Liquid Apps I Prabal Banerjee

[Music] like to bring on Pubble from Avail to tell you all about Liquid Apps. Please give him a big round of applause. Thank you. Hi everyone. Um thanks for joining and thanks Eth Global for you know organizing these amazing events time and time again.

I would uh today would like to talk about something that we are introducing as liquid apps. I want to kind of again uh take Austin's uh uh cue here and say more about some of the what to build but also a little bit about what are the tools that are there to actually enable you from you know getting your flight ticket to the private jet journey right um so that's uh kind of what I want to talk about today so um I think I don't to prime this crowd too much but web 3 is really changing and very very fast. If uh when I was uh you know there uh attending some of these events uh around I would say 9 years back uh web 3 was completely different. It had very little options very little tooling very little kind of information out there. But not only that the adoption right now is just breathtaking.

I mean you must have seen all the recent announcements all across and you must have been you know thinking that there is a there's a lot of FOMO out there. There's a lot of FOMO within me within probably a little bit about among all of you but there's a lot of FOMO across the entire financial space and web 2 all around the entire tech space is thinking what to do with web 3 and within that kind of traction what we are seeing right now is there's a lot of chains. So if you are a developer you must be thinking like okay every every day or every week there is a new chain that is launching a new chain coming up with its own primitives with its own tooling with its own virtual machine with its own compiler with its own language with its own block times with its own decentralization factors with it own sequencers etc etc etc and how as a developer do I know which chain to build on and within these chains my user needs to account navigate a lot of bridges. So when I'm trying to attract a user, the user's journey is not seamless if my choice of the chain is bad. So my responsibility as a developer kind of increases.

My you know responsibility to the user kind of increases because I have to think about their user experience. I just cannot think about only my developer experience and argue that the de the the users are going to come. It's not. And this is the scenario right. So it you have more chains which leads to liquidity fragmentation which means that the assets are just lying all around for the users.

With more liquidity fragmentation you will have the UX complexity kind of increases. The UX starts degrading because the user has to go through multiple hooves to actually use your app. That means that you you do some sacrifices. Everything comes with trade-offs, right? And sometimes those trade-offs come down to security trade-off.

And when you do some kind of security trade-offs, it leads to weaker composibility because the moment you start trading off with security, the moment others start, you know, staying away from you because you have made a lousy choice on security, right? So that's the that's the you know liquidity flywheel that we have been able to create in this multi-chain economy and that's where we want to come in and say like no this is not the best thing to do right we can do better but sadly this is the as a developer for you this is the experience that is you have to go through today so if you the step one for you is to think about okay I will now choose a chain what does this chain have the chain will have a lock and mint style you know bridge from one chain to other. So if you are building on base, base has this native bridge from Ethereum to base and that is you know that is how your that the chain gets liquidity ideally and then you your app will get only the liquidity that is as available on base right so your target customers squarely are the are a subset of the customers of base. Okay, you cover that. But then what you want to do is you want to now abstract the native bridge complexities, right?

No one uses native bridge. If you if a user is using native bridge of base, they are having to wait for 7 days of withdrawal. Think of what that means for your application. Your application user has to wait for 7 days to get their funds if they start using the native bridge. Of course, no one uses that, right?

So what you do is you go and start looking for liquidity bridging based on boarding. Great. Now you have onboarded using liquidity bridges but then you want to have solvers who actually talk to your applications and enable you to to have the user onboarding journey being simplified. Okay. you do that and you you have you know partners like let's say across like particle and others who who let you cover that before that also there are pure liquidity based bridges before that there is you know wormole across etc etc which try to help you all along the way so it's not that you know I'm I'm trying to give you a grim picture of what the state of web 3 is there are exactly there are solutions all of these solutions work really well kudos to them for able to you know cover like help us cover ground here but we want to do better.

So this is where we want to talk about a concept called liquid apps and this we want to unable enable through avail nexus. Essentially we want to categorize what does a liquid app mean? A liquid app might mean like you know you get liquidity from any chain like you can get users to onboard any other chain from your application itself or get liquidity from some other application back to your chain. It can also mean you communicate across multiple chains and your app sits on top. Think of a today has I think more than 10 deployments if I'm not wrong.

And what that means is for AWE to actually scale there's it's a lot of pain that they have to go through. Every chain is unique. Each of their deployments have to be audited have to be you know thought about in terms of what the language is their contracts let's say is in solidity but now they are there in aptos I think if I'm not wrong. So apttos is a very different VM and so on and so forth. So that's the de that's the application journey.

I mean we of course if we are to you know realize the vision that Austin said for us to to go in private jets then we have to think on the a scale right because a is the biggest application that you can see today. So that would mean that we want to be able to capture the user set of all these chains not just one chain and you also want to think about how to make the user journey seamless. So it's not only about liquidity, it's not only about communication, it's not only about user assets. But think of the friction that it brings to the user. If you are an application like I don't know maybe today you like last week it was all about aster I think.

So if you are some user even like forget the developer if you are a user and you are thinking like oh am I missing out on aster let me just go and use aster just go and use aster and see the UX right the UX on aster is amazing but to get to aster is the issue right you need to have funds here and then bridge to there and then bridge to there this is the unless you of course have assets readily available on the base chain right and that's what we want to change. We want to basically shortcircuit the entire experience. We want devs to be able to deploy applications on any chain of their choice while the user set to be available across multiple chains. That's what we want to enable. And how do we enable that is we are focusing we want to take care of all the back end all the steps we want to take care of where you will give your user a simple SDK uh that you will integrate into your front end and the user is now able to see their unified balance across multiple chains they're not having to think about which asset they hold they need to think about which asset they want to ape on so think of it like I think few days back I was looking at gauntlet and the gauntlet uh front end has you know something like a 20% APY on a stable coin I forget what stable coin because it's hard to keep track of which stable coin today is giving the highest APY right but if I want to ape into that particular vault I have to start thinking about the asset right because I don't have that asset and I don't know you know what kind of hooves I have to cross to get into get to that asset And that's where Nexus helps.

The SDK will take care of getting the swabs done on chains that are supporting those applications in the cheapest way possible through the bridges which are already existing in that ecosystem. Right? So that's where we want to get to. So single deployment tap into liquidity and users from n different chains. We want to actually live to the you know the tagline that we use that is build once scale everywhere.

We want you to build only once but be able to scale to every users that are out there irrespective of their allegiances or irrespective of your allegiances. So as a developer I have been you know developing and I'm seeing you know I've been attending these hackathons and you know you know sometimes we are talked about you know that we we are chasing a bounty. I don't think it's wrong, right? Like we have to we have to also go and think about how do we get that first thousand dollars, right? What is the first reward that we get?

So there is nothing wrong when a developer chooses a chain or an application or a tool set or a or something based on some grand that they got because that is uh that is their prerogative, right? But it is important to have the right tooling to be able to cater to users irrespective of which grant you got, right? or or which airdrop is the user hopeful of. We want to be c we want to be able to cater to all these communities. So this is I would I I would love to take that analogy.

Sorry Austin if you uh if you mind that but this is this is me buying my ticket. This is my private jet right and I'm not kidding really right. uh if you think of if you are building let's say base is one of the best examples and best developer tooling best ecosystems best community everything right but the amount of liquidity that you can hold suppose you're building a stable coin app on base just by tapping into nexus you get almost 13x more user liquidity just by tapping into nexus because base although it is amazing thing but the amount of stable coin that is there on base is incomparable to something like Ethereum right and the user does not care about all of this they should not care about all of this if we if the entire financial rail is coming onchain then this vision cannot be realized by doing uh you know clan style chain chain level huristics right we have to think bigger we have to think grander and that's what we want to enable through liquid apps Okay, I think there will be enough talk. Let's We have to see this in action. Enough promises, enough talks about new concepts every day.

We want to be seeing like you know, okay, can you show me what this means? So the first one that I will show is a demo on hyperlquid that we had released some days back. Let's see it and then I will probably go through a bit. Heat. [Music] Heat.

N. [Music] Heat. Heat. I will try to walk you through what you saw here. Right.

So the first thing that I would like to point out, you must be thinking that oh this is an extension. This is not an extension. We wanted to inject that SDK on the hyperlquid front end and of course we cannot go and change a hyperlquid front end. So what we had to do is we had to inject it using the extension but this is the flow what it would look like when the SDK is baked into the front end. The next thing that happened is the user didn't have funds or arbitrum.

I don't know whether you guys realize but to be able to get into hyperlquid the first thing you need to do is get into arbitrum and from arbitrum then there's a bridge to um hyperlquid we wanted to short circuit that so what we did is even if the user didn't have funds we get the liquidity from other chains you saw I think three chains here we support 12 plus chains today on mainnet and more on testnet and all of them got combined balances across multiple different venues. So as a developer, this can be the experience there. Doesn't matter where the users are, they will be able to get into it. All the things will be done. There will be explorer links.

So it's not like we are doing something shady here. All the things are attributable. The user will take consent. You know, you have to authorize whatever you have to do. We are trying with 7702 to make that as simplified as possible.

But of course, every every each one of these things happens in a non-custodial manner. So we are not taking funds custody while doing this. Next I want to show something else. [Music] [Applause] the same implementation but in a slightly different format. This was a on ae you don't have the funds on that particular chain.

You bring those funds from others. As a developer, one of the major concerns is user retention. The moment your user leaves your browser screen, there's a big chance that they will not come back. So the moment you force them to use a bridge to do the bridging and then come back, you know, half of the time you get so frustrated just navigating those bridges that you don't even come back, right? like how many days have you I don't know whether you guys are all using it regularly or not if you are then you are better than me I use it almost you know once every week like all these experiences just to try things out and for my own personal finance but it's so hard like you have to think about which bridge to go on what is the chain that is supported what is the asset that is supported you know where will I swap it is the when I swap it will I get better liquidity on the source chain on the destination chain right whether doing that do I have the corresponding you know stable coin for example or the native token or is it gas full experience you know where do I get the gas tokens I bridge it and then I see there's no gas token now I have to go to gas relay get the gas things and so on and so forth you know it I do not need to explain things to you but this is the kind of experience that we want to enable multiple chains all the balances shown in one place all the funds being able to accumulate in one place that's the power of liquid apps we want to offer For superior DevX, there's a headless component.

So, it can be in your own branding. But if you want to play with our, you know, inbuilt components, be be our guest. There are UI components built in. Uh, it it definitely takes a few hours. Like, and this is not kidding.

I'm not saying a threeliner integration, although it is a threeliner integration because I know you guys are educated power devs. So, I cannot just fake it through. uh it is actually a threeliner integration but to be able to show its full potential you have to do a few more changes like you know you have to show somewhere that what the unified balance is or what their chain native balance is and things like that. So but overall it is actually only takes a few hours to get it integrated. You know we do not want to fight on solver fees but the solver fees are actually very very competitive.

Um that is the entire experience is extremely extremely fast. That is the main reason why we do not want to use native bridges or existing bridges. We wanted to use liquidity because that's the fastest way to get funds done. All the security risks reside with the solvers. Solvers are educated players, sophisticated players who are doing the security hedging so to say.

So the user is not exposed to the to the risks of all the bridging that is taking place. Only the solver is doing so. So your users are safe. uh we support both EVM and non-evm chains. We are expanding to Solana very very soon but we are also already support some of the more esoteric VMs like a fuel LVM and so on on Ethereum um base layer and then there is you know resource locks v contracts and secure deposits and etc etc.

So everything you know about intents it's it's all there baked in. These are the some of the UI widgets. You know you have a nexus deposit transaction you know everything we will be able to you know easily integrate into your front end uh without much of trouble. But if you want to go through the entire trouble and show your own branding and show your own user flows use the headless. That's the nexus effect.

Uh 12 plus chains is what we support today. We hope to offer you no pain but no pain no gain as uh Austin and Karthik has well established but uh get in touch with us if this excites you and looking forward to talking more on the sidelines. Thank you. [Music]