Latest / The Paul Barron Crypto Show / XRP vs SOL Outlook🔥Solana Foundation INTERVIEW

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XRP vs SOL Outlook🔥Solana Foundation INTERVIEW · The Paul Barron Crypto Show

0:00
Speaker 1: Let's dive into XRP and Solana why you should have
0:03
Speaker 1: owned both of these assets. We'll break it all down.
0:05
Speaker 1: We've got a special guest for you guys today. You
0:07
Speaker 1: don't want to miss it. Let's just jump right in.
0:09
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Speaker 1: bucks in funding reward. All right, So we're going to
0:41
Speaker 1: get into it today. We brought on Vboo. I'll bring
0:45
Speaker 1: him on here in a second. But before we get started,
0:48
Speaker 1: of course, you guys probably saw there was quite a
0:51
Speaker 1: bit of activity out there on Twitter. Really it was
0:55
Speaker 1: talking about Solana versus. We kind of looked at it
0:59
Speaker 1: in a different light, and that is from a Salana
1:03
Speaker 1: and XRP standpoint as both. But many of the things
1:08
Speaker 1: that I think the Salon community we're talking about was
1:11
Speaker 1: addressing some of the challenges that Ripple and XRP had represented.
1:17
Speaker 1: The interesting point is we got a lot of that
1:19
Speaker 1: answered at the Swell event this year. Let me play
1:22
Speaker 1: a clip for you guys, then we'll bring in Vivu.
1:24
Speaker 2: Ripple has been building these solutions on the foundation of
1:27
Speaker 2: the XRP ledger. It stood the test of time for
1:30
Speaker 2: well over ten years, and with Palisades wallet infrastructure, all
1:35
Speaker 2: of these things together are giving us a full end
1:38
Speaker 2: payment suite for our customers.
1:40
Speaker 3: They see hundreds of billions of dollars of deposits that
1:43
Speaker 3: are perhaps more useful if in a token I SED
1:46
Speaker 3: form like oh, let's say RUSD. I do think we'll
1:49
Speaker 3: probably slow down the acquisition.
1:50
Speaker 4: Binge, but that still leaves you with two months. So
1:53
Speaker 4: I guess, do you have any ambitions to own a
1:55
Speaker 4: crypto exchange?
1:56
Speaker 3: We are very happy investors in a number of different
1:59
Speaker 3: crypto exchanges, bitstamp and bitso and p d x others.
2:03
Speaker 3: You know, we don't compete with coinbase, but a little
2:05
Speaker 3: bit here. Although we are a competitive circle. I root
2:08
Speaker 3: for our o USD a little bit more. But at
2:11
Speaker 3: the end of the day, we want to do things
2:12
Speaker 3: that are good for the XRP ecosystem, trust an XRP
2:16
Speaker 3: utility and XRP, and we want to build liquidity and XRP.
2:19
Speaker 3: Each of the acquisitions we do, you know, in one
2:22
Speaker 3: way or another, we believe it will do those things.
2:24
Speaker 3: Some people may look at it and like, h I
2:26
Speaker 3: don't really know, scratch their head a little bit. Well,
2:28
Speaker 3: I promise you that we see in the three dimensional
2:30
Speaker 3: game of chess. We see how we believe that's going
2:33
Speaker 3: to evolve. You know, sometimes we'll probably do things that
2:35
Speaker 3: are more obvious and some less obvious.
2:37
Speaker 4: That's okay with us.
2:38
Speaker 3: Now on XRP specifically, look do I do I think
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Speaker 3: that we have room to grow.
2:43
Speaker 4: Absolutely.
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Speaker 3: I think as we get more regulatory clarity.
2:46
Speaker 4: You're going to see more institutions, more capital, more entrepreneurs.
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Speaker 3: We don't advocate that it's the right you know, one
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Speaker 3: size fits all, that you should do everything on the
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Speaker 3: XRP blockchain. There's other blockchains are going to be better
2:56
Speaker 3: at different use cases and that's great, but we think
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Speaker 3: that will continue to cheat campion xrpuse cases we think
3:01
Speaker 3: are uniquely good.
3:03
Speaker 4: On that watching, I guess it's not surprising then that
3:05
Speaker 4: the banking industry is not exactly thrilled about this.
3:08
Speaker 3: The bank doesn't want competition because they've done a shitty
3:10
Speaker 3: job of serving their customers.
3:17
Speaker 1: V Bu, who comes in from the Salona Foundation, put
3:20
Speaker 1: out this tweet Everything in the community is conjecture, conspiracy, hope, etc.
3:25
Speaker 1: The point was is, I think a lot of what
3:28
Speaker 1: had been kind of still not necessarily said, was said
3:32
Speaker 1: by the CEO of Ripple and is addressing many of
3:35
Speaker 1: those challenges that I think a lot of the community
3:37
Speaker 1: had maybe questioned and we're not sure of. And of
3:41
Speaker 1: course well kind of cleared up a lot of that.
3:43
Speaker 1: So I wanted to bring in v Bu from the
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Speaker 1: Salana Foundation to kind of just chat a little bit
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Speaker 1: about not only that, but also what's going on within
3:52
Speaker 1: Solana itself. Welcome to the show.
3:54
Speaker 4: Thanks for having me. Man. It is weird to see
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Speaker 4: the tweets show up on a screen and have someone
3:58
Speaker 4: read them. It's like a out of body experience.
4:02
Speaker 1: Well now you know it's it happens all the time.
4:06
Speaker 4: Uh.
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Speaker 1: And of course we we had a chance to kind
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Speaker 1: of follow the industry pretty closely. So we obviously see
4:12
Speaker 1: kind of the benefits of both these chains out there,
4:14
Speaker 1: whether it's x ORP on what the ripple community is doing.
4:17
Speaker 1: Obviously we're big fans of Solana as well. And one
4:22
Speaker 1: of the.
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Speaker 4: Reasons I talked for four years ago.
4:26
Speaker 1: Actually here's here's the video right there. Three years ago
4:29
Speaker 1: we were talking about the time of Solana Physical NFT
4:33
Speaker 1: merch store. I think it was opening here in South Florida.
4:37
Speaker 4: Times here we survived.
4:40
Speaker 1: We have survived, So that's a good that's a good thing.
4:43
Speaker 1: First of all, when we talk about where the market
4:46
Speaker 1: is going. If you look at just where the the
4:49
Speaker 1: potential is of top ten, because there's a lot of
4:50
Speaker 1: shifting around right now in the top ten, Solana holding
4:54
Speaker 1: the number six position could be in a position to
4:57
Speaker 1: seize that number four slow if if it leaps over
5:01
Speaker 1: BNBN XRP. What do you think do you think Solana
5:04
Speaker 1: will flip XRP at some point?
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Speaker 4: I like, I feel like if I answer that question,
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Speaker 4: I'm going to get like a whole bunch of emails
5:11
Speaker 4: from the Salon Foundation legal team. My general comment and
5:15
Speaker 4: price in market CAAP is that there's no industry like
5:18
Speaker 4: crypto where reality and usage, price and market caap are
5:23
Speaker 4: so far uncorrelated. Even if we spoke about the performance
5:28
Speaker 4: of the chain and the products themselves, which is what
5:30
Speaker 4: I'm focused on, that doesn't you know, I don't think
5:35
Speaker 4: in the short term that ever translates to what happens
5:37
Speaker 4: with the price. I do think that at some point
5:41
Speaker 4: we're going to exit this like historical everything market everything
5:45
Speaker 4: up market that we've been in for a while, and
5:48
Speaker 4: people are going to care about value and what these
5:50
Speaker 4: assets are fundamentally producing. You know. When that happens, I'm
5:53
Speaker 4: not really sure, but I think we're focused on building
5:56
Speaker 4: real things that people use well.
5:57
Speaker 1: I would I would say that there probably was a
6:00
Speaker 1: time in history where correlation to value was also very
6:06
Speaker 1: opposite of each other. It was really if you think
6:08
Speaker 1: about it, it was the early dot com era. You know,
6:11
Speaker 1: if you think about mid nineties going into the dot bomb,
6:14
Speaker 1: there was a lot of valuation there that was much different.
6:17
Speaker 1: I know a lot of people kind of reference this
6:19
Speaker 1: time in history to that. I would argue that that's
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Speaker 1: not the case because many of these companies that exist
6:26
Speaker 1: today are actually profit generators versus many of the companies
6:30
Speaker 1: that existed back then were literally blue Sky companies going
6:35
Speaker 1: into the dot bomb. So maybe it will play out differently.
6:38
Speaker 1: We'll see how it goes from XRP of course won
6:42
Speaker 1: their case, and then immediately turning around, we had tariffs
6:45
Speaker 1: that came in and hit this token again, even though
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Speaker 1: it did come up. You know, in general, I'm just
6:52
Speaker 1: kind of I'm kind of curious when you look at
6:53
Speaker 1: the suppression of many of these projects, including Solana, because
6:57
Speaker 1: I would say Clarity Act would be suppressing Salon. Once
7:00
Speaker 1: we see Clarity go through and other regulatory frameworks, do
7:04
Speaker 1: you think a handful of these tokens, including what's happening
7:07
Speaker 1: in the Slana ecosystem, will explode.
7:10
Speaker 4: I don't really agree with the idea that there was suppression.
7:13
Speaker 4: Blockchains at their core are decentralized pieces of instructure there
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Speaker 4: are effectively immune to regulatory pressures. I think what happened
7:22
Speaker 4: this year was more so that the traditional financial players
7:27
Speaker 4: started to feel comfortable engaging with the industry in a
7:31
Speaker 4: meaningful way. But like Solona has been building for five years,
7:35
Speaker 4: long before any of the any of this twenty twenty
7:38
Speaker 4: five kind of happened, and obviously bitcoin has been around forever.
7:42
Speaker 4: I mean there's like if there's been running for over
7:44
Speaker 4: ten years. I don't really subscribe to that view.
7:48
Speaker 1: I suppose well in the sense of when I say suppression,
7:50
Speaker 1: maybe not necessarily in price, but the opportunity for these
7:54
Speaker 1: markets to see their true value to what market value
8:00
Speaker 1: could Because if you listen to Larry Fink and almost
8:02
Speaker 1: every asset manager out or they think, you know that
8:05
Speaker 1: tokenization is the next evolution of the Internet except for
8:09
Speaker 1: financial products. So so there's a lot if you think
8:12
Speaker 1: about it, we're not there yet. We don't have hardly
8:14
Speaker 1: any of that really taking place from where the market
8:18
Speaker 1: could be.
8:19
Speaker 4: No, I agree, I agree with that, like on tokenization,
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Speaker 4: it's quite early. I think that a lot of times
8:24
Speaker 4: that's used it as an excuse to say that like
8:26
Speaker 4: most of the industry has yet to come on board.
8:29
Speaker 4: And the fact is that this year the gates broke
8:32
Speaker 4: and there's been this stampede of interest in crypto from
8:36
Speaker 4: all walks of life, institutional on retail. But getting to
8:41
Speaker 4: this moment has required building like fast performance chains that
8:46
Speaker 4: are you know that's introduced that have programmable elements to them,
8:51
Speaker 4: and it's it happens through momentum and over a long
8:55
Speaker 4: period of time, and I think, uh, there's already been
8:58
Speaker 4: a lot of that in advance this year that allowed
9:01
Speaker 4: us to get to this point. I don't think you
9:03
Speaker 4: can excuse the lack of traction certain chains today because
9:07
Speaker 4: the industry is going to be much bigger, if anything
9:11
Speaker 4: like now is the time I think when these base
9:15
Speaker 4: layers are really standing out and differentiing themselves and picking
9:17
Speaker 4: up a lot of speed. I just don't see the
9:19
Speaker 4: scales of this stuff really changing meaningfully from where it
9:24
Speaker 4: is in like a decade or so. I think we're
9:26
Speaker 4: seeing the like the ground flow right now.
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Speaker 1: Okay, So to your point, you know, I want to
9:33
Speaker 1: hit on one thing, and that is the institutional side
9:35
Speaker 1: of things, because even you mentioned that there has been
9:39
Speaker 1: intrepidation by institutions. Really until now, has this been the
9:44
Speaker 1: river first time that we've seen true interest from institutional
9:49
Speaker 1: at least at scale, when you've got black Rock, Citadel
9:51
Speaker 1: and everybody else out there starting to move in on this.
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Speaker 1: So I would say that in some cases there has
9:56
Speaker 1: been some suppression just because of that, along with regulatory framework,
10:02
Speaker 1: which is now clear at least on Clarity Act, not yet,
10:06
Speaker 1: but at least on the Genius Act, so that in
10:09
Speaker 1: itself is still very early stage. So yes, I would
10:14
Speaker 1: agree with you. There's a lot of different technologies, including
10:17
Speaker 1: what's going on with Solana, but within others, including XRP
10:21
Speaker 1: and probably some others. Chain Link would be another one
10:23
Speaker 1: that will probably see some pretty big adoption curves taking
10:28
Speaker 1: place very soon. When you look at the amount of
10:32
Speaker 1: liquidity that's in the market right now. This was a
10:35
Speaker 1: tweet by winter Mute and they hit on something that
10:37
Speaker 1: was kind of interesting here. Liquidity drives cryptocycles. Now the
10:41
Speaker 1: money has stopped flowing in, so they're basically saying no
10:44
Speaker 1: new money is coming in. It's basically a slush people
10:47
Speaker 1: slashing around doing trades here and there. I mean, Solana
10:51
Speaker 1: has been a big part of that, just because of
10:54
Speaker 1: the meanpoint coin activity, what we saw in the Solana
10:57
Speaker 1: ecosystem over this twelve months. What do you make of that?
11:01
Speaker 1: Do you think we're going to see a final breaking
11:04
Speaker 1: of the dam in terms of new liquidity coming in
11:07
Speaker 1: to the market.
11:08
Speaker 4: You know, I'll just comment at least on in the
11:11
Speaker 4: last week, you know, the Slama ets were finally approved.
11:14
Speaker 4: That was something that's been kind of on the doctor
11:15
Speaker 4: for a long time. We saw about half a billion
11:17
Speaker 4: dollars of inflows. We've had six or seven straight days
11:21
Speaker 4: of net inflows that were positive for Salona ETFs. There
11:24
Speaker 4: is a big disconnect, I think, between the retail side
11:28
Speaker 4: of the like the on chain universe, and what's happening
11:30
Speaker 4: on the institutional side with the assets themselves. In my opinion,
11:35
Speaker 4: like the on chain side has basically been in a
11:37
Speaker 4: bear market for money for probably since since February. I
11:44
Speaker 4: think that's like the on chain side is very driven
11:48
Speaker 4: by by metas. So Slana peaked around forty eight or
11:53
Speaker 4: forty nine percent of it of its dex volume was
11:57
Speaker 4: mean coins in January. Today it's sitting around seventeen percent.
12:01
Speaker 4: But what happened with like the Trump mean coin launch
12:03
Speaker 4: for example, at least on Solana had a rippling effect
12:06
Speaker 4: on the entire industry, Like it brought in more users
12:08
Speaker 4: and more people into crypto than almost anything else. And
12:12
Speaker 4: that's and there's a lot of like metrics that you
12:14
Speaker 4: can go look at to kind of see see that effect.
12:17
Speaker 4: And I think since then there hasn't been like, you know,
12:20
Speaker 4: something quite as like monumental on the on chain side,
12:23
Speaker 4: other than mad Purpose, which have been like you know,
12:26
Speaker 4: a huge, huge, you know, emergent market this year and
12:30
Speaker 4: one where Solona is is you know, quite behind in
12:34
Speaker 4: my opinion, Why doesn't it matter? The reason the reason
12:37
Speaker 4: it doesn't it doesn't matter is that most people don't
12:40
Speaker 4: look at this stuff. Like when they're making decisions about
12:42
Speaker 4: investing in XRP or Solona or any of these tokens,
12:45
Speaker 4: they're doing that without actually understanding the fundamentals of the
12:50
Speaker 4: things they're investing. And they're not using DeFi they're not interacting,
12:53
Speaker 4: they're not trading on chain, they're trading on their changes.
12:56
Speaker 4: So again, I you know, to the point of like
12:59
Speaker 4: this disconnect between usage and price, like they just they
13:05
Speaker 4: continue to kind of exist in these two separate realms.
13:08
Speaker 4: We'll see, we'll see when that returns to earth.
13:10
Speaker 1: But yeah, well, and I think the point that you
13:13
Speaker 1: have to consider now is the amount of institution institutional
13:18
Speaker 1: support that we're seeing on the XRP side of things.
13:21
Speaker 1: This announcement of you know, half a billion dollars going in,
13:24
Speaker 1: that's just crazy in terms of institutional support. So that
13:28
Speaker 1: in itself is going to end up spurring on institutional
13:33
Speaker 1: interest at least in that ecosystem.
13:35
Speaker 4: You're talking about Ripple or XRPY.
13:37
Speaker 1: Ripple and XRP as a whole, because Brad in the
13:40
Speaker 1: first video we put out there had clearly made a
13:44
Speaker 1: point of saying, hey, XRP is part of this ecosystem,
13:47
Speaker 1: It's going to be part of how we basically institutionalize
13:51
Speaker 1: all of our assets. And obviously rl USD was what
13:53
Speaker 1: he was talking about XRP. And then now we see
13:57
Speaker 1: this major support from you know, trad file.
14:00
Speaker 4: Yeah, but in what specific way is Excorp part of
14:03
Speaker 4: ripples planet other than him saying that, like, how is
14:06
Speaker 4: ex rep being used specifically?
14:08
Speaker 1: The key here is going to be getting into what
14:10
Speaker 1: they're doing within the treasury mechanisms, and that in itself
14:13
Speaker 1: is probably going to be one of the catalysts. I
14:16
Speaker 1: think that will only give it more support. Now, does
14:19
Speaker 1: it get the kind of support from a stance of
14:22
Speaker 1: investors that are going to be coming in, whether they're
14:25
Speaker 1: new or they're mostly XRP family type people that are
14:28
Speaker 1: out there investing in XARP as a whole. I think
14:31
Speaker 1: the bigger picture here is the fact that we're seeing institution.
14:34
Speaker 1: I think it was even Matt Hogan was talking about
14:36
Speaker 1: this today is he said, hey, you know, right now
14:39
Speaker 1: retail is at a point of inflection either getting out
14:45
Speaker 1: or just waiting for what is going to happen, which
14:48
Speaker 1: is more of a slow, steady slog from institution, which
14:52
Speaker 1: starts to look at a lot of those kinds of
14:54
Speaker 1: projects such as XARP Ripple as a whole. So I
14:58
Speaker 1: think that's.
15:00
Speaker 4: I'll say that the non experts, I mean, I would
15:04
Speaker 4: say that like this year has been the year of
15:06
Speaker 4: stable coins. When you think about institutions, it's been that's
15:10
Speaker 4: the storyline that they want to participate in. And my
15:13
Speaker 4: takeaway from watching the Ripple news was that Ripple is
15:17
Speaker 4: pivoting to stable coins. And that makes a lot of
15:19
Speaker 4: sense because Ripple services like Ripple is a real business
15:22
Speaker 4: that services institutions. But I think that the original vision
15:26
Speaker 4: for XRP, which was to be this kind of bridge currency,
15:29
Speaker 4: has basically been invalidated by stable coins. Like we are,
15:32
Speaker 4: we have like much better ways now of transferring value
15:36
Speaker 4: that don't require going through like these volatile cryptocurrencies, and
15:39
Speaker 4: certainly like you know Solana for example, we have almost
15:42
Speaker 4: fifteen billion dollars of stable coins on on chain from
15:45
Speaker 4: a number of different providers. It's not a there's no
15:48
Speaker 4: enshrined stable coin like there is in the on the XRPL,
15:52
Speaker 4: which just had a billion dollars. Like unfortunately, even here
15:55
Speaker 4: Ripple is playing catch up because the industry, like we've
15:58
Speaker 4: been aligning around stable coins for a long time and
16:01
Speaker 4: and you know, it's good to see them kind of
16:03
Speaker 4: come onto the like the winning side in terms of
16:05
Speaker 4: like what's happening with actual settlements. But to say that
16:09
Speaker 4: benefits Excorp, I think is a huge, huge stretch and
16:11
Speaker 4: like it's it's basically fiction at this point.
16:13
Speaker 1: Well I would disagree with that, but that's just you know,
16:16
Speaker 1: our position.
16:17
Speaker 4: I think, Well, tell me about tell me what.
16:22
Speaker 1: I'm not here necessarily to debate, just that My point
16:25
Speaker 1: is is pointing out the facts of what Ripple stated
16:28
Speaker 1: as well, which I think we're pretty clear. And then
16:30
Speaker 1: of course aril USD that is a stable point.
16:32
Speaker 4: But they've been stating this about XORP for thirteen years, right,
16:35
Speaker 4: like and when I look at the XRPL, like the
16:39
Speaker 4: actual usage, the actual usage is laughable, Like they have
16:42
Speaker 4: something like I think yesterday there's seventeen thousand people interacted
16:45
Speaker 4: on Ripple Cornate extorpiece. Can you can go look at
16:47
Speaker 4: the state of yourself on Somana, there's two point seven
16:49
Speaker 4: million active wallets on the chain. Like we're talking about
16:53
Speaker 4: like orders of magnitude differences in terms of like what's
16:56
Speaker 4: actually happening on on chain. I think like the idea
17:00
Speaker 4: that like institutions are going to come and buy you know,
17:04
Speaker 4: x RP and size to act as an intermediary currency
17:07
Speaker 4: of any sorte like that. Again, that entire thesis has
17:10
Speaker 4: been invalidated and Ripple is proving with every announcement they've
17:13
Speaker 4: made that they're pivoting completely completely to stable coins, which
17:16
Speaker 4: makes complete sense to me, like that that is what
17:18
Speaker 4: that is deep pivots to make today.
17:20
Speaker 1: Yeah, the key here is it's it's really built around
17:23
Speaker 1: more on the stable coin that Ripple has, which is
17:26
Speaker 1: r O R s D, and that of course is
17:28
Speaker 1: where the institutional model will work. That correlates for what
17:32
Speaker 1: the use cases count XRP.
17:34
Speaker 4: So yeah, why does it correlate to the use space
17:36
Speaker 4: for x r P though in that.
17:38
Speaker 1: Well, it's part of the infrastructure with r l U
17:41
Speaker 1: s D and x RP. That is, it's a tandem
17:44
Speaker 1: you know, in that mode.
17:46
Speaker 4: Sense though because most of the rust lives on ethereum.
17:49
Speaker 1: Right, that is correct. So in what way it is
17:51
Speaker 1: that they're not going to use r l u s D.
17:54
Speaker 1: Is that your point that they're not?
17:56
Speaker 4: No? My point is that No. My point is that
17:59
Speaker 4: that ripple. I give them credit. They're very they're led
18:04
Speaker 4: by extremely smart people. They manage their balance the exceptionally well,
18:07
Speaker 4: and they've been able to, you know, build some real
18:10
Speaker 4: businesses here. But it's very clear that that they are
18:13
Speaker 4: aligning themselves around stable coins, and I think the XRP
18:16
Speaker 4: community needs to understand and wake up to what's actually happening,
18:20
Speaker 4: which is basically stable coins like that is like that,
18:26
Speaker 4: that's the that's the big play that they're making. Again,
18:28
Speaker 4: all respect to them, because that's the right move, but
18:32
Speaker 4: they are far behind on stable coins. I mean they
18:34
Speaker 4: are like well, XRPL, which has well, I don't know
18:37
Speaker 4: that around one hundred million dollars.
18:39
Speaker 1: Yeah, it's it's a billion dollars in terms of where
18:42
Speaker 1: r l USD is.
18:43
Speaker 4: Right, ninety percent of which is not on.
18:45
Speaker 1: XRPL ten ten months in. But at some point, what
18:50
Speaker 1: they're doing in terms of building a financial stack is
18:52
Speaker 1: they're trying to get into a position where essentially the
18:55
Speaker 1: Ledger is going to be the cornerstone of this. Obviously
18:58
Speaker 1: that's tied to r l USD. So I think the
19:00
Speaker 1: connection is here and it's very short. Okay, Well, according
19:05
Speaker 1: to what garling House is telling us, we can only
19:07
Speaker 1: go off of what the CEO of Ripple is saying
19:11
Speaker 1: is that this is the plan. So if they execute,
19:14
Speaker 1: then this model would be in essence the model that
19:17
Speaker 1: they've been trying to build. Now, granted, you throw the
19:20
Speaker 1: lawsuit out of the situation, you throw what's happened with
19:23
Speaker 1: the administration, which has been anti crypto for quite some time.
19:28
Speaker 1: To me, this is a brand new frontier for all tokens,
19:31
Speaker 1: whether it is Ripple, whether it is Solana, you know,
19:35
Speaker 1: almost anything that's got any kind of modicum of use
19:39
Speaker 1: case there's an opportunity here.
19:40
Speaker 4: I mean, I think that is probably not true. And
19:43
Speaker 4: the reason why is that crypt like digital assets are
19:46
Speaker 4: now already like a three or four trillion dollar industry.
19:50
Speaker 4: This is in like ten years ago, increasingly mature industry
19:53
Speaker 4: with a lot of you know, a lot of technological progress.
19:56
Speaker 4: What is true is that Ripple is emerging and saying
20:01
Speaker 4: stable coins matter, and that is really really awesome to
20:04
Speaker 4: see and I think that, like I hope that the
20:06
Speaker 4: people that are holding extra pe understand and are given
20:10
Speaker 4: access to what Ripple actually plans to do, which seems
20:14
Speaker 4: to me to basically build a stable coin settlement business.
20:18
Speaker 4: And yeah, that's awesome, but like, unfortunately, of all three
20:22
Speaker 4: hundred billion stable coins that have been minted across all chains,
20:25
Speaker 4: our l USD is one three hundredth of that. They
20:29
Speaker 4: are absolutely playing ketchup like that is, there's no doubt
20:31
Speaker 4: about that. It doesn't mean they can't win, but they
20:34
Speaker 4: are really coming from behind here.
20:36
Speaker 1: Yeah, I think when you yeah, when you layer in
20:39
Speaker 1: the institutional component, that does change the game quite a bit.
20:44
Speaker 1: Because of the amount of institutional capital, it could go
20:47
Speaker 1: in this direction very quickly. So yeah, you know, just
20:50
Speaker 1: in this in the.
20:50
Speaker 4: Est capital is on all chains, right, Paul, Like you've
20:53
Speaker 4: you've probably I know you track all chains, so you've
20:55
Speaker 4: probably seen like like for example, like talking about you
20:58
Speaker 4: talk about Blackrock, black Rock has you know, two hundred
21:00
Speaker 4: and fifty million dollars on of assets on Salom. They
21:03
Speaker 4: have five hundred million dollars of assets on you know,
21:06
Speaker 4: ap Toss and some of these other fast chains Like yeah,
21:09
Speaker 4: like these institutions are putting their assets across many different chains.
21:13
Speaker 4: They're looking for liquid, looking for new holders, sure, looking
21:16
Speaker 4: for the yield, you're looking for revenue on these things
21:18
Speaker 4: that they're going to pick the chains that that can
21:21
Speaker 4: help them do that. In my opinion, they're going to
21:22
Speaker 4: be on pretty much every chain like that. There's there's
21:24
Speaker 4: no doubt about it.
21:25
Speaker 1: Well, I think it's still this is the I think
21:27
Speaker 1: it's early enough in the game with where stable coins are.
21:32
Speaker 1: Obviously we saw Kathy would talk about this even today,
21:35
Speaker 1: is that stable coins are really the new play. Key
21:38
Speaker 1: here is going to be the companies that are far
21:40
Speaker 1: enough along, whether it's partnerships, integration into trad fi, which
21:45
Speaker 1: I think obviously what Ripple is trying to do, as
21:48
Speaker 1: well as are the other chains out there that are
21:49
Speaker 1: trying to go in this direction. So it's not it's
21:52
Speaker 1: not unique to them in general. I want to flip
21:55
Speaker 1: over to a few other areas. One of course, UXRP.
22:00
Speaker 1: This is one UH to kind of compare against. This
22:04
Speaker 1: was launched on Cantana and Base before Solana. What was
22:09
Speaker 1: what was the reason that you think that occurred.
22:11
Speaker 4: I'm not familiar with the story. I know about the assets,
22:14
Speaker 4: but yeah, I'm not sure. Like, let me say this
22:18
Speaker 4: like a little bit of like uh inside baseball, only
22:21
Speaker 4: this is well known by the general public. Like when
22:24
Speaker 4: you see small blockchains rolling out r w a's and
22:27
Speaker 4: stable coins, vast majority of time these are directly incentivized
22:32
Speaker 4: by those foundations. So they pay basically BIPs on every mints,
22:36
Speaker 4: every transfer, and every hold, and that comes directly out
22:39
Speaker 4: of the foundation's balance sheet. You know. Basically they are
22:41
Speaker 4: paying to create these narratives and these you know stories
22:44
Speaker 4: that that echo through YouTube channels like yours where they
22:50
Speaker 4: have something to kind of announce. But ultimately, like these
22:53
Speaker 4: assets sit on these chains, they aren't productive at all.
22:56
Speaker 4: And once those exclusivity boundaries left up, they take those
23:01
Speaker 4: assets and they put them onch of the chains where
23:02
Speaker 4: there's actually yield, there's actual usage. There's no single announcement
23:06
Speaker 4: that ever really impressed me, because I know the inside
23:08
Speaker 4: baseball here is that people are paying for yeah, for
23:10
Speaker 4: usage that we're paying to like basically inflate their metrics.
23:13
Speaker 4: And this is a game that's mature change like Slant
23:16
Speaker 4: foundation really don't participate in.
23:18
Speaker 1: To be honest, this has been in crypto for quite
23:21
Speaker 1: a while these kind of deals are being made. We
23:23
Speaker 1: know that you know, all of this is occurring.
23:26
Speaker 4: Yeah, the term is that hundreds of these chains will
23:29
Speaker 4: go out of business in the next five years, give
23:31
Speaker 4: it a couple of years, and like reality is going
23:33
Speaker 4: to be pretty tough for these small chains here.
23:35
Speaker 1: Which I would I kind of agree with that in
23:37
Speaker 1: the sense that I think a lot of this liquidity
23:41
Speaker 1: and a lot of this capital is going to roll
23:42
Speaker 1: up and it kind of like what it did in
23:45
Speaker 1: the bomb era, what we saw in the early stages
23:47
Speaker 1: of social a lot of those early stage VC companies
23:50
Speaker 1: that were basically blue sky companies, they were doing the
23:53
Speaker 1: exact same thing, you know, paying for partnerships, trying to
23:57
Speaker 1: get under percentage, trying to get on the front of
23:59
Speaker 1: the narrative, making that basically a VC play into the
24:03
Speaker 1: capital hoping that they might win something and actually develop
24:07
Speaker 1: a piece of product, which to your point, I think
24:10
Speaker 1: this is going to end up rolling up into the
24:12
Speaker 1: top tier assets, which may be the play that the
24:17
Speaker 1: institutions are going after right now, which is really top ten.
24:21
Speaker 1: Solana of course would be part of that, a handful
24:24
Speaker 1: of others, maybe even a new entry. If you think
24:26
Speaker 1: about what could happen if polymarket comes to market with
24:29
Speaker 1: a token. One thing though that's interesting to me is
24:32
Speaker 1: when you look at the scale in which companies are building.
24:35
Speaker 1: You look at Coinbase building one, Robinhood, Kraken, et cetera,
24:41
Speaker 1: all of which have selected Ethereum, not Solana. What would
24:46
Speaker 1: be your argument as to when major companies like that
24:51
Speaker 1: would be building within the Solana ecosystem to do what
24:54
Speaker 1: they're trying to do individually.
24:57
Speaker 4: I mean, I would say, first of all, like all
24:59
Speaker 4: of those guys are all so building things on Solana
25:02
Speaker 4: apart from Robinhood Coinbase, for example, we have a very
25:05
Speaker 4: deep relationship with them in a number of ways, and
25:08
Speaker 4: I would just keep your eyes peeled for the next
25:10
Speaker 4: couple of months. I think there's a lot more coming
25:11
Speaker 4: down the pike there in terms of uh kracking. You know,
25:16
Speaker 4: we launched x stock with Kracken, which is like the
25:20
Speaker 4: first like real way to get exposure to stocks on chain.
25:24
Speaker 4: I think we just like pass a billion dollars of
25:26
Speaker 4: volume on those soakens or something like that on so
25:27
Speaker 4: which is pretty cool. Yeah, I like, you know, I
25:31
Speaker 4: personally I think, you know, uh, it makes a lot
25:35
Speaker 4: of sense to uh to build nol too. If you're
25:38
Speaker 4: planning to launch a token of your own and you
25:39
Speaker 4: want to try to capture the underlying value like that,
25:42
Speaker 4: that kind of makes sense. I think Solana is built
25:44
Speaker 4: for a different type of a different type of founder.
25:47
Speaker 4: We really have won the consumer layer. I would say,
25:50
Speaker 4: like people who want distribution to to an end user
25:54
Speaker 4: end up coming to Solana. It doesn't. I don't think
25:57
Speaker 4: it concerns us that people are building elsewhere like I
26:00
Speaker 4: do think Solana has stood out first distribution we talked to,
26:03
Speaker 4: like any corporate or any startup founder salons on their
26:08
Speaker 4: mind when they're thinking about reaching millions of people.
26:11
Speaker 1: What do you make of Avalanche's strategy. Obviously they've been
26:16
Speaker 1: able to go out there and really address this. I'm
26:19
Speaker 1: just looking at in general, the idea around r WA's
26:23
Speaker 1: and where Avalanche has been able to kind of hold
26:25
Speaker 1: this position. How would you say that is different than
26:30
Speaker 1: what you're mentioning there.
26:35
Speaker 4: I mean, I don't really know that much about Avalanche,
26:38
Speaker 4: to be honest, but I think my comments from before
26:42
Speaker 4: probably are pre relevant here.
26:45
Speaker 1: Okay, all right, fair enough, Okay, Well let's just jump
26:48
Speaker 1: over to polymarket. When you look at polymarket and the
26:53
Speaker 1: explosion that we've seen, and the likelihood is this is
26:56
Speaker 1: going to become one of the major projects out there,
26:58
Speaker 1: probably when they of the US market. It's gonna just
27:01
Speaker 1: absolutely own nuts prediction markets. Why has Salona not been
27:05
Speaker 1: in this game?
27:07
Speaker 4: Oh, we're definitely in this game, Like definitely in this game.
27:10
Speaker 4: So first of all, you can deposit into polymarket with Soul,
27:15
Speaker 4: same with Kelshie so Calsh's poly Market's biggest competitor. We
27:19
Speaker 4: have a builder program with Kelshi. They just announce and
27:24
Speaker 4: partner with Juper Exchange, which are the biggest DEXs Andal
27:26
Speaker 4: crypto that's built on Slana so calchial liquidity, and these
27:31
Speaker 4: prediction market liquidity is now tradeable on chain. I want
27:35
Speaker 4: to say we lead in the terms of the number
27:37
Speaker 4: of prediction market products are neededly built on Salona. Across
27:39
Speaker 4: all chains. We have more than twenty five things like
27:42
Speaker 4: melee markets, things like P and P, a long list
27:45
Speaker 4: of folks that are building really bleeding edge kind of
27:47
Speaker 4: prediction market products. You can also access poly market directly
27:51
Speaker 4: from Soeul using something called Fireplace DOGG. So I think
27:55
Speaker 4: we're kind of all over this, like one trying to
27:57
Speaker 4: plug into the biggest players here. And then two, there's
28:00
Speaker 4: application layer that's developing where you have like bleeding edge
28:03
Speaker 4: types of prediction market products. Like an example of this
28:07
Speaker 4: is like we have Melee, which has been doing really well,
28:09
Speaker 4: and they have you like bonding curve style prediction markets.
28:13
Speaker 4: So if you make a prediction early on in the
28:17
Speaker 4: market and any any prediction markets similar to like a
28:22
Speaker 4: mean coin like, you actually kind of get in early
28:25
Speaker 4: and the value of your prediction kind of multiplies from there.
28:30
Speaker 1: Well, I agree with you in the sense that we
28:32
Speaker 1: are seeing a burgeoning prediction market. Most of the transactions though,
28:36
Speaker 1: are being done on polygon USDC, at least on poly Market.
28:40
Speaker 1: Granted that may not be the case with Calci, but Calci,
28:44
Speaker 1: I just you know, if I'm betting on one of
28:46
Speaker 1: these to win. I'm kind of leaning toward Copeland's project
28:49
Speaker 1: right now based on the kind of efforts they've done
28:52
Speaker 1: and also just the accuracy and their ability to cross
28:55
Speaker 1: into so many different veins of life, including politics, sports,
28:59
Speaker 1: et cetera. It seems like poly market might be the
29:01
Speaker 1: winner here. So she's crushing it too.
29:04
Speaker 4: I wouldn't, Yeah, I would. I wouldn't throw them out.
29:08
Speaker 1: I'm not there could be two winners. There could be
29:09
Speaker 1: two winners here for sure, because I mean, let's be honest,
29:13
Speaker 1: cal She had a little bit of an edge because
29:15
Speaker 1: they were a US base. They were also regulated here
29:17
Speaker 1: in the United States versus where poly Market is not
29:20
Speaker 1: and was not regulated and is just now getting to
29:23
Speaker 1: the point where they will be on even keel with
29:26
Speaker 1: with Calshi. Do you think in a year from now
29:30
Speaker 1: that we will see Calshi and poly Market on the
29:32
Speaker 1: same level, or do you think it's going to be
29:35
Speaker 1: the difference between from you know, in Nvidia.
29:38
Speaker 4: And av I think, I mean from a from a
29:41
Speaker 4: volume perspective, they're actually like pretty close. I don't have
29:43
Speaker 4: the numbers in front of me. I could pull them up,
29:45
Speaker 4: but there really aren't that That's yeah, They're really not
29:49
Speaker 4: that far apart, just in terms of actual usage. They
29:52
Speaker 4: have distinctly different strategies and cal She's pursuing more of
29:55
Speaker 4: a platform strategy, which you can see by you know,
29:58
Speaker 4: how they're trying to enable their builders to kind of
29:59
Speaker 4: build on top of their underlying liquidity in markets. It's
30:03
Speaker 4: more I would compare it more like maybe iPhone and
30:07
Speaker 4: Android in a way, like you have more more like
30:11
Speaker 4: you know, centralized in product focus approaching and more platform
30:14
Speaker 4: and distribution focused approach. It's early days, but I yeah,
30:18
Speaker 4: I would be really shocked looking to hear and they
30:21
Speaker 4: want both extremely strong companies.
30:25
Speaker 1: Well, but they're going to be strong. Question is do
30:27
Speaker 1: we an I p O from Polymarket? Do we get
30:30
Speaker 1: obviously a token who knows what's going to happen there
30:33
Speaker 1: with with timing, I think a lot wcelona.
30:37
Speaker 4: I think that would be uh watching.
30:40
Speaker 1: Mom there you go, Shane. If you're watching this right now,
30:43
Speaker 1: you heard it from Vivu himself. So one other thing
30:47
Speaker 1: we got to hit on a couple of other things
30:48
Speaker 1: I want to jump onto is Salona Mobile. We've been
30:52
Speaker 1: a big fan of the Seeker. We have them. That
30:55
Speaker 1: was my opening video right there. However, there has been
31:00
Speaker 1: some complaints, and most of the complaints we've seen have
31:05
Speaker 1: come in from some of our audience that just weren't
31:08
Speaker 1: able to get it, et cetera. What is Solana? What
31:12
Speaker 1: can you tell us that where Solona is trying to
31:15
Speaker 1: address some of those issues.
31:18
Speaker 4: So, just to be clear, the Salona Mobile team is
31:22
Speaker 4: run out of Small Labs, which is not the foundation,
31:24
Speaker 4: So I don't directly work on anything to do with
31:26
Speaker 4: the phone. From what I've seen, I think there are
31:29
Speaker 4: some regions of the role, like India, for example, where
31:33
Speaker 4: shipping was more of a challenge, or maybe they weren't
31:35
Speaker 4: shipping there.
31:36
Speaker 1: Okay, well labs, if you're listening, that was actually our problem.
31:39
Speaker 1: We had multiple phones.
31:40
Speaker 4: That we can introduce you to them if you'd like.
31:42
Speaker 1: Yeah, we had multiple phones that came to our studio,
31:46
Speaker 1: but some of them did not arrive and trying to
31:49
Speaker 1: get them delivered to our studio. We're in America, We're
31:52
Speaker 1: not in India. We're in Miami, so that that was
31:56
Speaker 1: an issue.
31:57
Speaker 4: And of course you didn't get your phones.
31:59
Speaker 1: Yeah, well it was one of our key researchers which
32:03
Speaker 1: didn't get his phone, so it was kind of like,
32:05
Speaker 1: oh gosh, that's not a good look. One last one,
32:09
Speaker 1: last point I wanted to hit on was the gaming
32:11
Speaker 1: side of things, because obviously we've been reporting heavily on Swee.
32:15
Speaker 1: Swee of course, has has built a very solid, what
32:19
Speaker 1: appears to be a very solid integration into gaming. What
32:23
Speaker 1: would you say is Solana's gaming position right now in
32:27
Speaker 1: terms of overall strategy.
32:29
Speaker 4: Here a foundation of a dedicated gaming team, you can
32:33
Speaker 4: also check out Solana gaming on Twitter. I mean, there
32:35
Speaker 4: are a lot of interesting games. I would say, Like
32:38
Speaker 4: for me, it's not something I work on every day.
32:40
Speaker 4: I think Sweet has been you know driving definitely like
32:44
Speaker 4: you know, a driving force there. I think about games,
32:47
Speaker 4: or we think about games maybe a little differently, Like
32:49
Speaker 4: I think there's a lot of interesting stuff generally in
32:52
Speaker 4: the kind of like dot fun economy that have game
32:55
Speaker 4: like mechanics, things like rush trade is something to check
32:58
Speaker 4: out where you have like reading products or things like
33:03
Speaker 4: addicted dot fund or today spots dot Fun Launch. Like,
33:06
Speaker 4: there's a lot of interesting game like trading experiences that
33:09
Speaker 4: are originating on Salon because of the depth of assets
33:11
Speaker 4: that we have on chain. But maybe like the more
33:13
Speaker 4: like Triple A visual types of things, you know. I
33:16
Speaker 4: think swee As definitely like stood out on that side personally,
33:20
Speaker 4: not not the catagorm super interested in.
33:22
Speaker 1: But what would you say, is the is the best
33:25
Speaker 1: game on Solana right now?
33:28
Speaker 4: The best game on Solana. It's a good question. I
33:35
Speaker 4: can't answer that because I've never really played one. To
33:36
Speaker 4: be honest with you, we have a we do have
33:39
Speaker 4: something cool. One thing I would point out is play
33:41
Speaker 4: Solana there's a there's a cool uh kind of like
33:44
Speaker 4: we have like a game Boy type of thing. Mine
33:46
Speaker 4: hasn't shipped yet, but those started shipping to customers and
33:49
Speaker 4: they have a whole library of stuff there. But I
33:51
Speaker 4: haven't played a video game in forever, man Like, it's
33:54
Speaker 4: just not what they really do.
33:55
Speaker 1: There's a lot of gamers out there, vi boos, so
33:58
Speaker 1: it's and I think web three is going to be
33:59
Speaker 1: a you know, a supercharge sector of this. Obviously, we've
34:02
Speaker 1: had Yatsu from Animoca Brands on many times, who of
34:06
Speaker 1: course has been all around uh, you know, the gaming
34:09
Speaker 1: industry itself, so the opportunity is real. I hope that
34:12
Speaker 1: we see more expansion within the Salona ecosystem for games.
34:17
Speaker 4: For sure, there is a lot of stuff happening with
34:19
Speaker 4: the games. I'm just personally not aware of it because
34:21
Speaker 4: I don't really work on that category.
34:22
Speaker 1: So yeah, no, I understand, I understand. I want to
34:25
Speaker 1: want to get funded well, and in reality, you could
34:27
Speaker 1: probably say pumped up fund is probably the best gaming
34:30
Speaker 1: ecosystem because in my you know, the way it's being utilized,
34:34
Speaker 1: so in a way, it's been a social and cultural game. Okay,
34:38
Speaker 1: that's pretty much kind of the wrap up here when
34:41
Speaker 1: you look at Soul where it is right now, could
34:44
Speaker 1: you give us a price prediction?
34:48
Speaker 4: All of crypto has been kind of you know in
34:50
Speaker 4: this like more depression. Uh. You know, at least the
34:53
Speaker 4: timeline is like in shambles all the time. But you know,
34:56
Speaker 4: like end of the year. I mean, who knows, like
34:58
Speaker 4: every like the our market forces way beyond you were
35:01
Speaker 4: my purview today, Like it's it's not a market I
35:04
Speaker 4: really enjoy trading in. I'd just rather focus on holding stuff.
35:08
Speaker 1: I like when you say end of year and market
35:11
Speaker 1: forces in the same sentence, that tells me maybe maybe
35:16
Speaker 1: there's something looming here. Of course, everybody else is kind
35:18
Speaker 1: of saying this. Matt Hogan was talking about this just today.
35:21
Speaker 1: He said that he thought that institutional is going to
35:25
Speaker 1: kind of sidestep this and push to the end of
35:27
Speaker 1: the year.
35:27
Speaker 4: So there's so much going on, like it's hard not
35:30
Speaker 4: to believe that, Like this year has like been a
35:34
Speaker 4: year of where dreams have been made in our industry,
35:36
Speaker 4: like we you know what I mean, Like uh, and
35:40
Speaker 4: so you know, I think from just looking at Solana,
35:43
Speaker 4: like this year on you know, I think application revenues
35:46
Speaker 4: on track for like five billion dollars a year on
35:48
Speaker 4: Salon itself. I think our rav is somewhere between two
35:52
Speaker 4: and three billion dollars at the network level. These are
35:55
Speaker 4: all like, these are things that we dreamed of years
35:57
Speaker 4: ago and they're happening. Yeah, you know, the price you
36:02
Speaker 4: know is going to be is going to do its
36:03
Speaker 4: own thing. It's got there's all kinds of stuff. You know.
36:07
Speaker 4: This week is so interesting because we had this, like
36:09
Speaker 4: we had six seven days of like net inflows into
36:12
Speaker 4: the Saloon ETFs. It's like, yeah, you know, it's like
36:17
Speaker 4: it's really hard to predict. I think the best thing
36:19
Speaker 4: we can do is just keep building fundamental value of
36:22
Speaker 4: the network and making sure that people love using it
36:24
Speaker 4: and that there's great products and everything else will take
36:27
Speaker 4: care of itself at least in the long run.
36:29
Speaker 1: Vibo, it's been good having you on man. I appreciate
36:32
Speaker 1: you coming on the show. Thank you so much. We're
36:34
Speaker 1: going to keep a close eye on what's happening with Solana,
36:37
Speaker 1: and I want to get my Seeker. So anybody that's
36:41
Speaker 1: listening watching this show right now, one of our guys
36:44
Speaker 1: needs you Seeker. And we got to get over to
36:47
Speaker 1: Breakpoint and cover a lot because I see so many
36:49
Speaker 1: new products are I'm going to try, because there's so
36:53
Speaker 1: many great new projects that usually get launched there, and
36:57
Speaker 1: that is a great time for us to get in
36:59
Speaker 1: front of the salon a community.
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Speaker 4: For sure, you should come. This is the year to come.
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Speaker 4: It's gonna be a blast, and like, all right, from
37:06
Speaker 4: what I know, it's gonna be ah, it's gonna you're
37:09
Speaker 4: gonna have a blast, honestly.
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Speaker 1: Yeah, okay, well that's what we'd like to help. Thank
37:15
Speaker 1: you Vibo again, thanks again for stopping in today. We
37:18
Speaker 1: appreciate it.
37:18
Speaker 4: Thank you Paul.
37:19
Speaker 1: All Right, you guys you know what to do. Make
37:21
Speaker 1: sure and like and subscribe. Also, if you're not in
37:23
Speaker 1: the Diamond Circle, that's our own private group that you
37:25
Speaker 1: can get and be a part of. It's absolutely free.
37:28
Speaker 1: All you have to do is hit the link down below,
37:30
Speaker 1: follow me out there on x at Paul Baron. We'll
37:32
Speaker 1: catch you next time right here on The Paul Baron Show.