chainlink avalancheBENQI on Chainlink Live DeFi P2P Lending Protocol on Avalanche

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so here we go on chainlink live welcome to chain link live my name is andy boy and im here with jd gagnon from benky finance benkis on avalanche and recently well not recently now a couple weeks ago i guess thats still recently launched with chain link price oracles uh for their lending protocol jd happy to have you on why dont you give us just a little primer what is banky whats you know kind of special about the project yeah uh little primer is kind of hard i could probably go on for 20 minutes but benky is uh algorithmic liquidity and money market on avalanche lending protocol probably the easiest way to characterize what we do um its just the first iteration of kind of the vision of benky as a platform uh but it was critical obviously for avalanche defy avalanche ecosystem to have kind of that foundational piece so that was where we started um lets give users and participants the opportunity to lend and borrow lets give other d5 protocols the opportunity to build strategies surrounding uh banky pools and here we are obviously uh things have gone fairly well lots of work still ahead of us but um were overwhelmed with with the support weve had so far yeah for avalanche for for a long time the network was live its been live for over a year um and there were there was defy on the sea chain for quite a while but it was all dexes pretty much different forms of decentralized exchanges because theyre amms which basically means you you dont need an oracle they make the prices themselves just the way those smart contracts balance those next level of d5 functionalities lending and stable coins and all that sort of stuff really were waiting for for price oracles and so once the chain link price oracles launched we saw banky come right out of the gates and it looked like people kind of pour it into banky and were really excited about that um can you describe like the type of enthusiasm did you know beforehand before that that day of launch how how much enthusiasm there was gonna be you know it were our own worst critics always right so we we build these we build these projects and you get excited and you have this vision and you build it out and you get to launch and you youve tested everything and you know theres always you know little bugs and stuff when you when you launch and you get thousands and thousands of people playing around with something but um we were confident we knew it was gonna work we knew it was secure we had lots of audits we had chain link um we had worked very closely with venture partners and you know uh strategic partners in different areas of the world so we knew we were going to have you know pretty good coverage but i if somebody would have asked me you know to bet on 2 billion tbl um i wouldnt have taken the bet i would have lost for sure i would have probably bet everything against it and expected to lose um theyre expected to never get there and so it was pretty uh overwhelming it was exciting obviously um its a new paradigm really for avalanche its a new paradigm for for us as a lending protocol um thats a thats a lot of responsibility obviously we planned for that we knew it would get there maybe just not as quick um but yeah it was a lot of anticipation i mean we worked very closely with you guys um it was critical to us to have proper uh oracle support um security is is number one really uh in any d5 protocol but especially in in d5 primitives and lending theres just so much value at risk um in terms of security uh you know people put a lot of capital uh a lot of assets in these protocols so we need to be 100 sure that uh that we dont have vectors unaccounted for and so i was wondering about that because is there extra even even extra pressure because youre one of the first if not the first like core really you know lending protocol on this c chain on avalanche that has a fair amount of hype and people come in and so if if theres a security problem with with yelp theres a security problem for right that thats terrible for the whole ecosystem on avalanche so theres that extra security uh you know and pressure and then theres this additional pressure of just having that many funds and two billion dollars is thats a crazy amount of money right if i could just say like that thats just not an amount that registers in most people yeah um so so how do you guys deal with that like as a team and as an individual im just curious like you know how do you think about that and how do you stay focused yeah you know i i mean we we take it seriously obviously um we didnt get into the the d5 primitives business in space um with the intention of not uh having this type of responsibility you know we wanted we came out publicly from day one um where i mean it would be pretty pretty easy for people to figure out who we are where we live what we do um and we did that on purpose i mean the the longer term vision of benky which im sure well talk about a little bit later on but um it is heavily focused on uh the regulatory environment and focused on compliance and kyc aml and in order to achieve those visions which well talk about um you know security your security history is is paramount and i mean we had a lot of support from from avilabs um because again being the first kind of larger platform to come out um if there were issues obviously it would look uh it would reflect poorly on the ecosystem and we have a lot of people that are you know waiting in the ecosystem for things to finally happen and here we are all the pieces are in place um so we had a lot of help or a lot of extra eyes you know a lot of support making sure that we we had all of the teas crossed and i started um we went the extra mile with security weve weve engaged hal born on an ongoing relationship so its not just a one-time smart contract audit they um they look at everything like absolutely everything from a security standpoint how our uh operational security happens all of our emails all of our everything that we do personally as a team also is um is looked at and consulted on from hallburn we have sertora um that you know that were working with uh also from uh from a security standpoint gauntlet um from a risk mitigation perspective and of course chain link i got a good friend whos um a head of security at a major crypto project and yeah uh audits are not a one-time thing like i think thats a misconception its its audit is a process that does not end like this is this is a real value and its other peoples value and um you you dont just stop and be like okay were good now check the box its this constant thing and and sometimes it takes a little while to get used to that you know if youre unaccustomed you know i came from academia and so my security was like you know make sure you dont share your key card and dont let people into your email that that was you know pretty much it um but you know theres real different levels of security and and for very good reason as well um so taking that it can be a little bit of a step um but speaking of uh using chain link as a protocol and working with chain link labs uh how how does chain link work uh tell the people like what what does what do chain link oracles do in in binky yeah so i mean one of the most important pieces of banky is is of course your collateralization rates um so you have to give collateral obviously and deposit money into the protocol and when you give collateral and deposit money you get yield on that asset and if you so choose you can then use that as collateral and borrow against it and theres a lot of theres a lot of reasons that you might want to do that in d5 um we wont get into those today but when you borrow the asset um the collateral theres a ratio theres a ratio that has to be considered to keep the platform solvent in a decentralized way and so in order to do that the value of your collateral has to be tracked very closely and chain link obviously provides price feeds excuse me for our major assets so that we can be confident as a platform the users the other users of a platform of the platform can be confident that um those price feeds are being accurately managed so that we know that if liquidations have to happen they happen with you know clarity and certainty uh i think what chain link does obviously that you know that that really adds a lot of value is theres a bunch of redundancy built into chain links um decentralized infrastructure theres a lot of um the feeds come from multiple sources and and theyre adequately balanced and so on so that were not seeing you know the potential for somebody to maliciously move price on one exchange have that you know do something detrimental to our protocol and and cause chaos and thats where you see flash loan exploits on on lots of different platforms um in the past you know having appropriate chain link feeds um it is a very solid protective measure against that nothing is uh a sure thing in crypto of course especially when the stakes are so high if somebody finds a way in theres theres a lot of assets uh accessible so um but chain link is you know has helped us to at least secure up that risk vector do you know or is that anybody doing flashlights on avalanche right now uh yeah theres there is access to flash loans um probably not in the size and scope that you would need to move um that you would need to move markets um again you know chain link has um done a lot of work i think and you know this as well as anybody obviously andy but chain link has done a lot of work i think to shore up the quality of the feeds the amount of volume thats required to have a chain link feed now trading volume the the um you know dispersion of trading trading platforms there has to be a certain amount of them um to be uh to be supported by chain link as a token theres redundancies and decentralization from exchanges to data providers to node operators into the clients too theres like three levels of clients in case anything happens to go wrong in the actual you know code theres a ton of redundancy built in there i i wasnt sure about the flashlight like i hadnt heard about that development on avalanche yet um uh so i was just curious about that um uh were starting to get a couple of questions as well people are starting to ask about assets like what can people use as collateral on uh but first let me lets clear something up how do you pronounce banky okay so we call it i call it banky um the rest okay thats it thats the official its banking you guys can the token the token is the chi token um and which is uh probably you wouldnt make that connection immediately but its the chi token um and so if youre in you know theres some asian influence of course in this we did we named it benky on purpose and if you look at uh in mandarin it would be banchi um i i probably said it wrong my teammates and colleagues are going to give me a hard time after but um thats the the uh asian pronunciation the mandarin pronunciation of of benki and it it does have some meaning um interest over time um in essentially is the the rough translation and so it was an odd to to our asian community also um it sounds cool its a its a really neat name the chi token uh yeah so thats thats okay so its banky but the chi tokens see thats maybe thats where people are getting uh mixed up on my chats theres you know arguing about all this and yeah conversation um i always think it was chi like internal power like tai chi like that sort of thing as well so i dont know if thats part of uh your thing but theres a lot theres a lot of ways we can build really fun stories around it over time all right let the lore build um so back to this what are some of the uh uh collateral that can we people can use now or that youre thinking about in the future and and a follow-up how do you make decisions about what collateral you want to include yeah good question um so right now you can have a vox as collateral you can have wrapped bitcoin wrapped ethereum raft chain link you can have usdc and die and you can also deposit usdt tether but you cannot use that as collateral on the platform and then um your follow-up question you know how do we how do we pick assets um theres theres quite a few things um obviously risk risk to the platform risk to the users is is the you know the single largest priority here part of the reason we partnered with gauntlet is gauntlet does a ton of um of ecosystem related modeling and you know risk assessments solvency assessments if this happens could we survive could we liquidate fast enough you know what are the collateral factors that we have to uh implement to be able to stay within a certain realm of of security and comfort and so when were looking at a new asset um the same way that gauntlet would do this for other platforms we would go to gauntlet and say hey were thinking about adding this asset to our repertoire um what do you think about it and theyll theyll run a whole bunch of assessments and theyre an amazing team if you if you havent looked into gauntlet please do uh the listeners and viewers theyre just phenomenal um and and then theyll come back with reports and analysis and say okay well this asset could work but we cant collateralize it yet um theres not enough liquidity in the ecosystem um if something was to happen if there was a some sort of impact in the marketplace we wouldnt be able to liquidate fast enough but if you want to offer support for lend and borrow you can you just cant collateralize it possibly or they might say you can collateralize it but its really low or therell be a borrow cap you can only borrow out um you know a million of that asset a million dollar equivalent of that asset and so theres theres a few things that we can toggle to manage risk obviously collateralization in general the collateralization factor and then the borrow limit um and those are kind of the three three dials though you talk about liquidity in the ecosystem were in a multi-chain world now people are on ethereum salon a polygon finance smart chain avalanche uh phantom you know uh all of the above yeah is when you talk about liquidity are you talking about the accessible liquidity on the c chain yeah for that given token or the amount of liquidity relevant to all the other you know the supply that might be on other chains if i if i take one link token and bring it over to avalanche and then the rest of it is elsewhere thats not a lot of liquidity on avalanche its going to be a lot harder to access so thats pretty deep question so if thats too deep im sorry but like this is actually a really it that were living in a multi-chain world so thinking about these things is kind of kind of interesting kind of important yeah so thats a good question so i mean from a pure decentralization standpoint and with the current tech infrastructure so the way that our liquidations are done um on on our lending protocol is an account goes into um imbalance where its its now um not over collateralized far enough anymore and then theres a something comes out in the contract that allows third parties to come liquidate that asset and then return the opposing asset that we need right so if that happens in a decentralized way that has to happen generally speaking in a flash loan environment or or in the one transaction right the way to mitigate that risk for the third party thats liquidating is they come in they do it all in one transaction they take their profit and they go and so theres we have a partnership with a platform called coo that were involved were involved with and and they have a liquidation bot specifically built for for benky and then theres other third parties that are liquidating loans on venky also other operators in the ecosystem its intended to be that way um and so the first kind of layer of risk mitigation is and the most decentralized um kind of perspective there is what can we liquidate in a flashlight environment inside of avalanche inside of the avalanche chain now the modeling does look and gauntlet does look at you know okay so there might be liquidity inside of ethereum for example for the link token but it has to be degraded in terms of its um its ability to help us in a liquidation environment because there is then multi steps someone has to take custody of the assets they have to bridge the asset then theres slippage and other things on the uh ethereum side then they have to bridge back the other asset um so theres theres multiple steps its not as clear its not as clean cut another way is you could you could facilitate liquidations to and from centralized exchanges but again um you know that the risk there has to be factored because its not clean cut its not simple it doesnt happen in one transaction its not immediate um so then we have to figure out are there third parties willing to take that risk and go to other networks probably if the if the yields are appropriate then people will um but how do we ensure that those yields are appropriate and what is an appropriate yield for someone to take that risk and what happens in a in a market shock event you know at what point does that yield become too low for risk and how do we model that and prepare for that so we dont have insolvency and thats what gauntlet works on they run incredible models to look at centralized exchange uh liquidations and you know where do we figure the parameters will balance out they look at other networks multi-chain what were excited about is you know theres a lot of projects building in the space right now to to figure out how to do uh cross-chain swaps in in a single transaction um and thatll be very interesting but were talking to a lot of last summer you know the the just the composability on the evm for defy was like okay now theres this extra level of complexity and and you know its like just getting our heads around that as an industry was was pretty significant and then now once you add multi-chain it doesnt just like multiply it by two if youre dealing with avalanche and ethereum it probably squares the complexity and then you had another one polygon and bsc so now youre you know cube et cetera et cetera so the complexity just keeps increasing those attack surfaces the risk surfaces keep increasing um we dont necessarily have clear uh answers to that and here nor do we need to but um thats a really interesting line of research and i wonder how complexity scientists may contribute to this in the future okay those are my research uh um plans the key really is i think one of the biggest challenges with the multi-chain world is remaining decentralized theres a lot of ways to do multi-chain stuff in a very centralized fashion um but its very difficult to do it in a completely decentralized way and one of the kind of complexity factors that you didnt mention there which is obviously present is now different programming languages on excuse me non-evm chains right so if youre gonna if youre gonna try to build a platform that interacts with evm on avalanche and rust on a different network how does that work you know where do those two languages combine how do you do that in a decentralized way a lot of exciting things thats still to be developed interesting stuff i want to pivot a little bit i want to make sure we get a chance to get to know you and your team can you um you know give me a brief or maybe not brief do do what you need to do whats your crypto origin story um how did you get your crypto superpowers and get into this industry and if you can touch on you dont have to tell me about every individual but like is your teams background similar like where where do you where do you all come from yeah so i i i was a partner with a hedge fund investment firm um for years um in tradfoy and i remember hearing about bitcoin in the very very early days and i remember thinking this is a complete scam like it was one of those things thats how it was being portrayed to us in the investment world is that you know this was a scam dont let any of your clients even consider buying it and so on and so forth and but i remember thinking you know and reading the initial um the initial white paper thinking this is kind of cool like you know if this if they can actually pull this off if this actually grows to scale it might be kind of neat um long story short i kind of forgot about it at that time it was like a buzz and then it it kind of went away in in canada anyways um for a couple of years and the longer i spent in traditional finance the more i realized that it was um you know youre actually in many cases it felt like youre acting against the interest of your clients and it became a sales environment where it wasnt about the underlying profitability as near as much as it was about bringing on new clients and making profit for the intermediaries and so um as time went on i realized you know crypto was evolving a little bit and and how do i get involved in in this space coming from tradfi uh obviously there wasnt a direct jump in 2015 16. um so i started working on on brand and and brandon messaging and and um marketing for crypto firms and i partnered up with a group in new york and they were doing uh regulated fundraising for uh crypto projects in 1617 which obviously was kind of fun at the time everybody was raising money and away we went um and we were doing a lot of brand and messaging and and we were working um with another firm that did uh acceleration into the us government and um we helped accelerate blockchain projects into the us government and i went holy crap like we had a bit of an inside line into how developed some of this blockchain tech was even beyond cryptocurrencies and i said this is i mean the future is closer than you know were closer to this reality than than i originally thought and i mean you hear all the the hype of like lets trade tokens and 20 year olds are making millions of dollars and but for me it was really about a new financial paradigm like theres actually a world in which um theres a lot more liberation of financial control financial transparency um you know you can actually if you manage financial projects in this way in a decentralized way you can actually make money not necessarily promising exorbitant money exorbitant like i know we all chase the 100x 1000x but when youre looking at larger portfolio management for people that might not be actively involved in flipping apes um you know theres theres a lot more consistent predictable transparent ways to make to make actual returns on on investments and so we just thought that was super interesting um that the space wasnt really ready for it um at scale yet but there was a lot of development that was happening so when uh that idea of um like on-chain analytics and you know chain like oracles transparent oracle you know where do you get your data all that transparency from a portfolio management standpoint is really fascinating so if you can look at on-chain data and clearly see like these wallets are inactive these wallets are active heres where the volumes going these are you know peer-to-peer transfers these are payment levels you know if theyre small or whatever um so you kind of tell that stuff is really fascinating thats like the deep analytics theres a bunch of places dune and nansen a bunch of places that do that sort of thing is is that sort of thing youre getting at like well the opportunity is there to do a lot more in terms of transparency and uh and accessibility too right if its all on chain anybody can do that its not just proprietary data all from nasdaq or whatever yeah and i think its also its also just about kind of where the ethical boundaries now um exist in a way that they didnt before so i remember being in tradify and one of the biggest lobbies we had at that time was how little information we had to provide to the investors like how at the time you could hide a lot of the fees inside of the rates of return and all of these other things and the fees were exorbitant and um and that was a huge lobby like a you know organizations were spending millions tens of millions of dollars lobbying against um clarity to the client on on how their assets are being managed and what the fees are and blockchain just removes a lot of that and were big on data were big on on-chain analytics we have other products um that you know that are all about data that provide blockchain data and different things well we wont get into that today but um its just its a its a completely new paradigm for how products are built how products are built with absolute focus on sustainability defy is is has to be sustainable its its code the truth is in the code not in manipulation and bailouts later on um you know by by financial institutions and governments and its just so pure that um you know it just brings a new level of opportunity for financial management for for individuals for enterprise um its exciting i think within the next you know five to ten years were going to see some incredible shifts in our global paradigm its amazing i think we already have and were with the frog in the water sometimes its been like this is gonna be great and i dont know if its boiling a frog its the right analogy but that analogy of like weve become accustomed to this is what define already can do and so we we can see from right now well like look five years out whoa but really where we are is actually also pretty significant uh i saw a pepe meme today of pepe in the in the boiling water so yeah pretty relevant um what keeps you motivated to build like what you youve got instead of you know almost 2 billion in tvl its tomorrow just for whatever reason people decide its a its a million dollars it goes way down what keeps you motivated to keep building in the space regardless of tvl um how do you position yourself and whats the sort of things you think about and keep in mind when you get up in the morning like yeah why do you go build thats a great question i think you know the primary motivation for a lot of people in this space especially when you talk to project teams and developers um actually is is not usually focused on the vanity metrics of tvl and you know platform size although those are all important and they become you know the things we have to look at um you know we have a responsibility to our communities and our investors to do so um but i think the real the real excitement comes from um being a transformative piece of of a new a new society a new way that people manage their finances and i think right now um in our opinion and this is you know part of our ethos at banky and and even our other uh our other platforms but its really defy is amazing right theres theres some amazing stuff thats happening theres some amazing adoption um but arguably were still kind of at the beginning of that early adopters curve in a lot of ways because you have to try you have to try to understand how to function in this world its not simple the user experience is very challenging even just getting into d5 is confusing and we were talking about this yesterday i mean you and i that have been around for a while things happened slowly were the boiled frog right metamask came out and you know idex turned into uniswap and then bsc came out and we figured out how to bridge which was confusing and you know custom networks in metamask and different wallets and all this other crazy stuff but it happened slowly it happened one thing at a time but a new entrant into the space right now comes in and figures out first step on-ramp okay gotta get money into the space then what where do i send it how do i know how to send it oh metamask wallet then what if i want to put money into benki how do i get there bridge what the heck is that oh my ethereum what happened yeah you know and then you have to swap on it amm and get into the rap tokens and its very confusing and so i think for us its all about how can we work with other platforms work with our platform within the you know our realm of control and make that experience for new users both retail and institutional we have a big focus on on institutional and enterprise users for benky how do we make that transition uh more palatable because right now its its very disjointed um you know you wouldnt even know about a lot of platforms unless you stumbled upon them and then when you do the uis are all different theyre confusing potentially if you dont know what youre looking at um thats what thats what motivates us is how can we build this um into something that just becomes commonplace you know its a simple symbiosis of traditional finance traditional banking for certain purposes that will exist in my opinion for the next few decades for sure um but a symbiotic relationship between that and defy and now you have a choice the choice isnt do i want to spend all day figuring this out the choice is which one serves the purpose and and you can move to and from different strategies and different approaches um and were really long really long away from that you said uh you think that a lot of founders have this not just your team and i couldnt agree more just from working at chain link labs and the way that the teams here approach building chain link you know theres integrations you guys can track the chain link twitter account theres integrations every day multiple its not about the integrations its about securing decentralized systems so its about providing secure data and those integrations are proof of that you know the amount of value security is proof of that but thats not the end goal right the end goal is like makes there needs to be secure infrastructure that people can rely on so projects like banky can can come out and and and secure 2 billion in value or whatever it happens to be so most founders will give you if you ask them will give you their actual vision and all of these things that happen you know tvl token price investments all these other weird things that happen along the way are just ideally objective proof that youre moving further towards that vision you know if your vision is uh a global decentralized you know infrastructure where people can participate as much as they want well theres some steps along the way you have to get to certain critical mass you have to get to you know a certain ease of of onboarding and those are just those are just the stepping stones along the way that you know to validate that youre on your way to your vision and i think uh some more questions for you yeah uh what music do you listen to when youre like in the zone youre zoning out you dont have meetings youre not writing youre like just do you know doing your tasks finishing up basic stuff and you put on some good headphones you got some decent ones and what do you listen to thats a good question i have two genres of music uh that i listen to if if im in a you know where im thinking where im working on new ideas figuring out how were going to approach certain strategical um you know strategic efforts um i listen to barack music baroque music its a its a form of classical music um it helps with memory helps with uh recall it you know it just puts me in a good zone um thats probably about thirty percent of the time uh the other seventy percent music puzzle solving yeah its theres actually been a lot of studies that it it it does help trigger certain areas of your brain related to memory uh both retention and recall um so its its interesting ive done that since university and then im a huge edm fan um im just a big kid um when i go to the gym uh and you know when im when im out getting amped up about something edm its all the way theres a big edm contingency in crypto im im well aware of them im yeah im fine with it its not my main gym but im fine with it yeah we got people in the chat who like this as well they like theyre broke they like yeah they like all of it um whats coming up on the roadmap so theres actually quite a few questions in here about you know winter youd have more assets collateralized you know when staking everybody always wants to know you can pick and choose what you want to talk about on the roadmap but give us a sense of you know what are the things coming down the pipe um that youre the most excited about in the short medium term uh we have a lot of stuff coming down the pipe um some of it we cant quite uh you know publicly announce yet but uh benky is not just a lending protocol benky is a d5 platform um that builds d5 primitives so the lending protocol is the first iteration the first d5 primitive um were well down the road uh of developing some other d5 primitives uh which we will uh will announce uh relatively soon were not going to keep people in the dark too long of course but its very exciting were just firming up some some fairly important partnerships and different things so uh d5 primitives with the goal of building a regulated and a completely compliant subnet and bring bringing a full d5 platform uh onto a subnet in a way that almost is like regulation as a service im kind of kind of tongue-in-cheek that a little bit but our goal and and were well down the road with institutional relationships and you know meeting and doing focus groups with key stakeholders in in different jurisdictions in terms of uh regulators in terms of traditional finance institutions in building the piping in building the infrastructure in building the regulatory uh structures to have a subnet that is easy and um manageable for trad fi to tap into so on the evm on the c chain d5 on avalanche uh well well be releasing a few more d5 primitives in the relative short term um which all have a very close relationship to lending were not just launching random stuff um theyll all tie in very nicely together and uh so were really excited about that um sooner rather than later which is kind of cool um i mean were not talking years from now um were talking in you know the next couple quarters well see some pretty interesting stuff um we have some others one sec for for the people who are not as familiar with avalanche subnets are like so so avalanche is a consensus protocol its like how ever all the nodes come to consensus and agree that yes this is the state of transactions and and balances on the chain subnets basically you can build separate block chains on top of that consensus and theyre kind of interconnected um in some ways theyre a lot they share security um uh so so the c chain where d phi is on avalanche right now thats one subnet but its got its own you know the governance subnet for for staking the b chain its got the x chain where thats like a utxo like bitcoin you can just transfer assets but subnets are coming as if something has been on the roadmap for avalanche for a while and projects or companies or whatever it is can build their own separate subnets so that thats really interesting uh putting that into context um very interesting to me whats really you know its really compelling i think and were not the only group thats looking at you know regulation and trying to figure out how how to combine and i dont believe that you know regulators are just going to look the other way obviously thats thats clear with even the coinbase stuff thats coming out recently um so its our responsibility as as platforms as leaders in the space to be a part of the conversation to get a seat at the table to work with traditional finance institutions and figure out how to build these products in a way how to regulate these products in a way thats not detrimental to the space but is also you know as aligned with um the regulatory uh motivations that that need to exist in different jurisdictions so thats a big kind of piece there focus of ours put our head in the in the mouth of the line and say hey uh you know we want to be a party to this conversation so that were not just reacting to what happens and if we do that properly um our subnet will be you know definitely will be a leader in terms of uh integration with with traditional finance were working a lot right now on custody on institutional custody providers we have some um stealthy participating in our in our protocol already which is very exciting um and we have a few more large ones coming out that we can announce and so yeah a lot of a lot of really exciting things a lot of really exciting things uh thats all very exciting well stay uh track i got a whole bunch of great questions like at the end but no no im running out of time i gotta go so um were gonna wrap this up so scott i see your question really good question come back to another chain link live ive got more next week um and head to the benky chats theres telegram theres discord theres all sorts of stuff down below you can see that in the description uh jd where does your community mostly hang out uh most of the time we hang out on telegram um you can go to our telegram channel i think thats gonna be in the yeah itll be in the description in the description as well um we are opening an official discord relatively soon uh its not open yet um but it will be pretty soon so twitter were on twitter quite a bit um but telegram is the the place you can see us were all the founding team is also in there we have some amazing um community managers but yeah is a good place jd thanks for coming on and talking to me i really appreciate getting to know you and get to know benky a lot better um lets do this again lets catch up in a couple of months and see where everybodys at sound good wed love to man thanks a ton i appreciate your time ill talk to you later man hey everybody thank you for coming thank you for the great questions im sorry we couldnt get to all your questions we have limited time but use those questions as a way to facilitate conversation in the banki telegram and community and other places as well um please go feel free to join them follow them on twitter and join the channel communities chain link telegram chain link discord follow chain link twitter and theres also the smart contract smart underscore contract twitter where you can get updates about when these chain link live events are happening we do three or four of these a week we talk to all sorts of awesome interesting projects we talk to nft and gaming projects we talk to great d5 projects blockchains all sorts of stuff my names andy boyan thank you so much for coming to chain link labs thank you tatiana for hanging out and being a moderator for me and for the great questions again to the community to jd and banky dont forget to you know i gotta say im sorry i gotta say it smash smash that subscribe button help me out smash and like and share and i will talk to you guys next week bye BENQI is a peer-to-peer P2P lending protocol that has emerged as a leader in the Avalanche AVAX DeFi ecosystem. On Today’s Chainlink Live we’ll discuss the BENQI origin story, building DeFi on Avalanche, and what it’s like to watch something you built go from zero to $2 Billion in TVL in a couple of weeks.BENQI uses Chainlink price oracles to help ensure prices for lending and borrowing markets are secure and use tamper-proof data. Featuring: JD Gagnon, CEO at BENQI BENQI: BENQI Twitter: BENQI Telegram: BENQI Blog: chainlink benqi avax Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Learn more about Chainlink: Website: Docs: Twitter: Discord: Newsletter: Telegram: Talk to an expert: chainlink,avax,benqi,