Rocket Pool Community Call | 31 August 2023

Transcript

hello Langer is a pleasure to hear from you hey Jasper welcome back um you you banish it for a while there I'm glad to have you back still um in technicality um that's unfortunate I guess uh I should give a little uh little talk at the start of the space about that uh uh ultimately I think I was caught up in an overzealous spot detection uh I was in the middle of making a list uh with many tabs open which is apparently not the way you're supposed to use Twitter uh and in doing so I found my account banned

I guess the way you're supposed to use Twitter is whatever all these actual Bots are doing because their numbers seem to increase by the day right yeah I guess Bots don't use lists they focused all their uh their power on making sure no one used lists that is that is funny dude you know like um uh being being like in software development you can test your your software over and over and over again but the thing is you know a developer is only going to test it in a particular way in a way that he knows it works or he or she knows knows it works and not not not kind of on purpose but certainly they have a bias towards that and then

uh usually usually a usually a QA person comes in and just goes completely you know ape on it and and and and leads the developer in confusion as to why they would ever want to use it like that and then it goes to the public and they use it completely differently so there's there's like these three layers of uh of usage of software and each layer uses it completely differently and it's it's quite difficult even if you're able to think diversely to test out every single permutation I mean we're still finding new zero days in uh battle tested contracts on ethereum and it's essentially the same idea right

like a hole in a bot detection could also be a hole in the defy contract that's risking several billions of dollars but anyway we are here to talk about our rocketful bi-weekly update and also we will have a special section today on eigenlayer normally on these uh bi-weekly calls we have a guest but today the guest is just going to be uh the nature of eigenlayer and how it relates to rock and pull uh potential risks potential benefits and so on uh where should we start would you guys prefer to hit that first or this would be a good idea

um we can start with a maybe high level introduction which could be useful to a few people including myself about risk taking as a concept and what exactly it is at the end of the day and uh yeah go from there um Habit to let you and lingers have that chat and then we can move on to the bi-weekly sure uh salt case off with uh the way I like to think about eigen there eigenlayer broadly is the re-hypothecation of security it is using security uh that already exists in a new way uh that's a very broad concept but that's what they ultimately are

trying to do uh and so in more concrete practical terms eigenlayer is a platform for uh using staked eth uh in new ways most importantly there are two broad schemes for this there is the restaking of lsts and then there is the restaking of nodes these are two separate but related Concepts uh so I'll briefly dive into each starting with the nodes to me that's the one that makes the most amount of sense and is the most intuitive the ethereum network is cured by many thousands of node operators rocket Polo

alone contributes about 3200 uh if we use the high end estimate it's probably more like half that but still in the order of thousands these nodes are just read around the world and are technically proficient given that they're running the ethereum layer ethereum Hardware requirements these node operators are a useful quote-unquote technical Army for hire in ethereum the actual demands put on operators are pretty low but they have to be aware of different issues

eigenlayer is intending to open up this cohort of people these semi-technically proficient people to take on new tasks give using their existing setup so if you are a node operator you could in theory opt into this whole Suite of things above ethereum staking the way this would work is currently you would point to the withdrawal credential to the eigen layered contracts and they would have slashing rights over you so this is not at the ethereum level eigenlayer cannot change the ethereum spec rules and like add a new slashing condition but they can do sort of like a

theoretical slash wherein the the amount you're owed will change depending on the behavior you participate in if that sounds familiar that's good because it's actually quite similar to Rocket pool uh changing the withdrawal potential and having uh sort of a new set of slashing conditions on top of State e H so that's broad broadly the idea you take your node and the capital that stayed on it and reapply it to new applications that in theory should not increase the risk so much so that the whole thing falls apart which we can get into later the other side of things is the restaking of LST tokens r e rhapsd CBE

um the idea here is that some tasks might require a high amount of TBL uh for security uh in doing so you would have a set of node operator in a network that would take on this restaked Capital so you could in theory or hypothetically stake your re onto the rocket pool network of eigenlayer sorry on eigenlayer the rocky pool Network you could stake your Reef to that Network and despite you not running a node yourself contribute to uh these additional applications that are being built on top of eigenlayer that of course is much less enticing for

app developers it's a very Niche use so we'll see exactly what develops on there but in that sense there are currently 12 or so projects that large projects building on top of eigenlayer that include um their own in-house data availability service eigen da several different ZK roll-up and ZK interoperability platforms uh and then two uh new sort of l1s turning into l2s using uh eigen layer which are cello and mantle as well as also a shared Express layer so there's a real diversity going on of uh platforms but yeah that is the overview of

eigenlayer at a high level how's that Land on You Darren and happy to talk about more specifics yeah no that's perfect and it actually kind of like dives into uh so yeah some of the different types of of kind of restaking um I think just to just to kind of like summarize that a little bit um uh kind of slightly uh reword it that it's reusing kind of like ethereum's trust Network so ethereum have obviously built up a lot of time and effort into building this kind of trust Network for ethereum's consensus but it's reusing that kind of like network of stakers to provide trust for other decentralized products or infrastructure

um and that second part probably leads into like the opportunities quite well in the sense that um you know every decentralized protocol um pretty much requires some sort of bootstrapping of a trust Network to get to get going they you know often there there's some sort of like crypto economic kind of um stuff going on with decentralized and protocols you you kind of have they go hand in hand and so you kind of have to incentivize um behavior and disincentivize behavior um and bootstrapping that is is very very hard and so what restaking kind of does is it makes that quite easy or you

know a lot easier because you can always you can you can kind of like Leverage the ethereum trust Network to kind of do that there is I think there's still some stuff around you still need to provide the incentive I think there's a there's that the disincentive is covered because you can kind of like um uh Slash people essentially but the you still need to cover the incentive um but it does mean that you know more decentralized protocols can um use that mechanism to to bootstrap and so you know there is a there is a potential for some pretty massive Innovation and as Jasper mentioned there's already kind of like a lot of very varied um sort of use cases and

applications um kind of coming online yeah I think you touched on those points really well uh the diversity is really interesting to see uh and the idea that people no longer have to bootstrap a set of node operators that they have just a Marketplace they can go to now uh is something we haven't experienced yet in crypto I don't think uh like we've had uh l2s that want to inherit ethereum security but they have a huge number of Hoops to jump through and it's taking multiple years to get to even like a step two uh a type two sorry L2 and Arbitron which is still far away from

truly an area of security uh this version of restaking of reusing the existing ethereum node operator set for new novel applications is a really nice uh workaround to that issue of of how do you get the security without uh the insane amount of engineering so yeah I think there's going to continue to be apps that develop who take this route where you can just sort of rent the security instead of having to build the security and in that sense it is uh a new set of incentives onto the consensus layer and this is something that actually uh worried some core researchers so while

there's this huge diversity in theory of uh opportunities that are going to be available to node operators who opt into this network uh there are also considerations that the ethereum researchers didn't really foresee you know they didn't weren't thinking about restaking a node onto like uh 30 other applications back in 2017 when proof of stake was really starting to move forward um and so vitalik put out a piece uh sort of called Don't overextend ethereum consensus and in that he was worried that external incentives could destabilize

the consensus layer uh bad incentives could lead to potentially uh uh the the note principal agent problem or other avenues in which uh suddenly the incentives that they thought they were aware of now are less clear I think Barnaby another uh researcher who's on the ethereum robust incentives Group which is just a fantastic group of people he put a piece that was really really informative on this whole ecosystem when the idea of reusing consensus security called seeing like a protocol and in it he talks about how the thing that worries vitalik isn't exactly uh

eigenlayer itself it's the concept that the protocol could be taken under incentives that it's not aware of uh the protocol couldn't see the incentives so Barnaby's post was essentially talking about this issue and thinking of an alternative and thinking about ways we can expand what the ethereum consensus can see without overloading it uh with things it can't see so the general problem that eigenlayer presents isn't in so far of uh the yield seeking or reusing security for the these potential soft slashes it's more so that we might introduce

some systemic imbalance uh that tilts the consensus layer uh in a bad way this I think is less likely because of the work being done by Barnaby in expanding what the protocol can see so I kind of think of eigenlayer as the testing grounds for what will become enshrined in the future so how does that land with you the I sort of uh presented what I think vitalik's criticism or concern was and well how I think we can move forward with that yeah I think well I think the other thing that the talent was talking about was

um uh essentially um having the like the the social consensus having to come to the rescue um as well and it's like don't overload this the social consensus as well as the the actual presence itself um so it's it's like um uh but I think when when I when I kind of like read through I don't think that's and I'll definitely read um but I'm a um uh Bernard is it Bernards yeah article um like uh I haven't read that one I've read italics um but I think to be honest I don't think it's necessarily a

restaking issue it's anything of any significant size because because uh ethereum can be forked um and anything of any sufficient size built on ethereum if there was anything that went wrong with that thing there would be calls for a fork whether you know whether it's whether it is um uh you know whether it's restaking or if it's something else you know it could be make Adele for example right uh you know if if there was something of sufficient size um there would be calls for a fork now whether that actually happens or not is is another matter um but you know that that's that's

because ethereum can be fought you know there will always be there um so I think that that's not necessarily for me as as worrying um but the second order issues are definitely and I think the work to make things more um a protocol kind of visible is is definitely worthwhile because it's like they say it's the second order incentives uh is is where it we get a bit worried um things like you know a uh one of these value networks um you know essentially pays you more than it would cost you to re-org the network uh to you know up to finality you know that that sort of thing is uh

is quite worrying um but to be honest that have that exists today you know uh anything above anything anything above the protocol level uh at the application Level and that and that exists today um there could be people who set up smart contract um you know Ponzi Ponzi schemes who who can you know pay validators to to reorg um based on you know what's kind of like happening you know that that could be built today and and work um so it's not really it's not really that um there's necessarily worrying me but I mean the second order effects some second order effects will worry me but I

don't know what they are you know what I mean and that's probably it's the unknown it's the unknown unknowns uh that are that are probably um freaking people out a little bit more than uh any of the known unknowns um so yeah that's that's that's mainly uh to be honest with my my thing my risks with eigenlayer are more around like implementation might run a bit more lower level um you know it's along the lines of you know how does a node operator kind of risk manage um uh so obviously there's some operational risks you don't want to overload a node with with these new modules um so it's just making sure that they can kind of like Risk manage from that

perspective you know how much of of the stake that they are actually putting at risk is another thing um delegation uh so being able to delegate steak that is like a like that's got red flags all over it for me yeah uh particularly in the white paper as it says you know it essentially relies on trust at the moment so there's not really a way and and and it's very very early days so and it's a white paper so it's not it's not going to cover absolutely everything um but like delegation I think is one key area um the delegation and kind of like Risk Management because with delegation uh currently from what it sounds like it sounds like the node operator controls

the risk but the delegator just delegates and has no no visibility or control over the risk and so that would be my that would be my worry um and with that super fluid restaking um sounds it sounds incredibly risky um and a large so a large surface area um so of kind of like problems so so I would say it's not necessarily I wouldn't say necessary for me restaking is um is problematic um I I would I would say it's more around the implementation uh and making sure that they get that kind of like right and we I mean we've got we've got quite a good uh you know relationship

with uh with eigenlayer um and so but we talk to them every now and again um and so and so we'll kind of like make sure we you know put our hand up and and kind of like say these things um to them but yeah they're they're the main things for me to be honest yeah let's uh dive into them a little bit so uh this idea of the delegation definitely seems like in the case of Rocket pool it's a bit more challenging than the case of uh the rest of the market because everyone else is trusted and uses permissioned operators right so when you have the permission Lido Network for example re-staking or sorry delegating uh so if you are just a steath holder

and you go to the network and you deposit and restate that way and that gets delegated to their system well they're not really taking any new risk gelato node operator since they were already uh being trusted to operate their network with rocketpool we have a different case right because we have a sort of a security analysis reasons for the amount of eth on every note right so you have to post a bond to ensure that you don't run away with Mev pretty much the this consideration is a bit challenging when we think about okay so if someone comes with Aries and they

want to delegate to the res network uh how would that work so I think that's still an open question for if Rocky pool wanted to uh formally join the eigenlayer network or how the exact implementations of that would look like uh seems like challenge further I think this is worth just pointing out in this name of transparency currently eigenlayer is going to have a security Council uh with the ability to undo slashes so in the case of aberrant Market Behavior some type of exploit uh the security Council in theory should be able to step in at

the same time Security Council is also a point of weakness and I don't recall if they have slashing abilities or just un slashing abilities but yeah they just they just have on slashing so they can't they can't actually slash people but they they can prevent the slashing I think they also I think they also do upgrades as well yeah so they essentially have Harmony Powers uh through that but yeah it's a reasonably sized group of people as far as multisigs go yeah and I yeah and I mean glass houses people in Glass Houses should throw

stones right um we were like I think uh I think you know we found that it that that's probably the the easiest First Step First Step um to kind of have a a sort of like governance structure um that is that is kind of like secure um and then build out kind of um from from there a kind of a more decentralized governance system but um yeah yeah so it's definitely something to be mindful of yeah absolutely but uh uh they they have a pretty clear pathway from historical precedence on how to do this uh safely and they are well uh

uh well financed to find good security representative so they did raise like quite a large value and the airdrop Chasers have for sure been chasing that token uh uh which is a double-edged sword because on one side it shows the demand for the product on the other side there is a large amount of tvl and relatively untested contracts at the moment uh so neutral on that but just something to to to pay attention to but yeah I think eigenlayer is going to be uh for the people who want to explore the risk a wonderful opportunity and one that For Better or Worse ethereum is

stuck with this idea of restaking is not going to go away um and I think it's better to embrace it on our own terms and as safe as we can than to let uh the competitors run away with it I think from a broken pool perspective obviously um I think we race this during like the prioritization thing and it didn't really come up as a very strong sort of priority then and obviously and your priorities change and so um we'll kind of like reevaluate the the kind of development priorities and I think we're probably scheduled to do another prioritization in in a little while um so we'll kind of like have it have a

look at that um I think I think eigenlay is probably a longer term thing and mainly because of those that you touched on in terms of the there's a few there's a few things that make it kind of difficult for us and to kind of be involved um but and actually Megapolis I think alleviates some of some of the issue as well um so that that actually um helps um a lot and with this sort of thing going forward um so we'd want to get you know that out the door um first anyway um I think there's some changes around like the the collateral limit so uh we need to we I think before before we can kind of like commit to kind of like in

there we need to know how much collateral uh node operators are actually posting you know what I mean so we need to kind of like we need we need to kind of um you know nail that down and so so I think that's why I'm kind of like putting um I've been there in a slightly longer term bucket because we we have to kind of like get those things um out the door and and kind of embed it in and before we can kind of like start talking about how it then gets restaked and and how I know the playlist can kind of use that um but there might there might be some um uh some other ways that we can kind of like integrate or maybe I'm um you know uh maybe that it can be built on top of rocketball rather than that would

be my kind of like preference is for it to be built on top of rocketpool rather than um you know built into rocketball um but we'll have to kind of like see how that how that um kind of works out and so yeah we'll adjust uh we'll go through and see um their priorities and and see where that kind of lands in terms of um our kind of like time I guess yeah and obviously the community that doesn't stop the community from uh from researching it but I'm sure they will and then they'll tell us what we should be doing you gotta love the web 3 development world

uh yeah no I I definitely uh Echo that sentiment um uh so in terms of uh Mega pools uh just while that is here uh I'm not sure if you heard through the grapevine but a friend of mine is actually quite interested in doing an update on Ken's research and looking uh at designing some curves that the community can use to then uh debate about what that our collateral should look like with mega pools for those of you who are not familiar uh Mega pools is the idea that we can link all the validators on a single node together

into this sort of one unit that is then a shared pile of collateral so instead of having all these individual silos of collateral like you say if you had 20 minute pools that are all LED eights you would have 20 individual silos you could connect them all okay with mega pools uh under one umbrella that would be an aggregate 160 eth worth of collateral in Mev terms that's a lot of protection and so the incremental bond in theory could be much lower so how much lower uh and to what extent uh as well as how much eth we're willing

to lose on average uh is what my friend uh a sort of data analyst is going to be working on yeah I've been having a talk with them with Ken um about that and actually it kind of came up as well we were we were doing workshopping um the the max effective um uh stake or max effective balance um change that the proposal that has come up um and that kind of like put us into kind of thinking that it should be a ratio anyway um you know it shouldn't it shouldn't actually be like a at her mini pool you know

was it 20 28 and four uh East type thing it should actually be a ratio implemented as a ratio anyway um so that will kind of like lend itself to putting it on in some sort of function um of the deposit but we yeah it's still very early um and I think that that question and you brought up um around uh either be it will come down to like the RF protection um there's definitely there's definitely the there's the Mev protection which is both it's actually under the same umbrella you know Ari's protection uh kind of covers um uh Basics like the different kind you can break it down into

um basic slashing um protection uh protection against kind of like Black Swan events uh which are like uh mass slashings and um and uh quadratic leaking and all of that sort of thing and then the third one is kind of like this Mev stealing uh or you know execution layer um transaction stealing um so all of those three uh kind of like covered under there and it's just a case of um drawing a graph that covers those three things in a uh substantial way to make sure the R8 is a is a really solid and uh and kind of protected asset um but also you know um gives up that

gives us those kind of like scaling um improvements and all that sort of thing and that come with um applying that that for that function I think it's a really beautiful function to think about because on the left side you're going to have this Mev theft based calculus right so our current limit is based essentially entirely on that uh lev8 in the future it might be led4 due to other forced exits or a higher Max ejection balance but that's going to be the left side but then the right side is going to be almost purely based on either quadratic leak or just the damage of a slash and a

slow leak so this curve is going to have to make like a transition between the two as it progresses so I am very curious to see what it's going to end up looking like and um a more abstract way of thinking about it would be just to have an estimated or our eth loss percent at each incremental unit which is sort of how I started thinking about it after discussing with what Val but that's uh probably a little bit too into the weeds the the major points to know are that the bond is going to be dropping and Rocky pool is going to be gaining a tremendous amount of scalability

potential with megaposa unlike anything that we have seen and much greater than uh even led8s was for the protocol it also kind of adds an awful lot of efficiency yeah so from it from like a gas perspective um it just becomes a lot a lot easier to kind of like on be on board people from a from even from like a cost perspective as well cost and management perspective overall so from a node actually from a a what is it like a um a life um enjoying your life kind of perspective from a node node operator

experience perspective um it can be an awful lot better um because particularly if you if you've got more than a few uh kind of validators or mini pools um it is going to make your life so much easier and so particularly from a gas a cost perspective and and just managing it managing the mini pool a tertiary benefit is that it also allows us to reduce the commission rate in theory uh at the higher end so if we have like a node average based commission instead of like per mini pool uh that could in theory fall off the more validators you have and the node operator would still be earning well

ahead of what they are currently uh so yeah it's just like a huge amount of design space that's going to be made available with mega pools Kane had a really nice um research repo for those who want to learn more about the technical side of the things with that I think we could jump into the bi-weekly would you unless you have any further comments on either of uh eigenlayer or Megapolis sweet so it has been a very successful a

couple weeks for Rocket pool as growth has started to pick back up again in a really impressive way uh notably the mini pull count had ticked uh over 25 000 validators on the bi-weekly medium update it was still 58 short but uh as we're speaking now we're currently sitting at uh oh I just had it up I don't anymore but well above 25 000 validators so uh just first hats off on being the sixth largest staking protocol in the ethereum space Also passing flipping Kraken if you will

oh there you go I didn't I haven't kept up on that yes uh that's awesome yeah great news yeah moving up in the Rings um it's just a sign of things to come as Rocky pool uh as well as having surpassed these people is also growing quite fast relative to its size still um if you check out the hildebe Dune board you can see that in terms of eth onboarded in the past week rocketpool was uh second only to Lido so pretty exciting times and uh good to see growth still happening even though uh our youth had been sitting at a premium

for the for a little while now in terms of the smart node uh version 10.2 was just released or was soon to be released it has been released uh has been released yeah and if you did update there is a co-op available uh made by the lovely chiffrin as part of their uh ongoing po rocket pool series you're going to get quite a lot of those

pull-ups Joe puts our release quite often so uh um you're gonna collect a lot of pop-ups that way you know there's got to be at least three or four hundred rocket pull pull-ups already so drop in the bucket still oh you know I'm sure this is very pertinent for everyone listening here on the call but if you have more than 1 000 mini pools on this node make sure to upgrade uh as there are some improvements specifically uh yeah whale mode so that was uh specifically for Thomas G

who has just in the past day queued up about 200 uh Bond reductions so that's a conversion of an LED 60 or a 16 eighth mini pool to an eighth eighth mini pool or two eighteth mini pools in doing so he increases his APR and pulls uh I think 48 eth from the deposit pool expanding uh the supply of our youth so it's a win-win-win all around for the protocol and for the ecosystem and for Thomas it's been interesting uh before uh Atlas went live there was some conversation

about what the deposit pool limit should be and that conversation was largely based around the idea that we have so many node operators that will be able to bond reduce that uh the pool probably wouldn't stay super full until it had the protocol is increased in size pretty substantially we didn't quite expect the queue I don't think uh to have gotten so large so fast but it it's still playing out that all of these conversions will at some point probably happen and uh in doing so bring about a pretty decent expansion in the re Supply

yeah I think I think the uh the premium is probably uh helping that as well um you know the being able to come light up and that premium is quite good um so there's definitely a lot of people taking that into consideration yeah right yeah I saw Marco feasted uh over 15 Ethan one day from uh doing Bond reductions with the premium uh using rocket ARB uh and speaking of Rocket ARP if you are in the Rocky pool Discord go check out the uh po apt specifically for Romano unfortunately Ramana uh had 34 eth stolen from him uh and so

this poapp is a bit pricey but all proceeds go towards Romana as he has done some fantastic work for the rocky pool ecosystem so in terms of R and D uh sleety's design assets are being incorporated into the website update uh any other updates related to the website uh I mean that that's pretty much it I mean we're incorporating um uh those images as they as they kind of come in but it's looking really good um uh so that's that that's really exciting to kind of like see that

actually come to life and we spent quite a bit of time on kind of like going through and doing like content and all that sort of thing but now that those images are going in it's really starting to look good um so yeah so that's it's is that's going well sweet revisiting a topic we touched on earlier it appears that we the team has been doing workshops on lev4s and implications of the change to the max effective balance so for those of you who don't know the max effective balance is essentially the amount of eth that a validator can drop to before it gets kicked from the network so if you

abandon a validator it'll slowly bleed out over time until it hits I think 16 each at which point it'll get exited that's a huge amount of leakage and it's kind of irrational like you're very rarely going to have someone who accidentally leaves something to bleed out for that long right so usually I think I think even uh and you've got the wrong parameter that that one that that one's that one's the ejection that one's the ejection balance yeah yeah yeah that's ejection balance the the mat the max effective one is um is basically so the minimum is

staying the same so you still need 32 each to uh to create a validator um but the but at the moment the Min and the max is 32 right um and uh and your balance is kind of like skimmed down to 32 um you know every every so often whatever um now what they're what they're proposing is actually to change it so the Min stays 32 but the max goes up to at the moment the the it's a you know an indicative number but it's not it's not it's not necessarily going to be this number but it's like 2048 eighth um so what that kind of means is that you can keep depositing eth

um and in fact uh they'll be like this Auto compounding mechanism where it will auto Compact and you can Auto compound as well so you can uh so you can have a 32 each validator and but you can keep um uh depositing you know more and more into that into that other data um all the way up to 2048 um in which case it acts exactly the same as a as a normal validator where it skims down to 2048 um so um the the reasoning the reasoning behind it is actually more of a kind of like a network um uh reasoning so uh the peer-to-peer layer that your ethereum sits on top of

and so when all of our all of the nodes to kind of like talk to each other they talk over this peer-to-peer now layer um that PHP layout at the moment has uh is is working very very hard um and so we I don't think anyone really expected us to grow to uh however many validators there are now like was it 900 000 or or something something crazy um yeah yeah uh so what certainly 800 000 or something like that and validators so we uh so it's working very very hard so the idea behind this is actually

actually consolidate validators so that you have instead of having um you know multiples of 32 you can actually um just increase a an individual validator um and an increase um the balance on on that individual validator so uh what that basically means is there's going to be less validated or ideally it will consolidate a lot of validators so that they'll be actually um the the growth of validators um will you'll probably like stabilize or come down but the state eth amount will still go up because we're actually taking more on the individual validator

um in that way it actually reduces the amount of network traffic that that needs to kind of like happen so that that's the um there's also there's also some other benefits it feeds into like Single Stop finality and a few other um kind of roadmap things as well um but yeah that so that's quite an interesting proposal and obviously it does have you know some effects on us um because we kind of assume that it's 32. um we have you know we don't we don't uh well we've got code in there to you know adjust if that number changes over time but not necessarily you know that it's Dynamic uh so we we kind of have to think about that a little bit and that's

why we we workshopped it and to see what that would kind of look like um going forward if that if that was to kind of happen um yeah so that's that's that was that one's the max effective balance right yeah uh so there was actually a period where the network lost finality two months a few months ago now uh that in the postmortem it wasn't exactly clear what it was but one hypothesis was that it was part of the peer-to-peer messaging layer that was overloaded and part of the X point so that sort of helped uh reignite the spark to lower the the burden on the peer-to-peer

Network another interesting to note is that holeski the new network is going to be launching with something like 40 to 60 million each staked um are proportionally so a much higher load uh probably to make sure that the network is more future proof in the testing for rocketpool it seems like max effective balance would a max effective balance increase would fit nicely into Mega pools although would not at all be required for it and also I'm curious on your thoughts or sorry what transpired in the conversations on led4s because uh as to my understanding that will require

forced exits to be safe or quote unquote safe to our current standards of safety for our eth holders so from our so okay so the the as you said the max effective balance thing works very very well with Megapolis um and so uh that that kind of like timing is actually pretty good I think the only thing that we really need to do to adjust to that is uh maybe just design um with that in mind that that could happen in the future and so that's what we're going to be doing with Megapolis um is kind of just designing with that in my the max effective balance could go

you know it could be dynamic uh which is what I was kind of saying earlier around uh the it being a ratio of the balance rather than the actual balance so that's that's the stuff that we were working on um in terms of leb4s um like leb4s uh we we've kind of like come up with what we think is technically possible um now with with the introduction of megapools we are Keen to do leb4s if we can um at this stage with releasing so this is we need this is why we need to kind of like still go through the process of um of like the community review and all that sort of thing

um but when we're releasing Mega pools it makes sense to release led4 was at that at that point in time as well right right um now when you consolidate when you consolidate your your stake um you know in a in a in a mega pool it means that we can we've got that protection um because one of the other deliverables for that release as well is the uh the execution layer kind of like penalty system rework um and so you know uh that can then take Megapolis into consideration um and and kind of have a much larger pool on which to um uh to ensure that people aren't

stealing you know execution layer Awards now what led Force looks like is Up For Debate and that's why we need to go through this community consultation so one of the things that it may end up being is not quite as not quite as led Thor as we thought so leb4s may actually be something that's accessible one once you have an eight eighth mini pool for example because because of this execution layer risk execution layer reward risk leb4s may only really be accessible once you have you know a an 8th mini pool in which case you can then do four eighth mini ports after after that um and that's that's mainly just have

enough kind of collateral that if people were to steal kind of like execution rewards um a particularly large kind of like Meb blocks um we can make sure that they don't do that so that that that is kind of what we're working on at the moment uh the work that that Ken is working on and a few other people in the community are kind of like discussing um around this kind of like Dynamic collateral limit that's also uh kind of um in the mix so whether it's going to be led4s or whether it's going to be ledx I don't know yet but it'll be it'll be some sort of it'll be some sort of uh kind of collateral potential collateral

change um so that's what we that's what we're we're working on um and uh and that it's still going to go through that kind of like I mean it's still a little way away and we're like Saturn is like into next year so we it has to be after um uh Cancun or dancoon or whatever whatever you want to call it um the the kind of next ethereum release so it's going to be after after that because we need um uh eip4788 which is the beacon State Route we need that to for all of this good stuff to happen um so once that goes once that's live we can actually you know get this other thing out and get sat now so uh so we've

got a little bit of time to kind of like design it right um but that process is is kind of like kind of happening that's why we got those design documents out um and that's why we will kind of continue on that discussion of you know getting um this information out so we can get that that discourse happening that design those designs kind of nailed over time yeah I think the community is really starting to uh sort of a focus in on Mega pools and that environment as the next evolution of rocketful it's almost like a rocket pool version two who's going to be releasing it's a ground up redesign eventually uh in in just a far more

efficient manner in every single way so something very much to look forward to I mean it really it really is um and uh I know Kane got very very excited when he was working on like going through the the mega pool stuff he he got very excited because it it you know it simplifies a lot of things and there's a there's a little bit more complexity in there in some things um but it really does uh kind of simplify things it also um well four seven eight eight also makes things so we're in that satin release again with Megapolis uh it starts to it starts to remove some of the Odell duties as well so like the

scrub period for example is gone and it's not gone there is still a scrub period um but it's just not done by the uh it's not checked by the Odell anymore in Saturn um and so uh and like Bond reductions are not checked by the Odell in in Saturn either and so the odor are not involved in those processes anymore um and so you know yeah it starts to become um uh very very exciting foreign for Rocket pool so before we get to Saturn we will have of course Houston and part of Houston will be the pedial voting uh is anything is there anything left to do in regards

to Pita voting or uh yeah like what is the the status on development for it seemed like it was pretty out uh when Kane's repo was out it's so in terms of like the voting part I mean there's still the discussion around there's still an awful lot of governance stuff to do which we're which we're kicking off at the moment um uh and so the actual Pig L like voting um mechanism is is pretty much built um again we'll go through the the kind of like RP process in in terms of that as well so uh Kane's actually writing up the r Pips for

um for the pedal voting thing now so that we can kind of you know get that through and and get people um kind of understanding um how it works and um you know whether we need to make any changes to it and that sort of thing but uh it's pretty much the the PDL voting mechanism is pretty much built uh the the element that he's working on at the moment which um we're creating a separate our bit before is the treasury management stuff um and that requires a bit of community consultation on you know what we should kind of like support in terms of that we've got some ideas around you know uh this the scope of of that but we want to kind of throw that out to the community and make sure that we've kind of like

covered things um and so that's uh that's like the treasury management stuff that's the part he's working on at the moment the next part that we've got to do is go through each of the pdow parameters and just make sure and just basically categorize them as either we're going to like hard code or we're going to um give to the you know the pedow um to be able to change um or um what's the other thing oh or we give to the pedial with guardrails or you know that sort of thing so it's basically just categorizing all of those parameters to make sure um that we you know we have a the US and the community kind of you come to an agreement on what what things we we want to be able to change

the other side of a minimum viable on-chain governments governance yeah yeah it's ultimately an attack Vector the more governance you have and so if we are able to eliminate pdot parameters and just have them fixed I think that's great uh and the whole move towards on chain from uh the current status quo is definitely uh hugely positive uh in in the future most of the parameters should be fairly uh stuck in place and so we uh hopefully will only be using the treasury module as uh IMC GMC things uh particularly in the background

I think I think the only other part left is is that Security Council stuff which uh which again we need to kind of like um go through with the community um the community the security Council um thing would basically only have control over like pausing stuff or temporarily pausing things um and that's mainly just to to make sure that we can respond to kind of like security threats and that sort of thing so like pausing deposits and and that sort of stuff so um so yeah that's that's the last I think that's the last piece of of that um of that of that part then there's a there's a couple of other things in Houston that we've earmarked

um but again uh we need to go through the Kane will probably um continue kind of like working on on that stuff um while the governance um will be kind of like sort out the governance side of things um uh in terms of what's actually going to be in the release for for Houston so we've put out what we think is a you know technically feasible um uh kind of like scoping but obviously the we need consent from the from the pdao in terms of um of you know what's what's actually going to go live and in that release um yeah so that's what that's what we're working on now great yeah that uh over you posted overview you posted in governance was uh

fantastic and I uh recommend people who are looking for a concisive overview of what the team's priorities are to give that a read so an interesting thing that happened was that uh the re token is now the arith tokens Oracle is now available on base is that correct yeah that's correct yeah so it's the it's what we call like a rate provider um the idea there is usually it's hooked into kind of um uh actually it's balanced usually balancer balancer needs um a rate

provider to configure one of their meta stable pools and so that um you know so that we we can basically have an R8 or in this case it'll be rewe uh kind of pair on on that L2 and so um yeah so that so that's been kind of deployed and that's um kind of like projecting the the price um onto that chain yeah hopefully we can get the IMC to take advantage of the Oracle and uh incentivize some liquidity base has definitely been doing some impressive numbers as uh coinbase brings on a new cohort of retail on chain we definitely want them to be getting their hands on

hearts moving on to governance the winter mute uh defy governance digest featured uh the ongoing tokenomics discussions in the community uh for those who are unaware there is a proposal being worked on to change the way RPL inflation is handled instead of a linear distribution from 10 percent of node collateral stake as RPL to 150 percent it would be turned into a slope so there are diminishing returns on incremental

RPL State this proposal has been generating a quite a bit of buzz in the community as it's had numerous revisions that numerous parties have made their stances on it and it's cool to see wintermute picking up on the lengthy governance process of refining this article I'm curious has the team uh I don't believe they've weighed in on the debate yet uh I'm curious how you think about the idea of tokenomics changes in general uh if you don't want to comment on this specific proposal yet uh so in about uh was it 55 minutes we

have a workshop on on that on that on that very on that very topic uh so so no I can't I can't really comment until we've until we've really kind of done it done that um but we will be um we will be putting our uh kind of like opinion um you know well we will be raising that kind of an opinion uh on that um in on the governance Forum uh ideally it might not be I'm trying to think it could be it could be tomorrow but I'm either failing that early next week sweet yeah um it's going to be very important of course just to hear the team's opinions

uh the the team is going to have to vote in governance just like the rest of us ultimately uh but you guys have a very unique perspective being the ones who built the damn thing to begin with so yeah the this idea was originally quite divisive but has since sort of muted as uh it has developed so but very curious to see where the debate follows from here feedback is being saw on uh diversifying the GMC treasury into usdc approximately I believe 20 of inflows this was posted by Dondo and was then picked up by

blockchain.news who uh gave a pretty decent overview of the idea generally speaking I think diversifying into usdc makes sense given we deal in a very volatile ecosystem and the GMC in particular is tasked with essentially building out uh pseudo-employment for the Dow and employment generally requires us to build stability in pricing and so being able to have a multi-faceted uh budget to work with would definitely be handy so I support the GMC in this endeavor I think that news article was mostly

accurate as well which is always good but not guaranteed yeah that's impressive uh you don't always find that especially given how many AI generated articles are there are now many such cases uh related to the previous topic we mentioned there are two polls looking for feedback uh on that sticking rework proposal so definitely make your voices heard there a proposal was put out to the Dow to feature its metrics on an aggreater platform uh there have been a variety of these types of proposals but definitely

worth checking out some pretty big news out of the GMC again is that uh sorry this is was actually prior to today's big news but there was uh some pretty intense discussion about how RPL retrospective rewards should be handled in light of uh what happened with the cap on payments due to all the Fairly restrictive cap a large chunk of retroactive rewards from early periods uh went unpaid uh or I should say partial paid as such the RPL token

uh drifted quite intensely from the initial point uh and so the GMC ended up recalculating rewards for those who were put in sort of a forced hold situation to account for the USD price that was originally that would make whole the original amount that they were owed uh at the time most pain many of the payments or our grants were priced in usdc and I'm biased as one of the recipients of a enhanced payout but I do believe it was the Equitable outcome

this payment actually you did go out today so all the retrospective rewards uh finally may had their Awards cleared uh amounting to nearly four hundred thousand dollars paid out to uh just a huge swath of really huge projects for the community including uh rocket watch uh rocket scan uh Rocket Fuel patches foreign acts myself and just a huge number of uh ways to support the community finally being delivered good to see I think there's a curse on the bi-weekly

update that as soon as it's written and published I'm just like the smart node there's a usually um some big developments in the following few hours so right yeah just like right after Joe releases a smart node update there will be a guest patch or something yeah this this morning it was it was never mind but that was another one this morning so in other news a snapshot vote is currently live uh that is a challenge to a previous GMC decision so this snapshot is weighing in

on whether rocket split should be funded by the GMC uh make your voices heard rocket split is a tool to enhance whale marriages these are unions of parties two parties where one party is providing each and the other is providing RPL uh which was originally I believe developed by Ramada but it has since become a collaborative collaborative effort uh and so yeah it's nice to see I believe the community seeing a project that they believe should have been funded and uh doing the process to make that happen

as it stands this vote is uh just shy of Quorum a few hundred away and is overwhelmingly in favor or abstain so uh as long as it hits Quorum it looks likely to pass an overrule the previous GMC decision tons of giancinis today Switching gears now to the world of Integrations moving from the realm of GMC to IMC there's been a ton of updates as usual so Pendle a pretty large LSD Phi platform has announced support for arith

on optimism uh Pendle is a great place to trade fixed term fixed yield instruments on our eth so you can sell the yield on arith and split it into two tokens and then LP these tokens for greater yield if you would like equilibria up yep I was just going to say um I think it was the previous Community call or maybe the one prior when we were talking about optimism and the potential for a long list of Integrations and we have is it three on this bi-weekly um so yeah a lot of progress and

Integrations being made on that L2 yeah optimism definitely feeling the the effects of the the oracle uh two of those the remaining two optimism Protocols are first vmex Finance uh vmx allows users to borrow against LP positions from velodrome Beethoven Aura urine and curve which means on optimism users could borrow against their res Beethoven pool which is currently being incentivized by the IMC to do some recursive yield farming yields for this type of strategy can be

quite High however these platforms are notorious for getting attacked uh in by Oracle attacks given that these LP tokens don't usually inherit the safety Oracle safety of the underlying tokens so if you are going to be borrowing against LP tokens make sure you are familiar with the architecture of the protocol but again that was vmx protocol on optimism our last optimism protocol is equilibria finance they uh uh are a similar type of protocol to Pendle but they are more like the pen

pie where or the aura to balancer pen pi to pen pull sorry Pendle uh equilibria is building on top of Pendle on optimism so just another stack of yield available out there for our eth holders speaking of building stacks on top of other protocols uh mellow protocol is an auto compounder built on top of pancake swap so our eth is currently being incentivized on pancake swap so if you want to you can make your position more efficient by taking advantage of Melo protocol a fairly large protocol notional Finance

pretty old as well they were one of the Pioneers in fixed income type products for D5 have announced that they are supporting arith on arbitrum you will be able to borrow against your re in their fairly unique leverage positions they are offering up to 10x collateral sorry 10x leverage on our eth I believe against USD and eth uh as always Leverage is quite risky you can lose all your money especially if you're not paying attention to your health factors yeah at the end of the day whether it's crypto elsewhere there's really no

escaping that risk reward trade-off is uh right no free lunches but um still some exciting opportunities there and um tiny little cram um we have been chatting with emotional and for this launch there I believe planning to have a beta type initial release and we may be able to get um some access on an invite only basis if anyone in the rocketpool community is Keen to have a little play around and check out what opportunities National are going to make available for arith holders so watch this space you know a little birdie tells me that

it's not just Aries that they're going to allow experimentation with something tells me they really like the rocketpool ecosystem so if you have either rocket pool asset I suggest jumping on that beta opportunity Seneca Finance has announced that it will be supporting uh our eth as well I'm are you familiar with Seneca uh briefly this is another um case of uh LST collateralize stable coins for which we need a better acronym

but they are going to enable the minting of sin USD that doesn't sound sketchy at all but it is permissionless to build on our eth and I wish their team the best it is a highly competitive market there are many stable coins building on top of lsds of which personally gravitas my favorites but uh happy to see more people adopting Aries yeah we have a bit of a call out a little bit further down the list of Integrations but with um mentioning it here as well of course uh the featuring of any integration here

is not an expression um of support necessarily and it's always important that um everyone does their own research especially when it comes to new or innovative solutions um check out the the risk parameters that that may exist D5 llama is usually a good place personally use that quite a bit they'll tend to have any protocol listed there along with links to Audits and TBL and history and all that good stuff so whatever way you'd like to do it that is um a step that you should not skip when it comes to default Integrations and remember not all audits are made the

same like I can't remember who the the worst criminal offenders are but there are some Auditors that will just run a buzzer on your code and call that an audit um no was it Pig Shield that recently reported reported on an exploit that um that they didn't pick up in their audit of the impacted protocol that was a an interesting one um and then what's the other let's get the other one um that tends to get a bit of uh unfortunately bad coverage but yeah exactly

um if you want to see a list of some auditing protocols that have been audited and yet have still been hacked check out the rec feed wrecked dot um info or I believe wrecked.news uh on there you can see a list of they have a leaderboard actually that goes through the biggest protocol exploits and you will see some repeat auditing firm names but uh that's a bit of side tangent getting back to our bi-weekly uh actually this is right on topic because

we have a exploit to discuss balancer at a vulnerable balancer had a vulnerability that was a reported actually and because it was reported in a professional manner they were able to inform the community and essentially no value was exploited we saw a sizable amount of liquidity leave poles on balancer including those of which arith was part of the pool but uh since the days of the vulnerability being released Authority informed to the public we have seen a return of

liquidity as a the all clear has been given but yeah it goes to show it can be the unaudited random protocol or it can be one of the core defy protocols exploits still happen this is sort of the risk we take in DFI as we build towards something better it also kind of like shows the value of a of like a bug Bounty program you know where that can actually that can actually come through and not um you know not and maybe a controlled kind of like disclosure rather than uh rather than have it being picked up by a black hat

especially because this was essentially critical where the the person who reported it was turning down is a bit strong but choosing not to be a criminal and make a way with hundreds of millions of dollars it helps when they have at least some decently sized reward uh to help dissuade them from it we all make that choice every day so some protocols that uh already have res Integrations but continue to put out some great content include Factor doubt uh Silo finance and myself Finance

the latter two of which are some pretty Innovative Innovative lending profile uh platforms that have been long-time supporters of arith on miso Finance you can actually go and I believe uh is the platform that allows you to borrow RPL against arith in an isolated Vault uh so as to remain delta neutral on a mini pool and not have exposure to other lending markets but yeah all three of those are great protocols that continue to show support to our eth bit of an integration slash media

crossover there that makes a good segue into the next and final section I think yeah that's right as we move on to Media stuff as I mentioned earlier schifrin has been working on a poet Quest series uh the first of which was actually uh to try and get my Twitter account unpanned uh unfortunately that one didn't work I remained bad but this new account is here to fill in the gaps and shifrin has continued to release fantastic collapse most recently for uh the latest smart note update Rock

according to rated.network Rocky pool mini pools have been earning the highest uh 30 days looking back a 30-day backward looking APR uh in the ethereum ecosystem that's pretty cool to to know and arith in turn has been performing quite well rated.network is probably the best site to look at some Network stats as per as it relates to staking yeah when it comes to APR and then the other one is protocol growth and we mentioned from time to time that obviously there's different ways to look at these things in different ways to

measure performance um so this is an example of a set shot on time and you know not necessarily indicative of a trend going forward but still good to see different protocols may cut sorry different I guess um websites May calculate this slightly differently and then also I believe they missed also featured different liquid staking protocols on on that list so um whether you're looking at rated Network or D5 llama and there may be some variations there but regardless rocket pool and NRS have been doing

pretty well and that is thanks in part to the Natural variation that we see from the execution layer awards for arith holders that gets uh kind of averaged out automatically across um across the token so there's no need to be concerned about playing that Lottery of course I'm no lockers has smoothing products you cannot do um depending on whether you're more to a gambler head or a little bit more consistency in your rewards there's auctions for everyone it was really fantastic well it was it

both was and was not fantastic to see those Mega Blocks come into the smoothing pool on one side it's tragic to see an exploit happen in the wild uh on the other side if it was to be distributed to a group of people I think the rocket pool node operator Community is a great people for it to be distributed amongst those announcements are definitely a bit of a rollercoaster when you see them pop up um the initial excitement followed by where did this actually come from what's going on right it's like you see the the the block come up and you're like oh yeah yeah block oh no a block

uh it's always at that size it's almost always something bad so rocketpool was actually hosted a panel discussion with a special guest from blocks route and all nodes uh and I believe you guys touched on some of the topics we talked about earlier uh scaling rockpool into the future uh and the like is that right yeah exactly and some uh some kind of relevant news from The Wider seeking ecosystem this is the third of these panels that we've done if I recall correctly the previous two were around

um have not of all events I think one maybe was shortly after the merge and maybe one after withdrawals but uh our intent was to make it more of a regular series at a monthly Cadence and um between the the three protocol companies um it's a good kind of cross-section of the staking World different areas of expertise and maybe potential to get um guests on as well like we do with these Community course so once uh we're out on the other side of Singapore which is going to be a busy couple weeks we'll look to schedule another one in towards the end of um

September and we can recap on all the happenings during that month yeah the black Blackstrap team especially are fantastic and just a joy to talk to they they understand ethereum so well and I feel like you can learn something every time you talk to them there was also an AMA with the SSV Network folks uh language do you have any updates on how the DVT world uh intersects with Rocky pool or it seems like we were at a place where people are sort of testing some of these things out on testnet but has there been any movement since

yeah I think there's there's definitely there's movement in in the sense that um uh we're starting to see people kind of integrate the different software components into into the rocketpool stack and so we're definitely seeing um that um in terms of like further um things so that will enable like a a node operator to kind of like use it themselves the one thing that we've been kind of looking at is like the squad staking thing which is um basically a group of trusted friends running like a DVD um kind of thing between them um they're still there's still a little bit that we need to do to kind of like

support that um so it's definitely more it's something that will kind of progress in in the background um and then there's kind of like you know where the DVT is going to help with the protocol itself I mean that's definitely a long-term discussion um there's not quite um you know there's this DVT is is is really great in a in a a trusted environment when you try and throw a permissionless environment at it you have the same kind of like problems uh usually Sybil um kind of like issues and that sort of thing so uh we have to we we're kind of like taking um one step at a time um and kind of um doing little bits and pieces and to

kind of like keep moving um that along I think rocketpool is also in a nice position to sort of watch the market and learn from what the market does and uh you know we exist in a open source world where uh copying competitors isn't necessarily a bad thing especially if it's a successful attack tactic so uh if we see a protocol that is able to use it effectively in a similar system manner that could potentially inform the future design architecture of rocketball so yeah interesting world and uh curious to see uh it play out

a spark protocol contributor spark protocol being the new protocol spun out by maker Dao uh has been pointing out that arith can be leveraged pretty uh profitably on spark you can hyper stake or leverage stake or fold your re whatever title you prefer for uh the current APR of about three and a half to four percent on re and a borrow cost of 2.29 which is some of the one of the lowest in the network uh while because it's this low you can actually

fold and make a profit based on the the spread between borrow cost and our eth APR uh at the same time I believe spark is uh going to be doing an airdrop in the near future I don't know how near but in some future situation uh and so you could probably Farm the airdrop by uh folding your re there so definitely worth checking out there's also been some content in the crypto sphere uh mentioning rocketful including from uh you today and crypto

Atlas so if you want to get some good reading for Rocket pool check out those articles lastly RPL was listed on any coin direct but similar to our warning earlier about D5 make sure you do your own research on Central centralized exchanges too but yeah RPL is now tradable there and with that we just about have covered all the news items for this bi-weekly it has been a pretty busy one

yeah good to see a lot of uh news items from the rocket 4 ecosystem I'll take the opportunity to call out a few things here that are not listed in the bi-weekly as we usually do future Community calls will we scheduled in the event section of Discord right now we don't have any but there's three four five in the works going through to the other side of Singapore and I believe next week potentially you may be back on Jasper with a an interesting guest special guest yeah now that will definitely be one

worth tuning into we'll uh hopefully get the announcement out soon team to give people a little bit of time to schedule but I'll reach across the pond and so to speak yeah um the following week will be reporting live from Singapore I guess that happened very quickly and we're going to aim to get a guest who's also attending Singapore on um that will be a bi-weekly week too and um the week after I think Lance and I will still be in Singapore so um yeah there may be a little bit of a

shift due to time zones that thankfully Singapore was only two hours away from Australia so that makes sense a little bit easier but yeah check out um the event section as we get those loaded in looking forward to it I think Singapore is going to be a great opportunity uh for Rocket Polo just to get the name out there to maybe a new cohort of people as well as uh see what business development is available there from what we've heard there's going to be a pretty strong presence from the

tread fire world um especially for the Apec region so it would be also a good opportunity for us to uh kind of get up to speed with with what's happening in that side of things and how they would look at East staking and decentralizing in particular so it'll kind of be going both ways helping to get the word out as usual opportunity to network and meet some community members in real life but also that learning experience should be good yeah definitely something to look

forward to uh wish I was there that sounds like a great event to to be at Singapore is a beautiful country so uh in this bi-weekly we covered a variety of topics we started with an overview of eigenlayer the nebulous world of restaking some of the possible benefits and risks associated with it and how rocket pool may fit into the equation at some point in the future from there we took a brief tie raid into the world of Mega pools the upcoming Rocky pool upgrade for the next part for but the one following that uh Den Kun in which rocket pool will essentially be

redesigned from the ground up to maximize efficiency across the board and instead of having all of your collateral and silos it can be connected uh just scaling rocket pull like no other from that we moved on to discussing uh some of the recent news events including Rock pool passing 25 000 validators uh version 10.2 10.0 sorry version 1.10.2 was released so make sure you update to that and claim your app we talked a little bit about the workshops and around led4s and maybe something called lebx or just this broad

idea of a bonding curve for your collateral as well as the max effective balance and how that might impact the protocol bangers gave an update on pedal voting and how treasury or the how treasury is handled remains one of the remaining uh items to be completed the base exchange rate Oracle Ferraris is now live uh so look out to that Network for some future RV Integrations in the world of governments we saw some news reports covering the tokenomics discussions uh and we had a bunch of talk around the RPL staking uh reward rework potential

there was also a proposal put out on the Dow about a aggregator for a metrics platform and discussion about how RPL rewards should be denominated which were then eventually delivered a snapshot is live about whether rocket split should be funded or not this is a challenge to a previous CNC decision we saw a wide number of Integrations on optimism including from Pendle equilibria and vmix mellow protocol on mainnet is a auto counter compounder for the pancake swap re beef pool notional launch support for arith on

arbitrum and Seneca as well announced that they were planning support we briefly discussed uh the pertinence of audits in defy as we discussed bouncers uh vulnerability that was reported lastly and then we moved on to the world of media marketing where we discussed schifrin's Co-op Quest series uh the fact that Rockefeller mini pools have been doing quite well in the 30-day backwards looking APR uh the blocks route all nodes uh panel discussion which is now a semi-regular panel discussion

and a tweet from spark protocol contributor highlighting how Ari folding on spark is one of the best if not the best places in the ecosystem we also saw Rocky full featured in some crypto content from crypto Atlas and you today as well as an RPL listing on anycoin Direct that was their bi-weekly update thanks for joining us good to be back on X Twitter and I'll look forward to chatting with you all next time thanks very much jespa thank you everybody

cheers see you guys foreign