Where Dymension Fits in The Modular Thesis

Transcript

welcome back to the rollup High Roller Community as always nothing on the rollup is to be ConEd as Financial advice we are just an Educators in the defi space toss us a quick like give us a share a repost send it to a friend who may want to watch this and finally give us a sub or a follow it means the world to help support credibly neutral educational content in def5 we're here to educate Empower and enrich you and let's jump in yo what's up guys uh here with isai from diens gotten a lot of hype in the last couple weeks um uh upcoming airdrop for tons of different n communities and uh stakers of Cosmos chains and different uh different opportunities happening in the modular

space so um yeah let's just kick it right off uh here with Rob of course um but we're gonna jump over to isai isai uh what's the state of things at the uh Dimension team um and uh yeah how you feeling yeah yeah hey Andy hey Robbie happy to be here on the rollup things like you can imagine it's pretty hectic it's pretty pretty crazy it's been fun the the fun ride the roller coaster is we're going up and it's uh it's just amazing to see all the hard work kind of funneling down into this point of time so a lot of people right now are like asking me wow Dimension how fast did you build this and I'm like yeah we're we've

been building I guess for two years like heads down just on the tech we working super hard just focusing on product and the tech and how to make our vision actually manifest um but now it's uh it's all coming together so I'm I'm stoked I'm I'm very happy to see the excitement I'm very happy to see like the cultures that that is getting into Dimension and the mind CH like that we're trying to to grasp and to educate about why we're building what we're building and uh yeah pretty exting and like that that's that's really that's really funny perspective because you guys have been building for so long but because you just launched people are like well where did you come from so so like maybe could

could you tell us a bit about like why you decided to launch now and then we can talk more about like kind of the the way that you guys decided to launch but why now yeah that's you know it's it's it's quite an obvious question because uh because the market is is good uh and we've actually we're very close to kind of feeling that our product is is obviously the journey is is you know it's starting right now there's a lot more to build and yeah but in terms of like we've been building for a long time and we felt like okay the market is good and and you know uh we're stoked to see Celestia folks kind of you know releasing their product and their baby

and we've been in touch and you know with with Celestia kind of partnering up I guess for the last two years so it feels like it feels like a right time to spread our wing and uh go out there and kind of push what we've been focusing on for so long um but essentially just it feels like the time for modular has come like the time has come and everybody is starting to grasp what it means so can't think of a better timing right now yeah yeah I agree um also what I think was great uh Isa is uh in my uh little kind of meme prediction thesises post which are getting an absurd amount of of Engagement so either people are very excited about dym or uh the time is

just now in terms of the height maybe bit of both but um you know I made a point that being the second to in a modular uh bracket if you will of new launches is GNA be powerful yeah yeah I I'm I'm go ahead that was just kind of a yeah no that's it like I I just think there's something to be said about like it's a bit of a race man you think it's a race I think it's a race in terms of attention like uh in terms of of of you know people are very interested also like with air dropping to like Ts sers for example I think the second one holds a lot more staying power and like uh like um legitimacy

perhaps than like the 20th um but also perhaps I'm I'm wrong yeah I I you know I I can understand what you're saying I don't think uh for us it's a it's a race um but uh I I I can you know you always want to be kind of first you want to have this first move attention you want to have this uh um you know this excitement with you and and I'm glad that we're we're in the right time and you know we focus it's you know sometime sometimes timing is something that you need to plan out you need to understand like timing is not about luck it's about getting your team to focus on the right things and to get to that time on the right time so it's it's uh it's a matter of priorities and how do you think about

your project how you think about your company um but definitely I agree that the modular pieces are coming together and you want to be like a dominant one in the system I believe Dimension is is a very dominant piece of the stack and I believe um I'm like a fully think that the future of blockchain is modular and it's very much going to look like like web to and in essence where you would choose your VM you would choose your da you would choose Your settlement and it's kind of like choose your stack so if you get there first you can be and if you dominate it and if you get that Network effect you can be the go-to settlement in the stack and you know a lot of people don't really understand what it means settlement and you know

how it really works but um essentially I'd say that if you don't understand what settlement is you can think about if you're withdrawing from if you have you have if you have a withdrawal from a rollup where are you with like who's validating what's the state of the rollup and that's what dimension is um and you know I'm excited exed to to fit into that kind of Lego in the modular stack and a a big part of like that piece of the stack basically validating the state of the chain is is arriving at consensus right so how are you guys differentiating yourselves kind of from the from the existing consensus solutions that that frankly have been around a little bit longer but you guys are now coming out with some very unique

technology how is it how is it different and do you see the other consensus mechanisms like the other l1s the other settlement layers as competition or do you have a kind of a a more nuanced view on how you view like your positioning with respect to some of the other l1s yeah that that's that's a great question because it's very nuanced and and and if you explain it right people can understand it so I'll try to take that opportunity and explain it and I'll say this on ethereum ethereum is not really a settlement layer ethereum has settlement layers where every every settlement layer is actually the smart contract where you would take your money back from the rollup so you have various settlement layers on ethereum it's a lot

of different smart contracts on a THM that act as settlement layers so in dimension it's the actually the only blockchain that is a settlement layer by itself because we enshrined the IBC bridge to validate the other rollups and this is what's super unique about Dimension you don't have this anywhere right so if you understand that you understand kind of the the Elegance of what dimension is you understand that this is innovation and this is kind of the the next thing or you know I I've been thinking about this a lot and I I I think like in the end like also ethereum is going to have anrin ZK evm and then it it will become a settl layer at the moment I don't believe that there it there's no settlement layer like there's no blockchain that is built to settle

other blockchains like into the core binary and this is what dimension is technically yeah do that make sense for you guys it does ter basically the the cross rollup communication is uh is is is a problem cross rollup liquidity is a problem and then also securing rollups basically like currently are a lot of you know subnets rollups anything a lot of these are just like basically low security in a sense they're like better than just a low validator set of an L1 in my opinion but they're not much they're not much uh to compare to like in ethereum or to like a very high validator count L1 um and so kind of using IBC to to as your native bridge if

you will or as your native connectivity layer um you like my kind of subtext you get the best of rollups in IBC yeah I'm look at I'm looking at this from you know I'm a product first guy like I I I don't want to get too much into like the technical of which has more security or that I you know I feel that's relevant it's not it's not a good discussion what I feel is a good discussion is developer experience and user experience so for like if I'm looking at kind of other Solutions out there I'm thinking how good is the developer experience and could a basement developer develop its own chain with the right trust assumptions because

if you deploy a rooll up on ethereum and it has a multi and you're a basement developer basically what you have is a custodial wallet that people deposit money into you you understand that so you you actually deploy this smart contract bridge on ethereum and people deposit money into that and it's basically a custodial wallet so my Approach or like my target thesis or whatever you want to call this is how can we allow like your average developer just a team in Asia not not a team in wherever to build their own blockchain without the coordination of validators uh with no trust assumptions and with no custodial kind of regulatory risk that they could have so this is why we buil

that mentioned it's not kind of a competition about security or stuff like that because like honestly I don't I don't feel that you know there's there's a lot of problems with like tenderman security for example it's kind of a battle tested system that's uh been out there for quite a while and and you know I think it's proven it's proven itself very very good but I do feel like the the the experience of deploying a blockchain is super hard you know I know this because I'm doing it right now like our team is doing this and we're focused so hard on you know delivering and just deploying this blockchain it it requires so many coordination between so many entities and what dimension basically is is is it scales the adchain thesis to have like for example you Andy a person

whoever you know you're in Panama right now you want to deploy this blockchain to play poker with your friends you can do it this is what dimension is it's just you can you know you deploy These Chains as if they were tokens on ethereum and people could deposit money into them um and and it's great yeah the uh the era of scarce and expensive block space is coming to a dramatic halt um and I think it's part due to rest in part due to things like Dimension the modular thesis like I mean I think everybody's underestimated the amount of chains that are going to exist like it's probably going to be you if you check as many coins as there are now proba gonna be more I look I look at it the same way I look at it it's just like

there's probably like I don't know 500k coins tokens like on ethereum I don't know I just know not not sure about that metric but I guess like probably 95% of them are probably worthless and then you have like 3% that are you know semi worthless and you have that top two% that represent value so this is what I believe like we're going to have this explosion of chains and it's going to become this internet of servers where they communicate VI IBC and uh most of them are going to be just know fun servers crypto servers where you deposit money into them uh some of them are going to be cool and some of them are going to be lifechanging like very cool breakthrough apps youa I've got I've got a question

still on the on the on the kind of like on the product perspective the the tech if you will you mentioned like validating the state of multiple chains and I I really want to dig into this because I I think the concept of like uh block space abundance essentially like scarce andex ensive block space is no more we're now in this era of abundance for Block space brings costs way down transaction fees way down but what that seems to lose is interoperability or unification across the those those chains now you guys are building a solution to validate the state of chains and and like you said kind of bring them

all into the same network like at the binary level does that mean you know you're taking like a uh an ethereum validator and like a cosmos validator and both of those are now part of the dimension validator Network like like uh gossiping the state of their respective chains to to one another or like a common Dimension node how like how do the nodes in the dimension Network are are they made up of these nodes from these other networks or yeah like how is how is the the network architecture built so Dimension is uh an L1 attender Min based um Cosmos SDK chain where

let's do a quick kind of uh one1 on on the architecture of Cosmos so you have the tendermint which is the consensus and networking engine it basically makes sure that you know everybody's synced and agreen on the on the state and and above it you have uh the the application the custom SDK so this is this is kind of Cosmos was modular it's it's the it's the father of modular because it it divided between consensus and and and the application um so the dimension architecture is we've built a rollup servicing logic into the C SDK into the L1 that fits our rooll of SDK so we built both the L1 and the L2 for it to fit like a Lego to you know to come

inside together uh if you think about it you know you you you want to build something that fits well together like L1 and L2 you want to build it natively so we built the application for the l2s on the L1 but not on the smart contract layer um and for the l2s we built uh the the consensus list engine which means the the drop in replacement for tender I don't want to get because because I don't think it's it's it's uh it's uh it's you know beneficial for for everybody but uh in terms of in terms of the work that's being uh that we we built it's a lot of work but it it's just to have this native uh ux feeling where all the bridges are the same so

you don't have like a starkware bridge or a ZK sync bridge where they can't really communicate between each other so you can think about it like if you have a phone company in the states or whatever in a country and you have five or four phone companies telephone companies and they can't actually interoperate between each other you're screwed you need to have one standard and our standard is IBC so all the rooll apps they work on the same standard it's very easy to to interoperate between all of them and it creates this standard effect where all the communication is is uniform and all the trust assumptions so you you don't get any kind of oh I need to go to L2 beat to understand if I if I'm depositing into a right rollup oh

this rollup is like this or this rollup is like this no you don't get that it's all the same thing in terms of like the trust assumptions behind it yeah yeah yeah so all the roll apps are basically secured by the dimension Hub validators that are running on the cosmos SDK and tener all the users can know that that their funds are effectively secured by that technology and then don't the and and Andy let me let me let me just chime in just for a second the raps they're they're da agnostic so we don't want like to have 10,000 raps kind of putting all the data on Dimension Hub because we're gonna get clogged and we're gonna face the same da bottleneck that ether is facing so we thought about okay let's let's do

modular the way modular is you choose your da as long as it's IC connected with Dimension Hub Dimension basically secures your funds so what it is what it does is you hold the funds on Dimension Hub you can go play offchain right imagine you're playing offchain you're doing all these transactions on a rollup it all just you know it all just po the data is posted in the interchain let's say for Celestia mostly um but there are other options in terms of being VA tic um and dimension just guarantees that the funds are safe uh and if there is required data it uses IBC to connect with Celestia or the Celestia light CLI that Dimension Hub has yeah does that sense and so y it does and it makes sense from a a cost

perspective for ux um it's questionable from a value ACR perspective for dimension in terms of like uh the road map that that the L1 is trying to take but assumably so the the uh the the the idea is that all the ethereum rollups are going to start to use agnostic da or at least most of the ones that are going to compete at a high level other than perhaps like the OG like arbitrum optimism they may never switch because they see the value of a of um ethereum as sment layer and the security and then might you know just use uh um EIP 444 but there the the reality is agnostic da brings you a way better experience it brings you a bigger community more

developers um and and a better kind of opportunity um for for growth and I think that this roll apps concept is something that people are really curious about as well from a value acral perspective for the users so I want to kind of take this one out of the weeds and into what's in it for me kind of conversation um what are the roll apps um that are kind of that you are seeing being built obviously there's a whole dashboard where can our community find out about these roll apps and what are some of the Roll apps that you know are are being built um how could we potentially see value ACW from those into dym holders shakers Community Etc that that's a great question I love

that question and first of all just that there's a lot of people who think that the token you know you can call it whatever you want but I see like people thinking it's de and but we call it dime like the team calls it dime so we say like dime is money like time is time is money so dime is money um and just to to get a better understanding of what dimension is it's basically um kind of if you think about like internet of blockchain so Dimension is kind of an internet service provider to these rollups right so how does Dimension make money you'll find out um when we release the the economics or the monetary policy of Dimension but essentially Dimension has a very unique business model um as I stated before Dimension is actually the

only settlement layer like you can see other settlement layers where there's smart contract settling value for rollups but by itself as a chain the business model of settling doesn't happen on other other venues I would say so you need to kind of um watch out for the economics that are very very close to to being released so it's very interesting to see um the value of cruel mechanisms of dime super interesting and there's a lot um and you talked about the roll apps so what we want to achieve is not kind of this V see play where okay this team is invested and so you come no we want to open up rooll apps for everybody and you can see that on

Dimension portal it's a it's it's it's just fun you can pull your own and there's so many you just go ahead and you choose your one uh to deposit and play with there's a lot of teams building very cool stuff um but the focus is to create like the focus that I lead is to create the best product so permissionless uh fund would become kind of the the growth Catalyst if that makes sense for you um you know the best the way that if you build a good product that's the best business development and I and I've seen this like with our test net you just build good product you put in very good crypto economics and you see the network effects just grow and grow and you know if you think about Dimension it's basically a bet on human

Ingenuity you we say like okay there's endless like State machines out there you can you can deploy your own very easily now everybody could actually kind of capitalize on these opportunities um and we we're sure that you know with the right product and the right incentives we're GNA have like this blast of of of of you know of innovative State machines and people just you know capitalizing on the growth yep that's a there's a there's a meme going around that Dimension is a bet on Humanity a a a uh oh man gu something like about uh furthering the growth and things it's funny that brought that up so following up from that um is is one of the best ways for

uh users to to you know the average show to to get in evolved with roll apps you know would just be uh participate in the dimension ecosystem stake some dime if they got the airdrop or not Financial advice but um at the end of the day the value should accur to those who are kind of uh providing the the consensus for the uh settlement layer and contributing in the community uh is that correct yeah that's that's you know not Financial advice and dimension like it it the the Forefront of Dimension utility is actually it's used for Bond so if you want deploy roll up you Bond dime so it's actually an enabler it's a utility token um but it also has value Cru mechanism so I don't want to get like too into like

describing them and you'll read about them in the future but definitely uh join the ecosystem if you're a penguin if you're a madlad you're a bad kid you're a torian if you're just if you're just like crypto just want to build cool stuff you want to transform your server into a crypto blockchain and do that with minimum effort and maximum security minimum trust assumptions uh this is why we build Dimensions to just unlock this um like we looked at kmos like the intern of the blockchains and that amazing idea of growth and we think like how can we exponentially take it to the next level so this is dimension just putting another dimension to the CMOS to the inter chain um so yeah that that's why we actually call the dimension

because like we put the Y AIS like vertical into the interchain love it dym stakers ring for a treat um and and overall I think that that bringing the communities together is is a great one Rob yeah all good and I I realized that we got to go uh pretty soon and wrapping up on time here I I guess like last question is there is there kind of like um something that you know as you guys were building was there like some like trigger point or something that changed along the way because you guys have been building for a while you decided to launch now was there anything like like any epiphanies that you guys had along the way that it was like oh we're gonna we're gonna adapt our technology like

this or our business model like this or you know we'll we'll airdrop to these stakers was there anything that was kind of like that kind of like just clicked and uh along the way was like a light bulb moment that that adapted the strategy that you guys had yeah that's that's an amazing question that's an amazing question so frankly like from the start we didn't change the vision like visionwise we wanted like our vision was the mammoth vision of building the internet of rups like this is what we all this is why we assemble like this is why I I I built the theme and I I I I you know I met my co-founder and this is like this is what motivates us but I

think like product perspective the Eureka moment of Dimension is once we figure out that what ethereum did to tokens Dimension needs to do the rollups or what ethereum did to NFD collections Dimension needs to do to rollups like take that kind of some that that standard token representation that everybody enjoys and transform that into a standard State machine where could where people could actually generate value and not just represent it so I hope that makes sense to you because you know there's so many tokens out there they're supposed to represent value right represents some kind of generating value or if if it's a meme it's a meme it's also it represents something for you

right like a picture of penguin um but we just brought it to the next level and we say okay we we create these standard State machines that could actually also generate value um like as a utility um so that's kind of I would say the how I look at the product how can we replicate the success of tokens and nftd collections into these very powerful easy to deploy stage machines based amazing B and um I I think that the same that's what the meme was it was about the state machine as to how it was going to change Humanity um this the last couple fabc of society the fabric of society ending yeah that's what it was yo one more with you for the community

first um just to confirm um when uh if Community are the recipients of the retroactive airdrop they can just use an ethereum address to claim their tokens correct that's true that's true okay good because I had some questions about that and I just want to make sure that everyone is quick CL clarification on that quick clarification so dimenstion is a tender blockchain but it's also evm compatible so it means um we we we want to use the hex address format as the standard like people understand like people have their hex address or evm address that they use the keys that they're familiar with so we we don't want to go against Network effects so like we prioritize to have the hex address um as the address format of

Dimension so it means that if you have a penguin on ethereum and it's on uh zerx address you take that same key and it's compatible on Dimension and that's where you get the the dime tokens yeah that makes total sense I think that's one of the biggest things that it's like it's a very smart choice right so I don't know they you need to hear that from us but um is what it is and then the other thing is um Community was a bit confused with regard ards to predictions of valuation things um at launch could you just please explain uh the the float the circulating Supply um and kind of how that's how that's going to play out Andy too much Alpha for today my friend too much Alpha you're gonna you're gonna see it come on but there's one billion one

billion tokens one billion tokens everybody can stake um yeah there's uh that's it like that's that's you're going to you're going to see it in the future all right right thank you so much Isa for coming on bit of pleasure all right guys appreciate the time thanks isi cheers bye