Degens & Dragons - Bangkok 2024

[Music] uh good day everybody how are you doing it's been a long day okay um let me ask you a couple of questions first who knows what Octon is can you raise your hand okay I'll give like a short intro about Octon who knows knows uh about deons what are the this kind of creatures right okay most of you know but still some don't so I'll I'll get to this as well oh thank you um is this is better okay yeah further okay thank you very much so first on I'm going to tell you about our mission our mission is to become the first self- sustaining Global public goods funding ecosystem that both balances the common good and individual Financial Empowerment because we believe that we need to fund public goods and and common good projects but also we need to recognize people and reward them and I don't know if any of you know this thing over there is actually octant and uh in the ear a day Sailors they use this device to navigate the sea to get to where they wanted to go hence this is the name of our project so the way Octan works right now we as a gem Foundation we have a treasury of 100,000 eth and we stake it in ethereum uh consensus protocol to create a renewable funding stream and we run uh recurring or rounds that happen every 3 months and we fund public goods and we reward user participation um the distribution of funds happening between matching rewards and user rewards as you can see on the scheme uh golden Foundation puts the money in the staken protocol puts eth into the staken protocol and then rewards going through our Octon app where it's distributed between the users who can withdraw but they also can donate project uh donate funding to uh different projects so effectively you have a choice uh to uh decide how much you want to take to yourself and how much you want to donate to projects so this is creates this holistic system where you both rewarded for participation and you can uh you can decide how much you want to give to the projects the interesting part of this mechanism is that the more you donate the larger leverage and the larger the matching you get from the funds that we allocate to the projects so you can think about it in a way that 35% of all the staking rewards that we generate put into the matching fund right and then around 20% go to the users and then based on our stats around 95% of people claim their rewards without donating but those 5% actually decide how the funding is distributed so usually the funding is around 350 eth per this quarter um so this is how our oh this is I need to switch here sorry so uh this is how octant app looks like and this is the some of the projects from the Lost funding rounds these are the amounts of e they receive um and you can see also some other stats there will be a c code in the end if you want to play a little bit with the with the app and so what we achieved so far we distributed over 2,000 eth both to the projects and the users uh you can see some of the projects on the slides we funded over 60 projects during the last year uh we are trying to focus on small amount of projects compared to some other grants program that have larger amount of participants that receive smaller funding we actually uh try to focus specifically on uh choosing through the community voting around 30 projects per ook per round and then distribute the funds uh through the community voting mechanism to them so that's what octant in nutshell and um right now I want to talk to you a little bit about what we call as a code name digons and dragons and how the next iteration of Octan is going to look like so the key of Octan is sustainability uh public goods funding in the space is not sustainable because it's not connected to Capital yes we have different mechanisms to how allocate funding but the funding itself comes into in different ways and usually this happens through human relationships and so sustainable public goods funding requires capital and allocation which is basically voting on how to distribute the funds and we have this thinking that it's actually an active process that needs to happen and connect on the technological level not only on the human level so our vision is to efficiently capture and deploy the capital in this space into Octon protocol or Octon V2 and then plug it into different allocation mechanisms you can think about it as we are connecting d space with regenerative Finance so wow that's a reaction um the the first iteration of Octon as I showed just now uses Sol Stak in of our capital but this is just the first iteration we're working with different liquid staking protocols we are working with Landing protocols we're trying to combine all this mechanisms to create this holistic pipeline of all these projects that right now only reward individuals without connecting to regenerative use cases but instead create this pipeline that will both reward people but also fund the projects that are not profit oriented and don't have REM re revenue streams so why we call them digons and Dragons um so we have this metaphor that digons are this creatures the seed on pile of gold uh this came actually from the way of thinking about ourselves because we had the substantial funding generated from 2016 and this funding was not really spent and so we were like a dragon sitting on the pile of gold and usually that's what dragons do they see on pile of gold they don't want to get out of this pile of gold and it doesn't sound like really an efficient way to deal with capital so we plug this into staking and we generate over a million dollars I think more now in a quarter and actually this is a very substantial amount of money right so we are inviting other projects that have substantial amount of funding whether through fundraising event or through different ways to create a treasury to plug their capital in the protocol that we are creating right now and then both fund their community and fund public goods and so these are the examples of the Dragons as how we're thinking about them I don't know if any anyone of you knows what this project is in the middle anybody remember this project right three three hands it's EOS um that raised around $4 billion um I don't know what's happening with this money I think they turn into like Capital management firm or something you have to do something with the money right so um we really think that Capital has to serve the community and so there are other like if we expand this mapor they are modern day dragons uh they hatch funds they are corporations um the corporations like Google and Amazon and others they definitely created value in the world but the the problem is they decide how the algorithms will run if we are talking about social networks search engines car sharing apps they're usually chosen by small group of people They don't serve a community they serve the shareholders and this is like the largest scale we're thinking about and this Capital that is accumulated in a small amount of people needs to serve the community instead of just serving uh the uh small group of people on the top now I W to say a couple of things about this term called Financial analism so Financial nailism is this idea of um trying to uh use money to get get rich quick and that's how a lot of people see crypto right that's how many people see digons and many people think that that's everything what crypto is about but if we look deeper there is a h systemic economic challenges that led to to the current situation and the young people they in a very hard position they cannot buy a house they cannot get enough money through the salaries to sustain their families and a lot of people turn to so-called dig games because they cannot buy a house they think okay I'm going to put $10 into a meme coin and see if it going to play out and and this financial nihilism goes hand inand with the term populism because it's basically saying like if this system doesn't work for me I'm going to do something different that's what populism is also about it refers to the groups of people who are who feel neglected and so this is the diagram that shows the difference in the generation and from like 50s or 60s until 80s Boomers bought all the houses and then we see the the rise of the prices of the real estate and then financial crisis and the Millennials turn 25 around this time and uh this diagram shows the amount of share of the total real estate by the generations so uh this is like 33% of the baby boomer generations with 17% and 30% millennial generation so we see the very specific Trend um and in general the the state of the current economical system is uh in a very tough position especially for the young people so there's supposed to be a gif where's like like big dude with two axes jumping down but it's a PDF so you don't see it but um I can see it here um uh that's a that's a very interesting m it kind of represents this jump right how do what do you do how do you move on with in this in this vibrant space in this uh fast changing environment in the world and so we are thinking that dragons held the majority of the capital but these gion they represent this vibrant uh energy that actually uh represent how Crypton moves on they are not necessarily focused on refi use cases but people and we need to understand them and meet them where they are if you spend time in different dig protocols or on farcaster you can see how people interact between each other they play with new tools and we need to help them we need to bridge the gap and help them get on board and understand why we're doing what we're doing here so they embody this Spirit of innovation and risk risk-taking and so what we're doing with Octan V2 we empower the Dragons by creating the protocol giving the mechanisms to plug their treasury into Capital generating yield generating mechanisms to fund impactful Ventures and public goods and we mobilizing digion and regions as well people who already like in the refi space and understand why we're doing what we're doing to uh provide their preferences right because everything we do with Octon gitcoin and other grants program in a democratic way we try to find ways to capture user preferences to find what's important because at the end of the day most of us value the same things most of us value privacy we value peace we value open source and if we are if we tap into the bigger amount of uh into the large groups of people we believe that we can actually reach better results than we have now with the uh either government uh ways to fund public goods or other mechanisms there are in place so yeah I mean dragons need to recognize their responsibility there's only one place where the funny can come from um and so that's how we as golden Foundation act in we try to lead by uh an example and so as I said before we have this uh substantial funding originated from 2016 we stake in this in proof of stake uh protocol using our own infrastructure and then we are trying to tap into existing liquid staking protocols and defi space so just a quick overview of how V2 actually going to look like I'm going to I explain what dragons are we also assume that dragons usually have a token that allows them to have the same instance of what octant right now is right so the way octant works and I think I didn't mention that so in order for you to participate you need to use a token because we need to filter people we need to understand who is a part of the community and people deposit the token in our case a glm token and they get rewards that they can fund on into public goods and so if we're talking about other dragons it could be layers too like optimism arbitrum cell and others that already have uh some amount of capital but they don't have to be that they don't necessarily have to be that way um they can plug into an instance of a different Dragon just if they have just capital and so we also have this term of regions and we think about them as tax heavy value driven individuals and we have Deion who are usually financially driven and I'm going to explain on why this is important so this is a flywheel of Octan V2 and as you can see the dragons are over here what they're doing they are depositing their capital and we are thinking like millions and millions of dollars right into the dragon volts dragons volts are representations of D5 volts connected to uh multi- safe wallet in which they will be able to manage the funding they can also apply plug in a funding stream directly so let's say they already have a capital somewhere let's say they have $100 million in a mechanism that generates sustainable yield so they can just plug it directly and put it over here but we provide infrastructure for them to do that and decide how this yield is going to be generated doesn't mean they have to put everything into the public goods there are different ways of how they can manage this and then the capital is deployed in the strategies and then the have the the mechanism puts the yield and gives this into the sustainable public goods funding but also the re we reward user participation or dragons in this case reward user particip participation and with this funding that streamed from the defi regions or like internal users as you can think about them can vote in funding that's effectively what is happening right now with uh with octant so then some kind of impact is produced and we have a me mechanism that will allow to reward impactful projects that leads to flourishing ecosystem ideally right and we also have the Deion that can set up their own volts and they don't have to put as much funding into uh into public goods funding they don't have to put anything at all but we have a mechanism where dragons can tap into that potential they can find dig gain and reward them for specific uh participation and in a way we create a competition for dig um uh attention through through this mechanism so uh this is how one instance of a dragon is going to look like so you can think about Golden foundation for example we deposit this into this Dragon Vault that is connected to the safe wallet distributed different yield generating strategies and we have this three main destinations that we call Dragon pole sustainability pole and region Vault so this is the place where users I'm actually going to go to the next slide because it has a definitions of those things so the dragon vault is a D5 volt that allows to deploy the capital Dragon pole is the pole that specifically funds the ecosystem so if it's optimism ecosystem or arbitrum they can use that renewable stream to fund their uh their community and um the region vault is this defi Vault that allows the community members to receive rewards and use them to fund public goods uh sustainability pool is the Cornerstone of our design the the sustainability pool you can think as a sovereign wealth fund of web 3 so this is the project that this is the part of the uh uh project that creates this place for for renewable stream to fund all the etherium public goods um so I'm seeing that the time is up I have more beautiful diagrams but I'm not going to show them to you today uh maybe another time but I think I covered everything that I wanted to talk to you about so thank you for the attention and um unleash the dragon thank you [Applause] [Music]