Week through Adrian's Lenses (24-30 April 2023)
Let's see what we have for this week's roundup.
Week on Hive
Leofinance 10K USD worth of LEO Contest
Leofinance's Adoption Campaign starts on Zeely in a few hours from writing this (April 30th, 18.00 UTC). Tomorrow Leofinance Alpha should also take the place of the Leofinance main interface.
Hive Keychain DHF Proposal
Hive Keychain's one-year proposal is about to expire and they came out with a new one. The increased team proposes to use the funds they would receive in 3 directions:
- Development (65%) - Hive Keychain Mobile, Hive Keychain Extension, and more
- Design (15%)
- Bridging Hive to other crypto ecosystems through the Keychain (20%), based on an 86% favorable opinion about this direction on a poll they conducted among Keychain users - almost 1200 users responded to the poll)
Their published numbers are also impressive:
- 100,000+ accounts using Hive Keychain
- 85% of them active during the bear market
- 50+ dApps using Keychain
This is their DHF proposal. Still needs about 5% to pass the funding threshold at the time of writing.
https://peakd.com/@keychain/hive-keychain-proposal
@Vaultec talking about VSC and Hive at Crypto Maniacs
Two or three main ideas that are important to drive home about VSC, in my own words:
- it will add a programmable layer that should improve working with multisig accounts which Hive already supports at the base layer
- it will be a sink for HBD through fees, but also use the HBD interest in savings as a sort of reward pool from which to pay node operators (question: what happens with the rewards of node operators if the interest is lowered by Hive witnesses?)
- as I understood from the design VSC will have, HBD would have on VSC some of the roles HIVE has on Hive, and HBD is a base layer token, which is better than having its own token on VSC for that
This is an episode worth listening to even by (or especially by) more technical individuals:
https://peakd.com/hive-167922/@jongolson/nympekqb
3Speak Development Updates
The developments on SPK Network and 3Speak are starting to reach points where we can be involved and where more communications are coming our way. @eddiespino presented the current situation and what to expect really soon in a post on 3Speak. If you read through, you'll see status/progress reports on pretty much every component they have in their projects.
https://peakd.com/threespeak/@threespeak/3speak-development-update-done-and-main-ongoing-tasks
Also this week, the 3Speak team put forward a call to action to share CTT shorts on external social media in exchange for upvotes:
Golem Overlord: First Serious Issue Handled
The first economy-breaking exploit has been discovered and changes were rapidly made to fix it. Golem Overlord is still in the alpha phase, so quick changes are to be expected.
https://peakd.com/golemoverlord/@golem.overlord/explanation-of-a-major-change-to-go-economy
MuTerra Described Tamer Stats
In a post this week, MuTerra went over the stats tamers could have. For anyone playing MuTerra, this is a must-read post:
https://peakd.com/@muterra/muterra--tamer-stats
Week in the Crypto World
Visa Seems to Have Big Plans Involving Stablecoins on Ethereum
It's one thing to have crypto-related cards that work with fiat, it's another to have truly crypto-based cards. Although one could argue stablecoins are fiat's extension into the crypto world. Regardless, Visa is hiring senior devs which would help them integrate public blockchains (EVMs, in particular) and stablecoins into their offering.
https://cointelegraph.com/news/stablecoin-payments-visa-shares-plans-for-ambitious-crypto-product
And Here Comes Mastercard with Their Own Plans
Did you have any doubts that Mastercard will soon be there right next to Visa? What they are announcing though is a way to verify users and track transactions on Web3. I have no doubt that any transactions done via Visa or Mastercard, even when they will be dedicated to the blockchain world, will be fully trackable and associated with a UID, so there's no news here, other than the fact that Mastercard is coming too.
Circle Cross-Chain USDC Protocol
As the card giants get closer to being directly involved in the crypto space, Circle moves to make USDC better for cross-chain operations. The protocol created for this purpose puts Circle at the center, as an attestor of burning on the source chain to allow the minting of USDC on the destination chain.
Posted Using LeoFinance Beta
I've came across this question as well. I'd say the best solution is have a static percentage that is always expected and build off of that. For example interest is 20%, but we can safely assume it'll never go below 8% (making up numbers here), thus everything should be structured around that as a basis. The additional 12% is just a bonus that can be saved up for the future or just burnt (TBD). Combining an expected interest rate with scaling RCs based on total HBD generated (not necessarily staked) will ensure there is enough HBD to cover infrastructure costs... However, in general I don't foresee infrastructure costs being a problem in the first place due to extremely lightweight node operation.
Thanks for your answer!
Why would you burn HBD? I'm sure another use case can be found for the excess, if it would be the case.
Yeah of course. I'm giving one possible option. Most likely that extra 12% will partially go to a devfund for longer term development of the project.
It looks like a lot happened this week. Golem Overlord looks like it dealt with a serious issue but I am not sure if I like the changes that much. It's no longer as idle as before but I guess it's still way more idle than a game like Splinterlands.
Posted Using LeoFinance Beta
Hmm, concessions to attackers at the expense of defenders. I've heard the idea that if you successfully defend against an attack you should receive their repair fee or at least part of it. Maybe they should consider this.
The card game is not meant to be idle (unless you bot it), but the land game will be mostly idle.
I never knew that a lot of people like that make use of Hive Keychain
That is a lot!!!
Thanks for the information
What do you use to approve transactions on Hive? Don't you use Hive Keychain?
is the contest
have just started or ended soon?
Just started yesterday.
@tipu curate
Upvoted 👌 (Mana: 32/52) Liquid rewards.
Thank you!
Hi @gadrian. You new link for today in Listnerds does not work. Could you please repost it? Thank you. Barb 😊
!BBH !CTP
Posted Using LeoFinance Beta
It's a problem the new UI for Leofinance had and hopefully, it was fixed in the meantime.
OK thank you @gadrian that's good to know. 😊 !BBH !CTP
The LEO token has lost a lot of value in the past months, would you attempt an explanation for that? I'm wondering whether I should hodl my LEO or dump them on Tribaldex ... Thanks
To be honest, I don't have an explanation. Maybe LEO has been distributed in too many ways. One fund that was slated to pay HP delegators 16% in LEO is about to be depleted of funds. Khal mentioned when that happens they will come on the market and buy LEO (the cheapest on the blockchains where it can be found, natively or in its wrapped form) to continue to pay the dividends to delegators. That should provide some constant demand for LEO.
Or perhaps Khal decided it was time to pull the rug ...
View more
Which account is about to be depleted of funds?
View more
LEO has been losing value for a long-time. On the other hand, there is a lot of development going on and a lot of emphasis on growing an active community. Over time, LEO has been good to me, I benefited from the airdrop, I've used LEO to finance other things before starting to stack again. I've decided to HODL and see what happens.
That is true. The expansion toward other ecosystems with tokens on each of them has hurt LEO and now they are trying to regroup and give back value to the core token, which is LEO. Khal admitted it was a mistake and this is what they are trying to do now.
I believe LEO has been good to most of us involved actively in its community (and even to those less active).
In the meantime, I came up with an explanation (a good night sleep does wonders!), which extends to a period longer than a few months. LEO value was drained for a while into the other tokens Leofinance launched on other chains, like CUB and POLYCUB, as those two defi applications were very hot. It is still one of the exit options from the Hive ecosystem to the two blockchains, but now there are also HIVE and HBD (also SPS) to share the burden with. The reverse is they can also be entry points just like they are exits.
Nice update, Adrian.
There has been a lot going on in the Hive world.
!CTP
!ALIVE
@gadrian! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @beststart. (10/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
Thanks, John! Yes, there continue to be lots of topics to talk about weekly for Hive.
Im going to thoroughly read your post. I see something about Visa and Mastercard. This looks interesting @gadrian. Ineed to go on my walk not finish my steps for Actifit. Barb 🚶♀
Posted Using LeoFinance Beta
I hope you enjoyed your walk, Barb!
Yes I did @gadrian Thank you! 😊🖐
Another important news and what about master card? I don't know much about it.
Thank you for the nice and neat summary!
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