All right, guys. Welcome my friends. The
time has come and another community call
is among us. This time I'm joined by
more of my friends from the team. We
have Yago, our co-founder. Um, we have
Hillary, our CCO and co-founder. And
then we have Gotti, who's also our CTO
and co-founder as well. Um, I am
actually waiting for him to join the
space. Um
uh so the purpose of today's call is uh
obviously to highlight some of the
incredible breakthroughs that we've been
having, talk about the boss token, and
then we will dive deep into ZKBTC
programmable bitcoin as well as our
updated road map which is the book of
boss. Um before we dive into the purpose
of today's community call, however,
we've invited Andrew. Um, as you guys
know, he is the co-founder of Charms to
come on and address some of the recent
issues that you guys have been facing
with the Charms Bro memecoin. Andrew,
how are you, my friend? Um, hopefully
you're doing all well. We'd love to hear
from you.
>> What's up, aliens? I'm doing great. Uh
it's been 3 days since the uh bro
memecoin went live and it's been the
first chance for a lot of you to uh try
out the charms protocol which you guys
have been excited about for a while now.
So um I've been really excited. Uh
there's been a lot of interest and I
really thank all of you for being so
interested in trying out the protocol,
you know, mining yourself some bro. It's
been it's been really exciting and
awesome. Now, that being said, I wanted
to just uh put out a message to all of
you uh this morning, just to make sure
that you're all aware that we discovered
a bug within the Charms wallet this
morning. So, uh just to be clear, this
isn't a problem with like the broader
charms protocol or anything, nor with
the broader boss system, but it's fully
on the Charms team and it just has to do
with the Charms uh wallet software. So,
um, I discovered this morning that some
people, particularly those who have sent
BTC out of the Charms wallet, may have
accidentally destroyed some of their bro
or even most of their bro in the
process. Um, now, if you haven't sent
any BTC out of the wallet, your funds
are completely safe. Your bro is safe.
Um, I don't believe this has applied to
most people either from from who I've
spoken to about it so far, but it did
affect me. Uh, and I ended up losing
most of my bro in the process. So, I'm
going to tell you guys how I ended up
doing that. Uh, so that you can be aware
and also so I can tell you like how
we're preventing you guys from running
into the same mistake. So we discovered
that within some of our updates
uh the wallet as particularly as we were
like switching back and forth between um
some of our node providers in these um
early stages. Uh,
one of the wallet updates ended up
reverting back to a version that allows
you to spend UTXOs at your Bitcoin
address that are actually
associated with your bro tokens or they
hold bro tokens inside of them, the bro
that you've minted. And Charm's wallet
is supposed to be designed so that it
doesn't let you do that. so that if you
send BTC out of the wallet, it only
affects BTC in your wallet sitting at uh
transaction outputs that are meant to
hold BTC and aren't holding any charms.
But um we ended up reverting to a
version of Lot that wasn't like that. Um
I sent uh some BTC back to myself within
the charms wallet to like um consolidate
some funds just to like clean up my
wallet a little bit. But then what ended
up happening was it gobbled up um all of
the uh bro UTXOs that I had minted up
until that point. So uh when I came back
to it, I had only discovered it a little
bit later when I went and uh revisited
my address on a blockchain explorer and
I discovered that all of my 1000 sat
UTXOs were gone. And then I tried reimp
importing my charms wallet into uh
another device and I confirmed that oh
uh my bro balance on the original device
it wasn't displaying correctly on the
new device it was displaying correctly
and like most of my bro were now gone
when this occurred. So that stinks for
me but uh my first concern was to which
of you this might have affected. So, I I
let you guys know on the Discord and um
uh I discovered that most of you haven't
encountered this problem, but some of
you did. Some of you discovered that you
couldn't find any of your UTXO. Some of
you were talking about it, um uh
yesterday, like kind of like late
evening that you'd encountered this. And
so, uh I spoke to a couple of you and
this was indeed the issue. This was the
thing that like had caused you to like
lose your burrow belt. So, um, for those
of you who encounter that issue, um, you
can feel free to DM me on Twitter or
Discord and I will fully refund you in
BTC for any of the UTXOs, bro minting
UTXOs that you ended up losing. So,
that's I have you fully covered on that,
fully um, on Charmsing for letting that
happen. um we've discovered the issue
and as a precaution just within the
charms wallet we've grayed out we've
disabled the sending button so that you
can't run into that issue again and
we'll reenable it frankly quite soon
once the issue has been resolved in the
background um from now on also when you
send BTC out of the charms wallet you'll
be able to view exactly what UTXOs are
um being sent in that transaction
through a little drop-own window so Um
the the wallet is designed now it will
be designed so that it doesn't default
to your bro UTXOs, but you'll be able to
verify that yourself before you send the
transaction as well. So if there's any
1,00 SAT UTXO being sent, you know that
uh that would would be dangerous, but
that shouldn't be an issue after this.
So um yeah, I just wanted to clarify
that. Um any again any of you who uh m
fear they may have lost bro in this
manner I recommend you go to your UTXOs
tab in the charms wallet or you check
out your um bro minting address on a
blockchain explorer like meool.space
and view your UTXOs and make sure that
you still have one 1,000 sat UTXO for
every time that you've minted Burough.
If you don't have that uh and instead
you notice that like all of those UTXOs
have been consumed particularly in a BTC
sending transaction then your bro may
have been destroyed you you contact me
and I'll refund you for all of that. So
again um that doesn't apply to most
people. Most of you haven't been sending
BTC out of the wallet. So if you have
done that if you haven't sent any BTC
you're bro uh this is only a charms wall
issue and it does not reflect anything
on the broader charms protocol or the
ball system.
So, uh, with that being said, uh, thank
you for all to all of you again who are
participating in this really early.
Like, we appreciate that you're
enthusiastic to go and like play with
the first charm at this stage. Uh, we're
not perfect. We're going to run into
some problems like this, but um, uh, we
really appreciate um, your patience in
all this and most of you have been very
patient and um, uh, uh, charitable with
us during this process. So, uh, thanks a
lot and, uh, happy mining and, uh, DM me
if you have any problems.
>> Thank you so much, Andrew. I appreciate
that. I know the community's been having
an extremely fun time, uh, mining. I
know I have. It's been my first like
mining experience. So, um, but you you
guys heard that. Um just to recclarify
so everybody's clear on this point um
any issues that's happening with bro
itself is not a reflection of what's
happening um within the charms protocol
nor is it a reflection of the boss
protocol itself either um again there is
no correlation between the actual bro
memecoin and the boss protocol. So I
just wanted to highlight that. Um, but
again, Andrew, thank you so much. And
you know, like he said, if there are any
issues that you guys are having, if you
do uh if you did notice that you are
missing your bro, please DM Andrew. Um,
he is also known as the solution on
Discord and he is offering a solution to
you guys. So, um, yeah, from there, um,
let's move on to the intros, my friends.
Um, Andrew, feel free to drop my friend
if I know you're you're super busy with
like some of the bug bugs and stuff
taking place. So, um, yeah. Anyways, um,
before we get into what's that?
Okay. Uh, before we get into the main
discussion, let me quickly introduce you
to you all to the amazing people that
you will be hearing from today. Um,
first we have Derek Matterder, also
known as Gotti. He is our CTO and
co-founder. He is the one who is leading
the technical breakthroughs that's
making CKBTC and the Grail possible. Um
Gotti, please introduce yourself, your
role at Boss, and we'd love to hear a
little bit more of your background in
crypto and tech.
>> Hi guys. Um you can hear me, right?
>> Yes, my friend, we can hear you.
>> Excellent. Okay. So, I'm I'm acting as
CTO in Bitcoin OS. Um, it's my privilege
to be the engineer who's responsible for
the technology. I think it's a hugely
interesting and challenging role. My um
my background is in cryptography. Um I
started I came from military
intelligence in the 90s and have been
working in various cryptographic
projects since then.
Um, and I think that um um blockchain is
uh the opportunity to put all of that to
good use.
It's probably the most interesting thing
that happened in the field in the last
30 years.
Um, and that's it.
>> Amazing. Thank you. Um, and uh I know
Shear was was talking about that you
have like a husky. Is that your husky uh
barking in the background? He's a golden retriever.
retriever.
>> He's a golden. I got you. We'd love to
We'd love to see pictures of him.
>> Oh, okay.
>> Yeah, we'd love that. Um, but all right,
let's move on to our next team member
here. We've got Hillary, who is the
co-founder of Boss and CCO. Um, she's
been at the center of driving this
vision from the very beginning. Hillary,
please introduce yourself, your position
at boss, and also give us a short
history of your crypto journey.
>> Thanks, uh, Alien. Um, okay. Uh, first
of all, Gads, I had no idea you had a
golden retriever. We I guess we're a
golden retriever team. Um, that just
made me love you even more. And I don't
know why I didn't know you had a golden
retriever considering I've known you for
quite a while now. Um, as as Gads
mentioned, he's he's the big brains
behind the operation. and I'm just
floating on his coattails. Um, I get the
the the luxury and the privilege to kind
of lead our our commercial efforts. Um,
and so I oversee our our marketing team.
Um, and the department head there. Uh, I
oversee Claire as head of community. Um,
I oversee our BD team. Um, and Calvin
who's our head of ecosystem as well as
uh some elements of of Devril. Although
Gads also shares that responsibility
with me. Um I've been a marketer for a
long time. Um I
got a utterly useless but nonetheless
lovely degree in poetry. Uh I that's
where I did my MFA here in New York at
the New School. Um I can't say it's you
know done much for me in life. I'm not a
published poet in the last, you know,
10, 15 years, but ma made me good at
narratives, I suppose. I'm a good
writer. Um, I see the world in a a
little bit of a more artistic lens. Um,
up to you if you think that's artistic
or autistic, to be determined. Um,
anyway, uh, started off my career in
cannabis, uh, as a as a CMO. um when I
when I finally got into got got off the
park bench being a poet um and did web
two for you know a couple years and then
I I really got into
uh crypto because a friend of mine had
me help with uh an early
blockchain media outlet called Blockler.
Um and that was like 2015.
But I really really didn't get involved
in crypto until around 2017 which is
when I think a lot of the wave 2 uh
executives and wave wave 2 members of
the crypto larger crypto ecosystem got
involved and probably that's because of
the ICO boom and ICO era. Um the first
project I was at was a project called
topple. Um, I was really interested in
it because what they were doing at the
time was really using the block train
blockchain to trace, track and trace uh,
physical assets, uh, wine, the
temperature of wine, making sure that
wine stayed at that temperature. Um, you
know, it was like when you send a bottle
of Bordeaux from France to, uh, New
York, if that wine dips below a certain
temperature, the value of that wine has
completely disappeared. And I found that
to be an actual use case. Uh that was
interesting. We were just a little too
early and nobody cared. Um we also like
tracked COVID test kits to make sure
that they stayed a temperature etc etc.
Um one of the coolest things we did and
what made me continue to stay in crypto
was that we had developed uh a system by
which you could track and trace coffee
beans uh and chocolate. So, we had
worked with uh uh Tony Chocolone out of
uh the Netherlands, and you could scan
the QR code on a on a bar of chocolate
uh and you could see all the way back to
the farmer who had created that
chocolate, and then you could tip that
farmer uh through uh crypto. Um and so
for me, I said, "Okay, wow, this is
amazing technology. It really
democratizes finance uh when when it
comes to consumer product goods um to
the to the to the point where you could
even go so far back into the supply
chain as to the original farmer who has
ultimately the most underpaid but has
done the most work. That's what kept me
here. Um, what pushed me into Bitcoin
was that in 2022
or 20, yeah, 20, no, 2023, I think
Bitcoin was like the summer, Bitcoin or
the summer of 2023, Bitcoin was hovering
around like 17 19K. Um, I went to go get
a mortgage and the mortgage lender said,
"Okay, you know what? Convert all this
crypto that you have on your balance
into into cash. sit hold it for 6 months
in cash and then come back to us and and
we'll approve your mortgage. And I
basically said, "Fuck you. I'm not doing
that." So, I still don't have a mortgage
to this day. Um, I wanted to make sure
it was the best decision I made to be
honest. And I wanted to make sure that
uh I was one of the participants uh
actively working to make make it so that
people could put their BTC to work and
use it in functional ways. Um, I'll say
that's me. Um I uh met Yago and and Gods
um about 2 years ago now and
uh it's been a really great journey with
the two of them. Um so thank you for
having me on and I'm sorry this is
really the first time you're hearing
from me. I uh tend to stay in the
background uh with my with my role but
um I uh I'll I'll be here more often
from now on. [Applause]
[Applause]
>> Wow. Amazing. Hold on. So, had no idea
that you had uh a degree in poetry. We
learned about your cannabis uh
experience. Incredible. Would love to
hear more about that later on. And then
we had a little uh lesson about wine and
import export and coffee beans. That's
incredible. Um really appreciated that
like level of transparency. It really
set a nice solid tone here. Um, finally
guys, um, we have Yago. Most of you guys
have already met him, but we are
reintroducing Yago because I know that
we have a lot of, uh, new community
members here. He is the co-founder of
Boss. He is an amazing storyteller, as
you all know. He is our fellow Gigabrain
and extremely passionate Bitcoin maxi in
the most positive of ways. Yago, please
introduce yourself, my friend, your role
at Boss, and share a little bit more
about your journey and history in the space.
space.
>> Thanks, Alien. And hi, everyone. Um,
it's great to be on uh on a call with
you guys again. Um, and there's super
exciting things happening. So, I think,
um, I'm going to need to be on these
calls more frequently from now on
because things are starting to move
very, very quickly. So, just a a quick
um background on myself. Um I kind of
fell into Bitcoin uh by mistake. Uh 14
years ago I was working at Carnegie
Milan University on um AI and machine
learning sort of in its very very early
and primitive days and I read the wrong
white paper by mistake and it blew my
mind and um I I read a paper which
described the solution to two not just
one but two crucial problems that I'd
been thinking about a lot. One was the
fact that there were no property rights
in the digital world, no property rights
in the internet and as a result no
economy uh that had been developed by
this most phenomenal technology and and
and and people sort of didn't own
anything. Only the the the owners of the
platforms owned everything uh which was
something I'd been very concerned about
at the time. And then the second thing
is that um even back then I was very
worried about where the world was going.
I saw that um not just one but all of
the countries of the world were on the
same track and they and I couldn't
identify any way that they would get off
that track and that track was increased
debt uh more and more demands by
politicians and the people who vote for
them um to continuously increase that
debt and um a a coming debt and fiat
crisis um And so I I was expecting
inflation and and indeed I think um I
back in the day I thought it would
happen more quickly but but but
the the the the things that I was
worried about then are happening now.
And so I read the Bitcoin paper and it
described a solution for both of those
things. Both a system which created
digital property rights and the ability
for anyone anywhere in the world to
transact with anyone else in the world
in a real
in real economic transactions. Uh
creating um contracts uh uh which u um
didn't require a a intermediary in the
middle in order to enforce
and at the same time the creation of a new
new
um uncensorable and non-inflatable
asset. And uh so I I wrote an email to
everyone um that I knew. basically it
was a send all to everyone that they
have to pay attention to Bitcoin. Um
mostly it was ignored. Um but at least
one of the people who got that email is
actually working with Boss today and um
for the last 14 years across multiple
different projects and having worked
with some of the exchanges having
started one of the first remittance
companies in the space and having built
in the space um for for 14 years
including um help helping to build
sovereign into the the pioneering
project of of Bitcoin DeFi. Um, I'm now
in a phenomenally exciting place, which is
is
this this vision that I've been um
entranced by and the and and sort of
what I've seen as my personal stake in
in trying to make the world of the kind
of place that I would more want to live
in and I would want for my children. the
ability to to take Bitcoin and turn it
into a system which can be a
generalizable ledger for all of the
property rights of the world, a generalizable
generalizable
settlement mechanism that everyone in
the world can trust and a system through
which we can connect all of the
disperate uh fragmented pieces not just
of the crypto ecosystem with all of its
chains that right now don't talk to each
other, but also other pieces of of the
world like Treadfire
with DeFi. We we need a we need sort of
a nexus of trust that can connect all of
this. And I think for many years the
myself and the people um who are
building on boss identified that there's
really one key piece of the puzzle that
is missing to make all of that happen
and that is the ability to bring
programmability to Bitcoin
and um and we are now on the very
precipice of not only have we already
demonstrated all of this on mainet but
we're on the precipice of bringing it
into production in a way that can be
absorbed by mainstream developers,
mainstream users, mainstream traditional
financial institutions and DeFi. So,
extremely exciting times and um Ellen, I
I hand back to you, but uh I I'd be if
you if you want, I'd be very interested
to talk about why I'm so particularly
excited right now.
>> Absolutely. I mean, I was I was about to
get into that. Obviously, you know, I I
wanted to obvious take a moment to
acknowledge like some of the incredible
progress we've made. Um, you know,
looking at the bigger picture of what
we're about to capture, it really
showcases how far we've come and how how
much bigger this is than any of us ever
imagined, right? So, please dive into
it. Take the lead here. The mic is all yours.
yours.
>> Great. So, I you know, a lot of you have
been following this um for months now.
um perhaps as much as uh almost a year.
Um and over the last year we've continuously
continuously
um put out pieces of the puzzle, pieces
of the system. Um but over the last six
weeks, we are in a bit of a phase change
and you guys may have seen this in some
of the the most recent announcements. So effectively
effectively
almost all of the components of Boss are
not just being have not just been
demonstrated but are actually being used
in one way or another in their early
phases um as mainet systems. In other
words, the boss system um in terms of
its core functionality already exists
and that has really come together over
the last few weeks. Now, um I we
shouldn't get ahead of ourselves. Um we
haven't announced a um you know stable
initial release. We haven't announced a production
production
uh sort of v1.0
um because there's a um there's a gap
between having the working system having
it you know all of the plumbing in place
and sort of having the system being
movein ready. It's like the difference
between having the house built uh and
all the wiring and the plumbing in place
um and the difference between that and
having you know the house painted um the
furniture uh uh uh in place and and and
and the house actually being movein
ready. But in terms of the basic uh
house it's built. Um,
and so we're getting very very close now
to being able to, you know, we're we're
in the the the final stages of putting
together the pieces which allow for the
first true version of um programmable
Bitcoin capable of integrating with
other systems where Litecoin and Cardano
are going to be the first um clear
examples um and the first system which
allows roll-ups to Bitcoin. All of these
pieces are in place.
Um and you can see this I think the most
dramatic example of this is
um we uh introduced
a institutionalgrade version of the
Grail system um called Grail Pro just a
few weeks ago and we did this in sort of
the doldrums of August when people are
mostly not paying attention but this is
a system designed from the ground up to
be able to integrate directly into
um the existing systems of custodians
and institutions who today hold some 6
six uh 600 no 1.2 two trillion dollars
in in BTC actually um and integrate with
their existing systems
um and allow those systems to uh allow
those institutions to begin to utilize
their BTC
without it ever leaving their custody
um as collateral as yield and at the
same time will soon also allow them to
begin to utilize charms for the issuance of
of
um institutional
uh products and institutional assets.
Truly turning Bitcoin into a platform
which can um support and act as a ledger
for all of the world's traditional assets.
assets.
Um not only that but um we've introduced
so the first BTC small amount right now
only around 90 BTC we we kept it at 90
BTC and that was taken up immediately
but the first 90 BTC or around
um uh uh uh
uh $10 million um at the time um has
flowed into the system from these
institutions in the form of ZKBTC. So
we've issued the first programmable BTC
on the Bitcoin network. Um so we
actually for the first time have BTC
which is fully programmable on Bitcoin
and which soon um is going to be
portable um without the need for
traditional bridging to other chains.
And we also have well over a billion
dollars in this type of institutional
BTC which has already signed up to gain
access to the system as we increase the
limits on how much BTC we're allowing
into the system. And so as we build
confidence um with the security and the
productization of this system, we're
going to be dramatically increasing
those limits, allowing first tens and
then hundreds and then ultimately
billions of dollars to flow into the system.
system.
At the same time, um
we have um started to see the first uses
um and the first projects, Charms, Inc.
being a a a a a clear example of uh
projects that are building out new types
of feature sets, functionality and and
tokens on the Bitcoin network. And we
are making significant progress on the integrations
integrations
um both with Bitcoin roll-ups and with
significant chains like Litecoin and
Cardano. So the vision is coming very
very clear uh clearly into focus right
now. And I know that um
not only are uh is is the project
technology important but also sort of
the asset and the financial viability of
the project um and and it's and your
ability to use it. And so one of the
other exciting things that is happening
right now is that most of the final
components and agreements um that are
necessary for the token to be launched
and begin trading on exchanges across
the world are in place. It's mostly an
issue of scheduling and some final um um
uh details that need to be worked out
but um TGE is also um very clearly in
view and will be uh um uh just around
the corner. And so, you know, August is
usually the month uh uh you know, the
summer month in which nothing happens.
But for us, it has been an extremely
exciting period. And for me personally,
um, it is
consumation of what for me has been for
14 years what I've been working towards
and and a dream that I have of of what
what Bitcoin and crypto can truly be um
is finally becoming a reality. And so
I'm I'm
um more hyped than I've been. I I I
[Applause]
How exciting, guys. How exciting. I know
the community is probably ecstatic right
now because they've been so excited to
hear um about Boss directly from you
all. Um you know, and you guys have been
building in the background. So, it's
nice to get you guys on the space here
and then. Um, you know, I'm sure I'm
sure I've I've just been kind of like
sounding like a just like robotic as of
like the last couple community calls cuz
I just keep repeating myself. So, thank
you so much, Yago. That is so exciting.
And, you know, I really genuinely think
that this is turning out to be so much
larger, so much bigger than we could
have possibly ever imagined, guys. So
very excited for what's to come and very
excited to finally put an end to
fragmentation and see the unification of
the cryptocurrency ecosystem. Um with
that um Yago you did mention a little
bit about TGE. Did you want to share any
more thoughts there or should we move on
to the
>> I can say look I mean there's very as as
I'm sure anyone who's been in crypto for
more than a few days knows um we can't
really talk about this um we want this
to be a um a broad and successful um uh
event which allows for multiple for
basically anyone in the world to gain
access and part of that story is also
working with um global exchanges ES
including centralized exchanges. And so
um we are not uh able uh to speak until
you know they they have very strict
rules around um they they get to make
the announcements and only happens uh
sometimes a few hours and sometimes a
day um before. Uh some of the exchanges
will do three days before. Um so uh we
won't be able to actually announce any
uh any time beyond that but um much of
this work is already behind us and we
are now in the phase of of finalizing
scheduling and um um so don't expect it
to happen tomorrow or the or next week
or I mean we're still weeks away. I want
to to be clear on that and we won't be
able to say exactly when it is happening
but most of there's been a huge amount
of work on the part of the team
fantastic work on the part of of of the
boss team Hillary's team and the BD team
and and a huge amount of um excitement
from the exchanges and a lot of that is
due to you guys in the community um the
amount of interest and the amount of
activity that we've been seeing um and
um and So, uh, we're we're getting ready
for that as well.
>> Fantastic. Appreciate the transparency
there, Yago. It's always very refreshing
to hear. Um, all right, guys. Like,
before we dive into the main core focus
of today's call, which is the updated
road map, the book of boss, and then
ZKBTC, the first ever programmable
Bitcoin. Um, I wanted to share today's
secret code with you guys, and that is
9,000. So 9 0000
there you go. And then I also did want
to share that today I am doing a kind of
like a mini giveaway for you guys just
as a once again a token of our
appreciation for your attendance for
being advocates for being loyal
supporters of us for being so excited
about boss. So um I will at random
pick someone from today's call uh to be
the winner. But you do have to make sure
that you're following me as well as the
team. um that's the only way that I'm
going to be able to reach out to you
because I I absolutely will not DM you
first. I'll just tag you in one of our
posts. So, please do make sure that
you're following us all and then um I
will make that announcement once this
call ends. With that being said, my
friends, let's dive into ZKBTC
ZKBTC
guys. So, for the first time, we are
making Bitcoin fully programmable.
Um either Yago or Gotti feel free to you
know walk us through this. Uh what is
ZKBTC and why is this such a incredible
>> Um Gadia if you want jump in and I'm
happy to join.
>> Yeah I'm here. So ZKBTC is a charm.
Charms is an um is a token standard that
uses the power of zero knowledge proofs
to add programmability to Bitcoin.
Um so what we're creating really is a
world of applications
and ZKBTC is the doorway to that world.
That is the way for people who own
Bitcoin to go into the world of new
interesting applications and take part
in it.
So, Zik BTC is is a charm. As I said,
it's a charm that is its value is pegged
to the Bitcoin
um with exactly 100% collateral. And the
way we do this is unlike um most stable
coins in the world that keep the
collateral in some bank account or in
some company account
um ZKBTC is pegged automatically and
programmatically in such a way that it
doesn't rely on the goodwill of any person
person
um for the collateral to be turned back
into Bitcoin. Um, in fact, it's um it's
permissionless in in such a way that if
Bitcoin OS goes out of business, if we
go do something else or disappear
completely, it doesn't change the fact
that you can still um redeem your your
Bitcoin back by burning ZKBTC.
So, it's um it's pegged to the value of
Bitcoin and that's what allows you to
take the Bitcoin that you own and walk
into the world of uh zero knowledge
proofs and and Zika applications and all
of that good stuff that we have planned.
>> I'd like Yes, I'd like to add a little
bit on in terms of what this actually
means uh and sort of what are some of
the applications.
So to I think one way to understand this
is to use the analogy because of of of
Ethereum. So this is um something that
most people are already familiar with in
that um when people think of Ethereum
they think that Ethereum right ETH is
programmable fully programmable but ETH
actually isn't fully programmable. For
ETH to be fully programmable, it needs
to be wrapped in programmability, it
needs to be um wrapped effectively in a
smart contract.
And um so every time anyone has ever
used ETH in DeFi on like unis swap or a
or anything um what they've actually
been using is what's known as this sort
of wrapped ETH this programmable ETH called.
called.
Um what's
um so fantastic about the way that WET
works is that the vast majority of
people are actually not even consciously
aware of this. Right? So it's a fully
it's a completely seamless experience.
It's a experience which doesn't add new um
um
um uh counterparties. It doesn't add new
uh trust assumptions and it um
importantly also doesn't add a tax
event, right? So it's not like you're
selling out of ETH or handing your ETH
over to someone or converting ETH to WE.
Your ETH now becomes programmable ETH or
WH. And so what ZKBTC represents for the
first time is the Bitcoin equivalent
um of WET. And what that means is that
what we're building is a system which
can become as seamless, as transparent,
move into the background um
um
um in the same way that WET is a and and
as a result they it's a it's a it's
truly the same asset simply being used
in a in a different way. And also as a
result and this is uh important to
anyone who's using these systems as
opposed to using
um what what typically has been called
like WBTC rep BTC it is not a taxable
event and while a lot of people can
ignore the potential tax implications of
using uh WBTC institutions cannot and so
for institutional use cases having
something like with having something
like ZKBTC is incredibly important but
it's also just as important important
for the ability to build true DeFi
applications, the ability to build
systems which don't have additional
trust assumptions and the ability and
this is key to have a truly seamless UI
and user experience.
And so,
um, what we anticipate this does is it
opens up the door for creating truly seamless,
seamless,
um, efficient and secure
uh, DeFi applications for Bitcoin on the
Bitcoin network itself. And because
ZKBTC has um this powerful property of
being able to be ported via
cryptographic proofs, right? And the
user doesn't need to go to a bridge, but
can perform this action by themselves.
Can port into other kinds of execution
environments, can port their BTC to
Cardano, can port their BTC to Litecoin,
can port their BTC to Bitcoin roll-ups
themselves and port back themselves. Um,
these systems now merge into effectively
a deeply integrated system where this
world of Bitcoin DeFi and and and DeFi
more generally
can exist in on the Bitcoin blockchain
as well as the broader crypto ecosystem
unifying for the first time these these
ecosystems. So it's really important
from the perspective of security, from
the perspective of UI, from the
perspective of opening up new use cases,
and from the perspective
um of uh tying together Bitcoin with all
of these other systems. It works
seamlessly with all other types of
assets that can be issued as charms and
then later as CNTs
uh uh or or or or other types of assets.
And it is um purpose-built to be able to
work with what is becoming a
increasingly important part of the
market which is sort of like Treadfi
>> Amazing. That was an extremely
comprehensive overview of of ZKBTC. Very
exciting. Um, I do want to say that we
are slightly running short on time and
we do have quite a few AMA uh, sorry, a
lot of questions from the community. So,
we may need to keep like some of our
answers on the like more shorter precise
um, end of the scale. Um, but I did want
to get into the Grail here, the Grail
Pro specifically.
um we kind of announced it with with
CKBTC kind of didn't really make an like
an official um highlight overview of
this product, but um can we just dive
into the fact that ZKBTZ is obviously
powered by the Grail Pro. Um you kind of
already explained about what makes the
grill uh different from traditional
Bitcoin bridges in the past, but do you
mind covering that again? And then can
you explain why institutions need it?
Yeah. So I I I'll try and keep this very
very short. Um
at the core of uh the vision for how we
were constructing bus from the very
beginning has been Grail. Uh it and
Grail's ability to provide
programmability to Bitcoin um both
Bitcoin the chain and BTC. Um what we
realized around the middle of the year
as we started um demonstrating this
primarily to custodians of of of
large institutions was that um their
systems would not play well with uh
Grail. Grail is really designed to allow
anyone to to use the system in this way.
Uh but because of the architecture of
custodial systems, we needed to build a
system which was purpose-built
for uh institutions. And so we spent the
last few months uh building out Grail
Pro as a counterpart as a as a a a um
companion piece basically to Grail. And
today Grail and Grail Pro Bas are
effectively the same product but
represented in their general purpose and
their institutional
um forms and we've started with the
institutional form because for the institutions
institutions
by being a Grail Pro operator the system
for you is truly uh trustless. Um, one
of the key things that we've uh um made
a point about is that the cryptography
allows us to have the system be fully secure
secure
uh with a what's called a one of n
security assumption. In other words,
that's unless everyone who is using the
system is corrupted, the system
maintains its cryptographic integrity.
But if you are an operator which the
institutions are
um two things happen one for them they
don't have this one of assumption
because they are the one of end so for
them they can directly maintain the
crypto for them the system is is
trustless but the other thing is that as
these institutions join the system their
their level of security
um is added to the security of the
Because so long as one of them remains
secure, the entire system remains
secure. And so by launching the system
through these institutional players, we
basically piggyback off not just the
security of one of them, but this the
combined and aggregated security of all
of them. And they effectively um kind of
for free are are going to be securing
[Applause]
That was a beautiful answer. Absolutely
beautiful answer. Um, so you mentioned
that institutions hold about I believe 6
million in Bitcoin today, which is
roughly $1.2
uh trillion dollars, I believe.
>> Well, I I may have gotten my maths wrong
there, but but yes.
>> All right. Well, my my math is not good,
too. I I failed math 99. So, um right
there with you. Um how does uh so how
how does the Grail Pro unlock this
dormant capital? Obviously, our our goal
here is to make Bitcoin um as kind of
like the foundation of the global
economy like how are we shifting towards
that with the products that we have? It
basically opens up the ability for BTC
to be used directly with DeFi as well as
the Bitcoin network to host other kinds
of assets which can interact trustlessly
with um BTC. To give a um simple example
because that's an entire world of
applications to give a simple example,
what this means is that um let's say uh
I want to borrow against my Bitcoin. I
can turn my Bitcoin into collateral. In
other words, I can say, "All right, um,
here's BTC in the form of ZKBTC.
I'm I'm pledging it as collateral, but
it's not moving. It's not going
anywhere. I'm not trusting anyone. And
so long as I keep making my interest
payments, um, the BTC effectively
remains mine. And once I've finished
making my interest payments, the BTC
automatically unlocks and becomes
available to me again." And so this is
the first time that it's possible to use
BTC as collateral without taking on any
counterparty risk.
Wow, amazing, short and precise. Thank
you so much. Um, with that being said,
let's quickly move on to the updated
road map. Um, as you guys know, we
recently announced the updated road map,
also known as the book of boss. So let's
dive into chapter one which is the
transformation um phase of the book of
boss. Um so what are some of the key
upgrades that are happening right now
with Grail Pro and Charms? Um obviously
you guys have dived into this uh with
the previous questions that I asked, but
could you just give us a quick like
Uh, Gotti, if you if you'd like to jump
in there, my friend.
>> Um, yeah, sure. So, right now we're in
in the phase that we're testing
internally, Grail Pro together with
Charms, and we're um doing um we're
we're minting um ZKBTC
in order to represent TVL. Um,
we're also concentrating a lot on the
user experience which is now the focus
for us because we want to have a good
user experience later when we launch
these products.
Um and uh we're working on integrating
the system with custodians and third
parties and other blockchains and that
will allow us later to put into play um
the ZKBTC that we mean so that it can be
used on additional systems and blockchains.
blockchains.
>> Fantastic. Thank you so much. Um and
yeah, we're moving a little quick here
just because uh there's like I said a
lot of community questions coming in. Um
let's move on to chapter two, which is
the production phase. Um what does
testing and institutional piloting look
like for the Grail and how does charms
eventually uh evolve into this like DAP ecosystem?
>> Well, for for for anything to be a DAP
ecosystem, there need to be
applications, right? So that means that
we have to bridge the gap. I I said I
I'm not sure I did say earlier, but I
should have said that charms is a
blockchain agnostic protocol. And what
this means is that a charm really exists
no matter which blockchain it's on. When
we put it on Bitcoin, it enjoys Bitcoin
security. And we can then beam it we use
the the word beam uh bridgelessly and
trustlessly to other blockchains to
participate in whatever applications
exist on those other blockchains.
So um by institutional pilots what we
mean is that we want to bring in
custodians and um third parties to
integrate with with the Grail Pro and by
integrating with Grail Pro they increase
its security because every time somebody
becomes an operator they increase the
security of the entire system.
Um, DAP integrations means that we need
to be able to beam the charms to other
blockchains so that people can use them
on existing DeFi indexes on other
blockchains such as uh Kadano and EVMs.
And we want to scale TVL by gradually
building more value and um
increasing the availability of Zik BTC.
Awesome. Thank you so much, Gotti. Um,
and then the final question for you
guys, which is for chapter 3, the
expansion phase. Yago, you might want to
jump in here. What is the big vision
here? What does Boss look like when
ZKBTC, Grail Pro, Charms, all are all
The big so the the endgame is that um we
no longer have this distinction between
traditional finance and crypto between
crypto and bitcoin and between um you
know bitcoin crypto and the internet.
The um end result is that um users will
be able to log on to applications in the
same way that they're logging on to
applications today uh through their um
you know computer desktop their their
phone um or you know through whatever AI
assistant is doing this in the future
and um they will be able to transact.
Now, the the assets that they'll be
transacting on are going to be global
and censorship resistant and secured by
Bitcoin. They're going to be um uh able
to use these systems um without uh uh
there being the limitations of having to
choose a specific
um uh blockchain on which they are
developed because they will work across
all blockchains because that's the the
the power of blockchains integrating
with Bitcoin and charms being um a uh a
crossplatform system. And so the assets
are able to move from one system to
another seamlessly and still remain um
um uh programmatically uh tied to the
same smart contracts that they were
regardless of what that chain is. Um so
that um it's easier I think to describe
how that works and why that's important by
by
um drawing the comparison to where we
are today. So if you're a developer
today and you want to build a web
application, you build an application,
you put it on the internet and everyone
in the world can access it and you're
done. Build once access everyone. But if
you're building in the crypto space, uh
you have to choose a blockchain, you um
can build a system, but um any smart
contracts that you build work only on
that chain. If anyone has an asset in
that system and they move it to another
chain, it can no longer talk to the
smart contract. And um if you want to be
able to access everyone, you basically
need to go and redeploy your smart
contract in different languages,
uh different security assumptions and
across multiple different chains.
And from the users perspective, this has
created an extremely fragmented
experience with worse UI, worse
security, and worse liquidity. And it is
also really limited the degree to which
um crypto can be adopted. Beyond that
because um this space is very fragmented
and so much of the activity is happening
on across all of these you know
different chains with different assumptions.
assumptions.
It's significantly limited the degree to
which traditional finance and
traditional assets can migrate into this
world because the world just feels
unsteady uh constantly uh changing um
and and extremely immature. And so what
we are
building here is what we see as the
ultimate opportunity in using
cryptography and and securing property
rights by cryptography which is to build
a single cohesive world where all assets
can interact with all other assets. All
people can transact with all other
people and the experience is seamless.
Not because
um there's a huge amount of bridges and
and and and and and meta protocols that
are built in between, but because the
the fundamental
architecture of the system is logical, unchanging,
unchanging,
simple, and secured by Bitcoin.
>> Incredible. Um, you know, one piece of
information that's stuck with me that
you've shared in previous calls and and
with the community as well is that you
can have this incredible piece of
technology, but you know, without an
operating system to come in and manage
resources, create this seamless user
experience to create interoperability
interoperability between apps, you're
going to be kind of left with this state
of like chaos, which is ultimately where
we're at with crypto today, right? So I
think that's you know that's the
ultimate goal here once again is to end
fragmentation to create unity to create
oneness and with that we can kind of
take cryptocurrency take Bitcoin take
the global economy to that next level to
that next step. Um so with that um let's
dive into the community questions. Um
I'm going to try and get through as many
as I can here. Again we're probably
going to have to like keep it short and
precise with the answers. Um, I did want
to mention once again, guys, for those
of you that are just joining, that I
will be doing a small giveaway today. I
will be giving that out randomly to one
of you. Um, but you do need to be
following me as well as the team here
because that's the only way that I'm
going to be able to um actually like
reach out to you. I will not be DMing
you. I will be tagging you if you are
the winner. So, that will be announced
after this space. Um,
let's move on to the questions. So,
Stormfister asked about TGE, but we did
mention that. I will still give you some
XP for Zilly there, my friend. Uh, let's
see. Lord Whitefire. Um,
how will the Book of Boss address high
Bitcoin network fees to make ZKBTC
practical for everyday DeFi use like
lending or trading?
>> In two ways. um first uh the ability to
utilize your ZKBDC across um
multiplicity of chains that integrate
with Bitcoin via Boss and second by
taking um transactions and being able to
aggregate these transactions so that um
you and perhaps a thousand other people
making thousands of transactions can um
behind the scenes convert that those
transactions into a single transaction.
uh on Bitcoin and so you the benefit of
Bitcoin security is still maintained uh
but you're sharing the cost of that
Bitcoin transaction with potentially
thousands of other transactions.
>> Thank you Yago. Uh this next question is
surrounding the pre-sale. Sudi said, "I
would like to ask a somewhat critical
question regarding the pre-sale. The
pre-sale was supposed to end a few weeks
ago at TGE." um referring to Q2.
However, it was left open with two main
arguments. One, more people should have
the chance to participate and the
postpone postpone postponement or rather
not all 5% has been sold yet. You are
currently releasing a lot of cool
announcements that are keeping the hype
going. Unfortunately, this generates
less FOMO because everyone can still
buy. How do you ensure that there will
be a high demand at TGE when you are
already making so many fantastic
announcements about products? Um
early buyers did get a better price but
the differences are relatively small in
the stages. Um
>> yes I'm happy to address that. Um the uh
from the very beginning prim
it was uh clear that we would leave the
um uh pre-sale open until TGE and um the
reasons for that uh are um uh primarily
to do with um regulatory con
considerations. Um the
um reality is that we are keeping it
open but as you guys have probably
observed there isn't a significant
marketing push around it. That is not
the goal right now. the goal is to get
to TGE and the primary um opportunity is
that this suddenly opens up um the the
there there's a moment where suddenly
Boss token and the Boss system become
available to the world um across a huge number of uh platforms that people are
number of uh platforms that people are already familiar with. Um and so um
already familiar with. Um and so um there will be a a marketing effort in
there will be a a marketing effort in the leadup to TGE.
the leadup to TGE. Um it will not be focused on uh the
Um it will not be focused on uh the pre-sale and um and uh I would say that
pre-sale and um and uh I would say that there there's effectively two things
there there's effectively two things here. One is that our goal is um not to
here. One is that our goal is um not to build hype for the purposes of uh the
build hype for the purposes of uh the the day of TG the the the day of TGE is
the day of TG the the the day of TGE is going to open up the ability to be part
going to open up the ability to be part of BOS to the world anyway. We don't
of BOS to the world anyway. We don't need to make extra efforts there. And
need to make extra efforts there. And second, this is not a a project which is
second, this is not a a project which is aiming for uh you know as its most
aiming for uh you know as its most important day uh the when the bus token
important day uh the when the bus token is launched and when it begins trading
is launched and when it begins trading that is in many ways the least important
that is in many ways the least important day. What happens and what is important
day. What happens and what is important is what happens afterwards. Over the
is what happens afterwards. Over the next few years, we will be building uh
next few years, we will be building uh what we believe and I think with good
what we believe and I think with good reason believe is a fundamentally
reason believe is a fundamentally critical part that has been missing not
critical part that has been missing not just from Bitcoin but from all of crypto
just from Bitcoin but from all of crypto which is the operating system which
which is the operating system which allows crypto to truly become uh a
allows crypto to truly become uh a mature system and be used by um the
mature system and be used by um the world for all of finance, all of
world for all of finance, all of property And um and we're doing this at
property And um and we're doing this at a time when the world is becoming so
a time when the world is becoming so interested in being able to use um
interested in being able to use um Bitcoin and to use crypto for what has
Bitcoin and to use crypto for what has up until now been uh Treadfi. So, we're
up until now been uh Treadfi. So, we're introducing this technology and this
introducing this technology and this critically important OS just as the
critically important OS just as the world is demanding
world is demanding exactly this because the the the world
exactly this because the the the world of Treadfi is now merging or seeking to
of Treadfi is now merging or seeking to merge with Bitcoin and crypto.
merge with Bitcoin and crypto. >> Well said, my friend. Well said. Uh this
>> Well said, my friend. Well said. Uh this next question comes from Cutless. you um
next question comes from Cutless. you um expressed excitement for the AMA,
expressed excitement for the AMA, appreciation for everything that we've
appreciation for everything that we've been doing, appreciation for always
been doing, appreciation for always answering your questions. Thank you so
answering your questions. Thank you so much, my friend. That's what we're here
much, my friend. That's what we're here for. Um however, you your question was
for. Um however, you your question was surrounding the bro um sorry, the charms
surrounding the bro um sorry, the charms bro mecoin. Um I if I could just ask you
bro mecoin. Um I if I could just ask you to please uh reach out to uh the
to please uh reach out to uh the solution who is also Andrew uh in
solution who is also Andrew uh in general chat to help you out there. Um I
general chat to help you out there. Um I I would appreciate that my friend. I
I would appreciate that my friend. I will still give you XP though for
will still give you XP though for participating. Um so Steve Hoppy here
participating. Um so Steve Hoppy here said,
said, "Could you please describe the flow of a
"Could you please describe the flow of a basic DeFi transaction with ZKBTC and
basic DeFi transaction with ZKBTC and how long it would take for the
how long it would take for the transaction to be finalized on the
transaction to be finalized on the actual blockchain?"
actual blockchain?" >> Yes. Um so I'm going to once again use
>> Yes. Um so I'm going to once again use the very very simple example which I
the very very simple example which I consider the basic the most simple
consider the basic the most simple primitive
primitive uh for using BTC in uh DeFi which is I
uh for using BTC in uh DeFi which is I can now come I can um uh
can now come I can um uh turn my BTC into collateral
turn my BTC into collateral um if I'm an institution I can turn my
um if I'm an institution I can turn my BTC into collateral while it still
BTC into collateral while it still remains within my wallet at the
remains within my wallet at the custodian so it doesn't even leave my
custodian so it doesn't even leave my wallet
wallet um
um and I can borrow against that so that I
and I can borrow against that so that I can generate yield or so that I can
can generate yield or so that I can start seeing some of the value of that
start seeing some of the value of that bitcoin without taking on any
bitcoin without taking on any counterparty risk and where there are
counterparty risk and where there are very clear
very clear predefined and automated rules about how
predefined and automated rules about how I get my my my bitcoin to no longer be
I get my my my bitcoin to no longer be collateral and the reason I would want
collateral and the reason I would want it to no longer be collateral is because
it to no longer be collateral is because I would uh want my bitcoin uh to be
I would uh want my bitcoin uh to be completely free right I can use it in
completely free right I can use it in any other way I don't only want to use
any other way I don't only want to use it as collateral. And so from the user's
it as collateral. And so from the user's perspective, they would come to some
perspective, they would come to some kind of application. They would say,
kind of application. They would say, "All right, I want to borrow against my
"All right, I want to borrow against my Bitcoin.
Bitcoin. I borrow uh I put in a bitcoin. I borrow
I borrow uh I put in a bitcoin. I borrow um you know,
um you know, Bitcoin uh $70,000 and um I pay back
Bitcoin uh $70,000 and um I pay back that $70,000 over the next five years
that $70,000 over the next five years and now my Bitcoin is unencumbered
and now my Bitcoin is unencumbered again." And so it's a completely
again." And so it's a completely seamless experience without any uh third
seamless experience without any uh third party being required in the middle. Now
party being required in the middle. Now from there much more complex and
from there much more complex and interesting things um like yield
interesting things um like yield programs like um uh staking like uh uh
programs like um uh staking like uh uh managing inheritance um can all be
managing inheritance um can all be built. And the best way to think about
built. And the best way to think about what it will look like in the early days
what it will look like in the early days is to look at what DeFi looks like in
is to look at what DeFi looks like in the rest of crypto as as sort of like a
the rest of crypto as as sort of like a a test example or an early example of
a test example or an early example of what uh of of how Bitcoin will be used.
>> Thank you, Yago. Appreciate you diving into that. Um do you feel like you have
into that. Um do you feel like you have a couple more minutes or should we come
a couple more minutes or should we come to an end here? I think I we could do a
to an end here? I think I we could do a couple of more minutes.
couple of more minutes. >> Okay. Um, with that being said, guys,
>> Okay. Um, with that being said, guys, I'm going to have to just pick through
I'm going to have to just pick through some like random questions here to give
some like random questions here to give fairness to everybody, but like I always
fairness to everybody, but like I always tell you guys, you know, if you want
tell you guys, you know, if you want your question answered, make sure that
your question answered, make sure that you get those out um as as soon as the
you get those out um as as soon as the community call gets announced because
community call gets announced because otherwise your questions get left behind
otherwise your questions get left behind and then we'll have to like address them
and then we'll have to like address them on next week's community call. But I
on next week's community call. But I will say somebody did ask here, will we
will say somebody did ask here, will we have another AMA to follow if we run out
have another AMA to follow if we run out of time to answer questions? Of course,
of time to answer questions? Of course, my friend, we have an AMA or a community
my friend, we have an AMA or a community call every week, so don't worry about
call every week, so don't worry about that. I will give you XP for that. Um,
that. I will give you XP for that. Um, let's see here. I'm going to pick at
let's see here. I'm going to pick at random, my friends. Um,
random, my friends. Um, all right. Uh, Hamid asked, "What
all right. Uh, Hamid asked, "What partnerships are being planned to drive
partnerships are being planned to drive Boss adoption? What incentives exist for
Boss adoption? What incentives exist for developers building on the Boss
developers building on the Boss platform?"
platform?" >> Um, so we've already discussed a lot of
>> Um, so we've already discussed a lot of that um previously. Um people are aware
that um previously. Um people are aware I think of the fact that um uh we've got
I think of the fact that um uh we've got um Litecoin and VM Cardano as major uh
um Litecoin and VM Cardano as major uh systems that are being used on Cardano.
systems that are being used on Cardano. We've got um Sundial being utilized. Uh
We've got um Sundial being utilized. Uh recently um we seen a coalition of
recently um we seen a coalition of projects in the Cardano space including
projects in the Cardano space including wallets and DeFi applications um also uh
wallets and DeFi applications um also uh um joining um this coalition as well as
um joining um this coalition as well as um custodians. Um there are other things
um custodians. Um there are other things that are happening as well. One uh
that are happening as well. One uh interesting um and important target um
interesting um and important target um recently has been digital asset uh
recently has been digital asset uh treasury companies and in particular
treasury companies and in particular Bitcoin treasury companies seeking to be
Bitcoin treasury companies seeking to be able to u put their Bitcoin to work
able to u put their Bitcoin to work without taking on counterparty risk.
without taking on counterparty risk. that is going to um take time. And as
that is going to um take time. And as you guys are aware, there's also a large
you guys are aware, there's also a large number of other types of institutional
number of other types of institutional players like hedge funds um uh uh
players like hedge funds um uh uh uh firms, family offices that hold
uh firms, family offices that hold Bitcoin that um have been looking to
Bitcoin that um have been looking to sign on. So none of this is going to
sign on. So none of this is going to happen overnight. Some of it is already
happen overnight. Some of it is already happening. And so what we're expecting,
happening. And so what we're expecting, what we're already starting to see is
what we're already starting to see is the incremental
the incremental um increase of two things. One, the um
um increase of two things. One, the um parties who are using the system um are
parties who are using the system um are growing in number and two the degree to
growing in number and two the degree to which they trust the system and are able
which they trust the system and are able to use the system is growing um as their
to use the system is growing um as their confidence grows and their familiarity
confidence grows and their familiarity grows.
grows. >> Thank you Yago. Um so Earl said um no
>> Thank you Yago. Um so Earl said um no question just a comment for the team. My
question just a comment for the team. My perspective is that this is a new
perspective is that this is a new product and by using it and identifying
product and by using it and identifying issues we are helping to improve it.
issues we are helping to improve it. Congratulations to the team for the hard
Congratulations to the team for the hard work and long hours to build our future.
work and long hours to build our future. So Earl, I do believe here that you are
So Earl, I do believe here that you are referring to Bro, um, which is Charms's
referring to Bro, um, which is Charms's product. Um, I just want to make it
product. Um, I just want to make it clear, um, again, just very clear for
clear, um, again, just very clear for you guys, that
you guys, that Boss is a stack and Charms is a layer
Boss is a stack and Charms is a layer within that stack. Um, and Bro is
within that stack. Um, and Bro is Charms's new product, right? It's one of
Charms's new product, right? It's one of their products. It's a kind of like a
their products. It's a kind of like a community experiment, which is what
community experiment, which is what they've highlighted um whenever they've
they've highlighted um whenever they've talked about it. But I do want to
talked about it. But I do want to highlight there's actually no
highlight there's actually no correlation between Bro and the
correlation between Bro and the efficiency um of the BOSS protocol
efficiency um of the BOSS protocol itself. Um and also just no correlation
itself. Um and also just no correlation with the Boss token either because I
with the Boss token either because I know a lot of you were kind of um you
know a lot of you were kind of um you know making the that correlation. So
know making the that correlation. So again, I just really want to make that
again, I just really want to make that clear today. Um the whole purpose of you
clear today. Um the whole purpose of you know the the X space that we had on
know the the X space that we had on Tuesday um the whole purpose of you know
Tuesday um the whole purpose of you know this the conversations that are taking
this the conversations that are taking place within um our discord is simply
place within um our discord is simply because you know we want you guys to
because you know we want you guys to have a firsthand experience of what
have a firsthand experience of what charms feels like what charms looks
charms feels like what charms looks like. Obviously once again this has been
like. Obviously once again this has been an experiment so there's going to be ups
an experiment so there's going to be ups and downs highs and lows. Um, but I know
and downs highs and lows. Um, but I know for a fact that the Charms team is doing
for a fact that the Charms team is doing everything they can to help address
everything they can to help address those issues and um, guide you guys
those issues and um, guide you guys through it. Uh, with that being said,
through it. Uh, with that being said, let's move on to the next question here.
let's move on to the next question here. Um, so He-Man said, "Will Boss offer
Um, so He-Man said, "Will Boss offer staking options for token holders who
staking options for token holders who may not have the resources to run a slam
may not have the resources to run a slam node allowing them to earn rewards?"
node allowing them to earn rewards?" >> That's a great question.
>> That's a great question. >> That yes, so that is the intention. it
>> That yes, so that is the intention. it won't be part of the um first release.
won't be part of the um first release. We're going to um be focusing on uh the
We're going to um be focusing on uh the core functionality at security and
core functionality at security and productization as well as UI and
productization as well as UI and accessibility early on and then we will
accessibility early on and then we will be adding in um the ability to
be adding in um the ability to participate in staking and security
participate in staking and security secure securing the system even if you
secure securing the system even if you are less technical. Um after that
are less technical. Um after that >> thanks Yogs. Um Bitcoin boss asked is
>> thanks Yogs. Um Bitcoin boss asked is ZKBTC denominated in SATs like Bitcoin?
ZKBTC denominated in SATs like Bitcoin? >> Yes,
>> Yes, >> it is one to one guys. It is one to one.
>> it is one to one guys. It is one to one. Um let's see here. One final question
Um let's see here. One final question before we wrap up here today guys. Um,
before we wrap up here today guys. Um, trick a asked what about litm and what
trick a asked what about litm and what is its relation to boss?
is its relation to boss? >> Lithvm is a really interesting story.
>> Lithvm is a really interesting story. Litm is a rollup being built on litecoin
Litm is a rollup being built on litecoin which was definitely not what we were um
which was definitely not what we were um initially envisioning uh when we started
initially envisioning uh when we started working on boss. But the same
working on boss. But the same capabilities that we've built for
capabilities that we've built for bitcoin also make other chains like
bitcoin also make other chains like litecoin potentially doge uh monero um
litecoin potentially doge uh monero um programmable as well. And so LitVM is a
programmable as well. And so LitVM is a really exciting project. It's the first
really exciting project. It's the first ZK rollup being built on Litecoin
ZK rollup being built on Litecoin utilizing the Boss network and the
utilizing the Boss network and the technology built by Boss.
technology built by Boss. >> Awesome. Thank you so much. Um much much
>> Awesome. Thank you so much. Um much much major shout out to the team here. Thank
major shout out to the team here. Thank you guys for taking time out of your day
you guys for taking time out of your day to come on the community call and speak.
to come on the community call and speak. Um I know for a fact that the community
Um I know for a fact that the community has been so so excited to directly hear
has been so so excited to directly hear from you guys. Um obviously you guys are
from you guys. Um obviously you guys are on the tech side of things. you're on
on the tech side of things. you're on the infrastructure side of things. So
the infrastructure side of things. So you guys, you know, have all the latest
you guys, you know, have all the latest updates. You you guys see all the
updates. You you guys see all the progress that's being made. So, um, I
progress that's being made. So, um, I know for a fact that they are so so
know for a fact that they are so so grateful and so excited as well of of
grateful and so excited as well of of all the breakthroughs that we've been
all the breakthroughs that we've been having. Um, so and and of course you
having. Um, so and and of course you guys are amazing storytellers. You guys
guys are amazing storytellers. You guys know how to really highlight the vision
know how to really highlight the vision and um, you know, really showcase like
and um, you know, really showcase like what, you know, what we're trying to do
what, you know, what we're trying to do with Boss, what we're trying to do with
with Boss, what we're trying to do with Bitcoin, the global economy. um create
Bitcoin, the global economy. um create this you know seamless internet with
this you know seamless internet with value as you like to say Yago. So um
value as you like to say Yago. So um with that being said my friends um it is
with that being said my friends um it is Friday. Uh as you all know we end these
Friday. Uh as you all know we end these faces with just some good vibes. Uh
faces with just some good vibes. Uh Hillary actually did me message me
me message me message me message me message me message me message me on
message me message me message me on Slack and she said that the reggae was
Slack and she said that the reggae was uh making her ears bleed. Uh but uh
uh making her ears bleed. Uh but uh which is kind of uh questionable for a
which is kind of uh questionable for a poet. I I feel like a poet would very
poet. I I feel like a poet would very much like reggae, but um
much like reggae, but um >> Hillary is a boomer's boomer.
>> Hillary is a boomer's boomer. >> I'm going to tell her you said that. I'm
>> I'm going to tell her you said that. I'm going to tell her you said that. Um but
going to tell her you said that. Um but yeah, with that being said, guys, we'll
yeah, with that being said, guys, we'll end we're going to end on a good note
end we're going to end on a good note here. Like I said, you know, we're doing
here. Like I said, you know, we're doing a little bit of a mini giveaway here. Um
a little bit of a mini giveaway here. Um so I will be announcing that after the
so I will be announcing that after the space and um anybody who actually did
space and um anybody who actually did have their question answered, you will
have their question answered, you will be entering a raffle to win 30 engage
be entering a raffle to win 30 engage points. As you guys know, we recently
points. As you guys know, we recently launched our engage marketplace where
launched our engage marketplace where you can take those engage points from
you can take those engage points from Discord and exchange them for rewards.
Discord and exchange them for rewards. Um, and of course, you know, like I
Um, and of course, you know, like I mentioned to you guys, as we approach,
mentioned to you guys, as we approach, you know, TGE, like Yago said, in the
you know, TGE, like Yago said, in the coming weeks, um, there will be an
coming weeks, um, there will be an abundance of new exciting rewards
abundance of new exciting rewards available to you guys. And again, this
available to you guys. And again, this is just a simple token of our
is just a simple token of our appreciation to you. You guys have been
appreciation to you. You guys have been incredible. You guys have been
incredible. You guys have been supportive as always. You guys have been
supportive as always. You guys have been this amazing advocates of Boss. We
this amazing advocates of Boss. We couldn't do this without you. the
couldn't do this without you. the community is the backbone and so any way
community is the backbone and so any way we can give back as always we absolutely
we can give back as always we absolutely will. Um so with that being said my
will. Um so with that being said my friends uh have a fantastic weekend. Go
friends uh have a fantastic weekend. Go touch grass, hop off your devices. Go be
touch grass, hop off your devices. Go be in the present moment and I hope that
in the present moment and I hope that you guys have an incredible weekend.
you guys have an incredible weekend. Much love to you all.
[Music] And also quick shout out to Lord Dre.
And also quick shout out to Lord Dre. Always coming in with that alpha for his
Always coming in with that alpha for his community. Uh you know he always comes
community. Uh you know he always comes up uh on the speaker panel to get
up uh on the speaker panel to get exposure for his community. Big shout
exposure for his community. Big shout out to you my friend. You are always
out to you my friend. You are always Yes. Let's go.
Yes. Let's go. >> Let's go. Let's go. You're always, you
>> Let's go. Let's go. You're always, you know, once again, I always highlight
know, once again, I always highlight this, but you're giving your community
this, but you're giving your community the tools and resources they need to
the tools and resources they need to successfully navigate this space, which
successfully navigate this space, which we need more of. We need more leaders um
we need more of. We need more leaders um in the space that are operating with
in the space that are operating with this mindset and this approach. So,
this mindset and this approach. So, always much love to you, my friend. It's
always much love to you, my friend. It's always love. And again, shout out to
always love. And again, shout out to everybody here. Um you know, we got a
everybody here. Um you know, we got a lot of regulars and a lot of new people
lot of regulars and a lot of new people as well. And it's amazing to have you.
as well. And it's amazing to have you. And you know, we look for forward to
And you know, we look for forward to being on this beautiful journey
being on this beautiful journey together. Guys, take care again. Have a
together. Guys, take care again. Have a fantastic weekend. Uh we do have a movie
fantastic weekend. Uh we do have a movie night that's coming up in two hours as
night that's coming up in two hours as well. Would love to see you there. We're
well. Would love to see you there. We're watching Castaway, which is, as you guys
watching Castaway, which is, as you guys know, uh an incredible movie. It was our
know, uh an incredible movie. It was our first little kind of exposure to, you
first little kind of exposure to, you know, what it would be like if we got
know, what it would be like if we got stranded on an island. Madness.
stranded on an island. Madness. Absolutely madness. The human experience
Absolutely madness. The human experience is very interesting because we
is very interesting because we absolutely all love that movie for some
absolutely all love that movie for some odd reason. Um, but I'll see you guys
odd reason. Um, but I'll see you guys there. Take care, my friends. Much love
there. Take care, my friends. Much love as always and we'll see you on the next
as always and we'll see you on the next one.
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