ETH market talk, DeFi 2.0 and more - The Daily Gwei Refuel #230 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel worry cap the latest news in the ethereum ecosystem i'm your host anthony sosano and says the 14th of october 2021 all right everyone let's get into it so you'll see here that i have the eighth usd chart up now i don't really talk about price too much on the refuel and i don't really look at charts at all i remember when i first started doing the review i did like a market recap every day or at least an e3 cap every day and i quickly stopped doing that because it just wasn't relevant to the content but every now and again i do want to kind of like just talk about price talk about what's going on especially on days like today where the price is actually moving up pretty quickly on eighth you can see

here at time of recording the price is at three thousand seven hundred and thirty four dollars and it's kind of broken out of a range that uh that ether has kind of like been in for a little while here you can see that the last time it was at this price uh was ba all the way back here in september so about a month ago so you know it's kind of broken out of that range it seems to want to to keep going up right like i don't know what the price is going to be when uh when this video gets published or when you watch it or whatever um but still it's it's positive movements here now obviously i think we're going back to all-time highs and beyond right now i don't think the bull market is over far from it and i remember saying that you know all

throughout i guess like the refuel over the last few months especially when we had that big crash i said that i i mean i think i remember saying that i it was surprising how far we had come down and how quick we came down but i remember saying that i don't think the bull market was kind of like over i i just don't think that um people are leaving the industry like they used to i think there's just too much going on across like every sector d5 nfts layer twos you know whatever like all the stuff i talk about on the refill all the time so from that perspective i have never turned bearish i mean it's it's pretty much impossible for me to turn bearish to be honest i was still like really really bullish all the way down to 80 during 2018 um and still all bullish

during 2019 so maybe maybe my kind of like opinion on that is is not the best but just generally i think that um there's just so much to look forward to within ethereum that is actually have it gonna have a tangible effect on the price because look we we are burning each right and we've been burning eighth since uh since august it's been i think 70 days uh today and we've burnt over 500 000 of it and i've said before that i think the burning of eighth people overestimate how much of an impact it's going to have in the short term but in the long term they underestimate how much of an impact it's going to have because it just adds more and more deflationary pressure to eve it just takes eight out of circulation and then when the demand increases you can have these really

quick spikes in price because what ends up happening is that you have such a sudden demand increase and there's just not enough supply right people just aren't selling because they're using the eat for various things whether that be in staking or they're using uh kind of like their ethan defy in general or they're just holding it i mean there's so much stuff to do with your eath right and especially i mean there's eight million eth in staking right now um the issuance is basically halved because of the fee burning so we basically had our own harvening and then we have a lot of catalysts coming up like the merge which is going to as i've described before drop issuance pretty much instantly by 90 which is and that's not just dropping issuance uh that kind of like doesn't get sold most of that gets sold because

it goes to miners right miners have costs to cover and things like that so i mean i've explained all this before but eth is in a really really amazing position right now i think we've got like the layer 2 catalyst coming which is an amazing narrative for eth because i mean one you can't really buy anything else to get exposure to the layout ecosystem there's only a couple of other tokens out there that will give you exposure i've gone through them before obviously um you know matic will give you exposure to to kind of like uh what they're working on but optimism arbitram starkware zk sync they don't have tokens yet and you know zk sync did say they're going to do a token but they didn't give any dates or anything like that so maybe we don't see these protocols doing tokens till early next

year q1 or q2 so really the best way to get exposure and again this is an investment advice but the best way i think to get exposure to just the whole eth ecosystem right now or the theorem ecosystem is to just buy eighth right and that's what i've been doing uh you know even though i'm uh i'm kind of like seed investor not seed invest i'm like an angel investor in some of these layer 2 stuff and some of these bridges and things like that i still uh you know i'm buying eighth of course i'm buying it like i'm buying every day and actually um at around 3 500 i bought a lot more eath than just my daily buys i i i was like okay well i am feeling like really really good about eth right now it's been consolidating in this range for a

little while um it keeps bouncing off 3400 it seems to want to keep that level so i'm like you know i feel comfortable dropping a lot of money on on eath right now and this is eight that's going into my long-term stack as well it's not like i'm trying to trade eighth or flip it or whatever but i i don't like buying into you know buying a lot into manias like i'll do my normal daily buys but i don't like putting in a lot of money when the prices i feel is overheated like i wasn't putting in a lot of money when eat was four thousand dollars last time right and i wasn't putting in a lot when it was was at its all-time high or anything like that but uh when it came back down i bought a lot at 3000 back then i know it went lower than that and

i bought i bought there as well um and you know i'm not just buying it with like uh money that i got in the bank account or anything like that i'm i'm rotating out of other investments that i've held too into eth um especially if they're kind of like in long term capital gains which means i get like a tax discount where i am it's much easier to sell things uh in that in that kind of like regard there but uh yeah i mean i just feel like eighth is not only the best way to get exposure to i guess the later two ecosystem but just to everything like think about the amount of tokens there are right now that will give you that will give you exposure to different things and i'm not saying that i'm bearish on like every token but you know look at d5 for

example to pick the right default token that outperforms ether over the long run is actually very very hard to do there's so many tokens and there's so many projects there's so many changing narratives i mean right now we have like this d5 2.0 narrative that's taken hold and uh you know if you you know you you if you buy right now you may be buying into like the the kind of like local top of this d5 2.0 run and you may kind of like um kind of like have it where you underperform any sort of thing and then you have like dowels and social tokens and stuff like that which are again very hard to pick the winners and if you're a long-term investor i don't know i just feel like it's just very hard to pick the winners and i've actually made investments longer term investments in d5 tokens

over like a period of a year or more where i've actually come out on the other end with more kind of fiat but less eth because depending on where you are in the world if you're taxed on on the profits then you're taxed on the uh fiat profit you're not taxed on the eighth profit so even if you have outperformed eighth by a little bit you can end up ending up with less ethan what you had because you have to cover taxes if you don't have the money to cover it anywhere else like um you know so when i if they say i put like you know 10 8 into something as an example and then i make 12 out of it well i mean i still have to pay kind of like tax once i cash it out so that 12th could end up being like 90

instead to cover the tax bill so it gets really murky especially i mean if you're in the us and and uh some parts of europe and and where i am obviously in australia if you're in places that don't have capital gains taxes i mean you're you're laughing right and lucky you but uh unfortunately i i don't have that luxury so for me that's kind of like how i view things but again not investment advice but i mean you guys know this i've said this plenty of times on the refuel and i talk about this in the discord a lot where and i'm in the trenches i'm buying eth right alongside everyone else like i am not trying to kind of like uh game the system or just play really speculative with that i'm happy just stacking eth i think as i've said before i think long-term eighth is

going to a hundred thousand dollars plus it's not gonna happen overnight of course you know i've said that it's good five to ten years sort of play but in my mind you know uh for things to outperform eth going to 100 000 like how many projects are actually going to do that because it's a lot of projects that short term the tokens will do really well and then long term they'll just bleed for one reason or another a lot of the projects will fail or uh they'll a lot of people just won't want to hold the tokens through uh periods where the projects are kind of like having slower growth and stuff like that whereas holding each gives you exposure to everything and a lot of the big money the institutional money they're not buying tokens because they're a liquid these a lot of these tokens they can't

even get exposure to them if they wanted to so they're just going to buy eve and we've seen this play out like they're actually um i think raul said on a video the other day a role poll he said he basically said that a lot of institutions are now skipping btc entirely and going to eth and i think a main reason why they're doing that is because i just see all the activity happening on the ethereum network and they're wondering to themselves okay how do i get exposure to this well they can't buy any of the tokens uh for multiple reasons actually i think one of the big reasons is that they're a liquid but another reason is that they don't have regulatory clarity whereas eight has some regulatory clarity it also has a futures market so that adds more legitimacy to it so i

think that institutions are just basically going okay well here's the easy bet and they're buying eighth um for those kind of like reasons there but also just generally it it's a definitely a much safer asset as well they're not gonna like could you imagine some retirement fund uh through like a proxy fund buying into some uh some some new kind of like default token that yeah maybe it goes up like maybe it's gone up like 10 times in a few months and then it just crashes like 90 from there or goes down 90 or something like that which very often happens they're not going to do that right so they're going to go for the safest assets and i think they were obviously they started with btc and i remember saying on the refuel i think it was last year like later last year um that yes

okay or even even when i started doing these videos um yes okay like institutions are buying btc but the leap to eighth from here is like minuscule and they're going to be buying a lot of eighth and they have been i'm sure that a lot of them have been stacking um you know raul uh royal poll does a lot of um kind of like talks in education for the traditional finance world so i'm sure he's been pushing uh ethan to all these people as well because he's big on eth so i'm not surprised to to see eth doing doing this well at all and you know just generally as a market catalyst right now coming up over the next couple of weeks there are bitcoin etfs that are apparently going to get approved and it's actually looking like some of them will get approved they're not spot etfs

their futures etfs and i don't know how much demand there actually is going to be for these products i don't know how much volumes they're going to see but i think the narrative is very powerful uh because as far as i know these etfs actually won't go live until like january or something like that or february but they'll know if they got approved in you know over the next couple weeks so that should be enough i guess to to kind of like reach you know get the market get btc and ether over all-time highs and keep the market hot for a while but i think ethereum has a lot of its own catalyst it doesn't rely on this sort of stuff and ethel get an etf in the u.s um quickly after btc does there's no way it doesn't um but yeah there's just so many

bullish catalysts on the horizon that i just i i you know normally i can't be bearish but like right now i'm just finding it impossible to be bearish so yeah anyway that was 10 minutes of market talk from me i rarely do it but i feel like once in a while i should give my kind of like thoughts on on what's happening there because i i do think the market is incredibly important for crypto i know a lot of people say oh you know don't talk about the prices that's distracting i mean come on like most of the crypto is is speculation and people are here for the money like you can't just you know tuck it under the rug and be like oh well we'll just ignore that no you got to talk about these things but i mean the refuel or the daily

weight channel is not a price speculation channel it is a ethereum ecosystem coverage channel and updates so um i just give price kind of like talk sometimes but anyway hopefully that gave you a bit of clarity i'm going to move on to some of the updates from the last 24 hours so brian armstrong obviously the co-founder and ceo at coinbase announced that over 1 million people have signed up for coinbase's nft platform since they launched yesterday so basically within 24 hours 1 million people signed up and you know this is pretty crazy right i mean there's probably some people in there signing up with multiple kind of like email addresses so that they can get on the wait list um with multiple email addresses and get and use the platform sooner but let's say like let's let's let's take the most conservative approach and say that only

half a million of these signups are actually real people um that's a massive amount of people still like i think open seas unique users on ethereum or at least total uh ethereum addresses that have interacted with openc not not users i think it's four or five hundred thousand and i can tell you right now there's multiple um there's there's people using multiple addresses there i mean i've used like at least five different addresses on openc for various different reasons so um from that perspective and there's probably a lot of people trying to gain a potential airdrop for openc as well so there the fact of the matter is coinbase has a massive massive retail user base that have probably been hearing about nfts but just don't know how to get exposure to it they are going to be a force to be reckoned with in the nft

space and i put out a tweet today speculating that maybe openc will do a token to kind of like claw backs in market share but i i'm not sure and i don't know if doing a token actually helps them because coinbase is on boarding a very very different type of person to what openc has probably traditionally seen in terms of like just this real kind of like newbie retail user who doesn't want to jump through any of the hoops they don't even want to install metamask they don't have to worry about gas they don't have to worry about signing transactions and wrapping their ether and all that sort of stuff they just want a really really simple nft experience and i think that's what coinbase is going to give them so we'll see what happens here um i'm you know i'm sure they're gonna have

many millions of people signing up and they've got like tens of millions of monthly active users so those people are probably all gonna at least try out the nft platform uh at least once but uh this is this is crazy i mean this isn't just crazy for coinbase this is also crazy for wider crypto like the more people that get involved with nfts the crazier it's going to get because you don't just stop at like nfts right you don't just stop at one part of crypto if they get exposure to this and they really enjoy it they want to do more just more and more people are going to be coming on chain especially as coinbase starts integrating some of these layer twos as native kind of um withdrawals they've already committed to doing the polygon pos chain they're gonna do arbitrary optimism and stockwear and zk sync and stuff like

that they're gonna do all of them so we're going to see such a large influx of users just come from from coinbase because believe it or not uh 90 90 of people i would say that you have used the centralized exchange have definitely not used anything on chain before and i think it's because it's just friction for them like people that are coming into crypto especially through coinbase are used to like just the one-click stuff like if you're selling buying or selling things on openc it is far from a one-click experience it takes a lot of clicks especially if you're selling something you have to like approve the transaction or sign messages and wrap eighth and do all this stuff and people don't want to do that and buying uh buying kind of like nfts is also cumbersome because you have to kind of like do it through

metamask have gas gas and all that sort of stuff and obviously opens is on the polygon pos chain as well but still like it's it's the same it it has cheaper fees but it's the same kind of experience uh in terms of like uh the friction that there is there so i'm sure as uh you know the on-trend ecosystem abstracts away a lot of this friction we're going to have coinbase on boarding these people in and it's just going to grow the ecosystem so much larger they're not even just going to stop at nfts d5 is going to keep growing people are going to join dows they're going to do stuff with social tokens they're going to do stuff with with all these sorts of things it's it's crazy i mean as much as i think that you know d5 is going to disrupt the you know

these centralized exchanges and services they still play a very very pivotal role in being the front door into crypto and you know robin hood announced the other day they're going to let people withdraw their crypto to their own wallets that's another key driver they're another key catalyst to getting more people on chain uh so yeah i mean this is this is crazy right it's going to be a really really great growth going forward i think all right so i didn't talk about paulina yesterday on the refuel but today they put out an update uh basically i guess like a personal update where they uh kind of like put out these blog posts uh called rollups data availability layers and modular blockchains introductory meta posts which is basically a collection of all of their blog posts about modular blockchains and related fields here so i mean obviously

definitely go check it out read everything polynomial does um but i think the feel that i got from this thread is that polynomial is probably not going to be tweeting as much and not kind of like doing as much writing on this topic because they are satisfied that they've been able to essentially change the narrative around blockchain scaling you have obviously myself uh talking a lot about modular blockchains now you have the bankless guys pushing the message a lot of people within the ecosystem i've seen pushing the message so i guess polly now just kind of feels like they you know came out of the ether dropped all this alpha and all these messages and all these kind of like um new ways of thinking about this stuff on us and now we're just kind of running with it which i think is awesome to be

honest like um i i actually think that's a that's a really cool way to do it where you just drop an idea in it's kind of like what satoshi did right like they dropped an idea they dropped bitcoin obviously they dropped the white paper they stuck around for a little bit building it out but then they just disappeared after it and they're just like you know what guys like i feel like you guys can handle this on your own it's probably better if i step away um and you guys just take it from here i think that's what paulina seems to be doing here i'm sure they're going to be still posting things and still posting on reddit as well under the handle librosis which they've been kind of like using for quite a while there uh but yeah i'm gonna miss uh paulie know if

this really is kind of like uh them saying they're gonna take a step back for a little bit uh but i'm sure they're gonna keep posting stuff and i will definitely keep you guys updated on it but i am just like super grateful to paulina for kind of like uh i guess i said this in the discord channel the other day i basically had all these ideas bouncing around in my head of like how sharding's going to work with layer 2s and the roll-up centric road map and kind of data availability and all this sort of stuff but polynomial was the glue the and that was the glue that basically introduced modular block chains to me and kind of like that way of thinking so i was able to kind of formulate it all in my head and and kind of like start passing on the message to you guys in a

really easy to understand and digestible way so i'm just really thankful for that as i mentioned before uh this is like the first time that i've i've you know not the first time right but this is the most bullish i've ever been on ethereum and paulina has played a really really major part in kind of like pulling that all together for me so that i can kind of like continue educating you guys on that so yeah a little bit of a sign off there for for paulina i hope to see them keep publishing things but uh we'll take it from here my dude all right so ethereum based layer 2 tbl's uh the tvl is back at all time highs so you can see here on the l2b website uh we had the tvl kind of like spike up to 3.5 billion dollars after the albatroom launch then it came down

because i think a few of the arbitrage kind of like uh ponzis or like yield farms are kind of like rugged so people are like oh well i'm going to take my money out but then it's just been trending back up and it hasn't just been arbitrary that's been growing there's been a bunch of others growing as well including idea decks of course and optimism and a few a few other new entrants in there too but it's just great to see and i know i know i've said tvl is like a poor metric for measuring kind of like usage of of kind of like on-chain things but i think that when it comes to layer twos right now at least it is still a really good way to measure what kind of interest there is from people to kind of like bridge into these layer twos

because um pretty much all of them don't have uh except i guess like diy dx but i'm talking about like arbitrary optimism they don't have native token incentives yet where there's no rb token there's no opti token or anything like that they do have projects on there that may be offering token incentives but still like i think most of this is just the appetite of people wanting to go somewhere where they're getting cheaper transactions um but also and cheaper and faster transactions i should i should say but also like a familiar very familiar ethereum like experience so really really cool to see the tvl growing um i i know are you guys a a data pump i was actually going to do it on the weekend believe it or not i know i've said this a million times but i had my vaccine on friday and then i felt

like really fatigued over the weekend from it it's one of the side effects um unfortunately so i didn't get around to it um but there's a lot of cool data to pull out of the il-2 ecosystem that i really want to pull out and i actually had someone make me a dashboard on doing analytics for looking at um kind of like uh how much the l2s are paying in gas to to our one so i'm going to go over that as well so coming soon maybe this weekend we'll see i will see how i go there there is the ama this weekend um as well just as a reminder on saturday night australian eastern standard time eastern daylight time it's a bit different because of daylight savings this time but anyway cool to see l2s keep growing here um and speaking of l2s as well a new app has been launched on

arbitrary future future swap v4 mainnet beta is now live on on arbitram so their announcement here says futureswap v4 is the most competitive flexible and economically secure perpetual trading protocol uh so it in this update is 10 times more liquid for traders 30 times more capital efficient for liquidity providers they say it's more economically sound no need for an insurance fund more fees to lps fully composable and they have exotic assets support including nft so if you want to kind of like learn about future swap how to get started how to play around with that and the link to go play around with it which is just app.futureswatch futureswap.com it's all in this uh this blog post here but really really great to see them on arbitram i i remember

saying that futureswap was one of the um kind of like apps that are just going to be natively launching on l2 skipping l1 altogether that's the trend going forward uh guys i don't expect it to reverse at all i don't expect new projects really to launch on layer one um especially as the costs keep coming down on the layer twos i mean arbitrary announced nitro the other day optimism has their ovm 2.0 going live on testnet today actually and in two weeks it'll be live on main net and everything if everything goes well so super super exciting times uh uh on on the l2 front so uh definitely go check out future swap v4 here so the uh matthew graham from the index co-op posted i guess like an uh a kind of update on the index cops growth

because they it turned one year old back on the 6th of october here so gross uh profit uh improved 100 11 month on month so the best uh most profitable month a month to date was i think last month for the index co-op um and liquidity mining expenses are basically non-existent here so uh you can see here that in september the eth2x flight product accrued 322 000 in fees on 105 million dollars of tvl um and alpha they may have there are many uh flies or flexible leverage indexes in the pipeline you can see a nice little chart here there you know matthew in this thread matthew has like kind of like a comparison of competitors you know where are the competitors basically they're on the bottom left here not very

big and then you got like dpi and f2x fly being really really big and then uh what's in the treasury you can see a lot of index tokens some usdc and a bunch of kind of like index products and then a bunch more information here so you can check out this uh this thread if you want to kind of like information on what's going on with index cop disclosure of course like i hold index tokens but i mean they've just been steadily growing like amongst all these d5 2.0 marketing sciops branding whatever's got been going on right now um these projects that came out before and may not be considered d5 2.0 which i still think is a really dumb term but they've been growing they've been kind of like kicking ass on the product side they may be moving slower than other projects because they don't have massive

liquidity mining programs but they're building for sustainability i think liquidity mining has its place but there are so many projects that kind of like do massive liquidity mining programs and just ruin their long-term sustainability and health and i'm glad the index co-op hasn't done that because i wouldn't i wouldn't want to see the index car basically ruin its uh it's kind of like health and sustainability here by basically saying well we need to grow really fast let's do a really really insane liquidity mining program attract all these mercenary farmers and then once they're gone we're left with basically nothing no i never really liked that approach and i know there's a lot of people right now on twitter being like oh dfi 2.0 is going to kill default 1.0 but okay maybe i should go on about these terms for a little bit and i'm going to

answer it on the ama on saturday exactly what dfi 2.0 is but just to give you a quick breakdown here of exactly what's happening it's marketing there's no such thing as d5 1.0 versus d5 2.0 yes there are newer products that do different things to other products but they're different products like it's just it's so it's so weird with how these narratives take off and i know it i mean it's actually not too weird when you think about the incentives it's just to pump bags really if i'm being honest but if you look at something like uh there's been a project recently called abracadabra on the native token is spell and you know everyone's memeing it as like the maker killer when in reality it is not really the same product as maker and die so you have in the abercro system you have a

new stable client called mim and the reason why the kind of like a cadabra system is earning so much revenue out and kind of like offering such a high yield is because it's actually using the collateral that's backing the mim stablecoin uh to yield farm maker doesn't do that the assets in maker are not used to yields fund they're just sitting there backing the the dye that's available so already mim and die are completely different products you can argue whether um abracadabra's approach is better than maker's approach to a you know a collateral backed stable coin and all that sort of stuff but i just i i just think comparing the two just really is disingenuous and trying to meme it as like d5 2.0 versus d5 1.0 in like boomer d5 versus like new hdfi i just think it's unproductive i think

that actually on the regulatory front there's a i mean there's a reason why these are kind of like older protocols move slower and also don't do these like ridiculous ponzinomic liquidity mining programs is because they are big targets for regulators look at like maker uniswap compound they're all us-based kind of like companies or sorry us-based teams um and and at the end of the day they're acting as a regulatory shield to enable these kind of like quote-unquote d5 2.0 protocols to basically do whatever they want and to play cowboy with with the law um now of course i've said before how i think most financial regulations are crap and i don't like them but at the same time it doesn't matter what i think if it's the law and you can be prosecuted for it then you will but a lot of the smaller ones aren't

going to be targeted or small defect projects aren't going to be targeted because the regulators are busy targeting the big ones so the big ones are just acting as a shield so i think really there should be some some mutual respect between the two there shouldn't be the kind of like this fighting um between them but it's fine competition breeds innovation competition's good for end users uh but i just i i hope people know the risks of playing with these newer protocols because at the end of the day uh the risks are actually pretty high for these newer protocols especially ones that are uh kind of like play with the collateral or do something called pcv protocol controlled value the risk is higher because the value can move around and the cloud will move around so depending on where you are in the ecosystem whether you're holding holding the asset

that's backed by that collateral or whether it's your collateral that's actually being used here you just got to be aware of the risks and of course on top of all that you have smart contract risks and everything too to consider so yeah a little bit of a rant there but as i said i'm on the ama tomorrow i'm going to go over exactly what d5 2.0 is uh kind of why people are calling it that why they think it's kind of like the future and all these sorts of things and differences between the different products uh but yeah i'm running out of time here so i'm going to move quickly through the rest of the updates so little koan from hot protocol is teasing that uh each support on arbitrage coming very soon now this has been delayed i think a few times at this point but it's

coming so you'll be able to bridge into uh and out of arbor trim with eth uh using hop protocol very very soon which is really cool to see uh uh poly uh curve now supports uh curved factory pools on polygons pos chain so users can now deploy their own metaphors on curve in just a few clicks on on polygons so you can check out this i think this is a blog post or at least probably the curve website yeah you can check out the the kind of like curve website there um for for kind of uh uh kind of like how to set it up you know pool type create your factory pool with a token address and everything like that as well uh moving on to uh slingshot so slingshot has released a web 3 troll box uh it's now live on their website so for

those of you who have used some of these uh centralized exchanges from back in the day like btce poloniex i think cripsy they used to have something called a troll box which is basically just like an open chat uh a chat message uh box on the site where people could just basically ship post and a lot of the time was just people pumping and dumping coins it was like an unfil completely unfiltered twitter real time it was actually quite fun to be and i remember getting banned from the btc troll box back in the day i think in like 2013 i got banned for like 100 days or something and i was really mad because like i love being in the troll box just posting so you know now you can um now you can do it on the slingshot website here so definitely go check that

out uh and the last thing to talk about was this kind of i guess chart graph whatever you want to call it the justin drake posted yesterday about the base gas price distribution so you can basically so to explain this chart um justin likes to refer to i guess like these things as like the ultrasound barrier so this is basically where uh eath becomes deflationary so at 27 way eight eight is basically deflationary and kind of like anything above that is a nice little bonus so the average gas price over the past few weeks has been 77 way which is ultra mark 2.8 uh i i think yeah with um uh kind of like we we with the validated uh sorry with with my million validators um if i'm i'm if i'm understanding this

correctly but i actually really like how this is shows i guess like a a nice distribution of um of the gas prices over time as well and kind of like what the average gas price has been as you guys know i i think i've explained this a few times too the gas prices on layer one are probably not going to go down uh you know in any material way and it's just gonna be layer twos using them so uh it does nothing there's no need to worry about this as kind of like an end user um once we have like the l2s running up and running and everything so i think it's really great to see that there's such like a coolest distribution here and i expect this to smooth out even more like once we have layer twos as the dominant kind of like

gas guzzler of layer one the uh distribution of like gas prices are gonna it's gonna be so smooth the the efficiency of blocks is gonna be amazing we're gonna be able to squeeze so much juice out of ethereum's blocks uh and it's gonna be much better than the kind of chaos that we have today so i'm really looking forward to that um but anyway i think that is gonna be it for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone