Kevin Rose in his guests are not registered investment. Advisors. All opinions are Kevin's and his guests alone. Nothing discussed. Today should be relied upon for investment decisions. Nor is it investment advice? This show is solely for information and entertainment purposes. Only. Please work directly with an investment, professional everyone.
Welcome to consensus. This is your bi-weekly crypto and
nft variety show. I am thrilled to be back with a couple colleagues and Friends. John O'Connell. Who's an associate at true Ventures. Welcome
John. Hey, how's it going? Everyone?
Good to have you man, and we'll explain kind of our connection there. And then also, of course Faye is, is back on the show. After having a new baby Faye has. It is so good. To have you back, man, you how you holding up. Thanks, man. It's good to be back. I am working currently on about four hours of sleep. So, if I am talking gibberish, you know, why? Totally
I get it man. You're in
the very early days of all the chaos. So I'm glad that you could join us. Glad you had a few weeks. To, how's your little one? Now, I have five weeks now to dive weeks and saying that's so awesome. Congrats again. All right, so let's get into it. I'll first we should talk about Liz link. You guys up your at Fresh Faye on Twitter. John. Where what do you on Twitter?
Yeah, John Jo H and P O'Connell o co NN B LL. So double n, oo.
Awesome, so we could you better Twitter handle. That's not yeah, we're gonna work on something like that. One Degen like feeling the John to just to get people's back on. They know of fastest has been on previous shows. You work with me, true Ventures. I would say, if I had to describe what you do. I would say that you are, the person that is so deep on the cryptocurrency side, understanding where the world is going helping us analyze. New protocols doing write-ups, like detailed write-up surround these protocols and
Presenting the information back to the team closing deals. I mean, you kind of wear so many different hats within true. Am I missing anything there
now? I think that's it. You've given like the broader audience context untrue, but, you know, we're definitely a thought of as, like, a early stage Venture fund. I work on the investment team there but are very, very deep in the crypto world. It's making up. Let's say a large or larger percentage of our business. Both on early stage Investments, as well as with later stage with their stage Investments as well, too. So,
yeah, and it's always
I love when we go out and talk about cryptic because the reason you're here today is like you're in town for this aetherium conference that's going on in Portland, Oregon and we were out having a grabbing a beer last night because I was, I'm in Portland and we start talking about some some crazy stuff that you are into. That is like very new and very raw and so I said, hey come on the show. Let's talk about this, this insane thing. So you're going to be doing some opening. A lot of people's eyes today, which I'm very excited
for. I hope so.
Yeah, thanks for having me on and it's good hanging out with you both
awesome. So, let's get into it. I'll start off with the first story just because it's everyone's talking about it. I mean, two things. One ethereum is hit another all-time high, you know, it's dropped down a bit since it hit the high here. Just well, actually it's a backup now. Okay, so we're at over 4400 USD per East which is just nuts. The number one burner, you know, is she being a coin, so it should be, you know, is
RC 20 coin. It is been growing like crazy and taking on overtaking Dogecoin and the reason why so many people well, I would say the reason it really hit obviously the the growth is always going to grab some attention and headlines, but there was a story that came out that said someone had invested a little over three Grands. What was that about a year ago and now has paper wealth of one point what was 1.5 billion? It was just insane did either.
You by She be no
coin. Is that is that account? One of yours he has known you,
I wish I wish, man. It's I wish I was DJing enough. I always thought of myself of being a true Degen tape and taping into different projects, but I'm not a p enough to have gotten into Shiba Inu. Unfortunately, what about you? John?
Gosh, you know, it's so funny. It's like when you think you're in Dijon, like there's always just another layer to go. I like to think of Sheba.
Like the, I don't know, you all know, like, the intelligence scale meme, like, what's like the bell curve? And like, the person who's angry and the middle and then like the Jedi on one end and then like, the the ape on the other end. Like, I used to get angry at people, who'd make a lot of money, like I'm dog-related meme coins, but like what I'm realizing, they just might be more detail than I have. So like, no, do not buy any unfortunately, but I'm happy and excited for those who did and it's just, I think it's a testament to the power.
This well mean culture in the internet and like how crowds can just like move these assets all in. Once it's crazy.
It is crazy. It's one of those things where initially I had this kind of gut reaction and I've said this before in previous shows where I think about these meme coins and I always worry about them because ultimately if things go the other direction, someone's left holding the bags, and oftentimes, it's individuals that are you know, getting in because somebody else hyped it up.
Up, they put in some money. Hopefully something that they can afford to lose but oftentimes not and then things go crashing down because the crowd moves on to the next meme coin and it's a sad State of Affairs for some people that really lose a lot. So the the issue I have with these coins is just that there's no real, I have yet to see and correct me if I'm wrong here. But, you know, especially with Doge Doge was kind of like this coin where, you know,
I've had Jackson Palmer, the founder on the show many, many, many years ago, like 10 years ago or whatever. It was. It was quite a while at this point. Not this show but a show I did called Foundation that I interviewed him about creating dowshen, you know, it was it all very much started off as just kind of like something fun and it was just a fun little joke and it was a great way to tip people and things of that nature. But then the project pretty much lied dormant outside of little tiny bug fixes and things of that nature, so,
It wasn't like as a technologist. I could point to that product and say, oh they're doing really Innovative things here. This is why I should own the coin, which is something a massive big check box for me. Whenever I think about owning a cryptocurrency. What is it doing? This new and unique and novel and that is worth holding and that will that in
that underlying
value, that is being created by the usefulness, and utility of the token will, hopefully prop up the and sustain the price.
Time because there is a real reason to use it outside of it. Just being a meme. Now that said
it's it's like it's a
head-scratcher where I'm like, okay.
Well maybe a meme is a utility. Maybe the utility is
the fact that it brings communities together. They give people something to talk about something do rally behind. Maybe it's more like a sports franchise, where it's a game. Yes, but it's like this is my team and
that's kind
of what I've been thinking about lately, it.
My am I crazy. What are y'all thinking? John you go,
first. I was going to say yeah, it's going to take a pin. You have like a lot of you know, that there's like a lot of the the middle of the bell curve questions are like value, whatever else. Like that's something like that is. All those questions are like the right questions to ask and like, you know, you're right about all of them, but then like sometimes like what you have to understand is like the mentality, sometimes, the simple analysis of. Wow, A lot of people are talking about this, like, let's Fe Maybin. Looks like some
That's, that's good enough. And if that's someone strategy, you know, the question is, do you know the right time to sell? You? Will this the whole thing? Good enough for what, right, like, good
enough for, for gains. Yes, good enough to make double or triple your money. Yes,
but I think that we have to be.
Well, there's I get it if I was if I was in my, you know, teens or 20s or whatever, I would probably be doing this and just flip in it and just like having fun and being wild and this is beer money. This is whatever, right? And that's, that's the game.
Game, I think some are playing. I worry when others are not playing that game that playing the more serious game and you know, that's the one I
think. I think you know, I don't know some sense of like there's
nothing wrong with is you're having fun. If this is like going to Vegas for you and it's a good time and you know, you're not doing any harm and it keeps you getting kids excited about cryptocurrency and turns new people on to figuring out wallets and all the other stuff you have to do. Like, I don't see any harm in that but I just think we have to educate.
The public and tell them, they have to know that this is going to be on the more volatile side of things. When you're talking about crypto and crypto is already a crazy as a class to begin with phase. What do you think one theory that I read? And I kind of agree with that is that and it was more about Dogecoin rather than she but you know what I think similar pattern applies for Shiba Inu as well. Was that mean coins? Such as Dogecoin and Shiba Inu? Have this common enemy of Wall Street, so
The the old industry, the old Financial system that has always taken out money from the pockets of the small guy. And now we have this crazy meme coin and the whole movement started with the idea of GameStop and AMC and going totally against the grain. And with that kind of starting this crazy movement of yeah, we can hype something up, watch us and we will even make money with it as well. And I think this theory, if you have this one, common enemy,
Sheba's case, it may be. It is Dogecoin. Maybe it is Wall Street, and Dodge corner. I'm not completely sure. But it is interesting to me that it is not just or not. Just the 20-something people or people in their teens are investing into stuff like she but, you know, I know a friend of a friend. He's like 40 years old has a job and and is working and it has a good well-paying, jobs and injury. Talk about me.
I'm checking all these boxes. As you described here. Keep going. And if you
have turn
And the 700 bucks into 2.2 million. Then I'm talking about you. Definitely. That would be amazing because this guy invested into Shiba Inu at the beginning of the year because he read on Reddit about it and this to me is super crazy because I am not spending my time. Browsing ready to find the next meme coin. I'm trying to analyze projects in order to in order to invest into something that has a bit more fundamental value. Let's say sure, to be honest, what I do tell my community sometimes is if you if you
You really want to invest into a meme coin, then just make sure that your base is covered in terms of portfolio. Like if you if you want to invest into crypto don't start with a meme coin, but if your base is covered in like 80 or 90 percent of your portfolio is in more or less safe and safe. Of course, with the disclaimer that crypto is super volatile, then spent that five ten percent of your portfolio and throw it into a meme coin, like, give that fomo a bit of an of an Avenue and, and just invest into that into that.
Small mean coin. Maybe it turns out to be a great investment. I really doubt it, especially people coming into the market right now, but if it crashes and burns at least you didn't mess up your entire portfolio. Yeah. Well, it's crazy. It's fun to watch. You know, II look back and kind of laugh and I just consider it, it's entertainment. You know, I kind of put it that lens on this whole thing, but I do believe it's it's not something I can say in John, you know.
As well. Like we would never go and Pitch to invest in a Min coin at true Ventures,
right? Not get ahold now those assets in it, but it's something where it's
becoming its own classification of a type of coin. And I think it's here to stay. It's like it's one of those things where in some ways Shiba Inu is kind of like the board Apes to crypto Punk's, like it was an alternative something that was, you know, people felt like they missed the first wave and now, this is the next wave coming. So yeah, it'll be fun to watch. Let's
Let's move on to some other stories though, you know, a couple things. I want to mention real quick on the we don't have a lot of nft news today, but I did want to unless you all have something you want to cover. But I did want to mention an FDNY see which is a massive conference is happening. Like, I don't know how many passes they sold or how many there's like, a thousand speakers or something, which I don't even know. Just take Li how you pull off. Like, I don't know what the floor plan looks like for this conference, but in FDNY see it's going to be a little bit of a shit show, but it's going to be fun.
So I'm heading out to New York, John you're heading out there as well. We're going to be out there. I'm mostly going to be out there kind of just meeting coffees and other artists and doing many copies, but meeting for coffees and hang with artists and doing some dinners and whatnot. But it's going to be a really fun event. I'll have a lot of news and other things to talk about. Once we get back from that conference. One thing that is worth mentioning, that is launching during the conference is a new platform called Quantum art and I have had just nervous. I know on the show before
Justin, I would say was one of the early kind of pioneers in bringing a photography. And if he's to Market in a big way in a way that was about a curated drop in a project. He had called twin flames. We talked about that on his podcast. He decided to launch a new platform called Quantum. Our Quantum art is essentially the best, kind of way to think about it is is almost like art blocks for photography and FTS. So he's going to go out and create and work with various artists, they're going to do.
Weakly drops. The first one is dropping November 2nd and it is going to be a pretty awesome one. So this is something where you go in, you get a minting pass ahead of time. And then the first drop is 377 photography and have teased by Amy Elkins and Amy did a series of 377 photos, which is three hundred seventy seven consecutive days from the day that the lockdown started until receiving her covid vaccine. She took a self-portrait and there are these
He's beautiful kind of blue washed photos that are just a lot of fun, the minting passes. I was able to pick up a couple on the secondary for one eith apiece. So they're not. Well the Presbyterians just been going up like crazy. So they're not that cheap. But this is certainly the first project to launch on Quantum. If quantum, as I believe is becomes a pretty powerful platform for photography and at ease, then the first project obviously is going to
Always be looked at as something special. So it's one that's a drop that I'm paying attention to. You can buy, this will come out on Friday, October 29th. So you will be able to buy a minting pass at Open Sea. Can't guarantee what the prices are going to be at. Seen him, go all over the place up as high as to eat and back down again. So yeah, if you're interested in this drop by Quantum are definitely want to check out if not, they're doing weekly drops. So they have another one coming. Actually. They have to one coming on November 3rd, so, right.
After the first one and then on the 4th and then on the 11th, so a bunch of different projects on the photo and of T side, which I think is just a massive space. That is going to continue to blow up and be a big important vertical inside. The nft market, you know, photography and FTS. I've talked to a bunch of folks dowser forming around them. There's a, you know, one we've talked about on the show before called The Raw - wow, robbing that raw image format and it's just a really exciting exciting new sector in
Adams in a teal and so thoughts on that John. Yeah. I know you've talked to the Joan is one of the founders about this.
Yeah. Yeah. Jonas is the best. Yeah. I'm super excited. I'm excited. Yeah. I'm excited for it to roll out. I think quantum's like I think an early example of like, call it our
quacks, derivatives already popping up. Like I know there are I'm sure I've seen a
couple of other projects out there that are going to try to, you know, to do the similar like MIT style release of the N of T. So excited to this one roll out.
And it's just a great team behind the project. So, super pumped for Jonas and Justin photography
interest from people. I know not from. So, Justin's pieces. I've seen, I think through you, and they're really nice. And I'm trying to get into more photography and if T's and it's a difficult space because most of the time, the stuff you find out that has a certain hype, but also looks really nice is already super expensive. So it's interesting to kind of find the gems that are that are hidden. Let's say,
yeah, it is going to be. This is what
the
So
photography, and if he's like, I'll give
you an example. Justin's twin flames to your point, phase about them being really expensive. His twin flames collection, who has been, it's been featured at Sotheby's now, so it's kind of obviously blown up, hundred and ninety. Eith is the floor. So eight hundred and some thousand USD for one photography. N of T.
The the thing that is is going to be crazy. Is they are a lot.
There's a massive back catalog of, you know, obviously people that are into photography that have
Offal collections that they can put them on
the blockchain. So there's going to be a discovery issue. I like what Quantum is doing is they're saying, let us be the kind of curator of these collections so we can cut out a lot of the Clutter because if you just go and you were to browse open sea and just look through photography and empties its kind of doable now, but it's getting really packed and you can imagine, you know, a year from now. There's just going to be, you know, hundreds of thousands of different artists on. How are you going to find one? That's worthwhile to
To collect and obviously you can do it. Aesthetically. You can look at things and say it's beautiful. I should own it. But you also kind of want at least, I want to be to tell the difference between somebody that is a second-year art school student. And maybe that is the person to back early on maybe that is a more like the angel investment, but I want to be able to find who are the artist, because I don't know the photography world that well, like, who they are, is that I should be paying attention to that have already built up a reputation that, you know, so I look towards the kind of experts, right? And so,
Oh, Justin, certainly next for the team has put together in the creation board is going to be great to kind of filter through that. So, you know, I think we're going to need these types of filtration systems as more entities not just in photography, but in everything come online to kind of look towards and say, they're helping inform me so that I'm making better decisions. Is it? That makes sense? Absolutely. And I'm just browsing opens here right now and I'm seeing mint passes for Quantum art. Are these legit?
Are these scams potentially? Yeah, because it's not very fide yet. So yeah, the website is quantum dot art and in the upper left-hand corner, I believe. They have a yeah, there's a mint pass. It says click here to Mint and then they I don't know that they link to open see there. That is a great question. You know, what I'll do is in the show notes for this one. I will put a link to the actual moment passes, so that you make sure you're getting the right ones. Not to say that there's any scams out there yet, but there could be. So.
Let's, let's make sure that that there are correct. So I'll make sure to link that up. But it's probably the one you're looking at. I can't imagine although I've been fooled before, so maybe gives up their awesome. So let's jump into some other news. That is not by me. I say what have you found? So the defy World obviously, and I'm sure John will mention some stuff as well is is been going really interesting Lee well and interesting stuff is happening on different platforms. One of the things when we
Talking about mint passes, and participating in specific, releases and ideals. And so, on is something that I'm looking at is Thor starter, which is an idea or a launch pad for the third chain ecosystem. And the cool thing about it is that there is an upcoming launch. So an upcoming idea and an idea is an initial text offering forth or swap. NOW, Thor swap for the people who haven't used Thor, chain is essentially just an interface to interact with Thor chain.
And the cool thing about it is that they will release a token
that will give you
cheaper trading fees. But also parts of the swapping fees that people are using on. So swamp and it's not a big race. It's about 750 K. But there is a Max cap of three hundred US dollars per person. So you have to be fast and I'm believing that these will sell out fast, but I also think that the Thor token, which is then the token you would get for those three hundred US dollars.
Length is quite valuable because Thor swap is one of the biggest at the interfaces for Thor chain. I know Kevin. You use Thor chain as well. Is that the platform you used for, for interacting with torching? I'll let John cover this one because John has led up a lot of our Thor Investments along with Adam at true Ventures. John. Do you want to get people kind of an overview of what we've done at true? And,
and by the way, we did not plan this.
I know we have a lot of Thor Investments that true, but Fate has brought this up on his own, but John, did you want to see?
The ladle and yeah, full
disclaimer. We are seeing investors in both Thor, starter as well as Thor swap as so. We're already investors and both of
those teams
and those teams are listening. What's up? But,
yeah, I mean, we have been
deep in the Thornton because super quite some time. Now. We are LED there by a couple of
trusted, Founders that we've worked with, for some time. And I think now, are probably invested
in north of one of every two projects in the
third chain ecosystem, and I think it just
Falls back to
our will be a sort of seen, you
know, her looking for a layer one or a layer. One block chain, that connects all the other block chains together, right? So and I think just if you have a simple Bitcoin to ethereum world, we were easy, both of those assets winning that Thor chain. Thus, far seems to be the best solution to be able to bridge those two block chains and those two assets together with different types of derivatives. So yeah, I'm excited that you're excited about it
as very cool. Yeah. Full disclosure and disclaimer. I absolutely
He didn't know that you guys were invested in this, but I think it just is another approved sign of approval in my opinion, that this is something cool that people can participate. Obviously the the idea is open for everyone who holds these acts room tokens. And if you want to participate, I think it is beginning of November. So, second or third nif, November or even first November that this ideal is coming up. So if you guys want to check it out, we will definitely link it up. Yeah, quick question for you, John.
I'm saying this not knowing it at all because people that are listening to have to understand it. True Ventures, where we both work. We see so many different projects that and I'm so in a steel and these days I have a really hard time like seeing and talking to everyone. Like there will be quite a few crypto Investments that we do the, I never chat with that. You know, John you go out and who you work with Adam on our team and you guys will lay it all out there. We'll talk about it at our kind of, you know, all hands group meeting and then we'll do the investment and I'll have never met the team. I'm curious on
On, on the Thor side, on the Thor starter. What was it? That was that Adams? That was the one that Adam brought him that you brought in John.
When. Yeah, that was one. That Adam and I worked on together, which, by the way Adam dog, Ellie, if you're listening love you mad. Kevin, you could say, he's the best, we both know, he's the best but
it's fantastic investor for sure. Yeah. So I mean for
starters are, you know, our
well, I think there's two things that are interesting to want to know about it. So X through in which is the native asset of floor starter is
Focus on bringing additional
liquidity throughout the Thornton ecosystem. So it'll pair with any other ERC, 20 asset or any. Any other asset that wants to access, you know, tooth or chains look across chain liquidity. So you can imagine
X room
paired with call it maybe you and your sushi or some of the other major, you know, defy tokens on Yuna swap. So like actually on ethereum and then X room would be paired with Rune which is rooms
native asset, but then
Like
basically, allowing all these different tokens on different L ones to connect to Thor. Chains, cross chain swamp capabilities, which is super exciting. So that in and of itself is exciting, but then with, you know, Thor started. They're also just becoming sort of the Gateway for a bunch of cool projects. Not only in the authority because this time but also I know they have a couple Tara ones that are coming up as well to that are exciting, but at the help give a broader public access to some of the more exciting projects throughout the quickly because system
Curious Johnny could you describe briefly? Like for people that are like, okay, you're saying a lot of things around Thor. I've never heard of this before. Maybe I've heard of it mentioned on the show a few times previously. What is the promise? Like the true promise? Because when you say connect blockchains together, like there's a, there's been a bunch of different, pretty high-profile projects that have set out to do that in some sense. What is unique about Thor chain? And like what's the promise that has gotten you excited? Yeah, so Thor
Train to me.
It's a, it's a fully decentralized non-custodial, cross chain swap platform. So like the simplest way of understanding. This is like, say you have like your own Bitcoin wallet, whether it's in a browser or, you know, on a hardware device. And then you have a metal massacre in aetherium wallet, you would be able to connect to both wallets, and then do a direct etherium to bitcoin swap without having to go through a centralized intermediary, like coinbase. So like as the market exists there before Thor chain, there is no way.
Of trading call it assets on different block chains,
without going to the set like
going to coinbase are going to finance or
going to a centralized going to a centralized exchange to be able to
those assets with door chain, you're able to connect sort of all years of Waltz together in different blockchains than be able to trade assets without essential as intermediary. That's my understanding fans. I don't know. Do you have a different take or like I guess what makes you excited about the ecosystem?
To Be Honest John. I have only one question about torching. Can I change my Sheba in with their? That's the big question? Yeah.
I don't know that but that is the most
Important question
today, is it it, right? That's a good question. Whether they actually have, I mean you could definitely go into to eat and then out you do use use anything else like Macho or something else, or one inch to go to go and achieve it. But one of the things that's, I think that thought we should mention tooth or chain has they haven't officially launch launched, right? We're still a few months off because they had a pretty big bug or a couple bugs that brought them down there a while back. And so they kind of reshuffled and got their their security priorities.
Now, so that they were going to hopefully avoid that in the past. Do you know, any updates there?
Yeah, you know, my understanding. So I believe like ethereum trading. If it's not like I'm already at will be back soon. But yeah, the team or the the protocol had a series of major packs called a few months ago and I'm like shut down by back into into beta and you know, focused really on the security piece, but I imagine we'll be back fully operational again. Hopefully the next few months ago.
I think I think that the theorem chain is already life again, so
I think all the chains are backed back live again. And I think they're even talking about the cap raised as well, that that will happen. I think in the coming week, so it's definitely people are using the platform. People are providing liquidity on the platform and I think and and Kevin to 2 or John. Sorry to answer your question from before with jokes aside. What makes what makes store chain. So, I think interesting is we have seen what happened with uni swap with the SEC, a couple of months ago, where the SEC knocked on.
Eunice weblab store and just ask them to remove specific tokens. And with this whole decentralisation aspect, there comes obviously some regulatory issues and the beauty of Thor chain is that they wouldn't face those regulatory issues because it's completely decentralized. And the team is as far as I know. Also completely Anonymous. So this opens up a very interesting perspective for people who just want to trade completely decentralized. Yeah. It is an issue that I
personally run into before, you know, my problem that I had I remember this was probably six months ago or so. I was trying to use crack in the centralized exchange to just get some of my cryptocurrency out of there and it would happen to be what when the whole crazy Dogecoin thing was going down there was trying to buy Doge and it was one of the only places that offer Doge and the exchange was down. And I'm sitting there thinking like, how am I going to get this out? But I needed to do a transfer.
I think it was from BTC to something else or I was trying to get out of one corner to another and do it a transfer inside of that exchange. And I was just like this is chaos. This is chaos that I can't do this in a fully decentralized way. That is not going to break under load and I just love this idea that you don't have to worry about, you know, if there's a coin that you see and you say to yourself, like gosh, I want to get into that. You're like, wait a second. That's not on point base. Okay. Well, where do I go? Oh, it's on.
It's on cracking or it's on, you know, ft x or something like that. You don't have to think to yourself. Oh, no, I have to go through a five-day process of kyc and setting up a new account and verifying my bank account. And all those things that we've all had to do
those days will be gone. You'll just be
able to go to Thor and say, actually just give me that asset. Here's one asset. Give me another one and that that will be a beautiful thing. So, yeah, Mike, I'm excited for us. That's what kind of got me pumped up. When we first started talking about doing this investment gosh.
Then it's been quite a while John since we did these these Investments. It's what if beginning this year, something I guess.
Yeah, it's been yeah, it's definitely been a while. So it's been awesome to see the team and, you know, the broader Community, really rallied behind the project and and keep pushing out new cool things. Cool. Well, glad we have
the transfers of their awesome Jefe. Has he brought that up on into the table. We also agree. It's very cool. Let's talk about kind of what you got me excited about with with Olympus and three, three. There's this is this has been chaos because
I tweeted Out 3 comma 3 yesterday, and the internet went crazy, and it's all because of you John. So I wanted to have you on to talk about Olympus Dow and what's going on there and and obviously other things as well, but I would love for you to touch on that and tell people, what is this? 3 comma 3. What is Olympus - how can you give us a some
background there?
Yeah, and I'm laughing Kevin because I told you that I was exactly what was going to happen if he tweeted that and I was like or shouldn't do that and then I should have known. Also by me saying, you shouldn't do that that you are a hundred percent going to do that. And it looks like a bunch of your friends at followed along and the internet is continuing to go crazy over the three three. Yeah, I got I got
soccer to do it as well, which is hilarious. I can detect errors to
him. I did. Tim - Tim - Tim did it this morning? That's so funny
because I actually ate my texts are with soccer and
Tim and I hit those guys up and like you guys want to break the internet like his tweet out 3/3. So yeah, so tell us, tell us what, what did they do?
Yeah. Well, I think taking the setback like I think what we're seeing this in like the broader cook do markets is a lot of people are calling it defy 2.0. I don't know if that's what I'm going to call it. But like it's sort of like this new emergence of, I'd say both on like the L1 layer, which I know Faye has, you're excited about Phantom and you know, Avalanche.
Making a lot of headlines lately, but then also, I think the protocol layer and where I'm deepest on that personally, is that the ethereum side. So I would say, Olympus tile is one interesting project and there's a derivative of Olympus called clima de, which is also super interesting. And then Abracadabra is another week. Super just like, we are projects and I think like the thing with crypto in general, or defy specifically, is like the weirder and, like the harder it is to understand like the
Products that you're buying then you're invested in the beginning. The beginning like the more like oftentimes. It's like it is it's the crazy nights. Cool thing. Like it's but you have to like get really in the weeds and oftentimes actually invest to like see the picture, you know, clearly. So like for Olympus specifically, it started like more. Like I hate I hate described it this way, but it started like literally more or less. Some people call it a Ponzi scheme, but has like emerged into
You this leader with what they call, as a decentralized, they call it a decentralized currency. They will call this neighborhood called. Oh,
hm. Which is the native token of the asset
and the way that Ohi works. It's backed by die. So saying that there's at least one, there's at least one die for 1 ohm and the treasury. But it's not tagged to die. So the price, which I think, if you look at old right now, I'm not sure it's probably somewhere around a thousand dollars of die. There's also intrinsic value of other.
Governance tokens or other crypto tokens in the Olympus treasury that help back the price
of OHS. So
the cool novel and new innovation for Olympus, you know, specifically is this concept of protocol owned liquidity, which basically, if you think about and, you know, the crypto markets today, there are, you know, LP positions on,
Eunice Whopper on Sushi swap, where
people could deposit two types of tokens and effectively act as market makers between, you know, call it on the you need to eat or you need to USD
See, and this is the way that, like, literally money moves around these decentralised exchanges, because it's today. But what you find on the early stage projects is, as people launch tokens. They, they allocate generally a specific, a very large percentage of their governess tokens are effectively protocol ownership to liquidity Mining, and that's just the way they get people to, like, start raiding. The token started, get it out into the public, which is extremely a like, dilutes the protocol like, significantly, but you can, cause sometimes, you know, misalign law.
Long-term, you know, people who are the protocol that once long-term holders of the token with like call it hedge funds or like more short-term, actors, who are just trying to like Goose as much of token as they can get and then flip it on the open market and making sure short-term profit. So what happened with Olympus is like, hey, let's like flip this on paradigms like for long-term holders, they can take their liquidity position. So take that uni u.s. DC or that uni, ether as an example, which Unis not live on Olympus.
Say I think there are a bunch of other ones, you know that are super exciting. You can take that LP position and you could deposit into Olympus and basically, get whatever that protocols native, governance token at like a specified discount to the market value. So say the price of one unit Oaken is a thousand dollars. If you were to take $1,000 worth of like your uni East position and give it to Olympus die. You can get call it a salad, you know, $1,000 worth of
Of uni at say a five or ten percent discount, whatever the, you know, the prices and what the protocol describes as a as a bonds, but what's interesting about this is now the protocol. So in this example would be uni, they could they now own their own liquid. So like the protocol itself.
They are the market makers for their own token, which
is awesome because that means, you know, if the protocol has long-term incentivize for the project, you know, for its own projects health,
They can now allow people to buy in and out of the tokens as well as learn the trading fees, as people do that, instead of having that going to a hedge fund or whatever else. So it's super interesting. I gave a really long ended, you know, example of it, but though hm
token, you know, they started doing this for their own token. And then now
we're I get entrusted as they launched Olympus Pro that are is allowing other other defy projects to be able to do
this with their own token as well, which is super interesting. This is really cool. And you know, I certainly see the utility there.
And the usefulness of having that, but I'm
curious. Why would you say? Is it just
that people that do not let see a really high apy and they look at it and they say, oh, this must be a Ponzi scheme or like, why do people call it that is that just a lack of technical understanding of what they're really trying to accomplish or what's going on?
I think people would describe it that way because in the early days or until recently that Bond back it isn't that I just described is just for the oh hm took
Our adjust was for the lhm tokens. So it was basically like Ohr like is just for Olympics to like eat, it's own dog food and so in context, right, but then what they found was like, holy like, holy cow, like this actually works, like, people are coming in. They're buying our tokens at a discount and like we're learning like earning the trading fees, as people are tray in and out of our asset. Like this could work for other protocols as well too. So I could start out as its own thing or people are just like a p and N like getting the oh, hm token. A discount. Like I'd like the and with the
Crazy, hi. AP wise would encourage more people to come in like, you know, you get the flywheel there, but then they're like, wow, this works for other things, like this could work for other protocols. Like was it expand the technology to other people were to, you know, the other teams and then you know use that as a mechanism to keep increasing. The Olympus Has own treasury to basically give the lhm token, you know, further back in or broader-based
rozalex. So what's the play here? So you what you described is essentially what has happened in the last couple of months, if I understand this correctly.
The is it for me. Let's say as a more or less intermediate defy user is it does it make sense for me to enter into the Olympus ecosystem in any kind of way? Or is it too
late now? Definitely not too late. So, I mean like the the I think it's full of super early days. But like with the 3 comma 3 me and that you are seeing now is like basically people, you know declaring publicly that they are buying the oh hm token and that they are sticking it and the protocol in order to get
Like the rebasing effects from the lhm token growing and Supply over time.
So like that is the community's claiming, like we are Ultra
long, we're staking it and like we are in it, which is a
trusted. So
Kevin, thank you for starting the madness yesterday. I love that new and
novel things and I will tell you that I you know, my career as a technologist. Often times, the things that make us feel that feel often scammy and weird and awkward and scary. The
They are offered often the most disruptive and you know, there's I gave you that analogy last night. John, when we were talking about when I first got into my first, Uber car ride, that was a consumers car. When I stepped in, I was like, I'm getting in the back of some stranger's car and this is odd, you know, and they and so I'm always drawn to anything that makes me uncomfortable because I want to understand in granted. I've done some stupid stuff that if not ever returned any money and I've lost money, but I think that's the important thing that
You get that uncomfortable feeling. It feels weird. It feels different. You ask yourself. Does this need to exist is is it? Is this a is this just a hype cycle? Or is there something that is underlying this that could be broadly applicable to other projects? That's interesting. I'm immediately drawn to it. So when you brought this to my attention, I was like, okay I get that the AP wiser nuts right now and that from an outsider looking in at first glance was going to be like, oh, that must be it some type of scam, but I'm really, I'm really excited to see
How this plays out like, so in your mind, John like if this all works, like we always say that internally or atom is very well known in our team's saying, like what if it all works? Like he always says that. Yeah, and I love that saying because
if this does work, what
happens three five years from now? What how do you see this impacting the world of defy?
Yeah. Well I send also give the bias that like, we are early stage Venture capitalists. So we are trained to think like very optimistically and like only thinking about the outside and
I'm sure if we had other types of investors on here, they could have different opinions and do your own research. But you know, I think the goal of the protocol is for oh, hm. To be its own currency. Like it is a currency that is backed by a basket of different D. Fire other crypto tokens that are in the oh, hm treasury with the community, being able to choose how to use that treasury to fund, new products or Services built on top of Olympus to keep that flywheel going to keep increasing the value or collateral behind the lhm token over time. So if we have
Of what I just said made at least 50% the, you know, sense and it sounds like a little weird. Like, I think that's usually a signal my mind when I hear from others, like I'm going, and just learning more.
Yeah, that thing that's a great advice. We always say, go learn play Kick the tires with 50 dollars or something. You can afford to lose and just have fun. I would say that, you know, not obviously, none of this is investment advice, but it's worth checking out. And I would say the second, I tweeted that three, come three people started tweeting back at me with tree comma tree like a tree emoji and then another tree.
Hey, John, what's that? All about?
Yeah, so this is clean Medallion. This is like it could almost be cooler than Olympus and some contacts. So it is the same exact token mechanism as Olympus. I just described but with carbon credits as the backing behind the currency so like it and I can go in the whole Spiel, what? Like it is crazy, cool, but it is one of these four examples of I'd say emerging protocols, that are taking real world assets and are putting that on chain. But in this case, really doing it for good, I can go and more.
Mechanics, but it's the same again. It's the same exact Okinawa Max as Olympus but for carbon credits. Yeah. So let's
clean Maddow. I mean, this is just that stood. I'm pulling it up. Clima Del dot Finance, thirty two thousand eight hundred fifty eight percent a apy, what's going on there? Like what's how is that even a thing?
Well, that's just, you know, based upon like the revenue that the protocol is generating relative to like the amount of the amount of people staking their claim and the protocol.
It's like this like those absurd numbers. Like that's not that's not actually how much money you're going to make an annual basis. Like that's just it like it like mathematically it makes sense. But like that's likely not how it's actually going to play out because that's just built. But yeah, so yeah, I wouldn't, I wouldn't think too much into the apis that are being quoted. Personally. There's another protocol that is tokenizing is actual carbon credits from verified, like from like gold standard, like carbon credit.
And providers like in the real world and are basically buying those credits and putting them on chain, which clima is then buying and then putting it. I said, so
what's the other one that's actually doing the, the digitizing, the credits.
So that's two can protocol. Wow. We are really DJ, but like, this is one of those things where it's like, if you just thought crypto was about trading, or like flipping E-liquid jpegs, like no. Like this is going to affect everything, like, literally the entire world and clima is clima.
And to can are really great examples of of protocols that are helping to do that and I just blinked. I put a link to
toucan in there for people who want to go and investigate more about. I'll put that in the show notes as well, crazy. Okay. So last one
fans, did, you know, about all this stuff man, man, I knew about it,
but I kind of ignored it. I'm not going to lie. This stuff is it can get complex quite quickly. And like I said, I consider myself D, Jen, but not the agent enough to really dive deeply into this. And as soon as you see five,
The apy numbers you your bit hesitant in looking at up a kind of in detail, but I've heard about climate. Oh, I've played around with it a little bit. So that one is quite interesting for me. And I to be honest, I think this this whole Bitcoin mining narrative could be quite interesting when you combine it with something with such as clay model. So it will be interesting to see what what the innovators will come up with here. So crazy John, I have one more that as on our list I wanted you to chat about and then
Fresh. Hey, I'd love you to cover a phantom Abracadabra Dot money.
Oh gosh. Yeah. Boy, no, no, no deeper into the rabbit old chum. All right, like we are like if we were, you know, five steps deep were about to go another five steps though. Yeah. Already shaking my head. Yeah. We are.
First time I've gone to the website. So I'm is newbies. His can be here. Like, tell me what I'm looking at.
Well, it's yeah, I think.
You're on the website that talks about like magic spells and stuff. This is advocate for that. Money
is a spell book that allows users to produce magic internet money.
Okay, this town's, I mean, this looks like a
straight-up scam. Although I do, I can appreciate the 8-Bit dragons.
Well, it's kind of like it's, it's remember alchemic. So remember what Alchemists looks like, you know, weird and scam me originally, like it's like, you know, doing risk free loans. Like this is actually, I would say, I don't The Alchemist, you might not appreciate this, but I would call it almost Alchemist 2.0.
In some contexts, but with the key difference being that the collateral behind the M IM token, being any interest bearing token, so that could be, you know, you're like you're a tokens from Ave. That could be your y tokens from yearn or that could be even X sushi, right, which is your steak sushi. That is earning protocol fees and you can deposit it into Abracadabra about money and then be able to mince up to 90% of that collaterals value. As the M, IM magical, internet money.
Tokens to be able to use like anywhere device. You can take the M IM. There's a curve pool where you can trade it into u.s. DC or to dial into any widely trading and stable coin, so that you can basically, you know, either leverage up your position or invest in other new things, as it as it sees fit, but like with a lot more you can use, you can make use of a lot more of your collateral and then with the other key difference being that like your be liquidation prices on like an individual like users basis. So like there's not
Not a big pool of risk, like your money will only get liquidated, like, if the asset, you use specifically deposit, like, goes down to a specified, you know, price and that dozens on the nature of the token that you deposit in.
Let's break this down for people in a explain it like I'm maybe 12 kind of way not 5 like something that's because this is hard to understand. So let's say I went out there and I say, hey, you know, I like sushi. It's a great platform. They do quality work. I'm going to buy some sushi. Okay, got my
She got the, the token, it's in my metal mask. I'm happy and I'm like, well, I want to stake the sushi so I can own or earn a little bit of rewards here because why not? I have sushi might as well stay kit. And so, I converted ice, take it. I receive a token back. That's kind of like, saying, you know, you're staking this Samira Steve X Sushi back, right? So I have this x Sushi. Now, I say, well I want to
actually put that
lock up that X sushi. So I have this other X issue token. So I'm staking them earning rewards there. I'm going to take my egg sushi.
Over to Abracadabra, and by the way, John stop me. Correct me? If I'm wrong on any of these steps. I could be, I wanted on it. Okay, I want to take this x Sushi. I lock it up, and Abracadabra Abracadabra gives me m IM magic internet money, which is a stable coin back is because we, 90% of the value of my ex Sushi back in a stable coin. So, now I have something I can convert to USD, see, which is another stable coin. When we say stable, chloramine pegged to the u.s. Dollar. So one for one. So I have
Hundred mmmm coins, I convert them to a hundred US DC coins. Now. I have a free and clear, 100 US dollars that can do whatever I want with the liquidation, the risk, The Leverage. The scariness is
Sushi, all the way back at Step 1
tanks drops and value. It could trigger. This whole cascading liquidation all the way down all the way out. Right? Back out to X Sushi. Is that
correct?
Correct it but I think there's well two things to know one that sense. It is X Sushi and it's generating Revenue. Like it's your earning revenue from it. That'll go back to pay back your position over time. So similar to similar Dynamics, so that's where that will start. Paying that back over time, and, you know, an interim between the time, you know, depend on the amount that you borrow against your position, like if the price fluctuates, you can get liquidated, but also like that's, you know, there's price action on the Ecstasy. Like, the price can go up and down, but you could also just
Here a u.s. DC or like you're, you know, yarn dye or whatever have it be, which is the stable quiet and, you know, have a little bit more Comfort at night knowing that, you know, that's not going to go up and down and value because it's, you know, good point. So you're saying, take put in the
interest-bearing asset of a stable coin, then you're only risk. There is the peg of the underlying stable coin so that my in die, that might be minimal but something, but here you have USD, you could do so
So why us DC? Right again the back to the 12 year old example, I'm on coinbase. I have USD see because that's what coinbase issues is a stable coin. I take it out of corn base and move it in a metal mask. I'm I bring it over to yearn.
What can I you
learn with step one with USD see? What can I earn interest rate
rise? I'm not sure what its quoted at today. But like, you know, I'd say, you know fluctuates between 3 and 12 percent kpy II don't know though, and that that is the should be
On your ins. Well, yeah, Muslim now actually, so I see you. See, you? See, you can get six point four, eight
percent. Yeah, it sounds. All
right. So let's say I get six point four, eight percent on your now, they're giving me this, this yearn token. This, why USD see that I can take over here
and
what can I get out? So I bring that in.
So he could get out. I believe it's up to 90% of the value of that, you know, of that collateral a pittance to say, you put in $1,000 and say year and you get out, you know, thousand, why USD see tokens. You could put that in and then take out like, I suppose up to 900. Am I am tokens or with the equivalence of $900 worth of that by and
tokens and what you don't have C, right? John, so it is up to 90% but you don't have to take 90%.
Oh, yeah. Yeah, so that's like, yeah, if you're going full D, Jen, like, I want to borrow as much as I can up to the Limit, but you can take up, probably 10, you can do 10% 20%, whatever, you know, that amount that you're comfortable with,
and then you can repeat the process all over again. Leverage yet, another Rabbit Hole down right and just keep
and this should be a
calculator somewhere there. Just show you what your effective apy is. If you if you keep triple quadruple leveraging these stable coins. I don't want to think about it. Yeah. It's
That's anyway,
just this is not
all of this is not to say that any of you listening. This should do this, but it is important to understand what's going on and
it's freaking crazy like the and so and then this loan is getting paid off
automatically, right? Like so that's that's the alchemic side of this. The Abracadabra is self paying this off so that eventually you'll be able to walk away and exit free and clear. It's a
correctly. Yeah, well and and that's the, you know, the magic of defy, right? And throughout that process, you don't have.
Pick up a phone and talk to somebody to thank you didn't have to get anything approved. Like you just went through your connected, your wallets and your able to do all this crazy shit. Without any permission. Where do you learn? Like John? Where do you
hang out to learn about this stuff? Is it just crypto Twitter? Your phone, the right people. Are you on some weird discords? Like what's going on?
Yeah. It was a, The Depths the underbelly of their I know, but seriously, I'm not Kevin, I think, you know, the magic of our job as we get to hang out with the smartest people in the world, you know, who are actually building these things were actually building.
These protocols and projects and they are, you know, by and far the people who are actually writing the code and who are actually building. These projects are really the best place to learn. And I try to listen absorb as much information. As, you know, I can just turn our conversation with them but also
just like podcasts and
internet like, you know, I think faster and talk a little bit about Fanta and I know Andre caronia from urine is a really key contributor. They're like, these are the people who are changing the world and that's that's where I go to try to learn about this space.
Yeah, if a
You know, you are. I got to give you mad props and I told you this on our call last time. When you were in baby lamb, not the one that we did publicly about the one. We did privately, I was saying like dude you you really called Luna early on this show. And before I was even, you know, I was like, what are you talking about? Like, you know, and it did it blew up and man, you nailed it UST, and all the ways to earn 20% and anchor and all the stuff that you mentioned has now, become a big deal. So one thanks for bringing that to our audience, many months ago, which is awesome. And then I asked you
On our call. And the reason we wanted to do the show again is like I said, what else do you excited about? What else do you think about this? That's early and you mentioned to me that Phantom was one that you personally hold. And we're excited about and I said, you know, I know a little bit about it, but not much and I was wondering if you could explain to us. What is
why you should people alive? Maybe many people have heard a
phantom. What is it? And for those that haven't heard and then why should people be excited and why are you excited? Absolutely. And and to be honest
I'm with Luna. By the way, in Phantom. I still think the potential of these two projects to rise. Even further. Still there. So you're not too late. I think you should definitely play around with with both projects. Now, coming to Phantom what excited me about Phantom was essentially what John just mentioned is the fact that Andre caronia is working on Phantom. He is the the calls himself, the defy architect of the platform, but essentially, he's also in my opinion, the main developer behind it and really driving the project.
And for the people who don't know, Andre caronia, he's also the founder behind yearn and all like the most of our, a lot of fundamental defy protocols that we use and interact with today. So people know vitalik is being the founder of etherium. There's a few people, you know, I would say a handful of people that you can point to and say they changed their they're changing web three, right? You give Satoshi on the Bitcoin side you have italicum theorem side. There's a few
There's big names. But you know, this is one of those right on the defy side where you're like, this is the talaq level like like red here, right? Hundred percent. Like do Quan with Luna Andre. Yeah. With the with defy. Absolutely. Absolutely. And I think that was kind of initially what, what intrigued me about Phantom was and I think you as BC's, kind of have this thesis to invest into people, not necessarily into products and that was kind of my, my thinking of looking at Phantom as
Well, then what happened in this summer? Was that a lot of L1 and L2 projects and the defy world started launching these incentive programs. So essentially having either a small fund, be it, one or double-digit millions of money. Spent on the D 55 protocol or even triple digit numbers that they would spend into or onto the ecosystem. Such as Avalanche for example, which has released this this massive.
Element fund and same. What is happening with with polka dot and near as well. And what was interesting for me was that most of these protocols started doing these development funds or even incentive funds to incentivize the users to use the platforms and protocols. What Phantom did differently was to incentivize the developers, not to users. Because as users, we tend to go from platform to platform where the yields are the highest. So we Abe from Project to project, we check out the project.
And if the yields are down, we move away and you can see
this already with
defy summer last year people have started on Ave and compound and so on. But hardcore, defy yield farmers are not on these platforms anymore. At least, not on, not the majority of their time. They are looking for different DJs and plays around around the block chain world. And launched this, this developer incentive program to essentially bring interest or interested developers on to the
Forms to develop really interesting things. And what has spawned out of this this fund was, were a lot of different protocols and products that I tend to use as well, from time to time. Some of them are essentially copycats of the etherium equivalent, but others are completely new. And there is also a small tie in, with what John just talked about with Olympus, as well as our Abracadabra as well. So there is a phantom angle there as well. So these protocols start to slowly talk to each other.
Other. And there are some interesting effects happening with, with these different coins. And so on that coupled with the fact that this week was, I think Phantom the NDC happening. So a lot of developers talked about their different progress and building on Phantom and so on, and I just realized and one of my big investment thesis is, is essentially to invest where developers are going. So if the developers like a platform, if the SDK the platform and the tools that are being provided are useful for the Developers,
I swear, they flock and that's where the Innovation will happen. And ultimately that's where the users will come to as well because the developers build the platforms that attract the users. So essentially that was my thesis behind Phantom and I've been tracking it. I'm not like a super early into Phantom, but I've been tracking it since about a dollar or something and it has been going really well and it is super interesting. What is brewing in the Phantom defy ecosystem. Yeah. It is so cool for people that
One of the things that that has been plaguing, you know, theorem for a long time has been, you know, performance, right? We've had issues the it's a bit about transactions per second, but it's also about time to finality like how long it actually takes to execute and do something through a smart contract. One of the things that Phantom doubts right on the front page is performance matters, and it's a high-throughput, you know, open source smart. Contact platform have have if you do you see this as an alternative to the theorem, so that people that are using fan,
Are
saying, hey, because it is
evm compatible. Right? So you can bring any of your etherium, smart contracts over and launch them on the Phantom chain. Is this something where you could see this actually competing with directly with a theorem. I'm not completely sure yet. I think absolutely what you just talked about and that's it. That's a group. That was a great knew. I should have mentioned that as well. The reason why these L1 and L2 platforms are popping up and are
Ting so much interest from the community is essentially because they're faster and much cheaper than etherium. But I mean, looking at the numbers right now, I think the the defy ecosystem, the etherium tvl. So the total value locked in the ecosystem is still about 150 billion compared to Phantoms five-and-a-half. Will it eat from from a theory of market share? I'm pretty sure it will. So, what we've seen in q1, in the first quarter of this year, for a bind and smart chain will essentially
Is already happening in different ed5 protocols and I think Phantom is one of those. And for me it is with. I mean what I also have to mention and I forgot about this was this tool called any swap. So it's essentially it's a bridge to Bridge. I think up to 20 different coins and protocols into the phantom world, which is, by the way, also developed by Andre crony and it is working really, really well. So I think as soon as the ux of these platforms are
Are working really well and the yields are high and the interest is here. People will definitely move a little bit away from the theorem based protocols. Because let's be honest. I mean if unless you have five or six digits, in the defy ecosystem, the gas fees will eat into your profit. So you are not able to yield Farm in a DJ and way to rotate crops as we call it in the defy world every day because it's just too expensive. But with Phantom and with with with
With Avalanche and with all these platforms you can actually do that. Yeah, that's a great Point phase because, you know, one of the things that we mentioned earlier today and talking about all of this with Abracadabra and and a urine and everything else. It all in essence is, when I said, hey, take $50 to $100. Go kick the tires play. I was, I was incorrect because you can't do that. Your gas fees are going to eat up everything, you won't be able to play. Unless you, you know, let's just say you had a thousand.
Dollars, you're still spinning at times 20, 30 50 dollars in gas fees, whatever. It may be on the term Network and that's going to
take you forever to recoup that
if with a such a small amount of capital going in. So it other than just the thought and learning exercise on the ethereum side. There's very little value. Unless you, like you said, you have five or six digits or greater to play with that said, I'm on Phantom and, you know, we've got Abracadabra on here and we've got curve on here.
And you know, there's there's sushi on here. There's everything that you would need to go and play. You could do it within this ecosystem and the fees are going to be very minimal. Right? And so this is a, you know, your ends on here as well. Obviously, it seems like all the stuff we talked about earlier. If you wanted to go play with this, you should do it on Phantom. Am I? Is that correct in your eyes, I would say, yes, I would say, yes. I mean, the, the the incentive eight with the incentive.
Currently is so well done. I mean if you go I think into the official Phantom disco right now. There is also a faucet that will send you. I think two or three Phantom or or 0.5 or something like this to even offset the transaction costs to play around with. So you can even start with 10 bucks or 50 bucks or something to play around and learn the ropes. And the Phantom network is also like you can integrate it into metal mask as well with one or two clicks depending on the platform, you can even add.
Tokens and all of these things. So it's super beginner friendly. Go to mess with with smaller amounts. This is cool. You know, I never want to make investment advice on the show other than to say the stuff that we're checking out. But, you know, you can make kind of like, as I see it, you know, entertainment advice and arcade like, I'm just going to have fun and yeah, I mean, take a hundred dollars or fifty or whatever, go have fun and learn a ton because it'll be well worth the money lost. If it happens, too.
Just learn this stuff and be early. And this is, this is a good time to play. So we'll link up Phantom as well. Very, very cool stuff. Yeah. So if it has your long, Phantom your what do you currently? What are your what are your current bags? Just out of curiosity, the stuff we talked about essentially, definitely Phantom. Definitely Luna, and definitely ruined. So, Thor chain, or let's say some bags that I'm interested in and to be honest, also ftt. So the Ft EXT, okay. Interesting.
It was his also, I love FTX is an exchange, my favorite. I would say, probably one of my favorite centralized exchanges without a doubt. I know they have a decentralized component as well off to the side, but why hold that token again? I learned from you guys to not bet against specific people and an SPF Sam free it. Yeah, is definitely one of those guys. I think one of the smartest guys in the industry and he does so many things, right? I mean, even let's say that's not even.
Talk about the technical stuff. He's done with ft. X being a super stable exchange. By the way, let's talk about the business stuff. I mean, what he's doing in the US with sponsoring different sports teams and leagues, and Arenas and giving out n FTS and tokens to people going to the Miami Heat game because it's called df/dx Arena. And this and that is just for me a lot of smart moves. A lot of moves that I would have expected from some centralized exchanges and they haven't done these moves.
And I believe that this will reflect heavily in the ftt price because there will be new users on boarded onto ft x and so on. Yeah, I mean, I've had him on the show, I would say, every interaction I've ever had with him. I've just been blown away. He is clearly, we talked about earlier this episode like who is that list like the metallics and the folks that we could probably put together a list of 10 to 12 people that are in this world? That, you know, you would say I will back anything that you do and Sam is certainly high up on that list.
List and I agree. I've been I use f DX dot U s-- for because they were one of the first platforms to support Solana and you know, it's a great place to trade and buy and sell salana. Now there's you know, it supported almost everywhere, but I would you know, he's very good at embracing early Tack and early coin and then doing some of the more wild stuff like when they tokenize stocks, right? And he embraced that for, non us buyers and and offer that up. And it's just, I love how he
He's a little bit of a DJ in Attitude to his exchange and and kind of just says, like if it's fun, it's crazy. Like, let's do it. He bought block folio the app for which I was always using a minute switch to FTX was like, oh cool. Like, I'm glad to see that. Find a good home, you know, and yeah. Just yeah, that's it one. I've overlooked but you're probably right. Like I shouldn't that's a smart one. Cool. Well, I, you know, we're calling for the end of our time here. John. Anything else to add anything else that you're paying attention to that's worth mentioning.
Inning.
Oh, you know, nothing really top of mind right now, giving her some good stuff already. Yeah. I'm like, yeah, I'm worn out like it's like it when I get in the flow of talking about some of these weird things just like he's just like invest a hundred percent every time and
energy. And as I definitely need to go
back to learn more about fansub. It's super interested. And I have a bunch of, like, very technical questions for you that are not relevant for this show, but I'm curious where I like the Consensus Effect doesn't whatnot. But all
Say it's like God every day is something new and like the second you thought like this, you know, like this is the way the world was going to work. Like you're well, you know, something rocks your mind the day after and, you know, forces you to really really, but to really re-evaluate things.
Absolutely. And I love that, you know, this show as people have been following along with, with consensus. It's gone back and forth. Like there's been some weeks where it's like 90% in FTS and, you know, it's just such a both sides, whether it be the empty side or the D, Phi, D, Phi side or just
Stay L one side or whatever you want to. They're all so much fun is in, it's hard for me. No one. I think we all feel overwhelmed. So don't feel bad. If you're listening to this and you feel like I didn't understand this. Like, I'm not up to speed on a lot of the stuff. None of us. Are you kind of have to pick your poison and go deep for a couple weeks and then come back out and say, okay. What did I miss? You know, I don't know if you all feel like that, but I feel like I'm constantly missing stuff. So it's nice to have these new projects on here to kind of refresh my my thinking a hundred percent.
I mean, it's the beauty of this industry is also, you can miss a hundred opportunities. And tomorrow. There are a hundred New Opportunities. I mean, I don't know any other industry where you have that, that's that gets me really excited about this industry as well. All right. Well guys, just find me the next should be Reno and I'll be stoked and we'll all a PIN to that one together.
Yeah. Well, thanks for being on the show. And I think
that's it for this episode of consensus in real quick. Again. Fresh Faye on Twitter for fayez and John you.
Have yours that
will link up because it's super long workout that will Circle back on that one. Got it. We're
going to handle. All right. Good shot guys ready. Thanks guys. Later.
