What changes with USDT on Bitcoin? w/ @lorenzonical

Okay, I now see we have both Victor and Lorenzo here as a speaker. So I'd say we can start with some introduction. And so you know Victor from UTexo, but perhaps we can have Lorenzo introducing the UNISATs and himself a bit as not everyone here may be familiar with what UNISAT is and what is building. So Lorenzo, feel free to start speaking and give us a quick introduction about yourself and what you're building. Sure, of course. Hi everyone. Nice to meet you Victor. This is Lorenzo from UNISAT. So a quick intro for UNISAT we have been building UNISAT wallet since 2023, which is a Bitcoin wallet for different kinds of assets. We support protocols like Ruins BRC 20s, Elkins, etc. We also build a block explorer called UNISGAN, which integrates these protocols into one infrastructure and is quite convenient to search for specific transactions and activities on Bitcoin. For developers, they can access the data through the UNISAT API and the API serves hundreds of dev teams. It's designed for helping a developer to begin Bitcoin development and sending out experimenting transactions. For me, a little bit about myself, before Bitcoin, I was previously a game developer back then. I was trying to figure out a way to expand the game universe into an infinite time and space simulation. By that time, the hardware was so limited. Then I was aware of Bitcoin network that realized it's possible to achieve that with the peer-to-peer network. That's basically the initial purpose that chose to work on Bitcoin. I've always hoped that when Bitcoin can become something more than digital gold, it could also support real world activities. We learned over the years that it's not easy to do that. But I think bringing US data to Bitcoin could be a really important step. That's why I'm excited about what your tax always building and about our collaboration. I also have a few questions for Victor. So yeah, glad to be here. Thank you, Lorenzo. It's very nice to hear from you. It's great to have UNIOS as a first, like a significant wallet. I would say who support RGB and use it here over Bitcoin. Thank you for cooperating with us. I'm actually curious to all UNIOS team because your team did a amazing job. I did it very quick. I would say much quicker than most of other integration partners with whom we work. We have big names. UNIOS team is actually one of the leading Bitcoin wallet teams. That's what I can say from my experience of working with them. Thank you guys. It's nice to talk to you. It's very serious. It should be fast. It's amazing to have you both here. As a first question, since you guys like UNIOS has been around in the Bitcoin ecosystem for a while, and they've seen all types of protocol coming up from rules to ordinals, top route, etc. Victor, you also were a hard-earned Serials builder in the past, as we know. As the first question, I'd like to ask you what led you guys to build respectfully UNIOS and UTexo? What has been the biggest challenge that you have seen as a build a company in the Bitcoin space? Victor, you first. I can go first. I mean Bitcoin since 2015. My first Bitcoin venture, I would say, was a conference. I was doing conferences in FIntech, and also in 2015 I did first Ukrainian Bitcoin conference. That's how I actually learned about Bitcoin, because I was hosting the conference. I was like, okay, if I'm hosting this, I need to at least understand what I'm hosting. When I learned about Bitcoin quite good, before that, I was learning about Bitcoin back in 2012, when I was writing a paper about this, but it was more economical papers and technical papers, so I didn't understand technical specifications. Since I dive deep into Bitcoin, my first big read was Satoshi White paper, because it's actually the first book everyone needs to read if you do anything concurriptor honestly, because Satoshi is such a genius, and he is Bitcoin weight paper is still good read, even now, even like this white paper is almost 20 years old, but sometimes I'm just coming to this white paper to be inspired with new ideas. So yeah, because that's when I just started my Bitcoin pass, but then in 16, 17, being involved in probably one of the first Bitcoin projects, which issued one of the first Bitcoin tokens, actually before RUNES, or the RGB, there was a protocol that allowed you to issue tokens called Contrapati or Color Tokens, and I was working for a company called Storje, which did one of the first token sales, was they were token SGX, SGCX, which then they converted to Ethereum when they did the same in 2017. So Storje was my first big company where I worked, it was not necessarily Bitcoin company because they were building a decent white cloud storage, but they being big Bitcoin believers. Even Vitalik buterin, before he started Ethereum, Vitalik actually was an editor in the company, an editor in chief of Bitcoin magazine, and he started Ethereum because back in the days, Color Tokens was quite bad, and Silicon building tokens on Bitcoin was very hard. So that's why Vitalik actually started Ethereum. And Vitalik was also collaborating with Storje. So after Storje, he built this big dev company called Boosty Lops, and in 2022, I decided to explore some venture investing, like myself, like a source of funds, like a starting of the fund, and I decided that my funds should focus on Bitcoin, because I genuinely believe that if DeFi became so successful on Ethereum and Solana, then at some point it should come back to Bitcoin, and the problem with Bitcoin was just, it's a hard technology, honestly it's quite hard, it's much harder than Ethereum, because Ethereum has all these amazing tools that you can use, and it's quite easy to build on Bitcoin. It's not that easy, and also like in yet understands the principles of Bitcoin you take so, because if you think like Ethereum guy and building Bitcoin, most likely it will be even harder, because I mean, it's a different blockchain, it's like account-based blockchain for Ethereum, Solana, and everything, and for Bitcoin you take so. So I found the opportunity that, well, first of all it's hard, means if it's hard, it's a bigger kind of entry point for bigger guys, and bigger guys was like, oh no, we don't want to do it, we don't want to do Ethereum or Solana or something else. So I was thinking, okay, I have a first mover advantage. Also, most of the Bitcoin-Moxie guys, honestly, they were building kind of spaceships for themselves, not for users, most of the Bitcoin-Moxie companies have been built for Bitcoin-Moxie, and because they were not thinking about it's a kind of a big adoption, because I mean, when you have a lot of Bitcoin's, and you're very rich, you're thinking quite a little bit different, and you think that everyone kind of share your values. You're just like wondering why people don't have one Bitcoin yet. So it was another opportunity because the competition was quite small. So I decided to kind of seed and support a couple of first Bitcoin-Dify primitives. For example, our Ventures Studio Incubated company called Stream Network, which was probably actually the first Bitcoin-staking protocol, which were making yield out of lighting networks. So it was probably our first big push, and it started by my ex-employees, Augusti Labs, and those guys actually introduced me to Bitcoin, to Bitcoin Lightning, to top-rotuses, to RGB. And then later, I discovered runes, and one of the projects we incubated was also runesdecks.com, which was one of the first runes AMM exchanges, but sadly, runes ended up just being just a MIM coin standard on top of Bitcoin, and we know that MIM coin is just a hype that comes in and going, like it's constantly coming and going, so every cycle, like a MIMs start first, and then every single one is going up. But the problem of runes was that developers of runes, and main guys behind runes, they never were thinking about making runes, something more than the MIM coin protocol, and because of this, like runes died, because... But actually, finding enough, like runes were dying quite slow, because Bitcoin is slow. And so I was wondering why, like, when 10 crash happened, why runes didn't crash so quick? And the answer was quite interesting, because Bitcoin moving slow, people were not able to play so much orders. And yeah, but anyway, when runes died, I was thinking, like, what to do next, and one of the companies we incubated in our venture studio was TundraStack. And TundraStack was one of the first RGB companies. We started this company in 2023, 2024. It was kind of a joint collaboration with Tether and Fulger Ventures. We just decided to do something cool on RGB, and we started a company that were building tools for RGB. So TundraStack was a company kind of like in furion, in furion on Ethereum, or like, we know it was kind of like RPC provider for wallets and exchanges to run RGB and RGB over lightning. And so like last year, like when RGB was being closed, the main launch, we realized that RGB need to bridge. And we also had a bridge that we developed in our venture studio. And we were thinking, what if we kind of also introduce a bridge and combine it with a tool for developers and kind of create a new company, which we kind of like started, I would say, like, end of last year or last year, which became kind of UTex. So UTex is kind of a combination of everything me and my team build in a past. And that's what UTex is. UTex is a company that run bridge infrastructure that allow you to mint already use the key on Bitcoin. We recently got a license from Tether to be a minter of UTex. So like a UTex, it's kind of an official UTex on a Bitcoin chain. We also integrate UTex on Bitcoin using our SDK and API to largest exchanges and wallets, such as UniSat, or a gate exchange, like we announced yesterday, and there will be much more exchanges, even some very, very big names, that will soon support UT deposit and withdrawal over Bitcoin network. So you will be able to deposit, use the key on throne or on Ethereum or on Bitcoin. And so that's what we kind of like build over last, like, 10 months, 12 months, since we did our 7.5 million seed round from multiple notable names, like Franklin Temple, Tether and Porto Ventures, maybe no even 11, and a lot of other great guys. And yeah, we're going live quite soon, by end of this month, with the UZT for institutional clients, because I mean, first you start distribution from institutional clients and then institutional clients distributed to...