Why Ethereum Needs an Incubator DAO to Bring EVM Developers Back

Transcript

Thank you for waiting. We'll now resume the presentation. Now, please welcome our next presenter, Mr. Udai Suzuki. [Music] Hi hello everyone ZMZM uh thank you for coming today and for listening to my talk. So hopefully like you know this talk will be are one of the unique talk you will listen through this aircom and also like I I just wanted to say like thank you to like

Eric organizing this is a really great event and thank you so much for inviting me to the speaker. So there I I will start like about like my introduction first introduction. So I'm Udai Suzuki. I'm co-founder of Fractton Ventures which is not a VC or this is a incubator based in Japan other my background is a record startup incubator since 2017 18 or since then or I saw first generation of blockchain startup everyone called blockchain startup at the time. So like I supported like blockchain startup first generation or in 2017.

So I since then like you know I was like a big fan of like I I'm a big fan of blockchain technology and the also like a decentralized infrastructure technologies and uh so like I introduced so many like blockchain first generation of blockchain startup founder Japanese founders to VCs investors in Japan market but anyone everyone couldn't understand this potential one of the guy I could realize try to realize that had such such a kind of similar application of record or or chain analysis at the time. Is it 2017 or maybe you guys know chain analysis or recently signed with FBI or any big American agency using

this technology as well but you know there so many record BC couldn't understand this point you know why someone why you where is a user who would use this technology so you have a blockchain you know is a scam so it was a it was my beginning story you know so since then I have been starting to we have to create really strong ecosystem for Ethereum in Japan. I just started like a founder community first in Tokyo and for all of blockchain and especially for Ethereum protocol founders I collected in there and like do a like a drinking or networking event together and for knowing each other. So this is my starting line. So fractton or this is

like a Tokyo based incubator and uh it's not only for Japanese founders or we are providing incubation cohort and as a cohort style to our more widely people as like as like Asian founders too. So the fractton has a three things we are doing. First one is a fractton incubation which is a frag incubation model. So that we are providing cohort style means six months or three months. Cohort style record acceleration incubation model or plus educational content or plus inter or super or or interesting or innovators like mentoring opportunities or we are providing through this program. So fractum enterprise teams. So like recently we

created enterprise teams for or supporting more enterprise. So how our enterprise or big corporate especially in Japan too or can understand the value of ETH. So there is a two meaning of like Ethereum the Ethereum is a world computer that it can covered by fractal incubation through this inc protocol incubation. So there is a e ETH is money ETH money is covered by this fractal enterprise. So this is the things and also like we are organizer co-organizer of east Tokyo and we are organizer of DA Tokyo.

Yeah there hopefully like so many guys like already attended to this year's D East Tokyo as well. So it could be success like successfully we finish like this event. Hopefully like we will read back to record Tokyo again and uh hopefully record Econ will keep providing our event in Osaka as a like any collaboration that we we'd like to see and we are are hosting like a monthly meetup in Tokyo and like if you come back to Tokyo please say hi to Fractton team. So if you want to talk about something, if you want to share your research, please use our meetup opportunities. This is for yours. It's not my handle. So this is for yours. So

fract is doing rec entering is doing eMM incubation is Asian protocol funders and the incubator over 40 protocols is a target is very simple after hackathon and two angel and pre round. So there nobody like this is super tough hardest timing for cryp founders you know anyone will not support nobody you know you are just challenger oh you are doing things okay like good luck that's it so who will support strongly for this artist founders this is the things I will skip it the cohort five will start very soon we are we are expanded like a deadline of this

application if you are building very new protocol and the super in you are in super artist stage please apply to fractton website so please find like our Twitter or x record or our handle is we can dow it so please search we can dow it so there yeah I would skip it so as a back to the main topic so we are eam everyone is our etherans so we love why we love Ethereum I think there is a three reason I I personally too. The first one is a decentralization.

Decentralization has a lots of meaning. The node client level decentralization geographically re decentralization and or any other record you know or any other or any specific or name of organization couldn't provide the record you know central record or top down redressive model in the market or something like this. So the and uncensorship. So we are we need this point as well to because like Ethereum is for everyone. I posted this this word like yesterday.

Etherm is for everyone means like you know any single person like or we will we should not to shut out them from network. It means like you know the someone carefully AML okay like you can use GKP for checking AML right so like ERM itself they shouldn't do like you know shut out someone from the network and the last one is a positive subcoordination so oh sorry so maybe like my internet my connect is not good okay so the pos connection coordination is like a most important things to do it so the everyone is like standing on open sourcebased culture. The open source

based culture means every protocol can forkable fork forkable or to from source code and you can use use the code. So the record and as a tokconomics too the if token incentive model is a bringing to new value and outside of the community to into the new community or to own community the community will grow. So there everyone is just a commi talking about like we have a community we have a community there are you is this real human is this is a program you know so many bots maybe you guys are hold like over 20 watts or something in person right so like so like more important things is that like how we can

create like a more positive some loop or looping or through the protocol design through the token token design as well. So big question what are we missing in the Ethereum ecosystem? When I say ERM ecosystem it's completely record or aligned to like ERM L1 plus L2s as well. I can describe as well and so next question is ERM ecosystem means it call EBM ecosystem. I personally think sorry for any other EBM guys like you know I personally think EVM is not a ecosystem it's just there is a just a solidity developer developer can write solidity for virtual

machine can run using solidity language this is just a EBM EBM is completely open source everyone can use it so EBM if fork from like a Ethern is sorry Ethern to any other chain it can network it's it doesn't mean to actual ecosystem I'm personally thinking so so this is my imaging so there is a eMM L1 there's EM L2s and the specific side chain when I say specific side chain impersonally I think like a noises polygon they are in so this is my imagination so everyone can easily to say we are in like a EBM ecosystem together right bro no no this

is not an ecosystem So this is real ecosystem Ethereum ecosystem. So as a rep question is that like you know where are three developers in the market. So the maybe like just research has made by electric capital there they are reporting like every year for where is the developer are in in the market. So there maybe like uh Solana a chain or internet computer all interesting appto base oh bas is ecosystem eum ecosystem as well so near okay so I don't know the I think this is just like a developer

number so it's not it doesn't mean to solidity number but like also like where is the sity developers if developers keep developing some solidity or using solidity for EBMS in other chain outside of Ethereum ecosystem. I want to say like please come back to here how we can do it. So how can we EBM developer return to the Ethereum? This is a program. This is a question for you all. So why don't they build on Ethereum?

Please think about like one minute like why what do you think why don't they build on Ethereum maybe other chain has lots of grant opportunities printing money printing money something I don't know so and the partnership offers we can easily to say co-arketing together bro okay okay it's good so the my interest is that like you know if EBM developer means like a solid developers rethinking about the what is the meaning of Ethereum development what is the meaning what is the value of like development for Ethereum if seriously they will start to rethink again I think they will go back

my answer is that no place to get serious mentorship for super audi protocol founders the reason is that so the point is that you know so many audi developers looking for opportunity as grant as a partnership. The reason is that like you know you don't know any new protocol names the new protocol comes in the market there there's a really serious founder they are developing over 20 years writing a code this is crazy this is good but also even the situation you don't know the name of the protocol right you will not use a protocol so if they say you know we partnership with blah blah blah foundation ABC foundation ABC foundation

ABC braos something like this so the record so we got a record grant and or from like this hackathon this finalist something like this. Okay. So like you know or finally like a foundation approved your name and also there maybe like maybe we maybe someone will get interest to use this application this protocol as well. So the my why I say this answer is my opinion is that the other as our incubator EM incubator we always thinking about where is a good place to like get provide a mentorship for super early stage founders. So like I I am believing like all of attendees in here is like a maybe like a maybe

like a half a percent is a speaker in Elcom over half a percent I think so. So there now you are speaker on Edcom but like a you were like a timing you were timing to like a just a super beginning phase of the protocol developer protocol founder right so at the time who supported you so how so stage protocol founder need opportunities need opportunity means like are if new protocol creation activity comes from hackathon. They have to s start to thinking about like is this a good idea? Should I spend my life

for keep building this protocol? Something like this. Okay. You know, you have to share this idea to like a really good mentors you know. So record I think these guys record you know these attendees are really very good where if we you can you have a motivation to do a mentorship for Ethereum ecosystem from tomorrow maybe new founder we will see more new founders and they need I say like they need mentors mentors is not just like angel investors but also like are more collaborate together and share their networking resources trust resources and I know him guy the the guy understand this point you have to talk

with him like that so someone should like introduce or in to or bring new founder to core deeply ecosystem prayers and start to doing a chat the type of opportunity is really really important for everyone and the and the last point is like they need a grant or angel investment too so there it's it's depends on the But you know like you don't need a money you have a money and you can keep developing this is the best but also like realistically you know there is a timing to like you know we are we can easily to face financial program we have an idea we have a motivation we have a

good team as including developers but we don't have a money okay you have to raise raise the money so the so one question big question especially for early stage funding or fast funding is that like you know the investor AI investor NG investor too then can easily to ask the who or which ecosystem which player approved your name in the ecosystem so you know like it's just a bit of hurt it's just I think this is just like a chicken and egg program you know someone should approve like I'm supporting this protocol but also like before coming to this information so like investor cannot

say yes like okay I am personally like like you but like personally like you means like you know I can't invest like a to your protocol directly like on that so what we are doing in the space so fractum benches is a continuing to provide 1% of token offer to incubate protocols so we are not investors we will not invest we haven't invested but we just offer import like a 1% of future token from each of incubated protocols.

Someone said, "Oh, you guys doing like a banter work in the space?" kind of kind of. Yeah. But why I saying why I why I'm believing this model is good is that so other other incubator or accelerator in the market in web three in whole of crypto they are are offering around like a four to six% token to each your projects. Maybe you you guys can understand four to six% is quite big number you know maybe like a roughly 20% of equity or something the similar meaning it's too risky to do this and more important things is that why I offering why we are offering 1% of token

to each project the reason is that the we are not an investor we we want to take we want to get more position as as a side of like a more co- funding member level for you guys to keep supporting your project. This is a sense. So we started to thinking about this model. We have been providing this model since 2021. Over four years we already incubated over 40 protocol 45 protocol in the market or mainly from comes from Japan but not only from Japan.

So recently we started to new dow or alliance initiative it's called east reactor east reactor is like a new dowo formation a dowo dor incubator collective for etherum why it needs because like a prearch on like a east reactor or eth without e reactor or east reactor on x there is a there is a x found only 100 members following right now it's super beginning timing so so why it needs fractton offering this model so ino in in many days and also the reco we are also

thinking about like you know how we can do more global rebel same action in the market so e reactor has recently started with these communities They're from Japan Fractton will join in this D. Suchi or blockchain labs or which is a behind of East Betam they will join and narrative from South Korea will join East Sudony has joined and also Isa Cinco de Mayo the which is like Mexican community the has joined and is Panama community is called east cano has joined and the Napoli east which is

Italian community has joined and the Isabelare which is a Serbian community has joined too. So what will will we do? This is like E is reactor is a record global D formation through by our E is reactive umbrella powered by incubator collectives especially for Ethereum aligned incubator collectives. So the meaning of this record there is a lots of record hackathon in globally. So you can you can jump on to the new hackathon new hackathon new hackathon as a mentor J or something like this. So behind of the hackathon there's so many record regional record reader Ethereum reader player in the market we want to

on board them into the one place to work as like a DAO member DA formation together to do incubation and offer 1% of token in regional market everywhere. So there technically like if we on board if we reach the on board every global country into reactor is reactor brand can get like a global access through this global is reactor brand name this is a DAO so so this is the formation of reactor actually do so regional incubator join in this DAO the regional incubators means like I know behind of the is hackathon or is incubator they are already drink and run on incubation

program together and globally. So the through this is reactor names is reactor brand. Okay. So we we can run is reactor or makish cam or incubation program like this and the request like incubator teams to allocate 1% token to do it and one of the goodest motivation for us incubators is that we can share more idea more regional opportunities collaborate discussing with incubators circles this is a one super unique opportunity to do it normally Japanese incubator like us don't have a motivation to share what's going on Japan. So what type of protocol

we should incubate from Japan with international people or any other ideas normally we will not have a we don't have a motivation to share the idea to any other countries incubators sometime like we can take like you know it's not an enemy but like you know it's like just a bit of like business it's not doesn't mean to like business synergy normally but like can create more aligned incubtors corrective success this is focusing on. So this is the things of like east reactor as model.

So first as I mentioned earlier so incubators they're normally as as IM incubators we are always supporting really very early stage founders they started from hackathon they try to hackathon so many times and starting to build record teams and just finalizing the ideas and also record here recent or you know research everything and doing for like a real finalizing think like of this protocol architecture. Okay, this is good. So maybe these information like who is our underrated talent in the each of regional market could capture we capture by like a regional incubators

right. So Zer if you are living in your country you know everything this country normally around your community and who will who will be joined the who who are recently interest in this market this protocol this type of idea like that like that imagine like you know like if someone or if new market comes in the market like a uh like that if there's an idea like New Oracle mechanism is need of for the market any specific reason. So okay this is good okay so like through this ecto brand we are starting like researching

on everything who guys are like act already started to like you know research on new architecture model or new value model of oracle mechanism or there there's a lots of oracle in the market or including chain link too so why we need new type of oracle is there is this a critical reason someone should create a new protocol or not and if it's it's true okay so you know what type of architecture is the best so reactor is a hub for everyone is a correct more ideas protocol ideas into the east reactor brand and also we can share ideas with like a collaborative aligned incubators

and sorry through the incubators or we can easily to find really good talent in regional market maybe some case the founder comes from record Japan and the corer and makishko and the co-ounding together for one protocol. I think this is the best. So e reactor can work for more providing more increase or coordination opportunities for in the ethereum ecosystem especially for Ethereum incubation phase and also like as I mentioned like is we do our cohort style like incubation programs.

So normally incubation program are is just a bit of hard to like you know are are providing actual beneficial or benefit to mentor or guest speaker each of programs. Normally everyone everyone doing just a super voluntary work or just accessing to like RDC protocols are only the reason they are doing but we have to create more actual like incentivized model. through this action too. And if really good mentor support deeply to really specific founder, the founder will success in the future. The mentor will record it something calculate

something as a record. His mentorship was really very good in early stage something like this. How we can capture how we can track on this. This is the things and the left one is a record grow them as a record regional reading protocols. I think as I personally think is there depends on the market but like especially in Japan too the market has been recently changed a little bit. It means so the positive of timing there I think like ecosystem is like a puzzle piece of puzzle. So like so many lots of piece of puzzle are already in in the puzzle. So there is a like a big lending protocol, there is a

like a you know stable coin protocol, there is a you know the risk takingaking protocol like this. So if protocol is already enough someone should aggregate protocols into the one application and sip as like one product. Why I saying like is that like a protocol is more OSS based like open source based smart contract based one and the product means you know like more providing record the things on it like this so and the last message from the isctor is like this things so we have support for RDC founders and if you are running

like your regional community please let me know or we'd like to on support you to record. So what let's work together. I think this is a new chapter for EM incubation. Thank you for listening. [Music] >> Thank you very much. I think you got those.