Fireside Chat with Jeff Kirdeikis (Trustswap)

Fox Mining here today is a very special fireside chat with one of my very good friends Jeff Kordakas he's been pretty much going around and doing everything but at the same time he's so knowledgeable and that's one of the conversations I really want to share with you guys so Jeff he is the CEO of TrustSwap and he also is part of the social network Uptrend so that's two amazing projects right there and then and today we're actually gonna just take it easy we're gonna just take it easy chat about everything we feel like and obviously because you know the markets are going a little bit to the red side today we're gonna start with that why not right for sure man yeah well I'll tell you what it's like you know we have such a nice run like we've been climbing from 3,000 and change not that like when we had a big crash from the coronavirus thing it's just been a steady climb since then and now you know we peak near like 12,000 drop down like three percent and I think this is classic crypto mentality whether it's Bitcoin whether it's either whether it's whatever it is people everyone loves to look at those one minute charts and so you see you know like a three percent drop or God forbid a four percent drop you know one day and oh like in one of my Facebook groups this girl she says you know this is the kind of thing that makes me you know fear crypto like it loses all its legitimacy I'm like my lady did you not look at the S&P 500 day like Tesla dropped nine percent it doesn't delegitimize anything I think so and I think this is one of the conditions in crypto right because you know in crypto we get a lot of people right some people who are looking for short-term gains and you know that's been one of the things that people like to play with right you play with alts you look for these short-term gains and it's ridiculously like and for the past few months it was ridiculously easy to make money on crypto right but um let me just close that for a sec I have uh we have uh um telegram but it's not a bad one so anyways um so I think that's a case where people expect quick money but then you know it's not it's not the easiest money in the world I think crypto is one of the places where it's very easy to get burnt as well um I think that's that's the the biggest problem right where like you hear people make a lot of money right and um I'm trying to avoid these stories as well I mean obviously I had a really good run for the past few months I mean I'm ridiculously thankful of everything and all that yield farming stuff I was just right at the right place at the right time and everything just blew up and then you know you you guys you did some really great stuff you got me into like um all the stuff that you're doing even uptrend just blew up right it's one of my 10x's as well this entire season so um that was great crazy but obviously if you tell all these crazy great stories everyone's gonna think it's very easy to make money right so in this channel I was more focusing okay look I have some successes but I also have some massive failures too I'm okay to share both of these with you guys so just just to let you know what it's like to be in this space and obviously today I feel like we're we're in a time when you know everything is just going straight downhill for for a little bit but it's something that's actually very needed in this market because for the longest period of time we just had like utter insanity we just had utter everything floats everything flies right and that's not always a good thing so you know that's that's what's that's kind of the case right now yeah so it seems like you know in your perspective that a lot of the things are dying down like for sure the yield farming like was a big wave a big trend you could throw any any food coin at it and it's going to do fantastic it's going to become a 10 million dollar market cap project overnight which is insane but I mean even now still like you have like Andre he's like backing the meme coin you know yam2 is coming out it's not three three three three three you're you're you're like three three three three three you know bow to the bow to the shit coin yield farmer king Michael Drew no you got you got this is so the ridiculous part of it right go we have one yam2 yam3 you know three four four's coming out soon guys you know that's the that's the crazy insanity part of it and I absolutely think so like um you know these food coins had it easy and it's because people were very greedy and I think the yield farming issue was that um at the start I was very lucky because I got into wifey right that was the first one that was the one that blew up obviously as a farmer I sold too many so like I was like you know I made my yield whatever I made money yeah I just sell it let's de-risk right de-risk everything when did you start getting into that because dude I was there in the first six hours man that was like one percent of the pool at a certain point so you know like so what do you see what do you see for the future for it now because on like other phone conversations that we've had you know you talk about the system the structure how it's like kind of like what you describe it as is like almost like an investment fund which it sounds incredibly like a huge value proposition like get it yes and no yes and no I think the wifey story is very interesting because you know when I first started you know everyone said this is a values coin in fact Andre himself said this is a values coin I'm just going to distribute it you guys have the doubt right and I think there was some very very interesting plays because I told a lot of people about wifey farming because I felt like um you're not buying the coin right you're putting down you're staking down a cryptocurrency and they're mostly stable coins too right and you're getting this wifey for free now a few of my genius friends they they got into it and they made some genius plays as well so one of the genius plays was to stop the issuance of any more wifey so when it first came out right this is the power of the doubt because the coin is meant for the decentralized autonomous organization it's going to it's meant to make decisions on a platform so one of the initial purposes and one of the intentions that some smart people did was like okay if they thought if they want to increase the value of this coin then make it so that there's going to be no more right it's yeah if you're a governance token that's a smart way to do the governance like stop the inflation yeah yeah I'll tell you what like I've you know I feel like inflation serves such a massive purpose especially these days in terms of like staking and yield farms and all these kinds of things because I think what people are really looking at right now is what is my APY rate coming in is this thing going to be able to survive two three six months down the road so that I know I'm not going to get rugged or pulled on and so inflationary coins have so much value there because when you're fixed supply you know there's only so much you can do which is why it's interesting you know how the YFI model has come into play like inflation favors everyone who wants to get involved but um a flick supply favors the whales and the whales selected that right and that's the that's the power of the DAO right so they made a good decision so um just following up on the um the chat so we can't hear Jeff so I'm trying to lower my volume a little bit but Jeff can you increase your volume a little bit um on your side as well let me see if there's any way to increase the volume here as well um because uh we tried to we we tried to fix this so let me let me just double check because like on my side Jeff is on max on the speaker um Jeff just see if you can like you you did okay yeah it should be can you say something Jeff check check check it looks good on my side and I'm unable to do any more okay you cannot do more okay cool I'll just lower my volume so I just lower my volume on my side so hopefully guys um you guys can hear I think you have to turn the volume up a little bit so forgive us for this um yeah like it's a tech day you were saying before the call it was a tough tech day it's it's been a very very tough tech day for me um my normal camera broke down um the cable just died on me so I can't actually get a video feed on my normal camera um you know it's just just one of those days right that's why we're trying to have the both the green screen effect I thought that I'll match your your background so anyways um so uh apologies everyone but I try to um Jeff's up to the max volume I can hear him very well on my side too uh so just forgive us I think it's a tech issue I am okay today is a tech bad day for me like absolutely sounds one one one guy's now saying hearing both loudly here so maybe maybe you fixed it okay excellent so yeah you're checking up the chat as well so yeah just um guys shoot us anything it's a fireside chat you know this is the most casual discussion ever um I think this is like like this is the conversations I love you know it's it's one of those things it's like you know there's no objective we just want to enlighten everyone catch up on some stuff maybe talk a little bit about trust swap as well Jeff is um part of trust swap but you know no pressure on anything right that was the that was uh everything so so I think so yeah go on yeah so we're talking about governance tokens and how YFI was implementing that and one thing that I I did want to chat about with you is the whole like the Uniswap launch for a governance token um and and how potentially absurd this token is like what let me I don't want to put a bias on it just yet um what are you what are your overarching thoughts on this this is good I love this I love having a debate on this because like oh you know yeah we don't always have to agree on everything right like um I think governance like like what I learned from YFI is that like before when I mined YFI I thought this is government this is bullshit right but the matter of fact is um some of my whale friends actually bought up the token and reduced the supply and you know um yeah apologies to everyone apparently they're the ones who actually stopped more YFI um issuance I found that out I got so angry right like oh these are genius plays but you know at the same time I'm like screw you I I sold on my wife expecting that there was going to be more to come out all right so not like um so I think there's a certain amount of value in the vote uh whether or not it is worth that much value is up for the community to decide but the the issue with Uniswap here it's not just the governance right governance is I think it's almost like a like a code word for for interest and distributions I think that's why all of a sudden Uniswap got a lot of power too it's not just because of the governance but the governance can decide how to spend the treasury right that's that's the one million IQ play there so this is why people are and you've seen that as well when Uniswap first launched when uni first launched you saw that price go from two dollars and it just dumped right it kept dumping and dumping and then like I sold when you know I first started and then I started buying some at around two dollar ten two dollar twenty two dollar thirty climbing that way up because I knew there were other whales also buying the same thing there was a lot of accumulation going on there was a ton of accumulation and the first 24 hours was 2.5 billion dollars of volume yeah which if you just say okay let's assume it's half and half split buying and selling that means there was about over a billion dollars of buy pressure onto this uni token which blows my mind like I'll be honest I sold that I sold that bag instantly I'm like I'm like are you kidding me I'm like four billion dollar fully diluted market cap I'm like ship it like get this thing out of here that's insane but I can't I couldn't believe it and I think it speaks so much to like how people just love the the clout or like the energy around something you know what I mean it's like oh it's Uniswap it's got to be a top 30 project and I mean you know I guess you like governance tokens a little bit more than I do well well I think it's just a certain amount of power there so there was a certain amount of like okay what can we do with the treasury what can we do with the profits that Uniswap generates obviously we've seen calculations out there where like people were calculating okay look you know if Uniswap has this many transactions and it grows like this in such a way all of a sudden maybe transaction fees can add up to this much and then you can start distributing and once you start distributing that's worth value right so I think like like it's it's it's highly speculative though right I think that's and that's another key issue here which is like um okay a can Uniswap grow that fast okay maybe maybe all right but a second speculation here is okay what can you do with governance and uh that's the key and that's like that's a whole speculation so this market is extremely speculative and people are so used to speculation that they don't care about it anymore I feel like people are so desensitized to speculation right yeah um and I think even a little bit earlier on like um people were like oh talk about FalconSwap I don't want to throw this out there but something about FalconSwap is that their code's not really released yet or at least when I saw it for the first time it's like okay I saw no code they had this great image but like how do you even analyze such a product without code right you're just analyzing purely on speculation so this is what we're kind of accustomed in this space and I think it's actually quite detrimental overall because when there's so much speculation on foot you know your price can go and maybe some people like that right like I think that some people like that but for for like a more of a hotler mentality which is something I've been in that's like that's hard so I think yes absolutely there's a lot of people speculating on what Uniswap can do in the future and I think there's a lot like hopefulness in there but you know it's it played out the way it played out and thank you for the free tokens you know like that's that's great so exactly yeah Hayden thank you uh but yeah man it's unbelievable like because yeah it's just like a double layered speculation in my book speculation number one can the governance token like allow that shift in financial structure you know they have VCs on board on Uniswap and there's already a financial structure in place so you know VCs they don't want to be giving away that much money they want to hold a tight grasp of that money so okay are they going to be okay to distribute that to the community and then if it passes that hurdle then hurdle number two is okay well now who's going to earn this who's going to earn the rewards is going to be an oligarchy and so I think it's just like this crazy I mean yeah I and there's another rumor too there's another rumor that Binance and all of us Seafi is buying those coins because they actually want to buy up their competitor so they can keep an eye on their competitor too so like that's an interesting rumor too like that um that like a few of my friends are coming out like that that Seafi wants to at least hold some of these tokens so they have some sway in the governance of it so that's that's an interesting thought too may or may not be I'm not I'm that's like a little bit of a speculation for me that would be that would be a crazy play that you know Binance and one of these centralized exchanges buys up the supply and then totally undermined the governance of Uniswap that would be I would I would not be surprised if something like that happened it was unbelievable yeah go for it because it's absolutely the power of a DAO means that it's hard it's coded into the contract that like this this can happen so absolutely that you know um yeah like I don't think Binance or any Seafi will be evil here but at least keeping check on and maybe control what lists on here this will be very interesting I mean I don't know like it could be a very interesting play yeah what do you think about I've been pretty vocal recently about my disdain for centralized exchanges what do you see in the future like you know let's say things like Falcon Swap Unilayer Unitrade um all these layer to uh stake net all these pro like platforms come out that allow for low fee uh peer-to-peer trading on DEXs and let's say then you you know integrate a fiat on-ramp because I think that's really the only value proposition to centralized exchanges with like wire or something like that like decentralized exchanges even have a fighting chance anymore like like leverage like leverage trading but you can build that on a DEX too like what are they gonna what footing do they have I think so but uh there's two sides to coin here right um like I actually really like how DEXs completely changed the gaming landscape right so first of all I think everyone can realize in fact the centralized exchanges realize this the most where all of a sudden they're the business model is at risk right so all of a sudden Binance started listing coins like crazy right like every week just every day boom boom bam bam whatever's new they want to list it so they retain users right there was this actual fear that you know if they don't list it like think about how Uni just got onto Coinbase and on Binance on a day it was launched right that's and that's because of how powerful Uni is right because all of a sudden you know Uni is providing a way for any coin to list any coin to have liquidity and before that there were DEXs but the whole idea of this automated marketing machine is also very novel I think people understand the exchange part but the market making side is just insane because now you can crowdsource your liquidity right this is like this like it's like next level stuff right so I feel like um like all of a sudden you have this additional ability there obviously centralized exchanges they still have some tools so obviously people are complaining that on Uniswap you can barely set up a limit order of any sort like if you really want to trade you go and coin get cold maybe you set an alarm and a boom if it hits that target you run the computer and then you start the trade and if it doesn't work you have to like sand it down again second time cancel that transaction right just there's still a lot of um issues to work out obviously obviously we have other DEXs as well so recently I talked a lot about Serum so that's the on the other front where to stop the FTX is building if you actually use it you can actually see the cross chains with Ethereum so you can wrap ERC20 on Serum and um not on Serum on Solana or so the blockchain so you can wrap it on Solana and then bring it onto Serum to start trading and there you can set limit orders etc it's actually quite powerful so I see that being um pushed very very heavy heavily forward and uh yeah since um centralized exchanges I feel like they already feel the heat which is great um because like before there there are so many shady things going on with centralized exchanges too it's unbelievable man like three trust swap's been listed on you know a handful of exchanges three of which have with with stopped withdrawals withdrawals and like for two months and then everyone's like yo where the withdrawal is happening and they're just kind of like passing the buck on them and then finally like I had to go on my personal twitter and throw shade at these guys and be like yo open up withdrawals and then then it happens within the hour I'm like you guys are pieces of shit like why would you know there's there's maybe like a handful of good centralized exchanges that because I think it's you know for mom or dad to hop on and use Uniswap and connect your wallet pay the you know oh no then you got to go into advanced and put it to a thousand gas and okay that's just to confirm that you want to do the trade and approving the token they can now go here yeah it's it's a thing but and the biggest issue is like I think I think the trust swap phenomena right like you know because the exchanges were involved they didn't have any of coins but they still want to list trust swap anyways right and I think that was the biggest issue that was the shadiness that was going on they were allowing trades for coins that they didn't have right this is why the withdrawals were were stopped right so what happened was that they allowed exchanging so say they just created this swap out of nowhere right they allow users to trade it it's not backed by anything so what happens when people want to withdraw the prices kept going up so eventually that exchange that created this out of thin air has to buy swap from the market because obviously they don't have anything to back it up right so they can't they can't just find it out of nowhere so they they go and they say look okay it's 10x from the time when we created this out of thin air uh it turns out you know we probably should have market bought some but we didn't and now it's 10x already and we don't want to spend this extra money we want to we don't want to lose money but the problem is of course people want to do with the trust so it took a lot of pressure so i mean um they were essentially running a scam right they were they were trading stuff that they didn't have and when users wanted to call their bluff on it when users wanted to say look i want to withdraw i want to take it out of the exchange they're like oh we don't have any actually by the way um but you know so i think you put a lot of pressure on there which is really good i think that's something that's amazing for a project because a lot of times projects they they want to respect these exchanges as well right but this was a clear case where they were just abusing users right they're outright abusing users and saying you know what uh we're not letting you withdraw because you know we don't have any coins in the first place we're going to just like stall you for a month maybe wait for the prices to go down this is like just absolutely just frivolous fraud right so yeah and that's that's exactly what was happening and then there would be like for example you know on regular exchanges let's say swap was trading at a buck on those exchanges be trading at 50 cents so that they would be able to you know accumulate more swap to kind of make up for the deficit in the meantime and then when when withdrawals went online withdrawal fees were like 30 bucks and that was that was before the thousand go away gas fees so it was just like out of control like my mind's just blown and i and for example what there's i guess i probably can't say the name because of ndas and stuff but particular exchanges that we listed on you know a couple months ago you know they charge like 50 000 maybe 100 000 i'm talking to a couple friends now another again charging 300 000 and i'm like sorry where like sure there's a little bit of a bull market but like dial it back a bit guys like have you seen uniswap like i think the biggest thing like the biggest thing is liquidity and like you know we've listed we've listed on bitmax poloniax like a bunch of other larger ones and guess what nobody trades there everyone says they want to trade there but they don't really they just want it because it sounds good and uh we had to like pull front or liquidity from uniswap to put it onto poloniax so that there'd actually be like somewhere a centralized exchange for people to trade it's like man this this whole market is ass backwards right now people need to get familiar with dexes that's insane so so so the story of here is that c5 like there are some exchanges with their heads so stuck in the sand that they want to charge these ridiculous fees and then when no one trades them i go out through a list and you know like you discuss and when no one trades on there then you're like oh they're like oh help increase liquidity right like we're basically doing everything for you like don't you realize that your your your your life like your lifeline is this short right now like that's that's the insanity of it so i feel like like defy has actually changed a lot of that so it immediately impacted the whole c5 business model so no longer can they charge these ridiculous fees no no project in the right mind will pay that anyways and users are starting to trade a lot more units okay minus the fees right my right now the fees are a little bit high like um understatement of the century but you know i think all of a sudden um there's this this huge change and it started affecting c um the the centralized exchanges in crypto first but i can see this going out much further than that right because once you affected the crypto space what about the whole centralized finance space what about global finance what about the stock market right so i feel like there's a lot of hope here where you know right now we're still in beta right now all these decks are still in beta but one thing that's amazing is that we already see that it can be used people love using it second of all lots of users but third of all it's much more transparent you can't do any of the shady stuff right when you do that exchange you actually get the coins right not on a centralized exchange where they can potentially not have any coins backing at all so it completely removes this trust issue and this is something i was telling dima from uh hacking as well right um he was saying oh look he's fight taking the fight against c-fight i mean like centralized exchanges like um telling the world how much shady stuff they do but as a matter of fact is we don't need to do that anymore with decentralized exchanges everything is transparent everything is open and that's just so powerful so i'm i'm a big believer in this i think it will 100 stop all the shadiness that's going on because it is transparent you can see everything on a blockchain and then on top of that i mean the other the other scary thing about c5 was um you know what they do right they take your coins so they not they don't take your coins they take user coins so i mean obviously users deposit the coins on centralized exchanges and then they withdraw that so they take user funds take it to another exchange and just dump it they have a free short right so that's been happening for the past you know 2018 2019 why were coins going down so much in price was because all the centralized exchanges were effectively shorting everything they had on their exchange so it's like that was the crazy part it wasn't just because users were selling the exchanges were selling it on their behalf dumping it and eventually buying it when it's lower and then returning it back to the exchange so like there's so much shady stuff going on so i believe that like this happens in crypto but because it happens crypto crypto you kind of know that happens in real life too just that in real life it's much better hidden like this is the great this is a great thing about crypto right it teaches you everything about life because like crypto is so trans much more transparent and people are so bad at hiding their tracks right but 100 this is not a new behavior this is behavior that happens always in real life so then you can automatically assume that in wall street all these exchanges are shady just that they hide it much better i mean this is why we have all these like billions of dollars of funds stolen from like a credit card company out of nowhere right like how does this stuff happen it's because shady stuff happens all the time all right so so i think just like yesterday it was like there was a massive investigation or un or revealing of billions if not it was even like the trillion dollar range of like banks laundering money it must have been billions for criminal activity it's unbelievable and like these are the people that we trust as the pillars of our like financial institutions and then everyone's like oh bitcoin crypto is for criminals it's like value is for criminals value is for transacting it doesn't matter what you're doing like there's there's always going to be this range there's always going to be scams there's always going to be like good players so it's just such a joke it's well it is and you hear these stories right like billions is absolutely true and you know there's something called an anonymous swift transfer where you don't actually know where the origin of that search for transfer happens from and that's like the golden golden like um standard for money laundering like it happens all the time right now and like like the worst part is that you hear people brag right sometimes you hear people brag in the world and they they're like asking for anonymous swift transfer and the worst part is it happens right and the thing is the banks actually got caught for this this is why the banks off um get fined and you can search this up right you can search how many times these banks get fined get caught red-handed doing criminal activity and then they get excused because well you know we don't want to shut them down because they're the only ones out there right so um you know i have the hong kong background here but like if you just look at everything down there it's all banks right that's like the whole hong kong harbor side they're all banks and you know that that's that's what we're we're fighting for so i i always like to put that into perspective like you know i feel like this is one of the biggest objectives of d5 is not just to tackle down centralized exchanges in crypto but you know tackle down that so if we we can do that then it's like gg right that's what that's what this whole space is worth 100 man yeah i mean i'd love to see kind of like a fight club-esque style montage where all the buildings fall down and then crypto is what we have left and it's only bitcoin and off we go into this new paradigm uh it would be beautiful i just think you know there's always gonna be this coexistence of the two ecosystems and i love the ability to opt out of this traditional system and then even within crypto you can choose to opt out of certain things like there's you know whether you're like you're like oh you know if these are too high okay well then go to another chain like tron is picking up momentum right now which is crazy but it is it's great it is it's great so are you big on the tron right now um yes and no i mean um i did actually use tron for the first time after whole yield farming thing i thought there was a there was a good opportunity there and i was like you know what you know farmers farm yield is yield you know i'll go there it's free free transactions so it is a smoother experience but the problem with tron is you're always playing against the house because justin owns so much of tron and i experienced that firsthand right like i farmed some pearl up and the pearl prices went like holy shit guys it wasn't it was like the biggest red um red uh red and red candle i've ever seen so you know it went from like 5 000 to like 500 or something in a space of like 24 hours and stuff i mean maybe it's not justin's fault maybe it's like the community's fault or whatnot but at the same time you you know that justin owns a lot of tron so basically he can farm a lot too so he can literally control everything like the rumor here is that during the chinese refund right so tron was issued out as a chinese ico and then because ico's became illegal he had to refund everything which meant that he also got his always tron back now if you own 95 of your token supply there's a lot you can do there's plenty you can do uh that's very true what an interesting if that is true in regards to the the pearl dumping that's a that's such a short-sighted move because you know here you have tron and you know the potential able to like dethrone or like at least like take a bite out of eef's pie in terms of like d or you know this whole yield farming defi craze and then you like in my opinion if i was justin or anyone on like the tron exec board i'd be like yo we got to make sure that this thing goes up and stays up because this is our but but but okay so but so but pearl is not officially tron so sun is officially tron so anything with justin's name on it is tron so so you can't really control what it's done on its platform but at the same time you know maybe his generals down there they're doing this and maybe they're short-sighted too so there's there might be some things there um but yeah that's that's my kind of experience with tron it wasn't it wasn't too good but i mean at the same time the usability of it you know okay um before people burn me and you know before people say everything but we we do need something better so um in that respect as well like people gonna hate me but when i transfer usdt now i use tron usdt uh just because it's free i'm like i'm gonna save my five bucks every time it matters okay it matters all right you're doing you're doing like 10 transfers a day that's five bucks it adds up and you're using tron for such a short period of time it's not going to break down right that's unbelievable so anyways that's that's the fun thing so so that is though and also we got binance smart chain coming up as well are you thinking of doing anything for binance smart chain on your side yeah you know we're i mean we're contemplating it with uptrend to be honest because right now for like for example all transactions on uptrend are off chain and then to get it on chain that's a that's a transaction on our side and we don't want to go coinbase throughout and say hey guess what users you guys are paying the fees now which is unbelievable for a billion dollar company to do so yeah we're looking into different options on how we can essentially get people's value into wallets so you know we're we're going to be implementing that chi gas token really soon as one of the options where it like buys the gas cheap and then you burn it when it's more expensive so that'll save money um but yeah there's we're looking into it but kind of passively to be honest we're just kind of going the chi route for right now kind of keeping it simple i mean there's actually two good options for it actually you can either do binance smart chain which is erc20 compatible but if you don't really have much more code and you're just using it as a token per se just go to solana root i guess it depends on how many people want to do it but i think it's it's viable like um at this point of time it's not it's important not to be stubborn and say oh we must use ethereum because i feel like ethereum scaling is going to take a while let's be let's be honest here it's not it's been three months away for the last three years so like realistically speaking you know when are we when is eth2 realistically going to change gas prices right because if two even when it deploys it's going to deploy as phase zero which is primarily a way to generate randomness for developers it's not really a way to stop scaling that comes in phase one and phase one is really scheduled for next year next next year next right next year next year not too fun not too fun okay but that's just realistic right so so a lot of people are asking like okay uh what about falcon swap can i solve it but the problem is falcon swap doesn't have code out that we don't have we don't have to use it so everyone's like so we're speculating and also like the the cheap prices that she is a temporary solution basically you build up all your gas when it's cheap like right now like maybe it's cheap okay look let's build up some gas fees here but it's not a permanent solution it's it's only delaying it's shifting the problem right to some time else so yeah yes it's putting a band-aid on a bad infection is what it's doing it is it is we got a lot of questions from um the community a community was like oh hey we got we got a question from number of things are you guys planning to take questions from yours absolutely absolutely guys um uh we will definitely take it i mean jeff and i are both reading it that's when my eyes are glassing up and down this one from silla jeff is so cute hey oh man oh man you should check him out in the gym he's like we we've been in the gym together yeah but you're the you're the ice box the uh ice plunge sensei i can't i can't touch you on that no man i think you're like oh man we had a really great time i think um we were in bali um and just to fill you guys in we're in bali we're working on the gym i was actually getting fit for once um and there's this ice box plunge where you just dip yourself in ice because that's meant to purge um all the like the it's meant to stimulate your body i think that's probably the best way to put it like it's meant to after you work out it's meant to stimulate you and also being so cold it forces the blood to be circulating so anyways we're trying daring each other to go for our longer periods of time it's kind of crazy um okay so let's answer a few questions everyone's asking about this so jeff what's your thoughts on axion on trustwaf collaboration yeah so first off to set the framework for anyone who's not familiar with axion it's a fork of hex currency so it uses um certificates of deposit which essentially is like you you know you lock in your stake it gives you a a fixed interest rate um the hex system if nobody knows like hex is a monster right now it has like a billion dollar market cap or something and the framework i think is like has a lot to be desired the like richard hart the origin address takes like 80 no 100 of the profits and so what axion does is just like redistribute that back to the community which i think is super cool um and their mainnet's launching in like i think last i heard it was like a week or something so i think i'm really excited to see where that's going because right now the market cap's at like 50 million or something crazy low in comparison um but yeah in terms of trust swap axion collaboration uh nothing to announce just yet we have some ideas brewing um but nothing nothing yet still working on that but i would say if you wait for everyone who's curious wait like 30 days and there'll be there'll be something out in the wild yeah let's focus more like i think we're going to debate endlessly on action i think we've done that before where like we totally disagree on our views there like i feel like you know i'm a value guy right i always like value i don't like certificate what is a certificate of deposit i mean like it's i mean it's it's their fancy way of saying like stake it for a certain period of time and then you get more rewards yeah but it's kind of interesting like i mean that's all that's happening in crypto right now is like stake and apy except with axion you know you're getting it's a variable apy based on how many people are within the pool and then what else is badass is there's like an auction thing so like every day like people can free claim these tokens for free but if they miss out or there's penalties it goes into this auction and people buy that auction at a discount with eith they take that fucking eith and they buy back the axion token so it's a cool idea i won't show it much more than that but like because i mean like well here let me put it this way what do you think is shitty about it i think it's um the value so you see some things with your farming too where it's it enters the same cycle right what's the purpose of this coin well to stake more to get more all right and i feel like um eventually it has to deliver some form of value and i think this is a phase that we're struggling with with yield farming now where there were a lot of projects that just created themselves and said look we're a fork of wifey okay great but do we actually do anything nah it's okay we just want to do the farming thing and those coins are the valueless coins right they just plummet to zero right um you know and the ongoing thing with yield farmers like okay yoda seo if someone wants them they can have them but we're just gonna farm them and just dump it on people right then obviously there were some useful projects that came out of yield farming i mean why feed the first one obviously because andre has so much on his pockets right whether it's creating some form of crypto insurance or the y vaults etc etc that's why the projects were so much right because all of a sudden now we can take profits from um you know an actual business like um a insurance sort of business and then you can take that and give it to the token holders that gives it actual value right so a lot of yield farming projects actually suffered that so you have like maybe hot dog or hot dog was a scam or maybe you know or um you know all these like ones where the developers they just forked a bunch of code copy pasted code launched it and then had no other plan with it and then i think that's the biggest problem because you don't have an actual business or a business model at the end at the end of the day like something like uniswap as much as you want to complain about it uniswap does generate fees every time you send a transaction you can see very clearly that there is a liquidity provider fee right they can there's a fee model there um just like finance or ftx or whatnot they take fees and that fee can be given to people so you have an external way of generating income so i feel like this is the biggest problem with staking for the sake of staking where if you don't have a business model associated with it if you don't have any way to generate external income and you're just distributing your own coins then i think that's that's that's a big problem that's almost creates a big connect type of situation where okay you farm to farm more but at what time does it collapse is the biggest issue yeah no i definitely like appreciate that perspective i think kind of the way that i you know when i was getting into crypto i'm like this is a new financial paradigm is what it feels like to me and you know like if i look at our current financial paradigms we have inflation that's going out to corporations we have bailout packages like just happened in the united states trillions of dollars to corporations to it's just it's like it's disenfranchising the people and the inflation mechanism is is totally out to lunch so i feel like i don't really know of any other systems that distribute inflation in a way where the purchasing power of your dollar if you're interacting like if you interact in this particular system your purchasing power will increase over time i don't really like see that mechanic happening anywhere else so it's it's an interesting thought and i mean like you know i i agree you know because at the beginning i was really harping on the uni swap token so i'm like i don't think it does that much so i'm kind of like being a little bit of a what's the word here that's the word yeah i'm like i'm a hypocrite on myself but um like you look at you just to like play both sides because that's what i like about these chats is like you know it's just like a well-rounded conversation and i'm looking at like coin gecko not at coin market cap at coin gecko and um the uh like the top tokens are are just value tokens you got bitcoin you got litecoin bitcoin satoshi vision bitcoin cash monero it's like these don't do anything else besides hold value in an intelligently designed system so i think that's that's kind of interesting that's just good way and this is actually very key to how me and jeff work we always play the devil's advocate almost all the time and i think that's a way to grow how you think about things right i think that's actually kind of key here in crypto because they're it's so different from um like like you said with the financial paradigm it is different so you got to start thinking for me it's always um i'm always down to earth i'm always like you know what you have to generate some sort of value somehow but i do agree that bitcoin um has no value generation but i think bitcoin has its value by being the first um you know it delivered its value by being by giving us blockchain right uh it was the first one that demonstrated use case now yet again it's like you talk about like big point sv and bitcoin cash and as i don't really touch that doesn't have any sort of value so every time i look at that project um for me it's like okay what is the long-term value what makes it a different from bitcoin because bitcoin is the first one which means that um it has a lot of legitimacy by being the first one there by being the creator right it gave its value already now anyone that tries to copy that you need to copy innovate and be 10 times better so like i would say look monero i would say it has value by being privacy oriented so it actually delivered on crypto note and then now it's actually has quite a lot it's actually added quite a lot of functionality as well with um the addition of bullet proofs to improve how fast transactions transfer so i'm not transparent it reduces the transaction headway so that's that's kind of crazy so i feel like okay look it delivers some sort of value there so that's how i generally look at new coins where i would say look does it deliver value more so you will say okay the action proposition would be to have a different value distribution but then is that enough to justify a new coin you know that's where the debate can can occur so yet again i would say like i would say it's not not enough but then you can argue maybe it is enough maybe that's novel enough to play so i think that's cool um so let's move on a little bit as well because you know trust swap is also launching quite a lot of stuff um it's launching mainnet finally delivering a product because i think a lot of people were like ah trust off has nothing now it has something right which is great yeah sorry yeah everyone was screaming vaporware vaporware like my boys like this has been 60 days since we had the idea like relax a little bit and yeah we launched mainnet on uh monday which is like phase one of our products and services and we already have like a decent amount of uh people projects using the services so we got like the team token locks investor token locks multiple recurring payments single event future payments and uh then i think escrow services is going to be launching within the next uh seven days once we get the audit come back from hacking so it's like it's actually been really cool yeah and then like all these projects are approaching swap right now like this has been the funnest part actually well not the funnest but one of the cool aspects is like there's so many people keen to do airdrops to swap holders which i think has become such a really cool value proposition for people who are holding and staking swaps it's like just hold this token and people literally want to give you free money like that's i don't really know of any other that's because you're so handsome you know like it's because you have you smile and you're like ah we gotta give more to trust token holders right so so okay so so qe and so um trust was really built on this idea that there was this kind of like a little bit of hole in the market where people didn't have the ability to distribute token over time right so i i think one of the best parts of a project and in fact in start starting out i was like oh okay maybe like we'll see what they have but i think the speed at which you moved was actually pretty impressive i think that was the most you know um you immediately build up the trust swap launch patch so like you can launch projects and then obviously the projects and then use trust swap right i think that's such a good way to encourage people to do it because if if you do have that platform there people are you know um loving you as as everyone is right now um you know that that's a great way so i i definitely admire that about the movement which is where you know you uh you pushed along you added value and you gave more value to the community so um you know yeah thanks i appreciate that that means a lot actually and i think it's it's been like really fun to have it evolve um yeah like like you know the launch pad was never the intention from day one nor even like day 20 had we even thought of it but just like all these different softwares that people were suggesting it was like wow all this is coming together you know like team token locks investor token locks um event-based payments i'm like that's everything you'd want well i mean liquidity locks is one thing that we haven't partnered up with yet um but i'm like once you have that you know kind of four plus marketing i guess that's five you're you're set as a project so i'm like yeah like launch pad and that's been like that's been the thing that's been gaining the most traction i think has been the launch pad and the uh the airdrops and i think that's which has been in in one hand like really unfortunate i haven't i wish it was other things like it was like the software and people like yeah software but i mean that's never how it works everyone's more like hey more more money so i mean i mean it caught on a very good time i think um like all of a sudden you know there were uh more projects that needed this but at the same time i mean that's the thing right you you lock them in the system you got them on the launch pad they start using it that's how you get adoption right um and then everyone's happy at the end and i think that that's also another good thing about crypto overall it's like you got to realize and you got to move fast right if people want this you should give it to them there's no reason not to i think that's something that's um that pisses me off about bitcoin maximalism almost to say right uh maximalists will only think in a certain direction and we have these mini wars going on and you know who's more maximalist than the other guy right but at the end of the day um it's about being flexible right and uh i think that's something that's kind of core uh into everything that's d5 right now even that's space not not just being flexible but you know giving people what they want and also help build a community out and that's that's i think that's kind of core all right so let's answer some questions and q a so okay we have some things about um i love this i got this victor lavazzo says i'm sure if box money can just look into axon he'll be amazed massive proposition come on join us one of us i love this i'm like um i see this like with hex all the time too it's like if you just look into it that's right yeah i love it i love it i love the community sometime um okay so um showbobag is this jeff can we get some liquidity into sushi swap so oh man this was like oh this crushed my heart and soul i don't even know if i told you this story no you have not oh man honestly like my heart hurts thinking about it right now you know so because sushi swap had a vote like a week in i didn't i barely even knew what sushi was but someone's like yo this thing sushi swap they're having to vote you should get trust swap in there like yeah it sounds good and uh so we get in and it was like you know they're adding more liquidity pairs to sushi swap like the next four and i was like okay we had like i think it was like six hours left or something so i'm putting into the community and within like i think it was 15 minutes we had 30 percent of what was required to be the number four which would have got us as a liquidity pair on sushi swap and then um but turns out it was only we had a 15 minute window so someone or i had read it wrong and i was like no like i would have just like taken my entire piggy bank and emptied it to that thing to get it done but yeah so i don't even know if you can add new liquidity pairs to sushi swap now i don't think so hey it's you can but it's just whether or not it will be rewarded right so you can sushi swap function the same way as unit swap does so you can oh that's what he's asking yeah but you can add more but i mean obviously if you have an incentive i think if you mine sushi out of it it would be great right so that would be the most optimal situation but i think it's a situation where like like there was a period when i couldn't keep up with anything like that was a crazy part right i couldn't keep up with sushi i couldn't keep up with uh it just so many farms going on at the same time it was just like absolute insanity like there was yfp there's now moon swap there's like gem swap there's now baker swap bakery swap and burger swap on bsc um but i i actually um i would encourage you to look into that like if like if only i just looked into it right if only you just looked into it but um the bridging between um um right now bridging between um uh even not even bridging right um getting assets onto binance smart chain is interesting um i would say that's actually something worth looking into uh bakery swap is basically unit swap for binance marching and uh okay um it just functions pretty much the same and same with bakery swap and burger so burger swap is probably the more legitimate one but anyways regardless there's so much liquidity there and i would say like trading on dsc is just such a better experience uh not to not to piss off all the ethereum guys i mean i know i love ethereum just get me here but like at the same time like i need to start promoting people to move away from ethereum so the congestion gets less right like yeah but i think ethereum is like getting a little bit maximalist just like bitcoin is you know what i mean it's like oh it's like bitcoin or die or it's like oh ethereum or die and it's and i think you know we both agree it's like no that's not really how it should be i think people should be able to you know make choices have selections if you want low fees go there if you know that's what crypto is about is like the ability to choose that's why i'm so excited about it and i think that's part of the spirit of crypto too right like a lot of people are very angry like they're like oh sushi swap it's just a copy paste of uniswap you know it's it's completely worthless but the matter of fact is that uniswap open source for a reason right so you open all your code you let people copy all they want and they can make micro innovations all they want as well and i feel like that's how this space grew so fast in the first place is by that spirit right um there is definitely in it within ethereum there is this a maximum mentality and there's also um more of a frat boy mentality like um there is definitely a sort culture going on within the the core ethereum projects um that they made some good friends early on and we saw i saw this for first hand during ethereum devcon that was the kind of the darker side of it where you know um newer projects that were coming in they might have very very legitimate backgrounds but they weren't very getting they weren't getting accepted in the inner circle i mean everyone in the inner circle made a frick ton of money right whether it's golem or like you know whatever the the ogs right um you know your omgs and your your other guys i mean they have a small tight-knit circle that's great because they you know they fought against the world at that time right you think about ethereum you know how hard they had to fight right to to overcome uh the maximalism right that was going on you know they fought that war their band of brothers they they deserve to be rewarded and deserve to be together but they also need to open up a little bit so there was that feeling of maximalism in that community as well but i hope that gets alleviated over time and i think it's it's not detrimental to talk about other projects because obviously at this time we're all trying to work together and like you know let's push this to the next level let's break those banks down there you know that's that's a key point here fully agreed cool so let's do some q a like we have we've been talking for an hour i think it's great um or it's good that i'm sitting down uh we have 368 people watching so thank you guys for all tuning in today almost 400 people uh listen to us chat a little bit you know if you guys have any cause uh concerns i feel like i feel like probably a lot of people would be concerned about the market right now um let me just take a look at everything like are we going down or up i've been chatting for an hour so i've got to be like i don't have any time constraints either so it's all up to you yeah and a big apologies for having a late start guys so um we kind of miss uh messed up the story i thought i thought he was an est eastern time so i was like oh 10 o'clock that's my time 12 hour difference right and then all of a sudden we realized nope it's um actually a uh 10 hour difference so apologies for that apologies for that um okay let's see we got illegal haircut jeff where do you get your haircut uh you know what for the first time ever i got it cut at a salon uh usually but usually i just go to some like crappy 12 haircut place i mean it's just like so simple you like number three on the sides and a little trim trim on the top nothing nothing fancy that's your secret huh so so was it illegal was it was it was it legal was it illegal where's your where's your hideout place yeah i don't get the reference on that one from that guy but well because a lot of people they can't get haircuts right now right oh that's right yeah i live in canada we're groovy up here man we're like we followed the rules we all put our masks on and now everyone's walking around like it isn't a thing so oh really yeah oh yeah it's gone now well we we all still wear masks inside and stuff but it's like really low-key like i was just out like playing this like game called pickleball which is essentially like mini tennis there was like 60 of us out there and no masks and like all in close quarters if you haven't looked out and looked at pickleball for anybody listening just take a look nice unbelievable man anyway nice yeah that that's weird because like i think a lot in america it's like it's still you can't get haircuts at all so that's why there's a running illegal haircut meme here um on this channel at the very least so um all right uh okay so we got okay the the local vegans is jeff what future trustwav service which hasn't yet launched are you most excited about oh that's a really good question that is a really good question um i mean in the interim the one that i'm really is going to be the escrow services so being able to do deal flow because right now if like someone with millions of dollars wants to be able to transact and buy bitcoin or sell bitcoin you know they have to go through an exchange or use some otc service that's going to charge them one percent like pretty high fees so the escrow services is something i'm incredibly excited for because not only are they going to be able to use that on the trust swap network where they can then just transact um you know instantly or be able to vest the tokens over time so let's say i'm selling or like let's say i'm selling someone like one million dollars worth of swap and they're giving me a million dollars in eath but i'm like listen i only want you to get the million dollars in swap like slowly it's like you can't jump on the market because that's a huge thing and to get that done is like a five to ten percent fee using lawyers um but the thing that i'm the most excited about in that escrow service domain is actually being able to integrate that onto exchanges because exchanges need to do big otc volume as well because you can't just market dump on a lot of these exchanges if you want to move 10 million hundred million dollars takes time so um we've already integrated with month or we're integrating with mandala exchange which uses binance cloud so it has all the liquidity of binance and then we're just going to be able to like kind of copy paste that onto a ton of different exchanges so that one i think is going to give a lot of stake in rewards because stakers are in 80 of the rewards of the fees when they're paid in swap um but then i think to appease everybody i'm the most excited about the launchpad guys we're going to pump out tons of pro we are going to pump out tons of projects there's lots of projects coming and uh yeah the launch pad is going to be fire and it's it's only getting better so i'm super excited about that nice nice i actually want to talk about escrow because a lot of people probably don't realize how powerful escrow is um because i mean obviously when you buy want to buy a huge chunk of a token the natural inclination is to just go to the founders and say look i want to buy this huge amount of token obviously you guys probably have a lot of tokens yourselves let's figure out a deal and a lot of times you can ask for a discount because you know you're buying a huge chunk you're you say you're a supporter but obviously the founders want you to hold for a longer period of time so having a time delay is very important let's say they offer 10 20 discount on the current market price and this is actually quite happens quite a lot there's a lot of otc channels where you can actually get discounts on particular coins if you buy a large quantity right but now it becomes the issue of a trusting the other party and b making sure that they get it over a period of time so they don't just market dump otherwise that's a stupid thing for founders right i say like a founder says oh i'll give you like a 20 discount but then the guy just takes that coin and just market dumps it and you know that's stupid right so you know and that happens a lot more than i think people would realize is that you know projects might be strapped for cash they're so like oh okay sure i'll sell it at 20 discount and then buddy comes in and just slams those like two three however much like whatever amount that is onto the market yeah i think that yeah so it's it's kind of crazy yeah that's gonna be crazy it's all right go for it man or the little time lag is like it's true like half a second it is true that half a second matters a lot so every time like people watch this and they're like oh why are you talking over each other it's so rude you know you guys should respect each other i'm like dude it's like they're like the world is not that small we gotta there's a time delay so it's just it's just like and this is actually not the best worst one i think we've also had like uh you know i've had like time delays of like two seconds before and it's just like so bad yeah those are the monologue interviews because then you just gotta wait for the person to like finish their entire thing and then you do an entire thing yeah those are pain in the ass and then just wait like wait two seconds oh it's not even a discussion but i think okay um uh let's see can i uh we got ripped lanes is can i get a discount on trust swap how much do i need to buy once we get the escrow services up maybe we can start uh we can start doing some of that i'm not i'm not i won't i you know transparently trust swap does do otc deals just like most other crypto companies we have a big dev fund of tokens and the purpose of that is to be able to fund the development of the company so if we're able to offload those tokens because obviously you know let's say we have 15 million tokens which i think it is right now we don't want to sell that on the market to be able to fund it we want to be able to get that into the hands of people who are going to hold it and that's our value and so being able to invest that over time or pay people out using that dev fund you know who are either developers marketers whatever it may be um that's the ideal so yeah once once we have the escrow services up i'm excited to build it to be honest and like we're like to have it fully built and just like this like nice user interface and kind of like a marketplace for otc deals is kind of what i envision which will be really cool it's like hey do you want to get like a 10 discount on this coin like it's available and here are the terms i think i think that's gonna be really cool that's actually powerful because like i mean i was talking to the guys at bounce right so they're also trying to do something for otc and for escrow but i think the the the strategy here is not just to allow the deal to happen but to add the delay to add the vesting to it which is the power the where the power comes in right because um just a secure area for trading okay once the trade happens you know they can do whatever they want with that coin so having um you know that delay there is it's actually rather important that's uh that's to say the least right um okay so let's go for the comments uh we're just gonna do q a you guys can talk about anything you want i mean you know i think that's a great part about this we're all very transparent people i definitely uh respect you for just telling people what's happening there's such a taboo about dev funds right now like like everyone's so freaking out it's like the same thing with the sushi swapping like oh he sold his death fund it's like oh my god calm down people like i mean you could have done that a little bit better but uh i know where you're coming from i mean i mean it's like it's fair game right uh that's the part of crypto i mean it's unpopular opinion but it's fair game once the devs deserve something and you know it's written if it was written in a contract that the dev gets 10 percent and you know they can do whatever they want with their 10 percent right um that's that's the that's the trick right um okay oh go for it no go for it no no i was just gonna read questions but you go for your stuff i'm gonna okay okay well just kind of my final thought on like the sushi swap thing is that i think it's kind of a good point for people to realize that they need to look into what they're signing up for because you know they could be like hey listen there is a vulnerability that we get this many tokens dumped right on our heads and i think people need to start realizing that these risks are real you know like rug pulls aren't the only things that can happen there's a lot of vulnerabilities out there so i mean i would hope that people would get smarter but i know that's not going to happen because we're going to people that do not get smarter no no they think it's less than finance and they just go like oh what is this okay i'll just buy it whatever who cares a sushi it sounds cute okay cool and and i think that's a big problem with the space right um people don't read people like barely read and um you know yeah um it's sad but it's not it's the if you treat it like a giant if you treat giant crypto like a giant casino you're most likely going to lose all your money but if you are wise and you're smart with it i feel like this is one of the most fertile areas of growth period interesting interesting because yeah that's an interesting perspective that might be fun to harp on because you know like there's there's the long-term holds for sure like you know like your eves your bitcoin uh obviously your trust swap that's a blue chip right there um but like for example the way we've talked about this a couple times before but like asymmetric risk reward it's like hey listen like if there's a one in ten chance that i lose all my money um but a nine in ten or let's say it's 50 50 that makes it easier 50 chance i lose all my money 50 chance i go 10x yeah i'm spinning that wheel every time so i mean there might be some validity to kind of treating it like a casino and you just need to be intelligent about yes what the odds are yeah i think absolutely i mean and you know it's it's hindsight it's hindsight is 20 20 but i think a lot of people have ptsd from this because the market never really behaved the way they thought it would especially for newbies right you know they see something launch on binance they say oh you know for sure this is gonna dump because you know it just landed on binance and then they don't buy it and then when it shoots up like this is exactly the story of sushi right let's not binance i think it was three four dollars it just kept moving up moving up moved up to like six seven eight and then they fomo in at like 10 right and maybe for the first second it went into 11 that's great and then bam this smams them all the way to a dollar and you're like i can imagine this happening to a lot of people right this is like this is like the story of story of crypto right and like that's when you gotta control formal right when when you feel formal that's when you gotta like just back yourself in the face like fuck you fuck you you're like slap yourself and just like think clearly about what's going on like and i this almost happened for me for uni right because i saw uni prices just going up and up and up and like okay i'm thankful i'm holding some because i have a long position right but then like do i buy more and i just had to slap myself like oh no i can't buy more no i can't buy more no like don't fomo eight dollars no no don't do that do not do that because like you know at eight eight dollars everyone's like just shouting like fifty dollars you know like a hundred dollars and you're just like no no no you gotta slap yourself into shape so i feel like that's that's like the core right you gotta understand the core where it's like you actually have to you know buy low sell high and you know and it goes back to the story i mean we've been talking about you know uptrend for some time as well right um you know you've been building that out for ages i mean i know you've been working your ass off and so i was like okay look i'll buy some and have this stuff and it turned out to be one of the greatest successes of this run right but when we were talking about uptrend no one wanted to hear about it because it wasn't pumping right but ironically that was the best time to buy right that's the heart that's the harsh reality of it like um you know sometimes it's not about doing what's popular right you know everyone's talking about falcon swap now great thanks um that's good but at the same time you know if everyone is talking about it is that the right time to buy it not financial advice of course by the way but you know just but but that time when trust swap was low like why not why not have some exposure there's so many users on it there's so many people on it like like like the only place i i really post my videos now is like on uptrend right because there's people who are there who respond and there's a community there why not right and that's no brainer so anyways 100 man 100 i think that's it it's like the price go up that means the project is doing good price go down means project is doing bad you know whether it's like uptrend or trust swap or like library a platform that i really like it's talking about like you know decentralized media they just went from like 30 or 40 million dollar market cap down to like seven and then i'm like looking in their chats and everyone's like oh libraries that i'm like my dudes like library has like millions of users every month like this thing is legit but just that mentality of like everyone watching the line to indicate project strength is the is to me the most batshit crazy thing that people can do like you can watch the announcement channel what are people building what are people doing what are the key metrics anyways i know you know that stuff but it's hard it's so hard it grinds my gears man yeah it's so hard and i think it's so easy for people to say stuff like this and like um like that now today we have a day when everything is in the red right i think everyone's gonna think oh my god crypto scam it's all over i mean um i i'm just gonna pull this over um and uh let me just very very quickly show you guys uh what up but jeff will jeff's face will be covered so sorry jeff but um you know if you if you if you store it by like 20 last 24 hours you'll see oh uniswap it went down by 18 percent elron is down 17 percent quant down 17 percent neo down 16 sushi down 16 percent like it feels like the world's coming to an end right like you see all that you're like oh my god it's coming to an end but you know does that really reflect what's going on over a project i feel like this is definitely doesn't reflect everything that's happening with all the projects i think that's definitely it's true some whales might be taking profit i think that's the market forces at play and you have to realize that market forces are huge um i've been hearing a lot of people who are very bearish and i could explain why a lot of this is there especially with the early defy investors there's a lot of profit taking right now so that's one of the problems that could be encountering i mean especially something like uma or mta um i got screwed over by mta actually because i thought oh they're probably gonna list them by now soon let me buy a bunch and then so that was my bad trade and i'm okay with sharing bad trades because bad trades happen right like you don't have to always win i mean you get a few good good ones and then you know that's that's the crazy part about crypto right so yeah i definitely think there's an asymmetry that you were talking about there that um you know you have to work with are you investing anything for right now like what are you looking at um i mean that i put money into myself um has been pretty sparse um you as you know thanks thanks to you you hooked me up with linear so um i got into linear so pretty excited about that one i got into xbtc um which i'm super excited about why i know we have some polarizing opinions on that one and in terms of other investments i just posted my bags the other day i have oh yeah nice i forget it gigantic it's a gigantic list of bags no it's pretty slim and honestly what's kind of funny is it's a lot of the projects that um are integrating with trust swap just because i don't like i know what trust swap is doing and then like i kind of have like an idea on like what these projects are doing so like i just buy a bag of them so i'm like i i i foresee really good things within this ecosystem like i i own some falcon swap i own some unilayer i own some unitrade um even like meridian network i own some of that um like my biggest bag is axion um and so i'm for sure missing a ton but uh yeah that's what i have in the bag right obviously bitcoin's in there too but yeah yeah bitcoin are you are you wrapping your bitcoin are are you renting bitcoin are you just bitcoin i'm just straight bitcoin man just like yeah i just have it it's a crime not to have bitcoin it is a crime but i got so tempted i'm like fuck i need to move that over to defi and start yield farming with it so oh yeah you're you're the you're the farm king you're you got your man you're you should have your profile picture with like wearing those overalls i know you made a like a you had a youtube clip like a cover photo and i think you're wearing overalls in it man i that i think that needs to change because that was a golden photo and you were crushing it man that was great as much anymore not as much not as much um like recently the rewards are not as great anymore so like i just took the opportunity i said you know what i'm gonna take a break like now is the time to take a break because like before right um if you think about this way right now most of the safer farms are like say 40 to 60 percent apy right and that's much lower now than before before back in the day right you'll get like 400 and the difference between 400 and a thousand is 600 right so before the variation was much bigger but now it's like the variation is like 40 to 60 right so like maybe like this on this platform it's like 40 percent apy and another platform is 60 so what okay whoopee and another platform maybe you get like 20 and then you have a boost like swerve you have a boost for 2.5x on a boost on the 20 so that's like what okay 20 times 40 um sorry 1.2 sorry 2.5 times 40 so that's around 50 something right so you get some 50 x rewards but it's still small right but back in the day because the variation was so huge you're having a variation between 500 versus a thousand two hundred percent versus two thousand percent like you have this insanity going on and they were more sustainable so moving farms every day made sense it made sense to invest that time into it right but now because the differences are so small i'm like okay now it's still money all right it's still money i'm i still know people who are moving it between like improving their yields from 40 to 80 percent it's still something right it's doubling your yield but it was nowhere near as pronounced as before so i'm just taking a small break right now i'm like you know what i'm gonna show a little bit um you know that's the case um i have a comment here so i will do a bit more comments let's do like say five ten minutes of q a but i think this one is a sad story it says smarts kill wrestling says at box mining i still believe send fsw so this is the falcon swap token to swap smart contract address please ask jeff i can if i can get them back please i think like all the we've had a bunch of tokens sent to our to our smart contract address and it's almost becoming like a i i joke it's not a revenue stream but it feels like it because there's a ton of tokens in there i know there's some like we use open zeppelin i'm not a developer so i'm just speaking out of my ass here i know we use open zeppelin which allows for um like malleable contracts so there probably is a way that we can just go in and return to sender i'll chat with adam about that one chat with adam because like a lot of times when you send to the address itself the functionality of what the devs can do is very small uh we've seen we've seen examples where um i think there was actually like twice two examples of this where half a million dollars got sent to the sushi contract and then another half a million dollars got sent to the sushi contract and that's just lost forever that's like you can take it as a burden so i hope not um yeah but the way smart contracts work is that they're they they become living beings after a while so i'll set the expectations there i don't know how you set it up because if it's like it depends on what you can do but obviously get in contact with jeff um jeff is one of the friendliest people i know so you know uh dude um i brought that to your attention so hopefully that can do something cool uh but don't get your hopes up because crypto don't make mistakes and that's what the part the problem of yield farming too like yield farming like when you're late at night man like you still have to double check those addresses because if you miss like miss send like like roasted dead it's dead it's absolutely dead man um okay so let's see okay 40 times no no no darren that cruises us is 40 times 2.5 no it's 20 times 2.5 all right 20 times 2.5 is 50. okay let me just get my make sure my math is right um someone was picking up my maps it was 20 times 2.5 check the rates check the rates okay swerve 20 i can memorize that off my top of my head my math not wrong okay i'm touchy okay i'm touching i'm sensitive i'm sensitive yeah wait someone in hong kong never go after their math skills they will come after you it's like you see this you see this you see this you see this swerve right now it's like 20 it's 20 point okay 25 okay so 25 times 2.5 all right okay cool cool i'm i'm done being i'm done being touchy and sensitive all right um all right so uh uh fall youtube okay so we got um kurinsky says do you guys ever think about doing a youtube live with all youtube advisors and every channel at the same time that's interesting it would be it could be a fun dynamic yeah it could be fun it could be fun it could be not fun who knows right like i know i have a good chemistry of jeff um we hang out a lot sometimes like we we tried like multi multiple youtube things and it's like sometimes it works really well sometimes it does not work very well like you're just trying to talk over each other it's like and it's not even intentional sometimes it's just like you know like the delay you try to respect each other and then it's like you know hard um jeff do you want to pick up some questions as well um um to just wrap the session up yeah yeah let me scroll through here if you see one let me know too i'm just scrolling through yeah it's it's always hard like i think this is something people don't realize it's like reading live chat is actually really hard because there's so much text and i'm dyslexic right now uh it's after one that people are talking about a lot is falcon swap um and they're all like oh what's you know what's the partnership with falcon swap and the answer is always it's never a partnership it's always a software integration and everyone's like oh this guy says the guy who tipped you 100 indian rupees i think it is uh is there a chance of a rug pull with falcon swap they're in a non-team and the answer is always i don't know it's it's always like do your own research like we're a software company and we're integrating software just like ethereum allows any erc20 to be built on top of it and they're not liable for the erc20's actions it's the same with trust swap we just issue software so we're not doing any you could you could assume that we're not doing any due diligence at all there's a chance that we are but assume that we aren't it's so true man it's so true uh you know i like like falcon swap like there's some beta coming up so maybe that's the best time to do it but if you are unsure don't speculate i think that's the key here don't assume people did their dd that's that's the most dangerous part and then you blame other people that's that's like the worst um there was luke skywalker's thoughts on meme do you guys did you guys talk about already um do you have any thoughts on meme i don't even know what it is man all i know is that andre endorsed it do you know about it yeah so so meme is kind of funny it was a it was a joke um like someone was like oh we're launching so many food coins right now so meme was like oh um you can launch like you can select from us um like uh so you select an icon and then you select uh like uh what what sort of contract template you want to use and then you click launch so someone did a screenshot of that right yeah that was one so also meme is the token that like does the issuance of all those food tokens is that how it works no it was a joke and then someone was like oh we should make this a real thing and then someone made a telegram group and they dropped 200 meme to everyone and then like it shot up price right like the price was like 20 right so everyone's like oh so happy we got like 400 right but now meme is like a thousand like all of a sudden it was the biggest pump coin of the last 24 hours right um let me just double check if i'm uh if i'm right on that i think it probably would dump a little bit right now let me just 35 million no no it's actually not it's still pumping it's still pumping it's the only point that's pumping right now so 1.7 oh my god oh my god zoom out to the one year chart man that is out of control just straight up yeah it's it's insane it's something i wouldn't touch right now with a sorry sorry guys like don't buy meme.com yeah man this they're doing nfts right now so i think they're catching on the nft theme meme um but you know i hope they're doing something good um obviously it's been hyped right right now so just be very very careful guys it's uh it's the way crypto works right you know it might be cool i mean obviously the dev is smart but yeah they're doing nft farming like all of a sudden nfts are coming like this is kind of cool like like here's a question coming in on the chat um trust that's i don't know i'm sure a lot of trust swap people are watching so i wouldn't mind answering it um i don't want to turn into a trust swap q a though but is trust swap team picking the time and launch of the launch pad or is it solely the choice of the launching projects so anything that has to do with projects whether it's swap drops launch pad projects that's up to them we're only going to do two launch pad projects a month maximum the rest we're going to ship off to unilayer um where 2.5 of the raise gets used to buy back swap tokens like purchase power on the open market um but uh yeah it's always up to the project so we're just we just wait and uh mobi pay should still be within the month of september nice nice nice nice that's good i think i think um right now it's uh it's definitely smart not to rush on everything i think it's um it's like the the market's taking a little bit break which is much needed um a much much needed break right now so i think that's overall good and we want to grow in a positive direction for sure i know this is like the most meaningless words but sorry go on what are in in these in these times as you so eloquently talk about what are michael's five biggest bags besides besides bitcoin well i mean add bitcoin in there but then say oh okay so so i did a medium bags video so like the way i structure everything is like i have the hodl which is like bitcoin ethereum ve chain and some other coins where i feel like okay look long term it's really worth hodling and then i have medium bags which is like um you know trust swap we got swiss borg you trust um binance coin that's a swap i definitely said trust swap ready um what was the other one there was some fedex as well adding um onto that as well i got my linear lena um got a bunch of other crap um i think still like even crap like um uni i think uh as much as we disagree i still hold some um and these coins and and it adds up like i have like a 50 something odd coins and i did the video on that i think that was very well received and i think like those are my medium bags which is like um i want to hold but at the same time i'm looking for some price movement too so i can take some profit off that right so bnb did very well it moved from 12 um from not 12 from 18 to around 32 so i managed to take some profit off that one engine and engines up there too sorry i forgot about engine engine didn't do so well uh i think it's still stuck in the kind of like um dropped a little bit with the entire market and same with synthetics as well it's one of those things i would take a little bit of time to get working but that was kind of my strategy then of course i have the highly speculative bag where it's just like buying whatever trash possible on the market not to be offensive right that's just uh i find it funny i i always say it's the asymmetric risk reward bag right there yeah it's your asymmetric asymmetric yeah but i i mean i say everything is crap affectionately i think that's something that's that that i always say you know like um you know in this space it's so speculative and i take it as a speculative investment um you know that's the way it is i have some chain games i think chain games is great um you know in terms of doing um a lot of the gaming stuff and in terms of development and this is something i actually spoke to jeff about you know um they're not just a two-man team okay a lot of people confused um they're confused when looking at the the the the web page and they say oh there's a the team is so small it's actually quite a big team and um they actually have quite a lot of stuff already developed so i'm actually quite excited to play some games hopefully we can play some of the chain games uh mario kart although i'm horrific at mario kart um yeah they're coming with a first person shooter pretty soon so that one will be fun nice nice you should do um you know what they should do they should do um fog eyes fog eyes is great ah okay it's like a well regard you know what it is right do you know what it is let's see okay okay okay fog guys is 60 people all at once and they're participating in a running game so like there's obviously a whole obstacle course with 60 people at the same time yeah it's it's amazing i think i told you about this one yeah we had a phone call about this one yeah yeah yeah no the idea is awesome man i love that concept that one's super cool that might be cool right you enter in with like a one dollar thing and then you run you run against 60 people and then you end up making money because at the end you probably went 500 bucks or something right because magic of crypto but you know every hurdle you jump you you yield farm another token that's the concept that is a concept but i mean like i think that's cool um have you have you okay let's let's summarize a little bit um polka dot as well i think i've been looking at polka dot a lot recently um i think like that's the kind of the next next wave um so polka dot storage space nfts are are kind of hot right now like super hot so you know that's my two cents um let me see what else i got i got hacking got some hacking tokens right there i think you know they're they're a team that actually delivers i mean you guys use hacking right they're great man they they turn around audits super fast like really good and i think they were so unfortunate it's one of those most unfortunate teams because like they're eastern european right so they're based in ukraine and you know going to ukraine changed my mind and how i should look at things because like people are so nice there i thought like before going to ukraine i was like oh shit is it full of mobsters am i gonna get killed uh what's gonna happen right like beat you to death with pierogies yeah and then like you watch you you watch like um tenant i'm not sure if you watch tenant but all the bad guys are eastern european right it's just like it's like it's something part of this culture where eastern europeans are always the bad guys right like they have this like accident yuri yuri will deal with you and then the other guy punched yuri or something like that like that yuri is huge and and then yuri is like oh no no feel right and then there's like but um yeah but you go there and you just see like some of the smartest people um out there um some of the hackers they have are just like whoa like this is just like it's insane so and you know with labor being so much cheaper over there i think it's like they they have a they have insane plays that they need to do in this place so um that's my two cents i think that really changed me like you can't be racist like that like like like box don't be racist and you know that's what i'm telling everyone else uh what else am i holding what coins um earths eight hour foundation um i'm holding that now uh that's good uh nfts yet again so engine earths wax um down down there there looking at all those um smart nft and all that stuff um yeah lots of stuff i think i have like 50 something coins which is crazy so almost as many coins as you have uh yield yield farming portals open probably hey man i was telling jeff a little bit earlier so i just want to wrap this up a little bit because i think it's we've been on for one and a half hours already but yeah um yeah it's like i have like um so many yield farms open i take screenshots of them right so when i um i just start clearing some up today and it's just such a pain like i'm just like i'm like a squirrel that has money everywhere um like it's like it's such a it's such a first world farming problem but like it is a problem where like you farm we forget where it is oh i have money in gems i gotta search it up and then you don't want to lose any of that right and we've got someone saying player michael yes player is there too but yeah um you know that's that's my two cents all right so should we wrap this session up sure man yeah i think as always that's a fun chat like it's just always a good time it's always a good time um definitely jeff is very confident um uh let's see uh uh yes swap so i think a lot of people you know like they i think something that i want to say just ending with this and i think that's something that's really good about jeff is he's very open up about everything and he moves at such a fast speed and i think that's the energy we need in this space um so i think i'm very appreciative of learning a lot from jeff as well like all this time um not just like as um like a pure working out energy guy like i think like we've been in the gym together like this guy's such inspiration to have some guy who is so hard working but also hard working in the crypto space as well like just being able to deliver on so many products so quickly um i think people don't understand how much um crypto takes a toll on you when like everything wants to move so fast you're giving out you know uh 16 hour 20 hour days consistently for months on end and i think jeff's been delivering consistently too so i definitely say like in this space we really appreciate people like that thanks for coming on board um and we hope to do more and i think it's very late for you too right it's starting to get 10 o'clock 20 o'clock um 12 comments so it's all that's midday man it's midday exactly the second push starts now this is actually like when adam comes online the cto of trust swap so like this is kind of like push number two now so yeah it's it's it's a it's a hell of a journey but um oh well i mean it's there's something about like enjoyable but like doing something you love like the phrase is like it could guy like you know it's like when you have like all the aspects of your life like it's like something that you love doing something you can get paid for something the world needs and there's a fourth thing too but it's like right in the center and like for this like trust swap is like one that fits right in the middle and then like another cool word that i like is like meraki that's like actually my favorite word and that means to like put something of yourself into your work which i really like because i'm just like yeah like this is like what i'm doing this is like you know my soul going into the work um so yeah it's fulfilling and i think if it's fulfilling then it just if you know it fuels me up nice man i think that's a great way to end the stream i think you're putting a little bit of yourself into a trust swap and that's that's amazing so guys thank you guys so much for watching thank you for asking questions i hope you answered as many questions as possible um this was the chillest chat ever uh we've got michael leaves jeff going to play starcraft over afterwards i think jeff is going to go on a multiple meetings afterwards um but what we should do man is we should set up like blitz gaming sessions for chain games or like you know like the box box mining channel night on tuesdays everyone like blitzes the chain games that would be a lot of fun i'd love to do something like that absolutely man absolutely so guys hope to catch up more on jeff and then um uh we have lots of questions over more and if you guys want to ask jeff directly some questions etc you know shoot jeff a question i think he's on like multiple like on every telegram like he answers to everything i think like um yeah just find him and um that's it cool guys thank you guys so much for watching like telegram trust swap whatever um there's also facebook yeah check there out i'm not gonna show everything for you guys but cheers man hard for for uh you yeah yeah yeah