🟢 LIVE: MegaETH App Day on The Rollup

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The entire thing was just institutions. It's just It's next level. This industry is going to the next level. And guys, I I don't know what else to say. I'm bullish. >> HE SAID IT. HE FINALLY said it. >> I'm so bullish. >> And he's bullish. I'm bullish. We're bullish. >> [music] [music] [music]

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>> The five two mouths, institutions aren't coming, they're simply here. Taste the Rollup and major crypto, guys. That's right, let's go. >> [music] >> Welcome to the nest. See you on the show. >> We're back. Welcome to Mega App Day here on the Rollup Show. You out, our lovely special guest co-host for today's episode. Show, you out, welcome to the show. >> Thank you. This is also the first time I'm meeting you, so I'm rather excited.

>> Oh, we are going to have a lot of fun. Uh congrats on TGE, congrats on mainnet, the launch. Man, before before we get into I look, we've got seven tremendous apps that have all gone live on on Mega Eth with the launch. Just tell us a little bit about about the launch, about the week, like it's been a long week, I'm sure. Like how how are you feeling right now? >> I'm feeling surprisingly calm, and we've been working on this for the last 3 years, and now we're basically subjecting ourselves to everybody's scrutiny via a token and a live ecosystem.

I found myself very excited to see both criticism and praise from the community. Um so that we can address our feedback very much more lively. So, yeah, it's all very exciting. And um the team also, I think the highest morale we've ever seen. >> Very cool. So, everyone's everyone's happy with how it went. Uh and it seems like it's been it's been rather successful so far. >> Inshallah. >> Inshallah, indeed. Okay. Uh we've got a great show for you guys today. Uh we're going to be talking with some of the top apps in the Mega ETH ecosystem.

Uh and we've already seen I'm I mean there's hundreds of millions of dollars in TVL that is starting to permeate uh all of the best apps uh in Mega ETH, which is very very cool to see. Um so let's get into it. Uh today's show. We've got uh Mega ETH app day. You guys can see today's topics on the show. We're going to have a little fun with the markets and the weather. Shoryu is going to be filling in for Andy today, who's down there enjoying the sun in uh El Salvador. Uh and then we're going to get into the apps. Uh we've got uh we've got Zeet. We've got Euphoria. We've got World Markets. We've got Rocket. We've got Monster. We've got plenty more in addition to this. Shoryu, what are you

most excited about? I mean, we're going to get live demos. We're going to have all these founders talking to us. You're obviously very familiar with a lot of these apps already. I'm going to be learning a about a lot of them for the first time. What are you What are you most excited about to share with the audience today on Mega app day? >> Yeah. So, first of all, I think the Zeet team is uh traveling right now, so they can't make it. Sorry to the audience. It was uh scheduling has been difficult. What I would say is I'm very excited to show people how the apps actually collaborate and work with each other.

>> Mhm. >> For the longest time, people questioned the thesis of a general-purpose blockchain. If an app really takes off, what's the point of sharing block space with other applications? However, I think you and I got into crypto precisely for the the thesis that you can share APIs, you can share primitives, and you can share these experiences, and more importantly, you can build on top of each other. So, for the last 2 years, what we've tried to achieve is application that level each other's primitives. Why do you want to build the full stack if you can just build a part you're really good at? So, an example that I love to talk about is, you know, World Market, which

is a, you know, fully on-chain spot perps protocol. But, their customers aren't just retail traders. Their customers are other applications. So, we have another application called Hedera One, and they're building a retail trading interface on top of World. So, instead of building an order book themselves, they're like, "Hey, I'm really good at user acquisition. I'm just going to use World." So, what you're getting is this layered finance situation, or layered application situation, and they all live in this like one giant beautiful general-purpose blockchain. I'm hoping at the end of the today people will see that, you know, Mega has been shouting on top of a lung that

applications are so important. I hope audience can, you know, walk away thinking, "You know what? Yeah, these people really walk the talk. They love the apps, and the apps kind of all work with each other." I do think that we're probably the only chain that is putting significant amount of efforts in unique applications. Um and I always say that are the apps going to you know, find product market fit like this month in May? Actually, they might find product market fit in May. I would say like so quickly.

>> Yeah. >> I don't know. Um however, I do think that the ultimate goal is to have you know, your barista, your friends from college who are able to use these apps and be like, "Hey, this thing is really cool. I heard it's on crypto, but you know, it's not the scammy things that I'm seeing elsewhere." So, yeah, that's the goal is to really destigmatize crypto. Uh so, make sure that people are having fun with crypto-native primitives. Uh I mean as of I hope that one day people here will like crypto again.

That [laughter] we're cool kids back on the block. >> You know it. You know it. That That's what it feels like. It feels like for so long it was like cool Cypherpunk energy, hacker energy. We're going deep into the stack. You know, we all just We all just think about We all just nerd out on the architecture. Well, your barista is not going to nerd out on distributed network and and distributed ledger technology here. They're They're They're going to enjoy something like a euphoria or a world mark, right? And and and more consumer-facing applications.

And so, I think maybe there was a time and a place for the infrastructure. You guys thought very deeply. That was all the rage. But you're right. You guys are thinking about applications. I think you were one of the first to do this and now uh we're we're going to see other chains start to follow suit once they realize applications are uh of extreme importance. Um and so, that's today's topic. So, we're going to be talking all about these applications. Uh let's keep going uh in our in our intro here. We've got the weather, Shoy Yao. We're I'm coming at you from sunny South Florida. It's 83°.

Here it feels warm. The entire industry is going to be here in Miami next week. [laughter] So, I'm giving them a little bit of a heads-up. This is your weather man coming at you from the roll-up today. Sure, yeah, what what's the weather like in California up there in North Cal right now? >> You know, it's a bit foggy as most mornings. I think it's going to clear up as, you know, the market is going to clear up hopefully. Uh it's crispy. You know, I I was in New York for so many years and I I kind of can taste the air quality difference in California, I would say.

Yeah, they said that it makes a huge difference. >> Yeah. >> I'm hoping so. And um What else? It's It's green. Uh it's >> Yeah, spring, foggy, crispy. You got a beautiful plant behind you. It's very There's very natural vibes, you know, it feels feels almost like we're like reborn. You go TGE, you go mainnet. It's like, "Wow, this really is spring. This is new season of life." Love Absolutely love to see it. Okay. Um and so we are we are very excited to share the warm weather with everyone that's going to be traveling here uh very very soon.

Let's go into uh what a lot of people enjoy about our intro. Sure, yeah, may not be able to comment too much on the markets, maybe the large caps, the Bitcoin and the ETH. Maybe we'll we'll talk about ETH a little bit more. We don't have uh mega on our on our display here quite yet, but you know, I think we have access to maybe the top 25 by market cap. I don't know, maybe by you know, by the summer, by by the fall, we'll have mega ETH up in that in that echelon. Up there with Bitcoin and ETH and Solana. Uh market's green today, very very uh very good to see. Up 3% on Bitcoin, rounding out 78. ETH is looking good at 2300. It's been a lot of chop.

Uh and and so I think everyone is actually very excited about seeing some new uh some new applications, getting to try some some of these things out because the market has frankly been a bit boring. It's been There's not been much volatility. It's been very choppy. There hasn't been much happening. So, we've we've gone back to our roots. We want to experiment with the chains themselves uh rather than just trading all day on these uh on these exchanges. But obviously there's still lots more that uh we can trade. World Markets is going to, you know, allow us to trade anything and everything, 1000x leverage all across the board. So, we're going to hear more from their team in a little bit. Uh Shou Yau, I guess my question is what is it, you know, what is it like as

a founder pre-TGE, post-TGE, let's just say Mega, you know, was on this chart here and you see green, you see red, your emotions are going back and forth. How do you stay true to yourself? How do you stay balanced and make sure that you're doing the right thing for your business and for the ecosystem as a whole despite the distractions on the chart? >> Yeah, it's funny because I don't think chart is distraction at all. >> Okay. >> I think being a crypto founder, your job number one obviously is grow revenue. Your job number two is the token. And to me, people say, you know, token is a

product. It's not true. Token is part of the infrastructure. Like it just represents so much. It can move liquidity, it can move money, it can move sentiment. So, you know, I we launched the token yesterday. I basically perpetually have the chart somewhere with me. I probably dream about the chart and it's probably not healthy. In fact, most of my founder friends told me to ignore the chart. I think they can probably ignore the chart a year in. But I think like right now I need to be like really obsessed with it. And I would say um how does the chart change how I live my life day-to-day?

>> Yeah. >> I think on the one hand it just comes so clear to me that unless we have this one North Star, which is the growing the mega GDP, uh which honestly right now is growing our stablecoin USDM revenue via our applications, nothing else is actually matters that much. What a community and investor want to see is hey, team is doubling down, team is doing real work, team is not just like posting memes on online, right? Uh we need to be able to do that, but more importantly, we need to tell people we're doing that.

And I'll be very specific. I'll give you an example of something I regret when I woke up this morning. So, >> [snorts] >> we have this very unique tokenomics, which is uh KPI rewards. The idea is like really simple. The idea is insiders should not be earning 60% of any token out of the gate without proving that they are worthy of taking the token. Like, I stand on business in in this regard. And then the way we did it was okay, we're going to set a bunch of KPIs, and they can be economical or technical. And if we meet a KPI, then people who participate in KPI along with the team and the foundation earn more KPI, which is like really we took

inspiration from Elon Musk. You know, he took $1 as a salary, but you know, if Tesla did really well, then you have this huge asymmetric upside. So, we had a KPI economics, and we built a product around it, which is called Flux. However, and we launched it yesterday with TGE, and this is the mistake I made. I just didn't talk about it. In my head, I was like, oh my god, people will be so overwhelmed with D G E. What's the point of overwhelming people with another product? It is just so wrong.

You should just like if you do the work, you should just really talk about it. As a result, we're you know, we miss a lot of people just didn't know that we had this product and they were not participating in it and then you know, people were confused with the math and and by the way, people didn't understand if you participate in our previous sales, can you you know, can you can you still participate? And the answer is yes, but again, we didn't communicate that. So TLDR, very excited for the token, very excited to grow the mega GDP, but more importantly, we should communicate more.

>> [laughter] >> Yeah. Well, I mean, you got you guys have done a launch in a way that most other people haven't like you mentioned. I mean, Elon was able to sort of wrap his head around this and I I I saw even, you know, SpaceX, they're you know, if they get seven and a half trillion dollar market cap, then and they put a they put a million person colony on Mars, then Elon gets his pay package, right? So that's effectively what you guys are doing, right? You said if if we hit these numbers, if we hit these KPIs, then we will unlock a certain amount of tokens. Why don't why don't we just talk briefly about some of the KPIs themselves? What are you targeting like the top three or four KPIs that you

have? What are you what are you aiming for? What are these goals? >> Yep. So the single most important KPI is the applications. We you know, we I spent so many hours of my life with the applications because they are probably the most important factor into our flywheel. Sorry to use such a jargon, but it kind of is. Because we have the applications, the application will use our stable coin and stable coin allow us get revenue and the revenue will be able to buy back mega token. And the idea is we don't screw anyone who believe in us. If you believe in us, you participate in KPI, you will

get rewarded. So, the the most important KPIs to make sure that our apps actually get adoption. The second one will be more specific. You know, it's really around DeFi. And our lives were made a little bit harder last 2 years because of the the hack situation. I think our flywheel would have taken off a lot earlier. Um but kudos to both Aave and Instadapp were able to pull it off uh now. So, how um can we um get the DeFi flywheel taken up and more importantly get exogenous yield coming on chain. So, instead of just the usual token emission. I think that's also really important.

Um The third one is the more technical part. I just I mean, Robbie, I don't know how you think about it. Like, I fundamentally just like love technology so much even though in our industry people don't care about that anymore. But I still think um you know, the the ability to make performant and the fast blockchain and the ability to experiment on censorship resistant is a hallmark of this industry. And more importantly, we have put Ethereum decentralization as one of our KPIs as well openly publicly uh because we think a more decentralized Ethereum is good for everyone. So, yeah, these are the consideration uh apps,

mega GDP, and then technical KPIs. >> Mega GDP, that is an indicator that I think we're going to be watching for a long, long time. And you're you're absolutely right. I mean, a lot of these uh foundational principles have also come into question as of late because uh of, you know, uh the Aave, Kelp DAO, Layer Zero, you know, this whole debacle. Um, and so, you know, given that Aave and Athena were such an important part of the strategy, and I think I think I I I recently saw from Stani like $525 million now in TVL that has been driven as a result of USDM and MegaEth's uh, successful launch.

Were you planning on launching earlier, but because of the Kelp DAO incident, you decided, "Hey, we have to wait until this is resolved because this is such an important part of the strategy?" >> Yeah, we had a governance proposal that was happening, but got postponed. And I mean, we should just accommodate whatever that's happening over there. Like, our launch is not as important as making sure that everybody survived the North Korea. Like, that is so clear to us. Um, we are very grateful to our ecosystem partners. I think people don't talk enough about it. When you have money on chain, and every single smart contract exposed risks, then you really have this level of like coordination and

almost some sort of belief in each other. So, I think for us, the, you know, Stani, the Aave team, and Guy, the Athena team have just showered us with so much faith and belief. And um, I I wanted to share more of the story because if you go on Twitter, everybody hated each other, and everybody think like people also hate like, you know, that's just not true. If there is a positive positive sum game, I I just it's in everyone's interest to uh, to work on it. So, I I I think about our launch for the last 2 years. There's we just could not have done it single-handedly. And sometimes for me, like calling another founder and, you know, asking for collaboration and get

instant response has just been so delightful and such a rewarding experience for everyone. >> Yeah. Yeah, I I mean, the the entire industry has rallied around this incident. I mean, you know, you could place blame in a number of different places, but I think the fact remains DeFi United has been this collective it's been this collective Kumbaya. And I think, you know, that gets a bad rap, like the Kumbaya, you know, saying, but in in in the real spirit of what you're talking about, everyone banded together for something that was bigger than themselves. It was the idea that everyone is acting in their self-interest, which I think is a is true to the nature of, you know, game theory, libertarianism, and free market.

But it was in everyone's best interest to fix this this entire situation. It speaks to the truth of what composability means, I think, in this ecosystem. Once you start having these layers of technology start working together, it creates something that's bigger than any one one part, right? And that this is, you know, the the idea of synergy and and building things that are bigger than the whole, you know, 2 + 2 is 5. And and it's important for two and two to donate half so that you can save five, right? I think that's math. Um and so and so it was really incredible to see DeFi United band together. I think it's very important that Aave was, you

know, uh kept uh uh solvent. Uh and ultimately this, you know, has has led to some of the success that you've mentioned today around, you know, the the mega Aave Athena integration amongst the three. Um this has obviously been a long time uh in the works. You know, you've been preparing for this for for such a while, uh working with partners like Athena and like Aave and building out the application ecosystem. I'd love just to hear, you know, some highlights. You like you said, you were building for 2 years before launching TGE.

Like, what was like Was there a moment where you were like, "Oh my goodness, I don't know if this is going to I don't know if we're going to make it. This is hard. Like, wow, what are we doing? Are we doing the right thing?" And then, I'm sure there was moments that were extremely positive, but I I just love to hear like some memories from the 2 years of building. >> My favorite memories are with my own team. >> Yeah. >> I think we have been through so much together in terms of working with our ecosystem partners and launching testnet, launching stress test, and then doing public sale in very novel format, and you know, going through the regulatory hurdle and all of that. I

have to say that my teams have demonstrated so much creativity and resilience, um and we're able to proudly just showcase who we are without just without any I I guess hesitation. Yeah. >> Yeah. >> my favorite memories are with my team. Uh another few, I would say, moments that make me smile are uh some of the hangout we have with mafia members. So, even uh 2 weeks ago, I was I was in New York in your studio. Uh we did a rooftop mafia hangout, and I got to meet a new mafia members.

>> Very cool. Very cool. >> one of them teach me something. Like >> Yeah. >> I mean, it's insane. One of them was was doing a DEX, and then they have a compliance a competitive advantage. And I was like, "Oh, wow, I never thought that could happen." Um and then, there's another team who's building a a gamified experience, very much retail user-friendly. I was like, "Oh, wow, I didn't know that you can present option trading in such an easy-to-understand way." So, I'm just perpetually uh how to say, impressed by our application founder. I can never do what they do.

>> Yeah. >> I think that's the second memory. And then the third one is I will never forget when we had a pre-deposit bridge debacle. Robbie, I can still remember when when that incident happened. >> Yeah. >> We were in Turkey. So, you know, we have bricks, right? So, we're in Turkey as a as a core team. And then that happened. And then I remember I I just like stood there. I was like, First of all, it's not a hack. But second of all, uh so like can I blame anyone on this?

Like no, you can't blame [laughter] anyone. So, it's all your problem. So, do do do you stop deposit? Do you let it go? Yeah, anyway, I still remember that incident. It's just anyway, it's a joy of being a founder which is you just don't know that there's there's like secret problem. Not secret, but like random problem pop up from nowhere. >> Yeah. No, abs- absolutely. I mean, these are things that ultimately will make the ecosystem stronger. And I and I think, you know, once you are able to learn from some some of these experiences, you can then share that with, you know, applications in the ecosystem so that they don't make similar mistakes. And I I I I still have to remind myself sometimes how early this this industry is because

we're we're still allowed to make mistakes. We're not going to get it perfect, right? The the entire thing here is only a few years old. And I think part of the the synergy that we talked about and the composability that we talked about before is about learning from each other's mistakes. We know what happens when we do like I'll really make stablecoins. Like when you have Terra Luna collateralizing something like the thing doesn't work, right? We know what happens when we have one of one constructions. Like now we know and we can fix this going forward.

And that is just more solid of a foundation that we can use to build the next scale iteration of scale in this industry um as a whole. So, very very cool. Uh Shoyao, thank you for for sharing, you know, some of the some of the journey uh in in early mega ETH lore. We've got our first app. Um so, we've got Casey uh representing um Euphoria. Uh and so, we we are going to get a bit of a demo. Uh we are actually both familiar with uh with Euphoria. Uh this is one of the few mega ETH projects that I I have seen. I I am somewhat familiar, but uh I'm very excited to get uh um a fresh look at Euphoria and to share it

with the entire audience here. So, without further ado, uh let's get into our first app and start off mega app day. There she is. Casey, welcome to the show. >> Hey Robbie, thank you for having me. Nice to see you again. >> Absolutely. Thanks for coming. Uh you've got Shoyao and and myself here. And uh it it's I mean, we we can see what's on your screen. It looks like a ticker and we've got a bunch of boxes here. Um I think people are going to recognize this uh this UI, but why don't you just walk us through what what we're what we're seeing here?

>> Yeah, totally. So, you're currently looking at the live ETH price here is what this line represents. So, you can see we've got Ethereum up in the top left. I'm not sure if you can see my mouse or not on the screen, but uh if you tap around on the screen, you can see that we're selecting uh where we think that the price is going to go. And so, if we're correct and the price hits our square, then we receive a multiplier payoff. So, where does this multiplier come from? Well, you can think of it as like an options-like payoff, right? The further out of the money you tap, the higher the multipliers are. So, you can see we're 100x all the way out here. >> [clears throat] >> What's that?

>> Sorry, you hit the first one. I got I got excited. >> Yeah, we'll get some music on so you can get excited a little here. All right, there you go. >> There we go. Okay, so those the ones that you're hitting higher up are going to be farther out of the money, the ones farther below as well. And so we're kind of just chopping, but you're you're you're hitting. How much are you making right now? >> Yeah, well, we'll see. So we had a 5x there. We missed one, but we had a 5x there. So I I don't know what we started with, but I think we're at about break even maybe since we started.

>> Let's go. Is it Is this Bitcoin? >> This is Ethereum. >> This is E. And do you have exposure to the underlying here? Are you just pure you're just settling in cash and you're just making these these options plays? >> You're settling in USDM, and so you're just trading yeah, the price action. >> Okay, what do you suggest? First of all, where can people go to to play this cuz this this is a lot of fun. >> Yeah, so they can go to euphoria.finance and uh sign up for an account. And we will be going live on May 14th for our full public mainnet. We currently have a private mainnet that's running. We've got, you know, a few people that we've onboarded early. We surprised everybody.

We had a call the other day and surprised a bunch of our community members with early access. And so uh our full public launch is going to be on May 14th. So uh go ahead and go to euphoria.finance and sign up for an account. And maybe if you sign up on the stream, I'll go ahead and get in there and grant some access today. >> Yo, guys, sign up. Sign up on the stream. Early access. Getting early. Wow okay. And so what is Okay, what is preventing me from I'm already like my game theory is already thinking like how can I how can I like uh optimize the strategy here? What is preventing me from just choosing like everything? You know, like without like the extreme extreme out of the money, but like just clicking all the squares.

>> So if you're clicking all of the squares, you're you're not going to make money, right? So like if I if I click 100 squares here and I end up the price ends up going through a straight line and I hit like, you know, a 1x, 2x, 3x. I probably tapped more squares than it was worth. It's not economically viable to do such a thing. So, that's what makes it fun is, you know, on the stream right now, we have a pretty low volatility period, but when it's moving up and down, oh look, you can see there's somebody else tapping on the screen. So, you can see other traders tapping on the screen, too. >> Oh.

>> This person is now hitting. Um So, yeah, so that's not me. So, you can kind of trade like with and against people as well. Uh but yeah, I mean, it's there's different strategies for different periods of volatility. Whenever it's super volatile, you want to be taking an approach that's kind of like you're you're reaching for the the upper and lower bounds and the price is just kind of tapping where you're at and you're hitting higher multipliers. You might miss a little bit more frequently, but you're going to hit bigger payoffs. And then in times of low volatility, you can see there's somebody here that's kind of just like camping out and cherry-picking these, but the multipliers are much, much lower whenever you're trying to take that strategy on. So, you know, earlier I was showing like the the checkerboard strategy. We were talking about the small the other day. This is

one that I like to do in times of kind of like a a medium volatility and I will tell you though, I mean, some people are sharp, right? Like on our our testnet trading competition, we we just flew out over this past weekend the winner of our testnet trading competition to London and presented him with a Rolex and we'll be posting all of the footage of that, but he crushed it and he did a couple of different strategies and he ended up made 71k on our our testnet trading challenge and so yeah, he crushed it. >> Yo, 71k and a Rolex. >> 71k and a Rolex and a trip to London. We sent him you know, Nathan and Daniel presented the watch in in person and got to hang out, took him to like a nice cigar lounge and took him to dinner, had a nice day out. So.

>> Very cool. Very, very cool. Is there a competitive like dynamic here? Cuz we can see other people. We obviously see you hitting this checkerboard in yellow, but then we also see like people that are Oh, there goes Eath. Oh, pump it. Let's go. And And so And so we also see people that are like choosing things, right? These little like Wait, what? We're We're We're pump it. Let's Let's fly. And so we also see other people, you know, hitting these squares. Is there a competitive thing like if they click it, can you also click it? Do Do you run out of options like open interest at that level? Is there any kind of competitive dynamic between players on on this app?

>> Great question. So, some of it has yet to be revealed or really like shown publicly, but there will be more competitive features that that kind of roll out over the next as we start to roll things out. So, right now it's just that it's it's just social in the sense that you can see what other people are doing. And, you know, if you see that this PFP keeps consistently like you can see whenever they hit, it does like a little animation. If you see that they keep consistently hitting, then you can start to trail them. So, there's not like an automated copy trading profile set up quite yet here, but there will be So, like that for example, where he just hit and we could see it.

But, yeah, these are These are features that are going to be rolling out here where you can actually like join in with your friends into a session-based trading session and you can go head-to-head with one another and there's prize pools and things like that. But, for right now it's it's just simply you can observe what other people are doing. But, you can copy this. Like I could go and copy what this guy's doing. >> You can almost create like tournaments in like a fantasy sports style kind of way. Very very cool. So, yeah, you know, you mentioned at the top of the show how you're one of the things you're most excited about for mega app day is to share how some of these apps are working together.

Casey mentioned that these trades settle in USDM. Tell us about what this this dynamic between the stable coin and the application How does this ultimately fit into the broader mega ETH strategy. >> Yeah. Uh Um Cuz USDM is just superior than any other stable coins. And then we all like it and can benefit. Actually, um see um from a Casey's perspective, right? She wants a stable coin that's actually stable.

Um I would be better if the stable coin has a value flowing back to the ecosystem, which is what we designed with USDM. So um from my point of view, the USDM becomes the liquidity engine for Euphoria. And Casey know that not only the protocol, but their users might one day benefit from the yield as well. So uh I think that's the level of collaboration. I don't know if uh Casey has other plan, but maybe one day he they will work with other protocols, experiences on Omega. Uh maybe we can introduce other sort of assets. Uh maybe we can engage with other uh projects in terms of top of the funnel, do marketing activity together. Like next week in

Seoul, um we're actually bringing Euphoria to Korea uh along with uh many of our other applications. So people can have a holistic view of all the fun they can get on Omega. >> Oh, well Casey's having some fun over there. >> Oh, let's let's see what the mega strategy results us. >> We almost got the A in before ETH started coming for our options calls. >> Let go. ETH is ripping. >> Euphoria is ripping. Casey, tell us a little bit about the plans here as we see the the mega strategy unfold. >> Yeah, so I mean for us, you know, to to Shiu's point, like we we wanted to fully abstract away the not only just the stable coin, but like the crypto

entirely from Euphoria from the experience. We want this to be an app that can actually break out of crypto Twitter. So, you know, that comes from these social features. It comes from extracting abstracting all of that away. It comes from, like you said trading competitions and things like that. So we are really looking forward to uh the competitions taking place in Korea. Uh you know, we are in conversation with a lot of the other apps in the ecosystem for different types of partnerships and different types of activations within the eco. I think that there's a lot of synergy with uh with different folks and so um yeah, for us it's you know, on the stablecoin specifically, it's I want a user to be able to hear about Euphoria from a friend or see it on social media and go download it. It's abstracted away with the Privy wallet. They see uh oh, I

just have to sign in with my email address or my X and then the deposits get converted on the back end to USDM from whatever you came from, whether it's crypto or cash or whatever that might be. And you really never need to understand or have some kind of interaction with like crypto per se. You just come and you're just experiencing some fun app. So for us, that's the goal going forward is that this is, you know, an experience that is it can break out of crypto Twitter and anybody can use it. >> Yeah. And and why did you choose Mega Eth for this application? Was it a matter of scale? Was it Was it Shue and her leadership and and the team? What what was it about Mega Eth that that drew you in and you said, "Yes, Euphoria is is uh

is home uh at Mega Eth." >> Yeah, so I mean Shue's here today. So of course it is our our queen Shue out. Uh >> [laughter] >> No, I mean we we get along great with the team, but um you know, it's a couple of things. It's one from a technical perspective, yes, it's the speed, it's the scalability. Um Mega Eth enables a web two akin experience and that's what we were going for, right? We're not competing with web three apps, we're competing with the attention of the likes of, you know, different apps that people that are using people using every single day, whether it be TikTok or Candy Crush or you know, people like to call us like the Subway Surfers layer when you're on a call like this and it's it's in the background like that. Um but those are the types of things that we're

competing with and Mega really enables that that type of environment, right? It it's that web to a kid experience. But we really loved the ethos of the team and of the builders on the chain as well. We're We're like, "Hey, we're going to revive like DeFi summer type of feeling. We're going to bring back experimentation and like we're just going to bring back this new ethos that's like stop with the copy pasta, stop with the you know, the next L2 that has a perp decks, borrow and protocol, Uniswap fork, and that's it. And there's like no innovation, there's no reason to go anywhere." Um so yeah, I don't know.

It's It's a lot of those things, right? >> Yeah. Um I I do want to ask about um assets. You know, I I think when you showed me this um first, we were at a conference or something. You came up and and you already had the demo working. So you you're queen of these demos. Um and so I'm curious how you see scaling into the asset universe because this modality of you know, clicking and trading and just the line across the stream, we you know, anything can be expressed in a chart these days. You You look at Hyperliquid got, you know, um like four of its top 10, I think now, are non-crypto assets. You know, people are trading oil and they're trading gold and these sorts of things on, you know, what used to be like a crypto exchange.

And so, do you picture people trading oil and gold and, you know, traditional equities on Euphoria? What is the plan to add additional assets here? >> Yeah, so we're going to go much deeper on the tap trading experience. So there's two things with Euphoria. We'll go deep and we'll go wide, right? So the deeper is on this actual tap trading experience, which is um more ways of interacting, more types of interactions between you and other users, as well as like you said, additional assets, whether it be equities, commodities. Um we are, you know, beginning to explore a lot of these conversations with uh different partners and providers. And so, yeah, of course. Like this is a great modality for trading anything and it's, you know, we joke that it brings like the pump fun feeling to blue chips. And it's like, how can you have fun trading something

that, you know, is moving a couple bits a day? Well, it's by, you know, jumping down to a lower time frame, visualizing the experience, and making it a good time, making it competitive. And so, yeah, there's there's a ton of surface area to experiment with and to play with those kind of things. >> Absolutely. And and are there any plans to to start to integrate more with some of the other apps on Mega ETH? How are you thinking about, you know, how the Mega ETH launch went? And just generally, you know, it's been it's been a big week for the entire ecosystem. How how are you how are you approaching it?

>> Yeah, I mean, we're feeling good. We I mean, we're excited. We haven't launched yet, right? So, we launch on the 14th. So, our big week is in 2 weeks. But, we're we're super happy to see how things have gone for Mega. I mean, look, it's it's day one of the ecosystem. And it's one of those things that I feel nobody remembers day one of really anything. So, I think that what happens over the next couple of months are what are going to matter the most. But, I would say the launch was it went pretty well. It was well received. You know, you have your people that they're like your loyalists. You have your tourists that come in and they they dump their tokens and they leave. And there's these are just expected things that'll happen. But, I think all in all, it was pretty well received aside from,

you know, there's a a few things here and there. But, it's not to be unexpected, right? It's a chain launch. Like, I it's that's how it goes. >> Yeah. And and one of the more successful ones as of late. So, yeah, anything that we we might have missed here on on Euphoria? I want to make sure that we squeeze all the alpha out of our out of our apps today. >> I wanted to ask, I don't know how much you guys can share the I guess the more social additional features. >> Yeah, so I mean, you know, I talked about like the competitive mode that that we'll have there. And also, there's there's things that we haven't quite talked about yet. So, just kind of like different different ways of tap trading. Um, expanded time frames,

things like that, right? There's there's so much to play with here. And I don't know, we haven't made announcements on a lot of this stuff, so I don't want to drop too too much alpha here, but what you see today is is the least that you'll ever see from Euphoria is what I will say. >> Very cool. Casey, thanks so much for joining. Um absolute pleasure, great demo as always. And and one more time, remind people where they can go to sign up and uh you know, maybe there's uh there's some early access out there for the roll up uh the roll up crowd. >> Totally. Yeah, so head to euphoria.finance, create an account, and shoot me a DM at Casey Craig on Twitter, and I'll go ahead and get you white-listed because uh we love the roll up. We appreciate you guys.

>> Absolutely. Casey, thanks so much for joining and uh shout out to Euphoria. Love to see it. Excited for the May 14th launch. >> Thanks, Robby. >> Thank you, Casey. >> Hi, Shiu. >> All right. Shiu, how you're still with us here. Man, what do you what what when you first heard about Euphoria, like what crossed your mind? Did you immediately know like this is something that we want on Mega E? >> Yeah. We met uh Nathan uh the other co-founder first, and I was really impressed by his background. For the audience who doesn't know, they uh Nathan was the single most profitable MEV trader in the entire history of Ethereum. He was featured actually on Forbes. Um he Yes, this is like I was like, how did this guy just be so clever

with transactions on the blockchain? Uh later on, I realized that he also uh started a uh exchange business, uh which allowed people to on and off-ramp very easily. So, he's like a very seasoned um serial entrepreneur, and he's very obsessed with retail trading experience, which is our thesis as well, right? I think Casey mentioned that, you know, Mega is going to abstract away the blockchain complexity, which you know, we have another product showing to folks in May. Uh really just like resonate with us. Um and it's just been such a pleasure to work with A-tier founders. Uh they kind of just do things, and they're so advanced. Um I think even the Euphoria, a lot of people have seen the video of Euphoria. Like I think the video went

really viral on Tik Tok as well. Um I think yeah, it's just been uh a delight for and I think they they're absolutely going to go crush it in Web 2 like with the retails. >> Yeah. >> I'm I'm really excited for additional assets. Um I think, you know, the one thing about the the experience that they've built is that it's so applicable and so flexible to so many different things like across finance. You can apply it to all different kinds of assets and then you can also like like we heard social features tournaments competitive features. I think there's a lot of people that there's a lot of young people that are going to feel like they're too late to just buy the assets. Remember like you and I it was like

all right, we missed ICOs, but at least we can get like at least we can still buy like Solana or we can buy some of these like early assets. You know, for for and then it was DeFi, right? And it was like, all right, well, we missed the assets, but at least we get thousand percent APIs and in food coins, right? Or or or SushiSwap and food protocols, I guess. Um and so I think there's a lot of younger people now that are going to feel like, "Hey, we you know, we missed the high APIs. Maybe we missed the the hyperinflation of a lot of these assets, but at least we can still participate in some of these like fun games and we can start to interact with the chains. We can start to interact with the assets themselves

and hopefully create, you know, some very unique and optimized strategies because um you know, they they don't have kind of like the vanilla just, you know, buy the asset. Um they can they can interact with it in a much more creative way. >> So, would you play it, Robbie? >> What's that? >> Would you play Euphoria and how long would you do it? Cuz one of our intern he took his college friend to play Euphoria and hit one. is just like you can see kids on a couch play for hours. >> That's one of the things if I start playing I'm going to get addicted and then I'm not going to be able to host the show. I got it I have I'm like I feel like I'm old like I have responsibilities. I want to just sit on my couch all day and play euphoria.

>> [laughter] [gasps] >> Um Yeah and and and she's right. What she call it the Subway Surfer layer? Like we're going to have like you and me are going to be in a meeting talking about some important stablecoin business or something and then I'm just going to have my little like euphoria window up there and it's going to be click click click. Yeah. Oh yeah sure. Yeah. Yeah. I'm going to for sure. Yeah. [laughter] And I'm just going to be options trading on on euphoria. >> Yeah. We um Yeah I dude I have so many we have so many more interesting experience. I also think there is a middle ground between the completely gamified trading and you know the the professional trader. There are something where you have to I think

a lot of the complex financial instrument you have to break them down. I think even for pubs a lot of people probably still don't know what they're trading. To be very honest. I I think there are just like complexity there. >> Yeah. >> So any founder who's able to break it down uh not even in the sense of just like ticker ups and down I think will capture some um some retail volume. Um actually Robbie I'm also curious where do you trade? >> Yeah. Um look it's been it's been difficult to stay safe on chain.

Um I still do some on chain trading um mostly you know a little bit of of yield farming here and there but nothing too crazy. Um and so I've got some centralized exchanges and then I got hyperliquid and I I've just been I've been on hyperliquid. I It works. It just works, you know? There's nothing nothing else to say about it. Um but I'm also not like a super high frequency guy. I'm usually like I like I have a thesis. I like to see it play out. Um and I usually take maybe like a time horizon of, you know, a few months.

Yeah. >> Yep. Um, I think our next guest is Lucas. He's going to explain to you um the world market. >> Yes. >> Yes. Yeah. >> We are getting Luke Yes. We are getting Lucas set up in the back. Uh he is almost ready. We're getting his screen share set up. Um Shuya, one thing I I wanted to ask you uh in the intro, didn't get a chance to, is about the Fluffles launch. Um this was it seemed to be uh very very uh successful at the time.

Uh and then obviously now, you know, with the launch, it seems like every Fluffle owner is happy. Just give us a sense of, you know, Fluffles uh maybe what it was like kind of when you were setting things up. And then now that we have the chain and the token live, you know, what are Fluffle owners uh what can they expect, you know, from here going forward? >> Yeah. Fluffle to me represents the core spirit of Mega community. Uh really. Like I still go back to the different personas and artistic direction that we went to went with. Like one that I still remember today was um the outlaw uh Fluffle. I I think that that's really

very much our spirit. We are never conventional. We're very opinionated. Um and I I I want that spirit to continue. From an economic activity perspective, like people who participate in Fluffle are you know, we white list a bunch of addresses and people who minted Fluffle uh have proven to be very on-chain native or have contributed to you know, crypto at large or just mega as a smaller eco. I would like to continue to engage with the Fluffle community. We Robbie is is actually beautiful. The blockchains are so beautiful because you can see things. You can see what people

have done. You can see who have they have interacted with. Um and we've seen some Fluffle folks who also, you know, participate in ICO and probably have a part of our Telegram group and have done some of our application. Um and you are able to curate experiences based on their on-chain activity and I'm like very excited about that. But also Lucas is here. >> Yeah, absolutely. We're going to bring Lucas up in just a moment. We're going to get his screen going. Um and so at you're you're absolutely right. I mean, I >> [laughter] >> I you know, I was just thinking what's I got my search history and I got my on-chain history. I'm not sure. People are very protective of their search history. I'm sure maybe their on-chain history is uh >> [laughter]

>> even even more uh suspicious potentially. Um Lucas, why don't why don't we go ahead and and uh get the screen going? I think uh we might have lost it behind the behind the show. But uh let's go ahead and share and then we're we're going to bring you up, man, and we're going to we're going to go through World Markets. There it is. Uh let's let's go ahead and and bring up Lucas uh from World Markets. >> Yo, what's up? How's it going? >> Good to see you, man. Welcome to the show. >> Thank you, sir. All right. >> We can see we've got a bit of a what is this? A This looks like a DEX.

Uh you 100 USDM for a little bit of ETH. Um so, yeah. What uh Lucas, welcome and uh you know, tell us a little bit about yourself and what what what we are looking at here. >> All right. So, World Markets, we shipped this UI. This UI is exactly zero days old. So, this is a pretty exciting uh demo here. Um we shipped it about an hour ago. So, World is spot, perps, and lending amongst vaults and other things. Uh fully on chain, fully on mega ETH. So, there's no back end server. Um it is uh if you've read like Vitalik's like you know low risk safe DeFi article or or read his tweets about kind of what DeFi is, this conforms to every single

uh you know top every single point uh top down. And what's unique about it is that nothing has ever been built that uh conforms to kind of like the real meaning of DeFi, i.e. like it's not a centralized app calling itself a a DEX or like you know some app chain bullshits or you know hybrid whatever. It's the full thing. Um and it is the most sort of fully functional or feature rich uh uh DeFi application that's ever been built at least to my knowledge. So, you got your swap, right? Then you got your trade. So, this is perps trading fully on chain. This is universal margin. So, every

uh spot asset, yield bearing assets, uh you can use BTC ETH as collateral, your loans, your unrealized P&L. All of that contributes towards your available uh your your available margin or your available to trade quantity. You can basically do more with your money, make more with your money. You can uh earn yield. Uh right now it's about 7% on your collateral that's used to trade perps. Um you have uh so, let's let's actually look at that for a second. So, then you have your lending vaults.

So, right now we have uh USDM, uh BTC, and ETH. Um I got uh I'm a little bit poor on this current wallet, so it's about $50 in here. Uh I should probably open a bigger one, but um so, you deposit into the lending vault like you do um I can go through this, but like you do with any other kind of vaults, you then get a vault token. Now, this is this is real DeFi. You can use that vault token and lever it up on Aave or Morpho, right? You can hold it in your wallet, you can do whatever you want with it. You can stick it back in the exchange and use it as collateral to trade, and it's earning all that interest. Across again, like all underlying assets, right? So, you have these other assets as well.

Um and then uh so, that's lend. So, let's say you wanted to get your vault token here, earn some yield, stick it back into trade, um trade perps, no problemo. We also have this is pretty nifty. Um So, this is probably most interesting for why try actually. Uh spot auto borrow. So, you can actually trade perps. So, you can trade spot on leverage. Very similar to how you trade perps. And this trade UI actually abstracts what it's doing behind the scenes is is pretty complicated.

It opens and closes and renews uh lending positions. Um as you're opening and closing uh leverage spot positions, and it abstracts all that away. Now, let's say that you're more on the pro side and you actually want to see like um you know, the like every loan and every perp and every spot, you have what we call desk uh for trading desk, and you can trade all these markets fully on order books. Um like from a centralized UI as well. Uh these other pages kind of abstract away um the more sort of fully like feature-rich and and kind of like d- you know, nuances that come with um managing

every component individually. And then, we got vaults. So, this is our uh HLP equivalent, our our trading vault. Um the thing that's really unique about it is that most DEXes, uh so, this is currently institutional capital only, it will be opened up um in the near future but most DEXs and really exchanges broadly their vaults are single strategy vaults. So they build some strategy internally say market making and you know it just does that. The disadvantage is that the risk adjusted returns tend to be lower, volatility is higher.

But the biggest one is that it doesn't scale because alpha decays. And so what's really unique about this vault is that it's actually a a multi-manager setup managed by Anima which is taking capital in and then allocating it to underlying trading teams doing a diverse set of strategies that are for the most part market neutral, flattens the volatility, increases risk adjusted returns and you can use that as collateral on world. All right, that is the >> full >> And so Luke, I just want to preface by saying you are extremely DeFi. Like what we saw just a minute a few minutes ago was you know we had euphoria on and it was like

totally like zero DeFi, right? You're you're saying you meet every criteria of the low risk DeFi article by Vitalik. This is for people that are like look looking for true DeFi. I think it's important to mention because this just shows the breadth of mega ETH here and I think Shuyau you put put out you know you've got sort of the the the barbell approach, the left curve right curve here. Could I and so I've actually got for Shuyau like just curious from the mega ETH perspective, how do you build something that's able to support both ends of the spectrum?

>> Yeah, I think just make sure the chain is really fast and whatever the builders are asking just do it ASAP. Joke aside, I I mean I think Lucas probably have a lot more details around this of you know I love Robbie the way you're using true defy to describe world. I'm going to steal that because the way I've always been using it is I think it's the most side for palm defy. It's really built from first principle, but it is true defy in every single sense. So, maybe Lucas if you can share with us like also I think maybe just a few words about your background as well.

You know, what inspired you to build this and then some of the work we've done together cuz we have done so much work for world in the of optimizing the chain. Every time I see that when I see Lucas my my hug is very tight. >> [laughter] >> Thank you. Thank you. Yes, so so I I actually have another term that I like to use. So, true defy I think that's a great one. We're going to start using that. I have started to refer to everything else as pretend fi. And I'm sick of it. Like I this you this like gluing defy to your name to get around regulators so that retail things that has for that you know, to trick PCs or whatever the Like that will come to an end. It just will.

And the what's going to require it to come to an end are apps that are you know, properly defy that are actually you know, useful. And to choose point. So, one question that I get um frequently on podcast and you know, and in sort of kind of side conversations is why don't you build an app chain? Oh my god, these app chain people. Like like it's just not very thorough thinking. And I think what happens is that in crypto you have sort of it's it's like weird game of like debate telephone where you have like one person debating this another person none of which have any experience kind of like making anything. And then that just

gets like you know, anyway. So, what I'm trying to say is that it's a false dichotomy. You don't have like the idea of like oh, it you know, per should be an app or perp should be on a general purpose chain. Like what we've done with Magie ETH um is Magie ETH is sort of demonstrating the kind of like uh the evolution of this very odd debate, which is that you can actually literally get the best of both worlds. You can engineer the chain so that it detects where messages are going to. So like when you talk to the Magie ETH RPC, it will detect that you're talking to World.

And it will then based on that uh route to logic which makes World faster, um like higher performance in pretty much every every capacity. Uh if you're doing something that's more like, you know, not talking to World, something general purpose, it can route to that, it can do different things. And there's an obviously sort of like baseline level of logic which you know, is like the true EVM and glues everything together. There is no trade-off. It is literally just better than like this kind of, you know, uh app versus general purpose uh debate.

>> And and so Luke, my my main question here is um when you're building something that's so complex, how can you where do you optimize? Like what is what is the next step here? What is your go-to-market? What are the the things that you're going for next because you have so many moving parts? What are you focusing on? >> Yeah, so what's really sexy to us and the reason we built it outside of some like I mean there there are a lot of reasons we built it, I'll write a paper on it, but like the uh it's it's gluing everything together.

So because you've never had a like proper DEX on the EVM order book fast, cheap. Um and you've never even had proper lending on the EVM because like this pool-based cross collateralization variable rate lending is not how anyone does anything in the real world and there is that we stopped doing that in the 1970s and there are a lot of reasons for that and most people who use these pools will be very aware of the disadvantages. So, we have a bunch of new things.

Where the magic happens is when they start to intersect. And that's where we're going to be focusing on. Um the relationship between things. So, for example, um you know, we listed YTRY recently. That is a uh Turkish money market that last year did 25% net returns in dollars. So, you can leverage up. That's a spot asset, not perps. And it's not supposed to be a perps asset. It should be a spot asset for obvious reasons. You can leverage that up and earn the leverage yield on world using that as collateral to even say take the levered basis trade. So, this is where it gets kind of kind of crazy but very interesting.

Let's say that you want to lever up on YTRY like 5x. Okay? So, if the net return is 20%, that's 100% return, which is obviously like pretty nuts. And it's it's a currency. So, like there's risk but it's also relatively stable. You can then, with that collateral balance, also do the levered basis trade, which is to say short ETH perps, buy ETH spot, uh and lever up that position, which also does in the range of like 20 to 50% depending on the kind of market conditions and you can do the trade in reverse and So, now you're literally like stacking yield with like two clicks.

And it's because we're doing a lot of very sophisticated engineering behind the hood um that allows you to sort of like do these things without taking a ton of risk. I can get in the I can describe this in more detail. That is a longer discussion, but you can see where this starts to get very interesting. >> Absolutely. Absolutely. I mean, it it it it already is very interesting because of the the composability and some of the capital efficiency benefits as a result. Um one thing that I I want to ask you before before we go, which is something that I think I'm going to ask all the apps today, is how you see world markets interacting with other apps on mega ETH?

>> Beautiful. >> You know, there's obviously a a lot happening internally, but when you're looking at some of the rest the rest of the app ecosystem, what kind of composability uh are you picturing there? >> Perfect. So, the the the missing link that I think is is very counterintuitive for folks, or at least they don't think about, is vaults. All right? You can package anything you do on world into an ERC-20. That's powerful. So, the obvious example or the simplest example of this is our lending vaults.

You can take a 7% lending vault, and you can stick it in Pendle, and split the variable rate versus like the fixed rate yield, right? And then you can take the Pendle tokens and lever those up on Aave or Morpho. Or you just take the 7% yield token, and you stick that and lever it up yourself, right? You can stick it into other things and use it as collateral. Now, let's say that you wanted to get more sophisticated, and you have some market neutral strategy, or you have some, you know, whatever uh maybe the strategy I just mentioned, levering up yTry that does this variable yield.

Again, vault. Now you have an ERC-20, stick it wherever you want, sell it in a spot in the spot market to get immediate liquidity. Right? You can start like that's how these things intersect. Um you have a market making strategy, you provide liquidity on world, but you also, you know, want to use it to raise capital. Um like what what Pendle does actually is it's just backwards securitization. Um Um, don't have time to explain like exactly, but um uh it's so you can actually use it to raise a fund and split the variable versus fixed rate returns and then use the capital to like run a a vault strategy, for example. Anyway, um there's a lot you can do.

>> Very very well said. Last question. >> Uh-huh. >> Yes, ma'am. >> Oh. What what drives you every day? >> Is this for me? >> Yeah. >> What drives me every day? >> Um I uh I'm not even um I love I love working on this. I just I just do. It's maybe a little autistic, but I like these kind of problems. And I I'm just a huge believer in like the I in DeFi and like everything that it represents around like self-sovereignty and like um basically in you know individual freedom for humans for like if we I'm a I'm also like a bit I I don't I think it's probably okay in these circles. I'm a big like Elon Musk fan.

I'm like a huge fanboy. It's embarrassing. If we go to Mars and build like and work and we're like you know evolving as a species we are not it will be DeFi. There is a 0% probability we use the current financial system or that we use some like you know, hybrid centralized version of it and call it DeFi, right? Like that that's basically it. There's so much that DeFi unlocks that nobody really understands because the tools have been so primitive historically. >> Well said. I I tend to agree. I share that that vision. If we are an interplanetary species, we're going to we're going to need cryptocurrency to send from here to Mars. We're not going to be sending

rockets full of gold. >> Is you think about it for more than 8 seconds, it's like in what universe like AI agents, right? Whatever it is. You think they're going to like talk to like the support chat and like or do you think they want to like call a function that's deterministic and like never changes? Right? It's just there's no world in which this doesn't happen. It's absurd to you know to to think that anything else is like like there will always be some like large and increasingly small track of like you know people who don't use very sophisticated tools and the tools themselves being like unsophisticated.

But the evolution favors you know the the market evolution favors DeFi. Oh, also the front end will be just so every so I can say this very publicly the front end will be open source uh as soon as possible which means like this month uh if we can get around to it. So anybody can copy our code and for the love of God somebody please copy our code and fork it and plug into it and customize it launch your own DEX plug in Pendle. Like I had so many ideas but they're just too complicated for us to do about like you know like I want to like someone should create like a trading desk which just like has like pre-packaged strategies like a better Wealthfront. You know you go to Wealthfront or like Robinhood or any of these like wealth management apps and they're like oh what do you

what do you like? Do you want to do like you like solar? You like green green green you know green energy? You like health care? I want the like make me more money button. Can you can somebody give me the button that makes me the most money? Like it's you know it that this is better. Please entrepreneurs out there take our code build better things. >> Claude make me a millionaire. Make no mistakes button. >> Yeah, right. >> Coming to World Markets soon. Lucas and thanks so much for for joining. I I can already picture having you on again and digging a bit deeper into all the mechanisms here uh when when you know we have a a proper sit down but today fantastic demo and uh very very excited to to use World

Markets uh on on Mega. Thanks for coming. >> Amazing. Thank you guys. >> We'll see you next time. Thanks Lucas. >> Thank you. >> Wow. Shu, where do you find these guys? >> Where do I find these? How do they find us? We >> [laughter] >> Um I just don't think you can build a chain that's faster than mega ETH. You have done the right architectural decision to make it sure that this thing's fast. Oh my god. Can I Can I call you your real name or should I call you your stage name?

>> Let's bring him up. Let's bring him up. No further ado, here he is, [laughter] Flux. >> Hey, hey. Uh Hi guys, how are you doing? >> Good. I didn't mean I Apparently you go by many names. What What should we call you? >> Your name is Dennis. My name is Dennis. Thanks [laughter] for having me on the show. Excited to be here guys. >> Very cool. Thanks for Thanks for coming. And uh you're coming at us from from Rocket. >> Yep. Yep. Yep. >> Awesome. >> Rocket up. >> Tell us a little bit about Rocket. >> Oh, yeah, yeah, yeah. It's been >> [clears throat] >> actually a hectic week. Preparation for the launch was the happens in new primitive. So, maybe before we go about that, I can just briefly tell about our team and our background, how we gather.

So, Yeah, so basically we have very technical team. We spent last four cycles in the space. We created a lot of tools for our personal usage and for the public. One of the notable projects was Genie XYZ. It was the first NFT aggregator, which allowed you to buy buy NFTs from multiple marketplaces like OpenSea, NFTX, LooksRare. So, And later on this company was acquired by Uniswap. We decided to left prior to that acquisition and we decided to rebuild the aggregation engine for NFT from scratch and do our own market making campaign for all the venues.

And basically what we did for several years, we were sending over a billion offers for for every NFT and like on every venue, offering people uh ability to sell their asset. And that's our background. So, it's a kind of high frequency trading for NFTs. But the market collapsed for NFTs and we started to explore different medium of circulation trying to envision how the future would look like 2 3 years from that moment. And one of the areas was prediction market because for us it was quite interesting that you can create a tradable of event of any uh

specific of any for for any market and make people trade of that. So, that's basically when we started exploring this space and eventually the first thing that we did was Telegram board for Polymarket trading. People were able to trade, buy and sell assets there. But we started to explore the traders behavior. We noticed that the way that people trade on those markets is very different from what we expected. So, basically every trader who want to like buy whether BTC is going to be above certain level or below, they had to go through a kind of clunky interface and select go through multiple check boxes like

whether it's going to be 77, 78 or 79 and then the liquidity across all those books were fragmented. So, you cannot actually fully express your opinion the way you do this on perpetual exchange. And this is the moment that when we started to work on the app trying to offer people something better, something where they can fully express their opinion on the future price action and that's that's basically the starting point that was the starting point for Rocket. So, what we did is that we started to explore what like how can we build the best interface for people who have opinion about the future price action. So, if you have ideas that the price for BTC or the

price or the odds for GG events will go up to 35 for the cents that we need to give you a way to express your opinion that we need to give an option for you to make money off that rather than just going through interface buyings and waitings and selling it back. And yeah, so basically that's how we started and we started to see that the fragmentation of the liquidity across all those different markets, it's kind of ruining the price discovery. So, the difference between like for example Polymarket where you have uh a lot of order books and they ruined after market is resolved and they have to be

reconstructed again. While on hyper liquid you have a continuous price discovery. So, you have a continuous it's the difference between perpetual futures and just like a regular futures. And we started to explore what we can bring to prediction markets that can have this motion of perpetual price movement and at the same time we have great liquidity support that. And uh basically that's when we that's when we started to build our our engine to power all those odds for every event for every case for for a price for rocket and as you see on my interface it's just

like a deposit flow. We allow people to deposit to app from any chain from you can deposit it basically from any chain or you can use a credit card. What you need to do is just to select the amount of money and deposit. Once you deposit your money, you see the interface which shows you basic chart. You see several assets there are is Solana hyper liquid. It's just a basic assets but we going to expand more into adding more real world events like of bull market. But to show you the example of how it works, so here on the interface on a 30-minute market instead of just going and selecting the checkbox whether the price will hit this level or

this, you can you can just select the area on a chart. You can expand it. You can predict where the price is heading and if the price hits this level or an area, you'll make money off that. So you can do this on any time frame. You can do this on 3 minute, on 3 days, or 1 week. Basically everywhere. You can go even on a very short time frames. We are not fully focused right now on the short time frames, but basically you you able to do that. And the beauty of that is that we using shared liquidity for every every market in in one single place. So for the takers and people who

want to participate, it's a great opportunity to provide liquidity in the app and basically make money off that. And for takers, they get in the best odds. So this is basically what we were focusing and working on and yeah, excited to share that. >> Very very cool. Um and so obviously you have built this very thoughtfully. Wow, when you zoom out like that, it's pretty it's pretty insane to see. And so I can choose a spot on the chart.

Okay wow. And so and so what it you know, we we heard from euphoria earlier which had a similar interface. It wasn't tap, but you know, it was similar. You could choose where. Now here what we have is some different weighted circles. I see like more yellow, less yellow. Um >> Yeah, yeah. That's it. >> What is happening here? Is it is it options, derivatives? How are you able to use this structure for for every asset, every market? >> Yeah, so the bigger the circles, the more the bigger the odds in this area. So, basically, yeah, so it represents that if you place here, the odds are way higher than if you place it

somewhere here on the 1-month duration. Uh and your second question was about how can we power uh liquidity for everything? So, it's just uh our experience with uh pricing models. Basically, when we did that for NFT evaluation, we know the price for every collection, and we able to measure like every asset in real time. And this is translated to a system which you can use, and you can set your own odds. So, it's not us who setting those odds. It can be you, it can be sure if they provide liquidity, and they select and set their own greed. So, let's say you are bullish on the market, and you believe that the price will go up. So, you can still provide liquidity in this

market, but your odds will be higher in this area and lower in that because you bullish on the market. You offering people to bet against you, and you basically taking the other side of this trade. So, the composable layer allows people to provide liquidity and set their own odds. So, you're not only able to buy from from this area, you also able to instead of uh so, you see here the odds. So, if you disagree that that this is uh the right odds, you can set your own. And then the taker would be able to buy through your uh policy and also through mine. So, it's just a layers of uh liquidity around behind every every

odds. So, when I buy something from here, I'm buying through multiple vaults, multiple policies which has different odds. But, the odds are based on the size that I'm willing to take. So, if I start to increase in the size, the odds will go lower. And this our exploration around what we can build around as well as as what we can build around permissionless prediction market. Because this is how we started. We were thinking about what kind of what kind of tool can be used by people who willing to create markets on everything.

And when we explore different markets that like were created back then, we noticed that every permissionless prediction was about the price action. Whether BTC will hit 78, whether it hit 76. And all those books were fragmented and we realized, well, it's not going to work because like if I'm willing to express my opinion and the price will be exactly in the area that I feel I need to get the best odds for that. And we need to have shared liquidity. And that's how we started to work on it. >> By the way, Robbie, this is actually also my first time seeing a rocket.

>> Wow, okay. >> We're really giving the role of the the the front row seats into our mafia. So, we a bit of a story, I guess, with with Flux was part of our mega mafia too cohort. So, dude is a chat. Just like he the level of understanding of market I've just not seen right. He cuz he worked on market aggregation before. And then um So, so when we met him last year in in in Copenhagen for our residence, he like the product was not looking like this.

And then dude just like went on hibernate. He raised a round from Was it electric? >> Yeah, it was electric, Tangent, Amber, J Square. A lot of great partners who's helping us on the way. >> Yeah, so he he raised a small round and just went back to building again. And then obviously I was busy with TG again and all of that. And then he's like, "Oh, I think we're probably like going to launch and be ready." I was like, "Oh, how about you demo it tomorrow?" We're talking about this yesterday. He's like, "Oh, I don't know. Like I'm supposed to go out next week." I was just like, "Dude, do it."

>> [laughter] >> Yeah, what you see here is just an early alpha version of that. We're going to ship a lot of features. Like I can I would only mention one. So, because we kind of trying to fit prediction market category, so our main priority was to how can we derive prediction of such scalar of such market scalar market. So, basically when you place your odds in certain area, you kind of like observe the liquidity from this side.

And based on the bets and the order flow, we can create a curve which shows where the price is heading. So, the more you bet here, the low the lower will be the odds. And the more you see like where the price is heading. And the beauty of that is that once you start betting in this area, the odds will go up in this area because as a market makers and the vault will try to hedge themself against your position. So, for participants it would be a very beneficial just to watch the chart and make make moves based on that because you can actually make money off a simple bet just because someone else want to hedge their position. So, this is this is one of the cool features that we bringing on. But also we leaning towards more social aspects. So, you going to

see a lot of So, first of all, we adding ability to see how other market participants behave. You would be able to copy trade them. You would be able to watch what they doing. So, the mental model that we have is that like the North Star is that you should be able to like so this can be also New York Knicks and you should be able to watch New York Knicks game in the real time and also bet on the odds of of this team winning. So you can bet on the first quarter, second quarter, like if you believe the Knicks going to lose in the second quarter, you should bet that their odds will be at 20 cents in the second quarter and that's what what we're feeling and that's what what we envision for the app.

>> Yeah. Yeah, I can see how this translates into prediction markets very clearly. Um and then I also love the idea how you're able to not just buy these positions, but you're also able to write options in a certain sense. You can be the the maker or the taker for any one of the slots on on this grid. >> Yeah, yeah, absolutely. I think that the natural price discovery can only happen in a healthy market where you create market where everyone can participate, everyone can provide liquidity and be on one or or another side of the trade.

That's that's why we feel that the composability of DeFi is is super important for us because at some point we believe that we can also export this liquidity for for other apps and and other primitives. >> And so we're we're asking this question to each of the the apps that demo here today. How are you interacting with some of the apps on on Mega? Um are you integrated with USDM as uh as the denomination currency here? How are you integrating some more things here on Mega?

>> Yeah, right now we uh have USDM on the testnet. So on the mainnet it's going to be the same. We prefer to use the native currency of Mega and for settlement it's kind of very very beneficial to use just a single currency. Going forward we might explore different option like for example uh bets in in the native asset. So if you're in BTC market and if you believe that market is going up, maybe you don't want to convert your BTC. Maybe you want to use your BTC and use it as a leverage to a position. So, we're exploring those opportunities as well, but for now it's mostly USDM. We also integrated previous, so you don't have to like see all those confirmation windows. You like

you don't have to worry about anything except actually predicting where the price will be on the chart and and and and telling us. So, just very simple and intuitive and I like that. We don't have to worry about the tech. We can just rely on Mega Ease and that's that's something I really like about the work. >> it? >> When can people play it? Oh, I think next week late next week we're going to do a big announcement about our campaign. >> Very cool. And where where should they go to learn more? Is what's the website and the Twitter?

>> Uh the website is use userocket.app and you can sign up for our wait list or you can DM me at the Rex Flux at X and I will give you an invite code. >> There you go. The Rollup audience gets the early invite. Again, guys, go DM olexflux_ on Twitter. Userocket.app. Very cool. Launching next week. Uh Flux, thank you so much for joining. Appreciate the the demo. It's very very cool to see. Obviously, very clear understanding of market structure here. I'm I am personally excited to use this and yeah, as you guys develop more prediction markets, I think it is only

going to get more and more compelling. So, thanks for joining us today, taking the time and showing us the app. >> Thanks for having me on. Really. Thanks, Tim. Bye. >> See you next time. >> Bye. >> Let's go, Sho. >> I don't know how you do this. This is like >> [laughter] >> This This like a lot of hours, really. >> I I was going to ask actually, you know, do were a late late addition to the lineup. If you need to go at any time, feel free, but it it's a it's a pleasure to have you stay. >> Yeah, I might have to to to yeah, I might have to hop I >> [laughter] >> Okay.

>> But this was really fun >> Yeah. Um okay, Shu, before you go, just give us some closing your closing thoughts. Obviously, we're I think we're only halfway through the the apps today. Uh so, we've got a lot more to go. Thank you for your for uh you know, joining us uh for the first half of Mega App Day. Closing thoughts, what what uh what what wisdom can you leave us here with? >> There's no wisdoms, only lesson. The lesson learned is if you believe in something, you have to keep pursuing it. The entire world is against you.

And if you believe that crypto apps deserve to exist, and everyone else will use some sort of crypto apps, just go for it. And you know, like as your fellow weatherwoman co-host, I think you know, sometimes we get I thought the actually, I thought the weather would clear up, but it hasn't. >> It's still a bit foggy. Maybe by the end of you know, by the time we get through all of our mega apps demos, you know, we'll have the full composability, the full picture. That's when we'll we'll we'll see the sun again. >> So, yes, yes.

Uh thank you so much for having me, but I yeah, really have to hop for other things. >> Understood, Shu. Thank you so much. It was great meeting you. Um and uh congratulations again on on mainnet and TG. >> Bye. >> Shout out to Shu Yao. Great to see the the queen of Mega Ether herself. And uh so nice, so friendly, just a absolutely a uh a great person. Uh we are going to reset the stage here.

We've got Andy from Monster coming up in just a moment. I think we are all good to go and he's going to be showing us what he has going on at Monster. We're just getting the screen set up. We had a let our lovely co-host go. She's got very important things going on. I don't think you know, sometimes we have these mainnet launches just I'll I'll just rant a little bit pontificate here as we set up the the the frame. You know, sometimes we have these mainnet launches. We have founders they come on they come on for mainnet or they come on for TGE.

You know, they join us for a 30-minute session maybe 45 minutes. Shuyau was here for a good 2 hours. You know, taking the time out of her busy schedule following mainnet following TGE and describing the entire chain to us helping us understand some of these applications getting into the KPIs getting into the fluffels getting into the USDM deployment strategy all of the TVL all of the incentives very very cool to see. You were able to get into her head and understand how she's thinking about mega post TGE and post mainnet which is very very cool.

Guys founder psychology is a big big part of this. You know, we we we always hear what it's like as these teams are leading up to mainnet and often times that coincides with TGE. It is a grind. And so the fact that Shuyau wasn't falling asleep here is a win in and of itself because it is some sleepless nights leading into a token launch and a launch of any kind. I think we're ready. We've got Andy ready in the back. And so why don't we go ahead and bring him up. He's going to be showing us Monster strategy.

Let's go ahead. We're going to catch them all and we're going to be talking real-time gaming on Mega Eth with Andy from Monster. There he is. Welcome to the show Andy. >> Hey, thanks for having me. It's a shame that I had to scare away your co-host, but >> Yeah. >> [laughter] >> I think I think our co-host might have might have needed a nap. Uh like I she she's been uh she's been working hard over the last few weeks, last couple years that it's taken to uh to launch this thing. And um you know, she she was with us for for quite a while today. But we are here continuing our run through the apps on Mega App Day. And so we appreciate you joining us and uh I'm very excited to hear about Monster Strategy.

>> Yeah, thanks for having me. Look forward to it. >> Absolutely. So we've got um we've got your screen up here. Looks like some trading card packs, trading cards. I have a friend who does trading cards. He didn't catch the crypto bug like the rest of us. He he's gotten into the sports cards and I think maybe some Pokémon cards, too. And I've heard they've been on an absolute tear. Trading cards have gone parabolic. Um tell us a little bit about what Monster Strategy is and and what we see up here on the screen. >> Yeah, for sure. And yeah, the the trading card market has been pretty nuts for for a while. Um but yeah, so Monster Strategy and uh kind of what we've been building is our own

iteration on the trading card world and kind of what that looks like uh and bringing it on chain. Um for context, my co-founder Nate and I have worked together for a very long time in the crypto world. Uh we previously had an NFT startup called Fractional back in 2021 and did that for a long time and uh have now transitioned to a different sort of collectible. Um but so Monster uh we have these claw machines or we call them gotchas, packs, different people call them different things. Uh and inside of these we have uh a bunch of graded Pokémon cards. And we have other trading card um uh games coming very soon like One Piece and uh sports cards and things like

that. Um in each of these packs they have uh a fixed price that you pay to play and uh there's you can then look and see and there's a bunch of cards here available. There's like hundreds of cards that you could potentially win and so uh you pay 50 bucks and you get a random card and I I can go through and show us a play through to you in a second here. >> Let's do it. These are real physical Pokémon stored in a vault somewhere. Yeah. >> Yeah. >> Yeah. >> Yeah, so there are there are a couple different uh vaulting partners that we use. Uh they're kind of just are like industry standard. Uh some are tied to auction houses, some are uh grading companies.

Um and so it's nice because they kind of manage all of the like shipping everything and also just like making sure that, you know, the cards don't all burn up in a fire or something. >> Yeah. Yeah, maybe some insurance on that. And so yeah, would would love to see um yeah, let's We got a claw machine and and so what are I see three options here, maybe three different collections? >> So these Yeah, so these all basically go by by price point. And so the cheapest one is 50 bucks. Uh we're working to get a cheaper one as well, but it can be a bit challenging with graded cards. Um and it costs like 20 bucks to get a Pokémon card graded. And so you don't really see very many graded cards that are worth less than $20 and if you do they're really not very good. Um

and so it kind of creates some challenges getting cheaper than that. Um but so we have a 20 a $50 a $250 and a $1250 if you want to really uh play with the big boys. Um and so yeah, and what one of the things that we offer and uh a lot of the like great platforms that kind of work in this industry offer is uh you know, the average value of the card that you pull is actually higher than the price that you paid to enter. Um which I think is a really interesting kind of uh kind of twist where if you just want to collect cards and you don't really care what you get and you're open to, you know, spending more than 50 bucks, uh over time you'll end up with more money than you spent in cards, um which I think is really cool. Um

and then kind of the the way that we're able to offer that is one, uh we're able to source cards for cheaper than what their fair market value is. And then at the same time, if you get a card and you don't like it, you can sell it back uh at 85%. So, we'll basically buy back any cards that you don't like. And so, we can >> How How are you able to source cards uh cheaper than Or it looks like it looks like we just got a card. >> Yeah, so I just So, yeah, I just bought one here. Yeah. Um so, this is basically about as bad as you can do um to give context. Um but so, you can see we pulled a a Venusaur card that and so, if you can go and see the grading company and if you click uh I

think this would mess up my screen share if I clicked to it, but you could go and like read about the grading and all of that. Uh and so, with the card is worth, you know, if I do some rough math, 31 or 32 dollars. And so, if I want to keep it, I can add it to my vault or I can sell it back. I'll keep this one for now to show you something else later. Um but as far as sourcing cards, um one, you can go to shows, go to like trading card shows and be a vendor or be a buyer. Um the the market is very interesting and I've learned a lot over the last year working on this. Um as far as the average person, if you want to sell your cards, like say you had a $100,000 Pokémon card collection that you built

up over time, if you go to any of the major online places to sell those cards, you're really only going to get 80 to 85% of the value of those cards um because of fees on these platforms, basically. So, like eBay charges like a 13% fee. Some of the other like bigger auction houses charge up to like a 25% fee, even. Um and so, if you go and buy in person or, you know, just find people who are looking to sell, you can actually often get a pretty good deal if you're kind of coming to offer them larger size to exit positions and things like that.

Um And so, that's that's the main way at this point. >> And for all of the cards that are here across the the three different, uh, you know, categories of value, what is the total sum value of the cards that you have on the platform? >> Yeah, currently it's around and and this really varies. Uh, it's around around Now, it's around like $400,000 worth of cards. Um the, you know, the kind of the caveat being this is a great problem to have, but a problem is, uh, users actually really do like to use the platform to collect cards. And so, we in the last 3 days have had like over 300 cards held by users. So, I've just been like scrambling trying to buy cards, trying

to like talk to different vendors. Yeah. Um And so, like right now, our inventory's on the lower side. We've We've had times where kind of the total collection was up in closer to like the $600,000 range, but we need to, you know, we're working very hard to get these numbers up kind of as fast as possible to really scale to more offerings and different varieties of cards and stuff. >> And And is the format more of a marketplace in the sense that other people can list their cards as well, or is entirely you and the company that is going out buying inventory, sourcing it?

There's not an ability to like if I had a a card that I found in my closet, you know, and and I was like, "Oh, I don't know where to sell it. I'm not, you know, I just happened upon this card." I could list it, or or that's not a feature. >> Uh, so, not currently. I you know, the basically the challenge that's there and that's with a lot of these kind of, uh, like RWA collectibles platforms is you need to then like authenticate that this is that you actually do own this card and that it's real. And so something that we're experimenting with is basically partnering with other trusted vendors who also have large supplies of cards to where they could then also have inventory on our site where, you know, we basically like work out a legal agreement of you can't rug our users

and, you know, sell them cards that you don't have and all of that. Long term we would like to get to a place where you can come and basically send us cards and we will vault them for you and you'll get them on the platform and and all of that. Just operationally that adds a massive amount of overhead. And generally what we've seen is people typically are buying cards on the site and then maybe trading with other people or selling them back. And so like one thing that we try to we've been offering for a while that we think is really nice is like once you do buy a card and we offer you this buyback we actually offer the buyback in perpetuity. And so basically we will forever track the fair market value of this card and we will basically whenever

you want to sell it you can sell it to us at 85%. So the idea is that you could use the site and build up a collection and build up a portfolio and keep it here as long as you want and know that you'll have liquidity in the future if you do want to sell. Or you can always redeem them and get them shipped to your house. >> Okay, so there's also the ability to essentially like take physical delivery of what I what I earn on the platform. >> Yeah, I was just at the post office today sending out some cards. >> Oh my goodness. I can see you getting really busy as this thing scales up trying to source inventory, trying to send out cards, software development, engineering.

>> Yeah, we're we're only a two-person team as well. So, you know, AI has really helped us out as we do this. But yeah, it's it's definitely something where, you know, I have a lot of respect for some of the bigger players in this space who are doing, you know, a hundred times the inventory that we are currently. Like it's it's an operation. >> Wow, that's this is nuts. I've you know, I've just been somewhat on the surface of this industry. So, I haven't you know, really experimented too much here. You know, are there things that people should know like they you know, I think it people are going to want to try out this app. What should they know about the card trading game in general so that they they approach it uh maybe they you know, how they can understand a

good card from a bad card. >> Yeah, I mean I so I come personally uh Pokémon was like my first love as a kid and which is also it's fun. This is like kind of a passion project for me in a lot of ways like I remember I was 4 years old and I got a Pokémon video game. My dad had to like read to me how to play it as I was like sitting on the couch playing uh and so I think you know, for a lot of people what I would really recommend is to try to be smart about it and you know, have a good investment perspective, but at the same time like I think you should buy stuff that you like. You should like I think you should buy cards that you think look nice or that you think are interesting or have

an interesting narrative um because for most people otherwise you're probably not going to outperform the market trying to like pick the right cards or things. And so then otherwise you probably are better off just like buy some old Charizards and let or buy some old Pikachus some of the most famous Pokémon and let them sit for a long time. Um but it's very interesting that the market's kind it it's pretty insane right now. Um both in just demand most packs are like selling out like crazy uh and also the prices have gone nuts for a lot of cards. I mean, there's cards that we bought back in October, let's say when we were kind of like first building out our inventory that have like 10x since we purchased them.

>> Wow. >> Um which is crazy. Um And so that and so I think too having a bit of a longer-term mindset is probably pretty important at a time like this just like you know, if you've been around in markets for long enough when you have a bunch of good stuff going 10x in half a year, like as someone who's been through the NFT cycle, it's kind of like, "Whoa, I don't I don't know. This is It's funny to say that as someone who's running a trading card platform, but just like realistically, something to be aware of." Um but I think having a long-term perspective and like understanding kind of why trading cards are doing well and kind of the I think there's this really interesting kind of merge of nostalgia and kind of alternative asset classes that are really kind of blowing up in general as

just an alternative to the stock market and things like that. I think there's just like a really nice combination of of like tailwinds coming together for trading cards um that we haven't really seen before. >> Wow, very cool. And And so, the market structure, you know, has to be pretty efficient in order for you to always have liquidity for an 85% offer. You know, and you also mentioned that that you're tracking these things in real time. What is the liquidity profile like for some of these cards? Are Are they actively being um you know, traded back and forth? And I guess it must be It must be like there's multiple different iterations of of the same card in the sense that you've got a

lot of different Charizards out there, right? And so, you can kind of get to a median price of like a typical Charizard, and then one that has a higher grade and better shape is going to be on the on the upper side, and then one that's in worse shape is going to be kind of on the lower side, but is that kind of what you see? You have a bunch of different venues out there. You have these, you know, different grades all flowing through these venues, and you can kind of build a range of what that typical one looks like. >> Yeah, that's generally pretty accurate. So, typically, you have a given card, and then you have its grade. The kind of one confusing bit is there are multiple different graders, and the market actually prices different graders differently.

>> Okay. >> So, so a nine out of 10 grade for each different grading company >> Yeah. Yeah. >> Yeah. And so PSA is kind of like the king as far as liquidity and grade goes. >> grader? >> They are. Yeah. General So, there are some smaller ones who are maybe tougher, but as far as like there's kind of like a big three that are PSA, Beckett, and CGC. Those are kind of the the big three companies. And so a PSA nine is typically a stronger card than a CGC or a Beckett nine. Um and >> like you know they they talk about girls like oh, she's an Oklahoma City four, but she's like a Miami you know I guess that would be the other way

around. But you yeah yeah. So, okay. So, you got Beckett, CGC, and and PSA. >> Yeah. And so there are several pretty big auction houses that do pretty sizable volume. And so they they offer a lot of kind of like the indices of tracking the values of these cards. And so obviously some cards are really rare to where you know like I bought some cards yesterday that haven't been transacted in months. And you kind of just have to be like I don't know. I think it's worth this much. We're we're going to see.

>> Okay. >> Uh but there's other cards where you really can have a a very good understanding of the market. Um especially some of the newer cards that have gained a lot of popularity. And I think that's one thing that's interesting as well as you kind of have these different eras of Pokémon where there are like vintage cards that were all minted like created between like 1996 and 2000, 2001. Um and so those cards typically have kind of lower people call them populations. Like lower just numbers of graded cards at the high end. And so it can sometimes be harder to price those. Whereas a lot of the newer popular cards, they tend to like for example one of the most popular ones that's new is I I say new it's like 10 years old, is like a Mario

collab where Pikachu is dressed up as Mario from from Super Mario. And so like that card actually has more population than some of these other ones, but it's really desirable. It's kind of easier to track because there's just like more out there in the world. That and and at that point in time people were much more seriously considering this kind of like an asset class. And so they were taking better care of their cards, they were getting them graded, they were doing all this stuff. Whereas like you know, you look at cards from 1999 and it's just there's a bunch sitting in like someone's basement somewhere. >> Yeah. Yeah. Yeah, absolutely. And so it's interesting to hear you say that scarcity isn't always the most desirable. There's multiple qualities here. You know, there there might be some

you know, player that only has one card out there, but he's a no-name player, whereas you got Pikachu with you know, dressed up as Mario. It's a very like quirky thing and there might be multiple iterations or or a larger population, but there's also more demand. And so that that also begs for a higher price. >> Yeah, and so there's a particular card there's a there was a Vincent Van Gogh collaboration where it's like Pikachu Pikachu kind of dressed like Vincent Van Gogh and of that sort of um like we actually have one. I can pull it up. Let me see if I can find it on >> What's the most valuable card you guys have?

>> We have a card that's worth like 50 grand. Uh >> Woah. And so someone could win that. You would have no control. Like someone someone would pay probably for the upper claw machine 1250. They would put in 1250 and they could potentially walk away with a $50,000 card. >> So we actually had someone win this card once. We were like three days into our launch and we didn't have that much money cuz we we bootstrapped our company as well. And someone hit it and I was like, oh no.

>> [laughter] >> That's not good. It worked out. They ended up selling it back to us. At the time I think we had it valued at like $36,000 or something like that. >> Okay. >> Um >> Okay. >> But so this is the the Vincent Van Gogh Pikachu. Let me see if I can get it a little bit bigger. >> Yeah. >> I see it. Yep. Yep. >> Um And so like this card actually has an incredibly high population. There's like so many so that I don't know if this is still true, but it had actually surpassed the whatever the most famous Michael Jordan card was to be the highest market cap card of any trading card.

>> Woah. >> And so I'm not sure if that's still true currently. This was maybe about a month ago. Um but it hasn't really slowed down. So I think it probably is. So this is like as far as market cap goes, the most valuable trading card that exists. >> So the Jordan the Jordan card was probably a higher price per card, but had a much lower population. And then this one, you know, 1,700 bucks nothing to scoff at, but it's also got set like a large population multiplied by 1,700 bucks per card is going to lead to a really high market cap. >> And it's extremely liquid. Like if you want to sell one of these, you can sell it for very close to the fair market price very fast. And so I And so people kind of care about that as well.

>> Yeah. And so are you are you manually aggregating your own pricing sources? Or you you have, you know, some agent or software, you know, that's that's helping you keep track of all of these things across different venues? >> So we use There's an application called CardLadder that is kind of just like a well-known app for like tracking your collections and valuing cards. And so they they source auctions and eBay sales and all of that kind of stuff. And then they, you know, whatever proprietary software they use to price stuff in the back end. But I would say that's something that has been kind of eye-opening to me is in building in this space, there is just a massive gap in the tech that

people need. And I I think there's a lot of just like open space for companies like Monster and others building building in the trading card world to kind of expand beyond consumer applications to more like B2B and things like that because we end up having to build a lot of stuff ourself. Uh there are just aren't is not it's hard to get good pricing. It's hard to get good data and information and so that's something that we're there's still a really big gap in the market. >> that happens in a lot of these startups. You know, you build something that you need for your own business, but it ends up, you know, multiple other businesses need a very similar tool and then, you know, you can spin it out. You can go sell it on its own. Um Andy, this has been fascinating. I you know, we have a

lot of, you know, digital asset and crypto RWA conversations, but it's really fun to go into another domain and get a sense of how you're leveraging some of these similar tools just like, you know, what we had just talked about. So, thank you for for kind of explaining the trading card industry, um you know, and and walking us through Monster. Be- before we let you go, uh tell people uh when you're going live if you you're already live. Yeah, like >> Yeah, we're So, we've been live for a while. Um and we basically migrated to Mega Eth um like the beginning of this week and it's been great. We've had several million dollars of volume, people playing through the app and it's been great so far, lots of cards redeemed. Um but

yeah, and so you can find us our Twitter handle is just MNSTR. Uh just Monster with no vowels and our website is mnstr.xyz. Uh and so you can find us on either of those and my Twitter is Andy A052. I tweet about basically trading cards all the time. >> Love it. Very cool, man. Uh well, congrats on on the successful uh you know, going live and um and the success so far and uh welcome to Mega Eth. >> Thank you. And thank you again for having me. This was fun. >> Absolutely. Thanks for coming on. See you next time. Thanks, Andy.

>> Bye. >> All right, guys. Show continues to roll on. Hope you guys enjoyed the uh the trading card landscape. I personally I I I like to learn about all of these new uh these new domains. It's very cool to see. And um I've like I said at the top of that segment, I've heard that the trading card world has been on a parabolic rise as of late. Um and it's cool, you know, they're using probably fair things. They migrated to Mega ETH. They've got upwards of a million bucks in trading cards on their platform. And uh people can do very, very well uh by, you know, leveraging their claw machine. You can have some fun. You can learn about this.

And he said that the average value of card is higher than what people typically spend on these claw machines. Uh which I think uh is ultimately going to make this uh a rather sticky user base for uh for their app. Wish them best of luck. Uh shout out to Andy from Monster. Next up, uh we've got the co-founder of Bricks, uh Adam Burke, who is going to be joining us. We're going to be talking real-time effects. No screen share here. So uh Adam Burke uh and I will have a quick conversation about effects and uh their launch on Mega ETH.

Let's bring him up. There he is. Adam Burke, welcome to the show. >> Hello. Hello. >> Um yeah, man. Well, we've been ripping through the Mega ETH ecosystem. Uh I think we've spoken to about five or six applications now. Uh Mega ETH went live yesterday, mainnet launch, TGE. And uh you guys are building on Mega ETH. Would love to hear a little bit about yourself and a little bit about Bricks. >> Yeah, nice to meet you, Robbie. Um yeah, so basically, I've been in this space since uh before the DeFi summer. And the main reason that I got in was that all of the fantasies I I about

economic development in developing countries. I was like, you know, 30 years in bureaucracies or McKinsey's. Probably by the time you get to implement your ideas, your soul has already been, you know, turning to gray concrete. And blockchain was to me a a play a way to have a claim on the future of where the economic systems evolve. And if you are able to design those rails and design those systems, then you have space of uh putting the ideas that you want to see.

And with that realization, we just basically went all in and a funny story is uh when I began this journey, the one of the first people that I onboarded was Namuk, who is uh you might know. >> Yeah. >> Uh the co-founder of Mega ETH. >> Yes. And uh we even had our uh warehouse uh San Francisco moment in New York with with an apartment of like four people who were just uh going all in crypto back in the days and we were just focused on building. And I've been basically building uh tokenization systems um protocols around the space.

And basically uh we started the putting the seeds of bricks uh almost like 2 years ago when we were building enterprise solutions uh using blockchain and smart contracts for different institutions around the world. And we saw that, you know, that the the tokenization was going to define how new assets are brought into market as well as who can who can access around the world and how they can be utilized. Uh one of the defining features of the RWA tokenization space is that most of the space we talk about is, you know, US denominated assets, uh treasury US treasury bills, American stocks.

Uh but the world is much bigger than that. And um developing countries are a very promising high growth potential places that's also what we like to see in DeFi, right? High yield, high risk, high return. And we basically realized that this is a big problem space that will need to be solved because these assets will also have a space in this new global capital markets or whatever the new meta calls that. >> Yeah.

>> Um And we basically took it on ourselves to solve the infra problems that will allow us to bring these assets on chain. And that's how we started bricks and that's how we also rolled out our first product. >> Very cool. Very cool. And so you guys are an RWA tokenization protocol. I take it you're probably focused on Forex. I've also seen a lot of uh uh more traction in non-US dollar denominated stablecoins. So tell us a little bit about how you see Forex and and you know what this first product is and then ultimately why you guys

chose mega ETH. >> Yes, we are mainly interested in the meeting of global investors with the Forex products. So you know Forex when you say Forex you know it's settlement, B2B payments, but also the trade itself that comes with both the you know Forex exchange but also the underlying yield of these Forex assets. And basically the the Forex assets are for for us the first gateway into bringing the emerging market assets because they are the most liquid counterparts and also when you build a settlement infrastructure around that Forex asset you can easily expand that into different asset classes such as stocks,

such as different hedging products that would power future perps for these stocks. Um and basically the one of the interesting aspects of the emerging markets is this carry trade which is basically a trade on the forex yield uh against dollar and trading on the yield versus the depreciation. And it is actually uh the numbers are crazy, you know, like I remember when Athena and we were, you know, farming that 40% APY it was it was great until billions of people decided to enter that train and I looked the yield.

But um when we say carry trade it's like more than 100 billion dollars trades that's happening. So, when we talk about size this also like real world size. And um it is it is a way for basically entering into a high risk high return trade that brings upwards of 20% 30% dollars on some scenarios. Um so we we thought that, you know, um that that can be the first interesting product for the crypto markets where um more and more USD stable coin or capital is sitting on chain and they are looking for more and more yield sources. And when the markets are looking hopeless

the all the yield sources deplete uh because you cannot farm different like governance tokens and so on. Um so uh these forex yield assets we believe can offer a new path for people to um you know, try to uh earn from the yield. Of course, it's a new trade that will also require people to get familiar with the concepts of it. Um but I think in general uh the demographics we are very good at um monitoring the situation when it comes to microtrends. And also, uh, it would be good to have the ability to jump on that trend and have a trade.

And uh, be able to trade the macro. >> Say, you know, the basis trade here for different foreign exchange currencies. The idea is that, um, you know, each country is going to have, or each country with their own currency, is going to have some sort of native yield in the form of their treasury, right? So, sovereign debt. In this case, for the dollar, it's, you know, 3.7, you know, I think maybe 4.4% for 10-year. Different durations have different have different, you know, interest rates. And so, we're essentially, um, how does how does the trade work, uh, in general? You're you're buying, uh the uh, bond and you're shorting the

currency? >> Yeah, so, um, there's a big difference with the basis trade where most of the basis trade that you've seen is more like delta neutral hedged. Uh, just arbitraging different markets. Um, carry trade is a bit different. Carry trade is more, um, trading the, uh, return from an interest rate, um, and uh, depreciation of the current against depreciation of the currency against the dollar. So, uh, for example, the first product that we launched is ITRY, uh, which is basically a Turkish lira pegged stablecoin that is 100% backed by, um, Turkish lira money market funds. And these Turkish lira money market funds, um, they generate daily returns and these are like T+0,

um, settlement. So, you can enter and exit in a day. And they mainly track the central bank interest rates, which are, um, paying around 40 to 45% APY. >> [snorts] >> And the trade that you're entering is that the yield that you're earning from that ITRY is going to be more than the, uh, dollar depreciation of Turkish lira. And for the past year, for example, this this state has brought around 20 to 25% net returns in dollar. And it doesn't, you know, go down with the more size that you enter. It is dictated by the Central Bank policy rates.

>> What is the the Central Bank policy rate right now in Turkey? >> It's around 40%. >> 40%? >> Yeah. >> Wow. How are they able to I mean, man, that is just that's [snorts] that's nuts. And so, when you have bonds from the Central Bank at 40%, you're obviously getting a lot of that yield, but it's it's inflating the currency. The currency's depreciating. So, you're saying that there's more yield than depreciation, and that's the spread that you're able to capture. And you can do this across not just the Turkish lira, but you can do that across several currencies.

>> Yeah. Yeah. And I mean, HSBC, for example, they publish or even that work, I think they they publish every year, you know, top five carry trades of the world. And what is essentially the difference against, let's say, Argentinian real, where, you know, you know that the inflation is going to eat away all depreciation, um is that this is the, you know, fun part about trading the macro, right? So, doesn't the Central Bank of Turkey, for example, they are main- maintaining active policy of basically controlling the depreciation rate of Turkish lira against dollar, and they have many many instruments apart from just interest rate. And the interest

rate is also used for people to save their lira and keep it, right? So, they are basically playing a macro strategy where their goal is to make sure that the depreciation of the dollar against Turkish lira is lower than the Turkish lira interest rate that they pay so that first of all Turkish people they keep their Turkish lira in the Turkish lira and foreign investors bring hot money that would basically create more liquidity for the strategy that they are pursuing. So these rates are not like permanent trades but they create tremendous opportunities

when you're able to access that. >> Wow. And so my last question here is you know why why does this need to be on chain? What and and and why mega ETH? >> Why does this need to be on chain? It's because if you were to try to enter into this trade right now this would probably take you a year and probably you don't you wouldn't have access to the brokerage account that gets you that access to that product because you are not you know 10% of the financial financial players.

>> Right. >> The one of the biggest benefits of having it on chain is that it's basically makes this trade makes this asset accessible to whole world and it drastically removes barriers of access barriers of entry. The second component is that then you can also build interesting markets on top of this. Um you know like you can use Morpho to leverage loop rate. >> Yeah. >> You can use this collateral across different places and one of the things that I really love about this space is that you know especially with AI agents now we will see probably a lot of creative financial markets also popping

up and I believe that the assets next generation version will be tokenized. So these assets will need to come on chain but also they the advantage of that they give in terms of accessibility is unmatched by any of the trade fire rails. Um when when it comes to MegaX, I also wrote a little piece about that actually, like why why we chose MegaX. Um there is two reasons. First, um you know, they say Rome wasn't built in a day.

>> Yeah. >> So, it takes a it takes a you know, MegaX is getting a lot of heat uh in its you know, early days, but it actually takes um dedication as well as an imperial mindset to be able to build an ecosystem for the future you believe in, where the blockchain will go. And I've known the core MegaX team for many many years ever since that I entered the space, and it's just that uh the team is also very important in being able to carry forward and incubate an ecosystem to uh basically have a play in where the blockchain will have a space in the future.

>> Yeah. >> Secondly, one of the biggest um challenges that non-USD assets face uh when you want to bring an asset to the market is that they are uh local fiat denominated, right? So, they are like volatile effects assets, stocks as well. Um so, being able to reach real-time settlement as much as possible creates uh tremendous advantages. And um I believe that MegaX uh real-time uh transaction capability and settlement capability will be a big factor in being able to uh settle um assets that allow you to instantly mint and also redeem um against um you know,

all the trade fire rails because when we talk about tokenization, you know, issuing the token is just one layer, then you need to convert that USD stablecoin into local assets, that local asset into the you know, that local fiat into local asset. It has many, many, um, settlement components that need to work uh, well, and the more you can get that settlement duration to instantly, >> Right. >> the more robust, um, infrastructure that you are providing for these assets to come on chain.

>> Yeah, you know, and I think that's why a lot of these, uh, institutional firms, a lot of, uh, you know, these these institutional asset issuers are now looking at 24/7. They're looking at instant settlement. You know, you have equity issuers that are now starting to come on chain because they realize that, you know, there's a lot of idle capital when you have things T+1, T+2, but you increase the settlement, uh, uh, and make it a lot more capital efficient, and unlocks a lot of value. Um, so it makes a lot of sense. Uh, at a brick, I I I think, uh, you know, this is a strategy that we'll continue to see. I appreciate you coming on, uh, telling us a little bit about the basis trade, and, um, and and a bit more about bricks. And so, where can people, uh, go

right now? Where can they learn more? Are you guys live right now where they can start to take this strategy? >> Yes, yes, we are live. And just a little, uh, small clarification, uh, it's carry trade, uh, not basis trade, and that's like a very big component, so I just want to, uh, kindly correct that. >> Carry trade, yes. Thank you. >> Uh, so we, uh, have our yield-bearing ITA version of token we try that's already live on world markets on MegaEth. And we are about to release our platform where, uh, lots more, uh, different interactions that people can do with this asset will be live. That will also, um, showcase their actual trade performance, as well as, um, just improved UX, but people can already, uh,

go and, uh, buy we try on W CM and enter care trade. >> There we go. The carry trade brought to you by bricks. Adaburg, thank you so much for joining man. Really appreciate you taking the time and congrats on joining mega ETH for for the launch. >> Thanks. >> We'll see you next time. Thank you man. >> Ciao. >> All right guys, we are on the home stretch here. Wow, what a day. Incredible mega app day here on the roll up. Uh big shout out. They've been been coming on and just absolutely rocking and rolling.

Um I think see here. Looking at the schedule, we've got just one or two more guests that are going to be joining us. Uh we've got our next guest that is going to be coming on in just a moment. We've got Henry who's going to be coming in uh and telling us about hit one, which is an app that we've actually heard a little bit about over some of the other the other demos. I think people are very excited for hit one uh and Henry's going to be up. Let's get him up. There he is. He's behind the scenes.

Henry, welcome to the show man. >> Hey, thank you. Thank you for having me. Happy to be here. >> Absolutely. Uh I think hit one is going to be an instant classic. We had a couple of uh first we had Shu Yao uh of mega ETH joining us. Um and then we've heard a couple others uh talking about uh talking about hit one on uh on the show today. So I think people are very excited for what you guys have and I see you've got uh a terminal trading terminal uh by the here on the screen. So uh why don't you tell us a little bit about hit and uh a little bit about what what we what we're looking at?

>> Yeah, I appreciate that and always love everybody in the mega family. Uh so what you're looking at right here, we are calling this category we're creating pretty much arcade finance. And what that is is taking these financial products like a derivative, an option, a prediction market, whatever it is, and turning it into a super digestible, repeatable, fun way to essentially experience it. And that's what we've done with our first game, appropriately titled 1000x. So, what you're looking at here, it might be familiar if you've ever walked into a casino before and seen a slot machine, that's exactly what it is. Except this slot machine is going to deal you a blind high-leverage trade between 500

and 1000x leverage. Uh so, I'll show a little demo here. All a user is going to need to know is how much do I want to trade with. That is literally it. They're going to slide the the trade amount to wherever they want, then they're going to try and open a trade. Right now, asset, leverage, and direction is essentially being dealt at random or is being dealt at random. And once it locks in, your trade opens. So, right now, I don't know what my trade is. I do not know direction, asset, or leverage, and the user does not find that out until they're either liquidated or they close the trade. You can hold this as long as you want. This is a real perp trade that is being executed on world markets, also on Mega ETH.

>> Yes. >> So, we're not the house in that sense. We do not profit on user loss. We want as many of our users to win as possible. So, while a trade is open, you can either double down or sell 50% or close the entire thing. The other things you can do, you can click on any user that has a current trade open, and you can essentially create your own arena with either you or friends of their P&L charts. So, right now, I don't can't see the usernames of who I clicked, but these are all real trades live on hit right now, and we We have a a global chat as well.

When you're done and you want to close, simply just click close, trade will execute, and now I realized, okay, I was long Bitcoin at 540 times leverage. And that's that's really where we are right now. It's one position per person. We do have the ability for multiple positions coming soon, so you can just sit there and spam them out. So again, we took extremely high leverage, which is this dangerous financial product almost, and really repackaged it into something that's super easy to digest. We sometimes say it's effortless access to extreme risk, and that's truly what we're building. So this is just game one. We have a lot more to come for this game, but we do

have more games coming. It will be this suite of games that give you a similar experience, but everything is built on top of real markets. Everything is non-deterministic. We have no control over whether users win or lose, and yeah, that's that's it. >> How did you last so long with 540x leverage? I would have thought that, you know, maybe we just we're just in a low volatility environment the last few minutes, but 540 I've seen people on a 100x leverage get liquidated in 2 seconds. How did you last almost, you know, a minute or two here?

>> It honestly varies. I've had some where I'm gone right away. I've had some where I open and I'm up like two or three X right away. You know, we've honestly seen the longer you can stay open, like exponentially the amount that you end up profiting obviously. You're at you're at high leverage, but yeah, it's it's a variation. Our average hold or trade time's probably around 4 and 1/2 5 minutes right now, so it's actually longer than you think, and total win rate is somewhere 43 44%. Um so users are winning more than people think, and yeah, positions do stay alive. It's super fun.

>> Can we get a can we get another one going while while we talk about this? >> Of course. >> And and so you probably set Okay, we're in profit. Oh, there it went. >> I know. So, if you if you don't have a trade-in and you click on a user who has a trade-in, you essentially see what you saw for your trade but for their trade. So, that just happened by. So, this guy right here, he's up 5x. Uh he's up 36 bucks. I don't I can't see how long that trade has been open, but that's definitely obviously a great one. Uh >> Right. Okay. >> And yeah, it's all spinning again now for sure.

>> You can play this yourself, but then you can also watch uh others. And and >> Correct. >> And so you determine I see I see a $38 there. Is that your bet size for this position? No matter what ends up the the ticker, the leverage, the the the direction? >> Mhm. >> That's you you set your bet size. >> Um exactly. You set your trade size and everything after that is Yeah, that's it. You set it once and then even when you double down, it will double down. If I started out with a $10 trade, when I click double down, it'll add $10 to it from from wherever you are and and yeah.

So, once it's locked in, it's locked in and that's all the user needs to know. That's it. >> Wow, very cool. And you mentioned you're using World Markets to power these perps. >> Mhm. >> Um So, you and and and we had Lucas on from World Markets on actually just earlier today and so I think that's how uh hit one did come up earlier in the show. Um Lucas built quite a sophisticated trading system with World Markets. Um it seems like, you know, there's there's lending, there's earning, there's staking, there's uh swapping, all all sorts of things all embedded in there.

How how broad do you see hit one getting in terms of the different assets that you're going to have? You've already got upwards of a thousand X leverage, but essentially, you know, you've also got social elements from here. Um I take it this is live cuz we see other people >> Yeah, yeah, this is live. We this is fully live. I think in the last 2 days we probably had I mean a minimum 1,500 unique traders. Um it's probably more now. I haven't checked in a little bit. But yeah, this is all live. You can go on and you can go on right now and click my my name in the bottom of the room bar and watch exactly what we're seeing on the screen. Uh so, in terms of hit and and expanding it and stuff like that for for this game, yes. Assets

100% we want to have as many assets as possible. If you think about what we're trying to do, right? You're you're trying to catch anything as opposed to catching something, and that's kind of the the model that I'm going with. When you go to an exchange in your directionally trading, you need to catch exactly what your thesis is, right? On hit, you don't care about direction, you have no opinion, and you're trying to catch anything, a wick in any direction or something like that. And so, the more assets that we add, that's more opportunities for every time you click that button, you're resetting the odds essentially. So, we definitely want to list more assets. One of the things we noticed is that users were going up 40, 50% putting their phone down or closing the tab and then getting liquidated. And

so, we launched this thing called profit guard. It's a trailing stop at 50% it arms. The first take profit is 20%, and then anytime you hit a new all-time high of P&L, it'll auto take profit everything 20% under that. So, if you have it on and you go up 100%, it'll close out when you're up 80 dropping down from all-time high of of profit. So, things along that nature, and honestly similar on the social aspects, when we were working like beta testing this with fake money and early users, they were actually on Zoom with hit up and a bunch of them and posted it in our telegram and we were like, okay, this is kind of an idea that we were thinking about. It's clearly something

users want if when we have 20 users, 10 of them are on a Zoom call and doing this. And I think that's kind of what we take into every feature that we ship. If we see user behavior that supports it, there's no reason for us not to go out and and build it. So, when it comes to anything, whether it's game modes like profit guard or social features like being able to pull up charts in chat, it's always best to see what are your users doing and uh yeah, we that's how we're going to do it. >> Yeah, absolutely. And and you know, we everyone can also learn from everyone else's strategies. In this case, you know, you kind of just spin and the social element is more for fun, but there's there's always different ways to play the game. Like you said, game

modes, profit guard, this this sort of thing. Um I want to ask you maybe like one level of abstraction from from hit one, you know, in in general or I guess one of abstracted from 1000X, but just in general around hit one, you know, people have kind of a mixed opinion on the hyper-financialization of everything. Uh I can see and and we've talked earlier about, you know, just mega apps in general of the apps here, how, you know, they're like the new Subway Surfer. I can be going here, there, everywhere. I can be on a meeting. I can be, you know, in a in a lecture hall, but Wow, someone hit for 277 bucks?

>> Uh I don't know what that that's definitely not There must be a something's going on in the market. I hopefully that's real. I don't know, but We'll have to check on that. >> And so, I'm just I'm I'm just curious about how you react to the hyper-financialization of everything cuz I kind of go back and forth. On one hand, I can see how, you know, we want markets for everything. Markets are effectively truth machines and sometimes it can be a lot of fun, especially if people are making money. On the other hand, gambling nature is >> Wow, something is going on. >> People are hitting $25,000 on a hit one day.

>> You know what? It's It's It's so funny. I was telling everybody I thought we were going to have like 100 users in the first week and we have done that by a hundreds of times. So, we're definitely still in the mode of trying to scale everything up like as fast as as possible. Um but >> Let's go. >> on on hyper financialization of of everything honestly I think that people just like risk and naturally as humans, people crave risk and what we saw before is that the tools for risk were just not readily available for regular people like they are now.

10 years ago, I could not go on my phone and place a sports bet. I had to go to AC or Vegas, right? That's at least when I was growing up in high school. 15 years ago, I couldn't really trade options before Robinhood, right? I still cannot go onto Robinhood today and just short off the rip an asset, right? >> Right, right. >> And so I think as these things are getting easier to access, it's just a natural progression that humans crave. I really don't see it as this massive societal shift. I personally, I said this somewhere else the other day, I don't know anybody that has ever said to themselves, the world is something's going on so I'm going to put in a parlay tonight so I can make like I can get out of it. I've never heard that. And so I

think really it's just [clears throat] natural. Humans crave risk. We have tools being created every day that help them reach that. And that's kind of where we are and I say that as somebody, you know, building a product like this, this isn't I saw a sector in the market and I want to go make money. This is genuinely me as a product. I am somebody that loves risk. This came from my initial trading styles of high leverage and just choosing what's going up the most or or at least. So, I honestly don't see it as like a societal bad thing. I think everything's the same. It's just the tools are there now personally.

>> Yeah. And the tools can make it actually a lot more fun. People always wanted to access it. Um maybe it was just a little >> why? Yeah, like why should you need to be smart to make money and why can't it be fun at the same time? I I didn't see anywhere where those two rules were written down. So. >> No. >> We're doing it. >> No, we're if those rules are written down anywhere, we're going to break them. Um and so, you know, you mentioned a little bit uh 1,000x new assets, new game modes, social features. What's next for Hit 1? Sounds like you guys aren't just stopping at 1,000x. You've got new games uh coming out all all together. Anything that we can expect?

>> Yeah, so I can't say exactly what our next [clears throat] game is right now, but I I honestly think I might like it more than this one and and this one I really love. I can say that again, it won't be a slot machine UI. The UIs will change, the experience might change, but what you're going to feel is that thrill. What you're going to see is something easily digestible and understood. And no matter what at the end of the day, common denominator, these are non-deterministic games built on top of on top of markets. I don't ever want to choose whether a user wins or loses. I want the market to do that. What we're providing is just a really fun place to access risk. So, yeah, you can expect a

lot more games on either options, perps, anywhere there's a market, we are going to build something fun for it. >> Epic. Very, very cool. Guys, go to Hit 1. hit.1. Uh you can start playing 1,000x today. Uh and there's plenty more to come from Hit 1. Uh feel the thrill of the markets. That's what it's all about. Henry, thank you so much for joining. And uh you're the last app of Mega App Day. Thank you so much for closing the show. >> I appreciate that. >> Absolutely. Appreciate you, man.

Congrats on the launch and congrats to Mega Eth at large. Um we'll see you next time. All right, thank you. >> Thank you. >> All right, guys. There you have it. Henry closing the show, Hit 1 1,000 X. 1,000 X leverage. Uh he needed a VPN in order to access that. No wonder. I don't know how the US regulators are allowing this this to happen. The gamification of uh markets, the the lines are just getting blurred, you know, between investing and gambling. Why should you need to be smart to make money? Why shouldn't it be fun? We're breaking the rules around here. I think that's what Mega Eth is all about. If I learned

anything here today talking with talking with Shu Yao, talking with all of the app developers and founders that we had on the show today, man, if I learned anything, it's break the rules cuz things are just not the way that they used to be. Guys, pretty incredible. I mean, if we want to just recap here, you know, shout out to Shu Yao. Shu was on the show longer than I ever expected. This was a last-minute buzzer beater of a co-host. Uh we had Shu come on.

Uh we had her open up the show, and then she stuck around longer than most people can. Uh was a great fill-in for our co-host uh Andy, who is surfing out there somewhere right now. We had Shu Yao fill in, uh the queen of Mega Eth herself, talked through all of the Mega Eth lore and where it's going from here, what we can expect. Then we had Zits, who unfortunately couldn't make it, but we had Casey from Euphoria. We had Lucas from World Markets. We had Flux from Rocket, some insane UIs. Obviously, you know, what we have here on MegaEth is some core deep deep expertise when it comes to market

structure. Uh shout out to Lucas from World Markets, also Flux from Rocket. Um and this there's kind of like what I what I'm understanding of of the MegaEth ecosystem is that there's two core components. You've got USDM, uh which is obviously born out of the Athena ecosystem and has led to 500 million plus in TVL on Aave, which is leading this uh interest-bearing uh development that multiple apps are building on. You've got the USDM and you've got uh you've got World Markets, which is powering the perp ecosystem on MegaEth.

And these two core primitives are underpinning all of the consumer-facing applications. And so, if you think about Rocket and you think about Euphoria and you think about Hit One, you've got this really really fascinating user experience that all of these guys have been able to build something very unique and very fun, which is different than what we've seen across the map, right? For for so long it was like, "Okay, we're building all these primitives." And then that we kind of just left it at that. We didn't really have good UX designers. MegaEth has good UX designers. And they've got the backbone of DeFi with

USDM and World Markets and in perps, and that is what is now underpinning all of these really good UX designs. And and so, we've got we've got this this deep DeFi functionality at the foundation, and then we've got the likes of Hit One, Euphoria, and Rocket that really, really cool in terms of UX. And then, you know, don't forget our friends over at Monster trading cards going parabolic. I wouldn't be surprised I would I Andy over at Monster could be a unicorn, but obviously we got to figure out scale, right? Two-person team isn't going to get this guy millions of dollars of trading card inventory. And then, we got to get someone to go to the

post office for this guy. Uh and then, we had uh uh Adaberk from Bricks as well working on the tokenization of the RWA space, but it really feels like you've got this double-edged sword. You've got this barbell approach with some really, really fun UX design and some really, really deep experience and expertise in the market structure that underpins the consumer-facing applications. Guys, watch out. Don't sleep on Mega ETH. These guys are These guys are building very intentionally, very thoughtfully in mind, uh killer team all across the board uh from the core team all the way through to the ecosystem.

Guys, this is our last show. We had a Mega ETH App Day special today, and we're going to be live from Miami tomorrow. We're going to be live from the Gamma Prime Tokenized Capital Summit. Don't miss it. We're going to be going live right around our normal time, maybe a little bit earlier cuz we've got plenty of content and plenty to share with you guys live from the show floor. We'll have uh my co-host Andy coming back next week, and boy, we're not going anywhere, guys. We're not stopping. We're just getting started. Closing out, guys. Have a great weekend. We'll see you in Miami.

>> [music] [music] >> Mhm. [music]