Profile of yatsiu in ApeCoin
Posts by yatsiu
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BREAKING! Yuga To Delegate 6.5M APE to MBA Holders
by yatsiu - Accepted AIP Author
Posted on: Sept. 14, 2024, 11:17 a.m.
Content:
SmartAPE:
Great to hear this, Yat. I was a tad concerned that based on past statements Animoca would increase the delegated wallet for a 4 th time.
I don’t think we ever said that, I think someone else suggested we should to which our response was non-committal.
Also I don’t think we increased it 4 times (could be wrong mind you) there were/are a few others who have delegated their tokens to the Moca delegatation but these are independents.
Likes: 1
Replies: 2
Replies:
- SmartAPE: yatsiu:
I don’t think we ever said that, I think someone else suggested we should to which our response was non-committal.
I see. Well, I was going by your comment here:
“Hi furiousanger if this were to happen we would probably match but it may also make sense to delegate to other groups too.”
yatsiu:
Also I don’t think we increased it 4 times (could be wrong mind you) there were/are a few others who have delegated their tokens to the Moca delegatation but these are independents.
0
1.5M
1.8M
3.8M
6.3M
While I am not certain about the provenance of Animoca’s delegated amounts in the first two, the last two were by Animoca in 2023, and in what I believe to be an attempt to counter Machi’s 7M voting wallet at the time. There were announcements on X both times.
- Gerry: You did raise it that many times actually and have gone back on your word that you would decrease it when a certain someone did as well.
You know what they say about power though.
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BREAKING! Yuga To Delegate 6.5M APE to MBA Holders
by yatsiu - Accepted AIP Author
Posted on: Sept. 14, 2024, 7:21 a.m.
Content: This is absolutely the right move and we have absolutely no issue with this, they have the right to delegate their property and as mentioned it’s great to see Yuga finally lean in more directly.
Likes: 9
Replies: 0
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Move Apestake staking protocol to Apechain
by yatsiu - Accepted AIP Author
Posted on: Sept. 5, 2024, 6:26 p.m.
Content:
penguinpecker:
if the staking still exists, it has to be on apechain. its literally no brainer! staking/unstaking cost good sum of gas on 3 rd party protocols like benddao so this could be another motivation for it to be on apechain.
That was my point and it’s more than just saving gas let’s at least make them claim the tokens on apechain and convert over.
Likes: 1
Replies: 1
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Replies:
- SmartAPE: yatsiu:
Our delegated tokens are fixed amounts after all, if they kill it it’s because they have ape coin individually as a presumption. Less dilution is arguably better for them too.
Well yeah, that was the thought process behind my opining that they are likely to kill it because it’s likely that some of them have personal holdings.
And while the less dilution is a good argument, I don’t believe that the ends justifies the means.
None of this matters now anyway, since the DAO won’t likely have the funding to do this in the short-term even if it goes up for vote.
yatsiu:
That was my point and it’s more than just saving gas let’s at least make them claim the tokens on apechain and convert over.
I wonder what it cost Polygon to recently migrate (which seemed to have gone very smoothly) from $matic to $pol because this could cost more.
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Move Apestake staking protocol to Apechain
by yatsiu - Accepted AIP Author
Posted on: Sept. 5, 2024, 6:25 p.m.
Content:
SmartAPE:
We can count on Moca to kill staking if such a proposal ever goes up. lol :rofl:
What makes you think they would kill it? Our delegated tokens are fixed amounts after all, if they kill it it’s because they have ape coin individually as a presumption. Less dilution is arguably better for them too.
Likes: 0
Replies: 0
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Move Apestake staking protocol to Apechain
by yatsiu - Accepted AIP Author
Posted on: Sept. 3, 2024, 9:18 p.m.
Content:
SmartAPE:
How exactly do you see that happening simply by moving our staking contract? I’m having a difficult time reconciling that.
It would have to be a redeployment and you would need users to unstake and restake and so there would be development costs involved.
There could be a cross-chain solution but that could introduce security risks.
Likes: 3
Replies: 1
Replies:
- SmartAPE: yatsiu:
It would have to be a redeployment and you would need users to unstake and restake and so there would be development costs involved.
Yup. I know how it would be done, but I wasn’t talking about that. It seems that I wasn’t clear with my question. My question was about this (bold):
“In terms of moving TVL it’s actually what happens when you claim tokens on another chain it creates utility and activity for people to build products and services on the new chain to avail themselves to some of that value flow which is the reason why L1/L2s build incentives for that and it has worked to increase chain activity/utility etc.”
How is moving the staking contract from eth to ApeChain going to facilitate the [bold] parts above?
There could be a cross-chain solution but that could introduce security risks.
Indeed. However, at a minimum, among other solutions, we could use something like an xERC20 cross-chain staking solution.
Anyway, it’s not that hard to do. Just need an experienced dev team. Thinking about it…now that ApeChain testnet is up, I can probably do a staging test using a Ganache environment, then deploy it. Sounds like a fun test - if only I had the time.
Anyway, I don’t believe that going through the hassle, costs and risks of migration is worth the effort giving that staking doesn’t benefit the DAO in any way, shape or form. We would just be throwing more of the treasury into a black hole - even when you take the eth fees into account.
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Move Apestake staking protocol to Apechain
by yatsiu - Accepted AIP Author
Posted on: Sept. 3, 2024, 8:24 p.m.
Content: I don’t think we will get a lot of support in ending the staking program although I generally understand your point. In terms of moving TVL it’s actually what happens when you claim tokens on another chain it creates utility and activity for people to build products and services on the new chain to avail themselves to some of that value flow which is the reason why L 1 /L 2 s build incentives for that and it has worked to increase chain activity/utility etc.
To the extent that the staking program already exists and on the assumption that we can’t end it as it won’t succeed a vote why not make the staking program work for Apechain is the thinking.
Likes: 4
Replies: 1
Replies:
- SmartAPE: yatsiu:
In terms of moving TVL it’s actually what happens when you claim tokens on another chain it creates utility and activity for people to build products and services on the new chain to avail themselves to some of that value flow which is the reason why L1/L2s build incentives for that and it has worked to increase chain activity/utility etc.
How exactly do you see that happening simply by moving our staking contract? I’m having a difficult time reconciling that.
yatsiu:
To the extent that the staking program already exists and on the assumption that we can’t end it as it won’t succeed a vote why not make the staking program work for Apechain is the thinking.
I have actually been working on a proposal to completely kill it. Whether it passes or not will be up to the DAO and our whale voting overlords.
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Move Apestake staking protocol to Apechain
by yatsiu - Accepted AIP Author
Posted on: Sept. 3, 2024, 9:46 a.m.
Content: PROPOSAL NAME: Deploy apestake to apechain from ethereum to apechain (when ready)
PROPOSAL DESCRIPTION:
About 150 m ape is staked on apestake, I propose that it would make sense for the DAO to deploy the staking contract exclusively to apechain once it is ready.
BENEFIT TO APECOIN ECOSYSTEM:
Creates immediate TVL for Apechain which is a relevant metric, accelerates utility on chain not just for staking but other defi opportunities should they arise and brings all the relevant ecosystem members onto Apechain on pretty much day one. It will also increase utility for Ape and will effectively move ape and ape users onto Apechain instantly.
There are several considerations chief among them is that the staking contract will need redeployment and changes that have not been scoped at this moment in time and the related costs.
Tokens will also need to be bridged across which will need to be supported in Apechain anyway so presumably that is not the biggest hurdles.
This is an idea discussion and we will also not be the party that will implement this, maybe the previous developer (Horizon) can consider doing this given the mutual incentive on hand.
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AIP-489: Restoring Balance
by yatsiu - Accepted AIP Author
Posted on: July 8, 2024, 3:59 p.m.
Content: @Gerry I am responding to @furiousanger question in the event that it might happen. The Otherdeed bag does not belong to Mocaverse, it belongs to Animoca Brands (same with the Apecoin). It is still our choice to delegate it so it is by no means confirmed that Mocaverse would have an Otherside block at this moment in time.
Likes: 1
Replies: 0
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AIP-489: Restoring Balance
by yatsiu - Accepted AIP Author
Posted on: July 8, 2024, 9:02 a.m.
Content: Hi @furiousanger if this were to happen we would probably match but it may also make sense to delegate to other groups too.
Likes: 3
Replies: 0
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AIP-436: Enhancing Financial Decision-Making with Super Majority Voting of 69% for Allocations over US $250,000
by yatsiu - Accepted AIP Author
Posted on: May 8, 2024, 10:33 p.m.
Content: This is great and I would be supportive, the suggestion could also include tiers so maybe you say 1 - 2 m is 2 / 3 and 2 m and above is 3 / 4 because there is also the minority veto you don’t want to hold a good idea hostage on.
This btw should also include fundamental policies such as amending governance AIPs for instance.
That said supportive and necessary I think.
Likes: 9
Replies: 2
Replies:
- Ancestor: You’ve got an amazing point
- capetaintrippy: Thanks for the feedback @yatsiu. very valid points. I am revisiting the number.
