Transcript

[Music] thank you [Music] all right all right I hope everybody’s getting a hang of air meets and the system today yeah that X1 is good huh all right so so we’re uh we’re moving right along I think we’re mostly on schedule which is great and uh if anybody has feedback or questions let us know also we’re already getting applications for the Rings from a lot of different locations around the world thanks Jahan for inspiring us and me so um let’s keep that momentum well on past

01:08
just this hennycon let’s really grow the community and grow things so um Colin blah means hns worldwide a big supporter of handshake since the early days I remember I remember you in the in the neighbor Community uh discords chat then and it’s great to have you again this year I think you’ve been here uh every this is your how many handicaps seconds I think there’s a second one for me I was just in the audience in the first one okay cool well uh I’ve always appreciated your surveys and your

01:43
research about the data and the numbers and I know you prepared a little presentation to share as well Colin um so I’ll let you take it away um we’ll have some q a at the end or people can use a q a tab or of course chat um but um I’ll let you go from here all right awesome okay well thank you Mike and um thanks everybody for for making the time here um I’m gonna go ahead and share some slides up here um all right good looks like those just showed up um so like Mike said um I’m gonna spend about 20 minutes today um hopefully

02:21
glass and leave some time for Q a talking about um Market data and some Trends in the pancake ecosystem um you know always start with uh with the bad news right so um the first slide that you see up here um I thought just as um kind of an overall framework um you know we’re all subject as as people who are interested in handshake or you know my one of my particular focus is interested in buying and selling handshake tlds um we’re all subject to you know the greater forces out there um including um what the price of

02:55
handshake coin is um you can see the call out box that I put on the slide here um a year ago today um handshake was trading at 17 and a half cents and um today last I checked before this we’re about three and a half cents now so obviously it’s a much different uh a much different world than then um you know when we all gathered a year ago even though some of the some of the writing may have been on the wall but it’s a very different landscape and um before we get into really handshake specific stuff I wanted to take uh just

03:28
a couple moments and talk about uh really some bigger picture um you know elaborate a little bit on on what I mentioned those forces that uh um that handshake is subject to I thought Jahan made a nice point or put it nicely um in the uh the opening session um you know he mentioned that handshake um and this maybe makes it atypical among crypto projects handshakes always had a reason for existing um it’s not a um you know transparent self-enrichment scam for its uh Founders the way that you know I tend to think

04:06
um maybe even the majority of crypto projects are um uh and you know at various points there has been a lot of note ability and notoriety around handshake but you know just objectively it’s a much smaller project in terms of market cap in terms of awareness compared to a lot of other crypto projects and all crypto projects to a certain extent um you know we saw this uh both on the on the upswing and the downswing the last few years are subject to forces even beyond the crypto world the global Capital markets

04:39
governmental action um and you know for smaller coins like handshake you know the um the Bellwether crypto assets have a lot of influence in terms of you know price activity and Market sentiment so I just really briefly here wanted to put up and I apologize um for the U.S Centric nature of this slide I know I just mentioned Global Capital markets and as we saw a couple minutes ago we do have people coming from all over the world here which is great it sounded like a Huey Lewis in the news on when Mike was written off

05:15
all those cities but I did want to just talk here you know these are some Bellwether indices you’ve got the S P 500 the Dow Jones and the NASDAQ and these are just um you know the past 12 months for each of these and you’re seeing you know um either What In traditional Finance passes for pretty significant down performance or in the case of the Dow relatively flat you know compare this to the two to four years prior to this um when asset valuations across the board were really high and you know when are the good times gonna end didn’t seem

05:51
like ever that’s really um that’s really come to an end so the pain even though um you know handshake coin being down 80 percent is certainly a far cry from you know the NASDAQ being down about 10 but to a certain extent you know we’re all subject to some of these same forces just elaborating on that a little bit you know how much cash is in the system um what do what do investors what type of attitude I should say do investors have toward your proverbial risk on assets those are all things that are

06:27
going to make um and have really made a big difference in crypto and and in handshake the top of the slide here I’m sorry that it’s a little bit faint but I just wanted to include the 10-year treasury um people may have different opinions about what the right um you know interest rate Benchmark to put in here but the 10 rate or the 10-year um you know is I think as good as any um you know really we’re looking at if I can if I can find My Notes here um we were at about um 1.6 two years ago in terms of the

07:04
10-year treasury rate um we’re now um pardon my lack of good eyesight but we’re now in the you know four percent range that’s a huge difference and a huge um a huge departure from what you know for most of my I’m 36 for most of my adult life it has been ultra low interest rates and even frankly beforehand um so this is just a little bit of the you know kind of the global reality that everybody’s dealing with really quickly at the bottom of the um the bottom of the slide these two charts here are the Federal Federal Reserve

07:38
balance sheet um and this is again you know one one data pointing um the chart on the left is um you know for as long as data was available and then um I’ve you know called out um detailed the last year essentially um in the right in the bottom right hand corner um you know people um whether you follow you know Financial world or not um you know people just from reading the news have probably heard about um expansion of the fence balance sheet quantitative easing um you know expansive monetary policy um and basically the Federal Reserve I’m

08:16
probably the worst person to be explaining this um you know but as the Federal Reserve became over the last you know decade plus um the buyer of Last Resort for a lot of types of Securities and other Financial products um I couldn’t go on forever and what we’re seeing in the last year is not exactly a return to normalcy but a tightening of that previously you know very expansionary type of approach so you know what does that mean just bottom line less money in the system and a more you know scrutinous look at risk including for

08:56
assets like crypto and including for smaller crypto assets like handshake just continuing on and this is the final uh non-hand check slide I promise but just wanted to include you know for for perspective here a handful of um you know uh kind of a grab bag if you will of other crypto assets um on the top you’ve got Bitcoin and ethereum really um you know I think what anybody would consider to be the Bellwether assets and crypto and then at the bottom um a lot of the handshake ecosystem is um uh you know involved in Adam or are

09:33
interested in it and so that’s the bottom left and then Akash on the bottom right I know um grego Surrey their their founder I believe is going to be on one of the panels later today or tomorrow um but it’s really a pretty um these again are all um you know last uh one year uh charts um and it’s a pretty common um a pretty common theme across the board at least directionally um you know everybody’s nobody I shouldn’t say nobody but very few parties seem to be immune from uh you know the the crypto winter or the

10:04
general malaise that we’re experiencing um so on this next slide here I promised I’d actually uh start talking about about handshake um I’ve lined up here on the top um the primary market and on the bottom the secondary Market um Inception to date or as long as data was available um for handshake Market activity and in each of these charts um the purple line um which you can refer to the left hand access access excuse me um uh that’s uh primary and secondary Market respectively in handshake terms

10:39
and then the green line in each of the chart I’ve overlaid US dollar terms um and I should have uh you know brought this up in my my first chart I know I probably lose a little bit of street cred in the handshake ecosystem um you know talking about the dollar price of handshake um just being realistic um you know I’m biased my landlord still doesn’t accept handshake and does accept dollars but just from a more broad objective standpoint I think that um you know that’s the world that we’re living

11:11
in right now whether we like it or not and um I I don’t think that as handshake prices move the coin the TLD prices move you know totally one to one in terms of you know dollar price of handshake goes down prices go up totally proportionally um I I think that we’re seeing that you know for buyers and sellers we are somewhat Tethered to the um you know what does this actually mean in dollar terms um or in somebody’s you know base fiat currency if applicable if it’s not the dollar um that being said though you know what

11:50
I want to point out related to the primary auction or the primary Market auction uh bit volume and just just for record here this is um this is total bids so you know the aggregate figures of 414 million handshake and almost 70 million dollars that um you can you can um think of as the open interest as opposed to the you know ultimate purchase per you know aggregate purchase price paid um for all these registrations I haven’t uh done a math on on all of that yet but it’s interesting to note that you know in

12:25
this um in the spring of 2021 when the first year of handshake was completed the first 52 weeks of weekly TLD releases was completed um I I personally was expecting at that time for there to be in handshake terms and dollar terms whatever for there to be a drop off in auction volume uh with the with the Assumption being that wow a lot of the good names have been taken um you know it’s I don’t want to say bottom of the barrel but you know um all the a lot of the good names have been taken and maybe some things that

13:00
people haven’t thought of will come up um but I was wrong about that I’m happy to you Crow on that um you know we’ve seen um we’ve seen you know the primary Market activities stay um very resilient and even increase since that period in time some of that is um uh you know names not being renewed and being competed on again and uh there’s some great um you know programs out there that people have created to help people identify that but I think that just speaks to General resiliency um even with the um you know the even

13:33
with the reality that in dollar terms that has translated into lower and lower um uh you know actual dollar values you know particularly in the last quarter of last year when um you know crypto winner was at its coldest everything was hitting the news about FTX and other other scandals and um you know handshake price was down in the two two and a half cents range um I’ll keep moving moving along here and just wrap up um secondary Market you know it’s a similar story with a lot of resiliency and even an increase in handshake firms

14:10
um it has gotten down uh to lower levels in U.S dollar terms I’d like to point out though that I think it was starting in December that was the first month in over um over a year and a half um because I’m getting this right that um dollar value of secondary transactions was um uh below 100 Grand so you know take it where you can get it I’ll um I’ll go ahead and just wrap up um my final visual slide here I just want to include include for comparison um uh you know I don’t want to call ens and UD competitors I think they’re you

14:49
know often cases um especially in the case of ethereum lined with handshakes Mission I did want to kind of rack and stack a little bit though in terms of ultimate sales volume and I know there are more projects out there as well but I consider ens Unstoppable domains and handshake as the big three just in terms of secondary market sales which isn’t the only thing you can look at for sure um but um ens is pen shoulders above here and you can see that I I didn’t go through and um work out real-time dollar values for everything

15:20
but I did include some um you know if you want to just multiply some average um youth assumptions to the in the case of um ens over 75 000 each worth of um worth of secondary Market transactions so at the low end of that um whatever you want to assume for for average youth price that’s 113 million dollars um it’s a little bit of a different story with ethereum or I’m sorry with unstoppable domains um really and this was something interesting to look at just because of some you know sometimes some of the

15:53
statistics I’ve heard coming out of that camp um but really um on the secondary market sales side um UD I should say has been um a little bit behind handshake um and even more distantly behind ens um meaning that um you know I don’t again this chart is just here for representative purposes because it was easier than me doing the math but um for um for Unstoppable domains to have secondary sales that are higher than handshakes you’d have to assume that you know their sales were an average of forty five hundred dollars

16:30
per piece which which I don’t think is the case so anyway just a little bit of um uh you know context um for purposes here I’m getting uh Mike I I know I’m running a little bit long here um so if we still have time I’d love to um uh love to take any questions that people may have or cover anything that you think um we should but that’s uh that’s it for my major slides here thank you thank you Colin thank you so much uh I love the data I love I know you spent a lot of time making these

17:06
reports is this report going to be on your blog or somewhere people could get it if they want to see um I’ll I’ll make this public either on Twitter or on the blog I’ll do that uh tonight or tomorrow at the latest so that people can can uh you know dig into this uh in particular time and know I went through pretty quickly okay uh we have a question here from Ricardo from dot Universe uh you know I’ll read it out loud but you can see it do you think a burn for handshake would be a good idea um yeah

17:37
you know I’m not I don’t know if I know exactly what what the mechanics of this question would be um you know as you know Mike obviously there’s some burn mechanics already built into the to the protocol in terms of you know the primary Market auctions and um you know the winning bid amount being being burned and removed from the protocol uh total ultimate Supply um I don’t know that it’d be worth you know the political um uphill battle of trying to I think you would have to do some sort of a fork

18:13
for something like that what I do think is worth people um for better for worse you know most of the fast developers a lot of um we’ll talk about this in other sessions I think a lot of um uh you know Reserve name recipients haven’t and at this point probably aren’t going to or won’t be able to claim their names so I think that as a community it would behoove us to spread the world spread the word I should say that um you know it’s not a 2.

18:40
04 or whatever it is um maximum Supply on an effective basis you should back out you know you can assume that you’re going to back out a certain proportion of unclaimed assets and that’s going to bring the overall supply for all practical purposes down okay um the expired names I I I can’t recall I think dot X has one um link and there’s some other links but do you want to shoot yeah I I was having a a mental lapse when I was bringing up that point um I know that so they can be bid on anywhere to my knowledge anywhere that you bid on

19:18
normal um unregistered tlds um and maybe someone in the comments can help out here but there was at least one individual in the ecosystem who put together I think it was a a bob wallet or a shaked X add-on that allowed people to see what the um what the upcoming um expirations were you know it’s kind of kind of like yeah let’s make it link it in the chat that would help I can’t recall I I remember X and then slash piring yeah Fernando all she just shared um yeah and Kirk so so that’s that’s the link

19:56
um but yeah basically the expired names automatically show up in name base and in you know any other um auction platform like Bob wallet or wherever there’s explorers showing upcoming name auctions they automatically move up but um okay I think we’re in low on time time’s up yeah so our time is up here okay um any last words Colin or how can people find you I think uh sure um the best way to reach me is I’m at his worldwide on Twitter and I am okay at responding to direct messages um so um I’ll that’s probably the best

20:31
way to reach me um and I’m also around on on some of the discords as well um Mike thanks so much for everything you and the team have done uh off to a great start um I appreciate it yeah it’s been smoother than I thought I was you know a little bit don’t say that brother yeah I know I’m jinxing myself all right okay um yeah so there’s some some chats I hope people are getting some we can’t answer every single question I see Paige asking about expired strings um of course it’s a protocol people can

21:03
run make their own apps and scripts to to find expiring names but fault she’s just saying um they’re just become a a a normal name like uh just just a a blank one right just available to open you have to open the name on the auction right so if a name expires it doesn’t automatically go to auction it’s uh it’s it’s just uh not yet opened so you actually have to open the auction again it doesn’t automatically go to auction you need somebody has to send a request to the protocol to open the name and then bid on the

21:38
name you have to start the auction okay thanks Paige thanks for being here thank you everybody we’re going to close this session uh hopefully everybody can figure out the air meet you’ll see view schedule for those joining and then join the next session so we um I’m losing track of the schedule myself there’s so many great ones I think it’s going to be a little bit relating to burn hns protocol panel is next Buck Colin you’re going to be moderating so I’m excited for this one that’s right you’re stuck

22:04
with me so I’ll see I’ll talk to you in a minute so I’ll see you in the next session everyone all right [Music] foreign