybel the airdrop and who's not and who's genuine users and it's just extra overhead for them they're never going to

get it completely right because it's very hard to get these things completely right and they're never going to please everyone so from that perspective uh i don't as i said i don't envy teams trying to do these sorts of stuff but i do think eventually we're going to get to like a really nice model not just on the airdrop front but on the token distribution front um that'll be great and at but at the end of the day the only two coins that i consider in crypto to have had good distribution are ethan btc and that is due to a bunch of different variables that are just not possible today number one being they were launched into very very different markets i mean obviously bitcoin was launched into you know a nothing market there was no crypto market and then ethereum was or eth was launched into a

much much much smaller ecosystem today it's completely different today you don't have that luxury um and at the same time you know ethan btc have both suffered a lot over the years they've both gone down 90 plus percent over the years right they've both had brutal drawdowns and come back from them based on their own merits and that's what needs to happen for a lot of these tokens like there are good tokens tied to good projects that have product market fit that are still going to go down a lot because it just just kind of like the way markets work but eventually some of them will come back and go on to become true billion dollar protocols with true valuations rather than these inflated things that we see um and doesn't matter how well you design your airdrop it doesn't change the fact that you need to design a good product and

you need to actually have natural demand for your token if you want it to accrue value over time you can't just rely on designing a good distribution you need the demand side as well so yeah anyway i'm going to end it there because i've gone on about that for a little while now but i i guess like congrats to hop for getting this out they're getting their doubt out they're getting their token out there that i i mean for anyone from hop listening to this or any hop community members you guys will be fine these people complaining are just going to like subside eventually and and they'll be gone and then you'll just continue building can you building out the great product that you guys have and i'll keep supporting you like i have you know since you guys have been around all right so uh there's some new new

research about uni swap v3 liquidity today this is from dan roberson robinson and gordon gordon liao i think his last name is here uh which shows that unisoft v3 actually has deeper liquidity in the etherusd and 8th btc pairs and some other popular pairs than leading centralized exchanges such as coinbase and binance you can see this nice little chart here that shows this so basically what this is showing is the depth um that you get on on unisop versus centralized exchanges uh for where you'll move the price plus or minus two percent uh in in the millions so in unisop v3 to move the etherusd price if i'm reading this correctly to move it uh plus or minus two percent you would need to sell almost 60 million dollars worth

of eth that's crazy when you think about it right um and and uh with each btc you would need to sell around 30 million dollars worth of kind of like eighth there now comparing this to binance coinbase and kraken um you would need to sell i think for binance and coinbase is about the same uh almost 30 million of ethios of um into usd kraken it's a bit less at 24 million just eyeballing it and then gemini it's much less there but this is crazy i mean the capital efficiency here is nuts like i've i've talked about unison v3 before and how how like amazing it is with with with its capital efficiency um but now this is really cool that's kind of like being quantified in this blog post here so i mean highly recommend checking this out it's a pretty lengthy blog post but it

goes through all the methodology and kind of like all the good stuff here with a bunch of different charts and some math for you guys to have a look at as well i'll link this in the youtube description for you to check out all right so galion has announced today that they're going to be leveling up their brand and kind of like i guess changing the design here so you can see they have a new logo for those of you who've been following this project uh they've got like a new logo new design kind of like new typeface and all that sort of stuff and they're going to go in this thread about kind of um what what they're going to be doing and and kind of like not just on the design side but also on the product side and how they're going to be evolving so i guess maybe

this isn't a galleon 2.0 but it's like definitely a major level up for galion here so if you're interested in them if you're interested in kind of keeping up with what they're doing they're an asset management methodologist guild that's what they describe themselves as by the way but if you're interested in kind of like keeping up with this you can join their discord channel read through this twitter thread just really really cool to see them kind of like uh focusing on their branding here i actually really like this branding like i i love it it's simple right it looks professional too like it looks like something like a black rock would like if you're going for like the asset management look i mean if you look at the way kind of like blackrock is like blackrock i'm just googling it right now because i i forgot

what it was it's literally just kind of like a bold typeface name there's not even a logo there um and then there's you know obviously a bunch of us other asset managers that kind of like have the same thing but you want to maintain that kind of like professional look as an asset management protocol but also kind of like look look a bit more i guess like fintechy fresh which is what galion i think has done here so i really like it personally but obviously design is very subjective so if you know if you don't like it maybe you should jump into the discord channel let them know kind of give them feedback on this because it is an open kind of community thing and it's just really cool to see them kind of redesigning it here all right so mstable has announced today that erc 4626 metavolts are coming to

the protocol so the tldr on these is that uh m stable save could not easily be scaled to achieve m stable's growth ambitions so an open and composable architecture architecture was required to scale and m-stable will leverage this new erc uh standard for fully compressible volts starting with the metal metavolt so for those of you who have been listening to the refuel for a while you will have no i know what i what erc 4626 is i covered it a little while ago but it's basically a standard for fully composable vaults so basically there are yield bearing vaults within crypto a lot of them right there's yearn uh you know m stable a bunch of others out there like um like convex and stuff like that but there's no hasn't been like an erc20 stand or sorry an erc standard around this yet and then came

along 46 26 which aims to standardize this and these things this brings with it a bunch of different benefits like being able to to kind of like i have kind of like an easy to read kind of like dashboard for uh a built into kind of like the uh the vaults for uh the kind of like yield that's being generated on things kind of like uh the um the time that that yield has been generated there kind of like the history of that yield sort of things like that uh which obviously lends itself to a lot of really cool features and it makes it more composable so it's cool to see emstable being kind of like a pioneer here uh and i mean disclosure for you guys you guys know that i'm a seed investor and an advisor to mstable um but like i think that they're really

pushing the boundary here by being like an early adopter of this so if you want to read more details about this check this out i'll link it in the youtube description below so immutable just shared uh today that they've like the um the big kind of like companies that they've partnered with so they've onboarded some of the best marketplaces for world-class nfts on their uh on their kind of like immutable x platform here so you can see they've onboarded uh things like gamestop obviously okay x which is kind of like in exchange here and a bunch of others like to controve and nft trade and then you could see those marketplaces are sitting on top of immutable x which is obviously a immutables kind of like scalable ecosystem here it's uh it's skewed by ethereum l1 zero gas fees you know high transactions per second and

carbon neutral as well which is obviously very important for uh i guess like the nft crowd i think it is actually quite important to be carbon neutral and stuff like that so cool to see that there but i just wanted to kind of like highlight this and in case people had forgotten that immutable is still there still scaling the nft ecosystem on ethereum and maybe you know when we have like another big mint like what you labs did they can do it on layer two instead of layer one and look you know it's funny i say that but at the same time like i didn't i don't i didn't actually mind that yuga did it on layer one because of the fact that i burned a lot of eighth but for a sustainable kind of like user-facing ecosystem it needs to be done at like layer two it can't just

be done at least one with gas wars and and whales just eating everything up that doesn't lend itself to a good product it doesn't matter how much ether burns it does it just doesn't lend itself to a good product so yeah hopefully future nft means can be done on more scalable ecosystems all right so an update out of perpetual protocol today so multi-collateral is now live on their protocol so you can now maintain exposure to eat while trading perpetuals with up to 10 times leverage on chain at app.perp.com here so the multi-collateral feature allows traders on pert v2 to use other tokens then usdc is collateral first offer eighth and wrapped eighth uh they'll be adding other assets in the future such as frax perp and ust so if you are a degen and you love uh trading petrols and you're a

perpetual protocol user well this will be music to your ears that you can use other tokens as collateral instead of just usdc now obviously i always like to kind of like um disclose risks here perpetual trading is is quite risky uh especially i mean just in general leveraged trading is quite risky but uh if you as perpetual protocol said here gm dangens if you are already a dj then you should already know this uh and if you're kind of like interested in doing this sort of stuff then definitely go check it out i'll link it in the youtube description below so rainbow has released something the rainbow mobile wallet has released something for developers today called uh rainbow kit which is basically the easiest way to connect a wallet to anything basically so uh for for the developers out there you will understand

what this kind of like uh line means npm you know to download uh the kind of like a rainbow kit here and you can kind of like uh view the docs as well if you're a developer but basically it makes the ethereum login experience uh uh pretty straightforward and lets you kind of like integrate rainbow into your web3 app essentially with a bunch of different uh kind of like um different modes and different color schemes and stuff like that and radiuses i mean you can see me playing around with it on screen right here so i just wanted to kind of like highlight this for the developers that watch the show obviously for end users this is not something that you're going to use um but it's something that you're going to get use out of once it's been implemented on various different platforms so just

wanted to highlight that one there all right so this little tweet that i put out last night where i basically said i hate to break this to many of you but just because eth came back from a 94 dump doesn't mean your favorite token will do the same in fact 99 of tokens will probably never go back to their all-time high again you'll either learn this lesson the easy way or the hard way now i mean i spoke about just before ranted about the airdrop stuff just before and it was related to a lot of this so i won't focus on the first part of this tweet but i wanted to focus on how to learn this lesson the easy way and the hard way so the easy way is basically you learn this lesson by cutting your losses early and moving on and what that

means is that you sell that you're losing kind of like investments early maybe it's a cash or something like that and then you reinvest those kind of like that money into either or into something else or whatever something less volatile right but learning it the hard way is that you hold that you know those tokens down 19 95 99 and cry yourself to sleep at night right i've done both uh i've held things down 95 plus uh thinking that they would come back uh not just eth like uh and and they just never did right these things never came back they just died their products died they had no demand side and that's just the way it is right um and then i've learned that the easy way i've been able to cut my losses early on or at least sell something into a mania

early on without kind of like holding it after kind of like the the bull market subsided and the thing just dumps 90 plus percent again i think i learned more from the hardware than the easy way though because from the hard way it takes years for that stuff to kind of like sit in like i held onto these things for years like it was stuff that i had bought in 2017 that i had a lot of faith in back then but they just didn't materialize and one of them for i've talked about this before was aeon now this was an alternative blockchain this was not it was it was funny like that that i invested in an alts kind of like l1 at the time with and and oh and it was funny because i also invested in polka dots ico at the time but i wasn't

really uh as convinced of a kind of like ethereum winning winning in 2017 as i as i did become convinced in 2018 2019 so i i bought into aon according to their vision and to be fair they had a pretty cool vision uh i think at the time they just executed it like completely wrong completely poorly but i held that thing down like 95 plus thinking that it would come back thinking that it would be fine and then i finally sold it at the bottom basically and got you know a little bit of eight out of it but i sold it at a loss that taught me so much more than anything else the number one lesson it taught me is the the kind of like very valuable lesson of the fact that doesn't matter how much you believe in a project doesn't matter how excited you are about

a project doesn't matter how much it makes sense to you uh or once made sense to you it that doesn't none of that matters because at the end of the day what matters is does it actually have traction it doesn't actually have a community doesn't ever even doesn't make sense anymore has the market moved on from it as the ecosystem moved on from it and it did and now aeon is completely dead like it i don't think they're doing anything i think they pivoted a couple of times but i haven't seen anything out of them for a long time so taking all that into account uh it was a good lesson for me and i think people need to learn that lesson for sure but the easy way i mean hurts hurts less right because with the easy way i took i took profits maybe rolled them into eighth

and all was well and good there especially during defy summer i mean i sold a lot of my d5 tokens back then i didn't sell the top but i sold them at nice amounts and then i rolled it into eighth when eighth was like 400 or something uh and then obviously that did quite well from that quite well from there but i could only do that at the time because i learned the hard lesson from something like aeon right so yeah i i feel like i i try to kind of like not totally tell this to you guys as investment advice but just kind of like bestow this kind of like wisdom upon you to to kind of like get through to you that you you'll learn these lessons in your own ways and don't feel too bad about holding something down because you believe in it and then it's just not

materializing because at the end of the day you're never going to be able to hit that like 10x 100x by just focusing on like focusing with a conservative kind of like investment strategy because if you invest in like 10 different things and only one of them gives you 100x well that makes up for all the nine losses you know say nine of them go down 90 well depending if you put equal amounts of money into each of them then yeah people different amounts of money it could differ but really it's that one that you want at the end of the day and and for me a big part of a big big one for me was um was uh was eighth of course and a couple of things in d5 summer but i had a bunch of losers as well i was not like the

perfect investor that just bought into everything no one's a perfect investor right um so yeah just a little bit of i guess kind of like wisdom there for for you guys uh and i think that uh i think that you guys are on the right track i see a lot of you talking about this in the discord channel you guys definitely are more switched on than the average user that's for sure and i i really love that i love that people are more switched on i love that people are paying more attention but anyway i'm going to leave it at that we've got we've got about a minute left to go through the last thing i want to talk about which was a tweet from linda shea here who said dynamic nfts that visually incorporate people's on-chain activity slash off-chain behavior is an under-exploit area of incentive design

for example your nft starts looking a lot cooler the more active you become within a dow this would be very very cool right like like an on an nft that evolves based on your on-chain activity um there's a few few projects tackling this right now as well um you can see one that was kind of like linked here there's a few others that were linked in kind of like the the replies here uh as well so you can go check them out but yeah i think this is this is cool because at the end of the day like nfts have a lot to do with kind of like gaming i think and a lot to do with i guess like social status and if you if you want to kind of like level up in a game or level up your social status you definitely want that to evolve as kind

of like time goes on so it'd be awesome to have an nft on satellite that evolved with kind of like what i do in the ecosystem and then it becomes very unique right because it is basically uniquely specified to my own on-chain activity instead of just being kind of like generic and being the same as everyone else but yeah something to think about but i'm going to end it there because i've gone over time here uh but yeah don't forget to check out the daily great merch as i said links in the youtube description below for you to do so but on that note it's gonna be for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all next week

thanks everyone