Ethereum censorship-resistance, The Merge updates - The Daily Gwei Refuel #428 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delegate refuel work up the latest news the ethereum ecosystem i'm your host anthony susana into the 16th of august 2022 all right everyone let's get into it so another 24 hours worth of i guess discussion around tornado cash censorship all those sorts of things uh that i guess i spoke about in the refill yesterday now i'm gonna be talking about that uh for for a little while here on the refill again today i think this is very important uh there are time stamps if you just wanna skip to some of the news from the day but i think pretty much like what has everyone's attention right now is this uh kind of is this kind of censorship stuff right there's not really much else that's getting kind of got most people's attention and i'm not even just talking

within a theory i'm talking like all across crypto right so i put this tweet out today which i think sets the the tone of what i want to talk about where i said i want to be very clear on this if the ethereum base layer ends up engaging in permanent and permanent is the kind of opportune word here permanent censorship then i will consider the ethereum experiment of failure and i will move on thankfully i believe the ethereum community is strong enough to fight off base layer censorship now i'm not going to rehash what i said yesterday but i really do mean this guys like if for some reason the ethereum based layer engages in permanent censorship meaning that there are addresses on the network that permanently cannot be interacted with due to validators uh kind of like post merge censoring those addresses or censoring those kind of like smart

contracts or anything like that i will consider that to be an epic failure of ethereum to be honest and ethereum is an experiment right so is bitcoin like all of this is an experiment none of this is guaranteed to work but we obviously are all betting that it will um but i would i would leave and i wouldn't move on to another crypto because there's actually nothing else that interests me like ethereum does not even close um and certainly not bitcoin like some of the i said in my second tweet here some of the bitcoiners were doing victory laps and i said you know bitcoin is prone to the same censorship risks as ethereum is it doesn't matter if it's a period of stake or proof of work uh and if i left ethereum i wouldn't be moving to bitcoin i'd rather leave the industry

entirely than do that and the reason why is because i believe bitcoin's social layer is fundamentally broken uh and i don't want to be part of that i would actually hate myself being part of that community i i look at it and i'm just like i don't understand how anyone can be part of it i feel dumb i every time i read anything coming out of that community so um without ranting too much there i wouldn't go to bitcoin and there's nothing as i said there's nothing else that would actually interest me or that actually has my attention like ethereum does uh so i would move on i would just leave the industry and i think that's true for a lot of people we are in this to make ethereum the thing that succeeds for a multitude of different reasons i've gone through plenty of them over the years on the

refill so i'm not going to rehash that here but the good thing is as i said i think the community and the social layer that we have is strong enough to fight off this base layer censorship i think that there are a multitude of things that we can do to fight this from social signaling which we've been doing a lot of lately to technology uh kind of like improvements such as pbs and cr lists and other things that i've spoken about before so i don't think the risk is very high here of permanent censorship at the base layer uh and all the other layers guys like they're gonna have to work on in parallel like i'm not gonna leave the ethereum ecosystem because some front end decided to censor what they're what they're allowing users to do that as i as i explained yesterday there are

different levels here right the different kind of like layers to it all i care about in a kind of like in a maximalist way is the base layer everything else built on top right we can it's much easier to decentralize that than it is the base layer the base area is actually quite hard to decentralize and keep decentralized especially when you have kind of like big entities in control of a lot of stake and a lot of mining power and this is what i mean by like bitcoin and ethereum being similar in censorship risk it doesn't matter if it's mining or staking at the end of the day if you have large entities in control of a large amount of the stake or hash power they can engage in relatively easy censorship whether they want to do it or whether they're being kind of forced to do it by a nation

state so i just don't understand why bitcoiners don't make this connection maybe they do and they just don't want to make the connection because it makes ethereum look good i don't know but that's that that's setting the tone for the rest of the stuff that i want to talk about but there is an update here i guess our blog post that uh coin center put out around the tornado cash stuff with with uh with ofac you should definitely give this a read it's not too long of a rate but it gives a lot of good context around this and why coin center believes that what ofac has done is actually unconstitutional and potentially uh kind of like illegal and can be challenged in the courts which is what i think coin center is setting up to do which is what we want to see right

we want to see this challenged in the courts and we want to basically set precedence here that uh you know we already have precedent we already have um this thing kind of like in the law that basically said says that code is speech and speech is protected by the constitution in the u.s so if code is speech then uh you're not you know you you you couldn't you can't sanction code right that's the whole argument basically distilled down into the tldr this is gone as i said this is before as i've said before this is gonna have to be fought in the course this is not something that's gonna play out overnight and this is a fight that the whole of crypto is uh kind of like fighting bitcoin ethereum every other chain out there it's just that ethereum is as i explained yesterday gone to the

point where it actually kind of like is a concern or a threat to nation states and they're sanctioning it like i don't understand why that's actually a black mark on ethereum that's actually a huge validation of ethereum as a technology and as a as a kind of like uh as a platform of what we're trying to build here we're trying to build things that give people more freedom right and i know people will make the argument that oh tornado cash was used for money laundering it was used by north korea and all this sort of stuff that's orthogonal to the point that i'm making the point that i'm making is that we've actually been able to create tools that are literally unstoppable like tornado cache is still running on the ethereum network it is still immutable right the contracts are still there you can still interact with

it if you want to um you know yes okay you run the risk if you're a us person's obviously of up to 30 years in prison and all these fines but the point is is that it's still there right the point isn't that like the i guess like meat space law is restricting you um nothing is restricting you uh from kind of like interacting with it on the technology side and as i said like earlier the base layer censorship is the only thing that could stop you from using it if it was kind of like a permanent thing that most of the network was complicit in most of the validators but complicity in but we have a whole social layer and we have like a whole kind of like thing a social contract behind that that uh doesn't guarantee but gives you really high insurances assurances that

ethereum is going to be censorship resistant as i said the same is true for bitcoin the same thing is true for all the other chains it's just what degree there is here people will say oh you know proof of stake and uh is kind of like more centralizing and less censorship resistant than proof of work i think that's kind of like orthogonal because for example and i don't actually don't think it makes sense at all you could have a blockchain that has one minor on it right one kind of like entity mining the entire chain well you know it doesn't matter if it was proof of work or proof of stake they could censor like they'd be in control of the whole chain right so it's all about how much the stake or hash power is distributed with bitcoin there is a few mining pools that can if they wanted

to i'm not saying they're going to do this but if they wanted to they could censor transactions right if they were forced to they could send us transactions yes miners can change pools right but that's the same in staking yes a coinbase could sensor transactions yes binance could but once withdrawals are enabled users can unstake and go stake somewhere else that's not censoring them right so and obviously uh i guess um putting your stake into centralized providers uh is is a risk that you take on as well just like if you're renting hash power from someone that's a risk too right you're giving your money to someone and if they don't kind of like mine for you or if they kind of like just take the money and run that's that's a risk there as well so there's all this kind of like risks associated with things that you do

when you're kind of like delegating your hash or delegating your stake uh that you have to kind of like take into consideration that's why i'm always a big advocate of solo staking or staking through decentralized kind of pools and things like that so i just wanted to kind of clarify that as well there uh but yeah go give this blog post to read i'll link it in youtube description below uh the next thing i wanted to talk about was this poll that eric wall put out today which i think was really great he said question for the ethereum community if a majority of stake chooses a in this poll will you consider the censorship and attack uh essentia consider the censorship an attack on ethereum and burn their stake via social consensus which is option x option y is tolerate the censorship and he's quote

tweeting lefterasyar who uh kind of like has a i think i don't know if there's a poll here or basically uh there's a kind of like a question here that says in a question for all the major staking providers if regulators ask you to censor at the ethereum protocol level with your validators will you comply and censor at the protocol level or shut down the staking service and preserve the network integrity so if they choose a comply and censor at the protocol level um would we consider this a censorship attack on ethereum and burn the stake via social consensus this is what i talked about yesterday basically social slashing um or would we tolerate it and the poll i mean overwhelmingly is in favor of x right like you can see here that y or i mean there is a show results option for people that obviously

didn't want to vote for x or y but just looking at x or y in a vacuum you can see that x is at 61.8 percent and y is at 9.3 percent so overwhelmingly the ethereum community is in kind of like um in in favor of considering this a censorship attack and burning the stake via social consensus and this brings up interesting questions about what these staking service providers would do let's take coinbase as a prime example here because they're a us-based exchange and they have a lot of stake delegated to them or they have a lot of stake kind of like in they have a lot of control of a lot of validators through user stake if they were forced to buy the us government but right now the sanctions on tornado cash don't force them to do this but let's just say in the future they were forced

to do this if they were forced by the u.s government to censor transactions at the protocol level with using their validator share and they kind of like started doing this and the community has socially signaled and told them hey if you do this we're going to slash you like we are literally going to come together and we're going to slash you and kick you out of the network because what you're doing is an attack on the ethereum protocol um that social signal there is extremely powerful it depends how seriously coinbase takes that but i think the ethereum community is big enough and and kind of like um the social signaling is enough especially from key players in the ecosystem that this is definitely something that coinbase is probably looking at now and being like okay well this is something that we have to consider if

if this happens so if they're being forced to by the us government they have another choice they don't have to do the censorship they can basically turn their validators off they can just shut them down now obviously given their share of the network this would result in what's called a quadratic inactivity leak which means that they wouldn't just be leaking out ether being offline they would be leaking out a lot of eighth because a lot of validators went offline at the same time and then they would eventually get kicked out of the validator set and to re-enter they would have to wait to withdrawals and all that sorts of stuff and their validators would just become useless they'd have to eat that loss as well and that's not their loss that's their customer loss so they'd have to pay for that so there is a business case

here as well for coinbase not to engage in this censorship so you can see that these discussions don't really get hard on twitter the twitter lacks all this nuance there's so much that goes into this guys it's it's such a such a complex uh kind of like uh ecosystem here that i think people look at twitter look at these kind of like one-liners that people put out and be like oh ethereum is centralized it's going to be it's going to get sensitive blah blah when in reality the uh kind of like um the the thing is it's much more nuanced than that and i i'm trying to explain the nuance as best i can and i'm doing this without a script or anything so i'm obviously missing things but i think that it's very very important to keep that in mind is that the social layer is

our last line of defense we will do social uh kind of like uh slashing if we have to right if we can see that there is censorship going on if it's proved beyond a doubt which is not hard to prove because we know uh kind of what validate is belong to what entities then we can get together as a community and say okay here is a you know pull request whatever it is to slash uh kind of uh this actor because they're engaging in censorship and then the rest of the network can come together to do that now would coinbase risk their business for that because they you know that's that's their customers eat that's not their eighth so would they risk their business to do that i don't think so i think coinbase would either push their validators offline if they're being forced to censor or they would

fight the censorship they would fight the us government on that and they might even take it to court right they they have uh you know a huge legal team and things like that maybe they do that because it's not just ethereum it's at risk yet it's every single staking provider that they have that's that's the risk and even if they have like a mining pool which actually i believe some exchanges do it's the same thing right if they run a mining pool so from that point of view uh keeping up the social signaling is extremely important talking about these things is extremely important and that's why i put out this tweet as well where i said you know ethereums will always ask and respond to the hard questions we don't bury them below 10 layers of psyops and propaganda and we certainly don't pretend that ethereum is perfect

ethereum is and will continue to be stronger for embracing this culture now i'm obviously well maybe not as obviously but i'm referencing bitcoin here because the bitcoin community tends to bury things beneath narratives beneath psyabs beneath propaganda because they don't actually want to openly talk about the issues let's take the issue of their security budget the long-term security budget for years and years i've been talking about this many in the ethereum community have been talking about this some even in the bitcoin community have been talking about this how in a couple more harvenings the bitcoin blockchain very very much runs the risk of becoming insecure because fear revenue isn't making up for the lack of block reward or for the kind of like dwindling block block reward what did the bitcoin community do they buried this they said it was [ __ ] they said it was fud

they they literally came out with propaganda i i have a thread that i kind of like have with dan huddle uh dan held from 2019 or 2020 where he was literally sharing with me charts that he had drawn predicting that the fear of a new would go up it was a prediction he was sharing him with me as if they were fact so literally like that that's how far they went to bury this right ethereans don't do that we talk openly about this because it is paramount that we attack this head-on there's no point burying it what what would burying it achieve because if we bury this if we say oh no censorship isn't going to happen there's no risk of this happening oh we're fine we're just going to rely on our you know rely on on all the stakers being honest and not censoring

all sorts of stuff no that's that's not how it works at all and burying it would result in a very very uh kind of like weak social layer it would result in actual censorship at the base layer and then the people that uh kind of like are in this ecosystem that want to see ethereum be the most censorship resistant network in crypto would probably leave it's not just me guys like i guarantee you a lot of the people in ethereum like as as i am and i'm not talking talking about you know they bought some eight they hold it maybe they use some apps i'm talking about the the strongest parts of the social layer the core developers the core researchers uh the core community members they would seriously have a crisis of confidence in ethereum if there was permanent censorship at the base layout like i'm

not the only one so how do we fight this well we talk openly about it we make sure that it is known that hey if you engage in censorship we're going to slash you like as simple as that and i think that bitcoin is look at that open honesty especially the bitcoin maximalist and they're not used to it they're not used to everything being laid bare so they automatically say oh look at look at this look look at how openly they're talking about look they're even admitting that there's a risk of this happening it's like yeah because like there is a risk of this happening the risk is there for bitcoin as well but it's just because you guys don't admit that it's there doesn't mean it doesn't exist i refuse to bury my head in the sand on this and i refuse to give in to people who tell me oh man you

shouldn't be kind of like signaling like that it's it you know it makes ethereum look weak i don't give a [ __ ] if ethereum looks weak from what i say or from whatever anyone else says we're all about making ethereum stronger right excuse my language but like i get pretty passionate about this we're all about making ethereum a stronger network and stronger ecosystem you don't do that by burying your head in the sand but you have bitcoin as the classic example here i would have considered bitcoin a failed experiment at this stage they have buried their head in the sand for so long right so so long that you even say like the the people who were some of the most hardcore bitcoin maximalist now having a crisis in confidence in that line of thinking and being like oh or maybe these people are crazy maybe i was

part of a cult right like it gets to that point i don't want to fear him to get to that point and i don't think it is even close to that point but if we keep burying our head in the center if we start to bury our head in the sand we're going to get to that point i'm going to i'm going to stop ranting on that point there because there's a few other things i want to get through but i feel very very passionately about this and i hope that you guys do as well um and there was also something here from a twitter account tux here who said since when did any of the anti-crypto people ever actually give a [ __ ] about money laundering before crypto was a thing the vast overwhelming amount of money laundering is done by banks besides

tornado cash isn't even good at money laundering instead of having any redeeming political values anti-crypto people will just entirely throw out decades of electronic civil rights activism because they hate a digital ledger so much some of you all truly have the dumbest most short-sighted minds i've ever witnessed this is an extremely good point because of the fact is anti-crypto people or crypto haters hate like encouraging censorship uh is just like i mean i i'm not surprised by it but it's just insane to me because they wouldn't be encouraging it if it was done any in any in any other way right just because it's crypto apparently it it's fair game which i think is just insane but i just wanted to kind of highlight that because again that's another thing that we're fighting we're not only fighting within crypto we're fighting the anti-crypto people as well

which sucks because these people actually write letters and kind of like have um the ears of politicians and they really are trying to get uh crypto either neutered in terms of like really coming down with regulations with sanctions things like that or just outright banned right and and if you don't believe me go listen to a podcast that bankless did with matthew greene um where at the start of the podcast they discussed this letter that anti-crypto people sent to congress basically saying that crypto i mean i don't think they explicitly said that crypto should be banned but they painted crypto in the worst light possible they basically focused on all the scams and focused on none of the good stuff as a case for them to for the um government to crack down on crypto so we're fighting on that front as well um but we do have some people in our corner

such as the electronic frontier foundation who finally put out a statement today about the tornado cache staff by saying the eff is deeply concerned the u.s treasury department has included an open source computer project tornado cache on its list of sanctioned individuals tornado cache is an open source software project and website that published a decentralized cryptocurrency mixer code has long been recognized as speech so there are clear first amendment implications whenever the government inhibits the publication of computer code in on public on a public website so i'm glad that the eff is standing up for us here because they they have the er of politicians and regulators for sure and they're distinctly outside i guess like the crypto ecosystem they fight for all i guess some computer all kind of like rights when it comes to technology so very very good to to see that there

and last up here we have giulio from the aragon foundation sharing this pr on the builder spec here so apparently this pr is if we manage to deprecate the builder spec we prevent flashbots to interact with consensus layer clients thus nullifying their ofac compliant code post merge hopefully es also the ef also stops spin sending them money i think this is a good signal to send to flashbots about mev boost integrating and ofac kind of like compliant kind of like a code i think that's a really dumb decision for them to be doing that and as i mentioned yesterday from everything that i've seen everything that i read they're not even legally required to do that no one is you know there's no legal obligation for anyone to be censoring transactions at the protocol layout but for some reason

people are going above and beyond here which is that chilling effect that i've been speaking about but you can read this pr as well for yourself and see some discussion there but i think that's going to end the i guess like discussion about the tornado cash privacy censorship stuff for today it's probably going to keep coming up guys i'm going to be honest here i'm going to try to like not talk about it for the whole episode on the refill because i know there's other things to kind of like cover but this is extremely important and you know the the daily gray and what i try to kind of like put put out in in my materials and everything that i do is has got to do with everything that i just spoke about at the end of the day i only do this stuff because i believe so

much in ethereum i believe so much in ethereum's values and if and you know if i ran for 20 minutes on the refill about them then so be it right as i said there's timestamps you can skip it you can kind of like skip onto other things uh but yeah ending it there the the next thing to talk about is merge related stuff so you can see here that marius's last pr or pull request finally enables the merge on the ethereum mainnet so this is obviously setting the mainnet ttd uh for the merge and this was uh kind of like merged into a kind of like the ethereum master here into into get so you can see here the lines of code that were changed and everything that goes into that uh but yeah i mean ttd is set it's concrete i think we're just gonna have like the

formal concrete this is the you know the ttd this is the when the merge is happening on the all core devs call this week but for all intents and purposes it is going to happen on september 15th or even earlier and mario shared a tweet here saying that he ran some computation to confirm the ttd for mainnet the projected date right now for ttd is the 14th of september uh just at 11 57 uh uh sorry 10 57 pm uh to uh 2 a.m central eastern standard time i i think this is central central or central european standard time i think that is um so yeah i mean it's either going to happen 14 15 or 16 depending on time zone but as i said this can also be affected by hash power changes and things like that so we don't know and you know until closer to the merge but i

do think there's going to be a large number of miners who are just going to mine to the last block it doesn't really make sense for them to not do that because they're still being paid out they're still rewards being paid out and they can inch out every last drop until the merge happens and obviously there's those proof of work chains that are that are going to um kind of continue on and try to i guess like get some fanfare around them but as i've said before i pretty much think those are all scams i don't think they're anything worth paying attention to but miners might you know just automatically switch over to that they may switch to ethereum classic but you know these kind of like other coins don't have the market caps that don't have the value to support the amount of miners

that ethereum has so in reality a lot of them are just going to shut down their machines whatever gpus they're going to have they're going to just sell there's going to be a massive influx of gpu so if you're a gamer looking to upgrade your gpu well there's going to be a ton of you know mining gpus hitting the market and the thing is is that you may think that they've been damaged by being used in mining that's actually not true they're actually uh underclocked or run are kind of like not at their full capacity because that's actually more efficient for mining so they're actually fine and you can still kind of like buy them and and be cool with them but you know it's funny i've been actually monitoring gpu prices uh over the last i guess like year or so i think at one point in australian dollars

a 30 80 ti was 3600 um at the probably i think that was like the peak of the bull market where obviously there was a lot of demand from for mining and now in australian dollars again it's fifteen hundred dollars so that's a massive reduction and i think it's going to go even even below that probably below a thousand dollars and nvidia is bringing out their um new uh 4000 series gpus soon so that's gonna uh kind of like hit the the 3000 series as well so i really do think you can probably pick up a 30 80 tia 390 ti for under a thousand bucks and that's new and if we're talking about secondhand you can probably get one much cheaper than that i'm talking australian dollars of course uh for those of you if you just want to reference here uh i think

the last time i checked the australian dollar was like 65 to 70 cents to a u.s dollar there so whatever that converts out for you i mean 700 us dollars would be a thousand dollars roughly it's like not exactly that but just to give you some context don't know what the european conversion is right now i think it's about the same actually last time i checked as the us dollar conversion um but yeah my point is is that like gpus are going to be very cheap so if you're a gamer looking for a cheap gpu you just have to wait another month until the merge hits and then there's probably going to see like an influx there and the prices will definitely collapse i think all right so uh apparently argentina uh argentina's capital bonazeri's is going to be running ethereum nodes in 2023.

this is pretty cool i actually love it when i guess nation states are friendly with crypto right and i think there's nothing more friendly than running ethereum nodes i guess maybe the next thing more friendly would be running ethereum validators right and not engaging in censorship right just running an ethereum validator as you normally would um but yeah i think this is kind of like an obvious next step for maybe smaller nations and smaller kind of like nation states around the globe to embrace crypto i i really do think that we're going to have over the next few decades we're going to have a very funny kind of like thing playing out where there's going to be you know maybe probably smaller nation states smaller nations i'm talking smaller in terms of gdp probably not population but like smaller in terms of of gdp embracing crypto right embracing

uh kind of like ethereum embracing these neutral technologies and we're going to probably see some of them that don't i mean you can probably already guarantee that china's not going to embrace anything open but the u.s seems to be not going in the right direction right now but maybe they end up changing course maybe they do go in the right direction uh because right now as i said like with the tornado cash staff they're definitely firmly not going in the right direction and if it's proven in a court of law that uh that what they did with the tornado cash sanctions was actually unconstitutional and potentially even illegal and that's a huge blow to them and a huge boon for us but as as i've said that's going to take a while to play out but good to see these uh smaller nations here such as argentina

within within borders of bonazerdes are running ethereum nodes and kind of like signaling that they support ethereum uh from i guess like not just uh this the kind of technical layer but also the social layer because for them to say hey we're gonna run ethereum nodes is a social signal to the world saying that we think this thing is worth kind of paying attention to which i think is really really cool all right so on september 7th there'll be groupcoin grants around 15 kicking off and this will be the biggest funding and building event in web 3 and it will run till september 22nd so mark your calendars for that uh there's also this thread here from git coin going through all you need to know when it comes to bitcoin grants around 15 which you can kind of read about here and i'll link

this in the youtube description uh below so i guess like the tldr here is that there will be a main round uh multiple cause rounds and multiple ecosystem rounds uh the main round is the longest standard git coin grant in support of web 3 open source software approved projects are open source and public goods and don't have vc funding over hundred thousand so this is like the criteria here the vc funding over 500 thousand dollars don't have tokens don't have nfta sales and don't have promos for tokens slash nfts in the grants uh which which i think is really cool git coin has historically suffered from this where some projects will issue a token and then still have a bitcoin grant or they'll have vc funding or they you know they'll they're kind of like have some form of funding where they actually don't need the grant and

that takes away money from what takes away matching from the people who actually do need the money so that's always been a bit of an issue for get coin uh but i think they've been working on it and i think they get they're getting to a place where it's it's actually not you know a huge issue anymore uh but yeah i'm definitely looking forward to this round it's in what oh you know the cool thing about this round as i think i mentioned this last time it's running through the merge the main net merge transition which is cool but yeah i guess like less than a month away about three weeks away from now uh until this starts but i'll keep you guys updated on on that as it gets closer all right so zk sync had put out a thread yesterday saying 74 days to zk

sync 2.0 on mainnet with the dream of a zk zkvm solution for the ethereum community becoming a reality we've seen a wave of projects launching on zk sync 2.0 every monday we'll be highlighting some of the members of our growing ecosystem so i guess like every monday from now on there'll be one one of these threads so this is the first thread here going over i kind of like the protocols that we'll be launching on a zk sync 2.0 uh not just the protocols but like middleware and things like that and infrastructure so if you want to know what's going to be live on zkc 2.0 you can go read this thread and then follow their account for threads every monday leading up to the launch in 74 days there all right finally here we have galion that has introduced galleon portfolios a low-cost way to gain simple exposure to

the most popular crypto investing themes updated and rebalanced frequently so you can read this full release article below and also dive into the four launch portfolios in this thread so these are being built on token sets of course on set protocol so there is one called merge which is this portfolio allows holders to capture the performance related to the highly anticipated merge event on ethereum moving the network to proof of stake we provide exposure through state staging providers and d5 which you can check out here spi which is a synthetics ecosystem index uh fees which allows holders to invest in the top five protocols and networks generating organic consistent fees to the project stakeholders in some capacity this is based on mainnet and plan to release other network variants soon and votes which uh the va token

index allows holders to track the rise of vote escrow tokens that often influence the direction of emissions within d5 these tokens are appealing to other dows as they help facilitate their own protocol or growth this is really cool i like this i mean there hasn't really been anything like this i believe in the past so it's cool to see that you can now i get i guess gain exposure to popular crypto investing themes as they say here and i guess like narratives that we call them um and yeah i mean you can check out the blog post for full details on everything such as allocations and where you can buy and things like that i will disclose here that i'm investor in galleon and i'm also an advisor to set so a bit of a conflict of interest here but i mean i think these are really really cool i

think that uh what they're building is very cool and i'm still very bullish on indexed kind of like index systems or index tokens especially as we onboard more and more of the traditional finance ecosystem and more and more of the regular user who doesn't want to have to sift through a million different tokens they just want something that they can get nice passive exposure to and hopefully get some growth over time with that as well so check this out i'll link it in the description below i think that's going to be it for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone