Pectra devnet1, Vampire attack on USDT & more - The Daily Gwei Refuel #798 - Ethereum Updates

Transcript

hello everyone welcome to another episode of the Deo refuel bre up latest news in eum ecosystem I'm your host D to the 26th of July 2024 all right everyone let's get into it so we've had 3 days now of the eth ETFs being live and I think they've gone just as I expected to be honest in terms of like inflows outflows kind of price action honestly I'm not surprised by any of it for those of you who remember when the BTC ETFs went live BTC went down I think it was 15% uh from the ETF day and then 2 Days Later it was down 15% there so I'm not sure why people are surprised by the price action to be honest considering it seems to be the exact same or close to the same price action that we saw with the BTC ETFs going live but again that's

all shortterm noise there what I did want to focus on was just updating you guys on what the flows have been like and giving a bit of context around that but I do want to say that going forward after today's episode so starting next week I will only be kind of reporting on the flows probably once a week at the end of the week on the on the Friday episode uh and then eventually I'll just change it to like maybe once a month or something like that or unless we get like a really big day of flows or something cuz I think I want to practice what I preach where I basically have said many times that it's irrelevant to look at day-to-day flows even week toe flows potentially even month to mon month it's all about the the longer term right it's all about what the flows look

like over over you know few months over the years and as I've said before I think they're going to of course be positive there but at the end of the day like hyper fixating on what the flows are each day and and kind of looking at the daily flows it it's not healthy I don't think and it doesn't really give you any signal it's more noise than anything else so I just wanted to to put that out there but yeah I wanted to start off before I got into the flows with just putting out this tweet from bitwise so they had a banner hanging outside of the New York Stock Exchange you can see here uh with their branding on it obviously because they're offering their own ETF which is the eth W uh bitwise ethereum ETF here and I spoke last episode about how if I was buying

any of these ETFs it would probably be the bitwise one because these guys deeply understand crypto they're very Crypt native and I just really love their approach to the E ETF generally as well but I wanted to just show you guys that it's just cool to see that right it's cool to see etherum on the front of the uh New York Stock Exchange here because for me who's been in ethereum for such a long time now I couldn't have imagined something like this back in 2017 2018 2019 right uh even up until maybe a couple of years ago I couldn't imagine something like this ethereum has just come so far ether's and asset has come so far you know I know that crypto Twitter always hyper fixates on uh on eth not doing what it want what they wanted to do but eth is a $400 billion

asset guys like it started at basically nothing I mean if you count the Ico market cap as like its starting point I think it was $18 million or something like that it is one of the greatest Investments of all time from when it Ico to today uh and it is worth more than the vast majority of companies in the world to be honest like public companies in the world it is one of the most valuable assets on the planet so I think that's worth keeping in mind to be honest there but yeah not in my wildest dream though would I have seen something like this that's it's just crazy and I I love that I can still be surprised by things like this or I can still kind of take take soless in that you know ethereum at least I think ethereum is Big within the crypto ecosystem but

we're just breaking in to the tradire ecosystem now it's a long-term Journey there and it has been a long-term journey to get there but we're really on day one of the tradire journey so it's great to see that there but yeah um related to that obviously is the flows here so this is The Far Side page that I've told you guys about before where basically tracks the flows the last two days of flows is is what I'm going to talk about so obviously we had some more big outflows out of grayscale as I said before totally expected like I don't think anyone expected there to be like zero outflows from grayscale I certainly didn't I did say that I didn't think there would be like you know the the same amount of outflows as the BTC ETFs but I also mentioned that what matters is net Flows at the end of the day it

doesn't matter if the outflows are big if the inflows kind of match that but over the last 2 days obviously that hasn't necessarily been the case we've had on yesterday there was a $326 million outflow from ethe and a $346 million outflow today from e as well oh sorry the last two days so the day before yesterday and yesterday uh for a total of almost 500 million of outflows but if you kind of um I guess like put in all the inflows from all the other ETFs uh and calculate that the net outflow for the last two days was around $280 million I think yeah on and if you go over the last 3 days you can say that the net outflow is about 180 million ion dollar there but again when I say net outflow here I'm just saying like as it

stands today because remember I mentioned about when it comes to like the gray scale products or when it comes to e there I I I still think there's going to be a lot of that flowing into the other ETS but it doesn't have to happen on the same day people can wait maybe they want to do uh maybe they want to wait for a little bit before buying back in because they maybe they think they're going to get a cheaper price because everyone's been looking at these gray scale outflows and being like Oh sell eth because there's so much eth being sold in the market so there's definitely that aspect to it as well I think so that's why I said before I don't think checking the flows day to-day is going to give you any signal at all but obviously it being the launch

week of the eth ETF I figured it was worth kind of putting this out here but in terms of who's been the strongest uh I guess like out of the other ETFs in terms of inflows obviously black rock is really really strong it had uh $70 million today 17 million yesterday 266 million the day before uh uh Fidelity ETF has been strong and so is bitwise so they're the top three really the rest of them kind of bringing in I guess like 8 six million here you know 20 million um on Van X1 yesterday but really they're they're definitely not uh as big as the the top three here which is obviously black rocks fidelities and bitwise bitwise definitely batting above uh uh their average there which is which is really great to see but as I said like looking at dayto day is just silly like

look at the variance in Black Rock on day today there was 266 million on day one 17 million day two and now 70 million on day three there's so much variance day-to-day that you like it really doesn't uh give you any signal as I said by looking at this all that really matters I think are two things the long-term flows but also the the cumulative flows like how much money's actually gone into these things and how much money is stayed in it What's the total a of all of the ETFs I think for Bitcoin right now it's something like $20 billion including the grayscale uh uh ETF of course um and that's all that matters like that's been what 6 months now I think of the BTC ETFs being live so let's look at eth in 6 months and see what the total AUM is at that point

because I think these gra scale outflows going to be over relatively quickly I I don't think it's going to take maybe as long as it did for BTC I think for BTC it took a few months actually for them to be like not over but them to slow down considerably I think it was all the way to March actually I was looking at the charts just before or the the ETF inflow charts just before uh but also I went back and looked and I I think I was looking at the right data cuz I cross referenced it with other data but I don't think BTC had a positive inflow day or or consistent positive inflow days until like uh what was it a few days like or six days or something after the ETFs went live so they had the first couple of days where it was you know

there big inflows but then the gray scale outflow started and the inflows couldn't uh couldn't offset that so that's why it's again worth looking at the longer term here not looking at DayDay not hyper fix hyper fixating on the day-to-day stuff that's going on here but as I said going forward I will be reporting on this once a week so next Friday will be the next time I talk about this unless there's some big days for some reason that something's worth reporting on uh and then I will switch to probably like once a month or or something like that or just whenever it's relevant because as I said we all know that or we all should know by now that these things are very passive Vehicles they are probably going to be up only over time and it's all about just looking at what that AUM number is

if the AUM number of all the ETFs of all the e ETFs is higher next month and it is this month we should all be happy campers because that means there was a net inflow means it was net buying happening uh and it should reflect in the price definitely over the longer term at least short-term price guys like I wouldn't even bother with uh with looking at anything got to do with that cuz there's just no signal to be had uh there but if you wanted to uh I guess like embrace your mental illness and check the day-to-day flows you can definitely check farid's website I'll link it in the YouTube description below uh for you to do so there all right moving on to some nonf related news I know I've the ETF just taken up so much time over the last few months but uh

there's a lot of stuff happening outside of that now Terren from prabs here tweeted out that he's syncing the Electra devet one with prism and gu and you can actually join in on the action here if you would like to now elect ra is obviously 1 half of the Petra upgrade it is the consensus layer side of it whereas Electra is the not Electra sorry um the PE I forget what it stands for here but it will come to me one sec uh I think it's uh yes Prague Prague that's right I was thinking like what PE was standing for here but it's actually just the p and then the rest is Electra the name Petra here so it's Prague and Electra but as I said that you can get involved with this devnet one if you would like all the links will be here

I'll link it in the YouTube description below but it's great to see that Dev Nets have kicked off here as you guys know that's the usual process that happens with these ethereum upgrades you know you have the dev Nets and you have test Nets then main Nets I still I'm still sticking with my q1 prediction for Petra to go live on mainnet I don't think there's been like a final kind of I guess like finalization on the exact eips going in yet there's obviously a lot of eips that are part of the Petra upgrade but as I mentioned I think on the last episode or the episode before there has been a lot of discussion recently uh between the C devs uh around whether to include all of the eof related eips in pectra now I think gu is the holdout team they definitely don't

think that it should be included they have a different philosophical view on things as well as a different security view on things I think it really comes down to um that the fact that they think that the evm improvements should be done at layer 2 two and shouldn't really be done at layer one because it introduces security issues or introduces potential security vectors you know uh critical bugs and things like that uh and I kind of sympathize with that view but at the same time we should still be upgrading the layer one where we can especially if it's in service of the layer 2os of course but also just in service of regular users because as much as the layer two is going to be for the everyday uh user there are still going to be people using layer one there's still going to be entities using layer

one obviously the layer twos will use layer one but there's still going to be big entities doing doing so right for example you know Black Rock doing all their tokenization stuff I'm sure a lot of it's going to happen on layer one ethereum right right they already have something on layer 1 ethereum and then you think about all the other entities to interact with it so and they're very price and sensitive too even if the fees go up so much I don't think they really care too much right so when you look at it from that perspective I think that the we should be still looking to upgrade the layer one where we can but definitely it should be done with security in mind because that's the most important thing for l 1 ethereum is that it's secure it's reliable it's resilient it's stable I think stability is probably the north

start to be like liveness right where it's essential for ethereum layer one to never go down it has not gone down since Genesis the closest that came I think well I guess like there might be some other there might be some arguments around the closest that came here but I guess like the closest in terms of some people considering it a outage was the Shanghai Doss attacks in late 2016 besides that there has been some hiccups along the way of course we saw some bugs with the consensus layer where a bunch of the network fell off uh but the network didn't go offline it it just basically stopped finalizing a couple of times I believe and there was that critical bug I think within gu uh that was exploited I I I I think I'm remembering this correctly um or or it was patched before it was exploited but

essentially the ethereum main net has for all intents and purposes never actually gone Offline that is not a guarantee that it won't go offline in the future because the ethereum network is obviously changing and evolving over time through these Network upgrades but we want to keep that record essentially especially because the whole I guess rollup Centric road map is about making sure that ethereum layer 1 is stable and always stable and always available for layer 2os so they can be the scaling layer for for you users out there but anyway as I said you can go join this uh devet if you would like I'll link that in the YouTube description below for you to do so all right the ethereum.org translathon is now back you can take part in a unique hackathon style 10-day online contest where you can compete for prizes by translating ethereum.org

content into different languages now I think this is like the second or third time they've done this done this I've spoken about this in the past on the refuel of course so if you are interested in participating in this you can go check this out I'll link in the YouTube description below there is a link to apply here but it's great to see that the ethereum.org team is doing this again because as you guys know I believe that uh ethereum if it wants to be a truly Global Network it needs to be able to appeal to as many different languages as possible and be I guess consumed by as many different languages as possible out there not just English right not just the popular languages but as many as we can get translated here I know that there are like Auto translators out there like obviously Google translate

and the AI stuff as well but a lot of them probably will struggle with actually translating ethereum related stuff uh and in in an ethereum related context as well so I think doing native translations is extremely important to make sure that nothing is Lost in Translation because we all know that these Auto translators definitely do lose things in Translation especially when it comes to more nuanced topics like ethereum related stuff right definitely I think some stuff would get lost there but yeah if you want to participate in this you can I'll link it in the YouTube description below for you to go check out all right another thing I'll link in the YouTube description below is a a uh new page on the eth Staker website called research or staking research so this is available at eth ster.com

uh with regards to staking issuance uh Max EB inclusion list Meb burn epbs uh and changes to the block building structure this will get you up to speed on the latest thinking around all of these topics to be honest this is a really great created list of resources here uh and it's definitely uh I guess like covering a lot of what I spoken about on the refi before but it's going in depth with it so if you confused about any of this stuff and you want to learn more about it this is your One-Stop shop really I mean you can use the weekend uh you know this weekend while there are no refuels to consume to basically go and read this and check all this out because all of this stuff is critically important I mean the issuance discussion around staking has kind of I

guess like died off in terms of the discussion around it but there is still a lot of research being done on it who knows what if the issuance curve is going to be changed for whatever reason at some point in the future but it's still good to know what the kind of current bleeding edge research is like obviously Max EB is critically important to the network going in the Petra upgrade you can learn more about that if you still want to inclusion list definitely still important as well for censorship resistance it's something that is being worked on uh in a really big way meev burn has fallen I guess like on the back burner up but still being worked on epbs obviously hugely important definitely something that is uh is being worked on uh by a lot of different people I believe and then changes through the block building

structure is I think something that is part of like a pretty wide road map item here and it is something that is getting more and more attention as time goes on and This falls into what I was talking about the other day about how there's a lot of discussion with reducing the ethereum slot times ethereum layer one slot times or block times I guess from 12 seconds to 2 seconds now this is this may sound like simple on the surface oh we can just change the block times from 12 seconds to two seconds that's like a oneline code change it's like no it's so much more complicated than that um because there are so many things that change when you change the slot time on ethereum like for example if you change it from 12 seconds to 2 seconds now you're basically uh kicking off a lot of

the lower power devices on the network um as it exists today there are ways around this but as it exists today if you were just to change from 12 seconds to 2 seconds you kick off a lot of the low power devices you kick off low bandwidth users because they probably have a really hard time keeping up with the head of the chain uh and then me gets even like more nuts because there's different me strategies that can be employed here uh there are different considerations when it comes to network stability generally so there's a lot of different things that go into this so it's not just a simple change and I don't know when this is going to happen I don't even know if it's going to happen like the reason they want to go down to 2 seconds I mean at least from

my understanding is that they it's kind of this conversation around like based pre-confirmation or pre- confirmations where I've discussed pre- confirmations on the refi before where it's this mechanism where you could essentially uh guarantee or like C crypto economically guarantee inclusion for a layer 2 into a block because the layer 2 wants to be a base roll up but if they want to um give the users uh fast transactions then they'll have to use pre-confirmation because as you guys know 12 seconds on on ethereum L1 to process a transaction is way too long when L2 users are used to basically instant transactions or one to two second transaction times so that's why when a base roll up context when you have 2C block times you don't have to use pre- confirmations essentially I mean you can cuz it still

gives you a benefit but you don't have to and it doesn't rely on crypto economics it just relies on the ethereum network itself it relies on that 2C slot time there so you basically get the best of all world you get the scalability but you also get the fast transactions without having to give up uh trustless without having to give up decentralization and you can just basically use the L1 in a really scalable way to verify or to validate transactions on your rollup here so yeah a lot of research going into that but you can go read this this also doesn't I mean these resources here don't just cover that but they cover other things like execution tickets rainbow staking execution auctions so on and so forth so there's a lot to digest here but you can go check that out I'll link it in the

YouTube description below for you to do so all right the second edition of the eth quarterly investors Club here is out so you can go check this out for yourself I'll link it in the YouTube description below it's uh basically free to read but there are of course nfts to Mint as per usual uh this is probably the highest no I'm going to say it is the highest quality ethereum report that exist today uh I've got the first edition you guys know I'm an adviser to the eth investors Club here but I am forgoing any advisor shares I'm just basically donating my share to the protocol Guild so I'm not biased in any way here when I say that I do believe this is the best resource right now to keep up with what's happening across the ethereum ecosystem from a both a high

and a low level because it's not just high level they do definitely dive into low level stuff here um and I'm really glad that it comes out quarterly because it means that it can be packed full of stuff and then you can just like show it to someone who just wants to stay on top of ethereum and just wants to be passively or casually invested in it now with the ETFs it makes even more sense because let's say you have like people that you know in your real life and you say to them hey go buy the the eth ETF I think eth's going to be like a really good investment for the long term and they're like well what how can I learn about ethereum how can I learn what's happening with ethereum I'm just going to blindly put my money into something I'm not some crypto Deen right so you

can send them this literally send them the first edition send them the second edition and say hey well there's an Edition that comes out every quarter it's free to read and then if want you can get a wallet and mint the nfts for your uh for your selfia uh and basically get more involved with the ecosystem if they really want to so I think this is a perfect compliment to ETF um I guess like in investors e ETF investors and it's it's fitting that the bitwise um guys are actually on the cover of this uh this quarter's Edition and I'm sure they've sent this on to a lot of their clients that they work with and saying hey check out this report we have this new eth product and essentially the eth investors Club is doing the marketing for bitwise for their clients to bring

it into bringing more AUM into the bitwise E ETF so this this is this is the real stuff guys like this is the stuff that gets me all giddy because we're all about bringing more people into the ecosystem well eth investors Club is doing just that by allowing people to digest and understand the ethereum and E value proposition from as I said a high level but also a low level and being able to do this in a I guess like a fashion that people are used to like getting quarterly reports people are used to reading that people are used to reading things online reading magazines people are used to uh basically digesting this stuff a lot of people don't want to just be plugged in every single day and look going on crypto Twitter and digesting all this stuff and trying to make sense of all

the noise not at all that's what the eth investors Club does so kudos to all the contributors for for the eth investors Club there are a lot of them out there but yeah you should go check out the second edition for yourself I'll link it in the YouTube description below for you to do so all right now a bit of exciting news out of coinbase now this this is what I really like to see so you guys know I've been on this Crusade over the last like 6 to n months that I really believe that um Bas should really be making usdc as big of a payments uh kind of um asset as they can on on base as a payments Network because of the fact that they are perfectly positioned to do this and I spoke a bit about this the other day well today they announced a vampire

attack on Tether so you can now transfer your tether on Tron so not just it's not on ethereum it's on Tron where as I discussed the other day tether is very popular on Tron so you can transfer your usdt or your tether on Tron to your coinbase wallet and when you do it'll convert to usdc on base for free there is no conversion fee here guys for free so essentially if you're holding tether today and you want to get on base and you want to take advantage of the base um ecosystem with usdc and with all the perks that come with that such as free transactions you can now offload your tether for usdc for free on base if you're on Tron on the Tron Network right now and it's very very simple to do I love this guys like vampire attacks are back on the menu like they should be

this is the this is how you compete within crypto one of the ways you compete within crypto you vampire attack your competitors here because it is a very effective way when done right of basically getting market share and I'm hoping to see more of this across the ecosystem honestly I don't consider it to be like a a dubious or kind of like scammy or grifty um tactic I consider it to be fair game like this is an open market this is capitalism it's fair game to do this there are I guess real life businesses outside of crypto that do I guess some version of a quote unquote vampire attack on their competitor all the time right whether it's like some big sale that their competitors aren't doing or whether they're offering perks that their competitors can't offer like this happens all the time within the non

crypto ecosystem and obviously it's happened a lot in the crypto ecosystem before but I'm loving seeing it happen with critically important things like stable coin so big kudos to coinbase for doing this I'm very happy at this stage like I'm very happy that I don't know if anyone at coinbase heard my please for them to do this I'm sure it was already on the road map but I'm happy to see that it's just it's played out and it's played out just beautifully uh here but anyway if if you've got TR uh usdt or tether on Tron and you want to convert it to usdc for free on base you can now do that using the coinbase wallet so I'll link this in the YouTube description below uh for you to do so and actually just um just an FYI here actually I should I should cave out this

and I think this is actually even more bullish so this is only available in certain jurisdictions they've said this in the second tweet here uh where essentially it's available in Latin America Africa Asia Pacific uh including Argentina Brazil Ethiopia South Africa India and Pakistan uh and there's a direct uh link here on mobile to to to play with this I think the reason why they've done this is because of the fact that there this these markets uh where usdt on Tron is most popular and they're basically going for the throat here with this vampire attack so I don't know if us users get access to this or anything like this free conversion I doubt there's many US people that actually use tether on Tron to be honest as I've said in the past like a lot of the usage tends to be concentrated in in these

regions right Latin America Africa and Asia Pacific so going after those regions I think is very smart uh and I'm glad that coinbase is doing that there all right to finish up today's episode just a little bit of uh I guess I'm not going to say it's going to be a rant because I don't want to get too ranty here but it's bit funny because obviously if you guys spend as much time as I do on crypto Twitter you would have noticed this but I put out a tweet yesterday where I said ethereum continues to execute strongly on its well-defined and long-term rollup Centric road map and then the ethereum haters now say well we've come to the conclusion that rollups layer 2s aren't actually ethereum there's just no winning with these people so remember a while ago I said to you guys that the

gas fee fud and the I guess like other fight about ethereum it it's just a way to like hate on ethereum like it wasn't about the gas fees in particular yes obviously the high gas fees are wrong and we need to you know not not ideal and we need to make sure that we can scale ethereum for users but the goalposts always shift like I remember when the gold post were that rollups would never work and then it shifted from that and then it shifted to like they're all centralized and then as they've begun to progressively decentralize it and and all the other fud seems to just get dispelled uh every day on Twitter they finally moved to this fud of that layer twos aren't ethereum which is just beyond stupid like it's actual fud it doesn't make any sense e layer 2's are ethereum as much

as an app that lives on ethereum layer 1 is ethereum it's a set of smart contracts guys on the ethereum Chain you can verify for the this for yourself running your own full note you don't have to trust anyone that's the beauty about this because there's no trust involved you run your own full node you can essentially verify all of this for yourself and see it all for yourself as well as use third party tools if you want to as well like L2 beat has all of the contracts listed there for you to go and verify you can verify that on E scan and on your own node you can cross reference it with other explorers out there there is no need to basically just look at crypto Twitter and basically listen to these idiots I'm going to call them idiots because that's what they are

saying that layer twos aren't actually ethereum they are ethereum they are directly connected to ethereum especially if something is like a base STW up for example that is 100,000% ethereum like there there's no conceivable argument that you could make that that's not ethereum like I know sometimes people will make the argument that oh well if they're posting their data off chain then it's not ethereum it's like well no because then you can just extend that argument out to a lot of the apps on ethereum L1 and say okay well because this app doesn't only has a centralized front end and doesn't have a decentralized front end that means this app only partly lives on ethereum it's like well no the smart contracts are on ethereum the apps on on ethereum here yes there is supporting infrastructure around it but it it lives on ethereum right so I just really don't like this

narrative this talking point because of the fact that at least in the past there was some valid criticisms to be had like there the valid criticism of the L2 being centralized like completely you know completely valid right like I I'll give points to that but as I've said in the past like the l2s are decentralizing over time the criticisms over the fact that they have uh obviously multi like security councils yeah sure that falls into the centralization argument the criticisms around liquidity fragmentation while I believe they them to be overblown to an extent they're still valid so when you look at it from from that perspective like there is valid points of criticism here but to say that layer twos aren't ethereum is not a valid point of criticism it is cope guys it is cope and SE because I think in the other ecosystems where we

say well ethereum layer one isn't competing with these other ecosystems ethereum layer 2s are competing ethereum layer one is essentially competing with Bitcoin like I in in my mind ethereum layer one and Bitcoin layer one obviously are competing here whereas the layer 2os are competing with the other layer ones to be execution layers whereas etherum L1 is trying to be that global settlement layer which is what Bitcoin was trying to be or is maybe still trying to be uh and and doing that by basically remaining decentralized basically keeping node requirements low you know sacrificing the stuff that people I guess like criticize ethereum for but that's what makes ethereum strong that's what makes ethereum unique ethereum layer one should not be trying to scale its execution like other layer ones are that's not the ethereum road map here the ethereum road is the rollup

Centric road map and if you disagree with that if you think that it's a bad road map you don't have to be in ethereum you can go somewhere else like I would love for you to stay in ethereum don't get me wrong and I would love to be able to uh convince you to stay in ethereum and convince you that modularity in the rollup Centric road map is the right way about scaling a blockchain to the world but at the end of the day you're not forced to stay in this ecosystem you're not forced to hold eth there's no one forcing you to do anything here there are other ecosystems out there that you can go enjoy that you can go play in and that's totally your choice yeah so all I can do is give you the information available to me and I can educate you as best I can I can try

not to be tribal and biased about it I can try not to put bad information out there but I'm not going to force you to stay if you don't want to if you don't like the road map or like the road ethereum has gone down not everyone has there's been people that have left over the years like I know a few of them myself and that's totally fine but honestly I feel like a lot of people who left tend to leave crypto all together they don't really just leave ethereum um and and I think that a lot more people come into ethereum after spending time in other ecosystems because these other ecosystems just end up repeating what ethereum's already done and and repeating the same mistakes that ethereum already did in the past and then coming to the same conclusions that ethereum already did in the past and

then saying well okay I guess we're all just building the same thing then it's like well yeah because there really is only one way to sustainably scale a blockchain uh for the world and I believe that way to be the rollup Centric road map the modularity road map uh and I strongly believe that that's my strongest H belief in crypto besides decentralization being the only thing in crypto and without that you may as well just have a centralized database but those two things I think marry together because the whole reason I strongly believe that modularity is the way forward is because it preserves that property of decentralization because without that we don't have a blockchain we don't have uh something different we have uh I guess like the same thing that we already have within the trafi you know centralized ecosystem just with a new code of paint on it and I I'm not

here for that guys and I'm sure a lot of you guys aren't here for that either but enough on that for today I think that's going to be it so thank you 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 next week thanks everyone