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54358559 No.54358559 [Reply] [Original]

WHat is the point of the token if the forums and sneedposting as a dev exists? What are we even supposed to vote on? Ceazor says LPs? lmao what. How's that working out longterm for OP holders and traders? Velodrome is rekt right now, most of the solidly clones are.

re: https://forum.arbitrum.foundation/

>> No.54358636

>>54358559
many projects include LP tokens in their governance votes instead of just the naked token. he's proposing that the DAO select certain DEXes and certain pairs (presumably just ARB/ETH to start) that would be eligible for governance. I don't know if this is technically possible (Arbitrum governance is actually real and on-chain, not pseudo snapshot governance like most DAOs use) or if it is safe/secure for governance to allow LP positions to vote

>> No.54358692

>>54358636
right but, let's just compare to optimism, which is centralized around the granting foundation. as far as I know now, there is no such granting org on arbitrum because the chain is now entirely decentralized according to their last statement during the drop on twitter. offchain labs said theyre just a serivice now so how would these veNFT positions be created at this point without incentivization in the form of constant grants like on OP?? How the hell are we supposed to select LPs from varous different companies on arbitrum/multichain? And would the reward be more dilutive ARB? There is no Velodrome on optimism - there are like 10 that all have you lock VE positions. So, arbitrum would now be like that? That doesn't seem likely to me at all.

>> No.54358718

>>54358692
I don't think he's suggesting veNFTs, rather the LP tokens themselves would be eligible to vote like ARB is now. In an even more optimistic version, you would be able to farm with your LP on any one of the yield-generating DEXes and still participate in governance. But I have to imagine that the whole idea would be difficult to implement even in its most basic form

>> No.54358769

>>54358718
okay so you're saying that the amount of arb an individual has would correlate to their voting power over which LPs are receiving the votes to be on dexes or that an LP number (ARB-ETH for example) wold be used to vote for what? but where would the incentives be to vote on each lp? would their be bribing like on bethovan x? I mentioned veSOLID nfts because I don't see how arb token has any intrinsic values as of right nwo.

>> No.54358821

>>54358769
with this proposal the DAO would choose DEXes (like Camelot, Ramses, Sliz, whatever) and a pair (like ARB/ETH) and that pair would be allowed to vote on Arbitrum governance. this alone is probably not feasible. taking it a step further and allowing people to actually farm with that LP and still be able to vote would be very difficult I think.

in this ideal scenario, the DEX would vote to incentivize the pair just like they vote for any other pair

>> No.54358834

>>54358821
okay that sounds like a shit load of work and if it was something doable why wouldn't other chains do that too?

>> No.54358856

>>54358834
beyond being hard to implement (maybe if the system was designed for it from the beginning...) I also feel like there is something insecure about allowing LPs to vote. nothing immediately comes to mind but I feel like it could allow people to game voting power somehow

>> No.54358959

>>54358856
roosh/batman comes to mind. yeah if someone got enough votes they could just vote on their own pools only and without incentivizations like bribes to drive hype and liquidity following hype I don't see it happening. also, who would build this out when all the dexes are desperately just trying to hold on?

>> No.54359306

>>54358959
>also, who would build this out when all the dexes are desperately just trying to hold on?
>FAD id
The universe has answered it seems

>> No.54359334

>>54358559
It could be used for a truly democratic system of politics but only I can see that and the human race will probably never even think of it.

The right kind of innovater just isn't attracted to the crypto space.