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Speaker A: Now they have a much more direct bridge to Ethereum and going bankless. That pipe is easier and more direct because of this. So they can go from PayPal to Ethereum to a decentralized stablecoin in like five fewer steps now. And while we would like to all have the world go bankless, that is a spectrum. And people will choose to go as far down the bankless journey as they would elect, and some people will elect to stay in centralized stablecoins, and that is just fine, in my opinion. |
Speaker B: Yeah, I agree with us. This is a step, right? This is slightly more, just slightly more bankless than the existing status quo of dollars inside of the PayPal platform. And why is it good as just what you said increases adoption, so we get more private keys in the hands of more individuals. There's now an off ramp. We load this into your metamask wallet. Also, this is a big normalization event, I think, for crypto used to be like the, you know, the crypto exchanges, the coinbases of the world, the krakens of the world, who are into kind of the stablecoin business. And now this is paint PayPal, it doesn't get any more fintech mainstream than this. The last point I would make is this is another example of a third party, a publicly traded company actually paying gas fees on Ethereum. Every time you pay gas fees on Ethereum, you make Ethereum more secure. And that cannot be understated. I think economic bandwidth, the value and the price of ether corresponds to security on top of Ethereum, we don't get any of those attributes and any of those wins with just a bank coin inside of the PayPal app, which is what we had today. So this is not like a panacea. This is not pure decentralization. We're celebrating. We're celebrating one step forward. And that's why it's exciting. |
Speaker A: So stablecoin transfers, Ryan, are the number two most gas intensive activity on Ethereum, as in it burns the most gas after swapping. And we just saw, like the stablecoin contract for PayPal, they're going to start burning plenty of ether, too. Yeah, but also that's going to be a cost to the business. You know how PayPal can turn that cost into revenue? |
Speaker B: I got an idea, but why don't you tell me yours? |
Speaker A: Why don't they just do the thing that Coinbase is showing the world that's possible and make their own layer two and all PayPal stay stablecoin transfers they can collect their own sequencer fees for? |
Speaker B: Huh? |
Speaker A: Huh? |
Speaker B: That's a good idea. |
Speaker A: A PayPal payments network in addition to the PayPal stablecoin. One of the strategies that's hypothesized about the partnership between Circle and Coinbase and the base layer two is to make circle USD transfers on base free and turn base into a payments network for circle. So. And also they're going to generate revenue for from that because of the layer two. Why doesn't PayPal just make its own layer two for its own payments network? |
Speaker B: That's really smart. That feels like the next step. I mean, yes, you should get a job at PayPal. |
Speaker A: I should be a consultant for PayPal. |
Speaker B: PayPal execs, if you're hearing this, David, David is excited about this opportunity, bringing you guys a layer too. I also think there's another like point to all of this, is with the addition of PayPal US dollars, we didn't lose any of the decentralized options. We didn't lose ether as an option or dai as a stable coin. Like, those are all still options and you can still use those if you want to use something a bit more decentralized. So this is only adding to the option list. That's why I'm personally excited. This is Anthony Cisano summing up his take. Yes, PayPal's stablecoin is centralized. No, that doesn't make it any less cool that PayPal has a stable coin. Ethereum being a settlement layer for all types of value means that different types of assets will exist on the network and you get to choose which ones you want. Another sub point that I think is interesting here. I don't think that PayPal would do this without regulatory confidence. I said regulatory cover, but, but I mean regulatory confidence here. The us government, I think, wants stable coins to work. At least some portion of the us government does, subconsciously. And I think more people subconsciously it does. And so I think that this happens at an interesting time where I'd say 2023 was one of the most bearish years for us crypto from a regulatory front. But I still think that people are massively underestimating the chances that the us government might flip bullish, particularly on this stable coin. Issue, they might look at it and say, hey, we need a payment. Rails to export the supremacy of the us dollar. And this is one more step towards that. The stablecoin step with PayPal. Of course, not everyone on Capitol Hill feels this way. This is Maxine Waters who says she is deeply concerned that PayPal chose this path versus the federal path. And Matt Walsh makes the comment, the federal path for issuing a stablecoin literally doesn't exist. What planet are we on? So some politicians are still complaining about this, even though they haven't provided a path to actually register a stablecoin with them. |
Speaker A: Maxine Waters being deeply concerned that PayPal is creating a stablecoin while also being the person who blew a kiss to SPF is just like, I forgot what lizard people are controlling this planet, dude. |
Speaker B: Oh, no, I forgot about that. |
Speaker A: Yeah, of course, she's deeply kisser. |
Speaker B: That does look awkward. This is Mike Selig, crypto lawyer. Banking regulators have essentially said banks can only issue stablecoins on private blockchains. PayPal will issue its stablecoin on Ethereum. This regulatory arbitrage has put a lot of pressure on Congress to pass a stablecoin bill ASAP. |
Speaker A: The free market always wins. |
Speaker B: Yep. |
Speaker A: One of my takes in my last article was that crypto is an unstoppable force, but the nation state is not an immovable object. And that is what we are saying here. |
Speaker B: That's a good take. Yeah, they could definitely be influenced. They'll just stamp approval and legitimize it before long. David, base ship this week. |
Speaker A: Dropping the base. |
Speaker B: Okay, what is happening? What do we need to know? |
Speaker A: The base layer two is now live and open to everyone with a two way bridge. So if you ever make some meme coin gains, you can finally get out. Over 100 applications and service providers are already ready to go inside of the base ecosystem. And there is an NFT to mint. So if you want to get on base and Mint an NFT, mint base, day one to join the story of bringing the world on chain that NFT is available to you. Already, over 12,000 transactions and $3.6 million has happened. Not on base, but on uniswap v three on base, just as uniswap v three is there. Yeah. |
Speaker B: Okay. |
Speaker A: Yeah. So $155 million, part of the TVL of the. The $10.5 billion Tvl on layer two. S base owns 155 million of that, all in the last 24 hours, up to 159, 159. Six transactions per second. You know, not at capacity. Still pretty good. And so base, we are going to watch the base story with great interest. I think that this we will look back on and see the reason for why we had a bull market in 2024 and 2025 is base. |
Speaker B: What's that reason? Layer twos base. |
Speaker A: Coinbase specifically, putting all of its marketing and weight behind a base. Layer two because they are, like I said, printing money on it. But they are going to take Ethereum, layer two specifically base, because they now have the incentive. They are going to take it mainstream. There was a conference, not a conference, a festival, friends with benefits festival over in California. And Coinbase and base had a very significant presence there. And it actually didn't really go around crypto Twitter circles because it's all like culture and music and not nerds and normal people. Coinbase is taking base marketing to mainstream culture. And so they're just broadcasting and advertising the ethereum roll up centric roadmap on our behalf. Which golf clap? |
Speaker B: Golf clap. This is very cool. This is going to be very good, I think, for our metric that we're talking about earlier, layer two total locked value. So you said there's already a look, 100. It's gone up as we started this episode. Almost 160 million total value locked by base right now. It's cool to see them on layer two beat. And if you were asking the question, which you very well should. Okay, so how decentralized. It's already number five. Damn. Okay, and if you're asking the question, how decentralized is this thing? Well, layer two beat has the answer for you, right? It's getting there. It's, there's five slices of the decentralization piece that you need to turn green from red to green for base. Base has two of those. On layer two beat, it needs three more. So some upgrades to state validation, upgradeability itself, and proposer failure. We need to get those to a state where they're more decentralized. But the first step is launching a roll up, and that's what base is doing here. |
Speaker A: So the security pie that you're looking at on layer two, B base security PI and the optimism mainnet security PI, are actually the same because base actually is governed by the optimism collective because it is an op stack chain that is a part. And so this is like the first chain. In addition to the main net, the base chain is the first chain to be formally a part of the super chain, which is this thing that meme that people are talking about, which we're going to actually cover in a future bank list episode with Jesse and Ben from optimism. But they are the first major chain to join the collective. And so the base chain is governed by the op token. And so when optimism mainnet upgrades to fill in, whenever they get in their validity proofs, then all of a sudden, base will also gain validity proofs, because that's how the collective works. |
Speaker B: Santiago Santos has a take on this. Let's take a moment to appreciate the novelty of a centralized public company launching decentralized public infrastructure. Coinbase is a mission driven company and will likely go down as the most impactful company who pushed crypto to mainstream. Build on base is to web three, as the iPhone was to the smartphone industry. |
Speaker A: Big statement. Wow. Jesse and Brian on the Coinbase podcast, they have their own show now called on chain summer stories. Because one of the, they are just pushing the phrase on chain, on chain, on chain. Online. On chain. Online, on chain. Get it in your head. So let's hear about Jesse and Brian, talk about their collaboration with the op collective. |
Speaker B: The collaboration we've had with optimism, by. |
Speaker A: The way, is really incredible, and we're huge. |
Speaker B: Shout out to them. |
Speaker A: The collaboration has been good, and it's. |
Speaker B: Allowing us to move very quickly with. |
Speaker A: This particular l two solution, and we. |
Speaker B: Hope it gets broad adoption across every. |
Speaker A: Kind of product out there in the space. |
Speaker C: Yep, yep. And a huge plus one to that on optimism. When we were just trying to get started building an l two, we obviously thought about, how do we want to approach this? And I think the thing that was a North Star for us was decentralization. It's like, how do we get this decentralized network incubated inside of a public company and then fully decentralized over the next few years? And as we were trying to figure out how to do that, I think what we identified was having a partner, having a collaborator in doing, who could help lead the way on decentralization, help push those boundaries for us and help us figure out our path was gonna be really valuable. And I think that's where optimism has really kind of been a great collaborator. |
Speaker A: And really, I think the main thing that I want to get across in this section is that Fortune 500 companies, Coinbase is showing them the way to becoming on chain, to being on chain. This is going to be the first of many, just like how I said, was saying, hey, PayPal could have its own payments network. They are showing the way for Fortune 500 companies to spin up decentralized layer twos because we have the technology in the year 2023 to get that done. |
Speaker B: Yeah, that is very cool. And by the way, we're going to have another opportunity to sit down with Jesse at permissionless, which is coming right up. David, you're doing a panel, I believe, with Ben Jones and Jesse of base and Coinbase at permissionless. So what are you going to talk about there? |
Speaker A: Yeah, so we're going to unpack the relationship between Coinbase, the centralized company, and the op collective, a decentralized dao that governs over the op stack. There is just a ton of nuance to unpack there. And I think as permissionless is coming up, we're one month away, and so there's going to be a lot of conversations about like, okay, but what is the super chain? How do these things form together? How does a decentralized organization converse with a centralized organization? Lots of questions all about that, and that's happening. A panel that I'm moderating between Jesse Pollock and Ben Jones from optimism. But that is not the only conversation I'm moderating at permissionless new this week that we just got finalized. Vitalik is coming to speak at permissionless remotely. Me and Vitalik are gonna talk about Ethereum for the future. And just as a little teaser for all the people that for some reason are not going to perfmilage, I just don't know why you wouldn't. Ethereum, there's plenty of use cases that we talk about. Let's put Wall street on chain. Let's take nfts and make them for brands. But what about all the future use cases that we can't imagine because we don't know the future? What about the future things that Ethereum, the future technologies that Ethereum will be a platform for? So that's a conversation that Vitalik and I are going to kick off permissionless with right after Eric Voorhees and right before we have Dankrad and a few other Ethereum people talk about the Ethereum roadmap, just the future use cases that we can't imagine because it's not here yet. So we're going to do our best to navigate Ethereum for the future, and that is going to be talk number two at permissionless. |
Speaker B: Grab a ticket, guys. September 11. It's coming right up, so get your ticket. And there's a link in the show notes, as always, David, we were talking earlier about base and its kind of security pie on l two beat. Actually, Arbitrum took a big step forward in getting one of the slices of its pie from yellow to green and becoming a bit more decentralized. This is not in production yet, but the plan is in place. The DAO just has to vote. Code needs to get pushed to production, and then we're good to go. They are calling it arbitrum bold. Bold stands for bounded liquidity delay. Can you give us the TLDR of the arbitrum release this week? |
Speaker A: Yeah. Bold basically allows the protocol to enable permissionless validation for all arbitrum chains. It removes the permission validation set, improves decentralization. Like you said, validation via fraud proofs is currently permissioned in arbitrum because the protocol is vulnerable to denial of service attacks. But Bold is a protocol that anyone who is running arbitrum software, the arbitrum infrastructure, helps solve that problem. So a single honest validator has the means to win disputes against any number of evil validators. We call this an n over one security model, as in, you just need one honest person to be participating in the network in order for the network to be honest. It is the gold standard of network security. If you only need one honest person to maintain the network, then you can basically have the strongest assurance as possible that that network is going to work. So that is bold in a nutshell. As soon as bold gets voted by the arbitrum, Dao into Mainnet gets merged, then all of a sudden, one little yellow slice on layer two b is going to turn green, and arbitrum will have the most green slices out of all layer twos. I think it already does, but it's going to have even more. Taran Sadeath from arbitrum, he tweets out a great way to explain this before bolden. In order to submit a fraud proof, it would be terminant style. And in order to win, you have to defeat all your malicious opponents one by one by one. And now with bold, there's one gigantic fight where you have the superpower to knock out all malicious opponents at once. |
Speaker B: The royal rumble. And you have God mode. |
Speaker A: Yeah, exactly right. You are given God mode inside of the battle royale. |
Speaker B: Yeah, that's very cool. This is an entire episode that we did earlier this week on bold and arbitrum. So if you want to catch that, there's a link in the show notes and also on your RSS feed and. |
Speaker A: Also at permissionless, because all will be there as well. |
Speaker B: David, what do we got coming up next? |
Speaker A: Coming up next, what's going on with Huobi? Should you be concerned? Curve hacker returns some of the funds with a cheeky message, and Michael sold some more CRV to pay back his on chain loan. Is Michael, the founder of Curve, going to make it? And then a judge rejects Ripple's ruling precedent in a terraform labs case. We're going to unpack all of that and more, but first, a moment to talk about some of these fantastic sponsors that make this show possible. |
Speaker B: Polygon and ZK sync had a bit of a scuffle this week over crypto, Twitter primarily, but it spilled out into other channels. David, give us the scoop. What happened? |
Speaker A: Yeah, so Polygon Zksync, two creators of the ZK EVM, probably the two most frontier creators of ZKE EVMs, had a scuffle over attribution about whose code was who. So Polygon wrote this blog post called protecting the open source ethos, which is TLDR copy, pasting copy, and pasting source code without attribution and making misleading claims about the original work is against the open source ethos and hurts the ecosystem. In the world of open source, there are, like, these rules of engagement for citing open source work, and Polygon is saying that Zksync did not follow those rules of engagement and did not provide proper attributions when Zksync borrowed some of Polygon's code that they created. And so that is the claim from Polygon about Zksync. And then Zksync, of course, has a response from Alex Glukowski on Twitter saying, we actually did all of these attributions. Polygon just didn't feel like they were satisfactory, and then started making citations about when they were using their own code versus plancky two's code, which is polygons. It was a fight of who owes who credit, and it elevated and got into the world of front facing crypto, Twitter. Most of this stuff, mostly these fights happen just between these two organizations behind closed doors. But it surfaced and got into, quote unquote, the real world. That's the TLDR. |
Speaker B: A little bit of drama, huh? The kids are gonna fight. I think that's what this looks like. |
Speaker A: This is a little spicier in the layer two war space than I would have enjoyed. All the other layer two wars has been pretty fun. This one was a little bit too spicy. |
Speaker B: Yeah, a little bit of a downer. I don't think mainstream is paying attention to this at all. This is very much an internal. |
Speaker A: It is a question of, like, legitimacy, right? That is the big question here. |
Speaker B: Well, I'm happy to leave that one in the rearview mirror, so, moving on. Speaking of rearview mirror, actually, last week, curve was a big subject on the roll up, and particularly is curve going to make. It was Cr V and some of Michaels, the founder of Curve. Were some of his positions on, on lending and borrowing protocols going to be liquidated? And would that cause a cascade? That would be bad for those protocols and bad for Defi in general? David, this week it's looking like Michael is going to make it. Maybe what happened this week, barring any. |
Speaker A: Sort of further black swan events, which I would consider is why Michael was under dress in the first place, as a black swan event of the days, day one, bug in viper. So first, an exploiter returned some of the stolen funds from Alchemyx. So 4820 Alchemyx Ether was returned, as well as 2258 actual ether, which is about 15% of the total losses in the curve exploit. And then Michael as well also sold 75 72 million crv to 15 entities to generate $42 million to pay back some of his loans. And so some good news. Michael's positions are becoming more secure. The curve exploiter is returning some of the stolen funds. I think one of the funny things is that in the transaction, in the data for the transaction, the exploiter wrote this message saying, I saw some ridiculous views. So I want to clarify that I'm refunding you. Not because I think you can find me, it's because I don't want to ruin your project. Maybe it's a lot of money for a lot of people, but not for me. I'm smarter than all of you, is what the exploiter said. Yeah. |
Speaker B: What a dick. |
Speaker A: Yeah. Wow. So curve Finance has extended a bug bounty to offer anyone who is able to identify the exploiter $1.85 million. And so if you know who the exploiter is, you can get paid $1.85 million. But the curve exploiter is saying, you can't find me. Neener neener, boo boo. |
Speaker B: We didn't. It seems like the, the curve trauma is sort of over, though, is curve price recovering? Michael's not going to get liquidated. |
Speaker A: Michael's probably not going to make it. He's probably fine. Whether the. I mean, the curve price is definitely hurt, but it's not. It's definitely, definitely still alive. It's doing just fine. |
Speaker B: There's a comment, a summary from Michael Bentley from Euler, who says this. If there's one thing that's clear from recent events, Dow governance of lending protocols is not a great idea. Most people are simply not qualified in possession of sufficient information to determine appropriate risk parameters and complex protocols whose risks evolve in time. I should say Michael from Euler, of course, has a lending and borrowing protocol that does not require governance of this type. But I think he's making the commentary on some of the governance decisions in protocols like AaVE that allowed so much curve to actually be deposited into their protocol. There was votes about this. We talked about this last week, and the votes passed. Even though the CRV deposited was kind of very clearly owned, the vast bulk of it owned by one individual, there's some risk issues that fell out of that. Do you think that's a fair take from this entire episode? |
Speaker A: Yeah, I'm glad you asked, because I actually think that governance free protocols are a very core component of the bankless thesis of the protocol sync thesis. If we can do all of our decentralized financial activities without governance, then we ought to. Governance, I've always thought, is like a stop gap means to an end. And it's exactly what happened with Aave, where Gauntlet submitted a governance proposal saying, hey, there's risk here, you guys should take care of this. And Ave was like, no vote, no, 100% to zero, and then exactly what gauntlet feared would happen, would happen. And like, I talk, we talk shit about the Federal Reserve and their human control over the economy all the time, and then we juxtapose that with Ethereum, and it's algorithmic balancing dynamic monetary policy, and we applaud ether. And I think we should do the same for all of our governance applications. Should be looking to minimize governance as much as possible. That's my articulation of the bankless thesis. I don't know if you agree. |
Speaker B: Yeah, no, I totally agree that, like, governance is sort of a hack, but sometimes it's necessary. Like, sometimes you really need it, and sometimes you need it for kind of scalability. I mean, how could you do real world assets without that sort of governance? So I also think that governance will level up over time. So now in Aave and other lending and borrowing protocols, they'll see where this went awry. Maybe they won't make the same mistake in the future so long as they have skin in the game. That, I think is the main point. And so it's kind of different than the fed, who actually. I mean, what do they care about the decisions they make? |
Speaker A: Good point. Ave holders are being stuck with the bag, and the fed can do whatever it wants. That's a good point. |
Speaker B: This is interesting. David Phantom is exploring adding optimistic roll ups to connect to Ethereum. All right, you're laughing. Why are you laughing? |
Speaker A: Oh, it's because the l two thesis, man, dude, there are just like, I was sitting and reflecting upon this agenda and just over the last few weeks, there are some bankless theses that we have put forth that are coming true in the best of fashions. Like, it was one thing when the cello organization voted to move to a layer two, but now Phantom also looking at this and like, oh, we could become a layer two. And now if there's a meme that when you see memes about this stuff, you start, you know, that it is becoming deeply solidified in people's mind. Share what we are looking at is somebody has made a bingo card of all of the layer ones that could potentially become layer twos. Like, some things you probably haven't thought about in a long time. Stella iota iOS ve chain flow flux. Kanto eth classic. Would be hilarious. Tezos. |
Speaker B: Tezos will never do it. Never do it. |
Speaker A: You think so? Yeah, probably not. Near. Near might. Tron. Probably not. Anyways, we have cello and Phantom, so we have 1234-5525 I actually think Tron might. |
Speaker B: David. I could totally see Justin sun doing that. |
Speaker A: Maybe. Yeah, actually, that's a good point. Okay, so we've got 25 squares with 25 layer ones. Two of them are turned green because of cello and Phantom. Well, Phantom actually has to do it, so maybe we're at one and a half. But this has been a bankless thesis for so long, and I'm just. I just sit back and be like, sometimes theses just play out exactly how you expect. |
Speaker B: There's a David Hoffman victory lapping. |
Speaker A: I am victory lapping so hard. |
Speaker B: Well, I think. I do think this is a narrative to watch, right? Is which sidechain EVM side chain is going to become a roll up next. And that's what this is kind of articulating. This is a tweet from Sam Cz son, who's kind of the savior of crypto. A white hat. |
Speaker A: White hat of white hats. |
Speaker B: Yeah. White hat of white hat. That finds our issues before they happen in most cases. Over the past few days, I've been working with a group of white hats auditors and other security leaders to try and solve the hardest part of responsible disclosure, finding the right person to talk to. And he's got an image of the bat signal here. What's the take for this? Why are we including this in the agenda? |
Speaker A: So, this is a telegram bot is basically what's going on. So there is a telegram bot that anyone can use during emergencies to get in touch with trusted members of the security white hat community. So trusted white hat hackers and their extensive network of contacts. It's basically 911 for DeFi protocols. I actually think I'm so proud of Sam. Obviously, he doesn't need to be anyone any more proud of him. |
Speaker B: It's like 911 is. |
Speaker A: Yes, except it shows. It is an example of self regulation and self management of this own industry. Not only is it a public good, but it is also a sign of maturity for what needs to happen. If we are also going to have permissionless finance, I don't think we can. |
Speaker B: Make that point enough. Honestly. It's like the regulators look in and say crypto is completely unregulated and the crypto markets aren't doing anything about it. And then I look at things like this, it's like, no, we are doing exactly what you should be. |
Speaker A: You would never be able to do. |
Speaker B: You know what I also look at? You know what's another example of this is l two freaking beat. Okay? This is better than anything the SEC is or CFTC has ever put forward for disclosures in crypto is creating a staging process for how decentralized our layer twos are and creating a scoring that is the industry regulating itself. And I think that should be commended. So very cool to see Sam Cz doing that. David, this is also cool. Nearly $3 million in sales in the last 24 hours for draftkings, nfTs. I guess the theme this week is companies buying block space and using crypto. Right. So this is DraftKings. You know, DraftKings is a. It's a fantasy sports betting. |
Speaker A: Sports industry. Sports. |
Speaker B: They're in the sport. Yeah, sports fantasy betting deal. This is a. Let me show you. |
Speaker A: Stock. |
Speaker B: Have you ever. |
Speaker A: Oh, it's a public company. Wow. |
Speaker B: A public company. Draftsking is worth about $2 billion. Something like this. Twelve. |
Speaker A: $13 billion. $13 billion. |
Speaker B: No, $13 billion. 2 million in revenue. Still 2 billion in revenue last year. $13 billion. Sorry, I'm a little rusty on stock financials. Yeah. And they were, according to Sandeep here, they were the number one collection by sales volume on polygons. They beat bored apes, beat a lot of other things. |
Speaker A: So they beat bored apes on the Ethereum layer. One, $3 million in sales on Polygon, which is the number one of sales across the NFT industry in the last week. |
Speaker B: Wow. That's crazy. Right? And I don't even know about this because I don't. I pay no attention. |
Speaker A: I don't watch sports. |
Speaker B: It's very cool to see that that's bleeding outside of crypto culture, though. But going back to crypto culture. What's this from Frank de Godsen yeah. |
Speaker A: So Polygon gets a dub, but then also Polygon takes an l. Ute's gets yeeted from Polygon to Ethereum. So Ute's is 2d gods like mutant apes, r two board apes, basically the derivative project, same team ute's is like the expansion collection D gods ute's. They were a big NFT hit on Solana before migrating to Polygon. We actually had frank from D gods on the show to talk about this after moving from Polygon, from moving from Solana to Polygon. As the bear market wore on, economies shriveled up, including the Solana ecosystem. So Polygon gave a $3 million grant to Ute's to migrate to polygon specifically. So fast forward to today. Dgons has done well on ether layer one, and it actually has given the dgods y zero zero t's. Team ute's. Ute's. It's given them confidence that they actually can be a blue chip nft. On the ethereum layer one, they actually don't need polygon. So they are migrating from polygon to the Ethereum layer one. They're also returning the $3 million grant to polygon as well. And so that's the news. So from solana to polygon to ethereum. |
Speaker B: That sounds like just a pure business decision to me. What do you think? |
Speaker A: Yeah, that's right. Well, it also shows the gravity. Well, that is the Ethereum layer one. So, like, if the. The goal of all high value assets is to be on the Ethereum layer one. |
Speaker B: David, did you see this? This clip? This is a Joe Biden clip. You ready for this? |
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