Latest / The Paul Barron Crypto Show / Cardano Loses Wyoming Stablecoin To Avalanche & Solana🚀

Transcript

Cardano Loses Wyoming Stablecoin To Avalanche & Solana🚀 · The Paul Barron Crypto Show

• 0:05
  Speaker 1: More all coin season topics today will be breaking down Cardono,
• 0:09
  Speaker 1: Solana and Avalanche and some key things that are happening
• 0:12
  Speaker 1: within those ecosystems. You don't want to miss. Money is
• 0:14
  Speaker 1: Paul Barron. Welcome back in the tech path. Let's start
• 0:17
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  Speaker 1: let's go over to a couple of points I want
• 0:54
  Speaker 1: to hit on. You guys will probably remember we did
• 0:56
  Speaker 1: a whole slew of videos around the Wyoming stable coin
• 1:00
  Speaker 1: when they were doing this. We actually put out a
• 1:02
  Speaker 1: statement that we did not think that Cardinal would be
• 1:05
  Speaker 1: selected for this. They were on the list, but we
• 1:08
  Speaker 1: did not think that they would be selected. Take a look.
• 1:10
  Speaker 1: I mean, this is clearly going to be an RC
• 1:13
  Speaker 1: twenty stable coin. Is my anticipation that I don't think
• 1:16
  Speaker 1: Cardono is going to be involved in that in the
• 1:18
  Speaker 1: state of Wyoming. So remember, Visa is one of the
• 1:20
  Speaker 1: fastest transactions out there. But here's the list they started testing,
• 1:23
  Speaker 1: and of course Solana was the winner. But you see
• 1:25
  Speaker 1: Avalanche in their flow, algoran Stellar Tron, and I do
• 1:28
  Speaker 1: not see Cardono on this list. So I'm just saying
• 1:31
  Speaker 1: I just don't see him on the list, all right.
• 1:32
  Speaker 1: So this was something that I got a lot of
• 1:34
  Speaker 1: hate for you guys. I mean not bad hate. It's
• 1:37
  Speaker 1: just people saying that, no, it's going to happen, and
• 1:39
  Speaker 1: you know, you shouldn't be picking on Cardona. I'm not
• 1:41
  Speaker 1: picking on anybody. This is just looking at the data,
• 1:44
  Speaker 1: looking at the results, and then trying to figure out
• 1:47
  Speaker 1: which way these guys are going, because if you really
• 1:49
  Speaker 1: try to analyze this, it does give you an insight
• 1:52
  Speaker 1: to where some of these tokens can move here was
• 1:54
  Speaker 1: a quick tweet with Cardona or excuse you with Charles.
• 1:57
  Speaker 1: They have kind of dwindled down the candidates here and
• 2:00
  Speaker 1: we've talked about some of those. Charles was not happy.
• 2:02
  Speaker 1: I'll show you a video of what he had to say.
• 2:04
  Speaker 1: Take a look.
• 2:05
  Speaker 2: But there are many people in Cardino ecosystems who are
• 2:07
  Speaker 2: asking about this, and I'm as blindsided as you were,
• 2:10
  Speaker 2: saying that we didn't have certain capabilities, although we were
• 2:13
  Speaker 2: never told that these capabilities would be necessary, so we
• 2:16
  Speaker 2: had no opportunity to prepare a proto type. I guess
• 2:19
  Speaker 2: other ecosystems are more important according to this path forward.
• 2:24
  Speaker 2: I think it's both illegal and unconstitutional. You see, it's
• 2:27
  Speaker 2: not just Cardono that was excluded. Twenty nine thousand, nine
• 2:31
  Speaker 2: hundred plus blockchains were also excluded. We ad IOG will
• 2:34
  Speaker 2: pursue options at our discretion. But it's pretty sad to
• 2:39
  Speaker 2: spend a year and a half hundreds of meetings, sub meetings,
• 2:42
  Speaker 2: and having invested hundreds of millions of dollars into infrastructure
• 2:46
  Speaker 2: in the state. I'd like to believe that those investments
• 2:49
  Speaker 2: were wise. That's pretty sad.
• 2:52
  Speaker 1: Just to be clear, I mean they were part of
• 2:55
  Speaker 1: an entire group that First of all, this was a
• 2:58
  Speaker 1: very open process that the State of Wyoming conducted. In fact,
• 3:02
  Speaker 1: it might be one of the most open ones I've
• 3:04
  Speaker 1: ever seen. This is their Notion If you don't know
• 3:07
  Speaker 1: what notion is, basically a note taking site. But you
• 3:10
  Speaker 1: can share this with the industry, and they've actually got
• 3:12
  Speaker 1: this as a public thing, and you can see public
• 3:15
  Speaker 1: notes are in their agendas, the minutes, the budget reports, recordings,
• 3:19
  Speaker 1: everything's all tied within this, so it's very easy for
• 3:22
  Speaker 1: people to do that. One thing that he mentioned there
• 3:25
  Speaker 1: was the potential of a prototype. The problem was, if
• 3:29
  Speaker 1: you guys, remember we've covered this quite extensively, is that
• 3:32
  Speaker 1: Wyoming was trying to go speed to market, so there
• 3:34
  Speaker 1: was no time for a prototype, which is why a
• 3:37
  Speaker 1: lot of this was happening. Take a look.
• 3:39
  Speaker 3: One other thing I wanted to highlight here is the
• 3:41
  Speaker 3: need for expediency. The FED has already alluded to cutting
• 3:44
  Speaker 3: rates several times cross twenty twenty four, and that would
• 3:48
  Speaker 3: have an impact on how much revepanies are able to generate.
• 3:49
  Speaker 3: So again, being expeditious with this will be beneficial.
• 3:52
  Speaker 1: That's Apollo, who is the guy that has been leading
• 3:56
  Speaker 1: the charge there in state of Wyoming. This was the
• 3:58
  Speaker 1: layout of the consensus mechanism, basically consideration, the criteria and
• 4:04
  Speaker 1: a couple of the things. There was five points of
• 4:06
  Speaker 1: public in permission, networks, permissioned, onboarding, transparent supply, on chain analytics,
• 4:11
  Speaker 1: and then the freezen Cy's capability. That was basically what
• 4:14
  Speaker 1: each of the blockchains had to be able to do,
• 4:17
  Speaker 1: and you know, to Charles's point, necessarily was not what
• 4:22
  Speaker 1: Cardona was able to do in terms of meeting that.
• 4:24
  Speaker 1: So let's go into another clip here from Apollo talking
• 4:28
  Speaker 1: about their first test. Take a look.
• 4:31
  Speaker 4: If you do not have any one feature that blockchain
• 4:34
  Speaker 4: would not be considered qualified for scoring. Alio, algorand arbitroung Avalanche,
• 4:40
  Speaker 4: base Binance, Canton Network, Cardno, Cosmo's Community, also the indiet Computer, Eosthereum, Madero,
• 4:47
  Speaker 4: Mutable Lightning, Liquid, Manaro, near Optimism, Poga Dot, Polygon, Ripple, Salon, On, Stacks,
• 4:53
  Speaker 4: Stellar Suitet, Tezos, and z Cash. Of the twenty eight
• 4:56
  Speaker 4: chains that were initially scoped, fourteen we're considered qualified scoring.
• 5:02
  Speaker 4: So then we went into the actual storing lebrit which
• 5:06
  Speaker 4: was nine very quantifiable criteria that reflect the efficiency, stability,
• 5:10
  Speaker 4: and utilization given blockchain specifically deployed to the main net
• 5:15
  Speaker 4: of the given blockchain. So this is not technology that
• 5:17
  Speaker 4: exists theoretically, things that are on test nets that are
• 5:19
  Speaker 4: not fully deployed yet we want to make sure we're
• 5:22
  Speaker 4: assessing things that are a lot. We do expect to
• 5:24
  Speaker 4: move extremely quickly with this effort, hopefully launching early next year.
• 5:28
  Speaker 1: All right, So to his point, what they were getting
• 5:31
  Speaker 1: at is they're trying to go fast, so they need
• 5:33
  Speaker 1: stuff that's working today to be able to rely on.
• 5:36
  Speaker 1: They mentioned the scoring rubric here. It is in terms
• 5:39
  Speaker 1: of the criterias, and you would get points, you know,
• 5:41
  Speaker 1: so you could get three points all down to zero
• 5:43
  Speaker 1: based on your stability, active users, total value, locked, et cetera.
• 5:47
  Speaker 1: At all these things were key elements that would go
• 5:51
  Speaker 1: into this rubric for being able to select them. So
• 5:53
  Speaker 1: I want to go to another clip. This next clip
• 5:55
  Speaker 1: is going to go into their second test. Take a look.
• 5:59
  Speaker 4: So these are fourteen chains that we determined hit those
• 6:05
  Speaker 4: five binary criteria. These will be Solanum, Sweet, Polygon, Ethereum, Arbitrum, Avalanche, Base, Stellar, Finance,
• 6:14
  Speaker 4: algorand Adera, Optimism, Tezos, and Osmo.
• 6:20
  Speaker 1: So you can kind of see, they've really went to
• 6:22
  Speaker 1: a extensive process to get these tests done and be
• 6:25
  Speaker 1: able to approve a lot of these and they were
• 6:27
  Speaker 1: breaking these down in each phase of the testing. Their
• 6:30
  Speaker 1: final test was right here. This was the third round
• 6:34
  Speaker 1: of looking at these chains. Take a look.
• 6:36
  Speaker 4: Those five are Salon, Suite, Ethereum, Avalanche in stelling the one.
• 6:43
  Speaker 4: We also recommended adding the qualified later. Two networks that
• 6:48
  Speaker 4: are on top of etherium hearing none all in favor,
• 6:51
  Speaker 4: signified by saying I are raising a thumbs up. I
• 6:54
  Speaker 4: guess a r I all second, Commissioner, Pope. I assume
• 7:00
  Speaker 4: that's an eye.
• 7:01
  Speaker 3: It is, mister chairman, thank you.
• 7:03
  Speaker 1: I am an eye.
• 7:04
  Speaker 3: Okay.
• 7:05
  Speaker 1: And what you're seeing there, and i'll show this in
• 7:07
  Speaker 1: a second is the blockchain. The blockchain rubric coming down.
• 7:11
  Speaker 1: But I want to go to this next clip because
• 7:13
  Speaker 1: this will start to break things out into maybe which
• 7:16
  Speaker 1: chains are the leaders, because there's several that are within
• 7:19
  Speaker 1: that right now. Actually, I want to show this real
• 7:22
  Speaker 1: quick and then we'll cut to the clip in a second.
• 7:24
  Speaker 1: This was the candidates. Okay, remember the breakdowns that he
• 7:26
  Speaker 1: gave you. But there was Solana Sweet polygonic course, an Avalanche,
• 7:30
  Speaker 1: A couple of things they have to look at is
• 7:32
  Speaker 1: going back to that rubric, is that the total users
• 7:36
  Speaker 1: on Avalanche were actually considered at a different time, meaning
• 7:39
  Speaker 1: they didn't really give them a full score on it.
• 7:41
  Speaker 1: So it's very possible that Avalanche could be a much
• 7:45
  Speaker 1: higher score than this. So we're going to be watching
• 7:47
  Speaker 1: this one pretty closely.
• 7:49
  Speaker 3: Now.
• 7:49
  Speaker 1: I want to go back to the clip now because
• 7:51
  Speaker 1: it's going to compare Solana and Avalanche. Take a look.
• 7:54
  Speaker 4: Solana, well, it scored very highly elsewhere. It has had
• 7:58
  Speaker 4: energies from time to time on so that perhaps stop
• 8:01
  Speaker 4: amount of score that particular criteria. Avalanche as an example,
• 8:08
  Speaker 4: you can see that it is a public informissionless network.
• 8:10
  Speaker 4: They link to its internal documents. We know that Avalanche
• 8:15
  Speaker 4: sports customizable subnets that can give us a mission onboarding
• 8:20
  Speaker 4: as well. There's a transparent spot I've linked to the
• 8:22
  Speaker 4: block explorers for the different changes. You can see in
• 8:26
  Speaker 4: real time what's happening on the chain.
• 8:28
  Speaker 1: All right, So why is this so important? You know,
• 8:31
  Speaker 1: when you think about wyoming a stable coin, Like I said,
• 8:35
  Speaker 1: this is going to be developing a roadmap for either
• 8:38
  Speaker 1: other states, banks, maybe countries starting to look at stable
• 8:42
  Speaker 1: coin usage. Remember this next cycle of legislation that's going
• 8:45
  Speaker 1: to happen in DC, we are going to get a
• 8:48
  Speaker 1: stable coin bill, and that's this I think will be
• 8:51
  Speaker 1: one of the key catalysts that we'll start to see
• 8:54
  Speaker 1: some of these chains roll out into. I want to
• 8:56
  Speaker 1: go back to the rubric real quick, because Solana is
• 8:58
  Speaker 1: leading the way here. We're thirty two suite coming in
• 9:00
  Speaker 1: at twenty six. But this score that we had was
• 9:03
  Speaker 1: done prior to their recent outage, so that's another knock
• 9:07
  Speaker 1: that might be happening right now. Then you look at,
• 9:10
  Speaker 1: of course, the RC and then you look at the
• 9:13
  Speaker 1: ethereum tokens in. One of the chains, of course, would
• 9:16
  Speaker 1: be Polygon. The potential here is because the particular bureaucrat, Apollo,
• 9:21
  Speaker 1: he has been using polygon before, So if it is
• 9:25
  Speaker 1: going to be one of these, it's most likely going
• 9:26
  Speaker 1: to be a Polygon. The other slide in is a
• 9:29
  Speaker 1: course going to be Avalanche, and Avalanche I think goes
• 9:32
  Speaker 1: back to that point that he was making in terms
• 9:34
  Speaker 1: of the total users. That's the difference that I think
• 9:37
  Speaker 1: is going to play out here. This is basically what
• 9:40
  Speaker 1: it boiled down to. One thing I want to focus
• 9:42
  Speaker 1: on is Avalanche right here, I'm on line seven. But anyway,
• 9:45
  Speaker 1: right there's the total users and they got no points
• 9:48
  Speaker 1: for that, So that alone would move them from a
• 9:50
  Speaker 1: twenty six to a twenty eight, probably the second best
• 9:55
  Speaker 1: overall in terms of potential chains for this. Now, let's
• 9:59
  Speaker 1: go over and take a look what's happening within the ecosystems.
• 10:02
  Speaker 1: So when you take a look at Avalanche's real numbers,
• 10:05
  Speaker 1: if you go into the network itself, they were off
• 10:08
  Speaker 1: by basically about three x right there at eighty four thousand.
• 10:11
  Speaker 1: You can kind of see as I'm hovering. I don't
• 10:13
  Speaker 1: know if you guys can see that right there, eighty
• 10:14
  Speaker 1: four thousand and one sixty five. And then if you
• 10:17
  Speaker 1: go further into the test nets and for now, again
• 10:20
  Speaker 1: granted a lot of these are games Pulsar, Gonzilla, off
• 10:24
  Speaker 1: the grid, et cetera. But you look at that and
• 10:26
  Speaker 1: now you're starting to see a huge difference here in
• 10:30
  Speaker 1: terms of total users. So that I think is going
• 10:34
  Speaker 1: to be considered overall in terms of the final selection process.
• 10:37
  Speaker 4: Here.
• 10:37
  Speaker 1: I want to go further into this a little bit
• 10:40
  Speaker 1: because this is getting into Solona. Now we're going to
• 10:42
  Speaker 1: shift over to Solana for a second, because there's something
• 10:44
  Speaker 1: happening here. Man. You guys probably saw this over the weekend.
• 10:48
  Speaker 1: Pumped out Fond was having some very interesting situations that
• 10:52
  Speaker 1: are occurring around tokens, a lot of these meme tokens
• 10:55
  Speaker 1: on Solana that were causing most likely a potential where
• 10:59
  Speaker 1: we might get some sort of law enforcement involved in
• 11:03
  Speaker 1: this because there were some crazy statements being made on these,
• 11:05
  Speaker 1: so that in itself could be a bad look for Solana.
• 11:09
  Speaker 1: So you have to kind of consider all the ecosystem
• 11:12
  Speaker 1: that is going on right now. This of course, right
• 11:15
  Speaker 1: now is the odds of Pumped on Fun getting banned
• 11:18
  Speaker 1: in the US because of these kinds of things. If
• 11:21
  Speaker 1: this were to happen, guys, this would be a big
• 11:24
  Speaker 1: black eye for Solona. And I think that's another factor
• 11:27
  Speaker 1: that could go into the decision process upon this. If
• 11:32
  Speaker 1: you look at Avalanche, the likelihood is a lot more
• 11:36
  Speaker 1: quality around these transactions than what we've seen with the
• 11:38
  Speaker 1: meme token transactions that are happening over on Solona. So
• 11:42
  Speaker 1: all of that being said could really play into this.
• 11:45
  Speaker 1: Now you look at where Cardona is going, because I
• 11:47
  Speaker 1: still think there might be some trades that could play
• 11:51
  Speaker 1: out within the cardono ecosystem because it is growing in
• 11:54
  Speaker 1: terms of active users. This is kind of the base
• 11:57
  Speaker 1: case of around sixty nine k in terms of transaction.
• 12:00
  Speaker 1: If you just look at what's happening over here on Artemis,
• 12:03
  Speaker 1: you can kind of see some of the tracking, and
• 12:05
  Speaker 1: then that's kind of the base case. Here's the bowl case.
• 12:08
  Speaker 1: Also looking at the same thing. This is on Cardinals
• 12:10
  Speaker 1: Scan even at the top right there at four hundred
• 12:13
  Speaker 1: and two thousand, Let me zoom in on that for
• 12:15
  Speaker 1: you guys to see that. That's the Buwl case. So
• 12:18
  Speaker 1: just to give you an understanding of where that is
• 12:21
  Speaker 1: heading and why they still are kind of looking at
• 12:24
  Speaker 1: that as a position. Further on to this, I want
• 12:27
  Speaker 1: to go into the fact that they have so much money.
• 12:30
  Speaker 1: Cardinal has so much money in their treasury at one
• 12:33
  Speaker 1: point three billion dollars, so this is a big deal.
• 12:37
  Speaker 1: Why has Cardinal not done the kind of things that
• 12:40
  Speaker 1: some of these other chains have done to be able
• 12:42
  Speaker 1: to be select in that top tier, because it looks
• 12:45
  Speaker 1: as though they could have had a chance at this.
• 12:47
  Speaker 1: So it's just an interesting point with one point three billion. Now,
• 12:51
  Speaker 1: part of that is the recent rise in Cardinal's price.
• 12:55
  Speaker 1: The other thing that could have happened here. Of course,
• 12:57
  Speaker 1: this is talking Cardono talking about Charles talking about the
• 13:00
  Speaker 1: relationship with XRP and rl USD. So that's a stable
• 13:04
  Speaker 1: coin that eventually will most likely partner up with Cardinal.
• 13:07
  Speaker 1: I think that's a big benefit for Cardinal and their
• 13:09
  Speaker 1: users down the road. But it didn't happen, has not
• 13:13
  Speaker 1: happened yet. That would have been another advantage. One of
• 13:16
  Speaker 1: the reasons that we have seen a pump though, I
• 13:17
  Speaker 1: think within Cardinal is this right here, and that was
• 13:20
  Speaker 1: Charles Oskinson's stating that they may be involved with the
• 13:23
  Speaker 1: Trump administration. That I think was one of the original
• 13:26
  Speaker 1: initial hits on it, and of course Cardinal did see
• 13:30
  Speaker 1: some price impact. Further into that, I want to go
• 13:33
  Speaker 1: to this right here, which is a clip of Charles
• 13:36
  Speaker 1: talking about the relationship with Trump.
• 13:37
  Speaker 2: Take a look, talk us through exactly what those discussions
• 13:41
  Speaker 2: look like, and who are you speaking to in particular,
• 13:43
  Speaker 2: not exactly clear how it's set up on the executive side,
• 13:46
  Speaker 2: Treasury Secretary and Trump's people, and they're far beyond my
• 13:49
  Speaker 2: pay grade. I have no idea where they're going, all.
• 13:52
  Speaker 1: Right, So basically kind of distancing from that statement of
• 13:56
  Speaker 1: them being involved with that group. But when you look
• 13:59
  Speaker 1: back at the potential here of Cardonal, what could actually
• 14:02
  Speaker 1: benefit from this. Actually, I think it's going to be
• 14:04
  Speaker 1: a couple of their side tokens. One is Snack. Snack
• 14:09
  Speaker 1: is the meme token on Cardinal, so you guys can
• 14:12
  Speaker 1: go over and see the kind of pump we've seen
• 14:14
  Speaker 1: on their all time. But if you look at the
• 14:15
  Speaker 1: seven day, it has started to really move. This may
• 14:18
  Speaker 1: be a play other things that might be a play
• 14:20
  Speaker 1: right here. There's of course Charles talking a little bit
• 14:23
  Speaker 1: about Snack is going to be involved in some of
• 14:25
  Speaker 1: their activities. The other one I'm looking at is mint swap.
• 14:28
  Speaker 1: This is their thinking of as their Unie swap for Cardinal.
• 14:32
  Speaker 1: This one may be the big player here because if
• 14:34
  Speaker 1: there is some opportunities here for some tokens to be
• 14:38
  Speaker 1: looked at here, could this be the unice swap play
• 14:42
  Speaker 1: on Cardinal itself versus actually the token ATA to be
• 14:47
  Speaker 1: able to run this all coin season. So interesting potential
• 14:50
  Speaker 1: scenarios that could play out here. Again, all this is
• 14:53
  Speaker 1: good for I think for Cardono in general, other than
• 14:56
  Speaker 1: them not being selected to the wyoming thing. So I
• 14:58
  Speaker 1: want to hit on Avalanche something that they're doing. So
• 15:01
  Speaker 1: this was a tweet just showing they had a new
• 15:02
  Speaker 1: upgrade on the Fuji test net. But the one thing
• 15:05
  Speaker 1: to take note here is this right here, This is
• 15:07
  Speaker 1: that upgrade. This is basically reducing the fees on these
• 15:11
  Speaker 1: l ones, simply meaning everybody's trying to launch a project,
• 15:14
  Speaker 1: it is ninety nine percent cheaper now to do so
• 15:17
  Speaker 1: on Avalanche. Huge, huge win for Avalanche. Again, this would
• 15:21
  Speaker 1: be potentially a wyoming stable coin opportunity going forward. Here
• 15:26
  Speaker 1: last up of course, is you got to look at
• 15:28
  Speaker 1: the potential of a flip here Avalanche holding the number
• 15:31
  Speaker 1: eleven position at seventeen bill Cardinal holding the number nine
• 15:35
  Speaker 1: position at thirty five bills, So it's very possible we
• 15:37
  Speaker 1: could see that flip incoming. All of this would have
• 15:40
  Speaker 1: to be very positive for Avalanche. I think there's some
• 15:44
  Speaker 1: place here with Cardinals. So again, a very deep dive
• 15:47
  Speaker 1: for you guys. Hopefully this has been helpful to you.
• 15:50
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