Vesta Finance live, 10 billion DAI and more - The Daily Gwei Refuel #311 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily great refuel where we cap the latest news and ethereum ecosystem i'm your host anthony sosano and today's the 9th of february 2022 all right everyone let's jump into it so basically today i put out a tweet and this is the kind of like topic of today's newsletter where i said 99 of people who own crypto never use the product that the coin token is associated with they buy things based on narratives usually spread by the big boys of the world this is who you are trading against just being encrypted twitter puts you ahead of almost everyone now first off i had a few replies to this saying that the bit boy fans and other kind of like youtubers like big boy fans are on um crypto twitter i'm gonna be honest guys i don't actually consider the bitboy crypto

shillside part of twitter crypto twitter i consider crypto twitter to be the fundamental side right and that's a very kind of like small circle so i think that the definitions kind of get kind of got a little bit mumbled up there or jumbled up there but yeah that was kind of like my point there but i guess my overall point is that i've explained to you guys that people kind of like buy these tokens and coins on centralized exchanges keep them there and barely any actually end up using the on-chain products you know i've seen some estimates of there being hundreds of millions of people that have you know own crypto on a centralized exchange and that's all well and good but that doesn't mean that they're actually using the on-chain products and most of them haven't you know if you go and look at

some statistics around this so the total number of unique ethereum addresses is eight uh 187 million um at time of recording now we all know that people have multiple ethereum addresses it costs nothing to create and uh create an ethereum address there um i mean technically all ethereum addresses are already created but it basically costs it costs nothing to kind of like have have a new one besides like the fees i think the way um ether scam registers it is that you have to like at least have had something interact with the uh on chain with the address before it will actually actually register it because as i said technically all ethereum addresses are already created it's just when you interact with it it means you've got the private key for it all that good stuff there um sorry 187 million and i mean it doesn't cost nothing but it basically

just costs the gas fee or costs an exchange fee to withdraw some some ether tokens to that address to register it um now in saying that people have many many different um addresses like i alone probably have used oh god at the very least 50 addresses just just on my own that have actually had on-chain interactions um not to mention all the centralized exchange address ethereum addresses that i've used over the years which i don't count as part of that 50. you know um you can have multiple addresses on some exchanges and they are definitely counted in that um not tim and then you kind of like take into account like all the bots and things like that really realistically the amount of individuals that have an ethereum address is is quite low and i actually think a good way of um

i guess like measuring super active individuals or on chain individuals is ens names now i think last time i checked uh ens names that were actually tied to an address and resolved to an address was maybe a couple hundred thousand or something like that um so i think that's a pretty accurate kind of i guess measure of um or people on chain at least in the ethereum ecosystem obviously there's other ecosystems but you know if i had to kind of like take a stab here of monthly active ethereum kind of like users or monthly active on-chain users we have stats from metamask where it says you know there's there's tens of millions but that was during like i guess the the the months where the um the market was very bullish today if i had to guess like the the the um

the active users over the last month of any chain probably a few million maybe maybe at that i mean you know it could even be much less than that given that the market quietened down a bit and i would actually think if you're counting a lot of um the people who are using metamask um to connect to kind of like other chains especially to things like bsc which was like a retail casino if you take away all of that yeah i mean i i wouldn't be surprised to see it even at less than a million of on right now you know because the market's so quiet so taking that all into account the 99 figure that i quote here is rather accurate and it's probably true it's probably not enough because 99 uh you know 100 million minus 99 is like around a million right so if you kind of

like take that as a as and extrapolate that out there's probably more than 100 million people at this stage around the world that have bought crypto in some form or another i think from estimates that i've seen but as i said most of those people have never used anything on chain and you know i've got a perfect example here that i thought of before cardano went to a hundred billion dollars in market cap without smart contracts i if i remember incorrectly which means that you couldn't do anything on the cardano blockchain except for sending assets uh sending ada to and from i guess like different addresses and most of the time the ada being sent was done for arbitrage between exchanges and all that sort of stuff there and maybe some people kind of like we're throwing a cold storage but not not very many

so from that perspective there were probably millions of people who owned ada because it was just like retail's favorite coin like i'm i had my friends dads asking me about it they didn't ask me about ether they asked me about ada um so so from that perspective they would never use anything on chain by the way they're literally on like the most centralized of centralized exchanges buying these stuff based on you know a newspaper article that they read like funny enough right or or some kind of like mainstream article that they've read that is to me the perfect example of you you're kind of like i guess token or coin can have millions and millions of holders with near zero users which is quite i mean amazing when you think about it and it kind of like illustrates just how early we are on the on-chain

side of things and it kind of illustrates how you can't just look at people buying kind of like crypto assets as an adoption metric i actually don't think that's a great adoption metric it's it's fine for the prices and it explains why the market gets very very very ahead of the tech but it doesn't give us any kind of accurate indication of on-chain adoption now of course if in the future a lot of the on-chain adoption is done by our third parties and kind of like centralized intermediaries such as the exchanges offering um i guess like windows into d5 and they're just using one address to process all of this sort of stuff then it's going to be even harder to measure measure that but in terms of like actual on-chain users doing it themselves there's not that many people and that's a major reason why we're still early and

as i said a major reason why the prices um get very very detached from the actual on-chain usage so i just wanted to kind of like highlight that something definitely to think about and keep you kind of like um keep your eye on when i start seeing this kind of like shift that's when i'll i'll i'll start thinking that way you know not early anymore but this shift is going to take ages i mean you know like let's be frank most people get into crypto to make quick money they don't give a about anything else initially at least when they first get in like most people some people do but most people don't right most people or at least pretty much everyone that has ever asked me about crypto in real life donut doesn't doesn't lead with the tech they lead with the market side of it they say oh

you know how do i invest or what should i put my money into or you know kind of kind of like what exchange should i use all that sort of stuff it's never you know what can you do with this technology what does it enable like what's different about it compared to this blah blah and that's fine you know some people i i kind of like get that side of things like and and to be honest like not everyone's gonna be interested in this sort of stuff but i mean it just kind of like illustrates to you the point that i'm trying to make here is that there's a massive detachment from who's actually buying crypto and centralized exchanges and holding it there and he's actually using on-chain things so you can go look at any metrics or stats that you want for on-chain stuff

you can use doing analytics nansen uh coin metrics um glass node any metric you want for on-chain stuff and it'll show you the same kind of like picture that i'm showing you that on-chain users are very very low and some people might say oh this is bearish right like where are all the users i think this is bullish guys it means that we still haven't even tapped into really the early adopters of this sort of thing yet and getting them on board which means that we have so much left to build there's so much opportunity left there's so much opportunity for you know if you're doing unchanged stuff for you guys to make outsize returns because you're trading against these people and trading against doesn't mean that you're actually kind of like um directly kind of like shorting someone that going along on something or longing

something someone short on it what it means is that you're able to get into things much earlier than other people are and you're able to ride them up uh if you know obviously if you hold and you have conviction on it before someone else discovers it and this is exactly what happens with pretty much everything like eighth for example you know for for the longest time eth kind of like stayed below i guess like 10 20 right for sin you know went live mid-2015 it was still 10 early 2017 and then it obviously blew up and all those people who kind of like adopted you know early on and actually even sat through things like the dao they were laughing if they just held and didn't didn't sell obviously it was very hard to hold during the dow and stuff like that and it was a very different time back then

but same applies to 2019 and you know 2020 when when the prices were which were much lower and this applies to so many other things not just eight there's so many instances of these guys where the alpha the real alpha is just doing on-chain things you may not you may think it isn't but i believe it still is and i believe it will be like that for for quite a while now um at least it will be kind of like in bull markets right now it's still a bit of a pvp environment as i discussed the other day where there's not many kind of like retail users flooding in or anything like that so it kind of becomes just the same money sloshing around which can be quite quite shitty and quite hard to kind of i guess like play around with but if you're a long-term investor you don't

really care for that sort of stuff so so yeah anyway moving on from that one on to the next big piece of uh news i guess like the biggest piece of news of the last 24 hours was that two people have been arrested uh in relation to a uh massive uh hack that happened in 2016 to the centralized exchange bitfinex so this was huge news back in 2016. i believe it was 120 000 btc that was stolen uh current worth is 3.6 billion dollars which is obviously a massive amount of money now for those who don't know the tldr of this is that there was a hack that happened in 2016 they weren't able to ever track down the hackers until today and the way bitfinex actually made up for the loss that they suffered because that was an obviously a massive loss is that they uh socialized the losses so

they cut everyone's holdings on the exchange by 36 percent so they took 36 to like make themselves whole that's what it means by like socializing the losses which obviously for people who had money on the exchange but this is just another reason why you should never keep your coins on a centralized exchange um and then they promised that they would kind of like create a new token called leo and then they would use that token to kind of like repay i guess like that i mean i guess like if you want to call it a debt right or repay kind of like the uh the losses that were socialized there and in the original white paper for for leo they basically said that if the btc was ever returned they would use uh i think um a part of it or maybe all of it or

something to kind of like purchase back leo from the market until everyone was kind of like made whole there at least i think that was the wording of it i may be getting that wrong i'm misremembering it there but um you know that's why i guess like the leo token has been pumping the last few days like uh uh um and you know it kind of like makes sense there but i guess like the other thing i want to talk about with regards to this is just how crazy it is like i'm sure you saw on twitter today all the kind of like craziness especially with the um the woman involved so it's like a it's a husband and wife pair so the wife uh led a very interesting online life she did a lot of different things like she was apparently a rapper she was apparently

very involved with cyber security and and kind of like advising bit go on stuff and things like that so very um i guess like involved life there and uh people were like kind of looking at this finding her tick tocks finding an instagram post and being like how is this person the bit for next hacker um and there was like there's so much around this i mean i'm not gonna rehash it all here but there was so much going on with this today and i woke up to this and i was like what the hell like this is crazy and i wasn't around in 2016. i came in in early 2017 but this hack was talk was spoken about for for a very long time uh because it was just such a big deal and obviously there was the mt gox hack but that happened in 20 uh hack i mean i guess

with mt gox it was kind of their insolvent for a while because btc kept being stolen but that happened in late 2013 early 2014 sort of thing there and then funny enough in mid 2017 there was another major exchange that actually got um got shut down uh btc-e uh where they were kind of like i guess a bunch of russian guys running this and they got kind of like shut down by the fbi for money laundering apparently with funds connected to mt gox these there's been some sketchy history with centralized exchanges um especially in the early days if you want to kind of like read up on this it's actually a pretty fun read but a lot of this is kind of like scattered around some crazy stories of all the stuff that was going on obviously when the industry was a lot less mature than it is today but this is

this is kind of like a big deal and obviously these people aren't you know haven't been found guilty yet they've just been arrested and it's kind of like alleged they did this but uh i guess like um you know the the uh the justice department is in control of these funds so uh i i'm assuming those funds are gonna be returned to bitfenix since they're the rightful owner of them and then obviously the users of bitfinex are the rightful owner of them as well uh but yeah very interesting a bit of news i guess and if you weren't around back then which i'm assuming a lot of you weren't uh just from talking to you guys in the discord channel it seems like a lot of you guys are rather new to crypto at least over the last few years so you probably don't know how big of a deal

this was and as i said i wasn't around in 2016 but this was still being talked about a lot in 2017 uh it was a very very big deal it was i think one of the largest hacks at the time ever since since at the mt gox fiasco uh and bitfinex was was trusted it was um before next was like the btc maximalist exchange and in 2016 it was like just bitcoin i mean if eth was this really small scrappy thing that no one really paid attention to other than you know some some small community um it was really that the the it was all about bitcoin back then still and and bitfenix was where a lot of bitcoin whales traded on a lot of the ogs traded on and yeah that ended up being like quite a big deal there so so yeah anyway i'm not

going to keep going on about that i'm sure you've heard enough about it today i'm gonna move on to the next update so i didn't see this yesterday uh before i did yesterday's refill but i saw it after um apparently coinbase wallets uh their lister extension has launched support for uh trading on polygon using their dex trading feature so you can see here what trading is like using the xerox api on ethereum versus on polygon so this is pretty cool to see i mean on ethereum it'll cost you 60 to 80 in network fee on polygon it's costing you two cents now obviously the polygon pos chain isn't a quote unquote true l2 but i mean at this point i don't think it really matters we've debated this to death i think it's just great that users are able to get

obviously cheaper fees here but uh hopefully this is a sign of more things to come i know this is an integration with the coinbase exchange there's no kind of like deposit withdrawals into into stuff but um they do have promise that they're going to be supporting the polygon pos chain and and things like that uh and obviously other l2s and stuff but you know i know i complained about this yesterday but at least they're doing something at least it's something to kind of like tired us over but i really really hope that more integrations are coming because this sort of stuff is obviously very important very bullish when people see the network of fee has been collapsed and this would be collapsed on a an optimistic roll-up too this same trade should be under five dollars on an optimistic rally probably like two or three dollars right now obviously not as

cheap as two cents but with optimistic roll-ups you get the the security of ethereum um that is going to be like really great for users to see because i think you know i don't know i've had this talk with you guys a lot about fees in the past and how i think there's kind of like a certain threshold where it becomes like you just start thinking in your heads this is ridiculous i don't think two to three dollars is at the ridiculous mark um for a lot of people but obviously it's kind of like way too expensive uh you know for the longer term that's that cost is going to come down over time but i think while we're still in like the super early adopter phase two to three dollars is fine that's going to keep coming down but like 80 is definitely not fine like

that's just crazy um but like people pay it right um but uh but yeah cool to see the coinbase wallet extension supporting the polygon post chain here so a big announcement out of celestia today now i've talked spoken about celestia before there are new data availability layer being spun up they technically are a new layer one block chain so obviously little to do with ethereum i guess on the layer one side of things but today they announced something called celestiums which are ethereum l2 chains that use celestia for data availability and ethereum for settlement and dispute resolution in other words this is very similar to starkware's valydium where the settlement and dispute resolution and proofs and everything are posted to ethereum layer one and the data the the

data that that would be normally posted to ethereum layer one as well is posted kind of like off-chain onto i guess in this case celestia in stark wave lithium's case it's a it's just kind of like their own thing um and you know immutable uses of illidium and stuff like that uh so yeah i guess this is like exactly what celestia is trying to do they're trying to be a data availability layer for for for layer 2 chains right for for things like roll-ups and stuff like that now is it the same security that you get from uh from like a true roll-up no it's not because the data is somewhere else the data is not on ethereum it is on celestia so if something's happens on celestia then uh you're at the mercy of that if the data gets kind of like uh withheld or if the

or if the or if the kind of data gets deleted and you can't can't get it then your funds are effectively frozen they're not stolen they can't steal your funds but they're the funds are effectively frozen so it's a cool kind of like hybrid approach to achieve more scalability before we get things like sharding i think it's a good like short to medium term solution for the most secure things but i i still struggle to see why if you have kind of like cheap cheap data storage on ethereum that you would choose to store off chain and and kind of like reduce your security guarantees here even if off chain is a bit cheaper than than on chain ethereum so we're gonna have to see how that plays out but i do think the celestial will play a big part um in the kind of like ethereum scaling

roadmap going forward i think their main competitor technically is sharding on ethereum as a competitor to that because it's they're both data availability layers but also polygonal veil i i believe is a like a direct competitor to celestia because with polygon avail uh ethereum l2s can choose to settle on that as uh rather than celestia and do the same thing here where they where they are sorry choose to put their data on that and settle on ethereum still and have dispute resolution on ethereum as well still so i think celestia and polygon are direct competitors i don't think celestia really competes with if sorry probably gonna veil direct competitors i don't think celestia really directly competes with ethereum for data availability in that it can never it will never give you the same

security guarantees that ethereum l1 is going to give you uh and when sharding comes along and when we kind of like optimize um layer one for wallops further it's gonna be a tough sell but there are gonna be there are gonna be times when you wanna use off chain data still even though you get cheap on chain on chain data with ethereum and this is definitely for the lower value use cases like most nfts are lower value you don't need ethereum security for most nft stuff and that's why immutable uh x is built as a validium because honestly you don't for like all for like most nfc 99 of nfts you don't need the expensive ethereum security just like you don't need an army to protect you know your everyday kind of like belongings right having the uh having a home security system is is

enough in most cases to protect your belongings but obviously you have an army to protect your nation just like ethereum is like you know layer one is like this nation and that you have the um the decentralization and security of ethereum to protect itself um but like you know a lot of apps don't need that i think define needs that definitely like finance and the things that need like a lot of security but there are certainly a lot of use cases that don't need that and that's where off-chain data comes that availability comes into it and something like celestia are probably going to avail is better than a home-grown solution like with um like with starkware uh and having their kind of like off channel like some centralized servers unless they start competing by issuing like a token and spinning up their own validators and decentralizing that

network that network out which i actually believe they will do and i think zk sync will do this as well with zk porter so there's going to be a battle between these data availability layers and they're all going to use ethereum to settle still so i i think that's actually really cool is that we kind of like get uh the full modular approach here with and it's not just ethereum working on it it's polygon and celestia it's the l2s working on this sort of stuff too and i think that's going to be really exciting going forward so very much looking forward to that um and i guess like looking forward to seeing uh how celestia fares here as well so argent announced uh yesterday that you can now send from major exchanges to argent zk sync and it's 10 to 20 times cheaper than bridging from l1 you can

send from coinbase ftx binance and more using layer swap which is basically a centralized service to get your funds from a centralized exchange that doesn't that either support or doesn't support uh layer twos yet and getting it directly from their two layer twos now as i said it's a centralized service so it is for as far as i know it's custodial so essentially what you do is you send like your funds from the centralized exchange to like uh you know going through layer swap and then layers will kind of like relay it for you so it's a good like middle ground solution it's it's definitely another middle man but i think it's kind of like it's fine but i do wonder with you know what kind of like um what what the future looks like for layer swap when these centralized exchanges all natively integrate with these l2s but maybe they

are very slow to integrate with the long tail of l2's and layer swap can kind of like have a um have a kind of like foot in the door there but there are i guess like fees associated with this as well i think there are caps on it too but uh yeah it's a good solution it's a good solution if you want you know if you're desperate to do this and especially for kind of maybe lower value transfers because i think there is a 0.4 percent kind of like fee on it so for example if you're doing like a 50 transfer from a centralized exchange to a layer 2 it doesn't make any sense to go through layer 1 to get there because the fees are just going to eat into everything but with a 0.4 percent kind of like flat fee it's it's it's basically nothing

right it's like 40 cents uh or probably 20 cents i think of that 50 dollars whereas if you're doing like a uh i guess what a ten thousand dollar kind of um transaction there i'm just doing the math in my head right now uh it ends up being kind of like i think more expensive uh or at least a ten thousand dollar one yeah i think ten thousand or maybe even it's like a hundred thousand dollars or something it's just depending on the percentage date it ends up being more expensive than just going through ethereum layer one and also the extra risk that you're taking on is probably not great and as i said there's caps on it so you probably can't like um uh there's uh limits on the amount of funds you can send through so you probably can't do it anyway but

still this is cool for like the lower value transfers for sure and just getting some you know 100 bucks into l2 just get started playing i think that's really cool that uh this service exists here and that argent is integrated with it so uh last on the things to talk about with l2's pratik here has put together a list of people builders and projects active in the starkware ecosystem so you can go to this starkwear ct list and look at all the people and and projects and stuff that are involved you can follow this list here if you'd like so this is a great way to keep up with the starkware ecosystem and as you guys know the starkware ecosystem has been growing pretty quickly lately with stock.net and things like that so definitely go check out this list if you want to keep up

with the idle buildings in the youtube description below so alchemy has announced another fundraise i think they fund rose like two months ago or something like that anyway it's another 200 million dollar raise which puts them at a 10.2 billion evaluation and the race was co-led by lightspeed ventures and silverlake so i guess congrats to the to alchemy here huge race for those who don't know alchemy is uh infrastructure for for blockchains essentially it's an inferior competitor where it provides kind of like node infrastructure in order to relay transactions and in order to kind of like present information to certain people and to kind of integrate with other applications that need all this on-chain information this is a big business guys like this is as big as the data analytics business is

um and that's why the valuation is so high here uh they can i you know the funny thing is it's so specialized and this data is in such high demand that they can probably you know um charge a lot of money for it and that's exactly why people want their hands on these companies and as you guys know infuria is part of consensus as far as i know infuria doesn't raise on their own consensus obviously rose money uh uh uh sorry raised money recently and i think they're doing another round right now and that funds and pays for inferior basically so uh yeah they're cool to see this congrats to alchemy on this race here um excited to see this is a series c by the way uh series c one i think their last races are seriously as well um but excited to see kind of like uh

excited to see them get more funding here all right so it's finally launch day for vesta finance it is now live on on arbitram so protocol liquidity incentive programs have kickstarted on there uh and whitelisting claiming will be available on feb 9th at 7 00 am pst which i guess is happening uh probably already happened by the time you've watched this video so yeah you can go onto arbitram and play around with vesta today for those of you who don't know vesta is a fork of liquidy uh and and basically what you can do today is you can use i think i believe three different assets uh being um eth ren btc and g ohm to mint vst which is the stable coin and you can see the kind of like clarization rate ratios here uh minimum fee and minimum

redemption fee and stuff like that and there's as i mentioned liquidity incentive programs to participate in there's a pool too a vest that kind of like eve pool here there's uh vesta being the the native token uh vst the stablecoin fracks on curve and there's a bunch of unlocks with whitelist and people have participated in the sale with obviously lots more to come now obviously disclosure here i'm an investor investor uh you guys know that i think that's the reason why you guys even know about vesta let's go put it on your radar but i'm hoping that you guys um you know just have another thing to play around with on arbitrary because i know a lot of you play are on albertson right now on our active on there right now so definitely go check out vesta if you haven't yet so speaking of stable coins maker

announced that dye has achieved 10 billion 10 billion in supply so there's now 10 billion die out there uh which is an awesome milestone right this is dice come a very very long way i think in just in just a short amount of time you know people often criticize maker for being unscalable and for die not being able to scale as quickly as other i guess stable coins out there but you know i think maker has always taken the the safer approach to things they've always taken kind of like the risk off approach they definitely want to build for stability over and security over kind of like speed and scale which i think is long term the better solution but for the short to medium term where kind of like the the i guess like ecosystem is ruled by degens and is

ruled by people who want like fast money fast gains the other kind of like decentralized stable coins will i guess get more traction get more growth but a lot of them will actually blow up a lot of them will not do what they say they're going to do a lot of them will actually lose their peg so i actually think that makers should continue on the path that they've been on with taking the slow and steady and secure approach because honestly maker is one of the only projects out there that i trust putting my eighth into because they've been around for so long i know they uh they take the best kind of like uh practice approach to building their protocol uh they're actually properly decentralized uh because they've actually got like a proper dowel yeah i mean as i said like they're one of the only protocols that i trust my

ether into and that's because of their slow and steady approach when you're putting like your funds into these protocols that are moving fast and breaking things and doing dj and stuff it's fun you can do it it you know you can do it with a little bit of money but just expect to lose that like honestly guys i mean we've seen it play out time and time again i've warned about this constantly i mean i saw people in the discord channel today talking about like how i have been warning for ages how it's really really hard to outperform if you buy another token right and outperform over the long term and people you know it definitely takes your own experience to kind of come to come to terms with this because over time you see even if you're holding like a token from like a project

that you consider to be an awesome project and really really bullish it doesn't matter because all of those tokens have worse tokenomics than eighth and they're gonna be outperformed by eighth and it doesn't just apply to assets on ethereum it applies to assets everywhere and that's why i you know believe that eighth will outperform most things over over the long run even though it's got a larger market cap and then even still even if you buy something that outperforms eighth by like two to three x is the extra risk you took on worth it in that case because you usually have to take on a lot more risk when buying other things and i think in that kind of like case we've seen this play out time and time again it's riskier to buy tokens to invest in stuff it just gets to use these protocols it's risky to buy

the tokens that are associated with the protocols because if something happens to the protocol then the token goes down uh yeah there's all this kind of like stuff that that happens so i think that i love maker's approach um but i guess to be fair the mkr token hasn't really performed well either against eight over the long run and not so well against usd but i think that's a separate issue i don't think that's what to do with um maker and necessarily not not not growing nicely not having good future prospects but i do think it's a consequence of their slow and steady approach because they're not doing djing things for their token they're not doing kind of like pool twos they're not doing um uh ve tokenomics they're not doing i mean there was an idea to do it floated to do it but they're really the only

thing they're doing is kind of like burning excess mkr but uh that's not enough for the market the market doesn't really care about that in i guess maybe the short to medium term maybe the real long term mkr ends up being a good bet but for me i mean i remember someone asked me in like 2019 uh did i hold in the mkr and i said even back then no because i don't believe it's going to outperform ether over the long run and it hasn't it i mean i i think i think it was like two or three eighth back then per mkr now it's like 0.7 or something last time i checked um and i was pretty confident in that because i just saw all the stuff coming for eighth and i was like yeah nah nah this isn't going to happen here but anyway enough

not investment advice for you guys there moving on to the last thing i wanted to talk about was just a shout out here to matt lysing who i was on his podcast with recently called decent people we actually spoke about mostly not ethereum things on this podcast so this was more like the layer zero i did with david hoffman where we spoke about kind of like my journey before crypto what got me into crypto what motivates me and we actually went even further back with matt where i talked about kind of like my early life my childhood my schooling my parents stuff like that so if you're interested in learning about that sort of stuff definitely go give this podcast a listen and matt actually has a bunch of podcasts with other people as well in the ethereum community he really dives deep into non-crypto stuff with these people uh so

definitely go check out all of them as well but on that note i'm gonna leave it at that so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone