Yo-yo, yo, what up? What up?
Good morning, Good morning. GMG.
Thursday, February 6th, more like January 37th, 37th.
January 37th, 2025. Look at that.
Another beautiful day to have a beautiful day.
I got my coast in the house. Tyler Mandel, good morning.
Good morning. Good morning, good morning.
How you doing today? GM, can you hear me?
Yeah, we actually hear you very well today.
Fantastic. Because you're speaking into the
microphone. Love that.
Look at that. We're going to get you on these
SM7BS, bro. I've been trying, but I know
Portugal's tough to to procure some new equipment, you know, so
maybe I have to just bring it to in France or something.
But you know, I got it. One of these.
They're so smooth. I'll bring you one of these too.
I go on for you too, Tyler. You know, rug radio box at the
bottom. You know, I got him here, got
him here. I got him here on my right.
Tyler, how you doing today? I'm good bullish news is pours
in. We we got a big launch today,
but it doesn't matter. Coins are just slowly bleeding
out every day. At least maybe this is the
opposite of the last few weeks, where Thursday was the local
high, then we were down. Maybe, Maybe.
Does that mean we pump Mondays Now?
I'm not mad at that. I think the weekends off, you
know, could be, it could be pretty nice, I'm not going to
lie. Anyways, today on the show today
as usual. So market reports.
Let's start with this market. I don't even know what they're
saying with this market as it's chopping, but we'll we'll leave
Manda to it. We have Tyler's top 1000 big
launch date, Bear chain. Bear chain with main that this
morning, very successful launch. It appears that it opened above
what it went up with 1213 billion.
Could be more, could be last right now, I have no idea.
I have to look, but it's very successful launch on that front.
We have a guest coming on today, Bread guy.
Bread guy's coming to talk about mega ETH.
Oh yeah, you saw the news couple days ago.
They're all over the place, so really curious to ask him a few
questions here about what's going on with that and and how
to participate in how our listeners can best, you know,
make the most out of mega E right.
We definitely to get back and getting all this guess on.
And then last but not least, of course, a robot loot box spin.
Let's see who wins some money today.
Hopefully you guys gonna win something.
I'm gonna I'm gonna play around with the box.
OK, during the show, try and see what I can do for you all on
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Bando, what's going on market? Who is the man's back of Daddy
of the man. Can you dig it?
Jam everyone. So let me just turn that down a
little bit, a little bit too loud, I would say.
Yeah, not a not a great day if you're in anything but Bitcoin,
really Bitcoin is, it's kind of bounced for us, kind of
unchanged from where we did the show.
Unchanged, really. Yeah, Bitcoin dominance, though,
is up to 62% basically. Now, it's not a pretty fucking
chart, that one. Wow.
If you're bullish on altcoins, this has been like a point of
resistance, it seems. So maybe, maybe, maybe that
turns around. But but that is the number one
trend in crypto right now is the big condominance is going
higher. The majors are holding up OK,
even in that world. Like it's not like Ethan Solano
are down a lot. They're just kind of down a
little bit maybe, but it definitely feels like Bitcoin is
taking the majority of the liquidity and crypto.
And then I think this is Billish headlines for for Bitcoin a lot
now, like again, another state looks like it's going to New
Mexico, I think pass some sort of Bitcoin reserve or it's going
to have a Bitcoin reserve bill. But up for for vote now the
check the check central bank policy passed and now they're
now moving towards putting some of their reserves into Bitcoin.
And this is also a world where gold is hitting all time highs
as well. Just on the on the back of, you
know, worries about trade wars, just worries about stocks in
general. So Bitcoin is holding up very,
very well and versus versus the rest of the market, it is a bit
of a bloodbath. I would say actually it's more
than just holding out well like we have.
I show you your tweet this morning, Tyler, which is like
$45 billion of meme coin market cap has been erased in three
weeks, which is kind of wild. The cookie.
What? Yeah, Cookie dot Fun has has AI
memes obviously, or AI agents going down to six, just above 6
right now. And that's where the majority of
the losses are. If I look down the list, like
AI16Z is actually hitting like new lows versus where it was on
the weekend. Same for Ark Griffane AXPT, like
we're basically at or through the lows that we saw on the big
liquidation wig, so. Griffin's 140.
If you decided to buy AI on the dip, yeah like far coin down to
450 virtuals is holding on to $1.00 but feels like it go below
that any moment. Zero bro 45.
Yeah. Like we are, we are breaking out
to new lows across the board. There.
Wow. Yeah, yeah, pretty, pretty wild,
I would say because it felt for for a short while at least that
that was going to be the strongest sector on the bounce
or amongst the strongest sectors in the bounce.
It now really doesn't feel good. And it's it's not just the
utility coins as well, like far coin like I said, which is which
has really been the the coin of the last few months, right.
I mean that was at 2.7 billion, now it's at 450 million and
that's. Yeah, it's wild.
That is, that is wild. That's a goat like candle right
there. What a dip, jeez.
Wow, 80% from tops. That's not even the top, right.
The top was actually. Yeah.
But I mean it was 7. It's, it's flashed there.
But yeah, we could count it from there if you want 82%.
Yeah, see a pretty wild move across the board.
Meme coins are are also lower, but they they'd obviously been
decimated kind of before that already.
I think AI held up and is now seeing very similar sort of
price move lower that we maybe saw in meme coins a month or two
ago. So yeah, like even Pepe for
example, it's kind of under has lost a digit there which isn't
or gained a good digit even which isn't, which isn't a good
luck. The strongest bits of the
market, there's not a lot out there today.
Even the revenue producing protocols are lower.
Hype is back down, 24 JLPS obviously held up OK, but
slightly different sort of protocol gaming meme coins have
been relatively strong. It's the story of today is
literally the the gaming meme coins.
So funny I was looking. Tron is probably the the
strongest L1 at the moment, which isn't Bitcoin.
Obviously that's making a ton of money too, and we've spoken
about that several times. Wow, wow, wow, wow, wow.
Look, that's carnage. Carnage, carnage.
Carnage and the odds Carnage. Yeah, it's definitely weak,
definitely weak out there. I think a lot of people are just
like, well, if this is going to be a six month chop, I don't
want to own anything but Bitcoin you.
See this thing? Where is it?
I continue to like the revenue reducing.
Oh, see this, it's, it's, it's, that's just the general sense of
stuff. So Bitcoin dominance, Bitcoin
dominance just doesn't look like it's being questioned.
No, it's. Maybe a point of resistance
here? The like to get above 62 but.
But it's what's this wig here? This is so nuts.
Look at this this. Wig.
That was when Eve went down to 2000.
It was the flash. OK, wow, what a let's look at
total 3 chart real quick, which is Bitcoin total three.
If there's a noise every it's a it's the crypto total market cap
excluding Ethereum and and bitcoins.
It's the altcoin chart. And Solana, right?
Close and so right or is it OK? And so, yeah.
Yeah, that's total three. That's total 2.
Yeah, total three. Yeah, total three.
Yeah, sorry. And Solana.
So this is what it's at. Wow.
Yeah. And that doesn't look terrible
to me. Doesn't look terrible.
It could look bottomed out to me, but I hate calling bottoms,
you know what I mean? Like, it's like a dangerous
thing to do here. We just look at all charts and
are bullish though guys, that's the thing.
And I I can we pull up. Some bullish charts please for.
What? What?
What bull? I mean, yeah, I could.
Pull you a Bob chart. Here I'll pull you a bullish
chart. Yeah, Bitcoin looks OK.
I'll pull you the most bullish chart in crypto, literally.
So this is the range that you know, this is the infamous range
that we're in. We're literally halfway.
We're in mid range right now. This is a bullish chart.
You want to buy the bullish chart?
Pull up the fucking bear chain chart.
Bring up Bitcoin dominance. That's a bullish.
Chart You want a bullish chart? Here's your bullish chart.
JLP. Is JLP bullish chart?
Always let. Me see?
Oh it's a 44% APY D. Jens are gambling dude.
I love it. You guys should have used perfs
on J on Jupiter. JLP is on is on trading view by
the way, if you want to find it. Oh, it's true.
Why do I always go there to look?
I don't know, I guess because on the main website here it is a
bullish. I mean, yeah, this is a bullish
chart. Here you go, bullish chart this
SPXSNP chart. That's good.
What else?
What? What bullish chart do you want
me to pull up? I'm I'm.
If you want. Yeah, I'm sticking to BTCD.
It's just for the look of it. So we had Bob Lucas share.
Give us some hope in this. This morning he said that he
thinks. Mike Quant.
Quant will continue to range chop down, probably see like 88
over the next three weeks before resuming a leg up.
We're getting there, dude. So we'll, we'll see.
He, he lays out a couple paths. Basically one will reach up, up
and one will reach up, down. I feel like consensus is
definitely that we chop down. Consensus is definitely that we
worked out. Everybody wants that.
Apparently everyone in the timeline just wants Max Payne.
One my meme coin tweet. You'll never find a group of
people who want to see an entire sector go to 0 like like you do
in crypt. What so which tweet is this?
Because I, I got your notifications on dude, but you,
you do tweet a lot. So I'm trying to find.
There it is. The next one, yeah.
D $44 billion. That's why people are not happy
on the timeline. People are like, oh, bitcoin's
up like why is nobody happy dude?
This is why, like, everybody's in this.
Half of my comments are send it all to 0.
It's like, OK, like you want Dogecoin to go to 0 like you
want Pepe to go to 0 like. Yeah, I agree.
I I, I could agree with that. Fuck this guy does make a good
point though. I.
Didn't see any upnl screenshots for the most part.
Dude just go ask watch King if he had his best month or not and
he'll tell you he had his best month in business.
Watching UPNL, that's people who sold and then took their cash
into watches well. What does that mean?
Right, I don't. Isn't that a top say that you
think? Yeah, anyways, clearly it's it's
down a lot from from top. Pull us back to Bitcoin.
We got some breaking news. Brooke.
I sent you a couple links. Did we?
So this morning we saw that Trump media had filed trademarks
for these for these ETS, Bitcoin Plus Made in America.
But now there's more information, it looks like they
are actually plan like have plans to launch these, which I
think is the logical conclusion, but we have that next detail.
So a made in America ETF, Bitcoin plus and then US energy
independence. I don't what is an SMA?
I'm not actually familiar with that.
Oh, separately managed accounts. Yeah, I'm not, I don't know what
that is. I'm curious what Bitcoin plus
is. Is it Bitcoin plus ETH?
I think it's Biz Plus Plus Made in America and I don't know if.
Interesting. Isn't it Bitcoin Trump to
actually get into the ETF game? Yeah, bro, did you see here
Tyler summed it up this morning. Hold on, let me get it to you.
But it's it was an interesting announcement that came out this
morning again on the bullish headlines, right?
But it's basically this. The registered trademarks
compromised comprised with the following Truth .5 Made in
America ETF, Truth .5 Made in America SMA, Truth .5 US Energy
Independence ETF, Truth .5 US Energy Independence SMA, Truth
.5 Bitcoin Plus ETF, and Truth .5 Bitcoin plus SMA.
That was all breaking news this morning.
So looks like Donald Trump's launching meme coins.
I'm sorry ETF, I have meme coins in my head.
But he did that too, so. And he did that.
Sorry, he already did that. That part I.
Know it's the big one like if you look at coin market cap
they're made in USA sector as XRP Seoul USDC doge.
USD is going to $5. I think sweet Avax interesting
they don't have Trump on here. If Doge is on there, I think
Trump's going to be in. There, can we bring up cookie
dough fun? No.
Trump's here. Trump's here, Trump's here. 34
on Made in America. I don't want to bring up cookie
dot phone. Yes.
Like why do we have to do that? I want to have a look at like
what we actually think about this sector right now.
No, it's good. We were covering it a lot.
We should talk about it. I mean it all went.
I just want to put it, put it out there.
It all went downhill when mother fuckers started calling it D5.
Yeah. That was the absolute
generational top of AI coins when you all started using the
word default. Look at the seven day on some of
these man like these are you couldn't like you couldn't get
some of these coins fast enough about a month ago.
Wow. It's a lot like, I'll admit,
like I I called my thought was the the capitulation event on
Saturday. It looked, it looked like
capitulation. Saturday, Tyler.
Now they're all lower, yeah. Extended the The market will not
rebound until Bernie's back from Mr. Cruz.
I think there. Wasn't 60% in a week?
Pardon me having. Who It's like 50 to 60% in a
week on top of that kind of happening the week before.
I mean like the bully, the bully token peaked at 250 million or
something. It's at 8.
Like we're not talking about 80 or 90% like we're we're talking
about like. 90 it's at 6 now actually.
Wow. And they've got that's supposed
to roll out. I think they they missed their
deadline on it. Wow, I mean this is the saddest
chart looking indexer you've ever built.
Even the people who thought that there was a somewhat popular
take that people called a top and said all the vapor Ware
stuff is going to go down to 0 and then we're going to see the
true projects emerge. But even that's wrong because
like nothing is emerging. Like everything is just
decimated at this. Point How wild is it that Toshi
is now the third biggest AI coin?
Yeah. I mean, it's not an AI coin, I
know. But how wild is that?
Where's Toshi at? Toshi's at 342 million.
Wow. It's virtual.
This isn't current market cap, right?
So it's virtual FARC coin at 4:40, then Toshi, then Fraser,
which is that weird coin that like no one really knows.
No, no, not a single person owns that coin.
Wow. I'm not giving up it it feel,
but I will say like it's never felt more over than it is real.
Like it feels like this is like actually going to 0.
That's my feeling. Yeah.
It's like this sector is over if I'm being like objective like
that is what it feels like. I have not cut bait.
I still have MY16Z position, I have my arc position.
Both are down. Wow.
Parkour is separate. I don't really, although it's in
here. I I think it is its own thing.
Well. It's hard to see like what is
the next catalyst, but it's always hard to see that at the
bottom. You need proper capital
injection like this. Yeah, yeah.
All right. Well, just hang tight, you know?
Maybe Trump will. Maybe Trump will launch a Made
in America AI. We need it.
It's our whole way out. Donald Trump, if you listen to
this show, this just doesn't. This just doesn't.
Remind me of the last, even the top of the last cycle, right?
Like these things bleed out over a much longer time period than
than what they just did, right? Like that's a wild move.
That is a wild move. It again, I think just talk
speaks to Solana and the fact that most of these coins to 1%
liquidity pools aren't listed on exchanges.
So like when people want to exit and the one exit varies from
coins at the same it's. Tough.
It's just a. It's just a BLOB off I.
Mean. There's a reason why point like.
We spoke about AI16Z earlier this week.
It's like, oh, you know, strength to strength on the tech
side. I know obviously there's been
some flood around shore, but that's been fun for a while.
Like that's not new. Yeah.
And and then and and it's gone another 2030% lower than that.
Yeah, this is just all. Yeah.
I mean, the meme's gone, you know, nobody's hosting talk
about AI anymore. But but The thing is like AI is
not going away. AI is not going away.
But then if you're talking about utility, like none of these
things actually do anything. They do it's.
Like what? Like.
You guys still don't use Griffin or ARC protocols or products?
Because they're in the early stages.
As long as you 2 are not using these products, I'm going to
keep saying that the utility is nowhere.
That's fair. I think AI16Z and arc are
basically that they're they show that they were meant to be like
launch pads, which to be fair, like arc has has gone down the
route of and AI16Z is yeah, waiting to build this, this
Asian platform Griffane. I, I always felt like that with
the, with the copilot stuff in that it felt like that felt too
early for me. And I, I, I never really had a
big because like. Unless they're able to build
incredible brand strength, it does feel as though it's a
little bit early to have like the.
Same Co. Pilot on for crypto, but but
yeah, this stuff. It's actually nasty, dude.
There's no way that I'm trying to find a bowl case here, boys.
I'm I'm. I'm AIX PT.
Is it 250 now? That was still brilliant.
Yeah, I mean, we have beef with them now.
So I'll bite my tongue. I'll set this conversation up.
Virtuals. No What?
We got beef. Suddenly everyone cares about
the revenue of virtuals. We got beef with AIBT.
I'm just saying we got beef with them.
He's trying to fuck with Tyler and see what?
Happens. That's true recently.
Yeah, dude, he fucked with Tyler.
It's been down only since he fucked with Tyler.
You can bite your tongue. I don't have to bite mine.
I got you. Well, also we, I mean, I think I
said on the show at one point that or we did the AI XPT is
kind of like the mascot of the AI sector.
Yeah, it's true. It's fitting that it's down 70%
because the whole sector is down.
So no, this is true. This is a fair, this is a fair
take. You brought another one up,
Tyler Manager now before virtuals, Yeah, everyone's
looking fine at the that. The thing's making like $12.00 a
day bro. Waiting for that tweet.
Yeah, it's funny because again, like what I was saying is like
the meme grew faster than the tech, the utility.
So it was memetic values that we were assorting to those to those
tokens like zero bro at 700 mil. That was a memetic value of 0
bro, not the actual value of 0 bro.
And now it's funny on the way down Mendo, you think about, oh,
but the tech is not it's funny, right?
And that's a meme too, right? Like I'm here like, oh, you guys
not using it, but who gives a fuck?
Like I never used any of the coins I bought.
I'm in more of the Titus camp though, like the the Tam slash
the the ability for these coins to have real utility seems way
higher than than most of the old coins to me.
Yeah, genuinely most of the old. Coins Anon beta tomorrow Looks
like Anon like. 0 Pro is more of like, yeah, it's more of a meme
style coin, right? Like it's more of a culture,
let's say style coin. But I do think like AI16Z even
AISPT right? I know we have beef but like it
has options with this mind share arc as well.
Those ones have really surprised me about how weak they are.
Like AICCC is down the most out of all the and it's like it's
not like it's done. It's not like it's a shit like
complete shit coin in my opinion.
But I agree, I don't think it's a complete trick one either.
I like. I like we.
Said like it's two, it's 270,000,000 like.
You're trying to. Compare that events, other
altcoins and you're trying to, it has like the most shared open
source protocol in crypto, quite a few different avenues with it.
So basically try and monetize that and it's trading at 270.
You're talking about what AI 16 here?
Yeah. It's that 2 cent, Yeah, I mean,
that's one where at these prices even I'm like, wow, after you
what you guys said about the protocols and the GitHub and
everything like this is where like I can dunk on it 700 mil,
but 200 million I'm like wow, that's crazy. 1:50 I might have
to try to unload like. I I wouldn't blame you.
I just you know what like I even just saw I was just browsing
Twitter as he was talking like I just saw this tweet from Ponzi
trader. He's like the market has not
provided a reason to long any assets, specifically altcoins.
Don't try to knife catch LARP. Tech it's.
Fair. I I I are you guys trying on
knife catch? I don't think you are right.
Hey I. I did on Ark a handful of times.
And you were right until you were wrong.
But I don't know why you're wrong.
Like I actually agree with your knife catch on Ark and you know
what I mean? Like I don't even understand.
Like you and Ovi were like going at it right?
Like, but like bit for bit. It's interesting, man.
It's it's an interesting part of the market and it's fair to say
that almost everybody who's new to the space probably is down
now because a lot of people got into the AI trade and they're
probably down. It reminds me of what is it
Remind when did people come in new when newcomers came into to
to NFTS, at some point they were all down.
What was it? Q 421 or something?
Was it? There was a period, man that
remember like everybody who bought NFT was probably down.
So we've been comparing these meme coins in AI to NFT.
So therefore we have to compare them the way down to NFTS too.
So that was kind of there like this inflection point where if
you bought any of the top NFT collections.
But board apes stayed above 100K for a long long.
Time. Yeah, it lasts way longer.
But but. Even the collapse of it took
ages. But we knew this, right?
Like meme coins don't last. Like we knew meme coins are not
NFTS. Like you're talking about meme
coins on Solana blockchain where people get out in the second and
don't give a fuck about their back.
Like we we know this, right? Like this is the risk of meme
coins for seven FT communities, right?
Like at least NFT communities believed in something like that.
Murat thesis actually fits much better in NFTS than it does in
meme coins, right? Because you're attached to your
PFP or your identity, right? There is no identity behind meme
coins. Yeah, look, I'm not saying that.
I'm just, I'm shocked by this, that yeah.
It's shocking. 80 to 90% in in weeks.
Not in, not in, not in months. Yeah.
All coming I I'm not seeing anyone flashing their shorts
that they made. I don't think anyone's flat
shorted I I think everybody missed the short as well.
But I know we want to get to bread guy.
There's a couple of headlines. I know I don't need to go
through my full one if you don't want, I can just.
Let's go. Let's go through your headlines.
I'll bring bread guy up still regardless because he's in the
studio with us. So what up bread guy?
I'll bring you up. But let's, let's, let's, let's
do the let's, let's do the Tyler's topics.
At least go through them T and crypto analysis Tyler T on FOMO
our cause the kids. Can a lot of top stories.
Let's start with the FDIC planning to revise crypto
guidelines for banks, allowing them to conduct activities in
this sector without regulatory permission, while also revealing
documents showcasing and confirming that yes, Operation
Choke point 2.0 was a very real thing.
We saw Masari report that highlighted salons explosive Q4
and rapid growth. Call it the best.
Is it the best quarter of all time?
It looked. Very.
Paper though, will they be able to maintain that for Q1?
Still up for debate, Sailor MicroStrategy rebrands to just
strategy. They also launched that Stark
STRK convertible preferred stock on the New York Stock Exchange
here today. So couple big days for them.
The SC, the SEC reassigned their top crypto litigator to their IT
department. So that was a funny headline.
That's hilarious. Stripe acquired a stablecoin
platform Bridge Platform Bridge for $1.1 billion, its largest
crypto acquisition to date. We saw BlackRock announced the
launch of a Bitcoin ETP in Europe.
The CFTC is going to review their regulatory approach to
prediction markets in coming weeks.
Love to see that and the breaking news morning Trump
media filing trademarks for Made in America ETF, Bitcoin ETF and
more. It looks like those are indeed
coming, folks. Bear Chain is live.
They released their tokenomics and AirDrop checker yesterday.
Mainnet has launched, it's trading at $10 right now, which
is right around 5 billion, so pretty strong start.
We have Ondo Finance. They launched the Ondo Global
Markets, their new tokenization platform for U.S.
Securities. So this tokenization for U.S.
Securities like stocks and bonds is absolutely coming.
We'll talk about with bread here in a minute.
They announced a vote for their NFT distribution, either first
come, first serve or random RNG. So if you've got a horse in that
race, maybe go vote. Let's see AI, we already talked
about it. It's down, down only parallel
digit era major update. So if you're in the parallel
prime ecosystem, go check that out.
They talked about a mobile app, the colony game and wave Finder.
They teased Q3Q4 for new game releases.
Prompt still expected Q1, so hopefully later Q1, maybe once
the AI has rebounded. Please.
NFTS Let's see, Jupiter's X account was hacked briefly had a
meme ticker display. Dude, and it was the IT went for
a bit like they hosted a space as as well.
I thought that hack was, I hate to say that I thought that was a
funny one. I didn't just like, drop
something, but yeah. It was like smart enough.
Did you really think that that was?
No, not, not one bit of me. I I actually saw some smart
people fall for this and I was a little surprised, especially
given like where you are in the space.
So I think, I think, I think it was quite obvious, but I'm
mostly like kind of appalled by the lack of security on some of
these big protocols. I love Jupiter, I'm a fan.
But you know what, if you have a certain audience and you're like
also one of the largest protocols or decks or
aggregators or products in all of crypto, Like, you know,
unless this was inside job, which I don't think it was, but
yeah, yeah, it's pretty bad. It's pretty bad dude.
Not great. But.
That that was the round up. Natural selection, Natural
selection, Tyler just more natural selection.
Indeed. Yeah, hate to see it.
I love the FDIC news. We've been talking about this.
It's just reinforces that the banks are absolutely coming into
crypto and it seems like it's going to happen soon, sooner
than later. It's happening at the speed of
light right now. What was you want to double down
the headline? Let's go through that.
Maybe the the Perisher Market 1 was pretty good and let's get
right into the mega use stuff. Yeah, so the FDIC, they plan to
revise bank guidelines for crypto, even to allow banks to
embark on some crypto activities without getting regulatory
permission first. It looks like some banks have
already been in conversation with government officials.
They are pushing to offer custody of, of crypto assets
along with tokenized deposits that could put some checking
accounts on blockchains. So that that is an incredibly,
the custody piece is still like the one I've been focused on
just because of the massive capital unlock That would be, I
actually hadn't even started wrapping my head around
tokenized checking accounts on blockchains.
So there's even more to unpack there, but tremendous progress.
And it really feels like the progress is accelerating.
Like maybe like, are we going to see this in H1?
Like would you bet on H1 before the end of June?
I don't know how fast this stuff moves.
What do you think? Wendo?
I I really don't know. It's not my.
Organization it, it feels like weirdly Defy has become one of
the stronger sectors during this sell off.
Like people are looking at it through it and being like, well,
that's where we'll might see more headlines over the next few
months. It's like where you're going to
get all the real adoption right in Defy like and stuff like
that. So it's it's becoming very real
again, it seems on that front, right, Because you have Larry
Fink talking about tokenizing bonds and stocks.
I just, I continue to think that these trap by companies will do
it themselves like we don't, they don't need us to be able to
do this so. Meaning they won't use our
Korean block chains. Is that what you're saying?
No, I just don't think they'll that they need us for to
actually do the tokenization. So there's some like RWA coins
like Hondo and a few others. I don't know.
My my general sense is is deltas do it themselves.
OK. That's the RWA piece.
I think the I was more just referring to the, the custom
crypto within banks. Yeah, which I think I, I feel
like that. I don't know if it's H1, I think
it'll be 2025. Yeah, it's, it's definitely I, I
think, yeah, I Yeah. So I'm just looking at the state
of the market. I think that I just can't, I,
there's no Peace of Mind. But things that were nearly
close to the top anyways. I see, I see people in the
common sense. Everybody's got, everybody's got
to, got to, got to, got to freshen up here.
All right, Reboot, you know, it's a bull market.
It's normal bull market shit. Vaporware is getting erased off
the market. It's probably a good thing.
We absolutely love to see that. And we got bread guy on the
show. Come on.
And we got bread guy on the show.
Let's get this energy going. I mean, bread guy.
What's up, dude? I think it's your first time
coming on here. How you doing?
What's up, buddies? Yeah, you actually guys, you
inspired me to go back and check some some message timing.
So I see obese had a really big Aix BT trade, right?
He crushed it, right? Ran it up.
I didn't realize how far down it was.
I and I remember him bull posting it a little bit about a
month ago and I went back and after he did that, I sent him a
message like, bro, sell some coins.
You got to trim coins right now. You have too much money on
chain. And I'd literally I top ticked
the thing that message to him on Telegram was 4:00 AM the like
pico pico pico high. And he like you know, he used to
respond. He said he trimmed it a little
bit. But yeah, man, like been there.
Round tripping is part of the game for everyone.
Where? Did I get tripping?
Well we round tripped friends together as well as puffs.
It's trauma bonding that's that's the PMF of this entire
space is trauma. Bonding.
With friends, yeah. Yeah, it's about the friends you
made along the way, right? We had.
Quite a pups bag. We had quite the pups roller
coaster. I mean, I'm, I'm part of that.
One the hold now. What's that hold now?
Should we check what's pups? Bag 35.
Million mil. And 34 mil at least.
That fucking dog token is 300 million.
You know like at least docked the moon's 300 million.
Like pops holders couldn't RSI see $17 million I think Ruins
the $2000 in volume yesterday total.
That's what I was about to say. It's like, oh, like whatever the
market cap is doesn't matter because it takes like an hour to
move at all because like the volume is so low.
It's just like it's down. The men pool's empty.
Like no one's using this shit. Bro, this is so wild, but this
is this is all really good. Listen, Breg guy, you've been,
you've been busy, it seems you've been busy with Mega ETH.
You guys made a kind of a monster announcement the other
day, which was really good. I personally like really like, I
really like the way you guys are approaching things.
She sent it to logs internally and I saw Kobe was supporting.
Of course, Mega ETH was like, what?
Like a record-breaking like raise on Echo or something like
this? Like what, $10 million in what,
3 minutes? Yeah, something like that.
It was in two tranches. So it like that kind of skews
thing. It's like we opened it up at I
think we did 6 mill that immediately went away and like,
all right, Jack it out. Like if people want it, we'll
we're willing to go higher. And then we we went for record
numbers and it's smart. I love that.
So why don't you just maybe like give the people a little intro
like like what Mega Ether is and then Tyler let you like lead
this? I'm like, I know we want to wear
the whitelist stuff, but like what?
What Mega ether is just for the people who don't know?
It's it's Ethereum's answer to Solana.
It's probably the best way to do it right without getting too
nerdy, right? Like.
Yeah. Yeah, I mean, honestly, so like
there we like we've made some very opinionated design
decision, our design choices so that our specific L2, we are an
L2 on top of Ethereum, but it's a different flavor of L2 is able
to unlock a higher level of performance than all the other L
twos, namely like base arbitrage, whatever by orders of
magnitude, right. Just to give figures people are
familiar with, right, you have 200 TPS total across all of the
roll ups, across every one of them.
So if you combine arbitrum, bass, optimism, world change,
all these things are about 200 TPS.
We're shooting for 100,000, right?
Because of some of the design decisions we made.
At least we see the market, right?
You see what's what Solana's doing, you see what hyper
Liquid's doing, right? Maybe people over indexed a
little bit on like maximally super ultra slow, secure,
decentralized, whatever. And there's a clear demand for
on chain good UX that is on par with web two.
We're pushing for that. So what like so what'll be on
mega ETH? Like will it be the same things
that we're doing on ETH but it'll just be easier and faster?
Like what is the vision? Yeah.
All right. There's two things to SO no,
first of all, like we're not pushing for the 55th fork of
whatever. That's just faster.
We have it one unique unlock that is like the responsiveness.
The tagline is real time, real time chain, blockchain, whatever
that is because of the design decision we lead into to say
like, hey, we're going to like really lean into this.
And you basically have that sequencer that everyone fuds,
right? They're like, oh, we needed to
centralized this thing. It's big, it's scary, it's
whatever. It's not really that much
different than Hyper Liquid having 4 validators, which
everyone fucking loves. We just said, OK, well, if we're
going to do this, this sequencer like own it, let's just make it
the biggest, baddest MFR you've ever seen in your life, right?
So now we got some chads from from Web 2 fuck up data centers.
They're here to say, all right, we're going to make this thing
awesome. And the thing that it unlocks is
the real time element of blockchain or real time element
of what blockchains could be, right?
So what that means is the responsiveness and how fast your
shit lands on chain, right? So even with Solano, you have
about a four like half a second delay to where it like it
actually ends up on chain. We can get that down to to 100
milliseconds, right? Like down to like real time
instant web 2 interactions, right?
Discord Discord messages are about 200 milliseconds, right?
Telegrams in that same range. All payments are like 300
seconds. That's like when it's
instantaneous to you as a human. So that's that's the threshold
that we can do because we're not an L1 right?
Because we're not decentralized. Solana can only get down to like
200 and 5300 milliseconds. Ethereum's never going to get
below 12 seconds, right? Monad's aiming for one second.
We're aiming for like making blocks under 10 milliseconds.
It's just super fucking fast, frankly.
So that unlocks the maps right? So like that means you can have
applications that are really responsive.
We're not, we're not trying to just again have a, the 55th fork
of uni swap that's just a little faster.
So we've incubated, we have it's an accelerator of like 15 teams
that we've been living with our Co living with like 30 days at a
time. Did it in Berlin, did it in
Chiang Mai and they, they understood the tech and they're
building applications that is uniquely enabled by the tech.
Like euphoria is a good example. Euphoria is an application
that's, that's like perpetrating, but it's they're,
they're calling it tap trading. So it's like a Robin Hood style
spin on perp trading where literally as you tap, like you
get the whole confetti, it's immediately on chain.
Like it's a, it's a trade in real time instead of like having
to wait a little bit for the thing to land.
And you have games like AW, he's actually the founder of of on
cyber. He's, he's building on our chain
with a bunch of again, these other 15 people teams and he's
making a real time, like an engine that you can actually do
on time on chain assets are real time generated inside of his,
his world, right? So like you can be in an
environment walking around chilling, doing shit and like
pump fun coins are coming in from the ceiling with a size
based on your market cap. And if you bump into them, you
buy $10 worth of that coin, right?
And you can play, play games around that shit, right, because
it's responsive enough that you can actually have that
interactive stuff with real time shit.
And then because we're, we're growing them all together,
there's like again, 1517 teams, they're all Co building, right?
And they got some camaraderie among each other.
So like our perps decks plugs into our, our gaming engine,
plugs into our lending protocol, plugs into our, you know,
whatever. So they're all native.
Our applications building together kind of want to make
each other better and then uplift each other through like
integration with each other. So it's like a interwoven
ecosystem. It's a cool vision for sure.
And I think like I, I will use Solana these days because of the
speed and use experience, but I'm also not like I'm not
married to Solana. So like if I can find that
training experience elsewhere and there's enough to do, like
I'm happy to go there as well. And I feel like most people are
generally in that camp. Yeah.
Why do you think? That Evan Solana, that's
something that's that's a good question because I think.
That's $100 billion question. Yeah, so that's, so that was
what I was just talking about, the real time responsiveness
again, if I could think about the constructions of L ones
versus L twos, right. And L1 has to come to consensus,
right? It has to have a bunch of notes,
Solana even, right? It's very, very fast, It's very
performant, still has to come to consensus, right.
You put your transaction on chain, there's a little bit of
lag time between all the nodes agreeing on that thing being
true, that being able to be ingested into an application
like things have to agree on stuff.
And that takes time at least as fast, as slow as the speed of
light to travel amongst random nodes to agree on ship.
Like for Solana, that's 300 milliseconds, right?
400 milliseconds, right round trip around the world for these
for these boxes to agree on ship, we don't have to do that
because we don't have to do that.
It's just the distance from you to the box and then it's on
chain. So again, Solana hyper liquid,
hyper liquid is going to be an L1, any L1, because they have
consensus can only shrink this window down to that 400
millisecond ish window, right? And that that is above the
perception of instantaneous real time.
Real time is that like 100 millisecond window?
Because we're in L2 and we're saying we'll fuck that, right?
Like Etherium does. The consensus.
Etherium is decentralized. Etherium has all this shit.
We're a big box on top of it. We'll create this experience.
We can shrink that window from that threshold that they're at
down to, again, we're making blocks.
In 10 milliseconds, we'll have 100 blocks produced per second.
That's faster than some chains will have transactions per
second. So like the the rate at which we
can produce this on chain stuff is not replicable as an L1.
It's just not so like that's the difference.
And if you can create a an application that exists in that
vertical and it's different, that is the only possible on or
on an L2, but specifically for us because we're also in
performing on top of that. So what would be the high
performance apps that you would want to to would really thrive,
let's say in that sort of environment?
Combination of like wacky shit and then like the typical stuff
again, like there's there's the stuff that's like I just talked
about the tap trading right, like you literally you literally
cannot replicate it. Well, you can't it's just not a
good experience, right. You tap a screen and you have to
wait half a second or a second or two seconds for that thing to
be real. You cannot produce the like
confetti blowing experience right.
You literally can't do it. The guy who's creating this app
is he's an X like MEP searcher, right?
Like he's he's this guy gig of brain back and stuff.
He's like, I just want to create a weird, wacky fun trading
experience. So he's just like, now you have
like a Robin Hood style app, you tap your screen, it's gamified.
So it's confetti, but it's instantaneous because we can do
that, right? Because you can tap and it's
instantaneously on, on, on Jane. Like that cannot be replicated
elsewhere. Not in the same way.
Now without like it not being final, we can say it's final.
So like there's that element of it, but then there's also the
weird wacky shit that's like deep in style stuff.
Like we have some, some teams that are literally like you
walking around and you, you take pictures of like monuments and
shit. They have the ability to like go
and like they're making people do this and saying, if you can
trick these people into taking pictures a certain way, we can
turn that thing into a 3D object and then make that 3D object
that's usable inside of our, our world engine that's being spun
up by beyond cyber guys. So like, it's really just like
finding people that can create things on chain that are like
unbounded because of some of the trade-offs that we make and then
letting those flourish. So combination of stuff that the
typical stuff that can just be a little more weird and then just
weird things that just weren't possible on chain before.
I think you did a nice job buying out the vision.
Yeah. And everyone's, you know, our
audience definitely wants to know, right?
All right, so how can I make money off of this?
Right you. Guys are the biggest.
Of course. NFT I've been screaming, I've
been screaming the tech for for months and everyone's like OK,
whatever. And no one cares.
No one. Blast, we blast on through the
the mindshare chart now where everyone's talking about us, I
guess. Absolutely nobody gives a shit
on unless they can make it to your whitelist.
Not just you, It's for anyone, even what we're doing.
Yeah, yeah. The second you talk about, hey,
we've been building this British market for eight months, hey,
guess what, we're adopting Myriad's token from the
foundation. You know, it's just name of the
game. So tell us more about this.
This thing I saw, I was, I think I'm in, think the boys were in.
I think 80 other thousand people are in.
So this is not an insider cabal thing.
Don't worry, there's 80,000 people on this fucking list.
Or addresses that is. That's a little.
Yeah, yeah. So that's a little that's a
little intimidating. I've like, we fucked up the
messaging. There's just a lot of words
there instead of like clear, concise.
Learn that, learn that. This.
Is a really big positive. I think the messaging was just
long for the average decent doesn't read, but if you dig
into it, it's very interesting concept.
Yeah. So like it all, it all stems
from the ethos of like trying to return to the days of old,
right? Like making sure people who want
to be able to get invested in these ecosystems and own a part
of the network are able to do it early and on the same terms as
people that traditionally would be private market, right.
So, right, the team has deliberately since day one off
shot or like or put off raising, right.
They there is 20 million total to get off the ground.
The project's been going for three years, but they raised 20
million from Italic Lubin, like Dragonfly, whatever that got
them going. The next thing we raised was 10
million from the Echo round. That was 3400 people from on
chain. When we did that, we said like
guys, this isn't we're not done. We're looking for other
mechanisms to allow for people to be able to get exposure to us
if they want it. And we're going to look for on
chain native ways to do it, right.
So we did echo, knowing echo is not perfect, right?
I'm AUS citizen, I couldn't even participate in that right?
If you don't meet the right criteria, if you're not signed
up like it's just not awesome. So we know we have to deploy
this in a couple of different ways.
Again, we could have raised $100 million from a bunch of VCs, but
we think the, the, the love of the game has been lost a little
bit. And the way to build a true
community. If you're trying to like spawn
an ecosystem, you have to align incentives through straight up
wealth generation, right? That, that is something that's
very, very sticky, right? If we can, if we can give people
good exposure to the stuff, not let it be captured in the
private market, then we can do that.
So this was the second installment of like a tactic for
doing that. We're, we did whatever we could.
I, I couldn't even participate because I'm AUS citizen, but
like, the team did whatever they could to make this explicit,
right? Like it could have been a bear
chain thing, right? Oh, we're doing some NFTS.
Three years later, you still don't know what the fuck you're
getting and you're still gambling on it.
We in here said straight up these at a minimum are going to
represent 5% of the network. Right.
Wow. So it's 5% at minimum, right, At
minimum, at minimum. So it's it's yeah.
So the that's the thing, right. So it's five, it's 10,000 a PS
for 5% at minimum of the network with the ability to dynamically
increase, right. So again, we haven't released
the details on that, but you can do it And then they come.
It's it's similar to our echo terms, right?
That comes with vesting whatever, but we include in here
KPI vesting, right. So if you do certain things over
the next X amount of months then the IT accelerates the unlock.
So it's 50% at TGE, but it can be potentially more based on
like your contributions this. Is great.
I love this. TBD on it, right, like where we
can't release everything, but we will have stuff and then we're
doing it in two tranches, right? So 10,000 total, right?
It's so it's like that's like $30 million at current ETH price
because it's one ETH per, but we're doing it in two tranches.
We don't have the fucking chain yet.
We have a test Nets coming at the end of the month.
Are, you know, 30 days ish, like, you know, whatever.
So we can't do anything to say like, oh, you've been a big
user, You've been like, we don't have that right.
So this 1st 5000 is, is retroactive.
We looked for people throughout the ecosystem that did things,
displayed stuff that we thought were valuable to the ecosystem,
whether it was a you, you're a big Pendle fly user, you're an
owner of a couple NFTS, you attended some of our events.
You like our spaces host, like I reached out to like the team
reached out to a bunch of people to make sure that like you guys
have been contributing, people have been contributing, right?
We want to make sure those people and artists like
whatever. So those people are involved,
right? They have the ability and
that's, that was the original 80K list, right?
So that is not the fact that who is going to be minting.
That's just who's eligible to register to do whatever, right?
So the actual number who can actually mint are the ones who
then like take their emails or like like, I think they did like
all the Ogs from like Solana, right?
So like there's a lot of people that just straight up aren't
going to check. They'll come in, they can
register their address, that will put them on the list, and
then that will will. We're then working on it like
we're afraid of a gas war. We don't.
We don't want that. That's a bad experience.
Yeah, that was going to ask like yo, OK.
Yeah, like to be honest, like we thought this would be well
received. We didn't think it would be as
well received as it was, especially around the Baromet
and stuff. Like we kind of acknowledged
that and it turned out it was really well as chiefs, like, OK,
now we got to make sure we don't.
We don't, Yeah, there you go. We have to make sure we don't,
don't we do a gas war right 'cause that like effectively
raises the valuation of what you're actually getting.
So what all this just say is like we're iterating right now
on the back end to see what we can do to mitigate that.
We're going to try to, we have two waves, right?
The first day is like guaranteed and free mints for people who've
been like strong supporters, all that shit.
And then the second one is just a first come, first serve.
You know, again, we're playing with it.
We have a vote open right now to make sure.
Yeah, I voted RNG. Yeah, like and it's a
combination of stuff. So like one like people are
going to register. So I encourage everyone if you
are check your wallets like we put out a post yesterday on the
main account if you go. To the so you do this like you
just and you make sure you're in or something.
Yeah, like choose your wallet. Like I just go register one for
fantasy, one for friend tech. Yeah, that makes you quick.
So like, I'm in, log in and delegate.
Yeah, the verbiage is sucks. It sucks, dude, I had to work
that shit so much. But yeah, do that all the time.
So people know like see my wallet was eligible.
So you probably like there's 80,000 people eligible like
this. Yes, make sure you do the rest
like what I just I'm about to do now to delegate and everything.
OK, Yeah. And we're seeing that stuff on
the back end that like, yeah, some people are coming to the
screen and seeing that, like not realizing they have to do that.
So we're going to update verbiage, put out copy, make
sure people do that so that we can do that.
But yeah, so we're going to try to get a subset of of wallets
that actually register, get an RNG from that subset, let them
mint, try to do it as in as least a rush as possible.
If we can just like push people into the guarantee day, you
know, up up that a little bit so they can still pay, but it's not
a rush. And then do like a smaller first
come, first serve. We're, we're iterating, but
we'll have news coming out on that.
But that's the goal, right? So that's this whole thing is
just to allow people to participate.
First 5K is based on retroactive stuff.
We have another 5K coming in a couple of months.
The second-half of the collection that will be purely
proactive activity, right? So like we'll have a chain live,
we'll have socials up. We'll like we'll be able to do
things to identify people that are contributing proactively.
And that's what that'll be for to widen that.
And then not, not, not done. We're trying to find ways to do
this stuff of. Course no, it's awesome.
So I just did the thing. It says congratulations
Megamind. So just for the people like make
sure you go through the process and then once you get the
congratulations Megamind message, I'm assuming this is
when you're done and you're good.
So OK, this is great, This is exciting, but I guess like when
the shit launches, I mean you're welcome to come back on and do
all this stuff. So that was exciting.
Unless Tyler reminded you have any other questions but.
See what love have you guys been doing?
You know, appreciate you kind of I didn't.
I didn't know exactly what mega youth was.
I'll be honest so I have a much better understanding.
Yeah, this is great. Like short suite, we kind of got
the gist of it, you know, from the more DJ and like we don't
have to get too techy, nerdy and stuff.
Like people can go read the dogs for that.
Like I think this was great. We'll clip it, post it across
and and and make sure we get that on the timeline.
Brad Guy, thank you for coming. Sit tight because you might be
our lucky charm today.