VIP-9 List Cardano ADA (vADA) & Reduce VAI Emissions
This proposal adds Cardano as a supported asset, and implements an updated contract that supports vADA.
Asset Summary
Cardano is a top cryptocurrency project that is listed on many top exchanges, has sufficient liquidity, and poses a low security risk. However, as a new market, it is being introduced with conservative parameters; a Collateral Factor equal to FIL and BCH (which are both less liquid, smaller market cap tokens) and Reserve Factor of 20%. The Venus Distribution rate will be set at 150 similar to DOT.
The ADA market uses the same interest rate model as other crypto assets, with an upper straight line APY increase at 100% utilization.
Contracts
vADA is an upgradable vToken contract with no changes made to the core vToken contract code. The vADA contract has been peer-reviewed by Venus Protocol and community developers, but given the limited scope of the modifications, has not been audited by third-party professional auditors. Price feeds will be from the same pricing oracles and use aggregated market values updated in the same manner as other Venus assets.
Other changes VAI emission rate to match other stablecoins on the platform.
So this is the first post I see from a moderator make for weeks - while at the governance forum plenty of users are making proposals and raising concerns. How about interacting with the community as it was supposed and it was a few weeks before.
I kindly suggest interacting with the community before it all goes downhill and the community (highly invested) will say enough is enough and start leaving and probably start FUD around Venus.
Vai shouldnt
be similiar to others stable coins… since the value of VAI is pegged to the crypto we do supply at Venus… making it similiar as others make it a no worth bet to play as its a brand new coin and well if people wanna to risk they will use stable coins pegged to dollar… instead pegged to others crypto…
Ron doesn’t need to be here. He’s a xvs hodler and had a massive amount of faith in the project from the get go. He is not part of the Swipe/Venus team and his work here is voluntary so we should thank him for his contribution.
We are the fastest growing Defi project & only 1b off AAVE tvl & have an exciting roadmap to look forward to. Why is it all going to go downhill?
Seems that you’re already passively fudding.
It so might be but I´m not saying that I am not thankful, I´m kindly asking to interact with community. Or don´t you agree that we just have a bunch of hodlers playing De-fi atm?
No one is discussing if we have a good project or not, we are here because we believe in it and we are (or as you say, I am) afraid of going downhill specially when there is no interaction with community. If you think I´m creating fud, I accept your opinion but no worries, as an investor, I´m free to jump of the ship whenever I want and when that happens you´ll stop hearing from me… no more fud…
I think the point is that it is a community driven project & we all add value to it.
Head on over to the telegram groups & there’s lots of interaction with the community moderators.
If you want pictures of rockets join the price chat, if you want more sensible stuff join protocol and or governance chats.
Exactly my point. I am in the telegram group and we already interacted through there too - in the governance group. And we are not being heard so not a community driven project… exactly why I am asking for it. We are plenty with good ideas, worries etc… and we been “silenced”. No discussion anymore… ideas, roadmaps, etc. all made without community discussion… and even if we could gather votes for proposal, then for instance we wouldn´t have, the keys to fix it (ref. to the XVS borrow issue).
So if it is a community driven project but we have no contact with the ones that can actually make and implement ideas, how do we add value to it?
but anyway… this is my last response. We are on the same side, it just surprises me that you are happy with community not having a word on anything. Just like ADA implementation… we were only informed, no discussion. And ADA is not even a problem.
1- provide updates on the latest proposals that the team is putting together. I’m sure that you saw from JL’s Medium article that there is a roadmap with a number of items they want to launch in 2021
2- provide a space where the community can discuss ideas, and eventually agree on proposals to improve the protocol
As it currently stands, I understand your frustration; until vXVS tokens can be used to vote, I don’t expect the community to proactively put together ideas, discuss them, and pool sufficient tokens to propose and pass these ideas. I would say we are in a sort of transition phase until that happens (rest assured it is on the roadmap).
However, as another poster stated in this thread, I’m not part of the team. The people running the forum, as well as the TG groups, are volunteers. While we have a (distant) relationship / communication channel with the team, we are not part of the team. We are just like you. For you to request something from me, is literally the exact same as if I were to request something from you.
We do what we can to support / improve the project, and for the time being and especially until vXVS tokens are eligible for voting, I would consider this forum a great place to start gathering insights and ideas. If there is a really solid idea that the community all agrees on, I would imagine we would also have a chance of catching the team’s eye and getting it done through them.
I appreciate your words and I´m sorry for making such assumption. Obviously, it´s hard to know who´s directly involved with the project or not, specially when, right after VIP 6-8 communication stopped in this forum from all moderators.
To be clear, my intention was not to make request but rather a suggestion. I have a feeling that lack of communication is core to the doubts and issues that we have in the platform. That affects more the overall success than the actual issues, therefore my “stalking” for any post of a moderator - being part of the devs team or not.
I look forward for constructive discussions on proposals with the truly engaged community and devs and I think it´s fair to say that roadmaps does not represent the best of a decentralized platform.