Intro to Crowdloans and Parachain Auctions on Polkadot and Kusama

1
00:00:08,320 --> 00:00:12,719
hey everybody

2
00:00:09,200 --> 00:00:15,200
i think we're live um this is dan rieser

3
00:00:12,719 --> 00:00:18,080
from the akala team and i'm joined here

4
00:00:15,200 --> 00:00:18,720
by betty chen i'm one of our co-founders

5
00:00:18,080 --> 00:00:21,920
um

6
00:00:18,720 --> 00:00:24,000
today we're gonna be um probably we're

7
00:00:21,920 --> 00:00:25,760
gonna try to keep it to around an hour

8
00:00:24,000 --> 00:00:27,439
maybe a little bit less but

9
00:00:25,760 --> 00:00:30,160
we're gonna be talking through a few

10
00:00:27,439 --> 00:00:32,160
things so as you know the main topic

11
00:00:30,160 --> 00:00:34,800
is around crowd loans and pair chain

12
00:00:32,160 --> 00:00:37,280
auctions and everything that's coming

13
00:00:34,800 --> 00:00:39,040
for kusama first and then polka dot

14
00:00:37,280 --> 00:00:41,520
following that

15
00:00:39,040 --> 00:00:43,040
but but beginning we're going to

16
00:00:41,520 --> 00:00:44,879
actually go into a little bit of detail

17
00:00:43,040 --> 00:00:47,840
just for those of you who may not be

18
00:00:44,879 --> 00:00:49,920
super aware of how polka dot works and

19
00:00:47,840 --> 00:00:51,600
everything around polka dot and kusama

20
00:00:49,920 --> 00:00:53,280
so we'll start with that and then after

21
00:00:51,600 --> 00:00:54,559
the crowd loan section betty will get

22
00:00:53,280 --> 00:00:57,360
into

23
00:00:54,559 --> 00:00:58,640
everything around akala and karua and

24
00:00:57,360 --> 00:01:00,079
share a little detail around what's

25
00:00:58,640 --> 00:01:03,120
coming soon with the

26
00:01:00,079 --> 00:01:05,680
crowd loan um

27
00:01:03,120 --> 00:01:07,119
we've got a poll here that i did and it

28
00:01:05,680 --> 00:01:09,280
looks like

29
00:01:07,119 --> 00:01:10,880
our average is definitely skewing

30
00:01:09,280 --> 00:01:12,720
towards

31
00:01:10,880 --> 00:01:14,560
i've tried to learn about crowd loans

32
00:01:12,720 --> 00:01:16,159
but i'm confused

33
00:01:14,560 --> 00:01:18,159
so i'm going to try to do a poll at the

34
00:01:16,159 --> 00:01:19,759
end and hopefully

35
00:01:18,159 --> 00:01:22,080
after seeing this presentation many of

36
00:01:19,759 --> 00:01:24,080
you will start moving up that scale

37
00:01:22,080 --> 00:01:25,439
towards understanding

38
00:01:24,080 --> 00:01:26,960
um betty do you want to give a quick

39
00:01:25,439 --> 00:01:29,520
introduction of yourself and then i'll

40
00:01:26,960 --> 00:01:32,400
go ahead and get started

41
00:01:29,520 --> 00:01:33,520
uh yeah sure thanks dan uh yes thanks

42
00:01:32,400 --> 00:01:36,000
for everyone turning up

43
00:01:33,520 --> 00:01:37,439
i know it's all weird time zone uh

44
00:01:36,000 --> 00:01:39,759
around the world uh it's

45
00:01:37,439 --> 00:01:40,640
about 7 30 a.m here in auckland new

46
00:01:39,759 --> 00:01:44,079
zealand

47
00:01:40,640 --> 00:01:45,680
uh yeah i'm the co-founder of acara

48
00:01:44,079 --> 00:01:47,759
yeah i have been leading in charge of

49
00:01:45,680 --> 00:01:49,119
operation products working alongside

50
00:01:47,759 --> 00:01:50,960
with brian retail

51
00:01:49,119 --> 00:01:52,560
and many other you know pretty cool

52
00:01:50,960 --> 00:01:55,280
folks in the ecosystem and

53
00:01:52,560 --> 00:01:57,280
community uh to get to where we are but

54
00:01:55,280 --> 00:02:00,640
i think we're only getting started so

55
00:01:57,280 --> 00:02:02,560
yeah back to you then cool thanks betty

56
00:02:00,640 --> 00:02:05,119
um yeah and i guess it's quick and true

57
00:02:02,560 --> 00:02:06,000
on me so dan reeser i'm uh leading

58
00:02:05,119 --> 00:02:09,360
growth here at

59
00:02:06,000 --> 00:02:12,000
akala and kura been on the team now for

60
00:02:09,360 --> 00:02:13,920
just i think exactly two months now

61
00:02:12,000 --> 00:02:15,920
prior to this spent spent some time at

62
00:02:13,920 --> 00:02:18,080
the web 3 foundation working on

63
00:02:15,920 --> 00:02:19,920
polka dot and kusama so hopefully i can

64
00:02:18,080 --> 00:02:22,000
use some of that knowledge

65
00:02:19,920 --> 00:02:23,520
from from that role and the presentation

66
00:02:22,000 --> 00:02:25,520
today about polka dot

67
00:02:23,520 --> 00:02:27,520
and then um yeah we'll get into kind of

68
00:02:25,520 --> 00:02:32,319
the details around crowd loans

69
00:02:27,520 --> 00:02:32,319
so i'm gonna start sharing my screen

70
00:02:41,440 --> 00:02:44,080
one second

71
00:02:44,879 --> 00:02:47,120
okay

72
00:02:49,599 --> 00:02:57,440
all right everybody can see my screen

73
00:02:53,280 --> 00:03:01,440
and still hear me hopefully

74
00:02:57,440 --> 00:03:04,319
cool okay so

75
00:03:01,440 --> 00:03:05,680
i'm gonna start here with uh with

76
00:03:04,319 --> 00:03:08,159
polkadot so as you know

77
00:03:05,680 --> 00:03:10,800
polkadot was founded by gavin wood who

78
00:03:08,159 --> 00:03:13,519
previously was a co-founder of ethereum

79
00:03:10,800 --> 00:03:15,760
he built the evm the ethereum virtual

80
00:03:13,519 --> 00:03:17,680
machine and he also created the solidity

81
00:03:15,760 --> 00:03:20,319
programming language

82
00:03:17,680 --> 00:03:22,000
but following that experience he kind of

83
00:03:20,319 --> 00:03:22,480
realized that ethereum wasn't going to

84
00:03:22,000 --> 00:03:25,200
scale

85
00:03:22,480 --> 00:03:26,239
and could be much better so he ended up

86
00:03:25,200 --> 00:03:27,840
creating polka dot

87
00:03:26,239 --> 00:03:29,440
building a new programming language

88
00:03:27,840 --> 00:03:30,799
called substrate

89
00:03:29,440 --> 00:03:33,120
which everything in the polka dot

90
00:03:30,799 --> 00:03:34,799
ecosystem is built on and

91
00:03:33,120 --> 00:03:36,319
here we are today getting very close to

92
00:03:34,799 --> 00:03:39,519
actually launching some of the first

93
00:03:36,319 --> 00:03:41,760
pair chains on top of what gavin built

94
00:03:39,519 --> 00:03:43,920
at the highest level what polka dot does

95
00:03:41,760 --> 00:03:45,040
is it solves essentially six key

96
00:03:43,920 --> 00:03:47,920
problems that exist

97
00:03:45,040 --> 00:03:50,000
in today's kind of legacy networks like

98
00:03:47,920 --> 00:03:52,000
ethereum or bitcoin

99
00:03:50,000 --> 00:03:53,760
most notably connecting networks

100
00:03:52,000 --> 00:03:55,360
together so this is the concept of

101
00:03:53,760 --> 00:03:57,040
interoperability that i know

102
00:03:55,360 --> 00:04:01,040
many of you have heard about over the

103
00:03:57,040 --> 00:04:03,840
last um you know three-ish years um

104
00:04:01,040 --> 00:04:05,120
we also as polka dot polka dot also kind

105
00:04:03,840 --> 00:04:08,319
of helps solve

106
00:04:05,120 --> 00:04:10,480
scaling problems it helps with

107
00:04:08,319 --> 00:04:13,439
teams who need security for their

108
00:04:10,480 --> 00:04:15,680
blockchains and i'll get into that later

109
00:04:13,439 --> 00:04:17,919
dot and substrate specifically um in the

110
00:04:15,680 --> 00:04:21,120
bottom left here enables teams to build

111
00:04:17,919 --> 00:04:22,160
custom platforms for for specific use

112
00:04:21,120 --> 00:04:24,080
cases so

113
00:04:22,160 --> 00:04:26,400
in the collis case where we have custom

114
00:04:24,080 --> 00:04:28,000
built our our parachain our blockchain

115
00:04:26,400 --> 00:04:30,320
specifically for defy and

116
00:04:28,000 --> 00:04:31,840
betty will explain that later um

117
00:04:30,320 --> 00:04:33,520
polkadot has also kind of changed the

118
00:04:31,840 --> 00:04:34,800
way governance works taking it out of

119
00:04:33,520 --> 00:04:37,199
the hands of a few people

120
00:04:34,800 --> 00:04:38,320
and into the hands of the entire network

121
00:04:37,199 --> 00:04:40,479
and then last

122
00:04:38,320 --> 00:04:42,240
the ability to self upgrade i kind of

123
00:04:40,479 --> 00:04:43,759
compare this to like a tesla you know

124
00:04:42,240 --> 00:04:45,600
you buy a tesla

125
00:04:43,759 --> 00:04:47,440
and you can actually get these upgrades

126
00:04:45,600 --> 00:04:48,320
over the air that actually add new

127
00:04:47,440 --> 00:04:51,360
features to your

128
00:04:48,320 --> 00:04:52,960
to your car making it you know retain

129
00:04:51,360 --> 00:04:55,919
more value and actually stay

130
00:04:52,960 --> 00:04:58,160
more current and future proof because

131
00:04:55,919 --> 00:04:59,680
you're able to upgrade it as you go

132
00:04:58,160 --> 00:05:01,840
so i'll dive into each one of these

133
00:04:59,680 --> 00:05:04,000
categories very quickly and i think this

134
00:05:01,840 --> 00:05:05,759
is necessary background before we get

135
00:05:04,000 --> 00:05:07,680
into crowd loans because

136
00:05:05,759 --> 00:05:09,199
in order to understand why somebody

137
00:05:07,680 --> 00:05:10,000
would launch on polka dot i think you

138
00:05:09,199 --> 00:05:12,240
need to understand

139
00:05:10,000 --> 00:05:15,039
what polka dot is and why teams like

140
00:05:12,240 --> 00:05:17,199
akala and karua have chosen to build

141
00:05:15,039 --> 00:05:18,160
in this ecosystem where we we had the

142
00:05:17,199 --> 00:05:20,160
choice to build

143
00:05:18,160 --> 00:05:21,520
in several ecosystems and did a lot of

144
00:05:20,160 --> 00:05:22,639
research on that so

145
00:05:21,520 --> 00:05:24,240
hopefully by the end of this you'll

146
00:05:22,639 --> 00:05:26,320
understand why we chose to build on

147
00:05:24,240 --> 00:05:29,840
polka dot and build kura on

148
00:05:26,320 --> 00:05:33,120
akala or sorry build kubra on kusama

149
00:05:29,840 --> 00:05:34,639
um so single block chains like bitcoin

150
00:05:33,120 --> 00:05:36,800
and like ethereum

151
00:05:34,639 --> 00:05:39,280
are some of them do things really well

152
00:05:36,800 --> 00:05:41,919
like bitcoin it does this digital gold

153
00:05:39,280 --> 00:05:43,280
narrative very well um but there's also

154
00:05:41,919 --> 00:05:44,960
chains like ethereum who have done a

155
00:05:43,280 --> 00:05:47,039
phenomenal job with their

156
00:05:44,960 --> 00:05:48,320
kind of single blockchain but they're

157
00:05:47,039 --> 00:05:51,120
attempting to do

158
00:05:48,320 --> 00:05:52,479
kind of everything just with one um one

159
00:05:51,120 --> 00:05:54,160
blockchain

160
00:05:52,479 --> 00:05:55,919
but what polka dot is allowing people to

161
00:05:54,160 --> 00:05:58,240
do is to build

162
00:05:55,919 --> 00:06:00,479
custom blockchains for a specific

163
00:05:58,240 --> 00:06:03,280
purpose like finance or like

164
00:06:00,479 --> 00:06:04,160
gaming or like insurance and these

165
00:06:03,280 --> 00:06:05,759
blockchains

166
00:06:04,160 --> 00:06:07,440
that you can see here each each one of

167
00:06:05,759 --> 00:06:09,120
these little squares is a

168
00:06:07,440 --> 00:06:10,560
blockchain these will all be able to

169
00:06:09,120 --> 00:06:15,039
work together and communicate

170
00:06:10,560 --> 00:06:15,039
data and value between each other

171
00:06:15,600 --> 00:06:19,840
um through through the use of bridges

172
00:06:18,400 --> 00:06:21,600
there's several bridges that are already

173
00:06:19,840 --> 00:06:23,280
being built in the ecosystem but these

174
00:06:21,600 --> 00:06:25,360
bridges will allow

175
00:06:23,280 --> 00:06:26,720
not only polka dot itself but also every

176
00:06:25,360 --> 00:06:29,919
one of these blockchains

177
00:06:26,720 --> 00:06:31,039
around this kind of uh infrastructure

178
00:06:29,919 --> 00:06:33,520
here to

179
00:06:31,039 --> 00:06:34,400
to bridge to to ethereum for example

180
00:06:33,520 --> 00:06:35,840
with a bridge

181
00:06:34,400 --> 00:06:38,080
that's being built by a team called

182
00:06:35,840 --> 00:06:40,080
snowfork um

183
00:06:38,080 --> 00:06:41,759
also bridges to bitcoin there's there's

184
00:06:40,080 --> 00:06:42,800
like at least three or four of those

185
00:06:41,759 --> 00:06:45,039
being built

186
00:06:42,800 --> 00:06:47,199
um and several other blockchain networks

187
00:06:45,039 --> 00:06:48,880
will be bridged

188
00:06:47,199 --> 00:06:50,960
one thing that people ask a lot too is

189
00:06:48,880 --> 00:06:52,479
what about kusama will kusama be able to

190
00:06:50,960 --> 00:06:54,080
interact with polka dot

191
00:06:52,479 --> 00:06:55,599
and the answer is definitely yes and

192
00:06:54,080 --> 00:06:57,599
this will probably be one of the first

193
00:06:55,599 --> 00:07:00,840
bridges that we see built

194
00:06:57,599 --> 00:07:02,639
once kusama and polkadot are initially

195
00:07:00,840 --> 00:07:06,000
launched

196
00:07:02,639 --> 00:07:07,680
so customizability you'll hear about

197
00:07:06,000 --> 00:07:09,759
substrate more and more as you get

198
00:07:07,680 --> 00:07:10,880
deeper into the polka dot and kusama

199
00:07:09,759 --> 00:07:12,720
ecosystem

200
00:07:10,880 --> 00:07:13,919
but essentially what substrate is you

201
00:07:12,720 --> 00:07:16,560
can think of it like

202
00:07:13,919 --> 00:07:17,440
almost like a music eq where you can

203
00:07:16,560 --> 00:07:19,199
tweak things

204
00:07:17,440 --> 00:07:21,280
up and down and change the way the

205
00:07:19,199 --> 00:07:23,360
blockchain actually works for specific

206
00:07:21,280 --> 00:07:25,199
purposes and what that actually looks

207
00:07:23,360 --> 00:07:26,000
like when you're a developer is you're

208
00:07:25,199 --> 00:07:28,639
actually using

209
00:07:26,000 --> 00:07:30,880
something called like substrate palettes

210
00:07:28,639 --> 00:07:32,319
so you can go in and actually choose

211
00:07:30,880 --> 00:07:34,560
pick and choose what parts of your

212
00:07:32,319 --> 00:07:35,919
blockchain you want in order to create

213
00:07:34,560 --> 00:07:39,120
the kind of perfect

214
00:07:35,919 --> 00:07:39,680
blockchain for your use case the cool

215
00:07:39,120 --> 00:07:42,160
thing is

216
00:07:39,680 --> 00:07:44,000
is that this is not capped these

217
00:07:42,160 --> 00:07:46,720
substrate pallets can actually continue

218
00:07:44,000 --> 00:07:48,240
and will continue expanding over time

219
00:07:46,720 --> 00:07:50,160
teams like akala are actually

220
00:07:48,240 --> 00:07:52,560
already custom building pallets that we

221
00:07:50,160 --> 00:07:54,240
can use within our blockchain

222
00:07:52,560 --> 00:07:55,759
and then other teams in the ecosystem

223
00:07:54,240 --> 00:07:57,039
can actually take what we've built and

224
00:07:55,759 --> 00:07:59,520
build upon that

225
00:07:57,039 --> 00:08:02,000
so things like the akala dollar liquid

226
00:07:59,520 --> 00:08:04,319
dot which betty will mention later

227
00:08:02,000 --> 00:08:05,759
our decks are the akala evm that we

228
00:08:04,319 --> 00:08:07,280
customized are all things that are

229
00:08:05,759 --> 00:08:12,160
available at a blockchain

230
00:08:07,280 --> 00:08:14,000
level this is this is pretty

231
00:08:12,160 --> 00:08:15,840
surprising when i heard this number but

232
00:08:14,000 --> 00:08:19,039
the polka dot and kusama are able to

233
00:08:15,840 --> 00:08:21,759
scale to up to around 166 000

234
00:08:19,039 --> 00:08:23,599
transactions per second according to the

235
00:08:21,759 --> 00:08:24,319
the research team at web3 when we talked

236
00:08:23,599 --> 00:08:26,800
last year

237
00:08:24,319 --> 00:08:27,599
and this compared to your your standard

238
00:08:26,800 --> 00:08:29,280
like visa

239
00:08:27,599 --> 00:08:31,120
level transactions per second and then

240
00:08:29,280 --> 00:08:33,279
of course ethereum and bitcoin

241
00:08:31,120 --> 00:08:34,719
um it's exciting to see where we are

242
00:08:33,279 --> 00:08:39,200
kind of headed towards when we

243
00:08:34,719 --> 00:08:39,200
begin ramping up these two networks

244
00:08:39,680 --> 00:08:43,440
governance just quickly important to

245
00:08:42,000 --> 00:08:45,360
mention is that governance

246
00:08:43,440 --> 00:08:46,640
like i said is is allowing polka dot and

247
00:08:45,360 --> 00:08:49,519
kusama to

248
00:08:46,640 --> 00:08:51,519
manage this network at a entire

249
00:08:49,519 --> 00:08:53,440
community level versus being

250
00:08:51,519 --> 00:08:56,480
governed by an individual person or a

251
00:08:53,440 --> 00:08:56,480
small group of people

252
00:08:57,120 --> 00:09:00,399
and then a couple more so you'll hear

253
00:08:59,680 --> 00:09:03,120
the terms

254
00:09:00,399 --> 00:09:05,040
shared security sometimes plug and play

255
00:09:03,120 --> 00:09:07,920
security which i kind of prefer

256
00:09:05,040 --> 00:09:09,760
but what this really means is that polka

257
00:09:07,920 --> 00:09:11,920
dot and kusama are both extremely

258
00:09:09,760 --> 00:09:14,720
attractive for development teams like

259
00:09:11,920 --> 00:09:16,480
us at akala because it saves us the

260
00:09:14,720 --> 00:09:18,000
trouble of having to go out and recruit

261
00:09:16,480 --> 00:09:19,920
an entire set of

262
00:09:18,000 --> 00:09:22,320
network validators who actually help us

263
00:09:19,920 --> 00:09:24,080
run our network and secure our network

264
00:09:22,320 --> 00:09:26,160
so when you think about polka dot and

265
00:09:24,080 --> 00:09:28,080
kusama versus other alternatives this is

266
00:09:26,160 --> 00:09:29,760
one major reason why many teams are

267
00:09:28,080 --> 00:09:31,040
choosing to build in this ecosystem

268
00:09:29,760 --> 00:09:33,279
because it just takes

269
00:09:31,040 --> 00:09:35,120
a lot of the effort on the security side

270
00:09:33,279 --> 00:09:38,240
off of the team and allows us to focus

271
00:09:35,120 --> 00:09:38,240
on building our product

272
00:09:40,959 --> 00:09:46,399
so that's about it for polka dot um

273
00:09:44,320 --> 00:09:47,600
i'm just gonna that graphic that i just

274
00:09:46,399 --> 00:09:49,760
showed you here

275
00:09:47,600 --> 00:09:51,120
i'm gonna flip that now on its side and

276
00:09:49,760 --> 00:09:53,279
show you what's actually

277
00:09:51,120 --> 00:09:54,720
going on on top of of polka dot and

278
00:09:53,279 --> 00:09:57,680
kusama

279
00:09:54,720 --> 00:09:59,440
so you can see here this polka dot and

280
00:09:57,680 --> 00:10:00,399
kusama is kind of the base layer what

281
00:09:59,440 --> 00:10:03,279
we're calling a level

282
00:10:00,399 --> 00:10:03,600
a layer zero on top of that will be all

283
00:10:03,279 --> 00:10:05,279
these

284
00:10:03,600 --> 00:10:07,839
different para chains being built so

285
00:10:05,279 --> 00:10:10,399
akala you'll have plasm moon beam

286
00:10:07,839 --> 00:10:13,200
everyone else and then on top of each of

287
00:10:10,399 --> 00:10:16,480
these para chains will be applications

288
00:10:13,200 --> 00:10:18,240
users value liquidity and this will all

289
00:10:16,480 --> 00:10:19,440
be interoperable so you'll be able to

290
00:10:18,240 --> 00:10:22,399
send

291
00:10:19,440 --> 00:10:22,959
tokens and data and smart contract data

292
00:10:22,399 --> 00:10:24,399
between

293
00:10:22,959 --> 00:10:26,640
these different para chains in these

294
00:10:24,399 --> 00:10:28,399
different applications all in one kind

295
00:10:26,640 --> 00:10:32,160
of cohesive

296
00:10:28,399 --> 00:10:35,440
universe now

297
00:10:32,160 --> 00:10:37,040
last but definitely not least um one

298
00:10:35,440 --> 00:10:38,640
one network that i definitely love

299
00:10:37,040 --> 00:10:39,760
talking about is kusama i know many

300
00:10:38,640 --> 00:10:42,800
people on this

301
00:10:39,760 --> 00:10:44,880
on this call are kusama fans as well and

302
00:10:42,800 --> 00:10:46,079
the key differences between kusama and

303
00:10:44,880 --> 00:10:48,480
polka dot are are

304
00:10:46,079 --> 00:10:50,399
small but important the network is built

305
00:10:48,480 --> 00:10:52,320
the exact same way as polka dot but it's

306
00:10:50,399 --> 00:10:54,480
meant to be more of an experimental and

307
00:10:52,320 --> 00:10:55,680
fast moving environment for teams to be

308
00:10:54,480 --> 00:10:57,440
able to

309
00:10:55,680 --> 00:10:59,680
take what they've done on testnet and

310
00:10:57,440 --> 00:11:01,839
then move it on to kusama which has

311
00:10:59,680 --> 00:11:03,040
quite significant value now but gives

312
00:11:01,839 --> 00:11:05,120
them a place to

313
00:11:03,040 --> 00:11:06,320
experiment with new features but also

314
00:11:05,120 --> 00:11:08,560
run

315
00:11:06,320 --> 00:11:10,320
you know a full-on network for providing

316
00:11:08,560 --> 00:11:11,680
value in some way to the kusama

317
00:11:10,320 --> 00:11:14,000
community

318
00:11:11,680 --> 00:11:15,680
so this is what we've decided to do with

319
00:11:14,000 --> 00:11:18,480
kirura we're building kura

320
00:11:15,680 --> 00:11:20,079
for kind of satisfying the d5 demand of

321
00:11:18,480 --> 00:11:21,440
the kusama community

322
00:11:20,079 --> 00:11:25,440
and then at the same time we'll have a

323
00:11:21,440 --> 00:11:28,560
kala being built on polka dot

324
00:11:25,440 --> 00:11:31,120
so okay um

325
00:11:28,560 --> 00:11:32,720
let's let's now get into okay i've

326
00:11:31,120 --> 00:11:34,399
explained everything about polka dot

327
00:11:32,720 --> 00:11:35,519
i've explained kusama

328
00:11:34,399 --> 00:11:37,760
you've now hopefully got a good

329
00:11:35,519 --> 00:11:40,240
background on how all of this works

330
00:11:37,760 --> 00:11:42,000
but at this point if you see these this

331
00:11:40,240 --> 00:11:44,000
gray circle here this is the the

332
00:11:42,000 --> 00:11:46,320
relay chain of polka dot and the in the

333
00:11:44,000 --> 00:11:48,480
gray circle over here of kusama

334
00:11:46,320 --> 00:11:50,480
in reality if we were to show a diagram

335
00:11:48,480 --> 00:11:53,760
of what this network looks like today

336
00:11:50,480 --> 00:11:54,560
it's just a bare gray circle there's

337
00:11:53,760 --> 00:11:57,440
none of these pair

338
00:11:54,560 --> 00:11:58,720
chains around the edge right now so

339
00:11:57,440 --> 00:12:00,399
what's coming up right now with the

340
00:11:58,720 --> 00:12:01,519
crowd loan and the parachain auction

341
00:12:00,399 --> 00:12:04,240
process

342
00:12:01,519 --> 00:12:05,839
is multiple teams are going to be trying

343
00:12:04,240 --> 00:12:09,120
to get this very first

344
00:12:05,839 --> 00:12:10,639
slot on kusama's network kusama is

345
00:12:09,120 --> 00:12:12,399
launching first

346
00:12:10,639 --> 00:12:14,320
so teams can come in and learn how this

347
00:12:12,399 --> 00:12:16,639
process works and get launched there

348
00:12:14,320 --> 00:12:17,760
and then following kusama everyone will

349
00:12:16,639 --> 00:12:21,760
begin launching on

350
00:12:17,760 --> 00:12:25,279
pokedot so that leads me into

351
00:12:21,760 --> 00:12:28,240
crowd loans and parachain auctions and

352
00:12:25,279 --> 00:12:28,800
hopefully going to you know simplify

353
00:12:28,240 --> 00:12:30,320
this

354
00:12:28,800 --> 00:12:32,399
and answer some of the questions you

355
00:12:30,320 --> 00:12:33,519
might have in your head and then towards

356
00:12:32,399 --> 00:12:34,240
the end we're definitely going to save

357
00:12:33,519 --> 00:12:37,200
some time

358
00:12:34,240 --> 00:12:39,600
to answer your questions because we know

359
00:12:37,200 --> 00:12:41,440
this is a lot to comprehend it's all new

360
00:12:39,600 --> 00:12:43,040
it's new to us and i know it's new to

361
00:12:41,440 --> 00:12:44,720
you guys so um

362
00:12:43,040 --> 00:12:46,639
let's get into this and try to break it

363
00:12:44,720 --> 00:12:50,399
down at a more simple level

364
00:12:46,639 --> 00:12:52,880
and then see what questions you all have

365
00:12:50,399 --> 00:12:53,680
so the the main event of this whole

366
00:12:52,880 --> 00:12:56,399
process

367
00:12:53,680 --> 00:12:57,600
is this white um line here the parachain

368
00:12:56,399 --> 00:12:59,839
auction

369
00:12:57,600 --> 00:13:01,200
what this is is it's multiple pair chain

370
00:12:59,839 --> 00:13:03,360
teams that are

371
00:13:01,200 --> 00:13:05,120
bidding in an auction just like you

372
00:13:03,360 --> 00:13:06,240
might have seen on like a website like

373
00:13:05,120 --> 00:13:07,920
ebay or

374
00:13:06,240 --> 00:13:10,079
there's there's house auctions there's

375
00:13:07,920 --> 00:13:12,079
several different auctions historically

376
00:13:10,079 --> 00:13:14,000
but this is the main event that everyone

377
00:13:12,079 --> 00:13:15,839
is trying to essentially win so that

378
00:13:14,000 --> 00:13:17,279
their parrot chain can get a slot on

379
00:13:15,839 --> 00:13:20,480
kusama

380
00:13:17,279 --> 00:13:21,360
but in order to to um bid in that

381
00:13:20,480 --> 00:13:23,600
auction

382
00:13:21,360 --> 00:13:24,480
teams have two choices they can number

383
00:13:23,600 --> 00:13:26,240
one they can

384
00:13:24,480 --> 00:13:27,680
bid in the auction with just a single

385
00:13:26,240 --> 00:13:28,560
account maybe it's somebody that just

386
00:13:27,680 --> 00:13:30,399
holds

387
00:13:28,560 --> 00:13:32,000
a lot of ksm and they can just do that

388
00:13:30,399 --> 00:13:34,399
themselves or

389
00:13:32,000 --> 00:13:35,680
the second and more common option is a

390
00:13:34,399 --> 00:13:39,120
crowd loan

391
00:13:35,680 --> 00:13:42,880
so a crowd loan allows teams like

392
00:13:39,120 --> 00:13:45,120
kirura to crowdsource ksm

393
00:13:42,880 --> 00:13:46,720
from the community and the community is

394
00:13:45,120 --> 00:13:50,240
actually providing ksm

395
00:13:46,720 --> 00:13:52,079
to karua in order to bid as our opening

396
00:13:50,240 --> 00:13:54,079
bid in this auction

397
00:13:52,079 --> 00:13:55,519
so instead of using one account and

398
00:13:54,079 --> 00:13:57,199
bidding on our own we're actually

399
00:13:55,519 --> 00:13:58,639
involving the community

400
00:13:57,199 --> 00:14:00,320
and seeing this as an excellent

401
00:13:58,639 --> 00:14:02,639
opportunity to kind of distribute the

402
00:14:00,320 --> 00:14:04,720
token get the community involved

403
00:14:02,639 --> 00:14:07,600
and hopefully win the auction to launch

404
00:14:04,720 --> 00:14:10,560
as the first peritene on kusama

405
00:14:07,600 --> 00:14:12,480
so if we win that's the next step after

406
00:14:10,560 --> 00:14:15,600
the pair chain auction so

407
00:14:12,480 --> 00:14:16,079
win the slot and launch and then each

408
00:14:15,600 --> 00:14:18,320
team

409
00:14:16,079 --> 00:14:19,360
will be bidding for a specific duration

410
00:14:18,320 --> 00:14:22,240
of that slot

411
00:14:19,360 --> 00:14:23,680
so let's say for example that the the

412
00:14:22,240 --> 00:14:26,240
slot is one year

413
00:14:23,680 --> 00:14:27,680
for this for this example then at the

414
00:14:26,240 --> 00:14:29,519
end of this year

415
00:14:27,680 --> 00:14:31,279
all the contributors at the beginning of

416
00:14:29,519 --> 00:14:33,440
the process during the crowd loan

417
00:14:31,279 --> 00:14:36,720
actually receive all the ksm

418
00:14:33,440 --> 00:14:38,959
back and because of this is this is why

419
00:14:36,720 --> 00:14:40,880
we're so excited about this process and

420
00:14:38,959 --> 00:14:42,880
and really trying to get the message out

421
00:14:40,880 --> 00:14:46,240
to the whole industry that

422
00:14:42,880 --> 00:14:49,519
this is the new kind of more ethical and

423
00:14:46,240 --> 00:14:50,480
um it's just a new ethical model for

424
00:14:49,519 --> 00:14:52,399
bootstrapping

425
00:14:50,480 --> 00:14:54,000
new blockchain teams and new projects

426
00:14:52,399 --> 00:14:56,079
because you're essentially the reason

427
00:14:54,000 --> 00:14:57,600
why the developer is called a crowd loan

428
00:14:56,079 --> 00:15:00,560
is because you're essentially

429
00:14:57,600 --> 00:15:01,600
loaning ksm kind of watching the team

430
00:15:00,560 --> 00:15:03,440
progress through their

431
00:15:01,600 --> 00:15:04,639
through their one year slot in this case

432
00:15:03,440 --> 00:15:06,399
in this example

433
00:15:04,639 --> 00:15:08,320
but then you actually get your your kind

434
00:15:06,399 --> 00:15:10,240
of loaned ksm back

435
00:15:08,320 --> 00:15:11,920
so it's a really interesting model and

436
00:15:10,240 --> 00:15:14,160
definitely an improvement on what we're

437
00:15:11,920 --> 00:15:16,639
used to seeing with icos and i

438
00:15:14,160 --> 00:15:18,320
ido's and all this stuff that really

439
00:15:16,639 --> 00:15:19,279
doesn't hold the accountable the team

440
00:15:18,320 --> 00:15:21,920
accountable for

441
00:15:19,279 --> 00:15:22,480
delivering on anything but in our case

442
00:15:21,920 --> 00:15:24,240
since

443
00:15:22,480 --> 00:15:26,480
we aren't actually touching any of the

444
00:15:24,240 --> 00:15:27,680
ksm that is contributed it's all going

445
00:15:26,480 --> 00:15:30,480
into the auction and

446
00:15:27,680 --> 00:15:32,800
kind of locked in the kusama para chain

447
00:15:30,480 --> 00:15:34,959
or sorry in the kusama relay chain

448
00:15:32,800 --> 00:15:37,279
um we are really being held accountable

449
00:15:34,959 --> 00:15:38,800
to actually deliver value in

450
00:15:37,279 --> 00:15:42,959
you know return value to all the people

451
00:15:38,800 --> 00:15:42,959
who are supporting our our blockchain

452
00:15:43,120 --> 00:15:46,480
so this is just a little bit more

453
00:15:45,120 --> 00:15:48,079
detailed example

454
00:15:46,480 --> 00:15:49,440
um kind of a breakdown of the example

455
00:15:48,079 --> 00:15:51,040
that i just walked you through and i'll

456
00:15:49,440 --> 00:15:54,399
just take you through

457
00:15:51,040 --> 00:15:55,440
how this flow works so here in the

458
00:15:54,399 --> 00:15:58,720
beginning you have

459
00:15:55,440 --> 00:16:00,240
users it could be me you anyone on the

460
00:15:58,720 --> 00:16:01,600
call here anyone in the community

461
00:16:00,240 --> 00:16:04,959
contributing ksm

462
00:16:01,600 --> 00:16:06,480
to this crowd loan and

463
00:16:04,959 --> 00:16:09,839
during this crowd loan there will be

464
00:16:06,480 --> 00:16:12,639
multiple parachain teams putting in bids

465
00:16:09,839 --> 00:16:14,320
aiming to win this auction and then

466
00:16:12,639 --> 00:16:16,560
let's say for example the team is

467
00:16:14,320 --> 00:16:18,880
is crowned the winner and this is what

468
00:16:16,560 --> 00:16:20,480
happened next during the launch so

469
00:16:18,880 --> 00:16:22,800
as i mentioned this ksn that's

470
00:16:20,480 --> 00:16:24,800
contributed during the crowd loan

471
00:16:22,800 --> 00:16:26,240
is that is not touched by the team the

472
00:16:24,800 --> 00:16:29,360
only thing the team can do

473
00:16:26,240 --> 00:16:30,399
is basically push that in as their bid

474
00:16:29,360 --> 00:16:33,120
in the auction

475
00:16:30,399 --> 00:16:35,040
but then when they win anything that's

476
00:16:33,120 --> 00:16:37,519
contributed to that

477
00:16:35,040 --> 00:16:38,880
to that crowd loan is then locked in in

478
00:16:37,519 --> 00:16:40,880
the kusama

479
00:16:38,880 --> 00:16:42,320
in like the core of kusama the relay

480
00:16:40,880 --> 00:16:46,160
chain

481
00:16:42,320 --> 00:16:48,160
but at the same time um kar or any token

482
00:16:46,160 --> 00:16:50,240
of the parachain that you're supporting

483
00:16:48,160 --> 00:16:53,120
will then be distributed to you

484
00:16:50,240 --> 00:16:53,600
as a contributor as a user um and these

485
00:16:53,120 --> 00:16:55,199
are

486
00:16:53,600 --> 00:16:57,279
these are the same people back here so

487
00:16:55,199 --> 00:17:00,000
you contributed in the crowd loan

488
00:16:57,279 --> 00:17:01,519
your team one and then here there's a

489
00:17:00,000 --> 00:17:04,559
there's a distribution event

490
00:17:01,519 --> 00:17:07,199
of the kr token to those users

491
00:17:04,559 --> 00:17:09,280
and then at the same time um going back

492
00:17:07,199 --> 00:17:12,160
to the original diagram

493
00:17:09,280 --> 00:17:12,880
of the the whole kind of kusama relay

494
00:17:12,160 --> 00:17:14,959
chain

495
00:17:12,880 --> 00:17:16,000
this is where we would actually as kura

496
00:17:14,959 --> 00:17:18,400
go in and

497
00:17:16,000 --> 00:17:19,199
earn that slot and then all of our d5

498
00:17:18,400 --> 00:17:21,120
applications

499
00:17:19,199 --> 00:17:22,640
our platform is ready teams can begin

500
00:17:21,120 --> 00:17:24,559
building on carrura or

501
00:17:22,640 --> 00:17:26,720
users can begin coming in and using all

502
00:17:24,559 --> 00:17:29,919
the products that we've built

503
00:17:26,720 --> 00:17:30,799
and then finally at the end of this slot

504
00:17:29,919 --> 00:17:33,440
that we get

505
00:17:30,799 --> 00:17:35,120
in this example one year all the ksm is

506
00:17:33,440 --> 00:17:37,200
returned to supporters

507
00:17:35,120 --> 00:17:40,640
um so again it's that's kind of what

508
00:17:37,200 --> 00:17:40,640
gives the name crowd loan

509
00:17:40,799 --> 00:17:43,760
i've already covered this but i guess

510
00:17:42,480 --> 00:17:44,559
i'll just leave it up for a second in

511
00:17:43,760 --> 00:17:46,240
case

512
00:17:44,559 --> 00:17:49,760
people want to pause this video when

513
00:17:46,240 --> 00:17:54,640
they go back in and review this

514
00:17:49,760 --> 00:17:56,640
um let's see i've also covered

515
00:17:54,640 --> 00:17:58,000
all of this there's some detail that

516
00:17:56,640 --> 00:17:59,360
that we can just go back and you guys

517
00:17:58,000 --> 00:18:02,880
can read if you would like

518
00:17:59,360 --> 00:18:03,280
in the recording um this is just a

519
00:18:02,880 --> 00:18:05,520
little

520
00:18:03,280 --> 00:18:08,000
little bit deeper of an a deeper dive on

521
00:18:05,520 --> 00:18:10,400
this first crowd loan part

522
00:18:08,000 --> 00:18:12,000
so just to show you that there's going

523
00:18:10,400 --> 00:18:14,480
to be multiple parachain teams doing

524
00:18:12,000 --> 00:18:18,000
these crowd loans all at once

525
00:18:14,480 --> 00:18:20,720
and then when these parachain teams

526
00:18:18,000 --> 00:18:22,400
basically crowd source all of that ksm

527
00:18:20,720 --> 00:18:23,600
it's i kind of like to compare it to

528
00:18:22,400 --> 00:18:26,240
like having a stack of

529
00:18:23,600 --> 00:18:27,280
chips because what happens is pair chain

530
00:18:26,240 --> 00:18:30,480
b

531
00:18:27,280 --> 00:18:31,520
crowdsourced 45k parachain c crowdsource

532
00:18:30,480 --> 00:18:35,120
40k

533
00:18:31,520 --> 00:18:37,440
and then parachain a for example 55k

534
00:18:35,120 --> 00:18:39,280
but what they do is essentially when the

535
00:18:37,440 --> 00:18:40,799
pair chain auction starts

536
00:18:39,280 --> 00:18:42,559
it's like being at a poker table and

537
00:18:40,799 --> 00:18:43,679
pushing all of your chips in at once

538
00:18:42,559 --> 00:18:45,120
because

539
00:18:43,679 --> 00:18:48,000
what i'll show you on the next slide is

540
00:18:45,120 --> 00:18:49,360
the auction is kind of is kind of um

541
00:18:48,000 --> 00:18:51,200
you know structured in a way that

542
00:18:49,360 --> 00:18:53,039
incentivizes teams to bid as

543
00:18:51,200 --> 00:18:54,480
as high as they can as quickly as

544
00:18:53,039 --> 00:18:57,600
possible

545
00:18:54,480 --> 00:18:59,440
and and here's why so

546
00:18:57,600 --> 00:19:00,960
when the auction starts and i know this

547
00:18:59,440 --> 00:19:02,480
is a lot of detail so

548
00:19:00,960 --> 00:19:04,000
i'm just trying to break it down for

549
00:19:02,480 --> 00:19:04,880
everybody because this is really what's

550
00:19:04,000 --> 00:19:06,480
about to

551
00:19:04,880 --> 00:19:08,240
start happening soon so it's great for

552
00:19:06,480 --> 00:19:09,760
everyone to be kind of aware of the

553
00:19:08,240 --> 00:19:13,440
details

554
00:19:09,760 --> 00:19:13,919
so here when when the paratrain auction

555
00:19:13,440 --> 00:19:15,840
starts

556
00:19:13,919 --> 00:19:17,600
everybody in the community will know the

557
00:19:15,840 --> 00:19:20,000
open time and we will know the end

558
00:19:17,600 --> 00:19:20,880
the close time so let's just say for

559
00:19:20,000 --> 00:19:25,440
example this is

560
00:19:20,880 --> 00:19:27,120
seven days um teams will then begin

561
00:19:25,440 --> 00:19:28,960
like pushing in their chips pushing in

562
00:19:27,120 --> 00:19:32,160
their crowd loan um

563
00:19:28,960 --> 00:19:34,799
for their bids but what happens is

564
00:19:32,160 --> 00:19:35,520
throughout this this um this auction

565
00:19:34,799 --> 00:19:36,960
period

566
00:19:35,520 --> 00:19:38,720
teams will be bidding and bidding and

567
00:19:36,960 --> 00:19:41,200
out bidding all the stuff will be done

568
00:19:38,720 --> 00:19:42,880
on chain we will all be able to kind of

569
00:19:41,200 --> 00:19:44,480
watch this like a spectacle or a

570
00:19:42,880 --> 00:19:46,400
sporting event

571
00:19:44,480 --> 00:19:48,720
but what we don't know in the most

572
00:19:46,400 --> 00:19:52,160
exciting moment will be

573
00:19:48,720 --> 00:19:54,160
when this close time happens the system

574
00:19:52,160 --> 00:19:55,840
automatic or the system randomly

575
00:19:54,160 --> 00:19:56,799
generates this what's called a random

576
00:19:55,840 --> 00:19:59,440
beacon

577
00:19:56,799 --> 00:20:01,679
but it generates a randomized time that

578
00:19:59,440 --> 00:20:04,159
selects the winner

579
00:20:01,679 --> 00:20:05,760
so it's not like an ebay auction where

580
00:20:04,159 --> 00:20:07,520
everybody's going to shoot their bids in

581
00:20:05,760 --> 00:20:10,240
at the end to try to like snipe

582
00:20:07,520 --> 00:20:12,159
to win everyone is actually incentivized

583
00:20:10,240 --> 00:20:13,679
to bid as high as they can as early as

584
00:20:12,159 --> 00:20:14,960
possible because we actually don't know

585
00:20:13,679 --> 00:20:16,159
when the winner is going to be

586
00:20:14,960 --> 00:20:18,480
determined

587
00:20:16,159 --> 00:20:19,520
so when this randomly selected time is

588
00:20:18,480 --> 00:20:21,360
chosen

589
00:20:19,520 --> 00:20:22,960
then whoever had the highest bid at that

590
00:20:21,360 --> 00:20:26,559
time in this example

591
00:20:22,960 --> 00:20:28,080
parachain a with 55k will be the winner

592
00:20:26,559 --> 00:20:29,840
and then they would move on

593
00:20:28,080 --> 00:20:32,840
and back in that chart that i showed you

594
00:20:29,840 --> 00:20:35,679
they'll move on to the whole launch

595
00:20:32,840 --> 00:20:37,919
process so this is just a recap

596
00:20:35,679 --> 00:20:40,240
of everything that i just showed you um

597
00:20:37,919 --> 00:20:43,280
the whole process from crowd loan

598
00:20:40,240 --> 00:20:45,120
to parachain auction to launch and

599
00:20:43,280 --> 00:20:48,240
earning that slot on the network

600
00:20:45,120 --> 00:20:50,799
and then what will happen is um

601
00:20:48,240 --> 00:20:52,240
this will actually be taking place quite

602
00:20:50,799 --> 00:20:54,320
frequently so

603
00:20:52,240 --> 00:20:55,840
polka dot polka dot announced and we're

604
00:20:54,320 --> 00:20:57,760
not sure exactly if it'll be the same

605
00:20:55,840 --> 00:20:59,360
for kusama but polkadot's plan is to do

606
00:20:57,760 --> 00:21:01,919
it every two weeks

607
00:20:59,360 --> 00:21:03,440
so you'll have an auction two weeks two

608
00:21:01,919 --> 00:21:05,679
weeks two weeks

609
00:21:03,440 --> 00:21:07,520
until we scale up to around 100 or more

610
00:21:05,679 --> 00:21:09,200
pair chains so

611
00:21:07,520 --> 00:21:10,720
the reason why this is exciting is we're

612
00:21:09,200 --> 00:21:12,880
actually kind of

613
00:21:10,720 --> 00:21:14,400
approaching this period of time where

614
00:21:12,880 --> 00:21:15,840
these kusama and then polka dot

615
00:21:14,400 --> 00:21:18,640
paratrain auctions are going to be

616
00:21:15,840 --> 00:21:20,799
ongoing every two weeks for the next you

617
00:21:18,640 --> 00:21:22,480
know five plus years depending on

618
00:21:20,799 --> 00:21:24,320
if governance changes the way all this

619
00:21:22,480 --> 00:21:25,919
works or anything like that but

620
00:21:24,320 --> 00:21:29,280
it's going to be fun and it's going to

621
00:21:25,919 --> 00:21:29,280
be pretty pretty crazy

622
00:21:29,360 --> 00:21:33,360
one last thing before i move on to betty

623
00:21:32,000 --> 00:21:35,120
um

624
00:21:33,360 --> 00:21:37,919
a lot of people ask so what happens at

625
00:21:35,120 --> 00:21:41,039
the end of this parachain slot

626
00:21:37,919 --> 00:21:41,520
so like i mentioned the ksm is returned

627
00:21:41,039 --> 00:21:44,159
to

628
00:21:41,520 --> 00:21:46,080
the automatically from the the kusama

629
00:21:44,159 --> 00:21:48,159
relay chain itself to the contributors

630
00:21:46,080 --> 00:21:50,240
who supported the crowd loan

631
00:21:48,159 --> 00:21:52,480
but there's actually a few options for

632
00:21:50,240 --> 00:21:56,000
those teams when their slot ends

633
00:21:52,480 --> 00:21:57,039
so number one a team can actually host

634
00:21:56,000 --> 00:21:58,799
another crowd loan

635
00:21:57,039 --> 00:22:00,080
and do this process again win the

636
00:21:58,799 --> 00:22:02,320
auction

637
00:22:00,080 --> 00:22:03,760
and what have you so you've i've already

638
00:22:02,320 --> 00:22:06,159
been through that

639
00:22:03,760 --> 00:22:06,880
number two which is um pretty

640
00:22:06,159 --> 00:22:08,720
interesting and

641
00:22:06,880 --> 00:22:10,640
in a unique kind of aspect of the way

642
00:22:08,720 --> 00:22:12,960
akala and koro will work

643
00:22:10,640 --> 00:22:14,960
is we are actually going to have our own

644
00:22:12,960 --> 00:22:15,760
um what we're calling network controlled

645
00:22:14,960 --> 00:22:18,000
value

646
00:22:15,760 --> 00:22:19,520
and within within that the the akala

647
00:22:18,000 --> 00:22:21,440
treasury

648
00:22:19,520 --> 00:22:23,840
and the akala decentralized sovereign

649
00:22:21,440 --> 00:22:24,640
wealth fund those also both apply to

650
00:22:23,840 --> 00:22:26,880
karua so

651
00:22:24,640 --> 00:22:27,760
in carrera's case if we have a one-year

652
00:22:26,880 --> 00:22:30,240
slot

653
00:22:27,760 --> 00:22:31,520
where our network and our d5 protocols

654
00:22:30,240 --> 00:22:34,240
are actually going to be building up

655
00:22:31,520 --> 00:22:36,640
our own treasury to the point where we

656
00:22:34,240 --> 00:22:38,240
hope to be able to self-fund

657
00:22:36,640 --> 00:22:40,400
these auctions in the future instead of

658
00:22:38,240 --> 00:22:42,080
having to rely on doing this whole crowd

659
00:22:40,400 --> 00:22:45,280
loan and paratrain auction process

660
00:22:42,080 --> 00:22:47,360
again and then third is kind of a

661
00:22:45,280 --> 00:22:48,720
fallback for for some teams some teams

662
00:22:47,360 --> 00:22:52,159
may actually decide that they

663
00:22:48,720 --> 00:22:54,320
they only need um they don't need

664
00:22:52,159 --> 00:22:56,080
constant access to the to the blockchain

665
00:22:54,320 --> 00:22:58,080
itself maybe it's like a

666
00:22:56,080 --> 00:22:59,760
a weather application or a weather

667
00:22:58,080 --> 00:23:01,039
apparel chain where

668
00:22:59,760 --> 00:23:02,960
they don't need to be contributing

669
00:23:01,039 --> 00:23:03,679
weather data to the blockchain every

670
00:23:02,960 --> 00:23:06,320
second

671
00:23:03,679 --> 00:23:08,559
maybe every day is fine just to show

672
00:23:06,320 --> 00:23:11,360
that there's not a hurricane for example

673
00:23:08,559 --> 00:23:13,520
um the other the other way around is if

674
00:23:11,360 --> 00:23:14,640
you're like a d5 chain like us or you're

675
00:23:13,520 --> 00:23:16,559
a team that does need

676
00:23:14,640 --> 00:23:18,559
constant access to the to the relay

677
00:23:16,559 --> 00:23:20,640
chain um you're most likely

678
00:23:18,559 --> 00:23:22,159
you would most likely use a para thread

679
00:23:20,640 --> 00:23:24,400
as a temporary option

680
00:23:22,159 --> 00:23:25,600
before moving back to the to the para

681
00:23:24,400 --> 00:23:29,200
chain

682
00:23:25,600 --> 00:23:31,760
setup so cool

683
00:23:29,200 --> 00:23:32,480
hopefully you guys write down your

684
00:23:31,760 --> 00:23:35,919
questions

685
00:23:32,480 --> 00:23:37,520
i'm going to move on to to betty now to

686
00:23:35,919 --> 00:23:39,280
get into a little bit about akala and

687
00:23:37,520 --> 00:23:42,320
karua and i know there's going to be

688
00:23:39,280 --> 00:23:43,679
wow there's 51 questions um so we'll

689
00:23:42,320 --> 00:23:46,080
come back to questions

690
00:23:43,679 --> 00:23:47,440
um after after betty gets into this a

691
00:23:46,080 --> 00:23:50,880
little bit

692
00:23:47,440 --> 00:23:53,520
and then um we'll wrap up so

693
00:23:50,880 --> 00:23:55,039
thank you guys betty do you want me to

694
00:23:53,520 --> 00:23:58,240
just keep

695
00:23:55,039 --> 00:23:58,240
i slides up for now

696
00:23:59,440 --> 00:24:05,520
or do you want to take over

697
00:24:03,039 --> 00:24:08,080
uh yeah uh please let me talk take over

698
00:24:05,520 --> 00:24:08,080
okay thanks

699
00:24:14,400 --> 00:24:19,840
how do i stop sharing there we go okay

700
00:24:19,919 --> 00:24:22,559
okay cool

701
00:24:24,080 --> 00:24:28,640
all right um i'll share my screen

702
00:24:30,960 --> 00:24:34,720
all right i can move you up so i can

703
00:24:32,880 --> 00:24:38,159
still see everyone

704
00:24:34,720 --> 00:24:42,400
okay uh so everyone can

705
00:24:38,159 --> 00:24:42,400
uh see my screen now

706
00:24:42,559 --> 00:24:44,799
okay

707
00:24:59,440 --> 00:25:01,840
there we go

708
00:25:04,799 --> 00:25:10,640
okay uh so yeah so i will

709
00:25:07,919 --> 00:25:13,840
go into a little bit uh more on akala

710
00:25:10,640 --> 00:25:16,640
and probably more specifically on

711
00:25:13,840 --> 00:25:16,960
and then i will actually go into a bit

712
00:25:16,640 --> 00:25:20,240
more

713
00:25:16,960 --> 00:25:22,159
what the kura sort of product and also

714
00:25:20,240 --> 00:25:23,919
the token economics and then maybe more

715
00:25:22,159 --> 00:25:25,600
specifically the crowd long i see some

716
00:25:23,919 --> 00:25:28,880
very good questions

717
00:25:25,600 --> 00:25:30,960
being asked there so i won't actually go

718
00:25:28,880 --> 00:25:32,159
into too much of the product demo today

719
00:25:30,960 --> 00:25:34,159
because i think next week

720
00:25:32,159 --> 00:25:36,000
there will be another session um i think

721
00:25:34,159 --> 00:25:39,039
retail is going to walk you guys through

722
00:25:36,000 --> 00:25:41,360
the airplane etc but i just want to show

723
00:25:39,039 --> 00:25:42,799
you guys that when you're looking at

724
00:25:41,360 --> 00:25:44,799
projects it's important to

725
00:25:42,799 --> 00:25:45,919
uh i guess if you are here getting very

726
00:25:44,799 --> 00:25:48,400
excited about

727
00:25:45,919 --> 00:25:49,520
color about polka dot um and you haven't

728
00:25:48,400 --> 00:25:51,200
used the app yet

729
00:25:49,520 --> 00:25:53,200
uh then there's another chat box to

730
00:25:51,200 --> 00:25:53,760
check off to see you know how good the

731
00:25:53,200 --> 00:25:56,159
app are

732
00:25:53,760 --> 00:25:57,279
is it useful to you or is it useful to

733
00:25:56,159 --> 00:26:00,559
you know folks that

734
00:25:57,279 --> 00:26:02,640
uh that in your circle etc so

735
00:26:00,559 --> 00:26:04,480
uh basically you know like akala we are

736
00:26:02,640 --> 00:26:05,120
building a defy suite so you can think

737
00:26:04,480 --> 00:26:08,559
about us

738
00:26:05,120 --> 00:26:10,000
as a uh decentralized bank uh that you

739
00:26:08,559 --> 00:26:11,679
can walk into

740
00:26:10,000 --> 00:26:13,360
instead of using your house as

741
00:26:11,679 --> 00:26:16,000
collateral to

742
00:26:13,360 --> 00:26:17,840
borrow uh revolving credit uh maybe to

743
00:26:16,000 --> 00:26:18,320
renovate your house or do some other

744
00:26:17,840 --> 00:26:20,559
work

745
00:26:18,320 --> 00:26:21,520
uh on your property you can use your

746
00:26:20,559 --> 00:26:24,559
crypto assets

747
00:26:21,520 --> 00:26:25,679
as collateral to borrow stable coins or

748
00:26:24,559 --> 00:26:27,520
us dollars

749
00:26:25,679 --> 00:26:29,440
and then use it for trading uh or

750
00:26:27,520 --> 00:26:29,919
perhaps you know getting more bitcoin or

751
00:26:29,440 --> 00:26:33,440
dots

752
00:26:29,919 --> 00:26:36,240
um for whatever reason there is right um

753
00:26:33,440 --> 00:26:39,120
and so this this is the full uh device

754
00:26:36,240 --> 00:26:42,000
we that will build up for a color

755
00:26:39,120 --> 00:26:43,840
and then i saw some of the questions are

756
00:26:42,000 --> 00:26:45,840
asked around all the tokens

757
00:26:43,840 --> 00:26:47,760
that are available within the d5 suites

758
00:26:45,840 --> 00:26:48,799
i'll just go into a little bit more

759
00:26:47,760 --> 00:26:51,640
detail on that

760
00:26:48,799 --> 00:26:53,520
so the first product that we have is the

761
00:26:51,640 --> 00:26:55,919
multicollateralized stablecoin

762
00:26:53,520 --> 00:26:56,799
so that's the akala dollar so everything

763
00:26:55,919 --> 00:26:59,279
i say here

764
00:26:56,799 --> 00:27:01,200
referring to akala if you are thinking

765
00:26:59,279 --> 00:27:01,600
about kurura if that's more of your

766
00:27:01,200 --> 00:27:04,240
thing

767
00:27:01,600 --> 00:27:06,960
then you just switch akala to karura and

768
00:27:04,240 --> 00:27:07,840
then ausd is basically corrupt u.s

769
00:27:06,960 --> 00:27:09,919
dollars that's

770
00:27:07,840 --> 00:27:10,960
you know available within the kusama

771
00:27:09,919 --> 00:27:12,400
ecosystem

772
00:27:10,960 --> 00:27:14,480
and then this multi-collateralized

773
00:27:12,400 --> 00:27:15,760
stable coin uh it's basically a scenario

774
00:27:14,480 --> 00:27:16,480
i was talking about you can use your

775
00:27:15,760 --> 00:27:19,679
bitcoin

776
00:27:16,480 --> 00:27:21,679
uh use your dot um e's asset as well i

777
00:27:19,679 --> 00:27:23,760
saw someone asking a question about

778
00:27:21,679 --> 00:27:24,960
ethereum bridge uh that's actually being

779
00:27:23,760 --> 00:27:28,000
built we actually

780
00:27:24,960 --> 00:27:28,640
launched a test net on colvin and our

781
00:27:28,000 --> 00:27:30,880
mandala

782
00:27:28,640 --> 00:27:32,399
we haven't announced it yet for

783
00:27:30,880 --> 00:27:32,720
everything we do we try to make sure

784
00:27:32,399 --> 00:27:35,760
that

785
00:27:32,720 --> 00:27:38,240
everything works before we uh you know

786
00:27:35,760 --> 00:27:39,440
tell people and as soon as you know we

787
00:27:38,240 --> 00:27:41,600
are happy with it

788
00:27:39,440 --> 00:27:44,080
we will let you guys to try to actually

789
00:27:41,600 --> 00:27:44,640
you know bring your ethan erc20 tokens

790
00:27:44,080 --> 00:27:47,520
to

791
00:27:44,640 --> 00:27:48,799
a color and then uh yeah see how it

792
00:27:47,520 --> 00:27:51,360
feels like

793
00:27:48,799 --> 00:27:52,159
and then the uh sort of uh uh the second

794
00:27:51,360 --> 00:27:54,080
product we have

795
00:27:52,159 --> 00:27:56,480
is a decentralized exchange so it's an

796
00:27:54,080 --> 00:27:58,640
amm automatic market maker

797
00:27:56,480 --> 00:28:00,880
so it's a bit like unit swap in terms of

798
00:27:58,640 --> 00:28:01,679
the mechanism but obviously it's built

799
00:28:00,880 --> 00:28:05,440
at a

800
00:28:01,679 --> 00:28:06,320
lower level so that it can be used as a

801
00:28:05,440 --> 00:28:09,600
unified

802
00:28:06,320 --> 00:28:12,080
uh uh source of liquidity for the entire

803
00:28:09,600 --> 00:28:13,600
akala network so for example um you know

804
00:28:12,080 --> 00:28:15,279
we often say

805
00:28:13,600 --> 00:28:17,840
on a color you can bring your own guests

806
00:28:15,279 --> 00:28:20,559
right so this is a term invented by dan

807
00:28:17,840 --> 00:28:23,200
basically you can pay your guest fee

808
00:28:20,559 --> 00:28:23,760
using any tokens you want for example we

809
00:28:23,200 --> 00:28:25,360
are

810
00:28:23,760 --> 00:28:27,200
collaborating with ample phones and you

811
00:28:25,360 --> 00:28:30,159
can pay a fee

812
00:28:27,200 --> 00:28:31,360
in ampl or i saw someone mention uh

813
00:28:30,159 --> 00:28:33,279
bitcoin maxis

814
00:28:31,360 --> 00:28:34,799
well you don't need uh to swap your

815
00:28:33,279 --> 00:28:35,520
bitcoin to anything else you can pay

816
00:28:34,799 --> 00:28:37,919
guest fees

817
00:28:35,520 --> 00:28:40,080
uh in bitcoin as well if you want um or

818
00:28:37,919 --> 00:28:40,960
in any other stable coin so this is all

819
00:28:40,080 --> 00:28:44,240
made possible

820
00:28:40,960 --> 00:28:45,600
because we have this decks built into uh

821
00:28:44,240 --> 00:28:48,080
you know our core

822
00:28:45,600 --> 00:28:49,279
level of the blockchain and then the

823
00:28:48,080 --> 00:28:52,559
third product we have

824
00:28:49,279 --> 00:28:53,279
uh is the liquid dot so basically this

825
00:28:52,559 --> 00:28:56,960
is like

826
00:28:53,279 --> 00:28:58,960
uh today if you stake your dog

827
00:28:56,960 --> 00:29:00,640
you kind of lose liquidity of that dock

828
00:28:58,960 --> 00:29:02,240
right you kind of lock your dot there

829
00:29:00,640 --> 00:29:03,520
for as long as you're staking and

830
00:29:02,240 --> 00:29:06,000
earning the reward

831
00:29:03,520 --> 00:29:07,840
um and uh we basically create a

832
00:29:06,000 --> 00:29:09,679
tokenized version of it

833
00:29:07,840 --> 00:29:10,960
so it's a little bit like you put your

834
00:29:09,679 --> 00:29:13,840
dye into compound

835
00:29:10,960 --> 00:29:14,399
and you get c die out which is interest

836
00:29:13,840 --> 00:29:16,720
uh

837
00:29:14,399 --> 00:29:18,159
earning but you can still use the c dies

838
00:29:16,720 --> 00:29:20,399
like erc 20

839
00:29:18,159 --> 00:29:21,679
to trade uh to use as collateral so

840
00:29:20,399 --> 00:29:23,760
similar concept

841
00:29:21,679 --> 00:29:25,200
of course the mechanism is way different

842
00:29:23,760 --> 00:29:27,279
so in here

843
00:29:25,200 --> 00:29:28,720
you stake your dog through akala

844
00:29:27,279 --> 00:29:30,080
trustlessly

845
00:29:28,720 --> 00:29:31,840
and then you will get a tokenized

846
00:29:30,080 --> 00:29:32,880
version of it called ldap so that's the

847
00:29:31,840 --> 00:29:36,159
token there

848
00:29:32,880 --> 00:29:38,559
of course on kusama it will be lksm

849
00:29:36,159 --> 00:29:41,039
and then with that you obviously if you

850
00:29:38,559 --> 00:29:43,440
hold it you earned staking use

851
00:29:41,039 --> 00:29:45,200
but if you use it for collateral then

852
00:29:43,440 --> 00:29:47,360
you are earning staking you but at the

853
00:29:45,200 --> 00:29:48,960
same time you also you can borrow

854
00:29:47,360 --> 00:29:51,600
and then maybe double long your dot or

855
00:29:48,960 --> 00:29:53,039
ksm whichever you like

856
00:29:51,600 --> 00:29:54,399
and i won't go into detail without

857
00:29:53,039 --> 00:29:55,919
wealth fund i think it was another

858
00:29:54,399 --> 00:29:57,039
session to talk about our network

859
00:29:55,919 --> 00:29:59,840
control value

860
00:29:57,039 --> 00:30:01,279
um i do think that's a new mode uh that

861
00:29:59,840 --> 00:30:02,799
people will start realizing

862
00:30:01,279 --> 00:30:05,440
we're probably first to come up with

863
00:30:02,799 --> 00:30:07,039
this idea maybe a year or so ago when we

864
00:30:05,440 --> 00:30:09,760
first started akala

865
00:30:07,039 --> 00:30:11,360
but we will soon uh make this actually

866
00:30:09,760 --> 00:30:13,360
work in real life and

867
00:30:11,360 --> 00:30:14,640
um i think everyone you know in the

868
00:30:13,360 --> 00:30:16,799
community or

869
00:30:14,640 --> 00:30:17,679
will be holding aca will be really happy

870
00:30:16,799 --> 00:30:19,039
about how this

871
00:30:17,679 --> 00:30:21,120
will be going so i'll just leave that

872
00:30:19,039 --> 00:30:24,559
there um

873
00:30:21,120 --> 00:30:27,279
and uh yeah so and then for everything

874
00:30:24,559 --> 00:30:28,080
that we've done here in uh akala uh

875
00:30:27,279 --> 00:30:31,200
there will be

876
00:30:28,080 --> 00:30:32,159
a suite uh being built on the kusama as

877
00:30:31,200 --> 00:30:35,440
the kusama

878
00:30:32,159 --> 00:30:37,520
uh defy hub and of course uh

879
00:30:35,440 --> 00:30:38,480
you now see you know kusama kind of

880
00:30:37,520 --> 00:30:40,880
evolved into

881
00:30:38,480 --> 00:30:41,600
quite a different uh character uh as

882
00:30:40,880 --> 00:30:43,760
well as

883
00:30:41,600 --> 00:30:44,640
a different personality or ecosystem and

884
00:30:43,760 --> 00:30:47,520
community

885
00:30:44,640 --> 00:30:48,720
versus polka dot um i can't imagine

886
00:30:47,520 --> 00:30:51,679
karura will be

887
00:30:48,720 --> 00:30:53,120
similar because a lot of the parameters

888
00:30:51,679 --> 00:30:56,080
on the carrura

889
00:30:53,120 --> 00:30:59,039
d phi hub will be very different and

890
00:30:56,080 --> 00:31:01,919
higher risk tolerance than akala

891
00:30:59,039 --> 00:31:02,480
and for example the collaterals that we

892
00:31:01,919 --> 00:31:05,279
accept

893
00:31:02,480 --> 00:31:06,480
may be very much tuned to kusama you

894
00:31:05,279 --> 00:31:09,200
know kusama is

895
00:31:06,480 --> 00:31:10,799
uh there's kusama society uh there's

896
00:31:09,200 --> 00:31:13,440
arts creative community

897
00:31:10,799 --> 00:31:15,440
there's nfts right so potentially we

898
00:31:13,440 --> 00:31:16,080
could actually tokenize those nfts and

899
00:31:15,440 --> 00:31:19,200
use those

900
00:31:16,080 --> 00:31:20,000
as collaterals to borrow increase in

901
00:31:19,200 --> 00:31:21,600
karura

902
00:31:20,000 --> 00:31:23,840
but we'll probably never be able to do

903
00:31:21,600 --> 00:31:25,600
that on akala right so that will be

904
00:31:23,840 --> 00:31:28,000
some of the product differentiation of

905
00:31:25,600 --> 00:31:30,960
course hopefully that also inspire

906
00:31:28,000 --> 00:31:33,440
uh some innovators there to create

907
00:31:30,960 --> 00:31:36,399
different financial products on

908
00:31:33,440 --> 00:31:37,039
kurura so yeah so this is what will be

909
00:31:36,399 --> 00:31:40,399
launched

910
00:31:37,039 --> 00:31:42,240
very soon and

911
00:31:40,399 --> 00:31:44,000
and as soon as you know kusama has the

912
00:31:42,240 --> 00:31:46,159
power chain available

913
00:31:44,000 --> 00:31:47,279
then kara will be first to jump on the

914
00:31:46,159 --> 00:31:49,200
auction um

915
00:31:47,279 --> 00:31:50,960
and then try to launch the product and

916
00:31:49,200 --> 00:31:53,200
as soon as the network launches

917
00:31:50,960 --> 00:31:54,320
uh you will be able to start using some

918
00:31:53,200 --> 00:31:58,320
of these products

919
00:31:54,320 --> 00:31:58,320
make your ksm work basically

920
00:31:58,559 --> 00:32:02,880
for for those of you you know probably

921
00:32:00,399 --> 00:32:06,159
fairly new i really encourage you to

922
00:32:02,880 --> 00:32:08,320
you know get on to uh uh the the app

923
00:32:06,159 --> 00:32:10,159
this is a kind of like a new uh dark

924
00:32:08,320 --> 00:32:12,559
mode app for people to try out

925
00:32:10,159 --> 00:32:13,679
so i do encourage to try that out and

926
00:32:12,559 --> 00:32:16,240
see

927
00:32:13,679 --> 00:32:16,799
what you like and what you don't like

928
00:32:16,240 --> 00:32:18,640
and

929
00:32:16,799 --> 00:32:20,000
so i won't actually go into too much

930
00:32:18,640 --> 00:32:23,360
detail on it today

931
00:32:20,000 --> 00:32:26,799
uh just yeah uh cautious of time

932
00:32:23,360 --> 00:32:27,279
um and the next thing um i kind of want

933
00:32:26,799 --> 00:32:30,880
to

934
00:32:27,279 --> 00:32:34,320
uh talk about is uh a little bit

935
00:32:30,880 --> 00:32:36,960
around um uh the platform itself

936
00:32:34,320 --> 00:32:38,720
um i think this uh i won't talk too much

937
00:32:36,960 --> 00:32:39,440
because then kind of alluded to this

938
00:32:38,720 --> 00:32:42,480
already

939
00:32:39,440 --> 00:32:45,039
is like comparisons of evolution of

940
00:32:42,480 --> 00:32:46,320
the blockchains right so everyone's here

941
00:32:45,039 --> 00:32:48,880
as familiar with bitcoin

942
00:32:46,320 --> 00:32:50,559
but from an engineering perspective it

943
00:32:48,880 --> 00:32:51,840
is just a ledger right it does what it

944
00:32:50,559 --> 00:32:54,880
does really well

945
00:32:51,840 --> 00:32:55,440
um as for ethereum the real evolution

946
00:32:54,880 --> 00:32:57,840
there

947
00:32:55,440 --> 00:32:58,799
is it has a ledger and it also added

948
00:32:57,840 --> 00:33:01,519
this evm

949
00:32:58,799 --> 00:33:02,640
right that that's the innovation because

950
00:33:01,519 --> 00:33:04,720
within the evm

951
00:33:02,640 --> 00:33:07,120
then you can program some applications

952
00:33:04,720 --> 00:33:10,559
on top of it

953
00:33:07,120 --> 00:33:13,200
and then use those two as the baseline

954
00:33:10,559 --> 00:33:14,960
this is what akala offers or what the

955
00:33:13,200 --> 00:33:18,320
substrate kobe is offers and

956
00:33:14,960 --> 00:33:20,640
how akada takes it to a product level

957
00:33:18,320 --> 00:33:22,000
we still have ledger but it's all

958
00:33:20,640 --> 00:33:24,799
customizable and

959
00:33:22,000 --> 00:33:25,360
we are powered by polka dot security

960
00:33:24,799 --> 00:33:28,320
right

961
00:33:25,360 --> 00:33:29,279
so this means uh quite specifically on

962
00:33:28,320 --> 00:33:31,279
day one is

963
00:33:29,279 --> 00:33:32,320
if you are using any of the financial

964
00:33:31,279 --> 00:33:36,320
products on

965
00:33:32,320 --> 00:33:36,880
uh on on akala you are enjoying polka

966
00:33:36,320 --> 00:33:40,000
dots

967
00:33:36,880 --> 00:33:43,279
uh network security so that is

968
00:33:40,000 --> 00:33:46,320
uh lost track maybe 35 billion right now

969
00:33:43,279 --> 00:33:48,080
or something like that and

970
00:33:46,320 --> 00:33:50,080
so that's probably peace of mind for

971
00:33:48,080 --> 00:33:51,120
those of you who are going to use our

972
00:33:50,080 --> 00:33:53,519
products

973
00:33:51,120 --> 00:33:54,799
and then the second thing is instead of

974
00:33:53,519 --> 00:33:56,880
just one evm

975
00:33:54,799 --> 00:33:58,320
right uh if everything is kind of like

976
00:33:56,880 --> 00:34:00,640
built inside evm

977
00:33:58,320 --> 00:34:02,720
um the the new innovations i talk about

978
00:34:00,640 --> 00:34:06,000
right so if you can pay gas fee

979
00:34:02,720 --> 00:34:08,320
in any tokens and also some of the uh

980
00:34:06,000 --> 00:34:09,760
you know the safer liquidation

981
00:34:08,320 --> 00:34:10,639
mechanisms that we have for our

982
00:34:09,760 --> 00:34:12,159
stablecoin

983
00:34:10,639 --> 00:34:14,399
uh you wouldn't be able to do that if

984
00:34:12,159 --> 00:34:16,800
you are only having a evm sandbox

985
00:34:14,399 --> 00:34:18,320
so the innovation here is we are able to

986
00:34:16,800 --> 00:34:21,280
customize a lot of the

987
00:34:18,320 --> 00:34:23,440
platform level uh stuff to make our

988
00:34:21,280 --> 00:34:25,760
financial product that's more robust

989
00:34:23,440 --> 00:34:26,639
and more production-grade ready and more

990
00:34:25,760 --> 00:34:29,280
scalable

991
00:34:26,639 --> 00:34:31,359
but of course you know we have an evm

992
00:34:29,280 --> 00:34:33,599
that is fully you know solidity and

993
00:34:31,359 --> 00:34:35,919
and ethereum compatible and we already

994
00:34:33,599 --> 00:34:39,520
have quite a number of projects to

995
00:34:35,919 --> 00:34:41,760
deploy on on us to actually build

996
00:34:39,520 --> 00:34:43,919
you know i guess launch their own

997
00:34:41,760 --> 00:34:46,560
branches open their own branches

998
00:34:43,919 --> 00:34:47,359
on akala and bring some of their users

999
00:34:46,560 --> 00:34:49,359
to

1000
00:34:47,359 --> 00:34:51,119
a color and polka dot ecosystem but of

1001
00:34:49,359 --> 00:34:54,000
course also get access to

1002
00:34:51,119 --> 00:34:55,679
a lot more asset variety within the

1003
00:34:54,000 --> 00:34:59,040
polka dot ecosystem

1004
00:34:55,679 --> 00:35:00,720
um and also um yeah we haven't we

1005
00:34:59,040 --> 00:35:03,680
haven't announced this but

1006
00:35:00,720 --> 00:35:04,960
i think i can i can i can share this is

1007
00:35:03,680 --> 00:35:08,000
we've recently also

1008
00:35:04,960 --> 00:35:08,320
collaborated with a compound lab so we

1009
00:35:08,000 --> 00:35:11,359
are

1010
00:35:08,320 --> 00:35:12,640
building a integration between akala and

1011
00:35:11,359 --> 00:35:13,920
the compound check which is a

1012
00:35:12,640 --> 00:35:16,400
multi-chain

1013
00:35:13,920 --> 00:35:18,880
money market so hopefully that will also

1014
00:35:16,400 --> 00:35:21,119
open doors because we always believe in

1015
00:35:18,880 --> 00:35:21,920
the multi-chain vision so hopefully we

1016
00:35:21,119 --> 00:35:24,240
can bring

1017
00:35:21,920 --> 00:35:25,200
the money market services into polka dot

1018
00:35:24,240 --> 00:35:27,680
and akala

1019
00:35:25,200 --> 00:35:28,400
but also at the same time open doors for

1020
00:35:27,680 --> 00:35:30,960
dots

1021
00:35:28,400 --> 00:35:32,400
and liquid those variety assets to be

1022
00:35:30,960 --> 00:35:34,640
added as new collaterals

1023
00:35:32,400 --> 00:35:35,520
uh in money markets so really trying to

1024
00:35:34,640 --> 00:35:38,240
accelerate

1025
00:35:35,520 --> 00:35:38,800
uh the progression of uh you know crypto

1026
00:35:38,240 --> 00:35:41,040
assets

1027
00:35:38,800 --> 00:35:42,800
uh in a multi-chain uh you know future

1028
00:35:41,040 --> 00:35:46,720
that we are seeing that's coming

1029
00:35:42,800 --> 00:35:48,960
coming live um so that's all i will say

1030
00:35:46,720 --> 00:35:49,760
uh in terms of uh just the product

1031
00:35:48,960 --> 00:35:52,000
itself

1032
00:35:49,760 --> 00:35:54,000
um and then do you want me to go into a

1033
00:35:52,000 --> 00:35:58,640
little bit of the

1034
00:35:54,000 --> 00:36:01,280
economic side of things right now or

1035
00:35:58,640 --> 00:36:02,560
yeah that that works you can show that i

1036
00:36:01,280 --> 00:36:03,040
think people have questions about that

1037
00:36:02,560 --> 00:36:04,880
and then

1038
00:36:03,040 --> 00:36:06,720
if you want to show the website okay

1039
00:36:04,880 --> 00:36:09,760
like you mentioned that'd be cool okay

1040
00:36:06,720 --> 00:36:11,680
sounds good uh i say what size do i have

1041
00:36:09,760 --> 00:36:15,119
here

1042
00:36:11,680 --> 00:36:16,880
right um uh okay so

1043
00:36:15,119 --> 00:36:19,040
uh i'll probably start addressing some

1044
00:36:16,880 --> 00:36:21,040
of the questions that people have and

1045
00:36:19,040 --> 00:36:23,680
and then just go into a bit more on the

1046
00:36:21,040 --> 00:36:26,400
on auction so one of the reasons why

1047
00:36:23,680 --> 00:36:26,800
uh you should consider uh perishing

1048
00:36:26,400 --> 00:36:29,119
auction

1049
00:36:26,800 --> 00:36:29,839
and obviously none of this is financial

1050
00:36:29,119 --> 00:36:33,520
advice

1051
00:36:29,839 --> 00:36:35,760
um is based on uh the economy of

1052
00:36:33,520 --> 00:36:36,560
uh of kusama or economy of polka dot

1053
00:36:35,760 --> 00:36:38,640
they're the same

1054
00:36:36,560 --> 00:36:40,240
uh so right now some folks asking the

1055
00:36:38,640 --> 00:36:41,119
question you know if you're enjoying

1056
00:36:40,240 --> 00:36:44,320
really high

1057
00:36:41,119 --> 00:36:46,720
uh return by staking why would you do

1058
00:36:44,320 --> 00:36:49,440
anything else with your ksm or dot right

1059
00:36:46,720 --> 00:36:51,680
so that's a very good question but i

1060
00:36:49,440 --> 00:36:54,480
encourage you to look at

1061
00:36:51,680 --> 00:36:56,400
i think the staking wiki on pokedoll so

1062
00:36:54,480 --> 00:36:59,599
basically what it says is on this

1063
00:36:56,400 --> 00:37:00,880
this chart is uh by design the optimal

1064
00:36:59,599 --> 00:37:04,720
economy of dot

1065
00:37:00,880 --> 00:37:07,280
or ksm equivalent is 50 is for staking

1066
00:37:04,720 --> 00:37:08,880
and about 25 to 30 is for perishing

1067
00:37:07,280 --> 00:37:11,920
auctions and 20

1068
00:37:08,880 --> 00:37:13,440
is like other stuff like liquid um

1069
00:37:11,920 --> 00:37:16,000
and right now because nothing is

1070
00:37:13,440 --> 00:37:18,800
happening um apart from staking

1071
00:37:16,000 --> 00:37:19,599
so this number is up a higher level i

1072
00:37:18,800 --> 00:37:22,560
think it's at

1073
00:37:19,599 --> 00:37:24,480
75 percent um and this this will

1074
00:37:22,560 --> 00:37:27,359
actually automatically adjust it

1075
00:37:24,480 --> 00:37:28,400
um if there are more than 50 of the

1076
00:37:27,359 --> 00:37:30,560
people staking

1077
00:37:28,400 --> 00:37:32,720
you will see the staking yield dropping

1078
00:37:30,560 --> 00:37:34,400
right so right now it's at 75 percent

1079
00:37:32,720 --> 00:37:36,079
so you're all fine everyone's take

1080
00:37:34,400 --> 00:37:38,400
stakes and you will still be fine

1081
00:37:36,079 --> 00:37:40,400
enjoying the highest uh staking return

1082
00:37:38,400 --> 00:37:41,839
but as soon as there's the first parrot

1083
00:37:40,400 --> 00:37:43,920
chain um

1084
00:37:41,839 --> 00:37:45,119
gets uh launched or perishing slot

1085
00:37:43,920 --> 00:37:47,200
becomes available

1086
00:37:45,119 --> 00:37:49,040
um you will start to see the return

1087
00:37:47,200 --> 00:37:49,520
gonna drop and this is like coded on

1088
00:37:49,040 --> 00:37:52,079
chain

1089
00:37:49,520 --> 00:37:54,079
right so um then kind of it's a market

1090
00:37:52,079 --> 00:37:57,200
mechanism to encourage people

1091
00:37:54,079 --> 00:38:00,640
uh to i guess allocate their uh their

1092
00:37:57,200 --> 00:38:02,480
tokens for different um i guess purposes

1093
00:38:00,640 --> 00:38:03,760
on the tank to bootstrap the parrot

1094
00:38:02,480 --> 00:38:05,599
chain um

1095
00:38:03,760 --> 00:38:07,040
as well as you know securing the network

1096
00:38:05,599 --> 00:38:10,480
so you should keep this in mind

1097
00:38:07,040 --> 00:38:12,320
um when you think about um i guess uh

1098
00:38:10,480 --> 00:38:14,240
staking versus auction it doesn't have

1099
00:38:12,320 --> 00:38:16,000
to be one or the other right you should

1100
00:38:14,240 --> 00:38:19,200
probably put things in different places

1101
00:38:16,000 --> 00:38:21,040
but uh anyway um so that's that

1102
00:38:19,200 --> 00:38:22,240
um and then the next one um i want to

1103
00:38:21,040 --> 00:38:25,280
touch on is

1104
00:38:22,240 --> 00:38:27,839
uh uh an analogy that i use

1105
00:38:25,280 --> 00:38:28,880
uh for uh what is the parroting auction

1106
00:38:27,839 --> 00:38:30,800
uh is like

1107
00:38:28,880 --> 00:38:32,560
so for those of you who who might be

1108
00:38:30,800 --> 00:38:35,520
familiar with i guess

1109
00:38:32,560 --> 00:38:36,240
staking or youth farming you can think

1110
00:38:35,520 --> 00:38:39,760
about this

1111
00:38:36,240 --> 00:38:41,040
as a committed uh staking or committed

1112
00:38:39,760 --> 00:38:44,160
you farming

1113
00:38:41,040 --> 00:38:47,440
on uh on kusama so basically

1114
00:38:44,160 --> 00:38:50,000
you are putting in your ksm as a bomb

1115
00:38:47,440 --> 00:38:51,359
so you are you farming right but you

1116
00:38:50,000 --> 00:38:54,000
have to commit for

1117
00:38:51,359 --> 00:38:54,800
however long the lease period is so

1118
00:38:54,000 --> 00:38:57,920
right now

1119
00:38:54,800 --> 00:38:59,680
the uh the the the talks out there is

1120
00:38:57,920 --> 00:39:01,359
between six months to one year

1121
00:38:59,680 --> 00:39:03,520
we still don't know that's why you will

1122
00:39:01,359 --> 00:39:05,440
see on our website it's still tbd

1123
00:39:03,520 --> 00:39:07,440
right so as soon as we know for sure

1124
00:39:05,440 --> 00:39:08,480
then we will release that uh figure to

1125
00:39:07,440 --> 00:39:11,040
everyone

1126
00:39:08,480 --> 00:39:12,880
so basically this concept is you kind of

1127
00:39:11,040 --> 00:39:15,680
state your ksm

1128
00:39:12,880 --> 00:39:16,160
for uh karura and then you will get a

1129
00:39:15,680 --> 00:39:20,240
return

1130
00:39:16,160 --> 00:39:22,000
in the kr token right so

1131
00:39:20,240 --> 00:39:24,079
and of course this is different from

1132
00:39:22,000 --> 00:39:27,280
your everyday you farming

1133
00:39:24,079 --> 00:39:30,400
because this is a lot longer term

1134
00:39:27,280 --> 00:39:34,240
so eating kind of like uh

1135
00:39:30,400 --> 00:39:34,800
yeah i always like uh uh use an analogy

1136
00:39:34,240 --> 00:39:37,359
for the

1137
00:39:34,800 --> 00:39:38,000
perishing auction as a reverse ico uh

1138
00:39:37,359 --> 00:39:40,400
because

1139
00:39:38,000 --> 00:39:41,760
on a normal ico uh you basically

1140
00:39:40,400 --> 00:39:44,240
encourage people to

1141
00:39:41,760 --> 00:39:45,920
set up a you know simple contract um and

1142
00:39:44,240 --> 00:39:47,839
then you raise a whole bunch of funds

1143
00:39:45,920 --> 00:39:49,920
but you hold nobody accountable right so

1144
00:39:47,839 --> 00:39:50,240
nobody is encouraged to deliver at the

1145
00:39:49,920 --> 00:39:52,240
end

1146
00:39:50,240 --> 00:39:53,680
once you raise a whole bunch of money um

1147
00:39:52,240 --> 00:39:55,040
it's very good for crowdsourcing but

1148
00:39:53,680 --> 00:39:58,000
it's not very good to

1149
00:39:55,040 --> 00:39:58,400
uh make people accountable for delivery

1150
00:39:58,000 --> 00:40:00,320
uh

1151
00:39:58,400 --> 00:40:01,599
the setup on polka dot the the

1152
00:40:00,320 --> 00:40:03,520
parachuting auctions

1153
00:40:01,599 --> 00:40:04,960
it's a reverse stat so let me explain

1154
00:40:03,520 --> 00:40:08,720
right um

1155
00:40:04,960 --> 00:40:11,599
basically uh you uh you you kind of uh

1156
00:40:08,720 --> 00:40:13,440
ask people to put up a bond for ksm and

1157
00:40:11,599 --> 00:40:16,960
then at the end they're getting kr

1158
00:40:13,440 --> 00:40:19,040
in return right so uh you encourage the

1159
00:40:16,960 --> 00:40:21,040
ksm holders to look long term

1160
00:40:19,040 --> 00:40:23,359
because i'm sure there will be a hundred

1161
00:40:21,040 --> 00:40:26,240
poker projects out there promising you

1162
00:40:23,359 --> 00:40:27,280
a thousand percent apy but then you have

1163
00:40:26,240 --> 00:40:29,760
to ask yourself

1164
00:40:27,280 --> 00:40:31,680
do they still hold value after you know

1165
00:40:29,760 --> 00:40:32,240
six months or a year this is not you

1166
00:40:31,680 --> 00:40:34,720
farming

1167
00:40:32,240 --> 00:40:36,000
that you can just move your bags um

1168
00:40:34,720 --> 00:40:38,400
within three days

1169
00:40:36,000 --> 00:40:40,480
uh or uh two weeks or something like

1170
00:40:38,400 --> 00:40:42,560
that right so this is once you log

1171
00:40:40,480 --> 00:40:44,720
it's gonna lock for a relatively long

1172
00:40:42,560 --> 00:40:46,960
period of time so to kind of encourage

1173
00:40:44,720 --> 00:40:48,880
everyone who participate think slightly

1174
00:40:46,960 --> 00:40:50,960
long term think about value

1175
00:40:48,880 --> 00:40:52,800
think about product and services they

1176
00:40:50,960 --> 00:40:53,280
actually want to use or would want to

1177
00:40:52,800 --> 00:40:55,119
use

1178
00:40:53,280 --> 00:40:56,800
once those uh parrot chain are long

1179
00:40:55,119 --> 00:40:58,560
chain right and then you also want to

1180
00:40:56,800 --> 00:41:00,720
think are those product services

1181
00:40:58,560 --> 00:41:01,920
is gonna be able to bootstrap and

1182
00:41:00,720 --> 00:41:04,079
actually create value

1183
00:41:01,920 --> 00:41:05,920
for the network as a whole right so

1184
00:41:04,079 --> 00:41:08,000
that's uh that's a uh

1185
00:41:05,920 --> 00:41:09,680
incentive alignment for the participant

1186
00:41:08,000 --> 00:41:12,319
the ksm or dot holders

1187
00:41:09,680 --> 00:41:12,880
um and then for the uh project uh part

1188
00:41:12,319 --> 00:41:16,000
of it

1189
00:41:12,880 --> 00:41:18,160
is we don't get anything out of this um

1190
00:41:16,000 --> 00:41:19,920
we we don't get the funds uh so it's not

1191
00:41:18,160 --> 00:41:22,400
a fundraising event we don't get to

1192
00:41:19,920 --> 00:41:24,480
touch any of the funds that you locked

1193
00:41:22,400 --> 00:41:25,680
the only thing we are getting is an

1194
00:41:24,480 --> 00:41:27,760
opportunity

1195
00:41:25,680 --> 00:41:29,760
to launch our network and then to prove

1196
00:41:27,760 --> 00:41:31,119
uh to everyone that our product services

1197
00:41:29,760 --> 00:41:33,760
is going to create value

1198
00:41:31,119 --> 00:41:34,960
and then we only gain anything if after

1199
00:41:33,760 --> 00:41:38,000
six months or a year

1200
00:41:34,960 --> 00:41:39,760
we deliver value right so then it kind

1201
00:41:38,000 --> 00:41:42,000
of encourages us to deliver

1202
00:41:39,760 --> 00:41:43,599
if we have just a simple change have no

1203
00:41:42,000 --> 00:41:45,839
product you know i'll be

1204
00:41:43,599 --> 00:41:47,680
you know i'm not sure if i uh i will be

1205
00:41:45,839 --> 00:41:48,079
very confident that in six months time

1206
00:41:47,680 --> 00:41:50,480
you know

1207
00:41:48,079 --> 00:41:51,119
i will be able to uh kind of have

1208
00:41:50,480 --> 00:41:53,839
traction

1209
00:41:51,119 --> 00:41:54,400
or real utility off the network to serve

1210
00:41:53,839 --> 00:41:56,160
everybody

1211
00:41:54,400 --> 00:41:58,079
so that's kind of like incentive for the

1212
00:41:56,160 --> 00:42:00,240
team to actually deliver

1213
00:41:58,079 --> 00:42:01,839
and then the third thing is if this all

1214
00:42:00,240 --> 00:42:05,119
goes really well

1215
00:42:01,839 --> 00:42:06,560
then this is an addition to the kusama

1216
00:42:05,119 --> 00:42:08,400
or the polka dot ecosystem

1217
00:42:06,560 --> 00:42:10,319
it's going to bring the entire ecosystem

1218
00:42:08,400 --> 00:42:13,440
up right because you have real traction

1219
00:42:10,319 --> 00:42:15,359
uh real volumes real crushing uh

1220
00:42:13,440 --> 00:42:16,960
i guess defy activity or whatever

1221
00:42:15,359 --> 00:42:19,680
activities that will be going on

1222
00:42:16,960 --> 00:42:20,720
so it's a trickle up effect you know for

1223
00:42:19,680 --> 00:42:22,800
the token holders

1224
00:42:20,720 --> 00:42:25,599
uh for the project as well as for the

1225
00:42:22,800 --> 00:42:27,680
entire dot and ksm ecosystem

1226
00:42:25,599 --> 00:42:28,880
so yeah i encourage you to think in the

1227
00:42:27,680 --> 00:42:31,280
frames of that

1228
00:42:28,880 --> 00:42:32,640
but again it's not a financial advice

1229
00:42:31,280 --> 00:42:34,400
but it's in general

1230
00:42:32,640 --> 00:42:35,680
when you you know think about projects

1231
00:42:34,400 --> 00:42:36,560
think about which auctions to

1232
00:42:35,680 --> 00:42:38,720
participate

1233
00:42:36,560 --> 00:42:40,400
uh these are the parameters that you

1234
00:42:38,720 --> 00:42:42,800
probably would want to think

1235
00:42:40,400 --> 00:42:44,000
instead of just looking at a percentage

1236
00:42:42,800 --> 00:42:47,200
of apy

1237
00:42:44,000 --> 00:42:49,920
uh you know that's as one ruler right

1238
00:42:47,200 --> 00:42:51,359
so speaking of that one one thing i

1239
00:42:49,920 --> 00:42:53,359
wanted to add on this slide is people

1240
00:42:51,359 --> 00:42:55,760
were asking about the one year

1241
00:42:53,359 --> 00:42:56,400
um this is meant to be an example time

1242
00:42:55,760 --> 00:42:59,359
frame

1243
00:42:56,400 --> 00:42:59,920
um we're actually waiting to hear from

1244
00:42:59,359 --> 00:43:02,720
gavin

1245
00:42:59,920 --> 00:43:03,680
and the team um building kusama on the

1246
00:43:02,720 --> 00:43:06,960
exact

1247
00:43:03,680 --> 00:43:07,920
uh duration of these slots so we are

1248
00:43:06,960 --> 00:43:10,720
hoping

1249
00:43:07,920 --> 00:43:11,280
um we are hoping that the minute or the

1250
00:43:10,720 --> 00:43:14,079
the

1251
00:43:11,280 --> 00:43:16,000
minimum is what am i trying to say we're

1252
00:43:14,079 --> 00:43:18,560
hoping that we can bid for

1253
00:43:16,000 --> 00:43:19,119
at least a year if not a couple years

1254
00:43:18,560 --> 00:43:20,319
but

1255
00:43:19,119 --> 00:43:22,720
um we're still waiting to hear of the

1256
00:43:20,319 --> 00:43:23,760
exact parameters the the parameters that

1257
00:43:22,720 --> 00:43:25,280
have been announced

1258
00:43:23,760 --> 00:43:27,680
have been announced for polka dot and

1259
00:43:25,280 --> 00:43:29,520
polka dots parachain slots will be

1260
00:43:27,680 --> 00:43:31,359
up to two years so as a parrot chain

1261
00:43:29,520 --> 00:43:33,440
team you can you can bid

1262
00:43:31,359 --> 00:43:35,040
and commit to a two year time frame and

1263
00:43:33,440 --> 00:43:36,240
that's the amount of time that the dot

1264
00:43:35,040 --> 00:43:39,760
would actually be locked

1265
00:43:36,240 --> 00:43:40,160
for um but that's the max teams can

1266
00:43:39,760 --> 00:43:42,640
actually

1267
00:43:40,160 --> 00:43:44,160
choose um up to one-fourth of that on

1268
00:43:42,640 --> 00:43:47,599
polka dots so it could be down to

1269
00:43:44,160 --> 00:43:49,359
as little as six months so if you're

1270
00:43:47,599 --> 00:43:51,599
watching if you're super engaged in the

1271
00:43:49,359 --> 00:43:54,240
community the probably the number one

1272
00:43:51,599 --> 00:43:55,040
thing that i'm watching for is how long

1273
00:43:54,240 --> 00:43:56,720
the maximum

1274
00:43:55,040 --> 00:43:58,079
is for kusama slots because it's a big

1275
00:43:56,720 --> 00:44:01,760
deal and it really

1276
00:43:58,079 --> 00:44:01,760
needs to be at least one year

1277
00:44:02,000 --> 00:44:06,240
uh yeah that's that's exactly right um

1278
00:44:04,800 --> 00:44:09,280
and then i also

1279
00:44:06,240 --> 00:44:10,160
see some people asking uh the reward so

1280
00:44:09,280 --> 00:44:12,960
basically

1281
00:44:10,160 --> 00:44:13,520
uh once you participate into crowd loan

1282
00:44:12,960 --> 00:44:16,880
and then

1283
00:44:13,520 --> 00:44:19,599
uh we managed to win um then uh

1284
00:44:16,880 --> 00:44:20,319
the kr rewards will be given out as soon

1285
00:44:19,599 --> 00:44:22,720
as we launch

1286
00:44:20,319 --> 00:44:24,400
so the full amount will be dropped to

1287
00:44:22,720 --> 00:44:26,800
you uh as soon as we launch

1288
00:44:24,400 --> 00:44:27,520
but of course there is a vesting um but

1289
00:44:26,800 --> 00:44:29,920
30

1290
00:44:27,520 --> 00:44:30,720
will be you know free free liquid up

1291
00:44:29,920 --> 00:44:32,640
front and then

1292
00:44:30,720 --> 00:44:34,640
the rest of it will be vested throughout

1293
00:44:32,640 --> 00:44:37,200
however long the lease period

1294
00:44:34,640 --> 00:44:38,400
is and then another parameters um i

1295
00:44:37,200 --> 00:44:41,520
guess to

1296
00:44:38,400 --> 00:44:43,839
look after is we are giving out about 11

1297
00:44:41,520 --> 00:44:44,720
of supply but that doesn't make any

1298
00:44:43,839 --> 00:44:47,440
sense if you

1299
00:44:44,720 --> 00:44:50,000
haven't actually read through our token

1300
00:44:47,440 --> 00:44:51,280
economics so i encourage you to uh

1301
00:44:50,000 --> 00:44:52,880
yeah we just launched a very cool

1302
00:44:51,280 --> 00:44:53,760
website so you encourage you actually

1303
00:44:52,880 --> 00:44:55,760
look through it

1304
00:44:53,760 --> 00:44:58,319
uh instead of the very dry and plain

1305
00:44:55,760 --> 00:44:58,800
white paper so basically the idea here

1306
00:44:58,319 --> 00:45:02,160
is

1307
00:44:58,800 --> 00:45:04,319
uh we our token supply is fixed

1308
00:45:02,160 --> 00:45:05,599
so this is very important so we are not

1309
00:45:04,319 --> 00:45:08,640
actually printing

1310
00:45:05,599 --> 00:45:10,720
uh inflations and then reward you uh for

1311
00:45:08,640 --> 00:45:13,520
all the auctions and any activities

1312
00:45:10,720 --> 00:45:15,359
so basically this is similar to i guess

1313
00:45:13,520 --> 00:45:17,280
bitcoin's fixed supply right it's

1314
00:45:15,359 --> 00:45:19,599
21 billion and whatever you get is

1315
00:45:17,280 --> 00:45:22,400
whatever you get the percentage portion

1316
00:45:19,599 --> 00:45:23,839
of the entire supply so there's no new

1317
00:45:22,400 --> 00:45:26,960
issuance of coins

1318
00:45:23,839 --> 00:45:29,200
right so it's not in the design so um

1319
00:45:26,960 --> 00:45:31,119
and so this is important uh to keep in

1320
00:45:29,200 --> 00:45:34,240
mind um so when i say

1321
00:45:31,119 --> 00:45:37,440
11 of supply is used for

1322
00:45:34,240 --> 00:45:40,480
uh the first year auction it is a

1323
00:45:37,440 --> 00:45:42,400
hugely significant amount and that's

1324
00:45:40,480 --> 00:45:43,680
that is not from inflation and we don't

1325
00:45:42,400 --> 00:45:46,079
print any of those

1326
00:45:43,680 --> 00:45:46,880
um so hopefully you know that make uh

1327
00:45:46,079 --> 00:45:49,040
some sense

1328
00:45:46,880 --> 00:45:51,040
uh there um and then of course you know

1329
00:45:49,040 --> 00:45:53,839
like uh this eleven percent uh

1330
00:45:51,040 --> 00:45:55,599
beyond that there are also other rewards

1331
00:45:53,839 --> 00:45:57,280
uh once we are launched because

1332
00:45:55,599 --> 00:45:59,119
we're not just a chain we also have a

1333
00:45:57,280 --> 00:46:01,280
full set of product so

1334
00:45:59,119 --> 00:46:02,880
as long as you have you know ksm or dog

1335
00:46:01,280 --> 00:46:06,160
then you can use those

1336
00:46:02,880 --> 00:46:09,920
for i guess using any of our d5 products

1337
00:46:06,160 --> 00:46:11,839
and there will be liquidity programs

1338
00:46:09,920 --> 00:46:14,240
that you can do some you farming but of

1339
00:46:11,839 --> 00:46:16,079
course our design is more sustainable

1340
00:46:14,240 --> 00:46:17,760
you found me so hopefully people can

1341
00:46:16,079 --> 00:46:20,720
enjoy a longer term

1342
00:46:17,760 --> 00:46:22,319
but more sustainable and stable return

1343
00:46:20,720 --> 00:46:25,440
rather than this you know

1344
00:46:22,319 --> 00:46:26,720
four-digit uh returns then uh it doesn't

1345
00:46:25,440 --> 00:46:30,480
last very long right

1346
00:46:26,720 --> 00:46:33,119
so yeah so um i think that's

1347
00:46:30,480 --> 00:46:33,920
that's all i want to talk about um and

1348
00:46:33,119 --> 00:46:35,920
then also i

1349
00:46:33,920 --> 00:46:37,760
actually noted down one question that is

1350
00:46:35,920 --> 00:46:38,319
very good uh someone actually asked

1351
00:46:37,760 --> 00:46:41,839
about

1352
00:46:38,319 --> 00:46:42,800
exchange um so i think for participating

1353
00:46:41,839 --> 00:46:44,960
uh on

1354
00:46:42,800 --> 00:46:45,920
uh the crowd long there are a few

1355
00:46:44,960 --> 00:46:49,119
different ways

1356
00:46:45,920 --> 00:46:50,480
so one is you can use your polka dot js

1357
00:46:49,119 --> 00:46:52,400
and then come to the website and then

1358
00:46:50,480 --> 00:46:53,760
you can participate it or you can go to

1359
00:46:52,400 --> 00:46:56,640
the polka dot

1360
00:46:53,760 --> 00:46:57,119
js web application to participate if

1361
00:46:56,640 --> 00:46:59,359
you're on

1362
00:46:57,119 --> 00:47:00,720
exchange so we're working with a few of

1363
00:46:59,359 --> 00:47:02,880
them um

1364
00:47:00,720 --> 00:47:04,560
you need to check with your exchange if

1365
00:47:02,880 --> 00:47:08,079
they directly support

1366
00:47:04,560 --> 00:47:10,160
uh you know karura or akala's

1367
00:47:08,079 --> 00:47:12,640
crop lawn and then you can do it on

1368
00:47:10,160 --> 00:47:13,440
exchange uh but never use the exchange

1369
00:47:12,640 --> 00:47:16,400
address

1370
00:47:13,440 --> 00:47:17,440
directly on uh our crowd loan on our

1371
00:47:16,400 --> 00:47:20,480
website or

1372
00:47:17,440 --> 00:47:22,480
uh on the polka dot js website

1373
00:47:20,480 --> 00:47:24,559
so yeah so i hope that answers that

1374
00:47:22,480 --> 00:47:26,480
question and then uh

1375
00:47:24,559 --> 00:47:28,880
that's all i'll be sharing i'll just

1376
00:47:26,480 --> 00:47:28,880
stop there

1377
00:47:30,160 --> 00:47:35,839
cool so i think it's been about

1378
00:47:33,200 --> 00:47:37,040
50 minutes so um we're going to start

1379
00:47:35,839 --> 00:47:39,280
going through questions

1380
00:47:37,040 --> 00:47:41,040
obviously everyone is on totally

1381
00:47:39,280 --> 00:47:43,599
different time zones so that's it for

1382
00:47:41,040 --> 00:47:46,160
the presentation if you do need to go

1383
00:47:43,599 --> 00:47:47,599
this is going to be available on our

1384
00:47:46,160 --> 00:47:51,040
youtube channel

1385
00:47:47,599 --> 00:47:51,520
i've pasted the link but maybe robin you

1386
00:47:51,040 --> 00:47:53,119
can

1387
00:47:51,520 --> 00:47:54,880
paste that again but it's just

1388
00:47:53,119 --> 00:47:58,720
youtube.com

1389
00:47:54,880 --> 00:48:00,319
c akala network um but let's get into

1390
00:47:58,720 --> 00:48:01,839
the questions now

1391
00:48:00,319 --> 00:48:03,680
betty i'll just go through these and

1392
00:48:01,839 --> 00:48:05,280
read them out and then we can

1393
00:48:03,680 --> 00:48:07,599
take a stab at all of them they're as

1394
00:48:05,280 --> 00:48:11,040
many as we can

1395
00:48:07,599 --> 00:48:13,119
um okay so the first one since you can

1396
00:48:11,040 --> 00:48:15,359
stay kusama for 12

1397
00:48:13,119 --> 00:48:17,599
or more how will the gains of

1398
00:48:15,359 --> 00:48:20,000
participating in a crowd loan compete

1399
00:48:17,599 --> 00:48:23,839
with staking

1400
00:48:20,000 --> 00:48:23,839
i may let you take that buddy

1401
00:48:28,319 --> 00:48:32,160
uh yeah sure um i think i kind of

1402
00:48:30,880 --> 00:48:34,720
answered that

1403
00:48:32,160 --> 00:48:35,440
with was that chart the pie chart there

1404
00:48:34,720 --> 00:48:38,400
right so

1405
00:48:35,440 --> 00:48:38,960
um yeah so you you need to think about

1406
00:48:38,400 --> 00:48:42,000
how

1407
00:48:38,960 --> 00:48:44,640
uh the optimal economy and how that may

1408
00:48:42,000 --> 00:48:45,440
affect you um and also for each project

1409
00:48:44,640 --> 00:48:47,920
you know like

1410
00:48:45,440 --> 00:48:50,079
um they are giving out rewards and those

1411
00:48:47,920 --> 00:48:52,960
rewards are probably you can

1412
00:48:50,079 --> 00:48:54,000
uh calculate it with opportunity cost so

1413
00:48:52,960 --> 00:48:56,400
that 12

1414
00:48:54,000 --> 00:48:57,040
you know is converted to you know how

1415
00:48:56,400 --> 00:48:59,119
much

1416
00:48:57,040 --> 00:49:00,160
uh that you think is valuable for the

1417
00:48:59,119 --> 00:49:01,920
project but

1418
00:49:00,160 --> 00:49:03,599
obviously that's not a financial advice

1419
00:49:01,920 --> 00:49:04,559
for you but that those are the frames

1420
00:49:03,599 --> 00:49:07,119
that you can

1421
00:49:04,559 --> 00:49:08,400
think about but at the same time many of

1422
00:49:07,119 --> 00:49:10,079
these projects

1423
00:49:08,400 --> 00:49:11,920
if they haven't mainnet yet right so

1424
00:49:10,079 --> 00:49:13,839
like akala we haven't launched

1425
00:49:11,920 --> 00:49:15,440
our token yet so this will for us this

1426
00:49:13,839 --> 00:49:18,559
is like a big thing this is our

1427
00:49:15,440 --> 00:49:19,040
token distribution event um so obviously

1428
00:49:18,559 --> 00:49:21,119
you know

1429
00:49:19,040 --> 00:49:22,160
uh for us this is like the first debut

1430
00:49:21,119 --> 00:49:24,559
to the public

1431
00:49:22,160 --> 00:49:25,520
um and then that's another probably

1432
00:49:24,559 --> 00:49:28,000
thinking you know

1433
00:49:25,520 --> 00:49:29,440
in comparison the different parachain

1434
00:49:28,000 --> 00:49:31,119
auctions

1435
00:49:29,440 --> 00:49:33,359
then you can figure out whether it's

1436
00:49:31,119 --> 00:49:35,200
worthwhile uh supporting the

1437
00:49:33,359 --> 00:49:36,400
projects and also at the same time if

1438
00:49:35,200 --> 00:49:37,119
you're only holding the token and

1439
00:49:36,400 --> 00:49:39,200
staking

1440
00:49:37,119 --> 00:49:41,359
um where's the value come from if poco

1441
00:49:39,200 --> 00:49:44,000
only have its relay chain is it gonna be

1442
00:49:41,359 --> 00:49:45,359
uh valuable i think does vision is

1443
00:49:44,000 --> 00:49:45,920
actually have a hundred power chains

1444
00:49:45,359 --> 00:49:48,960
that's how

1445
00:49:45,920 --> 00:49:51,440
polka dot becomes this world changing um

1446
00:49:48,960 --> 00:49:53,280
sort of technology as the base layer of

1447
00:49:51,440 --> 00:49:57,040
uh the web 3 internet of

1448
00:49:53,280 --> 00:49:58,880
uh the internet of blockchains

1449
00:49:57,040 --> 00:50:00,960
right so if only has one chain you're

1450
00:49:58,880 --> 00:50:03,119
only supporting that one relay chain

1451
00:50:00,960 --> 00:50:04,400
then it's not very much aligned with

1452
00:50:03,119 --> 00:50:07,119
where you actually want

1453
00:50:04,400 --> 00:50:09,040
the polka dot ecosystem to go so

1454
00:50:07,119 --> 00:50:09,839
hopefully that's also another pointer to

1455
00:50:09,040 --> 00:50:13,839
think about

1456
00:50:09,839 --> 00:50:15,839
yeah cool um the next one is a good

1457
00:50:13,839 --> 00:50:17,280
question so will karua be cross chain

1458
00:50:15,839 --> 00:50:20,559
compatible with eth

1459
00:50:17,280 --> 00:50:22,160
immediately from launch

1460
00:50:20,559 --> 00:50:23,760
uh yeah so i think i think for folks

1461
00:50:22,160 --> 00:50:26,000
who's been with us for a while

1462
00:50:23,760 --> 00:50:26,960
um it's very easy to watch you know if

1463
00:50:26,000 --> 00:50:28,800
we uh

1464
00:50:26,960 --> 00:50:30,000
let's say if we announce something in

1465
00:50:28,800 --> 00:50:32,079
the next month or so

1466
00:50:30,000 --> 00:50:34,000
that there's a ethereum bridge and you

1467
00:50:32,079 --> 00:50:37,200
can actually go on and click and

1468
00:50:34,000 --> 00:50:40,720
you know kind of uh uh teleport your eth

1469
00:50:37,200 --> 00:50:42,880
or erc20 into a color test net

1470
00:50:40,720 --> 00:50:44,000
then then you know you know for sure

1471
00:50:42,880 --> 00:50:44,880
that it's going to happen so we're

1472
00:50:44,000 --> 00:50:47,280
aiming for that

1473
00:50:44,880 --> 00:50:48,319
so we already have something working but

1474
00:50:47,280 --> 00:50:50,480
it's not to

1475
00:50:48,319 --> 00:50:55,839
our standard to be able to launch to to

1476
00:50:50,480 --> 00:50:58,160
the public just yet so yeah

1477
00:50:55,839 --> 00:50:58,160
um

1478
00:51:00,000 --> 00:51:04,240
have the men and max caps per person

1479
00:51:02,720 --> 00:51:07,680
been determined

1480
00:51:04,240 --> 00:51:09,760
for the career crowd loan

1481
00:51:07,680 --> 00:51:12,319
um i don't think there's a minimum um

1482
00:51:09,760 --> 00:51:12,800
but we will warn people that you need to

1483
00:51:12,319 --> 00:51:15,520
put

1484
00:51:12,800 --> 00:51:17,599
more than the existential uh

1485
00:51:15,520 --> 00:51:20,079
requirements but basically if you put

1486
00:51:17,599 --> 00:51:20,960
i think is it one one dot or something

1487
00:51:20,079 --> 00:51:22,559
is the minimum

1488
00:51:20,960 --> 00:51:24,319
requirement right otherwise your account

1489
00:51:22,559 --> 00:51:25,920
is going to get scrapped so you you need

1490
00:51:24,319 --> 00:51:27,359
to like participate at least you know

1491
00:51:25,920 --> 00:51:29,920
one dot because otherwise

1492
00:51:27,359 --> 00:51:31,440
when the dot returns to your account um

1493
00:51:29,920 --> 00:51:32,000
it's going to be contributed to the

1494
00:51:31,440 --> 00:51:33,839
treasury

1495
00:51:32,000 --> 00:51:35,839
there's not a problem for us but then

1496
00:51:33,839 --> 00:51:37,839
you probably don't want your dot to be

1497
00:51:35,839 --> 00:51:39,040
you know directly contributed to uh to

1498
00:51:37,839 --> 00:51:41,119
treasury if it's uh

1499
00:51:39,040 --> 00:51:43,040
too little amount uh but other than that

1500
00:51:41,119 --> 00:51:45,680
we don't have any specific requirement

1501
00:51:43,040 --> 00:51:45,680
at this stage

1502
00:51:47,440 --> 00:51:53,359
okay um how many aca

1503
00:51:51,040 --> 00:51:54,160
tokens is estimated to be rewarded for

1504
00:51:53,359 --> 00:51:56,480
each dot

1505
00:51:54,160 --> 00:51:57,599
loaned for each of these different lease

1506
00:51:56,480 --> 00:52:00,400
periods

1507
00:51:57,599 --> 00:52:00,800
um i can answer that we haven't released

1508
00:52:00,400 --> 00:52:03,599
or

1509
00:52:00,800 --> 00:52:04,400
or determined anything related to the

1510
00:52:03,599 --> 00:52:06,720
akala

1511
00:52:04,400 --> 00:52:07,440
um crowd loan quite yet um everything

1512
00:52:06,720 --> 00:52:10,079
right now

1513
00:52:07,440 --> 00:52:11,760
um just just keep an eye out for the

1514
00:52:10,079 --> 00:52:13,359
additional details for the length and

1515
00:52:11,760 --> 00:52:15,280
the duration of the

1516
00:52:13,359 --> 00:52:17,119
kusama slots and that will determine

1517
00:52:15,280 --> 00:52:18,559
many of the numbers for kura

1518
00:52:17,119 --> 00:52:20,160
and then we'll follow that up of course

1519
00:52:18,559 --> 00:52:21,520
with all the information about akala

1520
00:52:20,160 --> 00:52:24,720
when the time comes but

1521
00:52:21,520 --> 00:52:24,720
nothing on that yet

1522
00:52:26,240 --> 00:52:32,960
um how long will the founding team have

1523
00:52:30,559 --> 00:52:34,800
their tokens locked

1524
00:52:32,960 --> 00:52:37,839
uh that's a that's a good question

1525
00:52:34,800 --> 00:52:39,200
that's why we put up the token page so

1526
00:52:37,839 --> 00:52:41,359
you can look it up there so it's

1527
00:52:39,200 --> 00:52:43,119
basically log 18 month and then that's

1528
00:52:41,359 --> 00:52:44,839
another 18 months so it's a long time

1529
00:52:43,119 --> 00:52:47,839
coming

1530
00:52:44,839 --> 00:52:47,839
yep

1531
00:52:50,000 --> 00:52:56,319
um this person's asking about

1532
00:52:54,079 --> 00:52:57,359
okay so what is the percentage of value

1533
00:52:56,319 --> 00:53:00,640
that you would get

1534
00:52:57,359 --> 00:53:02,800
from ksm to lksm when borrowing against

1535
00:53:00,640 --> 00:53:02,800
it

1536
00:53:06,000 --> 00:53:12,000
um yeah so this is

1537
00:53:09,119 --> 00:53:13,680
actually a little bit like i do have to

1538
00:53:12,000 --> 00:53:16,559
use the compound analogy again

1539
00:53:13,680 --> 00:53:16,880
so when you put your dye into the pool

1540
00:53:16,559 --> 00:53:19,920
uh

1541
00:53:16,880 --> 00:53:21,680
you're continuously earning interest and

1542
00:53:19,920 --> 00:53:25,200
then it's represented in the

1543
00:53:21,680 --> 00:53:28,480
cdi token so in the ksm and lksm is

1544
00:53:25,200 --> 00:53:30,000
similar from the concept perspective so

1545
00:53:28,480 --> 00:53:32,160
when you put the ksm

1546
00:53:30,000 --> 00:53:33,119
into the pool uh you still have that

1547
00:53:32,160 --> 00:53:35,599
much ksm

1548
00:53:33,119 --> 00:53:36,400
but every day you're gonna accrue more

1549
00:53:35,599 --> 00:53:38,720
ksm

1550
00:53:36,400 --> 00:53:40,319
staking youth um that will represent in

1551
00:53:38,720 --> 00:53:43,040
the l token so you will see

1552
00:53:40,319 --> 00:53:45,040
when you have your liquid ksm account

1553
00:53:43,040 --> 00:53:47,839
you will see your ksm just keep going up

1554
00:53:45,040 --> 00:53:48,079
basically and then that's just based on

1555
00:53:47,839 --> 00:53:52,640
the

1556
00:53:48,079 --> 00:53:52,640
staking ut that you get on a daily basis

1557
00:53:54,160 --> 00:53:59,760
yep so tom good question hopefully that

1558
00:53:56,880 --> 00:53:59,760
answers your question

1559
00:54:01,920 --> 00:54:07,280
okay so will the

1560
00:54:04,960 --> 00:54:08,960
akala crowd loan participants get

1561
00:54:07,280 --> 00:54:11,680
carrera airdrop

1562
00:54:08,960 --> 00:54:12,000
or getting carrera is only possible

1563
00:54:11,680 --> 00:54:15,520
through

1564
00:54:12,000 --> 00:54:19,359
ksn crowd loan um so

1565
00:54:15,520 --> 00:54:21,359
um i think uh what we don't know uh

1566
00:54:19,359 --> 00:54:22,720
the akala quite long is going to happen

1567
00:54:21,359 --> 00:54:25,520
way after

1568
00:54:22,720 --> 00:54:26,880
the cora are quite long so we are right

1569
00:54:25,520 --> 00:54:30,240
now we're just focused on

1570
00:54:26,880 --> 00:54:33,599
the kura campaign right so i think uh

1571
00:54:30,240 --> 00:54:35,440
uh there's always many different ways to

1572
00:54:33,599 --> 00:54:36,960
to actually participate right so

1573
00:54:35,440 --> 00:54:37,359
obviously the crowd long is the biggest

1574
00:54:36,960 --> 00:54:39,839
one

1575
00:54:37,359 --> 00:54:40,480
that we are we are preparing right now

1576
00:54:39,839 --> 00:54:42,799
um so

1577
00:54:40,480 --> 00:54:44,799
all our focus is on that to try to

1578
00:54:42,799 --> 00:54:47,040
figure out if we are giving out enough

1579
00:54:44,799 --> 00:54:48,319
uh rewards and also different ways to

1580
00:54:47,040 --> 00:54:50,799
incentivize people

1581
00:54:48,319 --> 00:54:52,640
and also also get as many our own

1582
00:54:50,799 --> 00:54:56,240
community members participate

1583
00:54:52,640 --> 00:54:57,599
as possible but as for later on uh maybe

1584
00:54:56,240 --> 00:54:58,000
a month or two months i don't know how

1585
00:54:57,599 --> 00:55:00,160
long

1586
00:54:58,000 --> 00:55:02,319
the akala quite long or polka dot is

1587
00:55:00,160 --> 00:55:03,280
ready then we can go into a bit more

1588
00:55:02,319 --> 00:55:05,359
detail

1589
00:55:03,280 --> 00:55:06,480
on uh if you participate in a color

1590
00:55:05,359 --> 00:55:07,760
quite long what you're going to get

1591
00:55:06,480 --> 00:55:10,960
right so right now i'm

1592
00:55:07,760 --> 00:55:14,160
talking mostly uh just the kura okusama

1593
00:55:10,960 --> 00:55:14,160
uh paroting auction

1594
00:55:15,440 --> 00:55:20,079
cool okay another good question so brian

1595
00:55:18,960 --> 00:55:22,079
asked

1596
00:55:20,079 --> 00:55:23,760
um i guess betty you answered it in the

1597
00:55:22,079 --> 00:55:24,720
in the text but i'll just read it real

1598
00:55:23,760 --> 00:55:26,319
quick

1599
00:55:24,720 --> 00:55:28,480
so will all the funds raised through the

1600
00:55:26,319 --> 00:55:30,559
crowd loan be used for the auction

1601
00:55:28,480 --> 00:55:32,160
or will the team only bid enough to win

1602
00:55:30,559 --> 00:55:35,680
the auction and ultimately not

1603
00:55:32,160 --> 00:55:36,079
use all the funds um so like betty said

1604
00:55:35,680 --> 00:55:38,400
here

1605
00:55:36,079 --> 00:55:39,760
we can't touch the funds it's a bond for

1606
00:55:38,400 --> 00:55:43,359
the para chain to access

1607
00:55:39,760 --> 00:55:44,799
polka dots network security so

1608
00:55:43,359 --> 00:55:46,720
it's kind of like the analogy that i

1609
00:55:44,799 --> 00:55:49,520
that i said earlier with the

1610
00:55:46,720 --> 00:55:50,400
poker chips like whatever we raise in

1611
00:55:49,520 --> 00:55:53,359
the crowd loan

1612
00:55:50,400 --> 00:55:54,799
goes all in into the into the paratrain

1613
00:55:53,359 --> 00:55:56,640
auction process so

1614
00:55:54,799 --> 00:55:58,240
there's never going to be an excess of

1615
00:55:56,640 --> 00:55:59,920
that that like we would keep

1616
00:55:58,240 --> 00:56:02,240
because first of all we can't touch the

1617
00:55:59,920 --> 00:56:03,839
funds and then second of all everything

1618
00:56:02,240 --> 00:56:04,640
in the crowd loan goes into the auction

1619
00:56:03,839 --> 00:56:07,359
so there won't be

1620
00:56:04,640 --> 00:56:07,359
any excess

1621
00:56:12,000 --> 00:56:16,000
will you integrate the crowdline

1622
00:56:14,480 --> 00:56:19,119
functionality into ledger

1623
00:56:16,000 --> 00:56:21,200
live uh

1624
00:56:19,119 --> 00:56:22,480
not for the first one uh we're working

1625
00:56:21,200 --> 00:56:25,359
with them but it takes

1626
00:56:22,480 --> 00:56:27,359
takes a while uh so unlikely for the

1627
00:56:25,359 --> 00:56:28,559
kusama or carrera auction for the first

1628
00:56:27,359 --> 00:56:32,720
one

1629
00:56:28,559 --> 00:56:32,720
maybe for the later uh auctions yeah

1630
00:56:38,640 --> 00:56:43,359
so yeah some of these i think you've

1631
00:56:41,760 --> 00:56:45,119
answered betty but

1632
00:56:43,359 --> 00:56:47,520
will there be separate crowd loans so

1633
00:56:45,119 --> 00:56:49,520
yes there's a crowd on first for kurora

1634
00:56:47,520 --> 00:56:50,640
for kusama and then there's a crowd loan

1635
00:56:49,520 --> 00:56:54,160
after that

1636
00:56:50,640 --> 00:56:56,400
bora kala on polka dot probably a couple

1637
00:56:54,160 --> 00:56:56,400
months

1638
00:56:56,839 --> 00:56:59,839
later

1639
00:57:01,920 --> 00:57:07,040
um i'm not sure exactly what this means

1640
00:57:06,400 --> 00:57:09,119
so why

1641
00:57:07,040 --> 00:57:10,880
why does akala want to migrate their own

1642
00:57:09,119 --> 00:57:14,000
to their own blockchain

1643
00:57:10,880 --> 00:57:16,319
over time yeah so you can

1644
00:57:14,000 --> 00:57:17,119
think about uh you know polka dot as a

1645
00:57:16,319 --> 00:57:19,280
relay chain

1646
00:57:17,119 --> 00:57:20,960
it kind of uh does its own network

1647
00:57:19,280 --> 00:57:22,880
security right so that's why

1648
00:57:20,960 --> 00:57:24,880
it's where the market cap comes from

1649
00:57:22,880 --> 00:57:26,880
right for a project like us

1650
00:57:24,880 --> 00:57:28,799
like a startup it's very hard to come up

1651
00:57:26,880 --> 00:57:31,839
with like 35 billion from day one

1652
00:57:28,799 --> 00:57:33,520
and then secure ourselves so um so that

1653
00:57:31,839 --> 00:57:34,400
that's why we kind of started as a

1654
00:57:33,520 --> 00:57:37,119
parent chain

1655
00:57:34,400 --> 00:57:38,799
um with polka dot um but you know how

1656
00:57:37,119 --> 00:57:39,680
this whole internet of blockchain is

1657
00:57:38,799 --> 00:57:42,720
going to scale

1658
00:57:39,680 --> 00:57:45,440
is ultimately if we grow into maturity

1659
00:57:42,720 --> 00:57:47,280
and we have enough market cap ourselves

1660
00:57:45,440 --> 00:57:50,319
and then we would like to scale

1661
00:57:47,280 --> 00:57:53,520
uh our financial um sort of

1662
00:57:50,319 --> 00:57:56,319
um our financial universe

1663
00:57:53,520 --> 00:57:57,119
um then we can then graduate uh from

1664
00:57:56,319 --> 00:57:59,440
polkadot

1665
00:57:57,119 --> 00:58:00,160
into our own relay chain right that's

1666
00:57:59,440 --> 00:58:02,319
that's why

1667
00:58:00,160 --> 00:58:03,839
you know the uh we have our own network

1668
00:58:02,319 --> 00:58:05,440
control value our wealth fund

1669
00:58:03,839 --> 00:58:07,119
it's all geared up for that for long

1670
00:58:05,440 --> 00:58:07,440
long term i mean it probably doesn't

1671
00:58:07,119 --> 00:58:09,040
make

1672
00:58:07,440 --> 00:58:11,040
that much sense you know right here

1673
00:58:09,040 --> 00:58:12,960
right now i talk about it but over time

1674
00:58:11,040 --> 00:58:15,119
i think people will figure out you know

1675
00:58:12,960 --> 00:58:15,440
what if we want to graduate and that's

1676
00:58:15,119 --> 00:58:17,839
the

1677
00:58:15,440 --> 00:58:18,960
uh the past that we think is viable so

1678
00:58:17,839 --> 00:58:21,440
once we graduate

1679
00:58:18,960 --> 00:58:23,599
then you can think about us as another

1680
00:58:21,440 --> 00:58:24,960
like a kusama-like relay chain right

1681
00:58:23,599 --> 00:58:26,960
and because there will be bridges

1682
00:58:24,960 --> 00:58:28,880
between kusama polkadot and there will

1683
00:58:26,960 --> 00:58:32,000
also be bridges between polkadot

1684
00:58:28,880 --> 00:58:34,000
and you know akala rayleigh chain um

1685
00:58:32,000 --> 00:58:35,839
with all of its satellite um i guess

1686
00:58:34,000 --> 00:58:38,720
parachutes um

1687
00:58:35,839 --> 00:58:39,599
in in the financial realm still so

1688
00:58:38,720 --> 00:58:42,160
that's how

1689
00:58:39,599 --> 00:58:43,359
you know uh because pogo doesn't gonna

1690
00:58:42,160 --> 00:58:45,599
not gonna stop at

1691
00:58:43,359 --> 00:58:47,040
100 power chains you can imagine the

1692
00:58:45,599 --> 00:58:49,599
world in the future will be

1693
00:58:47,040 --> 00:58:50,640
tens of thousands of blockchains um and

1694
00:58:49,599 --> 00:58:53,119
that's why

1695
00:58:50,640 --> 00:58:54,000
um you know that that's how it it will

1696
00:58:53,119 --> 00:58:56,799
actually evolve

1697
00:58:54,000 --> 00:58:57,280
uh but but that's more of a longer term

1698
00:58:56,799 --> 00:59:00,960
plan

1699
00:58:57,280 --> 00:59:04,240
yeah i'm just showing a

1700
00:59:00,960 --> 00:59:05,920
quick image that i made last year

1701
00:59:04,240 --> 00:59:08,480
so this is actually kind of what betty

1702
00:59:05,920 --> 00:59:10,880
was talking about so

1703
00:59:08,480 --> 00:59:13,599
this is like i think what gavin's called

1704
00:59:10,880 --> 00:59:16,000
polka dot 2.0 maybe it's beyond that but

1705
00:59:13,599 --> 00:59:18,079
it's essentially like relay chains

1706
00:59:16,000 --> 00:59:20,240
within relay chains or relay chains

1707
00:59:18,079 --> 00:59:21,760
nested within the core polka dot relay

1708
00:59:20,240 --> 00:59:23,839
chain so

1709
00:59:21,760 --> 00:59:25,440
in betty's example with akala becoming a

1710
00:59:23,839 --> 00:59:27,520
relay chain in the future we would be

1711
00:59:25,440 --> 00:59:29,119
something like this where we plug into

1712
00:59:27,520 --> 00:59:31,119
polka dot as a

1713
00:59:29,119 --> 00:59:32,559
as a like into one of these slots but

1714
00:59:31,119 --> 00:59:33,920
what we're actually plugging in is an

1715
00:59:32,559 --> 00:59:37,200
entire multi-chain

1716
00:59:33,920 --> 00:59:40,480
ecosystem for akala so

1717
00:59:37,200 --> 00:59:43,119
this this is definitely not any official

1718
00:59:40,480 --> 00:59:44,240
graphic i just made it for fun to see

1719
00:59:43,119 --> 00:59:46,079
what it would look like

1720
00:59:44,240 --> 00:59:49,440
but this is this is kind of helpful to

1721
00:59:46,079 --> 00:59:52,240
see what um this like multi-relay chain

1722
00:59:49,440 --> 00:59:52,240
world would look like

1723
00:59:53,520 --> 00:59:57,280
uh yeah i think i think someone also

1724
00:59:55,040 --> 00:59:58,480
asking like uh timing itself uh folks

1725
00:59:57,280 --> 01:00:00,240
are a bit confused so

1726
00:59:58,480 --> 01:00:02,480
it's not like this is happening tomorrow

1727
01:00:00,240 --> 01:00:04,880
right uh the reason we are doing this

1728
01:00:02,480 --> 01:00:06,799
is because it is very confusing um and

1729
01:00:04,880 --> 01:00:08,799
it's a very new concept right people are

1730
01:00:06,799 --> 01:00:11,680
familiar with ico you farming

1731
01:00:08,799 --> 01:00:12,079
but not quite perishing auction um and

1732
01:00:11,680 --> 01:00:14,240
and

1733
01:00:12,079 --> 01:00:15,839
and bootstrapping a network this way so

1734
01:00:14,240 --> 01:00:17,200
that's why we're doing this so it's not

1735
01:00:15,839 --> 01:00:20,640
like it's starting tomorrow

1736
01:00:17,200 --> 01:00:22,880
so um usually if you are staking ksm

1737
01:00:20,640 --> 01:00:24,400
uh there's a seven day unbounding period

1738
01:00:22,880 --> 01:00:27,200
right so we'll at least

1739
01:00:24,400 --> 01:00:29,200
tell you uh one or two weeks before well

1740
01:00:27,200 --> 01:00:31,760
we actually tell you as soon as we know

1741
01:00:29,200 --> 01:00:32,559
uh from poke dog or kusama when it's

1742
01:00:31,760 --> 01:00:34,799
happening so

1743
01:00:32,559 --> 01:00:36,559
like you know don't panic you can still

1744
01:00:34,799 --> 01:00:43,280
stake and earn return

1745
01:00:36,559 --> 01:00:46,079
and i will tell you at the first yeah

1746
01:00:43,280 --> 01:00:46,960
all right so i think we're three minutes

1747
01:00:46,079 --> 01:00:49,280
over the hour

1748
01:00:46,960 --> 01:00:51,440
um maybe we can take just a couple more

1749
01:00:49,280 --> 01:00:53,680
questions

1750
01:00:51,440 --> 01:00:53,680
um

1751
01:00:54,880 --> 01:00:59,920
yeah a lot of these are about timing and

1752
01:00:56,480 --> 01:00:59,920
betty just answered that so

1753
01:01:08,799 --> 01:01:15,440
oh here's a good question okay um

1754
01:01:12,240 --> 01:01:17,680
bart asked let's say a crowd loan loses

1755
01:01:15,440 --> 01:01:19,280
the auction or let's say a team loses

1756
01:01:17,680 --> 01:01:22,400
the auction

1757
01:01:19,280 --> 01:01:24,160
um how are we going to get our tokens

1758
01:01:22,400 --> 01:01:25,119
back as far as i know polka dot and

1759
01:01:24,160 --> 01:01:30,480
kusama aren't

1760
01:01:25,119 --> 01:01:34,160
smart contract capable yet etc etc

1761
01:01:30,480 --> 01:01:36,720
um so i don't know buddy do you want to

1762
01:01:34,160 --> 01:01:39,040
start that one and then

1763
01:01:36,720 --> 01:01:39,760
uh so our list of questions i can i can

1764
01:01:39,040 --> 01:01:43,040
start so

1765
01:01:39,760 --> 01:01:43,040
he's basically asking um

1766
01:01:43,599 --> 01:01:47,920
let's so what happens if if your team

1767
01:01:46,079 --> 01:01:49,839
loses the auction so

1768
01:01:47,920 --> 01:01:51,520
i mentioned before that these auctions

1769
01:01:49,839 --> 01:01:52,960
will happen every two weeks

1770
01:01:51,520 --> 01:01:54,880
is what worked that's what polka dot

1771
01:01:52,960 --> 01:01:57,119
said so we're expecting at this point

1772
01:01:54,880 --> 01:02:00,160
the same to happen for kusama

1773
01:01:57,119 --> 01:02:02,000
so if we weren't to win or if any team

1774
01:02:00,160 --> 01:02:04,079
weren't to win the first one

1775
01:02:02,000 --> 01:02:05,039
they could actually take that crowd loan

1776
01:02:04,079 --> 01:02:07,119
that they that they

1777
01:02:05,039 --> 01:02:08,720
collected from their community and roll

1778
01:02:07,119 --> 01:02:09,839
that into the next one just a couple

1779
01:02:08,720 --> 01:02:12,960
weeks later

1780
01:02:09,839 --> 01:02:14,319
um so just be on a lookout for kind of

1781
01:02:12,960 --> 01:02:16,000
language around this because

1782
01:02:14,319 --> 01:02:18,079
whatever pair chain you're supporting

1783
01:02:16,000 --> 01:02:20,480
will probably let you know like

1784
01:02:18,079 --> 01:02:21,200
the funds will be locked for x amount of

1785
01:02:20,480 --> 01:02:23,520
time

1786
01:02:21,200 --> 01:02:24,480
um that allows them to use it for not

1787
01:02:23,520 --> 01:02:26,160
only one cr

1788
01:02:24,480 --> 01:02:28,160
not only one parachain auction but

1789
01:02:26,160 --> 01:02:29,520
potentially if they need to participate

1790
01:02:28,160 --> 01:02:35,520
in two or three to get the

1791
01:02:29,520 --> 01:02:37,839
auction then they can

1792
01:02:35,520 --> 01:02:37,839
okay

1793
01:02:44,960 --> 01:02:52,079
when moon

1794
01:02:49,680 --> 01:02:52,079
um

1795
01:02:55,280 --> 01:03:00,319
okay i think we're kind of

1796
01:02:58,400 --> 01:03:01,520
we're good there's a lot of questions

1797
01:03:00,319 --> 01:03:03,119
i'll check and see if there's anything

1798
01:03:01,520 --> 01:03:05,920
else that

1799
01:03:03,119 --> 01:03:07,440
um that are kind of big questions and

1800
01:03:05,920 --> 01:03:10,720
and i can always try to follow up

1801
01:03:07,440 --> 01:03:13,440
in an email if if you guys need

1802
01:03:10,720 --> 01:03:14,240
but let's just wrap it up so just to

1803
01:03:13,440 --> 01:03:16,000
summarize

1804
01:03:14,240 --> 01:03:18,160
um hopefully you learned something new

1805
01:03:16,000 --> 01:03:20,000
let's check the poll actually

1806
01:03:18,160 --> 01:03:22,079
okay good it's it's better than it was

1807
01:03:20,000 --> 01:03:25,119
at the beginning so

1808
01:03:22,079 --> 01:03:25,920
66 people still have no clue so uh let's

1809
01:03:25,119 --> 01:03:29,119
try it again

1810
01:03:25,920 --> 01:03:30,640
next week i guess next week we are going

1811
01:03:29,119 --> 01:03:32,480
to be doing a

1812
01:03:30,640 --> 01:03:34,240
a little bit of a presentation more

1813
01:03:32,480 --> 01:03:37,280
specifically to carrera

1814
01:03:34,240 --> 01:03:39,039
um so talk showing a demo of the the

1815
01:03:37,280 --> 01:03:40,640
defy applications that we'll be able to

1816
01:03:39,039 --> 01:03:42,720
use um ksm

1817
01:03:40,640 --> 01:03:44,880
and kusd and our decks and all that

1818
01:03:42,720 --> 01:03:46,319
stuff um

1819
01:03:44,880 --> 01:03:48,079
so we'll talk more a little bit more

1820
01:03:46,319 --> 01:03:50,079
about crowd loans next week um

1821
01:03:48,079 --> 01:03:51,599
hopefully today you learned a little bit

1822
01:03:50,079 --> 01:03:52,960
about polka dot and kusama that you

1823
01:03:51,599 --> 01:03:55,599
didn't know before

1824
01:03:52,960 --> 01:03:57,280
um i also hope that you learned about

1825
01:03:55,599 --> 01:03:57,920
crowd loans and parachain auctions and

1826
01:03:57,280 --> 01:03:59,599
are

1827
01:03:57,920 --> 01:04:01,520
hopefully as excited as i am for this

1828
01:03:59,599 --> 01:04:03,599
all to start it's kind of like

1829
01:04:01,520 --> 01:04:05,680
um we're coming up upon something that's

1830
01:04:03,599 --> 01:04:08,000
brand new for the whole industry and

1831
01:04:05,680 --> 01:04:09,359
um i think it's great to show polka dot

1832
01:04:08,000 --> 01:04:11,599
and kusama's leadership

1833
01:04:09,359 --> 01:04:12,400
broadly in bringing this new ethical

1834
01:04:11,599 --> 01:04:14,400
model

1835
01:04:12,400 --> 01:04:15,520
um to how to actually bootstrap these

1836
01:04:14,400 --> 01:04:17,119
projects

1837
01:04:15,520 --> 01:04:18,799
um and yeah betty and i really

1838
01:04:17,119 --> 01:04:20,640
appreciate the time hopefully you

1839
01:04:18,799 --> 01:04:22,720
enjoyed learning a little bit about

1840
01:04:20,640 --> 01:04:26,319
karura and akala as well and

1841
01:04:22,720 --> 01:04:28,400
um please be on be on the lookout for

1842
01:04:26,319 --> 01:04:29,839
kind of communications from us join our

1843
01:04:28,400 --> 01:04:30,720
channels i think the newsletter is

1844
01:04:29,839 --> 01:04:32,880
probably going to become

1845
01:04:30,720 --> 01:04:33,920
soon one of the more important channels

1846
01:04:32,880 --> 01:04:36,240
to be a part of

1847
01:04:33,920 --> 01:04:36,960
um just to keep up with like the most

1848
01:04:36,240 --> 01:04:39,200
important

1849
01:04:36,960 --> 01:04:40,400
um updates so be sure to follow our

1850
01:04:39,200 --> 01:04:42,559
newsletter

1851
01:04:40,400 --> 01:04:44,160
and i wish we should lick some alpha

1852
01:04:42,559 --> 01:04:48,079
then

1853
01:04:44,160 --> 01:04:48,799
go for it um so yeah so do subscribe to

1854
01:04:48,079 --> 01:04:51,200
our newsletter

1855
01:04:48,799 --> 01:04:51,839
there will be some some cool stuff

1856
01:04:51,200 --> 01:04:53,920
coming

1857
01:04:51,839 --> 01:04:55,359
next week and then i don't think you

1858
01:04:53,920 --> 01:04:56,880
want to miss that one if you

1859
01:04:55,359 --> 01:04:59,359
i think our waitlist already closed

1860
01:04:56,880 --> 01:05:01,760
right then um but

1861
01:04:59,359 --> 01:05:03,359
yeah it doesn't mean you can't get on to

1862
01:05:01,760 --> 01:05:04,400
korra because it's an open one everyone

1863
01:05:03,359 --> 01:05:06,079
can participate

1864
01:05:04,400 --> 01:05:08,400
so there will be something out next week

1865
01:05:06,079 --> 01:05:10,400
um so just like stay tuned

1866
01:05:08,400 --> 01:05:11,599
yeah follow the follow the newsletter is

1867
01:05:10,400 --> 01:05:15,680
what betty says it's

1868
01:05:11,599 --> 01:05:18,000
it's important so all right cool let's

1869
01:05:15,680 --> 01:05:20,319
let's close it thanks everybody have a

1870
01:05:18,000 --> 01:05:20,319
good day