Community Channels
War Room
Discussion on Lido and Staking POS
- Members discussed the possibility of ENS metagov strategically reducing their exposure to Lido to a maximum of 20%.
- The discussion covered the possibility of allowing rotating stake to different staking addresses to bypass withdrawal and deposit queues.
- A member shared a Twitter post arguing that the current approach to Lido and staking is fundamentally broken.
- A member shared a tweet suggesting that if Lido allowed stETH holders to vote on the validator set, it could solve most of the current worries around Lido centralization.
- Pro Lido tweet
- Member opinion:
"As a personal critic of Lido, I come from a place of Lido advanced LSD's and got its advantages by moving fast with less security under the argument if we don't others will and they will be bad.
I think things get heated when entities like Lido then try to shield some liability and start using launguage which is fundamentally at odds with things in a hedge of regulation.
Lido controls their validator set. They have the power to direct withdraws to validators they want to offboard, and direct deposits to their prefered validators.
This means that validators wont act against lido or be kicked from the club and whatever happens just happens a little later.
Lido claims to be adding veto power but methinks they wont actually give veto to removing validators, and in general LSTs are often deployed to stack yield and no good solutions to vote from smart contracts doing finance stuff.
They do make strides, but arguing they are a distributed network of validators betrays the fact that every organization is made up of parts. But the head where decisions are made is a single thing, and threat being collusion in a system where all share a single threat of lido governance cutting off their revenue, is not super effective."
Stock Market and Trading
- Members shared a Twitter post about Apple's CEO selling the most stock in 2 years and other Apple executives selling their shares. Some believed this to be significant.
Cryptocurrency Trading
- One person mentioned that they have bought more ETH, but also believe Bitcoin (BTC) to be a better bet.
Tokens
Friendtech and its Competitors on Avax
- Members discussed the new Friendtech competitor on Avax. There were differing opinions on the potential success of this competitor. Some members believe it will fade like Posttech, while others are unsure what would make a competitor stand out and successfully attract users from Friendtech.
- One member shared a tweet showing the farming rewards and said that the app works smoothly.
- One person thinks that the social capital of friendtech gives it significant advantages over competitors.
Discussion on Licensing Models
- A summary on licensing models of ARB & OP was shared by a member. The summary used the analogy of amusement parks to explain the different models. ParkA represents a large entrance fee with all rides included, while ParkB represents free admission but pay for rides.
- The ParkA model was compared with Arbitrum Nitro (L2's and L3's), where if you want to build an L3 using the Arbitrum stack, it's similar to ParkA. The OP stack, which is opensource but requires payment for a Superchain license to interop, was compared to the ParkB model.
Airdrops
Arbitrum Foundation Grants
- A member shared a link about the Arbitrum Foundation's proposal to allocate up to 50 million ARB for project grants through January 2024. The amount of ARB would be based on criteria such as project lifetime, Total Value Locked (TVL), or cumulative volume recorded to-date.
- In response to a query about strategies for the Arbitrum Foundation grants, another member stated that they have no specific strategy now that Arbitrum has completed their airdrop. The member compared this to similar approaches taken by Optimism, who distributed funds to other projects and DAOs, but found the rewards to be relatively unimpressive.
- The member suggested depending on organic activity and considering the use of Silo Finance for a lending market until January, rather than an alternative that isn't receiving anything. They added that they personally won't be investing more time in this area.
NFTs and Gaming
RTFKT and Clonex Projects
- Members discussed the increased volume in Latest Signals with Clonex/RTFKT projects. They shared a tweet from RTFKT detailing the schedule of upcoming events including the RTFKT x Nike Dunk Genesis Forging Event, RTFKT Skin Vial EVO X Evolution and Forging Event, and the RTFKT x Nike Dunk Genesis VOID edition Pre-sale Launch.
- Further discussion revealed that RTFKT is expected to ship out RTFKT x Nike Air Force 1's this month.
Farming
Curve Finance Farming
- Members discussed a new farm for the tricryptollama pool.
- Additional incentives for pools which include @LidoFinance stETH have been introduced. Details here.