Sei DeFi Builders #2

Sei DeFi Builders #2

This space is hosted by FilamentFinance

Space Summary

The Twitter space explored the current state and future prospects of the Defi ecosystem, emphasizing the advantages of standalone Defi projects, community collaborations, and the importance of anticipating and shaping the narrative. Participants engaged in discussions on how the ecosystem’s growth thrives on innovation and community feedback, highlighting the broader aspects of competition beyond technical capabilities. The significance of platforms like Filament in enhancing discoverability within Defi was emphasized, reflecting the community’s enthusiasm and commitment to continual value creation and connectivity among projects.

Questions

Q: What advantages does a standalone Defi ecosystem offer?
A: Speed, finality, and increased options for builders to create novel use cases.

Q: What was the focus of community collaborations within the Defi space?
A: Promoting growth and innovation through joint projects.

Q: How important is community feedback in the Defi ecosystem?
A: Vital for assessing reactions and shaping future developments.

Highlights

Key Takeaways

• Discussions focused on the advantages of a standalone Defi ecosystem and the potential for creating innovative use cases.
• Collaboration among different projects within the Defi space was highlighted as a positive trend.
• The importance of community feedback and reactions to ecosystem developments was acknowledged.
• The competition within the Defi ecosystem extends beyond technical capabilities to include go-to-market strategies.
• The significance of platforms like Filament for discoverability within the Defi space was emphasized.

Behind the Mic

GMGM. Hey, what’s. Good morning. Yeah, what’s up? How are you guys doing today? Doing great. I believe you should mute the filament account. It’s. Just perfect. Awesome. Yeah. Thank you so much for joining in. I would just like see a couple of more minutes. More people will join in. So, sorry Owlracle. Sorry Abhi. No, it’s it’s it’s all good, guys. Thank you so much everyone for just kind of like joining in. Yeah. We are super excited to have like Owl. We are super excited to have everyone Patrick DePhi Moon. We have Do Kwon making a comeback. But really we’ll start with like a round of introduction. We have like almost like all the captains from like with us. Just like feel free to kind of like mute your mic, Abram. And same goes with Arc as well. I mean, you want to start with like a quick round of introductions. Just would love to start with Jenoz right and like kind of explain what we all are building and just give a quick background. Sure. GM, everyone. My name is Jen. I’m the co founder of Filament. And here, today we have so many wonderful founders and ecosystem participants over here. And thank you so much Dom and Abhi for organizing this space. It’s a pleasure meeting you all. Just a brief introduction about Filament. We are the discovery protocol. Our aim is similar to what Nixon is doing for the internet. That’s what we do for open infrastructure. We are a chain agnostic protocol that brings out all the different layers of a package in terms of decentralized front, frontend, smart contracts and storage. Even we are actually covering CDN very soon. We are talking to three main protocols which we are very excited for. And most of you know what that is. So we’re trying to solve that whole stack and have like a one click deploy deployment, discovery for everything. And we believe that we can be a very good use case and have fantastic use case in the context of say as well to bring out the whole dictionary and make it open for every community member. That’s what we are building at Filament and just a very brief background about me. I’ve been, I’ve been building decentralized applications for the last 10 years. Even before DeFi, even before NFTs were becoming popular. And I must say the smart contracts and about how centralized systems work, version control on on all of those things. So I used to work at Docker back, then and the power of containers. It holds and the power it holds. And my co founder, Yesse, he is equally experienced. We used to work back in these companies back end days. He was working with Voldamador. And now we are really sort of seeing a visionary and very decentralized stacks across every kind of layer for community members. Community can kind of use that and bring the data very easily. So, that’s about it. Glad to meet you all over here. Again. And of course building the open dictionary sounds wonderful. For the space for sure feels like well poised to be behind all these innovation stacks. It’s quite critical actually. Let’s move on to macro. Introduce yourself. Introduce your team. How’s it going in terms of marketing? Hey. So Hey, everyone. Just a quick introduction about say and the Nitro Wallet. Just quickly, I’m sure everyone knows about say in general, it’s very interesting application specific blockchain which I have been sort of very involved with the community building aspect of things. It’s me and a few other team members. We are trying to make sure there is enough developer coming in the ecosystem. Making sure the projects who have deployed have full potential and are getting that traction. The Nitro Wallet was an extension osmosis which allows users to kind of access a few applications. We have streamlined those things as well in general for the ecosystem. And I believe everyone is aware of that. And we have Lorenzo with us like just wanted to bring in Lorenzo. Are you with us? Lorenzo’s their user. I think I’ve just got connected again. Awesome. I’m glad to introduce you to Lorenzo. Lorenzo is one of the key members in the community. He’s building fantastic stuff when it comes to like informative blogs and like engaging with the community often. Lorenzo. Why don’t you go ahead and just introduce yourself? Hey all. I’m from the Nitro Wallet team. And those things for developing ecosystem basically. And yeah, all values of say we really admire and that’s what our focus is. But that’s something about Nitro Wallet. But anyway, just my full name me is Lorenzo. Involved with a bunch of other projects in the ecosystem. We are really looking forward to build more in the say ecosystem itself. So definitely with Arc like one of the things is like Arc is another partnership sort of which is coming with Nitro Wallet like for say. So kind of looking forward for that because the wallet infrastructure is important. And we are on that path right now effectively. So Jen. Kind of taking off from here. I would like if you, Arc could kind of introduce a bit about the journey and what you guys doing it for wallet the importance of wallet in general. Just give a brief background. Yeah. Thanks. Thanks for that. I’m happy to jump in. I’m doing great to be here. My name is Arc, Building Nitro Wallet bringing into light and yeah. Just kind of like make sure the ecosystem is thriving well. Like I’ve been developing I think so it goes back to like 2018, if I’m not wrong. Five, six years, right? Like properly how to build and structure your UI properly. And the exciting part is like we are recently partnering with Nitro Wallet. I think so when it comes to say the eco system the scaling with a proper wallet extension is very important. Like say has a lot of DeFI projects on boarded. Now we are integrating other partnerships to make the ecosystem thrive really well with Nitro Wallet. We recently launched like so few enhancements. And like the goal is to get the ecosystem growing effectively. And really excited building and working in say ecosystem. Great. Thank you Arc. Like, I believe the whole stage is filled up with people who are doing some fantastic stuff. And like from the conversation what we had so far. I’m super excited like the way filament could be a good way for all of you to kind of leverage this open dictionary to become more visible and have that decentralized front to showcase. So definitely a lot of excitement coming out today. So before that, just like I would love to start from each of you to share your whole experience because kind of like building on say itself and, yeah, exactly. First time you get presented and people should get to know about the infrastructure work that they’re doing in say. So like I want to start with Lorenzo. Like you have been in and around for a while now. What is your impression of say network so far? Like I think like many people are confused. There is a lot of action happening. There’s a lot of progress happening. How do you perceive the network? Yeah. Thanks for that question. I mean, the ecosystem itself, like it’s such a broad aspect to cover. We have heaps of projects popping in recently. And I have been seeing some good traction around like with the integration which has come recently. So definitely the community support has been one of the good things about say. Consolidating everyone at one place is the difficult aspect of things. We always have good conversation and like building that traction. But till we get to that level of maturity it really takes constant effort. We have seen a lot of integrations happening, even the TVL is increasing. More DeFI onboarding is like I think the last couple of months we make sure like a lot of projects comes. Get integrated properly. Have onboarding models for them. There’s also excitement from, the community. They always keep us involved like properly, I would say, like having that back and forth conversation it’s, very nice. Kind of getting these things going and I believe say has that potential. That would be my thought. Thanks a bunch Lorenzo. Like you summed it up really well. One of the things which I have seen and I’m also part of like MonksDAO. Speaking to the ecosystem and like ask her like you can probably answer this more appropriately. There is not much like say engagement. Like people, when first time you talk about it, maybe this perception could be made even better? And if it is not there, what could be some of the things that can be changed to get that narrative for say, because I think so right now, a lot of people are confused if there’s any defi happening on say, although there’s so many different projects have launched there. The TVL is growing significantly. It has grown ten x actually put out today itself since 1 January. So there’s a lot of happening. But what do you guys think is like, when you talk about your building and say, what’s the first impression? What people think about? And like, what could be done better? Or what would you change in respect of like saying, okay, people really know that this is an interesting venue to be in. Let’s start with Racer. Why don’t you go there? So I want to talk about, you know, what say is actually missing right now. So I think a good example of how a public change ecosystem work could be mental. So mental is layer two of Ethereum. What they’ve been actually building for the past year is to kind of like introducing a lot of, like, I would say like underlying assets to the chain. For example, they partner with mountain protocol and what’s the other one? I forgot the name of it, but it’s like RWA stablecoin project, right? So, so they kind of introduced these projects and have a very close partnership with them in terms of integrating USDV and USDM. So these are stable coins that with yield, specifically with real yield. And upon that, on the technical aspect, they also introduced the restaking model on mental. I think that’s before Eigen layer actually came out. So then they have me, which is another LST for Yves. And then recently I believe they introduced FPDC as well. So I think bitcoinfi is a big thing this year and they really caught up with the narrative. So I think with these, I was selling native assets with yield on mental. They provide a super friendly environment for all these underlying assets. On the public chain level, users can already get access to these yield bearing strategies. You know, they have like stable coins with Yule, real yield. And I think what say chain has been really closely focusing on as well is to, you know, to kind of enrich the LP pools since day one, we have USDC started IBL on the chain and then multiple projects following came up with native stable coins. But what we are missing, I think it’s a little bit more sort of like an ecosystem friendly assets like stable coins, like LSDs and also RWA projects, right? Hopefully, you know, with the chain projects team can actually get more of these. I will flow projects integrated on say that will be really making the ecosystem vibrant. I don’t quite agree when people say that say is only for sports betting markets. Because that’s not that’s basically not true because all of a sudden people are catching up with that narrative because it’s like, you know, easier kind consumer facing market. But eventually like say can actually support a lot of other applications. And I think, you know, with more integrations of the yield bearing native assets that will make the whole ecosystem more attractive. So Racer, I have a quick follow up on that. I mean, Adj what would you say, like the core development team should focus on in the coming two quarters? Like just to get this thing going? Because I think it’s very important to highlight some of the things at the protocol level and get that narrative right because having more native assets onboarded integrated properly would be a key driver. But there’s maybe some additional aspects from the development side of things. What do you think for the protocol and the dev team for the next two quarters that will make it more like stronger? Yeah. Two things. One is on the technical side. I think I’ve already highlighted them. It’s to kind of like make sure they work closely with different tracks in native protocol to have that close partnership and bringing those like, you know, yield bearing assets on the chain and second is on the BD aspect. So basically all the existing ecosystem participants on saying they have to make sure they work very closely with the core dev team and also the like native assets or like you know or underlying assets project, bring them to the protocol leverage these existing ecosystem participants to get more of these like flywheel effect for integrations. Right? For example, like Nitro wallet today, they have a bunch of users who kind of like onboarded USDC first or like bringing these markets first and then closely with the integration of those native assets in the ecosystem make it more attractive. So basically two things. One is technical aspect. Second is more on the ecosystem BD aspect. Yeah, that’s that’s some valuable insight. Appreciate that. Arc. Why don’t you go ahead and kind of just talking about like what do you guys think is like what else the team can mainly, you know, bring about the change? Yeah, I’m happy to add on a bit to what Racer was saying. So essentially, I think I probably covered mostly very well. So say right now we are focusing a lot on the LP pools because it’s easy for us to integrate initially. So I think the project also moved very fast. We saw like multiple exchanges being integrated. We have promise a junction lot of big big tickets coming into place and it’s definitely creating a sharp wave amongst the DeFI ecosystem for sure. And then we have OpenSea coming in right now in the next phase, which is the sports betting aspect of it. I think so we are rushing into a few things. So having infrastructure in place making sure we have LSTs, making sure we have stable coins. Those are aspects to be covered in the coming quarters. Kind of like streamline the whole things from like a beds perspective and like say ecosystem aspect. So definitely Racer covered it up well. On the BD front, yeah. Same happens just like making sure bending integrations come in place quickly, which easily flow from the team and the developer ecosystem in general for say because we have heaps of developers who are building on say. So yeah, definitely. I think Racer, you covered that well. Yeah. Thanks. That’s great. Sharing your thought and super helpful for everyone. I quickly moved to Jen. There’s there’s one more question which kind of still like first people think as an infrastructure our entire goal is to make sure the developers can build on say the best way possible. Tell some thoughts about like what do you think would be like most important things for the developers to see more attractiveness say essentially next few things would be important for them and Lorenzo also kind of like you know share your thought on that. What do you think about it? Sure. So from our perspective at Filament I think the most the like important aspect for the developers would be to offer more flexibility and power, right? I think we definitely have a great community but what we really missed out on initially is like having constant developer conversation. Effective community call for the development ecosystem is prime. And I think all developers also face in general that we are not able to do that. So systemic for us to kind of at least have that developer call, you know, all the participants taking active initiative addressing the core issues whatever bugs are being faced whatever integrations are lacking. Those effectively needs to come into play. So just for the developer ecosystem aspect. This is on the community and like protocol layer. God level of flexibility to offer. One more, very important thing is on the tech stack aspect. So it’s a little bit challenging for the developers to have understanding of the whole compository manner. There are excellent tools which are being newly integrated. So that level of things happen. We effectively make sure there is constant documentation improvement. There’s constant material finding. There are communities involved who will actually provide that insight for for the contractor adjustments for the ongoing changes for the protocol layer itself. Those are two of those like major things for the developers to get in and start. Yeah, that’s that sums up pretty well. Lorenzo what’s your thought for the developers? I mean, Jen quickly covered. Yeah, sure. I think, yeah, just touching on this part. I think definitely that level of documentation right? Things could be streamlined in a way where people have that native access to get the necessary details onboarding. Maybe the existing onboarding process could be improved. That’s where I think sometimes the lag happens for the community members, for the developers to bring the change easily. Right. And just one more question like we have. I mean and just creating like as thing, building the layers stacking up the protocol. So just quickly on, what interest you like mostly about developing Fimlement in general, as well as integration with say. Yeah. I think one of our key focus for Filament is always to make sure we have close partnership even for integrating. So when we say we want to be part of the ecosystem it means that we are kind of there with the whole team the core team and the partners and bring about those constant iterative updates, any output like basically any new thing that is being introduced. We closely align with them and bring about change like in general for protocol essentially. So that’s like the main focus. Another thing is like just improving the documentation aspect of it in general for us as well. Because for us onboarding means if you, if you are going to one repository and fetching out the list of thing, you should very clearly know the steps like extreme specific pathway that information sharing, right? That level is definitely important. So that’s the second thing from the Filament side. And Macro I have, I think Macro from your side like community aspect of it like what do you think like what needs to have, right? Like community needs to kind of like to bring more traction. How do they get involved more easily? Yeah, I think that’s, that’s definitely one important thing. Lorenzo. So I think for me, just talking to communities and the community aspect of things has been challenging because of like multiple things happening across different forums. Right? And so I believe like making consolidated conscious effort from the core team to bring the community in one place maybe identifies key community members, key developers and kind of spread the awareness. Make it more exciting for people to participate and get those community driven initiatives in place. So that definitely removes a lot of obstacles for the, for the members. And I think so slowly we are seeing those things in general. So we already see like last quarter itself, there has been so many community driven initiatives which popped up and also to recognize those key contributors. I think that having those recognition models are also very important. If we see so many integrations happening and we can recognize those people, bring them more into picture, have those knowledge sharing sessions more often where the people are actively contributing. Those things definitely drive people really well. It’s a very exciting time because say so we will grow faster. Absolutely. So Lorenzo and I believe like you covered like the highlight well right? What exactly do we need more from community as well as the developers and for developers as well like basically one thing just for the coming weeks what you see is exciting on the indo aspect of funding all of these new partnership integration. Just you know, quick. Yeah, we have a couple of new things coming up on our end for sure. So, I won’t specifically name them but definitely on the integration aspect, right? Like we already seeing like partnerships happening. So the new funding models and the capitalization happening in. The key thing is for me like we want to launch these new features starting the tech stack right on the native aspects of the chain and integrating those tightly with Nitro Wallet making sure we have the compos