Vlad Tenev

But yeah, there's a market mechanism to do that, but nothing forces it automatically.

But what this unlocks for the user is 24-7 trading, which I think is really interesting, because right now what we have is 24-5 in phase one.

And even 24-5 is new.

24-5 is new.

Yeah, we've pioneered that in 2023 with 24-hour market.

So now the last frontier is like Saturdays and holidays, basically, because you can trade from 5 p.m.

Sunday to late Friday.

And then phase three is where things really start to get interesting.

And this is where you can interact directly with the blockchain.

So underlying the token engine is the blockchain, which is where all the tokens are settled and stored.

That's kind of the backbone.

And right now, the only interface to the on-chain transactions is through our front end.

But in phase three,

the tokens leave our walled garden and enter your wallet into the world of DeFi.

So then they become composable.

Yeah, and that might change over time.

But yeah, for now, we control everything.

And we also have Robinhood Chain, which is the chain that's going to be underlying this.

That's in testnet right now with over 100 million transactions.

So it's actually one of the most successful testnet chain launches.