Latest / The Paul Barron Crypto Show / AVAX Shatters All-Time High Transactions!!🔥Pharaoh Exchange INTERVIEW🔥 $PHAR
Transcript
- 0:06Speaker 1: You guys have been asking for this, and that is
- 0:08Speaker 1: a breakdown on Avalanche and go a little bit deeper
- 0:10Speaker 1: on some of the big projects out there today.
- 0:12Speaker 2: We're going to do that for you.
- 0:13Speaker 1: My name is Paul Barret, will come back on a
- 0:14Speaker 1: tech path. Let's get started. I just want to lead
- 0:16Speaker 1: off with the big question, and that is with all
- 0:20Speaker 1: these l ones launching and the kind of growth we've
- 0:23Speaker 1: seen in transactions. Just look at this chart right now
- 0:26Speaker 1: daily transaction count all indexed l ones absolutely exploding right
- 0:31Speaker 1: here on the avax ecosystem. And I think a lot
- 0:34Speaker 1: of you are asking that question of why have we
- 0:36Speaker 1: not seen price action much like eth or some other
- 0:40Speaker 1: tokens out there on Avalanche. Well, hopefully we can kind
- 0:42Speaker 1: of get some of that and break it down for you.
- 0:44Speaker 1: Other things that are happening that are very bullish for
- 0:46Speaker 1: the avax ecosystem is if you look at the amount
- 0:49Speaker 1: of layer ones and layer twos that are being dominated
- 0:52Speaker 1: here there's the Cochino Net. You've got a variety including
- 0:57Speaker 1: even DEX a lot down there at number ten point
- 0:59Speaker 1: being there is a lot of activity that is happening
- 1:02Speaker 1: within the avax ecosystem. Looking at DEX screener, you can
- 1:07Speaker 1: kind of see some of the winners. Also, let me
- 1:09Speaker 1: kind of zoom in on this for you guys, so
- 1:10Speaker 1: you can kind of see what I'm looking at. Notice
- 1:12Speaker 1: that little insignia right there, Well, that's Arena. Arena has
- 1:16Speaker 1: really started to accelerate. Of course, that's one of the
- 1:19Speaker 1: tokens that has been very very effective in terms of
- 1:23Speaker 1: price action here recently, total transactions, total value locks has
- 1:27Speaker 1: started to explode. The other thing that is starting to
- 1:31Speaker 1: play into this is Pharaoh now Pharaoh Exchange. We're going
- 1:34Speaker 1: to have Austin on here in a second to talk
- 1:36Speaker 1: about this, but they also have started to explode in TVL.
- 1:40Speaker 1: So again, all very good news for the avax ecosystem.
- 1:44Speaker 1: When you look at the dex is, you look at
- 1:46Speaker 1: some of the projects, you look at the meme tokens,
- 1:48Speaker 1: you look at everything that's happening on the l ones.
- 1:51Speaker 2: But yet the.
- 1:52Speaker 1: Price has not moved. So are we due for something
- 1:56Speaker 1: very very soon? Last up, of course, one of the
- 1:59Speaker 1: things I want to showcase right here, and we'll get
- 2:02Speaker 1: on Pharaoh the Pharaoh team today is Pharaoh's leading the
- 2:05Speaker 1: way right here.
- 2:06Speaker 2: You can kind of see and this is going head
- 2:08Speaker 2: to head with Trader Joe.
- 2:09Speaker 1: Remember Trader Joe rebranded to LFG or LFJ and I
- 2:14Speaker 1: always want to say LFG, but LFJ and.
- 2:18Speaker 2: I think this kind of confused.
- 2:19Speaker 1: A lot of people had also created a lot of
- 2:22Speaker 1: branding mismatches for that. So I'm gonna ask the Pharaoh
- 2:24Speaker 1: team about that here in a second, but I want
- 2:27Speaker 1: to bring in Austin coming in from Pharaoh to kind
- 2:30Speaker 1: of break this down.
- 2:30Speaker 2: Hey Austin, how are you?
- 2:32Speaker 3: Hey? I'm doing well man, how are you? Paul?
- 2:34Speaker 2: Excellent? Excellent.
- 2:35Speaker 1: So as you can see a lot of good activity
- 2:37Speaker 1: within the AVAX ecosystem. Obviously, Pharaoh has been absolutely killing
- 2:41Speaker 1: it in terms of TVL and also just activity in
- 2:45Speaker 1: general on the decks. Why do you think you guys
- 2:47Speaker 1: have been able to get so much away from Trader Joe?
- 2:51Speaker 2: What do you think has been the mix?
- 2:52Speaker 4: One of the things that we did a little bit
- 2:54Speaker 4: differently was founder led marketing. Me as the founder, I
- 2:58Speaker 4: went into the trenches. I went into every single community
- 3:00Speaker 4: that I could, and I talk to anybody that would
- 3:03Speaker 4: listen about Pharaoh, and I did that for over six months.
- 3:06Speaker 4: People may not know this if you're outside the avalanche ecosystem.
- 3:09Speaker 4: But it's very hard to incubate a project unless you
- 3:11Speaker 4: get community favored. So that was my overall go at first.
- 3:15Speaker 4: And then also the incentive structure of pharaoh Exchange is
- 3:19Speaker 4: a lot different than lfj's, right, the incentive model behind
- 3:23Speaker 4: Pharaoh emissions and then being able to lock up these
- 3:25Speaker 4: emission tokens to take off the float supply and then
- 3:28Speaker 4: earn one hundred percent of the revenue from the platform. Right,
- 3:31Speaker 4: One hundred percent of those trading fees that happen our
- 3:34Speaker 4: on our platform go to token holders, And I think.
- 3:36Speaker 3: That is a restpect for success.
- 3:39Speaker 4: Yeah, and you share everything from your app to your users,
- 3:44Speaker 4: it resonates well and you build an army of people
- 3:47Speaker 4: that want to talk about it, right, Like I have
- 3:49Speaker 4: people that want to talk about like how much they're
- 3:52Speaker 4: earning on this platform. You know, people come up to
- 3:54Speaker 4: me all the time or message me and say thank you.
- 3:57Speaker 4: You know, they're paying their mortgage or they're paying That's impactful,
- 4:00Speaker 4: right like that that gets people engaged into the ecosystem.
- 4:03Speaker 4: And I think ultimately with me being so vocal and
- 4:05Speaker 4: transparent and in front of everybody was a was a
- 4:09Speaker 4: real big key to success. Without patting myself on the
- 4:12Speaker 4: back too much. But otherwise, the actual incitive model really
- 4:16Speaker 4: does well when people are educated and understand what it's doing.
- 4:20Speaker 1: Well, I'm looking here at the trading volume and the
- 4:22Speaker 1: market share and you can kind of see really right
- 4:25Speaker 1: now LFJ versus Pharaoh, guys going head to head here,
- 4:29Speaker 1: you can start to see you guys are starting to
- 4:31Speaker 1: eat away at market share in a big way right now.
- 4:34Speaker 3: So that's pretty If you scroll down to the fees,
- 4:37Speaker 3: If you scroll down to the fees, I think that's
- 4:40Speaker 3: big indicator.
- 4:41Speaker 2: Yeah, that like, we.
- 4:42Speaker 4: Value fees on our platform, right, Like we want fees
- 4:45Speaker 4: to go to tokenholders, and that's our goal, right, so
- 4:47Speaker 4: we drive volume where fees can be produced.
- 4:49Speaker 1: And I think, explain, yeah, explain to me the pharaoh
- 4:54Speaker 1: model in terms of holder value and what it means.
- 4:58Speaker 1: What are the processes of how they can earn.
- 5:01Speaker 2: Get into the details of that. Yeah.
- 5:03Speaker 3: So essentially pharaoh is what we call metadex.
- 5:06Speaker 4: Essentially Pharaoh emits on a weekly basis, and then that
- 5:10Speaker 4: pharaoh can be locked into a four year contract and
- 5:14Speaker 4: the people that lock get a NFT called V Pharaoh, right,
- 5:17Speaker 4: and they can take that V Pharaoh and they actually
- 5:20Speaker 4: dictate where all emissions of pharaoh go for the following week. Right,
- 5:24Speaker 4: So if everybody colluded somehow every holder and voted one
- 5:28Speaker 4: hundred percent for avax USDC, all pharaoh that was going
- 5:32Speaker 4: to emit next week would all go to avax USDC. Now,
- 5:36Speaker 4: it's not a vacuum, and obviously people are going to
- 5:38Speaker 4: vote where with their wallets, right, So they're going to
- 5:41Speaker 4: vote for the most impactful payers that produce the most
- 5:43Speaker 4: fees since they get one hundred percent of them. And
- 5:46Speaker 4: by doing this, it makes the platform mold to the
- 5:50Speaker 4: most profitable. Right. Because everybody's voting with their wallets, they're
- 5:54Speaker 4: wanting to gain the most amount of money, and so
- 5:57Speaker 4: their behavior is aligned with what our platform on, which
- 6:00Speaker 4: is to grow, to grow TVL, to grow fees, and
- 6:03Speaker 4: so everybody's kind of incentivized to do that, and that's
- 6:07Speaker 4: that's kind of the model. And as more fees are produced,
- 6:11Speaker 4: the value of FAR goes up, and as FAR goes up, right,
- 6:14Speaker 4: that's going to pay out lpers more, which then makes
- 6:17Speaker 4: LPs go up and then fees go up even more.
- 6:20Speaker 4: And so that's what we call the fly will effect
- 6:22Speaker 4: of kind of what you're seeing right now. You know,
- 6:24Speaker 4: as far as has some explosive price action recently, and
- 6:27Speaker 4: it never goes one to one like that, right like,
- 6:29Speaker 4: it's never arbitrized one to one. But in general, that's
- 6:33Speaker 4: the overall thesis of why you're seeing such a demand
- 6:36Speaker 4: for FAR, such a demand for LPs on FAR and
- 6:39Speaker 4: the cycle starting up.
- 6:41Speaker 1: Well, this is one we've been talking about for a
- 6:43Speaker 1: while when you look at the ecosystem, and of course
- 6:46Speaker 1: the opportunity here I think for holders is a big
- 6:48Speaker 1: deal when you look at the not only can you
- 6:52Speaker 1: earn money this way and earn you opportunities here looking
- 6:55Speaker 1: at the meme side of it, but also looking at
- 6:58Speaker 1: the potential in terms of yield up unities. Abacus is
- 7:01Speaker 1: one Suzaku. You know there's several on here yield yak
- 7:06Speaker 1: which are the top three that are out there right
- 7:09Speaker 1: now of where earning is in terms of yield can
- 7:13Speaker 1: be maybe benefited the most in.
- 7:15Speaker 4: Terms of all of avalanche. Yeah, yeah, it's a great question,
- 7:18Speaker 4: I think. You know, I'll just say quickly that like
- 7:22Speaker 4: meme trading is fun and it brings a lot of users,
- 7:25Speaker 4: but if we don't have a layer of defile behind
- 7:26Speaker 4: it with yield, we lose a lot of those users,
- 7:29Speaker 4: and so what I can say is like Avalanche a
- 7:31Speaker 4: little bit different than Salona in that case, is that
- 7:33Speaker 4: we do have a very impactful defile layer, and so
- 7:37Speaker 4: our best earning opportunities. If you're a single side staker,
- 7:40Speaker 4: you know ben Key has the borrowing and lending taken
- 7:43Speaker 4: care of yield. Jack does a really good job at
- 7:46Speaker 4: levering those up a little bit where they loop, and
- 7:48Speaker 4: so those are audible compounding yields. But if you're looking
- 7:52Speaker 4: for other ones, VFR obviously is a very impactful yield.
- 7:55Speaker 4: I think it's like forty to sixty percent APR on
- 7:59Speaker 4: your vote right now, even at a six hundred dollars
- 8:01Speaker 4: price tag on far if you were locked today. And
- 8:04Speaker 4: then Avacus being the liquid version of that, which is
- 8:06Speaker 4: a liquid wrapper, which we can discuss if.
- 8:08Speaker 3: You want to.
- 8:09Speaker 4: But I actually think another one that has been in
- 8:13Speaker 4: the works for quite some time is really getting high
- 8:15Speaker 4: lighted right now is Arena Champions, and that is if
- 8:17Speaker 4: you hold and stake a top five hundred amount of
- 8:22Speaker 4: Arena on Arena dot Trade, or not Arena dot Trade,
- 8:25Speaker 4: but Arena dot Social their platform, you're actually given two
- 8:29Speaker 4: point five percent of every bonded token, they distribute it
- 8:32Speaker 4: to the top five hundred stakers, And so I was
- 8:35Speaker 4: actually reading today, if two tokens from Arena were to
- 8:39Speaker 4: go right now, we're to go to one hundred million,
- 8:41Speaker 4: and those air drops were to be distributed, you would get.
- 8:43Speaker 3: ROI on your Arena investment.
- 8:46Speaker 4: So it's a similar Flyawel to VFR in different ways.
- 8:50Speaker 4: There's social elements to it, but it's very much the same.
- 8:54Speaker 4: So I actually think Arena Token obviously it's getting a
- 8:57Speaker 4: lot of highlights today and this week, but I think
- 9:00Speaker 4: it'll continue because of that social element where people understand
- 9:04Speaker 4: the Arena Token, they understand Arena Champion, and now it's
- 9:08Speaker 4: like paying out massive amounts, right Like, all these bonded
- 9:11Speaker 4: tokens are starting to really get distributed to these holders,
- 9:15Speaker 4: and it's a great effect. It's a great wealth effect
- 9:18Speaker 4: for the chain. But I think it's actually a really
- 9:20Speaker 4: good yielding opportunity. It's not normal defil right, Like, it's
- 9:22Speaker 4: not something you would normally think about because there's no
- 9:24Speaker 4: APR on it, But if you look at it, you're
- 9:27Speaker 4: getting like for a top five hundred staker, you're getting
- 9:30Speaker 4: you know, one k air drops every other day and
- 9:33Speaker 4: it costs like I think ten to fifteen K to
- 9:36Speaker 4: be a top five hundred staker. I mean your oro
- 9:38Speaker 4: is coming in fast, you know, yeah, until it gets
- 9:41Speaker 4: repriced anyway. But I think those are the top three.
- 9:43Speaker 1: Really those are good ones too, and I would agree
- 9:46Speaker 1: with you. I think Arena could be the breakout sensation
- 9:49Speaker 1: right now on Avalanche. It's one that we've been watching
- 9:51Speaker 1: for a while. So again, if you guys have not
- 9:54Speaker 1: checked it out, if you're watching the show right now,
- 9:55Speaker 1: just go check.
- 9:56Speaker 2: Out Arena Social.
- 9:57Speaker 1: You'll learn a little bit more about how you can
- 9:59Speaker 1: earn within the systems, start getting involved in that, and
- 10:01Speaker 1: basically you plug your x account into it. You'll see
- 10:04Speaker 1: what I'm talking about. I want to jump over to
- 10:06Speaker 1: the gaming side of things because if you look at
- 10:08Speaker 1: next Pace this of course getting into the Maple story,
- 10:11Speaker 1: you guys are the leader right there right now in
- 10:14Speaker 1: terms of transactions, liquidity, etc. Will do you feel like
- 10:18Speaker 1: Pharaoh is going to be the gaming location as we
- 10:21Speaker 1: start to see more expansion.
- 10:23Speaker 4: Our goal is to take in every avenue right like define,
- 10:26Speaker 4: blue chips are kind of bread and butter, but we
- 10:30Speaker 4: absolutely are not going to falter on trying to amass
- 10:33Speaker 4: game tokens.
- 10:34Speaker 3: One of the ones that we're trying to do is
- 10:36Speaker 3: really get l.
- 10:37Speaker 4: One gas tokens we want to be upped for, which
- 10:40Speaker 4: a lot of times is those gaming tokens that you're seeing.
- 10:43Speaker 4: We do have another decks coming into it, I'm sure
- 10:45Speaker 4: you've talked about it, which is black Hole, and they're
- 10:48Speaker 4: a similar model to us, and I think their core
- 10:50Speaker 4: focus is gaming, so we'll be competing with them a
- 10:52Speaker 4: little bit. But as you can see with our market share,
- 10:55Speaker 4: I'm not scared of a little competition. I think it's
- 10:57Speaker 4: good for the eco and I think ultimately, you know,
- 11:00Speaker 4: even if they're a industry leader in gaming tokens for AVAX,
- 11:05Speaker 4: we'll definitely find our place. You see it with you
- 11:07Speaker 4: know the Maple story token that actually is getting incentives
- 11:11Speaker 4: starting next week, so it should actually deepen liquidity even
- 11:14Speaker 4: a little bit more Like we're we're fighting in every avenue.
- 11:17Speaker 4: I think we just want to be the everybody decks, right,
- 11:19Speaker 4: Like the incumbency of LFJ was so strong for four
- 11:23Speaker 4: years with no competitors, and now us coming in and
- 11:25Speaker 4: actually being a top competitor. It's important for us just
- 11:28Speaker 4: to be the everyman's decks and making sure that we
- 11:31Speaker 4: can facilitate anything that the community wants. So if they
- 11:35Speaker 4: want gaming tokens and we have bad connections to them,
- 11:38Speaker 4: we're going to.
- 11:38Speaker 2: Go for them. You know. There you go.
- 11:40Speaker 1: Well, I think that's the strategy too, if you, if you,
- 11:43Speaker 1: and Maple Store is a good example to kind of
- 11:45Speaker 1: lead it forward. Talk about some of the biggest catalysts
- 11:48Speaker 1: right now. You have to think about off the grid,
- 11:50Speaker 1: you know, in terms of the AVAX ecosystem. What about guns,
- 11:53Speaker 1: liquidity on Pharaoh, when would we see that.
- 11:56Speaker 4: I lean a lot on AVA labs to let me
- 11:58Speaker 4: know when they're ready to kind of facilitate some of
- 12:00Speaker 4: these liquidity payers on on Defile. Now we can bootstrap
- 12:04Speaker 4: them and do them ourselves, but they're always going to
- 12:05Speaker 4: be more impactful when they're driven from the foundation or
- 12:08Speaker 4: from able labs. Not in every case, but in the
- 12:11Speaker 4: majority of cases. And I think a lot of these
- 12:13Speaker 4: gaming tokens they go straight to a Tier one or
- 12:16Speaker 4: a Tier two exchange and then they come to DeFi
- 12:19Speaker 4: after right like they come back. And that's actually what
- 12:21Speaker 4: we saw with Maple story Token, and so GUNS is
- 12:24Speaker 4: kind of going through that that that transition, and I
- 12:28Speaker 4: think soon you know they're gonna want that because guns
- 12:31Speaker 4: token is going to be I'm assuming gas token for
- 12:33Speaker 4: the l one and give me, give me that's what
- 12:35Speaker 4: I want, right like, I love having that kind of
- 12:37Speaker 4: stuff on my platform.
- 12:39Speaker 3: And so even if able Labs doesn't let's say they.
- 12:42Speaker 4: Don't find value in doing that, which I wouldn't find
- 12:44Speaker 4: a way that they wouldn't see value in that, But
- 12:46Speaker 4: if they don't, we would still start building up liquidity,
- 12:49Speaker 4: because that's one of our ethos.
- 12:51Speaker 3: Right the l One hub.
- 12:52Speaker 1: You got to look at the other new you know,
- 12:54Speaker 1: incumbent right now, and that is FIFA, who partnered with
- 12:57Speaker 1: Avalanche here recently. And remember that Crypto dot com had
- 13:02Speaker 1: all of these FIFA well remember we've talked about this
- 13:05Speaker 1: socios before Chili's, there's been a variety of these kinds
- 13:08Speaker 1: of tokens that basically initiate all these fans of soccer
- 13:13Speaker 1: clubs around the world. And then they launched these tokens,
- 13:15Speaker 1: these fan tokens. This could really open up a lot
- 13:18Speaker 1: of opportunity if you compare against what's going on over
- 13:22Speaker 1: here on fan tokens, just on Crypto dot com, I
- 13:26Speaker 1: mean essentially, you guys would be able to maybe swipe
- 13:28Speaker 1: a lot of this activity maybe with this FIFA. What
- 13:32Speaker 1: do you think is going to happen there for you guys?
- 13:35Speaker 3: Yeah, I was.
- 13:35Speaker 4: I was actually at the summit when it released, Like
- 13:38Speaker 4: they actually did like a panel on it, and it
- 13:40Speaker 4: was you know, fireworks. Because let me just say for
- 13:43Speaker 4: a second, I'm an Avalanche vaccine. Sorry if it comes out,
- 13:46Speaker 4: and everything I say, like, I truly believe that they
- 13:48Speaker 4: are building for a future blockchain w or Web two
- 13:51Speaker 4: can actually be made on Web three, right, Like, I
- 13:54Speaker 4: think that they're building a lot of the tech for it,
- 13:55Speaker 4: and so FIFA is just another part of that journey
- 13:58Speaker 4: where they're like, listen, if you want real tech and
- 14:01Speaker 4: not vapor ware, and you're winning real purpose for you know,
- 14:04Speaker 4: RWA's and everything else that's actually coming on chain, Avalanche
- 14:08Speaker 4: is it.
- 14:08Speaker 3: And I think you know that's that's where FIFA stands.
- 14:11Speaker 3: It's it's a.
- 14:11Speaker 4: Huge statement that Avalanche is making. Maybe people in America
- 14:15Speaker 4: and even myself right right, I'm a hillbilly, right and
- 14:17Speaker 4: and I didn't know just how deep the FIFA roots went,
- 14:20Speaker 4: but it is a massive thing, Like you can't even
- 14:24Speaker 4: like American brains cannot truly understand the balance that FIFA
- 14:29Speaker 4: fans are. So I think it's huge for us in
- 14:32Speaker 4: the platform, and I think you're going to see a
- 14:33Speaker 4: ton of transaction growth because it's already live, it's already
- 14:36Speaker 4: active and a lot of it, and that platform is
- 14:38Speaker 4: actually using it. You're not even seeing like the announcement
- 14:41Speaker 4: FIFA is coming day Vas, FIFA.
- 14:42Speaker 3: Is on Avax, and I think that was a.
- 14:45Speaker 4: More impactful statement, and I think we see a lot
- 14:47Speaker 4: of growth from it now in terms of their l
- 14:49Speaker 4: one token. If they have one, what are they going
- 14:51Speaker 4: to do with it? I haven't seen anything, but you
- 14:54Speaker 4: you better bet that it'll be un Pharaoh as soon
- 14:56Speaker 4: as I can get my hands on it, and we'll
- 14:58Speaker 4: be pushing it really hard.
- 15:00Speaker 1: When do you feel like we're going to be able
- 15:01Speaker 1: to see far trades trading pairs on Trading View.
- 15:05Speaker 4: Honestly didn't know it wasn't on there, and now that
- 15:08Speaker 4: you've mentioned it to me, I'll be going pretty hard
- 15:10Speaker 4: for you.
- 15:11Speaker 2: Get to work.
- 15:11Speaker 1: I'm fair active and I'll get on it excellent. Well, Listen,
- 15:15Speaker 1: we are watching this one along with a variety of
- 15:18Speaker 1: the projects around the ecosystem when it comes to avalanche.
- 15:21Speaker 1: So good luck to what you guys are doing over there.
- 15:23Speaker 1: We appreciate you coming in.
- 15:24Speaker 4: Yeah, man, thank you so much for having me, Paul.
- 15:26Speaker 4: I've been meaning to come on here. I know we
- 15:28Speaker 4: missed it last chance, and I'm very happy that I
- 15:31Speaker 4: got to come up here.
- 15:31Speaker 3: And talk about my platform. And I really appreciate you
- 15:34Speaker 3: covering AVAX. It's great.
- 15:36Speaker 1: Yeah, absolutely, Well, thanks again Austin for coming in and
- 15:39Speaker 1: we'll be watching so as things start to come out,
- 15:42Speaker 1: make sure and hook.
- 15:43Speaker 2: Up with our producers. We'll definitely get you back.
- 15:45Speaker 3: On all right, thank you sir.
- 15:46Speaker 1: All right, guys, remember if you're not in the Diamond circle,
- 15:49Speaker 1: that's where you can get additional content from USK stuff
- 15:51Speaker 1: like this. You know, we'll really break down some of
- 15:53Speaker 1: these projects, dive in a little deeper for you, get
- 15:56Speaker 1: people on here that can kind of explain a lot
- 15:59Speaker 1: of the complexities around on some of these So make
- 16:00Speaker 1: sure and subscribe to the channel if you're not already,
- 16:03Speaker 1: and hit me out there on X which is just
- 16:05Speaker 1: at Paul Baron. We'll catch you next time right here
- 16:07Speaker 1: on Techpath.
- 16:08Speaker 2: Thank