Cashew 🥜

You know why I still have any belief in this stuff? The community, that’s pretty much it. Maybe I’ve just been here too long… but crypto communities are often nothing but paid shills. Even when it was just $HEX everyone else thought we were just paid shills and bots. Never was the case, just a bunch of people who cared about core principles. I think a lot of people are of the mindset that the core principles don’t matter and only price matters. Yeah, I understand that sentiment. But I also disagree just on the fact that if price was the only thing that mattered, surely no one would be around anymore. So yeah for better or worse, that’s my motivation. Anywhere else feels less genuine. Not that’s it’s always been sunshine and rainbows mind you, but people care. And a lot of them care for the right reasons. That’s the important part.

I do think a #pulsechain foundation would be beneficial. c3 or c6, either way but c3 is cooler. Something that can legally take in tax-free donations and allocate funds transparently to things that improve the chain but otherwise wont get done because there is no incentive. Do I think @RichardHeartWin should make this foundation? No. I think we, the community, and its builder community should do it. I know I would be willing to help oversee it in my free time. Maybe he would donate to it, that would be cool. But I do think its creation is on us. And it should be done without the expectation of his donations. Otherwise it's foundation would be murky. And the kicker, anyone who serves on its board shouldn't be able to get grants from it. Even if it's warranted, it's a conflict of interest. This in and of itself does limit it's viability in terms of who could participate. I have advocated for this in the past, but it's not a one man job.

I think it's time to talk about @_SigmaProtocol and how I see it fitting into the current #PulseChain ecosystem and how I hope it will shape the future of it. I've made enough posts about liquidity and entropy. Even some my terms like "liquidity web" have become commonplace now, so it's nice to know you guys listen. In short, we need products that reward good behavior, but not just for itself, but the whole chain. $HEX does this for itself, $HDRN / $ISCA do this for themselves and $HEX, etc... Very few things are out there that are incentivize that behavior for the whole chain that aren't liquidity products. Liquidity is great, but it also just has a neutral effect. Can be good, can be bad. On a side note, the LPX guys seem to have something cool. I think I still need some more time to know 100% how I feel about it, but. I do think it's worth looking into and making your own decisions about. Anyways, on to @_SigmaProtocol. The TL;DR without giving up any secret sauce. It's a multi-index protocol. Think things like SPC, IXIC, DJI, etc... in traditional markets. It has multiple index strategies to choose from, equal weighted is of course one, but there are others. You can bundle a number of tokens together and it will create a singular index token that represents the bundle and strategy. After funding the only way in / out of the index is stables. There are some really important nuances. 1. The tokens in the index are not liquidity, they are specifically held outside of LP pools. Many tokens in, one out, reduces entropy of the system state. No impermanent loss risk from LP. 2. Because of the direct stable input / output redemption mechanism the only pair that makes sense with the resulting index token is stables or coins with massive stable pairs like $ETH and $PLS. 3. Onboard ease, buy one token and hold the representation of many. Easy to also create alternative bridge markets where the other side of the bridge only needs one pair with a stable to provide viable arb opportunities and liquidity injection from other chains. Which brings the final question, how are these indexes in Sigma created? By a custom DAO of sorts. A lot of the secret sauce exists in the DAO, so I'm going to be brief for now. There are no restrictions for the DAO, primarily I envision other token creators on #PulseChain to be the primary holders of the DAO token, maybe some whales and blockchain enthusiasts as well. Anyways, the DAO has the ability to tune many aspect of active indexes but also create new ones. However there is one major caveat. When creating a new index, the proposer has to put up DAO token as backing collateral. I don't know if these DAO tokens will have value as they are largely functional. Maybe people speculate on them, I can't control that if they do. But if proposers create bad indexes or include scams in them, they lose their DAO tokens and can no longer participate in the DAO. That's the tradeoff. Now of course, the final final question. What about V2? In short, it's largely complete. I just don't think it's going to be a net benefit right now. There is too much fundamentally wrong with the chain state. Hyperlane is cool, maybe I extend the current codebase with it. It certainly cannot lift the chain on its own with how connected we all are. My hope is @_SigmaProtocol will create an environment for V2 to thrive. Note, whether you blame Richard, or scammers , or all the copied tokens, etc... for this. It doesn't matter. Reality is we have a relatively well functioning chain, and this is the state it is in. We can complain about it, or we can try to make it better. Complaining doesn't often do anything, so i'm trying to make it better. The problems we deal with the today are largely the result of the users (us) doing dumb things. We are a community or not, we may all not agree, but we all need something to unify around, something that includes all of us. Because if we are not a community, then we are nothing. Thanks for coming to my TED talk. May the future of $PLS be bright. I wont stop until it is as bright as it can be.