Latest / The Paul Barron Crypto Show / Solana Tokenized Stocks Potential🚀Nick Ducoff Solana Foundation INTERVIEW

Transcript

Solana Tokenized Stocks Potential🚀Nick Ducoff Solana Foundation INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Let's dive into the Solana project today. There's going to
• 0:02
  Speaker 1: be a lot to talk about. You don't want to
• 0:03
  Speaker 1: miss it. Welcome into the show. Let's get started. I
• 0:06
  Speaker 1: do you want to thank our sponsor, and that is
• 0:08
  Speaker 1: tangentm This is where you guys can get into self custody.
• 0:10
  Speaker 2: It's very easy to do.
• 0:11
  Speaker 1: You just jump over to Tangent's website. You can order
• 0:14
  Speaker 1: your three card set. This is a physical card, so
• 0:17
  Speaker 1: it is a self custodied device that works with your phone.
• 0:21
  Speaker 1: You guys, of course, can get it over there and
• 0:23
  Speaker 1: use our code. It's going to help us out, helps
• 0:25
  Speaker 1: you guys out because it get you a little bit
• 0:26
  Speaker 1: of a discount. Get the three card set a great
• 0:29
  Speaker 1: way to get started in self custing in. I always
• 0:31
  Speaker 1: recommend that if you're brand new to crypto or you're
• 0:33
  Speaker 1: an OG, doesn't matter. I want to lead off with
• 0:37
  Speaker 1: this right here, and that is the Tesla X stock. This,
• 0:41
  Speaker 1: of course is the activity we're seeing on x stoc
• 0:44
  Speaker 1: on Solana and Tesla. So my question is when you
• 0:48
  Speaker 1: look at the performance of this x stock in comparison
• 0:52
  Speaker 1: to what we've seen with Solana, is this maybe is
• 0:55
  Speaker 1: Solana maybe the new Tesla in terms of performance and
• 0:59
  Speaker 1: opportunity to hear with so many things happening within this ecosystem.
• 1:03
  Speaker 1: All right, so one more thing I want to jump
• 1:05
  Speaker 1: over to. This is called whysalona dot com. This just
• 1:07
  Speaker 1: kind of shows you a comparison of what this might
• 1:09
  Speaker 1: look like down the road. And if you look at
• 1:12
  Speaker 1: Tazla at what is one point four trillion right now
• 1:15
  Speaker 1: in terms of market cap, the potential here if you
• 1:17
  Speaker 1: kind of compare it to what xdox is doing, but
• 1:20
  Speaker 1: Solana price this is looking at the eight market at
• 1:23
  Speaker 1: a half a trillion, around nine hundred bucks one point
• 1:25
  Speaker 1: five trillion, we'd look at two thousand and a four
• 1:27
  Speaker 1: and a half trillion dollar market cap, you'd see Solana
• 1:30
  Speaker 1: setting at a six thousand. This is running out with
• 1:32
  Speaker 1: a couple of top down assumptions too. Two trillion ten
• 1:36
  Speaker 1: percent of twenty thirty three ten percent of tokenized assets
• 1:40
  Speaker 1: on Solana. This may actually be a little bit of
• 1:42
  Speaker 1: a conservative number if you look out that far, but
• 1:46
  Speaker 1: the opportunity here of tokenized assets is going to get big.
• 1:50
  Speaker 1: This is Novogratz talking about why he is actually tokenizing
• 1:54
  Speaker 1: Galaxy Digital on Solana.
• 1:55
  Speaker 2: Take a look.
• 1:56
  Speaker 3: You know you made the choice to tokenize on Salana.
• 2:01
  Speaker 4: I love jump Capital as a partner. They've chosen to
• 2:04
  Speaker 4: build on the Salona blockchain. It's the most used blockchain.
• 2:07
  Speaker 4: So the facts are starting to build into the narrative
• 2:10
  Speaker 4: because if enough people buying into the narrative, then it
• 2:12
  Speaker 4: becomes high powered money itself.
• 2:14
  Speaker 3: Right.
• 2:15
  Speaker 4: We've added community as part of the investment process. Tesla's
• 2:21
  Speaker 4: a crypto.
• 2:21
  Speaker 2: Yeah.
• 2:22
  Speaker 4: The perfect example of that is is XRP. You want
• 2:26
  Speaker 4: to learn about it, say something bad about them. We
• 2:28
  Speaker 4: can look at how much use cases on the blockchain.
• 2:30
  Speaker 4: It's not nearly as much as on Solana, and that's
• 2:33
  Speaker 4: with the parent company selling tokens. Think about that. I
• 2:36
  Speaker 4: used to dismiss that no one gets tattoos about their.
• 2:40
  Speaker 2: Stock, right, Tesla probably a lot of them.
• 2:42
  Speaker 4: I think Tesla because it's become a crypto to the community,
• 2:45
  Speaker 4: it's called cult.
• 2:46
  Speaker 2: Yeah, And I think all.
• 2:47
  Speaker 4: Of crypto that are successful our cults.
• 2:50
  Speaker 1: I love that statement by Novigrats, all of crypto that
• 2:52
  Speaker 1: are successful our cults. And I also think that translates
• 2:55
  Speaker 1: into a very key handful of stocks, and Tesla Core
• 3:00
  Speaker 1: being one of them. Speaking of Salanta and how this
• 3:03
  Speaker 1: all plays into this, I want to bring in our
• 3:04
  Speaker 1: guest today, that is Nick Dukov, who is the head
• 3:06
  Speaker 1: of institutional Growth at the Salona Foundation.
• 3:09
  Speaker 2: Great to have you, Nick, Thanks so much for having me.
• 3:12
  Speaker 1: All Right, so let's just dive in quickly. We're looking
• 3:15
  Speaker 1: at a couple of points right now. The SEC made
• 3:17
  Speaker 1: a big surprise announcement. They're saying, Hey, don't worry about it.
• 3:21
  Speaker 1: We've got this new plan here, guys. You don't have
• 3:23
  Speaker 1: to run these filings anymore. We've got this whole new
• 3:26
  Speaker 1: listing process that you guys are going to fall into.
• 3:29
  Speaker 1: Is that going to be the case with Solana in
• 3:32
  Speaker 1: terms of an ETF launching this month, especially with these
• 3:36
  Speaker 1: new generic filings?
• 3:37
  Speaker 2: What is your thought?
• 3:39
  Speaker 3: Well, so it's September twenty ninth, So if this month
• 3:41
  Speaker 3: is September, I think no. If we're talking about October,
• 3:44
  Speaker 3: I think product.
• 3:45
  Speaker 1: Yes, yes, yes, yeah, I'm already in October, because I'm like,
• 3:49
  Speaker 1: we're ready, We're ready for October. Even Crypto excuse me,
• 3:52
  Speaker 1: Kramer is out there giving by signals for Crypto. So
• 3:56
  Speaker 1: I'm always concerned about that. BUTTF October tenth looking good
• 4:00
  Speaker 1: is what you're telling me? If you look at the
• 4:02
  Speaker 1: statements right here, We've got right there Solana coming in
• 4:06
  Speaker 1: with gray scale van K twenty one shares, Canary all
• 4:09
  Speaker 1: those ten tens, So that is a big one. That's
• 4:12
  Speaker 1: the date to watch right now around this And if
• 4:16
  Speaker 1: you look at in general the prediction and I'm going
• 4:20
  Speaker 1: to get your prediction on this of how these will perform,
• 4:23
  Speaker 1: and I'm going to specifically target Solana and XRP. Both
• 4:27
  Speaker 1: these seem to be going to be coming to market
• 4:30
  Speaker 1: about the same time. Which one will perform best in
• 4:33
  Speaker 1: the first thirty days?
• 4:34
  Speaker 2: What's your prediction?
• 4:36
  Speaker 3: Well, so, I think the main thrust is that it's
• 4:40
  Speaker 3: a bull market right now. We're going to risk on market.
• 4:44
  Speaker 3: Stock market keeps notching new highs every single day. You've
• 4:47
  Speaker 3: got the FED or lowering and interest rates and so
• 4:50
  Speaker 3: that's a good setup for risk assets. And historically crypto
• 4:55
  Speaker 3: like Solana has been correlated as a risk asset, and
• 5:00
  Speaker 3: so risk assets are on right now, and so I
• 5:03
  Speaker 3: think I think it's a good setup.
• 5:05
  Speaker 1: So okay, well in terms of performance, So you're obviously
• 5:08
  Speaker 1: Salona founday, So I'm assuming you're voting for the home team.
• 5:12
  Speaker 3: You know, my crystal ball has broken today, Paul, But
• 5:14
  Speaker 3: what I would say is that is that you know,
• 5:17
  Speaker 3: I think I think Solana is a great blockchain, and
• 5:21
  Speaker 3: and it's it's a great asset, and I think that
• 5:25
  Speaker 3: you know, if if you've been a user of either,
• 5:27
  Speaker 3: or a holder of either, or participant in either, you're
• 5:30
  Speaker 3: probably pretty happy.
• 5:31
  Speaker 1: I think this is going to be a good month,
• 5:33
  Speaker 1: hopefully this meaning October is going to be a good month.
• 5:37
  Speaker 1: As we drop this on late September, I want to
• 5:39
  Speaker 1: jump over to Doune Analytics because this shows some interesting
• 5:42
  Speaker 1: points right here around meme coins on Solana. Obviously, we
• 5:47
  Speaker 1: saw this massive jump up going into the election last year,
• 5:52
  Speaker 1: and of course that part of that was with Trump's
• 5:55
  Speaker 1: meme coins. Now we've started to see a little bit
• 5:57
  Speaker 1: of tail on the market. But in really and this
• 6:00
  Speaker 1: is a big opportunity, are mean coins Solana's most undervalued
• 6:04
  Speaker 1: part of the network.
• 6:06
  Speaker 2: What's your thoughts there?
• 6:07
  Speaker 3: The interesting thing is that the network is higher on
• 6:09
  Speaker 3: virtually every dimension than it was in January in that
• 6:12
  Speaker 3: spike that you saw, except for mean coins. So the
• 6:15
  Speaker 3: network is higher in terms of stable coins, networks, higher
• 6:18
  Speaker 3: in terms of trading transactions, networks higher on virtually every dimension.
• 6:22
  Speaker 3: And I think that's one of the things that makes
• 6:23
  Speaker 3: Salona really unique is that it's a general purpose blockchain
• 6:26
  Speaker 3: that can be used for all sorts of reasons and
• 6:28
  Speaker 3: is used by over eighty million people a month all
• 6:31
  Speaker 3: over the world. And so you had Pump though, which
• 6:34
  Speaker 3: is one of the mean coin launch pads, have a
• 6:37
  Speaker 3: tremendously successful on chain fundraising where they raised over half
• 6:42
  Speaker 3: a billion dollars in twelve minutes. And I think that's
• 6:45
  Speaker 3: really what is possible with internet capital markets on Salana
• 6:50
  Speaker 3: is that you can have assets and access to capital
• 6:55
  Speaker 3: all over the world twenty four to seven with unified liquidity.
• 6:59
  Speaker 3: And that's the really special thing about the Salona network when.
• 7:02
  Speaker 1: You look at the opportunity here in traditional markets versus
• 7:06
  Speaker 1: kind of this next evolution of markets. One point that
• 7:09
  Speaker 1: was made here by Kracken, which I think is a
• 7:11
  Speaker 1: good one. Imagine telling your twenty seventeen self, you'd be
• 7:14
  Speaker 1: swing training in Nvidia X on Kracken.
• 7:17
  Speaker 2: And I think that's the.
• 7:18
  Speaker 1: Question here is do you think that X stocks and
• 7:22
  Speaker 1: just in general token is stocks are going to be
• 7:25
  Speaker 1: an AHA moment for traditional markets when they see the
• 7:29
  Speaker 1: amount of transaction and opportunity here.
• 7:32
  Speaker 3: Well, you know, what x sucks did is it democratized
• 7:35
  Speaker 3: access to US equities to everyone in the world. If
• 7:39
  Speaker 3: you're a US person, it's not that hard to buy
• 7:41
  Speaker 3: US stocks. You create a brokerage account and there's many
• 7:44
  Speaker 3: great ones Schwab, Fidelity, Robinhood, whatever, and in five minutes
• 7:48
  Speaker 3: you're online and you're buying stocks. If you're in India,
• 7:50
  Speaker 3: if you're in Argentina, not only is your currency perhaps
• 7:54
  Speaker 3: quite inflationary, but you also may not have easy, ready
• 7:58
  Speaker 3: access to US public market. It's into the extent that
• 8:01
  Speaker 3: you do. The fees are typically quite high to trade
• 8:04
  Speaker 3: on brokerages for ADRs. So what xdocks really did is
• 8:07
  Speaker 3: it allowed people to buy US equities, which US has
• 8:11
  Speaker 3: been kind of the engine of growth for the entire
• 8:14
  Speaker 3: world for the last one hundred years. It's been a
• 8:16
  Speaker 3: great place to invest, continue to be a great place
• 8:19
  Speaker 3: to invest, and now you can do that on the
• 8:21
  Speaker 3: Salona blockchain, no matter who you are anywhere in the world.
• 8:23
  Speaker 3: Twenty four to seven with instant settlement.
• 8:25
  Speaker 1: What do you think wins nick volume or holders? And
• 8:30
  Speaker 1: I'm looking to hear at token I stocks. This of
• 8:31
  Speaker 1: course showing on those growth that's in reference to total value,
• 8:35
  Speaker 1: but if you look at active addresses, you know right
• 8:38
  Speaker 1: there on Solana that.
• 8:40
  Speaker 2: Is based on actually the people that are in the market.
• 8:44
  Speaker 1: What do you think wins in terms of how this
• 8:46
  Speaker 1: plays out for token ice stocks, Well.
• 8:48
  Speaker 3: I think I think that's a great chart that you
• 8:50
  Speaker 3: just showed because it tells the whole story of Ethereum
• 8:52
  Speaker 3: in Salona and a single data point, which is Salona
• 8:57
  Speaker 3: is a general purpose blockchain. It's the fastest sheep is blockchain.
• 9:00
  Speaker 3: It's incredibly resilient, reliable, and as a result, you've got
• 9:03
  Speaker 3: eighty million people a month using the Salona network. It's
• 9:06
  Speaker 3: the most used blockchain in the world. And in fact,
• 9:08
  Speaker 3: there are more transactions on Solana than there are on
• 9:11
  Speaker 3: all other public blockchains combined. And what you have with Ethereum,
• 9:15
  Speaker 3: and by the way, I have a lot of respect
• 9:17
  Speaker 3: for Etheroeum. None of us would be here if not
• 9:19
  Speaker 3: for Ethereum. And however that it's seventyps and it's just
• 9:25
  Speaker 3: not a blockchain that's really built for scalability. You have
• 9:28
  Speaker 3: to make a trade off between scalability and liquidity, and
• 9:31
  Speaker 3: the incredible thing about Salona is you don't have to
• 9:33
  Speaker 3: make that trade off. The two by two matrix I
• 9:35
  Speaker 3: always talk about is scalability on one access and liquidity
• 9:39
  Speaker 3: on the other, And generally speaking, you have to trade
• 9:42
  Speaker 3: one off. With ethereum MAInet, you have liquidity, but you
• 9:46
  Speaker 3: don't have scalability. With some of these new high performance
• 9:49
  Speaker 3: chains like a you know the move chain's apptose Suit
• 9:53
  Speaker 3: you've got you've got high performance but use scalability, but
• 9:56
  Speaker 3: you don't have liquidity. With Salona, you have both scalability
• 10:00
  Speaker 3: and liquidity in a unified venue. And I think that's
• 10:03
  Speaker 3: truly remarkable and really differentiating.
• 10:06
  Speaker 1: I'm looking at just a statement here by super State.
• 10:10
  Speaker 1: This is a reference to sharplink gaming s bet you
• 10:12
  Speaker 1: guys will recognize their elym kind of zoom in one of.
• 10:15
  Speaker 2: The largest corporate holders of ETH.
• 10:18
  Speaker 1: Now it's a tempt tokenize its public shares directly on
• 10:20
  Speaker 1: Ethereum with super State. But at the same time, you know,
• 10:24
  Speaker 1: the opportunity here is with Salona as well. So wills
• 10:27
  Speaker 1: bet end up having more trade volume on Solana or Ethereum.
• 10:32
  Speaker 1: I'm kind of curious, what do you think we'll take
• 10:35
  Speaker 1: place here?
• 10:35
  Speaker 3: So so s BAT is an Ethereum, that digital asset
• 10:39
  Speaker 3: treasury company, there are there are many Salona dats, including
• 10:42
  Speaker 3: Forward Industries, which raised one point sixty five billion in
• 10:45
  Speaker 3: cash a couple of weeks ago, and that's a project
• 10:48
  Speaker 3: led by Galaxy Jump and Multi Point Capital. And Forward
• 10:52
  Speaker 3: Industries has been tokenized by super State on Solana, and
• 10:55
  Speaker 3: super State has tokenized a lot of equities on Solana
• 10:59
  Speaker 3: and going deeper and deeper, they announced sol strategies I
• 11:03
  Speaker 3: think PEXI DeFi DEV and others. So you're going to
• 11:07
  Speaker 3: see more and more equities being token iceed on Solana,
• 11:09
  Speaker 3: from the likes of super State, from the likes of Republic,
• 11:12
  Speaker 3: from the likes of Ono, from the likes of x stoc.
• 11:15
  Speaker 3: We now have dozens of on chain r w A
• 11:18
  Speaker 3: issuers bringing assets from all over the world onto Salona
• 11:22
  Speaker 3: in a single liquidity venue.
• 11:24
  Speaker 1: All right, so your your prediction is is Salana wins that?
• 11:28
  Speaker 3: Just prediction Milana wins everything.
• 11:31
  Speaker 1: Okay, Well, then we don't have to do any more predictions.
• 11:34
  Speaker 1: Salona wins on that.
• 11:36
  Speaker 3: There you go.
• 11:37
  Speaker 1: I want to go into pre stocks listing here because
• 11:41
  Speaker 1: this this kind of gives some indication.
• 11:43
  Speaker 2: On the future of I P O S.
• 11:45
  Speaker 1: Maybe if you think about this Andrell, you guys know
• 11:47
  Speaker 1: that open AI and their SpaceX et cetera. Is this
• 11:50
  Speaker 1: possibly the future of I p O s down the
• 11:53
  Speaker 1: down the road?
• 11:54
  Speaker 3: What do you think? I'm so I'm so excited about
• 11:57
  Speaker 3: private equities on chain, private equities, private credit, private real estate.
• 12:01
  Speaker 3: Private markets historically have been very expensive, very opaque, and
• 12:05
  Speaker 3: very difficult to access. And now with the likes of
• 12:08
  Speaker 3: pre stocks and Republic Mirror tokens and Apollo Private Credit
• 12:14
  Speaker 3: and many others, you now are democratizing access to these
• 12:18
  Speaker 3: really unique and valuable and historically hard to access assets
• 12:22
  Speaker 3: to the broader general public. And the thing that I
• 12:26
  Speaker 3: think also goes unspoken, which shouldn't, is that it also
• 12:30
  Speaker 3: brings access to liquidity for those issuers and their early investors,
• 12:36
  Speaker 3: because one of the things we've seen is there's a
• 12:38
  Speaker 3: line at the gate to go go public. It's now
• 12:41
  Speaker 3: thirty thousand private companies deep right, and they just all
• 12:44
  Speaker 3: will not be able to IPO traditional on the traditional exchanges. However,
• 12:49
  Speaker 3: with thousands of tokens being launched a day on Solana,
• 12:53
  Speaker 3: the doors always open for folks to access liquidity on
• 12:57
  Speaker 3: Solona twenty four to seven.
• 12:58
  Speaker 1: Well, one unique thing is if you look at the
• 13:02
  Speaker 1: companies that are in here, you've got x AI, you've
• 13:05
  Speaker 1: got SpaceX, you also have open AI. I guess kind
• 13:09
  Speaker 1: of you know, there's there's an eerie connection to what's
• 13:13
  Speaker 1: happened in Tesla, which has already been the top performing
• 13:16
  Speaker 1: x stoc out there. So it creates these community elements.
• 13:19
  Speaker 1: I'm wondering if that is going to be the jettison
• 13:22
  Speaker 1: to help this kind of grow these communities that we
• 13:25
  Speaker 1: already know exist, whether it's a Salonic community, the Tasla community,
• 13:28
  Speaker 1: x RP community, you name it. Uh, the opportunity is
• 13:31
  Speaker 1: going to be pretty significant here. How important is that
• 13:35
  Speaker 1: with the future of token is stocks, These communities that
• 13:38
  Speaker 1: act on.
• 13:38
  Speaker 3: These Well, what I've said for a long time is
• 13:42
  Speaker 3: any community with a subreddit probably could have a very
• 13:47
  Speaker 3: good token, right, you know, because if you have an
• 13:50
  Speaker 3: active community, if you've got folks that are participating and
• 13:53
  Speaker 3: contributing and aligning around you know something that that's the
• 13:59
  Speaker 3: makings for thing that will do well as a token
• 14:03
  Speaker 3: on the blockchain with that community behind it. And of course,
• 14:06
  Speaker 3: you know, not everything is in equity. We've got the
• 14:09
  Speaker 3: Clarity Act in Congress today. Hopefully we'll see that get
• 14:15
  Speaker 3: passed some time later this year. Perhaps which will more
• 14:17
  Speaker 3: clearly delineate what is a commodity, what is a equity,
• 14:21
  Speaker 3: and what disclosures are necessary for each And I think
• 14:25
  Speaker 3: that will really pave the road for many more of
• 14:30
  Speaker 3: these tokenized fundraisings in the future.
• 14:32
  Speaker 1: Yeah, for sure, I think this is just the tip
• 14:35
  Speaker 1: of the iceberg. Guys, as they say, I want to
• 14:38
  Speaker 1: speaking of tip of the iceberg, I want to talk
• 14:39
  Speaker 1: about payments.
• 14:41
  Speaker 2: Now.
• 14:41
  Speaker 1: This is an area that we believe, our research team, myself,
• 14:44
  Speaker 1: we've been watching this for quite a while. Who's going
• 14:47
  Speaker 1: to be the winner here in terms of payments? Salona
• 14:49
  Speaker 1: pay was one that I had a lot of faith in.
• 14:52
  Speaker 1: I felt like this is going to be the middleware
• 14:56
  Speaker 1: challenger in terms of disappearing what is required a traditional
• 15:00
  Speaker 1: payment to happen that has not necessarily happened right now
• 15:04
  Speaker 1: because now obviously Solana Pay connected with Visa, supporting the
• 15:09
  Speaker 1: traditional networks for payment as opposed to the new networks
• 15:13
  Speaker 1: that might be out there. Do you think that is
• 15:16
  Speaker 1: just an interim step or is this something that now,
• 15:18
  Speaker 1: this is the way it's going to be.
• 15:19
  Speaker 3: Well, so, the payment's ecosystem on Salona is much bigger
• 15:22
  Speaker 3: than Salona Pay. I really think Salona pay was really
• 15:27
  Speaker 3: just an app that was built to show the ecosystem
• 15:31
  Speaker 3: what was possible, and it led to a Cambrian explosion
• 15:34
  Speaker 3: of innovation. You've got Stripe, you've got PayPal, you've got Visa,
• 15:38
  Speaker 3: you've got MasterCard, you've got world pay, and others who
• 15:41
  Speaker 3: are all building payment solutions on the Salona network. You
• 15:45
  Speaker 3: had fiserv that recently announced that they're issuing a stable
• 15:49
  Speaker 3: coin on Solana for their three thousand partner banks. So
• 15:52
  Speaker 3: I think we're still really early in the arc of
• 15:56
  Speaker 3: payments on chain, and one of the other things that
• 15:59
  Speaker 3: needs to happen is the point of sale at the
• 16:03
  Speaker 3: merchants need to start accepting stable coins and cryptois payment,
• 16:07
  Speaker 3: and I think you'll see the likes of Toast and
• 16:09
  Speaker 3: other leading PUS systems do that over the next year,
• 16:12
  Speaker 3: because how could they not after the passing Genius, It's
• 16:15
  Speaker 3: just like, you know, they're waving the green flag saying
• 16:18
  Speaker 3: go go, go, go go, and everyone in anything that
• 16:21
  Speaker 3: touches finance, fintech payments equities is now you know, having
• 16:27
  Speaker 3: to have a strategy to be on chain.
• 16:28
  Speaker 1: So it's kind of like, in a way, very similar
• 16:32
  Speaker 1: to the mobile project that you guys launched.
• 16:35
  Speaker 2: Obviously, you look at where the seeker.
• 16:37
  Speaker 1: Is and it's showing the other interest you know, the
• 16:40
  Speaker 1: other industry players out there.
• 16:42
  Speaker 2: This is the way that.
• 16:43
  Speaker 1: You can you can go and attack a market. When
• 16:45
  Speaker 1: you look at fintech's, you think about Robinhood, you look
• 16:48
  Speaker 1: at crack and coinbase, all those choosing an L two
• 16:52
  Speaker 1: route versus Solana, why do you think.
• 16:55
  Speaker 3: That is, Well, it's economics right with L two's you
• 16:59
  Speaker 3: can capture the seat and surfees. But we do have
• 17:02
  Speaker 3: a solution for this. We've actually been working on something
• 17:06
  Speaker 3: and we have a few design partners that we've been
• 17:09
  Speaker 3: working very closely with to allow folks to build on
• 17:12
  Speaker 3: the Salona network without fragmenting liquidity. And this is the
• 17:15
  Speaker 3: main thing. Right from the very beginning, Salona's vision was
• 17:19
  Speaker 3: on chain nasac all assets on Earth trading in a
• 17:22
  Speaker 3: single liquidity venue. Whereas in the Ethereum roadmap, they've they've
• 17:26
  Speaker 3: to get the scalability, they've had to make a very
• 17:29
  Speaker 3: tough choice of fragmenting liquidity. And now you're seeing that
• 17:32
  Speaker 3: even further and so we do have a solution that
• 17:38
  Speaker 3: you know, stay tuned for more info. On that soon
• 17:41
  Speaker 3: where folks like a Robinhood can build on the Salona network,
• 17:45
  Speaker 3: access the liquidity at the l one and capture more
• 17:49
  Speaker 3: of the fee revenue.
• 17:51
  Speaker 2: Well, that's news. That's news.
• 17:53
  Speaker 1: That would be fantastic, I think, and well needed, I
• 17:56
  Speaker 1: think in the industry, because right now you're dealing with
• 17:58
  Speaker 1: you know, I think some of these organizations are are
• 18:01
  Speaker 1: kind of limping along trying to get these things done.
• 18:03
  Speaker 1: And I think it also shows that in many cases
• 18:06
  Speaker 1: they go, oh, this is harder than we thought. So
• 18:08
  Speaker 1: it slows down that whole process of getting into the
• 18:12
  Speaker 1: next phase of the market. Speaking of that, I want
• 18:14
  Speaker 1: to go into UI wars and this is in reference
• 18:17
  Speaker 1: to Phantom versus Meta Mask, and I'm going to zoom
• 18:19
  Speaker 1: in on this a little bit. Meta Mask launching a
• 18:21
  Speaker 1: new perp dex. This is an inn app rewards program
• 18:25
  Speaker 1: coming as well. You look at what's going on right
• 18:28
  Speaker 1: now with Meta Mask, which I would say, I mean,
• 18:31
  Speaker 1: everybody that's been in crypto for very long, they've been
• 18:33
  Speaker 1: using this for a long It's the og you know
• 18:36
  Speaker 1: wallet self cussing wallet out there, and it always had problems.
• 18:39
  Speaker 1: It wasn't a great you know, sexy UI. It had issues.
• 18:43
  Speaker 1: Then Phantom comes in. They were the new kid and
• 18:46
  Speaker 1: they absolutely destroyed it. I mean, just fantastic product, amazing wallet.
• 18:52
  Speaker 1: But now it might be a scenario where we got
• 18:55
  Speaker 1: some new features coming this way. How do you think
• 18:58
  Speaker 1: that plays out for the Salona ecosystem versus what's going
• 19:01
  Speaker 1: on with Meta Mask.
• 19:03
  Speaker 3: Well, it's really exciting. Meta Mask announced recently that they
• 19:05
  Speaker 3: now support the Salona network. Phantom of course, as you mentioned,
• 19:09
  Speaker 3: is og. You know, you've got to go all the
• 19:12
  Speaker 3: way back to the solid you know, if if you're
• 19:14
  Speaker 3: going further back than Phantom and soul Flare. But I
• 19:19
  Speaker 3: think there's so many great wallets out there. I think
• 19:21
  Speaker 3: Meta Mask has has recently hinted at a token, or
• 19:25
  Speaker 3: maybe even more than hinted at it. They may may
• 19:28
  Speaker 3: even publicly said that one is coming. And as you know,
• 19:32
  Speaker 3: as you know with with any decentralized application, when whenever
• 19:38
  Speaker 3: you start to say that a token is coming, you'll
• 19:41
  Speaker 3: you'll definitely generate more utilization for for folks that are
• 19:46
  Speaker 3: air drop farming. Phantom. As far as I know, they
• 19:49
  Speaker 3: haven't said anything about a token, and I can't speak
• 19:53
  Speaker 3: to their current plans. You know, they're of course an
• 19:55
  Speaker 3: independent private company, but they're doing fantastically well. Them is
• 20:00
  Speaker 3: an incredible wallet, and there's other great wallets in the
• 20:03
  Speaker 3: Salana ecosystem as well, like the as I mentioned, soul
• 20:05
  Speaker 3: Flare and the Fuse wallet from the Squad's team as well.
• 20:09
  Speaker 1: I'm looking on a couple of screenshots here that we pulled.
• 20:12
  Speaker 1: Let me pull them up right there. You'll see this
• 20:14
  Speaker 1: is on coinbase. That's a network fee on USDC. Then
• 20:20
  Speaker 1: you've got this image right here kind of showing just
• 20:23
  Speaker 1: some of the fees that are coming across that. You'll
• 20:25
  Speaker 1: see it on Sui obviously on Solana as well. So
• 20:29
  Speaker 1: my question is do you think we're seeing coin based
• 20:33
  Speaker 1: stifling Solana and Sui with these fees where you know
• 20:39
  Speaker 1: there it's kind of like benefiting ethereum versus what we're
• 20:43
  Speaker 1: seeing with Slana. I'm just kind of curious what do
• 20:44
  Speaker 1: you think is going on there.
• 20:46
  Speaker 3: So the base fee on Solana is about one thousandth
• 20:49
  Speaker 3: of a cent, so that's generally what it should cost
• 20:52
  Speaker 3: to make a sin transaction on the Salona blockchain. I
• 20:56
  Speaker 3: didn't see Salona on the screen you just showed, so
• 20:59
  Speaker 3: I can't speak to the current pricing is it on
• 21:01
  Speaker 3: there in any event.
• 21:03
  Speaker 2: Here, this is the Salona network right here.
• 21:05
  Speaker 3: Okay, so I trust you. The base fee is one
• 21:11
  Speaker 3: thousandth of percent and so that is what you would
• 21:13
  Speaker 3: typically expect for a sin transaction on the Salona blockchain.
• 21:17
  Speaker 3: You know, Brian Brian Armstrong, the CEO of coinbase, has
• 21:20
  Speaker 3: tweeted that, you know, they're working on making Salona a
• 21:22
  Speaker 3: first class citizen at coinbase, and I think you have
• 21:25
  Speaker 3: seen more of that. They recently announced a new bridge
• 21:28
  Speaker 3: from Base Salana. Listen, I'm I'm thrilled for all builders
• 21:33
  Speaker 3: in the Salona ecosystem. Coinbase is among them. But ultimately
• 21:37
  Speaker 3: it's to the user to decide which which they choose
• 21:40
  Speaker 3: to use. And generally speaking, users are going to go
• 21:42
  Speaker 3: to wherever things are fastest and cheapest, and if if
• 21:44
  Speaker 3: that's on Coinbase, great, and if that's you know, on
• 21:47
  Speaker 3: Phantom great.
• 21:48
  Speaker 1: Let's talk a little bit about fire Answer. Do you
• 21:50
  Speaker 1: think that's going to launch on time this year?
• 21:53
  Speaker 3: Fired answer is really really exciting, So Fired Answer, for
• 21:56
  Speaker 3: those of you that don't know, as an independent validator
• 21:58
  Speaker 3: client being built by Jump Crypto, it will increase theoretical
• 22:02
  Speaker 3: throughput on the Salon of network from sixty five thousand
• 22:05
  Speaker 3: to one million, as well as just lead to more
• 22:07
  Speaker 3: resiliency in the network, making Salona only the second smart
• 22:12
  Speaker 3: contract blockchain have multiple independent validator clients. And I'm not
• 22:17
  Speaker 3: sure what the latest announced timeline is for fire Dancer,
• 22:22
  Speaker 3: but I know it's coming soon, and I know the
• 22:25
  Speaker 3: teams that Jump and Onza and other ecosystem contributors to
• 22:29
  Speaker 3: the project are working really hard to get it live
• 22:32
  Speaker 3: and make sure that there's a seamless rollout. It already
• 22:35
  Speaker 3: does have some amount of stake weight on the public
• 22:39
  Speaker 3: MAInet today, so there is already some validators running the
• 22:43
  Speaker 3: fire Dancer a validator client on Salona mayet today, and
• 22:48
  Speaker 3: I expect we'll see a smooth and complete integration of
• 22:54
  Speaker 3: fire Dancer, you know, in the coming months.
• 22:56
  Speaker 1: If you guys don't already know, we've got a breakpoint
• 22:59
  Speaker 1: coming up into the so that's a perfect time to
• 23:01
  Speaker 1: be announcing those kind of things, so be on the
• 23:03
  Speaker 1: lookout for that. I'm sure that would be could be
• 23:06
  Speaker 1: the alignment here. Now I'm looking at another thing. I'm
• 23:10
  Speaker 1: looking at just Salon of hyper Liquid. Are you worried
• 23:13
  Speaker 1: about chains like hyperwork Liquid at all in terms of
• 23:17
  Speaker 1: the trading volume, the market attention momentum that it's starting
• 23:21
  Speaker 1: to get.
• 23:22
  Speaker 3: Yeah, so there's a saying only the paranoid survive, right,
• 23:25
  Speaker 3: And I think one of the things that is very
• 23:28
  Speaker 3: true about the Salona ecosystem. We've been through the ringer
• 23:33
  Speaker 3: and you know, we've come back and every time higher
• 23:37
  Speaker 3: and higher and higher. But that's not from complacency, right,
• 23:40
  Speaker 3: that's from action. And so when when when we see
• 23:44
  Speaker 3: competition and believe me, there's competition coming from all angles
• 23:47
  Speaker 3: all the time, as as you would expect, because Salon
• 23:50
  Speaker 3: is the most used blockchain in the world and it's
• 23:52
  Speaker 3: leading on virtually every key dimension and on perse trading,
• 23:55
  Speaker 3: you know, we see hyper liquid as as as someone
• 23:59
  Speaker 3: who's done really well and someone we obviously want to
• 24:03
  Speaker 3: beat in that dimension. And so one of the things
• 24:06
  Speaker 3: that is coming in that regard is alp and Glow,
• 24:09
  Speaker 3: which is an update to the Salona consensus mechanism that
• 24:12
  Speaker 3: will split voting in non voting transactions, both reducing the
• 24:15
  Speaker 3: cost to participate in the network as a validator and
• 24:18
  Speaker 3: also dramatically decreasing settlement finality from about four hundred milliseconds
• 24:22
  Speaker 3: to one hundred fifty miliseconds, ok, really increasing the speed
• 24:25
  Speaker 3: of the network. Already Salona is among if not the
• 24:27
  Speaker 3: fastest blockchain out there, it's getting even faster, and so
• 24:30
  Speaker 3: I think you'll see more of that trading volume move
• 24:32
  Speaker 3: from chains like hyper Liquid to Solana, both leading up
• 24:35
  Speaker 3: to and after Alp and Glow.
• 24:37
  Speaker 2: Yeah.
• 24:38
  Speaker 1: Well you've got Pacifica, you know obviously here Salona's perpetual
• 24:42
  Speaker 1: decks market right now, that might be an entrant that
• 24:45
  Speaker 1: you guys could keep an eye on in general.
• 24:47
  Speaker 2: And thank you so much for stopping it. We appreciate it,
• 24:49
  Speaker 2: my pleasure.
• 24:51
  Speaker 1: All right, you guys, make sure and get into our
• 24:53
  Speaker 1: own private group, which is the Diamond Circle.
• 24:55
  Speaker 2: You can do that by clicking the link down below.
• 24:57
  Speaker 1: It's very easy and it's free, so it's uh, that's
• 25:00
  Speaker 1: one of the reasons you should do it. And then
• 25:02
  Speaker 1: of course follow me out there on x at Paul Baron.
• 25:04
  Speaker 1: We'll catch you next time right here on the Paul
• 25:05
  Speaker 1: Baron Show.