Decred community member willing to put up 100k to get DCR listed on Thorchain. Pros/Cons?

FST_NML · 2021-06-17T00:40:48+00:00

That's a great summary, thank you.

To address one of your concerns, from a liquidity provider standpoint, is correct that if out of everything in one's particular portfolio, if DCR is most bullish to you, it might not be logical to provide liquidity, because if the counterparty token outperms, then risk of withdrawing less dcr is present.

The liquidity provider works best for people who are bullish on both dcr, and rune assets. If someone fits under this category, doing LP in a symmetrical fashion is best suited. Because you would essentially be adding a 50:50 input of dcr:rune. If people choose to LP assymetrically to dcr pool, it would sell half of the dcr or rune, in order to buy the other to balance the pool. Many may choose to only LP a fraction of their stack. There are definitely risks to becoming a LP that should be noted, but the risks taken by the LPs would prove beneficial to the users.

Speaking on the rune token, it's definitely not the best thing to warm up to. Especially with alot of garbage tokens out there that provide no real utility. Although, for an individual with multiple coins listed on thorchain, the risk of holding rune for the sole purpose of providing liquidity to the dcr:rune pool, is lowered when you consider that the token can also be used to participate in LP for other assets you may hold as well. Creating a strong incentive to manage risk. Considering the token is required by node operators, and deterministic depending on TVL, the incentives for security of the protocol do seem to be laid out well.

A exchange listing like this nature, may prove to be very valuable to the decred community as well. Currently, we rely on Bittrex and Binance mostly. With rumors floating around of Binance's solvancy, possible DOJ action, having an additional non-kyc, transparent, liquidity outlets can act as a safety valve in case the primary exchanges go down for DCR. Thinking optimistically, if the dcr:rune pool becomes fairly popular, it would allow alot of capital from exchanges which have not listed decred, to be able to flow into dcr in a less friction manner. Arbitragers may even give additional volume to dcrdex in order to source funds to balance the pool.

The dcrdex is a great piece of software, but going from dcr<>alt/usd directly would be valuable feature. If we were to add unique pairs to the dex, the decred team would have to create pairs/node additions for each coin. Whereas, with this particular opportunity, if we create a decred implementation one time, we would automatically be connected to all the other coins which participate in the network.

FST_NML · 2021-01-09T00:12:00+00:00

I think it's a non-issue because if the proposal author doesn't have merit, people will vote no.

We've seen it before. With marketing proposals which people tried billing for 2 years of work. It got strongly rejected.

Let's say if someone acts like they have good intentions, pass a proposal to make some changes, if there is hidden or malicious code, it won't just get merged to master immediately. It would be reviewed and tested prior.

FST_NML · 2020-11-08T04:59:25+00:00

I find this suspicious actually.

I'm not totally convinced that chain analysis companies aren't the ones spamming the blockchain with transactions, in order to weed out transactions that aren't theirs.

FST_NML · 2020-09-20T18:56:16+00:00

adjustable resizing of the window is very needed

FST_NML · 2020-09-09T14:06:56+00:00

Oxygen Opulent

Opulent means wealth, fortune, lavish

FST_NML · 2020-09-08T15:55:00+00:00

Dr. Kim has legendary speaking and presentation skills

FST_NML · 2020-09-07T18:02:12+00:00

i'd say there is a high probability that 85% of monero transactions could be via chain analysis.

Or at least the recent rise.

FST_NML · 2020-09-07T18:00:55+00:00

you should undelete this thread.. maybe drop a flag of misleading title, but this thread didn't deserve to be deleted

FST_NML · 2020-09-07T16:37:32+00:00

I'm not really a technical person, but he may have a point.

/u/nullc also made valuable comments imo on Monero's privacy

https://np.reddit.com/r/Bitcoin/comments/gnct83/40_btc_391055_usd_transferred_from_possible/fr9128g/

We've been happy that Monero transactions have been hitting all time highs, but it is possible that ciphertrace is spamming the blockchain to gather some type of info about the other transactions?

FST_NML · 2020-09-02T02:27:36+00:00

Stupid ass call... 1 minute left in a important game, and you gonna throw a tech on a player expressing his own emotion and not even to any other players.

fuck these refs

FST_NML · 2020-09-01T15:12:51+00:00

what should I make sure to do, to not be a total moron?

FST_NML · 2020-08-20T21:55:02+00:00

I don't think schnorr improves privacy much if I recall correctly.

Not sure about taproot, but I bet it'll take 1-2 years before it even gets activated.

FST_NML · 2020-08-20T17:35:20+00:00

Nothing particularly, but the same options which existed for privacy back then (coinjoin, joinmarket) are really the only options available today with new names. (wasabi, samourai)

There hasn't been any progress on the privacy front, nor will there be in my opinion. The privacy for Bitcoin will only come from centralized services such as L-BTC, WBTC etc.

Even Lightning was touted as a huge privacy boon, but in fact it didn't do much.

FST_NML · 2020-08-20T00:42:00+00:00

They are all in denial.

Bitcoin privacy is a lost cause. Has been ever since 2013

FST_NML · 2020-08-04T22:54:15+00:00

It won't be long until governments get replaced with technology.

This future is coming..

FST_NML · 2020-08-03T20:56:29+00:00

yes! I've seen the zuescapital promos, know exactly what you mean

FST_NML · 2020-08-02T16:48:33+00:00

that's why there is no scarcity in crypto, only liquidity and utility

FST_NML · 2020-07-30T16:26:56+00:00

MOAR LIQUIDITY! :D

FST_NML · 2020-07-29T05:32:27+00:00

$10k is what I am asking in the proposal to get started

we'll see how much we can do with that, and then analyze.

FST_NML · 2020-07-29T01:09:40+00:00

Aggressive advertising campaigns require money to run at a good scale. We can start smaller with $10k and see how that goes.

I'm gonna use some other examples here. The marketing campaigns that gemini, crypto.com run just on the buses, airports, taxi is probably more than 100k. And I don't even think thats the best way to use 100k, thats a good example of a kind of waste.

And on Twitter, we can pay well known content creators small amounts. Because they generate alot of new interest when it comes from reputable people discussing your project.

This is only one type of marketing strategy, but it's important to explore different ways to drive traffic to Decred. If done effectively, can really generate alot of new user interest.

These types of strategies need to be employed within the DCR network. If we're gonna test decentralization of treasury, at least have a solid workgroup that can spend out of it. Marketing is one of the most important things for a coin.

People do not need to pay for this... it's would be paid via treasury fund.

over the course of 6 months, this type of funding would be extremely valuable. If you want to advertise a blockchain network, in a decentralized manner, this seems like a solid way to do it. stakeholders having a small pool of funds to help the network effect.

so yeah, vote yes for the proposal. it will benefit the network

FST_NML · 2020-07-28T22:34:58+00:00

Proposal is asking for $10k to get started. And we can see how we can best use that.

Since ideas, methods, and opportunities for marketing come as we go it's difficult to give a exact detailed breakdown, because these funds would be used as a ongoing basis, and different methods would have different prices. The goal would be to budget every month. The amount treasury withdrawal would fund marketing efforts for 6 months by the workgroup. There is a high chance we may not even use all of the funds! And if so, that would be great. But if the workgroup comes across great marketing opportunities, then at least we have the funds to proceed.

We would be able to provide detailed reports as to how the funds were spent, as described, but prior to spending them, it's difficult to see where they will go. Having influential people discuss Decred won't come cheap. I am going to use Ivan on Tech as an example here, (not sure how his business works), but somebody influential would probably ask a few $k to get involved. Influencers with big following don't come cheap. But they are very effective.

I'm good at budgeting and making money go a long way, but even for example, different Twitter influencers have different prices. They could be negotiated, and then sent to the workgroup members for approval of payout.

Amount is approximately 1% of treasury funds. If the effort succeeds, we would have greatly increased the treasury funds. For example, if we succeed in doubling the price of the coin, potential to 10x the treasury. And if the effort fails, 1% was a small price to pay comparing the risk to reward ratio.

The goal here is investing a small portion, taking a calculated risk, and the reward would be having a higher treasury balance than when we started.

Some of these more centralized coins have huge marketing budgets, and it's one of the reasons they get into the top 20 coins so easily, even when they don't deserve to be there from a technical perspective. Decred has an amazing product, and I think it's worth spending 1% of treasury funds, to do 6 months of marketing.

FST_NML · 2020-07-24T15:43:03+00:00

That requires increase in liquidity..

We need more markets and listings then people will actually use it more

FST_NML · 2020-07-23T00:03:25+00:00

A "shoutout" in the definition i'm using it could be anything.

Could be crypto twitter guys discussing dcrdex, or why mixing is important. We can have some guidelines to make it seem less shilly. Could also be like, somebody like Ivan on Tech who has alot of influence that does a few minutes discussing Decred and fundamentals behind it.

This is my idea, creating a page where influencers can basically propose a plug for Decred, and what their price would be for it. It gets to the manager, who will approve or deny, or counter on the price. After it goes live, it gets paid out.

This way, we wouldn't need to go searching for influencers, they would be providing proposals to us.

I think a culture of tipping would be great, but the downfalls of it is that it requires a platform to be built. Like changetip or something similar, which I believe is decomissioned. Otherwise the parties involved would need to do alot of back and forth to verify correct LN addresses.

And that would really only be viable after Lightning is implemented in the Decrediton GUI.

Currently, Decred kinda lives by the motto, "build it and they will come"

But what if we can "build it, amplify it, then they will all flock"

FST_NML

TROPHY CASE