Latest / The Paul Barron Crypto Show / XRP Vault Yields Coming in September!?🔥Flare CEO INTERVIEW

Transcript

XRP Vault Yields Coming in September!?🔥Flare CEO INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Today we want to explore a little bit more around
• 0:02
  Speaker 1: what's going on with XRP and also vaults that could
• 0:05
  Speaker 1: be playing into the equation. It's going to be a
• 0:07
  Speaker 1: good one. My name is Paul Berreon, welcome back into
• 0:08
  Speaker 1: the show. I do want to thank our sponsor and
• 0:11
  Speaker 1: that is Gemini. And guess what you guys can actually
• 0:13
  Speaker 1: engage with an XRP credit card over on Gemini right now,
• 0:18
  Speaker 1: meet the XRP addition. It works just like the other
• 0:21
  Speaker 1: credit cards that are within the Gemini platform. This works
• 0:23
  Speaker 1: in conjunction with the Gemini Trading app, so it's very
• 0:28
  Speaker 1: dialed in and of course the way to get it
• 0:30
  Speaker 1: is just use our link down below. It's going to
• 0:31
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• 0:33
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• 0:37
  Speaker 1: and transit, but it also goes into dining, groceries, all
• 0:40
  Speaker 1: that good stuff. And this is direct XRP as an
• 0:44
  Speaker 1: asset right into the card itself, so it goes right
• 0:46
  Speaker 1: into your traditional exchange account and you can also get
• 0:51
  Speaker 1: a bonus of up to two hundred XRP just by
• 0:53
  Speaker 1: going through the whole process, which is where if you
• 0:56
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• 1:00
  Speaker 1: Going to give another two hundred bucks as well. This
• 1:02
  Speaker 1: is a MasterCard World Elite check it out below. It
• 1:05
  Speaker 1: always helps the channel, all right, So I wanted to
• 1:07
  Speaker 1: bring in Hugo Filion, who is the CEO of Flair.
• 1:11
  Speaker 1: You guys have probably heard us talk about this before,
• 1:14
  Speaker 1: but Hugo, welcome to the show.
• 1:15
  Speaker 2: Hey, cool, thanks for having me.
• 1:17
  Speaker 1: Excellent. So obviously our topic today is to really dive
• 1:20
  Speaker 1: in a little bit on vaults. Vaults for many of
• 1:24
  Speaker 1: you that are maybe brand new to crypto or a
• 1:26
  Speaker 1: place where you can start to inject capital and earn
• 1:30
  Speaker 1: what has been pretty high performing yields. And we'll explain
• 1:33
  Speaker 1: how that actually works. But you go, I'm looking at
• 1:36
  Speaker 1: Firelight right now. Give me a little bit of an
• 1:39
  Speaker 1: ups update of where you guys are with Firelight. Give
• 1:43
  Speaker 1: me kind of a.
• 1:44
  Speaker 2: Rundown absolutely so. Bylight is an application built on Flare
• 1:50
  Speaker 2: by our partners at Center Front. We put out a
• 1:53
  Speaker 2: cool for projects to build a staking application for what
• 1:58
  Speaker 2: we call FXRB, which is XRP that has been moved
• 2:01
  Speaker 2: to FLA. Flair is certain layer one and Filight is
• 2:05
  Speaker 2: that staking application and we've partnered with them, and there
• 2:07
  Speaker 2: are a very well known data and a kind of
• 2:11
  Speaker 2: investment manager in the defile space, and this is their
• 2:15
  Speaker 2: first application that the learning token. Because the opportunity in
• 2:19
  Speaker 2: XRP s taking and the opportunity to transform x ORP
• 2:23
  Speaker 2: from an asset for transaction fees on the XRP leder
• 2:26
  Speaker 2: into a more widely used asset is absolutely huge. So
• 2:32
  Speaker 2: Filight are in the process of I know they've had
• 2:34
  Speaker 2: one audit, they've they're doing an education process at the moment,
• 2:39
  Speaker 2: they're waiting for us to launch FXRP, which we should
• 2:42
  Speaker 2: be in September, and then they will be launching soon
• 2:46
  Speaker 2: after we've launched FXRP on Flare. So, as I said,
• 2:50
  Speaker 2: Flaier is certainly one. We can get into that a
• 2:52
  Speaker 2: bit later why it exists and what plans are, but
• 2:54
  Speaker 2: Flare is very much around, you know, its first product
• 2:58
  Speaker 2: is very much around bringing you to to XARP and
• 3:02
  Speaker 2: other assets that don't have small contracts, which are the
• 3:06
  Speaker 2: majority of the value in the space, and bringing utility
• 3:09
  Speaker 2: to those assets and allowing them to be used in
• 3:12
  Speaker 2: DeFi and really quite exotic use cases.
• 3:15
  Speaker 1: Now you're talking about this launching in September, Obviously we'll
• 3:19
  Speaker 1: probably see some significant flow into this platform when you
• 3:24
  Speaker 1: look at the size of crypto in general. Obviously the
• 3:28
  Speaker 1: XRP army out there does a pretty good job at
• 3:31
  Speaker 1: kind of influencing where some of these market expansions are
• 3:34
  Speaker 1: obviously with XRP, which has not had a lot of
• 3:37
  Speaker 1: opportunities like this, so this could be kind of the
• 3:40
  Speaker 1: go to place. How secure do you feel like Firelight
• 3:44
  Speaker 1: will be explain to me a little bit more about
• 3:47
  Speaker 1: maybe the security side of what Firelight would look like.
• 3:50
  Speaker 2: Yeah, so let's I guess step back and first of
• 3:53
  Speaker 2: all think about what Firelight is doing. Filight has two
• 3:57
  Speaker 2: main things. You stake your FX, which is known as
• 4:00
  Speaker 2: flair xorp into Firelight, and you can stake it to
• 4:05
  Speaker 2: I guess, multiple different pools. And these are different ESSs
• 4:09
  Speaker 2: economically secured services. So some of those sss can be
• 4:13
  Speaker 2: conventional restate services in the similar to things like ey
• 4:18
  Speaker 2: can layer, such as a market for blockchain security. I
• 4:23
  Speaker 2: want to I want to secure a proof of state
• 4:26
  Speaker 2: based system. I would like to be able to grow
• 4:29
  Speaker 2: that security very quickly, and I can harness XORP to
• 4:32
  Speaker 2: do that. The market for state security exists, but is
• 4:39
  Speaker 2: unlikely to expand at a rapid pace. And so we've
• 4:43
  Speaker 2: been working with Firelight and they have this concept of
• 4:46
  Speaker 2: economically secured services. So this is more about putting your
• 4:49
  Speaker 2: XRP to work in more conventional economic ways. So really
• 4:54
  Speaker 2: the first major product that will come onto Firelight is
• 4:58
  Speaker 2: effectively your XRP access insurance pool against extremely low risk protocols,
• 5:04
  Speaker 2: protocols like RFA potentially where you know they've been battle
• 5:08
  Speaker 2: tested for you know, over five years, they have multiple
• 5:11
  Speaker 2: billions of capital in them. You're taking second you know,
• 5:16
  Speaker 2: in most cases I would imagine second loss risk, not
• 5:19
  Speaker 2: first loss, absolutely critical, but you get paid for providing
• 5:23
  Speaker 2: that insurance. Now, of course, you know with reward comes risk.
• 5:30
  Speaker 2: You can't have one without the other. But the idea
• 5:33
  Speaker 2: of economically secured services is that they broadly mirror in
• 5:37
  Speaker 2: terms of the risk that you're taking conventional staking. So
• 5:42
  Speaker 2: we're not talking about, you know, an economically secured service
• 5:46
  Speaker 2: where you're buying deep out of the money calls. You
• 5:50
  Speaker 2: know that that is not a comparable risk is taking.
• 5:54
  Speaker 2: This is places where this is things where you have
• 5:57
  Speaker 2: very very low risk of getting hit, as in taking
• 6:00
  Speaker 2: a loss and your loss is contained and subscribed, and
• 6:04
  Speaker 2: so this is this is the concept of economically secured services.
• 6:07
  Speaker 2: The first place that that really works is insurance. The
• 6:11
  Speaker 2: second place that that probably works is real world asset
• 6:15
  Speaker 2: liquidity on chain. If you know much about the real
• 6:18
  Speaker 2: world asset market in crypto, you'll know that it's not
• 6:22
  Speaker 2: the most liquid market. You'll also know that it's less
• 6:27
  Speaker 2: liquid at the weekend conventional markets closed, and so there's
• 6:32
  Speaker 2: a whole concept around how we bootstrap our wa liquidity
• 6:37
  Speaker 2: and economically secured services are a very good option for that.
• 6:41
  Speaker 1: Because that's one of the things when I look at vaults.
• 6:43
  Speaker 1: When we're analyzing a lot of these vaults right now,
• 6:45
  Speaker 1: and we're testing quite a few of them, many times
• 6:48
  Speaker 1: I look at it and I feel like the risk
• 6:50
  Speaker 1: level is a little bit high, and I immediately, for me,
• 6:54
  Speaker 1: I'm a little bit less tolerant of risk, and it
• 6:57
  Speaker 1: will try to find some opportunities out there that still
• 7:00
  Speaker 1: have great opportunity benefits, but not necessarily as much caring
• 7:04
  Speaker 1: as much risk. So I liked what you're saying.
• 7:05
  Speaker 2: Yes, we wanted to be very careful here with firelight,
• 7:10
  Speaker 2: with the whole concept of staking XRP. I've seen a
• 7:13
  Speaker 2: lot of the products out there, and they're very market based.
• 7:15
  Speaker 2: They're very much about Okay, I go to someone puts
• 7:19
  Speaker 2: their XRP in, and then you get some traders who
• 7:23
  Speaker 2: are running the vault, who go and effectively put positions
• 7:26
  Speaker 2: on centralized exchanges, whether they have negotiated with that centralized
• 7:31
  Speaker 2: exchange to hold those assets off the balance sheet of
• 7:35
  Speaker 2: the centralized exchange. Because if you're big enough you can
• 7:37
  Speaker 2: do that, you can effectively be ensured against a bankruptcy
• 7:42
  Speaker 2: of that centralized exchange. That's how many of the large
• 7:45
  Speaker 2: players in the industry reduce their risk. But I don't
• 7:48
  Speaker 2: think the major vaults in you know, in this space,
• 7:52
  Speaker 2: especially XRP vaults, are doing that. And I also think
• 7:56
  Speaker 2: fundamentally it's important that people understand the risk they're taking,
• 8:00
  Speaker 2: and I think that the vault structure needs to be
• 8:03
  Speaker 2: very clear what this I guess you might call it
• 8:06
  Speaker 2: staked XRP is being used for. I wouldn't really call
• 8:10
  Speaker 2: the existing XRP staking sort of similar to staking, because
• 8:14
  Speaker 2: it's a totally different risk category. What we wanted to
• 8:17
  Speaker 2: do with Firelight was do something that was really as
• 8:20
  Speaker 2: close to staking in the conventional sense as possible.
• 8:23
  Speaker 1: I'm looking at the diagram here bringing it across from
• 8:27
  Speaker 1: XRP into an f asset. Obviously it goes into f
• 8:29
  Speaker 1: XRP in the firelight. Now we have steak XRP. What
• 8:34
  Speaker 1: about the dexa's lending protocols, even yield markets are those
• 8:39
  Speaker 1: going to be out there?
• 8:40
  Speaker 2: Interesting? So this exists already on flare. Once you put
• 8:44
  Speaker 2: your FXRP in filight, you received the state tex RP.
• 8:48
  Speaker 2: Not far's absolutely critical, right, So then you've got your
• 8:53
  Speaker 2: XRP in filight earning a return. You then have this
• 8:57
  Speaker 2: steak TEXRP, which is a liquid representation of your stake.
• 9:01
  Speaker 2: It has value which should be almost identical to the
• 9:05
  Speaker 2: XOP that you have put in because the risk of
• 9:08
  Speaker 2: staking the firelight is low. And then you can then
• 9:11
  Speaker 2: use it on a dex or a lending protocol. So
• 9:14
  Speaker 2: let's say you wish to derive further yield from your
• 9:17
  Speaker 2: XOP you have stated in filight. You know have state XOLP.
• 9:20
  Speaker 2: You can now take it to a lending protocol, borrow
• 9:22
  Speaker 2: dollars against it, then lend those dollars out and for
• 9:27
  Speaker 2: a yield. So that allows you to transform your XRP
• 9:30
  Speaker 2: from a non yielding asset to an asset that derives
• 9:34
  Speaker 2: yield from at least two sources. And that's kind of
• 9:38
  Speaker 2: the concept behind why we wanted to liquid staking protocol
• 9:42
  Speaker 2: that then lets you do more with your XOP.
• 9:44
  Speaker 1: That's fantastic because I think that is well, first of all,
• 9:47
  Speaker 1: gives you a lot of flexibility with your XRP, and
• 9:49
  Speaker 1: I think really starts to kind of ramp up the
• 9:51
  Speaker 1: opportunities you have in terms of getting more yield. With
• 9:55
  Speaker 1: that being said, as you start to move forward with FLAIR,
• 9:58
  Speaker 1: and I wanted to kind of hit on EVO because
• 10:00
  Speaker 1: we are seeing some of these DAT companies, digital asset
• 10:04
  Speaker 1: treasury companies out there, obviously Vivo being one of them.
• 10:07
  Speaker 1: But you guys are doing something specific around yield generation.
• 10:11
  Speaker 1: Can you talk about that.
• 10:13
  Speaker 2: So one of the most important aspects of AD company
• 10:15
  Speaker 2: is you want to be able to grow your stake
• 10:18
  Speaker 2: in the network. Let's say in this instance it's XOP.
• 10:23
  Speaker 2: You don't want to have to keep raising money in
• 10:25
  Speaker 2: order to increase your position. You know, you raise money
• 10:29
  Speaker 2: when your equity value is higher than your net asset value.
• 10:33
  Speaker 2: There's lots of routes to do it, but largely a
• 10:36
  Speaker 2: lot of people have done offerings when their equity value
• 10:38
  Speaker 2: is higher than their net asset value. But an alternative
• 10:42
  Speaker 2: way to do it is, if you have an asset
• 10:43
  Speaker 2: that yields, you can convert that yield back into the
• 10:47
  Speaker 2: currency of your choice. You know, if you've got XOPPY
• 10:50
  Speaker 2: and you can derive let's say eight percent, then your
• 10:53
  Speaker 2: treasury your balance is increasing an eight percent per year,
• 10:58
  Speaker 2: which is a very good way to do it. So
• 11:01
  Speaker 2: we were talking with Viva Power. They like what Flair
• 11:04
  Speaker 2: is doing, they like what Firelight is doing. They like
• 11:06
  Speaker 2: our downstream DeFi ecosystem from mistaking. You know, they decided
• 11:10
  Speaker 2: to commit one hundred million dollars of XRP to the
• 11:15
  Speaker 2: Flare ecosystem.
• 11:16
  Speaker 1: So do you feel like this is going to be
• 11:18
  Speaker 1: one of the tool sets that institutional capital could come
• 11:21
  Speaker 1: in and say, hey, this is a great example of
• 11:24
  Speaker 1: how XRP can be pooked to work. Do you anticipate
• 11:27
  Speaker 1: more companies kind of joining what Vivo is doing and
• 11:30
  Speaker 1: starting to use Flair as the outlet.
• 11:32
  Speaker 2: Absolutely. You know, we think that one of the larger
• 11:37
  Speaker 2: sort of opportunities for FLAIR in the space is digital
• 11:42
  Speaker 2: asset treasury companies like Vivo, the hold XLP and there
• 11:46
  Speaker 2: are a few, but Viva's one of the biggest, if
• 11:49
  Speaker 2: not the biggest, but exchanges as well, because I think
• 11:53
  Speaker 2: around eighty percent of people the whold XLP are holding
• 11:55
  Speaker 2: their XLP on an exchange, and exchanges want to go
• 11:59
  Speaker 2: to offer their customers a way to get yield on
• 12:03
  Speaker 2: the token sair holding. So you know, really our focus
• 12:06
  Speaker 2: in business development around the DeFi ecosystem for XRP on
• 12:10
  Speaker 2: Flare and for Firelight has been around courting exchanges and
• 12:15
  Speaker 2: then of course having other types of vaults not Firelight.
• 12:19
  Speaker 2: So one of the things that's quite nice and a
• 12:22
  Speaker 2: huge differentiator between the vaults that currently exist on XP
• 12:25
  Speaker 2: and the vaults that can exist on a smart contract
• 12:28
  Speaker 2: chain like Flare is that the vaults for XRP naturally
• 12:31
  Speaker 2: go and get their economic exposure through a centralized exchange.
• 12:36
  Speaker 2: The problem with that is they have a counterparty risk.
• 12:39
  Speaker 2: They have a counterparty risk with that centralized exchange, meaning
• 12:42
  Speaker 2: if that centralized exchange gets bankrupt, then the money that
• 12:45
  Speaker 2: that vault provider has put on that centralized exchange may
• 12:49
  Speaker 2: be lost. That's rather unpleasant and we've seen that before.
• 12:52
  Speaker 2: In fact, we've seen it many times in our industry.
• 12:55
  Speaker 2: One of the things about vaults with regards to flare DeFi,
• 12:58
  Speaker 2: and there will be vault offerings for fled DeFi specifically
• 13:01
  Speaker 2: that are separate from Firelight. One of the things about
• 13:04
  Speaker 2: vaults that can use for their DeFi is those strategies
• 13:07
  Speaker 2: can be carried out entirely on chain and therefore you
• 13:10
  Speaker 2: don't have the same exposure to the credit of the exchange.
• 13:16
  Speaker 2: And this means that you're using a dex an on
• 13:19
  Speaker 2: chain lending protocol, an on chains protocol, and so whilst
• 13:23
  Speaker 2: there is still economic risk with regards to the markets,
• 13:26
  Speaker 2: the price risk or liquidation risk, you don't have the
• 13:30
  Speaker 2: same risk counterparty risk and this is quite nice relative
• 13:34
  Speaker 2: to the vaults that currently exist on x or.
• 13:36
  Speaker 1: Is there any model in which this could work with
• 13:40
  Speaker 1: some of the lending platforms out there, because you have
• 13:42
  Speaker 1: lending platforms now starting to propagate, many of which have
• 13:45
  Speaker 1: talked about putting XRP as an asset class within their
• 13:49
  Speaker 1: loan structure. Is there a way to somehow integrate what
• 13:53
  Speaker 1: Flair is doing for active loans something like a morpho.
• 13:57
  Speaker 2: Absolutely absolutely so. We've been talking to a lot of
• 14:00
  Speaker 2: them more for like entities, and you know they're very
• 14:04
  Speaker 2: keen on coming to Flair ecosystem interesting.
• 14:07
  Speaker 1: That's intriguing to me to say.
• 14:09
  Speaker 2: I'd also say that you know, more more classic trap
• 14:13
  Speaker 2: five loan companies you know, are also very interesting because
• 14:18
  Speaker 2: they hold large an effets RP and they want to
• 14:23
  Speaker 2: effectively get more XRP. They like, why wouldn't they compete
• 14:26
  Speaker 2: in the market, and you know, if they can get
• 14:29
  Speaker 2: yield out of that, that's that's that's a good, fantastic Well.
• 14:32
  Speaker 1: I think this is uh, this is going to really
• 14:34
  Speaker 1: start to advance what's happening in the vault business, especially
• 14:39
  Speaker 1: because it's still very early and there's a lot of
• 14:41
  Speaker 1: new products out there. You know, we're looking at Doppler
• 14:44
  Speaker 1: Finance good example, you know, in terms of their XRP vault.
• 14:48
  Speaker 1: Will this be do you know, and we haven't seen
• 14:50
  Speaker 1: numbers yet coming out of what we've seen with Firelight,
• 14:53
  Speaker 1: but do you think this is going to be competitive
• 14:55
  Speaker 1: with some of the other vaults that are out there
• 14:56
  Speaker 1: in the market.
• 14:57
  Speaker 2: I definitely think it'd be competitive, But of course, all
• 15:00
  Speaker 2: return relates to risk. Ultimately, the more risk you take,
• 15:04
  Speaker 2: the higher return you will get. But I do think
• 15:06
  Speaker 2: it would be competitive, and I think it would be
• 15:09
  Speaker 2: a little better in terms of returns for the same
• 15:12
  Speaker 2: level of risk. Really, what you want to get is
• 15:14
  Speaker 2: the highest return for the risk you're taking.
• 15:16
  Speaker 1: Well, and if you look at what piercyst, of course
• 15:20
  Speaker 1: this is kind of the one that everybody's comparing against.
• 15:23
  Speaker 1: This is obviously on the EBM side chain.
• 15:26
  Speaker 2: Why would people come to Flare and Firelight versus Piercist exactly, Yes, Well,
• 15:30
  Speaker 2: I think one of the things that is very interesting
• 15:34
  Speaker 2: from a simply competition perspective is that Flair has built
• 15:40
  Speaker 2: Flair by itself almost entirely. We raise the financing for it,
• 15:44
  Speaker 2: we build the team, and we've always been agile in
• 15:47
  Speaker 2: that sense. We've always been very big supporters of XRP.
• 15:50
  Speaker 2: In fact, we Air dropped our token to the XRP holders.
• 15:53
  Speaker 2: That has enabled us to take a different view on
• 15:56
  Speaker 2: how markets work. With respect to the Piercist team, they
• 15:59
  Speaker 2: are employed team, They're an external contractor, and I just
• 16:04
  Speaker 2: frankly don't believe that an external contractor can never really
• 16:07
  Speaker 2: have as much skin in the game as a huge
• 16:11
  Speaker 2: entrepreneurial team. And I think really the testament to that
• 16:17
  Speaker 2: is that you know, Firelight chose to launch on Flair
• 16:20
  Speaker 2: didn't choose to launch on the persist XRP EVM side chain.
• 16:28
  Speaker 2: That's because Claire understands better what is needed in the market,
• 16:34
  Speaker 2: because we have a lot more to lose. Well.
• 16:38
  Speaker 1: Yeah, usually when you have that much skin in the game,
• 16:39
  Speaker 1: and it does change your perspective on things for sure.
• 16:42
  Speaker 1: In terms of yield products, will we see most of
• 16:45
  Speaker 1: the new products coming out on Firelight in the beginning
• 16:48
  Speaker 1: or will they phase in products as they grow?
• 16:50
  Speaker 2: As they grow, I think they'll phase in products. Have
• 16:54
  Speaker 2: our multi year planning cycle. Obviously you can see how
• 16:58
  Speaker 2: the market takes the first which it's probably going to
• 17:01
  Speaker 2: be insurance. But once you've got that, there's multiple other
• 17:06
  Speaker 2: use cases. Okay, again, each each thing you talk about
• 17:09
  Speaker 2: is an entire market that has to be built, developed,
• 17:12
  Speaker 2: fleshed out, and optimized. So I think there's going to
• 17:16
  Speaker 2: be multiple expansions of Firelight over a couple of years.
• 17:21
  Speaker 1: Yeah, for sure. You go, how much DeFi do you
• 17:24
  Speaker 1: think is going with the DeFi ecosystem within XRP now
• 17:28
  Speaker 1: starting to expand how much do you think is going
• 17:30
  Speaker 1: to be unlocked just this year? In the last few
• 17:33
  Speaker 1: months of this year.
• 17:34
  Speaker 2: I mean, I'd like to see flare at five billion
• 17:38
  Speaker 2: XRP by mid twenty twenty six. Don't know about the
• 17:41
  Speaker 2: last period of this year. Market's bit of all at all,
• 17:45
  Speaker 2: but I'd like to see flare of five billion x
• 17:47
  Speaker 2: or five billion the middle. It's twenty six.
• 17:49
  Speaker 1: I mean, what are you seeing out there? What are
• 17:51
  Speaker 1: you hearing people saying, Hey, I'm going to deploy fifty
• 17:53
  Speaker 1: percent of my assets into platforms like this? Twenty percent
• 17:57
  Speaker 1: of my assets? What's a good balance? It's there because
• 18:00
  Speaker 1: for me, I've been looking at a variety of vaults
• 18:03
  Speaker 1: and trying to diversify within them. What do you think
• 18:06
  Speaker 1: is the best?
• 18:07
  Speaker 2: So I think it entirely depends on your personal circumstances,
• 18:11
  Speaker 2: what your portfolio looks like, what your holdings look like.
• 18:14
  Speaker 2: You know, when a product is new, I would always
• 18:17
  Speaker 2: be a little more careful there probably, you know, wouldn't
• 18:21
  Speaker 2: go above twenty five percent of my assets as I
• 18:24
  Speaker 2: start to understand the product and as the product proves
• 18:26
  Speaker 2: out its capabilities and also it's safety. If I was
• 18:31
  Speaker 2: inclined to do so, I would increase my my sizing.
• 18:34
  Speaker 1: Yeah, just feather in. Well, I think this is one
• 18:36
  Speaker 1: of those things always test, verify, try all these different
• 18:40
  Speaker 1: platforms out there, even though you should be doing your
• 18:43
  Speaker 1: research on each one of them individually. But I'm always
• 18:46
  Speaker 1: concerned about centralizing too much of an asset bag in
• 18:49
  Speaker 1: one area, so I'm always looking for, you know, additional
• 18:52
  Speaker 1: opportunities out there.
• 18:54
  Speaker 2: I think there's a fundamental difference between a vault where
• 18:57
  Speaker 2: someone has the right to use that to and that
• 19:00
  Speaker 2: was the person is the manager of the vault, yes,
• 19:03
  Speaker 2: and a protocol which is fully decentralized.
• 19:06
  Speaker 1: Yeah.
• 19:06
  Speaker 2: I would feel more comfortable putting my money in a
• 19:08
  Speaker 2: protocol where that money can't just be used however that protocol,
• 19:14
  Speaker 2: however the vault manager wishes. I would be more comfortable
• 19:17
  Speaker 2: putting my money in a decentralized protocol that can only
• 19:21
  Speaker 2: use the money in ways to prescribed by the small contract.
• 19:24
  Speaker 1: Right, Yes, for sure. Yeah, very critical, and I think
• 19:27
  Speaker 1: that's something that one kudos to you guys for bringing
• 19:30
  Speaker 1: this to Marcus, and I think that is one of
• 19:31
  Speaker 1: the uniqueness elements that you guys have kind of dialed
• 19:35
  Speaker 1: in here. So Hugo, it's been great having you on
• 19:37
  Speaker 1: the show. Thank you so much. We're going to be
• 19:39
  Speaker 1: watching this closely as you launch, and then we'll be
• 19:42
  Speaker 1: testing it. We'll check it out. We'll talk about it
• 19:45
  Speaker 1: probably on the show here. Of course, thanks again for
• 19:47
  Speaker 1: coming in. We appreciate it, my pleasure.
• 19:49
  Speaker 2: Thank you.
• 19:50
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• 19:53
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• 19:54
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• 19:57
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• 20:00
  Speaker 1: up for you, guys, and of course follow me out
• 20:02
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• 20:04
  Speaker 1: time right here on the Paul Baron Show.