Core Dev updates, Arbitrum and Robinhood team up - The Daily Gwei Refuel #740 - Ethereum Updates

Transcript

hello everyone welcome to another episode of the delway refuel whereing C latest news in ethereum ecosystem I'm your host Dan the 1st of March 2024 right everyone let's get into it so kicking off today's episode we have some core Dev updates now I've got a tweet here from Christine Kim summarizing the latest allcore devs call uh with a few reminders about denune obviously that's going live uh on March March 13th here less than two weeks away so if you are someone who operates nodes on the ethereum network whether that be a just a full node or a full node with validators be sure to update all of your clients and also update your me boost software if you use me boost which obviously the vast majority of the network does uh because yeah I mean I think people typically forget to update me boost and if you don't uh update it

and then you come up and you're going to propose a block you'll miss that block uh because you obviously haven't updated your software so yeah definitely don't forget to do that uh there were a few discussions around pectra uh and the eips that are going to be included within it uh as you guys know there are a lot of eips currently slated for consideration not for inclusion within Petra uh and as Christine says here lots of eips were discussed on today's ORD Dev call for inclusion in Petra but there was little consensus on any of them most will be brought back for discussion on a future call and the most controversial Petra eips discussed on today's call were related to account abstraction devs debated the merits of EIP 372 versus 5806 uh there was no clear consensus on either and then a

bunch of other kind of things that I'll link in the YouTube description below uh for to kind of check out there but I think the real kind of highlight here is the fact that I I think you know the the C devs have said or at least a few of them have said they wanted to Target like November for Petra right I honestly don't think that's going to happen I think it's going to be like q1 2025 I I I I just don't see it happening by November um I know November is still quite a while away but there are so many eips that are up for inclusion uh and basically none of them have really been kind of like concretely said okay we're including this right there are some of them that have better chances than others as I've discussed before but there's been none where all the core

devs are basically like yep 100% we going we want to include this and that's that so until that starts kind of happening no real movement can be made here right the client teams can't really do much uh because they're not they're not going to build out an EIP or they're not going to implement one that's not going to get included in in Petra maybe they maybe they have time to do it I don't know but like they're obviously going to prioritize the ones that are going to go into Petra uh and as you guys know when it comes to timelines you know you're always going to add like a few months to the to the slated timeline here so I could see this going live pectra going live probably more likely in q1 2025 rather than uh in November or by the end of this year and as you guys

know December is basically a no-o zone for upgrades because it's the holiday period January to an extent as well at least the first half of January so that gives us a similar timeline to to Denon and you know I I don't think that's necessarily kind of like a negative or a bad thing either especially because as I said there are a lot of eips that are probably going to get included within Petra uh and that means that we'll have like a bigger than usual upgr upgade which would be nice now as I said we don't know which ones exactly going to be included there are a bunch of different candidates I'm hoping that the max effective balance EIP gets included like I really am a huge advocate for that I mean the two aips is that one I think it's 7512 I don't remember the

numbers off the top of my head and then the uh inclusion lists one as well like those are the two top eips that I want to see included in Petra I know there are a bunch of others that people want to see included as well but they're my two picks and if we only get one of those I mean I'll still be happy if we get none of those I'll be sad obviously but getting both of those would be like the the dream for me especially the max I actually want the max effective balance increase more than the inclusion lists thing even though as you guys know I'm really big on censorship resistance and I think it is basically the whole point of what we're building but Max the max effective balance stuff has some really great properties at least for the short to medium term uh that allows us

to kind of scale up the network even further and going into a bull market I think scalability should be taking priority obviously over everything else but it just depends you know it depends on on the complexities it depends what the teams and the core de core devs and researchers feel about this so I'll keep you guys updated on that but if you want to see the full write up or the full tweet I'll link this in the YouTube description below for you to do so all right speaking of core Dev updates Josh Rudolph has another update on the verge today so this week's agenda included client team updates vericle Shadow Fork test net updates code packaging in veral and EIP 2935 so updates on all of that will be in this tweet which I'll link in the YouTube description below as you guys know the Verge is basically the

next big thing uh within within ethereum or at least like one of the major focuses going forward especially into 20125 we're really trying to get this over the line because it has so many positive benefits for the network overall especially when it comes to scaling the layer one like that's what a lot of people don't understand is that once we get these um kind of upgrades in vericle tre statelessness State expiry we can actually start to materially increase the scale of of L1 for L1 not just L1 for L2 right which is is you know obviously fine and we're doing that and and and we've been doing that with things like IP 4844 and dank sharding and all that sorts of stuff but the actual L1 itself can be scaled even further because I know you know I always say that L1 you know over the longer per

over the longer periods of time is going to be basically reserved for layer 2 settling their value there for Wales it's not really going to be the end user chain and I think that that that that I still obviously believe that view and I still still think that's going to happen but I think that even in that world you still want to make it as scalable as possible Right you still want to make the L1 uh as scalable as you can without sacrificing the properties that we care about which is obviously decentralization resiliency Reliant you know sensorship resistance all the good stuff that we get by effectively limiting the L1 uh but that doesn't mean that we shouldn't scale it when we can safely and that's exactly what we're trying to do with uh with things like The Verge uh we're trying to make it so

that we can scale it safely and really the material impact would be increasing the gas limit which is effectively ethereum's block size I've talked about this before uh and the the fun thing is is that I mean I'm just putting numbers to this from my understanding please don't quotee me on these numbers but I've seen estimates of like 100x or or more increase to the gas limit and and Bas once all these upgrades are go go into the network here and as I said don't quote me on that it could be less it could be more than that but like let's just say it's 100x that's 100x the gas limit today uh whatever you know what what the g whatever the gas limit is today Times by 100 and then the layer one and that's on layer one which is obviously used by both layer 2os and by

um by just regular everyday transactions um but that would be more so kind of like for the maybe the non- blob transactions cuz obviously Leo 2s or rollups are going to be using blobs going forward but I think what a lot of people maybe skip over is that layer 2s aren't just or rollups aren't just kind of like the data that they store and and the um the proofs that they store on ethereum they also involve things like Bridges right like bridging in and out of these things I saw some people complaining on Twitter today about how it cost them a lot to bridge from L1 to blast cuz I think the blast L2 went live today and I was I was kind of looking at that and a lot of it was just like fud like there were actually just fake screenshots a lot of them um that

the fees were not right the fees were inflated by a really big amount uh but that was still high regardless of that and I was and I was just looking at that and thinking about it and being like yeah okay I think one thing that's not focused on enough is the fact that yes you know l2s are where users are going to be but a lot of users still want to bridge from L1 to l2s uh even though you can actually just go from a centralized exchange to an L2 and I I believe coinbase does free transfers from uh their exchange to base for example so but there there is still a lot of capital on L1 there's still a lot of people on L1 and they want to move to uh to l2s right so by increasing the gas limit that would reduce the cost of that

right by increasing the scalability of L1 that would reduce the cost of that and I think that that is going to be obviously a not not like a permanent solution or anything like that uh and L1 is never going to be as scalable as the l2s uh but I do think that as long as we can get upgrades in that allow us to do this and allow us to expand the um the scalability of uh L1 not just the l2s we should be doing that of course but anyway never me rambling about verle trees in The Verge you can go check out this tweet from Josh for a full breakdown on the latest updates of what's happening in that world all right so hobby has updated his eth to staking dashboard and he's added a sub entity tags for entities that stake using another entity's contract

below is a screenshot showcasing what shows up when you search for kiln now I mentioned Kil yesterday they are uh because they basically switched off of of gu and a 50% nethermind and gu now but what I really like about this new kind of um feature on Hill's dashboard is that if you click into kill you can actually see where these people staked with Kill from so you can see they staked from binance us ether Capital chorus one and me protocol so they didn't just go go to like kill itself The Entity they actually went through these kind of like sub entities or third party entities which is really great to see and it really kind of um illuminates things and also he's said here to prevent double counting U only this table will incl include those sub entities which is the kind of like e

Staker table here as shown below you will see them ranked by number of staked eth without affecting the ranking once again because of the double counting that would cause um so you you guys know this dashboard I've I've talked about it plenty of times before and it it Still Remains the best dashboard on East staking by far uh not just for like things like this but also for from the fact that I think that out of everyone monitoring anything on to do with staking within ethereum I think hob is the only one who's been able to tag uh as many address like as many entities um uh as as possible I think that there's other services out there or other kind of like data analytic platforms out there uh and other data and analysts out there who have looked at these things but not to the extent that hobby has has

looked at it I think that until hobby actually identified a bunch of um stake that was through coinbase there was some undercounting going on with regards to coinbase Hill was able to find that and coinbase is notoriously difficult to monitor because they just moved their wallets around all the time and they actually try to obate it all for obvious reasons right but I mean I don't know how much m material impact that would have on their security by by doing that but Hill Doby obviously has been able to identify that uh but like he goes above and beyond uh and and he's really quick to update this dashboard and keep it kind of um keep it relevant as the ethereum staking and reaking ecosystem obviously now uh continues to grow here so yeah kudos to him for putting these new features on his dashboard here I

don't know the link hand to the dashboard but you can find it on his Dune analytics profile uh but I'll link this little tweet thread in the YouTube description below for you to check out all right so I I've been speaking a lot about this eth investors club uh kind of initiative that started a few months ago uh and how they've issued their first edition which is now free to read and I'm sure a lot of you have gone to the website which is eth investors club.com and kind of RIT there but you can also mint an nft on the website and what that nft is going to uh give you um access to is a physical edition of the report you can see here it's an actual physical magazine which I can't wait to get my hands on definitely because like I love physical things like you know the funny

thing is people always ask me like why AR you you into nfts you know why don't you collect nfts you're really into like physical Collectibles like obviously all my figurines and I'm also into a bunch of other kind of things and I say to them it's because like I just have a much stronger connection to like the physical world obviously and the physical things that I have in physical Collectibles than I do digital Collectibles not that that say I don't see value in the digital Collectibles of course I do but like for me I'm I'm just like physical first uh and that's why I love the fact that I'm going to be able to get my hands on like a physical copy of this while also being able to do so by buying an nft CU as you see if you go to the the website here you scroll down

you can actually see that there's two different nfts you can mint uh there is the uh uh the one on the left here for 0.039 e and and the one on the right for 0.598 uh which are both open editions uh they end on the 23rd uh 28th of this month so be sure to get get your kind of um get your thing in there uh but essentially the one on the left will give you you basically the um the physical magazine it's got uh NFC sh chip NFC chips for future drops and includes one season of the um ethereum investors Club Community membership which is their basically paid group essentially uh as I've said the report is free but there are exclusive groups that you can pay to join uh and kind of like be amongst a group of people who

are like sharing Alpha with each other and then there's the the other position which costs a lot more at 0.59 eth which is a huge amount actually right now what is it 0.59 it's like half of 3 more than half of 3,400 so that's not not a cheap addition but this gives you two seasons of access to two seasons of that club uh and produce a credit in uh in the second edition of the report uh and a Founders Club nft as well along with all the other perks are there but you can mint either Edition obviously the normal Edition is much cheaper there but as I said you don't have to actually mint them at all the report itself is free uh and uh the a lot of these proceeds are going to the protocol Guild as well as they've announced previously I've announced that all of the share that I

was going to get is going to the protocol Guild as well so you are helping ethereum development too by kind of minting these things but like I'm not telling you to go mint them or anything like that but if you do want the physical Edition uh the only way to get it is by minting an nft otherwise you can read the report completely for free right now which I'll obviously Link in the YouTube description below for you all to check out all right speaking of nfts I've been talking about this EIP 4844 uh 1 minute animated short that Trenton Vans has been working on with nouns uh the the line studio and stateful works uh I think that I mentioned that there is going to be an nft for this video a little while ago and that you could go sign up to the wait list so the mint for

this nft is going to open on March 11th and run to March 25th all proceeds from this are going to the protocol Guild of course and the video itself I believe comes out on March 11th too or the animation comes out on March 11th and in this tweet thread there's a bit of a teaser of what the animation uh looks like um and and kind of like the characters involved I'm really looking forward to to this even though it's only a minute long I'm looking forward to it because we haven't had something like this in ethereum before we haven't had like a full-blown professional Animation Studio making an animation for ethereum let alone for an EIP like this animation is actually for EIP 4844 all about that one EIP and how it's kind of obviously going to affect ethereum and how it's something that we've been working on

within ethereum for quite a while now um and then there's an nft obviously to to go with it as well uh which you can check out the details for uh I'll link this in the yoube description below you can subscribe to this to get notified but uh I can't wait to meet the nft here I can't wait to see the animation um and as I said like all the eth proceeds are going to the protocol Guild and this will be available to Mint on Zora so not eth main or anything Zora is an L2 so so yeah but anyway you can go check out this post for yourself I'll link it in the YouTube description below for you to do so all right so I tweeted out this chart from grow the pie doxyz today uh and it's basically just a chart of the uh

layer 2 user base hitting an all-time high now this shouldn't come as a surprise to anyone obviously leer tws are growing rapidly are on fire as the market heats up they get more and more growth of course um but if I actually go to the grow the P website here you can see it's on the front page so yeah alltime High layer to user base at 3.12 million the previous high was 3 3.92 million which was set December 25th so Christmas day and this obviously was set um um a few days ago this is actually a weak lag I think on this uh right now now you can show ethereum as well and kind of see that the ethereum user base um coupled with the L2 user base is also at an kind of like a high too there but I I just wanted to

highlight the go the pie website again for you guys because this is still the best website to keep up with basically all of the different metrics of all these different l2s such as uh things like know transaction count stable coin market cap which is also growing rapidly total value locked of course uh fees paid by users you know fees paid to L1 you know there's so many kind of stat here I mean I'll obviously link the website in the YouTube description below for you guys to check out uh but what I really wanted to focus on was kind of like the fact that we are at these all-time high CR but we ain't seen nothing yet guys like we we really have not seen anything yet I think that when it comes to like l2s every step change in scalability every step change in in

in fees uh and like material change is going to lead to a increase in activity like I'm I'm pretty pretty big increase in activity maybe even order of magnitude increase in activity because if you kind of look at what's happening in under two weeks we have Erp 4844 going live and as I talked about yesterday when it comes to the cost reduction on the rollups themselves it stands to be pretty substantial at least you know until that capacity gets filled up again but the really cool thing about blobs is that we can actually just increase the size of them and the count of them with hard Forks going for and it's really easy to do it's literally a variable change from what I understand like a on line code chain sort of thing uh to get this into the network so we can just keep materially scaling up

these things and keep those fees low for users which is just going to bring more and more users on board and as we know you know entities like coinbase have their own L2 with Bas and they're going to be pushing more and more of their users to base and as the market heats up there's going to be more and more new users coming in and they're going to want to do things on chain uh and you know the the the Crypton native social uh Network farter that I've talked about a lot obviously on the refuel is uh is using bass as well they're doing a lot of things in their with their frames feature uh there's a lot of other onchain stuff that that they're kind of like doing with the with the meme coins as well like there's this big meme coin on there called dgen and everyone like

tips each other in it so there's a lot of stuff going on across the kind of spectrum on the l2s but that's just like one I'm just talking about base there then you have like all the other ones and I mean I'm going to talk about arbitrum in a sec but you have arbitrum one which is just killing it on the D5 front op main net is is is doing really well on that front too with a bunch of other kind of things I mean the op stack is is definitely more kind of I guess like heterogenous than homogeneous uh because of the fact that U people are building their own chains more so than they are on using arbitrum kind of orbit stack people are building orbit and they more so doing kind of like gaming things uh but like the op stack really has been

top of mind for people um you have uh obviously Stark net you have ZK sync which is really big then you have polygon's POS chain which isn't a layer 2 but will be a ZK evm validium uh in the future I know it's taken a while for them to do that conversion but they obviously still going to do it they have their own zkm that's live as well they have the a layer stuff that they're doing now the aggregation layer which is going to uh uh help a lot with the fragmentation of of liquidity and all that sorts of stuff so really we we we're kind of still at the day one we're still early when it comes to layer 2os guys I know like I'm not talking about the tokens like please don't think I'm talking about the tokens here because uh I I don't know when that layer 2 episode

is going live with um that I did with bankless it should be going live soon I mean it's been a little while since since I recorded it with them with the the other panelists on there um but like I I've said this a lot on that episode and you you'll hear it when you listen to it but essentially like the token just have gotten so ahead of of the activity that they're just pricing in this growth already like the market is forward looking right so even though we may be early on the tech side of things that doesn't necessarily have to reflect in the prices uh as the as the growth continues because maybe it had already priced it in right uh and that's always the ageod question when investing like is this priced in and you can never really tell if it's priced in or not and

in a bull market a lot of that stuff goes out the window because there's just so much demand coming in to offset any of that but if you're talking about like a let's say a 2year time Horizon we go through the whole bull market and then we probably get into another bare Market at that point we're talking about that time Horizon then it's very very hard to know kind of what's going to happen with the token so that's why I I I I I I don't comment on these tokens especially because I'm also an angel investor in a lot of them and I don't want to be Shilling my bags to anyone um I actually actively fud my bags you'll F you you you hear me do that in the layer 2 episode I did with bankless u but but like my point of saying we're early with

layer 2's is the the user base because like obviously this user base yeah the 3 million or whatever it is that's not unique humans right that's addresses we don't know how many unique humans are on there because we don't do kyc on chain right like and even if we did it it probably wouldn't give you I mean it will give you a semi- accurate picture but it wouldn't give you the most accurate picture so you could reasonably say that there's probably way less than 3 million that are using like actual humans that are using layer 2os and obviously there are way more than 3 million people in the world so as that's why I said that every time we reduce the fees even further and further we open up these l2s to more and more people to more and more activity and then uh we

keep on boarding them as time goes on and over the next few years but and that's why I'm saying that we're still early today because we still have so many people left to on board so many people left to bring on chain even though it may feel like you know we're not early because the prices are where they are I mean crypto is no longer that you know that small especially BTC trillion dollar market cap eth is approaching half a trillion dollars right it's not small we you you wouldn't say that you're early to BTC in eth especially I mean I think that eth is going to perform really well I think that it is going to be really valuable over the long term but when people say early I think they're expecting like 100x or a THX growth of the asset that they buy you're not going to get that

from ethal BTC like maybe you'll get that from some kind of random thing that you buy or some meme coin or some gem that you find I mean the it's it's very hard to do that though but when it comes to the actual user base growth and the actual onchain usage growth that definitely still has like 10,000x at least to go from here that that's still going to explode and growth but when it comes to the actual asset prices themselves uh like it's anyone G guess a lot of the time to be honest but like some of them like BTC and eth definitely couldn't be considered early especially because BTC has an ETF now it is fully integrated in the tradire system well at least like it it is going to be fully integrated in it obviously isn't yet but it's there it has that product and that

really was kind of like the final boss there uh but yeah I I I think that it's good to separate those two things user base and and kind of token prices here so when it comes to the user base definitely lots of growth ahead to prices who knows maybe there's lots of growth ahead because it's a bull market but then if we go into like a bare Market again or when we I shouldn't say if because we definitely will go into a bare Market at some point we go to a bare Market again like who knows what's going to happen from there and actually who knows who the actual winner is going to be of these l2s as well because if you really look at it like right now I would say that arbitrum 1 is probably the leader of the l2s but the thing is

is that there are some l2s that have come out of nowhere recently and been able to gather a lot of market share and we haven't even scratched the surface of what's of these can do like for example blast went live today as I mentioned and what blast is actually doing in order to I don't know if I call it a vampire attack but in order to like get a lot of activity to their L2 is that they've just gone full de gen mode about it like they have so many incentive programs running they basically locked people in as well by saying that if you leave you sacrifice all of the points that you've been farming up until uh you know the launch and that means you won't get an airdrop so they're employing all of these strategies in order to keep capital in their ecosystem and then get

more capital in so the game is is far from over guys like just because arbitr one is the biggest today and they've been around for a while and they've done a lot of great work to get there doesn't mean that they're just there and that's it like and then they're not going to be challenged of course they're going to be challenged and that is obviously good for everyone competition breeds Innovation uh competition is better for the end user but that's why as well that I said like it's very hard to invest in a lot of these things because you don't know who the winner is going to be so you're taking a lot of risk doing that and a lot of people have already done this because the l2s are obviously very hot and it's a very hyped thing but in terms of holding it for the for the long

term like I don't know you know I don't know what what that's going to kind of look like and I don't know what the what the winners are going to be I couldn't tell you which L2 is going to win in 10 years like if you look 10 years out I can't tell you which l2s are going to be the biggest I mean I can give you a reasonable kind of like assumption based on uh how long some of them have already been around for and how how they've kind of conducted themselves I mean I could say that I definitely believe like arbitrum op uh polygon uh and and maybe stet I think ZK Maybe maybe those I would say but there are so many others out there that are building a lot of Great Tech they have great teams behind them but like it they they haven't even

GA gathered much market share yet so we have to kind of like wait and see what they do and how they come to Market and stuff like that before we can even kind of have any kind of confidence about this and 10 years in this industry is so long like I mean even me saying those those teams that I said that I have relative confidence that they'll be around in 10 years who knows you know they may not be they may be around but maybe they're really small compared to these other things we just don't know at this point in time but anyway enough rambling about l2s there uh I just great to see this all-time high on user base today and I expect this to continue growing exponentially especially in the uh in the bull market not the bare Market in the bull market all right so as I said I wanted

to talk about arbitrum so arbitrum had a pretty big announcement today so they have uh teamed up with Robin Hood which is an investing app that's been very popular in the US for quite a while now you guys know Robin Hood they there was a bit of drama around them during the uh the covid years I think like 2021 or 2020 the whole gme thing the meme stock trading thing um and Robin hold has dipped their toes into crypto a bunch of times but they also went back out of the pool once the SEC sued coinbase and binance over a bunch of the tokens that they said were Securities Robin Hood famously delisted those and that was kind of the bottom for a lot of these tokens as well which was hilarious looking back on uh but what arbitrum has has done is basically that they're

bringing the uh arbitrum Trading experience to Robin Hood so you can see here that Robin Hood uh sites Arbitron ones low transaction costs fast transaction speeds and bustling Community as requirements for their new cross-chain swaps feature and ecosystem campaigns that we that will be running in the future so essentially I think what the collaboration wants to do is get Robin Hood's user base to trade on chain using arbitrum kind of Technology here and using the arbitrum ecosystem or arbitrum network which is something that I think I've predicted uh a little while ago where I said that that a lot of these centralized exchanges or like centralized Services they they're going to want to come onchain uh and they're also going to want to push users on chain to trade assets because they don't

want to have those assets uh uh you know trading on their platform for regulatory reasons and I said this about coinbase where I said that coinbase may not want to list a lot of these assets because of the fact that it might uh you know get them kind of stung by the SEC again or they don't feel comfortable listing them but then they can push people to base and they can say hey you can go trade these assets it's available on base and I think the same thing is going to happen here with Robin Hood where they may not necessarily list the assets themselves under their own kind of Robin Hood umbrella but they'll have an integration with the arbitrum network or the arbitrum one network where essentially you can swap and trade these assets but you're actually not trading them on Robin Hood's platform you're

just Robin Hood just is acting like a front door so to speak or just hosting like an interface for you to trade on arbitrum one and I do think that is the future of of trading guys like onchain is where it's at and I think that these um these centralized exchanges and services they know that outside of being a Fiat on an off-ramp a lot of the trading definitely has been moving on chain and a lot of people prefer to do stuff on chain and even these Services prefer it too because it means that they don't have to uh uh necessarily do a lot of um the the the really cumbersome kyc AML stuff they have to do it's less overhead for them but obviously they want to keep that value in house they want to capture that value so the way it would work with Robin Hood I assume is

that they would still slap a fee on top of it like how metamask swaps slaps a fee on it where if you do a swap using metamask swap feature you're paying a 0.8% fee on top of whatever fee of the pool that you're using like it's 0.3% with unisoft for example um and I'm assuming Robin Hood will be the same where it's like their fee probably will be even higher where they essentially give you access to arbitrum entire um list of assets that are on there that are trading and if you want to trade using the Robin Hood interface you pay like a 1% fee or something so that's how they still get their take and I'm sure coinbase is probably working on an integration like that as well where essentially they host assets that are tra so they become a front front kind of

like door and interface into base for users and people can use that and then they'll just take a fee from that so that's how they stay in the game without having to actually have the assets kind of like hosted on their platform it's a very smart way to do it I think and it's very very good for onchain stuff so just great to see that Robin Hood and arbitrum have teamed up I know people have different opinions on Robin Hood and don't think that they're you know uh crypto natives or defi natives or whatever but the the thing is is that it doesn't matter to an extent because they have such a large user base and by bring this user base on chain it actually just net benefits us so really the entire and it also sends a signal to one of these other tradire platforms or the ones that

have been in tradire maybe dip their toes into crypto that you need to get onchain like onchain is a new online it's like when everyone was falling over themselves to you know get their own domain domain name and build a website right uh for themselves and get get online get an email address that's the same thing that's happening here every like I think there's going to be a fmer of people getting on chain like you need to get on chain like your users are going to be like hey are you on chain right can I do stuff on can I trade these assets on your platform and that's going to cause a Snowball Effect and that's just going to bring so many users into the ecosystem especially into l2s but anyway you can go read the full announcement here I'll link it in the YouTube description below for you to do

so all right so speaking of l2s or staying on the topic of l2s Robbie Ferguson one of the co-founders of immutable tweeted out this uh thread today that I just wanted to talk a little bit about so he said right now you can download Gods Unchained on your phone sign up with a mutable passport using Apple in less than 3 seconds and invisibly receive and trade items that can never be taken away from you the user experience required to unborn a billion players onto real property right rights is here and the reason I want to talk about this a little bit was because this is the abstraction that I've been talking about for years now and the this abstraction is being done at L2 right on the mutable um L2 infrastructure here where they've got this full stack of of of Integrations happening where they're

bringing in users and they're abstracting away all of the kind of crypto jargon all of the complex crypto stuff and basically saying hey you want to play Gods Unchained cool get it on your phone sign up with your mutable passport which gives you a wallet uh and then you can now trade and receive items that can never be taken away from you and Bam you're ready to go there's none of this okay get some eth go Bridge onto ethereum mainnet or Bridge onto the L2 you know get well get a wallet before you can you can Bridge because you need to set up a wallet in order to to receive funds right metamask or any other wallet or whatever it is um you know put up with transaction fees of course and read all this weird crypto jargon that you're not Ed used to like

what's a gas fee right none of that like this is abstracting away all of that and just giving the user what they want and what they want is to play Gods Unchained that's that's the heart of it they they're downloading the app because they're like I want to play Gods on chain they're not and and and and they're not downloading it being like Oh yeah I want to play this game but hey I want to jump through a million Hoops before I do that no they're expecting a similar experience to what they get in the web 2 world where today when you download an app on your phone as I've said before it's like a couple of clicks before you basically do anything and that's like the standard now it's a couple of clicks to do anything with these apps signing up is a Bridge you

can sign up with apple with Google with a bunch of other things uh when it comes to crypto you just sign up with an an existing ethereum wallet or they'll create one for you like what a mutable passport does here so having that kind of full stack integration and that control over that stack as well in order to uh to maintain it and to upgrade it and to add features to it is a really powerful primitive that the L2 infrastructure gives you and the L2 kind of like road map gives you and and allows you to do so yeah I just wanted to highlight This Thread I mean you can read uh the rest of the thread there's only a few more tweets here I'll link this in the YouTube description below but I do think that when it comes to getting on chain gaming companies are

still going to want to come on chain as well I know that recently the gaming kind of ecosystem has gone through a bit of a rough patch I don't know if you guys have seen there's been a lot of layoffs in the uh kind of gaming industry I think because people over hired or companies over hired during the co years like a lot of tech did and they're laying off a lot of people but they don't seem to have abandoned their nft metaverse kind of like crypto Ambitions even in the face of a lot of the hate that they're getting I don't know if you guys see this but the people that are not in crypto they're really like I mean these are the vocal people but they really really don't like nfts they really don't like crypto games and I think that's born out of a a

misunderstanding and it's also born out of a hey we haven't really made anything like too spectacular yet or haven't really had like a breakout crypto game that's reached the mainstream audience uh and that and that's brought them in but we will we will we definitely will and I think that attitudes will change over change over time uh but yeah it's great to say that the gaming industry hasn't completely abandoned crypto uh and that are still kind of doing stuff within that ecosystem all right so uh just wanted to shout out here I think this is the last L2 thing to talk about uh I have spoken about fluent a bunch of times before it's a new L2 building uh a ZK WM L2 environment on ethereum just a disclosure I'm an adviser to fluent uh but n Rolf here had a really great thread today explaining what fluent is

and like why does it matter why do we want it why do we care about it so if you guys have been wondering about fluent and you haven't been satisfied by my explanation of it you can go check out this thread for yourself I'll link it in the YouTube description below it's a really really great explanation of what it is so kudos to n Rolf for putting this out there all right finally here rabby wallet is finally officially available on the IOS app store I did mention a few weeks ago maybe a couple weeks ago that there was a fake rabby wallet on the IOS app store not anymore that's gone and now the real one is there now please please do not download this app from anywhere except C or do not go follow any links to this app from anywhere except the official rabby

website which is at rabbi. it's R A BBY Y.O you can find the link in the yoube description below go there click the App Store link that's here or scan the QR code and then you can download it onto your phone um just make sure that you have the right one because if you're doing things something like importing your seed phrase if it's if it's a fake one then yeah your funds are going to get drained right you just have to be careful about these things whenever you're messing around with your seed phrase you're going to be really careful with it normally what I do if I'm kind of trying if I'm shifting wallets honestly I'll just abandon my old wallets and just start again and I'll just move assets into that wallet once I've set it up I I don't like messing around with seed phrases at all like it

it it's it's not great I mean I don't want my seed phrases touching a computer at all uh but there there is kind of like a necessity here I think as well because of the fact that uh uh people don't want to have to do that it's very cumbersome uh and you just kind of like need that experience but anyway regardless of that yeah it is available now on the IOS app store it has been available on Google Play it's available on desktop on Windows and Mac and as an extension so yeah I mean I I still consider rabie to probably be the best wallet in the game right now uh that's just such a great wallet has so many really great features um so yeah if you haven't checked it out yet now's your chance to do so there but I think that's going to be it for today's longer than

usual episode so thank you 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 next week thanks everyone