YieldNest simplifies ETH staking through liquid restaking

0:01I'm Ashen Addison from the cryptocoin show and today on blockchain interviews we have back with us Amadeo brands of yield Nest here to talk about defi staking raking Ai and much more Amad welcome back to the show thank you ason for having me back it's uh it's been some time and a lot of things have happened and uh I'm really looking forward to this one thank you me

0:25too I think staking is is pretty important to the crypto industry and understanding more about it especially reaking uh igen layer and how all of this stuff really works is important for anybody who's tapped in or they're just holding Bitcoin ethereum any other coins in their wallet without really earning from it um so I'm excited to dive into your expertise today I know you've been

0:47in di since the beginning and it's evolved a lot um but some of the fundamentals have stayed the same I'd love to start off with a little bit on what you and your team have been building at yield nest and then we can dive into all the latest defi topics let's go yeah so yield Nest is a liquid reaking protocol but in a much broader sense of the word right so yness

1:11is all about Capital efficiency we want to make sure that all the assets the max LRT asset always generate the max risk adjusted return to our users and then we do that through uh reaking strategies we do that to defy strategies and we kind of combine Best of Both Worlds where we're always trying to look for the highest yield possible on these like on

1:33our crypto assets right because when you have money or you have productive Capital you can either make it productive or you can just put it away like a Bitcoin and just put it on a ledger right you kind of want your your defi tokens and your assets to kind of do something in the in the defi World get lend it to people that want it long or short put it in liquidity pool making

1:55more things more liquid and better trading experience than centralized exchanges and with restake just like kind of kind of extending the security set so we can expand the possibilities that we can do with this technology right uh yeah and I think yeah y Nast is with the maxt products is it's it's really a new paradigm we I call it these the the the the Apex of capital

2:18efficiency the Apex of yield optimization where you have e Bitcoin stable coin or B&B and then right now B&B and E product are live the Bitcoin and stablecoin product are coming very soon and if you want to get your max risked return on E or B&B right now you can just simply go to our website yness finance and use any of those products and get the max risk adjust Returns on

2:42the base layer and then it's up to you if you want to uh loop it up or do some leverage with it or do other components with it but you will have that base risk adjusted return and right now Eve it's between 6 and 20% on B&B it's staggering like 30 to 40% depending on the launch schol rewards that we're also tokenizing so we're always trying to automatically

3:04re balance to these like glue chip defi strategies so you don't have to worry about that and then have a liquid token on top of that for you for the user to decide either to go higher up the risk curve themselves or uh just stay stay put and just hold hold that token yeah yeah appreciate that intro Dale and there is a lot to learn I feel like wealthy people they're always looking

3:27for yield generating assets and what better than crypto assets that you know can be moved across the world wherever you are and and have all these great other prob uh pieces to them but the the yield generation part you know there there's a lot of different options and different dii platforms different reaking mechanisms on how can we get the the max risk adjusted yield as you're

3:54saying so I feel like the more you know about this the better um and you know there's a lot to dive into but I want to get a pulse check from you on the defi industry overall right now you know it's grown a lot over the past 5 years you've been involved since the beginning now you're at the Forefront of it with yield Nest um and there's a lot more than just

4:14uh liquid reaking in in Defi and all these different chains and interoperability between them where do you think what could you say is like an overall update for where is defi at right now the good and the bad yeah I think we lost a little bit the the the plot in some ways with all these meme coins and things because there is it's not just only meme coins

4:37and just gambling what we're doing in our industry right we're providing a new uh Financial layer where we remove the the barrier between the Builder and the idea not only the investor in the idea I think that's really important differentiate differentiator and you know there's this this tweet storm that I recently posted uh where I drew back to my defi 2011 and Def 101 course where

5:00I explained it you know like there's basically we have ftech which is basically centralized finance that it's not code it's not you don't you cannot go to the source you just have to trust a bureaucrat you have to trust somebody that says like all right you have so much money right and in defi there's no barrier between the Builder and idea so in CI there's not only that bureaucratic

5:25barrier but also if you're if we're now like oh let's let's build a bank or let's build some new d ative instrument you cannot just do that in defi we can build all these different instrument it's all open it's all open source it's all code and everybody can come in and build new mechanisms right and it's fantastic U and there's no trust the the the execution and critical logic happens

5:48as as as you go into the pool you can see exactly what's happening to your assets in traditional Finance you can't do that it's always very opaque and very weird and there's a lot of like legal stuff to kind of hide all the inefficiencies um but in in centralized in in decentralized finance you can see exactly what's happening right so I think it's it it is it is the defi is is

6:11the financial Revolution that we've been waiting for and defi is still very strong although right now the I mean the sentiment still high you can see people still Tweeting a lot about it if we go to the you know the the yers or the the sentiments we can see that defi is actually up in sentiment people going back to the core of why rexi here we're not here to just build a bunch of meat

6:31grinders or casinos I mean that's one part of it because like it's an open Financial system so if people want to do that fine but defi is also there to build a stable Financial infrastructure with money markets with different stable coins with derivatives of Eve derivatives of Bitcoin and then instead of stake your money in a bank where you stake your money in a savings account

6:51for 0.1% return or 1% return you can go into defi where the returns are higher and actually the transparency is also higher if you know what you're doing and that's I think a little bit of an issue right now that happened in defi where there was a lot of and there is even more complexity right now so I think for new entrance into the market it's quite

7:10overwhelming right they see all the complexities and they just buy mem coin right and I think that's going to change very soon right they're just going to be like well you know I have my money in a bank let's try to get a little bit of stable coins and stake that right or let's get buy a little bit of Eve because they want to have exposure to ethereum and then stake the e or uh

7:29let's buy some Bitcoin and I want my Bitcoin to do some work and then you st it in the max Bitcoin and B&B same story so I I you know I think the the the sentiment is Shifting more back to real decentralized Financial infrastructure uh we clearly uh made some progress where you know a maker out curve all these Blue Chip Protocols are still around they didn't blow up they're

7:53still survived all these all the drama that they've been through survived and still going strong most of uh but at the same time also you do see a lot more of a movement to centralize finance like now the president is coming in and it's like the White House and oh please buy our backs uh government I think that's wrong I think we are we are onto something very big here and if we

8:18work together we can actually build out a parallel Financial system where uh people can do Commerce Finance start to do uh real we always talk about our W but I think rwa in itself can be created if we build the right credit structures on chain we don't really need to tokenize RW we are the rwas and I think that that that that shift in in defi needs to needs to happen and yeah I

8:48think that's uh that's what we're seeing right now we're seeing defi maturing um it's it's it's a maturing industry right now uh uh I don't think you know you see the IV arcs coming back the institutional stuff coming back a lot and that's fine but I think defi only works when it's open transparent without kyc without AML it needs to be completely open without any bureaucratic

9:11barriers else it else it just doesn't work so I I I'm a big believer of that yeah I appreciate that uh explanation and the contrast between traditional it's great to have more transparency you're not hiding the inefficiencies the complexities but now that it is more transparent it can get a little bit complex I think most people understand the the the level

9:36one of hey I have Bitcoin I have ethereum I have B&B I can go and stake it and get a yield but then beyond that with the liquid reaking and looping maybe you can touch a little bit more on that and break down those complexities of okay I stake my eth I actually get something in return and then I can earn yield on that again or what are the options you know once the eth is staked

10:02what next yes yes great option great question right so if you don't stake eth you also have a beautiful asset which if we just focus on Eve at this moment right Eve is a proof of stake consensus algorithm so you you can uh either have your non-state liquid Eve you can put it in certain liquidity pools and there you can also in itself already earn a yield

10:24and actually wi X also has non-state e that it uses in buffer strategies we landed to landing and borrowing markets right so that's one part of it the second part of it what you can then do with it is is take it and get a reward for securing the network running validators and yness builds kind of its own liquid staking derivative token y and e not y Max is wiin and wine LSD

10:49which is a basket of other staking derivatives and what we do U with w x we kind of combine all these different combinations of what they user could do a user could stake it in a landing and borrowing Market a user could stake it and then restake it at IG layer then that derivative could again go into a sort of liquidity pool and all these actions are kind of lowrisk actions

11:14right so we're not using leverage we're not going to uh delta neutral positions or things like that we're all picking pretty low risk High uh high high risk adjusted return options for the assets where it's just staking uh and borrowing and liquidity pools right um and that's basically what we do and we have done a combination of uh different strategies

11:39and these strategies kind of automatically move around so then when the yield is higher on the curve pool we move to the curve pool uh when the yield is higher in the lending and boring markets we move more to The Landing boring markets if the reaking yields at some point will become higher we move more into reaking right so we're kind of ready for everything um uh every

11:58possibility right now on on on the e products yeah mhm yeah no I think it's really interesting and it's I think it's hard to understand the complexities and the options unless you just go to the platform and you test it out with a little bit of your eth or your BNB uh put a bit in and then you can see okay now with these derivatives I can uh I have other coins that I can now stake or

12:24do other things with and really that's what I say with Bitcoin as well when people aren't in crypto and they're like I don't understand the complexities I'm like if you just had $5 worth in your wallet once you own it and then you have a financial incentive to be like oh okay now I'm in now I can start playing around with the different yields and things like that and I feel like that's

12:43what's needed for reaking um because I feel like there's a lot of people that have those major assets sort of on the sidelines maybe they've tried out first level staking but there's so many people who haven't got into reaking yet which which could be maximizing their yield more yeah and I would say the the term reaking has been a bit hijacked right by

13:06by just I layer symbiotic Etc and I must say that these these Platforms in order to generate a real high yield on on your assets by exporting that security via restating there's still a lot of work to do there right so that's also the problem where these things move around all the time you it's kind of hard for a average user that maybe spends a couple

13:28of hours a week or a couple of hours a month on on on this D5 portfolio to know the all the ins and outs right and that's exactly why we buildt Max LRT products and it's reaking in the broader sense of the word where it's all about Capital efficiency and doing making your money work the hardest for you right so when you go into y evax it will automatically go into the highest

13:51yielding options with the lowest risk right so we're not going to get you the 2,000 3,000% returns uh but it it is between six and and and five six and and and 20% depending on market conditions right so that is I think for the use very important to understand that you know reaking is this very high technical term uh there's a lot of work to be done

14:13still by these these platforms themselves uh but I think reaking is a broader spectrum reaking is about um not only just using IGA but it's about hey I have my Eve um uh and I can put it in the landing Market a new in what they're now doing in Def actually convex uh it's defi OG project that I think Aston you know right convex and curve and convex build a new product called resupply and

14:40it's actually raking your loan right it is a very technical thing but basically what happens is if you have money and you have your your wiy Vex for example you can put your W Vex on a curv land market where you can borrow a stable coin CRV USD right and at stable coin you can go into another market right then what resupply did they actually make it possible to restake your loan

15:03into resupply so you already have your loan in one place but you can restake the loan on another place and kind of double dip on the uh on the on the loan to value ratio uh and you see these terms are already quite complex but what yield nness does it removes that complexity and all puts it into one token so you as a user don't have to worry uh you can be very certain like we

15:25you know we we take risk analysis and monitoring and we have 247 monitoring and threat prevention so we we're always kind of in the lookout for any issues and we we act on it immediately if there's an issue so the base yield on the w x which now is around 7% I believe that is a really stable yield it's going to be hard to find a um a yield that is the same amount of risk with that return

15:50I think it's right now impossible that that that that yield is the highest risk adjusted return in the market and that's what we're trying to achieve with the max El FS to always have that and then for the user to yeah do do they can do their own uh risk on top of that if they want to but that's up to them the base layer is always very secure yeah definitely no that's important and since

16:16the last time that you came on the show there's been a new sort of narrative that that has risen up in part with the growth of AI and AI agents and the actual inte integration of AI with blockchain where actual functionality and AI can actually help manage your portfolio or actually do functions rather than just typing into the llm and it responding and then you actually have

16:41to do it yourself uh we're getting to that inflection point where AI can do things and through that the the def there's Defi and then there's defi with the AI and the a sort of Silent there U but now with AI defi together that's taking things to the next level and from what I've seen with the Max lrts and and Y Nest you're implementing some def AI strategies in there so how does Defi and

17:09AI add extra functionality and and credibility into the platform yeah the best way to understand that and to follow along is go to our docs and go to our Max LRT docs right and there you will see in a an illustration uh if you scroll to the to the albon settlement and and why it matters you will see and a user comes in deposits in the max LT Vault and the max

17:33lult will via co-processors kind of allocate to the best like highest yielding strategies across different chains so it can be on on Bas it can be on op or can be on bar chain or arbitrum right and those yields across these different ecosystems will sync back to the max default right and where we use AI is not to do the execution because I think AI is not that mature yet so the

17:58AI we use in our model models it's always kind of this hybrid decision making where uh Nast AI That's our kind of our AI agent that we deployed is helping us internally by collecting all the data across all the all these chains and all these defi elements so always search for the high yield and what what yield Nan does is like it listens to the a listens to Nast in this case and be

18:21like oh you know I see on arbitrum today there is this stable coin strategy which which we have been following and indexing for over a month and the yield stays stable uh there seems to be stable inflow it seems to be okay you know we do some due diligence with these AI algorithms and then we decide all right let's externally integrate the strategy so the AI kind of proposes strategies to

18:45us then we externally integrate this stable coin strategy and then once we externally integrate it we again monitor it again we look at it again and see how it performs and then if we really like it we enshrine the strategy into the max LT Vault itself right and if we do that then it becomes part of that whole flow and it will get monitored Etc and then

19:07the other role that I plays there is it will then monitor the different ratios so it will also recommend to us like well I can see right now for example in our uh y Max product we have around because we're getting a lot of inflow now in in our product we have around 700 E that came in today and that's not allocated yet so the AI is like like flash is like hey you have to allocate

19:31that Capital uh we're not going to do that tonight so you know as I said highest risk adjust returns and these flows they move uh slowly but surely and then at some point there is a reallocation of that that Capital that's now just sitting in in Eve that's going to be reallocated in wi Eve or other in other products right um yeah and that's that is how we use AI at the moment uh

19:55how I want to yeah that's kind of the base case um and maybe I pause there and then I I I can tell how we're going to use it in the future afterwards yeah no I think that's a great explanation and I feel like it's so much easier uh if AI can can scan all the markets and accumulate all this information because there's just so many chains and different pools

20:20and different apys to go be going in uh without AI you're almost going in blind you know people are relying on it so much to to scan it inform and um but I think you're correct at this point where it's not something that you can completely rely on and you have to have that hybrid approach uh but I feel like as time goes on and the efficiency gets better that percentage will trickle more

20:46towards the AI and less towards uh the manual uh input part and I'm curious on what you think the timeline is for that and as you mentioned there alluded to the next question how do you foresee AI making yield nest and defi overall just more efficient and effective as AI gets better exactly right so I don't know if anybody saw the latest announcements by

21:12open AI open AI has announced that they're going to have these new AI agents uh they say we will give you a PhD level worker that that that will cost you $20,000 a month uh but this PhD level worker which can be a Quant or something can help you with financial test and other complicated math tasks right I mean that's the prop so if that happens that would be fantastic because

21:36what then happens is that every Max lert volt when it reaches a certain escape velocity like at this case YX is above $10 million so if you're above $10 million you get it gets its own dedicated AI agent right this own dedicated AI agent will then optimize these Vols completely focus on always processing all the data sets related to that specific strategy and that specific

22:02all these specific combinations right because there is um now actually since today we have a gondet pool Landing pool going live we have a Smokehouse pool going live and all these pools have a little bit of looping and strategies in it that we could optimize for uh but there's a lot of math involved there there's a lot of like parameters involved in order to do that in the

22:23highest risk adjusted way right so the AI can help there but I think actually for probably for the foreseeable time and maybe for like the coming years there's always this hybrid element that I think is needed because the AI uh can can make some mistakes sometimes so it can overthink or it can it can lose itself a little bit so I I wouldn't trust the AI to kind of be fully a

22:49ominously in the vault just yet I think that that will need a year or two maybe but I do think it's it's it's a perfect kind of like support agent and uh how we proceed is that yeah this let's say wi e Max or wine BB Max or wi USD Max or B&B Max will get all of their own AI agents and if they have enough escape velocity if the vaults make enough Capital by

23:12itself and revenue these vaults will uh push some of the revenue to the AI agent which can pay for subscription and stuff and also uh it pushes a little bit to sub Dow that will then appoint humans like uh like from the community so people will be able to apply in the do be like hey I like I'm I understand Eve I understand all the eve strategies then

23:37they can Bond a certain amount of Y andd or governance token and they can become a governor in this subd right where they can earn a salary by together with this AI so they don't have to be necessarily quants or super sophisticated like math geniuses but they can leave that to the AI but as long as these humans can can use all the more soft skills of like oh

24:02this is a strategy uh that the AI now proposes but there is a lot of kind of soft skills involved like who's behind this strategy is there maybe a scammer involved in this strategy that did something in the past like these things are yeah they're on the internet but sometimes they're a bit hard to find so I think you will need always humans to want check these soft skills and also

24:21check the output from thei so when the AI proposes for example a transaction uh we already built this uh with Nast this is already kind of in our internal uh hackathon we did just to play around with it we built a chat interface with Nast that can generate a safe account with users and then the AI starts to help the user to optimize its portfolio in this case the AI is completely

24:49dedicated to the specific product and let's say y x uh it's completely dedicated to that and how we see it is there will be in the coming time there will always be a bit of this hybrid model with a bit of human oversight but the AI is kind of going to supercharge everyone so that that even if you have uh if you have the motivation and if you have the power and the willingness to

25:12bond some need to become this Governor entity you will be able to then be kind of the human extension of this Ai and be like the human check of that AI right and I think that is still going to be important uh I mean there's a lot of protocols that are saying that that is not going to be the case I I'm a bit more a realist there and I think it it's going to be a really there's going to be

25:33a lot of breakthroughs and maybe it's going to go much faster than expected I hope so but realistically I think it's going to be one or two years for it's Canada's hybrid model uh and also for yield Nest we will probably be the last one that updates like a completely autonomous AI agent automatically G to do all these World operations because we we take security

25:53very seriously so we're not going to let an AI randomly do things so I think it's going to be a hybrid model for for for some time in the beginning yeah yeah no that's great insights and we'll see how quickly the AI evolves it it's moving pretty fast faster every day uh and the PHD workers and the the new operators on on chat gbt that can actually do things

26:18in in outside of crypto AI it's getting pretty Advanced uh which I think is going to be great for our workloads uh but implementing it into the actual Financial strategies I don't know if I can could TR trust it completely yet with my portfolio um you know and there's always extra risks involved there so but I'm glad that the this hybrid approach is being taken in yield

26:39nest and I think it's a major advantage for defi over over traditional Finance um to be integrating Ai and and testing it out um but don't don't give them all your crypto yet so uh I'm looking forward to to seeing how it plays out um and I feel like it's just very important for people to continue to play with Defi and understand the AI part of it because

27:04it's going to move quickly and you know a year goes by very quickly and um try trying it out before it gets to that point is is super important um and I know that there's already a lot of tvl uh on yield n and a lot of people that are already using it um but you would still consider it early I'm guessing maybe you can talk about where it's at right now and also just the advantages

27:28Beyond obviously getting the the max risk adjusted yield there's also the platform and you touched on the subow there I know there's a yield Nest token and all this other stuff that you get to contribute in and be rewarded for by being early yeah exactly right like uh indeed so the yield Nest Dow and again to follow along the best thing is just to go to our docks and go to the Y

27:55andd and v y andd token economics so we kind of redesign together with Aragon uh a new votes Road uh token model right so that means that the yd token in itself is a purely speculative instrument right and but when you stake y andd for v y v asro yness d tokens you will be starting to earn part of the protocol Revenue right so each of the yield on the line

28:23the max FS are actually free to use but when the max fold allocates a to a strategy there's some fee generated over that and that fee kind of gets uh uh uh sent to a reward collector uh then 80 or for 90 or 95% depending on the different strategies send back to the to the the max default and then to the user right uh and then a little bit of the fee kind

28:47of sticks into the Dow uh that's collected in different assets could be collected in Eve Bitcoin BB stable coin or you know there's also always air drops or other elements so there's going to be a bunch of tokens all these tokens that it accumulates will be buying back yd and distributing it back to the VD stakers uh this is a parameter in the Dow we started we start like that uh but

29:11eventually the dog could say no we only want to get paid out in y USDX for example or another sort stable coin that people want to get paid on or maybe there's going to be a custom option that a user can choose the the nice thing about the Aragon stack is that it's very flexible and it helps us in a aggressive way to meet eventually go to this fully

29:31decentralized Target that we have right we yeah we started yield nness with with Y which is this native reaking which is fully almost like fully fully decentralized but that makes it so that these products become very hardened and you cannot really change them so via Aragon and via the yd and model we're choosing this prog Progressive decentralization route on a very mature

29:56stack the Aragon stack and as you know like as Aragon has been around forever right like they've been like the first Dow building block and that's why we're also working with them uh and they're also investors in a strategic round Aragon so we're very close with them uh and we have this goal to then if you hold v y and D it's not the same as in curve right not maybe everybody's

30:20familiar with that but if you have CRV and you stake your CV you can earn a yield if you do it yourself you have to lock it for four years and or One here or like you can look it yourself but if you only look it for a short amount of time you have a little bit of voting power how it's going to work at y Nest it's an upwards bonding curve so you stake it and then every block you earn a

30:41bit more voting power and the more voting power you have the more uh part of the protocal revenue you earn right uh and you can always reclaim back your yd but then you burn your voting power and you get back your principal yd uh plus of course all the rewards that you've earned uh um so that is a new kind of approach to this to this for escort model uh we also have liquid

31:04Locker so this is actually on the this you that Alpha moment right so when the when the airdrop happens so now people that use the on a system earn seeds right because we want to reward all our early users to uh then U convince them and motivate them to stay in our ecosystem and help us with building better strategies because we have these uh in our uh Discord and chat groups we

31:31have all these people talking about different defi strategies and uh talking about different possibilities and uh that's what we want to encourage and reward right so uh soon we also have like some strategy Builder hacker uh like competitions that we're going to start so that's more like a thing to motivate our community to participate and actively help us with optimizing it

31:55like swarm intelligent in instead of using a bunch of AI agents we also want to use a bunch of human brains that we all work together and and come up with new strategy ideas um and these people will get rewards right these people are now getting seeds and eventually these seeds will turn into you know y andd tokens and people can then stake the yd tokens for ES yd tokens and earn

32:18protocol rewards and participate in governance um decide on gauges where to distribute future protocol rewards uh decide on proposals hey we're going to make a for Wix who are we going to elect as a governor right these kind of decisions will be able to make if you hold v y and d uh if you want to be a bit more of a passive approach and want to autoc

32:40compound all your rewards we also have liquid lockers uh and this is a concept uh yeah it's a really OG defi concept right the liquid lockers of the old curve bars uh we will start with a liquid Locker on Stak Dow and hopefully later also on convex where we will have the V ymd it's not a a permal lock because it's kind of like a new ve model where the if you sit in the in the

33:04liquid Locker you can still Arbitrage your liquid Locker so it's not going to be uh maybe in the beginning it's going to there could be deags right but it's you will be able to at some point uh get out your principle even from the liquid locker and arbitri it yourself or let other Bots arbitri it for you so there's quite a rabbit hole there I hope that was clear here uh and

33:30yeah again uh if you go to the toomics uh the yd and V yd toonomic there's beautiful illustrations and and flowcharts uh that display all the different flows of the tokens and the different mechanisms yeah yeah definitely um yeah there's a lot of options I think people just have to to to test it out and see what strategy kind of fits best in in their portfolio

33:55and and what they're comfortable with um but I I I've been using it I I've been I've been testing it out I know that there's an upcoming airdrop for it um I I still have to learn more I got to read through the docs again to understand the AI and I I want to stay on top of AI because I know it's growing uh and I feel like it's very important especially

34:15in in the defi sense um so sounds like yield nness is going in the right direction and I'm going to keep following along uh I can leave a link to the docs that you mentioned the tokenomics the main app that you mentioned and any of the other socials where people can follow the updates as they come um is there anything else you wanted to mention uh that uh that we

34:38didn't cover I feel like we've covered so much yeah we covered a lot and I think it was a very good compact episode where we uh we went over all the updates uh I would say from the Y side yeah our AI G is live we have our products live uh before the tge happens I would recommend to use the protocol this is beneficial we also have actually released our official airdrop criteria

35:04right so there is a couple of other mechanisms for year convex and curve like all the OG Blue Chip protocols to earn extra yield if if you're one of the Blue Chip token holders and if you have some sort of voting power you will be able to earn also in this upcoming airdrop uh I will share uh that with you now in the chat so you can maybe put that in the show notes um so there is an

35:31official uh outline of how users can earn rewards right obviously most of the rewards will go to people that are farming seeds uh there's a nice leaderboard we actually have upgraded the seat page uh you should take a look you can see we did a whole uh uh overview there um uh and uh uh oh yeah so here you can see the oh the yeah the airdrop the official yield nness airdrop

36:01everything you need to know so there's like an official media post now that outlines everything uh about the airdrop um and yeah it's it's it's almost go time we're we're kind of just preparing all the governance system actually technically almost everything is done uh we're just kind of waiting for the right moment to press the the you know to to to launch all the

36:27contracts all the do M contracts and uh we're doing final tests on that but it's it's almost ready to go we're very excited and uh we are looking forward to uh bring back some uh some old school defi to bring back some hardcore defi to bring back some defi that uh hardens uh mostly Works Blue Chips and hopefully motivates people to stop staking in centralized Financial structures and

36:54focus on decentralized financial infrastructure uh because I think your money should work for you and also it should be your money not the bank's money because at the moment when you put it at a bank it's not your money anymore right and people should be aware of that uh if you put it at binance it's not your money anymore if you put it at coinbase it's not your money anymore get

37:14a ledger get a get a uh or you know ideally not a hot wallet so ideally use a cold wallet it's a little bit Yeah challenging maybe but there's also all these new Solutions with webat ballets where you can do different ways of making it simpler and go on chain and and and and and and and become a self- sovereign strong self- sovereign individual and and use defi for the

37:41bment of humanity I think it's actually very very important especially with all the cbdc nonsense that is coming up in Europe and Israel it's a bit scary I thought first it was like I first thought it was like Europe developing a cbdc and it was like sure whatever but the recent information it seems that also Israel is helping Europe developing their CBC a little bit more scary

38:04because these people are pretty smart and they're going to lock you down and it's you know we need to have a way to escape we need to have we need to have a way to say no if they're going too far and um it's still kind of stable now but better safe than sorry just a little bit of your capital in defi so that you own it yourself learn it you only become

38:24smarter of it and that's better one thing that I would also like to close with like we had uh in in the past when me and Asen kind of got started in crypto we also had a bunch of scams right but at least these scams were pretending to be something right and and right now we just have meme coins where you literally learn nothing right and you know uh yness is is a great example

38:48of a good protocol where you know you you can start staking and then you can start to dive really deep into all the contracts into the accounting into the dech into understanding how we do things and that's what we want to encourage and not only Yi Nas but I really want everybody in crypto to think to themselves like yeah okay you know we can make some money on Meme coins but

39:07actually most people lose money on mem coins you're you're the exit liquidity when you go there so it's better to just like educate yourself in certain uh defi protocols or certain elements and then go there learn and become active Community member and that's the best way to really boost your Capital forward boost your knowledge forward get an unfair knowledge advantage over other

39:30people and just be a self strong self- sovent individual I think it's very important especially in this time yeah definitely thank you so much amadel for all these insights uh I'll make sure if anyone wants to learn more it'll be all be in the show notes I'd love to follow up in the near future to see the next versions of of yield nest and and how Defi and AI are evolving and uh we can

39:55tell more people about the benefits and advantages of being a self- sovereign individual so thank you so much again and uh looking forward to following up in the near future thanks appreciate it eston uh see you next time and very very excited for this thank you