Latest / The Paul Barron Crypto Show / Biggest XRP News EVER!!?🔥Axelar x Midas CEO INTERVIEW

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Biggest XRP News EVER!!?🔥Axelar x Midas CEO INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: All right, today we're going to be breaking it down
• 0:01
  Speaker 1: for you guys. Could be the biggest announcement ever in
• 0:05
  Speaker 1: the history of XRP. You guys are gonna love it.
• 0:07
  Speaker 1: My name is Paul Barrel, Welcome back into the show.
• 0:10
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• 0:37
  Speaker 1: fast and secure. All right, let's get into it. I
• 0:39
  Speaker 1: want to show you guys something. The thing I'm going
• 0:42
  Speaker 1: to kind of showcase here is Axelar. We've had Georgio
• 0:45
  Speaker 1: on before. We'll bring him on in a second with
• 0:48
  Speaker 1: a surprise. But Axelar, as of course, started to explode
• 0:52
  Speaker 1: in terms of TVL again, this is part of the
• 0:55
  Speaker 1: finance traffic that has started to move within it, so
• 0:58
  Speaker 1: it's definitely crossing over into the one billion club. So
• 1:02
  Speaker 1: I'm going to bring in both of our guests today,
• 1:04
  Speaker 1: and that would be Dennis who is the co founder
• 1:06
  Speaker 1: of Midas, and then of course Georgio who's been on
• 1:10
  Speaker 1: the show before. You guys know him. He is a
• 1:12
  Speaker 1: co founder there at Axelar. How are you guys very well?
• 1:15
  Speaker 2: Excellent, great, ex right to be back.
• 1:17
  Speaker 1: So let's kind of get into the announcement.
• 1:20
  Speaker 2: Yeah, let me level said a little bit.
• 1:22
  Speaker 3: Because we finally have smart contracts in the XRPL ecosystem
• 1:28
  Speaker 3: and right now we have all the ingredients to build
• 1:32
  Speaker 3: a DeFi ecosystem around the XRPL. So the three ingredients
• 1:36
  Speaker 3: I'd like to focus on. One, of course, it's Acceller.
• 1:40
  Speaker 3: With Acceller being the first interoperability platform connecting to XRPL,
• 1:44
  Speaker 3: you now have access to the XRPL EVM, but also
• 1:48
  Speaker 3: eighty other chains. Of course, the XRPLVM itself is today
• 1:53
  Speaker 3: a necessary component for DeFi in the XRPL ecosystem because
• 1:58
  Speaker 3: it's the first time we have smart on trucks in
• 2:00
  Speaker 3: the ecosystem.
• 2:01
  Speaker 2: And the third building block is Midus.
• 2:04
  Speaker 3: Midus is the biggest provider of vault infrastructure across the
• 2:09
  Speaker 3: Ethereum ecosystem, and they're going to be coming to the
• 2:12
  Speaker 3: XRPL AVM and connected to the XRPL itself through acceller.
• 2:17
  Speaker 3: So with these three ingredients, it's now time to kickstart
• 2:21
  Speaker 3: the DeFi ecosystem. The first big product loans is going
• 2:25
  Speaker 3: to be m XSRP, a product that exists in a
• 2:28
  Speaker 3: similar form in the Theoryum ecosystem and has fifty billion
• 2:31
  Speaker 3: dollars of AUM in the ecosystem. If you're familiar with
• 2:34
  Speaker 3: lidough ether FI, these are similar products over there that
• 2:38
  Speaker 3: provide yield to the holders. So as a holder of MSRP,
• 2:42
  Speaker 3: you will be able to earn yield just by holding,
• 2:45
  Speaker 3: and you will also have opportunities to deposit a XRP
• 2:49
  Speaker 3: in DeFi for additional hutility and additional yield.
• 2:51
  Speaker 1: All right, So that's big announcement. I'm looking at your
• 2:54
  Speaker 1: Twitter account. Xlre soon enable yield sources for XRP, capturing
• 2:59
  Speaker 1: USD nominated yield from both ETH and Solana. One of
• 3:03
  Speaker 1: the key things you hit on right here is an
• 3:06
  Speaker 1: infinite money glitch coming into XRP. Really kind of I
• 3:09
  Speaker 1: think escalate the opportunity of what we're going to see
• 3:12
  Speaker 1: around XARP in general. Is this going to have KYC
• 3:15
  Speaker 1: or minimums? What's the process? Maybe you can answer that Dennis.
• 3:19
  Speaker 4: Mx apiece designed to be product that anyone in DEFA
• 3:21
  Speaker 4: can use. So it's a token that adheres to the
• 3:23
  Speaker 4: highest regulatory standards but at the same time doesn't compromise
• 3:27
  Speaker 4: on composibility and transferability. So users can subscribe the product
• 3:32
  Speaker 4: if you're in an ellegible jurisdiction. So unless you're anywhere
• 3:35
  Speaker 4: in sunctioned countries the United States, the UK, or the
• 3:39
  Speaker 4: restricted regions where you are not able to access this product,
• 3:42
  Speaker 4: you will be able to find exposure to the product.
• 3:44
  Speaker 4: And then once you have the product, you can decide
• 3:47
  Speaker 4: to do many things with it. So you could, for example,
• 3:50
  Speaker 4: hold it passively in that your returns compound, or you
• 3:53
  Speaker 4: can you can engage with it in a thriving and
• 3:56
  Speaker 4: composible DEFA ecosystem that you're bidding. So these are things
• 3:58
  Speaker 4: will we discuss more more later. But the product is
• 4:02
  Speaker 4: accessible to a wide audience.
• 4:03
  Speaker 1: You guys can get a chance to look at some
• 4:05
  Speaker 1: of the yields that are being paid out there. What
• 4:08
  Speaker 1: would I expect in terms of target yields.
• 4:11
  Speaker 4: On this, of course, it's always difficult to make projections
• 4:13
  Speaker 4: going forward since we have a regulatory framework, be cautioned
• 4:18
  Speaker 4: not to make forward looking statements. Of that being said,
• 4:20
  Speaker 4: if you look at some of the yield profiles on
• 4:23
  Speaker 4: a website, or if you look at the historical performance,
• 4:26
  Speaker 4: you can get an idea. So I think it is
• 4:29
  Speaker 4: today if we've found the numbers and simulations, you're looking
• 4:32
  Speaker 4: at something of high single digit return profiles and we'll
• 4:35
  Speaker 4: see how it comes from. The product is life in
• 4:37
  Speaker 4: the market shortly.
• 4:39
  Speaker 1: High single digit? That's good. Those are good numbers. Who's
• 4:42
  Speaker 1: using these tokens right now? When it comes to the
• 4:45
  Speaker 1: overall situation that you guys are in.
• 4:47
  Speaker 4: At Midas, we have nearly a billion dollar of TV,
• 4:50
  Speaker 4: so we have quite a wide range of user groups.
• 4:53
  Speaker 4: I would say the biggest user groups are prosumers and
• 4:57
  Speaker 4: small institutional users. Well on seventy percent of our walllets
• 5:01
  Speaker 4: come from from users that hold over a million dollars,
• 5:04
  Speaker 4: so it's quite institutional catered. That being said, if you
• 5:07
  Speaker 4: look at if DeFi as a whole, so if you
• 5:10
  Speaker 4: look at the average use of RV, the average use
• 5:12
  Speaker 4: of mophone oiler. Actually it's quite similar. So they tend
• 5:15
  Speaker 4: to be few uses in terms of numbers, but high
• 5:19
  Speaker 4: value users. And this is ultimately something we've seen that
• 5:23
  Speaker 4: to be the average user group across all of the
• 5:25
  Speaker 4: def ecosystem that being set. This may actually be a
• 5:29
  Speaker 4: limitation of the theium ecosystem itself because gars, fees and
• 5:32
  Speaker 4: other considerations have generally led for this speed to be
• 5:35
  Speaker 4: only economic if you make transduction size. So while it's
• 5:39
  Speaker 4: feasible to target file user groups, it just happens to
• 5:42
  Speaker 4: be that a lot of users institutional size.
• 5:45
  Speaker 1: Well, I can imagine this is going to be pretty
• 5:47
  Speaker 1: well received within the XRP community, So the likelihood is
• 5:50
  Speaker 1: we're going to see some big activity going on.
• 5:53
  Speaker 3: Just to disclose my thus is my biggest DeFi position
• 5:58
  Speaker 3: on saying, you know, I do something and I've been
• 6:00
  Speaker 3: using their productol for a long long time. I'm also
• 6:03
  Speaker 3: an investor in the seed round and MXRP came about
• 6:08
  Speaker 3: really because and I was thinking, why don't we do
• 6:10
  Speaker 3: the same thing for XRPL.
• 6:13
  Speaker 2: It's as simple as that.
• 6:15
  Speaker 3: At the same time, there are other bold providers, but
• 6:18
  Speaker 3: if you look at who is doing things like in
• 6:21
  Speaker 3: a regulated compliant high integrity manner. In my opinion, Midas
• 6:28
  Speaker 3: is by far the most credible team to tackle this
• 6:31
  Speaker 3: problem right, extremely hyper deigrete team. Most of the team
• 6:34
  Speaker 3: I believe it's from Goldman Sachs. Dennis is one of
• 6:37
  Speaker 3: Dennis co founders who's head of product at on THEO.
• 6:41
  Speaker 3: You're familiar with on THEO. I'm sure you know ten
• 6:43
  Speaker 3: billion evaluation. There's really no other team with this caliber,
• 6:48
  Speaker 3: So this was a no brainer for us, and I
• 6:51
  Speaker 3: have high conviction on that might as the right partner,
• 6:54
  Speaker 3: both as a user but also as a go to
• 6:57
  Speaker 3: market partner.
• 6:57
  Speaker 1: Let's talk about yield vaults and integrating MXRP into those.
• 7:03
  Speaker 1: Can you share more on that, Dennis.
• 7:05
  Speaker 4: So we've partnered up with a number of top t
• 7:07
  Speaker 4: ASSEID manisters to make this happen, and as a result,
• 7:10
  Speaker 4: we'll be integrating the receipt token on many other defied
• 7:14
  Speaker 4: protocols that allow users stand and enhance the return profile
• 7:17
  Speaker 4: even further. So user can, for example, the depositanry acid,
• 7:22
  Speaker 4: receive the receipt token and then fully DeFi composed my
• 7:26
  Speaker 4: manner engaged with other protocols in order to enhance the
• 7:28
  Speaker 4: return further, provide a collateral loop against it, or even
• 7:32
  Speaker 4: stand on the on the on the asset and more
• 7:35
  Speaker 4: passive fashion.
• 7:35
  Speaker 1: That's going to be good. But we just had Hugo
• 7:37
  Speaker 1: on with Flare Networks not too long ago, and he
• 7:42
  Speaker 1: is on your tail right in terms of getting this
• 7:46
  Speaker 1: done out there, so there's some competition. How fast can
• 7:50
  Speaker 1: we see this happen Georgia.
• 7:52
  Speaker 3: The interview is going to be live by the time
• 7:54
  Speaker 3: the product will be live, so we're looking a week
• 7:57
  Speaker 3: from from now.
• 7:59
  Speaker 2: Wow.
• 8:00
  Speaker 3: With respective yields, we talked about high single digit yields
• 8:04
  Speaker 3: just for illustrative purposes. Let's talk about seven percent, right,
• 8:08
  Speaker 3: and let's assume that seven percent is the annual return
• 8:10
  Speaker 3: for holding MSRP. By leveraging these additional opportunities that den
• 8:16
  Speaker 3: Is mentioned, for example, you will be able to go
• 8:19
  Speaker 3: on a lending protocol like Morpho and get a loan
• 8:21
  Speaker 3: against your MSRP. Using the loan, you will be able
• 8:25
  Speaker 3: to deploy it again into defied strategies and increase your yield.
• 8:29
  Speaker 3: So for users that have higher risk capitite, you will
• 8:33
  Speaker 3: be able to do these looping strategies and go from
• 8:37
  Speaker 3: seven percent to like twelve percent or fourteen percent or
• 8:40
  Speaker 3: even twenty percent with more aggressive strategies. So what's really
• 8:43
  Speaker 3: nice here is that the protocol itself allows users to
• 8:48
  Speaker 3: decide on their risk profile and potentially go after significantly
• 8:53
  Speaker 3: higher returns. What's also worth noting with respect to Flair
• 8:56
  Speaker 3: is that MSRP is not limited to a single ecosystem,
• 9:00
  Speaker 3: so it's going to access yield from many different chains.
• 9:03
  Speaker 3: As an example, some of the existing minus volts.
• 9:08
  Speaker 2: They earn yield on Flare.
• 9:10
  Speaker 3: So if Flare has some good yields for XRP, the
• 9:13
  Speaker 3: asset manager will take the XRP collateral and deploy on
• 9:17
  Speaker 3: Flair and capture that yield in addition to many other
• 9:21
  Speaker 3: sources on Ethereum, on Solana and many other ecosystems. Of course,
• 9:25
  Speaker 3: this yield will mostly be in USDC, and the us
• 9:29
  Speaker 3: DIC is going to be used to buy back more
• 9:32
  Speaker 3: XRP and distribute that to the users.
• 9:34
  Speaker 2: Right.
• 9:35
  Speaker 3: So, in addition to having the highest yields on the market,
• 9:37
  Speaker 3: because will be able to aggregate sources from everywhere, not
• 9:42
  Speaker 3: just from Flare, from ETHERIYM or Solana, it also becomes
• 9:45
  Speaker 3: a perpetual buyer of XRP. Where collateral of MSRP is
• 9:49
  Speaker 3: in a way locked out of circulation and then it's
• 9:52
  Speaker 3: used to generate yield in USD and buy more and
• 9:55
  Speaker 3: more XRP over time. So this is also very healthy
• 9:58
  Speaker 3: for the price of XRP.
• 10:00
  Speaker 1: So that's again now we'll that'll feed the ecosystem. What
• 10:03
  Speaker 1: you're telling me is is this going to be available
• 10:06
  Speaker 1: immediately with being able to do loans against your x RP.
• 10:10
  Speaker 3: Maybe not day one, but yeah, the teams are actively
• 10:13
  Speaker 3: working or that.
• 10:13
  Speaker 2: And I mean Danish is the expert here.
• 10:16
  Speaker 3: He's been working on more for for the longest time,
• 10:19
  Speaker 3: and I believe Midas is one of the biggest contributors
• 10:22
  Speaker 3: of AUM for more for So I'll let that all.
• 10:25
  Speaker 4: Of our assets are integrated across s diffin More Forwards.
• 10:28
  Speaker 4: They are intricate and pandule and many other interesting defat productolts.
• 10:32
  Speaker 4: So we'll make it available and do a course and
• 10:34
  Speaker 4: working with all of the main creators in order to
• 10:37
  Speaker 4: force adoption. Of course, we are as infrastructure providers and
• 10:42
  Speaker 4: MOREPHO and different creators on more for having different I
• 10:46
  Speaker 4: would say degree of control, so we don't necessarily control
• 10:49
  Speaker 4: over More Forwards, but of course there will be interested
• 10:51
  Speaker 4: in the products and provided and performances as you anticipated
• 10:54
  Speaker 4: to be. So we're working very hard to make it
• 10:56
  Speaker 4: available as soon as possible. Expect this to be the
• 10:59
  Speaker 4: case in the coming weeks, Paul.
• 11:00
  Speaker 3: We're also you know, having discussions. Maybe I won't disclose
• 11:03
  Speaker 3: the partners, but if you look at like chains like
• 11:05
  Speaker 3: BNP binances blocks in like based the coin based blocks
• 11:08
  Speaker 3: in some of the new blocksins that are launching, because
• 11:11
  Speaker 3: acceller is connected to all of them and can distribute
• 11:13
  Speaker 3: MXSRP there, we are in active discussions to do similar integrations.
• 11:18
  Speaker 3: So it won't be just more for there are going
• 11:20
  Speaker 3: to be additional sources for utility for MSRP in many
• 11:24
  Speaker 3: other major ecosystems.
• 11:26
  Speaker 1: If you look at what you know, Layer zero has
• 11:28
  Speaker 1: been able to do single click one hundred and forty
• 11:31
  Speaker 1: chains out there, will we see something like that.
• 11:35
  Speaker 4: Yes, yes, And in principle it's exact same configuration where
• 11:38
  Speaker 4: we will be able to get one high quality collateral
• 11:42
  Speaker 4: asset world with the technology of the accident network across
• 11:48
  Speaker 4: multiple defer ecosystems.
• 11:49
  Speaker 1: One other thing, I look at the size of the
• 11:52
  Speaker 1: XRP ecosystem. Would you consider doing some kind of you know,
• 11:57
  Speaker 1: event that would help onboarding in to these pools, some
• 12:01
  Speaker 1: sort of bonus, some sort of program that would really
• 12:04
  Speaker 1: kind of initiate the army.
• 12:07
  Speaker 3: Yeah, I don't know if I can disclose specifics, but
• 12:11
  Speaker 3: actually right here, the Actual Foundation is looking to create
• 12:17
  Speaker 3: some of these programs in the early days just to
• 12:19
  Speaker 3: put the adoption.
• 12:21
  Speaker 2: Frankly, I don't know if that's necessary.
• 12:23
  Speaker 3: If you look at my Dous's growth, they had fifty
• 12:26
  Speaker 3: million in AUM in January and now they're closed to
• 12:29
  Speaker 3: a billion, right nine hundred and forty millions of the day.
• 12:32
  Speaker 3: They're definitely going to hit a billion, very very soon.
• 12:35
  Speaker 3: What's remarkable is they did this without any points or
• 12:39
  Speaker 3: incentive programs. It was all organic demand because the product
• 12:43
  Speaker 3: is good and people like making money. That said, Actual
• 12:47
  Speaker 3: Foundation is committed to help grow the XRPL and we
• 12:51
  Speaker 3: do want to accelerate adoption. So there is going to
• 12:55
  Speaker 3: be a distribution related to MSRP and will be able
• 13:00
  Speaker 3: to disclose more about that in.
• 13:02
  Speaker 4: The coming Okay, Yeah, I think we will have a
• 13:04
  Speaker 4: very excitement, a very exciting surprise coming in the future.
• 13:06
  Speaker 4: But to the point of our growth, so we be
• 13:09
  Speaker 4: adding around one hundred million dollars of assets of TVL
• 13:12
  Speaker 4: per week, So we're definitely quite a growth journey. All
• 13:15
  Speaker 4: of this without any governance in tokens incentives points of
• 13:19
  Speaker 4: their kind purely on merit of the product itself. So
• 13:22
  Speaker 4: we focus on attractive fork of yield, good risk of
• 13:25
  Speaker 4: just to return. So that's ultimately because we've been doing
• 13:29
  Speaker 4: this for quite a while, we we know what works,
• 13:31
  Speaker 4: you know what doesn't work. We we partner with top
• 13:33
  Speaker 4: tierarset managers. We have a top tier team, so we
• 13:36
  Speaker 4: have a team for formerly from Goverment sars couple group
• 13:40
  Speaker 4: onto mccancie. There is a top tier team that is
• 13:43
  Speaker 4: both on TRAT five but also in crypto. Very fan
• 13:46
  Speaker 4: but we also very lean and what we do we
• 13:48
  Speaker 4: do very few things. Those things we do we try
• 13:50
  Speaker 4: to do very well, and this is one of those
• 13:52
  Speaker 4: things that is we really excited about.
• 13:53
  Speaker 1: Yeah, I was looking at some of your partners here,
• 13:56
  Speaker 1: pretty big groups obviously black Rock and Tether. That that
• 14:00
  Speaker 1: makes me wonder you look at digital asset treasuries, would
• 14:04
  Speaker 1: they be able to hold you know, m XRP.
• 14:07
  Speaker 4: Now, yeah, absolutely, I suspect it will be a big
• 14:10
  Speaker 4: it will be a big use case. And again I go,
• 14:14
  Speaker 4: I'll go back to the to the statement we've made
• 14:16
  Speaker 4: in the beginning of the conversation. If you look at
• 14:18
  Speaker 4: the seven percent and you assume a ten billion dollar adoption,
• 14:23
  Speaker 4: this is around seven hundred million dollars of buying pressure
• 14:25
  Speaker 4: every year. So effectively, you find it's a very complementary
• 14:30
  Speaker 4: vehicle for the entire ecosystem. Ultimately, it is a perpetual
• 14:34
  Speaker 4: buyer of XRP. It's sort of a an extreme attractive proposition.
• 14:39
  Speaker 4: But also, of course, if you're a large holder of XP,
• 14:42
  Speaker 4: you you hold your treasure. You otherwise you you you
• 14:46
  Speaker 4: first have your saving instrument, You first have money, and
• 14:49
  Speaker 4: then over time you have money market instruments and savings products.
• 14:51
  Speaker 4: And this is effectively saving products catering to you. Now
• 14:55
  Speaker 4: if you feel even more adventurous, you used to use
• 14:57
  Speaker 4: this savings product in a composable manner and borrow and
• 15:01
  Speaker 4: lend against it and the transactions that we VI VIV
• 15:05
  Speaker 4: we've elaborated, and you you help bootstop the defa ecosystem
• 15:10
  Speaker 4: on the chain, and that ultimately that allows you to
• 15:13
  Speaker 4: benefit from even better suggest the returns. So it's a
• 15:15
  Speaker 4: it's a spectrum, and I certainly expect that larger treasures
• 15:19
  Speaker 4: will tap into this, I certainly expect some of the
• 15:22
  Speaker 4: prosumers of the cryptonative DEFA users that we know from
• 15:25
  Speaker 4: the other chains will be migrating and we'll be adding assets.
• 15:29
  Speaker 4: And we've seen the playbook work across different chains go
• 15:32
  Speaker 4: into different protocols. We see the exact same potential here, all.
• 15:36
  Speaker 1: Right, So I mean, I look at this because we've
• 15:38
  Speaker 1: already seen a very successful that launch within the eth ecosystem,
• 15:44
  Speaker 1: and we haven't seen any kind of yields that compare
• 15:46
  Speaker 1: to this. So immediately you're going to talk about institutional adoption,
• 15:52
  Speaker 1: probably at scale. Obviously that's going to put some pressure
• 15:55
  Speaker 1: on XRPL in general. Georgios, do you think x r
• 16:00
  Speaker 1: PL the ecosystem can handle this?
• 16:03
  Speaker 3: I mean, the technology is great, right, It's as Dennis mentioned,
• 16:06
  Speaker 3: it's way deeper than if you should be able to
• 16:10
  Speaker 3: reduce the betterer of entry. You can have smaller users
• 16:14
  Speaker 3: for a lot of the protocols that we're going to
• 16:16
  Speaker 3: be launching. And you know, historically XRPL has been running
• 16:20
  Speaker 3: for I believe twelve years. It's one of the oldest chains,
• 16:23
  Speaker 3: alterer than ethereum. I mean, I have no doubt that
• 16:26
  Speaker 3: it will be able to arise after the.
• 16:29
  Speaker 4: Talent all right now, But even more importantly, I think
• 16:32
  Speaker 4: this is actually from a vision perspective and from the
• 16:34
  Speaker 4: core if it's extremely aligned vide extra peak system. Ultimately,
• 16:38
  Speaker 4: when you think of the Internet of value to organization
• 16:41
  Speaker 4: and stable coin's been extremely central, central office, and I
• 16:43
  Speaker 4: think this is exactly the ingredient that will help the
• 16:46
  Speaker 4: ecosystem get to the next step. And we were excited
• 16:49
  Speaker 4: to partners. We feel like brothers and siblings from a
• 16:53
  Speaker 4: different universe if we work on exactly if those on
• 16:56
  Speaker 4: those things day and day out. And we've been trying
• 16:58
  Speaker 4: for a long time to find and the right partners
• 17:00
  Speaker 4: to make it happen, and it certainly feels like a
• 17:02
  Speaker 4: matchment of heaven.
• 17:03
  Speaker 3: I think we're going to see some similar dynamics to
• 17:06
  Speaker 3: what happened on Ethereum back in the day. So initially
• 17:08
  Speaker 3: Ethereum there were no yields. Now you see you see
• 17:11
  Speaker 3: extremely high yields for like even stable coins right which
• 17:14
  Speaker 3: traditionally it's very hard to get these high yields on
• 17:17
  Speaker 3: stable coins. We expect something similar to happen on XRPL.
• 17:20
  Speaker 3: So once MXRP lounches and has these high yields, and
• 17:24
  Speaker 3: there are lending protocols where you can get loans against MSRP.
• 17:30
  Speaker 3: The loans can be in all kinds of assets, and
• 17:34
  Speaker 3: the lending rates are going to rise and converge to
• 17:39
  Speaker 3: the borough rate or to the interest rate embedded into MSRP.
• 17:45
  Speaker 2: So the fact that MSRP will.
• 17:47
  Speaker 3: Have these high rates and will be widely embedded across DeFi,
• 17:52
  Speaker 3: we'll also raise yields for r l USD for depositing XRP.
• 17:56
  Speaker 3: Just van neil x orp into lending protocols for tokenized
• 18:00
  Speaker 3: our wuas.
• 18:01
  Speaker 2: Now they'll suddenly have yield, right.
• 18:03
  Speaker 3: So as we saw in ethereum, once you have an
• 18:05
  Speaker 3: asset that has high yields, this draws the yields across
• 18:10
  Speaker 3: the DeFi ecosystem for all assets much higher. Right, So
• 18:14
  Speaker 3: don't be surprised if as this grows, we start seeing
• 18:18
  Speaker 3: high heels on XRPL for r wuas that traditionally have
• 18:22
  Speaker 3: no way to access yield in the traditional world. As
• 18:25
  Speaker 3: Denny said, XRPL will be the biggest chain for r
• 18:29
  Speaker 3: WA's and you know we're here to create all these
• 18:32
  Speaker 3: opportunites and grow the ecosystem together.
• 18:35
  Speaker 1: Well, definitely it's going to grow. I'm looking at midas
• 18:37
  Speaker 1: you're setting at TVL around a three hundred and sixty
• 18:40
  Speaker 1: five and growing. Obviously you look at axel R holding
• 18:45
  Speaker 1: in the billion. So if your brothers, this is definitely
• 18:48
  Speaker 1: a good brotherly competition right there. Yes, in terms of
• 18:52
  Speaker 1: efforticuarly yeah, well.
• 18:54
  Speaker 4: F adding that we haven't added all of our assets
• 18:56
  Speaker 4: and circulation yet to defer amas were actually sitting at
• 18:58
  Speaker 4: a billion dollar right now.
• 19:00
  Speaker 1: So it's neck and neck. The race is on.
• 19:04
  Speaker 2: Protocols. Yeah, that's nice.
• 19:05
  Speaker 3: I love it.
• 19:06
  Speaker 1: Hey, listen, it's great to have you guys. I'm very
• 19:09
  Speaker 1: intrigued on how this starts to roll out. We'll definitely
• 19:13
  Speaker 1: maybe do a six month or a ninety day you know,
• 19:17
  Speaker 1: review of how this rolled out and if there's any
• 19:20
  Speaker 1: findings from this, because I think this could be big
• 19:23
  Speaker 1: in terms of what's happening within the XRP ecosystem, but
• 19:27
  Speaker 1: maybe across all of DeFi this could start to shift
• 19:30
  Speaker 1: some pretty big advancements I think when it comes to crypto.
• 19:35
  Speaker 1: But anyway, guys, thanks for coming in. We appreciate it.
• 19:38
  Speaker 4: Thank you. In a few months, if you're not.
• 19:40
  Speaker 1: Part of the Diamond Circle, make sure and jump in
• 19:42
  Speaker 1: right now.
• 19:43
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• 19:43
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• 19:50
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• 19:53
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• 20:01
  Speaker 1: are on the market. So we'll catch you next time
• 20:03
  Speaker 1: right here on The Paul Baron Show.