Space Summary
The Twitter Space Touching Grass With SEI hosted by okxweb3. 'Touching Grass With SEI' delves into the realm of user-controlled experiences within onchain dApps and the significance of tools like the self-managed OKX Wallet in promoting user empowerment and autonomy. The space emphasizes the distinction between engagement and endorsement to highlight the importance of user agency in decentralized ecosystems. Through discussions on autonomy, self-sovereignty, and user-centric approaches, the space advocates for empowering users to take charge of their digital interactions. By showcasing the role of the OKX Wallet in facilitating decentralized interactions, 'Touching Grass With SEI' underscores the empowerment of users in managing their digital assets independently.
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Questions
Q: What is the primary focus of 'Touching Grass With SEI'?
A: The space centers around user-controlled experiences in onchain dApps.
Q: How does the self-managed OKX Wallet contribute to user empowerment?
A: The OKX Wallet enables users to have complete control over their interactions with decentralized applications.
Q: Why is distinguishing between engagement and endorsement crucial in this space?
A: To emphasize user autonomy and self-sovereignty within the decentralized ecosystem.
Q: What role does autonomy play in managing digital assets in onchain interactions?
A: Autonomy ensures that users have full control over their digital assets and interactions.
Q: How does 'Touching Grass With SEI' promote user agency?
A: By highlighting tools like the OKX Wallet that empower users to manage their digital experiences.
Q: In what way does this space advocate for user-centric approaches?
A: By stressing the importance of user-controlled interactions and self-sovereignty.
Q: What distinguishes onchain dApps from traditional applications?
A: Onchain dApps provide users with decentralized and autonomous experiences that prioritize user control.
Q: How does engagement differ from endorsement within the context of this discussion?
A: Engagement focuses on user participation and control rather than passive approval or promotion.
Q: What is the significance of self-sovereignty in decentralized ecosystems?
A: Self-sovereignty ensures that users retain complete ownership and control over their digital assets and interactions.
Q: How does the space highlight user empowerment through technology like the OKX Wallet?
A: By showcasing how tools like the OKX Wallet enable users to manage their digital assets independently.
Q: Why is user empowerment a central theme in 'Touching Grass With SEI'?
A: To emphasize the importance of user autonomy and control in onchain interactions and applications.
Highlights
Time: 00:15:42
User-Controlled Experiences in onchain dApps Exploring how onchain dApps empower users with complete control over their digital interactions.
Time: 00:35:19
OKX Wallet: A Tool for Decentralized Interactions Understanding how the self-managed OKX Wallet facilitates interactions within decentralized applications.
Time: 00:55:07
Engagement vs. Endorsement in Blockchain Context Discussing the distinction between engagement and endorsement to highlight user autonomy.
Time: 01:10:45
User-Centric Approaches in the Decentralized Ecosystem Emphasizing the importance of user empowerment and self-sovereignty in blockchain interactions.
Time: 01:30:21
Empowering Users Through Self-Managed Tools Examining how tools like the OKX Wallet empower users to take control of their onchain experiences.
Key Takeaways
- Onchain dApps provide users with complete control over their digital experiences.
- The self-managed OKX Wallet is a key tool in facilitating decentralized application interactions.
- Engagement in this context does not equate to endorsement but emphasizes user empowerment.
- The space focuses on user-centric approaches within the blockchain ecosystem.
- Discover the importance of autonomy and independence in onchain interactions.
- Learn about the significance of self-sovereignty in managing digital assets.
- Understanding the nuances between engagement and endorsement in decentralized applications.
- Explore the concept of user agency in the world of onchain dApps and wallets.
- Discover the role of OKX Wallet in promoting decentralized and user-controlled experiences.
- The space highlights the empowerment of users through self-managed tools and applications.
Behind the Mic
Introductions and Greetings
Sadeena. Sadeena. Sadeena. Sadeena. Hello. Hello. GMGM guys, it is looking like today is very rugby on Twitter spaces, but we are gonna give it a go and go ahead and get started. We are waiting one more speaker so hopefully he does get on in the next couple of minutes. But let's go ahead and get started. There's a lot to say today. GmGMGm good morning, good afternoon and good evening, wherever you are in the world listening today's OTX wallet Twitter space, we are nearly mid rectember. Hold on guys, fingers crossed, this is nearly over. Singapore 2049 is also just around the corner. So the hype is real and it's a. Speaking of hype, TVL on say is on the up and up. So what on earth is going on over there? Before we start, everything mentioned on this space is for information and discussion only and not for investment or financial advice. With that out of the way, let's get to know our speakers.
Speaker Introductions
First we have Li drew ecosystem lead at say, network. Li welcome back. Good morning guys. I'm sorry, I think the Internet or Twitter might be just. Could you guys hear me? Yep. Okay, perfect. Yeah. Thank you bun sun for like the introduction again, I think like you mentioned, this is the third or fourth time I'm doing this AMA review. So let's just cut this short and I'm just gonna go ahead, introduce myself a bit and then introduce SaI network. So my name is Elsie, I've been with the team for maybe over a year now and I lead the ecosystem on say so. Basically, you may ask, what is say so say is a layer one infrastructure that combines the advantages of Ethereum and Solana. So in simplest term, you can just think of this way. It's a chain with Solana speeds, but also with EVM tooling.
Progress and Achievements
So we have always been. Oh, this can come later, right? Yeah. So we are serving as a new scaling solution for the Ethereum ecosystem and we are achieving really decent speed technically. And yeah, like you mentioned, we have been achieving really good results on the TVL side. So in today's session, I'll be happy to share more about, you know, what's been going on in the last couple of months and how we can involve more people in this together. Thank you LZ. I am being rugged myself over here. But next we do have let's go with Roy Lopez, chief DJ and s three labs. Roy, can you introduce yourself? Gmgm what's up? Yur, I am, I'm Roy. I host spaces on say, I'm a founder of s three. It's one of the larger communities on, say, one of the more active ones. And I'm excited to be here.
Contributions and Community
Thanks for fucking inviting me. Sorry, am I not allowed to swear? I probably should ask that. My bad. Thank you, Roy. Okay, let's go on over to JBD, manager at Frax Finance. Awesome. Yeah, thanks for having me. Hi, guys, my name is Jay. I work at Frax Finance and I manage the BD sector. For those that aren't familiar with Frax, we like to consider ourselves one of the most decentralized stablecoins. And we have our own defi stablecoin infrastructure. So it's a self sufficient defi economy utilizing stable coins as currency. Yeah, so I met a bunch of OKX guys at KBW like last week, Jinnu and Joe and stuff. So a bunch of cool guys as well. Very excited to expand more onto the, say, ecosystem. Very bullish on you guys.
Untangling Perspectives
So, yeah, thanks for having me. Yeah, awesome. Thanks, Jay. Yeah, there's a bunch of us all over the place. Jin woo, Joe. They are fantastic guys. And yeah, I think you'll see them more if you're heading over to 2049. Next. Let's jump over to Jason. Is Jason over here today? Marketing lead at Yay finance. Hey. Yes, I'm here. I don't know what the official stance is on swearing, but I love it. Nah, no. What's that about parallel execution? How about some unparalleled enthusiasm? I remember one of the first spaces we've done with yay was I think, I don't think it was s three labs, but some other, say, community leader was.
Understanding Roles
Was just yelling your like for, I don't know, 10, 15 minutes. So I work on marketing stuff at yay. You can find me pretty actively responding to questions and collab inquiries tickets on our discord. From what the public can see, basically just a glorified discord mod, but I give credit to where it's due. Our team consists of those who worked at tier one exchanges, defi protocols, wallets, and investment banking. So they're the ones monitoring safety, interest models and developing unique features. Perfect. Thanks, Jason. Okay, we're going to go ahead into the questions and get to know everyone a lot more intimately. We are still waiting for Angus over here, so if he jumps on, then we'll give him an intro then.
Launching and Innovations
But let's keep this pretty casual. I'll ask a couple of questions, jump in whenever you feel like, and yeah, let's have some fun. So I'm going to start with Lee. So we know that say has launched a mainnet about a year ago in 2023. Can you share what's been going on in say for the past year? What is attracting the users over to say right now? Gotcha. Thanks for the question, David. So yeah, this is a long journey that we have been through. So in August last year, 2023, we have actually launched same mainnet for the first time ever. Back then were actually a cosmos chain. And so we have been running with that for about eight, nine months.
Challenges and Shifts
And we found out a fatal problem here because were based on Cosmos and were running codes and cosmoism. No, the Cosmos VM side of things. We kind of realized that the broader ecosystem in crypto, they all like building on solidity, everyone's EVM maxi. So, you know, we have been running through different proposals and looking at different things like that and we kind of realize we can't get enough developers or users to come use our chain. So you know what that means, we have to pivot, right? So finding the product market fit is a startups priority. And this is why our talented engineering team came up with this concept of paralyzed EVM somewhere designed by last year.
Building for the Future
So that we started to build and that took maybe six months or so, and we finally launched our paralyzed EVM, the first ever in the industry this June. So after then you might see on DeFi, llama or like similar websites that we have seen upward trajectory. And people inherently, they know EVM, they are comfortable with EVM. And I would say the best problem that we solve, right, was to allow for existing dapps on Ethereum, like Phrax, like uniswap Oku, to easily build on our environment. I think that's the best thing we could do back then. So yeah, this has been our rough journey. And I think to answer your second question, what developments have we built to actually start attracting users and developers?
The Developer Ecosystem
I believe this is a chicken and egg problem that all chains out there, 500 plus if I remember correctly, the right amount. How do you, which comes first, the users or developers? I believe we do have to find a balance here between this conundrum, getting strong developers, blue chip projects into the ecosystem would build confidence within the community, would allow this, you know, to carry forward and allow for more indie developers to start building their innovation, their new take on, you know, something very basic, you know, all the DeFi primitives and all. That's why you have yay with us today here. Yeah. So I think we have just been keeping our heads low, building up the ecosystem.
Conclusion and Future Steps
I think I might have mentioned this in AMA or spaces with Bhunsan before as well. Building a chain ecosystem is like a game of Lego. We do have to lay bricks one by one in order for the ecosystem to correctly take off.
Infrastructure and User Acquisition
So the very first step would be infrastructure, getting the basic stuff in right RPC nodes, getting the graphs, getting. The. Oracles, things like that. And that will allow for DeFi primitives, a lending protocol, for example, having dexs, having pubs exchanges built on dead infra. So at this level, which I believe you're currently at, this is where we need to capitalize on it and get as much users tv out as possible. And this is what we have been doing in partnership with OCAG's wallet. So yeah, I think this is what I have to say today. We'd love to hear from other speakers as well.
Discussion on Product Market Fit
Yeah, I think you've touched on a lot of great points and a couple of them I want to head back to chatting about product market fit as well for blockchains, but I'll give a chance to the other speakers as well because I'm curious from everyone else's perspective at yay. At Fracs and S three, what for you? What's the biggest draw for building on say, or what would be your strategy for acquiring users? Because exactly like Lee says, it is that chicken and egg problem of how do you acquire users to a new chain. We need to build that comprehensive ecosystem for people to interact with. And yeah, I'm curious as to what was your thinking behind building on say and interacting with users there.
Challenges and Efforts in User Acquisition
Yeah, in our last session I think we did two, three weeks ago with big get. I've mentioned that we're a big believer of parallel execution and its throughput, and I think it's pretty amazing that say moved a little faster than something like Monad on that. In fact, a minor issue that came up during that x space was that there was a delay in updating numbers on our UI after a transaction. We're talking like within seconds. Nothing you can't solve with just a simple refresh. But because the transaction completed so quickly that our dashboards auto update experiences sort of a minor delay, you know, so not a bad problem to have. And you know, the support from SAE foundation has been great. They've provided a lot of guidance in the early days. They've helped with branding introductions with other projects.
Community Support and Project Development
Of course, the community has been of great help as well. There are strong believers in the network and its ecosystem projects. We're able to just select our community moderators just from those who really like, say, and what he's trying to achieve. I think what we're looking to build initially is an efficient money market. And, you know, as we're researching, like, what chain to build on, you know, what better place to build it when, say, it has fast execution and kind of a perfect vacancy for any money market to exist. But the long term goal is obviously to grow with, say. And to your question earlier on how we can kind of go hand in hand to help achieve that.
User Experience and Bridging Challenges
I think what Lee mentioned earlier, like identifying the issue of and later introducing, linking this EVM, getting exposure, like we are getting exposed to more ecosystems and networks that we can connect with, but this on a different space. We've also talked about just kind of the user experience and onboarding of new users, maybe from outside of, say, see has done a great job of kind of having kind of an official platform, you know, showing, you know, where the bridges are. But, you know, there's obviously a little bit of friction. We have to, like, link your EVM wallets. You know, certain questions that we get daily even as we, you know, collab with OKX wallet, you know, hey, how come, you know, rewards aren't showing up? Do I withdraw it up? Yay.
Educational Needs and Feature Development
Put it onto OKX wallet and then put it back in. There's definitely, like, more educational material that's required to go around this. But we do believe that the product is good and we're always, like, adding additional features that help with that. So, like, one thing is, you know, instead of going on to the official, say, app, selecting one of the bridges and maybe making a mistake, you know, we added a CCTP bridge, although it's not like recently, so you can kind of just bridge assets from other chains onto yay. Very conveniently, I wouldn't say it's very quick at the moment. There are rate limits. It's also unidirectional at the moment. But we are, you know, always adding these types of features to help it help things go, like, easier.
Sustaining User Engagement and Yield Strategy
And, yeah, so long term goal, attract these assets from other ecosystems, but we also want to make sure, make them sticky. Whether it's like yields, innovating, borrowing strategies, or, you know, there are other apps to look forward to, maybe, you know, spend their assets on within sight. Thanks, Jason. Yeah, I think there's a couple of points there as well, especially with education on users and maybe even acquiring users across other chains. Because I am curious, when you talk about educating users, are you talking about educating new users who are new to completely to web three, or educating users who say, for example, are already interacting on other EVM chains and just kind of educating them on how to get on over to say and what to do over there?
Understanding User Experience and Dimensions
I think it's a bit of both. I think with money markets, we are getting eyes or eyeballs from those who have interacted with other DeFi protocols before but aren't so familiar with the segment network. And as they bridge assets over or just participating in different campaigns, collabs that we have, they run into issues and some are unexpected. So it's a mixture of both, whether it's like just new crypto users coming straight to say, or ones coming in from other EVM chains. Yeah. So there's different content strategies for those, but yeah, we got to cover everything.
Frax's Mission in the DeFi Ecosystem
Sure. You mentioned Defi at the end, and I think that's frax's mission. I believe were one of the first protocols that we worked with you guys. So, you know, our, we're trying to expand on the Defi ecosystem. obviously, we're very bullish on se, and I think I have very, I have a different angle. So I met, say, I met the se guys, actually through conferences. I didn't know much about them, but I went to your events a lot. You guys have a very good marketer, and you guys have a very good events team because you guys throw, like, very great parties.
Integration and User Engagement Strategies
I met Vasco there as well. currently we're active with three protocols, so I think jellyverse, dragon swap, and also yay as well. So it's like, finally, it's good to meet. So I guess we're going to expand on base pools. So it's not the base layer too. Base pools are pretty much stable pools, so the tokens inside the pairs are stable coins. And so unless there's like a black swan event, it's really hard to change whether it's by buying or selling. For those that aren't too familiar, it's very similar to the curve stable pools as well. And then through that, we can make meta pools.
Defi Development and Yield Opportunities
So base pools can be used to be paired with other tokens and they will be called metapools and then you guys will be earning extra yield on top of that. So I guess strengthening the defi angle is great for drag and swap. We're working with more volatile pairs. So I guess like FXS, staples, it's good for exposing users to our governance. Token is a good place to sell FX as well, or even buy on top of their, I guess, pseudo revolting. So it's like compounding pretty much, but yay.
Future Plans and Yield Strategy
I believe it's like a lending market. And so we're going to have fracs and SFrax soon as well. And hopefully our Ethereum pegged tokens as well. So we're expanding market share. We're talking to a bunch of, I guess, projects on the LSD side. So in the future we're going to be working a lot with the yay. So I'm looking forward to that. And yeah, you just don't get the yield just from one way. You pair it with the base pool, so you'll be owning it from multiple angles. We had a say thread September last year. I think say launched also September last year as well. And you guys have been doing amazing.
Community Growth and Collaboration
So yeah, I guess keep up the bullish advancements here. Yeah, I think I might be getting ahead of myself here because kind of touching on TVO on say as well because you're mentioning a lot about the yield and the attractiveness of Defi on say. Do you think it's mainly that the options you can have to, I'm just going to say yield farm and maximize your yield, that's drawing users over to say and like driving that TBL a lot higher. Yeah, I think if everyone is trying to be, I guess, the super chain or the biggest, you guys will have to have enough addressability, you know, for example, stable coins instead of trying to compete with other stable coins instead of fighting for, you know, a bigger slice, fighting for a bigger cake for everyone else is much more beneficial not only to you guys, but to, I guess, other people in your ecosystem as well.
Collaboration over Competition
So instead of just fighting, I think I'm working together is just much better for Defi in general. I yeah, I'm very, I'm a broken record, but I'm very bullish on ze. Yeah. Yeah, I think we're going to hear that a lot. So I don't think there's any fear of being saying yourself as a broken record here. I will jump over to Roy because you'll probably come at it at a different angle, more from the community perspective, I guess. But what draws you to the community over at say, especially with it being a relatively new blockchain, how has. How have you seen the community grow and how do you see it sustaining itself?
Community Engagement and Growth
Yeah, bro, I was getting a lot of comments in the s three discord. Some complaints that there wasn't enough urine on this space, so had to come in with the year. But, yeah, dude. Yeah, it's interesting. Cause, like, we didn't really, like, get pulled to say to build anything, right? Like, s three is not really like that. It was a very organic thing that kind of evolved out of the community and. Yeah, dude, I think the community on say is one of the most. One of the reasons to be bullish on it. The most. Honestly, like, I think the community is insanely strong, active as hell.
Community Vitality and Communication
Like, there's, like, multiple voice chats going on at all times in discord, which, like, I guess we're the last chain to use discord. I don't know, but we're in there all the fucking time. Spaces, like, constantly that the community, you know, like, shows up for, like, projects that, like, have a lot of community support. Like, the fuckers. Like, everybody's just on the timeline. Yurt. You know?
Community Support
So, yeah, man, the community is really supportive of each other and very strong and, like, tight knit and so, yeah, man, I'm bullish on, say, because of the community, among obviously other things, but the community fucking slaps, bro.
Personal Reflections
Yeah, I think I can definitely say that. And I don't think I've ever yeared in my life. I'm not going to embarrass myself. Dude, give us a year, bro. Come on. I'll do it for you at the end of the space.
Communication on Discord
Yeah, I think the community is great, and especially on. It's interesting for you to say that you guys are on discord as well because Discord is kind of. I feel like it's the remnants of the 21 bull market and, yeah, it's great to see that there's a lot more engagement there because I feel like you get more intimate communication on Discord, whereas on Twitter, you're kind of just kind of commenting on other people's posts.
Real Interaction
You're not really getting that real interaction and getting to know your community a lot closer on your side. On the community perspective, what do you see as people being most excited on? Because this past year has been meme crazy. Do you see? And I think my first exposure to say was through the say nfts do you see people getting more excited about that area or more on the Defi aspect or other infra?
NFT Enthusiasm
Yeah, dude. I think that the majority of the community that's, like, active in s three, the one that I'm most familiar with, there's definitely different pockets of the, say, community that I'm not, like, super tapped in with, but the one that I am tapped in with is definitely a lot more NFT heads, for sure. We kind of, there was kind of, that's kind of what brought me to say my homie was like, hey, bro, you got to get one of these sayings. And I was just like, okay.
Community Excitement
And so I did. And that's kind of how I got started on say. But I think a lot of people are really excited right now. Everyone's freaking hype for Magic Eden, dude. magic Eden has been teasing, say, integration. It's almost, like, guaranteed to happen at this point, so. And that's just another testament to the community strength, right? Because, like, that Ben freaking tweeted out, like, for like, 30 days when magic eden, community was raiding hard.
Strength of Community Initiatives
And so Philip was even saying in the town hall today that he's going to trademark community driven BD, which I thought was a wild thing to want to trademark. But, yeah, man, so. But I think people are excited about the defi things, too. Like, we've seen some, like, action with. With some meme coins, even from the more NFT focused people. and, everyone's, like, trying to figure out how to farm all the incentives going on set because there's a ton of incentives and, as, like, unexciting, I guess, as defi is compared to, nfts.
The Appeal of Free Money
Right. I. Free money is awesome. So. Yeah. Yeah. But I feel like with the incentive of free money and airdrops and these points that people have been burned in the last couple of months, like, putting time and their own money into farming all these things only to be returned by, I guess, disappointment. But in my own personal opinion, I guess it's what can you expect? If you are farming and expecting to see sell immediately after you get the airdrop, then the drop in price is inevitable.
Sustaining Community Excitement
But it's great to see that on the NFT side, there's still a lot of hype and people are still rallying together to get around there. I want to move back over to the great news about TVL being all time highs. I'll move this over to you, Lee, as well, because I want to get your thoughts, especially on the how you achieved this milestone and where do we really go from here? Do we keep focusing on Defi, or is there anything else that Sei would like to specialize in?
Focus Areas for Sei
Or is it all about building that overall comprehensive ecosystem? Thanks for the question again. Yeah, so I do think that it's a great news that we're celebrating, like having SaiTVR reached all time high. I believe we are at about $130 million right now, and that is largely due to our partnership with OCAG's wallet and also other valuable partners that you see on this space today.
Challenges in Building Ecosystems
So the path to this mouse is definitely not easy. If you really open divider llama right now and check the number of chains out there, I believe they have only indexed maybe 500 600 of them and over 200 of them have zero TVL. So building a chain is easy. It's easy to use Cosmos SDK or just fork any change you see out there. But launching an ecosystem, making it strong, having strong communities is the hardest part.
Collaborative Community Building
I guess we are on track on building this together as a community here. So, the path to this I was mentioning briefly earlier that it's a game of Lego where you have to build an infrastructure, you have to make sure the user experience is as seamless as possible. So I think Alex from ye brought up a very good point just now about having bridging be an issue.
User Comfort with Bridging
Because to be honest, this is not something regular retail user will be comfortable doing, having a set transfer from one chain to the other, but having CCTP integrated by them. This is an example of why I say we have strong, committed founders in the ecosystem. Yeah, it's a learning protocol and nobody expected them to integrate CCTP having this bridging function done.
Support from Founders
So I really appreciate all this support that not just ye, but also other founders that you see on this call. They go way and beyond to actually help the ecosystem grow. So yeah, the path to this milestone in December last year, this is where I can say kind of got into the purview of some users from the NFT craze that Roy just mentioned from the meme coin rush.
Sustainable Growth Perspective
Those have been great, but I don't see those as very sustainable ways to grow the ecosystem just because those are hypes, those are fats. If it fades, it's not exactly something that can bring us to in the future a long way. This is why DeFi, like I mentioned earlier, is one of the core building blocks. This entire game of Lego here.
The Necessity of DeFi
We need a strong defi ecosystem. We need to have strong liquidity, we have to strong basically the assets in the ecosystem before developers is willing to build a next big thing on our ecosystem. Here, for example, I wouldn't say without a huge amount of liquidity, people are willing to explore myriad assets, for example, synthetic stocks, ETF's, things like that, the traditional money, having the big public hedge funds come into our ecosystem, you need to build a level of confidence there.
Cross-ecosystem Confidence
And this is done through a strong DeFi ecosystem and having strong tv health. I do believe that every sector that we are talking about here, NFC, Gamefi, DeFi or things like that, they all serve a different purpose. So we have also, DeFi is definitely a focus, but we also are focusing on different things, the memes in Gamefi, and there has been quite a game that's pretty hot recently.
Emerging Opportunities in Gaming
It's called greedy Goblin. They basically are getting a lot of users through a very easy to use, zero onboarding game on Telegram. So I believe they are the first ever non torn tab to earn game. And right now to this day, they have been live for about a month and they have gathered over 230,000 on chain users, which is pretty insane.
User Engagement Strategies
So yeah, this is what I mean, if we want TVL, if you want a strong liquidity, we will focus more on the Defi ecosystem. But if we want users, we want a strong community, we will focus on the culture side of things. So yeah, I think what will we do for the next steps? It's really a good question.
Improving User Experience
We will continue to revamp and make sure the user experience or users gets easier and easier. Right now, just because of the nature of parallelized EVM, it's not the easiest to get it. We are not as easy as a pure standalone EVM network. So user education, having things done by us and our community to improve this entire process would help onboard and really get more users into where we can actually explore things together.
Innovative Future Projects
So after that is done in parallel, I think we will start focusing on getting new innovative projects in. I believe we are still very early in this web three innovation. So I believe we are setting up the stage where we have a perfect hub.
Building a Collaborative Hub
So think of it as a, where people, developers are willing to build on, users are willing to come in and play. And yeah, this is our angle here. Thank you.
Challenges of Onboarding Users
Yeah, man, I kind of want touch again on two points. I guess you mentioned, because you mentioned a lot, how many chains there are right now. I guess overall in web three, and the potential challenges of onboarding users, is there any specific challenge that users might face to onboarding to a parallelized EVM?
Understanding the Process
Right. So I would say the biggest right now is the wallet association process. So for people who are not familiar, how it works is that both vms, the cosmos and EVM runs on the same layer. One. So some people might have the misconception, say has two chains, but in fact we only have one.
Clarification on Chain Structure
Right? So it is only one save chain. But we allow users to build either Cosmos or EVM, or use or build on either one of them. And, you know, it's basically aggregated into the same chain, fundamentally. So right now, since we just started our EVM maybe like just three months ago, we have seen a lot of traction, but I don't think it's enough.
Continuing Improvements
The exchanges currently, who's voting say right now, they do not really support EVM withdrawals and deposits. And this is something we're definitely working on to improve the entire process. So, yeah, there's only a couple of exchanges that if you really look through our Twitter page, you would see which astringences are spotting us right now.
User's Process of Getting Assets
But that will show one issue. If as a user, I want to get assets into my EVM wallet, I would have to go to the sales page and link existing sales address to the EVM address, and then after that, the user can deposit from different exchanges or their native wallets into the, say, wallet. It will be reflected on the EVM side as well.
Complexity in User Instructions
So this process, I'm sure even explaining it without a diagram or like any documents, articles to support this is kind of hard to understand. Right. So we aim to really, you know, just optimize this entire process here.
Progress and Optimization
Yeah. So I believe our engineers have been working on this. There has been already a couple of revamps that make this better than it started off, but, yeah, this is something that we still putting our heads on.
Future Enhancements
Yeah. Yeah. I mean, I think it's definitely going to improve. And so far, it seems with TvO increasing, that it is driving a lot of users over there. So it's great to see the enthusiasm from the community to get involved, and I do see Roy with hands up.
Community Engagement
Go ahead, Roy, feel free to jump in. Yeah, I was just going to say I was waiting for Joe, who's behind the say account, to finish typing because I thought he was going to answer my question.
Linking Processes in Compass Wallet
But I think if you use compass, which is like the say native wallet, you can link the addresses in there, which does make it easier than if you're using metamask and have to go to the say app to link them. I think you can do it in the compass wallet, too.
Wallet Infrastructures and User Interaction
And I feel like this is something a lot of wallet infrastructures, especially with us at OKX, Web three, are trying to make easier that interaction of users between different chains. So for anyone who doesn't know, I guess it's like a ten second show. We have integrated save, we've integrated over 100 chains and we're trying our best to make sure that when you are moving around on different chains that it is easy to move between them and interact with the Dapps you want to interact with. I'll move over again to fracs or yay. You guys feel free to jump in as well.
Activity in DeFi and User Engagement
With regards to the defi aspect, are you seeing. I'm just curious on a personal level as well, are you seeing a lot of activity in terms of it's a lot of wallets coming in and contributing through that TVL or is it like a couple of big whales who are coming in and. Well, experts at yield farming. I'm sorry, was there a question for me? For anyone? I can go to Jay or Jason? Oh, I think we've lost Jay, so I guess I'll go to Jason. There's been a mixture of both, but we can talk about just how this OKX campaign is going. The engagement has been great, but we do see some pretty creative strategies from users that are a little more experienced that they employ to kind of maximize taking in those bonuses.
User Participation and Market Behavior
But that's. We want to make sure that more users get to fairly participate. So we're always actively adjusting some of these parameters to. To solve this, basically. But yeah, I think the fast movers are those that have these additional tools. They're even actively monitoring our time lock contracts to see when exactly to the second our supply cap would increase. And then they maybe write a script or something and lock their liquidity in. I think for the better part of our season one points program, we've also allowed looping and that's. It's still going to be allowed, but numbers are going to change.
Confidence and Trust in the System
We like to see different strategies, different types of users coming in to participate. but, it's not. I wouldn't say it's like fully detrimental if like whales move their assets in. That. That TVL boost does give, you know, build confidence for, you know, other smaller users be like, yeah, there's something there. If whales can trust this, maybe I can too. Right? Yeah.
Whales and their Role in Market Dynamics
And I think that was the kind of logic in my head as well that I feel like wills kind of get that alpha a little bit earlier on how they. And they have a lot more. They have a lot more capital to experiment with different DeFi protocols. So they kind of jump in and then that's when we see the flood of users coming as well. So it is good to see either way where the users are. But, yeah, so there we OKX DeFi has just onboarded a Sei assets lending campaign. And so, like you said, Jason has been a great success.
Strategic Partnerships and Community Feedback
Do you want to go into a bit more, like, why specifically choose to work with us as a strategic partner? Yeah, just to your point earlier, like, the whales also provide some really valuable feedback when they. Because they have a lot of assets, so they have a lot more stake, and that's been very valuable on our collab. I've worked on a multi-chain wallet project before, and this multi key, multi or cross chain portfolio management thing feature to me is sort of the single feature that I sought for.
Personal Experience with Wallet Ecosystems
And right now I have ten different wallets imported on OKX wallet. And this coming from someone who's imported private keys onto a well funded wallet called Slope back in the day, which was the second biggest wallet on Solana a few years ago, number one on mobile, and ended up leaking our private keys, where I got drained to zero. Obviously, OKX is way bigger, way more reputable, and has way better track record, but, you know, the convenience is just unparalleled.
Interacting with DeFi Protocols
You know, the fact that I could hop between different DeFi protocols, manage my yields, and remove permissions I've given to different contracts, it's very useful. And I think OKX has been able to kind of gain traction from both its sex users and DeFi users. You know, I, for one, isn't KYC on OCX, but I use a wallet a ton. So its latest support for say, and subsequently yay. It's giving us a lot of exposure to x, OKex's large existing user base.
User Benefits and Collaboration Growth
But the user is getting. The user base is getting something in return, right? You know, better yields, better defi strategies, better borrowing experiences. And this goes hand in hand with our goal to grow together with, say, and, you know, the broader crypto or defi adoption that I'm sure OKex is also behind. Thanks, Jason.
Community Involvement and Upcoming Updates
Yeah. That was a question to trick you into just showering us with compliments. Yeah, yeah. That's a pretty strong personal endorsement. I do not speak for yay, but yeah. But, yeah. Thanks for the kind words. And we try to reciprocate with all the projects we're working with yay, with fracs, with say in general, the whole say ecosystem. We want to get more involved and work with everyone in the ecosystem to build that comprehensive environment where people can get involved with what they want to get involved with.
Anticipated Developments and Engagements
I will. I guess I'll ask the last question of the space, which is if you guys wanted to share any alpha or any updates with what's coming and what the users should anticipate or expect. With yay. With say we lost j, so we can't say with fracs and with s three as well. But I guess I'll start with Lee. Is there anything in specific that you want to share with the community here today and anyone listening in the future? What should they be specifically?
Encouraging Community Growth and Future Collaborations
Specifically been paying attention to on say? Yeah, for sure. So I just wanted to let people, the community know that us reaching all time high TVL, it's not the finish line, right? We're not at a finishing line here. We barely just got started. So we asked you really trying to get our things, you know, building things with our heads down freely, getting the big updates coming up.
Networking and Shared Knowledge
So yeah, I think we will see more collaborations with OKX in the near future as well as other notable partners in the space. I think everybody could give, say, network a follow on Twitter. It's currently the co host if you guys can see it. Yeah, we will be posting all major updates there and our community team is really talented at push with the memes and also you could just enjoy and indulge in our community here. Thank you.
Promoting Engagement and Reward Opportunities
Thanks, Lee. And exactly as Lee said, make sure everyone goes ahead and follows the official state account over there as co host because there are a lot of updates. There's a couple of cool campaigns coming up as well, so everyone has a chance to get some awesome rewards as well. I'll move over to Jason at yay. Any last words? Do you want to share a bit?
Seasonal Trends and Innovations
Ye what's coming up? What should the users be paying attention to? Sure. To Lee's and Roy's discussion on meme coins earlier, I think they're definitely more seasonal and when they're no longer sustainable, they kind of go away. But we might just be looking into some possible features to kind of capture these seasonalities whenever they come back.
Addressing Liquidity Challenges
So, you know, maybe we're looking into supporting permissionless asset listings, but usually these come with like lower liquidity issues. But, you know, maybe we'll be able to solve that. But I can't. I can't reveal how just yet until maybe we finalize our light paper and we'll publish it. I think that's a good hint for everyone to go ahead and follow Jason a yay as well because there's a lot of alpha to come.
S3's Role in Ecosystem Integration
And I'll pass it over to Roy as well. Roy, do you want to share anything coming up with s three? Yeah, man, I mean, s three is not going anywhere. We're a good hub. If you're looking to get started on, say, network, we try to make things easy. Excited to add OKX to our ecosystem links.
Simplifying User Experience and Support
we have like a little channel that makes it really easy to figure out what's going on say, and so, yeah, man, if you're interested in like learning more about say, s three is a good place to start. so, yeah. Cheers, Roy. And thanks to all of our speakers today, there's a lot going on say.
Continuous Updates and Learning Opportunities
I mean, we've done like three or four spaces with say already and then there's still more to learn. I feel like every, it's only been what, like a couple of weeks space. Every time we do a space with you and there's just more and more updates to come. And every time we do it, there's a lot that I learned from you guys.
Closing Remarks and Community Engagement
So make sure that everyone follows all of our speakers here today. There is a lot coming up and yeah, get to know everyone, get to know the updates. Quick show on OKX web three wallet. If you haven't downloaded the wallet yet, please go ahead and do so. It's going to make your web three journey just a lot easier.
Encouraging User Participation
I mean, I feel like if you haven't downloaded OKX wallet, then what are you doing? You're just making your web three life a lot harder. We've got 0% fees on Dex, on NFT marketplace defi protocols. Great events coming up with say with yay. I think great events now as well.
Inviting Community to Explore and Engage
So go ahead, check it out. Get involved in the say ecosystem. There's a lot to play around with. Once again, thanks to all the listeners, thanks to all the speakers here today. Have a good day or good night wherever you are, and see you in the next one.
