KZG Ceremony now live, 500,000 validators and more - The Daily Gwei Refuel #524 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily gray refuel where we kept the latest news in the ethereum ecosystem I'm your host Anthony 16th of January 2023. all right everyone let's get into it so first up we have a quick update on ethereum withdrawals very quick not know any major changes here this update comes from Greg vardy who is the CTO at nevermind he said there was a small change in the withdrawals format hence there will be one more devnet called withdrawal devnet 3 and the public test net is still targeted for next week uh next week being this week so we should see this public test net uh up and running soon I believe this is the one uh this is kind of um the Shanghai public test net that is being spun up uh Anew uh so it's not the existing ones being forked over with

Shanghai like um uh girlie and sapolia it is a just a new test net that people can join if they want to being spun up to test the Shanghai withdrawals upgrade sorry the Shanghai upgrade here which is basically just withdrawals at this point but yeah just wanted to give that quick update there for you guys now moving on to I think what something was the biggest thing that happened over the weekend was that the kzg ceremony uh went live so a lot of you have already participated in this at ceremony.ethereum.org but uh the tldr just for those who may not be aware the kcg ceremony is a requirement for us to get erp4844 onto the network and there's an FAQ at the bottom of the main page here which actually explains all about this and why it's required how it works

and all that good stuff there but basically uh if you want to contribute you can go to the ceremonial.ethereum.org website here uh you can contribute via this UI or you can use the IPS ipfs interface all these other clients and these kind of links here will get you to those but participating is very very easy you basically hit click begin and move your mouse around a bunch of times you can put your own kind of like random bunch of characters and letters whatever you want to do and you sign the transactions with your wallet uh make sure the wallet that you're using is a public wallet if you're going to advertise that you participate in the ceremony because it does say to you at the end hey do you want to show this to Twitter make sure it's a public wallet if you want to do that so that you don't

dock yourself or anything like that then the contribution uh is done basically now there has been a bunch of questions around uh wait time so there is a wait time here it's not like you it'll just happen instantly for you and Mario's here from the guest team put at an FYI saying the estimation for the wait time is very inaccurate on the kcg ceremony website which you can actually see up here there's an estimated wait time at the top of the page the wait time is calculated as a worst case scenario with the maximum timeout per submission in reality most submissions are done in 30 seconds and it actually happens randomly so this is not a queue here it's not like you're going to a queue once you uh begin the process or once you find lies the processor in the in the process of

waiting there it is randomly you are randomly picked out of all the other ones that are currently I guess like in the queue so to speak right it's not like uh you'll lose your spot if you get out of it if you have to restart the process or something like that uh it's basically just chosen at random here now just looking at some early starts it's only been live for two to three days and we're already at almost 5 500 total contributions which is awesome to say I know I said before that I would love to see tens of thousands of contributions which I think is going to be pretty easily reached here uh but hopefully we get to a hundred thousand plus uh and also on that note as well the ceremony runs for another 56 days from time of recording so you have plenty of time to

participate there's no uh reason for you to participate today if you don't want to you and and if you want to kind of get it done um in an environment that uh seems to back when all the bugs are ironed out because there has been small bugs here and there you can wait for that you don't have to do it today so you do have 56 days to do it and you can do it multiple times from multiple different ethereum wallets as well which brings me to my next point which is that I find it funny because I think there is a little bit of airdrop farming going on here which doesn't really make sense to me because there is no airdrop Happening Here in terms of getting a token or anything like that because there is no token associated with this this is a

part of an upgrade that's going into the core ethereum protocol the ethereum foundation is not going to do an airdrop or anything to participants in this ceremony and there's not going to be an airdrop done by the ceremony themselves if another project decides to airdrop a token two ceremony participants that's on them but I feel like the chances of that are quite low as far as I know there isn't a pull-up for uh participating either so you're not going to get that if you participate uh at least maybe there is one out there I just haven't come across it and there also is another and isn't any other nfts that are going to get airdropped to you or anything like that so if you're trying to farm an airdrop here I don't suggest doing that but the funny thing is ironically enough it's not actually a

bad thing that people are doing that because it's still generating some kind of Randomness unless that person is being and they're just submitting things that aren't actually random it's all the same which would be quite an effort to do just to get you know just to both farm for an airdrop and to basically cyborg attack the process which I I think is a low chance of happening as well but there is that possibility now the the reason why we want as many participants as possible in the kcg ceremony or at least one of the main reasons is so that we can be sure that we have I covered all our bases so to speak because as I've described before we only need one honest participant for the ceremony to be secure out just one now in saying that there is a caveat there in that if the software that's

being used as part of the ceremony is uh compromised in any way or has a bug in it or any way that leaks the the leaks the privacy and basically makes it not not private anymore then that could also be an issue but if let's assume that everything's fine there's no bugs uh there's no um kind of issues with the software itself well then it really only requires one person to be honest and the fun thing about that is that I contributed to the ceremony and I know that I was honest I didn't try to do any funny business yeah I know the the um the the rareness that I generated I didn't actually save it either I just literally typed in a bunch of words a bunch of characters I did my mouse on the screen randomly and then it also uses some stuff in the background of

your browser to generate more Randomness uh and I didn't try to fool it so I know I can have 100 confidence because I trust myself obviously that um I that I am the only honest participant in the whole scheme even if there are a hundred thousand participants and I'm the only one that still means that I have 100 certainty that it's secure assuming that there's no bugs in the soft or anything like that right like that's the just assumption that I'm making here because it obviously if you don't assume that there is never 100 certainty uh but I can have that and so can you if you have acted honestly you can also have that certainty which is a really cool thing about this um about this ceremony is that it's called a trusted setup which some people may uh kind of uh read into

that and say oh it's a trusted setup it's not trustless but in reality you only have try it's a one of kind of end trust assumption right you only have to trust that one participant out of the hopefully tens of thousands uh has been honest and and then you can go from there which I think is really really cool I love how this works and this is the biggest uh I I believe um kzg ceremony ever and the biggest um maybe one of one of the biggest privacy ceremonies ever uh but yeah I'm not sure on that one I have to kind of look I have seen some tweets about it but I haven't got them handy for me but yeah if you want to contribute you've got 56 days to do so and you can go to ceremony.ethereum.org to do that there is also a explanation thread here from

Chris who works at scroll uh diving into the kzg ceremony so if you want to learn more about it from a more technical layout as well you can read this thread from Chris which I'll link in the YouTube description below but as I said there is also an FAQ on the bottom of the page here on the bottom of the main page that you can check out and there's documentation linked at the bottom with the audit report and the GitHub repository too so it's all there it's all available for you and it's also available for you to contribute right now now or just after watching this video or listening to the podcast alright so a massive announcement out of metamask over the weekend they have integrated a staking directly into the metamask wallet extension so you can see here that if you go to portfolio dot

metamask.io steak you can now stake with both Lido and rockapool through the portfolio dab okay so this isn't part of the extension sorry this is just on the portfolio dap which obviously will seamlessly link into your metamask extension or mobile world or whatever else you've got there but very cool to see Manama supporting this because they also have an interface here uh where you can sort by different metrics so you can sort by rewards which is the default that it's being sorted by here and you can see the rewards of both Lido and rocketpool now the way this works is basically that you buy St eth or re um you're not actually staking with any of these uh providers you're just buying the stf and nope Market or the RF and the open market and and they've also got a uh in in the Sorting here you can also

sort by uh different um different things not just by rewards but I believe you can sort by I guess like steak on the network so it'll actually tell you hey you know Lido has a lot of share of the network already it's recommended that you stay with rockapool because they have a lower share of the network so I really like how they did that I I like how they did that for two reasons one uh it shows that they're actually committed to uh educating users on different aspects of staking and uh two these rewards apis can be misleading at times and I'm not just saying that because I want rocketpool to get more growth on Lido at this point obviously because lighter already has almost 30 of the network rocket Polo only has around 2.2 percent I would love to see rocketpool grow more but the reason I'm saying this is

because I see these rewards percentages get thrown around a lot they can be highly volatile because the rewards are made up of three different things right and that percentage is calculated based on three different things from the protocol itself it's calculated based on the consensus layer reward which is the issuance the and the execution layer Awards which are the tips so the unburned fee revenue and the me potential Mev that you would get from participating in Mev boost which Lido and Rocket pool operators already do so you would a default get um get exposure to that but on top of that there is also a lot of other things that play into this like how effective the Lido and rocker pull operators are what fee they take on uh you know what commission they take and what commission the the mini

pools tag or commission the lighter operators take right uh how how and not only how effective they are at they're just normal validated duties but how lucky they are potentially with mov opportunities and how many of the opportunities they get and that can influence especially over shorter and medium term uh time frames the APR here so the way I like to look at it I like to look at the pretty much the yeah I like to look at a full 12 months now that's hard to do a lot of the time because I believe maybe rocker Pool isn't even at 12 months yet of being live on mainnet I'm not entirely sure there I don't think so I don't remember them being lived for 12 months there uh Lido definitely is but in terms of I guess the Mev side of it as well and and

the our execution layer rewards in general they're quite volatile too because if you take like a year then there are going to be Parts in that year where demand spikes like we just saw over the last week the demand spiked a lot right so that's going to influence the APR as well so you look if you're looking at shorter medium term time frames it can also influence this APR so that's why there are usually estimates given here as to what the API that you can expect will be uh but I think that the estimates themselves can be quite wild at times because there were estimates given out during the bull market that assumed like a 10 plus APR because they were basing it on those gas fees remaining as high as they were right and there may be opportunities remaining High because of that now we've

been in a bear Market the APR comes down because network activity is relatively low and that means Mev opportunities are relatively low and obviously fees as well so it's it can become highly volatile so I wouldn't just look at these numbers and take them as gospel uh because if you say if you look at this and you go okay I'm going to buy SDF today and then only get 5.22 rewards on my eth basically forever that's not how it works at all these rewards are probably going to go down uh I mean they definitely go down as more eat this staked uh and if the and there and the the only way they can really go up is if let's eat the steak which I don't imagine happening or if Mev and and the tip Revenue goes up which again only really happens when network activity

comes back when demand comes back and can be highly volatile because it's based on speculative activity so even though I think it's really cool that metamask has has done this integrated this I would just caution against taking these numbers at face value because they're definitely just estimates uh at the end of the day and maybe they should actually say that on the interface here say that estimator rewards instead of the actual percentage because I think that's a little bit misleading there maybe they have updated that I haven't checked it I'm just going off the screenshots but it would be cool for them to do that as well but anyway cool to see metamask supporting ethereum staking here and supporting Lido and rocketpool not just uh not just lighter which is pretty cool to see all right so speaking of staking Terence from the prayer Labs team put out a

tweet saying that we have now reached 500 000 validators on the ethereum proof of stake chain and you can see here that it at time of screenshot it was about 500 275 to be exact and state eth was at about 16 million and really has just been continuing to go up as we approach withdrawals here which I find pretty funny and as I said before in 2022 we basically almost doubled the amount of validators on the network so it doesn't really seem people are eager to you know hold off to withdrawals or to wait for uh sorry to when withdrawals happen uh are eager to like pull their stake as I've said before and as I explained I think it was last week or the week before I expect a lot more ethi to be staked post withdrawals then then withdraw but obviously the rewards and

and the actual uh sorry the consensus layer rewards is different to the actual staked eth and and I expect a lot of the consensus layer Awards to definitely be uh withdrawn and potentially sold for tax purposes and all of that but I think that's all noise in the grand scheme of things uh but great to see if I'm thousand validate is live here as I've explained before this doesn't mean there's 500 000 unique people running validators on the network that's not how it works at all you can run many validators off of one full node so the better way to measure I guess like decentralization would be to look at the full notes and right now at time of recording I believe it's around 8 600 full nodes on the ethereum network which is pretty good right like it's a and they're very distributed across the

globe they're not just all in the US they're very distributed across the entire globe and not only that but the validators are also quite distributed too which is great to see Mev is getting a lot better we have a much more I guess um much more diverse Mev ecosystem which is something that I was looking at the other day which I might bring up here because I think it's interesting to talk about this in uh in the context of staking here so the Mev I guess watch dot info website that I talk about a lot has stuck has basically stuck at around 64 of all blocks still enforcing o5 complaints but this doesn't tell the whole story if we untick include all blocks and we look at the relayers the uncensoring relays are actually becoming more diverse here so you remember that blocks route Max profit was very

dominant right it was at like almost 20 percent uh and now it's at 15 of uh Mev uh boost blocks and we can see that uh agnostic boost which is run by gnosis is almost at eight percent now of Mev boosted blocks and then ultrasound money relay is at 4.2 percent so these other non-censoring relayers are growing really really nicely uh which is really great to see right it's great to see that there's diversity in there and flashbots as market share has also come down a lot obviously as well so that's that's improving greatly and it shows that the decentralization of not only this the validators but also the people running uh Mev relay MAV boost relayers is also Distributing too so great to see this uh and great to see that half a

million validators are now live on the proof of stake chain all right so speaking of staking I think this is the last thing I have to say about staking uh this is a tweet thread here from marsor who said liquid staking has an unbelievable set of Tailwinds behind it this isn't an overhype trade but instead a growing Cornerstone of the eth economy a few thoughts so I I highly recommend giving this thread a read I'm not going to go over it myself but I do want to focus on uh something that I have basically talked about before with regards to these I guess like liquid staking tokens and the I guess ratio between them and how I believe that there isn't going to be a one player kind of wins all and hasn't really played out like that either I mean I know Lido is a pretty dominant Market I

know Lido has a pretty dominant Market over not just all ethereum eat that staked but the um eat the steak is part of lsds but I think that is is temporary I think the amount of competition that is coming and the amount of competition that is here already and then with withdrawals implemented we can see that great reshuffling of steak I really do agree with my saw here where he says you know his liquid staking has all the Tailwinds behind it I think that's going to definitely be the case and then in the thread he also points out that you know there are things that can also contribute to this like being able to stake from Hardware like this right like a basically a rock 5B board or a Raspberry Pi uh and being able to do this by and being able to run a mini

pool with even less eth in the future like as I've talked about before there are these Leb upgrades coming to mini pools first there's going to be eight and then it's going to be four so you'll only need instead of 16 eighth and some RPL to spin up a mini pool you only need eight eth and some RPL and then you will need four eighth and some RPI and then maybe one day only two eighth in some RPL so bringing down that barrier to entry will obviously improve this a lot as well and that obviously directly affects the LSD market share because it can only be done through rocker pool right and then when we have other services coming online like stakewise V3 that allow solo stakers to essentially still be a solid sticker but issue an LSD against it so I expect that to lead to a lot of growth as well uh

because there's a lot of solo stickers today that may be like okay well I really want to have access to my eighth uh when I'm staking it but as a solo sticker I don't get an LSD so I'm going to restake it with steak wise and still be able to be a solid sticker but with an LSD minted against it which I think obviously is very cool but anyway you can go give this thread from my sort a read yourself I'll link it in the YouTube description below all right so speaking of demand drivers generally and how that affects uh I guess like not only fair revenue for the ethereum network but also the amount of if that is burned today or yesterday we got back to being in ultrasound territory now you can see that we are just barely in there right now since the

merge the supply change is 1.18 eighth which if I keep watching this screen it's probably going to go uh positive because we're not above the ultrasound barrier right now but I mean I always come back to the fact that I think this is quite negligible now it's been four months since the merger around four months since the merge whether it's like negative like truly negative or a few thousand each issued since the merge is kind of irrelevant because when you click this little button here called simulate proof of work this will show you what the net issuance of eth would have been if ethereum was still on proof of work so this is only four months worth of issuance guys since ethereum got off proof of work it would have been 1.45 million eth right so if you're talking about us issuing that issuing a

few thousand each or maybe a few thousand negative eth it doesn't really matter right maybe it matters a little bit for the meme for the ultrasound money maybe we get to we get to have um a celebration about whenever it happens but in the grand scheme of things what the whole point of uh I guess like ultrasound money in general is is not necessarily to have the eighth issuance be negative all the time it's to have the each issuance be low enough right that it is practically zero while still securing the network that's how I view it anyway so whenever people go on about oh we're almost ultrasound I'm like yeah okay cool it's it's cool you know it's a good meme whatever but I don't think that really has any real bearing on anything and certainly not on price I think we've already done that job

whether the the net issuance is that few thousands or even tens of thousands because of the fact that we are perpetually not going to issue a ton amount of heat that would have otherwise been issued and you can see it even more on this chart here that basically shows the eat Supply under people work which would have been 3.57 a year then it shows bitcoin's current Supply which is 1.7 and then proof of stakes current Supply which is obviously zero percent right now because we're a negative territory but even when that goes positive it's like 0.001 it is negligible it is literally a rounding error so I wouldn't over index too much on that um but I do like whenever this happens the Bitcoin maximalists get really triggered over this and they start

giving us more free marketing and they start saying that it doesn't isn't sound money because it can change its monetary policy and all this other stuff and it's like because it doesn't matter to us like we really don't care it's a meme uh you know we we think ether's an amazing asset we think it is going to outperform bitcoin over time that's why we hold ethright I mean I'm I guess I should speak for myself yeah I know some of you still hold Bitcoin you heathens no no I'm joking I'm joking but just generally I love just seeing that uh on on Twitter because this makes me laugh it's like guys you can literally just ignore ethereum if you thought if you think ethereum is so useless just ignore it right but anyway that's a little bit of a guilty pleasure of mine there but

still I guess uh great to see that we're back in uh ultrasound territory if only just and if only for a little bit because I mean the ultrasound barrier is not going to maintain unless the demand maintains which which can kind of happen because we've had some nice price action over the last couple weeks for sure I mean no one's going to doubt that but it could be one of those bull traps that everyone kind of fears or it could just be a flash in the pen and you know we don't know right we don't know where it goes from here but as I explained the other day the demand on the ethereum network is slowly becoming more sustainable and less prone to just demand spikes to maintain that ultrasound barrier so if we can do that awesome right if we can do that sustainably over many months and

potentially years I'm all for that that's the whole point of what we're building right and and the fact that if we can maintain above the ultrasound barrier based on sustainable demand it means that we're always going to be deflationary and that's that's great as well right it's a great little bonus to have from from that there but yeah I guess like happy ultrasound money day again guys but as I said don't you know over index on this too much the real effects was the fact that we're basically hanging around zero issuance anyway and the fact that we did the merge which greatly reduced issuance not only in gen General but it reduced issuance going to miners who we know sold most of it especially when the market was trending up uh they were taking profits into it which led to a probably definitely I believe weaker

East price overall so yeah all right so moving on so David Schwartz from the polygon Hermes team is quote-twitting this thread here from effort Capital who said ZK VMS will see no meaningful adoption in 2023 there I said it and here is why his thread itself is pretty bad honestly like I read through it and it's not even very long and I'm like okay I don't really think your thread I mean there is one good point in there but most of it is kind of bad the one good point that he brings up is he says that most people thought that uh optimistic role of adoption was going to be a lot more than what it was in 2021 and 2022 but to be fair they didn't really go live in like a public fashion Until the End ish of

2021 like Q3 Q4 and then 2022 they actually did say a fair bit of growth right but then what I wanted to focus on was uh David Schwartz's tweet where he basically says in 2021 people were saying ZK avms are impossible in 2022 people saying ZK VMS will not be practical because of proving costs and now in 2023 The Narrative has changed to talking about option in general so it's kind of funny how within a couple of years we went from ZK VMS being impossible to now talking about when adoption's going to happen for ZK avms which I love because that's a very big narrative change and it really is positive for the ecosystem generally where I sit on this is that we're still in January guys like we're like halfway through January right now and the ZK VMS aren't live yet they're going to go live

over the next few months definitely a lot of them are going to be live within the first half of this year I expect them to get a fair bit of traction I don't expect them to get like an explosive amount of traction especially not if the market is still generally quiet but I still expect them to see at least some sort of meaningful adoption this year if if they launch in the first half of this year if they launch in the second half it'll be a bit harder but does it actually even matter like why would why does it even matter right if it happens this year or next year why does it matter all that matters is that they get they get deployed and then people use them and then there's growth there and then there's growth for the optimistic well-ups as well which there

has been and growth for layers who's in general and money going into it people joining the layer 2 space that's what matters it doesn't matter that we don't you know launch a ZK VM and then it instantly becomes top of the tvl charts that's that's not that's not signal to me that that's noise that I would actually be very skeptical of that because if you're like you know why people all of a sudden depositing all this money into a brand new ZK VM right so you need to look at it from the things that I've discussed before where you don't just look at TBL you look at all these other metrics around it and you also need to look at the kind of what state they're in are they ZK VMS in a state where they actually have a cap on how much money can be put into them

well that's obviously going to affect adoption right so taking all that into account I think is a very good way of going about it but then also realizing that the narrative has changed drastically over the last two years can maybe help you plan for the next two years just look at some things people are doubting today especially in the ethereum ecosystem and then uh kind of extrapolate that out and give a percentage chance as to what it'll be like in a couple of years uh one one big thing that I think people are potentially discounting today with a few ethereum is uh and the L2 space is the fragmentation of liquidity which was a bigger narrative I guess last year and the year before but I think has kind of subsided a lot because of the bridges but they are the The Narrative has kind

of shift to the user experience they're like I know users aren't going to want to jump through all these different L2 Hoops it's like just wait guys like they're not going to feel like they're jumping through hoops it's going to be all abstracted away from them it's going to be totally fine I know it's a meme to say we're still early but we are you can't expect these things to be well-oiled machines you can't expect them to be on the same level as apps that exist on the internet today because we're still building the core infrastructure we're not only building the apps on the front ends and things like that right we're building the back end still we're building the core infrastructure that all this stuff gets deployed on and that's going to take time there all right so speaking of layer 2's arbitrim announced that the Norwegian

government is testing a cap table platform on the arbitrim1 network so this is very cool here so you can see here that uh in this blog post you can see how Norway is using arbitrim for shareholder management uh and basically the trdi is that the Norwegian government has announced the development of something called Brock a cap tables platform for unlisted companies on the public ethereum network with Brock you can easily share and update your company's uh shareholder information using blockchain technology making the process faster more efficient and more secure what did I say the other day guys we're going to see more and more of these real world assets coming on to ethereum right and real world Asset Management coming onto ethereum well here's just one example of this

happening and one example of how this makes ethereum more legitimate because people will look at this and be like wow the Norwegian government is not only using ethereum but they are using a layer 2 built on ethereum we should look into this like if the Norwegian government is putting their their um their I guess like power behind this or wait behind this this is interesting this this adds legitimacy to ethereum it adds legitimacy to arbitrim and layer 2's more broadly so I you know as I said the other day when I was talking about real world assets we're going to see more and more of this happen we're going to see more and more of this happen from these large existing institutions and corporations because they control all of the real world assets right they they manage them they they Steward them and they're going to be looking at ways to

to do that in a more efficient way and be able to plug into this emerging Financial system that we have on ethereum and it's just great to see the Norwegian government being so Progressive here by doing this uh kudos to them for that and I can't wait to see uh more updates about this as time goes on all right so speaking of layer twos Paulina had a great tweet over the weekend where they said I know the professional researchers and developers greatly prefer Roll-Ups but I've now changed my mind I think well-designed up specific validiums and optimistic chains make the most sense for most low value High throughput use cases for natural applications and still need Roll-Ups now I've discussed this before on the refuel but I strongly agree with Paulina here there is no need to put

your game assets on something like a roll up that is going to be much more expensive for you than something like a validium which outsources the data availability to a data availability committee right so low value assets should definitely be uh no it should not be deployed to roll ups at least not in their current state and maybe not even post erp4844 depending on transaction costs maybe one day they will but for now validiums and optimistic chains make much more sense sometimes people will bring up well you know data availability communities aren't very secure yes they're better than I guess centralized uh side chains or side chains in general yes they're better than altar ones but they still have that centralization Vector there and to that I'll say yes

but that's going to get dramatically better over time with Solutions like eigen layout where ethereum stakers can restag their eth to a data availability committee right and be part of one and then be able to have a more distributed and more decentralized committee that can service not only one validium or one optimistic chain but multiple ones where and it's basically becomes a data availability chain so that's going to get better over time and this again goes back to more of a higher level overview that I have on ethereum where I love that the ethereum core protocol is not trying to do everything itself it is outsourcing so many of its functions to higher layers such as these Roll-Ups such as these validiums such as things like eigenlayer and that leads to a much better much more diverse distributed and

decentralized ecosystem than if ethereum tried to do everything at layer one and that's another reason why I'm Uber bearish on the monolithic blockchain thesis because I do not believe that doing everything at layer one leads itself to a sustainable and scalable ecosystem from every single angle you look at it everything economic social uh technology wise I I do you know decentralization Wise I truly do not believe that you can can get that same level of all those kind of angles on a monolithic chain as you can with a modular chain like ethereum because of the reasons I've outlined in the past but yeah I mean that's more of I guess high level um Point here but back to paulina's tweet I I fully agree with this financial apps will be able to to be on

Roll-Ups and will be final roles because people are happy paying you know at one dollar I mean let's just say the fee is a dollar for a swap people are happy paying that right because they're swapping uh but maybe they're buying an asset because they expected to go up in value they're obviously expecting to make more than a dollar in profit from it so the gas fee is just the cost of doing business but if you're playing a game or you're trading low value assets that are worth like 10 cents you're not going to be happy paying a dollar fee for that right you or automatically have lost 90 cents of your value there and not to mention the fees that potentially the marketplace is charge right so obviously it makes a lot of sense for those fees to be as low as possible and

you can get them to ex to an extreme amount of um extreme cheap extremely cheap I should say with VMS and optimistic chains basically I think it's 0. triple zero could triple zero uh one sense or something like that so yeah they make a lot more spent a lot more sense there uh because those low value use cases do not need ethereum's full security and I I've said this a lot of times but I I just wanted to reiterate it there because Paulina got my brain jogging with this tweet all right last up here to finish us off for today we have another great tweet thread from Tim Robinson all about how D5 is following the AWS Playbook to take over Finance now I highly recommend going giving the thread a read for yourself I'll link it in the YouTube description below but the tldr is

basically that the reason why AWS one as a I get I guess like hosting infrastructure is that it did everything for the user it had all these building blocks that the user could interact with that had them available for them and had them all in in the same place and people could modulate modularize them right could use them they didn't have to use everything they didn't have to worry about keeping their servers up their configurations there was Plug and Play like Lego bricks basically that they could play with what does that sound like D5 it's the same kind of thing right it's that same kind of thing of the D5 back ends D5 Lego blocks you can play with and you can stick them all together do whatever you want with it build your own app on it and and it's all there for you without you having to

mess around and bootstrap it yourself and build it yourself and waste all this Manpower and all this uh time doing that so so yeah that's the tldr but again highly recommend giving this thread raid I'll link it in the YouTube description below 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 newsletter join the Discord Channel and I'll catch you all tomorrow thanks everyone