Louis Bellet - From digital chaos to harmony - TOKEN2049 Singapore 2025

from the digital chaos to harmony the missing layer between the chains and the application. So this is going to be um little more blockchain technology infrastructure talk rather than treasury and finance though we are a finance company. So, a few guys in the audience maybe you can answer the following question. Um, raise your hand if you think we have enough blockchain out there. Okay.

One, thank two, three. So, do you think we should build second question? You guys think we should build another blockchain to resolve the usability problem? Raise your hand. So, let's get into it.

So, do you think the next breakthrough will rather come from a new layer one or a layer two or maybe a layer that's going to hide all of this? First, let me introduce myself. Why I will be talking about the digital chaos. I'm Louis Ble, a nerd. I'm the co-founder of Yellow, the architect of our protocol, the Yellow Network.

For the last 10 years, uh we at Yellow have been a traditional trading firm. Think more of Wall Street for Web 3. uh like a prop trading shop. We are mostly into high frequency trading, low latency and market making. So basically in our team we get pretty excited about saving microsconds and doing arbitrage between centralized exchange.

And all of these things while we work in crypto are web two technologies, good old APIs and um TCP IP. Let's speak about the core problem. The web free adoption is stuck. We have an amazing ramp for uh raising capital. Uh we have a lot of ecosystem hackathons developers building but yet um the big event is not happening.

There is no more user coming to blockchain and the adoption is stuck. I can say maybe since the last three years I can say of course there is more and more traders more and more people who like to gamble meme coins etc. When we started our journey at Yellow, uh we were really excited about all of this technology. Yellow is already 10 years old as I mentioned. And what makes blockchain amazing and powerful is the diversity.

The fact that anyone can come up and launch a new L1, start a new L2 from the garage. Now you have SDK for doing that. And since this we have seen hundreds maybe thousands of new blockchain emerging. But this is also this diversity uh the biggest usability nightmare. Um you have heard this problem before though I think we should still talk about it.

Um so in this amazing universe of diversity and technology um every planet has their own law of physics. So for the developer it's a bit of a headache. It's this is the exact roadblock for the mass adoption. If the developer can't develop the proper products we're not going to have uh this mass adoption event. the what I like to call it the Pokemon Go moment.

This is what blockchain needs, you know, and those billions of users, they really don't care about installing a wallet or whatever. Um, they would like to ignore this complexity and catch them all. That's it. They want the magic of blockchain without the messy interchain communication. You might have heard all of this protocol and we're adding more and more protocol to fix um the good old problem the initial problem.

So our experience in the last years we have been working on a defy protocol to decentralize trading. it's uh on the t-shirt. Um and um out of some hackathon happened last year in Taipei. Um we have discovered maybe an interesting approach. Uh but first I want to mention about maybe together let's take a step back and think about like how did the internet solve this?

How did we scale? How did the internet reach uh mass adoption? Well, let's think about maybe Amazon Web Services, AVS. They took hundreds of complex cloud product services and created a single platform where the developer have a unified way to build on. Now you don't need to be an expert in server infrastructure to launch a website anymore.

So the developer they just come and go and use these amazing platform Google cloud, Azure and they just build they build product that can go to market quickly and this is what web 3 does need. This is exactly what happened at the yellow network. Um it's a layer free technology built on top of the blockchain chaos. It's not another blockchain. We are creating a chain abstraction layer that spans across multiple chains.

We're offering a web to style uh developer experience, APIs, TCP IP, servers, IPs and um we let them use whatever programming framework that they like. There is no limitation on how they architect their product and it's not as restrictive as smart contract and front-end code for example. So they can finally focus on really what they do best building amazing product that will create the mass adoption that we all need so much in our industry. How does it work? So the yellow network um is a constellation of nodes uh TCP IP nodes communicating together and connected to blockchain through what we call state channels.

Um I like to make the analogy of state channel with little elevators which are state channel smart contract or code that we deploy in all of the layer one layer two out there and they allow you to um elevate the state back to a unified layer. Um on this layer the the developer is able to have this web two experience and access all of the different blockchain state seamlessly. Once you get there you have a beautiful unified space a constellation of liquidity and functionality. Think of it just as the VPN for blockchain creating a single virtual layer out of many different ecosystem. In the last five acon, simply by putting this SDK out there, we got dexes, perpetual decks, per uh prediction market apps building on it, payment apps, games, collective and real time uh strategy games, real world asset platform.

I fixed the typo yesterday. Um so while trying to focus on fixing trading um through you know the Etherum foundation and all of the other hackathon we've built this new layer empower the developer creativity to create very quickly new apps that help them focus really on their problem and not anymore on how do you make this work on world chain. How are you going to make this work on Solana? Wait, so there is more. As I said, we've been specialized in building trading application and very soon we are launching NODAX uh which is a turnkey solution opensource.

This is low operating expense, low capital expenditure. You do not need a $5 million check to build a new perpetual deck. anymore. Uh the technology is out there because we have built the infrastructure and those components are open source and available to you. Um so now you can build your own aster for example under a few hours.

So some of the traction um I I would say it been about five hackathon. Every hackathon has been very uh exciting with a lot of progress and amazingly positive feedback. uh we kind of the only guys not building a blockchain. So um that attracts some uh attention and we've been genuinely surprised by the result. Um we started as a solution to our own trading problem and it turns out to be something much bigger.

So we now believe into uh that this could be a path for the industry to think about I'm inventing you to think about building new layers on top of blockchain and thinking about those developers uh counting into the millions who use for example Google cloud and Amazon web services. We've been taking risk with this innovative approach. It's been paying off. It's been accelerating in the last year for us. Um, and I believe that we won't be fixing our problem by repeating over and over the same pattern.

So, it's time to build to stop building more fragmented road and start building the highways connecting them. It's start to it's time to start making web free as simple and intuitive as we all grew up with. Thank you guys.