[HN Gopher] The 0x community DAO. The next step towards decentra...
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       The 0x community DAO. The next step towards decentralized
        
       Author : karlzt
       Score  : 13 points
       Date   : 2021-03-12 21:32 UTC (1 hours ago)
        
 (HTM) web link (blog.0xproject.com)
 (TXT) w3m dump (blog.0xproject.com)
        
       | ketamine__ wrote:
       | The next step towards being hacked.
        
       | latchkey wrote:
       | I've been participating in my first DeFi DAO project and as a 20+
       | year ASF member, this is literally open source v2. It is really
       | fascinating to be part of this new generation.
        
         | ketamine__ wrote:
         | Earning 8% interest off assets that are already speculative
         | with counterparty risk. What could make more sense?
        
           | cliftonk wrote:
           | These protocols typically have various strong incentives to
           | prevent drops below a certain collaterization ratio.
           | 
           | There is a real danger that ETH/USD moves too quickly while
           | gas fees get too high for the system to function properly and
           | we see a lot of defi losses. I don't think this is likely but
           | it could happen.
        
       | seniorgarcia wrote:
       | I was hoping this is Dragon Age Origins but it is just another
       | crypto scheme. Or whatever this is...
       | 
       | >If a majority and at least 10M ZRX in voting power are cast in
       | support of the proposal, it is queued in the (optional) Timelock.
       | 
       | I have been on the internet since 1996 and that sentence just
       | sounds like "we'll print money unless you stop us". Which is
       | great, even though I have not been part of this particular money
       | making scheme, I have profited of similar crypto monetizations.
       | 
       | I think I do not understand stuff like this anymore: "We created
       | an on-chain binding governance system able to perform arbitrary
       | actions on a 2M ZRX community-owned Treasury, seed-financed by 0x
       | Labs. The smart contracts work in orchestration with 0x's
       | existing staking system, for what concerns both the voting power
       | delegation management and votes cadence."
       | 
       | Even having read the ToS from https://0x.org/terms it feels like
       | I understand even less now. It sounds like you put money on their
       | ledger and you are fine with whatever.
       | 
       | I think I don't understand crypto and I would like to play DAO. I
       | share a really popular Dragon Age Inquisition spreadsheet if you
       | are interested in something completely different:
       | https://docs.google.com/spreadsheets/d/16Pt3AMXjBogM7UZ7Y92-....
       | I'll approve your edit or copy requests soonish...
        
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       (page generated 2021-03-12 23:00 UTC)