In guidelines of the “maximum politeness policy”, I will post my factual data (sourced) once again - in a maximally polite and fact-checked way.
Knowing the Solidly ecosystem in-and-out (and having deployed our Beta on Arbitrum in November 2022) I will provide the following inputs and possible tangents of concern:
- The emission output is smaller than the ARB incentive requested, with the ARB incentives going to voters, the bribes are inefficiently wasted and ultimately less efficient than directly bribing LPs
- If Ramses chooses to incentivize their voters despite this, they should mark the significant share of team and partner protocol NFTs as ineligible to receive ARB grants (this is stipulated here STIP - Round 1: Application Period Update)
Grantees must not farm their own incentive programs.
- 4 days before posting this STIP, there was a large amount of possible wash trading ($20m) occurring on Ramses’ USDC/USDT pool (0x562d29b54d2c57f8620c920415c4dceadd6de2d2), which the Ramses team and partners/associates marketed heavily on Twitter (source: Northpool tweet, source: TokenBrice tweet). The volume patterns look very uniform and not organic at all. They do look like usual wash-trading patterns, which if it is the case, should be discounted from the qualifying metrics. At the very least this incident should be looked at more closely by the voting panel to see if this was done on purpose.
- The team calls itself “native” in the proposal, there this new (annoying) “trend” among Solidly forks, where they fork onto another chain in order to be able to call themselves “native” (Velodrome → Aerodrome is an example). Ramses has recently launched Cleopatra on Mantle. The Cleopatra DEX is a 1:1 copy of Ramses and officially a BUSL-1.1 License recipient of Ramses. Deploying a new fork on all upcoming L2’s and then calling oneself “native” on each one could be construed as deceptive in conjunction with a grant proposal. Link to Cleopatra
The team has - in my opinion - shown questionable ethics in the past:
- They backdated their team vests to before the launch date on Feb 8th 2023. Source backdate of vest: Start time is February 1st 2023, a date where Ramses didn’t even exist yet. Vests are usually unlocked in the future, not the past. Source for dumps on launch day of backdated vests: One example of UniV3 limit sell order
- Creating shitcoins on Base, extracting value and putting it back into Ramses (source: DOG from Ramses deploying $OGRE, deployer is Ramses Deployer 2 on arbiscan)
If this information gets deleted again, you’re actively withholding material and significant information from governance and acting in bad faith against Arbitrum’s investors.