Gitcoin Grants Round 9 live, Ethereum culture & more - The Daily Gwei Refuel #75 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel where i recap the latest news in the ethereum ecosystem i'm your host anthony cesano and today is the 11th of march 2021 right everyone let's get right into it so get coin grants round 9 is finally live i did warn you all that i would be shilling the hell out of this when it went live because i really want you to all go and donate uh on on here so for those who don't know uh get coin is a platform for basically funding open source work and the bitcoin grants platform goes beyond that and basically lets you donate to this open source work you know it goes beyond bounties and things like that lets you donate to different grants on here right um and the thing about the matching rounds and what makes them really special

is that they're actually um uh matched by ecosystem participants so you can see here at the top there's 500 000 in matching up for grabs between you know different categories here on the left you can see infrastructure community dapps nfts and east asia here so you know badger dao gave a lot this round which is really really cool to see you know they're a d5 project that launched just i mean not even that long ago maybe two or three months ago the ethereum foundation you know and then a bunch of other kind of ecosystem projects and even like a centralized exchange like kraken which i thought was really really cool to see as well but anyway beyond that um the way the matching works is called quadratic matching so the more people who donate to your grant or like if you have a

up here the more contributors you have um you know and and depending on like the values that they contribute uh so if they only contribute one die five dial ten die or whatever it gets matched quadratically and it can get matched up to a really high amount here so if i was just to click into one random grant here i can show you an example of this so this is nevermind it's an eighth one client so if you were to contribute one dollars to one dollar sorry to never mind right now that would be matched by 43 dollars from that matching pool so it basically means that you have a 43x impact on your donation for this project and this is why people uh really love this kind of like idea and really feel uh you know empowered whenever they can actually donate to these projects because you know you

don't have to go and like donate hundreds of kind of uh dollars to each project that you really love you just have to donate like one maybe five dollars maybe ten dollars and that'll get matched you know you can even see here that a hundred dollar contribution will be matched uh by 239 dollars here so your your dollar goes a long way during these matching rounds and that's why people get so excited about it and you know you can support basically anything you want there's no obligation to support one thing over another you can maybe just support infrastructure projects if you want to just do that you can support community projects which is what uh what the daily grade falls under and like what ethub and and bankless and all that fall under uh then there's like dapps which are pretty self-explanatory nft self-explanatory and

they have like i think a bonus round uh kind of like each each round or a bonus category where they kind of like pick something that they feel is underrepresented in the community and and kind of credit category for that so this rounds east asia i think last round was was covered relief um or maybe the round before that and there's been different kind of categories there so that's another cool feature but basically um donating is really easy you can do it from your obviously from your your metamask your own ethereum wallet um but what's even better about this is that you can do it via layer 2. so get coins integrated with this technology called zk sync which is a zk roll up living on layer 2 and it reduces transaction costs dramatically so you can basically load up your zk sync wallet with some funds

which unfortunately does incur like a one-time kind of hefty transaction fee on because you're doing it on ethereum layer one but then from there all your donations are like super cheap and they go to um the same wallet and the the kind of like grants the the grant owners can claim that money in the zk sync wallet which is really really cool so yeah i highly encourage you all to go and donate even if you can only give like 10 die go give like one diet to like a bunch of projects and it'll get matched that's the power of this stuff and of course you know the daily way has a bitcoin grant and i would uh you know it would mean the world to me if you donated but you don't need to there's no obligation um you know all the content is free and

always will be uh but if you do appreciate everything that i'm doing here um yeah you can go donate to me on here this that's the only place really unless you send like i guess money to cecil.eith but you know doing it through through get coin i think is better because you're using like a legit platform here and you can get your donation matched as well uh but that yeah that really is i mean i get questions all the time like how to support me uh that's it right just just donate on get coin that's that's that's literally it and that's enough um outside of that i i don't want uh you know you guys just throwing don whatever at me i i prefer to you know just keep it keep it all um all free for you guys so yeah definitely go check that out and don't

just like stop um you know at your favorite projects right that you already know definitely go have a look through all the grants and see projects and see what they're up to and see what they're doing and donate to them as well if you think what they're doing is valuable because there's a lot of things that like i in particular don't use but i know what they're doing is valuable for a set of people so i still donate to that so don't just get caught up with the things that you're familiar with go check out other things as well and you know on that note um i've i've got here actually a cut what i call sassel's cart of love which is basically a collection of grants that i'm going to donate to this round so there's 39 grants in here and i've just basically created this

because these are the things that you know i either use or i think are valuable to the ecosystem so if you're confused you can go check out this collection there's a bunch of other ones as well i mean i don't i'm not the only one there's uh there's there's there's plenty here there's an nft collection um there's uh you know token engineering i mean ethereum state media which is a funny little um collection actually because it's got basically all the um ethereum media in one so if you want to fund like you know the delegate ether bank list all that sort of stuff you can do that uh then yeah i mean there's collections for everything here it's it's pretty it's pretty dope but yeah uh i have 39 grants in mind and the best thing about a collection is that you can donate to all i guess

like all of the um the grants at once you can add my collection to your cart and it'll donate to to basically all of it at once actually if i open it up again here i can show you um but you don't have to do that right um this is my view of it like i can remove grants from the cart obviously but you can basically just scroll through and add it to your own car and you don't have to add the whole collection so you can add the whole collection to a cart here or just scroll through and add individual ones so you know that might be better like you know you might add the whole collection to the car that has 39 grands in it and maybe there's a grant that you don't want to fund in here right so definitely just check through what i've

got here before like just clicking the add you know donate to all button just in case but i obviously have created a pretty high quality list here that i actually think is kind of like worth donating to i haven't just like chucked anything in here um but don't just limit yourself to this either there's plenty of other grants on there that you can go and check out as well but anyway i will stop there i've shielded enough but i will keep chilling it because you i i i expect you all to go and donate if you can like obviously you're not forced to but if you can as i said you only need to spare a little bit of money because it'll get matched and you know the more users get coin has the better because it shows like the whole ecosystem how much demand there is here for these

sorts of things so i always encourage people to use these tools so yeah definitely go go check that out so david hoffman had a really interesting piece uh today in the bankless newsletter called the digital culture revolution uh so it's quite a bit of a a bit of a read here um you know i can scroll down and like show you how long of a read it is but very well worth it he does have a summary at the top here you can see um basically you know the seven key points that he's hit on here now the reason i wanted to cover this piece is because i spoke about maybe yesterday or another refuel about how the different generations in kind of like crypto uh are forming right and not just within crypto within like the world right because you have

the boomers right you have the gen x you have millennials slash gen y you have gen z or zoomers as they're known and then it was a tweet that said like the the last gen was like generation e or generation ethereum which i thought was really cool and i think that that might have inspired this article from from david as well because he kind of like hits on a lot of the points that i thought about too but basically the gist is is that people like me you know the millennials the zoomers i mean i'm 28 so obviously millennial um we feel super disenfranchised with the old world right we don't have any of the wealth from the old world you know all of the the kind of like property and the stocks and everything like all of that if you look at the metrics

it's all owned by by boomers and gen x at the end of the day majority boomers and that's because the boomers were like the generation that came after the war right that's why they called the baby boomers because there was like a you know a lot of people had babies after the war because you know obviously a lot of people died but um that you know that happened and they grew up and they they kind of like um the economy recovered from there and they got the spoils of that essentially right so you know and because of that they've held on to that wealth and now they're they're old right they're very you know the older generations tend to be very kind of like conservative about things they want to kind of hold on to the wealth they've made and i guess that's fair enough but it it

leads to kind of perverse incentives where the the older generations don't have the same kind of i guess uh you know goals for the future as the younger generations do obviously because they're in a very different stage of their life i mean if you're 80 years old right you don't know what's going to happen in in the next year let alone the next 10 years but if you're like 20 or 30 you can have a pretty good idea that you know barring something bad happens that you're gonna you're gonna live you know and you're gonna you know keep i guess like doing what you're doing with it whether it be your career with your family or whatever so there's like totally different kind of like incentives there of what to do and that's why you typically see um you know the the older generations will vote for like the more conservative

party right because they don't want things to change whereas the young people do want things to change but they don't have the power to change things because they don't have the representation right they don't have the wealth they're starting from essentially zero and now we've gotten to a point where the inequality in the in the world is so bad and i'm not gonna go a lecture about this i just think it's a it's it's it's something to keep in mind and is a big reason why i think crypto is taking off because crypto is a refuge right ethereum bitcoin whatever else is a refuge for people and the i think the number one reason why it is a refuge is because the older people don't understand it right they they they don't really understand technology they just got i mean they were the late adopters

for technology right for like smartphones in the internet in general and everything like that very late adopters whereas you know the young people were the earliest adopters and now you know if you're born into the world right now you basically grow up with like an ipad or something right or a smartphone and you you know from the get-go you are exposed to technology and there is like there's no in between like you have to be exposed to technology because our world runs on it um like like uh you know whether it be internet services or at school right or anything like that so there's that and then um you know because of that like a lot of the early adopters to crypto and we're still early adopters today we're all young people as well so this kind of and david's article here he goes on

about how this forms a new culture right and this is like a cultural kind of revolution as he says the digital culture revolution where the young people we don't have a say in the old world anymore we don't we can't change much there the institutions in the old world don't serve us right we are we are not part of um of that kind of arena but the digital ones do right like how many times can you just go into a discord channel right of this kind of quote-unquote institution whether it be like a dao or a d5 app or whatever start talking to people become part of the community buy some tokens and have a real voice right and and be part of this kind of revolution that not many people are part of yet uh you you know we just don't have that option in the real world

and i think there's this dramatic kind of like uh i guess shift of wealth happening now where you know the the late stage adopters to this technology will again be the boomers be gen x and all that sort of stuff and they'll come in later but by that point you know the technology would have gone mainstream already so the earl the early adopters this time and i guess you could you could say that the people getting the most out of i guess the the ethereum economy and the crypto economy is going to be the young people and you know we all kind of know that on some level right we you know there's jokes all the time on twitter about they're like you know i mean it's funny because boomers are like the most demonized generation ever um and i don't think that's without reason

but at the same time like a lot of them aren't doing it like you know i guess like on purpose they didn't go out in the world and say i'm going to get all the wealth and then i'm going to screw over the young people it's just the way it happened and the circumstances and obviously at this point you know they don't want to give up that wealth and power and to be fair i mean if i was that like that i probably wouldn't want to give it up either because you know i would think to myself well it's my wealth that i kind of like got over my lifetime you know i deserve to keep it why should i have to like distribute it maybe i would think like that i don't know um but because of that there's that perverseness right and there's that kind

of david says in here it's like learned helplessness where young people kind of feel like well i'm never going to be able to get a leg up in the world you know i don't have any of the money my wage is stagnant you know i don't have any of the assets they're all kind of like in this massive bubble there's money printing going on all this sort of stuff and then you have the refuge in crypto and that's why we're attracting so many young people into crypto right now at least one of the reasons and then david you know later in his post goes on to say that these new kind of social institutions being kind of constructed within crypto by these young people lead to uh uh basically um new things like you know nft is taking off right and new ideas kind of taking off and

you know nfts like i mean art and like fine art and things like that exist in the the real world right have existed for ages but all of that again is al is owned by the older generation right because they have all the wealth but within crypto and like i mean i'm going to talk about it a little bit later about a crypto punk that sold today for a lot but basically like you know if you were an early adopter you basically got like all these crypto plunks for like basically nothing and now you have all the wealth of crypto punks right because the later people who came in now value that so there's that to it which is um which is really really important i think and then basically uh david ends the post by saying you know this is a cultural renaissance and you this this is something i've

spoken about as well um on on the refuel that there has been many different periods with throughout history and i mean i'm not a history expert i won't be able to name them all but there are there are specific periods throughout history where you know certain nation states were founded and formed right or certain nation states fell and it kind of changed the face of like the global you know economy the global kind of social institutions uh and and kind of like i guess to an extent the the global kind of um wealth right and i think crypto is is that right the the the the cultural renaissance within crypto is going to absolutely change the world like there's no doubt about and who's already having a big big impact on the world um and i think ethereum is definitely at the center of

that right so yeah i mean i i guess like i could go on about this for a long time it's something that's dear to my heart i know a lot to you as well because i know that a lot of you watching this are probably on the younger side so you definitely can like uh sympathize with what i'm saying here but i highly recommend going and reading the whole piece i mean he's got a few funny memes in here i think and you know when i say funny i mean like you know kind of um dark way because they're like memes about like depression and stuff because he talks about how you know a lot of this kind of like learned helplessness from the younger generations um that has put like uh the pressure that they feel from society has made like depression rates go up a

lot because they just feel kind of like stuck right you you feel stuck and you don't know what to do you don't know if life's ever going to get better you're not looking forward to anything um and you just feel like helpless right so yeah i mean there's a few memes in here and then he goes into detail about what i was just talking about give some stats around the how the wealth being held by boomers i mean as you can see here look at that boomers are in the the the dark blue i guess here um and then gen x in the in the pink uh and then uh the silent generation which is before the baby boomers have you'd think that would have more wealth because they're like even older but they don't because they they were basically um part of like when the when the one in

world war ii was happening right so the boomers were literally born at like the exact um right time and that's why they have kind of like all the wealth here and look at look at millennials like that's i mean this isn't even gen z like gen z is just now entering kind of like adulthood so that's that's fair but millennials have like hardly any wealth here right and you know who knows what that's going to look like in 50 years i mean i i actually think that in 50 years because of crypto we're going to see that like completely change and a lot of the wealth is going to be there um and then yeah i mean he goes through and gives a bunch of different stats there and talks about in much more in detail about what i was just talking to you guys about so definitely go give

this piece a read i mean if you haven't subscribed to bank list yet i mean like at this point like you should like it is it is paid for the full version but there is a free version as well but i mean like you probably all know of bankless by now but if you haven't subscribed yet i highly recommend it you get like i mean this isn't like an advertisement for bankless or anything but you get like so much information from from from david and ryan uh here um and they've been doing it for quite a while now and you know if you don't even want to read this article you can actually watch and listen to it on youtube you know how cool is that right you don't have to like read it you can just like listen to it on a podcast or

something like that uh while you're on a walk or something so yeah that's really cool as well but uh yeah a really really good article from david here today he's a brilliant writer in general so kudos to him uh for for kind of putting this out there and apparently actually i didn't notice this before there's an nft available for this image i actually thought this image was really cool and there's an nft available and wearable here wants to load up i wonder how much it's going for 0.2 ethan uh it's bidding right now and there's a bid from from jordan lyle from uh from he's actually from meme you know that that the token meme um uh or the like the nft token thing so that's pretty cool but yeah go give this piece a read so starkware is the uh just another layer two that has

kind of entered the fast exit arena from uh uh from from layer two so i mean i spoke about yesterday about how there's like gonna be an optimism bridge that maker dow is put out there to go from layer one uh layer two to layer one really quickly uh uh arbor trim has also done one that's using connect uh technology and starkware uh last night just after i put out the other refuel or just after i recorded it announced these kind of trustless exits from from l2 and they explain how they kind of do it here with something called conditional transfers um and you know how they kind of like enable these fast withdrawals um it's already running on ethereum mainnet today it powers diversify and dydx which is really really cool so definitely give this a read it i

don't think it's that technical for me but it does get a little bit technical but if you want to if you want to kind of like learn how it works definitely go read the full post here but i mean i spoke about this yesterday and i think i mean fast withdrawals are cool and everything and i think it's needed and if it can be done with like low overhead and kind of like uh like in a trustless way then we should do it but i think the more interesting stuff is like fast kind of like withdraws from layer two to layer two right or layer two to like side channel layer two to like um a centralized exchange because as i said yesterday the end state is everyone's just gonna live in in layer two land right going to layer ones is gonna be too

expensive like i think the expectation should be set that layer one is probably always going to be expensive because there's just a finite amount of space there because ethereum is trying to be decentralized and as secure as possible layer one is not going to be infinitely scalable what layer one will become is basically a security chain for layer two and also like a kind of chain for like whales i guess that don't care about the fees and that's fine i think because users are still going to get the same experience at layer 2 with the same security and the same decentralization without the costs and you know i've talked about this a lot but i'm going to keep talking about it because people are still sleeping on layer 2 and what what's coming for for ethereum especially in march as i've said you know optimism of course is is the most hyped

up thing here and i was actually thinking about it today how hype would it be if unisop v3 launched on layer 1 and on layer 2 with optimism when optimism went live like that alone would immediately change the narrative from ethereum can't scale to holy ethereum can scale right like immediately i i i reckon it would be an overnight change because uni swap is the most used d5 app by far nothing even comes close to uni swap in terms of brand awareness users volume you know there are other things like sushi swap and stuff but they're still only doing a third of the volume and stuff and their their brand awareness is nowhere near in uni swap um from from what i've seen

in terms of like the the general crypto audience not just within ethereum excuse me um so yeah if that happened overnight narrative change and i think that would be extremely bullish for you know ethereum in general and obviously like the eth price uh not financial advice there but you know i'm stacking eighth at all price levels because we just have not gotten to where we want to be yet i mean i i wrote about this in the delegate newsletter today the growth prospects here are just insane look how much growth we've had in d5 just with um layer 1 ethereum which is obviously high fees and and unscalable right now um but when we do scale imagine just imagine the volumes that are going to come in the the the kind of like tvl that we're going to see i can't even like imagine what it's going to be like but

yeah i mean i i won't go go on too much too much about that but i think you know these kind of like fast withdrawals are just one way that we're going to kind of like um help that along as well during the transition from layer one to layer two so joseph de long put out an interesting tweet today uh and joseph delong is the cto at sushi uh sushi swap uh so basically he said why does ethereum attract so many prodigies i've met enough brilliant people under 18 working in ethereum protocols to see a pattern i think and i think it was mentioned in the comments that it's because of vitalik right now that's not saying that like ethereum is centralized around vitalik it very much isn't and i think vitalik is actually like a back seat kind of not driver he's just sitting in the back seat at this point

where he's working on e2 and stuff but uh he he doesn't really i mean he definitely doesn't control the chain or anything like that um he's just one voice and i think that's very powerful but i think he's still a leader right he's not a leader in the sense that he what he says goes but he's a leader in the sense that he's incredibly intelligent right he has incredible emotional intelligence on top of that he he he has incredible leadership skills um which is just uh you know insane and he is young himself right i think he's turned 27 this year um so that you know that's still very yeah and when he founded ethereum he was very very young i mean through him six years old he was like 21 or something like that and him even before that he was involved in bitcoin so in his teens

so that kind of story behind vitalik and his leadership and just his emotional intelligence where you know you don't see him getting into like silly fights on twitter like i do right you don't see him uh kind of like you know trashing other projects in in public you just see him heads down building all the time right um and i think that's very inspiring for young people you know young people always need like especially people in their teens always need someone to look up to right they always want someone to kind of like inspire them and kind of like follow in their footsteps and i think that's exactly what what vitalik is but on top of that and as i was just saying before with regards to david's article ethereum is really ushering in this cultural renaissance right this cultural revolution

where uh disenfranchised young people are able to come in make their mark like there's a there's a project called rari capital i'm pretty sure all the devs are like in their teens still right i don't know if any of them are over 20 i'm pretty sure they aren't and they're making a mark for themselves their project is worth like i think a hundred plus million dollars in market cap right now they're building real products um you know i i love following them on twitter because i see them tweeting about like layer two stuff and they're so hungry um to kind of get involved there but they're not the only ones there's so many young people building stuff in in d5 right now um and you know as joseph says here a lot of them are prodigies a lot of them are extremely smart and they want to work on hard problems

smart people don't like easy stuff right and that's why you know so many people have stuck with ethereum for so long because it's hard you know decentralized scaling is hard decentralized finance is hard right making sure it's secure making sure that it's um you know it's scalable it works right getting these new ideas that no one even thought of like flash loans for example was just incredible like just the concept of an amm uh was was coined by vitalik but but um hayden adams took took it around with her and then you know a lot of other teams did so as well but they're all still working on improving it and everything like that so you know these are mostly young people not to say that there's not older people in the community that have made their mark but so many young people and that's what you want

right you want the youngest and brightest people to come into the ecosystem and be the builders and as eric says here in reply he says this has pretty much been my entire investment thesis in eighth since 2014 i mean this has been my entire investment thesis in in eight since since early 2017 since i kind of discovered it because i saw the developer talent i saw how many people were building on it i saw like how many smart people were involved and i was just like holy crap like this is the center of talent ethereum is an economic nexus as i've talked about a lot but is also a nexus for talent and that is a major bull case for me when it comes to ethereum so yeah thanks uh thanks joseph for putting this tweet out it really got my brain kind of spinning here

so nick chong put out a tweet today saying roblox just closed its first trading session at a market cap of 38 billion now for those who don't know roblox corporation built makes video games uh their most popular video game by far which accounts for basically most of their market share is called roblox and it's basically like a hybrid between lego and minecraft and it's very very popular with with the younger crowd um but basically i get younger crowd being like early teens i would say or like even below that not not like the the people in their 20s but maybe some some play it as well but anyway and then you compare that to like the top ethereum based default coins and you know uni swap is obviously number one at 16 billion but the rest of them are five billion dollars or under so you're telling me

that um a video game company that only has one successful game right that has made most of their money um mind you it's very successful but it's worth 38 billion dollars so it's worth more than a lot of these apps that are building the future financial system right out of whack to me like completely out of whack to me so again not financial advice but you know this just screams to me like what's going on here this is either the market being like super inefficient which i believe it is or you know maybe or maybe we're all wrong about d5 which we we aren't like i'm spoiler we're not we're not wrong about d5 um and then you know he makes a joke here the future event of france versus a video game which one wins i mean this doesn't mean the future of france it's like finance but like some

people said france and it became a meme but you know we all know what's going to win right we all know that d5 is going to win i mean as i've said before it's not like if d5 it's like when d5 like when is d5 going to take over the whole system and it's going to happen faster than we all think i i think uh you know i've been blown away by how fast it's happened just not even just d5 like the nft space i'm like what the hell like three months ago no one really cared about nfts now it's like you know you've got major people outside of the crypto ecosystem coming into nft so pretty crazy stuff happening there but yeah a great tweet here from nick so superfluid announced that they've uh that they're a protocol uh basically for i guess like money

streams so like you might have heard of saylia before um uh that they do money streams as well but kind of superfluid uh is another project working on this and they've deployed on both the polygon and x-dire networks now i think this is because uh and why this is a priority for them because you can't really do like money streams in a in an economical way on layer one these days right because if you're streaming like a hundred dollars to someone and it costs them like fifty dollars to claim that then you know that's not very very efficient right um so it definitely makes sense for them to be on layer two uh you can read about them here if you haven't heard of this project before and read about what they're all doing and get involved and get building with it um there's a there's a full kind of blog

post here it'll be linked in the description for you guys but yeah really cool to see that uh more projects are embracing kind of like a more scalable ecosystem here so as i mentioned before a a very interesting sale happens today so this crypto punk sold for 7.5 million dollars and i know a lot what a lot of you are thinking this is a huge bubble right this is you know this is ridiculous who would pay 7.5 million dollars for a crypto punk well this is one of the rarest crypto punks if not the rarest um you know it's an alien punk it's got a smoking a pipe um and i'm not going to go on about why crypto punks are valuable because i've done that before but what i did want to discuss about this was the story behind it so this was sold

by uh figma's ceo um dylan dillingfield i think his name is and figma is like a a very popular design app where people can design you know different things and they're like wireframe and stuff like some of you may have used it or heard of it before but anyway he bought this um with his address and someone did some some kind of like uh i guess like archaeology here i don't know if it's a tweet down here but basically what happened is he bought a bunch of punks in like i think it was 2019 or like early 2019 for basically nothing he loaded up on all these punks and i think he has like 30 or 40 of them that he bought for maybe a few tens of thousands like maybe 20 or 30k or something and he's recently sold two uh one of them here the 7.5 million

dollar yeah so if i go to his address here you can basically see that uh you know if i go here to where he sold it from you can basically see how much punks he still owns and kind of like which ones he sold so he bought all these punks and these are the ones he still owns like he's still got a zombie which is which is pretty rare as well um i don't know if there's any offers being been put on that one but basically you can see down here he's already sold two so he sold this alien one for seven point four million dollars and an eight for one point four million dollars um and as i said he basically um just invested in these uh back in like 2019 and and kind of like bought them for for a very low price uh i

think yeah you can see here like this is how much he's kind of spent so very uh good uh kind of like return on investment here right and i wonder if anyone's kind of like offered him anything for for kind of like zombie punk no he they haven't really um but yeah so very crazy kind of stuff going on right now and i think you know as i've said before as i said just before i'm going to go through why crypto punks are valuable but i think you can't discount at this stage that they're becoming like a staple or have become a staple where people are willing to pay so much money for them because they really want to get their hands on them and there's not many out there there's only 10 000 punks you know in terms of alien punks there's there's kind of like not that many if i

click through here i think there's like nine alien punks yet basically nine alien punks and you know pretty much like you have to basically find the seller as well um and you can see the most recent sales here are like this was ridiculous seven point kind of four million and then one million here and the rest of them were sold like three years ago so you know pretty pretty crazy stuff happening here but yeah cool cool to see this i mean this is just going to make headlines bring more people into the space i always like seeing this sort of stuff but congratulations to dylan here on the sale that's an incredible investment so loopring put out this post today uh basically describing how loop ring is unique in the ethereum layer 2 kind of scaling space and on in the post they give a summary of

what they are so loopring is an app-specific zk roll-up protocol a relayer and an l2 non-custodial exchange a smart wallet but eventually it will just be all be loop ring where kid users can use trade grow and store their assets um and then basically goes on to say what loop ring isn't so liberating is not a generalized zk roll up that is seeking to support all types of different protocols right this is a purpose-built zk roll up just for the looping syst system so you know you might have seen these other layer twos like optimism and arbitrary and stock wear and stuff they're more generalized right they're they're trying to offer their technology to anyone who wants it whereas loopering isn't like that so i think it's a very important distinction here that looping is trying to own the whole stack basically and just building the best

product they can for themselves rather than building something generalized and i think that's fine we already have plenty of generalized solutions at this stage right uh probably too many at this stage uh because like um you know we've got like i guess just on top of my head you know arbitrary and optimism and stockwear and and and kind of like i think fuel labs is working on some stuff in the matter labs like there's a lot of generalization going on so blueprint probably thought themselves well we don't need to be another one of these we can just focus on our own product and our own technology which they can and it's still open source and they can still share it with people they can still kind of work on it with people but i think this approach is it makes sense for them so yeah read the whole post if you've got

some time it'll be linked in the description for you but that is it for today everyone thank you again for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to the delegate newsletter join the discord channel and i forgot to say before we hit over 3000 subscribers which is really really cool so let's keep that going maybe 10 000 soon hopefully so yeah don't forget to share the video with people as well if you want um if you think they can get value out of it and they aren't subscribed yet would love for them to kind of uh watch it and get some value out of it but yeah thanks everyone and i'll catch you all tomorrow