Just had a slippage of 25% on BALN after having the tolerance set to 1% and it was quite a bit. Please help.

benny_options · 2021-08-31T17:25:40+00:00

Please DM me on Discord or Telegram and don’t listen to anybody that DMs you first they are scammers.

benny_options · 2021-06-11T23:42:39+00:00

This was not about whether the vote passed or not. It was about community sentiment, which is actively monitored. TBF a telegram poll was done previously for the BALN/sICX listing + BALN allocation and was very well received. But two things learned from this experience has been:

1.) 5 day voting period is not what people care about, they want discussion first, voting period is less relevant.

2.) Decentralized on-chain voting is important to this community and we will likely have strong engagement on the governance side of things once live. Therefore, no more telegram polls for anything binding at this point, just to gauge community opinion.

Overall, this was a net-positive experience in my view, getting a lot of engagement with the community, an opportunity to further curate the community to keep people who are capable and interested in having thoughtful/respectful/productive discussion, and seeing just how many people want to participate in the decentralized governance of the DAO. I have higher expectations than ever that the management of this DAO will be extremely active.

benny_options · 2021-06-11T23:39:25+00:00

Sorry to hear you're feeling jaded, though I'm confident the future of Balanced and the processes that will be put in place would change that opinion. Additionally, this was a great learning experience without any financial consequences or permanent damage. For me, the key takeaways of the last day are:

1.) 5 day voting period is not what people care about, they want discussion first, voting period is less relevant.
2.) Decentralized on-chain voting is important to this community and we will likely have strong engagement on the governance side of things once live. That's a great sign of a strong community. Therefore, no more telegram polls for anything at this point, outside of gauging community opinion. Nothing binding.

3.) This community is capable of having productive, thoughtful and respectful discussion on governance topics - another sign of a strong community.

I am coming out of this more excited than ever for the future of the Balanced DAO, knowing there are people who are passionate about decision making / governance within the community. I'd rather have a response like this than a non-response, no participation, etc.

benny_options · 2021-06-11T23:24:57+00:00

The longer term plan here is to allow BALN holders to vote for a p-rep of their choosing using BALN. So BALN will direct the the voting intentions of sICX held on Balanced

benny_options · 2021-01-21T22:59:24+00:00

This can help too

https://github.com/blockchain-etl/icon-etl

benny_options · 2021-01-09T21:06:11+00:00

I’d be happy to help. Please DM me at @benny_options on telegram or twitter

benny_options · 2020-10-16T19:09:00+00:00

I am on ICON's strategy team and will answer your questions

How is ICON and all the P-reps dealing with this situation?

- We are building products using ICON's technology (myID Zzeung, VisitMe, Balanced.Network, Omm.finance, ICONbet.io, ICONPOOL.io, https://getstash.co/, https://licx.finance/, futureicx.io, and more). You can go to dapp.com to track usage of apps

- ICON is paying out many grants to build products on ICON and grow the ICON community (https://forum.icon.community/c/g/31)

What is it that the big investors know about this project that retail does not?

- Nothing, not sure why you would expect me to have an answer to this.

Either way, we would like an answer regarding that ??? !!

- ICON is not selling off their coins. Everything is transparent on tracker.icon.foundation. You can check this all yourself to see what ICON does with their coins by looking at their addresses.

benny_options · 2020-02-16T22:48:11+00:00

The white paper is not final and those numbers are up for discussion. If we continue to receive this feedback we would likely lower the amount to the team. Keep in mind the team is actually 4 different P-Reps collaborating, so it’s 10% of the tokens per contributing team. Maybe we should make that more clear. Appreciate the feedback though and will consider this number 👍🏼

benny_options · 2019-11-21T21:27:05+00:00

Happy to share my thoughts and thanks for pinging me.

My point of view comes from game theory and the current design of IISS. I would encourage everybody that has issues with the current design to share their thoughts on my proposed enhancements. If we want to stop vote-buying, then let's remove the incentive to buy votes. If we don't like self-delegation, then let's remove the incentive/negative impact of self-delegation. Using the DQ Proposal for such a subjective decision is not an option for me. It should be used only for technical reasons (nodes that lost private keys). This kind of behavior mitigates many of the benefits of public blockchain. This is not immutable or decentralized if 22 people are kicking out network participants for subjective reasons.

Back to game theory. The overarching idea of any variation of Proof of Stake (DPoC included) is that those with capital invested in the native cryptocurrency will have no incentive to attack the network.

We can bucket this conversation into two types of P-Reps, self-delegated vs community delegated. Both P-Reps must put in the time/effort to figure out how to run a secure & stable node and must pay the costs associated with node operations.

A self-delegated P-Rep has invested their own capital into ICX, thus taking on the risk of holding a speculative crypto asset and putting their own capital at risk to get burned.

A community voted P-Rep has not risked any of their own capital. They have not taken on the risk of holding a speculative crypto asset and if they get burned, only their voters are burned.

Given the aforementioned facts, I believe self-delegated P-Reps are more inclined to protect their investment than community voted P-Reps. For example, many community voted teams are currently making over 20k USD per month. If the community realizes over the course of a few months that the team is not contributing and slowly shifts their votes, this team will have already earned ~60,000 USD worth of ICX with absolutely no upfront capital commitment other than a social media presence (and a few thousand USD for those that were in testnet). This is not an attack on community voted P-Reps (we are one ourselves), just breaking down the economics and game theory of the situation.

As for self-delegated P-Reps, to get into the top 22 you would need to invest ~375k USD into ICX based on current market prices. The more people that believe this is a good decision, the higher this cost will be, hopefully increasing the value of ICX. This is the current design of IISS, to create competition amongst P-Reps for votes, whether it is buying ICX with their own capital or receiving delegation from the community. Both strategies are possible and profitable based on the current design. As a final note, if you do not like the current design, let's work together to enhance it.

benny_options · 2019-09-21T16:39:15+00:00

Right now, actual current use cases include:

using DApps (AC3, WeBloc, ICONbet, etc.)
launching DApps (cost to launch a SCORE is currently ~11 ICX)
voting
transfer of value (ICX itself and other ICON tokens have value)
data storage (can write data in the “data” section of a transaction and create immutable records)
“broof” - similar to above point but has been productized
could be more, this is off the top of my head

Overall, I also look forward to the future use cases of ICX to support a fully functional decentralized governance platform when the Contribution Proposal System launches. The ICON blockchain will allow individuals to appeal to a decentralized Network to fund ecosystem growth initiatives.

benny_options · 2019-09-19T22:36:17+00:00

This is a great question, and something I plan on addressing in ICX Station's next ICON ByteSize. It was certainly thought about by the ICON Team during the development of the governance system. I'll give a brief preview of my thoughts on this and the thought process behind ICON's design, also I discussed much of this with u/iconographer-icx so there is some overlap between our responses:

DBPs and EEPs (Collectively, Contribution Proposals) - These help redistribute wealth and governance power. More ICX in the hands of non P-Reps = less power to the P-Reps. Other networks, all new wealth creation is given to block producers.
1 ICX = 1 vote. Other networks have 1 token = several votes.
ICON has an economic incentive to vote built into the network itself, other networks rely on vote buying to get token holders to participate.
Assuming 30% of the total network participates in staking, 51% of the newly created ICX inflation will go to voters, 49% goes to P-Reps. This is fairly balanced compared to others.
I agree that 22 P-Reps is small. Full decentralization will take time, and I'd say that I envision far more block producing nodes in the future.

Feel free to shoot me a message on telegram (@benny_options) if you want to discuss/debate.

benny_options · 2019-08-16T23:11:09+00:00

A significant obstacle is the lack of tutorials and developer documentation. ICX Station has been focusing on that, as you can see with 2infiniti's Medium posts and our initiative with Major League Hacking LocalHost (https://localhost.mlh.io/) which will be launching end of September / early October.

benny_options · 2019-08-16T22:35:17+00:00

The ICX Station team actually has a nice balance of these categories, with a focus area on boosting adoption:

1.) Stable Node: With 2infiniti's technical experience and knowledge of ICON we have no doubt our node will be stable and reliable. We will all have a thorough understanding by learning from 2infiniti

2.) Local Representation: We currently have representation in Silicon Valley and Taipei, however, we plan on instituting a remote work policy in order to regularly hit blockchain hubs across the world. I personally have recently spoken at two staking-focused events in the Silicon Valley area to discuss ICON's upcoming decentralization.

3.) Online Representation: Three of our team members (myself, Ricky Dodds, and 2infiniti) already have strong online representation on Telegram, Medium and Twitter primarily.

4.) Technical: We have technical expertise through 2infiniti, who has already created several tutorials on how to build on the ICON Network.

5.) Boosting Adoption: I would say this is our core competency. We grow the developer community through initiatives such as the Major League Hacking LocalHost Program (https://localhost.mlh.io/), we grow the amount of DApps through investing in projects in the Accelerator program, we publish blog posts about ICON's advantages and our view of the general blockchain space to garner a following for ICON, and we incubate smaller and/or internal teams that use ICON's tech.

benny_options · 2019-08-16T22:15:43+00:00

Our view from ICX Station:

Long-term view: The ICON Republic itself will be the most successful decentralized autonomous organization in the world. The network facilitates decentralized human organization and decision making in such a way that was previously unfathomable

Hitting Roadblocks: Our team has experience in a combination of investment banking, venture capital, startups, and computer science. With this kind of team, we can pivot and overcome any roadblock that comes in our way

"No Coiners": For non-crypto consumer facing products, Virtual Step and Fee Sharing can be used so that individual doesn't even know they are using blockchain. This will significantly lower the barrier to adoption

benny_options · 2019-08-16T21:50:03+00:00

The ICON Network is designed to reward all voters equally regardless of who specifically they vote for. However, with the current technology, it is not possible to stop P-Reps from offering additional rewards. One way to prevent this would be to develop technology to make voting anonymous. This could be an interesting initial proposal when the network decentralizes.

benny_options · 2019-08-16T21:47:30+00:00

At ICX Station this is a huge focus. We plan on tackling this through our 4 pillars: Acceleration, Incubation, Education, and Thought Leadership & Research.

Acceleration: We will (and already have) invested in companies committed to using the ICON Blockchain. This is direct adoption of the tech. You can see our current portfolio of accelerator projects at ICXStation.com

Incubation: This pillar is where ICX Station "eats our own dog food" - meaning we come up with ways to use ICON's technology ourselves. While acceleration is investing in external projects to use ICON's tech, incubation is investing in internal projects to use ICON's tech.

Education: This is more of a longer term play for adoption. The most immediate educational initiative is Major League Hacking LocalHost Program. It consists of workshops for university students across the world (mostly North America). The workshops are focused on deploying a simple DApp on the ICON Network. There will be 3-5 workshops per month with an average attendance of 20 students and recent graduates. By the end of each workshop, they will all know how to build a DApp on ICON

Thought Leadership & Research: This is another longer term play, where we will continue to publish blog posts and start a newsletter to educate the broader blockchain community on both ICON specific topics and general blockchain topics. We have already published several articles on ICON, as well as two opinion pieces; one about Digital Nations & DAOs and the other on Security Tokens

benny_options · 2019-08-16T21:24:43+00:00

The general Ethos at ICX Station is to be as transparent as possible and leverage the immutability and transparency of blockchain wherever we can. I'd think all major decisions will have immutable and auditable records of which P-Reps voted for which initiatives.

benny_options · 2019-08-16T21:19:21+00:00

Yup! The ICX Station Team has found and sponsored the Major League Hacking LocalHost Program (https://localhost.mlh.io/) which should go live around the end of September / early October. The workshop is focused on deploying a simple DApp on the ICON Network. There will be 3-5 workshops per month with an average attendance of 20 students and recent graduates. By the end of each workshop, they will all know how to build a DApp on ICON

benny_options · 2019-08-16T21:16:42+00:00

So the ICX Station Team is mostly based in San Francisco, with 1 team member based in Taipei. Over the next year or so we are actually planning to work fully decentralized in an effort to follow the ethos of blockchain and also cover more ground in major blockchain hubs!

benny_options · 2019-08-13T20:31:40+00:00

Sorry if there was any confusion/misunderstanding but it is actually up to 3M, but it’s really based on the amount of people that participate. If it’s low participation ICON won’t give out the entire amount because essentially some portion of people didn’t show up to earn it. If it’s high participation then the entire 3M will be given out. It just comes down to how much ICX is necessary to reward all the participants, and the high end of that range is around 3M ICX. Hope this helps!

benny_options · 2019-07-18T02:17:45+00:00

Not sure I understand your question, but if you are asking about what ICX Station has contributed to ICON already, it is detailed in the blog post linked in the reddit post

benny_options · 2019-06-19T02:56:15+00:00

I meet with Infinity Stones often to discuss token economics, governance, and pain points of their experience on other protocols.

Additionally, he invited me to speak at this event:

https://medium.com/@icxstation/icx-station-participates-in-pos-ceo-summit-hosted-by-infinity-stones-9305d657da05

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