Superfluid on layer 2, Immutable fiat on-ramp - The Daily Gwei Refuel #275 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily great refuel where recap the latest news in the ethereum ecosystem i'm your host anthony susana today the 16th of december 2021 all right everyone let's get into it actually before we get into it i should note that this is going to be the last refuel that i ever do in this room there unfortunately will not be a refuel tomorrow because i am moving i have to pack up my pc and everything so the next refuel will be on monday which will cover friday saturday and sunday's worth of news there for you guys but yeah look at the room it's empty there's nothing left i took it all out today and really all that's left is like one monitor in front of me and the camera and the microphone and all that sort of stuff but straight

after i do this video i'm going to pack all that stuff up too so just that feels weird it feels eerie being in a room that's basically empty because uh for as long as i've been in here there's always been stuff around me i mean you know being on camera since episode one of the refuel you you you can go back and see it was pretty much just the same all the way through right i kept adding more stuff to it of course and things like that so yeah very excited to get into the new place uh and get all set up there it should be good to go by monday and then yeah there'll be a totally different setup behind me i i think i don't know exactly what it's going to look like but i'm going to try and make it look cool try and make it

look homey but you all have the nft to remember this kind of room by you know the ones the ones that kind of like purchased the nft of course uh which i couldn't have asked for anything better honestly to immortalize the room here so yeah just wanted to give a quick note on that that there will be no refuel tomorrow but uh the next one will be on monday and there also won't be a delegate newsletter either tomorrow i've packed up my laptop and everything i don't even know what box on that probably seen so i won't even be able to do and you'll do a newsletter um but yeah there's a lot to get through so let's get through it today so the first thing i wanted to jump into was this tweet from spencer noon who basically put out a chart from token terminal and

he captioned it with when it comes to making money if is king now you can see here this is protocol revenue as measured by token terminal it doesn't only measure ethereum and ethereum based apps but it measures other blockchains and things like that as well and this is i believe um i don't think it's lifetime revenue i think it's i'm not sure what the kind of like time scale is is here 1.2 billion if i had to kind of like if i had to kind of like guess what that would be maybe it's like the volume year-to-date sort of thing so it's the volume sorry the revenue year-to-date so without knowing you know without kind of like having any other context here i would say maybe that's it or maybe you know it seems a bit low for you to date so i'm not sure but regardless of kind

of like what it's measured from look at how much revenue it is it is kind of like generated compared to everything else i mean i remember back when axe infinity was all the rage and people were kind of asking like look at the amount of revenue x infinity's generating it's crazy it's generating more than ethereum some days i'm like yes yes that's that's fine that's all well and good but it's not about the day-to-day revenue right it's about the long-term sustainable revenue of which ethereum has like there's no i mean ethereum has the most massive lead here there is really no second best and even comparing ethereum and axiomfinity probably isn't the right comparison i would say comparing ethereum and other layer 1 blockchains would be the right comparison um so you know comparing it to something like an avalanche here which you can see has 16.8 million

compared to 81.2 billion so it's not even in the same league and then you make your way down the list here you can see solana's only at 3.2 million um what what's next is there any other layer ones no just those two there i'm guessing because i mean file coin as well 2.8 million but i guess like five coins and a smart contract chain helium also a layer one but yeah i mean they're all kind of like dwarfed by ethereum's protocol revenue now the thing is about protocol revenue is that it's nuanced right it's not not all protocol revenue is created equal because for much of it's life or for most of it's life until august 5th most of that revenue protocol revenue the fees being paid was going to minus it was not going to anyone you know we weren't burning any eath so it wasn't

coming to hold us as kind of like a pseudo dividend or anything like that it was going straight to miners who would sell it uh so it meant really nothing there but now you know most of it 70ish percent probably a bit more than that it gets burned and then the rest of it goes to miners and in the future they will go to stakers instead so now if you're well i guess like eighth is capturing that value that's being generated by the protocol the revenue that's being generated um and then you can kind of look at some other kind of apps here like dydx for example like dydx token holders don't get that revenue i believe that goes straight to diy dx the company who you know they pay the roll up fees and stuff like that and they pay other kind of like mate running costs and

things um but i believe that all the trading fees pretty much go to them and the market makers and stuff like that as well i i believe and then there's other things you know like sushi swap pr that's going to liquidity providers right same as uni swap same as like any amm um it i mean sushi swap has a bit of it going to like i think 0.05 percent going to um uh uh sushi stakers which actually i believe this is only showing protocol revenue which means it's probably not showing i don't think it's showing um liquidity provided revenue here that would make more sense because i figured sushi would have more than that so this is just what's gone to the protocol itself um and you know in some of these protocols they have a way to stake the native token in order to get a share of

that right so yeah i believe that's what's being shown here um fully for these applications so that's really cool to see and then yeah i mean you can see the the other ones here as well so i guess the whole point of me showing you guys this is i mean just to show you the magnitude indifference between i guess like if um eats protocol revenue and everything else it's just there's not even any comparison here and i know the high fees on eth hurts right but the thing is at the end of the day people are paying and they're willing to pay because they're getting the value out of it now i'm curious to see what layer twos look like when they start taking off in a big way i know arbitrary and optimism basically hover around 100 150 000 a day worth of protocol revenue that's going to the

sequencer you know optimism is donating some of it as part of their public goods drive um and then uh you know uh with kind of like arbitrary uh that you know and and both german optimism they're paying their kind of like uh fees for lay one ethereum as well so yeah it's always nuanced when you kind of look at this stuff but uh i'm curious to see what how the l2 is fair because obviously they have much more capacity so their fees aren't going to be uh you know anywhere near as high as 8th l1 and they're hopefully going to get even cheaper over time so it's more going to be the quantity of the transactions leading to uh total you know the total fee revenue being higher rather than just a few transactions paying lots and lots of fees so kind of like individual

fees are high um and the aggregate fees are high uh whereas with kind of roll ups you have individual fees being low but aggregate fees are still being high because of that so yeah anyway that's a cool little chart there all right next up we have ether capital corporation here which is actually a publicly traded company i believe this is the first publicly traded company to do this but they announced today that they have staked over 50 million dollars worth of their eighth becoming the only public company in the world to stake such a meaningful balance i believe that to be true i haven't heard of any other public companies taking this much of their own eighth and then they go into a thread about you know why this is a big deal and everything like that you can give this a read but i wanted to kind of give my little view

here i mean it's a big deal because first of all that's a lot of eth right uh 50 million dollars worth of vape there's nothing to scoff at they're a public company yes they're called ether capital corporation i've i've known of these kind of like guys for quite a while now they were buying eth you know for a while they have a rather large balance of each obviously um but what it does it kind of like signals that these kind of large holders of each are very perfectly fine putting it into staking right to to basically transforming their earth from just being in cold storage to the internet bond as the bankless guys like to call it um which makes a lot of sense right so right now they're generating obviously the around five percent roi five percent yield on their eighth you know eighth denominated that's a lot of

that's not that's that's a lot of money at 50 million dollars worth of stakes right that's a well man i'm not even going to be able to do the math yeah i suck at math but that's uh ten percent five mil uh it's a two and a half million i guess like a a eighth denominated yield uh usd denominated a year if each price stayed the same but we all know that each price doesn't stay the same so it could be more or less but that's a lot of you know money that's for kind of like passively just um just staking here which is really really cool uh but then on top of that post merge there's going to be like a pretty big bump in in yield as well so you know some estimates put it at 20 plus if you account for the unburnt fear revenue and

also the mev that's a huge yield on eth right remember that's an eighth denominated yield that is not a us dollar denominated yield and as i've explained before all the people who staked eth back in uh i guess when the breaking train first went live and ethan's around what 700 or something like that all the people that did that back then not only have they earned i think the yields were like pretty high back then and then it came down to like five percent let's just say on average they earned six percent or you know over the last year not only have they earned six percent each denominated yield but ether has gone up a lot right either went up from 700 to current price of 4 000 something whatever it is right now uh so that that's you know average of six percent yield is in in real terms

and real dollar terms is much higher than that now that's not to say you know that that's guaranteed that a year from now 8 is going to do a run like that again like you know equivalent kind of like percentage terms would be a thirty thousand dollar eighth or something like that if i'm doing my math correctly there i don't think that's going to happen within a year maybe it does you know maybe i'm just being too bearish me being bearish that's that's a funny one maybe i am being too bearish there maybe it does actually happen because we have the merge coming up and things like that but uh yeah let's not get bogged down in the price predictions here but um you know those are kind of like the two major reasons why i think it's it's very uh it's a very big deal and

and the third one is basically uh uh kind of like just having a big kind of like amount of eight from a public company uh support the network right they're supporting the network with validators uh i'm pretty sure they're validating on their own or kind of like i mean probably not on their own but they probably kind of like have their own setup and everything like that they're probably just they probably have more than just like my little staking box right and a bunch of kind of like a professional kind of like set up there in order to secure that 50 million dollars worth of eat but you know it's absolutely crazy but i love this i love when big amounts of money do this because it's always a big deal like it's all well and good for me to say hey you know i've spun up a couple of validators

that's all fun you know no one really cares right like it's it and i'm not doing that for people to care or i wouldn't say that because i want people to care but it's not something that moves the needle in terms of like uh marketing or attention on staking whereas something like this is um and then you know ether capital isn't the only kind of like uh i guess entity to have staked a lot of eth there is a bunch of other kind of entities that have done this as well whether they be individuals or institutions uh or kind of like companies or anything like that but uh as they mentioned here they're they you know they're the only public company in the world to stake such a meaningful balance and i believe that to be true i haven't seen any other any other things i got kind of saying

saying anything against this so yeah really really cool to see this so immutable announced today that ecommi which does a bunch of kind of like nfts for uh well i guess licensed nfts for things like marvel and dc uh has officially moved to ethereum by moving to the immutable x layer 2 system here so over 3 million nfts are now 100 carbon neutral and available for gas free trading via vivi uh vivi official here powered by immutable x and stockwear of course so this is huge news obviously like you know the funny thing is we had the um the controversy the other day where ubisoft announced that they were going to do nfts based on tazos and it wasn't the controversy around what blockchain they chose it was around the fact that

a lot of their fans or maybe not even their fans a lot of people kind of pushed back on it and said we don't want you doing nfts like this is crazy you're just money hungry blah blah all this stuff um and obviously a lot of it was kind of like just misinformed people think nfts are scams but at the same time i actually sympathize with some people because when you kind of look at big gaming companies like ubisoft and other ones that have been stuffing micro transactions into their games for years now and loot boxes and just making gaming into more likes like video games and something like gambling like much closer to gambling um when you know that you see these kind of like companies do nfts immediately their existing user base is like or existing customer base is basically like well this is just another way for you

guys to suck money out of us and to be honest i think it is for a lot of these big companies whereas i think for nfts to really resonate with people uh from from those sorts of kind of companies it needs to be like a ground-up bottoms-up approach where users can kind of like earn these nfts and they don't just have to fork over some cash to buy them and they can actually be truly user-owned and user-generated um but you know that's maybe a little bit off-topic there but i think you know places like e-commie which does kind of like these premium nfts as they call them or licensed nfts is probably a better path than just the video game company shoving nfts into their games because there are a lot of people who buy licensed memorabilia and merchandise and things like that for these things i

mean you can't see it right now obviously but you guys know all my figurines and stuff some of it's licensed some of it's not but uh that's the same kind of kind of thing there and i don't feel like i'm you know enriching some major corporation by doing that or anything like that i don't feel like i'm getting ripped off or scammed in that kind of sense whereas a lot of people with the with video games they do because they've just been kind of like the money's just been sucked out of them and they get poorer and poorer quality games i mean for me personally i don't know about anyone else but a lot of the aaa games these days you know the ones made with hundreds of millions worth of budget they're just so bad like they don't even innovate they just kind of

like rehash the same thing because they know it's gonna sell because gaming has become such a kind of like huge business now that it's just become commoditized where it's like you know uh they can reap they can basically just re-skin everything re-release the same game every year just with a different title and people will buy it and buy it in droves and they'll make a ton of money off of it and then they can shove in all these micro transactions and and um all these kind of loot boxes and stuff like that and people will still buy it so when you kind of like look at it from that perspective i actually get why gamers would be pissed off about those sorts of things but i haven't seen the same pushback for something like this because it's kind of like already expected that you know you you kind of like fork over

money for these license kind of things and you get these things you know whether they be physical collectibles or comic books or anything like that um and now you can get the digital version of it so but still you know there's also the kind of like uh things that people hate about nfts that are uninformed like the the energy use and stuff like that like the um people thinking just nfts outright are a scam there's all those things that persist but i think when it comes to the gaming community they're very very sensitive to the these sorts of things around kind of like monetization and they really are sick of being taken advantage of and to be honest i mean i used to be a pretty heavy gamer i got sick of it really quickly like the the fact that mobile gaming just got to a

point where it was so bad where all the games that were like the biggest games were just stuffed full of micro transactions like i'm sure some of you have played these before where you basically build up your village or your town and then you kind of like hit a limit where unless you spend money it takes forever to do anything like everything's time gated and that bled out of mobile gaming into other games because these video game companies were like wow these mobile games are making so much money why don't we kind of like take their strategies and put them in our games and it's just watered down the whole experience so i actually totally understand why gamers are very sensitive to this sort of stuff uh and you know if i was still a big gamer i probably would be too but at the end of the day i don't think you

can blame nfts for that i think you just have to blame the company like it's it's misguided to blame nfts because nft is just a tool right it's just something that people can use to achieve something whatever they want to achieve and video game companies can do it in a good or bad way i mean indie games can do it to raise money to develop their game like they can they can play it really well really nicely like that but aaa game companies you know it's just feels like a catch grab right but anyway that's a little rant then just something that i wanted to talk about when it came to nfts because i think when you look at it from that perspective you can kind of understand why people get get annoyed at those sorts of things and it's not all just kind of like them

being misinformed or being uneducated it's kind of like that historical context behind it that dictates how they feel about it there but anyway still really cool news from immutable here about these economy nfts here i'm curious to see how that plays out over the coming months and how many new people are on boards as well and speaking of immutable they have a fiat on-ramp now live with moonpay now you can basically make instant credit card purchases of layer 2 eth with zero gas fees of course powered by moon pay now i checked this out before unfortunately with these kind of like fiat on-ramps there's so many limitations the biggest limitations uh i mean the two biggest star is kyc um and the

second one is the fact there's limits on how much you can kind of like uh at purchase at you know over certain periods of time i mean i get why they do that it's probably not in their hands to do it they have to follow financial regulations which as you guys know i think most are kind of like total but it's a good step forward like it's a good step forward until we have centralized exchanges doing direct onboarding because those are the real kind of like uh hubs where people can basically you know request to get their limits increased and stuff like that uh and basically not be limited to maybe even just buying a thousand dollars of eighth kind of like in one transaction have to wait like a week or something um and then also it's funny because the united states i believe is kind of

like one of the countries moonpay doesn't actually support either so it's just i mean i mean i say funny but it's like not funny in a haha way just finding an oh my god like come on guys but uh there wouldn't be that problem if like coinbase had a direct bridge from their exchange to immutable for example but still this is cool this is still really cool this is still really good for for users it's better than what was available before but i really just hope that the i guess traditional finance scene with regulations gets a lot better so that we can have a lot more a lot a lot smoother onboarding experience and don't have to have all these limitations which obviously are pretty crappy at the end of the day all right so coinbase wallet uh tweeted out a guide today of how to basically

get started with polygons pos chain using the coinbase wallet so the chromebaseball is separate to the coinbase exchange of course you can get it as a web browser extension or as a mobile wallet app and once you do that you can actually switch to a bunch of different networks not only the polygon pos chain but i believe they also support optimism um uh phantom binance avalanche and arbitrary as well so you can see the kind of like list here which is really cool so this guy just basically tells newbies how to do that i i mean i know probably none of you require a guide like this but the reason why i wanted to highlight it is because this is what we need as well not only do we need coinbase to be supporting l2s from an infrastructure perspective we also want them to be supporting them via

an education perspective because there are so many people that have absolutely no idea what an l2 is what scaling solutions are they have no idea that they um kind of like can live on ethereum and they can do everything they can do on ethereum with the cheap fees uh and that's what coinbase wallet in this thread is highlighted here which i which i really appreciated so you can go give this a read if you want as i said it's probably not going to be news to you guys because you're more advanced users but still um this is definitely cool to see all right so an update here from superfluid which is uh a kind of like team building programmable money streams on ethereum they announced today that super fluid is coming to optimism and arbitrage the test nets are already available at app.superfluid.finance with a built-in faucet for test eighth

and tokens now i'm super excited about this for two major reasons first one i have said many times before that use cases like streaming payments donations um kind of like uh small amounts of commerce they cannot happen on layer one they completely priced out of layer one they're uneconomical these things need to get to layer two well here we go here we are they're on layer two like that's just testing it right now but i'm sure mainnet is coming soon they're there they're working uh uh and and kind of like there's users there to use them as well and the second major reason is because once these kind of like primitives go on but get onboarded to these layer twos you can start building things off of them like there's plenty of apps that can tap into these

programmable money streams and there's plenty of use cases as well that can tap into this sort of stuff so once that once that infrastructure's on there it just makes everything else a lot faster and a lot easier you know i've mentioned before how one of the major infrastructure um plays that that a lot of apps have to wait for before they can deploy to a chain is the gnosis safe multisig because a lot of teams use that to manage their treasury they use it to manage the actual application itself and and um kind of like paying out to contributors and stuff like that so once that's live that's kind of like a big supporting infrastructure and i think that money streaming payments is is another one right so very very cool to see this very excited about it as you can hear in my voice um and i mean i should disclose

i'm i'm a small investor and super fluid but for for the reason of that i'm excited about it right like you know it's always funny when people kind of like say to me oh you're only talking about it because you're an investor i'm like well i invested because i'm excited about it right like i wouldn't have invested if i wasn't excited about it like i have plenty of things that i haven't invested in because i just didn't see the value proposition um but for for streaming payments i definitely do like i'm a recipient of streams of payments or for various different things out there and it works really well um you know on layer one it obviously doesn't work as well as it once did because of the high gas fees but at layer 2 it's just it's literally going to be amazing like imagine having so

let me give you a use case here because i want you guys to really be as excited as i am about things like this imagine you are getting paid and you want to get paid more than once a month or once every two weeks you want to get paid continuously and you want your your kind of like money to stream out to you say you're getting paid like five thousand dollars a month for your work just as a random figure there now let's say in uh you know divide that by kind of like um four weeks and then every week you're gonna get like i don't know just over a thousand dollars like 1200 1250 or something like that and then imagine being able to automatically from that stream have that direct to a yield farm so you can be yield farming you don't have to worry about this by

the way this can all be automated so every time kind of like your your pay comes in you can set it up and you can be like okay on the first day of every week take this and deposit it into this yield farm so i can generate a yield on my dollars and you could do that any any kind of like point in time you could do it daily if you wanted to obviously on layer two it's it becomes economical to even do it hourly right because the fees are so cheap but you know it depends on the frequency you want to do it at so say let's say you did you did it daily so that means that you're basically capturing the maximum amount of yield that you can uh with your kind of like pay you don't have to wait like two weeks or a month

for your pay to come through before you can start generating a yield on it and you can even take this a step further where your employer could just pay you in these kind of like things like they can stream out to you the yield bearing tokens to begin with so they could actually be earning kind of like a yield for themselves or maybe for like the treasury right and then they stream it out to you and then the yield you get the yield portion of it with your pay and then you can kind of like withdraw that if you want to you know if you want to take it out of crypto and go to fiat so when you think about it from that perspective and then you think about all the legos that can kind of like connect together there it gets super exciting like that's the kind

of stuff that excites me so that's exactly why i'm excited about something like this because now by being on optimism and arbitrary all the apps on there can tap into superfluid and be able to do what i just described and beyond i mean what i just described is a very basic use case you can just kind of put all these legos together and make some kind of like frankenstein of a thing that just like delivers incredible amounts of value to to the users so so yeah anyway enough about that few other updates to get through before i wrap up today's episode so balancer labs announced today uh the launch of ave boosted pools which offers increased yields greater capital efficiency and deeper liquidity so basically the benefits uh is deploying underutilized liquidity in rv to earn an

additional yield increased gains from money markets and cost efficient wrapping unwrapping of tokens during a swap so as i described here lending protocols can be expensive to join or exit booster pools is a game changer for both traders and liquidity providers looking for deeper liquidity efficient integrations for liquidity and higher yield so you can go read the blog post for a full breakdown of this they have a cool little video here as well you can watch if you want to it'll be linked in the youtube description of course um but this is cool like balancer has been quiet for a little while i believe they're not really in the news cycle too much neither is aved to be fair like it's funny how the news cycle tends to kind of like jump from ecosystem to ecosystem and you don't hear about things for a little while

then they'll come out with like a big release and everyone will be talking about it so so it was cool to see kind of like um how balancer come out with this uh and kind of like offer this kind of feature to users and increasing kind of like yield on the liquidity as well and this is another thing that could be coupled with superfluid for example right you could just do this where essentially you have like money just flowing everywhere in like that's why it's called superfluid because the whole point is to have money flowing everywhere across kind of like the d5 ecosystem so so this is another thing that could take advantage of that so um basically you're gonna try it today i mean it's live on mainnet you can go check it out but here they describe like how is this different like how are

boosted pools different what's the actual value prop and i'll just kind of read it out they say curve has pools where all of the pool tokens die usdc usdt etc remaining curve and the a tokens adai ausdc cetera trade in the pool the that pool deposits all of the tokens in rv and each swap must go through wrapping and wrapping which adds to the gas cost of trades with that pool boosted pools are innovative and that they keep a small percentage of the tokens in the pool so not every swap needs wrapping unwrapping making balance liquidity much more gas efficient while still being capital efficient so that's kind of like one of the main main kind of like use cases there which is really cool obviously you know who doesn't want to who doesn't want to save on gas fees um and and given you know

the way balances architecture works boosted pools are a series of nested pools where each parent pool holds the bbt or balancer pool tokens of the child pools pre-minted bbt combined a pbt bpt combined with balance's architecture of multiple hops allows for a very gas efficient system for swaps deposits and withdrawals so that's kind of like uh the biggest kind of value prop there is the the cost savings but also the increased yield as well from from this but uh yeah i mean i love seeing this you know the funny thing is that you may be thinking ah who cares about increased gas savings on layer one like i'm on layer two like whatever this applies to layer two as i've described before like of course it does on the ebm compatible networks especially all these improvements and optimizations apply just as much to layer two as they do to

layer one like layer two isn't free guys i mean optimistic roll-ups still cost a few dollars to transact on them so anything we can do to save gas is a net positive so don't just think that gas savings are a layer one thing they're definitely a layer two thing as well all right speaking of avail stanley put out a tweet today where he said after testing ava v3 i am fully in love with l2s this is i mean this is awesome awesome signaling for two reasons one ava v3 seems to be coming very soon or deploying very soon we already know kind of like the details around it and two it seems to be coming to l2's quite soon as well so i am super pumped for this i mean i want to see avery on arbitrary and optimism because money market is kind of like the one of the um

the most important uh apps that needs to be deployed to a chain for it to really take off and once it is i think we're going to really see some nice arbitrary optimism adoption because you're going to have uh the money market you're going to have the amms and you're going to have like the yield aggregators and things like that and there's going to be a lot of people that migrate across for that because they can actually use it instead of uh being limited so very very much looking forward to seeing v3 deployed there and v3 also comes with a host of its own features as well which is super exciting so definitely looking forward to that so diversify announced today that the diversified platform has successfully upgraded to starkware's stockx v4 so this upgrade now means all users can enjoy a massive reduction in fees when

they onboard on to diversify so you can see here 100 cost reduction for polygon onboarding 42 cost reduction for the first eight deposit from ethereum and 33 cost reduction for any other erc 20 token those are pretty big savings guys i mean 43 2 and 33 um obviously polygon onboarding is much cheaper because probably going out one fees are cheaper but from ether1 42 uh cost and reduction on eight deposits and 33 on any other esc20 token that's huge that's an absolute huge improvement so very very cool to see these from diversify um as part of their stockx v4 upgrade if you've been waiting to onboard to them maybe now's the time right fees are cheap these are cheap in general i mean way right now is about 56. i've seen it going to go down to

like 30s recently so yeah probably the best time to get onto l2's right about now that's for sure all right finally here just a shout out to slingshot who announced their genesis dropped today so this is called slingshot 2019 2099 which is uh they're dropping 10 000 bags of nft wearables to their users and community so 10 000 bags january 2022 on polygon so details below here so you can mix and match between 100 unique wearables for these nfts trade on the marketplace unlock social features in slingshot and uh kind of a bunch of other things here the reason i highlight this i don't usually highlight nft drops but the reason i highlight this is because they're trying to do something different slingshot here right people are probably like oh you know

when token win airdrop when this you know when buying ends um whereas slingshot's like well i mean let's just do something cool let's do something different let's make some nfts for our community let's drop it to them let's do some kind of like mix and matching with unique wearables let's give our community an identity right because slingshot has a really cool brand identity so let's bring the community into that let's give them a piece of it um and then maybe a token comes later i don't know who knows right like um but the token doesn't really give the project an identity a token is just kind of like a stock in a company really the company's culture or the the app's culture the dao's culture is is very different to to what the token is so that's why i wanted to kind of highlight this but i mean just generally it's just

really cool to see more experimentations happening around i'm kind of getting community involved in things as well all right so i think on that note that's going to be it for today so as i said at the start uh it's the last refuel in uh in this kind of like study here so i can't wait to see you guys in the new one um but for now you can subscribe to the youtube channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all next week on the other side thanks everyone