Zapper 1mil MAU's, Premia headed to Arbitrum & more - The Daily Gwei Refuel #261 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the deadly grey refuel where recap the latest news in the ethereum ecosystem i'm your host anthony sosano and today is the 26th of november 2021 all right everyone let's get into it so thank you everyone for your well wishes yesterday for the one year anniversary of the daily gray refuel really appreciated reading all your comments on youtube twitter your dms discord everywhere just uh really really uh nice reading all of that and it was really heartfelt so thank you all i'm glad to see that you also all enjoyed the nft i mean i've got it up on screen here uh i think i mean it came out so well right like this is just so dope i mean the figurines you know fun in fact the way we did the figurines in the in the um the photo here or sorry in the nft here

is that i actually scanned them with this app on my phone called polycam and i i got all i captured most of the detail of them so they look absolutely awesome um but then the rest of it is like completely custom made by kitty i just took a few pictures of my room and he put it together and and basically uh you know bring life to this nft and this is actually what my room looks like but you know if you look at it from from my perspective i have all these monitors in front of me i have like the charts of the kind of like prices going on and i have um all these stuff like uh i mean i don't have the ether rug you can see on the bottom here it's like a and the ether blogger as a rug i don't have that but

everything else is pretty much what i have and we put the rug in there because um because we wanted to to uh i guess like i put put a few easter eggs in here i think i mean if i go through the video i can slowly show you kind of like some more of the nft here and there i've got screenshots of the little easter eggs that i'll also be sharing um but you can see here i mean a lot of these other stuff that's been kind of like uh created like this stuff the the daily grey pump and and all these cabling i obviously don't have that that's been added for effect with like solar panels and things like that but i think it came out really cool because i would love it for my room to look like that would be absolutely awesome you can see as i you

know it's going through here just piping and things like that and then at the bottom here where it says 32 that's like 32 ethan and that's another easter egg right um so yeah i i just think it came out absolutely awesome and it's just i can't wait to kind of like have this as an nf team immortalized of this room so yeah very much looking forward to getting this going i had a few questions around what's going to be the process of minting this so as i said minting's going to go live on december 6th we haven't decided on a price point yet and as i've stated here most of the proceeds are going to ethereum called dev so it's kind of like a for me it's kind of like i want to be able to give as much money to the core devs as possible but i also

i kind of like um want to keep it you know at an accessible price for people uh i will be doing it at layer one we will be doing the minting at layer one via the mirror platform um you know we could do it at layer two but i feel like there's two major reasons why i don't really feel like doing it at layer two one is that there's not that many additions there's only 365 editions and i don't want someone just like mass minting them at layer two um because there's no gas to do the minting there and basically scooping up all the supply funny enough the gas fee actually acts as acts as a deterrent for that not that i believe there's going to be any kind of like huge secondary market premium or anything on these sorts of things but uh someone could just do this to kind of

like troll troll me right like i mean i have i have a fair few haters out there unfortunately um a lot of the cardinal community doesn't like me especially but yeah that's that's kind of like one reason and the second reason um uh for doing it at layer one uh uh is that um i think it just like i don't know it kind of like integrates better with like everything that we we know and use on layer one right like openc and kind of all the nft tracking tools and everything like that um so from that perspective yeah the the price will be kind of like what we determined before december 6. minting will go live time will kind of be announced a few days prior and it'll be the gas fee plus the plus the price there um and then hopefully you know all of you can get

your hands on one um well obviously not all only 365 people can get there they get their kind of like hands on one um but in saying that i will be sharing the kind of like link to it a bit earlier in the daily grade discord channel because i want the more dedicated kind of members of the community to have a chance at minting one before everyone else does that's not to say i'm trying to exclude anyone but you know the most dedicated members of the delegate community i i consider to be the ones who are you know day in day out in the discord channel helping people in there sparking really great conversations and and things like that so i definitely want to give you guys an opportunity to to mint before anyone else so if you are active in the discord channel you will see it uh before anyone

else sees it and then i'll publicly announce it and everyone can go mince it there i'm hoping we can you know have them all minted out because i really want to to give us you know as much funds as possible to the core devs and i'm really excited about that so just a bit more details on how that nft drop is gonna work but as i said there'll be much you know more details such as the price and the actual uh mint time and everything like that uh uh soon for you guys to to kind of like um be aware of so so yeah definitely looking forward to that all right so i think uh i don't know if this is like a big piece of news this is a very important piece of of news i don't even know if i'd call it news but

it's basically a very important update from vitalik yeah he put out a blog post today um basically titled a step-by-step roadmap for scaling rollups with call data expansion and sharing now the other day i went over how um there's an eip to reduce core data costs for roll-ups to increase roll-up scalability by basically a 5x instantly i'm bringing down those fees by about a 5x which would be huge obviously now in this post vitalik is basically talking about not only what with what we can do with cool data expansion but also what the kind of like sharing rollout is going to look like now the crux of it i mean there's detail in here which i should definitely i definitely recommend going giving this a read um he goes into detail about you know how much kind of

like overhead sharing is going to add to the chain uh you know how much kind of like uh how big the chain chain's gonna get and and kind of um talks about shining in the context of uh uh uh fraud proofs and things like that as well so definitely give this a read but the the high level theme here is that i think what vitalik is saying is that he would and this is something that i've thought about a lot it's like he would like to see sharding rolled out very progressively so essentially you would start with an initial shards of instead of 64 you would start with something like four shards right and then as those fill up you keep adding more because there's no point adding 64 shards if there's no capacity to use them this is going back to my argument the other day

about how there's kind of like the myth around an infrastructure phase where you put all this infrastructure out there you pay to put all this infrastructure out there and you have it all there and um no one's using it so what's the point at the end of the day so progressively adding more shards over time as they are needed to the network um through kind of like network upgrades and stuff like that seems like the more pragmatic approach from both kind of like the you know the chain size security stability of the chain all those sorts of things because the chain right now can can easily handle 64 shards based on how many validators are are online right now um so that's not an issue but it's more about the fact of why do 64 when we don't need it right now right like it depends you know and

once those kind of like four fill up or once kind of like even two of them fill up right and the fees start getting it's like getting high on the on the shards because everyone's competing for for shard space um then we can kind of like uh start adding more right progressively as time goes on and it could even be done in a way where it doesn't even require a network upgrade it's kind of like a soft signaling thing or a kind of like a client setting or something like that which which every you know once the majority of clients have agreed to add another shard quote-unquote um it could be done i'm not sure if that's the path they're going to take i'm not even sure if that's possible it sounds like it should be possible because you could have like dormant shards uh for example where you have for

example say you have like 64 shards and 60 of them are dormant and you have four active shards and then um instead of having to do a network upgrade to wake up the other ones you can progressively wake them up by having all the clients or the validators the majority two-thirds of them signal and say hey you know we need more kind of capacity and then it could work the other way as well like if for some reason we don't need as much capacity we can basically put those shards back into kind of like an archive mode or a dormant mode um but it you know that would probably be more of a long term thing and dependent on if people needed access to those shards or not so yeah there's a lot of that stuff going on there and vitalik puts it well in his

blog post and explains it quite well um so definitely go give this a read but this is super important stuff i think you know what i've noticed since suzu's tweet over the weekend and it's only been like six days and i mentioned it yesterday but i have definitely noticed not only a sentiment shift towards ethereum zk roll ups more people hearing about roll ups but also i've noticed the kind of like ethereum core devs be more public especially vitalik more public about what i've been talking about on the kind of like refill for quite a while and that's basically you know how powerful roll-ups are and how we can make them even better through layer one scalability because it's all well and good for me to talk about it but my social social kind of capital my social signaling is worth much less than vitalik's you know if

vitalik says something and he put something out there his reach is way greater than mine i mean what's his follow account on twitter out right now i think it's like 2.8 million followers right that's i've got 150 000 so it's much more followers than me but i mean when the founder of ethereum says something it's going to be it's going to be worth a lot more than uh anyone else like even if it's not just me but like literally anyone else in the ethereum ecosystem vitalik's voice holds a lot of weight he has a lot of respect he know you know these are these are the problems that he's working on day in day out so when he posts something about it people listen and that's what you know and at the same time this is like kind of like a i mean it's a

double-edged sword because we don't want vitalik to be kind of like the centralizing force in ethereum of course we don't want anyone to be a centralizing force in ethereum where we all kind of wait for our lord to come tell us that you know pass down the scripture to us and then we do his will i don't think it's like that at all i think what ends up happening is that the community runs with things we all kind of like uh organize in the decentralized kind of like bizarre fashion that ethereum works in and then uh from time to time vitalik comes along and says well hey guys like you know we've all been working on this really cool stuff i'm gonna use my platform to highlight this stuff and and basically give credibility to certain ideas so that more and more people can kind of

like learn about them and you know as i said like his reach is much greater than everyone any you know the funny thing is anything he posts really on twitter these days is probably covered by every you know crypto media uh organization or other crypto youtubers that talk about these sorts of things and um you know polly now has been getting a lot of love lately as well uh on on youtube uh there's a bunch of big youtubers that quoted their tweets uh quoted polynomial's tweets and i love to see that as well so the message is definitely getting out there with regards to roll-ups and how ethereum is going to scale and i really think that um the after the tweets on the record after drama of the weekend we did hit a very big turning point uh which i really really love and

i love that it's just it's so poetic right it's always hilarious when this happens you know um uh you know a few weeks ago maybe a couple months ago i think at this point uh everyone was dunking on ethereum because uh solana was getting a lot of attention right because the price was going up then the salon network fell over right it fell over it kind of went offline for 17 hours uh basically shortly after that and then over the past kind of like i guess well last weekend and a few days before that everyone was dunking on ethereum from the avalanche community and they were saying you know avalanche is going to take over all this blah blah and then not only did uh the avalanche price kind of like top out and kind of like dump off of there but on top of

that uh some of the smartest people in the ethereum ecosystem looked at avalanche and immediately found glaring issues with it such as the mav stuff that was going on um obviously the fees went high as well as people kind of like were like why why are the fees higher in evelyn avalanche this is supposed to be a a um a a cheap fee chain um so all that kind of like stuff happened and it's kind of like don't come at ethereum if you're not prepared for the consequences because you know the ethereum researchers and developers they're very humble they they they're generally pretty quiet and they're generally focused on ethereum stuff they don't really care to look at the other chains and kind of like point out problems in them until this happens where it's just like it becomes a thing where they can't ignore it

anymore and that's exactly what happened so it's just poetic how that all played out but anyway gotta give this blog post to reach from vitalik is very very important especially for understanding the sharing roadmap and how sharing is going to work so lion from the chainsafe team today put out a tweet saying that lodestar one of the eth2 clients proposed its first mainnet block this means that we now have five mainnet eth2 clients which is absolutely awesome right so lodestar joins an amazing rank of other client uh amazing the amazing ranks of other clients such as uh prism lighthouse teku and nimbus uh lodestar is a fifth i think there's a sixth out there that may or may not make it to main net there there are originally i think like eight of them um but only

formatted to mainnet for the beacon chain launch but now we have five on mainnet which is absolutely awesome to see uh i haven't checked how the um what's the uh the no distribution is looking like lately in terms of like our prism still a majority kind of like no distribution but having five clients is is really good for for that as well just gives another client people to play around with people to kind of run instead of the other other ones um so just to get more kind of like client diversity going there so really awesome to see this from uh from lowstar and i love the graffiti here it's lodestar which is which is pretty funny um so yeah this was their first mainnet block uh proposed by a lodestar client so uh this account whale alerts are for

those of you who don't follow it i don't follow it but i see their tweets pop up a lot they tend to kind of like tweet out whenever a big amount of crypto is moved from a centralized exchange out or into a centralized exchange so today this one picked up ten thousand each being transferred from binance to arbitram so you know withdrawals to arbitrary from finance must be going live soon right this is super awesome because this is exactly what i was talking about a few weeks ago where it's super easy for centralized exchanges to have an onboarding process into layer twos because all they need to do is send a bunch of eth reserve to the layer two which is exactly what what binance seems to be doing here and then that's their accounting so they do what the accounting internally and they are able

to issue and credit people um either way you know going in and out of arbitrary by doing it at layer 2 with this kind of like hot wallet funds that they essentially have so i think that's exactly what they're doing here they're getting ready to enable withdrawals you know out to arbitram from from the binance centralized exchange which is going to be absolutely massive right like the amount of kind of like gas fees that we all have to pay to onboard to just you know just not on board to arbitrarily is pretty high it can go into the hundreds of dollars if you want to onboard multiple assets and want to do multiple onboarding it's uh onboarding kind of like uh transactions and you know from from finance it's probably going to be near free because the only transaction for you would pay would be

the fee to transfer to arbitram directly and uh that might be only a few dollars or something like that i'm not even i'm not sure we'll have to see what binance does there but it's definitely not going to be the cost of a layer one uh ethereum kind of like fee transactions so absolutely awesome to see i'm super excited to see the withdrawals go live obviously deposits are live but it's a bit different going from arbitrary to binance is definitely nowhere near as exciting as going from binance to arbitrary so very awesome to see this and ten thousand eight is not a small chunk of change guys it's 41 million dollars right like it's a it's a lot of money there and i'm curious to see if they put in any any more either i mean this whale kind of alert account is pretty it's pretty spammy so i don't

know if i can see um if there's any more being transferred into arbitram um but yeah still awesome to see that transfer go through there so speaking of arbitrary premier one of the decentralized options protocols on ethereum it will be going live on arbitrary next tuesday so just another app going to arbitram i've been seeing a lot of people that i follow and respect in this industry be pretty bullish on the premier finance project i haven't done a deep dive myself and this is not me endorsing it or anything but definitely whenever i see my friends and people i respect the industry being kind of like excited about a project i pay attention to it so i've been meaning to dave type into premiere and how they've been doing the options protocol sorry how they're doing their options exchange there's so many options protocols now on

ethereum it's kind of hard to to know which ones are are better than others but as i said the social signaling here from people that i follow seem to be pretty bullish on this project and then being on arbitrary is obviously very bullish for for themselves and also for people wanting to interact with uh this options protocol so definitely go check this out as i said it will be live on arbitrary next tuesday so a couple of updates from the polygon ecosystem here from mahalo so they're doing a lot of nft stuff lately the polygon ecosystem the polygon pos chain and mihaelo said that macy's did their first ever nfg drop on polygon today they did a giveaway of 9 500 nfts and successfully finished an auction um or which already saw over

three hundred thousand dollars worth of bids all powered by the polygon pos chain of course um which as milo says is the leading affordable uh eco-friendly nft platform which it is because it's a pos chain right it doesn't use people work so it is definitely eco-friendly and it is affordable because it is on the pos chain it is not on ethereum layer one this is awesome to see and the second thing was uh polygon is going to be getting 175 000 new users because the swiss post uh is is going to be doing uh launching a big nft collection on on polygon so the whole collection 175 000 items were sold within a few hours and the items are now tradable on openc you know what i find really cool and really and and really i'm interesting is that open c is only

live on two uh platforms right now it's ethereum layer one and the polygon pos chain and i think this has been a really big deal and a really big driver of the polygon pos chains um kind of like traffic for nfts because we all know there's other platforms right now for nfts like immutable x for example but they don't have uh openc or an openc like marketplace yet they do i mean they do have a marketplace you can trade now but it's nothing like openc and there's no kind of brand power behind that uh so it's been very interesting to see how well uh their open c integration has worked out for polygon um and i'm curious to see when openc will go on other kind of like chains and l2s and things like that they may go to other chains like uh avalanche or or any of like i don't

know about bsc but like they may go to other evm chains but i'm curious to see where they where they deploy to next uh but yeah it's still awesome to see that all uh be active on polygon and i mean the funny thing is is that uh there's a lot of nfts on polygon and because the the fees are so cheap and this goes back to what i was saying uh saying earlier about how the fees can actually act as a kind of like a positive thing on ethereum layer one for nfts one the first reason being that it acts as a kind of like spam prevention so that people can't all kind of like um bot prevention against like botting in an ft drop um getting too many of them because of the gas fees but it also works to kind of like have higher quality nfts at

layer one because uh no one's gonna like what happens on the polygon pos chain is that there's a lot of spam nfts that get airdropped to people i get a few of them in my wallet um doing that on leon ethereum is not worth it right it's just it's cost prohibitive so the gas phase kind of act as like a deterrent there as well but that just comes with the territory you either have like high gas fees which are both a deterrent to spam but also a deterrent to uh or kind of like a way to to um uh to exclude users because you know there's a lot of users who don't want to spend 50 bucks on a fee um and then on the other side like uh you have the benefits of the of the cheap fees on on polygon pos and more

people can do more stuff with nft so really cool to see that and really cool to see polygon um make headways with their nft kind of like integrations here so i missed this tweet from the uh the other day from ludicon but he linked it to me today so i i kind of like retweeted i want to talk about it on the refuel um this this tweet thread basically goes through optimism and the projects launching soon on optimism or have been kind of like whitelisted so first project is the universe xyz ecosystem which is basically an nft ecosystem um do you have kratos dao which seems to be an an om fork we're all used to these kind of like on fox i've seen some people talk about it in the in discord channel i haven't looked into it i am not endorsing this at all

by the way guys please do not buy this or do anything with this because i talked about it just do your own research of course and see what that's all about but as it's an on fork these things usually are very speculative so definitely do your research before kind of like apping in there uh pickup protocol which is apparently a perpetual exchange um with leverage i haven't heard of this before uh this is the first time i'd heard of it from this thread so really cool to see that there's projects that even i'm not even hearing of launching straight on on layer two so it's live right now but in beta mode um there's we piggy.com which apparently is a multi-chain lending platform uh that also just launched they're on arbitrary as well really cool to see that uh there's greenwood labs here which is a loan aggregator that

dynamically shifts your loan to the protocol with the lowest interest rate that's pretty interesting they're live on ethereum going live on arbitrage and optimism soon uh a few more few more here like polynomial you have perpetual protocol uh you know launching on on l2 soon uh they've been on x dive which has been kind of like quite nice for them um then you can obviously jump between albuquerque and optimism using hot protocol which is which is where little cohen um uh kind of works at uh fails which is part of the synthetics ecosystem uh going you know we'll be launching on optimism soon uh you have mean finance which i've talked about before on the refuel where it's a tool that allows you to dca into any asset with any erc20 or eth this is cool you know why this is cool because dca-ing

right if you want a dca in 50 bucks a day you don't doing that on ethereum l1 right now doesn't work because you'll be paying 50 fees to dca in on chain right you you know unfortunately you're better off doing it on a centralized exchange but by doing it on optimism you're not getting paying 50 in fees you may pay four or five dollars but still it's you know much much less and that's only gonna get um you know i'm gonna get cheaper over time and then finally there's alien protocol which is also part of the synthetic synthetic ecosystem and this describes itself as a deal coordination protocol uh which will be going live on optimism soon as well so yeah a lot of cool projects here that you can check out i'll link this in the youtube description for you to kind of dive deeper into but i don't expect any

one person to be able to keep track of all the projects launching on layer two's going for just like we can't all keep track of what's launching on layer one i do my best to but you know every other day there are new projects that i've never heard of before that somehow got to like hundreds of million dollars of market cap all this tvl and i just said i'm like okay where did this come from it's just there's so much happening it's basically become you know keeping up with ethereum layer one and eve and layer two as well has basically become uh like trying to keep up with the internet you can't there's just too much happening and it's only going to get more crazy from here so definitely go check out all the projects linked in this thread all right so zappa announced yesterday

that they have reached 1 million monthly active users and they surpassed 10 billion dollars in total transaction volume and now have over 100 000 followers on the bird app the bird app obviously being a twitter so one million monthly active users this is this is awesome because as i've said to you guys before i'm always on the lookout for ways to measure the kind of like uh active users of the crypto ecosystem in a civil resistant way or in a way where it doesn't actually make sense to game it so metamask announced that they had like 15 million monthly active users or more than 15 15 million i think it was up to 20 million or something like that recently but you know there could be people that are using the metamask mobile wallet and also using the metamask kind of like desktop wallet and

those things count as unique active users so if you were to discount the 20 million number by half um because of those those instances or because of people having like one on their laptop one on their kind of desktop there are lots of these kind of like things happening here or for people who just like got into crypto one month and then just got out of it and won't come back you know you could you could maybe say there's 10 million elite which is still obviously a huge number right that's absolutely massive number and but metamask covers not just ethereum but the all the avm compatible chains whether they be layer 2s or side chains but then you look at zapper which is not a wallet right it is an interface to keep track of your wallets and keep track of your funds you can obviously

zap in and zap out of things through there and they've got a bunch of integrations happening but um this is just another really great way where i kind of look at this and i'm like okay well how many people have like a zapper on multiple devices that they check and they've got synced uh uh kind of like all the time and you know there might be some there might be some that have like zapper on their desktop zapper on their laptop zapper on their mobile phone which is fine so you could discount this by a little bit but i don't think it would make a huge difference to this number in terms of like monthly active users so one million monthly active users for a portfolio tracking interface for a way to kind of like obviously interact with it to zap in and zap out

and all those sorts of things is absolutely amazing and it just goes to show that uh we have we we're definitely still having a lot of users come into the crypto ecosystem a lot of new users as well i mean a million monthly active users is nothing to nothing to scoff at but it's also kind of like just at the very beginning of where we can get with this sort of stuff like i mean full disclosure i'm i'm an investor in zappa i mean a lot of you guys know that already but i invested in zappo because i saw the kind of like vision i saw the mission i saw them kind of like what they could be like in five years and i and i definitely feel like um that they can be an absolutely massive way for people to uh sorry an absolutely massive

platform where they help people do all sorts of things you know from tracking their portfolio to zapping in and out of opportunities and all that sort of stuff so when you really look at this one million a month the active users stat i think that can easily get into the tens of millions within the next couple years um and then you know it could maybe one day go to the hundreds of millions eventually if it's super successful here so um i guess i congrats to zappa on this growth absolutely amazing to see and you know the total total transaction volume being um over 10 billion is really really cool that seems to be accelerating as well and obviously over 100 000 followers on twitter is a big deal too so super cool to see this congrats to zappa on on these metrics here so the last thing to talk about is this

tweet from ennis.eth who uh kind of like has uh showed like a video here of their e s name annies.eth istanbul's boss for us which i guess is the name of the bridge uh so you can see here the ethereum name service is kind of like scrolling across and then you know if i play the video it's actually got like a countdown and then you have you know three two one then you have any dot a's displayed there which is pretty cool and then you have ethereum name service kind of like scrolling across the the bridge here which is which is pretty cool to see as well um the reason why i think this stuff is cool and not just this stuff but like you've all seen the nfts that go that kind of like have been displayed in times square and there's like billboards

and all that sort of stuff it's just that it just makes it feel more like makes crypto feel more real and kind of like feel more kind of um you know grounded than what it is because usually when in crypto like everything's in what we call i guess like the crypto metaverse if you want to refer to it as that it's all digital it's online it's all part of the platforms that we're used to used to using the twitter's the discords um you know there's even the you know the zap by seeing it there the the other interfaces that we all interact with but then when we put this stuff on like the real world things it just becomes more tangible more real and it obviously reaches more people i mean think about the amount of people who saw these things on in times square

think about the amount of people who would have seen this on the bridge and think thinking ah ethereum name service what's that right they might just google it right and they might even kind of like google any dot eat and go to etherscan and see that and things like that so this would be like a net positive for ethereum awareness which i think is really really cool when you think about it um and i mean this is why i think these sorts of things just like really help us get get the word out there about ethereum about crypto really help us keep keep us grounded as well and kind of like tether us to reality because if there's one thing that crypto does it's kind of like it exists in its own little bubble in its own little reality bubble and we tend to forget that there's this whole

kind of like a real world outside of it that we still need to kind of like on board we still need to kind of blend these worlds together um and we still need to integrate these worlds with with us so maybe that's taking this example too far but like this just got me thinking about different ways that we can kind of like blend these worlds together and have like the physical and digital meats but not just the physical and digital meeting but like the physical digital and the crypto digital meeting because we obviously have already have like a massive digital ecosystem in the world but the thing that we added with crypto was the value layer which adds a you know a value layer but also a coordination layer which adds like a whole new kind of like dynamic to to everything that we have

going on so so yeah that's what that's what i thought of when i saw this uh funny enough but uh yeah i think that's gonna be it for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all next week thanks everyone