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  • yeah, there's that old expression the harder I work, the luckier I get.

  • So you guys were putting in the work and you know you did all the development and then it happened and it was part of market fit and you guys took advantage of it but it wasn't exactly like you bought a lottery ticket uh to be there, talk to me about this purchase of mermaids because when I saw it I put my old investment banking hat on and I thought my first reaction Sandeep was, who advised on that was that Goldman Sachs advised and then I realized, oh my gosh, this is a completely token transaction.

  • Uh, it's sizeable.

  • It was notable talk to me about how that happened and that gets you what in the ZK zero knowledge space a little bit more.

  • But tell me about that merger is impressive really.

  • Yes, so basically, I mean as, as you at the start of the session also said that polygon is a multi chain ethereum right?

  • So we intend to add multiple, multiple types of change, like there will be zero knowledge change, there will be a bigger zero knowledge smart contract execution engines.

  • Uh, there will be, there is already proof of stake chain, there is already a polygon SDK abstain kind of architecture and all that.

  • So we are basically building all of these different, different different architectures and developers will be able to choose what they like the best right for their, their, their applications and uh, helmets acquisition is a step in that uh, you know, in that direction because of zero knowledge, we believe that you know, uh we we had uh like the like our commentators or not computers meaning the other players in the regional space had already had a head start off like a 6-12 months, right?

  • And we needed to, you know, become become at par with the existing zero or less solution providers.

  • So the inorganic way of doing was to, you know, kind of much with much with the multiple such uh such platforms And uh and to get the zero knowledge expertise uh within the polygon umbrella and that's what we have done in the last 3-4 months as I said that Hamas is basically the tip of the iceberg, there is more stuff coming and uh in terms of the acquisition, in terms of like you know this acquisition, what we actually did is like, you know, we spoke to the Hermes team and they also know what we are doing, they know that capability of polygon in terms of its business development and it's uh you know, it's not only about building a technology like you know, many of the projects feel that okay, You know, we build the technology, people will come, but then it's also about business development, it's also about you know helping and supporting the ecosystem developers and all that building the entire ecosystem around and they realize that we are pretty good at that and they have this expertise on the Jordi bolena.

  • He's basically uh, you know, he's one of the legendary theory, um, uh, developers and white hat hackers, he has helped, you know, people and, and build languages like Sercombe and all that.

  • So it for us it was a perfect mix in terms of like getting them for their competency and the skill set and for for there's, it was very, it was a good step in terms of getting them all this uh, you know, visibility in the community as well as access to, you know, hundreds and hundreds of these clients who can actually build on the solution.

  • So it was kind of perfect much mix and we discussed and they discussed with their token holders and I think they got over overarching approval from their, uh, from their community.

  • And then we decided, and then again, like from the polygon tragedy, like some tokens were moved into a smart contract and then whoever owns happens, he can go and slap and that's again like, you know, comes back to the, the paradigm shift in how human beings can collaborate.

  • Like previously, if you had to do it, you would, you know, you would need like extreme level of like regulatory handhold ling and you know, uh, informing multiple of such institutions to, to, to support the, you know, swaps and you know, submit multiple kind of such people work here and there, but here in the Blockchain space, like it's all available on blocks and you don't need any more transparency than that like you know just move the tokens and you can see who is moving what and uh you know who's claiming how many tokens so uh you know it was very simple in that sense uh and we are happy that we kind of pioneered this thing and uh look and you know kind of hopeful to do more such things in the coming coming days.

  • So no Goldman Sachs involved in that, no sec involved in that you guys just got it done.

  • Yeah I mean and how do how do you even involve sec?

  • Because you know like we this this entities like polygon entities based out of the V.

  • I.

  • Harms entities based out of uh I think 23 entities like Cayman or Dubai and then you know they both the teams decided to share I.

  • P.

  • And then much that open into into this so you know sec doesn't even come into the into the purview of this.

  • So uh yeah I mean it's like all uh way and unless and until like the uh you know most of the governments across the world come come together and you know create a global framework for it, it will remain hard to um uh kind of understand we involved all the legal kind of help and everything like to make it completely compliant and everything but then you know, how do you there are no guidelines for anything like that till now?

  • And so that's why the Blockchain is the ultimate guideline.

  • Any advice to people that are going to go do mergers out there, anything you thought, you know, dues and don't of doing a deal like this now that you've done it and had a couple of months to process it, um, dues and don't, I would uh, like one of the biggest challenges comes is that when you have two listed tokens, like, you know, how do you decide the peg?

  • And uh, you know, there are a few ways of deciding the peg between these two tokens because both have, have a fluctuating value and you know, how volatile these markets are.

  • So it's hard to kind of get on a pricing, but then, you know, projects should see the, the kind of intrinsic value and try to freeze on some price between the two teams and then reach a consensus and once you reach the consensus, don't think about it.

  • Like whether you're like one token goes, you know, like crazy, I don't think like, you know, you ended up paying a higher price or lower price whatever, especially in terms of like how the team synergies, I think the good things is that, you know, both of our teams have gelled well and we have kind of uh we are building polygon in a, in a kind of a conglomerate way.

  • So it's like the world's first decent lives conglomerate kind of thing which have these small, small entities like harmonies and there will be a few more announced and they are working in a very autonomous way at their level.

  • But since they use Matic token, so all the value, their network, a cruise, you know, eventually goes back to the medic token.

  • And that's how I think it's like a very new paradigm in that sense.

  • Think of it like a multiple autonomous entities working together.

  • But all of them actually, the value approval is actually going into the token.

  • And since there is like on the decent lives platforms, you don't need to make revenues.

  • So you don't have any distrust issues that people are creating revenues and not displaying it and displaying or kind of contributing back to the main umbrella.

  • So because there are no revenues, all the things, all the teams are working to make the or are going to make sure to kind of make sure that the value approval of these activities goes to the magic token and then you don't need any kind of oversight and all that.

  • I think it's, it's like much more symbiotic, uh, you know, as you would imagine or, or as you would expect to have it in the real world and in the, in the crypto world, it, once you get into this, you get understand this business models of proof of taking all that, it's very, very symbiotic.

  • We don't even need to kind of uh, you know, uh, intervene into the autonomy of the individual teams.

  • They can fully build themselves.

  • They have token allocations and all that.

  • If they grow their their value approval or their activities add to the value approval everybody benefits.

  • So it's very kind of symbiotic environment.

yeah, there's that old expression the harder I work, the luckier I get.

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B1 polygon token kind approval multiple symbiotic

Sandeep Nailwal Explains Polygon Merger & Blockchain Ecosystem ?

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    林宜悉 posted on 2021/09/26
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