Reddit /r/ethtrader support for bringing DONUTs to xDAI

šŸŒæ Proposals
#8

Thanks for the proposal, I am in favor of bringing donuts and growing the partnership between 1hive and ethtrader I just want to be clear on how that partnership can look. I donā€™t know that bringing liquidity to xdai is sufficient for a ā€˜partnershipā€™ that is more of just a donation. I am wondering how much of that is organic growth as honeyswaps liquidity 2xā€™d from last october wherease moons dropped in half. All that said I would like to see 1hive be able to use banner ads or something in exchange for the 20HNY besides just getting the ā€˜growthā€™.

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I say this because there are a handfull of people who put in a tremendous amount of work building and marketing projects like connext bridge. We saw a step change up to $4M in weekly volume thatā€™s about 11x donut volume. should we pay out 20 x 11 = 220 HNY, should write up that proposal today?

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2 Likes
#9

Iā€™d say more like 2k active users at any given time and 3k at peak times.

And thereā€™s been an influx of new users after the recent dogecoin pump since people tend to reach r/ethtrader and r/cryptocurrency through their research. In fact thereā€™s been a big influx of new users from r/cryptocurrency as more people learn about moons, and therefore donuts. Ngl, the concept of a decentralized internet government where you get a little reward for participating is very new and it needs more exposure and awareness. Donuts are 2 years old. Moons are 1. Iā€™ve been in crypto for 3 months now and Iā€™ve just understood DAO a few days ago. No ones advertising moons or donuts as DAO, even when it is its very little, but itā€™s a good start. Canā€™t deny reddit is playing a huge part is spreading that concept. Any support that goes to the audience at reddit and the mods/these folks here benefits this ecosystem as a whole. Community points system on reddit started with r/ethtrader with donuts and r/cryptocurrency moons will probably follow suit on xdai as they come on the mainnet.

Bruh I major in health sciences and with people around me asking to buy BTC ā€˜internet coinā€™ or ā€˜dodgeā€™ coin, let alone knowing ETH or xDAI or DAO. Reddit made DAO fun and easy where people from all walks of life, anywhere can learn.

Welcome to my ted talk.

2 Likes
#10

We had a call with Carl and other mods and members of r/ethtrader and we may be pursuing this new user trend abit further with some initiatives between donuts and 1hive community. Hopefully this way ā€œthe people around youā€ can be pointed in the right direction and start learning all about DAOs and DeFi

3 Likes
#11

Did the call result in any explicit incentives for 1Hive to fund this development?

So far I see ā€œpotential small welcome airdrop to members of xDAI, HNY, AGVEā€ and ā€œThere is a possibility we use some HNY to partially fund the HNY-DONUT LP reward on Honeyswapā€ which are pretty vague and not enough incentive for me to vote in favour of this.

Besides this I can see it would be good for the xDai ecosystem as a whole. However, due to the future use of xDai within the 1Hive ecosystem being uncertain and considering 1Hiveā€™s infancy, I would be weary of supporting proposals for which this is the only incentive.

1 Like
#12

Donut is a bomb ready to explode

#13

I shared a follow-up to our cafe discussion here. I outline a few of what I gathered were our respective goals in this context, and then what I drew as some of the key actionable ideas that could form a roadmap for collaboration.

Agreed, I think it would cool to see a bit of a token exchange, so we would gift some $donut to 1hive, that could be used to purchase the banner. There is an aragon based interface to the banner which is better to use for purchasing and adjusting price. For instance, you can see there a timer for how long the current owners credit will last. If the timer runs out (owner doesnā€™t add credit and the banner is not bought from them) then the price actually reverts to 0.

2 Likes
#14

Thanks to @Eth_Man to provide this proposal, I think the collaboration of the Community Eth Trader with the 1Hive community can be effective for the growth of 1Hive community, and, given the lowness of Fi on the XDAI network, this capital transfer for members of the Community Eth Trader is an annual payment point for payment Fi gets less network, it seems interesting.

#15

does it already started ??? i donā€™t see much of difference in Donut liquidity in recentā€¦

850K for 1000user is impressing

#16

No, the incentive was authorized but the setup has not been completed yet.

1 Like
#17

Discussed was more collaboration using NFTs, Quests that involve basic stuff like learning how to use Honeyswap to trade DONUT for xDAI or vice versa (or any other tokens for that matter). Adding to DONUT-xDAI LP and depositing into a LP farming contract to earn part of the 50K/week Honeyswap DONUT-xDAI LP incentives already approved but not implemented. If Agave adds DONUT to a depositable also using Agave to borrow xDAI etc. Quests for participating with votes in either 1Hive or Agave DAO. (which is why we considered a small airdrop). We have already privately agreed to put up some DONUTs as rewards on these and quests in general.

There is interest in when 1Hive comes up with a DAO infrastructure set for us to investigate using that for our governance. We want the VOTE=min(DONUT,CONTRIB) to still apply. I think using this for conviction voting would be interesting.

Carl has put together a document with a kind of road-map of ideas EthTrader and 1Hive discussion follow-up. Some easy, some longer term.

We have already talked about floating some DONUTs back to 1Hive to buy the banner. Someone in buzz should be thinking to get a banner graphic made that fits the requirements.

#18

Passed but not implemented yet. It is on the task list once we get development funds rolling and merge various website UI front ends (in process). There was some hope that 1Hive would have a general farming contract available that used any tokens for farming but so far I have not heard anything in that regard so unless that changes we will have to roll our own Honeyswap DONUT-xDAI LP Staking contract on xDAI.

1 Like
#19

Again I donā€™t see any concrete incentives for Honey holders here. These are all vague suggestions of ways we might collaborate in the future. Thereā€™s nothing explicit.

To me this proposal seems like 1Hive is paying the ethtrader community to use our infrastructure, specifically Honeyswap and Quests (once itā€™s available, which btw is at least a 4-6 weeks away from being ready, likely more) and for some unknown potential future return for Honey holders.

Whether this is something 1Hive is interested in supporting is up to them but I think this should be made clear at this stage.

2 Likes
#20

I remember months ago a Donut Airdrop was done on reddit and I was not eligible. They had a great project and team behind them.

#21

I also share some concerns about /r/ethtrader previously, and have a love/hate relationship with all trading, as it definitely can fuel energy and attention to a movement, but also equally damage it and mislead people.

Iā€™m applying a longer-term value investing approach to crypto-assets, integrated with real physical businesses that meet the needs of users and customers (food, housing, clothing, etc.) There are aspects of ethtrader such as hyping coins with no long-term plan or return, but also very diverse ideas and viewpoints. Also memes, entertainment, and NFTs are fun and accessible to non-technical users, so we would definitely lose something of life enjoyment by only participating in ā€œserious investment forumsā€. I hope itā€™s possible to do both. /r/ethtrader for its shortcoming seems like one forum to exchange investing theses.

Does anyone actually hold DONUTs or have personal experience of the kinds of behaviors that are incentivized by being awarded them?

150k issuance to the moderators seems steep, but again, it is not easy to cultivate a large community, so one can view it as the return on the social capital theyā€™ve invested.

For the reasons and caveats above, Iā€™m in support of the proposal, and also to learn what technical steps are needed to interoperate any other such mainnet tokens on xDai in the future.

1 Like
#22

@Eth_Man, would you be open to featuring 1hive in a stickied post on r/ethtrader? Would have to work out messaging & duration but given the size of the community that would be pretty valuable.

3 Likes
#23

I 100% agree with @willjgriff Iā€™m not opposed to the idea of this proposal but there is nothing specific. The agreement or arrangement should be defined. I only see this grant of 10 hny for rogue and 10 honey to help fund some work that eth trader is gonna work. I would really like to see some commitment from eth trader on what the will do not might do.

4 Likes
#24

In my opinion, more support or arguments are needed to support this proposal! and that the benefits that will be obtained with the approval of the same are projected

:four_leaf_clover:

#25

Yes please. I use CryptoCurrency and FortniteBr since they are already on xDai.
But I heard of donuts and I went there to check them, then I noticed the erc20 thing and I was likeā€¦ Nah not worthy, 10$ a month tops with 5$ fees? No.
I hope they change to xDai so I can use that subreddit.

#26

I believe you can ask for you donuts to be distributed directly on xDAI.

1 Like
#27

He is requesting financing of 20hny, so far according to what I can read, he is asked to have a more specific support of what benefits will be obtained, with said financing!

I in my personal opinion would like to see projections