Issuing bonds using debond protocol （ English )

Transcript

yes yes I would okay okay good afternoon everyone welcome to today's deep Learning Journey meeting we maintain an open source step development tutorials on GitHub we help we could not only give Junior Developers but simply is the under executable blockchain depth learning loading map roadmap but also present Advanced developers with a plan for for communication under cooperation today we have invited you to share about the issuing bonds using the bond protocol uh hi can you give us a brief

introduction about yourself and the debunked protocol of course so basically so basically uh I'm you um we're based in France and I was a backend engineer in aksa so basically we developed a solutions for traditional companies to uh issue not only bonds uh treats any kind of financial product or blockchain and they're aiming for the Galaxy compliance uh with also uh many features that actually change students careful so basically uh for the pronunciation I'll be uh presenting our Solutions uh so basically there are two bars the first one is the debunk part which is a solution for tokenization of

any kind of financial uh instrument my second one is what we call the society which is uh built-in capacity solutions that I think in the future when the regulations becomes much more severe uh it will be uh absolutely uh needy solutions for most of the D5 project that that's basically about myself and about our project so so so if you may uh I can start the presentation uh first we can I can start with the icc-475 and then I can explain a little bit when we talk about issuing uh Financial instrument like Bond what will be the

difficulties and what will be the the issues we need to uh address so basically I can start uh with the presentation of the ips347 file and as I mentioned here uh it's a interface for tokenized application with uh abstract Ultra medical storage it's basically for us the yacht 2475 it's a way to put automated account and have a abstract way to manage it so to make to make this much more understandable I have something uh that I can show you so basically I have another presentation I explained pattern or what is a what is this kind of solution so

basically uh yes 20 and other existing token standards as like a mobile phone with a physical keyboard so the idea is that I conceal a mobile phone with the physical keyboard that can shoot perfectly uh the use cases uh I'm creating this mobile phone for and the problem is that if this visual use cases let's say if we are talking about Bond well some utilities are some functions especially football and if you want to use the same standard for the under since it's like if you want to use the Sim standard for zero compound or for a bonus coupon for the cardboard there's a non-cover bond or even with the internet properties so we're going to talk about tokenizations when to

design a huge keyboard with all the keys on it and this is not a solution basically to just add some keys to existing physical keyboard so basically if I ask with developer solutions that allows you to have a touch screen or a mobile phone and with the mobile phone based on the application you are using uh the keyboard will have work solution that will be casted on on your mobile phone so basically that's why the idea about the abstract comes from so I have a competition here about our open Solutions with uh other students who are teams are commonly used to be a representative of financial uh uh

properties so I mentioned that here like 20 yes 721 or five five and three two three five two five and our so basically uh in practice so let's say if I'm talking with the engineer um working later and uh they will explain to me that currently you have three kind of token Solutions so the first con is seven uh es20 and that's 20 you have several uh types that I didn't mention here and with another one is called aft standard so the seven to one one five five and three five two five they're actually using the same interface so basically they are regarded as the same uh token uh tabs and then you have three four seven five

which is a little bit different and I'll explain the welcome to the the the the the difference and I mentioned here with uh one two three four five six with six parameters what is difference so the first we are talking about vulnerabilities and here with the guys 20 it's a fundable token and the seven to one of course is not functionable and both one one five five three five two five and three four seven five it's uh what what very costly responsible so this is defined by erc155 means that a token both functionable and not function at the same time and afterwards we call about which is uh in the case of financial good as an example here

so basically this is the common type of metadata uh for uh for phone for example as you can see that you have keys and points to a uh to Value so how the bond all the financial good is defined uh based on the keys and values they put in so let's say I will have another example security so I can have another example so uh uh I have here about uh

another kind of financial product so basically I have another kind of financial product and the each of it has different kind of metadata so that's basically uh how the metadata are used in the in the financial product so if I'm working in uh Financial companies uh internally will have our own uh SQL or CSV file with all those uh metadata slots which we call and basically this is the whole research we file with many uh parameters to Define one object accordingly and when we talk about this you have 20 uh typical ones don't have a minute have structures but for the seven to one

server and uh 3525 they all started option and usually they will have a URL to uh to direct the medical to the address and the 3475 is different because metadata actually is building on it's built as being built on chain so uh it can be managed as something in the smartphone [Music] Rhythm decide for them rewrite them understand them much easily and the the third part is the token ID so basically we are talking about the 20 to multiple ID and 71 uh is there any problem with my collection well

uh I have a question yes do you think that the last VIP is a very base costing yeah sorry please uh case uh costs a lot of games yeah I explained I explained this maybe uh later so if my connection is good I'll continue okay and the token ID I mentioned here is about under one single contract you have different uh defined objects so yes something you don't have and the seven to one and one file you have one dimension so it's uh it's array from zero to uh to a given number and both three file to five and three four seven

five you can have a limitless number which is defined with the multi uh dimensional uh structures and finally uh we have the patch reductions so it's allow you to pack everything together this is commonly used in traditional Finance uh when you have a lot of financial instruments normally OTC tradable instrument and you can pack them together to form the packages or what they call a batch so basically if it's one file file you have a rudimentary solutions to that it is not designed for financial Goods therefore it's not functional and the 6575 will use the typical uh customizable uh structures to to do this kind of packaging and in terms of

storage so basically we are going to talk about storage we have a total balance for example it's like a storage instead of a smart contract it's like variable which can be read and write many times uh by the functions who had other authorization so both ER 27 1155 and actually our existing standards their storage are defined uh with the code in the ERC uh structure himself so basically that's why when it comes to the point of a physical keyboard so when we talk about story let's consider all the keys are storage so in their Solutions the all the stories are defined and you can't have any uh other storage without adding this to

this physical keyboard so basically for us the solution is to make this abstract and then make it like a virtual keyboard and we can apply the changes uh when needed finally it's the supply type and we need to start these types of supply and explain why this is absolutely needed and here we spend a little bit what the token standard how the convert Center can be used so basically it can be used for extensions yes what's the supply three supplies uh supplies like um so basically yes 20 you have total Supply uh which is a given number from zero to uh to something and with the ic721 you

don't have Supply because um uh because synchrony uh it's not vulnerable they are copying the same Supply system as a total Supply in yes 20. but when you talk about financial good actually Financial good health three uh let's say statues the first one of course uh that's what they called active Supply so this means that the financial instruments are there and the conditions on the financial instruments are not um let's say fulfilled yet so let's say if your your simple cases you have a bond and the bond can be redeemed three days after so the bond right now is active

Supply because the bond can be redeemed in the future but it can be redeemed not is one uh statues I second like that after three days I redeemed my bone so the bond uh all the conditions on the bound uh all the obligations are fulfilled and I redeemed uh the instrument and cut what uh it's mentioned in the contract so I got the money back and the bond instrument will be destroyed and this is called redeem Supply means that the contract uh this was the object of the derivatives our bonds are being executed and the third part is what they call burn Supply

so basically it means that the bond can be redeemed three days after but for one reason or another as true to destroy my bone so it's like if you have physical or Paper Bond and you choose to burn it and in this case they will be seen to be counted as brain Supply and I'll explain why so when you put money into a pool the total amount of money you put is a fixed number and no matter the new brand and how much money you bring it this number will not be changed and with some 100 teams are based on the total number of click it in the pool um the the exit the active Supply on the market may not be the same so basically in order to know the how much actually

the bond is actually being issued you need to have a total Supply again and this whole total Supply is equals to the update Supply brand Supply and reading supply ID together so that's why we need at least uh three uh statues for for obligation because the obligation has three structures so Activa um redeemed one or being executed and all the ones will never be executive again so this is called brown one in our case and here we mentioned about uh what the standard is built for so basically when they uh have the idea of building the solutions that are

discussing with the solution institutions the one uh being regulated the most banks the Brokers Financial players and basically this solution is developed for them in order for them to tokenize any kind of financial asset into what we call a token uh it's called the tokenization in some case and basically here there are three use cases motion so first official institutions is what the solutions are built for a second one is the D5 project so basically it's updated aware of managed LED pool for example and they can convert uh uh uh allow people into whatever Community level pool and I'll explain what this technology can bring benefits

and finally we have other applications so basically when you talk about tokenization actually when you talk about Nancy it can you be used for gaming but actually if you are building metadata on trying to be more efficient and uh in terms of gas you're not spending more gas than uh uh uh then put the meta tasks on our blockchain and I'll explain why so this is basically uh I'll explain why the hard gases are being saved so basically here uh it's the it's the structure let's say the data structures of the yes2475 and here you have the biggest it's a Smart Control level and it uh

contains everything so we have two pair of categories the first is a class categories and they have NOS categories so we can't get away because that voice much easier to understand so uh me and everyone in the in the meeting room I presume you are human beings so they are both we're all Homo Sapien and we share less than 99 of the DNA which is the same and around one percent of the DNS which is about the same so basically we put 99 of the the same Dia due to the metadata storage of the class and uh for example my cat is a cat and uh uh dirty is much more different so

they have another cat another class uh for cats and under this cast I say uh maybe 90 of the class uh had sorry maybe about all the cats have around 90 of DNA which is the same so they are being put into the cast structure so I'll explain why this conceived so basically you and me they are 99 something the same and what we put under the cards which is in the nose uh which is a different part from you and me so basically here I write once with all the informations about our shared common informations common date method house we put them in the class structures and other cast structures we have the known

structures which uh uh which it's uh defining the Specialties that they have that I'm different from you because so there are dys which are different and here we have the structures which is like a like box so uh in solidity uh we can't put different type of variables into the same array so basically we have solutions to comply those Ultra metadata into the same structures and I'll explain how this is done so basically the idea here is that each nouns under the same class the sharp the same metadata set this nouns process but the

different part will be defined with the nonsense that's the only question so far okay so afterwards I explained how this is history sorry yeah can you give more description about it I like that values DB dpit fix yeah and I will give more example here so I just talked about the structure first and then I'll give example a little bit later so here uh I'm talking about the class notes and ID we have that structure so how this is done in the so basically like I

mentioned the solidity will not allow you to store different types of mentality tasks uh you know same storage which is impossible and basically uh They concluded the most likely there are four types of values which need to be installed so we have a box and this box is closed outside so you don't know what is inside box but you know that in the Box you have a structure is like you have four slots so one single box and uh each class is accordingly a type of values that can be stored so in the structure called values which is the values stored in an array here

you have a full slot and you need you have string integers address and ball the idea is that we are not putting all the values uh into an array but we create the same type of box and we put the box in the same array so what will happen is that you can't Define for example the the first values value of zero and with the key zero and it's a symbol and it's the type of screen so basically with this the smart contract can know that how to read the information from which Cloud I got the values to read them so I open the box and I open the the slots for string and I got

in the in the key zero I got this as the symbol of this class so it's value zero and I got it from the stream value so in cases of the cluster here the values are being installed it's like a mapping from a key to uh to a value subject which is here and in this value object it has um I had the beheaded tasks which can't Define the types of storage and I read the type of storage get the data out so for the smart contract when I read the data actually is consuming much less costly the Reddit uh from uh off Trend sources let's say if you I'm

using a ipfs for example and this will visit our caps file get the data out and I need to uh use puppet to convert the data into some other data forms that are solidifically read basically all those process actually is consuming much more classes than the solutions we have right now because it is regarded as a native action uh storage and basically for the method has the same so the metadata part which is standardized means that the the metadata is can be stored of trend on ipfs file and you metadata you don't need to store them anywhere you just put the values in the right slot so let's say we Define

the class the key there will always be the the symbol of this class so basically I don't need to put all the information here because it's a fixed so it's like uh uh something to you now to buy well it's like a constant so basically you don't need to permanently it has on chain you can put the option and you you what you put downtrend is simply the values and it's not four values at one time you're just giving the value that you want to store in that case uh it's in the consuming less gas fee that actually read the values from the offering sources uh for example ipfs and then this it's a it's just a very early example of how

the data are being displayed so basically in this example we have one two three four we have four uh of how for uh metadata slots let's say and the first is sample so it's like zero and you need to put the values which is the values from the first one second one together and they have a um uh uh music hall to allow the front end to get a range and fetch all data together so basically when the data is displayed the data displayed in this way and the problems with existing or nft Solutions are very simple the metadata can only be displayed on a picture

so basically uh I need to put other things in the picture and which they call a dynamic picture with some informations about if there's a coupon if this is a bond if this is financial Goods so basically you can't like uh like normal thing arrange out data and see everything together and uh track all those metadatas so it's basically uh impossible for financial use cases so that's how the America being stored so in this example we have the values uh uh so in the same you know slot you know values key zero they have uh uh some values and each values I read only the string

of values then I get a string of integers and in this case in the uh key three two I have the type address so I get a array of uh values and I read only the address slot of the array of value so I got a friend of address but in the terms of structures when you fetch them together as one very long uh Json file that can be uh transmitted through a smart contract and to the front end and then you render all the data to form them into some kind of display so this is how the class and now system and metadata are being installed on track so

any questions so far okay so afterwards we're talking about something which is very very important uh in the cases of [Music] um traditional institution so when we talk about children institution big players Banks garments and then they are advancing the car the most which is kyc know your customers so they need to prevent who has access to use applications and who can't use it for example if you have money laundering if you are providing uh financial services for terrorists uh for people regarded as dictators you

will not be allowed to use certain kind of financial applications and most of the time when the Western governments especially the states and the European Union when they talk against the defy it's because the QVC Solutions are not there yet and basically it's a very big topic uh you know a lot that in Europe called mica and the understands their ICC regulations and basically they're talking the same thing uh D5 protocol protocols need to provide kyc verification process for their users especially in the states and in European Union so basically in our solutions they have another um as the Building Solutions which

called uh uh Society so this is a kyc Solutions allow you to start the did certificates basically the idea is that our time someone want to use the functions inside of your smart contract you have a building modifier and this modifier you can find it here you see file explorer this modifier actually can accept control the limit the access of your certain functions to a certain group of person on which group we are talking about they are talking about a group of person who has already died some kind of did or currency verification process and so it's not about the kyc I'm not explain more the

idea is that in the future less than two or three years this will be uh 100 needed in all the P5 uh transactions so basically you need to have this kind of build fund modifiers to verify the kyc informations about one user to another and even for the transfer function it's like I want to transfer my token to an address this address in the future should be passing the process otherwise you can transfer the tokens accordingly and afterwards as other feature is the bank transaction so in the case of financial good it's normally a video pack uh different instrument into a package so let's say I

have bound from this company from that company another instrument everywhere I put them into a package and sell them on secondary Market uh in our cases there are function is specially designed for this case and it will allow you to pack a group of financial instruments into electric big color transaction uh structures and then you can put this new object attacked uh secondary as a secondary Market to to sell them and doing things and so this is the type of Supply just mentioned about redeem Supply active Supply burn Supply where we need them and this is the event

so basically we are talking about gs20 you need to add a space file token address to your wallet in order to provide to read the balance but for our case we have index of all the transfer functions and all events the capture of the event and convert the values into those events to convert them into some kind of dictionaries or index and then they can know exactly what tokens you know that and read their balance accordingly and uh finally I have some examples about how you define the object so we define a class as a type of the bond and we Define the Norms at different time

periods so let's say if I issued one today it will be different from the bound ISO tomorrow but 99 of the data which is in the class is the same so the one that issues today can be redeemed 10 days after the bond I usually tomorrow will be redeemed 11 days after so that there should be the different object but they share mostly the simulator so the serum data is put on cast and the different parts which put is put on and off and here is a it's some use case with commutator pool so actually they allow you to create a pool that you can hold all the tokens inside and based on our tokens you put uh many kind of RP tokens based on the the period you are choosing

the interest rate you are choosing and many different kind of information you have showed us basically it's uh using um very simple Solutions what create a virtual pair and allow you to reduce slippage by put authenticity into simple so if you let's say if you have only one pool in the whole market and with all token inside this pool has zero uh see page in any cases and the benefits of food is that you can have a different year of risk for the simple you can have most valuable assets and with less interest and the less value of assets is much more interest both in simple so this is uh likely to be a next step of the amm solutions

and afterwards I explained why even the solutions uh come to a theorem so we mentioned some cases about creating Empire and mm so in the case of the APM Source like unicorn each time you create a pair the gas fees but in this examples you put all tokens in this single uh let's say a custodian contract I don't need to pick up this so we mentioned here the gasket is reduced identity function is reduced and hold up uh benefits about abstract storage I just mentioned before about how to have a virtual keyboard to actually build errors in with the same uh uh standard structures

and here it's uh where I talked about by tokenize this because actually all the the lfd tokens are yes 20 tokens they presume that they can tokenize Financial good but as someone work in the in the financial industry for for some time let's say uh as a backend engineer I know there are token standards not suitable for the most complicated Financial good actually you need to add a lot of things like training a lot since like you are adding a lot of keys on the physical keyboard basically it's not good solution and that's five it have a new Solutions let's make three four seven five and there are other considerations that when uh we were discussing building those structures but

didn't apply them just basically to go a much wider range of adaptation or possibilities throughout open standard and finally you have some benchmarks about the gas fees for the solutions we call Quad gas consumption let's talk about simple cases in uh in amm because we can have the Benchmark compartment so for the swapping uh curve finance and uh use up by three actually we are consuming the relatively the same amount of custody so it's a calculation from 10 introductions so this is average of 10 transactions and let me create Parts actually you can see the difference and units are based three

is very very expensive for the curve Finance it's less expensive but for multi-layer pool actually it's as the same like a slapping because because the data structure are virtual you're just adding uh a new mapping into the mapping uh structures and uh finally when you're adding the kitty it's the same it's more gas efficient in this cases and we'll talk about uh tokenizations of real good Financial assets uh read the messages option convert them into alternate information and convert them back again to ipfs which I can assure you is much more expensive than our Solutions in terms of viscosity and finally we can

have some examples and some discussions about the token standards for example here you have those metadatas you need to put into the storage and you need to display them to demonstrate only one instrument so this is done using Metallica structures and finally we have a tool which is building wallets to uh to to to help you Trend uh let's say CEO capacity informations and see all your bound so basically it will provide a Survival Solutions and uh we provide Solutions with the whole platform and with adapt platform to your needs and this is how the uh we operate and basically uh this is about

our Solutions and for more information about the demo of the applications and everything uh you can visit our website uh accessible Labs or go to debonair.com or visit us in our office in France or Paris and now you can book a meeting anytime and uh yeah it's basically about the presentation and anything uh related to our tokenization Solutions three yeah so I've finished my presentation so any question hello

hello yeah any any questions yeah any questions oh yeah I think uh our bodies may need a more background [Music] but I think it's very wonderful here and we all have a try later yeah I think the idea is we are talking about what D5 will be look like in two or three years it's not standard for now I presume but the keyword Solutions combined with instrumental storage for

the traditional Financial instrument I think it will be the cases for uh two or three years after when the big players come into the pictures they will bring their needs and someone worked for their back end I know their needs is much much more complex than what a Nifty token or what yes attorney token can carry so that's wisely why we designed the solutions and how the solutions are being designed as with the feedbacks of those traditional institutions and they ensure the QSC cases and the the data structures are being 100 compliant because they're only so this is uh basically by yeah why we need like the two dollar Solutions in the

first place yes right if there is no question we can go to next session Yeah question question and answer yeah thank you can you open the link and send in the chat window no of course yeah we have a click the three questions yeah [Music] okay so the Ico tokens is uh using uh

uh uh yeah and when we talk about about SEO is uh it's not successful let's say it's because regulation issues so they have no common ground of regulation for the SQL token which means that there are no HTO uh things is not continued and also another factor is very importantly about this is because the settlements are 100 centralized without any smart contract basically centralized method why this is 100 method because metadata again they are being built often so basically for yesterday smart contracts almost impossible to to manage the Logics of

the Redemption and everything option so there are two major issues about the STL Solutions the first that I mentioned is the kyc we should not consider and in most of the legal background it's not compliant and second one is about the data structures which is option and this lead to the lead to no uh smart contract based settlement and need to know smart contract based uh the management of the fund specifically is a centralized way and I I think that obvious uh difference between our Solutions and existing uh sto Solutions so for example if you are mentioning

this token Solutions one five one four zero zero actually it's they are using exactly the same structures like he has 20 and yeah 71 so what they are doing is that they put out those additional informations into uh off Trend storage so if I check yes yeah [Music] um if you check the solutions as you can see that they try to uh be compliant but how they are trying to be complied is actually they are they have a master uh role and the master is called uh

operators this operator work actually manage the financial good for you and here you can see that the the metadata structures here the events are everything they are in the same structure so basically you can adapt this to your need and you have a risk you should redeem the analysis it's uh like I mentioned a physical keyboard here and therefore you can make and use this for Securities the same kind of Securities where this is designed for or if you you read a little bit about the comments you can see that the most difficulty part for people to use this as the two issues first one is the uh it's this is too centralized and

metadata is the option and second one is about QSC and the kyc is actually it's much more more important as very important cases in the um uh business so if I search this is I I searched some uh keyword and uh mikara regression [Music] um okay yeah so so I I do suggest you to read those uh articles about the Mika laws and about the SEC regulations so we'll

be you will realize that how important the kyc uh built in kyc is uh in the token Solutions so I do uh urge you to read those articles uh in order to understand better the the classic part can you can you send the uh to the channel window yeah yeah yeah yes you can but actually you can find this kind of Articles uh with some keyword like me uh regulation video okay [Music] oh

most of them they were they already passed and they will come into fourth before the year 2026. so basically after the year after the period of Greece which means that the law uh issued passed without putting in practice after this period if you are providing D5 Solutions different massive services to a citizen based on EU or based in the states it's like considered as providing illegal uh Financial Services so it will be a very badly uh uh regarded by the Garment and afterwards how fairly evaluated values obviously as a collectible asset

how to fairly evaluate so basically in our cases if we are talking about the valuations and purely assets let's consider them as the same questions uh they have a way which is more based on the uh let's say the market expectation of the value of nft and in terms of the great indicative for the AFT let's talk about energy file so we have mentioned two things one is pricing the empty and the second one is fun as a make the empty moly keyboard so it makes them more treatable as a financial assets so how this is done in

our case foreign [Music] [Music] [Music] [Music] method allows you to put all the uh good into the same format of the

transactions so let me see how to get command I think [Music] so basically we are using a touch option and we convert the nft put them into a pool and have different kinds of tokens based on the values of the types of empty actually where like it's an auction in a real market and we are using touch measures which starts from the highest price of last auction to a lower surprise you decide and basically uh when the time passes by the price will become much lower and lower lower until someone takes a bit so in the example here

so this is a common Dash action method when they have the tokens compiled together they sell it on secondary Market you can use Dutch option to first start with the initial let's say last the highest last price of the F key let's say and the other package of the ftsa and then we have Dash option to reduce the price accordingly so basically they can have a package in the package and we can have 10 ffts at the same time so when you purchase you purchase a part of the share of the package of the AFT so basically how our Solutions can be used for the nft pricing but again it's it's not related to the erc2475 it's related to the top solutions that you can find in

you can find documentation of it in click on protocol yes you can find it here right I think yeah you can find all the options are being performed and you can find more information so if you are interested in the auction mechanism uh you can check this link here uh I'll send it again [Music] check the link for the code for the

information yeah so I I think it's all good for me do you have any uh questions