Terra Bites Live 7/6: Validator Rewards, Nebula Airdrop, PRISM and 48 hours?!

terabytes is for informational and educational purposes only nothing on this show is advice no financial tax legal or any other kind of advice nothing we say is an inducement to make a particular investment or follow a particular strategy anything you invest in well that's at your own risk so you should do your own research and consult with your own professionals pete mr peter k coming to us live from miami where it's hot and sunny and the crypto market is just exploding sir how are you it's uh i'm doing great it's hot in hurricaney more like there's a hurricane coming i guess it's that tropical storm now um pricey pay pricey pay apparently also yeah apparently i'll say rough internet is the price you pay um apologies for any freezes i'm moving very soon and internet's a priority so hey we got lots to talk about though let's talk a lot let's let's jump in let's jump in man um there's so much that's happening in this ecosystem that i can't no like what was the last news bite 44 projects mentioned it was 42 on the thumbnail but i counted up again and it was like 44. and um you know there's there's already new news that we got to cover here including some projects that people on stream will have never heard of before um probably so let's jump right in let's do it i think a lot of what we're talking about today before we dive specifically into project things is uh very much um about the validator rewards um and we see dreamer here validator rewards not sticker rewards we're going to talk uh about that you had a meeting offline with um with a company that's getting no media okay i can't leak any of that alpha but we will keep we will keep it let's talk about validator rewards first of all because there has been a conversation amongst validators um there's some ideas of people talking about maybe having a minimum for um for commission and so you know what we want to talk about what are the benefits of that why would we do that does that hurt people who are staking to our validator amongst other validators is that helpful for validators what does it do for decentralization we saw dokwan himself say on twitter that the nebula airdrop was going to go to people it was going to be distributed evenly amongst validators and what does that mean well that means if a validator has 100 people staked to it they're going to get only say 100 nebula so each person that's staked there would get one nebula according to the weight of their stake so let's just use very simple math however let's say that only two people were stick to your validator and that validator gets a hundred nebula well now you each get 50 if you're evenly staked so um let's let's dive into this a little bit pete what's uh what's going on in the world of validators and what does the minimum commission even mean sure let me uh somebody they're asking for the snake on screen so i'll get the snake guys i'll get him i'll get him later i'll get him when evan's talking all right so i'm gonna go ahead and pop up this uh let's see here um that should be the right thing all right you should see a uh twitter twitter thread by yours truly on the screen we're looking good yep all right so uh we did there's been a discussion about luna validator like commissions and can they cover costs if you don't know uh when you stake to a validator or you delegate to a validator you vote for a validator they all mean the same thing you uh you stake your luna it's still yours it's still in your control your wallet and everything but it's locked up for 21 days usually and then the validator has your votes so the validator is more likely to create a block and get the various rewards and the validator has more voting power in governance right and so uh if you vote for validators that are good that have good reliable infrastructure and that have good they could do good things for the community it helps the community out helps the validator out helps the network out helps network value out so you want to make sure that we want to make sure as a community that ultimately our validators costs are covered by their commission now the commission is a percentage it's usually pretty small a percentage of the rewards that you would get as a staker um that is taken by the validator given to the validator and and commissions are pretty normal um i think five percent is a pretty normal number that validators have right now we're at three percent there's validators with ten percent there's validators with one percent there's validators with zero but those are usually special cases either they are just spun up a validator to stake a bunch of money that they already had to themselves or they um uh they they're doing a special promotional and in a few weeks or a few months they'll start hiking that commission rate up but anyway we did a discussion on this because it does tend to drive everything down to zero normally you're paying a couple hundred dollars for the node depends on where you are what setup you're using but you're also covering we've got to cover fiat price feed subscriptions actually use services ideally more than one that is a paid subscription that gives you a fiat price feed because the rates we need fiat price feeds at the free subscriptions don't cover because that's a service that's critical to all these stable coins is that validators cover these like price feeds for fiat currencies and then sentry nodes which basically protect your main node and storage is going to grow over time because of people transacting and then potentially a backup node rpc nodes which are nodes that apps and other groups analytics dashboards whatever can use to communicate and ask what's going on on the network so an rpc look at like a more public informational node um or test net nodes which you have to do if you want to be in the delegation program from terraform labs and so all these things are costs that the nodes are covering but the fact that people want more rewards means that competition drives the percentage down to zero so if you can afford it if you have tons of money that you're sticking to yourself or if you maybe are one percent commission you have tons of votes then you can afford to drive those percentages down whereas smaller validators if they're at those lower percentages like zero or one percent they're just eating costs and um you know so a lot of them are just negative right in running running in the red um so the idea that the terraform labs brought on uh someone new uh you could see that the validators are while they're not like extremely centralized there's some validators with uh like major power compared to the others so terraform labs brought on somebody new um jared i i guess his last name is warren jared warren and uh he's validated relations now at term money and jared immediately proposed setting minimum validator commissions um so so that there's an expect like there's five percent or one percent or ten percent i don't know where the discussion is going to shake out but minimum commissions so the validators costs are covered i think this just i think personally i think this just doesn't do anything except maybe come like explain to the community what validators need to cover their costs because uh the validators could just drop that that minimum percentage directly to their voters uh which we've seen on other networks right remember um eos in the in the beginning there were no rewards in fact they called it vote buying it was heavily discouraged for block producers validators on that network to give anything back to voters um but then that sentiment shifted and now it's now it's normal and it wasn't because the network changed its protocol it was just because the validators that were getting voted in decided to directly drop to voters so no matter what there's going to be competition down to zero percent the question is how to do this larry from from delphi digital came in and that's not right here larry from delphi digital came in and said well we need to do a reward curve so that smaller validators get more rewards proportionally and it doesn't have to be severe maybe it's not as big as the quadratic rewards proposal but a curve so that if you're a tiny validator you're getting a little bit more rewards proportionally covering some more costs um but that even has a loophole you could just uh if you're let's say you're in exchange with lots of luna and you want more rewards and more voting power you're not going to keep one validator up that you're sticking all your funds to uh you're gonna try to find that perfect balance where you've got small validators so they're up the curve so they get more rewards and you're now covering more paid positions so you're you're eventually uh the exchanges want to spin up a lot of what sock puppet validators that they're voting huge funds for because people keep luna on exchanges um or they have their own you know cash and they're i mean game theory wise they want all the paid positions we've seen this on other networks before too um so the question the discussion is very important for the future of the network given what we've seen in delegated proof of stake networks before and terraform's done these temporary measures i'm just going off here but tom stop me if you have a question terraform is doing these temporary measures where like the nebula airdrop is going to go to smaller validators more but that's only temporary right after that people are going to go restake for orion or whatever not to bash orion but they're gonna go re-stake to somebody uh you know for whatever reason they were staking before uh so the nebula airdrop and then uh also a couple of big accounts redelegated their votes and there was the terraform labs delegation proposal so the network has decentralized a little bit in voting power and rewards recently but again all those are kind of temporary measures and so we're in the middle of a big discussion with a new person at terraform labs about how to set this up correctly for the long term is that a good summary yeah i think that's a great summary and you know it's it always seems so simple uh someone says oh let's just set a a commission floor at five percent but there's a loophole right everything within crypto has the most extreme game theory if there's a way to poke a hole into anything you do it's going to be done uh by way of greed and so uh it's it's very interesting to see sort of how we create these anti-fragile networks throughout sort of trial and error um and you know in terrorist cases not necessarily trial and error but a lot of good conversations on the agora uh forums um and then you know you talk about some of the loopholes as well with the quadratic voting um it it seems to me in you know this just to get a little bit into i don't want to get too far off on a tangent here um it seems to me like transparency is definitely at least a helpful in this circumstance um you know people who are running nodes and validators out there if they can be more transparent about what their costs are i don't know if many people even know uh what what goes into being a validator maybe they understand that like yeah you need some computing power but we're paying the fees for uh the oracle price fees and we're paying fees for for other things out there so it's it's interesting to just at least be transparent you can show people sort of what your costs are um and again i i don't want to go too far far off onto a tangent and change the subject here but one of the um one of the content bounties out there or at least something that we're going to to push for a little bit more in the content bounty program is sort of a more transparent profile of validators i know since we began running our validator uh and since we've sort of been around in the terra ecosystem space a huge question that we get from people all the time or that i just see randomly on uh telegram is well which validator should i stake to and you know i don't go around like blowing our own horn and say oh stick to terabytes but you know a lot of people will mention orbital a lot of people will mention us a lot of people will mention um some of the other ones out there sorry i'm on like 15 minutes of sleep because my my newborn daughter woke me up last night so my apologies if i don't name everybody that's doing great work in the tara ecosystem as a validator but there's really not like a great place to go especially for newcomers and go and find what is the information on these validators and if you run through the list if you're on tariff station there's a bunch of validators that are you know they're joining every day they're new maybe they have a huge delegation maybe they don't have much and you don't even know really who they are or what they're about maybe they're a fund maybe they're uh an exchange as you said and so it would be nice if we could get some sort of content out there maybe it needs to be a a terabytes um you know something that we do or maybe we can do it through the content bounty program and just see uh you know what are these what are these um what are these validators all about what are they what are they spending their money on what do they see is the vision of the future of the entire ecosystem do they agree with quadratic voting um you know if you're a large exchange and say we we implement quadratic voting it might not be as easy for you to go ahead off and break into several different smaller validators if we have that transparency of okay well wait a minute who's this new validator all of a sudden are they putting like a shell validator in place or a sock puppet as you said who's running that are they gonna like mask their voice or hire their cousin to come in and do an interview to talk about you know how their new validator spun up completely out of nowhere from the clouds um so it's interesting to see um just just what's going on a couple questions here pete that i think you could probably answer better than i could this one's from convicted marketer he just says what's the average cost monthly to run a node um and then he also followed up with is there a dashboard to see how much validators are making um okay so i'll hit those questions with those questions in a second um the uh but uh you you mentioned how do people know like like there needs to be some transparency and you want to know the identity of the nodes well there is kind of a system it's i mean it's centralized right now but there's a system that is maybe it will be forever where we're in terra station that little blue check mark which we have one some other nodes have one i don't know how rigorous the process is to get it but at least you do uh you do fill out some a forum with some information and reach out um post post a description and stuff and a website and and so on uh to two terraform labs and so you get that little blue check mark for some reason there's a bug and our description isn't on the web page we've had a couple a couple issues there but um i'll uh i'll reach out again and get that fixed i just haven't bothered yet but anyway so you can look at validators that have blue check marks that means they're at least like a little bit of due diligence has been done on them uh reach out to their social channel see if they're active to try to find out who they are basically and confirmation that the entity that's listed is like does publicly claim to be running a terror validator uh and so on and there's actually a project that um that we'll show in just a second that might make this easier a newly announced project and it was in the terraform labs community spotlight that they do it was maybe the fourth project in the community spotlight we've seen cash and loop and somebody else forgetting and now this project as well to help people pick validators so the the costs for validators range um you know somebody said 400 to a thousand it depends on how much of that stuff you're doing whether you're protecting your validator with sentry nodes whether you're running a backup node which while it sounds great is uh is complex to do without risking double signing and slashing everybody five percent so uh it's it's not uh universal right now eventually that'll be streamlined out and then whether you're running all these these other like test net nodes for example you don't have to run test nodes but a lot of validators do in order to contribute to the network so i think that that range that that jared's been giving 400 to a thousand dollars i think that's fair uh there are people that there are validators that pay more especially if you're um if like as a validator you're not a sys admin right some of these community validators aren't necessarily like unix buffs uh linux buffs you know and uh and sysadmin buffs and they don't want it so they they find somebody else to help so there could be additional costs as well depending on the validator um it'll it'll probably creep up over a thousand dollars as storage demands grow and as in for competition becomes a little bit a little bit stronger but that's i think it's a pretty good range we can't see how much validators are making that i know of but i'm going to go check smart stake and see if they've added something like that smartstake another great validator as well that you mentioned they've got a lot of good resources out there so if you're looking to if you're if you're staked two terabytes but you want to diversify a little bit good option there question for you pete on the cost side as we see more assets added to mirror and just more assets added eventually to uh to nebula as we see like etfs come into play there's going to be more and more need and reliance upon oracles to give us those price feeds does that increase the the price of those oracle fees for validators no they don't the service at least of the case we use the service we use the first paid tier is plenty for frequent oracle updates um i don't know um as people want to decentralize that as people want to uh you know add more of those into the mix because you can add multiple then it'll increase costs a little bit but it's it's not it's not this is like a scalability thing it's fine in fact they made a they made a recent change around the anchor air drop that was really helpful um there were oracle votes weren't getting in because there was congestion on the network um so they made oracle votes prioritized and also free so if the action is to vote as a validator saying hey here's some oracle votes then the validator doesn't need to pay a fee on that so if the validators fees are you know their fee wallet is dropping low or something or the network's congested it doesn't it doesn't stop the oracles from coming in so that was a good recent change nobody talked about it except in the validator discord but uh um anyway let's talk about stator starter state stator i think they're saying branding at stator i got a screen share let's put it up check this out for staking the most convenient and safest way to maximize your returns on staking okay what does that do you you're not really sure but if you launch the app it becomes a little bit clearer and of course it launches in a new tab hang on one second okay so they have an alpha out and you can actually uh you can actually use it on testnet and they only have a couple of baskets here there could be might be more baskets added like community validators in here and um you know a reliability commission mix something like that right now just i mean it's alpha it just came out they have a couple here least commission validators and you can see who that is and then uh top validators and again it's alpha this is not something that uh you know but you can you can check out the allocation here and you can actually connect your wallet and and try it out on testnet um and then you get a little dashboard here that just shows you your two vaults and uh the rewards going on with those vaults and you can your own deposits there your own waiting rewards and your own funds that could still be delegated so it's a it's a way to um and eventually eventually i'm sure that the governance token or governance mechanism will like set what these validator pots are like be able to say hey we want to we want to make a new basket with these parameters um or something more subjective like we want to add this really helpful community validator to the community validators pot something like that right um but at for now it's they're they're adding some cool baskets these are the first two and um it's it's open for feedback if you want to pop in and uh just say hey i think this basket would be a great idea or i see a problem with this basket or this is too subjective whatever you want to say you can just reach out to stator labs they're looking for feedback on on their product in general that's alpha.statorlabs.com and we hope to have them on soon so they want to actually be multi-chain too so they want to uh you know have vaults ultimately that could be across chains and it's all non-custodial uh people you can see the contract um working on on the explorer when you fire it up and um it's it's a non-custodial thing so uh that's cool i thought when i heard about him i assumed it was going to be custodial but you you just deposit to the contract and you know they can't take all your money uh but it's conveniently divvied out into these baskets these baskets of validators anyway that's it stop and so just to sort of like put that in layman's terms what's someone stake with them rather than just going in and selecting their own validators uh for three reasons i think uh the first being that i mean maybe you're coming in and you want to follow certain strategy like you want the lease commission or you want to pick validators that have been sort of vetted right i mean not that stator is taking on any liability if there's you know slashing eventually there might be community or excuse me eventually there might be validator baskets that have built-in slashing insurance with something like unslashed um which would be great too but you know you're coming in and they're sort of vetted right the stator knows who they are the community the governance knows who they are um or will protest like what like what are you doing with these um you know and and so you're getting a little bit more like you know that if i hit just community validators because i want to support the community uh here's the commission the overall commission i don't have to stake five times you know i don't have to i'm not researching all these people because if there's a bit of vetting going on it just makes it easier for people like that and and also a unified place to check out how all your baskets and validators doing across potentially multiple chains in the future um so i know they're working on multiple stake chains they want to be the staking validator aggregator across um you know all these different staking blockchains make it more convenient for everybody to do non-custodial staking following the strategies they like in these can i call them semi-vetted uh baskets of validators so i think that's uh i think it's pretty interesting yeah yeah yeah uh someone in the chat's asking for the link for stator daughter yeah it's um alpha i'm not in the youtube um it's it's alpha.statorlabs.com or you just go to statorlabs.com and that has the app link right there and connect wallet check it out on testnet and then i just want to take a step back even further just for some of the people that maybe don't know because it makes sense um up front to want to stick to validators who are providing a good value for the community but you mentioned slashing and there's a there's a financial incentive to staking with good validators as well if you go on terra station you see that there's like an uptime statistic what is slashing why does that happen and what is the penalty potentially for somebody if you're sticking to a validator who isn't paying attention isn't updating um because you can get penalized as someone who's staking to a validator as well as the validator getting penalized can you dive into that a little bit more sure there's there's two kinds of slashing and uh well there might be more but there are two main kinds i'm not sure if there's another um but one has happened before and has affected people that's called downtime slashing and that is point zero one percent so if you have um ten thousand luna then you'll get slashed one luna um which you don't want to happen but it's not you know catastrophic right i mean 0.01 that's if the validator you're voting for goes down for for a significant time it's not just if they miss a block or two um it's if you start cc that uptime number sync on station and it just keeps syncing and then the validator gets jailed basically they're harming the network because whenever we contact the validator and say hey make a block the validator doesn't doesn't do it it doesn't doesn't make a block so they get jailed uh until you know they can fix the issue and then actually push a transaction saying hey i'm good unjail me um and if that happens you will get slash 0.01 that happened to us before related to an update a few months ago and it happened to uh several validators at the same time um and we we reimbursed the slashing to uh to voters accounts um sent out a bunch of transactions of like hey here's here's point zero three of your luna back that got slashed right um but that's just something we i wanted to i want to automate that i mean ideally that doesn't happen right but at some point your cloud hosting service might have downtime so people are incentivized to vote for validators that have good uptime history and that they think have good infra teams but that slashing isn't the end of the world 0.01 but there's a more serious lashing for double signing double signing a block is when a validator maybe they have a backup node or maybe they're doing something maliciously this is the problem with a backup node if both nodes say create a block you know and sign it off and try to like basically they're creating two different blocks um and and they're they're signing off that that could be a way to try to cheat uh to try to um you know steal money basically uh it could be a way to try to attack the network it could be malicious and because of that that's a five percent slash so you get a five percent slash for double signing now i haven't heard of an instance of that happening on mainnet um i i think i would have heard about it if it did but at least since we've joined haven't heard of that happening so it's a five percent slash it's uh it's a more serious slash for sure uh you want to make sure you i don't know you you want to dodge that one by having validators that are good with their infra um and that you trust uh not to act maliciously now again they can't run away with all your luna and they don't get that five percent but if you are voting for a validator and that validator acts maliciously um whether intentionally or not then that's a five percent slash now you can get slashing insurance i don't know how uh how live this is right now um but let's go over to unslash finance i know that if it's not something you can do yet it's something that you'll be able to do is get insurance uh for it's they're called unslashed right it's slashing insurance but it's also protection against all kinds of other things uh they have stable coin peg insurance you can take out now against ust if ust goes under 95 well actually maybe it's not live yet but uh the parameters i saw were if ust goes under 95 cents for two weeks then it pays out right the pro the uh the peg insurance premium pays out we could see these other potential problems as well so we're working with unslash assurance on that hopefully that will soon be integrated more tightly and this is actually the reason that um when you go to anchor and you uh you you bond luna there's only a limited list of validators there that's in partnership with lido finance known for doing uh the uh ste east taking derivatives like liquid staking derivatives on ethereum for ethereum 2.0 your ethereum's locked up forever well they give you a token that represents your stake basically and so lido also is is working with anchor both to bring ethereum to the platform and in general and so they have like some application process and reliability metrics for validators which is why the list there is limited validators have to meet stringent uh reliability metrics and then apply to to get to get into that list um so there's there's levels of protection here that you could go with an anchor your validators are like you look at those validators they've been vetted for their infra you could get unslashed finance slashing insurance out or you could just say well it's point zero one percent and i'll be really careful to not vote for validators that i think are a risk for that or for the five percent slashing yeah in just another lido l-i-d-o just another note uh a couple other notes just about validators as we sort of shift gears a little bit here towards some of the other news we wanted to cover today if you are looking to either move your delegation away from a validator for whatever reason or you're looking to diversify please keep in mind that you don't have to un-delegate and wait 21 days for that unstaking period to clear and then re-delegate you would miss out on 21 days of your staking rewards there you can actually just re-delegate um so there's no penalty there there's no loss of your staking rewards and so please be mindful of that i've seen a lot of people whenever the announcement came out that nebula was going to be dropped to smaller validators they went and immediately undelegated and they lose 21 days there of their staking so look into redelegating there's some tutorials out there some walkthroughs on it if you have any questions or anything hit us up on twitter hit us up on telegram we'll be happy to help um one other note too and pete i sent you a link i don't know how quick you can pull up a link from telegram but um just jumping back to the bounties real quick the bounty number two which is on learn tara which is live right now for any of you content creators out there uh is actually uh specifically what we were talking about a little bit earlier with this which is basically what the tfl in partnership with terabytes is paying content creators to go out there and actually create a more robust sort of catalog of who all the validators are what's up with the team what does their info team look like as pete mentioned earlier um you know maybe what is their uh what is their pedigree what is their um i can't remember the word i'm trying to think of but how you know how how well are they providing value for the community so um we can bring that up on the screen real quick so this is the um this is the second of three bounties that have gone out this week and you can earn up to 500 for publishing a report on current validators and the terra luna ecosystem um so take a look at that that's live over at uh at tara or i'm sorry learn is it learn dash tara i believe is the url yeah learn hyphen terra.com and you just go up to bounties up here and you can see uh these nice stretched images where all the bounties are there's there's three right now earn 500 for explaining how anchor savings work to normies earn up to 500 and there's again there's multiple uh multiple winners possible so even if you don't take away the top prize you can take away a second or third prize um and uh and i believe you get to keep like the authorship if you want to grow a medium following and keep the authorship and add to the publication and and then it lives on the terra publication but it's still yours and uh you can start building up a medium following if that's something you want to do um the second one's on validators in the ecosystem and the third one's on the new developments of columbus five which i know a lot of people are asking about and we've seen a lot of tweets going around for a while about columbus 5 and the impact it'll have yeah and donku r in the chat said can we get multiple bounties per week as a creator pete you and i are the judges i think if somebody comes out with good enough content uh i'm not gonna limit them to make as much money as they want to so if if donkey if you come in and write the best article on anchor and the best article on validators i don't see why not right [Laughter] so um we've talked with a couple other people who from tfl who are going to be the judges as well and there hasn't been uh there hasn't been any discussion of limiting anybody's ability to to earn there so uh interested to see what the the first round of um of content bounties will be um there was a podcast that happened can't remember was it this morning or yesterday i think it was early yesterday morning um mr dokwan himself was was on a podcast and he talked about a potential new protocol that tfl is working on and uh we wanted to cover that a little bit pete what do we know about that it's called prism what is that all about yeah it's called prism and i wanted to play the clip but i don't i don't have it ready yet but uh he dropped prism as uh he was talking about interest swaps um how right now you're exposed to like like if you hold luna um and you stake it there's maybe two different things you want to be exposed to and right now you have to be exposed to both the first one is luna price movements so you're exposed to luna you know like you wanted to go up right um but you are also exposed to these air drops and other staking rewards but these air drops and your rewards depend on the value of those well what if you want to just bet on one or the other you know what if you want to get the luna rewards and you want to be you know have luna price exposure uh but you don't care about the air drops or what if you you think the ecosystem is going to do great and you want all the air drops but you don't particularly care think that the price of luna is is going to go up you want exposure to one or the other um you don't have to take like like as interest swaps right you can you can it's just more customizable exposure to things and so prism is this idea and then still beyond that i think other ways of doing interest swaps and separating out interest concerns for people so that they can get exposure to something more specific and of course those are our tokens the derivatives that can be used throughout the financial ecosystem i don't only talked about this for about 30 seconds so um i might there if there's something i'm i'm missing or you know some key component you know who knows it was just announced uh but that's that's what prism is about i am i'm super interested in that i i just um it's it's gonna be i don't know it's it's a really interesting thing for me it's these like tokens that separate out like you can get luna ecosystem exposure without price exposure to luna uh or you can or go the other way you know and you can use these in all these projects so pretty cool idea yeah i wonder what effect that'll have on the like i said with um with anchor we saw sort of like a massive unstaking remember that um that was like before the mayday event was the unstaking um and i wonder if people will only have sort of price exposure to the airdrops but not the underlying asset then do we see an unstaking uh again because i think i think there still needs to be staked luna behind that um but you're right there might be less if people are taking one side or the other right yeah right right right i mean again this is pure speculation i actually didn't even see the 30 second clip i caught the end of the interview um but you know you'd think if you're not if they're that underlying asset is staked but you don't necessarily own it uh you don't really have any any incentive to unstake at that point maybe whoever's staking is just sort of would it be like i'm staking my luna and then selling off the rights to the airdrop without selling off the underlying luna yeah i think you can think you could think of it that way you take luna to a contract and then you get both these exposure tokens um i mean maybe it'll run a little bit differently ux wise but you get both these exposure tokens and then you can sell them or do whatever you want with them yeah that'll be interesting to see and i know uh given doe's track record he comes up with an idea and pitches it and then you know within two months we've got a fully functional product so except for columbus five except for columbus five right the thing we are all waiting on and it is still slotted for mid-july i believe and uh columbus 5 brings in so many great things uh including a potential increase in staking rewards because swap fees go to stakers now and uh more functionality that's needed for upcoming projects there are a bunch of projects that are kind of waiting on columbus five and an upgrade to the first uh stable release the first release that cosmosome team actually says hey okay you can use this we've been using pre-release releases um here and on things like secret network uh for cosmosome so that upgrade and then also ibc uh we've got to see ust coming to places like osmosis and the upcoming gravity decks uh to really provide a great stable coin for the cosmos ecosystem and beyond so really excited about uh columbus five oh let's uh introduce valkyrie let's do this let's talk about it valkyrie oh yeah by the way actually first if you guys don't know what osmosis is head to osmosis zone this isn't era strictly a terror project but ust and other terra assets will be on it it's an inner chain exchange so you can go between blockchains like cosmos blockchains and of course with bridges you can get from ethereum to here but like you know crow and and atom and eventually ust here and there's a there's a whole airdrop program if you held adam staked i believe on february 18th then you can go through this whole uh setup and get dropped a bunch of osmo um [Music] so you might get depending on how much item you have you might get thousands of dollars worth of osmo so go check it out anyway um valkyrieprotocol.com this is a new project just dropped a week ago um mentioned a week ago for the first time by sj park had special projects at tara and now we've got a landing page now there's some things about the landing page that are you know um no this is this is great look at this it's all it's all it's a landing page okay can't say anything bad about it um amplify your reach earn endless reward earn endless rewards so it's a marketing ad words referrals uh kind of project that is on terra um let's see more details here we've got the drop booster the act booster and the plus booster programs multi-faceted rewards which incentivize all aspects of campaign participation for campaign creators and participants so very very interesting i mean we've got the typical distributed governance and shall we call it distributed equity um and but otherwise it's a reward ecosystem and i can can i click these no not yet someday soon uh that's all we got you can join the telegram which i believe is still close to new messages you can check out the twitter and go to the landing page at valkyrieprotocol.com uh something that strikes me is interesting with this is this kind of the first terraform project or project that uh other than buzz link uh which we haven't seen much of outside of like korean language stuff right um this is one of the uh the tara projects that isn't like explicitly uh like i guess it's pushing out a defy a little bit right you feel that too like we're starting to nudge out of d5 and we've seen a lot of community projects do that with nfts and and you know charity and things like starting to push a little bit a little bit more out of building d5 primitives right which is what everything else has been doing so far mirror stocks anchor savings um like payments functionality and uh and nebula etfs and so on just enabling this financial ecosystem i'm starting to push out it's still financial but it's it's um it's like referrals and ads and like so we're expanding i guess the little bubble i can do um you you said it was a terraform labs project did you miss speaker is that a is that no i think i think i misspoke i know it's it's a it was mentioned by terraform labs uh initially and i think it was like their special projects came up with the idea it'll be its own company uh or its own team or its own something uh but why do you think they're well am i completely wrong on that dude is it like uh i guess just because i saw their their head of special projects sj um say hey introducing valkyrie i assumed it was tfl um yeah i haven't seen uh i saw the tweet from from sj as well i figured it was a third party project though so okay well we'll look into that then sure yeah we'll find out somebody asked is valkyrie rebranded buzz like i haven't heard that i don't know if pete's heard that um but i don't think so and then someone else said any news on spar which i also haven't heard any news so um i've just seen a little bit of uh recent like sneak peek videos um some basic twitter activity i don't know i know they're gearing up um whether they're waiting for columbus five or not i don't know but uh can't wait for spar to come out too yeah um all right what else do we have on the agenda here mr k um i uh is that it is that it for agenda well yeah we got some comments maybe to address here yeah how can you start go ahead sorry oh well we got some potential questions to address here like how can you start your own node greg um yeah you can join the terra validators discord uh just a poke around in the in like the official terror discord ask somebody um i'll put try to put a link in the show notes later when the video is processed but you can join the tara validators discord um ask around there you need to have some experience running something like that like like sysadmin experience or you need to know someone who does or hire someone who does because there's no getting around even if you even though the guides are great and you could spin up a node and set up price oracles and everything based on the guides um even if you didn't understand what you were doing that's not the place you want to be in because there's always some kind of issue that's related to the cloud provider or the node you like the the setup you picked or um or issues might come in down the line and you got gotta have somebody who knows their way around a linux box knows their way around like using git and things like that in order to uh to to troubleshoot whether that's you or a friend or a partner or just someone you hire so that's a that's a consideration um and then you come in you uh you get a cloud or bare metal if you want you get a server basically running and uh cloud will probably cost you right now a couple hundred dollars on something like digitalocean um a few hundred dollars on something like uh gcp google cloud provider um and you can also you could consider something like akash decentralized hosting which i don't know if there's a tera validator running on that yet either but then you're adding another right it's it's akash is an earlier stage project so you're adding a level of uncertainty about uh you know the stability of that um so you could consider these options pick a cloud hoster or again run your own bare metal server somewhere um and then uh then you just go through the docs and install everything up you've got to get the main tara like node running and then also the price feeds running and then you submit like a little profile so that you get listed ontario station with your information your name your little icon your description and so on and uh and you're good to go you have to make sure you watch the tara validator discord and you have to make sure that you are on top of updates um and you also want to start considering you know do i how do i put up a sentry node uh like firewall nodes to protect my validator from ddos attacks and things like that um and there's more you could go into but those are the basics uh let's see all right anyone getting some tara fatigue so much to keep up with yeah um i'm gonna hire somebody just to just to make a twitter list and make sure all the current terror projects are in it um just you know today we talked about andromeda evan we talked about andromeda because it was a voting like a proposal a governance proposal right and we talked about it we talked at some length yeah and then this morning i texted evan the new twitter profile for andromeda and it's not that it's not that i didn't think andromeda and their nfts their finance mfts and whatever they're doing is really cool it's just that there's been so many new drops there's like oh another one right oh man all right oh yeah now it's time for the snake okay and as pete goes to get the snake i see a couple people in chat here have uh reminded us the 48 hours um unfortunately we don't have any crazy inside alpha news on what's going to happen in 48 hours but just a little update on what exactly is 48 hours mean um we saw dokwan tweet roughly i'd say 24 hours ago so we're about 24 hours away um but who knows with his timelines um we talked last week about the reserves for anchor and on the borough side how the reserves are beginning to be depleted um he said he's got this the solution the solution um that he's going to come out with he's going to come out with within 48 hours so we're all looking forward to that and here comes the snake yep a request from uh crypto truffle pig and others evan goes full screen for some reason i woke him up he was sleeping so hey buddy there's the ball python for you he uh yeah there we go all right that's a second show with some kind of animal mascot on it last last time we had a rat on the show and this time we have this yellow ball python who's uh you have to change the uh you have to change the thumbnail again to have the the snake on there you're not worried about him like wrapping around your neck there no no they there's that's never happened you know um you even looking at boa stories and it doesn't it doesn't happen uh he just is treating me like a tree you know right so he'll grip but you know no it's not an assassination attempt he knows i'm too big if i were smaller yeah he would eat me it'd be game over oh we got a question here from our friend donkey he said if it's time for questions which new project makes you guys most excited and i wanted to hear your answer on that pete oh man um i am really excited about nebula and maybe that's lame because it's not some alpha on a secret project that nobody knows about um but i just i really want to try out the algorithmic etfs i think that they're going to be interesting i want to make my own you know nebulous nebula is it for me right now what about you um i think i'm i think i i'm most excited about well i'm curious to see what happens with ozone if that ever comes about um so i don't i there's a lot going on out there for sure um nebula is definitely intriguing um i don't know there's like i said there's not really one that sticks out i'm just just excited for the next one that comes out really you know what i mean i think pylons is cool and i mean we've only seen the air drop so far from pylon so um you know we haven't really seen like the full depth of the project and how it's gonna work with the launch pad and things like that so i'm looking forward to see how pylon works see if there's integrations for things um just today i was looking at anchor and on the anchor earned side there's a little tab there that it shows you like hey each week you can earn you know you're expected to earn this much and i was just thinking like man it would be so cool if there was a button there that i could just be like all right click here's my netflix or here's my phone bill you know like let's just let's just have this pay my phone bill um so it'd be cool to see integrations like that uh also very excited for orion and what that brings to the ecosystem and be able to see uh you know once ethereum stable coins can be um added in as well but that also puts some ryan's huge man we gotta get them on the show not only do they have the orion um saver project which is what you're talking about but they've got like payment stuff and orion yield aggregator stuff and i forget that the branding for all of them but uh just some really cool ideas coming down the pipeline yeah absolutely a couple more questions here pete if you want to cover them otherwise we can uh wrap up sure let's cover them real quick uh okay well this isn't really a question ken on john says i think mars will be huge um ton ton says have you guys looked into nod games that spun up a validator they create mobile games with nfts etc i have not seen that pete i'm not sure if you have um i think i've heard of of this i'm looking at their their website right now um i'll share why not also does anyone know is your snake named pliskin no i don't i don't know where that came from no um i i will not answer the implicit question all right so here's nod games pioneering the future i got a couple of games up um so i guess they maybe are looking at doing uh doing this on terra let's see if these click through see if any of these games are actually live uh looks like it um this is league of kingdoms we can apparently start here or go to the app store um the official trailer an mmo strategy game where gamers fight for dominion nfts and so on uh so we have a node here does that are they just doing multiple nodes or um because it looks like there are if they're a blocked o partner they might be on flow but who knows anyway yeah let's go to their twitter and just check this out real quick it doesn't seem like there's anything they're publicly saying anything about parrot it's very interesting that they've started a node and maybe we'll be uh looking for some announcements related to that soon i hope anyway thanks we'll keep an eye on that yasen says you're weird i assume he's talking about you and not me yeah he's talking about me having a snake you know when i was a kid i thought snakes were weird too and like any kid that had a snake was weird but whatever it's a great pet if you like need to leave because and travel because they can like not eat for eight months and be fine you know so it's super low maintenance in some ways yeah i i think uh weird is cool i like your pet snake it brings it brings a lot of entertainment value to the show that we otherwise wouldn't have so somebody asked earlier i i missed the comment but they said who what's the pet going to be next week for the hat trick so what else oh man in the hopper i mean we got a dog um but but that's boring right i feel like i feel like now i should go i feel like now i should go buy like an echidna or something and really top it off you know or like yeah i got a pet kangaroo or yeah yeah my komodo dragon we bought that at the top [Laughter] no returns [Laughter] oh man all right um guys i love all the questions uh we're gonna i mean i know we want to talk about pylon soon but we're coming up on time here so we're gonna have to stall the rest of the questions for another time but please reach out on twitter we'll answer questions there as well if we're online um you can reach out in the comments here sometimes comments go crazy and i miss some so just poke at me if you know you can't get me um and uh yeah and share subscribe rate review thanks so much for watching and help other people discover this ecosystem of terra and stable coins and so much more by discovering terabytes here on youtube and we'll see you next time farewell

Channel: Terra Bites

Views: 3,440

Rating: 4.972414 out of 5

Keywords:

Id: wy_ccR_h_Ho

Length: 55min 46sec (3346 seconds)

Published: Tue Jul 06 2021