derstrecker
commented
2 years ago Please note the Reddit discussion, what was open for one month, is deleted, since all can also be discussed here. After I raised this Dfip some additional questions were added there, so I will transfer them here:
"Any research already on what downsides this DFIP coud have or some if/then scenarios?" This proposal was under discussion on Guthib and Reddit for 1 month, until I opened the Dfip. The links were posted several times on all relevant Telegram-Defichain-Groups. The only concern was the security of the network, which I addressed best as I could. There may be more scenarios, of course.
"Is there an estimate of how many masternodes would possibly use the offer and how much impact that would have on the liquidity mining pools and the current price shift?" Since it is impossible to send a message to all masternode owners and do a poll, this can not be answered. All reactions since one month always had been positive and many told "I will vote for this with my MN". According the usual weak participation on votings in the past, only some discussion on Reddit and Github (nevertheless very valueable), I also decided to put this proposal on donation basis for collecting the fees, before transferring it into a Dfip. This should show the openness and willingness in action. The fees had been collected only after about 2 days, so I was encouraged to put this up. Regarding the LM: All such actions on a Blockchain effect their work, rewards, etc. I can't see a special problem with this one - but that's the reason for the RFC period.
"Who will implement this function, has this already been discussed with the coreteam or do we have to hope that they will implement it? And what if not?" Since this is my first Dfip, I asked for help in all relevant Telegram-Defichain-Groups. None told me, that there is a need to ask the coreteam or how to contact them. Even now this need seems not to exist, since I couldn't find a note on the procedure to set up a Dfip with this need, but I may be wrong, since it makes sense. Until now, it seems no one knows about this, if it does exist. It is a community project and everyone can propose, so it's told. Part of the Dfip already was discussed and somewhat accepted in the past: The transfer of ownership of freezer-nodes, so this Dfip adds only one more step to this. Additionally I tried to open this issue on a discussion on twitter, but was removed as soon as I tried out for "formal reasons". Since there always is a "Non-obligation" note on all Dfips, everything always is open and never final. There may be good reasons to not include this feature - but since it exists in traditional finance, there should be found a decentralised way. Nevertheless I look forward, since those who vote for it, are those who benefit first. Masternodes are the technical heart of every Blockchain, and the idea itself is "pure DeFi", as I understand it. To strenghten and support the heart, and encourage to open up and keep more MN, should strenghten the whole system at the core.
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DFIP Overview
Requester(s): derstrecker [Github] aka Abuna Semai [Telegram] Proposal fee (50 DFI) txid: https://defiscan.live/transactions/c896085910eafa33762b6ab073f2019145fa58c96ad7427999a2bd52b28c4eeb Inspired by Agent Switters :)
When the Freezer-Masternodes (MN) were introduced, there was the idea of enabling a change of owner of a Freezer-MN at some point, i.e. the sale. Based on this, the following idea:
The owner of a house can generate rental income as well as take out a mortgage on the house in order to be liquid. The same financial principle can also apply to masternodes: The rental income corresponds to the rewards, the mortgage to the following:
Possible deposit of a MN as security for a loan. This loan can amount to a maximum of 10K in dUSD, in order to remain at the maximum of an auction tranche (anything else is likely to be too complicated to implement for the time being). If the value of the MN falls below 10K (unlikely, but not impossible), the collateral (here the MN) can be auctioned off, as usual. I.e. after a successful auction, a change of owner takes place. According the Defichain-Masternode Telegram-channel, the function for transferring a masternode is already programmed, just not yet implemented. Since the masternodes run on the desktop wallet, the Vault/Loan function must be added there.
The Dfip includes:
In this update optional, not mandatory:
In order to take into account the higher value of a freezer MN, the lending rates can be adjusted accordingly. According to the current value, a normal MN would have a collateralisation ratio of 670% and would be subject to a selected min. coll. ratio of e.g. 200%, which would cost 2% in fees. A 5Y freezer node could have a 25% discount on these fees, and a 10Y freezer node could have a 50% discount. The min. coll. ratio can be determined by the borrower as before within the scope of possibilities.
Network Security The network would not be subject to instability since an auction and a change of owner would be quick. Freezer MNs can still not be resigned after an owner change and keeps on its original freeze-duration (current share of freezer MN in the network: 31%, as of 26.1.2022, according to statistics from mydefichain). Also, the liquidation of a MN is unlikely, as with 20,000 Dfi of the MN and minimum collateralisation of 150%, the Dfi price would have to fall to 0.667 cents. In addition, if the existing vaults or a separate type of vault with otherwise similar functionality are equipped with this option, there is the security that the MN owner can add additional tokens for protection, such as dUSDC or dBTC, until the Dfi share reaches the usual minimum 50%, thus doubling the protection.
Since all masternode owners benefit from this, everyone was invited to help setting it up by helping to raise the Dfip fees, which are 50 Dfi in total. These are already collected on this address: https://defiscan.live/address/dbDmgzKrBA86QiZtceUbEkUJrREQQGLxqj
How does this DFIP benefit the DeFiChain community?
GERMAN
DFIP Übersicht
Antragsteller: derstrecker [Github] aka Abuna Semai [Telegram] Vorschlagsgebühr (50 DFI) txid: https://defiscan.live/transactions/c896085910eafa33762b6ab073f2019145fa58c96ad7427999a2bd52b28c4eeb Inspiriert von Agent Switters :)
Bei Eröffnung der Freezer-Masternodes (MN) gab es die Idee irgendwann einmal einen Ownerwechsel einer Freezer-MN zu ermöglichen, also den Verkauf. Darauf aufbauend folgende Idee:
Der Besitzer eines Hauses kann sowohl Mieteinnahmen generieren, als auch sich eine Hypothek auf das Haus aufnehmen, um liquide zu sein. Dasselbe Finanzprinzip kann auch für Masternodes gelten: Die Mieteeinnahmen entsprechen dabei den Rewards, die Hypothek dem folgenden:
Mögliche Hinterlegung einer MN als Sicherheit für einen Loan. Dieser Loan kann maximal 10K in dUSD betragen, um beim Maximum einer Auktionstranche zu bleiben (alles Andere dürfte vorerst von der Umsetzung zu kompliziert werden). Fällt der Wert der MN unter die 10K (unwahrscheinlich, aber nicht unmöglich), kann das Collateral (hier die MN) ersteigert werden, so wie gehabt. Dh nach einer erfolgreichen Versteigerung findet ein Ownerwechsel statt. Laut dem Defichain-Masternode Telegram-Kanal ist die Funktion zum Übertragen eines Masternodes bereits programmiert, nur noch nicht implementiert. Da die Masternodes auf der Desktop-Wallet laufen, muss die Vault/Loan-Funktion dort hinzugefügt werden.
Das Dfip beinhaltet:
In diesem Update optional, nicht obligatorisch:
Um den höheren Wert einer gefreezten MN zu berücksichtigen, können die Beleihungszinsen entsprechend angepasst sein. Nach aktuellem Wert hätte eine normale MN 670% Collateralization Ratio und würde bei einer gewählten Min. Coll. Ratio von z.B. 200% 2% Gebühren kosten. Bei einer 5Y gefreezten Node könnte ein Rabatt auf diese Gebühren von 25% erfolgen, bei einer 10Y gefreezten von 50%. Die Min. Coll. Ratio kann dabei wie bisher auch vom Loan-Nehmer im Rahmen der Möglichkeiten selbst bestimmt werden.
Netzwerksicherheit Das Netz wäre nicht instabil, da eine Versteigerung und ein Wechsel des Eigentümers schnell erfolgen würden. Freezer-MN können nach einem Ownerwechsel weiterhin nicht aufgelöst werden und behalten ihre ursprüngliche Freeze-Dauer bei (aktueller Anteil der Freezer-MN im Netzwerk: 31%, Stand 26.1.2022, laut Statistik von mydefichain). Auch ist die Liquidierung einer MN unwahrscheinlich, da bei 20.000 Dfi der MN und Mindestbesicherung von 150% der Dfi-Preis auf 0,667 Cent fallen müsste. Zusätzlich besteht die Sicherheit, wenn die bisherigen Vaults oder eine gesonderte Art von Vaults mit sonst gleicher Funktionsweise mit dieser Möglichkeit bestückt werden, dass der MN-Owner zusätzlich weitere Token zur Absicherung, wie dUSDC oder dBTC hinzufügen kann, bis der Dfi-Anteil die üblichen Mindest-50% beträgt, somit die Absicherung verdoppelt werden kann.
Da alle Masternode-Besitzer davon profitieren, wurde jeder eingeladen, bei der Einrichtung zu helfen, indem sie die Dfip-Gebühren, die insgesamt 50 Dfi betragen, gemeinsam aufbringen. Diese werden bereits unter dieser Adresse gesammelt: https://defiscan.live/address/dbDmgzKrBA86QiZtceUbEkUJrREQQGLxqj
Wie profitiert die DeFiChain-Gemeinschaft von diesem DFIP?
Non-obligation
I understand that vote of confidence for DFIP carries no obligations by any developers to implement the proposals. DeFiChain is a community projects. Pull requests can be submitted by community and reserved to be evaluated for safety and general community acceptance.