Participants: Wolf Web3 and Orange Crypto Recording
Link: https://twitter.com/i/spaces/1kvKpvlYMeOJE?s=20
Topic: BTC Takeover: Red, Blue or the Orange Pill
Date: 01/24/2024
Length: 1:04:08
Summary: In a vibrant AMA with Wolf Web3, Orange Crypto, shed light on their vision and upcoming offerings. Damon, with a corporate background from Microsoft, emphasized Orange’s focus on Bitcoin and the development of infrastructure solutions like the Orange Wallet and DEX to support Bitcoin-centric protocols and standards. Kevin, sharing his journey from consulting to crypto, highlighted the importance of data and growth marketing in their strategy. Orange’s unique approach includes integrating AI to enhance user experience, enabling actions through simple voice commands, and fostering a comprehensive ecosystem beyond just a wallet. They are set to launch the ORNJ token, aiming to stay native to Bitcoin while exploring collaborations and partnerships to expand their reach and functionality within the Bitcoin ecosystem. The AMA underlined Orange Crypto’s commitment to innovation, collaboration, and community engagement in the rapidly evolving Bitcoin DeFi landscape.
Transcript
Wolf Web3
Hi Orange, welcome. Is that what we should call you?
Damon Nam
Yes. Thanks again for having us. Yeah, quite simply, just Orange.
Wolf Web3
Let’s go. I love it. Quite simply, just Orange. You should know that I have been pretty much brainwashing every community member that I come in contact with to get involved in the Bitcoin ecosystem, the stacks ecosystem and everything that is attached to it. I’m a little biased. I’m a big, big, big fan of what you guys are doing. But maybe let’s kind of start from the beginning. Why don’t you tell us a little bit about you Orange crypto, who you guys are, what you do, and then we’ll kind of jump off from there. Sound good?
Damon Nam
Sounds great. Yeah. And thank you so much for evangelizing and pushing forward this space, right. Obviously Bitcoin is the gold standard when it comes to block chains. And you know, we’re certainly very excited because we think that especially over the next couple years, more consumers and more interest is going to come into this space. So appreciate your efforts in doing this as well. My name is Damon Nam. I’m one of the founders and the CEO of Orange. We actually have a number of our team members on the line as well. I’ll give them the chance to just briefly introduce themselves here. But as far as my background’s concerned, came from corporate. Worked at Microsoft for 17 years on the business side of the house, and then left in 2017 to go full time into blockchain. Recruited a really good friend of mine that also worked at Microsoft for 10 years, but he was technical, he was our CTO, and for the past seven we’ve just been building a lot of different solutions in this space, primarily on infrastructure. And we’ve even helped companies launch and have done consulting for companies such as Republic and even Finance. So extremely happy to be here because over the past year we’ve been very focused on the narrative of building on Bitcoin and and you know, happy to dive into that after the rest of the team does introduction.
Wolf Web3
Yeah. So where is the rest of the team? I don’t see anybody. Are they on with you right there on the same account?
Kevin Huynh
My name is Kevin. I am the COO of Orange, Just a bit of background of myself. I’m based in Texas here in the States and I started my career off in consulting doing a lot of data and marketing related work. Really love the data aspect of things. Went to go get my masters in in data analytics at Carnegie Mellon and at the same time was leading a lot of user acquisition at Expedia for a lot of our paid channels there. So have good background with growth, marketing, data, things of that nature and was literally spending hundreds of millions Expedia while I was growing some of our fastest growing partners there. But left all of that to join Damon in the blockchain space in 2017 and. You know won’t go over what he already mentioned but had had a great time and did a lot of great things and and the space there ever since then just been working with crypto a lot of startups leading growth leading operations and and rejoin. Damon here not too long ago to to help lead Orange and once again operations and everything else there. So looking forward to to helping grow and and lead the company find some product market fit and and just be evangelist for this, this space as well.
Wolf Web3
Love it And guys I don’t know where you are in the world or maybe it’s early in the morning but I’m going to need you to wake up because this is the way we get through to these crowds in these spaces we got like they feed off of us up here. So I’m excited to speak to you guys but I need everybody to be on the A game because I need people to hear this message legit. I’m being serious. I need people to hear this message. So I love that you guys are here. Let’s wake our asses.
Damon Nam
Love, love the energy, by the way as well.
Big
Yeah, so I’m biggish. That’s my Twitter handle. And I’ve kind of been in a crypto space for like, you know, three years or so. I consider myself a newbie, but it’s kind of fun, you know, navigating the crypto space, seeing a lot of new things, meeting a lot of new people. And Damon is actually one of the best person I’ve ever met. And I’m working with him as I’m working, actually as a community moderator for Orange Crypto. And it’s been fun. It’s really been fun all the way, you know, kind of glad I’m happy that this is my first project I’m working on. It’s very organic like most projects have been seen now just about, you know, getting a drops using a lot of means to get people in the group. But this, this is the most organic project I’ve ever seen and I’m actually happy to be. And The funny thing is I’m still early and we’re very, very early on the on the crypto space. I mean, we are working with the Bitcoin narrative and stuff like that. I’m kind of happy to be here. I’m happy to be with the team, to be in these projects. And I know this projects really, really gonna go like it’s really gonna go up the way to the moon, even to Mars. You know, we don’t know. We might actually end up, you know, a high end yellow mug space station just to fly up all the way to Mars. Yeah.
Wolf Web3
Good stuff, Big. Appreciate you.
Damon Nam
So, yeah, let’s talk a little bit about the Orange here and how we got started where we’re at. So we, as I mentioned, we’ve been builders in this space and primarily infrastructure side. And you know about a year ago after we started seeing a lot of momentum, particularly with obviously the institutional adoption that’s occurring and even a lot of these ETFs being submitted and applied over the past few years. All of the activity that we’re seeing now that people are really getting excited about, especially DFIL and Bitcoin, we kind of forecasted was that was going to eventually come because as everyone is aware here a few summers ago, Defi Summer and Defi being built on Ethereum and some of the alt chains really exploded. And we saw that as an opportunity that when Bitcoin tooling and the technology matures, especially with L2s, that all of that energy and those solutions that have been built on these alternate chains would eventually come to Bitcoin. So from there we decided to start working on some infrastructure, particularly for Bitcoin itself. We started off and developing our own wallet supports obviously not only Bitcoin but other standards and protocols, just BRC20s ordinals stacks and the list will continue, right? Because even over the past few months we’ve seen a lot of new standards come about including ARC20s, SRC20s, the list goes on and surprisingly the market, you know, there’s not a lot of household names when it comes to infrastructure and and things in this space. And so we want to be one of those early providers and players that help support a lot of this experimentation, a lot of these standards that are coming about. Because even as we see new standards and chains in these L2s being propped up, you know there’s still not a lot of solutions to be able to host a lot of these new tokens that are being developed. So we kicked off, started developing our wallet which is ready to be released next month. We also have a DEX and a data aggregated that’s going to be released here in Q1 as well. We’ve been fortunate enough to be able to have some great venture Capital Partners behind us and we’re actually releasing our BRC20 token here next week working with a number of different launch pads, centralized exchanges etcetera. So super excited to really kind of get out of stealth and building and introducing ourselves to the market. We’ve already started working with a number of startups and Dapps to be able to integrate our wallet into their solutions as well. And so really excited about this journey because we’re on the cusp of a new bull run in a very emerging market on best blockchain in the world and super bullish and optimistic.
Wolf Web3
Love that. OK, so now tell me about the wallet now. So first, am I using it? Is it mobile? Do I have the app for iPhone and Android as well as on desktop, laptop?
Damon Nam
Yeah, great question. So it’s it’s a browser extension for Chrome and in the way that this will kind of feed into the way that we like to develop in our development process. So we like to build fast, break things fast, fix and then iterate, right, kind of their standard VC startup type of model. And so we don’t expand too quickly. And so right now we’re just focused on the browser extension for Chrome. As we gain more traction and adoption, we get feedback from users and you know we get to the point to where we’re ready to expand. Then from there we’ll expand off to Safari and Firefox. And then eventually down the line, you know, once things mature there, we’ll have some mobile solutions on iOS and Android. One of the things that we found in the past, especially even in working with different companies, is when you try to broaden that scope too quick, then your operational and development cost is kind of, you know, 10X as well to be able to support all those platforms. So even if you have one bug fix, you know, if you’re supporting 5 different platforms right off the black bat, then you know that’s five different changes, updates and so on. So we’re just focused as a browser extension on Chrome initially and then we’ll expand out over time.
Wolf Web3
I’m always curious, do you like because like I guess from what I see from at least the Web3 users or like anybody that’s using anything in the Defi world, like most people are on mobile. So not that you don’t need to go and like in depth into it, but I’m just curious like do you guys do an analysis of when you choose or you decide like, hey, we’re going to go mobile versus desktop like or like Chrome extension?
Damon Nam
Yeah., and that’s actually what led us to start off on the browser. So statistically, I don’t have the exact numbers, but when we went through it, even if you look at Metamask numbers, the majority of their utilization and usage goes comes from the browser. And I think a part of that is because of usability like when you think about importing a private key into your mobile device, that’s a heavier lift for the average consumer. So yeah, the majority of usage actually comes through a browser and that’s why we were focused on that first.
Wolf Web3
Got it. OK. And I just have a couple more questions. And then obviously like I want to get to obviously like the panelist speakers here. We got some some really, really, really great speakers and I want to be able to get to your team also. I just kind of like I like setting the stage initially. So from what I heard upon your intro, it’s your essentially Orange is not, it’s not just a wallet, right, like you’re a facilitator. So when I’m looking at your website, I see there’s you have you have the Alex logo down there, right. So are you guys going to be competing or are you guys going to be like with with any of these companies or is this hey you sign on to Orange and we’re going to now you’re now going to have immediate access to like all in one place essentially all in one wallet to Alex Arca deco gamma ordinals market and so on.
Damon Nam
Yeah, great question. And so we’re highly collaborative and we want to be able to enable and expand the space. So Alex Labs is even one of our partners as a Launchpad and and they’re helping bring us to market. But for us, we obviously have our own solutions and products and services that we want to bring to market. But we’re highly collaborative to the extent to where we want to be able to support all these other builders that are doing great things in the space as well. So we’re integrating other reputable companies that have great services that we think could help not only our users but the industry in general. And so yeah, we what we envision with our wallet is not only just a culmination of services that we offer, but also you know from other reputable partners as well if it adds value. So, that’s why you see some of those names that were you know, helping support as well.
Wolf Web3
We got to get the Bitflow finance name on there. Once we get the Bitflow Finance, let’s go.
Damon Nam
I think we might be connected with them already, but if not, yeah, we’re always happy to to work together in some capacity.
Wolf Web3
Hey, if you need a connection, I got you like I got. I’ve been bugging those guys long enough because we’re all doing something, trying to gain some Stacks points over there, so I’m happy to make an introduction. So why the name? Out of curiosity, why the name Orange than the obvious?
Damon Nam
So you know we our branding is around the concept of being Orange pill, right? So similar off of the playoff matrix, red pill, blue pill, Orange pill. And you know everyone in this space kind of knows especially if you’re a maxi that if you’re Orange pill you’re you’re a maximalist when it comes to Bitcoin. So that’s the reason why being that we are a Defi ecosystem for Bitcoin itself. We wanted that to represent the brand kind of the ethos, our beliefs, the values as far as you know what we want to represent to the market. And we also believe on simplicity and there’s, you know there, there’s not much more simplicity when it comes to just having that branding as as Orange itself. So that’s what we wanted to lead with.
Wolf Web3
Love it. Last question and then I’ll open it up to everybody. So I guess why, why should somebody use I guess the Orange wallet as their, as their as their Bitcoin wallet? And then the follow up there is, can you tell us a little bit about the AI components of exactly how you guys use it? What can we expect when we use it?
Damon Nam
Yeah. So as far as the the wallet is concerned, obviously there’s the just general features of any wallet that you would expect, right, in terms of custody to be able to, to, to store your assets, to be able to send and receive etcetera. It is non custodial, decentralized, we never touch funds. It’s basically just the connector to the blockchain that allows you to be able to access your assets as it’s stored directly on chain. We integrate normal open source standards including you know BIP 39, which allows you to be able to use your existing seed phrases that you might have generated from let’s say Unisat or Xverse. You can import that in our wallet and vice versa. If you create a wallet on ours, you can use that seed phrase and and others as well. So as far as our wallet is concerned, you know we have built some extra functionality that we think really sets us aside and gives us some unique USPS and in comparison the competition. One of those is the AI component component as well. And so when we think about crypto and you know all these companies including ourselves have been trying to solve this problem of making things much more usable, user friendly, being able to onboard the next generation of average consumers etcetera. So when we thought about that, we wanted to be able to have users. There’s two core tenants, One was be able to have users access information as quickly as they need it, and then the other was to be able to execute financial transactions as easy as possible. Right now the model across crypto and most apps is point and click, right? And then to be able to find information in the crypto industry as well as your transactions in your wallet is not easy. So the way that our assistant solves that is it’s not just a simple API called like open AI and and things like that. We feed it our own language models to where you know, you can actually get specific details around crypto, around finance. So imagine use cases such as asking you know give me the 24 hour trading volume on finance instead of having to you know go open up on some sites and all stuff like that. We want users to be able to have that information at their their fingertips. Or maybe even a use case such as you know let me know when I sent money to Kevin dot BTC and instead of having to scroll through your transactions and or going to a blockchain explorer you should be able to have that information at your fingertips right? So those are two, two examples of where it becomes very powerful and it saves users time and and efficiency and and money. Where it becomes really powerful is when you install our wallet and our assistant. Any input field or you can interact directly with the wallet becomes kind of a a text field where you can text commands as well as even use your voice. So instead of pointing and clicking in your wallet, we envision a future where one day people will just be speaking their transactions, right. So how powerful would it be to be able to say, you know, send $100 Bitcoin to Kevin dot BTC and you’re taking taken immediately to the confirmation screen. So, you know, these are some things that we believe kind of transformed the experience and, you know, really kind of cater to our vision of making things much more efficient and easier, especially when it comes to crypto.
Wolf Web3
Holy shit. I did not know that action. Go for it. I got questions on questions. That’s what’s going on here. So you’re essentially saying that your AI model allows you to do on chain analytics in a very easy and concise way. Is that what you’re telling us, Kevin?
Damon Nam
This is, this is Damon. But yeah, so effectively, yes, yeah, and to do a lot of that processing, we actually leverage natural language processing and component of AI to be able to execute a lot of things I just mentioned.
Wolf Web3
Yeah, talk about having having an edge over people. This is awesome. I’m actually installing it right now. Just check this thing out. Does it work with your beta right now?
Damon Nam
So all of the wallet functions and some of some extra value added features are included in the latest beta that’s on our site. It doesn’t include the the assistant portion yet. We want to do kind of a more once we release the wallet, we want to kind of do a huge marketing push around that including the assistant component. So that bill that you’re going to be installing now doesn’t have that assistant functionality in there yet.
Wolf Web3
Got it, got it. Is there an expectation of one that will be available for people to test out?
Damon Nam
Yeah, we should have. So we already have a working proof of concept around it. We’ll probably start opening that up to the community here month to start testing, giving us feedback and so on. And then we’ll release it at least an early version of it in Q1.
Wolf Web3
I love it. I know everybody’s got a bunch of things they’re going to ask. So Brad, go ahead. Yeah man, that sounds, that sounds awesome. I’m really looking forward to people actually advancing some bringing new new features into this tech. You know the the questions I have I guess are I have two questions. One is for the LLM, are you guys using and have you built out your own proprietary LLM or are you just running a GPTAPI? And the second question is, do you guys have an SDK available or do you plan to launch or announce like an SDK?
Damon Nam
Yeah. So we thought about that this the architecture around this. We never wanted a situation where when it comes to the Assistant where it throws back an error like we can’t help you. So it’s a combination. We feeded our own LLM model that we’re creating custom. We do have plans to be able to have some sort of program where we kind of AD input or or almost in a sense open source it to be able to have community members contribute to that, right? Because obviously data rules the world And then we do connect the areas where it’s maybe non crypto related. So let’s say you want to ask a question that’s non crypto related. We do then connect through API for it’s it’s through Google Bard to be able to facilitate other questions that may not be related to our LLM. And then from there, we are working with some partners that have some interesting tech around this as well that we’re or we may consider integration as well. As far as us, we’re not sure if it’ll be part of our revenue model and something that we charge businesses for. But yeah, we do plan on having an SDK around this so others can implement it.
Wolf Web3
Oh my God, let’s go. OK, so this is super exciting.
Damon Nam
Also highlight something real quick because I didn’t mention it. So we want to kind of be known as the Grammarly of crypto. You’re on a web page. It’ll highlight keywords that are related to, let’s say crypto or finance or whatever the case may be. And if you hover over it, a widget pops up and you can actually get, let’s say it’s Bitcoin on the page. You can hover over that highlight and then a widget pops up. It’ll show you, you know, statistics about Bitcoin as well as things such circulating, supply, price, all that stuff. And then you can even see a graph chart and you can interact with that widget directly, even buy from that widget. Just little hooks and things like this that really just try user acquisition as well.
Wolf Web3
I did want to ask so Kevin, maybe this one’s for you. That was incredible. So it’s more like, so it’s going to be kind of like a it’s almost like Perplexity has it right where it’s like you kind of get to hover over all these like different words and it and and it it instantly shoots like an API call and all of a sudden you get to, I mean that is that’s really, really cool. That is really, really dope stuff. Kevin, anything else around like the AI side that you guys maybe like have planned before I kind of move on to the to the token, maybe just a few more details.
Kevin Huynh
So just imagine an AI assistant that lives on top of your desktop, right and that’s kind of the vision that we’re working towards and building towards, right. So almost like Microsoft Clippy, but be able to help you actually do things and be functional like in today’s universe, right, with crypto and everything like that. So that’s kind of the vision that I want to move towards too. And as we get more inputs, as we get more learnings, things like that, that will continue to iterate and get better and things like that. And I know we’re very focused on the wallet as well, but we’re building much more than just the wallet as well. So it’s an entire suite of products, it’s an entire ecosystem to help support it. And yes, the wallet is the star and you know, very much backed by AI, but hopefully we can incorporate a lot of those other elements, particularly the AI within some or other products as well, right. So building a DEX, a data aggregator and some other things to help support us. On our journey, such as you know, a bridge and eventually a launchpad and and things of this nature, right. So very much involved in not just building a wallet that I, you know, that is very straightforward in itself, but it’s truly an ecosystem to help the support of Bitcoin development and building on Bitcoin and everything.
Wolf Web3
I appreciate it, Kev. OK, awesome. Last question around around AI. So now if if I wanted to, if I wanted to like to download or try out like the beta, obviously like that you. I know you mentioned just now that the AI is not going to be in there that’s going to be on the next iteration. But am I going to be able to use the AI when you first release it? I know you talked about that’s crazy. We talked about like speaking like actually into it. Is it literally going to be like the way we use it now where it’s like I press a mic and it’s ultimately going to prep the whole transaction? Or am I going to be able to use it with like let’s say if I wanted to access you know the Alex DEX or I wanted to go to Arca Deco for a loan or something like is that what we’re talking that the level that we’re talking?
Damon Nam
Yeah, it it is the that level. So initially it’ll be more simple and focused towards just our wallet itself, but the vision is work. So the way just at a high level, so people understand the way that we do it, we leverage natural language processing to be able to understand your intent. And so you know when you say you want to send or swap or whatever the case may be, we’re able to recognize that intent. And then from there we match that intent with maybe whatever provider that is is associated with that intent. So in that case. You know, like in the future if you say I want to be able to swap my assets on Alex, we’d be able to support that as well because we recognize the intent and then we recognize the provider. So that’s how it would work. Kind of further down the line, V1 will be focused just on our core products and so you know when you’re trying to send or do whatever, it’ll be specifically for focus on Orange products.
Wolf Web3
I do have one question, if I, if you don’t mind me asking, when you’re talking about user acquisition here and of course retention because obviously lifetime value will increase the ability to raise more money or whatever the case may be. In terms of like making more money per customer, Do you guys want to use your AI against the analytics that pour out from like maybe some of your ads you run or whatever you’re doing? Because you could actually in theory you could like dump out the analytics into like a spreadsheet if you had to, or into a database and then crawl that with AI and then have it make the like optimization decisions for you.
Damon Nam
And I appreciate you bringing that up because we like to geek out with builders and people that actually are trying to expand and and grow this space. So Kevin’s obviously the expert here. I’ll just throw in my thoughts. So it’s one of the reasons why we’re creating the ecosystem and some other supplemental products around this to be able to not only acquire more users into the ecosystem and draw them into the wallet, but eventually gather more data. And because from our perspective, we’re very data-driven, It’s one of the reasons why we decided to go down the path of a data aggregator and having kind of a CoinMarketCap version specifically of Bitcoin. It’s not a revenue model for us, but it’s kind of our dark horse because we leverage every component of that data in order to be able to feed the Assistant and use that for our own benefit. And so, yeah, when it comes to all the things that you mentioned, we’re able to do and extract and extrapolate a lot of that data for our own personal use in order to to really, you know, benefit our own products.
Wolf Web3
Is that, is that your strategy though, is it are you guys like run like display ads or like you know, video ads or influencer ads whatever the case may be ads. And then are you going to like tie that bit back into I’m assuming an effective CPA because let’s be honest like everything backs into an ECPA regardless of CPM and CPC. So how are you backing that into like your analytics of like driving, you know what I mean like driving good user acquisition numbers because at the end of the day you’re you’re going after people in this case that are early adopters, right. And then the rest of them are going to be like waves out from early adopters. You know what I mean? Like just if you look at a, you look at a targeting, you know, like a document where you have like concentric circles that go out. You know what I mean? Like the first one is like a influencer slash early early alpha influencer that like gets involved in a product early. And then there’s early adopters who are all like, hey, I’m, you know, I’m the first one who bought Crypto in 2010 or 2011. And then there’s like waves of that out there because they see people getting rich. So a whole bunch of like less qualified people come into the space. How do you commit on, and I’m not by the way, this isn’t like a gotcha moment. I’m just, I’m really asking how do you guys plan on doing like user acquisition in that case where you’re trying to reel in people that don’t, that aren’t like, you know, the the faithful, you know, they’re not like butt bowing down to like crypto gods and stuff like that every two seconds and being like curious how are you going to bring in the people that are like more retail?
Damon Nam
Yeah. So that is a part of our strategy. Especially when it comes to what we’re calling Orange Market Cap will obviously we one of our dual revenue models streams when it comes to that particular product is being able to have an API that we can sell to either businesses or consumers or or institutions to be able to access that data. Two is the display ad component where you know we incur revenue, but then also take that data as you’re mentioning be able to insert that into the the business for our own personal use, right. As it pertains to being able to kind of navigate and and make business decisions around that data. Kevin could probably speak better as far as you know how we are going to leverage that into our our business model.
Wolf Web3
It’s also, oh, by the way, you don’t have to tell me everything because I know like the space is very like, hey, show me what you’re doing or else I’m not that way. If you guys have a strategy that’s not my, it’s not my place to be. Like give me your exact strategy, you know what I mean? Like, sort of. Make sure you’re not thinking that I You owe me an exact strategy here.
Damon Nam
Yeah, no worries. It’s it’s great to even be able to have this dialogue right, because I think especially in this space it’s it’s highly speculative to the extent where people don’t even think about user acquisition, right. They think about being able to make sure that there’s liquidity for a token and then people could trade it and and and and that’s considered traction. Whereas as as you’re fully aware, especially building a business, it’s much more sophisticated than that.
Wolf Web3
Yeah, it really is. I think it’s interesting that people do start projects or start or start companies in general and they don’t have like their metrics of success down. You know what I mean? Like they don’t have, hey, we can spend as much as this or hey, we ran some tests and the tests say here’s the effective, you know, cost per acquisition we can pay for right now. And then if we can do whatever we need to do with these folks in the user experience, then we can actually afford to pay more? So yeah, it makes sense.
Damon Nam
Yeah, you know the problem. It’s too easy to jump in this industry not have product funds and maybe they’ll execute the road, maybe not. It’s not a so the the entry in this industry is so low and people are willing to throw their money at such low quality projects without vetting them that you know when we actually start thinking about building a business, a lot of folks never even have that intention. And so I I think that’s one of the the problems that this industry suffers from. But it’s always always refreshing to actually see companies that are building and thinking kind of in the same context that you’re bringing up and just following up.
Wolf Web3
Community side, I see that you guys do have rewards. Can you tell us a little bit about the rewards program?
Damon Nam
So I I don’t think we’ve officially launched any rewards programs. Yeah, not, not yet, but we do have thoughts about how we’re going to implement that in the future. And you know, being data-driven, it will be around things such as engagement and how you’re able to to help the community. Community is obviously a huge initiative for us, but very important for you know and the kind of the lifeblood of of any company in this space. And when we think about community, it’s not just about token holders as most companies do. We want to be able to support multiple categories as as it pertains to community, including, you know, VCs and in liquidity providers such as exchanges and launchpads, market makers and then you know even KOLS and it. When we think about community, what we want to be is kind of the the best connector or the best host of the party of this great party called Bitcoin. And so if we can even connect community members or new projects with folks inside of our network, if they’re launching a a product and want to get connected with the Launchpad or even centralized exchanges. You know that the for for US community success is is helping enable others be successful. And so it’s not just about having a bunch of token holders that kind of speculate on price. So we’re going to be building out programs like that and then obviously rewarding engagement other people that help us grow it.
Wolf Web3
Oh, that is so exciting. I’m just thinking about and Dave, I know you’re thinking the same thing, think of the cross collaboration, think of the communities that are going to be using this like it’s it’s going to make, it’s going to make some waves. That’s my thought. You know what I find interesting about all about this, this entire thing, like just the difference in the world between Web Two and Web Three, right? Like if we look at like the equity markets, it’s like people that buy stock, you’re buying ownership in a company, right. Those companies can give two shits literally about like the common stockholders. But yet here where we issue a token that doesn’t give you ownership in anything. Everybody is concerned about when token price go up. Damon, please don’t be one of those. Focus on building a dope ass project and like a dope ass product. Like to be able to like that we can use like day in and day out that is useful, that we can come back to. That is simple to understand. And I promise you the rest will take care of itself. I swear. I had a question, I believe it was when RAF was speaking about like the internal securities and I like I love the community as well and just just hearing you speak Wolf. So I kind of got lost in the sauce on my questions. So excuse me there. I don’t know if Rath is still in the audience, but as far as your token being launched on crypto, so for me, you know, everyone has a different journey. You know, set rolls, Bitcoin, Etherium crypto, You know, there’s a bunch of different meme coins, bunch of different things out there. But I’d like to hear more about the security behind what you’re launching. And just, you know, like you said, you know, I’ve been the ears since 2011. This is one account, you know, I just, I’m just here to support, learn and listen. So Wolf, if RAF is still in the audience, I don’t know where he went off to, but I’d love to hear more about the security side of it. Yeah. Yeah. So you know the the great thing about this space especially when it comes to BRC20s is it’s effectively just a a derivative of Bitcoin, right, Which in our opinion is the most secure blockchain in the world. And the only difference is with BRC20s, there’s it’s an inscription on top of the asset. And so when we look at from infrastructure perspective like there’s no contracts, there’s nothing else or sophisticated such as Ethereum, which we love Ethereum as well. But when someone launches a token on that particular chain or a different all chain, there’s more complexity in there, right? Because all smart contract code is custom. It could be hacked if the code’s not written appropriately etcetera. And so in our case, one of the reasons why we’re so bullish is any on on Bitcoin itself, the from from a security perspective, it’s much more secure than a lot of the other options that are out on the market with some of these other all chains. And so even for us like there, there’s no need for us to get an audit on our token as well as other players because what do you do? Do you just audit Bitcoin? So yeah, from a security perspective, you know, it’s it’s for us it’s, it’s as gold as you can get. And just a follow up question on that Orange or bean, sorry I’d followed you. As far as your community and like the partners that you’ve let in on that you’ve landed on this project. How, how large, how many partners do you have involved? I don’t know about you all, but I’ve been involved in different communities, situations where I bet my life on literally. And I just wanted to know like how many partners do you have involved in this particular launch?
Damon Nam
Yeah. So great question. And the way that we look at partners is by categories and the way that they assist us. So we have obviously venture capital partners that have been involved kind of in our seed round, I think last count we have, but it’s around like 20 something involved liquidity partners. When we think about centralized exchanges, market makers, launch pads, etcetera, we have currently I think 6 partners there. And then from a technology perspective, we’ve integrated some partners within our, our tech, our wallet and then we’re already working with I would say maybe about five partners already that are looking to integrate our wallet into their DAP. So for us, we, we know especially my background at Microsoft was was driving partnerships. So we, we know how vital it is in order to be able to scale and the fastest way to do that is through collaborations. And so that’s a core initiative for us and and we’ve been very heavy on that front. And from a technology perspective, you’ll start seeing a lot of announcements around some of the the players that we’ve either already integrated or are I’m going to be integrating with soon.
Wolf Web3
And not to get too vital into it, but the the people that you’ve partnered with have you, I’m, I’m sure y’all have done the legwork right and you fully dox them. You fully trust them and understand like where they’re coming from, their background and everything.
Damon Nam
Yeah. So we do have a vetting process that we go through as well. And all of the partners that we’ve worked with today have actually come through with by referral as well. So kind of an extra set of eyes, extra layer the folks, But yeah, as we do our own personal outreach and things like that, we certainly want to make sure that the folks we want we work with a reputable and also protect our own community. And so, yeah, we do go through a vetting process on that.
Wolf Web3
Yeah, and that’s what I think That’s what a large amount of people don’t understand when it comes to cybersecurity and things like that. You know, you know, you meet people in communities and like as long as you stand by each other and you know, years go by, people don’t understand that many accounts have different, different faces on them. But when you work with people who do different launches and launch different applications and you know, a lot of us are backed by different corporations and we have to, we have to do things under pseudo name so they don’t own it. And that’s to me, it’s what I hear is that’s what community is all about. I came in here because Lucas was in here. He probably don’t know me from the man. And you know I follow people for years and sometimes they don’t, they don’t know which accounts watching them. But you know we’ve all, we’ve all invested into things. And I what I think the huge take away is, is that, you know if you’re in this room and you’ve known them for more than a year or two years or three years or 410 years, you know it’s you can’t you real recognize real. And I recognize you all and I’m just here watching and that you are completely correct. There are a lot of corporations watching. It goes beyond corporations. It goes to governments and this is a, you know, a bull run is a wartime thing, right. So it’s I just like to support real and this is my real voice. I built a bot back on Twitch a lot before bots existed before, you know we’ve all done things. We’ve all launched applications. We lost money. And like you know from what I hear, the people that I know in this room, the people that don’t know me, that don’t know I even know them. I support a few in this room and I can recognize it. And thank you thank you beam. Thank you Orange. Thank thank you everyone. And just everyone just realized your wallets are tracked. Cookies are tracked, things are tracked. And these people are smart. So just know when to listen. And I just wanted to say thank you. I’m gonna watch out for you.
Damon Nam
Guys, yeah, thank you so much. Real Recognizes Real. I love that.
Wolf Web3
Oh, that was excellent. Like echo, you need to say that louder. For the people in the back. Everything is tracked. Don’t click links. Nothing is free. Blood Prints, folks. Like, let’s go, Let’s. I’m an elder one. I’m 35 years old. You know what I mean? America’s online, you know and like, but you know the friends that you meet in these spaces, you you never know. You never know. The corporation, they’re the government behind them. And then like, when it comes to, you know, just showing up in spaces, people might be listening for 15 years and you do not know, but you know you’ll recognize real. And I’ve had wallets washed up. I’ve had wallets get seized and nobody wants that. No, we’re all legal Eagles, right? And this is recorded space. There’s a red eye in the sky, folks, So you’ll recognize real. Hashtag it. Damon, let’s talk token. We got about 10 minutes left. Tell me everything I need to know about the token launch next week.
Damon Nam
Yeah. So our token is quite simply called Orange token symbol actually on BRC20s, it’s limited to just 4 characters. And so look for ORNJ. We’re launching with a couple of or three launch pads in particular, Alex Labs, which is the OG builder in the space BRC20.com, which are also the founders of the.COM BRC20 token and then LeverFI. And so they’re going to be launching us here on the 30th and then immediately following on the 31st. We have a couple of centralized exchanges that will be helping support the liquidity including Mexc and BitGet. We want to make sure that liquidity and availability of the token is very high so that it’s accessible, you know for any audience in the world, no matter where you’re located etcetera or whatever your exchange preferences are. So we’re already in talks with about four other exchanges to be able to get it listed very in the very near future as well. Starting market cap for Orange itself or the the the FDV is starting at 6,000,000 and then the starting market cap is approximately 1.5. We think in comparison to a lot of the the peers in the market, especially players in the BRC20 space, we think that. You know there’s quite a bit of room for upside, especially since we work at the the infrastructure level of of this space in this industry. But if you compare us to a lot of the BRC20 tokens out there, which have no product utility or even a business revenue model, we’re super optimistic and bullish because we think we have a lot of potential.
Wolf Web3
So different, so the three different launch, so three different launch pads is Alex, LeverFi sorry, what was the third one?
Damon Nam
BRC20.com.
Wolf Web3
BRC20.com OK Can we do anything beforehand to try and get in on this action? Are there any quests or anything that we can do on Zili or on Gox on Galaxy like anywhere?
Damon Nam
No, not at this time. So yeah, the only way to get in right now or the launch pads and then the the centralized exchanges which will be listed on the 31st.
Wolf Web3
What’s going on? Why the thumbs down?
Community Listener
Oh, I I just don’t see any value in anything that’s being done. I mean, you know, I I get what BRC20s are, but like, what’s the argument that you wouldn’t issue like coins and tokens on Taproot? Isn’t it quite a bit more efficient?
Wolf Web3
Well, that’s a whole other conversation, but go ahead, Damon, Go ahead if you want.
Community Listener
To say that I mean what’s what rebuttal there?
Damon Nam
No, that that that’s a great point, right. So we’re obviously very familiar with what Benny and team are doing over at TAP. We think they’re doing, doing some great things. Obviously there’s other great builders in this space as well even including stacks and their L2 and and what they’re doing with the upcoming Nakamoto release. We wanted to stay just native on Bitcoin and in the Bitcoin chain and so this was our path to be able to and not only just support the chain, but stay on it natively instead of having a separate potential L2. Or you know, but we we don’t have our own L2 chain itself already, so this was our path to be able to to support our own token.
Wolf Web3
Let me ask you a question like when you say taproot like can you maybe educate the audience a little bit as to like why taproot as opposed to like being native on like the as opposed going with the native BRC20, like what would be the difference?
Community Listener
Well from what I understand and I’m no I’m no expert here I’ve I’ve just I’ve just heard like how different chains different different software is working. So with BRC20 you’re every time you’re moving that token you’re you’re having to pay a Bitcoin transaction fee right. You’re paying an on chain fee, but with Taproot you can move that that token basically for free nearly like there’s there’s no friction there. So if you wanted to like it like if I wanted to tokenize like Microsoft stock, right? Like I I could essentially tokenize like the entire company of Microsoft and and create an exchange and basically like give ownership of those tokens to people and let them trade on that exchange. But they would have to be paying, they wouldn’t have to pay any transaction fees to and from the exchange, from their wallet to the exchange. And you know, if it was a fairly centralized exchange, there wouldn’t be very much friction there either. I think the biggest problem with BRC20 is, is that you’re going to run into in the future is like if fees happen to go through the roof, you’re saying your assets going to be worth more possibly, if it’s not, then you’re not going to be able to afford to move that BRC 20, so you’re going to be stuck with it. So people need to know that, if you don’t know that already.
Wolf Web3
So that’s how community plays in IT, I don’t mean to interrupt. That’s where community plays in at, and I’m an unbiased opinion, everything you’re saying, this isn’t an education on, you know, all the risks that can be taken. Anybody in this space know the risks that are taken and where the community plays in at is we’re going to support each other not just on this launch but on other launches. And you can’t buy that. There’s some things money can’t buy and that’s all I can say about that. Yeah. And it’s not to say that they won’t essentially grow to where like Damon just said, like let’s grow out two. Let’s explore the stacks ecosystem, right. With the Nakamoto upgrade, when you got 5 second block times or less, sure, I’m sure they’re going to be able to revisit something like that, but it’s just not there yet, right. I feel like we’re so early sometimes that I think we like to kind of get a little bit ahead of ourselves. But yeah, go for it. Yeah, as a biased opinion here. I love that the way you guys are going about it, just because I’m hiding away. So any traffic you bring onto the network is highly welcomed.
Community Listener
I can agree with that 100%.
Wolf Web3
Let’s go. All right. You see, we worked out on differences here. This is good. We got 2 minutes left. Damon, any closing thoughts? Like, please feel free. Obviously like to like to take us out and if I know Dimitri came up a little bit earlier, but if Dimitri is willing to like set up a separate time so that we can download this extension. I know some people might not be familiar, like, you know, I was having a little bit of an issue just finding like the zip file or whatever. So if he’s down, that would be awesome, but yeah.
Damon Nam
Yeah, happy to support any future spaces as well. Obviously would love work. We’re going to have our own, would love to have your audience and community join us for some future segments. I did want to comment real quick, you know, great feedback and the reality is is even on tap and some of these other L2’s, you’re going to have to pay fees, right? So no matter what chain you’re on, you’re going to have to pay fees and you’ll have to have that native token in order to be able to support gas. So just because you go to another L2 or or whatever, does it mean the fees go away necessarily? And for us, again, our initiative was to stay native, stay true to Bitcoin and you know kind of follow along the gold standard. The good thing is there are solutions in order to produce that liability in terms of gas if you need to. So even with our bridge, you can, you can bridge that over the ERC 20 if you’d like and you know get or or maybe even Matic and then you can get some severely reduced fees as well, but still kind of interact with kind of a wrapped version of the token to minimize those type of things. But yeah, just to be clear, even even if we decided to immerse ourselves in the TAP protocol on that ecosystem, which we didn’t because we want to stay native, there would still be fees that would be incurred as well.
Wolf Web3
Got it. And give us the date. Well, when’s the the launch date for the for the token?
Damon Nam
On the 31st, so literally a week out from now. And yeah, it’ll be available on on the centralized exchanges. If you want to learn more, just follow us on Twitter as well as join our Telegram groups and we’re going to be keeping everyone updated there. Certainly, not only just obviously the launch of the token, but the progress of all of these other products and services that we’ll be releasing. And for more information just go to Orangecrypto.com. Yeah, absolutely.
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