Rocket Pool Community Call | 21 June 2023

Transcript

thanks Matt for that introduction and hello everyone uh glad to be here with another defy integration for arith this one is a pretty cool one and it's uh utilizing all the defy expansion that arith has had in a uh one compact way so we are of course joined by uh is it Cayenne protocol Kian protocol which uh has a suite of strategies that you can use on with heart on their platform uh so would you like to introduce yourselves and uh very briefly what your

platform provides yeah so um first um some background of myself I'm the founder and a CEO of KM living um I started my career as a software and Hardware co-design engineer with Intel Corporation in Netherlands and that moved to Stanford University doing research in fpga based on super Computing architecture and later on I redirected my career to strategy Consulting first with Accenture and with mccandlessy and and then in um 2017 um after um founding uh I mean

an unsuccessful internet company um I started doing RV trash in a crypto and started to grow the team and agree or understanding a decentralized world and gradually transition from C5 to D5 I mean starting from end of 2019 even before D5 summer and about a 15 months ago and a half years ago we initiated idea of bringing Advanced device reality tools automation tools to the public and the best key in and Kian um actually is open source device strategy vaults and advanced or decentralized automation tools

that enable users to generate their honest gravities so starting from day one um which was like uh within the year back PM had a strategic focus on LST at that time we expected L Street to disrupt the entire device deck because uh we thought it was a test 92 become both um largest yield source and largest asset a class in D5 no years to come and especially in the beard Studio we believe it's to be a single biggest yield um Powerhouse nd5 and after um

and uh curve well what's that over to you I mean provided a high yield anymore my Kia started from um on the launch network uh which and at that time was still pretty active then uh well can gradually extended its reach um KOA polygon ecosystem and for the time being um Kian generates around 50 million of TV dollar TBR via its LSD related strategies on both Avalanche and polygon networks Kim is the largest alsd related provider um now we are expanding um The Presence

to a different ecosystem um requires strong support from uh almost all the mainstream LSD service providers one which rocketball is the most decentralized protocol and in the past couple of weeks can has released their votes for uh LSP recursive strategy on all mainstream um ethereum L1 and L2 networks and I mean last week we launched the first strategy also for Rocket pool so uh I think that's awesome yeah [Music] uh how users would navigate Cayenne for the R8 specific strategy

so as a new Cayenne user when you go to the protocol uh you have to create a smart contract wallet is that correct well um we provided two type of services in general first um the automation tools so to utilize automation tools you're gonna create a smart contract because to do any kind of automation um in a completely decentralized way and our users can choose you got to have your own smart contract so we caught a smart wallet and that's um one format of service would provide and the other formattism but um sort of a conventional work but uh

what framework is totally different uh we um Implement pretty Advanced um Automation and vaults and and uh involves new users um is it a pretty in a pretty straightforward way it just deposit tokens in advance and then leave it behind got it so in the vaults is the current res deployed strategy a volt or in the it's more contract wallet is it in the wall it's isn't about it's in about I mean time no smart contract so users can just deposit directly into the bowl and then have their res deployed within the strategy and this strategy is a

recursive looping on of it right so users will have Ethan against their reef and then deposit it back for them yeah it is so um um unfortunately you know the market um does not support the uh get Yoda for the spirit right now we've got to be patient and wait for a while until that General is hire you but uh I mean if we look back uh like 20 minutes in general in a general it will generate a pretty good you know sweet apy to the users yeah unfortunately for the time being the re apy is uh being a bit dragged down by the queue uh in which about a third of our validators are stuck in

however in the future uh the RN APR should be above the borrow rate making this basic strategy profitable I had a question about one of your other vaults uh it mentioned a strategy of automatic Arbitrage where users would have uh would automatically buy under Peg lsts and then sell them on Peg can you talk a little bit about that strategy yeah for sure so we haven't implemented that as a uh strategy bottle uh what we did was uh um it provided an um automation tools for a user to I mean run their own strategies um in their smart wallet and it's um

it's kind of interesting strategy it's not only the RB charge um I mean for the uh cap okay for the gap between um the nominal price of LSD and a marketer price um it's actually also leveraged so it means if there was um one percent of difference between number price and market price for one of the LST let's say uh rocket pool is then in this strategy um it helps you to leverage it by three times utilizing uh Avi so that means you could uh enjoy three percent of the premium

and that's how it works that's uh pretty interesting and this is built through the automation tools uh is this possible to do with re currently then or no to do with uh you mean with avat AR so if I wanted to so users could set up our youth yes automation strategies with re EF so so it's been sort of simple for us we just replaced the token but apparently there were a lot of tweak you need to do to make sure not a compatible availability is not a problem so after

some testing we could have made it available one of the interesting things about Ari is uh it has the opposite kind of Peg issue occasionally that Steve has where uh sometimes teeth will go under Peg giving this Arbitrage opportunity for people to buy speed under Peg and sell it at Peg our eth occasionally can also drift over Peg so there's sometimes opportunities to hold or we sell it up above Peg and then buy it back when it hits pack again so setting up both types of automations would be pretty interesting through kayad yeah and actually

um I didn't really realize that's a good use case for or use the holders so yeah well definitely um um have a deep discussion internally I'm trying to make it available to you or its users ASAP [Music] you got it can you talk a little bit about uh the uh the protocols that you have currently and are potentially planning on expanding to in the future um yeah well [Music] um we we are actually

um expanding uh both horizontally and um um vertically actually uh horizontally um we actually um are expanding our Expressions across multiple Networks um as I imagine we started with the Avalanche and polygon and then we gained some experience and understand and use their behavior and what user needs from that period of operation and now um we are learning um um if they remain at um two layer twos uh one is orbitrum and

optimism optimism is also alive when this week um and we're also looking into ZK um based at ltus they're not a really mature um at a moment a better uh we can keep it a close eye on it um I'm not sure at the moment I'm not sure um how many CK based lqs we're gonna mention oh but uh for sure um CK sync and um polygon Hermes or two Targets for the rest we gotta see the progress um that's uh for interesting to see where uh the the ecosystem ends up building

around there's so many of these chains that are that seem like they're about to be launching yeah absolutely and also I mean that's that's horizontal and a vertically um we are also looking at different um lsds we want to support we started from a smaller osc service providers on Avalanche that's being key and then we expand it to illustrator um polygon uh later um we started to support uh Lido Who provided a lot of incentives to us and starting with uh polygon Network as well you know ethereum I think the three main targets for the main partners are radical and

Lido so we actually got a lot of requests from other networks like uh from Cosmos ecosystem uh Solana ecosystem and even a file coin ecosystem um I mean requested enough to launch our particle there uh but uh what we're gonna see um how's it going to play out awesome can you talk a little bit about the the fee structure associated with the vaults so let's say that the vault is earning a five percent APR how much of that actually gets returned to the volt depositor and does cayenne take any cut of that [Music] yeah um

for the um tool I Am Pm actually um does not charge anything at a moment for the strategy Vlog um kind of um from a six percent to um 10 percent of the uh profits user made so that's performance fee say a user omega five percent apy out of the strategy well and uh key in my Gap 0.25 or 0.3 a pretty small premium that's a pretty fair amount and you mentioned that the tools they don't uh Kian doesn't charge any fees is that correct

yeah it's pretty for now awesome so can you talk but uh yeah okay I I got to just remind some of the users um um the tools the uh to use the tools um for each holders I might be a little expensive because uh um I think or if is pretty um I mean Superior in a minute for a small investors um the gas fees on the main net is killing so keep an eye on the gas if you want to use the automation tools I mean that if you are a whale or I mean you you are pretty exciting one that's cool

no problem got it I'm for the automation toe tools duh I'm guessing you you can get charged gas Visa uh whatever activates or is it just uh in the initiation um well initiations one thing um let's take recursive strategy as an example so you created a recursor strategy um position um you gotta use um the flashlight um you gotta incur a lot of uh gas and also um there might be price difference um I mean between unsticking price which you're unsticking and Market applies so

that all creates a sort of what do we call um a a lack of a period and that uh I mean requires a uh breaking even time of about two weeks or so or uh up to four weeks sometimes so for smart users I mean this cost accounts for a large percent might account for a large percentage of your principal let's say probably one to two percent possible uh before uh larger uses my account for a smaller percentage I guess it was 0.5 or something so you need to keep an eye on this yeah gas companies can really uh eat

into things especially with L1 fees sorry I mean and for what's the problem is that libate because uh um other operations or other funds are approached together in operations are executed and matched so um the bottles phase or reduce the second significantly a little bit about how the vaults are constructed uh are they built in a decentralized way when they can only activate in certain scenarios or are there trust assumptions associated with the vaults

well it's a pure decentralized so um when the row of responding to MTN team um is to create such a smart contract everything is in smart contracts but um the team has no way to touch the files um all the operations a lot of risk management operations um on the rules are written in a smart contracts no one can change it um and also the funds is only concerned about the user like uh I mean a lot of a lot of us you use in in let's say in year it's the same it's all purely decentralized

are the contracts upgradable or are they immutable they um they were upgradable yeah and if you have an audit history where can users go to find uh and read through those if they do exist yeah absolutely um origin is super important for us I mean we um you do a lot of when I can actually internally and externally uh because you know um security has to understand the highest in our priority list because uh we don't want to wish that a team has

um been describing for a lot of time to be ruined by a single um single security file so that happened a lot of time um if we have a look at a um Finance wow fantastic political unfortunately I mean it's a this is a protocol um that's not a too shy but uh you know it's uh ruined by a single security College and for that reasons um we actually are pretty selected in audience uh for the time being we um we have pretty close working relationship with uh Paladin which which is a pretty much we work here together for a long time with no their capability yeah

um I mean you know effort uh in the security auditing um on the other hand we also do internal cross checks so for different um part of dsmr contracts uh we got a different team writing it and then after um it's been uh casted we uh do uh cross check internally across different team um internally and also we do external cross check like uh um other uh partners for for instance um yeah I forgot a name sorry um other other protocols we are working together they also do external um Security check for us we also do that for them to make sure well we don't find

any problems there so that's that's how we do the auditing and make sure it's secure awesome and this is uh they can be read on the website you said right in detail awesome yeah [Music] so you mentioned uh uh they have some more complex vaults for Steve uh nelia Arbitrage uh across uh different types of protocols such as Ave V2 of av3 compound Morpho if artery is currently available on Ave and Morpho

with compound a potential in the near future is that something that would be able to be integrated into the vault yeah well um actually it's been it's already integrated at one of our vaults uh for an s2e I have to say because um sde is everywhere it's in the autosum Auto's bathrooms so when RF is um Also let's say on the compound we'll go we'll get a um the same structure implemented and the same verticals integrated in its really well so and the reason

um we integrate a multiple nanopotocles um compound rb2 mbv3 metamorpho uh into one strategy about I mean namely um recursive looping strategy for uh nosd is that um we allow um the files to be dynamically um reallocated across different Landing protocols to optimize the apy say if at the moment we found out a while in the past couple of days um the uh I think we're losing you

I am dynamically um well switch the position or part of the position um into compound this is the way we try to yeah cutting out for me too I think uh what he was explaining was that the borrow rates can vary across the different protocols uh so you might be able to squeeze out more value if you uh dynamically alter your positioning across them which is very clever and will definitely maximize APR potential

for the fault depositors oh we just lost in my I believe he's trying to disconnect and see let's see can you hear us yes yes we can hear you now yeah uh yeah so uh dynamically adjusting your your uh you're borrowing across different protocols based on the cost uh purely reasonable and economical to maximize

APR IL yep that's being tension I see uh that you have in a can ambassador program is there anything you want to talk about this ambassador program yeah um ambassador program is a crucial part of our community uh project so um the essence of ambassador program is to um motivated a participation of our communities members um in the operation and any operation of the project in terms of marketing

especially so we um design it and um a system uh where it is pretty um clearly stated um what kind of activities uh users can do and earn points and what points they could earn for those efforts that you have actually uh exerted it so um that's uh I mean uh it's quite complicated to be honest one of our team members has been a huge amount of time designing and it worked out we have a um that's a good system however we have we still have to um put an extra effort to I mean

um increase the impact about this program but it's uh running perfectly now that's great to hear and I encourage any of our community members who are interested to check that out now do you have any final yeah you want to say something no not really yeah I was gonna say do you have any final uh comments to leave for the rocky pool Community the Aries Vault and the kind protocol team is very attuned for uh squeezing the most APR you can on The Leverage taken for the time being and the decentralized tooling sounds like a great way to create an automatic arbitrage strategy if you are someone

who is a bit higher in size and can handle the gas fees yeah yeah exactly so um what uh I mean as I mentioned before um Kian um is sort of unique by providing a two different types of services um automation tools and you want to extend it up to um further extent so that a user could uh I mean a fantastic new strategy but we also realized data um most of the users are either I mean are reluctant to you with their own

strategy other because it's uh I mean takes a lot of effort to do that or uh it requires a lot of understanding and expertise in D5 to be able to do that so we um that's one of the reason we switch our Focus also to uh uh I mean the strategy about which is pretty easy for user to access and just really rather we uh um one thing I want to um emphasize is that well the Australian model Frameworks were appeared in the is sort of now next Generation strategy about if we compare the architecture of the web to let's say uh the conventional ones provided by uh Ian or beefy so and from our perspectives there might be

three things that will be key to uh experience about in the future oh first Advanced automation so I mean it's um pretty easy to um I mean the positive user response into one of the uh pools uh that's a one beefy and uh you're gonna do mostly and I do not see that's going to be a sustainable mode in the future so Advanced automation um is gonna differentiate the um without the protocol and because you know um especially in in a pair um you gotta make things running more efficiently and you're gonna need a more

advanced strategy to um generate a better apy in a secure way so uh um decentralized Advanced decentralized automation is a key to realize that and second um I think akian is on its way to um I mean create its own leveraging Capital pool um one of the reasons is that we are I mean Kian has uh um a lot of the times he has been um the growth of Kian is impeded by the uh Supply cap uh imposed by Abbey say uh for estimatic or uh wst lyric Jews and sometimes R is um V3 so

um when the supply there was no new room in a supply cap well we can the strategy cannot cannot accommodate new files and in order to circumvent that one of the things that we are doing is to extend the strategy um framework with the average Capital pool and the third thing I think um the Next Generation model framework of nature Implement is a risk classification um I mean the risk classification within about for instance and the legislative strategy let's take it as an example um leverage taking strategy or recursive looping strategy will require it is

um sort of a positive or neutral but it's not a pure data neutral um Whenever there is a a depacking events well uh temporarily there is a lost elephant but in most of the cases it will go back pretty soon but if we're somebody whales and institutions especially um they seek I mean pure data neutral strategy so um in this strategy model what we could do is to I mean provide a two different level of um guaranteed users the users who doesn't want any um risks in this they could say uh well they have a priority when you want to

exit a position um but they have to sacrifice a part of their apy but for users who understand you know essay better they have sufficient confidence that uh well uh jpegging is not a possible um it's not sustainable so they could enjoy higher apy and um also they have to take a higher risks so the risk of classification might also be an important element in the Next Generation about the strategy about so that's uh that's uh uh about the Battle we're working now and the other thing that I hardly want to mention is um defocus on Ken has on lsds a cipheral um their strategies the automation tools

we've provided so Kian is actually also working on um actually we're at the edge of releasing a tax that Dax is highly Optimizer for lsds because um in the past couple of months we realized that at the existing um am uh structure is not really ideal for LSD trading LSD is I mean two different it could be a stake um it has it is a phenomenal price so um we um devised us such a um Optimizer Dax to increase the capital efficiency of LPS multiple times um with tailored optimization I think

um this could also contribute to the liquidity growth of our eth in the future so uh that's uh that was very interesting yeah and um aside from that we are also building a pretty strong distribution Network um like many of the um and I mean atop institutions uh crypto platforms centralized ones especially like major sports okay X and a bunch of top wallets trust water The Ledger so you're uh integrating Kiev and mentions what is the first one for footage integrated keyn and we expect a lot of volume you know we'll flow into Kia's

flaws and strategy automation strategy uh tools um in a month still come I hope that also contributed to you with the growth of um or the rocket Accord so yeah that's what I want to say thanks Jasper yeah that was uh incredible talk uh a lot ton of alpha there in the future of cayenne uh very excited to see what amm designs you guys have cooking to increase the capital efficiency uh and amm design is a particular interest of mine for the uh incentive management committee uh where we decide where RPL inflation sentiment go to maximize

liquidity depth and to and enable optimal trading also definitely love what you guys are doing with the risk factor is on vaults uh tons of these strategies do not clearly indicate risks to the users for example not to pick on index Co-op but their index Co-op token uh during the three arrows collapse so it costs a lot of people money who didn't understand the risk so yeah tons of great stuff coming out of cayenne protocol and if people are interested where can they learn more about you guys key answer yeah yeah

yeah thanks Jasper um yeah well um you're pretty welcome to um I mean find us in our Discord um community and also in our Trader that's a pretty simple to search Kian and I mean the last point I probably want to want to express is can's potential success actually roots in a country its contribution to the growth of um ecosystem of its LST Partners I mean rocket pool especially in the ethereum ecosystem as well as um the impact of KM could have in the uh its Partners to ecosystem so I think it makes a lot of sense for reputable community members to keep an eye on the

kids programs because we are I mean um trying to I mean uh so approach the growth of Rocket pool Banks thank you guys uh yeah great conversation and uh Kian is a great opportunity for our wreath holders to expand their DFI access make sure you check out their Twitter and website to learn more about key and protocol for the second half of today's call we will be Switching gears and focusing on the rocket pool bi-weekly update uh the folks from Kian are welcome to stick around while we talk about our Rocky pool uh but yeah as we shift gears uh will we be joined by Darren MAV or or is it just

going to be us to Duke in it out over these Integrations and updates I've sent him a permission to speak so oh no here he is hello everybody good to hear from you so we are now going to jump into the rocketpool portion of today's call rockpool has had a stupendous amount of growth recently continuing from Atlas uh onward uh this past week has seen a bit of a Slowdown in the rate of our youth growth but we still have seen several

days uh consistently over a thousand each per day in deposits last week we were the second largest pool operator in terms of East deposits right after lydo surpassing both coinbase and binance in terms of net deposits so how are you feeling like it's about uh rocketpool's recent growth yeah it's been amazing and um today I I was I think it was over the weekend um there wasn't as many kind of um deposits um that kind of came in and I was like oh okay things have things have kind of slowed down a little bit and then I think I think I think but I think we had like a uh we had like a massive massive couple of deposits um and it was

all it was all back on again so um no it doesn't it doesn't it doesn't seem to be it is definitely um kind of slowing down um but it's um we're still growing at a a very good rate so um and we I think I think also um uh the kind of like the bearishness is is kind of kicking in a little bit but also um I think the whole kind of validators being stuck in the queue that's causing um probably a little bit of a slow down there but um once that kind of once that kind of works its way through um uh it'll be a kind of a lot better um that's not necessarily a bad thing they're like the it's kind of like a

natural product breaking mechanism but um maybe it'll be good once a lot of our validators hit the beacon chain that's right approximately between 25 and one-third of our validators are currently stuck in the queue which is having a huge effect on our RF APR have you taken a look at uh invises already APR bot in the Discord it actually shows you what the expected APR would be if all our uh mini poles were dequeued and our Reef would be just over four percent and it's currently around three percent which is pretty wild

yeah I haven't seen that I've just been seeing it on the website because we've been doing a little bit of work on the website so I've definitely I've been seeing that that number that dip um and now now it's kind of coming back up again which is good um but yeah I know I'll check out I'll check out in business but actually that'll be good yeah and it would be above the current uh eth borrow rate which means that uh had if aritha wasn't at so cute it would be it profitable to leverage take it and Ave which is uh just unfortunate to think about but also goes well for the future it does and it kind of speaks to the the size of the growth that we've had it's

just been insane the fact the fact that kind of like you know up to a third of all of our validators are in in the in that queue uh is is uh is is pretty amazing so despite the recent version protocol is continuing to grow quite expediently so in terms of the supporting them version 1.9.6 was released uh as an Arsenal update uh it has some noteworthy improvements uh and it's Pro Provide support for the new Geth and Netherland releases anything notable or worth mentioning here I think with this one this one was

um I this was quite big for nevermind I think um uh I think uh so we get um I I I'm pretty sure pebble is Now default um so so that's that's good that's quite good um so pebble is their new kind of like database um that gets using uh it's kind of better supported and and there's some uh kind of improvements there um that's excuse me um never mind I think was quite a big one because um I believe there was there's um quite a dramatic reduction in kind of like disk space um uh usage and and uh I think they've done a lot of work in the previous release on memory so the memory was a lot better um uh I use content online so I was quite quite pleased

um so uh RAM was Ram was improved and now this round uh the disk space was improved um that requires a resting yeah it requires a rethink um but it's um it's much much better so so yeah nevermind is really coming uh coming along as as kind of a um as a very good execution client and um I definitely recommend it I'm reading about a fresh sync required 523 gigs which is uh sounds really good and it's surprisingly low yeah no it is it is good and when you resync uh your CPU goes absolutely crazy but um uh because it it really does seem

never mind really does sink quite fast um uh and uh and it really hammers this kind of the CPU but it's um yeah no it is good it's it's a it's a good client so and somewhat related client news wreath or our namesake has just been launched as a competitive a competing execution client uh yeah is it you was it you or is it um the intern that said uh the second best the second best reasons that was a good one yeah but I'm assuming Rocky pool will soon

add reefs for it once a wreath is uh made it to midnight it's currently still in its Alpha form uh wreath did have some history as it was born from the akula project which is then taken over by Paradigm however client diversity is a major goal and it is generally quite important so getting a rust client would provide some pretty cool benefits uh I recall them saying that archive node synced in just uh two days for example uh oh I haven't dug into it yet um I'm definitely very I'm definitely interested to kind of play around with

it yeah uh hoping we get our rockpool support for that uh as soon as they get the two minute yeah we have to kind of get there's a there's a we we kind of have to let it get some um I mean we often what we've done is put it into like an experimental um thing where we put it on predator for quite for a while um so you can you can select it if you if you if you're on Prater um and then uh once once it's kind of gotten a bit of I guess I've used this phrase too often but the kind of Lindy effect um once once uh you know

um it's it's built up enough kind of experience um on mainnet then and we can we can throw it into the actual uh main net part but um yeah everything that we can do to promote uh execution diversity is is really important I feel like just a less than a year ago we were looking at Geth with a 90 execution client majority and now it's dropped so far and part of the reason for that is a huge movement within the Rock and pull Community itself towards uh execution client diversity so just big shout out towards schifrin Dr doofus lady anywhere else uh contributed towards the RPL

client diversity website yeah that was fantastic um initiative um from the community and I think it kind of goes to show that uh you know and our node operators really care about the future of ethereum um and they're not just willing to kind of do it themselves but they're willing to kind of like promote that and um and kind of you know help the whole ecosystem kind of move forward which is fantastic so moving on to r d oh there's an ongoing uh design process for on-chain p-downloading uh can you talk a little bit about this because I

believe this is a system that would not even use Aragon it would be its own system can elaborate yeah so actually so we bounced around so we bounced around a lot actually um it's been quite fun um because we've been doing having a lot of design and talk at the moment but um in terms of the paid out stuff um so so uh Kane is still kind of uh um nailing down um parts of parts of it so but we've kind of bounced around a little bit there so there is a standard there's always a couple of Standards actually um in terms of governance

um and so we're trying to incorporate as many of the actual standards as we can um the the kind of funny thing that we're kind of having to kind of work through is um there are some like technical things that are specific to Rocket pool that mean that we we might not be able to use all the standards as they are um and so that's why we're kind of like working through that at the moment but anyway so the overarching goal is to basically have a I have so at the moment the pedal um use Snapshot to as a signaling mechanism um to signal in you know intent to move forward with things so for example you

know upgrades and they signal that um they essentially they ratify um the fact that we should be upgrading or we should be having these kind of budget categories or we want to change these these um settings uh and so but it's really a signaling mechanism and not actually kind of on-chain execution uh the PDL voting mechanism it would be would basically give on-chain power to the pedal um so it'll allow the PDL to be able to vote and kind of execute um uh those changes um upgrades are different um but it's mainly around pedow there's

there are two things that it really um relates to the first one is settings and so there are some pedal settings and that the PDL can actually change and so those settings will be under the purview of the um of the pedal um then there is also kind of like budget categories and spending um and you know and that will be um under the purview of this this peed out on chain voting as well um there was uh it's one of the one of the things that may may not be under the PDL is um some of the stuff around kind of um deactivation of things so for example

uh turning off deposits um and that sort of thing so some of that stuff will probably be put under like a maybe a security Council or something where this all of this will be kind of in like our draft design which obviously will that go out to everybody for you know Community um feedback on and discourse on and all this sort of stuff um but that's what we're kind of working through at the moment is um uh the reason why this is going to suggest the Security Council is mainly around uh being able to execute those quite quickly if necessary and all that sort of stuff so but that we'll kind of lay that out um uh within the within the post so uh okay in terms of the progress on that

Kane is finishing off uh uh kind of like some of the ideas or the design around it and the options and then uh he's gonna and put out a post and then everyone can kind of like you know uh their two cents in and discuss it and co-develop it and all that sort of stuff great that is going to be a huge step forward in the process of the true decentralization of the Rockville protocol uh moving it on chain as much as we can and sort of making a row more robust system uh for all the procedures that are already happening like uh the pdas funding before we even get to things like the deposit pool so overall

fantastic to see that moving forward yeah I mean it's really exciting uh we're kind of looking forward to it um uh it kind of you know fills in that that area removes a bit of kind of trust from the team which is exactly kind of you know what we want as well um so uh so that it is definitely um uh yeah it's definitely exciting yeah the community has definitely been planning for this kind of thing for a while so win-win all around so moving on another big topic of conversation within training recently has been around a giga pools or megapools uh this idea that you can have a single mini pool contract uh for an

unbounded number of mini pools but that's also might not be doing the entire idea of Justice uh especially in my uh recent discussions around potentially increasing the effective uh Max balance from 60 from 32 to uh potentially much higher as well as other design potentials unlocked through Mega pools can you talk a little bit about how the team has just been looking at Mega pools broadly and also what is Omega pool so each of us has been basically using a different prefix some of us say Giga

some of them say mega one person says Maxi but nobody likes Maxi um uh so um so yeah at the moment yeah I know this feels wrong um so I think I think Mega pool is is kind of where we're going with it at the moment um so the idea there is so at the moment um every validator strike every validated that a a node operator spins up is a is a different smart contract so called a mini pool contract um and um so so every time you deposit a new eighties in this case or equal or 16 either if you're doing 16.

um uh it will create a new mini pool contract and we've tried to obviously optimize that that gas cost as well um to as much as possible um but we you know there is a cost for pretty much every validator that you spin up the other cost is on distribution of balances so um every time you want to um when you hit when your rewards come back to your mini pool contract um you then have to execute um a a transaction on each of your mini pools and to distribute those balances um if you've got kind of like one or two mini pause it's not it's not tragic um but if you've got kind of you know

hundreds um or even tens uh and hundreds um even five to be honest uh is it it gets expensive to kind of do that um and then you're on a kind of like not Distributing it as much so from a protocol perspective you know that atheism coming back um as as often as um it probably could be as well and to facilitate withdrawals and um so there's there's this kind of like protocol level reasons but then there's this massive uh you know benefit for node operators in the sense that it's first of all it's so much cheaper to spin up outside of going to gigapool that's right pickup Mega pools uh with Megapolis

um you instead of having like a individual mini pool per uh validator um essentially you have one Mega pool um that handles all of your validators now the reason we couldn't do that um before was because um there's this a number of technical reasons but the the main one is we can't really tell the difference between a um like a full draw and a um and a partial withdrawal if uh we've kind of all thrown them all into one thing so but with four seven eight eight um which is so erp4788 which is this

Beacon State Route stuff uh that becomes a part we we actually can tell the difference between them and we can we can do some interesting stuff with that so uh so that that kind of enables this functionality um it means that we can have one contract that handles all of the validators um which obviously means that spinning up a new validator is going to cost um it's going to be so much cheaper uh the other thing is Distributing is one call or one contract so that's going to be a lot cheaper um and so yeah so that it's going to be uh so from a node operative perspective it's going to be much much more cost

efficient uh from a protocol perspective it means that we're um much much more efficient and and so that's it's definitely a kind of a good a good win you know from a design perspective the the thing that really comes to mind to me is the idea of a of a broader credit basis uh if all the mini pools are now getting associated with one sort of account um we sort of expand our sort of slashable basis too right like uh if a user has a hundred mini pools now under one contract and they are someone who is Crafty enough to

to theoretically want to steal Mev uh do we now potentially have a new kind of lever in resisting Mev for a larger node operators because we now have a disability to concretely connect different validators yeah possibly um I haven't I haven't kind of Lent or gone in that direction in terms of in terms of that um but uh it does because it means that it's much more at the node level at that point right obviously obviously we kind of have to support both models uh in the

short term um uh but I again but like like with a lot of things once you have like an advancement um there is actually a very um there's there's kind of like a motivation to take up their advancement so um and then like from the smart notes perspective we probably we won't support the old way or just support the new way so you know more people will be using uh Mega pools than than the other way so um but yeah that is something definitely something we can look into um and and uh it's particularly in terms of our kind of designs but in the design space for um like the particularly the the execution layer kind of penalty kind of

system stuff um that is that is kind of one thing that we can look at and it'll be a pretty cool I think there's just a huge design space that ends up potentially opening up here uh especially if you want to start considering less if bonded pools uh down to four or below once you have a very large credit account or almost like a social reputation score at that point uh yeah tons of interesting things that we could talk endlessly about just on gigapools but we should probably move on as there's other stuff in the bi-weekly uh Nate one thing uh that's also very important in the uh hardening of protocol is the odao and reducing the oda's duties and uh trying

to find ways to reduce trust aware possible uh this was a large theme within the charter I'm curious how the ongoing analysis is yeah so so we've actually been working very very closely with Nashua so not sure um obviously got a grant from the um the GMC to do and submit analysis and kind of design work on uh the the current Odell duties and how we can kind of like make them more trustless um or or more trustless or get rid of them completely um is is kind of like

the thing um or get rid of the get rid of the Odell's involvement in it so there's a few there's a few different kind of you know aspects to it but mainly so you know can we can we remove those Odell duties so that uh they no longer need to be done by the Odell which relies on like an honesty assumption now it's I mean it's quite a strong honesty assumption because they are uh what is it uh are we up to 18 is it 18. um yeah yeah eight 18 kind of um very high profile ethereum uh sort of uh organization and personalities um so you know they they are very public figures um and so the the the honesty

assumption is very high um but it still relies on it still relies on trust rather than being kind of completely trustless so you know can we can we make it trustless and thus it that no longer needs to be done by that body um it can actually be done by node operators or you know some other kind of like party um so that's what that's what kind of um oh I won't speak too much about the nursery stuff because he's gonna um or they are gonna they're gonna put that out there um but um they've gone into you know a lot of detail um and uh and come up with designs we've been working with Nashua um on just kind of providing feedback

and on that um and now we're kind of like working together in terms of okay co-development sort of thing and to translate that into uh what we would do from a protocol perspective so um so Kane's been doing a lot of kind of like prototyping and little elements of it um and um and kind of refining the design a little bit to see where that would go and um and it's looking really really positive um like the the last few weeks with the with the pedal stuff the the Giga Mega Maxi Paul um and the and the Odell Duty stuff it's been quite fun um and again we've been kind of

referring back to members of the community um kind of on this stuff along the way um and we'll put out more information um so that people can engage with it um as we as kind of you know things get a little bit more not concrete but certainly you know better drafted um so that we can kind of talk about it it seems like you know how we're currently in V2 of rocketpool so to speak with uh the launch of uh Atlas it sounds like V3 is starting to find the the the skeleton upon which we will actually end up creating the next upgrade with uh so that's pretty exciting and uh it is yeah it is and with the with the PDL and

the Odell stuff that's definitely hardening from a decentralization perspective the um mega pool stuff that kind of gives us you know efficiency and again probably adds to scalability a bit there as well um so yeah it's it's looking it's looking very very good um I'm at the point now where we're kind of putting together you know roughly kind of what Horizons we've got so you know um that's not it's not quite release uh planning yet but I've kind of got an idea about you know what comes first and that sort of thing again um there's a few elements of the design stuff that will want to kind of nail down before I can be sure of what that critical path looks like

um and so so I want to nail those down before I start them putting you know more information out there about this but um we've kind of got an idea about the horizons um a lot of a lot of the stuff that we are going to put out all the really exciting stuff um is post Cancun so um obviously we'll be doing a lot of development work um uh before you know Cancun um but we can't we wouldn't be able to release it until after Cancun because it relies heavily on 4788 and you know pretty much everything that we're building or that we're looking at all the exciting stuff apart from the sorry the PDL voting stuff can be done before um but like the Odell stuff and the mega

pool that relies on 4788 so that's after kind of Cancun um so we we're kind of we're kind of looking at those sorts of Horizons and seeing what we're going you know before going after um there's a lot that can go in after so that may actually end up being several kind of uh releases but um yeah it's really exciting I mean looking at the stuff that we've got um and obviously all of this stuff the roadmap and has been kind of like discussed with the community in terms of the priorities and the priority was basically pedal and Odell um and and kind of some efficiency improvements so that's essentially what we're kind of going through in scoping

out uh yeah I think it's a perfect reflection of what the community has been asking for and uh what the the broader community that has desired with uh Cancun that is the next upgrade that's including tank sharding or is that the one after getting charted uh I think the one with tank shotting awesome so that's potentially uh a next year uh timeline probably hopefully q1 who knows though yeah I haven't I haven't caught up I haven't caught up with it I believe that they they originally said it was come out maybe by the end of the year but I'm not quite sure yeah it's more it's more likely to be beginning of next year

they always start a little ahead of themselves so moving on uh uh the knee content continues to roll on in the background any updates there oh sorry I missed that paper what was that sorry uh the the website continues to be worked on in the background right yep yes uh so yes um so uh there are two elements that we're working on for that so that the whole structure of the website is is done and a lot of the like initial content is kind of in uh I'm going through at the moment and just reviewing um the content we kind of dragged our heels little dicks we had to kind of like bounce with different priorities

um but we're kind of like back on that in Earnest now um so the we're going I'm going through the content now and just upgrading some of the content uh and we are starting to work on like imagery and that sort of thing so uh so that that is kind of um kind of coming through and coming through now great and then this is one that uh I believe we just discussed a couple times ago uh Ledger they we were in the midst of integrating with Ledger and I believe they were stuck on the auditing process uh is that where we still stand yeah so we had to kind of like book in

audits so um so Ledger LED you don't do the audits themselves they do like a like a a very brief kind of like code review um thing um but they actually get like a third party to kind of do like a security and um it's it's basically like a third party uh this does what we think it should do sort of sort of audit um so it's basically a transparency and and security audit um so we had to kind of like book that in uh that's booked in and technically we kicked it off this this week so the speaker last week not sure time five um but uh we we could technically we kicked it off

um uh actually it was this week um but they won't actually start auditing until kind of like beginning of July um so it'll actually be kind of mid to late um July and before we we can kind of um apparently once once it's audited from on The Ledger side it's quite quick so hopefully kind of mid to late July and we'll have the the kind of Ledger um sort of integration in you know by that time hopefully the validator queue will have cropped off uh pretty substantially and we can see uh a pretty large amount of Aria capacity in the protocol so maybe that works out yeah that'd be good pretty well

yeah time timing my Dynamic is too bad it's a smart node version 1.10 is uh continuing the background do you know if Joe has any big surprises up his sleeve for that one I think he's he's um I he keeps calling it The the cursed um release but um but only only because only because of like client client stuff type client testing and that sort of thing um so uh so no he's yeah he's working uh he's working very very hard at the

moment uh on kind of on getting like the client support as actually is that is that the next one before that um I can't remember and I'm trying to remember what the um how he's put the the stuff in but I know he's working on kind of like rolling tree gen and that sort of thing which um uh which is a much later thing but that's that's going to be very very exciting um uh for kind of like the process of generating that RPO rewards tree um So currently it takes you know quite a few hours to to kind of generate that um although for the rocket scientists it seems to it seems to happen almost instantaneously um

it's quite funny um uh so yeah and actually we've been incorporating those improvements uh into into that process as well but the the rolling the rolling region is going to be fantastic because it means that that it'll it'll happen pretty much you know straight away so uh so we won't have to wait the hours um with that but that's that's a big that's a big release for the smart node so um we're going to be doing a lot of testing to make sure that that's okay um because that touches quite a lot of things so um we'll run that on predo um quite a bit before um it kind of goes out Joel also posted a RPL is uh uh tree gen calculation update I believe yes V6

award Street yeah so yeah tons of work a big shout out to Joe in the background yeah and and everyone he's been working with to be honest because uh so Joe doesn't work in a in you know in The Silo on this um anymore um uh that used to be the case but not not really anymore oh actually it's probably never been the case to be honest um the he's actually working with uh kind of patches and uh and Romano at the moment I think Romano's writing uh kind of uh uh their uh I can probably say his his kind of um uh version of that as well

um and so yeah there's a lot of kind of work behind the scenes to make sure a the spec is as rock solid as possible and the less ambiguity as possible um but also to make sure that the you know there's multiple implementations of it so that it kind of flushes out um you know any of those um uh issues that we that we that we don't want to see kind of happen so it really does battle Harden the the the spec and the process which is amazing one of the uh pitfalls or not doing what we are doing with the multiple implementations is what the fell uh ovado recently or it wasn't about it was

a uh the other one that recently onboarded us or it might have been yeah that mode yes definitely yeah uh I don't know if you're watching along in support or if flash has filled you in but uh their implementation seemed to have a few gaps and uh some node operators who were using dap node uh almost got themselves dissolved but uh thanks to Patches and and the others who were there to follow along and help out uh it seems everyone was mostly all right yeah I mean yeah they should be on Prater

[Laughter] um but yes yeah well the yeah that's that's fantastic that we've managed to kind of like hit that off big shout out to the sports channel for uh jumping on top of that and helping guide uh what was unfortunate situation moving on to governance uh big big big shout out to valdor for the full functional draft of uh the odow charters of the various implementations that we could look at uh and including a sentiment poll to indicate which one of the the polls oh sorry of the draft to

support I believe or it is a poll to indicate as is or if not yes it is as is or uh uh is not suitable type pull for the the current draft this charger is really thorough and outlines uh the path forward for reducing the Oda inflation as well as outlining core principles for the charter uh so this Charter has been available for a little while now but if you haven't voted in the sentiment poll I do highly encourage you to do that yeah definitely definitely look at that um way kind of ahead of time obviously

that will also go up for vote and all that sort of thing uh both across the pedal and Odell as well um so just yeah make sure that you kind of you know take a read um through that and before it kind of comes up to vote um but yeah no it's good it's been uh it's definitely been a process and bowed off as being working extremely um hard on uh on that um uh particularly kind of uh it's not the easiest of thing to write so um he's done a very very good job yeah it is a fantastic uh almost constitutional document in the GMC world uh schifrin has had to

step down but for good cause uh shipping has transitioned into the GMC administrator who will hopefully be providing some uh some significant significant structure and accountability to the GMC which is a rather large committee as is essentially attached to be the employer of the protocol so good luck to shiffrin uh I hope that they accomplish the best yeah there's a lot kind of on the the GM GMC's um shoulders um and it does take a lot of uh there's there's a lot of

administration coordination uh and that sort of thing in terms of just not not just managing because you've kind of got both sides you've got the the members themselves and but mainly you've got like all of the people who kind of like submit um proposals and that sort of thing and trying to um kind of arrange those and work those through and the committee is is definitely a big job so um it's it's uh it's kind of a well-needed position so the other major committee we have IMC has recently been tasked with a proposal from polygon the polygon teams uh outlined a path for integrating our eth

into the polygon ZK evm ecosystem starting with liquidity incentives on a base pool and then gradually building leverage uh and stable coins on top of that it was a fairly thorough proposal and uh in support of rocketball the polygon team also uh of their own accord decided to spend fifty thousand uh usdc on liquidity incentives on the balancer Reef pool so if you have some or you can want to experiment with zkevm that there is already a destination to earn some yield there uh before the IMC has uh even

decided to weigh in on this proposal you're getting to expand onto these uh new types of l2s it's pretty cool uh arith being as simple as it is makes it easy to do this kind of exploration so yeah keep your eyes out on arith Cross chain this transitions nicely into the world of Integrations uh the flavor of this week is definitely stable coin collateral as there have just been a huge list of these that have enabled our wreath as collateral

including vendor Finance new on lucid and raft is currently at proposal stage uh I believe Prisma is also in the governance or recently launched RH support and the Libra announced audio support in the next version of their protocol so uh across the ecosystem these lsd5 protocols have been exploding uh with a number of them being based on stable coins so Darren where you see Aries in the future of these stable coins uh one of the imc's recent concerns has been

the uh the incredible growth and leverage uh do you think this is at all concerning um yes oh okay so there's a few different those there probably is a few different things to unpack um uh so it is it is really great to see kind of innovation with uh with the good staking tokens um I think that's that's that's a really good thing I think everyone should do their own research uh um uh when they're kind of getting involved um within different protocols um I think leverage in general is something that the whole ecosystem has to be kind of very very aware of

um because it's it's probably the one of the biggest um yeah it causes a lot of shock uh when it when it goes wrong so um it is definitely something that the whole ecosystem needs to kind of be aware of in terms of that you know I was reading through Lido governance forum and as one does of course uh from there sort of like uh equivalent to our IMC and it outlined that they want to gradually reduce liquidity incentives that are ldo denominated and importantly that their protocol does not want to put

the bill for leverage staking and potential uh defects that can occur essentially a lighter doesn't want to put the bill of maintaining billions of liquidity just because people want to go leverage stake uh it is currently an unclear question like uh what the role of the liquid sticking protocol should be how of course it would be irresponsible to incentivize leverage but how actively do we disincentivize leverages also of the question we're currently not uh super super crazy levels but it is starting to get there

yeah yeah it's very it's very difficult because um at a protocol level we can't really do anything because uh well one of the you know guiding principles is permissionlessness um but we look back from uh but certainly from an incentive perspective uh perspective you know that is something that we we can control to some to some to some degree um at least um so uh yeah and I think so I've probably been slightly naive in the sense that um you know I think it's kind of beholden on debt markets to to risk manage um but from the dawn of time um dead markets haven't necessarily uh

been very good at around risk management and I think maybe maybe there's a and this is off just off the top of my head but maybe there is like this incentive imbalance because you know a debt Market wants to grow um and to grow it needs kind of like loose risk management but but it also needs to maintain risk management so that things don't blow up and and they don't get bad debt so it's like this really a kind of you're on like the you're on an on a you know a pin no head yeah you're on this Nexus of between between uh kind of not growing fast enough and and falling off completely so I think

yeah so maybe maybe that is maybe that is just something that kind of is natural to debt markets um and that maybe there's something there in terms of the future debt markets that people will create uh to to balance out those incentives yeah I hope so um and debt markets are certainly one of the most experimented places within crypto so uh maybe we figure it out one day yeah I mean this I mean I think a lot of them um kind of do that hold the whole trunch um thing um to kind of like uh um what is it to to kind of seal off um you know the levels of kind of risk isolated markets yeah isolated markets

and that sort of stuff and but yeah so that would be interesting to see how that goes one of the ones that I really liked was the mice of Finance Oracle free liquidation free type of Leverage uh wherein the users pre-agree to uh the the end value of the the token so you're pretty immune for any flash crash events in uh as long as you're willing to accept that the tokens you receive on X day will be of a certain amount uh and you are just have natural confidence that uh rocketful one second sorry I had to let my dog out there uh

yeah so without the Oracle risk you just if you get one already at the end you are fairly confident that that re can be converted to eat through Rock and pull at some point so yeah dead work is continued to evolve metamask announced support for bridging re from maina to arbitrum and optimism this continues our metamask support for enabling our eth in their ecosystem metamask uh previously enabled arith minting from inside the app which has been pretty huge for enabling flows yeah we have a very we have a very good

relationship with kind of like the metamask team and we we could kind of talk to them so um it's it's a it's a good kind of relationship that we build up um and we're kind of building up these relationships now with a lot of the kind of wallets um and uh so that that that's kind of probably that's our that's definitely our next wave of of Integrations and um I guess probably you know distributional growth um is going to come from that area as well yeah it's very natural that now that we've sort of built the the infrastructure we need to find the people to populate it and the best way to do that is the the door-to-door sales marketing of crypto World wallets uh so

yeah looking forward to that the IMC has been working with Kronos to incentivize liquidity on arbitrum Kronos is a solidly fork that has some modifications but they were generous enough to give us a ve nft to bribe with so uh you can earn some yield on the re pool uh on Arbitron with Chronos additionally on arbitrum uh Pendle has been a source of great revenue for re Pendle is one of the largest LST Phi or else D5 protocols which focuses on fixed income versions of protocols and essentially

allows for interest rate swaps so they've had a huge amount of TBL growth and I believe are the biggest single holders of already on arbitrum is it yeah yeah they they pass balancer on Arboretum and uh the Beats work there too pen pie is a protocol built on top of Pendle uh that is also now supporting our youth uh panpai I believe is sort of like a convex to curve uh an in the Pendle ecosystem so uh pretty cool that they are building their own little

ecosystem there Pendle did a uh Twitter space with us uh months and months ago so maybe it's time for a round two with Kendall index Co-op has been pretty active in the community talking about their new icy Arif token uh they are looking for people who are interested in this which is a single package leveraged position using Ave and morphle finance the token has past vote the vote and is expected to launch but they are looking for initial token backers so if you are looking or if you are interested in a

passive uh leverage staking product reach out to index Co-op foreign was our guest today and they now support arith in their recursive yield Optimizer strategy uh of course with they told us all about how this strategy is built on top of Ave and potentially you can also use uh Cayenne for their automation tools which could enable you to do automatic Arbitrage if allreath depegs either to the positive side or to the negative side lastly in our integration section Morpho

enabled aryuka's collateral this has then been put into the back ends of index as well as defy saver and other protocols that tend to use Ave leverage staking unfortunately morphos peer-to-peer pool is drained meaning that our each leverage staking is currently unprofitable on Morpho or Ave but yeah what a what a what a huge list of Integrations it seems like every couple weeks is just up and up and up yeah it doesn't it doesn't stop does it um uh and uh yeah so and that that's kind of

um fitting um we will have kind of like an ecosystem person starting on the rockable team uh very soon um and so they'll kind of be supporting uh myself and and nav in that kind of area um in terms of Integrations and uh Outreach and all of that sort of stuff when did we officially get to meet them uh surprise it's going to be a surprise classic uh well I hope they'll be dropping a show your video soon after they join

I can't I can't promise that I don't throw them in it but um uh maybe I don't know no we won't bully them into it in trading so uh media and marketing um it has been a busy week for the team in terms of call thank you um obviously we do uh we Twitter spaces so last week it was just uh you and I Jesper chatting about some of um he's uh Integrations and marketing

developments and then yeah it was a midweek update but it was about like a full week's worth of a full two weeks worth yeah exactly and then um what seems a very long time ago was a symmetry Finance as a guest and we still have six or so uh calls and panels listed in the event section of Discord so um make sure you head on to them and support rocketpool some of the other great support that we've had recently on the media mapping space was from Masari so uh in a recent Twitter thread they

ranked rocketpool as the only liquid second protocol to have uh High confidence in Lindy D5 utility and decentralization so good to see um that you know external third parties are objectively um yeah supporting rocketball in that way I think right people really has entrenched its brand as the leading decentralized seeking token even among the big players yeah yeah for sure it's great to see and then um you were on a podcast too recently I think we may have mentioned that this was being recorded on a previous Twitter space but now it's

available for everyone to tune into and listen to is that right yeah so the strange water podcast with aim crypto he's a big threat or uh and gray guy all around we talked about uh rocket pool my journey into it uh sort of how rocket pool is like the iceberg meme where you start with something like simple like Reef but then you just deeper and deeper and just get some more and more complicated uh and it seems never ending uh we we talked a bit about uh you know things as wide as Buddhism to uh utilitarianism uh it was overall overall a wonderful podcast and I would

recommend it and that was and then I also spoke with uh Kronos for an AMA over on their Discord uh which was a great time we generally talked about the nature of staking on ethereum uh on a more metaphorical scale uh or a grander picture and talked about the proof of work versus proof of stake and uh the importance of decentralized staking language was on a uh was a panel or just a solo conversation with Maverick

protocol Maverick protocol being pretty popular for their novel low fee pool structure yeah I don't think that one was a panel but uh no it was just it was just us yeah good good uh protocol and I believe arith is on there uh just from the natural demand of users wanting to create our responsible protocols and have you then uh had a chat with compound uh the compound developer Community is that right yeah that was a pretty quick question and mayor Discord

somewhat of uh an introduction they have a uh I think it's like a weekly chat where they uh get updates from different protocols and in the ecosystem so I um ripped rocketpool there it was a bit of a late night one um so say for Langer's off the back of his uh Maverick protocol chat paracord who they were the same day but yeah we could see um potentially some integration of our into compound in the future I uh contact a few people and we do have the comp wheels so when we have a proposal ready we will be good to go so

uh looks good on that front awesome yeah thank you for that Jasper yeah so if the usual uh weekly listing of new sketchy Central exchanges that have listed RPL include big castle blue changely uh and yeah so always make sure to do your own research but uh RPL continues to expand seems if it was either um a good opportunity for many such cases it would be the amount of uh these interesting

quote unquote exchanges listing app yeah every every time I see this it just astonishes me that there are just more centralized exchanges out there I did not realize there were this many so uh moving on uh uh arith continues to dominate the headlines some days with its uh ability to lead the others in a number of events uh Aries on the back of a 2200 East deposit I believe ended up having the most mints in one day uh this past week and then in terms of protocol share or market share rockpool was the fastest glow at

growing uh protocol in the past six months and there's obviously a lot of different ways to measure Things based on it based on percentages and different time frames and I think for every protocol out there you'll be able to construct some version of events uh that looks at you favorably but there are certainly a few cases here um that's highlighted local pulse growth and as we kind of mention quite often in these spaces with a you know cues are full or empty that doesn't mean that nothing's happening there's usually a continual churn and as I think you said earlier in the call Jasper quite

regularly getting a thousand easy deposited per day oftentimes much more so great to see another thing that was awesome to see is that the work of Dr doofus and Co has enabled Aragon project to uh diversize some of their stake away from Steve and into Ari they were originally planning on staking all of their eth with slido but I've decided instead to put 20 I believe with Rocky pool so this is a big victory in terms of decentralization at the level of Dao's and this L1 L zero movement should continue hopefully we

can get more Dows to diversify their stake yeah and ideally diversify it further writers so at some point in the future there's um other highly decentralized Liquors taking tokens um you know there's potential there for for them to to pick up other positions too which would be great to see um instead of um kind of that uh mission of of decentralizing and diversifying solely falling on on rock and pull shoulders as it is today at least yeah it's an impossible burden as a rock pool just like a client can't do everything diversity is the end game and uh can't have diversity with only two

players and we'll be representing rocket pool at permissionless in August this September uh permissionlessness is a pretty big event I believe run by uh blockworks or banglas uh so that's a great milestone for Ken and I will be very jealous of anyone who gets the opportunity to check that out yeah Ken's going to do an amazing an amazing job um he's um he's kind of done presentations before and they've been they've been excellent so it's definitely one to kind

of watch or go along to if you're if you're actually there and that just about wraps things up for me unless you have anything to add now I think we're done I've already given my plug for the upcoming spaces and events so yeah another great call lots of uh things have happened in the past two weeks and are clearly being worked on for the future normally I would give my summary but my voice is starting to give out on me today uh and I will just highlight that

the discussion earlier today on the mega pool design odows and pedal hardening is uh just was just incredible so if you missed that I highly encourage you to go find the recording and go check that part out otherwise thank you for listening in today this has been a off time off face call but uh it's been incredibly bullish thank you all for listening and I'll see you next time thank you Jasper thank you everybody cheers guys see cheers