WEBVTT 1 00:00:00.160 --> 00:00:03.720 Rock chain is actually the technology for new relationship like 2 00:00:03.839 --> 00:00:07.120 how people walk with people, how people walk with a company, 3 00:00:07.360 --> 00:00:10.080 walk with the association, even walk with the government. And 4 00:00:10.160 --> 00:00:14.320 the crypto is just acting as the connecting dots or 5 00:00:14.400 --> 00:00:19.359 connecting points, basically like a blood blowing into the entire ecosystem. 6 00:00:19.519 --> 00:00:21.800 And to make it live, the crypto is not designed 7 00:00:21.800 --> 00:00:25.079 for human, It's actually designed for machine. However, the most 8 00:00:25.120 --> 00:00:28.440 of the utility of the crypto is still between human 9 00:00:28.559 --> 00:00:29.000 to human. 10 00:00:34.520 --> 00:00:37.880 Hey, folks, welcome into the Thinking Crypto podcast. I'm your host, 11 00:00:37.880 --> 00:00:40.840 Tony Edward and my guest today is Sonny Lou who 12 00:00:40.920 --> 00:00:44.200 is the co founder and CEO of v Chain. Sonny, 13 00:00:44.200 --> 00:00:46.000 great to have you, Yeah. 14 00:00:46.119 --> 00:00:49.640 Thank you, TONI you know always coming, Always feel great 15 00:00:49.799 --> 00:00:51.280 to come back to your podcast. 16 00:00:51.799 --> 00:00:54.200 Absolutely, And you know I'm a big fan of v chain. 17 00:00:54.280 --> 00:00:56.880 I'm a VET token holder, and I'm excited to dive 18 00:00:56.920 --> 00:01:00.280 into the latest and greatest around v chain. And you 19 00:01:00.280 --> 00:01:02.159 know there's a lot happening in the market, so I 20 00:01:02.159 --> 00:01:04.519 want to get your thoughts on everything. I would love 21 00:01:04.560 --> 00:01:07.239 to kick it off with the hyabousa dev net which 22 00:01:07.280 --> 00:01:09.040 went live. Tell us about that. 23 00:01:09.840 --> 00:01:14.079 Oh yeah, actually it's it's a test net face. We 24 00:01:14.239 --> 00:01:17.680 leave like a three months before the official Higabuosa launch, 25 00:01:18.359 --> 00:01:22.760 So September second to September nine, that's a migration for 26 00:01:22.879 --> 00:01:26.760 the test dev net. We basically simulate everything for the 27 00:01:26.840 --> 00:01:31.280 men at and the you know, the official launch that's 28 00:01:31.560 --> 00:01:34.719 exactly three months later. That's gonna be a December second 29 00:01:34.760 --> 00:01:39.079 to December nine for the Hyabooza launch. So it went 30 00:01:39.280 --> 00:01:41.439 pretty well, and you know, we did all of the 31 00:01:41.480 --> 00:01:46.000 testing internally, and also you know, try the different type 32 00:01:46.040 --> 00:01:49.840 of migration and try the different type of situation. Make 33 00:01:49.879 --> 00:01:53.359 sure we know like how to respond in case anything 34 00:01:54.280 --> 00:01:57.000 other than we expect it, we can we can respond 35 00:01:57.000 --> 00:02:01.159 to that. Also. Right right now we're on the auditing phase, 36 00:02:01.599 --> 00:02:05.280 so we're getting a bunch of security auditors to auditing 37 00:02:05.519 --> 00:02:10.719 the codes, auditing the protocols, basically auditing everything. Spend quite 38 00:02:10.759 --> 00:02:15.280 a fortune on the securities. Roughly we can get the 39 00:02:15.319 --> 00:02:19.840 auditing rapport around the early October or mid October. If 40 00:02:19.919 --> 00:02:22.960 everything runs well, you know, good to go. If even 41 00:02:23.039 --> 00:02:26.680 we discover some small box or you know, something we 42 00:02:26.680 --> 00:02:29.439 could improve, we still have a roughly wine and a 43 00:02:29.479 --> 00:02:32.599 half month to fix it. So yeah, so far as 44 00:02:32.639 --> 00:02:34.560 you're good, I'm very confident about the launch. 45 00:02:34.919 --> 00:02:37.759 That's awesome, great progress there and looking forward to the 46 00:02:37.759 --> 00:02:40.479 future updates. So maybe we can run through some of 47 00:02:40.560 --> 00:02:45.080 the benefits of this update, right, such as I read 48 00:02:45.280 --> 00:02:49.360 v or, inflation goes down, block rewards earned only by 49 00:02:49.400 --> 00:02:52.120 staking VET and much more. Can we walk through some 50 00:02:52.159 --> 00:02:53.280 of the benefits. 51 00:02:53.280 --> 00:02:58.599 Oh, of course, I'm actually the high abooseize the main show. 52 00:02:58.759 --> 00:03:03.000 Let's say, you know Gladica, which launched in June. It's 53 00:03:03.080 --> 00:03:05.280 just a warm up, you know, there are some cool 54 00:03:05.680 --> 00:03:09.080 features where you mentioned about a visa or in Galatica 55 00:03:09.159 --> 00:03:12.240 as well. Firstly, more demands you know, one hundred percent 56 00:03:12.280 --> 00:03:16.000 of the transaction fees will be burned and also dynamic 57 00:03:16.000 --> 00:03:18.800 gas fees as a new feature has been produced into 58 00:03:18.840 --> 00:03:22.840 the Galadica, so which simply to say more demands more, 59 00:03:24.120 --> 00:03:29.000 you know, cutting the more consumption of the visword. Right, 60 00:03:29.120 --> 00:03:33.520 that's Galatica phase. But in the Hyabuza the main change 61 00:03:33.560 --> 00:03:38.719 will be firstly, insurance of the vessel will be greatly reduced. 62 00:03:39.520 --> 00:03:46.039 Even considering the current staking situation was staking level, we 63 00:03:46.159 --> 00:03:49.639 could roughly predicted, you know, forty to fifty percent of 64 00:03:50.840 --> 00:03:55.599 inflation rate will be reduced. And also the allocation that's 65 00:03:55.599 --> 00:03:59.319 a that's the most important thing. The allocation of the 66 00:03:59.439 --> 00:04:02.879 visa or the new issurance issued the visul will be 67 00:04:03.080 --> 00:04:08.039 only allocated to either validators or either delegators. No more, 68 00:04:08.280 --> 00:04:13.120 no more users. So basically, in simply words, to say, 69 00:04:13.199 --> 00:04:17.399 we're kind of burning the candle from both ends. Firstly, 70 00:04:17.480 --> 00:04:21.120 more demands, more burned, and also cut to the supply. 71 00:04:21.839 --> 00:04:24.800 I would say, yeah, could looking good for the visa 72 00:04:24.879 --> 00:04:25.720 or valuation. 73 00:04:26.839 --> 00:04:30.160 That's awesome. And then the other major news I'm really 74 00:04:30.199 --> 00:04:33.319 excited to talk to you about is V chain steaking 75 00:04:33.399 --> 00:04:37.079 or VET token steaking via stargate. Tell us about this 76 00:04:37.160 --> 00:04:38.000 and how it works. 77 00:04:38.319 --> 00:04:42.199 Yeah, well, the stargate is a tool basically not only 78 00:04:42.240 --> 00:04:45.959 for delegators but actually also for validators. So we launched 79 00:04:45.959 --> 00:04:51.279 the stargate in Galatica Galatica Pace in June, and you know, 80 00:04:51.399 --> 00:04:56.399 people love that and so far we had we already 81 00:04:56.439 --> 00:04:59.839 have more than twelve thousand NFTs representing the different level 82 00:05:00.319 --> 00:05:04.000 of delegators and some of the level delegators. Actually the 83 00:05:04.000 --> 00:05:06.920 big level, you know, with fifty million ves staking is 84 00:05:07.000 --> 00:05:10.639 quite a competitive. You know, I noticed that there are 85 00:05:10.839 --> 00:05:15.800 two minium node just getting available, and then just a 86 00:05:15.959 --> 00:05:20.360 few hours boom, it's gone like people just take it 87 00:05:20.800 --> 00:05:25.199 right because the high level of delegator that means high apui, 88 00:05:25.399 --> 00:05:28.399 so you know, people are really chasing after that. And 89 00:05:28.439 --> 00:05:34.040 also totally six billion vit staking coming from the delegators, 90 00:05:34.600 --> 00:05:40.319 so the stargate, we'll have the two point zero in December, 91 00:05:40.560 --> 00:05:45.160 right before the higaboos are launched. There are cool features introduced. 92 00:05:45.360 --> 00:05:48.600 Give an example, we're going to have more visibility in 93 00:05:48.680 --> 00:05:52.959 terms of the delegators staking, validator staking. Plus you know, 94 00:05:53.000 --> 00:05:55.720 the validator have a major change as well in the Hyabuja, 95 00:05:56.079 --> 00:05:59.519 so no more fixed twenty five minutes staking only you 96 00:05:59.560 --> 00:06:03.879 will beynamic, so people can choose from twenty five mini 97 00:06:04.360 --> 00:06:08.639 still maintain the minimum, but up to six hundred that 98 00:06:09.439 --> 00:06:12.199 so for sure moret taking, you will have more chance 99 00:06:12.519 --> 00:06:16.319 to produce the blocks. We're also getting more rewards and 100 00:06:16.439 --> 00:06:20.240 also there is a very interesting function we call boost 101 00:06:20.240 --> 00:06:23.439 the features. You know right now, when you mint the 102 00:06:23.560 --> 00:06:27.319 new delegator n FT, you gotta have a maturity time, 103 00:06:28.040 --> 00:06:32.120 right you got to wait for three days or twenty 104 00:06:32.560 --> 00:06:35.519 thirty days or forty five days up to sixty days 105 00:06:35.519 --> 00:06:40.360 for the highest staking. We realize it's kind of blocking 106 00:06:40.600 --> 00:06:43.279 some of the users when user doesn't really have a patience, 107 00:06:43.319 --> 00:06:46.600 which is quite common in the crypto word. So we 108 00:06:46.600 --> 00:06:50.879 we offer the boosting features so you can pay a 109 00:06:50.920 --> 00:06:55.839 certain amount of whatever visseel better VT to you know, 110 00:06:55.920 --> 00:06:59.439 getting the maturity time to shotting to be zero. That 111 00:06:59.519 --> 00:07:03.079 means you can do the delegation right away and also 112 00:07:03.600 --> 00:07:06.920 the same amount of the time you could use for 113 00:07:07.040 --> 00:07:10.240 the you know, waiting for the maturity, you can getting 114 00:07:10.360 --> 00:07:14.040 the rewards right away, and you are getting comparing what 115 00:07:14.120 --> 00:07:17.279 you're paying for the boosting, and you will get more 116 00:07:17.360 --> 00:07:21.639 reverse from the same amount of time. Let's put this way, 117 00:07:21.959 --> 00:07:26.519 and everything you paid to boost your maturity not going 118 00:07:26.600 --> 00:07:30.040 to be taken by anybody, including the foundation. You will 119 00:07:30.079 --> 00:07:33.879 be burned right away. So you're not just you know, 120 00:07:34.000 --> 00:07:37.439 speed up the process, but also you're contributing to the 121 00:07:37.480 --> 00:07:42.720 whole ecosystem valuation. Basically you are burning tokens by you know, 122 00:07:43.279 --> 00:07:47.680 enjoy the the reverse right away. That kind of you 123 00:07:47.720 --> 00:07:52.279 know use cases and in general speaking, the validator is 124 00:07:52.319 --> 00:07:57.360 actually for institutions. Even there are some let's say long 125 00:07:57.439 --> 00:08:02.879 term holders, some whales also they go through one of 126 00:08:02.879 --> 00:08:06.839 our community projects called Redino. You know, Retino already on 127 00:08:06.920 --> 00:08:12.040 board nineteen validators so far and they're still ongoing or 128 00:08:12.360 --> 00:08:17.399 major is for the institutions. So recently ki ROC actually 129 00:08:17.680 --> 00:08:22.279 set up the two validators to join the validator pool 130 00:08:22.800 --> 00:08:26.120 and delegator is more for the retail people. So as 131 00:08:26.199 --> 00:08:29.360 long as like like introduced last time, as long as 132 00:08:29.399 --> 00:08:31.360 you know how to operate the NFT and it just 133 00:08:31.439 --> 00:08:35.840 kicks youw buttons, then you become the delegators. You directly 134 00:08:35.919 --> 00:08:41.639 participate the decentralization and you're getting reverse without worrying. You're 135 00:08:42.559 --> 00:08:45.840 you know, without worrying the safety of your assets. So 136 00:08:46.000 --> 00:08:48.559 that's the best part of that's really great. 137 00:08:49.120 --> 00:08:51.600 You mentioned you know a lot of institutions can participate, 138 00:08:51.639 --> 00:08:56.279 can retail participate or directly or directly, Well. 139 00:08:56.120 --> 00:08:59.559 That's that's also part of a plan and deliverables in 140 00:08:59.679 --> 00:09:03.720 terms of the institutional institution on boarding. Right, So recently 141 00:09:03.919 --> 00:09:06.960 we onboard the Big Go and we also have a 142 00:09:07.080 --> 00:09:11.120 Retino as you know from the community as a smaller platform. 143 00:09:11.919 --> 00:09:14.879 So if as a user, let's say, there are there 144 00:09:14.879 --> 00:09:19.159 are two ways either you you wanted to staking to 145 00:09:19.559 --> 00:09:24.320 the service provider like bigg and join them to as 146 00:09:24.360 --> 00:09:27.919 a whole join the BIGOS validator. Let's put this way, 147 00:09:28.480 --> 00:09:32.320 or you can retinal do it providing a similar service, 148 00:09:32.759 --> 00:09:35.159 or you can hold in your assets as long as 149 00:09:35.200 --> 00:09:37.440 you manage to get more than twenty five minut aad. 150 00:09:38.080 --> 00:09:43.159 You can use retino as a validator as a service. Well, 151 00:09:43.360 --> 00:09:46.399 actually I heard Bigo is offering the same thing. It's 152 00:09:46.399 --> 00:09:50.399 called they have a product it's called bring your own Validators, 153 00:09:50.679 --> 00:09:54.759 which means you as an asset owner, you still control 154 00:09:54.759 --> 00:09:58.440 your assets, right, you have your VT in your wallet, 155 00:09:58.879 --> 00:10:02.759 but you basically to delegate to somebody or indorse, some 156 00:10:03.399 --> 00:10:06.919 no operator to run the validator together. So we call 157 00:10:06.919 --> 00:10:12.080 it the indorser plus no operator and group together. You 158 00:10:12.080 --> 00:10:16.279 can have validator round. Sure, you gotta spare, you got 159 00:10:16.360 --> 00:10:19.000 to pay some of the some of your earnings through 160 00:10:19.000 --> 00:10:23.840 the service fees, right, but still it's it's low entry 161 00:10:23.879 --> 00:10:27.120 for anybody wants to be the validator or simply you 162 00:10:27.159 --> 00:10:28.240 can just be a delegator. 163 00:10:28.600 --> 00:10:31.320 That's really great. Yeah, that's something I personally want to 164 00:10:31.320 --> 00:10:33.240 look into, So I'm going to explot that. 165 00:10:34.240 --> 00:10:36.559 Yeah, yeah, yeah, very cool. 166 00:10:36.799 --> 00:10:39.480 And then recently there was an announcement of v Chain 167 00:10:39.559 --> 00:10:42.360 partnering with Franklin Templeton, which is a huge brad frat 168 00:10:42.480 --> 00:10:46.240 excuse me huge Tradify institution. Tell us about that partnership 169 00:10:46.279 --> 00:10:47.440 and how you be working together. 170 00:10:48.759 --> 00:10:51.960 It's kind of hard actually, you know, you know all 171 00:10:52.000 --> 00:10:55.320 of the pr policy. Actually today we read about the 172 00:10:55.320 --> 00:10:58.039 news Franklin Tempting to have a full collaboration with the 173 00:10:58.080 --> 00:11:02.200 Bannis as well. Right, it's I always say it's part. 174 00:11:02.279 --> 00:11:07.120 It's quite unnatural, you know, following the institutions on boarding 175 00:11:07.639 --> 00:11:12.000 for the more clarity in terms of regulations, those serious 176 00:11:12.240 --> 00:11:14.799 players coming from the Wall Street. As we discussed the 177 00:11:14.840 --> 00:11:19.159 last time, it's inevitable. The trend is inevitable. So for us, 178 00:11:19.679 --> 00:11:24.399 we're actually working on several different partnership with a Franklin Tempting. 179 00:11:24.720 --> 00:11:28.559 What we can say today, let me see is we 180 00:11:28.639 --> 00:11:33.080 are on boarding the enterprises to be the Franklin Tempting 181 00:11:33.960 --> 00:11:36.840 clients as well. We go to the market together. Also, 182 00:11:37.080 --> 00:11:40.960 for sure we're gonna leverage with blocks technology coming from Vchin. 183 00:11:41.240 --> 00:11:44.000 We're gonna use the VCHIN blocking as well. It just 184 00:11:44.159 --> 00:11:48.039 like we didn't finish that yet. So from Franklin Tempting, 185 00:11:48.080 --> 00:11:50.279 they were like, okay, we're gonna We're gonna be very 186 00:11:51.679 --> 00:11:54.000 I would even call it the conservative a bit, you know, 187 00:11:54.120 --> 00:11:56.759 they want to play safe. They don't get any trouble 188 00:11:56.799 --> 00:12:00.639 from SEC. So that's why they say, okay, well it's down, 189 00:12:00.879 --> 00:12:04.080 then we can make a proper announcement. But we definitely 190 00:12:04.240 --> 00:12:07.120 looking for long term relationship with Bitchen. We're gonna go 191 00:12:07.159 --> 00:12:11.080 to the market together. But the freaking attempting just represent 192 00:12:11.360 --> 00:12:14.960 one of the examples, right, Like I said, we have 193 00:12:15.759 --> 00:12:18.840 we have a we have a several category in terms 194 00:12:18.840 --> 00:12:23.639 of institutions. We do have like a long term investor 195 00:12:23.960 --> 00:12:27.279 like a key Rock and the validators. Ki Rock also 196 00:12:27.320 --> 00:12:30.879 do the validators. Actually we have a few institutions on 197 00:12:30.919 --> 00:12:33.799 the pipeline in the pipeline as well. And also we 198 00:12:33.840 --> 00:12:37.440 have a service provider like Bigo. They provide a taking 199 00:12:37.440 --> 00:12:41.960 service to the retail to the institutions they provide bring 200 00:12:42.000 --> 00:12:45.799 your validators, like I just said, so allow you know, 201 00:12:45.879 --> 00:12:50.240 even the retail people can without technical capability to run 202 00:12:50.279 --> 00:12:53.159 a server, they still can be part of the validator 203 00:12:53.200 --> 00:12:57.000 program enjoy the APIs. And also some of the service 204 00:12:57.080 --> 00:13:02.320 provider like the tie you know, they have the terminal 205 00:13:03.279 --> 00:13:06.840 to integrate which actually is done already with v chain 206 00:13:07.399 --> 00:13:11.279 integrateed with vchin blockchain, so they can provide the business 207 00:13:11.360 --> 00:13:15.559 insights coming from whatever the data over the Vichin blockchain 208 00:13:15.919 --> 00:13:21.320 to give more visibility to institutional investors. So simbody to say, 209 00:13:21.840 --> 00:13:26.080 you know, we down the key Rock, Big Go, the 210 00:13:26.120 --> 00:13:30.639 Tie Franklin tempton. There are also bunchs of you know, 211 00:13:30.759 --> 00:13:34.080 institutions on board, which is kind of fitting into the 212 00:13:34.120 --> 00:13:40.200 whole market vibes right now. You know, from retail to institutions, 213 00:13:40.240 --> 00:13:42.840 that's the main scene for the crypto market right now. 214 00:13:43.440 --> 00:13:47.360 Yeah, it's amazing, Sonny, since you know, the genius actors 215 00:13:47.399 --> 00:13:50.240 passed this current administration here in the United States is 216 00:13:50.320 --> 00:13:53.000 very pro crypto. We've seen a lot of big names, 217 00:13:53.000 --> 00:13:55.000 some of the biggest banks coming out saying they want 218 00:13:55.000 --> 00:13:58.480 to launch crypto trading, launch their own stable coins, tokenizing. 219 00:13:58.799 --> 00:14:01.399 It's amazing how many institutions are here now. 220 00:14:01.639 --> 00:14:05.200 Yeah, the trend is inevitable. I was saying, you know, 221 00:14:05.639 --> 00:14:08.919 the crypto marketing now just sitting at four trillion dollars 222 00:14:08.960 --> 00:14:12.200 as a whole, right big coin is two points something. 223 00:14:13.279 --> 00:14:18.320 But I always say it's inevitable. Let's say, institution is 224 00:14:18.320 --> 00:14:21.399 going to be the main force to push up to 225 00:14:21.480 --> 00:14:25.639 the entire crypto market to another level. And also we 226 00:14:25.799 --> 00:14:28.840 heard about all of the news like d A TS 227 00:14:28.879 --> 00:14:32.279 like the collaboration between Franklin Tempt and the Biness and 228 00:14:32.480 --> 00:14:38.440 also even the arkings Uh the chair of SEC made 229 00:14:38.440 --> 00:14:42.159 a point in Paris saying like, oh, we'll welcome to 230 00:14:42.679 --> 00:14:48.519 super app, you know, to aggregate the treating the liquidity, 231 00:14:48.639 --> 00:14:51.240 the borough and lending all of the different type of 232 00:14:51.320 --> 00:14:56.240 services into you know, for for the future of the crypto. 233 00:14:57.120 --> 00:14:59.919 But also on the other side, I would say, based 234 00:15:00.080 --> 00:15:03.960 on the recent conversation with many institutions, I think what 235 00:15:04.080 --> 00:15:07.759 we're missing in the entire crypto world. You know, we're 236 00:15:07.799 --> 00:15:10.159 doing that, but we're kind of one of a very 237 00:15:10.159 --> 00:15:15.720 few is really driving for mass adoption by utility driven 238 00:15:16.159 --> 00:15:21.600 like why people use crypto? Right, why people access holding 239 00:15:21.600 --> 00:15:25.639 the crypto or what do you really invest for? I mean, 240 00:15:25.960 --> 00:15:29.440 sure everybody looking for profits, looking for you know, old 241 00:15:29.519 --> 00:15:32.679 go and see them coming up. Honestly, I think it's 242 00:15:32.879 --> 00:15:36.240 very soon. We know the Federal Reserve is going to 243 00:15:36.279 --> 00:15:39.000 cut the interest that's like ninety nine percent of the 244 00:15:39.120 --> 00:15:42.399 chance for sure in the midle of September. So it's 245 00:15:42.480 --> 00:15:45.799 clear signal following the previous pattern, that's a clear signal 246 00:15:46.240 --> 00:15:50.879 the boom market is coming up. But also from the 247 00:15:50.960 --> 00:15:55.200 investor perspective, what do you really invest, what kind of 248 00:15:56.080 --> 00:15:58.840 value or what kind of the utility those projects are creating? 249 00:15:59.559 --> 00:16:04.679 And the funny thing is very interesting, I discover most 250 00:16:04.720 --> 00:16:08.600 of the projects actually getting crowded in a similar track, 251 00:16:09.200 --> 00:16:13.480 you know, payment stable going, you know, DVI verticals. But 252 00:16:14.000 --> 00:16:17.759 following another thought, we believe blockchain is going to be 253 00:16:18.039 --> 00:16:22.080 the Internet two point zero or the Internet, you know, 254 00:16:22.159 --> 00:16:24.559 the next generation of the Internet. That's why we call 255 00:16:24.600 --> 00:16:28.039 the web strate from web one, Web two webs rate right, 256 00:16:28.360 --> 00:16:32.039 So it must be. It cannot be just narrow in 257 00:16:33.480 --> 00:16:38.720 finance work. It must be every industry is so I 258 00:16:38.759 --> 00:16:41.120 a would say, our narrative, what we are ever to 259 00:16:41.759 --> 00:16:45.159 what whatever we're trying to do, you know, from the 260 00:16:45.320 --> 00:16:51.360 enterprise adoption to the sustainability angle to drive the individual adoptions. 261 00:16:52.279 --> 00:16:55.039 It's you know, this is going to be a god 262 00:16:55.080 --> 00:16:59.039 for the next waves. It's just you know, following the logic. 263 00:16:59.399 --> 00:17:03.879 Financial piplication is very I'm not saying easy, but it's 264 00:17:04.000 --> 00:17:07.039 very clear, right, and there are loads of the use 265 00:17:07.079 --> 00:17:11.359 cases already. But everybody is trying to do the same thing. 266 00:17:12.079 --> 00:17:15.519 I think it's a question mark for me. But we 267 00:17:15.599 --> 00:17:18.440 do have our unique position and we're getting more and 268 00:17:18.519 --> 00:17:23.599 more attractions, you know from the institutions. They were like, 269 00:17:24.119 --> 00:17:26.799 oh yeah, you know, I like this kind of story. 270 00:17:27.240 --> 00:17:31.240 I like long term thinking, like the user grows from 271 00:17:31.359 --> 00:17:34.799 your ecosystem. And by the way, the V Better just 272 00:17:34.880 --> 00:17:37.960 reached to more than five minute users right now and 273 00:17:38.480 --> 00:17:43.799 forty six applications. I think it's almost doubled up since 274 00:17:43.880 --> 00:17:46.640 last time we talked. And we still get eight to 275 00:17:46.759 --> 00:17:51.160 ten in the pipeline always so. And as a results, 276 00:17:51.240 --> 00:17:55.559 as an impact, there are total thirty six million actions 277 00:17:55.599 --> 00:17:59.319 coming from those five minute users, you know, in acumulated way. 278 00:17:59.839 --> 00:18:02.440 And you know, we get super exciting about this type 279 00:18:02.440 --> 00:18:06.640 of redults, and the institutions getting super excited about these 280 00:18:06.720 --> 00:18:11.359 type of redults. So I would say, you know, it's 281 00:18:11.400 --> 00:18:13.720 just a matter of time, and we just keep doing 282 00:18:13.759 --> 00:18:16.119 what we're doing and our time is coming. 283 00:18:16.839 --> 00:18:18.799 That's awesome. Yeah, I was going to ask you, you know, 284 00:18:18.880 --> 00:18:24.079 speaking utility, how is be Better vworld and and utility 285 00:18:24.119 --> 00:18:25.559 on that side. So it sounds like there's a lot 286 00:18:25.559 --> 00:18:27.440 of adoption, a lot of growth in users. 287 00:18:27.839 --> 00:18:31.519 Yes, like I said, five million users for the six applications, 288 00:18:31.720 --> 00:18:37.559 soty six million impacts or actions. And recently we just 289 00:18:37.640 --> 00:18:41.559 launched a new program to even give another boost up. 290 00:18:42.200 --> 00:18:46.039 We could a v funder program. And also I start 291 00:18:46.119 --> 00:18:48.920 with my letter, I promised I didn't use the AI 292 00:18:49.400 --> 00:18:52.480 to write this letter. It's all by me, oh, by myself. 293 00:18:52.799 --> 00:18:57.119 So basically, I you know, I reflecting. I use all 294 00:18:57.160 --> 00:19:00.519 of my experiences to be a funder. I've been a 295 00:19:00.559 --> 00:19:04.759 founder for ten years. You know, time really flies. So 296 00:19:05.640 --> 00:19:08.799 we find out the biggest challenge is no more just 297 00:19:09.000 --> 00:19:13.319 technical like how do you build the small countract? How 298 00:19:13.359 --> 00:19:16.960 do you deliver applications? That's actually quite a easy part, 299 00:19:17.319 --> 00:19:21.319 especially with support from AI, different type of AI agents. 300 00:19:21.720 --> 00:19:26.119 It's getting much much easier. However, the biggest challenge so 301 00:19:26.240 --> 00:19:28.359 far to most of the founders, to most of the 302 00:19:28.359 --> 00:19:32.039 applications is how do you grow your users? How do 303 00:19:32.119 --> 00:19:36.640 you iterate your products? You know, I share my philosophy 304 00:19:37.640 --> 00:19:41.599 as a founder to all of the entrepreneurs, to all 305 00:19:41.640 --> 00:19:44.759 of the founders in the Vigian community, I said, we 306 00:19:44.839 --> 00:19:47.920 have a three rules. Number one, you got to pick right. 307 00:19:48.400 --> 00:19:53.559 You got to find the right track, right industry, right, whatever, AI, whatever, crypto, 308 00:19:53.839 --> 00:19:56.599 that's a right for sure. No one would have questioned that. 309 00:19:57.319 --> 00:20:01.000 And also you've got to choose long meaning when you're 310 00:20:01.400 --> 00:20:04.880 facing the tough divisions like Okay, which way I gotta choose? 311 00:20:05.279 --> 00:20:09.000 You always think from the loan perspective, long wave perspective. 312 00:20:09.720 --> 00:20:13.440 But even you pick right, you choose loan, you still 313 00:20:13.480 --> 00:20:15.599 need to iterate extremely fast. 314 00:20:16.000 --> 00:20:16.279 Yeah. 315 00:20:16.359 --> 00:20:19.480 Right, So most of the we find the most of 316 00:20:19.519 --> 00:20:24.400 the common challenges to those founders. It's no more just 317 00:20:24.880 --> 00:20:30.279 individual developer, build the application and naturally attract to the users. No, 318 00:20:30.640 --> 00:20:33.319 you got to operate that. You got to do marketing, 319 00:20:33.640 --> 00:20:36.079 you got to do fund raising, you got to engage 320 00:20:36.079 --> 00:20:38.680 with the users, you got to manage the communities. There 321 00:20:38.680 --> 00:20:42.279 are many other stuff. So we launched the v funder 322 00:20:42.319 --> 00:20:47.480 program to give another actual support looking for real builders, 323 00:20:47.799 --> 00:20:51.319 real entrepreneurs could build the application to grow with us together. 324 00:20:52.079 --> 00:20:56.440 So yeah, yeah, I love that As an entrepreneur myself, 325 00:20:56.480 --> 00:20:58.799 I love that that you're kind of helping to incubate 326 00:20:59.519 --> 00:21:02.880 and helping entrepreneurs and navigate the way. And and you 327 00:21:02.920 --> 00:21:05.440 said this with BCG that's Boston Consulting Group. 328 00:21:05.559 --> 00:21:08.960 Oh yeah, yeah, yeah. BCG also play quite an important 329 00:21:09.039 --> 00:21:12.480 role into that. Basically, we designed the v Founder program together, 330 00:21:13.559 --> 00:21:17.920 you know, we we actually start with the three applications. 331 00:21:18.400 --> 00:21:22.880 So basically it was developer and delivered with BTG together, 332 00:21:23.039 --> 00:21:26.759 So Beach and Foundation BTG together we delivered delivered the 333 00:21:26.839 --> 00:21:30.680 three applications you know, with a with a starting package, 334 00:21:30.960 --> 00:21:33.880 which means we already got listed in the VBA LAAU, 335 00:21:34.519 --> 00:21:38.319 we already got the codes delivered. We already got a 336 00:21:38.400 --> 00:21:41.559 certain we call it a C users not much a 337 00:21:41.559 --> 00:21:45.559 few southerns. And also we even finished the integration with 338 00:21:45.599 --> 00:21:49.680 the AI agent to verify your actions. Right, so it's 339 00:21:49.680 --> 00:21:52.640 it's running. It's already over there. And even with some 340 00:21:52.799 --> 00:21:58.200 of the let's say possible future business model designed also 341 00:21:58.440 --> 00:22:02.200 code designed bit between us and the BTD together, so 342 00:22:02.519 --> 00:22:06.799 it's it's like we alreadys serve you the prem made dishes. 343 00:22:07.279 --> 00:22:10.039 What you need to do is just uh, you know, 344 00:22:10.119 --> 00:22:12.400 putting the microwave and heat it up and you can 345 00:22:12.440 --> 00:22:16.640 start to eat. So so we we're going to continue 346 00:22:16.640 --> 00:22:19.440 to do that, you know, to uh, let's say, whatever 347 00:22:19.519 --> 00:22:23.799 is coming from our departory like a PCs or products 348 00:22:23.880 --> 00:22:26.920 or even some of the enterprise opportunities. You know, we're 349 00:22:26.960 --> 00:22:29.880 getting more and more inquiries from the enterprises as well, 350 00:22:31.119 --> 00:22:34.240 even some of the enterprise opportunities we can put into 351 00:22:34.319 --> 00:22:38.799 the v funded program, you know, and getting anybody is interesting. 352 00:22:38.960 --> 00:22:43.640 Devote themselves to the growth of the ecosystem, your own applications. 353 00:22:44.000 --> 00:22:46.920 Then it's free for you. So it's better than just 354 00:22:47.000 --> 00:22:51.759 give like one hundred grand for the ground program. And 355 00:22:52.039 --> 00:22:56.200 you know, money plays one thing, but also we're looking 356 00:22:56.240 --> 00:23:01.759 for real builders, really devote themselves to builder stuf. Absolutely. 357 00:23:01.960 --> 00:23:04.880 Yeah, I love it. And I feel like there's going 358 00:23:04.920 --> 00:23:06.799 to be a lot of people who are going to 359 00:23:06.839 --> 00:23:09.200 be looking to web three to transition from web to 360 00:23:09.279 --> 00:23:11.519 Web three, a lot of developers, a lot of entrepreneurs. 361 00:23:11.920 --> 00:23:14.279 So it's great that you're making it easy for them 362 00:23:14.319 --> 00:23:17.000 to do that because some of this can be intimidating, 363 00:23:17.160 --> 00:23:18.839 and you know it's brand new, but if you can 364 00:23:18.880 --> 00:23:21.119 make it easy, it's yeah, it's great. 365 00:23:21.599 --> 00:23:25.279 Yeah. And also the other strategy the focus is, you know, 366 00:23:25.319 --> 00:23:28.400 getting the infrastructure more and more ready. The last time 367 00:23:28.440 --> 00:23:31.720 we talked, I think it was March or somewhere, Yeah, 368 00:23:31.720 --> 00:23:34.599 around the March. Yeah, I think it's another test that 369 00:23:34.680 --> 00:23:38.480 have face for Galactica. When we talk about that, we said, okay, 370 00:23:38.480 --> 00:23:41.839 we're going to on board those custodias, you know, infrastructure 371 00:23:41.839 --> 00:23:45.599 service providers to ease adoptions. Right now, We've got Big Go, 372 00:23:45.759 --> 00:23:49.119 we got Key rock, we got the Redino. We still 373 00:23:49.119 --> 00:23:52.079 have a mini in the pipeline. But on the other side, 374 00:23:52.599 --> 00:23:55.839 you know, try to from the angle like how to 375 00:23:56.079 --> 00:24:00.000 make it easier for whatever is a small startup or 376 00:24:00.039 --> 00:24:03.720 big enterprise to join the v better doubt or you know, 377 00:24:04.160 --> 00:24:07.960 doing any kind of application in the ecosystem. So in 378 00:24:08.039 --> 00:24:11.880 terms of social logging, in terms of the wallets, in 379 00:24:11.960 --> 00:24:15.880 terms of custodient service, custudent licenses, those are things who 380 00:24:15.880 --> 00:24:18.519 are still working on that and getting pretty much very 381 00:24:18.559 --> 00:24:22.400 close to get it down. And then for anybody whatever 382 00:24:22.440 --> 00:24:27.160 your traditional enterprise or individual developers or even a small 383 00:24:27.160 --> 00:24:31.599 startup when you try to join, even you said, oh, 384 00:24:31.640 --> 00:24:34.119 I don't know anything about a crypto, I don't know 385 00:24:34.200 --> 00:24:37.400 how to build a smart contract. I don't need to 386 00:24:37.720 --> 00:24:40.759 I don't know how to build the API API to 387 00:24:40.920 --> 00:24:45.759 call the transaction here and there based on my application logic. Well, 388 00:24:46.000 --> 00:24:49.680 you can use some established the infrastructure tools to do 389 00:24:49.720 --> 00:24:52.839 that and they will you know, make the entry point 390 00:24:52.920 --> 00:24:58.160 even lower. So that's that's everything we do. It's actually 391 00:24:58.319 --> 00:25:04.200 served to onboard more more entrepreneurs and they were looking 392 00:25:04.319 --> 00:25:08.839 very much about they success because they success put them together. 393 00:25:09.160 --> 00:25:11.559 That's reaching success simple. 394 00:25:11.799 --> 00:25:17.039 Absolutely well said. Also, I know from my show notes 395 00:25:17.039 --> 00:25:21.039 here that potentially you're working on an AI roadmap, tell 396 00:25:21.079 --> 00:25:23.160 us a bit about how you're going to integrate AI 397 00:25:23.319 --> 00:25:24.720 AI agents and much more. 398 00:25:25.200 --> 00:25:29.960 Yeah, actually, thats gonna be next Monday, maybe by this 399 00:25:30.519 --> 00:25:33.319 podcast has been released. You know it's already there, right, 400 00:25:33.720 --> 00:25:38.720 so I welcome everybody to check it out. That's let's say, 401 00:25:39.240 --> 00:25:41.480