Yo-yo, yo, what up? What up? Good morning, Good morning. GMG. Thursday, February 6th, more like January 37th, 37th. January 37th, 2025. Look at that. Another beautiful day to have a beautiful day. I got my coast in the house. Tyler Mandel, good morning. Good morning. Good morning, good morning. How you doing today? GM, can you hear me? Yeah, we actually hear you very well today. Fantastic. Because you're speaking into the microphone. Love that.
Look at that. We're going to get you on these SM7BS, bro. I've been trying, but I know Portugal's tough to to procure some new equipment, you know, so maybe I have to just bring it to in France or something. But you know, I got it. One of these. They're so smooth. I'll bring you one of these too. I go on for you too, Tyler. You know, rug radio box at the bottom. You know, I got him here, got him here. I got him here on my right.
Tyler, how you doing today? I'm good bullish news is pours in. We we got a big launch today, but it doesn't matter. Coins are just slowly bleeding out every day. At least maybe this is the opposite of the last few weeks, where Thursday was the local high, then we were down. Maybe, Maybe. Does that mean we pump Mondays Now? I'm not mad at that. I think the weekends off, you know, could be, it could be pretty nice, I'm not going to lie. Anyways, today on the show today
as usual. So market reports. Let's start with this market. I don't even know what they're saying with this market as it's chopping, but we'll we'll leave Manda to it. We have Tyler's top 1000 big launch date, Bear chain. Bear chain with main that this morning, very successful launch. It appears that it opened above what it went up with 1213 billion. Could be more, could be last right now, I have no idea. I have to look, but it's very successful launch on that front.
We have a guest coming on today, Bread guy. Bread guy's coming to talk about mega ETH. Oh yeah, you saw the news couple days ago. They're all over the place, so really curious to ask him a few questions here about what's going on with that and and how to participate in how our listeners can best, you know, make the most out of mega E right. We definitely to get back and getting all this guess on. And then last but not least, of course, a robot loot box spin.
Let's see who wins some money today. Hopefully you guys gonna win something. I'm gonna I'm gonna play around with the box. OK, during the show, try and see what I can do for you all on that front. And then this show is powered by Galaxies. Galaxies is a Web 3 platform empowering creators and brands to build unstoppable communities with full ownership and independence.
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Jam everyone. So let me just turn that down a little bit, a little bit too loud, I would say. Yeah, not a not a great day if you're in anything but Bitcoin, really Bitcoin is, it's kind of bounced for us, kind of unchanged from where we did the show. Unchanged, really. Yeah, Bitcoin dominance, though, is up to 62% basically. Now, it's not a pretty fucking chart, that one. Wow. If you're bullish on altcoins, this has been like a point of resistance, it seems. So maybe, maybe, maybe that
turns around. But but that is the number one trend in crypto right now is the big condominance is going higher. The majors are holding up OK, even in that world. Like it's not like Ethan Solano are down a lot. They're just kind of down a little bit maybe, but it definitely feels like Bitcoin is taking the majority of the liquidity and crypto.
And then I think this is Billish headlines for for Bitcoin a lot now, like again, another state looks like it's going to New Mexico, I think pass some sort of Bitcoin reserve or it's going to have a Bitcoin reserve bill. But up for for vote now the check the check central bank policy passed and now they're now moving towards putting some of their reserves into Bitcoin. And this is also a world where gold is hitting all time highs
as well. Just on the on the back of, you know, worries about trade wars, just worries about stocks in general. So Bitcoin is holding up very, very well and versus versus the rest of the market, it is a bit of a bloodbath. I would say actually it's more than just holding out well like we have. I show you your tweet this morning, Tyler, which is like $45 billion of meme coin market cap has been erased in three weeks, which is kind of wild. The cookie.
What? Yeah, Cookie dot Fun has has AI memes obviously, or AI agents going down to six, just above 6 right now. And that's where the majority of the losses are. If I look down the list, like AI16Z is actually hitting like new lows versus where it was on the weekend. Same for Ark Griffane AXPT, like we're basically at or through the lows that we saw on the big liquidation wig, so. Griffin's 140.
If you decided to buy AI on the dip, yeah like far coin down to 450 virtuals is holding on to $1.00 but feels like it go below that any moment. Zero bro 45. Yeah. Like we are, we are breaking out to new lows across the board. There. Wow. Yeah, yeah, pretty, pretty wild, I would say because it felt for for a short while at least that that was going to be the strongest sector on the bounce or amongst the strongest sectors in the bounce.
It now really doesn't feel good. And it's it's not just the utility coins as well, like far coin like I said, which is which has really been the the coin of the last few months, right. I mean that was at 2.7 billion, now it's at 450 million and that's. Yeah, it's wild. That is, that is wild. That's a goat like candle right there. What a dip, jeez. Wow, 80% from tops. That's not even the top, right. The top was actually. Yeah. But I mean it was 7. It's, it's flashed there.
But yeah, we could count it from there if you want 82%. Yeah, see a pretty wild move across the board. Meme coins are are also lower, but they they'd obviously been decimated kind of before that already. I think AI held up and is now seeing very similar sort of price move lower that we maybe saw in meme coins a month or two ago. So yeah, like even Pepe for example, it's kind of under has lost a digit there which isn't or gained a good digit even which isn't, which isn't a good
luck. The strongest bits of the market, there's not a lot out there today. Even the revenue producing protocols are lower. Hype is back down, 24 JLPS obviously held up OK, but slightly different sort of protocol gaming meme coins have been relatively strong. It's the story of today is literally the the gaming meme coins. So funny I was looking. Tron is probably the the strongest L1 at the moment, which isn't Bitcoin. Obviously that's making a ton of money too, and we've spoken
about that several times. Wow, wow, wow, wow, wow. Look, that's carnage. Carnage, carnage. Carnage and the odds Carnage. Yeah, it's definitely weak, definitely weak out there. I think a lot of people are just like, well, if this is going to be a six month chop, I don't want to own anything but Bitcoin you. See this thing? Where is it? I continue to like the revenue reducing. Oh, see this, it's, it's, it's, that's just the general sense of
stuff. So Bitcoin dominance, Bitcoin dominance just doesn't look like it's being questioned. No, it's. Maybe a point of resistance here? The like to get above 62 but. But it's what's this wig here? This is so nuts. Look at this this. Wig. That was when Eve went down to 2000. It was the flash. OK, wow, what a let's look at total 3 chart real quick, which is Bitcoin total three. If there's a noise every it's a it's the crypto total market cap excluding Ethereum and and bitcoins.
It's the altcoin chart. And Solana, right? Close and so right or is it OK? And so, yeah. Yeah, that's total three. That's total 2. Yeah, total three. Yeah, total three. Yeah, sorry. And Solana. So this is what it's at. Wow. Yeah. And that doesn't look terrible to me. Doesn't look terrible. It could look bottomed out to me, but I hate calling bottoms, you know what I mean? Like, it's like a dangerous
thing to do here. We just look at all charts and are bullish though guys, that's the thing. And I I can we pull up. Some bullish charts please for. What? What? What bull? I mean, yeah, I could. Pull you a Bob chart. Here I'll pull you a bullish chart. Yeah, Bitcoin looks OK. I'll pull you the most bullish chart in crypto, literally. So this is the range that you know, this is the infamous range that we're in. We're literally halfway.
We're in mid range right now. This is a bullish chart. You want to buy the bullish chart? Pull up the fucking bear chain chart. Bring up Bitcoin dominance. That's a bullish. Chart You want a bullish chart? Here's your bullish chart. JLP. Is JLP bullish chart? Always let. Me see? Oh it's a 44% APY D. Jens are gambling dude. I love it. You guys should have used perfs on J on Jupiter. JLP is on is on trading view by the way, if you want to find it. Oh, it's true.
Why do I always go there to look? I don't know, I guess because on the main website here it is a bullish. I mean, yeah, this is a bullish chart. Here you go, bullish chart this SPXSNP chart. That's good. That's good. What else? What? What bullish chart do you want me to pull up? I'm I'm. If you want. Yeah, I'm sticking to BTCD. It's just for the look of it. So we had Bob Lucas share. Give us some hope in this. This morning he said that he
thinks. Mike Quant. Quant will continue to range chop down, probably see like 88 over the next three weeks before resuming a leg up. We're getting there, dude. So we'll, we'll see. He, he lays out a couple paths. Basically one will reach up, up and one will reach up, down. I feel like consensus is definitely that we chop down. Consensus is definitely that we worked out. Everybody wants that. Apparently everyone in the timeline just wants Max Payne.
One my meme coin tweet. You'll never find a group of people who want to see an entire sector go to 0 like like you do in crypt. What so which tweet is this? Because I, I got your notifications on dude, but you, you do tweet a lot. So I'm trying to find. There it is. The next one, yeah. D $44 billion. That's why people are not happy on the timeline. People are like, oh, bitcoin's up like why is nobody happy dude? This is why, like, everybody's in this.
Half of my comments are send it all to 0. It's like, OK, like you want Dogecoin to go to 0 like you want Pepe to go to 0 like. Yeah, I agree. I I, I could agree with that. Fuck this guy does make a good point though. I. Didn't see any upnl screenshots for the most part. Dude just go ask watch King if he had his best month or not and he'll tell you he had his best month in business. Watching UPNL, that's people who sold and then took their cash into watches well. What does that mean?
Right, I don't. Isn't that a top say that you think? Yeah, anyways, clearly it's it's down a lot from from top. Pull us back to Bitcoin. We got some breaking news. Brooke. I sent you a couple links. Did we? So this morning we saw that Trump media had filed trademarks for these for these ETS, Bitcoin Plus Made in America.
But now there's more information, it looks like they are actually plan like have plans to launch these, which I think is the logical conclusion, but we have that next detail. So a made in America ETF, Bitcoin plus and then US energy independence. I don't what is an SMA? I'm not actually familiar with that. Oh, separately managed accounts. Yeah, I'm not, I don't know what that is. I'm curious what Bitcoin plus is. Is it Bitcoin plus ETH?
I think it's Biz Plus Plus Made in America and I don't know if. Interesting. Isn't it Bitcoin Trump to actually get into the ETF game? Yeah, bro, did you see here Tyler summed it up this morning. Hold on, let me get it to you. But it's it was an interesting announcement that came out this morning again on the bullish headlines, right?
But it's basically this. The registered trademarks compromised comprised with the following Truth .5 Made in America ETF, Truth .5 Made in America SMA, Truth .5 US Energy Independence ETF, Truth .5 US Energy Independence SMA, Truth .5 Bitcoin Plus ETF, and Truth .5 Bitcoin plus SMA. That was all breaking news this morning. So looks like Donald Trump's launching meme coins. I'm sorry ETF, I have meme coins in my head. But he did that too, so. And he did that.
Sorry, he already did that. That part I. Know it's the big one like if you look at coin market cap they're made in USA sector as XRP Seoul USDC doge. USD is going to $5. I think sweet Avax interesting they don't have Trump on here. If Doge is on there, I think Trump's going to be in. There, can we bring up cookie dough fun? No. Trump's here. Trump's here, Trump's here. 34 on Made in America. I don't want to bring up cookie dot phone. Yes.
Like why do we have to do that? I want to have a look at like what we actually think about this sector right now. No, it's good. We were covering it a lot. We should talk about it. I mean it all went. I just want to put it, put it out there. It all went downhill when mother fuckers started calling it D5. Yeah. That was the absolute generational top of AI coins when you all started using the
word default. Look at the seven day on some of these man like these are you couldn't like you couldn't get some of these coins fast enough about a month ago. Wow. It's a lot like, I'll admit, like I I called my thought was the the capitulation event on Saturday. It looked, it looked like capitulation. Saturday, Tyler. Now they're all lower, yeah. Extended the The market will not rebound until Bernie's back from Mr. Cruz. I think there. Wasn't 60% in a week?
Pardon me having. Who It's like 50 to 60% in a week on top of that kind of happening the week before. I mean like the bully, the bully token peaked at 250 million or something. It's at 8. Like we're not talking about 80 or 90% like we're we're talking about like. 90 it's at 6 now actually. Wow. And they've got that's supposed to roll out. I think they they missed their deadline on it. Wow, I mean this is the saddest chart looking indexer you've ever built.
Even the people who thought that there was a somewhat popular take that people called a top and said all the vapor Ware stuff is going to go down to 0 and then we're going to see the true projects emerge. But even that's wrong because like nothing is emerging. Like everything is just decimated at this. Point How wild is it that Toshi is now the third biggest AI coin? Yeah. I mean, it's not an AI coin, I know. But how wild is that? Where's Toshi at? Toshi's at 342 million.
Wow. It's virtual. This isn't current market cap, right? So it's virtual FARC coin at 4:40, then Toshi, then Fraser, which is that weird coin that like no one really knows. No, no, not a single person owns that coin. Wow. I'm not giving up it it feel, but I will say like it's never felt more over than it is real. Like it feels like this is like actually going to 0. That's my feeling. Yeah. It's like this sector is over if I'm being like objective like
that is what it feels like. I have not cut bait. I still have MY16Z position, I have my arc position. Both are down. Wow. Parkour is separate. I don't really, although it's in here. I I think it is its own thing. Well. It's hard to see like what is the next catalyst, but it's always hard to see that at the bottom. You need proper capital injection like this. Yeah, yeah. All right. Well, just hang tight, you know?
Maybe Trump will. Maybe Trump will launch a Made in America AI. We need it. It's our whole way out. Donald Trump, if you listen to this show, this just doesn't. This just doesn't. Remind me of the last, even the top of the last cycle, right? Like these things bleed out over a much longer time period than than what they just did, right? Like that's a wild move.
That is a wild move. It again, I think just talk speaks to Solana and the fact that most of these coins to 1% liquidity pools aren't listed on exchanges. So like when people want to exit and the one exit varies from coins at the same it's. Tough. It's just a. It's just a BLOB off I. Mean. There's a reason why point like. We spoke about AI16Z earlier this week. It's like, oh, you know, strength to strength on the tech
side. I know obviously there's been some flood around shore, but that's been fun for a while. Like that's not new. Yeah. And and then and and it's gone another 2030% lower than that. Yeah, this is just all. Yeah. I mean, the meme's gone, you know, nobody's hosting talk about AI anymore. But but The thing is like AI is not going away. AI is not going away. But then if you're talking about utility, like none of these things actually do anything. They do it's.
Like what? Like. You guys still don't use Griffin or ARC protocols or products? Because they're in the early stages. As long as you 2 are not using these products, I'm going to keep saying that the utility is nowhere.
That's fair. I think AI16Z and arc are basically that they're they show that they were meant to be like launch pads, which to be fair, like arc has has gone down the route of and AI16Z is yeah, waiting to build this, this Asian platform Griffane. I, I always felt like that with the, with the copilot stuff in that it felt like that felt too early for me. And I, I, I never really had a
big because like. Unless they're able to build incredible brand strength, it does feel as though it's a little bit early to have like the. Same Co. Pilot on for crypto, but but yeah, this stuff. It's actually nasty, dude. There's no way that I'm trying to find a bowl case here, boys. I'm I'm. I'm AIX PT. Is it 250 now? That was still brilliant. Yeah, I mean, we have beef with them now. So I'll bite my tongue. I'll set this conversation up. Virtuals. No What?
We got beef. Suddenly everyone cares about the revenue of virtuals. We got beef with AIBT. I'm just saying we got beef with them. He's trying to fuck with Tyler and see what? Happens. That's true recently. Yeah, dude, he fucked with Tyler. It's been down only since he fucked with Tyler. You can bite your tongue. I don't have to bite mine. I got you. Well, also we, I mean, I think I said on the show at one point that or we did the AI XPT is kind of like the mascot of the AI sector.
Yeah, it's true. It's fitting that it's down 70% because the whole sector is down. So no, this is true. This is a fair, this is a fair take. You brought another one up, Tyler Manager now before virtuals, Yeah, everyone's looking fine at the that. The thing's making like $12.00 a day bro. Waiting for that tweet. Yeah, it's funny because again, like what I was saying is like the meme grew faster than the tech, the utility. So it was memetic values that we were assorting to those to those
tokens like zero bro at 700 mil. That was a memetic value of 0 bro, not the actual value of 0 bro. And now it's funny on the way down Mendo, you think about, oh, but the tech is not it's funny, right? And that's a meme too, right? Like I'm here like, oh, you guys not using it, but who gives a fuck? Like I never used any of the coins I bought.
I'm in more of the Titus camp though, like the the Tam slash the the ability for these coins to have real utility seems way higher than than most of the old coins to me. Yeah, genuinely most of the old. Coins Anon beta tomorrow Looks like Anon like. 0 Pro is more of like, yeah, it's more of a meme style coin, right? Like it's more of a culture, let's say style coin. But I do think like AI16Z even AISPT right? I know we have beef but like it has options with this mind share arc as well.
Those ones have really surprised me about how weak they are. Like AICCC is down the most out of all the and it's like it's not like it's done. It's not like it's a shit like complete shit coin in my opinion. But I agree, I don't think it's a complete trick one either. I like. I like we. Said like it's two, it's 270,000,000 like.
You're trying to. Compare that events, other altcoins and you're trying to, it has like the most shared open source protocol in crypto, quite a few different avenues with it. So basically try and monetize that and it's trading at 270. You're talking about what AI 16 here? Yeah. It's that 2 cent, Yeah, I mean, that's one where at these prices even I'm like, wow, after you what you guys said about the protocols and the GitHub and everything like this is where like I can dunk on it 700 mil,
but 200 million I'm like wow, that's crazy. 1:50 I might have to try to unload like. I I wouldn't blame you. I just you know what like I even just saw I was just browsing Twitter as he was talking like I just saw this tweet from Ponzi trader. He's like the market has not provided a reason to long any assets, specifically altcoins. Don't try to knife catch LARP. Tech it's. Fair. I I I are you guys trying on knife catch? I don't think you are right. Hey I. I did on Ark a handful of times.
And you were right until you were wrong. But I don't know why you're wrong. Like I actually agree with your knife catch on Ark and you know what I mean? Like I don't even understand. Like you and Ovi were like going at it right? Like, but like bit for bit. It's interesting, man. It's it's an interesting part of the market and it's fair to say that almost everybody who's new to the space probably is down now because a lot of people got into the AI trade and they're
probably down. It reminds me of what is it Remind when did people come in new when newcomers came into to to NFTS, at some point they were all down. What was it? Q 421 or something? Was it? There was a period, man that remember like everybody who bought NFT was probably down. So we've been comparing these meme coins in AI to NFT. So therefore we have to compare them the way down to NFTS too.
So that was kind of there like this inflection point where if you bought any of the top NFT collections. But board apes stayed above 100K for a long long. Time. Yeah, it lasts way longer. But but. Even the collapse of it took ages. But we knew this, right? Like meme coins don't last. Like we knew meme coins are not NFTS. Like you're talking about meme coins on Solana blockchain where people get out in the second and don't give a fuck about their back.
Like we we know this, right? Like this is the risk of meme coins for seven FT communities, right? Like at least NFT communities believed in something like that. Murat thesis actually fits much better in NFTS than it does in meme coins, right? Because you're attached to your PFP or your identity, right? There is no identity behind meme coins. Yeah, look, I'm not saying that. I'm just, I'm shocked by this, that yeah. It's shocking. 80 to 90% in in weeks.
Not in, not in, not in months. Yeah. All coming I I'm not seeing anyone flashing their shorts that they made. I don't think anyone's flat shorted I I think everybody missed the short as well. But I know we want to get to bread guy. There's a couple of headlines. I know I don't need to go through my full one if you don't want, I can just. Let's go. Let's go through your headlines. I'll bring bread guy up still regardless because he's in the studio with us. So what up bread guy?
I'll bring you up. But let's, let's, let's, let's do the let's, let's do the Tyler's topics. At least go through them T and crypto analysis Tyler T on FOMO our cause the kids. Can a lot of top stories. Let's start with the FDIC planning to revise crypto guidelines for banks, allowing them to conduct activities in this sector without regulatory permission, while also revealing documents showcasing and confirming that yes, Operation Choke point 2.0 was a very real thing.
We saw Masari report that highlighted salons explosive Q4 and rapid growth. Call it the best. Is it the best quarter of all time? It looked. Very. Paper though, will they be able to maintain that for Q1? Still up for debate, Sailor MicroStrategy rebrands to just strategy. They also launched that Stark STRK convertible preferred stock on the New York Stock Exchange here today. So couple big days for them. The SC, the SEC reassigned their top crypto litigator to their IT
department. So that was a funny headline. That's hilarious. Stripe acquired a stablecoin platform Bridge Platform Bridge for $1.1 billion, its largest crypto acquisition to date. We saw BlackRock announced the launch of a Bitcoin ETP in Europe. The CFTC is going to review their regulatory approach to prediction markets in coming weeks. Love to see that and the breaking news morning Trump media filing trademarks for Made in America ETF, Bitcoin ETF and
more. It looks like those are indeed coming, folks. Bear Chain is live. They released their tokenomics and AirDrop checker yesterday. Mainnet has launched, it's trading at $10 right now, which is right around 5 billion, so pretty strong start. We have Ondo Finance. They launched the Ondo Global Markets, their new tokenization platform for U.S. Securities. So this tokenization for U.S. Securities like stocks and bonds is absolutely coming. We'll talk about with bread here in a minute.
They announced a vote for their NFT distribution, either first come, first serve or random RNG. So if you've got a horse in that race, maybe go vote. Let's see AI, we already talked about it. It's down, down only parallel digit era major update. So if you're in the parallel prime ecosystem, go check that out. They talked about a mobile app, the colony game and wave Finder. They teased Q3Q4 for new game releases. Prompt still expected Q1, so hopefully later Q1, maybe once
the AI has rebounded. Please. NFTS Let's see, Jupiter's X account was hacked briefly had a meme ticker display. Dude, and it was the IT went for a bit like they hosted a space as as well. I thought that hack was, I hate to say that I thought that was a funny one. I didn't just like, drop something, but yeah. It was like smart enough. Did you really think that that was?
No, not, not one bit of me. I I actually saw some smart people fall for this and I was a little surprised, especially given like where you are in the space. So I think, I think, I think it was quite obvious, but I'm mostly like kind of appalled by the lack of security on some of these big protocols. I love Jupiter, I'm a fan.
But you know what, if you have a certain audience and you're like also one of the largest protocols or decks or aggregators or products in all of crypto, Like, you know, unless this was inside job, which I don't think it was, but yeah, yeah, it's pretty bad. It's pretty bad dude. Not great. But. That that was the round up. Natural selection, Natural selection, Tyler just more natural selection. Indeed. Yeah, hate to see it. I love the FDIC news. We've been talking about this.
It's just reinforces that the banks are absolutely coming into crypto and it seems like it's going to happen soon, sooner than later. It's happening at the speed of light right now. What was you want to double down the headline? Let's go through that. Maybe the the Perisher Market 1 was pretty good and let's get
right into the mega use stuff. Yeah, so the FDIC, they plan to revise bank guidelines for crypto, even to allow banks to embark on some crypto activities without getting regulatory permission first. It looks like some banks have already been in conversation with government officials. They are pushing to offer custody of, of crypto assets along with tokenized deposits that could put some checking
accounts on blockchains. So that that is an incredibly, the custody piece is still like the one I've been focused on just because of the massive capital unlock That would be, I actually hadn't even started wrapping my head around tokenized checking accounts on blockchains. So there's even more to unpack there, but tremendous progress. And it really feels like the progress is accelerating. Like maybe like, are we going to see this in H1? Like would you bet on H1 before the end of June?
I don't know how fast this stuff moves. What do you think? Wendo? I I really don't know. It's not my. Organization it, it feels like weirdly Defy has become one of the stronger sectors during this sell off. Like people are looking at it through it and being like, well, that's where we'll might see more headlines over the next few months. It's like where you're going to get all the real adoption right in Defy like and stuff like
that. So it's it's becoming very real again, it seems on that front, right, Because you have Larry Fink talking about tokenizing bonds and stocks. I just, I continue to think that these trap by companies will do it themselves like we don't, they don't need us to be able to do this so. Meaning they won't use our Korean block chains. Is that what you're saying? No, I just don't think they'll that they need us for to actually do the tokenization. So there's some like RWA coins
like Hondo and a few others. I don't know. My my general sense is is deltas do it themselves. OK. That's the RWA piece. I think the I was more just referring to the, the custom crypto within banks. Yeah, which I think I, I feel like that. I don't know if it's H1, I think it'll be 2025. Yeah, it's, it's definitely I, I think, yeah, I Yeah. So I'm just looking at the state of the market. I think that I just can't, I, there's no Peace of Mind. But things that were nearly
close to the top anyways. I see, I see people in the common sense. Everybody's got, everybody's got to, got to, got to, got to freshen up here. All right, Reboot, you know, it's a bull market. It's normal bull market shit. Vaporware is getting erased off the market. It's probably a good thing. We absolutely love to see that. And we got bread guy on the show. Come on. And we got bread guy on the show. Let's get this energy going. I mean, bread guy.
What's up, dude? I think it's your first time coming on here. How you doing? What's up, buddies? Yeah, you actually guys, you inspired me to go back and check some some message timing. So I see obese had a really big Aix BT trade, right? He crushed it, right? Ran it up. I didn't realize how far down it was. I and I remember him bull posting it a little bit about a month ago and I went back and after he did that, I sent him a message like, bro, sell some coins.
You got to trim coins right now. You have too much money on chain. And I'd literally I top ticked the thing that message to him on Telegram was 4:00 AM the like pico pico pico high. And he like you know, he used to respond. He said he trimmed it a little bit. But yeah, man, like been there. Round tripping is part of the game for everyone. Where? Did I get tripping? Well we round tripped friends together as well as puffs. It's trauma bonding that's that's the PMF of this entire
space is trauma. Bonding. With friends, yeah. Yeah, it's about the friends you made along the way, right? We had. Quite a pups bag. We had quite the pups roller coaster. I mean, I'm, I'm part of that. One the hold now. What's that hold now? Should we check what's pups? Bag 35. Million mil. And 34 mil at least. That fucking dog token is 300 million. You know like at least docked the moon's 300 million.
Like pops holders couldn't RSI see $17 million I think Ruins the $2000 in volume yesterday total. That's what I was about to say. It's like, oh, like whatever the market cap is doesn't matter because it takes like an hour to move at all because like the volume is so low. It's just like it's down. The men pool's empty. Like no one's using this shit. Bro, this is so wild, but this
is this is all really good. Listen, Breg guy, you've been, you've been busy, it seems you've been busy with Mega ETH. You guys made a kind of a monster announcement the other day, which was really good. I personally like really like, I really like the way you guys are approaching things. She sent it to logs internally and I saw Kobe was supporting. Of course, Mega ETH was like, what? Like a record-breaking like raise on Echo or something like this? Like what, $10 million in what,
3 minutes? Yeah, something like that. It was in two tranches. So it like that kind of skews thing. It's like we opened it up at I think we did 6 mill that immediately went away and like, all right, Jack it out. Like if people want it, we'll we're willing to go higher. And then we we went for record numbers and it's smart. I love that. So why don't you just maybe like give the people a little intro like like what Mega Ether is and then Tyler let you like lead
this? I'm like, I know we want to wear the whitelist stuff, but like what? What Mega ether is just for the people who don't know? It's it's Ethereum's answer to Solana. It's probably the best way to do it right without getting too
nerdy, right? Like. Yeah. Yeah, I mean, honestly, so like there we like we've made some very opinionated design decision, our design choices so that our specific L2, we are an L2 on top of Ethereum, but it's a different flavor of L2 is able to unlock a higher level of performance than all the other L twos, namely like base arbitrage, whatever by orders of
magnitude, right. Just to give figures people are familiar with, right, you have 200 TPS total across all of the roll ups, across every one of them. So if you combine arbitrum, bass, optimism, world change, all these things are about 200 TPS. We're shooting for 100,000, right? Because of some of the design decisions we made. At least we see the market, right? You see what's what Solana's doing, you see what hyper
Liquid's doing, right? Maybe people over indexed a little bit on like maximally super ultra slow, secure, decentralized, whatever. And there's a clear demand for on chain good UX that is on par with web two. We're pushing for that. So what like so what'll be on mega ETH? Like will it be the same things that we're doing on ETH but it'll just be easier and faster? Like what is the vision? Yeah.
All right. There's two things to SO no, first of all, like we're not pushing for the 55th fork of whatever. That's just faster. We have it one unique unlock that is like the responsiveness. The tagline is real time, real time chain, blockchain, whatever that is because of the design decision we lead into to say like, hey, we're going to like really lean into this. And you basically have that sequencer that everyone fuds, right? They're like, oh, we needed to
centralized this thing. It's big, it's scary, it's whatever. It's not really that much different than Hyper Liquid having 4 validators, which everyone fucking loves. We just said, OK, well, if we're going to do this, this sequencer like own it, let's just make it the biggest, baddest MFR you've ever seen in your life, right? So now we got some chads from from Web 2 fuck up data centers. They're here to say, all right, we're going to make this thing
awesome. And the thing that it unlocks is the real time element of blockchain or real time element of what blockchains could be, right? So what that means is the responsiveness and how fast your shit lands on chain, right? So even with Solano, you have about a four like half a second delay to where it like it actually ends up on chain. We can get that down to to 100 milliseconds, right? Like down to like real time instant web 2 interactions, right?
Discord Discord messages are about 200 milliseconds, right? Telegrams in that same range. All payments are like 300 seconds. That's like when it's instantaneous to you as a human. So that's that's the threshold that we can do because we're not an L1 right? Because we're not decentralized. Solana can only get down to like 200 and 5300 milliseconds. Ethereum's never going to get below 12 seconds, right? Monad's aiming for one second. We're aiming for like making blocks under 10 milliseconds.
It's just super fucking fast, frankly. So that unlocks the maps right? So like that means you can have applications that are really responsive. We're not, we're not trying to just again have a, the 55th fork of uni swap that's just a little faster. So we've incubated, we have it's an accelerator of like 15 teams that we've been living with our Co living with like 30 days at a
time. Did it in Berlin, did it in Chiang Mai and they, they understood the tech and they're building applications that is uniquely enabled by the tech. Like euphoria is a good example. Euphoria is an application that's, that's like perpetrating, but it's they're, they're calling it tap trading. So it's like a Robin Hood style spin on perp trading where literally as you tap, like you get the whole confetti, it's immediately on chain.
Like it's a, it's a trade in real time instead of like having to wait a little bit for the thing to land. And you have games like AW, he's actually the founder of of on cyber. He's, he's building on our chain with a bunch of again, these other 15 people teams and he's making a real time, like an engine that you can actually do on time on chain assets are real time generated inside of his,
his world, right? So like you can be in an environment walking around chilling, doing shit and like pump fun coins are coming in from the ceiling with a size based on your market cap. And if you bump into them, you buy $10 worth of that coin, right? And you can play, play games around that shit, right, because it's responsive enough that you can actually have that interactive stuff with real time shit.
And then because we're, we're growing them all together, there's like again, 1517 teams, they're all Co building, right? And they got some camaraderie among each other. So like our perps decks plugs into our, our gaming engine, plugs into our lending protocol, plugs into our, you know, whatever. So they're all native. Our applications building together kind of want to make each other better and then uplift each other through like integration with each other. So it's like a interwoven
ecosystem. It's a cool vision for sure. And I think like I, I will use Solana these days because of the speed and use experience, but I'm also not like I'm not married to Solana. So like if I can find that training experience elsewhere and there's enough to do, like I'm happy to go there as well. And I feel like most people are generally in that camp. Yeah. Why do you think? That Evan Solana, that's something that's that's a good question because I think.
That's $100 billion question. Yeah, so that's, so that was what I was just talking about, the real time responsiveness again, if I could think about the constructions of L ones versus L twos, right. And L1 has to come to consensus, right? It has to have a bunch of notes, Solana even, right? It's very, very fast, It's very performant, still has to come to consensus, right.
You put your transaction on chain, there's a little bit of lag time between all the nodes agreeing on that thing being true, that being able to be ingested into an application like things have to agree on stuff. And that takes time at least as fast, as slow as the speed of light to travel amongst random nodes to agree on ship. Like for Solana, that's 300 milliseconds, right?
400 milliseconds, right round trip around the world for these for these boxes to agree on ship, we don't have to do that because we don't have to do that. It's just the distance from you to the box and then it's on chain. So again, Solana hyper liquid, hyper liquid is going to be an L1, any L1, because they have consensus can only shrink this window down to that 400 millisecond ish window, right? And that that is above the perception of instantaneous real time.
Real time is that like 100 millisecond window? Because we're in L2 and we're saying we'll fuck that, right? Like Etherium does. The consensus. Etherium is decentralized. Etherium has all this shit. We're a big box on top of it. We'll create this experience. We can shrink that window from that threshold that they're at down to, again, we're making blocks. In 10 milliseconds, we'll have 100 blocks produced per second. That's faster than some chains will have transactions per
second. So like the the rate at which we can produce this on chain stuff is not replicable as an L1. It's just not so like that's the difference. And if you can create a an application that exists in that vertical and it's different, that is the only possible on or on an L2, but specifically for us because we're also in performing on top of that. So what would be the high performance apps that you would want to to would really thrive, let's say in that sort of environment?
Combination of like wacky shit and then like the typical stuff again, like there's there's the stuff that's like I just talked about the tap trading right, like you literally you literally cannot replicate it. Well, you can't it's just not a good experience, right. You tap a screen and you have to wait half a second or a second or two seconds for that thing to be real. You cannot produce the like confetti blowing experience right.
You literally can't do it. The guy who's creating this app is he's an X like MEP searcher, right? Like he's he's this guy gig of brain back and stuff. He's like, I just want to create a weird, wacky fun trading experience. So he's just like, now you have like a Robin Hood style app, you tap your screen, it's gamified. So it's confetti, but it's instantaneous because we can do that, right? Because you can tap and it's instantaneously on, on, on Jane. Like that cannot be replicated
elsewhere. Not in the same way. Now without like it not being final, we can say it's final. So like there's that element of it, but then there's also the weird wacky shit that's like deep in style stuff. Like we have some, some teams that are literally like you walking around and you, you take pictures of like monuments and
shit. They have the ability to like go and like they're making people do this and saying, if you can trick these people into taking pictures a certain way, we can turn that thing into a 3D object and then make that 3D object that's usable inside of our, our world engine that's being spun up by beyond cyber guys. So like, it's really just like finding people that can create things on chain that are like unbounded because of some of the trade-offs that we make and then
letting those flourish. So combination of stuff that the typical stuff that can just be a little more weird and then just weird things that just weren't possible on chain before. I think you did a nice job buying out the vision. Yeah. And everyone's, you know, our audience definitely wants to know, right? All right, so how can I make money off of this? Right you. Guys are the biggest. Of course. NFT I've been screaming, I've been screaming the tech for for months and everyone's like OK,
whatever. And no one cares. No one. Blast, we blast on through the the mindshare chart now where everyone's talking about us, I guess. Absolutely nobody gives a shit on unless they can make it to your whitelist. Not just you, It's for anyone, even what we're doing. Yeah, yeah. The second you talk about, hey, we've been building this British market for eight months, hey, guess what, we're adopting Myriad's token from the foundation. You know, it's just name of the
game. So tell us more about this. This thing I saw, I was, I think I'm in, think the boys were in. I think 80 other thousand people are in. So this is not an insider cabal thing. Don't worry, there's 80,000 people on this fucking list. Or addresses that is. That's a little. Yeah, yeah. So that's a little that's a little intimidating. I've like, we fucked up the messaging. There's just a lot of words there instead of like clear, concise. Learn that, learn that. This.
Is a really big positive. I think the messaging was just long for the average decent doesn't read, but if you dig into it, it's very interesting concept. Yeah. So like it all, it all stems from the ethos of like trying to return to the days of old, right? Like making sure people who want to be able to get invested in these ecosystems and own a part of the network are able to do it early and on the same terms as people that traditionally would be private market, right.
So, right, the team has deliberately since day one off shot or like or put off raising, right. They there is 20 million total to get off the ground. The project's been going for three years, but they raised 20 million from Italic Lubin, like Dragonfly, whatever that got them going. The next thing we raised was 10 million from the Echo round. That was 3400 people from on chain. When we did that, we said like
guys, this isn't we're not done. We're looking for other mechanisms to allow for people to be able to get exposure to us if they want it. And we're going to look for on chain native ways to do it, right. So we did echo, knowing echo is not perfect, right? I'm AUS citizen, I couldn't even participate in that right? If you don't meet the right criteria, if you're not signed up like it's just not awesome. So we know we have to deploy this in a couple of different ways.
Again, we could have raised $100 million from a bunch of VCs, but we think the, the, the love of the game has been lost a little bit. And the way to build a true community. If you're trying to like spawn an ecosystem, you have to align incentives through straight up wealth generation, right? That, that is something that's very, very sticky, right? If we can, if we can give people good exposure to the stuff, not let it be captured in the private market, then we can do that.
So this was the second installment of like a tactic for doing that. We're, we did whatever we could. I, I couldn't even participate because I'm AUS citizen, but like, the team did whatever they could to make this explicit, right? Like it could have been a bear chain thing, right? Oh, we're doing some NFTS. Three years later, you still don't know what the fuck you're getting and you're still gambling on it. We in here said straight up these at a minimum are going to
represent 5% of the network. Right. Wow. So it's 5% at minimum, right, At minimum, at minimum. So it's it's yeah. So the that's the thing, right. So it's five, it's 10,000 a PS for 5% at minimum of the network with the ability to dynamically increase, right. So again, we haven't released the details on that, but you can do it And then they come. It's it's similar to our echo terms, right? That comes with vesting whatever, but we include in here
KPI vesting, right. So if you do certain things over the next X amount of months then the IT accelerates the unlock. So it's 50% at TGE, but it can be potentially more based on like your contributions this. Is great. I love this. TBD on it, right, like where we can't release everything, but we will have stuff and then we're doing it in two tranches, right? So 10,000 total, right?
It's so it's like that's like $30 million at current ETH price because it's one ETH per, but we're doing it in two tranches. We don't have the fucking chain yet. We have a test Nets coming at the end of the month. Are, you know, 30 days ish, like, you know, whatever. So we can't do anything to say like, oh, you've been a big user, You've been like, we don't have that right. So this 1st 5000 is, is retroactive.
We looked for people throughout the ecosystem that did things, displayed stuff that we thought were valuable to the ecosystem, whether it was a you, you're a big Pendle fly user, you're an owner of a couple NFTS, you attended some of our events. You like our spaces host, like I reached out to like the team reached out to a bunch of people to make sure that like you guys have been contributing, people have been contributing, right? We want to make sure those people and artists like
whatever. So those people are involved, right? They have the ability and that's, that was the original 80K list, right? So that is not the fact that who is going to be minting. That's just who's eligible to register to do whatever, right? So the actual number who can actually mint are the ones who then like take their emails or like like, I think they did like all the Ogs from like Solana, right? So like there's a lot of people that just straight up aren't
going to check. They'll come in, they can register their address, that will put them on the list, and then that will will. We're then working on it like we're afraid of a gas war. We don't. We don't want that. That's a bad experience. Yeah, that was going to ask like yo, OK. Yeah, like to be honest, like we thought this would be well received. We didn't think it would be as well received as it was, especially around the Baromet
and stuff. Like we kind of acknowledged that and it turned out it was really well as chiefs, like, OK, now we got to make sure we don't. We don't, Yeah, there you go. We have to make sure we don't, don't we do a gas war right 'cause that like effectively raises the valuation of what you're actually getting. So what all this just say is like we're iterating right now on the back end to see what we can do to mitigate that. We're going to try to, we have two waves, right?
The first day is like guaranteed and free mints for people who've been like strong supporters, all that shit. And then the second one is just a first come, first serve. You know, again, we're playing with it. We have a vote open right now to make sure. Yeah, I voted RNG. Yeah, like and it's a combination of stuff. So like one like people are
going to register. So I encourage everyone if you are check your wallets like we put out a post yesterday on the main account if you go. To the so you do this like you just and you make sure you're in or something. Yeah, like choose your wallet. Like I just go register one for fantasy, one for friend tech. Yeah, that makes you quick. So like, I'm in, log in and delegate. Yeah, the verbiage is sucks. It sucks, dude, I had to work that shit so much. But yeah, do that all the time.
So people know like see my wallet was eligible. So you probably like there's 80,000 people eligible like this. Yes, make sure you do the rest like what I just I'm about to do now to delegate and everything. OK, Yeah. And we're seeing that stuff on the back end that like, yeah, some people are coming to the screen and seeing that, like not realizing they have to do that. So we're going to update verbiage, put out copy, make sure people do that so that we can do that.
But yeah, so we're going to try to get a subset of of wallets that actually register, get an RNG from that subset, let them mint, try to do it as in as least a rush as possible. If we can just like push people into the guarantee day, you know, up up that a little bit so they can still pay, but it's not a rush. And then do like a smaller first come, first serve. We're, we're iterating, but we'll have news coming out on that.
But that's the goal, right? So that's this whole thing is just to allow people to participate. First 5K is based on retroactive stuff. We have another 5K coming in a couple of months. The second-half of the collection that will be purely proactive activity, right? So like we'll have a chain live, we'll have socials up. We'll like we'll be able to do things to identify people that are contributing proactively. And that's what that'll be for to widen that.
And then not, not, not done. We're trying to find ways to do this stuff of. Course no, it's awesome. So I just did the thing. It says congratulations Megamind. So just for the people like make sure you go through the process and then once you get the congratulations Megamind message, I'm assuming this is when you're done and you're good. So OK, this is great, This is exciting, but I guess like when the shit launches, I mean you're welcome to come back on and do
all this stuff. So that was exciting. Unless Tyler reminded you have any other questions but. See what love have you guys been doing? You know, appreciate you kind of I didn't. I didn't know exactly what mega youth was. I'll be honest so I have a much better understanding. Yeah, this is great. Like short suite, we kind of got the gist of it, you know, from the more DJ and like we don't have to get too techy, nerdy and stuff. Like people can go read the dogs for that.
Like I think this was great. We'll clip it, post it across and and and make sure we get that on the timeline. Brad Guy, thank you for coming. Sit tight because you might be our lucky charm today.