RICHARD HEART BREAKING NEWS✅PULSECHAIN PULSEX PROVEX & HEX

Ajouté : 2026-06-02

[00:00:00]While we still have time to build, and the rest of the world is still out there not using pulse chain as yet.

[00:00:05]There's a lot more we could do as hard as it is to look at our portfolios and look at what's there. There's a lot more that we can do to get the right message out. I'm trying not to remove all the liquidity from our own blockchain as we've done in the past. Just because we've got a 10x or a 5x or 100x.

[00:00:19]>> Yeah. 3 years.

[00:00:22]>> [laughter] >> Yeah, man.

[00:00:24]>> Yeah. Yeah, here we are.

[00:00:26]>> [laughter] >> Yeah. But I don't know. I've been listening to you guys for a little bit.

[00:00:30]But I I kind of I align both with what what you're saying and with what Gary's saying. I think it's hard for me to put myself in Richard's shoes. I I think we all like to do this. We're always like, "Why Why is X not happening? Why is Z not happening?" Um the dude has been through some before all of this. And we all we all know the the lore. And the SEC and Finland stuff, which are which are probably related in my eyes. Like I'm I'm kind of like like if I had to guess what happened is, you know, SEC's asking Finland, "Hey, dude. You know where this guy is?" Finland's like, "Oh yeah, we have him." He's like, "Why do you want him?" He's like, "Oh, he got all this money."

[00:01:09]And then Finland's like, "Wait, he what?

[00:01:11]Oh, interesting."

[00:01:13]You know, like like that's probably that's how I would imagine it happened.

[00:01:16]And yeah, you know, and who who the hell knows where he's at right now. I know that article came out and said Dubai.

[00:01:23]That's probably likely, but I I go between personally being like, "Yeah, that makes sense why he's doing what he's doing." And also, "Why are you doing what you're doing?" You know, it's like I internally my emotions go back and forth between those two things. And it's like like to us he is like an Elon Musk. He's just, you know, to us he's that. But I also agree with the fact that like if they got him, like the majority of crypto is going to be like, "Yeah, they got him." You know, we're we're relatively the minority. So >> Yeah.

[00:01:55]>> [sighs] >> But the opportunities are as well, right?

[00:01:59]>> Yeah.

[00:02:00]>> I agree with that as well. So, It's a Pretty much, but I do think PulseChain is good. Like it's not a ghost chain.

[00:02:08]Like that's the only argument that I that I really dislike that gets thrown around a lot is Yeah, it's like even if it's all bots, even if you want to believe it's all bots. Bots don't make 500k transactions a day.

[00:02:21]Unless they're unless they're somehow making money. You know what I mean? It's like a a real ghost chains, there's a lot of them. Like we talked about a little bit about like Eth Pow or Eth Fair or whatever they're named now. It's like it's like it's like 10 transactions a day. It's like genuinely no one uses it.

[00:02:37]>> Wow.

[00:02:38]Yeah, that's crazy.

[00:02:39]>> Yeah, so I I do I think the chain is good. I think it's maintaining what it can the best that it can in this situation.

[00:02:50]And you know, I've been building [ __ ] for too long, but yeah, is what it is.

[00:02:57]>> You're building something right now for all of us, aren't you?

[00:03:01]>> Yeah, I mean that's just what I publicly talked about. I probably have like 30 or 40 projects in the background that are most of which might not might not ever see the light of day, but it's you know, they're just like ideas basically, but um Cappy's the one I think everyone's the most excited about right now.

[00:03:20]Um And that that was a really spur of the moment thing. Um I was I really wanted someone else to build a wallet. And other people have. You've got Liberty Swap, Zcash wallet, you've got internet money.

[00:03:34]Um and some people like those wallets. It's just like the wallet I really liked was Rabby. I was like this is the coolest wallet I've ever used in my life. It's does all this super awesome stuff in the wallet. I don't really have to think that much. If I want to look something up, I can just do it here. I don't have to have 10 web bites open.

[00:03:50]Um So, I really liked Rabby. Um And they left and my my only reason to why they left is it it's expensive. Like Rabby supports a lot of chains. They support a lot of ghost chains.

[00:04:04]>> Yeah.

[00:04:04]>> So, I I think a lot of people look at that and they're like, "Oh, they just hate us." And I don't think I don't think it's true. I think the the biggest problem is the amount that you need to like make Rabby work. It's actually relatively cheap if there's not a lot of transactions. But if there's 500K transactions a day, you know.

[00:04:22]>> I see. I see.

[00:04:23]>> Yeah. Then now now it starts getting expensive. You need a lot of resources to run this thing.

[00:04:28]>> Yeah.

[00:04:29]>> And we didn't have like really great ways for Rabby to make money on fees.

[00:04:33]Like they Rabby doesn't do what MetaMask or MetaMask does and make their own swap contract. They uh try to use like 1 inch or whatever, something they can inject the fee into someone else's contract. Um >> Got you.

[00:04:46]>> So, like any swaps you did in Rabby on PulseChain, like they don't really make anything from that.

[00:04:51]So, you know, I think they just looked at the situation and then they're like, "Dude, this thing's costing us, my guess is probably like 70K a month and we don't make anything from it and you know, it's like like we want to support ghost chains. Like they're really cheap.

[00:05:05]We can support them really cheaply and save you some you know, just mask it a bunch of random small users. So, um I've I've been really big on trying to make a lot of the Rabby stuff work on PulseChain, which is complicated, but um you know.

[00:05:21]>> Hey, Alex, can I can I ask you a question regarding that? In terms of the the fee structure and how they're they went about pricing it for Cappy, as you're building it now, is there something that you're you're creating different with this fee structure to for Cappy to work successfully so that when you step back, it runs and operates without um those same limitations that that Rabby ran into and during >> Uh there's a couple things. One, um, I'm not drawing I'm not spinning up like 500 like our RDS 16K IOPs instances in AWS and I I know a lot of people don't know what that means, but those are very expensive and you would basically have to if you if you want to run you want to run the the kind of data feed that RABBIT needs um, and you want to do it in like Amazon's web service you have to use their big boy RDS instances and you you would rack up bills pretty um, I know like I think Liberty Swap commented on one of my posts and said that they're like their bills that they're paying and they're not even doing like as much deep indexing as I'm doing. Um, they're paying like 7K a month to AWS for these kinds of instances and it's just like at the end of the day I don't think that's tenable. I think if you're going to do it that way and you're going to rack up a 70K a month bill like you have to be charging stupid fees no one will use your wallet. So, um, I'm stripping away the things from RABBIT that I think are not as necessary to like lighten that load a little bit and then I'm also kind of adding my own sprinkle of things that I think are important like that I would want to know like as like a blockchain nerd guy.

[00:06:58]So, um, I'm also doing it not in the cloud specifically. I'm running some beefy hardware myself.

[00:07:05]Uh, you know, it actually ends up being cheaper than than running it from somebody else and that keeps that cost lower whether the fee system I'm doing like actually pays for it I don't know.

[00:07:16]Like part of that is like I pay for that anyway cuz like some people um, yeah, like there's there's a lot of stats websites um, that use like various HEX APIs that I've made or that I host. Um, so like you know, be able to show their data feeds.

[00:07:31]There's some people using my RPC for their stuff cuz the pulse chain was isn't fast enough and um, so it's like to a degree I kind of run some of the stuff I need anyways, but um, yeah, it's like I hope I hope it I hope everyone likes it and it does make enough that I can cover its own bills and it just a nice awesome thing forever.

[00:07:49]I don't know if that'll be the case, but I'm willing to at least try it cuz I think having that having a wallet that like not only has a lot of stuff integrated, but tells you what is happening all the time and it's relatively quick about it.

[00:08:03]I think it's important.

[00:08:04]>> Right. I I agree with you. We we've needed we've needed and and this is this is and it's still from you from and and from the community. We've needed something like Ruby as a wallet. This is true. Most of us enjoyed using it. Um but having something like that in the community whilst other wallets do exist, community members there there wallets that exist, but there's some there's some features that are actually beneficial in how they operate. For example, there is a feature inside Ruby that allows you to convert all your dust tokens. What do I mean by that? Like your tokens of way smaller value that you're probably not looking to trade or have as a part of your your your your portfolio over time, right? And you could just simply group all of those in one transaction and sell it for the native asset on the on the chain.

[00:08:45]Something as simple as that because somebody like me I I onboarded a lot of people here in Jamaica locally on one point or another doing my free classes.

[00:08:52]And after a while, you wanted people to just hold the native asset as best as they can because some of those other assets were falling much faster.

[00:08:59]And it was it became a problem. And we we we don't have that one feature across any other wallets. So for those of you who are not familiar, if you want, just go look at Ruby wallet and when you just open it, the it's you scroll up a little bit and you'll see in the feature list there's something that says um convert dust, right? So a very simple feature, but very effective and it helps. It it it it helped a lot of people when once I figured out how to kind of integrate it, but even though um in inside Ruby wallet Alex, if you want to add a custom network like PulseChain, you still aren't able to view any of the assets even after doing that. So we're really looking forward to what you're building with Capty. I think it would be a great tool for the community.

[00:09:35]>> Yeah, it will definitely not launch with convert dust. Convert dust runs a really weird way. Um >> Yeah. Yeah. Yeah.

[00:09:42]>> But, uh I I understand its value, for sure. I think that the biggest thing that convert dust is you basically just make a bunch of ERC-20 approvals to like a centralized third-party thing that they run, and then um they rake you over the coals, but they collect everybody's dust. And so, like they're not really trying to get Like if you look at what they're actually doing is like, "Okay, everyone's got like a little bit of this thing, a little bit of that thing. We'll give them ETH.

[00:10:06]We'll, you know, they can lose 20% cuz they don't care, it's dust." And then >> Right.

[00:10:10]>> But, if we collect enough dust, all of a sudden we don't have dust anymore. Now we have some value. So, that's kind of how they're running that. Um >> Right.

[00:10:19]>> But, it's a little complicated to to make that work. So, I that will not be a version one thing.

[00:10:24]>> For sure. For sure.

[00:10:28]>> Yeah, everything else like auto the website has all the most of the things that I've implemented like all the detection, the pricing, um all the stuff. Like I only really care about supporting Ethereum and PulseChain right now cuz I think that's what the majority of us care about. Um adding another chain is I'm I'm honest I don't think I have the resources to do it right now. So, it's like like if I can hit those two and it can work really well and you can use the PulseChain bridge and wallet. That's the biggest thing to me is like I want to be able to be able to go to someone who like knows nothing about PulseChain. That's like the biggest thing I think about is like you want to onboard someone into PulseChain cuz forever you know, they think it's cool, they think it's cool, whatever. Right now, it's like, "Okay, well you can use your net money, you can use CKX wallet." I actually haven't used that one yet, so I I don't know how well it works, but I assume it works pretty well. Um some people are using OKX wallet. And it's like, "Okay, you can have this wallet, and then all right, now you got to go to this website, and then we got to go do this. We got to move the token here, and then do that thing, and now you're here. Now you're on PulseChain."

[00:11:28]It's like, "Why can't we just have a button that It does it?" It's like I just want to go from A to B, and be done.

[00:11:33]>> Yeah.

[00:11:34]>> you think they'll have the upgrades?

[00:11:35]When do you think they'll start doing like the up-to-date Ethereum upgrade?

[00:11:38]Cuz he hasn't done any forks yet, upgrade now.

[00:11:41]>> More upgrades, more risk, right? Give that stuff time to play out on ETH. Let all the hacks happen there.

[00:11:47]>> That's what I was saying to Famous. I I think Richard would say why, like it's not broken. So, I'm just going to wait.

[00:11:53]If there's something like detrimental, then yeah, he'll take it, right? If there's something huge, like security thing, yeah, I'm sure they'll implement that fast. But like, why? Why bother for now? Don't really need to. It's fine where it is.

[00:12:03]>> Transactions are cheap enough. Like if it starts being 10 bucks a transaction like on ETH, then, you know, like consistently, not just one weird day, then we'll all be freaking rich, and we'll be okay with paying 10 bucks.

[00:12:16]>> Uh and the one thing I'll add to it is like, I I think a lot of people look at the GitLab and think, "Oh, this hasn't been updated since 2024 or whatever on on the at least on the execution side."

[00:12:28]And they're like, "Oh, the the devs aren't devving, right?" Like that's like, "Oh, they're not doing nothing." And I think it's it's probably not true, cuz if you look at the consensus side, like they pushed an update out like a month ago to fix some bug that some people didn't upgrade to, and then we had like a little blip in the chain time that everyone freaked out about for no reason, but you know, like clearly they're there, they're doing it.

[00:12:54]I don't think they've ever in the history of PulseChain, I don't think they've ever like published the things they are working on until they're published.

[00:13:01]There's almost certainly like a private GitLab where things that they're working on are are in transit, and then they don't ever push it to the main GitLab we all see until it's like, "Oh, here's the new release." Um but yeah, I agree with the sentiment that also that like it works fine. I would like the Pectra update personally, cuz like 7702 would be cool to have, but is it necessary? Not really.

[00:13:23]>> Totally, I would so love that upgrade.

[00:13:25]That would be awesome. I've been waiting on that for years.

[00:13:29]>> Yeah, that's just a big one cuz it lets you delegate call, which is dangerous, by the way. If you ever have a contract on PulseChain that like makes heavy use of delegate call, Jesus Christ, like that needs looked at. But, it's nice in the sense that if you want to mass handle your token approvals or batch send tokens, you don't need another contract to do it. You can just do that as like a single multi call like just directly to the chain. And I I think that is a useful thing.

[00:13:55]>> Yeah, it'd be great for scammers to drain wallets with, eh?

[00:13:57]>> It'd be It'd be super quick.

[00:13:59]>> Indeed. So handy.

[00:14:01]>> But, I mean, that also goes into my motivation for Cappy was just like like why am I still using Rabby?

[00:14:07]>> Three years, please.

[00:14:07]>> It's going to be so much more fun.

[00:14:09]>> Happy happy uh PulseChain anniversary three years. I didn't think we'd be this down. Um I I didn't think we'd be insanely insanely high, but I [clears throat] thought we'd be somewhere, you know, all-time high, but, you know, for the next year hopefully we get there. Cheers.

[00:14:23]>> Another four cycles.

[00:14:25]>> Four years, cheers.

[00:14:26]>> Four years like next year's this year's day.

[00:14:29]>> Uh >> Uh >> Yeah, we find a bottom relatively soon, and then uh it's plain sailing.

[00:14:36]Plenty of fun. Might take a while to, you know, really pick up steam, but it's going to be long as I mean, long as the bottom bottom bottom is in, then you know you're fine.

[00:14:45]You just get to chill. Three years.

[00:14:46]>> bottom bottom.

[00:14:47]>> [ __ ] just dips.

[00:14:48]>> Question about the Sigma protocol.

[00:14:52]I I remember you talking about cross cross-chain swaps. Is it ever going to be possible to stake eHEX on the PulseChain PulseChain side with bridged over eHEX?

[00:15:05]>> I want to do it. I've had a plan to do it for a while. The big thing you need in Layer Zero really [ __ ] my idea on this. Layer Zero is like I was like, "Oh man, it's perfect. We should implement this on PulseChain. We should do all And then Kelt got rekt." Um now, of course, like Kelt did some negligent stuff as well. Like it's not like it's all Layer Zero's fault, but to agree, like, you know, it pointed out that this Layer Zero thing is just not really decent is decentralized as in, you know, not in the way that it needed to be.

[00:15:36]And that's like the hardest piece of all this is like at what point do you accept bridge risk built into a protocol?

[00:15:44]We have a bridge, it seems pretty stout.

[00:15:46]It's a little slow. Obviously, the throughput could be better. But at the end of the day, it seems to be holding pretty well.

[00:15:54]And we've got a lot of smart people here that have done a lot of things and if someone could have figured out how to rug that bridge, I'd knock on wood, but you can if you if you go down this path, if I go we're going to build everything across the PulseChain bridge, and then the bridge gets hacked, you know, hacked or whatever, and you've built admin key lists, immutable things on both sides of it that trust the bridge, like you can't fix those things. And that's the piece I really don't want to do. You know, and you can put admin keys in it and you can put an admin key in it and you can just put an off switch, but then you have an admin key and an off switch, which is, you know, I think as a community, like admin keys and off switches are like super popular everywhere else, but on PulseChain, it's like it's almost like we have a community that's like, "No, [ __ ] this. We're not going to have admin keys. We're not going to do this bullshit."

[00:16:44]You know, where we can. It's like like if the goal is to not be that, then it it's it's such a conflict of interest where I'm like, you know, we really I really would like to figure out how to do it. I have some ideas with like zero knowledge proofs.

[00:16:59]I'd like to see how Prove It plays out once it gets a little more fleshed out.

[00:17:02]I'd like the UI to be better. And, you know, like I know I know a lot of people don't think it's that great. I think it can be.

[00:17:10]Like obviously, the UI's a little rough right now, but in a wallet, like if I like I really want to integrate Prove It into Caffee where it's like oh yeah, I could just Venmo my Cappy wallet to extract value out of that, then those scripts do that.

[00:17:24]And a lot of it's it's called MEVs like a blanket term, but that's more or less how they work.

[00:17:30]And you can subvert that in a couple of ways, but the easiest way is by just not using the mempool. You have your own private RPC, you have your own validators, and you just basically tell all the validators in your little private little section of the pulse chain, "Hey, I'm going to pay you a little extra money to not going to do this."

[00:17:48]>> So, is that going to be available for your pro edition of Cappy? Cuz it's something I would definitely pay for.

[00:17:55]>> Yeah, that's the intent. So, I have the private RPC part where we strip we strip all the metadata out, right? So, like if you whatever RPC you're using for pulse chain, whenever you send a transaction like the actual internet metadata that's like your IP address, whatever other bit they want to inject in the request headers, all that goes to the RPC guy. If the RPC guy you trust you know, it isn't being sold it's like maybe he doesn't look at it, right? But maybe he does look at it. Maybe he's like, "Huh, well, this wallet uses my RPC a lot. I see this IP. Okay, hopefully you're using a VPN, but if you're not I have a pretty good idea where you are. It's like, "Oh, look, all these wallets come from the same IP. I wonder, this might these might all be the same people." Um you know, so like and what I what what Cappy will do day one on a on a pro subscription is just basically cut all that out and send your transaction through Cappy through the Cappy API's internal RPC. And so, it's like the only person you really have to trust is me, but you can look in the the wallet code and be like, "Okay, well, it's stripping all the headers. So, technically uh like if I'm a bad actor, I would know maybe what your IP address and wallet address are." Um you could use VPN to obscure that, but then once we do this that piece of it and then it to the rest of the chain like, we're not reiterating the metadata anywhere else. We're just going to like be like, "Okay, we're doing all this stuff." So, if they see a transaction coming from our RPC, like in the mempool, right? If all the other validators are like, "Okay, transaction came from this wallet.

[00:19:25]Uh this is the Cappy RPC." All they know is like, "Hey, this transaction came from someone using Cappy wallet."

[00:19:32]And we could hide that, too. We could run our through like 10 different VPNs and then it would be really hard to figure out exactly and to stagger all the transactions across them. So, like that's a piece I I care about now.

[00:19:44]The validator private pool, avoiding the mempool stuff, you need a lot of validators. So, like that's that's a later thing.

[00:19:51]Cuz you have to be able to Cuz like the downside of that whole like you have your own private validator pool that isn't going to MEV you is you need enough validators to ensure that whatever transaction you made actually gets validated in a reasonable amount of time. Like you know it's going to be slower than 10 seconds. It's not going to be the next block. But if it's not in the next 60 seconds, your swap might hit deadline and then your swap fails and you pay gas for no reason. So, there's you know, there's elements to that that have to be properly figured out.

[00:20:21]>> What do you think your timescale is for offering that service?

[00:20:25]>> That the second piece of it, I'm I'm not sure. I mean, if a bunch of people if I say, "Hey, here's a validator pool you guys want to all join." And a bunch of people join, it can be done really quickly.

[00:20:36]It's but it's just a factor of who wants to participate and then what's our what's our like a structure on who who agrees with that piece, right? Cuz I mean, obviously we have validators on chain that like the MEV. Right? If we didn't they wouldn't be doing it.

[00:20:52]>> I think executive is going to be a client. He needs it.

[00:20:56]>> Me, too.

[00:20:56]>> So, Alex, I've noticed that the Hedron wallet with the the largest amount of Hedron has been dropping, I think 100 million clips and transferring, I think about is it 5 trillion clips over to the wallet in in sort of chunks. Um, I'm assuming that you have control over that wallet, and I've been picking up as much of it as I can as it's being dropped, but um, are are you in control of that wallet, and is there a reason? My my theory that I I think I put in live spaces was that there's a got to be a lot of hedrons in the system, and you're doing a redistrib- redistribution before you launch V2. Is that correct?

[00:21:41]>> No comment.

[00:21:43]>> Uh, the other thing I was going to ask you is, um, a long time ago when we were rewinding, is it 2 years to the Watsons?

[00:21:52]I think it's quite a long time now when um, I was part of your art team, um, and I contributed to the Watson artwork. Um, I sent you a DM cuz I think that the Watson the Watson artists were allowed to designate Watson their own artwork to some of the Watsons.

[00:22:13]Um, I did send you a list, but I never got a reply. I sent you some animated gifts. I think they were quite unique cuz I don't think anyone else was doing animated gifts. Do you remember getting my uh DM? And if not, can I resend you a DM and um and allocate the the Watsons that I would like as a what?

[00:22:35]>> Uh, yeah, that's fine. Um, I'm actually going to do So, one of the things I'm I can't say which platform cuz it is what it is, but >> How you feel about the position of Richard's food delivery driver in Dubai?

[00:22:46]>> Uh, I think it's in Russia, but otherwise correct. Uh, I mean I think about him a lot. Like, imagine like imagine that you are Richard, and you want to eat a sandwich. How do you eat the sandwich if you're Richard Heart? Um, do you have a guy that is the one that takes the sandwich from the Uber delivery driver and delivers it to you or is Richard himself actually interfacing with random Uber delivery drivers or does he have a guy and how much does he pay the guy that is between him and the Uber delivery guy?

[00:23:19]>> Richard is a transvestite. Richard can >> Or does he just not eat sandwiches?

[00:23:24]>> So does I imagine I'm Richard, do I still live on top of a sandwich shop or not anymore?

[00:23:31]>> I think I think if you are Richard, you probably do live on top of a sandwich shop but sometimes the sandwich shop may be closed and they're like it may be like it's not open 24/7. So there may be some hours where you like need a sandwich but how do you do it if you're Richard? Like do you actually like I'm serious like how do you how do you get the sandwich?

[00:23:50]>> in Turkey or in Dubai?

[00:23:52]>> I think you're in I think you're in Russia at this point.

[00:23:55]>> I'm in okay then in that case I will I will directly talk to the Uber drivers.

[00:24:02]>> But what do what do you do what do you do if the Uber guy is like wait are you Richard?

[00:24:07]>> What do you do?

[00:24:08]>> Eric, did you not see the article that the Finnish authorities wrote the Finnish media wrote about Richard?

[00:24:13]>> Yeah I saw I saw they got they got his watches and the >> No no the new one.

[00:24:17]>> Yeah.

[00:24:18]>> New one? When? What?

[00:24:20]>> Yeah.

[00:24:20]>> My man's in Dubai bro.

[00:24:22]>> He's in Dubai bro.

[00:24:22]>> Really?

[00:24:23]>> Yeah.

[00:24:24]They're basically begging him to come home and pay pay them some money.

[00:24:28]>> He blocked me when I said hi Richard and I know you're in Dubai blocked me straight away straight away months ago.

[00:24:36]>> So what what what exactly is the Swedish the Finnish government alleging that's Richard? Like how did it how do they know that he's in Dubai?

[00:24:44]>> They don't say how they know.

[00:24:45]>> They don't cuz he blocked them.

[00:24:48]>> They do offer a discount however if you know he were to come forward and pay there's a discount on the table from the Finnish government.

[00:24:55]>> Yeah.

[00:24:55]>> Yeah.

[00:24:56]>> That doesn't make any sense. So Rich Richard is in Dubai, but all the clips that he makes is like him looking like he hasn't seen a ray of sun in like ages. So, is he like in a Dubai bunker?

[00:25:07]Somewhere like Dubai is a pretty sunny place. So, you would expect to see him >> Actually, if you if you look at the videos that the ones of late, he's a bit red in the face and has like you can tell you know when someone wears sunglasses and they get like a a tan around them and you can see the >> Yeah, I don't think that's what it is. I think that tan looks very much like he's getting some type of like um uh some kind of treatment. Yeah, micro needling, something like that.

[00:25:35]>> I thought it was like a rejuvenation or something.

[00:25:38]Isn't that what it's called?

[00:25:39]>> No, I think it's just like he is, you know, turning he's above 40 now. So, like age and you know, he hasn't been taking great care of his body. He's been overweight for substantial portion of of his life. So, like he's not he's going to have to >> He's got >> And maybe some peptides.

[00:25:56]You know, Richard doesn't read messages.

[00:25:59]Uh it's it's a shame that this is the 3-year Polkadot anniversary and you don't get Richard, but you get like me like talking about what Richard would do if he was if he tried to order a sandwich or something.

[00:26:12]>> Yeah, it is, bro.

[00:26:14]>> So, the theory is that he is in Dubai, but he doesn't see any sun and he gets these like treatments to look younger and he's hiding in Dubai somewhere.

[00:26:25]Okay.

[00:26:25]>> He may be in a place called Chiva Wellness.

[00:26:29]It's a wellness resort focused on longevity.

[00:26:34]>> Okay.

[00:26:35]>> That's good.

[00:26:36]That's >> It's it's it's a shame that we can't use the how much was it? Was it like 20 million or 30 million that was donated to the Sense Foundation that that Aubrey guy who got the money that he turned out >> He made a coin somewhere else straight after. Never made it on Pulse Chain. He made it somewhere else.

[00:26:54]Straight after he got that money like a year later.

[00:26:57]>> He didn't get the money. So, what happened was that the money got locked into the SENS Foundation and I, as I understand it, none of it went to any of Aubrey's research.

[00:27:05]>> Yeah, he lost it.

[00:27:06]>> Because Aubrey had like a sexual harassment allegation against him or something.

[00:27:09]>> I did research on this one.

[00:27:11]>> I think all the money just got squandered essentially paying the SENS Foundation to do nothing.

[00:27:16]>> There was two lawsuits. [laughter] There was two lawsuits. I think 10 million of it was raked back basically to like a couple of investors. And then I didn't read the second lawsuit, but the rest the remainder was just administrative costs.

[00:27:29]>> It was interesting to hear what you were saying, Alex.

[00:27:31]>> I know it's a a necessary evil and it's forms of happens a lot on Ethereum to the point where the block building is very centralized now and what that means is if I effects steps in, they can start adding restrictions on what can and can't be transacted, which is something I sort of looked at on Pulse Chain. Do I Do we really want our chain to be like that? Do you want it to have that sort of exposure? And look, it's only a matter of time before it all happens on Pulse Chain, but at the moment I was enjoying not having that centralization.

[00:28:05]But if there's a if there's the a way to do it that's not detrimental to the chain or the community, then we're all for it.

[00:28:12]We understand it's going to happen. So, that was our sort of position on it was you if there's a way to do it where it's just not one entity that's being massively extracting, then we're all for it. So, if you've got some ideas, Alex, I'd be happy to chat and see what we could possibly do with it.

[00:28:30]There's a couple of other people have hit me up as well, so it's it's coming.

[00:28:33]There is no doubt it's coming to the chain.

[00:28:36]I'll just like to do it in a in a better way that's supportive for the chain.

[00:28:39]>> Yeah, the one thing that's really hard with it is the the idea of it, right?

[00:28:45]Like of basically organizing transactions and extracting value out of it is there's a winner.

[00:28:51]Right? Ultimately. Um on Ethereum like everyone uses the same centralized entity because that centralized entity is the best at extracting value.

[00:29:01]And I I also agree. I think if we can like based on like what I think the majority of us believe in if we can avoid that that's ideal.

[00:29:11]Um and I think it's just a really hard problem. Cuz like you know aside from like what are you going to do? Build a MEV blockchain on top of post chain and two chains and then you know like maybe maybe [snorts] you do that.

[00:29:23]>> But yeah, like I I feel for it because I it's one of those things that like I hate that that it has to exist um and I understand why it exists and I hate that it has a natural progressive tendency towards mass centralization because someone will just be better at it than someone else.

[00:29:42]>> Yeah, yeah.

[00:29:43]>> Sorry you got Giga.

[00:29:44]>> No, I was just going to say I mean we do have pretty large pools pockets sitting here there you know like voucher being one and I mean those those participants can behave in a way that I mean you could be reeling your own building right? Like couldn't you? I mean I'm not I'm not an expert in this so forgive me if I'm misunderstanding here but you you could be building these transactions where it's not screwing these people or where it's just protecting them right? I mean you don't have to you know take take the value out of those transactions or or would you would you offload all of that to builders and then just provide the validation you know or or is it both?

[00:30:23]>> Yeah, so that's that's the thing I haven't delved into the actual process of building the block so I don't know what's involved like obviously as I think it was Alex said the tech the the infrastructure side of it there is all open source but probably the secret source is in how you how you you the blocks and I'm I'm totally honest I haven't bothered to look into that in any great depth.

[00:30:45]>> Yeah, the the secret's definitely in in that block building, for sure.

[00:30:49]>> Yeah, the the conversation I had most recently with another well-known team on the chain, which I won't say at this point in time cuz it was a confidential conversation, is how can we do it and return any extracted value back to the participants of the chain, so you're not just it's not just someone extracting value and it's and the value's leaving the chain, so they're just taking all the value and and and it's getting bridged straight out. How is there a way to put it back into the community somehow?

[00:31:16]>> Well, that's I think I think the typically the pools that are accepting that, you know, those those blocks are just basically providing the service of providing the validation, whereas they're offloading the difficulty in the in the math and the in actually how they're assembling that block into the the end user or I I don't know if that's the right word, but um I feel like because because at that that point you're just basically saying here all of the difficult stuff um I'm offloading. I'm just taking a big chunk of whatever it is you're doing and uh >> Yeah. And I'll push it through, right?

[00:31:49]>> Yeah, so basically you have a someone that has the the smarts to to build the block and then we would point our validators to their um their I think they call it a relay service or something like that where we would essentially get the block from them and then pose that block.

[00:32:06]>> Right. So the trick would then have be having to be the builder and the validator. If if you're wanting to try to preserve the value as much as possible.

[00:32:14]>> Yeah, yeah, cuz what So obviously as the block proposer, you would you you already get the priority fees, but if you go through a a block proposer, then you get more fees, but they probably take the lion's share. So it it's going to that I don't know how the splits work or how that goes on behind the scenes in Ethereum and how they negotiate rates and things like that.

[00:32:34]>> So >> but the block builder has a fair bit of power in that scenario. Uh sorry, the block proposed the the person that constructs the the block to be proposed.

[00:32:44]>> The the interesting thing we have that is different than Ethereum is um and maybe really became a thing before staking before like validation. It was really a mining thing and the mining portion of Ethereum especially when Ethereum is down and these guys are spending buku bucks on electricity to mine Ethereum while losing money on the Ethereum itself. Um MEV was born out of a a a need for profit no matter what. Um they were just going to do and use whoever gave them the most money. Um we don't really have that problem on post aid. We don't have the legacy of that uh behind us. So I I do think there are people who are validators or that are participating in liquid staking that um are more altruistic in their thinking because the cost of the validation is is insignificant. So I I I think there's an opportunity to do it. Um it's just not letting it go down the path of like oh I'm just going to take whatever block makes me the most money cuz if you go down that ankle then we will end up in uh the Ethereum part and I think you could easily democratize it.

[00:33:51]Like effectively you know the proposer is pretty disconnected from the relay service and the relay service fairly disconnected from the the validator. So you know like they the the proposer piece of it like the whoever's building it and shoving it in proposer that's the part that's like the secret sauce but um you you'd come up with some proposer that has a payback system or a relay that democratizes fees I think. Um would it be centralized? Yes, but um it might be better.

[00:34:20]>> Do that and that's the that's what we're seeing. Do you do you let other people do that and then run the risk of everything being extracted anyway or do you step in and say look it's something I didn't really want to have happen but it's there's a need for it. But and sim- similar to what you're doing with Cappy, like you you didn't ever want to build a wallet, but there was a need for it.

[00:34:39]>> Yeah, yeah, more or less.

[00:34:41]>> I think >> I didn't I didn't mean to take it over too much with this talking point, but yeah, I I felt like um I felt like it's something that has to be coming and if it's not coming, then it's not a good sign um because there's clearly there's clearly value to be extracted from and with with the way, you know, AI and everything else is moving. I I see no reason why it's not going to be uh pursued more aggressively. So I I've kind of just been in this place where I'm like, why is this not happened yet?

[00:35:09]If it's not happened yet, it's going to be happening soon. And if it is happening soon, are we prepared for it?

[00:35:14]So that's kind of why I've been I've been talking about it a little bit.

[00:35:18]>> Mhm. Yeah, you know, it's definitely it's it's bound to happen and we probably need to get in front of it and and deal with it in a the best way we can, but you're right, value gets extracted whether it's at the block level or with um uh bots or whatever.

[00:35:31]There's there's always some opportunity there that people are going to take advantage of. So yeah, maybe maybe this is the the point where we can start having better conversations about how we deal with it.

[00:35:40]>> Yeah, cool. I think I think there's a lot more people too who've just I mean, there hasn't been a ton of data, so everyone's just been trying to learn how everything works.

[00:35:48]>> I'll hit you up anyway, Alex, and see if we can get a few few brains together and >> Yeah, it's something I've I've played with, but it hasn't been something I put a ton of effort into it just cuz of the the complexity, but um I do think I think it's it's an inevitability probably and the thing you probably don't want to happen just from a like I guess a morality standpoint is probably like someone comes out with this new liquid staking protocol that has it and it's in the the worst possible way. It says, "Everyone come here to do you make more money."

[00:36:22]Yeah. Not everyone will buy into that, but you know.

[00:36:26]That, you know, one of the main driving factors for my reasoning behind all this is is um there is a particular person who is uh I've been acquiring a whole lot of validators and they've been signaling um that they plan on using that power um to kind of influence things the way they want it to be. So, and and I know like it's like okay, block the address or or block a transaction and just wait 10 seconds for the next block, but >> Yeah, it I mean regardless it's uh it's a thing >> What you guys think needs to happen for like majority of the community to feel the same type of euphoria and high we felt, you know, back in '21 when the charts were just exploding, right? Like I'm not saying just price, like is it just Richard coming back and streaming?

[00:37:10][clears throat] Is it price going up? Is it a combination of both? Like that's where when Alex was talking about it, I feel like I go back and forth. I have dry powder where I want to invest, but then I'm like, dude, is this market just never going to come back? Like I'm not sure, right? So, you know, I'm torn.

[00:37:26]Sometimes I I'm ready to just ape a 100k in. Other days I'm like, that could be stupid, you know?

[00:37:32]>> Well, I'm just curious to hear your thoughts, bro.

[00:37:34]>> Yeah, I don't know if I'm DCA'ing anymore, man. I've been DCA'ing for the last 3 years, it's been brutal.

[00:37:39]Honestly, I'm not all inning anything into this community anymore. I have plenty in the Richard Heart community.

[00:37:44]I'm just saying at these lows it feels >> Yeah.

[00:37:48]>> it feels dumb not to scoop some more up, but at at what point do you just say, hey man, it's it's a lost cause?

[00:37:54]>> No.

[00:37:55]>> know.

[00:37:56]When when are you comfy with your risk?

[00:37:57]That's That's it. That's literally it.

[00:38:00]>> So, I I guess answer my question though. Is it Richard coming back? If Richard never comes back and the charts start going up, are you happy? At what Okay, it's it's just number go up at this point then, right?

[00:38:11]>> Of course.

[00:38:12]>> Would you feel more comfortable investing if he did? Like let's say tomorrow he's comes back, clears the air.

[00:38:18]>> Bro, I'd ape I'd ape so hard, it'd it would joke.

[00:38:21]>> Fair enough. Yeah, I mean that's kind of how I feel, man. I mean, if he came back, let's say tomorrow I get a notification Richard Heart's streaming.

[00:38:27]Who's the heir on the last three years?

[00:38:29]>> Yeah, dude, it's going to be seven x.

[00:38:31]>> Consistently streaming, I mean, it would explode.

[00:38:34]>> Yeah, yeah, it would.

[00:38:35]>> Well, yeah, I mean, I'm I'm in a similar boat as Gary. I didn't have 70 million at the top, but I mean, I was a deca-millionaire at the top. So, watching that [ __ ] around trip.

[00:38:44]>> Bro, so >> Yeah.

[00:38:46]>> Well, the thing is, bro, as as the it's Think of it as you're buying like a leverage play on next cycle. So, as it curls up, yeah, we we might lag just until people's sentiment switches.

[00:38:58]So, when people start to confirm, like, "Okay, we're actually, you know, the timeline adds up. We're actually in a bull market now."

[00:39:05]They will start to follow that chart, dude. They they will they will start buying back into this chain heavily.

[00:39:11]>> Mhm.

[00:39:11]>> Or even just on the speculative aspect of it, like, "Oh, what if Richard does return? Even if it's in a year's time, getting a position now heading into a bull run for three years? Like, you kidding me?"

[00:39:22]>> Perfect.

[00:39:22]>> Right.

[00:39:23]>> Um it'll be a domino effect. There's there's plenty of dry powder on this chain, plenty. That's why when we drop out of this range, people keep buying it. Um yeah, that's good. It's good, man.

[00:39:33]>> All right, I appreciate you guys letting me up here.

[00:39:36]>> Yeah, anytime, bro.

[00:39:37]>> Another question about something that you posted recently. I noticed that I don't know whether it was a hint or whether you actually said it. I can't quite remember the post, but you said that what's a unit what's holders will be distributed some of the Sigma airdrop.

[00:39:56]And I just wondered, will Icosohedron holders get any of the Sigma airdrop?

[00:40:02]>> Yeah, I'll I'll release updates on Sigma as we get closer to it, but the only thing I've said publicly so far is the what's a will be able to claim a portion of the original Sigma allocation when that happens.

[00:40:17]>> Oh, well, that's great. And is there anything else you can tell us about, you know, your progress with Sigma that hasn't already been released?

[00:40:25]>> Um I don't I don't I don't really know if people know a lot about it. It's uh it's obviously complicated to to a lot of people. Um the best way I can describe it is it is pump tires, but you instead of you creating meme coins, you create um immutable decentralized ETFs effectively. And um those ETFs are designed in such a way that people who enjoy doing arbitrage on chain can use those ETFs to get gain some free basically just pay the gas and get a um get a free win and the entire ETF wins when that happens. Um it's not just like one guy extracting value.

[00:41:05]So, that's kind of the core idea of it and then the the Dow token um is largely just there. It can't really do anything from the sense of like Okay, I really don't like this thing. I'm not going to allow it. It's more of like setting guidelines. So, like one of the examples I'll give is um the Dow can set the maximum range of fees that are allowed.

[00:41:26]So, like it can't say, "Hey, this particular DTF charges these fees now."

[00:41:30]That's up to that DTF and the people who are participating in that DTF, but it can say, "Hey, we don't want anyone to be able to set a fee above 5%," right?

[00:41:40]Like it's it's unreasonable that we allow any DTF to set this a fee above this. Um and 5% is probably good just too, but it's just an example. So, that way like the Dow's kind of there like just kind of forming the general guidelines of what is what the DTFs live within and then the individual DTFs themselves and the people participating in that um can figure out within those guidelines where uh they want to land.

[00:42:07]>> So, is it in in effect like a user-created index of say, let's say I've got three coins and I want to group them together.

[00:42:17]Um, is it user Is it Is it a user function where the user can actually group that group of say pump tires and um tokens together?

[00:42:29]>> Yeah, it's not just pump tires tokens.

[00:42:30]It's It's any token on the chain. But yes, if if you say like I really like, you know, hex, pulse x, and ink and I want to put those into a equal weighted ET, you know, decentralized ETF effectively.

[00:42:43]Um, you can just do that. The The only thing you're restricted on is what the base token is, which is how everything is valued together. So like, um, you know, there there'll be a relatively same list in the beginning and the the DAO can vote to add more or remove some later if they need to, but that base token is how every like every DTF is priced. So like let's just say WPLS is a base token.

[00:43:06]Um, the basically you would go and say, "Hey, I want the base token to be WPLS.

[00:43:11]I want pulse x, ink, and hex to be a part of this and we'll make it equal weighted." Then you just create that index and that index becomes its own ERC20 or PRC20 token that you can um and that token is redeemable for the constituent assets in that index. And when you mint it, uh, you just mint it by putting in the base token and it all the swap stuff just happens.

[00:43:38]>> No, it it all sounds really really exciting. Um, obviously without making any commitments, um, have you got an estimated time when the the community might see the beta?

[00:43:51]>> Um, I'd like to do it somewhat soon. The The thing I don't really like The only thing that's really in flux is how to launch it. Like like um I have some ideas on it, but I don't really There's like some fine tuning I want to do, but effectively as a like proof of concept as far as like the contracts go, I'm basically done with that. Uh there's some custom indexing stuff that I had to do to make it actually performant. That piece is completely done.

[00:44:19]Um the web UI I think probably still needs some tweaks. So, I think the the right thing to do would be to put on testnet and then let people like relatively soon put it on testnet and let people just play with it and learn it and then um see what people like about it, what they don't like about it, what's a and what kind of UI tweaks people want to see because like to a degree like, you know, I when I write software I largely don't super talk about it till it's basically um a sure thing that I want to do and um but that also means I operate kind of within an echo chamber. So, I need to get through the, you know, how do people actually want this thing to work um before it's uh an actual public thing.

[00:45:02]So, so testnet soon. That's the short answer. Um I'm mostly just, you know, at this stage kind of just playing with it myself and then trying to think deeply like did is it achieving all the things that I want it to do? Is it Is it got the right incentives? Does it, you know, does it does it actually bring tangible benefit cuz like if I don't feel like it brings tangible benefit I I don't typically like to do it. Not that I'm always going to be the the right person there, but it's like that that's kind of just like how I internally like to operate.

[00:45:31]>> What was it that you said about that Watsa again?

[00:45:34]Um I I'm pretty sure I still have that NFT from years ago. I haven't done anything with it. Yeah, that's Send me it's worthless.

[00:45:40]>> When when this does launch and this will actually be on this piece of it will be on testnet. Um the Watsa NFTs get a allocation of the the Dow token.

[00:45:49]>> Okay, nice.

[00:45:50]>> Good. We we need, you know, we need demand and we got to figure out how to market it. At some point at some point we just got to figure out how to market and how to get the bid.

[00:46:01]Because none of this matters without the bid. That's all.

[00:46:04]>> Well, in manners, you know, if I have a really cool collection of toothpicks, it's not like it's worth anything.

[00:46:12]>> But, it's still my really cool collection of toothpicks that I value.

[00:46:16]>> [laughter] >> Right?

[00:46:18]>> I I agree. I agree.

[00:46:19]>> No, I'm just messing around, bro. I got I know what you mean.

[00:46:23]>> You know, I I love it. I I love it. I love the community. I love all of this more than probably everybody here, but we got to get the bid. We got to get the marketing.

[00:46:34]At some point, we got to take it seriously, and we can't care what everybody thinks.

[00:46:41]We can't care. We we got We just We can't care, and we got to just sell it.

[00:46:46]We got to market it. We got to get that bid.

[00:46:49]>> I might be the only one who thinks this, uh but, you know, it's like all the like crazy marketing stuff we as a community did through the HEX run-up. With a lot of it was insane, you know. And it was enjoyable. Don't get me wrong. I loved to see it. It was fun.

[00:47:04]Um I think we've leveled up, you know, like in in the in a sense of legitimacy and like people are trying to do actual cool innovative new things. Like there's a there's so much happening on chain.

[00:47:15]Like And And I think a lot of people don't see it because it's not publicized particularly well. Um but, like when you when you index stuff, like you just like see contracts like come across when you're then just like when you're like, "What the hell is that thing?" And half the time you don't know what it is cuz nobody verified it, and it's probably a honeypot or something like that. But, sometimes you do see it, and you're like, "Oh, this is interesting. This is kind of a cool thing. I wonder who's this is." And you know, you don't really find out um you don't really find out until they are public about it, or maybe they just never public about it, and then it was just an idea, and it didn't you know, they never finished it. Who knows?

[00:47:51]But, you my point is is like you see all these things happening, and everyone's kind of doing their own thing now. It's not a it's not like the days of HEX where everyone was unilateral in one full movement. It is many small movements working together.

[00:48:05]Um and when I think about the future of that, but for one, I think it gives us a lot of legitimacy, but two, um when I think about like any kind of marketing for PulseChain in a sense, like I I would like to see some kind of like unified thing. Like and I know there's been contention in the past about some PulseChain Foundation thing. I've talked about it a bunch. Um not that anyone has a lot of funds right now to to figure that out, but um I think it looks proper to to have that. Um and how you structure it, I don't know. How you run it, I don't know. Like, you know, we're just now talking about the MEV thing, which is a thing we should be talking about, but um is a complicated thing. And figuring out what PulseChain is going to be as a as its own outright thing, I think is is another discussion to probably the community needs to have at some point in the future. Um to you know, like what's our image? What are we about? I mean, I can think of things. I can think of like, you know, self-sovereignty. I can think of, you know, anonymity to a degree. Um immutability, like I don't know of a blockchain community that knows more about how blockchain works than this one at all. Um it's crazy how much people know in this chain. And a lot of that was out of like self like you had to, right? It's like when HEX was up and it's like only on Uniswap, but you had to you can learn how MetaMask and Uniswap work. And HEX effectively carried Uniswap on its back.

[00:49:36]It is a crazy thing. And like is is that Like, so I don't know what our image is, but I do think we should at some point when it comes to like marketing or like figuring out what this is, I I think that figuring out what that image is is somewhat important. Um but I also understand that's difficult when everyone's kind of focused on their own things that they're building.