Profile of nuuneoi in Optimism
Posts by nuuneoi
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[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 21, 2023, 2:01 p.m.
Content: To be honest, wash trading is a crucial aspect of ecosystem growth, and it’s a phase that every market must undergo before achieving real adoption. It would be highly appreciated if everyone could look at the bigger picture of how such traffic could benefit the ecosystem in the long run. If the committee doesn’t see any value in this, we’d be more than willing to withdraw our proposal. Please note that all the traffic displayed on our Zonic platform occurs only on Zonic from real users that generate actual revenue, unlike other platforms that include volume from other sources, which can be quite misleading in my humble opinion.
Likes: 2
Replies: 2
Replies:
- ryuzaki01: The fact that your marketplace weakness by not Indexing the blockchain data sales and showing the total volume for each collection did gain is not a feature, even opensea Includes total volumes generated from all other marketplace, and it’s not missleading, I guess everyone do wanted to know the total volumes generated, and you can also shows on the sales on which marketplace the transaction is, it’s not missleading, it is informative, and in my opinion people do want to know what they about to buy, so information is good, like how much the collection wash trade scored is also good, so people will avoid that fake hype and buying a real value.
- FractalVisions: nuuneoi:
It would be highly appreciated if everyone could look at the bigger picture of how such traffic could benefit the ecosystem in the long run.
Please provide examples on how this will benefit the ecosystem in the long term with metric data or research documentation that has proven your theory correct.
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[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 21, 2023, 9:01 a.m.
Content: To be honest, wash trading is a crucial aspect of ecosystem growth, and it’s a phase that every market must undergo before achieving real adoption. It would be highly appreciated if everyone could look at the bigger picture of how such traffic could benefit the ecosystem in the long run. If the committee doesn’t see any value in this, we’d be more than willing to withdraw our proposal.
Please note that all the traffic displayed on our Zonic platform occurs only on Zonic from real users that generate actual revenue, unlike other platforms that include volume from other sources, which can be quite misleading in my humble opinion.
Likes: 2
Replies: 2
Replies:
- ryuzaki01: The fact that your marketplace weakness by not Indexing the blockchain data sales and showing the total volume for each collection did gain is not a feature, even opensea Includes total volumes generated from all other marketplace, and it’s not missleading, I guess everyone do wanted to know the total volumes generated, and you can also shows on the sales on which marketplace the transaction is, it’s not missleading, it is informative, and in my opinion people do want to know what they about to buy, so information is good, like how much the collection wash trade scored is also good, so people will avoid that fake hype and buying a real value.
- FractalVisions: nuuneoi:
It would be highly appreciated if everyone could look at the bigger picture of how such traffic could benefit the ecosystem in the long run.
Please provide examples on how this will benefit the ecosystem in the long term with metric data or research documentation that has proven your theory correct.
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[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 20, 2023, 10:34 a.m.
Content: We are far far far far away from being sustainable though.
Likes: 2
Replies: 0
No replies yet.
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[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 20, 2023, 5:34 a.m.
Content: We are far far far far away from being sustainable though.
Likes: 2
Replies: 0
No replies yet.
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[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 18, 2023, 4:20 p.m.
Content: To align with our vision, our goal since Apetimism has been to find a sustainable business model that will enable the project to thrive in the long term. To achieve this goal, we have created the Apetimism Launchpad and Zonic to drive real business. The marketplace fee is necessary for the survival of this business. Running an NFT marketplace is not only challenging, but it also requires a significant amount of money to maintain the service. We do not expect to make a large profit, as it is already difficult to survive as an NFT marketplace business, especially one that is specifically created for Layer- 2 due to its low volume. Regarding Public Goods, we believe that in order to give back to the community, the project needs to first be profitable and sustainable. We are working hard to achieve this goal, even though it is very challenging. Regarding the royalty fee, we implemented this feature even before the trade feature and asked creators to provide this information as soon as possible through the Vote Quests we conducted last month. We care about creators and will always do so, as we are creators ourselves.
Likes: 5
Replies: 0
No replies yet.
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[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 18, 2023, 3:49 p.m.
Content: The chicken and egg problem with NFTs on the Optimism scene persists. The total trading volume on the entire Optimism network is super low, mainly due to the small number of collections available. In fact, it seems that 90 % of the collection owners have already rugpulled their projects, leaving only a few remaining. Most of the users who were previously on L 2 have moved back to L 1 because of this. Given the current scarcity of NFT collections and trading volume on Optimism, it is highly unlikely that a new marketplace will attract users unless they are incentivized to do so. This is why a trading competition program has been launched to boost activity. Although wash trading is not what we desire, it is not surprising to us. It is a part of the Activation Energy as explained in the proposal. In reality, every marketplace must surpass this point, including Opensea or Blur, for true adoption to occur. That is my two cents. One thing that we can assure you is that less than 0 . 1 ETH of the trading volume on Zonic to date is from us. The rest comes from real users, including wash traders who still pay real fees and generate actual trading activity on the platform. The statistics provided are genuine, and they demonstrate the actual outcome of the work we’ve put into our Quests product. These results will contribute to increasing real user activity towards actual adoption, as mentioned in the proposal above. I understand your concerns, but that is precisely why we are making this proposal - to increase NFT activity on Optimism. Without these efforts, few people would move to Optimism, as the ecosystem is not yet fully developed. In fact, some may even move away from it.
Likes: 11
Replies: 2
Likers:
hiruma,
fractalvisions,
caleb1,
dicaso,
wijit.b,
elixer,
papachoi,
fiatfalls,
citra,
krainat24,
acer
Replies:
- FractalVisions: To be honest I would much rather see incentives for those who wash trade on collections that are set to a royalty fees from the creators that directly contributed to the RPGF fund. Incentives based on artificial volume is what led Quix marketplace to unsustainable levels of overvalued collections from speculators.
Similar to the way that artificial volume is created on layer one to create hype and attract more users. This gambling model becomes unsustainable after the initial push of volume and most users become exit liquidity in what can no longer sustain such a high value.
The fees of Zonic do not benefit anyone but the marketplace at the time of a sale and the artist is not receiving any sort of benefit from having their artwork on your platform if the royalties are all automatically set to zero.
This feels like a double negative standard as opposed to the other way around where it would be beneficial for all parties or considered for public goods.
- FractalVisions: I don’t believe wash trading incentives should be looked at as something that is beneficial to the ecosystem through a rewards program. Organic growth experiments are not intended to have any sort of manufactured or artificial volume to increase statistics. Nor should that all of a sudden qualify a project for the thresholds of a grant application. This is what is called price manipulation.
The false narrative that is created with overvalued floor prices is a dangerous mechanism to lead less informed individuals into purchasing the project because they believe there is an opportunity to sell something they purchase off of the floor for an extremely high ROI which is not true. Also known as a bull trap.
This type of behavior should never be what creates the catalyst behind the creation of any sort of speculative event that you are mentioning when talking about an upcoming bull run. This is leading to a very slippery slope very quickly. Incentive rewards should be based on the impact an individual makes in the ecosystem without ever having to fabricate any data.
I am all in for supporting the Zonic marketplace and feel that it is more than necessary to have multiple NFT marketplaces on Optimism network. Hopefully some of the details here can be sorted out and there can be further clarification on some of the things I noticed in the proposal right away such as the ask amount.
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[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 18, 2023, 3:21 p.m.
Content: Thanks for your valuable feedback! To be frank, I share your sentiment entirely. I don’t want this project to rely on one person alone, and I’m eager to expand our team. Unfortunately, we’re not backed by any VC, so we lack the funds to hire another team member at the moment. We had initially planned to set aside some funding for team growth. However, a new rule has been introduced that prevents us from doing so. Nonetheless, the proposal above could benefit our business and potentially generate some profit along with the growth of the overall ecosystem, which could allow us to add 3 - 4 new team members in the coming months. While the profit may not be substantial, it should be enough to achieve our goal of expanding the team. Considering the amount of OP to be distributed over a 6 -month period, it may seem like a large number. However, we welcome any comments, feedback, or suggestions on this matter. We are open to adjusting either the reward amount or the timeframe, as our primary goal is to use this opportunity to enhance the entire NFT ecosystem on Optimism. If we receive any OP, it will all be used to reward our users, and none of it will be kept for personal gain. Everyone’s input here is valuable to us. We would love to hear your comments!
Likes: 9
Replies: 1
Replies:
- FractalVisions: What sort of system will be set in place to make sure that the token rewards distribution is not gamified in a way that favors sybil attacks ?
How have you tested this system to ensure that tokens are distributed in a fair way?
It’s very important to have some sort of proof of work task along with a form of human identification to keep this system from being manipulated.
-
[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 18, 2023, 11:20 a.m.
Content: To align with our vision, our goal since Apetimism has been to find a sustainable business model that will enable the project to thrive in the long term. To achieve this goal, we have created the Apetimism Launchpad and Zonic to drive real business.
The marketplace fee is necessary for the survival of this business. Running an NFT marketplace is not only challenging, but it also requires a significant amount of money to maintain the service. We do not expect to make a large profit, as it is already difficult to survive as an NFT marketplace business, especially one that is specifically created for Layer- 2 due to its low volume.
Regarding Public Goods, we believe that in order to give back to the community, the project needs to first be profitable and sustainable. We are working hard to achieve this goal, even though it is very challenging.
Regarding the royalty fee, we implemented this feature even before the trade feature and asked creators to provide this information as soon as possible through the Vote Quests we conducted last month. We care about creators and will always do so, as we are creators ourselves.
Likes: 5
Replies: 0
No replies yet.
-
[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 18, 2023, 10:49 a.m.
Content: The chicken and egg problem with NFTs on the Optimism scene persists. The total trading volume on the entire Optimism network is super low, mainly due to the small number of collections available. In fact, it seems that 90 % of the collection owners have already rugpulled their projects, leaving only a few remaining. Most of the users who were previously on L 2 have moved back to L 1 because of this.
Given the current scarcity of NFT collections and trading volume on Optimism, it is highly unlikely that a new marketplace will attract users unless they are incentivized to do so. This is why a trading competition program has been launched to boost activity.
Although wash trading is not what we desire, it is not surprising to us. It is a part of the Activation Energy as explained in the proposal. In reality, every marketplace must surpass this point, including Opensea or Blur, for true adoption to occur. That is my two cents.
One thing that we can assure you is that less than 0 . 1 ETH of the trading volume on Zonic to date is from us. The rest comes from real users, including wash traders who still pay real fees and generate actual trading activity on the platform.
The statistics provided are genuine, and they demonstrate the actual outcome of the work we’ve put into our Quests product. These results will contribute to increasing real user activity towards actual adoption, as mentioned in the proposal above.
I understand your concerns, but that is precisely why we are making this proposal - to increase NFT activity on Optimism. Without these efforts, few people would move to Optimism, as the ecosystem is not yet fully developed. In fact, some may even move away from it.
Likes: 11
Replies: 2
Likers:
Hiruma,
FractalVisions,
Caleb1,
Dicaso,
wijit.b,
elixer,
PapaChoi,
fiatfalls,
citra,
Krainat24,
acer
Replies:
- FractalVisions: To be honest I would much rather see incentives for those who wash trade on collections that are set to a royalty fees from the creators that directly contributed to the RPGF fund. Incentives based on artificial volume is what led Quix marketplace to unsustainable levels of overvalued collections from speculators.
Similar to the way that artificial volume is created on layer one to create hype and attract more users. This gambling model becomes unsustainable after the initial push of volume and most users become exit liquidity in what can no longer sustain such a high value.
The fees of Zonic do not benefit anyone but the marketplace at the time of a sale and the artist is not receiving any sort of benefit from having their artwork on your platform if the royalties are all automatically set to zero.
This feels like a double negative standard as opposed to the other way around where it would be beneficial for all parties or considered for public goods.
- FractalVisions: I don’t believe wash trading incentives should be looked at as something that is beneficial to the ecosystem through a rewards program. Organic growth experiments are not intended to have any sort of manufactured or artificial volume to increase statistics. Nor should that all of a sudden qualify a project for the thresholds of a grant application. This is what is called price manipulation.
The false narrative that is created with overvalued floor prices is a dangerous mechanism to lead less informed individuals into purchasing the project because they believe there is an opportunity to sell something they purchase off of the floor for an extremely high ROI which is not true. Also known as a bull trap.
This type of behavior should never be what creates the catalyst behind the creation of any sort of speculative event that you are mentioning when talking about an upcoming bull run. This is leading to a very slippery slope very quickly. Incentive rewards should be based on the impact an individual makes in the ecosystem without ever having to fabricate any data.
I am all in for supporting the Zonic marketplace and feel that it is more than necessary to have multiple NFT marketplaces on Optimism network. Hopefully some of the details here can be sorted out and there can be further clarification on some of the things I noticed in the proposal right away such as the ask amount.
-
[DRAFT] [GF: PHASE 1 Proposal] Zonic
by nuuneoi - No Role
Posted on: Feb. 18, 2023, 10:21 a.m.
Content: Thanks for your valuable feedback!
To be frank, I share your sentiment entirely. I don’t want this project to rely on one person alone, and I’m eager to expand our team. Unfortunately, we’re not backed by any VC, so we lack the funds to hire another team member at the moment.
We had initially planned to set aside some funding for team growth. However, a new rule has been introduced that prevents us from doing so. Nonetheless, the proposal above could benefit our business and potentially generate some profit along with the growth of the overall ecosystem, which could allow us to add 3 - 4 new team members in the coming months. While the profit may not be substantial, it should be enough to achieve our goal of expanding the team.
Considering the amount of OP to be distributed over a 6 -month period, it may seem like a large number. However, we welcome any comments, feedback, or suggestions on this matter. We are open to adjusting either the reward amount or the timeframe, as our primary goal is to use this opportunity to enhance the entire NFT ecosystem on Optimism. If we receive any OP, it will all be used to reward our users, and none of it will be kept for personal gain. Everyone’s input here is valuable to us. We would love to hear your comments!
Likes: 9
Replies: 1
Replies:
- FractalVisions: What sort of system will be set in place to make sure that the token rewards distribution is not gamified in a way that favors sybil attacks ?
How have you tested this system to ensure that tokens are distributed in a fair way?
It’s very important to have some sort of proof of work task along with a form of human identification to keep this system from being manipulated.
