StakeHound walkthrough demo for the NEM Community

[Music] hi NEM community my name's Nick and today i'm joined here by Albert from StakeHound and we're going to be talking about staked XEM how exactly staked XEM works and the benefit it's going to have to the XEM community but Albert you're a crypto veteran you helped set up the NEM Foundation and you're the founder of StakeHound so I think you're probably the best person to give us an introduction to what exactly staked XEM is and also more importantly yourself thank you Nick for for for having me here today it's it's it's great to be uh here so essentially like a bit of background with myself I joined crypto in 2013 um just like investing in bitcoin and so on at that point I had a small consulting company in Barcelona where it's around like 2015 i started to kind of refocus it into blockchain right so I started looking into Ethereum how to you know sell that technology and very quickly realized how hard it was to sell you know solidity as a development platform right so I started researching around in crypto and I saw this this this this protocol uh very very small at that point which was called NEM which was essentially just you know you have an api you can control like the blockchain through this api so essentially you know all these different applications that were being built like you know games and like different services from different from different kind of companies in the industry could just be using through an api which is something that's very well known to everybody right so I joined uh NEM started working on building some of those things there like like an alias system like a land register system and eventually like this old like you know unraveled when like when like yeah god has to kind of create the NEM foundation which got very big like very quickly at the same time and eventually I just realized that you know there was something I was very curious and passionate about which was scalability right so i I joined Radix as the chief product officer and then I i spent kind of two years kind of focused on pre-DeFi right like what is uh the x what is the stable coin how should they be operating how would you kind of define those and eventually uh found that DeFi is actually something that is speaking up you know like I said well we started to see how that's actually growing more and more and more every time and just like started thinking like what actually makes someone be building on a platform right on a layer one right and it's it's essentially how much wealth there is right so the more assets and the more wealth you have in a single platform the easier or the more interesting is for developers to come to the platform and start building applications because all these wealth is assigned to the customer base for the use like the developers that are coming to build right so we eventually went to the to the point where we understood that uh well there's this thing called staking you know proof of stake is essential for these new networks and like well NEM was one of the first ones to integrate proof of stake with a proof of importance mechanism and this is a very very important and very effective and efficient mechanism to secure networks at the same time if there is uh DeFi coming up and there's so much like interest on it right so it's like growing and growing and growing essentially there's a competition between those two right you can look in into numbers for this you can see that essentially over the last three months uh basically three months ago the total value locked in staking was 25 billion dollars and now it's about 13 billion dollars right um if you look into the other side you look into DeFi you're gonna see that the well three months ago was about like three billion dollars now it's about 13 billion dollars as well so a lot of money is is moved from staking into DeFi so what we thought is okay so what if we could create a bridge between those two what if we can create some way so that users don't have to be choosing either one or the other because I mean staking is good you have these communities this these different societies are being built such as the NEM community which is growing faster and faster every single day right and it's a shame that they can't participate in DeFi right so why don't we build a bridge that allows them to be participating in DeFi right so that they don't have to choose just because where the yield is yeah no it's it's it is actually a really great innovation and that's half the reason why we are so excited to partner with you you know like initially when when the NEM blockchain was uh was first designed you know I don't think they i think they might have underestimated where the price was was headed and you know now now we're in an environment where it is quite expensive to set up a super node so i mean one of the main reasons that i was really excited about your platform is you're more or less democratizing staking for the whole NEM community and adding this great utility of allowing you know the NEM community people who who who base their portfolio in the XEM token to be able to enter into DeFi and and get these exposures in in what is a really fast growing market so yeah I mean it is a great innovation you have there Albert obviously you know being in the space for so long uh you you've found a nice niche to uh to build a new project so I guess on that um could you give us a bit of a background into uh what is well what is a staked token on your platform you know how exactly it works and what what we can do with with staked XEM.

Okay so um as you know like you've got the the different blockchains right normally have a very hard time to stick with each other right uh for example Symbol is gonna have some improvements that will allow it to be able to you know like the the Symbol to network to be able to for example trade against something like Ethereum for example right all these capabilities will be there but at the same time they are not really prepared in a decentralized fashion right what we're doing essentially is we're creating representations of a staked XEM right so what we do is essentially you say for example that you have ten thousand XEM what you can do from now on is you can send it to StakeHound the StakeHound in like in return is gonna give you an ERC20 token that we call the staked XEM and StakeHound is gonna cost you those funds set them into a institutional gate costly provider called copper and then delegate those funds the staking of those funds into a staking provider that's called all nodes right so essentially what we do is now you have uh StakeHound you can think about it like as the door of like an exchange it's like you know funds come in right and then on the other side what you receive instead of having the you know the matching engine of the exchange what you have is the whole DeFi ecosystem right so works kind of similarly what you have is that from then on anyone that is on DeFi will be able to participate like to to be able to buy a staked XEM directly on kind of a decentralized exchange for example right now while this is eventually like well this is essentially bringing NEM into DeFi we still wanted to make sure that this that staking of the XEM would still be you know affecting the people that hold the stakes XEM and so what we do is every single day when there is the reward from running the the nodes and like managing the network the staking of the network right every single time that there's a reward what we do is we distribute that reward to whoever is that's holding the staked XEM at that point so for example you send in ten thousand XEM you get back ten thousand staked XEM and now you can go into Uniswap for example and sell 500 of them right now someone else has 500 staked XEM what's going to happen is that in a few days he's going to look into his wallet and he'll see that he doesn't have 500 staked XEM he now has 505 because there has been a a one percent reward during this period of time to everyone that held staked XEM if that makes sense yeah I know it makes it makes a lot of sense and I mean that like as like I mentioned before that that's sort of in my mind one of the great draw cards to to your platform as opposed to other sort of DeFi sort of platforms because you you can get those staked rewards so you know it sounds very exciting me personally I am a trading market type of guy i'm not a technical person so if i wanted to set up something like this and and you know start staking my XEM and using them in DeFi is it a complicated process so essentially we've got that there is a uh like the staked XEM is unused an ERC20 token right so this is a token in Ethereum right now um in order to be able to use this so we're gonna have to have an Ethereum wallet right uh there's a very very common like commonly used one which is called Metamask and it's just like a chrome extension so I see that you already got it set up so that's that's even better so like what I would suggest let's set up a new wallet and let's kind of start from there sure so um i've got Metamask here I am going to create a new account so we'll call this StakeHound because i already have a stay can one there so we'll call it sh create and we have a new wallet so if anyone doesn't have Metamask and they're watching this it's actually quite easy um to set up if you just Google Metamask um you you just essentially download a plugin to your browser and it's fairly straightforward to set up a wallet from there as you can see I just set up a new wallet for this demonstration so we've got a StakeHound wallet there um what do we do next so um we're gonna go through this test right like actually like anyone can do this test themselves so i would highly encourage anyone to do that and this test is running on the Ethereum test net called Ropsten right so first thing we need to do is we need to connect to this network you can do that by clicking on on the top uh button like the main Ethereum network and change that to rapstand Ropsten right that's great Test network do you maybe ever could you just give us a brief overview of the test network um for anyone who's watching this you might not be sure so essentially you've got like uh on Ethereum like in order for people to be able to be able to test kind of different deployments different applications right there's different test networks each one of them have like different properties so they're better for one thing or for the other like you know maybe the block time is faster or slower maybe some of them don't have fees maybe some yes Ropsten is pretty straightforward this looks like pretty much the same as the Ethereum right i just like a bit faster uh confirmations and you do need to get some interest so so uh what it suggests is we need to have to to to go to the faucet right to the testnet uh Ropsten faucet so I see that you got the link there exactly so this is uh right so you just like if you can paste your address here um which you can just do by clicking on the address on the top of yeah exactly you see sh you just click there yeah and you can just paste it yeah exactly you'll see that pretty pretty quickly oh well now you have like yeah you need to make sure that you're not a robot let's see i'm i'm hoping okay the queue is too long we'll try again later okay all right that's the technical inconvenience as we can see on the uh Ropsten testnet here it's actually congested and that's why we're not getting our Ropsten ETH you know on the uh on the NEM blockchain i don't think we'd really run into this issue oh there we go we got our 5 ETH lovely okay so i've got five testnet ETH and i'm ready to get involved with uh StakeHound so what do I do next the the next step would be to try to buy some staked XEM right so on etm there's this uh decentralized exchange which is a bit special right it's not like the typical order book exchange like like Binance or Poloniex or Bittrex right what's happening here is that you have a pool of tokens and anyone can go and buy or sell tokens to this full of tokens right that's called an automated market maker right so um the the most common one the one with most volume which by the way is like a couple of months ago surpassed Coinbase in terms of daily trading volume right and it's called the Uniswap so what I would suggest that it is like please go to Uniswap and then we're going to try to buy some staked XEM okay so we're going to launch the app all right so so Albert we're here at Uniswap um i've already connected a wallet to Uniswap but perhaps maybe just for our viewers we should run through connecting a metamask wallet to Uniswap what what's the best way to go about this so um what you see here is essentially like these address like the zero x a5 is kind of the the the account that we used in our previous demonstration where we were discussing about this right and the first thing that we need to do is we need to make sure that this website is actually connected to the address to the account sorry that you want on on on on Metamasks right right so to do this what you have to do is you have to go to Metamask um sometimes there's a pop-up uh okay there's no power right now but if you see those three dots at the bottom at the right side sorry yes the right side you can just go to connected sites and then you can connect it manually right so now so we're not connected we want to connect yes exactly that's correct okay got it so you see now it's already detecting you see it says that there's a balance of five ETH right uh which is what you have in this in this account and now the next thing that we need to do is we need to make sure that we tell Uniswap which is the contract that we want to buy right so what's happening on Ethereum is that every single token lives in a different contract right it's a different address essentially right um on NEM it's a bit different like you have one single api and all the tokens are behind those apis and kind of they are really standardized right and Ethereum they're called standards as well but they actually live on different addresses so first thing you need to do is you always have to make sure that you're kind of touching the right uh contract the right token right so for example if you went into the you know StakeHound's uh telegram group and you asked around or you go to the website for example you're gonna be able to see the address in this case i'll send you the address on the like on zoom directly right uh so if you have it already copied what I would say is just go to select the token and if you paste it there you're going to see how it's going to be popping up here you see in this case you've already added it so that's already like in the cache of your of your browser no problem you see and now what you can do from here is just like directly you can just buy it right so you can put five ETH for example on the top form yes and it you see five ETH in this case is one thousand one hundred twenty three staked XEM okay right uh what I would say that is just don't send the full five eTH just like send four because you will want to have some more ETH in case you have to you know pay for fees and stuff so it was always handy and so so on fees we can see there's a price here is this what we're paying is this what our fees are automated market makers are a little bit different from what you were used to when you're like you know using Polonix or Binance or something like this right those are order book exchange right so in order book exchange you have bids and asks and like you know eventually they meet or you can take and someone can make all those things here don't apply essentially right what's happening here is that the price is defined by a constant function which is just essentially the division between um how many assets there is on one side and how many assets there is on the other side if there's 50 assets of a and 50 assets of b the the price is one right if it's 50 and 25 the price would be two right so it's just this number the price is derived and how many and there is this curve that it follows and stuff like reality is because of arbitrage it actually follows the price very closely right so normally you will always see that the price on the Eniswap is not that far away from what you would see like on the centralized exchanges the difference here is that you actually have people providing liquidity you have people that have deposited in this case staked XEM and ETH in this pool so that anyone can come in and can buy either one or the other but exchanging it right and kind of moving the balances of each one of those two assets a and b right so that the price the price actually changes with it okay okay and is there any way we can actually view the order books on Uniswap or well that's the thing there aren't order books right what you can see is how many assets there are in the pool and you can see how it would be affecting now in this case for example we're in Ropsten right but for example if you go to the view pair analytics it's not going to work because I mean please go there but essentially uh it this doesn't connect to the testnet so you will not see the information there what I would suggest is that you can just go to overview for example on the on the left bar yes and you can open here any any kind of uh token just click for example usdc yes and here you're gonna see when we click say this is the the token USDC right for the token USDC there's a lot of different pairs you see here you see USDC-ETH USDC-USDT if you click on one of those stars click on on any of this then here you're going to be able to see how in this specific pool how many USDC tokens there are right 321 million dollar million USDC right and how many ETH there are which there's uh almost eight hundred thousand eve right so there's no order book it's just those two assets on this pool and anyone can come in and buy or anyone can come in and sell either one of those tokens like every time that there's a trade there's a fee and this fee is obtained by the people that are providing liquidity so essentially you're allowing anyone to provide liquidity help their token and get fees in the meantime okay and so that's what this liquidity provider fee is down the bottom exactly yes that's correct okay and and obviously when the staked XEM goes live we would be able to see that the analytics over here exactly that's actually something that i think it's important to highlight right like um the moment that this is live what's going to happen is that anyone will be able to provide liquidity and providing liquidity is not just actually helpful for the project which it is because then it allows anyone to know that there will be a market and there will always be someone that will be able to buy or sell to you which is the constant function market maker right it's an automated market maker so that is very good for kind of the the price action around it but at the same time it is it is actually very juicy right if you go to to overview again and if you look into the kind of the top 10 tokens in in Uniswap you're going to see that you see go to the top 10.

That's like chainlink for example has 12 million dollars of liquidity and has a volume to a daily volume of 4 million dollars right if you do the math because they're keeping like those liquidity providers are getting essentially um 0.3 percent of the of every single transaction that is happening through there right if you uh do the math you're going to see that it's actually around like 24 percent per annum wow right that's the yield that they're getting just by providing liquidity to this token well to this specific token in this different token pairs right okay I think that that's very interesting and also so if we're doing it through through through StakeHound we would be able to get these these um market maker fees as well as the um exactly right so you you put it on the pool and while it's in the pool it's still generating rewards and those rewards accrue as if they were fees right so you're gonna you're gonna be able to do the both of them we can see the example of this if you want okay great this is a little side note look there's why the congestion yeah something happened to there I don't know i know what it is is that today yeah no no this is today that was yesterday not true anyway um let's go back to here so okay so um i mean we've got an understanding of of the liquidity provider fee i mean the price um what's price impact what are we looking at when we're looking at 0.68 percent right so because as I said before it's an automated market maker all it can play with is how many tokens are on each side right and then the the the thing is that if you're trying to buy or sell a lot of tokens in comparison to how many tokens there are on this on its side right the price will move faster right so for example if there are 50 tokens and 50 tokens and you want to buy for example 25 tokens yes you're gonna need a lot more tokens right so I think the mat is something like if from the 50 I want to buy fit I want to buy 25 i'm going to need to put in 150 right something like that right um that's that that even like makes the price go much much faster than it would in any other case right so what you want to do is you want to be trading always like you know in a fraction of what it's there so for example if there's 50 tokens or 50 tokens and you you try to buy or sell one then the price is like what's the price impact will be very very small right that's very effective very efficient much much easier than to do it for example on an order book exchange so what we need to do and we need to kind of uh you know invite people to do and like I think that that's that's that's something that's beneficial for everybody actually is to provide liquidity the more liquidity there is in the automated market maker the more that the less the price impact will be for people that want to trade in and out therefore the more fees that will be accrued generated because of this trading right yeah but but also on that does it work you know if there's not many people providing liquidity the the liquidity rewards will be higher so um the liquidity rewards depend basically on the fees that are generated on the automated market maker right um the more volume there is because it's on every single trade the more volume the more fees that will be accrued right the problem is that people don't like trading any token that doesn't have enough market depth essentially right because because of this like if i'm even buying 25 or 25 it's not a lot but i'm moving the price three eggs essentially that's not good that's not healthy for for my trade right um so you always want to have as much liquidity as possible for it to be you know good uh as a trading mechanism okay so there you are NEM community we need we need lots of people providing liquidity to our staked XEM pairs okay so um we've we've got our order in the book here uh what would we do next so essentially when you press swap what's what's happening here is that you're sending for it to the pool and the pool automatically is going to give you 900 staked ETH back Staked ETH as XEM back great okay so we confirm swap huh and we can see Metamask opening here we'll confirm that transaction submitted and there we go so we can see it's pending here all right Albert so i've received my staked XEM and the transaction has gone through here I can see that um in my wallet okay so there's multiple things we can do right like DeFi has a lot of different kind of products that you can use right and there's one of the this one that I found that I feel like is one of the most important ones it's obviously getting a lot of traction which is this this concept of automated market makers right so I would like to go through kind of the process of just like you know what what does it mean to actually provide liquidity to one of the pools right it's actually very simple you see on the top left there is this pool uh kind of section it's website yeah you can click here and then uh essentially what we're going to do is we're going to be finding this pool the specific for example staked XEM eth pool right and then we're going to send some more eth and staked XEM so that other people can be trading against it and therefore we can be getting those those kind of rewards from the trading fees right it's very simple just go to add liquidity yeah and then you have to select the staked XEM okay so you see we already bought some but so that's good right um I said before like try not to spend all the ETH or you're gonna have problems you know to to kind of uh you know be able to transact but you know if you like try to like put liquidity for say 0.5 ether and it's automatically giving you how much staked XEM you need to provide liquidity you see like in this case the pool is is quite healthy so you already got that this would mean that you would have 0.08 percent of the pool right so no not a massive percentage of the pool essentially that means that from every single trade that's happening there's a 0.3 fee and you would be getting 0.08 percent fee of all those trades right um you need to approve the staked XEM this essentially means that you're telling Ethereum that the Uniswap contract can take XEM from your address right i think it's pretty safe okay so you can just confirm that and when this is finished you're gonna be able to to supply liquidity to it right you're gonna be able to deposit it directly right um do you have any questions on like why like how this like yeah on the automatic the market makers fund so you know I i understand sort of order book depth liquidity market makers from from being a trader and and particularly my role at NEM trading I mean what I like is that um the the smart contract here will automatically you know uh input the correct amount of um both ETH and staked XEM necessary for the book uh so I don't have to go through and manually do that i I really like that I think that's i think that's smart i guess my question around that is is say does the the book automatically balance to maintain that 50 50 spread um on the bid and offer or you know say that say the book you know there's there's more bids than offers when I go to add liquidity will it make my my um share of the pool uh more offer heavy no so like the way that a constant function market maker works right is that there is one function that defines the price essentially right um it's kind of what i was saying before about the you know if you have 50 token a and 50 token b the price would be one right and essentially it's just like the price is always this function of how many assets there is on each side of the pool right so if you know someone comes in and deposits more token a and takes out token b right then what would be happening is that the price of the token a would be going down versus the token b because someone has bought essentially token b with token a right um there is always someone on the other side right there is no order book because essentially if someone is just like you know coming and picking it up from this pool of liquidity and anyone can pick it up in any direction as much as they want of course it will have an effect because this formula this comes from like this content uh function right it always applies in the same way for everybody right so yeah like what we're doing here is we're just like sending at the same time in a 50 50 ratio this number of ETH and this number of staked XEM essentially just saying that yes this is the price I agree with i'm just spreading more liquidity for this specific pair right okay right yeah so I guess essentially like yeah yeah like if you just click on supply what's gonna happen is essentially you're sending it in there and from then on anyone that's trading this pair is gonna be giving you a slice of their fees okay yeah again we'll send that off we'll confirm and there we go um amazing I mean like there's not much more to see like we we're going to see like in a minute if you go to the previous screen you're going to be able to see when it's kind of confirmed and everything yeah no no it's just like on on the arrow next to the liquidity yes it's really telling you that you have this position you see okay exactly you can click there manage and then you're going to be able to see you're seeing your pool tokens that's how many pool tokens you have right how much staked XEM is in there how much ETH in there and what the share of the pool that you own right now uh with those full tokens essentially right yes again once this is live we'll be able to see all of our analytics here exactly yes he's going to be able to see what were the last trades where have been like the 24 hours volume how many fees have been accrued so and so forth right right okay I mean I mean so far it's like it doesn't connect to Ropsten like this this tool for that Uniswap yeah right okay so to to kind of uh continue with this like the the next step is how do you actually get the rewards right so but I would suggest this for example uh I mean you can already see what your wallet looks like so for example you can go into Metamask and you can click on the view in Etherscan for example right and we're going to see how many tokens uh yeah go to Metamask right now the the zoom things in the way it was yeah okay cool okay that's the zoom thing right there okay so yeah just go to yes right I think I think it's the different ladders than the one you're having here i believe I believe so what are we doing here yes and then on the three dots you can see v1 ether scan that will be connected to your to you to the Ropsten testnet again and then if you click on the drop down if you click on the on the drop down you're going to see that if you click on the yes exactly right now you have 768 uh staked XEM 788 staked XEM right awesome um so what we're going to do now and I think it's it's actually easier because the reference the refresh works better on yourself but what we're going to do now is we're going to have a rebase right we're going to essentially see what it would mean if we had a ten percent change uh kind of a ten percent reward today right so i'm gonna tell my colleague to like to to to uh to actually do this I would say what he's gonna be doing is he's going to be like uh telling the system that there has been a 10 percent reward that we need to distribute them on amongst all the holders right um if you want to go about to go back to Uniswap I think it's refreshing better so it's just like yeah just select Uniswap and you can go back to the swap to the swap place yes exactly select uh staked XEM say 788 right so what's going to happen is that uh suddenly we're gonna see how this number is gonna be changing right the way that this this works is what's called a rebase right so what's happening essentially is that the tokens that you hold are not really like tokens per se they are kind of a percentage of a supply right so what we do is every time that there's a reward we add this reward to the supply of the token so that with one single transaction we can be changing the balances of tens of thousands if not millions of people with a single transaction just by this is how we distribute the rewards in a daily basis right that's how we can achieve this right so we're waiting now for Edgars to to do the same and he has already done it we're now waiting for the confirmation of the of the on the network right and very quick like at any point in time you're going to see how this 10 percent uh rebates happened right one thing to note here is that actually you will see if we will go back to like later if we go back to the pool you would be seeing how the assets that you have in the pool are changing as well right so you will have that there's an increase on how many tokens you have put before on the pool on the liquidity pool right and this means that people can come in and the price is going to be lower because the change is that the function that i was talking about right but because in this case it's a 10 percent it's pretty high but essentially that becomes kind of fees that has been deposited to the pool as well right this is like increasing the pull it doesn't mean that you're losing any money there you're actually getting the rewards directly on the liquidity pool right as you can see here now there is a balance of 867 staked XEM exactly right so and that's the thing now you can just go ahead and you can sell them you can buy them you can prime more liquidity you can withdraw the liquidity all these different things right Albert you've taken a lot of time out of your day to run us through how exactly we do this um is there anything else I need to know or is is this basically you know if i'm watching this video I can run through these these steps and this is essentially how i'll use my uh staked XEM uh or are there any other steps we need to be aware of no I mean i'm that's essentially like I said we're trying to make it as simple as possible right um now if anyone wants to try it today like this same test that you just did right now is actually available available to anyone just join our Telegram group at StakeHound and like that we have on the website as well you're going to see that there's a row for for for for them you can click in there and you can it takes you to the test guide essentially where you can go through the whole process and like you can ask as well on the telegram group and then we're going to be sending you some some staked XEM to get started with if you don't want to go kind of and just like buy it on the on the on the testnet Uniswap right um that's one point the the other thing is that on the in the next few weeks essentially we're gonna start is what we're calling the hunt which is essentially a process when anyone that that wants to have kind of wants to acquire the staked XEM early on right they can start before we launch the token itself the goal of this essentially we want to launch the staked XEM with enough supply so that it actually makes sense for us to then go to AAVE and like convince them that they they should be listing their token right all these different different applications we want them to be using it and it will only happen in their distribution supply of it right so essentially the more people that tries the the the process on the testnet for example they understand the more education we do on the what is a constant function mark maker why providing liquidity is important all those different things are given that's something we're doing very closely with NEM Group and I think that we're doing a very good job with that um another thing is like as we continue that education as we start on boarding people so that they can participate early on there's going to be some reward that we're going to be giving to people that participate in this and eventually the the ultimate goal is just to have you know a much bigger door between you know the NEM ecosystem and the DeFi space right so that mobility is much easier much less friction and people on Ethereum can just buy staked XEM without having to worry about like opening accounts on Binance and downloading new wallets and all that stuff to make it easier right essentially and that's it like um yeah just like actually be be running live when when can i actually go in and stake my XEM so our goal right now is essentially to start with uh to launch the staked XEM by the end of November essentially right so we want to do it really pretty quickly we're going to start like the hunt whatever this event was i was talking to you about uh where are we kind of like you know getting us like people that like early birds essentially right um this is going to be starting in the next couple weeks okay excellent and so have you got a date for that yet or it's it's not that it's like there's collective moving pieces but I i it should be before before December if everything goes okay and we can stay up to date with that by joining the Telegram the StakeHound yeah so yeah we have this this this uh typeform as well I assure you I please the telegram absolutely helps like you know like following us on twitter absolutely helps as well we've got an announcement channel and essentially um yeah there's this typeform as well where if you feel it then you can express kind of your interest on participating in in in the system what's going to happen is that when we launch the hunt for for example we're going to be letting you know hey you can start to participate now you can join us and then like that's how you know like the onboarding process takes you through the whole process of you know uh going from I have some some XEM do I have some stake exam and now i'm providing liquidity and the whole thing will be you know incentivized in different ways and like it can be gamified as well so um yeah like just join our community uh follow our you know like uh our announcements and we we try to do like different sessions like uh assimilating sessions on interviews like that like this the other goal is just to try to educate people and just like help help them understand what DeFi is because it's such a new thing and so big that it's really hard to you know for many people to put their their heads around it without you know spending full time you know just learning about it yeah yeah okay well Albert look thank you very much for running us over how to how to stake XEM and how to operate with with Uniswap um it's very exciting uh so very keen to to get involved in the hunt there and also keen to begin staking my tokens on your platform so uh yeah once again thank you so much for your time and thank you yes um i'll be chatting to you in that telegram chat can I have an issue amazing thank you very much and yeah like uh I appreciate this and i'm looking forward to the next conversation catch you later

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