ethOS released, L2Bridge Risk Framework and more - The Daily Gwei Refuel #400 - Ethereum Updates

6 Jul 2022 · 29:52

Anthony Sassano covers Ethereum news as Sepolia's testnet merge approaches, with Goerli the last planned testnet merge before mainnet. He discusses ethOS, a crypto-native mobile operating system whose project says its first build has an onboard light node, but warns he has not inspected it and would not trust it with significant funds. Other topics are L2BEAT's proposed bridge-risk framework, Gitcoin's reported $9.4 million Q2 2022 value transfer, a tweet proposing ASIC rollup sequencers for validity proofs, and an Ethereum Foundation research AMA. He closes on Voyager's proposed recovery package after its Three Arrows Capital loan went unpaid, calling the lending stupid and recommending a hardware wallet.

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hello everyone and welcome to another episode of the delegate refuel where i cap the latest news and ethereum ecosystem i'm your host anthony sosano and today's the 6th of july 2022 all right everyone let's get into it so so the sapolia test net merge is happening very very soon it probably is in the middle of happening or already happened by the time you have watched this is of course going to be the live stream with the eighth stage crew and myself i'm sure by the time i think by the time this goes out it'll either be kind of like the end of the live stream or like half maybe even halfway through it or something like that um but you can obviously watch the recording back uh kind of like later on like after you've finished watching this or whatever uh and i'm super excited for it i mean this

is this is two thirds of the way there guys like to to main net merge after separation is girly uh and that's it and then we have main net like there's nothing else planned after that everything has gone through quite smoothly so far no major issues in terms of like merge related issues or consensus-related issues a lot of things seem to be just non-merge related and non-consensus-related which is what we want to see of course and there's more shadow forks happening i believe that shadow fork 8 went through quite smoothly i saw today i think there was only an issue with eragon nodes uh um or i think that they weren't synced or something like that i can't remember exactly what was said i read it in the um the core dev kind of like discord but i think there was maybe uh 10 15 of the

network which was the aragon nodes that were kind of like um not synced or something like that and then yeah there wasn't any big merge related issues or anything like that which is very awesome to see but yeah if you want to keep up to date with i guess like the sapolia test net uh merge and how it all went uh i guess like we'll know that it went through successfully or not uh you probably know by now by the time you're watching this but i'm sure there'll be postmortems and things like that and reports that come out uh after maybe like 12 to 24 hours after it happens i'm just super excited for it so i guess it's probably already happened by the time you watch this so hopefully it went well all right so xiaoweiwang here from the ethereum foundation has uploaded her

presentations of the ethereum layer one r d workshop at uh devconnect here so you can go to this forum here and the presentations covered the most important r d topics such as dank sharing pbs statelessness and more so this is the stuff that you want to be watching and and kind of like reading and kind of paying attention to if you want to get into like the deepest weeds of ethereum core protocol development this is the bleeding edge guys like this sort of stuff is is stuff that is years out right like it's just kind of like in research phase right now then obviously it'll move on keep iterating from there and then move on to the development phase and then obviously hopefully it goes into the network and kind of becomes part of the mainnet ethereum but this kind of like stuff includes you know

eip4844 which is proto-sharding i think sharing in general l2 resource pricing right um uh kind of like other things like uh statelessness as xiaohe wang mentioned and a bunch of other really really cool things here so if you're interested in kind of watching those talks and and checking out the slides and everything i'll link this in the description for you and you can check it out below alright so speaking of the ethereum foundation the ef research team will host a reddit ama on july 7th at 1 pm utc this is about 24 hours after the sepolia test net merge timing which i guess is the point right they they want to kind of like do this ama after a major kind of event has happened which was the sepolia test net merge so if you have questions definitely go to this

thread i'll link it in youtube description below and you can ask your questions in the thread here these amas are usually really really good and really really full of insight they've done a bunch of these you know as this is the eighth year they've done seven previous ones and they do them semi-regularly i think it happens maybe every on a kind of like every five to six month cadence here as you can see from from the dates and it's just a really good way to ask the kind of like people on the bleeding edge of ethereum any question that you would like and they're usually very very good about answering most of the questions if not all of them that are asked in the thread so definitely go and ask your questions and of course once the ama is complete and they've answered all the questions you

can go read all their answers which i'm sure will be packed full of alpha there's no i mean there's really no one kind of like i guess deeper in the weeds than the ethereum foundation research team in terms of kind of like ethereum called protocol development this is where it starts guys like it doesn't start the development phase obviously it starts at the research phase and everything has started there the proof of stake sharding aip1559 like everything that you've ever kind of like heard of every major upgrade has started in the research phase being iterated on over time and made its way into the network so if you paid attention since kind of like the research phase you got to basically see it evolve over time and see everything come together nicely which is actually really cool i've paid attention to pretty much every major upgrade since i

got into ethereum and from like the research side to the development side and it's really really awesome to see just how kind of i guess like how it all comes together right at the end of the day so yeah check out this ama ask your own questions if you have them i'll link it in the youtube description below all right so another i guess ethereum or web3 related uh mobile phone used today and i just saw this uh kind of like i guess a few hours ago and i hadn't heard of this before but basically this account called at ethereum phone has released a the first build of eth os which i guess stands for ethereum operating system and they're they're claiming that ethos is easy to install updates over the air features an onboard light node and you can install it on a pixel 3 or 5a i'm sure you i think you

can install this on basically any modern android phone but if you go to ethereumphone.org basically what you'll see here is kind of like the kind of link to install it yourself here so a mobile operating system built to be crypto native and this is kind of like the features that they that they're planning on kind of like having or adding so native dapps uh zero percent platform fees crypto widgets uh local light node i talked about light clients the other day and light nodes crypto native payments uh and an ens integration as well i'm sure among other features now what this is basically and like a whole new operating system for your phone obviously stuff like this can't really be installed on iphones i'm not even sure if like people even bother jailbreaking iphones these days it seems to be a much smaller

community than it once was but android it's uh it used to be called like rooting your android phone which was basically getting kind of like root access to the phone in order to upload or install your own operating system on it well that's exactly what um os is trying to do here which is i think pretty cool i discussed yesterday about you know polygon partnering with htc on their metaverse phone and obviously celina has their own phone initiative and things like that i think there is definitely going to be a battle here and and there's definitely going to be something that comes out of it as i mentioned yesterday i am way less bullish i'm actually pretty bearish on teams that are trying to do their own hardware um even if they're working with a third third party it's kind of like you know it's kind of like hard to do

hardware just generally but also i think that if you do software it means you can kind of like install it on the existing devices that are already out there the existing hardware that's already out there now obviously ethereum os is taking it to the extreme where you can install an entirely new os on the phone in order to get like a mobile i mean sorry crypto first mobile or crypto native mobile experience which i guess most people aren't going to do but like maybe they have more hardcore people will do and also just a note on that as well i haven't looked at this software i don't know anyone who has so i don't know if it's kind of like legit or if it has a back door in it or whatever so i wouldn't be storing any significant funds on this or anything just yet i

wouldn't be putting much money into it at all but if you do want to try it out you can of course but i guess um that's just like an aside to what i was just saying before but i think you know the software side of things is going to be much more impactful than the hardware side and it doesn't have to be an entirely new os it can be specific apps it can be specific integrations with existing software i mean android itself and and and it's and the and the popular flavors of of android like that the manufacturers put on such as samsung can embed their own crypto wallet and i'm pretty sure samsung did at one point i'm not sure what happened with that uh and same with kind of like apple they can embed things into apple pay i think they did or

they're looking at it they can embed things directly into the iphone because the iphone has a uh so basically what the iphone has is essentially what kind of like a hardware wallet has where it has a separate kind of um chip for all your i guess passwords and authentication and things like that so you can technically have a private key that lives on that chip and no one would be able to see that and you'll be able to use your mobile device as kind of like a web3 wallet like natively without having to install a different kind of like wallet software on it so all that sorts of stuff is really cool but again obviously it relies on apple integrating that at the ios level and it would require one of the manufacturers or android itself doing it on the on the um kind of like

os level or you could install ethos and it's all there for you and the good cool thing about android is that you can install these custom os's and still have access to the app store like the google play store you can still install and still install the apps from it the only issue is that you know the compatibility issues between these new os and the apps that you install and things like that so that's definitely a potential blocker there but still cool to see people experimenting with this i mean this sort of stuff has been talked about for a while now like i like i don't have to be five or six years at this point in terms of having like a web 3 phone or web 3 operating system and there's been various attempts over time and i think it really comes down to the fact that we

just need more experiments in the ecosystem we just need more people kind of i guess like giving it a go but i think that the success is if it's ever if if there's going to be success here it's just going to be seen on the software layer i don't think there's going to be much success on the on the kind of like hardware layer because as i described yesterday or as i explained yesterday the hardware game is like totally different to the software game it's it's it's very very much very very uh hard and not just hard from a kind of like a supply chain perspective but also just building the network effect breaking even you know cost efficiency all that stuff that i that i mentioned yesterday there but i just wanted to kind of like highlight this today because i thought it was interesting and as i said you can

go install this i mean you could install this on some just like cheap android phone if you just wanted to play around with it if you didn't want to screw around with your own android phone and replace your existing os you can essentially just install this on a really cheap android phone that you could probably get off amazon or ebay or something like that and play around with it or i think you could even install it on like an emulator an android emulator on on your pc as well if you wanted to play around with it but as i said i wouldn't be using this as a daily driver yet and i also wouldn't be storing any significant amount of money in this because just can't trust it at this point because i just saw it i don't know much about it so i can't be recommending

it to to you guys yet but i just thought it was interesting to to see that this is out there all right so bartek from the l2 beat team has published uh a proposal on the l2 beat forum for a bridge at risk framework so they obviously want to get community feedback on this framework and it's been something that they've been working on for quite a while now i remember talking about it when they were teasing it but basically they want to do what they did for our layer twos in general on l2 beats for bridges in terms of getting a risk framework up and running making users aware of kind of the trade-offs of each bridge how they work what the risks are you know are they admin keys are they centralized controls all these sorts of stuff and i think it's an awesome effort that needs to kind of

like be done because obviously bridges are very very popular these days and they're only getting more popular as time goes on but not all bridges are created equal pretty much all of them have major differences between each other and i think people some people kind of like equate bridges with each other like oh you know this bridge lets me do this and this bridge lets me do do this as well oh they must be the same thing when in reality different bridges work in different ways like i've spoken extensively about bridges before right there's kind of like cross chain uh or cross alto exchanges which act as kind of like bridges and then there's just simply kind of like sending it across and um there's kind of like a system that just like signs the transactions and issues you ious on different chains and they

may be controlled by multi-sigs and stuff like that so there are various different bridge designs out there uh and that's i think what the l2 bridge risk framework wants to do is that they want to centralize centralize they want to centralize the information around all these bridges into one easy to digest kind of like a resource for people so that people know exactly what they're kind of like getting into and you can actually see the different kind of like messaging bridges they call them here um you know in more detail such as kind of like light client verifying external validator set optimistic validation and hybrid so this post itself is actually pretty informative if you want to learn about a learn more about bridges i would highly recommend checking it out but also get involved with the conversation if you have any kind of like um

any kind of uh uh thoughts on this as well and actually i didn't i didn't see this just before but there seems to be a table here with all of the bridges or at least all the known bridges and kind of like what they're using for verification their mechanism and the trusted entities and the trust assumptions this is really cool this is exactly what the framework will end up looking like probably in a nicer format but essentially what you see on my screen here where you see different kind of bridges such as you know the binance smart chain bridge uh from ethereum to bsc is is verification is done externally it's lock and mint which means lock it on ethereum and you get issued an iou or minted an iou on bsc it has an external validator set that you have to trust which is the bsc

validator sets uh and then the same is true for a lot of these things here and then you can see kind of like these generalized bridges that we've used i just hop and connect uh verification is done locally on hop uh mechanism is liquidity providers so it's that kind of decentralized exchange that i was talking about and the trusted entities is obviously liquidity here and you can see all the different ones i'm not going to read through them all but this is i think a really really cool little table here that will actually save you a lot of time and effort and and worry kind of trying to kind of like figure out what the bridge is how they're secured what you know what the risk is all that sort of stuff so i can't wait to see this live on the l2b website i think this is

going to be an amazing resource for people just like i think that the l2b website in general is an amazing resource for people because it lets you know the risks and i talk about the risks a lot on the refuel around everything not just decentralized things not just d5 but obviously c5 and centralized services and stuff like that like at the end of the day i wouldn't be putting any significant amount of money into something that i didn't know how it worked i used to do it when i was more of a cowboys in defy summer like i was a bit harder and looser there but i've definitely kind of like matured since then and definitely taken risk a lot more seriously and now when i look at something i kind of like hesitate i'm like do i really want to put my money into this thing like how

much do i trust it and it's you know i'm not kind of like aping my funds into fresh yield farms anymore not that there really is anything like that at the moment but just generally i'm not doing that like i'll go for my if i'm doing something i'll put it into a protocol that i know is kind of very secure been around for a while uh has a team that's not going to rug or anything like that such as kind of like uni-swap or maker or curve compound are there you know all the popular ones right those are the kind of things that i would probably put my money into uh if i if i was going to use something like defile and chain but there are a lot of stuff out there that i just wouldn't touch and especially when it comes to bridges as well i don't

really like bridging into different things and bridging out of it using these third-party bridges at this stage just because of the fact that they're very early there's still risks involved um and if i was doing a significant value transfer then i definitely would not be using any bridge like if i was going from ethereum layer one to optimism and i wanted to transfer significant is relative like it you know obviously a thousand dollars is more significant to some person than than other people but say i wanted to transfer a 10 000 or something to the optimism from ethereum layer one i would personally go through the optimism bridge itself uh the bridge contract i wouldn't go through one of these third parties and same is true for going back now i know there's that seven day delay when you go through the um the

kind of like natural bridge there but i would account for that sorry the native bridge there but i would account for that personally and it just depends obviously as i said the amount is relative uh but these bridges will become more secure over time they'll become more trustless they'll become they'll have less centralized points of failure but we're not there yet obviously all this stuff is very early and that's why we need things like the bridge risk framework here in order to enable users to know exactly what the risks are that they're taking so check this out i'll link it in the description below so awoke shared some really cool estates here from git coin so in q2 of 2022 git coin facilitated for 9.4 million dollars in a value transfer across a bunch of different categories here bounties tips grants kudos ads and ecosystem now

obviously the top two is uh kind of like ground grants and uh and i think tips these colors are kind of like weird here it's either tips or bounties uh these colors are all very similar on my screen it's it's kind of like weird to see but um grants obviously has accounted for like the major i guess like revenue of of git coin uh or i guess like the main kind of like value transfer and say revenue value transfer of bitcoin for a long time now but it seems that i think that's tips because it's i think bounties is in is in a darker color here but it seems like i i don't know for sure but it seems that tips or bounties is accounting for about half and grants is accounting for about half now as well which is cool i mean it means there's more diversity in

the value transfer here on gitcoin it's not just all centralized in grants we obviously don't want it to just be mostly grants we want bitcoin to be more than than than the ground surrounds uh sorry then the grants i think the grants product in general we want git coin to fund open source software as much as it can and you can see here in total there's been 65 million dollars of funding for open source software i mean that's huge guys like there like open source software is usually something that gets very very underfunded or not funded at all and there are many many instances of very very popular open source products and open source software products and and um and kind of like a code in general that has been used by major companies you know billion trillion dollar companies and these companies don't actually pay

anything and don't maintain these sorts of things and don't kind of like pay the people that are maintaining this software they just use it because it's something very popular to use uh and then and then what happens up happening is that the the developers or the maintainers of that software may be like well i don't want to maintain this anymore like i have no obligation to and then uh some people kind of like or some companies like oh crap we actually need this we really need this and then they kind of like have their own moment whereas doing a more sustainable kind of like way of funding open source software which is what git coin's mission is he's definitely much much much better because it basically pays people for doing the work and for maintaining things and for and kind of rewarding them for their important work the things

that people care about uh you know there's a lot of kind of like uh teams a lot of projects on git coin grants these days but i think the classic example is the ethereum core teams right they get money from various different sources but generally they need to kind of like find their own funding and grants is one way to do that and they're providing a ton of value for the network like they're building the things that drive val value directly to each i mean they built one five five nine that's driving direct value directly to e they're doing the merge which is obviously very bullish for eth so they should be paid for their work in and and i think honestly like that payment could come from the ethereum foundation which already pays them and other entities but i think it's really cool that

individuals get to have an impact here especially in the matching rounds where they can basically give like one to ten dollars and have that matched a lot more and have their donation go a lot further than it otherwise would have to public you know open source software here so very very cool to see get coin having such amazing growth uh i hope it continues all right so a tweet from paulina today i don't think i've um talked about polynomial in a little while i remember there was a time where i think for like a whole week on every refuel i had pioneer tweets up but uh they're not tweeting as much these days but whenever they do it's always a banger so they put out another one today where they said end game evm vm asics for roll-up sequences orders of magnitude faster versus any multi-threaded virtual

machine stateless and expiring multiple sequences composing to a single validity proof roll-up and users and validators verify validity proofs on cpu without requiring requiring recomputation on asics okay this sort of stuff is like getting into the very nitty gritty of uh i guess like layer twos or validity proof roll ups as kind of like paulina calls them here but essentially what they are saying is that the the end game like long into the future or maybe not too long into the future but kind of like over the longer term we definitely want to see asics repurposed to become roll-up sequences so what they would do as a roll-up sequencer is that they kind of like run these proofs you know the most expensive part and most time-consuming part of a

validity proof roll-up or a zk roll up is the proving costs and the proving time now to get that down you can use things like asics uh the application specific integrated circuits which is what is used obviously in proof of work today but using them uh as a sequencer doesn't require you to burn enormous amounts of electricity because it's a different thing in period of work you're basically uh competing in like a worldwide lottery and guessing kind of and like hashing to guess the the right kind of like uh uh uh right uh get guess the right guess i guess so guess the right guy the right thing that you need for to kind of like produce a block there uh but basically as a as a sequencer it's not doing any of that sort of stuff it's just processing the kind of like um transactions and and and

running the proof and all that sort of stuff there so obviously there's no massive electricity costs here so i think that's really cool that we can repurpose asics hopefully or kind of like have the asic manufacturers go kind of build asic's four zeros four validity proof roll-ups and then doing multiple sequences composing to a single validity proof roll-up would be very cool as well and then use users and validators verify the validity proofs on their own cpu without re without requiring recomputation on asic so basically the asic does all the heavy lifting and then the cpu from any device smartphone laptop pc doesn't matter what it is would be able to verify the validity of these proofs so verify that they're correct uh without having to do the whole computation themselves without

having to do the intensive work themselves so as i said this sort of stuff is very technical down in the weeds like i'm not going to say i'm an expert on this far from it but i think this is stuff that you can look into if you're into the hardware side of crypto if you want to know what the future of asics looks like especially in the ethereum ecosystem obviously asic miners are still going to exist within bitcoin they're not changing for proof of work uh for a while if ever i say for a while because i do think there's a reality where they do have a proof of stake uh bitcoin it may be a fork it may not be the bitcoin but uh i i i i think that it could happen eventually but just generally asics are still going to be bitcoin you know a bitcoin thing is

going to be for bitcoin proof of work but they're also going to be a roll-up thing but specifically with zk roll ups that have very high proving costs and take a long time by putting an asset to it we could get those costs dramatically down and the time also down dramatically there so yeah that's it on that one you can go check out the thread i think there's not really many replies here but there are there's another thread linked here about recursive snarks if you wanted to read that as well all right so uh voyage are the troubled kind of like crypto services or centralized crypto service provider um today uh kind of like put out a threat or at least the ceo stephen or stephanie put out a thread talking about what the recovery plan is for voyager so there's one tweet in

particular that i wanted to focus on and for those of you who don't know voyager basically bankrupted themselves by lending out i think 600 million or something to three rs capital obviously didn't get that paid back because three hours capital blew themselves up and i think voyager has like 250 million dollars worth of assets left so unfortunately customers took the hit here and i i quote tweeted this tweet and this is the tweet that stefan or stephen put out here where he says customers with crypto in their accounts will receive in exchange a combination of the crypto in their accounts proceeds from the three hours capital recovery common shares in the newly reorganized company and voyager tokens so basically the the loss is being socialized to the customers of voyager which really really sucks like and that's why i said like i

feel very sorry for voyager customers this is up just another reminder to not leave any funds you care about on centralized exchanges services uh don't do it guys like honestly not your keys not your coins i know that's been around forever but it's so true like if you had left your funds in voyager you are now basically getting this i don't know what another word for this orgy of kind of like crap basically like you get some of the crypto in your account you get some of the proceeds from the vrs capital recovery if that ever comes you get common shares in the newly reorganized company which would probably not be worth very much and you get some voyager tokens which again aren't worth very much because they're all dumped because of the fact that the news came out the voyager kind of like

screwed themselves i really hate this and like the reason i hate this is because at the end of the day like customers and users most of if not all of them and pretty much all of them are innocent they shouldn't be taking the i guess like a brunt of this so they shouldn't be taking the punishment here but the problem is that voyager literally doesn't have the money to cover all their obligations to their customers so they have to do this so that's why don't keep any significant funds on these centralized services or exchanges there is a spectrum here obviously voyager is very different to something like a coin base but at the end of the day like it doesn't matter who it is if you don't control your keys you don't control your coins like it doesn't matter how trustworthy the the the person is or the

organization is that hold your crypto for you that doesn't matter at all like unless you control your own fate you're at the whims of them it's the same is true for like banks and stuff too like if you put your money in a bank and there's been instances of this around the world put your money in a bank and the bank starts having troubles or the economy or the government starts having troubles or there's like rampant inflation or there's a bank run like there's no guarantee you have access to your you'll get access to your funds right so it's not just crypto thing it's just a general thing and we have this beautiful thing of self self sovereignty or being able to kind of hold your own money and being able to self custody and people take take that for granted people put their money into

their centralized services to earn some yield they're like oh i can earn like 10 on my stable coins or ten percent on my or five percent on my ethan bitcoin and it's like okay well yeah you can earn that but then you have a hundred percent chance of risk of custodial risk which is basically this this kind of like organization can uh go run away with your funds go bankrupt get hacked any of that sort of stuff whereas with self-custody i don't actually think it's very it's difficult to self-custody at all i mean like there are different ways to do it even just self-custodying on a hot wallet is probably better than putting it on a centralized exchange uh at least most of these centralized exchanges and services but again it is a spectrum i mean hot wallets themselves are inherently insecure too so i'm not

trying to say that they're secure but in my mind like uh most of the centralized exchanges and services are more risky than that and that's saying something right if it's more risky than a hot wallet then it must be very very risky whereas there's obviously cold wallets and cold storage and hardware wallets and all that sorts of stuff that you can do as well a little bit more complicated for the everyday user but like come on like does it like if you can't be bothered learning how to use a hardware wallet or learning how to kind of like get your funds onto a hardware wallet and you have a significant amount of money in crypto well then honestly i just think that's that's pure laziness because if you don't care enough to secure your funds if you're fine risking your funds on these centralized services

that's totally your decision but at the end of the day if you just took a little bit of time to learn how to self-custody and learn the importance of that you would have saved you would potentially save yourself so much heartache down the line so i think in the future i really hope that more people kind of like heed these warnings more people kind of like realize these sorts of stuff maybe they won't probably they won't and i think really at the end of the day what's coming to these centralized exchanges and services is extremely harsh regulation it's probably going to be just as harsh as what banks have if not harsher than that and that's what's going to kind of like curb this sort of stuff there's going to be obviously audits and stuff there's going to be regulations applied to these companies and all that sorts of stuff that are

there as well but just generally i would prefer if we just kind of like had people custody their own funds and i controlled their own keys but i know that that may not be a scalable way for mass adoption either but it can be if we get better solutions obviously something like a smart contract well that arjun's working on where you can have like um a social recovery and stuff like that like that definitely is getting us better towards the path of enabling more and more people to self-custody and for them to do it easily but just in general i mean if you're listening to the refuel like you're you're in the weights to me all the ray field listeners and watches are in the weeds of crypto ethereum everything that has to do with it if you have any significant amount of money not in a hardware wallet like just

literally go buy one right now like go buy a lattice one go buy a ledger whatever hardware wallet you want um go buy one and then move your crypto to it and make sure you secure it obviously properly and secure your seed phrase properly and everything like that because like it starts with us guys like it starts with the enthusiast at the end of the day and then we can kind of like put that message out there and and educate other people about it as well but yeah very i feel very sorry as i said for voyager customers here it was avoidable for them if they didn't have their funds there but unfortunately voyager just doesn't have the money to pay everyone back so there's really nothing they can do um uh at the end of the day but they are trying to push some

blame onto kind of three rs capital here with this tweet which i thought was funny as well but they're solely to blame here voyager the company for lending out all that money in an under collateralized fashion or an uncollateralized fashion two three hours capital was absolute stupidity really really dumb uh not even just in hindsight just generally even if there's capital was legit lending at that much money to of your balance sheet to uh and in an uncollateralized way to a kind of like um a fund that you know trades it is just stupid in my eyes but i think that was just kind of like one of the ways that voyager was uh was kind of like offering the yield to their customers because three ios capital would have been like oh yeah yeah we'll pay you you know this amount of kind of

like interest on this and then they kind of like pass that to their customers and promised all this yield and all that kind of like other stuff but yeah not pretty i feel sorry for people there but but yeah i think that's it for for that one then i think that's it for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone