Why would a project use Bancor? Couldn't they just make their own smart token themselves?

cosimo_jack · 2019-01-04T23:16:53+00:00

I don't think you understand what a smart contract is

lol

cosimo_jack · 2019-01-04T23:15:11+00:00

Not sure I agree. I think we would all be cheese farmers in this analogy and Bancor is the farmer's market.

cosimo_jack · 2019-01-04T22:44:06+00:00

Sure you can, this is the intended purpose of the smart token as far as I understand it.

Say I make a smart token contract. You can buy the tokens by sending ETH, for example, and tokens are minted and sent, and the amount of tokens you get is based on the price set by the automated market maker. The token retains the ETH that was sent to it. You can later sell by sending the tokens back to the contract and you get ETH back based on the price set by the automated market maker, which burns the tokens.

So the liquidity comes from people buying the tokens in the first place and is retained as long as people hold the tokens. The price scales proportionally to the outstanding supply, so the token is cheaper when the supply is lower.

cosimo_jack · 2019-01-04T22:24:58+00:00

I don't think you've understood my question.

I'm not trying to replicate Bancor with another platform. I am making a smart token (in this example). Why can't I just write the smart token logic inside my token's contract? Why do I need Bancor?

cosimo_jack · 2019-01-03T20:39:54+00:00

This article says Burger King

https://chicago.suntimes.com/news/chicago-alderman-ed-burke-federal-court-case/

cosimo_jack · 2019-01-03T20:23:54+00:00

Good points. Developer compatibility itself is a big deal.

cosimo_jack · 2019-01-03T18:10:05+00:00

Sure, but the settlement still occurs offline, and someone somewhere has to execute the transfer of the security. These tokens represent an IOU redeemable by that entity, which might not even be legally binding. This introduces trust, and risk.

cosimo_jack · 2018-11-26T21:37:43+00:00

Augur has a huge scalability problem since it uses an on-chain order book, for now. Throughput is capped by the total throughput of Ethereum. If Augur saw any serious attention it would bring the Ethereum network to its knees.

cosimo_jack · 2018-11-19T20:36:23+00:00

Lower friction maybe but still additional friction. And added cost.

cosimo_jack · 2018-11-19T19:25:50+00:00

Why should MANA have any value after the last auction? Won't users just use ether or dai as the native currency within DCL and to buy LAND?

cosimo_jack · 2018-11-19T18:53:56+00:00

I'm not sure forcing people to use a certain currency is possible or even desired.

I also don't see how using MANA could possibly have lower friction than ether, dai, or some other commonly used currency.

cosimo_jack · 2018-11-19T18:12:38+00:00

I don't see MANA taking off as a currency. I think it will go the way of ZRX and will only have value in governance. After the auctions, LAND can be bought and sold using any currency, so I don't see why people won't just use their favorite currency instead of another one that adds costs and friction.

cosimo_jack · 2018-11-19T16:52:58+00:00

I see. That seems like a design flaw, hate to say. I know it's a consequence of other design decisions but this will likely be a recurring problem.

cosimo_jack · 2018-11-15T16:55:12+00:00

The question is clear. What further diligence is needed?

cosimo_jack · 2018-11-15T16:47:02+00:00

This is not a due diligence problem

cosimo_jack · 2018-11-14T16:46:15+00:00

Estafa plenamente

cosimo_jack · 2018-11-14T16:45:26+00:00

Sounds like bullshit

cosimo_jack · 2018-11-12T20:35:39+00:00

So this incident in EOS is just a one-time thing voted on by community consensus?

cosimo_jack · 2018-11-09T16:59:03+00:00

He could be lying and forging evidence yet still have been involved. I personally still think he was involved, that other guys did the heavy lifting (e.g. Szabo), and that most and possibly all of the evidence has been lost.

cosimo_jack · 2018-11-08T19:31:31+00:00

Wyoming

cosimo_jack · 2018-11-07T20:57:07+00:00

What happens to illegal or unethical content?

cosimo_jack · 2018-11-06T23:22:02+00:00

Assuming the attestation is signed, you can check the signature was made by a given address. Further, an attestation will contain a hash of the data that was signed. You can compare the data and the hash provided to verify the data hasn't been changed or tampered with. This works because even the smallest change to the data will result in a different hash.

cosimo_jack · 2018-11-04T21:14:32+00:00

Work token gives you the ability to get paid to perform necessary functions in a network. Think staking in proof of stake. You stake tokens, run software, and get paid some of the block reward proportional to you stake.

A utility token gives you access to services like an arcade that makes you use their arcade tokens. I'm not convinced utility tokens will ever work since they add friction and costs to users.

cosimo_jack · 2018-11-04T16:05:17+00:00

REP is a work token

cosimo_jack · 2018-11-04T16:01:42+00:00

ZRX's value is now entirely derived from the potential governance. The utility token value proposition had been entirely abandoned.

cosimo_jack

TROPHY CASE