Holesky launch, Onchain Nintendo emulator and more - The Daily Gwei Refuel #663 - Ethereum Updates

Transcript

hello everyone welcome to another episode of The Daily refuel where we cup latest news in ethereum ecosystem I'm your host and the Nissan 28th of September 2023. all right everyone let's get into it so you may be wondering why I have a random uh transaction hash from optimism scan uh up here on my screen today well unfortunately it is not random and it is not good news so for the first time ever that I've been in crypto I was the victim of a fish uh a fishing contractor a phishing attack that happened now this was not a targeted attack to me this was just a general uh kind of like fishing contract that I unfortunately fell for uh but the sequence of events that happened uh leading up to this and why I fell for it is pretty funny

um if and not funny in the haha way but funny in the you're an idiot Anthony way right but I figured I'd talk about this today because the overall the reason I fell for this I think is because I have lulled myself into a false sense of security for quite a while now as I said this is the first time that I have been a victim of a fishing uh kind of like uh contract here and these things happen all the time in crypto and I've managed to avoid all of that I've managed to avoid pretty much every bad thing in crypto you know I wasn't invested in Terror I wasn't on FTX you know I wasn't blocked fire or anything like that I managed to avoid all of these things so of course naturally over time it happened over years I lull myself into

this false sense of security where I start to think that oh nothing except nothing bad's ever going to happen to me right and it's kind of It kind of was funny to me because I thought back to like when I was younger like in my teen teenage years and and this is like a common thing where you see teenagers and they they act like they're Invincible right because you're so young you're so spry you're jumping everywhere you know you're doing things you can recover from from everything really really quickly but then as you get older you realize that oh okay no I'm not Invincible right and that starts to Dawn on you the older you get and obviously the more Health complications that you eventually have so I think the same is true with like your crypto hygiene where or you're kind of a crypto security hygiene where if

you haven't actually experienced something bad for a while while you kind of forget that it can still happen to you right or you kind of allow yourself into this false sense of security so that was my main takeaway from this but I want to tell you guys the story because I thought it was was hilarious from uh you're an idiot Anthony way but so what's the damage I I don't think I mentioned this yet the damage was all of my op tokens that I had on sasol.eath um and that amounted to around 50 000 US dollars so obviously not a small loss here this is pretty substantial loss for me personally um you know it's not going to kill me or anything like that it's not going to break me it's not going to send me bankrupt but it is still a pretty substantial loss for me especially

because I had planned to plan to hold those OP tokens that was the whole reason they were on sasol.heath was because it was the airdrop that I got um the original airdrop of 33 000 op tokens and then subsequent air drops after that for a total of almost 41 000 op tokens I had planned to help hold those for quite a while because I'm very bullish on the optimism ecosystem I'm also I should describe as an investor in optimism itself so I do have op tokens still vesting out as part of my investor allocation but all of my airdrop token guns are gone now they went to some fishing guy or some someone running a fishing kind of scam here and then they traded those OP tokens for eth but how did I fall for this you may be wondering you know I since I've got a such good

security posture and I haven't felt a such good wallet hygiene as well and haven't fallen for things in the past you may be wondering like how does someone so experienced in this ecosystem fall for this well I'll run you through it as I said it's a stupid story and and and and thinking back on it I feel really dumb but and and some people may feel embarrassed if they did this but I thought about it I'm like you know what I don't care if it's embarrassing I feel like I need to tell people this story to help them avoid this because you guys know that this happens all the time people fall for this all the time I'm sure some of you may have fallen for this before as well but just to give you a sense of how easy it is to actually fall for something like this even if you

have other types of Protections in place so let me run you through the story so what happened was I went on Twitter I saw Dan Romero the founder of farcasta share a tweet saying something about far Caster keys or something you know and I not really thinking about it was like okay this looks legit you know Dan tweeted about it and for some reason I just didn't think I didn't think or maybe Dan is hacked uh or maybe this you know this doesn't seem right it seems sus because they usually do that I usually run through that process mentally but for some reason I I just didn't do that so I clicked through and then of course there was some kind of transactions that they needed to be signed and confirmed out through through metamask that popped up and everything um it first asked me to change my

network to optimism which I did because I was like well farcasta is using optimism so that's not fishy to me that that didn't raise any red flags with me and the website the website itself was kind of not great uh honestly and that should have flagged me straight away but for some reason it didn't again this is what I'm saying before where I'm like this is such a stupid way for me to lose money because all of these things that have happened so far and I'm not even halfway through the story yet I should have raised red flags Galore for me but they didn't this time I don't know why to be honest um maybe I'll talk a little bit at the end about why I think but I don't know for sure but anyway I went through the motions there and then this is where gets really dumb and this is

where I am personally embarrassed in myself or disappointed in myself for doing this I literally got looked at the metamask prompts and I just clicked confirm I didn't look at what what it was doing I didn't pay attention to any security warnings I literally clicked confirm and then I I confirmed that on my on on a hardware wallet as well and Away you go I didn't pay attention to anything and the reason I think that I wasn't paying attention to anything here is because I was trying to multitask I was actually funny enough getting the daily grave video and and podcast ready to go out because this happened uh what was the time I think it was like 11 something PM my time when I was usually kind of editing it and putting it out there and doing everything so I was distracted obviously I wasn't paying

attention so me being like in that state of mind I was like you know what whatever blah blah fine fine and then I went through those motions and then I I went through the motion of switching back to the ethereum Mania because it asked me to switch back to ethereum and that's what that's the first red flag that I actually caught on to him okay why is it telling me now to switch back to to if you're a mainnet so I switch back and then it came out with a pop-up to send all of my eth to a random address that's what stopped me right I would have lost my eighth which is about six eighth on sasol.heath on mainnet if if I didn't kind of stop there I would have lost that eth as well and I and then obviously my heart sank where I was

like holy what did I just confirm you know I obviously haven't confirmed this heat transfer but what did I confirm before because as I said I wasn't paying attention I had no idea what I had just done and I went to optimism scan and I looked at the at my sasol.heath on their address and I saw an outgoing transaction of op tokens and immediately I knew what that meant right I was like holy I just got fished and I was I sat there for like five minutes just going through the transactions looking at them all looking what happened kind of in disbelief for like a mineral two being like you know maybe I'm reading this wrong maybe I can get these These funds back maybe you know maybe I didn't actually get fished yet but then obviously the reality sets in I'm like yeah okay I got fished and

then that that was basically it from there and then I revoked the approval that I gave because this is what this is a token approval fish the classic thing where you approve a contract to spend your tokens and I did that for obviously for my op tokens and then they just took the op tokens probably with some bot in the background whatever it happened it's gone now I'm never getting this money back so I'm obviously not expecting to to get a cent back from this they have already traded the op tokens for eth as well I was looking at it uh I guess like uh late last night um but just just I guess like uh taking a high level view here of the story I just told I didn't do anything like I guess like a a wrong per se what I did was that I just wasn't paying attention

right as I said there are all these red flags that kind of popped up and that should have been uh I guess like something that stopped me but because I wasn't paying attention I still fell for it and that this is the point I want to get through to you guys is that no matter how good you think your security posture is no matter how good you think you've protected Yourself by segmenting wallets stuff like that no matter how good you think you are and how good you that you think you are at spotting scams and fishes and and and kind of like um and not falling for these sorts of stuff like I did right eventually it there there's a higher chance that you're probably gonna get caught by one of these things and that's because we can never remove or totally remove the human

element from this and this was literally a human element error for me because as I said I was not paying attention that's all it took it just took me not paying attention and not actually realizing those red flags that I otherwise would have clued into honestly if I was paying attention I would have clued into it from when I saw Dan Romero's tweet about this like that's what I usually do I see that I'm like I don't trust something uh asking me to sign something but through the whole process it was literally a couple minutes it didn't even take very long for me to do this through that whole process because I was paying attention to something else and because I was just like oh yeah whatever I'll just confirm this transaction it did not occur to me until eventually I was paying more attention for that eth

transfer that I didn't make where I was like oh like this I just you know I just got fish and of course I saw this and I'm like okay well goodbye op tokens it was nice knowing you um what makes this a little bit better for me personally I guess or or makes it not like as big of a loss as well is one these op tokens were all given to me for free obviously through airdrops so I didn't like it's kind of funny to say this but I didn't technically lose any money right it was more that I had something that was given to me for free and then I lost it I didn't even do any work for this op right it was part of the first airdrop uh the majority of it was part of the first airdrop which everyone well a lot of people got

um I didn't even really do much work for this so that kind of lessened the blow as well where I was just like yeah whatever okay um and then uh I can also write it off on taxes as a loss which kind of helps a bit and lost my tax bill a bit but I guess like regardless of those kind of consolidation prizes right that I that I'm giving myself the fact of the matter is is that if I had more funds on sasol.eath on optimism here if I had a more op on there uh I would have lost it all right I I probably would have signed these transactions and signed anything because I just wasn't paying attention so that's what I want to get through to you guys about this is that the human element is so important to this sorts of stuff uh and when you actually even

though you're aware of it even though you think you may be conscious of it all it takes is a couple minutes of slipping up for for this to happen now okay well how do you protect yourself from this well as I said I practice good wallet hygiene and because of that there are only funds that I had on sasol.heath were this op and some eat that I've got in like six eight that I've got on there honestly that's probably too much Ethan on on that address and I and I should move that somewhere else because the thing is cecil.heath is more like like a hot address for me where I use it quite regularly to do different things on chain but then I have my other addresses like where I stack my eath from which is also segmented by the way I don't have everything on one address but those

addresses they're like my proper cold storage addresses where where I really don't interact with them very very often and when I do I make sure that I'm paying attention I absolutely make sure that I'm not doing anything else that you know when I when I start interacting with it I'm like okay you're paying full attention to this nothing else and I could triple check everything so I'm very Vigilant about it but as I said the point is I think don't keep substantial amount of funds on an address that you use regularly I made the error here of keeping my op there and honestly the reason why I kept my op there was was a bit of laziness and also a bit of I didn't want people thinking that I was uh selling that op or something like that right because it's my public address but it was mostly laziness to be

honest where it was like okay it's on there whatever you know I I could have transferred it somewhere else and then um because I was delegating my op2 to um polynomial as well in the in the governance kind of ecosystem but I could have transferred it but it was just laser laziness for me and that's that's a lot that's a lesson for me as well stop being so lazy about these things and really it's the only thing I've been lazy about as I said I practice good wall of hygiene in every other way and I'm pretty strict about it but yeah as I said and I'm not going to go on too much about this because I know notice that I'm already 12 minutes into this but as I said doesn't matter how good you think your security posture is there's always holes all we can do is make sure that

those holes are as small as possible and as as infrequent as possible uh and and my main takeaway from this is guys you just even if you know whenever you're interacting with something with a substantial amount of funds uh interacting with something of the world that has a substantial amount of funds in it make sure that your attention is 100 on that and nothing else because all it takes is you to sign one thing and it's gone that's all I did here I signed one thing with these op tokens I did it token approval and then they're gone and that's it I'm never getting them back unless the hacker feels generous and wants to to give the funds back to me I'm never getting these back I've made peace with that that's the reality of this stuff uh but yeah that's the the tale of how I lost fifty thousand

dollars worth of op tokens in possibly the stupidest way possible that I could have lost it considering the fact that um you know I I have dodged all these bullets over the years but someone finally got me so whoever you are out there that ran this maybe you listen to the refuel I doubt it but if you do uh congrats on that I guess uh and I hope you enjoy your ill-gotten gains there but anyway I mean I don't hope you enjoy it but anyway I'm going to leave that one at that there's plenty of positive news to get through from today that I wanted to get through and it feels like this episode's gonna go longer than 30 minutes so you guys are in for a treat but let's move on to the positive news all right so we have an update around the launch of ethereum Futures ETFs so

as I've said to you guys the ETF heads that I follow on Twitter are pretty adamant or pretty confident that these ETFs these Futures ETFs have a very high chance of being approved in October now there was an update today that apparently the SEC wants to accelerate the launch of these Futures ETFs because they want them off their plate before the pending government shutdown in the US which I believe is what October 1st or something like that I don't know exactly when it's going to happen but apparently the filers need to update their documents by Friday PM so this is no small task because it's only 48 hours to go but so they can get the ETF on Monday and and trade it Tuesday so yeah I think we could have a Futures ETFs as soon as Monday or Tuesday here which is

pretty cool um obviously not not as cool as spot ETFs but still it's something right and I think the Bitcoin spot ETFs as well as I mentioned yesterday they've been delayed uh because of the government shutdown stuff too but I still expect those to get approved probably next year I've been saying that I actually would prefer them to get approved next year q1 rather than this year because it just maps with the timing so much better you know ETF approval than Bitcoin harvesting and Market just heating up generally I think the timing just is chef's kiss right I would rather that personally and for each spot ETFs I wouldn't hold my breath for next year to be honest maybe 2025 uh it's funny because it and this is and this is another thing when it comes to politics right where it's like what if the

Republicans win the presidency next year they remove gensla and install one of their own people there that is friendly at a crypto that will just straight away approve roof and an ETF so we could get it in 2025 just because of that with Gensler at the helm it's not likely I don't think unless there's some substantial shift here but we'll have to see but anyway that's a perfect segue into the next bit which is genslar was in front of the house Financial Services committee I spoke about this yesterday and he was grilled on crypto pretty hard as he usually is here now uh I took the screenshot of the hearing and you can see behind him the stand with crypto logo uh on on the phone on the right hand side the Shield logo and then the writing on the left hand side now for

those of you don't know Stan with crypto is a Grassroots advocacy Hub that was created by coinbase in order to grow and and Foster crypto advocacy or political advocacy in the US here so it was pretty cool to see that that was there it reminded me of that uh kind of sign that someone held up that one time with Jeanette Yellen in the foreground where it said buy Bitcoin right it reminded me of that so it was cool to see that but the reason why these people showed this is because there were a bunch of crypto people that were actually present at this Committee hearing and met with politicians so Kevin owaki here from Bitcoin put out a tweet uh summarizing exactly what happened who was there you know what they talked about but he basically said you know he was one of 40 Founders invited uh by uh coinbase uh

and and the stand with crypto initiative uh in Washington DC he said it was my first time being in DC and identify and I identify as a software engineer not an experienced political hand so take his notes with a grain of salt but here are his notes so basically it's a pretty long tweet so I'll link it in the YouTube description below but a lot of positive stuff out of this tweet to be honest I think that uh one of the funniest things that I read here is that uh he Kevin says the White House doesn't like crypto but no one seems to really know why and I think that's pretty I guess like obvious to people paying attention where it seems that there is this war on crypto but no one really knows why they're fighting against crypto and I feel like they're doing it

at the behest of someone who just has an agenda against crypto whether it's someone like Elizabeth Warren or or the politicians out there so that's actually pretty positive because if they don't know why they like crypto it means that they could pretty easily be influenced to like to actually like crypto because they don't have a reason to dislike it they just dislike it because that's the status quo right now right and in saying that you know most politicians from what I've seen on both sides aren't actually against crypto at all and there are a lot of them that are actually very pro-crypton very full crypto and one of those is uh Richie Torres here who's a Democrat he's pretty young Democrat which uh which is pretty cool to see but he's another person that's been grilling Gary Gensler and the SEC about their absolutely abhorrent approach to

regulating the crypto industry and how they're doing this kind of Regulation by enforcement and this is a video clip here that he shared where he cross-examined Gary genslab and I'll link this in the YouTube description for you to check out below but towards the end of the clip he asked gensla uh Pokemon card transactions like if you buy a Pokemon card you buy a packet of Pokemon cards is that a security transaction and gensla of course fumbles around Mr X doesn't really answer the question question and then Richie asks him okay well if you're not going to answer that answer me this is tokenizing a Pokemon card uh does that make it a security right does that make the Pokemon card a security now and of course genzel was like dodging the question really and saying he needs more context blah blah but it seems through

not just Richie's questions but other Representatives questions to gensla is that he doesn't have any real answers to this because his whole agenda is regulation by enforcement his whole agenda is that he knows that the law is not on his side because he's lost three well the SSC has lost three court cases now um against crypto right he knows that the law is not on his side knows that the regulations are not on his side so what he's doing is he's just trying to regulate via enforcement where he brings his enforcement actions against all these different people and companies within within the crypto ecosystem and hopes that a lot of them settle which a lot of them do to be fair because it's quite costly to fight the SEC in court but the ones that do fight end up winning you know the grayscale recently

with their case Ripple obviously and there was one other one I believe as well it was a D5 related one I think got to do with uni Swap and there's Active cases like coinbase versus the SEC which I'm pretty much almost 100 convinced that coinbase is going to win that I I really don't think the SEC is going to win there their case against binance as well uh probably binance probably gonna win that as well but binance has other issues with like the doj and stuff like that but generally when looking at all of this it just confirms what we all know already that the SSC is a really illegitimate organization at this point it does not want to regulate crypto in a proper way it wants to just exert its power and it's not just crypto to be honest the SSA is doing this with other

other things as well but this is the consequence of unchecked bureaucrat unelected bureaucrat power where essentially because Gary Ganzo is a Democrat because he was installed by democrats and because the Democrats currently control the Senate and the presidency they have no real motivation to stop him uh a lot of them a lot of the most powerful ones because so stopping from doing this would be to admit that he's doing something that the Democrats don't agree with even though he's a Democrat and would be to admit that the Democrats appointed someone who uh wasn't doing their job properly and of course the all the politics comes into that and the rest is history from there so yeah anyway I'll link this video for you to check out in the YouTube description below but you can also check out Kevin owaki's tweet which

I'll also link there which summarizes basically his experience at this stand with crypto day at that coinbase held in Washington DC all right so whole Sky the whole Sky test net is launching today in like 15 minutes I think if I refresh the uh the bigger chain website here I can actually see the timer uh yeah no it's less than 10 minutes now so I don't know if this will be launched by the time I finish this episode but uh yeah hopefully the launch goes smoothly uh Geth actually had a release out that works with the whole Sky test net today uh maybe I actually will be able to to uh show you to show you guys this launch and see this before I finish today's episode uh but that's there for you to go check out um yeah and that's that's launching today and then once that launches

obviously it's done uh and hopefully I mean hopefully it launches this time obviously last time we failed to launch here uh but that's that one there but I'm actually gonna leave that because I might come back to that towards the end of the episode and see if it's actually launched so moving on from that I actually forgot to share this with you guys but Eve Staker shared this on Twitter there is an excellent website that you can go check out that actually has everything you need to know about ethereum's upcoming dencoon upgrade and this is at ethereumcat herders.com dencoon I will link this in the YouTube description below but this is honestly a magnificent website if you look at my the page that I'm looking at right now on my screen you can see all of the eips that are considered for inclusion and a

summary of each of these erps with links to the actual proposal and the EIP discussion so there's quite a few of them here which you can see uh everyone's favorite 4844 of course and that controversial 7514 while controversial by my standards but not really that controversial along with the other EIP so you can go check that one out and if you scroll down further you can actually see the current updates so when the devnets launched the guides links to the guides here links to all these resources and videos this is just spectacular guys I mean I can't recommend going and checking this out enough in order to see all the network upgrades yeah but not only does this website have the um summary of The Dan upgrade if you click in the network upgrade section here and you can actually see all the previous upgrades

so you can see Chappelle if we go to read more and I open that in a new tab here you can see the the mainnet announcement here linked here and if you click through to it as well I believe you can actually see uh see some more details about it yeah if you click through down here you can see some more details about it and they go pretty far back I mean you can see here how far back they go it's like we're getting into like Istanbul territory which is 2019 I think they may even go back to like genesis yeah they actually do they go back to Frontier which was Genesis that's crazy and you can actually go here and see the the first blog post about um ethereum's main net release which was published on July 22nd 2015 and of course ethereum went live on July

30th 2015 and you can actually see that there and see the first blog post that's cool so if you want to take a trip down ethereum memory lane you can do so on this website but you can also click through to the dencoon upgrade page to check out the upcoming deck could upgrade and everything that that entails so I'll link that in the YouTube description below for you to do so all right so censorship on the ethereum network and sensitive resistance of the ethereum network in general have been it has been a very hot topic over the last over a year now since the ofak sanctions and especially recently and one person at the Forefront of that is Mike muda who I've been mentioned a bunch of times on the vehicle before he's just been powering out a bunch of uh or pushing out a bunch of different eth research

posts at a very regular Cadence here all about censorship resistance and how he believes it is not futile and how he believes we can actually improve the network uh without having to upgrade the network so without a network upgrade so this latest research post is titled resistance is not futile sensitive resistant resistance in Mev boost so obviously doing this extra protocol and not doing and not requiring a hard Fork of ethereum layer one you can go check out the actual research post yourself uh for details on this I'll link it in the YouTube description below but from a higher level I did want to just obviously highlight the fact that this is this research is critically important for ethereum's future getting censorship resistance I guess to the point where you basically really have I mean as I said yesterday or the day before you're

not gonna completely eliminate censorship on the ethereum network because uh it's basically impossible to do that because as I mentioned before and I haven't mentioned this recently I think I mentioned it a few months ago um there are two forms of censorship on the ethereum network there's like out of protocol censorship or I guess like inclusion censorship where essentially censorship happens at the transaction inclusion level um and then there is censorship at the attestation level now the attestation level censorship is really easy to defend against we have slashing for that um and in the worst case scenario we have like uh um a a socially social consensus Fork that could happen social slashing uh that could happen because of that so that's really easy to defend against but what's incredibly difficult to defend against is that inclusion

censorship because as I mentioned before the inclusion censorship happens at many different points of the transaction life cycle whether it be at the Builder level at the relay level at the validator level it happens each each one of those and I showed just today about how the Builder level is incredibly concentrated there's only five top Builders and most of them are censoring right now the relayers are also pretty concentrated I think there's eight left after block native shuts down they're censoring at almost 40 percent is censoring and the validator level is looking much better I think only like seven percent uh are actually full-blown censoring there at the inclusion um inclusion level so getting it to the point where it's like it's you know it's at that valid at a level of like seven percent would be an absolutely

Monumental win for ethereum but getting it even lower than that and making it so that censorship at the inclusion level is both costly doesn't make sense and it isn't even able to be done maybe eventually where we do like uh encrypted mempools and stuff like that that's the holy grail and all this research that Mike neuter and others are putting out around this uh will will get us there so if you want to read the latest research on this from Mike I'll link this in the YouTube description below for you to check out all right so apparently rated.network we're not apparently this is true our reddit.network has raised a monster fundraising round uh for 12.89 million dollars uh to expand to other blockchains other than ethereum uh such as polygon and Solana here so

this is a pretty big race guys you guys know I use the raider.network website quite frequently but I mean I don't pay for it it's all free right all the stuff that I show you guys is free I'm not paying any kind of subscription fee or anything like that for it um and that's why you know when I saw this raise I was just like holy that's that's a crazy uh raise especially in the market that we're in right now for something that has no real obvious way to accrue accrue value like and I'll think to myself you know is there going to be a token involved in this what's that going to look like where the monetization vectors um you know it's not rated on network does not exactly exist as like a unique product there is competition it's an amazing product don't get me wrong but

there is competition there from sites like Beacon chain and etherscan others like that so I saw this raise I'm like that's a hundred plus million dollar valuation pretty crazy uh been saying that you know maybe there's something I'm missing here maybe they do have monetization vectors that they were able to convince investors would be would be very juicy down the line um I don't know uh maybe they do but anyway congrats to them for doing the raise obviously it was led by archetype PR uh with a bunch of with participation from a bunch of other investors as you can see listed here and this brings their total funding to over 15 million dollars you know what I'm actually glad they got funded because they produce such an awesome tool that even if it really never um results in direct monetization or anything like that uh

the fact that they still get to build out this tool and offer us such awesome kind of resources to to reference and to use is good enough for me to be honest uh but anyway uh yeah congrats to them on the rage just wanted to cover that for you guys because uh you know you guys know I love the rated.network website you should go check it out uh and and you can check out details about this raise I'll link it in the YouTube description below for you to do so all right so I think I've talked about this before but diva is a new staking protocol on ethereum it is not live yet but currently they're doing a vampire attack on Lido of sorts so essentially you can go to diva.enzyme.finance I'll link that in the YouTube description you can deposit ether St and sit back and relax now as I

said they're not live yet so this eighth is not being uh is not being staked and the stf obviously is being um these accruing value from the from the lighter staking ecosystem but why would you deposit here well as I said it's a vampire attack there is a diva has a token it's called Diva right and there was an airdrop for this token a little while ago and I I mentioned that on the refill as well but essentially you are a farming and allocation of these Diva tokens and this is how a vampire attack Works where essentially the protocol is offering token incentives in order to entice you to deposit your your funds into that protocol now I should say that obviously diva is very new there could be potential for bugs and stuff like that so make sure you do do your digital students there make sure you don't put

um you know all of your kind of like funds in there or anything like that but the real kicker here is is that if you do put steth into there's a lot of staked into this at launch it's automatically going to be converted into diva staked eth so you're still going to have your your staked teeth but it's going to be the devastated token now instead of St eth so that is the real vampire attack not just the token rewards but the fact that the STD is getting converted into diva staked eth which obviously um takes away from Lido's market share and this is exactly what I've wanted to see for quite a while now uh play out with these staking um with these staking service providers obviously Dave is very new so their market share right now is zero because they're not even live with

validators or anything like that but if they can get enough eth in and they can kind of start this flywheel of people farming these Diva tokens um and and buying Diva Ethan converting their stas into diva eth then we can chip away as I've said before chip away at lighter's market dominance with just another protocol because there are so many protocols right now so many taking protocols coming out somebody's taking projects taking companies blah blah that aren't using Lido and all of these are chipping away at lighter and the more that we have the the the the the bigger the chipping away gets right and eventually lighter's armor falls off and hopefully we can actually get Lido's dominance down to a reasonable level right and the reasonable level obviously is 22 as I think is the the community agreed upon thing that's going to take a

while so I think if we can stop later from growing that would be a huge win I think we already have really considerably slowed lato's growth but if we can stop later from growing altogether that would be a huge win in of itself right um and then we can work on obviously making sure that its dominance comes down over time but diva is one of those projects doing that so you should definitely go check this out we'll link it in the YouTube description below but also as I said keep in mind it is a new project uh there are risks involved and if you deposit eight it's not doing anything right now because it's still in pre-launch it's not being staked or anything right now so just keep that in mind too uh but yeah anyway check it out we'll link it in the YouTube description below

all right last up here is just an interesting tweet from Aztec so apparently in a Nintendo emulator is being built using Noir on Aztec so depicon by Tonk will allow you to play your favorite Nintendo games and prove gameplay outcomes on chain so you can prove that you beat Zelda without revealing how this is really cool guys and this is something that only layer 2's offer especially layer 2s that are focused on privacy you can go check out the whole thread for yourself we'll link it in the YouTube description below but I just wanted to highlight this as a use case that we haven't really seen before and we haven't seen it in uh in a kind of like way that exists on a layer 2 and in a privacy preserving way as well in an encrypted way and the fact that something like this is possible using

this technology blows my mind because yes okay Nintendo emulators are nothing new everyone everyone can download them very easily there are a million different emulator devices I mean I have right one right here next to me this this one here the Retro pocket three I've been playing uh Pokemon Coliseum a GameCube game on it recently and I have plenty of these little emulator things because I love them but the point is not to create another emulator the point is to create an emulator on a layer 2 Network that can do things that you can't do with these other emulators right such as prove that you beat Zelda without revealing how or any number of other things that could be you that could be done using zero knowledge technology so you can go check out this tweet thread I'll link this in the YouTube description below uh but yeah go

check that out but anyway I want to quickly check on if whole Sky launched uh while I've still got the uh the refuel recording here may not have launched yet but we'll see no apparently there's two minutes left to launch here uh yeah there's not gonna launch while I'm recording this episode I'm out of time here but anyway hopefully the launch goes well you'll know by the time you watch this episode anyway but on that note that's going to be 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 newsletters join the Discord Channel and I'll catch you all tomorrow thanks everyone