Sorare raises $680mil, ETH's supply shock and more - The Daily Gwei Refuel #213 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delight refuel worry cup the latest news and ethereum ecosystem i'm your host anthony sosano and today's the 21st of september 2021 all right everyone let's get into it so final days of the latest git coin grants matching round 11 here you can see that the stats are absolutely amazing 168 000 plus contributions from over 8 000 people uh up to 718 000 has been donated so far which is which is amazing honestly i mean that's a lot of money and that's on top of obviously the matching pool which is 950 thousand dollars uh so there's been 1100 grants contributed towards which is uh 10 increase from 15th of the 9th with just about a week ago uh now so yeah this is cool to see i mean if you

haven't uh donated on git coin grants be sure to do so there's obviously a lot of great projects on there this will probably be your final reminder if i don't you know if not maybe i'll remember on the last day to to remind you guys to do it but don't dawdle it's almost over september 23rd is when it ends so i think it's two days from from now it'll end so yeah just get on there um and the link will be in the youtube description of course uh and go donate to your favorite projects all right so then a bit of news uh from coindesk last night where they kind of like announced that coinbase has dropped plans to launch their lending product after the sec warned it would violate federal securities laws so this was something that i spoke about a couple weeks ago maybe on the refuel about how

the sec was basically being bullies towards coinbase and that's why i kind of quote tweeted here and said the sec are bullies this is pretty bad i mean they've basically forced coinbase not to launch their lending product um which was essentially the goal i remember i said on the refuel that i don't think the sec is acting in the interest of the people they're acting in the interest of the banks and you know it was funny i don't know if i've mentioned this on the refuel before uh but kathy wood kind of like said on a podca on on the bankless podcast that she thinks that the yield available within kind of crypto is eating into the bank's profit margins uh at least at the margin and they're kind of like now aware of it and it's kind of like a threat to them so they're using

whatever power they have at their disposal to stop this thing from proliferating which as we all know is not going to be stopped it's just going to continue you can't really stop crypto you can't stop truly decentralized finance but unfortunately they can stop the centralized um uh kind of like it's like institutions like coinbase for example where it's very easy for them to do so they can you know coinbase is us-based they can base the sec can basically just go yeah we're gonna you know we're gonna pursue you criminally or sue you if you do this and the coinbase probably weighed up the options be like okay well how much money would we make from this product is it worth getting sued over is it worth kind of battling in court over and it obviously isn't especially because it's not just the money aspect of it it's also um if

they kind of like lose then they'll have to remove the uh kind of like service anyway and then they'll have like a mark against their name and the regulators will probably um go after them even harder so i feel very sorry for for coinbase here i know that i always say that like when we're trying to disrupt these centralized institutions because we can't trust them um you know they're shitty they're they obviously take advantage of their customers some of them but i think the real reason why i want to disrupt all the centralization and i think this is like the wider sentiment within the community is because it means that these regulators can't shut us down they can't take down something that is decentralized and that's why i've always been like super super bullish on things like uni swap which are fully decentralized from the

start the smart contracts cannot be tampered with unless you were to overtake the entire ethereum network um and we should be promoting more of that within the ecosystem but it just sucks that it's just so easy to to go after these kind of like centralized entities and i mean that is that is the trade-off you make centralized entities can can do things that decentralized ones can't at this point in time uh because they can they can scale easier and stuff like that but uh long term they are not they are not the kind of like um the solution here for this industry we need to get um get rid of them as fast as possible we need to get off them as fast as possible they're still gonna exist in the kind of like fiat on an off-ramp capacity um they're still gonna exist as like the

front door to kind of crypto from for a lot of people but generally we need to be able to replicate their functions as much as possible within the kind of like defy space especially and we also need to stop relying on the byproducts that they create as well such as the usdc stablecoin tether all the other centralized stablecoins as well we do need to kind of like i guess like kill our alliance there because as i've said before the regulators are going to go after two things they're going to go after the exchanges and they're gonna go after the stable coins those are the two major things that they can easily shut down if they want to or force into a kind of like a corner where they have to comply and you know if they were able to kind of i guess heavily regulate these stable

coins like usdc uh it would be bad news for dfi i think um depending on what they do uh usdc could possibly lose its peg or it could become so regulated that doesn't make sense to use within d5 because you have to kyc and all that sorts of stuff so you know there's plenty of stablecoin projects right now that are trying to i guess do a decent a truly decentralized stable coin um but it's going to take us a while to get there i think it's quite hard i i've written about this before in the newsletter where i said like the holy grail of the decentralized state of a stable coin in general is being decentralized scalable and stable we don't have that right now i think to an extent the closest we came was um under single collateral die uh when we just had eighth backing it up

and uh we had like there was a governance process but it was it was it was quite decentralized um and you know the problem was is that diet wasn't very stable under that i mean it would deep i mean depends pretty bad at times as well and it wasn't it's not a very scalable system and it probably still isn't even with the kind of like multi-collateral system even though it's been growing i'm talking scalable as in like trillions of dollars of these things with with kind of like collateral backing it now there's other projects like rye for example that are tackling this and there's um even other ones that are that are um i guess like tackling it from a different perspective like the olympus dow that i've been kind of like looking into a little bit recently so and i think something called spell or or mim

or something like that there's there's definitely some some stuff going on there that i'm just you know i'm just kind of like looking into now i had heard about it before but the thing is a lot of these stable coin projects is that a lot of them look like ponzis and a lot of them actually are ponzi's so i tend to ignore them until they get big enough and until i see more legit people get involved with them to actually start diving deep into it i don't care if i miss out on gains or whatever from not investing early that's that's not really the kind of the point of why i wouldn't want to look into it but i would really love to see one of these things succeed in in a really big way so um but yeah the sec just doing what they do best

being bullies they seem to be taking a scorched earth approach to crypto regulation right now where they're basically just going after anyone they can and scaring everyone else into submission i mean really protecting investors guys you know it's just ridiculous it's crap they're going to push a lot of people overseas i'm already hearing um from a lot of friends that people they know are literally moving out out of the u.s and going kind of like living and working somewhere else because they're sick of being kind of like forced into a corner and forced to comply with draconian regulations and forced to feel like they're constantly being i guess like watched by the sec and at any moment could be kind of subpoenaed or sued or whatever so yeah it's it's definitely not a great time i guess like to be a d5 builder in the us

right now but i don't think this is obviously a death knell or anything like that for defile for crypto i just think that there's going to be a lot of um a lot of movement in the world that's for sure there's going to be a lot of movement a lot of economic movement and if you as i've said before if the us continues down this path they're going to be left behind in the crypto revolution so it's up to them what they want to do uh i don't know what's going to happen politically like obviously the sec has some level of autonomy but they do ultimately answer to uh i guess um to congress right in the u.s so they can't just do whatever they want but it feels like they're trying to do that right now it feels like you know it feels like

they're trying to do as much as they can before they get told off because to a certain extent they they you know they can keep doing this but then someone's gonna complain to congress someone's gonna be like you know what's what's going like one of the bigger plays are gonna be like what's happening here this is ridiculous and then congress is gonna get um chime in and then the ssc are gonna like be backed into a corner because they have masters at the end of the day they're not like they have their own autonomy to do certain things but it's not like they can do whatever they want uh and it feels like they're trying to do that right now while they've got time while they can but that certainly won't last forever at least that's my understanding of kind of like the regulatory landscape

in the us uh but i'll leave that at that for now uh definitely obviously going to keep an eye on what's happening with regulatory stuff in the u.s um you know i i heard that someone in the in the kind of like at the conference in the us in new york um the mainnet conference got served a subpoena from the sec while on an elevator or something like that and there's rumors that it's do kwan from the terror ecosystem hasn't been confirmed yet so i don't want to kind of like say that that's a sure thing or anything like that but the the thing is is that dough is a south korean resident and citizen he is not based in the u.s the terror ecosystem was born out of south korea but the thing is is that they have a very popular stable coin called ust

which also has a very popular yield bearing product uh in anchor which allows you to get about 20 i think on on your ust so i think what the sec is doing is going after these yield generating or yield bearing products because their banker overlords are basically saying well you know this is eating into our profits that's that's kind of my take on it i know that some people say oh that's a conspiracy the sec is not doing that it's like follow the follow the clues guys like it's not hard to draw these kind of conclusions um you know especially going off what the ssc has already done and the products that they're going after like coinbase lend for example but anyway living at that for now so uh coinbase institutional uh sorry the coinbase institutional twitter account put out a great little kind of i guess

table here where they said despite the recent sell-off eighth is on track to close its sixth consecutive positive quarter so you can see here that obviously um you know uh through 2020 it was all kind of like green every quarter all positive uh and then in 2021 you also have uh uh kind of like positivity here this is the seventh i think consecutive uh quarter i don't know why they said they said sixth year uh maybe they did they didn't notice that it was seventh unless i'm reading it wrong because q1 q2 q3 q4 and 2020 we're all positive um and so is the other three quarters in 2021. so seventh consecutive uh positive quarter which is even better than six right um but you know the funny thing is is that i was thinking about

this today i'm like okay well we're already at the end of q3 for some reason my brain was thinking about uh you know these quarters as seasons like i was saying okay well you know q3 is um he's basically starts in september i don't know why my brain was going like that definitely doesn't happen like that q3 ends in september and then we have q4 being october november december and q4 is actually usually a very good month for for for crypto especially bitcoin i mean you can see here in the chart that it may not look like it um but q4 leading into i guess like q1 is is pretty good for crypto generally uh but like i guess 2018 and 2019 were both bear market years if you want to look at bull market years 2020 was very good 2017 obviously was very good and then uh

2021 who knows maybe it's maybe it's good or bad and even in 2015 it was pretty good but if you look at bitcoin it usually performs really well in q4 um and sometimes into q1 8th definitely performs better in kind of like i guess later q4 earlier q1 sort of thing so we're gonna have to see how that plays out but who knows i mean obviously i'm still bullish obviously i don't think i mean i've said it before i don't think we're going into like a two-year bear market you know say we like peaking q4 q1 and then we go into a two-year bear market until 2024. i i don't see it i don't see that happening at all um you know maybe i'm wrong maybe it does happen maybe i'm completely off base there but i i can't imagine that happening but i still think this kind of

like table is pretty cool to kind of see here and then you know the reason why or at least one of the reasons why i don't see these kind of like long-term bear markets happening is stuff like this so this was a reply to a tweet that i kind of put out the tweet that i replied to today about eip1559 where this person called t on twitter said um the data around 1.59 is honestly pretty crazy miners still have a good chunk that they will be selling if we keep with history but we're talking like 150 000 each instead of 400 plus thousand and there's this kind of little chart here that shows just how uh kind of like the the mining supply shock ratio how prevalent it has been or how kind of like effective it has been since 1559 went live and the funny

thing is as i mentioned before 1559 is only the appetizer we've got the merge is the main course the merge is a supply shock much greater than one five five nine and i wrote about this in the newsletter today but essentially the reason why it's much greater i mean i've talked about this a lot before but the tl dr for those who haven't haven't kind of like um listened to those episodes uh essentially the um the merge is a 90 insurance reduction instantly so and and and uh instead of issuing about 4.5 percent each per year that we are now to miners we would be issuing 0.6 percent uh ether there and then coupled with the burn we would be net deflationary but outside of that there's a key difference here that i don't think a lot

of people realize you have um miners today even if they've taken a pay cut they're like with one five five nine they are still forced to sell most of the ether they mine because of the fact that they have these massive ongoing costs there's electricity costs personnel costs they have maintenance costs they have to buy new hardware every now and again um they have obviously tax and stuff like that so there's that aspect to it and they also have to probably play play kind of like uh uh a rent as well for like these data centers that they have to kind of like rent out to put their miners in uh then can contrast that to contrast contrast that to stakers who not only are going to be earning much less but

still keep the chain secure at 0.6 percent a year current at current stake to mount but on top of that they also are not forced to sell eth to cover anything really besides taxes the only force selling that they have is taxes they have a much much smaller um electricity bill than a miner does like 99.9 smaller than the electricity bill than a miner does and to be honest the people mining uh sorry staking they can pay that extra bit of electricity bill they have with their normal income they don't even have to cash out eth to pay for it so really the only time a staker is going to be selling eth uh i you know i think this is going to apply to most stakers is to cover taxes and this isn't going to be uh um

all stakers either because there's going to be places where staking isn't considered kind of income tax and it's kind of tax-free i'm not sure exactly which places that those are but they don't exist of course right so there's going to be that uh there's going to be different kind of like tax levels as well business tax uh for people who have businesses or for institutions that are staking and things like that and then there's personal income tax and it's gonna vary so let's say like there's a flat 30 tax right just just as an assumption here maybe it's 40 maybe it's 20 i don't know let's just say it's a 30 flat tax so really only 30 of newly issued eth would be forced to sell each each year to cover to cover taxes and maybe that doesn't even end up happening because what ends up happening is people

just pay their taxes on that that they owe on that from other things maybe from other games that maybe within the ecosystem maybe from selling eight that they kind of um weren't staking so when you kind of bring this all together the supply shot coming with the merge is insane like i don't think people realize just how insane this supply shock is there's been there's never been anything like this and people sometimes argue back against me and say oh well scarcity is like only one um side of the equation you need demand as well well hello like how much demand do we have for eth right now um the the fee burning doesn't just happen for no reason the fee burning happens because people are using eth to use the ethereum network to pay gas fees and that's tens of millions of dollars of daily revenue and tens of millions of

dollars worth of being burned every day and which translates to tens of millions of dollars worth of demand uh for eth then you have demand for eth for staking of course you have it for d5 you have it for uh people just holding it as a story of value people using as money within the nft economy and a bunch of other use cases out there and ones that we haven't even thought of like i just the demand side is there guys like it's not just i'm not just saying that like scarcity is everything i don't believe that at all and this has always been my problem with the bitcoiner school of thought is where they're basically like well we have scarcity that's all we that's go that's fine you know demand will come because of that i don't believe that at all i believe you need very strong demand

drivers and a very strong demand side um to match the scarcity or our scarcity means nothing like i can create a token today right i can just go there underneath the scan create a token and make it like just uh have like a supply of 10 right no one's gonna care like really and no one's gonna care at all it's gonna go to zero like if i don't do anything with it it's gonna go to zero because there's not gonna be any fundamental demand for that token it doesn't matter how scarce it is so the same applies to everything and that's why i always push back on people that kind of come at me with uh scarcities and everything and i know that and i wouldn't be kind of like pushing this as a bullish scenario for eth if the demand side wasn't there either because it's all well and good to

issue much less eats and have much less eat entering kind of like the circulating supply but if there's not a demand side to match that it's kind of meaningless because they'll be because on net there would be more um supply entering the market than there would be demand which means that you would have a lower price over time anyway but the reality is is that there's much more demand even at these levels like we've been able to appreciate from an eighty dollar eighth or nine dollar eighth in march 2020 to a three thousand dollar eighth today and you know at all-time high was a forty four hundred dollar eighth and we're still issuing four point five percent new ether yeah and this was majority of this move was done before one five five nine was issued as well so um you know we're currently not

issuing four point five percent i think it's about three percent if you can account for the fee burn but the fee burn has only been live for like seven weeks so before that and and went live after we went to 4 400. so we were able to go 44 x or more than that off the bottom in march 2020 in in kind of like a year and a bit uh with that level of issuance imagine what the east price is going to do when we have the same if not more demand that we've had over the last few months um minus the uh like 90 less or more than that uh issuance reduction it's just insane when you think about it right so i i think a lot of people are sleeping on this this is i mean i've said this before but this is the main reason why i stack eighth

every day and i have no issues with it this is the main reason why i believe eighth is going to a hundred thousand dollars plus as crazy as that sounds as crazy as as people have called me about that they said the same thing to me about ten thousand dollars and now ten thousand dollars is considered a bearish target we're pretty close to ten thousand dollars really in the grand scheme of things we could be there within the next few months so from that perspective uh uh and taking all that into account the world is not ready for this and and that's kind of like the tldr kind of bull case i guess for eth but at the end of the day um i i think all of this doesn't matter unless we still have the demand side so let's keep growing the demand side through apps um you know through

kind of like uh getting people to use their network uh getting electrics online so they pay the high fees and users don't all that sort of stuff like continue the the nft stuff i i mean i have no doubt that that's going to continue and i don't think that um at this point it can be stopped i think ethereum's reached escape velocity where just too much happening the network effects are too strong and the the fees aren't hampering adoption in my eyes i think the fees maybe in the very short term have kind of like made other chains um sorry benefited other chains because they were able to get the users but i don't really think that's a long-term thing because these same users are going to come and use layer 2's on ethereum which are paying for layer 1 security anyway which just i mean it's still paying for the fees

fees are still getting burned all that sort of stuff so yeah crazy stuff going on there but i'll leave that uh at that foot now i've got a bunch of other stuff to get through uh today so uh mjs from lyra finance here is teasing that um before the end of the year lyra is going to launch markets that don't exist anywhere on chain or not this is really cool i'm a fan of the lyra project as i've said before i did kind of participate in one of lara's kind of funding rounds um but i've been talking about lyra for quite a while now i've been talking about them before i kind of did that for those who don't know lyra is an options protocol that exists on optimism it's a layer two only protocol it's not on layer one um and they're kind of like got spun out of the

synthetics ecosystem they've been having some decent growth i think they just started the liquidity mining program the other day so you can earn some tokens there uh but yeah i'm excited to see what what these markets are i mean the fun the fun thing about crypto is that we can have markets for literally anything and i think that the reason why maybe it hasn't taken off as i've described about prediction markets before is the scaling aspect to it so we need those low fees but larry doesn't suffer from this because they're on optimism um they get to enjoy the low fees and instant transactions on there so yeah definitely looking forward to that um so one of my i guess like favorite people lately uh that i that i've been talking about a fair bit i think on refuel and a bit on twitter is paulinya

and he put out another blog post today where he basically detailed uh the short kind of like thoughts on the metaverse and how um we're gonna reconstruct society from kind of first principles and i guess the gist of the post is that a lot of the kind of i guess stuff that limits us within meat space within kind of like the real world goes away in the metaverse because the metaverse is essentially infinite we can build worlds that are as big as we want or as small as we want we can do anything in these worlds there's no limitations to what we want to do we can kind of like restructure the way people coordinate and live we can live in these murder verses you know i mean there's been lots of sci-fi about this before where people kind of living in these places and i

think you know as the world progresses the way it is right now where more people kind of i guess work from home um i guess with covert a lot a lot of travel was kind of like um it was cancelled as well more people got used to living at home uh certainly living at home working from home staying at home and stuff like that the metaverse is definitely going to i think be a big kind of theme next over the next decade for sure especially with virtual reality making strides and kind of like improving as time goes on as well but yeah i mean this short little note from pauline i got my just brain thinking about spinning about things like that so i definitely recommend giving it a read i think it's just a great little uh little snippet of what to expect from the

metaverse so patrick mccoy put out an interesting tweet today where he said anyone has played around with arbitrary optimism aztec starkware loop ring zk sync has noticed the that they get a coinbase experience so basically you know fast fearless kind of like low fee experience uh proof of reserves by default what he means by this is that we can basically order to the smart contracts anyone can and see that they have the money that we expect to be in there so the reserves are there there's no lying it's not like in exchange they can say oh yeah we're fully backed we have all the the um currency that we say we do um but then they don't prove that there's no way around this this is all provable on chain um self-custody by default

obviously you're just using metamaskers on your wallet yes there are centralization vectors to some of these layer twos right now but um that'll go away in time of course and that will decentralize over time and then you get instant confirmations of your transactions but delayed finality now what this means as i've explained before when you use when you do transactions on these chains especially something like a like an arbitrary for example an optimism your transaction is it may be instant in terms of confirmation but the finality of that transaction is delayed until the batch is posted on layer 1 ethereum now until that batch is posted that transaction may be confirmed but not finalized which means it can in reality not exist at all until the batches is um is posted to layer one so that's something to keep in

mind as well and then he goes on to say you know version 0.1 of the scaling crypto future is already here and i think that's a great way to put it we're still super early on the scaling front this is really just the very beginning of everything that we're kind of like trying to build here but it's great to see that all these features are already kind of like front and center within these layer twos and speaking of layer two uh this fantasy soccer nft platform so rare which i've spoken about before has raised 680 million dollars in a series b led by softbank uh this is a huge round i don't know if this is the biggest funding round in crypto that i've seen lately i know that flow had a couple of big rounds i think this might be bigger than that i can't remember exactly or

about this it's the same size of it but it seems that nft mania is well and good that doesn't seem to be slowing down at all there's no uh i guess like even the nft um uh market on on kind of like open c and stuff like that seems to be making a rebound from i guess coming down off its highs but this is insane and the thing is is that so rare is not built on floor another blockchain or their own blockchain they're built on ethereum because they're using starkware um so they're using starkx which is starkware's kind of technology there um i i i don't think they're a zk rollup i believe that they're a validium um or or a kind of like no they're not evolution because i don't think that's out yet i believe there are valydium actually if i if i look it up quickly

here i'll be able to get you an answer um yes they are valydium which basically means they keep the data off chain but they post the proofs on chain so they're not technically a zk roller but that's okay for stuff like this i think that's the perfect construction for stuff like this and so we have volitions which are even better than um than valydiums but i mean this is amazing to see this is uh i mean i'm not really into kind of like soccer or anything like that or sports generally like that but i see the the massive appeal i mean it's a huge sport worldwide there's i think billions of fans and obviously a lot of people love to trade kind of like um uh do fantasy sports stuff so yeah i mean softbank sees that a bunch of other investors see that as well i believe what are the

other investors actually i don't remember um there's a few i guess a lot of them were web two-based investors not a lot of crypto native investors but i think the crypto native ones actually got into the previous rounds as i said this is a series b they've obviously already done a seed in a series a uh but you can see yeah i mean uh atomico bessemer ventures demon capital they're all traditional kind of like web two uh kind of i guess like vcs and funds here which is actually pretty bullish because this is what we need we need these kind of like bigger players from the web to um i guess world to legitimize this sort of stuff especially um investing more in the ethereum ecosystem so i'm really happy to see uh so you know so raise this and congrats to the team on that

all right uh polygon he now has support from bitfinex so the polygon pos chain if you're a bit for next user you can withdraw to it directly from the exchange which is really cool so you can i think it just supports uh uh matic right now um i think uh and then maybe they support other kind of like exchange kind of withdrawals here oh and this is also a listing i believe too so i didn't know that matic wasn't live on bitfinex just yet but i guess it's live now and you can also withdraw it to the pos chain um which means that that's just another bridge into the pos chain don't have to go through ethereum if you don't want don't have to go through hot protocol or anything like that you can go through bitfinex if you are a bit for next user

so frame which is basically an ethereum wallet that some of you may or may not have heard of have released an extension that now automatically verifies ens names on twitter so if you hover over uh someone that has an e s name in their in their kind of like twitter uh name here and hover over this little ethereum icon you'll be able to kind of like see uh the kind of like the inventory of these sorts of things like what people are holding they're in s name stuff like that i mean if i go to mine it's probably probably a better example here if it wants to load you know these live demos man they never they never uh work really well there you go you can see my inventory you can see all the nfts that i have and you can kind of scroll

through them and stuff like that um yeah you can see them all here and the funny thing is is that like it says you know i've got no nft profile picture this is actually going to be an nft this is wazzy here um from the lumlock nft kind of project and you know then you can see if the nsm was verified or not i'm yet to verify mine um but i do obviously own cecil.ed uh but yeah i thought this was just a little a really cool little feature here that frame has done and those who don't know frame is just like an alternative ethereum wallet or an ethereum bot that is an alternative to something like metamask and stuff like that and i've heard a lot of good things about it i haven't used it too much yet i'm definitely gonna i'm gonna use it but i

think from what i've read it also works really well with the lattice one hardware wallet too so that'll be really cool to check out as well but i mean if you want to get the extension the frame extension to basically be able to see this on twitter where you can automatically see people's nfts that they've got on their e s name and stuff like that definitely go download it it'll be linked in the youtube description um just a quick shout out here the cryptocurrency jobs uh they have a weekly newsletter that uh basically highlights the best new jobs at leading companies within crypto so if you are looking for a job definitely subscribe to this newsletter you'll be able to keep up to date with what's happening in the i guess like hiring space and potentially get yourself a job as well as i've spoken about many times before

there are many different paths into crypto or into working crypto this is just one of them um so definitely sign up to this and speaking of uh kind of i guess like roles available right now the esp the ef ecosystem support program is currently hiring a team lead they're looking for someone organized innovative and passionate about ethereum if and if you think you might be the right person to lead a small but hard working grants team see the job posting and apply here and i'll link this in the youtube description of course but if that sounds like you if you want to head up a small little nimble team um as part of this program where basically what the esp do is that they give out grants from the ethereum foundation's treasury to ecosystem projects uh i think that's actually a pretty cool job you're gonna

be able to uh you know decide which projects uh get grants kind of like filter through them see all the cool projects that are happening within the space and lead a small team so yeah if that sounds like something you wanna do definitely check this out but i think that's it for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone