Space Summary
The Twitter Space EnsoFi x Eclipse: DeFi Unleashed ️ hosted by Ensofi_xyz. EnsoFi x Eclipse delved into the realm of decentralized finance (DeFi), focusing on custom fixed interest rates, borrowing, lending opportunities across various networks, and the utilization of key technologies like Wormhole and Pyth Network. The conversation highlighted the transformative potential of DeFi in reshaping financial systems, promoting inclusivity, and driving innovation within the cryptocurrency space. Through insightful discussions on financial autonomy, diversified investment options, and the future outlook of DeFi, the space provided valuable insights into the role of decentralized finance in the evolving digital economy.
For more spaces, visit the DeFi page.
Space Statistics
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Questions
Q: What was the focal point of the discussion regarding DeFi customization?
A: The speakers emphasized the importance of custom fixed interest rates within the DeFi realm for tailored financial solutions.
Q: How do platforms like Solana and SuiNetwork contribute to the DeFi borrowing and lending ecosystem?
A: Solana and SuiNetwork provide robust infrastructures for seamless borrowing and lending operations in DeFi applications.
Q: What role do technologies like Wormhole and Pyth Network play in facilitating DeFi functionalities?
A: Wormhole and Pyth Network are instrumental in enabling cross-network compatibility and efficient data feeds for DeFi protocols.
Q: How does DeFi drive financial inclusivity and innovation in the cryptocurrency space?
A: DeFi protocols empower a wider range of users to access financial services and drive innovation through decentralized financial mechanisms.
Q: What benefits does decentralized lending offer through DeFi platforms?
A: Decentralized lending in DeFi platforms provides opportunities for diversified investment channels, transparent transactions, and reduced reliance on traditional financial institutions.
Q: What transformations can DeFi bring to traditional financial systems in terms of autonomy?
A: DeFi introduces greater financial autonomy by removing intermediaries, enhancing security, and enabling direct control over assets for users.
Q: How does DeFi contribute to reshaping the digital economy and promoting financial stability?
A: DeFi solutions enhance the efficiency of financial transactions, promote decentralization, and contribute to overall financial stability in the evolving digital landscape.
Q: In what way can DeFi be integrated to enhance financial management strategies?
A: Integrating DeFi solutions allows for optimized financial management strategies through automated processes, increased transparency, and reduced transaction costs.
Q: What insights were shared regarding the transformative impact of DeFi on the traditional banking sector?
A: The discussion highlighted how DeFi disrupts traditional banking models by offering decentralized alternatives, efficient services, and broader financial access.
Q: How do DeFi platforms foster diversified investment opportunities for users?
A: DeFi platforms enable users to access various investment options, including staking, liquidity provision, yield farming, and more, leading to diversified and flexible investment strategies.
Highlights
Time: 00:15:20
Customizing Fixed Interest Rates in DeFi Exploring how tailored interest rates enhance financial solutions within the DeFi space.
Time: 00:25:45
Borrowing and Lending Across Multiple Networks Insights on the opportunities for borrowing and lending across Solana, SuiNetwork, Monad_xyz, and Movementlabsxyz.
Time: 00:35:10
Key Technologies Driving DeFi Functionalities Understanding the role of technologies like Wormhole and Pyth Network in facilitating DeFi operations.
Time: 00:45:30
Financial Inclusivity and Innovation in DeFi Discussing how DeFi promotes inclusion and drives innovation in the cryptocurrency ecosystem.
Time: 00:55:15
Transformative Impact of DeFi on Traditional Banking Exploring how DeFi reshapes traditional banking systems by offering greater autonomy and efficient services.
Time: 01:05:40
Decentralized Lending and Investment Opportunities Highlighting the benefits of decentralized lending and diverse investment options available in DeFi platforms.
Time: 01:15:55
Future Outlook of DeFi Ecosystem Delving into the potential growth and trends shaping the future of decentralized finance in the digital economy.
Key Takeaways
- EnsoFi x Eclipse delved into the realm of decentralized finance (DeFi) with a focus on customizing fixed interest rates.
- The discussion highlighted the borrowing and lending opportunities available across networks like Solana, SuiNetwork, Monad_xyz, and Movementlabsxyz.
- Key technologies such as Wormhole and Pyth Network were emphasized for facilitating DeFi functionalities.
- Exploring the potential of DeFi in enhancing financial inclusivity and innovation within the cryptocurrency ecosystem.
- Insights on leveraging DeFi to optimize financial management strategies and interoperability across different blockchain networks.
- Understanding the significance of DeFi protocols in enabling efficient and secure decentralized financial transactions.
- The conversation shed light on the benefits of utilizing DeFi platforms for diversified investment opportunities and decentralized lending.
- The speakers discussed the future outlook of DeFi and its transformative impact on traditional financial systems.
- Exploring the importance of integrating DeFi solutions to foster financial stability and decentralization in the evolving digital economy.
- Insights on the role of DeFi in reshaping traditional banking systems and promoting greater financial autonomy.
Behind the Mic
Greetings and Initial Conversations
Hello Gm. GM. Hey Ren Adri, how's it going? Great, how are you? Very good. What's the time? You're earlier now 11:00 p.m. same. Hello guys. Hello. Can you guys hear me? Yes. Okay, so I think we are going to wait for another five minutes for our listeners to come in. Meanwhile I will play some music. Check. I'll be missing you. Hinata, my man, what is up? I think we are going to do some mic check before the ma so I can hear you. And what about Dre? Can you turn your mic on and say something? Yes. Can you guys hear me? I think it works well. GSBM to all our listeners here and I'm seeing other members from Eclops team.
Welcoming and Introductions
Hello Taehyo. Hello Hinata. Hinata, you are now honorary member of Eclipse team. Oh really? He is number one supporter of eclipse. Hello Stuart, are you still at the Abu Dhabi founder villa? And I can't see you comment but. Sadeena. So did anyone buy that AI meme coin? Just get with a meme coin on it. This one on Solana. This game like 30 million. Yeah. There's also the market recent one. Yeah. So you is eleven from you. So you must be based in like Malaysia or Singapore, right? Yeah, Singapore. Scotland. I see. Okay, so I think we should start the MA for now.
Commencement of the MA Session
I will turn off the music. GSBM legends welcome to the very first ma between ansify and eclipse. First of all, I would like to introduce myself a little bit. I'm Ashley, working at an Sophie covering partnerships and other external stuff. And I would like to introduce our two honorable speakers. First, Dre, CBO, co founder of Amsophyte. And second, our honorable speaker from Eclipse ran. So firstly, I would like to invite Dre to the stage to make a short introduction about yourself and what you are doing at Ansify. Yeah. Hey everyone. So, hey guys. And yeah, so I'm doing the product now. And so five. So we started this project like end of last year.
Continuing Introductions and Backgrounds
So we're mostly working on this more than ten years right now. Yes. Very cool to be here with you guys. We love to answer your questions and so that we can explore more about why insulin build on eclipse and we can learn more about eclipse as well. Thank you. And how about you, Ren? We would love to hear about your root eclipse and a little bit about your backgrounds. Yeah. Hi everyone, nice to meet you all. First of all, thank you so much for joining us. Wherever you are, whether it's Sunday morning, Sunday evening, Sunday afternoon, now my name is Vin. I'm the growth marketer at Eclipse, and that means my job is pretty simple, to be honest.
Roles and Experience in the Ecosystem
My job is helping ecosystem dapps be successful and the entire eclipse to be as successful as possible. What does that mean? That means helping our ecosystem projects succeeded, helping our community, and growing our mind. Share on Twitter right. My background, I got it in crypto roughly three and a half years ago. Got in like everyone else, being completely degenerate, trading on FTX. After a while I was like, okay, you know what, I should probably go and understand what I'm trading. So did the thing, read the bitcoin white paper, dove into the rabbit hole? I think my Red Bill moment was learning about flash loans in Aave that was like my, holy shit, this is such a cool new way to build a financial system.
Career Path and Transition into Eclipse
This is something that's not possible in any existing primitive, right? So at that point I was like, okay, I'll take a job, any job. So I went to work at a super small, like, crypto hedge fund for a year or so, did that for a bit, then realized, you know, like, I wasn't good at trading. I wasn't ready to work at a hedge fund. So I went to do research at blockworks researchers. So I was a senior research analyst there for one and a half years. Basically dove into a lot of things like MeV infrastructure, oracle, deepin, Dexus, prop Dexus, and just like had a blast doing research for one and a half years and then joined eclipse in April of this year. And happy to chat more about, like, why eclipse, if that's of interest.
Setting the Agenda for Discussion
I think you muted yourself, Ashley. I heard you for a second there. Okay. I think I turned it like accidentally turn off my mic. So, yeah, thanks for the very detailed introduction about our speakers. And I would like to come through the agenda today. First, we would love to hear your about the general finance game and the Defi vision of Eclipse. And secondly, we would love to hear about the vision and the product roadmap of Antofi on Eclipse. So let's move to the next, the very first part. What are your predictions for the teamfight market in 2024 and 2025 and what trends do you expect to see and what challenges will the industry need to address? Yeah, I would love to hear the answer from DrE.
Predictions for the Future of DeFi
Oh, yes. So for me, like, 2024 is like a year of majority of Defi. We saw like a lot of rebranding from like, aave make it down so. And in the next phase, my position will see more focus on like, inter rebuild like some solution to solve the cross chain and liquidity fermentation. Especially the rise of new solutions like eclipse to solve, to bring more liquidity on Ethereum, to like lay with the security of astronauts. And for me like cost share liquidity and seamless asset transfers will be the keychain. And I also expect more institutional interest in defined as the regulations become clear and pushing the space towards to be more structured financial products. And also like the user, when it comes to product, it's going to be like user experience and security is a key challenge. Yeah, that's my point.
Continued Insights on the DeFi Market
Okay, how about you, Ren? What's your point view about the Defi market and what trends do you expect to see for this industry? Yeah, Defi market. I think obviously a lot of the talk has been centered around meme coins in the past year or so. I think I still expect to see a lot of innovation around meme coins, but perhaps like supporting meme coin infrastructure, seeing new ways of people to innovate on top of pump fund across the industry. Obviously one thing that you're seeing is Defi going modular and sort of pivoting to their app chain model. The largest announcement of this was obviously uniswap from yesterday or two days ago. So I think that trend will be an interesting one to watch.
End Observations on Market Directions
I don't know whether it will continue to play out over time. Obviously, the incentives are there for sort of like a defi action narrative to play out. But also I think that's because the existing incentives have not been aligned enough on existing l two s and existing chains. And so that is something that etips helps to change.
Trends in Gaming and Social Finance
But beyond that, I think another sort of trend that I see is like LSTs and LRT's not just the increase in the proliferation of these products, but more so like interesting ways that builders are integrating LSTs LRT's into like gaming consumer social fi. And I think that's a trend that I'm very interested in.
User Participation in Social Finance
Yeah, yeah. I also like totally agree with you and like the idea, like people, users, they can use LSD to participate. Like to participate in like social fi dapps. Like for me, I can't. I think into like the apps, they can like issue an LSD and the holders, they can hold the LSD of the Dapp and then they can receive the benefits when they use the Dapp as well. Like for the gaming, they can use different benefits when it comes to play a game. Yeah, that's pretty cool.
Mainstream Adoption Challenges
Yeah. So we are all defined two ds and we know about like defined and its application. But what about the mainstream adoption? I heard a lot of commands and from the communities that it is hard to onboard a non defined user on cd five due to its like complicated application. So what do you think will be the main factors that will drive the mainstream adoption to fortified and how can the industry overcome barriers to entry and make Defi accessible for a wider range of audience? Yeah, I would like to hear from you first, Ryan.
On-Ramping and Use Cases in DeFi
Oh, okay, sure. Yeah, yeah. I think obviously, like unwrapping off rampage, off ramping is like a big problem today. It's a lot easier once you're in the door. So that's one component. But also I think like a lot of those problems are being solved, right? There's a lot of like on ramping, off ramping products that work really seamlessly. Yes, perhaps they're still relatively expensive, but they do work pretty well. And then the next step is like going from one chain to the other. I don't think we have entirely solved that yet, but also it's not that bad in the grand scheme of things. Right. If you look at the existing landscape, because like we have a lot of like fast, intense slash solving based bridges which basically allow you to hop from one chain to the other quickly. But I. The last missing piece actually, I think for me is use cases.
Expanding Use Cases in DeFi
If you think about a normal human being, what is the best thing that DeFi can offer today? A payments, which I think has taken off in some countries which don't have as much financial well developed infrastructure. And the other one is savings, whether that's saving us dollars with treasury yield. In order for Defi to expand that in like a massive heel way, I think we need to build a lot more use cases than that because there is a lot more promise to defi than just payments and sort of like savings, even though those two will eventually be the largest use cases by a very wide margin.
Challenges for New Users
Oh, yeah. All right, I'm just thinking. Yeah, I think payment is first is right. And yeah, for the mainstream adoption right now, there are like few factors that need to be solved, like on and off ramp. And some people, like new users, they have to handle like a lot of wallets. They have to think about which blockchains they are on the moment, which is kind of hard for newcomers to come in. And to solve this, maybe we need to have a tool to abstract away the complexity of managing different wallets. And also when it comes to blockchain, the transaction must be fast and the. And then they shouldn't feel like there's a difference between the app they use on web two and the app they use on web three.
Eclipse Support for DeFi Projects
Oh, thanks for your answers. And I think there's a question that me and all the other builders that interested in building on eclipse and already built on eclipse may want to ask you. It is how is eclipse supporting projects with the scalability and the performance challenges commonly faced by Defi platforms, as most of the projects now built on eclipse is from the Defi sector. Yeah. So if you're an existing DeFi project on a normal chain today, right, there are a few problems that you consistently run into.
Challenges in Block Space and Value Extraction
A, you're competing for block space, right. B, any value created by your application isn't returned back to you. Right. And so what that means is, a, like, if there's something that's really, like, hot happening on a chain, an NFT mint, a super, like, crazy meme coin, right. Your transaction fees will become very expensive, or your users transaction fees will become very expensive. Right. And so that is the reason why a lot of these defi apps are moving to their own app chains, is because they want control over their block space. They don't want their user fees becoming very expensive just because of, like, a meme coin taking off.
Addressing Value Constraints
Right? The other thing is like value, right? When a user submits a transaction with, like, a DeFi protocol, chances are they will pay transaction fees. They will create Mev, which is sort of minor extractable value or maximum extractable value, whether that's by like a validator, a sequencer, or whoever. But none of that value is going back to the users or going back to the dapp. That is all going to the chain itself. Right? So it's basically like you make money or you help a country make money and the country takes like 100% of it. That makes zero sense for any protocol or dapp, to be honest.
Eclipse's Unique Features
And so to cater to that, eclipse is taking the unique features of the Solana virtual machine, which is local free markets, which gives you control over your own block space. So even if there's, like, a lot of meme point trading, there's a lot of like, really crazy dapps. None of that can saturate the entire block. You will still have a portion of the block that's reserved for you so that your user fees stay consistently low. So that's part one. Number two, eclipse wants to return value back to applications, right? Execution value, whether that's like transaction fees or mev. We want to eventually return a portion of that back to applications because applications are our end users, right.
Creating a Friendly Environment for DeFi Apps
They are the most important. Without any applications, users have nothing to do on our chain. So those are two ways that eclipse sort of wants to build an environment that is great for defi apps. Again. Yeah, I like the way you put the bullet points, a b that meets, like, your talks and your words are easier to understand. So I would like to ask one more question about the scalability, like, for the execution bottlenecks and l two solutions can significantly hinder the abilities of the l two solutions to scale and provide a simplest user experience.
Challenges Faced by Layer 2 Solutions
So what are the key challenges that l two s have to deal with? And a special question for Rand, again, like, how eclipse is addressing these challenges. Yeah, I would like to hear from. Yeah, so if you go back to the state of l two s a year ago, right, l two s were very expensive, and l two s spent a lot of money posting data to Ethereum, right? Whether that was transaction, call data, or state would sell.
The Evolution of Data Availability
They needed all of this data to be posted to Ethereum so that someone can verify the state of the l two. And so that was like, basically an incredible constraint for Altus because it means that their user fees stayed pretty high and that their gps was also really low. At some point, Ethereum came out with EIP 4844. Purpose built data availability layers such as Celestia went live. And so data availability became very cheap. It became very cheap to post this data.
Execution Bottlenecks in Layer 2
And what that means is if it became very cheap to post this data, you can post, like, a lot of data, right? Which means that you can have a lot of transactions. And so the next thing that became a bottleneck is execution, right? Because you can have a lot of transactions, but you need someone to execute these transactions, right? Assuming these inputs, I need to calculate the output. What is the output? Right. The more, the more of these calculations I need to do, the harder it becomes.
Eclipse's Focus on Execution Layer
And so that's called the execution layer. And so now the constraint is in execution, and that's where eclipse wants to differentiate. We want to become, like the best execution layer. And that's a function of two things. Our virtual machine environment, like the SVM that we're using, and also our sequencer, right? We want to have, like, the craziest sequencer ever.
Performance Improvements with Eclipse
Think, like, a stupid amount of ram. Like 128 GPU of RAM. Like a ridiculous number of, like, cpu is a ridiculous number of, like, GPU's. And this sequencer can basically execute like a ridiculous number of transactions so that we get the most execution like optimization and acceleration possible. So that is basically what we're focusing on. And that is basically the paths l two have taken today.
High Throughput and Cost Efficiency
Right. And so because we are doing those things, we are able to support a environment for DeFi applications that is a incredibly high throughput and b, incredibly cheap. And that basically means defi applications can build new things that they could not have built on Ethereum in the past. Because like Ethereum is like ten tps.
Eclipse vs. Ethereum's Limitations
Most l two s are like ten pps. On day one, eclipse will have like the same TPS as Solana, right? That's a whole different world.
Application-Specific Sequencing Discussion
All right. Yeah, that's pretty cool about like your unique part would be the SVM, the sequencer part. But I would love to, like to learn a little more about the trade offs, like when implementing the, it's an application specific sequencing, right? So what's the trade off of it? Okay, so application specific sequencing isn't something that happens at the chain level. That's not like an eclipse thing. We can support infrastructure that supports that on eclipse. So application specific sequencing means that each application controls the ordering of the transactions. And what does that gain the application? It means that they can sequence their own transactions to benefit from any sort of MEV revenue, which means that these applications get more value returned back to them, which is a very good thing. Eclipse can do basically one thing here, support infrastructure that makes application specific sequencing as easy as possible so that it's, for example, as easy as plugging into infrastructure providers SDK and then making sure that it's composable at a chain level.
Trade-offs of Application-Specific Sequencing
Right. Because if like ten different applications want to do application specific sequencing, they each need to submit their own bundles of transactions. We need to be able to support that. Right. The trade offs of application specific sequencing are that even though you get more control over your revenue, it means that you lose composability. Right. Because if you are only sequencing your applications transactions and someone wants to insert their own applications transactions in between your own applications transactions, they can't do that anymore because then they will mess with your own sequencing. That is the main trade off of application specific sequencing. It's the app composability front. Okay, I see. Right, so like in summary, so it allows user to like set the rule for the transaction order, like prevent the manipulative tactics. And the pro can be like great user experience and like retain the composability compared to like having their own app chain and I think the cost could be like out of the complexity and.
Eclipse Mainnet Roadmap Discussion
Yeah, unless I think that's the point. You may, yeah. Added complexity and loss of composability between apps. Yeah, I see. Cool. Yes. Great to know. Okay, so good to hear that. And I think we are going to have the last question of this section. We all want to hear about Eclipse Mainnet roadmap. As I can hear from the team, that eclipse team is now focusing on the mainnet. So what's the strategy for the mainnet launching? And what special about the mainnet that you guys are going to launch? Yeah, I'm sure most of you have heard public mainnet is coming soon. We actually announced at a talk at Breakpoint that public mainnet will be happening at the end of October. So public main means that for the first time users will be able to access the chain. Right.
Details of the Mainnet Launch
And more importantly, users will be able to withdraw from the chain because so far you've only been able to deposit, not withdraw. What it means for users is that on day one there'll be a host of bunch of like different defi consumer gaming applications that you can try out. Some are like big existing Solana applications, some are small hackathon winners. And we are very excited for users to play around with these. So that is what's going to happen on public mainnet day one. Some other things that we're very excited about are our chain level products. For example, our unified restaking token teeth, also known as turboeaf. We're really excited about that as a product and for people to use that because we think it reduces liquidity, reduces fragmentation of lrts and basically makes it easier for you to manage LRT risk and get more LRT rewards at the same time. So that is something that we're excited about and we are full steam ahead on just hitting that target. Good to hear that and I wish for us the bright future will like happened to all eclipse and amsophy team.
Further Questions on Eclipse Integration and Ecosystem
So I think we are having another section await. It is about the launch of m. So fire on eclipse. So can I ask you dre, can you share about our launching plan on Eclipse? And for the follow up question, I would love to ask you another question about why eclipse? And can you explain to all the listeners here, why do we choose eclipse as the next chain to build on? Oh yes. So we choose Eclipse because it offers a perfect balance of scalability, speed and developer flexibility. Make it a great next step for install because first, originally we built on sarana. So in terms of dev effort, it doesn't matter. With the SVM from eclipse, it's very easy for us to build on eclipse and also with the eclipse modular framework allow us to tap into Ethereum ecosystem while also offering the solar experience.
Exploring User Benefits of Building on Eclipse
So for each user who want to explore the so now we believe that like a lot of Ethereum users, they want to swallow. So now low cost transitions and high performance, they will go to eclipse. That's why we decided to build on eclipse, so that we can tap into like huge numbers of users on Ethereum who are having a high liquidity and they do want to try the performance. And by building on eclipse files can provide users with seamless cross chain learning experience. So for example, like, and for example, we can allow users from other chains like Solana to leverage the asset to them. They can borrow on eclipse, for example, to participate in explore the ecosystem on eclipse first and if they love it, they can move the asset to eclipse.
Challenges in Cross-Chain Integration
Yeah. Yeah. I would love to ask Rand about the points that make eclipse stand out, but I believe that you already explain it so well at the first part of the AMA. So there's another question for Dre. Can you elaborate on the technical challenges and solutions involved integration of m so far into eclipse? And how will Msufi's features and capabilities be optimized for eclipse specific architecture? Oh yeah. So the main challenge, like integrating insulfine to eclipse going to be like ensuring the compatibility between our cross tube mechanism and so that like for building, deploying on eclipse is not that hard. We use SVM and the SSK and all the technical doc from eclipse is easy for us to build on eclipse. However, our vision is want to be a cross chain hub so that like we want to allow users from other chains to explore, leverage the asset on their home chain to export eclipse.
Ensuring Security and Asset Handling
So that's a technical part and technical challenge that we have to handle. And right now we are like looking for the cross chain solution. So hyperlink is a crossing solution that support eclipse right now and we have to ensure the handling asset and the security across different chains. Yeah. So that's part is the most important, like to make sure the security and handling asset abusers in a safe way. Yeah. So do you have any commands or what is your portfolio over like the cross chain integration into eclipse? I'm guessing that's a question for me. I think it's very interesting, right? Like eclipse stands at the intersection of two very large ecosystems, one being ethereum, because we set up to ethereum, the second being Solana because we use the Solana virtual machine.
Leveraging Multi-Chain Opportunities
So obviously welcome applications that stand at the intersection of these two ecosystems too. Right? And we are very excited for a multi chain lending protocol that is built in between multiple chains, not on eclipse itself, because a developers are able to build applications on the SVM that are deployed, integrated on multiple SVM chains such as Solana and eclipse simultaneously without too much work. Second of all, it means that users can now start doing very interesting things, right? They can, for example, like deposit Solana as collateral, then borrow USDC, swap it to Ethereum, and then maybe like leverage to do that so that they can gain leverage, exposure, like recursive loops, exposure to both Solana and Ethereum.
Exciting Features and Community Engagement
And more importantly, you can do that now without any additional trust assumptions because the soul on Solana is like native soul and the eth on eclipse is bridged through our trustless bridge because our sort of l two bridge contract is on ethereum. So I think that is one thing that I'm very excited about. Yeah. So can you share a little bit more about the eclipse ecosystem and communities right now? And what are you doing to onboard more users as well as builders onto eclipse? Yeah, the eclipse ecosystem today is roughly 40% defi, 40% consumer and gaming, and 20% sort of like infrastructure for DeFi. I think as of the ecosystem today, that's probably the sector that we are most excited about.
Building the Ecosystem and Community
For example, we have orca save and mango markets from Solana that will be deploying on Eclipse and will be available on day one. As far as the second part of your question, what are we doing to get more builders and users? I think for builders that's basically a mind share game. We need to convince them that eclipse is a place worth building on, and that eclipse is this perfect intersection of Solana and Ethereum. Right. It's an environment where you get all of the speed and performance of Solana combined with the liquidity and network effects of ETH, both as network and asset Ethereum itself. And so we've been doing a lot of outreach, we've been doing a lot of builder support, both outside of our ecosystem and within our ecosystem.
Creating an Organic Community Experience
As far as users and community goes, I think one thing that we're very cognizant of, and I think probably a lot of listeners here from the eclipse community will point out, is that our community is a lot more organic than other communities. Sure, we could have turned on a galaxy quest. We could have turned on a ZD quest, we could have growth hacked it and gained ten x more followers on Twitter or ten x more people on this intentionally not doing that because we want to work with our community long term. We don't want to incentivize or invite the wrong type of community. And then the second component of that is giving the community like super fun, innovative, novel things to do, right.
Community Engagement and Value Creation
Because obviously we have a great community. They have a lot of fun in the discord. But Eclipse is also a blockchain. We need to make sure that we work our assets off to give them a fun, interesting and most important thing, like valuable things to do, things that they would enjoy doing without any additional incentives. And so that is basically what we're doing to sort of on product users and ecosystem applications. Yeah. I would like to hear from Dre. I think we have an interesting story about how we onboard it and work with Eclipse team since the introduction to echoes team from Peace Network. So Dre, do you want to share about the onboarding story of m so file to eclipse?
Initial Discussions and Decision Making
Oh yes. So in beginning our plan was not like built on eclipse, but after like several discussions between our team with Eclipse and we are quite amazed about like the way that you guys support projects and your plan in terms of like avoiding more users and the campaigns you guys have planned to do. So we excited about us and after like two, three meetings with Venautica, we did. We and then several discussions within our core teams, we, then we go with the final decisions like hey, let's build on eclipse and let's bet on the eclipse and this layer two because we haven't seen like which the chain that have combination between the speed and the performance of sauna and the liquidity of Ethereum, maybe this is going to be a great bet when we deploy on eclipse and we have quite bullish about this until now.
Deployment Experiences with Eclipse
And I feel like deploying on eclipse testnet and feel like it's so easy to build on eclipse and we are more excited and looking forward when it comes to mainnet. That's all. Thank you. Thanks for warning us. Since our launch on Eclipse Testnet we saw a lot of support from Eclipse team members and the communities. Also, I have seen Hinata commenting on all the threats and tweets about Anslow deployment on Eclipse and I really appreciate that. And I also really appreciate the support from our team as Veronica, she just replies to every like questions from you so quick so we can like quickly have. So I think we only got a few questions left.
Engaging the Eclipse Community
I want to ask Dre like for MS, what strategies are in place to engage eclipse community and educate users about install five valuable revision and benefits. Also with NCO five vision, we want to be a cross chain hub that allows users to explore chains like Eclipse so that they can then borrow cross chain from other chain to eclipse easily and they can participate in different Defi activities on Eclipse as well. Only one on Insta five. Next month we will release a mini app on Telegram so that you can land and borrow on Telegram and on eclipse as well. Yeah, that's pretty much interesting thing that we're going to do to onboard more users to land and borrow on an Sofi.
Upcoming Launch and Deployment Expectations
Yeah, actually a lot of nfas. So I think you have already provided a Tamai for eclipse launch. M so far. Launch on Eclipse. And what about the key milestones and anticipated launch date? You're asking me, right? Yeah, I'm asking you. Oh, yeah, yeah. Of course. So we have launched on Eclipse testnet and we get everything ready and on eclipse minute end of this month. And then after that we can join the ecosystem with our projects. Let's see how we do. Yeah. Yeah.
Final Thoughts and Summary
So I think we are all good with the AMA for now. So Ren and Dre, if you have any questions for eclipse and an Sofia, just briefly because we are going to the Q and a part where everyone can like freely ask the other ones about anything you might think it is related to the EMA. So rang you want to say something for the summary? Oh, like I asked you a question or like do I have any last words? Yeah, yeah. For eclipse. Yeah, yeah. I mean like, yeah, you can ask any question for yeah. About eclipse for everyone. Like community. Yeah, everyone waiting for that man.
Eclipse's Unique Positioning
Just say anything you want. Anything I want? Let me think. Okay, sorry. I think, I think like there's obviously like a lot of l two s out there today, right? If you are a user looking at like the state of crypto today, there's a lot of l two s. There's a lot of l one s. People and builders like, attention span is limited, right? No one has like infinite time to go try out different ecosystems, go build in multiple ecosystems. That's just not how any of it works. Eclipse for me is like at the perfect intersection of a few tailwinds, right?
Comparison with Existing Ecosystems
One, we're going to be the first alto to scale Ethereum by an order of magnitude, right? Like Ethereum today combined has like 260 dp's. On day one, eclipse will easily have like 400 or 700 or like 1000 dp's. The same as Solana, right? So we are building something that's an order of magnitude better than what exists today on Ethereum. Second of all, Solana and Ethereum are the two biggest ecosystems today, right? We are at the perfect intersection of that being an ethereum seml two. And that's very exciting, both for users and for builders, right.
Innovative Strategies for Community Engagement
Whether you see us as like, the next Solana, whether you see us as like, the next generation l two, that's gonna sort of destroy all of the other l two s on ethereum today. I think either of those angles are very exciting. Third of all, we recognize that there are a lot of l two s out there. And because of that, we do not want to do the same playbook. Right? Sure, we can host, like, ten different developer like meetups in different cities. Sure, we can host, like, random hackathons. Sure, we can do, like, random, like, initiatives.
Novel Approaches Moving Forward
But if we do the same thing as everyone else, we should expect the same outcome as everyone else. Right? And I think the outcome is basically, it's not gonna have a high impact. So at eclipse, we are gonna try a lot of novel things. Sure. All of them may not always work. Some of them probably won't work, but we do want to experiment and try new things. Right. So if anything, at least follow us to see kind of like the experiments that we do over the coming year or so. And, yeah, I'll leave it then.
Closing Remarks
Last thing, if you're a builder, if you're a user, if I can help you in any way, whether you want to build on eclipse, you haven't made up your mind yet. You are just starting to think of like a startup idea you want to, like, talk about. I don't know. L two is what crypto is good for, what eclipse is. My DM's are always open. Yeah, I can see a lot of fellow builders here. And if you want to build on eclipse, just DM Rand and I think you should be on eclipse because they are super supportive and their vision is one of a kind standing out from other Altus.
Support from the Community
Yeah, I asked my friends to build on Atlas. Already. Yeah, already connected to Veronica. Yeah, I bring more. Okay. So, Dre, do you have any last words for our listeners today? No, I think that's all for me. All right, cool. I think that's all for me now. Okay. Thanks, everyone, for joining us today. And thanks, Dre. Thanks. Rented for the insights and facts about eclipse and answer five. We hope that you will be welcoming the deployments of Anthofi on eclipse Mainnet and the eclipse mainnet launching in the near future.
Looking Ahead
Once again, thanks for joining us today and looking forward to your support along the way. Yeah. All right. Thank you so much for the invite, Ashley. And likewise, super excited to be supporting on eclipse and look forward to building alongside with you guys. Yeah. Thank you. Thank you, guys. And thank you, Ren, for coming. Thank you. All right. Thank you, gree thank you, Ashley. Thank you, everyone, for listening in. See everyone. See ya. See ya. Good night. Good night. Good night.
