I do think thats ultimately where most of liquidity will live, Adams said. A Uniswap LPs ability to earn funds passively is striking not only because it allows Uniswap to function, but also because of the larger implications for token holders who become part of an exchanges daily operations via the smallest of thresholds. Barry Silbert Source: Digital Currency Group Net-worth: $3.2 billion11. In a tweet, Grey said the protocol holds $30.6 million worth of multiple assets, diversified across Ethereum, Wrapped BTC (WBTC), stablecoins, and more. But,given the rise in usage, the market continues to impress the importance of these questions. Everything will be settled on Ethereum. From a perspective of I don't know what I'm going to do with my life, it was scary at the time. Uniswap has 1 current employee profile, Founder & CEO Hayden Adams. Hayden Adams This was after he was laid off by tech giant Siemens, which was, according to him, The best thing that ever happened to me. . Some investors prefer trusted parties to hold funds. Here, Floersch stepped in again, introducing Adams to the concept of a decentralized exchange. Or, how does liquidity provisioning stand up against merely holding the same digital asset but not placing it in Uniswaps pools? What Uniswaps smart contract does, among other things, is bring unparalleled access to the inside mechanics of crypto exchanges. Hayden Adams took a $65,000 grant and turned it into a $2 billion protocol; no other developer has come close to that. One way to think about it is, if a pair is earning a thousand dollars in It can get about 30 basis points out of whack without any negative impact because the fee is 30 basis points to take there," Weisberger said. more Claim Embed. Although it isn't the most direct way to interact with crypto, JPMorgan Chase closing Adams' bank accounts hints that it's targeting large-scale crypto pundits. The price will basically stay flat for a period of time while other markets have moved. In fact, the project, begun in the lulls of his unemployment, broke Coinbases daily trading volume in September for the first time in DeFis own flippening.. When you combine market swings with trading, you get arbitrage opportunities. And forays into the math and accompanying commentary only reveal how deep the barrel is from which Noyes is pulling questions. Source: A video screenshot, Youtube/Fluidity Hayden Adams, the creator of major decentralized exchange Uniswap, said that American banking giant JPMorgan Chase closed his banking accounts with no notice or explanation. I know many individuals and companies who have been similarly targeted simply for working in the crypto industry. Gary Wang Source: FTX Net-worth: $5.9 billion5. Chiefly, AMMs like Uniswap have liquidity at every price. It wasnt bad work, particularly compared to modeling car efficiencies at Siemens: Programming with money is just really fun, he said. If you were to ask me a year ago when Uniswap was going to report more volume for a single day of Coinbase, I would probably say 2021. It is useful for traders and functions particularily well as a component of other smart contracts which require guaranteed on-chain liquidity. Buterins article was sent to Adams by Karl Floersch in the fall of 2017 and would become his first project. Centralized exchanges will potentially become custodial interfaces to decentralized platforms, he said. It's a protocol for automated exchange of ERC20 tokens on Ethereum. Prior to Uniswap, Adams was an engineer at Siemens. 1 phone number found . For example, whats toxic flow? It also didnt help that SushiSwaps pseudonymous chef absconded with (and then returned) a founders reward of SUSHI tokens worth $13 million. Uniswap works the following way: Investors deposit equal amounts in value of tokens into the dapps contracts. In my opinion, there is an iron law of markets that the cost of trades and the spread is going to be a function of adverse selection, Bonen said. ------. "banks today: NO PUBLIC BLOCKCHAINS DEFI BAD banks soon: HEY WE FOKRED ETHEREUM BUT WE CONTROL AND ADDED A STABLECOIN BUT WE CONTROL IT AND FORKED UNISWAP BUT WE CONTROL IT PLEASE USE JPMORGANCHAIN" Uniswap Price Live Data. For instance, whats the optimal fee to charge for a trade on Uniswap? He said AMMs will continue to have a market as long as they can outperform centralized exchange quotes, but that any market set by a curve will suffer from inherent problems centralized order books will not. Related Investments Aliases N/A. The first version of Uniswap was launched on the last day of the Devcon 4 conference, with only $30,000 worth of initial liquidity across 3 tokens. His tenacity and clearness of vision are an inspiration to me and to countless crypto founders that Ive spoken to, Robinson said. On Sunday, Polygon's Mudit Gupta flagged that GoETH were trading for $0.69 each. That is until Chef Nomi, the pseudonymous cofounder of SushiSwap, reared his or her head this past September. Uniswap works the following way: Investors deposit equal amounts in value of tokens into the dapps contracts. To Uniswap went the spoils: Since the turf war, Uniswaps TVL has not dipped below $1 billion and broke $3 billion for numerous days in November. Roham Gharegozlou Source: Dapper Labs Net-worth: $200 million62. Hayden Adams: King of the DeFi Degens - CoinDesk Consensus Magazine Learn Bitcoin Calculator Consensus Webinars Indices About Markets Finance Technology Web3 Policy Sponsored Content Upcoming. Prior to Uniswap, Hayden was an engineer at Siemens. His code proves a decentralized exchange (DEX) is not only possible but more than capable of matching heavyweight competitors like Coinbase pound for pound. After being laid off from his junior engineering position at Siemens and living at home with his parents, a career opportunity came knocking: Uniswap,the permissionless token exchange built on the Ethereum blockchain. Related Markets N/A. Uniswap is a decentralized cryptocurrency exchange that uses a set of smart contracts (liquidity pools) to execute trades on its exchange. Hayden Adams started his career at Siemens as a car engineer working on computational fluid dynamics but was let go after only a year.From a perspective of I dont know what Im going to do with my life, it was scary at the time. Noyes questions, to the uninformed, are hardly intelligible. Uniswaps dependency on outside forces to set market prices forces LPs to eat bad trades. Bonen further simplified Uniswaps problem to an AMMs properties being open and therefore gamable. Its impermanent because LPs typically dont remove funds from a pool actively they are more often than not passive investors and so the price of the token could recover. In a ETH/UNI pool, ETH is priced in UNI and UNI is priced in ETH. Hayden Adams also had moved Uniswap from Solidity to Vyper, a programming language purpose-built for Ethereum smart contracts. Inspired by this idea, Hayden Adams, a former mechanical engineer who lost his job at Siemens, decided to start working on implementing it in October 2017. . Interestingly, Uniswap was one of the first projects built on Vyper, which he presented at 2018s EdCon in Toronto. What financial advisors need to know about crypto. The protocol uses a formula for automatic exchange and is one of the most widely used AMMs today. Andreas Antonopoulos Source: Bitcoin Evangelist Net-worth: $50 million91. Facebook; Twitter . The NFT of the art below, by, https://www.paradigm.xyz/open-problems/index.html. But you probably know it as the first decentralized exchange to successfully embrace the Automated Market Maker (AMM) liquidity provision protocol. Uniswap reached its highest price on May 3, 2021 when it was trading at its all-time high of $ 44.93, while Uniswap's lowest price was . Met 2022 waar die mark na die bere leun, wat kan ons vorentoe van Uniswap verwag? Hayden Adams, the author of the Uniswap protocol, is a soft-spoken developer, . After being laid off from his junior engineering position at Siemens and living at home with his parents, a career opportunity came knocking: Uniswap, the permissionless token exchange built on the Ethereum blockchain. Disclosure: This reporter holds a small allocation of UNI tokens. Created in 2018 by Hayden Adams, it was inspired to take on the project after Vitalik Buterin (co-founder of Ethereum) first described the underlying technology in a forum. Please enter your email address. Market Realist is a registered trademark. Uniswap founder Hayden Adams tweeted Sunday that JPMorgan Chase has closed his bank accounts without notice or explanation. Hayden Adams is Founder at Uniswap. Check out Uniswap's net worth in US Dollar Feb, 2023. I was getting very into Ethereum and from that perspective it was a really great thing, Adams said. Hayden Adams, the founder of Uniswap, shared data showing that users traded $1.5M worth of GoETH over 24 hours. CoinDesk journalists are not allowed to purchase stock outright in DCG. 59 - Uniswap | Hayden Adams Bankless Shows 196K subscribers 32K views 1 year ago Bankless Podcast Hayden Adams is the inventor of Uniswap, the decentralized trading protocol. During a conversation with him, Adams brought up Uniswap and shared its smart contracts with Buterin. 1 phone number found . This article is part of CoinDesk's Most Influential 2020 a list of impactful people in crypto chosen by readers and staff. This article is part of CoinDesks . Of course, hes pretty bullish on decentralization: I basically believe that decentralized infrastructure will be the underlying thing for everything. Yet, through his protocol, he may in fact be King of the DeFi Degens. Everything is happening a lot faster than my predictions would have been a year ago.. Bringing Web3 to Everyone. Why did JPMorgan Chase close Adams' accounts? Its impermanent because LPs typically dont remove funds from a pool actively they are more often than not passive investors and so the price of the token could recover. Uniswap is a decentralized application, or dapp, built on the Ethereum blockchain. | Hayden Adams is the founder of Uniswap, one of the most widely used decentralized applications built on Ethereum. Some 200 teams are currently building different projects leveraging Uniswap as a base layer, he said, such as for margin trading. As Noyes writes, it mainly has to do with figuring out how to price liquidity provisioning. Are large banks starting to target high-profile people in the crypto industry? Hayden Adams, creator of the Uniswap protocol, is a soft-spoken developer, first dragged into cryptocurrency less so for the money than the opportunity to make something of himself. All Ethereum projects can be found first in a Vitalik Buterin blog post or so it seems like from outside looking in. Your email address will not be published. Even as they grow, . Hayden Adams made the concept a reality with some help from the ETH community. Hayden adams net worth. Everything is happening a lot faster than my predictions would have been a year ago.. Source:. Hayden Adams, the creator of the Uniswap protocol, is a soft-spoken developer, first dragged into cryptocurrency less so for the money than the opportunity to make something of himself. Uniswap price markets are largely flat until the arbitrage opportunity from a trade surpasses the fee and cost of execution on Ethereum. Youre going to have decentralized infrastructure at the center. In January 2021, the metric stood at less than 1 million users. Indeed, Uniswaps unique offering has been a central topic to traders since it exploded in popularity this summer. Those few pools matter, though. What Uniswaps smart contract does, among other things, is bring unparalleled access to the inside mechanics of crypto exchanges. Be a smarter, safer investor in eight weeks. 10 free leads on us . Son Chi-hyung Source: Upbit Net-worth: $3.7 billion10. "Thanks for making it a personal." Adams' bank accounts were closed last week. It remains unknown how Uniswap can fit into an average persons portfolio much more so than adding crypto to a portfolio, of course. Or, how does liquidity provisioning stand up against merely holding the same digital asset but not placing it in Uniswaps pools? On May 9, 2019, we welcomed companies and teams to help shape the narrative of rebuilding finance at the historic Williamsburgh Savings Bank in Brooklyn, New York. Hayden Adams . Charlie Shrem Source: Bitcoin Investor Net-worth: $60 million89. Funnily enough, Uniswaps creators are still trying to figure out exactly why passive market making on Uniswap works. Still, he envisions a future where traders use Coinbase to trade for tokens but Coinbase uses Uniswap. The bid and the ask are always the same at a given time, unlike on traditional exchanges. There, Floersch became interested in Ethereum and quickly entered the crypto world after graduating. This version came with initial liquidity of $30k distributed among 3 pairs of tokens, enough to make the protocol . Then he lured away capital from Uniswap to SushiSwap by offering higher returns to liquidity providers (LPs) in what is now called vampire mining.. You can switch to other chains with a single click. Uniswaps founder Hayden Adams discussed Shkreli after the Twitter Spaces topic started to trend on social media. Competition with SushiSwap and the subsequent UNI airdrop pushed Uniswap to new levels of popularity. Merz: Bitcoin, Ethereum, Cardano, Uniswap, an Theta 26. Buterins article was sent to Adams by Karl Floersch in 2017 who worked at Ethereum at the time. He hosted his own daytime talk show, The John Walsh Show and also helped the family were a teen, Natalee Holloway was missing, as critical of the Aruban crime investigation with another TV star Dr. They also give more flexibility for preempting market conditions and allowing traders to set bids at different levels. By checking this box I consent to the use of my information provided for email marketing purposes. Since May, his projects total value under lock (TVL), or the dollar value of tokens locked in the smart contract of a given decentralized lending project, is up some 3,500%, from $35 million to $1.3 billion. It was a very weird time. In 2018, Hayden and his team launched Uniswap during DevCon 4, a decentralized cryptocurrency exchange that is now one of the most popular in the world. All Rights Reserved. All Rights Reserved. (Some years later, Bancor seems to have lost the AMM race, with Nomics reporting $1.23 million in 24-hour volume on Dec. 7, compared to Uniswaps $309 million). He said AMMs will continue to have a market as long as they can outperform centralized exchange quotes, but that any market set by a curve will suffer from inherent problems centralized order books will not. Uniswap is a decentralized application, or dapp, built on the Ethereum blockchain. Because it is Ethereum-based, Uniswap is fully-compatible with all ERC-20 tokens and other Ethereum infrastructures such as wallet services like MetaMask and MyEtherWallet. Putting a sticker tag on liquidity provisioning is dependent on a new phrase in the crypto lexicon, that being "impermanent loss." In a salvo back, Uniwap issued its own token, UNI, in what amounted to cryptos own stimulus check. Hayden Adams is the creator of Uniswap. When I built the Uniswap Protocol in 2018, it was an experiment to see if I could create something that fully embodied the values of Ethereum: transparent, secure, and accessible. On January 23, 2022, Adams tweeted that his bank accounts with JPMorgan Chase were closed for no apparent reason. READ MORE: The story behind Tim Draper: What is the early Bitcoin adopter's net worth? Adams and Floersch attended Stony Brook University in New York, an education Floersch described as good enough to get the job done. I was getting very into Ethereum and from that perspective it was a really great thing, Adams said. In a few keystrokes, Adams not only won the AMM liquidity wars, he became everyones favorite cryptocurrency developer. Impermanent loss attempts to measure the price loss an LP takes when a token price moves against the holder in a pool. Uniswap is a decentralized or Dapp application built on the Ethereum network. 12 lessons on building for web3 from crypto's #1 DEX. Hayden Adams, creator of the Uniswap protocol, is a soft-spoken developer, first dragged into cryptocurrency less so for the money than the opportunity to make something of himself. Anyone can become a market maker on Uniswap with a few tokens and get a cut of the action. Walsh launched Americas Most Wanted in 1988 after dealing with Fox. Hayden Adams is founder of Uniswap, one of the most widely used decentralized applications built on Ethereum and it is currently the world leading DeFi DEX. Uniswap History: Uniswap was created on November 2, 2018 by Hayden Adams, a former mechanical engineer at Siemens. Projenin kurucusu Hayden Adams kimdir? Bridging the Gap 03/03 GM Bridgoors, you know what time it is! That doesnt mean its all smooth sailing. Eric Young Source: NFT Collector Net-worth: $50 million95. And forays into the math and accompanying commentary only reveal how deep the barrel is from which Noyes is pulling questions. He also receives another $2.25 million annually in other bonuses. Uniswap, which is headquartered in New York City, United States, was founded in October 2017 by Hayden Adams. Then he lured away capital from Uniswap to SushiSwap by offering higher returns to liquidity providers (LPs) in what is now called vampire mining.. Three years later, he is the face behind the most trafficked Ethereum dapp. This week @jpmorgan @Chase closed my bank accounts with no notice or explanation I know many individuals and companies who have been similarly targeted simply for working in the crypto industry Thanks for making it a personal. Hayden Adams is founder of Uniswap, one of the most widely used decentralized applications built on Ethereum and it is currently the world leading DeFi DEX. While a Harvard Law student-led initiative called the Defi Education Fund is facing blowback for receiving $20 million worth of Uniswaps (UNI) tokens and dumping half of it over-the-counter, some witty DeFi enthusiasts are openly mocking the whole ordeal. Hayden Adams story, then, isnt too distant from many who enter the cryptocurrency space and hit it big. In a few keystrokes, Adams not only won the AMM liquidity wars, he became everyones favorite cryptocurrency developer. SushiSwap, een populaire multichain gedecentraliseerde wijziging (DEX), verbrandt jaarlijks ongeveer $ 5 miljoen, onthulde de chef-kok, Jared Gray, op 28 februari. (Balance is now the Ethereum wallet Rainbow). Export. Noyes, Paradigm and developers like Adams are mostly focused on the idea that markets can enfranchise retail traders by making them part of the game. According to Adams, others who work in the crypto industry have also been targeted. In 2018, ShapeShift founder Eric Voorhees had his JPMorgan account closed. Uniswaps value proposition as an exchange feeds upon Ethereum and vice versa: Ethereum is a blockchain for decentralized applications, especially for launching your own token, while Uniswap is an exchange for those tokens. Exchanges such as Coinbase are even looking at adding similar pools. Hayden Adams, the creator of the Uniswap protocol, is a soft-spoken developer, first dragged into cryptocurrency less so for the money than the opportunity to make something of himself. Hayden Adams, the effect of the formation, claims to be the creator of the concept's unique embodiment on Uniswap. You obtain from a loan 100 units of Uniswap, with a total value of $ 5,000 (these numbers are fictional) You sell the 100 units and earn $ 5,000 The price is reduced, as you thought, and the unit of Uniswap goes from $ 50 to $ 30 You get the 100 units again, but at $ 3,000 You pay back the 100 units to the loaner Vitalik Buterin, Ethereums co-founder, conceived the technology that led to its development. These were the properties I cared about: It was censorship resistant. He holds American nationality and has his belief in Christian religion. A Stony Brook University grad, Adams worked for a year as an analyst at manufacturing giant Siemens doing heat flow simulations. In 2016 and 2017, decentralized exchanges were even more so in their infancy than now, with Adams pointing to EtherDelta as the best such platform. Since then, it has grown and evolved in ways I never imagined. Executive Management. Nov 5, 2019 We're excited to release a new and improved Uniswap.info We're excited to release a new and improved Uniswap.info with more. In a ETH/UNI pool, ETH is priced in UNI and UNI is priced in ETH. Top Forex Traders and their Characteristics, What Are The Golden Rules Of Forex Trading? Spurred on by the curiosities of cryptocurrency, Adams went from unemployed and directionless to a programmer within months. John featured this case on Americas Most Wanted several times. In mid-October, Paradigm partner and quantitative analyst Charlie Noyes spit out a new blog describing three problems he and Paradigm have yet to answer about Uniswap a project in which they hold a significant stake. Uniswap Executive Team & Key Decision Makers. If you ran a centralized exchange, what would you do to stop the bleeding to decentralized exchanges? Still, its good enough at $1.33 billion TVL to net fifth place, according to DeFi Pulse. Adams expects Uniswap to continue sucking up spare liquidity driven by AMM incentives while other parties begin building on top of Uniswap itself. Uniswap price today is $ 6.85 with a 24-hour trading volume of $ 534.15M, market cap of $ 5.22B, and market dominance of 0.48%. Theme: Newsup by Themeansar. Lin Han Source: gate.io Net-worth: $350 million53. This can be seen actively in markets, Weisberger told CoinDesk. It can get about 30 basis points out of whack without any negative impact because the fee is 30 basis points to take there, Weisberger said. The only thing that stands between an LP and impermanent loss is the 30 bps fee reserved for LPs for every Uniswap trade. Haydens remarkable story is something that couldnt have happened outside of Ethereum and the DeFi ecosystem, which have dramatically lowered the cost of implementing world-changing ideas like Uniswap, Paradigm researcher Dan Robinson said in a Telegram message. Uniswap was founded to give liquidity and hence trade, and the benefits that exchanging brings to the DeFi community. Faqs. At Vista Wearables, He was responsible for designing, modeling, and rapid prototyping a wearable device that assists visually impaired individuals. Javier Sim Source: Bithumb Net-worth: $50 million90. Funnily enough, Uniswaps creators are still trying to figure out exactly why passive market making on Uniswap works. (Its name was originally going to be Unipeg, Adams wrote in a Uniswap history blog. Born on 4 April 2005, Hayden Summeralls age is 17 Years Old as of 2022. Specifically, he received various grants including a $100,000 grant from the Ethereum Foundation. Anthony Pompliano Source: Crypto Investor Net-worth: $200 million61. Anyone can become a market maker on Uniswap with a few tokens and get a cut of the action. Hayden Adams @haydenzadams 7 Dec 2020 1/ A maker governance proposal was just put forward voting to add DAI-ETH and USDC-ETH Uniswap liquidity tokens as collateral This would allow Uniswap LPs to a) increase the capital efficiency of their liquidity or even b) modify their exposure in a meaningful way. Roboforex Review: Can Roboforex Be Trusted? The blogs questions mostly consider the dynamics of providing liquidity to Uniswap and what trade-offs exist. Executive. 2023 Forbes Media LLC. Second, he learned to code while living at his parents house. Hayden Adams, the effect of the formation, claims to be the creator of the concept's unique embodiment on Uniswap. Uniswap is as much a product of Adams hours as it is the greater Ethereum ecosystem, he said. CCTV-13 concluded by warning about the risks of financial fraud on cryptocurrency platforms such as Uniswap. Hayden Adams, Uniswap Labs founder and CEO More broadly, Adams says Uniswap Labs will focus on building services that will make Web3 more accessible to non-technical peoplea challenge he. According to DigitalCoinPrice, the Uniswap exchange is a profitable investment and its price may reach $7.22 per token at the end of 2021. While it remains unclear why the bank closed Adams' accounts, banks are "contractually prevented from telling a customer why," comments a Twitter follower. . Required fields are marked *. It also didnt help to debut Uniswap v1 in the midst of a crypto bear market, where ETH drew down some 95% from its peak price value. In mid-October, Paradigm partner and quantitative analyst Charlie Noyes spit out a new bloghttps://www.paradigm.xyz/open-problems/index.html describing three problems he and Paradigm have yet to answer about Uniswap a project in which they hold a significant stake. Uniswap is no different. In 2016 he graduated from Stony Brook University with a bachelor's in engineering. Team Members. Joseph Lubin Source: Ethereum Net-worth: $5 billion6. Uniswap is open source, meaning people can clone its code and launch their own variant. Job Department. Although cautious by nature, Adams has set his eyes on the prize: Uniswap becoming the top crypto exchange by volume sometime next year. Thats the last question I lobbed to Adams as our conversation closed. As you may know, Hayden was inspired by Vitalik Buterin to create a decentralized exchange similar to Bancor's model, but without the BNT token. Bart Stephens Source: Blockchain Capital Net-worth: $300 million54. There is no certain fit approach to becoming a successful forex trader. industry Finance as a service. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. Uniswap Founder: Hayden Adams Uniswap Twitter net worth . He lived in Brooklyn, N.Y., off his ETH stash, programming away for months on a Uniswap proof-of-concept. Thus the spirit of Uniswap is not dissimilar from the general premise of Bitcoin and its attempt to free money from government by democratizing the buying and selling of tokens. Contacts. He gained a great deal of trust and the inspiration to take his singing abilities to the next level. Net worth. Uniswap price markets are largely flat until the arbitrage opportunity from a trade surpasses the fee and cost of execution on Ethereum. In fact, the project, begun in the lulls of his unemployment, broke Coinbases daily trading volume in September for the first time in DeFis own flippening.. Here, Floersch stepped in again, introducing Adams to the concept of a decentralized exchange. Digital ftx ventures ftx davebetzcoindesk, Cryptomining botnet is now aws credentials, Source pierre whistleblower aidbirnbaumpolitico omidyar haugen. This is most clearly seen [by] how much easier it is to participate in automated market making compared to traditional market making.. The story behind notorious crypto criminal Alexander Vinnik: Was the Russian national behind Mt Gox hack and what is his net worth? That limited the AMMs functionality greatly. So, Adams began to learn JavaScript and Solidity as encouraged by a dramatic upswing in the price of cryptocurrencies in the summer of 2017. Fewocious Source: NFT Artist Net-worth: $50 million93. Adams, 26, was introduced to his future project, an automated market maker (AMM), via a 2016 Buterin Reddit post entitled, Lets run on-chain decentralized exchanges the way we run prediction markets. That post itself was based on work from prediction market Gnosis and even earlier theory from libertarian-leaning economist Robin Hanson. Hayden Adams began making trips to various conferences in Canada and New York City. Adams had resisted moving into crypto for years, even passing up ether (ETH) at $0.30 a coin. In late 2017, he pursued an idea created by. He was born and raised in Dallas, Texas. Search Contacts. . These investors are called liquidity providers but they function similarly to market makers, just incredibly passive ones. Thus the spirit of Uniswap is not dissimilar from the . When you combine market swings with trading, you get arbitrage opportunities. It is designed around ease-of-use, gas efficiency, censorship resistance, and zero rent extraction. He is now the chief technical officer at blockchain scaling firm Optimism.

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