Merge updates, Arbitrum 2D fees and more - The Daily Gwei Refuel #398 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delegate refuel where we cap the latest news in the ethereum ecosystem i'm your host and this is honor and today's the 4th of july 2022 all right everyone let's get into it so just a quick reminder here that i'll be hosting this live stream with the eatstaker crew for the sapolia test testnet merge now i did mention last time we didn't know exactly when it was going to take place just because of the hash rate changes and i could bring up the website here that i looked at last week that you can monitor the hash rate changes on so it's bordell.wtf so basically we want to get ttd uh so we want to achieve ttd by wednesday july 6th at 4 p.m i think that's yeah 4 p.m at utc or 4 45 ut pm utc here so to do that we need to

maintain the kind of like i guess the cash rate that we have now uh which is essentially what we're doing so i think that some more hash rate came online from either kind of like some of the core teams or just the not a good benefactor here that allows us to kind of reach t2d by that time but if people decide to join with their hash this could happen sooner or if someone decides to pull out it could happen later so we don't know exactly what time but here is the expected time right now wednesday july 6th 4 45 pm utc but you can definitely check back at this site and keep checking twitter for an update there but if you want you can also go to the live stream link here and kind of set a reminder so that you're you're basically told as soon as the

live stream happens all right so speaking of the merge there's a couple of things to get through so the mainnet merge shadow fork 8 is happening tomorrow 5th of july so this is going to be exciting i just i guess like we've done seven of these so far and most of them have run pretty well this will be the eighth one hopefully look i i would really love to see one of these mainnet shadow forks go like 100 right like no issues no merge or non-merge related issues on any of the clients like imagine if we had all the clients talking to each other and it was all 100 that would be really really cool to see i mentioned before how some of them had some issues around kind of like configurations non-merge related stuff that isn't a deal breaker but it would still be really cool to see a

hundred percent there so is that happening tomorrow and then as i just mentioned a couple of days later the sapolia test net uh merge will a transition will happen and then we'll have girly so girl is a bit different in that we don't have to basically rely on hashrate because gurley is a proof of authority network so that'll be easier to merge in terms of like timing i expect that probably late july at this point uh if not early august or something like that i if it happens late july that gives us a nice you know amount of time until kind of obviously december to get to mainnet merge and we could do some shadow forks in that time as well but i i feel like we just like i know i say this a lot but like we're so close so so close uh mid-september is

still my estimation or still my kind of like guesstimation at this point but i'm not going to rehash that there as you guys have heard me talk about this a million times before but speaking of staking uh jessic here basically put out a tweet today saying so what can you do with the new light client protocol getting merged into eth2 uh nimbus now has a light client implementation that allows safely determining uh the head of the chain at 20 to 30 bytes per second but on its own that's not very useful enter the light proxy so basically this thread is about light clients and kind of like nimbus approach to this and how they're working towards this this is like clients are basically the concept of being able to validate the chain without having to store the whole chain on your device now why would you want this well it's good

for stuff like uh kind of like running a light client on like a smartphone for example like a bandwidth limited and a hardware limited device but even just generally being able to essentially use kind of like a light client to validate that the chain that you're kind of like talking to is the is the valid one instead of having to kind of run through the whole thing and have like a full node running or something like that it's obviously very powerful it's something that's been spoken about spoken about for a while now it's something that other networks have also looked at i believe polka dot was really big on light client design um i'm not sure what status they're at yet but it's definitely been talked about in ethereum for a very long time now and it seems there are things in motion which is very

very cool to see so you can go read this thread holding in the youtube description below uh second thing on staking is that hill dobby has added some stats to his eth2 staking deposits dashboard and now includes top depositeds deposited amount liquid staking market share entity breakdown category breakdown staking market share and more now this is probably my favorite dashboard i think it is my favorite dashboard at this point for keeping up with beacon chain related uh statistics our e2 staking kind of like statistics you can see all sorts of information like really really good information like obviously uh deposited validate share liquid staking share you know lighter share all these sorts of stuff and i've talked about it before on the refill so i won't rehash it again but yeah like you can go check this out i'll link him in the

youtube description but uh it's great to see that hill dobby has updated this with more relevant stats for us all right so super fears put out a really really great tweet that really resonated with me um i think he put this out yesterday where he said ethereums need to begin preparing media and informational packages for local media outlets now the merge will change everything the media knows about ethereum's power use and we have an opportunity to support them with clips sound bites pics and gravity graphics everything's changing the reason why this resonated with me so much is because it's something that i talk a lot about on the refill right i'll talk about narratives i talk about how the transition to proof of stake while it won't have an immediate effect it will have an effect on the narrative of ethereum and the narrative probably

crypto more broadly because ethereum obviously the second largest proof of work network will no longer be proof of work ethereum will be a green network it will be using 99.95 less energy probably even even more than that or even kind of like less than that right um and and and and kind of like i think that's going to be a very very positive narrative that plays out in the mainstream especially because every single time i go on uh say a reddit thread that's talking about crypto and i'm not talking about the crypto subreddit talking about like the just the generic subreddits or i go to some kind of like comments on a post that's got nothing to do with crypto but crypto somehow brought up like nine times out of ten someone will mention the energy usage and someone mentioned how it's boiling the oceans

and destroying the planet and this and that and the other right so obviously crypto has not only bad image problem just generally but like a very very bad problem with the the people who care about the environment and typically those people are definitely on the younger side and they're the ones that we definitely want to uh be adopting this technology we want them to be joining our ecosystem we want them to be part of this kind of like mission we don't want them getting the wrong idea but they're not going to join they're not going to use this stuff they're actually very ideologically opposed to it simply because of the use of proof of work instead of something more efficient so i think that that's i think that's the reason why a lot of people don't like bitcoin as well outside of the ecosystem obviously it still applies to ethereum

today but once we merge it no longer apply so we have an opportunity to have like these massive media pushes massive mainstream media push to get the news out there to make sure people are aware that ethereum is no longer proof of work it is proof of stake now of course people are still going to hate ethereum for various other reasons right they're going to hate it because of nfts they're going to hate it because they probably just think it has no value but at least with at least those kind of like narratives i think are not because they're not based in on kind of like fact and reality pretty much none of that none of the points that i've seen except you know that they're always gone about the speculative activity which i'm going to talk about in a bit but i'll get to that in a sec uh we have

just an opportunity to change the kind of like think their thinking and their view of ethereum's uh kind of like energy use which i think is really really cool now we don't have to explain to them what proof-of-stake kind of like is or how a theorem of stake is superior to other ones uh we don't have to explain what validators are we don't have to explain the 32 minimum none of that sort of stuff all we have to do is be very clear in our message that ethereum no longer uses proof of work mining it uses a a kind of like separate system altogether called proof of stake which is 99.95 percent and you know energy uh energy reduction compared to what it was using before and we can prove this to them we have statistics and facts and charts and things that we can show these people if they want to

dive deeper and we also have awesome blog posts that have already been posted before there's one that was posted on the ethereum foundation blog that actually did a study on this so we have the proof we have a way to educate these people but it's not going to happen if like it's all in long form and that's what super fears are saying yeah we need sound bites right we need clips we need nice pretty graphics we need all that sort of stuff we need to start working on that i think superfiz has actually started working on that i don't have the tweet here but if you go to his profile you should be able to see it i think he's working on a repository right now kind of like an open source efforts uh you can kind of see uh let's see i'm just scrolling down here to see if um

if it's here uh yes i think it's this one i opened the github repository for media that we can share with our local media outlets related to the merge so you can go check this out i'll um i'll kind of like retweet this here and also open it so that i don't lose it but basically yeah you can check that out here right now he's got a collection here and you can obviously submit your own because it's an open source kind of collection you can spend your own pull requests all that sort of stuff but yeah super fees is 100 right here like we need all that information ready to go so as soon as we switch off proof of work because it literally happens in a block right that's actually pretty crazy still the craziest thing about the merge to me and there's so many things that i think

are crazy and awesome is the fact that it's literally one block this period of work the next block is proof of stake and that's it like that's i mean all the work that we're doing is just to get to that point and it's taking so long to get to that point but it's just it's amazing that that's kind of like you have what you can simplify it down to right um but once that transition happens we can hit hard hard on it and i'm sure the media is going to cover it anyway like the merge obviously being a very big event everyone's going to be talking about it the media will cover it but we need to make sure they hit on that point that we want them to hit on is the environmental point and now i know people have different views about this i know people say proof

of work is not bad for the environment it encourages renewable energy uh all these other kind of like things i'm not here to debate that i'm not here to argue for or against that all i'm saying is that the narrative and the narrative doesn't have to be based on fact or reality but the narrative that exists in the mainstream is a very very anti-proof of work like ver like i mean i don't even know anyone from the mainstream that actually thinks that proof of work is a good thing because of the energy use that's all it doesn't have anything to do with anything else except the energy use so we can check we can kind of like change their minds here around ethereum because ethereum will no longer be proof of work they'll be slightly more open to it than they were before but as long as we educate them i

think that we will you know we're doing a really positive thing there so good tweet from super fears just wanted to amplify and also add my touch to it as usual so there was uh this tweet from will sheehan here who's the founder of parsec finance who is a chart that basically shows each stakers by entry price you can see basically uh each staking went live december 1st 2020 the eighth price was around five hundred dollars or something but before that the deposit contract was live for i believe two weeks uh from november uh no it wasn't like it was live for a while but we needed to reach uh kind of like the minimum by november 24th for us to launch on december 1st but basically you can see here that most people have deposited

their ether into kind of like into staking uh uh above one thousand dollars and one thousand fifty two dollar eighth so eighty-three percent of people who have deposited eighth uh uh are in loss quote unquote now why i say loss quote unquote is because all this is showing is what the time what the price of eth was at the time of deposit it's not showing when this eighth was bought or purchased like just because an eighth was deposited into staking it two thousand dollars doesn't mean that someone bought it at two thousand dollars they could have bought it at a hundred dollars and decided to put it into staking for example so it doesn't show that but it does show the distribution of of stake now uh you you're gonna need to kind of like do probably more analysis on this you'd have to run through all the addresses

and it'd be very hard to do especially if came from centralized exchanges to find out you know as accurately as possible when someone bought their eighth and when they staked them what price they bought it for and then when they staked it and what price they kind of like bought it for there so this is the best information we have available to us today so let's just say most people entered staking between twenty five hundred and three thousand dollars so uh kind of like that that's what it kind of kind of like shows here right it's got like a big hump there and then it's got um it's got like uh uh i guess say um a fall-off towards towards the end and also at the beginning too now i commented on this and i said i quote tweeted this and i said i wonder how

many people realize that this a can't be unlocked or sold until probably six to 12 months after the merge just got to get eth back above 3k by then so i think a lot of people took from this chart that there'll be people just wanting to sell immediately once withdrawals are enabled obviously post merge i don't think that's going to be the case for all the reasons i've outlined before obviously there's that kind of like withdrawal queue so not all staked it can can be unlocked as i just mentioned you don't know what price people bought the ether only what price are they deposited into the interstating at and eth can be above that price by the time withdrawals are enabled say withdrawals take 12 months from from now right which is probably on the on the longer end of things like i don't know what the price is going to be

but i you know there is a reality where the price could definitely be back up to three thousand dollars like that that's not i mean 12 months is a relatively uh long period of time and and it can definitely happen but i don't know if it's gonna happen i don't think that staking was ever designed around that and it's not a strong argument for why people would sell or wouldn't wouldn't sell sort of things so i think it's just like a really interesting chart that i hadn't seen before but i don't know how much insight we can glean from it considering that for the reasons i just outlined but also because like it doesn't matter what price people kind of like deposited into staking in my mind doesn't really matter at all but if you take it to kind of like as a signal of oh this is how much cell

pressure there will be once withdrawals are enabled i don't think that matters either i actually think that uh by the time withdrawals are enabled it's it's kind of like hard i mean impossible to know what the price of ether is gonna be it could be back up to three thousand four it could be it could be back at all time who knows right like the craziest stuff has happened so that's why it's very very hard to clean any real insights from this but one thing i i kind of like i want to say here as well is that there are also liquid staking providers so just because this eighth was deposited into staking and obviously it can't be withdrawn doesn't mean the people that kind of like put uh the eth through lido or through rocketpool didn't offload the st8 or i8 for example and they can do that i mean a lot of the

i mean what lighter is like what 30 on the network so people who entered through lido uh at at a higher price they could just sell their st they probably take obviously the loss on the dollar term and also the loss on the eighth because st8 is at a discount but they could exit if they wanted to obviously that eight stays in the beacon chain because it can't be withdrawn but it the person who originally put that ether in is now effectively exited their position right so that's another thing you can't really account for so yeah i just thought it was an interesting chart but definitely not something that i think is a is a is something that we can glean any real investing insights from for example all right next up we've got ben edgington with a new what's new in eth2 newsletter that you can go check out

here i'll obviously link in the youtube description just a friendly reminder i had a talk with ben edgington as part of the ssv network merge series you can go catch that on their profile i also spoke about that i think last week too uh but yeah i mean you guys know what's new in eth2 is like the the kind of resource that i use to keep up with everything happening with the eth2 effort with staking with anything got to do with like the whole kind of ethereum roadmap really i mean ben is on top of everything it's really really awesome that he's still publishing this and it's free guys like it's crazy that it's free considering how much information he packs into these things so you can definitely check this out i'll link it in the youtube description below it's got links to so much stuff i

mean you could actually spend a good few hours just going through the newsletter and then going through all the links that he kind of places in here and it's a really really good use of your time as well like it's not just a good use of your time in terms of like gleaning some some investing alpha from it but also just from kind of like increasing your knowledge like i know on the refill i talk a lot about various things and sometimes a lot of the time i won't actually give much context because i don't have to repeat myself every time and i do go into the weeds a fair bit but if you want to kind of get you know even more into the weeds or kind of get additional context of things that i talk about especially related to eth2 then i think

ben's newsletter really really helps with that and helps you kind of keep on top of things it gives you relevant links all that sort of stuff so definitely go check this out i'll link it in the youtube description below all right so obviously arbitrarium last week had a bit of a snafu with obviously the gas fees getting higher on arbitrary than they were on mainnet and i explained why that happened last week and then they had to pause their odyssey initiative uh because of that now they published a blog post here called understanding arbitram two-dimensional fees from daniel goldman who works at arbitram here so you should definitely give this a a read it basically goes into more technical detail about how arbitrary the the fee market on arbitration works or how arbitrary handles fees uh and how they're calling them two-dimensional fees and it's only

a three-minute read so very very quickly here but i did want to highlight this since i did speak about arbitrary last week and i also had so many people asking me about arbitrary especially around how the gas fees could be higher on albatroman than on layer one ethereum which to be fair is a is a kind of like i guess fair question i don't blame people for kind of arguing asking that or kind of um i guess like being concerned maybe as well but i did explain that on last week's review so i'm not going to rehash it here on one of last week's refuels you can go check it out it's either i see a little one on thursday or friday i think but you can go check it out it's on on the channel um and then you'll be able to find it there

uh but yeah just go read this blog post after i guess like listening to me talk if you've already listened to it just go read the blog post and you'll get more details about that all right so so we got some june 2022 stats for ens uh over the weekend so 122 000 new ether registrations in june for a total of 1.47 million names three point three million dollars in protocol revenue all goes to the dow twenty five hundred eight in revenue uh third highest month twenty five thousand new ether accounts with at least one ens name which for a total of four hundred sixty three thousand and ninety nine percent of open c domain uh volume now you can see the chart here as they always posted i've kind of like highlighted this chart before what i love about this and i think i mentioned

this last time it just shows that ens is one of those apps that exists in a kind of like um i guess in a place where not many apps exist and that's the non-speculative category where i know there is some speculation of ens names but for the most part people just want to register an ens name to tie it to their address because they want to be part of the web 3 community and that obviously lends itself to a lot of non-speculative activity which persists even if we're in a deep bear market like we have been since you know november i mean look like look ens biggest months were the last three months it's pretty crazy right um which and this perfectly sex segways me into my tweet that i wanted to talk about today that i kind of put out i wrote a newsletter about this too but basically

i said i would love to see more non-speculative ethereum apps take off during this bear market so far the most popular ones i can think of that have actual active users a git coin pull up and ens then i asked what else is there didn't really get great answers uh from the from the replies and i'll probably go through some of those in a sec but essentially get coin you guys all know giklin they're trying to build a more open source internet they're funding public goods they're doing a bunch of these sorts of very non-speculative things right pull up same same thing you get a pull-up for different events that you attend or different online things you you attend or different things that you do you collect them they can be used in raffles and token gating in you know decentralized kind of voting and civil

resistance all that sorts of stuff it's not inherently speculative ens as i just explained people want to register a name attach it to their address all that sort of stuff obviously there's a speculative element attached to each of these with git coin people may donate to a grant because they're expecting an airdrop with pop people may kind of like buy or sell them with ens people may buy or sell them as well because they're nfts but inherently they are not speculative based there's not many of these apps that exist on ethereum today major reason being lack of scale like both bitcoin and polyp were actually kicked off layer one ethereum or out all priced out of layer one ethereum essentially and they're not kicked off or priced out right because git coin had to move to zk sync because obviously it didn't make sense to say to people oh well you can

do it at a dollar it'll get matched by ten dollars but to donate that dollar it's going to cost you 20 bucks right obviously it didn't make much sense um pop same thing like most of the the pops that get minted are worth nothing like they're not worth actual kind of like money and but that's not the point of it but the thing is is that like no one's going to want to mint a pull-up for for like 20-30 dollars especially if it's not worth anything uh ans uh kind of like i guess same thing but ens only exists on layer one ethereum and it's not that expensive these days i guess and also for people who are who are registering in ens it's like kind of like a one-off thing where you register one and s you tie it to your address and that's kind

of like your web three identity so it's a bit different but git coin and pop definitely got priced out of layer one and pop now exist on xdi and a few other networks i believe um they're looking at layer twos of course and things like that uh but that's because the things that priced them out were speculative activities for example it makes sense to pay a fifty dollar fee to claim a one thousand dollar air drop and then it even makes mo it makes sense to go swap it that air drop for eth and spend 50 bucks on fees so you spend 100 on fees for a thousand dollar airdrop you still profited 900 from that right so that all that activity and especially a lot of the mav activity crowded out the non-speculative stuff which means that we need more scale and that's why these things went to other

networks now something like lens protocol was also a non-speculative ethereum app that exists on the polygon pos chain today and there are some others out there i think but i'm not sure how active they are i wanted to focus on things that actually have kind of like product market fit and actual active users for a long time now which these three apps do but i think once we get more scale once we get kind of like transaction costs like just collapsed to pennies i mean we already have that um but like the infrastructure need to be built out we need kind of like more solutions out there then we'll see more of these non-speculative apps because simply put like any economic activity that happens on layer one ethereum is going to compete with each other it doesn't matter if it's speculative or non-speculative and the speculative stuff will probably

always trump the non-speculative stuff simply because there's more of a proper opportunity there or much more of a proper proper opportunity than otherwise would be and some of the answers i got here uh were kind of like i mean olwaki from git coin talked about impact dow so obviously dows play a big part here as well but i don't think there's any doubt that i would consider to have like active users uh in terms of like being a really big active collective of tens of thousands of people around the world doing stuff we're not there yet hopefully we will be um and then some other kind of like uh things here i mean i mean a lot of them were kind of like speculative based anyway um i think there's some kind of like payments apps as well which isn't necessarily specular speculative based either so that kind of like makes sense

um but then some other things like doing analytics which i wouldn't consider an ethereum app they're just they're an infrastructure provider right uh someone you know i mean you can see the list here i mean like liquidy is a is is like a maker like that's that's a speculative thing most people are using liquidity to borrow again against their kind of like eighth to go kind of like uh leveraged trade right um jpeg i believe is like a kind of like an nft ecosystem or a kind of like a cultural thing nfts have a lot of speculation attached to it but you have to go through each and every one i mean link link makes sense link is an infrastructure it's not it's not speculative but it does i guess like i mean it gets its usage from being infrastructure for speculative activities so there are kind of like

hybrid approaches here right so it's kind of like not a an exact science you have to think through each individual application um and there are things like polygon id i mean again i wanted to focus on things that actually have like active users polygonally is very new it doesn't i don't believe it has a lot of users um someone's saying uni swap again like that's speculative stuff like i think people actually get the wrong idea of what i meant here maybe i should have expanded a little bit but uh it kind of like confirmed my my theory that there really isn't that many non-speculative things and the reason why i would like to see more of it is because the reason we have such violent market cycles is because it's all speculation like you can't have a i guess like a healthy sustainable crypto ecosystem uh for the long term if

everything's speculative like if if we go up a bit based on speculation then we're gonna come down because of the fact that that going up was based on nothing fundamental nothing real it was hollow right and with all that speculation uh we came with new users but they all left as soon as the money ran out right as soon as the speculation stopped rewarding them they left and we we lose basically 90 plus percent of our users every single time this happens now obviously we only gain them because of the speculative stuff but if we want to move past that we need to build more non-speculative stuff so people actually come into this ecosystem and use things um whether it's a bull or bear market like i i honestly really am sick of these bull bear markets like i've been through enough of them at this point and

i feel like we really need to just move past it but i do feel like the the main limiting factor has been scale and we've got it we've got it it's coming i mean there's more coming like it's it's live we have non-speculative apps that have product market fit so we know they exist we just need to build more of them right and i think we will but it may take another cycle or two i'm not expecting the cycles to end anytime soon but i would really love to just try and move past as much as possible because it's not healthy it's not healthy for it to be like this all the time uh it's not healthy for the crypto ecosystem to basically go through massive boom and bust like it's not just a small boom and bus guys this is a massive thing where

we literally go through like a massive growth phase for like a year year and a half and then we have like a two plus year depression like that's not how a proper economy should function it's not how a proper ecosystem should function long term it's fine for a nascent ecosystem where there's a lot of speculation going on because no one really knows what's going to take off and not take off but long term it needs to be based on fundamentals it needs to be less speculative and i think we'll get there and i think we'll get there because of the scale but but yeah anyway those are my thoughts on that last couple of things to get through before i wrap it up today um so speaking of i guess like applications uh speculative or otherwise chain link god had a really great thread out over the weekend where he starts off

by saying tokenized real world assets is how d5 will scale to a global level a thread covering my thoughts on the opportunities and challenges this presents so you can read his thread for a full breakdown of this but the thing is is that like real world assets people say oh reward assets on chain can't work for this this and this reason i'm like okay whenever they say that i say to them what's the biggest app in crypto today and they might they they may say oh uni swap or something else right or some other like big app like um like uh like uh the curve or or maker or kind of a compound whatever whatever big app there is at the time depends who they are i mean obviously if they've got bags they'll shield their own bags but whatever and i immediately say to them

no it's stable coins stable coins is literally the biggest application that exists across ethereum across every other every alt l1 every kind of ecosystem i mean it's the biggest thing in crypto what is a stable coin right what is where where are most of those stabilizers not die right die is big but it's not the biggest by far there are other synthetic stable coins out there there are other ones that are kind of like are trying to be decentralized but what are the biggest centralized stable coins okay what are they they're real world assets because the centralized stable coins are backed by us dollars in a bank account that's a real world asset so when people say to me oh they don't exist they can't work like they do work and the biggest app in crypto so reading channeling gods there was great because i was like okay well i mean obviously i

see the vision here like it makes total sense to me people can keep saying that it won't work but we have undeniable proof that it works and it's huge and i think stable coins are going to be even bigger than we can imagine like they're big today i feel like it's going to keep getting bigger and bigger because at the end of the day payments is the kind of like the the uh the heart of an economic engine like people buying and selling things like that is the heart of it at the end of the day and what did what do you need payments for do you need payments to enable that trade to occur that's why stable coins are so popular that's why they're going to continue to be popular that's why eth being used as money is actually quite popular especially in the nft ecosystem because

you need a unit of account you need a medium of exchange to process all this economic activity um but yeah without going off too much on a tangent there you should definitely reach handling god's threat because it makes a lot of sense but next time someone says to you that there are no kind of like real world applications you can say to them yes there is stable coins biggest application in crypto by far right huge volumes huge market cap growing huge like hugely over time doesn't matter if it's a barrel bull they are definitely growing over time um and have plenty of growth potential left right so you can say that to them next time they tell you that all right finally here mahalo from polygon shared some interesting news where he said after instagram facebook officially begins testing a polygon integration if deployed widely anyone in

the world will be able to connect their polygon wallet to facebook and to play display nfts as posts mass adoption infrastructure in the making and he's right here to say that and you guys know i'm an advisor to polygons i'm not going to get too chilly here but i think that polygon is really the only or one of the only teams in the ethereum ecosystem that is on the forefront of bringing in outside kind of like people outside organizations outside companies into crypto not just with kind of like facebook and instagram and other web 2 giants but also with gaming like and also with kind of um i guess like payments because they obviously partnered with stripe stripe yeah stripe the other kind of like month right they're doing so much

bd effort on these sorts of things that a lot of people son doesn't seem to be paying attention to maybe because the bear market but guys like this is huge stuff like you may think it's boring because it's not like web 3 it's web 2 and it's like just bridging them in but like this is how we get mass adoption this is how we get more people involved this is how we get more companies and institutions and and developers involved we need them to come from the web 2 world because i mean everyone coming into web 3 like most people coming into web three are coming from that other world like there are obviously people coming into web three and being web three first but the majority of people aren't web three first from from my experience so we need to definitely bring them in from other organizations

and we need to bring these organizations on board as well which i think is really really cool and i think that's something polygon definitely excels at here but as i said don't want to get too chilly i'm going to end it there for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and just wanted to quickly mention we hit 20 000 subscribers so awesome if you haven't subscribed yet please do so let's go for 30k next that'll make my day make my year make my month for sure so yeah i'll talk to you all in tomorrow's refuel thanks everyone