Keynote by Juan Molina - Community Lead, Scroll

All right. Well, hello everyone. For those who don't for those of you who don't know me, I'm Juan Molina. I'm from Honduras. I've been at TCO for a couple years now.

Um, and very happy to be in Argentina in my home region in LA uh speaking about uh this uh new vision that we're building at scroll uh around this new stable coin called USX. So today you're going to hear about uh uh what we conceive as the evolution of money um which is already live cuz you're going to be able to try it out uh starting today. So let's get into it. So first and foremost, let me tell you what is USX. And USX is uh the first spendable private and gasless neo dollar.

Uh that's a that's a bunch of words, a bunch of uh big words, but uh what is a neo dollar? So Neo dollar just brings us to um you know open up uh what is the stable coin landscape right now that we're all users of um and what were the things that uh these stable coins were missing out on right so many stable coins really just apply to one of two use cases either payments or yield right so at scroll we built infra and we built uh this really powerful uh CK layer or two and uh we thought that we could build out a stable coin from the ground up uh with you know as many superpowers as possible, right? Um so going back to those flaws that or like those potential opportunities that we saw uh in the stable coin landscape today, we noticed that the you know yields or benefits and incentives in these stable coins are either very low or volatile returns, right? it's it's there's no consistency, there's no uh much value there. Um there's no privacy and there's cost for every single transaction and it's very complex to spend, right?

So you know we have bunch of USD stable coins and bunch of non-USD stable coins nowadays but uh you know still shops don't accept these or you know stores don't accept these yet. So it's very tough to still like spend them right now. We had the narrative around the you know the cryptocards which is you know helping this out massively but uh it is still you know a common theme across the board with you know stable coins in general. So we're introducing USX right the first NEO dollar. It's everything you expect for money but more.

Um and this can only be achieved by the power of scrolls uh layer 2 stack right so uh from very high yields uh 12% estimated yields with uh dual yield strategies between onchain yield and market neutral strategies zero gas fees so imagine like the stable coin operating free uh within scroll powered by CK right so there's a there's a trust component component here that uh we need to we need to um uh give to users and that's achieved by using CK. So, it's not me telling you, "No, we're using math to make sure that the uh you know, there's a trust layer built upon this stable coin." Um, and privacy built in thanks to Cloak, a product that was just released by Scroll, which allows for uh transactions to run privately on Scroll. And there's this amazing product that, you know, we've been collaborating on on uh Scroll with uh for the past couple months called Ether Cash. How many of you have uh used Ether Fight Cash out there?

Oh yeah, it's pretty good. It's pretty good. Uh so and and then last but not least, this stable coin will absolutely be fully collateralized and oneonone redeemable with USDC. So you know we're taking what is a simple stable coin and you know like USDC with a lot of adoption a lot of uh u mutability in the ecosystem and we're giving it a few superpowers that are achieved by you know the power that our CK layer 2 uh has been built for right so now we are able to give all these incentives and benefits to this stable coin and we think this is the concept of this new dollar it's no longer a stable coin this is like really money at its you know at its core for it's the new essence essence of money and yeah I mean going back to this uh you know powered by CK technology uh this this has to do with building a CK layer uh CK attestation layer between these uh yield uh yield bearing strategies and the stable coin uh so that the edge is never lost right but we need to provide transparency and uh making sure that all of uh uh all of the operations behind USX are more than transparent especially with latest uh events in the in the in the stable coin ecosystem. This is a key component to USX is making sure that there's a as much transparency behind it as possible.

uh and it's not again it's all powered by CK uh technology and then a very complex issue that the stable coins have been facing is not getting to the institutional grade adoption due to privacy uh and we're going to be testing out this new approach with cloak which is a previdium on scroll that will allow for usx to operate privately um so how does USX work it should be relatively simple for users uh this is part of like the whole idea um you have USDC USDC is uh you know very highly adopted all you need to do is deposit that US USDC to get USX 101 conversion um and to receive these sorts of uh yields and and and these other incentives you'll just stake it right receiving effectively SUSX um and then on the step three you're you know you just got to sit on your SUSX and earn for 12% plus yields and other incentives uh behind it. We have blend protocol who manages the risk and we have other uh off-chain uh market neutral strategies that are able to provide these you know consistent high uh percentage yields protected by a CK layer which allows us to maintain the edge at all times and I mean as I said earlier this morning UX is now live no longer on pre-epositive stage you can now go to usx capital and you can actually trade or deposit from any network, any any act any asset and then trade for USX today. Uh, additionally, you'll already see our points dashboard that uh, you know, is basically meant to uh, for users to support the USX ecosystem by providing liquidity or by using certain protocols around USX uh, to uh, increase adoption. And finally, you'll of course you're going to see a dashboard with uh you know how much USX you have, how much you're earning, how much uh does that uh forecast in the future as well. Um and the and the the the bread and butter part here around us is a is a second product that I'm just going to bring some alpha for to this uh audience which is garden.

Garden is going to be USX's home for saving on chain. So this is a fully abstracted platform that we're building for you know normal users for USD uh you know users around the world to onboard into a high yield savings account on chain um and we're calling it garden with a with a UX component for you to see your assets grow in value right it's very cute it's very fun you you you'll love it uh you can expect garden to be live in the next couple weeks Um, so to wrap it up here, I mean, this is all part of Scroll's next big arc, right? Uh, for those of you who don't know, we've launched mainet for a year now, and we've been through uh many, many, many different events and and and changes, and we've decided upon this new big arc where we're focused on a flywheel between our own native ecosystem builders and projects, Ether Cash, USX, Honeypop, Garden, and many more out there. Um and SCR entering a a new phase in its uh value proposition stage where now SCR is no longer just a governance token but it's more than that. It's uh it's it's going to acrue value by uh generating different revenues from all of our native ecosystems um ventures.

This is how it looks like right. So, STR becomes a machine for the whole ecosystem. We're making sure that whatever engagements we're building around uh our ecosystem, be it etheri, USX, Honeypop or any other of those um projects building natively on scroll. Make making sure that all these add value back to SCR and SCR token holders in our community. Um and this is going to prove that uh you know building the stack, the infrastructure and now building the ecosystem within it.

uh you know closing all that loop and that flywheel will uh mark this new era for scroll. So with that I mean the evolution of money for us is already here. Our tech has been able to enable it. Uh so for users and founders out there please make use of it. If you have any other questions if you want to know more about any of these things please come by.

I'll stick around here around the event. Um so yeah users and founders this is your chain. Thank you very much everyone.