{"id":"vBqwHATX0gA","title":"[REDACTED] 2024 | Showcase Chain Abstraction Cohort","description":"Get an insider's perspective on what these teams are building on the cutting edge of chain abstraction, and learn how NEAR is helping them grow.\n\nRoyal Fool - Templar\nAlan Hampton - Covenant\nFranco Scucchiero - Omnilane\nJarrod Barnes - NEAR Foundation (moderator)\n\nNEAR is the Blockchain for AI\nWebsite: https://near.org/\nNEAR AI: https://near.ai/\nIntents: https://near.org/intents\nChain Abstraction: https://www.proximity.dev/\nSharding: https://nearone.org/\n\nFor the devs\nGitHub: https://github.com/near \nDev Docs: https://docs.near.org/\nDevhub: https://devhub.near.page/ @NEARDevHub\n\nConnect with socials\nTwitter:   / nearprotocol  \nBlog: https://near.org/blog/\nMedium:   / nearprotocol  \n#NEAR #nearprotocol #NEARAI","channel_name":"NEAR Protocol","published_at":"2024-11-12T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/vBqwHATX0gA/hqdefault.jpg","transcript_text":"but very excited for this conversation today uh my name is Jared Barnes I'm head of founder success at the near foundation and have the opportunity to work with all of our Founders and Builders um who are deploying amazing products on near you heard earlier today from harit the infinex team and just now from Zaki about all the Innovation happening in the defi space on near um and now I'm excited to actually have a conversation with the folks who are building those Solutions um and actually doing the work of innovation so we have three amazing Founders uh here today I'm going to allow uh them to introduce themselves um and really dig in and of course it wouldn't be a panel if we didn't spend time on predictions for the future so if we have time we'll get into that as well uh but we can start here with Franco please feel free to introduce yourself all right thank you for having me um so my name is Franco I'm the co-founder of OPN Lan I got my co-founder there as well fero um I have a background on electronics uh was also a Dropout and then started my uh entrepreneu path um I buil raps which is a software development company about 130 people now uh gotten uh quite successful and also built other projects uh more on the AI side uh we built um an AI system for interviewing people uh we built also transcri which is one of the fastest WhatsApp applications on latam it's gotten uh 3.5 million users um and other stuff as well uh during all this time um now we're building oping uh which is uh essentially kind of unifying um liquidity across chain it's a liquidity layer that B on top of chain signatures uh that hopefully will allow users to experience a seamless ux across any different chain and any different protocol amazing uh Alan Hampton co-founder of Covenant um from a background perspective a mixed bag uh PhD artificial intelligence then management consulting still recovering and have been doing a bit of AI uh and before Co and started with a couple of friends a fully licensed US Bank my name is Royal fo uh I'm an engineer by background uh I'm building Templar which is a chain abstracted modular borrowing protocol that allows you to deposit assets on any chain uh as collateral and borrow against them amazing um so I really want to dig in on each of your use cases but I also want to dig in a little a little bit to what led you to arriving to the Solutions in what you're building today and maybe Royal we can start with you first if you're comfortable can you give us the backstory on Royal fool as a name also so uh it's related to uh Templar the Templar Bank was um the First International Bank and pioneered a number of financial Innovations The Travelers check international finance uh the actual um estate uh and a lot of other things um so that was the inspiration we took took for the company and going with the Medieval theme uh the Royal fool is the King's Chester he's always free to speak his mind um which I enjoy doing um so that's that's kind of the background uh on the actual name there um and then the yeah the inspiration for uh what we're building uh comes from a problem that I myself faced as well as many other people that holds crypto uh and that is namely you know with the assets that you hold you know if you want to do something IRL with those assets um unfortunately there's a bit of a a crypto acceptance problem right um so if you want to uh it's it's not just purely like an adoption problem it's it's a regulatory problem if you own uh Bitcoin eth near Etc uh you can't just go and buy a house with that right there's a bunch of regulatory headaches for that um tax implications you know kyc all all the all this stuff that you know they they really really try and block you uh so a good solution to that uh is that you borrow against your assets now this pre presents a several benefits one is you retain the upside potential of the asset that you're holding as collateral uh and two there are no tax implications this is something that is widely available to uh Bank banking private clients who have millions of dollars in assets they're able to just borrow against those assets uh via a line of credit now this is not something that's widely available to people and uh crypto borrowing protocols uh democratize access uh to those Services um but with each one of those uh Solutions you know they may work on a given chain like for example a um on eth but that requires wrapping and bridging of different assets to eth but we live in a multi-chain world um so being able to take any assets you have on any chain and borrow against them uh it's a huge unlock absolutely definitely want to keep building on that a little bit further and maybe Allan to you building somewhat of a similar solution in a different context really tacking tradable Perpetual debt um and as I Was preparing for this I had to really Google tradable Perpetual debt I'm like what hold on let's back up so maybe for someone who isn't deeply into defi first can you explain tradeable Perpetual debt and then also share a little bit more about again how you arrived uh at your solution well you had a very interesting Insight when we were out there and you were like oh that sounds like bonds and I was like well not really but yes so tradeable basically what we building is uh the ability to uh issue debt against any asset same thing uh but if you think about what's happening on chain right now and and the biggest use case is is all about swapping uh existing tokens and basically getting margin loans against that it's like basically can you actually lever up your your positions and and all of these positions are usually very fungible um then the question becomes how do you move on to credit how do you actually then underwrite or or take loans against things that are not as liquid that are not uh as fungible and there's when you start going sort of into into credit uh and solutions that are there right now and in the real world is like peer-to-peer like I give you a loan I get whatever I have bar of gold and I'll give it for you for something and you'll give it back to me um but that doesn't scale and and here's where there's a bit of an inspiration from from The Real World um I always believe there's like certain Solutions in the real world that that solve problems in this particular case it's liquidity and lending has a liquidity problem on chain uh and the solution is really like let let's not get all these uh assets to be lent out it's really like can we mint debt and then have that be a fungible uh asset itself right and if you look at the world from a credit perspective it's really there's about 200 trillion in in in debt 100 trillion of that is the bond market basically mostly treasuries us governments uh issuing debt and the next and another 100 trillion is is really Bank deposits but that bank deposit is basically minting money a very senior tranch of debt uh against loans very non-fungible loans so um we're pretty much building that the ability to like issue debt that's tradeable um key difference that's only enabled uh on chain and this is a bit of unlock is that you don't have maturities anymore like if you think in the real world everything has a maturity and then you have have to roll over and what not we ours are Perpetual it's it's an instrument that goes on forever uh but the price it trades at uh indicates what is the risk of that asset and hence the interest rate that that asset is acre uh so it's a very big alock in terms of like how to provide liquidity to like um not as liquid assets basically yeah yeah um in folks you can see the theme of big unlocks in the context of defi here and maybe Franco to go to you as well I mean you're taking also you know a larger scale approach by looking at eliminating bridging in in in oracles entirely can you tell us a little bit more about how that Insight just came to you and the Omni Lane team and how that's informed your approach yeah um so as I mentioned we have a you know background of blockchain development company I see a lot of clients uh coming up to develop new blockchains uh you see uni chain launching as well so kind of kind of looks like the future is going to be blockchains for you know four applications with specified use cases um so in order to build onto that future um you need a truly scalable solution that doesn't rely on infrastructure and a lot of infrastructure being deployed on each chain so that means uh if you if you have a cross chain swap uh and you need um a bridge for that to work or you need an oracle for that to work that's a lot of infrastructure that moves really slow um so uh there's a lot of unattended markets right now because they don't have such infrastructure so that's one issue and the other issue is that nowadays a lot of Crossing swaps or Bridges they use uh amm models so that means that a lot of the money is used as sandbags to provide price uh resistance uh for swapping um so what we came up with is a solution that's truly scalable because it has uh almost 100% Capital efficiency meaning that if I have 100 USC it's not like each USC is going to is going to be more expensive uh the more you trade I can you know uh trade that amount at spot price and then uh we can truly Deploy on any chain because we don't rely on oracles and we don't we don't need all those parties uh for our protocol to work um the key for that uh is you know our secret source is communative State consensus uh which is an algorithm that allows essentially the two parties involved on a trade uh to share all the information required and consent uh and kind of Reach This consensus about the cumulative deposits of the counted party for the trade um so yeah that has been our approach and that has been our vision love it and I think what's so powerful is how each one of these solutions kind of interact and compound on top of each other and maybe Royal we can go back to you um you gave us again High Lev context on what informed the origin of Templar can you tell us a little bit more about how you've brought this solution to life particularly a little bit more about your go to market I know you're looking at targeting um chains that don't necessarily have native uh defi Solutions yeah can you expand on that a little bit more for folks uh just on your go to market strategy and how you're bringing this to life yeah our goto Market strategy is focusing on uh assets that don't have native defi right so Bitcoin do even Ripple uh Litecoin cardano like uh these are all assets that people are holding like in trillions across exchanges and wallets um and their options are they trust a centralized custodian uh which you know happens with in which Celsius happens right um uh so that's not desirable uh you can alternatively wrap and Bridge those assets which not only is a you know High friction poor user experience uh but it's it's just it it it it it it it just doesn't you know it adds extra risk layers as well um so the go to market is really focusing on those assets um that are unmet they have unta demand uh and then we can also address the long tail of assets as well um via our modular design they can just permissionless deploy vaults uh for those assets as well um so it's really you know going after an untapped Market to start uh and then expanding from there given the the fact that uh it is Omni chain uh with via chain signatures and Alan similar question for you but I also have to imagine just given the nature of what you're building price Discovery for that debt matters so much can you also expand a little bit more on how you've brought this solution to life via goto Market but tell us a little bit more about price Discovery and how you've just navigated probably the inherent opportunity and challenge with that as as well I'll I'll I'll give two answ to that question in many ways because the product that's live now uh uses sort of uh existing fungible tokens uh in many ways like things that could be uh could be used as collateral for for margin loans uh and and we basically testing and having a use case for tradable debt right um but I see the the next step and that's the that's the the path and especially related to counter abstraction is I see a future where there's a going to be multiple chains where real world assets are being tokenized uh and there's there's two aspects there one is price discovery of all of the all of these assets and they're this bit of a real real world connection uh but the second I think more interesting is um how do you underwrite the user right like basically a user will not have all their assets on one chain they will have the assets in different chains that are purposely built for whatever asset is being held there uh and then when you start start thinking about uh minting debt for that user uh from an intent point of view uh that's when you start thinking like okay can I see the user across all chains uh connecting a little bit to AI from from yesterday's uh talks and near like can I can I have agents that go through all your assets across all chains um agents and do the underwriting uh and that's the price Discovery um but then put it all together and then basically mint debt against all of your assets I don't know if that that answers the question very very much does above and beyond um and then Franco for you as well given the nature of what you're building and truly you know kind of flipping defi on its head a bit curious if you've faced any challenges just with adoption overall because it is the behavior is so ingrained I think in in the minds of of folks in using the existing D5 Primitives obviously this is Cates a better experience but we love to hear a little bit more about how you navigated that in bringing truly an innovation Innovative solution to to Market yeah that's a good question so um uh we have launched on test net so far uh we're looking to launch into production uh at the end of this year um so so far uh our users have been you know mostly tested users um and particularly you know part of our go to market strategy at first was to uh reach out to potential projects that could integrate the yeah the technology in order to allow their users uh for kind of this seamless Crossing application um uh experience um I think uh you know the the the feedback we got so far uh from this initial potential Integrations uh has been very positive um it's you know the the the simplest way to tell about it is that um for the user uh for example on lending protocols uh users could use their Bitcoin to be supplied on uh on Templar or on Covenant or or the they use uh their uh usdc on polygon um and the way that it will work uh is uh by our layer of uh compos ability um that will allow for first uh do a cross CH either Bridge or swap uh into the destination chain and then once it arrived uh you can swap for if let's say it's a meanc and there's no liquidity on the on the on OPN Lane for that uh you can simply um Bridge uh USC and then once it arrived so to the mean coin and then Supply that as collateral or you could repay death um I see you know user experience um is more and more scatter uh you got tokens on one chain and the other and then maybe you have to repay $100 and you have 20 there 15 there and you know uh you need to do some something quick um and uh you know OPN Lane can be kind of a clear venue for that uh to Simply use the tokens directly into the protocol and don't have have to kind of the go through that painful experience of bridging find the bridge waiting and then kind of your position is more and more risky um so yeah uh I would say you know so far so good which is great to hear and I know we've spent a fair amount of time talking about Solutions and I think sometimes as a Founder the hardest thing to do is talking about Solutions so I actually want to zoom out and talk about the market a little bit um and frco you brought it up of just and I think all of you are eliminating kind of pain points for users along your way and curious if there's been a unique Behavior or unique Insight from the users or customers that you're engaging that has surprised you just in your process of building open to anyone Royal I see your hand we can start with you I'd like to highlight actually a pain point that a a friend of mine experienced very recently he wanted to bet on the outcome of the US election on poly market now he's not very crypto Savvy um so you know he knew that okay there's this address that I send the eth to right uh and he sent that on ethereum mainnet right but on poly Market you need to do that on polygon Network right uh so then you know he had the contact support and it's not clear whether or not he's going to get his money back yeah that's uh a very uh clear uh example of a problem that is solved uh by kind of chain abstraction and chain signatures right doesn't matter what network you're working the user shouldn't have to care about that they should should just care about what type of funds they have and what they want to do with them not the technical details of which chain that it's on so I think I think we're all making steps towards solving that no question no question and Alan Franco curious any insights or observations on the behavior side whether it's pain or actually just user Behavior yeah so so regarding pain I mean I I can speak uh mostly for for myself um you know uh going back again to to to my background uh you know at R laps you know most of our uh yeah financials are in crypto um so we handle a lot of crypto uh and sometimes we you know we receive know a payment on Tron then we receive a payment on Solana and you know all these different chains and we need we need to move the money so overall you know per month we're like uh moving over half a million dollars uh and I know you know from firsthand kind of how painful that is you know Finding what brid has liquidity today maybe tomorrow it won't um and and kind of uh navigate all that pain Point uh that the users you know we assume are also receiving um uh also you know very excited about uh the the intense movements uh we you know at we were uh kind of working on our solution we weren't kind of uh looking uh to the broader ecosystem and we had a nice surprise when we realized that we were what we were doing had a name already and that was intense and once we compare Solutions even with for example uh the uh the the standard that cross um that across and Unis swap released uh we we compared notes and we realized it was pretty similar so that was that was you know kind of nice Insight that we were actually kind of into a real issue and that others were also kind of find Solutions um so yeah that was asked I think three three learnings or observations um the first going out and getting users uh the first thing that that came out is that or struck me is that most users right now in crypto right and this comes from the previous def sumon whatnot they all sort of like de Traders they all just want to lever up uh bet on something and and want to see it go up and whatnot right uh like crazy um the second is uh the amount of uh liquidity fragmentation that exists out there and a lot of the solutions are like yes you can have shared liquidity but against and this is like a against six or seven liquid tokens but if you start going down the long tail and this is where people get very interested like it just becomes impossible right yeah and their chain abstraction kind of helps and then the third is lots and lots of conversations with people bringing new assets on chain yep thinking about landing and start thinking about credit and hitting that wall of like uh lack of liquidity because of fragmentation and because most users right now on crypto are not looking for like a 3% yield 5% yield or whatever is across above treasury rates right and so it becomes a bit of a mismatch that I think slowly slowly and you see this across the market I guess that's the fourth Insight spreads are are are going down right like everybody's like oh I could get 20% and then now as you get more and more assets on chain everything is going down down down I think the more the existing users get used to like okay these are the new rates yep um it'll become easier for new assets to then get uh liquidity which I think Alan goes next to my next question and would love for maybe you to kick it off is when you think about long-term building in this space how do you think about retention and ultimately actually building trust with your user which I I personally believe is one of the most compelling Moes in this space is trust so curious how that comes up for you and how you think about that no right or wrong answers here more just curious how you think about it and we can go around I I'm I'm very conflicted because I'm in many ways and this is just my nature I'm I like systems and so I like sort of a decentralized system that works uh I think the reality is uh for building companies and Trust whatnot you kind of have to be like a a bit of a centralized brand yeah like people have to recognize you you have to have that front end that people Trust you can go to will solve across chains or whatnot uh and so I would say the answer there is uh yeah build build a good brand that gives a solution to to to people and makes it really easy for people yeah curious Franco Roy if you have any other thoughts there as well um from our position uh how to build you know I I I relate to to Allan's point of building brand um and for us uh we're trying to position OPN Lane as infrastructure layer um obviously we will have let's say a a front end uh that'll be for our cross chain swap solution uh but that's just kind of the simplest use case of you know what op L can achieve um so for us kind of putting us into the infrastructure level we need to provide kind of a brand of security uh resilience uh you know it will it won't ever fail and things like that um so uh for us it's kind of building more on the tech side which is what I love honestly um so so focusing on the tech side uh building something really scalable secure and that is Battle tested uh and yeah going into uh production one step at a time amazing yeah I'd like to build on um what both of you have said uh there's two things one component you definitely need Technical scalability and actually for it to work in the long run all the big tech companies they they they they function based off of sharding right um and that's part of the what initially attracted me to near is I believe that in the long run uh sharding is a very good way to scale blockchains right um so obviously you need you need proper Tech to build on that lasts in the long run uh and I think that even the good actors within the space that have built products unfortunately most of the infrastructure that they've built on has not been scalable to date right so I think uh that's obviously been uh a big barrier another one uh building on the brand is just uh good behavior right treat your users the way you'd want to be treated um some a lot of people are in crypto because we feel like we have a moral authority to traditional Finance they don't treat people well there are billions of people that are excluded by traditional finance and frankly they just serve uh the interests of a very select you our goal is to serve everyone equally level the economic playing field um so we need to step up to the plate and uh act properly there um yeah I I think I think the tech and um behaving well um are going to be the uh the key things uh that we need to do and uh finally if I may add um there needs to be uh better uh acceptance uh from both people and governments around the world for in order for this to work well uh quickly uh certainly crypto is wartime Tech uh it's uh protecting you against um poor uh behavior from governments uh and large corporations um but you know you need to be able to send uh those assets and you need to be able to participate without fear of being thrown in jail or uh the IRS or other tax authorities coming after you for simply uh transacting with your own money not even form Behavior man maybe you should have moderated this panel thank you for sharing that incredibly powerful we have two minutes here left folks I want to go rapid fire down the line and Royal you actually kind of already started it off number one biggest misconception about building in Defi and number two any advice you would have to aspiring defi Founders we'll go Rapid Fire Down the Line Franco we can start with you ah uh that's a tough one uh biggest misconception of building defi um so I would say uh at least from me and you kind of um counteracting what I say earlier about focusing on the tech side um you know when I was coming in and this is kind of my my my first uh kind of founder um defa project being as a Founder um uh I I guess I'm focusing too way too much on the tech perhaps uh I should focus a little bit more on the commity Community side um I I got some people um uh actually yeah telling me that uh so I I would say that that's my biggest uh uh issue right now I I I should you know we should be kind of focusing a little bit more on uh the testing on the test net um opening uh testet for the community and yeah uh with that comment uh yeah I'm saying that uh on December first uh we're doing kind of our open uh test net for the public uh would probably be incentivizing that as well uh in collaborations with uh some people from the near Foundation uh thanks for that uh yeah I would say that's fine amazing 30 seconds each for both you Allan and Royal I think from from a Founder perspective the the biggest uh misconception or or or or thing about uh defi is is the the the Reliance on community community is really really really huge uh anything in in defi or crypto you want to build the second I think for anybody uh the crypto Community themselves they don't realize that that defi really really relies a lot on centralized Finance there's a stronger connection than most people realize um yeah uh defi is not just for dents those are just the people that are kind of the largest users and the most loud in the space uh defi uh enables the financial Primitives for Global free markets without interference and that is for everyone to participate in not just you J incredible can we give a round of applause for the folks building the future of defi all right thank you all for coming out to this panel","transcript_synced_at":"2026-11-03T05:21:35.525Z","segments":[{"start_seconds":0,"text":"but very excited for this conversation today uh my name is Jared Barnes I'm head of founder success at the near foundation and have the opportunity to","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=0s"},{"start_seconds":7,"text":"work with all of our Founders and Builders um who are deploying amazing products on near you heard earlier today","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=7s"},{"start_seconds":15,"text":"from harit the infinex team and just now from Zaki about all the Innovation happening in the defi space on near um and now I'm excited to actually have a","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=15s"},{"start_seconds":22,"text":"conversation with the folks who are building those Solutions um and actually doing the work of innovation so we have","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=22s"},{"start_seconds":30,"text":"three amazing Founders uh here today I'm going to allow uh them to introduce themselves um and really dig in and of course it wouldn't be a panel if we","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=30s"},{"start_seconds":37,"text":"didn't spend time on predictions for the future so if we have time we'll get into that as well uh but we can start here with Franco please feel free to introduce yourself all right thank you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=37s"},{"start_seconds":45,"text":"for having me um so my name is Franco I'm the co-founder of OPN Lan I got my co-founder there as well fero um I have","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=45s"},{"start_seconds":54,"text":"a background on electronics uh was also a Dropout and then started my uh entrepreneu path um I buil raps which is","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=54s"},{"start_seconds":62,"text":"a software development company about 130 people now uh gotten uh quite successful and also built other projects uh more on","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=62s"},{"start_seconds":70,"text":"the AI side uh we built um an AI system for interviewing people uh we built also transcri which is one of the fastest","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=70s"},{"start_seconds":79,"text":"WhatsApp applications on latam it's gotten uh 3.5 million users um and other stuff as well uh during all this time um","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=79s"},{"start_seconds":88,"text":"now we're building oping uh which is uh essentially kind of unifying um liquidity across chain it's a liquidity","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=88s"},{"start_seconds":95,"text":"layer that B on top of chain signatures uh that hopefully will allow users to experience a seamless ux across any","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=95s"},{"start_seconds":103,"text":"different chain and any different protocol amazing uh Alan Hampton co-founder of Covenant um from a background","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=103s"},{"start_seconds":111,"text":"perspective a mixed bag uh PhD artificial intelligence then management consulting still recovering and have","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=111s"},{"start_seconds":119,"text":"been doing a bit of AI uh and before Co and started with a couple of friends a fully licensed US","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=119s"},{"start_seconds":127,"text":"Bank my name is Royal fo uh I'm an engineer by background uh I'm building Templar which is a chain abstracted","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=127s"},{"start_seconds":135,"text":"modular borrowing protocol that allows you to deposit assets on any chain uh as","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=135s"},{"start_seconds":142,"text":"collateral and borrow against them amazing um so I really want to dig in on each of your use cases but I also want to dig in a little a little bit to what","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=142s"},{"start_seconds":151,"text":"led you to arriving to the Solutions in what you're building today and maybe Royal we can start with you first if you're comfortable can you give us the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=151s"},{"start_seconds":158,"text":"backstory on Royal fool as a name also so uh it's related to uh Templar the Templar Bank was um the First","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=158s"},{"start_seconds":166,"text":"International Bank and pioneered a number of financial Innovations The Travelers check international finance uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=166s"},{"start_seconds":173,"text":"the actual um estate uh and a lot of other things um so that was the inspiration we took took for the company","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=173s"},{"start_seconds":180,"text":"and going with the Medieval theme uh the Royal fool is the King's Chester he's always free to speak his mind um which I enjoy doing um so that's that's kind of","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=180s"},{"start_seconds":189,"text":"the background uh on the actual name there um and then the yeah the inspiration for uh what we're building","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=189s"},{"start_seconds":197,"text":"uh comes from a problem that I myself faced as well as many other people that holds crypto uh and that is namely you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=197s"},{"start_seconds":204,"text":"know with the assets that you hold you know if you want to do something IRL with those assets um unfortunately","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=204s"},{"start_seconds":212,"text":"there's a bit of a a crypto acceptance problem right um so if you want to uh it's it's not just purely like an","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=212s"},{"start_seconds":220,"text":"adoption problem it's it's a regulatory problem if you own uh Bitcoin eth near Etc uh you can't just go and buy a house","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=220s"},{"start_seconds":229,"text":"with that right there's a bunch of regulatory headaches for that um tax implications you know kyc all all the all this stuff that you know they they","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=229s"},{"start_seconds":237,"text":"really really try and block you uh so a good solution to that uh is that you borrow against your assets now this pre","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=237s"},{"start_seconds":246,"text":"presents a several benefits one is you retain the upside potential of the asset that you're holding as collateral uh and two there are no tax","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=246s"},{"start_seconds":255,"text":"implications this is something that is widely available to uh Bank banking private clients who have millions of","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=255s"},{"start_seconds":262,"text":"dollars in assets they're able to just borrow against those assets uh via a line of credit now this is not something that's widely available to people and uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=262s"},{"start_seconds":271,"text":"crypto borrowing protocols uh democratize access uh to those Services um but with each one of those uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=271s"},{"start_seconds":279,"text":"Solutions you know they may work on a given chain like for example a um on eth but that requires wrapping and bridging","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=279s"},{"start_seconds":287,"text":"of different assets to eth but we live in a multi-chain world um so being able to take any assets you have on any chain","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=287s"},{"start_seconds":295,"text":"and borrow against them uh it's a huge unlock absolutely definitely want to keep building on that a little bit further and maybe Allan to you building","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=295s"},{"start_seconds":304,"text":"somewhat of a similar solution in a different context really tacking tradable Perpetual debt um and as I Was preparing for this I had to really Google tradable Perpetual debt I'm like","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=304s"},{"start_seconds":312,"text":"what hold on let's back up so maybe for someone who isn't deeply into defi first can you explain tradeable Perpetual debt","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=312s"},{"start_seconds":319,"text":"and then also share a little bit more about again how you arrived uh at your solution well you had a very interesting Insight when we were out there and you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=319s"},{"start_seconds":327,"text":"were like oh that sounds like bonds and I was like well not really but yes so tradeable basically what we","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=327s"},{"start_seconds":335,"text":"building is uh the ability to uh issue debt against any asset same thing uh but if you think about what's happening on chain right now and and the biggest use","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=335s"},{"start_seconds":344,"text":"case is is all about swapping uh existing tokens and basically getting margin loans against that it's like basically can you actually lever up your","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=344s"},{"start_seconds":351,"text":"your positions and and all of these positions are usually very fungible um then the question becomes how do you move on to credit how do you actually","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=351s"},{"start_seconds":359,"text":"then underwrite or or take loans against things that are not as liquid that are not uh as fungible and there's when you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=359s"},{"start_seconds":367,"text":"start going sort of into into credit uh and solutions that are there right now and in the real world is like peer-to-peer like I give you a loan I","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=367s"},{"start_seconds":375,"text":"get whatever I have bar of gold and I'll give it for you for something and you'll give it back to me um but that doesn't scale and and here's where there's a bit","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=375s"},{"start_seconds":384,"text":"of an inspiration from from The Real World um I always believe there's like certain Solutions in the real world that that solve problems in this particular","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=384s"},{"start_seconds":391,"text":"case it's liquidity and lending has a liquidity problem on chain uh and the solution is really like let let's not","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=391s"},{"start_seconds":398,"text":"get all these uh assets to be lent out it's really like can we mint debt and then have that be a fungible uh asset","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=398s"},{"start_seconds":406,"text":"itself right and if you look at the world from a credit perspective it's really there's about 200 trillion in in in debt 100 trillion of that is the bond","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=406s"},{"start_seconds":415,"text":"market basically mostly treasuries us governments uh issuing debt and the next and another 100 trillion is is really","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=415s"},{"start_seconds":422,"text":"Bank deposits but that bank deposit is basically minting money a very senior tranch of debt uh against loans very","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=422s"},{"start_seconds":430,"text":"non-fungible loans so um we're pretty much building that the ability to like issue debt that's tradeable um key","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=430s"},{"start_seconds":438,"text":"difference that's only enabled uh on chain and this is a bit of unlock is that you don't have maturities anymore","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=438s"},{"start_seconds":446,"text":"like if you think in the real world everything has a maturity and then you have have to roll over and what not we ours are Perpetual it's it's an","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=446s"},{"start_seconds":453,"text":"instrument that goes on forever uh but the price it trades at uh indicates what is the risk of that asset and hence the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=453s"},{"start_seconds":461,"text":"interest rate that that asset is acre uh so it's a very big alock in terms of like how to provide liquidity to like","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=461s"},{"start_seconds":469,"text":"um not as liquid assets basically yeah yeah um in folks you can see the theme of big unlocks in the context of defi","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=469s"},{"start_seconds":476,"text":"here and maybe Franco to go to you as well I mean you're taking also you know a larger scale approach by looking at eliminating bridging in in in oracles","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=476s"},{"start_seconds":485,"text":"entirely can you tell us a little bit more about how that Insight just came to you and the Omni Lane team and how that's informed your approach yeah um so","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=485s"},{"start_seconds":494,"text":"as I mentioned we have a you know background of blockchain development company I see a lot of clients uh coming up to develop new blockchains uh you see","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=494s"},{"start_seconds":502,"text":"uni chain launching as well so kind of kind of looks like the future is going to be blockchains for you know four applications","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=502s"},{"start_seconds":510,"text":"with specified use cases um so in order to build onto that future um you need a truly scalable solution that doesn't","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=510s"},{"start_seconds":518,"text":"rely on infrastructure and a lot of infrastructure being deployed on each chain so that means uh if you if you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=518s"},{"start_seconds":525,"text":"have a cross chain swap uh and you need um a bridge for that to work or you need an oracle for that to work that's a lot","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=525s"},{"start_seconds":532,"text":"of infrastructure that moves really slow um so uh there's a lot of unattended markets right now because they don't","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=532s"},{"start_seconds":541,"text":"have such infrastructure so that's one issue and the other issue is that nowadays a lot of Crossing swaps or","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=541s"},{"start_seconds":548,"text":"Bridges they use uh amm models so that means that a lot of the money is used as sandbags to provide price uh resistance","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=548s"},{"start_seconds":557,"text":"uh for swapping um so what we came up with is a solution that's truly scalable because it has uh almost 100% Capital","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=557s"},{"start_seconds":567,"text":"efficiency meaning that if I have 100 USC it's not like each USC is going to is going to be more expensive uh the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=567s"},{"start_seconds":574,"text":"more you trade I can you know uh trade that amount at spot price and then uh we can truly Deploy on any chain because we","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=574s"},{"start_seconds":583,"text":"don't rely on oracles and we don't we don't need all those parties uh for our protocol to work um the key for that uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=583s"},{"start_seconds":590,"text":"is you know our secret source is communative State consensus uh which is an algorithm that allows essentially the two parties","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=590s"},{"start_seconds":598,"text":"involved on a trade uh to share all the information required and consent uh and kind of Reach This consensus about the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=598s"},{"start_seconds":607,"text":"cumulative deposits of the counted party for the trade um so yeah that has been our approach and that has been our vision love it and I think what's so","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=607s"},{"start_seconds":616,"text":"powerful is how each one of these solutions kind of interact and compound on top of each other and maybe Royal we can go back to you um you gave us again","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=616s"},{"start_seconds":624,"text":"High Lev context on what informed the origin of Templar can you tell us a little bit more about how you've brought this solution to life particularly a","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=624s"},{"start_seconds":631,"text":"little bit more about your go to market I know you're looking at targeting um chains that don't necessarily have native uh defi Solutions yeah can you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=631s"},{"start_seconds":639,"text":"expand on that a little bit more for folks uh just on your go to market strategy and how you're bringing this to life yeah our goto Market strategy is","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=639s"},{"start_seconds":646,"text":"focusing on uh assets that don't have native defi right so Bitcoin do even","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=646s"},{"start_seconds":654,"text":"Ripple uh Litecoin cardano like uh these are all assets that people are holding","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=654s"},{"start_seconds":660,"text":"like in trillions across exchanges and wallets um and their options are they","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=660s"},{"start_seconds":667,"text":"trust a centralized custodian uh which you know happens with in which Celsius happens right um uh so that's not","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=667s"},{"start_seconds":676,"text":"desirable uh you can alternatively wrap and Bridge those assets which not only is a you know High friction poor user","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=676s"},{"start_seconds":685,"text":"experience uh but it's it's just it it it it it it it just doesn't you know it adds extra risk layers as well um so the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=685s"},{"start_seconds":694,"text":"go to market is really focusing on those assets um that are unmet they have unta demand uh and then we can also address","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=694s"},{"start_seconds":702,"text":"the long tail of assets as well um via our modular design they can just permissionless deploy vaults uh for","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=702s"},{"start_seconds":711,"text":"those assets as well um so it's really you know going after an untapped Market to start uh and then expanding from","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=711s"},{"start_seconds":718,"text":"there given the the fact that uh it is Omni chain uh with via chain signatures and Alan similar question for","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=718s"},{"start_seconds":727,"text":"you but I also have to imagine just given the nature of what you're building price Discovery for that debt matters so much can you also expand a little bit","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=727s"},{"start_seconds":736,"text":"more on how you've brought this solution to life via goto Market but tell us a little bit more about price Discovery and how you've just navigated probably the inherent opportunity and challenge","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=736s"},{"start_seconds":744,"text":"with that as as well I'll I'll I'll give two answ to that question in many ways because the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=744s"},{"start_seconds":751,"text":"product that's live now uh uses sort of uh existing fungible tokens uh in many","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=751s"},{"start_seconds":758,"text":"ways like things that could be uh could be used as collateral for for margin loans uh and and we basically testing","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=758s"},{"start_seconds":766,"text":"and having a use case for tradable debt right um but I see the the next step and that's the that's the the path and","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=766s"},{"start_seconds":775,"text":"especially related to counter abstraction is I see a future where there's a going to be multiple chains where real world assets are being","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=775s"},{"start_seconds":782,"text":"tokenized uh and there's there's two aspects there one is price discovery of all of the all of these assets and they're this bit of a real real world","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=782s"},{"start_seconds":790,"text":"connection uh but the second I think more interesting is um how do you underwrite the user right like","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=790s"},{"start_seconds":798,"text":"basically a user will not have all their assets on one chain they will have the assets in different chains that are purposely built for whatever asset is","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=798s"},{"start_seconds":806,"text":"being held there uh and then when you start start thinking about uh minting debt for that user uh from an intent point of view uh that's when you start","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=806s"},{"start_seconds":815,"text":"thinking like okay can I see the user across all chains uh connecting a little bit to AI from from yesterday's uh talks and near","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=815s"},{"start_seconds":824,"text":"like can I can I have agents that go through all your assets across all chains um agents and do the underwriting uh and that's the price","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=824s"},{"start_seconds":833,"text":"Discovery um but then put it all together and then basically mint debt against all of your assets I don't know","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=833s"},{"start_seconds":840,"text":"if that that answers the question very very much does above and beyond um and then Franco for you as well given the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=840s"},{"start_seconds":848,"text":"nature of what you're building and truly you know kind of flipping defi on its head a bit curious if you've faced any challenges just with adoption overall","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=848s"},{"start_seconds":857,"text":"because it is the behavior is so ingrained I think in in the minds of of folks in using the existing D5","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=857s"},{"start_seconds":864,"text":"Primitives obviously this is Cates a better experience but we love to hear a little bit more about how you navigated that in bringing truly an innovation","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=864s"},{"start_seconds":871,"text":"Innovative solution to to Market yeah that's a good question so um uh we have launched on test net so far uh we're","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=871s"},{"start_seconds":878,"text":"looking to launch into production uh at the end of this year um so so far uh our users have been you know mostly tested","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=878s"},{"start_seconds":887,"text":"users um and particularly you know part of our go to market strategy at first was to uh reach out to potential","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=887s"},{"start_seconds":894,"text":"projects that could integrate the yeah the technology in order to allow their users uh for kind of this seamless","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=894s"},{"start_seconds":901,"text":"Crossing application um uh experience um I think uh you know the the the feedback we got so far uh from","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=901s"},{"start_seconds":910,"text":"this initial potential Integrations uh has been very positive um it's you know the the the simplest way to tell about it is that um for the user uh for","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=910s"},{"start_seconds":919,"text":"example on lending protocols uh users could use their Bitcoin to be supplied on uh on Templar or on Covenant or or","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=919s"},{"start_seconds":928,"text":"the they use uh their uh usdc on polygon um and the way that it will work uh is","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=928s"},{"start_seconds":935,"text":"uh by our layer of uh compos ability um that will allow for first uh do a cross","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=935s"},{"start_seconds":942,"text":"CH either Bridge or swap uh into the destination chain and then once it arrived uh you can swap for if let's say","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=942s"},{"start_seconds":950,"text":"it's a meanc and there's no liquidity on the on the on OPN Lane for that uh you can simply um Bridge uh USC and then","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=950s"},{"start_seconds":957,"text":"once it arrived so to the mean coin and then Supply that as collateral or you could repay death um I see you know user","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=957s"},{"start_seconds":964,"text":"experience um is more and more scatter uh you got tokens on one chain and the other and then maybe you have to repay","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=964s"},{"start_seconds":973,"text":"$100 and you have 20 there 15 there and you know uh you need to do some something quick um and uh you know OPN","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=973s"},{"start_seconds":981,"text":"Lane can be kind of a clear venue for that uh to Simply use the tokens directly into the protocol and don't","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=981s"},{"start_seconds":988,"text":"have have to kind of the go through that painful experience of bridging find the bridge waiting and then kind of your","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=988s"},{"start_seconds":995,"text":"position is more and more risky um so yeah uh I would say you know so far so good which is great to hear and I know","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=995s"},{"start_seconds":1002,"text":"we've spent a fair amount of time talking about Solutions and I think sometimes as a Founder the hardest thing to do is talking about Solutions so I actually want to zoom out and talk about","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1002s"},{"start_seconds":1010,"text":"the market a little bit um and frco you brought it up of just and I think all of you are eliminating kind of pain points for users along your way and curious if","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1010s"},{"start_seconds":1019,"text":"there's been a unique Behavior or unique Insight from the users or customers that you're engaging that has surprised you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1019s"},{"start_seconds":1026,"text":"just in your process of building open to anyone Royal I see your hand we can start with you I'd like to highlight actually a pain point that a a friend of","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1026s"},{"start_seconds":1034,"text":"mine experienced very recently he wanted to bet on the outcome of the US election on poly market now he's not very crypto","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1034s"},{"start_seconds":1042,"text":"Savvy um so you know he knew that okay there's this address that I send the eth to right uh and he sent that on ethereum","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1042s"},{"start_seconds":1052,"text":"mainnet right but on poly Market you need to do that on polygon Network right","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1052s"},{"start_seconds":1059,"text":"uh so then you know he had the contact support and it's not clear whether or not he's going to get his money back yeah that's uh a very uh clear uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1059s"},{"start_seconds":1068,"text":"example of a problem that is solved uh by kind of chain abstraction and chain signatures right doesn't matter what network you're working the user","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1068s"},{"start_seconds":1076,"text":"shouldn't have to care about that they should should just care about what type of funds they have and what they want to do with them not the technical details","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1076s"},{"start_seconds":1084,"text":"of which chain that it's on so I think I think we're all making steps towards solving that no question no question and Alan Franco curious any","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1084s"},{"start_seconds":1093,"text":"insights or observations on the behavior side whether it's pain or actually just user Behavior yeah so so regarding pain","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1093s"},{"start_seconds":1100,"text":"I mean I I can speak uh mostly for for myself um you know uh going back again to to to my background uh you know at R","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1100s"},{"start_seconds":1109,"text":"laps you know most of our uh yeah financials are in crypto um so we handle a lot of crypto uh and sometimes we you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1109s"},{"start_seconds":1117,"text":"know we receive know a payment on Tron then we receive a payment on Solana and you know all these different chains and we need we need to move the money so","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1117s"},{"start_seconds":1126,"text":"overall you know per month we're like uh moving over half a million dollars uh and I know you know from firsthand kind","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1126s"},{"start_seconds":1135,"text":"of how painful that is you know Finding what brid has liquidity today maybe tomorrow it won't um and and kind of uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1135s"},{"start_seconds":1144,"text":"navigate all that pain Point uh that the users you know we assume are also receiving um uh also you know very","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1144s"},{"start_seconds":1152,"text":"excited about uh the the intense movements uh we you know at we were uh kind of working on our solution we","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1152s"},{"start_seconds":1159,"text":"weren't kind of uh looking uh to the broader ecosystem and we had a nice surprise when we realized that we were what we were doing had a name already","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1159s"},{"start_seconds":1168,"text":"and that was intense and once we compare Solutions even with for example uh the uh the the standard that cross um that","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1168s"},{"start_seconds":1177,"text":"across and Unis swap released uh we we compared notes and we realized it was pretty similar so that was that was you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1177s"},{"start_seconds":1184,"text":"know kind of nice Insight that we were actually kind of into a real issue and that others were also kind of find","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1184s"},{"start_seconds":1192,"text":"Solutions um so yeah that was asked I think three three learnings or observations","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1192s"},{"start_seconds":1200,"text":"um the first going out and getting users uh the first thing that that came out is that or struck me is that most users","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1200s"},{"start_seconds":1210,"text":"right now in crypto right and this comes from the previous def sumon whatnot they all sort of like de Traders they all just want to lever up uh bet on","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1210s"},{"start_seconds":1218,"text":"something and and want to see it go up and whatnot right uh like crazy um the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1218s"},{"start_seconds":1224,"text":"second is uh the amount of uh liquidity fragmentation that exists out there and","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1224s"},{"start_seconds":1231,"text":"a lot of the solutions are like yes you can have shared liquidity but against and this is like a against six or seven liquid tokens but if you start going","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1231s"},{"start_seconds":1239,"text":"down the long tail and this is where people get very interested like it just becomes impossible right yeah and their chain abstraction kind of helps and then","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1239s"},{"start_seconds":1246,"text":"the third is lots and lots of conversations with people bringing new assets on chain yep","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1246s"},{"start_seconds":1255,"text":"thinking about landing and start thinking about credit and hitting that wall of like uh lack of liquidity because of fragmentation and because","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1255s"},{"start_seconds":1264,"text":"most users right now on crypto are not looking for like a 3% yield 5% yield or whatever is across above treasury rates","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1264s"},{"start_seconds":1272,"text":"right and so it becomes a bit of a mismatch that I think slowly slowly and you see this across the market I guess that's the fourth Insight spreads are","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1272s"},{"start_seconds":1280,"text":"are are going down right like everybody's like oh I could get 20% and then now as you get more and more assets on chain everything is going down down","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1280s"},{"start_seconds":1287,"text":"down I think the more the existing users get used to like okay these are the new rates yep um it'll become easier for new","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1287s"},{"start_seconds":1297,"text":"assets to then get uh liquidity which I think Alan goes next to my next question and would love for maybe you to kick it","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1297s"},{"start_seconds":1304,"text":"off is when you think about long-term building in this space how do you think about retention and ultimately actually","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1304s"},{"start_seconds":1311,"text":"building trust with your user which I I personally believe is one of the most compelling Moes in this space is trust","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1311s"},{"start_seconds":1317,"text":"so curious how that comes up for you and how you think about that no right or wrong answers here more just curious how you think about it and we can go around","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1317s"},{"start_seconds":1325,"text":"I I'm I'm very conflicted because I'm in many ways and this is just my nature I'm I like systems and so I like sort of a","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1325s"},{"start_seconds":1334,"text":"decentralized system that works uh I think the reality is uh for building companies and Trust whatnot you","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1334s"},{"start_seconds":1341,"text":"kind of have to be like a a bit of a centralized brand yeah like people have to recognize you you have to have that front end that people Trust you can go","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1341s"},{"start_seconds":1349,"text":"to will solve across chains or whatnot uh and so I would say the answer there is uh yeah build build a good brand that","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1349s"},{"start_seconds":1357,"text":"gives a solution to to to people and makes it really easy for people yeah curious Franco Roy if you have any other thoughts there as well um from our","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1357s"},{"start_seconds":1366,"text":"position uh how to build you know I I I relate to to Allan's point of building brand um and for us uh we're trying to","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1366s"},{"start_seconds":1375,"text":"position OPN Lane as infrastructure layer um obviously we will have let's say a a front end uh that'll be for our","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1375s"},{"start_seconds":1383,"text":"cross chain swap solution uh but that's just kind of the simplest use case of you know what op L can achieve um so for","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1383s"},{"start_seconds":1391,"text":"us kind of putting us into the infrastructure level we need to provide kind of a brand of security uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1391s"},{"start_seconds":1399,"text":"resilience uh you know it will it won't ever fail and things like that um so uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1399s"},{"start_seconds":1406,"text":"for us it's kind of building more on the tech side which is what I love honestly um so so focusing on the tech","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1406s"},{"start_seconds":1413,"text":"side uh building something really scalable secure and that is Battle tested uh and yeah going into uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1413s"},{"start_seconds":1420,"text":"production one step at a time amazing yeah I'd like to build on um what both of you have said uh there's two things","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1420s"},{"start_seconds":1429,"text":"one component you definitely need Technical scalability and actually for it to work in the long run all the big","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1429s"},{"start_seconds":1436,"text":"tech companies they they they they function based off of sharding right um and that's part of the what initially","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1436s"},{"start_seconds":1443,"text":"attracted me to near is I believe that in the long run uh sharding is a very","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1443s"},{"start_seconds":1450,"text":"good way to scale blockchains right um so obviously you need you need proper Tech to build on that lasts in the long","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1450s"},{"start_seconds":1457,"text":"run uh and I think that even the good actors within the space that have built products unfortunately most of the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1457s"},{"start_seconds":1466,"text":"infrastructure that they've built on has not been scalable to date right so I think uh that's obviously been uh a big","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1466s"},{"start_seconds":1474,"text":"barrier another one uh building on the brand is just uh good behavior right treat your users the way you'd want to","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1474s"},{"start_seconds":1481,"text":"be treated um some a lot of people are in crypto because we feel like we have a moral authority to traditional Finance","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1481s"},{"start_seconds":1489,"text":"they don't treat people well there are billions of people that are excluded by traditional finance and frankly they just serve uh the interests of a very","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1489s"},{"start_seconds":1497,"text":"select you our goal is to serve everyone equally level the economic playing field um so we need to step up to the plate","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1497s"},{"start_seconds":1507,"text":"and uh act properly there um yeah I I think I think the tech and um behaving","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1507s"},{"start_seconds":1514,"text":"well um are going to be the uh the key things uh that we need to do and uh finally if I may add um there needs to","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1514s"},{"start_seconds":1522,"text":"be uh better uh acceptance uh from both people and governments around the world for in","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1522s"},{"start_seconds":1530,"text":"order for this to work well uh quickly uh certainly crypto is wartime Tech uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1530s"},{"start_seconds":1537,"text":"it's uh protecting you against um poor uh behavior from governments uh and large","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1537s"},{"start_seconds":1545,"text":"corporations um but you know you need to be able to send uh those assets and you need to be able to participate without","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1545s"},{"start_seconds":1552,"text":"fear of being thrown in jail or uh the IRS or other tax authorities coming after you for simply uh transacting with","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1552s"},{"start_seconds":1559,"text":"your own money not even form Behavior man maybe you should have moderated this panel thank you for sharing that incredibly powerful we have","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1559s"},{"start_seconds":1567,"text":"two minutes here left folks I want to go rapid fire down the line and Royal you actually kind of already started it off number one biggest misconception about","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1567s"},{"start_seconds":1577,"text":"building in Defi and number two any advice you would have to aspiring defi Founders we'll go Rapid Fire Down the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1577s"},{"start_seconds":1583,"text":"Line Franco we can start with you ah uh that's a tough one uh biggest misconception of building","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1583s"},{"start_seconds":1591,"text":"defi um so I would say uh at least from me and you kind of um counteracting what I say earlier about focusing on the tech","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1591s"},{"start_seconds":1600,"text":"side um you know when I was coming in and this is kind of my my my first uh kind of","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1600s"},{"start_seconds":1607,"text":"founder um defa project being as a Founder um uh I I guess I'm focusing too way too much on the tech perhaps uh I","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1607s"},{"start_seconds":1615,"text":"should focus a little bit more on the commity Community side um I I got some people um uh actually yeah telling me","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1615s"},{"start_seconds":1623,"text":"that uh so I I would say that that's my biggest uh uh issue right now I I I should you know we should be kind of","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1623s"},{"start_seconds":1631,"text":"focusing a little bit more on uh the testing on the test net um opening uh testet for the community and yeah uh","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1631s"},{"start_seconds":1638,"text":"with that comment uh yeah I'm saying that uh on December first uh we're doing kind of our open uh test net for the public uh would probably be","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1638s"},{"start_seconds":1647,"text":"incentivizing that as well uh in collaborations with uh some people from the near Foundation uh thanks for that","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1647s"},{"start_seconds":1654,"text":"uh yeah I would say that's fine amazing 30 seconds each for both you Allan and Royal I think from from a Founder","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1654s"},{"start_seconds":1662,"text":"perspective the the biggest uh misconception or or or or thing about uh defi is is the the the Reliance on","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1662s"},{"start_seconds":1671,"text":"community community is really really really huge uh anything in in defi or crypto you want to build the second I think for anybody uh the crypto","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1671s"},{"start_seconds":1679,"text":"Community themselves they don't realize that that defi really really relies a lot on centralized Finance there's a","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1679s"},{"start_seconds":1687,"text":"stronger connection than most people realize um yeah uh defi is not just for dents those are just the people that are","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1687s"},{"start_seconds":1695,"text":"kind of the largest users and the most loud in the space uh defi uh enables the financial Primitives for Global free","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1695s"},{"start_seconds":1703,"text":"markets without interference and that is for everyone to participate in not just you J incredible can we give a round of applause for the folks building the","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1703s"},{"start_seconds":1712,"text":"future of defi all right thank you all for coming out to this panel","url":"https://www.youtube.com/watch?v=vBqwHATX0gA&t=1712s"}],"youtube_url":"https://youtube.com/watch?v=vBqwHATX0gA","url":"https://near-pedia.xyz/videos/vBqwHATX0gA"}