EIP-4488 chat, Immutable X integrates MoonPay & more - The Daily Gwei Refuel #265 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel worry cap the latest news the ethereum ecosystem i'm your host anthony sosano and today's the 2nd of december 2021 all right everyone let's get into it so as i mentioned yesterday git coin grants round 12 is now live with over two million dollars in the matching funds up for grabs i've seen a bunch of people already donate to the daily grace so thank you very much for that really really appreciate that but of course definitely go here and donate to all of your favorite projects um just a reminder for you guys i'll remind you again in a few days but what i really wanted to talk about with regards to get coin was this donation that was made by the kind of like noun nft project here now they've made a donation of 169

each to get coin for the matching round 12 which is worth about 750 000 us dollars this is really really awesome and i don't think this tweet thread is is 69 tweets no it's not it's it's only a few tweets so you can go read this thread to get more information here um but the reason why i think this is cool is because it's embracing danny ryan's kind of like idea from a uh it's about a month ago now where he basically said we should make it a social norm for all dows and other network tokens building on ethereum to allocate 1.5 of their tokens to the individuals building and designing the l1 infrastructure that they rely upon these researchers and devs do more for most tokens than an evc so i talked about this at the time when danny put this tweet out because i

thought it was great and we haven't really seen much movement there until now until this noun kind of like nft project uh voted to donate 750 000 worth of eth to a git coin which i think is absolutely amazing but seriously if you uh whoops uh if you actually consider kind of like how much money could actually go towards public goods funding not just uh through bitcoin but through other kind of like uh avenues when you take into account how much money a lot of these kind of like token uh i guess like new tokens have all these tokens have in their treasuries it's a lot right it's potentially billions of dollars i know that you know tokens in a native tokens in a treasury isn't a real treasury it can't really be relied upon too much but there are plenty of examples of these

treasuries having more than their native token in them um to the tune of kind of like billions of dollars and then you allocate 1.5 percent of that over over the years and i reckon you could get to billions of dollars worth of funding eventually for these sorts of things probably it only starts out with a few million but still that's a few million that we didn't have before going to supporting the people that are keeping the ethereum network alive upgrading it keeping it uh you know maintained and keeping it and instituting it and getting us to where we need to be not just at the core protocol layout but also with layer twos roll-ups supporting infrastructure all that sort of stuff so i was just really happy to see that um kind of like now and did this donation here i'm hoping to see other projects

follow suit because we need more of this we definitely need more of this and especially with projects that have like large treasuries or kind of like large war chests um they definitely need to kind of like step up here and donate uh because i think it's just a great public good thing to do anyway enough on that one there's an interesting tweet from david hoffman here today called uh called uh where he shared basically a pie chart uh with the caption here's a more detailed pie chart of the ether genesis allocations now by genesis allocations this is basically um i guess like ico plus uh what was possible the ether has been mined since then so you can see here that the total each supply is currently 118 million 60.1 million of that went to the uh ethereum ico essentially um so that was part of the

public sale that happened in 2014 there was no kyc required for this there was no credit accredited investor kind of like check there was nothing like that it was literally you sent some btc to an address and then a year later when the ethereum network went live you were issued your eighth on the network and away you go from there now there was um a bunch of other eighth also issued at the time to various parties um the ethereum foundation were issued 3.48 million eighth of which they're only retaining 350 000 today they sold a lot in the early days because they needed the money for funding um there was 8.4 million uh eth given to early contributors those were kind of like founders um and just like anyone who worked really early on with ethereum now reminder if your eighth was worth 30 cents well that was an implied valuation

at the time because the ico raised i think 30 million dollars or something like that um so yeah the implied valuation was about 30 cents per token which i'm sure we all would love to get our hands on a 30 cent each but back then they had to pay like thousands of each just to pay someone a normal full-time wage right um that's just kind of like the way it was back then and then uh then uh there's also the largest single uh recipient here which is vitalik who got 696 thousand eighth at the time of which he today retains about 350 000 of that he has given away a lot of it he has donated a lot of it and over time he has sold some obviously for his own expenses um but that is a very very small percentage of the network i think

it's 0.7 percent of the network now the rest of the coins that make up the 118 million total each supply come from the coins that have been mined since then of which 45.9 million have been mined where anyone could acquire these by setting up mining hardware now we all know that the eat supply is not capped it's going to keep growing over time even after the merge but you know post merge is going to grow at a much much lower rate less than 1 issuance per year and then we have the burn to offset that extra issuance which makes us deflationary at current fee levels but yeah i thought this was a really cool pie chart that david kind of shared here it really does show that most of the network has gone to uh i guess like the you know openly it's gone to the people hasn't gone to like

any vc hasn't gone to any insiders um you know 60 million went to the public sale 46 million has gone to mining and the rest of it went to kind of like funding the development of the thing because i mean if the ethereum foundation didn't have this eth then they would uh not been able to kind of like fund themselves uh and if you know vitalik taking his share i mean as i said the implied valuation at the time was thirty cents so seven hundred thousand eighth that almost seven hundred thousand eight that vitality took at that time uh wasn't worth very much right compared to what it's worth today obviously it's it's worth billions of dollars today and as i said he sold some he's got 350 000 eth left but he took a very very very small share and i think he did that on purpose because

ethereum is supposed to be decentralized network there is not supposed to be any one kind of like party or or sorry any individual entity that controls a large portion of the supply uh and i think that you know there were people or they probably probably even are people who own a large portion of the supply but they had to buy it on on either through the ico or on public market there are probably people out there that have you know a one million plus eight like individuals that have one million plus eighth uh but they either bought that at the sale or bought it or kind of mined it i mean i doubt they mine that much eat but they bought at the sale they bought it on the open market like everyone else had the opportunity to do they were not allocated it as part of some insider

allocation uh even the early contributors i mean there were a lot of early contributors that kind of like helped ethereum out and a lot of them actually sold their stake early on too like funny enough it's actually it's very hard to describe how different it was back then like i actually wasn't around in the 2014 2015-2016 era of ethereum but i have a lot of friends who were and they described it to me it was just a night and day difference to what it is now there was no guarantee that ethereum was going to go anywhere like absolutely anywhere and when ethereum actually went live the price of eth i think went to like a dollar or two dollars initially and then just like up over time fell back to i think 40 cents or something like that and then it stayed pretty flat for a while um

you know and then you know 2016 was a big year for faith went to like 25 bucks but then went back to six because of the dow stuff so during that kind of like period of two and a half years since ethereum kind of like uh was did the ico there was a lot of uncertainty there was absolutely zero guarantee anything was going to happen here no one in their wildest dreams predicted that ethan was going to 1400 um basically at the end of 2017 i mean technically jan 8 2018 but no one predicted that at all no one even predicted that ethan was going to 100 right that was just like the craziest things to say so a lot of people sold and they sold early now looking back but if you consider it at the time it wasn't early it's just like relative uh you

know we're looking at relative kind of like our sale prices now so that actually worked to distribute eth in an even better way especially for miners who were mining it they didn't get it too too much over control of the network eth went through many market cycles which distributed the tokens out and i think it's pretty safe to say that there are only a handful of individuals today if that that would own you know more than a million eight which is still less than one percent of the supply in mind you uh but i don't i don't think there's actually many of those people i would probably wager there's maybe two or three of those individuals uh i don't even know if joe lubin who was one of the biggest eighth holders because he bought a lot of it um would even have that much anymore so that is what

multiple market cycles do uh they distribute tokens out that is what i think that is what uh something that's unique to ethereum as well is that when it launched right or when it was concepted and then launched it didn't launch into an industry like we have today it launched into a very very nascent industry where the only thing that was considered legit at the time was bitcoin because everything else was either an offshoot of bitcoin or a direct fork or a pure scam now we obviously have a lot of legitimate projects out there but a lot of them are very heavy insider allocated and it's extremely hard to decentralize ownership of a token uh over over the short term and over the long term it kind of relies on a lot of luck as well and relies a lot of timing getting the timing right so

i think that eth is in a very very unique position there i don't think it can be repeated bitcoin and either the only ones that had this kind of like uh i guess immaculate conception and had this openness because you can't actually do a raise like this these days um and if you do it you you kind of like bring on the eye of regulators back then regulators weren't even looking at this industry really i mean the biggest regulatory action that got that took place that had to do with crypto was the shutting down of silk road but that was shutting down of silk grove that they had little to do with crypto itself it's just that bitcoin obviously was used a lot on that marketplace uh but it wasn't really about crypto it was about shutting down silk roads so yeah as i said thought this was interesting

from david i just wanted to kind of walk through it a bit for you guys but moving on so proto lambda put out a great tweet today about eip 4488 now i discussed this eip last week but i want to run through it again for those who missed it so this eip basically uh uh kind of like proposes that we should lower the gas cost of core data from a 16 to 3 which would lead to a five times increase in uh sorry five times decrease in gas fees for roll-ups specifically because roll-ups aid uh data hungry uh they love to chew up that core data which is layer one data um that's used to secure the roll-up now i've talked about off chain data kind of like communities before and things like that but that makes something not a roll up it's either it's

like a volidium or a volition or a zk porter but optimistic rollups can't take advantage of that they are they are constricted in that way where they must place their data on layer one to even work which means that it's currently pretty costly for them uh i think that you know a um a swap can be like six or seven dollars on an optimistic roll up or sorry on optimism or arbitrarium if this erp was to go through that would come down to one or two dollars and this is before the uh the um optimistic roll-ups do their own core data compression and amortize the gas fees so we could easily see sub one dollar swaps on these things if this eip was to go through now in this thread proto-lambda goes through this and explains it in better words than i can you guys will know about proto i've

talked about him before used to be in ethereum core developer now works at optimism as an optimist as he likes to call himself uh but yeah this is a big deal and you know people may be wondering what's the trade-off if we were to do this the trade-off is that the chain gets larger and it becomes marginally harder to run the blockchain which means that we may suffer some kind of like loss of decentralization because of this now i don't think it would be any huge impact i actually think the trade-off is worth it because right now the impact is that yeah okay we're super decentralized but there's only a very few users who can even use layer one and then you go to layer two and the costs are still you know higher than we want them to be so this eip is very very simple as i said

it just reduces the co the gas cost of call data from 16 to 3 gas per bytes um which is which is a 5x kind of like decrease there um and then proto goes on in this thread about kind of like how uh there's an improved version of this called 4490 which you can check out uh as i said what the trade-offs are and then kind of like a link to the discussion on the ethereum magicians so definitely go check this out if you haven't already uh i'll be discussing this as time goes on i think they're trying to get it done before the merge but i doubt um it's going to go through before the merge unless there's like a massive push for this but again it's a small relatively small change it doesn't require any kind of like massive overhaul of anything it's if i had to

guess it's probably like a few lines maybe not even that of code change here but you obviously need to do the testing you need to do kind of like the auditing you need to make sure everything's good to go before this hits main nets and you also need to get community buying there are still people on the other side being like is this worth it sort of thing will this delay the merge blah blah if it if it did delay the merge it'd probably only be by a couple of weeks which you know is that really a big deal i don't think so it gives the merge kind of guys more time to uh to test out the merge and to kind of like make make sure things are cool but there's no date for the merge yet anyway so i don't know if i'd even consider it

a delay but but yeah go give this thread a read it'll be linked in the youtube description below so i put out this tweet today where i said zk teams need to stop constantly taking cheap shots at optimistic roll-up teams and just work together to scale ethereum there i said it now this comes from a little bit of a frustration seeing various zk teams and dk researchers not all of them but you know many of them take these cheap kind of shitty shots at optimistic roll-ups saying that they're inferior technology they're obsolete they're this they're that but then i look at it and i'm like okay well show us what you got zk teams do you have a generalized evm ready for users today that it a zkvm ready fuses today no none of them have that none of

them even have close to that as i described stark net is really really cool but it is not evm compatible and it's still really early in an alpha kind of like fashion zk evm is still a research project it is not live yet it will be live eventually but it is not live yet and it's probably a little while away still so we have optimistic rollups live today they are evm compatible or evm equivalent in optimism's case they work projects can easily deploy there users can easily on board to there and bridge to there and the fees right now are cheaper than mainnet we can get them cheaper than what they are and we will have over the coming months so why are we kind of saying oh it's obsolete tech and and kind of like taking these cheap shots when in reality it's the tech that's live today who

cares if you consider it obsolete it's what's live today it works today it keeps it keeps people in the ethereum ecosystem and it lets us kind of like fight these other l ones off that offer kind of like cheaper scalability sorry cheaper fees and more scalability at the cost of decentralization so so yeah i just kind of like put that out there as a social signal today and mahalo from the polygon team you know said polygon zk teams never do that and the reason why they don't do that is because as i as i replied here you know polygon is a great example of an ecosystem embracing all scaling solutions and working on them for the betterment of ethereum as i've discussed before polygon is just doing everything it's not taking kind of like any side in this debate they're saying okay we'll do zk okay we'll do up

to mix draw optimistic lapse okay we'll do like hybrids oh okay we'll do side chains okay we'll do standalone you know okay we'll do all this sort of stuff and the thing is is that even the even even polygon from what i can tell knows that zk is the long term solution but they're very very pragmatic about it they're like okay zk's a long-term solution let's throw money at it let's throw research and development at it let's get this thing going but in the meantime let's have our polygon pos chain okay well now that we have the optimistic wallops live let's do those sorts of things uh you know let's kind of like embrace all these solutions and not kind of like become zk maximalist i just i don't get the logic there and i know that like there's a lot of um people on these teams that don't take

these cheap shots but i just think it's counterproductive i think the real battle shouldn't be l2s fighting each other it should be l2s fighting off these other l1s because that's who they're competing with like that yes okay to an extent they may be competing with each other but at the end of the day the pie is going to get so much bigger from here that if they're trying to compete with each other right now over the limited users that we do have um and especially when one of these kind of like technologies zk it doesn't even have something that's evm or generalized evm compatible yet i just don't understand why why why this needs to be a thing so hopefully we can see less of this um i you know i i send the social signal out there because i want to make sure that we can kind of

see less of this and just work together no matter the technology to scale ethereum and stop being elitist about it like seriously as long as you're honest about the trade-offs of these things as long as you're not trying to mislead users and as long as you're not selling something and saying oh it does this but it actually doesn't then i see no issue with kind of like embracing these solutions um even embracing things like side chains or or kind of like in polygons uh pos trains case the commit chain that was the same logic i used back then it was ready users on board to it they got a cheap d5 experience and now optimistic roll-ups are ready so they're on boarding to that and then hopefully zkvm roll up the ropes will be ready in the near future i think it's going to take longer than people think but you

know when it's ready people will use it but use what's ready today don't just sit around you know kind of like um circle jerking being like yeah we're the best technology ever when there's nothing even live yet less okay in theory your technology is great but at least have something live right at least have a zka vm live before you start swinging you know your thing around uh trying to kind of like measure it against everyone else in the room so anyway that's kind of like my little summary of that tweet there moving on speaking of optimistic roll-ups as uh little cohen did another great thread today this time uh about projects on arbitrary so you can see here premiere launched on arbitrary recently i've been talking about them gmx is on there treasure nft which apparently is an nft platform or treasure dao that is getting

a lot of traction on arbitration right now you have a spell on there or i guess like um abracadabra i cannot even know what their name is anymore but yeah spell abracadabra on there and then you can bridge using hot protocol of course uh to to go to arbitram um and then there's kind of like defilament that keeps track of things and a bunch of other things you can read through the thread i just wanted to hide this thread because i highlighted his optimism one love these things love being able to kind of like spread the word about these l2s as i said they're live ready today on board onto them experience cheaper defy and uh it'll get cheaper in the near future as well so high five finance is now live on polygons so they were live on the ethereum mainnet but now they're also

live on polygon this protocol offers a fixed rate fixed term borrowing against your crypto so it's in beta right now of course but you can go to the kind of like site here check connect your wallet check it all out it is very early days i think for for hifi but still good to see another kind of like uh d5 related app go live on polygon after also going live on mainnet so definitely go check that out if you haven't already update here from element finance so component uh the component team has launched the first iteration of a yield token compounding tool built on top of element finance that you can try out today so in this thread they describe how a user can got nine percent variable exposure to 134 000 by spending 3.4 k now the tldr from what i understand is that the user basically

just bought the yield bearing token of that 134 000 and that's why it only cost 3.4k which is just a really cool thing that element finance kind of like enables people to do and it lets kind of like these other products like component build on top of it to offer these sorts of things to users so definitely go check out the thread for more details on this it's very detailed so if you want to learn how all this stuff works it's here but that's kind of like the tldr from my end there all right so lyra finance announced today a retroactive community reward program to give back to everyone who has played a part in their journey so far so they're actually air-dropping tokens to the lyra discord community so if you're active in their discord you've got some tokens early traders and pre-ignition liquidity providers so if you kind of

like read this blog post here it's got all the details of it their token seems to be going live next week or no sorry in two weeks on december 14th at midnight utc um and all the tokens will be claimable on optimistic ethereum for six months now what i really like about this is the fact that apparently a lot of users got a healthy airdrop if they were active in the discord community which is cool because i've said before that protocols need to airdrop tokens to more of the kind of like long-term aligned community members and i can't think of anyone better long-term aligned than community members who are active in a discord channel especially for longer periods of time because you're not going to be active and be in a discord channel every single day for like a month for example if you're not genuinely talking about kind

of like the protocol genuinely getting to know the community participating adding value and if you know if you're just spamming in there you're going to get banned so it's a really really great way to distribute kind of like tokens to more of the long-term aligned community and as i said it seems to be a healthy distribution because people like to do i think their um their own kind of like napkin math of what the market cap would be you know they compare lyra to other options protocols out there and compare kind of like the valuation and things like that i don't know what numbers they came to i'm not even going to speculate here because i am an investor in lyra but uh i i just think it's one of the cooler ways to do to do an airdrop and i'm sure they kind of like filtered out

for for any kind of bots or spam or just low quality kind of like content on their discord um but as i said it wasn't the only um that wasn't the only people they distributed tokens to also for early users and lp's of the protocol which is you know kind of standard these days um and also uh early traders as well which was really really cool to see so definitely go check out the blog post for more information on this so uh lemma lemma or lemon finance is now live on mainnet now they build themselves as the first basis trading vault and stable coin backed by decentralized derivatives to launch on mainnet so if you're not familiar with what these products are never fear neither am i these are as i said like there's a lot of exotic products coming to dfi now and this is kind of another another one

of them essentially what you know kind of like a a basis trading protocol allows you to do is earn yields or a usd denominated yields uh on your crypto so just another way to earn yield in crypto so this is powered by their stable coin called usdl which is a fully decentralized 100 capital efficient usd peg stablecoin or at least that is how they uh bill it usdl is backed by yield generating market neutral position also known as basis trading and they explained it here you can think of basis trading as a loan to long term long traders with volatile but historically superior returns the profits and losses from the usdl basis trading position are abstracted away and distributed pro rata to staked usdl holders so the vault is now open you can go check this out you

can go try it out i think this is really really cool um from my understanding a basis trade is the kind of like trading the spread between the long and short positions this is very popular and traditional finance has been used a very long time if i understand it correctly it's basically the notion of a lot of kind of big crypto traders do this they'll uh kind of like long something on one exchange shorter on another and then they make the profit difference on the kind of like basis trade or essentially because each um exchange has different funding rates for longing and shorting there is a profit opportunity there and this lemma what number is doing is kind of bringing this to the ethereum mainnet so definitely go check this out check out their blog post and check out their website for more information on this uh protocol

so a blog post here from starkware today on big blocks sync time execution layer consensus zero knowledge proofs uh swagmas prime which is awesome to see see him on this uh and louis from starkware or luis from starkware uh um in this blog post unpack the concept of scalability so it's a really great blog post only about an eight minute read but it's it explains the concept of kind of like scalability for blockchains very succinctly so if you want to go check and it's got numbers as well it's got like lots of numbers and i like lots of um uh metrics to look at and and really just explains it in a very simple way so definitely go give this a read it'll be linked in the youtube description below all right so uh brantley is at it again with an update on the november or on

november for ens so in addition to the dow and ens launch uh there are some new stats here so 89.9 000 new dot eth registrations or on ethel one despite high gas fees which is really really awesome i mean that's a lot of new ens uh sorry dot eighth registrations here you can see that that is the biggest month by far in history and obviously that is in due that is due to the token leading to an incredible amount of increased marketing for for a s right like it just it was everywhere for like a couple of days or two or three days which is enough because it just disseminates across um across like the crypto sphere uh 7.6 million dollars in protocol revenue which goes directly to the dow which of course is controlled by e s token holders or any ns delegates um over 99

of opencv volume in its category so there's really no second best when it comes to domain name services and now there's over 200 000 owners so absolutely awesome to see the growth here on ens i mean we all know ens is the you know everyone's favorite kind of like domain provider if you don't have a dot eighth are you even in ethereum really um but you know i do wonder like how many people registered a dot eth name expecting to get an airdrop i i think there's a fair few people who did this but i wouldn't say that it was the majority because as as kind of like brantley points out here there's high gas fees for doing this it's it's not a cheap thing to register a dot eighth name on layer one so unless you were sure unless you or unless you kind of like uh for some

reason just assume that you were getting ens tokens i don't think there's a lot of people that would have done that because there are people that would have seen the gas cost and maybe double checked and be like okay i'm actually going to get ens tokens out of this and they would have seen that they're not and no one is going to like the only ones that got rewarded were from the snapshot that they took which was the 30th of october uh i think it was 35 of october any before any after that he's not getting any ns tokens but i think a lot of people know that and i think people are just registering.eth names because they heard about ens because of the token and as i said before a token is the most powerful marketing vehicle in the world like it is insane especially when done right and

they did it right i believe by air dropping it to all the old kind of like enos owners and and kind of like giving them a healthy air drop and it's the same with what happened with uni swap so really yeah as i said there's no second best when it comes to name services on ethereum ens has a near monopoly is that a bad thing i actually don't think so because when it comes to name services it's actually better to have kind of like just one service rather than like multiple competing ones because if you had multiple competing enses you would basically have to the um interface providers and the wallet providers like metamask and and all that kind of stuff would have to basically delineate between the real e s and the forked ens for example if there was a fork of it because what ends up

happening is that sassel.eth is registered to the real e s contracts but if someone forked e s i would have suscele.eth on the forked ens contract but it would be a separate contract that wouldn't have anything to do with the real ens contract but the um front end would have to actually delineate between these and would have have to actually tell users you're using the original kind of like ens if you want to use the forked one here's how you do it but it gets super messy and it's not something users shouldn't even have to worry about so when it comes to something like ens i'm fine with it having a pretty much a monopoly on on naming in ethereum especially now because it's actually decentralized and it's not just you know um controlled by multi-stakeholders anymore so yeah that's my kind of like logic and

thinking behind that if you disagree with me that's fine i mean i'm happy to hear your thoughts in in the just in the um the comments or on the discord channel but yeah i think that uh from that perspective it makes a lot of sense all right so uh last couple of updates here out of immutable so they have integrated with moon pay which is a fiat on an off-ramp and they've integrated it with immutable x they're layer two so here we have a layer two you know the en the imx layer two which is an nft uh kind of like hub uh integrating with moon pay which is a fiat on an off ramp this is exactly what we want to see as i've said before there are major things we want to see to get l2 adoption going fiat on ramps batched on boarding from

layer 1 and centralized exchange or service on on and off ramps as well so uh you know i don't expect moonpay to be kind of like the last fiat on ramp that immutable x um on boards and i expect all the layer twos to do this because going to ethereum layer one is not an option for new users at all we shouldn't be pushing them to ethereum layer one if we're committed to the vision of a rollup centric ethereum then we should be pushing all users or new users and even existing ones of course but especially new users to use any layer 2 that is available to them and that is easy to onboard for them but you know the funny thing is i was having this discussion today with a few people i actually think the end state of these kind of like layer twos is just

being abstracted away and people just interacting with them through some kind of like interface for example something like a zapper or even a centralized exchange where they don't even have to know kind of like that they're using alba trim or optimism and they certainly don't have to know that they're using ethereum but they're still getting the benefit out of it and the simplest example would of this would be like a yield kind of like um oh sorry stable coin yield protocol the user could just see on their interface hey if you deposit your stable coins here you can earn a five percent return and they'll just do that and then in the background everything is handled for them the funds are put into the relevant l2 uh into the relevant protocol and everything's just completely abstracted away because if we don't do that there's zero way we're getting mass adoption

there is no like there's absolutely no way my parents just as an example here would ever withdraw crypto from a centralized exchange to an albuquerque optimism or whatever other l2 and that you know i would even say that they wouldn't even set up an account on a centralized exchange without me walking them through how to do it so don't take the current crop of users as kind of like the ones that are going to be quote-unquote the mass adopters the current crop of users are the early adopters anyone going to these one of these l2s is an early adopter they are not part of the mainstream mass adoption which is going to come later um but that's not gonna come until we fully abstract this stuff away and make it very very simple for for users and i think you know it's still very important

to have these fiat on-ramps directly to the l2 because that again is just another way of extract abstracting away kind of like these onboarding frictions for end users so yeah congrats to immutable x and moonpay for this integration and last up is just a quick shout out here that immutablex i mean i mean immutable company are advertising for 30 plus business development and customer service managers at all levels 30 plus so if you're interested in a job in crypto and you think you've got what it takes to either be a business development person or a customer service manager person go check this out this will be linked in the youtube description go apply to this um definitely a huge opportunity here to work for one of the fastest growing kind

of companies and startups within the ethereum if not the crypto ecosystem that has you know a bunch of like mega partnerships already and has a product market fit that's amazing already i couldn't think of like a better team to work for right now um than than kind of like immutable in the bd consumer customer you know service management um you know what i actually say that pretty much all the l2s and i don't know how like i don't think any of the l2s are hiring this many people but i couldn't think of a better team to work for than any of the l2s right now but especially immutable if you're into like nfts and stuff like that so definitely go check this out it'll be linked in the youtube description but on that note i'm going to end it there 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 newsletter join the discord channel and i'll catch you all tomorrow thanks everyone