Hop Protocol live, Index Coop report and much more - The Daily Gwei Refuel #163 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel where recap the latest news and ethereum ecosystem i'm your host anthony sosano and today's the 13th of july 2021 all right everyone let's get into it so actually today or tomorrow depending on where you are uh i will be doing a uh live stream with justin bram here on his youtube channel so the actual date is wednesday july 14th at 9 00 pm eastern time or 6 pm pacific time here so whatever that is in your time zone it's 11 a.m for me in australian eastern standard time so if you want to kind of come along and ask me questions on that on justin's channel be sure to do so uh and i'm really looking forward to it i i kind of had a sneak peek at the questions and there's some good questions in there looking

forward to answering them so definitely go set the reminder on the video here if you want to catch that uh on wednesday july 14th so just a bit of drama on uh twitter today so there was this defy education fund that popped up uh and i hadn't really heard of this before and some people pointed out to me that uh chris blech was talking about this you know over the last few weeks and i don't see his tweets because i have him blocked for my own reasons so just wanted to put that out there this is the first time that i had heard about this um and this defy education fund doesn't have a profile picture right it doesn't have a website just has like a description that says we do policy and advocacy work to help dfa flourish and then they said on twitter that they

basically sold 500 000 uni for 10.2 million dollars with another um a 500 000 uni plan to be sold for another 10.2 million dollars so they've made over 20 million dollars and you might be wondering okay well where did this uni come from did they like why are they announcing this and well it came from the treasury the unisop treasury and the uh i guess um the actual account belongs to this kind of post that was put here uh and it was previously known as the d5 political defense fund this was put forward by harvard law who basically argues that uh essentially we need to kind of like come up with a way to have like a d5 education fund to educate regulators and and politicians and all that about defy um to make sure that uh you know that we kind of have representation there

now i won't read out this whole thing you can basically check this out in the youtube description basically what it is and and why the you know these people wanted the money and everything like that uh and i i mean the drama is surrounding the fact that this is quite ridiculous they were given 20 million dollars worth of uni for what i mean there's no there's i know a few stated goals here with like multi-sig holders and names and things attached to it but you know where's the transparency like what are they going to do with this money like why do they need 20 million for this sort of stuff like what are their goals what are their kpis all this sort of stuff so there's a bit of blowback against that and they also kind of posted a comment here that was posted on twitter

in their proposal that says that the proposal outlines that these funds are these funds are anticipated to be allocated over the next four to five years so it won't have the same dilutive effect of selling one million uni all at once which we agree would be a problem we think it is important that the board has enough to work with so they can react quickly to regulatory threats without being hamstrung by the long governance process for every decision they make well i mean that's gone completely out the window right because they literally just sold one million uni and it obviously didn't take four to five years they've sold one million uni for 20 million dollars and where is that money going right where's the transparency into this there's none like from what i can see basically basically nothing and if you go to like the most recent

kind of comments on this um just like follow-up questions you know like is there more publicly available information things like that um and yeah i mean i just think that this whole thing i'm not an expert on this proposal and or anything like that but i just think that this whole thing is definitely uh very shady i think uh and the people actually there was some digging down by by a few people like i remember who did it actually maybe it's in the quote tweets i don't have the tweet here but it was digging down by a few people uh and they basically found that the ones who voted for this to pass the uni token holders that voted for this to pass were basically insiders with large uni bags and things like that um and uh yeah i mean maybe it's in this thread here i'm just looking for it

right now uh no it's not there but essentially you know this i guess basically goes against what we want these doubts to be right and what we want kind of like d5 funds to be uh we don't want insiders just voting to give themselves money uh we want more transparency than this and that's just not hasn't happened here and i think unisop has come under fire a lot um and people saying that the uni kind of um treasury has been captured like the governance has been captured by special interest groups and they're just doing whatever they want they're basically just looting the treasury and this is you know a very stark example of that like 20 million dollars has been looted out of the treasury and and for what we don't have any insight here we don't have um you know much transparency we just

have like this foreign proposal which didn't really get much participation there's not a lot of people in here there's only a few comments i mean really not that not that much and it was voted on by a group of insiders and then they managed to make that that amount of money for for nothing really i mean the way you would probably do it or the way that i would think that you would probably do it is that you would issue those uni tokens to um to this this kind of like fund over time you wouldn't do it all at once uh i mean because you just see what happened they just dumped it straight away and and now they have 20 million dollars to do whatever they want with uh so the way i would do it was uh would be well first of all i probably

wouldn't give this group uh one million uni tokens uh especially i wouldn't promise to give them uni turkeys especially because they haven't proven themselves at all from what i've seen they haven't given clear guidelines of what they're actually going to be doing with clear defined goals and and and kind of like um uh updates and transparency reports and things like that i mean they haven't kind of like started any from any of that from what i've seen uh so i wouldn't i would start with giving them like a small kind of i guess uh grant maybe you know a few hundred thousand or something like that considering that i guess i know that the legal costs are quite expensive expensive and regulatory stuff is quite expensive um but generally i yeah i wouldn't be giving them 20 million dollars up front but that's what's happened and

that's where the drama is stemming from i think this is really um bearish i guess generally because if the unisop governance process has actually been captured by special interest groups i mean there's no stopping them from just looting the treasury even more and we're gonna have to see if that plays out we're gonna have to see how where these funds go and you know i i've i've covered how the uni swap grants program has been giving out ud tokens to various uh projects within the space building on uni educating around uni you know doing a bunch of things with uni swap and they got much much much less than um than this kind of fund got so what uh the uh there's a there's someone who got thirty thousand dollars for riding the new uni swap v3 liquidity mining contracts

they only got thirty thousand dollars for that like those are brand new contracts and everything and they got 30k for that and they did the work it's live like i went over it the other day on the refuel and they only got 30k for that but this defy education fund with limited information with uh basically no transparency or a little transparency got 20 million dollars for doing nothing i mean they've done nothing yet and i know i'm being harsh here but i just think this is mind-boggling to be honest and i think people should be upset about this they should be asking more questions here and things like that so yeah i mean personally i don't follow the day-to-days of every kind of governance forum out there but when something is kind of like i guess as obvious as this happens where i think this is just like a

a gross kind of um error on on unisop's governance part i just want to kind of raise awareness about this and make sure more people know about this and things like that um but yeah i think i'm going to leave it at that for now i just wanted to kind of quickly go over that because i think that uh you know it's important to to kind of like uh give some color there and i mean even andre put out a poll where he says first time i hear about the d5 education fund and somehow they got a 10 million grant which is actually 20 million dollars um cents check and there's a poll um the options are i know i know of them never heard of them and see results 76 percent of people or 4 600 votes say they never heard of them and i obviously fall into that

group um and that's just crazy right that's absolutely crazy that this group got 20 million dollars and like 76 people percent of people haven't heard of them and their name is just like completely wrong with d5 education fine i mean they're a policy advocate group they're a regulatory group that's trying to or at least a legal group that's trying to kind of fight back against regulatory stuff within d5 um i don't i don't know if a d5 education fund is the right name for that but maybe they they i mean they did change their name from like what do they change it from i mean they they kind of were called the d5 political defense fund so they changed their name to something more friendly i guess and yeah i just thought it was a bit mind-boggling but i'm gonna keep an eye on this see what

happens going forward see uh if they actually do provide updates and any transparency into where this money's going or if they've just taken the money and gone and bought themselves lambos or something so onto some more positive news immutable announced that the immutable x layer 2 roll up will soon be permissionless so you'll be able to meet zero gas fee nfts in minutes on their layer 2 completely self-serve and 100 secured by ethereum no new smart contract blockchain configurations no new libraries no new programming languages so if you're a developer this is obviously very interesting to you and i mean i'm incredibly excited for immutable x i think that nfts on ethereum have obviously been the hardest hit by the higher gas fees they've been priced out and i'm glad

that immutablex is coming along to offer this kind of i guess scalable experience for for people and i guess for for those who don't know mutablex is built on starquest technology so it's a it's sound it's not a technically a zk rollup it is based on validium which is basically an off-chain data uh kind of a committee that that um uh that secures that the data there but the their security is still inherited from ethereum it's just a hybrid model essentially and you can read more about validium if you just google it it'll you know start with lydium it'll come up i'm not going to go through that now um but this is really cool because that means that basically anyone building any nft project will be able to deploy it to the immutable x roll up i don't know if there's going to be like a a white list

process i'm assuming permissionless means permissionless um or maybe there's a soft whitelist process like what arbitram has to weed out i guess like the spammy stuff because they don't want to overload the network from kind of the get-go but we'll have to see and i'm just kind of like scrolling through the docs here uh and seeing what's going on here oh wait no immutable x uses a zk roll up so they're actually calling it uh zk roll up here i'm i'm fairly certain they're using they they used validium but i'm not sure maybe they're using a zk roll up instead of validium uh for this maybe they upgraded or something like that or maybe i'm getting my my wise cross tr maybe it's something else that i'm thinking of but not important for now um all you kind of need to know is that it's a layer two on ethereum and

it's working to scale nfts but i will definitely check on that and see exactly what the architecture is that they're using because i'm probably getting mixed up i mean it's actually good that i'm getting mixed up because there's just so many layer twos out there right now that i can't keep track of them anymore which is awesome but anyway i'm not gonna gush too much on that one i'll move on to the the next update here this is not really an update this is more of an interesting thread that i came across on twitter from jordan mumtazi from i hope i hope he said i hope i said his surname right there or mom tazzy or something like that uh from synthetics so he's a co-founder of synthetics and he basically put together this thread going through essentially what i guess you can call the synthetics mafia

that is a bunch of people who were synthetic early synthetics employees or worked for in synthetics or have like been part of the synthetic ecosystem from the very early days because for those who don't know synthetic started off as having which was like a stable coin protocol back in 2017 it evolved into synthetics and you know the rest is history but there's a bunch of projects that have actually spun out of that now so the first of those is quinta now this is a uh i guess like a front end that's built on top of synthetics and is aiming to i guess simplify the whole experience for people that is build built by people that worked at synthetics thales market is a uh is being spun out of synthetics and it's taking on binary options so these are community members building this which i think is really

cool uh lyra finance is the new options protocol um uh kind of like spinning out as well being built by someone that worked at synthetics and there's a bunch of other examples here i'm not gonna go through them all but it's not just people who were part of the synthetics team or building on it there's also people who started new projects that are going to build on synthetics there's also um you know kane kane's brother kieran who's building alluvium which is an nft based project i mean there's there's different kind of like community members that were involved from early on like alpha zero x who runs his own d5 fun now dejen spartan i mean i'm sure i don't have to describe who did gen spartan is for all of you and there's a bunch of other people here i mean people from fans there were early

backers and stuff like that this is just absolutely insane right i didn't realize how many people had connections within the synthetics ecosystem but it makes sense because they've been around for a long time they're one of the earliest defray projects and they've uh they've had like a very strong community for quite a while now so i wrote a bit more about this in the daily grain newsletter today but i basically said that this is the one major advantage that the ethereum ecosystem has over all of the other ecosystems in that we have six plus years of um builders essentially on ethereum um that basically have been building from the very early days and they're now spinning out and building their own protocols on ethereum like as far as i know pretty much none of these people are going and building on other chains or even thinking about it they're building

on layer twos um you know lyra for example is deploying to optimism natively i've spoken about them before quenta is is going to be building on a layer 2 as well i'm assuming they're going to be on optimism because synthetics is there and things like that uh so they're all staying you know keeping it in the family that's why it's kind of like the mafia right keeping it in the ethereum mafia the ethereum family and synthetics is part of that so and this isn't just unique to synthetics it's obviously uh replicated across pretty much all of the projects within ethereum there's plenty of people who have been here from basically day one like the really early days of 2014 2015 and have gone on to start their own projects or join as really early members of big kind of uh protocols like billion

dollar protocols whether it be defile something else and they've been grinding away for a long time and they have deep rooted connections in the ethereum ecosystem they have a deep respect for ethereum as a platform they believe in the mission and everything like that that's why they've stuck with it for so long so i think that is a huge advantage that ethereum has and you can't buy that right like you can't buy and you can't teleport forward in time to get that six years worth of experience you need to actually build that up yourself and none of these ethereum killer platforms or whatever you want to call them other layer ones have been around for very long in a capacity where people could actually build on it a lot of people forget that you've been able to build on ethereum since day one like ethereum had smart contracts when

it first launched in 2015 july 2015 so people have been able to build from day one whereas these other platforms like cardano's infamous not having smart contracts yet they launched in 2017 their staking mechanism back then um and they still they still don't have smart contracts so they haven't actually built up any um uh developer network effect just yet they've basically built none of that uh polka dot has been did their crowd sale on 20 end of 2017 they only went live late last year with their relay chain but they didn't go live with smart contracts yet so uh and with the um uh the the power change and things like that they're just going live now uh solana isn't very old either it's only been out for a little while so and you know they're kind of like starting from scratch as well because

they they're they they're based on rust they're not using solidity and things like that and you know there's plenty of other ecosystems out there that just do not have uh anywhere near the amount of kind of like build a network effect that ethereum has and ethereum is built up over time and at the end of the day ethereum has pioneered all of this stuff like we pioneered d5 we buy nfts and dows and all this other stuff that's happening in other chains originated on ethereum all the pioneers are still on ethereum there's probably some that we lost along the way but the majority are still are still there and that to me is the biggest strength that is why i double down triple down could you pull down on ethereum and why i think ethereum is already right one is because its community and ecosystem is just so so far ahead and

when you actually quantify it in time and think about how long six years is in the span of like crypto you really start to see and it really starts to illuminate kind of like how far ahead ethereum is uh and you know i highly recommend reading this twitter thread just to kind of get more detail here and get more i guess accurate kind of view of things here but as i said synthetics is only one ecosystem there's plenty others out there i mean there's plenty of people that have kind of left uni swap from being there early on um you know ashley scalp for she was at uni swap uh and things like that or at maker and then and then she now she's at uni swap sorry but she's also like advising liquidy from memory um one of the co-founders from maker or at least one of the early kind of

pine uh developers at makers created reflexive finance which is building rye i mean there's countless examples of this going on i mean compound itself you know they're still a lot of the early kind of pioneers from compound are still there but they're kind of like exited to community through the dow and now they're building other product products on top of compound like compound treasury ave is kind of the same kind of thing here so just seeing like people kind of bounce around and do their own thing or join other teams and things like that they still keep it within the family so there's still that mafia kind of stuff going on there which i think is really cool so yeah i'm gonna i'm gonna stop it there i know i'm gushing a little bit over ethereum there but i just thought it was important to kind of give context

around the network effects that the ethereum has developed or that has at least has built out in the developer community so hop protocol is officially live so the hot bridge has uh has has been launched you can now do instant usdc transfers between ethereum polygon and x die chain using hop dot exchange here uh which is really really cool so if you click through to use hop here there's no dark mode just yet but i have told them please do dark mode because light mode kills my eyes but essentially you can just select the network that you want to go from so go from ethereum mainnet uh you go to polygon uh obviously you'll be sending usdc might while it's not connected so i won't do anything now just input what you want to do and then you'll be able to kind of like send

it over instantly now um for those of you who don't know how hot protocol works i've gone through it before on the refuel but basically they have like a liquidity provider sitting in the middle that takes on the withdrawal kind of like delay for you essentially or the deposit delay for you and allows you instant liquidity to your assets on whatever chain you wanna want it on so this is a really neat solution this is something that i've spoken about for quite a while i mean i i've spoken about hot protocol and connects seller network plenty of times before and essentially they're all kind of doing i guess a variation of the same thing and that's bridging liquidity between different chains and different layer twos and hot protocols already stated that that they're going to be supporting l2s like optimism and arbitrary

they're gonna be supporting more tokens uh coming up as well so you know this fragmented liquidity issue that people are talking about or have been talking about for quite a while now is not an issue in my eyes i feel like we're going to solve it before it even becomes an issue before we even have the layer 2s live for this to become an issue and i think that we're going to live in a multi kind of layer two worlds and maybe even like um a little bit of a multi-chain world where there's side chains and stuff feeding into ethereum but it's it's i've described plenty of times how i think it's gonna be a power law thing where you're gonna have a handful of layer twos and side chains that take up most of the uh the kind of like network effect but we're gonna have bridges that sit

between them so i actually do think the bridges might end up being worth um a lot uh you know if they have tokens or whatever as i've said plenty of times i assume every single project in this ecosystem is going to have a token so if these bridges have tokens and these bridges take fees and and everyone's moving between chains all the time and there's like billions and billions of dollars passing through this these kind of um these protocols all the time then you can imagine that these bridges become like a very valuable part of the ecosystem and very critical infrastructure for crypto as a whole so that's going to be interesting to watch how the market values these things as well so lyra has started their trading competition so if you would like to get started here you can go to app.lyra dot finance

welcome uh this competition runs for two weeks the link will be in the youtube description of course and you can basically switch to the optimism network and start playing around with them with that on layer 2. now i actually played around with lyra's test net demo the other day it is so smooth it is so amazing instant transactions basically fearless i mean you just have to pay a little bit of a fee because optimism turned off their um their fee subsidies but uh you know basically zero almost zero fees and also incredibly fast so i highly highly recommend going and trying this out if you haven't experienced uh optimism yet this is your chance to do so obviously synthetics has been alive on optimism for quite a while if you're a staker you would have experienced it but experiencing it with a different protocol is is so cool and as i

mentioned before lara is an options protocol it is kind of like spun out of the synthetics ecosystem it is kind of uh you know a part of optimism because synthetics is on there as well but still uh you know i just think it's really cool to try this stuff out so uh i definitely go uh go get your tokens get started with this and as i said this competition will run for two weeks and there's a share of fifty thousand dollars worth of prices and bought a yacht club nfts up for grabs as well so matthew graham from from the index co-op put out the june monthly uh report so basically with a tldr here that profitability for the co-op is up liquidity mining costs are down units of production in circulation are up treasury diversification is up as i

mentioned the other day the index cops sold seven point seven million dollars of index tokens to a bunch of uh investors to basically diversify their treasury capital efficiency is up and the usdc balance is up because of that treasury diversification i love these reports i wish more d5 protocols did this i know there's a few out there doing this like your own finance and things like that but i wish more of them did this it professionalizes the space it allows people to kind of like keep track of what's going on with these protocols very easily and it gives them a very polished look so you know you can read this full breakdown it'll be linked in the youtube description for you of course i'm not going to go through the whole thing now but i just love it it's not just like text on a kind of um on a pdf or

whatever it's actually got diagrams it's got tables it's got pie charts it's got all the good stuff you want to see here and matthew graham in his 11 tweet thread here uh 11 length tweet thread here basically breaks down you know what's happened what they did all the updates uh why this thing is the way it is how the growth looks and all this sort of stuff so definitely go check this out i mean disclaiming here i'm obviously an advisor to set protocol that's heavily involved with the index cop and i hold index tokens but i hold index tokens because i'm so bullish on the index card i mean i've spoken about this so many times on the refuel i am just so bullish they're one of the only dfi tokens that i hold anymore is index i cut most of my other exposure um because i you know it's very

i i've been talking about this in the delight discord channel before and actually went through a detailed answer on ama about this it's i feel like a lot of default tokens are just going to underperform eight in the long run so there's not many that i want to hold but i'm making a big bet on the index card because of i mean i'm closely involved with it i monitor it really closely but i think they have amazing product market fit and i think that their growth even during downtrends is absolutely amazing and they're just getting started really i mean it's only been around since september or something i think we we launched it when we launched it when i was at set uh so it's only been a uh what i mean not even a year yet and and the index cob has uh amazing kind of

growth going on so yeah that's not me telling you to go buy index tokens or whatever or anything like that but i definitely this is one of the projects that i would be paying close attention to within d5 and one of those that you may not see talked about too much in the ecosystem and maybe isn't considered a quote-unquote blue chip but something that i think is really exciting going forward so first things first if you want to check this out definitely just go read this treasury report i think it's a really great breakdown of what's going on in the index cop treasury ecosystem so dharma dharma is out here teasing that they basically put a tweet out teasing and saying it would be awfully nice if someone built a fiat on-ramp directly to optimism arbitram and polygon now yes it would be awfully nice because i've said

numerous times before that the way we get people to adopt layer twos i mean there's a few different ways one of the major ways we get people to adopt layer twos is offering a fiat on-ramp into it so they can skip layer one altogether and then and just go straight from cache uh or fiat to uh tokens on these layer twos so you can imagine basically being able to buy eth on optimism or arbitram on polygon directly using your dharma wallet using cash using your usd or whatever it is that you use and that alone is going to increase adoption like exponentially i believe i think that especially because dama's ethereum wallet is awesome i mean mobile wallets are the future i just i think most people are going to be using mobile wallets i personally

don't like to use mobile wallets i'm more of a desktop kind of guy but i'm an advanced user i'm not a i'm not a normie as they say i'm definitely not someone who's going to be not going to need hand holding to use this sort of stuff but most of the world will and the way we do that is by doing fiat on ramps making it super dead simple for them to to adopt this technology and to get access to these different apps so it's going to be really cool to to see that um and then you know anna says yeah it would be awfully nice if someone built a non-us fiat on-ramp to dharma uh as well which i i agree with i can't use dharma right now because it's u.s only and i would love to i would love them to do i mean i'm not sure if they're going

to do australia maybe they'll do europe or something like that uh but i would love them for them to do you know non-us places because at the end of the day the us has already kind of like serviced quite well with with crypto fiat on ramps i think that uh you know the coinbase the krakens and and everything do a really really great job of onboarding new people via the fiat gateway but there's a lot of underserved parts of the world that need this i mean not i mean i wouldn't even call australia underserved or maybe much of europe but like south america definitely needs more kind of like fiat iran's from what i've seen um you know in parts of asia of course and and even parts of europe i would say i just think the u.s is already saturated so yeah i mean i would i would

agree with anna that we would love to see non-us fiat on-ramps um being built into these things but it's coming slowly but surely i bet chad's coming and i can't wait to see dharma deploy this for these layer twos and side chains here so speaking of layer twos infuria announced their support for arbitram today so uh for those of you who don't know infuria is a critical infrastructure that is required by all uh i guess evm compatible layer one blockchains or layer two chains because of the fact that infuria essentially acts as a full node for you to tap into or for your app to tap into whatever uh maybe you don't know this but when you have your metamask wallet and you send a transaction because you're not running a full node it by default points to infuria now you

can point your metamask wallet to any full node you can point it to your own full node but by default it points to inferior because inferior is made by consensus and metamask is made by consensus you see the connection there so whenever you're sending a transaction you're actually relaying it via infuria as your infrastructure provider here so you can see how critical it is without an infrastructure provider like this without a full node with having access to a full node you can't send a transaction you can't broadcast that to to the network because ethereum is unfortunately not like client friendly which we hopefully will be with eth2 but right now it's kind of not um so and that's why we need uh inferior on arbitrary and it's the same kind of deal when you're sending transactions on arbitram they're either going to be relayed by infuria or

alchemy or even maybe arbitrary setting up their own kind of stuff going on there but it's really cool to see that uh that this is in place and i guess this is one of the infrastructure providers that they spoke about the other day where they said that they needed these to be in place before they could launch mainnet and now that it is i mean as i said i'm still expecting main net for both arbitrary and optimism at least public mainnet i should say to go live this month i know i've been saying that all the time i'm gonna i don't know i don't even know what to say anymore i'm just like following along following along with the upgrade updates and everything i'm just glad that they're still making noise i don't care if that i have if if i have to wait i'm not in any into

much of a hurry um you know but i think yeah we're going to see them go live soon i mean it's it's coming i mean it's right there right it's like when we were waiting for unison v3 everyone know that it was dropping at any second but we just didn't know exactly when and there was so much anticipation for it and then it happens and everyone just moves on to the next thing it's like okay when uni v3 oh okay univ3 dropped oh okay it's cool okay whatever let's move on to the next thing so i think that while it's frustrating waiting for things to kind of drop and waiting for things to get released once it's done it's done and you don't have to worry about it anymore i know it that seems kind of obvious but sometimes our monkey brains get confused with that and kind of like uh

uh uh don't don't kind of focus on that and focus on like the i guess the short term kind of stuff here but anyway i'll leave it at that i'm gonna move on here because i'm running out of time so alchemix uh relaunched the al eth um uh kind of product today uh with an initial cap of 2000 a.l.e that already got filled unfortunately i didn't get to scoop up any um but basically this is in response to i guess like the the um the exploit that happened the other week or the bug that was in the contract where they had to pause and disable the al eth contract but yeah that's back up and i i would say go check it out and go mince some some al leaf if you want to but you can't because it's already uh reached the cap but if

everything goes well i guess for a few days maybe a couple of weeks here they're gonna raise that cap and you'll be able to maybe get your hands on on it and also if you were one of the people that repaid um the ai leave back to sorry the eighth back to the contract from the exploit you can now claim your exclusive nft which i'm assuming is this which is pretty cool actually i think it's really cool to kind of like immortalize that whole thing with uh with nfts so finally here we have something that's actually really really exciting the ethereum name service announced that themselves in the ethereum foundation are co-sponsoring a grant and a request for product to support standardizing the signing with ethereum kind of tool and i've spoken about signing with ethereum extensively on the refill before so i'm not going to recap

it here there's a summary in this thread about it if you want to read this would be linked in the youtube description but i think this is just super awesome because i would love to be able to sign in everywhere on the web using web3 using my 3m wallet i do not want to have to use username and password for everything or two-factor authentication or anything like that for absolutely everything anymore i would just love to be able to sign in with ethereum and that's exactly what they what people are trying to build with this essentially by giving out a grant and a request for product anyone can come along and put their hand up to build this thing and if you do so you can make money money doing it as well and there's also this thread from brantley that you can that you can view it's

it'll be linked as part of this thread that'll be linked to the youtube description that's the original one that has basically what signing with ethereum is what it means how it's going to revolutionize the web and all that good stuff there i'm super excited about this keeping a close eye on it we'll keep you guys updated but for now i think that's it for today's episode 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