SuperRare token, Samczsun saves the day and more - The Daily Gwei Refuel #189 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delegate refuel where recap the latest news in the ethereum ecosystem i'm your host anthony sosano and today's the 19th of august 2021 all right everyone let's get into it so i think the biggest news of the last 24 hours was this white hat rescue uh from samsung at anco uh basically uh i think it was 5 a.m my time around 5 a.m my time uh samsung who works at paradigm as one as a researcher there he's very famous for a lot of the uh critical bugs that he's found different smart contracts i mean i would probably say he is um one of the best if not the best smart contract auditors on the planet in terms of like independent auditors of kind of like finding these these public bugs and things like that a lot of you

will know who samsung is uh works at paradigm all that's all that cool stuff there but essentially at around 5am he put out this tweet that he said just pulled off maybe the biggest white hat rescue ever story time soon now there's obviously a lot of speculation about what uh kind of project this affected um and basically uh there's a few people saying like different kind of like projects here but then i think how long uh later i think just an hour later samsung posted uh his blog post that he put together where he said uh he found a critical vulnerability in sushi swaps miso platform which is like their fundraising platform i believe now the vulnerability itself can is described in this um kind of blog post but what's also described is kind of like how it all played out right with a timeline and

everything like that and they managed to rescue 250 million dollars worth of user funds and what it meant what um samsung means by white hat basically in cyber security or i guess like in the hacker world there is a bunch of different classifications and the three most popular ones are black cat gray hat and white hat black cat is obviously if you're a hacker and you're just in it for profit you you don't care about uh basically um you know anything else except making the making the money and exploiting the platform so that's you know you're a black hat if you do that uh you're a white hat if you uh basically uh if you find a bug and then you kind of like report it or you kind of save funds if that's you know within crypto if that's what you want to do uh then that

you're a white hat and that's why samsung said you know they pulled off the white hat rescue attempt or 250 million dollars because if he was a black cat he could have just stolen that and been on his merry way and then grey hat is kind of like sitting in the middle where it's funny because grey hat's like the what's it's like um where people kind of debate what was white hat what was black hat and if they can't really decide on it it's considered grey hat it's like you know morally questionable that they could have done that they should do that or shouldn't do that so that's those are the kind of like three distinct um categories within that world there but yeah i mean this is the i think this is the biggest uh in terms of white hat effort i think it beats out the dow uh

back in 2016 uh during the dao event there was a white hat uh recovery effort back then as well um but you know i think that was for less amount of dollar in in terms of dollar terms than uh this one was issues with susie schwab pr so or maybe it was i don't know the exact figures but i believe it was less than what um what it was here but yeah i mean really really great that samsung was able to do this because if someone else came along and was a black hat they could have stolen 250 million dollars um uh worth of i think it was 250 million uh or 350 million or something like that um because they mentioned 350 million here and then i saw the 250 million dollar number thrown around uh but essentially yeah i mean it was an absolutely huge

kind of uh uh uh hack uh potential here right because uh essentially as i said like if someone else found this kind of bug before samsung did or whatever they would have been able to steal these funds and you know it's funny because like we saw the biggest kind of like black hat or biggest d5 hack the other day with the poly network thing where it was like 600 700 million or whatever it was but some of that got returned uh and i think i think pretty much oliver ended up getting returned so would that be considered gray hat or whatever i i don't i don't really believe so a white hat you know that's where it gets kind of like funny it's like he's this person a grey hat now because yes they were a black cat because they stole the uh the stole the funds but now they've returned

them in like a white hat fashion so they're sitting in like the middle of the two so it gets it gets a bit funny when you talk about that there but yeah if you want to read the full details you can read uh these blog posts here but i put out a tweet where i said uh you know the irony of paradigm saving sushi swap is why i love this industry and for those of you who don't know why it's incredibly ironic that paradigm was the one that saved sushi swap because i believe if this hack had happened and um 250 or 350 whatever it was a million dollars uh was lost and then essentially that might have been the end of sushi swap maybe not the total end but like it would have definitely damaged sushi a lot a lot of users would have gotten hurt and

everything like that um but the the reason the irony exists is because i mean it goes back to how sushi swap came into existence so i'll go through a little bit of history here so paradigm invested or was the first investor in uni swap in early 2019 they invested a million dollars back then and have been really close to the uniform team and that's been like their darling for for many many years now uh and kind of like they work with that team now obviously sushi swap started off as a fork of uni swap and there's a bit of bad blood between the two teams uh because like obviously unisop doesn't like the fact that uh the way sushi swap was launched was that it was fork and it was a vampire kind of attack on it and then you know there's been a bit of beef on

twitter between uh uh joseph de long who's at sushi who i you know i think i spoke about in the other day um and hayden adams at uni swap and just generally the sushi and uni community is kind of like beefing with each other so the fact that uh i guess like paradigm you know kind of like coming to the rescue of sushi swap pr is is incredibly ironic and and it's pretty funny but i guess at the end of the day the fact of the matter is these people are professionals or they're not i mean yes there's beef yes there's kind of like a little bit of bad blood but it's not enough to push them to the edge of like being a black hat black cat or whatever and samsung i don't think would ever do that like it's just funny because like everything

he has done has been white hat and it just it's it's so incredible that he's a white hat and not a black hat because he could make you know so much money just uh going through these exploits and basically exploiting all these protocols or whatever but i think that kind of game is reserved for a special kind of personal group i think samsung is definitely very different in that regard but yeah that's kind of like the breakdown there of the story and why it's ironic um and i'm just really glad to see that these funds were saved i mean none of my funds were in there but maybe your funds were but essentially it's always very scary when like something that's considered a top d5 project has like a bug like this in it and that's why you know you see a lot of these defrag projects they don't

really introduce new features too often and they move quite slowly when they do i mean rv v2 took took a little while to come out but also it had like five separate audits on it that i think they had like controlled um and measures in place for various different things i think they definitely uh uh you know took their time there and it's not just them as a bunch of other kind of pro protocols out there now not to say that the sushi swap team didn't take their time and try and get this stuff audited or looked at and things like that but still things can fall through the cracks and you definitely want to have guard rails in place because uh for that reason and that's why i've been talking about these layer twos that have got they're gonna have guard rails in place as well like

arbitrary optimism going live uh you know optimism right now with unisof v3 is limited to 50 000 transactions per per day right um so they're not obviously offering up the full scalability there there's admin keys in place they're the only ones running a sequencer uh same with arbitrary that's going to be this kind of kind of same play there but it's all done in kind of like the spirit of user security which i think is very very important so yeah there's the story of what happened today with sushi swap and paradigm so i was asked by matthew graham in the delegate discord channel to kind of like cover a little bit of uh i don't know if i'd call it drama but a little bit of changes happening within the index club community or at least propose changes now um for those who don't know i got a

pr i got to like i have a disclaimer here i am an advisor to set i used to work at set as a product marketing manager and set is the original team along with default polls that launched the index co-op back in september i believe i was part of that launch effort because i was still working at set back then and as i am still an advisor and of course i hold index tokens i have you know conflicts of interest out the wazoo here with this sort of stuff but i was i was asked nicely by matt to to cover this and try and be an objective as possible so that's what i'm gonna do and you're gonna you're gonna know why in a sec why this is kind of like a sensitive topic so essentially um a little bit of background the index co-op community

seems to want more autonomy and what that means is basically they want to be able to do more as a kind of like separate thing to set they don't want to have to rely on set uh the the core team at set to do things like engineering work and all that sort of stuff they don't want to have to kind of go to for them to for permission or like sign off on things they want like full autonomy and it's funny because this this kind of like reminds me of how you know certain countries like break apart from uh i guess like the people who founded them so for example in australia we were kind of like um colonized by uh people coming from the uk right but then we eventually broke off from them because we wanted to be our own kind of like sovereign nation

um and it's kind of like the same thing that's happening here right where the index cop is basically saying well yes we know the set was like the founding fathers so to speak of this kind of movement here or this you know this kind of protocol but we want to kind of like have more autonomy we want to be our own thing we have all these community members all these people and we don't want to have to rely on set as like our governing body for example right so that's kind of like what this post goes over and i'll leave this in the youtube description you can kind of um go through this and go through the comments and everything like that but as like i guess i could follow on to this uh there's been a uh kind of like uh a a a thing here of um actually within kind

of like this part of the autonomy stuff here was also the idea of i guess like fairness and the fairness of the token distribution and that's what matt graham has gone through here where he basically says that you know set labs having 28 of the original index cop or index tokens is is an issue because of the fact that is that fair like it is set doing 28 of the work are they responsible for 28 of the index co-ops uh continued success right especially if they're going to take a more hands-off approach which i haven't like i'm not you know too close and bet and to on the metal with this sort of stuff like i'm not like uh in in the kind of index club community day in day out i do follow this as much as i can but essentially you know what what the kind of like the

issue is that set is is definitely you know or at least what the index community co-op community is saying is that set is definitely not providing 28 percent of the kind of like value here now i don't know if that's true or not like uh i as i said i'm not like uh up to up to speed with the data days of everything here but essentially what matt has said is like we should basically renegotiate what set labs a share is of the total index tokens and i think you know he's gone through a detailed analysis here and detailed description of why he thinks that the this kind of like new uh distribution would be fair around stuff like that and he's and he's basically put in this new distribution set labs would get uh 14 of of the tokens instead of 28 so basically halving their allocation here

the uh and then a bunch of other kind of like allocations uh as i think the rest of it pretty much stays the same like dfi pulse is two percent like the original kind of thing but essentially what happens is that the 14 that goes from set labs goes to a community uh kind of i guess like um portion which is fourteen percent and vests for one to three uh invests over one to three years now there's a poll here for like soft signaling from the community it seems that pretty much everyone is is in favor of um kind of like some kind of i guess uh redistribution here or at least revisiting the genesis kind of distribution and changing it or making it a priority in q3 and all that sort of stuff there so on that note there was a protocol ownership kickoff group that

has been formed a bunch of authors here very active community members in the index co-op and essentially what they want to do is they want to i guess like bring all of the key stakeholders together and come to an agreement with set the index corp the community members all that sort of stuff on the best path forward here now um they've got like the proposed next steps of what they want to do here uh the proposed action is forming this uh kickoff group and to form it correctly they need uh a bunch of different people from different groups so they want to lead so this lead that they want one unbiased third party who is obviously doesn't have conflicts of interest and or at least it can be as unbiased as possible with index cop and set um and they also want three

community contributor representatives uh so you know anyone from the index co-op community especially the active members and one set labs uh representative as well so if you know anyone or maybe you yourself think that you could fit in any of these positions uh definitely kind of like get involved here either on the forum or maybe even reach out to matthew graham he's pretty active in the in the delegate discord channel there um but like that's what they're kind of looking for and i just wanted to give a shout out there that that those kind of positions still need to be filled especially this lead position like of an unbiased third party someone who doesn't have i guess like a skin in the game with either index cob or set and doesn't have like a bias to any kind of like a team or or project or

whatever and it's just coming at this from the angle of okay like how do we make this the most fair for everyone and you know i'm not going to give my opinion on what's fair here what i think about this just because i can't be unbiased at all here i guess i said i'm an advisor to set i hold index tokens i was part of launching index co-op so i have like skid in the game in both kind of arenas here um and through my advisory with set i obviously have exposure to set the you know set the company right and by proxy have exposure to set labs a share in index co-op um so yeah i mean i can't really give my opinions on this in an unbiased way but what i will say is that i actually think this is just a natural evolution of a

doubt because if you are a dow that gets launched and you have all these community members that come together and they end up just doing more work or at least like an outsized portion of the work and then the original party says okay well you know we're going to take a step back we want the community to be on more autonomous well to do that you not only have to have i guess the social aspect of the community aspect to the organizational aspect you also need the monetary aspect because at the end of the day if if a portion of i guess like a dao is feeling like they're undervalued or feeling like they're not getting what they do well they're either going to leave or they're going to uh you know be angry or grow to resent a certain party or grow to resent

like another kind of like portion of the dao and this doesn't just happen within daos right this happens everywhere like if you're working a full-time job and you find out that your peers who are doing the same same job as you right are earning say like 50 more money than you each year well you're going to be like wow wait wait this is this is this is shitty like i'm doing the same amount of work as these people i should be valued the same as them and then this is why people kind of leave companies or they try to get like a pay rise or whatever like i experienced this especially in the corporate world usually to move up in the in the corporate world you have to keep changing companies and i mean might move up with kind of salary because negotiating a pay rise is always really

hard um and it's just like really disappointing that that happens but that is the reality of the of of the situation and that i that is i think what happens with within daos and what we're going to keep seeing within dows is that the original team shouldn't be getting like a huge portion of it if they're not putting in the work to do so and it's kind of like a diametrically opposed thing right where the original founding team started the dow because they wanted it to be a community-owned thing they wanted it to be a global organization with you know hundreds potentially thousands of people participating actively within it to to grow whatever the project is but at the same time you know they uh uh for that for that to be achieved they have to take a step back they can't be i guess

like the the kind of like uh you know ceo cfo ct like the the leadership the executive uh kind of branch of it they have to be just one kind of part of the dow and to do that they need to do that socially but if they do that socially and and and with their kind like with their actions they also have to do that with uh their kind of like share of the pie because uh and like not not not not in this scenario but just generally you know if you're not doing a x percentage of the work then you don't deserve x percentage of the rewards it's kind of like how i view it now i don't know you know as i said i'm not like up too up to date with the data days of the index cop and even set like i i still an advisor to them

but like advisor doesn't mean like i pay too much attention uh you know to them every every single day uh you know i it's so much to keep up with i can't i can barely keep up with uh kind of stuff for the reef you'll let alone that but generally um i'm i would say like this is the only thing i will say is that i'm i'm for this kind of discussion and i'm hoping that it comes to a conclusion that satisfies all parties and you know at this point in time it's definitely looking like um you know 28 maybe is too high maybe not who knows but if you know if if set really is kind of like not doing 28 of the work well then yeah they don't deserve 28 of the reward but at the same time this sort of stuff happens in in

startups all the time as well where uh you know people either kind of like leave or they end up doing less work and the company gets bigger and you need to redistribute the rewards essentially because as i said if someone is doing uh the outside portion of the work and they're not getting an outsized portion of the reward they they usually leave or they usually kind of um you know grow to resent something or essentially become like disgruntled and it's funny because this isn't just like unique to the index cop or like dows in general this this has played out you know many many times throughout throughout history like not even just within crypto but just like speaking from personal experience it's funny for me because like with me with ethereum for example i got in like i mean not late late but like early 2017

i bought my first eight or ten dollars i didn't buy much because i didn't have much money back then but you know i kept buying on the way up and things like that but there were plenty of people who bought you know at the ico they bought at a dollar whatever and they haven't contributed nearly as much as i have to ethereum and yet if they had held their eighth from there they would have like much more of a share of the pie than than i have had but the thing is is that it's not just i guess like your eighth holding it's everything else that comes along with it right but within a dow like ethereum is like a big ecosystem obviously there's a lot of moving parts to it there's a lot of other stuff that goes on there but within like a dow like the index co-op

and if you're directly paying these people to contribute and it's their actual kind of like full-time job to contribute to the index club community uh they should get a share in it like just like you would get like an equity share in a startup if you were one of the early members there you should definitely get a share in the i guess like equity distribution or the token distribution whatever you want to call it so yeah i'm looking forward to seeing how this pans out and and seeing what the kind of like i guess what everyone lands on here but again i i just like a shout out that they're still looking for a lead which is an unbiased third party uh three community uh contributor representatives i'm pretty sure these will be easy to find there are obviously a lot of really great index club

community members already and then one set labs representative i don't know who that's gonna be uh maybe it ends up being me i don't know but uh definitely uh you know the set labs team is is pretty big now so i'm sure they'll be able to find someone there but anyway i'm gonna leave it at that foot for now hopefully i covered that uh uh quite well uh and kind of like explained it from an unbiased view as possible as i said i'm involved with like a lot of moving parts here but still uh really i guess like it's still cool to see these things playing out because at the end of the day other dao's can learn from this because i'm sure other dows are going to run into these kind of issues i mean we saw it happen with year and finance even where

a lot of they ended up printing more wi-fi tokens because essentially what ended up happening was that andre launched the protocol but all the tokens were distributed within the first two weeks and that left none for kind of like paying out early contributors and what ended up happening is what that is that they had to rely on fees being generated by the protocol to pay contributors and it wasn't enough and you know they weren't rewarding people what they were owed and then they just ended up printing more maybe that's what happens with index call who knows but i think that uh what they proposed here is probably the better course of action like read you know redistributing the rewards sharing the love a bit more than just like printing more tokens but we'll have to see how it shakes out there so speaking of the index cop uh there's

now a proposal to list the default polls index as a collateral asset on uh on our protocol here so essentially you can go to this aip or rv improvement proposal and vote if you have uh and there's a link in here uh to vote oh sorry the vote is out not not in the governance post the vote is here which will be linked in the in the youtube description but essentially you can go vote and and kind of make your voice heard that you want the default pulse index on are there uh and i mean you know as soon as says here the pros are potential access to 12 000 uh dpi dpi holders essentially unlocking basket liquidity because the dpi is obviously a basket of other assets and collects twenty percent reserve factor to avedao cons multi sig

on minter but restricted by the consent of either index cop and set labs yeah einstein says he's voting yes and you can see here i mean pretty much everyone has voted yes uh so far uh zero uh tokens have voted no and this is just a no-brainer for me i think dpi is an amazing collateral asset it has awesome liquidity on on decentralized exchanges it is made up of a lot of the top kind of like defy protocol tokens out there and as stanley mentions here it does have a wide holder base as well so yeah if you hold io tokens go vote here but it seems like this is going to pass anyway so a few core dev things to actually get through or core ethereum protocol stuff that i wanted to get through the first is from nethermind where they've said the wait is over warp has arrived and

warp is an evm to cairo transpiler now i've been talking about how starkwear's stark net is uh kind of like running on cairo their new smart contract ling language they didn't just like pull it straight from solidity to uh to start net they've gone with creating like their stack os and their cairo language because they believe it's better or it's it's like it kind of like does a lot a lot of things better than solidity and what nethermine has has developed is a way to basically transpile your uh i guess like solidity erc20 contract to cairo and then deploy that on stock net which i think is i mean super awesome right like this just makes developers lives a lot easier it means that they don't have to rewrite their contracts or uh you know from solidity to cairo they

can essentially warp them i guess like in a way by uh transpiling them using this transpiler that's uh that's called warp from uh uh from nethermind here and for those of you who don't know nethermind is an ethereum uh core a dev team they built the nethermine client which is a really great theorem one client so definitely go check that out but there's actually a demo of it now so you get a demo of transpiling an ese 20 solidity contract to cairo and deploying it to stocknet it's all on github here so if you're a developer you can go check that out but essentially i think this is really cool because it shows that while ethereum layer 1 may be limited in what you can do because it's got just the evm there and it's got solidity i mean there's other languages like viper

and stuff like that but generally it's not like super flexible at layer two you can be as flexible as you want because these layer twos as long as they're posting proofs to ethereum layer one they can get away with doing whatever they want at layer two if constructed correctly they can have different virtual machines if they want they can have different smart contract contracting languages they can have different architectures all together as long as they can still talk to ethereum layer 1 to post that proof and as long as they can transpile things and be able to read the l1 kind of like balances and state to get users onto layer 2 then they can essentially do whatever they want which i think is really exciting because it means that we get essentially what was discussed uh which was um

it was just part of the e3 roadmap for a little while but it got it got kind of like i think scrapped eventually because we figured it'd be better to do this at layer two but it was this oh man i can't remember what it was called there was a specific name for it which was essentially uh describing what i'm talking about but doing them on shards instead of doing it at layer two but essentially you can do the same thing at layer two uh oh that's right they were called execution environments and which is basically this concept of on on different shards you could have a different execution environment on each shard and be able to do all the things i mentioned like code smart contracts in different languages have a different virtual machine not just the evm and all that sort of stuff there so it's really

great to see that this is happening on layer two starkware i mean obviously one of the best uh layer two teams out there stocknet's gonna be really big i think you know starkness pretty much gonna be there generalized uh i guess like layer two platform similar to optimism and arbitrary but built on zero knowledge uh roll-ups instead of optimistic roll-ups or zika wraps so yeah really cool to see this i'll link this in the usual description you can go check it out and read all about it so speaking of i guess like eth2 and kind of like what's happening there and all the kind of like execution stuff proto uh put out a tweet thread today discussing i guess like this is really kind of like a technical low-level kind of protocol stuff but essentially what he's saying here is that uh i'll write out his tweet

he basically says uh execution consensus api for just the merge why not for wall ops 2 same api which basically means you can have an evm compatible roll up plus fork choice block exertion a block insertion api plus api caller um equals uh it's all greater than a client agnostic roll up uh so basically what this means is that you can have a roll up that is agnostic to two different kind of clients on there whether that be like e2 clients or whatever um and then he goes on to say multi-client state sync proper state database transaction propagation extended client apis all for free uh this is very technical stuff i'm not gonna go through it all now um i probably won't even be able to do it justice because i'm not that technical but um and then he goes on to talk about

sharing here when he says and then this gets even better with shard data scale capacity for rollups 10 to 100 times yet zero new execution requirements uh no explorer execution client evm tooling aside from the merge api from r uh plus roll up worker mode no sorry not mode here um and then uh he gives us kind of like an example here where essentially your data transport layer can come from uh from optimism uh or shard node uh future of eq obviously pulls in the transactions or blocks uh loop over confirmed data and state routes call execution consensus api to insert blocks verify resulting state routes and ad finality et cetera are supported by api out of the box so this is basically the

life cycle of like a transaction getting verified by the beacon chain as i'm understanding it here um and then rollups can be so much more useful and sustainable with the native evm networking client optimizations updates and infrastructure and then this was really cool where he said d5 lego blocks are cool but have you ever thought about composable protocol lego blocks um and then he goes on to describe that here i'm not going to read through all of them you can definitely go read this but essentially i think what he's describing is like a standard for roll-ups and i guess like the layer one sorry layer one and layer two to kind of like communicate with each other and verify each other without having to kind of like reinvent the wheel essentially that's what i think is happening here i've proto if you're watching this please correct me in the

comments or whatever or anyone else like who understands this probably maybe more than i do definitely you know correct me in the comments if i got any of that wrong there so a chains i a chainsafe sorry chainsafe's loadstart team has released its official light client prototype which cuts bandwidth and processing load by about 99 and makes ethereum as light as ever now for those of you who don't know what light clients are it's kind of like this uh i i guess um this kind of like concept of can we uh allow users to kind of like verify the chain but in a really light way uh essentially like instead of running like a full node they can just run a light client and still have you know i guess like probably not like full tr fully trustless uh kind of um uh access to

ethereum but essentially like uh up to a point where it's just very easy to kind of verify that everything's running you know correctly at the end of the day uh and you know chainsafe goes on to say you know why does eth2 need light clients and they describe it here where they say ethereum consists of thousands of nodes running various clients clients differ both in terms of the language they implemented in and their size running a full client on eth2 means that you have to download the entire eth2 blockchain this is prohibited for many environments and unnecessary for certain use cases for example a full node cannot be run on a mobile device device hosting a trust minimized wallet there are also many use cases that simply want to read small piece uh read a small piece of some small piece of the chain for example

fetching a recent validated balance or hosting a metered vm virtual machine for a blockchain bridge instance such as chainbridge in these instances a light client is sufficient and preferable to a full client in order to retrieve the latest state ethereum full nodes must download the genesis or other beacon state and download and sequentially process every canonical block from start to finish using light clients this bandwidth and processing load can be reduced by a 99 here so essentially yeah i mean this is things for like mobile devices and and making it so that you can have like your own little light client on there to verify the integrity of kind of like the blockchain without having to to go through like a whole full node sync because obviously on your mobile phone you're not gonna be running a full node on it and being able to run like a light

client and still get that kind of like assurances or at least similar assurances that you would get from like a full node is very very important now this is described in detail in this blog post so i'll let you guys go check that out i'm going to power through the rest of this as we're running out of time here um bartek uh put together a really great thread on l2s where uh today where he said after long discussions we at l2beat.com ended up with the series of questions that we hope each rollout provider will be able to answer so that users will be able to properly assess the risk of their funds deposited into the roll-up and he goes through a bunch of different things and you know these are all the kind of like things that all the roll-ups need to be able to

either answer or give like a i guess a stated plan to about how they plan uh plan to either decentralize these kind of functions over time or you know the functions being like the sequences right obviously the block produces we want more than one because if there's only one sequencer that sequencer can sense as many transactions as they want which is obviously not ideal and also um things like admin keys and all that sort of stuff definitely want to be able to uh kind of like get that out there but other questions also uh that bartek have come up with is like are you using validity proofs or fraud proofs to secure on l1 to secure the state what are the details how can users be sure that you're providing what you claim to be proving um transaction data will be needed for fraud proofs

emergency exits etc where is the data stored what entity sequencing transactions as i just mentioned you know is it permissioned or permissionless blah blah there's all these questions here it's a great set of questions and i believe this is this is awesome i'm really glad that the l2 beat team is kind of asking these and having it listed on their site too because it's incredibly important that users know what trust assumptions they are making when using these rollouts because as i said all of them are going to be or at least most of them are going to be trusted environments for for a while because it's just new technology there's going to be guard rails it's going to be admin keys it's not going to be decentralized just yet but eventually we will get to that state so knowing which ones are at that state and which ones

aren't is going to be incredibly valuable for users i think so speaking of layer 2 rainbow mobile wallet is now supporting a layer 2 network's optimism polygon and arbitrarily probably gone to post chain i should say not uh polygons poisson is not a layer two but the layer two is being optimism and other trim and obviously a lot of us use the pos chain anyway uh so this update allows you to access a whole new side of ethereum as uh as they kind of like put forward here so if you have rainbow on ios the rainbow wallet go update it you'll see kind of like support there and they've got like a little kind of um twitter thread here and a beginner's guide to layer two networks as well and kind of describing the difference between side chains and layer twos which i really really like so

yeah if you're a regular rainbow uh wallet user mobile wallet user uh you'll definitely get a lot of use out of this for sure speaking of late twos again uh alchemy has announced that they are now supporting optimism so alchemy is similar to inferior where they provide node infrastructure to uh kind of like different projects or different apps on on ethereum and on layer twos and now alchemy developers can get access to optimism's massive improvements to gas fees and transaction through port and then you can like start using it by heading here so if you're a developer definitely go check this out and the last thing to talk about i think i'm going to spend a couple of minutes here super rare have issued their token called rare of course um essentially they airdropped 20 of these tokens to

people who had uh either bought um or kind of like sold uh uh art on uh on super rare i should say sorry and you can see like kind of a breakdown here of their rare drop method and the rare token is going to be used as a curation token now for those who don't know super rare is basically a curated art marketplace only around one percent of the artists get whitelisted to end up on there to sell their art so it's really really high quality art and as the name implies it is super rare right so essentially what the rare token will uh kind of um be used for is this uh kind of like space race that they're calling it uh super sorry super rare spaces race or something and basically uh very similar to what mira does with curating uh kind of writers on their

platform you can essentially see this this chart here i guess this graphic here that shows the space approval process where you know space candidates submit proposals community editors and volunteers review them the governance council submits edited and proposals for vote token holders vote and then it's either accepted or denied so i guess like you know curation token is just a fancy way of saying a governance token but i think there's a bit of innovation here definitely and i think it's really cool to see that so yeah i mean if you had ever used super red you've got some tokens waiting for you i already claimed mine and everything uh it's pretty cool to see that you know some of the the big artists on the platforms uh got like a a fairly sizable air drop as well and i i kind of wrote a newsletter about this today called um

culture airdrops where essentially you know the people on here uh maybe they're not even defy users the artists that have been kind of i guess like uh uh uh selling their art on here or collecting the art on there but they are kind of like nft users or they're really into digital art and there's a lot of culture in that uh you know there's obviously defy culture but it's a it's a bit of a different thing there so i called this like a culture airdrop where these people were essentially uh that they were essentially instrumental in bootstrapping super rare and kind of like buying and selling art and being part of the community they've basically been airdropped to these tokens as part of like uh you know setting that culture which i thought was really really cool there but i think i'm gonna end it there

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