Thanks for your respons Amit, super cool to know you are reading this as well and also taking part in the discussion
^This could be superā¦ Itās real yield, voted on by the community, has a positive effect marketing-wise, and a is nice path going forward in decentralization.
Giving yield in stable coin
Maybe a stable coin can be a (non regulatory risk) option if itās not one of the ādollarsā? (USDC/USDT). For example; Redacted Cartel is launching (Q1) a stable coin, called ādineroā. This coin is over-collatorized by staked ETH. Something like that could maybe be an option?
Oh, can you show some examples of LSD that rewards in native tokens and why exactly Stader canāt compete with them?
Cause I can give you dozens of projects where governance tokens earned by the same staking governance tokens were sold so hard and fast that the price went 90% down so the rewards from staking simply were devalued. Letās start with ICE (Popsicle Finance). The price went to 61$ and then back to todayās 0.4$. How many happy investors holding and staking ICE today in the hope to see the price go back at least to few bucks
WHITE the same pictureā¦
You see earning governance tokens, is not a real yield, thatās why GNS / GMX / BFR / GOVI / CAP choose other methods.
@Jens DINERO could be a long time away before becoming tested and mainstream. DAI by Maker is an option. Currently only has 4% of total market share for stablecoins. FRAX hasnāt cracked 1% yet but has a very interesting vision.
@WaXTeP me and you are saying the same thing I think. Stader having governance only can still compete with all LSD protocols. All depends what the market values as best growth potential.
Some governance only do well, some donāt. I donāt think it had much decision powerā¦ until just now. The ones that come out with it at least have a boost of extra potential.
Trueā¦ they say Q1, but indeedā¦ those things can take some time.
Anyway, I am sure there are more options like DINERO, probably that I am not aware off. But wanted to mark that something like that could be an option (or indeed Dai/frax)
And also my experience isnāt that good with rewards in Native tokens/market buysā¦ (pathdao, Pokt).
In the end I think āassumptionā that 90% would be super happy with rewards in ETH as alternative of a stable coin.
Agree with Jens, dont like the rewards to be in SD, chances are big that users sell the rewards and create a spiral down pricingā¦
Think it would be a good idea to have some choice between eth and stables or a mixture if possible.
Thereās no way you guys are bringing staking on Eth mainnet after all this time, bring it on low cost chain like Polygon first. Many of the users wonāt be staking with high gas, a lot of revenue is cut down just by the cost of approving and staking. Didnāt even take into account buying on Eth or bridging to Eth. Only favourable for large holders, if you guys want to just take whales and give them voting power to rig rhe voting system, Iāll be leaving stader ecosystem. Let us common people which are a lot vote too by having xSD on polygon or atleast bsc
@Fareesa , I really value your input. I am a multichain person (if my name didnt give it away enough), I first went out of ETH when people didnt really care about other chains out there, and in time turned out to be a prescient move.
We totally hear you and of course the idea is to end up with a multichain staking mechanism, so it doesnt really matter what chain you are in, you can stake and get a portion of your revenue.
Some alternatives are:
to share revenue generated across all chains equally to stakers in all chains (e.g, that if we are making 1 million USD per year in revenue and there are 10 million USD of SD staked, all SD stakers get a 10% APY no matter what chain they are staking)
to share revenue generated across chain X only with stakers of chain X.
which of the two you think is best and why?
Lastly, I could notice a bit of bitterness in your words. Truly, there is no need to, we work hard to listen the community and execute accordingly, and we are so excited about the decentralization roadmap that we put in place months ago. We will continue to work hard to live up to your expectations and prove you, like Spyros likes to say, that we are a team of shipooors.
Haha thanks for the words, people like you are who truly push the industry forward to new people. I was a bit bitter but it had reasons, every other product when they launch staking they do take time but also consider totally pleasing the users and considering their needs. xSD is launching on Eth first but I do think it should be Eth and Polygon for the start, then other chains later, itāll give the bigger users who can afford gas, I can as well but doesnāt mean I will, there are many like me, adoption is increasing on L2ās and you know it. What I think is for the product to have great success from the start itself, it should be on two chains, you guys did take time but when you announced itās just going to be on eth, I was a but disappointed. Mainly because thereās no proper governance now and when there will be with xSD, itāll just go to whales. Everyone should have a vote, and it is possible if xSD is on a low gas chain like polygon, and itās debatable too cause Polygon brought a lot of TVL for stader. Your competitor Lido is on it too, to capture a lot of value. L2ās are getting bigger day by day, and indeed theyāre the next big thing.
And my other one more reason was, and you guys should work on it as well. Itās the user connection to the team and project, thereās no proper support on discord, no one to really moderate and answer and talk about the project to people, everyone even including geniuses need their questions answered to get properly into the project, also the marketing is not too great, it is their but not that good. Interacting with the community and being there always is as important as shipping good products. Thanks
And Iād like the first option, and I can also say others will choose that as well. Stader isnāt a yield aggregator or some other yield service to offer chain specified yield.
The yield should he same for SD, no matter the chain, this way it wonāt be discriminated for the users, itāll be open, as SD is the main token of all the products you guys offer, this makes sense.
Is this the reason xSD will happen on ETH? I generally oppose requiring this happen on mainnet as gas could get pretty crazy. Right now due to crypto winter gas is low but 100gwei is the normal gas we can expect once things recover. Weāre probably talking about a $50-$100 fee to stake/unstake depending on the complexity of the operation if so.
Possibly there could be a way to stake/unstake on other chains like you do with Matic on Polygon? That would allow users on Staderās other chains to add funding while avoiding high gas costs.
Does this mean that weāre still pretty early in the release process or that most of those individuals (team, investors, etc) havenāt sold off?
Going into ETH Iād suggest that 50% or more of airdrops be directed to ETH because thatās the cash cow compared to the other chains. Of course my own maticx-matic will suffer.
Hey @FlexChris thanks for your comment. Maybe you missed this post, where lots of insights about the SD token release schedule (TRS) are shared.
In a nutshell: While most of the SD token is yet to be released, the release schedule is not aggresive, with no big unlocks to be done.
Furthermore, both private investors and team decided to postpone their unlocks in the light of Terraās collapse, in what I believe is a firm testament of their alignment on the long-term potential of the protocol.
(or indeed Dai/frax)
