Can we just repeg the value of 1 $ATOM to $40?
I do not understand why we can not just do this? I think many of the DEX operators are here, we can coordinate an upgrade to re-peg the price of $ATOM.
Has someone thought of this before?
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That’s a very good point. We should be demanding that this occur.
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Oh hello Mr Jacob, is this code something you can push up?
Maybe we should set it to $39.99 so new whales think they are getting a discount and buy more, then we can push it to $50+ and hit new highs.
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So it’s very possible to create that code, or to put statements in the code that claim a price. However the unfortunate reality is that markets are going to be markets.
If we were to attempt to do this, well the centralized exchanges might have real prices, and then we might see a wild divergence. Also, this suggestion could cause problems similar to those that Luna suffered.
Also if we’re going to do this, let’s totally start with $42.069 and work from there. That’s the peg we need.
By the way, there is an actual cosmic example of fixing prices in code, Sif did that. Here’s my writeup on it:
So, no, I don’t think that’s a good idea, but damn I enjoyed your shitpost mr. Atomchad.
update: most of cosmos Twitter is enjoying it too
Congratulations you may have written the most popular proposal of all time!
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Can we block the centralized exchanges?
Always bad news with those guys.
FTX man have drug problems and gamble and sex it all away.
Many other people fake their death and steal Bitcoins. I know they are not dead they are partying with my Bitcoins laughing at me.
Can we fork code from Sifchain and implement? See big brains have already done it.
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M I L A D Y
(Seriously this is the best forum post ever)
So…
Yep the cexes are bad but they use normal on chain accounts so they’re difficult to block.
Now, if we were to go down to a single validator like https://unicorn.meme You know I guess that might be progress toward this goal, because with a single validator, we could just make arbitrary State changes anytime a centralized exchange attempts to list atom.
Now the other thing is that we’re going to need to make sure that the prices are synchronized across the decentralized exchanges.
But to make a long story short provided that you’re good to go with the price that I suggested: $42.069
…then there’s really got to be a way to kick this thing off.
As for the ftx man and his meth patches, yeah I do think that led to many problems.
So I also propose that the hub be gated by a system of drug tests. We can approve a lab, and then every user can just submit a blood and urine sample, and THEN the validator can approve them once we know the chain is safe from the scourge of drug addled CeX peddlers.
So I think what we can do is offload the chain into mysql and go down to one validator. This way, we can be safe.
There’s also another recent post moving in this direction:
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Okay sir since we are making great progress here and we are all part of the Cosmos Hub I will share our findings with the Osmosis forum so they can begin implementing their upgrades.
uWu
Maybe we can make a chain with no validators at all.
I know MySQL I can make instant atomic transactions. 0s block times. Has anyone thought about doing this? Why do we need many valdiators to say “yes bro i believe you” when we can just have one?
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uWu
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well I mean that really depends on how much you trust the validator. Of course Unicorn, I don’t trust the validator that chain is a closed source, single validator rug factory. It’s just that I am addicted to memeojis, and go into withdrawal if dank memeojis aren’t around.
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I think that users would likely need less validation if and when they decide weather or not they and the chain exist or not. Currently, 180 vals are needed, just as a sort of sanity check on weather or not both the chain and the users exist. The vals basically just check on that.
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Jacob, I feel in the time it took you to write some of these replies you could have had this code upgrade in place.
We could have been enjoying $42.069 for the last hour.
You said it yourself. Validators = Cancer. I don’t like and trust Cancer, so why would I trust validators?
Can validators simply be an app on chain. What makes validators so special? Oh look at me I’m a validator.
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Yes to pegging at $39.99
Hell yeh! Why redo the work when we can copy from Sif!
No one will have faster block times than Hub’s 0s blocks. There is literally no reason not to do this!!
Gold! How can we nominate @atomchad for Cosmos CEO??
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Validators choose if the chain makes blocks or not, and perform important governance roles.
In my experience validators are not very special, however, they do have many special privileges over the chain.
Validators exist to ensure that the chain works as designed.
Now, most of em cannot code and don’t contribute to Gaia, so, it is difficult for me to tell you (if I am being honest) that most vals can actually ensure that the chain is running according to spec. That would require actual familiarity with the code base, and I think that is maybe just a bit too challenging for the average validator .
Of course, if validators are running low spec machines, and aren’t able to evaluate the chain’s actual situation based on the chain’s actual code, the zero validator chain sounds vastly superior.
This is likely only accomplishable with a probabilistic consensus like Bitcoin.
But since we’re here discussing world shaking technology, did you have any other ideas? Maybe we can produce a spec.
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I made this proposal on Osmo boards but they deleted it.
Maybe the Osmo cartel is trying to hide this idea and they are busy implementing it to try and beat the Cosmos hub?
I look at Osmosis website, they say they are center of the multichain future. Has somebody told these guys they are not the hub? I don’t understand.
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As I mentioned in my document, the price manipulation code on Sif works flawlessly
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In fact, if we simply look at topology, there can be no doubt that osmosis is the Hub of Cosmos. Osmosis has more IBC clients than any other chain, and is therefore the center of the cosmos ecosystem .
It’s really too bad that they have gone and deleted your post though, I think that we could really make progress with this concept. You know maybe we could do we could use all the Bitcoin on osmosis to pump $atom. I suppose that the right path would be for you Make a governance proposal suggesting this. If the forum is not available to you, I believe that you could always put the proposal directly on the chain.
addendum
I would also like to suggest that in your proposal, you attempt to get the osmosis stakeholders to admit that the hub is the hub.
So, two key components:
- use all btc on Osmosis to pump atom
- Osmosis should submit to the will of Gaia by declaring itself not to be a hub
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sad to see that this topic generates more responses than real topics created in the last week
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Because it is a good idea. People want number go up. My proposal guarantees number go up.
More of this.
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Look since putting up proposal it is bullish $ATOM. Price is up 0.05% when everything else is down.
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all fake a capitulation, tell the general public that you are all leaving the hub, that it is crap and then we should see the price go back up.
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Man’s got a point!
Now, ok so we will raid Osmosis for BTC to pump $atom – what other dexes have governance, and assets we could use to pump atom?
I gotta say, the Sif strategy is looking like a very simple winner.
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Following up on this. What is the status and timeline for this integration?
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