Recapping What Happened on AVAX in Q2 With Ava Labs

GoGoPool, Landslide + Savvy Defi talked to Ava Labs about what happened on Avalanche in Q2....a lot happened.

Social Links:
GoGoPool Twitter: https://twitter.com/GoGoPool_
Savvy DeFi Twitter: https://twitter.com/SavvyDeFi
Landslide Twitter: https://twitter.com/CosmosAVAX

Transcript

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Welcome everyone to the Avalanche Q two review. I am one of your lovely hosts. My name is Revy. I do growth things for Gogo Pool. Gross things, grow things. I grow things for Gogo Pool. They, and if you don't know what Gogo Pool is, we're a permissionless liquid staking protocol with the specific vision of expanding the subnet economy. I am joined here by my lovely co-host. We have Nathan Windsor of landslides say, what's up my friend? Good day. It's probably nothing. Good day. Good day. I also have Alex Lumley of Savvy Defi say, what's up my friend? I. Hearts in the building. Hearts in the building. Let's go. And there's hearts all over the world tonight. Let's go. And for those of you who don't know what landslide is, landslide is bringing the cosmos to avalanche baby. And then if you don't know what Savvy Defi is, that's non liquidating lines of credit, you really, really need to know about them. My friends and I am also joined here by a bevy of speakers, a huge, huge panel of tastemakers in the avalanche industry here. I'm gonna go over everybody really quick. So first off, we got my friend Oz Mine, Val's Developer Relations. Say, what's up my friend? What's up? What's up everybody? Hey, hey, hey man. Glad to have you. We also have Parker here with Val's Gaming bd say, what's up my friend? What's up, my friend? I love it. I love it. Um, we also got Austin Barrick here, coin Fund Partner. Say, what's up my friend? Hey everyone. Glad to have you. Glad to have you. All right, so we're gonna get this thing started. Everyone just going to go over the agenda. First thing we're gonna do here, we're gonna get the VC perspective. We're gonna talk a little bit about some of the emerging industries that we saw and come out in Q two on Avalanche. Then after that, we're gonna go over some avalanche innovations, things like Ava Cloud, evergreen Subnets, and SSK Planet. After that, we're gonna head on over to gaming, talk about Beam and Gonz, and then we'll round everything off by talking about that MasterCard partnership. But first things first. Now turn on my attention to you, Austin. Could you just kind of give us what did you, what did you see in, uh, in, in on AVAC and Q two as far as emerging industries that, uh, that you came out? What sectors were you seeing? Yeah, so I'm seeing a couple things. Uh, on, on one front, the, on the real world asset or, you know, on chain or off-chain asset front. Uh, seeing a lot of interesting things happening there, particularly Avalanche Vista and the program to allocate 50 million from the VAC Foundation to buy, uh, off chain assets that are tokenized on Avalanche. Seeing a lot of attention in this area just across the blockchain ecosystem. So things like tokenizing US treasuries and, and built and bringing yield bearing assets on chain and then going further down the curve and, you know, having treasuries be a wedge to bring all sorts of other assets on chain. And, you know, avalanche has, has definitely been an innovator here. Uh, a lot on the structured finance side. Uh, so seeing things like volts and struct and, and other sorts of defi primitives emerging, uh, which have been pretty exciting. And then also FX markets. So, you know, a, a lot of interesting things on, uh, on the FX side where if you look at Euros, stable coins, G p y, stable coins, and you know, it's an inevitability that FX markets move on change just based on the global connectivity and efficiency that it provides. And, and Avalanche has definitely been, um, you know, leading the, the charge moving in that direction. And then, yeah, I guess the, the last bit is we're, you know, we're investors in go-go pool, so we're really bullish liquid staking and, and we've, um, you know, we, we've made investments in, in that area. And seeing balancer in the work that they're doing, uh, enabling liquid staking, uh, and, and kind of turbocharging it with their deployment on avalanche. Uh, and, and just the attention broadly that liquid staking Hass been getting, uh, has been really exciting. So those, those are some of the top areas that, that we've been watching. Um, but yeah, a lot of stuff happening a lot of different ways. I can, I can take that Austin, but real quick, I, can you talk a little bit about what FX markets are? Yeah. So FX markets are, are just thinking about different, uh, fiat currencies, whether it's dollars, yen, euro pounds, uh, and this is a$7 trillion market. So it's in, in daily volume and it's.$30 trillion in, um, annual flows, uh, be between, uh, that, that involve an FX component. So these are really, really thoughtful markets. It doesn't get bigger than fx. Um, and, and we haven't seen a lot of growth beyond, uh, U S D on chain. And, and I think that's poised to change. So in, in recent months, we've seen Euro stables come on chain. There's been a lot of push around, uh, Japanese Yen stables, which is a major trading pair, uh, Brazilian al. Um, and you know, I I, I think if you're following the Avalanche community closely there, there's definitely been a push calling, you know, avalanche, the, the FX chain. Uh, but a lot of things can happen, um, in pretty unique ways when you take other assets and combine them with the composability of defi, but then start to bring in. So more real world use cases, whether it's, you know, unchained payments for, um, managing supply chains or just speculation, um, in FX markets. It, it's one of the most actively traded markets and, and there's no reason that, you know, that that shouldn't be brought on chain to be able to interoperate with some of the, the new financial primitives that, that Defi has, has brought on. Um, yeah, so, so that, that's kind of what we're seeing. Very, very early innings. Um, but, but bullish on that segment. Wow, that's, I mean, you said 30 trillion in, in, um, in, in, in yearly volume. That's absolutely, so it's, it's 30 trillion actually in, in global trade. Um, and 7 trillion just in daily volume. So that, that includes swaps beyond just, um, trading. So this is people hedging, uh, speculation, um, and payments and, and other flows. Uh, but yeah, it doesn't get bigger than fx. Yeah, that's huge. I can trillion in daily volume, man. I, I can't wait to see something like that, you know? Come on, come on. Chain. Um, are, are, did you say that there's someone already building that infrastructure already? Currently? So, um, circle has released, um, a Euro stablecoin, and I know a couple other folks have, uh, I believe Trader Joe, um, has released a, a couple markets, um, A m m markets with, um, the Euro stable and the u s d stable, uh, with decent volumes. Um, but yeah, it, it, it's definitely something that's, people are thinking about more this year than I've seen in the past. Uh, but I'm sure there, there's folks on this call that, that can talk to it, uh, in more detail than I can. For sure, for sure. Um, we, we definitely have the, uh, the tokenization queen on the, on the call here. We got Morgan. Um, hello. Hello. Um, we also got Luke. Hey Morgan. We also got Luke as well. Hey, Luke. Hey, how's it going? Oh, everything's going well my friend. Um, thank, thank you both so much for, uh, popping on today. Coop. I had saw your hand went up earlier, man. You got the floor. Yeah. I wanted to comment on the Euro thing. It feels like we're still a little early. I. Um, but people are excited about the idea of being able to transfer into different currencies across the world without having to pay all the crazy fees. Like I saw Will, an Ava Labs employee today is in Rome and he's trying to get euros instead of dollars, and it's costing almost 15%, uh, difference on the, uh, the price of the currency just to use an a T m. Whereas if you could, you know, somehow access your on chain liquidity in this way, it would be a lot cheaper. And so it doesn't feel like it's happening very effectively yet, but, We're building up to it. It's kind of cool. Yeah. One, one thing just to add on that I actually come from a, a payments background before I got into crypto. Uh, I, I think there's definitely a lot of savings to be had by compressing those really large spreads of converting from one currency to another. But the key is something you actually just, um, touched on. You need that last mile connectivity and that last mile for payments where it's great if you can, you know, convert from dollars to euros, but unless you have a way to spend it or unless you have, uh, an off ramp, uh, to withdraw those euros on chain to a place that you can use it off chain, it, it's not that helpful. And, and we need that, that infrastructure is being built. But, but that's a really key part of it as well. Very, very exciting times, my friend. And we, we definitely, so I, I know I, I know I shouted out Morgan earlier and, um, this actually is a great pivot into, into Morgan'cause, uh, I wanna talk a lot about Ava Cloud, my friend. Can you just kind of, for anyone out there, I guess, who is not privy to AVA Cloud, can you kind of give them an overview of it? Honestly, we have Austin here and he was doing a great job of just covering everything. We should just have him review, but yeah, no, happy to, happy to go into, um, into aava cloud. Um, so the, I was, and I was actually going through this is called the Avalanche Q two review. I'm just trying to think back to that. And I feel like there's so much that, that has happened really across like all, all of all of the verticals and, you know, use cases and industries that we focus on. But Aava Cloud was, um, kind of formally launched, uh, and announced a few months ago. Um, and essentially what it is, is an, an infrastructure offering for enterprise institutional and other partners and clients who are choosing to build on subnets. Um, the ultimate goal is really to work with these clients to get them to production as quickly and successfully as possible with subnet. So from a, from a business development standpoint, when we work with, uh, partners, oftentimes we'll say, you know, we can be as much or as little involved as, as they want in terms of, uh, their building, um, on, on avalanche and namely on subnets. Um, more so than not, especially when we're talking to enterprise and institutional partners, the desire at this point is for us to be very involved and to really kind of cultivate a trusted advisor relationship as they not only iterate on their use case, but specifically, um, think about what is the optimal. Um, subnet configuration and customizations that they would need, um, to really be optimized for their particular use case.'cause obviously if you're a gaming company, if you're a financial institution, if you're a government entity or a defi protocol, you're gonna have extremely different considerations, um, for your particular subnet environment. So, um, Ava Labs, uh, will effectively come in, in, in what's called an AVA Studios capacity, um, which is kind of, uh, consulting, uh, service that they use to really hone in on the particular use case with the partner. And then from there, um, really hone in on what are those, um, infrastructure pieces that that particular client might need or want in terms of, um, uh, in terms of their subnet environment, both from a build as well as from a maintenance standpoint. And so Ava Cloud is this kind of collective. Infrastructure offering things like managed validator sets, um, R p C endpoints, block explorers, the things that really kind of come together and form the subnet environment so that the, you know, particular institution or enterprise can really focus on, on the things above that. And on top of that, on top of that blockchain environment around, you know, smart contract deployment and applications. So, um, in that way it's, it's really kind of been the way that we've, you know, solidified, uh, working with a lot of institutions. That said, there's a lot of, um, other infrastructure partners out there, um, that provide comparable, um, solutions, uh, whether comprehensively or pieces of that we always make introductions to as well. Um, but, but at a high level, that's, uh, you know, that's, that's how I kind of describe Bava Cloud. Uh, I mean, I'm, I'm so excited for Aava Cloud, I mean specifically because it's, it's going to bring in a lot of institutions into the web three space. I mean, you guys are probably taking away a huge, huge pain point for them and really just kind of taking on all the kind of the web three aspects and then just allowing them to kind of focus on their specific business aspects or whatever project it is that they're building out. So, um, can't wait for, let's say a year from now when, you know, people have already started to build out with AVID Cloud and they're starting to launch and we kind of get to see, um, the institutional revolution that's kind of building. And Luke, I, I had saw that your hand was raised. You got the floor, my friend. Yeah, thanks. I just wanted to add on like one quick point on AVA Cloud that I thought was super interesting for me. Um, and I read a couple studies on this, that in the past when an enterprise or institution was looking to do something like this, uh, on average, it would cost them upwards of. Uh,$1.5 million and well over a year to actually build out a fully customized blockchain that could do the same as, as a custom subnet off of this AVA Cloud offering that we have now. So if you think about the, the benefits of AVA Cloud and the improvements there, it's, it's easily a 10 x, maybe a hundred x improvement in, in terms of, um, cost efficiency and time to market. So in, in particular, with, um, things like the, some of the Kickstarter programs that we have and, and, you know, ways that we can really make this cost efficient and and affordable for people trying to build subnets, it's a pretty, a pretty stark improvement. And you also get the benefits of not having to build on a private chain that's siloed off and not connected and can never be connected to the broader, uh, public blockchain ecosystem. So with the subnet, you can start out, um, in a more permissioned environment and preserve that optionality to open up over time. If that becomes something that is regulatory, is viable from a regulatory perspective or, um, you know, the use case of the subnet is, is kind of proven out over time. And, you know, on the enterprise side, we've had, uh, the ssk Korea subnet, which launched this, uh, in Q two, which has been a pretty awesome success. Um, SSK is one of the, one of the largest conglomerates in South Korea has 200 plus subsidiaries, including Esk Planet. Um, and Esk Planet is, is, you know, responsible for this dedicated, uh, uptown subnet and have seen well over. A hundred thousand k y c real users within weeks, uh, I believe within the first two weeks of, of actually deploying the subnet. So a pretty interesting success there. And then on like the financial services side, obviously Morgan and I can speak about Spruce and some of the other, um, interesting initiatives that we have particular to, to subnets and evergreen subnets. Yeah. You know, what if, if you don't mind, yeah. Could you dive a little bit more into Spruce and Evergreen subnets? We would love to. Yay. Um, I think, I think we went over this one, one of the previous basis, so I'm sorry if it's getting repetitive, but, um, evergreen subnets, um, are you, could, you could just think about them as subnets, um, kind of tailor made for, uh, institutions. And what I mean by that, it pulls from the capabilities that have always been. They're with subnets, but in a way that makes it relevant for institutions. Um, so from like a templated or out of the box perspective, evergreen subnets include, um, E V M compatibility.'cause most, most institutions right now are most comfortable building on E V M to a permissioned, uh, permissioning on, on multiple fronts. One permissioning in terms of who can actually transact within the subnet as well as permissioning, um, around who can actually deploy smart contracts on the subnet. Um, and then permissioning from a validator standpoint. Um, all, all institutions at this point wanna start in that way. Um, but then also obviously have the optionality to open up their networks to other validators, um, in, in, you know, if and when, uh, the use case allows for if regulations become more conducive. And then finally, um, accustomed gas token, most. Regulated and definitely sell side institutions right now can't hold crypto. And so the custom gas token feature allows them to use any, any gas token they want. Um, some are interested in kind of using, uh, you know, their own institutionally issued stable coins to power the transactions on their network. Others are interested in using a totally kind of valueless token that cannot be transferred outside of the subnet, their subnet environment. Um, that's something that's being done with the Deloitte subnet. Um, and, you know, e e everything in between. So from an evergreen subnet standpoint, we're, we're at the point where institutions are coming to us to say, Hey, we either wanna migrate from our enterprise chain like a Hyperledger R three, um, to a subnet. Or we want to expand to a subnet, or we have this build that we want to deploy on our own evergreen subnet. So, um, like Luke mentioned there, there's a few of these that were, or a handful of these that we're working on right now that will hopefully be made more public, um, in the fall and the months to come. Um, spruce is a subnet testnet that takes all of the things that I mentioned as it relates to evergreen subnets and puts it into, um, a testnet environment to show really, um, the industry, like what, what we mean and when, what could be possible with evergreen subnet. So it has all of those things that I mentioned in terms of the permissioning and privacy and custom gas token. Um, but importantly, why what we're doing with Spruce is, um, allowing institutions to come in in a low barrier to entry, low risk way. Since it's all Testnet, it's all valueless. Test test tokens, but really start testing out like what it feels like to be on chain, to test out different like blue chip defi applications, but in a way that, um, rather than trading crypto allows'em to trade, um, tokenized assets like FX interest rate swaps, um, private market securities, using them to pledge them as collateral, swap them. So on and so forth. And so it, it allows'em to really test out like what we've always been talking about when we talk about Onfi, uh, or, or on chain finance, um, in this, in this low risk way. And then the idea would be to one, kind of compare and contrast what the web two or traditional way of doing things and institutional workflows looks like now versus a comparable process on chain. So for example, using unis SWP to trade fx, like what does that look like? Are there efficiencies? Are there cost savings or aren't there? Um, and then ultimately for any given institution to spin out into a production ready main net model of, of their own or, or a group of their own, um, evergreen subnets, um, you know, from there. So we're not being necessarily prescriptive in terms of saying, you have to come in and you have to test this out. We're being very like, Malleable in terms of what institutions wanna test out and kind of helping to work with them in that context, but have created this kind of controlled environment for them to be able to, um, to, to do that. Prior to, prior to Spruce, what was it like for like, let's say, an institution to let's say, kind of test out, you know, whether or not they'd like to go into web three or not? Well, um, it's, it's funny because, um, we had like an internal meeting once and there was a question that was like, how do you convince banks to use blockchain? And I'm like, I don't because that's not where I focus. And, and, and all that's to say is like a lot of the partners that we work with now, um, have been at this for a number of years, mostly at. Environment, and a lot of them are now doing that. But I think it, it's definitely been over the past year, like a, an educational journey of, of distilling for institutions that avalanche is not just the public permissionless primary network. But really, and I mean, and frankly this, this is ongoing education, but like the network is a network of networks, which can be. Private and permissioned, public and permissionless or iterations in between. Um, and so that's something that as more subnets come to production and demonstrate like the, those different capabilities, I think will really like hit it home with different enterprise and institutions to be like, it's not one or the other, which is historically what the options were. There's, there's options all the way in between. Um, and frankly, I'm really excited to, to increasingly demonstrate that because before it was just a lot of like, and I mean I imagine it'll continue to be, but it's a lot of like multi-hour deep dives and webinars and presentations and reports. And again, that'll continue. But it'll be great to kind of finally point to very concrete examples. I actually really, I actually really, really love the, the way that you guys are kind of going about, um, um, you know, talking to institutions where you're just kind of meeting them exactly where they're at, um, finding out what they're trying to do and then helping them with that. And I think that's kind of like the best way to kind of go about it. So, um, really, really appreciate you, Morgan, and then, and, and you Luke as well. Uh, now I'm gonna switch things up a little bit. Gonna start heading on into the more, uh, more cold based kind of world. And, and for that I'm gonna go ahead and hand everything off to, to Nathan, um, to, to lead this one. You got the floor, my friend. So, um, yeah. Uh, just as a quarterly review about Avalanche c l i, um, just as a a piece of background, our, our work at Landslide is bringing I b C into Avalanche. I B C is, uh, one of the, the, the biggest open source bridges that has the least amount of trust assumptions. Um, and, and, um, what that means is that we we're working sort of daily with the Avalanche c l i. If you are a dev and you need to spin up and test, um, uh, subnet, this is the best tool to do it. Um, you can obviously use an E V M and we're, we're using, um, web assembly, so we're on the Wasm side in, in, in Cosmos. So it's been super useful for us, uh, to sort of manage all of our packages and, um, and also, uh, like all of our pre-compiled work. Um, so yeah, that, that was a, a really big release that happened, uh, this quarter as well. Um, also we can, uh, do you have, do you want me to dive more into the c l i Bre? What, what would you prefer? So, my, my brain capacity as far as the c l I, like, I, I can't wrap around it. Can you help me? Yeah, yeah, yeah. So if in, in the when, uh, so we run a a a Go-go pool, uh, mini pool, and when, you know, when there are other subnets that wanna spin up with Go-Go pool, they need to test and run their assumptions and run their network locally. And the way they do that is, is with the, uh, C L I. So that's how they, they start their network. Uh, it, it's how they create, um, it's how they bootstrap it. It's how they create snapshots. It's like their first genesis file that they plant in the ground. Um, so yeah, that's with, with without it, we, we wouldn't be able, like Ava Cloud wouldn't be able to run. Um, and you wouldn't be able to like really manage any of your, your deployment. Got you, got you. So it's, it's kind of like a, it's a, it's a testing environment for in integrations. Yes, sir. Let's go. And actually I gotta, and now punting over to Uzman. Is, is this the sort of thing that you guys talk about, like, let's say with the Avalanche Academy? Yeah, sure. So I'll just, uh, say that shout out to, uh, Connor Daley and team. They, they run the C l I and, uh, they do a lot of amazing work, so great to hear that it's being recognized. Um, but yeah, the c l i, it is just, it's how you can just, uh, launch subnets, right, uh, straight from your command line interface. And it's essentially evolved in anything involving subnets. So if you're launching a subnet, you touch the c l I in one way or the other. Um, so. Definitely we use it in the academy. Definitely it's, uh, involved in every subnet developer's journey one way or the other. Can you talk a little bit more about the academy? Yeah, a hundred percent. So, um, in the past couple months, uh, the developer relations team, uh, you know, has kind of ramped up and we've been focused on a lot of really cool key initiatives. Uh, one of the key initiatives coming out of the team, uh, is Avalanche Academy. So Martin Erhart and Rodrigo, uh, who's our intern from our team, have been leading this initiative and I. It's essentially, um, you know, we've discussed it a few times. We've hinted at a few times, but it's essentially a full developer accreditation program where you can kind of go from A to Z uh, ideally on all things from what is a blockchain all the way to what is avalanche into becoming a certified, you know, pre-compiled slash VM developer. Right. And so, uh, currently we have few courses live already. Uh, you can kind of go and check them out. The Avalanche Fundamentals course is live. Um, then we have one on subnets, and then we have one that's a little bit more developer focused on, uh, pre compiles where you can actually go ahead and play around with the Preco compiles. And I'll say one of the coolest things that this is doing is that for developers, um, Obviously this provides'em an entry point into Avalanche. And we've been kind of sending this to different levels of people who, uh, we've been meeting, I know a lot of folks around the team have been utilizing it to, um, because it's, it's really beginner friendly and it's also, uh, you know, advanced developer friendly as well. Uh, but one thing we've seen is, uh, is a lot of feedback has come about just the subnet deployment process. Uh, how there could be certain things where folks, new developers drop off when they're deploying a subnet, uh, what even draws them to the process. And there's been a lot of really awesome feedback that's come out of just the initial stages of the academy and it's not even live yet. Um, and that's led to the creation of tools like a dev container, right, where it's literally a one click setup to launch a subnet, right? Where, uh, if you guys are devs in this, shed like launching Avalanche Network Runner, an instance of avalanche. Avalanche go, um, all at once, and it's all just in your local developer environment where you don't have to worry about, you know, doing all the little, uh, things. It's, it's really beneficial. So these small like developer tools that are coming outta the academy as well are really great. Um, and we're just using it as a funnel now during hackathons and, uh, just other developer experiences we've been curating. So, um, yeah, a lot of stuff happening on that front. I am really, really happy that you talked to him about that. It was mine because, um, I actually have one of my family members, he, he's learned how to code and I was telling him that, you know, he should look into learning how to, you know, dev, um, you know, do solidity and do kind of web three dev because, um, you know, I just, in that specific area, uh, You know, there's a lot of innovation happening and, you know, he'd be able to, you know, come into a community where like they're actually, you know, doing some things. And, um, so I, I gotta ask you, uh, for, for him specifically,'cause he learning Java and things like that. Like even him, like he can come into Avalanche Academy and then kind of get, uh, accredited and everything and where he's at. Yeah, totally. That's like the, that's the end goal vision right now. It's, uh, definitely it's still in the beta stage. So a lot of the courses we have are just, um, the preliminary courses. We, uh, if you go to academy.avax.com, you'll be able to kind of see all the courses that we have live today. Um, and a couple ones that we have in the roadmap as well. So there's a whole one just dedicated to sea chain development, so solidity and, um, a lot of content that kind of already exists across different chains. Um, but you'll also see the pre-compiled course, there's gonna be one on the hyper S d K coming out soon. So that one we envision is gonna be really, really beneficial. Um, so ideally, yes, he could just come in, do the fundamentals courses, uh, and then advance over to the development side and then kind of work his way through. Um, and, and we hope to really start distributing that once it's, uh, matures more. That's lovely, man. I, I really love how, you know, avalanche is thinking. See, now you're also thinking on, on the front of onboarding more developers into, into the space. And, and, and really actually again, doing that thing where you're meeting the developers where you're at, you said you can be an advanced developer and come into Avalanche Academy and then also receive a lot of education as well as you can be a beginner and come to Avalanche Academy and then get fully accredited to become a Dev on Avalanche. And I think that's gonna be absolutely huge moving forward. And that is, I'm for sure gonna send, um, send, send my family member a link because yeah, that's gonna be a game changer right there. Um, moving, moving on to a little bit, moving on to kind of gaming to the gaming sector now, uh, I do wanna talk a lot about the gun Zilla subnet. Uh, we got two of my, my favorite gamers in the, in the chat right now. We got park, we got coop. Um, I, I'll, I'll throw a slab and meat out there and see who wants to, who wants to grab it? Uh, either one of you would like to talk about Gunilla games. I'll take it. Yeah. Gunilla is really exciting, I think, because they're going to show how a subnet can make a, an amazing user experience that web two people are interested in. And like, that has been such a huge topic over the past years. How do you make an experience that Web two people will actually enjoy? Because in gaming, Uh, it's not, it's not like defi or institutional finance where there's the, even just a handful of users with a ton of money, you know, makes sense for a market and it makes it a valuable market in gaming, we do really need a lot of players and to get a lot of players, we have to go towards web two and not scare them away. So what Gonz is doing is everything focused on that regular gaming experience, but it's just all built with a backend of blockchain. Uh, we're just really excited to see how, how it goes and, uh, I think in the next two months we're gonna see them do a closed test with some huge web two streamers and start to get a taste for how they accept it. For anyone out there who might not be like, privy to Godzilla, can you just kind of give'em just a quick overview like of the game mechanics. Yes, I think it's an extraction shooter. So you, you drop into a world, you collect some resources and try to get out and, and you know, with every game these days, like skins are a big part of the experience. You're collecting, you're getting new pieces that look cool. And in gunilla you actually, you're like almost like a cyborg. And so you might collect parts of a body that you can, um, oh, it's, Parker just said it's just a regular battle royale, not a extraction shooter. I was thinking of shrapnel, but, um, the, the cyborg thing is still real. Um, basically like this, uh, post-apocalyptic world sort of, uh, and you maybe like collect an arm that's like robotic kind of thing. Um, and yeah, that, that's really, that's really it. Yo, I wanna just give a, a little, a little shout out to the gaming studio. These guys spend so much time developing the, the, the work. There's a great interview with, um, goon and the, the, the co-founder of the gaming studio. Uh, and they, they build the weapons in re in like real life. They three d print the weapons and then they design them off the three D printed weapon. Yeah. I mean, the storyline is unbelievable. The acting is sick. It's, it's like, it's brilliant. Yes. Neil Blomkamp is involved and if, if you're not familiar, he is just a very famous creative director. Um, and the, the story for it is amazing. They have like incredible videos that go along with it that are outside of the game so far. I'm sure they're also built into the game. In fact, they showed us a preview of some of the in-game story. And, uh, yeah, I was just kind, it's amazing. And, and I, I don't know if you got, I mean the, the rabbit hole's deep here, like, uh, as far as not, you know, n p c non-player, uh, characters go now they are showing like if they're inside of Unreal or uh, in, in some cases and you connect them to an ai, they show like emergent like consciousness behavior as a character, which is wild. Uh, and like, just as like a, just a weird rabbit hole here, as there are more games that come online that are basically AI games, um, we're gonna see a ton of them flourish on, on as avalanche subnets'cause it's way easier to, to scale it. I just put a link to that episode that you mentioned with, uh, Ian and Vlad, their co-founder. Um, that's really, really interesting. I think, uh, we're also just excited about the way they're approaching the business. I mentioned, you know, they're focused on web two. Well, like when it comes to marketing, I think people in our space haven't seen as much of them as they expected. Uh, and that's because of that focus on Web two. And I think they're doing it right when it comes to marketing as well as they've spent a lot of time and effort in marketing to Web Two and less so talking to the, you know, 500 players that exist in Web three. And, you know, some games are kind of doing it in reverse and we're, we're happy that they're taking the time and approach of marketing towards Web two. I actually really, really love that, just'cause we've seen such aversion from the, you know, web two kind of gamers. Into like heading into web three that maybe they do need a little bit more attention, um, from, from companies. I also, I also noticed that, you know, early on when Gameify kind of first started, uh, people use that web three narrative behind their game more so as marketing. Like that was the marketing and um, for the game. Uh, whereas we're seeing with like Gonz with that, um, with that epic kind of movie that they basically put out that they're really taking marketing in a whole d different direction. And just for anyone out there, um, uh, what's the name? Blanc Blanc. Blanc cam out camera. Neil Blanc Kemp, uh, was director of District nine. I don't know if you guys have ever seen it, but like absolutely huge movie. Absolutely loved that movie and it was extremely well done. And you can, you can tell how that. You know that, that kind of movie background, you can tell how that has affected the way that they're marketing for Gunilla. Um, when you see, uh, like basic, again, again, basically a full on movie for the game that they, that they put out. I mean, the trailer made me wanna play the game and I'm not a gamer. See? Exactly. Even the tokenization queen will, will now be called the Gaming Queen soon. Hey, there's to, there's tokenized assets in there too. Ooh, there it is. And they're, and they're not regulated nearly as highly as the F X R. There's also that. There's also that as well. And they're fun. And there's fun. There's, they're fun. No one said fun. Now, I do also wanna talk a little bit about, uh, the beam gaming subnet of, of, uh, of course as well. Um, part I gotta pick on you, my friend. You've been a little quiet. Can you talk a little bit about Beam? Uh, I guess so, man, I, I've been, I've been quiet on the, on the sideline though. It's my, it's my best spot. But, uh, yeah, as far as Beam goes, super excited for them. I think they actually have their, you know, soft developer launch either yesterday or sometime this week, just to really kind of get the subnet up in testing and then, you know, hoping to have them, you know, fully developed and, and live, uh, sometime in October, maybe, uh, a little after that. Not sure if that's Alpha, sorry if anybody is in the Merit Circle team in the audience, but it's out in the open now. Uh, but yeah, the Beam subnet is essentially, you know, founded by the Merit Circle team. They were traditionally or initially a investment gaming guild, if you will call them. A lot of their portfolio companies were coming to them asking them, Hey, what, what chain should we be deploying on? And uh, you know, they, they didn't really have a solid recommendation and they said to themselves, why don't we just simply create our own chain? Um, so we had a lot of conversations with them and ended up really like getting along with them. They're, they're actually a great gaming partner of ours, and so any games that, you know, naturally deploy on the beam subnet or, or deploying on Avalanche. So if you're a game out there, I think there's one thing to really know is that deploying on Beam, you're getting not only the support of, you know, the Merit Circle team, but you're also getting the full business development support of, uh, the Aval Labs team and the marketing side as well. I know Coop has been looped into several conversations with, uh, games pulling on game to help with the co-marketing aspects. Uh, but really the value prop of Beam is, you know, you're getting a full community of the Merit Circle, uh, gaming Guild. And then, and they, they don't like that terminology. Now. They're gaming their Web three gaming Dow now is, that, is, uh, the correct terminology. Excuse me. Um, but yeah, where was I? So their value prop is they offer, you know, N F T marketplace a M M and then, like I said, they're community. So you're, you're really getting kind of that publishing side of things. Not necessarily a full, you know, web two traditional publisher. Uh, but you are getting the value prop of kind of bootstrapping your game with player liquidity in the early days, which is really important because if you don't have early player liquidity in your game, um, you're really, really reliant on your development for NPCs and AI to be able to have, you know, matchmaking systems work properly or else you can't play the game if you don't have people to play against. Um, so I think that's really relevant and, and a, a really valuable, uh, value proposition that they provide. But, um, yeah, that's a lot of talking. I can, I can definitely go on though. I love that. Love, love beam. Love what they're doing. Oh dude. Feel free to go down into a deep rabbit hole. Um, I mean, I gotta ask you, uh, what, you don't gotta go into names, but what types of games have you been seeing, uh, get built on Beam so far? Yeah, I think there's not really a mandate as far as, you know, what games that we, and, and the, the Beam or Merit Circle team are curating to be deployed there. At this point, they're very much in their bootstrapping phase of getting games interested and developed and deployed. And so with that, you know, I think one of the games we're really excited about personally is Trial Extreme. If you can remember back in like the early iPhone days, you, there was just the, uh, kind of two dimensional, uh, screen scroller where you would have a motorcycle and you would be having to kind of go across the, uh, a treacherous like terrain obstacle course without flipping your bike. Um, this one is much more of a modernized version of that, and obviously all the mo motorcycles and in-game aesthetics are, are all NFTs. And then of course there's, um, tournament modes and, and ways to accrue value back to the player by winning, uh, in wager matches and, and stuff of the sorts. Um, that one's I'm really excited about. There's several others. Walker Worlds is another good one. I, I actually coop, do you know like what the actual game genre is for Walker Worlds? I've seen a lot of like hype trailers, but not actually like the game mechanics. Um, but I, I've spoken to their founder and he's a topnotch, topnotch, Ladd. Um, and then, I think we're at the time in the market as well, just me kind of speaking out loud, where a lot of mobile game developers are much more appealing to going to market on the blockchain side of things because f funding and fundraising is really hard for like AAA titles, right? Illa Shrapnel, some other AAA titles were really able to secure early funding during, you know, a, a nicer web three gaming market. And so now I think there's a lot of focus on, on web three mobile gaming. Um, so I would expect a lot of mobile games coming to Beam as well. Kurt. Oh, you got it, Nathan? Yeah. Um, Bri, Bree, you do a great job hosting and sometimes um, someone has to shine the spotlight on you. Do you wanna go over the Q two Gogo pool work? For sure, for sure. Um, so in, in Q two, we launched, oh, let's go. We launched, we went to summit. We had an amazing time at Avalanche Summit. Uh, me personally, it was my first time ever being outside of the States, so my mind got completely blown. And it has influenced me to become a digital nomad, which starts next week, actually. I'm moving to Mexico, everybody. But, uh, so major things happen. Yeah. Moving to Mexico, it's gonna be, it's gonna be super fun. Very, very excited about it. Um, also, of course, the balancer launch was absolutely huge. I wouldn't necessarily say that was Q two, but, uh, you know, it was close enough that we can kind of go over them. Yeah. I wanna stay on Gogo pool here. Okay. So how much, how. Not, because that's how, how many active mini pools are there? Uh, you want the stats? Oh, you want the stats? There's about, uh, there's 55 or so over 50. Uh, active mini pools launched around like 75 or so. Um, about 3 million t v l, all that good stuff. All those, all those stat things. But one of the huge thing I did wanna talk about with the balancer spot was them coming on them because of them launching onto Avalanche. They have created this huge kind of ripple effect that's happening within like the L s D community, and we're for sure being affected by it in the sense that we are now have enough liquidity to do, uh, some defi integrations that we have been waiting to do. Um, so you can expect some extremely fun things to start happening for g g Avac within like Q three, Q four kind of situation. Um, so, uh, very, very, very, very, very excited about what we've been doing. Thank you. Thank you so much for the spotlight, Nathan. Yeah, it's also, uh, uh, to Spotlight Austin's work at Coin Fund, uh, backing, um, go-go pool. And, and, and, you know, one important piece to to, to recognize in our Q two accomplishments is all the things that didn't happen, such as major hacks, major rugs, uh, complete destruction of the ecosystem, a, a wallet, uh, hack. So congratulations on none of those things occurring as a person who has survived the complete destruction of an ecosystem. It is very great that that did not happen in Q two. All that, no, no ransomware, no, no Spearfish on, yeah, nothing. Nothing but hope in the, in the promise of great innovation that's gonna be happening in Q three. So, very excited about it, my friends, and, um, really, really, really, really happy for this huge panel of people. Thank you guys so much for coming on today. Uh, we're coming up at the, at the one hour mark, so I'm gonna open everything up for closing remarks from the panel really quick, and then we'll get, we'll get everyone out of here. Uh, first things first, let me ask, let me ask Austin, you got any closing remarks that you wanna go over really quick? No, no closing remarks. Just it's, it, it definitely feels like we're emerging from the, the bear market and a lot of, there's been a lot of strong teams that are building throughout this cycle, and it's really nice to see them emerging, whether it's in the last quarter or in the next couple quarters. Um, so yeah, very, very exciting time. And, uh, I think the, the rest of 2023 and 2024, uh, there'll be a lot to watch. Thank you so much for that, Austin. Uh, cool. You got any closing remarks for us, my friend? Let's go gamers. Let's go gamers. And then actually, I'm gonna piggyback off of that closing remark and tell everyone if you have not, uh, started a new game of Pokemon recently to start up a new game. Uh, next up, Usman. You got any closing remarks my friend? Yeah. Um, I'll just say, uh, thanks to you guys for hosting this space. You know, always great to see the community, um, engagement. You guys have been hosting these for a really long time, uh, so that definitely does not go unnoticed. Um, one of our most vibrant community members. But I will also say from a technical perspective in the avalanche ecosystem, I would say we're also really approaching an interesting time because I think that now you're starting to really see external developers starting to really understand what Avalanche is as a network. And that's really exciting because as they start to understand, a lot of the tools that we have are also maturing internally. Um, so things like the hyper S D K A W M, all these things are on the way, are already being built and being improved upon. So some really, really interesting teams have emerged even in the very early stages of these developments. That I'm really excited about. So, super interesting times in the avalanche space right now. I think that there's a couple of teams that I'm really excited about specifically that are building with the hypers dk that I wanna shout out, like node kit, um, really, really interesting tech being built on, on, uh, on this side. So, super. Yeah. Can super credit. Can you, can you take some time and, and say how many t p s per second and why that matters? Yeah, so, uh, I'm sure everyone saw the, uh, tweet from Patrick, uh, the other day. I'll go ahead and throw it up here. Essentially, there was a couple of updates to the hyper Ssq K that we're now able to be testing, you know, a hundred K plus or around that number of T P Ss. Um, obviously on a local state machine, uh, sorry, sorry. Before we shut down this entire space over that, what, what, what. Yeah, that's insane, dude. I know you just casually said it because, you know, we on Avalanche, we're just used to like innovative shit happening all the time, but that's insane, dude. Yeah, yeah, a hundred percent. And things like that are allowing teams that are building upon the hyper Ss d k and it's even in its early beta stages, uh, like node kit, uh, to really see some unique capabilities of what they're able to do, uh, that others in the space really can't compete with, uh, just due to them being able to be built on these kinds of rails. So, super exciting stuff. Um, all I'll say is, uh, tune in. You know, we got the couple of hackathons going on right now. You can mess around with the hyper dk, you can mess around with subnets. Um, pinging me if, if you'd like to learn more. Yo, I, I, I, I, I've been following the, you know, FinTech for a little while. There's, there's a small subnet called nasdaq, which approximately has 20,000 t p s a small subnet. This, this is why, this is why I love Nathan Met. You gotta have, you gotta have Nathan on as a, as a host, because he's just a, he is a wild card. Yes, yes, yes. All right, my friends, Uzman. Thank you so much for those remarks, man. Uh, next up park, you got any closing remarks for me, my friend? Um, just be on the lookout. Q four. Um, I mean, I guess Q three as well, but I think Avalanche gaming's gonna have a, a pretty nice moment with some of these games going live and s going live and, yeah, I think it's gonna be fitting with the name Avalanche. We're, we're gonna pretty much take over, so be on the lookout. Thank you so much for that park. And, uh, real quick, long live the queen. Long live. I feel like I'm never gonna escape that. Um, well, while we work with Nasdaq to try to bring them onto a subnet. Um, I echo everything Usman said in terms of just thanking you guys for hosting these on a, you know, continuous and regular basis. I think these are awesome, um, recaps that, um, you know, we, we do and we'll continue to share with our, with our different partners, um, from, from an ecosystem perspective, but we are really gearing up, not just from an institutional standpoint, but really across the board, um, for a really busy fall. So really excited to, um, kind of finally make a lot of things public and known to the community and, and different industries. And so, um, super excited about that. So definitely stay tuned. But again, in the meantime, thank you so much for having us on. Hey, thank, thank you so much, Morgan. I we really appreciate you for popping on as well. And um, Luke, you got any closing remarks, my friend? Not much else. I would just say Q two was my first full quarter at Ava Labs, which was a pretty amazing quarter to look back on and see all of the things that we came out with and accomplished, uh, particularly on the enterprises and institution side with Evergreen Subnets and Ava Cloud. Uh, and we're keeping it going strong into Q three with Avalanche Vista, announcement out the gates and, um, a lot. Yo, I, I really can't wait for Q three. You guys are hyping it up, and I'm, I'm of course gonna be hyping it up the whole time as well, so I, I just can't wait guys. Um, for everything that we're talking about right now to start coming to fruition, um, there's a lot of infrastructure being built out right now that, let's say in Q three, Q four, that we are gonna really start seeing some changes start to happen because of this. And I'm just, ugh, I'm, I'm over the moon, everybody. But anyway, thanks. Thank you everyone for popping on to the Avalanche Q two review. Uh, thank you to kt Uzman Park, Morgan, Luke, Austin Barrick. Appreciate y'all so much for popping on today. Uh, appreciate our lovely crowd out here. I see we got crypto bikers. See we got average Andy, J C R V. Everybody's leaving, but let me get some hearts before y'all leave. Everybody, lemme get hearts before y'all leave. Really appreciate the avalanche ecosystem for popping on today, man, and, and, and getting blessed with all this alpha. Really appreciate y'all again, guys, we do this weekly, every Wednesday at 3:00 PM e s t. Uh, we will be going on a two week break. I will be out of the office for my, my, my digital nomad move to Mexico, but we'll be coming promptly back in September, my friends, and we're gonna be coming back with a bang. So make sure you stay tuned. If you're not following, go-go pool savvy, defi landslide or all the amazing speakers on here. Make sure you tap on their profile picture and hit that follow button. Uh, but yeah, that's it everyone. I'm closing down the space. I'm gonna say my usual statement, which is, you don't gotta go home, but you gotta get upon outta here, y'all peace.