GoGoPool, Landslide + Savvy DeFi hosted an AVAX Q1 review with Avalabs to talk about all the innovations and partnerships that got announced.
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GoGoPool Twitter: https://twitter.com/GoGoPool_
Savvy DeFi Twitter: https://twitter.com/SavvyDeFi
Landslide Twitter: https://twitter.com/CosmosAVAX
GoGoPool, Landslide + Savvy DeFi hosted an AVAX Q1 review with Avalabs to talk about all the innovations and partnerships that got announced.
For more content like this hit follow!
Social Links:
GoGoPool Twitter: https://twitter.com/GoGoPool_
Savvy DeFi Twitter: https://twitter.com/SavvyDeFi
Landslide Twitter: https://twitter.com/CosmosAVAX
I would like to welcome everybody to the Avax Quarterly review. We're talking about Q1 today. Um, I am joined by some of my lovely hosts. I'm joined by Nathan Windsor of Landslide Network, as well as Alex Lumley of Savvy Defi. Say, what's up, my friends? Yo, yo. Wow. If you guys said anything, then that means that my audio is rugged and it is tragic. Did they in fact say, they said things. Okay, so my audio is, so we're gonna have to do this. The, uh, do this the other way. Gimme just one second folks. I'm gonna log in from my computer. Unfortunately, there's gonna be a, like a five second delay, but at least I will be able to hear people, so we're gonna have to do this. The, uh, Yeah. You guys know how Twitter's faces goes. It's very, very unfortunate. But we gonna keep this, we gonna keep this show rolling everybody. We don't let anything stop us. Nothing can stop us. Um, and so I'm joined by my lovely co-host as well as a be of avac community builders and community members. I'm so excited to have everybody here. I'm joined with uzman, Ava Labs, developer relations. Say, what's up my friend? What's up? What's up? Oh, perfect. I can hear Uzman. That is lovely. Um, I'm also joined by Parker Heath, Ava Labs Gaming. Bd. Say, what's up my friend? Well, thank you. You're too kind. Hey, everybody. What's. Hey, hey, hey. Oh man, you got a soundboard too. Let's go. This is great. I'm also joined by Morgan Crosky. That's Ava Lab's, director of bd. Say hello. Hey guys. How are you? I'm also very impressed that you got my last name on the first try. Hey, I was, I was actually practicing, so thank you. Um, also joined by Daniel Coleen, Ava Lab, senior bd. Say, what's up my friend? Let's go. I wanna match your energy the whole time. Cause you're, you're full of it. The, the energy. So I, I wanna keep, I wanna keep up with that. Daniel know if there's anything that I'm full of. It is definitely a whole bunch of energy as well as love for good kid, mad City, over to Pimple Butterfly. And next time I'm also joined by Stephen Gates, Gogo Pools founder and c e o say, what's up. Howdy, howdy. Awesome seeing everybody. Glad you are here, my friend. And last, but of course not least, I'm also joined by Austin Barrack of coin. Fun. Say What's up my friend. Hey everyone. Glad to chat today. Oh, hey, we're so happy to have you, my friend. We also got lovely, Patrick got here as well. I'm also joined by Patrick o Grady. That is Avala Head of Engineering. How are you doing, my friend? Good. Can you hear me all? Let's see, I, I joined here a little late. Excited to talk to everybody. Thanks for having me. Yeah. Yeah, we can hear you perfectly, man. Thank you so much for, uh, taking the time out to join us today and talk about everything that happened in Avax in q1. Just to kind of go over the, the agenda that we got going on today, we're gonna start off everything. We're gonna talk about subnets and innovations that happened in Avax. We're gonna talk about hyper S D K. A w m and Gogo tools. Of course, we're gonna talk about the Cortina update and Snowman plus plus of course. Um, and then we're gonna get the VC perspective, uh, from Austin Barrick. He's gonna talk a little bit about why, uh, he's so excited about Avalanche moving into q2. Next up, we'll go into gaming with Parker. Um, we're gonna talk about some of the innovations that happened in gaming, as well as we're gonna talk about that local partnership as well as the TSM partnership. And then of course, we're gonna kick it over to Morgan Koski and Daniel Ling. To round everything off, we're gonna talk about partnerships and innovations that got announced. Talking about Shopify, we're talking about Amazon. These are huge, huge partnerships and very, very excited to talk about everything. And then we'll round out everything with some closing remarks from our lovely panel here. Um, I guess just to start everything off, I'm gonna go ahead. I know Patrick, you just got in, but I'm gonna pick on you immediately. Uh, can you talk about some of the updates that happened in Subnets? Um, then let's kind of start off with a hyper sdk. Yeah, sure. So, I mean, uh, as we look at like, all of what happened in, in q1, right? So like right at the tail end of Q4 last year is when, uh, avalanche wart messaging shipped, uh, in avalanche go 1 95. So the first wart message on main net was sent, uh, around that time. And so as we entered into q1, what was really important, uh, was finding more ways to build interesting virtual machines on Avalanche. Um, I think most people at that time, uh, really still thought that like developing and deploying virtual machines on avalanche was a function of how many evms do you want? Um, and I think that that really, you know, is a sh sells short what the capability and possibility is. But whenever we said that, people are like, well, do you have any other examples of like, things you could do that are using a different virtual machine framework or SDK framework or anything like that? And uh, the unfortunate answer is typically no. Like we had the spaces virtual machine, which is a simple, um, kind of like name service esque, uh, virtual machine, but nothing generic or powerful enough that really was interesting or at least rivaled the EVM in any way. Um, and so the hyper SDK was our answer to that, which was me staying up every night from like 10 and 10:00 PM to 4:00 AM writing code about how you could potentially build a generic, uh, virtual machine. That could still retain, you know, a lot of speed and performance, but be avalanche native and take advantage of the best that I think Avalanche has to offer. Um, and so the hyper risky K yeah. Was probably our, you know, this in Cortina, the largest contributions AVA Labs has made to the, um, to the, to the avalanche ecosystem in, in q1. Um, and, uh, hopefully, you know, we'll continue doing that with the Hypers DK pushing Wam, uh, support on there. And we just finished, uh, the avalanche wart messaging integration into Hypers DK as well. So, yeah. Quick question on that, Patrick. What does supporting Wam mean in this context? Yeah. So I mean, I think in, in the case of the Hyper sdk, uh, most people are like, cool, you know, I can build some sort of like application specific interaction, um, with the hyper sdk. So I, you know, I put out two examples. One, the token vm, which lets you mint tokens, trade things, and swap between other token VMs. I also put out the index vm, which lets you like, kind of annotate data on the web. But you know, one of the things that excites people the most about blockchains is the ability to deploy permissionlessly, deploy contracts or generic functionality to a chain, uh, that other people can interact with, right? And permissionlessly build on top of. Um, right now the hype risk K doesn't have that support. So if you wanna build new functionality into it, you have to deploy a new type of, what we call an action. Um, and you know, that's just, Flexible enough, uh, to really become a primary, you know, virtual machine. For many people, maybe it's great for super optimized interactions, but typically you want some mix of very optimized actions with totally generic interaction. And so, uh, as we thought about ways to do this, uh, you know, one of the things that came up time and time again was using wam, uh, and the, specifically the deterministic subset of instructions of wam, um, that allow you to compile any many common languages like c c plus plus rust, and even assembly script into this wam intermediate format that, that we could then execute, um, on top of the hype rescue case that people could deploy arbitrary contracts. So what it means when I say wam is contracts, as people call them. I would say they're more like programs though, but the lingo these days is smart contracts. Dope And Wam, meaning the web assembly intermediary? Yes, correct. Okay. So like a Wam Transer that'll compile out. Does it compile out? Maybe This is, well, it's actually the whole, it's actually the whole Wam engine, not just a transer. So it, like what we would embed inside of the Hyper DK is actually like a run, run time. Not, uh, not some transer into like some hyper SDK thing, but the hyper SDK itself would execute Wam, uh, on chain. Yeah. Got it. Dope. Yeah, we're big Wam fans over here. We're, we're, we're about to open source the, the Cosm Wam, uh, SDK in a, in a couple weeks. Yeah, so Kawa relies on a runtime we've been looking at called Wair, um, which is one of the most popular ones. I think it's also used by near, it's also used by, uh, I think there's one or two more folks. But, uh, long story short, it's just really powerful framework now. It seems like the Wam runtime part is getting pretty commoditized at this point. And the part that people find interesting is actually the injection of different functions into the wazo environment that any contract can call, as well as, um, kind of the tooling you can use to deploy down into Wam. So, um, yeah, it's interesting. It's very, it's kind of like the EVM of other stuff. Maybe it's a good way to describe it. Uh, I'm, I'm curious, um, uh, Patrick, cuz I, I, I'm not like a dev, so like, my, my knowledge of, you know, wise and SDKs is, is, is sort of limited. Um, if, if I'm just like a developer, you know, why, why does like a Hyper SDKs release, why, why does that get me so excited? Yes. Good question. So, I mean, the, uh, it all comes down to eventually transactions per dollar. How many transactions can a user submit per dollar? And then how many transactions can a subnet process, assuming that, you know, validators process per dollar. And really the hope of a lot of the stuff we do in making things cheaper and easier to run is maximizing the transactions or let's say the resource efficiency per dollar, um, that you can run a whole network on. Cuz eventually that ends up being how useful the chain is, right? Like if your max throughput, um, on the network is super high, but your ratio of transactions to dollars also is terrible, right? Like, yeah, you can process a million transactions, but maybe it costs you like per second, but maybe it costs you like a hundred million to do that, right? It's not super useful. But if instead you can process, you know, 20,000 transactions per second at the same cost efficiency that you could process maybe 15 transactions per second on the E V M. All of a sudden that becomes really interesting to a lot of people. And so the hyper SDK is dedicated to driving that number up. So the ratio of transactions per users, uh, up. So basically making it sustainable to have extremely I throughput networks by taking advantage of the best of what Avalanche has to offer. Gotcha. Got you. Ok. No, you got it. Austin. Sorry. Yeah, I, I, I don't wanna necessarily take the conversation too technical of a turn, but I think there's some interesting things as part of the hyper SDK that's maybe worth digging a little deeper in, like, uh, dynamic state sync. Um, and then some of the optimation optimizations that have been done on like nons list and expiring transactions. Um, and, and also like state prefetching and things like that. Yeah, I mean, how much, how much time we got, you know, like, take the rest of the hour. Yeah. Uh, yeah, I mean, they all serve the same purpose, which is like, how can you sustainably process more transactions and thus make everything cheaper? The, I think the core innovation I'll talk about there is really wrapping this thing we call the Merkel database, which is a thing we're building, which is a path based radi tri, um, that basically is the state backend for the hyper SDK and will soon be the state backend for the X chain as well as the P chain. Um, which is just a, hopefully a really efficient Merkel database. And the reason why it's efficient is that it's very good at getting rid of data that is no longer necessary to validate block. So, for example, I ran a DevNet yesterday, uh, sustained 7,500 TPSs across, I think it was like six nodes in aw f uh, I processed 120 million transactions. But the state store requirement after processing 120 million transactions was 125 megabytes because we, it's really good at getting rid of state that is no longer useful. Now, if you do that with other databases in other virtual machines, uh, you're not gonna get 125 megabytes for doing something like that. Um, and so, uh, you know, as we think about, you know, what sort of innovations we're providing to the hypers, dk, uh, you know, if you're building on a foundation of sand, you can only go so far. And so we're spending a lot of money and resources and time building out the Merkel database because it's so core to being able to actually do any of those performantly, right? Like, if I can process a hundred million transactions, but then I end up writing like 20 terabytes of data, probably not good enough. But if I can process a hundred million transactions and, and write 125 megabytes of data, and that stays constant for the number of accounts participating, now we're talking. Maybe just to take it, take it up to a little bit higher of a level and as someone that didn't even know how to spell s d k before I, before I took on this role. I think part of, part of why we're, I think excited about, um, hyper SDK and, and other SDKs and, and VMs kind of rolling out, um, within the avalanche ecosystem is the idea that Avalanche kind of started. And it is obviously E V M compatible and a lot of, um, a lot of our partners obviously are, are building using E V M, but at the same time as different, uh, VMs come out that are kind of optimized for different types of use cases, like those in like financial services for example, avalanche is able to adapt and kind of grow with, with the development of different VMs. So that's something that I think is really exciting for us. Where. Um, you know, as different use cases come out and as different, um, kind of innovations come out, it's something where the network can kind of grow and adapt to those. Um, and obviously Hyper SDK is, is headed very much in that direction. So at a high level, that's kind of h how I look at it. And I think over the coming months, um, you guys will see others kind of building out different, different SDKs and, and VMs to really kind of take advantage of avalanche's architecture. Well, I'm e I'm excited for that future where we start seeing all those VMs start to get built. Um, I, I wanna take it in a, in a little bit of a different direction, um, towards some tooling that's being built for subnets. Um, Gogo Pool recently released, uh, Gogo Tools tooling, um, to help out with subnet development. Um, Steven, can you kind of take the range and just give folks a little overview about everything that was built? Yeah, so that in is in a slightly different vein. So like what Morgan was saying, it seems like most teams are building using these subnet vm and even as we're building our own Summit VM things and hosting, hosting different subnets that are using Subnet vm, um, there seems to be this unmet need of single node development where right now there's, uh, I think this is gonna get pretty technical again, but right now there's some pretty good tooling around having multiple nodes running on your laptop and then you playing with that. But if you're only doing the subnet VM and that's really the only thing you care about, then we basically just took that tooling and cut out 90% of things that weren't related to Subnet VM and then just exposed the couple ED points for people so that now within just a couple minutes, you can have a subnet UVM running on your laptop with the RRP C url and just play around to different bug pile. Um, and it, it's really meant to be just like one little utility in the toolkit. Something we're excited about. It's kind of expanding on this a lot more. We're kind of planning out what that would look like right now. Um, but I find this as just purely complimentary to all the good work Patrick and, um, Patrick and Co are doing, where I think the future of Avalanche is gonna be this high performant, VM agnostic network. Right now most teams are getting kind of bogged down with the subnet U V M and different kind of pain points or friction points that they're having with that. Um, so we, we just kind of gather this open source, um, repo or, or go to those repo, just like help out a couple people that we were working with, uh, alongside working alongside for their subnets and then just kind of open source stuff for people. And now we're looking to kind of flesh that out a little bit more. Cause it seems to be, um, becoming pretty useful for at least the current wave or the current cohort of people who are working on subnet E V M. And Steven, can you go over a few pain points that you kind of noticed from people who are working on subnet? Ebms? Yeah, so this, you know, I'll, without getting too insanely technical, I think the main thing for, I think, Patrick, you said this and this resonated with me, is that for new developers, like people are com comfortable now with Solidity and then for new devs who want to kind of jump into building an app chain cuz they have a really cool idea or, or there's some sort of pain point they're having that requires an app chain. Um, people like devs aren't the type that'll just pick a technology, just run with it. It's more like ramping up of trust and kind of playing with the different knobs and levers and understanding what the different trade-offs are before they fully commit to like building out a full product suite. Um, In terms of the first P point we're seeing from, at least with the teams that we were working with, is this metric of time to rpc. So how, like if you start the timer of, you know, I, here's my laptop and I now I wanna like, play with the subnet VM and just test out avalanche consensus and maybe run a couple different unit tests on it. Um, deploy my empty marketplace on it and just try it out just to see how it feels. Um, I understand what the limitations are. Then the first, um, first milestone you'll have is getting back, like setting up the computer and then getting back the RPC url. Um, and it was just as they're using existing toying, we're just getting feedback, we're seeing people getting stuck, like asking us a lot of config questions of like, okay, here's avalanche go, but you know, what version of go do I need? Or, oh, I accidentally use an outdated doc, so like, let me reconfigure my environment. Or like, or like, you know, just whatever. It's just like these kind of admin overhead. Um, So we're like, okay, well what if there's an already compiled out avalanche go binary for people and they compiled out subnet VM binary for people, and then we just wrap that into this thing called Google Tool. I'll just boot both of them up. It'll manage the instances and then now people can, uh, we can distribute that and people can start playing with the subnet VM technology with in like maybe a minute, maybe a minute and a half, just to get everything set up and to get back their rrp C l And once they have the RRP C R l, that's the, then they get to like build the stuff that they actually wanted to build. Um, so that was the main pain point that we saw with Google tool. Got you. Got you. Appreciate you for that. Steven. We're gonna go ahead and head on over, back to, I kind of like, we're gonna focus more so on sea chain with this, uh, next kind of questions with, with, with these next kind of line of questioning. Um, I know that there was a cor Cortina update. Um, Patrick, would you be able to talk a little bit about what kind of came from that update? Yeah, I mean if, uh, first off, if you, uh, run a Fuji, anything so Fuji subnets or a Fuji node, make sure to update, uh, today cuz the activation, uh, on Fuji is tomorrow at, uh, 11:00 AM Eastern time. Uh, but the Cortina update is really about unifying a lot of the development on avalanche behind snowman plus plus. And so, uh, the X chain, uh, will be linearized, uh, tomorrow at that time. And so what that will entail, you know, huge change to the underlying X chain, uh, actually like infrastructure and, and what it means to run the X chain, but at the same time will finally allow us to really start pushing the X chain forward. So adding more complex transaction types and making it much more efficient to actually sync, uh, when starting up your avalanche go node. And so it's something we've been working on for. You know, over a year and a half at this point. So it's really exciting to see it finally, uh, come to fruition. Uh, the other one is obviously the P chain, um, deferred batching or batching of, uh, fees. Uh, and that will really help, um, you know, with the UX of creating transactions on the P chain, which right now, because of liquid staking, end up giving people tons and tons of u t XOs that they have to deal with. Um, so, and the last one is just, uh, increasing the c chain, uh, gas limit, uh, which will be really nice for deploying more complex trans, uh, smart contracts and also, you know, per interacting with contracts in more complex, uh, complex ways. So, uh, I think all of those are gonna be, um, you know, awesome benefits. I think one of them is gonna be behind the scenes, uh, with the X Gen linearization. You won't have to change how you construct transactions, but it'll make it a lot easier for, um, different people to integrate with the X Gen. Uh, which in a DAG format, a lot of exchanges and folks are not really well suited to deal with. Just a quick follow up question on that, Patrick. Um, you had said, um, that Cort is gonna allow for more complex, uh, transaction types. Um, just just for a person who you know, is not super, um, like technically inclined, I should say. Uh, could you kind of explain. Uh, what are the transaction types that you can kind of get going right now and then, like how do it get more complex with Cortina? Yeah, so this is, this is applying just to the X chain for now. Uh, I'm referring to, so on the X chain right now, uh, the transactions you can perform, uh, and, you know, uh, they, I would guess most people, you haven't even used the x chain in, in depth, but, uh, lets you like, you know, mint NFTs transfer those NFTs, you know, transfer coins around. And the reason for that is that there's no canonical state at a particular point during, uh, vertex execution. So all that means is like if you're using the C chain and you're interacting with the smart contract, you can do that safely because everyone agrees on what the state of that smart contract is when you interact with it on a dag, though, that's not true. So like, based on where the vertex is and like what it's connected to, the state may be very different for different people based on what they've seen in their network. And as a result, you can't do anything that relies on some notion of shared state. And so you can't really like create, uh, true decks on the X chain right now. Um, and so for example, what what we'll be able to do, uh, once the linearization occurs is, is incorporate any number of different transaction types on the X chain that rely on interacting with the shared state. And so those sort of things could be, you know, creating some sort of native decks, uh, maybe in the X chain to let people trade subnet assets. Um, you could have all sorts of interesting, think about it as anything that you could build as a feature chain contract. You could, uh, implement now on the X chain as a different transaction type. Um, but it's really about. You know, unifying the development there so that r and d is more targeted. Uh, and the other thing is that the exchange without economical state and without Snowman Plus Plus is, does not really work with warp messaging. So if we were gonna try to bring assets into the exchange from a subnet using Warp, it wouldn't work. And so by transitioning to Snowman Plus plus, we also, uh, unblock that capability. Uh, pat Patrick is, can you not build a deck because of the way that decks are currently built? I, I, the, the update from Goon was that, that, uh, it was like trying to fit a square peg into a round hole, so you can do it, but it ends up basically relying on like U T X O based smart contracts, where like you'd have to incorporate some number of UT XOs as an input to like some sort of trading transaction, which is possible, but not what people want, I guess, or enjoy even do it. Even the, even the U T X O maxis. Like the Bitcoin max? Well, I mean, so this is the, so the problem is you get end, you end up with limited throughput, right? Like you can only have one swap per time. And then when you want another swap, you have to take the output of the previous UT X O and use that for your next swap. Do you end up basically serializing interaction with the decks in a way that is much worse from a UX perspective than just all sending the same transaction because everyone, uh, basically gets their, uh, transaction invalidated as soon as there's one transaction that interacts with the decks, if that makes sense. Like the U T X O you were importing is no longer valid. You have to now reissue the transaction with the latest state of the U T X O in the decks. So it, this is the problem that Cordon ran into with a lot of their smart contracting stuff originally, and then they made like U T F O transactions malleable to avoid the, it ends up being this huge problem that has a questionable UX at best for people that are used to interacting with the e v. So possible but maybe not enjoyable, let's say. So is this some, is this something, some like future scenario that will, will roll back in some other scenario if, if the, if the decks landscape can, can deal with UT XOs roll back? Uh, no I don't think so. I think it's, uh, we don't really make two forward looking of comments cuz I think that the space is always changing. All I know is right now, um, you know, multi-step U T X O sequencing on smart contracts with no canonical state is pretty much an unsolved and really undesirable situation. No one's really looking, we're trying to innovate on that. So, um, but uh, unfortunately I do need to run a little early now, uh, for another to meet important meetings internally. So it's been great to get to talk to you guys and uh, I'll talk to you guys later. Thanks for having me. Hey, thanks so much for coming through, Patrick. Really appreciate you. Yeah. Talk to you guys later. Bye-Bye. Uh, so now we're gonna, we're gonna not wrap everything up. I don't know why I was about to say that. Uh, I was gonna say, wrap everything into some sort of burrito here, some sort of knowledge summary burrito. Mm-hmm. Um, but I, I, I wanted to kind of get Uz man's opinion on, you know, we have a w m that got announced. We have hyper SDK that got released. Um, we have Cortina, we have all these different things that happen in q1. Um, how do these updates affect subnets and AVAs moving forward into q2 uzman? Yeah, that's a great question. Pbe. I think Patrick set the foundation really well here in this talk about all the infrastructure that's being, that has been built on the engineering side in the past year to six months and three months that we've seen come out, uh, and is coming out daily, right? So you've got all these new SDKs that make it easier for devs to build virtual machines and hyper sdk. You've got updates of the Avalanche core platform with Cortina. You've got, um, avalanche warp messaging, all these pieces of infrastructure that are really gonna accelerate subnet development and make it easier for devs to actually view subnets as their preferred building platform. And, In that process of building that infrastructure, you've already seen many different builders, developers, enterprises, and companies start to look at subnets and say, Hmm, there's something really interesting going on there. Um, and as this infrastructure expands, especially with the hyper sdk, you know, it's something that I'm really excited for. Avalanche work messaging, all these things, um, are really gonna accelerate development in things that, uh, uh, on the dev side. So what you're starting to see, at least what we're starting to see on the dev rail side is that there's a lot of developers who are coming and starting to experiment with different primitives on avalanche. So you have couple different pools that I've seen personally. Uh, on the VM developer side. It's a small pool of developers, but the ones that are there are very powerful. Um, you're starting to see application. Uh, blockchain devs. And I think that's what the hyper SDK is gonna really encourage. Um, super high throughput applications that, uh, need to be able to run their own runtime at the VM layer are gonna be able to utilize the hyper SDK to do so. But then you're also seeing this other pool, which is fully touring, complete smart contract compatible virtual machines being poured over to Avalanche to be able to run their own like layer one ecosystems, right? Kind of like what you're seeing with a lot of, uh, different other app chain solutions. So there's a lot of developers who are starting to look at this infrastructure that's being built that Patrick highlighted, um, and. Starting to see the possibilities of what's can be built here. And I think with more use cases that come out, and I think there's some really awesome BD folks on this call as well, who can expand upon this point. But you're starting to see more partnerships, uh, uh, come out like every, every week, right? Like, I, I never know when these partnerships come out, they just come out and I'm just like, oh crap. Like, uh, we're, we're killing it, right? So you're, you, you, you see all the awesome folks who are actually using the tech. Um, and I think it's only going to snowball into a larger, you know, rush to the tech as more infrastructure is built out. Y you know, I think that's an absolutely excellent, um, answer. Uzman like all these different things, they're gonna accelerate development for, you know, subnets and projects on avalanche in a way that, um, we, we can't even really fathom right now in this space. But, um, you know, there, it's, it's just really exciting to kind of see the, the number of developers coming into the space start to tick up because yes, like you said, eventually it will hit that, um, that, that kind of space where there will be this reckoning where everyone will, uh, understand that subnets are the go-to platform for developers to build on. So very, very excited, um, for that future. Now, I wanted to bring Austin in here so that we can talk a little bit about the VC perspective on a, uh, on avalanche and subnets moving forward. Um, Austin, can you just tell me a little bit about what you're excited about, what projects you're kind of excited about moving into q2? Yeah, re really excited about all of the work that that Abu has done, uh, obviously on the, on the subnet side and in in particular, what that enables for builders to develop, um, customized flexibly, uh, constructed, uh, and performance, uh, app specific chains. And we're seeing that in, in two main categories. So, uh, within defi, and, and I use the word defi broadly, but you, you can think like completely permissionless on change defi or institutional use cases like, like we saw with KKR or other folks that are trying to tokenize real world assets and, and bring them on chain. And then on the gaming side, so, you know, tsm go, um, whole bunch of other folks, um, DF Dfk came last year and is is one of the leading subnets. So that's something that, that's really exciting that, you know, the infrastructure is really a. Finally, you know, getting into place after, you know, building a layer zero in a layer one blockchain takes a really long time. And I think people sometimes get too excited in the short term about what's nearby, but then, you know, don't have long enough of a view. Um, and, and we're getting to the point where like, AWS is here, enormous less amount of chains that the rest of 2020 to showcase what, what it can our already behind the scenes but haven't just, you know, hit main net. Uh, so, you know, we're, we're, we're bullish the ecosystem and the network. Um, but outside of that, A lot of, um, a lot of strong teams and, and particularly, you know, teams that don't have a lot of, um, exposure to, to crypto otherwise, but realize the benefits, like, for example, sk um, and, and the announcement that happened today, like on the loyalty engagement side, uh, for a lot of, uh, Korean consumers, uh, how subnets are enabled, are able to enable, um, kind of more robust use cases. So really excited about all that stuff coming to Mark and it, and it's all really, uh, coming to head right now. Um, real quick, Austin, would you be able to give us us a quick overview of what's going on with, um, the newest announcement with sk? Yeah, so, uh, and you know, I, I didn't, I didn't know anything about the announcement before it was released today, so I'm learning along with, with everyone else, uh, and, and maybe some of the. Hey. Hey, Austin, your audio's ru We remain in to come back to him when his audio comes back. Sorry, everybody. I'm having some, um, audio. Yeah, I'm, I'm having some audio hiccups. A Austin, I couldn't, uh, hear anything. Can you hear me now? Yeah, yeah. Can you hear you now? Hey, hey. Sorry. Yeah. In a bad cell service area. Um, but yeah, it, it's one of the largest Korean corporates, um, with, uh, tens of millions of real everyday users that have no exposure to the crypto ecosystem. And they're build loyalty engagement products that leverage blockchains, uh, and are building on subnets to. Got you, got you. I'm gonna have to research into SK a little bit more just so I can kind of get the full scope of everything. Cuz I mean this just got announced like a few hours ago, so this is pretty fresh. Austin, can you go into a little bit about how Coin Fund views the regular Nathan? I know you're saying something, but unfortunately I can't hear anything. Yeah, I, I was able to hear the question. Uh, it, it was just how we view the regulatory environment and, and yeah, the regulatory environment and like, like us, EU and global. Yeah. So I, I mean, as, as a lot of folks are aware, it, it's been challenging over the, the last couple months. Uh, and, and you know what everyone in the industry is looking for is some clear, bright lines on, you know, what. What we're able to do, what we're not able to do versus, you know, operating in, in an opaque environment. And then, you know, finding out the, the rules after the fact. And I think over the next couple years, uh, we'll get there. Um, but you know, we're, there's a lot of people, um, in different parts of government that are actually very open to crypto and realize the, um, financial inclusion that it can drive. Uh, and then there there's also a lot of elements, uh, crypto that are being, um, more widely adopted in Europe, uh, with some of the new frameworks that, that they're building out in Hong Kong, that they're op they're opening up the environment for, for more trading and more retail participation. Um, so while there's been, you know, some recent actions in the United States, I, I think, uh, it's not something that, that we're concerned about long term for sure. Uh, and we think that this is just a part of the. You know, feeling our process that that happens in an emerging industry. Um, and, you know, we, we believe it'll, it'll get to the right point. So, not, not sure I provided too much, uh, specifics or, or clarity there, but it, it doesn't change our, our long term outlook at all. And, you know, being at Coin Fund and working crypto and, uh, just being a part of this industry, I, I think we've all made the bet that there's not gonna be any, you know, draconian regulatory outcome and, and that crypto will be a very, very meaningful part of what the world looks like and how the world operates, uh, in the years and decades to come. Appreciate you for that. Austin. Sorry guys. I'm having some audio issues on my end, so I'm. Kind of delayed in my listening here. Um, but, uh, I wanted to move the conversation, uh, towards, uh, gaming on Avax, cuz we got, uh, we got my guy Parker here. And um, I just wanted to ask you a little bit about what are some innovations that you've been seeing built on Avax currently? Like what kind of games have you been seeing, uh, be built? Oh man, I would go ahead and say, and direct. You do, do we have a, uh, little. Banner at the top for the gonz announcement today. I think that one's pretty, pretty significant if I, you know, can, can speak for myself, but, um, yeah, I'm seeing a lot of, you know, innovation on the form of subnets and what games are trying to do to basically add value to future game developers. So we've seen this with Godzilla, where they're essentially building out their AAA title, um, game and allowing, you know, future game developers to leverage the technology that they're building and to deploy their games on, on the subnet, right? And so not only are they building a very legit AAA game, they're also leveraging the toolkits that we're providing via avalanche subnets to basically bring to market other games. And so I think that's, you know, one thing we're about to see a lot more of in hopefully future announcements as well, and just driving innovation to. The game developers to really leverage this toolkit and s e k that, you know, the engineering team has provided. Um, that's something I'm super excited about. And then, you know, another thing is really just making the onboarding process super seamless for the end users. And so of course that does take a little bit of time. We're all very, you know, conscious of how clunky the olden days of onboarding into web three could look like. Whether that's memorizing, you know, a 12 character or 12 word seed phrase to make sure that your keys are safe, um, all the way down to having to onboard. And I think this goes for everybody in the avalanche community, onboarding to an exchange, you know, going to the X chain, the C chain, right? We've finally slowly developed a very streamlined process for people to onboard and take part in this open economy that is web three gaming. Um, so that's one thing that I'm very excited about. Um, for the, for the onboarding part of things, uh, what have you been seeing teams do, um, differently than, you know, what's been being done in the past? So we have found a lot of infrastructure providers and are currently still, you know, finding partnerships in the world of infrastructure providers to make the seamless, like onboarding experience. Um, I'll just say from, you know, a recent announcement I think we had with the Stardust team who have made a. Robust product on the user experience side of things. So this comes down to what gamers really care about and that is playing a fun game. They don't care about going into a game, unlocking a digital asset, having to go to a third party web browser or marketplace to list their asset and, you know, potentially find a buyer seller depending on which side of the market you're on. Um, gamers just wanna play a game and if they see a, you know, cool skin that they want, then they should be able to do that all within the realms of the user interface. Right. And so I think Stardust and a couple of other partners that we have, um, really have developed and, you know, provided their time and resources into making this super seamless, um, user experience. So that's what we're seeing on our side. See, I love that there's, you know, been a focus on like, the user experience, cuz it is, it is kind of like you said, you know, if I'm. If I'm, uh, John B and I'd like to play a video game, um, on Avalanche, I, I, I have to learn like a lot of different steps just to, just in order to hit, hit that play button. Um, and so it's, it's good that teams are focusing on, um, getting rid rid of those barriers to entry so that more users can kind of come in and then that, so that not just web three users can actually use the game, but web two users, you know, just normal kind of gamers that, that they can also use the game, uh, play the game as well. Uh, Parker, I also wanted to talk to you a little bit about, we, we've had some huge, huge announcements in, in q1 and one of those announcements is the partnership with Loco. Can you talk a little bit about, um, how that partnership came about and, you know, just give a quick overview of, of Loco? Yeah, I can, I can definitely touch on that and I'll also pass the baton to my fellow. Partner Dan Coleen afterwards, who I know helped kind of liaison a lot of that conversation. But from the gaming side, I will say, you know, the real interest for why we focused in on Loco is, you know, we've gotten to a point in the market where we have several of these key games, um, that we've announced, right? Shrapnels of the world, Godzillas, this is non-exhaustive list, of course, but a lot of games that are finally to the. That, you know, they're actually fun to play and we need to find distribution channels. And so, you know, a key focus of ours is who do we partner with in order to get the most visibility to our games that we've sunk so much development time and costs into supporting how do we actually drive users in adoption to these games? And so partnering with Loco was, you know, a key, you know, step in that right direction. Um, not only from the distribution channel, but also from the demographics, right? That's us kind of really breaking into the Asia market, um, especially on the like eSports and entertainment side of things. But I can let Dan talk a little bit more about what they're doing on the web three element side of things, but just wanted to touch on, you know, the rationality behind the partnership initially. Sorry Dan, I know I'm tossing you a, tossing you one, but, uh, I know you have more context. I was not, I, I was talking, I did not listen to the left last. I'm so sorry. No, you're good. You're good. Just wanted to talk about more of like the relationship with, uh, US and Loco. I know that that's been, you know, largely the NFT version that's been supporting and Yeah. Okay. Got it. Got it, got it, got it. Got, got it. Yeah. Um, well, I'm not sure how much you talked about the game, but the NFT component, um, is basically a way for, uh, like basically like a top shot model, uh, for the streamers in the ecosystem to maximize their growth. So, um, obviously guys are familiar with, um, large streaming platforms like Twitch Loco and India has the same effect and people are very obsessive with the followings, other streamers, so they want to get in on the action of their stream. And then, um, as, as the streamers get, uh, you know, play games and offer opportunities to collect their ntts, there's, uh, like loyalty systems that come on top of that. So, uh, big audience, big effect expecting, uh, the, the, the chain to have a lot of volume just be, just because they have the, the 30 million plus, um, you know, monthly active, uh, viewers. So really excited for that one overall. Wow, that's, that's really cool. So they're doing a top, so you said they're doing a top shot model, right? So they're, you'll if I'm, like, if I'm a gamer, they're going to, uh, basically will screen I screenshot, but like, uh, take clips of my plays and then people will be able to buy them as NFTs is, is that correct? Uh, in portion cor uh, there, yes. That, that is, that is correct. But also there's the component of actually. Um, you know, the, the, the moments, the moments are collectibles as well as there's, um, kind of like these, uh, lo down the rabbit hole, uh, loyalty systems that open up more opportunities as well within the platform. Well, that is really, really cool. Very excited for that. I mean, for, you know, anybody out there who's like an eSports kind of gamer or watches eSports, like, that seems really, really cool. Like I'm, I'm one of those people that will sit down and watch two, three hours of a video game as opposed to playing two or three hours of a video game. So that seems kind of cool that I'd be able to, uh, I, I kind of harken back to my StarCraft days of Flash versus J Dong. If I could have got some, some J dong clips as NFTs, you know, I might be, I might be sitting pretty right now. So that's, that's pretty cool. Um, now I also, also very, very, very huge part, uh, partnership announced in t s m. Um, would Dan, would either you or Parker. Be able to talk about that. That's a Parker thing. Yeah. Hopefully my bean, hopefully the beanie and my, uh, p fp gives that away. But, uh, that is due in part by, uh, the relationship that we have with T S M. And so super excited about those guys, uh, working, you know, been working closely with them before, you know, about on a year, I think when I got onboarded back in April last year, um, you know, I, I just got into the Ava Labs world and, and you know, I think we were already having those initial conversations with, with Andy and the TSM team, and I was like, wow, this is, uh, this is cool. Like, I'm actually getting to work with, you know, people that I've, you know, watched Stream and, you know, kind of just see as like legitimate players in this space, in the gaming world for quite some time. And, you know, finally brought that vision to life here. Early mid-February, uh, or mid-March. That is. And you know, the real goal there is to facilitate right? eSport tournament transactions. It allows players and fans to store, sell, purchase digital assets, which I think is, is very cool. And, and the real value driver for the on chain perspective from, from the AVA lab side and the avalanche community side is all this is done with, you know, the AVA token, right? And so that really drives, you know, real adoption to mainstream gaming and something that I personally am very excited about, um, as far as just having utility in the gaming world with, you know, avalanche in, in general. And for anybody in here who's not privy to tsm Parker, can you just kind of give folks just a quick overview of who T SM is? Cause they're pretty good, for sure. Yeah, yeah, of course. And then, yeah, the excuse my, uh, my vertical expertise. I, I feel like everybody should, should know what, like, everything gaming, but I forget sometimes I gotta stop and kind of reassess my audience, so Thank you. Um, TSM is, I would say one of the largest eSports organizations by reach. So, you know, social media engagement, impressions. And then I've been around the block since, wow. Early 20. When was I, I started watching the TSM team stream on Twitch. It might have actually been Justin TV at the time. Um, back in, you know, 20 10, 20 12 when I, you know, first started playing, you know, league of Legends, right? They, they were really paving the way for what eSports and competitive gaming could do. And I think brought a, a very, you know, real. Legitimized factor for what, you know, playing games competitively, um, means. And so they have basically grown and scaled up their business to the point where they've actually productized and they've developed a coaching app, which is in the form of blitz.gg. You can go visit the website now. It is not using an avalanche subnet yet, but it will be. Um, so you, you might not like it, but you know, your kids are gonna love it type of thing. Where I think it will really coach the players. That's my line. Yeah. No, no, no. They'll get outta here. Um, so yeah, the real value of Blitz Gigi that we're bringing on chain is it will be a coaching platform to gamers and Ballant and League of Legends. And I'm not sure, um, what their roadmap is ahead, but I'm, you know, feel certain they'll be onboarding future game titles into that coaching application. Um, so that's really where their head is focused and where they're really trying to, you know, get value out of the, you know, value proposition that TSM is providing, which is their blitz, Dutchy G app. Well, one thing I wanted to, to add as well, um, for any like sports fans out there, t s m is the, uh, Lakers of, uh, uh, of gaming, uh, is is probably the right analogy. Uh, you know, apologies if you're not a Lakers fan, but they're they're that big. Yeah. Yeah. E exactly. Yeah, they're, they're beyond huge. I, I, if I'm not mistaken, I've definitely watched them before, so it's, it's very interesting. And I actually, I actually love the fact that they're have this focus on, um, coaching as well. Um, I have a little bit of a out of, out of the more out of the box question, um, for you Parker here, um, you know, what do you think that this is gonna do for eSports gaming like this, this, this partnership where they're gonna be able to help coach these kids on how to get better at these different games? Like, what do you think this is gonna. In the future? Yeah, I think we're gonna see the skill cap, uh, slowly start to, you know, really increase as the game and just really find a, I guess, ability for the average gamer to get a lot better at video games because of the accessibility that they have to these coaches. Um, think of it as being very early in the days of any traditional sport, right? Where there wasn't really professionals and then once there were professionals, there wasn't that great of access to coaching from them. But now with, you know, applications like Blitz, oggi and coaching apps, you know, these gamers who maybe traditionally couldn't get coached on things that they're doing wrong can. Get that. And it's just increasing the skill gap for these gamers to actually level up into onboarding into the next generation of like serious competitive gamers. And I think that's something that's very interesting that, you know, we're, we're gonna see, I think I watched a video on YouTube about like, the average age of competitive eSports player is around 20 to 23 years old. But in the previous, um, like couple of years we've seen that age somewhat the, the range kind of increase. So it's been like 22 to 28 and it's really allowing, I don't know, it's an interesting like, uh, I guess statistic to throw out there. But I think we're slowly seeing that, you know, coaching and, and applications like this, increasing the visibility of. Yeah, I'm, I'm excited for that, uh, visibility to increase. Um, I, you know, for everyone out there, I'm like, I'm not old, old, but you know, I'm, I'm, I'm my mid-tier man. I'm in my thirties and, uh, you know, back in my day when you play video games, your parents yelled at you. They said, what are you doing? You're wasting your time. But, um, you know, it seems like this partnership and everything that Web three is kind of building is kind of creating a reality where, uh, gamers can, can feel incentivized to play the game into, and, and be in a position to where this could, you know, possibly be a career. Um, so, you know, these, this, this is, this is really, really cool friends, and I'm, I'm very excited, gotta love what's happening on Ava and q1. And I wanna ask you just a quick overview. Parker, were you at G D C? I was at G D C with the rest of the team. I was there, um, on the ground. Oh my goodness. All right, so can you just give us just a quick recap, man? How was, how was, how was G D C, um, were there a lot of people interested, like just a lot of regular gamers interested in Web three games? Talk to me, my friend. Yeah, I would think, I would say that, you know, from an events and just marketing perspective, the teams did, you know, a solid job on the branding. There was no mention of NFTs of Web three. It was all just us showcasing legitimate games that are leveraging blockchain as an infrastructure. And so that was, you know, a really key driving point that I think the team did, you know, a standout job on. And so gamers would come up to our booth. They would play test the games. Um, I, we had shrapnel, rainy meta ops, uh, pulsar. I could list like all these different games that are just fun to play. And, you know, from, you know, real gamer perspective, nobody asks like, Like, why would I play this? They all just enjoyed the game. And then we were explaining to them, you know, the real use cases that, you know, run through each of these different games and either owning the different assets or being able to have an open game economy. Um, and the receptive, the reception was very positive because they were able to see and show, not tell. And I think that was like the real, you know, winner for us at G D C was like the show, not tell. Yeah. I, I think that's a huge win, man. Like, I, I, I love how Avalanche is branding themselves as, you know, branding themselves for gamers, um, with, with gaming on Avax. You know, I was, I was talking to Husky, um, while he was at G D C and he was showing me the booth and, you know, it wasn't even, you know, it wasn't even an Avalanche logo. You guys have changed everything up, you know, have completely changed everything up to gaming on, um, on Avax. And, you know, I think that's gonna be absolutely huge. And I think it, it gives a lot of credence to what you're saying about how things are moving to where Web three is kind of more, more so gonna be in the background. And we're, we're putting fun and the game in the, in the, in the foreground. So, absolutely. Love that. And now folks, we're gonna transition, um, to the partnership and innovations portion of starring Morgan K Petski and Daniel Colleen. Um, There were a lot of things that were announced in q1. We're talking about partnerships with Shopify, Amazon, nta. Um, can you folks just kind of talk, let's, let's start with Shopify, cuz that's Abso, Shopify and t y B x Y Z. Cause those are absolutely huge. Can uh, Morgan, can you just give us a quick overview of, of that specific, um, partnership. Just, you know, what, what exactly is gonna happen as a result? I think Morgan left. We're a little over time. That's all right. We can, we can cover it. Anyone else wanna take her her spot? I, I have to go as well. I apologize. Have a meeting. Cool. Brey, you wanna give us the wrap or, or do you want or want us to keep going? I was just talking that whole time on mute. No, I, I really, really appreciate you, uh, for coming out. Daniel. Completely understand. I know we're a little bit, uh, over time, my friend, but just wanted to say thank you. Yep. Go check out. I've been working on that. It's been taking a while, but it's really cool and it'll be really fun. I'm gonna have to have you, you back up here, man. So you, you can, you can give us a full overview about it. Q3, baby or q2. We'll do it. Yeah. Awesome. Let's do it my friend. Um, Nathan, would you be able to talk a little bit about, you know, the Shopify partnership and everything that's going on with that? Yeah. It, it, it gives them access to, um, referrals basically. So, so the integration allows for like, yeah. BA basically tokenized referral, re reward. So it's a gr Why that's important is because it's a very clear non-security. So that's super cool because it's, it's completely out of the, the, the, uh, the, the crosshairs of the regulators. And it's a very easy way for, um, the, uh, all the Shopify stores to bootstrap users by giving them like weird crypto rewards that are totally c. Nathan, I'm assuming you're done talking by the fact that you have muted yourself. Sorry, I'm on a five second delay. I can't actually hear Nathan's audio, so I'm listening on my desktop, but there's like a, a delay. It's very unfortunate. But I, I'm assuming you're done talking, um, and I'm assuming you gave an amazing overview of Shopify, of the Shopify experience and everything. I'm gonna assume it was so amazing that we don't even need to talk about it any further. But hey, um, we're gonna go ahead and wrap everything up. I'm gonna start doing closing remarks, everybody. Uh, we're gonna start off with Parker. Parker, you got any closing remarks? Anything that you wanted to say before we head on out? Um, I would say that we got our new gaming on AVAs landing page that you can find via our gaming on AVAs Twitter account. Uh, feel free to go stop by there still definitely, you know, building that out in the development, but it's definitely a good landing spot for people who are really wanting to learn more about what's going on behind the scenes with, with gaming on Ava. And I think it's a good just ref reference for you to share to your friends. Uh, but that's all I can really plug. Awesome, man. Thank you. And again, man Parker, thank you so much for coming on and, and talking about all the gaming innovations, um, that have been happening in q1. Hopefully we can do this again in q2. Uh, Nathan, you got any closing remarks that you wanna give to the people? Yeah, we're doing th this month we're opening our incentivized test net so people can stay in touch with us on Twitter. That's happening in about two weeks when we do this subnet summit. Um, also we're launching full stock, uh, an NFT marketplace for AI creators. So you can create a N F T from any generative AI, art or media, and you get 10% royalties and, and it's standardizes commercial IP licensing. So that's launching in, in about two weeks as well. And I'm gonna assume that Nathan's closing remarks were absolutely riveting and, uh, uh, and earth shattering. Um, thank you so much for those remarks, Nathan. Uh, Alex, do you have any closing remarks for the people? Uh, I just wanna say this was an awesome time. I was taking notes and tweeting about'em, and truthfully, sometimes these quarterly reviews are most impactful cuz you remember how far you've actually come. And, uh, honestly, it's, it's really cool av it seems like Avalanche is building a lot of the infrastructure and setting up a lot of the BD partnerships to really grow at scale, uh, kind of for like hypergrowth here in the future. So, it's an exciting time and, and, and looking forward to Q2 review. All right, and audio is rugged for both of my co-hosts, but I am sure Alex said something really riveting and amazing and beautiful and poetic and, um, really, really appreciate him for his remarks. My closing remarks are, um, y'all already know, man, I work for Gogo Pool Go Pools, the decentralized liquid staking protocol with a specific vision of expanding the subnet economy. And make sure you check out our booth at Avalanche Summit. We will for sure be there. So make sure you check out our booth. We're gonna be doing a bunch of fun things there, and I'm gonna have like a few events and everything like that. So make sure you check in with me and I can go ahead, get you a flyer summit so we can have some fun together. Um, for everyone out there, my, my beautiful, my lovely audience. I wanna say thank y'all so much for coming to the AVAs Quality Review. This was absolutely amazing. Um, we had a whole. Bunch of partnerships, innovations that came out in q1. If anybody, Jess, is popping into the space, make sure you listen from the beginning so that you can get all that alpha that was just dropped. Because trust me, there was a lot. So anyway, my friends, it has been an absolute pleasure. It is Wednesday. It is hump day, but y'all make sure y'all get over that hump and y'all make sure that y'all enter the rest of the day with love. And y'all already know. I'm gonna say my usual statement one is weekly every Wednesday at 3:00 PM e s t. Also. Again, thank you Parker. Thank you to my co-host. Appreciate y'all so much. But again, weekly Wednesdays, 3:00 PM e s t, and you don't have to go home, but you gotta get up outta here, y'all. Peace.