Sam Kamani

And that's why I'm sure you have seen like the electric capitals report at the end of every year and how our industry changes and evolves.

We have only 30,000 or so developers in this space, full-time developers, 60,000 if we include part-time as well.

But then, I mean, my hope is that hopefully one day we'll have, it won't be Web3, it will be all just development.

And what are some other trends you are seeing in the developer and builder space?

What type of apps or products or chains people are building using Canopy?

Do you have any example?

Are they particularly in any niche?

Are they in like, say, social or are they in finance, institutional finance, DeFi, staking?

I don't know.

What type of products are people building using this?

That does make a lot of sense.

I'm just thinking around like DeFi.

For the developers that you speak with, the builders that you have spoken with, what is their number one challenge or what's their number one problem at the moment?

Absolutely.

Look, all the builders I know in this space, they want to capture value and they are always also mindful about, you know, sending all the value back to the mothership or L1 that they're using.

But at the same time, the L1 wants a reason to provide that service and provide that infrastructure specifically.

So how does your business model work if all the value is just captured by the app player chains or chains built on Canopy and Canopy is providing them with that security?

How does Canopy make money?

Fantastic.

That does make a lot of sense.