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Liquidity Provider reimbursement proposal

Discussion in 'Pre + Budget Proposal Discussions' started by yidakee, Apr 14, 2016.

  1. yidakee

    yidakee Well-known Member
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    Hi everyone.

    Decided to submit this proposal, as I believe it is important to honor commitments. It’s the whole reason Evan is re-writing the budgeting system in v12.1

    https://www.dashwhale.org/p/LP-reimbursment

    dash-cli mnbudget vote-many 67ac31509a45d548dcda26802cb4df4d036d9f27faa568dff13ad2f3edc2b3bb yes/no

    The Liquidity Provider initiative started on the 25th of September 2015, but only 3 payouts ever rolled out. People have been running mix-wallets basically out of good will. 4 payments in total did not happen.

    A deal is a deal, at least in my book. I hope the community is sensitive to this.

    Price appreciation is surely a valid concern, and thus babygiraffe’s new proposal makes perfect sense! There are at this moment of writing 1694 unallocated Dash in the budget system. I submitted a proposal for the total amount of non-payed months + proposal submitting costs (560 + 5)

    These funds would be divided between the team of 6 = 93,34 Dash each total

    Now more than ever we need DarkSend (Soon PrivacyProtect) to operate at its fullest potential. Evan has yet again found some implementation issues that will vastly improve DarkSend, but we still need Liquidity Providers to make the network super responsive. In the near future there will be no need for Liquidity Providers at all.

    Now more than ever because high-level Merchants (Like ProtonMail and BolehVPN) are starting to adopt Dash. This will be a massive help to attract more merchants in the privacy sphere (that a team is working at in the background). I’m sure everyone with privacy concerns will want to test or even stress test the efficiency of Dash.

    On behalf of the Liquidity Provider team I hope you vote YES to this proposal to incentivize the magnificent work the LP team is doing, providing lots of personal funds for the mixing process, as well as monitoring all sorts of stats regarding it.

    Support DaskSend!
     
    #1 yidakee, Apr 14, 2016
    Last edited by a moderator: Apr 14, 2016
  2. UdjinM6

    UdjinM6 Official Dash Dev
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    Don't get me wrong, I understand that having additional liquidity while network is small is a good thing but...

    As far as I see we currently at 6th payment of 12 in total for this proposal and 3 out of 5 months were payed https://explorer.dash.org/address/Xefq4M6mZk9tXzsQgLvsEYdXTm3AQKv99d
    Where did "7 payments in total did not happen" come from?

    I was arguing that it's way too much for the declared purpose from the very beginning because I actually ran wallet myself for a whole month even before this initiative started. And even running wallet in aggressive mixing mode (with -darksendmultisession) I spent ~4.5 DASH per month. Would be nice to see some kind of report from liquidity providers with some stats e.g. number of mixing txes they made in total/per month and/or number of collateral payments they payed (i.e. how many DASH they actually spent during this period).
     
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  3. yidakee

    yidakee Well-known Member
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    7 was a typo, babygiraffe pointed it out - fixed

    Rectroactively, I dont agree. Proactively I absolutely agree on Liquidity Provider V2 with a reduced payout. Like I said, a deal is a deal, just as we all discussed around the PR proposal. When this was set up, Evan and I discussed exactly that, and I was the first to push the idea of a regular presentation of stats. But Evan was against this. No policing needed as the team is trustworthy. And you are present in the discussions, it's more than evident people are doing their jobs. Please refer to the very first post on the team-chat and see!

    There is spent collateral, and then there is amount of time and effort put into it. You're in the team-chat, you know how much time and effort the guys put into this. And the payout is not that much anyway. 93,34 / 4 months = 23,335 - I would say it's a small price to pay to have DarkSend on steroids!

    We have both funds available, and lack of other "better" proposals. I have absolute confidence these funds will be allocated to mixing! I didn't discuss it with the team, but I'm absolutely sure they'd be more than happy!

    They've also put up their own funds (againts, say, setting up more nodes, or liquidate, or whatever) for this very initiative. And far and above, the word of compromise towards a "firmed pact" - I only think this is morally correct.

    If price had depreciated, I would still present this very same proposal in the very same manner.

    .
     
    #3 yidakee, Apr 14, 2016
    Last edited by a moderator: Apr 14, 2016
  4. UdjinM6

    UdjinM6 Official Dash Dev
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    Look, I'm not asking to post txids (that would be dumb and could potentially damage privacy), I'm only asking for some kind of summary like "We had X1 txes in total which cost us Y1 DASH in total, that's around X2 txes and Y2 DASH per month". This would give the idea if the whole thing is working at all (if there are many txes) and do we actually need to continue or do we need to fix smth or search for a better solution (no idea what it could be though). Next, I don't think that it hurts to know how much people are getting for their participation. And finally, it's interesting to know how expensive it would be to participate/mix on your own.

    And I also don't really understand the logic behind V2 yet, posted there.
     
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  5. yidakee

    yidakee Well-known Member
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    Totally agree with you. Evan said no.

    let me share this with the community, again, for the sake of transparency.

    [​IMG]
     
  6. yidakee

    yidakee Well-known Member
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    V2 is a revision of V1 because of price appreciation. Meaning, reboot Liquidity Provider, but with reduced payout.
     

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