Uniswap v3 on Optimism, Set on Polygon and more - The Daily Gwei Refuel #164 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel where recap the latest news in the ethereum ecosystem i'm your host anthony sosano and today's the 14th of july 2021 all right everyone let's get into it so if for those of you who don't know there's actually an ethereum documentary in production right now called the ethereum the infinite garden and you can see here there's like a teaser uh picture put up with a vitalik and ar uh both from the ethereum ethereum foundation of course and i mean i don't think i need to tell you guys who vitalik is um but it's really cool to see that their production is rolling and everything like that uh and the defiant actually did a piece today um an exclusive piece on this documentary and the way it's actually gonna be financed is by selling infinite tokens

via mirror so um basically it's like a crowdfunding documentary via mira which is obviously an ethereum native kind of platform that i've gone through before i mean you guys have seen the beacon book that was on there and stuff like that as well um but i think that's really really cool so they aim to raise at least 1.5 million with a stretch goal of up to three million i mean given its crypto i feel like that that you know that three million is going to get hit i i i i kind of struggle to see why um say it not getting hit but we'll have to see um this crowdfunding will actually begin uh today so um you know as you're watching this you can go do this now um and end on friday july 16th so it's only going for a couple of days here but

as i said i feel like it's gonna the money's gonna pour in quite quickly here which is which is really really cool so um you know and then uh backers will be able to get some nfts as well by by backing here and i'm pretty sure the nfts are going to be designed by people pleaser uh you guys know her she's done a bunch of different kind of things within the ethereum ecosystem she did the unisop v3 nft back in march and and sold a half a million dollars to please adele i'm sure you all you've all kept up with that lately as well so yeah this is really cool i can't wait to see how this kind of turns out um you know generally i i like i mean i liked uh camila russo as the infinite machine the book that she wrote but i think like a film obviously

appeals to a different set of people and a film kind of like is just a different medium so it's gonna have like a different feel to it so i'm really looking forward to kind of seeing where this goes and obviously partaking in the crowdfund as well uh for sure i just want to kind of like see i see this funded see this kind of i guess brought to life because i think it's going to be a good way to get the story of ethereum out there all right so geth version 1.10.5 was released today this is the london hard fork ready version so if you are running again a guest node please do ensure you upgrade to this version so that you're ready for the london hard fork which obviously goes live on august 4th but we're all kind of i guess anticipating and we're all kind of

waiting for so yeah if you run get you should up upgrade and you know there might be other kind of versions coming out before london go live goes live so definitely keep an eye on that but uh generally you know if there's no critical bug fixes or anything like that there might be uh you know i guess smaller bug fixes that may not be be critical and may not require you to upgrade again um but just keep an eye out for that if you're running geth which you know i mean all of you should be running an ethereum full node if you can but you know if you're running geth definitely upgrade it here and i'm sure the other clients have already got uh uh kind of like their versions out their london kind of hard four compatible versions out if not that will be coming out soon

so coinbase wallet uh coinbase announced that coinbase wallet is going to be supporting the polygon network in their mobile app so you can go check that out if you use the coinbase wallet mobile app it's basically um part of the network selection settings here you can see they have supporting ethereum obviously they support optimism as well they support optimism quite a while but now they support polygons mainnet which is awesome and obviously a bunch of the test nets as well for ethereum i think this is so cool because i've said like plenty of times before that layer twos need a bunch of different things to kind of um you know increase their adoption and one of those is centralized exchange support or centralized services a service report and especially wallet support so the uh you know coinbase adding support for for polygon

is really awesome now i know i said layer two's polygons are obviously a side chain but i think that you know uh slowly slowly over time coinbase is gonna add these add support for these networks as they prove themselves more like optimism i'm gonna talk about in a sec they uh they basically launched uh with unisop today and i'll talk about that in a sec but also like they're gonna i'm assuming coinbase is gonna support arbitrom they're gonna support zk sync they're gonna support starkware all that sort of stuff i mean you know it's funny because uh dydx is actually founded by former coinbase employees and i'm pretty sure there's shared investors there and stuff like that so i would imagine coinbase having like a dydx bridge or something or even a bridge to one of the the bridges like connects the hot protocol or whatever

so yeah i mean it's just really good to see them supporting uh polygon and supporting just ethereum based scaling solutions in general um especially the fact that they've had optimism support for quite a while i mean i feel like they're gonna be kind of throwing their weight behind optimism uh because especially because they've got like shared investors that always plays a part whether you know whether we like it or not that definitely plays a big part in this but i think it's just good for the end user at the end of the day so if you want to read about like how they're going to be supporting this and what you have to do to kind of connect to polygon with your coinbase mobile wallet app if that's what you use there's a blog post here that'll be linked in the youtube description for you to check out

and you can kind of see here i mean it's just in the in in the settings it's not too hard to find so if you're a polygon user and a coinbase mobile wallet user you would be very happy with this so speaking of polygon token sets has now launched on polygon which i thought was really cool today so there's actually a bunch of major kind of launches releases raises today i'm going to get through but uh token sets are launching on polygon uh finally you know i i've i kind of i've been helping them along with this it's been in the works for a little while as you guys know i'm an advisor to set and polygon so just some disclaimers there uh but this is really cool uh you know this blog post describes the entire kind of i guess roll out what's happening with it

there's a guide on how to get started really detailed guide actually i really love this it's it's got pictures and everything i mean this is one of the best kind of um user guides that i've seen in quite a while here so kudos to to andrew for putting this together um but essentially you know set is unfortunately one of the protocols that the high uh gas fees on ethereum kind of i guess priced out a lot of users from uh i remember back a little while now when set was doing kind of like the different kind of a range bound sets or like automated rebalancing sets like the the moving average sets and things like that some of you d5 ogs will know what i'm talking about it actually uh was very expensive to mint those tokens uh and it was very expensive to sell those like i'm talking hundreds of

dollars when gas prices were high uh so set kind of i guess moved past those uh those kind of products and have moved into what we have today which is obviously the index card builds on set there's like the default pulse index and and other products like that uh and the fly and stuff like that uh but i think with uh we set protocol being on polygon where the fees are a lot cheaper it's just really cool to see it's gonna be sorry it's gonna be really cool to see if those other kind of sets that we had you know pre-high gas fees come back and come back with a vengeance and people start using them and actually build them out because it's it's basically a permissionless system you can build out your own sets on here you can essentially uh get you know discover sets to invest in i mean

there's all kind of guides here there's even a video guide as well so you can check these out to see everything about that too but yeah really cool to see this uh you know i uh obviously because i'm an advisor to to set i'm encouraging them to also uh explore other uh kind of like scalability solutions as well because i mean i think set is an amazing uh kind of protocol i think the products you can build on there are awesome you know asset management's a huge space but i really hate seeing things limited by gas fees so definitely um you know pushing along uh there myself uh but if you want to experience uh token sets with without the gas fees definitely go check it out on polygon you can even do so using your coinbase mobile wallet app if you want to this is

the cool thing about the fact that you can now use um you know multiple different wallets to connect to to polygon not just having to use something like metamask so yeah definitely go check that out and check out this guide if you need a guide on how to get started with token sets on polygon all right so i think the biggest news from the last 24 hours was uni swap finally going live on optimism i told you guys it was coming any day now i know i've said that for months but it's finally here um this doesn't mean that optimism is open in a public mainnet fashion and actually detailed in their own blog post where they said that they don't expect that to happen this month it's going to be a slow rollout but i think that they've given us uni swap on there to kind of like uh

give us something right give us some something to enjoy to experience and oh man i had an amazing first experience with it i deposited one eighth from my um ether dress into optimism had to wait about 20 minutes for the deposit to clear but that's that's kind of normal then once it was in there i did a trade uh i traded a little bit of eighth to die just like 0.018 right like it's like 16 or something um worth of eighth i traded that uh probably actually probably more than that about 20 so i traded that for for die uh and i paid about 77 cents in transaction fee and um the transaction was near instant so that experience was amazing now you might be wondering wow 77 cents that's still quite high for for a layer 2 transaction and yes it is

now the reason why this is high is because they've actually got a few limitations on on on unisof v3 on optimism here there can only be 50 000 transactions per day on on here now the ethereum network as a whole does over a million transactions per day and that's with the high gas fees now obviously we're expecting layer 2s to do much more than that with the lower fees but the thing is is that the layer 2 still have to pay for layer one security so when you have a low amount of transactions happening you have a low amount of fees being paid which means that it's it's kind of like has to be dynamic where the fees are going to be higher the less users on there but as we get more and more users on there as that 50 000 transaction per day cap gets lifted

over time which they said that will happen more more fees will be generated so the overall fees will go down and i've said this before i've said that high individual fees are bad but high aggregate fees are good and what i mean by that is that me and you paying ten dollars for a trade which is i guess on the low side these days on layer one is bad uh but you know the aggregate fees being ten dollars for like a thousand people say is good so say there's like a thousand trades go through and they each have a transaction fee of like one cent while uh them being ten dollars for those thousand trades is is good that's fine i mean no one's going to complain about that i'm not going to be complaining about a one cent transaction fee or anything like that so that's just

going to happen over time and you know i i think i've been trying to set the expectation on the refuels lately where i've been i've been kind of hammering this point home that the layer 2 rollout is going to be a progressive kind of process it's not going to happen all at once it's not like we're going to have optimism arbitrary and all the other ones go live and then everything's going to be fully decentralized fully scalable exactly what we want it to be from day one no it's an iterative process it's going to take some time i'm it's definitely going to take a few months to enter into a few months at least definitely but it's probably going to bleed into the next year pretty heavily and i would even say even the year after that until we get to a point where we

we have like a fully decentralized system but in saying that i think with cryptoeconomics we can actually bootstrap these things a lot quicker than we normally could otherwise so if say optimism or arbitrary decide to launch their token in the next few months they could decentralize the network quite quickly with with that token they could get they could encourage people to run their own sequences and all that sort of stuff and basically decentralize out the production of sequences that could encourage people to come onto the layer twos through liquidity mining campaigns and all that sort of stuff so yeah i think it can actually happen faster than we think but they are definitely playing it very very safe they even call it like an alpha launcher it's not even a beta launch this is just like the minimal viable kind of uni swap on optimism which i think is still

really really cool as i said i tested it out you guys should all test it out as well it's very easy to get started there's a bunch of guides and stuff like that but when you kind of like think about where we want to be we're still a little bit we're still a while away from that and even if arbor trim goes live with their public mainnet relatively soon which i believe they will and there's going to be tons of apps on there i think they're going to still have like a lot of safety controls in place a lot of uh a lot of um guard rails and things like that and i think that's totally fine but you just have to be aware of it you have to be aware that it's basically going to be centralized it's it's not going to it's going to be at a point where it can

be shut down by a centralized operator or funds can be stolen or anything like that now i don't think the other trim or optimism team is going to do that but i also uh think that obviously we want these things to be decentralized because of we want to resist like nation states and stuff like that so that that sort of stuff's a little while away let me let me put it that way if you want nation state level resistance then you use layer one layer two you're gonna have to wait a little while for us to get there but that's okay i think i totally think that's okay because uh we have to just build it out we have to start somewhere and we are we're definitely starting somewhere by doing this so as i said go check this out i'm glad to see this that this is finally live

but it is just the beginning the very beginning of the layer 2 kind of ecosystem i know we have other layer 2s out there like loopering diversified dydx immutablex there's so many now but in terms of like a wet uh like brand awareness and usage nothing beats unisop right now nothing even comes close to uni swap in terms of usage i mean uni swap uses like 30 of the ethereum network uh i know actually infinity has been using um um more than uni swap lately uh but i'm talking about consistency like actually infinity has been pretty explosive has seen pretty explosive growth over the last i guess few weeks but uh consistently unisop has been the top kind of performer here and axey is also scaling via a side chain called ronin instead of a layer two so there's a few differences there but not to diminish axi infinity's

kind of growth or anything like that but i think that unisop um you know is is still kind of like one of the most well-known if not the most well-known app on ethereum um and axiom probably is a close second at this point i don't know if you guys have been watching what's happening with axe infinity but that has been blowing up like really uh really crazily so yeah but anyway without getting too sidetracked here go check uni swap on optimism out if you haven't yet i'm going to be following this along very closely to see how they kind of roll this out monitoring the growth of the network seeing how much tvl gets locked up i think it's at 1.5 million tbls so far obviously uh you know there's no rush to get to layer two it's just a lot of people kind of like

putting money in to to be a liquidity provider to kind of check it out experiment with it it's going to take a little bit of time to boost traffic there's no liquidity mining incentives as i said there's a 50 000 transaction per day limit so even like arbitrage bots and stuff like that are gonna um you know maybe not not set themselves up just yet still very very early days but we'll see we'll see it play out i think it's gonna grow much faster than people think as as we keep going along with the layer two roll out here so connex network announced that they have raised 12 million dollars and an ecosystem round from 82 leading stakeholders in the space now disclosure here i invested in this round my name is right there as part of the ecosystem and angels kind of a group there

but i mean i can give you my thesis right now why i invested and i've been talking about this for quite a while i think bridges and these bridges between layer twos and different chains are going to be absolutely massive going forward and i've given my kind of opinion on this my view on this uh uh quite a few times already where i i believe that essentially because we're going to have like this liquidity that fragments across different solutions you're going to need a bridge to to kind of like get across them and now obviously there's hot protocol connect seller i mean i've spoken about all of them before uh but there's not just going to be one winner here and i think connext being around for quite a while now they have the most experience in this area i mean they've been around for like

three or four years they've done a ton of different things working with different layer 2 protocols working with state channels like uh all those all that sort of stuff so i jumped at the chance to back back this team here and and they brought on a lot of uh kind of like people i mean you can see here on the picture like the amount of angels they brought on it's pretty crazy i mean or you know the who's who is there basically all the familiar names you guys will know you know ryan sean adams david hoffman eric connor dc investor you know all the people uh i mean there's so many people there but also like the funds and exchanges and and their staking providers as well in there i mean it's it's really cool to see that they've brought on a bunch of people and stakeholders that can

actually help grow the network because you know a lot of um private investing the way it's done is that like some teams will just kind of bring on whoever's kind of like throwing the money which is not the right approach i think and then other teams will basically say okay well how do we get alignment from the most amount of people uh in our current race and can we get them from people who actually will help us along so you know the staking providers are obviously going to help connect with uh setting up nodes and stuff like that and running nodes and allowing people to kind of delegate their tokens um and do kind of like um staking that way and then l2 founders right i mean the next is a and uh is trying to bridge alto's and chains so having our two founders

bought into the vision into the mission is extremely important obviously uh the funds and exchanges at the top you can see why i think one kx led this round but there's a bunch of funds in there that all have various kind of value adds and things like that and then of course all the different angels i mean there's tons of uh i guess uh d5 founders in there like and they said here balancer founders they got stani in there i'm just kind of looking through the list here scott lewis of d5 pulse uh james simpson from m stable i mean there's so many people in there um not just d5 founders but long-term d5 kind of builders or just builders in general so that's what what they what people mean when they say that raising it from kind of like leading stakeholders and getting alignment from people

is that they want to be able to kind of ensure the success of their project beyond money because you can get money from anyone these days if you're raising around i mean i've gone through how much money is in the ecosystem right now you know ready to deploy be deployed it's like billions of dollars but money is just one side of it like you can have as much money i mean i think let me take a step back here think think about all the projects that have raised hundreds of millions of dollars and what what they have to show for it not very much there's tons of layer one projects that have raised hundreds of millions of dollars that have basically gone nowhere like absolutely nowhere and that's because money can't buy you uh a community it can't buy you a network effect it can't buy you connections it can't

buy you any of that sort of stuff what buys you that is allowing people to kind of get to to invest and to get alignment in your your you know your your fundraise and to make sure you're targeting the right kind of people so uh you know i i just thought this was really cool uh obviously disclosure obviously i'm an investor in this but yeah i mean it's it's just it's super cool to see the amount of people that they brought on board here and and trying to ensure that they have the right people on board so hopefully that gives you a bit of color around i guess why people kind of do this sort of stuff in fundraisers why you're seeing like so many people on this board and like all the quote unquote thought leaders and people that are kind of big in this ecosystem

that's exactly why because they're just massive value ads and honestly like i mean not to toot my own home but i think i'm a pretty good value add to these projects i'm going to help as many of them as i can am i always talking to all the products that i invest in uh helping them kind of like source talent helping them with marketing community stuff all that sort of stuff and you know uh typically the checks that i write are quite quite small like i'm not writing any major checks for these sorts of things but i think you know just getting that alignment and kind of like getting me on board to help them with that and having some kind of exposure to their success is like a massive motivator not just for myself but for like everyone involved so uh yeah i'm just going to leave it at

that for now because a few other things to go through here another fundraise superfluid which again i could have participated in this fundraise just another disclaimer there i'm not just talking about this because i participated in them but um i would have talked about them anyway um but anyway superfluid raised nine million dollars from a bunch of different uh funds and investors here multi-coin capital led this round a bunch of familiar faces in there like defiance capital and then a bunch of angels as well uh you know you can see here all the different kind of people that got involved balaji uh david hoffman calvin lou from compound i'm not going to name them all ryan sulcus from asari do kwan from terra so not not even just in the ethereum ecosystem outside of it too i mean enstani i mean of course he's

there he's in pretty much everything and then a bunch of other names down the bottom as well so yeah i mean for those of you who don't know what superfluid is it's basically a they call themselves programmable money streams on on aetherium so i think uh carl samani actually had a good thread i don't know if i don't know if i can find it here he had a good thread breaking it down um in an easy to kind of like understand uh way maybe i'm just quickly scrolling through to see if i can find it if i can't find it it's not a big deal but essentially what superfluid does it it extends what sablia has done a lot of you will know of sablia like the money streaming service it extends what what sablia does and basically makes any kind of value stream programmable on on top of

ethereum uh so they're not just building on ethereum i'm pretty sure they're going to be building on uh different kind of side chains and layer twos as well of course obviously money streaming protocols need scalability because if you're streaming like a hundred dollars to someone and it costs them twenty dollars to claim that stream well i mean that's not acceptable right that we don't want that for sure so um definitely i'm really really excited for this project i'm really excited to see how it goes because i think payments are an under-serviced kind of uh area of of crypto especially of defy i mean i've used sabliar i get streamed things via sably uh whether it's like investments or whatever and it works quite well um you know and and superfluous just taking it to the next level where you can have uh streams but you can have them uh i guess

uh fully programmable so like how you can pro you know how ethereum is fully programmable how easy is how defy he is is basically extending this to two programmable streams of money so essentially as just to give a quick example here you could imagine like you getting a stream of money to you but then you can kind of program that stream to do anything so essentially say the money's coming into you and you say okay well i want to program this stream of money and in a fully decentralized way mind you but i want to program this money to say once i have been streamed a hundred dollars put that hundred dollars into a money market and earned me some yield or put that into year and earn me some yield so that's what that's kind of like a basic example of kind of um how it works

but that just even though it's a basic example just think about how much that basically changes the game when it comes to streaming payments and and kind of i guess like not just payments in general but just like streaming any form of value in general and kind of like being able to move value at this uh and kind of liquidity at the speed that we can move data with like for example to use like email as an example you can program email to do a bunch of different things you can schedule emails to go out you can attach things to it you can uh you know embed things in emails and all that sort of stuff while the same should be true for value and liquidity where you can basically program it to do whatever you want so that's the and and and in the context of streaming payments

and kind of like just payments in general that is a huge kind of i think a huge thing as well i mean you can even do like you can do super complex things you can do like an if this than that for streaming payments as well so if you don't know what superfluid is hopefully that gave you a little bit of an overview but you can definitely check out their website that docs everything and kind of learn about that uh what it is and kind of like how it works and why it's uh what you know why it's um revolutionary or why it's it's gonna be a big kind of a deal uh in um in the kind of ethereum space so definitely go check it out if you haven't yet again disclosure i participated in this round but i did so for good reason i invest in things that

i actually think are cool and i actually think are going to be uh something that uh kind of adds value to the ethereum ecosystem not just investing in it for the sake of it so another project that uh kind of came out of stealth over the last 24 hours is something called nifty island so basically nifty island in their in their tweet here they say they are a new virtual world which is coming soon to make the metaverse a reality and it's called nifty island there's not much information about it but essentially i think the way it's going to work is that is essentially allowing anyone to create their own kind of island or like little island within a metaverse um and kind of like do whatever they want on there bring their nfts into it uh kind of like customize their island uh visit

other people's islands and all that sort of stuff which i think is really cool now i don't know what solution they're building this on i don't know they're obviously not going to build an ethereum's layer one i don't know if they're going to build it on layer 2 or a side chain there's obviously plenty of options out there for them to do this but this will not work on anything but a layer 2 or a side chain it's not working on layer 1 ethereum it'll be way too expensive not scalable enough so if i had to guess either polygon um or kind of like immutable x maybe as the layer two that they use uh but other than that i can't see anything else maybe x die but x dihad doesn't have any kind of network effects here um uh definitely uh a polygon will be the

natural solution if i was kind of choosing a solution for an nft project but we'll have to see there's not as i said not much details just yet but still if you want to kind of keep up with this project you can go follow them uh their twitter handles here links in the youtube description as well uh and you know you can kind of like follow along and see all the updates as they put them out and they've also kind of got a bunch of jobs here too i mean all the teams i spoke about are hiring connex fluid uh unisop's even higher i mean everyone's hiring right now so i mean there's no excuse really if you i mean and and you know nifty ireland if you're not into a d5 you can kind of like go work for nfts and there's roles open here for

like all types of people marketing um devops uh game developers well i mean this is the things like there's so many ways to work within ethereum and whether that be nfts or dfi or anything else doesn't have to be any one sector and there's so many open positions too so yeah definitely go check out their positions at all those teams if you're looking for a job in crypto so emilio from ave is teasing something again loves to tease things i love it it's it's always fun to see what they're up to but essentially he put out a tweet thread here or sorry a tweet where he says to bridge assets between networks side chains and l2 you need liquidity on both sides you know which protocol has plenty of multi-chain liquidity

ave you know which protocol can directly translate balances between chains are there one-to-one a tokens for the win see where this is going so you know i was talking about bridges just before in the context of connects if avec can do kind of this bridging between these different chains on layer twos and side chains and everything like that by using their native token like a tokens where uh it's basically directly translating this uh kind of like protocols between chains and balances between chains this is huge and this again is what i was talking about when people ask me oh is the l2 or sidechain liquidity fragmentation going to be an issue and i say no i don't foresee it being an issue at all because we have the smartest engineers in crypto working in ethereum the smartest researchers

and they're all working on different ways to solve this same problem connex is doing it one way hop's doing in another way salo is doing it another way average seems to be doing it another way there's going to be multiple ways to do it and at the end of the day the end users are going to be the ones that benefit from this so i think that's just really really cool um there's not much more information about this i don't think i didn't see much more in the uh kind of like uh in the comments here but still whenever arves teasing something you know they're working on it because they've i mean you know they're working on it closely too because i remember a few weeks before they announced ibe pro they were teasing it they've been teasing the nft market on rv which you know i'm assuming is going

to go live relatively soon and you know these bridging stuff that they got going on if they're teasing it now then you can expect it sooner rather than later so definitely looking forward to this so uh m stable now has an al usd musd feeder pool live on ethereum on the ethereum main net so if you have al usd and you want to earn a yield honor and earn mta rewards and a share of the trading phase of course you can go check out this feeder pool at this link here it will be linked in the youtube description um you know and i mean i'm sure a lot of you familiar with alusd and how you mint that from alchemix or how you can like buy that on on curve or even within like the m stable feeder pools now as well uh and you know the the apy last time i

checked the apy was okay um it was actually quite high because there wasn't much liquidity yet but if i'm kind of looking here and looking at kind of what the apy is for this pool if i go here i don't know if it's going to show me exactly uh where's the apy yeah 21 to 64 depending on if you boost with staked mta here so very good apy for usd uh uh usd yields here so if that's something you're just sitting definitely go check this out um yeah disclosure again i'm an investor in advisor to to m stable here but uh it's just cool to see them adding more of these what they call feeder pools which allow you to earn a yield on all different types of stable coins i mean it doesn't have to be l usd you can do it for uh busd or even gusd

and there's more coming as well so definitely go check that out if you haven't already all right last thing to talk about here is a little bit of i wouldn't call it drama but something funny that that kobe or crypto cobain posted to the uniform governance forum today as a response to what i spoke about yesterday about how the uni governance kind of got a little bit captured by this uh this fund sorry this defy education fund that uh basically extracted 20 million dollars worth of uni to do all of you know nothing really i mean they said they're going to be lobbying and educating regulators and all that sort of stuff but they're i mean i went over in yesterday's refill there's just not much kind of clarity there but anyway kobe's kind of like post here is more of a satirical take on unisop's governance

and i think the point of it is it's supposed to kind of call out how i guess like i wouldn't maybe maybe broken's not the right word but how i guess dumb unisop governance is right now and how it can be a lot better and essentially what he says is he's proposed to allocate 500 000 uni to create and fund the kobe head shave fund which i thought was pretty funny obviously this would entail shaving of of kobe's head and the funds would be used to cover the equipment and all that sort of stuff uh and blah blah and then he goes we propose the following as the initial committee members mark cuban brian armstrong the guy who's trying to reel ether money i think he's called eddie or something you know a bunch of others here bit for next and or chris black uh you know and

kane warwick and will smith so this was quite funny and you know he's got a lot of attention and as i said this is just basically a way to kind of make fun of unisop's governance process and how uh house like through some kind of satire and i really appreciated this because being australian we love our satire that's part of our humor here and i mean the comments are even funnier like cl he asked are we posting on forums now or i think kobe says no this is a proposal for 500 000 uni please re re-read the post so he's kind of like uh you know just being satirical throughout the whole thing uh and there was i mean there was a bunch of comments around here i was quite quite funny scrolling through uh and then bantek had a pretty good comment we where he said despite the

initial reaction to shrug it off as satire i think this might be a good proposal to activate protest voters and shake up what's essentially being a pretty dead governance token also props for well outlined deliverables and higher than university-grade justification of expenses you have my full support so this was obviously the second part was obviously a jab at the um defy education fund but i think what banter is saying here about activating protest voters and getting more eyeballs in unisop governance is really important because this is how you do it you create something funny you create a meme and that's how you get the most eyeballs and whatever you want to do i mean i've spoken about this countless times on the refuel and in my newsletter where i basically said that memes are the fastest way that we have on the internet to spread information even off off the

incident i mean the fastest way to spread information in general is through the internet but memes do it and do a very good job of it and memes are full of obviously jokes and satire and all that sort of stuff and that's exactly what this post is full of i mean you can see here this post got 6.3 k views i got 49 replies 57 hearts on the original post and this is actually a very uh this might be the most active kind of post on unisop's governance forum i don't know if i can actually see what's the most active but if you go through the rest of them um you know there's nowhere near as active as this even the defy education fund got way less activity than than this than this did and that's because one it was posted by someone who has a very big

following of course that kobe has 400 000 followers on twitter of course is going to get attention but two it was funny it's meme worthy it's satirical it makes fun of of something that's topical right now and gets people more involved and activates them as banteg says so i think this is actually really cool because i've got the conversation started on twitter as well i saw a bunch of people talking about it uh you know all these comments here too which is quite funny i mean fine maddox said you should consider adding 0x to the committee members and then go because i don't know who that is i'm new to crypto so just continuing on with the jokes and the memes here and there's just so much gold in this post i recommend reading through the comments it's quite funny uh but this is how you get the attention

on things and this is how you i guess make fun of things um through satire which i think is really uh really really funny and actually a pretty good way of doing so uh but anyway i'm gonna leave it at that for today because time's up 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