Hello and welcome to The Ether. Today is Tuesday, February 22nd 2022. This episode of The Ether is 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 luart.io. 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 stacking 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 we have the Suberra Protocol AMA and Updates hosted by Orbital Command. Let’s take a listen.
Dr. Doscoin 2:14
Alright, alright, alright. So we’ll just give everyone a second to come on in. And for anyone who may be tuning in, we’re gonna be talking with Suberra today. Now I’ve got Orbital Command with Zion from Orbital Command, he’s gonna be doing the letting in of the people, and I believe we’ve got Edison is who we’re waiting on now. Can we get Suberra up as well as a… There we go? Suberra has been added as a speaker. And whether or not Edison is running through the Suberra account or he’s coming on separately is yet to be determined. What’s going on here? Suberra, if you can accept that invite you’ll be able to have a conversation with us today. Not sure if you can hear me at the moment, if you can actually hear my voice just give us a little peace sign.
Yeah, we can hear you.
Dr. Doscoin 3:07
Beautiful. Yep. I’m getting a message from Suberra at the moment saying how to accept the invite. Let’s see what’s going on there and why they can’t accept it.
Just make sure that they’re on a mobile device and not on a computer.
Dr. Doscoin 3:19
Yes. Are you on a mobile device, Suberra? That’s actually a really good point.
Suberra Protocol 3:22
Hey, hey, hello.
Dr. Doscoin 3:25
Hey, how you going?
Suberra Protocol 3:26
Hey, yeah, I’m good. How about you?
Dr. Doscoin 3:29
Fantastic. Thank you. Is this Edison?
Suberra Protocol 3:31
Sorry if I’m late, I’m really new to this thing. Yeah, it’s my first time on Twitter Spaces. I was logged on from my desktop, so yeah, you’re right.
Dr. Doscoin 3:43
Yeah, we’ve adapted and overcome. So welcome on your first Twitter Space. We’re honored to have you here. Look, he’s how it’ll work. I’ll just clarify, is it Edison that I’m speaking with now, or is Edison going to be on a separate account?
Suberra Protocol 3:56
Yeah, I’m Edison here.
Dr. Doscoin 3:58
Okay. Wonderful, peasure to meet you, Edison.
Suberra Protocol 4:01
Nice to meet you. Yeah.
Dr. Doscoin 4:02
For everyone that’s tuned in and everyone that’s yet to tune in, this is how it’s going to roll. We had a brief introduction just now. We’re going to go through some questions and some conversation, get to know a bit about Suberra, the history of them, what they’re up to, what’s making headlines, behind the scenes, and then once I’ve finished sort of my line of questions, we’ll open up the floor and anyone who is wanting to ask some questions of their own they are free to do so. Of course, this Space is hosted by Orbital Command and is recorded by none other than TerraSpaces, so shout out to those guys. Now let’s dive straight into it, Edison. First and foremost, where abouts in the world are you? Where are you calling in from today?
Suberra Protocol 4:46
I’m calling from Singapore.
Dr. Doscoin 4:48
Fantastic. And the time in Singapore is…?
Suberra Protocol 4:52
It’s currently 10AM right now.
Dr. Doscoin 4:53
Okay. Cool. Still early days for you.
Suberra Protocol 4:55
Dr. Doscoin 4:55
Well, look mate, I appreciate you jumping on the call as I did say. What I’d love to do is find out, obviously, you seem to be the captain of this ship that is Suberra. I would love to know how Suberra got started. Tell us a bit about the history of Suberra and what inspired it, please?
Suberra Protocol 5:14
Oh, sure. So just an introduction to myself, my name is Edison. Previously I was in crypto spaces since 2018, previously I was in the early team in Zilliqa. So in case you guys don’t know, Zilliqa is a high throughput blockchain, it’s like an alternative layer one. So I was there very early, like 2018. I joined right after grad school. Then I was working there as a software engineer for close to three years. And one day we just started to… like Terra. And then in May last year, so it was May 2021, we took part in a hackathon that was organized by Delphi and IDEO, which is… I mean, it is based on Terra. So we came in third place during then. So initially we were like, “Okay, that’s cool. We won third prize.” We never really thought so much about making this to a full protocol per se, but I think ultimately under the advice and speaking to Delphi, we were convinced that this is a great idea. And me and my co-founder decided to leave our full time job to work on Suberra starting from September. Yeah. So that’s all sorry. Yeah.
Dr. Doscoin 6:32
Fantastic. And so when you’re saying, “We entered the hackathon,” how many of you were working on this at that point in time?
Suberra Protocol 6:40
At that point of time, there were four of us in the hackathon. But it’s only me and Zack that left to do Suberra full time. The other two of them, they left to do their own things.
Dr. Doscoin 6:51
Gotcha. And so since then, that was September, how many have we got on the team now? What’s the team look like?
Dr. Doscoin 6:57
Yeah. So since September, we really went full time with Suberra and then we hired another three more people in the team. So currently, we are a team of five of us. We have a part time designer on our team as well. So currently, it’s like five and a half. Yeah, we are still looking to hire another two more roles in Suberra.
Dr. Doscoin 7:18
Sure. Yeah I did see that on your Twitter there. Well, actually, while we’re on that subject, what are the roles that you’re trying to hire for? Potentially someone that listens to this call might have the skill set that you’re looking for.
Suberra Protocol 7:29
Okay, awesome. Oh, sorry. Just a moment. Yeah. So the first role that we’re hiring for, is a senior backend engineer. So in this case, we’re looking for someone who is a lot more familiar with how to schedule tasks, and basically jobs to run on Suberra. I think I can touch on this point later on about how Suberra works. But we really rely on the automation behind the scenes. So the senior backend engineer is really vital to improve the reliability of our platform to make sure that we charge people on time, on any subscriptions that we can host, right. So that’s kind of the challenge that we are dealing with. Then another hire that we are looking at is a marketing lead. So there’s gonna be… On our team right now is that we are a team of five full time, but including myself, I’m more of a smart contract engineer. So we really don’t have any marketing expertise in-house. And that’s one of the roles that we think that is really important going forward is to get someone who is a lot more experienced and more full time and focused on marketing and growth to join our team. Yep, so those are the roles that we are hiring for.
Dr. Doscoin 8:49
Great, if anyone’s listening that has those skills and has some interest by the end of this call, definitely don’t be a stranger and do reach out to Edison and the team at Suberra. Look, I was playing with Suberra last night, obviously, you’ve just… And congratulations, by the way, I want to say… Acknowledge that in the last few days, you’ve obviously had the announcement of the first fundraise, and I can also say that the testnet is operating at the moment and I was playing with it last night. Really, really fun stuff, it really got my juices flowing, I started thinking at the end of it just how bright the future is looking for DeFi as a whole. And particularly projects such as yourself, which are doing things which kind of take out the manual legwork for people, i.e., paying for subscriptions manually, and setting all that sort of stuff up and paying for it with principle rather than yield. Can you… For anyone that may not actually even know what Suberra is at this point, it’d be great to get some clarity on exactly what it is that you do, the problem you solve, and some use cases.
Suberra Protocol 9:56
Oh yeah, sure. I’m happy to give you guys an introduction to what we do. So Suberra itself is that we think that we can be… I mean, we are trying to be the recurring payments protocol on Terra. So the idea is that we want to allow users to send and receive stablecoins on a recurring basis, right. So, if you think about it in a traditional world of Web 2, we use recurring payment for all kinds of things, your salaries, your subscriptions payment, and also your rent or mortgage, or car loan payments per se. So, we do a lot of these things right now without realizing that. But in web three, a lot of things became a lot more tedious because whenever you want to make a transaction, you have to sign something, right, you required… You have to sign a transaction on Terra to send someone money. So it’s really troublesome for project teams to really just pay people every month for salaries. It’s very tedious for… Let’s say that if you’re trying to subscribe to Nansen, or Delphi, and you have to sign a transaction every month, that’s not going to be a pleasant UX experience. So in Suberra, we try to stop that. First of all, we created the base layer, which is the layer that we can create any recurring payments, right. So it’s not just subscriptions, but you can create your payroll, which I think I’ve shared a screenshot yesterday, you can also do subscriptions payment, which is going live with Delphi in another few weeks time. Yeah, and this is just the beginning. There’s just so many of recurring payments that we can do in the future that we want to empower users. We are talking about dollar cost averaging, we’re talking about things like, perhaps, buy now pay later, where you can pay with installments with Suberra. Yeah, so anyway, the sky’s the limit when it comes to recurring payments, but we just really want to become the pillar and the kind of protocol to empower real life use case for Terra USD.
Dr. Doscoin 12:11
Yeah, gotcha. And so when you’re… There’s a few really exciting things there. And so the first most obvious one is just being able to pay for the subscriptions, let’s say it’s the Spotify, let’s say it’s the Netflix, let’s say it’s your membership to Delphi Digital, or whatever it might be, just setting that up and forgetting about it and having that thing automatically paid for by the yield that the UST is generating sitting in the… I don’t know what you call it, the Subwallet? That’s what it’s called, yeah?
Suberra Protocol 12:41
Dr. Doscoin 12:42
And so that itself is really exciting. But what I didn’t realize until just recently, is this dollar cost averaging into DEXes, or dollar cost averaging into making purchases. Yeah, this dollar cost averaging to DEXes just sounded awesome. So theoretically your yields could be automatically set up to then buy, whatever, LUNA once a week from a DEX.
Suberra Protocol 13:11
Yeah, so this is something that we feel is really cool, basically a DCA strategy, right. So there’s always a saying that says that time in the market is more important than timing the market. For most of us, we probably do not know what is the best time to get into the market. So presumably, let’s say that if I get a big fat bonus at the end of the year, and I want to buy LUNA, maybe people don’t really want to buy in one shot, because they think that what if this is the top, what if it’s going to go lower, so actually I think that retrospectively, I think many people were pretty well off if they do a dollar cost averaging strategy into buying their favorite tokens. So I personally DCA into ASTRO a few weeks back, not doing so great at the moment, but I’m pretty sure that it’s going to get better. But I think that these are just some of the things that we think that recurring payments can be really useful for the DeFi world, because payments… There are still some impediments to that, meaning to say that there isn’t a lot of merchants that really want to accept that at the moment. But in the meantime, we can still have other use case that is very great for recurring payments, because that’s what Suberra is for. After all, Suberra is not just for subscriptions, but we are also for anything that is recurring payment in nature. Yeah. So yeah, anyway, go ahead.
Dr. Doscoin 14:47
Sorry, I was just gonna say, regarding that sort of the last part you said, it’s not just subscriptions, and it’s just not this dollar cost averaging into DEXes, there’s also this sort of peer to peer recurring payments or bankroll, paying staff… Payroll, sorry, paying staff members. And there’s an option to pay on that at the moment already on the testnet. From what I’ve noticed is as the user, if I’m setting it up, setting up my own automatic payroll payments, there’s the option to set up per individual, is it going to be a way… I imagine, the answer is probably yes, but is it going to be a way in the near future where you can batch those? So you’re an employer, and you might have 20 employees who are all in the same salary, you can kind of batch them so that it’s a little less fiddly?
Suberra Protocol 15:37
So currently, I think right now we don’t… I mean, we are just really exploring the possibility of setting up recurring payments. As far as I know, I mean, if you’re in a team of less than 10 people, the operational headache of doing the kind of setting the peer to peer recurring payments is not that difficult. I was setting up for my team on our prototype as well. It wasn’t really hard, I just need to create maybe… For a team of five of us, we just set up five recurring payments from a Suberra account. And it’s really easy, I can set it up in less than two minutes. So I think that this is… And the cool thing is that once you set it up, it can go on for perpetuity, so that every month I do not miss any payroll. So in this case, I think, for me personally, I mean, to be honest, I have not really seen why we need to batch the transactions together, because Suberra can already do that recurring payment. Batching transactions is maybe useful for teams that… Or for protocols that do not have the ability to do recurring payments. Because what usually happens is that someone will use an application like disperse.app to pay a bunch of ten addresses, any stablecoins, in one go. So that’s what batch transactions are for. But in our case, because we already can kind of set that up on a recurring basis, we can just let it run. So in fact, we are also more powerful than batch transactions, because we can set it at different day. So maybe, let’s say that if I joined the first day of the month, I can get paid on the first day of the month, but if someone joins on the 15th day, halfway through, then his payroll will start on the 15th of the month. So in that case, I think that is maybe more customized by different users. But we’ll see. Yeah, I’m really excited to hear what other protocols think about payroll. Because for us, we created a product that works for us, but we are happy to hear what you guys think as well.
Dr. Doscoin 17:45
Yeah, 100%. And that’s the way it works. Obviously, everyone has a vision of how they want their project or product to work. And of course, the market has wants, needs, desires, demands, and so suggestions will inevitably pop up. And perhaps there’ll be minor pivots and things of that nature, but the core product at the moment, I think is actually really cool. And you did put a post up yesterday saying that you had, I think, 585 people jump on, around at that number, to start testing it out already. When you sort of look at the way this is rolling out over the next few weeks, months, quarter, whatever it is, what’s the roadmap kind of look like? And how long till we get this on the mainnet?
Suberra Protocol 18:25
Okay, so in fact right now we have been in the final stages of the contract audits. So we have already done one round with them. They have gotten back with some reports, but we have to finish those at the moment. So once those are finished, we can look into maybe launching in 2-3 weeks time. And another thing that we are working on is just final preparations with Delphi, to measure that… I mean, we are putting a small program to get people to convert from credit cards to use at Suberra instead. So we think this is going to be huge, because Delphi has a lot of subscribers count. So if people are switchover from credit cards to Suberra, then there’s some small promotion going on. So in fact for the launch, we think that for Delphi, they’re happy to give people 50% of the first month of subscription if they pay with Suberra. So it is really quite substantial that for a monthly subscription of $1,000, you just pay $500 in the first month, and $1,000 subsequently. I know it’s a lot of money but for the quality of the reports that the Delphi writes, I think it’s worth the money. So I think that if you’re interested in Delphi, you can check it out when we launch.
Dr. Doscoin 19:41
Yeah, that’s great of them to put that on the board. And I imagine that we have plenty of other services that are relevant to the Terra ecosystem, which will volunteer to do something similar. And I guess that actually probably brings me to my next question, which is around the adoption. This success of Suberra is heavily contingent upon the adoption and willingness for businesses to accept UST. Do you guys have anything in place to incentivize businesses to transition from what they’re doing currently, what they familiar with, to perhaps working with Suberra having UST as payment? How do you see this kind of playing out?
Suberra Protocol 20:26
Okay, so the way that we see this playing out is that first of all, Suberra is a… We’re looking at all kinds of things that are recurring payments. So and this includes things like… I would think that there are three main pillars that power Suberra’s growth, the first one is the obvious one, which is the subscriptions, the one that you talked about. So in our case, we are targeting the crypto native merchants initially, which are companies like Delphi, and Nansen, and so you get an idea. Basically, merchants who are already accepting stablecoins, maybe through Coinbase commerce, but they want a better way of receiving memberships and subscriptions payment. So in this case, our current efforts are really focused on getting them on board. And I’ve been also actively reaching out to some of them, to get them to accept Terra USD. So this is ongoing. For the merchants, the benefit for them first of all, is that we do a lot of integration work to make sure that we can integrate at ease, that there isn’t any kind of bugs and maybe missing payments, things like that.
Suberra Protocol 21:43
And secondly is that they also get basically free transactions at the moment, because at Suberra we basically pay for the transactions if they are in for a limited time period. So rather than giving 3%-7% like PayPal, or like Stripe, they can save the money so they can basically… I mean, their profit margins are a lot higher in that sense. But for let’s say any traditional merchants who did not yet accept stablecoins, I’m afraid is a lot more challenging. It’s gonna take a while to get them to be onboard, because it’s not just technology in that sense, it’s regulatory, it’s maybe about how they want to record things on their books. And that’s something that we feel is not going to be a priority at the moment. But we’re definitely looking at different ways to bridge them across, maybe through off-ramp partners like Kado. So we are currently speaking to Kado and we have a partnership with them to maybe use their off-ramp eventually for US based merchants. But for merchants who are not in US, then we’re looking at other off-ramp partners that could be helpful for bridging them across. So that will be for the first pillar of that subscriptions part.
Suberra Protocol 23:06
The other pillar is the payroll side, so any P2P recurring payments. We think that because right now there is a very obvious gap in Terra that we have 100+ projects in Terra, I would think that maybe half of them is paying people in UST every month. But currently, I was just trying to survey in the Terra ecosystem chat, a lot of them are just paying, maybe they just set up a reminder to pay people in one go every month. And they know that this is an operational headache. We’re trying to get them converted to use Suberra instead. So once you use Suberra to pay payroll, then it really automates the actions so that teams can focus on building great products like Terra ecosystem. Then finally is that we are actively looking to DeFi strategies, so DCAs and then maybe potentially integrating with Nebula clusters to get people exposed to index of funds. So that’s ongoing at the moment. We are really excited to see how normal users can use Suberra to do any DeFi strategies and maybe just to automate that. Yeah. So those are three ways that Suberra is going to grow in the next few months.
Dr. Doscoin 24:25
Yeah, I love that. And so when you’re… The thing that really caught my ear then was when you mentioned the Kado integration. And so in theory, would this mean that… ‘Cause Kado will serve as an on-ramp, and I think eventually an off-ramp as well for USD to UST, would that theoretically mean that people could just make their… So they’ve got a Kado membership, they could set up a subscription which would pay in USD, it automatically converts to UST, and then does all that on the back end for them?
Suberra Protocol 25:01
Yeah, so Kado is really cool. I mean that Kado’s business is very cool because they allow… I mean, the first kind of spotlight in Terra is that you can pay for Amazon purchases with UST, and behind the scenes, what Kado really do is that they kind of get it converted into USD and then handle the off-ramp for you. As a user, you do not see the work the Kado team has been putting on behind the scenes, but they are doing great work in terms of off-ramping UST to USD. So I think on a similar ground, because they already have the off-ramp integrations there, we are really looking at if there’s any US merchants who wants to maybe integrate Suberra but do not want to accept UST, we can work out some new… With Kado so that we can get USD in their bank account easily. So that’s something that we can discuss if any merchants on the call is keen. But yeah, I mean, this will be the response that we will be going for if any merchants was coming for the more traditional… Wants to use Suberra for their payments.
Dr. Doscoin 26:17
Got it. And so the other thing I’m still wrapping my head around, of course there’s two sides of it, you’ve got your senders, you got your receivers. And so as a general user, for say, myself, if I’m going to use it, I’m going to use it as the purchaser, the sender. I’ll set up my recurring payments to Spotify, or Netflix, or Delphi, or whatever it ends up being. On their end, what’s happening? Do they just need to… Is it like an API that they just have on their website or how does it work for them?
Suberra Protocol 26:48
Dr. Doscoin 28:06
100%. And if that’s the thing that you… If you get that right, that’s what makes the process of adoption much easier. It’s the ease of access and the ease of use. People want a really seamless experience on both ends, as the sender and the receiver. So when you’re able to, as I’m sure you will figure it out, make that process as easy as possible for a business to have that setup. But yeah, it brings me a lot of hope for the adoption of this. So I’m really excited for that. I do have questions about the wallet too. So with this Subwallet, is this something that is only available specifically through suberra.io or is this Subwallet also something that’s going to be integrated into other wallets? Like will there be a feature that can be added into an XDEFI wallet or Liquality wallet? Is this something that would work that way or is it specifically through the website?
Suberra Protocol 29:03
Alright, so let me just explain what is Subwallet in that sense for the audience on the call. So when you think about your Terra Station or your Ledger, that’s what people think about as your wallet. It is true because that is the wallet that you control directly with your private keys. In Suberra we create this thing called a Subwallet. So Subwallet means… Tou can think of it like a sub account. What we want to kind of emulate is that… For the US audience on this call, it’s like your checking account. We want to create this separation from your main funds so that you can put the money that you want to spend on everyday payments. Because sometimes let’s say that if you have your life savings on Terra, then you might not really want to give so much permission to that main funds. And that’s alright because you can create a Subwallet, which is like a separated smart contract on Terra that basically can store funds. The way that it works is that smart contracts can store funds like any other wallets. So you can think of it like maybe a Gnosis multi signature wallet, or maybe like Argent instead. So they are all smart contract wallets on Ethereum. But for our case is that we created a similar thing on Terra that will basically store the funds and is controlled entirely by the owner. So that in this case, you can use it like your checking account. Maybe for the UK audience, like your Revolut card, just top up just enough to pay for your subscriptions. You don’t have to put your life savings on it. So this will give you the assurance that your main funds and your main savings does not get depleted with merchants. So it creates a nice separation. Because this is not technically a private key wallet, it’s a smart contract. So we are looking at integration with XDEFI at the moment. So if XDEFI has something in the works that they want to integrate a lot of applications on Terra onto their wallet so that you can access them all from one place. So there are some talks about integrating that with XDEFI in the future. But at the moment, Subwallet is only available on suberra.io. So yeah, I hope that answers the question.
Dr. Doscoin 31:34
Yeah, it does, that clears it up a lot for me, actually, thank you for that. And I’m just wondering as well, as far as… And we’re dealing with smart contracts every day, and there’s always smart contract risks you’ve got to consider. As far as someone was to want to use insurance in conjunction with this, how would they go about doing that?
Suberra Protocol 31:54
Ah, okay. So we take security really seriously in the team. So the Subwallet was a standard from a CW1 contract created by the CosmWasm team. So CosmWasm, in case you guys do not know, they are the guys behind the entire smart contract language on Terra. So they have created some standards for common use case and CW1 is one of the things that we feel is similar to what we are trying to achieve. So we have taken a standard from that standard to create a wallet that we need for Suberra. Secondly is that we have already done a lot of testing on Suberra account. And we are also sending for our contract audits. So even though contract audits are still ongoing, but there hasn’t been major security risk with Suberra accounts. So it’s currently being audited by Oak Security. And along the way if we see any potential issues with the Suberra account, we are happy to give rewards to people who find a bug with the Suberra account. So yeah, so I hope that addressed the part about security of the funds, because we know that it’s really important for the users. But for insurance case, we do not have insurance for Suberra account at the moment. But it’s something that we are eager to explore maybe with insurance protocols that will be launching on Terra soon.
Dr. Doscoin 33:29
Yeah, that’s great. Thanks for that. So I’m just thinking obviously, the main ones that come to mind is Rish Harbor, who I’m trying to get them on the show at the moment, but I’m having a bit of trouble getting a response, so hopefully, Risk Harbor, if you’re listening, you can come and join us soon and explain how you might be able to assist with things happening on Suberra. But I’m curious to know, I’ve got this screen in front of me at the moment. And I’ve put in 2,500 testnet dollars, not real UST, and it says your monthly earnings are, whatever, $37. And the imaginary or the hypothetical subscription is, say, $30 bucks a month, so it covers that. And then of course there’s the $7 extra that’s being generated there. At the moment this is running through… It will be running through Anchor as what’s essentially the yield generating strategy happening in the background. Is that going to be the only yield generating strategy for Suberra or are there going to be other options? What’s that gonna potentially look like?
Suberra Protocol 34:33
So that is currently the only yield generation strategy on Suberra because we have not really found any other things that are maybe less risky. I mean, basically Anchor yields are the most… I think we’ll consider it to be pretty safe. It has been robust for the past close to a year now. So yeah, that’s the only yield strategy that we have on Suberra at the moment.
Dr. Doscoin 35:03
Okay, yeah. Fair enough. That makes sense. Are there any other protocols that make sense for you as far as… That Suberra would benefit the most, or that would integrate well with Suberra that we haven’t actually spoken about yet?
Suberra Protocol 35:20
So I think that with regards to Terra projects, specifically, I’m kind of very interested in the DeFi space, which is the DCA with Astroport, which is a given, we’ll work on that in the coming months with the Astroport team. Then there’s also Nebula. So Nebula is another one that is really interesting, because if you think about it, money in Suberra is already on Anchor. So that’s already earning yields for you along the way. But what if you can also put that into a Nebula cluster to earn additional yields on top of that? If you DCA into not a LUNA token, but on the Nebula cluster, so this would be a kind of a few things that I am personally looking forward to, which will be great for users, I think.
Dr. Doscoin 36:17
Yeah. Cool. That makes sense, too. Right. Okay, this is all very exciting. I’m just thinking, before I pass the mic over to the people on the floor, I do probably have one or two more questions that are kind of just here in the back of my mind. The way that subscriptions typically work in the real world, so I think about if I have a subscription for… I’ve got one for Blinkist, which is like a book reading app, and so I remember I wasn’t using it for ages and then obviously, I called them up to cancel it and because it’s a yearly subscription, it comes out and then of course, I wanted to have that payment reversed. How would customers… How does canceling subscriptions and customer support work with Suberra? Is that even an option?
Suberra Protocol 37:08
Oh, yeah, so think the benefit of Web 3 is that as a user you get really full control over your funds. So if you check out, say on suberra.io and you try our application, if you subscirbe to any service, and you want to terminate at any point of time, you can cancel that on our front end directly without going to the merchant. And that’s really cool. Because I mean, I have the same pain point, right. I subscribe to a lot of random things on the planet. And just one day, you realize that, “Hey, why am I spending so much money on subscriptions?” And you have to look through your credit card statements and find the right item and call the customer support to cancel that. And it’s really disgusting that some merchants on the Web 2, they do not have the cancellation button. So they make you go through the tedious process of calling their customer support to cancel that. In Suberra’s case, we do not want to replicate that kind of experience on the Web 3 users. So because every authorization is controlled by the users, so you can cancel that on Suberra anytime. And there’s nothing that can stop you from that. A merchant can’t make things more difficult for you to cancel it. Because you can just revoke the access to your Suberra account. So you can think of your Subwallet as a credit card that you control who gets access to your funds, you control the authorization limit to the money. And you can even control how much is the maximum that they can charge your account every month. So that’s kind of cool. And then I think that is also different from the Web 2 world, where you have to call a customer support for that. Yeah. But if there’s any issues about your subscription, so let’s say that if you’re trying to upgrade your subscriptions, and maybe the access has not really happen on the merchant platform, the customer support is still with the merchants because they have a lot of control on accessing the platform, which in Suberra we do not control. So we are purely like a payment processor behind the scenes.
Dr. Doscoin 39:26
Yeah, got it. Okay. So ultimately, the user has all the control because they are the ones who got their funds in their Subwallet, and the Subwallets already received the signature and signed off and what’s going to happen over the next coming months or years. But ultimately, that’s all proactive, it’s not retroactive, you can’t go and get a refund. So much in the same way with crypto you can’t… If you sent your funds to the wrong wallet, you’re not going to go and get them back more often than not.
Suberra Protocol 39:51
Dr. Doscoin 39:52
Okay, cool. What I’ll do is… That has satiated my desire at the moment, or my questions that I have I’ve. How about I open the floor up and I just say anyone that is currently listening to this that may want to jump up, ask some questions to Edison while we’ve got him on the call here, you’re most welcome to put your hand up and you are exactly invited to do so. I can see some pretty bright lines on the call. And while that’s happening, if there’s anyone that wants to jump up, you were saying that it could be what just a few weeks away before the mainnet goes live. I think the biggest… Oh, here we go. I might actually pause that question. I can see Cephii just jumped in here. Let’s go Cephii, go for it when you’re ready, mate.
Hey, guys. Quick question. Now I’m kind of late because I was kind of busy. But do we have any idea what kind of merchants at this point have expressed interest? And is Suberra planning on approaching certain types of merchants in traditional realms to try to spur adoption, or what’s the story there?
Suberra Protocol 41:02
Oh, okay. So at launch, you can subscribe to Delphi. So Delphi Insights and Delphi Pro will be available for subscriptions when we go live. If you subscribe with Suberra, you can get 50% off the first month. So that will be the biggest merchant that we have at the moment. Other merchants that we are integrating right now are companies Nansen, trying to get them onboard with Terra. Then there’s also the Coinhall and Ape Board, they have some kind of idea of a subscription on our form. There are also other smaller content creators that are coming up. So there could be people who are doing Discord moderation services, or it could be people who are doing like… Pay Discord groups with users. So those would be some smaller merchants that are interested to use our platform when we go live. With regards to future maybe traditional merchants that we want to get onboard, we are still trying to get on board some way of subscribing to Netflix and Spotify, because we know that these are the things that a lot of users use. But the challenge there is that it might be quite challenging to get them to accept UST at the moment. So we have been trying to work out some other off-ramp method that maybe it’s through Terra cards, or maybe it’s through Kado Pay. Long story short, we just want to get them the access to the subscription via Netflix or Spotify. And that’s something we’ll be actively working on.
Dr. Doscoin 42:42
Yeah, I can see that… If that answers your question, Cephii. Does that answer your question, Cephii?
Yeah, I think so. I don’t know if you guys covered this already. But if I have a business, and I want to accept Suberra there in the form of UST, is there a fairly simple way to add it to, let’s say, my website, or to create a page with a link, say for example, from an app where a person can go on there and accept payments and such?
Suberra Protocol 43:22
Got it. Yeah, I have a situation where it’s a subscription-based facility, kind of, but the… Let me think about how to best describe this. So we already have an existing payment platform that keeps track of members and this and that. But the thing is, that platform is not really an open programmable platform. So we would have to maintain a separate, I guess, ledger or some sort of system to keep track of these specific people who are using Suberra. But I’m interested in the potential of that type of integration. And I think some types of longer term members might enjoy the idea of yield direction for this purpose. Particularly wealthier clients who basically have the money to sort of park for a larger membership. So it is interesting. I just haven’t figured out in my head how to blend these two types of customers, the person who’s going to come in via our existing payment gateway, and those that are going to come in via Suberra.
Suberra Protocol 45:52
Yeah, there’s a lot of things to watch for that. In fact, you have to be very careful about how you want to handle that scenario, where there’s users who come in through the traditional rails and also users who are coming through Suberra. The ideal ways that both of them will… I mean, needs to separate between the two systems, the payment system, and also the access to the platform. So, in any case, we can work it out maybe after this call, but send me a DM.
Yeah, I was thinking of it out just in my head, but what we could do potentially is, we have the subscription based, and when the person checks in and enters into that… And this is at a local facility, it’s not like they’re gonna do this online. So maybe a way I could do it is I could charge them some nominal… I can create a membership that’s like a nominal feem like a penny, and then I can run this through Suberra but it actually records their access to all their activities, but it looks like it’s free on the actual payment gateway. So I could probably do some sort of trickery to make it happen. [chuckle]
Suberra Protocol 47:03
Yeah, I can’t really wrap my head around it. Yeah, I think let’s spend some time on it after this call, so that we can work out the kinks.
Dr. Doscoin 47:13
Yeah, you can do that in the DMs afterwards. But that sounds pretty crafty. I can see we’ve got DeFi Zealot. DeFi Zealot, can you hear me there? If you can hear me loud and clear, feel free to take your microphone.
I have a question as well I was just curious about for Edison.
Dr. Doscoin 47:36
So yeah, Zion from Orbital Command. Edison, nice to meet you. I’m just curious, are you familiar with Superfluid on Ethereum, and what they’re building with network’s cashflows?
Suberra Protocol 47:50
Oh, yes, we are pretty… We have looked into them before. What’s up?
I was just curious how you guys see what you guys are building in relation to them. They’re kind of building this network of interlocking streams of value across different assets. How do you kind of see your business from a positioning perspective, in comparison to theirs?
Suberra Protocol 48:16
Alright, so right now, what’s Suberra have is that we are… You can think of us as we are doing payments in discrete fashion, and rather than Superfluid is doing it on a continuous basis. In laymen terms, what it really does is that for the audience on this call who are not familiar with Superfluid, it allows you to stream money to another user and you can stream it by second. So let’s say if I pay you $1,000 a month, then you can literally see your balance changes every second. So maybe it’s $3 on the first day, and then $6 on the second day. You can see that changing in real time, which is really cool. But for Suberra’s case, we’re doing payments in discreet manner. So meaning to say that, if I pay you on a monthly basis, then there’s only one payment that move every month. So this underlying difference has huge implications to how our protocol differs from each other.
Suberra Protocol 49:21
So number one is that when it comes to subscriptions, merchants typically like the idea of a discrete model more, because that’s more similar to how things are like on Web 2. I mean, first of all, if you’re subscribed to Netflix, you don’t see your balance changes every month. But rather you see an item at the end of the month that charges you for your Netflix subscription. So in that case, we think that it’s going to be more suitable for subscriptions, because if we try to do it on Superfluid directly at the moment, then there’s really nothing that’s stopping people from turning off the stream any time. So they can literally switch on the stream, and then access the platform like Netflix, and then once they’re done they can switch it off. And that’s really bad for merchants. So we think that our model is a lot more suitable for subscriptions. But having said that, we still think that payment streams is a interesting thing to look into. But one thing that we hope that we can differ a little bit from Superfluid is that we can give more utility for the underlying USD that you stream over.
Suberra Protocol 50:34
So let’s say that if I’m trying to do payments through Superfluid, if I try to send another user USD, then that USD is wrapped into their Super Token, maybe call it DAIx, for instance. And that USD is not earning interest along the way. So that’s kind of very capital inefficient, because we’re trying to optimize for use, but if I’m putting aside a huge chunk of money into a protocol that is not earning any yields on top of it, then that’s kind of not ideal. So in fact, we have this in our R&D at the moment. We have payment streams that have already been launched on beta. So in that case, you can stream money to another user and the balance changes every second. But we are trying to challenge ourselves by bringing that interest bearing aspect to that. We’re trying to bring Anchor use to our payment streams. So if we actually launch that payment streams one day in the future, then it’s going to come with an interest bearing aspect to that. So that’s something that I think that is going to differ us from Superfluid. And finally, I think the last point is that first of all we are on Terra. And that’s the platform that we’re launching on. Superfluid is only available on Matic and… I think it’s only available on Matic at the moment. And another network that I can’t recall. So yeah, we get access to different users, we get access to different protocols. There’s really nothing to say whether one protocol will be better than the other, but we are just different in our approach.
Yeah, that makes sense. I appreciate you kind of walking me through the difference between your protocol and Superfluid. I think it’s really interesting what you guys are building at Suberra.
Suberra Protocol 52:32
Thank you. Thanks a lot.
Dr. Doscoin 52:33
Yeah, awesome. So we’ve got two more questions here. We’re on this probably another 10 minutes. So I think z.ust was first if you want to… Oh, Zac, sorry, UST.
Hey, how’s it going? And can you guys hear me?
Suberra Protocol 52:48
Hey, how’s it going? Yeah, I can hear you.
Yeah, very well, thanks. Super interesting protocol. I’m wondering if you’re going to be focused on just UST or are you going to be using the other stables that Terra has.
Suberra Protocol 53:00
So when we launched we are only going to be accepting the UST. But for merchants there have been… One of the top request that we get from merchants is that they want to accept USDC on other chains like Polygon or Solana. We’re trying to find a way around it. So maybe it’s that we get a bridge to UST along the way so that it gets stored as UST on Suberra. The exact mechanism hasn’t been worked out. But we are actively working on that.
Does the fact that Anchor only accepts UST impact what you can offer? If they were able to use KRT, would you be able to offer the same deal but for Korean customers?
Suberra Protocol 53:43
If between different currencies, then that is not that trivial anymore because that is the impact of foreign exchange rates that maybe the FX risks between KRT and UST. So that’s something that we haven’t been thinking of because merchants have always been traditionally more like USD, or UST for instance. Yeah, so back to your point, if there’s any KRT that comes up, we’ll see how it goes. We assess how big is the market, then we’ll decide whether we want to accept that or how we go about it.
Yeah, fair enough. Great. And then in terms of your recurring payments, would that be something that you could set up to use other Terra assets besides the stablecoin? Let’s say you set a recurring payement up to your team for a salary of LUNA, or a salary of Anchor, as opposed to a salary of a stablecoin? Is that something that can be done on Suberra or is that probably something else?
Suberra Protocol 54:46
So that’s something that we can potentially explore in the future, because I think that I will have to check with my team later on. But how we actually work around things is that we can basically move any tokens across the network. So even if that is LUNA and not… Let me think about it. Okay, if it’s on LUNA, then we’ll have to wrap that across to a separate token. And then you can shrink that or transfer that recurringly over time to another user. And it’s also possible to do that for every other CW20 tokens, let’s say Anchor ANC, or MIR, ASTRO, we can do that too. So right now we have our R&D on payment streams with CW20. If you guys like it, I can maybe share a sneak preview on that soon. So in that case, you can stream any CW20 tokens to another user easily. So it’s not just restricted to UST.
Or even in theory, you have a dollar cost averaging mechanism going on. So if you combine that with the 20% anchor yield, if you have an internal converter, a user could deposit $1,000 and they get 20% yield but in LUNA, and then probably pay it off to somewhere if they wanted to I guess.
Suberra Protocol 56:18
Yeah, just an interesting idea. So with a DCA, what we do is that we literally do a transaction every week or every month so that we take the UST from your account, which is on Anchor by the way, so we take it as aUST, and then we swap it for UST and then we swap it on Astro for your favorite token, be it LUNA, or be it maybe ASTRO token, for instance. So that’s something that we can work out as a DCA strategy. So you can buy any tokens on Terra ecosystem with your Anchor yields.
Yeah, perfect. Thanks for answering my questions. I’m looking forward to it.
Dr. Doscoin 57:00
Awesome. Great question, Zack. What we’ll do, because we are almost out of time, we’ll get Ray on. Ray, if you want to jump on, mate, and ask your question, you’re most welcome.
Ray Allan 57:09
Hello, guys. Thanks for this chance. I was just inquiring… I kind of don’t understand what you all do. Could you explain it better… In a better way? I didn’t get it from the explanation. I’m kinda getting this by… You’re doing DeFi or something, but I don’t get it, right.
Suberra Protocol 57:32
Yeah. Can you explain your question again?
Dr. Doscoin 57:35
So I’m happy to answer that in a really succinct way for you. Basically, Suberra’s core offering is going to be… Or is to enable people to set up subscription payments, which are automatically paid for out of the yield that their deposit is generating. Does that make sense, Ray?
Ray Allan 57:54
Yeah. Thank you, thank you. Wow, that’s cool. You can pay subscriptions by Suberra to anything you want to subscribe or something?
Suberra Protocol 58:08
Yeah, you can pay for anything for subscriptions. So in Suberra I think that… Just to go back to the point, we do things that… Basically, we do recurring payments for money that is in your account. So you can use it to pay for anything. Let’s say that even if it’s maybe subscription payment, or even a payroll. And it’s not just on the yields. The yields are really important if your… I mean, you can first of all offset the subscription amount. Or if you have enough money in your Suberra, you can pay for your subscription in full. So just imagine that, let’s say if you’re trying to subscribe to Nansen for $100 a month, then all you need is maybe around $7,000 or $8,000 on Suberra. Then the interest every month can pay for your Nansen subscriptions. So you kind of get free subscription on Nansen for life. And that’s something that I feel is really cool. But beyond that, we are also… I think one of the favorite questions that people always ask us is that how are we different from Pylon. The difference is that we do not just do yield redirection. We focus a lot on payment just in time. So what do I mean by that is that you don’t really need… So let’s say if you are trying to subscribe to Nansen, then even though you can get free suspension on Nansen for $1,000 on Suberra, but you don’t really need that to get started. In fact, what you need is that you need around $100 or $200 in your account so you can start paying for a Nansen subscription. And then over time, you can just top up your account with the money that you want to spend so that you can get a subscription going. So in that case, we don’t really tap into that principle back approach, which is different from Pylon. So I hope maybe that gives you a bit more insight onto what we have.
Ray Allan 1:00:15
That sounds lovely. I love it. Thank you.
Dr. Doscoin 1:00:19
Thank you for your question there, Ray, really appreciate it. Look, what we’ll do here is we’ll start winding down, because we’ve come up to the hour mark here. I just want to add for yourself there, Edison, that I think when you’re talking about mainstream adoption goes, as far as mainstream adoption goes, I think the Washington Nationals would be an amazing… And it’s not… I wouldn’t call it low hanging fruit, because I’m sure there’s plenty of bureaucracy, and there’s going to be a bit of lead time before you’re able to get the UST adoption. But I think if we were able to get something where baseball fans could pay for their baseball subscriptions in UST via Suberra, I think that would be an amazing mainstream avenue for you guys.
Suberra Protocol 1:01:02
Yeah, I think this is something that a lot of people have been asking us for. Whether can we integrate with sports teams, etcetera. So yeah, I think that’s something we can definitely explore.
Dr. Doscoin 1:01:15
Yeah, fantastic. Well, I’m looking forward to seeing how that all unfolds. In the meantime, as far as where people can check you out. You have… What are the places that are best for people to check you all out?
Suberra Protocol 1:01:27
Yeah, so you can check us out on suberra.io. We have left most of our things on our platform. If you want to read more about us, you can go to the docs section where you can read our documentation on Suberra. We’ve written quite a bit on how it works, how this Subwallet is like. And we have a public test net that is ongoing at the moment. So I strongly encourage you guys to try it out, give us any feedback if you have any suggestions or any bugs that you face. Yeah, we really appreciate that.
Dr. Doscoin 1:02:02
Fantastic. And anyone that’s listening that might be a marketing lead, or a back end engineer, Suberra are hiring and are looking for someone to help them grow the project. So you’re most certainly invited to send them a DM. With that being said, we’re on tomorrow again, we chat with Loop. In the meantime, thank you so much Suberra for jumping on. Thank you everyone for listening. And also thank you, as per usual, to Finn and the guys at TerraSpaces for doing what you do, it’s always appreciated. Wishing you all an amazing day, alright.
Suberra Protocol 1:02:34
There’s a lot for the shout out. And thanks for having us on the show.
Dr. Doscoin 1:02:38
You’re so welcome. You take care.
Suberra Protocol 1:02:41
Take care. Have a good one. Stay safe.
Thanks for checking out another episode of The Ether. That was the Suberra Protocol AMA and Updates hosted by Orbital Command. Recorded on Tuesday, February 22nd 2022. This episode of The Ether was 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 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 Talis news. Find your next favorite artist on talis.art. TerraSpaces appreciates the support from all our sponsors. For terraspaces.org, I’m Finn, thanks for listening.