puffer

欢迎大家参与到今天我们的这个空间和活动当中 现在呢看到我们项目方主办方的这个嘉宾们已经到达了现场 那关于之后的几位嘉宾可能在陆续到达的路程当中 我看到你大和这个依依已经在迈上了包括阿米尔 那我们就先开始今天晚上的这场space 然后陆续请各位嘉宾在来到的路上好不好 也非常欢迎所有已经到达房间的听众朋友们 如果今天晚上时间允许和这个嘉宾们还有这个足够精力的话 我们在最后也会开放一到两个位置给大家来进行互动 好不好 那当然了 今天首先要非常感谢就是主办方137Lab和Puffer Finance的邀请 我也是很长的一段时间没有参与到这个space的这个互动和主持当中了 也是时候来充充电学习学习了 因为最近也在忙着就是看项目的这个路程当中 现在非常欢迎大家来到今天晚上的这场活动 我们的主题呢是解码Puffer以太坊restating的这个讨论 那首先呢我们要来简单的介绍一下关于主办方的情况 那137Lab是专注于Web3一级市场研究与投资 那同时呢也在致力于构建全新的Web3的行业综合服务机构 来为项目方投资方以及交易所提供全方位高效和专业的 Web3的营销推广和数据的支持服务 帮助项目在市场当中脱颖而出 那回到今晚的话题当中呢 我们都知道在2024年 那这个从质押到再质押 一定是这个当下最最火热的当红炸子机的赛道和讨论的范围 同时我也相信很多小伙伴应该都有参与或者在观望的这个路上 包括呢其实我了解到Puffer也不是今天 是因为我一个很好的朋友 他也是重仓参与到了这个Puffer的这个再质押 这个活动当中 我们都了解到核心机制呢就是允许质押者将已经质押的ETH 包括各类的LST再次质押在其他协议和BAPP上来参与验证的过程 那这样一来呢第三方的项目也可以再次的享受到ETH主网的安全性 同时呢质押者也能得到更多的收益 同时来实现大家的这个共赢 今天晚上呢我们会围绕主办方Puffer 同时和整个再质押的赛道来进行全方位的探讨和讨论 我们都知道其实Puffer目前获得了非常多的这个圈内顶级机构 比如说Jump, Coinbase, Binance 还有就是包括ETF发行商富达和富兰克林等等著名机构的投资 同时呢主网已经在5月8号上线 所以今天晚上我们非常荣幸的邀请到了Puffer founder 同时还有团队来为我们做分享 就是Puffer在restating方面的一些理念技术和最最重要的就是 接下来的一些新动作和发展的方向 同时还有几位在行业和这个赛道当中 有深度研究和深耕的几位嘉宾来展开多方位的探讨 那接下来呢我们会先邀请已经到场的嘉宾来跟大家打个招呼 当然因为有外国朋友所以非常就是辛苦 还有一位朋友来做这个简单的翻译 首先会有请到来自Puffer的Funding Contributor Amir来跟他打个招呼 请Steven辛苦来做一个翻译 晚上好 好的好的 Hey Amir Can you give us a little bit intro of yourself Of course Thank you for having me and Puffer team today on this AMA I'm one of the funding contributors of Puffer Finance We are building a decentralized and permissionless liquid restaking platform that aims to actually provide the best-in-class security and also best-in-class experience for all of our users Yep Thank you and welcome 请说请说 没有刚才不是要翻译还是你这边直接就说了 这个比较简单 辛苦翻译辛苦 好呀 感谢137Lab还有Nina等等各个主办方的这个邀请 Amir是我们的Core Funding Contributor Puffer是一个Permissionless Liquid Restaking Protocol 是区域中心化的无许可的流动性代值鸭协议 我们致力于提供给NodeTalkBeta和LiquidSeeker 也就是节点运营者和流动性代值鸭协议 可持续的这个收益 同时能够保证整个网络 包括以太坊网络的一个安全 谢谢 谢谢欢迎 Amir也非常感谢Steven的翻译 感谢你们对于Puffer简单的介绍 也很期待接下来的第一个环节当中 来进行更加深度和详细的分析和分享 好不好 那接下来我们继续欢迎一下 已经来到麦上的各位嘉宾 首先我看到了很多的老朋友和好大哥 非常欢迎 Nina 晚上好 晚上好小伙子 感谢这个 感谢Puffer的邀请 那个各位小伙伴大家好 我是弗尔基尼森 然后在推特会做一些搬砖的工作 那主要呢也会搬一些这个链上数据啊 宏观的砖 包括最近也在看一些ETF的数据 那也希望这些搬的砖呢 能够在日常小伙伴的交易中 能够起到一些帮助的作用 好谢谢 是尼大虽然先谦虚啊 称自己为数据搬运工 其实尼大每天做的这些宏观的数据分析 给大家包括我自己也是你的粉丝 带来了很多很多的一些影响 也就是帮助我学习到了很多 在加密圈的知识 非常感谢尼大 接下来呢 就介绍一下也是老朋友了 欢迎独立研究员Jason哥 晚上好 大家好 这个都是很熟悉的朋友 今天的嘉宾 呃我叫陈建Jason 呃是一个独立研究员 平时呢喜欢去对项目做一些 呃分析和解读 呃我这个也非常荣幸啊 能够在很早期的时候去参与 和支持到Plaffer这样一个 这么棒这么优质的项目 成为一个贡献者 然后今天也是期待能够 大家一起去呃共同挖掘 看Plaffer还有哪些 更多值得让大家去期待的事情 呃谢谢大家 是的 看到Jason哥在自己的推特当中 其实对Plaffer也是有了一些 自己的见解和分析 所以接下来也非常期待 Jason哥的分享 好那接下来我们继续欢迎 来自试炼投研资深投研员 Elma晚上好 大家好大家好 非常荣幸来到 今晚的AMA 然后我是试炼的一个资深投研员 平时专注于一级还有二级的 呃投资研究 呃那也是因为写了一份研报 才呃被邀请到这AMA 真的非常的荣幸 然后今晚也希望在这AMA里面 呃能得到一些 更多关于Plaffer 还有Ristick未来的一些感想 谢谢 非常期待Elma的分享 接下来我们继续欢迎来自 Found of Godot Lab Ming Wang晚上好 晚上好晚上好 就是很荣幸 这个参与这个讨论 只要是这个这个话题 我是主要是来进行学习的 我研究的也不多 非常谦虚 其实我相信 呃很多朋友应该和我的想法一样 其实我就是想来听听 还有接下来还有什么 就是非常值得我们期待 和惊喜的一些动作啊 想来听听财富密码 非常感谢期待你的分享 好接下来我们继续欢迎 来自AMT Capital合伙人 Lan晚上好 Hello我是Ian 然后这个对我们在MT 实际上是一个新的 比较活跃的基金吧 然后主要投是一个是 Massive Adoption 就是社交跟游戏的 举动运行应用 一方面是这块 然后另外一块呢 就是我们Deepin 可能会看的比较多 然后当然就是Restaking 然后这一块我们也有看过 但是这个应该主要在一级 我这边主要一级 所以主要是去年的时候 看这边会比较多 谢谢 好的期待您在这个 擅长领域当中给我们带来 更多深度的解析 非常欢迎Ian 那接下来的第一个 这个部分呢 我们会先请几位 就是大咖稍作休息 因为我们主要会请 来自Proper团队的Amir 来做一些深度的分享和 这个分析 所以听众朋友们 大家认真的听了好不好 那么首先会来 第一个话题 我们都知道Proper 现在作为Restaking赛道 肯定是非常火热的一个项目 那不管是质押的 这个以太坊的数量 和TVL的表现 都是非常的亮眼 同时也得到了非常多 像我刚开场讲到 顶级机构的一些投资 那我们想知道Proper 现在就是能做到这样一个 成功的原因在哪里 想请Amir来给我们 做一个深度的分享 我先来做个简介 好的 所以Amir 这是你第一个问题 作为Restaking市场的 领导项目 Proper已经购买了 超过450亿以太坊 和TVL近1.4亿 它也获得了 个人赞助和投资 来自许多的 货币组织 包括Denance Hospitality Franklin Taplinton Coinbase 还有其他 所以Proper的原因 在哪里 到目前为止 当然 一开始 就像我刚才提到的 我们是 打算制作 最佳领域领域 领域领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 领域领域 this mechanism design that we implemented within Puffer. Our goal was to actually create a platform that enables staking and restaking for everyone, meaning that any user can permissionlessly participate and therefore decentralize the network forever. This decentralization of the base Ethereum staking layer actually enables many great features once it comes down to securing AVSs and securing many other restaking platforms that actually generate more rewards for the users as well. And I believe these unique approaches in architecture have set us apart from any other LRT which more or so have exact same architectures and implementations rather just under different brand names have set us aside and have created a lot of interest from institutional folks and from the investors that also do believe in that vision of creating a long-term successful project. And that is why we have this much support. Okay, I'm going to do the translation. As Amir just mentioned, the main goal of Puppet is to build a first-class base layer for the entire network of Ethereum. In fact, the whole trend of Puppet is not limited to restaking. If we talk about a specific goal, it is to provide a secure infrastructure and a safe restaking and verification platform for the users of Ethereum and the restaking users so that more and more restaking users can participate in the Ethereum verification and the restaking market at the same time. At the moment, Puppet's unique architecture is based on a secure center that is supported by a hardware and at the same time, it is a combination of the economic security of Ethereum and the restaking to provide users with a relatively low risk and at the same time, a relatively low entry threshold and a relatively high security liquidity on such a platform. So Puppet and other liquidity platforms are different in that any blockchain operators, such as SolarSeeker, PocomSeeker, or any blockchain operators can join Puppet's node set to provide security for Ethereum and at the same time, provide security support for ABS. This is why Puppet can attract a large number of tokens before it goes online. At the same time, this is also why we can see a lot of big institutions and industry giants supporting Puppet in our recent successful financing group. Okay. Thank you, Brian. Thank you, Emiya and Steven for the introduction of Puppet. We just heard that Puppet's goal is to become the first tier of the Ethereum network. You also mentioned that more participants participated in the verification through the low-threshold method. Speaking of low-threshold, the second very important topic is that we want to know how Puppet can achieve a node operator that only needs one ETH to reduce the hard threshold of 32 ETH to expand the scope of Ethereum participants. At the same time, Puppet is improving the centralization and security of Ethereum, asset security, and increase the profitability. How does Puppet achieve this balance? Okay. Emiya, that is the second question to you. How does Puppet achieve the goal of requiring only one ETH to become a mainnet node operator, thereby lowering the 32 ETH barrier and extending the range of the Ethereum participants? How does Puppet balance between improving Ethereum staking decentralization and ensuring asset security while also maximizing liquid staking and node operators' yields? Of course. Enabling permissionless staking and restaking platform is actually not an easy task. A lot of protocols have tried it for a year in the past in the last cycle, in the last year, and they haven't been able to do it. One of the reasons our launch on mainnet was much different than other protocols as well was that it takes a very long time to create such platform that both node operators and stakers can permissionlessly join. In order to maybe think about it in a way if you think of other protocols like RocketPool, oftentimes have 8 ETH bond, very high bond requirement for permissionless participation. But at Puffer, we were able to bring it down to 1 ETH bond. And that's what actually made our protocol very exciting and we got a lot of pre-mainnet campaign deposits during this launch. But let me actually talk about what makes it enable to actually, what are the challenges that we have to solve for to actually lower the bond and what we did. So traditionally, lazy nodes are a pain point for Ethereum staking. It means that if they sometimes go online, they sometimes go offline, they can end up actually losing or crossing at the opportunity cost of the users actually not generate as much rewards as they can for users. Another big issue is MEV stealing. By lowering the bond, if the node operators get an MEV block that is larger than their bond, they're not incentivized to steal it. And last but not least, it's the big risk of slashing. If you're making anyone running a node that we don't necessarily trust or we don't necessarily think that they're professional enough to run a node, actually, they might get slashed. That's where we created many solutions around, validator tickets that are solving for lazy node operators and also the MEV stealing, but also we created hardware secure modules for anti-slashers. Currently, our anti-slasher module that enables the 1-Eth bond is not live. We are planning on going live with that very soon. Therefore, we are having a 2-Eth bond option enabled. And last but not least, people might ask why not to use it lower than 2-Eth bond or 1-Eth bond. Economic security is always very important in securing any protocol on the blockchain. And that is why we need to make sure in a permissionless setting, all the nodes are bonded and therefore can guarantee that in case of anything bad happening, the stakers are not actually losing any money. Got it. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. So I'm going to do the translation. 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That is the third question to you, Amir. So as we all know that our mainnet has launched last week. So with our Puffer mainnet launch, so what new changes can be expected in Puffer's secure center and inflation measures and the native liquidity risk taking? And also, what kind of the influence or the impact will the Puffer's mainnet launch have on the company, right? Yeah. Okay. I've lost you for the last bit, but I suppose like, can you repeat the last bit? Was it like what impact the Puffer's mainnet can have on risk taking? On the risk taking market. Great, yes. So current Puffer mainnet actually marks the launch of native liquid risk taking on Puffer. This means that all that SDE that has been predeposited into Puffer as an effort in a decentralization campaign is going to be converted to ETH and staked with permissionless Puffer nodes. With native risk taking live, actually stakers can now start taking advantage of the AVS rewards that are upcoming in the future months. This is something that is getting rolled out over time at Puffer after mainnet launch. The anti-slashing and safe key management are going to not only secure the base layer of staking for both node operators and users, but we are also working to provide anti-slashing solutions for the AVSs themselves as well. And therefore, reducing the risk of the entire protocol by a lot. Currently, there is, however, no slashing live on AVSs, so we will try to maximize users' exposure to the rewards and use cases. And slashing is going to go live perhaps by the end of the year. More interestingly, Puffer is planning to spin up our own AVSs to actually provide higher rewards and further expand the users' basically rewards specifically on Puffer only by taking advantage of our research background. And of course, we didn't forget about our campaign as well. And very soon, our Chapter 4 will be launched that gives not only a refreshing look to our campaign, but has very interesting activities that users can take advantage of. Okay, I'm going to do the translation. So when it comes to Puffer's mainnet being launched, I don't know, because there may be a lot of users here who have stored their assets in Puffer. So maybe you don't really notice that Puffer's mainnet has never been launched. This means that you may have noticed that the assets you have stored before are actually SEDH and WSEDH. So we're going to put SEDH and WSEDH into Echelon Layer to split Echelon Layer's fundamentals and Puffer's fundamentals at the same time. So if Puffer's mainnet is launched, it actually means that Puffer's mainnet is actually launching its own liquidity-based approach. So what you get in the future, whether it's the benefits of POS validation or the benefits of AVS operation, all come from the profits of Puffer's NOSDAQ. So this is the mainnet being launched. In addition, as mentioned, our goal is to help Ethereum decentralize and maintain the credibility of Ethereum. At the same time, we used to store SEDH and WSEDH assets. Now that the mainnet has been launched, we're also making a commitment that we're going to convert all the SEDH and WSEDH assets we've taken in into Echelon Layer, and then put these Echelon Layer's fundamentals back into Echelon Layer to implement AVS operation and POS validation. This is something that needs special attention. In addition, with the launch of our mainnet, another part of risk-taking has also been mentioned. In the future, we will provide more financial security to AVS and provide them with validation services so that both Puffer and NOSDAQ will get the benefits of POS validation and the benefits of risk-taking. In addition, as mentioned, anti-slashing or secure signer technology can be used against FAMO. When the mainnet was launched, we did a test with Nethernet Browser. Because there are a lot of technical challenges and some feedback from previous tests, when the mainnet was launched, we didn't start secure signer technology. So now we need two solutions. The first one is to ensure that this technology can be combined with the setup of Notorpeter in a relatively safe way. In this way, when the mainnet is launched in the next phase, we will launch anti-slashing or secure signer technology. One more thing. Currently, in the case of risk-taking AVS, I would like to add something. I have been mentioning how important anti-slashing is. In fact, POS has mentioned that there is anti-slashing, which is FAMO. Everyone may lose this button. In the case of risk-taking, everyone provides validation. Naturally, when AVS provides validation, it also has its own FAMO mechanism. With the support of Powerful Secure Signer technology, in fact, after the real FAMO mechanism is established, it will be more reflective of how to really help users protect their own BOM's asset security and make a profit at the same time. This is actually very meaningful. This is an addition. In the end, we also mentioned that Powerful also wants to provide its own AVS in the future to provide more sustainable and high-profit incentives to liquidity providers and node operators. In fact, I also want to add something. In fact, for the current stage of risk-taking, this is my personal opinion. As for the risk-taking protocol, there is an asset. That is to say, in terms of potential, there is an economic asset that provides economic security. So the next step is to select the best AVS. So what kind of AVS can really run in the next round or in the next period of time? This also determines whether a trend like risk-taking can survive for a long time. This is one of the important reasons or motivations. Powerful has a very deep technical foundation and knows very well, for example, what kind of services they want to do with the second-layer rollup, especially decentralized services. So in the future, we will probably launch our own AVS and combine our own strong and powerful, very solid technical support and technical background to fully enhance and truly and sustainably enhance the experience of the AVS stake and the operator. Okay, that's about it. Thank you. Thank you very much, Miao. Thank you, Steven, for this session. It's been a lot of work. You have analyzed a lot and answered a lot of key questions and content, including what you are doing now, including what you will do in the future after the main network is launched. You just mentioned the main network is launched. The next topic is also a topical issue that everyone is very concerned about, which is the launch time of Power Tokens. In addition to the GRs, what are the ways to obtain the amount? At the same time, everyone also wants to know what kind of effect or side effects are there between Power projects and tokens? Okay, so that is the fourth question to you, Amir. So when our governance token TGE and apart from the staking, what other methods are available to obtain the Power governance tokens? How does the Power project and also the token mutually empower each other? Of course. So, as you know, like any decentralized blockchain project, it needs its own token for governance to eventually actually decentralize the decision making and ultimately have the project being community-led. That's why we think that token is very valuable to have within any project. Currently, we haven't officially announced any timeline, but you can expect it to be very soon. These tokens, these governance tokens, are going to play an important role in deciding which AVSs get onboarded to Puffer, deciding which restaking operators are going to run these AVSs within Puffer, and they're going to actually decide on a lot of incentive and fee structure within Puffer itself. For specific design that can be very valuable to the users itself, we're thinking of a potential like either a VE token, voted escrow, or voted lock model that can actually make their experience much better and actually enhance the protocol security and decision making. Okay, got it. So, as Amir mentioned, for all Web3 or crypto projects or all decentralized projects, tokens are very, very important. Basically, decentralized online governance is carried out through the distribution and governance of tokens. So, for Puffer, this token is very necessary. As for when TGE... Actually, we don't have a specific timeline yet, but it should be announced very soon. Since we're already online, and some of the subsequent campaigns have been mentioned. Oh, yes, campaigns. Sorry, let me add something. In the last question, Amir mentioned that our Chapter 4 campaign is about to start. So, this Chapter 4 campaign is different from many other staking or risk-taking protocols. Not only can it provide more so-called points to Puffer, but also more real gains. For now, I don't want to go into too much detail. We'll have to wait for the official announcement. This is the last thing I want to add. As mentioned earlier, Puffer protocol still has a lot of applications. So, there are two points. For example, we have to decide... As mentioned earlier, is the ABS technology solid enough? Is the ABS technology solid enough? Is it enough to run for a long time? And will there be any real applications that allow these risk-taking non-profits to do ABS operations and verify their services to get real gains? This is a series of questions. So, being able to choose and support high-quality ABS is actually one of the most important goals of the risk-taking protocol protocol agreement. So, one of the main application scenarios of the governance token is how to effectively delete and select ABS on board. We provide economic security to verify. This is actually quite important. In addition, there are many risk-taking non-profits in Puffer. Because we are a permissionless risk-taking protocol, regardless of the size of the non-profit, small or large, there is a lot of power in the non-profit. And there is a lot of influence. So, the technology is very, very good. And being able to accompany the Puffer protocol for a long time, the choice of not-all-better, we will also achieve this through the governance token. In the end, Amir also mentioned the token model itself. So, in terms of design, we will also consider the VE model that many mainstream tokens are currently designing. It may allow users who have or have governance tokens to have more linking scenarios to help them or their partners to help Puffer go further and make more profits. That's all. Thank you, Amir. Thank you, Stephen, for sharing in this session. It seems that the deadline is not finalized yet, but it sounds like a good thing is coming. So, if you want to know more information, remember to check out Puffer's official account. It's also online. At the same time, you can also pay attention to Amir and Stephen. I believe that the next steps will also be updated to the account at the same time. Okay, next, we will move on to the last topic of the Puffer project. Will Puffer be deployed more in the future? What is the next roadmap? Let's have a brief discussion. Okay, so that is the last question to you, Amir. So, what about the Puffer's multiple chain? The strategy. What are the latest or the updated roadmap looks like for Puffer? Yes, we're actually working on enabling solutions for native minting of Puffer on L2s. It is important to actually enable this for users to actually save on a lot of the higher gas costs of the L1 itself. We're actually also having very interesting upgrades that we're doing to the protocol itself that ties its activities to an L2. Actually, more information on that will be released soon and we will make announcements on where that direction is going. But that one is going to be actually happening very soon. Yeah, okay. As Amir just mentioned, it is very necessary for the integration of L2s. We are working on a collaboration with multiple chain L2s to actually realize native minting on L2s. In other words, if you have a L2, you can directly do native minting on L2s. If you have a L2, you can do native minting on L2s through the Puffer protocol. This is the first point. Because on L2s, users can do minting on L2s with relatively low gas costs. Actually, this is quite meaningful for users themselves. We're working on it. Another thing is that Puffer has a structural design. Because for Puffer, we are not only connecting the LiquidStaker itself, but also a large group of not-all-placers. How do we get not-all-placers to join the Puffer not-all-placers set with relatively low gas costs? This also determines the extent to which Ethereum will be decentralized in the future. So, overall, on the not-all-placers side, there are some unique designs that can allow not-all-placers to have relatively low costs, and it is easier to recover the risk-taking rewards to their own protocols, and so on. Such a technology innovation will be announced more in the future. In this regard, I might add a little more. The first point is that recently, Chapter 4 mentioned a new point design campaign. More protocols will be added to our Chapter 4 campaign. We will make a more detailed announcement in the next few days. This is the first point. The second point is that we will also hold a meeting with the Squirrel Foundation, Pencil, and Trust Wallet to launch a campaign to stimulate the Puppet Holders. This will be announced in the next week or so. I believe that by then, more activities will be added to allow all Liquid Stakers to learn more about different protocols and gain more points and profits in different protocols. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. 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Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. 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Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. 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