Welcome to gossip about gossip powered by Hedera hashgraph, and each episode will cut through the hype of blockchain promises and explore real world examples of organizations creating the next generation of decentralized applications, which will bring trust back to the internet for all. All right. Got him thank you for joining us today. I am here today with Gotham Mehta, who is the head of strategy and expansion at State or labs. Got him welcome and I would love for you to tell our audience a little bit about what state or labs does and your role there. Stator essentially is a multi-product multichain staking platform, and it's just formed on the core belief that token holders who stake come in all shapes and sizes. So you have your average retail customers to your institutional clients, and hence you need like a segmented approach and a multi product approach to get all the needs of the customers attended to. Such data started off on the data ecosystem. So we had our proof of market that we started off with our first product at the end of November, and we've launched four four products till now on the terra ecosystem, totaling to about $750 million aud in total value locked across those four products. And very recently, we've come on to the Hedera network as well and launched our first product, which is a liquid staking product called aspire x. Yeah so that's pretty much about stellar me. I sort of look after the expansion part of the data, along with a couple of my colleagues. So I look after the expansion in hodeida and solana, and essentially my role is to bring the products that we have built onto other networks and to expand the network. And so haidari is one of the early public deltas that you are offering staking for. What made you decide to offer HBO staking? Sure, hydra is actually the second straight offer that we've got polygon going live today, so we're expanding quickly, but there was a second one. So the network has always been kind of interesting, very interesting to us. It's pretty unique, both in terms of the Hashgraph approach to DLT, also in terms of the gossip about gossip algorithm. So we were always intrigued by the network in terms of the approach to sort of market adoption. The network is also being very unique, so most, most networks have gone for finance related applications. Whereas, you know, hedera, whether it's sort of council members, always went for real world applications first and then now, when the opportunity came working with the Bar Foundation to actually start building the DeFi network on the data, it was an opportunity that we thought we couldn't miss and we jumped on it. We're pretty happy that we made that step. Great, great, and tell us how it's going, what has been the response from the market? Sure so the response has been great. You know, I mean, again, big shout out to the community who have been interacting with us on Twitter, on telegram, on discord, who helped us test everything out. So we launched, we launched on Friday. It was a gap launch, you know, and on Tuesday we lifted the caps and in about four or five days, we have 160 million bar already staked on the platform. We made a couple of bold steps in terms of design that were sort of appreciated by the community. One being that we went with liquid staking token instead of playing staking tokens. Now that means that when you stake, you get a token back, which you can use as collateral on upcoming lending platforms, or which you can use to provide liquidity on upcoming DEXs on Hedera. And the reason why we went with that was obviously because like looking at the bigger picture, the idea is to kick start the DeFi ecosystem on here, and it was important to maintain that liquidity in the hands of users. So that, you know, upcoming protocols can also utilize that and build on top of it. So can you walk us through the process of how you stake bar? Yeah so the process is pretty simple, right? So you can log in to federal or state and you'll see a sort of dapp opening up. You can click on the top right and connect your wallet. Currently, we support only the hashtag wallet, but played support is coming soon and we're talking to a few other wallet providers to have them also supported on the dapp, right? Once you connect your wallet, you'll be able to see your search bar. You'll also be able to see the exchange rate and the TVL that is there currently. You just need to enter your bar and click on State. The transaction will have to be signed on your wallet, so you'll have to go to your wallet and confirm the transaction. And once it goes to, you can see your HBAR x instantly in your wallet. So it's that simple. And you know, there's a lot of discussion about the security of various platforms in the space. Can you share what security controls does stater labs have in place? State labs is a platform that's kind of multichain, right? So all of the security features that we built into our platform on terra are kind of ported over to every other platform that we do. So our stated app, the frontend is pretty much battle tested. Like I mentioned, you know, about $750 million in value sort of locked through the platform. And we've also got undergone audits for all the smart contracts beforehand. About six across the three products that we had launched before we started developing an idea. Now specifically to our product on hedera, we've undergone a comprehensive smart contract audit by Albert. The report is available publicly. Anybody can log in to our use and see it. We've also posted it on Twitter, so it's pretty open and straightforward and people can see it. We also see security as an ongoing issue, right? So we are fully committed to using the best libraries. For example, each product is in its token, so it has all those security features already built it. And we'll continue to kind of do that to kind of upgrade our systems as more and more features and security features get logged into the network itself. And our plan is to have a separate audit firm look at our V2 product so that, you know, we have more eyes on the code and we can do the best possible in order to provide the most secure network. All right, thank you for walking us through that. And for the community. Is there additional functionality you will be rolling out going forward? What should they be looking forward to? Yeah so I mentioned at the start that we made a couple of choices. One of those was just offering staking first and delaying on steak options and withdrawal options to the V2 version that was just done so that people who are long term holders can get rewards as quickly as possible. So the community is already kind of looking forward to V2 coming out sometime around July. So that will happen. The other aspect of what we are trying to do right now is also making sure that everybody is usable across newer protocols that are coming up, right? That's the whole idea of liquid staking that you don't lock yourself in. You get the yield, but you also participate in the ecosystem growing up. So we're talking to upcoming DEXs like Sushiswap. We're talking to the likes of dashboard. And really, the focus is on first, of course, getting V2 to market, but also making sure that we give as much utility to the forex holders as possible to participate and grow the DeFi ecosystem on the network. Gotcha thank you so much for being with us today. We really appreciate it. We appreciate you sharing more with the community about what stator labs is doing, how the progress has been with our staking and what you have for the future. So we hope that you will join us again. And keep us updated on everything that you're doing. Absolutely Thanks so much for having us. And Thanks so much to the community for tuning in and also supporting us in our efforts to build DeFi on Ed. Great, thank you. Thank you.
