Closed DwightDomi closed 1 year ago
Eventuell i do not get the point of your proposal but if I understand correct, you ask for a buch of money to " gamble" on CEX for a profit?
@salomonkarsten
Thank you for the comment. We don't know where in the proposal you got the impression of a gamble, maybe you can explain your assumption in detail, but it is definitely not. We are working with limit orders in a fixed price range. So there are just two options, the order gets triggered and there usually is a small profit (over fees), yes. That is what we tried to reflect transparent in the proposal and give back to the community. The second option is that the order isn't triggered and basically nothing happens. So there is no asset risk at all, therefore no gamble. The point/benefit of our proposal is described under section "How does this CFP benefit the DFI community?". But we are happy to answer all your questions in our planned AMA next week. Looking forward to see you there.
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You have my 5 votes(!), so I'm sorry for the stupid question, but this is to the whole community: why does nobody ever include Bitrue when we talk about the exchanges that host DFI? They've been hosting it from the beginning and nobody ever gives them credit.
@vorpalmusic Thank you so much, that is highly appreciated! We totally agree with you, we learned that Bitrue is a very reliable exchange with an awesome support and nice people. We actually already onboarded Bitrue with our solution on a small scale (you can see the 800 DFI orders in the orderbook). The plan is to bring all exchanges "to the next level" step by step. We wanted to start with the three bigger exchanges and if everything goes well, to extend to other exchanges. Of course if the community wants that too! Cheers to you
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signmessage 8HFTrPEzS3FEeR6HHCB9iiGf68NLXFwPrS "cfp-2211-07-yes" H5kl6CogeyWD+B/8eiSRhydlOOMzNE2x33JSKVA/Z5CuUvGcBAoQGB0eQVwEpMWgc8IGjfwM/Hqo5NRXKkqkKwk= signmessage 8GxEcrsrR96EEtcbii1kM64LPXW92QzGZQ "cfp-2211-07-yes" H2j5IcB2mCG3ZoWrhXVpp6rNWIARHfSacwOGrMNxOrcXdAqLNimIHuBr6a0NFXF1E7TXSh4+x8GGCPIeIxMTQ1Q= signmessage 8Lv62hAyVrYoJAV1whDANgBCeuYWAHF2eQ "cfp-2211-07-yes" IK3e2cb/MkMPFNrl9/v5p3W+/R0X2BO41FgGz8oqrGs1HgYw0J0Bk+U7Jyv0+XnU2rzD656Pj8jWdnghxHrJkLI= signmessage 8HWCo5dqMrmz2K83mLoThZAcvyvuGWpJmS "cfp-2211-07-yes" IMZlUVRlEqnZVE3T/HFPyfLmmxLhoXepFvBgaJuX+sc+CjzKfGYhtQFT93jw0J8YT/NrkXzUxtnw6vPKA2m6H9I= signmessage 8Pkucz3qpR4nHYkHhLFdpAAzaHduyppdRQ "cfp-2211-07-yes" IG4wrmU7JocTWAV6H+hXbOHIVJV2G/uEfLQOC3ZIwdocQ2nNt4pRB+ZBx0TuLOdWGlCeaOnX0yEfbpp449p9WWI=
signmessage 8bTcuVA2TTtA1dUsmXW5Xs1PfeEcqbMYeW "cfp-2211-07-neutral" IGMrbja1aPZKOHrLdpaXmZeGEGk6UDRFiKOxSXrbA0SebbpAZnaRXv6tbq7RaxsY6iNQEYqoe7yq+3p5RtTolXM= signmessage 8bR3E3HYa9neUURx9SKFMqzbH5WR7PEQWk "cfp-2211-07-neutral" H/r7s/clZhOaF2pc41xq+SY02YaZTQ0L3tWGNBmbgU0MYpE32erEtpeKJD9Nym9/8ZP7axWv7AIqvRymGWgNnq4=
$ defi-cli signmessage 8FRiNcUVud7B8Kw7nmnZ3jp3Pw7wQ4AQAy "cfp-2211-07-yes" IHciIrUJHYDOWa+LUM6LXHxtGAqKJyrgXbg8wiXqzqx+Fun1ZRZzVggQwQJM7U2zK/Gj5KrP2tBUMS/4VrbVurU=
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$ defi-cli signmessage 8ccminZPSFox6bRseAgdqLccKvLs2aGHtr "CFP-2211-07-yes" H9NM5XPJDaZBul6VkB+aIYVvf/8yaXf0ZmfOQcU46tKQdt3i5GzD9OnRRs4e/S9ycUciZS5uIMFYH9VIeNw7bd4=
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$ defi-cli signmessage 8V3tf3kPf7K3J5vE7QXUXUEYyQG9YJc5re "cfp-2211-07-yes" IFpU5Q/tYi2Dwfso4mrJOm4SYiPQvXULdlpZWgIs//bpcweEHPyyY5zwUp7/nyoEmuLTIjpp4tPUnOcVfSJCvSo=
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signmessage 8Mw8KMvN2YuGVwnhbbrtkAttVyKRLGxKwF "CFP-2211-07-no" INyjRHtRCehr5oyAJbnk/gUZ2b0nV/CNwd0wDYjaI8fEEcsbz/pVDVZ/NUaFv3ddGxj2VBVJkuFBGfl9yrWEzYQ= signmessage 8cPGVbNJQNhJngL4vy3uiouERY2V69njsY "CFP-2211-07-no" IAkESS3I6Sq7mTUISKSHP5qJ0QhDVj63mEUhEMvy8XeqHmb90OiRlzWRgf5UHasjBBsjqpOJhe221Zdz9Y2jzH8= signmessage 8Yj8Pg2b6gCVfyKsyJZcA6VVzQigrPu5yu "CFP-2211-07-no" IJQUqft6lgBd1w4kDR2On+EF2BtBHUtWtLtV0F+l6y7PAD+dbXzfVWKrXjTZ61U+sXV2f1xGvVwlhxxk4FN3ckc= signmessage 8WCkEDDx68AU9Tx64ZvtzpbXxpfub32w2z "CFP-2211-07-no" IGPS9go9FDf1+xxLBZ4/A5/KpN9sEt1JvZReK+wYQUN5aLX9wgLoNq9Fj7W5OWr1wHpLlMmrDlBt98nf4r0bVvE= signmessage 8JEfMF6U6YL39swiQhQEqDwQZpHwLzA2tp "CFP-2211-07-no" H16++EfvM84FwMn2pPty4BDJa5uJbnbBc0Vufaie4HjBEuSJNW3qKaJ+OwyY3ox59Wq17NLW0ito+K3GD2iDWBI= signmessage 8dwYRFNRwetLq84PE4ajSe3LBna39m7PSz "CFP-2211-07-no" IOXvDXbaTIU3fRT5/yyVYyfjsV6VvlkD9NJTGoZiGPNwatCOut0hpiwTlGeXqzTBDZSkPkcSaaaEgiB1QdnPnPE= $ defi-cli signmessage 8PUEjTvGivhFWuSrk2PLLksR88gZ72SpXD "cfp-2211-07-no" IPE6b1b+VHiXorVYYi18YAwI1SPq/V9r6qeVJbELw3YAY8UOC6X+F60LExeuz/x2LqG0w+n6Cc4Yarznjj/R1ns= $ defi-cli signmessage 8SUn3fKmL6i2bTuh7DLnLPEpoFgcqNCUgE "cfp-2211-07-no" IFSQbmzUbJnfflit/Pm7QdcyI6EYrJrVpi98xrKYtsJlc80R2ixxpgd0gE55H1ocA8uIxmgQWaC2L+N2DFMCFJ0= $ defi-cli signmessage 8ZVS15wW8qyh6chG7oC5JjsWCXuUC49qR8 "cfp-2211-07-no" IC/rTRNfEhpcx/KA2WkDE93/s6yHUD9/2cZ9KjbJFtrfJDvblBUDYPtQXq+6rD55LyOblhEcYV7GqwA5aRQAE3o= $ defi-cli signmessage 8chDCz3tPehrgW5iNPTjRnUtKWu8np1fWi "cfp-2211-07-no" H1xQ+m5tW2WZh/RX+nHe7GFMBPNPA5qri6nwpbmHZbrjC7kF1dZwUuwJZvknRW9oxYf5qG8kATxJEqAOG5B+fRw= $ defi-cli signmessage 8H3Ag37mXnqPhWCodR4xeXABXHmFVPKetk "cfp-2211-07-no" H9AibLsiscoe9WEU/bPe/Q5OWZFMWBGgSsYrg7A3M6fLHYrt8Nsl6WufohgB8sP1TaLWHbLZd/Rnrt1wq+/DAh8=
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Initial comment, slightly edited:
I do arbitrage, with my own money. My bots are already doing what these guys intend to do with funds that belong to the community.
If there is significant volume on the CEX, I'm already bringing it to the DEX. Right now there just isn't much volume, and their orders won't change that.
The Community Fund is intended to fund value-creating projects.
Changed view: After talking with the founders, I agree with them: more liquidity on the books will convince more investors and thus bring volume, the 70% is to cover costs, the orders will be at at +2/-2%. This proposal has the potential to bring Defichain to more exchanges at no significant cost to the community, and so I am voting for this community fund proposal now.
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$ defi-cli signmessage 8MciyAFekCd1HwV2pp2DpUeL5UgWn98tg6 "cfp-2211-07-no" H/74BJc/kEBcacIhDk+l+DaqFAQA3IDqZ7xHjk/pZrzeZFGWIEz+TmHwjokz1lyx4sIuFrO3myR3orKR1sZcGo0=
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Overview
Describe your proposal
With this proposal we are aiming to improve the trading experience of DFI and to bring DFI to the next level on the road to #50.
It is with the above that it is proposed that:
How this would help with the above issues:
How does this CFP benefit the DFI community?
With the approval of this proposal, DFI community could benefit from:
It is important to understand that the profits which are possible here arise anyway, regardless of whether this CFP is approved or not! We can work together to ensure that they do not leave the ecosystem and deliver a benefit to us all. The amount of the expected profits can vary greatly and can only be determined after the initiation of the measures.
How does this work?
We will use the 375.000 DFI as working capital for the additional Liquidity, Make-it pro will add the similar amount of USDT and BTC out of their own funds to bring a Buy Side. This will ensure that no DFI of any kind need to be sold from this CFP.
We have been running a self-paid test of this solution over the last few months and now want to take the next step. For this we need the above mentioned amount of DFI as working capital. We can always add more exchanges if needed or further increase the amount of liquidity. Proof of Addresses: https://defiscan.live/address/dUhbTwhGNLKZLNxTFD8HFAEohWi7hvD7dd https://defiscan.live/address/dXqV51odFgQF4DBAZ4TMH1bhFDwejnyZGn
A part of the profits (30%) will flow regularly and transparently to an address, which we assign to the D-Fund. As described, these profits will accrue in USD/USDT and BTC. We will manage the profits according to the greatest need within the ecosystem. In the current situation we will buy DUSD and additionally trade D-Stocks. More about this in the description of the D-Fund.
Why 30% of the profits?
For various reasons, we can not take this work on the Private Balance. This means we need to work as a company. Which has the consequence, 25% Taxes as well as employee and accounting costs, furthermore we carry on the brought in USD and BTC (which must always be the equivalent amount of the DFI from this CFP) the complete risk in case of loss (e.g. exchange default risk).
We will post the Discord link 30 min prior to the AMA Start in the comment section and on reddit
Non-obligation I understand that vote of confidence for CFP 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.