Placeholder Image

Subtitles section Play video

  • wow, okay.

  • I think I've kind of got my head around that.

  • It's some fascinating to economics.

  • I just had a weird flashback to almost like what the avian compound people were doing because I'm, I'm using say Edith, I'm swapping his collateral.

  • I'm getting interest on it.

  • But then I also get extra compound and of tokens which makes me part of the network and part of that future value creation and makes me wanna again continue to use the system in a weird way I'm using amP as collateral, which again, it does that really well.

  • But also my collateral will appreciate over time too because of that network effect.

  • Is that a way of looking at that?

  • We'll use it.

  • Yeah, people use it for sure.

  • Because every use on flex a results in a market purchase of the token?

  • Which is great.

  • Right?

  • So for the people still and again only has this one utility which is providing that Hamlet, So it actually is positive because the token price increases, that means more and more collateral available.

  • So as a user literally as a wallet, you're getting more spending capacity, which is fantastic.

  • Which means that the network can grow otherwise you'd be running into all these limits and you'd be bumping up in the collateral of it.

  • So it's actually very positive.

  • The network to have this nice virtuous cycle continuing to, to kind of grow from that perspective, did you figure this out like in, I think was like 18 or 19 when you kind of create the amP and retired the flex it took, I mean, did you kind of see what was happening and thought, wow if we do it this way this engineers what doesn't engineer success but engineers a greater opportunity of success is that kind of what happened?

  • Um no, all the economics is actually created right upfront because it's really so critical.

  • This is not a lot of projects, you'll see their their business or something else and like we can add a token or we can try to like sell a token or do these things for us like so literally does not exist without a token.

  • It is impossible.

  • You cannot build the system because you get so much fraud which would be completely untenable and you can't scale something if lexa needs to get every wallet to do a business deal with us and us and they don't want to use that, they want to start using public infrastructure.

  • So it is literally impossible to build something like flex up without some sort of a token.

  • and so that was critical from day one is figuring that out of not only and it's still crazy now, you know like 3, 3.5 years later it seems all straightforward but these are things that again, you know swap didn't exist, you know a handful of these, they didn't exist yet like all these staking contracts didn't exist.

  • None of this stuff is out there yet.

  • So you really had to like kind of think about what was just the core utility that you need and then you figure out the tech later And so that's where AMP really came in with.

  • So it fundamentally does exactly the same thing.

  • But we built the new technology that now is going to enable it better than ever before.

  • So, but in terms of the economics, the functionality, what it does or looks like is 100% the same.

  • So nothing had changed really at all.

  • It was more just like some tech innovation that we could make this work.

  • better.

  • Like a more of uh, kind of unique, unique level to the token.

  • But at a high level macro is all exactly, are you surprised at the market cap of amP and when you get that feedback, what does it make you think?

  • Um, uh man, this is the way I sort of look at, even when I was mentioning the the inning one, I view us as very much the same.

  • So this is a project that me and the founding team and others, we look at this as regardless of what the market cap or use or otherwise of am pouring flexes.

  • We've got what minimum, bare, bare minimum 5 to 10 years worth of really hard work even start getting this where we think it can be because we have to, all the various licensing all the regulatory components like, you know, setting all of this up is a very long term game.

  • So our aspirations of what we're trying to do, I sound, you know, a little bit of like that crazy for now.

  • We're gonna connect everything is gonna work all over the world.

  • We're gonna accept all these assets, all these apps like that's 100% our mission.

  • So to do that as fast as this grows, you can't build that in five or 10 years.

  • Like this is gonna, it's a really long term projects the way that we thought about it.

  • So I think we're really excited about the growth we've seen so far, particularly to support the enthusiasm of people using this.

  • So being able to go on twitter and see people, you know, posting all their videos of people spending and like, you know, real world stores.

  • That's really invigorating for us to see and we want to support this and you know, so much far beyond, but for us it's a, oh man, it's, we pay attention to it and that's any sort of traction.

  • The validation enthusiasm is always great.

  • But for us, this is so long term that were barely even started and we're already exhausted, but we're going to hang in there, the founding team has literally all of us, there's four of us, we've all started companies before this is not our first game by any means.

  • So we know what we're in for it.

  • It's going to be very hard to continue working with, got amazing team behind us now.

  • So, um, so yeah, that's kind of the way we always think about it, it's just little little bumps in the road in the very long journey.

wow, okay.

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 token amp collateral flex economics network


  • 0 0
    林宜悉 posted on 2021/11/19
Video vocabulary