Distributed Fiat-xDai market: a way to take advantage of the extraordinary power of local communities

Local communities are growing and need additional attention. Iranians, Latin Americans, Chinese, and others, for example. Characteristics of these communities include:

  1. Lack of English fluency; as a result, the majority of their correspondence and information is gathered outside of the forum and discord.

  2. Inadequate computer skills, especially in programming

  3. They’re eager to put their small sums into cryptocurrencies.

Because of the main network’s fee, xDai has become a heaven for micro-capital. I know a lot of young people in my neighborhood who have put more money into Agave than the faucet has offered them. I believe at least 10 percent of mrcap increases in the last few months belongs to them. Local communities have come up with a range of ideas and proposals to expand HNY’s market. These ideas and proposals should, on the whole, have been well received by prominent members of 1Hive. These ideas and proposals should, on the whole, have been well received by prominent members of the group. They haven’t had much luck, though. What is the reason for this? This problem has two sides to it. The bidders, who are more than newcomers from non-rich countries and demand few HNY, and the skeptics, who are more than the old ones and have a decisive vote. “Why should we pay for something we don’t know will have a positive effect? Why not do it for free and without funding HNY?”

What exactly is the issue:

  1. We don’t know how effective these proposals are at expanding the honey market. How much is it worth investing in? Is it true that local community micro-capital has increased by ten to twenty percent in recent weeks?

  2. Bidders who lead their own local groups are often unable to put their proposals into action without being compensated. For most bidders in their own country, a monthly income of $300 to $500 is a good income, allowing them to pursue their ideas. The proponents believe that their proposals have a huge influence on the 1Hive.

What can be done to quantify and raise revenue for local community’s effect, as well as their positive impact? It’s worth noting that, in addition to economic benefits, including local communities contributes to greater distribution and, as a result, greater security. The distributed Maker-Taker market, which operates in the same way as the localbitcoins.com platform and is also regulated by the DAO, is a useful tool for us. The challenge of converting local currencies to xDai is one of the most significant obstacles to ordinary people adopting xDai.

It necessitates both programming expertise and a significant financial investment. The use of official local exchanges poses a slew of legal questions, including taxation and government prohibitions. The fact that the crypto side is screwed and the Fiat side is left to the seller and buyer is the foundation of this market’s simplicity and efficiency. Makers will be rewarded with the platform native token based on their transaction and credit history. The DAO will be governed by the token, which will be used to distribute fees.

As a result, two issues will be resolved:

  1. Everybody will be compensated based on their marketing activities.

  2. The weight of each local community’s influence and its associated local currency is calculated so that the funding proposal can be discussed based on it.

I believe that this project has few costs but many benefits for the 1Hive community. The reputation of 1hive will be enough to guarantee the project.


Hey Mehdi, I really think you raised an very crucial topic for discussion, which should be addressed in terms of general adoption of xDai, actually not only xDai but all other sidechains, which have a huge barrier of entry for people who lack the skills, knowledge and language necessary for onboarding.

As the issue you raised here is directly related to what we have been achieving with our Terra DAO, I feel obliged to further the discussion :slight_smile:

With Terra DAO, our main objective is to mitigate, if not eliminate, the language barrier of entry to both DAO space and 1Hive services in general in addition to teach people who are willing to be involved in the ecosystem and use 1Hive product as a whole. For this reason, we have been translating tutorials such as the use of bridges between other not-so-expensive chains to xDai (like in the case of How to Use Binance as an On-Ramp for xDai (Multiple Languages Post). And the main idea for why we have translated our Wiki was also related to the “teaching” aspect of how a true DAO like 1Hive works.

With good intentions, we also opened up an International Discord Server; however, we have seen that it is very difficult to get people to use Discord. Accordingly, in our second proposal, we decided the keep that server, which does not have great activity; but in addition to that, we also assigned an implied duty on the members of Terra DAO to act as “ambassadors” or “representatives” in the sense that these people are directly dealing with their national, regional and local communities for everything related to 1Hive. And as part of these duties, to give an example from myself, during the last month, I have contacted with or get contacted by at least 50 individuals on various platforms of communication whenever they have questions or need information about what has been going on in 1Hive.

Regarding the distributed Fiat-xDai market; even though, I definitely believe this is achievable, I also think and know that there may be some legal challenges to establish such a network. For instance, it has been possible to directly buy xDai though Ramp.Network, but they are not able to provide their services in certain parts of the world. Accordingly, we are forced to use centralized exchanges, which I don’t think is ideal as it is opposed to decentralized nature of what crypto community has been trying to achieve for years. However, this does not mean that we should not use these platforms as merely instruments for our goal. Hence why as Terra DAO, we are trying to teach people to use those bridges and get rid of centralized exchanges.

Moreover, back to those legal concerns, as in your example of localbitcoins type of distributed market. Although, in theory the idea is great, it might probably result in some legal sanctions on market-makers in various regions of the world. For instance, I live in Turkey, and Turkey has recently banned the use of cryptocurrencies as a payment method. I checked the regulation issued by the Central Bank, and have seen that it is mostly based on another code regulating the affairs of the sub-branch of the government which is in charge of the prevention of money laundering. According to the recent regulation, service providers of electronic payments will not be able to engage in the sales of crypto assets and people will not be able to provide payment services through cryptocurrencies here in Turkey. Therefore, we do not know what will be the status of these distributed markets like localbitcoins after this regulation enters into force.

To conclude and get to my point regarding this, I think we can try to implement what you propose, but it will be literally impossible to standardize it and to establish metrics for the performance of market-makers in a global scale.


Merhaba. Uzun yorumunuz için teşekkürler :blush:
I’m familiar with Terra, and I’ve learned a lot too. But keep in mind that I didn’t want to bring up the issue of language and skills here… I’ve just figured out the situation. One of the advantages of having a nonstop market, in my opinion, is the growth of local communities in the Honey ecosystem, which will contribute to increased stability and security.
I’m aware that Terra Swarm has put in a lot of effort to train and lead non-English communities… and If I can help in some way, maybe in farsi, I would be grateful. But the decentralized p2p platform that mentioned is a financial tool, not a educational tool.

I’m not sure what you mean by “some legal challenges” in terms of establishing a decentralized peer-to-peer platform. Who cares about “some legal challenges” if the DAO stablished?
However, we should be aware that “directly” purchasing xdai from Ramp, bsc, or Bitmax poses “some legal challenges”. These solutions, as you said, are not “ideal” for pioneer communities like 1hive.


dao base decentralised market for fiat-xdai would be great.why not?! it is hard and tricky in first sight but the idea worth to look and discuss

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as i said before,i exprienced lots of challenges for changing my fiat to xdai…i almost let it go but got lucky at last steps and convert it to xdai with some non network fees :)… so i also think its critical for 1hive to make it easier for some countries like iran and many other places…

our problem is the governments and banking system and exchange firms , our team is completing a distributed market that is market / market , you can study the outline in the following link :

tps : / / A project to solve the problems of community expansion

Hey @Jsh976
Let’s know your pass experience… I believe that if we share the tragic experiences… community will pay more attention to the issue of converting fiat/xDai

So as you may also experienced,there is no direct way to buy Xdai … Maybe there are some ways that i don’t know but i personally bought some Xdai from a guy i knew… i know that you should buy tether and change it to xdai with some fees but some countries (Iran included) blocked buy bitmax or bsc and you can’t use it easy…

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