Rocket Pool Community Call | 01 February 2023

Transcript

awesome so yeah as uh Nick mentioned we were doing two half call as we have welcomed by the lovely team from ISO Finance who have some very interesting and uh somewhat esoteric D5 products that are very synergistic with the Our Youth and arith ecosystem so we will have lots of fun going into a bit of a detail on what myso Finance offers and then we'll transition into the second half of the call where we cover our bi-weekly update and as math LEDs to joke it is up only in length and hopefully this call will not be too long as we try to cover all those topics so I think we have enough people here to

just start uh right into this so uh what our guests like to first introduce themselves and uh briefly State what myso Finance is yes yes of course so um yeah thanks again for for giving us the opportunity to join this call very excited to be here really also super excited about the rocket food Community I have already been in touch with some of uh it really Brilliant Minds in the community I really learned so much so it's really really great too to um to be joining today foreign I'm the founder of Master Finance we

originally started as an hackathon project during the youth online hackathon and basically now very recently then launched on ethereum mainnet and we are building what we call zero liquidation loans and also excited to talk a little bit more about that in a bit and currently we have kind of one of our first two is actually focused around the rocket tokens specifically RPA and res and yeah very excited to be also talking about that a little bit more in depth in a bit very happy to have you at the end I've definitely seen some of those conversations about Mike so uh in the community so can confirm that

yep thanks and maybe also handing over to Jamie or CTO hey thanks Etienne um so uh yeah I've also had some great uh discussions already with a variety of Rocket pool community members which is uh just been a great Community uh now going back at least a few months we've been uh reaching out to uh I know valdorf back in like October November and some others and uh really have learned a lot on our end um but uh but yeah as he said just keep it brief um yeah my name is Jamie I'm the CTO so I do a lot of the the coding uh full stack and uh join miso Finance almost

right at the start so I've been working with Etienne for uh a year since I officially started I talked to him right around the hackathon time way back in October 2021 around the peak of the the whole market so uh so yeah we've really kind of been talking and working on this for now well uh well over a year and we're excited that we're able to bring it to mainnet and in particular rockpool community so thanks again guys you you've been great you know it makes sense that you guys were eth Global hackathon winner is because uh the first thing I want to ask you about is that miso is an oracle free liquidation-free leverage platform so I would like you guys to just break

down how is that past possible uh because a lot of things in D5 uh depend on oracles right and often it's cited as the weakest link in defy how can you have uh various activities without Oracle dependencies so how does your platform work to create leverage without oracles and without liquidations yes so basically um kind of our uh kind of simple idea or approach actually is centered around the zero liquidation once we briefly mentioned before so what

does that actually mean so what we are interested in is basically developing kind of an alternative form of a crypto loan so zero Liquidation on stairs they're essentially like crypto collateralized loan but where the borrower doesn't face any liquidation risk and the way this is accomplished is that in essence the lender Side by Design earns yield for bearing the risk that a loan could become undercollateralized and default is kind of on purpose leaving out this whole liquidation mechanics actually also enables a new kind of payoff or a new kind of risk exposure for the lender sites and

corresponding yield opportunities so um basically how this works is that we have a protocol where borrowers can pledge a token as collateral and then they can borrow another token against that and basically at the time when the loan is taken out it is determined or basically set in the smart contract like what is the repayment date until which the borrower has to repay and what is the amount that he owes to reclaim his collateral and basically for the kind of the loan to then be settled eventually we don't need any oracles because it's basically in the borrower's own interest

to basically repay the loan as long as the collateral is actually worth more than the debt he owes so there's kind of a natural um settlement incentive so to speak where where we don't need any external pricing information to drive that loan settlement um so in a way it's actually very simple but we think it's also actually very elegant in a way that we can basically leave this very um kind of otherwise oftentimes also very complex Oracle part out of the equation which can be also great enabler how we see it because we think especially also for early stage projects oftentimes one finds that oracles aren't yet

readily available or if they're available they're not reliable and then basically it's very hard to actually get started with creating and bootstrapping and lending markets so we think it's actually naturally a great alternative approach to basically create lending and boring markets where loan settlement and kind of loan processing can happen without this kind of external pricing and information but instead through virtue of basically inherent incentives or in this case the Borah has said before basically as kind of this option like payoff where basically he has a natural incentive to repay if the collateral is actually worth more than

the depos and otherwise he basically would walk away from the loan so this is then on the other hand side the risk that the lender by Design bears and what's interesting about that is actually also like from the lender's perspective this in a sense actually allows the lender to actually do kind of an option selling strategy so implicitly it's actually a new form or an alternative form of uh kind of doing options selling which can be also seen as a as a yield enhancement strategy for for lenders who are willing to take this kind of additional risk so before we jump into the the payoff curves uh uh so it's sort of like the

calculus about repayment let's just step back a little and uh so the audience properly understands why this is liquidation and Oracle free so in a traditional lending uh system like say Ave individuals would have to borrow from a pool of assets and that pool has to be constantly aware of the value of the assets deposited and borrowed to make sure that the user isn't sort of abusing the system this is necessary because it is a very permissionless super open very flexible system however miso and I'm pronouncing that properly right miso yes yes miso Finance takes a different approach

instead of making it super super flexible it's sort of focusing on asset Pairs and making a fixed Market with Set uh essentially variables right at the get-go so you don't have this variable uh exposure depending on the entire protocol its focused just on that uh pair and since it's just on that pair you don't really need to be price sensitive since the people at the beginning are already agreeing what they value the assets at because I approximately right absolutely so that's um perfectly summarized and also like um maybe maybe to add on to that so as you mentioned kind of these pools are structured kind

of on a pair of asset pair basis so basically also like this um first uh um poor I mentioned earlier the RPI at our East pool so basically it's deployment time of such a pool we Define what is the asset pairs on this example it's then RPL is the collateral token and r e is the loan token and then this pool is kind of specifically serving this this asset pair and this also then actually means that this pool is kind of isolated from other pools so that's also typically a point of Interest also um with some of the other bigger Landing protocols you mentioned where oftentimes

there's actually also some potential Financial contagion risk because everything is commanded and a lot of assets are basically it together in one pool and this creates all this can create some kind of additional Financial Risk where one bad asset potentially can also endanger other unrelated loans actually sweet so that sort of separates or explains how miso separates itself from other lighting platforms let's talk a little bit about the pools that myso offers and let's do this historically because I believe miso launched with our Eve as the very first pool available can you run me through how miso has evolved

in its offerings yes absolutely so basically we first launched with the hardware East rapid spoon this was kind of the premiere for us so this was the first pool we launched under our v1.0 version and basically the idea behind that was around this use case referred to as hyper staking which we also found it's very intriguing and interesting and basically we kind of started out with that poor where users holding our es could basically fetch that as the collateral asset to then borrow rap teeth then basically repeat the step to kind of lever up on their re yield

exposure while paying kind of an interest on wrapped ease and as long as there's like a positive interest spread differential then it can be very interesting to basically lever up this our eth exposure um yeah so that's the first pool offering and I just want to talk a little bit about that concept of hyper staking and why miso might be uniquely positioned to offer it so Arif conventionally trades at premium it sort of floats around its soft Peck right it it goes up against equal time as taking rewards a crew up to the Token however it tends to

grow faster than it should because people want it more than it's valued but that adds a little bit of uncertainty into the collateral's value however misofinance is Oracle free right so it doesn't depend on the correct or the rate at which arith grows as long as both parties involved are reasonably sure that our Earth will be redeemable for its value at a later date both parties are pretty much okay to sort of accept a non-oracle-based solution so you can get these hyper-staking Solutions without the this dependence on the peg holding up is that right yes that's exactly right and it's also

uh interesting to note either basically this kind of independence from this price or it could also then interesting when it comes to also potential very short-lived price deviations right so um kind of that's that's really one point to maybe highlight here also with regards to this Oracle Independence is that since we don't rely on kind of a constant price feed information and basically also don't have any liquidation mechanics that would be automatically triggered as soon as a certain price threshold is reached that's uh particularly then also

relevant for rather short-lived dpacs for example which obviously would be a great concern if you were basically hyper staking and then basically there's a very short lived price tip which then ultimately in a conventional boring and Landing setup would immediately trigger a liquidation which even if the price then actually bounces back then would still kind of put the hyper stake or at a kind of liquidation penalty loss that's right and those liquidations also tend to trigger other liquidations and make a whole big mess as we saw with RVs

cascading Liquidations in May of this past year however had those been Oracle free leveraged positions uh it would have settled without any liquidation Cascade is that correct that's exactly right so basically also this um kind of financially contagion risk uh stemming from basically liquidation mechanics in itself there's also something where we feel actually that um super liquidation owns our kind of a complementary uh solution or kind of a useful addition to the current D5 landscape where it can actually also at least mitigate a little bit some of

these systemic risks where actually a lot of this liquidation mechanics also kind of have some potential to cause a little bit of mass disruption when it comes to kind of these cascading liquidations that you were mentioning so what risks would you say that lenders and borrowers face when they're participating in the re rapid pool right so basically um with the res rapid ease pool there is um kind of with this first version we wrote out there were like a few points um which we then actually kind of learned that we wanted to adjust and that's actually also why we then

continued with the with another asset pair but basically what we learned is that on the way we had kind of the loan terms be calculated in this very first pulled version um they're the the point was that we had basically a little bit of lower Capital efficiency balls both for the ball right lender side so there basically was yeah kind of the issue for borrowers that if they actually wanted to pledge the large res amount to really actually also take a large borrow amount that there was in this very first version we had out kind of an LTV VK which meant that basically

for every addition or each unit you would have pledged that then actually you would have had kind of a diminishing LTV which basically means you had kind of a lower Capital efficiency so that was kind of a little bit a problem which we now also addressed in this new version The V 1.1 that we released a few weeks ago but that was basically also one kind of very practical problem that we were facing there but the other kind of risk or issue with that pool also was a little bit this kind of one click looping that we actually wanted to offer but we didn't yet support so what that means is basically

if you have like let's say 90 ATV and you really want to trade this interest rate spread on reth versus bear is then basically you would have to continue first attaching a certain amount boring wrapped teeth swapping that to our ease and then repeating so you would have to repeat it very often exactly so basically the way to to go about is that you actually Implement kind of a flash borrow function we basically can can do that in one go which makes it then a lot kind of a lot nicer from the user experience and also more gas cost efficient so those were like kind of then actually points which then led us

to actually go to push out another pool but also maybe to come back to kind of the general risks also in terms of that trade so the general risk is really that basically if you are leveraging long onres then basically you kind of have the risk that the staking here potentially might not materialize and you basically have to pay a higher rapid ease funding fee while actually earning a lower than expected re staking it which potentially also might be caused by

slashing or they like but basically anything that would kind of potentially endanger the yield you earn as opposed to or compared to the to the rate you have to pay that would be actually the main risk from the Bora side and then the main reason from the lender side would be a Deepak risk so on the borrowless ride you're essentially betting that the reap yield will outstrip the cost of borrowing eth right and so if those interest rates go out of whack say uh the borrow rate is higher than the actual RF yield for whatever reason uh you end up paying more so you're not Oracle sensitive in this case you are interest rate

sensitive that's exactly right so basically you kind of have the Main Financial Risk in terms of this interest rate spreads where you really then kind of uh don't or cannot know in advance also the earning yield how that would have materialize so there's like some Financial risk associated with that so that doesn't materialize as you expect then the trades might not hear the profit and so what about on the lender side you said the risk uh would be the R8 defect so this is for people who are lending eth out that's correct exactly so basically what could happen is that uh if there is a

significant defect that's then basically uh the hyper Staker would have like collateral that has appreciated in value and is potentially below the rapid eth death amount owed and in that case the Borah wouldn't want to repay be rationally you would kind of walk away from the loan and in that case then the lender would be left with the res collector and if there was like a prolonged price DPAC then the Rapides lender would be left with this or is that then has deteriorated in value

that makes sense so on this side of the equation they're not Oracle sensitive nor are they interest rate sensitive they are sensitive to the valuations at the time the deal is closed that's exactly right yes exactly awesome I think we've covered a bit about the risks of the pools functionings overall uh let's move on to the r e RPL pool I think this will be very interesting to the people listening in today can you talk a little bit about what this pool is and what are the use cases involved absolutely so um that's basically the uh yeah other asset pair we're also very excited about so basically you um there

is a there are actually two pools with RPL so we have one pool which has RPS the collateral currency and usdc as the loan currency meaning that you can pledge RPL to borrow usdc and then we have a second pool which again has RPI that's the collateral token and uh our eth as the loan token and basically both of those pools allow RPL holders to lever up their RPI exposure um we think that also particularly the RPS our East pool is very interesting for um RPL and Maxis because essentially

what you can do is kind of clutch your RPL to borrow our eth swap the res to acquire RPL and then potentially repeat or maybe just leave it at like doing that one time but essentially in what that results is kind of a lever leverage exporter on RPL and basically you're kind of betting that RPL will outperform um the ease price or is price which we think can be interesting for RPI Maxis so this uh focus on the RPL eth ratio is pretty fundamental to the way rocket

pool functions as protocol as the arith supply Grows by necessity our more RPL has to be bought and locked up and staked uh for that Supply to grow as such there is this uh indirect linkage between the RPL eat ratio and the growth of the protocol which means a lot of people in the community tend to focus solely on the RPL eat ratio when they're assessing the portfolio as such I think we we absolutely have a good number of these RPL Maxis that want to lever up on the RPL eat ratio another point I wanted to bring up is that currently it is very limited to get

RPL yield in the D5 ecosystem options are mainly are simply essentially limited to the r e RPL balancer pool or staking in a node however the RPL re bouncer pool allow opens users up to impermanent loss risk the node staking route requires you to also be staking e in the Miso pool it seems that users will be able to earn yield on RPL by lending it out which was a new form of yield that previously was not possible is that right um so this is actually also like another

Pool we're actually also looking into so exactly as I said like actually also testing the use case where you can actually lend RPL out that's something where we actually just today pushed out a balancer proposal it's also happy to provide a little a little bit more details on that as well so currently you can't lend out RPL you can only borrow RPL exactly so basically you can basically pledge rpls collaterally so you can use RPL as a collateral asset to borrow our eth or to borrow ustc against that and this allows you to basically leverage up

on your RPS side so for example this RPL res pool we offer an LTV of around 42 percent so basically what that translates into is that you can leverage up in one Loop by kind of effective 1.4 and currently also The Tenors 90 days so it's actually also what we think somewhat interesting then also with regards to the Shanghai rollout in March so basically the if you go now to the uh the pool you can basically borrow until May so right about that time

window also then with the Shanghai rollout and what's also interesting is in terms of the fee structure or interest rates structures that actually you mainly just pay an upfront fee in RPL instead of actually having to pay then interest rates uh interest rates on the loaned token in this case our eth um so all in all we we think like an interesting option where you can really then kind of trade on the outperformance of RPL versus Heath um yeah can you talk a little bit about uh the balancer pool you mentioned a balancer proposal earlier and I believe this RPL R Reef pool is made possible in

part because there's already an existing RPL re cool right yeah so um basically uh in this balancer proposal we're kind of exactly uh thinking about the the other way around that you also mentioned so we also discussed earlier this poor stay on with structured specifically for an asset pair and it's basically kind of um you need to have like one pool or RPS the collateral is the OWN token and if you want to turn it around to you you need to do a separate pool but this is exactly kind of uh what we've been working on with regards to this balancer

proposal and what this balancer proposed essentially is centered around this around this topic of increasing index liquidity for the RPL or eth pool on balancer and to specifically actually also mitigate this topic of impermanent loss that you also mentioned earlier so um basically uh the the the problem that we're trying to also um kind of solve is driving um or adding and building up tax liquidity in the RPL or youth balancer pool and currently I mean there are also

well-known solutions to to to go about this like bribing systems and so on but basically our idea is a little bit different approach an alternative approach what we are looking into is basically to allow RPA holders to lend out their RPA to our ease models which then basically our ease holders can use to pair it up so to pair the RPI they borrowed together with the res that they hold to then provide two-sided decks liquidity on balancer and the the idea behind this or why this is actually interesting is because if you basically aren't are ease older and

want to provide two-sided liquidity but you're maybe you maybe don't have any RPL or you maybe also don't want to take any RPI exposure then you can actually use such a pool to borrow the RPL and then provide liquidity in a so-called delta neutral way so what that means is that you then basically are immune against these the the topic of impermanent loss so typically if you're an LP providing two-sided liquidity on a decks then you have exposure to both assets um so if like one asset then depreciates relative to the other than this translates into a potential loss for you

as a as a DEX LP and one way to actually neutralize this is by doing the so-called uh data hedging and you can basically emulate this through a pool where you borrow one leg and basically just on the other leg and then you provide both assets as tax liquidity while actually one of those assets was only borrowed so you didn't really hold it so and in a sense what you are basically doing is you know you kind of creating a dead and neutral position in that text liquidity pool meaning that you basically are immune against price moves and in the borrowed assets

right and since this is a fixed pre-assigned uh a fee that you you're going to be paying for those borrowed assets you know the price swings Can't Screw you later on so I think that's a pretty beautiful system and I look forward to uh progress on that I want to switch gears Now quickly to some security related topics so I noticed that the part of the 1.1 upgrade for miso pools included the option for pool creators to adjust the parameters after the pool has already been deployed do you foresee any risks or security vulnerabilities that could arise from this uh and is this somewhat of a centralization hazard

yes absolutely so that's uh um kind of exactly also the discussions we're having in the team so um yes with the V 1.1 basically there were two um improvements or changes uh one is uh related actually to Capital efficiency so one change then we did is basically around this loan term calculation also to basically reduce the cell TV Decay that I briefly mentioned earlier which essentially then allows for kind of higher pool utilization and better borrowing terms there was like one change and the other is exactly that point that you mentioned right now so basically now with the v1.1 there is a

pool creator that can update loan terms and the reasoning actually for this is very simple that essentially we want to test out different asset pairs very efficiently and we decided or found that basically it's during this early Market validation phase it allows us to move a lot faster if we have kind of a pool where we can adjust long term so for example we can kind of update the ITV so especially for an asset that is maybe a little bit more volatile we can still test Market demands while also being

able to kind of adjust depending on price moves the loan terms to still make them competitive and interesting for us and basically then also allowing us to not having to deploy a new pool to that that often so that's actually really a change that we was driven a little bit by wanting to test different asset pairs in different Market hypothesis in a more efficient and faster faster way having said that absolutely the whole kind of idea for us or goal and mission for us is to actually provide a very trust

minimized setup so what we basically envisioned like for v2 is essentially allowing anyone to create his own Landing wallet which means that you then kind of are in control of these loan terms yourselves and then this mod is really specifically for you so it's actually then meant to be evolved more not necessarily other lenders would join but it's like really then up to you to Define how you want to adjust long terms and then it's really also your Capital that you then kind of put at risk or allowed to be borrowed at the terms that you set but it would be trust minimized

in the way that you don't decide the loan terms for Capital that others have provided to you so at the moment so we have yeah I was uh you feel free to continue I was gonna ask a follow-up question um yeah so just uh maybe to um add to that so one point that or basically how it's uh was a structured at the moment with the v1.1 is that the lender side is closed so at the moment it's actually not possible uh does it but not be like my next question exactly so basically uh non-white listed addresses can currently not add to that

pool so you kind of have to be a white listed address or if you do your own pool then you obviously as a Creator can then also Define like which addresses you you would like to include a set of as part of the set of lenders so for this early Market validation phase we think it's a setup which is kind of okay in the sense that it allows us to test these different Market hypothesis and different asset pairs and kind of move fast without having to coordinate with too many different lenders where if a certain new pool shall be rolled out and we want to

migrate liquidity we don't have to coordinate with um potentially thousands of of lenders who we don't know so basically for this early Market phase we think it's a setup that kind of is reasonable for for what we're trying to to achieve hey uh do you mind if I jump in one real quick yeah so the other thing uh to keep in mind is Etienne mentioned is uh technically there is still a setup even with the version 1.1 where if you were a pool Creator you could set the fees to zero it would be an APR based system you could whitelist whoever you wanted to and then you could um put the pool Creator to be let's say

address zero uh or uh you know some address that nobody has the keys to so it technically would still be possible uh to do this but the downside and this is what Etienne mentioned is if the let's say rocket eth was to drop 20 percent you've now completely lost your ability to update any of the terms so then at that point what was attractive 20 ago is now completely unattractive terms so when you've got volatile pairs what we started to notice because our version one zero did have a mutable parameter so it was completely like trustless but we quickly realized that especially on mainnet if you have volatile assets this led to a situation where you were going to have

to spin up multiple pools and this was going to be quite a problem because of liquidity fragmentation so we do care about the the trust minimization so that's why we decided to White uh to uh whitelist or waitlist because um we didn't want people to have to trust us with their Capital to update terms but um but we did it just because of that good business in our in our mind at the stage we're at it was a good business decision because it was just going to be so gas intensive and fragment of the liquidity right I definitely understand the mentality of necessitating experimentation where we still figuring things out and speaking of good business sense I think my final question for the night is uh what is the

status with United States users I believe this has been uh something that you're you and your legal team have been discussing so uh any updates on that front yeah so yeah that's that's a great point so yeah we're actually discussing this also recently with uh our legal council and still actually left waiting for a more uh definite uh answer but um yeah at the moment uh we're we're trying to figure it out and are working on it but uh um kind of at the moment it's the a little bit work in progress so unfortunately you can't give any definite answer as of now awesome well thank you guys both for

being here and answering all my questions uh if anyone in the rocketful community has any questions for the Miso folks they are very active in our Discord as well I'm sure in their own Discord uh and this is some pretty awesome technology that they're working on we did not get into the nuances of the payoff curves it is a a bit more technical uh and I suggest you spend a bit of time considering them if you do decide to use miso but once again thank you guys both for being here any questions from eunuch or Darren oh Darren still listener how are we better fix that out let me put him onto the stage but while that's happening

um no questions from me other than maybe if there's interest it would be good to get um the master guys back on I don't know if there was scope to kind of do something with one of the Friday Chit Chats we can maybe talk about that afterwards but uh as you kind of alluded to desperate we are hitting quite a serious issue in that not only do we have more and more guests for this cause the bi-weeklies themselves get longer and longer and especially for langers um it's a big 24 hours I think there's three calls for him within 24 hours obviously the East Day Care call um earlier today uh yesterday

um there was a pre-recorded session that he did and now on this call here um still not able to speak so we'll uh work on that um but yeah I was going to go and segue into the bi-weekly side of things now um unless we have anything left to cover with Master at all nope that's all for me uh if you guys miso guys want to hang out uh feel free to and we might get questions related but if not thank you guys for being here cheers yeah thanks for having us appreciate it looks like

this may have left to join again maybe that'll fix that but what I was going to propose is maybe um kind of like what we did over the last bi-weekly we touch on some of the technical uh topics now the smart node r d and leave um as I'm scrolling down I realize there's still a lot to talk about about um immigration's governance media marketing but maybe that can be next week with Ken um uh guests are still pending for that one so if it comes to it we can do another kind of um bumper recap but I think language is online so maybe uh

through those topics then we can see how we go hey Darren good to hear you hey try excuse me hey how is everyone doing well we have a jam-packed bi-weekly as per as our standard nowadays when uh when Matt sent it to me it was it took up all the page oh actually it's too big for Discord so um I was it's getting ridiculous but yeah it's awesome let's just quickly go over some numbers protocols going quite well with re Supply mini pool account both growing approximately six percent annualized uh

re uh sorry and node operator account also still trending upwards again protocol is growing fabulously uh any comments on this growth of the protocol broadly yeah that's really yeah really good numbers um obviously um you're breaking up a little Darren hello can you hear me now yep yep yep okay cool um uh yeah so the yeah the numbers are really good um yeah they're very good is good

yeah we crossed 2 000 this fortnight that was a pretty cool Milestone and we had a good amount of Twitter buzz on that yeah actually we forgot to put that in the uh as a standout yeah that obviously 2 000. it's amazing yeah 2 000 operators in just over a year and a quarter so what are these node operators using the smart net of course uh version 1.7.3 was released with a minor update for most but a high priority for Lighthouse so if you haven't already upgraded make sure you do that as well as that the test net for 1.8 was also released this is only on Prater do

not run it on maynet uh additionally uh unfortunately for Joe at 1.7.4 was necessitated because of another mind update so pour one out shout out to Joe for making so many extra releases this run around part of 1.7.4 was also an updated rewards tree spec version 4. this one is uh pretty cool in that it oh was this the one that allowed for RPL rewards to be properly portioned depending on uh exactly how long you were in them uh yeah yeah it was the mini pool um timing back then it would

um it would count kind of put many people I think is the this is what it is yeah so it's essentially just more efficient and accurate rewards for RPL stakers so great work by Joe for this past couple of weeks that but 1.7.5 was also had to be released due to a high priority Nimbus update so again uh just if you are running the smart node make sure you are on the latest version hopefully 1.8 does not require as many updates so I think we can move right into research and Design

uh one of the major updates on the website was the release of the reef Dex router which has been going quite well however the team has also been working on a complete redesign and Rebrand can you give us a little more details has anything developed in that area or is that still sort of uh progressing along in the background yeah no it's definitely progressing um the so what we've what we've actually done the so the scope of the changes um so sorry the goal the goal is to prepare for Atlas um and particularly to uh prepare for like newcomers I guess is probably the the best way to describe it

um I can kind of optimistically um so uh we obviously we're going to get a whole new brand of people that are being introduced to pocket pool um and so we need to kind of have uh or change the structure of the website slightly to kind of reflect that the other thing is we want to make sure that our offering is very clear and that we kind of put Solo stake of migration quite prominently um so that um so that's that's an obvious offering that we can uh so that we can kind of capture some of that that market so um yeah yeah just quick question similar to how ethereum had a launch pad uh are you anticipating our website to have sort of

like a solo sticker migration launch pad um that way that's not a bad idea but it's it's more oh well yes and no so there's a whole there's gonna be a whole section on um on Silo statement migration so so yeah yes in the sense that there's there's going to be a page dedicated to taking solo stakers through why they would do it um and then obviously it then passes off to the documentation for this is how you would do it so um yeah so there's definitely there's more of a there's a definitely a landing page and um okay conversion page I guess one way of saying it

um for solo stickers it gives them all the information they need to kind of make that decision um and and kind of you know push them along that way perfect yeah that's essentially what I was getting at with a launch pad so glad to see that on the teens radar and speaking of solo Staker migration we have the atlas upgrades uh audits which are underway this is the second audit that is being under taken and as my understanding correct that it's nearing completion yeah this is the last week so uh final week yeah it's a consensus diligence have been working for uh so this is the third week that they've been on it

um and it's been really good they've been um you know posting lots of questions and that sort of thing in the in the chat with us and we've been kind of going back to them about you know reasons behind certain things and that sort of stuff so they've been they've been going very very well um and and so that report uh hopefully will be delivered kind of sometime next week um so that we I don't know quite sure how quickly they'll can turn that around but we'll try and get them to turn around quite quickly so that'll report the app need next week and then once we've um got the report we will triage the um the findings um uh we'll go through and fix any

anything that needs fixing um and then um and then we'll then we'll be ready essentially um there's there's obviously some parallel work um that was is going on in terms of uh like test Nets and that sort of thing so I can go into that in a minute but um uh yeah that's that's kind of the the audit process is that once as actually after that they'll have to do a fixed check as well um and then after that we'll be able to post a report and so that's that's kind of that's kind of they're kind of the steps but in parallel to that audit process finishing we're also going to be doing doing some like the the new

um Zhang um a test net and that sort of thing to kind of continue on with the testing and so Joe let it slip uh a few days ago now that there are two dates sort of floating around the teams uh heads uh essentially based around what seems like how the audits go can you give a little bit of detail about how the decision is being made around the final upgrade day bad Journey um no no no not bad Journal we we we and we've kind of discussed kind of um

talking the community kind of through this um so so yeah so there are two dates um uh one is kind of the currently I mean this is all I will kind of preface this with all this is all kind of um the optimistic view if if again if we if we get like the bugs and that sort of thing then it's going to push down but um uh so with is the ultimate optimistic view is that we'll kind of have it done by the end of March um kind of like the last week of March um or kind of live by the last week of March um now some of it is if we end up missing that day which we might do for a

number of reasons so there's two two particular things a it could be that uh consensus diligence come back and we need a little bit more time to make the fixes um we've given ourselves kind of um a bit of time to do those fixes but if we need more time then that might push it out a little bit the other thing is community testing on gorelli so um if we feel that we need to do a little bit more Community testing we might push it out as well so they're two two kind of points at which we we could end up pushing out all the bit so if we do end up pushing it out then we've got to push it out to kind of mid April and the reason why there's kind of a big

jump is because of the reward periods we want to make sure that we've got enough time to kind of um uh we yeah we've got enough time to um upgrade the you know um the clients and everything to for the reward period and test to make sure everything's okay but we've um so fizzes uh and the Odell have have kind of got together and we're they're quite comfortable with us giving them notice and um and them you know actioning very very quickly so I think at the end of March is okay as long as we don't kind of something else doesn't um get in the way but that's that's kind of the idea at the moment

could the date could have finalized repel a day being unexpected or not what the team expected also affect the timeline or is the team pretty ready to adapt to whatever the actual shabella hard Fork date is yeah so we're going to go with a smart note stack that um uh that Works pre and post shapella so um we we're kind of not we're not relying on them uh we're going to go we're going to go when we're ready um but ideally we would go um before I guess it depends like to be honest we don't really mind whether we go before or after in some ways from a market perspective it's better to go

before because everything is then ready um particularly for a solo migrated Silo stakers um from a Simplicity perspective it's a little bit easier to go after because we can go live with everything turned on do you know what I mean it's a little bit easier but we're not we're not we're not going to um we don't know when they're going to launch and so we're we're going to have to kind of handle both and so that's what we're that's what we're going to go with is it's the smart note stack that handles it either way um now in terms of their timelines um so so from my perspective I can't see then I can see them doing it at the end of March

um I can't see them doing it before then um I might be wrong right um but I can't even doing it before then uh like just just when you look at the time timeline it doesn't make any sense for them to be able to do any quicker than that it's going to be extremely good fun but it was it was a slightly bad idea um but uh no I think no it's going to be really good to be honest over that East Denver time um some of the community will be at East Denver but a lot of them won't be so during that time is when we're going to be on go early um and uh doing a lot more the about the community testing so we can we can have

that running while we're at um Denver um and that we've kind of put some time either side of it so that we can do our own smoke testing and our own kind of like community triaging and that sort of thing for that so um yeah so I think I think we're probably we're probably lining up to be around the same time as um as the um as chappella um but you know who knows we'll have to see last question around this red digging topic um has there been any indeed discussed about when the test Nets will go live or is that sort of just dependent on the audits as well yeah so that that does depend on the

audience actually that that's on the critical past so we have to we have to have the audits um done which they will be um and we have to have to have the report and have done the fixes um and and be very confident that those fixes are uh fixed um uh before we go to the test net because there's no point going to the test net if we don't have a full um the actual contracts like it's okay to do minor minor tweaks and that sort of thing but um there's no there's no real Point going to groley if we don't have those um have the final contracts so that's

kind of our staging environment so it's the environment that we we test that out on so um yeah so that's definitely on the critical part now our current timeline says that we should be the on gorilly a week before Denver um and so we've got like a kind of that week to deploy it and do some smoke testing and that sort of thing and kind of release it out to the community so that's what we're aiming for um but we will kind of have to see how this this fix um fix checking stuff goes I appreciate all the transparency that was a great amount of information thank you okay all good so yeah so moving on a bit now from the timeline around Atlas uh some other

interesting super interesting in my perspective from the IMC is the arith exchange ratios US exchange rate and how the oracles are being constructed is there any status on the ZK sync 2.0 and polygon uh oracles yeah exchange feeds so it's actually there's actually I forgot to um tell um math so there's actually there's actually um so we've already currently have one for optimism that we push um which is what balancing uses um on optimism um we're actually doing one for arbitrim as well so we're actually doing polygon arbitrim and zkasync even though Arbitron already has the chain link

Oracle yes um so there's there's a story um behind that um in the sense that uh I'm trying to think how much I can again the like ndas are annoying um but I don't think there's I don't think there's much I think there's much so but essentially um chain link and moving towards towards a pay model um and so um we're quite mindful of that um and with those Oracle particular oracles they're not Market feeds they are they're just they're just calculated feeds so it doesn't make sense to you so it makes sense for us to use our own

feeds for those that particular purpose for certainly for Mark certainly for Market feeds um it's worth it like we're not going to build a market feed yes well I mean I don't think we're going to market the market we should probably not build a market feed um and so um and so uh that you know that that makes sense them to use them and but for this particular thing it doesn't so um so that's what we're doing with that so we're releasing the arbitrim one um episode arbitrim and polygon are done uh they're done uh the ZK sync one as you can imagine the ecosync 2 is is quite new and so we're working with the

Z casing team to just resolve um one or two little things and I think actually I saw some some notifications that Kane's been having a chat with them so I think that I think we're resolving that so um that should that should be really exciting if you are listening in and you are a team that will be launching on ZK Saint 2.0 please reach out to me langers or anyone on the IMC so we can talk about uh getting set up pretty quickly there definitely yeah that'd be that'd be very good speaking of Integrations uh we quite a bit uh Matt do you want to save Integrations for next week or that's for this week

right um let's do this on the Fly what do you think Lane is should we spend a bit more time going through some of these points um yeah there we go there's we can do some integration sounds good so there was quite a bit it was quite a big one wasn't it that's huge yeah yeah okay cool we can maybe maybe we do the top top couple or something yeah yeah so some of the more important ones are Euler Finance is a major lending and borrowing platform and they have moved re to Snapchat uh snapshot on if they should onboard and I believe this has now passed uh and this is essentially a uh signaling vote whereby once the chain

link Market feed Oracle does go live then Euler will onboard re so this is similar to Ave who have uh also posted a snapshot for the onboarding of reap dependent on the chain link Oracle integration so it's pretty good to see I believe the two largest there's two of the largest uh lending markets already very happy with our eth yeah and that's I mean lending markets are important they're kind of those um uh they're the next layer in the in the utility kind of pyramid um you obviously have you have the kind

of liquidity and then you know lending and then at the top you kind of have uh like yield aggregators and that sort of thing that kind of go across everything um so yeah having having more um kind of debt markets is definitely um it's definitely great for Ari speaking of dead markets we just in this call talked about Miser Finance uh so they released their RPL Reef pool make sure you check that one out shout out to them another major integration or well not so integrate much integration but Advent from the community is that the rocky pool rescue note is now live in beta and there is in fact a co-op for this so the rescue node I think is one of the the craziest most impactful updates or inter

or revolutions for the ecosys RPL ecosystem in that it can really lower risk for at-home stakers uh yeah any comments from Team about the progress of the rescue node yeah it's amazing I love it um again it's it's uh it's kind of a manifestation of the community supporting each other and the the way that the it because we are a staking community and everyone has kind of ethereums that's best interest at heart um but also you know they they help out each other and to make sure that you know we all kind of you know do do well um I could have done with the rescue notes because my node

went down um but no no no um uh yeah a little while ago um unfortunately I've got Nimbus uh pre-split mode now I'm now on uh uh now I'm now I'm doing what uh I would tell everyone not to do and that I'm running split mode one um but um uh but yeah that would have been so weird and handy um I'll definitely look into it for next time then you would have gotten a follow-up too ah no Mr poet uh yeah so big shout out to patches on the rescue node and uh the rescue node did in fact get funding so big shout out to the GMC too

so another integration that is being worked on is from dap node and this is one that the whole Community or a variety of communities at this point have been asking for and that is a package so that people who have dap nodes can natively use rocketpool uh this has been a long time coming uh there has been requests from both the rocketpool community and daphnode Community to get this integrated however I believe the rockpool community team has been pretty adamant about trying to work solely on the contracts and letting these other providers sort of fill in the gaps to onboard rocket pool onto their systems which makes complete sense to me so uh Darren any thoughts on dap node finally working on the rocket pool

integration which I'm very happy for yeah it's fantastic because there's there's a spectrum um of uh of people who get into staking um there are people who you know can um can install Linux themselves and and configure it and all this sort of thing so they can they can buy a box they can buy a new because they can buy um uh by produce or whatever and they can they can just do it um then then you've got the other end you've got liquid stickers who don't want to do it at all but they're in the middle you've got these people who um just want a box they can plug in and and like an appliance really that they can plug in and get it working and it's

a bit more um kind of ux driven and um or yeah ux driven and uh easier from the sense you don't have to do it as much uh kind of terminal work and that's living so that's there's definitely a kind of a spectrum with people and that's the that's what this kind of feels in avado is another one that does and something um similar as well but um so you know this is an another kind of um one of those that kind of feel that um that part of the spectrum for people I think it's important that the rocket pool team themselves are not working on this because uh a variety of voices in the community have expressed their

insistence that perhaps we shouldn't abandon a CLI because ultimately if you are a node operator and something goes wrong and you don't understand how to work the CLI how your system actually functions uh troubleshooting might become very difficult and if you don't know how to troubleshoot you could actually end up posing a risk to ethereum itself rather than helping it so while Death Note is very useful for a large chunk of users I'm glad that it is a sort of an external project but moving on index Co-op is a very index group is a very prominent protocol and they do large uh basket tokens things like the bed index for Bitcoin ethereum and D5

they have launched what they call the Diversified staked eighth index and notably re is the largest constituent of this index at approximately 44 percent uh so this token this index is very cool but it's not perfect some of the good things it does is uh it lets sort of lazy stakers get access to a variety of different LSD tokens which in some respects might decrease Risk by having a diversification however there are a variety of reasons this is not an ideal token at least as far as the incentive committee is concerned uh namely that the tokens once they're in this index

sort of just sit there they're not being used to provide liquidity to anything so it's not as efficient as it could be that said it certainly opens the door for some institution-esque investors who are looking for very simple products so what is the team's opinion on this token yeah so I think um so one of the things that they approached us on is the reason why Ari has such a big uh he plays such a big part in the index um it was I think they do a very amount of criteria there's a whole set of criteria but yeah one of the one of the main ones is the

kind of uh node to node to validator ratio and we score extremely well on that uh whereas a lot of our competitors don't and so that because that's a kind of a a key metric in terms of decentralization and kind of health ethereum so you know that's that's why we score quite highly on that and that's why they've put us in such a high spot there um that maybe this is a for another another call my only thing with a like a basket of um of it is kind of the risk of like it's diversification but if like if Ryder has a problem the risk is

still yeah yeah the risk is still there so yeah that's so that's uh that that would be my only um thing um with with the kind of basket ones if I can just just yeah um in less than 48 hours there's going to be what could be quite an interesting panel discussion um between uh Lagos himself and then uh representative from Lido and State players hosted by Nick's Coop the event is uh in the Discord as usual and we're looking to be able to mirror that onto one of the rockapool channels maybe a Twitter space Maybe YouTube um I'm going to be working on that later today setting that up the next Coupe

guys have provided that functionality so in terms of where you'll be able to watch that um stay tuned for the URL but um I'm imagining that it's going to be something definitely worth joining yeah I think this token is a net positive for the space however uh totally Echo all your sentiments there Darion that it could be better done uh because it doesn't really uh descent or it doesn't really diversify your risk uh nor does it provide too much value to the protocols however it is still a novel way to get access to different LSD tokens so really looking forward to how that conversation pans out tomorrow or

soon do we know who the representative is from the other Protocols are going to be um I'm not too sure I could ask them um maybe they've tweeted it out if so I missed it but yeah so the other some other Integrations are another couple of lending platforms uh Silo Finance which does isolated markets and yield Pro protocol uh which I'm personally not too familiar with how to do some reading on that one but cool to see the defy Integrations piling up and speaking of piling up nothing has piled up more recently than the sex

Integrations so it's sort of just been a Non-Stop flood since binance had its moment I'm just curious from the team's perspective are all of these sort of Just Happening on their own at this point yeah yeah and like um just really crazy and I feel for math because he's been he's been kind of doing the the the the sex handling and um uh so the the binance thing dropped and like that was that was just I've been speaking to them for a long time but um obviously they don't tell us when when it's going to do it so when they're going to drop so it just it just happened um and so uh yeah so that was that was

kind of a surprise but then literally uh the the next kind of 72 hours where it was non-stop sex um yeah CeX um so yeah so it was it was it was very very wild very wild tired yeah just to um probably for context here the previous bi-weekly had was it maybe three or four listings uh I honestly forget which was which um most of these changes seem to have variations on bit something or or something bit but um but yeah that rolled into the previous two weeks and there's actually one um

final uh I'm not quite in exchange more of like a an on-ramp kind of um aggregator uh entity that wants to support RPL so that will be coming soon but yeah quite a crazy time and it wasn't until I really listed them all out um in the bi-weekly that it was uh kind of hit me as to how many dropped and in such a short time it really was just one after the other um half I'd say maybe half of them reached out um to see if we could kind of amplify the message which we we kind of can do to a very limited extent but just coordinating with them on that and then

the others um just kind of went along with the flow I guess caught up with the um uh LSD Mania which is an interesting segue into um yield protocol and um I'm not too familiar with them either because um they've kind of done the same thing in terms of integrating supporting re first and then uh asking the questions later in terms of potential collaborations there so I guess that is one example highlighting um how great D5 can be right in terms of um being commissionless and enabling um protocols to kind of build on each other in that way but we are now in touch anyone uh there's the Discord 12 or so

hours ago earlier today might have seen um one of the original nerves drop in and reach out so we'll see what we can do with them in the future absolutely always open to new Integrations in D5 and Partnerships the IMC has money to spend uh if you are willing to make us an appealing offer so definitely get in touch I think we can now shift gears a bit into the governance which has been uh an interesting place in the past couple weeks so three of the the coolest archives in my opinion have just gone live recently and are available for voting uh the first one is a pretty simple one

but actually generated some great debate and modeling which is the proposed Pro the proposed protocol settings for Atlas uh the most important being the size of the deposit pool so uh The Proposal is suggesting an 18 000 eth cap from 5000 which is a pretty substantial jump about 13 000 each higher however uh due to the nature of the market expected market dynamics it is incredibly unlikely for the full deposit for the full 18 000 eth to sit full after uh solar Staker migration and lebates are live simply because of the

absurd amount of Supply capacity that will be unlocked as such it seems pretty safe or fairly conservative to increase it to this 18K amount one of the big benefits of a large deposit pool is that the protocol's throughput uh large transaction sizes become more accommodating so we've seen Lido except deposits of over 25 000 eth in one go and while this doesn't quite get us to that level it gives us a hell of a lot closer Tony comments uh on the protocol settings now that um so there was a lot of work

done by valdorf and Nashua on on that on that stuff so um definitely give them uh kind of um you know some some little props for that um so yeah that that that's that's going to be uh really good I think that's kind of if well as long as it passes which I'm sure it will um all right okay excellent um so uh uh you know that will be that will kind of kick off a little bit before the atlas launch date so that um we can start building up that capacity within the the deposit pool um ahead of Atlas launching um and people being able to migrate there well

yeah and again that might be a timing thing as well so we have to kind of feel we need to figure out um that timing so we we can launch it and eight youth mini pools will be able to launch but obviously migrations won't be able to until after Shanghai so we'll kind of have to play that as we as we find it did the community ever come to a decision around uh if the protocol should orb itself so to speak in that upgrade from 5 to 13. if there's still a premium available on the market yeah so I think it's within the well within that proposal actually within the discussion there is that um that option and um yeah so that's definitely a

possibility once once we once the proposals kind of um passed we'll kind of figure out how we can we can do it but um yeah we should be able to ARB that um premium is at that point in time but we will look at arbing that and giving that back to I think that getting I think it was basically to give it back to our holders and so so that was kind of like the idea to give it a slightly extra APR boost yeah I think that's the ideal way to do it sort of keep that value within the protocol so it's sort of belong to the protocol itself yeah so moving on to the next R pit which is my favorite of this

punch is the self-limiting rocket pool Improvement proposal uh which has made its way to way around uh crypto Twitter at this point broadly this armpit is uh stating that Rocky pool should act in the best interest of ethereum itself and that if rocket pool growth becomes damaging to ethereum that rocket club will act to limit its own growth and while the armpit guiding principles are fairly broad value-based statements there is a broader discussion with some really good analysis and breakdowns about different marking conditions that could be expected in the future and how the protocol ought react to them this is a pretty pertinent debate to

have early because having a set soft cap prior to getting close to that cap it's much easier to follow it than if you bump up against some value and then as you bump up try to decide that no you are at the limit so how does the team view this vote uh the team has actually I believe well prior to this art they've already stated that uh the 22 percent that super Fizz and the broader ethereum Community had been talking about is a very reasonable amount so I'm assuming the the team has only responded quite happily with to this yeah I mean it it's basically so yeah we kind of put that announcement out that

we would um we would support a limiting um or we would put you know before the proposal and that is fantastic for the community of kind of um I've done this um uh you know that's the good thing about Dell you know you don't necessarily need our permission um for everything so um it's fantastic so um uh so that I what it does is it kind of Echoes what we thought the community you know would do anyway and we all have kind of shared values and that shared value is well it's not just shared value because it's also just common sense right it really is common sense and it's a

it's it's it blows my mind that yeah the other other protocols have not followed suit I I just yeah it blows my mind that you would destroy the thing that is creating value uh for the sake of growth I think people have a poor understanding of risk adjusted returns in the crypto space and so if you adjust your returns for market dominance as you grow in size if your yield stays the same you're actually getting less yield in a risk adjustment sense yeah so again I think it is common sense but common sense is not common to the

common crypto Twitter person and I'm glad I'm glad we've done it this early um because it means that it sets the stage um you know it echoes that we all have the same shared values it echoes that this is what we are going to do um so similar to when vitalik said you know we're going to proof of stake uh or you know we're doing this um you know if you Echo that early then it makes sure that everyone um kind of you know is on the same page that's great exactly I think vitalik was talking about proof of stake around when ethereum itself was even launched not as like a set in stone thing but him putting the value statements out there gives guidance to the protocol

development it's clearly an important thing to do so the last rpip for this round of votes is a bit of a procedural one and it is a modification of how the grants and bounties management committee is structured uh it is changing reward Cycles from every two months to three months to give them the committee more time to live so to speak uh and it's also setting the stage for new votes as vacancies have emerged uh another thing is is rewording the idea of non-community members given that rocket scientists have recently been elevated to the excuse me

oh that position uh but again probably this is a very procedural vote so if you are interested in the fine workings of how the Dow Works definitely make sure to go vote and read this thoroughly I think the most important thing to take away from this is that the GMC is a work in progress and although we are making modifications now to it I think we should also be willing to consider future modifications uh as needed so yeah uh thoughts on this and then maybe we can jump quickly into the announcement of the grants and bounties round that's all good yeah so the ground and bounties round

was announced this uh just today and uh a large sum of money was awarded to a variety of people uh some standouts include patches for his work and support uh the rescue node can with a variety of research paper proposals Nashua within odao assessment for eventual potential elimination of the odao myself for business development work in the prior year and more I really encourage everyone to go check out their results page and see potential future work that's coming into the space uh I'm sure the team probably can't comment on

award sizes or Awards broadly but I think a different question that you might be able to answer is what would the team's wish list be seeing this round for the next round hmm that is a that is a great question um I think I think a lot of the the grants that have come through uh are really good um I think next round yeah I yeah I don't know to be honest what's what's what's what I think what's exciting is that I don't I don't know because uh it's

it's going to be what the community um kind of need and want and so that's that's where it should be to be honest um uh yeah I'm it's great that the community driving in it's great that the um you know the people who are contributing value are getting kind of rewarded for that yep fully agree uh it seems like a fruition of the community Endeavors uh personally if from my own wish list I would love to see more research oriented applications for the next round uh I love what Ken and Oshawa had proposed and I would love to see more of that kind of work uh next swing around so if you enjoy research in any form data analysis or Game Theory what have you or

social coordination we do definitely need Dao based research as well uh think of a prose proposal and throw it out there yeah the the two that kind of cop off my head but I think we we're going to dedicate some time uh once kind of Atlas was out but um depending on yeah it depends on lots of different things but there are two kind of research areas and that might be so there's one outcome area um and that is kind of slashing protection so that's one outcome area that um would be uh would be good uh so things like so within that scope there's two there's a few Solutions there's like DBT and like secure enclaves are two two things and I can kind of think of

um DVT we've done some initial um kind of research on uh it's very hard to put into a permissionless environment but you know it's it's worth doing a research piece on DVT and how it could be applied to a rocket pool there's there's that element and then the other one is um potentially like these secure enclaves um for um yeah well it is tricky so how I'm seeing it is um with secure enclaves you don't want to lock yourself into a particular piece of Hardware so it's almost like the secure Enclave needs to be uh agnostic you need to be able to

use different enclaves but um it's almost like a spec and then you can use it with different enclaves because what you don't want is to use one type of enclave and then have that Enclave be uh you know there might be a hole in that enclave and then suddenly ethereum is at risk so you know that's why it's almost like it's almost like you need a spec so then you've also got then um a consensus layer uh execution layer and then Enclave like they said there's all these permutations of different different things so I don't know and and I'm I'm not an expert on security enclaves or anything like that um but those that might be something

that is worth uh kind of looking at as well it's something that can be probably quite easily applied to to rocket pool um and if we can cut out that kind of like slashing risk we actually get rid of one of the the kind of you know tail viscings of of our of the of everything so yeah that's one thing yeah that's a very interesting idea sgx is already used to secure the Avalanche bridge and they are theorizing in the 8th magicians Forum on how to use sgx uh for Roll-Ups and all sorts of things so uh definitely if you are a researcher that is Keen on sgx please look for look around for research on sgxx rocketpool

so we are now brushing up at 7 30. uh I think those are the most important topics I wanted to hit from the bi-weekly uh final question just to sort of throw you under the bus flankers uh what's our status on odao uh conversations you don't have to go too in depth just uh uh brief terms yeah I know I was going to post back into the thread um this morning so how uh so where we're at with that is um so what we've kind of not decided but one of the the how we're going to approach it is so we're actually convening uh a meeting with the Odell so we're going to get together as a body

um and discuss um the basically the the thread so I think they were they were like kind of a few a few key issues that kind of came out of it um the first one being obviously the the kind of payment reform uh the the other one is like the Constitution which I can't remember who but that was that you that raised that um which is a which is which is a really great idea in terms of um knowing what the relationships are between the different kind of entities and that sort of thing um so and I think there was a third one but I'll double check what that is so you know that what we're going to do is uh being like a meeting of the Odell we're going to try to step back and try

and get the audio itself to kind of organize this but um convene kind of a meeting and and kind of discuss those options and then um you know come back with you know what what they've what we've kind of said um you know that's that's just to get the Odell's perspective on things um that's not necessarily to make decisions or anything it's just more to get um their perspective on things yeah this is definitely a topic that needs iterative steps and not uh Sudden Change so this that's great news very happy about that yeah and we'll I know um it's something that is kind of uh I guess like a burning issue for the the

community where we will try to kind of get this um uh this kind of meeting set up or group sets of meetings set up and you know pretty quickly yeah well I definitely Echo it is burning I still think the Community Values Atlas as the number one priority so don't feel too much pressure yeah yeah pull it up until that yeah but yeah that just about wraps up the call from my perspective well we've been Elite language run um but yeah still a lot of marketing points to get through I'll try and cover them off well we should have enough time to with kin during next week's uh Community call so apologies

um otherwise we'd probably be hitting up against the two hour mark we've reached quite a year um but yeah if you want to do your usual um closing remaps yeah recap Jasper and um yeah all righty at the beginning of this call we were greeted by the lovely folks Etienne and James from myself Finance we discussed their oracle-free liquidation-free leverage system where people can whoopsies one second sorry [Music] about that but yeah they're Oracle free liquidation free leverage platform where users who are RPL Maxes can do fixed

borrowing to leverage up their RPL Holdings for people who want to hyper-stake re they could do fixed Reef borrowing or sorry fixed eth borrowing because they're our eth this system avoids all oracles and can get some pretty exotic positions in D5 it is currently gated away from U.S members and it is still in a rapid Evolution phase so do your own research for sure uh but yeah make sure you check out myso Finance their Discord is very active and they're often in the Rocky full Discord too so if you have questions there is tons of resources out there after we discussed the Miso Finance Protocols onboarding of reef we then jumped into our bi-weekly update which

was expansive as always uh we briefly touched on the the Myriad of smart nodes upgrades from 1.7.3 all the way to 1.7.5 so if you are running a smart node make sure to check your properly updated in the world of r d sorry we also mentioned that rocketpool hit 2 000 node operators huge shout out to there in terms of r d we talked about the atlas timeline about how the audits are going to be wrapping up uh this week and hopefully they'll report next week which means that the team if all things go well approximately would be able to then start their test net in February with or

somewhere in February with a eventual actual mainnet date end of March early April again that is approximated additionally The Reef exchange rate has been near finished for arbitrum optimism and polygon and work is nearing completion for Z casing 2.0 the integration side of things has been uh incredibly up only with Euler finance and Ave both in the snapshot phase of onboarding RV Fifi finance and mikeso and yield and Silo all being prominent defy Integrations that happened most of those are lending markets mice of

Finance as we mentioned at the beginning of the call also has done a variety of products importantly the rocketpool rescue node is now in a live beta including poapp so if you want to contribute to the ecosystem definitely give that a swirl dap node also is now releasing a package for Rocket pool mini pools something the community has long been asking for sex Mania also hit a crescendo these past two weeks as essentially every centralized exchange onboarded RPL in the term in governance world three important rpips are now being voted on the first for Atlas protocol sightings the second for self-limiting principles

and the third about the GMC uh sort of technicalities definitely make sure you go and vote there's also been a substantial about of odao conversation that you can find in the Discord uh but that just about summarizes the call for today thank you all for listening and we will see you soon do you you want to give us a quick rundown of our next set of calls math it's probably a good idea um so we have the index Coupe liquid staking webinar in just under 48 hours time I won't attempt to read out dates and

times but to get them automatically updated to your time zone you can check out the events section in Discord for an easy reference there um then we are working on a special guest could be quite a large um household name at least in the world of D5 for next week that's still pending um then the following um Community call which I believe will be well not far away from East Timber we also have a special guest that's um now going to kind of mid-fib arrange for that so both of these um next cores will have more details uh shortly and they'll be updated in

Discord accordingly there have also been one or two other calls that Langer's has participated in which have been pre-recorded and they will be um released again um I think we have one within a week or two and then another um probably towards the end of Feb that's scheduled but yeah please keep an eye on that event section it is the easiest way to stay up to date with all the call opportunities that you can join and as usual uh at least when um we are hosting the calls there will be recordings available afterwards as soon as possible on the YouTube channel sweet thank you all again for tuning in

take care thanks everyone thanks Jessica