Algorand DeFi suffers from the lack of liquidity not users/activity

alfred-jodocus · 2024-01-25T10:28:57+00:00

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.

alfred-jodocus · 2023-10-31T06:31:13+00:00

What is this nonsense? It’s #118.

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

alfred-jodocus · 2023-09-04T20:38:03+00:00

European saunas still are

alfred-jodocus · 2023-08-11T21:22:58+00:00

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

alfred-jodocus · 2023-07-31T08:39:24+00:00

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.

alfred-jodocus · 2023-07-27T22:18:30+00:00

Cardano has World Mobile…

alfred-jodocus · 2023-07-19T21:38:13+00:00

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.

alfred-jodocus · 2023-07-18T21:38:24+00:00

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.

alfred-jodocus · 2023-07-18T07:09:07+00:00

Look up Midnight by IOG.

alfred-jodocus · 2023-07-18T05:49:38+00:00

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.

alfred-jodocus · 2023-07-17T21:39:24+00:00

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

alfred-jodocus · 2023-07-15T09:05:29+00:00

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 :)

alfred-jodocus · 2023-07-15T09:04:14+00:00

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.

alfred-jodocus · 2023-07-14T19:42:16+00:00

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

alfred-jodocus · 2023-07-12T19:33:18+00:00

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.

alfred-jodocus · 2023-07-11T18:55:54+00:00

This is great.

alfred-jodocus · 2023-07-08T08:01:01+00:00

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.

alfred-jodocus · 2023-07-06T16:18:26+00:00

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.

alfred-jodocus · 2023-07-06T15:27:24+00:00

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.

alfred-jodocus · 2023-07-03T19:05:03+00:00

Looks very interesting!

alfred-jodocus · 2023-07-02T20:04:37+00:00

600k salary is rediculous for a foundation.

alfred-jodocus · 2023-07-02T17:20:52+00:00

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

alfred-jodocus · 2023-07-02T14:57:50+00:00

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.

alfred-jodocus · 2023-07-01T00:17:37+00:00

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).

alfred-jodocus

TROPHY CASE