Space Summary
The Twitter Space Come build on Oraichain hosted by CosmosHOSS. Delve into the world of Oraichain as it unfolds the realms of AI, education, and digital content creation within the $TON and $SOL domains…
For more spaces, visit the AI page.
Questions
Q: What areas does Oraichain emphasize in its content creation?
A: Oraichain highlights education, podcasting, and in-depth research in its content.
Q: Why are $TON and $SOL crucial topics in the discussions?
A: $TON and $SOL play significant roles in shaping the narratives within the space.
Q: Which validators are particularly relevant in the ecosystem?
A: The Hoss Army Validator, including tokens like $ORAI, $INJ, $HEART, and $OM, holds importance.
Q: How do AI and memes contribute to the overall dialogue?
A: AI advancements and meme culture influence discussions and content creation in the space.
Highlights
Time: 00:15:40
Exploring Educational Initiatives Oraichain's commitment to educational content creation and dissemination.
Time: 00:25:15
Deep Dive into $TON and $SOL Significance of $TON and $SOL in the ongoing discussions.
Time: 00:35:22
Meet the Hoss Army Validator Engaging with the Hoss Army Validator and related tokens for ecosystem insights.
Key Takeaways
- Oraichain emphasizes education, podcasts, content creation, and research.
- Exploration of $TON and $SOL as significant focal points for discussion.
- $ORAI, $INJ, $HEART, and $OM are integral components of the discussion.
- The importance of engaging with the Hoss Army Validator in the ecosystem.
- AI, memes, and on-chain content creation play a vital role in the dialogue.
Behind the Mic
Channel Introduction
Our channel. It.
Discussion About the Market
Is it over yet, hoss? What's up? I said, is it over yet? Is the, is the bear market over yet? I don't know. It's putting me to sleep, I can tell you that. It kind of doesn't, it doesn't get worse than the biggest company in the world taking a 10% knock in a day. Yeah, it's crazy. It's like over a trillion dollars just got evaporated from the stock market. It's like, that's a lot of money. It said that Nvidia set the record for the biggest downturn in one day in stock history. There was like, over $300 billion is gone in the day from Nvidia. It's so crazy, too, because, I mean, this is still early investigations, right? Like, you got to take everything with like a grain of salt.
Antitrust Lawsuits and Nvidia
I don't understand how, like, we've seen so many antitrust, anti monopoly lawsuits over the years. I feel like the biggest one I remember was like, do you remember, like, the Bell Atlantic or maybe it was Comcast lawsuit from like the early to mid to two thousands host? Yeah, it wasn't comcast at Amp, T and Bell. I think that's right. Yeah. Because they just, they were going out there and just like, I buying up other media companies and they were buying up other cable companies and they were going out there with the goal of cornering the market, of controlling the whole distribution of media market. And that was a totally reasonable approach. In the case of Nvidia, you're talking about a company that built products. Their products were the best.
Market Performance and Competition
The software and infrastructure that was required for their products to operate had to be specialized in order for their products to work the best as they could to maximize performance. And so this sort of feels to me like a desperate attempt to halt innovation at any cost. Right. From the government to try to, like, get in between something and say, look, we found an opening to slow. So I don't know. I don't know. I don't know if this is going to play out. I know that when the government goes after you, the DOJ goes after you, they think they're going to win, right? Yeah, they never do, though. All they do is just get their hand out.
Potential Changes to Nvidia's Operations
It's like back to business, I guess. Well, if they break up Nvidia, what they won't do is tell Nvidia that they can't operate certain lines of business. So that's number one, what they may make Nvidia do is break up their business into different sub businesses. Right. I, that's traditionally how in general, you don't see antitrust come into play for a company that's not doing a merger and acquisition deal. There's no current merger acquisition deal that's going on that's triggering antitrust violation. This is sales practices, this is a question of sales practices. Software and hardware, you know what I mean? All sort of playing a role. So it's very weird.
Current Market Status
It's a very weird time, I think, in to sort of try to get in here and to make a claim that there's antitrust violation with Nvidia. But you know, it is what it is. So it's still worth two and a half trillion dollars even after all this. And this is like clearly a buying opportunity, you know, NFA, but you know. Yeah, it's crazy. I mean, it's crazy. The amount of money that just got evaporated. This just kind of wild to me. It's just like so much money. It's basically the entire crypto market just got evaporated from the stock market. That's, that's really what happened. It's just nuts.
Excitement About Collaborations
Yeah, it was, check, I was tuned into this space that you had with Oasis. It was a good space. Yeah, I'm excited. I've always been a fan and a good friend of Oasis and happy to support that ecosystem, but really today we're here to talk about building on our ride chain. You know, that's that fire, like, love oasis, but you know, this is business time. So Vinay, what's going on, man? How's it looking over there? Yeah, things are going pretty much great. Like we have a couple of great projects coming out of builders base camp.
Progress on Projects
As we already mentioned in previous page, that builder base camp will kickstart the, you know, the fire of builders coming out of Ori chain ecosystem because definitely or I has a great potential as a tech and as well as an ecosystem. And now we will be, you know, just pushing great projects coming out of Ori chain. So I'll just hand over the mic to Graham will coming from the deepest dao, so he'll be quickly introducing all the projects one by one. And the employers can come up and, you know, share their ideas, what they are building on and why they are building on Ori chain and what are their thoughts on building on orange?
Builder Experience Sharing
Like if they are facing any kind of problems or, you know, like anything and everything and during their whole journey of around one month. And, like, it's been almost one month since we start. Started the builder base camp. And, yeah, I grail over to you. Hi. Hi. am I audible? Yeah, audible. Hi. Hi. Hi, horse. Hi, Vinay. Hi, Tyree. It's been great seeing you all. So, yeah, from the past one month, like, I have been, like, in contact with, like, all of these amazing devs, and these guys are, like, shipping some cool stuff.
Projects in Development
Like, a couple of them are my favorite. Like, one guy is building a name service that is, like, I am really excited about. And, of course, like, couple of projects that, like, there's. There's one project that is, like, one click smart. One click smart contract development. So, yeah, like, without wasting any time, I would like to, like, invite every builder who is, like, current right now. You can. You guys can just, like, press the button to speak, and you guys come up so that we can, like, have a great introduction and like, we can, like, kick off this, like, a builder journey.
Transitioning to Speaker Introductions
So I will ask a rhythm j akash Ronak to come up. Sorry to interrupt you in between, but I guess it will be difficult to have everyone on the speaker. I asked Twitter space will crash, I believe. Mm. Okay, interesting. So how about, like, let's go one by one? Yeah. Let's start with, let's start with Ronak. Ronak is, like, Ronak is one of the, like, great developers. Like, he has been active in the, like, crypto journey, I guess, from, like, around two years.
Detailed Introduction of Ronak
So, Ronak, can you just come up in the. Come up on the speaker stage and, like, tell us what you're building, how it's been, your experience till now, and what is the vision? And Haas, do you see an invite from him? No, I don't, actually. That's what I was just looking. All right, send him. Send him. Send him an invite. And who else? Who else is going to be speaking? You said Akash. Yeah, Akash is also there. Akash, you can also.
Waiting for Speakers
All right, let me send an invite. OMG. You can also send the invite. All right, perfect. Okay, we're gonna wait, I guess, while we're waiting for people to come up, Haas, I. Let me know. Let me know when we. Give me the hand when it. Whenever we. We start getting these guys on stage with us. Interesting. Interesting. We have Ronak. Hi, Ronak. So how about, like, give. Give us your introduction.
Ronak's Introduction
What you, like, give a little bit. Introvert you. How are you, like, what are you building? And what is the vision that you are thinking of that product? So, over to you, Ronak. Yeah, so like, as Graham explained, I was building into the web three ecosystem from last two years, but I was a bit new, like, in the cosmos ecosystem. So diverse Dao and like array chain builder arts helped me a lot to build on the cosmos.
Project Description
So what we are building is a naming service. You can like file names like Dot, ARR e from our product. We. We have, we are done with the contract. We, we are trying to deploy it on the origin testnet, but we encountered some error. We got help from the deepwaters now. So, like, we had great experience building on the cosmos chain. We are in the, like, Rona, can. You tell us, like, what you are building right now?
Further Exploration of Project Functionality
I like, we are building a name services. You user can come and choose out like, various domain names. They have purchased them and, like, obviously trade on them. And so, like, what's in, what's been the inspiration of that, like, and how much has been completed? Like, is there a demo that is available right now that can be shared? Maybe you can share it on like, Twitter space only, or maybe like, tag everyone who is, like, presented here.
Technical Challenges and Progress
Like, I don't think so. We'll be able to share the demo on Twitter space. Yeah, I'm just, yeah, you can go ahead and share whatever like is in your mind. Like, we are done with the smart contract. Shiom is also here. He implemented the smart contract. I work with the front end. So we are almost done with both of the things, but still the integration work is pending. So we are working on that.
Collaboration Acknowledgement
Shivam can, like, explain his experience developing the smart contract more here. So, yeah, so I would like to, like, ask Cosmos horse and like, tyree. Like, what are your thoughts on, like, this name service and stuff? And do you have any other suggestions for Ronak to make it, like, amazing? Yeah, I guess understanding the role that a name service plays in the ecosystem is really important. Right?
Integration of Services
Offering a name service is excellent, but having that name service integrated into the wallet of the ecosystem seems like that would be the first step that I would take is understanding what the main wallets in the ecosystem are currently. You have Kepler leap and obviously o wallet metamask as well, will be available soon on the EVM side. So that ends up being like, one important touch point.
Adoption and User Engagement
Having domain name, having sort of your name service is great if you can use it to send assets or bundle profiles together. So I'm curious, like, what your plan is on seeing it adopted. Not so much just like, what the tech is, but how do you envision it being used. Like, as you said, it would be great to have assets renamed and used on Bumble profile, right? If I had it, correct?
Practical Use Cases and Future Steps
Yes, yes. So just, I guess maybe you can explain for everybody that's here how you practically plan to see people use their domain name and then where you plan to have it integrated for people to use it in the future. Like, obviously they can name the assets from our services, but I am bit lagging, like, where exactly we can fit the product into. Yeah.
Further Development on Use Cases
So, I mean, for me, it seems like you would want to do things like making sure that the NFT market, the primary NFT markets on the ecosystem, are integrated with domain names so that people can send nfts with their domain name or that domain name can be visible on your NFT marketplace profile. Right. Obviously the wallet, if we can, like. Name the agents on the region or something about AI agents.
AI Integration and Future Vision
Yeah, I mean, that is another. I mean, when you start talking about, like, instantiating an AI agent and naming it and knowing who you're reacting to, that's a great use case for a name service. So maybe you can tell us a little bit more on how you see that working. Actually, I'm not that much envisioned about, like, where exactly we'll be.
MVP and Expansion of Utility
Like, we tried to put it as an MVP on the Ori chain. So. We can add like, multiple use cases around name service. No issues. Ronak, I guess Terry just, you know, mentioned few good ideas which you can definitely, you know, think around and see where we can, you know, please the all the name service project in the system.
Collaboration and Support
Definitely. I'm sure you must be and you must have written all the cool ideas that we have been given to you. And also I suggest you know, just start working and start figuring and finger figuring out these ideas and see where this, you know, where you can take this. And definitely we, I'm sure Greyle must have provided you with Tyree SQL angle, so you can also check with Tyree if we available sometimes next week or so.
Follow-up Suggestions
If you need any other solutions from Tyree. Tyree. Is it fine, right? Yeah, absolutely. I'm gonna, I'm gonna actually, Vinay, I'm gonna share with you my calendly and then you can send it to all of our participants. I won't post it publicly or else everybody's gonna be asking for a meeting.
The Founder’s Journey
So let me. Let me try to, I wanna sort of take a second to talk about the process for being a founder, because we don't I think, so often, Haas, like, you know, we. We spend a lot of time talking about what we're building, but we're not talking about why we're building who we're building it for, you know? So it's great to be able to do, to build good tech and I. And to build something that we think is going to be valuable in a hypothetical way. But actually being able to go to market with that thing is very different than saying, I can code it. What I encourage everybody here that is a founder to do is to start, even before you write one line of code, put together the most simple version of your pitch deck for your ideas, you can, and start sharing it with other founders in the ecosystem, whether it's Orion chain ecosystem or other ecosystems outside.
Networking and Collaboration
Right. And the developers advocate program is really great. And I know builders basecamp has its own community, but also, get out. Like, don't be afraid to tag me and say, hey, will you introduce me to Talos protocol or introduce me to the o wallet team or any of those things. Right. That's what I'm here for. That's what Haas is here for. So, you know, with something like the name service, you need to know where it's going to be integrated with, and you need that collaboration early. Right. And you need. So I don't wait. If you're saying that you're going to have your name service used for AI agents, well, then you need to talk to whoever is building AI agents in the ecosystem.
Ensuring Market Fit
And if there's not somebody building AI agents in the ecosystem right now, that it's like building that as a service, then maybe your solution is front running market fit. Right. So I want to, like, caution people with sort of assuming what. What is going to work? And say, well, I'm going to build it, and then all of the partnerships will come after. I actually am, like, a firm believer that before you ever start developing anything, you need to have a lot of good partners that are around you and I guess to sort of, like, talk about that anecdotally. Right. I'm building a project right now that is an omni chain clearinghouse for native asset DeFi on any blockchain. Right. This is a project that I'm building right now in collaboration with one of the other founders of a ride chain.
Testing Feasibility and Market Fit
Now, before we did all the technical specs, we knew what it was going to take to build it. We assessed it and said it's feasible. And then we said, is there market fit for it? Let's talk to all of the potential partners that we're interested in. Let's talk to near foundation, let's talk to proximity labs, to Tan foundation, to atom accelerator, to osmosis, to everybody, right? Let's talk to everybody. Let's share the idea and let's build up that collaboration. And then what's really great is that when you go and you bring that at that early stage before you sort of get to your sales stage, that's where your really good relationships come from, right? Is when you go out there early and you say, this is what I'm doing, tell me what you think about it.
Seeking Feedback and Building Future Relationships
Tell me how I can improve it. Now you're making sure that your collaborators, that you're building in alignment with a greater momentum culture ethos for the ecosystem. Don't be afraid to go out there and proverbially shake hands with people and get into meetings right away, because those are going to be the things that help you successful when you're ready to go to market later. And I guess the last thing I'll say about this is that if you've been in web three long enough, you'll find that there's a lot of people after they've built their products that say, now I need to go out and sell it. And that's really hard, right? Because now you've built what you've built, it's already fixed. The opportunities for integrations with other projects are limited to how you see the world, your perspective, right.
Challenges of Post-Development Integration
And customization of an implementation with another protocol or something might now be really hard. Now you might be looking backwards and saying, I need to reverse-engineer or rebuild different aspects of my project because I haven't aligned with what the ecosystem needs out of the gate. Right. So it also ensures sort of your future proofing. And you're also, you know, making your project forward compatible overall. So, anyways, rona, please reach out to me. I shared my calendar with Vinay. Please book a time, and let's talk about how to connect you with all of the teams that are going to need your work in our chain ecosystem.
Introduction of Mohammed Gauss
It was well said, tyree. Thank you. I'm an old man, so. No, it's very true. Beforehand. You know, I feel like an old man right now. I'm wearing my Pittsburgh Pirates hat, and I'm looking at myself in the mirror. I'm almost 40, guys. Don't let me, don't let me come in here and drop knowledge on you. Hundred percent. Okay? So, yeah, let's move to next. Next builder we have Mohammed Gauss. Mohammed Gauss, can you just come up? Can you just give me a request to call us so he can bring you up stage?
Introducing Aura Audit
I just sent an invite. Great. Yeah, goss, over to you, man. Yep. Yes. Yes. Hello, everyone. My name is Mohammed gauze and right now I'm building a project called or audits. So it's something I'm really passionate about. So the idea came from seeing the challenges developer face with writing smart contracts like secure contracts and writing optimized and gas efficient contracts on cosmosm. So I wanted to create a tool that simplifies this process. So what aura audit does is it allows developer to add their cosmos contracts and get them audited and optimized using AI suggestions.
Features of Aura Audit
And what great is that? If they want to take this thing further, they can contact us and we can connect them with partnered auditors and they can get their contracts fully audited from them. And we have also added a feature where users can put their ideas in message box and they can get like a very basic smart contract written by an AI. And we choose to build this on Ori because of its focus on AI and AI integration with blockchain and which open up so many possibilities. And we are even creating a standard similar to what open zeppelin does for Ethereum, where users can import factory contracts or directly deploy various type of contract and they just have to go to our website and they can either install the library in their locally, in their local folder, or they can just use the UI to deploy like many contracts, like token contract, NFT governance vault contracts and liquidity pools, and maybe a whole protocol, like maybe a lending protocol and many more.
Cosmos Integration and Future Plans
And soon we are integrating a Cosmos id also into our website so that anyone can write Cosmos contact directly in their browser in client side. That's it. So my question for you is, what's the primary interface for your project? Is this envisioned as an extension for versus code? Or is it like a consumer platform that people can use and then copy and paste their code over to their id? So is it a more of an extension of remix or Solana ID for both? For Cosmos. So like, when I see that there isn't many great ids for Cosmos present on any chain, so I decided to create one.
Supporting Cosmosm Versions
And this is something that couldn't be used on any cosmosm chain. And then I guess the other question is, what version of cosmosm are you supporting right now? So right now we are working on like a little bit of old version of a cosmosm because of like the AI's and we are using cloud. So this trained on little bit of older versions and we have a lot of data to like feed the AI of older Cosmos. That's why we chose little bit of origin older version.
Challenges with UI Development
Very cool. And what's the sort of MVP or POC that you're planning that you would like people to try first? So right now we are not done with the UI thing and like building, and like we are facing some challenges like building id on the client side because you know already like it's like a little bit hard building an id on the client side and on website. So we are working on it and I'm sure we will get the MVP done by the end of this week. We have written some contracts also factory contracts for it and we have integrated the cloud AI also, but we are not done with the UI fully.
AI Optimization and Developer Assistance
Very cool. Sometimes I wonder about where the sort of biggest value add for AI and the developer processes. When I was in Brussels last month for Nir's AI showcase and they're currently working on a product called the AI developer and that's a very general name. The idea is that you will be able to tell this AI agent what you need and it have a group of sub agents that handle every part of your development lifecycle where they're handling the front end, the back end infrastructure, they're writing everything. All you need to do is deploy it. But they're designing, they're handling, designing, coding your website, like every single piece of it.
Using AI for Development
The idea is that it's supposed to make the building process, the sort of building process, zero to one, a lot faster. But it's never going to be the type of thing that takes you sort of at the other end, you know, of the spectrum, right? Which is sort of the, how do you get from like how do you get to become an a project, right. That is original with excellent market fit and all these other things, right. It's, it's good for AI is great for like standing something up quickly to getting to a prototype of an idea quickly, but it's nothing sort of great at sort of finishing and polishing.
AI and Developer Learning
So I'm curious, as you talk about using AI for optimizing code, what's your experience with that so far? Has it been effective in your own cosmos and development journey to help optimize your contracts? So like, as you said, like AI cannot replace a complete developer. And we are not trying to do that. What we are trying to do is we are just making the process of a developer to write a contract like little bit easier. And like what you can do is the developer can just add a prompt and he will get the whole code from the AI.
Efficiency through AI Assistance
Then what he needs to do is just edit the code and add whatever and solve the bugs by himself. So this will just faster, will fast the process of writing a smart contract like maybe 50% or 60%, that's what we are trying to do. And what I have realized that like using AI for like minor books, like and for smart or small optimization is very great. The cloud and chat JPT are trained using like billions of lines of codes from all over the Internet. And if you are facing a problem and instead of just going on Google or using stack workflow, like it's better to use an AI and it will solve your problem within seconds.
Advantages of One Interface
And that's what we are trying to achieve in our project. Like user can do all these things in single interface and single UI. We are making like onboarding into cosmos ecosystem easy. Like it is easier to onboard in Solana also like comparatively for developer or like it's very easy for a developer to onboard in solidity also. So what we are trying is we are trying to make it as easier as that for Cosmogm. Yeah, that's, I mean that's great.
AI's Role in Code Explanation
And I guess my last question for you here is sort of on, you know, again on the role of AI, right. So there are sort of the, I guess my question here is, do you see a role for there to be feedback as well where you ask AI to produce some code for you and that's fine, but actually you also need that AI explanation of the code. You have to understand why something is written in a certain way, why the AI helped to make that decision. So have you considered that in your design of the sort of like two way communication that is required in building a system like this?
Future Development Considerations
Yeah, we have like thought about it. Like whenever like someone asks a prompt, like the AI can add explanations also of those code or lines, like why the AI choose those methods or wrote those lines. And we have thought about it and we will definitely work on it in future. Yeah, I think that would be, I mean that would be really great, right? Being able to like both have that inline annotation of the code and also being able to understand the reasoning for some design decisions I think is valuable because eventually what we want is our developers to learn how to prompt better as well.
Enhancing AI Interaction
Right? So it's like if you start learning why the systems, the AI starts making certain decisions, you will learn how to ask the AI for better output over time. So the quality of the prompt increases, the efficiency increases. It's really a relationship, right? It's not a tool where you're sort of, you do something and you always get the same results or I, or anything like that. It's something that can really improve depending on quality of what the user offers. So. So you said you'll be done by the. You'll have an MVP ready by the end of this week. Yeah, I really have no pressure.
Cross-Chain Lending Platform Discussion
Using it under the hood. So, yeah. Okay, I'm interested. I feel like one of the. When you sort of pitch across chain lending platform. Right. It would be good to make sure that you're also pitching some examples of the types of user experiences that people can expect. Right. So, right now, I don't have, like, a very clear idea of the user experience that. That people will have. Basically, you. You told me you were building a cross chain lending platform, but then you told me that, you know, you're supporting USDC and. Which are both on Orion. Right. So I would love to understand a little bit on some different user workflows that you expect end users to experience.
User Workflows and Supported Chains
So, wait a minute. I just told you about the stable coins, but we'll also support the native tokens of other chains, such as ETH, Sol, and, you know, the cosmos ecosystem supported chains, which users can lend and borrow from our platform. We'll just use IBC as inter blockchain communication for doing all cross chain interactions with those. Okay, Haas, what's the. What's the IBC channel to ETH? What's your question? What is the route to ETH? What is the IBC channel? Who's working on. On IBC for ETH? I know. Can I know composable was doing it, but I feel like there was another team, too, that was doing it, maybe. I mean, Toki is working on IBC for. Between B and Eth, right? Yeah, yeah. I can't remember who exactly I thought it was composable that was doing to eat. Polymer. And Picasso has implementations with ETH. Okay.
Picasso and Cross-Chain Integration
Yeah, that makes sense. I. Because I know. I know Picasso was working on Compasso. So Picasso is like a part of composable foundation. Right. So I know that they were working on Polkadot and Solana, and I remembered them working on ETH, but I didn't know if it was ready yet. I feel like it was still on testnet for ETH. Is that right, rhythm? Oh, no. Picasso has one implementation with eth that's live on the mainnet. I have a little bit of doubt about that. Okay. No, that's cool. Haas and I know the founder of Picasso Brain jar, and I haven't followed too much up on their work. We do have a group open with Picasso, so maybe if it's interesting for you to sort of meet with them, that would be a good connection for you to understand what integrating with them looks like.
Lending Opportunities and Market Efficiency
I know that Picasso is also working on Mantis, which is the Solana L two. So that would be, I think, another interesting place. As you're talking about cross chain lending to look for an integration, I. Yeah, it seems, seems exciting. Exciting and promising. So you, how far did you say you are from launching your sort of poc? We'll be launching it on the next Tuesday or Wednesday. And that's going to be on. Or I chain testnet. Yeah. Okay. Well, I'm looking forward to it. Please, please get in touch with me if you are looking for any connections to other ecosystem projects. I would also love to see if you have a pitch deck for this. I would love to see your pitch deck and maybe get some deeper ideas on what you're working on.
Perspective on Lending and Market Dynamics
Haas, do you have any sort of questions about this? No. I mean, I'm all for it, to be honest with you. So I'm a huge, I'm always looking for borrowing and lending and things like that. Always, like in all of blockchain. So, yeah, I'm almost, you know, I know that there are some people on my team that would be mad at me for saying this, but I'm anti-derivative in crypto. Right. So, like, I'm not a big fan of, like, you know, like, ETF, sort of like three x long assets in the ecosystem. I'm not really a big fan of perps. I know that, know, Orion does have some perps protocols, but, like, you know, there are. I don't, I don't. I'm not, like, a huge, like, fan of that.
The Future of Lending Markets
I think that it kind of is used the wrong way a lot of times. And the most pure version of leverage is just a lending market, right. Being able to have a very diverse lending market with all of the assets on the chain available to borrow not just, I think orchide does a really good job with their lending protocol, but it's limited in scope. Right. So you can't borrow, for instance, Orai or you can't borrow Adam. And that means that you can't actually organically short those assets. So it's a market efficiency question, right, where, of course, anybody that, like, you'll probably hear me say like, oh, shorting, borrowing a bunch of atom and dumping it is a terrible idea, right, but that's how shorts happen, like in the real world, right, is that you acquire those assets from somewhere.
Discussion on Market Efficiency
You borrow them, you sell them on the market, and then you pick up a larger amount when the price dips. You repay your known, your loan in kind and you keep the profit in either the number of assets or you liquidate those for the cash. So right now, orchid doesn't enable that efficiency for our market because all it lets you do is go long on speculative assets. It lets you borrow USDT and you can't borrow any other type of like native assets there. So I think that there's a lot of room in terms of overall market efficiency in our ecosystem for new lending opportunities. And I look forward to seeing what you're building rhythm and it sounds like it could be a big value add for the ecosystem.
Need for Diverse Lending Options
Yeah, definitely. We'll discuss it with you more at the later stage. Yeah, I mean, I, we definitely need that. I mean, it would be nice to be able to borrow other assets right now. So, I mean, I'm all for it. And if there's anything I can help out with, obviously I'm here to help. So I think about every ecosystem that I know of that has done well or flourishes has this. So, I mean, that's just kind of part of the game, so to speak. Yeah. I mean, every efficient market needs a place to trade, needs lending, a diverse amount of lending.
The Role of Derivatives in Market Dynamics
It needs a great, obviously a great ledger, you know what I mean? To make sure that we're keeping everybody's IOUs honest. Right. These are, these are like the founding principles of our, the foundational sort of elements of our economy. Then you sort of get into the sector by sector situation, right? And you need derivatives. I'm not saying that you don't need derivatives, but the issue with sort of the synthetic derivative situation is that it's detached from the collateralization, which I think can be problematic for actually creating efficient markets. Right? So, for instance, in a lot of perpetual exchanges, you can take a short position without actually moving the market at all. Right? Without actually selling any assets, and I think that ends up being really problematic.
Fragmentation of Market Liquidity
So I'll talk on the same boat as you. It always works. Derivatives always scared the shit out of me. Well, when you have these sort of synthetic derivative situations, you end up. Because you're not actually trading on the real market. Your. Your trades don't. You're basically open yourself to somebody else deciding which direction the market is going to move. Right. And it actually fragments liquidity even more. Right. So, you know, hypothetically, if you have, like, a bitcoin USDT pair, and then you have a synthetic, you know, derivative, you know, bitcoin USDT pair on a different exchange that's siloed off from the main liquidity, then, you know, they might correlate and there might be, like, a reference point between those trading pairs, but there's no direct connection.
Future of Cryptocurrency Usage
They don't influence each other with that volume. Trading volume. So, anyways, I'm hyped. I feel like I'm a. There are some things that I want to see in the ecosystem. More lending is definitely one of them. I would also, you know, like to see some stable coin action, but I'm going to sort of go easy on that. I have a vision for. For stable coins in the future that it's not just sort of like about a ride chain, you know? But the big thing, Haas, though, is that we still don't use crypto in real life. Right. I. Yeah, it's unfortunate.
Opportunity in E-commerce
We gotta. If there's one thing that the whole ecosystem needs to, like, get together and do, like, the closest thing that we get is, like, trading secondary market on rug Leo, you know, like that. Like, that's. That's our. That's our. That's our, like, that's our. Our, like, currency, right. Is that we use crypto to, like, trade NFTs and to buy. To buy and sell NFTs, but that's like, as far as we've ever gone, otherwise, it's like, we buy and sell other crypto, and that's it. We're not using crypto to buy goods.
Transforming Cryptocurrency in Commerce
We're not using crypto to buy services. People in e commerce are not integrating crypto into their front end. So I think that there is a huge, huge opportunity in the e commerce world that's totally untapped to start getting into, like, how do we take the thousand plus many thousands of chains, unify them all together, so that you can have a transactional currency that's collateralized by the $2.3 trillion in crypto? Market cap. That's the future, because bitcoin is the store of value, but there's still no transactional currency, so.
Closing Thoughts and Future Collaborations
And obviously, Haas, you've heard me rant about this for days, so I'm not gonna, like, go too deep into it anymore. But who else do we have? Vinay? We got more. More speakers. Yeah. We have last builder. We have Jay. Jay, can you share? Can you just click on the invite button and come up and. Would love to have a chat with you as well. Just set an invite. It's the Jake Kumar, right? Yeah. While we're waiting, I seen Tyree. Japan is making some regulations for crypto. Yeah, I was. You know, I don't know. I was looking at something earlier where I don't even remember what I was reading earlier.
User Predictions and Bets
A user can predict or I chain price that will rise or down, or they can earn on their betting. Very simple thing. A user can connect our DaP to the o wallet. Then user can bet the price of the Ori chain token will goes up or goes down. If the prediction is successful, then user can earn reward on their prediction. Our backend logic is powered by Cosmos smart contract written in rush. These contacts manage and creation operation settlement, prediction of markets. Ensuring security and transparency on ORi chain blockchain.
Oracles and Data Fetching
Our concept is very simple for your oracles. Are the oracles coming from? Yeah. That's why we have an issue of fetching the data from Ori chain, as we told the dev rel of Ori chain. So he told me to use static data right now. Then he'll give me the API of Oracle, then we connect the real time data. Super cool. And are you planning to only support assets on orichain right now or are you planning to expand to other assets as well? Did you hear my question? Jai? Jai, are we audible? Hello. I'm audible. Okay. Maybe some network issues there. Yeah. Jay? Did you.
Support for Assets
So are you planning on supporting any other assets or just Orai token? Just Orai tokens. Okay, so this is the only drawback that I see here for you as a sort of business model. I think that it's, I think it's a great application, definitely something that would be important for our ecosystem. But because the liquidity is so small, and I have to be very straightforward about that, the liquidity is fairly small, but it takes very little effort to manipulate the price action. Now, one hand, that manipulation, if its incentivized through this prediction market gambling mechanism, really it just results in the net positive because that means that theres going to be more trading volume, more people trying to trade the asset to manipulate that will eventually balance itself out.
Market Manipulation Concerns
But im curious on how you see manipulation or, you know, in the market sort of playing a role in your prediction marketplace. Actually, we are not maintaining the pool for a particular pair. We are just getting the price for that particular bit. And if it goes up, then we credit some more amount to the user. We are not providing or maintaining the pool for the payer. We are not maintaining the pool actually. So we don't need much liquidity for that. No, I guess I understand that. So it's similar to the way that in pancake swap on the old version of the prediction marketplace. Some people say up, some people say down.
Understanding Betting Dynamics
And that whole pool of everybody that bet depends on the odds. That will be the sort of two to one or three to one payout, depending on the balance and ratio of whether people are betting on the bull side or the bear side. From my perspective, the reason why somebody like pancakeswap only offers that on major asset pairs like BNB or bitcoin and Ethereum, is that the manipulation of those pools, even though they're not maintained by the prediction team, separate. The manipulation of those pools is really hard because it requires so much liquidity to be able to move the price. In the case of a ride chain, even though you're not maintaining the pools, you're talking about maybe under 20,000 or $30,000 can move the price one to 2% in either direction.
Impact of Market Movement
So there's a significant manipulation that's possible that you're not involved with, but definitely would affect the outcome of your, of each bid on your product, if that makes sense. Actually, we have also restrictions for the bidding. Like, a user can bid up to a particular amount on a one bid. Okay. So you're basically the trade off here is that the incentive cannot be by keeping the prediction bidding amount small. It's sort of like a max bid in the casino that gets you to it's. Do I think, am I thinking about that the right way?
Discussion on Betting Strategies
Haas where like, you know, yes. We're like, roulette doesn't like you. The odds are not in your favor because there's always going to be a max bet and it won't let you double down, basically, too big of an extreme. Is that, you know, the concept that I'm talking about? Haas it's like, yeah, I mean, because if you think about it, well, I guess in theory, you're never a 50 if you did red and black. Cause there's green. But, but, no, I know what you mean. Like, there are people that have a strategy at the casinos that kind of do that. Like, they just go there with, like, unlimited amount of money, and their goal is just to win one bet, and they'll sit there the entire time until they win that bet, because all they'll do is just add, you know, they'll just double their money every time until they finally hit that number or, you know, Reddit Black.
Reflections on Gambling and Strategy
So. Yeah, but you know, you run the risk of Red hitting 20 times in a row if you keep trying Black or something. And then it's like the Casino May at some point say, no, you're not allowed to bet this much. So. No, I know what you mean. Yeah. I mean, when you're, I'm terrible at gambling, so, like, I remember, but I remember when people would even in Crypto, there's this sort of DCA Strategy that says, like, this MartinGale DCA strategy where if it dips to a certain Price Level, then I put a certain amount in. If it dips to the next price level down, then Im going to Double down and go heavier on my investment, and Im going to accumulate that way as Deep into the hole as possible.
Predictions Market as Options Contracts
I guess from my perspective on the Prediction MarketPlace, IM thinking about how you could, because really, a Predictions MarketPlace is an Options Contract, number one. And it's a very short term options. Right. So it's like a 1 minute or five minute or ten minute options contract. Yes. It's for five minutes only. Okay. Yes. Exactly. So, you know, anyways, it's exciting to me. I think predictions. I love to see people, you know, betting. What's the currency that they would betting? Are they betting USDC or USDT or is there another asset? No, it's for the native coin or I chains. Coin. Native coin.
Betting in the Marketplace
So you. So you bet the native coin against the native asset price? Yes, yes, yes. Interesting. That's. That's kind of juicy. I'm into it, man. I think that's. That's great. Like, I have to, like, think about it so hard. I. I don't know if I've ever thought about doing that before. Because. Because due to this user can buy more and more or I chain tokens to bet on our prediction marketplace. Yeah, I mean, that's. That's. I mean, look, I'm not going to argue with you. Make. Make Orion casino currency. And, you know, you're.
Engagement and Future Sports Betting
You're gonna win a lot of fans. Exactly. We have some straight dj's. I mean, I'm a DJ. I'm actually, while we're talking, I was thinking about sports betting for week one in the NFL just to make it a more fun week one experience. Oh, that reminds me, I have my fantasy football league draft at, like, midnight tonight. My wife is gonna kill me. That's hilarious. Yeah. I haven't done fantasy football in years. Cause I won back to back, and it was just like, it became unfun because the people that I was playing with, they.
Experiences and Complaints in Fantasy Sports
All they did was complain. It was like, not even that much money to be in the league. It was like $50 buy in. And it's like, bro, like, it's not that much money. Why are people literally crying and complaining all the time? I won back to back and I retired, but I was thinking of coming out of retirement because it does make. It does make watching the games more fun. Like. Cause it'll be a random game on. It's like, oh, yeah, I have the running back on this team or whatever, so I don't know, maybe I'll do it. But I definitely think I'm going to get into some sports betting this.
A Fun Approach to Betting
This year. I think it's. It's just makes the games a lot more fun. I feel like somehow, like, gambling. Gambling is, like, not my favorite utility of crypto, but, you know, it's undeniable that our current user graph is, like, definitely leans in that direction where the speculation is the most fun. Right. It's. It's not like, so much like future. Future of financial freedom type stuff. It's like trying to get rich quick. Even like small bets are exciting to people. So anyways, I'm hyped on it.
Connecting with Other Teams
It seems good. Ja. I think that it would be really good for you to touch base with the DeFi lens team because DeFi lens is, also has a bit of a predictions market, although their predictions market is 100% off chain. Right. So it's not, you're not betting real currency, but there is sort of like real time charting tools that they are using in there. And then you can you essentially like sort of bet XP whether the price is going to go up or down and that's their market. But maybe it could be a good integration for you.
Opportunities for Collaboration
So let me try to introduce you with those guys and see if there's any cool synergies there to sort of. To bring this to life. For sure, buddy. Interesting insights. So, yeah, guys, I guess these were the builders who were like right now available. And I guess like couple of more builders are there who would love to get in touch base with you and you tyrannos because. And get some good insights in future. So before that, like, I just want to ask you, like, is there any closing thought or closing thoughts you want to give, any suggestions or advice to make it better, to make their I pitches better, to make their strategy better for go to market and stuff like that?
Suggestions for Future Pitching
Yeah, I guess what I would really like to see happen, and maybe we should do another call next week, right? And what I would like to see sort of happen in the next week. And you can give this assignment to the community is to prepare like a five slide pitch, right, that can be shared on social media that tells people of the, what you're building, what the. How you plan the POC to be. You know, let them, let everybody sort of see it because we can talk about it in these spaces.
Effective Communication and Pitches
But the most important thing as a founder, right, is to be able to, like, get your message out there. So put it on paper as a deck. Like, again, it doesn't have to be like a crazy pitch deck. Do a few slides, very tLdr approach, right. Make it simple to understand. And then let's have another call. Let's try to have a call next week. And I'm happy to Vinay, I shared my calendly with you, so share it with all of the founders.
Supporting Founders
People can book time with me to like, look at their pitch decks ahead of time, but it would be good to sort of go through and refine that pitch to make sure that people are. Are giving the best pitch of their product as possible. Pitching is not easy. You have to do it a lot to get it right. And you have to know what the value add of your product is and put that upfront right and in front of people right away.
Encouragement for Continuous Improvement
So across all of the pitches today, I'm really grateful to hear everybody. One thing I would say that could be improved is being able to not only say what you're building, but how it's a game changer. And then sharing the passion about that you have as a founder, because those are the types of things that are going to help you in the future to raise money, to get investment and all that. So I want to encourage everybody to keep going. I'm here as a resource for you.
Conclusion and Closing Thoughts
So feel free to schedule a time and come speak with me. And, and, yeah, I appreciate everybody joining today. Great. Any thought from your side, hors? No, I just want to thank everyone that tuned in, listen to recording as always. Definitely reach out. I'm interested in what everyone's doing and want to keep in touch. So definitely keep in touch and thank you, everyone. Great. Would love to share this message for the builders.
