Egg Yolk, who's the GOAT, we know
it’s the Chico Army & welcome newbies, join us by subscribing, and dropping that
title of viewer of the tube. My name’s Tyler, and this channel sneaks up on you with the
best crypto content, kind of like this…the greatest of all time GOAT.
It’s time for Chico Crypto! So Polkadot, their ecosystem…it’s been growing
& it’s been growing more furious than any other which can be seen as competing with Ethereum.
And, that’s because Polkadot isn't competing, they are attempting to enhance,
and enhance quicker than ETH 2.0. And there is a significant amount
of opportunity across the projects building on Polkadot or Kusama, but, just
like blockchain, that is open to build upon, there will be those looking to take advantage
of hype and naive ready to FOMO investors. So today, I would like to dive right back
into, one who is at the top of my list…and there is still big opportunity,
as they have big releases coming, and they are still on page 3 of
Coingecko, that is XOR, Sora Network.
So, what could be coming
from them? Well Polkaswap, is coming….the uniswap, for the
polkadot ecosystem and beyond… Beyond? What do you mean by that. Well
1st, let’s see when it’s coming Polkaswap, from their roadmap, the testnet
launch is coming this quarter, and they did it, they dropped it on Friday of
last week, polkaswap on the testnet, as we can see from the Dev update, it was dropped on the
Rocco testnet…but going back to the roadmap, the mainnet drops in quarter 1 2021 but also,
in q1 the Ethereum bridge….so what is this? Well going to their another DEV
update, for Polkaswap, they said this “We’ve successfully tested an interaction between
Substrate and Ethereum nodes through off-chain workers as part of the implementation
of the bridge to the Ethereum network” Like substrate offchain workers… So, what is Polkaswap exactly? Well it will
be a scalable, cross ecosystem swapper. You will be able to swap Kusama, Polkadot & Ethereum
based asset’s through their polkaswap interface. Although Polkaswap is really just the icing
on the cake with XOR and the soranetwork… So, for those of you who do not know,
Sora Network is from Soramitsu, and out of any blockchain project out there, they
are the furthest along with a CBDC, central bank digital currency,
even further along than Ethereum.
So Soramitsu, has also created hyperledger Eroha, and going to this September medium post
about Validator rewards within polkaswap, they showed, that polkaswap, would
be powered by Hyperledger Eroha. So, is Hyperledger Iroha already powering a
CBDC? Yes it has been, and for a good while now. Thee Hyperledger, the foundation posted this video on their youtube channel in April
of this year, let’s listen in… So, you get it? Thousands of live transactions
were happening back then with Iroha & a central bank digital currency, they were the first to do
it & the only to do it. And guess what? The World Economic Forum, in their CBDC Policy Maker
Toolkit, yes a toolkit for constructing one, in the sections, implementation strategy,
references the Iroha & national bank of cambodia CBDC pilot, and go live saying they “likely
developed the first full-scale deployment of a quasi-form of
CBDC” Booyakasha! And now, it’s fully live, Bakong on Hyperledger Iroha, with commercials
going across the airwaves, hating on Fiat, and pushing their population to
Bakong and thus on Iroha as seen here. So, if all of Cambodia is going
to be on Bakong & Iroha, which is fully in motion right now, millions
of transactions will be happening with Iroha… But, I want to relate how important this is
to Polkadot, and their ecosystem, as it’s a two way road.
So Iroha, is in v1 right now,
but will be transitioning to a v2 architecture down the road, and from documentation
on v2, within the applications layer, Iroha will be designed with Iroha Substrate.
Like Substrate from Polkadot’s gavin Wood. Well of course it is, because digging
deeper into Iroha documentation specifically architecture decision logs,
which was just posted in August of this year, substrate off chain workers are specifically
mentioned. Then going to substrate documentation, of course there are offchain workers,
used within the substrate runtime. Now, what else have I become bullish on? Something
semi new actually, and it comes from a DeFi tool, I’ve been bullish on since last year, when I
made this video “Under the Radar DeFi Tool? Token Sets”…yes token sets, which automatically
let’s you create investing strategies, within tokens…and as we can see, a
featured set & the top performing set over the past week, with a 45 percent gain,
was the DPI set, the DeFi Pulse Index… So this SET, is basically a tokenized index
fund, which tracks and weights itself based on the top DeFi projects, which the fund is fully
transparent on tokensets including the holdings, with the likes of Uniswap, AAVE, Yearn & more.
And this token set has been pushing up feverishly as of late, it’s on page 3 too, number #251,
with a market cap of just over 22 million.
But, this is just a tokenset, it’s a basket of
altcoins…it’s not really from a “project perse”, as we can see from tokenset info, it’s actually
from DeFi pulse…but really it’s a partnership between the two…DeFi Pulse & Set
Protocol put out a blog post about the index’s launch back in September,
and this is what they had to say “Today, Set and DeFi Pulse are extremely excited to
announce the launch of the DeFi Pulse Index Set on TokenSets! The DeFi Pulse Index (DPI) is built
on Set Protocol’s new v2 infrastructure….Indexes are the first major product addition to
the protocol as part of the Set v2 rollout. With the launch of Index Sets, we’ve added
support for a range of new tokens with more assets such as additional stablecoins, liquidity
provider (LP) tokens and synthetics coming soon… Soooo, this isn’t the only “index” that is coming, but a wide variety of index tokens, which will
be deeply ingrained with the DeFi ecosystem. And since these indexes are just erc20 tokens,
the can be used with that DeFi ecosystem as well, as collateral or used in yield
farming as a staking asset.
So, how will this all be “powered”
and governed…how will indexes be managed in a decentralized manner?
Is tokenset’s or DeFi pulse going to be launching their own governance tokens?? Well sort of…and they kind of already have.
And the token is called none other than…Index. And if you miss my live streams, I feel bad for
you son, there’s 99 shatcoins, but my picks ain't one. What do I mean? Well over the past week and 2
live streams, I have covered it…found it early, before the hype, but let me tell you, there I
believe there is still room to grow with this one as with it’s recent movements it’s still
under a 5 million dollar market cap.
So what is Index and how
does it relate to the DPI? Well going to their website, they explain
it…the index coop: creates and maintains the world's best crypto index products
which are always fully collateralized, and their 1st product? It’s the DPI,
the DeFi Pulse Index on TokenSets. So the index coop are the ones who
created it and currently maintain it, aka TokenSets and DeFi Pulse. Which is
confirmed if you just read to the right..it’s built with DeFi leaders, on
Set Protocol's battle-tested V2 infrastructure & the product methodologies
are sourced from experts like DeFi Pule. So this could be considered a token from TokenSets
and DeFi Pulse, not bad, too big ole names in the industry.
But what does it do, well in the middle
it explains. Index Coop is a Decentralized and Autonomous Asset Manager governed, maintained,
and upgraded by INDEX token holders. Sooo, it’s a governance and management
token for the crypto industries biggest INDEX defi products, with some big
names behind it. Ya, that interests me. So does the token only
govern? Is there more to it??? Like willy wonka’s chocolate
factory, oh ya there’s more… So, Felix Feng, co founder and CEO of the
SET protocol, put out a tweet that said this “A lot of people are confused
about what the $INDEX token is for. Here's a little bit of data of what it could mean
for holders..with a retweet from the index coop that says “The DeFi Pulse Index accrued
streaming fees for the month of October, generating $12k that goes to the Index Coop
treasury. What these DPI tokens are used for is up to the $INDEX token holders…with a
transparent etherscan link to the treasury.
So, the coop is collecting fees off of these top
indexes, 1st DPI and then the others they create and all of those fees may end up being distributed to the token holders, if they
vote on something like that. Very nice…but all that is known, out in the
open. There is 1 thing, that isn’t as “known” that might be coming soon, & would be a major boost for
the DPI and thus index. Collateral on Makerdao. And in 2 days, they are discussing it,
having DPI used as collateral with Makerdao, November 18th…where else are you gonna find GOAT
content like this? Cheers, I’ll see you next time!.