Hello and welcome to The Ether. Today is Tuesday, March 8th 2022. This episode of The Ether is brought to you by Talis. Talis Protocol is the NFT platform for independent artists on Terra. Talis helps to provide artists with the tools and resources needed to transition from traditional arts into the NFT world. With their V1 launch coming soon, Talis will be the place to see real world art reflected on Terra. Be sure to join their Telegram and follow Talis on Twitter for updates on their roadmap, validator, and other Tallis news. Find your next favorite artist on talis.art. This episode of The Ether is also brought to you by Orbital Command, a community validator on Terra dedicated to educating, expanding, and promoting, the LUNAtic community. Have you heard about the new Terra Invest Strategy Discord server Orbital Command spun up? If you’re looking for a chill place to chat about different LUNA staking strategies, or looking for some alpha, or if you’re trying to find the best UST farms, or even if you just have a quick question you need answered, be sure to stop by TIS and say hi to the Orbital Command gang. Hell, I’m even in there sometimes when I’m not editing hours of Cephii Spaces, you can find me in that server chatting about NFTs and answering basic Terra LUNA questions. The link to the server is in the show notes, and for more information check out orbitalcommand.io. TerraSpaces appreciates the support from all our sponsors. Today on The Ether, the Levana AMA, Faction Wars, PDAs, Token Launches and more. Let’s take a listen.
Levana Protocol 2:12
And have a conversation about some of the recent launches, and we can kind of talk about how Levana intends to differentiate ourselves, some of the mechanisms that were putting in place, some of the brainstorming that we’re having with the Delphi team, there was a really great Mars AMA. Yesterday, I don’t know if you guys were listening, but the Mars team is very talented, and it was a very challenging series of events that occurred. And I think we’ve seen it all today, even with some of the… Oh, we got a request. Let’s see who wants to come up here. Oh, there we go. Farmer. Great. We’re connecting you up here. So as I was saying before, it’s very challenging to launch a protocol in any space and specifically in the crypto space. The fact that Levana has now launched the Meteor Shower, the Cracking Station, the Nesting Station, Salim’s Side-scroll Adventures, four different distribution of play-to-earn rewards for the Side-scroll Adventure, the Discord bot, and then two card games on testnet, and an upcoming game, which we’ll be launching later this week. And we’ve had all of that happen without hiccup, I attribute to miracle more than anything else. I’s incredibly challenging to launch one thing without any major calamities, but to get kind of seven in a row is just outside of the boundary of nature.
Levana Protocol 4:03
So I just think it’s miraculous and we… Well, we aren’t taking that for granted. And so each time that we launch, we look at the challenges, specifically challenges around network congestion. If you remember, some of the challenges that we had around nesting, we had to delay nesting for about a week because of some challenges with the Terra blockchain. And then even once we did launch, there were many… There was about one out of three people that tried to nest their egg had challenges with it. So, Farmer, you’re up here as a speaker, I’d love to get you on and to kind of hear some of your thoughts around some of the challenges of launching a token on Terra, because I think that that’s one of the topic that’s on the top of everybody’s mind.
Farmer D Brown 4:57
Yeah, sure. Thanks, Jonathan. First of all, I think that we all kind of need to remember that we’re not entitled to free tokens from any launch. And I think that the response yesterday to the dump that came out of Mars was quite childish from a lot of people. People have locked in the UST for a period of time, which should have shown a commitment to the protocol, but instead a lot of people thought that they would just take the money and run, which if these people are bullish on LUNA and they’re bullish on the ecosystem, then that’s quite parasitic and short-sighted behavior. With that said, the way that the token launch was designed, it should have been painfully obvious to everyone that there was a dump of epic proportions underway, because there was no vesting involved, you can see that very few people locked their tokens into the second stage, and just the whole game theory around the way the bets had set up, it should have come as no surprise to people that there was going to be a big dump. And there was, so I think at the end of the day, we need to remember, we’re not entitled to free stuff, we need to think long term and support the protocols that we want to see do well. And then if we do want to avoid a dump, that comes down to the way that things are designed, and incentivized, and that’s where the genius of your design will come in. And good luck with that, because it’s not an easy problem to solve.
Levana Protocol 6:45
No, one of the… Look, in terms of the projects that are currently incubated from Delphi, Astroport, and then Mars, and then Levana, Levana is in a lucky spot that we’re the… I don’t know, if you’d call us the redheaded stepchild or… We’re the third in line, very clearly, we have somewhat of a different DNA, where it’s a bit of a more… We’re definitely a more experimental project, and trying to do things differently. And so we get… Also, because we’re third in line, we get to kind of see what worked and what didn’t work. And I think that going back to, I guess, my first dumping was with Anchor. I bought… I think I bought Anchor tokens, I aped in at $6 for that. I was like the one guy that bought the top before the Anchor tokens had a glorious crash. But it’s alright, I know how to dollar cost average, and I know how to size my position, so it’s all good. But one of the challenges that’s happened is trying to find that right balance.
Levana Protocol 8:06
What did Mars need? Mars needed a massive amount of liquidity in order to launch, and so they broke up the incentivization method of the launch phase, which was 50 million tokens, and 50 million tokens were given for that initial lockup, but then only 10 million tokens for creating the liquidity pool. So people were very incentivized to lock tokens to the protocol to earn a lot of MARS, and that MARS unlocked immediately. And then, Farmer, as you pointed out, and I know you and I have a… We spoke about this at length, I think going back even two weeks ago that if the second half incentivization is the weaker incentivization, then what you end up with is 80% of the tokens that are sitting liquid on the market, and then 20% of the tokens which are locked as in the LP positions. And so, you know, as you you rightfully tweeted, maybe it was a week and a half ago, that the incentivization mechanism lent itself to initial downward pressure, which I believe in the long run, Mars is a valuable project that solves a real problem and has a talented team behind it, so in the long run, they’ll be just fine. But in the short term, it’s not fun to launch a product where they’re worried… It’s not full of delight.
Levana Protocol 9:55
The product, especially… I learned product design through Apple. Really, I think Apple, I mean… A lot of people hate them but when you first take an Apple product and you unwrap it, that becomes an experience. And then that’s… We have the unboxing and everything that’s associated with that. So I believe that that first impression that you have with a product is so important to really think, in very minute detail about. And so what we’ve decided, and we’re going to probably publish a litepaper… Or not a litepaper, but publish a blog post about this. We asked the community on Discord, remember Discord when that thing was around? So we asked the community based on how the Mars launch went, should we regroup, because we had reused a lot of the code, which was originally the code for Astroport for their launch mechanism of an LBA, which then was inherited by Mars, and they use the same mechanism, and so we see that there’s room to improve, and we are dedicated to improving, and we are not afraid to experiment. And so that’s caused us to put a pause on…
Levana Protocol 11:31
We were excited at the end of this month to announce our airdrop and our LBA. and what’s clear from the community’s feedback, and then seeing how the Lockdrop in the LBA in its current form has prevented that delightful onboarding experience that it’s important for us to regroup, and then to run through the numbers and run through simulations, and make sure that we come away with something that is going to be a positive experience for our NFT collectors and for our DeFi enthusiast that are really excited to get their hands on the LVN token. So we’ll have more information to share on that as it comes out. Again, really great call with Delphi today, we’ve got another follow up with some more of the team tomorrow. And as what we’ve always tried to do is lead with integrity and transparency, and keep the community well informed as to what our methodology is and what our intentions are, what our strengths and what our weaknesses are. And we want to come to market with a token and with a token launch plan that we feel the entire community will be able to rally around. So with that, I know there’s a lot of other people up on Spaces here. So I’m going to close my mouth, and then you guys can come and hop on and share some of your own thoughts and ideas on this topic.
Oh, I thought we could have questions on the PDAs and the Faction Wars.
Levana Protocol 13:19
Yeah, you’re more than welcome.
Okay, awesome. Awesome. Hi, guys. Happy International Women’s Day, right? Isn’t that today? It is today. Thank you BeachDragon for all you do. You are so appreciated.
[chuckle] Thank you. I really appreciate your leadership and the Terran community. Kudos.
I’m having so much fun. I do have a couple questions. I’ll ask them real quick, so other people can come up. So my first question is, is there any alpha, a little extra alpha we can get regarding the mysterious quest number eight?
So I’m not sure how much I really want to lean into this. But I think I was pretty clear that I am dyslexic. And originally, I obviously missnumbered my list. But since I missnumbered my list, and 8 is a lucky Levana number.
Oh I thought you were just joking.
No, I wasn’t joking. It’s a lucky Levana number, it caused me to say, “Hey, wait, there is a hidden quest that clearly I was thinking of, that I hadn’t been thinking of.” And I will reveal it in due time. So it forced me to think of another quest, but it really was just my inability to write list of numbers in a coherent manner.
That’s fantastic. That’s fantastic.
But it’s 8, so of course, it had to have hidden… It has hidden meaning whether I want it to or not.
I like it, I like it. So thank you so much for that. And then my other question is on the PDA, is that in a… What language is that? Is that some kind of ancient language?
That is a great question and I’m going to say that more information about the PDAs is going to be forthcoming. But I don’t want people to spend too much time trying to decipher the language on the… Let’s call it the splash screens of the PDAs.
Fair enough, fair enough.
Levana Protocol 15:21
There will be… So I’ve always been promoting the use of cryptography within our puzzles and games. And what we found from a few of the the attempts that we had to date is that there are much better cryptographers than myself within the Levana community. And after numerous attempts with about three or four different styles of cryptography, throwing them out at the community, everything that I made was cracked in under 10 minutes. So that took a little bit of the wind out of my sail. So I can answer this directly. It is not… We put a funny easter egg in the imagery there. But it’s not hiding any hidden secrets. But again, the imagery there will be updatable. So the PDAs is really inspired as a game mechanic. If you are Zelda player, and you played Ocarina of Time, and you remember Navi, and it was used as both a communication, a way to be able to… Really for the game developers to be able to say things and communicate things to the players. Navi taught you how to do a forward roll, it taught you how to do a jumping attack, it told you to go to the Deku Tree. So we wanted a character like that in the world of Levana, and so the Personal Dragon Atlas became that. And it was a great treasure to for Salim to find underground. And then we had the question also, well how did that PDA get down there? So we actually just released today Levana lore number six, which shows how the first generation of Martian spelunkers how they ended up discovering the hidden dragon temples underneath the surface of Mars, and then presumably how the first tablet would have gotten lost down there for then Saim to find at a later point in his own spelunking career.
Oh, thank you so much for answering that, and I will yield the floor to the… Anybody else. Thanks.
Awesome. Thank you. So I wanted to just add to what Jonathan said, and say that you should expect more secrets to be revealed by holding on to that PDA. I think that every dragon rider and player obviously needs one and that’s why the people that are staked into the Faction War and playing received PDAs, and those that aren’t got something else if they completed Salim’s Adventure. So they are really quite unique and critical for moving on in the game.
Levana Protocol 18:23
Yeah, guys, when we give you game items, just keep the game items. That’s why we’re giving them to you, so you can play with them. But no, it is obviously one of the fun of NFT is the secondary market. But we will be excited to make some cool experiences that will require the PDAs. And so if you got one, we challenge you to hold out and give us an opportunity to delight you with a unique experience that will come through the PDA.
Thank you, Jonathan. This is Chad, RunningCut. A question going back to the liquidity providing and the token launch, you had mentioned that Mars had to create a huge amount of liquidity. Is there something that Levana needs to create? I know the Meteor Shower helped us get that L2X pool up and going but is there more, or some specific things that are needed for that?
Levana Protocol 19:27
Well, the nice thing is, is that farming gives an opportunity to be able to reward liquidity providers over time. So there definitely is a chicken in the egg with a lending platform or a money market like Mars to start with 200 million UST. So that’s what you need in order for an institutional investor or whale to be able to come in and then just want to be able to borrow $50 million against their LUNA, or $100 million against their MIR, or whatever it is. So there really is almost a chicken in the egg that until you get that certain level of liquidity, that the protocol is somewhat stifled. Now, in terms of generating leveraged baskets, it’s a completely different risk profile. And it’s a completely different requirement to… Our intention of LUNA2X is to launch at a rather modest pool. Initially, we’ll test it internally on mainnet with a few even hundreds of thousands of dollars, half a million dollars. And then we will ramp that up as we see the system is effective and weathers the storm. Initially we’ll provide liquidity from the Meteor Shower and so that will get us up to a couple million bucks. And then to grow it beyond that based on product market fit, so then we will open up liquidity farming where users will be able to mint new LUNA2X via depositing LUNA, and that LUNA will then go into the pool… Essentially it’s similar to an ETF, if you’re familiar with how that works, where it will go into the pool, increasing the market cap of the pool and actually minting more LUNA2X.
Levana Protocol 21:28
So that’s something that we think that we feel confident that we can take a gradual approach. We don’t need somebody to come and drop hundreds of millions of dollars on day one. And then in terms of the perpetual swap protocol, so there is more of a requirement for UST there. Still, it’s not the same mechanism that we would need. Because there’s a dynamic funding rate, and so if you have a lopsided market, let’s say that the market is predominantly long versus short, so then you will counterbalance that with a risk pool, which is similar to a liquidity pool, it’s single sided like you find on a money market, but that will also… Again, the mechanisms are there to inspire arbitrage enthusiast to come and take the other side of the pool. So while it definitely will be helpful in terms of launching a perpetual swap to have millions of dollars, what we’re debating is who do we want our tokens to go to. Who are the community members that share a long term vision as to what we are building, that we feel are the aligned interest?
Levana Protocol 22:59
For us to be able to create an opportunity where a whale could come in and just take half of the tokens, or at least the initial tokens and then just dump it on the rest of our community, that’s the type of thing that keeps me up at night, just on a personal level. And so, because of that, I think that we have some tough decisions that we want to make. Do we want to focus on out-of-the-gate vanity metrics? and I use the term vanity tongue in cheek, because it’s not vanity for most protocols. Astroport needed the liquidity, Mars needed the liquidity, but to some extent if we were to have an incentivization program where we’re offering tens of millions of tokens to people providing liquidity, and then we attract whales to come, or institutional investors to come, and then take half of that, or two thirds of that, or 90% of that, we are really exposing the community to a risk that I don’t want to expose them to. So we’ve got to find the right balance and we have some ideas. And I’d love to hear some ideas from some of the big brains that are on the call here. Cephii, I’m looking at you.
Levana Protocol 24:22
And we want to come to market with something where the next day, 24 hours later, everybody feels good. Now, obviously, all token launches have that kind of like a hype, and they have somewhat of a spike and they have somewhat of a drop, but the more that we feel that we can minimize that, the more that we feel that we can create a long term journey of delight with the people that adapt a long time preference along with Levana, and they want to be on this rocket ship for the long term, I think that that’s ultimately the right direction to go in even though it may force us to give up some of those big PR headlines that you can get when you attract hundreds of millions of dollars of capital out of the gate. So that’s kind of the soul searching that we’re going through right now. And I’d love to hear some feedback from the community on those choices.
Hey, Jonathan, good afternoon, hopefully everyone’s doing well. Maybe we can start by… Maybe I could describe my experience with the Mars token release, and how I thought that through, maybe? Is that a reasonable place to start that? So let me just… Let’s put it in the mind of an investor here. So someone wants to buy a token, they don’t want… By buying too high, obviously. Everyone wants an up only token. I mean, in a traditional world, the fairest situation would be early investors, or venture investors, or angel investors, whoever, typically get into projects of various types early and take on that risk, because they expect to have sort of a relative upside benefit if things go well. And it’s not typical that you buy something, and then the value drops after you buy it. It’s kind of weird as a user experience to have that happen. So in this particular release, I did not, for some of the reasons that Farmer mentioned earlier, I didn’t necessarily go and participate in the early UST deposit portion of that system. I kind of watched it and immediately after open, I guess people dropped their airdrops and sold them, I suppose. And I did collect a sizable airdrop from my staked LUNA. And I said, “Okay, that’s cool.” Kind of like free MARS tokens for me. And I guess you could argue that the first thing mathematically, you should have done would have been to login and sell them because that would be the obvious imperative in order to not take the risk of the downside.
But I didn’t. Actually, I didn’t even notice that I had airdrops there, quite frankly. [chuckle] I just didn’t even care to look until today, because the network was congested yesterday, I didn’t play around. But pretty much what I did personally was, I have a basic strategy for buying anything. And that’s essentially exponentially allocating when I buy, which implies that… Let’s say, I think my first buy of MARS token was about $0.85. And then I think it dropped down further, I wasn’t paying that close attention to it, really. But next buy I made was maybe $0.65 cents, and I bought I think about triple the amount that I did on the first buy. So I tend to go exponential all the way to the bottom, which basically implies that I have to be very conservative with allocation because in order to size the buys exponentially, you have to save your money for the supposed bottom. Worst case scenario is I miss a bottom and token price of some project go straight up, and I just don’t have as much of it. Okay, fine. But in order to sort of maintain my portfolio in the relative green, I tend to buy exponentially. So my theory for how these drops should occur for people that are the retail buyer, it almost seems like a some sort of bot that would do this for you is the right way to do it. And maybe a vault that is created by the protocol. So for example, if a user decides, “You know what, I’d like $1,000 worth of Levana token.” That’s what I have to buy with. One possible way to have the protocol buy you the token would be maybe over the course of, let’s say, I don’t know… You could have different vaults but, let’s say, a three month vault and it buys daily, and if the price falls it buys more or something like that.
Levana Protocol 29:39
Isn’t that a traditional dollar cost average strategy?
Yeah, a traditional dollar cost average or even a dynamic dollar cost average, either one depending on which vaults a person would prefer to participate in, where whatever your initial buy is, any buy below that, the buy becomes more it becomes bigger. Not just a traditional DCA, but a dynamic DCA, and that’s because crypto has extraordinary volatility on sentiment, because most of the valuations are purely arbitrary for most people. They’re not like looking at anything… People aren’t using any useful metrics, they just sort of look at their original buy, and then they look at the percentage drop from that buy, and they’re like, “Okay, the price has dropped 80%, I think I’ll go in around here.” It’s purely emotional.
Levana Protocol 30:27
Yeah, it’s relative value is the easiest thing conceptually for… Anchoring is so powerful. And then based on the anchored price, we determine in an instance, whether or not something is discounted or inflated.
Exactly. So my thought is some form of a purchasing method… I take all of the points that you gave seriously, for example, you don’t want whales to just come in there and get all the tokens. You don’t want to have only three people running all of Mars protocol, because they got all of the coins. You want some of it to be distributed in an airdrop just for getting a wide distribution of governance and voting. And that becomes confusing to deal with if you have too much of it centered, right. And then you want to have some kind of holding pressure for the coin, where whatever the reason you’re holding it, the return is high. But usually that’s accomplished in the form of high emissions, which then people can use those emissions for mercenary capital, instead of what it’s useful for, which is to try to benefit the early holder. Because really inflationary rewards and crypto are meant to mitigate volatility risk by giving you some reward for holding, right. But what oftentimes people do is they do weird things, like they run it in autocompounders, or they’re gonna…
Levana Protocol 32:03
Yeah and autocompounders really destroyed the… I’d call it Gen 2 token economic model, where Gen 1 was… I make Lemonade Protocol… I don’t, I don’t even know if there is a Lemonade Protocol, I’m just using it as an analogy. But I make Lemonade Protocol, you want to buy my Lemonade, you have to buy my token. That was like 2017, the first token economic model was, we’re all gonna be Bitcoin. And then the second token economic model was somewhere between Maker DAO and Compound of saying that, “Okay, it’s gonna be governance. There’s… ” Maker DAO didn’t have emissions, but Compound had emissions, and then that really kicked off farming. I mean, Yearn had emissions for like a hot minute, until they turn that off. But now, what we’ve seen is that we’ve gotten so good at farming emissions, that it’s lost the goal. It’s like…
And this is sort of why I like… The coins that I’ve liked so far, I like the way at least xPRISM and xMARS, how they are… That any kind of compounding of yield or protocol revenue goes to increase the value of the coin and not necessarily create an emission type process. I think when you are staked, and you know that the coin you own is going up in value, sort of like a stock might go up in value, there seems to be less… It’s a slower process, it takes while, there’s not a strong reason to try to buy and sell it quickly to try to make a quick buck. And I also like the concept of tokens that get burned, but not as an arbitrary deflationary mechanism. I like when they get burned, sort of like with how LUNA does, where there is a specific rationale, it’s almost like… Imagine going to a concert, you pay for that concert with a ticket…
Levana Protocol 34:14
And they rip the ticket.
It’s ripped, it’s useless after that, it can’t be used again. And when you have some kind of utility of the protocol using the coin, and that coin is destroyed forever, that provides another sort of model for long term holder benefits. And I think LUNA did it, and I had an interview with Fanfury, which is like an eSports… Not eSports, fantasy sports type of gaming thing. And they’re looking at the same concept, every time you play their game, some of their token is burned as a result. So the more popular the game gets, the more beneficial the total supply is for the long term holders or something like that. So anyway, just some thoughts about how I buy these things, and then secondly, how I think long term, some sort of system has to be in place to help the investor be successful. Because most of us basically don’t know what we’re doing. That’s the reality. People sell when they’re supposed to buy, they buy when they’re supposed to sell, and you get amped, you jump in because the hype of whatever is going on. And I think most people, they have to sort of be protected from themselves by a protocol that sort of does it for them, almost. Does that make sense?
Levana Protocol 35:38
Absolutely, absolutely. And I think that that’s also why… I know I’ve been saved in LUNA because of the unlock mechanism. Because of the fact that I was staked, and my bLUNA would have like a 4% spread. And I say, “You know what, I’m just not going to touch anything.” So the times where I’ve been most successful is when I just kind of have thrown my hands up and said, “You know what, I’m just not going to touch anything.” Because I know that I’m not a skilled trader. I’m much better at the VC play of long holding. And I’ve been very involved with the Mars project for about a year now. I think I count as a contributor to the project. I never wrote a line of code in it, so hopefully I don’t offend anybody by using that terminology. But I view myself as a as a contributor, I should say that
But if we look at how LUNA’s mechanism works, there’s a narrative that spins from it, right. There’s a story you can tell about how it goes up in value, and how it’s built to benefit the holder/investor of this coin. And I think the story should always be really really cohesive. And you almost want to have multiple value accrual mechanisms, almost like where there’s a dashboard showing you all these different things that are happening. Okay, there’s a burn rate, there’s a… This many coins were used by players or people who… Whatever the utility of the coin is. And the more of those kinds of narratives you have, and the more shareable they are, the more the community will end up shilling, for lack of a better word, the project. And then therefore it gets more attention as like a perpetual motion machine type of deal, right. It’s sort of like everyone love Bitcoin, so everyone told stories about Bitcoin, Bitcoin price go up, right. It’s like that simple.
Levana Protocol 37:52
Yeah, orange coin gud. And I agree with you, it needs to be very easy to communicate. There’s always a challenge with this because at the end of the day, for it to be successful it has to be complex. Because there’s not going to be one silver bullet, and you as a designer, a protocol designer, or a developer, or a contributor, you’re always going to be looking at this thinking, “I’m not sure…” It’s hard to anticipate all of the different game theory that’s going to go through the different actors with their needs, and their time preferences, and their capital, and then the macro situation. When LUNA goes on a tear, and just runs, goes from $6 to $60, it’s very hard for anything else to compete with that. So even if you’ve got the greatest project, with the greatest value accrual, people are just gonna dump your token and then jump on the LUNA bandwagon. So there’s so much thought process that needs to go into creating an effective value capture mechanism that I believe that the only way that it can be successful is if it’s multifaceted.
I do happen to like, by the way, how Prism’s value capture mechanism is indirectly related to LUNA, and it’s sort of a leveraged play on LUNA. It would be interesting if that type of dynamic would be possible with Levana, in the sense that the better Terra does, the better LUNA does, the better your Levana token somehow does. I’m not sure if that’s even possible necessarily. It’s something I like about it. The other thing is, with LUNA, what’s interesting is I know enough about it to where I know that the mechanism’s amazing. I don’t necessarily have to teach the entire mechanism to my cousin who knows nothing, right. I can feel comfortable as sort of a… What’s the best description? Almost like a master user. I feel good enough to tell someone else, “Yeah, I think you should get this because it’s awesome.” I don’t have to teach them every reason why it’s awesome. All I have to show them is maybe how to deal with price volatility. And the lower it goes, the more you get, it’s as simple as that. So any really good coin, that’s all I should have to tell someone, right. And I think it needs to be at least… The complexity has to be in the background obfuscated from necessarily a person who otherwise just understands price action, or maybe that’s the only thing they have to learn. That’s kind of my intuition about it having seen so much of this for so long. I don’t know if that makes sense for the Levana coin or not.
Levana Protocol 40:52
Yeah, aligning the interests of Levana to LUNA, and actually… I mean, we chose the name Levana… Levana is a Semitic, LUNA is Latin for the moon, and Levana is Semitic for the moon. So creating that long term alignment of the… That their successes are tied to each other has been a core tenant of our goal in designing this protocol. So absolutely that’s something that we’d like to see. And that’s also why we want to start with a LUNA2X, we want to start with perpetuals, where you can trade long and even sometimes trade short with LUNA, because we feel that the killer product that’s clearly differentiated and underappreciated within the entire crypto ecosystem is the symbiotic relationship between the Terra token and the LUNA token. There’s nothing else that’s like it in the market today. There’s nothing that’s mission driven. There’s nothing that really has the real potential to become the number one token in the entire crypto ecosystem. And that’s what makes me so excited to take long term alignment with this ecosystem, which I believe we’re super early on. And I think that you’re absolutely right, that the way that you create a successful token is it has… I don’t want to use the word “complexity”, because I think that that emphasizes the negative, but it has elegance. That it has an elegant mechanism, which works. And it works in multiple environments. It’s got multiple value accrual mechanisms, whether that’s through volatility, or velocity, sucks through governance and unlock periods, whether that’s through sound emission and wide distribution, whether that’s through profits from the protocol being used to burn tokens off of the market, and then create deflationary pressure, or whether it’s even gamification, which is something that we’ve been focusing a lot on, where you create a play-to-earn experience that helps bring on a constant flow of new community members that then participate in your core DeFi protocol, and then they take the emissions that they were rewarded, and then burn them back into the gaming experience… Work with each other, in order to be able to create better experiences within the gaming experience.
Levana Protocol 43:55
So it’s the multifaceted approaches, I believe, will have the best chance for long term success. And then the simplified manner of saying, “Yeah, the more people that play, the healthier the token becomes.” Being able to just distill it to just a one… Not even an elevator pitch, but just a one or two sentence, line item, I think that that’s the key to creating a concept that is mimetic, that can be interpreted as a meme, and then can go viral. Similar to orange coin gud.
Yeah, absolutely. And I’ve been saying this too, is I think the NFT communities really should think about… Not just Levana but just NFT communities in general, should think about the idea that the NFT communities have all the artists, right. And artists are the ones that are likely to be able to create the beauty, and the memes, and the attraction towards the protocol for normal people who have no idea what they’re investing in, or the nature of money, or blockchain, or whatever, none of those things at that point matter. The artistic layer is what makes, say for example, video games really fun, right. Think about early role playing games, you and I probably sat and played around on paper and whatnot.
Levana Protocol 44:36
I mean, I did last week.
You did last week. [chuckle] So you can imagine that compared to the experience in some of modern video game worlds, where there’s just a beautiful art experience and all of that’s happening. And you don’t have the slightest clue all the calculations going on in the background necessarily, right. They’re all happening the same way that they’re on paper in many ways, maybe with more complexity. But a lot of that complexity is essentially obfuscated, and you’re just having fun. And I think the NFT communities can really bring a lot of folks to Terra the same way this happened with Solana’s crowd.
The only problem with Solana’s crowd is, and what’s different in the LUNA community, or the Terra community, is that you got so many people there for the pop culture who aren’t necessarily phenomenal investors. So you get a much bigger pump of the coin, and when the price goes down, a much bigger dump also. And that was obvious within that system that you had a lot of retail players, buyers in that coin drove everything up, and then crash it subsequently. Because most retail buyers, if they’re not really into the ecosystem, they’re not really into the primary layer one coin, same thing happens, right, they dump it. Because when it’s going down they don’t understand what’s happening, they understand why they pay double for it now it’s worth half of what they paid, and blah, blah, blah. So it’s interesting in the Terra community, we have a lot more people, I think, that got in the system or playing in Terra who are more serious… At least by my estimation, more serious crypto enthusiast and such, with people like Delphi and whatnot backing a lot of these programs like yours. And then that created a more hardcore Terra community, if there is such a thing. And I think the NFT communities can bolster that in many ways, if they stick with that general vision. And I think Levana is sort of trying to do exactly that.
Levana Protocol 47:37
Yeah, exactly is that. That’s the vision here is, is that you’ve got to… It’s the same way with my kids is that I know that they can be bribed with sweets, and treats. But if that’s the only thing that I feed them, then they’re not going to… I mean, first of all, they’re going to be an emotional wreck. And then secondly is that they’re not going to… It’s not a sustainable lifestyle. So there has to be that candy or that something that’s palatable, that’s just easy and instantly appealing. And we think that that’s a sense of beauty, an emphasis on high quality design, an emphasis on mystique, and fun factor. And that’s all good to attract attention, but if you don’t funnel that into something that has a sustainable longevity to it, which I believe is the education of self-sovereign finance, of open finance and interoperable finance, and have it directly translate into commerce, which is the main use case of financ, is that you and I can have storage of value and medium of exchange, if you don’t bridge it to something that… The word… Is what I would pull here, but I don’t know how to say that in English.
Levana Protocol 49:18
Yeah. So if you don’t bring that to reality, then all you’re going to end up doing is creating pump and dumps, or you’ll end up gonna not be successful at all. So that’s why I think also, again, what’s so great about building on Terra is that once you get people involved, then you can integrate… You can feed them not only into something like leverage trading, which is a more complex product, but I think a very important primitive, but you can funnel people into Anchor, and into Mars, and into options, and Sigma, and White Whale, and in all these other great protocols that either already are live or soon will be live. And so then it’s like you came for the lols, but you stayed for the fiscal responsibility. And I think that if we can somehow achieve this, then we will have created a bridge that can really impact the world.
I just wanted to add to that, Jonathan, I think that’s 100% accurate. And I also think, though, that… And I think I’ve said this before, is that if you look at the last two years, people were pretty isolated. And I think the thing that made Levana unique and still makes our Discord and our community unique, is that people are here for each other. And it’s really a community of individuals looking to help and to educate one another. I think recently on Twitter, we got voted the most organized Discord. And a lot of people have commented and said, “I really enjoy coming to the Levana Discord even in the middle of the Faction Wars, because I feel like I’ve made real friends here,” as anonymous as everyone is, right. And I think that that’s very much true. And if you look at the Faction Wars, our goal wasn’t to divide and create real war, but rather to give people smaller groups that they could relate to and feel like they had found their people. And so that even in the anonymity, and even in the aloneness of crypto, that we could provide community and a sense of belonging, and a sense that we are really all going to make it. And so when I look at the crypto space, and I look at other pump and dumps, and I look at other NFT projects that are all just about, let’s put art out, or even garbage art. A lot of people were like, “Oh, look at Pixelmon, they’re gonna make dragons.” I think everyone knows what happened with Pixelmon, right, over the last few weeks. And you look at Levana, it’s just a totally different… It’s a totally different vibe. And it’s a different experience, and we were hoping to build something that would have long life because people want to be here, and they want to be with us, and they want to join us on this journey.
And part of that journey, our goal is financial education and making sure that people understand crypto finance, and that they can be a part of it and enjoy it’s success. But behind all of that, to me, is the power of the Levana community, which is just outstanding. And I adore it, I adore the people in the community. And I hope it shows. We enjoy spending our time on the Discord because there’s real people here looking to help one another. It doesn’t matter if you’re a Council, a Free Martian, a Terran, or a Guardian, people are really here helping one another. And that’s just awesome.
Levana Protocol 52:37
Well said. So I’m curious if anybody else has any questions. One of the other topics I wanted to talk about here was just the challenge of network congestion. There is a… Even today, earlier today, I was trying to swap on Astroport and I just wouldn’t go through, I just couldn’t get a quote. And at first I thought it was local and then I talked to other people, and they had some of the similar problems. And I reached out to some of the core devs at Terra, and they were very responsive and said, “Yeah, we recognize some of the issues that we’re facing, we’re working on it,” and within a couple hours, it was up and running. But it’s so hard when there’s so many moving pieces, and this is also one of the other challenges that happens with a launch. Because naturally with a launch, everybody comes in, rushes in, to try and get what’s theirs, either what they think that they earned, or they didn’t, or whatever their expectations are.
Levana Protocol 53:49
So we’ve been even experimenting with the idea of vouchers, of saying when you get your token, maybe there’s ways to give your token through something that’s not time sensitive, that then doesn’t force everybody to kind of run through the same double doors, creating the congestion that can really ruin an experience. So, again, we haven’t really seen any… There’s no playbook to go down this path. But that’s okay, we’re not afraid to go the road less traveled, or not traveled at all, we’re completely experimental. But we will do it in a very communicative fashion and make sure that everybody kind of understands. And I don’t know, Beach, how comfortable you are about talking a little bit about some of the upcoming roadmap or anything like that. I know we’ve got about 100 people on. Wow, 133 people, you guys are awesome. And I think we’ve been talking here for a good 45 minutes or so. So if there’s anything that we want to… Any alpha that we want to drop or anything like that, just to kind of totally put you on the spot unprompted. I have some ideas, but if there’s stuff that you want to share, I think now is a good time for it.
Awesome, thanks. There’s nothing like your boss telling you that it’s time to talk.
Levana Protocol 55:33
Oh yeah, right. This is the first time that she’s ever used that word before. As if.
As if. All right, well, [chuckle] let’s see. Nobody here wants to know about the Faction Wars. So I definitely don’t want to be talking about that. And nobody cares about additional NFTs, so I don’t think I can talk about that. So let’s think what should we talk about? I don’t think anyone noticed that we dropped a blog today about the PDAs, and there was no new artwork or anything. So probably nobody noticed that. And there is a promise of an Arach Attack later on this week. So if anybody would like more details about that, I guess I could speak about that. But I’m not seeing anyone with hands up or questions. And then there’s, of course, a Battle of Melas Chasma, which is coming up. And we have some really fun stuff planned that… I think that the community would just continued to expect that we’re going to push all the boundaries, and we’re gonna try to test out environments that we think are both useful for the Terra community and also useful for our community. A lot of people got frustrated about testnet. And wondered why we had dev on testnet and not on mainnet, and why didn’t we just give out more NFTs. And for the devs, I think our goal there was to really make sure that people understood a little bit better the innards of Terra, and I think can even speak for myself as somebody that’s had a Terra wallet for a long time, I don’t spend that much time on testnet. When we do product launches, so we always test in testnet first, but I can’t say that I’ve ever spent hours on testnet before, and really played around with every single way to connect a wallet and how to switch back and forth on multiple machines. And I feel like I can definitely say for myself that the Dragon Card trading forced me to spend hours and hours on testnet. And that now I feel much more comfortable there.
So that was our goal. I hope that other people also now feel comfortable with testnet and got a little bit deeper into the innards of Terra. And I think what you were talking about before, we’ve learned about rate limiting, we’ve learned about node issues, we’ve learned about network load balancing, we’ve learned all sorts of things, because we really want to make sure that that experience is the best that we can possibly make it. When we looked at a 44-hour Meteor Shower, we tested so many different things. And of course, there were scenarios that we didn’t test for and things that we didn’t account for. And within, I think the first seven hours, already there were incredible dashboards that went up and people were doing data analysis that we hadn’t thought of before. And we did put up our own telescope, but it took us a few hours to respond to the community. But the goal was never to obfuscate anything, it was just that we hadn’t thought about that data being useful.
So getting feedback about the Faction Wars and hearing what the community thinks about the games that we’ve already introduced. And also, what they’d like to look for… Or what they’re looking for in the future, I do like to always reference that quote from Henry Ford, which is that if he had asked people what they were looking for, they would have asked for faster horses. So the goal here is not to give everybody faster horses, the goal, right, is to think about what’s the next thing that we can do. So we did already obviously mint the first game ever on testnet, we’re gonna do something radically different next time. So the Battle of Melas Chasma is going to be something totally different, I think, than has ever been done before. But if the community has ideas and thoughts around other parts or other things they expected to see in the Faction War that we haven’t delivered. I’d love to hear about that. So if anybody has any thoughts or comments or things that you’ve loved about the Faction…
Levana Protocol 59:15
I don’t know. I don’t hear you anymore.
Oh, whoops. Okay.
Levana Protocol 59:20
I don’t know where I dropped out there.
Levana Protocol 59:24
If anybody has any questions about the Battle.
Oh, anyone has any questions about the Battle or questions about why we made certain decisions, I’d be happy to talk about that. And we do always try to think about the community and try to anticipate what the community is looking for and of interest but obviously sometimes we get it right, and sometimes we get it wrong. We do our best.
Levana Protocol 59:43
So I want to touch base, to double click, on the Arachs. So the Arachs in the mythology… What we’ve created for Levana is a world. So it’s a world that’s very similar to our world, it’s a world with an oppressive government, that in their eyes they are the good guys, but not everybody feels that way. They control the money, they control what food that you eat, what your education is, what you have to put on your face, things like that. There’s already been people that have woken up and left them. There’s a break between the people that previously were their strong arms, and those that don’t want to do their fights anymore. And then there’s the general population, which is kind of treated almost like a pawn. So we took a lot of these elements, which… And I believe that storytelling is the best way to put a mirror up onto reality. And so we wanted to make a world that was believable, that that kids would dress up for Halloween someday or Comic Cons, that they could make a ride at at Universal Studios themed like this.
Levana Protocol 1:00:17
And so it’s got to have believable creatures. And so the giant spiders, there’s a number of different types of giant spiders. So they’re in the family of Arachs, they were brought to Mars by the original scientists that built the original domes, that predated the residential or commercial space travel to Mars. So roughly 400 years ago in the story. The story takes place about 1,000 years in the future, so bout 400 years prior to that. So it’s been almost like a meme, but we’re very excited to really tell the story of the creation of these giant beasts, and how they were actually critical to the sustainability of the Free Martian culture, and kind of what the analogy and what they are as a creature, because I believe that they’re such a powerful creature. And so we’re just excited to keep emphasizing the spiders, as kind of the other side of the coin to the dragons. And so they’ll be one of the characters, and a villain, albeit, but they will play a role in one of the next mini games that we come out with.
I just remembered some major alpha for anyone that is still listening that I think that we should talk about. So until now, let’s say that we’ve discovered one type of dragon, the Western dragon. And we have hinted at what the possibilities are for customization. We’ve talked about eye color, we’ve talked about horns, but Levana has never been a project that does things that other projects do. And so while normally there’s one body type or one shape, in a project, in an NFT collection, I wouldn’t assume that is the way that Levana’s 8888 dragons are. And I think that in the recent sneak peeks, you can see that there are different shapes, there’s different types of dragons, and there’s a whole discovery around that that’s going to happen over the next six or so weeks, and I’m really excited to see how that all plays out.
Levana Protocol 1:03:48
That’s great. And we also… If you haven’t read our blog post, which was released on November 29th, of why dragons, I highly recommend that. Then you’ll even see in that post hints as to when we think of dragons, what are the dragons represent, and what are the different types of dragons that pervade human psyche and mythology. So it’s, again, these things… It takes time to build something fun and amazing. And so we take the long play. There’s stuff that we’re planting today, which is designed to come to market in a year from now. So that’s exciting. So I think that we’ve covered all the topics that we wanted to cover. This was super fun. It was great for everybody… I’m very appreciative of everybody that came up and contributed. There was a lot of good thoughts that were here. So we’ll pause before we disconnect. Just in case anybody wants to answer any questions, but if you missed some of it, we want to go through here is that, number one, we’re super bullish on Mars, very big believers in the protocol and the long term longevity and success there. We did learn a lot from the Mars and Astroport launch, the user satisfaction, community satisfaction, and minimizing out-of-the-gate volatility are things that are major concerns for us.
Levana Protocol 1:05:31
We have to balance between creating something that will attract a lot of institutional capital, versus creating something that will have a wide distribution of token ownership. Those we believe are diametrically opposed influences that you have. You either build something that attracts whales, and so then therefore, you get massive amounts of locked capital, but then the whales own half the tokens. Or you build something that is designed to be grassroots and to grow more organically, and then you can broadly distribute it. So there’s got to be a middle ground there. And so that’s what we’re looking at, and if you’re not involved in our Discord, where we have polls a few times a week, where we ask the community to vote on their opinions, and we take the results of those polls very seriously, so please get involved there. The Faction Wars had over 4,500 participants. So it’s the largest game experience on Terra to date. Today we’ve had seven different blockchain experiences, games, interactivities released to date, with no major hiccups. And so we want to keep that track record up as much as possible. So that does mean that we will need to slowdown the upcoming token launch, which was originally scheduled for later this month. And so, we want to make sure that when we come to market with it, that we do it in the right way, with the right intentions. And having learned from great projects that have come before us in these last few months.
Levana Protocol 1:07:34
And then the PDAs, the new article is out. So you should definitely go and read that. Hold on to your PDA. I know it’s fun when you get something for free to just flip it. But we’re giving you stuff because we want you to share in the experiences that we’re building, and network congestion is a big headache, and it’s not a solved technical problem today on Terra, but there’s definitely things that we’re confident that we can do proactively, to help alleviate the pain that the general consumer faces. We don’t want to be in a position where somebody needs to be comfortable dealing with smart contracts in order to be able to interact with Levana. We want it to be able to be in the land of the consumer and retail. And that’s what we’re really focused on committing to you guys. Because without you guys, we’re nothing. And I think that’s it. If anybody else has anything that they want to share as closing remarks, feel free to jump in.
I have a question.
Levana Protocol 1:08:51
Yep. Go for it.
Yeah. First of all, I really love this with the testnet because it was something completely new, and I love to share and I love the community. I’m a Guardian, by the way. [chuckle] Yeah, go Guardians. And I really love it. It was not easy in the beginning. But once I found out how it works, it was really nice. But what about the PDA, that’s my question. Is it possible because I tried to bring my brother in the game and he came after the first card game was over. And now is it still possible to get the PDA for him?
Levana Protocol 1:09:36
Yes, so he beats… Yeah, go ahead, Beach.
I’m sorry. So the card game and the PDA are not linked. The way that you get a PDA is actually by playing the Discord Salim’s Meteor Hunter game. And so if he stakes his talisman and play that game, then he will get a PDA by finishing, by completing. We will do multiple mints of the PDAs. So anyone that has staked his talisman and played that game will get a PDA. And obviously, they have different… if you noticed in the PDA, so there’s Premier level, and then there’s Members, and then there’s the third party NFTs that joined us. So those are marked in the PDAs themselves. But as long as you have a staked talisman, then you can get one PDA per staked talisman. So you need a Discord account, a staked talisman to play Salim’s Meteor Hunter in the Discord, and the PDA will be yours. I think we’ll probably try to mint once a week there. Jonathan, you mentioned that we’ve done seven essential launches. So we’ve actually minted 115,000, NFTs. [chuckle] So I don’t know if anyone recognizes with, essentially, seven different unique collections, and different artwork. A lot of people have asked why we invested so much in meteors when we knew that they were going to get cracked and thrown away. And the reason is because that experience for us, this evolutionary NFTs that we pioneered, we wanted you to really experience and feel that evolution with us. And I think that as we go through genetic modifications, and then eventually to hatching, that as much as it might be a pfp that’s sitting in your wallet, it’s still an experience that you’re having with us. And those NFTs feel real enough that you can pick it up and reach through your screen and grab it.
Okay, nice. Another thing, did you… Because today was an AMA with LUNart. And they they do something where you can have your NFT in the future as a real picture. I just wanted to ask if you thought about maybe that that could be a realistic idea with the dragons.
So our dragons are actually full 3D models. And you will be able to print an egg, a dragon, in a full 3D model and not just a picture.
Levana Protocol 1:12:13
There’s the rig also. I don’t know if that means anything to you. But these things can… They can walk, they can smile, they can blink. So it’s again, we’re trying to do something that nobody else has ever done before. We want to see dragons that become assets that unity developers will be able to create unique experiences with, that 3D animators will be able to create unique experiences with, that will be the basis for interactive experiences that go way beyond viewing them on RandomEarth or Luart or somewhere else like that.
Wow. Nice. Really nice. And the last question, sorry, somebody else is able to ask. I remember when you said there that the story will… You will have the book. Is there any possibility in the future to get one of those?
Levana Protocol 1:13:19
Yes, we will be… First of all, the book will be an NFT there will be a printed, hardcover and paperback version of it. It’s actually a trilogy, is what we wrote. The first book is… We are up to I think chapter… Maybe chapter 7 out of 30 of the first book is fully written. And then the graphic novel, the prologue, and chapter 1 have been… All the staging for it, the camera angles and the script was written from the actual book. Our real vision is a Netflix miniseries, so we’re taking it as a process. So it’ll start as an NFT book, which there’ll be quests in order to unlock that. And then it will go to a printed book that you’ll be able to actually just get on Amazon. And then you’ll be able to read the comic book, the full blown graphic novel, and then please God someday, you will be able to actually just watch it on television through your Netflix account or equivalent streaming service, maybe even a decentralized streaming service. And the reason there is that we believe that the morals, the underlying narrative of Levana is the rally cry of of why crypto is important. The dragons are a metaphor for cryptocurrency. And when the dragons came to Mars, they disrupted the political landscape in the very similar way as to what crypto is doing, how it’s impacting the current nation states in the world. So the way that we feel that is best to share this narrative to hundreds of millions of people is to turn it into something that is very easily consumed. And because it’s heavily branded as Terra, the population is called Terrans. The magic orbs are called Luna Orbs. So our goal is to bring a massive amount of eyeballs to the Terra ecosystem, through the success of Levana as a media entity.
Wow, I’m totally impressed. But I heard about this vision of you before. And I think that’s really amazing. And my first thought was, as well to say it could be a movie. Yeah, but going to a Netflix series, well, really nice. I can’t wait for it actually.
Levana Protocol 1:16:25
Yeah, it’s gonna take years to… Everything that we have in our heads is going to take years to execute. But again, that’s the timeframe that we’re looking at for real success here. And it’s not years like some projects, where they raise a bunch of money, and then they go into a bunker, and then they pop out a couple years later with with something that delivers on 10% of the original marketing vision. We want to continuously ship in piecemeal, with community feedback, this larger vision of entertainment driven, decentralized finance, with the clearly stated goal to bring 100 million people to the Terra ecosystem.
Jonathan, I just wanted to add to that. We’ve talked a lot about the numbers here, and people hear “100 million people to Terra”, and they say, “That’s impossible, it’s never gonna happen.” But I think it’s important to just look at those numbers of the amount of people that have gotten into DeFi over the last 12 months, versus the amount of people that have gotten NFTs. And the reason that we have decided to go the entertainment, or the DeFi-tainment route, is exactly because DeFi is sometimes intimidating, and scary and overwhelming for many people. And so to really aim for and be realistic about bringing 100 million people into this space, we have to chunk it up into smaller pieces and absorbable content, and it has to be understandable to the masses. And we think the best way to do that is via media and content, and storytelling and adventure. Look at the success of visual stories and visual language versus just text. And so when you look at a financial chart, that can be really overwhelming for people, but if you look at a dragon flying on the perpetual swap skies, that is something a little bit different. And so this is the avenue that we think is going to have the most success in bringing the most people into this ecosystem and to DeFi financial freedom.
Levana Protocol 1:18:40
I see you there, Harry, you sat on here the whole time, and you didn’t even say hi. But it’s okay. We still love you. So, yeah, there’s a couple friendlies out here still in the audience that made it to the end. So thank you guys all for participating. And I think with that, we’ll call it a night. All right. Thanks, everybody. We’ll try and do this more frequently. We were going to do this on Discord, but I see that there’s need to focus on Twitter as well. Alright, so have a good morning. Have a good afternoon. Have a good night. Who knows, we’re probably all over the world here. But this was a lot of fun and I hope you guys enjoyed it. And feel free to like and retweet the stream so that people who weren’t in the right time zone to listen to this, we’ll be able to listen as well. And if you… In terms of media content, please go to our YouTube. You can just find it by going to YouTube and typing in Levana Protocol. We have a 15 minute compilation of all of the content that we’ve produced over the last four months and, man, the video guys I’m so impressed with them that it takes… To produce 15 minutes, and it really is like a skunkwork side project in four months, is amazing. And all right. Thank you, everybody. Have a good planet Earth time something.
Thanks for checking out another episode of The Ether. That was the Levana AMA Faction Wars, PDAs, Token Launches, and more. Recorded from their Discord server on Tuesday, March 8th 2022. This episode of The Ether was brought to you by Luart. Luart is the first gamified NFT platform built on the Terra network. Luart provides a seamless minting and trading experience all while earning you rewards just for being a user. Be sure to follow them on Twitter and join the community in the Discord server for the most up to date news and announcements regarding all the hot new NFT launches, platform upgrades, and new projects hitting the secondary marketplace. Are you ready to #PutYourHelmetOn and join the movement? Find out more at luart.io. This episode of The Ether was also brought to you by WeFund. WeFund is a community crowdfunding cross-chain incubator on Terra and it’s the first launchpad that implements a milestone funding release system to protect investors. All money raised for projects is deposited in Anchor Protocol and it’s refundable, and all decisions are based on community voting power. WeFund is community focused and designed to be a user friendly experience for both project creators and investors. Be sure to follow them on Twitter and join the Telegram for more information links are in the show notes and check them out online at wefund.app. This episode of The Ether was also brought to you by Glow Yield. Glow Yield is the ecosystem of Terra decentralized apps like Lotto and Creators, all powered by DeFi yields. Glow Creators helps artists and influencers give their fans exclusive perks through membership NFTs and more. Glow Lotto is a price link savings account with a weekly chance to win the big jackpot. Tickets are free and perpetual which means there’s zero chance to lose money. Be sure to follow Glow Yield on Twitter and join the Discord community to stay up to date with all the glowing projects and check them out online at glowyield.com. TerraSpaces appreciates the support from all our sponsors. For terraspaces.org, I’m Finn. Thanks for listening.