Cardano Has the Tech. So Why Is Everyone Else Winning Deals?

Episode Transcript
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Speaker 1 (00:00):
Some big news stories for you guys this week. These
ones here are some highlights that I think could potentially
affect your AIDA holdings. So let's get into them here now.
For those that don't know me, my name is Peter.
If it's the first time here, it hit that thumbs
up like subscribe notification bell. I'll keep you up to
date with everything that's happening in the Cadana ecosystem and
broader crypto space, and this story here is definitely one

(00:23):
of those broader ecosystem stories. Now X four O two,
this brand new foundation that was created by the Linux
Foundation is all about a brand new standard that is
being used for agent to agent payment. This is AI agents.
So for those that haven't caught up with the whole
AI side of things, AI agents are essentially your personal

(00:47):
assistant that is created with AI that can almost do
anything for you, and that also includes things like making
your bookings or online purchases. But in this situation, this
brand new standard was created so AI agents could talk
to each other and pay each other for certain things.
Maybe it's access to data or access to a certain

(01:09):
API or service, whatever it might be. And at the moment,
we pay for services on a monthly basis. We use
like a software as a service subscriptions, but that could
all be coming to an end because now we have
on demand payments and on demand micro payments via AI agents.

(01:29):
So an AI agent could go to another AI agent
say hey, I want to post a video on your
owner's YouTube channel such as my own YouTube channel, and
my AI agent might say yeah, that will cost you
one hundred US dollars and the iagents could pay each
other for that and then schedule up the posting of
that video. So all of that is possible. So if

(01:51):
you are interested in any of that, check out what
x flour or two can do. Because this is the
foundation for AI payments and it's really cool to see
that the Kadana Foundation has some sort of seat at
the table around this. And I did look into this
one here and there's various news posts that are going up.

(02:12):
This is the official post from the Kadana Foundation talking
about this as well, so it's good to see that
there is involvement from the Cadana side of things. Now,
if you want to see what projects are building and
working within the AI agent space on Kadano, if you
haven't checked out Masumi network, yet do check them out.
I'll show you a little bit more in a moment.

(02:34):
And then also Odanao is also working in that space too. Now,
I did look into this announcement a little bit more
to find out what actually is going on. And essentially,
this foundation is a colomeration of a whole bunch of
people in the ecosystem at the moment that are making
decisions on how and what and which direction this payment

(02:59):
protocol should go. So Circle were Coinbase, they were the
ones that piece this one all together. But let's have
a look at who is actually supporting this on a
higher level at the moment. You can see all the
big names here. That's all well and good, but let's
go to the members area that are actually paying for

(03:19):
a seat at the table. You can see all the
big name brands here. These are a Doist, Cloud, American Express, Google,
their MasterCard, Visa, so they're the main payment gateway people
that are out there at the moment and infrastructure people.
So it's really good to see. We can see solana Foundation, Stella,
and Ripple from the blockchain side of things, but then

(03:41):
we can see the general members down here Alo Arkah
and five blocks, a lot of infrastructure stuff in the
crypto space as well. Layer zero polygon. Then you go
to associate members and then you can see the Cadana
Foundation right at the bottom there. So it kind of
leads me to question how much of an influencer Caadana
Foundation has in the xplorer two foundation. And if you

(04:03):
look at the very bottom down here, we can see
what an associate member is, what kind of positions, seat,
voting power they might have, and it's essentially just a
logo placement on the website. So I don't know what
this actually means for Kadano. Hearing the stories and you know,

(04:23):
the hype around this, I thought was really exciting because
x floor two I really think is a perfect use
case for blockchain. But what is the Kadana Foundation doing
as part of this, I don't know, not much from
the looks of it. From being an associate member, if
they forked out more money, so to be a general member,

(04:46):
depending on how many employees you are, you're going to
fork out a little bit more here, so it does
add up a little bit, But to be right at
the very top and actually make decisions in regards to
how payments are done, how it's implemented or whatever standards
or where things would be deployed, whatever it is. I
don't know what they're voting on or what they're talking about,
but you need the premiere membership there, and that's two

(05:08):
hundred thousand. So it's all a pay to play ecosystem
at the moment. And that's how this X four or
two foundation is working. Whether that's a good thing or not,
I don't know what are they going to be doing?
I don't know either, But here we can see what
level of involvement Kadana is having within this space. Now

(05:31):
what some of the benefits here? It's very I don't
know's it even worth paying that much? You've got the
direct influence on budgeting, core governance and decisions and participation
in the committee. Okay, fair enough, but what is a
committee doing? I don't know. Premier replacement on the website. Cool,
that means your logo up there? Is it worth two

(05:53):
hundred thousand? I don't know. Prominent feature in press releases
and all that. And yes they did get a prominent
All these organizations got a executive quote in the in
the article and media releases, and you know that's kind
of good for exposure, that's for certain. And then the
last one here at pointed seat on the governing board. Again,

(06:14):
I don't know what they're governing at the moment. It's
an open standard, but you know, we'll see now. I
do these videos and regular basis to keep you guys
up to date with everything that's happening. I do all
these interviews and I don't get paid for any of this.
All my revenue primarily comes from the YouTube ads and
sell of NFTs. So if you want to support the channel,

(06:36):
you can become a channel member. You can have a
look here. These are all my fantastic channel members at
the moment. You can subscribe if you have the means
to do so, and it's just a prize of a
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as possible, so if you can, if you do have
the means, if you do want to support, you can
do so that way, and it keeps me going, keeps

(06:58):
me motivated, and keeps me producing these videos for you guys.
If you can't afford that, that's totally fine. You don't
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you can at least hit that like a subscribe button.
It helps with the algorithm and it helps me get
these videos out there for the community. Now with that
out of the way, let's get back to it. Anyway.

(07:19):
I thought it was good news when I saw it,
but then when I dug into it to find out
exactly what's going on, it was kind of a little
bit disappointed that, you know, the Kadanda Foundation is just
an associate member further down on the list, doesn't have
any real say in regards to what's happening here. But
maybe we'll see some bigger developments in the future. But
I think the more more practical side of things is

(07:40):
actually seeing the implementation of xploor or two on Kadana,
and that's where OData know is coming in and building,
actually building and delivering things to actually make things happen.
And of course Masumi as well. Now Patrick here put
up a video because it is all over this stuff
at the moment, and I'll quote what he said here.

(08:03):
I'm extremely excited for this announcement. So I decided to
build an explain a page for X four A two
on Kardano. So Kadano's core architecture, it's extremely strong for
X four two with the eut XO model. Combine that
with Laos Hydro Masumi and we have a killer stack.
And I completely agree. And to actually have the technology

(08:24):
implemented out there, that's the number one goal here. So
if you want to learn more about it, I'll put
the links down below to Patrick's video here and you
can check out the video with the explainer about the
stack and how it all works. Now, the cool thing
here is that you know, if you can have hydra
here and you have two AI agents talking to each other,

(08:46):
you can have millions of transactions per second and you
can do all those micro payments really quickly. That's one
of the really cool things that is possible with hydra
and this next era of Kardano scaling, so really really
exciting stuff. Now talking about hydra, this one here was
a little disappointing to hear and Delta DeFi the only

(09:08):
decks on the Cadana ecosystem built on hydra for that
high frequency trading, that really fast trading. They have stopped
operations due to the lack of operational runway, so essentially
they've run out of money. So Delta DeFi operations will
be paused effectively today until further notice. Now, what was
the failure here? I don't think it was Delta DeFi

(09:33):
in general, it's their their platforms good. I send dan Labs,
the boys there, knsign, and I can't remember who else
I've been talking to you over the years. They know
their stuff. They're really good developers. Mesh JS and all
those libraries. I use them on a regular basis every
DAP that I've built, and a bunch of smart contracts

(09:54):
Escrow smart contracts for example, I've used from what they
have built, what they have put together the other is
really good stuff. So it's not a technical capability here,
but I do believe it's a marketing and business development issue.
So I'm going to ask you guys, have you heard
of Delta DeFi, Have you tried it? Have you used it?

(10:16):
Leave a comment down below let me know, because I
think that's the biggest problem here. Not enough people know
about Delta DeFi or understand it to actually even use it.
So if you haven't heard of something, how the hell
would you know to go use it and experience what
hydra is like on Kadano. Now, I know these guys

(10:38):
have done a lot of work with the Hydra team
as well. Hydra recently received a lot of funding through
the Treasury to take Hydra to the next level and
keep evolving Hydra. But what's the point of building all
this technology and scaling when the DApps that are building
on it aren't being used. They don't have the capacity

(11:02):
to grow and fund themselves because of the lack of users,
the lack of funds liquidity being brought onto the platform.
So I think that's our major problem at the moment.
The tech is coming, the tech is there, We've got Hydro,
we have layoffs coming around the corner, and that's been
funded as well. But again, if we don't have the
users participating in DeFi using the blockchain, we're going to

(11:27):
be in a lot of trouble. Now, this one here
I thought was quite interesting and Radolph here points out
that this particular partnership with the Japanese financial giant SBI,
and they've decided to partner with Solana. Now, for those
in the crypto space, you would know that Slana is

(11:47):
brilliant at their marketing side of things and business development
side of things. They have huge parts of their foundation
focusing just on that to try and build adoption and
bring in partner and there's like SBI onto the chain.
Whether this is just a pilot and just an experiment

(12:09):
to see what it's like, that might be the case,
and they might be paying millions for it just to
make it happen, but just to get that kind of
exposure and experience and a foot in the door in
this financial space, especially in Japan, I think is huge.
Japan has been big for the numerous years for their

(12:31):
financial sector, for the carry trade, where you can borrow
money for real cheap in Japan and then use that
to invest elsewhere in the world. So you borrow for
negative interest rates in Japan and then earn ten percent
yield somewhere else. So it's like getting free money and
then using it to earn rewards then paying back the loan.

(12:52):
That environment's changing at the moment, but that volatility is
probably a good thing, especially in the crypto space, when
you have market makers making money off volatile and Alpha
Prime is a good example of that. But I'll talk
about that later. But Charles here commented on this, and
I thought this was a really interesting comment and I
think is right here. Now, why would this be a

(13:14):
disappointment for the can community we started there. We need
commercial representation to make these deals. If you want them,
then pay for them, use the treasury to finance initiative
and seal the deals. Or how we learned helplessness over
social media and owned bonuses pointing blamemantch ops. Okay, So

(13:36):
besides that last sentence there, everything else I think is
a definitely valid point. We need the representation, we need
the business development, we need the marketing, not just in
Japan but anywhere in the world that is interested in
implementing this type of technology. And this is the biggest
thing that Kadana is lacking at the moment. This point

(13:58):
here are from cash I think is very important. And
this whole point of if you build it, they will come.
It's not happening. It really isn't happening. You can build
the best tech out there on Kadano, build a super fast,
super secure DAP, but if people don't know about it,

(14:19):
they will not use it. If they aren't educated, they
just won't know. It's been made abundantly clear at this
point that it's not the case. Is extremely important if
you want Kadanas to succeed. It's not optional anymore. IBD
and commercial arm have let us down to this point.
It's not debatable. This is one main reason why I'm

(14:40):
supporting Alpha Growth because I think it will shine a
very positive light on the ecosystem we have built and
allowed us to have some reach outside our bubble. And
I completely agree with that. And cash here did do
this big partnership with this ticketing and events platform called Sellout.
They were trying to get funding and the Hydra intersect

(15:03):
voting process, but it didn't get enough support. Unfortunately, the
whole voting process really didn't work out well. But I
will follow them along for the journey and see if
they can work out funding in a different way. But
business development is the biggest thing that we need to
work on right now. Now. There are various comments down here,

(15:25):
and you know, some people still don't know what Alpha
Growth can do. This comment here I thought was interesting.
Alpha has no records of success. We're about to lose
all that money because people don't know what they are doing. Plus,
we need to get the chain faster. It's probably why
Solana got it. I don't think so. I Well, okay,

(15:47):
first off, two things, the layoffs the Hydra you know
that side of things. It's coming, it's been funded, it
will come, it will happen. We don't need to worry
about that too much. We don't need to fund it anymore,
need to fund things that will drive up the transaction
volume once we have that hydrous and lay out side
of things. So we've got the scaling. It's coming. We

(16:09):
don't need to worry about that. What we need to
worry about now is people actually using the chain itself now.
To answer Quadros comment here, I know he's an anonymous
person and it's probably ye sixty two follow ups, so
it's I don't know why I even replied, but I'll
put here all of the the not the proof of

(16:33):
what our growth have done. So this is what they've
done for Compound Finance over the years. So Compound is
built on arbitrum. They started off with almost no liquidity
and the olfgrowth team built up over three proposals the
amount of TVL on their platform, so it went from
I think nineteen million to two hundred and eleven million

(16:57):
TVL over a course of a year or so. So
check out the blog post. Those numbers might be incorrect,
but it's all here within the blog post itself. Here
we are so the pre incentive. They started at forty
million and they topped it out at two hundred and
thirteen million after their incentives period, so it's a decent

(17:19):
amount of growth. It's a decent decent amount of growth.
So this is all incentives for putting liquidity onto the
platform and all that stuff, so you get extra yield
and that comes from their proposal that they put in
on arbitrum to get to one point eight million ARP grant.
So that's how they did it, and I think it's

(17:41):
a very successful technique, but you do need a big
carrot to be able to bring in that type of liquidity.
So you can read all these three links here. I've
got the Oupha growth one, I've got the comments here
from compound itself, and then also Castle Labs who did
an independent review of the entire process. Well, so you
can see from three different points of view how that

(18:04):
whole process went with what our for growth did. That's
just one case study, and there's various more case studies
in regards to how and what alphrogrowth can do for
different ecosystems, and now they're potentially doing it for Cadano.
They just need the votes from d REPS to make
that all happen. If you go down a little bit further,
what did this guy say in reply? Not worth it? Yeah,

(18:26):
okay whatever. I think it is worth it, and I
really think we need it now because we need that
business development. We need the marketing, we need the reach,
we need the exposure, layoffs, hydra scaling. That's all going
to happen. I know it's going to happen, but we
need that big push from the ecosystem itself to get
liquidy in now talking about build it and they will

(18:49):
come or not come. This is an interesting post around
the future of blockfrost. Now. Blockfrost is an API service.
They provide unchained of what is happening on the Cadana ecosystem.
So I probably didn't explain that too well. But you
can use their API to do queries and get data

(19:11):
from the chain. So inspecting a wallet, for example, you
can see what's in the wallet, how many assets are
in there. Then you can use a transaction builder locally
on a DAP or on your computer, build a transaction
around that wallet and then sign that transaction and then
send it back to black block frost, so you can
do a transaction or swap whatever it is. So a

(19:31):
lot of the DAPs, a lot of the wallets, a
lot of the Cadana ecosystem use block frost. For all
the stuff I built over the years, I use block frost.
If you know about Cardano Press, Cadana Press is a
plugin that are built for WordPress that allows the WordPress
website to talk to the blockchain that uses block frost.
My bounty platform, my leaderboard, my mini DAPs, my de

(19:55):
rep fine deear matchmaker application, my statepool delegation application, they
all use blockfrost. Now, without Blockfrost, all of that, everything
that I've built over the last three four years dies. Essentially,
it goes can put. I have to rebuild everything and
wire in different API methods and it's a lot of work.

(20:21):
But their future is up in the air at the moment,
and they want to move blockfrost to a community owned,
not for profit that lives completely unchained, so essentially a DOW.
They want to make blockfrost from a sub entity within IOG.
So let me give you a bit of history. Blockfrost

(20:42):
started as its own entity and grew and became a service,
got a little bit of funding, generated a bit of revenue,
which is great, got bought out by IOG. I believe
they approach IOG and said, hey, we want this to
grow further than what we can do within our capabilities

(21:02):
and then eventually get into the community's hands. We need
your help. So IG took it on. Then IG from
here where it is now, they want to finally go
to that last stage and have it in the community's
hands and have it as a community owned product, live
on chain as a nonprofit. So that's the situation, and
that's where block fross wants to go right now. But

(21:23):
to be able to do this again, it needs treasury
funding to make this happen. It needs the last bit
of funding to make it all into the community's hands
and running through staatepool operators, et cetera, et cetera. So
the main steps. I'm a icebreaker, which is a node
validator for block fross, so some of their infrastructure, some

(21:45):
of their hardware is being decentralized and put onto statepool
operators out there. And I am ever thankful that I
managed to get in as an icebreaker because I own
a little bit of revenue for it. So every bit
of transactions that go through I take a little bit
cut off the top which is kind of nice. It's
a nice extra bit of revenue for the statepool. But

(22:06):
here we are at this point in time and we
are now looking at Block Frost potentially closing down if
they don't get the funding to make this final stage
of the platform happen. I really hope they don't close down.
I can't see it closing down. They do have a
lot of customers. I am one of them for example,
and a lot of the people that use Candata Press

(22:28):
would be paying for it as well. But this is
where we're at the moment in the community. We need
more paying customers, we need more users building, we need
more users using those DAPs and products that people are building.
So when we get there at the end, I am
really hopeful if we can get the transaction volume up

(22:52):
and more people using the chain. In general, it has
a flow and effect for everything else, and I can
see if like this get really adopted on Kardano, we
will see the flow and effects to everything else down
the chain. So in terms of supporting Olpha growth, I

(23:13):
think it's really important. In terms of supporting a block
for ross future, I think it's really important as well.
They're all key pieces that we all need at this
point in time, But I think the main thing that
we really need to shift focus on is the business
development and marketing side of things. How many Kardano content

(23:34):
creators do you know out there making Cadana content on
a regular basis. Challenge you to put all their names
in the comments down below if you can tag them.
If they've posted content on a weekly basis over the
last two months, tag them down below. Let me know
how many are left. Anyway, guys, that's all I had

(23:58):
for this particular update. There are some other small news
announcements here. We've got the Van Rossam hard fork coming up,
so end of this epoch here, which is in about
two days time, we will have the Van Rossum hard
fork happen. If you happen to be delegated to a
stakepool operator that hasn't upgraded their nodes yet, then you'll

(24:19):
be caught out because your pool that you're in will
not earn staking rewards. Just to let you know, let
me just

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