Replies - Activity - KevinV_UC - Algorand

KevinV_UC

GP14 TDR Proposal - Messina

I don’t think this proposal suggests that 🤔

GP13 DeFi Rewards (TDR) Proposal - Messina

Appreciate it 🙂 Will have a look!

Edit: Updated final allocation numbers.

Edit: Taken out Project X due to timeline ambiguity.

Project X is not consensus related.

mALGO and ALGO, as you know, follow the same price movement (within a small margin) - they’re still different assets though. Someone may hold one but not the other, so having separate vaults with each their own boost is simply to cater to a wider variety of holders. mALGO doesn’t have a Bull vault …

I’ve been unwell, so apologies for delayed reply. This proposal is on a fairly short turnaround especially considering the current TDR period is actually only halfway through and our first version of Token Wars ended just days ago. We’re going to need more time than 7-10 days to finalize the full …

Before this proposal is final, we’ll be able to share more.

Updated mALGO/USDC pools.

We have removed the welcome bonus and referral bonus models from the proposal as we agree these are prone to abuse and are likely targeted by farmers. Instead we increased the allocation for the vaults, and added an extra 10% to the User Generated Content pool. With AlgoRai, we realize education is…

Updated allocations by removing subsidized bridge fees, and added the collaboration with Meld Gold to offer more unique yield opportunities and rewards to attract new users and capital to Algorand.

Entirely understand and the squeaking doesn’t go unnoticed. We significantly ramped down allocation to mALGO/ALGO pairs, although still present it’s a lot less than in the first version, and we added mALGO/USDC which after some discussion, appeals to us as a much better destination of allocation to …

By making it harder for people that intend to abuse the program, it at the same time also always makes it more cumbersome for genuine users. Can’t avoid that really. I personally think completing a task in a gamification environment to get an immediate 10% bonus on your stake, isn’t too much of an objection.

I don’t disagree and we’ve significantly scaled down the allocation on these items to favor other areas. Without these allocations though, we can’t keep mALGO competitive unfortunately. mALGO is not an asset that’s heavily traded either because it’s a natively appreciating asset that will increase …

Cheers Fisherman - indeed for the welcome bonus, both mALGO and Bridge, we will be looking to add a claiming process that should prevent abuse or at least make it less prone to abuse. It will probably involve a Galxe or Zealy, because we are anyway looking to set up an environment for gamification a…

Yes, the precise implementation of the welcome bonus is under design and this is a focus point. Linking unique user accounts to some sort of claiming mechanism is a good idea, although people may have privacy concerns. But yes, it’s on the list of talking points.

Some very creative ideas!

mALGO has the rewards of all earlier governance periods baked into it’s ALGO rate - mALGO is an interest bearing token, it isn’t supposed to be pegged to mALGO 1 to 1. The ALGO/mALGO rate is adjusted with every reward distribution.

Thanks for your inputs! Not first time, new account though because Algo Foundry doesn’t exist anymore.

Cheers for your suggestions! mALGO isn’t a protocol token like DEFLY or VEST. So I don’t know if we want to use mALGO in that way, at least not for just holding perks and benefits. It’s designed for liquid staking. There may be other ways to bring perks and benefits into the protocol though. I need …

I like the idea of incentives for newly introduced tokens. But, you need to red team it. For instance, you need some params so that it’s not just bridging dead tokens. Does no good to reward someone for bridging an ETH token they made and that has fake market cap and no trade volume. So, put some t…

Pooling some TDR to subsidize bridge fees is a very creative idea! I’ll definitely take note of that. Asking influencers or other KOLs to engage with our postings will be costly unfortunately. Especially chain agnostic “real” KOLs (not those scammy marketing agency’s) are pricey. Establishing the …

Hey! Thanks for your contribution! I don’t completely understand what you’re suggesting though. You’re saying we should drop fees, promote DeFi and NFT opportunities on Algorand, and use TDR to sustain the campaign and bridging operations?

Definitely appreciate your opinion on this. At Messina, we didn’t get TDR at all previously, so if by making changes to the allocation strategies (even if other protocols won’t) we can at least get our TDR approved - it’s a win win for everyone compared to the current period. We can only control our…

A little over a week ago, we bridged BOBO after it won our Token Tournament and was voted to facilitate a move to Algorand. Even with a whale BOBO holder bringing liquidity across, which is always a challenge when bridging tokens new into an ecosystem, the trading pool liquidity isn’t deep enough to…

Some great points! At Messina we’re now trying to take a more active position and work with the community on these kind of proposals, rather than in isolation, and also experiment more with the bridging of tokens. In the light of DeFi Rewards and the voting on proposals, Messina was at the unfortunate…

I don’t disagree although I don’t think Messina ever focused on AlgoRai or AlgoMint without still touching mALGO or Messina Bridge. goAssets can be bridged with Messina, and the only use case Messina sponsored on AlgoRai was mALGO vaults. You could argue the rewards are more effectively spent elsewhere but…

Very good points. I do still think rewards can be used on those pairs though, but indeed in needs to be within proportion. Naturally, both FF and Messina allocated the majority of rewards to these pools, even DEXs did the same, exactly because it is relatively low risk and will attract the most TVL …