1:11:44 Jacob Phillips @JacobPPhillips: So Yeah.

1:11:45 Dave @DCBK2LA: I'm kinda curious. Like like, are they happy? And, like, what's their kind of profile, like, risk profile?

1:11:50 Jacob Phillips @JacobPPhillips: Yeah. I don't know this to a 100% be the case, but my ongoing theory is that it's evolving into, like, a little bit of a barbell strategy where you have, people who don't wanna take on any risk. And so they're, like, just trying to minimize risk as much as possible. These folks will, like, only consider super battle tested protocols like off a and Uniswap, something that's been around for years with billions of…