Ashish Sood (Head of Product @ Polytrade) (Host) 05:31 - 06:05 GM, GM, everybody, can you please give me a thumbs up if you can hear me? Perfect. Hey guys, how are you? Thank you for joining. I think we can wait a couple of minutes to let everybody else join if there is anybody. Perfect. So we wait.

How's it going, Ash? How's the day been? I think it's very nice based out of.

Sander (Toucan) 06:10 - 06:22 Everyone. I am Sander. I'm based in New Mexico, and I'm joining on behalf of Toucan. So doing really well out here in US mountain time. Yeah, right.

Ashish Sood 06:22 - 06:23 Exactly.

Kieran (Teller.org) 06:23 - 06:32 My name's Kieran. I'm with Teller.org. I'm actually calling from Arizona, so here's your neighbor. And yeah, same thing.

Jason (Chief Of Staff @ Mountain Protocol) 06:36 - 06:46 Yeah, and this is Jason, chief of staff at Mountain Protocol. I'm all the way down to the south, joining from outside of Argentina. So pretty glad to be here.

Ashish Sood 06:47 - 07:39 You guys are in way better time zones. I'm in GST and it's 11 PM last call. Perfect. I think we can kick off. First of all, thank you so much guys. Thank you for joining. I think it's a very special space. We did have one Base space a little while back, got some great insights, heard some great stories about what's happening on Base.

And I think that's what the main agenda is here. I think before we dive into any questions, I would like to give you all a minute on stage. Please introduce yourselves, talk a little about your protocol and maybe one line on what's best about Base. Anybody can pick up. If not, maybe Sander from Toucan can start.

Sander (Toucan) 07:41 - 08:60 Yeah, sure. I can kick it off. So my name is Sander. I am head of product at Toucan. And again, we build infrastructure to scale climate action. So we're tokenizing real-world carbon removals, carbon removal credits, bringing those on chain and then enabling liquidity for those carbon removals. We launched back in 2021. We were really an early mover in the RWA space.

We tokenized about $100 million of carbon credits back in '21. Since that original launch, over $4 billion in transactional volume of Toucan tokenized carbon credits has occurred on chain. And so, you know, we're really excited about expanding to Base because there's a lot of consumer and retail participation on Base. And you know, we're really excited about what creators and builders can do by building products on chain that have real-world impact, that actually contribute to real-world climate action. And I will pass it on to whoever would like to take it. I'm sorry, Teller, your name from Arizona, Kieran.

Kieran (Teller.org) 09:00 - 11:00 Familiar. Wonderful. Yeah, that was a great synopsis too. I think that's a really good example of getting real-world assets on chain and letting you do stuff with them. Yeah, so Teller's a lending protocol built on Ethereum. So it allows anyone to borrow or lend using any Ethereum asset. So you can do long-tail tokens like meme coins where you wouldn't normally have any liquidity. You can do majors and then any tokenized assets, you can do NFTs.

And then we've been just, you know, leaning in heavily to RWAs, similar to Toucan did some early stuff. We did the first USDC home sales on Teller. And I know it's a little early to it, but we continue to kind of support that ecosystem. And basically, anything that you can tokenize, you can then borrow or lend. So even, you know, like carbon credits or whatever, as long as it's on Ethereum, you can then, you know, access liquidity. The main difference to note between Teller and other DeFi protocols is that there's no margin calls and there's no Oracle. So it's all time-based. So it's very similar to like a cash advance or like how a mortgage would work or a normal loan.

You put up your token or your real-world asset token as collateral and then you agree with the other, you know, with the lender, the borrower and the lender agree on terms, what the APY is and the duration. And as long as you repay your loan on time, then you get your collateral back. And that's the gist of it. And there's no liquidations based on market price. So the way that we kind of, you know, really like Base and the way that we've been leaning into that is, is it is very consumer-based and most consumers aren't gonna do normal DeFi lending. They're not gonna get wrecked on, you know, scam wicks and liquidations and watching the market. So this is a much more consumer-friendly way to do it. And it allows each project to also kind of showcase their token.

So like we have a partnership with Polytrade and their TRADE token, they've done, they've already had like over $600,000 in volume of just TRADE alone. So people are already realizing that you can take these tokens of these real-world assets and then use them as collateral to get liquidity. Cool, I'll stop there.

Ashish Sood 11:02 - 11:11 Yeah, thank you. Thank you. And just a fun fact, you know, the first time I ever got, I would not say liquidated, my first default wasn't. I'm so sorry. I hope you're not sure.

Kieran (Teller.org) 11:11 - 11:23 It happens. It's part of it, though. It was kind of cool. It's like options. So, you know, I, it's up to you what your trade is. If it's better to default than default, then the lender, you know, gets the collateral or whatnot. So it goes both ways.

Ashish Sood 11:23 - 11:27 I would truly call it a willful default. I would not call it...

Kieran (Teller.org) 11:28 - 11:29 It happens.

Ashish Sood 11:30 - 11:37 Oracle-less lending is the best. Okay, perfect. Thank you so much. This you already cover.

Jason (Chief Of Staff @ Mountain Protocol) 11:38 - 13:32 Yeah, perfect. So Mountain Protocol is essentially the issuer of USDM, which is a permissionless, regulated, and yield-bearing stablecoin. We were born in a world with zero interest rates. But nowadays, the yield rate is about 5%. And the major issuers of stablecoins are keeping all that yield for themselves. So our project was born with the vision of passing on most of that yield to the user. So we built a product which is pretty safe. As I mentioned, we are regulated under Bermuda, which is a pretty reputable jurisdiction. You have Coinbase International and other major players licensed there.