1hive - Shapeshift Partnership (HNY-FOX LP) Vote 1 of 2

[Monstrosity]

Proposal description:

An accurate and detailed description of what you are proposing

This vote is requesting approving the following action:

350HNY to be sent to a 4 of 6 partnered multisig where 3 members are 1hive and 3 members are shapeshift.

Intentions are:

• Pending the outcome of Shapeshifts vote, 335,000 fox to be sent to the multisig.
• A second 1hive vote will be posted after the passing of the shapeshift and 1hive vote to send a matching amount of HNY needed to pair with the 335,000 fox.
• Liquidity will be added to HNY+FOX LP
• LP sent to 1hive DAO
• Shapeshift intends to do the same resulting in approximately $400k in HNY-FOX liquidity on Honeyswap
• At anypoint we are unable to follow through with these intentions then HNY will be sent back to the DAO.

Proposal Rationale
Detailed rationale for why this proposal exists and should matter to HNY holders, the 1Hive community, and/or DAO ecosystem

An Opportunity to Partner two Communities and Strengthen the 1hive Treasury

DAO treasuries, as liquidity-providers, have predictable and strong hands. Two DAOs partnering to provide liquidity is particularly powerful. This is where two DAOs compose some kind of agreement about exchanging and providing liquidity. Gnosis & DxDAO is an example of one of these D2D joint liquidity partnerships PrimDAO is building tooling and infrastructure to make some of these strategies easier and more robust to employ you can read more here I would love to hear from 1hive on any furthe…

Funding Information (For Funding Proposals)

Amount of HNY requested: 350HNY approximately $105,000

Ethereum address where funds shall be transferred:
Gnosis Safe 0x25A6343E69CE6cd7a2c34536595341Cb6b038c5F

More detailed description of how funds will be handled and used:
A 4 of 6 multisig once fox token is added (currently a 3 of 5) wallet is set up with the following members:

Monstrosity (1hive)
@luigy (1hive)
@paul (1hive)
@willyfox (fox)
JonisJon (fox)
mperklin (fox) - 6th member to be added

[ColdTruthCultureNFTs]

I have read both proposals for partnership with Shapeshift and 1Hive and I am interested to see what a community swap and join venture looks like between the two DAOs. I can see the potential and benefit that it could have for both projects without extracting value so I have added my support to this proposal.

[kingsdami]

Great work … liquidity would be worth it…

[project_uwb]

Great… Supported with my small stack. I am really looking forwards to the Shapeshift vote and for the final proposal here to get that liquidity up in Honeyswap. This is such a unique collab and I really want to see this work so we can have this type of collab with other DAOs and make this a theme!

[LPX]

Final step before we go into official voting!

[SCP-19] [Official Ideation Thread] Incentivized Liquidity Mining Program for...

[Eth_Man]

You guys are aware of the connections shapeshift has to possible crypto criminal activities. Including money laundering.

Crypto Crime Cartel: Erik Voorhees, ShapeShift and the Anarchists - CoinGeek

Honestly folks I see deals being offered that are basically offering 1Hive to sidle up to projects that are on the marginal to criminal side of crypto here.

Does anyone do research on these projects. Olympus, Shapeshift, etc.?

If this is the potentially shady road 1Hive is going to go down then I will be seriously considering pulling up remaining investment stakes and moving on to projects that are paying attention to credibility and history of whom they are seeking to partner with.

FYI: Just because someone is an anarchist doesn’t mean they are criminal, but Voorhees, and Shapeshift in particular have not shown themselves to be on the up and up. As to Olympus - just waiting to see when the stellar inflows stop and the epic supernova collapse starts to happen.

[erikvoorhees]

Eth_Man… that Coingeek article is BS sir. Coingeek is run by Calvin Ayre and the Bitcoin SV folks. They dislike me because ShapeShift delisted Bitcoin SV and I’ve been outspoken about BSV being a scam.

ShapeShift does not have “connections” to “criminal activities.” The SEC case mentioned in the article refers to my battle with the SEC back in 2013, which ended in a settlement (civil, non-criminal). SEC was mad that I didn’t get their permission to sell shares of SatoshiDice.

The Wall St. Journal article citied is nonsense, refuted here by ShapeShift and also a 3rd party debunked the whole thing (tldr WSJ’s journalists didn’t know how to actually read blockchains).

https://blog.goodaudience.com/shining-light-on-wsjs-attack-on-shapeshift-and-crypto-5aba86160185

https://medium.com/cipherblade/how-truth-disappears-into-the-black-hole-of-shoddy-journalism-bbff158cd271

Happy to chat with anyone, at any time, about any of this if interested.

[kingsdami]

If this is not true please for the sake of the partnership with 1hive something should be done to erase that accusation.

[Eth_Man]

read the article and the references and decide for yourself.

I have watched the exploits of Ver and Voorhees in crypto for almost a full decade now. As with anyone or anything there will be pro and con sides. You can read their own commentaries (interestingly many posts and comments over time have been ‘pulled’). The problem here is that if various agencies are all over you and your projects it means they will ofc be looking more carefully as who and what you associate with.

Fortunately in DAOs we can vote with our tokens - for by holding and supporting proposals, against by selling and leaving the community via token divestiture.

The greatest thing about crypto and DAOs is that for the ‘most part’ their activities are transparent by design and intention. Hence anyone can and should scrutinize any and all projects themselves and decide whether such are something they seek to avoid or not.

The same is true of people who only invest $$ now in funds that strictly are green, or say religiously compliant (sharia for example). It doesn’t mean everything is rosy but at least we have information so we can make choices. It is up to you to decide.

[kingsdami]

I understand your point sir … 1hive gat a name to defend … And can’t be decided by me or anyone…

[erikvoorhees]

What specific action or allegation are you accusing me of dude? That the government agencies are “watching me?” Yes welcome to crypto.

If there is a specific allegation of wrong-doing, let me know and let’s explore it. Otherwise, enough with the unsubstantiated shade.

[sacha]

personally, i like the way erik thinks. i wish more people in ethereum land had the courage to stand up to governments the way he does

[paul]

Appreciate you bringing this up, wasn’t aware of this part of ShapeShift’s history personally.

From what I’m reading it sounds like ShapeShift was used for some amount of laundering 4+ years ago, and since then took standard crypto KYC and AML measures that any centralized service does now, at the cost of a lot of its users:

Technology Review. Whoever ShapeShift’s users are, there are apparently a lot fewer now than there were before October 2018. That’s when ShapeShift made a big change to its policy: it stopped letting users trade without providing identification information, a move made to comply with anti-money-laundering regulations. Erik Voorhees, the company’s CEO, recently said the change “essentially gutted” its customer base.

As much as it sucks, I don’t think there’s any crypto service from 2013-17 that wasn’t being used for criminal activity, and some like BitInstant were actively enabling, which ShapeShift clearly was not.

100% agree that we need to fully vet projects we are partnering with like this, but this looks like outdated and overinflated bad press to me.

btw I’d still like to hear your concerns with the Olympus Pro protocol on the other thread please: 1hive to Diversify/Build it's Reserve - #7 by paul

[kingsdami]

Thanks for this clarification paul… Proper research should always be embarked on before undergoing partnership with any DAO… because some don’t have pure intentions…now looking at what you said concerning the allegations being outdated and overinflated… what we have to investigate is if charges are being pressed and what the organization is doing to truncate those charges/allegations…
Please let’s contribute to this too

Can Cryptocurrency rapid growth be compared to ponzi scheme

The rapid growth in cryptocurrency is comparable to a ponzi scheme. People invest into these because they expect good returns. There is no identified source of generating revenue on the investment. A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. The Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. … Instead, they use it to pay those who invested earlier and may keep some for th…

[LPX]

Just wanted to say – I know there’s a lot of newcomers into the space that might not be very familiar with the blockchain industry’s history including the hardships and prosecution that had to be endured by a handful of early titans – Erik being one of them. I think Jon does a great job here explaining the long term visions and goals of the DAO..

That being said, today we have reached enough votes for a soft quorum pass, so I think it’s safe to assume that the D2D collaboration will most likely be moving forward. Looking forward to building a more equal world with you guys

[paul]

Shapeshift’s proposal has passed! With 98.5% approval

https://snapshot.org/#/shapeshiftdao.eth/proposal/QmRpWZKvGGjgjvkJR4fDsyPLmKvJ6ci7kvy8GTW3AdGx1R

Proposal 2 of 2 for this partnership is now up in the Honeypot: Honey Pot

[LPX]

As a sign of good will going into this partnership and honoring the original proposals, it was decided to keep the 950 FOX/HNY peg, even though at the moment its about 740 FOX/HNY. Enjoy the considerable FOX discount, and let’s go get that honayyy!

[kingsdami]

It should be 950 fox/hny…why reduced to 740 fox/hny

[LPX]

Yes, like I said, the swap will go on at 950 FOX / HNY. (Hint: it’s better for your treasury!)

[kingsdami]

Okay thanks for the clarification