ColdTruthCulture.io Bootstrapping Partnership

Hey Eth_Man,

I appreciate the time you have taken to review our proposal and weigh in some of your concerns! I think it’s important to consider all opinions and look for solutions wherever possible. In response to 1 + 2: I understand that crypto market correlation and liquidity depth has been a talking point among the crypto space. I think that most of the issues revolve around an unwarranted pairing such as two tokens that do not stimulate each other within the economy. Pairing with stable coins will make the asset in question more hard and less volatile, xDAI/COLD is our largest liquidity pair locked with Unicrypt as I took the time to grow our stable coin pair as a solid foundation for COLD. After listening to the feedback from many of the 1Hive members who have supported us we realised that the main token used in exchange for COLD and many other tokens on Honeyswap is HNY similar to the way that traders on Uniswap use WETH to trade as a base currency for other tokens. After some consideration we felt that using our funding from NFT sales to buy HNY and pair with COLD was a great way to support 1Hive and our CTC community. Many of our artist are from 1Hive and we intend to make use of Gardens + Celeste in order to secure our Governance and Protocol as we have good faith that the 1Hive community and that HNY holders will have our best interest at heart.

" 3. There simply is not enough value in HNY to support the fragmented liquidity in the LPs which will invariably make trading difficult, slippage higher than it needs to be."

Using our NFT sales to buy HNY is giving it the direct value and liquidity HNY needs, this is a solution to that problem as we consistently add value to the protocol not extract it! We do not not rely on HNY to derive our value but correlate with it in a way that strengthens us both economically.

Now about the suggestion made changing the primary LP from COLD-HNY to COLD-xDAI, this would result in us selling a treasury worth of HNY for xDAI and I cannot support any kind of HNY selling around here! Honey is money and has far better properties than any stable coin can offer and this why we use our xDAI treasury to buy it.

Also take note that the soul purpose of this proposal was not just to have more liquidity, this is what we decided to do with the HNY if the proposal were to pass. The amount requested is for the hard work and achievements we have accomplished with an action plan on how we will continue to do so, I see a lot of projects ask for funding before a product or value is established so we wanted to set a good example of how to do that first.

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Hey Rohekbenitez,

Check out the Submit Artwork button on main page of the website under the “Join Us” drop down or under the “Featured Artist” section. That will bring you to a google form to fill out and upload some artwork to be reviewed by our governance, a reward will be distributed depending on time/effort/quality and that will make you an official crew-member with access to design bounties for CTC or other projects that purchase/request a design from us. Thank you for showing interest!

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Added my support after reading this :slight_smile:

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I also support this definitely.
The idea is very interesting to me.
Good job @ColdTruthCultureNFTs

magnificent! @ColdTruthCultureNFTs
Thank you for your answers , I am really interested

For me it makes sense to bootstrap the liquidity with HNY because you are using HNY-COLD pair directly to reward NFTS which are redeamable for xdai but people need to stake HNY-COLD, thus when they are paying with xdai they are making buying pressure on HNY and Cold in a way, it is cool market cycle.

Using the tools that 1Hive provides with Gardens is a big plus for CTC, as it will become more advanced as a DAO , i would suggest to work more on growing the CTC community with interviews, articles, youtube channels , twitter etc. I think you are already doing this but maybe those links could had been shown here too. Because many new members doesn’t know about Cold Truth Culture.

I am supporting this proposal because i believe 1Hive has the power to grow liquidity and create strong bonds together with smaller DAOs and this is a nice example how we can do that.

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totally agree that alliance is great! and I think that 1hive can also help in a way what you mention about the use of twitter or any means to attract more people to CTC, for my part I make myself available to help you in that process in case 1hive requires it or in CTC effect, teamwork is better the result, hugs!

@solarmkd You are great Dao! :metal:

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I think there may be a critical mass for pools to be at all stable.
@Eth_Man’s most important point may be that there just isn’t enough Honey to provide liquidity for so many different tokens. He’s right.
I like Cold too.
This isn’t about that.

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Just suggestion. Better to wait for the launch of Honeyswap in Arbitrum. So the liquidity will go to Ethereum mainnet with the help of Arbitrum rollups and we could get onto some serious markets.

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We shall pass!(and we just did) Congrats @ColdTruthCultureNFTs @Monstrosity @theJeweler @Rohekbenitez and thx for the support and always mediating approach @solarmkd !

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this sounds really promising !! @stillnoob
arbitrum will be a window to new opportunities or markets! :herb:

Thanks @ZER8 and
@solarmkd it’s really great :trophy:

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