[HN Gopher] The 0x community DAO. The next step towards decentra... ___________________________________________________________________ The 0x community DAO. The next step towards decentralized Author : karlzt Score : 13 points Date : 2021-03-12 21:32 UTC (1 hours ago) (HTM) web link (blog.0xproject.com) (TXT) w3m dump (blog.0xproject.com) | ketamine__ wrote: | The next step towards being hacked. | latchkey wrote: | I've been participating in my first DeFi DAO project and as a 20+ | year ASF member, this is literally open source v2. It is really | fascinating to be part of this new generation. | ketamine__ wrote: | Earning 8% interest off assets that are already speculative | with counterparty risk. What could make more sense? | cliftonk wrote: | These protocols typically have various strong incentives to | prevent drops below a certain collaterization ratio. | | There is a real danger that ETH/USD moves too quickly while | gas fees get too high for the system to function properly and | we see a lot of defi losses. I don't think this is likely but | it could happen. | seniorgarcia wrote: | I was hoping this is Dragon Age Origins but it is just another | crypto scheme. Or whatever this is... | | >If a majority and at least 10M ZRX in voting power are cast in | support of the proposal, it is queued in the (optional) Timelock. | | I have been on the internet since 1996 and that sentence just | sounds like "we'll print money unless you stop us". Which is | great, even though I have not been part of this particular money | making scheme, I have profited of similar crypto monetizations. | | I think I do not understand stuff like this anymore: "We created | an on-chain binding governance system able to perform arbitrary | actions on a 2M ZRX community-owned Treasury, seed-financed by 0x | Labs. The smart contracts work in orchestration with 0x's | existing staking system, for what concerns both the voting power | delegation management and votes cadence." | | Even having read the ToS from https://0x.org/terms it feels like | I understand even less now. It sounds like you put money on their | ledger and you are fine with whatever. | | I think I don't understand crypto and I would like to play DAO. I | share a really popular Dragon Age Inquisition spreadsheet if you | are interested in something completely different: | https://docs.google.com/spreadsheets/d/16Pt3AMXjBogM7UZ7Y92-.... | I'll approve your edit or copy requests soonish... ___________________________________________________________________ (page generated 2021-03-12 23:00 UTC)