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DEFiiCON 2021
March 4, 2021, Online
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Growing Beyond a $5B Liquidity Protocol
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  • Description
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About the talk


About speaker

David Truong
Co-founder / Developer at Truong.vc (not a VC)
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Thank you for joining us. Want get into your talk immediately. But first, please tell us a little bit about yourself. Tell us a little bit about Ave. And then let's let's get into your talk that you can recovering today, which will be how to grow Beyond a 52 in the habit of a of a community center. 45 Gaston. Ave. Lawrence is a secret. You have the share icon on the bottom so I can up Arrow. You can decide to get your good to go. Please get stuck. I think that's showing now. You can say that

if you need the other particle is liquidity. Protocols on one side and have two positives and I deposit my contracts. And in return, they receive a constant interest based on political parameters, like you don't like I should and then a crime and has another side by borrowers and borrowers can take any instantly Adidas table. And I was interested in whatever I want as well. So that means I can be for as long as I need them. And as long as I pay back the interest

and then some interesting things around stable in Baraboo interest rates. Interest rates that had a bit of volatility. Sometimes get high. Sometimes got Laurie rice table, it just right so much more stable generation a staple, right? So has mentioned more than 5 million little guy locked in the market size. Yeah, it is a bit more than 5 million drawing, pretty pretty crazy. In addition to the five billion, CBL. We also have a stake in Muldrow with I'll go through as well and

psychomotor at Century of protection fund for the particle that holds currently a bit more than 1.5 billion dollars that helps protect the protocol from from any potential losses. Yeah, then also we have this this cabinets and here's a screenshot of our government's forums. And it's a lot of upgrades will go in the future. I will be done at 3 to send files K & S Kidney Care about some of the basic concepts Randolph Eye. And then we can talk about the future of our questions as well as like a lot of blending particles. You know, we have the

earning sideways deposit funds. That's a bit different from other Landing platform where I can deposit. A hundred a hundred in return. And I represent you in the closet. We have our orders and Boris going to walk in and as you expect a large particle, so if you have a plateau position, that you can borrow a set amount depending on how my cheek lateralized, ncdr to call support more than 20. So you can you deposit and borrow a quite a few. I don't have the more advanced features code credit, application and Flash lines and I'll go through them in a bit more detail as well.

Set for credit delegation, a false, explain it to a five-year-old outside that you let other people borrow money. If I deposit money on an extra by managing the outlines to other people, Explain it to 85% outside that you keep others access to your credit line, by depositing funds and you approve a user. All very ceases to draw credits from that credit line that melts whenever I want. So what is an Ibis? It allows the people that a drawer in the credits have been collateralize lines. Interest

on top of the particle interest as a lot of implications for and slack Contractor. Supply contract. I've already seen that with many, many interesting use cases of credit application. Example would be leveraging credit. Link bolts. Essentially allow the link Falls to earn high interest utilizing credit application. And of course, enforcement of repayment can happen on China of time. And when I say of China means through legal agreements, so introversion, one of

Kurt allegations, we had Diversified which is a decentralized exchange had an agreement with someone to do whenever they need it up and it's really useful for a decentralized Exchange in that they don't have to hold you in a sec. I can just have it whenever they need it and then bring it back. That's, that's that's quite a large a large area of economic activity in the future. Nexus flashlight, hustle. A lot of people in the audience. I've heard quite a bit about. I would love to one of the fact that we have much time to

Skype is not been assigned space a bit more free money. You have to pay back, nearly immediately, the very Life of Karan laser pointer on the governance of the cereal. Me the m in always collect at expiry. So, this is such a risk for this flashlight, unsecured line. Play Flashlight by the end of the transaction in one block and a transaction. Is because in between the borrowing and the requirement, you can extremely any card that you wants. And that's why powerful Industries as many types of activities can happen, whether it's

exploits or whether it's Arbitrage, or whether it's things like collateral debt, swap, so many positions for one another that's what flashlights and label diagram. Schematic of how a flashlight, conceptually works, everything everything, but the purple line and get reverted. The, which means, if I say, I'm done, if the flashlight has not paid back by the end of the transaction. So I can see here is request, a flashlight in the borrower. Is it in the contract? Because I

need to do buy card and then I retire at the end of the transaction and then, I the gas cost of all the final transaction. This is an example of what a flashlight looks like a nice can so I can see the flash lines. It is easy to do many different things transactions. I can we have potentially four five, six different transactions that all bunched up into one transaction. Is an example of an early example, I should have let you know. I'm flash. Light is a small Albert Raj, about these days as there's a

ton of other Arbitrage. Imma try to send it down with flashlight flashlight, and someone makes $10,000 each, and he's actually need to hold that Capital to take those opportunities and said, specifically for the special, anyone asks that you can flash light in as many assets as you want. And this is what it looks like a nice to scan this. An example of a backsplash line, and I said sand and repaint them including the small Joshua Tree. But now it's gotten us as quickly as well. So if I submit to a five-year-old, if i c means that

belongs to everyone about explains what 15, you're out of sight of anyone who owns the article and a person. It's a possibility, centralization and Calvin, the particle from exit listings. The particle unit parameter changes. So this is a schematic of governance tonight is that we are in avocado plants. It's different from other governance mechanisms in that we have the proposal separate so you can be, you can propose something. You can be a separate entity from avoid soda and the same thing, those Powers a different site. As a nod, I text and called, you can

delegate you voicing power separately from your proposal power. And that's what I've been able. Some very interesting things to happen. While we will probably start to see what we call artico politicians. That's all purpose would be to proposed changes to the park, and then the participants can decide to vote. Then also there's a short time lock and longtime lock. What that means is that a sudden changes that can happen quickly about football critical. That's why did impacting

changes they come on. That's a long time. I say it's like a safety mechanism within the offense is well for expanding a particle Beyond what's the currency of discipline? And you know, how do we get laundry institutions? Lot of players? So it's a trust the system and this is why where they can actually like the particle of all sight in a Safeway West. Particle can be protected from potential attacks. It's a text as well. This is a quick example, run out of data such as confidence, in inaction. So, Charlie from curvy place up in the farm

saying that, you know, because I can And it will happen. If I didn't have enough proposal Pala. She submits it on chain today. In Julian, for most of the curve team. He tweeted you're asking for people to delegate the proposal power to this address and they managed to get enough. Air is Ocala. And then no, I will to make the proposal on train and then shortly after listed on the screen so I can see that in the Reserve at that time. I'm sorry to say the summary of governance is that it's an off-time process of

organic feedback from the community, then they need to get an owl and a credit on chain, the voting happens and then is executed. Now, are you beside mentioned the station as well? So the cycling also plays a part in the governance as well because I mention four types of large institutions of our ball player is coming to the spice. The boys need to trust the governance that it can't be compromised by the unexpected thing happens. If I cancel, us know what happens, had a how up, which is a match? Made whole again.

And this is one of the ways are centrally just have the choice to take as what we call this a female troll. And I received my return, has some interest in return by the same time. They can potentially be slashed up to 30% of the funds that they hold. So this creates any protection fund for the particle at a mine on the insta pot pie, five billion dollars in the safety Montreux. Sorry, I think we're probably one of the mice well protected by to call Sally sunshine, this

screenshot this and that I T Y soaring above 30% to 60%. At. So we can open up the floor to questions. It's a lot of people were asking what a flash on it. Blown it is and you kind of explain it really really well. We've got a lot of questions coming in. Let me try to sort through some of them again. If you're asking questions, please ask questions section so that we can keep stay organized and it doesn't get swept up in any chat. 40 first question Felix. Did you think about any solution to trade flash loans valid over multiple blocks could somehow be possible to create

or cross chain flush valves? Yes, it is. A question is, before I had to think about this. I think it could be possible. It depends how you feeling cross. It's theoretically possible for a crossbuck sign that says, you have a nail to sidechain expensive. Chinese. The main issue would be around Oracle, having Oracle prices on Bissonnet outside outside sign and mail one that you can rely on, other than that inversion city of which is why we have what we call detton turn flashlight, flashlight with credit allocation. You sort of a century get multi block

flashlights, set. A time to download Halo probably requires a bit more explanation. Multi-block flashlight, that isn't any information in the world of yet, but I think this Things that functionally enable. Okay, thank you for that. Next question. We have some at my student. BNP Paribas. What happens. If the token sparred during The Flash, not get stuck somewhere during the transaction. Timeout revert. All steps taken since the start of the flashlight by The evm Works. Is that something like that

was included in that transaction? Then they knew to provide customers the lines on my back. Okay, then one from Thomas of blooming I had to upgrade from V12 V2. What are the key differences? I said the key differences. I would be a lot of things about this gas. Savings is all the features around / lines. I talk about night of credit delegation, which is very powerful, Sorry by. So you can allow people to borrow on your behalf and that opens up a lot of a huge design size

that we have now. I'm all the tycoons tycoons that I forgot the standing in the walk for various reasons yet. That, that feature is Leah. Okay, great. Thank you so much. Any other questions, please pop them into the question sections. Want to see if I missed anything. I've got to looking at it but messages here. Sheep Shearer. How can I think we've got a great. I don't think we have any more questions at this point. I had with you coming in. Are you already working with big

institutions and organizations on regulation, especially regarding flashlights. So I think maybe you want to say, what are some of the pros and cons of flash loans. Maybe they'd be like in and and then the question is, are you working with the government regulatory body around? Yep, just say, I think it should be clear that the flash lines that necessarily. And I want to think that wasn't possible previously, previously, your tongue to be white as let's say, thank you so much opportunities.

Did the colonist at, you know, if if you're if you're not ripe secure so I can track. Some people will find exploits more quickly because Capitol Honda in on them in a gastric regulation. I'm not aware of anything in regards to the flashlight. Cific regulation cuz I have no general counsel. That's not working. Yeah, we we have funny. We have a certain license in the UK. So of course that, you know, the regulations and compliance standards as well. Okay, great. Thank you

to the question to only one more from Jason from an investor. If I deposit funds as collateral and take a loan, does my deposit still earn interest? Yeah, exactly. It does. So some people do that. We've And you. You don't have to take a long, you can just deposit and then it just if you have no useful for borrowing funds. Okay, great. Thank you so much. I was a fantastic rest and I really appreciate it was really great information. You might want to just leave

information Ronde. The links that you put up on the next up will be upset from insta. I'm just going to get him up. I say cheer. Awesome. Thanks for having me over. Thank you for the rest.

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