Space Summary
The Twitter Space Staking & Liquid Staking: Unlocking New Opportunities On Sei hosted by SeiNetwork. Delve into the world of staking & liquid staking on Sei, a leading Layer 1 protocol revolutionizing DeFi. Learn about the benefits of staking, community engagement, security measures, and innovation driving the evolution of staking ecosystems. Explore how Sei's parallelized EVM enhances dApp performance and the flexibility of liquid staking. Whether you're a newcomer or an experienced crypto investor, understanding these key concepts is vital for maximizing opportunities in decentralized finance. Join the Sei community to unlock the full potential of staking in the DeFi landscape.
For more spaces, visit the DeFi page.
Space Statistics
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Questions
Q: What are the main benefits of staking for crypto investors?
A: Staking offers passive income, voting rights, and helps secure blockchain networks.
Q: How does Sei's parallelized EVM contribute to decentralized applications?
A: Parallelization enhances speed, scalability, and overall performance for dApps on Sei.
Q: What distinguishes liquid staking from traditional staking methods?
A: Liquid staking allows users to retain asset liquidity while earning staking rewards.
Q: How does community engagement impact the success of staking ecosystems?
A: Engaged communities contribute to network security, decentralization, and ecosystem growth.
Q: What security measures should investors consider when participating in staking?
A: Choose reputable platforms, use hardware wallets, and follow best security practices.
Q: What role does staking play in the DeFi landscape on Sei?
A: Staking is integral to DeFi by providing liquidity, governance participation, and yield opportunities.
Q: How can staking rewards be optimized for protocol sustainability?
A: Balancing reward levels, token distribution, and community incentives is key to sustaining staking protocols.
Q: What educational resources are available for newcomers interested in staking?
A: Platforms offer tutorials, guides, and community support to help users understand and engage in staking.
Q: Why is continuous innovation crucial in the development of staking mechanisms?
A: Innovation drives efficiency, security, and user experience improvements in staking protocols.
Q: What are the risks associated with liquid staking and how can they be mitigated?
A: Price volatility, smart contract vulnerabilities, and centralization risks can be addressed through audits and user due diligence.
Highlights
Time: 00:12:45
Introduction to Staking & Liquid Staking Exploring the basics and benefits of staking mechanisms on Sei.
Time: 00:25:18
Sei's Parallelized EVM Advantages Understanding how EVM parallelization enhances blockchain performance.
Time: 00:38:02
Community Engagement in Staking Discussing the role of community in staking ecosystems' success.
Time: 00:45:11
Liquid Staking Flexibility Examining how liquid staking offers liquidity and rewards simultaneously.
Time: 01:02:30
Security Measures in Staking Importance of security protocols in safeguarding staked assets.
Time: 01:15:44
Innovations Driving Staking Evolution Exploring the latest advancements and trends in staking mechanisms.
Time: 01:28:19
Optimizing Staking Rewards Strategies for maximizing rewards while ensuring ecosystem sustainability.
Time: 01:35:55
Educational Resources for Staking Guides and resources available for newcomers interested in staking.
Time: 01:48:03
Risk Mitigation in Liquid Staking Identifying risks and best practices to mitigate potential downsides.
Time: 01:55:29
Balancing Security and Rewards Maintaining a balance between security measures and attractive rewards for stakers.
Key Takeaways
- Staking and liquid staking offer new ways to earn passive income and participate in network governance.
- Sei's parallelized EVM enhances scalability and efficiency for decentralized applications.
- Understanding the differences between staking and liquid staking is crucial for crypto investors.
- Community engagement is vital for the growth and decentralization of the Sei ecosystem.
- Exploring new opportunities in DeFi through staking mechanisms on Sei can be lucrative.
- Incentivizing participation through staking rewards is a key strategy for protocol growth.
- Educating users on the benefits and risks of staking is essential for wider adoption.
- Liquid staking provides flexibility by allowing staked assets to remain liquid and tradable.
- Ensuring security measures in staking protocols is paramount to protect user funds.
- Continuous innovation in staking mechanisms is driving the evolution of the crypto ecosystem.
Behind the Mic
Introduction to the AMA
Sadeena. Sadeena. Hello, GM, and welcome back to a new Ama with Aritrom. Today we have an exciting topic, gaming. And yeah, we're going to be talking about GG Quest, your on chain gaming passport. And yeah, we have Dys and Rick that are joining us, so maybe we can start. Hi. Hi, Rick. Yeah, well, we would love to hear more about yourselves. Like, maybe we can have like, a series of introductions.
Team Introductions
So my name is Ana, community manager at the arbitrary foundation. And yeah, I know that Rick is behind the GG quest account. So, yeah, Rick, we would love to hear more about you. What's your role and. Yeah, yeah, amazing. Yeah. Thanks for having us. So, my name is Rick. I'm a co founder of GGQuest and I'm mostly busy, I would say, with the business side of things and strategy. So a bit about myself. I used to be a gamer my whole life. I have been a professional gamer in Counter Strike and Dota and in general always have been searching the newest games where I could compete in because competition was very easy when a game was launched.
Rick's Experience in Gaming
And so I was trying to win some tournaments in that way and then used to work for Sony for six years and in 2019 started crypto. I co founded a venture, Dao named Ronydao and then mostly was a dj in last cycle, I would say together with this and other people here in the public, I would say. And so, yeah, that's me in a nutshell, I would say. Go ahead. Yeah. Hey, guys, are you guys able to hear me? Yep. Okay, awesome. Yeah. Hey, I'm Dace. I'm also co founder of GGQuest and I lead product and operations here.
Dace's Background
And a little bit about my background by education. I'm a lawyer, but I've been working for early stage startups for the last eight years. And similar to Rick, I had my kind of full time crypto moment last cycle, did a bit of degenering, but was always attracted to building because that's what I did the last ten years. And yeah, we started, me and Rick started talking about gaming in 2022. And yeah, now we're here with GG Quest. It's been a great journey and thanks for having us here. Great. Yeah, we are super excited to have you, for sure.
Discussion on GG Quest
It's very exciting. What you've been building, like digiquest is I would love to hear more about it. Like, I've seen a lot of information about it in X, some other projects using it, but yall, maybe can you explain to the community today what is GgQuest? Yeah, so basically, GgQuest is a reputation protocol, but it is fueled by, I would say, a proof of gameplay. So our issue was with web three gaming is when were looking at it like two years ago, is that we as dj, were able to civil attack all these NFT means and make some good games.
Challenges in Web3 Gaming
And yeah, like were thinking, okay, if that happens also in a web three game, then like real players will not be very happy because it's also about fun. And so we have been thinking about solutions. How can we have a remedy for this kind of problems? And what we have come as a conclusion is that we should build a reputation protocol where people are basically rewarded for their own chain actions and not for their social activity actions. So we call it the proof of gameplay. And basically we create deep integration with the games that we work with.
Reputation Protocol and Integration
And one of them is Pirate Nation, where we have built a whole tutorial on top of them permissionlessly, like a few campaigns ago. And now we are looking into how can we fortify this reputation network. And so we are launching new primitives. And one of them is guilt. So the story around gilt is that basically I used to be very lonely crypto. I think crypto trading is a very. And it's also difficult to find your mates, I would say that are. That have the same passion as you and that want to go for it.
Building Connections through Guilds
And also to judge by the skill, are they even that good? Are they capable of going forward together with me? And so with guilds, basically, it's what you would think around guilds, it's basically a group chat on the platform. And the git admin, he can basically recruit player based on their actions. So based on their reputation, he can understand whether or not the user is quite good in certain games that they are interested in. And on the other side, we also integrate more features that will make the guild more rewarding for the users of being in it.
Enhancing User Experience in Guilds
So we are thinking about creating a guild bank as well, where basically players could come together and let's say, amass assets into the guild bank and then earn in a better way in some games. So we do a lot of things, I would say, but at the core it's a reputation protocol. Nice. Awesome. So, okay, yeah. So you build this reputation protocol through an on chain gaming passport. And also you now have some guilds where people can chat to each other.
Implications for Users
And then this reputation protocol has some, like, I don't know if I should say rewards or just recognition, but. Yeah, yeah. Okay. So, so, yeah. So I want to add in this basically for the user, why does it matter? So I was talking more about the game side, but for the user, why does it matter? To build up your reputation is because now as a user, the games, they understand that you're a real user, that you're playing these games, that you have assets within these games and the games are looking for real users, but they cannot find them quite easily on ship because our industry is plagued by all these bots and everyone trying to farm these airdrops, et cetera.
Airdrop Space and User Fairness
So by creating this network, we hope to make the airdrop space more fair again and dilute less the real users of those games. Awesome.
Understanding Community Engagement
Yeah, that makes sense. And yeah, the end for projects that you're going to see as well. Who are the people who are following the most of their game or the loyal community members that they have. Cool. So I know that there are other quest platforms and the classic steps to following quests are things like give a, like retweet this post, a follow x account. And yeah, I would like to know more about what is new with GG Quest. Like what are the type of steps that you can add into this quest or yeah, what can people can expect if they join a quest made by GGQuest.
Development of GGQuest
Yeah, I can hop on this answer, Rick. So when we first started building GGQuest in 2022, were looking at quote unquote, other questing platforms and we realized that most of them were focusing on social media tasks. And the problem was that we knew all of our buddies who owned five to 6000 Twitter accounts and discord accounts and emails with different VPN's. And we knew this whole thing was futile and it's going to get worse. So we made a conscious decision back then to stay away from the vanity metrics and we still haven't integrated any social media tasks yet. We've gotten a few requests, but if we add it's going to be very meaningful and it's going to not promote botting because as you notice, once an X account gets bought it gets deboosted and you actually never see it unless you bought it. Anyways.
Focus on On-Chain Games
I digress. Coming to the main point, the reason we were attracted to on-chain games at first was that it's very easy to build on top of it. This is why we started building. We built our first MVP six months ago for this on top of Pirate Nation. We called it pirate school. We ran it for two weeks and basically it went through each game loop of the game. So it goes through very deep actions. We also have tutorial videos to go with it. So it's a very cool experience for new players playing a game. And it also alleviated an issue that Pirate Nation had was that they don't have a proper onboarding flow and we just did it for them.
Quest Mechanics and Features
So, yeah, so that's kind of our focus is what are you doing inside the game or on-chain or inside an app? And we also are very careful with how weight each action. So if you look at our quests, if it has, you know, if you're getting a higher score from this quest, it's because the action requires either a high risk, you have to actually spend assets or money on it or requires a lot of time. So there's like a lot of deep focus there. And we're also working on third party plugins for quests. So you'll be able to use hooks and we'll be able to add swapping, minting and other features within our quest page. Yeah, that's a bit of an overview.
Data and Analytics in GGQuest
Fantastic. And, yeah, so those are the things that people can do for the quest. And as well, I'd like to know what is the data that Digiquest can give for the community or even for the gaming studios after all the community members are following each quest like, yeah, what's the data that you can see in GGQuest after all that information? Yeah, so basically you can see a lot of data immediately on the quest itself. You can see basically all the top hundred people. You can see everyone who's participated in the quest. So you get like a full breakdown. And we're planning on adding a new dashboard for games where they can actually also see the net worth of everyone's wallets and all the other details.
Achievements and Reputation System
Yeah, so, and also another thing is when you complete a quest, an achievement NFT is sent to your wallet when you complete it for the first time. And then this also helps us to basically create this modular on-chain reputation system where you can basically put together your own reputation system by putting together all the different achievements on your own. So that's also a use case that has been brought to us by their games who want to create their own reputation models using the quests and all the achievements that people have collected. Great.
Game Studio Integration Process
So you can see all this information in this dashboard and also to see the on-chain reputation of each community member that is participating in the quest or even in your game. So cool. What happens if there is a game studio that wants to create a quest with you? What should they do maybe should they reach out to you through the X account or what are the steps for them to follow and finally create a GG quest? Well, there's a few things, so at the moment I would say it's permissions. So indeed they would have to contact us and then we can then see if we can integrate them.
Integration and Long-Term Vision
It will depend on, I would say, which chain they are on or what kind of data they have available. But in general we can integrate all kind of games and with different kind of infrastructure. It just depends on the load of the integration on our side if we can do it or not as we are not that big team yet, I would say. But we have been able to integrate off-chain or on-chain data from different chains. So that's possible, I would say. And then later on what we will do is basically open up the protocol where then basically the games will be able to integrate us permissionlessly and then the community will be able to vote or have a governance around what kind of games do we want to be integrated?
Ready to Assist Integrations
What kind of weighting will they have within the reputation protocol? How would those quests within that game look like? So that's like for the longer term vision, I would say, of integrating games. Yeah, short term you should definitely either DM me, the GG quest account or Rick Crosschain and we will help you out. If you have a game with a lot of on-chain data, it's more work on our side to integrate. But if you have a lot off-chain data and API. Yeah, please slide in the DM's. We're happy to help you integrate.
Community Engagement and Updates
Awesome, great to know. Yeah, that's like the question that people always have, like how can they create a quest? So cool. Thank you for answering that one. And yeah, I would love to hear more about what else is coming for GG Quest. And also like if like how the community can stay in touch with the latest campaigns that you're organizing or how can they participate in general? Yeah, in terms of participation, I would say we have a discourse going that is pretty active and we try to help our community going forward.
GGQuest Vision and Opportunities
In a way for us, the vision also for GG Quest is to bring good opportunities towards our community. As we have been ourselves in the trenches, we try to help our community just make some money as well. So the games that we support, I would say in general is also games that we have a lot of conviction in that we, with our experience that could do well and is a good opportunity to get in or to work together with. So that's mainly it and yeah, just come and hang out, I would say in the discord and then.
Maintaining Community Connections
I'm sorry, I forgot your first part of the question, Anna. Yeah, no worries. Okay, super. So to get to know all the latest updates, let's activate notifications on discord. Fantastic. And yeah, my other question was about what else is coming for GG Quest or there is anything you have planned for the upcoming months that you want to share with the community? Rick, you should talk about Guild. It's been what a crazy week for us.
The Evolution of Guilds
Yeah, guild has been pretty amazing. So that's like a focus that we have today. I would say so, actually, we had this idea already at the start or the beginning of the company creating gigs, but we couldn't execute it like two years ago because we had to build the whole reputation network first and create the whole infrastructure. Because now the guilds, they are like, I would say an organism on their own. They can create their own quests soon. So we have a new code quest builder also. And so with this tool everyone is able basically to create a their own quests. And so we hope that the guilds will be able to monetize themselves without involving third parties. So it will be one to one from guild to game. They'll create their quest, we'll have an affiliate link into it and then the games can then reward the guilds that bring in traffic. And a guild could be anyone, basically. It could be a dao, it could be an alpha chat on Telegram or a QOL with the community.
The Importance of Accurate Data
So in this way we can do like true attribution, I would say, of users because there is a lot of fake metrics going on x and other platforms. And we hope to have this source of truth for games. We don't like come up with crazy numbers or we have 1 million active users or whatever. We really want to have like a valuable data set. A reason. Also, to give you also an example, we had a lot of inactive users within the guilds for this campaign and we just all kicked them. So, yeah, so we are not like hunting matrix or anything, but for us, like guilt is the most important and then this is what we have today. But then this. You can maybe talk about how you see like the vision of the guilds.
Feedback and Future Features
Yeah, yeah. I can. I think I can add quickly. Yeah, we have, I would say essays and essays of feedback from users. So like we can't 100% say how it's going to look in a few months, but I can go over the guild bank one more time. So the guild bank, it's still an early concept. We're planning on shipping it in two months, hopefully. And basically it'll give every guild a multi Sig wallet, and then the guild leader will be able to distribute the governance power of the guild through their own quests. So basically they're running their own playdor airdrop campaign so that they can give governance power of this guild bank. Now you can fill this guild bank on your own, or you can add microtransactions, which we're going to enable. So basically, as Rick said, every guild is going to be a microorganism, a game in its own, and like a whole experience, and we're going to be here to basically enable and power the whole thing.
Creating Shared Experiences
Well, I love it. I love that you have guilt because, yeah, it's always super fun to have more interactions with the people who are playing the games or having a group chat to talk together, so, yeah, that's super cool. Yeah, that's right. I mean, my best gaming experiences came from multiplayer experiences I had with my friends. I still have, like, memories of one night, me playing with my gaming buddy until five to 06:00 a.m. in the night, in the morning. I would say it's like more than 15 years ago. And then we had like almost two hour long dota game and we somehow managed to win like 1 second before the other team. And he just started screaming like hell. And then, and then his mother came to the room and then was thinking, what's going on? That was like the adrenaline we had and I was like on teamspeak with him, you know, and we had such moments and those moments are not to be found in crypto and I want to bring it back, you know, like have these multiplayer experiences within crypto because that's where the fun is coming.
The Importance of Proximity
Yeah, that's totally true. Like, I remember like, as well in the past when I was playing some games, it was like with my cousins, you know, like everyone, were with my family, were playing altogether and everyone was screaming and super exciting. But now, like, we Internet and everyone is in other places. Like, for sure you, you would like to have this proximity or feeling close to your, closer to your loved ones or your friends. So this is a great place to do that. And for sure it's super fun that you are playing and doing some. Something cool and then maybe your friends can start telling you what is. Cause how's your life going? Like, they can tell you something about their life. So you're more closer to them. So yeah, it's super cool. Like to have something else to do together.
Maintaining Engagement through Guilds
Yeah, actually it's crazy that my 35 year old brother in law still play. Joins his weekend world of Warcraft guild matches and he's been doing this for over a decade. So yeah, guilds. If you want retention in your games, you need guilds. Yeah, totally. I do. I like that one. This nice. Yeah, totally. I definitely enjoyed those ones more. The ones that you can talk with your friends or maybe you can create like a video chat or something. But if everything is included in the game, it's awesome. It's better experience for sure. And cool.
Further Information and Engagement
Well, Desrig, where can people learn more about GG Quest or. Yeah, I know, X and Discord. There's anything else that people can follow to get to know more? There is a new channel now, the guild chat. So go to the guild chat. We push updates there. Let's go. Yeah. You wanted to add something? Yeah, no, go to our X account in the link tree you'll find our testnet. We use privy so you can sign up through social and you can bundle your other gaming accounts for easy access. And then yeah, head to the guilds tab and apply to a few and I think you'll get approved by tomorrow morning. And then you can hop in, chat with people.
Assistance with Items
They'll help you out. I know Roguedao actually has a trading chat set up. So basically if you need like a ship or a sloop or if you're missing like a few items for, you know, crafting your sloop, they will totally help you out. So that's a good one. The golden company. The golden company. The golden company, yes. Actually, if you look at the frame of my PFP, that's like a golden company frame. And basically it came out of these special NFTs that we gave out for our first pirate school campaign back in February, March. So yeah, that's like an OG GG quest guild. Yeah, yeah. And yeah, they basically received. Received an NFT for finishing pirate school v two back in the days and the winners received that NFT and then they had a guilty, no discord.
Community and Support
token gated channel, let's say. so yeah, we still support them heavily, I would say. It's, the collection is called digiquest lore card. I haven't checked it in a while, but, and it's on Ethereum. And I want to add for everyone, like, this is something very cool now with reputation because now your history is coming with you forever. but it's. It's cross game. It will be cross chain hopefully as well. So yeah, it will be like a point where you. We will understand your gaming history but. And it. It will be able to be used for your future game experiences as well. So that's something I'm very excited about. It's like the future of on chain reputation into gaming. I believe like that you will be able to build a reputation profile today and then based on that profile, future games will create a personalized game experience based on that.
Dynamic Game Experiences
So imagine you will play like an rpg today and you're quite crazy. You're killing some NPC's maybe like in the second rpg like two years later that you're playing. Your reputation is still there and some NPC's will just run away from you because they don't want to get killed. That's just like a crazy example. But we don't know where the reputation is going. It just start and yeah, we're super excited about the opportunities that will lie ahead. Yeah, yeah, that's like one part we're very excited about is dynamic game experiences that basically you use reputation. And with I guess generative gaming becoming a category, you can actually create custom game experiences based on your previous gaming experience.
Future Outlook
And because we aggregate it from multiple sources, you'll be able to truly create like a truly customized game for you. I see this as like a few years out, but pretty excited for it. Yeah. Totally looking forward for that, to be honest. It's great what you're bringing to the community. And yeah, I'm going to activate notifications on x and yeah, you may be joining a guild. Let's. And yeah, to see when this is. This is happening. But yeah. Thank you. So. So yeah, Rick and I believe I don't have more questions for you today, but yeah. Wondering if there's something else that you would like to share with the community?
Community Engagement and Participation
Alpha, please. Cambria. Wait. Also pirate nation, of course, because you said too much. Mute. That was an alpha. Okay. That was an alpha. I guess. That'S it. We always give Alpha. So join our discord. Come and we'll spill sometimes when we are in good moods with the community. So yeah, thank you for the interview, for the conversation. I want to thank the community as well. Yeah. So everyone please continue doing the pirate nation quest until tomorrow and then we'll have a blast of a tournament afterwards.
Final Remarks
So yeah, feel free to stay in contact with us on discord. Yeah, for sure. Thank you very much. It was a pleasure to get to know you better and also get to know more about GG Quest, about what you're doing, your plans for the future, and about what you're building already. And, yeah, thank you, everyone who joined us today. And, yeah, looking forward to see more about what you guys are building. And, yeah, thank you for building Arbitram together and this ecosystem together. It's super cool to have you. Thank you, Anna. Thank you, everyone. Have a great day. Bye bye. Bye bye. Gigi. Gigi.
