This referendum, if approved, will:
Send 245.5 WETH & 200,000 DAI from Acala to HydraDX treasury
Increase TVL cap to $10,000,000
Set weight caps of WETH & DAI to 100%
Add 245.5 WETH to Omnipool
Add 200 000 DAI to Omnipool
Set weight cap of WETH to 45%
Set weight cap of DAI to 45%
I ultimately decided to vote nay on this because I would like the see a larger buffer for HDX on future LP adds. I suggest making it so that HDX will be 6% after the LP add.
Good morning everyone - as you can see, this liquidity add was unsuccessful!
I'll leave this discussion open over the weekend to see if we can understand the reasons for it failing before moving forward in the new week.
We will also ensure more time for votes moving forward unless critical.
This team does not want discussion. I just noticed the one discussion that was going on In TG chat has been muted. Silence any opinion that does not match what the team wants. This is a real problem. Don't ask for discussion and then silence it. One downvote from me for every hour the user is silenced.
@7L1T...smJd
great to see you reach out!
I'd love to understand what it was about this proposal that you voted against - this way we can see if there are improvements that can be made before it is resubmitted in the coming days.
@lolmcshizz You stopped honest discussion on the chat this morning. Muting users is a way of hiding agendas. I will vote no on all proposals moving forward if the mute is not removed. You personally muted that user. Very offensive.
@7L1T...smJd with respect - I did not mute any discussion, I muted an individual (for 24H) who after hours of discussion was seemingly still not understanding and failing to make a point - it was incredibly disruptive to other users using the channel to seek support.
The discussion is still visible for all to see.
It would be useful if you could clearly state your reasons for rejecting the proposal so that we can identify any needed areas for improvement :)
@7L1T...smJd 🤡🤡🤡
”Hello Mr G” might have been the most uninformed “investor” I’ve ever seen. If we could enact governance to permanently mute that tg account I think it would unanimously pass.
@7L1T...smJd @lolmcshizz I do not have telegram. Can you share that discussion here?
Edited
@7Lb6...21YU
I am curious, what was he misinformed about? If you read what i read, The concern revolves around POL liquidity fee's collected and not returned to the token holders. According to the discussion, the token holders are the DAO, The DAO owns the liquidity, why would the earnings of the POL not be returned or shared with the Token holders? Even I would like to know this.
Someone shared the telegram chat log with me.
Here it is:
`Hello MR G, [2/25/2023 5:49 AM]
I have not seen any attempt by the team to get these assets here on chain organically as they swap for hdx and cause price to increase. I understand you were carpet bombed, governance checks do bring reality back close. All of those assets are on chain currently, how does it help to add more when trade volume is low?
Jose Crypto, [2/25/2023 5:54 AM]
have great liquidity so that there is no slippage in the assets that people usually own more, of course it matters
You have the ground prepared for what is coming is part of the strategy
What is the point then that the price of hdx is $1, if the other assets cannot take a trade of $1000
Dakauaiguy, [2/25/2023 5:55 AM]
Adding to Jose's comment, team is not swapping for HDX. Idk where you're getting that from
Jose Crypto, [2/25/2023 5:55 AM]
little by little we will add more native assets, such as ASTAR
and most likely ZTG too, USDT from statemint, iBTC
Hello MR G, [2/25/2023 5:59 AM]
this was not adding a new asset, or a new bridge. Acala cannot even get their stable coin to re-peg. I have money locked on an exchange in AUSD that cannot be moved until they clean up the exploit mess. Kucoin is holding me hostage.
Jose Crypto, [2/25/2023 6:00 AM]
acala is just the connection between wormhole and us
Dakauaiguy, [2/25/2023 6:02 AM]
Maybe re-read the referendum
Hello MR G, [2/25/2023 6:03 AM]
Hello MR G, [2/25/2023 6:04 AM]
Is this correct?
Hello MR G, [2/25/2023 6:04 AM]
why does the dex volume not report?
Jose Crypto, [2/25/2023 6:04 AM]
Cause the APIs in format that they want, not are done yet
Jose Crypto, [2/25/2023 6:05 AM]
I think so, is the volume from kraken
Hello MR G, [2/25/2023 6:07 AM]
site say about 160k in 24h volume
Hello MR G, [2/25/2023 6:07 AM]
or a little more
Hello MR G, [2/25/2023 6:08 AM]
with 5m in locked assets, I dont see a big shortage in liquidity?
Dakauaiguy, [2/25/2023 6:08 AM]
What
Dakauaiguy, [2/25/2023 6:09 AM]
Can you clarify this and the point you're trying to make? It's unclear
Hello MR G, [2/25/2023 6:12 AM]
How does the liquidity providers currently continue to be rewarded a % of the swap fee's when the amount on chain is diluted? Is this not understood. You are removing the reward when you add liquidity to 90% higher than trade volume
Hello MR G, [2/25/2023 6:13 AM]
if they own 1% now, soon 1/2 %
Dakauaiguy, [2/25/2023 6:14 AM]
Dakauaiguy, [2/25/2023 6:15 AM]
2: Yes, individual LPs are competing with POL LP
Dakauaiguy, [2/25/2023 6:16 AM]
So one perspective to have is your perspective: "My LP is being diluted by POL LP"
Dakauaiguy, [2/25/2023 6:17 AM]
another perspective to have is OUR LP is earning LP rewards
Hello MR G, [2/25/2023 6:17 AM]
Yield is what brings money on chain from new users
Hello MR G, [2/25/2023 6:19 AM]
Our team is looking for a 5m wage contract, where does the pol lp rewards go? certainly not back to we the investors? Or am I wrong?
Dakauaiguy, [2/25/2023 6:22 AM]
Sure attractive yields helps usher in new money, and so does an attractive service like low slippage, omnidirectional swaps, and depth of liquidity. That being said, there will be liquidity incentives soonTM
Dakauaiguy, [2/25/2023 6:23 AM]
Fees earned through POL LP are held and owned by the DAO. I know there are some cool ideas in the works to distribute fees to holders
Dakauaiguy, [2/25/2023 6:24 AM]
So there's a balance, how much do you want to distribute out fees earned vs how much do you want the DAO to continue to earn and build firepower
Dakauaiguy, [2/25/2023 6:24 AM]
this is a young protocol, how we grow it is up to us
Hello MR G, [2/25/2023 6:25 AM]
I want you to think of the patience of the token holders in this group, I dont get the sense that token price appreciation is a priority. I dont know about about the DAO, can you tell me things the DAO has done with the existing fee's its collected?
Dakauaiguy, [2/25/2023 6:25 AM]
i'm supportive of all ideas and proposals that grow and sustain the protocol for the long run. The long run may look like jogs and intermittent sprints in between
Jose Crypto, [2/25/2023 6:26 AM]
We are the dao sir
Dakauaiguy, [2/25/2023 6:26 AM]
I am a patient token holder in the group, pls don't exclude me from that
Hello MR G, [2/25/2023 6:26 AM]
Yes, You are a voter
Jose Crypto, [2/25/2023 6:27 AM]
the fees currently remain at the same LP, there is no way to remove them without withdrawing the liquidity, which will not be done
Dakauaiguy, [2/25/2023 6:27 AM]
Long time holder, since the beginning as well
Hello MR G, [2/25/2023 6:28 AM]
You dodged the question, what has been done as a community benefit with fee's collected so far for the benefit of the DAO
Dakauaiguy, [2/25/2023 6:28 AM]
ser we can do anything, you got a proposal? send it through
Dakauaiguy, [2/25/2023 6:28 AM]
you got good ideas, bringum up
Dakauaiguy, [2/25/2023 6:28 AM]
lets get you funded
Hello MR G, [2/25/2023 6:29 AM]
You suggested earlier we had received a benefit, was just asking what it was?
Dakauaiguy, [2/25/2023 6:29 AM]
pls pull my quote
Hello MR G, [2/25/2023 6:30 AM]
So there's a balance, how much do you want to distribute out fees earned vs how much do you want the DAO to continue to earn and build firepower
Hello MR G, [2/25/2023 6:30 AM]
firepower is money used to make a change or benefit
Dakauaiguy, [2/25/2023 6:31 AM]
"firepower" in that sentence referring to growing our stack to fund future costs/endeavors as a DAO
Dakauaiguy, [2/25/2023 6:32 AM]
like how a business would make money and reinvest it back into themselves
Dakauaiguy, [2/25/2023 6:32 AM]
propelling for future long term growth, not so focused on shortermism growth
The Tomiest Tom, [2/25/2023 6:32 AM]
Team is not being paid by fees but if you read the article it says the budget came from rounds of fundings. It lasted around two years and it helped created the solid foundation of the Dex, the backend, notably, which is now a V1.
The funds collected during the LBP are protocol owned liquidity. The team doesn't touch it themselves. Mostbof the Liquidity will be added to the Dex so we can trade comfortably. The team is kindly asking the community for 22% of these funds to keep developing which is definitely necessary for the Blockchain to continue running, releasing new cool edge cutting features and attracting attention and users. (Which ultimately is what can help token value, so I think team's effort is directed at the right place: development)
The Tomiest Tom, [2/25/2023 6:34 AM]
Now team is already working on next features and a v2 of the Dex.
Hello MR G, [2/25/2023 6:36 AM]
The token holds have a cost of ownership? The team needs funded, Thats inside the treasury details and proposals. Pol fee's need to fund the team, or build the value of the token. Which will ultimately pay the team as they have a stake in ownership for their efforts.
The Tomiest Tom, [2/25/2023 6:37 AM]
Team has a salary and a reasonable share of locked tokens, they can't access it now.
Dakauaiguy, [2/25/2023 6:37 AM]
also, team deserves more shares of the tokens if this is the route you wanna propose haha
Dakauaiguy, [2/25/2023 6:38 AM]
TEAM: builds everything
TG Chat: i deserve more rewards
Hello MR G, [2/25/2023 6:38 AM]
The other thing not communicated is what becomes from the earning of the dex, most dexes make massive amount of money when they have trade volume. This would pay for all development when the user base is here.
Dakauaiguy, [2/25/2023 6:39 AM]
imo, i don't think the team is appreciated enough. the tokenomic spread on how much they've allocated for themselves vs everyone else is the best in crypto. Throughout this whole process, they've been always looking out for us and having our back. Giving no one better deals than retail investors. I'll back them to the day i die on this
The Tomiest Tom, [2/25/2023 6:40 AM]
0.25% of the trading fees go to the LP pools
0.05% goes to the protocol
Hello MR G, [2/25/2023 6:40 AM]
Teams dont exist without hard capital. Prove me wrong. There would be no bootstraping needed in this case.
Dakauaiguy, [2/25/2023 6:40 AM]
Collectively. That's some good DAO togetherness thinking now
lolmcshizz | HydraDX, [2/25/2023 6:41 AM]
As the others have clarified for you already - the "fees" from POL sit in the pool building more POL, but with low volume these are small. The only other fees are transaction fees, which are even smaller, those go to the treasury. And protocol fees, which burn LRNA
Hello MR G, [2/25/2023 6:41 AM]
A large % of the lp fee's go to pol owned liquidity.
lolmcshizz | HydraDX, [2/25/2023 6:42 AM]
Reading back through the chat I'm unsure what point you are trying to make?
lolmcshizz | HydraDX, [2/25/2023 6:42 AM]
If you want higher volume we need more assets & deeper liquidity
Hello MR G, [2/25/2023 6:43 AM]
As I am stating, if the POL fee's belong to the dao, Buying LRNA does nothing for me.
Dakauaiguy, [2/25/2023 6:44 AM]
Buying LRNA?
Dakauaiguy, [2/25/2023 6:44 AM]
you can't buy LRNA
FZSS2842, [2/25/2023 6:44 AM]
Hi everyone. It’s been a long time since I checked my HydraDX wallet. The Staking option which was available under Network menu is no longer available now!! How can get my staking tokens back?
Hello MR G, [2/25/2023 6:45 AM]
Buying LRNA, no. This is 100% a team asset. We have no say in LRNA
Dakauaiguy, [2/25/2023 6:45 AM]
Hi, staking is done. Your HDX should still be in your wallet you were using for the testnet
The Tomiest Tom, [2/25/2023 6:45 AM]
You mean burning LRNA. And actually the mor LRNA is burned, the best it is for the price of HDX because it is paired against LRNA
Hello MR G, [2/25/2023 6:46 AM]
If you cant buy it, its not a pair
The Tomiest Tom, [2/25/2023 6:46 AM]
https://hydradx.substack.com/p/feeding-every-hydrahead
Dakauaiguy, [2/25/2023 6:46 AM]
what
The Tomiest Tom, [2/25/2023 6:46 AM]
Here, "game theory" section
Hello MR G, [2/25/2023 6:46 AM]
I understand its a stop loss
The Tomiest Tom, [2/25/2023 6:46 AM]
But you can sell it, so it has a price
Hello MR G, [2/25/2023 6:47 AM]
You only earn it by a loss
Dakauaiguy, [2/25/2023 6:47 AM]
yes, so idk what you're trying to claim here?
The Tomiest Tom, [2/25/2023 6:47 AM]
And so what. Still paired to other assets.
Dakauaiguy, [2/25/2023 6:48 AM]
LRNA is the protocol hub token which every other token is paired against
Dakauaiguy, [2/25/2023 6:48 AM]
man this convo has taken like 50 left turns
Hello MR G, [2/25/2023 6:48 AM]
And it earned by experiencing IL
The Tomiest Tom, [2/25/2023 6:48 AM]
Yes I'm not even sure what we're talking about.
Dakauaiguy, [2/25/2023 6:48 AM]
yes
Hello MR G, [2/25/2023 6:50 AM]
You guys are correct, all of these thing add value to the team.
Dakauaiguy, [2/25/2023 6:50 AM]
bro you losing me with "team" comments
lolmcshizz | HydraDX, [2/25/2023 6:50 AM]
The Tomiest Tom, [2/25/2023 6:50 AM]
Hello MR G, [2/25/2023 6:51 AM]
I am not talking about whats adding value for the team , i am talking about what adds value to the HDX, which is what i am holding.
Dakauaiguy, [2/25/2023 6:51 AM]
i don't even know what we're talking about anymore to be honest
lolmcshizz | HydraDX, [2/25/2023 6:51 AM]
Hello MR G, [2/25/2023 6:52 AM]
I can loose my entire investment and the team not miss one paycheck.
The Tomiest Tom, [2/25/2023 6:52 AM]
Then read again please. I'm pretty sure I answered that with different points. I'm pretty proud of myself here actually
lolmcshizz | HydraDX, [2/25/2023 6:52 AM]
Why are you losing your HDX?
Dakauaiguy, [2/25/2023 6:52 AM]
do you think the team owns all the LRNA? is that what you're suggesting?
lolmcshizz | HydraDX, [2/25/2023 6:52 AM]
Did I miss something
The Tomiest Tom, [2/25/2023 6:52 AM]
Team needs to be paid salaries. Not sure what to tell you.
Hello MR G, [2/25/2023 6:54 AM]
There is no focus on the token appreciating, or yield for LP holders, which is what attracts new people to the ecosystem.
lolmcshizz | HydraDX, [2/25/2023 6:54 AM]
Says who? Is this just your view?
The Tomiest Tom, [2/25/2023 6:54 AM]
Not true, liquidity Mining programs are currently being tested on Basilisk first.
lolmcshizz | HydraDX, [2/25/2023 6:54 AM]
What has lead you to this incorrect view?
Hello MR G, [2/25/2023 6:58 AM]
Look at a price chart. Not going up. we have retrace almost 50%
lolmcshizz | HydraDX, [2/25/2023 6:59 AM]
Right. That's due to market forces, I'm asking about your comment "There is no focus on the token appreciating, or yield for LP holders, which is what attracts new people to the ecosystem."
lolmcshizz | HydraDX, [2/25/2023 7:00 AM]
Read our latest blog for an insight into all of the things we are doing to improve the product and attract new people:
https://hydradx.substack.com/p/the-future-is-hydrated
Hello MR G, [2/25/2023 7:01 AM]
When you add liquidity, it decreases the share of each lp holder. We are trading at 5% of locked value. You tell me the benefit for the LP holders for doing this?
Hello MR G, [2/25/2023 7:04 AM]
If the staking returns, This will help.
Dakauaiguy, [2/25/2023 7:04 AM]
there are future plans for this
rtfw, [2/25/2023 7:04 AM]
Dude just sell everything if you don't like this project
Hello MR G, [2/25/2023 7:04 AM]
You dont me to leave
lolmcshizz | HydraDX, [2/25/2023 7:04 AM]
Do you understand that actual volume won't come without sufficient liquidity?
lolmcshizz | HydraDX, [2/25/2023 7:05 AM]
Right now Omnipool is a trading hub for ants
lolmcshizz | HydraDX, [2/25/2023 7:05 AM]
If we want real volume we need real liquidity
Hello MR G, [2/25/2023 7:06 AM]
We have enough to do 10x what we are comfortably. which would pay LP holders and the POL. Bringing on new assets will attract more users
Dakauaiguy, [2/25/2023 7:08 AM]
bringing on new assets is adding liquidity which is also what you're against
lolmcshizz | HydraDX, [2/25/2023 7:08 AM]
Dude, we won't get 10x volume regularly with this liquidity
lolmcshizz | HydraDX, [2/25/2023 7:08 AM]
Like I say, this is liquidity for ants
Hello MR G, [2/25/2023 7:08 AM]
We have eth, btc and dai available . what was new?
Dakauaiguy, [2/25/2023 7:09 AM]
DND
lolmcshizz | HydraDX, [2/25/2023 7:09 AM]
People aren't going to trade frequently if they're paying multiple % in slippage
Hello MR G, [2/25/2023 7:09 AM]
Dakauaiguy, [2/25/2023 7:10 AM]
DND is towards the bottom
lolmcshizz | HydraDX, [2/25/2023 7:10 AM]
Increase liquidity > reduce slippage > reduce costs to trade > get more trade
lolmcshizz | HydraDX, [2/25/2023 7:11 AM]
It was proven extensively that uniswap dropping LP fees on some pools actually increased trade volume so much that LPs actually earned more fees
Hello MR G, [2/25/2023 7:11 AM]
My screen does not show, send me a screenshot
Dakauaiguy, [2/25/2023 7:11 AM]
You don't want a screenshot of Deez Nutz Dude
Dakauaiguy, [2/25/2023 7:11 AM]
sorry, i had to haha
Hello MR G, [2/25/2023 7:12 AM]
I have been offering the dialog that is wanted, and i am offered Deez Nuts
lolmcshizz | HydraDX, [2/25/2023 7:13 AM]
Ser you're not offering anything that's wanted right now, just a lot of confusion it seems lol
Dakauaiguy, [2/25/2023 7:13 AM]
i joke, just feels like this convo has been going in a circle. you've asked, we've responded, you've asked, we've responded again
Hello MR G, [2/25/2023 7:13 AM]
You are not listening.
lolmcshizz | HydraDX, [2/25/2023 7:14 AM]
Are you saying that you are our anonymous referendum blocker and you did it because you think adding more liquidity is against your personal interests?
Hello MR G, [2/25/2023 7:14 AM]
You need to work that out with them , I am telling you what i see from my vantage point.
lolmcshizz | HydraDX, [2/25/2023 7:15 AM]
Okay, well FYI you should get down from that vantage point because I think you've gotten altitude sickness or summit
Dakauaiguy, [2/25/2023 7:15 AM]
eye see
lolmcshizz | HydraDX, [2/25/2023 7:16 AM]
@Kc8iir Increase liquidity > reduce slippage > reduce costs to trade > get more trade
Hello MR G, [2/25/2023 7:16 AM]
i understand this
lolmcshizz | HydraDX, [2/25/2023 7:17 AM]
Sooooooooo why are you moaning that higher liquidity reduces your LP fees
lolmcshizz | HydraDX, [2/25/2023 7:17 AM]
taps sign
Hello MR G, [2/25/2023 7:18 AM]
Only the team gets yield, I am not allow to get yield?
lolmcshizz | HydraDX, [2/25/2023 7:18 AM]
...
lolmcshizz | HydraDX, [2/25/2023 7:18 AM]
taps sign
lolmcshizz | HydraDX, [2/25/2023 7:18 AM]
This applies for everyone that is LPing
Hello MR G, [2/25/2023 7:18 AM]
Correct
lolmcshizz | HydraDX, [2/25/2023 7:18 AM]
The "team" are getting nothing from this
Hello MR G, [2/25/2023 7:19 AM]
Well, you said the teams are token holders, which is part of the DAO, who gets the LP POL share of the fee's, what a circular argument
Samzonite, [2/25/2023 7:20 AM]
Where and how I can check my account balance from 2021, have to calculate how much HDX got from staking etc and trying to find what was my start balance in 2021 ?
lolmcshizz | HydraDX, [2/25/2023 7:20 AM]
But if your argument is that the team gets the fees because they're token holders then that means you also get the fees because you are a token holder in which case what's the issue
Hello MR G, [2/25/2023 7:21 AM]
I dont have control of any of those fee's
Hello MR G, [2/25/2023 7:21 AM]
Not in my wallet
lolmcshizz | HydraDX, [2/25/2023 7:21 AM]
Neither are they in the "teams" wallet
lolmcshizz | HydraDX, [2/25/2023 7:21 AM]
They're in the omnipool just like your LP is
Hello MR G, [2/25/2023 7:22 AM]
Well, sherlock, now we have a mystery to solve
lolmcshizz | HydraDX, [2/25/2023 7:22 AM]
There is no mystery here even though you seem to be struggling somewhat
Hello MR G, [2/25/2023 7:22 AM]
I dont have an accounting record of that in front of me.
Hello MR G, [2/25/2023 7:24 AM]
what is the benefit of putting the fee's back into Omnipool LP's?
lolmcshizz | HydraDX, [2/25/2023 7:25 AM]
Okay so firstly, they're not "put back" - when fees are taken from trades they remain in the pool.
This is a very base layer piece of information you need to be aware of
lolmcshizz | HydraDX, [2/25/2023 7:26 AM]
Secondly, greater amounts of assets in the pools means greater amounts of POL, which means greater amounts of fees can be earned. Which means greater amounts of POL. Etc etc
Jose Crypto, [2/25/2023 7:26 AM]
Is not possible cause we dont have explorer at that moment, maybe you can search in Etherscan, the xHDX amount that you have
And multiply x3 ( due the x3 proposal) (https://hydradx.substack.com/p/road-to-hydration-part-3), so thats would be your "initial amount"
Hello MR G, [2/25/2023 7:26 AM]
Earlier it was said the DAO owns the POL, and the fee's benefit the DAO?
lolmcshizz | HydraDX, [2/25/2023 7:26 AM]
So all HDX holders (the ones who control the protocol) have more POL/ fees
lolmcshizz | HydraDX, [2/25/2023 7:27 AM]
Yes HDX holders = the DAO
Dakauaiguy, [2/25/2023 7:28 AM]
incase we forget
Hello MR G, [2/25/2023 7:28 AM]
So the wallet address of the DAO reinvestment of fee's into the LP can be seen where?
lolmcshizz | HydraDX, [2/25/2023 7:31 AM]
There is no "reinvestment" - it never leaves the pool
lolmcshizz | HydraDX, [2/25/2023 7:31 AM]
You can see the share of the pool owned by omnipool & treasury, add them together and that's what the DAO controls
Dakauaiguy, [2/25/2023 7:34 AM]
this one is more on-brand. double post for extra emphasis
Hello MR G, [2/25/2023 7:36 AM]
The value of HDX is not correlated to the value the value locked in any POL or the treasury, or am i wrong?
Dakauaiguy, [2/25/2023 7:43 AM]
market determines value of HDX my guy
Hello MR G, [2/25/2023 7:49 AM]
You said earlier the POL fee's benefit the DAO. If the fee's stay in the pool, which does not make the value of hdx go up, where is MY benefit.
Dakauaiguy, [2/25/2023 7:51 AM]
imagine this:
You and I own a business together. We sell products and make a profit.
Instead of taking that profit and spending it on strippers and cocaine, we hold onto it to reinvest it in the future.
You and I winning.
Jose Crypto, [2/25/2023 7:51 AM]
omg dude, as commented above several times
later the community can propose what to do with the fees collected
However, in this instance I am against their use, since the priority would be to generate more POL, so that later on we have more options and not "kill" the possibility of evolving.
Dakauaiguy, [2/25/2023 7:52 AM]
although, idk if i wanna do business with you, you'd rug me at the first paycheck
Hello MR G, [2/25/2023 7:52 AM]
I have not sold one HDX
Jose Crypto, [2/25/2023 7:53 AM]
the Omnipool was launched 1 month and a half ago
obviously there are many things to improve
Jose Crypto, [2/25/2023 7:54 AM]
In the last proposal there are several things that will make HDX more useful, but now the important thing is to generate traction for Omnipool and more POL
Hello MR G, [2/25/2023 7:54 AM]
Businesses have what is called an EQUITY line at the bottom of the balance sheet. My equity does not increase one cent from the fee's left in the POL. Sounds like i am a customer, not a partner.
Jose Crypto, [2/25/2023 7:54 AM]
@Kc8iir
Dakauaiguy, [2/25/2023 7:54 AM]
you're literally an owner.
Jose Crypto, [2/25/2023 7:54 AM]
you can propose the idea yourself
Dakauaiguy, [2/25/2023 7:55 AM]
if you're vote is to turn on revenue distribution right away, vote for it. and the other owners will vote as well
Jose Crypto, [2/25/2023 7:55 AM]
Go to Subsquare, start the discussion, get feedback and start referedum if think will pass
Hello MR G, [2/25/2023 7:55 AM]
Those are protocol funds, I cant sell one of them
Dakauaiguy, [2/25/2023 7:55 AM]
omg
Hello MR G, [2/25/2023 7:55 AM]
They are not mine
Hello MR G, [2/25/2023 7:56 AM]
You claim they are for my benefit, i am asking to understand the claim, Its not baseless.
Jose Crypto, [2/25/2023 7:56 AM]
https://t.me/hydradx/135916
Jose Crypto, [2/25/2023 7:56 AM]
Read it again
Dakauaiguy, [2/25/2023 7:57 AM]
we've exhausted ourselves explaining haha
Jose Crypto, [2/25/2023 7:57 AM]
https://t.me/hydradx/135926
lolmcshizz | HydraDX, [2/25/2023 7:58 AM]
Imagine there are 4 people:
Alice
Bob
Charlie
Dylan
lolmcshizz | HydraDX, [2/25/2023 7:58 AM]
These 4 people own an equal share of a nice juicy pie
lolmcshizz | HydraDX, [2/25/2023 7:58 AM]
Because they each own 25% of the $PIE token, which is the governance token of the pie
lolmcshizz | HydraDX, [2/25/2023 7:59 AM]
Through the $PIE tokens, they get to determine what happens with the pie
lolmcshizz | HydraDX, [2/25/2023 7:59 AM]
One day, the pie miraculously grows so there is now a much bigger pie 😲
lolmcshizz | HydraDX, [2/25/2023 8:00 AM]
Alice Bob Charlie and Dylan still own 25% of the pie each
lolmcshizz | HydraDX, [2/25/2023 8:00 AM]
But the pie is much, much bigger!
lolmcshizz | HydraDX, [2/25/2023 8:00 AM]
Now their $PIE tokens oversee control of a much bigger pie
lolmcshizz | HydraDX, [2/25/2023 8:01 AM]
They also have a lot of filling sitting in the fridge
Hello MR G, [2/25/2023 8:02 AM]
POL earned fee's do not make the value of HDX increase. Increasing the value of hdx would allow a token owner to sell and remove POL, how would it benefit the team if that 10m token guy could sell and remove that much money from the ecosystem? This is why making the value go up is not a priority.
lolmcshizz | HydraDX, [2/25/2023 8:02 AM]
But one day Bob says he doesn't want to add any more filling into the pie because he doesn't benefit from it because he can no longer see the filling
lolmcshizz | HydraDX, [2/25/2023 8:02 AM]
Even though it would mean he's got a much bigger pie
lolmcshizz | HydraDX, [2/25/2023 8:03 AM]
Bob will only let more filling be added to the pie if its directly into his quarter of the pie
lolmcshizz | HydraDX, [2/25/2023 8:03 AM]
Don't be like Bob
Hello MR G, [2/25/2023 8:04 AM]
There is no I in team, only an I in WIN
Dakauaiguy, [2/25/2023 8:05 AM]
you in the wrong place then :)
Dakauaiguy, [2/25/2023 8:05 AM]
lolmcshizz | HydraDX, [2/25/2023 8:06 AM]
There is also no "Hello MR G" in "I've been muted for 24 hours" but it's happened anyway`
Dear “Hello MR G”,
It sounds like you were asking:
My thoughts:
As a random investor, assessing the value of the HDX token, I would do an analysis similar to what is done for stocks.
In addition to other things, I would consider the price, market cap, earnings, total amount of capital owned by HDX holders (POL), and some assessment what can be expected in the future.
If POL is valued more than the fully diluted valuation of HDX, then HDX looks like an attractive buy. HDX shareholders could vote to dissolve the enterprise and come out at breakeven or better.
If earnings are high, even if POL is less than fully diluted valuation, then HDX looks like an attractive buy because POL is increasing and I can anticipate my investment will become more valuable over time.
By letting fees earned by POL accumulate in the omnipool, we are doing the following:
A. increasing the total capital owned by HDX holders (increasing POL). This makes HDX look more attractive to potential new investors.
B. increasing the liquidity in the omnipool which reduces the price change on large trades. This increases the value of our product and makes us more competitive. Traders, and thus volume, tends to move toward the most efficient systems. A traders bottom line is to receive as much of asset Y for as little of asset X as they can. Reducing the price impact means traders get more Y for less X. This helps us attract more users. More users means more volume. More volume, more fees. More fees, more earnings for HDX holders (POL increases faster).
C. increasing the fraction of LP that is protocol controlled. This reduces the amount of LRNA sold back to the omnipool (unless HDX holders vote to sell LRNA back). Less LRNA sold to the omnipool makes it more likely that the HubAssetImbalance can reach zero and protocol fees can be directed toward increasing the value of HDX. Less LRNA sold back to the omnipool reduces the liquidity drainage experienced by LP providers. LP providers bottom line is to earn as much yield as they can. LRNA sellbacks decrease yield.
It could be argued that item C also discourages outside LP because a smaller fraction of fees go to outside LP providers. This is true, but generally balanced by the increased volume and trading fees that occur in places with low slippage/price impact. Traders want MAX LP. LP providers want MIN LP, but MAX trade volume. Ultimately, its traders providing the yield, so increasing LP and reducing friction (fees) actually ends up increasing yield except in fully saturated environments that cannot gain additional volume.
A good example is uniswap v3. When the option to reduce fees was added, volume increased such that it is generally more profitable to use the lower fee setting. LP providers charging lower fees see enough extra volume to more than counterbalance the reduced fee per trade.
Edited
@amphibiousParakeet Thank you for bringing the chat log here. I was expecting a long nasty exchange but surprisingly it seems very calm and level. I did not see any name-calling or personal attacks in the chat other than a weird deez nuts mention. I can appreciate you reading this thread and breaking it down. You have isolated a lot of points from the conversation. I was unaware of the benefit the team was offering by not paying LRNA on the POL.
We here not for fight but for succes of Hydra project ) So i think issue solved and closed ?
Mostly abstaining in protest of the tiny HDX buffer this leaves. ❤️
Edited