Building the Financial Layer 1 for Trillions Onchain

Transcript

Hello. Good morning, everyone. Um Yeah, thanks for coming to this stage. It's kind of uh the our first uh keynote in this stage. Yeah, probably uh some some people may not know this stage, but uh yeah, it's time uh time is here, and let's get it started. Um yeah, uh my name is Wish. I'm the uh co-founder and CEO of a Phalaise Network. And uh yeah, let me introduce Phalaise if you uh haven't heard about that. Uh Phalaise is the financial layer one that uh built for trainings of asset and the capital that bringing from web two to the web three.

So, we we are asset relative financial grade layer one for we call the real fight, which means we were going to bring the real yield, real asset, and uh also the real application uh to the web three through uh this uh even compatible high performance layer one. So, the uh the Phalaise is uh is built by uh founded by uh previously uh me and Alex. We are two co-founders. We work in the Alibaba and Alipay company uh to build the blockchain infra uh it's since from the 2017.

It's quite a long time. We built the largest uh consortium blockchain platform uh in the Alibaba and uh Ant Group. And uh at that time, we built a we this uh consortium blockchain has uh onboarding a lot of applications from the ABS, from the uh with the institution and web two companies. And uh also battle tested by the largest NFT marketplace in China at that time. That's uh there are over around 1 billion accounts trying to buy and a clean NFT in on this chain. So, uh at 2024, we come out and started uh Phalaise and uh still focus on the to

building the infrastructures for web two applications when we are when they are going onboarded on the web three. So, uh Phalaise is supported by uh a lot of uh very strong investors and partners. Uh we have uh Lightspeed Venture and a Hack VC uh for the last round. And we also have in the most recent round, we also have a lot of uh uh strategy investors from the web two and public sector company and also the financial institutions.

And uh for for this whole uh design of this layer one, we are building it into a three layer layers and uh to serve the full cycle pipeline for RWA and TradeFi. So, for the off-chain part uh on Phalaise, we have have provided service with uh for the fund managers and uh for credit rating agencies. And all of those regulated and compliance requirement that to issue and to uh and also to trade the RWA on chain.

And at the infrastructure right now, uh Phalaise has uh launched its testnet uh last year uh May. And we have a built the I think it's quite a comprehensive infrastructure and uh should be the most comprehensive infrastructure for RWA and TradeFi in this uh market. We have uh KYC and AML ready. And also recently, we working with a Circle uh to launch a native USDC on Phalaise as well. And uh no no need to say the wallet, the data analysis, and everything you need basically to build on Phalaise and especially you want to build uh the RWA and the related applications on Phalaise.

For protocol wise, and uh we we also have partners to bring in this uh token insurance and also the staking vault infrastructures on Phalaise ready. And uh from the uh from the permissionless uh protocols, and uh we have this uh RWA backed stablecoin and also the uh to provide the yield uh strategies and looping strategy. We're working with a Morpho and other lending protocols and a vault uh uh risk curators to help to build this.

So, what is uh uh unique about the which we mean another layer one. And uh but we think we are beyond another layer one for for for when we're building Phalaise. So, here uh we list the five uh six pillars uh when we're building this we call the financial grade uh layer ones. And uh though uh Phalaise is EVM compatible, but uh uh all those tech stacks are built in-house by ourselves. So, for example, uh we have this DVM. It's a it's a deep parallel dual VM design. Uh it's EVM compatible, but it's beyond EVM because we are providing

another virtual machine is a Wasm, and which can support more high level languages like Rust, like Java, like even C++ to write your smart contract. The design is allowing the the institutions and uh to more seamlessly integrated into their existing system because their system is probably it's definitely not uh written in Solidity. It's written in Java and C++. And uh we're allowing them to build their application seamlessly on the public blockchain uh without any hassle.

And also, we have this uh uh our own uh DB, Phalaise DB. It is solved the uh bottlenecks when we are trying to increase the TPS from traditionally probably 300 to 20K TPS. And uh we are designing a native database ex- exactly uh specific design for the blockchain to solve this bottleneck. And also, we have this we call it a special processing network, SPN design. Basically, you can think it as a uh subnet on the layer one that can be customizable uh uh for any institutional users and also to include the

heterogeneous genius hardware into the subnet. For example, some of the based on our experience when we are talking with some of the financial institutions, they are building the application on layer one. They want to have privacy transactions, and we can include include the ZK hardwares to provide the transaction uh for their use for their clients. But at same time, all the liquidities and tokens are still in the layer one and without any uh fragmentation on the liquidity. And uh Phalaise itself is also uh not only high in TPS, but it has a real-time finality that is achieved by our uh asynchronous BFT algorithm. And it

achieved sub-second uh block time and also sub-second finality. That's really important for uh for the payment uh as a payment network that without any uh rollback and an instant finality for any of the payment settlement. And uh the latest there is also about the the security layer, and we have uh uh we have uh built this uh developer and a secure layer using the co-agent AI design that that uh all thing all you you want to build the application can be achieved by our agent uh uh agent of workflows uh in this TEE

environment. Yeah. So, here is uh a is uh a comparison uh with other layer one uh blockchain. And uh for Phalaise, I think it's currently we thought it's the only only uh blockchain that achieved uh uh on all those aspect aspectives. Uh it's EVM compatible, and it's have this uh consensus, the storage, execution. And uh on all those uh dimensions, uh Phalaise is I think it's also only the only one that can reach 20K TPS in the on the on

the mainnet. So, let's go back to the uh uh DeFi and tokenization. So, Phalaise, we are supporting the RWA tokenization and also compliance DeFi. And also the uh stablecoin issuance and the payment and uh then to the institutional grade uh applications in this layer one. And uh currently, we have a 1.5 billion of RWA pipeline to be to be uh included in this uh in our ecosystem. And later on, I will share some of the uh the partners for the asset wise. But

before that, and uh we are also embracing the AI agent. and uh it's uh we have this uh parallel execution. Uh we call it the Sally. It's smart access as access list interface that can enable high-frequency transaction uh which is designed for the agent payment with micro and high-frequency uh transactions on the chain. And also because uh we achieved the uh 30K TPS with this sub-second finality we are ready to supporting the large-scale production uh strategy in executions on the on the chain as well.

And uh currently we have uh working with a circle and a provided a to implement this X 402 uh uh infra protocols on Phala as well. And uh some of our uh ecosystem already building the large-scale AI agents uh uh marketplace and uh and uh settlement application on Phala already. So, all in all, I think uh uh we are also go through the uh the go beyond the uh work collaboration with uh institutional finance and also embracing the AI agent area as well.

Uh So, uh for the next is uh uh about the since we are we are launching our mainnet soon so what users and I expect the developers can uh can can get from the Phala. I think the firstly the is that uh this high-performance layer one is specifically designed for institutional-grade finance. So, we have this instant settlement and uh payment network can be uh leveraged by all the developers to build the the application for that. And the second is we uh through our SP and other partners we can achieve this privacy-preserving financial application which cannot be

achieved by uh on other blockchains. And if you are interested in building the application for trade five for institutions I think the Phala will be the ideal layer one that uh for developers. And uh and uh also as I was saying we are powered by AI agents infrastructure already uh with X 40 two protocols supported with this native USDC and also there's a high performance. If you are building AI related applications it will uh also uh getting supported by this layer one.

And uh the last one I think is also important because we are building on order base with real yield. So, it's not like uh uh all this liquidity and yield are bringing from the web two to the web three. So, that's more secure and more sustainable if you are building ecosystem and build on those yields. And you we can attract users with real yields and it's more sustainable. It's not about token inflations and uh all the ecosystem could benefit from this uh constantly enlarging uh liquidity pools on the Phala.

So, as I said we are going to launch the mainnet uh next month and on the testnet we will will already draw uh draw a lot of attention. So, we have uh over 200 million unique address on the testnet. And uh also uh around I think now it's over 3 million authentic users are interacting with our testnet and participating in our community events. So, here are some of the highlight of our ecosystem and uh was not we are not only strong on the infrastructure level to provide the full-fledged uh uh infrastructure uh for all the applications and builders. We are also

working with very strong uh partners on the order base sectors and uh for example uh we are working with the Centrifuge where with uh uh some of the other asset issuers in the also in uh states and in Hong Kong to provide this uh the most premium asset uh can be builded on Phala. We are also working with a lot of the vault infrastructure uh lending protocol and uh like Morpho and uh also the curators to help to build the ecosystem and also the yield strategies on chain.

Yeah. So, for last month we launched the our incubator program uh with uh partners from uh Draper's factions and Hack and Centrifuge. So, this incubators is uh focused on helping the project that can be natively build on Phala. We are providing uh not only the funding and uh the capital resources but also on the go-to-market on the on all our racing networks and also on the technical support anything they want and uh especially if they are building the uh real fine auto refine ecosystem we can can get the most uh I think currently is the most uh uh

uh highest level of compliance legal support from us as well. So, and we we have put it the QR code here if uh there are builders in this uh in Savannah we would welcome you uh apply for this incubators. Yeah. So, for Phala in the in this year so we will definitely be the top uh top one top layer one in the APAC area and uh we are expanding our institutional partners globally and uh and also we want to be the hub before all of the those compliant stablecoin issuance starting from the USDC.

Yeah. I think that's all for uh for my uh keynote and uh we I I will be great appreciated if you can uh scan our uh to follow our Twitter and social media. Thank you. I think there are still three minutes if you have any questions I happy to answer. Thank you. If there's no questions I think uh I will uh I can move on for the next.

Yeah. Thank you.