On the mic
Summary
Emblem Vault @EmblemVault and Adam McBride @adamamcbride joined the hosts to explain Emblem Vault's "vaulting" interoperability protocol. A vault lets an asset such as a Bitcoin ordinal be traded on other chains without leaving its native chain. Emblem Vault @EmblemVault covered the protocol's history since 2016 and a year-long legacy migration that paused trading. They also covered Emblem Markets, a chain agnostic marketplace that launched the day of the Space and had an outage during the show. Later, Kool @koolcryptovc talked about the SEC delaying the spot ETFs and argued that interest rate cuts and new liquidity matter more than short term noise. The group also debated which assets might get an ETF next, talked about fundraising, and closed with a token project pitch from Voice E. All of this is discussion, not financial advice.
Chapters
News intro: SEC delay on spot ETFs and a Tether edu blockchain education initiativeMomentAt 0:04:24 on X
Emblem Vault history: from 2016 to Ethereum mainnet in 2020 and the launch of Emblem MarketsMomentAt 0:12:42 on X
Launching a marketplace and the shipping industry metaphor for interoperabilityMomentAt 0:32:43 on X
Key quotes
“So the asset never moves off of its original chain.”
AAdam McBride0:17:34Share on X
“Bro, are you even in crypto if your if your if your site doesn't crack the first day, bro? This is this is it, baby.”
AAdam McBride0:35:39Share on X
“And one thing that I've learned is that the markets do work in cycles, all of them.”
NatNat0:36:12Share on X
“But for for Web three, we're so early. It's impossible to, like, fully gather how early you are.”
AAdam McBride0:43:51Share on X
“A delay for me doesn't mean a rejection.”
Kool1:01:49Share on X
Excerpts
Show opening and co-host check-ins
- 0:03:46 Dave What's up? What's up? What's up, everybody? Welcome. Welcome. Welcome. Welcome to another episode of ATC aka all things crypto, and you guys know how we have to start this joint. For anybody that's new here, please…
News intro: SEC delay on spot ETFs and a Tether edu blockchain education initiative
- 0:06:14 Dave So let's go, man. Let's go. I... This year was the first year I haven't gone in three years, actually, but I love it, man. It's it's something crazy, dude. It's one of my favorite times of the year. But, yeah, man, it…
- 0:08:21 NatNat Quiet. Good. Good, man. I'm excited for this space. I'm excited to learn about what was recently launched. I've got some nice questions. I'm I'm excited, man. It's gonna be a good one.
- 0:10:20 Dave Definitely, I saw Jake and I was, like, super hyped too. You know? By the way, congrats, Jake. And for a day for our space as with something really special planned, I got some shorts out. I got a really cool some... I…
Emblem Vault history: from 2016 to Ethereum mainnet in 2020 and the launch of Emblem Markets
- 0:17:06 Dave Yo. I have so many... Just off that, I have so many... Maybe we get to the news after this because I I kinda wanna get into the quick... Cool. If you're cool with it, I kinda wanna get into the questions with this…
Simple explanation of how a vault works
- 0:17:34 Adam McBride Bro, I pinned I pinned the video up top for the monkey brains. Me and you, we can watch those videos up top. Basically, yeah, I don't I don't do the whole... That... Those kind of words, they they start losing me too…
- 0:18:53 Dave It does. That is actually the perfect explanation. Like, that made perfect sense to me. So I can trade it, store it, transfer it, and does it generally matter what chain? Like, our
- 0:19:05 Adam McBride No. I mean, what what we're building out is literally something that will enable you to take that Bitcoin, Ordinal, put it in an Emblem Vault, and one day you need it on Ethereum to take a loan out on it. But then…
Cross chain use cases and the chain agnostic marketplace vision
- 0:25:36 Dave Jake, I gotta be honest. I have a confession. This entire time, I genuinely had no fucking clue what the hell, like, that it... What that emblem vault did... Like, to this extent, I was like, oh my god. Dude, cool…
- 0:25:55 Kool Yeah. So it's it's funny because I went to the website, and I thought, oh, yeah. This is another bridging of of of, you know, protocol. I didn't realize you guys doing a lot more than that, man. That's pretty crazy…
- 0:26:13 Kool a lot, man. But how come how come your protocol is is not as as loud as as other other other other other, like, the open season market. Is it is it the users? Is it... Because they... I mean, you guys are doing a I…
Why the project has been quiet: the legacy migration and paused trading
- 0:32:39 Dave There's a Hey, guys. You wanna start a marketplace? Sure. Let's do it.
Launching a marketplace and the shipping industry metaphor for interoperability
- 0:34:48 Dave Yo. So I think one also other thing to be clear on that, maybe I didn't make this clear enough from the beginning and cool. My bad, is they literally just launched the marketplace today. Right? So it's literally brand…
Marketplace outage on launch day
- 0:35:30 Dave Guess What CEO is gonna come into a space and say, yeah. So, our marketplace is down. We're not sure what the issue is, but, yo, I... Jake, I'm not even joking when I
- 0:35:39 Adam McBride Bro, are you even in crypto if your if your if your site doesn't crack the first day, bro? This is this is it, baby.
- 0:35:46 Dave Seriously, I applaud you, Jake, for... Like, that's real to me. It's not the same old fluff bullshit. You what I mean? Like, guys come in here. It's like, no. Everything's fine. We're good. We're working out a few…
Moving collections to new L2s without burning the original tokens
- 0:38:38 Adam McBride Yeah. I was just gonna say to frame it in in context a little, like, with what's happening just this past week. You know, Cole from... Or was it Cole from from, Pudgy Pancake?
- 0:39:56 NatNat Yeah. And I was going to say, the reason why a lot of these VCs don't know what you guys are talking about just yet is because you're that early. By the time they figure out what you guys were saying, you'll be…
- 0:42:37 Adam McBride we we are so fucked as a species, bro. It's over, dude. It's over in, a year, man. This is like... It's so crazy, dude. It's literally crazy.
Burn and mint versus preserving token provenance
- 0:47:00 Dave So let me ask you this question then. Like, what notable, I guess, projects collections can you share with us that are actually really taking this seriously and are taking full advantage of this right now? Because I…
- 0:47:37 Adam McBride I mean, if if you think about it, dude, like like, if you think about, like, DGODZ. Right? DGODZ has hop chains a couple times, right, using that, like, burn and mint mechanism. You know, Goblin Town just announced…
- 0:51:50 Dave Super interesting, man. Oh my god. There's so much going on. For those that are just joining us, you'll you'll get the Junie recap in a few. But, yeah, this conversation is super interesting, man. Super, super…
How selling vault contents works and the time lock vault
- 0:55:02 Dave You know what you know what it reminded me of? When it was, like, a vault inside a vault? You ever hear of eight minute abs? Yep. What about six minute abs? It's like a vault inside a vault. Legit. That's kinda where…
- 0:59:12 Dave Let's fucking go, man. And, you know, don't make plans for next Monday at 2PM eastern, 11AM because I'm definitely bringing you guys on another show that I run called Behind the Stacks because you definitely need to…
- 1:00:17 Dave Hell yeah. That's the reason why I asked you that DMT question this morning because Jack actually... Jack Binswitch just launched, like, his... It's like a stack... It's called Stacks Invaders, kinda like a play on…
Kool on the ETF delay, volatility and interest rates
- 1:01:49 Kool Answer about this. Sorry about that. It's full for quite enough. Yeah. Yeah. I'm not worried because of the people behind it, the people pushing this ETF. That's the reason I'm not worried. Having a delay, I don't know…
- 1:08:09 Dave Dude, I love it, bro, because, like, I... It's funny because that... When you... When I heard Jake talking and Adam talking earlier, you heard them say, we know that this is gonna be a long term thing. Right? It's…
- 1:12:28 Adam McBride Bro, I think ChatGPT is a propaganda arm of the SEC, bro. What is up with that,
Which assets might get an ETF next
- 1:15:25 Kool No. No. I do I do agree, Jake. We we we haven't had any ETF approved without a future product. That's one thing that's definitely a 100% true. You... But, of course, crypto Twitter is crazy. Right? We... We've seen…
- 1:21:06 Bread GM. I made it with, like, what, ten minutes left and not two minutes left. So, like, you know, progress. Progress is... Progress.
- 1:22:19 Bread new art is all pigs, like pig and pig gods, like, you know, I say fuck it. Let's roll.
Voice E pitches a prelaunch token project, then closing thoughts
- 1:33:47 Dave Kenny, I I I have to... Great. Bo, that was not easy, man. I appreciate you doing it. I didn't mean to kinda put you, like, on center stage. So, like, great job, dude. Like, for real. For real. Just so just so you…
- 1:37:34 Adam McBride Oh, it's great great talking to you guys. Great chatting. Market talk is always fucking the best. And you wanna talk memes? Let's talk memes some other day, man. Happy to join. And, hey, ping me ping me about that that…
- 1:38:54 Kool Yeah, man. Thanks for everyone for coming. We're here, like I said, all week, Monday through Thursday. Time is away, man. My time is off right now. Think what... Am I... I'm not East Coast anymore. So am I central…
Short excerpts from the auto-generated transcript. Listen on X for the full show.