NEXUS Startup Competition Pitch - Byzantine Finance - TOKEN2049 Singapore 2024

awesome hello everyone so I'm G I'm the co and co-founder of byzantin finance and I would love to ask you guys a question here how many people here are staking on multiple protocols at the same time by raise of hands ooh I actually expected zero but let me explain you why so in staking when the tvl increase in the most famous protocols the APR is maintained right because the Bitcoin chain will simply emit more interest and therefore the the APR is maintained over time but raking this is not the case because in restating the ab's budgets are fixed this means that when the tvl increase in the most famous avss options the rewards will constantly decrease over time right so this means that RIS taking actually offers a cryptoeconomic incentive for Capital to flow Down The Long taale of reaking looking for new use cases and new opportunity but right now this is impossible because of three main reasons first because of fragmentation of use cases second because of technical Integrations they're very costly and they're very complicated and third because of Aller inefficiencies Aller are one size fits all and they build on top of the most specific avss therefore rewards are getting lower and lower over time this means that access to reaking is actually stiffened and this is where we come in we're building the first reaking aggregation layer to allow everyone to get into reaking we allow the creation of permissionless vaults with any kind of AVS any kind of protocol and across any kind of chain so anyone can really create their vaults based on the risk profile and deploy them permissionless but is there a market for this are people interested we've been checking we validated a pain because we have six PC clients with 1 billion of asset under management second we've been building extremely fast our MVP is currently live on testet we have integrated distributed validator technology and a liquid and Native reaking are actually live and together with their stakers and node operator stab third we have ecosystem an ecosystem that trust us we have seven raking protocol Partners across chains that are trusting us but how big is the opportunity here so reaking Market has been growing massively the current market cap is 14 billions but over time we're expecting it to grow constantly in the next year we're expecting it to double they Hereafter to double again and they Hereafter to double again and this is because raking is completely taking over staking and we're building the product to make this possible because current solution are unsatisfying let me explain you why Aller these are monolithic platforms right they take care of both both the infrastructure and the risk management but this means that they have to be a risk manager experts and they're not agile entities so it's actually extremely inefficient and this is where we come in we're splitting the infrastructure layer from the risk management layer so for the first time in Risk taking we are allowing for permissionless risk management so anyone can access raking and set it as they want but right now is the right time and right here we have the right team to make it possible I'm the CEO I previously fundraised 3.5 Millions I worked in Venture Capital JN as my co-founder uh he launched his platform uh build it entirely and scale it to 10,000 uh user active daily our CTO Alexander is a web through expert and is a software engineer he previously built a decentralized exchange from scratch and he published a paper on deterministic systems and finally our CPO benoa is a software engineer as well and previously built his own wallet tracker but here we're missing something and we're missing you guys so we'd love you to join us in our adventure thank you so your customer is the reaking the avss themselves or you integrate with them and then you're letting protocols basically create an AVS across any of them or or or customers can be Dows can be Aller themselves because then can build the VA the build the vaults uh and deploy all their teeth through those or they can be funds that can risk adjust or heal thejust across multiple uh avss or protocols so it can very much be anyone also it's very well um structured for institutions because we do fund segregation this means that if a protocol or an institution want to deploy a specific risk taking strategy they don't have to mix the funds with non kyc uh money um Can a given Vault like restake across multiple different reaking protocols like um and how do you manage that if it's like cross chain uh in terms of like where the source deposit comes from and then let's say you're using like Babylon and Igan layer mhm absolutely yes you can build a vault uh cross chain and cross protocol at the moment we are deploying on uh Aon layer and symbiotic uh integrating uh Sol Solana ecosystem right after and Babylon as well uh and the way we handle is by swapping maybe a spicy question to end it what would you say to a reaking skeptic uh that reaking hasn't achieve product Market fit yet and it it may or may not be useful to the blockchain industry yes so I would say that this is one of the biggest actually uh Innovation that have been occurred in in overall the ethereum ecosystem but is getting larger and larger um simply because it solves the coldstar problem right so when you launch uh a product that uh needs security you need three main things uh that are very hard to find that are a token there are an audience that are validators and this is extremely expensive and the and the way you solve this if is by deploying using by deploying as an AVS using raking right so it's broadcasting security and is helping the ecosystem getting more secure and actually aggregation um help decentralization because allow for the capital to flow around all the different aases and decrease the risk of centralization of the overall ecosystem