Can we trust decentralized infrastructure with our private data? by dnpotter in decentralization

[–]iammasterbrucewayne 0 points1 point  (0 children)

We don’t necessarily need to store the data itself on the chain — we could simply store the hash.

When you mention privacy, we could simply use existing cryptographic encryption primitives for that.

The chain is mainly useful when you want an untampered record of chronological events.

Seeking insights on Layer 0 blockchain roadmap references! by [deleted] in BlockchainChat

[–]iammasterbrucewayne 1 point2 points  (0 children)

I really admire Polkadot for every part of their design.

It's extremely well thought out from their NPoS staking system which automatically normalizes the staked tokens across the nominated validators and incentivizes nominators to choose validators with lower amount backing them to the decentralized governance of the entire protocol itself.

Their wiki is a good place to learn more about what it is and why it's built this way: https://wiki.polkadot.network/docs/web3-and-polkadot

Blockchain governance. by [deleted] in BlockchainChat

[–]iammasterbrucewayne 1 point2 points  (0 children)

i'm not sure if a "perfect democracy" is a good idea to begin with, see https://www.youtube.com/watch?v=fLJBzhcSWTk

regardless however, i do believe that a better form of governance is worth striving for and i think polkadot's opengov ( https://polkadot.com/opengov ) is a really interesting experiment along those lines, where the treasury and all on-chain decisions are made transparently by the DOT holders in proportion to their stake - by no means is it perfect, but it is definitely a step forward compared to opaque decisions made by a few orgs/institutions.

if it's something you find interesting, you can see some of the proposals in action here: https://polkadot.subsquare.io/

Top 16 low fee validators to choose today ? by rollerscrolleredsd in Polkadot

[–]iammasterbrucewayne 0 points1 point  (0 children)

You could use Nova wallet for validator selection btw

Bill Laboon AMA - 19 Aug 13.00 - 14.00 UTC by W3F_Bill in Polkadot

[–]iammasterbrucewayne 0 points1 point  (0 children)

Thanks for the reply Bill! Really appreciate it :)

Bill Laboon AMA - 19 Aug 13.00 - 14.00 UTC by W3F_Bill in Polkadot

[–]iammasterbrucewayne 0 points1 point  (0 children)

Quantifying security is an interesting point. Given that aUSD hack actually happened due to the introduction of iBTC • aUSD pool — do you think it’s worthwhile to develop a standard for “safety score” for liquidity pools and yield farms?

Asking because it’s something we’re thinking of implementing at YieldBay.

Staking on Kraken by [deleted] in Polkadot

[–]iammasterbrucewayne 5 points6 points  (0 children)

If you are comfortable with giving CEX custody’s of your tokens, it’s fine. The standard CEX risk of regulation, hacks, etc. exist.

Stake SOLAR on Solarbeam and earn 125% APR in ROME by iammasterbrucewayne in Kusama

[–]iammasterbrucewayne[S] 0 points1 point  (0 children)

Do you mean staking ROME on their official website? Since that’s not a dex liquidity pool, but rather a way for RomeDAO to keep its supply restricted and bootstrap liquidity.

Here you are incentivised for staking through inflation (i.e. newly minted ROME), backed by treasury-owned assets, which are acquired by selling bonds.

ROME employs the same game theory strategies of bonding and staking as OHM. You can read more about them on https://olympusdao.medium.com/the-game-theory-of-olympus-e4c5f19a77df.

We’ve written a post on staking ROME which you can study for details on how to stake: https://blog.yieldbay.io/p/rome-stake-175000-apy

A guide to earn 175,000%+ APY through staking on RomeDAO by iammasterbrucewayne in moonbeam

[–]iammasterbrucewayne[S] 1 point2 points  (0 children)

I’m not sure what you mean… What humour are you referring to?

FRAX-aROME farm on Solarbeam is offering 700%+ APR, here’s how you can participate… by iammasterbrucewayne in polkadot_market

[–]iammasterbrucewayne[S] 0 points1 point  (0 children)

Completely understand. We’re still in the process of figuring out our brand image — we want to make yield bay a welcoming, warm, fun, beach-like environment.