Aave Pro, DeversiFi strategic round & more - The Daily Gwei Refuel #123​​ - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel where recap the latest news in the ethereum ecosystem i'm your host anthony cesano and today is the 18th of may 2021 all right everyone let's get into the news from the last 24 hours so i actually put this tweet out earlier today and uh basically a list of things that i'm excited about in the ethereum ecosystem that don't get nearly enough attention and you know this is for one reason or another maybe like a lot of us don't talk about it very much or it's not as marketable as something else right you know we're all well aware of like eip1559 and the merge and things like that and those are really big things but i do believe there are tons of other kind of like major things happening within the ethereum ecosystem that not

enough people are talking about so i'll quickly go through my list here i also wrote more about this in the delegate newsletter you can go check that out for for some links and things like that as well but essentially the the list goes like this so the first thing is eip3074 which is going to be a major boon for user experience now i'll give a quick tld here what this allows for is it basically replaces uh something called meta transactions with a new feature that basically reduces smart contract complexity makes it more trustless to do these kind of um batch transactions uh and and and have like a really great user experience experience at the same time now what does this practically mean for users well you know how every time you go on like uni swap or or some decentralized

exchange and you have to approve a token before you can trade it right so you have to do two separate transactions well what 3074 will allow developers to do is to build functionality into their smart contracts where you no longer have to do that so you can essentially do one transaction for the approve and the swap you know in the same transaction so this works to um save on gas fees of course and this also works to uh get rid of that really crappy ux where you have to approve two transactions now that's just scratching the service of what this can do developers can basically from my understanding string together any number of transactions that they want um and kind of like one one transaction here so any number of actions that they want in kind of one transaction so you can do a lot of really cool stuff around that

so yeah that's really cool there next up is the altair upgrade which is the first eth2 network upgrade this includes a bunch of uh of upgrades um specifically around uh the incentive mechanisms and the penalties associated with like slashing going offline all that sort of stuff there so um and and i think it's really exciting because as i said it's the first major eth2 upgrade it's gonna be the first time the eth2 network uh hard forks uh you know as part of that network upgrade and it's just gonna be great to see to see that happen next up we have the ethereum core dev apprenticeship program which i talked about i think it was yesterday the day before was refuel and essentially what this entails is it's a program that allows people to i guess more simply be on board

to become an ethereum core developer as that kind of process has been very murky in the past where it's been very hard to onboard it wasn't simple in in any way uh and it took a a lot of time people to get on board and it would actually scare a lot of people from trying because it was just too much of an investment and to too messy so this program aims to simplify all of that next up we have dao's launching grants programs i've spoken about this before on the refill as well about how a lot of these d5 projects have massive treasuries now and they're trying to kind of like find what to do with them and one thing they do is they create these grants programs so we have like compound grants rv grants union swap grants there's a bunch of others out

there and these grants work to either reward individual contributors or award teams and stuff like that and i think this is going to have like a very big impact on the wider ecosystem um and it's going to be able to fund a bunch of different things that wouldn't have gotten funded before so that's really really cool and last up we have aztec networks l2 or layer 2 privacy tech which i think is really really cool uses a lot of the same technology that we're all used to in the layer two space but has our privacy as its backbone here now i think privacy is is really um underappreciated and really under discussed within the crypto ecosystem especially for something like ethereum where every transaction that you do is is traceable right like very easily you can go on etherscan and say anything you want

um and of course like there's a lot of financial transactions happening so definitely need more privacy there but aztec's layer 2 kind of roll a privacy roll roll-up is live you can go use it right now if you just go to the aztec website or zk.money actually and you can use it on there and kind of play around with it so definitely check that out but i think you know privacy is going to take a little while to adopt but i hope to see privacy by default eventually if we're all on layer twos then there's no reason for privacy not to be the default at the end of the day so yeah those are just five things that i came up with there's plenty of other things happening within the ecosystem of course that to be excited about but these are the lesser known things and i just wanted to

kind of put a spotlight on that one so cl everyone's favorite aenon cat on twitter today basically put out a tweet where he said he has this flipping thesis which is essentially he says eth has better futures market structure there's no grayscale unlock uh proof of stake in q1 so the merge uh not polluting indefinitely uh which is a narrative right like how um bitcoin has the really bad narrative uh right now around proof of work uh it's the base pair and collateral for d5 which coinbase have now made a wallet for which i will go over in the next tweet um and it's the currency of the nft space that is pricing in all internet culture you've got one five five nine um and yeah i mean there's lots of catalysts there so

i think looking at this this is a lot of the stuff that i've spoken about before on the refuel so this shouldn't be coming as a surprise to any of you but it's good to see other people that uh i wouldn't consider like hardcore ethereum people uh kind of like cluing into this and putting the signals out there that the flipping is real and i i think it's definitely going to happen sooner than most people realize there is just so many positive headwinds for eth right now eve has been able to battle off so much fun and come back stronger the eighth btc ratio has obviously been trending up for a few months now and it's been going uh you know really great across the board there we have the major catalyst that i always talk about like one five five nine and the merge and things like that so

i won't dawdle too long on this because i speak about this all the time but i think it's just good to see people from you know outside the hardcore community putting a spotlight on this and talking about that coinbase uh wallet here so essentially what this is is basically a browser extension that allows you to connect to to d5 or to d5 apps or to different kind of like ethereum apps uh by using the coinbase mobile wallet app so it's like it's like a wallet connect kind of functionality here which essentially allows you to kind of sign transactions um on your phone but uh but use kind of like the desktop experience sort of like what you would do with metamask so you can use this for basically anything that you can use metamask for right you can see it right here in the screenshot

uh this allows you to connect uh your coinbase mobile wallet app to all of your favorite apps without having it having to do it through the mobile app now the reason why coinbase has released this or released this wallet extension is because if you remember the coinbase used to have an inbuilt um web3 browser where they would actually have like favorites and kind of app and link to different apps and stuff like that but the app store or the the apple app store um has a policy that you're not allowed to do that uh because it's like selling us it's technically like selling a service within the app um without you know uh without apple getting a cut which i thought was a bit stupid but that's what it is so this is coinbase solution essentially allow users to keep their coinbase mobile wallet app which

is a great mobile wallet app mind you i am i have some assets stored on there but then also use them with uh you know all of your favorite apps on desktop without having to use it through the mobile wallet app so really really glad to see this really happy to see coinbase supporting more you know d5 stuff and and they're really going all in on d5 here i think that's really really important because as i've spoken about before you know we have other exchanges that are rather hostile to ethereum right now you know binance obviously has bsc that they're trying to promote uh uh ftx has solana that they're very heavily involved in i've seen this other kind of like uh centralized exchanges now that have essentially launched their own chains trying to replicate the um the the success of bsc so it's really great to see coinbase

taking a this neutral approach where they're just like well we're just going to support ethereum and d5 you know they've supported kind of like obviously bitcoin and i'm sure if the like network ever matures to a certain point they're going to support that and things like that so uh yeah really cool to see this from coinbase and kudos to them for getting this out there speaking of mobile wallet apps arjun another very popular um app here one that i also use uh announced today that today that they've got over one billion dollars now stored across all of their urgent wallets which are smart contract wallets for those who don't know uh which basically allows you to get you know smart multisig security as they say here one tap defy no free seed phases no single points of failure and their layer

two is on the way now i've discussed their layer two plans on the refill before so i won't rehash it here but this is just really cool to see that there's over one billion dollars uh stored in argent world so over one billion uh dollars worth of capital is trusting argent wallets to secure that capital um so yeah just just awesome to see that and i figured i'd bring that up as uh you know coinbase wallet isn't the only game in town right you have argent and rainbow wallet as well as killing it on a lot of fronts too so really really great to see this so diversify has announced a new strategic round today so five million dollar race here uh full disclosure i did participate in this as an angel i wrote a small check but for those who don't know device diversify is building a layer 2d5

ecosystem on starkwear's technology they are basically i would i would say they're very similar to loopering in that sense where they're trying to build things like decentralized exchanges and ways for people to tap into d5 on layer 2. so obviously i'm bullish on diversify as i am an investor here i think the team is great i think they're doing amazing work and they've been at it for quite a while now um so yeah this this round is really great to see and you can see like it's basically the who's who of d5 investors you have powerful capital which i i think led the round then you have defiance capital delphi ventures uh you know from bushi starkware invested in it too spartan you know basically most of the top tier kind of investors here now for those of you who don't know there is going to be a dvf token

uh this was basically strategic ground done before i think the public kind of um air drop of the token i'm not sure if they have the breakdown here but there is essentially a breakdown that says that eight percent of this token is going to be airdropped to people so if you're not using diversify maybe it's uh you know it's best to get on there and start uh you know start start using it not just you know for the potential of an airdrop but also to to avoid the kind of gas fees obviously and and get cheaper and faster transactions and to basically you know learn to love ethereum again i've been seeing that that comment from a lot of people lately as they use more of these layer two solutions or kind of like side chain slash commit chains like like polygon and stuff like that

where essentially they're saying they love ethereum again because they get to have this really um this experience uh with cheap and fast transactions um uh but like an ethereum like experience at the end of the day which is really really cool so yeah congrats to diversify on this round very happy to have been included um and i'm really excited to see where they go from here so connex network uh put out a blog post today that they've created this thing called uh the virtual amm and and liquidity auction so this is how they're planning to solve the liquidity problem or the fragmented liquidity problem between different chains and different layer twos and stuff like that um so this is fully detailed here of how it all works but essentially

i mean you can read this blog post for yourself but essentially this is the the the tl dr in this screenshot here is that you have two different kind of like i guess you could call them chains here where you have the polygon pos chain and you have the arbitrary layer 2 chain here and these chains want to kind of talk to each other right they want to liquidity wants to move between them and so how do we do that without going to ethereum's layer one well you can go through the connect router which acts as a liquidity provider or a cross-chain kind of decentralized exchange if you will for these two platforms and it uses state channel technology which is a layer 2 technology to to achieve this so that's essentially what connects tries to do basically be the router between all different types of chains doesn't matter

what chain it is doesn't matter what layer 2 it is they want to be able to do this uh by using you know amm technology here so anyway i uh i suggest going and reading this blog post it gives a lot more detail about what this actually is and how it actually all works but i'm personally very excited to see how this pans out because i do think that liquidity fragmentation is a problem not only for layer twos but also for for different chains and things like that but once we have these bridges it goes from a problem to an opportunity and you can start building really cool apps with these bridges as well so yeah really really cool to see these from connects definitely go check out the blog post so scoopy triples put out a really great tweet that i really loved today just

reiterating this that i've been thinking about a lot here uh but essentially he put out this tweet that said all these eighth killers are trying to solve the scalability problem but don't have enough usage to even have a scalability problem uh keck which is uh lol um this is really important because if your chain has so i guess there's two reasons why your chain would have low transactions or kind of like i guess low transaction fees or um or or kind of like um fast transactions or things like that so one of the reasons is that it sacrifices decentralization for scale right which is essentially true for every non-layer 2 chain i mean to be fair it's even true for the the polygon pos chain there's

yes they have over 100 validators right securing the network but it is not um as decentralized as ethereum right i love obviously love polygon but it is not as decentralized as ethereum so they can achieve a greater scale because of that and that's what i say it's bad or anything like that but but generally ethereum could scale you know more if it wanted to on layer one but it doesn't want to sacrifice the incredible decentralization that it has and secondly it you know these platforms will tout they've got like 50 000 transactions per second and this sorry this feeds into the first point where they'll tout this but again they'll never tell you that they're centralized or they're way more centralized than ethereum they're always going to try to sell you in a narrative or something like that so that's where a lot of this comes from

and also if you have no users users at all and you're not generating any fee revenue then i mean you're not going to have kind of like these scalability problems and you're solving for for nothing it's essentially building uh as i said here a a ghost chain or like a ghost city whatever and i've spoken about this before so i won't kind of like dawdle on them on too much here but i think this is just a really great way of putting it at the end of the day but yeah as i said it won't dawdle too much here i just thought it was interesting and i think that um i think that uh it's it's something to keep in mind when you're comparing different chains to ethereum and even just like different chains to to bitcoin and kind of like other other chains out there you always need

to look at okay where is the scalability coming from how are they achieving this and what are they giving up to achieve it so on that note i did want to kind of like re i guess like uh i guess shine a light on this post from vitalik that he put out back in october of 2020 called a roll-up centric ethereum roadmap because there's a lot of new users into the crypto in especially ethereum ecosystem uh since this post was published and i think this is basically required reading for anyone in the ethereum ecosystem like it's not very long but if you want to understand the future of ethereum how it's going to scale and what it's kind of like scalability roadmap looks like vitalx posthere is it and the tldr of it is essentially that eth2 and

sharding and layer two are all complementary technologies they do not kind of like uh uh they are not parasitic to each other just because we have uh e3 coming with sharding doesn't mean that layer two becomes obsolete what what sharding does is it actually enhances layer two and gives us even more scalability at layer two and the road map for ethereum is basically to do this right keep layer one as decentralized and secure as possible while scaling via layer 2. and obviously i'm preaching to the choir here and i've spoken about this a lot on the refuel so i won't i won't rehash it again here but um definitely go give this a read like i mean i highly recommend this to everyone and if you don't read this you will you'll continue being confused because i

think a lot of people are confused by the eth2 sharding layer two thing and they think that you know one shard and gets here layer two is dead and there's there's no point to it that that's that can't be further from the truth so yeah just definitely go go give this a read here so mariano put out a tweet uh i think it was yesterday where he said the number one reason i'm bullish on ethereum is because i'm building on it and so are all my friends i mean this is the ball case right the developers the developers have so much power in this ecosystem they a lot of them are in it for the tech a lot of them don't want to just make like a quick buck and just exit scam or whatever or just like go build on another chain that doesn't you know fit in with their

values right this is why you don't see a lot of teams focusing on other chains like whether that be bsc or like um you know any number of the other trains out there because they want to build on ethereum and at the end of the day the developers um you know are the ones which the users follow so if the developers build something on on ethereum then the users follow that the users are going to use it and then when we have layer twos the developers are gonna have such an amazing design space to start building better applications on without the constraints of the layer one main net with with gas costs and things like that and and and and i guess like uh problems with speed and stuff like that so yeah i mean i couldn't couldn't have put it better myself i think mariano uh

you know hits at home here with this tweet so the universe.xyz white paper is out here so essentially what this is it's basically a meta universe uh guess targeting kind of like nfts and and kind of like uh things like that they they describe themselves uh here as like the universe protocol or a dow for kind of like um uh uh kind of like nfts and transforming mfts from standalone objects into franchises of collections and things like that uh but basically what this white paper details is you know how it all works you know how the the auctions work how the royalties work stuff like that um how all the collections are going to work how their doubt is going to work so there's actually going to be a token

involved and you'll be able to farm this token too and this is the first yield fund that i've seen in quite a while that's going to allow you to farm with just naked tokens so typically you'll need to kind of like put lp tokens up which exposes you to impermanent loss but essentially what this farm lets you do is just put up any of these tokens to farm these xyz tokens so yeah definitely if you're interested go uh go i guess like um check this out it's not live yet i'm sure it's going to be live soon uh but yeah this is one of our project that i've been following for quite a while for those who don't know this project was actually um the pepe pepe nft project originally but stuff happened around there with the original creator and things like that so the project needed to kind of

reimagine themselves and i was an early contributor so i guess just to disclose here that i'll i'm part of this contributors og section here so i'll be getting air drops from tokens from this but i think that the project is really cool it's backed up by a lot of people in the ecosystem that i highly respect um and that know what they're doing when it comes to this sort of stuff and how to build um products and i really do think that uh nfts right now in a little bit of a bear market but that doesn't mean that they're going away or going to you know permanently go away the nft kind of design space is still um huge and there's still much left to develop and to explore here so i'm very very excited to see how uh universe handles all of this and

what they build here so stani is out there teasing ave pro for institutions again here so he basically put out a screenshot of basically uh and then captioned it with arbeit pro for institutions which led to a bit of mixed feelings i think and i spoke about this the first time steiner um kind of teased this on twitter where people are worried that this is going to invite unnecessary kind of regulations and kind of like kyc aml into the ecosystem and some people are actually saying that we shouldn't be building this stuff which i actually think is quite insane like i don't believe in policing people about what they should or shouldn't build the fact that this is a permissionless platform and you can build whatever you

want is what you just have to deal with you cannot say to someone oh you shouldn't be building this because of x y and z well i mean yes okay maybe if it's a scam you should be telling people well you're building this and it's a scam like we're going to denounce you right but this isn't a scam like this is just an rv liquidity kind of market for institutions who who aren't able to play in the normal default markets like because they're just bound by regulations they can't do it like it's impossible for them to do it so instead of them having to struggle and not adopt this technology at all why not help them on board to this technology and do that in a controlled ecosystem that they are allowed to essentially experiment in and play around in while having the safety uh that that they that they need

essentially you know this is like i guess a special economic zone for institutions where you know defy and the wider ethereum open space is kind of like the normal economy but then you have like these little pockets where institutions can play in to get comfortable with this sort of stuff then they can hopefully move on to the more public stuff here which i think they will i don't think they're going to be stuck doing these kind of like um you know private liquidity pools and stuff like that forever i do believe that they're going to transition to the public stuff because there's just more opportunity there and it's more kind of like credibly neutral as i've discussed before so yeah but there's lots of discussions i guess in the comments about this and about people's concerns and things like that and about uh you know how this is i mean

not even just in the comments but in the quote tweets as well and about how this is potentially going against what d5 stands for and people shouldn't be supporting this i don't know i take the other side of this like you can support this while simultaneously thinking that kyc and aml are ridiculous which i do think they are and you know believing that we should all be able to go bankless and there shouldn't be any of this sort of stuff and anyone should be able to access this but at the end of the day the institutions themselves would have built this stuff you know um on their own if they weren't going to tap into these other things it would take them longer but they would eventually build it so why not kind of like use the trojan horse of these kind of private institutional pools

to kind of like um defy pill these institutions and get them playing in the public markets and i can't you know think of a better team than arveir to kind of be on boarding them here and to doing that because ave definitely believes in uh you know a truly decentralized financial future so yeah really really uh awesome to see this playing out here and i think the the you know the the concerns around this are definitely overblown at the end of the day so a coindesk uh i guess not coindesk zappa announced that they have raised a 15 million dollar series a here and coindesk obviously covered it um framework ventures led the round and i discussed framework ventures yesterday and about how they how they raised a new 100 million dollar round

um but essentially there was participation from people like mark cuban as well which is really really cool to see and ashton kutcher which was a bit random uh that was uh funny to see as well but you know some celebrities on board with this uh with this round here um and this follows their seed round that they completed in november of 2020 which i actually participated in so just the disclosure there but i mean we all know and love zappa right this is uh i mean i use zap every single day uh it is the best tool for in my opinion for tracking you know all of your assets where they all are um you know best tool for kind of they've got these things called zaps where you can get into and out of uh different positions within d5 and there's a bunch of other features

that they've got now like they let you bridge your liquidity over to other networks i mean they're building so much behind the scenes as well they've been teasing a mobile wallet app for quite a while which i which i think will be uh i i uh ready eventually or sorry ready ready sooner rather than later but yeah really great to see this i guess congrats to them for this raise uh and their previous you know investors during this seed were also big names including coinbase ventures and and coin fund and kane from uh synthetics and and parify and scala i mean you know you would have seen a lot of these names around there so really really really cool to to see this and um you know i 50 million dollars is a lot they're going to be building out expanding the team i'm sure

and i can't wait to see what they uh get up to over the next coming over the coming months so last up we i have this question here and i didn't answer this on twitter because i wanted to answer it on the refuel because i believe that some of you may have gotten confused about this but it was a question from nacion here he basically asked um on yesterday on the review i said that other chains want to take business away from eth because their token increases in value with adoption um unlike polygon but why wouldn't polygon have the same incentives now i want to clarify this and say that i didn't mean to imply that on polygon or mathematic token is unlike this but what i did want to kind of like i talk about is how i

believe that the manic token going up in value does not take away from eth going up in value and you this is actually a wider discussion so maybe i'll take a step back here and talk about things that uh because this is this is a discussion that i see typically play out in the ecosystem a lot and it played out a lot last year where people said well if you know d5 is a matt a dr a massive driver of its value or ethereum network's value then you know you may as well just buy um defy tokens and not buy eight this was a popular narrative last year and that was obviously wrong right um but the reason why this was popular is because people believed that you could just speculate on the application layer and leave it and leave the protocol layer and they didn't understand the value

drivers for each now i'm not going to rehash the value drivers i've talked about that a lot right the tl dr is that its value comes from one five five nine staking and trusses collateral in d5 and its uses money within kind of like ecosystems like nfts um but but but that was like a popular talking point right and that and and what this all comes back to is you know if one token price is going up does that affect another token price well you could make the argument that if someone puts a thousand dollars into matic right that's a thousand dollars that didn't go into eth but i don't view it like that markets don't work like that people don't just own one asset i do think that people can own multiple assets and i do think that it's all additive at the end of the day

i think that polygon has a ton of value to ethereum both from being socially and politically aligned but also technically aligned um you know polygon as i've discussed before that the pos chain actually pays ethereum gas fees because all the staking logic lives on ethereum and it commits itself to ethereum periodically as well so and and and my comments around other chains and why they are competitive uh it wasn't just around their token being competitive to to eth but it was also around how they approach it these other chains want to take value away from each right they openly they're open about this they want to make sure that their token becomes the centerpiece of their ecosystem um or as they wouldn't have a token

you've seen this play out with bsc where they want b and b to be the centerpiece right they have uh b and b for fees on on bsc and they're not going to change that now i know polygon has medic tokens for fees on on on the polygon pos chain but the mat the team has signaled that they they have plans to integrate ether as a fee token as well um and i know the team personally they're all massive eighth balls they hold um you know lots of ether and all that good stuff as well whereas i think a lot of these other competitor teams don't i think they hold their their tokens like whether it be solana they hold seoul you know i know that the eos um people they sold all their eat from the ico they bought bitcoin with it so now they

have btc and eos they definitely don't care about eth going out in value and they don't want it to go up in value and then all the other ecosystems as well so you know not everyone is going to not going to be of someone who doesn't hold any eath but i think that at the end of the day you know there's enough money to go around and i think the markets don't work as simply as if a thousand dollars goes into this it wouldn't it didn't go into this that means like you know this took money away from this because you could say that if a thousand dollars goes into eth that means a thousand dollars didn't go into like the thousands of other cryptocurrencies and that would be true too but i think that's the wrong framing here and i yeah as i said i didn't mean

to imply that um uh the the kind of other chains uh don't take sorry that polygon takes business away from from eth if it's token goes up in value whatever or whatever like that i think that polygon being as aligned as it is with ethereum is just very good for ethereum and net positive for for the value of ethereum you know even though uh you know there's a lot of debate right now about polygon the pos chain and it not being like a quote-unquote true layer two and it being more like a side chain or a commit chain i mean i get all those comments but at the end of the day to me it's more about the the kind of social and political side of it and the technology side evolves over time and things like that so i don't think that uh uh that the

polygon um you know ecosystem has the same incentives as the other ones i think that polygon automatic network has always been an ethereum scaling solution they've always positioned themselves as that they have never tried to be anything but that and if you think the other layer to or the other scalability solutions whether they be layered who are otherwise aren't going to issue their own token then you're fooling yourself they're all going to have a token right whatever that token is for is up to them but i'm telling you right now starkware's going to have a token arbitram optimism zk sync i don't have any inside information here i don't know if they will for sure but i'm telling you that i believe they will because at the end of the day tokens act as a way to a very good way to obviously coordinate capital right if whether it

be a dow uh do do kind of governance things act as like staking tokens as well because to decentralize layer twos you need to incentivize people to run the nodes and to do that you need to kind of like have some monetary reward at least to bootstrap it and obviously it's it's a way for the team and investors to kind of like uh monetize the protocol as well um and things like that but i do believe these layer twos are just going to keep ethers the fee token at the end of the day because it actually makes more sense for them to do that because these layer twos have to collect uh a small fee anyway so they can pay the fees to layer one so essentially that each just gets burned or whatever so yeah from that perspective i think that if you're talking about you know if

you know what tokens are parasitic to whatever other tokens because someone invest in that instead of buying that i don't think that's just the right framework to look at these things and it goes a lot deeper than what i have time to discuss today you could do like you know case studies on this and research into this but i think the proof is in the markets has the adoption of um you know d5 and d5 tokens has the adoption of other kind of um networks like you know even bsc with the in the value of b and b going up and and kind of like polygon like a side chain or whatever going up and stuff like that has that taken away from the value of eth i would say it hasn't i mean eth went to four thousand four hundred dollars yes it's come down because the

whole market sold off but i would say that the value of eth has it has its own value drivers and the matic token has its own value drivers and all the other tokens have their own value drivers and it depends on you know how many how much people value this and i think that people can all own multiple tokens right you know i think that most people hold a lot of their portfolio in eth then they might speculate on default tokens because there's more risk there and they might speculate and buy other tokens like layer 2 tokens or whatever at the end of the day as well so hopefully that answers your question nasion i will actually link this to to him um i linked the video to him because i didn't actually reply here um but i just figured it was important to clarify my comments on

on the refill so yeah i'll leave it at that uh that's it for today's episode so thank you everyone everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone