Polygon Announced, MetaMask swap growth and more - The Daily Gwei Refuel #54 - Ethereum Updates

10 Feb 2021 · 31:11

Anthony Sassano recaps Ethereum news from 10 February 2021, led by Matic Network's rebrand to Polygon, which plans to add layer 2 options such as ZK rollups and optimistic rollups alongside its existing chains; he discloses that he has joined as an advisor. He also covers MetaMask earning about $170,000 a day in swap fees, zkSync's upgrade to over 2,000 transactions per second, Dai supply nearing $2 billion, 3 million ETH in the Eth2 deposit contract, Eric Conner's thread on the original aim of the EIP-1559 fee market change, and Fei Protocol's planned March launch. Along the way he argues that Ethereum is still very early and says he expects a brutal bear market eventually, adding that this is not investment advice.

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hello everyone and welcome to another episode of the daily gray refuel where i recap the latest news in the ethereum ecosystem i'm your host anthony cesano and today is the 10th of february 2021. alright everyone let's get into the news from the last 24 hours so i think the biggest bit of news was that matic network is rebranding to polygon so before i jump into this i did want to offer a kind of i guess disclaimer and a little bit of an announcement here that i've actually joined matic network as an advisor so i'll be advising them particularly on the community and marketing side and kind of helping them on that side of things and i'll explain basically why you know i've decided to join them and help them out uh you know as i've said before on the reefer i like to join and help out

projects that i think are going to add lots of value to the ethereum ecosystem and that's exactly what polygons doing so for those who don't know matic network is a scalability solution for ethereum uh they've been developing kind of i guess solutions for a couple of years now and they've been uh they've got like a bunch of kind of solutions live as they say in this thread here they have a bunch of plasma chains live the matic pos chain and now with this kind of rebrand to polygon it's not just like a rebranding name but they're actually bringing on a bunch of new features into their feature set so they call themselves a swiss army knife of ethereum scalability they're not only going to be doing their side chains kind of like sort of like their plasma and pos chains

they're also going to be doing layer 2 solutions like zk roll ups optimistic roll ups volidium from starkwear stuff like that and they're going to have an interchange communications protocol and kind of this is all going to be available to developers through an sdk to use as well so yeah it's it's pretty big i mean this is i guess like the main reason that i decided to join was that i think you know polygon they're developing some really great tech they have a really awesome team a team that ships constantly i mean the magic team is great uh and on top of that they uh they they deeply understand the ethereum ecosystem and they're trying to be additive they're not trying to be parasitic where they they kind of hold the the same values as the ethereum kind of community and the ethos

and they really just want to build scalability solutions that benefit everyone really at the end of the day and that's what they've been doing uh to this date really so you know i guess like they're calling themselves ethereum's internet of blockchains and that might remind you of some of these other multi-chain systems like polka dot or cosmos and it is kind of like this the same sort of i guess architecture there except they're bringing it to ethereum where you know they're going to be ethereum's kind of multi-chain system where you'll have the ethereum base chain and then you'll have like the matic pos and side chains as their own kind of thing and then you'll have i guess like the entire polygon suite kind of secured by the ethereum network and and feeding back into it so you know i often talk about ethereum being this economic nexus for value for

activity for basically all this kind of like economic kind of activity to feed into it and i think polygon's going to be a big help here so yeah i'll link this in the youtube description you can go read this thread here and there's also a blog post here i won't shield too much as i obviously have a conflict here as i am part of the project now um but yeah i'm really excited for this i'm really excited to see them kind of grow and to see this kind of grow because scaling is is needed right we needed asap we we need to scale ethereum because if we don't you know uh there's there's lots of things that can happen here all right i mean i'm sure you've all been seeing kind of like i guess uh some other change like the binance smart chain get some activity lately and i've

talked about it before and about how i don't really consider it competition for ethereum but in general you know we can't have persistent high gas fees so polygon is just another kind of scalability solution that's thrown their hat in the ring here with with a lot of experience to help scale ethereum you know we have so many now right like how many do we have like we have stock where we have loop ring um optimism with optimistic roll-ups the mata labs arbitron arbitrage roll up uh that there's so many i mean i'm obviously forgetting some here let me say go have their plasma chain and stuff like that there are so many kind of like out there now that you know it's insane to me that anyone's kind of bearish on the future of ethereum scalability

i think you know and we even have the bridges right i've spoken about connex vector before and hop protocol that was announced the other day to kind of bridge these things together and polygon is actually going to be working on a way to bridge this stuff together as well so yeah i mean i've just personally never been more bullish on the layer 2 ecosystem within ethereum and the general scalability ecosystem and you know that's that's i guess one of the major reasons why i was so excited to join polygon is that i get to actually be at the forefront of something that's incredibly important to the ethereum network but also incredibly important to just me personally um and then kind of that's that's kind of what runs through my mind when i joined projects is like is this project going to add value to ethereum

yes is it going to add value to kind of what i want to do like am i going to enjoy working with this yes right and do i think it's like a net net kind of positive overall and yes those are like my kind of three check marks and i've and i have personally knocked back a lot of projects in the past that wanted me on as an advisor or something like that because at the end of the day if it's not adding value to ethereum uh i don't really want to be a part of it really so yeah i mean i'm an advisor to some other projects obviously like set protocol like i was working full-time there betterment advisor m stable of course been an advisor for them for a while and there's a few more unannounced projects as well uh that that i've

joined too but yeah as i said that's my general kind of play when i get involved with this sort of stuff and yeah i i'm kind of like fully aware that you know if i put my name on kind of any project people look at it and it's like oh maybe it's legit right i must be legit i don't want to be kind of hurting people into the wrong sort of stuff right i'm an educator i definitely don't want to be want to be i'm kind of leading lambs to the slaughter so to speak so yeah anyway i think i went off on a little bit of a tangent there but definitely go check out this thread from polygon i'm super excited about what they're building so interesting tweet from ashley from uni swap here so i'll read out what she said she said the first cell phone came out in 1983 it

was 11 inches long two and a half pounds heavy and cost four thousand dollars early adoption is expensive and clunky hang in there just as with cell phones soon nobody will be able to imagine what life was like before ethereum end quote now this goes back to what i guess i've been talking about a lot on the refuel about obviously how early we are and how we're kind of pioneers of this technology you can imagine you know having a cell phone in 1983 you had to be i mean four thousand dollars back then is is i mean today it's more because of inflation so you know most people couldn't afford to spend four thousand dollars on a cell phone and it was a cell phone that really wasn't that great right it wasn't like a smartphone or anything like that so you know back then it was only for

rich people just like how the ethereum network today is is pricing out a lot of i guess users who can't afford it right uh and on top of that it was really clunky right 11 uh inches long it's huge right two and a half pounds very heavy i mean i think that's like four or five kilos um so very very heavy there if i'm doing my math correctly i think i am uh maybe i'm not anyway st no i don't think it's five kilos i think it's like a kilo or kilo and a half or something like that i'm my conversion right now is probably butchered but anyway it's still heavier than what we have today uh and you know fast forward i guess like what what is it like 20 something years from that date to when the first smartphone came out where we basically put a supercomputer in

everyone's pocket right and i know smartphones are expensive today and like you can kind of spend three thousand dollars on an iphone these days but i guess if we're talking about like the general cost like most people buy smartphones that are less than a thousand dollars like us dollars essentially they are not 11 inches long i mean you know they can get big you know they've got the phablets and stuff like that but it's a different kind of thing where it's all screen it's not like a keyboard and like just space everywhere because you need to fit all the parts in and stuff like that so i guess the general point here is that you can look throughout all of history and look at all the new technologies and kind of how they've progressed right a new technology will come out it'll be very limited it'll be only available to

i guess like a very limited set of people usually people with money and then quickly over time it'll get better and better you know it'll scale out and then more and more people can get access to it the same thing happened with television right the same thing happened with automobiles the same thing happened with air travel like all this sort of stuff right you know look at look at air travel today like for a few hundred dollars you can fly across the us from end to end right um you know and and you know without advancements and kind of like economies of scale in that technology it would cost like a ton because you know it's not really cheap to fly an airplane like the fuel is super expensive so in the same vein ethereum is super expensive today because there's limited capacity right

the network is limited to around 15 transactions per second and any more than that kind of like um means that network's overloaded and you have to like outbid each other to get into an ethereum block so that's not always going to be the case for for end users you know um the base chain will probably always stay kind of limited and you know we're always probably going to fill up the capacity there but as i've said before most users are going to sit on layer 2 they're going to go and play there they're going to get better kind of scalability the costs are going to be way cheaper and that's coming very quickly so yeah i mean this is what i what i always talk about i know i hop on about this and i know i'm probably preaching to the choir here but this is what it is at the end of the

day and i think because we're so early and it doesn't feel like we're early because the markets get really ahead of themselves same people kind of get like a false sense of you know we should already be like scaling to service the world sort of thing and i don't think that's true i think there's a very big disconnect between the prices and the actual tech readiness i actually think that we're going to go through this entire new cycle of crypto this bull and bear cycle or at least the bull cycle and not be anywhere near ready for mainstream adoption i think maybe by the next crypto cycle so maybe in like three or four years right we'll be ready for mainstream adoption in that the network will be able to handle you know hundreds of millions of users potentially

we're not there yet we're not anywhere close to that yet i don't think uh not on ethereum not on any other network if i'm being honest right even the the famed binance smart chain is is just a clone of ethereum and even that can get congested if enough people use it um so we're yeah we're not close to that and and at the same time people are probably over kind of underestimating how long that's going to take because we're still so very very early i actually think we're not even at the dial up internet stage i think we're at like the 56k modem stage of the internet so we're pretty much in the 90s if you were to talk about the internet and then over the next it'll be it'll be a faster progression like obviously the internet took a a long time to kind of roll

out uh because it was hardware and kind of like infrastructure based whereas ethereum and its ecosystem is software based so it's much easier to scale software right than it is to scale hardware because with the internet you needed to actually lay all the kind of like infrastructure and even though they laid all the infrastructure they were still piggybacking off the existing kind of landline infrastructure too or the telephone line infrastructure right so even though they did that it still took a while whereas with software you can scale out this stuff really relatively quickly and kind of like um you know once you've got the foundations laid you can actually have like hundreds of millions of people using your thing within a couple of days they've actually been apps before that launch they get tens of millions of

users within just a few days because all the infrastructure is already there and and software can can just scale way easier than kind of hardware and and that that hard infrastructure so from that perspective yeah i think it's going to be a quicker roll out with ethereum and layer two uh and i'm excited to see that but yeah i don't think it happens during this bull market because i actually don't think this bull market lasts for very long maybe over the next few months until we have like a a big crash and unfortunately as much as i would like there not to be another bear market i'm pretty confident there will be and i'm pretty confident it's going to be a pretty brutal one from what i've seen in the markets right now not investment advice but man like if you go on coin gecko and see what's

going up in price you kind of think to yourself like where's all the money for this coming from right who's buying this like there's stuff that's getting bought that is kind of quote-unquote dead and hasn't been like hasn't done anything in years and and are just pumping ridiculously and you know i just keep looking at it i'm like who is buying this stuff and i know who's buying it right it's new people into the ecosystem but eventually that funnel of kind of new people runs out and then everyone runs for the exits and that's how you get a kind of like bear market but not saying i expect it anytime soon but just what i'm seeing it kind of like concerns me at the end of the day but as i've said before i think you know as i even said yesterday with kind of elon musk and tesla buying

btc i think we have a long ways to go because there's going to be just so much more new people coming into this ecosystem and it's going to get really really crazy it's going to make 2017. i think it's already made 2017 look like child's play if i'm being honest right so just keep that in mind i think no one's ever going gonna be able to spot the top i think a lot of the top signals that we used during 2017 are going to be kind of hard to use this time around but yeah keep your head on don't get too kind of like crazy i guess um and make sure you stay focused so kevin rose uh who has 1.5 million followers on twitter and who for those who don't know is the original founder of digg which was a popular news board before

reddit kind of i guess like overtook it he put a tweet out today about nfts and uh the then specifically called out the project uh uh nftx or um uh niftex i think that's how you say it or how people say it now i've spoken on the refill about how i think there's a lot of people coming into ethereum through nfts right a lot of new people especially people with like large followings and we're seeing this play out every single day at this point uh and you know what's what's cool about kevin's tweet here and i'll read it out he said i just discovered that you can take crypto punks and uh in bracket nft digital art close bracket and deposit them open breaker add liquidity close bracket to a balancer pool basically creating funds of crypto

crypto punks holy mind blown all via niftex so he's not only discovering nfts he's discovering the power of defy as well in the same thing and he's broadcasting it to his 1.5 million followers yeah which i thought was really cool because you think about it the more people hear you know the term nft nor more people hear the term d5 right you might hear it once as a new person you might just dismiss it then you hear it again and again and again and again and the more times you hear it i guess to a point where you're like okay i've heard about this thing so much what is it it plays out the same way for like when people hear about bitcoin right they hear about it from like a bunch of different people and they're like okay well this is obviously a big deal i'm

going to check it out they google it they fall down the rabbit hole yada yada right the same thing's going to happen with nfts the same thing's happened with d5 to an extent already same thing obviously happened with ethereum and you know i think we're just going to keep seeing this play out it's just it's just crazy that we're seeing so many of these kind of internet celebrities that have large followings uh already kind of get onto this stuff and i mean it's unfortunate that they're getting onto it at such an early stage where you know obviously the network's very expensive so these people are going to get kind of burnt by that but it's still awesome to see so yeah i just wanted to call that out um i think it's really cool and i disclaimer i own niftex tokens so i'm not just chilling it because of

of of niftex here i just thought that that the tweet was cool so tom schmidt put out this uh tweet today about metamask and how they're printing uh kind of cash right now from the fees in their uh in their mobile wallet so for those who don't know not mobile sorry in their chrome extension so for those who don't know in metamask if you open it up it's actually got a swap feature that they added a few months ago where it's basically a decentralized exchange aggregator that'll kind of tap into all the dexes on ethereum and get you the best price but on top of that they charge their own fee and i think the fee is about 0.8 percent so right now they're doing 170 000 a day in fees on 20 million dollars a day in

volume that's crazy right that's crazy good revenue for something that was doing zero in like well october i think they launched this thing in october or september they were pretty much doing zero dollars a day in revenue from what i know there was no other way metamask was monetizing unless they were monetizing you know some other way that we didn't know about but now they're making 170 000 a day and growing you can see from this chart that the trend is up here right and uh i think this is amazing i honestly think this is this is an incredible way to monetize i think that people said that um there's a lot of people that said you know no one would pay these fees but at the end of the day you know there's a there's thousands tens of thousands millions of users on ethereum that you know they're going

to use what's easiest for them and if metamask offers the easiest kind of dex aggregator experience that's what they're going to use and and kudos to them for rolling this out and on another note here i actually think this is the easiest way for them to roll out a token if metamask was to do a token so they can't actually airdrop the token to people who use metamask because they don't know your address that i don't i'm pretty sure they don't keep that data and they don't keep data of what kind of address belongs to metamask what was created using metamask or whatever um so they would have to do it based on this right based on how many swaps you do through the app that's the only way that i've found that they could do it there's there's no other way to track it

and fair and and fairly distribute the token but on that note i don't know if they're even doing a token i mean i suspect they will because you know why not everyone's doing a token right why not do a token but in saying that they don't even need to when they're printing this much money each day from fees which you know is basically i guess like free money like there's not much upk here with with metamask they're developing new features and things like that but i mean this is like just free money because they're not they don't have to kind of work on the liquidity pools they just tap into all the other liquidity pools on ethereum and kind of like process the volumes and get the fees from it so yeah very very smart there but we'll see what happens with a possible token i'm

not holding my breath i kind of put out a prediction that i thought that there was like almost 100 chance that that that they will do one in the next year um and i kind of still think that but at the same time like i given that they're making so much money from the swaps i just don't see a reason why they would outside of i guess like wanting to decentralize it with governance and maybe do some cool experiments and stuff but we'll have to see what happens there i think so red phone crypto put out this really interesting tweet thread today and i won't read out the whole thread i'll link it in the youtube in the youtube description you can check it out yourself but basically what the the kind of gist of this thread is is that he's trying to convince people

and it's very it's a very convincing thread that when you're looking at charts in crypto and looking at the price charts and thinking to yourself wow this growth is insane like it's parabolic blah blah and it is right but what he's saying in this thread is that even though it's kind of parabolic what you're seeing are charts that shouldn't exist because a lot of the time when uh kind of like stocks begin trading right so so think about like a stock like let's just take uber for example when uber was raising money before their ipo they raised in different rounds so this is normally how a kind of like a startup gets funded they'll have like it's optional but they'll have like a pre-seed round then they'll have a seed round a series a series b series c series d series e i think it

can go for a while but usually they get to like series d before their ipo i think and it could be different rounds in between them called bridge rounds as well so usually that is uh a rounds that only kind of private investors get kind of access to accredited investors in the us uh people with lots of money funds all that sort of stuff right it's not typically us kind of retail investors get access to now when the kind of company finally ipos like what uber did the valuation is already really really high i think uber's ipo opened at like 60 billion or something like that but until that's kind of that 60 billion dollar point it's not like they weren't getting funding they were raising all those rounds right but there was no price discovery there

was no public kind of price discovery where you see the the kind of like price of uber going up over the chart because it's not publicly traded um but it only becomes publicly traded when it ipos and then as i said it already opens at a really high market cap whereas if you look at something like ethereum for example which did an ico i think it was like 30 cents per ether ico they raised like not that much money things like 10 million or something and then when it launched on market the market cap was like 30 or 40 million for eth back in the day now that would be a market cap of a typical kind of seed seed stage company seed maybe series a if they just win an ipo'd right now because of that you have like this long price history for ethereum

over the last five or six years that you wouldn't have had normally you can imagine that if ethereum was like a traditional kind of company that basically raised all these rounds for five or six years then ipo'd ethereum probably be worth 200 billion dollars when it opened on on the stock market right but because ethereum has been publicly traded for the its entire life cycle essentially or one year after it raised money actually to be fair you see this insane price growth so and this isn't just with ethereum this is with all assets because of the fact that these assets trade so early they're obviously incredibly risky but the upside is there whereas for us normal folk we don't usually get to get exposed to this upside you know vcs and funds typically make a thousand x on their successful exits a

hundred to a thousand x on their successful exits from their investments once the ipo goes through because they invest so early this is the same thing within crypto right if you had invested in ether ico you made thousands of like x's right and and held till today you made so much money from that and not just that right ave for example like i speak about that a lot like most of the default tokens even wi-fi for example imagine if you bought wi-fi at a hundred dollars because it was trading there for a little bit and then you watched it go to forty thousand dollars right that's that's an incredible game that's like a what a 400 times gain or something in like a month right so i mean normally it doesn't play out that fast but generally the idea is that because we're

we have these things that are tradable from day one you can get in early on them and then the growth that you see on them isn't so crazy when you compare it to the traditional investing world where the growth just happens right through these fundraisers where the valuation just gets keeps getting put up every time they raise funds um whereas in crypto it happens live on the public markets which is which is quite cool i think so yeah that was the gist of this thread here i i highly recommend going and reading it because it gives you like a tldr um of everything but yeah i really like this thread so a thread from eric connor today about the history of eip1559 that i thought was really cool i'll of course link this in the description but for those who don't know eric is actually a co-author

of one five five nine with uh vitalik buterin um and he originally it was his idea originally i remember him talking to me about this he was like dude like the gas fees on ethereum that the gas fee mechanism on ethereum sucks right the first price auction mechanism that we have and he went searching for some kind of i guess like alternatives and he came across uh vitalik's blog post about one five five nine um it wasn't called one five five nine back then it was just like an alternative kind of proposal that he came up with so eric and vitalik co-authored the eip um and then you know it's kind of like the rest is history right we kind of know what's happened since then but basically this thread was based it was to say that the original intent of one five five nine

was to fix the fee market for users and improve the user experience it wasn't to you know pump the price of eight by burning fees that's just like a nice benefit we get from one five five nine so good to keep that in mind and i'm glad kind of eric called it out here which i thought was really cool um but yeah go give this tweet thread a read if you want some history links to some blog posts as well it's good to kind of like know your your history especially on something as important as eip1559 so some layer 2 news today zk sync has completed an upgrade bringing their main net capacity to over 2 000 transactions per second and the cost of uh of of doing a transfer on zk sync is 1 100th of the l1 cost so you can see here that sending

kind of die here i think uh is 65 or something like that that must be paying like a pretty high fee uh whereas kind of transferring die on uh on sorry on zk sync is uh 65 cents so it's it's much much lower um now for those who don't know zk sync is is currently integrated into git coin so whenever you go on git coin and during the grants rounds you're doing kind of like donations um to people you can choose either mainnet ethereum or zk sync and zk sync will save you up to 90 in in gas costs uh which is which is very very very welcoming and very incredible actually and on top of uh the kind of improvements here the transactions per second they've also significantly reduced deposit and

withdrawal costs and we saw loopring do this the other day as well so yeah just more layer two improvements coming this stuff's live and now that it's live people are just improving it and it's great two thousand transactions per second that's a massive kind of improvement over main net as i said maintenance it's stuck at 15 transactions per second so this is like a kind of like a massive gain here i don't know what i i can't do my head math right now but i think this is like a couple hundred kind of times gain on mainnet so really great to see this from zk sync so mariano put out this tweet that the die supply is nearing 2 billion dollars which is really really awesome i think what the most awesome thing about this is that people kind of wrote maker off right

people kind of wrote maker off as like a project they wrote off the token but dye kept growing uh dye is you know a huge decentralized stable coin now it is the biggest decentralized stablecoin and you know two billion dies nothing to scoff at and this is all printing revenue for the maker protocol and for maker token holders um where the mkr tokens kind of get burned from protocol fees so yeah huge milestone here and congrats to maker on reaching it uh i think two billion is going to just be a footnote here i think we're going to quickly keep scr that's kind of scaling up from there as i said i expect stable coins across the board to hit trillions of dollars of market cap this cycle and dye is going to play a kind of like big part in that but i do

think the centralized stable coins like usdc and usdt are just easier to scale so we'll see them grow first but yeah uh stable coin growth is just going to continue for sure speaking of growth there is now three million eth in the eth2 deposit contract which represents about 2.7 percent of the total supply of eth uh so for those who don't know the deposit contract is basically where you send your eighth if you want a stake so three million eighth is going to be staking in eth2 um and that's that's worth 5.5 billion dollars at current prices at you know if it's 800 1800 which is a huge amount of security for for eth2 right now and you know this is this is great because this is still just like the one-way

bridge right most of this at least you know there are some services that let you tokenize your your staking position so yeah really really great to see that i just wanted to call that out there so faye protocol announced that their genesis event is coming in march and they also put out a blog post describing the token distribution so for those who don't know faye protocol is a new decentralized stablecoin using kind of an algorithmic approach now there's been other algorithmic stable coins like dsd and esd and uh debased and kind of like some other ones out there that have tried and i think at this point have failed to gain any sort of traction outside of speculative manias because a lot of the mechanisms of these kind of things don't work um

yet they're being worked on still don't get me wrong it's not like the project have failed but in their current iteration they need a lot of work now fade protocol i've spoken about on the refill before but they're coming at it from a different direction where they're not kind of using a coupon system they're using a bonding curve and i highly recommend going and reading the kind of blog post here um and then reading about fey protocol it's a very interesting idea i think it could work but we never know what can and can't work unless you know this thing's live on main net so really pumped to see them go live in in march which i think um you know it's only a month away right so i think we're going to see more and more of these stablecoin experiments play out and as i was just

saying stable coins are going to grow to trillions of dollars and we're going to see tons of experiments most of them are going to fail but the ones that succeed are going to change everything i think i think algorithmic stable coins can actually work we just don't know which parameters to set yet to get them to work so i'm very very excited to see this play out so quick shout out here to uh validator.ethe on twitter and uh this person here defy dawson for building this app called claimable so what this app does is you put in your ethereum address and it will tell you uh what airdrops that you can possibly claim so it's obviously very uh these are these tools obviously very very good if you have multiple addresses right you don't have to keep switching

between them you can quickly paste them in here and see which airdrops you have to claim and it also lets you know about airdrops you didn't even know about which i thought was was really cool as well so i'll link this in the youtube description and you can go play around with this tool so the fellowship of ethereum magicians have put a put out a blog post about their main takeaways and learnings from layer 2 on ethereum sessions that they ran over the past few weeks it's a kind of kind of a short blog post here of five minutes but basically it gives you kind of like a a rundown of where i guess like the state of layer 2 kind of the layer 2 ecosystem on ethereum today so i highly recommend going giving this a read it was very interesting there's a few interesting nuggets

actually towards the bottom here with the main takeaways where you know the the kind of problem domains and challenges obviously being costly transactions for users which aren't sustainable uh the concerns about l2 so obviously loss of composability is a big concern here but i've said how we're going to kind of rectify that with bridges and then there's kind of like other key highlights here about kind of polka dot and cosmos preparing us for multi-chain and as i've mentioned before polygon polygon is bringing multi-chain to ethereum so yeah i mean this is a great blog post definitely go give it a read if you haven't yet so last up on the list here is boring crypto announced today that the bento box contract for sushi swap is live for those who don't know bento box is a

new lending market part of the sushi family uh so it's now live on uh kind of like the ethereum mainnet and a bunch of other networks the test net networks uh and an arbitrary arbitrary layer 2 test net as well so that's really cool is layer 2 implementation already live but there's no ui yet that's coming soon as boring crypto says here so yeah really cool to see this this kind of go live because this has been much hyped within the sushi community so yeah kudos to them for getting this out there all right that's it for today's episode everyone thank you again for listening and watching if you haven't done so give that video a thumbs up subscribe to the youtube channel join the discord server subscribe to the delegate newsletter and i will catch you all tomorrow thanks everyone