Fair point, broheim. Come find us on the real forums, the boards/discords/TGs of the actual protocols being used on Arbitrum… I use the same handle there.
OR… you could just admit we, as longtime ARB supporters, just needed some unifying purpose driving the impulse to post on these forums, and this grant proposal is the first real thing to generate said interest.
Notice I am including you and giving you the benefit of the doubt.
I think in many ways your actual point validates the use case of this grant. Clearly, it got you off your ass to post.
I said in my comment that I created an account just to share my thoughts. This is a good example of the kind of person I was talking about who let their petty grudges blind them to everything else and value personal concerns above all. Literally only thinking in zero-sum terms about potential price action as a secondary effect on a token that isn’t even mentioned in the proposal, no engagement with the actual terms, no suggestions for improvements, just bile and bitterness all the way down. Shame to see. Pretty clear from their previous comment that they had unsuccessful investments in a different project and are upset about that as well.
I searched the arbitrum discord and did not see any posts from someone with your username. You say you are a longtime arb supporter… but aren’t in the arbitrum discord? strange.
You’re a grail bagholder who wants to pump your bags. That’s fine. I’m just pointing it out for everyone to see.
I also want to make it abundantly clear that the positive responses from this thread are all from the GRAIL community (with zero disclosures whatsoever)
a lot of the negative comments are from recently created accounts too? not sure your point. mfer, cryptocomical, jeffrey, dontfundponzis, frensy, etc. this just shows the proposal got people to come out
This hyperfocus on Grail price, the age of the accounts posting (?) and not actually discussing the benefits and drawbacks of the proposal or engaging with the arguments being presented is a pretty strong signal that you aren’t at home in an adult conversation. Thankfully several others here are providing strong critical feedback so that the final vote will be on the best proposal possible, that’s the whole point of forums like this. Even if you don’t like it, everyone gets a chance to share their informed opinions so that all feedback can be taken into account when the final decision is made.
I’m not asking for over 12 million dollars. You signed up here to pump your bags. I signed up to prevent the DAO from getting grifted. In case anyone is curious, the Camelot discord posted this proposal in announcements and encouraged their community to post here, so that explains the shills.
In fact, here is a Camelot Core member suggesting to their users to make an anon account to shill here
I would be fine with it all if all of you disclosed why you are here, instead of making it looks like organic community support from the general arbitrum ecosystem.
Grants should be made for groups looking to build and improve Arbitrum or to incentivise groups from other chains or tech to move to Arbitrum. Camelot, by their own admission, is already highly successful on Arbitrum. If Camelot were to incentivise this ARB allocation with an xGRAIL contribution in return, I think this pill would be much easier to swallow.
For instance, 5000 xGRAIL in return for the 12MM ARB would make it more of a treasury swap, and Camelot would be using those xGRAIL to incentivise anyway. This would price GRAIL around $3000, near its highest excluding the short peak to $4000, making it +ev to Camelot based on current prices.
The Arb DAO would receive a new income source, that being the dividend function of xGRAIL. Based on the present dividend epoch, that would mean about $1 million per year to the dao ($62400/16612xgrail * 5000daoxgrail * 52). It is true that this will dilute xgrail dividend depositors (myself among them), if Camelot truly believes this arb incentives measure would increase tvl and volume and usage of arbitrum, the increased fees they would receive as a result should more than offset this.
You talk like the liquidity they are gonna use to pay that bill belongs to the DAO. You are mixing concepts. One thing are tokens and other thing is liquidity. The tokens belong to Arbitrum but the value they get is given by the liquidity shared by all the holders. If the DAO had for instance a bag of USDC in their treasury and they use that instead, then is a very different scenario, much similar of what you have in mind. Besides, when I say robbery is not because of the magnitude. Even if one single penny of my liquidity is used to pay one single project that I think doesn’t deserve it, against my will, I consider it a steal.
biggest detail that needs to be fleshed out for me is how to distribute these incentives in an effective and fair way across pools and new projects onboarding to Arbitrum. milestone based reporting as mentioned in the proposal is a good start
You’re quite amusing ser woo woo detective, you also only just joined. Up until now, I haven’t felt inclined to participate in the forum. I hold Grail and Arb tokens and I genuinely believe that it’s a win-win situation for the entire ecosystem. That’s why I joined the discussion. Not everyone has the time to comment on every proposal that doesn’t directly involve their investments
Your argument about the grant consisting of the entire Grail market cap is solid. There is one thing you’re missing is that the funds won’t simply fall into their hands. The grant will be used to drive the ecosystem and attract more users to the chain over the space of many months. This is much needed after the decline in interest since the airdrop. But of course, you may have a different perspective and that’s fine. We’re here to debate
I am in favor of this proposal, although I personally think it would be cool to see @Ice idea of an xARB derivative implemented. Tokens forfeited through the unlock process could be used to continue incentivization. I think it would be really interesting to build out a derivative framework for a grant of this size.
I would recommend those trying to articulate points against this proposal to not stoop to personal attacks. There is no reason to attempt to silence GRAIL holders support. If this trend continues of trying to brush off opinions on ecosystem grants based on if someone has been an advocate of the project in the past, this forum will be very toxic. Many of us are in GRAIL because we were providing liquidity in GMX, JONES, UMAMI, SPA, etc. I don’t believe it should be viewed as a negative.
They have to utilize those tokens somehow. I mean, the foundation needs to provide incentives to DEXES at some point to facilitate the growth of the entire ecosystem if we want to see more users joining the chain.
Camelot is the one: why? they have proven that they can genuinely support the ecosystem in a short span of time.IMO this is a fair way of doing it.
With this attitude, you’ll want those arb tokens to sit in the treasury for eternity, while more folks will leave the chain and sell their bags, ultimately hurting your own bag.
We need a catalyst to bring the spark to the chain and this grant could be it!
