Space Summary
The Twitter Space Terra Liquidity Alliance, Tech Updates & more hosted by WhiteWhaleDefi. The Terra Liquidity Alliance Space delved into the cutting-edge advancements within the Cosmos L1 Ecosystem, with a focus on driving innovation and collaboration in the DeFi sector. Discussions revolved around the importance of network interoperability, sustainable governance models, and community engagement for the growth and success of decentralized finance projects. Through insights into technological updates, liquidity provision strategies, and security measures, the space provided valuable perspectives on addressing challenges and embracing opportunities within the dynamic DeFi landscape.
For more spaces, visit the DeFi page.
Questions
Q: How does collaboration within the Terra Liquidity Alliance benefit DeFi?
A: Collaboration fosters innovation, liquidity, and diversification in DeFi solutions.
Q: What technological updates are shaping the Cosmos L1 Ecosystem?
A: Technology advancements such as network upgrades and protocol enhancements drive ecosystem growth.
Q: Why is network interoperability crucial for the DeFi space?
A: Interoperability allows seamless asset transfer and access to diverse DeFi platforms.
Q: What role does governance play in the sustainability of DeFi projects?
A: Effective governance ensures transparency, security, and community consensus in DeFi ecosystems.
Q: How does the Terra network create new possibilities for decentralized finance?
A: Terra introduces innovative solutions for stablecoins, payments, and cross-border transactions in DeFi.
Q: What are some innovative approaches to liquidity provision in DeFi?
A: Automated market makers, yield farming, and liquidity pools optimize liquidity provision in DeFi protocols.
Q: What are the main challenges faced by DeFi projects in terms of scalability?
A: Scalability hurdles include network congestion, high gas fees, and efficiency limitations in DeFi applications.
Q: How can DeFi protocols enhance security measures to protect users' assets?
A: Implementing robust security protocols, audits, and smart contract reviews bolster the safety of DeFi platforms.
Highlights
Time: 00:14:22
Terra Liquidity Alliance Collaboration Exploring the benefits of collaboration for DeFi advancement within the Terra ecosystem.
Time: 00:25:45
Cosmos L1 Technology Upgrades Insights into the latest technological updates and enhancements shaping the Cosmos L1 Ecosystem.
Time: 00:36:18
Governance Models in DeFi Projects Discussing the importance of governance structures for sustainability and transparency in DeFi initiatives.
Key Takeaways
- The importance of fostering collaboration within the Terra Liquidity Alliance for enhanced DeFi solutions.
- Updates on technology advancements that are shaping the Cosmos L1 Ecosystem.
- Insights into the evolving landscape of decentralized finance and its impact on the DeFi space.
- The significance of network interoperability in driving the growth of DeFi projects.
- Discussions on sustainable practices and governance models within the DeFi sector.
- Exploration of new opportunities for decentralized financial services through the Terra network.
- The role of community engagement in the success of DeFi initiatives.
- Innovative approaches to liquidity provision and token economics in the DeFi realm.
- Challenges and solutions for scalability and efficiency within the DeFi environment.
- Strategies for mitigating risks and ensuring security in DeFi protocols.
Behind the Mic
Introduction
Subscribe our channel it. A little muffled, but okay. GM sirs, how are we today? Welcome. Welcome, everybody. Another day in paradise, eh? All right. Okay.
Market Sentiment
Seems like the market's got a little bit of uplift over the last two days. Not too much to get excited, but a little bit of excitement there. Yeah, I guess we'll take what we can get at this point, right? I mean, Ponzi ninja, you happen to be active, you know, a lot in the ethereum ecosystem. What's your sentiment? Check over there. Overall, when it comes to markets and stuff, I mean, like every other ecosystem as well, I would say there are the perma bolts and then there are other people who are bashing ethereum all the time. And then there is, I don't know, somewhere in the middle. Yeah, so not, I would say, pretty neutral at the moment. Most people, I feel like are still on holiday as well.
Current Market Data
ETF flows for BTC and ETH, actually pretty low volumes compared at least to the last or to the beginning of the year. So I guess everything will pick back up in September or end of September. That is my guess that might coincide with the rate cuts from the Federal Reserve. I think everybody is just waiting for this after virtually every other major and relevant economy has already cut rates by a couple of vps. And you know, there's another lesson in there. You know the most hated coins they pump the most eth is quite hated right now. I know a couple of other coins that are quite hated. So let's see.
Technical Updates
And I think we can kick this off. We're five minutes in. All right, let's do it. 1 second. Here we go. Welcome to the weekly white world community. Call everybody. If you're new to our community, you can find all the critical information through the link tree in our Twitter profile, and we invite everybody to join our discord and participate in live discussion. Channel is called community calls. Without further ado, let's dive right into the market data. Whale price stands at 0.4 cents, roughly, which gives us a market capitalization of 2 million.
Yield Data
We have 60 followers less on Twitter, ten people less in our telegram, and 14 less in our discord. Regarding the yield data amp royalty bone royalty are clearly the number one space to get yield right now with 119% and 108%. Arbway is still respectable 54%. And then we have our restake wars going on. Sin still due to our spotlight campaign in spot number one with 2.04% in delegations and 2.24% in additional yield g ash with 0.088% in second place and you will earn an additional 5.5% yield. And then we have of year with 0.72% and three point to 9% additional yield. And then the most yielding satellite markets, not much changed there.
Token Yields
Let me just update the numbers here. Takes a while now, so seems like injective and Megaloo are still the highest yielding ones. Like over the last couple of weeks with injective at 18.99% and Megaloo at 1503. Osmosis also up there with 20%. Yeah, and before I hand it over to Centcom, hash righttheway, retweet the spaces guys that everybody know that we are in here. And then I think Centcom can take it over with the technical updates.
Upgrade Announcements
Of course. Thank you very much. This week we got another surprise upgrade for everybody. It's megaloo version four 2.3. That upgrade was not planned. We've kept everything up to date, but there was a bug report in Cosmoasm from Confio. Confio is the developer of Cosmoasm, and they released an update which we promptly integrated into the chain, and we made a proposal so you and the validators can vote on it and eventually, hopefully have it pass and get on the safe side again then.
Development Collaborations
We've been working on injective quite a lot lately. We've been helping the injective team to develop a, you know, they have this burn auction module, and we've been helping them over the last month together with PFC on making that, you know, allowing people to pool assets into the auctions. So it's not only a Wales game, but community members can pool together and trying to win the auctions that way. So we've been helping injective a lot there over the last month, and that is going into audit soon.
Liquidity Consolidation
So there will be some surprises coming to injective soon. Then we've finished consolidation of LP's. The foundation had various LP positions. We consolidated them mostly into the whale bitcoin and whale USDC pool. So you should find even at those prices, substantial liquidity there to get in or out of the ecosystem. And the reason why we consolidated the liquidity into those pools is simply that ecosystem tokens like Ophir, Rec, shark and others, they require you to be able to get into the whale ecosystem and out of the whale ecosystem.
Core Pools
And the best way to do this is via USDC or bitcoin on megaloo. So we think those two pools are our core pools. Core pools for the ecosystem. So we boosted them. Talking about liquidity, there is a big thing coming out, which is the Terra alliance. The Terra Liquidity alliance to be precise, next week. And I think, Sebastian, we can talk about that a little bit. Besides that. I think we covered the technical upgrades.
Ophir's Developments
Yeah. Excuse me. I guess we could go over to the. To the liquidity alliance. You know, I'm just trying to think here what else I want touch on today. I mean, there's another little thing that I forgot. Sorry. Sure. So the devs at Ophir. At Ophir Dow, they finished the last iteration of the redeemable treasury contracts. And I can't speak for them, but things are looking good. We looked at the contract, they look solid. And I believe we should see this on mainnet rather sooner than later.
Community Updates
And regarding talking points, liquidity wars, big thing, I think JG will have a couple of exciting things to share about sin and the galactic syndicate and then we just go from there. Yeah. Yeah, I was gonna touch on Ophir today. I appreciate you bringing that up, Ophir. Actually, you know, one, it's not dead. You know, it's been quietly building, quietly accumulating assets. Kind of a stealth. We, you know, we kind of went into stealth mode, but we're about to drop some pretty exciting stuff and pretty innovative stuff, so be on the lookout for that.
Community Contributions
And it's. That one's coming in hot. That one's coming in hot. So. So yeah, there's that. We can go to, we can go to liquidity alliance, but maybe we punted to JG first because I know people are excited to get updates from him for sin, for. For backbone labs. JG, do you want to. Do you want to jump in here? Yeah. Hi, everybody. Good morning.
Personal Insights
Morning, sir. Good morning. Good morning. I was. You messaged me. I don't. I don't know what I was doing right now. I was. I was looking for something in my closet and I. You're like, you coming? I was like, holy shit. Yeah, I'm coming right now. What have you been looking for in your closet, sir? Oh, the truth. The truth. Okay. Truth be told. Fucking sometimes I grow weed and I was. I have this. I have grow lights and I was pulling out these lights.
Community Engagement
I was pulling out these lights because my boy wants. Anyways, it doesn't even matter. It doesn't even matter, right? Just, you know me, I'm always on some crazy tangent doing. Getting lost in some crazy thing. And my wife, like, always be like, what are you doing? Anyway, anyway, it doesn't matter. It doesn't matter, you know, glad. Glad you were. Glad you could make it, sir. We're glad you made it, you know. Well, apparently you're a good farmer, you know, that's a skill that translates good crypto.
Preparations for Challenges
Well, you know, I'm always preparing for doomsday, I think, you know, having a seed bank is really important. Just what kind of seed bank are we talking about anyway? Please stop and just go through the galactic syndicate. Okay? So let's just, like, get into updates, right? So let's just lay the cards on the table. Injective is not a pure IBC compatible chain. That's the truth. That's why we've seen other projects do raises and then, like, return the money for us.
Project Challenges
That's not the case. We've just been hammering away and, like, solving issues that, like, we don't have to deal with on these other. On whale or on terra or on osmosis, on a lot of these chains, but it's not a big deal. It just is what it is, and it's just taking longer. And I'm not even gonna lie. Like, other parts of our project are getting better with this delay, so we're maximizing it. It's not like anybody at backbone has any other job but to make a this shit work.
Optimism for Future
Like, nobody's moonlighting here and somebody else, right? So. So this is coming. I don't want to. I don't want to give dates. You know, I'm really hopeful that it's. It's like, I'm really hopeful. Like, I've been hammering with Thomas every single day on these certain components and with PFC and, like, he's been helping us work out this last part with this. This fucking candy machine. You know what it is?
Technical Discussions
We've had to set up more infrastructure between the two chains because we're leveraging secret networks. So one of the things that were encountering was that it was because everything's on chain and we're not doing an off chain solution. And using these hooks to get the IBC packet forwarding back, sometimes it takes, like, sometimes it could take, like, up to ten minutes. And that's because, from what I understand, and again, I'm not the technical person is, there's just not enough connections between secret and injective yet.
User Experience Improvement
And so we've been setting that up, and we're just trying to make it for a better user experience because, I don't know, Centcom might be able to speak on these IBC packets better than I can. He's more technical minded. I'm just kind of parroting what I'm being told from the people that are building this for us. But we're just trying to make a better user experience. And this has been like the technical difficulty between these new hooks on injective and secret network and having these relayers and these operators having enough connections to make it work good.
Infrastructure Investments
So we've been having to put up our own connections and I mean, this is neither here nor there. I mean, if you know the journey that backbone's been on, like this is coming. I'm not gonna lie to you guys, this has been a pain in the ass to me. We have other things on the agenda that are waiting because this needs to be seen to first. Right? So it's not, I'm telling you, it's not from any lack of me. Cracking the whip. Fuck. Murphy's law is something else, I'll tell you that.
Final Thoughts
But so look, it's coming. I don't know what else to say. I don't know what to say. I don't want to say anything. We're just going to turn it on when we turn it on and it's going to be really soon. Like, if you guys believe in, we know, solving this, you know, this capital inefficiency in the NFT market space and having NFT communities manage these, these projects and these products, then, I mean, like, nothing's changed.
Looking Ahead
Like we're on, we're just a little delayed. But, you know, nothing's, nothing's for us, nothing's changed. It's just another day, maybe like a week's difference. I don't know. I don't even know. I don't know. It's like every time I think we're close and we do a push, it's like then I, something else comes up that we're having to address and I'm like, damn, didn't we just fix that? Yeah, go ahead.
Community Engagement Options
I just want to remind everybody that while, you know, good things just take time. Your sin does not have to sit idle. You can stake it on Megaloo, send it over, stake it there, no unlocks. Rewards are paid out instant on restake down. So that's a good ra, at least a good option to park your sin while you're waiting for the mint to commence.
Staking Opportunities
Yeah, I just know, like every time so far I've been like, you know, because I'm not a technical builder. Every time, like, I think that we're, like, close to doing something, some other shit comes up. So I feel like the best course of action is just to turn it on. It's already there. The sin is there. The only one way to get it. You have your. This art is coming. All this stuff is coming. We're really close.
Anticipation for Launch
I know we're close. Like, I'm looking at this. We've pushed it. We've pushed this to test branch. So, you know, our. The test group is going to be able to start hammering this thing and. Yeah, so look, here's another thing. If you want to. If you want to get access, if you want to access the test group for the entire site upgrade, and we will be running like a test, maybe even a test mint on the new machine, on the new canning machine, we need help.
Call for Community Support
I'm not going to lie. It would be really helpful if anybody wants to participate in that, please just join. Maybe join the backbone telegram or even DM. You can even dm the twitter if you want. And I'll give you guys an invite of. That's definitely, you know, we need to battle test this a little bit. A little help would in that help would help us tremendously. Tremendously.
Exciting Times Ahead
Yeah. So, I mean, my comment, you know, we launched on injective, right? Over a year ago now. We deployed our dex there. And, yeah, it's, you know, injective isn't just a plain vanilla IBC chain, right. It's. It's a little bit different. So that opens up all these doors and makes things more complicated and, you know, it just.
Complexity in Development
It just gets a little messy. So. I understand. I understand that. Here's what I'll say about JG, right. He figures out a way to get things. He gets it done right. Things might, like, things might go wrong. Things might. There might be hiccups, there might be bumps, right? But he pushes through and he gets it done right. And anybody who's been around here, who's been around this community, who's been around our ecosystem system for any amount of time, knows that the guy's just got grit just like all of us, and he powers through and he pushes through.
Community Resilience
So I wouldn't worry about any of that. They will. They will figure it out. They will get it there. To be honest with you, I think that, you know, it's. It's. I don't. I don't know that delaying the launch is hurting that much just because the market has been soft. You know, it's like it just has.
Market Timing
Right. So, you know, it's unfortunate, but during these lull times, during these kind of ghost, you know, ghost seasons in the market, right, where it's just winter and dry and, you know, no activity, no volumes, you don't really want to launch too much stuff, right. You know, and especially summer and end of summer, a lot of people are still away, you know, after Labor Day, people, you know, people with money come back to work, right.
Future Launch Goals
And that's kind of how it works, you know, and start deploying capital and things like that. So, you know, I, I don't know that, like, it may be serendipitous, maybe, but in any case, you know, in any case, they will push through and they will get it done and, and, yeah, we'll get it. I know, you know, I'm excited.
Looking Forward to Launch
I'm excited about the syndicate launch. I think it's going to be really good. You know, we've, people have their sin tokens. They're holding them. You know, we'll get it there. Right. Go ahead, JG. Go ahead, sir.
Appreciation
I really, you know, first of all, thank you. Thank you for your kind words and, you know, in the belief. But, you know, personally, backbone and even whale. Like, I always feel that we kind of always march to our own beat. We do our own thing. Like, I don't really care about what these boring markets do.
Commitment to Mission
We're doing other stuff together. I really believe that. That's why, like, you know, I'm frustrated as fuck. This, this thing that hasn't been minted, like two weeks ago. I'm not even gonna lie. Like, I'm frustrated as a motherfucker. That's, that's what's up. I bitch and moan about it all the time. Fucking, you know, poor Thomas. That's all I gotta say is poor Thomas.
A Mission Driven Approach
Right. But, but at the end of the day, you know, for me personally, I can always be for me, like, what we're doing, backbone, is, you know, we're trying to, we really have a mission. Like, I feel like I'm on a mission. Backbone's on a mission to solve this capital inefficiency. Right? That's, that's our mission. And white whale and megaloo is the vehicle that allows us to do this multi chain thing because, you know, soul is going to live here and that will be, you know, how we coalesce and unify our NFT five project.
Future Vision
That's how the vision is for backbone, right? So I don't give a fuck what the market's doing because at the end of the day, these communities and the chains that we're partnering with, I think these are winning chains. So whether the chain is not ripping right now or whatever it is, you know, after an injective is a great next move. And archway, these guys have great energy with the archies and rise a great AI play, right?
Building for Future Growth
Like we're setting up these things that when the bull market hits that, it's like, oh, this NFT fi paradigm, multi chain building thesis that we've all kind of done together from the smaller teams because it's like, where do you stand? And I hate, I don't want to be so divisive because I really think that crypto is big enough for a lot of projects, a lot of teams, but like you look at these vc teams in the cosmos, cartel teams, you know, I don't want to mark anybody out too hard, but there's that whole group and like, yeah, like you get these guys.
Navigating Challenges
Some of these users chase like this like shiny shit that they just keep dumping on us and keep doing the same bullshit and like keep just like working like the new user or you got like the remnant of like what came from Terra, right?
The Differentiation of Cosmos Builders
And I hate to say it like this, but like I look around at the, you know, the cosmos builders who are really doing shit. And it's the remnant from Tara who I feel are doing shit different. You know, Coogee was doing stuff different, white whales doing stuff different. I mean, you know, prison is about to come to the table. I don't really know where they stand. I'd like to see where the chips fall with them. But there's a lot of projects that are our terror, that are terror projects that are, that these are the interesting ones to me because to, you know, I don't feel that they're dumping on their communities. I don't feel that they're fucking, I feel that they're, that they maintain the right ethos. I don't want the message to get lost in this cycle because that's what kind of what has occurred. Like there's a bunch of memes, a bunch of blah, blah. What the fuck is a meme gonna do for me in fucking five years? Like, I mean, they're fun as shit if you're a gambling addict, and that's cool. But like, I really want to store value.
Creating a Decentralized Economy
I really want to create a decentralized economy. And then from that decentralized economy, I want to have some decentralized money, and I want to get off this fucking Mary go round. Like, I don't want people to lose what the fucking mission is. I don't know. Maybe that's not your mission, but my mission. My mission is to have a different outcome in my. In the way I, you know, I live life and my relationship to money and, like, what's valuable? Like, what the fuck is value? Like, this is something that needs to, you know, be redefined, I think. Anyway, I'm soapboxing again. My bad. But you know what I'm saying? Like, fuck the market. We're doing interesting stuff. You look at the users in the cosmos. Ghost town, everybody else, ghost town. It's all fucking bots and bullshit, right? Like, where are the users? I'll tell you where they are. They're fucking. They follow backbone.
Community Engagement and User Education
They follow white whale. They're doing stuff. They're doing the activities that we're participating in. We're setting up activities for people to learn and partake in and come and communities to welcome them and safe places to educate. I. Because, you know, there's how many billions of people in the world who are about to get a wake up call when their government is fucking really butt fucks them with the inflation, you know, I pardon my french. Anyway, good morning. Good morning. JG, how many coffees? How many coffees? Answer the question. I think like five or six, maybe five or six. There's nothing like a strong JG rant, right, to get us all cranked up, just to get everybody cranked up. There's nothing. There's nothing quite like it, bro. I mean, we got to get fired up because, like, this is a thing, like, you know, people talk about, like, what are you fired up for in life? Like, are you fired up to have a mundane check in nine to five, fucking, you know, have four kids and work until you're dead and maybe pass on some shit that you get taxed on your whole life?
The Push for Innovation and Collaboration
That sounds like a whack plan. I don't want to sign up for that one. Or are you fired up about, like, teaching people about, like, hey, if we work together and, like, wag me this shit, we really can become the big guy. We really can fucking do the short squeeze. We really can fucking do the game stop. We really can be, you know, we can fucking make a difference in crypto, like, because it's such a unifier, right? All of a sudden, like, all these little fucking farmers who all want to have a farmer token can all, like, rally together and like, have some idea about being, you know what I mean? I don't know, but, like, you see, I'm saying, like, I don't want to fucking be live in this world where we're isolated and, like, just monetary slaves. Like, fuck that. That sounds so whack. It's coming down the pipeline. These PCB sees are coming. They're coming. So if we don't educate and set up these networks are going to be the value infrastructure, and it's going to be the lifelines of commerce when fucking, you know, governments are tyrannical or a fucking irresponsible, like, it's just silly to just to turn a blind eye and think, like, oh, well, we'll just let the government take care of that.
Importance of Market Understanding and Value
Nope. You know what I mean? Check, please. So I don't know. I don't want people to lose sight of what crypto is about. Yeah. Meme coins are great. Nfts are great. But for us, nfts are just a gateway of education to the next layer, like, of how to learn and to create value. You know what I mean? And what you do in a community, like, it's just the next layer in the cake. There's just so much more that has to come out still. Anyway. Yeah. Let me get another coffee. All right. Are you done or do you need more? Well. I might say something else crazy. All right, I got some comments. I got some comments here on your rant. First of all, I think it's important that you pointed out that this, you know, the stuff that we're doing, and case in point, your nft mint, right, is innovative, right? It's innovative token. A tokenized nft mint, right? Burn, where you burn the tokens.
Innovative Approaches to Token Design
This is a new, it's a new model. It's been done once, right? But it's a new thing. So with that, there's always kind of a learning curve and there's always, you know, just kinks to, you know, to get out and, you know, you just kind of, you just work. It's not, it's not a copy pasta, right? It's an innovative thing. So, and if you've been riding with us, if you've been riding a whale for long enough, you know that, like, we're, we're pushing the envelope, we're pushing the boundaries. We're trying new things, and with that comes kind of this technical debt and this, you know, there's hiccups. There's. It's clunky at first, right before it gets smooth. It doesn't just drop, and it's perfect. Right. That's. That's just not how it works when you're pushing the boundaries like that. So I think that's one fair point. And you pointed to kind of the terra legacy builders, right? And I think that's interesting.
The Nature of Legacy Builders
I think it's because Terra legacy builders are still very much. I mean, they're a different animal, right? And you can see it. You can see they still kind of leave their mark all over the place. It's us, it's backbone, it's heiresse. It's Kujira, right? You know, and prism, you know, just. Just to name a few. And, you know, there's. You see this kind of unique flavor, I guess, with the terrorist terra legacy builders, one, we're crazy risk takers. That's one. You know, terra attracted crazy risk takers, which are usually. Usually those are the most interesting builders and innovative builders, because they're not afraid, right. They're not afraid to push the envelope and take the risk. you know, but also, it's like there's. It's. It's just like we're trying to do something new. We're trying to, you know, just.
Experimentation and Innovation
Just experimenting. I guess that's. That's really what it is. So, you know, I think you see this kind of cohort at the bleeding edge, right? At the bleeding edge of. Of innovation, of. Of the development, right? And it's fun out there. It's also very messy, you know, but. And it's. It's also where. Where the next big thing could. Could. Could lie and could be found, right? So. So that's one comment, another thing I'll say. And you mentioned this, too. You know, we've. We've tried very hard. I've tried very hard to build, to design a token, and Centcom has as well. That doesn't frickin round trip every cycle, right? And go up in the bull market and go and fully retrace when liquidity dries up.
Challenges in Tokenomics
We've tried very. Unfortunately, we haven't gotten there yet. I mean, just to be honest, right? Our chart looks very much like every other chart in cosmos. In some cases worse. You know, it's. We haven't kind of broken free of this, but we. We're trying to. We're trying to create actual substance in our. In our tokenomics, in our design, where you can take whale, you can. You can restake it, you can alliance stake it, you can earn crazy yield, you know, seven different ways from Sunday. Just listen to, you know, what ninja said. And you know, the different yields that our ecosystem is doing, and these are these are sustainable. They're not just incentives.
Sustainable Yield and Improving Distribution
They're not just, they don't just last a month. They're not diluted when somebody puts a million whale in. Right. you know, between our alliance stuff, our restaking stuff and restake Dao and our Dex design and restaking to our dexs and leveraging our lsts, we're trying very hard to build an actual, you know, a utility token. That's the utility token of an ecosystem where there's substance, where there's yield, where it's all driving value to whale token, right? We're trying. That's all I can say. I think it's for us, it's just been very difficult to get from zero to one, to get from, to get our footing and bearings with some kind of adoption and value accrual and kind of catch that, start the engines right?
Building a Unified Ecosystem
Start that. Start that flywheel engine going right. If we see, you know, if whale goes up right, all of the restake tokens on restaked out, all of those yields go up, right? All of them. Then all these economies, all of these tokens and the, you know, the syndicate and shitmos and, you know, Ofirdao and Guppy, right, Ash? Right? Like all of these, all of the yields go up on all of them. It's the fuel, right? It's the fuel for this ecosystem that we've built. We just need to get from zero to one. That's really what it is. But it's not for lack of trying. We are intentional about giving substance to our token and our ecosystem. You know, I want to just point out that, that every chain right now that we're seeing that is doing positive numbers for the most part.
The Reality of VC Influence
These are like, these are VC chains. Let's be honest. I don't believe that there's really that many chains that are just community chains that are projects that are doing, are really doing. And they got sandbagged, they got hard pressed, put into a corner, right. There's definitely, it is an uphill battle, is what I'm trying to say. This is an uphill battle. But anything worth having is hard. It's not easy, right. If you're trying to build something outside, like what's norm or like, outside of, like, trying to break them. Trying to break. Look, there's definitely, there's some shit in the cosmos as you build here. You. And you get to know that it's a lot smaller than, you know.
Community and Advocacy
I'm trying to fucking say this now nicely. It's a lot smaller than you realize when, you know, when you're first just participating on as a user, right? Like, as you start to build, there's just, man, it's like game of thrones in this motherfucker. And the truth of the matter is that that's why it's really important that, that we're loud on these socials, right? Like we have to be the loudest. Even though we might be the smallest chain, we have to be the loudest, most phenomenal people, right? Because that's what's going to get usage. Like, at the end of the day if we're not being loud and like, and understanding. Like, look, if you own whale tokens and you believe, like, okay, you know, right now it's.
Investment Opportunities and Market Strategy
.004 that's pretty much like the best entry anybody can get. That's a better entry than any founder ever got. That's a better entry than any fucking vc investor ever got, right? Right. Now if you believe in backbone and what white whale and Megaloo is doing and what Eris is participating in, rack and shark, right? And all these teams that are coming and, you know, and GMC's coming to participate with us and, you know, scaling, we have great communities. We have great communities and the intersection is going to be megaloo, right? Like that's the intersection token. And why is that? The intersection tokens? The intersection token? Because nobody, there's nobody who bought in earlier who can dump on you, right? That's the truth.
Understanding Market Dynamics
There's nobody who can fucking buy in earlier. If you take a $100 right now, like, nobody, if it goes lower, it's just because people might be farming. But why are people farming? Is because we're not getting enough new users. Why are we not getting enough new users? Because we're not telling people what we're doing here. Again, I can only issue backbone. What we're doing is we're trying to solve the capital inefficiency of the NFT market space. And by solving that inefficiency, we get to unlock value by being smart with the money we currently have and then we get to create a store of value based on these communities. I think the skeleton punk community is a valuable community to be in. I think the megaloo whales community is a valuable community to be in. Right? So when the bull market and it's mad scientist and, you know, syndicate that's coming to market and when.
Preparing for Market Shifts
And so we want these communities in place now before the bull market turns. Like, you know how you're saying that sometimes it's not a good market to launch in? I want to launch it right now in these shit markets because I want these communities established so when the fucking rush comes in that we're, like, set up, you know, we're like, hey, you know, we got you, dude. Like, we're not only do we got you, but we got all the information. We got yield set up, we got fun activities. Like, we're ready. We've been doing this for years, right? So. So, yeah, I mean, I guess there's just a lot of ways to try to take this in, but, you know, we got. If you buy whale tokens or you believe in crypto, you got to be loud about the projects that you believe in.
Advocacy in Cryptocurrency
You got to share the message that your projects are trying to address and fucking stop investing too much money in projects that don't have, like, a real problem that they're solving. That's. That's the other thing. Like, yeah, memes are great, but, like, if you fucking put, you know, $15,000 in grimace token because the McDonald's fucking tweet, I don't got no sympathy for you know, I mean, I don't know. Yeah, no, and listen, I think you make another good point that I'll piggyback on, you know, quietly. Our distribution is. Is slowly but surely getting pretty. Pretty freaking good, you know, and that's what these. These droughts will do. Right. And unfortunate. Some liquidations of some big holders, me being one of them, right.
Community Building and Token Distribution
Team. Team distribution. Team allocation. Distribution ends in February. It's almost. It's. It's like, over 75%, right vested. Our VC's are gone. They're all gone. They all dumped. Right? Like, it's this. We are very close to just being a retail held token, you know, with. You're right, with nobody left to dump, right. So that our distribution is, you know, has improved, right. Especially over the last couple months, and. And is, I think, is getting pretty good, to be honest with you. I do. I don't know, Senkam, if you have. A thought on that, not necessarily on the distribution. I think the t assets right now, they help.
Yield Opportunities in the Ecosystem
We have so many opportunities for yield in the ecosystem that those people who want to get more, they get a chance to farm it. They can stake it on alliance, they can bond it. There are so many places to put your whale, and many of them are yielding three digit aprs, and they have been doing so for a year. Maybe a little bit less, maybe a little bit more. It is indeed, I think, a good opportunity for everybody who wants to get more whale to, you know, do so without, you know, just by farming. And I want to comment on something that JG said. You know, that, you know, governments around the world are getting more autothorean, and, you know, we've seen this, you know, everybody in here has seen this probably once or twice in their lifetime, maybe even experience it, depending on where you are.
The Role of Community in a Changing World
And I just want to reiterate how important it is to really built for the users, for the people. It kind of struck, or it often strikes me as weird that people believe that the government has. The purpose of the government is to serve the people. That's the whole idea that people bring forward ways to coordinate and ways to work together, and that just resulted in governments forming everywhere. Now, with crypto, we have really the chance to take back some of the power we gave away into our own hands with these peer to peer blockchain based systems. And at the same time, while we are discovering this still new technology, remember, the Internet took, I think, 30 years before it got escape velocity.
Empowerment through Cryptocurrency
So we're still in this new technology that's really giving power back to us, to do financial transactions, to have our savings, have our own money in our own hands, in this amazing format that's portable, that's divisible, that's instantly transferable, and we can build tools around that. I think that's just a fantastic turn of events for us people. So I'm fully on board with what JG said, that we need to build our future here. We have the chance to build it, so we're building it. And on that, Sebastian also touched on liquidations. They suck, no doubt. I don't think there's anybody in this space here who hasn't got liquidated or sat there. He went to sleep thinking he got a good entry, wakes up with an email, or if you're on a decentralized exchange, no email that you got liquidated.
The Challenge of Liquidations
I think most, if not everybody has. That just sucks, which is why I'm really excited to share that. There's a new protocol coming that I believe will bring utility we haven't seen before yet. We have great opportunities to farm yield, but we have no right now not a lot of good ways to leverage. And with eura protocol coming this year, everybody in this ecosystem will have the opportunity to soft leverage their assets in a novel lending and borrowing market that has no interest and no liquidations, where the loans are self repaying. And I think this kind of lending market, combined with the high yield we have across multiple sources, not only on whale, but also on other assets, will simply unlock actual financial utility for everybody.
Future Yield Access
Imagine your car breaks down. You don't have to tap into your savings. You can just access your future yield in a self repaying loan. And since there's no interest and you can't get liquidated, you don't have to worry about it anymore. So I'm really excited to help bring this product to life, and I'm sure we will see a couple of very interesting use cases coming out of it.
Alliance Contract Discussion
All right, I. Shall we pivot over to the alliance contract? To Terra alliance contracts. That's a good one. All right. Yeah, so I know we talked about it at length last week. We've, you know, since we've made some more kind of moves to position ourselves to take advantage of it. I don't know if there's any updates. I don't know, send if you have any updates on the development side over there or what? Or thoughts.
Preparing for Voting
Of course. Of course. So if you look at the proposal that's currently on chain, and it's going to pass, most likely next Tuesday, there's a list of pools, and we have just created all of these pools on our decks. From Luna injective to Luna east. We have them all. We are in the process of seeding them with some money to set the ratio correct, and we're submitting them to the Phoenix directive so that they get integrated and listed in this new lines for us, for you guys to be able to vote on them to direct the Luna incentives. So at this point, we've pretty much done everything we can in preparation.
Community Involvement and Voting Strategy
We got our Luna already as a foundation. I hope you guys, as community members have as well. We have our strategy. We have all the pools created. They're being seeded. We've submitted them. We have a strategy on how to vote. We know our initial voting distribution. We know how much we're going to lock and for what duration. All our ducks are in a row. We've talked to many partners of us, like backbone apps, or JG, specifically on a joint strategy, so that we can come out of this together and stronger, and it's looking good.
Alliance and Community Strength
The main question really is how much participation will there be in general, how many players will join the game? Thats always a little bit of uncertainty. You never know whos going to show up with a million Luna in his pockets. But right now I think we have quite the strong alliance here between, with backbone laps, with Eris, with Linda, white whale. I think weve got a good pack of builders here and community members that will vote accordingly. So I'd be surprised to see anybody outbidding us, you know, remains to be seen.
Voting Plans and Opportunities
But I think all our ducks are in a row. We did everything we can and as soon as it goes live, we'll go in hard. We will, you know, vote for all the different tokens. Every token gets a little bit of our vote. So whatever token you have and want to farm, you'll get the opportunity to farm it on our decks. Most of our votes will obviously go to the lunar whale pool because that just makes most sense for us.
Alternative Voting Strategies
JG might vote differently, but what we all could agree on is that we will vote on the white whale tax. So if JG wants, you know, doesn't want to vote for whale, Luna and instead wants to go for Luna, be Luna. Hey, I got one question. What are the other options? Are you telling me that, you know, I can lock my Luna for years and vote for astro port pools? Is that what you're telling me?
Alliance Rewards and Opportunities
Well, you can go for Eurobix. I heard they have any, I mean, what are we even talking about? Who even operates that thing? I heard they're quite active. Right? I mean, I don't want to do anybody. Here's the deal. Let's just be really upfront with the community. If you're listening now, there is a massive play on the table. There is. I don't know how much. What are the rewards? Let's just be, let's be really clear.
Potential Gains from Alliance
Is it like $6 million digi? It's, it's this, like. Okay, so alliance itself has been tremendous opportunity. Nobody took it. We had carbon take it and I haven't heard anything of carbon yet. Besides them farming some Luna, which, by the way, I believe a lot of Luna people have bought carbon just to farm it. So I'm not seeing any there anything there. If I'm incorrect, please correct me.
Market Developments and Potential
Besides that, nobody joined the game when it was literally free money on the table. But, but more than that. More than that right now. What's happening right now, the new model that's occurring with the LP's and the Dexs like white whale has always been loyal to the terror community, we have, you know, one of the longest standing Dex projects in the cosmos. You know, we have one of the strongest communities and we are very closely related to terror.
Infrastructure Success and Synergies
You know, we get the volume, we get the TVL, we get the buybacks, we get the people using our infrastructure. That's all perfect. But also with other teams, Lindao, they're directly, if whale does well, roar token does well, as does also well because they're part of restakedao. Same with the syn token. If anybody from the galactic mining club or galactic syndicate thinks on where to vote with their luna, just think about that. Sin is currently the highest yield bearing asset on restakedao. It has the most votes. So if, you know, just by supporting whale or votes to the whale, Dex, you will very likely get more yield on your sin tokens. And so we've been trying to really carefully craft these synergies and I believe they will pay off, I'm pretty sure. And man, I'm really excited to see how this plays out, how many votes come in, but we'll be there day one, a million votes. And you know where we're going to vote.
Emphasizing Opportunities and Engaging Community
Yeah. And I just want to point out, you know, the reason why we're hitting this so hard, right? We're talking about it every week, right, because we want to get the word out. This is, as it's been said, this is a massive opportunity, right. And it feels just like alliance, right? Like what we've been saying, I've been saying for a year now. I cannot believe that more chains and more, just that more chains have an adopted alliance and have done what we did, right. I just, it boggles my mind, you know, it's one of the best things we did was adopt alliance and list whitelist Luna on Migaloo. You know, it's been a money printer. It literally been a money printer for us. And just such a powerful tool. This is that. As I think Bigel lunatic said, this is that. But an order of magnitude bigger, right? An order of magnitude bigger. So we can see this opportunity, but I'm afraid that others can't, right, so that's why we're hitting it so hard here. And as Centcom pointed out, we hope that this gets adopted.
Staying Committed and Reflecting on Future
We hope that this gets from zero to one. Like I was saying before, like we. That's what. That's what needs to happen. Something needs to kick in and get the flywheel started for all of us, for Tara, for. For Megaloo, for backbone. We need to get that flywheel started. If it doesn't or if it takes time, then we're going to be farming the crap out of this. Right? We're going to just be. We're just going to be farming the crap, and so are you. And that the yields are going to be there. They're going to be out of this world. You know, it's going to reward the first, the early adopters and all that stuff. But in the meantime, we're going to shout it from the rooftops. This is, this is another one of those big opportunities, just like alliance was for us. I think it's also to notice that, you know, the thing that, you know, this opportunity that we're talking about with.
Building Partnerships and The Future of Tara and Luna
With Tara and Luna, you know, it's not just an opportunity. Like, you know, our teams are very closely now, I guess, tied into the direction that kind of Tara shapes up in. Right. And so I'm excited to have that say and to participate in the Phoenix directive. I'm excited to now have, you know, we've been. We've been doing so much here now, but we're also going to fill a gap that terror is going to need. Terror is going to need white whale services. Terror is going to need support chains. Terror is going to need a flagship alliance chain that shows exactly what the product is like. There's not, there's not. You know, I'm saying we have. We have a need a symbiotic relationship right here. And I just think that the value of. And I don't want to give financial advice. I just feel like the risk to reward for holding whale, you know, if terror goes up by a five x whale will do like a 50 x, right?
Advancements and Opportunities Ahead
That's how I feel. So I'm super bullish on my lunatics and on my meal, on my meagal lunatics, right? Like, I'm super bullish on. If you look at my portfolio, so funny is all. It's all fucking terror projects. I didn't learn my lesson at all. Round two. All right, who's gonna do a, you know, decentralized, algorithmic stable coin on terra? We gotta go. Honestly, I. Yeah, but solid. What about solid? They put a tweet out that they're. They're doubling down. They're not going anywhere. Right? Like, I think that might be an interesting play. It's not really a full algorithmic, but it's something that might be worth. I like that play too, actually. I'm gonna buy some of that shit right now. Honestly. I am just waiting for a good stable coin protocol on terra and a good, like, anchor, like, you know, with some quirks, obviously yield source for stable coins.
Importance of Stablecoins and Historical Context
Because just thinking about the self repaying loans, you know, having self repaying loans with Jira on, say, whale or roar, that just pays off in a year because the yield is so crazy high. That's amazing. But actual real utility also needs stable coins. And if you guys remember the good old days from Terra one with kinetic, they had self repaying loans on UST, and damn, I was excited about this project. That's amazing. And I think if we can get something similar, you know, Terra two will dwarf terra one. And we need to redirect that take rate. You know, like the take rate on these lp's. Yeah, that's going to the community pool. It's just going to sit there, which is great. But imagine the take rate back and back to stablecoin.
Creating a Diverse Ecosystem
So 10% on all the pools, including USDC, it'd be a mixture of everything. What you need for a good, decentralized stablecoin or partially backed stablecoin, you need diversified assets backing it. Right. Well, that's exactly what alliance lP's are going to be. Yes. The lion's share will be lunar, that's one side of it. But you're going to get things like bitcoin, executive USDT, et cetera, et cetera. And it's just going to sit in the community pool unless we do something with it. Yep. So all good stuff, you know, I think you can feel the excitement, right? I think you can feel the energy, you know, and how we're all feeling about this. I'm pretty confident it's coming across. Let's open up the floor. If anybody else, any community members, any other ecosystem projects want to give updates or want to comment on anything we discussed so far, let's open up the floor now.
Encouraging Participation and Acknowledging Community Efforts
Feel free to come up, speak now, or forever hold your peace. Anything, you guys, anything else you guys want to bring up? Send calm. JG ninja. One thing I just want to say is that, you know, we've been, all of us who are, you know, it's all familiar faces when I scroll down here, or not all, but, you know, if you've been. If you've been grinding it out in these last, like, two years, you know, this is definitely, don't fucking quit now. I tell you that, right? If you look at the patterns, don't quit now. It could be tomorrow, it could be six months. I don't fucking know. It could be a year, right? Who knows? But. But don't quit now, because. Because this shit is the future.
Understanding the Future of Blockchain
If you don't believe it, then. Then you're delusional. I don't know else to say. This is the future of how the world is gonna operate and run and be. And be and be cataloged and tracked and fucking everything, right? All fucking, what is it? Supply chains? Every. Everything. Everything's gonna fucking be blockchain, right? So if you don't want to have a piece of blockchain or AI, stay poor, I don't know. But stay. Don't leave. Don't leave. Yeah. You know, I said last week, I think in the closing remarks, the only people, I'm 100% sure the only people left are diamond hands. That's the.
Community Resilience and Future Prospects
That's all who's left. And if you're here, you're a diamond hand. Congratulations. You know, that's it. Those are the. We're the. We're the only ones left. So, you know, it's what it is. It's what it is. All right. Diamond hands and black and blue eyes, but. But we're here having fun. That's right. That's right. I left that part out, but, yes, that's. That's true. All right, Razzie in, sir. Welcome up. And so I just want to say. That I'm very excited with Luna. Like, I was, like, three years ago. Or four years ago, and it's super cool what's happening. So everyone should go vote, and let's make this happen.
Anticipating Celebratory Moments
I'm also joining a lot of fun. To walk for two years, and we gonna have a huge party soon. I like how you casually just threw that in there. We're gonna have a huge party soon. All right, if there's nothing else, I will land this plane. Anybody else? Any comments? Going once, going twice. Oh, wait, we have one more. Yano, come on up, sir. Want to give room for everybody here. You up, Yano? I approved. You can. Are you. Are you here? My spaces might be glitchy. Ninja, can you approve Yano? I'm trying to. Trying to approve him, but it doesn't seem to be working. I think he got rocked.
Technical Challenges and Community Resilience
You know, it said connecting for me so I think he's gonna rejoin and share his piece in a bit. All right. All right. Well, in any case, I'll, you know, I'll begin. Okay. There he is. I think. Yano, you heard, sir. Oh, can y'all hear me? Sorry. Yep, yep. Yeah. I just wanted to congratulate the whole team. I think restake is one of the most brilliant tokenomic advancements I've seen in all across web three. Y'all have definitely pioneered the future of finance, in my opinion. And I am also astonished no one else has jumped on the alliance.
Building the Future of Finance
But y'all will reap the lion's share of the benefit. So it's nothing but excitement on this side. Keep doing what you're doing. You're pushing the world forward. Thank you, sir. Appreciate it. Appreciate the love. Always, always. There's. Oh, a lot of times I think we just hear the haters, right? And we just see the haters, you know, especially on x and the comments and stuff, you know, I think the spaces. It's harder to be a. To be a hater, to come up, you know, come up here and, you know, run your mouth and all that.
Positive Community Engagement
So they like to just do it on comments and things. But, you know, you guys. You guys are the community. You're the users, right? And, you know, it's overwhelmingly positive and love and encouragement, you know, so that. That helps us, and it helps me to be honest with you. So I appreciate that. All right. So, yeah, I mean, again, you got. You can feel the excitement. We got quite a bit going on. We're laser focused on this, on the alliance LP contract coming out Ontario. We see it as a huge opportunity.
Positioning for Success
We are. We see ourselves as perfectly positioned. I mean, perfectly positioned. Especially our white whale decks on terra. You know, this, to me, this is better than tfl giving us their liquidity out of their bag, right? This is better than them giving us pol. This is the market doing it. This is the market directing it. This is more sustainable. It's more community. It's all those things. And I think we have a chance to capture even more liquidity. Right. So we're positioned for it.
Continuous Innovation and Development
We're positioned for it. We're going to play it. On top of all that, we're continuing to build and innovate the way we do in the way we know how to. You've heard CentcoM talk about the self repaying loans, which he's involved in. It's another innovative product that we're pushing out in this ecosystem and in this community. There's that there's so much more. We didn't even touch on Migaloo command today. I think we finished up mobile for Migaloo command this week, or he was finishing it up either today or tomorrow. We're ready to drop that soon.
Testing and Refining New Technology
We got beta users testing it, giving us feedback. We're polishing. We want it to be perfect. We want to be as close to perfect as possible when we do. But, I mean, here's the thing, guys. All of this stuff, does this, you know, does this sound like a $2 million market cap project? You know, does it sound like that? You know, it's. I don't know. Don't get me started on that. Don't get me started on that. But in any case, we're just, we're going to continue to build, we're going to continue to innovate and do what we do, and eventually we are going to get from zero to one.
Catalysts for Change and Future Prospects
Eventually. One of these things, one of these catalysts, whether it be restaked out or alliance lP's on terra or whatever it is, one of these things is going to start the engine, right? It's going to, it's going to be the catalyst that breaks it open, gets the flywheel going and is our takeoff. We're yet to, we're a jet. We're an engine that's yet to take off and fly. But one of these things is going to be the, it's going to be the winds, the right winds, the right catalyst to get us in the air and to get this thing flying.
Commitment to Progress and Acknowledgments
And we're just not going to stop until that happens. We're just not, we got a group of innovators here, a group of builders, and, you know, we're going to make it happen. Also, I want to shout out to Kalabee, right, I cannot tell you how good of a job he's doing with our finances. You know, even in. One of the things is this, the challenges of this market, right. And our market conditions has forced us to look at all of our models, to look at all of our spending, to cut costs and to get lean and mean and to really do a revamp of our, of really our business model and our cash flows.
Setting a Sustainable Path Forward
You know, he's doing that. He's doing a great job of it. We're, you know, Migalu foundation is getting into tip top shape, right, where we're going to almost be in the black, you know, and as we say that without having to subsidize whale, even in these current market conditions, or close to it, you know? And basically, he's putting us on a sustainable path, right? He's putting us on a sustainable path and just, you know, fixing our balance sheet, fixing our expenses, all of that stuff. He's. He is the piece that we needed.
Acknowledging Contributions and Gratitude
I'll be the first to admit it, right? Doing a way better job than I ever could have with our finances as CFO. So shout out to him. Getting our books in order. And we're just, you know, we're getting everything on the right track. We're getting it all on the right track. So, anyways, I want to thank you all. I want to thank our community, our users. You know, without you, we're nothing. Without you, we're another dead zombie chain, right? So I want to thank you guys for sticking in there, for being diamond hands, for seeing what we're doing, for believing in us, all of that stuff.
Final Thanks and Looking Ahead
None of this is financial advice, right? But I just. I just want to thank you. Yeah. And. And let's go. LFG, we'll see you again next week, right? Everybody enjoy your weekend. Have a good weekend. We'll see again next week. LFG, lots to. Lots to look forward to. Lots to be, lots to be optimistic about.
