HandyCon 2024 | Day 3 - Warp Speed: Taking HNS Liquidity Into Hyperdrive - YouTube
https://www.youtube.com/watch?v=tWzpFAAWj2w

Transcript:
(00:03) [Music] [Music] all right everybody's quick on the trick here and we are two more sessions for today this one I'm excited about warp speed taking H&S talking H&S liquidity um I think JJ is still getting some technical setup and and uh but we wanted to get it started in the meantime so check how you doing you had fun it was fun the auction huh yeah the auction was good um we sold a lot of domains and I think the market for it right now is pretty good for um people
(01:12) buying into the auction because it's at a discount right now I think that next yeah I think that once we do it again next year things are going to be a little bit different the Market's going to be prime prime heated up we're just warming up right now even related even related to this session is liquidity you know some people sometimes we have to help people in the auction that are new to H&S to get to get the coin because they don't know how or can't find how to get the coin um so that is a
(01:45) uh that is um something we're trying to solve I'm excited about warp warp here um do you wanna while we wait for J do you want to give us some highlights yeah so it seems like JJ's having some technical issues it wasn't just me yesterday uh wasn't just the girls having some problems connecting XY chromosomes not immune to it either but anyway so yeah the the subject at hand is um warp speed is because you know Joseph JJ and the crew are coming back at it this Market to build something else that's very exciting it's
(02:34) going to be a decentralized exchange it's not an amm but it's an actual limit order book on chain that's going to bring um Bitcoin natively and all the utxo chains that are powered by proof of work um such as like Bitcoin likecoin bch uh H&S Dogecoin um those things natively into the evm ecosystem and so that re to to be able to do that requires a decentralized exchange that has specialized functionality that you know I am not technical enough to get into but JJ would be able to answer these questions about why um there they
(03:21) need a specialized Dex just to uh enable the transfer of these native Bitcoin assets directly on chain so without any centralized bridging um and without like without doing uh like a you know um it it's it's it's going to be one of those over collateralized Solutions I'll just say that so this is yeah this is like a breakthrough um it's it's really exciting so I'm really excited to be able to talk about this with JJ it's great yeah I know we we saw it was maybe last year saw there was a
(04:05) presentation at a a conference where I think Joseph I think presented it and JJ was there too I saw a video it was exciting so yeah the idea is yeah proof of work decentralized exchange which is awesome yeah I think my technical understanding understand the best thing that we have in Cosmos is thorchain and um nomic and I think babylon's trying to do something like that too similarly except they're not they're not really doing bridging it's more like they're um they're like checkpointing onto Bitcoin
(04:49) so babylon's effectively kind of this middle layer that's turning Cosmos app chains into like layer threes on top of Bitcoin and a sort of sort of but then nothing really nothing there's nothing that exists currently that allows you to bridge the Bitcoin chain directly to another chain without some intermediary blockchain that AR orchestrates and stuff so it's that yeah got it yeah really exciting so if there's some way I can help with the with this technical thing but uh or trying to think of some some other
(05:35) technical solution to the to having him share today um there's some questions coming in from people um I don't know if we want this yeah Alex Alex's question is so this will be a protocol based thing and not a new chain yeah exactly so H&S liquidity providing well so the point of a limit order book is such that that you don't need to liquidity provide so that it's you don't need to bootstrap liquidity in a pool and you could just put up orders uh in a like one-sided order right like
(06:13) if you had usdc you could put up um an order like a buy order or like a sell usdc order to buy H&S and then whenever someone in the market decides to sell H&S then um they could use this this limit order book Dex to to do that so yeah so there's no you know cold start problem with trying to bootstrap liquidity pools like in amms like so so you don't so with DX um they weren't able to do onchain limit order books um on ethereum because it was just too cost prohibitive and so that's why they moved their their decks
(06:56) over to like an app specific Cosmos chain um but then with this because they've like jiggered around with the tree and they've improved um uh the speed of execution on the evm significantly because they wrote it in Ule which is like assembly laying it's like lower level um which gave them like speed of improvements and it made them um more gas efficient just like on the ethereum main chain directly so that's why that's that's why like it's a breakthrough te in in the constraints of
(07:34) the evm so that's what makes warp exciting great really cool yeah I mean there something yeah he also says it would have been great for the happening you know because people were trying to get this you know there was a huge Spike for the um H&S at that time especially I feel fro okay was it difficult for people to actually buy H&S though on Central exchange I mean I mean yeah right now the centralized exchange exchanges that um that that list handshake are it's a gate you know and it's kind of like kind
(08:14) a little bit sketchy so if you were able to do this on chain that that would that would have been good to yeah I have so much dgen but that's locked on ethereum I need a way to bridge to H&S um yeah you know some people it's kind of crazy but people still like uh you know they like the staking and they like to kind of like the emissions of like proof of Stak you know I've talked to some people in h they're like oh why should I huddle handshake when I can stake and earn like Emissions on other
(08:51) chains you know but technically it's a different different tokenomics right people don't really think about you know but some people say why should I huddle H&S you know I've heard that quite a few times I'm huddling but I think some are always you know comparing it to like yes prove of Stak and and emissions and things like that um yeah I mean so yeah I I think like um from yeah from a speculative angle you know what if what if what if members of the handshake Community um you know made their money on like a meme coin
(09:35) right like you made your money on whiff uh and then you flipped it all and then the market corrects in a year or or a year and a half from now and then you put all those into H&S right because it's like I think I think price Discovery is really going to happen once the market becomes a lot more mature you know this crypto Market is still not mature because because memes are going for like a higher Market market cap than like a real Revenue generating business like like like Boeing or something right or or some like some
(10:09) that actually has a market of real people using it to the tunes of like to the tune of you know thousands of people per per hour using the service and then we have like a dog dog meme coin that's worth like three billion dollars what really it is really crazy yeah it's like this is not real you know so yeah yeah like once once you're able to or like once this Dex allows you to trade handshake natively on chain then you could completely just um you could start moving it around cross chain anywhere and you don't have
(10:50) to just rely on a centralized exchange yeah yeah Reuben's like how can it be a mature Market that promotes gambling instead of fundamentals and good projects yeah we're very far away I think we're like we're like 10 years far away it's like it's still that far away like people are starting to talk about rwa but then it's like not even it's it's just starting to get talked about right like like nfts are primitive of rwas and RW are only starting to come through this cycle and then there's going to be a lot of
(11:32) wash out and then it's going to take us another like five to 10 years for it to fully um for us to fully see like a real consumer application on top of it I think yeah so honestly I think if we if we turn handshake into into a blockchain that has like inscriptions and and where you could like launch memes on it might not be bad it's like what what if your meme is a what if your meme is like a uh is like a an inscription on the handshake blockchain or something or it's like you know you turn the meme
(12:09) into anld how do we get her going triangle because you want your name system to congest well see yeah that's the thing right like right right now the Market's so the market is so it's like such a clown world in in market and it's such a CL it's like an inverse world right it's like a clown World here that people think congestion is good because it means adoption so it's like not actually yeah Alex like KJ's a no show again yeah D J JJ JJ's like he's he's someone who's
(12:59) like so so deep in like so such deep Tech JJ's having DNS issues but then he's like a lite when it comes to when it comes to like using web using yeah using applications mem Miguel yeah I mean it we we could just like go on um for like I don't know the next 10 minutes about this and then we just we just like like just transition to the founder Q&A with Andrew and JJ I think by that time we should be online yeah we can roll them into that one um so it's war.
(13:46) but I check the site still not not ready right but it's going to be the domain will be war. I can see it coming soon with a GitHub and a Twitter but that's the domain name yeah yeah yeah yeah right that's the one yeah okay yeah Alex Alexander saying maybe we could do 10-minute lounge and then come back for the founder Q&A and see if we can well Andrew will be there but we can see if we maybe also get JJ's stuff to work so 10- minute Q&A uh 10- minute Lounge break yeah okay all right everybody so we we 10 minutes Lounge break or you know uh
(14:23) coffee break and then we'll see you back in the uh in the uh founder q& Community Q&A in 10 minutes all right all right see you guys Chango and'll [Music] see