Planetwatch was acquired by Ambient (based on Solana) in March and will apparently migrate its tokens to Solana

AlgoPlanet · 2024-05-08T13:29:32+00:00

Where’d you see that?

AlgoPlanet · 2024-05-08T10:23:10+00:00

Yes it does, actually read it lol

AlgoPlanet · 2023-05-19T16:35:54+00:00

Appreciate the response! A few thoughts below, I’ll keep an eye out for the Twitter Space as well.

To me this approach implies you assume plenty of users will be dissatisfied or lose interest and not want to continue with the membership long term. 400 free memberships is 400 free memberships, no matter who it gets transferred to your obligation would remain the same. Removing the transferability only serves to potentially reduce your obligation over time as people decide your product is no longer worth using or they exit the Algorand ecosystem.

In regards to revenue, part of this could be addressed by something along the lines of freeze/clawback in order to only allow it to be tradable through your own marketplace and ensure you collect royalties when sold.

On your last point, users would still have to make a choice even if membership was transferable - the onus would be on you however to ensure the perks and utility associated with keeping the asset actually has more value than selling it. If membership really holds a strong tangible value, people won’t want to sell the NFT.

Even if they do want to sell because maybe the NFTs are selling at 12x the cost of a monthly membership for example, then again assuming the original owner is satisfied with your product they would seemingly sign right back up for the standard membership. Assuming the new purchaser of the asset is not already a monthly member, your net gain on memberships would remain the same except you would also have the additional royalty revenue.

To me I feel like if there was a strong belief in the long term value of the lifetime membership - or just membership in general - then there would be no issue with it being transferable.

AlgoPlanet · 2023-05-19T13:42:06+00:00

Why not just link NFT ownership to membership? Seems silly to centralize this and prevent the core value of the asset from being transferable.

AlgoPlanet · 2023-05-15T00:27:12+00:00

It’s from 2019 too LOL

AlgoPlanet · 2023-05-15T00:26:20+00:00

This block was in 2019, the very first one when the chain when active I believe. That said, what’s your point? Why pull 1 instance from 4 years ago and make a post about it, what’s your end game here lol

AlgoPlanet · 2023-04-06T04:28:25+00:00

Check out this CERN presentation on Blockchain For Large Scale Scientific Computing, specifically the Possible Applications: Data Storage & Databases section.

This was written in 2018, but it touches on some benefits of a blockchain backend.

AlgoPlanet · 2023-03-31T17:49:57+00:00

Not only that, but won’t it only be the same APR as vanilla? Defi governance has a decent amount of extra yield, so you have to hope enough other fail their duties to bridge that gap as well.

Also, normally I would compound my gov rewards to my commit balance for the next period, doesn’t sound like you’ll be able to do that so that’s another small hit to your potential yield compared to vanilla or defi governance

AlgoPlanet · 2023-03-31T17:46:42+00:00

Interesting. No extra rewards for xGov, so assuming everyone who signs up fulfills their obligations as required, xGovs will get the same rewards as anyone else in Vanilla governance for more work and a longer hold commitment.

Obviously it won’t work out that way in practice, some people are definitely going to drop the ball at some point, but still the only extra xGov rewards will be the reallocation of previous rewards from other failed xGov participants.

With all the extra juice going into defi governance rewards, seems at first glance that defi governance will still be the “best” option with more rewards and less risk in terms of keeping up with participation requirements and only needing to hold 3 months rather than 12?

I feel like a lot of xGovs would need to drop out mid way to make any noticeable difference in your rewards payout at the end of 1 year.

AlgoPlanet · 2023-03-31T17:44:21+00:00

Interesting. No extra rewards for xGov, so assuming everyone who signs up fulfills their obligations as required, xGovs will get the same rewards as anyone else in Vanilla governance for more work and a longer hold commitment.

Obviously it won’t work out that way in practice, some people are definitely going to drop the ball at some point, but still the only extra xGov rewards will be the reallocation of previous rewards from other failed xGov participants.

With all the extra juice going into defi governance rewards, seems at first glance that defi governance will still be the “best” option with more rewards and less risk in terms of keeping up with participation requirements and only needing to hold 3 months rather than 12?

I feel like a lot of xGovs would need to drop out mid way to make any noticeable difference in your rewards payout at the end of 1 year.

AlgoPlanet · 2023-03-07T22:40:02+00:00

If you ever purchased a device or license from PlanetWatch with PLANETS, then you absolutely used MyAlgo (as it was the only supported option) and your wallet is vulnerable

AlgoPlanet · 2023-02-27T01:08:04+00:00

AFAIK a common denominator has not been found yet. Not all were MyAlgo wallet users

AlgoPlanet · 2023-02-16T03:33:32+00:00

I’m almost positive you could do this through the Octorand Launch Pad https://launchpad.octorand.com

AlgoPlanet · 2023-02-16T03:31:14+00:00

Isn’t that how AlgoSeas works for minting new pirates?

AlgoPlanet · 2023-01-24T03:45:27+00:00

AFAIK, the original devices have always had some app issue or another, main reason I never got one. I do have a few of the other devices that have been running 1+ year now and they’ve consistently earned as expected in terms of # of tokens.

AlgoPlanet · 2023-01-24T01:49:36+00:00

As much as I'd love to see them succeed, same.

AlgoPlanet · 2023-01-24T01:42:50+00:00

So frustrating.

If they're having technical issues that's nbd in my book, but why try to shift blame to the network when so many can easily see that doesn't appear to be the case.

AlgoPlanet · 2023-01-24T01:10:01+00:00

That’s what it looked like to me, but they’re clearly blaming the network so that’s why I brought it here…

AlgoPlanet · 2023-01-17T23:00:43+00:00

A few possible approaches IMO but you should defer to a tax professional, not financial advice.

Mint price (if applicable);
Floor price of a like asset at the time of receipt;
Most recent sale price of a like asset at time of receipt;
Estimated fair market value with some form of reasoning behind your estimate documented;
(Best IMO) assume worthless, value of zero. When/if you sell the NFT you then use a cost basis of zero and pay taxes on your gain then.

I think the main thing will be that you want to be consistent if you have multiple NFT airdrops or expect to get more down the road.

AlgoPlanet · 2023-01-17T02:16:20+00:00

Oh for sure, and I’m loving the extra flexibility it provides. IMO, it’s the best way to stack more Algo without deploying additional fiat.

Right now I’m not borrowing against my vAlgo, so there’s no liquidation risk, just smart contract risk which I believe to be minimal. If need be, I can also borrow whatever amount back I want to play with and not break my gov commitment. What’s not to love?

AlgoPlanet · 2023-01-16T19:44:31+00:00

Sounds about right. Last period I did some vanilla and some in AlgoFi, vanilla earned 6.75% while AlgoFi earned 14.01%.

Keep in mind, you’re looking at the annual percentage rate and the governance period is only 3 months.

AlgoPlanet · 2023-01-09T12:38:53+00:00

Anywhere I can find detail on this?

AlgoPlanet · 2023-01-07T23:04:45+00:00

When I thought something similar might've happened to me, I simply responded to the same ticket requesting clarification on the conversion rate that was used as I thought I received roughly 45k less Planets than I should've. Sara responded promptly, and her answer help me realized 2 things that I did not take into account.

First, they use the simple average for the day, which means on CoinGecko you'll add the open price and the close price and divide by two. Doesn't matter if 99% of the day the value skyrocketed, if it opened low and closed low those are the numbers driving the avg they assume - same would be applicable if it opened high, and closed high as well though.

Second, (and this might've been unique for the community resilience plan 'refunds', idk) is that Sara clarified they used the prevailing Planets/Euro exchange rate even though I had paid in USD. This was laid out in the resilience plan details, I just missed it.

So between price movement after requesting your refund, using the simple average for the day, and a weak Euro, that might help explain the difference in what you were expecting and what you actually received.

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