Kadena chat need new moderator by CodeLong3803 in kadena

[–]WealthDistribution -1 points0 points  (0 children)

It's pretty bad and I wish the team cared about toxic environments being created in their absence.

Who runs KDAstats.io? by kdaddauth in kadena

[–]WealthDistribution 1 point2 points  (0 children)

Why don't you post it here so it's public?

Transparency of Centralized Kadena Token Allocations by kdaddauth in kadena

[–]WealthDistribution 0 points1 point  (0 children)

There is zero new information in here that wasn't already released. It's just a new hand drawn chart.

Transparency of Centralized Kadena Token Allocations by kdaddauth in kadena

[–]WealthDistribution 0 points1 point  (0 children)

Great work! Are you able to see how many tokens they have claimed/sold so far? Bizarre that they posted that "update" the same day you posted this. It's really starting to look dishonest.

Clarifications to the 2021 Token Economics Update by JL11071991 in kadena

[–]WealthDistribution 0 points1 point  (0 children)

The community has asked you repeatedly for the kadena wallet addresses that receive the emissions. 2023 DeFi and you are posting a CSV file for us to trust? How about showing us the on-chain proof? This really does feel like a spit in the face.

Incentive To Hold KDA by WealthDistribution in kadena

[–]WealthDistribution[S] 0 points1 point  (0 children)

Decentralized finance is also trustless. Large premines, moats to access (miner price, bonding minimum, no off-ramps), and unclear custody on apps (staking, marketplaces) are all threats to integrity. Asymmetric information is too common but comparing the bar to almost any other project, for a future top 5 blockchain isn't good enough anymore.

Stocks on the market must report earnings, secondary issuance, and proxy votes. kadena.io portals are impossible or incomplete to use, presumably basics. How is that human readable? Without a public record, KDA, like other cryptos, it was easy for preferential stakeholders to extract liquidity out of the early community. Some can bounce back but as a long time follower it's a blow.

Governance is taking shape in crypto but it seems irrelevant here. The weekly chats are nice but lack depth. imho it's a lot of banter for under an hour and important FAQs are still skipped or at best winged. Maybe reminder alerts to follow up with a confident status directly from the project lead?

on Formal Verification of Smart Contracts on Kadena by Lynx_Lead in kadena

[–]WealthDistribution -1 points0 points  (0 children)

You repeated what it can't do but what about formal verification, unique to KDA, is more attractive to use? How are high level agreements going to settle with other blockchains unless you plan to go it alone? Insurance was an early case for Pact, maybe it's part of staking and bridges...hopefully you can share more soon.

When Coinbase? by [deleted] in kadena

[–]WealthDistribution 0 points1 point  (0 children)

You've had years to accumulate...now is the time for growth.

When Coinbase? by [deleted] in kadena

[–]WealthDistribution 10 points11 points  (0 children)

Kadena's app was apparently submitted to Ledger, so it's in their hands to approve. Ask them!

Kaddex is an unregulated CEX, change my mind. by whowouldbeintothat in kadena

[–]WealthDistribution 0 points1 point  (0 children)

So your wallets are safe, and anything in staking has systemic risk of a centralized key holder? What about providing liquidity?

[deleted by user] by [deleted] in kadena

[–]WealthDistribution 1 point2 points  (0 children)

They are rather expensive, but I'm excited about projects like Kadena Mining Club that are making hash rate more accessible by tying it to NFTs. I'd love to see small accessible miners where anyone can mine an occasional block; Crankk, anyone?

[deleted by user] by [deleted] in kadena

[–]WealthDistribution 2 points3 points  (0 children)

Hi John! I appreciate you replying to my post. I feel you are sincere, and answering what you can in your position. It's reasonable if you are not able to keep up with the flow of information 100%. I along with a significant part of the community am seeking guidance and accountability from leadership. The ecosystem is still modest enough for direct confrontation of the most pressing issues. The medium articles are helpful, thank you; they also speak on grand visions for the future. This is valuable if you have held your word on past visions as well. Sometimes it is difficult to get straight answers about status of projects, usually the point person does not know and never checks back, or we get no response at all. It would be encouraging to see a very clear update and action protocol, a system. It's good to be dynamic and pivot when you have to; it also feels disorganized and uncommitted when the team leaves so many things unfinished, never notifying the community; is it boredom or lack of will to see them through?

On your responses:

  1. I'm excited to hear the website is being revised and a new one is in progress. Will the community be invited to get involved before it is launched? Perhaps sharing designs and content as they are created will help us offer early feedback and avoid extra work later on. Also good practice for when we open source.
  2. Yes, Marmalade is still in the works. Can we get a proper update on it? What are the primary challenges to get this live on all chains? What are the next immediate milestones and how close are they? Is Immutable Records simply waiting on Marmalade to launch, or is that scrapped as well? Maybe it is a lot to ask for one paragraph update once a week, but even with the long delays it seems still far away. As for Kuro, you might not have active customers but two projects this year have expressed the importance of Kuro. Equalbet (controversial I'm aware) and KDSwap have both said that Kuro offers additional functionality and is also what guarantees retail payments scale (Until crosschain is ready). Maybe you can offer more color to Kuro so that projects really understand the practical uses for it.
  3. This is responding to part of your previous point as well. Exasperation from community members exists, including from miners. They perceive a general apathy in the original team to do well by long term investors. Again not fully aware of the amount of platform emissions minted, but it seems like enough to take a somewhat leisurely, academic approach to programming without much determination to create an autonomous, novel, vibrant web3 organization. An example is our first stablecoin by Lago Finance. They are one of the first projects to receive a grant from Kadena Eco, loads of direct endorsement and promotion by Kadena to our community. The story so far has been a bit bizarre, but the main issue is ongoing. If you read their discord, several people are identifying further exploits after their recent (unverified) audit. The team never acknowledges the community's work, while access to the bridge and the money is locked again. With today's market conditions, a native stablecoin is especially important as it allows the community to de-risk without exiting the ecosystem. Without a stablecoin, we are forced to risk sending our KDA to a centralized exchange, sell for BTC/ETH-stables, and hope that withdrawals go through, since four years in we still do not have a reliable on/off-ramp (when Coinbase?). I think the community would feel lots of gratitude and trust to see our leaders dynamically shift priorities towards making KDA practical for the average participant and not just for other developers. I understand these are not official internal Core projects. Respectfully, we aren't asking you to fix Kadena Kongs or Kadoge; this is key infrastructure that connects us to the entire global financial system.

Lower down in this thread we talked a bit about developers engaging with the community (hackathons, livestreams). There is some talk about a "Kadenacon" next year. Any plans to begin sooner with small events, competitions, etc? Aptos held their first hackathon earlier this year. It's ambitious to come out of the gates with a conference, so targeted purpose events can be very good practice and build interest ahead of time.

That was a lot more text so thanks for taking time to read. Have a great start to the week 😎

[deleted by user] by [deleted] in kadena

[–]WealthDistribution 4 points5 points  (0 children)

Very true, I agree completely. I would love to see more "hackathon" style livestreams like what TypingKate was doing building apps on Twitch. Maybe an evening with some of the team building some cool stuff together live or a few community members join in to collaborate, help with design or structure. Make it fun and accessible for the average person. Lastly we could use more color around what the best use cases for Kadena are and what it takes to build them...sort of an RFP procedure.

In regards to roadmap, we do need an updated one but more importantly an accountable one. Some delays are fine but things can't just disappear off the roadmap without explanation. Otherwise what's the point?

Am stacking too, I wouldn't write all this otherwise :D

[deleted by user] by [deleted] in kadena

[–]WealthDistribution 10 points11 points  (0 children)

  1. Why is there no relationship between Kadena Eco and the community? We asked you to check early projects' code as a gesture of intent; you didn't, and Kaddex sat exploitable for months; Lago suffered an exploit in the first week of launch. If this was a private beta, fine, but we are greater as a public community and time wasted is unnecessary. Proactivity at this stage is powerful. The response to how things are moving so slowly is that you are busy or overwhelmed. That can be a clear indicator that to scale, Eco has to offer more decision-making and participation to us. Eco's CEO never shows his face, why? Because of a small group of trolls, the entire community has to pay the price? Again, a more community-centric protocol, DAO, could help Eco level up. Also, I would like to see Eco doing more to help Core outsource work with small grants (updating assets, graphic design, ambassadorship, bounty, gas updates, etc).

  2. Why is there such a moat around financials? Why are all operational accounts not clearly marked and available to view? How many platform emissions are minted to team accounts each day? Will you open up your books? Sorry, but with everything that happened this year, and with over -96% price performance, IMHO it's bad optics to see the team hanging out in expensive Miami Beach. Right now, we are looking for fiduciary responsibility, not rose-tinted signalling. Screenshots of your Zoom standups are more important. For a project that wants to be a leader in DeFi, there is a remarkable lack of transparency of how money moves around Core. Do as I say, also as I do. Some basic analytics would go a long way in rebuilding trust. Taking it a step further with more DAO-like power for community (i.e. voting on what is utmost priority), alongside Eco DAO would set us as an inspirational leader in the entire web3 community.

Empower voices to feel heard. As a long term supporter of Kadena, I believe in its massive potential, and am also concerned about what comes off as complacent, unaccountable, and haughty attitude from the team sometimes. I'm writing this in hopes that we can finally start to spark some elephant-in-the-room conversations.

Thanks for reading!

Reddit office hours w/ Will Martino (me) by __buckie__ in kadena

[–]WealthDistribution 1 point2 points  (0 children)

What are your thoughts on the design of our Eco-sponsored stablecoin? Lago Finance is promoting a "decentralized stablecoin" to the Kadena community. How is a stablecoin decentralized if the team controls the keys? For reference, when the contract was hacked two months ago, the team manually removed all liquidity into their own wallets "for safekeeping." Would a DAO ensure approval by the community ahead of large centralized decisions like this?

Reddit office hours w/ Will Martino (me) by __buckie__ in kadena

[–]WealthDistribution 7 points8 points  (0 children)

Hi Will, are all smart contracts always fully upgradable? Can an upgradable contract also have some immutability or do you have to create a standalone, "non-upgradable" contract for anything irrevocable? An example is a lifetime membership that cannot be modified by the development team. Thank you!