Rocket Pool details Redstone, ETHNewYork finalists - The Daily Gwei Refuel #395 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily great refuel warycap the latest news in the ethereum ecosystem i'm your host and this is on earth has the 29th of june 2022 alright everyone let's get into it so apologies for yesterday or for missing yesterday's episode unfortunately i'm still sick i've been sick for almost a couple of weeks now just a really stubborn cold and yesterday my throat was very sore and just talking hurt so i obviously couldn't do a refuel in that case but still put out a newsletter as you can see here the daily grade tv account i tweeted out the kind of link to my newsletter from yesterday uh but yeah uh glad to be back today as a fair bit to get through over the last couple days i'm going to be doing that uh but in in the future if i miss an

episode uh just randomly it's usually because of something like that and if you want an update you can just go to the discord channel i put in the announcements channel that i wasn't going to be able to do the refuel so if you're looking for basically what happened you can go in there and you'll be able to find the information just for future reference there but anyway on to the rest of the stuff that i'm going to get through today so just a heads up here that i have another uh kind of like twitter spaces happening as part of the merge series that i'm doing with ssv network and this one is with ben edgington who a lot of you will know as the creator author uh of um what's new in eth2 their newsletter there also uh works at consensus on the teku consensus layer

client and also is working on an uh a book covering kind of like eth2 and all the other upgrades coming with it there so i'm going to be interviewing him on the twitter spaces uh and you can kind of like check out the time here it's going to be on the first of july at 9 00 am utc you can do the conversion for me it's i think 8 or 9 p.m on on friday night for me uh but yeah depending where you are in the world obviously it'll be different time zone there and then i'm also earlier than that doing one with stani this was supposed to happen last week but there were scheduling issues so i'm still doing my interview with stani on twitter spaces and that one is before ben it's a day before i think at a slightly different time though but you

can go to the ssv network twitter kind of like handle here and scroll through and you'll be able to find when that's scheduled there and of course these will be recorded and i'll link the recordings in uh the discord channel as well when they're up there but yeah i'm looking forward to my chats with stani and and ben here i think it's cool because they're both like very different uh you know obviously stanie spends a lot of time building in defy whereas someone like ben spends a lot more time on the on the kind of like core protocol side of things so it's going to be interesting to get both of their views on the merge on ethereum generally and see what they have to say so looking forward to that and hopefully you you you guys are too all right so we have the grey glacier

hard fork uh which delays the difficulty bomb by two to three months scheduled to happen on at 3am pt on june 30th now it was said that it was scheduled for june 29th but i guess like that was kind of uh uh the rough estimate because of the fact that block times are getting longer due to the difficulty bomb so it's always hard to kind of like get the right estimation in that environment but 3am pt on june 30th is when it should happen around three i mean as i said it's hard to get the exact estimate here um and right now if you go to ethernodes.org you can kind of like check out uh who's upgraded i'll just bring that over here uh so we've got 62 of the network upgraded i've had a few people talk to me about this or ask about this and it's

like isn't this a concern no like this always happens people just forget to upgrade their nodes and then once they get kicked off the network they upgrade them and then all is well i think what really matters is the economically relevant nodes and what i mean by this is economically relevant nodes are things like infrastructure providers so for example an infurer or an alchemy uh or kind of like um in i guess like the consensus layer uh uh world um which is kind of like the beacon chain world it would be the staging service providers things like that uh exchanges rights uh just wallet services all that sort of stuff as long as they're kind of like upgraded uh it's it's you know it it's fine but again like the thing is is that this this actually goes into a deeper

conversation around how ethereum does its governance process the economically relevant no just because it's you know they're obviously very important within the network doesn't mean they have control over the network like this is this is just a difficulty bomb delay it's nothing else there's nothing controversial like no one's against this right um but if it was a proposal or if it was a network upgrade or a hard fork to change something on the network that people are against then these economically relevant nodes are basically in the minority and they're not going to change what software they're running unless that the whole community has come to an agreement on unless they they know that there's kind of like a consensus on it so it don't just take me saying the economically relevant nodes updating as being kind of like uh me implying that ethereum has like some centralization stuff around it

no what really kind of like determines it is if there's any kind of like contention and there's no contention around grey glacier because it's literally just a difficulty bomb delay for a couple of months or two to three months until we get to the merge hopefully uh and then you know we kind of continue on from that but you'll see this number basically update very quickly once the i guess network upgrade goes through uh because of the fact that people will just notice that they got kicked off the network and they'll update their nodes there but just a reminder to update your node if you haven't yet you have less than 24 hours at this point so definitely get that done all right so the uh finalists of the eth new york were announced by 8th global on twitter the other day so here are your

kind of like 10 finalists that you can kind of i guess go through the thread and see each of them and see what they've built and and everything like that i always love kind of like seeing these things you know some of them the thing is most of these things don't go on to become like the next big project but some of them do and there's been a lot of projects in ethereum that have been born out of these hackathons especially through eth global and that's why i always like paying attention to this sort of stuff and you know even if the the kind of like thing that was built doesn't go on to become a bigger product it can influence other products there are things from from these kind of projects that have been built that can influence other products to implement those features

they can influence other kind of like ideas and go on further from there and it also just gets more people involved with building on ethereum right like these people don't necessarily have to start their own project they can have this hackathon on their resume and have their project on their resume and then go to another existing kind of crypto company or ethereum company and say hey like i was a finalist at new york this is what i built you know this is what i can do blah blah and that obviously counts for a lot when going for a job so there's a lot of first and second order effects that come from from this and and it's not it doesn't mean anything if the project doesn't go on to kind of like become a bigger thing as i said most of them don't but it's really really good for

people who especially younger people who are trying to break into this industry for them to i guess kind of like get their foot in the door here so if that's something that you're interested in definitely check out more of i guess like the eighth global hackathons they do tons of them at her and as i said like it's really good to have it on your resume even if you just participated that's that's better than than nothing right but if you do make it to being a finalist that is looked upon very very highly uh by kind of our teams that are hiring out there so yeah definitely good to have but i'll link it in the youtube description and you can go kind of check out all the finalists here for yourself and see what they built all right so rocketpool's next release codenamed redstone is as they described

here an exciting new chapter in the rocker pool journey here so this is a big upgrade coming to rocker pool to get the i guess like rocker pool network ready for the merge now you can read i guess like this blog post here for all of the information about this what i like about rocketpool's blog posts when they kind of like do blog posts on their upgrades they're very detailed they don't skimp on the details sometimes you'll have projects that they put well a lot of the times you actually have projects that put out an update or put out a blog post and they'll just basically give you marketing spec they won't actually dive into any of the technical stuff whereas rocketpool doesn't do that they obviously there's some marketing speaking there's there always is but they do dive into the technical stuff they describe they're

thinking around it they describe kind of like what's changing what's happening and it gets me it personally gets me more excited than just reading the marketing fluff right so including this upgrade is a bunch of really cool features such as priority fee distribution so obviously post merge all of the unburnt fear revenue will now be going to validators instead of miners and this is not locked this is not uh limited by the fact that there's no withdrawals on the beacon chain yet you can actually access these funds so if you're earning fear of a new you can access that you can sell it you can kind of like add it to your eight stack you can restake it if you if you want right through rockapool obviously and and this is kind of like the redstone upgrade will bring this to to rocketpool here this feed distributor and i like

mechanism which is their answer to how to handle feed distribution within the rocketpool network there's a new reward system so node operators in the rocketpool protocol obviously are required to stake rpl as an insurance policy whenever a bunch of i guess upgrades coming to this reward system especially around gas efficiency as well which should help out these smaller stakers uh here here which is very very cool uh a smoothing pool uh which is an opt-in feature that will collectively pull the priority fees of every member opted into it this is a way to effectively eliminate the randomness associated with block proposals on the beacon change so just basically a fairer way to smooth out that fear of a new as part of the rocket pool network uh and a bunch of other features as well here so this will be hitting the roxton uh test net i think it's already

there we've deployed rocketpool drops and planted the redstone upgrade yes but which is being tested so it's already live on the ropes and test that if you want to get involved there with all the testing all the details are here and you can of course jump into their discord channel which as i've said before is one of the best out there definitely join the rockable community if you haven't yet if you're looking for a new home a new community that are basically all in on ethereum all in on on staking you you literally can't go anywhere else you have to go to rockapool right like that's just such an amazing community but definitely recommend you give this blog post to read because it's got all the details you need to know what's coming in the redstone upgrade i'm super excited for it uh i think that you know

rocketpool i mean i've said this so many times to you guys they're just just such an illegit team such a legit project has been have been building for so long they didn't just come at the top of the bull market to build something right they've been building since 2017 i believe um and you know i i think they're doing it in the right way and they've had to deal with a lot over the years but it's it's really awesome to see how close we are to basically what's in the merge happening and then withdrawals happening and then rocketpool can ba can kind of like take advantage of all that as well and we can keep spinning up more and more uh nodes so we can kind of i guess get dominance away from some of the other liquid staking providers such as lido for example so really awesome to

see this definitely go check it out i'll link it in the youtube description all right so speaking of each staking oyster from i think i did this last time where i mispronounced the name here but anyway he put out a kind of like update that uh they released a sharon v 0.7 update for the oberl network so this release coincides with the launch of their shiny new landing page which you can also check out here so just a refresher oval is a distributed validator network on ethereum they're building uh kind of like ways to do distributed validation across different kind of like staging service providers or on your own and you can kind of like find out how that all works and everything about that on the fresh new website here which i think looks really really cool i actually love a good new website especially when

it's updated to just have the information front and center as you can see here as i'm scrolling down immediately it's just showing how distributed validators kind of like work in a really easy kind of way and really easy and digestible way to understand here so definitely go check out the the new website but uh opel's another i guess project that i'm super excited about that's going to be more relevant post merge and obviously when withdrawals are enabled here in order to kind of like further decentralize out uh ethereum staking obviously there are concerns around centralization with ethereum staking right now specifically with regards to liquid staking providers but i've said to you guys before that i think that the two biggest solutions to them is more competition which is what rocketpool obel and a bunch of other kind of like um

providers bring and also uh withdrawals being enabled on the beacon chain but that's further out so what we can do today is uh bring more competition online and also i mean there's a third thing there as well which is the social signaling but i've gone through this before and i don't think the social signaling is as powerful as we we can we can hope i think the social layout worked way better um as a last resort rather than like kind of like a first resort but at the same time what what it works as as a first resort is kind of like getting the word out you know making people aware of these things so that they can maybe make a conscious decision to not go with something like lighter and instead go with rockapool right if they're looking to steak so i think that plays a really really nice

part there and i hope people keep doing it there's obviously a bunch of people there that are tooting this horn but i'm personally like much more interested in seeing what the network looks like post withdrawals because of the fact that i of that great reshuffling that i've spoken about numerous times i know people kind of like disagree with me on this in in in some parts but look there's not that much kind of like competition out there in the staking ecosystem today guys like really there isn't and as i said like the beacon chain is like a half complete thing um you know it doesn't have the mer that's not merged with the um the east one network and beacon chain withdrawals still aren't enabled so it's it's not really in its end state at all not even pretty much it's pretty not even i'm close to its end state yet but

once it is then we can see what ethereum staking will actually look like and i i really do think that it's going to look a lot more decentralized and a lot more distributed than it has been in the past especially because at the moment everything's just up only like whoever puts eight into something if you put ethan to rocket poor if you put anything to light or put it into any of these providers yes you get the the kind of like liquid token back like r8 and or st for example and you can sell that uh for either at a discount or sometimes that parody just depending when it is but you can sell that and exit your stake but the thing is the eighth is still on the beacon chain because it can't be withdrawn so it's literally up only and the only way that the share of

the network gets diluted is if you go with a different provide provider so once those withdrawals are enabled i'm actually very very curious to see how many people pull out of something like lido and go to another provider because by that point we when we hope a lot of these other providers are going to be much more mature than uh than kind of like they are today so yeah anyway they're not enough ranting about that there definitely check out obl's new landing page i'll link it in the youtube description all right so speaking of new uh websites here l2 beat have launched their governance forum and they already have a proposal live for you to discuss so here you can see kind of i guess like the the the the proposal so reworking how total value lock works on l2 beat now i've spoken about total value locked or tvl a

bunch of times on the refill before and you know uh the post starts here by saying tbr is one of the most controversial and at the same time one of the most used metrics to access to assess the popularity of a chain reason it's most controversial is because it doesn't really tell you anything right like i remember back in the day when tvl came to popularity it was basically around ethereum d5 and then d5 there was originally a website that would show you the tvl in kind of like a d5 protocols on ethereum a lot of it was obviously in make a day i think over 90 was in maker and then uh as time went on all the d5 protocols came online and there was more of a share there but and then uh d5 pulse basically uh popularized it it was it was kind of

like a niche ethereum tool that people would use to track these sorts of stuff but then d5 pulse came out and popularized it and then it became a kind of big measuring stick for the ethereum community but the thing is then it became what everyone used and then liquidity mining came along and people were like okay well if you can just get billions of dollars into a protocol which just go which just exits three months later once the liquidity mining runs out then this tbr really mean anything and then we looked for better ways to i guess kind of uh uh assess the activity on a chain and fear when you came to prominence i i still believe here free revenue is the best measure we have because of the fact that it's extremely hard to fake because it's expensive to fake um but there's a bunch of other things as

well like active addresses right uh active users of of kind of like wallets uh you know different kind of like nfts that people collect uh especially people that are kind of like active at collecting them uh and any kind of like uniqueness that you can title and address and stuff like that right so this foreign post basically goes over that's like okay tbl is shitty it's not real it's not great let's see what else we can do and there's kind of like you know tbl versus a um so assets under management like how many assets are under management here which is it gets very similar to tbl kind of like reporting on things like supply of tokens and how the native token plays into it for example filtering out you know small cap tokens that are easily easily manipulated in terms of market cap uh and things like

that so this discussion uh has a few great posts here you can get involved with it if you'd like but i definitely think that we need to as a industry stop using tvl as any kind of like measuring stick i actually think it's it's probably one of the worst at this point in time because i mean like there's a saying that basically says when the target become so when a measure becomes a target it sees it seems to become a good measure or something like that i've butchered the phrase but you get my kind of like point here it's just not something that gives us any signal anymore it's just all noise to me and we need to look at other things as i said i personally look at fear revenue because of the fact that it's very hard to to kind of like fake and i think that

fear of when you gives you over the longer term more consistent view on how the the chain is growing and how the chain is kind of like faring and whether it's it's it's kind of like faring well in bull markets only or faring well in all marketing conditions you know for example obviously eth's uh fee revenue has gone down a lot because the bull market subsided but it's still he's processing four or five million dollars a day worth of with a fee so obviously that's not the tens of millions we saw during the bull market but it's still a lot and it's still a lot more than that it's kind of like next closest competitor so if i bring up crypto fees.info here for you just to show you what i mean right let's compare it to other blockchains not not apps because i've just discussed why why we shouldn't do

that before so let's just compare it to layer one and layer two all right ethereum over the last seven days did four point three million dollars of uh of revenue right on average right finance smart chain coming in second here at six hundred thousand 000 which is obviously considerably less than ethereum and then after that you have bitcoin which is half of what bsc is and then you have arbitrary avalanche and polygon and a bunch of other chains here but it basically collapses yeah so ethereum by far is the most used chain when when looked at we're looking at it in terms of kind of like fear of a new generator here and then bsc in second bitcoin third and then uh you know by a bunch of kind of like other chains here but a classic example of i guess bull market fair even use is

also something like avalanche for example and i know avalanche is a bit more nuanced here because of the fact that the thing that was accounting for most of its fear when you actually moved off the network and onto its own subnet but you can see here that if one app causes uh such a steep decline in fear venue well that's pretty bad like you can see here on may 11th avalanche was doing 1.3 million dollars of revenue for that day and then by may 14th it was only doing 100 thousand so it collapsed ninety percent in three days because one app left the chain and then since then it's just been trending down now avalanche was a classic example of a chain that did a big liquidity mining program during a bull market and that's where a lot of their fear revenue came

from and it wasn't sustainable i mean i think i mentioned on the refill that i didn't think it was sustainable and i can kind of like sort out here and show you you can you can see it here right like i think around august is when they started their liquidity mining program um probably a little bit earlier than that and then it you know during this was kind of like the peak of the ball and then they and then obviously this was the bear here but that was still kind of uh during this period there was still that kind of like one game or some crab game that accounted for a lot of the fear of revenue then that moved off and a collapse here so you know there's a different kind of things here and i think that you can't just look at fear

of a new in a vacuum and you can't look at fear revenue as a kind of like a day to day or week to week you need to look at it month to month to get a really good and sometimes even year to year to get a good picture because bull markets can distort that fear revenue given that everyone is paying whatever because they're making lots of money and that's why when you look at kind of something like ethereum obviously as i said ethereum is down as well right i'm like i'm not going to sugarcoat that ethereum is down a lot as well but let's go back to june 2020 i think cryptophase goes back to that here and let's look at what how the the evolution of kind of like ethereum's favorite new year i think it goes back to june 22. so you know you can see kind

of like how how kind of like sporadic it is and how volatile it is where you have like i mean not real this this was d5 sum which is funny enough right d5 summer basically stayed around what one two three million dollars a day uh even just towards the end of 2020 then you had 2021 where the bull market really got heated and we were in the 10 20 30 million dollars a day and then it going absolutely crazy during kind of like uh the the top year like 100 million dollars some days right then once the bear market hit again it kind of like crashed like crashed a lot we went back to a few million a day and then it heated up again and then you know we came back down obviously had this spike here which i think was due to the other side nft sale but uh but yeah

it's still kind of like has hovering around four or five million now so that if you kind of like take the average like this doesn't really take that they take the average i think you take the seven day average but that's not really going to give you much either like if you took the 30 day or kind of like 60 day average or something like that you'd probably average between 5 and 10 million of revenue and that's kind of like ethereum right so you can see here how much bull markets and hot markets distort things for fee revenue so that's why if you revenue as as much as i love it as a metric it should not be used in a vacuum at all it needs to be used with everything else like active addresses new addresses uh active addresses with the balance you know what

they're doing on the chain active users or something like metamask and all that sorts of stuff so that's why you know l2b should be reworking tvl to track l2 metrics because tvl just gives you absolutely no signal in general uh and you know no one metric will give you enough signal to kind of i guess like get a good picture of anything so so yeah that's kind of like maybe my tldr on what it means to measure activity on a blockchain uh and maybe i i think that ranking what is most important would be good to a good exercise to do maybe l2b can do this i think at the very top is definitely fair venue but then after that it's kind of up for the va for debate what comes after that especially in terms of like measuring it over long periods of time measuring it

in such a way that it can't be gamed because you can always game a different metric you can game active addresses on ethereum for example very easily and even more easily on a layer 2 because it's much cheaper to do it too so it there's just you need to take all these kind of like things in aggregate you can't just take things as like in a vacuum and that's how you get to i guess like measuring activity but anyway stopping it there because i've got a bunch of other things to get through but i hope that was insightful for you all right so the data availability problem or data availability in general uh may be something that you've heard about a lot over the last few months but in particular and it is the kind of like on the longer term roadmap for ethereum especially around things like data

availability sampling and stuff like that now there's two threads that you can read to get like a better understanding of this today one here from henry going over the data availability problem and how it kind of i guess like applies to things like layer twos and another tweet thread here from pin table pintail who goes um through what data availability sampling is and all the cool properties that come along with that i'm not going to go through the threads on the refuel but i highly recommend giving these both a kind of read because this is going to be talked about much more after the merge when we're leaning into the shanghai update which is obviously coming in uh hopefully 2023 that gives us proto dang sharding and things like that and then as time goes on to go to full data sharing data availability sampling

and data availability in general is going to become a huge huge topic of discussion within the ethereum community and something that you definitely need to be paying attention to if you're interested in core protocol work so read these two threads i'll link it in the youtube description below for you all right so chuna here has put out an interesting tweet thread about git coin grants 2.0 and how uh they believe it will be really really huge so i didn't actually know git coin grants 2.0 was a thing until i read this thread i've been unfortunately a little bit behind here but basically this is a 27 part thread going over what git coin grants 2.0 is what the roadmap looks like what its impact may be and the opportunities that lie there i think the tldr if i had to give it was that git coin grants 2.0 is

hopefully going to look a lot more decentralized than git coin grant 1.0 and a lot more community involved and a lot more kind of like community ownership of things and and definitely kind of taking a modular approach here as you can see from the picture that children has posted here but again this is a 27 part thread so i'm not going to read it out on the refill you should definitely go check it out i believe the git coin grants 14 matching round has ended uh so again just wanted to throw out thank you to everyone who donated to me but also to everyone else there i think it was a record round for git coin which is very very cool to see considering it's a bear market obviously git coin is one of those things that seems to do well no matter the market i

think bull or bear market people want to give want to donate to projects and public goods want to support public goods and that's always awesome to see because we definitely need more applications in ethereum that aren't subject to the whims of bull and bear markets because as i just showed you before if you just take fear venue as the metric of measuring activity it's pretty much like most of it i think the fear revenue is down like 90 from its peak on ethereum uh i i think most of it uh is definitely attributed to kind of like the bull market rather than just then kind of like anything sustainable right because obviously bull markets come and go bear markets last longer and and and the thing is we need more better applications and i've discussed this before on the refuel how i thought that we need just much better applications in

general for for crypto for blockchains and i discussed how i think layer 2's are going to enable that but it's very very awesome to see that git coin is just so resilient and this is so detached from market cycles and it seems to do well no matter what the price is doing so very cool to see that all right so another big thing you'll be hearing about uh in the coming months is account obstruction now i spoke about this on the refill the other day but arjun has a great explainer thread here about what account extraction is and what uh uh well and why you should care about it now you can go read this thread it's it's not a long thread it's quite short and obviously argent is a mobile wallet so they know a thing or two about i guess like ethereum accounts and how to

do how to kind of like uh treat them properly and how to secure them properly and also how it works on layer two is with zk sync and stock net so definitely give this a read i'll link it in the description so uh pmc googan here announced today that uh announced i guess yesterday that they've launched a new product or a new website called xeromav.org which is a front-running explorer so you can now protect yourself and empower yourself by using this front-running explorer to find a bunch of different things about uh transactions that you may be submitting and transactions that other people have submitted so there is a walkthrough video that you can watch on youtube here and also a getting started website at info.0mav.org

to teach you how to use it i think this is very cool mav is obviously one of the most important topics in ethereum if not the most important long term kind of like topic and long long-term concern in ethereum because i've discussed it before but there's a lot of toxic mav that we need to try and eliminate that we need to make sure that that doesn't kind of like cause instability on the network and it's more of a longer-term problem and there are other solutions like pbs and things like that that are coming too and speaking of mav as well you should definitely give a recent episode of bankless alison with matt cutler from block native he gave a really really great podcast talking about all things you know mempool mav a bunch of different kind of like things that surround that so you definitely check

that out as well if you want to learn more about mev but you should definitely check out xeromev.org if you're interested in diving deeper here too all right so sudo theos put out an interesting tweet the other day where he said rollups have a cost advantage as a blockchain paying ethereum settlement cost for security is far cheaper than running a bespoke validator set now this i guess goes back to what i was saying the other day when i talked about dydx and how they were moving to their own app chain instead of kind of like staying on kind of like a as an ethereum layer too and i wrote about this in today's newsletter i'm not going to dive too deep into this but what i wanted to say is that i think that it's just weird to me that people would still consider building their own chain when the costs

associated with it not just the um the economic costs but the social cost the decentralization cost the coordination costs are so much higher i'm not talking about just like two times higher or three times higher i'm talking about potentially hundreds of times higher than they would be if you just spun up a roll up and the clearest example of this is if you spin up your own chain you have to pay for validators you have to coordinate these validators you have to try and decentralize them and you have to pay them in the token via token inflation and it and it costs a lot of money to spin up something like this whereas if you spin up a layer two on ethereum you can just start paying ethereum layer one right in transaction fees as a normal kind of like a user would and you can start offering more block

space to your users and kind of like uh scalability to your users so from that point of view like why would you spin up your own action like i'm still trying to write my head around this and don't know that bankless did a podcast with antonio from dydx and there was discussion around that i spoke i didn't listen to it myself but had a tldr given to me and basically antonio apparently hand waves a lot of kind of like questions away or was very confident that he could solve a lot of these fundamental issues with app chains in a shorter period of time but i just don't buy that i i really do think that roll-ups while they they're maybe considered immature today and they're still very early they have a much better path to getting to where we want them to be than something like an app chain and

i think over the next few years a few years this may become like a pretty big uh i guess like ideological fight in the community but at the same time like you could imagine a world where ty dex launches their app chain and it goes nowhere and that kind of like puts a nail in the coffin of the app chain thesis meanwhile roll ups keep kind of like growing volaps keep getting better obviously they're getting better all the time and they're getting more scalable all the time and you can imagine a world where they're just like much better than than amp chains leagues ahead of them before app chains even have a kind of like chance to get remotely close to them so i'm not going to go into that discussion again you can definitely check out um the video from the other day where i

talked about the dydx move uh for more details on that and you can check out today's newsletter too because i wrote about uh this tweet from pseudotheos all right so joseph de long cto at astaria has put together a thread saying uh we started he started by saying a lot of people have been asking me what is a styro and how does it work in short astara is an nft lending protocol and astar has it has developed the three actor model or 3am in 3am there is an appraiser a borrower and a lender and you can basically give joseph's uh kind of like tweet thread a read here to kind of dive deeper into it and he's got a little image here showing uh kind of like how this all works as well so i mentioned astari the other day and i did mention that i'm an investor in them as

well um but you can definitely check out joe delong's thread here if you're still confused about what astaria is i like how it works how you can do nft lending protocols and and kind of like how it's kept safe and secure and all that good stuff there so definitely go check out joe's tweet thread and finally here lyra finance has introduced a protocol upgrade called avalon which is a as i say a powerful upgraded version of layer protocol on optimism here so lara v1 uh obviously has been out for a while now and lara avalon will be kind of like retaining the features of of v1 uh and also adding a bunch of new features here so if you want to check out everything that's coming there you can basically

check out this kind of like tweet thread for more information on that but i'm not going to talk too much about it because i've gone over time here so i'll link this in the description for you to check out but that's going to be it for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to newsletter join the discord channel and i'll catch you all tomorrow thanks everyone