Metamask and PayPal team up, Polygon zkEVM and more - The Daily Gwei Refuel #508 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily gray refuel where I recap the latest news in ethereum ecosystem I'm your host Ian Vanessa Sonic has the 15th of December 2022. alright everyone let's get into it so some regulatory news over the last 24 hours Elizabeth Warren who is a senator in the US has put together a bipartisan bill that basically aims to put a bunch of rules on crypto now of course this bill is trash like I'm just going to straight up say it just makes absolutely no sense uh and it's not well researched at all and obviously this bill is I guess in reaction to the FTX fallouts which again makes no sense because nothing in her bill would actually prevented the FTX Fallout because I

think what a lot of people are missing is that FTX regulated or not uh which is funny enough that that they basically committed fraud they lied and you can do that even if you're regulated right uh so even if you put guard rails in place it doesn't really stop uh someone from lying and you know committing fraud and basic quickly being so opaque that you don't actually know what's going on with uh this service right but basically there was a part of it that I highlighted here which said uh I mean part of the bill or I guess like part of what Elizabeth Warren said which says the legislation would direct the financial crimes enforcement Network or fincen within the treasury Department to designate digital asset wallet providers Miners validators and others as money service businesses this makes zero sense

a money service business is a centralized entity and there are a lot of things that you need to do as a money service business that Miners and validators and and wallet providers just wouldn't be able to do it like it's literally not possible for them to do it so it's already in my mind a dead in the water kind of Bill I I mean I don't think this has any chance of going through I think this is just political posturing but generally I you know I I want there to be regulatory Clarity for a number of different reasons but if this is what we're getting then I you know I kind of lose Faith here like it's really hard for me to look at this and and be like okay well you know we're moving towards a better a better kind of um way of doing things in the US I guess

a better regulatory framework and we're working towards coming up with an actual workable solution but none of that is happening all we're seeing time and time again is that something in crypto blows up right I mean yeah okay it's not always C5 there are other things that blob like unchain things and then we saw Terror and other such things like that but then the regulations or or kind of like laws that get proposed all are always very reactionary and they cast a really really wide net and this is like this passages that I just read out here that's an extremely wide now they're just basically trying to capture everything and as I said regulating or or I'm designating these parties as money service businesses wouldn't have prevented FTX the FTS collapse at all

this would not have done nothing for that so and and all this does is basically if it's let's let's let's step back a bit I'm getting a little bit ahead of myself let's just say for some reason this regulation Nation went into place what would happen is that everyone that was operating these businesses in the US instead of adhering to these regulations they would just move out of the U.S or shut their business down because it's one near impossible if not impossible to adhere to regulations like this and it also stifles innovation no one wants to be doing all this reporting um and all the all this kind of like tracking of these things just to I don't know uh adhere to some kind of really bad regulation right so as I said though this seems dead in the water it doesn't

seem like anything to be concerned about but the main concern I have is that we just keep getting shitty shittier and shitty out regulation legislation introduced when we should be getting the opposite and I mean not to say that it won't happen in the future I'm not to say that we won't get something workable in the future but for everything that I've seen it's just been really bad and not to mention how the SEC has gone about things in crypto I mean like really crypto has shown me that in the I guess regulatory system and it's really just confirmed my already existing beliefs that the regulations that are often put in place aren't really there to protect anyone but the vested interests that put their regulations in place in the first place like the SEC hasn't protected anyone in crypto like who have they protected they're always

coming after the fact right like uh for example the the most high profile I think um thing that happened in crypto uh over the last few years was uh the EOS Ico right like the EOS Ico in 2018 was a year-long Ico they raised a lot of money they are basically I mean it was very scammy very shady from from the beginning and then the SEC went after them long after the fact and then gave them a 24 million dollar fine slap on the wrist EOS is not designated as a security um they got the fine for uh I guess running an unregistered Securities offering at the time uh and block one the creators of EOS got to keep all basically the majority of the money that they raised they didn't do anything for Eos all the EOS bag holders are

underwater right so who did the SEC protect this is just one example they're not protecting anyone all they're doing is posturing all they're doing is assuming more power for themselves they're just caring and people like arrogans only care about their own career so crypto has really really shown a light on this for a lot of people is that these regulations these governments these kind of like legislation and laws that go into place a lot of the time have nothing to do with helping you or protecting you and everything to do with helping and protecting the state and I know that's you know that might be a little bit out there and I'm not saying that all regulation is bad and I'm not saying that centralized entities shouldn't be regulated of course they should but there are a lot of regulations out there that I don't think

really serve any purpose as I said like the SEC hasn't protected anyone in my eyes I mean the amount of people that have just lost money in crypto because the SEC has actually just refused to do their job properly is staggering and if the SSC actually cared about predicting crypto investors they would provide Clarity right that would provide regulatory Clarity to people building crypto stuff so that these people weren't forced to go offshore or forced to host their things offshore right and then people get hurt by that because as it's unregulated right like that's the most bizarre thing about this is that the SEC or I guess regulatory bodies in the US won't provide Clarity and then what ends up happening is that because they don't provide Clarity they force these businesses um offshore and then there's no regulations at all on these

businesses and we see what happens right FTX blows up Celsius blows up block fire blows up so taking all that into account right you can see that in a roundabout way the SEC is actually responsible for people getting hurt right they're doing the exact opposite of what their mandate is to do um but yeah anyway I'm I'm gonna end that rant there but there is a post here from coin Center uh talking about this bill from Elizabeth Warren here and Niraj from coin Center said the digital asset anti-money money laundering Act is an opportunistic unconstitutional assault on cryptocurrency self-custody developers and nerd operators nothing about the bill would prevent the next FTX in fact it puts users at more risk and there's a blog post here uh I I I I don't think it's too long that you can

read which goes into a bit more detail so so yeah as I said I don't think there's any chance of this bill you know going into law or becoming a regulation or anything like that but I guess what it does is it still sends the signal that these politicians are out of touch they need more education not all of them um they need more education we need to keep the pressure on and we need to make sure that both them and their constituents and people who support them understand that what they're saying isn't actually going to protect anyone it's actually going to uh result in a worse outcome uh and then we can go from there now as I said not everyone in Congress is uh I guess some blinds to crypto not everyone is biased against crypto and one of the one of our biggest

Champions right now is someone called Tom Emma who I've highlighted on the podcast before now I have gotten a bit of pushback on highlighting Tom Emma before I don't know what his politics are I mean I'm not in the US so I don't really follow these politicians very closely but he's been an ally for the crypto ecosystem in Congress and I think taking that as as it is right taking that as as kind of like in a vacuum that's all I'm saying I'm just seeing him representing crypto positively in Congress so I hope he continues to do that regardless of these other policies or others other politics right so he put out a tweet today where he says probably a good time to re-up my bipartisan blockchain regulatory certainty act the bill asserts that blockchain entities that never custody customer funds are not money transmitters providing

necessary legal certainty to ensure the future of crypto reflects American values now this is I guess like on the right track of what to do here if there are things that don't custody assets right they shouldn't be regulated like things that do custody assets that's just common sense and I've discussed this before on the review when I said that a lot of regulations are put on these uh these centralized service providers because they cussed the assets I mean the whole point is to make it so that something like FTX doesn't happen right that at least that's the stated point now when we have non-custodial decentralized financial services that people can use in self-custody the assets themselves we don't need those regulations right the regulations are built into the code for example when you

are interacting with uni swap as a liquidity provided provider you put the liquidity in a smart contract you retain custody over that the entire time yes you've given permission to UNI sub to use that liquidity and for people to come in and trade in and out of it and you do suffer losses if it trades against you or you can make a profit if it trades um you know with you and you get fees for that and everything like that but no one can withdraw your liquidity from uni swap except you so you're using a D5 protocol in a non-custodial way there's no way for anyone to because you know swap is a fully decentralized set of smart contracts on ethereum and their smart contracts the code in those smart contracts is what's regulating that so we don't need meat space regulations to to handle that because it's all on chain

whereas with centralized entities they custody assets right they used they use Fiat they are subject to kyc and AML regulations because they need to to interact with the banking system right so those should be regulated I've got nothing against that there is a line where it starts getting really shitty I mean I know coinbase is guilty of this where they just keep asking people all these really invasive questions like you know what's your employment history what's the source of funds you know uh you know what's the what's the name of your first born child like all these just I mean they don't ask that but all these like super invasive questions and it it's actually becoming like they're more regulated than Banks and it's crazy because I set up my first bank account which I still use today 12 years ago when I turned 18 and I have not once

been asked any of those invasive questions by them the most questions they asked me was when uh was when I was um applying for a mortgage for my home right that was the most questions they asked me and it was probably less invasive than uh what I get asked from centralized exchanges from time to time so those things I mean should be regulated but I I actually think they're regulated too much at this point it's very stifling and I think that uh as I said like Queen base has no choice in the matter they have to abide by these things it's not them wanting to collect all this information it's the the government agencies asking for this but when it comes to D5 when it comes to self-custody when it comes to anything like that you really shouldn't be regulating that the same way you

regulate regulate centralized services so I'm glad that Tom is in our you know Court here and outside of the Court here in Congress to I guess push back against people like Elizabeth Warren and others like Gary genslar who just view this thing as something to just clamp down on regulate the hell out of and then that'll somehow help people and and you know make it so people can't lose money or protect people which it won't do we'll just push everything off short there's no stopping this movement there's no stopping these networks as we've seen not even ofac can stop uh ethereum related apps right decentralized apps on ethereum it can I guess like hamper it a little bit but it can't outright stop it and that is the power of what we have here so let's make sure that we get these I guess like

proper regulatory Frameworks in place even if the regulations say you know don't you know hey like leave this non-custodial stuff alone you know where there's no need to regulate that if it's it's regulated by code or whereas at the C5 Services definitely regulate those things but also I would like to see them have more clarity so they don't have to keep asking like all these invasive questions because that is not good for I guess uh you know values that we all hold dear American values I mean generally like if America Prides itself on their values then I don't think they're upholding it with their current approach to to crypto here and that's my kind of view from the outside but anyway I'm going to move on from the regulatory stuff uh for today uh but just wanted to go over that because I figured it was

import important all right so just a small update on the FTX situation here it seems that all of or at least most of sbf's inner circle is turning on him or have been turning on him for many weeks now there has been speculation about Caroline the co-ceo of FTX uh basically informing on SPF and I don't think Caroline has actually tweeted since the collapse whereas SPF of course was always tweeting and I mean he's in jail now so he didn't end up getting arrested there but another person who is hilarious that he actually turned on SBF is Ryan uh salami here I don't know how to say his last name I'm just going to say salami it's the Italian in me um but Ryan's you know who I'm talking about if you've seen him before uh apparently told behind me and

Regulators in the days before FTX collapsed that SPF had likely funneled customer deposit the customer money to Alameda according to the Bahamian uh court records here and what's hilarious about this is that on Twitter on November 7th Ryan was on there basically defending SBF and defending uh FTX and then I called him out and said you know when are you going to call out your boss for being your shady or whatever and he didn't reply of course but what I find funny is that two days later he was informing on SPF I if I got the dates right so I just think like this story just keeps getting crazier and crazier and I can't watch I can't wait to watch a movie or a documentary that just kind of Recaps all of these even though I know most of the facts I think with a

bit of drama behind it it'll make for some good entertainment um or at least like more entertainment than we've been having but I just figured it was funny to kind of uh bring that up in the fact that you people will will do silly things especially in the face of adversity in the face of things feeling like they're falling apart and what Ryan did was defend his boss till like almost the last minute and then he flipped and said oh I need to basically rat out on my boss here or else I'm gonna go down with the ship and obviously like right up until the end you know you can remain I guess quote unquote loyal but as soon as things start looking like they're about to go to I mean most people abandon the ship right like they don't stick around to see what happens and I think that's

what they did so I think um these people obviously are doing this as well to cut a deal for themselves and I think they will get that deal of to give all the evidence that the prosecutors need to basically nail SPF to the wall so he can't get out of it because obviously SPF is going to I guess like be a hyper it'll be a high profile case he'll probably have good lawyers uh a lot of things will be taken into account like his age and and I guess like where he was domiciled and did you know his intent did he actually commit fraud or was it uh was it a uh a kind of like accident I don't know like whatever story he was trying to spin but it seems that the Insiders are turning on him which means they're going to tell them

like and as Ryan said here that SPF knew about the commingling of deposits he knew about taking customer deposits to do things with it he was selling customer deposits to pump up his own coins so yeah and then the reason I bring this up is because I think it's a really positive development that these inside insiders are turning on him it just means that it's way less likely that SPF is going to get away with a light sentence and I hope he goes to prison for life for all the damage that he's done and I wanted to set a um an example for people and I know people have different opinions on that and that's fine this is just my personal opinion I'm not saying this out of some kind of like retribution or revenge on SPF I didn't lose any money on there I

don't really know anyone that lost money on there personally uh obviously a lot of people did uh but it's not like I want revenge to come together I don't want kind of like I'm not a vengeful person what I want is I want people who you know obviously do things that harm others to get punished for that right like as a as a kind of deterrent for future actors and also to to make sure that we hold people accountable for their actions now are there other punishments that SPF could have rather than throwing him in a cage and and just leaving living in there to rot of course there is and you could make I guess like arguments about the criminal justice system until the cows come home but I'm not here to to do that I don't have the time to do that but I think that in crypto we need to

see more people being held accountable for stuff like this just generally whether that's ending up in prison whether that's blowing up whether that's people just announcing them and not working with them anymore it needs to happen like that it needs to happen more and more going forward and I'm going to be much more public about calling out Bad actors I don't care how many people call me an eighth Max suit how many people on me for it I'm going to be much more active calling out the Bad actors than I was because even though you know in the bull market when everyone's going crazy it might be like a negative outcome for me personally where I do get lambasted about it I I think you know once things calm down and once the the tide goes out you do see who's been swimming naked and I want to

be uh you know I want to be the one who's calling it out early so that I can protect anyone that would listen and I I did call out a lot of this stuff early on like the terror collapse and the and um uh FTX being shady and Celsius and stuff like that and a lot of the other other scammers in this ecosystem and hopefully people listen to me but like even if I only have one person that listens to me that's good enough for me I like if I can help one person that's good enough I mean that's always been my motto I think I've talked about that on the refuel from the very beginning basically and that doesn't just go for calling out Bad actors but that also goes for educating people about the ethereum ecosystem but anyway on that note moving on

huh all right so the rocketpool Odell vote for myself is going forward right now uh superfuse was the first person to vote for me and I thank him for this and then Buddha came in and voted for me second I think I have six votes right now uh I'm not entirely sure what the the the threshold is there to is there to get me accepted but they've all been yes votes so far so I'm very excited with that uh but yeah I should be part of the Odell any day now so super exciting guys and just I guess like a recap uh I've had to um I guess like uh borrow the 17 and 50 RPL that he's needed to collateralize the um the oh down node here to put up as a bond I should say I had to borrow that from the rockapool folk uh because I accidentally

staked or I guess like stupidly staked at my 1100 RPL which is just stuck now in my mini pool I'm gonna spin up more mini pools don't don't worry about that but it's just stuck there right now um and I don't I don't exactly have the spare Capital to buy 1750 RPL right now so I borrowed it I'm going to pay it back over time should take around three months at the current Odell reward rate and then after that after I pay that back I'm going to send all the RPL rewards to the protocol Guild as promised so if you see RPL going to a non-protocol address it's because I'm paying back that Bond and then once that is done the uh the um the rest of the rewards will go to the protocol Guild there but yeah exciting times guys very exciting times uh for

myself and I guess for rocketpool it seems people are very supportive of me joining the Odell and I thank them for that support all right so a new blog post around PBS today from Julian who works in the robust incentives group at the ethereum foundation so this blog post is titled Block versus slot auction propose a builder separation and Julian says on Twitter PBS aims to ensure all proposers receive equal rewards in expectation regardless of sophistication in this post we examine the effects of two different auction mechanisms block auctions and Slot auctions and introduce a new hybrid auction mechanism and you can read this blog post for yourself I'll link it in the YouTube description below but this is well worth the read here um I think I was talking in the Discord Channel about this today there are

really kind of two schools of uh I guess um Mev or I guess uh uh two schools of thought around like fixing or mitigating toxic externalities of Mev and fixing censorship uh concerns around Mev on ethereum the first is using these kind of add-on or sidecar software like Mev boost which is obviously what we're seeing used predominantly today and then the second is in protocol Solutions like PBS now the difference is that fact that the maybe MAV boost is not in protocol it is a sidecar solution it exists outside of the protocol itself um and it's so popular because Mev is such a lucrative thing right uh whereas PBS is when it eventually comes to the network we'll be directly integrated in

protocol it won't be like me V boost which is a sidecar it'll be in the protocol which means it's not optional right it's there everyone has to to run it as part of their neurodes and validators uh whereas Mev boost is completely optional like I don't run Mev boost on my nodes I do on my mini pool but I don't own my solo staking nodes uh and it's completely optional which relayers I talk to as well whereas with PBS it is uh as far as I understand it it is not optional to become part of the core protocol and then every validator will be subject to it there so it's very important to understand the distinction there between those two um and especially in the face of something like Suave that flashbots is developing Suave there are concerns around that there are centralization

concerns there are turns around them using Intel sgx for block for Block building purposes but I think Suave is not going to be the end game for ethereum layer 1 Mev and censorship resistance uh and just anything got to do with Mev I think Suave will probably have like a much better future in Korea at layer 2 like doing things at Layer Two but I don't think it should be a dominating force on layer 1 ethereum I think that we should solve uh Mev related issues and tensorship related issues at the protocol layer with PBS with CR lists with things like encrypted mempool rather than extra protocol or kind of like outside of the protocol with Mev boost that's just my personal thoughts on it but I think that's the only healthy long-term sustainable way

to actually get to where we want to be but anyway you can read this blog post from uh from Julian here I'll link it in the YouTube description below all right some massive news out of metamask today so they said on Twitter metamask users will now be able to fund their wallets with eth via Paypal rolling out in the next weeks in the U.S in the US excluding Hawaii through the metamask mobile app so basically you can go straight from PayPal by eat with PayPal on metamask in a few easy steps there's a little video here showing what it's like you click the buy button it's available in the US you select PayPal in the options uh that that kind of go there you choose the amount of eth to buy and then tap pay with PayPal of course you can check select your payment

method there and then it'll it'll uh it'll kind of pop up in your metamask mobile balance here now the reason why this is such a big deal is because PayPal has an absolutely massive user base last time I checked it was like three or four hundred million people that use PayPal it is ubiquitous across across the web I mean if you're doing any e-commerce not you know most of the time you're probably doing it with PayPal uh or you at least have a PayPal account that you use so the fact that this is integrated with metamask is really really awesome now of course there's probably going to be uh some high-ish fees associated with this I don't know exactly what the fees are but it will probably end up costing more just from the convenience of it than maybe going through a centralized exchange and then withdrawing to to

minimize directly and it will of course depend on the size that you're buying and things like that and what payment processor you process you're using whether it's a credit card or a bank balance or something or a PayPal balance right I'm sure there's different fees associated with those with those things there but this is a massive step for adoption I believe I mean it's it's really cool because of that one tap kind of thing where essentially as soon as you hit Buy on metamask mobile wallet it goes through the normal PayPal interface that everyone is used to so it's not introducing some new interface that people have to to learn or have to get used to or have to trust it's just the Classic paper interface that everyone's already used to and then they have eth directly in their Mana mask ready to go to do whatever they want right do D5

stuff do nft stuff do whatever you want there I'm looking forward to this coming to uh the extension as well um as well and not just the mobile wallet which I'm sure they're going to try and get that on board there and I'm looking forward to other wallets having this integration as well it seems PayPal is very open to crypto I mean I remember a while ago they actually announced um an integrated crypto directly into their platform they've been slow to move obviously big company and all that but great to see that this this from metamask today I think it's a really big deal and uh yeah if you have a PayPal account and you use metamask mobile might be something you're interested in so I'll link the blog post here in the YouTube description it's got a bit more details but great to see this from metamask and

PayPal today all right we have an update on polygons ZK VM from Jordy balena who is working on it or is basically the main architect behind it here so he said in the last weeks we started the audits for the polygon zkvm we are also in the final says before the launch of what should be the last test net before mainnet here are some of the updates so the proving time right now is two and a half minutes in a seven dollar an hour AWS instance uh gas limit per batch is about 10 million gas proof aggregation proofers will be able to proof any segment size of the chain um and uh he thanks uh plunky 2 by polygon zero Tech uh we can and they can generate this and infinite recursive proof very fast and more optimal start

construction thank you to polygon maiden and a very useful trick from Dan to handle intermediate polynomials you can see the different polygon ZK teams working together nicely here now Paulina did the math for us he said great to see benchmarks this gets an L1 block down to zero probably 43 cents per block or 0.003 dollars per per transaction that's basically a third of a cent per transaction L1 target times achieved by 100 proofers in parallel and the next steps would be to standardize around a selected block release Benchmark improvers that can be independently verified and data from all ZK EVMS and then Jordy replied and said we are targeting a proof below one minute by using gpus for benchmarking we are using the following references a batch full of

standard eth transfer a batch full of standard erc20 transfers a batch full of unisop exchanges and a batch full of erc20 token deployments so as I said to you guys before different things that you do on ethereum and I guess like evm networks cost different amounts of gas and that's what they're testing here but I I really like this uh this stat that point um kind of brought up here that it drops it down to a third of a cent per transaction cost on on R1 that's crazy I mean like as I've said before these Alltel ones that had like subset transaction fees they're not going to be able to compete with Layer Two it's like we are so so early in the layer 2 race right now and the costs are already this low could you imagine how low these costs are going to be once we get more

efficient provers once we get more efficient ZK technology that can work directly with these provers as I've mentioned before there are companies working on this like ingonyama working on the hardware behind it imagine you have a perfect marriage between the hardware on ingonyama's site and the software on the ZK VM or I guess like General ZK side you're going to see a very nice and beautiful explosion of cheap um decentralized secured by ethereum block space that we are going to get to the point very quickly where there's more decentralized cheap block space than there is demand to fill it and that is going to be a new paradigm for crypto because traditionally we haven't had that right we've had an overflow of blocks of decentralized blocks uh sorry overflow of demand which pushes the gas prices up on ethereum layer 1 and the

ethereum layer twos as well of course and makes it so that it's not subset transaction fees and it's not transaction fees that are basically negligible for users but with ZK Tech with the hardware stuff that I'm talking about with I guess better software optimizations at layer 2 and at layer one as well of course we're going to get to a world where everyone will be able to enjoy fast cheap decentralized and secured by ethereum transactions um we you know without having to to basically jump through hoops to do that so I I couldn't be more excited for the future of of the ethereum ecosystem when it comes to scaling I think we've finally cracked that nut it took us a while to get here but relative to I guess how old ethereum is uh or relative to how old crypto is didn't take us very

long at all so yeah I'm super excited about that but I'll link uh jordy's tweet thread in the YouTube description if you want to check out it check it out for yourself and the replies as well all right so stocknet announced today their next step in decentralization which is voting on protocol changes next up is stocknet's governance which will span over the next few months and you can see the details of this here so the tldr is the first vote to approve or reject approach changes to stocknet protocol will take place soon that participates in the votes during the first phase will be token holders delegates selected by token holder to prefer to delegate their voting rights delegates selected by the Stockton Foundation to exercise some of its voting rights and a professional builders council set by the starknet foundation

so there's this builders council here um I don't know if the members have been announced yet but uh I mean this is in line with a lot of the other l2s out there that have like the security Council this kind of builders council that all the governance Council that is working in the early stages of the protocol to make sure that things can run along smoothly but always great to see governance updates from these layer twos they all have different approaches but check out this blog post from starknet here I'll link it in the YouTube description below uh for you to give a read uh but great to see an update and I'm just going to run through the rest of the updates because I'm coming up on time here so arbitrim announced today that they have uh integrated chain link automation on arbitrim1 now developers can securely

and reliably automate their smart contracts to build more advanced apps on arbitrim very cool to see this uh I think you know arbitrim integrating all these middleware protocols really early on I think is what led to their early success especially chain link they had on board early on and they've been working with the chain link folks for quite a while it's great to see them keep that I guess like Spock alive with chain link here and if you're a developer this will mean a lot to you so again blog post will be linked in the YouTube description for you to check out and just one more arbitrim related announcement was from a project that just came across my my Twitter feed today that I thought was worth highlighting something called uh orbital uh which is uh which is basically an upcoming amm from the people behind

dopex and plutus with the singular goal becoming the premier native decentralized exchange on arbitrim remember I said before that I would love to see more decentralized exchange competition for uni Swap and I'd love to see it at layer twos well here we go and that's why I'm bringing this up because I just love more competition in the deck space because it's very important that uni swap would be challenged and continues to be challenged I don't want unisop to be the beat the end all and the be-all and end all of decentralized exchanges of amms on uh on both layer one and Layer Two so it's great to see that orbital is making an attempt to build something uh I guess at least better or more Innovative or at least just challenge range uni swap I think it's really great and really healthy for

the ecosystem but on that note that's going to be it for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the Discord Channel and I'll catch you all tomorrow thanks everyone