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    Technology

    The Zeitgeist

    Brian Friel and the Phantom team highlight the founders, developers, and designers who are pushing Web3 forward. Join the conversation as we delve into the unique challenges and innovations happening in crypto.

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    Copyright: © 2022 Phantom Technologies Incorporated

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    Latest Episodes:
    Albert Chen - Genopets Co-Founder and CEO, EP 13 Nov 22, 2022
    Show notes

    As the world's first move-to-earn NFT game, Genopets is making it fun and rewarding to live an active lifestyle.Co-founder and CEO Albert Chen joins Brian Friel to discuss Genopets' unique approach to web3 gaming. Show Notes: 00:56 - What is GenoPets?01:33 - Tracked by Mobile03:00 - Geopets similar to Tamagotchi03:44 - Background / Why build on Solana06:56 - User demographics08:33 - Thinking about an in-game economy10:57 - How to use GenoPets14:00 - SFTs and Crossovers with other games15:14 - Sustainability for in-game economy18:35 - What's next on the Roadmap 19:38 - Turn-based battles 20:21 - A builder he admires 22:02 - Contact info Full Transcript: Brian (00:05):Hey everyone and welcome to the Zeitgeist, the show where we highlight the founders, developers, and designers who are pushing the web 3.0 space forward. I'm Brian Friel, developer relations at Phantom, and I'm super excited to introduce our guests today, Albert Chen. Albert is the co-founder, CEO and CTO of Genopets, a revolutionary note, free-to-play NFT game that's on mobile and is already at 300,000 plus users. Albert, welcome to the show.Albert (00:34):Hey, thanks Brian. Great to be here. Huge fan of Phantom as well.Brian (00:38):Excited to be talking with you as well, big fans of what you guys have been up to. I think there's a lot of folks listening to this podcast who may have heard what Genopets is. They made a scene, a few Genopets flying around on Twitter. But for the uninitiated, can you give us a little overview of who you are and then also what is Genopets?Albert (00:56):Yeah, so Genopets is a free-to-play move-to-earn NFT mobile game that makes it fun and rewarding to live an active lifestyle. A Genopet is a digital pet that you own and it evolves and grows as you become more active in life. The steps that you take every day powers your journey through the Genoverse as you explore battle and evolve, and you have the ability to earn and create NFTs while you play it.Brian (01:22):That's super cool. And so this is all tied to mobile, is that correct? Essentially you're able to track steps, an end user, how active they are throughout the day and have that influence the actual NFT?Albert (01:34):Yeah, exactly. So we are a native mobile app that you can now download from the app store for iOS and the Google Play store for Androids. We have a clear separation of concern in terms of our mobile app and our web app. So we also have a web app, and that's our web 3.0 platform that you can access through the Phantom browser actually. We made it mobile first so it's compatible on mobile devices as well as your desktop. These two experiences are separated for good reason. The mobile game experience is targeted towards any gamers and/or any fitness fanatic because it's very easy to download and just get started.(02:12):Once you download the app, you can summon a Genopet by answering a survey. Then once you get your Genopet, you can start leveling up and evolving it and caring for it. It's not until you want to really explore the other side, the NFT side of the game that you have to create a wallet, connect your account on our web app, and you can buy a Habitat and do crafting. We consider web 3.0 an expansion pack to the mobile game experience.Brian (02:37):I love the phrasing of that. It reminds me a lot of something like a Tamagotchi if you were around in the '90s like that long ago, or Pokemon kind of being tied in with this pet that can do battles, but you have to care for it and it's reflective of you and you kind of develop your own personal relationship and. I think that makes a lot of sense to kind of tie on the web 3.0 NFT component as an added on bonus to that.Albert (03:01):Yeah, absolutely. It's funny that you mentioned Tamagotchi because the first phase of our game loop, we literally internally call it the Tamagotchi loop because it's about growing your pet, caring for it, and then when we come out with Augmentation, you can customize your pet to look however you want. So that completes a whole game loop of what we call the Tamagotchi loop.Brian (03:20):That's super cool. You mentioned kind of the early days there, you guys calling it the Tamagotchi loop early on. I'm curious to hear maybe a little more before we dive into Genopets about your background specifically. You have a really unique framing of, you have this web 2.0-like game with a web 3.0 expansion pack. What is your background specifically and what led you to want to build a game in this way? And then why also did you choose Solana?Albert (03:44):Me personally, I've been a web developer since, I mean as early as 1999. Back then I was just building fun web experiences. I guess back then you could call it web 1.0. We wrote Perl scripts and that ran on websites that allowed us to build discussion boards and guess books and such. That's where I really came from. And then I started doing consumer products such as houseware goods. There was a brand that my co-founder, Ben and I, created called Unbrands. It was a line of products that allow you to hang anything on the wall anywhere without the damaging your wall. So we did that and we had a whole eCommerce layer to it, and this was in the early 2010s. And because of that, we've been working together for over a decade now and got into blockchain together in 2017.(04:32):One of our dreams was to solve this crisis that we see in the next 50 years of humanity, which is a lot of jobs that used to have value are slowly taken over by Ai and we want to be able to allow people to earn passive income through one way or another.(04:50):When we discovered blockchain, we thought it was a really good way of unlocking that. So in 2018 we had a project on the EOS blockchain called GeneOs. GeneOS was a decentralized health data marketplace. Essentially we wanted to create this rental marketplace for health data that allows people to monetize it and rent it to pharmaceutical companies or researchers that needed. We won the EOS Global Hackathon in 2018.(05:16):What ended up happening was we realized that that model was too top down instead of bottom up. There wasn't a lot of demand for this kind of data, at least not now in the technology for it. It doesn't exist yet, it requires a lot of progress and zero knowledge, machine learning and stuff. So we closed that down in 2020. And Ben, my co-founder, had the idea that the health data doesn't have to be boring, it can be something fun. What if it was represented as a pet? And back then we originally, our idea was that your health data would be an NFT and your NFT, it was a more boring version of NFT where your NFT would just be metadata on what your health records look like. But it was his idea that we can make that health record look like an actual pet that evolves as you become healthier.(06:06):So that was a breakthrough. And in 2021 we decided to relaunch the project, and this time on Solana because when we were evaluating different blockchains in the spring and summer of 2021, Solana was just coming up and I was very impressed with the TPS and the community that was growing behind it at the time. And to this day, I still think it's one of the biggest successes in Layer 1 history.Brian (06:28):That's so cool. That framing too of using health data and making it actually fun and something that turning it from this kind of dull dead thing that you don't care about to now it's represented as this ever evolving pet that you have an emotional attachment to, you care about, you want to continue to nurture that. That's a really cool framing. I love that.(06:47):I guess turning back to Genopets now, can you give us a sense of who your users are, maybe where they're distributed in the world?Albert (06:55):Yeah, we have a pretty global audience. Everyone around the world, pretty much every country you can think of. But our largest communities are in Japan, US, France, Russia, and India actually. This is just by the amount of activity that happens in our Discord. We have a fairly large Discord community by our players. The demographics is interesting. When we did a survey a few months ago, 70% of our players did not have any prior crypto experience before coming onto our platform. So we really think that web 3.0 gaming is going to be the springboard to get people onboarded into web 3.0.Brian (07:32):Oh, wow.Albert (07:33):We call it a Trojan horse of web 3.0.Brian (07:35):Yeah, I've definitely heard that Trojan Horse analogy before. That's pretty wild. 72%?Albert (07:41):70%. Every time that we measure this metric, it's actually going up. So there's a metric that we measure internally, which is what percentage of our players have never touched the blockchain while playing Genopets. And right now it's 80% as of last week.Brian (07:55):Wow, that's wild. I'm curious. You have this global audience across a number of different countries. I'd say we see as well in Phantom, like the US, certain parts of EU and certain parts of Asia as well are like there's some fairly crypto native communities there. But then as you're expanding that global reach, it doesn't surprise me that you're saying almost 70 to 80% of folks aren't touching blockchains. How do you think about that when you're designing a game that has these economic components as well? I mean, I know that you guys are free-to-play. Is that a big factor into that decision making and how do you kind of think high level about creating an in-game economy?Albert (08:33):From the very beginning, free-to-play has been one of the key pillars of how we wanted to build this economy. The thinking is that there's a whole other meta game inside of Genopets that's optional for the player, and that's the ability to become a merchant in this world. What that means is when you're playing the mobile Genopets' game, you don't have to think about how your items are received. If you want to level up your pet a little faster or you want that really cool weapon or really cool body part that we call Augment, you can just buy it directly on the mobile app. And on the other side of that transaction will be the merchant class player that cares a little bit more about the earning aspect of the game that are a little more crypto savvy. They can then log into our web 3.0 portal, connect their phantom wallet, buy a Habitat, and start crafting all kinds of items that people can use in the game.(09:30):So we like to call this the seller central, as an Amazon, the seller central of our game experience. So you have the demand side of the economy, which is made up of all players in the world, the same as any free-to-play game. And then you have the supply side, which in traditional gaming would be the game publisher, but here it's a little different, right? So we have the players create items for other players to consume and we take a fee in that.(10:00):The idea is that when you start enabling that, then you kind of get into a flywheel where if more people play, then more people will want to craft items and then there will be more content for people to consume and drives the other side of economy and you have this network effect that happens. Now, the end goal here is that through the governance of the actual game itself, the community can create new items themselves with stats that people vote on and move them into the game and complete this entire loop and allow this ecosystem to grow by itself.Brian (10:31):That's super cool. You mentioned a couple terms in there, I just want to hit on real quick. You mentioned crafting, which I feel like is this whole extra element to the game. There's Habitats as well. Habitats though being distinct NFTs separate from your actual Genopets for myself and also for folks listening as an end user, if I wanted to come and check out Genopets today, what should I be going to first? How do I kind of orient myself in this world where there's all these different components?Albert (10:57):Your Genopet is the main character that you use to play this game. It does not have to be an NFT. If you want, you can just download the app and you can create a Genopet. Later on, we will enable the ability to mint these Genopets as NFTs on chain after it reaches a certain level.(11:14):But if you want to go one step further into the game economy, the next step is looking at Habitats. So what Habitats are, they are NFTs where your Genopets can live in. But its main ability is the ability to mint SFTs and NFTs. It can convert the energy that you gain by walking in the game into what we call our KI token. The KI token is the main utility token in our ecosystem that drives everything.(11:42):So this mechanic is already out on Mainnet. We have tens of thousands of people using these on chain programs every day. What's coming in the next few weeks is the crafting part of it. So right now your Habitats can refine crystals every day, and these are building blocks of the game. Eventually these crystals can be combined to create Augments for your pet or toys or energy boosts, and these are items that you must have a Habitat in order to create.(12:11):We've created this program, an on chain program, that utilizes randomness to create what we call on chain loot box system. So every time you craft it, we have a bunch of recipes. The discovery of the recipe components is fun in itself, but the main mechanic that we're using here is that every time you craft, there's a different possibility of what item you end up getting. You can get a rare item or a common item or an uncommon item. It's almost like a digital booster pack. So components or ingredients in, item out. That's what crafting is. And then the end item, you can use endgame for energy boosts or you can use it to customize your Genopet, change your color of your Genopet, or add attributes, add attacks or defenses, what we call moves when we eventually launch battle.Brian (12:59):That's super cool. And then all these that you just mentioned, you mentioned the energy boosts, a lot of these are SFTs on Solana today?Albert (13:06):That's correct, yeah. So the only NFTs that we have right now are Genopets and Habitats, and that's because they're all unique. Items are SFTs because they are semi-unique, let's say. So like earth crystals for example, one earth crystal should not be different from another earth crystal. So to save for a variety of reasons, engineering reasons, enforcement of training fees and all of that, we prefer and we decided to build all of these items as SFTs and it's been working very well for us.Brian (13:39):That's super cool. I'm curious, and this might be getting too much into sharing deep roadmap stuff, but given that these things are on chain, they're SFTs, there's a world in which they could compose with other programs outside of Genopets, have you guys thought about that as well? Maybe having crossovers with other games or other DeFi platforms of some kind?Albert (14:00):Oh yeah, absolutely. It's a huge part of why we even built this economy on chain, right? Without the composability aspect of it, there is no point. We could just use a private database. Right now we are in talks with some DeFi protocols. I mean the whole SFT trading platform was built on Serum with the help of Magic Eden. So Magic Eden composes Serum where our SFTs are trading. And because they are SFTs, they can be probably put into an AMM a lot easier and you can probably do some kind of staking with it. So that's all future roadmap stuff and we're going to see where it goes. But yes, absolutely. Composability. I know it's something that everybody says, but it…

    Full show notes at the publisher

    Jonas Hahn - Solana Summer Camp Hackathon Winner, Ep 12 Nov 08, 2022
    Show notes

    Jonas Hahn, an established game developer who won the Phantom Track in the Solana Summer Camp Hackathon joins Brian Friel to talk about web3 gaming and his work Combining Unity and Solana with his project SolPlay.Show Notes:00:48 What is Solplay? 02:16 What are Deep Links? 03:41 What was what attracted you first to Solana?05:13 What is the state of gaming in Solana? 06:17 Exciting things in crypto 07:56 Tooling or developing infrastructure to make a breakthrough game10:04 WebGL for building 11:08 Future projects in the space 12:12 Is Mobile the future of Crypto Gamin?13:08 Advice to devs new to Web 3 14:25 A builder he admires Links:Unity-Solana SDK that provides a single interface for interacting with Phantom deeplinks and extension from a Unity environment.Example game built with Phantom, Unity, and WebGLVideo tutorials for building Unity games with Phantom: Full Transcript:Brian (00:05):Hey everyone and welcome to the Zeitgeist, the show where we highlight the founders, developers and designers who are pushing the Web3 space forward. I'm Brian Friel, developer relations at Phantom, and I'm super excited to introduce our guests today. Jonas Hahn. Jonas is an established game developer who has won the most recent Phantom Track in the Solana Summer Camp Hackathon for his work with Combining Unity and Solana with his project SolPlay. Jonas, welcome to the show.Jonas (00:33):Hello. Super nice. Thank you for having me.Brian (00:35):We're super excited to chat with you today. We love the work that you've been doing, pioneering game development between Unity and Solana. I'd love to start off, what is SolPlay? What have you been working on these past few months?Jonas (00:48):Yeah, SolPlay is just a name I came up with when I started working on Solana games. Because everything needs a name and I heard everything in the ecosystem should be called something with Sol, so I called it SolPlay. And yeah, what's behind it is I started working on games with Solana. I started when I joined the Hacker House in Prague. And I already had a little app on my phone and I had a wallet, and first I wanted to make a Solana Pay where you can send Solana to other people. So I used the Solan Art Wallet and implemented that but then Solana Pay came out and I kind of stopped this and went back to games.(01:26):And then in Prague, I met a few other people and we started building a game, it's called World of Qro, and for that we built connection where we communicate with JavaScript directly from Unity. So we sent messages to the React app and then at some point I wanted to have it on mobile as well and that didn't work, that workflow. And then I was investigating how it could be done and then I wanted to build a deep link connection to a wallet and was trying to build my own wallet. And then Phantom came finally out, was there Deeplinks and I was super excited about it and immediately went on it and then I even noticed that there was a prize for it, so it was even more exciting.Brian (02:03):Yeah, yeah it's good timing, right? Then for those who don't know, can you walk people through maybe high level, what are Deeplinks and how has this enabled you to build a connection. Really one of the first Unity games that's on Solana.Jonas (02:16):The good thing about Deeplinks is like usually you have a browser extension or something, but of course on mobile you don't have that. But a mobile, different apps can communicate between each other using application links. And what the Deeplink does, it creates a secure connection using the 25-1-9 thing.Brian (02:36):Yeah, yeah. X25519 key pair. Yeah, that's not as important. But yeah.Jonas (02:41):So it has a secure connection and then if you want to do a transaction in the game, for example, send Solana somewhere or MinTON NFT, you just create the transaction in the app and then you send it over to Phantom. Phantom signs it for you, and then you get the signature back and it says, of course a big benefit that people who play the game don't need to write down the key phrase or something, but they can immediately use the wallet that they already have. So I think no one can be bothered writing down these words, and I think it's very accessible, a good feature.Brian (03:11):I couldn't agree more. We're super excited about its potential to break crypto out of this pure browser environment. We know with extensions now you can be doing this in mobile applications, you can be doing these gaming applications. You mentioned that you got started with this originally at Hacker houses, you visit Prague, you kind of got into the Solana ecosystem. What was it that first attracted you to Solana? You're a game developer yourself, you spent a lot of time in Unity. What is it that first caught your eye about Solana in particular?Jonas (03:42):So the thing is, I tried making crypto games for 10 years ago already. But it just wasn't possible, I had a game where people could play against each other in a tower defense game. And then I tried something with PayPal and something with a Bitcoin, but nothing worked. And then two years ago I had started trying a game called Township from Gala Games, and they were using Ethereum and I got a little fountain, like an NFT. That was my first interaction with these NFTs. And then I tried to sell it later. It was because it was worth 0.5 Eth. But then I noticed I had to mint it from this side chain, and then it was only Ethereum and I paid $60 to get it off there. And then I had to pay another $60 to list it on OpenSea, and all that stuff was very tedious.(04:24):And then I was looking off their other blockchains and at some point I noticed that there's Solana where transactions don't cost anything and the transaction doesn't take minutes or seconds, but it's almost immediately, at least if you just wait for it to be confirmed. And then for a game, it just is necessary that transactions go fast, otherwise it just doesn't make sense. You can't wait a minute for a transaction and that's why Solana is the obvious choice. It doesn't cost anything and is super fast. Short answer.Brian (04:54):Yeah, I couldn't agree more. I think there's a really natural pairing there. If you could summarize for developers who maybe are familiar with building Unity games but maybe aren't as familiar with Solana, what is kind of the state of gaming in your opinion on Solana? Both maybe from the games that are out there, but also as a developer, you know what tools you have at your disposal right now to start building?Jonas (05:14):It's super interesting because everything is still super early. There are a few games which raised a lot of money like last year or two years ago. And they are building their own things, but there's a lot of games coming up from indie developers and small teams and everyone is trying to build their own things. And that's why I also want to try to make it easier for people. I started making some YouTube videos where I explain Solana stuff and I started now working on the Unity SDK and also the Phantom Deeplinks. They are also now in the Unity SDK from the people from Garbles who build it and lots of stuff is coming, many little games and I am in contact with some and trying to support them.Brian (05:57):That's awesome. What would you say is the big selling point for game developers who are interested in Web3 in general. SolPlay maybe we can take that as an example. You're able to use your NFTs in the game, you're able to save your high scores to a blockchain, but what is it that excites you the most about combining both the gaming world and the crypto world?Jonas (06:17):Yeah, I've been in the gaming world for a long time already. It's a very competitive market and I'm super excited about the whole blockchain thing because now finally you can build a game again, which isn't reliable on some service that is online. You have your own backend, you don't need the backend anymore. I mean, you still use Solana as a backend. You don't need a payment provider anymore because all you need to do is you just make a transaction which sent you some SOL or the token or whatever you want.(06:45):And what's also super exciting is, also for games companies I think, is that they can save the 30% fees in the stores. On web, it's one hand, but of course everyone wants to be on mobile because everyone uses mobile phones and these 30% fees are very important in the very competitive mobile games market, which we currently have. And what I'm also excited about is that it will probably spawn whole new kinds of games. I think the big game hasn't been spawned yet, the big crypto game, but it will probably be there somewhere and will probably be something new that we haven't seen before.Brian (07:17):Yeah, I agree. It's such an interesting paradigm, having this open backend that other people can plug into and you have tokens that potentially could be mutable and your interactions on the chain also maybe impact what your experience in the game is. I couldn't agree more that I think we don't quite know what the end state of the is, but I'd like those two examples you gave, especially the one around the 30% payment tax that most developers in crypto know all too well, especially if you're building mobile games. You mentioned that the space is early. We're still waiting for that kind of real breakthrough game. In your opinion, is there any tooling or developer infrastructure that needs to happen before we can have that breakthrough game?Jonas (07:57):It would be good if most stuff is open source. Solana is very good at that already. Many things are open source, but what's missing is targeting the traditional game developers. For example, go to the A MAZE conference in Berlin, which has crazy indie games, or go to the Unite Conference from Unity and try to get the people there. Because many developers I talk to, they still think it's a scam. It doesn't really make sense. It's super expensive, it's low and there are no standards yet where I'm not sure if it's good or bad. It kind of is this open stage still where you can do whatever you want. And also it's nice that there's not this big monopoly of a company who organizes everything. Maybe you have to use Google and now for Solana you can use Phantom software, all wallets you can use Fractal, has a nice API and very many opportunities and a Saga phone of course, if this happens, that will be also amazing if you have a crypto phone that you can use.Brian (08:57):Yeah, I don't think it's a matter of if, I think it's a matter of when. And we'll be releasing this episode shortly before Break Point. I know that Phantom and then also Solana have some great news to share around the progress around Saga phone. I couldn't agree more that that will just continue to break down the barriers and make this a lot easier.Jonas (09:14):One more thing about that topic is that there needs to be some clarity about regulation about somehow. For example, if I mint an NFT, I still have no idea how I pay taxes on that.Brian (09:24):Right?Jonas (09:25):Or if someone sends me a USDC token, what is it? It's an income. What is staking? What do I do with the tokens I get? And if that is all cleared out at some point, which will eventually happen in the next one or two years, then more big companies will also start.Brian (09:40):Yeah, the fact that this is a global phenomenon doesn't make this any easier too. You and I'm in the United States as a recording, you're in Germany. Interactions between the two of us definitely don't make it any easier and I would not want to be a crypto accountant having to think through all of these things right now. So all this is really awesome. If you haven't checked out SolPlay, I would definitely recommend checking it out. It's a great game. If I'm not mistaken, you've also used WebGL in some aspects of this as well, is that right?Jonas (10:05):Yeah, it's cross platform. So I'm building an example game. Open source example game, which also has these Deeplinks in it and now it also has a token swap using the Orca tools and Metaplex for minting NFTs. And yeah, it's mostly an example game, but it also has this slipping mechanic where you can jump around and collect points and at some point I want to put in that you can give out token and rewards, so make it play to earn and then have some staking in it as well. So I basically want to make a suite where everything is in that you need to build a game.Brian (10:37):And then as part of this too, you know, mentioned your work. You've done great open source work around the Unity SDK, integrating Phantom Deeplinks that in particular you also have a great YouTube channel where you go in depth since really long tutorials on actually bringing up your IDE and showing this is how I built the game. Walking through all the steps of that. Taking all that into consideration, you've built these games, you have these SDK tooling, and then you've also gone on the developer education front. What are you most excited looking forward in spending your next couple months in the Solana gaming space?Jonas (11:09):I want to build the perfect example game, basically. Where everything is in and which is actually also fun to play. Put it on all platforms. It's so difficult to get into the iOS store. You wouldn't believe I get like six, seven points every time I submit. And they definitely leave minting NFTs within their purchases I think. So that's one of the things I want to build next. And then just to get this game on all platforms, it's biggest challenge and goal for the next months. It's already in the Play Store, but on iOS it's definitely harder.Brian (11:43):Even us at Phantom building a crypto wallet, we've run into kind of unexplainable headaches with the App Store review process sometime. It's definitely a very opaque process. Definitely resonate with that. You've spoken a lot about cross platform and your game being a platform as well. Is there any one platform in particular you're most excited about for Web3 gaming looking ahead? You mentioned everyone has a mobile phone that in particular seems pretty compelling, but do you think mobile will be the first explosive growth phase of crypto gaming or what are your opinions on that?Jonas (12:13):Yeah, I think it will probably be mobile and I think you can't ignore iOS, just too many people have iOS. That's why I'm so amazed that everything works for Phantom on all platforms the same. But there could be... Unity can theoretically export to all platforms. So theoretically we could make a switch game, which facilitates Solana somehow. I don't think there's a phantom bullet for Switch yet, but theoretically it could be on all platforms. That would be really nice.Brian (12:38):I would love that. Yeah, Phantom on One Switch I think is going to be the next catchphrase that catches fire on Twitter here. I love that.Jonas (12:45):Exactly.Brian (12:46):This is awesome. Jonas, if you were having to talk to a Web3 developer today who's listen to this, they're interested in this, they have some game experience, but they're maybe not sure how to best to get involved with the Solana gaming space. What would you recommend is the first step for a new dev coming into this? To learn the ropes of Solana game development and to get involved with potentially a project or some direction and connecting with other devs in the space?Jonas (13:11):There are quite a few good YouTube channels to learn the basic…

    Full show notes at the publisher

    Vibhu Norby - Solana Spaces founder and CEO, Ep 11 Oct 11, 2022
    Show notes

    Episode Notes:Solana Spaces founder and CEO Vibhu Norby sits down with Brian Friel to talk about creating crypto’s first interactive retail experience that aims to onboard the next wave of users to web3.Show Notes:Brian Friel (00:06):Hey everyone and welcome to the Zeitgeist. The show where we highlight the founders, developers, and designers for pushing the Web3 space. I'm Brian Friel, Developer Relations at Phantom. I'm super excited to introduce our guest, Vibhu Norby. Vibhu is The founder and CEO of Solana Spaces. The first in real life crypto retail experience. Vibhu, welcome to the show.Vibhu Norby (00:27):Thanks Brian.Brian Friel (00:28):Real excited to talk to you today. I think of all our guests, you have some of the most unique backgrounds of somebody who's now full-time in crypto. If you don't mind, could you walk us through a little bit about who you are and your journey to what is now launching Solana Spaces?Vibhu Norby (00:41):Yeah, I definitely do. Our team is a different type of team from what you mostly see. I used to be a respectable tech entrepreneur raising VC from tier one firms and building cool companies, writing code for Google. And then sometime over the last two years, like everybody else, I became a degenerate crypto guy. Pretty much my whole life, I have been writing code since I was a kid, and my first job was at Roblox. Funnily enough, I built their collectable system back in 2009.Brian Friel (01:08):Wow.Vibhu Norby (01:08):This was a long time ago.Brian Friel (01:09):Sneak peak to NFTs.Vibhu Norby (01:11):Yeah. I worked at MySpace. My big break came when I joined a startup called Nest, which was the smart learning thermostat company that Google acquired while I was there, and I was still writing code there, but I kind of got interested in what we were doing with retail. I got exposed to a couple of projects that the company Google was doing to build out an experience inside a Best Buy and Target an Apple stores and so on. And I fell in love with the idea of building a physical store for hardware products.Vibhu Norby (01:43):So I left Google with a bunch of other people, and directly prior to Solana Spaces for seven years, I built this national retail chain called B8ta. We opened stores all over the country. Japan, Middle East, at some point we owned Toys R Us for a good six months, which was a very interesting project.Vibhu Norby (02:00):And then a lot of people during Covid started getting interested in crypto. First Ethereum and then Solana, and at some point B8ta, this was a physical retailer that was super affected by Covid. So I started thinking about what I want to do next and I was pretty convinced that I want to get into this space. And I tossed around a bunch of software ideas. I'm not really, by my nature, a physical retail person, but by chance, met Raj in November last year. Although we had talked a long time prior to that, at that moment we connected around building a IRL Solana store. Both thought it was an interesting enough and weird idea that had a very small chance of being important, and those are kind of the best ideas to build. So between November and March we figured out a deal with the Solana Foundation and created Solana Spaces.Brian Friel (02:53):That's awesome. If I'm not mistaken, it looks like you guys are already live in New York. You're planning a store in Miami, is that correct?Vibhu Norby (03:00):Yeah. We opened Solana Spaces at Hudson Yards at the end of July and that was our first store, and the next location opens the first or second week of October in Miami. And these are two very different spaces. The first one is a 1500 square foot retail space, very much a store in a major shopping mall. The location in Miami, we call the Solana Embassy, because it is the craziest store on planet Earth I believe. It is a store, it's a coworking lounge, it's a nightclub, it's the best events venue in Wynwood, and it's all dedicated to teaching people about Solana.Brian Friel (03:38):That's awesome. So like me as an end user, let's say I was walking through Hudson Yards, I see this store, can you paint a picture and walk us through what can I expect when I walk into one of these stores?Vibhu Norby (03:48):The store is modeled around being your first crypto friend. That was how we designed it. And we asked for ourselves, how do people get crypto pilled in the first place? And pretty much everyone will share a story of someone in their life or someone they knew that got them a Phantom wallet and gave them NFT or gave them some tokens. So we wanted to build that kind of experience for people that maybe don't have a crypto friend yet.Vibhu Norby (04:13):So when you walk in, first of all, the space looks unlike anything you've seen in a typical shopping center because it's full of NFT artwork. And we have this crazy immersion screen that shows you what's happening on Solana in real time. And then we've got amazing merch products everywhere. So it's got this stunning welcoming look. And when you come in, there's two paths you take.Vibhu Norby (04:37):One path is, you can come and learn about how blockchains work, if you have more time. If you have less time, which is the average person, your first step is going into the Phantom Seed Phrase booth, which is a privacy pod where in three minutes you learn about how to keep your seed phrase safe and you get little cards you can write it down on, and then we drop you a PO App for completing that. And after you exit the seed phrase booth, you can walk around the store and scan your phone at all these different tutorial displays, and each one of those will open the DApp Browser in Phantom Mobile, and walk you through a tutorial about Orca, about Step'n, about MetaPlex, about Degenerate Ape Academy, about Form Function, or any number of our other partners. And once you've completed those learning materials, we give you another NFT. It's all gas list, no transaction fees.Vibhu Norby (05:30):Once you've collected enough of those badges, you show our store ambassador and we'll give you USDC. So basically we are paying people to learn about crypto in the store. And this is literally a micro version of what a good friend is supposed to do, right? Give you their wallet, give you some NFTs, give you some money.Brian Friel (05:49):Right.Vibhu Norby (05:50):And of course if you want to, if you're a degenerate like me, you can also spend that money immediately on the merch in the store.Brian Friel (05:56):The shoes. I want the Solana shoes. I see those on Twitter and I'm pretty jealous.Vibhu Norby (06:01):Yeah. We've got the Solana shoes, we've got the best socks in crypto, we've got hats and designer wear. And everything in the store is something that we designed and is exclusively available there, so you can only get it in the store. So it's kind of worth your time to come out of your way and try this.Brian Friel (06:17):That's super cool. And was there anything in particular from your experience founding B8ta, that impacted this vision that you had for Solana stores?Vibhu Norby (06:24):Yeah. If you know what we kind of did at B8ta, this is in many ways a direct descendant. It's a more fleshed out version of some of the big ideas that we were on to. B8ta was a... and my team hates that I'm always talking about it, but it was important part of my life. I started it when I was 27 and kind of grew up with it. We raised a hundred million dollars of venture capital, we opened stores everywhere and we had quite a large team and made a big impact on industry. We were the National Retail Federations retailer of the year. And the thing that made B8ta very innovative at the time was we had re-engineered the store business model to basically run auctions on top of space, like physical space, and we'd sell the space to the highest bidder. And so it was a more accessible way for newer brands to enter into a store.Vibhu Norby (07:07):And what we did here was we fixed a bunch of the things that we didn't like about that model, and benefit from everything from the rewards layer that crypto can offer companies to some very, very wild things that we're doing that we have not announced yet that we will soon. But in fact, the whole business model of this company we have not revealed yet to the public. And that business model is going to blow people's minds. That is probably the thing that is the most built on top of the learnings of my previous venture, and it's really a big idea on how quickly could you grow a retail business.Brian Friel (07:42):That's really cool. That's quite the cliff hanger. I'm tempted to press you on that but I won't because we have a ton of stuff to get through already on this. But I am curious, switching back to, you show up to this store, you walk in for the first time. I'm sure you're seeing both people are completely new to crypto who just think this store is interesting and they want to walk in, then you know have the crypto native degenerates like yourself, me and people listening to this podcast. But for the folks who are new to crypto specifically and they're coming into the spaces, what do you find that is resonating with them the most and maybe what is giving them the most friction about this crypto experience?Vibhu Norby (08:13):I think the hardest part has been teaching people about how the blockchain works. I think I was a bit more optimistic that people will be interested in the technology, but what clearly resonates to me is without a doubt, NFTs is one thing to kind of read the news about NFTs and write them off as write click saving, why would you need this? I'll just save this image to my computer. But it's another thing for someone to open up a wallet and see that this is something that's theirs. Even if it's a worthless NFT, people connect with those. And there's something called the endowment effect in retail, which is why most stores are loosely optimized around getting you to put your hands on the products, because once you feel a shirt in an apparel store or you pick up a video game, and nobody buys video games in real life anymore, but at GameStop, there's like a little part of your brain that doesn't want to give it back.Vibhu Norby (09:11):So our job in the space is give you things, tell you that you own them and get that endowment effect started. We've had some really cool experiences that have been shared with us. We had a guy that came from Ethereum and he walked into the store, this was a couple weeks ago, and he maybe had heard about it, but he didn't have any of the Solana tooling and didn't have a Solana wallet, and all of a sudden he was telling us on Twitter that he was investigating all the NFT projects and Solana and he had applied for y00t lists, and I feel like he was fully down the rabbit hole, right?Brian Friel (09:45):One of us. Yeah, that's awesome.Vibhu Norby (09:47):That story we've heard a bunch of times. So I think NFTs and then the merch, I cannot tell you how surprised we were how much people love merch. I don't know, it doesn't matter whether you know about crypto or not, you know about Solana or not, people are coming in and buying the gear. And that's a beautiful thing because I think what it says to me is crypto is really a community building tool, and one of the ways to be part of the community is to wear the stuff that community wears, and that's another way to kind of participate. So we really do focus on making high quality stuff that people want that's eye catching and interesting. And if you walked in and you didn't understand the crypto stuff but you like the products, that's a win. We'll take it.Brian Friel (10:30):Yeah, that's cool. And I guess taking that a little bit further, the store is really highlighting the whole Solana ecosystem, but for a given crypto project, say there's a crypto project that's building on Solana right now listening to the podcast, should they be thinking about in real life retail experiences? I think this is something that has been basically on no one's radar in the crypto space for a really long time and you're showing that there might actually be a reason for individual projects to pay attention to this.Vibhu Norby (10:53):I think there has been a lot of theory. I mean we can talk about payments for example. Payments are theoretically the very best use case of crypto, whether that's like remittances or that's paying a vendor, and not to shill Solana, but I do love me Solana.Brian Friel (11:10):I will note real quick, you're not actually part of Solana even though it's called Solana Spaces, it's a separate organization. Just to make that clear.Vibhu Norby (11:18):Yes. But we did call the company Solana Spaces and it's pretty hard to go back at this point.Brian Friel (11:22):Yeah, right.Vibhu Norby (11:24):Yeah, I think Solana particularly should be an awesome tool for payments because the fees are basically zero and that certainly isn't true with even credit cards. So I think that was a hypothesis, but making that come to life for somebody and building a mental model for other businesses has yet to happen. So I think if you're a store or you're a cafe, you absolutely should be looking at Solana pay. The question on that side is, how does it benefit the consumer and how do you overcome that acquisition cost and time of getting someone to download Phantom and fund it and swap it over to USDC and all that kind of stuff. It's a lot of steps today.Vibhu Norby (12:00):The two areas I think that are interesting, one is merch, and I have to talk about that, but I think every NFT community should be thinking very hard about what experiences they can build that represent and amplify their brand and their ethos.Vibhu Norby (12:14):If the first month of the store taught us anything, it was that there's an intense passion for these projects and I would love to see that problem space explored. In the Embassy, we have a Degenerate Ape Cafe, and it's an NFT coffee shop. We'll serve you hot coffee. It's all a roast made by a community member and it's got the monolith designer coffee bags and-Brian Friel (12:35):Nice.Vibhu Norby (12:35):... it's designed out of crates. And we have these cool branded cups. I don't know if this made it into production, but at the bottom of the cup there was going to be a QR code that you could scan and get a proof of caffeine NFT.Brian Friel (12:47):Oh, that's a cool little Easter egg. Yeah, finish your drink and get that.Vibhu Norby (12:50):It kind of starts that way, but then you can imagine that maybe you can take your proof of caffeine badge and next time you come back you get a discount on it. So you start to build the rails of loyalty. I was sitting there waiting for NFT collections to break into IRO experiences, but at this point, we're just going to build all of them for the Solana community. Whatever they want to build, IRL, they need to come talk to us because we are very much interested in setting examples for what this space will look like in the future.Brian Friel (13:19):So thinking five to 10 years out, I know that's a really big ask in crypto, but how do you see these two worlds converging? Right now, I'd say that most of crypto culture lives on Twitter and you guys are making really big inroads into the retail space. Do you see you guys really catalyzing that and most projects going through you? Do you see individual NFT collections spinning up their own entities to handle in real life venues? How do you see about five, 10 years out…

    Full show notes at the publisher

    CrassKitty - Degenerate Ape Academy Co-Founder Sep 16, 2022
    Show notes

    Degenerate Ape Academy made history as the first major project to kickoff the Solana NFT phenomenon. Co-founder and head of product, CrassKitty joins Brian Friel to talk eggs, The Hatchening, and what to expect next in The Degeniverse.Show Notes:01:01 - Origin Story 04:45 - Why she changed her mind of crypto06:27 - What is special about DAA? 08:12 - The early days at DAA 10:51 - Future of NFTs 11:52 - Projects DAA been working on 15:31 - Bridging the digital and physical world19:53 - Advice to new projects / Challenges in the space21:52 - The vision for the future of DAA 22:46 - A builder that she admires 24:09 - Info / Contact Full Transcript: Brian: (00:05)Hey, everyone, and welcome to the Zeitgeist, the show where we highlight the founders, developers, and designers who are pushing the web 3.0 Space forward. I'm Brian Friel, developer of relations at Phantom, and I'm super excited to introduce our guest today, Crass Kitty. Crass Kitty is the co-founder and head of product at Degenerate Ape Academy, one of the earliest and most well-known NFT collections on Solana. Crass Kitty, welcome to the show.Crass Kitty: (00:28)Hello, Brian. Nice to see you again. I hope you're doing well.Brian: (00:32)Likewise. Great to see you too. For those who don't know, Crass Kitty graced us with her presence at our Solana Summer Camp Hackathon in San Francisco. We'll be posting some of the workshops that she did to YouTube, but it's great to see you again. I'm really excited about this episode. For those of you who were around Solana last year in August 2021, Degen Ape Academy I think really kicked off the whole Solana NFT boom that we all know and love today. You guys have a ton of interesting projects in the works today as well, but before we dive into all that, it would be really great to learn a little bit about you. Who are you and how did you get started with Degenerate Ape Academy?Crass Kitty: (01:07)Man, who am I? I'm a product nerd who loves the color pink. You guys can't see me, but Brian can, and my office is mostly pink, including my headphones. Other than that, I jived a little bit into product after that with a company called Bebo, which was later acquired by Twitch to become Twitch rivals, using their machine learning to detect if you make kills on-screen. And from there, I worked at FetLife and later at NEAR Protocol, which is where I got my first venture into crypto.Crass Kitty: (01:35)I actually thought crypto was totally a scam. When I first was joining NEAR, I was like, "This is a scam. There's no way. This has to be a scam." And I was one of the first 10 team members at NEAR and towards two weeks into my contract, there was this pivotal moment and I realized that like, "Oh, shit. It's not a scam." Sorry. Am I allowed to curse on this podcast?Brian: (01:55)You are. Don't hold back. You're good.Crass Kitty: (01:57)Okay, cool. Good. Thank goodness. I am Crass Kitty after all. For those that don't know, crass means inappropriate, uncouth, likely to curse. Anyways, yeah. I worked at NEAR, launched an NFT marketplace called Pluminite, which was the first open-source NFT marketplace on NEAR. And when I left NEAR, I took a little hiatus, then started looking for my next role. And I knew I wanted to be in crypto. I had found a really deep passion here for product work in crypto and so I reached out to Solana. Got an interview with Stephen Hess who was head of product at Solana at the time and things were going great. Great interviews. And then I took a vacation and he took a vacation and three months rolled by and I was like, "All right. This has been a while."Crass Kitty: (02:43)So, I hit him up and I was like, "Yo, Stephen, what's up here?" And he was like, "We're taking a while because it looks like I'm going to be starting this thing called Metaplex." And I was like, "Oh, cool. Sick." And he's like, "Yeah, but there's these guys who need you." And I was like, "Oh." And he's like, "Yeah, they're called Degenerate Ape Academy." And I was like, "All right. Sounds fun. Can you tell me more? Is there a salary? Is there insurance?" He's like, "Nah, there's none of that." And I'm like, "Risky. I'm into it. Let's go." And so I get on a call with Monoliff. Monoliff and I have one call before I joined as a co-founder and a team member and head of product.Crass Kitty: (03:13)On this call, he's talking to me about all this. And I'm just like, "This sounds like the riskiest thing I've ever heard of." He's like, "Yeah, we basically just minted out on our second mint because we messed up our first mint" and I'm thinking to myself, "Okay, that's scary." And then he's like, "And I promised him this 3D academy" and I'm like, "That sounds cool." And he is like, "But also we made duplicates in the NFT collection." I'm like, "That does not sound as cool." And he's like, "So, we have to create lore and tell them that they get to earn extra perks for having these duplicates." And I'm like, "Okay, I like the story spinning." Anyways, this call is very enlightening for me.Crass Kitty: (03:45)I think a more sane person probably would've walked away at that point but, like I said, I'm not risk-averse and maybe a little bit less sane than other people. And I was like, "Yeah, sure. This sounds fun. Why not?" And so I joined and I don't think fun is the right word to describe my job. I think it is organized chaos in the best possible way and as somebody who has always described themselves as somebody who sits in the eye of a hurricane and coordinates it, it works really well for me. Product managers typically herd cats. I herd apes. It goes well-ish or as well as I can expect. So, that is me. That's how I got here, and yeah. That's my story.Brian: (04:20)I love that line, herding apes instead of cats. There's a lot of really cool stuff we can dive into with DAA but maybe before we get into all that, you have a really interesting journey. You hit on starting as a Twitch partner, getting into everything at Twitch and the gaming side of things, and then being really early to building NFT marketplaces, but you did mention at one point you thought crypto was a scam. What changed your mind on all that? And it seems like you pretty early gravitated to NFTs, maybe before a lot of the mainstream did. Was that related to you changing your mind on why crypto's a scam?Crass Kitty: (04:51)I've talked about this in other interviews. So, before I was a Twitch partner, I was actually a stripper and a cam girl. This is full disclosure here. And one of the biggest struggles that I've seen in that industry is that Visa and MasterCard limit who can get paid. They just say, "You can't get paid if you're a sex worker." Basically, if you get paid in PayPal and somebody charges back and says it was for camgirling, PayPal will freeze all your accounts and freeze your whole assets. So, I know that's 18-plus, but my moment for knowing it wasn't a scam was when I was talking to engineers at NEAR about what censorship-resistant payments meant and realizing that it meant that creators like adult content creators but also Twitch partners, anybody who is a creator in the creator ecosystem, would be able to get paid safely, ethically, and also without limitation.Crass Kitty: (05:37)And that blew my mind. It was just like, "Wait a minute. There's a solution to this problem that I've known about for literally a decade? What?" And so, that was really phenomenal to me. That's like ... I don't know, very near and dear to my heart. It's like the reason I joined crypto. It also feels like it ties the beginning of my origin story to the end or to the point where I'm reaching the hero arc, and that feels cool.Brian: (05:58)That's awesome. Yeah. That's a really unique perspective on the space. Diving now into NFTs, you started your own marketplace, I presume on NEAR. Then, you get involved with DAA at a time when they're trying to carve their own path. They're one of the first major NFT collections on Solana. Everyone's figuring this out. I think at this time Metaplex maybe was just getting started.Crass Kitty: (06:19)Oh yeah, barely.Brian: (06:20)You mentioned Steven Hess who's now the CEO of Metaplex, but at the time he was at Solana. So, in your own words, what is Degenerate Ape Academy? What makes you guys unique in the NFT space?Crass Kitty: (06:33)If you go to our website, it says our mission is simple and that is to fuck shit up. Put 10,000 degenerates on this planet and let them fuck shit up. And I wish I could say as a product nerd, that was not the case internally as well, but it's totally the case internally. Constantly as a product nerd, as a product person, it's my job to organize all the chaos. Probably some of the hardest organizational work I've ever worked on in terms of making sure that we've literally scoped out, probably, I don't know, eight different theories since we released the eggs in January of what we were going to do next. And we'll be in the middle of building it or in the middle of scoping it, and then a wrecking ball comes through that is in the form of a team member, and it'll be like, "Okay, this is cool. But what if we did like this?"Crass Kitty: (07:17)So, lots of fucking shit up basically. Degenerate apes though, as a culture, as a brand, as a project, as a company, I think ultimately, we're a place for those that maybe have always been a little bit on the edge of life. Maybe you are a cool person who gets along with everybody but have a more degenerate side. I think we're a home for everybody who identifies with that. And I think that's something that is a testament to our success is the fact that we not only are a home to that, but we lean into it.Crass Kitty: (07:45)I worked at FetLife. For those that know what that is, you don't have to dox yourself, but it's kinky Facebook basically. It's BDSM Facebook. I am a degenerate at heart and being able to work on a project that leans into, owns, and accepts their own degeneracies has just been an absolute delight.Brian: (08:00)So, what was it like in those early days when you guys were just getting started? There was basically no tools out there for NFT creators like yourselves. Like I said earlier, you guys were pioneers in this space. For those who weren't there in August 2021, walk us through those early days, what you guys had to get through.Crass Kitty: (08:18)So, we had just minted our second mint successfully-ish, but the first mint was kind of a mess up. Some apes snuck through, as we say, and those became the exiled apes. So, we basically in those early days were trying to figure it out internally while also trying to make sure externally that a story was always told. So, Monoliff was really good at spinning lore and spinning our mistakes into lore. So, in those early days, I would say our work from the product perspective was very reactive. So, it was like, "Okay, we have exiles. Now we have to create a dow so that they can vote on what to do with these exiles. Do we let them in the collection? Do we not? Let's put that into a decentralized autonomous organization organization." Which is the DAOO if you don't know. Organization organization twice is a personal enjoyment of mine that we wrote in a product requirement document.Crass Kitty: (09:04)Anyways, that was a thing. And then figuring out what to do with twins, because we had duplicated some of these apes in this 10002nd collection. And so how do we make those twins more valuable while also making sure that people don't feel like they got gypped because they got the same ape as somebody else? We pulled that off, but like I said, a lot of it was very reactionary work. I would say, as a company, as a product team, we are now very proactive, which has been an interesting shift.Crass Kitty: (09:31)If you've ever worked at a startup and gone from being reactionary to proactive, there's usually a rough patch there where you're trying to figure out, "Well, what do I not react to and what do I be proactive for?" We did have that rough patch. It's like we're in a horse race and the horse that was in the middle front was slowing down a little bit and then found a new burst of energy and rushed to the front. That's literally where I feel like right now as a product cycle. We're at this point where we're literally shipping things every couple of days right now internally for testing, things are coming along really quickly.Crass Kitty: (10:01)We've figured out our marketing strategy. There's something called love bombing that I don't even know if I'm supposed to talk about, but we're doing this where we give these teasers, give these moments, give these loving attention moments to our community, and then leave them with a little bit of chaos and wondering, "Why don't they love me now?" And so, we've identified this as our strategy and that's working for us. Moving forward with this proactive approach, it means that as we build products, I now actually get to share screenshots or progress pieces, and instead of delivering this perfect thing as a reaction to something that we fucked up before. Does that make sense?Brian: (10:35)Yeah. No. I'd love to dive into a lot of that now, too. I think we covered the early days, the wild west of the NFT space, but let's bring it forward to today. How do you see the current state of NFTs broadly? What's in the future for NFTs? And then, what are you excited about both maybe across the ecosystem and specifically with DAA and some of these upcoming product releases that you guys are working on?Crass Kitty: (10:57)Well, we are in a bear market. I think we can all acknowledge we're in probably one of the worst bear markets to be in because previous bear markets have existed, but there weren't a ton of builders at that time and so there weren't a ton of consumers of products that were being built. So, the disappointment for a bear market before, while big, was also not I think as widely spread on Twitter and social media and people you talk to in real life if you're lucky enough to know people in real life who know about crypto. So, now I think the reason I say it's one of the worst bear markets is not just the financial implication, but also the social implication.Crass Kitty: (11:29)We're in this really interesting period where people are aware of what's going on and they're aware of crypto and they're aware of NFTs and there's so many builders in the space and a lot of people are feeling scared and worried about the state of the world and also the state of the crypto market. And I think that's fair. Yeah. I think that's the current state of the market.Brian: (11:49)And then, I guess diving a little bit into DAA and some of the guys you were building throughout this bear, can you shed a little bit of light on some of those projects, what you guys have been up to?Crass Kitty: (11:58)Yeah. So, I mean, like I said, because it is a bear, pay attention to the builders in this space, pay attention to the people who are still here in five months, six months, a year. Those are the people who are building sustainable products and that's what we've really focused on. I think previously…

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    Michael Wagner - Star Atlas founder and CEO, Ep 9 Sep 08, 2022
    Show notes

    Brian Friel sits down with Star Atlas founder and CEO Michael Wagner to learn about what it's like building web3’s first giant strategy MMO on Solana.Show Notes:0:58 - What is Star Atlas? 03:44 - Background / Founders of SA 07:01 - Going for a AAA game 09:32 - Phantom integration in Star Atlas10:20 - Recent events, achievements and releases15:08 - The DAO 19:27 - Interacting with the SA ecosystem23:44 - Star Atlas, AAA gaming and Web 3.028:09 - Builders he admires Full Transcript: Brian (00:05):Hey everyone. Welcome back to The Zeitgeist, the show where we highlight the founders, developers, and designers who are pushing the web 3.0 space forward. I'm Brian Friel, Developer Relations at Phantom, and I'm super excited to introduce my guest, Michael Wagner. Michael is the founder and CEO of Star Atlas, one of the most ambitious games being built on Solana and in web 3.0 in general. Michael, welcome to the show.Michael (00:29):Hey, Brian. Fantastic to be here and really looking forward to our conversation.Brian (00:33):I'm really excited as well. You guys are building something that a lot of people on Solana are really excited about. Anatoly, our first guest, actually quoted you guys as saying that he thinks you guys are "the most ambitious project being built on Solana maybe just outside of Serum." But for maybe listeners who are unfamiliar with Star Atlas, could you give us a quick breakdown on, what is, in your own world, what is Star Atlas, and how does it maybe differ from other crypto-based games that are out there?Michael (00:57):Yeah. Just on that interpretation of being the most ambitious project, I think that again, that is very subject to interpretation. It is a large vision. It's a very grand vision with a long roadmap ahead of us. Some people, I think, might be concerned about the grandiosity of the underlying vision itself. But we have a lot of confidence in what we're doing and the progress we've made and features and products we've launched and the success we've had to date. So, with that being said, let me just start with the flagship component of what we're building here at Automata, the studio behind Star Atlas, which is a grand strategy, space exploration, massively multiplayer online game.Michael (01:32):And we're building that in Unreal Engine 5. We've been building in UE 5 since early access and of course, building on the Solana blockchain. And one of the really pioneering gaming groups and projects to adopt Solana as our layer one protocol, going all the way back to 2020.Michael (01:47):Now, within this giant strategy MMO, you'll be navigating the stars, you'll be flying your ships. Which, by the way, all of the assets in the game are non-fungible tokens or NFTs. So, flying your ships and operating your land and outfitting your ships with crew members and components and modules, leveling up, progressing, getting new attributes and enhancements, and moving your way through skill trees. So, anybody who's a fan out there of MMOs will be familiar with these gameplay mechanics. But I do want to clarify that, although the Unreal Engine product is our flagship, it is our North Star, it's where we're focusing the majority of our energy, we actually develop across really five different segments within our business. And so, Unreal Engine or the fully immersive triple A game is one of those. We're also building out gameplay modals in browser as well.Michael (02:32):We're using Play Canvas as the game development engine there, and it's fully 3D-enabled, WebGL-based assets. And we actually have a release that's planned for this year; up and coming, anyway. And I'm sure we can get more into what that will look like, later in the conversation. But we also build infrastructure tools, architecture, primitives, that are essential to developing and refining the ecosystem and really encouraging innovation and development around all that we're building at Star Atlas.Michael (02:59):We have a marketplace that we've custom-created from scratch, built from the ground up. And then we also have a mobile gaming division as well. So, obviously a lot there; encompasses a lot. As I said, very big vision. But we're also very surgical in how we approach this and tactical in how we tackle these challenges that are in front of us.Brian (03:15):Yeah. No, I'm super excited about that. And you mentioned a call to arms for MMO-based players out there. I used to be a big wild player back in the day. I totally think this is a really awesome vision. Letting these end users level up in a way that they owning the NFTs that they have and having this be very user-centric, I think,Brian (03:31):Is a really revolutionary model. Before we dive into all of that, could you give us a little background on maybe who you are and who the rest of the founders were, and how did you all decide, "Now is the time that we want to build this game on Solana?"Michael (03:44):Sure. I'll be brief here. I will say my background is in traditional finance. Previously worked in portfolio management. I hold this chartered financial analyst designation, so really expertise in all things investment management and investment analysis decision-making. But the more exciting part of my life started back in 2013, when I got introduced to Bitcoin and cryptocurrencies and really SCRYPT coin mining with GPUs.Michael (04:07):Now, I grew up as a big computer nerd and part of a computer gaming group. Built all my PCs as I was growing up. And we would spend our weekends playing video games and drinking Mountain Dew. And those were our parties. So, one of my buddies from back in that era introduced this idea of building out SCRYPT coin rigs in milk crates. And so, it didn't take me long to essentially sink every penny I had into buying GPUs and just putting these rigs together and getting involved in the blockchain ecosystem. Terrible timing for me. It was immediately preceding the collapse of Mt. Gox in 2013, the largest Fiat on-ramp and exchange at the time.Michael (04:43):And we went through, one of many that I've experienced now, crypto winters and bear cycles. But my interest was certainly captivated. And I just spent the next couple of years learning as much as I could and by 2015 had made the decision to go full-time crypto. 2016 I launched my first company in the space, which was at the center of the legal cannabis industry in crypto, providing financial solutions there. And it was really through that company, and through a series of acquisitions, that I onboarded two individuals who went on to co-found Star Atlas with me. That's Danny Floyd, who's our chief product officer and Jacob Floyd, who's our chief technology officer. And also, along that path, I got connected with Pablo Queiroga, coincidentally, serendipitously, you might say, in Las Vegas, actually in a coffee shop. Just overheard him having a conversation about one of his ventures that he was working on.Michael (05:29):And that was in 2018. But really just fast forward a couple of years: 2020, we're in the middle of the pandemic. The company that I had previously founded, called Tokes, things were moving a bit slow. And just given where our passions, interests, and expertise lie, particularly with Jacob, Danny, and myself, who were all working on Tokes at the time, and understanding, seeing the trends that were moving forward across the crypto space, which was predominantly DeFi, NFTs were up-and-coming in a very nascent stage of blockchain gaming. We just felt that we could actually build something bigger and better. And that was the idea of, "Let's bring a AAA MMO to the blockchain." And by the end of that year, Pablo was fully recruited onto the co-founding team as well. And we had our formal debut in January of 2021. And the team is now about 240 people strong.Brian (06:18):Wow. That is seriously impressive. Like you said, January, 2021, I think you guys were one of the earliest, serious projects that planted your flag on Solana. I'm curious, shifting over to the product now, in addition to being earliest Solana, I think you guys, like you said, you're also early to bringing a AAA game into the blockchain context. In particular, I think you're one of the first major games that is building in Unity Engine 5 and trying to combine that with a crypto world that is normally very web-based. Like you said, you guys are doing some stuff in Canvas and WebGL as well. Can you talk a little bit about that decision to go AAA, to go to the top, Unity Engine 5, and how that implications are for your project?Michael (07:00):Well, I think one of the valid criticisms that exist in, really from the traditional gaming community, but even within this crypto ecosphere, if you will, is that the gameplay mechanics that were present back at that time and even persist through to this day is that they're relatively simple mechanics: a lot of turn-based games, a lot of card-style games. But more importantly, they emphasized the financial components of the gameplay. The idea of play-to-earn, the emergence of play-to-earn. Emphasizing the ability to earn, instead of emphasizing what we feel is most important, which is creating and entertaining an engaging gameplay environment. And so, making a fun game.Michael (07:39):And for us, we're extremely passionate about what we're doing. But a large part of that is we're building the game that we want to play as well. This is essentially living the dream, being able to create the product that we will one day be participating in as well. And we're just extremely excited about it.Michael (07:56):So, the choice at the time was really between Unity and Unreal Engine. Videos were coming out around UE 5, which was not yet released when we started conceptualizing all of this. But there's a couple of pieces of fundamental technology that are coming with UE 5, like Nanite, which is the way that assets are rendered. Polygons are rendered in the game environment. And what is going to be possible in terms of visual fidelity? And so, that was really important, as well as Lumen; is another technology that's new to U E 5, which is the way that light essentially reflects and reacts within the game environment as well.Michael (08:27):And there's a couple of additional pieces there. But what we saw was the potential to create an immersive digital reality, cinematic quality reality. UE 5 is the next generation of gaming, with or without blockchain. Now, what we are doing, adding the fundamentals of blockchain for true asset ownership for a digital asset native economy and for on-chain mechanics that can initiate ecosystem-wide contributions and development to the gaming product itself; we think that is absolutely incredible and will lead to an explosion of growth over time, beyond just the game product itself. But we just saw UE as the best game engine to build within, especially with the opportunities that were present at the time and into the immediate future.Brian (09:08):Yeah. Well, I love that philosophy of building a game that you would want to play and then choosing the right tool for the job there. From the Phantom side, we've definitely seen that interest as well. Just from the metrics that we see of who's using Phantom, what they're connecting to, throughout the last year, Star Atlas is always one of the top projects that people are connecting to. And they're wanting to view their ships, they're super excited about this, and I think you guys have a ton of great momentum into building with Unreal here.Michael (09:31):Big shout out to you guys, if I may just take a moment. Because Phantom came onto the scene. It wasn't the first wallet, but it was, and I think continues to be, the best UI web wallet for the Solana ecosystem. It was already in demand from our users. It was a pretty simple decision for us to integrate. And you guys see the data on your side. We see the data on our analytics. And I think something like 95% of the user base of a couple hundred thousand people across the Star Atlas ecosystem are using Phantom as a wallet. So, big credit to you guys for what you've been able to accomplish there.Brian (10:01):Oh, thanks. Let's keep it going. Let's get gaming on Solana for... I think there's a lot of folks who are really excited about this. I guess, following on that thread, it's been a really busy summer for you guys, across a lot of different aspects. Can you tell us a little bit about some of this events that you guys have had back in June? Specifically, I've seen a lot of noise around 426; maybe what that is, for some folks who are unfamiliar with that?Michael (10:20):Sure. Yeah. I guess just to preface it all, I will mention that we've built a lot, as I've said. We have a lot to continue to build. And we have a community that has been cultivated that is very passionate and enthusiastic, but that also we need to cater to. And so, it's very important for us to interact regularly with our community, engage with our community, keep them informed of the process. And this is truly one of the first times in history, I believe, where a large user base and community is getting the backstage access into the actual process of building a game as complex as Star Atlas.Michael (10:53):And so, a part of that as well is that we're really fostering this ecosystem for collective gameplay. So, guilds: encouraging the gamers to join forces to play across this universe that we're building right now.Michael (11:07):And so, the first event that we hosted this year was called COPA, the Council of Peace Assembly. And this really was a showcase, a place for guilds to highlight the innovation that they're bringing, their recruiting strategies, their intended methods of engaging with a game, of which there are many. We have 28 different career paths in the game that you can take and many different options for player vs. environment, single-player missions that are all scoped out, from deep space PVP with permanent death and destruction of your assets. And so, how you choose to engage is it's really entirely up to the user; there's plentiful options. But doing so with a community and group of other players is probably going to be to the benefit of everyone involved.Michael (11:48):And so, we're really looking to cultivate these relationships between members and help guilds recruit and bring more people in and create strong bonds with their members. And Council of Peace Assembly was an event that was dedicated exclusively to the guilds.Michael (12:01):We sent out a request to all the guilds across our ecosystem. We had 39 submissions from groups that wanted to present their vision for participation in Star Atlas. We had to narrow that down, so we selected 15, based on a set of criteria of presentation materials. And then we hosted an all-day event. We brought in some friends and family and existing partners and some new partners. Relationship with iBUYPOWER, which is one of the largest PC manufacturers in the world, for some custom-branded Star Atlas gear. We actually gave away a top of the line, 3090 Ti-equipped PC to one community member. It was an absolute beast of a machine. I'm kind of jealous, envious that I couldn't win it myself. But-Brian (12:40):Yeah. Yeah, right.Michael (12:42):... great PC. But in any event, the whole point is it was a eight-hour event. 15 different guilds presented, and we had some activities in between and sidetracks that people could participate in. But it was these guilds just presenting, again, their intended approach to Star Atlas, whether that's playing the game, creating a business, creating…

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    DraxxTS - Famous Foxes Federation Co-founder, Ep. 8 Aug 23, 2022
    Show notes

    Brian Friel sits down with Famous Foxes Federation Co-founder DraxxTS to hear how he built one of the most admired NFT projects on Solana.Show Notes:01:19 - Origin Story / Background 06:41 - What is Famous Fox? 08:15 - The importance of the community 10:01 - The Team 13:08 - Top utilities available to users 17:47 - How Famous Fox approaches collaborations 20:33 - How to decide what to build? 23:21 - The future of NFTs 27:08 - Builders DraxxTS admires 28:09 Info and contact Full Transcript:Brian (00:06):Hey everyone. Welcome back to The Zeitgeist, the show where we highlight the founders, developers and designers who are pushing the web three space forward. I'm Brian Friel developer relations at Phantom. Today, we have a very special guest, the co-founder and general of the Famous Fox Federation, DraxxTS. DraxxTS, welcome to the show.DraxxTS (00:27):Thanks for having me, Brian. Appreciate it.Brian (00:27):Thanks for coming on. I'm really excited about this episode today. You guys are a well-known NFT collection that has really come to embody the builder spirit on Solana. Before we get into all that, I think it'd be great if you could walk us through a little bit about your background, who you are and how you got started with Famous Foxes.DraxxTS (00:44):Yeah. Excellent. I'd love to, so my name DraxxTS, co-founder of Famous Fox Federation, like you had pointed out. As far as my background goes, my degrees, if you will, an undergraduate in electrical engineering and actually my graduate degree is in business and finance. And realistically, I've been in the web3 space slash-like involved with crypto since like early 2017. I've always kind of had a passion for investment products and such. And so late 2016, I actually had gotten more into Bitcoin Ethereum and just like the concepts of them, but didn't dip my feet in until early 2017 and really just been part of different groups for trading crypto and such in last year had just seen so much of a general interest happen with NFTs. I was around when CryptoPunks first came out, never bought any, unfortunately.Brian (01:37):You and me both, don't worry.DraxxTS (01:38):Yeah. And there were a bunch of them, but at the time, to me didn't really make much sense just like what they were. Who's going to spend $50 on a picture? In hindsight, obviously it was a mistake, but last year, part of one of the crypto groups I was in, actually, it kind of started up like a little bit of a fund for like trading NFTs and someone was a designated trader and everyone else just funded them and they were trading CryptoPunks and they were making like almost an ETH profit power. And that was when punks were like around 10, 11, 12 ETH or something like that. So they were doing quite well with it. And one day, I think they had eight punks in total. They all sold out and the trader didn't want to get back in. So they dissolved it and paid everyone their profits and that kind of went on.DraxxTS (02:20):And for me, the idea that they all sold out on a day and the floor price had pumped them kind of like, why? These things were going for 20, 30 ETH and didn't make any sense to me as to why people were paying so much money for it because I just really didn't understand what NFTs were about. And so since that time frame, that was probably early summer of last year, of 2021, just kind of wanted to learn more about NFTs and about Ethereum and about like the way that the chain works and all that kind of fun stuff and had met Dev and at the time our artist for creating our collection through just trading groups that we were part of for crypto. We talk often and understood that we have a pretty diverse skill set between us to possibly make something that's worth value to the space.DraxxTS (03:12):And that's really where Foxes were born. We actually were planning on doing our collection on ETH because we really wanted to do Solana, but at the time Solana seemed more of a country club and mints were quite challenging to do since it was so brand new. I think most of the original collections had minted early August. And so we determined that we were going to start doing a project around that time and we really wanted to be on Solana. Because we saw the benefits of the chain, the speed you could do the pricing of transactions. There were just so many benefits to it from really what we determined could be our strong suit from a builder's side, but we still thought there was enough opportunity on ETH to get involved, looking at how L2s were working and developing.DraxxTS (03:57):We just saw there was a potential opportunity there. And I think it was like midway through September, just saw an opportunity open up and Solana became a little bit easier to get onto. And so we just pivoted our marketing towards SOL. I think we probably did onboard some ETH people into SOL at the time. And then from there we just built out our product. I mean our roadmap one, which I know we'll probably talk a little bit more in-depth on some items we far surpass that. As far as the under promise over deliver aspect, that's always been part of our ethos. And once we had created our project, we just wanted to be as creative as possible and to create as much value as we could have.DraxxTS (04:37):And our Mint price was one SOL at the time. I think SOL was around $160 and originally it was two SOL, we cut it in half and then air dropped out part of our collection for folks that had minted originally, but we just were not priced properly in the market. And we've kind of been just building out really unique tools and a fun way of building out our brand through some of the other pieces such as missions, which I think are one of our most popular benefits for our collection as far as Fox holders go. And yeah, so we've kind of had an idea for what we wanted to do on our roadmap V one and we've far destroyed that. And then for our roadmap V2, we wanted to get more buy-in from our community. We got a ton of buy-in and we've been exceeding that one as well. We still have some items left open on our roadmap V2, but the builder aspect for our products has for sure been our strong point. And I think it's kind of garnished a lot of trust and respect within this Solana ecosystem.Brian (05:34):Yeah, absolutely. So you mentioned, this time going back to summer 2021, I think a lot of people first recognized Solana around that same time. It was right in this crazy way where the mainstream world was discovering what NFTs were. You mentioned that prices were doing these ridiculous things. Some people decided to leave projects around this time. You guys came in and really buckled down and built a project that has really built this lasting community on Solana. In your own words, what is Famous Foxes? How would you describe it to somebody who's maybe not familiar with the NFT space at all?DraxxTS (06:06):So my definition for Foxes kinds of changes every once in a while. And I think it just really depends on how much we've built and seeing the value that we've created for the space. Right now, I kind of almost consider us like a Swiss Army knife of NFTs within the Solana ecosystem, both from a creative side that we just kind of develop really unique tools for folks to try to make their life easier. We've been early for a lot of different tools that we've created. And then at the same time we have a sustainable model to be able to give a good bit of benefits to our holders outside of just our tool usage. Because I think that kind of concept has been an interest in a lot of projects and once they run out of funds then that project kind of really does end up dying for the most part.DraxxTS (06:57):And so for us, I would kind of consider us like a Swiss Army knife of Solana tools. I think our community is amazing. I think they're probably our largest asset realistically within the space and we're very flexible, adaptable, creative, and I think a very well, trusted brand if I will, within the Solana ecosystem. Whenever we put out a new tool, people don't really question it for the most part. If it's something that they've been interested in trying to use, they just go in and use it and we usually get really good feedback for it.Brian (07:30):Yeah, no, that's awesome. I think, me personally, the a-ha moment that kind of clicked for me with NFTs – I used to be a bit of a wild gamer growing up. I think a lot of folks in this space have some sort of like MMO gaming experience, but this concept of having a guild, like a community that you kind of trust that you kind of build tools together and use these tools together, you can go further in this, exploring a new space then that you can on your own.DraxxTS (07:55):Yeah, 100%. IBrian (07:56):I don't know how you feel about that.DraxxTS (07:57):Yeah, I was going to say I actually was a RuneScape player.Brian (08:00):Okay. There you go.DraxxTS (08:01):I've put in probably close to 4,000 hours in RuneScape from back in the day. So yeah, 100% agree with you and I think that's a really good way of looking at it. A lot of products really just refer to them as community, but I really do think it is more so like a guild when you look at certain projects like ours, for example, even though we are primarily like a utility project currently, we have a lot of the branding for our PFPs and such.DraxxTS (08:27):And so it also promotes our brand by having people use our NFTs as their own individual identities within the digital space. And I think that's kind of critical for a lot of projects because when you look at most utility plays, they aren't primarily a PFP project or that have PFPs associated with them. So, knowing who's part of that community can be kind of challenging. And then also the people that are in there as they represent that brand, it does reflect what you've been creating as well as a project creator.Brian (09:04):Yeah, totally. No, I think it's a very internet native phenomenon, but it's a way that you can recognize people online, know that you have these shared experiences and know you're working together cooperatively, which is pretty cool to see. You mentioned back in the day it was yourself, I believe, was it two other co-founders, Dev, and you also had an artist as well, is that correct?DraxxTS (09:25):That is correct. Yeah. So we were three original co-founders and we had at the time, I want to say about 10 or so, like moderators and other folks had helped our team out for our marketing and community management and all that kind of fun stuff. The team has kind of shifted around quite a bit since then. I want to say right now we're probably pushing 15 total between marketing, creatives, additional developers, system admins, and then moderators as well. So yeah, we've got quite a sizable team, but we're also now only two co-founders that are left for our project at the top.Brian (10:03):That's really cool. And how have you gone about assembling this team? Are these folks from the community that you've engaged with? I think building an NFT team is a bit of a new field and you guys are a bit of a pioneer here. Do you have any advice for other teams who are looking to grow their project? How have you guys gone about assembling your team?DraxxTS (10:23):Yeah, that's a fantastic question. For the most part. The answer there is yes, it's folks from our community. I think that's what we've come to understand. The people that are the most interested. If you look at the way structures are, I'll say with most NFT projects, they're not really able to offer equity in a company or what have you to people that want to participate. And usually that's an incentive for people to participate more because then they get more of a reward from it.DraxxTS (10:54):So we just see a lot more value for people that have been a part of our community. Even if they've only been doing it for themselves, from a creative angle, from a marketing angle, from a developer angle, people can be involved in other projects and things might not work out, but if they've been part of our community, they understand our core OGs that we have, they understand the structure, they understand the way that our community typically is being helpful and respectful on the space and having a little bit of a builder's mindset, because everyone in our space certainly likes to provide feedback on ways we can improve what we've created.DraxxTS (11:31):And I think that's kind of critical for us as a brand to keep continuing to have that general mindset within our team. I think it's kind of important. I think you can bring on outside people. I think you just have to be a little bit more mindful as to who you're bringing on and you know, as long as they understand your core business, they're dedicated with what you guys are doing, then they're going to be a perfect fit. And I would highly suggest that too, especially for folks that are building new brands or new products within the space, you want to have someone that's more than just an advisor. And if there are ways you can give them a little bit more skin in the game, you definitely want to try to do that as best as possible.Brian (12:39):Let's switch gears a little bit and talk about some of these features that you guys have built. Famous Foxes is quote, unquote, "famous for building so many features and utilities into the project." If you go to your guys' website, you can see tons of tools that let you do easy minting, swapping, sending raffling messaging, all kinds of things that can extend the functionality of apps. And while it's like Phantom, you guys have also built missions into your guys' site. What do you guys see as some of your top utilities and features that your community is most excited about?DraxxTS (13:09):Yeah, that's awesome question. So for us, we do kind of see ever evolving metas. So I'll go with, based off what is currently true for our project. I think the number one utility from like a SOL volumes perspective would be our peer-to-peer swapping platform, Foxy Swap. So that's been something that we've also had to create a separate Twitter channel for. And it's one of our oldest utilities that believe it's actually the second utility we've created for our project, but on any given day, we can have up to 10,000 -ish SOL of NFTs that get swapped on that platform. So it's a way for a trusted peer-to-peer way for people to swap. We don't have a platform that's created to find these different individual trades.DraxxTS (13:55):Everyone finds them on their own. It's not to miss out on anything in particular, it's just for people seeking different NFTs and a lot of times too, you'll have swaps from NFTs to NFTs or like a combo deal might be like a five for one kind of deal. Based off the way a transaction is created on Solana, you can have up to six NFTs in a single transaction. So that way it doesn't have a chance of partially filling and failing or anything along those lines. So it's been quite utilized, I'll say like consistently, since we've created it, but it certainly has ramped up, I'll say over the past few months.Brian (14:29):Yeah. That's a ton of volume just for OTC. That's really cool.DraxxTS (14:32):A ton of volume. Yeah. It's a ton of volume and it's interesting too. Because a lot of communities... I mean, we don't just onboard like every single project that wants to be on there. So we do get buy-in from communities as well to be on there. And there's certain communities such as Okay Bears that have their own…

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    Rooter - Solend Founder, Ep. 7 Aug 11, 2022
    Show notes

    Brian Friel sits down with Solend founder Rooter to hear how he built the largest lending protocol on Solana.Show Notes00:41 - Origin of PFP 01:27 - Origin Story 03:26 - When did they settle on Solana? 04:36 - The Journey of Solend 08:19 - Dealing with the Whale and Governance Proposals14:23 - Time Frame from whale discovery to governance proposal16:06 - What were the proposals? 19:06 - The third proposal 21:31 - Thoughts on governance and decentralization23:46 - What would he do anything differently?25:36 - Advice to other founders on governance26:49 - Isolated pools 31:24 - Onboarding onto DeFi 32:57 - Permissionless pools 35:39 - What's next for Solend 36:33 - A builder he admires Full TranscriptBrian (00:06):Hey everyone and welcome to the Zeitgeist, the show where we highlight the founders, developers, and designers who are pushing the web three space forward. I'm Brian Friel, Developer Relations at Phantom. I'm super excited to introduce my guest, Rooter. Rooter is the founder of Solend, the largest decentralized lending protocol on Solana. Rooter, welcome to the show.Rooter (00:26):Hey, thank you, and thanks for having me.Brian (00:27):I think everyone on crypto Twitter will recognize you by your iconic profile picture. It looks to me like a aardvark that's shedding a single tear. Can you give a little background on what is that animal in your profile pic and how you came to rock that as your PFP?Rooter (00:41):So it's actually Pequenino, which is a fictional species from a book called Speaker for the Dead, which is part of Ender's Game series.Brian (00:52):Oh, I love it.Rooter (00:52):Basically, I was looking for a profile picture and this is one of my favorite sci-fi books. I found a frame in a comic and thought it was unique to have the character crying. Took that frame and ended up getting a custom artist piece made.Brian (01:08):That's an awesome backstory. I even seen some derivative pieces of that made now that you're a judge on the latest Solana Hackathon that's become a very iconic image in Solana lore.Rooter (01:18):Yes, it's funny.Brian (01:20):For folks who maybe aren't on crypto Twitter, would you mind giving us a little background on who you are and how you became to be founding Solend?Rooter (01:28):Sure. My background is in software engineering. Basically, I've been working as a software engineer for multiple years. Been doing smart contract development for a few years as well. Started off in the Ethereum space, did a startup in the past, which ended up getting acquired. And basically last year, I was looking at what to do next in crypto. And it was very clear that building something on a scalable version of Ethereum was the way to go because it would cost hundreds of dollars to do certain operations which would add up to thousands very quickly. Basically, at the time, Solana was one of the only alternative blockchains that provided good scalability and was actually live, since a lot of what was out there was just not live yet.Brian (02:13):And how did you settle on a decentralized lending protocol, in particular?Rooter (02:17):I was always quite fascinated by lending protocols. I read the Compound white paper when it first came out and was super excited about it when it first launched, I was a user. I always felt like there was something missing in the lending space, namely that not enough assets were supported. During DeFi Summer, there were all these different old coins launching like YAM, and PASTA coin, and whatnot. One thing I really wish I could do was short a lot of them or at least farm and hedge the risk, but there were no lending markets that wanted to list these coins because they're too risky and it imposes risk on the rest of the protocol. So I really felt isolated lending protocol was needed, which eventually came in the form. It was Arari launched Fuse. It was always like really want to see this in the market. The opportunity that Solana presented was perfect since basically, Solana was a fast-growing blockchain, and the ecosystem was rapidly coming together, and there was not yet any leader in lending. It just made sense that someone would need to lead that space, and why not be us?Brian (03:27):When did you guys settle on Solana as the chain that you were going to build onRooter (03:31):At the very start, I just want to learn about different technologies so I was looking at Optimism, which hadn't launched yet. Polygon was live, aka MATIC, and I had dabbled around with that a bit. Basically, I want to mess around with Solana a little bit, see what the developer experience was like, and it turned out to be pretty good, which I guess some people might be surprised to hear. It wasn't terrible, terrible. We built the first version of Solend prototype during the Solana Season Hackathon, and we saw from that experience how powerful it could be and that there was a lot of potential. After that learning experience, we decided to double DAOn on it.Brian (04:13):That's great. And so you guys essentially went from a Hackathon project to today, one of the largest DeFi protocols on Solana, the largest lending protocol. You guys are facilitating hundreds of millions of dollars in loans every day. Walk us through that journey. What do you attribute that success to? And how big is the Solend team? You guys started, I assume, mostly just you in a Hackathon project. What's that journey like?Rooter (04:37):So in the start for the Hackathon, it was about four of us I think, and then we became five for launching the Mainnet, stayed around that size for a couple months. More recently we started growing so we're up to nine people now, mainly engineers still. And as for what I would attribute the success to? I would say, a lot of our success was on this pivotal moment which was when we launched our liquidity mining program and our token, that's when we saw a really huge spike in deposits. Basically, I think it was timed well.Rooter (05:12):Liquidity mining is just a really great way to bootstrap liquidity, which in lending you need that liquidity for it to be useful because if there's only a couple hundred thousand dollars of liquidity in assets, a lot of users just ... It's not useful to use it. If you're doing any size, you would be moving the rates too much. If you borrowed the rates would spike due to the algorithmic nature of it. I'd say that was definitely a pivotal moment since ... When we launched it I think we had $200 million in deposits, and basically, in one or two days we jumped up to $2 billion so that was quite a wild day for us.Rooter (05:48):Before that, there was a lot of anticipation to our token launch and our liquidity mining because I think we just did a good job with our branding and our UI. To this day, I think we have the simplest UI for a lending protocol that's the most easy to use and just straightforward. And, of course, coming from myself, take it with a grain of salt but I actually really do believe that. And we spent a lot of time going back and forth with a designer who is really, really talented, and coming up with this design that we felt was improving upon existing models. We tried to design it from the ground up, especially having used these products a lot. What are the pain points and what do we want to improve on?Brian (06:28):It sounds like you guys took a lot of your learnings too from DeFi Summer, as you mentioned that being a inspiration for you guys and how Compound's COMP token really kicked off that whole scene. I definitely agree that a well-timed liquidity mining event can really spur some pretty crazy liquidity in a bull market here.Rooter (06:45):And actually, I would add another thing, which is that we've built up this reputation of doing what's right by our users. Multiple times there have been issues, whether it's Oracle issues, where wrong prices are printed, and then there are some wrongful liquidations that happened. Or, at some other occasion, the Solana network went DAOn for quite a long time, which meant that some people couldn't pay back their loans when they wanted to, and as a result, they got liquidated so we've refunded people for all of these issues. And also, there was a vulnerability disclosure from Neodyme at one point, and we worked with them to get them a million-dollar bug bounty payout. No users have ever lost money due to anything that's out of their control really on Solend, and I think that goes a long way as well.Brian (07:39):I think that's a great segue. I think a lot of folks who maybe aren't users of Solend might have heard Solend for the first time back in June, this was around when much of the crypto market was experiencing cascading liquidations. Solend was trading around 25, $26 today, at the time of this recording in July, just a month later it's back up to $40. Around this time, there was a pretty big whale on Solend who was at risk of liquidation, and Solend initiated its first three governance proposals all in rapid succession. Could you walk us through what events were going on at that time in your own words? How the situation was affecting Solend?Rooter (08:20):I'll rewind a little bit. So basically, we first noticed this whales activity back in February when they deposited around $200 million worth of Solana at a time when we had around $2 billion. Or, maybe it was closer to one billion actually. Basically, they were a very large position but it wasn't anything super crazy, and also, they weren't borrowing anything at the start. And basically, what happened is, over time they started borrowing USD against their SOL position until it got to a point where they were borrowing $100 million.Rooter (08:52):At the time, it was almost 90% of the USDC borrowers in the main pool, and their so deposits were 95% of the deposits in the main pool. Over time, they gradually became an extremely large user on our platform. When we saw this, we tried to contact them so we did a couple of things. First, we went through our own private networks. Asked investors, "Hey, is this you or do you know who this is?" Didn't get any success there. The next thing we tried was sending an on-chain message and posting on Twitter a public announcement like "Hey, is this anyone out there, please reduce your position." IBrian (09:33):I remember seeing some of your tweets saying, "We're trying to reach you about your car's extended warranty jokes."Rooter (09:39):Definitely tried to use some humor to make it go more viral so that we could have a better chance of getting in contact with them. And the issue is that they're borrowing so much that their liquidation price was $22.30 cents, and SOL was trading at $26 and had just come DAOn from $100 just a month ago or something. If it continued to go DAOn, as was a trend, what we were worried about is that they would get liquidated which would cause such a massive amount of SOL to come onto the market in a sudden way that we were really concerned about the side effects of that. Specifically, on Solend, generally, the way that liquidations work is, there are bots that will liquidate someone and sell the assets on chain in one transaction. Basically, if that transaction is not profitable they're just not going to do it. If it is, then they will.Rooter (10:37):And typically this is fine because Solend has partial liquidations of 20% so only up to 20% of your position can get liquidated. And usually, positions are relatively small so it gets handled with ease. But this would be an unprecedented size of liquidation where basically, around $120 million would become liquidable in around $21 million chunks, which if you try to market sell $20 million, especially on DEXs on Solana, you're just going to crush the market.Brian (11:09):There's no liquidity to support that.Rooter (11:11):Exactly. If you try to sell one to $2 million, there would be 5% slippage. At 20 there's just no liquidity or tank it by maybe 50%, and doing this over and over again would cause a lot of issues. A couple of things there. One, it's a super lucrative liquidation transaction that Boss will be incentivized to spam so much to try to win, right. And two, it would create a very large arbitrage opportunity on the DEXs for people to ARVE between other venues. Both these combined would cause such incentive for a lot of bot activity that we were worried that it would potentially overload the Solana network. At the time, Solana was experiencing a lot of network issues, transactions would fail.Brian (12:00):This is the pre-1.10 release.Rooter (12:04):It's gotten so much better since then, thankfully.Brian (12:06):Was there any risk at this time to say just your average depositor in Solend, "I have a couple hundred USDC, I just want to deposit in Solend for a yield? Was I at risk here based on this mega whale's actions or failure to respond?"Rooter (12:22):So usually other users are not at risk, but given the size of this user and the fact that they could move the market with their liquidation, then other users were at risk because what could potentially happen is the Solana network could go DAOn, and in the worst case it would go DAOn for a couple hours. And in the worst case, the price of SOL would also continue to drop, and so liquidations would not be able to occur, or even if they did they potentially wouldn't be able to happen fast enough which would leave bad bet on the platform. Basically, when the collateral is not worth enough to cover the loan then there's a mismatch in liabilities and that would mean basically that some users who withdraw last would not be able to withdraw. Solend has an insurance fund to repay these bad debts, but there's a chance that our insurance fund of $20 million would get depleted, and on top of that users would lose a bunch of money.Rooter (13:20):Basically, what we were looking at is, do something about it and avoid gambling for the outcome where users would lose maybe $100 million dollars and Solend’s treasury gets depleted and basically spells the end for the land potentially, or do nothing and hope for the best. We're being proactive, and we looked at this situation and felt that it would make sense to do something about it. The solution that we came to was basically a very large market sale is extremely hard to do on chain but it's a lot more routine to do so OTC. So we made a governance proposal of this so then one, and basically the proposal was to liquidate these assets OTC, over the counter, to minimize flippage, get better execution, et cetera. Minimize impact to the market rather than doing so on chain. There was a lot of controversy around that.Brian (14:20):And I just want to set the stage here a little bit because I think this is a really fascinating case study for everyone who's interested in decentralized governance. I've been in the space for a couple of years now. Maybe thinking back to March 2020, but even then having governance issues that were so important. Solend being the lifeblood of the lending ecosystem on Solana, this being like you said, a potential existential question, but then also the fact that it's time sensitive. Can you just recap real quick how long you guys had from essentially finding out that this was an issue to turning out your first governance proposal?Rooter (14:56):So I think we first noticed this on June 15th, and a couple tweets trying to get in contact the 16th and around that. And then it was a couple days later that this proposal happened. And basically, we were looking at the sold charts and it's a very volatile asset, right. It actually dipped to $25, and I think in the high 25s for some time, which meant that only…

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    TJ Littlejohn - mtnPay Founder, Ep. 6 Jul 28, 2022
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    TJ Littlejohn (mtnPay CEO) joins The Zeitgeist to discuss how mtnPay is enabling real-world crypto adoption by innovating on the payment user experience.Show Notes00:42 - Background 01:53 - Story behind MtnPay 03:42 - Other participants at MtnDAO 05:53 - From white paper to actually building08:56 - Congressman interaction 10:22 - What is MtnPay? 12:22 - Future Features for MtnPay14:40 - Winning Riptide’s payments track 15:33 - Developer resources 16:40 - The Photobooth 20:34 - Solana's architecture 22:10 - The Future of Payments on Solana 24:33 - The future of MtnPay 25:40 - Builders TJ admires 27:18 - Where to learn more about MtnPay Full TranscriptBrian (00:06):Hey, everyone and welcome to the Zeitgeist, the show where we highlight the founders, developers, and designers who are pushing the Web3 space forward. I'm Brian Friel, developer of relations at Phantom and joining me today is TJ Littlejohn. TJ is the founder and CEO of mtnPay. A Solana API for payments. TJ, how's it going today?TJ (00:24):What's up, dude. Thanks for having me on.Brian (00:27):Thanks for coming on. We're real excited to give you guys a little bit of spotlight here. You guys have built some great products that have integrated with Phantom and some really cool ways. Before we dive into all that, do you mind giving us a little background on who you are and how you became to be building on Solana?TJ (00:42):Yeah. So like you said, my name's TJ. Background's just as a developer historically, I'm an iOS developer. I did that in college, was really into hackathons, after school went out to SF and worked at Apple doing iOS development there. Kind of wanted to do something a little more impactful, joined some startups, found Solana maybe at the end of last year, I noticed there was an opportunity to build and I couldn't ignore it. There was a lot of foundational things popping up. I think Phantom had just got going within the last couple months. And NFTs were usable, but there was still a massive vacuum for other things and so it kind of jumped in and exploring what to build really.Brian (01:23):That's awesome. And so a lot of people when they hear the name mtnPay, the first thing that comes to their mind is mtnDAO. And for those that don't know, mtnDAO started originally as this small little co-working space in Salt Lake City for some Solana builders to come together. Now it's evolved, let's say it's basically a movement. It's kind of the epitome of Solana developer culture in a lot of respects. What is the kind of founding story there? How did you get involved in mtnDAO? And what was the original idea for what is now mtnPay?TJ (01:54):Yeah, mtnDAO like you said, it's a co-working space. Month long co-working space in Salt Lake City. I got involved to go there because of my friends that brought me into Solana. I had a couple good friends, Edgar and Barrett who were into this space a lot earlier than most people were. And they were just some really cool builders and had a lot of great friends that were developers and entrepreneurs. And so I think they had done this the year prior where it was called the mountain compound. And they just had a bunch of people come out, they rented a ski house and just kind of built for a week or so. And then naturally it was like, cool, they were going to do it the next year, and so that was what became mtnDAO.TJ (02:32):And everyone was invited, I was friends with them, I was definitely going to go. Kind of popped off and a lot of people showing up. And so we were there in this co-working space and there was just ... I was looking for stuff to do. And it was a random, fun idea to build a point of sale. Solana Pay had just came out, the spec and with being bored I was reading it. And it was a night before a party and I was grabbing a Red Bull because I was really tired and there was a point of sale there that was a self-service checkout thing. We were like, what if we just rebuilt this and added Solana Pay? And that was it. There wasn't much more past that, and it was oh, we can make this for our friends for the full month. And we jumped all over that.Brian (03:13):That's awesome. Starting small, now it's basically this whole movement. You guys have a couple really great integrations, but with the NFTs I saw, being able to just push transactions on the end users and Phantom. I guess before we dive into all that a little more, just to talk a little bit more about mtnDAO, you mentioned Edgar and Barrett. I believe that's Edgar and Barrett from Cipher Protocol and Margin Five. Is that right?TJ (03:33):Correct.Brian (03:34):What were some of the other builders there? Do you still keep in touch with folks who were in that early house and how has that kind of scene evolved on Solana?TJ (03:42):It's crazy. There's been so many wins that came out of that month. Nick from Cronos was there. They're an incredible project and he ended up winning the Riptide Hackathon. My friend Jeff spent the month there and he's been experimenting with a bunch of different Defi opportunities since. Cavy, now works at Genesis Go. I know that John now is at Coral. I don't know if there was any correlation of him up there, but just shows how sick we build, he was just hanging out there all month. All the people from Cashmere was there. They were awesome to have around. Jeremy Cardinal, literally everyone. I know [inaudible 00:04:29] came through the whole time, VCs like Alex from Delfi or Cal Samani was there. Just the raw crew, you know?TJ (04:36):So that was I think really cool and inspirational and you're around those people and it just makes you want to be better and elevate yourself and be around some sick builders. Mika, I think a lot of the Phantom people came in through too. I think that was the first time I met CK. And I think honest, meeting CK there enabled a lot of the mtnPay stuff because I had this open line of coms just to pester him when Solana Pay was coming out. The new versions of Solana Pay were coming out like dude, I need this. When's it coming? When's it coming was able to work in parallel. Ended up if I think getting connected to you through that probably, was pestering you a bunch. A lot of crazy opportunities came through man mtnDAO.Brian (05:16):Yeah. I wouldn't call it pestering, but no, it's a super organic developer movement here. It's something that definitely originally drew me to Solana in the first place. Just the positivity and the sheer number of people just show up to a house in Utah and start hacking on things. So you mentioned the founding stories. You're sitting in this house in Utah, there's this square terminal where you could check out maybe buy some snacks, buy some Red Bulls late at night. Was it just you who was working on this idea? How did this come together? You mentioned that the Solana Pay spec was released that day. How did you go from, Hey, I see this essentially a white paper, maybe a GitHub to actually deciding this was something you're going to actually spend some time on?TJ (05:53):Yeah, totally. So had the idea randomly. I was reading the spec early in the week, knew about it. Literally what you said was at the point of sale, like had the idea like, oh, it'd be sick to rebuild this, but add Solana Pay. But obviously there's more that kind of follows up there. That was on Friday night. And so my boy Scott was in town. We kind of knew we wanted to go out Friday, go skiing Saturday and then started hacking on some stuff because he was there through I think Wednesday maybe? And so we had floated a couple of ideas around on what we could possibly be working on. And that was just one of them. And then we ended up on Sunday, at the shop, which is the co-working space that mtnDAO was at.TJ (06:30):We probably were whiteboarding five to six ideas dealing with stuff with Game-Fi or tokens for Twitch creators or ... It's funny, like one of the early ideas was like tokens for merchants. And then another one was just this one of doing the point of sale for this. And we're like I feel this is the most digestible and that we could hack together and it fit our skill sets. I'm an iOS developer. Scott's done some stuff on the back end before. And so he could handle a lot of the integration, the square stuff and I can do the Solana front end stuff and it just made sense. And so we grinded it, we stayed up super, super late, most nights, but it was a 48 hour turnaround because we also didn't even start it on Sunday, like that actual idea until five, six o'clock. I actually looked the other day because I was going back to some of the mtnDAO tweets. We did it on February 8th. Which was sick. So a lot of it came out on the first. So it was really fast.Brian (07:27):And no inside knowledge to the time right? You basically found out the same time everyone else did.TJ (07:32):Yeah. No inside knowledge, but I think Jordan from Solana Pay will boast that there was no insider knowledge. The repo was public since November. So anyone could have known.Brian (07:43):Alpha hiding in plain sight there.TJ (07:45):Exactly. Obscurity by just putting it on GitHub. I did feel I had insider knowledge afterwards though. I remember Nick from Cronos, it was super on payments now, was super on my radar, we had that video go kind of viral. Then Nick from Cronos came back from the Seattle Hacker House and I think he met someone there and learned about the transaction request back. And I remember in between that is when I met CK and I was like, dude, if we can figure out how to make this work for any transaction on Solana, it's over. This changes everything. And I was so sure of that, but I had no idea how you could do that. And then I remember Nick coming back and showing me the spec and I never felt like I had such insider info in my life. But again, it was just probably on the GitHub. But man, I remember reading it and just being like, this is different. This changes things.Brian (08:41):Yeah. No that's super cool. I remember that video you mentioned, I think it was at three in the morning, you guys filmed it with Scott and he's there checking out his Red Bull on mtnPay. I think you guys even had somebody who was a governor or a Senator that came by and checked out with it. Who was that?TJ (08:56):John Curtis. I believe Congressman John Curtis. That was fun too. He came another time. We had a couple of minutes in between when he was meeting with people privately or something or had a small round table with some folks. And when he was going to do a larger chat and so just got to get down with the stuff to him, which was really cool because that's a lot of what mtnPay going to do in the near term is just demo what's possible. It's kind of like a chicken and the egg thing. And so I don't think there's a massive surplus of people waiting ready to pay, but I think we have an opportunity to demo and move conversations along. And so that was just a really good example of that is how we can show the decision makers, what is actually doable and what things look like and feel like.Brian (09:42):Yeah, it's kind of like you said, the whole protocol could be sitting there on GitHub for anyone to go see, but there's very few people in the world who are going to dig into that and actually build something. And you guys are actually building products that makes this tangible, make this real, you get someone like a Congressman to come in and actually use it and buy something for real and have it show up in Square. And as a line item ran right alongside using a credit card or something like that. You hit on a couple things earlier. You mentioned that originally at this point of sale integration, but then the second evolution of this spec came along that enabled transaction requests. And so you guys have built some really great products around that, how would you describe what mtnPay is today holistically?TJ (10:23):At our interface layer, we're an API, right? So we want to be able to be pinged by anyone that has an internet connection and can make rest API calls. On the back end what we're doing is we are doing the grunt work of integrating with a bunch of different protocols and tying their functionality together for use cases that make sense to consumers. I want to pay for this, please build the transaction that does that. Or I would like to use a coupon that I have in my account and get a discount on this item I am purchasing or it doesn't necessarily have to be payment stuff. Like you said, we have some cool stuff we do with NFTs. For another example, we integrate with Magic Eden this week and have a feature where you can have a QR code that sweeps the floor of a given NFT collection. And that was done by using like of their APIs that maybe weren't intended to be used exactly together. But then we did that and then we can open that up for other people to use in whatever way they want to compose with this product.Brian (11:31):Yeah. And so this is all leveraging at the end of the day that Solana Pay spec and that transaction requests are part of that. I feel like the Solana Pay is a bit of a misnomer at this point because, originally, it's a similar evolution you guys have took, starting out payments point of sale. Now you're able to scan a QR code, sweep the floor. I even saw that Greg, one of the mtnPay team members, actually printed this QR code and put it on a shirt and has been walking around. So you can scan a shirt live in person and sweep the floor. It's pretty cool. What are some of the things that you think people aren't maybe thinking about when it comes to transaction requests? Most people know transaction requests from either just a tutorial or sending someone an invoice or something that they can pay. You guys I think are pushing the envelope a little bit here. What are some of the things that you mentioned that the sweeping the floor, what are some others that you have in mind here?TJ (12:22):I think the mental model shift that you need to hit is that a transactional request can literally just do anything you can do on Solana. So anything dApps are doing today where they're building transactions, you can do that with transaction requests. But the cool thing is you can do that on a servered environment. And so you start to separate the entities that are involved, the group that's building the transaction doesn't have to be the group that's generating the QR code, which doesn't have to be on the same device that the user is trying to grab the transaction and sign it. When you start to break up this stuff, really cool interactions can happen. And so when I had that unlocked from seeing the spec, my mind was just running and I was like, what cool things can we do with this?TJ (13:10):One of the really early ideas that we had, and a lot of it centered around what can we do that's like fun here? What do we think is unique and whatever, and so one of the really early ideas we had was Degen coin flip. Could we wrap up Degen coin flip and put it on a projector at a party and just have people doing Degen coin flip and do a cool UI. And everyone can just like get hyped when someone wins a bunch of money, that's fun. Or the next idea there was the photo booth we built. Those ideas both came from the Austin community hacker house that happened in March. I wanted to build those out for that hacker house.TJ (13:50):But the timing didn't line up with when transaction requests was going to be live in the app store. And so we had to wait on that, but that was really fun. We did the Magic Eden sweeping thing. We've done candy machine minting, just wrapping up protocols. Notice how in here we…

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    Steven Laver - Solana Mobile Engineering Lead, Ep. 5 Jul 12, 2022
    Show notes

    Steven Laver (Solana Mobile Engineering Lead) joins The Zeitgeist to discuss how Solana Mobile Stack and the Saga phone will enable the user experiences and rich ecosystem that we need for the future of Web3.Show Notes00:05 - Intro00:45 - Background01:27 - Before Solana02:24 - Why mobile and SMS?04:12 - What is SMS ?06:15 - Seed Vault08:39 - ARM TrustZone10:06 - Security with Seed Vault11:44 - Restrictions with Seed Vault12:46 - Importing and exporting keys15:02 - Mobile wallet adapter21:39 - Plans for deep linking23:27 - The dApp store27:31 - Plans for Solana pay31:18 - Saga33:16 - Expanding SMS to other devices and blockchains38:54 - Working with TJ from Mountain Pay40:18 - Where to connect with Steven and SMS41:14 - OutroTranscriptBrian (00:06):Hey, everyone. And welcome to the Zeitgeist, the show where we highlight the founders, developers, and designers who are pushing the Web 3.0 space forward. I'm Brian Friel, developer relations at Phantom, and I'm super excited to introduce my guest Steven Labor. Stephen is the lead software engineer for a suite of new Solana developer tools known as SMS. The Solana mobile stack. SMS was unveiled recently at NFT NYC alongside a flagship smartphone that will be powered by this new suite of technologies. Stephen, welcome to the show.Steven (00:37):Thanks Brian. Excited to be here.Brian (00:39):Thanks for coming on. We have a lot of ground to cover today. Couple really great announcements that you guys just released, but before we dive into all that, could you give us a brief background of who you are and how you became involved with building mobile software for so Solana?Steven (00:52):Sure. So I have been doing professional engineering now for round about 20 years, but about 15 of those have been spent working on phones in one fashion or another. Right after college, I kind of fell backwards into a job. I just crossed the road rom my university and started working for research in motion and back then worked on Blackberries back when they were cool. And since then I've had a long career building, all kinds of phones and software for phones. Few forays out into some other areas of consumer electronics, but I keep seeming to be dragged back into phones. So I must love it.Brian (01:28):Right before Solana. What were some of the companies you were just working at?Steven (01:31):When, when I took the call from Anatoly for this cool new, exciting opportunity for Solana mobile, I was sitting in a beige conference room at a very large company that likes to make very monochromatic products. And when he started selling me on what Solana labs was building here and the what the vision for the SAGA device was at the time under a very cool code name, but I was pretty quickly sold on that. And previous to that, I spent a few years working at Google, working on the Android products there. So like I said, long background, lots of different smartphones and phone software in there, but this is the most excited I've been about a phone project in a long, long time.Brian (02:09):Oh, that's awesome to hear. Most people who interact with crypto today do so on a desktop from a browser extension. Maybe they're signing with a ledger, maybe they're signing with a web wallet like Phantom. And on Solana specifically, mobile wallets only launched a little over six months ago. Why is the time right now for push into mobile and why SMS specifically?Steven (02:29):So this is actually exactly what the problem statement that convinced me that I should join Solana labs and help build this awesome product. Our phones are everything to us. They're our web browsers. They are cameras. We watch TV on them. We play games on them. They're the first place we go to for everything, they're even our alarm clocks now. And the fact that the Web 3.0 ecosystem just isn't present on our phones the same way it is on our desktops. That to me, is what really gets me excited and got me interested in building this. We're really at the square one here, as far as building for a rich ecosystem for Web 3.0 and for Solana on mobile devices. And we get to use this at use SAGA and use SMS. This is our stake in the ground.Steven (03:13):This is us saying, this is how we should be building for mobile devices. These are the user experiences we need to offer. These are the technologies we need to offer. And being on the ground floor of that, getting to build these fundamental building blocks and then giving them to the community. So the community can then go build all the great, amazing ideas that are honestly, things I would never have thought of. But when I look back at them, I'm like, wow. We have such a rich and exciting community of builders for Solana. That's what I'm most excited about for building SAGA and building the Solana mobile stack.Brian (03:45):That's awesome. Yeah. From Phantoms side, we've seen just in the last six months that even though that foundation for building mobile apps, isn't really there today, SMS hopefully will be able to lay this great foundation. Like you said, we've seen that mobile has been our fastest growing segment by far. So we're super excited for this as well. SMS covers a lot of new developer features here. It's kind of this umbrella term for this whole suite of products that you guys are building in your own words, what is SMS and how should developers be thinking about this new suite of tools?Steven (04:17):I think of it from two angles. So first of all, let me talk about it just briefly from a consumer angle. Or Web 3.0 ecosystem for consumers. Many of us are very in the know about what that means, but for some others, they may be a little less so. They're new to the space, they're still learning it. There's a lot of words and phrases and sayings and memes that are very unique to this ecosystem that people take a little while to get onboarded with. From a consumer perspective, SMS really allows them to understand what a phone offers in terms of its capabilities with Solana. And so it's really by participating in an ecosystem or on a device that has the SMS technologies on it, to a certain extent, they know what they're going to get there. They know they're going to get a device that is going to work well and is they're going to be able to fully participate in the Solana ecosystem.Steven (05:06):For developers, SMS is a collection of technologies, the big ones being, we have Seed Vault for secure key custody. We have mobile wallet adapter for connecting adapts to wallets. We have deeper richer integrations with the OS for Solana Pay, and then the Solana DAP store, which people are really, really excited about.Steven (05:25):And so from the developer perspective, we have this collection of tools which will continue to grow over time. We're going to put more libraries in there. We're going to have more samples for developers, and we're going to keep expanding on this initial set of technologies. And I'm happy to talk about each of those in detail, but as far as SMS for developers, we've got an SDK out now and we're going to be continuing to enhance that. And each of those technology offerings within SMS has value to offer to a different slice or a different segment of our developer ecosystem.Brian (05:55):That's awesome. They're very complimentary as well. Let's dive into each of them. So you mentioned four of those there. We have the Seed Vault. We have the mobile wallet adapter, the DAP store that you guys are launching and then better integrations around Solana Pay, which you guys recently unveiled earlier this year. Let's start with the Seed Vault. I feel like this is the foundation upon which everything else is built. Can you describe a little bit of more, like, what is the Seed Vault? Is it related to what a secure enclave is on iOS or a key store? How should people be thinking about this new term?Steven (06:25):So there's a pretty big gap between the level of security that a hardware wallet offers. Something like a device like a ledger or a treasure. Those are great devices, they're purpose built hardware, and they offer the maximum level of security for users. I think they do a fantastic job with that, but ultimately they are a little bit limited by the fact that they're a separate device. It needs to be connected to your wallet. It's got a very limited user interface in terms of LCD displays or buttons, et cetera. Whereas on the other end of the spectrum, we have the software wallets running on Android or iOS devices, like Phantom for example. User experience is top notch, but the environment that they're running in the Android or iOS high level operating systems, they are general purpose operating systems. They're connected to the network. They run other user code on them.Steven (07:15):And so while they can offer that great user experience because of the environment they operate in, they don't have that quite that same level of security as a hardware wallet would. Seed Vault allows us to bring a lot of those benefits that a hardware wallet is able to, in terms of custody of keys, in terms of taking advantage of extremely secure hardware on mobile phones. And bring those to the software wallets. And so I think that's actually an important point for Seed Vault. We aren't actually building any new or novel hardware into phones to bring this technology up to wallets. Instead, we're taking advantage of the very high secure elements that already exist on phones. And we're integrating those into the system layer and we're integrating Solana blockchain operations into the system to support these functionalities. So as a concrete example, when your seeds are sort of the root of all your secrets on the Solana blockchain, all your wallet accounts, all your private keys, everything is derived from those seeds.Steven (08:13):We use a secure element on SAGA to secure your seeds in a way that's very protected, even down to the level of forensic attacks. Those are the kind of attacks that would go on in like a lab. And they take your device apart and use all kinds of equipment to try to extract your secrets from that device. So we use the secure element, specialized hardware, very similar to the secure enclave that you would hear about on an iOS device, for example. And then we combine that with a very secure operating environment that is available on most Android devices. So it's called Arm Trust Zone, and it's an environment that is running below the level of Android. So everything the user sees and is used to seeing in terms of the Android operating system, there's actually another operating system running below that on the device, it's a very specialized environment.Steven (09:02):It's very secure and it's called Arm trust zone. We run a trusted application within that environment that cooperates with the secure element to do all of your signing operations. So all of your key derivations from that initial seed and all of the secure signing operations, based on that. Design transactions on behalf of the wallets that are running in the Android OS. We make use of a bunch of specialized secure technologies, such as secure input and secure display. So if you have a password associated with your seed, when you type in that password, you're actually not even typing that into Android. You're typing that into a specialized OS, highly secure. It actually takes over the display temporarily. And so that when you enter your password, it's only going into environment that is secure and ready to accept it. And then once we sign a transaction on behalf of the user, we hand that back to the wallet, for example, Phantom running in the Android operating system, and then Phantom takes that and is able to submit it to the Solana blockchain for processing.Brian (10:04):That's a great overview. Thanks for that. So is it safe to say from like an end user's perspective, is this a Seed Vault, essentially bringing the same security guarantees or even more than a traditional hardware wallet would, but with kind of an added ease of use component being that it's directly embedded into your phone.Steven (10:21):So the hardware wallets are designed from the ground up to be the most secure wallets possible. And so certain design choices that they've made such as not having network connectivity on them, their air gap devices and being designed with very, very optimized hardware specifically for security means that those are pretty much the perfect devices for the security of seed storage. But as we all know, the trade off comes in terms of the user experience.Steven (10:48):Seed Vault gets us most of the way there. We get to take advantage of secure elements for seed encryption and specialized processing environments. It's still running inside a general purpose device, which does have network connectivity, although the secure environments themselves on the device, don't. So cold storage wallets are definitely going to still have a place in the ecosystem for very, very secure storage of high value assets, high value wallets, for example, but Seed Vault gets us a substantial distance closer to that on phones. And it also does it in a way that remains readily available and easy for users to use. So this is Seed Vault is very much a day to day technology that will allow the users to bring a huge amount of security to their seeds and their keys while still maintaining all the usability of an Android device.Brian (11:37):That's fantastic. I think anyone who's been around in crypto long enough deeply understands that problem between security and ease of use trade off. Can this Seed Vault handle all types of signing or is it restricted in any way as to what types of transactions or messages this can sign?Steven (11:53):For the initial launch we're focused on the Solana chain. All the operations that are built into Seed Vault are all designed, are all the cryptographic operations that are necessary for key generation, key storage, and transaction signing on. That said, like I said before, we're not building any new hardware into phones to support this. We're making use of hardware, very, very secure hardware that was already present. This is a systems integration problem. And so we're building this really, really secure and specialized system deep into the OS below the level of Android so that users can have a secure Solana experience. But there's nothing that would stop us in the future from expanding this as well. So what I would say to users is, go to Solanamobile.com. We have a wait list there, but you can also leave comments as well. So please, if other chains are an area you have an interest in, that would be a great place to let us know about it.Brian (12:45):That's fantastic. And one final point on the Seed Vault, is it possible to import or export your keys to another phone or is this sea fault tied to essentially one device?Steven (12:56):So the Seed Vault will support the standard BIT 39 seed phrases. So those 12 or 24 word seed phrases that we're all intimately familiar with. A big part of key custody is understanding the importance of protecting your own keys. And so for users who... We strongly believe in self custody of keys and secrets with the SAGA device. And so when you first set up the device, the user will be guided through a process to either create a new seed or to import an existing seed. As part of that process, we'll be guiding the user to back up, write down in some, for example, a reference card, all of the words in their seed phrase. And store that somewhere safe and secure. That seed phrase can be used to recover your…

    Full show notes at the publisher

    Grace 'Ori' Kwan - Orca Co-founder, Ep. 4' Jun 29, 2022
    Show notes

    Grace 'Ori' Kwan (Orca Co-Founder) joins The Zeitgeist to discuss design at Orca and how she approaches building for the Web3 ecosystem. Show Notes00:05 - Intro00:39 - Ori’s background / working at IDEO04:20 - Human centered design in Crypto06:03 - The design process at Orca07:37 - Sourcing for UX research09:11 - The culture at Orca10:28 - Qualitative vs quantitative feedback11:55 - Orca’s success12:55 - The magic bar14:02 - Branding14:26 - Whirlpools 17:31 - Who is the target user?19:07 - Branding in Crypto20:50 - Advice for designers looking to crack into Web 3.022:01 - Building a new product at Orca23:10 - Climate impact work at Orca24:47 - Working with co-founder, YutaroTranscriptJisi (00:06):Hi, everyone. Welcome to The Zeitgeist, the show where we highlight the founders, developers and designers who are pushing the Web 3.0 Industry forward. I'm Jisi Guo, design lead at Phantom, and I'm incredibly excited to introduce Grace Ori Kwan. Ori is the co-founder of Orca, the most user-friendly decentralized exchange on Solana. Ori, thanks so much for being with us today.Ori (00:27):Really a pleasure.Jisi (00:28):Yeah, you are actually in Japan. Am I correct?Ori (00:32):Yeah, I'm currently in Japan. I usually bounce around a lot, but lucky enough to be here for the spring.Jisi (00:37):Nice. That's amazing. Tell us a little bit about your background. How did you get exposed to crypto and Web 3.0?Ori (00:45):It's a funny story, actually. I was never really into crypto for most of my life. In fact, I was one of those people who really didn't care about money in any form besides just using it to survive. But it all really happened during COVID where actually in Tokyo I moved into a shared house, which is pretty common in Tokyo actually, where adults who are looking for a more communal living place will move into this type of shared apartment situation. Right across the hall from me was my co-founder, Yutaro. One thing led to another with COVID and the lockdown. We were all bored, and we were like, "Should we try building something together?" Yutaro was like, "Well, if we're going to build something, I'm only interested if it's crypto," and so it went from there.Jisi (01:33):Wow. That's insane. That's awesome. How did you start, were there different side projects that you started with, or was Orca the first project that you thought of?Ori (01:45):It definitely was not. We went in with zero intention of ever starting a company. I think because my background's from Stanford, everyone's like, "Oh, you probably wanted to be an entrepreneur your whole life," but that's totally not the case. I didn't really have that plan. I'd always seen an entrepreneurial lifestyle as very tiring and probably something that I wouldn't be suited for. So it really was just like, "Hey, let's start hacking on some projects on the side." Our first project, which we sometimes joke about was really just a little weekend thing. We made it like a little quiz that told you which crypto you were. It was supposed to be one of those Facebook shareable ones.Ori (02:20):Then it led to hacking on apps and Ethereum. Then, when defi summer came and the gas fees became really insane on Ethereum, that's when we started really taking notice of the other options available and landed on Solana.Jisi (02:34):Nice. That's amazing. What crypto were you on that quiz? I'm just curious.Ori (02:41):I think I was Bitcoin. Yeah. Maybe I was more traditionally minded at the time.Jisi (02:47):You were the OG. Nice.Ori (02:49):Yeah.Jisi (02:51):Yeah. Well, it's pretty nice to chat with you because a lot of people know you as a design founder within crypto, and it seems like there are very few designers within Web 3.0 and you previously even have experience working at IDEO. Could you tell me a little bit about that?Ori (03:10):For sure, yeah. IDEO was actually a culture shock for me, because I had spent my entire career before that more in engineering-driven places, and I started my career as an engineer. I studied computer science, worked at Coursera, really building fronted applications on the web. Then it was in New York that I started working across design and engineering, this feeling like I wanted to be kind of higher up in the decision-making process, higher up in ensuring that the products we were developing were really going to be useful to people. But at IDEO, it's not entirely a consulting business, but I was working on the consulting side and especially in IDEO Tokyo, that particular office, a lot of it was really about inspiring clients, which is an art in itself.Ori (03:56):I learned so much about storytelling, about working with different types of clients and people who have very different mindsets and backgrounds, but it was not as much about shipping products that are really used by people every single day. I quickly learned that my passion is creating products that real people are getting real value out of, which led me to crypto, because nobody is here in crypto just to play around or be inspired necessarily. People want results is my sense of the space.Jisi (04:30):Yeah, for sure. I recently read your op-ed in CoinDesk and it was really interesting. You were talking a lot about bringing human-centered design to crypto. Can you talk a little bit more about that?Ori (04:50):Yeah. Thank you so much for reading the op-ed. It was actually my first time writing one for this type of magazine, so it was really a fun experience, fun and stressful. But human-centered design, it's a fuzzy thing, but really what I think of it as is focusing on building products that solve needs for people, which sounds so obvious. But when you look at many technology products, especially crypto products, you can really see how the design is accommodating the technology.Ori (05:20):As an engineer, it's very easy for me to see how "Oh, well the data structure or the data is structured in this way and it's being returned from the API in this way, so let's just build a UI that spits that out with as little effort as possible to transform that into something that humans can actually make sense of, which results in people just thinking crypto is scary and complicated." At the end of the day, what I think human-centered design is about is keeping in touch with humans throughout the entire process, starting your design and product building journey by thinking about something humans need, continually showing your wire frames, your high-fi designs to people, getting their feedback and thinking very deeply about what the type of person you're trying to build for is.Jisi (06:04):Yeah, that's amazing. That's especially relevant because Orca as a DEX, it's a complicated subject matter, but you're known as one of the most easy-to-use DEXs on Solana and being able to really hone in on the user and make that more approachable is super relevant. Could you talk a little bit about the design process that you use at Orca and how do you get insights into what users are trying to do and to make something that they want?Ori (06:36):It all starts with interviews. That sounds very formal, but a lot of the time it's really just like my co-worker's friend who happens to really fit the profile of who we're trying to target, and sometimes I like to categorize it this way. For example, we have this friend of a friend like Humphrey, who's a little bit of a Degen, but maybe it doesn't have that many hours a day to spend. So sometimes I'd be like, "Oh, we're designing for a Humphrey right now," or, "We're designing for an Elise right now." So I'll start by like finding the type of people who we think we are trying to cater to and just having a conversation with them.Ori (07:08):I think the art of design research is something that I've been very blessed to have experience by working at small startups where designers wear every single hat. So it is about asking these open-ended questions to really just understand what really makes people tick? What they're really looking for, and you won't necessarily get that by just showing someone a design. I think starting actually without even a piece of visual to come from is usually where I begin, so it becomes very exploratory, but then it's about distilling the insights from that open-ended conversation, understanding the needs. Then I go into wire framing, talking to people again, getting feedback, and rinse and repeat all the way until we have hi-fi designs that we deem good enough; not perfect, but good enough.Jisi (07:54):Yeah. It seems like you have identified people that are your target personas and you're able to interview them and maybe even observe them and give feedback directly from them, which is amazing. It feels like it's difficult to do that kind of UX research within crypto because a lot of times users are anonymous or you're not quite sure what cohort they may be in. Are there any tips or tricks that you've had and enable to sourcing for that UX research?Ori (08:25):I don't hold our candidate sourcing to the same level of fidelity that a very large firm might, because I think it's honestly not necessary. A lot of the types of people that we're looking for are often in our circles, just because maybe I wasn't, but certainly Yutaro and a lot of our team are just in these circles of Degens who love to spend time on this stuff. I think just talking to maybe three to five people usually get a pretty good representative sample, just keeping in mind that everyone carries their own bias and not necessarily trying to identify Humphrey's particular needs and build exactly for those, but more to identify the larger patterns, and also to practice the general design research practices of encouraging the person to speak their mind, encouraging the person to say critical things. I do avoid, I guess, interviewing usually first-degree connections. Someone you're a little bit too good of friends with, I think can affect the results, but someone who is mostly a stranger, but is a friend of a friend is usually fine.Jisi (09:33):Yeah. I think that really makes sense, and especially when you're building a product that you yourself use, you can do some testing through people within the company or people that are friends of friends, and so that's pretty nice. I'm curious, how have you been able to instill this design culture within Orca as a whole?Ori (09:55):Yeah. I think that question is actually funny to me in a way, because I think everyone at Orca embraces the ethos of user friendliness and it's something that they're very passionate about, but actually nobody else does design at Orca. I'm the only person who does any of the design, and so in some ways, it's actually a design monoculture, I guess, because it's mostly me, which in some ways, is shocking to me that I could just design this thing and put it out there and people would love it, because it hasn't gone through endless rounds of design review, and there isn't a design boss telling me what I should tweak, which is actually very new to me.Ori (10:34):I guess what the culture that I've tried to instill, which I think is, you could call it a human-centered design culture as well, is just being accepting of our mistakes and this culture that everything is a trial and error, which I think I really learned actually from my engineering manager at this startup I worked at in New York called Button, where everything he'd do, he'd be like, "Okay, we're just going to try this. It's a two-way door. We'll put it out there for two weeks, and if it doesn't work out, we'll just go back the other way." I try to instill that in everything, and when I share designs with the company, I'm not like, "This is the right way," but I'm like, "This is what we're trying."Jisi (11:11):When you get that feedback, is it mostly qualitative or quantitative? How do you gauge where to go off from those initial designs?Ori (11:23):I would say it's mostly qualitative in the past. We're getting more and more quantitative in our analysis, starting to look more at things like daily active wallets, starting to look more at geographic breakdowns, et cetera. But one of the things about DeFi is that there is no KYC, so it's impossible to know in a very precise way what your users are doing. I think for a giant product like Facebook, it makes more sense to get really granular with things like AB testing. But honestly, I think what's carried Orca the farthest is leaning very heavily on intuition and that's something that I believe we'll continue to do.Jisi (12:01):Yeah. I would imagine it'd be hard to lean on data as well. There's a lot of spikes and changes in those patterns that it's hard to attribute to certain things. More recently, today is the number four exchange across all chains for total volume.Ori (12:19):It's mind blowing, right? We're-Jisi (12:21):Yeah.Ori (12:21):... what is it, 15? Not even 15 months old and kind of up there. We hit number three, I think, a day or two ago as well, and that's like flipping with Uniswap and PancakeSwap. For someone like me, I couldn't tell you what Ethereum was three years ago. It really goes to show that the space has changed, and I think it's starting to embrace a much wider audience.Jisi (12:44):It's so amazing, so definitely congratulations there. Also, just daily active users, like it's crossed 100,000 thresholds, so that's amazing as well.Ori (12:54):Thank you. Yeah. A lot of people, they're asking me, "Where is this spike coming from?" To be honest, in some ways it's like, I just tweeted about this recently, but it's UX in a different sense of developer experience, because I think we've created this SDK that developers find to be very user friendly. We've created this brand through our communications, through our community managers of having great support, and those things are also part of the user-friendly package that builds this brand that people ultimately trust and want to use, including other apps that integrate Orca under the hood.Jisi (13:29):Yeah, that's definitely true. I think developers are definitely a huge subset of your customer base and providing a good SDK is great design for them. It just adds the flywheel of more users finding Orca through DAP or more adapt or learning about Orca. You mentioned the brand, I think there's a lot of things that you've done really well like having the Magic Bar and making sure that you're showing that this is the best price, just reassuring users, so that's definitely building a lot of brand loyalty there.Ori (14:01):Thank you. Yeah. It's the most fun part of building a company for me, I think, is actually just building the product that, again, people are using every single day, regardless of whether they know that they're using it or not. Whenever I'm asked, "How did you come up with the Magic Bar? How did you come up with the Fair Price Indicator?" It really was just research either observing people using other AMMs. I remember watching people price compare when using Uniswap and saying, "Why are we making people do this? The point of technology is to automate the things that people don't want to do." So whenever we can do that, I do aim to include that in the product.Jisi (14:42):Yeah. That's definitely really interesting, because I think if you were to ask someone, they might…

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