Coinbase supports Polygon, EulerDAO now live & more - The Daily Gwei Refuel #393 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delegate refuel where i kept the latest news in the ethereum ecosystem i'm your host anthony sosano and today's the 24th of june 2022 all right everyone let's get into it so i put out a tweet today where i basically just said i'm bullish on the bear market i actually put this out yesterday technically my time and this was something that i said on the bankless weekly rollup that i did with david i was filling in uh for ryan there so you can go watch that it's actually live on the bankless youtube channel right now but you know david kind of like asked me what i was most excited about what i'm most kind of like bullish on uh and it's the bear market really i love bear markets like honestly i mean i know that uh it's easy for me to say that and i

know that it's different for people who may have like bought the top right of the bull market and they're like oh my god like the prices have come down so much but it's not so much about the the prices um it's more about kind of just like there's like there's there's much more signal in in a bear market than there is in a bull market it's much calmer there's much less noise and you can basically get a lot more stuff done you can focus on a lot of other things uh so for me personally it's just been very very refreshing not to have to go on twitter every day and see just absolute crap being shield by everyone everyone kind of like getting getting uh kind of like shield on these random coins like the dog tokens and things like that obviously we've had a

bit of drama over the last couple months with the markets coming down and also with the contagion of some of these funds blowing up and celsius and things like that but i think that that sort of stuff is is fine like that's not the sort of stuff that i kind of get annoyed about i just get annoyed like especially in the second half of last year what really annoyed me was seeing like all these alt l1 shields just come out of the woodwork and you could tell they were all first cyclers and they're all saying like their favorite chain would kill ethereum and i'm like oh my god here we go again like i heard all of this in 2017 but now obviously in uh 2022 or 2021 i have a much bigger audience much bigger online presence so it's just kind of like annoying for me so that's what i mean by

like the bear market being quieter better people are kind of like here for the tech like most people are here for the tech and you can get a lot more stuff done as well so i think i'm bullish on the bear mark and i bullish on everything that's going to come out of the bear market like last bear market basically we had defy come out of it which was which was huge right and there's a bunch of different things happening within the ecosystem today there's still a lot of stuff happening actually across some crypto gaming and i've talked about crypto gaming quite a bit but i'm seeing stuff come out of that eco system especially in the immutable x ecosystem that i'm starting to really like uh from a game perspective and i'm starting to like the look of i don't really have any kind of like comments about the the

tokenomics of these games or like the nfts attached to it but the actual games are starting to look really cool now don't get me wrong like making a cool game these days is not actually that hard you know developers can use the unreal engine and you know indie developers can actually make aaa quality games uh in terms of like looks right whether it's a good game or not it's not another thing entirely but i'm at least liking the look of these sorts of things i'm liking the progress that they're making and it's really cool to see some kind of like crypto native games actually continue to be developed and actually continue to to kind of like um do marketing around it and kind of like have their community support that as well but there's other things too right like the layer tweaker system obviously is a big one that i pay a lot of

attention to and the core protocol on ethereum as well uh but i think when it comes to the core protocol we i don't like some people were saying oh well now that's a bear market the ethereum core devs don't have as much pressure to launch the merge or to ship the merge and ship other upgrades and i'm like no i don't think that's the right way to think about it i think that the pressure that especially around timing should be the same whether it's a bull or bear market i think that shipping needs to probably in the ethereum core protocol world i think shipping maybe it needs to be a bit faster there i think at this point you know the merge i don't think like i think i've given this opinion before where maybe i have not on the refill but on the discord

channel where i said that i don't think we should be holding up the merge or at least kind of like going slower on the merge because maybe 10 of the network has issues during the test nets like i honestly think that we should uh focus on execution layer client diversity post merge when there's a lot less pressure to ship these things and we just need to get the merge out of the way because the merge is those that foundation that we need in order to ship all these massive upgrades we have coming such as proto dang sharding which is going to obviously be very beneficial to layer twos and that's the value end users will get out of the core protocol updates the merge itself as i've explained plenty of times has really no effect on on pretty much like all end users what has an

effect is what comes after that so i really hope we can move faster then i hope it doesn't slow down just because it's a bear market i don't think it has i haven't seen any indication that it has but i've seen some people calling for this whether that be ironically or truthfully you know i'm not totally sure but for anyone calling for this truthfully i don't think it's the right way to go about it i think that things should be shipped when they when they're kind of like ready and they should be shipped as fast as possible and as safely as possible of course regardless of market condition doesn't matter if it's a bull or bear market you know the funny thing is we shipped the beacon chain or at least we got the bulk of the work of the beacon chain done pretty much all of it done in the bear market

and we shipped the beacon chain when eth was only at six hundred dollars like obviously eth had um had come up a lot from its hundred dollars that it was at uh in in march of that year but at the same time like you could still consider it it kind of like pretty far away from all-time high uh pretty uh pretty depressed still from where we were but i i think that we did we can just do the merge like do the merge now like if eighth is that one k when we do the merge i mean not now obviously but when we do the merge who cares right we're laying the foundations and then over time that'll get priced in along with all the other upgrades that we have coming but it's not even about things getting priced in i want to see proto dank

sharding live because i want to see layer 2's uh kind of benefit from subset transaction fees because i for me what i don't know if scares me is the right word but my my main concern is that we take too long to ship something like proto dang sharding the layer twos aren't as cheap as they can be and then we have another bull market we have another influx of users and we just have to deal with the same fight again around kind of like you know ethereum's too expensive roll-up's too expensive ethereum is a scam ball but all these sorts of stuff right i don't want to have to deal with that again so i'm all for getting these stuff kind of like shipped faster and out there and i i'm quite confident we will like i as i've said before i don't think that the merge is um happening um

in august but i'm pretty sure it's going to happen in september still nothing's changed there isn't all called debs call today i believe so we might get some more kind of like insight out of that and obviously the next public test nets coming up but in terms of uh shipping speed yeah bull or bad should be this kind of like uh same speed there so though yeah those are kind of like the reasons why i'm bullish on the bear market or at least the the main reasons obviously i'm also bullish because i get to buy eighth at kind of like cheaper prices again that's obviously a thing that i think a lot of people are doing right now but when it comes to just general bullishness it's a lot less to do with the price and more to do with the fundamental side of things and honestly

just being able to settle into like a comfy bear market maybe it lasts a year right from from here maybe we can just settle in without all this noise we can focus on what matters and we can actually just have like a really nice ecosystem and a really calm ecosystem before the craziness begins again because i'll be honest like i was talking to a friend about this uh i obviously experienced all the 2018 2019 bear market it was pretty brutal but it was calm and it was kind of like it was easy for for people to kind of like get stuff done and it was quiet and obviously i really enjoyed the bull market of 2020 i enjoyed defy summer i i enjoyed the bull market right up until i think feb or march 2021 and that's when i started getting really burnt out on it

because that's when dogecoin started pumping that's we had a massive influx of all these new people that that kind of came in all this noise it was craziness and you know at that point for me i just became super exhausted by it and then pretty much the remainder of 21 was the same i was just like okay well this is just super exhausting obviously remained bullish on ether doesn't change but i was just really exhausted by it so now we get to recharge our batteries a bit in this bear market and set ourselves up for another bull market because it's always going to happen in cycles like this at least for the foreseeable future uh but yeah hopefully we can get we can kind of like have a better ethereum for people to use next time we get a massive influx of users that is definitely going to rely on

something like you know proto dang sharding being implemented which can only happen after the merge so you know the merge at this point as bullish as i am on it and as as monumental as an achievement it is it's kind of this thing that we need to just get out of the way so we can actually focus on all that other stuff that i've spoken about before but anyway i'm gonna leave it at that all right next up on the agenda we have another tweet that i kind of like put out today where i said stop blaming centralized companies for adhering to nation state regulations they don't have a choice in the matter if you want these regulations to change then you can change them by educating representatives and voting for the ones who are friendly to crypto uh and on top of this you can

also just use dfi applications but let me give some context here so coinbase in the eu there's a new law that's coming into place on monday i believe in the eu they require centralized exchanges to uh i guess basically ask their users for proof that they own and address that they're withdrawing crypto to now i think there was a few months ago some of these kind of like regulation floating around and people kind of like looking at it and saying okay well you know this is probably going to going to be implemented at some point but we didn't know when well apparently in the eu it's being implemented on on monday i think from my reading which is obviously not fun but i think it's a bit of regulation theater because the exchanges already know what address that you kind of i guess send the funds to but i think

this might just be step one of the tightening here and the regulations that we're going to be seeing you you can imagine a world where if your address that you're depositing into a centralized exchange has um interacted with uh any kind of thing that the centralized exchange or the government considers to be shady and the word shady is up for interpretation here then they may bar that from from kind of like happening or they may freeze your funds same on the withdrawal side like if you're withdrawing to an address that is interacted with something like tornado cash maybe the exchange will say well no you can't withdraw here there are ways to get around this i guess but still these aren't good regulations and i've told you guys this this this kind of stuff's coming unfortunately so uh you know and and i really hope

that if they it can get walked back or can get improved i really hope that just kind of like stops where it is because i mean i don't think it's a huge deal that you have to give extra information to them to prove that you own the address because they already have all your information right you're already kyc with them and at this and at the same time uh they already know your address right it's just making their lives easier because they now have new reporting obligations but if it goes beyond that and as i explained if it goes to the point where i just kind of like outline what can happen that's where it gets a lot worse and a lot more scary but again like this is the reason why we're building decentralized tools this is the reason why we're trying to kind of like uh i guess disrupt

decentralized exchanges and make them irrelevant but the thing is is that it's kind of impossible to build a decentralized exchange for a fiat on ramp like and if you try to you're just gonna get shut down really really quickly uh by by the relevant authorities here and again as i said in my tweet don't blame coinbase or you know any of these other centralized exchanges for just following the law like that's that's it's not fair i don't think because it's not like coinbase is doing this because they want to do this they're doing it because they're legally required to do it i'm sure coinbase would love to not have to do any of this sort of stuff because it would mean that they could bring their costs down because compliance costs a lot right they have a lot of lawyers on board they have a lot of um

people that that need to say these regulations they need to enforce them a lot of compliance people and that all adds up i'm sure coinbase would love to not have to worry about this but they do and they're legally obligated to do this and if they don't they can suffer from massive fines you know potentially jail time for executives things like that it depends how far how far it goes but you know you get my kind of like idea there so don't blame them blame the politicians vote for better politicians depending where you are vote for the ones that are friendly to crypto that's the only way you can change this in a democratic system obviously if it's not a democratic system it's it's probably going to be a lot harder to change but you know if you have faith in your country's democratic process well then

you should be voting for representatives that are friendly to crypto and they will push a crypto friendly regulation legislation through in whatever i guess like if you have a house or a senate or whatever it is or a parliament or something like that whatever it is in the country that you're in uh that's the way to kind of like change it here so yeah just wanted to kind of like make a note on that one all right so just a reminder here if you haven't upgraded your ethereum execution layer nodes uh you have around five days to do so before the gray glacier hard fork goes through now uh marios here shared a pie chart you can kind of actually look at yourself at ethernodes.org this shows how many clients are upgraded right now to the grey glacier fork when he screenshotted this it was uh 32 were

ready but actually i checked it just today and now 48 are ready so still half the network that's not ready but typically what we see is that most people upgrade within 24 hours of the hard fork and then there might be like 15 or 20 of the network that these stragglers and then they kind of like get kicked off and they realize that their node falls over they're like oh crap i got to upgrade so they go ahead and upgrade and as i said before the gray glacier hard fork literally all it does is push back the difficulty bomb by about two to three months to give us more time to ship the merge without the block times getting you know really really long due to the difficulty bomb so if you are running an execution layer node go and upgrade it it's a simple

process all the links are available to you on the blog post linked here from marios i'll link in the youtube description below are very simple to do i actually re i actually synced two new nethermine nodes over the past few days such a simple process now and it takes like so much less time because they have these snap sync and fast syncs and things like that which is really really cool so yeah definitely go uh go kind of like upgrade your nodes all right so uh franzi here has shared a i guess like a blog po blog post forum post on the devcon forum about where people would like to see devcon 7. so people like can submit location suggestions here for next year's devcon this year's devcon obviously has already decided on it is going to be happening in bogota in colombia

that's defcon 6. unfortunately i don't think i'm going to be able to make it to that uh i would love to be able to make it to to devcon but i don't think i'll be able to because defcon is i believe the biggest it's definitely the biggest eighth conference of the year but i believe it's the biggest just crypto conference of of the year and i'm i'm curious to see how big devcon 6 is because it's the first devcon since 2019 um but yeah i don't think i'm going to be able to make it there it's in october but anyway regardless of that devcon 7 there's already been a bunch of uh locations kind of like put forward one of the popular ones is uh belgrave i think belgrave uh yeah belgrade sorry belgrave belgrave's a place in victoria and where i live belgrade in serbia so this has

been put forward by a bunch of people uh it's kind of looking like the fan favorite right now but yeah you can put forward your own i guess suggestion on this forum and there's kind of like a bunch of criteria you need to follow i guess you can see the one here from afri who put forward belgrade in in serbia it's kind of like you know what what's what's like the entry for this country like like is it easy for people to enter what's the safety like what's the weather like what you know what's the city like what are the venues like blah blah and it seems serbia definitely ticks all the all the boxes that we would like to see and i personally love to to visit serbia but i'm sure there'll be other locations that kind of get put forward here i'm not expecting anyone to suggest

australia unfortunately i mean i would i would say let's have it in melbourne that'd be really awesome because i think melbourne is probably the perfect location for it but the only thing that lets melbourne down is how far it is from everywhere else right like it's super far from europe and the us and that automatically kills most of the the ethereum community off like obviously asia's closer but still not that close i mean i think the flight from from singapore to australia is still maybe 11 hours or something like that so it's not exactly close and then you've got the time zone difference and all that sort of stuff so i'm not expecting a devcon to happen or any major ethereum conference to happen in australia unfortunately but i'm willing to travel i'll go i'll go to serbia for for um for a devcon but yeah if you want to

suggest the location definitely do so in the forum here i'll link it in the description below all right so coinbase announced today that they are well at least over the next month going to be allowing eligible coinbase customers to send and receive ethmatic and usdc on the polygon pos chain uh and usdc on solana here so it's really cool to see them supporting polygon here um they obviously said a while ago that they want to support the polygon post chain that was going to be the first ethereum scaling solution that they support but they also want to support layer two so i'm hoping that you know optimism arbitrary and all these other layer twos are what's coming next here because i think coinbase promised this maybe a year ago at this point or maybe maybe a little bit less than a year but

it's been a while so the fact that it's taking them this long like come on guys let's let's do it right stop listing coins and and more l2 integrations i want to see that but yeah credit where it's due i'm glad that they have supported polygons pos chain here hoping to see them support uh arbitrarium and kind of like uh optimism and other and other layer two networks i think the important point here is that these exchanges they don't have to support these networks for every single asset like just supporting the native asset of the network and like a stable coin is fine because i mean even just supporting ether would be fine like just being able to withdraw each from coinbase to you know arbitrary optimism polygon pos chain and then on those networks you can just swap that for whatever you want to stop it for

would be really really simple to do like i i i don't see why they have to support everything and you know it's a lot less overhead for them a lot less liquidity concerns for them so i don't think they're going to be supporting most tokens i think they're just going to be supporting the major ones like heath the native token such as matic or op and a stable coin i'm hoping they support more than just usdc obviously they're supporting usdc because they have a large stake in it but i'd like them to support at least die as well uh that would be really cool to see uh but yeah it's still cool to see them supporting polygon hopefully other layer twos or um additional kind of like ethereum scaling solutions are coming sooner rather than later all right so john here shared an announcement today where he said major

announcement a european nation is embracing public ethereum the norwegian government just announced that they are releasing a solution on public ethereum a cap tables platform for unlisted companies now this platform will actually be on arbitrary not on ethereum layer 1 which is very very cool so obviously arbitram is faster and cheaper to transact with um as kind of like john notia and i guess like the norwegian government will be using a bunch of different solutions here such as the 1400 standard uh they'll be using ceramic uh the ceramic network for personal data which is cool to see because obviously the eu privacy regulation gdpr uh dictates a right to be forgotten uh and for legacy and back end for legacy back end and web 2

developers to be able to understand and use the platform and sdk is also available this is cool i like the fact that the norwegian government is for looking here i love the fact that they're using arbitram like instead of just the theorem layer 1 obviously that would be too expensive for them but the fact that they're using a layer 2 is really bullish in my eyes so really cool to see this hopefully we get more information about this and kind of like see more activity on the chain or like how this is going to uh kind of play out here but really really cool uh and i guess like uh congrats to the norwegian government and being progressive enough to use an ethereum layer too i think maybe this is a first a government using an ethereum layer too i'm not totally sure on that one but

it's definitely one of the first all right so joseph de long here had a really funny tweet where he's it's like a tweet thread he started it by saying the dao run lemonade stand little jimmy is pouring glasses of lemonade for 50 cents each which costs him 10 cents in materials meanwhile there are 1 000 lemonade stand token holders crowded around the lemonade stand typing how to run the lemonade stand into the discord and then he continues to throw with a bunch of different examples that you may have seen if you've been in any kind of like dao before and essentially what what joe delong is saying here is that dowsers they exist today at least the majority of them are really right because the fact that you have people like a like a person or a team trying to run a protocol trying to do

something and then you have all these token holders like thousands of them in the discord channel yelling at the team to do things to drive value to the token because the token you know probably went down in value especially during a bear market is just not a way to do doubt it is not a way to do governance it is noisy there's zero like basically zero signal in it and it's super annoying for the developers themselves uh and joe dylan gives a bunch of different kind of like examples here of what people would ask for uh you know a discord vip user says that little jimmy should take the 40 cent profit uh from each cup of lemonade salt and use it to buy four fifths of uh a cup of lemonade this will surely keep lemonade off the market and create a lemonade sink to drive up the value of

lemonade next before any lemonade is sold a genius foreign poster named xerox krypton suggests that little jimmy launched his lemonade's then on his friend's sidewalk across town so this is obviously saying launch your i guess app on another chain right um xerox krypton says he only uh has to use different cups switch the chocolate milk and drive 45 min to a sidewalk where there is no foot traffic but xerox krypton will pay him 50 in krypton the token to move xerox krypton thinks this will bring foot traffic to his sidewalk again referencing the liquidity mining programs and incentives for people to move to other chains and joe continues in this thread you can give it a read it's a pretty funny thread here and then i basically said a comment no yes but when binance right people are always asked that in the discord channel

as well but this is kind of like a very tongue-in-cheek way i was just showing how broken current dow governance is and how it really does need to change like there doesn't need to be a thousand people kind of like talking about every little decision and a thousand people yelling at the developers to do something to drive value to the token literally saying you know can debs do something is just broken like could you imagine uh thousands of apple shareholders berating apple in kind of like their community like slack or in the kind of like employee slack about the apple token price going it took a price share price going down right and the apple kind of like debs have to do something that doesn't happen there's a layout there's a separation layer there where the big apple shareholders can definitely uh i

guess like get in contact with the executives right and kind of like talk to them especially if there's a there's like a structural issue that they see and they can give feedback and things like that but it's not like just any kind of person who owns a few shares in apple can jump into the apple slack channel whatever they use for internal chat and yell at all the devs to drive more value to the apple share the surprise so we shouldn't be doing this in in crypto like at all so i think that discords can exist you know you can do a decentralized kind of like a governance approach but at the end of the day i think teams have to be more aggressive with how they manage these sorts of things if if someone is in the discord channel all they're doing is talking about driving value to the token

and doing this then coming up with crazy ideas put them in a corner let them talk to themselves and the devs should be able to like not ignore those people but like let those people talk amongst themselves and just focus on the you know something that's at least important and that actually makes sense rather than these esoteric ideas and i know some people will say oh that goes against the ideals of decentralization we can't do that we're trying to build decentralized finance and and decentralize uh organizations here it's like guys like i get it i get it and i'm all for it but like especially in early stage kind of like dows and early stage projects you cannot have this happening there it just burns the team out it makes people leave it makes people not want to work on the project anymore and it just literally

achieves absolutely nothing so i don't know go give this thread a read from joe to long i'm curious to hear if you guys agree with me on this you guys have probably been a part of different discords before and seen how it shakes out i certainly have been it is not good i've been a part of some where the token price has come down 90 over time and it turns into such a toxic mess that literally doesn't have anything to do with the product or the community or the project anymore all it's got to do with is saving the bag holders which is not going to happen right like the devs most of the time can't do anything to pump the token if the project's not it doesn't have product market fit so how about you know making the product good making the product better making people

actually want to use the product rather than trying to pump the token with all these kind of like esoteric ideas that would be a better idea right but i think a lot of people don't see that because they're underwater on their investment especially if they're down 90 and they're like oh my god i need to make my money back and they're trying to kind of go to the devs and be like make you know you make my money back for me it's like such a mess guys like anyway i'm going to leave it at that i'm actually going to talk about a dow that just launched today funny enough euler dao which is now live so starting today community members can claim any available oil tokens or aul tokens from previous epics select the delegate on the delegates page and participate in the future of decentralized finance

so for those of you who don't know euler finance is a money market on ethereum disclosure i'm an investor in them but they went live today their token is actually now trading as well because of this dow and you do have an airdrop available to claim if you're eligible for it so you can definitely check that out as well there and there's also a medium post here for you to read for more details about everything such as the distribution of the token how the on-chain governance is going to work how to claim all that good stuff there as well so definitely go check this out um and check out kind of like how the distribution is going to work i actually think their distribution schedule is pretty innovative you can see here how they've kind of like planned it out they basically want to do a kind of like you

know start off a bit slowly but then quickly ramp it up and then have like a hump and then kind of like come come down and then taper off i think that's a really nice way to do it i think this is kind of like how bitcoin did it right where from like and for what proof of work networks do from the start is that they kind of like have a lot of the tokens apply just get out there really really quickly just get it out there get the market used to all these these tokens flooding the market and yes it may not be good for short-term price but longer term will be better because at least a lot of the tokens circulating the problem with most tokens today is that most of them aren't circulating and it just leads to years and years worth

of unlocks that lead to years and years worth of cell pressure and the token just can't do anything even if the product's good like you know you know what i mean so yeah anyway i'm not going to talk too much about the token for foil here because as i said i'm an investor so it's a bit of a conflict there of interest um but definitely check them out i'm an investor for a reason i think what they're building is really really cool permissionless money markets uh and especially more innovation in that area is always something that i look out for so really really awesome to see all right so fuel uh fuel labs announced today that they have introduced something called sway swap which they're calling a blazingly fast decentralized exchange running on the fuel devnet fast and easy to use sway swap is a uniswap

style exchange built in sway language and running on the utxo based fuel vm with no contention so fuel uh is another layer two on aetherium you may not have heard of them they've been quiet they've been quiet for a little while uh but they are kind of like launching this sway swap product on devnet so you can kind of um go uh kind of check out this blog post and play around with it if you would like here and check it out on github as well uh and then in the comments nick dodson here from fuel labs has said that there is a public road map for fuel v2 mainnet on its way and you can join the discord as well to kind of like get some alpha there so very cool to see another layer two product live fuel's a bit different oh well very different i think

from other layer twos in the fact that they're using a utxo based model which is bitcoin's kind of like a counting model and funny enough is cardano's accounting model as well but a utxo based model makes sense on kind of like layer two when built correctly and doesn't really make sense on kind of like layer one so i'm curious to see how it fares though with kind of like fuel and how they build it out how they make it work but good to see more innovation happening here very excited to see uh see this and how it evolves all right so zigzag exchange has published i guess like a full breakdown of what their tokenomics looks like and their token distribution looks like today as well as ideo details i'm gonna be honest guys i love zigzag but this distribution is horrendous like

i'm just gonna straight up like treasury fifty seven percent ido two percent team thirty percent insurance fund at ten percent and strategic partners one percent like they didn't even do an air drop here i know that they said they're going to do an air drop um based on what community says and all these sorts of stuff here but holy guys like that's a big team allocation too like 30 no investors here right so maybe they're just kind of like accounting for that um but 30 team is huge and treasury i mean that's just a meme at this point and then two percent in the ido is also a bit like okay right and then no details on the airdrop yeah i don't think this is a great distribution and i don't think uh the investing on the the team tokens is great either it's investing

over only two years and linear vesting too from november 20 starting november 2022 here so i don't know i i feel like team vesting needs to be four to five years minimum honestly guys like i don't think two years is enough uh so yeah i mean as i said i love zig zag i use it all the time like i've been a supporter of them but i'm not gonna just kind of like say that this token distribution is good i'm not gonna sugarcoat it here i think that's actually pretty bad and i think the community agrees with this as well uh you know everyone's saying you know no airdrop and like the unlock start like very very soon uh kind of like um uh this is disappointing to see you know clown emoji gary kenzler picture so people aren't happy with this and i'm sure our resident airdrop expert mzy in

the delegate discord channel is going to absolutely blast this and you know what he's justified for blasting this one because i agree with him this one is not a good distribution i hope they change it i hope they take community feedback on board and take my feedback on board to change this because this is is not going to lead to anything good for them if they want to try and decentralize their protocol out it's not going to lead to good governance it's not going to lead to a good down it's going to lead to basically people not using it because they kind of really especially because they're the early kind of like supporters and users they're gonna really hate this kind of like token distribution here so yeah that's my honest opinion for anyone on the zigzag team that's listening to this like i'm not trying to attack zigzag or attack

you personally or anything like that but you know i this is one of the one of the the worst not the worst one of the um one of the more like what's the word i'm looking for i don't know how to say this i'm kind of like getting jumbled up in my words but this is kind of like definitely not one of the best token distributions that i've seen and i hope that you guys change it like i get giving 30 to the team you don't have investors things like that but give more to the community give like more in an airdrop treasury is a meme like if you're giving 30 to yourselves and you have decentralized governance and you start vesting really really early on you know in november of this year and then you your de facto have control over the treasury anyway like the insurance fund

too strategic partner is one percent id 02 and then like you see what i'm saying here right like the team is going to have most of the control of the treasury anyway so it this doesn't do anything for decentralization of the protocol um but anyway i'm gonna i'm gonna leave it at that because i've been going on about it too much yeah um and i just yeah i just because i love zigzag as a product i don't want them to fail just because i did a shitty token distribution that's why i'm pretty fired up about this so yeah definitely hoping to see something change here and that they listen to their to the community on this one all right finally here just quickly eat the scan has introduced two new features to the etherscan watch list you can now watch erc 721 and erc 1155 token

transfers which are obviously the nft standards for tokens so you can go into the settings of watchlist and track a arc 20 erc 721 and erc 1155 tokens if you'd like to do so just putting that on your radar for anyone who uses that feature but i think that's going to be it for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to newsletter join the discord channel and i'll catch you all tomorrow well not tomorrow actually it's the weekend next week thanks everyone