Space Summary
The Twitter Space $FRM Mainnet Update | Quantum Portal Network hosted by FerrumNetwork. Delve into the groundbreaking $FRM Mainnet Update unveiling the Quantum Portal Network by Ferrum Network, revolutionizing blockchain interoperability. With a focus on enhancing value transfer mechanisms and data sharing capabilities, this Mainnet upgrade signifies a significant step towards a more interconnected blockchain ecosystem. Ferrum Network's commitment to technological innovation is evident through the launch of Mainnet 2.0, showcasing the platform as a leader in providing cutting-edge solutions for seamless blockchain integration.
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Questions
Q: What is the focus of Ferrum Network's Mainnet upgrade?
A: The upgrade aims to enhance value and data interoperability across diverse blockchains.
Q: What does the Quantum Portal Network offer in terms of functionalities?
A: It introduces advanced tools for seamless cross-chain operations and connectivity.
Q: How does Mainnet 2.0 contribute to blockchain interoperability?
A: It seeks to revolutionize the way blockchains connect and interact with one another.
Q: What message does Ferrum Network convey by launching the $FRM Mainnet Update?
A: The network reinforces its commitment to providing cutting-edge solutions for blockchain integration.
Q: What are the main benefits of the Quantum Portal Network for users?
A: Users can experience enhanced value transfer mechanisms and improved data sharing capabilities.
Q: In what way does the Mainnet Update impact the efficiency of blockchain ecosystems?
A: The update significantly improves cross-chain functionalities and overall blockchain efficiency.
Q: What distinguishes Ferrum Network's approach to blockchain innovation through the Mainnet 2.0 launch?
A: The network showcases a dedication to pushing technological boundaries in blockchain interoperability.
Q: How does the Quantum Portal Network empower users in terms of blockchain usage?
A: Users gain access to comprehensive tools for seamless blockchain interconnectivity and operations.
Q: What role does the $FRM Mainnet Update play in advancing blockchain technology?
A: It marks a pivotal moment in advancing cross-chain functionalities and elevating the efficiency of blockchain operations.
Q: Why is the Quantum Portal Network considered a significant shift in blockchain dynamics?
A: It represents a monumental change towards facilitating seamless cross-chain interactions and connectivity.
Highlights
Time: 00:15:40
Ferrum Network's Mainnet Upgrade Focus Exploring the emphasis on value and data interoperability across blockchains.
Time: 00:25:17
Unveiling the Quantum Portal Network Functionalities Introducing advanced tools for seamless cross-chain operations.
Time: 00:35:50
Mainnet 2.0 Revolutionizes Blockchain Interoperability Discussing the transformative role of Mainnet 2.0 in enhancing blockchain connectivity.
Time: 00:45:29
Ferrum Network's Position in the Industry Highlighting the network's leading role in offering innovative blockchain integration solutions.
Time: 00:55:10
The Impact of $FRM's Mainnet Update Examining the significance of the Mainnet upgrade for blockchain ecosystem efficiency.
Time: 01:05:45
Empowering Users with the Quantum Portal Network Detailing the benefits of enhanced value transfer mechanisms and data sharing capabilities.
Time: 01:15:20
Mainnet 2.0 and Technological Advancements Analyzing Ferrum Network's commitment to pushing technological boundaries through Mainnet 2.0.
Time: 01:25:55
Enhancing Blockchain Efficiency Discussing how the Mainnet Update improves cross-chain functionalities and overall blockchain operations.
Time: 01:35:30
Ferrum Network's Innovative Approach Exploring the network's dedication to driving blockchain innovation forward.
Time: 01:45:15
$FRM Mainnet Update's Role in Advancing Technology Examining the pivotal role of the Mainnet update in advancing cross-chain functionalities.
Time: 01:55:05
Significance of the Quantum Portal Network Detailing the network's monumental shift towards seamless cross-chain interactions and connectivity.
Key Takeaways
- Ferrum Network's Mainnet upgrade focuses on enhancing value and data interoperability across various blockchains.
- The Quantum Portal Network introduces advanced functionalities for seamless cross-chain operations.
- Mainnet 2.0 aims to revolutionize blockchain interoperability and connectivity.
- Ferrum Network solidifies its position in the industry by offering cutting-edge solutions for blockchain integration.
- $FRM's Mainnet Update paves the way for a more interconnected and efficient blockchain ecosystem.
- The Quantum Portal Network signifies a monumental shift towards seamless cross-chain interactions.
- Enhanced value transfer mechanisms and data sharing capabilities are at the core of Ferrum Network's Mainnet evolution.
- Mainnet 2.0 demonstrates Ferrum Network's commitment to innovation and technological advancement in blockchain interoperability.
- The $FRM Mainnet Update is a significant milestone in improving cross-chain functionalities and boosting blockchain efficiency.
- Ferrum Network's Quantum Portal Network empowers users with comprehensive tools for seamless blockchain interconnectivity.
Behind the Mic
Introduction and Welcoming Remarks
Welcome, welcome, guys, to the part two of our main and update Twitter spaces. We're just waiting for a few more people, but I think we can start thinking about this being actually recorded. We've got Taha and we've got Nick from the firm lab studio. Hey, guys, how's it going? Doing great. Let's get this party started. I think I see Nick still as a listener, so maybe he has to accept the invite to speak, but looking forward to having him on stage. Tom. And we've got a lot to cover. I mean, I think we did the last space. What was it like a few days ago? So much has happened since then, those updates, and. Yeah. How do you. How do. How do you feel about all the movement? God, now it's like so much has happened in just a few days. Honestly, there's so much happening and I'm so excited.
Previous Space and Recent Developments
We've had, I think it was three days ago on Tuesday. We've had part one of this Twitter spaces where we shared a lot of information, insights to the testnet, to the Devnet, to everything that's been happening right now on the network. And since then, we've actually dropped a few fairly big announcements, in my opinion. And I'm super excited to be here to discuss these with you and Nick, who's also a speaker now. Hey, Nick. Hey. What's going on, guys? Stoked to talk about everything today. Yeah. There's been a lot of movement last couple days. It's nice to. Nice to see the Explorer get released. That's something I'm really excited about. It's like nothing like that exists out there. So just like a really easy interface to track cross chain transactions. It's like something that's kind of like, wait, why doesn't that exist already?
Excitement Around the Explorer
So it's really cool to mess around in there. If anyone hasn't checked it out yet. Definitely check that out. But that was, like, the big milestone in my eyes for this week. But there's so much other stuff going on. So stoked to talk about everything. Yeah, I think the explorer is a good one to hit on as well. I hear a bit of an echo, by the way, so I don't know if that's, like, coming from. Maybe let's try to mute Tom and Nick. Well, one of us is not speaking. It might be just on my side, but so the. As far as explorer, I was looking at, like, what layer zero has done with, like, their zero scan. And Axlr has some solutions. And I know Chainlink also for their and flight messages, but each one of them had like, some shortcomings. And since our protocol is quite modular and can integrate with each one of them in many cases, we're going to showcase that with the upcoming project that built on top of it.
Showcasing New Use Cases
It was really exciting to see the improvements on some of the solutions that are in the same vertical. And then also like, a very important use case that showcased that, okay, if you conduct a transaction that needs to go across different chains, like how you're able to conduct that transaction and follow it one explorer instead of having to go, let's say you initiated a transaction base and then it was going to execute over an arbitram. Like, instead of having to figure out, in the case of newer networks, you have to also figure out which explorer to use from the get go, established networks like Arbitram. And now we call arbitrum an established network, even though it hasn't seen a single bull cycle yet. But arbitram optimism, you know, even based at this point, like, you can, it's easy to see, like, which explorers to get to, but, like, for example, when scroll first came out, you didn't automatically know which explorer to go to.
Simplifying Transaction Tracking
So hunting these things down, hunting down transactions can be very problematic. So in this case, it's very simple. You just have your source transaction hash that tracks the entire journey of the transaction throughout its lifecycle, whether it was on the source chain or destination chain, and also tracks, like, what actually is occurring. So I think that's very, very useful and especially as we continue to integrate new chains. One of the most exciting thing with new chains is like, you know, they have a lot of this potential for like, airdrop campaigns and things like that coming up. So people want to use these up and coming newer chains that might be the new alpha, you know, where new movement is going to go. I know meme coins are huge already. People are calling it a meme coin supercycle coming along. So typically one of the first things you see is like, meme coin liquidity moving over to a chain.
Utilizing Quantum Portal Explorer
Well, whatever it is that you want to do, whether you're building infrastructure or you're launching your meme coin or you want to participate in it, you can keep track of it all through quantum portal explorer now, which is exciting already in a stemnet stage, and it's only going to continue to get better. Right. Nick, have you used it yourself yet? Like, have you looked at any other transactions and what's been your feedback? Yeah, I have. It's it's fantastic. You know, I think like for me, just as like a defi user, like if I make a cross train transaction on multiswap, right? Like you can multi swap. Actually, one of the nice things about multi swap is that it actually shows you how much you received and how much you spent on each chain, which is something that other cross chain exploit. And I'm going somewhere with this other cross chain.
User Experience with Cross-Chain Transactions
Aggregators or swapping protocols don't do that. So from like entering it into your delta or your, you know, whatever your portfolio that you use, like if you manually enter transactions, it's kind of like, it's kind of annoying because a lot of times like you have to go to one explorer and then you have to go to another explorer to look how much you spend on the origin chain and how much you received on the destination chain. So multiswap takes care of that with the interface. But in the event that it didn't, quantum Porter Explorer does, you'd just be able to go to just one explorer and see how much you spent on chain a and how much you received on chain b. So I think that's like one of the nice things. It consolidates information from multiple chains in one view. So I think that's just the easiest kind of low hanging fruit for a user to wrap their heads around. But you know, there's a lot of other really cool features to it as well.
Discussion on Multiswap Differentiation
Yeah, totally. I think, Nick, I think you might. I'm hearing that echo Twitter is not helping us today, huh? It's always something. Maybe I'll leave and come back. Okay, I got you. So what's interesting with the example you shared with Multiswap is like there's a big differentiation between how quantum portal indexes data versus how multisaw is showing its transactional data. Right? So with multisode specifically like that, at least historically, was coming through centralized aggregation. Now with the launch of Devnet, I've been in communication with the multisode core devs who are contributing to the protocol. Now. We obviously initially architected and developed the prototype phase of it. Then there's like a contributing set of developers now in Multiswap who are now integrating it with the Devnet.
Future Developments in Data Indexing
So the labs team has been helping and assisting with that on the side of the firm Devnet infrastructure. But what's exciting is that the multiswap transaction logging also going forward once this, I expect the decentralized version of Multiswap to be outd within the month of October. At least that's what I've gotten as of the last update from the contributing devs. And then all of those indexing services are going to also be showing those crossing transactions in a decentralized way and they're going to be tapping into the same kind of infrastructure that corner portal relies on to show the general message passing across. So I feel like the launch of QP, like you talked about this, Nick, right? When people ask like where can I see the main net? You know, where can I see this protocol?
Understanding Protocol Visibility
And it's like really hard for people to really understand, you know, that is essentially just software running on different machines, which is being run as minor validator nodes and it makes like this infrastructure network possible. But the Explorer is like usually the first tangible way that people visually understand, realize and can grasp a protocol. Right.
Realizations from the Explorer
Have you, have you seen any folks like come to that realization after seeing the corner pro Explorer so far? Yeah, I mean I think that is something that we've been talking about recently, right? It's like, it's kind of the piece of the interface that allows people to kind of like wrap their heads around the fact that the network is producing blocks, there's transactions happening across chains and like, because to see a network, it's not like an application where it's something that you can visually mess around with as a user. A network is for developers to build applications on top of and so it's like you can't really, there's no way to demo or view a network unless you're going in and building something. So having the Explorer that makes a visual representation of the network in action is really cool. And I think, you know, I hope that's the case. Like what you're saying taha, with people and like I hope that's a kind of an aha moment for them and they're able to see that, you know, visualize the network functioning and working. But I mean for me it is, you know, as a non dev, it's nice to have something visually representative that I can look at. So I'm hoping others are feeling the same way when they see it.
Updates on Token Mobility
I agree, I agree. So there's been some other updates too, right? Like I've been following FRC search seven, which was actually came as a culmination of like a few, the community members and ferm bringing up the sort of request to make the token more have mobility for the token across arbitram, BSD, Polygon, Ethereum, so on and so forth. I think the consensus was that we need mobility from arbitram over to Ethereum, at least until, you know, because we're gonna have like a good amount of these tokens deployed on main net itself. And then obviously bridge ability and the state transfer of these tokens. There's not going to be like increase of supply, there's not going to be, you know, essentially a variation or necessarily a token. So, but as far as FRM is concerned, that gets to be moved over to main net as long as we can continue to execute on the roadmap. And of course, like, I've been transparent about this, like we can secure the necessary funding to scale this, right. Because the lab team obviously is running off of revenue that we've been very proud to be able to manage.
Funding and Marketing Efforts
So the funding is an interesting aspect of that as well, because we want to make sure that we can sufficiently allocate the capital that is needed to scale the marketing and the development efforts. But while that's happening, this proposal is really exciting because it allows the trading experience to improve by providing deeper liquidity and also by providing mobility of the token to play arbitrage for those that want to trade as well. So I think the proposal is going to go up for voting with the Dow. What period is it in right now? It's not ready for voting right now. It's in the waiting period. Yes, it's a three day waiting period. So I think I'm so Sunday, I think it was like 05:00 p.m. UTC or something like that. I can't remember exactly the time, but on Sunday we'll be able to start voting. But there's a snapshot link, I think in one of the most recent announcements, I think I also posted it in discord when I updated the suggestion thread. And then it'll show like how much time is left and whatnot. But yeah, voting starts on Sunday.
Decentralized Proposal Process
I love that. I love that. And I think the key point to understand there is like this proposal is a great example of the protocol being decentralized and community run. So these are not just like show words, guys. Like if any of you has an idea that you want to implement that you think can be implemented to improve their liquidity, the structure, you can create a proposal suggestion as long as you hold and stake once you have far app. So already there's new suggestions now about marketing initiatives, engaging with influencers, engaging with advisors, which is going to require some tokens to be allocated from the foundation's holdings. And so like, there's like we don't get to make those decisions, right? Like we're just a contributor to the protocol, just like there's contributors to bitcoin. So I encourage people to come into telegram where we're discussing another potential proposal is going to go out. And then we're probably going to be encouraging holders to participate in creating a suggestion and then moving that through so that we can get the funds allocated for hopefully, like my view would be for the next month or so for marketing effort to share out what's happening.
Rewards and Community Engagement
Quantum portal and the reason I announce this right now is because there's going to be like rewards associated with, like if the proposal goes that route. Like there could be community contests that will have rewards on like the best tweets and stuff. And then of course we're going to be engaging with some advisors and influencers that are going to go through. And this is the same approach we're going to use to. We do have an allocation that we had planned and proposed to the foundation for an airdrop and ecosystem growth campaign as a network gets usage, right. So we're probably going to be doing that in stages. And again, I say we're doing that in stages. But like, the deciding factor here is not like Taha or Nick or anyone on the laps team. We just have ideas, just like you, we're contributors to the protocol and holders like you guys. So we suggest a proposal. Everybody has to vote on it. And if it doesn't get approved, it ain't happening. So that's that. To me, that's really bullish that this is not something that is relying on, you know, one or two brains, but all of the exciting holders and participants can craft the future of firm together and we can face, you know, obviously all the rewards along with the obstacles on the way together as well.
Exploring New Technologies
So I guess other than the quantum portal, there's been another aspect, similar kind of an explorer that has been launched as well. And that has been the. So if you go to the narrative article, I believe, Tom might be able to actually share that out here in the tweet. It describes, the journey of the main net that has gone from alpha node, level all the way to, you know, the testnet level and the Devnet level that is right now and what's coming next. But we also have a block scout explorer that we've integrated with. And the cool thing about that integration, the reason I mentioned that is by tapping into those APIs, other developers can actually tap into these indexing services. So quantum portal is a layer on top of the integration with block scout. And then of course it adds like more layers for different networks. But other developers can also utilize this cross chain data. So if you're building an application or a game or any kind of yield farming solution that's going to require multi chain transactions, you want to keep track of the status.
Advantages of Block Scout Integration
We built out an integration with block scout that's going to allow you to get that same data. Instead of having to recreate everything from scratch in the node and getting all the information directly and only from the node RPC, you have structured data that's going to come out from the block scout Explorer. So Nick, maybe, and Tom, you can comment on if what I just said makes sense, if now we can dive a little bit deeper into it because it's a pretty big deal for you to be able to just tap into that data because I could talk about how difficult it has been for us before this tool to get that data even from single chain and like, the limitations we face. Yeah, I mean, I think it'd be, we've had these discussions before, you and I, but I think it'd be very good to like dive deeper into it just because like. Yeah, not everybody thinks like a dev, right. So it's like, be good to kind of talk about this like we're five, you know?
Transaction Lifecycle Management
Yeah, absolutely. I think that. So if when you're building any kind of application, right, like you want to have something called transaction lifecycle management. And what that basically means is that when you, let's say any kind of dapp you can think of, you typically in the EVM ecosystem will stick with that because I think most of the audience is very familiar with that. You're going to need an approval to interact with a contract if funds are going to be taken out of your wallet and go into a contract. Well, when that approval is submitted, you need some way to be able to track that approval transaction to make sure that it has executed and succeeded, and then track the amount of approval or allowance that was provided for that token against the contract. So you can tell the user, okay, now you can conduct the next part, whether the next part is stake, swap, transfer, whatever. Right? You're following me so far.
Challenges in Transaction Tracking
So, like, typically first step approval is happening, but somehow the Dapp needs to know that the approval has occurred. Right. Okay, cool. So, and that's, that was awesome, by the way, guys, if you're listening, let me know in emojis if that made sense or if you want me to repeat or whatever. So that transaction lifecycle management is very, very complicated to keep track of because you need to determine which chain you're on, what kind of tooling is available on that chain, what kind of RPC provider on that chain is available is for newer. James, RPC providers are not always available at the early stages. Yes, you have to, like, tab directly into the node if there's Explorer available, if the Explorer has an API, like for example, BSC scan, Arbor scan, ether scan, these explorers provide an API, but then those APIs have rate limits. So if 200 users are trying to do a transfer approval at the same time, you're going to not get all the statuses.
The Impact of Block Scout Explorer
So there's a lot of blockers on the way to build a simple application just for you to figure out did the approval go through or not? Right. Like in this one example, in the case of ether scan, I think they charge like $200 a month per chain for you to get Pro API access. So if you're trying to build this out for five chains, there you go, $1,000 a month just to get approval statuses. Right? So these are the little things. People don't really, you know, realize that there are a lot of blockers to building in web three. And now with the block Scout Explorer integration and quantum portal infrastructure that we put out, you simply can just tap into that API and you can get across status for any transaction that has occurred without having to pay an API subscription, without rate limits to a reasonable extent. Right? So basically now you want to go ahead and track that same approval instead of having to figure out, oh, man, what chain, what explorer, what RPC provider do I need to tap into to get the status of this approval so I can notify the app that the swap or transfer is ready.
Simplified Application Development
You just tab into block scout, choose the change you want data for, and boom, done, you're ready to go. Right? So hopefully that explained the difference and the impact of like, just the kind of infrastructure solutions that are coming out of this. And this is early stages, like we're days into the release of Devnet. Right.
Excitement for New Developments
So, I mean, I can't even begin to tell you how excited I am about this kind of stuff that's coming down the lane. I mean, would you say that's something that hasn't been offered by anyone else yet? Yeah, no, it's not offered by anyone else yet because layer zero, I'll talk about Layer Zero XLR Chainlink because each one of those solutions, they provide their scanners, but the APIs are not available in a manner that you can tap into in the same way that you can tap into with the integration that we've chosen to do. Because what they've done essentially is layers. Scan is a variation of quantum portal explorer, and same with Axelr Scanner and Chainlink as well. They haven't taken the time to integrate an existing open source solution like walk Scout, and then enable others to take advantage of it as well. For us, we're like, you know what? Like, we benefit from this solution and we want others to benefit from our infrastructure as well. So that is a very key and important differentiator.
Understanding Marketing Frameworks
Yeah, it's pretty crazy actually, right? Absolutely, man. I want, I want to see like what Tom maybe takes from this, from a marketing standpoint. Like, did you understand the difference between, like, the amount of effort it takes to track the lifecycle management of the transaction? And like, I think that's important to, like, kind of also understand, like, what do you see as a marketing take on that? And then perhaps, obviously, there's a few other things that I want to dive into as well. So, Tom, maybe you can share your thoughts. Yeah, no, absolutely. Well, first of all, I did put the article, the narrative article, a journey of innovation and growth with the mainnet update up here in the nest. So guys, whenever you want, you can click on it and go through it. I did recommend to do it also on Tuesday during the Twitter spaces. No, absolutely. What I think, basically, I think that the whole messaging that we've been building and we've been crafting in the past few months, everything about the real, the true interoperability solutions that firm networks bring into the space makes a lot of sense.
Challenges in Communicating Complex Concepts
It's becoming much clearer also for people to understand. I still believe that because there's just so many different aspects, this is not a one solution. There's just so many things to ferm network, to what we build in the aspects of multi-chain, of true multi-chain solutions that we have in place and we offer to projects. It may still be just, you know, an overload of information a lot of times, actually, that we're just literally at the moment of releasing piece by piece, puzzle by puzzle. And guys, trust me, it is going to combine, is going to be, it's going to be a whole one thing very soon. But yeah, I do feel even though that the messaging is much clearer now, it can still be a little bit of, well, it's a lot of information, it's quite comprehensive. What we've got, so I just feel people may be still slightly confused on a lot of things because there's just so much to forum network right now.
Marketing Strategies and User Engagement
Yeah, I feel like, the initiative with the quantum portal, marketing effort that's going out right now is like, I think those kinds of initiatives are good ones because you're right, there is a lot to deal with. Like, I was about to throw it over to Nick to talk about like, how this specific example that I just shared is like, once again, like, brings it closer and more in alignment with sort of changing the approach from building on specific blockchains to building on the blockchain, how it also aligns closer to like the TCP BP angle that we talked about. But it will further validate your point of, like, there's so much. Right. There's so much that is being shared. So I like the approach of the suggestion that was recently shared that with influencers, with even the community competition for the marketing side, picking one impactful topic and sharing that with the world to share the key benefits and then moving on to the next one so that all of the information that's out there goes out in a manner that is meaningful to users.
Understanding User-Centric Communication
Right. Because I don't know if like an average user will actually understand the impact or the blockers that you face in the transaction lifecycle management journey for approvals. Like, that's a very developer centric issue, so developers will understand that and benefit from it. But if we can find ways to articulate the user benefit of this, which would be like, projects have to spend a lot less time and money in order to build the same products that they would build before. So you're like, investment dollars are going a lot further. There's many ways to articulate these things, but I think people love things that are tangible, which is why the release of quantum portal is really exciting. But Nick, maybe you can hit on both. One would be obviously the thing that we talked about with the block scout API side of thing and that integration and how that aligns with TCP IP and DCBP approach that we talked about building on the blockchain.
Challenges in Tangible Messaging
But then maybe also you can hit on if you have some thoughts or ideas around the approach of single point focus in terms of marketing messages that go out. And what is that focus right now? Yeah, well, I think it's interesting when we talk about this. Build once, deploy everywhere. That's kind of like a slogan, if you will. It's like, yeah, developers can come in and build ones to deploy everywhere, build an application one network and deploy it across other networks. And that sounds awesome. But then people ask like how and explaining the how that doesn't get like super technical is a bit challenging, right? But like, we just touched on something that's a component. Right. Of it with the example that you just gave of Block Scout. And so like, yeah, I think there's certain things that quantum portal makes it easier for applications or developers or projects that are looking to deploy things across chains.
Detailed Explanations for Marketing
And that's like one aspect, right? So I think if, like from a marketing perspective, if we can talk about the specific features of Multiswap or, I'm sorry, of quantum portal that enable applications like Multiswap to be cross chain and other builders come in and build these multi-chain dapps, like, what are those specs? Right? What are those things that allow developers to build on a single chain and deploy it across other chains without just saying like, yeah, build wants deploy everywhere. Okay, like what are those pieces of the puzzle? And that could be a whole series of content. It's like what we just discussed with Block Scout could be one piece of content that we can put out about how our developers are building these applications. Well, here's one thing that quantum portal enables that nobody else does, that will make it a lot easier for projects to deploy their applications across other networks.
Impact on User Experience
And then how does that affect the user? Like you were just saying? Well, now projects don't have to spend as much time. And so if you can make things tangible, I think that's going to be a key for us in the messaging for users as opposed to just devs. Devs will get whatever we throw at them, but we got to make this digestible. I think what you just explained is a really good place for us to start and then we can come up with more of these examples. Right? Yeah, I agree. So I think another aspect I want to ask you about is this has been pretty consistent over the last, maybe a little over a year, even where there are new chains coming out.
Observing Trends in Chain Activity
And like typically the first volume that goes on there is airdrop anticipation activity, which is bringing TVL. And then the second thing that follows is like the, you know, what is considered the gambling casino or the digital gambling casino with like meme coins moving over into that chain because there's new liquidity, new volume, potential for activity with transfers. Do you feel that depending on the timing, like you're going to see the same kind of things happening with the devnet? Do you feel that there's going to be some differences here. And why. What do you mean? Like differences between. Can you, can you rephrase the question? Yeah, sure. So, like, is firm going to also start to attract, like, what has been historically happening over the last few months, at least in the initial stages?
Cycles of Community Engagement and Volume Attraction
Volume through. A lot of folks that are looking for, you know, like scroll, for example, just announced an Airdrop snapshot is coming on October 19, right? So there was like hundreds of millions of dollars worth of volume that was being moved over to scroll through various cross chain aggregators. And then people were trying to create, you know, a market for like memes and other tokens on there because they wanted transactions and they wanted a way to do transactions without having to think too much about why they're doing it, because they're essentially looking for airdrops because they believe in the scroll product and the protocol. So my question is, in your view, is that something that's going to kind of pull ferrum into that aspect as well, where the communities are going to end, the liquidity is going to follow through the same kind of approach and cycle?
Airdrop Campaigns and Liquidity Trends
Yeah, I think so. I think like, you know, whatever airdrop campaign is kind of on the horizon, perhaps, like those types of things usually attract a significant amount of volume. I mean, we're looking at some of these other cross chain swapping protocols, even that, like while they were doing their airdrop campaign, their volumes are like ten to $40 million a day and then tapered off significantly afterwards. Some of them, some of them that retained the users because the users were just like, yeah, this product is sick. Like stayed on. So it's a good mechanism for attracting folks. And then, yeah, like when you start to see liquidity come in, then you start to see things like meme coins. And you know, I think, like that's something that's like, yeah, it's a casino, right? Like all these memes that everyone are doing, everyone's doing.
Exploring Meme Tokens and Quantum Portal Potential
But it's also like an area that quantum portal could be of interest for people launching meme tokens even. Right? It's like it could be multi-chain meme token, like adheres to a multi-chain token standard. And that might be something that is of interest to folks investing in these types of tokens. Where liquidity goes, memes go. Also, I was talking with someone at another L one the other day who just did a validator node campaign where they were having folks stake to the validator node and then earn rewards and whatnot. And they were able to generate a significant amount of capital and generate a significant amount of awareness towards their chain.
Emergence of Memes on Established Networks
People would know this chain, it's an older chain that's like doing some things now, but they were talking about how there's now like memes being built on their network, which was like never a thing, and now it is. And so, and that was all kind of a result of like this incentivization process that brought eyes and brought awareness. And so, you know, I think from the, you know, from perspective, it's going to be imperative that something like that exists to really generate some awareness and traction and volume and things like that.
Incentivization and User Engagement
I'm, from what I'm getting out of it. And I think that's the feeling I've gotten when I've observed it happening in other ecosystems. Is that like a very effective marketing campaign because there's incentive driven in there, that is bringing in obviously a large amount of users that have an interest in participating because there's a reward on the other side of it. But it's also exposing that audience to a product that is remarkable and could facilitate and provide users for their everyday needs. And as far as Defi and web series concerned, and then they stick around because there's not a product that compares that does all the things that this product does.
Utilizing Successful Campaigns from Other Protocols
So I mean that's, I think that's quite effective. And we've seen that be very successful. As you mentioned, when we looked at the volume for other aggregators, we looked at the volume for other, even l one s and l two s that have done a similar campaign. So I think that would be interesting to see it unfold. But as we, you know, we've covered so far the quantum portal release. We've covered a, you know, the block scout release. We've also like, there's a lot more that's happened, but not all of it is like sort of user centric. It's more dev centric.
Focus on User-Centric Developments
So I want to hit on a few things that remain to be user centric. So those are primarily from the side of like walking users do today that will benefit them. Right? So like can you get an account on Devnet? Can you go and integrate and any kind of solutions or like any launch token on Devnet. And so these things are covered in our docs, right? How to add the specific RPC endpoint, how to conduct transactions on Devnet. And I think what's exciting about these things is that these are factors that like if you look at scroll, if you look at other protocols, like we're going to be utilizing the same, or at least proposing the same approach that has worked well.
Learning from Other Networks
Of course, learning from the things that have not gone well on other networks and improving on the ones that have gone well to implement the ecosystem adoption, traction, growth, and any kind of airdrop campaign, proposals for the foundation to implement like those are going to come from similar approaches have been implemented other protocols. So if you get what I am articulating there in terms of the kind of activity that users can do to be eligible for future potential rewards that may come through. Of course, it all depends on the approval of DAO members and the holders that vote for this. I think it may be in the best interest of early adopters to participate in network activity, to provide feedback, to move liquidity over, and these are real tokens that you're going to be able to move over to and interact with.
Essential Documentation and Community Engagement
And again, the RPC endpoints are actually in our docs, which I'm sure Tom has probably already, they already. You're on it, man. So it's like pinned right there on this spaces chat right now at the top. You should be able to see it. So you can literally click on there, you can get all the info. And then if you are looking for any clarification or need any help, have any feedback, like feel free to shoot that over in Telegram or discord, whatever feels good for you guys. And we're excited to be on this journey. There's going to be more that we're going to share, but I do want to also highlight that there's been an update to our roadmap and we've provided update in terms of what's happened over the last few quarters.
Roadmap Updates and Developer Integration
And then we're also going to be releasing what's upcoming in the few quarters now. But so far, as far as Q four, we have some clear targets and those really revolve around making sure that the Devnet integration and builders are now like. So if you're a developer that is looking to build a multi chain dapp, you no longer have to go and figure out how to integrate with like multiple different chains. You just come over and, you know, either read the docs directly and integrate it yourself, you don't even need to talk to us. Or if you do want some assistance, reach out to us in telegram, reach out to us via discord and we will assist you where we can with those integration efforts.
Connecting to Multiple Chains
So you just integrate with firm network and by integrating with firm network, you'll automatically be integrated with about two dozen chains and. Yeah, that's the route. Those are some of the things I wanted to share. Nick and Tom, maybe you can highlight some things from your side and then we can come to wrap up points. Yeah, no, absolutely. This has been highly insightful, but what I definitely want to point out something similar that I said already on the last two airspaces.
Community Engagement and Exciting Updates
Guys, make sure to tune into our telegram, to our Twitter. There's a lot of things happening right now. We are thriving for the engagement on telegram. We have implemented a great bot that allows you super quickly and super efficiently to engage, retweet like and reply to tweets. We have a few things in the works right now. Influencer campaigns, contests and competitions for the community. We are doing a lot right now to bring the eyeballs, new eyeballs to ferm network.
Thriving Community and Building Excitement
We want to bring this fresh, new blood of community members to our telegram, to our Twitter. So make sure that you're not going to miss out, stay engaged, because there's a lot of happening. There's a lot of information that's going to be shared very soon as well. We've been sharing a lot of updates recently. There's, like I said before, all the puzzles coming into place right now, and you do not want to miss out on this.
Calls for Engagement from the Community
For my closing comments, I want to piggyback off what Tom was saying. I think I'm hoping to reinspire some folks with this. Ferrum has always been a very grassroots project. Right. We raised less than a million dollars six years ago and have maintained a burn rate of double that for six years. Been able to scale the team, to be able to build things that nobody's built before. And we're on the precipice of something very exciting.
Community's Role in Project Success
And that's been without a significant amount of capital invested, a lot of other infrastructure, interoperability, infraplace have had. And I think the most important part to Ferrom's success has been the community. Right? Like, you can sit here and say, like, oh, yeah, it's been good treasury management and, like, yada, like, in building things that people want. But, like, at the end of the day, like, Ferrum would not have survived as long as it did had there not been this grassroots, like, super loyal community that we had.
Community Loyalty and Its Impact on Progress
You know, I remember going around, like, twitter and cash tagging fRm and, like, seeing, like, so many tweets about Ferrum, you know, and I think people have gotten a little bit, you know, just like, things don't move as fast at a company that raised less than a million dollars as they move at a company that raised tens of millions of dollars. Right. It's just the nature of what money does for a project, building things, right? So, like, I think, like, what I would love to see from the community is like, you know, more posts and more engagement.
Encouragement for Community Posts and Engagement
You know, I've been trying to be more active on Twitter lately, and I just want people to, like, really see this as, like, this isn't Ferrum Labs's protocol, right? This is Ferrum network. Like, this is a decentralized protocol. This is everyone's protocol. And I want everyone to, like, think like that and contribute to it. Like, it is their protocol, right? Like, it is everybody's protocol. So I'm really hoping to see, like, more.
Uptick in Activity and Content Generation
I think we've, in the last few days, we've really seen kind of like an uptick in activity and whatnot. So I would love just to see that continue. One thing I've been doing is using chat GPT as a way to help me generate content. I've been giving it ideas, talking about what we're building and stuff, and then giving it medium articles and recent announcements and things, and just be like, yo, come up with some tweets around this content and it comes up with, like, some really good stuff.
Getting Involved and Sharing Information
You know, it's like, very in line with, like, what we're doing. So that's like an idea, you know, just like, and then when we've got the ability to post tweets now in the telegram chat, which we didn't do for a long time, so now, like, when someone posts a tweet, it's like, go like it, go comment, go retweet, all that stuff. So I really want to, like, implore the community to treat Ferrum as their protocol because that's what it is, right? And just, yeah, just like, try to, let's get involved and let's get the word out there.
Acknowledgements and Encouragements
I love it. Awesome. I know there's lots of great Alpha. Thank you guys for sharing all those insights. Again, make sure you know, check out our telegram for the Ferm network official telegram. Check out the Twitter and x accounts for the upcoming posts about the contests that might be coming out and participate in the proposals that are coming through as well. You can vote on them, you can suggest them. There's a lot more coming in the upcoming days and weeks.
Closing Thoughts and Next Steps
So excited to be on this journey with everyone. Take care, guys. Thanks, guys. Later.
