Latest / The Paul Barron Crypto Show / CLARITY Igniting TRILLION$ into Solana!🚀Tokenized xStocks🔥INTERVIEW

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CLARITY Igniting TRILLION$ into Solana!🚀Tokenized xStocks🔥INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Could trillions be coming in to Solana all because of
• 0:03
  Speaker 1: Clarity Today we're going to be breaking that down. Token
• 0:05
  Speaker 1: is stocks are coming, guys, is going to get very interesting.
• 0:08
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  Speaker 1: are going to love it. Let's go over to a
• 0:48
  Speaker 1: couple of points I want to hit on Clarity. Right now,
• 0:51
  Speaker 1: as we speak, we are hovering at around sixty percent
• 0:54
  Speaker 1: over on polymarket. I think this is underserve guys. I
• 0:58
  Speaker 1: think this is underserved where the thing that's been happening
• 1:01
  Speaker 1: here recently, I'm feeling a little bit better that this
• 1:04
  Speaker 1: might get done. Now. The key there again is that
• 1:08
  Speaker 1: you know, there's always the rub of the bank stable
• 1:11
  Speaker 1: coin yield issue, there's always the rub of privacy, what
• 1:14
  Speaker 1: we're going to deal with self costoy, All those things
• 1:16
  Speaker 1: I think are going to get worked out. One of
• 1:18
  Speaker 1: the things that could move us forward is what happened yesterday,
• 1:21
  Speaker 1: and that is that the Senate passed a major housing
• 1:24
  Speaker 1: affordability bill. Elizabeth Warren and Tim Scott were on the
• 1:27
  Speaker 1: front of this. Okay, now, remember Tim Scott part of
• 1:30
  Speaker 1: the leadership behind what's happening over on Clarity. Maybe this
• 1:34
  Speaker 1: was a little bit of quid pro quo to Senator
• 1:38
  Speaker 1: Warren to get this housing bill passed. The CBDC insert
• 1:43
  Speaker 1: is in there, so it's not a poison pill over
• 1:46
  Speaker 1: in the Clarity Act, and maybe, just maybe that is
• 1:49
  Speaker 1: the quid pro quo to get them to come in
• 1:52
  Speaker 1: on this, because if you look at John Thune, I
• 1:55
  Speaker 1: know a lot of people said, hey, this is bad
• 1:57
  Speaker 1: for crypto based on what he said, but I don't
• 2:00
  Speaker 1: think so. I think his statement here is this, I'm
• 2:04
  Speaker 1: hoping it's going to come out of the Banking Committee soon.
• 2:08
  Speaker 1: If it comes out of the Senate Banking Committee soon
• 2:11
  Speaker 1: for a vote, that usually means that we've had a
• 2:14
  Speaker 1: lot of these concessions there out of the way, and
• 2:16
  Speaker 1: that means it's on its way to at least get
• 2:18
  Speaker 1: a vote. Now does it get through, that's the other question.
• 2:21
  Speaker 1: But the point that I'm getting at is this actually
• 2:23
  Speaker 1: could be coming out in time. And this is really
• 2:26
  Speaker 1: where it gets into x stocks because when you look
• 2:28
  Speaker 1: at token is stocks in general, we have already seen
• 2:32
  Speaker 1: massive growth and I think if Clarity goes through, well,
• 2:36
  Speaker 1: I think you guys know that we are going to
• 2:38
  Speaker 1: see an absolute explosion on this. So we wanted to
• 2:41
  Speaker 1: bring the xdox team on today to kind of break
• 2:44
  Speaker 1: down all of this. Joining me, of course, is Mark Greenberg,
• 2:47
  Speaker 1: who is the head of xdox Global Head of xdox,
• 2:50
  Speaker 1: Thanks for coming in.
• 2:51
  Speaker 2: Mark, Thanks so much for having me.
• 2:52
  Speaker 1: You guys put out a post that when we saw it,
• 2:56
  Speaker 1: we thought, all right, okay, game on, here we go.
• 2:59
  Speaker 1: We've got xdox framework now is going to power the
• 3:02
  Speaker 1: gateway over in Nasdaq, explain to me a little bit
• 3:04
  Speaker 1: about what this means.
• 3:05
  Speaker 3: Yeah, so when you think about tokenized equities, I like
• 3:08
  Speaker 3: to think about them in two parts. On one hand,
• 3:11
  Speaker 3: you've got the permissionless SPLs and ERC twenty style tokens
• 3:17
  Speaker 3: that xdocs are. They work on chain, they work in
• 3:20
  Speaker 3: every wallet, they work twenty four to seven, and they
• 3:23
  Speaker 3: operate outside of the US regulatory.
• 3:27
  Speaker 2: Regime for broker dealers and pieces of that.
• 3:30
  Speaker 3: But recognizing that's not the entirety of the puzzle here. Also,
• 3:34
  Speaker 3: we need to make sure that the underlying equities themselves
• 3:38
  Speaker 3: are twenty four to seven, that that infrastructure works really well.
• 3:42
  Speaker 3: And that's what we're doing with Nasdaq is helping them
• 3:44
  Speaker 3: build the layer of permissioned that's going to work in
• 3:49
  Speaker 3: the United States, it's going to work with their existing issuers,
• 3:52
  Speaker 3: it's going to work in the way that makes sense
• 3:55
  Speaker 3: for broker dealers across the ecosystem, and then make it
• 3:59
  Speaker 3: super easy for when you're ready to take those things
• 4:02
  Speaker 3: out of the walled garden and into the on chain
• 4:05
  Speaker 3: ecosystem that you can do that through the bridge with xdocs.
• 4:09
  Speaker 1: So what would this mean for a US user? How
• 4:12
  Speaker 1: does this kind of change things up.
• 4:14
  Speaker 3: That just means you can bring more of those same
• 4:16
  Speaker 3: kind of components into the broker dealers that folks use
• 4:19
  Speaker 3: every day. So if you think about how hard it
• 4:22
  Speaker 3: is to trends to transfer between say Fidelity or Robinhood,
• 4:27
  Speaker 3: or between Kragen and Robinhood, extremely complex, those kinds of
• 4:32
  Speaker 3: infrastructure layers go away with this kind of a change,
• 4:35
  Speaker 3: and then that just builds an easier on ramp into
• 4:39
  Speaker 3: the on chain ecosystem.
• 4:40
  Speaker 1: What do you feel is going to happen in terms
• 4:42
  Speaker 1: of and we'll get into more of this and further
• 4:45
  Speaker 1: into the conversation, but I'm just kind of curious in
• 4:47
  Speaker 1: the sense of investors, you know, because traditional investors, they've
• 4:51
  Speaker 1: been out there investing in securities in a normal way.
• 4:53
  Speaker 1: Do you think we're going to see a migration coming,
• 4:55
  Speaker 1: especially with this partnership with Nasdaq.
• 4:58
  Speaker 3: Start from the very simple thing that a lot of
• 5:00
  Speaker 3: people are hunting equities and they'd like to not have
• 5:02
  Speaker 3: to sell those equities and be able to borrow against them.
• 5:05
  Speaker 3: That's still pretty hard to do today, and so I
• 5:08
  Speaker 3: think bringing collateral on chain and bringing equities on chain
• 5:11
  Speaker 3: to allow you to to either spend against dollars or
• 5:17
  Speaker 3: buy on a leverage basis.
• 5:18
  Speaker 2: That's absolutely going to be I think a big part
• 5:21
  Speaker 2: of the migration.
• 5:22
  Speaker 3: Another comes out of the fact that you can earn
• 5:26
  Speaker 3: yield twice on your equities. You can join defin markets
• 5:31
  Speaker 3: like ave and Morpho and put your tokenized equities into
• 5:37
  Speaker 3: those markets while simultaneously still earning the dividends and all
• 5:41
  Speaker 3: the things you'd expect from your traditional And then on
• 5:45
  Speaker 3: top of all of that, if you hear some news
• 5:49
  Speaker 3: on the weekend, or you want to or you want
• 5:52
  Speaker 3: to make a trade at two o'clock in the morning,
• 5:54
  Speaker 3: because that's when you have a little bit of time,
• 5:56
  Speaker 3: you can do that very easily with the tokenized equity product,
• 5:59
  Speaker 3: which is I think will bring.
• 6:00
  Speaker 2: More people on chain versus today.
• 6:03
  Speaker 3: If you're in a place like Hong Kong or in
• 6:07
  Speaker 3: Southeast Asia and you want to trade one of these equities,
• 6:10
  Speaker 3: you're waiting for the overnight time to do that.
• 6:13
  Speaker 1: So yeah, and that I think is one of the
• 6:16
  Speaker 1: bigger scenarios. And just in terms of access to what
• 6:20
  Speaker 1: we're going to see in this market going forward, you
• 6:23
  Speaker 1: guys put out a tweet here launching something called exchange
• 6:28
  Speaker 1: stock market Liquidity on chain atomically explain this what is this?
• 6:33
  Speaker 3: Yeah, So one of the biggest challenges about using the
• 6:36
  Speaker 3: traditional des infrastructure on chain that works really well for
• 6:40
  Speaker 3: tokens is it doesn't work as well for tokenized equities.
• 6:45
  Speaker 2: So when you have big liquidity.
• 6:46
  Speaker 3: Pools, you have to see those pools with sufficient assets,
• 6:50
  Speaker 3: and the price changes a little bit differently than it
• 6:53
  Speaker 3: would in the traditional markets. But that's meant historically is
• 6:56
  Speaker 3: that when you make a big purchase of a tokenized equity,
• 6:59
  Speaker 3: it's had a decent amount of slippage, which means the
• 7:02
  Speaker 3: price dislocates from the price you could buy it in
• 7:04
  Speaker 3: the traditional markets. What we've done is build into a
• 7:08
  Speaker 3: number of dex is a automatic mint and burn, and
• 7:12
  Speaker 3: so you can always get the price that you could
• 7:16
  Speaker 3: get in the stock market, because we make sure if
• 7:18
  Speaker 3: that doesn't exist in a liquidity pool today, that we
• 7:21
  Speaker 3: will mint or burn more so that there's always the
• 7:24
  Speaker 3: sufficient number of X stocks islable to purchase at any Yeah,
• 7:28
  Speaker 3: so if you want to do ten million or fifty
• 7:30
  Speaker 3: million or items like that, you can do that under
• 7:32
  Speaker 3: the a belief that that will be the exact same
• 7:36
  Speaker 3: price you could have gotten if you had gone to
• 7:38
  Speaker 3: cracking securities of one of our traditional products.
• 7:40
  Speaker 1: I see, I'm looking at liquidity here. If you look
• 7:43
  Speaker 1: at Jupiter right there, you've got Netflix X right there
• 7:48
  Speaker 1: versus Netflix on in comparison. And you'll notice here as
• 7:52
  Speaker 1: I toggle back and forth, liquidity is one of the
• 7:55
  Speaker 1: factors that I think plays into this right at least
• 7:58
  Speaker 1: right now. When do you think liquidity would be improved
• 8:01
  Speaker 1: versus what we've seen with something like Onto? And I
• 8:04
  Speaker 1: think I showed the RBA data on that earlier right there.
• 8:07
  Speaker 1: In terms of xtox Onto, you guys are continuing to
• 8:10
  Speaker 1: climb right here, But when do you think we're going
• 8:12
  Speaker 1: to see improvement on liquidity?
• 8:15
  Speaker 3: So today, if you use an RFQ based decks, so
• 8:20
  Speaker 3: not Jupiter, but you BEX or CALSWAP or one of
• 8:23
  Speaker 3: those items, you'll see the same.
• 8:26
  Speaker 2: Price that you can get underlying. That's what we've been
• 8:28
  Speaker 2: working towards.
• 8:29
  Speaker 3: I think if you use a des like Jupiter, more
• 8:33
  Speaker 3: traditional liquidity pool decks, we're working really hard to get
• 8:36
  Speaker 3: them as close as possible, But just the way those
• 8:39
  Speaker 3: things are set out, I'll always feel a little bit
• 8:41
  Speaker 3: of spread between those prices and what you can get underlying.
• 8:44
  Speaker 3: So better I think for tokenzed equities products more moved
• 8:48
  Speaker 3: to Q style of decks versus a liquidity pool style
• 8:51
  Speaker 3: of decks.
• 8:52
  Speaker 1: Do you think that has caused active addresses to move,
• 8:55
  Speaker 1: because again, if you look at token is stocks right now,
• 8:58
  Speaker 1: this is just showing ONTO and X stocks kind of
• 9:01
  Speaker 1: comparison here, but we're not seeing massive growth here. So
• 9:05
  Speaker 1: my question is, is this one of the reasons why liquidity.
• 9:09
  Speaker 2: Xdox has about ninety thousand wallets. Yeah, I don't know
• 9:12
  Speaker 2: where those data comes from.
• 9:13
  Speaker 3: So ninety thousand wallets have X stocks in them at
• 9:17
  Speaker 3: this exact moment. And by the way, those ninety thousand
• 9:19
  Speaker 3: on chain wallets are matched by another one hundred thousand
• 9:23
  Speaker 3: or so on the Kraken platform, as well as on
• 9:25
  Speaker 3: by bit, on telegram, and all sorts of other places
• 9:28
  Speaker 3: where you don't necessarily see the on chain data. So
• 9:31
  Speaker 3: we're actually seeing tremendous growth. We're really happy with where
• 9:34
  Speaker 3: we are at the moment. Obviously, we look forward to
• 9:36
  Speaker 3: a day where you don't need traditional equities anymore and
• 9:39
  Speaker 3: everything is an X.
• 9:40
  Speaker 2: Stock for sure.
• 9:41
  Speaker 3: Though historically bigger volumes have been hardest, and that's what
• 9:46
  Speaker 3: we've been changing over the last of a while with
• 9:48
  Speaker 3: some of the architecture changes we've made recently.
• 9:50
  Speaker 1: Well, I think the difference there is the active addresses
• 9:53
  Speaker 1: versus total addresses. I think what your reference is total
• 9:56
  Speaker 1: addresses it, yeah, because that's an active addres data a point.
• 10:01
  Speaker 1: Let's talk about the ability to earn yield right now,
• 10:04
  Speaker 1: I'm looking at a few sites out there that do
• 10:07
  Speaker 1: a pretty good job on the Here's Piggybank, So here's
• 10:09
  Speaker 1: one that does a decent job. Then of course you
• 10:12
  Speaker 1: go over here to Falcon even though I don't know
• 10:14
  Speaker 1: their website's not quite as as sexy, but they've got it.
• 10:18
  Speaker 1: Then you could look at something like this right here
• 10:20
  Speaker 1: as APEX five. So what are you guys seeing out
• 10:23
  Speaker 1: there in terms of opportunity around yields, anything else we
• 10:27
  Speaker 1: should be looking forward. Then you got Camino obviously.
• 10:29
  Speaker 2: Yep, Camino ix FI. We're really excited about this.
• 10:33
  Speaker 3: You're going to be able to earn directly on Kraken
• 10:36
  Speaker 3: over the coming weeks. We're just finalizing that she'llter and
• 10:38
  Speaker 3: yield directly on kracking. We're working on a so on
• 10:42
  Speaker 3: the kracking side, we've been building D five vaults. They've
• 10:46
  Speaker 3: been on US dollar USDC. At the moment, they'll be
• 10:49
  Speaker 3: on x stocks over the coming weeks as well. We're
• 10:52
  Speaker 3: just finalizing that, so more yield opportunities coming. We're just working,
• 10:56
  Speaker 3: you know, tidro will the ink chain now supports x stocks,
• 11:00
  Speaker 3: and so lots and lots of different places during yield
• 11:02
  Speaker 3: and more coming by the day. The goal is to
• 11:04
  Speaker 3: make this super easy for folks though, so you know,
• 11:07
  Speaker 3: expect One of the I think the great components of
• 11:10
  Speaker 3: x stocs here is that both were infrastructure that anyone
• 11:13
  Speaker 3: can use, but also that we are owned by the
• 11:17
  Speaker 3: same parent company, Payward as Kracking, and so Kracken tends
• 11:22
  Speaker 3: to be the place where you can get things first
• 11:24
  Speaker 3: and you can get things easily right away, and so
• 11:27
  Speaker 3: expect to see yield products built right into right into
• 11:31
  Speaker 3: the cracking and cracking pro app over the coming weeks.
• 11:33
  Speaker 1: Well yeah, and I mean, obviously we've got kracking getting
• 11:37
  Speaker 1: a new occ account, so obviously they're moving quickly. So
• 11:41
  Speaker 1: I get that. What about developers when you look at
• 11:44
  Speaker 1: developers that are currently building on x stocks right now
• 11:47
  Speaker 1: in comparison to a third party, in comparison to other
• 11:51
  Speaker 1: platforms that are out there, how are you guys doing?
• 11:53
  Speaker 1: How do you feel like you stand.
• 11:55
  Speaker 3: You know, one of my favorite things is going and
• 11:57
  Speaker 3: seeing X stocks out in the wild where we've actually
• 12:00
  Speaker 3: never been involved in them. So the very first billboard
• 12:03
  Speaker 3: for X stocs was in South Africa and Johannesburg, actually
• 12:07
  Speaker 3: by a company there that used X stocks in their
• 12:11
  Speaker 3: trading app in order to be able to offer equities
• 12:14
  Speaker 3: easily to clients. Similarly with Neil Banklists in Latin America,
• 12:19
  Speaker 3: they've launched a product that has X stocks just built
• 12:21
  Speaker 3: in by default. We're working with thousands of developers, maybe
• 12:24
  Speaker 3: tens of thousands of developers on products that are based
• 12:28
  Speaker 3: on X stocks right now, and a lot of really
• 12:31
  Speaker 3: exciting things coming.
• 12:33
  Speaker 2: One of the things that was most important to.
• 12:34
  Speaker 3: Us and why we launched as an spl and RC
• 12:37
  Speaker 3: twenty was it very easily works into the types of
• 12:41
  Speaker 3: systems and approaches that developers are really used to when
• 12:44
  Speaker 3: they support defive And so we're really pumped about all
• 12:48
  Speaker 3: the things that are coming down the road. Lots already built,
• 12:51
  Speaker 3: lots of grassroots projects, but even more coming.
• 12:55
  Speaker 1: I'm looking here at something that you can do, and
• 12:58
  Speaker 1: I guess the question is when do you think we'll
• 13:00
  Speaker 1: be able to get non US stocks? This is an
• 13:03
  Speaker 1: example of Sony trying to get it in on Robinhood.
• 13:07
  Speaker 1: We're trying because it's talking about what they call it ADR,
• 13:10
  Speaker 1: which is an American Depository receipt. This is a whole
• 13:13
  Speaker 1: problem with being able to do this. What's this look
• 13:15
  Speaker 1: like coming down the pipe?
• 13:17
  Speaker 3: So we were in Hong Kong a few weeks ago
• 13:19
  Speaker 3: thinking about getting Hong Kong and Chinese stocks onto the list.
• 13:23
  Speaker 3: We're working on European stocks and UK stocks, hopefully Indian stocks.
• 13:27
  Speaker 3: I'm hoping this upcoming quarter in Q two will have
• 13:32
  Speaker 3: a number of different X stocks available across different geos.
• 13:38
  Speaker 3: This atomic swapping that we had to build is a
• 13:41
  Speaker 3: key part of helping us go from the just under
• 13:44
  Speaker 3: one hundred X stocks that exists today to tens of
• 13:47
  Speaker 3: thousands of X stocks, which is where we hope to
• 13:49
  Speaker 3: be over the coming quarters. So once we have that,
• 13:53
  Speaker 3: I'm hoping we'll have real worldwide representation and a chance
• 13:57
  Speaker 3: that is just as easy to buy whatever Hong Kong
• 14:00
  Speaker 3: stock you want, or Agen or whatever you want from
• 14:04
  Speaker 3: Europe as easily as you can buy a US stock today.
• 14:06
  Speaker 2: So looking forward to that.
• 14:08
  Speaker 1: I'm looking at Robinhood and they have launched their test net.
• 14:12
  Speaker 1: As we all know, we've been reporting on this for
• 14:14
  Speaker 1: you guys that have been watching the show. We had
• 14:16
  Speaker 1: a big show on this. Active accounts kind of growing here.
• 14:19
  Speaker 1: Number of accounts are obviously growing with the fact that
• 14:22
  Speaker 1: this is launching. How does xtocs stay ahead of someone
• 14:26
  Speaker 1: like a Robinhood in this kind of scenario where they're heading.
• 14:29
  Speaker 3: Into this So firstly, the Robinhood product today is very
• 14:33
  Speaker 3: different from the xdox product. X stocs on Solana, on
• 14:36
  Speaker 3: Ethereum truly permissionless. You don't have to use any centralized
• 14:41
  Speaker 3: exchange ever to access them. And also they're back to
• 14:44
  Speaker 3: one to one that's really really important the same way
• 14:47
  Speaker 3: that you should be. You can trust that a USDC
• 14:49
  Speaker 3: or USDT or USDG have a dollar for every one
• 14:54
  Speaker 3: of those tokens out there. You can trust exactly the
• 14:56
  Speaker 3: same thing at x stocks, which is not necessarily true
• 15:00
  Speaker 3: for options based products like the ones that robin Hood
• 15:03
  Speaker 3: and Gemini have offered. For me, that was a starter
• 15:07
  Speaker 3: must have for these kinds of products is that you
• 15:10
  Speaker 3: always have a right to the value of the underlying
• 15:12
  Speaker 3: share back. And even if x stocks and Kraken didn't
• 15:17
  Speaker 3: exist tomorrow, you would still be able to get your
• 15:20
  Speaker 3: money back, so that's absolutely key.
• 15:23
  Speaker 2: Then on top of that, I like building on.
• 15:28
  Speaker 3: The same way that Kracken supports many stable coins. I
• 15:31
  Speaker 3: expect overtime and many chains. We're going to do the
• 15:34
  Speaker 3: same thing with xtocs. I want to be on every
• 15:37
  Speaker 3: chain where users are at and every chain that developers
• 15:40
  Speaker 3: are at. So today you've got four I hope will
• 15:44
  Speaker 3: be at ten or twenty at some point in the future.
• 15:47
  Speaker 3: But forcing everyone who uses your product onto a single
• 15:52
  Speaker 3: chain and onto your own bespoke chain, that's kind of
• 15:55
  Speaker 3: the antithesis of what we're building with permissionless products.
• 15:57
  Speaker 2: And so I.
• 16:00
  Speaker 3: Think we've got a very open infrastructure mindset here, and
• 16:04
  Speaker 3: that's something that.
• 16:05
  Speaker 2: I think will be quite different than some of the
• 16:06
  Speaker 2: others who are coming.
• 16:07
  Speaker 1: Well, and I think you're getting at something that, you know,
• 16:10
  Speaker 1: I'm very I think high on that list in terms
• 16:13
  Speaker 1: of being able to be completely decentralized off of what
• 16:17
  Speaker 1: the opportunity is, especially into securities and what we're going
• 16:20
  Speaker 1: to see around token is security. So maybe there is
• 16:22
  Speaker 1: a certain amount of djon type you know people that
• 16:25
  Speaker 1: this is a natural for. I just wonder how many
• 16:28
  Speaker 1: traditional investors are going to realize, like the light bulb
• 16:31
  Speaker 1: is going to come on and they're going to make
• 16:33
  Speaker 1: that quantum shift, you know, into this ecosystem. How do
• 16:37
  Speaker 1: you guys feel about that?
• 16:39
  Speaker 2: You see it happening with yield right now.
• 16:41
  Speaker 1: That's a good point.
• 16:42
  Speaker 3: The best yield on dollar is defy yield, and on
• 16:47
  Speaker 3: Kraken you can get access to defy yield with two clicks.
• 16:53
  Speaker 3: We make that really really simple. X STOCS has the
• 16:56
  Speaker 3: potential to bring that same kind of flexibility into the equities.
• 17:01
  Speaker 2: World over time. So we're working on this right now
• 17:04
  Speaker 2: in Europe.
• 17:05
  Speaker 3: On the Kraken side, you won't necessarily need to know
• 17:08
  Speaker 3: the difference on Kraken of whether you're holding traditional equities
• 17:12
  Speaker 3: or x stocs will bring that into the US as well.
• 17:15
  Speaker 3: What if you can do in acats directly to x stocs.
• 17:19
  Speaker 3: You don't even akats is the system by which you
• 17:21
  Speaker 3: could move from a broker to another broker? Can you
• 17:24
  Speaker 3: just do that automatically and just see X stocks on
• 17:26
  Speaker 3: the list when you go to Robinhood, that would be
• 17:30
  Speaker 3: that stuff's all coming. That's not years away, that's months away.
• 17:34
  Speaker 3: And so all of these kinds of things just make
• 17:37
  Speaker 3: it so that x stocs is just another just another
• 17:42
  Speaker 3: form of equities. Do you have to know if you're
• 17:45
  Speaker 3: Tesla or Tesla X.
• 17:47
  Speaker 2: Probably not.
• 17:48
  Speaker 3: And that's why the partnership with Nasdaq is so exciting,
• 17:51
  Speaker 3: because they're going to build a new version of Tesla
• 17:54
  Speaker 3: that's also tokenized, and making that switch between Tesla and
• 17:58
  Speaker 3: Tesla X when you've got a nasdak Tesla token is
• 18:02
  Speaker 3: way easier to do. So looking forward to making this
• 18:06
  Speaker 3: really simple, really sulky smooth, and I hope most investors
• 18:09
  Speaker 3: don't even realize that they're using an Xbox product that
• 18:13
  Speaker 3: is just so simple in their mind, that they're getting
• 18:15
  Speaker 3: the extra yield or they're using in this collateral, they
• 18:17
  Speaker 3: don't even notice.
• 18:18
  Speaker 1: I want to go into our lightning round, which is
• 18:20
  Speaker 1: kind of just a quick answers fast. My first one
• 18:24
  Speaker 1: to you is this twenty four to seven trading isn't
• 18:27
  Speaker 1: sexy enough to convince the normies to use token is stocks.
• 18:30
  Speaker 1: Do you think that's going to be the case or
• 18:31
  Speaker 1: do you think this would be the gateway?
• 18:33
  Speaker 3: Absolutely a gateway, maybe not for Americans. It's most people
• 18:36
  Speaker 3: trade during the day, But actually, as someone who works
• 18:39
  Speaker 3: during the day, I'd like to do my trading at midnight.
• 18:42
  Speaker 1: So yeah, all right, this is a hard one because
• 18:44
  Speaker 1: it's going to be pitting you against Texes. So buying
• 18:48
  Speaker 1: X stocks more on DEXes than kracken, what do you
• 18:50
  Speaker 1: think for sure?
• 18:52
  Speaker 2: More on DEXes than crack and I look forward to
• 18:54
  Speaker 2: that day.
• 18:55
  Speaker 1: All right, there you go. I'm with you on that one.
• 18:58
  Speaker 1: We've got this one X stocks first market advantage. Now
• 19:02
  Speaker 1: everybody's in the game. Once Clarity passes, does that remove
• 19:05
  Speaker 1: your ability to lead the market.
• 19:07
  Speaker 3: I'm not sure Clarity and token ised equities really are
• 19:11
  Speaker 3: as deeply connected. Already feeling pretty clear on what the
• 19:14
  Speaker 3: rule set will be for tokeniced equities.
• 19:16
  Speaker 1: I'm on the fence on this one. I don't know.
• 19:18
  Speaker 1: Not only is it new regulatory water, we're talking about
• 19:21
  Speaker 1: so many new financial instruments out there that are getting exposed,
• 19:25
  Speaker 1: I think for the first time. So it's going to
• 19:26
  Speaker 1: be a tough one. Xdox goes multi chain. I think
• 19:29
  Speaker 1: you answered this. You want to be everywhere absolutely, Yeah,
• 19:34
  Speaker 1: xrpl Avax suite. I'm gonna say it won't be long.
• 19:36
  Speaker 1: You guys are going to be all over this. Then
• 19:39
  Speaker 1: we've got xdox DeFi holders will eventually be forced to KYC.
• 19:44
  Speaker 1: That is a question we get in the comments a lot.
• 19:46
  Speaker 1: What do you think No way.
• 19:48
  Speaker 2: Nope, not absolutely not a very well known what the
• 19:52
  Speaker 2: rules are against us, that's not happening.
• 19:54
  Speaker 1: Okay, I like that. I like that all right? Who
• 19:57
  Speaker 1: benefits most from X stocks? Do you think it's going
• 19:59
  Speaker 1: to be the INC or Solana?
• 20:01
  Speaker 2: Yes? Sorry, put me in the middle there.
• 20:04
  Speaker 3: I guess you're going to be all chains that I
• 20:07
  Speaker 3: focused on token ised equities will win, and there's lots
• 20:10
  Speaker 3: of room for multiple chains. I'm excited for all the
• 20:12
  Speaker 3: cool things we can do on INC, but I'm also
• 20:14
  Speaker 3: excited to work with the Salona team on things there
• 20:17
  Speaker 3: as well.
• 20:17
  Speaker 1: I'm kind of in the Salona camp on this one.
• 20:19
  Speaker 1: I think this is a This is a big win
• 20:20
  Speaker 1: for them, just in terms of access, the amount of holders,
• 20:24
  Speaker 1: the interest in what you know, token ie securities are
• 20:27
  Speaker 1: going to look like token ie stocks will easily ten
• 20:30
  Speaker 1: x Solana's TVL in the first year after clarity. This
• 20:33
  Speaker 1: is around eighteen bill. What do you think.
• 20:36
  Speaker 3: I think it's going to be a little slower than that.
• 20:40
  Speaker 3: I think it'll it'll eventually one hundred x Salona's TVL,
• 20:43
  Speaker 3: but I don't think in that year.
• 20:44
  Speaker 1: I think we got a year, so it's just timing,
• 20:47
  Speaker 1: all right. Well, then I'm gonna I'm gonna jump on
• 20:49
  Speaker 1: the S bandwagon because I think timing is going to accelerate.
• 20:52
  Speaker 1: It's easier to onboard someone via X stocks than brokerages
• 20:55
  Speaker 1: right now.
• 20:56
  Speaker 3: Absolutely, go on telegram, not in the US, but anyway
• 21:00
  Speaker 3: or else.
• 21:00
  Speaker 2: Go on telegram. You can buy an X stocks in
• 21:03
  Speaker 2: a next stock in third.
• 21:04
  Speaker 1: Yeah, it is, it's simple circles. USDC will initially be
• 21:07
  Speaker 1: the dormant of the dominant USD trading pair for most
• 21:11
  Speaker 1: token ised stocks right now. What do you think?
• 21:13
  Speaker 3: I look forward to having a range of different stable coins,
• 21:17
  Speaker 3: but yeah, USDC I think continues to be the dominant
• 21:20
  Speaker 3: on most of this.
• 21:23
  Speaker 1: Yeah, I think it is right now. I think with
• 21:26
  Speaker 1: the explosion of stable coins and what's happening globally, people
• 21:29
  Speaker 1: coming into USDC a lot. What about strategy right now,
• 21:34
  Speaker 1: you've got institutional TVL growth or DGEN holder count, What
• 21:38
  Speaker 1: do you think matters.
• 21:39
  Speaker 2: I'm excited about dgen holder count in the early stage,
• 21:42
  Speaker 2: and the reason for that is DGEN whole count and
• 21:46
  Speaker 2: developers are super deeply connected, and I look forward to
• 21:50
  Speaker 2: building a whole bunch more infrastructure here. That infrastructure will
• 21:53
  Speaker 2: eventually seep into institutional TVL growth. But I think that's
• 21:57
  Speaker 2: going to be the h They're not going to be
• 21:59
  Speaker 2: the earlys in this game.
• 22:01
  Speaker 1: Yeah, if all things were equal, xdox wins because it
• 22:04
  Speaker 1: has well that's a cool brand name.
• 22:08
  Speaker 3: But sure, yeah, definitely a cooler brand name. I much
• 22:12
  Speaker 3: prefer x stocks, but that's not the reason we're going
• 22:15
  Speaker 3: to win.
• 22:15
  Speaker 2: There's a lot of fun.
• 22:17
  Speaker 1: Our guys like to have fun. Hey listen, At the
• 22:20
  Speaker 1: end of the day, brand matters, It really does. Brand matters,
• 22:24
  Speaker 1: So sometimes that stuff is better than you think. What
• 22:28
  Speaker 1: do we talk If xdox had a token, would to
• 22:31
  Speaker 1: have a higher market cap than cracking stock because IPOs
• 22:34
  Speaker 1: have been struggling out there.
• 22:35
  Speaker 2: Man, I am bullish on both right now.
• 22:40
  Speaker 3: I think it's going to be a we have a
• 22:42
  Speaker 3: nice healthy competition going between xtos.
• 22:45
  Speaker 1: I'll put you in the middle. I think yes, x
• 22:48
  Speaker 1: Stocks enters gaming two thousand and seven.
• 22:52
  Speaker 2: I hope.
• 22:53
  Speaker 3: So we look forward to having developers build.
• 22:56
  Speaker 2: All sorts of really fun stuff.
• 22:58
  Speaker 3: We've been playing a lot with certain developers on like
• 23:02
  Speaker 3: really fun gamified trading experiences, so that's a part of this.
• 23:06
  Speaker 3: But will the Xbox team be building? Maybe not, but
• 23:11
  Speaker 3: I hope.
• 23:11
  Speaker 2: We'll have a huge ecosystem developers. I hope everybody's building everywhere.
• 23:15
  Speaker 1: Yeah, this is a hard area. I think it's a
• 23:18
  Speaker 1: toss up right now is to see who wins it. Listen.
• 23:21
  Speaker 1: It's always fun breaking this stuff down. Thanks so much
• 23:23
  Speaker 1: for stopping in today. We appreciate it.
• 23:25
  Speaker 2: I really appreciate it. Thanks for having me. If you
• 23:34
  Speaker 2: like this.
• 23:35
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• 23:38
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• 23:41
  Speaker 1: in the description.