The
@Web3foundation
recently released a statement saying that
@Polkadot
DOT token has morphed, from a Security to Software. In a follow up podcast, they go much deeper into the details.
I break down everything for you in this thread, so follow along.
Is your founder spending their time shilling their token on YouTube or teaching the next generation of Blockchain developers?
@Polkadot
Blockchain Academy in Buenos Aires with
@gavofyork
The Polkadot Pioneers Prize
"Challenge winners will receive DOT; the total prize funds available at program launch will be split between the first two challenge categories and is projected to be 671460 DOT — worth roughly 18 million USD."
🚀LETS GO🚀
As a comparison,
@Polkadot
has Blind Assignment for Blockchain Extension (BABE), which uses a VRF to produce secret randomness which determines when they can produce blocks. Only when the block is revealed will we know who the valid block producer will be.
2/6) A consequence of PoH is deterministic block creation:
There is a good reason why public blockchains before SoL did not take this route
Non-deterministic block creation adds to security & censorship resistance as you cannot predict who will create the next block
When you build on
@Polkadot
, you also have access to a zero developer cost canary network on
@kusamanetwork
.
It's like getting a second life for your business critical blockchains, allowing you to innovate at lightning speed with confidence!
🍄🐦❤️
@MoonriverNW
@kusamanetwork
XC-20, like all new code, ships to Moonriver first. Moonriver will always have the latest features. And the Moonriver experience makes the Moonbeam feature deployment safer and more secure.
@MoonriverNW
and
@MoonbeamNetwork
work together and support each other in this way.
The
@MoonbeamNetwork
team has been critical to getting
@Polkadot
to where we are today.
They helped report and debug numerous issues, pushed the limits of APIs, contributed to the open source tooling that parachain teams use, and, on top of all that, made a competitive L1 chain.
Staking data on
@kusamanetwork
indicates that ~250,000 KSM is still waiting to participate in the upcoming auctions and crowdloans.
These are users that unlocked their tokens when the auction schedule was announced, and are waiting for their staked tokens to be fully unbonded.
The
@Polkadot
Playbook.
25 simple, accurate answers to common questions about Polkadot, backed by extensive references and source material, empowering anyone to become a
@Polkadot
ambassador.
One thing you will learn quickly when you work around
@gavofyork
is that he leads by example.
How many other founders write more lines of code than even your 10x developers?
How many put their money where their mouth is about being the change they want to see in the world?
While working with
@gavofyork
, these same principles were instilled into me and
@Polkadot
devs.
Decisions were always made to create secure, scalable, and resilient "world computer", NOT to build another banking system.
Polkadot is a technology that will power our future.
.
@substrate_io
and
@Polkadot
cannot prevent humans from making mistakes; same as any other blockchain.
However, a combination of technologies like the
@rustlang
programming language, forkless upgrades, on-chain governance, and a growing suite of reusable testing tools can help.
In a world of shitcoins, scams, and other noise, it is disadvantageous in the short term to follow regulation which explicitly inhibits your ability to market your product to the world. But,
@Polkadot
is not interested in the short term.
We are running a marathon, not a sprint.
@KaruraNetwork
delivered and then some.
I was able to easily:
* Move KSM from
@kusamanetwork
to Karura.
* Mint kUSD using KSM as collateral.
* Create a LP for kUSD / KAR + KSM.
* Stake my LP tokens to earn more KAR.
* Swap any of the assets above with one another.
🚀🐦🟣
The
@Polkadot
DAO should not pay people for "work done", but for "value added".
Many treasury proposals are justified with a list of work done, and while this is important, it's not really the main basis on which one should be rewarded.
To earn big rewards, you need big results
WOW!
@bjornwgnr
was joined on stage by
@GBousis
and teased the upcoming Polkadot App, a self custodial wallet optimized for ease of use, simple enough for the crypto uninitiated 🙌
No seed phrases - No usernames - No passwords. It will use Apple or Google Passkeys 🔐
🔹 Staking
The untold story of USDC on
@Polkadot
is that all the engineering done for Polkadot can be had for free for anyone using the Polkadot SDK.
For example, maintaining an account with no native token and paying fees with just USDC.
We already built and audited that for you ;)
USDC is the foundational stablecoin within the Polkadot ecosystem.
StellaSwap's participation in Circle’s Alliance program will help improve👇
🔹 Cross-chain liquidity
🔹 Stable & secure DeFi transactions
Congrats! 🥳
I'm excited by the tutorial pipeline I am working on for
@Polkadot
.
1. Tutorial steps (code and content) recorded in the git history of a repo.
2. Script to extract and format content from the git history.
3. Documentation framework to make it interactive and pretty.
$DOT holders should remember that there are mechanisms inside OpenGov to punish malicious actors.
For example the `kill` extrinsic in the referenda pallet which both `cancels` a referenda, and slashes the deposit of the user who submited that referenda.
For those of you trying to participate in
@Polkadot
's decentralized governance, you must read The Starfish and the Spider.
The book itself only takes ~5 hours to read, but will leave you understanding the challenges AND advantages of building leaderless organizations.
I just listened to the full twitter space of
@giottodf
about Referendum 431. My stance on the proposal is NAY, but I have many (rough) thoughts I would like to share.
I believe that the Polkadot Treasury should primarily be used to support public goods in the
@Polkadot
Ecosystem and should avoid speculative investments.
I support closing the Marketing Bounty (
#33
).
The proposal has rules which cover "conflicts of interest".
Vibe is that curators should not be beneficiaries.
@DavidEneaD
is a curator and has numerous invoices from two of his companies.
We need time to pause, and reevaluate.
🎉 1000th Referendum! 🎉
Since its inception, OpenGov has seen countless contributors and memorable moments.
What's your favorite memory from the journey so far?
Here's to many more milestones on the road to 10,000 referenda! 🥂
The
@Polkadot
Ambassador Program is in the early stages of formation.
I recommend that the
@Polkadot
DAO should not fund the Ambassador Treasury anytime soon.
I recommend that working Head Ambassadors make individual proposals to be paid for their work.
The Coretime bet is that Web3 apps can provide more reliable and predictable services and fees when they have flexible access to blockspace.
Most chains only let you purchase blockspace right before you want to use it.
@Polkadot
will let you purchase it up to 1 month in advance
It's LIVE ⚡️ Agile Coretime—one of the foundations of Polkadot 2.0—is here!
That means:
🔹 Increased Flexibility & Scalability
🔹 Lower Barrier to Entry for Builders
🔹 Predictable Costs
1/
I want to remind the
@Polkadot
DAO to read the details of the new Ambassador Program before voting:
Head Ambassadors should:
- "have already made substantial contributions to the success of Polkadot"
- "necessitate activity on par with a full time job"
Event if you have never coded before, you can still tinker with
@Polkadot
.
Anyone reading this post can try playing with the Polkadot API (PAPI):
There are TODO items included, where you can can easily change which blockchain or data you want to query.
@Polkadot
Instead, the primary goal of a blockchain should be to provide trustless, censorship resistant, decentralized technologies to the world. Only as a secondary goal should we strive for maximum throughput, and only while maintaining the true nature of what blockchains should be.
1/ The original
@Polkadot
whitepaper is released 6 years ago and
@gavofyork
and
@paritytech
actually delivered Polkadot mostly following the whitepaper. If you think it in a different way, Gav sees a future back at 2017 and we live in that future.
@chiefbuidl
@Polkadot
This is not the right way to look at Polkadot. Users are not expected to actively interact with it and "spend fees". Polkadot provides security to 34 other app-chains at the moment. They would otherwise need to run their own validators, litterally costing millions of dollars each
I apologize for muzzling the ox
As a community,
@Polkadot
needs to do better at establishing our philosophies and mission
I see too often people who just don't know better navigating these waters poorly
It's hard for me because I find some things obvious, but it is clearly not
A call to action for the education leaders in the
@Polkadot
community:
You must make your material open source and open to contributions.
The ecosystem, technology, and narratives move super quickly. You must tap into our decentralized community to help keep content up to date!
My vision of a
@Polkadot
Ambassador Program v2.0.
I wrote this VERY quickly after the end of the twitter space.
Looking forward to see some initial feedback, and perhaps iterating on the ideas with the community and current Ambassadors.
Comments open.
The retroactive funding for
@AcalaNetwork
on ORML, Chopsticks, and Subway is a no brainer.
I love that they did the work first, and asked for retroactive funding. Not everyone in the community has this ability, but it makes it perfectly clear what was done and delivered.
S P A C E M O N K E Y S ˄͎ Podcast
10x Faster Blocks?
→ NOMT Said!
feat.
@rphmeier
w/
@GldnCalf
Show Notes:
Today we Blast Off with Robert Habermeier, founding engineer of Polkadot!
Rob unpacks the meaning of State & how it's a bottleneck across the blockchain
If we want to incentivize long term actors, reward results, and bring more accountability, then the
@Polkadot
treasury needs easy access to more tools.
One idea is to introduce a vested spend extrinsic: to transfer funds with a vesting schedule.
Step 1:
A little late, but finally finished my
@joinwebzero
Web3 Summit hackathon project.
Easy airdrops using Assets Pallet soon™. (hopefully)
Hopefully we can get some nice UIs created in the ecosystem before it goes live!
cc
@hydration_net
@_PlutoWallet_
This is something the
@Polkadot
community should see
The
@cosmos
eco is also generally building for a true Web3 future and are also suffering from many of the same problems
Decentralized governance is something that is inherently hard to execute well but we must continue to try
bad proposal is blocked from existing -> not an open and permissionless platform = not even a contender
bad proposal is AYED -> poor community alignment = bearish
bad proposal is NAYED -> alignment of technology and community = bullish
things are working just as intended.
Also looking for a few engineers for other teams at
@ParityTech
:
1) Engineers to develop cross-chain messaging (XCM) for
@Polkadot
2) Technical writers to make
@substrate_io
the friendliest platform to build on.
3) Full stack developers to simplify end-user experiences.
Interested in helping shape the next generation of
@Polkadot
technology? I'm now interviewing candidates to work with me doing research & prototyping at
@ParityTech
. NTH: PhD-systems-DBs-GPU-crypto-p2p-OSS-10x-Rust-Rlang-economics.
gavin
@parity
.io
subject: I'm a Curious Coder
Blockchains that evolve the fastest will be the ones which survive the longest.
We are not focused on building the "perfect blockchain" for today, but instead the perfect blockchain dev platform.
This will become more obvious as time passes, until then, we still have work to do
@MarketMobsterUK
The
@TheKusamarian
videos are exactly the kind that should be funded by the Treasury. Shills and grifters have plenty of ways to extract money from the dumb. Jay is providing real, meaningful content that actually aligns with the ethos of Polkadot.
Less FOX and more PBS please.
Callout to the graphic designers and prompt engineers in the
@Polkadot
community!
We are working with the
@easya_app
to improve the content in their app!
New section 1 content can be found here:
We need new images with dimensions: 1455x816
PRs welcome!
For example, the
@Web3foundation
and
@Polkadot
team has to be extremely conservative in marketing DOT to the world. Marketing should be entirely about the technology, not the "investment". Shilling your token is not okay.
Do I still agree?
The above args are less strong today, because (i) chains are more universal, (ii) apps more complex so bridging more risky, (iii) experimentation doable at L2.
But even still, I think there are things that you can't do at L2, and there's room for different L1s
So
@Polkadot
, completing the long and educational process with the
@SECGov
, can now confidently say that DOT is no longer a security, but is instead software, providing a highly secure, vertical and use case agnostic, coordination for layer-1 blockchains.
Congrats
@purestakeco
for the successful launch of
@MoonriverNW
as a parachain on
@kusamanetwork
!
I just went through the process of claiming crowdloan rewards and nominating some collators, all while using
@MetaMask
!
👇 Reply below with the best collators for me to nominate 👇
@guinnessstache
There are definitely some weaknesses in how we go about OpenGov today. One issue is that applicants ask for very large sums before they have proven their product/idea/ability out.
Another issue is that we frame proposals as being only about building things rather than building
Happy to see all the
@kusamanetwork
crowdloans have been successfully returned to the contributors.
These funds were originally used to help quality teams obtain a parachain slot. Now they can help these parachain teams unlock their full potential via cross chain transfers.
Thinking about tools to improve
@Polkadot
's OpenGov, I have always loved
@Kialo
.
It has the ability to present both sides of an argument, and carry those discussions multiple layers deep.
Check out one example:
Who is interested to integrate Polkadot?
S P A C E M O N K E Y S ˄͎ Podcast
DOT Whale Theory 🐳
→ Influence & Power in OpenGov
feat.
@giottodf
w/
@GldnCalf
Show Notes:
Today we Blast Off with Giotto De Filippi, chief memer of the
@dotisded
Memecoin.
We discuss his journey to Polkadot & getting involved with
Busy day at the
@AcademyPolkadot
Training the next generation of Web3 Legends !!
Strong lineup with
@gavofyork
on Polkadot 2.0 !!
Great insights from
@daltonan
@USCHill
on regulation and legal topics,
@mark_cachia_
on venture capital and funding
Also very interesting to
Want to build the future of blockchain and
#Web3
? Join the first
@Polkadot
Blockchain Academy taking place July 11 - August 7 at
@Cambridge_Uni
to learn from Polkadot founder
@gavofyork
and core engineers from Parity and
@Web3Foundation
.
To apply now:
@AdamSteeber1
I accept your call for audit. This last year I spent some time away from Parity, but I have been as active as I could be in the Polkadot ecosystem.
I haven't accepted a single payment from the fellowship, and I have been taking on what I feel are more important roles in the eco.
Subsocial is a mostly Ukrainian team that has already been making a difference in the world of decentralized social networks. Here they are doing it again in their home.
@DavidEneaD
I am not claiming anything intentionally malicious here yet. Just saying that the safest option is to stop the train now, and if needed, we can reopen the bounty after the reevaluation.
Referendum to close the bounty is here:
The fundamental problem with the
@Polkadot
HA is that is it is trying to solve 2 problems at once:
1. Bringing legitimacy / titles to members in our community.
2. Putting money into the hands ecosystem agents.
Here is how I would solve those problems:
The Karura
#crowdloan
is LIVE! 🚀
Support
@KaruraNetwork
's launch on
@kusamanetwork
and earn exclusive rewards!
💥 For every 1 KSM, get 12+ KAR
🙌 All KSM is returned in 48 weeks
🐦 Earn 10% additional early bird bonus today!
Join now:
#ExpectKarura
It is easy to say that you have been working in
@Polkadot
for years, but not actually have achieved or contributed that much. Not necessarily because of a lack of passion for DOT, but for whatever reason, they have been unable to develop themselves into quality contributors.
One funny thing we have on
@polkadot
that I don't see elsewhere.
When you get fired from something on polkadot,
Just proudly announce you were "decentralised" for the "benefit of the community" and you're all good to go for your next mind blowing opportunity
😂😂
@Polkadot
When the primary goal of a system is to have fast transaction throughput, we will see decisions which trend closer and closer toward centralized databases, and are only "blockchain" by name.
🎙️A new episode of the Fundamentals podcast is out!
In this series, we interview core protocol contributors & together dive into the details behind the charts available on Token Terminal.
This time, we had the pleasure of hosting
@shawntabrizi
from
@Polkadot
.
Tune in below!
Even worse than TPS being a flawed or gamed metric, is that it currently influences the kinds of products being funded and built.
We shouldn't build a "faster blockchain", but think about how to scale blockspace for Web3 applications.
Who will be the Henry Ford of our space?
Looking for someone to help me update the Substrate Kitties UI for the latest
@Polkadot
SDK and PAPI.
There is an issue with description of what I am looking for here:
I am interested to create a tutorial from the UI, so if you want to help, comment!
If you are a builder in the
@Polkadot
ecosystem, add your project in this repo so it can be represented in the future analytics about development and growth of the Polkadot network.
Anyone have ideas on how we can get the Substrate StackExchange to the finish line?
Seems we just need commitments from users with at least 200 reputation on the platform.
@dotboiclique
@gavofyork
@Web3foundation
@bjornwgnr
@Polkadot
The audio implies that the claim was made arbitrarily, but it was a 3 year process working with the SEC to get there.
DOT was a security for some time, and during that time, it did not enter the US markets. The same cannot be said for other tokens.
The
@Web3foundation
recently released a statement saying that
@Polkadot
DOT token has morphed, from a Security to Software. In a follow up podcast, they go much deeper into the details.
I break down everything for you in this thread, so follow along.
Unfortunately, I found this interview a little cringe because on one side you have someone speaking about cryptocurrency and decentralized finance, and on the other side you have someone speaking about blockchain and decentralized applications.
Web3 is much more than DeFi.
few.
Imagine a blockchain which does not appropriately set fees in their system, such that they are vulnerable to sybil attacks / ddos, then going down all the time because of it.
But yeah, I mean, NFT minting prices are super low so i guess it is just "priorities"...
People still sleeping on the fact it costs ~$200 to mint & deliver
#NFTs
to 10,000,000 users on
@solana
using state compression, a couple orders of magnitude cheaper than its closest peers.
If you watch one video from
@Polkadot
Decoded, this is the one to check out.
Remarkable because you wouldn't even notice what is happening in the background. It just works.
Ran the same script on
@Polkadot
.
Data indicates ~34,000,000 more $DOT will be unlocked by the start of the first slot auction. In total, ~85M $DOT is waiting to get unlocked, hopefully, all to participate in crowdloans.
🚀🚀🚀🚀🚀🚀🚀
@giottodf
I can confirm I don't like your program at all. I have made that abundantly clear in my forum post made in July:
I can deny any specific influence over the actions or behaviors of the ambassador program besides those I have made publicly.
Don't blame me.
@chiefbuidl
@Polkadot
The current Parachain auction mechanism uses a bond, rather than a per-block fee, which allows these chains to have predictable costs over the span of two years. We have seen many dApps die because of unpredictable fees, causing users to no longer outcompete other traffic.
@Polkadot
team had to treat their network and token similar to a public company. This helped ensure that the DOT token never crossed any lines in the eyes of the
@SECGov
, and provided safety to token holders, which we can see has been relevant recently.
@giottodf
Honestly would rather you vote nay than continuing to be toxic to other actors in the space and spamming an account that I would like to follow for actual insight.
I don't know what you are trying to accomplish to both abstain and be annoying.
Use your influence wisely.
Let's see how cool my followers are.
This is an 8 DOT gift using
@NovaWalletApp
on
@telegram
.
I want whoever claims this to make a public gift for 4 DOT.
Let's repeat this two more times down to 1 DOT.
History will be visible on-chain. :)
Quote me!
For the
@giottodf
haters, I think you should hate less, and DO more. Wake up the other whales, accrue delegations, write down your ideas, build up an audience...
Make the change you want to see.
Thank you again
@GldnCalf
and
@giottodf
for sharing your conversation.
I like generally that
@giottodf
is experimenting and pushing both physical and emotional buttons.
I hope that he does not take it personally if his proposals are NAYed or even if we attempt to slash his deposits in the extreme cases.
First problem is rewarding users to vote a certain direction. This should be an instant NAY for any proposal. Bribery is never okay. While
@giottodf
may not be malicious in my eyes, such a proposal IS malicious, and I would support slashing of anyone who makes such a proposal.
Based on the twitter space,
@giottodf
said that he is interested to repeat this referendum every month, manipulating the parameters. I think this would be a strong justification to slash the future proposals, and make it clear that this kind of treasury spend is NOT okay.
Just merged an M-of-N social account recovery pallet for
#Substrate
. Now everyone can feel more safe using next generation blockchains like
@polkadotnetwork
or
@kusamanetwork
without the fear of losing their keys.
I'll speak for myself on this topic.
First, yes, I generally agree with the idea that users who have their tokens locked longer are more likely to make more informed long term decisions for the network.
Update regarding proposal 431 (Buffet idea):
After some discussions with
@shawntabrizi
@kirushik
and other people I realized that there is a much better option than buffet idea.
@shawntabrizi
introduced me to the idea of conviction staking, basically the idea of allowing people
@KryptosChain
@gavofyork
@rphmeier
Imo this is the right outcome. This looks like a grift to extract money from the Treasury.
As with any proposal, there should be small budgets allocated first, and proof that those funds are being used successfully.
Turn a one year plan into a 2 month plan, and show it works.
Additionally,
@Web3foundation
had to manage the distribution of the DOT token, even excluding large purchases from VCs who were only interested for speculative/financial purposes, and making sure individuals do not hold a large percentage of the network.