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Oct. 2, 2022

Deepanshu Tripathi: Build Your Custom NFT Marketplace | Ep #025


What does it take to create a decentralized Shopify for the NFT Creator Economy? This is the story of Deepanshu and his ambitious project AssetMantle, a no-code, interoperable, interchain framework for NFT marketplaces that provides all the elements required to create individual creator NFT marketplaces and economies.

Resources:
AssetMantle Website: https://assetmantle.one
AssetMantle on Twitter: https://twitter.com/AssetMantle
Deepanshu on Twitter: https://twitter.com/deepanshutr
Deepanshu on LinkedIn: https://www.linkedin.com/in/deepanshutr
Transcript and Chapter Markers: https://www.buzzsprout.com/1968123/11418152

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Transcript
Roy:

So today on our podcast we have Deepanshu Tripathi, the founder of AssetMantle in the house. AssetMantle is a layer one for interoperable metaverse games, enterprise, and more. AssetMantle is enabling decentralized identities on the blockchain, and it also has a decentralized NFT marketplace, which is enabling creators to mint and sell NFTs with zero friction. This is the MetaRoy Podcast. I am your host Roy, and I welcome you again to a brand new episode where we make the world of Web 3.0 simple every week. If you have tuned in for the first time, welcome, and if you have been following us for a while, welcome back and please subscribe to this podcast for any future episodes. Deepanshu, thank you for joining us on this podcast. It's my absolute pleasure to welcome you here. How is it going?

Deepanshu:

Hey. Hey Roy. Thanks for having me here. Going great. , we are sitting like at the time of recording just before the merge, so like, excited about that I guess.

Roy:

Exactly. Just two days to go to the merge, right? How are you feeling about it? What are your thoughts on the merge?

Deepanshu:

I have a very firm belief in the whole Ethereum developer community, and I do not think that technically anything can go wrong. But, POS is something that is kind of dependent on the end staker, the end like person who is staking and the trust they put inside. So just a little bit iffy about that. Other than that, I think, , most probably it's gonna go, 99% is gonna go as planned by the very smart people that are building Ethereum.

Roy:

Exactly, and hopefully we see that because it has been really a long time coming, right, Almost seven years if I am not wrong. So it is something that the entire, , Web 3.0 ecosystem is waiting for. So let's see how it goes. Deepanshu, let's start with understanding your background a bit. So can you tell us about your career journey so far, and how did you come into being into the Web 3.0 space?

Deepanshu:

Absolutely. So I'll keep it a little short. My journey has been not that big as well, and at right now, 28 years old. Formally educated in engineering and computer science. Through my college as well, was very much inclined towards the Web 3.0 blockchain technology at a particular point of time. Bitcoin, Ethereum were the ones that were all the rage there. And the thing that was cool to do in Web 3.0 was to mine. So that is what we tried to do in college. Build a script that will mine on college computers. So from there like, , I stepped into an organization where, , like, it, it was a startup where, we were building a B2B point of sale, mobile application, , that will integrate with, literally all the payment instruments that you can think of. So from card, NFC, Apple Pay, Google Pay, UPI. All of those payments and since it's probably built from scratch and I was thrown at the deep end of integrating with all these complex and old tools, set these FinTech like payment instruments and in, in integrating and working with those and working with those arcane and old APIs, I gained a very keen insight into how like the current FinTech infrastructure is built out and realized that, there is one major issue because of which, like, we are not able to achieve those 80,000 benchmark tps that Visa, MasterCard are able to produce. And it is mostly because of the reconciliation. Reconciliation to keep it very simple, it means converting our data from one representation, one way of showing it to another way of showing it, right? So your Aadhaar card and your PAN card might be representing you, but the data that they have might be different. They might both have your address, but the address representation might be different. So how do you convert from one to each other? So that's reconciliation. So, imagine then what would a reconciliation free world look like and what would a web where objects are represented only once, digitally would look like. And how would ownership or control over those objects look like? So right now, like let's say , you as Meta Roy, the channel exists inside the YouTube database as one entity, , inside all the other platforms that you are like, , publishing this podcast as a different entity. And all of them are pointing towards you, but none of them are able to talk to each other and are telling hey is the same person that we're talking about, right? So how can we represent Meta Roy as a singular, like digital entity and make all the other applications that are referring to you as like referring singularly. So that was the vision, that was the mission that remove the reconciliation layer. And I started with there and even today we are still sitting at that same vision with AssetMantle. But yeah, I will quickly run through the journey in between. So, , then while I was working on that product and it reached almost the end, like, , we built it out and it went on to get some awards at the Asia Telecom event where it was nominated and it won the award for the most innovative mobile eCommerce app. And majorly the job was done and I started looking for like, my next big project. So again, blockchain came in, in the pictures. Started with mining again, this time, building my own equipment, Ethereum mining. , then realized that hey, like there is no, at that particular point of time, there was no centralized exchange. So started building that with a bunch of people and from my organization, part timing it, but we were disrupted, , quite quickly by Koinex. So, , had to dump that project as well. And finally like, came up with the idea, Hey, let's not build the tools for blockchain. Let's build an application inside the blockchain itself. So then, then the idea came about like tokenizing, like digital asset ownables and enabling exchange for them. The digital asset that we saw that did not have an exchange at that particular point of time was ESOPs. So like big companies like Amazon, Google, et cetera. What they would do is, or even the small ones that are not publicly traded, they will give you shares that vest over a period of time. But there is no secondary market for it. There is no market for it. Like if you were exiting, you cannot directly find a buyer for it. So we were like, Hey, we can tokenize and make a market out of this. , but , like again, the regulation at that particular point was very, very iffy. Even more iffy as is right now. But fortunately we started building, we even identified the technology at that particular point of time,Tendermint core consensus Engine and Cosmos were in Alpha mode, not even production ready. The chain with Atom Cosmos hub was not even live back then. But I read through the white paper, I saw the vision that they were building it with, which was to build a internet of blockchains. And that was permissionless blockchain. And that was like that, That was something that like vibed with me that okay this could possibly be the future of Web 3.0, where there are a lot of permissionless blockchains that interact with each other instead of this vision that like Ethereum held at that particular point of time, which was to have one computer for the whole world. So like, went with it. And fortunately was able to come in contact with a family run business out of Singapore, which was Rhodium International. And they were looking for a Management Information System for their high sea commodity trading. So they used to deal with six other families, around Southeast Asia. And they were looking for a system where they can input data and have it available as logs when there would be some auditing or mishap happening. The issue that they were facing was that this database would be sitting at one of their servers and whichever country server they were sitting at, that particular entity could go and manipulate it. So what was the solution for it? So the solution we proposed, Hey, utilize blockchain and that's how like ComDex was born - commodity distributed exchange, , the shift five product, , which was basically to take these bills called oceanic bills of lading (OBLs) for high seas commodity trading, tokenizing them as NFTs. At that particular point of time, we did not even know about the term NFTs right? And we are so early. It was, we are talking about 2017, 2018. And we built these NFTs, tokenized NFTs and refunged NFTs as well, integrating with Western Union to represent the fiat incoming and allow for through our DEX, escrow and exchange of these assets. So, built that out. Went into production. Is live right now. Is doing millions of dollars of worth of trade. But it was a consortium project like that validation was not done publicly. The nodes for this chain was run by all the family, all the like business owners of that particular, closed trading group. But realized that all of this tokenization and exchange could be utilized to tokenize a lot of other stuff than oceanic bills of ladings and high seas commodities. , so it took all of this code, the full stack, including the front end, including all the client and all the messaging services, et cetera, and made it open source and package it under the project Persistence. Went on to co-found Persistence. And in 2021, January, also, we were very early with NFTs. So we tried to raise on this NFT marketplace and digital real world asset (RWA) tokenization. That particular point of time, unfortunately, NFTs had not taken off and like no one was really interested in the project. And we were bootstrapped, like since 2017. So the funding was a, like, important thing that we need to solve if we wanted to scale up. So we had to pivot a little bit. We did not want to go away from our Cosmos, POS roots. But at the same time we had to build something which was DeFi and which was something that was built on Ethereum. So we came up with this idea, this real world problem that was there, which was liquid staking. So what is liquids taking explained simply? It's basically in proof of stake instead of like in proof of work where like plug up big computer inside the socket and it does mining for you. In Proof of stake someone has to stake money on top of you, had to bet on top of you. And, if you're doing fine, you will make money and you will give a cut to the person who is staking. But the problem is if you have staked your tokens, on the validator, they are locked for 21 days and you cannot do anything with it. So there are billions of dollars of liquidity that are sitting without doing anything. You cannot draw a loan against it. You cannot finance it. What can you do with your stake position? So we wanted to make those stake position for basically POS chain, basically Cosmos, Atom. Cosmos Hub was our first integration and we built it out, while parallel y like continuing to work on this NFT tokenization, and exchange modules under the SDK in Persistence. Went on to like propose it as a standard way of building it. InterNFT standard. It got funding from InterChain Foundation and ran the working group to define this whole standard for eight months from September, 2020 to March, 2021. In March finished the standard, , specification and from March till December we built out the first POC as the module specification and the front end to deal with it also. And, came out with a testnet. And in January of 2022, we created it as a separate project AssetMantle and yeah, we're sitting here now. So that's, that's been the journey so far, I guess.

Roy:

It's truly amazing to see the journey unfolded right in front of my eyes in the last 10 minutes or so, because you literally told me about, you started Bitcoin mining from college, then you started commodity exchanges. You understood interoperability is the next big use case. You went to asset tokenization and then liquid staking. So you just expanded around the entire horizon of blockchain development, if I have to summarize if I'm not wrong. Which was the most interesting part of your journey so far?

Deepanshu:

I would definitely say it was building a bridge from Cosmos to Ethereum. So, , like, , at that particular point of time, Bridges were not a very well known entity. Recently in 2022, we have seen so many hacks, billions of dollars lost in bridges, but it was very evident to us back then also that the bridge could be the biggest point of failure. To architect it in such a way that the stakeholders are able to verify transactions without being able to manipulate it and distribute the keys in such a fashion that it is not possible for even one or two compromised systems to be able to compromise the whole bridge. So building the Persistence bridge, I would say was technically most challenging as well as the most interesting aspect of this journey so far.

Roy:

Awesome. And I had a question around choosing Cosmos and you said you understood, the vision of Cosmos as well, Right? So Cosmos is a relatively not that well known as Ethereum for my audience particularly. So can you help my audience understand what the difference is between Ethereum and Cosmos?

Deepanshu:

Right. Absolutely. So one can think of it in ways of like if, you have created a website before, right? So let's say you do not know coding language, right? Or you're not very well adept with it, and you do not want to mess with the base layer like internet protocol, all those scenarios, but you still want to publish a website, right? What would you do? You would do it through WordPress, you would drag and drop and like, don't have to worry about hosting, don't have to worry about what protocol is running underneath it and it is deployed and your website is up. But it is all done on WordPress servers, right? It is all done by them. And if WordPress were to get compromised or hacked, your website is gone along with it. So the security is dependent on WordPress. The other way to do it will be to develop it yourself. Take care of all the security, everything yourself, and host it yourself. So you are the end person responsible and there's no centralized entity that can make your website go down. So, essentially that is the core difference between building stuff on Ethereum versus building stuff on Cosmos. In Ethereum you are giving a very limited set of tool set with the language. Solidity is like a deterministic language, but it is like a defanged animal, a defanged cat. The fangs that can destruct the application have been removed and it's now like quite a harmless kitty. You can do a lot with it, A lot of mathematics with it. But, beyond that, like complex application, become a little bit too tricky to deal with it. But what it gives you is, hey, you don't have to worry about running a chain or figuring about, what is the consensus layer, how the incentivization for this layer is gonna work, or how the security is gonna work. You just, , build a contract and you deploy on top of it, right? And you are live. Security is taken care of. Tokens, gas is taken care of. The base protocols are taken care of. On Cosmos. It's like, , there's no smart contract. You have to build a chain from the like, Consensus layer is already built so you don't have to worry too much about it. Tendermint core consensus engine, the application on top of it, you have to build a whole of it. And since it is written in Go language, you can do whatever you want with it. Whatever Go language can do, your blockchain application can also do. But after that you have to worry about token economics. You have to worry about, , the security, the validators, who's gonna run it, what is gonna be the incentivization structure for it. So that's the core difference between them and in Ethereum, you would've seen there has been a quite recent move, , for some of the very big projects, , from the smart contract based deployment, Ethereum to their own private chains. Right? dYdX being one of them. And Bored Apes being one of them. So yeah. That's I would say the core differentiation, from a developer aspect.

Roy:

Got it. Got it. And at this point, I want to address how you kind of have a vision that before even NFTs came out, right? You had a vision around asset tokenization as the next big use case for web 3.0 Right? And not just that you just didn't stick to one blockchain, you kind of made it interoperable, right? So you kind of established or worked towards establishing that interNFT standard, right? For our audience, can you help us understand what interNFT Standard is and how is it different from, let's say, creating on Ethereum or any other blockchain for that matter?

Deepanshu:

First of all, like defining interoperability what's interoperability. So I will pick up a very simple example of like, what is it that it implies to have interoperability between smart contacts versus interoperability between blockchain. So you can imagine Ethereum with its smart contracts like apartment in New York City, right? Like all of the apartments are connected very quickly and you can talk to each other very quickly and there is no special permits or like access or passports or visas required for you guys to be able to travel to each other and talk. So the communication is very quick, but at the same time, the amount of space there is limited. Versus, , you can imagine a Cosmos, or like connected chains, , like suburbs or countries that are like spread across the globe and they have connections in between them, right? So you have to pay the cost of traversing. You have to get visas and passports and you have to prove that like, my existence here versus my existence there, et cetera. So, in getting a little bit more technical in at the smart contract level, since everything is running on one layer, You're directly able to send and receive messages without having to prove if what you're sending is correct or not. But when you go interchain, you have to not only prove that what you're sending is correct, but also prove that the consensus that is running the application. Is it being run properly? And what is the proof that whatever you're sending is correct and included in the blockchain? Right? So that's, that's where the complexity steps in. And then secondly comes the issue about data itself. So if the interface is same, like if I know how to talk to each other I can do so, but the underlying data that has to be standardized as well. So when a smart contract is talking to another smart contract on a chain, it's just should know what methods of functions to call on that smart contract. If you have defined a standard for the interfaces, you are done. They can communicate. But when you go interchain, you have to transfer the data as well. And the data is not standardized, right? The interface might be standardized, but the data is not standardized. You cannot even standardize that interface also because the languages that different chains are built on is different. So that is where the like complexity or issue of interoperability steps in and that is where the like main problem of building an interoperable NFT is. With ERC-20, it's very easy. It's just a token. So there's not a lot of data, it's just the number of token and the name of the token, right? So it's very simple. It's basically the same everywhere else except for UTXO based chains. But with NFTs it's quite different. NFTs, it has to carry the data along with it also. So building an interNFT standard is basically, building a standard for how to talk to the nft, how to do stuff with the NFT. At the same time standardizing the metadata of the NFT, how will the data look like? What is the structure that the data follows? How can I utilize the steam data across chain and every chain with different languages, with different specification, and be able to understand that? So that's basically the problem. And the thing, like, the standard that we're trying to build with interNFT that irrespective of what chain, irrespective of what language you're still able to understand and like work with that nft.

Roy:

Got it. So essentially, once this interNFT standard is freely available to everybody, essentially people can transfer their NFTs within blockchains, is my understanding correct?

Deepanshu:

Yes you can. So that's just the interoperability at blockchain level, but not only that, but interoperability at the UI/UX level also. So what that means is, if you have ever owned a, NFT on OpenSea, , and you might have asked this question, Okay, hey, this is running on Ethereum. Let's say Rarible is also running on Ethereum. Why am I not able to see my NFT in Rarible, right? My address is the same, my everything is same. Why is the NFT not visible, Why is it that my NFTs in Rarible is in this and OpenSea is in OpenSea? Why can't they crossover the UI/UX? That's because the data is not standardized. How to represent this NFT that is minted for OpenSea versus Rarible, there is not a standard set so they cannot show each others NFTs across, right. So building interchain NFT is also about standardizing how the UI representation of the NFT would look like. So irrespective of where you are, which application you are, your NFT looks the exact same across the applications. So that's the two pronged approach towards building this interchain NFT.

Roy:

Got it. Got it. , I think one of the things that I saw in your white paper was creators were mentioned very prominently right? Can you explain some use cases of how creators can use the AssetMantle protocol?

Deepanshu:

Absolutely. Absolutely. So right now we are very heavily focused on the creators because we hold one principle, very close to our design of AssetMantle, which is like every individual should only be able to stick to what they're good at and still be able to extract the most value out of the interaction with the platform. So, for example, if there is a creator that is good at creating art, is an artist or a like cartoonist or like xyz, right? But should that person be like good enough to be able to distribute their art. Is distribution and royalty extraction something that they should know about? No. Right. Similarly, should the creator know how smart contracts work? What is gas? How to deploy a smart contract, how to build a website, how to host a website. Should all of these components be in the tool set of the creators? No. So our approach is a no code for you to be able to deploy your marketplace on AssetMantle. So you can send two transactions and you would be ready with your own specification of NFTs and its marketplace as well on AssetMantle chain without having to deploy any smart contract, without having to incur any, like huge amount of fees. It will be sub cent or less than a cent. , So that's first. The second thing is building the UI/UX for it. The front end, we are building a product called MantleBuilder inside with just like Shopify you can just drag and drop and like create a storefront for yourself without ever knowing coding, et cetera. So creator focus is very high for us. And those are the two aspect building the blockchain based marketplace, building the front end based marketplace, and then controlling your own distribution. So when you're building a marketplace, you can set how much royalty you wanna pay to whom. And, , you can control, like literally control your distribution. AssetMantle has a program which helps all the creators market and get their product out to the end users. So basically that just not only disrupts the game for NFT marketplaces, it just disrupts the game for creators in general that you not only own or control your marketplace, how it looks, feels like, but also control distribution. Also control royalties, also control, , like extraction of those royalties. All of those are abstracted out and like built in, in such a fashion. Literally, you must know, need your art and nothing else, and you're still able to like build a whole distribution channel out of it.

Roy:

Got it. Deepanshu, you are literally building the Shopify for NFTs if I have to put it in very strong words. So that is a big vision that you definitely have. And I appreciate the vision that you have because you're making it easier for people like for me, if I have to, let's say, create an NFT marketplace on my platform, it's just as easy as using the NoCode tools like MantleBuilder, as you mentioned, to create that marketplace on my website and just start selling NFTs. I don't have to worry about the technology behind it, right? I think that is the real powerful use case in my opinion. Is my understanding correct?

Deepanshu:

Absolutely. Yeah. That's bang on correct. And that's why our focus is not really to onboard the biggest enterprises, the biggest brands on our platform. Our first focus is to direct it towards the artist that is too scared to think about Web 3.0 and is able to like mint and distribute their NFTs without ever having to worry about what chain is it running on, what gas do I have to play, any of that jazz. Because a lot of my creative friends, when the NFTs were blowing up in 2021, 2022, they came up to me and asked, Hey, I create this much but no art gallery would ever present my art, because I'm not big enough a name yet, so how do I go ahead and like distribute it and I'm like, Okay, I think I've got something for you. Anyone can come up and distribute. It's like YouTube or TikTok, right? Except for monetization is not controlled by YouTube or TikTok.

Roy:

Exactly. Got it. And not just the creation part of it, but with the interNFT standard that you're building, this can be part of the larger shared economy. You don't have to be limited to one blockchain or one particular set of customers who want to buy your art, Right? So this is across blockchains and with Cosmos, as you mentioned, this is interoperable, right? Between blockchains. I can sell my NFT anywhere, right? , without thinking about gas or transactions or anything of that sort.

Deepanshu:

Yeah, absolutely don't have to worry about the technology behind at all. You can be on whatever wallet, and you'll still be able to work with it. So the initial example that I gave that when I go to Amazon, I do not worry about what DB is running behind, , this particular functionality that I'm using. I just use it and it works. And that's how it's supposed to be also.

Roy:

That's great. I just understand the concept so much better now that you've explained it. Can you talk about how did you start building it? What was the team behind it? How did you guys come together? What was the story of AssetMantle?

Deepanshu:

So we have been building kind of the ideology and the idea of AssetMantle since 2017 in the ComDex days right. At that particular point of time also, it was tokenization of tradeable assets and exchange through our DEX. And we have gained our learnings. We have gone through working groups, pushed the standard and gotten a few recognition on the path as well. So the team was the one that got recognition from Cosmos itself, , as the first team in the world to be able to send NFTs across chain in 2019. That is in 2019, where there was not even hype about cross chain or NFTs at all. We were pushed for the interNFT standardization. And this modules, the learning, all of it is not just one year worth of effort. It's not just January, 2022 to now, it, it is learning and, , code is been rolling down with learning added on top of it too. Like since 2017. So the team that I started working with in 2017, only Abhinav my co-founder, is the one that has like stayed with me through and through building and being part of this journey. Over the time, the team just like diverged and a lot of like members became open source contributors to like bigger projects. But yeah, right now me and my co-founder have been the ones that have stuck to this vision for so long, and the rest of the team as well. We have been in contact, we have been working with for a long time, and finally like we decided, hey, we all wanna come together and like get behind this particular thing. We've been building in India on blockchains, like one of the oldest like teams that have been doing it. And literally we are connected to all the other Web 3.0 builders, operating out of India almost.

Roy:

Got it. Got it. Another question that I had was on the mantle token. Can you explain the tokenomics behind it and how it works?

Deepanshu:

So it's a dPOS token. It's a delegated proof of stake based tokens, and it is an inflating token. The token utility is like three-pronged. One is to participate in the POS and security. So you can utilize the token to stake it on validators and then you earn an inflation reward, if the validator is performing well. So that's first utility. The second utility is governance. So we put out governance proposal that changes the parameters on chain as well as our control, like committee funds, et cetera. So token holders get like governance votes. A third is like, bonding with NFTs. So our TPS is quite high, and literally within like a span of five minutes, you can mint 30,000 NFTs and the gas fees is less than a dollar for all of those. So the problem is like anyone can come and spam the, the chain with it, right? So what this mantle token, it is utilized to bond based on the data that the NFT is consuming on top of the chain, bond that many tokens with the NFT. And when you burn the NFT you can clean those tokens back so it kind of limits and sets a base price based on the number of tokens bonded. It incentivizes garbage collection. If you burn the NFT, if it is useless, not selling, you burn it off, you do not leave it on the chain forever and you gain the tokens back. And in general, like, yeah, rate limiting in quality assurance, et cetera. So those are the three use cases. And as reflexibility kicks in and more creators come in the total like demand, , for the token is expected to increase. Of course, the token itself becomes a rate limiter as well, a big rate limit. So we came in across one project that wanted to mint a billion NFTs. But the problem is that our total token supply is 330 million right now. So even if you bonded one token with one NFT you cannot mint a billion. So like we run into problems like that. So that's token utility. The second is with respect to the release cycle inflation cycle. So we are deflationary token with a two year halving, So right now the inflation rate is set to 75% and it will halve in like two years time period. This having cycle will continue to produce a significant inflation for 20 years, next 20 years. So by that particular point of time, the net transactions, the net amount of fees generated on chain, the net royalties generated on chain should be enough to sustain the operations on the chain. That is what our prediction is. So that's the release cycle. It also helps with the initial distribution of the token as well. If the inflation is high, a lot more people get a bigger chunk of the token than like the foundation just like hunkering down and keeping the majority chunk through and through, , throughout the lifetime of the chain. So, That's with respect to the release cycle and with respect to like the percentages of our initial token supply, the circulating token supply, since it's a community first, community run, community governed project, we wanted it to like be distributed to the community. So we ran a massive stake drop campaign that we created on our own, like, and put in a few ingenious ideas that we had and distributed it across 140K wallets and of the total initial circulating supply, 50% of the supply, we sent out to the wallet that we're already staking up there and OpenSea users as well. OpenSea traders as well. So Ethereum side NFT traders also looped in. So, yeah, I mean, I guess those are the three important metrics about the token economics that one should know about.

Roy:

Exactly. I understood it much better. I know your mainnet is already live. Where are you in your current roadmap stage and what is the future expansion plans that you have around AssetMantle.

Deepanshu:

So, the marketplace, we already are on DevNet with the full functionality implemented out including the front end. So it's available at devnet.assetmantle.one. The modules are under like audit currently, and since it's a GoLang based project, not Solidity based project, auditing process is a little bit more arcane because, the kind of bugs that can show up in GoLang are like a little bit more complex than can show up in Solidity. So the plan is to target per module basis and to send out like modules to the mainnet per module. So the next module that is planned out to be released by the end of this month is the identity module, followed by like every two weeks, one module being produced on top of the chain. So by end of October, hopefully we should have all the major modules on chain. The MantlePlace, the first marketplace that is built on the AssetMantle chain, is also already live with actual creators publishing their art there already. And, people can go out and create their identities there. Can also interact with the mainnet and send and receive tokens there. This week we will be releasing the, , white list and private sale feature, , the wish list features already out there. And the subsequent weeks we will be introducing the identity, the dex module, , the membership NFTs, and finally the royalties module. The whole roadmap is planned to be like fleshed out till October end. A lot of it is already there, but looking at the recent hacks, we are being a little bit more cautious with our audits and not hastening our journey from the testnet to the mainnet that quickly. Our testnet with the full functionality has been live, since 2021 December.

Roy:

Got it. Got it. And as a creator myself, I'm really excited about AssetMantle as a product. So, this is something that I would love to , test out myself. So, in any case, how does our audience, get to interact with AssetMantle, can you let us know the best way to do that?

Deepanshu:

Absolutely. So right now we have the marketplace live. So it's marketplace.assetmantle.one that anyone can head to, and you can go ahead and claim your username there. That username is gonna be unique to you and non-mintable again on the chain. And be able to see the genesis creators display their arts, display their NFTs currently, and be able to wishlist those NFTs as well as in the next week, be able to join the whitelist created by the creators as well. So that's the live functionality. That's where you can interact with the main chain, and using this application you can also send and receive tokens. There is the wallet, wallet.assetmantle.one where you can send, receive tokens, take them, participate in governance, et cetera. If you wanted to to have a look at the chain, the current statistics you can head over to explorer.assetmantle.one, and if you wanted to try out the DevNet, it's at devnet.assetmantle.one, where the full functionality of what can be done with AssetMantle has been exposed.

Roy:

Got you, Got you. And for people who want to check out resources will be put in the description below so you can go and check that out and interact with AssetMantle and give it a try and see how it works for you. Deepanshu, I just have a couple of more questions around. You have been involved, , with the development ecosystem for Web 3.0 in India for our longest time. Right. You had the oldest blockchain team as you mentioned, right? So what are the challenges that you have seen in the current Web 3.0 ecosystem, the development ecosystem in India? And what do you think are the opportunities for Web 3.0 to develop from an Indian perspective?

Deepanshu:

Yes, absolutely. So like this is something that like I keep on repeating in any interviews that I like, I have for adding, , more team members to our, our like project. And, , that is like the one very important thing. You can consider it a problem. You can consider it feature not a bug is that although Web 3.0, everything is out there, open source free for you to poke, free for you to read and draw inspiration from. Look at anyone else's project and try to do your best with that code and run better BD on top of it. The problem is that there is not a lot of documentation out. Like when we were in college, we were told to build on Java and C# where there are infinite amount of libraries with insane documentation. And hours and hours of videos on YouTube and like 1500 page this thick books out there that you can read and just get certifications on top of certifications. And then finally when you are assured you can go out and develop. But Web 3.0 doesn't work like that. In Web 3.0, there are no 15 hour videos. There are no 1500 page books. There are no documentation. You just have to read and figure out. So curiosity is the most important aspect and , that is one of the reason why if there has been no big enterprise that has been able to like crack blockchain, there is no big entity or company out there that that is building into like blockchain at this particular point of time currently, everyone is collaborating with our current project, but no one is building, right? The reason for that is this, and that is the biggest like blocker. India, the biggest blocker, I would say specifically if include this documentation aspect and the learning aspect of it. India. The secondary thing is that there is a lot of regulatory, , like uncertainty around. So, currently it's fine. You can pay your taxes and be golden in the eyes of your nation, but what about if it changes tomorrow? What about if it, if you become a criminal tomorrow, because this is a nation that on one night, PM says that, Hey, all the currency is gone and new notes from tomorrow onwards. Right. So the regulatory uncertainties, which scares a lot of people, especially we are from a nation where people prefer stability. People even today would much rather go for government jobs, stable jobs than they would go for startups and enterprises, right? So I think from the Web 3.0 perspective, that is one big, huge blocker that is stopping a lot of people from inching and like going insane with it.

Roy:

Absolutely. I couldn't agree more with you. On that note, Deepanshu, thank you so much for sharing all of these insights around different aspects, around Cosmos, for example, interoperability, the interNFT standards, , and what you are doing with AssetMantle is a great boon for creators all around the world. So I think this is one of the biggest projects that I would've perceived as a visionary project, in my opinion. So how can our audience connect with you online and how can they support AssetMantle, with the project.

Deepanshu:

Absolutely. So I guess the like easiest and biggest touchpoint is Twitter, I guess. Like, I'm not very like up to speed on what social media works for the kids nowadays, but our Twitter is out there, and Twitter has in description, a Linktree link where you can like, check out all the resources and our Discord channel, Telegram channel, Reddit, 4chan. So all of those are there. Secondly, the biggest contribution that would help us a lot would be through code, direct code contributions, open source contributions to the code, majorly with respect to documentation and with respect to creating, content for other people to learn from that, as I said, that as the biggest block and like, definitely not only our project, but every Web 3.0 project fit hugely be like up skilled by having contributors that are like creating learning resources.

Roy:

Absolutely. And for, , my audience to check out again, the links would be put in the description so you can go and check out the project, check out the details around the project, connect with Deepanshu all through the links in the description below and feel free to reach out to the community and say hi from the MetaRoy podcast as well. Deepanshu, thank you so much again for your time. , it was great speaking with you and it was great understanding all of these insights into the web 3.0 space. So thank you so much for your time and I wish you all the best and AssetMantle all the best as well.

Deepanshu:

Thank you Roy thank you for having us and yeah, it was a brilliant conversation.

Deepanshu Tripathi Profile Photo

Deepanshu Tripathi

Founder

Deepanshu Tripathi is the virtuoso and founder of AssetMantle, spearheding the technical side of things. Mr Tripathi is also the co-founder & CTO of the DEFI behemoth 'Persistence.one' who introduced the revolutionary liquid staking called 'pSTAKE'. Before working at 'Persistence.one', he founded the enterprise commodities blockchain solution platform 'Comdex.one', marking the start to his blockchain journey in 2017, prior to which he worked in the traditional financial technology sector at Mahindra Comviva. He completed his undergraduation in btech Comouter Science from Vellore Institute of Technology.

Some info about the project, Deepanshu Tripathi & the AssetMantle journey: https://twitter.com/AssetMantle/status/1521460432178872321 https://www.linkedin.com/in/deepanshutr/ https://linktr.ee/AssetMantle