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Foreign I am Sunny Agarwal, co founder of Osmosis. As Lisa and Al Gaib, I shall take us to Interchain Paradise. Today we're going to be talking about token portals, Polaris, this new project that the Osmosis team has been working very hard on for the past few months. And some of you may have already seen it online, bits and pieces, but today we'll be talking about why we're building this, a little bit of how we're building this, and then a quick demo on what it is we're building. So osmosis, our goal, we always had one goal, right, which was beat centralized exchanges. And we were like, from the beginning, we're like, what do we need to do to beat centralized exchanges? There's three main things we need. We need better ux, we need asset breadth and we need privacy. And for basically over the course of the last one year, Osmosis has been very focused on the ux. We, you know, last year I gave a talk at Cosmoverse about smart accounts and how we're going to improve the ux. And you know, I think we've, over the course of last year we've sort of delivered this. If anyone's tried one click trading on Osmosis, there's, that's like the first instantiation of smart accounts and there'll be a lot more cool features yet to come. Where if you're coming to the Cosmoverse hackathon this weekend, Osmosis is running a smart accounts track where you can hack using the smart account stack to build a lot more account custody features for Osmosis. We've also shipped a new portfolio page that makes it easier to track your portfolio, get graphs, you know, see not just your Osmosis portfolio, but other apps in the ecosystem like Mars, Levana, all in one place. We've shipped a brand new trading experience that allows you to, you know, buy, sell, input your values in fiat value, which is very nice, have limit orders available. So, you know, the trade experience on Osmosis has really come a long way over the course of the last one year as well. Now going forward now, the next step that we need to solve is asset breadth, right? And that's kind of what we're going to be focused on, focused on here. So when you go on centralized exchanges, they're kind of awesome. You can buy everything in one place, right? You can go on Binance and you can buy Bitcoin, Eth, Sol, xrp, Doge, all in one place without having to switch sites and you know, that's what users want. Users aren't chain maxis. They just want to trade everything. But there's nowhere in Defi you can do that today, right? There's nowhere you can buy SOL and ETH and XRP in one site. You have to go to different sites, you have to use different bridges. You might not know what bridge to use. And when we started Osmosis, we were like, okay, we're going to solve this by becoming the Switzerland of Dexs, right? By being an app chain Dex, we're going to connect to all the other chains and have liquidity flow onto Osmosis, and people will be able to trade everything in one place. But over time, over the course of the three years, we've learned that there's problems with this, right? And we call this the great chain divide. And what this basically means is most chains are just trying to foster their own defi ecosystem, right? Probably like, you know, 75% of the chains that exist today are mostly just trying to be defi chains. And because of that, they don't want liquidity to leave their ecosystem. And they have little desire to support liquidity on other chains, whether that's through, you know, market makers or liquidity injections, you know, and unless you have the support of, you know, foundations or teams or whales of these projects, it's really hard to bootstrap liquidity for these other assets. So, you know, for example, you have like Ethereum native assets, ETH maker, Pepe, you know, they're all just going to stay on Ethereum. There's good enough Dexes on Ethereum. You have, you know, L2s, like base, where also Uniswap exists. But, you know, a lot of these new projects, they want to try to, like, bootstrap their own internal defi projects as well. So that's why on base you have stuff like Aerodrome, which is, you know, much promoted much more heavily within the ecosystem than Uniswap. And then all the ecosystem native assets like Arrow, spx, dgen, they all just flow onto the base native Dexes. And then you see the same thing with Solana, right? Like, and this makes it very hard for something like Osmosis to get liquidity for stuff like Whiff and Bonk. You know, people come ask me like, hey, I want to buy Whiff, but like they. Or I want to buy Bonk, but there's like, you know, $5,000 of liquidity on Osmosis, that's not enough to buy. And it's like, yes, we know that, but like, how do we solve this? Well, where osmosis does get traction is on app chain assets, right? So things like the Cosmos Hub, Celestia, Akt, all app chains that don't have their own native spot decks. Even dydx, you know, it's a perps Dex, but it doesn't have its own native spotdex. So that makes Osmosis be a great spotdex app chain to serve other app chains. And obviously the biggest one here is bitcoin, right? That's, you know, the big holy grail. And you know, that's where Osmosis is going to be spending a lot of its time in the coming months and years to focusing on being this really good app chain, Dex, serving the Zap chain, serving Bitcoin, serving BRC 20s and runes and stuff and being the app chain decks. But so that still leaves us with the problem of this massive liquidity fragmentation. Every ecosystem has its own preferred liquidity venue which all have their own interfaces. You know, Uniswap Osmosis, you know, you do have like some aggregators like Jupiter, but they're still very ecosystem specific. And then they all have their own wallet interfaces. And so similarly that wallets are very sticky for the users. Liquidity is also very sticky for the ecosystems. And so like, okay, where do we solve this problem? How do we still provide our end goal of giving users one place to trade everything? Is we're going to solve this at the interface level. That's where, you know, it's the least sticky and has the lowest switching cost for users. That's why we developed Polaris, the token portal. One place to trade everything on any chain. So when we're designed. When we were designing Polaris, we had a couple of design goals that went into this. Three main ones. One is we want to be able to scale to new ecosystems quickly. Right? You know, a lot of cross chain apps, you know, they're very, oh, it's EVM only or only evm and Solana, right? It's like, no, we want to be evm, Solana, move Bitcoin. We want to scale to many things quickly. We want to minimize user frictions and we want to be able to use existing wallets. I don't know about you guys, but I hate having to switch wallets or download new browser extensions. I want to be able to use apps with my existing wallets. So there's a couple of strategies that we went around in order to achieve those goals. One is we don't want to reinvent the wheel. There's a lot of Dexes we have to integrate. There's a lot of bridges we have to integrate and a lot of them we do are writing our own custom integrations. But wherever possible we want to work with existing aggregators. So within Polaris we make use of Skip, we use make of Ranger, make use of Jupyter, 0x Aftermath, which is a swe aggregator and we like make use of these. So no one of these aggregators actually is giving us the asset breadth support that we want, right? Like Jupyter is only for Solanas, Skip allows us to go from like EVM to Cosmos, but only to USDC on Solana or you know, there's a lot of. But by aggregating the aggregators we can actually achieve the asset breadth that we're looking for. I also included alloyed assets logos there because they're not really an aggregator, but they're a big part of how we combine these routes. A lot of time we bring assets to Osmosis, swap through the alloy and then bridge them off. Second, we want to be able to use existing wallets, right? So there's a lot of new projects out there today working on bringing this multi chain experience. But they often require you to download a new wallet or make a new account. You know, you have Infinix, Control Trust Wallet, really great projects. But you know, we want to get rid of that deposit button, right? We don't want you to have to move assets to a new account. We want you to use your existing wallets. We want no intermediate wallets, right? So when you go on Rango. So by the way, I'm not trying to shit on any of these projects, right? These are all amazing projects whose work we're building off of, right? We're using Rango, we're using Skip, but we're. So I just want to show you what are the pain points that we came across that we wanted to solve. So on Rango, when you come and you want to swap from Solana to Osmosis, they make you go through polygon first, but I need to connect a polygon wallet and that's kind of like I don't have a polygon wallet, I don't have Matic to pay gas. So like what do I do? So we want to solve that, we want to minimize the manual approval. So on Skip, if you're trying to swap from USCC on Solana to Atom on the consulshub, it requires two signatures, right? You have to wait for the transfer from Solana to Noble first, which Might take a few minutes and then you have to do a second transaction to send it to Cosmos Hub. And it's like I don't want to sit there waiting for two minutes to pass before I can do my next transaction. So we want to get rid of these multiple approvals and we want to avoid on chain contracts. So the way a lot of these people hook things together is they write these on chain contracts is from the lido from Li Fi and you know, but you'll notice that what they do is they have to write a special contract for every single bridge they want to integrate. And like I mentioned, one of our goals is we want to be able to scale to new ecosystems quickly. Right? And you know, they can do this with solidity, but we don't want to have to do this in solidity and Cosmos and Solana Rust and move and stacks and like it'll get very unwieldy very quickly. So we're trying to avoid on chain contracts and use as much off chain reusable components as possible. So with all these goals we kind of developed this thing called Polaris Autopilot which basically how it works is the user will generate a new private key based off of a signature from their existing wallet. So you'll see how that works in the demo. But basically you sign this message and then that signature is used as the seed for as the entropy to generate a seed phrase for for a new wallet that exists on all the chains. This key is stored in browser and so this is nice because that means the JavaScript of the site can sign in the background without manual user signatures and it can hold funds on intermediary chains and it does not need on chain contracts, which is very powerful because it's all done in JavaScript and go. We can reuse existing Bridge and Dex client libraries. We don't have to write on chain smart contracts for every single one of these. And one nice accidental side effect of this process is that we can actually use private mempools for MEV resistance. What that means is normally on a lot of these cross chain flows, you have to submit the entire route on the first transaction. But what that's doing is that's leaking your entire transaction trade route. Right. Let's say you're doing a swap on Osmosis, bridging to Solana and then doing a swap on Solana. If you reveal the swap you're doing on Solana right up front at the beginning, that makes it very easy for someone to front run you before you make your Solana transaction. By doing these steps piecemeal and only submitting and revealing as needed, we can submit the Solana trade to a private mempool to Jito on Solana and that prevents this MEV extraction that is very common in cross chain flows. And then finally, while this is all designed to work fully client side in your browser entirely self custodial, we also offer the ability to you can share the key, shard the key, send it to a Polaris MPC service so you don't have to remain online. So you don't actually have to even keep your browser window open. You can initiate a trade and turn off your laptop, go do something else and the entire trade will still execute in the background. While designing this autopilot, we also realized hey, we can actually reuse a lot of the same mechanisms to build what we call Polaris vaults. Polaris vaults are basically you can reuse autopilot system to allow you to custody assets on chains that you don't have an existing wallet for. So you can think of this as an application specific multi chain wallet. But you know, like I said, the goal is we want to be able to scale to new ecosystems quickly and building new ecosystem wallets is hard. How we solve this is by building an application specific wallet. You know when, when you use Polaris vault, you can't go use this with WalletConnect and connect to any old any DAPP on any ecosystem. It is a application specific vault designed for trading. But we do allow you to export the private keys that were generated so you can import them into another wallet. So let's say you use a Polaris vault to buy ton for the first time, but then you want to go download a ton wallet later to use some dapp. You can export that private key, import it into ton keeper and start using it. And Polaris vaults will be eventually how we bring a lot of the smart accounts capabilities that we've designed on us built and built on osmosis and bring them to a multi chain world. And then finally the last goal is we want to avoid gas dead ends, right? So you come on, this is jumper. I'm trying to swap ETH on base to WBTC on scroll, but I can't do it because I don't have any ETH on scroll. So we want to avoid these sort of gas dead ends. And to solve that we had to build a native gas station as well, which basically involves you can pay gas on one originating chain and we'll pre fund your gas on all the intermediary accounts for the entire route. So with all that, let's hop into a demo. So how does it look? You land on the page. Looks like a pretty typical Dex, you know, site. You come in, you go ahead and connect your wallets and you can choose, you know, wallets of all the different ecosystems are aggregated in one place. I'll say, hey, I want to come in, connect my Phantom. You can choose what ecosystem you want to connect your wallets for. Right? Fantom supports Solana, Bitcoin and evm. But let's say I only use it for Solana Bitcoin. I don't use Phantom for evm. So I deselect it and go ahead and click Connect. Prove the connection. Now you can also filter by ecosystem. Say I want to look for only my EVM wallet. It'll filter that down. Go ahead and connect my metamask and you'll see. Okay, cool. I have Phantom connected for Solana and Bitcoin, Metamask connected for Ethereum and whatever, bunch of other EVM chains. And I go ahead and click done. And now you can come here and open up the portfolio drawer, which by the way is one of the most useful things even in our like private Alpha. This is probably the feature. Oh, this probably the feature I use the most. Was that my like silent signal to be. I'm like out of time. Okay, well this is the portfolio, you know, the portfolio view. You can see all your assets. You know, we aggregate your balances, we say, hey, you can see your BTC on Bitcoin, your WBTC on Ethereum. Same thing with eth. You can come and say, hey, I can see this is how much ETH exposure I have regardless of which chain which on Ethereum or Optimism, whether it's as wrapped Eth or even if it's as an lsd. Right? You probably just don't care. You just want to know, hey, this is my aggregated ETH exposure. You can also switch to the network view if you want. You can break it down by network. When you are choosing what network assets you want to buy or sell, you can choose what chain you want to receive it on. But our goal is really to move towards a full chain abstraction view. We want users to not have to think about what chain they're using and and instead just focus on what is your token exposure. So let's go ahead and make a quick swap. We'll go ahead and swap some Sol for some Degen, right? So you can go ahead and search Degen. It'll automatically suggest to you what chain to buy it on. So it'll say hey degen most liquidity is on base so it'll automatically select that and give you a quote. Let's try something more challenging though. Let's try buying some tons of which you'll notice that we actually don't even have a ton wallet. But we can solve this in two ways. One, you're given the option, hey, do you want to connect a ton wallet? I don't want to install a new wallet, I hate installing new wallets. So instead I'll go ahead and use the Polaris vault feature. And basically as I mentioned, what it was going to do is give you a pop up transaction that it will sign a message. And what this is going to do is it's going to generate a new account that's secured by your existing phantom wallet. So it's always fully self custodial and now you can go ahead and see the route and once you're ready to transact you can go ahead and approve it and it'll do two transactions. One is like I mentioned, it'll use the gas station to pre front you some gas on all the chains needed. So you'll go ahead and assign that and then once you do that it will ask you for the second step to actually execute the autopilot. And you'll notice this is a pretty complicated swap going on here. To go from Sol to ton, there's no direct bridges between Solana and Ton network. So what we have to do is we swap the Sol to USDC on Solana, we bridge it to Noble via cctp, we we bridge it to Osmosis via ibc, we swap the USDC to USDT on Osmosis, we bridge the USDT to Ton via O bridge and then we swap the USDT on Ton to Ton using ddust. And so it's like man this is a lot of steps to do that yourself you'd have probably have to go to like five different sites, deck sites, bridge sites. It'll probably take you at least an hour. Instead you Polaris automates all of that in a couple minutes. And there you go, you got ton on tonchain. So almost done. We got one more thing. So like I mentioned, what do we need in order to compete with sexes? We need better UX and asset breadth and privacy. Let's solve privacy. So the other big thing we're going to be focusing on over the course of the next year is, is Polaris privacy mode. So Polaris privacy mode, what it will do is It'll basically generate Polaris vaults for users on some privacy preserving chain like Namada or Penumbra. And it will dispatch trades to whichever has the best liquidity and return assets to the privacy chain. So you can't tell who made the swap, you'll just know some Polaris privacy vault user made a swap. And what we're effectively doing is turning every chain into a privacy chain. So you know, there are some great privacy chains, especially in the Cosmos ecosystem, right? But when you swap on Penumbra or Nemata or Secret network, you're limited to the liquidity of those eco of those chains. What Polaris will do is it gives you all the privacy benefits while tapping into the global liquidity. So quick demo or you know, visual normally on Solana, if you want to swap some Sol to Bonk, you'll know exactly who did it. You know, here you can see it was Alice that did the swap. But instead with Polaris privacy vaults, Alice, Bob and Charlie can all, using a Polaris vault, deposit their soul to a privacy chain like Nemata. And you know, underneath the hood it's all being held by vaults of these users. But as a privacy chain, you don't know who, right? And so when someone comes and does a swap, you know, it'll dispatch to Solana, swap to Bonk and go straight back into Nemata automatically. You don't know who did that swap. You can imagine this will get expanded to every chain via Polaris, right? So you have Ethereum, Solana, Osmosis, you bring in Namada, all the users will take all their assets and deposit via privacy vaults into Nemata or whichever privacy chain we use. And you have all these trades being dispatched to tapping into global liquidity, doing multi chain swaps. You know us ETH is going to Ethereum, swap into usdc, going to Solana, swapping soil. All these trades are happening while everything is being private. No one is leaking their trading strategies, no one leaking any of their privacy details. So yeah, with Polaris we're going to solve ux. I hope you guys thought the demo had some good UI and ux. I hope it was nice. We're going to solve asset breadth and we're going to solve privacy to build the token portal. All tokens, all chains, one app. Thank you.