Element raises $32mil, Connextscan released and more - The Daily Gwei Refuel #234 - Ethereum Updates
20 Oct 2021 · 31:39
Anthony Sassano recaps Ethereum news from 20 October 2021, starting with the Merge: the Prysm and Geth clients have synced to Pithos, the first Merge testnet, and he argues there can be no delay without a launch date, giving his personal view that a Q1 Merge is very unlikely and early Q2 more realistic. He urges validators to update before the Altair beacon chain upgrade on 27 October, criticizes Facebook's metaverse plans, and explains why only true layer 2 rollup bridges keep funds withdrawable if the layer 2 goes offline. Other items include WalletConnect's v2 developer tools, Sign-In with Ethereum (EIP-4361), the Connextscan explorer, and Element Finance's $32 million Series A, in which he invested.
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hello everyone and welcome to another episode of the daily gray refuel where we cap the latest news in the ethereum ecosystem i'm your host anthony sosano and today's the 20th of october 2021 right everyone let's get into it so the merge is coming another little mini update from uh terence from prior prylabs on the merge so you can see here that prism uh the the pro labs client and the go ethereum or geth client have synced to pithos the first merge testnet so there's a bit of a gif here that you can kind of like view if you want to it'll be linked in the youtube description basically just you know command line showing that they're basically synced to the merge test net here uh this is cool and exciting obviously just a little update but what i wanted to kind of focus on was something that i've been
saying lately uh by basically saying the merge is coming and i always have like a little panda emoji there because the panda has become like the unofficial i guess like mascot of the merge uh because of that meme that was shared uh quite a while ago by xiaoweiwang from the ethereum foundation of like the two pandas fusing together or at least that the two kind of like panda bears one white one black fusing together to become like an actual panda uh and and that obviously um represents the the merge right the eighth one to eighth two merge so what what i wanted to focus on was whenever i say the merge is coming some people kind of like uh have a go at me and they're like oh yeah the merge is coming but like it's not coming for a little while and people say oh you know
it's all delayed now because uh you know there was uh tim baiko kind of like said that we could say it uh i mean i don't think he said the exact words that we could see it in june of next year he was just giving like estimated dates out depending on when you know if the code was ready by feb we'd have like four months until we put it onto mainnet which would make it june but there's never been any kind of like uh main net date given there's only been estimates and kind of like windows there and if you've been around for in ethereum for quite a while now you know that those those estimates are just that just like really rough estimates they don't really represent a kind of like real timeline there and the same thing happened with you know aip1559 as well right like it
it's funny because i i think at some point maybe even earlier last year people thought that one five five nine was imminent right it was actually going to go on main really soon and then it still took like over a year to get it to mainnet and it ended up going to august like we you know some people thought it would be in july and then it ended up being in august but now that it's live on mainnet no one really cares about it anymore like it's just there it's doing its job and i barely see anyone talking about one five five nine anymore and lets us to update unless it's like a tweet about how we just you know how much we just burned we're at like 580 000 each burned at the moment by the way just in case you were wondering so i
think the same thing is going to happen with the merge but yeah i just i don't like seeing people say you know um there's been a delay because there's not there can't be a delay if there's no kind of like uh uh launch date given and and just because it's like a launch window given or just because there's estimates they do that because people keep asking for for dates and for estimates and but also to give them something to work towards as well to give them a goal uh them being like the core developers and researchers and the community at large as well um so yeah when i say the merge is coming it literally just means it is coming i don't know when it's coming and you know i as in i don't know the exact date there is uh estimations there is a kind of
like window of time when it's to be expected but i'm gonna be saying this for months right until that actually happens and i can't wait till the day that i can basically say the merge is here no need to say it's coming anymore and then the hilarious thing is it'll only be talked about i reckon for like a few days before uh it just becomes like uh something that okay it happened what's next sort of thing because people in this industry have like a very short attention span so uh it's always kind of like what's next after we deliver something and i think that's what makes ethereum so exciting to be honest is that there is always something that's coming up next there's always a new kind of like thing to look forward to um there's always something on the horizon whether that be from a project or from
like a layer 2 or from ethereum itself i mean after the merge we have sharding and statelessness to look forward to i i think statelessness is not something that um you know a lot of end users will care too much about maybe not so much sharding as well but i think developers definitely will especially when it comes to sharing a lot of the layer two developers they're definitely gonna care about that because of the fact that it's gonna lower their costs and that will lower the end user costs as well so yeah lots lots to look forward to there but as i said we've only got like a launch window right now for the merge i think q1 at this point is probably not gonna not gonna happen i i've been saying like you know i've been saying that i'm gonna keep you guys updated with my own
personal estimates of when the merge is going to go live based on the real-time information that i'm seeing play out at this point in time i'm confident to say from a personal capacity again do not quote me on this and do not attribute this to anyone but myself but from like my personal point of view i am i'm you know i'm pretty uh happy to say that i happy maybe happy's not the right word but i think it's pretty safe to say that uh q1 merge is very very unlikely at this point and um i don't think that's like a bearish thing or a bad thing i just think that uh you know q1 was always very ambitious and and it's just looking like it's probably going to push into q2 i have said early q2 before if that changes and we we know push into
later q2 or whatever that might happen uh that you know that that could happen like we just don't know at this point in time it's just too early to tell uh but i'll obviously keep you guys updated on my thinking around that so we'll see if it happens late q2 and instead of early q2 does it really matter in the grand scheme of things no even if it happens in q3 even if it happens in q4 it doesn't really matter in the grand scheme of things uh as i said like i feel like people just like have a very short attention span and we'll focus on something else pretty much from like right after the merge like probably a few days after the merge it'll stop being like the topic of discussion we'll move on to something else but i can say that uh all the
researchers and developers i talk to and that i know that are that are working on this sort of stuff they all want this stuff to be done sooner rather than later they don't want to kind of dawdle on this they don't want the it you know they know the funny thing is is that with eip1559 there was a bit of like drama around it because people were like oh you know this is just a way to pump eight it doesn't actually do anything for the fee market which is completely wrong as i've explained many times with the merge it's funny because the merge is actually a bigger um supply shock than one five five nine is because of that ninety percent issuance reduction and also uh uh uh you know from from that perspective the same people who hated one five five nine for i guess like being you know viewing one
five five nine is just the way to pump the price should view the merge that way if they're being objective about it because uh the merge plays a bigger part in kind of like uh reducing kind of like eight supply but the thing is is that i think the the i guess the importance of getting off proof of work trumps that for a lot of people a lot of people don't like proof of work especially in the ethereum ecosystem they they think it's like been a necessary evil but we all want to get off that we have this beacon chain that has been running smoothly for coming up on 12 months now and we want to use it we actually want to utilize it to verify the chain we don't want to just you know have it there doing nothing except verifying itself and i'm
sure the eth2 developers and researchers are very keen on that happening especially because of the fact that they built this thing and they want to see it actually put to use so again q2 early q2 um you know that might change it might end up being like mid to late q2 but at the end of the day guys like they're working as fast as they can and i'd rather have a safe and secure merge than one that's rushed uh if it's rushed things could go wrong and that's even worse than just like i guess delays you know there's a famous quote from uh shigiru mayamoto who i think is the president of nintendo for quite a while where he said um a kind of a rushed game sorry a delayed game uh or something something about a delayed game i have the exact quote now
i i've thought in my head but basically he said that a a rushed game that's kind of like bad and with bugs in it whatever is bad forever right but a delayed game isn't so you'll typically see within the gaming industry that some companies will rush out their games uh instead of delaying it um and then just fixing it after the fact but doing that means that the game gets a really bad reputation if it's if it's broken from the get-go and it becomes really hard to come back from that you can see this with a recent game called uh cyberpunk uh 2077 which got a really bad rap because they rush i mean there were delays for that game but they basically um kind of like uh released it in an unfinished state and now no one really talks about it right no one
really kind of um uh praises it it was kind of like derided for how bad it was and things like that so you know but if they had delayed it for another like six months right or something to fix everything then that wouldn't have happened so i think the same thing goes for this like if if we rush these kind of like critical upgrades out it's not just um you know the pr then brand damage or something goes wrong it's also the monetary damage like there's a lot of value at stake here you know 500 almost a 500 billion dollar network trillions of dollars being settled we need to get this right now i know i'm i'm going off a little bit of tangent there but i have brought that up a lot of times before but just kind of like wanted to clarify you know some some
points around the merge there so uh facebook is planning to change its company name next week to reflect its focus on the metaverse so alex heath here says that he's told zuckerberg is planning a formal unveil next thursday at connect the company's annual ar vr conference so it seems that zuck is kind of like gutting for the metaverse he wants to own the kind of like digital space that we're all i guess coalescing around and all creating together and you know i put out a tweet here a quote tweet basically saying you know let's keep building decentralized systems so that we can ensure facebook never owns the metaverse because i personally can't think of something worse than facebook owning the metaverse i don't want some giant um conglomerate
massive corporate company owning the digital space that we may all kind of like live in uh and kind of corrupting it from the inside out just like they've corrupted a lot of other things i mean facebook it's funny because like people have different views on facebook i actually view facebook as pretty much like pure evil if i'm being honest i think they know exactly how damaging their platform has been to society as a whole but they take their profits over everything else and the funny thing is is these kind of like institutions that uh have been really bad for society at large have typically been reserved to financial institutions they're really really bad for society at large especially when things go wrong they they rip a lot of people off um you know they're very centralizing but now we have these massive social media companies that are
doing very similar things i think facebook is the worst example of it because they have such a large user base they don't really do much to to stem this kind of stuff from everything they let conspiracy theories and stuff run wild on their platform they let just like really crappy stuff going on in their platform and they also tune their algorithms to to kind of like um uh show people that sort of stuff as well uh all in the name of like making a profit which i consider to be pretty evil at the end of the day like making a profit in itself is not evil but if you know that your company is doing something that is like you know very very unethical is tearing at the fabric of society in general is just a you know basically a cancer on society and you
continue doing it without any kind of reforms i don't know i feel like uh i know i'm moralizing here a bit but i feel like that's uh that's kind of like a really shitty thing to do now uh i don't and for that reason alone i don't want facebook or you know zakamine is the majority control majority shareholder or facebook still i don't want him anywhere near it because what i feel like the position that zak is in right now is that he's got this massive company right he's got all this money he's got all this power within this company and we thought he's on his platform but he has no political power so he he he's not a politician i don't think he wants to be a politician but he has no political power over over certain kind of like sets of people now there is a new kind
of land being created in the metaverse units digital land essentially where you're gonna have different kind of like uh worlds within there and they could be you know countries or or just like distinctive worlds or distinctive lands and whoever owns those stands to both profit a lot digitally but also gain a lot of power depending on how the metaverse pans out so if you know if zach decides okay well i'm going to do a facebook metaverse i mean he's already decided to do this but you know if like if facebook basically designs like a totally centralized metaverse where they have people kind of like sitting in there doing all sorts of things in there but all of its own by facebook then in my eyes the metaverse has failed and uh we really really don't want uh it centralizing around someone like like zak here so i think continuing
to build out a decentralized metaverse is the top priority i think decentralization is going to win you know this is why i care so much about this centralization as well you know users may say that they don't care about it or people may say it might say that users don't care about it but at the end of the day i think that we should ensure we should not only ensure that users care about it but we should actually uh realize that a lot of users are just uninformed about these sorts of things and maybe they shouldn't even be expected to be informed about them so let's uh kind of like uh make the world in the image that we want it to be and then these users don't really have to worry about it i think in with the internet the internet started with this
with these ideals and then it failed over time because i i mean i truly believe it's because the internet didn't have a native value transfer mechanism which we now have with with crypto because what ended up happening was that the infrastructure needed to centralize uh because it was very expensive to run these sorts of things but also a lot of the web centralized because of the fact that there was no way to really decentralize them and there was no way to basically encourage people to run their own servers for example or to run their own email clients or to you know do peer-to-peer things the most successful peer-to-peer thing was actually piracy because there was an incentive there the incentive sorry i should say torrenting the incentive was to share files was to pirate content was to get free stuff right now i'm not
going to moralize about if that's good or bad or whatever there i'm just going to like say that that's the incentive that existed there so the incentive to build a decentralized web is monetary first and foremost because you can get paid for doing this you can basically you know for creators for example instead of using a centralized platform they can monetize their own content on a decentralized one and the money actually flows to them instead of flowing to these massive companies who just take all the or kind of like the the profits for themselves and then you can think of like more complex kind of things like file storage which as i said we had like a success in torrenting but it was successful for i guess like not the not the everyday stuff like there wasn't people running their own home servers uh they use
dropbox instead or they use google drive or whatever they use apple apple cloud and things like that instead of using their own home server yes there are people that do that but like the majority don't whereas if we have like a a service that we can offer to people that is decentralized so it's not it's like dropbox but totally decentralized something like a file coin or an r weave where there's no central point of failure where it's distributed and um you know you can kind of like leverage these tools to build other things on top of it then in my mind this is how we kind of like succeed at the end of the day so i think from from that kind of like uh point of view we can now decentralize everything and we should we shouldn't kind of like bow down to these
centralized gatekeepers and we shouldn't give them any more power than they already have so let's keep building towards a decentralized metaverse let's not make and let's not let zuck win at all i definitely don't want to see him win all right so danny ryan uh from the ethereum foundation posted a another update from indy's finalized series number 30 here basically reminding people that altair is is coming so this is a very short update but altair is the first eth2 network upgrade or the bigger chain network upgrade that is scheduled to go live on october 27th at 10 56 am utc if you are a validator you need to update your clients go do it now if you haven't yet if you do not update by this date and time you will basically end up on a
minority kind of network and you'll get punished for being on that network whether it be an activity leak or or maybe or potentially some other punishment so if you're a solo validator definitely go go upgrade yours to the lte releases right now if you are validating with someone else i you know if you're if you're concerned i would make sure that you know whether it be an exchange or through kind of like lidar or some other service provider make sure that they've updated as well and everything like that uh but you know normally they they will but yeah just uh very very important to kind of keep on top of these things if you're a staker so uh patrick mccoy puts together a great kind of like little i guess like it's not little it's a very lengthy blog post here called validating bridges as a
scaling solution for blockchains so basically uh patrick has taken the view which i kind of agree with is that it's all bridges when it comes to scaling ethereum because i've talked about bridges a lot recently and i highly recommend uh kind of reading this blog post here because patrick does a really really great job of breaking this all down but the reason why it all comes back to bridges is as i've explained before when you are sending funds to anything that's not ethereum layer 1 whether that be a layer 2 or a side chain you are using a bridge contract to do that and i've explained how some of these bridge contracts are behind multi-sigs some of them are completely centralized some of them are actual kind of like some of them are just iou kind of things where technically the a
bridge is actually the wrong word it's more like you're basically locking your funds on kind of like one side and issuing an iou on the other uh and then there's also kind of like the layer two bridges which uh basically uh allow you to if they're constructed correctly allow you to withdraw your funds from layer one even if the layer two goes offline but whereas with with side chains for example if the sidechain was to go offline you actually couldn't get your funds out of the bridge on layuan unless it was released by the centralized party if there was a centralized party there because there would be no way to send the message from that other chain back to ethereum and the way to bridge from the other chain back to ethereum to get your funds unlocked on on ethereum so this blog post goes through those sorts
of things and and and goes through kind of like the different kind of like uh bridges and validating bridges and all that sort of stuff sorry uh and like sequences layer two side chains i mean it's it's quality it's a a lot of kind of like information in here you should definitely go check it out because it's not just about bridges it's also about the layer twos and side chains and things like that but go give it a read but i think it's very very critically important especially if you're like a bridger like that meme where you're basically um making a lot of use of these of these different bridges whether that be kind of like the the bridge the native bridge itself or kind of like these third-party solutions that are building bridges it's critically important that you understand the differences if you're concerned
about your funds security which you or you know which you all should be um and it's also important to kind of like make sure you know what the road map of these bridges are as well like are they actually planning to fully decentralize over time can they decentralize can they actually function on their own from my view technically the only bridges that can uh you know function on their own is a true layer two bridge because uh the side chains can't because of the fact that the side chains rely on their own consensus the uh the kind of like validiums and the volitions can't be sorry the valydium i shouldn't say volition the validium or any kind of like off-chain data committee uh scaling solutions uh i can't because the fact
that you need access to that data to be able to withdraw your funds from layer one so from that kind of perspective really a true layer too like an optimistic roll-up or a zk roll up are the only uh kind of like uh as far as i know the only things that allow you to basically have complete security in your funds when when bridging across so yeah anyway go read this blog post i'm not going to focus too much here i want to get through the rest of the updates today so wallet connect has launched a brand new website and a brand new developer dashboard here and while it connect cloud is also live so uh and this is for their v2 protocol so they seem to be working on a uh kind of like v2 protocol which they which is the result of almost three
years of production use of their v1 protocol so um uh basically a wallet connect cloud i'm going to assume here if i just kind of like read through the post is is basically a cloud service for wallet connect which for those who don't know wallet connect is basically a way for people or i guess like it's more of on the developer side to integrate it but when it's integrated you're able to use like uh your mobile wallet to sign transactions on desktop for example which you know you just basically connect your wallet say it's like your um your rainbow wallet you connect it to the app on your desktop and then you're able to kind of like sign transactions from your mobile wallet on onto the desktop um app which is which i think is really really cool while connect is solely needed because it allows you to
basically have like a hybrid approach have you know your mobile wallet and have your your kind of like desktop as your interface for interacting with these sorts of things so it's really great to see them just keep building away here and release more and more new features i i think this is super cool and this is definitely more developer focused here this kind of like release but still this is stuff that's going to flow down to end users so cool to see this so spruce id the team that's working with ens for the signing with ethereum effort have created a list of eips and summaries of all the prior and current work uh on signing an identity so uh that informed their work on eip 4361 which is the erp for signing with ethereum so you can check it out
here basically they've got all the eips that they're you know in the past that kind of like works around identity and things like that links to it descriptions about it links to their discord channel as well so if you're interested in this sort of stuff definitely go check this out check each of these ips out i think they basically summarize it here as well so you can probably just read this blog post and get a really really great overview of the history i kind of like the future of signing with ethereum this is something that i'm super excited about and i always love getting excited about things that aren't you know your typical d5 or nft stuff because uh that that sort of stuff occupies a lot of people's minds most of the time like and people talk about defying of teas more than anything else
really uh besides itself right um but i think that focusing on these kind of like i would say signing with ethereum is a web 3 thing or like you know identity and kind of i i i sorry identity and um and signing and all that sort of stuff is definitely a web 3 thing so you know i i love this stuff definitely go check it out definitely i give this blog post a read it's got a lot of great information in it so connexxt announced yesterday that they're unveiling connext explorer which is a uh uh sorry the connect explorer which is called connect scan which is a community project built by uh the amazing queen hippo here uh coin hippo team that gives a real-time view of the connex network so this is actually really cool i love the interface of this
thing so you can see once it loads up you'll be able to see it more clearly well yeah it's going to load there we go so you can see here the available liquidity on k'nex's uh kind of bridge routers you can see the total volume uh over the uh the old-time total volume and the all-time total transactions as well so what i find really cool is the amount of kind of i guess demand there is here given that the liquidity is still quite low so you can see there's almost two million dollars of available liquidity but over 104 million dollars of total volume um all time and i think this is this is over just like a few weeks canexa's um service hasn't been live on mainnet for very long at all so and they're currently supporting a bunch of different chains like matic and and kind
of like arbitram arbitrarily xdi stuff like that you can see them here you can see the transactions the volume over time and you can also see uh the the liquidity the the transactions listed here and then if you go to routers you're able to see the the kind of like different pools or sorry different armed tokens and and kind of different liquidity for each of these uh kind of like pools which they call routers essentially and then you can just click here for transactions and it'll just be a list of transactions that are that are going on either prepared or fulfilled or things like that as well so yeah really really cool site here uh really cool connects um i guess network explorer and i'm really excited to see where they take this and and see you know what else they do with this i think it's gonna be really cool
uh because as i said like bridges are a huge thing i think you know as people use these things they're definitely going to want to be able to look up their bridge transactions to see what's happened what the status of it is and making that easy for users to do i think is very very important so element finance has announced a monster series a here 32 million dollar series a at a 320 million dollar valuation the round was led by poly chain capital and a16z and uh just as usual has become a bit cliche now i have to say that i participated in this round as an angel investor because i mean i'm very bullish on the project obviously since i invested in it i have been an element finance fan for a while now i mean i'm sure you guys have seen me talk
about it on the refill before i have retweeted a lot of their stuff i've been a massive fan of this project uh and for those of you who don't know what element finance is it's basically an a protocol for fixed and variable yield markets and i remember back when they first kind of went to maine that i explained how it all worked and essentially the trdr at least for their initial products was that you could split a token into its yield portion and its principal portion so for example if you stake with lido and you get like st tokens you could actually split the the yield portion which is whatever it is 5.4 percent on each staking from the principal amount so you could technically resell each of those um on an open market as their own kind of um as their own kind of like token
and kind of profit through that way and kind of do like interest uh uh sorry kind of like do interest rate rate swaps and things like that as well and i mean they have a lot of products i mean if you go to element finances uh twitter feed here uh after all the announcements of their their raises you can see they've got like products with curve like curve st ethers um and you can kind of get like uh an uh uh apy on it like a yield on it as well um and you know i guess we're always talking about it here and you can get these as a fixed rate yield as well locked in term not a variable yield which i think is very important a very important distinction too they've also been working with like uh with with mim as well offering terms there you can see
here that the crv mim term uh which er er net is netting a 37.37 apy at least that that's what it was eight days ago there maybe it's come down since then as it normally does so this i mean these sort of products are very very popular in the traditional institutional kind of like cider finance that's a big part of my kind of like thesis around element and why i invested in them is that i know that these products are huge in traditional finance but also you know what element does it's a very kind of like um quintessential d5 project is that it brings these more complex products that are only available to institutional investors only available to kind of like people working on wall street and things like that and it brings it to the everyday user this is that i mean that's
always what's exciting me most about d5 bringing these more kind of like exotic products that just people that that people like you and i have not have access to in the past to uh kind of like d5 and being able to i guess have access to them so so yeah i'm super excited to back element here and if you haven't checked them out i highly suggest doing so and they are hiring as well i should give a shout out there you can go to the link in their bio and you can also join the discord channel to to ask more about them uh too so yeah really really cool to see and congrats to the team on this raise so polygon have announced that outlier ventures and themselves uh have uh uh kind of like sorry have announced a accelerator program to to scale promising web 3 pro project so it's
called the polygon basecamp accelerator program and he's now open for applications and the program is set to start in early july oh so early 2022. so if you want to join this if you're like a web free project or building anything in the web 3 space or want to build something in the web 3 space and you need a bit of a kickstart here from like an accelerator a program you can definitely check this out uh just by clicking this link it'll be linked in the youtube description of course and you can also register for if you're for a q a session and also learn more about this at polygon's blog which is linked in the tweet which i'll of course link in the youtube description so this is i mean this is awesome i love seeing all these kind of like um business partnerships that that polygon is doing
with with other firms and other kind of like projects within the ecosystem because uh they really i mean this is their strong suit like as you guys know i'm an advisor to polygon but one of the strongest things about polygon as a team and you know this goes back to thematic days is that they really know how to do business development they are one of the most impressive teams that i've come across in crypto uh when it comes to business development they they land deals they release things they do really great marketing they they just know what to do when it comes to that sort of stuff and you know the funny thing is that skill is in very short supply within crypto there are a lot of teams who seem to lack business development uh they you know there are a lot of teams
that sorry there are some teams that do it really well but a lot of teams don't you know think of it as kind of something of an afterthought where they're just like oh yeah bd marketing community stuff we can leave that later until we've got like a like a product that we were actually happy with and the thing is is that i don't think that's unnecessary or necessarily a bad way of thinking about it but at the same time crypto is a bit different because uh essentially within crypto the community and like the business development and the marketing basically strengthens the product like nothing else especially the community if you have a really strong and good community you can build amazing products and you know it's hard to kind of like uh sorry it's not hard but it's difficult and it takes some work to
get to a point where you have like a good community that is distributed decentralized across the world but also works cohesively with each other and there are sometimes communities that may look really great on the surface but when you dig in you realize that the community is really cool to hang around and really cool to be around it feels like a party when you're talking with them and kind of like posting but they don't actually get anything done right there are communities that are cool to be around but then there are communities that get done and i think polygon is is definitely in that camp where they just get stuff done they release stuff they get products to mainnet they don't dawdle i mean they have so many products as well so that's a big reason why i'm bullish on them and and why i'm very
very proud to be an advisor to them is that i just love teams that ship i love anyone that ship not even just teams like individuals as well and all these kind of like projects if if you're if you ship and you ship good products people actually use well then uh you know your legs ahead of your competition at the end of the day there's a lot of projects out there that just don't do this and it kind of i guess puzzles me from time to time but it makes sense i mean 90 of all businesses fail you can expect the same failure rate in crypto in terms of like protocols and projects and stuff like that crypto doesn't solve the uh or doesn't make it easier for a project to succeed it makes it easier for people to start their own project uh especially
within finance but it doesn't give them kind of like all the tools that they need to succeed 100 of the time it's definitely i would actually say the failure rate for crypto projects is probably higher than the failure rate for normal businesses at this point in time simply because there's so much experimentation going on and there's so many different projects spinning up and not all of them can win that's just not how i guess like how society works in general so yeah but anyway a bit off track there but definitely apply to this accelerator program if you're building a web 3 project or you're interested in building one as well all right so just a quick shout out here dune analytics has a weekly newsletter that they just announced called dune digest so this weekly newsletter will include top dashboard breakdowns data stories on nfts d5 and more and amazing
work from their creators so they're saying here that they're planning to pack this with value and send it out every thursday so if you're interested in that you can check it out and subscribe at doon digest.substance.com of course this will be linked in the youtube description but i think on that note i'm going to end it there for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone