Chain Abstracted chain abstracted

In this episode, Sam Kazemian, founder of Frax, to discuss the evolution of stablecoins and their impact on digital economies. Sam shares his journey into crypto, the creation of Frax, and its innovative approach to stability. The conversation covers Frax’s integration with NEAR Protocol, the Frax Ferry for cross-chain functionality, and the future of decentralized digital economies.

Sam Kazemian - https://x.com/samkazemian

Frax Finance - https://x.com/fraxfinance

Takeaways


The Origins and Vision of Frax:
Sam Kazemian discusses his journey into crypto and the motivations behind creating Frax.


Understanding Stablecoin Mechanisms:
Explanation of how Frax maintains stability through algorithmic monetary policy and full collateralization.


Integration with Near Protocol:
Highlighting Frax’s partnership with Near Protocol to enhance liquidity and usability through native asset issuance.


Frax Ferry and Cross-Chain Functionality:
Introduction of the Frax Ferry as a decentralized solution for secure and efficient cross-chain asset movement.


Future of Digital Economies:
Exploration of the role of stablecoins and blockchain in creating decentralized digital economies, including concepts like the network state and digital ownership.



Timestamps:

[00:00] - Introduction and Welcome

[05:29] - The Birth of Frax

[10:45] - Stablecoin Landscape Overview

[16:20] - Understanding Frax’s Monetary Policy

[20:29] - Integration with Near Protocol

[24:55] - Chain Abstraction and Future Vision

[30:40] - Frax Ferry Mechanism

[35:09] - Network State and Digital Economies

[41:25] - Community and Ecosystem Growth



Hosts:

Altan Tutar https://twitter.com/mraltantutar

Website: https://chainabstracted.com/

Connect with NEAR

Website: https://near.org/

Twitter: https://twitter.com/NEARProtocol

DISCLAIMERThe content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor.  NEAR Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.

Oleg Fomenko is co-founder of Sweatcoin and Sweat Economy. Sweat Economy,, tracks users' physical activity, verifies it, and converts it into value through Sweatcoins and the Sweat Wallet app. This system enables users to monetize their movement, providing an innovative approach to incentivize physical activity. The project leverages blockchain technology to secure data and prevent fraudulent activities while promoting a healthier lifestyle.

Oleg https://twitter.com/oleg_fem?lang=en

Sweat Economy

https://twitter.com/SweatEconomy

https://sweateconomy.com/

Takeaways


Sweat Economy tracks users' movement and converts it into sweat coins, which can be redeemed for rewards.
They have multiple revenue streams, including partnerships with brands, advertising, and premium subscriptions.
Sweat Economy prioritizes user privacy and does not sell user data.
The company believes that infrastructure investment in Web3 will eventually shift towards consumer-focused applications. Chain abstraction is important in the NEAR ecosystem as it allows users to have control over their assets on different chains.
Building for the mass market requires a focus on mobile
Capital allocators should prioritize active users over TVL as a metric for success.
The movement economy has the potential to create value for individuals, insurers, healthcare providers, employers, and countries.



Timestamps

00:00

Introduction to Sweat Economy

02:19

Walking into Crypto with Sweat Economy

04:13

Earning and Winning with Sweat Economy

05:59

User Privacy and Data Protection

13:05

Revenue Streams of Sweat Economy

15:12

User Data and Ethical Practices

25:16

Chain Abstraction and the Near Ecosystem

31:25

The Shift to Consumer Crypto

36:31

Building for the Mass Market: Mobile

38:53

Prioritizing Active Users over TVL

40:59

The Future of Sweat Economy

45:06

The Value of the Movement Economy



Hosts:

Jared Thompson https://twitter.com/jarednotjerry1

Altan Tutar https://twitter.com/mraltantutar

Website: https://chainabstracted.com/

Connect with NEAR

Website: https://near.org/

Twitter: https://twitter.com/NEARProtocol

DISCLAIMER

The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor.  NEAR Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.

In this episode we talk with Peter Volnov (Co-founder & CEO of HERE Wallet) The HERE Wallet is a NEAR mobile wallet app that allows users to buy and sell coins, stake, and mine HOT.. The HOT Protocol is their technology layer that enables chain abstraction, allowing users to control accounts on different chains using a smart contract.

Peter Volnov: https://twitter.com/p_volnov

HERE Wallet: https://twitter.com/here_wallet

HERE Wallet website: https://www.herewallet.app/

HOT Protocol: https://twitter.com/hotdao_



Takeaways:


The HERE Wallet is a mobile application that offers various functionalities such as buying and selling coins, staking, and mining.
The HOT Protocol enables chain abstraction, allowing users to control accounts on different chains using a smart contract.
The HOT Protocol offers various use cases, including creating a marketplace for accounts and providing recovery services.
Authentication methods are evolving, and there is potential for using existing app providers for authorization.



0:00 Introduction

0:52 - HERE wallet launch in 2022

2:15 - What HERE wallet in 2024 is coming to

3:55 - What is Chain Abstraction

4:45 - What is MPC wallet

5:25 - NEAR solves the problem of centralization

6:15 - Where did the decision to do your own protocol come from

6:50 - What is HOT Protocol

8:33 - WEB3 App Store in Telegram

9:50 - Browser extension announcement

10:30 - Not a super app, but an open source SDK

11:11 - NEAR NFT marketplace overtook Blur by amount of traders

11:25 - New applications on top of HOT Protocol

13:05 - Telegram wallet for EVM

13:49 - Chain Abstraction - next step for web3

14:23 - How many users have made a deposit during the HOT

14:50 - Open ecosystem

16:00 - Importance of applications and UX

16:50 - Comparing web2 and web3 and the tradeoffs between them

19:10 - Bridges and key ownership

21:18 - Seed phrases recovery

23:20 - Scam protection

24:47 - What kind of applications can be built on HOT Protocol

26:47 - Accounts Marketplace

29:00 - Wallet technology hasn't changed in years

30:53 - Seed phrase and Authentication

33:27 - Every transaction on HOT Protocol is a transaction on NEAR Protocol

34:18 - Worldcoin

36:21 - Plans for 3-6 months on on HOT Protocol

38:14 - Plans for 3-6 months on on HERE wallet and commissions in HOT

42:10 - We build MPC Protocol with open SDK



Hosted by:

Jared https://twitter.com/jarednotjerry1

Altan Tutar https://twitter.com/mraltantutar

Website: https://chainabstracted.com/

Connect with NEAR

Website: https://near.org/

Twitter: https://twitter.com/NEARProtocol



DISCLAIMER

The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor.  NEAR Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities

Ep 3 of the Chain Abstracted podcast with guest Zaki Manian [Cofounder of Sommelier Protocol, Co-Founder of Iqlusion], where we're talking about chain abstraction—a way to make using blockchain simple for everyone.



Zaki Manian - https://twitter.com/zmanian

Sommelier Protocol - https://twitter.com/sommfinance

Iqlusion - https://twitter.com/iqlusioninc



Takeaways:


Chain abstraction aims to simplify the user experience in the blockchain industry.
It eliminates the need for users to have extensive knowledge of different blockchains and their ecosystems.
The value accrual in this model is focused on the application layer.
The goal is to create a user-friendly experience where users can easily use blockchain applications without the need for technical expertise. Chain abstraction is essential for creating a seamless user experience in Web3.
Combining visionary ideas with fun and engaging user experiences can drive adoption in the decentralized space.
Karate Combat, a professional sports league owned by a DAO, is an example of integrating chain abstraction and creating a seamless user experience.
Builders should explore chain abstraction and aim to make it invisible to users.
The goal of Web3 is to create a decentralized ecosystem with diverse and engaging products and experiences.

Hosts:
Altan Tutar https://twitter.com/mraltantutar
Jared Thompson https://twitter.com/jarednotjerry1
Podcast site: https://chainabstracted.com/

Connect with NEAR
Website: https://near.org/
Twitter: https://twitter.com/NEARProtocol


Chapters

00:00 Introduction to Chain Abstraction

07:46 Enabling Seamless User Experience

26:36 The Vision for a Decentralized and Usable World

32:59 Karate Combat: Integrating Chain Abstraction

45:10 Combining Visionary Ideas with Fun Experiences

51:18 Building a Diverse Web3 Ecosystem

This episode of Chain Abstracted is with Lit Protocol, a platform for distributed programmable keys for Web3 digital ownership and secure key management using secure encrypted virtualization and multi-party computation. We also dive into a range of topics from the benefits of chain abstraction and the evolution of wallet technology to the integration of AI with blockchain and future developments of Lit Protocol.

Chris Cassano, Co-founder https://twitter.com/chriscassano

David Sneider, Co-founder https://twitter.com/davidlsneider

Takeaways


Lit Protocol is a network for distributed programmable keys that enables digital ownership and secure key management in Web3.
The protocol combines secure encrypted virtualization (SEV) and threshold multi-party computation (MPC) to ensure the safety and privacy of key material.
Lit Protocol has a wide range of use cases, including encryption, bridging, data marketplaces, and AI agents.
The protocol is currently in a federated set but aims to become more permissionless in the future.
Account-based chain abstraction offers advantages in terms of flexibility and ease of use, while MPC presents scalability challenges.

2:19 Explaining Lit Protocol

3:52 Distributed and Programmable

5:46 Secure Encrypted Virtualization

8:44 Trusted Hardware Environment

10:43 Permissionless Network

12:41 MPC Network

14:15 Secure Encrypted Virtualization

16:14 Trusted Execution Environment

21:29 AI Agents and Personal Control

22:28 Web3 and Digital Ownership

24:18 Account-based vs Deposit-based Chain Abstraction

25:33 Pros and Cons of Account-based Model

26:43 Scalability Challenges of MPC

27:01 Optimizations and Future of MPC

28:05 Different Wallet Types and Account Abstraction

29:04 Self-Custody, Centralization, and MPC Keys

30:50 Login with Name and Crypto Domains

31:19 Authentication and Crypto Domains

32:03 Safety and Authentication Factors

33:08 Authentication Methods and Recovery

34:13 Evolution of Wallet Technology

36:15 Custom Authentication and Cross-Chain Multi-Sig

37:21 Chain Abstraction and User Experience

41:00 Decentralized Cloud Hardware Wallets

44:20 AI and Blockchain as Complementary Technologies

47:31 Abstraction and the New Computing Paradigm

50:29 Blockchain as a Refuge for Human Minds

52:25 Lit Protocol and Future Developments



Hosts:

Altan Tutar https://twitter.com/mraltantutar

Jared Thompson https://twitter.com/jarednotjerry1

Podcast site: https://chainabstracted.com/



Connect with NEAR

Website: https://near.org/

Twitter: https://twitter.com/NEARProtocol



DISCLAIMER

The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor.  NEAR Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.

Welcome to the launch of Chain Abstracted, where we delve into the intricacies of chain abstraction and other blockchain technologies, including how NEAR Protocol is pioneering a coherent, multi-chain experience for users and developers alike.



In this first episode we break down Chain Abstraction in 45 minutes withIllia Polosukhin (Co-Founder of NEAR Protocol) https://twitter.com/ilblackdragon



What is it, who's it for, how it works, for normies, for devs, for founders... we talk about it all!

Some takeaways.


Chain abstraction aims to abstract away the complexities of different blockchain networks, allowing users to interact with multiple chains using a single NEAR wallet.


Account aggregation enables users and smart contracts to transact on different chains.


Chain abstraction is not the same as bridging. It keeps assets on their respective chains and brings the user's account to the desired chain, reducing the risks and complexities associated with bridging.


NEAR's chain abstraction enables cross-chain swaps and the building of various applications on different chains.


Founders can benefit from chain abstraction by reaching a wider user base and unlocking the value of their products.

Chapters

00:00

Introduction to Chain Abstraction

09:00

Launching Chains and the Power of Chain Abstraction

24:55

Trading Addresses and Expanding Possibilities

43:29

Unlocking Value for Founders with Chain Abstraction

Hosted by

Jared not Jerry https://twitter.com/jarednotjerry1

Altan Tutar https://twitter.com/mraltantutar



Website: https://chainabstracted.com/



DISCLAIMER



The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor.  NEAR Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.