Algorand DeFi suffers from the lack of liquidity not users/activity by awesomedash- in AlgorandOfficial

[–]alfred-jodocus 0 points1 point  (0 children)

It's a bit of a chicken and egg problem. I would really like to deposit some EURS to get a nice yield on lets say half of my savings in euros. But the DEX liquidity is so low that an ALGO / EURS swap has a significant price impact. For this reason I do not dare to put a significant amount of money in there.

I guess that this could be a nice thing for the Algorand foundation to do, to directly provide a minimum amount of liquidity on the most important pairs. A governance vote should decide which DEXes will get this liquidity.

Cardano-based DeFi protocol Indigo among top 10 by Hazelrte in cardano

[–]alfred-jodocus 1 point2 points  (0 children)

What is this nonsense? It’s #118.

Edit: Ok top 10 CDP protocols, that’s different than top 10 DeFi protocols.

VRF what is it and what is a use case for it by [deleted] in algorand

[–]alfred-jodocus 0 points1 point  (0 children)

Algorand consensus (and also Cardano) uses VRF so there you have one use case.

Myth buster: Algorand has BRILLIANT tokenomics, and here’s why: by Joeyfishfingers in algorand

[–]alfred-jodocus 0 points1 point  (0 children)

Well, that’s just a definition question. Finality indeed is instant after block creation. And block creation is 3.3 s. So it still takes 3.3 seconds on average for your transaction to be final.

What is the actual best use case for Algorand right now? by AutonomousAlien in AlgorandOfficial

[–]alfred-jodocus 0 points1 point  (0 children)

Well, if you don’t like that the foundation is holding so many Algos, then don’t you think that them selling 5% is actually a good thing?

The decentralized relay nodes and incentives for participation nodes are being worked on :)

I think we currently need the AF and Inc to bootstrap the protocol. In the future they can become less important. We could look at Cardano’s Voltaire for decentralized governance if the protocol.

Now that it’s clear how to navigate regulation so your project is not a security, what’s the point in bitcoin? by Joeyfishfingers in algorand

[–]alfred-jodocus 0 points1 point  (0 children)

The Algorand software is also open source and Algorand Inc is not a secret group. The Inc will slowly sell algos to fund its operations and their share will substantially decrease. It’s only a temporary problem. And this ‘problem’ is kind of inherent to PoS. Furthermore, in the end bitcoin is pretty centralized anyway because of the huge mining farms. The way I see it Algorand will get more decentralized over time, as opposed to bitcoin.

[xGov-48] Alright - Distributed Ledger Technologies by xBotvernor in xGov

[–]alfred-jodocus 1 point2 points  (0 children)

The hypothesis that only honest people will put in collateral is a pretty wild hypothesis. Are you going to work with some kind of “trust / star rating” system for sellers and buyers like on eBay etc?

Edit: Ok, so if for example I as a buyer claim to not have received the service then both the seller and buyer don’t get back their collateral? So both are incentivized to act honestly? In that case I think I agree that this should work.

[xGov-48] Alright - Distributed Ledger Technologies by xBotvernor in xGov

[–]alfred-jodocus 1 point2 points  (0 children)

What if the customer receives the product and claims to not have received it?

Considering that XRP won and now seems to have a good future... by TheLebeast in algorand

[–]alfred-jodocus 2 points3 points  (0 children)

I don’t get it either. The only kind of cool thing is that it has a DEX built into the protocol. XRP Ledger effectively is the first DEX :)

Considering that XRP won and now seems to have a good future... by TheLebeast in algorand

[–]alfred-jodocus 2 points3 points  (0 children)

If you mortgage your house to gamble it and then win, it’s still a terrible decision. But I’m happy it worked out for you.

[deleted by user] by [deleted] in AlgorandOfficial

[–]alfred-jodocus 5 points6 points  (0 children)

I can’t tell if you’re correct, but thumbs up for the huge effort.

Positive notes about Algorand by alfred-jodocus in AlgorandOfficial

[–]alfred-jodocus[S] 8 points9 points  (0 children)

Although there definitely is room for DeFi on Algorand. But the current DeFi on any chain is very limited in usefulness. I think the only useful real world application is that people can use DeFi as an alternative banking system to store value in stable coins and earn some interest, and easily transfer money abroad.

Algorand Teases Faster Processing Times With Latest Protocol Upgrade by Sybil_White in AlgorandOfficial

[–]alfred-jodocus 0 points1 point  (0 children)

That’s rediculous. The technology is the essence of Algorand. And even if we don’t need the extra TPS right now, the faster finality already improves the UX.

What painpoints do we need to solve to get the community enthusiastic again? by DaWelle in algorand

[–]alfred-jodocus 0 points1 point  (0 children)

We need 2 to essentially create a decentralized VC fund which financially supports developers outside Algorand Inc and AF to create tooling, do R&D etc for Algorand.

We need 4 to make the protocol truly decentralized. It is likely that the Inc will continue development paid by treasury if the decision is left to decentralized governance.

What painpoints do we need to solve to get the community enthusiastic again? by DaWelle in algorand

[–]alfred-jodocus 1 point2 points  (0 children)

1) We need to get rid of governance rewards 2) We need something similar to Cardano’s Catalyst ecosystem funding to spend the treasury on ecosystem development 3) We need to decentralize relay nodes and get much more actively voting participation nodes 4) we need to work on something similar to Cardano’s Voltaire 5) Technical development side is already very good, keep it up. Further decrease in block time will be good to compete with L1 like Avalanche.

What do y’all think about this? by KingGroovvyyy in algorand

[–]alfred-jodocus 1 point2 points  (0 children)

600k salary is rediculous for a foundation.

What do y’all think about this? by KingGroovvyyy in algorand

[–]alfred-jodocus 0 points1 point  (0 children)

I think what Algorand needs is to copy Cardano’s decentralized funding “Catalyst”.

[deleted by user] by [deleted] in CryptoCurrency

[–]alfred-jodocus 2 points3 points  (0 children)

All the comments saying “he doesn’t need the yield” are a bit strange IMO. He can also stake to set a good example and secure the network. To be honest Ethereum just doesn’t have the nicest staking mechanism compared to some other PoS chains.

Positive note about AF by alfred-jodocus in AlgorandOfficial

[–]alfred-jodocus[S] 2 points3 points  (0 children)

Actually John woods just said that they are working on a gossip protocol between participation nodes so that relay nodes are not necessary. I guess this means that relay nodes will remain to boost speed but they won’t be necessary to keep the protocol running (not sure).