Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Now, Kadano has a little bit of a data problem.
If you look on various applications out there, such as
dap Radar or June Analytics, you don't see much Kadano activity.
And a lot of people use these platforms to gauge
where they should speculate and spend some money on various tokens.
And if you don't see anything from the Condona ecosystem,
(00:21):
you just assume that there is nothing building on Kaardano
and that is a big problem. And we've seen this
recently in a post from this guy, Freddy Krueger. I
think that's how you say his name, but he basically
mentions that one of the biggest NFT marketplaces on the
Condona ecosystem only has five dollars of daily volume. And
(00:42):
we know that's incorrect, but I don't know why it's incorrect.
And I have James here from taptools. Taptools is the
primary year data application platform on the Candona ecosystem that
has data and information about all tokens and projects out there.
James to the podcast, Thank you.
Speaker 2 (01:01):
I appreciate you having me, and I wanted to add
to your point. So have inaccurate data like you said,
or just no data at all, which is even worse.
So yeah, one and the same.
Speaker 1 (01:11):
So why is this a problem? Why why don't these
huge platforms out there, such as depth Radar or june
Adalytics have anything related to Kadona or inaccurate data about Katana.
Speaker 2 (01:24):
Yeah. I think it comes down to the first thing
is when we started in this ecosystem, I recall, we
were trying to track asset movements and we didn't really
have a way to track them either. And that's when
we were just investing in this ecosystem, just seeing it
high level. So I can say I know, before tabtools
entered this space, there wasn't even really a way for
users on cardono to track their assets but to monitor
(01:48):
the performance of their portfolio really accurately.
Speaker 3 (01:52):
So very simply put, there is no one provider.
Speaker 2 (01:56):
That was reliable enough I think prior to tab tools
to even allow access to an API for some of
these larger tools, some of these more known tools, to
even get access to accurate information, it simply didn't exist.
I think there's others that maybe have tried in the
past but haven't been reliable for a long enough time.
And I think tach Tools has that track record now,
(02:18):
and we've also just had you know, tons of developer
work and tons of team commitment to create an API
that can finally provide that access. But you know, sometimes
these solutions are more simple than they seem. It really
is that simple. There was no access to an API
that could provide this data on a reliable, you know,
consistent basis.
Speaker 1 (02:38):
Right, So it does sound like a really simple solution
that you guys have put together now, But why haven't
these platforms started pulling in that data and using the
APIs that you guys have built to show what's happening
in the CADNA ecosystem.
Speaker 2 (02:52):
So we ourselves, I mean, I'm really proud to say
we've finally made it to the point where we are
in talks with a dex Tools and they do have
our API and it soon will be released. So first
of all, someone needs to make the API. You need
to aggregate all of this data you need to have
in a digestible way so someone can plug and play
that information with which it takes a lot of money.
(03:15):
It took us a lot of time to get to
this point in general where we could at least have
something that is reliable and aggregate all this information. And
after that, the second thing it takes is effort. It
takes real effort, because look, if it's not making someone
money right away, they're not always willing to do it.
You know, in a smaller ecosystem compared to maybe a
(03:35):
Salana or an ethereum, you know, people might not be
as willing or going as far out of their way
to integrate this data and to you know, give it
the views and the eyes and the respect that it
might deserve. But as the space continues to grow, it
naturally gains more respect. And then we also as a
community need to put the effort to get this data
(03:56):
to them, which I am now going through firsthand, and
I can see it was easier said than done. But I'm,
like I said, I'm really proud of to be at
that stuff. With dextols, they now have our API andsume
cardinal data will be available on dex tools for a
much wider audience, for millions more use.
Speaker 1 (04:14):
Well, that's that's absolutely amazing. And you mentioned something quite
interesting there, and that's about the money aspect around this.
How does a platform like dex tools generate revenue from
integrating in Cardano data. So they're basically just consuming which
will cost them because they're using your API, I assume.
(04:36):
And then yeah, they're just displaying that data for free,
Like how do they make money out of this?
Speaker 2 (04:42):
Yeah, So there's two sides of that. The first side
is we need so when I talk about the effort
to get them these tools, here's the first thing that
we're doing on our side. We're making it free for them.
So that's one way you can get a most data.
Make it as easy as possible for them to use it. Right.
If it came down to a paywall, then it's just
another reason why someone can turn away from Cardano and say, yeah,
(05:05):
we don't we're not going to use the SAPI. It's
not worth the money, simply put. So, I wouldn't. I
would be.
Speaker 3 (05:12):
Lying if I said I knew all of Dextel's revenue streams.
Speaker 2 (05:14):
I know they have swapping mechanisms on the side which
allow them to probably create some revenue from that. I
know they had a token in the past. But really
what we're doing instead for them is not making it
a loss. We're giving you the data for free, so
you're not going to lose money. I'm not exactly sure
what their plan is to make money off of it,
But the least we can do is say, hey, you're
(05:35):
not going to lose money paying for the data for
the time being.
Speaker 3 (05:38):
We'll give you the access, we'll provide it and at
the least let's just see where it goes.
Speaker 2 (05:42):
Who knows? All right?
Speaker 1 (05:45):
Cool, So that's reducing the barrier to entry, so then
they can start onboarding that dotterans that's brilliant. That's really
good to say that you guys are doing that. What
about other platforms that are really big out there, such
as like a depth radar or gene analytics. I use
those platforms myself more than deck screener. So is any
conversations happening there with those platforms.
Speaker 2 (06:08):
We're starting to reach out. I'd be lying again if
I said that they're about to do it. They're not
as far along as dex Tools or anything like that.
But we're in the process of, you know, crafting our outreach,
crafting our message to them, getting that API, just in
a completely I guess, digestible manner. I mean for dex Tools,
I know we had to make a number of adjustments
(06:30):
just so they can have it how they want. It. Again,
it's making that barrier to entry as low as possible
so they can just plug and play it. At the
end of the day, I don't have breaking news on
that front yet, but again, that's that's going to take
effort from us, and that's what we're willing to do.
We're going to have the outreach there to all of
those platforms and more. And I know this goes it
might be more known than I'm assuming, but that's one
(06:52):
of our largest catalyst proposals is to provide this data
to Tier one platforms because at some point it's going
to start costing us out of money to supplying all
this data. So to have some funding on the way
would be absolutely like it would be the best thing
in the world. That's that's what we need in them.
That's the community support that happens to actually make Cardano grow.
So we'll see.
Speaker 1 (07:13):
I think this catalyst proposal could have a lot of impacts.
Like I said, like a lot of the lot of
users use these platforms to analyze what's going on. So
I think if the community can read through this particular proposal,
I'll put links down below for everyone have a looked
through it and support you guys in regards to what
you're doing to make this all possible. So links all
(07:35):
down below, and thank you for putting a commitment towards
that particular proposal and getting all done.
Speaker 2 (07:41):
Yeah, And if I could, I just want to say, like,
I think it's easy for teams to say, you know,
we're here to grow Cardano, We're here to expand the ecosystem.
And it's one of like the biggest buzzwords that you'll
see people you know, use to try to get someone
behind their mission. But like many things, it's easier said
than done. It's easy to say, let's grow Kardano. It's
(08:03):
easy to say, you know, let's get more users, let's
increase volume, But to do it is a whole other thing.
And I think that, you know, I'm proud of Tabtools
that we actually are taking these steps to really, you know,
get this data out there. And if this happens how
we assume it will, like it is with dex tools,
like it will with the next platform. I really do
think it could be one of the largest, most impactful proposals,
(08:26):
like you're saying, and it it really will make a
tangible difference. It's not something we're just saying it's something
you see and it's something you'll experience and looks as
the creator of tab tools, do I want you going
somewhere else to go look at a chart.
Speaker 3 (08:39):
No, but I can also acknowledge that that's probably what's best.
Speaker 2 (08:42):
For the community. And if I want tab tools to grow,
the whole community, the whole ecosystem needs to grow, and
this is just a necessary step along that along that path.
So if we really are serious about let's grow, let's
grow Kardono, let's grow the community, we need to be
serious about things like this too. So I appreciate everyone's support.
Sure you even be willing to have us on and
have this discussion, But.
Speaker 1 (09:04):
You guys also have a lot of unique products within
tap tools itself, so you've got other sources of revenue.
So I personally aren't afraid that you guys are going
to be, you know, reduced to nothing in terms of
usage or anything, because you do you guys do have
some extremely useful tools out there. Do you want to
talk through a couple of these tools, because I use
(09:24):
these on a regular basis, So there's some really cool
stuff here, but let's highlight some for the community so
people get an idea of what you guys have to
offer for sure.
Speaker 2 (09:34):
Yeah, and I'm hoping we don't get ran over and
just eliminated as well. So that's not that's not the plan,
but we'll see. As I mentioned, we do have our API,
that's what we'll be using to just supply this data
in general. So we have an API, but that's already
used by tons of games in Corona, jipegg store, by
fire drops by just to name a couple. That's one
product we have. It's sort of the B to B fashion,
(09:57):
but more business to the consumer. We have tat tax,
which basically this is just like it consolidates all your
trading activity into one streamline support. It just makes it
easy to transfer this data into a turbo tax or
handoff to an advisor. And one reason I want to
talk about tab tax is because that's now free for everyone.
So if anyone listening to this who's traded on Cardano
(10:20):
can go to tab tools right now access tab tax.
Hopefully that gives you less of a headache for the
end of the year around tax season. I know it
can be stressful with crypto taxes. Sometimes that's one tool.
And then as far as our main suite, which is
taptools Pro. Tap Tools Pro is our pro tier of analytics.
It's our more in depth analytics. And within tap tools
(10:43):
Pro there's and there's a plethora of tools, but.
Speaker 3 (10:46):
To name probably our top tools. Wallet profile.
Speaker 2 (10:51):
So within the recently traded section of any token or chart,
you can get a you can see whether they're fish
or a whale. There's different wallet classifications based on your
holdings or your amount of holdings, but you can open
up that it's a wallet profiler and it will have
a summary of the wallets holdings, their their total value,
(11:13):
their profit and their loss, their recent trades, their top holdings.
It's just a really in depth tool to give you
a quick look at Okay, who is buying this token?
Speaker 3 (11:24):
You know, is this a whale? What's their other largest holdings.
Speaker 2 (11:26):
It just kind of gives you more of a I
don't know, it's more of a persona of who you
can see is trading and kind of what their wallet
looks like a quick snapshot, but with really crucial information
and great information to act off of. One of my
other favorite ones with tin tab tools Pro would probably
be associated wallets. I hate to say it, and I
told people this before, but this is the first time
(11:47):
I'm doing on and recording, so I'm putting myself out there.
But I'm a bit of a drama queen. And with
this associated Wallets, it kind of allows you to go
in and actually see, you know, what wallets are connected
to this main wallet, where are these assets getting shifted to,
where are these assets moving And in the past I've
called it the Cardano Shore, likening it to Jersey Shore,
(12:08):
this dumb drama show that I used to like. But
really it allows you to explore those wallet connections. So
if you're using our associated wallet tool, you can see
you know where assets are getting transferred, you know what
their largest holdings are. Obviously within other tools, but it
kind of helps you spot some suspicious activity if you
want to put on your detective glasses and do some work,
or you might be suspicious of something like just dive
(12:31):
in with this, you know, have fun. And there's also
many more. Lastly, I'll just touch on trade history bro again.
You can see a wall that's complete profit and loss,
just an aggregate or by token or you know, just
their individual trades. But this is really going to help
you just identify profitable traders versus unprofitable traders. And for me,
(12:52):
this is a useful tool just for the most obvious
reasons that you used to find someone that's making a
ton of profit making a killing. Can also favorite that.
And we have a wallet watchless pro as well, So great, there,
go ahead, favorite that wallet. It will go into your
wallet watchless bro. Then you can just leverage that. Let's
just make the trades this guy is making. He seems
to be up you know, you know, sixty percent the
(13:13):
past month. Maybe I can just copy him. So that's
just another note of a tool that you could leverage,
which is in our tap Tools pro suite for more
in depth analytics and hopefully give you a more clear
path to winning trading.
Speaker 1 (13:27):
And I love that feature. I don't have much time
to watch the markets and see what's going on with
all the various projects and tokens. I try to, but
you know it's almost impossible now with so many projects
out there. So the work profiler, I look at a project,
I look at who's trading and how well they're doing
on that particular token, and I just follow along for
(13:48):
the I'll just go along the right because they know
what's going on. They're doing the research, they're doing the
deep research and just copying them. So yeah, absolutely love
that tool.
Speaker 2 (13:57):
Yeah, if you can see a whale, if if you've
got something good and you're following the whales, that's usually
the right move. That's what they say, follow the whales.
So this should give you the most transparent, clear path
to do that. I'm happy you're getting good use of
it now.
Speaker 1 (14:10):
I love the way that you guys have given access
to users for these pro features using the Tappy NFT.
Can we talk a little bit about this Tappy NFT
and why you decide to go with this particular NFT
gated content for the pro features?
Speaker 2 (14:30):
Yeah. So, first, I guess i'll starve a shouting out
Catalyst f nine. We have to rewind, like maybe two
and a half years to really understand why we went
with the NFT. But Catalyst, we want an initial proposal
to continue building out the platform and building out the tools.
I mean, we had to get the tools to a
police where they were worth buying first of all, and
(14:52):
it ended up Catalyst on nine allowed us to operate
for a little over a year for completely free.
Speaker 3 (14:58):
I'm allowing everyone to use these tools.
Speaker 2 (15:01):
Yeah. So I mean, we weren't making anything, but we
weren't losing anything. We had some support from catalysts, so
want it allows us to create these tools, make them reliable,
and also allow users to try these tools out, test them,
give us feedback for over a year. So by that
time that's done, Hopefully many you know, many individuals are
on are familiar with the tools, and they're tested and reliable,
(15:23):
so hopefully they're worth paying for it by then, and
hopefully individuals are aware of them to even pay for them.
And we actually used FONT nine, I mean down to
the wire. We were backs against the wall beat We
had almost nothing. It was like next month, like okay,
we're going to go under if we don't bring in
some money, like literally, and I remember looking at the
(15:44):
credit card like oh wow, like okay, this is it right.
We did it as long as we could. We have
left it open. It's time to charge, and I think
we made the decision. Okay, we got to make revenue.
I mean, there really is no decision. But with an
NFT in the past, I mean, I'm sure you've bought NFTs.
I bought NFTs just for the purpose of ur We thought, hey,
(16:06):
we can have the first NFT that's actually utilized as
a subscription, you know, giving something a real, like tangible purpose,
giving it actual utility, which is something you hear so
many times. But it's like, how cool would that be
if we can create an NFT with utility and let's
just leverage that as our subscription, because we were just
going to have a subscription it was going to cost
the same thing, but now it's like if we can
(16:29):
make it an NFT, well, now users also get to
hold that NFT.
Speaker 3 (16:32):
They get to feel more part of this community.
Speaker 2 (16:34):
They get to have something that you know, they can
point to as their membership or as their card, and
it's providing the same thing as just a subscription would
if they paid for it with a credit card. So
it was kind of like combining the best of both worlds.
It's like, hey, we don't need this NFT, but we
can have it. It's going to give us the same
utility and same purpose as a subscription. It seems to be.
Speaker 3 (16:54):
Also what users want, So let's just do this two
for one. We'll have an NFT.
Speaker 2 (16:59):
It will act as to a normal subscription, It will
give people a sense of community and overall, hopefully not
to mention for us as Steptos. Hopefully this is what
helps drive us the most revenue as well. Hopefully this
is what our users want to see the most today.
I think it's what they have, but I will say
lately we've been having to push for a general subscription too,
which is on the way, all right.
Speaker 1 (17:21):
Good. It's good to see that there's options there for
users in the future as well. So if you just
want to play credit card subscription, great, that's fine.
Speaker 2 (17:28):
Yeah. I do love the NFT all right.
Speaker 1 (17:31):
I do love the NFT play though, because like I've
been using my Tappy NFTs and renting them out on
like fluid tokens, so I'm not using it all the time.
So I rented out on that platform and then other
people can use it, so you know, it's it's very
versatile and what you can do with it.
Speaker 2 (17:48):
Yeah, it should be a win win And I've heard
about other people doing that too, and it seems like
a great avenue to get that at access when needed
and just allow it for like you're saying, as much
use as possible.
Speaker 1 (17:59):
Right, So on the future roadmap for taptools. So what
else have you guys got in the pipeline. I know
you guys have also a lot other catalyst proposals as well.
There's a whole list of them. I'll put the link
tree link down below in the show notes as well,
but highlight something for us, what's coming on the ROADBAP next,
and what other catalyst proposals should we be looking at.
Speaker 3 (18:22):
Yeah, I will start by saying Number one for us
is the data.
Speaker 2 (18:25):
It's getting that data out there, coming on the horizon,
they're hopefully done by the end of the year. Is
our app, our tap tools app, which is going to
release that iOS and Android store. Yeah, amazing, come out
before the end of the year. I'm not making a
promise right now. Don't come after me at you know
if it's not out before the end of the year,
but that's our goal. I know timelines are infamously off
(18:46):
in this space, but I can tell you I do
have the app on my phone and I have been
testing it.
Speaker 3 (18:51):
So it's very close to being there.
Speaker 2 (18:54):
There. Yeah, let me see it's a quick snapshot just
so you can see this is our APPE On top
of that, I will say in the in the catalyst proposal,
we do have I know I mentioned wallet Profiler earlier
as one of my favorite tools. We do have a
catalyst profile or a Catalyst proposal titled free Wallet Insights
(19:18):
for Token Trades. What we're lobbing to do is essentially
provide our wallet profiler tool, be free, be open for everyone.
If we can get the funding for that, we'll be
able to afford to supply that data just on a
regular user basis. So that's something else on the horizon
that I would encourage people to vote for. Wallet Profiler,
I think is just a tool that everyone get used from.
(19:38):
It might not be as in depth as some of
the other pro speeds, but it's a great tool and
I think it gets it. I know it, it's the
most used. We have our stable corn stable Coin dashboard,
which is just going to aggregate all the essential metrics
you know, prices, collateral ratios, liquidity, some risk indicators of
all stable coins just in one digestible dashboard. We'll have
(20:00):
the same thing for a lending and borrowing analytics hub,
which is going to be very similar, have a lot
of the essential metrics TVL loan volume, market, dominance, wallet activity,
and that will be with all the ecosystem leading platforms. Yeah,
we have two more, we have the Wallet and Health
Portfolio Risk Analyzer, which will hopefully just give people more
(20:23):
insight into their portfolio health. You know, maybe point to
them if they have liquidity that's worth noting, or they're
over just maybe overinvested in one area, non diversified, or
they're overexposed in high high volatility assets. It will just
give you quick metrics like that just to point out
some things within your own portfolio, which will be very
(20:43):
useful to see. And thank you for touching on the
news aggregator. I'm actually our editor, so I review all
of our articles. I'm not the lead writer. We have
a great writer, but I'm not him, so I'm not
taking credit. I don't know if he wants me to
say his name right now, so I'm not gonna. But yeah,
we have a great writer. I'm the editor for him,
and he does a fantastic job. But we realize we're
(21:05):
like one of the only one of the few outlets
in Cardano that's even releasing news that's not just like
all the time, just like kind of like baby like
negative news because it's easy to go that route. And
I think you can speak to this because you know,
you do news all the time, like you have an
educational platform more in a video format, but like sometimes
it can be easy to just like you know, maybe
(21:27):
do negative news and not highlight some things that are
worth highlighting. And you do a great job at seeing
it all, but we want to make sure that that's
all aggregated in one spot, which we can do, and
we want to have a dedicated page just for that.
So Cardano's spot, cardnal feed coin desk, some of your
information are articles all digestible in one spot, which I'm
sure you can speak to. It's going to give you
(21:49):
more eyes as well. It could be a main page
on tab tools, like as in a sidebar formation. So
that would be another way just to kind of expand
the reach of card don. I get more eyes seeing
more of you know, all of the news, not just
the bad headlines or just the good headlines, all of it.
Speaker 1 (22:07):
Yeah, that's going to be super useful for people just
wondering what's going on in space, so they'll look up
a project, see or what's going on with that one
particular project, the token price whatever it is, and on
the sidebar or the relayd information and other news updates
and stuff. So that's absolutely brilliant. This roadmap is really exciting.
I can't look for the mobile app. You know, everyone
uses their mobile phone, so trading on the run is
(22:29):
something I do on a regular basis. So this is
going to be really good for users such as myself.
But this has been great. You know, watching you guys
grow over the last couple of years has been amazing,
Like from from nothing to where it is now has
been phenomenal, and you know, congratulations on everything that you
guys have done. I think the community has really embraced tabtools.
(22:52):
Absolutely love the platform and everything that you guys have
to offer.
Speaker 2 (22:56):
Thank you and I appreciate it. Like you said, from
nothing do we are now. It's been a long journey,
but we have your support, we have community support, so
I appreciate you as well.