Replay link: https://twitter.com/unimeta_top/status/1650830249528270848?s=46
Time: April 25, 2023
Spokesperson: Bool Network cross-chain protocol co-founder Ronnie, Themis Labs co-founder Michael
Moderator: Jason, Head of Unimeta Chinese Region
Jason: Good evening everyone, and welcome to today’s first Twitter Space event co-organized by Themis Pro and Bool Network! I am Jason, the head of operations for the Unimeta Chinese community. We know that on March 14th, Filecoin officially launched FVM, which has attracted a lot of market attention again to Filecoin, which has been silent for a long time. Similarly, we at Unimeta are also paying special attention to the recent development of the Filecoin ecosystem because of the launch of FVM. We are looking for some opportunities, so we are also preparing to organize long-term topics related to Fil, and also aim at more original Fil currency holders to join us in exploring new narrative opportunities in the next Filecoin ecology. The theme of this AMA event is "FIL's ecological dilemma is still there, how can FVM save Filecoin?".
We are very honored to invite Ronnie, a partner of the Bool Network cross-chain protocol, and Michael, a cofounder of Themis Labs, to participate in this AMA event. Ronnie is an old Filecoin miner and a technology guru. We have already known Ronnie in the circle before. We have heard that Themis Pro, a dark horse project in the industry, has been studied in depth recently. According to our understanding, Themis Pro has been frequently reported by various media recently. We have seen that Themis Pro has been making contributions to the development of the ecosystem. Through unremitting efforts, we are also constantly improving our technology and service capabilities.
Now, let’s officially talk with Bool Network and Themis Pro about the future development prospects and existing difficulties of FVM in the Filecoin ecosystem. Let’s start with today’s first question.
First of all, please let Mr. Michael and Mr. Ronnie briefly introduce themselves to everyone, introducing their background, identity, experience, and current main products.
Michael: Hello everyone, I am Themis Labs cofounder Michael. I am very grateful to Unimeta for organizing such an AMA and having such direct communication opportunities with so many friends from the mainland. I currently travel frequently to and from the mainland, Singapore and Hong Kong, and I am also working on Witnessing the rapid development and growth of Themis Pro, one of our core products, major communities around the world, especially the Chinese community, are developing even more rapidly. This may also be because of the blessing of the Filecoin ecosystem. I entered the encryption industry 6 years ago. I have been researching and participating in some projects in various encryption fields as an investment analyst and product operator. This industry can be said to be turbulent, and the development iterations are also quite constant. Fast, new concepts, new tracks, and new narratives are replaced very quickly. During this period, I stepped on pitfalls and grabbed good projects, but overall I still made money. So my final summary of experience is that the biggest danger is actually not daring to I can’t believe it when I get on the bus. Investment itself is risky. If there is no risk, it’s not investment. It’s called saving money. In the field of encryption, if you could see clearly and thoroughly than those super awesome people, you would have reached their position and level of wealth long ago. But in fact, you haven’t yet. So in this case, it is wrong to just try more. In this way, cognition will improve quickly, because the cost of trial and error is very low, but the cost of missing out is actually very high. Okay, let me also introduce Themis Pro, a core product launched by Themis Labs, which I am currently investing in. A brief introduction to this product is actually a decentralized product based on the Ve(3,3) model that was chosen to be deployed on FVM first. Crypto-asset spot and derivatives exchanges have attracted more and more attention and recognition in the market due to their innovative capital pool designs and the high compound interest LP returns that provide liquidity, and have also been recognized by Filecoin. The official is paying great attention to it and is in close communication with Filecoin officials to jointly take some market actions to promote the prosperity of the Filecoin ecosystem.
Ronnie: Thank you UniMeta, thank you Jason for the invitation. I joined the circle around 2016. We are mainly a team with a cryptography background. Our research direction is zero-knowledge proof, MPC and related underlying cryptography technologies. The company is divided into three business sectors, including Filecoin mining as one sector, and our own projects such as Bool network, MPC service and other to B services. Then it was a coincidence to participate in the Filecoin ecosystem. It was a good opportunity. I felt that Filecoin’s underlying technology and the logic of this code can implement some such distributed storage solutions, and we quite recognized it. . At that time, we participated in some optimization projects at the software and hardware level of File coin, mainly for some B-side customers. Later, I worked on this cross-chain project of our own Bool Network, which is equivalent to decentralization based on cryptography. A cross-chain instructure, this is my personal experience. Basically, we are equivalent to doing cross-chain integration in the FVM ecosystem and the Sui ecosystem in this file coin.
Jason: Okay, thank you both for sharing. Is it possible that some of the technical aspects that Ronnie just mentioned may lead to some commercial cooperation with Themis Pro? Is it possible to have some discussions on this cooperation?
Ronnie: Yes, I think there is definitely room for us to cooperate. In the past, everyone’s understanding of Filecoin was mainly about mining and decentralized storage. But after March 14th, FVM was launched, so Filecoin A lot of smart contracts can be run on these virtual machines, and some other product mentality will also appear, and even scenarios such as DeFi products, gamefi products, NFT Marketplace, etc. will also appear. These ecologies require cross-chain technology to open up, and our Bool Network is focused on this technology. Themis Pro is the leading project of the File ecosystem, so we are very much looking forward to cooperating with Themis Pro.
Jason: Okay, let’s talk to Michael and Ronnie respectively. In your opinion, what are the current problems in the Filecoin ecosystem? Can you tell me in detail what the main problems are?
Micheal: To be honest, people love and hate Filecoin. I love Filecoin because it has such a good storage foundation, and has such a high global community foundation and consensus foundation, but I hate it because Filecoin itself does not promote the ecology very well. The construction and launch of a series of storage support policies did not actually solve the problem of value support but instead exacerbated the problem of computing power concentration. Of course, we know that even in such a market environment and under such economic conditions, Filecoin is still the absolute number one in decentralized storage even under today's currency prices. It still occupies close to 1% of the world. amount of data. So I still firmly believe that Filecoin is the most suitable for building an ecosystem at the bottom of all public chains. There is no other one. The Ethereum ecosystem has the first-mover advantage that it has been leading for so many years. That is the energy given to them by time. , understandable, but Filecoin actually has a huge data storage foundation. Only with this data storage foundation and data throughput calculation capabilities can it support more applications in the future, and this foundation is far better than Ethereum. So what are the problems with the current Filecoin ecosystem?
First of all, the current computing power is becoming more and more concentrated, which is not good. When you EOS, success or failure is BM. The once-deified belief marketing battle has stirred up the emotions of almost the entire crypto market. In the end, It was also because of the 21-node dispute that I personally pushed EOS to the altar and then pushed it down. The current FIL mining machine packaging upgrade (CC to DC) means that ten times the amount of FIL currency is required for mining machine packaging. Although there may be certain restrictions on the liquidity of the entire FIL, this will make the chips more concentrated in large-scale in the hands of miners. Because this policy means that for small and medium-sized miners, they will face rising costs in machine rooms and electricity prices, as well as dealing with unpredictable policy risks. Their expected earnings will be more unstable. If they cannot bear it, they will be out. So, in this way The result is to either quit or cooperate with big miners.
Secondly, after FVM was launched on March 14 this year, there has not been a project that really stimulated the activity of the public chain. The ecology is still so quiet, and it has not achieved very impressive results. We can see that the most applications now are Fil-related mines. Regarding the application of LSD launched by merchants, the liquidity pledged derivatives market is frequently mentioned on FVM, but this approach treats the symptoms but not the root cause. If the ecological financial system is not perfect, the overall finance will not be active at all, and the overall application consumption will It’s impossible to keep up. In the end, you will find that this will only be a one-man show directed and performed by the LSD practitioners. They cannot change the status quo of this ecology. On the contrary, this may only contribute to the ambition of a certain series of large miners to concentrate their computing power. , and the final pledge return and pledge release will still bring huge selling pressure to the secondary market. It is necessary to ensure that the market has sufficient digestion capacity by then.
Why do I focus on mentioning here that the current financial layer of Filecoin is not good, and the financial layer is the key to the prosperity of the Filecoin ecosystem. Let me use an analogy, such as the economic development of a country and the booming development needs of tertiary industries such as industry, agriculture, and services. The central bank's monetary policy carries out macro-control, and commercial banks, as the executors of the central bank's monetary policy, rely on a complete financial system to drive the development of various industries. All industries are inseparable from the activity of the financial market, creating greater capital creation. flow and use capital to create more production. Here Themis Pro can actually be understood as the role of a country's central bank, which can truly stimulate and revitalize the entire Filecoin ecosystem.
Jason: Okay, then Mr. Michael and Mr. Ronnie, based on your current understanding, how should you understand what FVM is? What does it have to do with the Filecoin ecosystem?
Michael: I believe Ronnie can always explain this matter better than me. After all, he is more professional than me from a professional perspective.
Let me briefly share my understanding. Before understanding FVM, we need to know the EVM of Ethereum. EVM refers to an independent virtual computer system, referred to as a virtual machine. This virtual machine allows every software program to Deploy and operate independently, and isolate all risks from the main chain of Ethereum. This is my shallow understanding. EVM is part of the Ethereum protocol that handles the deployment and execution of smart contracts so that the programs (smart contracts) running on it are isolated from each other. Since then, it seems that a Pandora's box has been opened, and many applications have sprung up. A large number of scientists and developers have rushed to EVM to develop their applications, including today's various DEXs with huge trading depth. It can be said that it is precisely because of EVM and smart contracts that ETH has the second position among the mainstream currencies today.
It is easy to understand when we come back to understand FVM. FVM can be understood as Fil's virtual machine and the programmable extension layer of Filecoin, which means that it can support a large number of applications/or smart contract programs for deployment and execution on Filecoin. . Then you should know the significance of FVM to Filecoin. It can be said that FVM is the cornerstone of Filecoin ecology and the soil of Fielcoin ecology. FVM may not perform very well at present, which means that the soil is not fertile enough now, but It doesn’t matter, the official has also announced that it will use IPC to deploy to Fiecloin to allow projects to build and allow their own subnets, so over time, this soil will gradually become fertile, and various species in the ecology will definitely increase.
Ronnie: In fact, I think what Michael just said is very comprehensive. The relationship between FVM and File is equivalent to providing a scenario from the perspective of a real public chain. In fact, the construction of public chains must be like this, and it does not happen overnight. It can be built, but it takes one or two bull-bear cycles to build an ecosystem well. What you may know about Feel is mining, or saving some CC data in the early days, and now save some DC data. Then we should build this public chain from the perspective of miners. So what kind of things should filecoin really do? First, filecoin has a huge community. The second is that there is a huge amount of data. Based on these two points, it should do some upper-layer application things, and build various financial products on it, or difi products, to achieve Such a path, thirdly, the FVM virtual machine of filecoin was only launched on March 14th. The withdrawal of FVM is inevitable, because from the perspective of a user in the currency circle, or some uh If defi players think about it, what will they be concerned about? It definitely requires the emotion of fomo to implement these defi applications, so that File can truly reflect its value.
FVM is a feedback function for the public chain, because the public chain has an output process. Then there is the consumption link, which requires applications to consume gas fees, etc. For the public chain, it itself is a kind of value capture, which is one aspect. In addition, with these defi projects, we can build a model similar to Lego and create a very clear and valuable target, which can also reduce some FIL circulation. So the summary is two aspects, one is gas consumption, and the other is value locking.
Jason: Mr. Michael, in view of the current problems in the Filecoin ecosystem, combined with the future development direction of FVM, what problems do you think Themis Pro protocol can help solve in the Filecoin ecosystem based on the large infrastructure platform of Filecoin?
In fact, I briefly mentioned just now that if Fieldcoin is to rise and gradually seize the position of the second largest public chain ecosystem, then it must first make the Filecoin financial layer active. Based on the Themis Pro team’s comprehensive and multi-dimensional analysis of the Filecoin ecosystem, as well as the entire team’s experience, cognition and technical capabilities in the DeFi field, as well as the advantages of the protocol itself, Themis Protocol fully possesses the conditions and capabilities to become the cornerstone of the Filecoin ecological financial layer . Themis treasury contracts, minting contracts, bond contracts, and subsequent stablecoin contracts can be understood as the central bank role of the Filecoin ecosystem, while pledge contracts, LSD business, AMM exchange Themis Swap, and exchange-type spot and derivatives exchange Themis Pro will assume Play the role of a Filecoin ecological commercial bank, providing a steady stream of liquidity and transaction scenarios for SPs, various applications, and FIL currency holders.
Themis Pro will have strong profitability because of its zero-slippage feature, which will greatly attract large-scale transactions of various mainstream currencies and attract a large number of stable currency transactions. Zero slippage means that it is naturally very attractive to large-amount transactions. For large-amount transactions, any small loss will be a considerable loss. When the Themis Pro vault fund pool has a large number of stable coins, it will It will greatly attract stablecoin transactions, because you will never be willing to exchange 1USDT for 0.9DAI. Therefore, compared with other traditional DEXs with the same amount of TVL, Themis Pro also has stronger revenue capabilities, which in turn brings greater repurchase intensity of THS tokens and allows THS to have better price performance. These things all happen on FVM, which will play a very big role in boosting the transaction volume activity of the entire Filecoin ecosystem. The consumption of Fil and driving more market enthusiasm and demand for Fil will not be affected at all. Doubts will eventually contribute to the continuous rise of Fil's own value, and the value of Fil will continue to rise. The more active Fil's ecology will be, it will ultimately promote the rapid development of the THS system, and will also drive the continuous rise of the value of THS, so FIL and THS will Forming a perfect DNA curve double helix rising.
Jason: Okay, Mr. Ronnie, I would also like to ask some friends on behalf of one of the reasons for choosing themis Pro for close cooperation.
Ronnie: It’s a very, very cool thing that we’re working together. If you want to start a public chain ecology, its first step must be to start the defi project first. Then themis pro is a defi infrastructure. I think it is a great thing. With these After the foundation of defi is established, a defi foundation can be slowly formed. The second reason for cooperation is that Boolnetwork, as a cross-chain Infrastructure facility, can work with ThemisPro to build the Filecoin ecosystem to attract more FVM users.
Jason: Okay, thank you Mr. Ronnie. You are also a very senior expert in this blockchain technology. I just want to ask you something about Themis Pro as an important builder of the ecosystem. How does it interact with the bool network? How will chain cooperation be technically realized? In addition, what boosting effect will it have on the development of themis Pro or the entire ecosystem? Please give us a brief share of this part.
Ronnie: Okay, first of all, let’s popularize cross-chain technology with you, which is what we at Bool Network are doing. As mentioned just now, we are mainly working on cross-chain infrastructure technology. For similar projects, the most familiar thing to everyone is cross-chain technology. Chain bridge, or like Anyswap, which is now called multi chain pair, and then for example, like Stargate, or some layer two Hope, these all belong to the level of cross-chain bridge.
Bool network is also positioned to be cross-chain. We can achieve decentralized and permissionless, that is, absolutely decentralized and permissionless.
This is what we have to do. The centralization of the cross-chain track is quite serious now, including the cross-chain security issues. In the cross-chain accidents in recent years, the stolen funds should be in the entire industry. It is considered a relatively large one. Boolnetwork uses the principles of cryptography to solve the problems of cross-chain security and versatility. Our technical solutions have also been included in top cryptography journals. We can definitely work with Themis Pro to build a new ecosystem based on FVM and help projects in the Filecoin ecosystem do some cross-chain actions.
Jason: Can Michael tell you in detail what kind of functional mechanism innovations or economic model innovations your Themis Pro product, DEX, has?
Michael: To be honest, there are still many innovations. Let me briefly explain some of the highlights: For example, first of all, Themis Pro does not use the traditional AMM automatic market maker and order book mechanism, but uses the Themis treasury capital pool model. The treasury fund pool is composed of mainstream crypto assets such as BTC/ETH/FIL and stablecoins, each accounting for 50%, to meet the needs of users for spot transactions and contract transactions.
Secondly, there is the automatic adjustment mechanism for the asset minting price of the treasury fund pool. If the proportion of a currency in the pool decreases, the protocol will automatically lower the price of minting THS for that currency to attract more people to replenish the currency into the pool for the purpose of arbitrage, so that each of the pools The tokens will always be in a balanced state, which will cause the number of assets in the pool to increase in a positive cycle to maintain a dynamic balance.
Third, the Themis-based treasury fund pool cooperates with the real-time quotation of the oracle machine to achieve zero slippage transactions. Under the traditional AMM automatic market maker model, the larger the transaction amount, the higher the transaction slippage. However, in Themis Pro, no matter how big a single transaction is, as long as it does not exceed the total amount of the token in the fund pool, there will be no slippage. I also talked about the benefits of this feature in the previous question, so I won’t repeat it here.
Fourth, we have good revenue capabilities and have released almost all of our earnings to provide liquidity to all investor LPs. We will encourage them to mint THS and pledge THS to obtain higher dividend income. Because the exchange platform is generating profits every moment, and we will still have basic DAO income and reserve treasury for every coin mint. Based on this, we currently provide dividends that are compounded every eight hours for pledged THS. As a reward, the interest rate compounded every eight hours is 80,000. Although this base number is not large, there are 3 eight hours a day and 1,095 eight hours a year. What is the concept, that is, the interest rate after one year? It is 1.0008 raised to the power of 1095 which is equal to 2.4 times. This high yield will continue to attract a large amount of funds into Themis Pro in a positive cycle. The actual income is far more than 2.4 times, because another innovative point in the Themis Pro protocol is that there is another protocol that contributes token SC. This SC can only be achieved by contributing to the Themis Pro system, such as inviting more LPs. After minting the platform currency and pledging it, the SC finally obtained can be used to amplify the basic interest rate of pledged THS. For example, 20% worth of SC can be burned to expand the basic interest rate of Wanba to Qiansan. In one year, the rolling compound interest income will reach 26 What’s even more clever is that in order to prevent concentrated selling from causing emotional fluctuations to more secondary market participants, the agreement does not allow all compound interest returns to be taken away directly after the pledge is released, but only allows all principal to be released immediately, compound interest The benefits need to be released evenly within 180 days. By burning SC, the benefits can be released as quickly as 30 days. However, coupled with the blessing of the (3,3) model, everyone will move towards the (3,3) behavior that is beneficial to the protocol. Go, so eventually the entire treasury will get bigger and bigger, and the market currency price will continue to support the rise in value due to increased revenue and repurchases. Eventually, it will reversely promote the increase in demand for casting and staking. This will be a perfect The rapidly spinning flywheel of growth.
In the end, you will find that THS will not be issued out of thin air. It does not have a fixed number of tokens at the beginning like other tokens. Each THS here is a valuable backing equity put into casting by actual assets. The pass, coupled with the innovative mechanism of DEX, which has strong revenue capabilities as a whole, will undoubtedly become a very potential dark horse in the entire encryption field, and will even allow Fil to lead a new narrative cycle.
Jason: The current product and service provided by Themis Pro, as well as its technical advantages and product highlights, from a logical perspective of value investment, will this be a good target?
Come, welcome Ronnie to tell you something.
Ronnie: Michael always introduced what Themis Pro does. From my perspective, I understand it as a decentralized stable currency. Its target is some fair tokens. The second part is to create a zero-slip currency. This can indeed solve some of the pain points of users, such as the exchange of some stable coins. Then I am very uncomfortable on Uniswap and need to do some optimization. Zero slippage is definitely an innovation point in the defi field. It is A financial paradigm shift that can provide users with a better experience, better capital utilization, and lower losses. Yes, I think Themis Pro has considered this aspect. Only by improving the capital utilization rate can we better complete the cold start phase of a defi project. It is an optimization at the financial level and a promotion at the emotional level of the market.
Jason: As far as I know, members who participated in the early Themis Pro community evangelism will have the rights to participate in community governance and obtain dividend income in the future. This is stipulated in the Themis agreement. I would like to ask Michael to explain to us the specific details of personal participation in the Themis agreement. What are the rights and interests?
Michael: First of all, here is the reward for the protocol contribution token SC that I just mentioned. This SC has a very great value in the entire THS system. Whether it is to increase your THS staking income or accelerate the release of your compound interest income, SC needs to be used, which means that the price of SC itself will rise very fast, and there are few ways to produce SC. It can only be obtained by performing actions that contribute to the protocol, such as inviting more through your own community evangelism. People participate in minting and pledging THS to jointly build a capital pool for others to trade and obtain their own LP dividend income.
In addition, we will distribute dividends every 10 days to partners who participate in becoming DAO nodes. Users who participated in the early stage will be relatively easier to be promoted to nodes when the market is not so red ocean. The level atmosphere of the node will be that of junior nodes. There are three types of advanced nodes, and finally there are super nodes that are limited to the top 33 that meet the requirements. It is only related to the amount of pledged THS that you have contributed. The dividend ratio based on each is 10%, 20%, and 35% of the entire DAO income, respectively, given to these three nodes. The newly added pledged THS every ten days can continue to create a large amount of dividend income for itself. Let me give you an example. After the total number of pledges by myself and the community users under my node exceeds 3,000 THS, the dividend ratio is 10%. If these 10 2,000 new pledges have been added within a day, 10,000 new pledges have been added to the entire network, and the DAO income is 50,000 THS within these 10 days, then your dividend income is 2000/10000*50000*10%=1000THS. If the currency price is 20u, then the 10-day income dividend is 20,000u.
Finally, I would like to emphasize that the paragraph on Themis official website is the soul of Themis Pro. The Themis Pro exchange does not belong to any individual or organization. It is a community-owned exchange. It has unique advantages, such as: 0 slippage, Low handling fees, high capital utilization, strong profitability, etc. These characteristics ensure that Themis Pro will definitely grow bigger and stronger. The foundation of this exchange is the treasury fund pool built by everyone. The treasury fund pool belongs to all THS holders. Holding THS is like holding stocks of a listed company, and is the shareholder of the exchange. THS is the shareholder certificate. 70% of the platform's profit is used to repurchase THS, which will lead to an increase in the price of THS, similar to the appreciation of the stocks of listed companies. If you hold the stocks of a listed company, you will also receive dividends from the listed company. The same is true for holding THS. Subsequent exchanges Part of the revenue must also be used as dividends for THS holders. Outstanding contributors in the early stages of the agreement, that is, the top 33 super nodes, will receive the right to shareholder dividends in advance, and 10% of the total platform revenue will be distributed to these top 33 super nodes who have made outstanding contributions.
The above are simple examples. The sooner you participate, the more rights you will have in participating in the construction of the node community.
Jason: Mr. Ronnie, how do you understand it from the perspective of an individual investor? These are what Michael always said just now about some of the gains gained from participating in Themis Pro in this early big ecosystem, and why it is worth participating in this Themis Pro.
Ronnie: I very much agree with what Michael said in general, that is, the project belongs to the community, it is neither personal, nor institutional, nor corporate. This is a good introduction. This is the spirit of Crypto Native. For example, Satoshi Nakamoto’s Bitcoin white paper Retreat after writing. This is the spirit of Crypto Native.
Having said this, I actually want to say it from another perspective, that is, if users participate in this ecosystem, they can easily obtain the right to use this financial instrument and have channels for participation, which is also very important. And participating in the early stage is indeed participating in the bonus period of a project.
Jason: Finally, back to our topic today "FIL ecological dilemma still exists, how can FVM save Filecoin?" 》, I would like to ask Mr. Michael and Mr. Ronnie to give us a brief summary. What exactly does FVM need to rely on to save Filecoin? And do you have any suggestions or words for FIL currency holders or other users in the crypto community?
Michael: Let me summarize what I talked about today. I think that after improving the performance of FVM, the most urgent need is to drive the construction of the financial layer of the entire Filecoin ecosystem. It needs more defi products like ours such as DEX. Secondly, Attract more other types of application layout FVM
The Themis protocol has an excellent model. The Themis team knows Filecoin very well. The team has been working in the DeFi field for many years, has rich experience, and its technical capabilities are second to none. Coupled with Filecoin’s official attention and support for Themis, I have great confidence in the Themis team. Themis will soon become the leader of FVM after it goes online on May 10. I believe everyone knows the meaning of the leader, such as: more attention, more blessings, more participation, etc. The advantages of the leader cannot be overstated. And we hope that more Fil currency holders can work together with Themis to consolidate Themis’ leading position in FVM and jointly promote the upward development of the entire Filecoin ecosystem.
Jason: Okay, then, let’s talk about your views, Mr. Ronnie.
Ronnie: Okay, first of all, everyone knows that the number of miners in the Filecoin ecosystem is a very large group, so after FVM goes online, how they participate in the new environment is very critical. In addition, everyone has been accustomed to centralized exchanges to trade assets before, but after DefiSummer, everyone began to trade on decentralized exchanges, so we also need to consider how to reduce the cost of decentralized exchanges. As for the threshold issue, the current learning cost is still too high, including some contract authorizations, the problem of currency theft in some contracts before, and the gas fees of some users. In fact, some optimizations can be done at the protocol layer. The third point is how to attract users to enter the market, such as the emotional value just mentioned, or building momentum, how to attract users from other ecosystems to come in through building momentum.
These points are very important.
Jason: Okay, thank you very much for your frequent speeches. We also hope that today’s AMA has also solved some of the questions of the audience. The Filecoin ecosystem is still very promising, especially after the launch of FVM, it will bring about very different changes, of course for the better. Let's look forward to it together. In the future, we can share more with you through AMA. This concludes today’s AMA.