Ways to reverse the death spiral of Dash.
- Thread starter vazaki3
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vazaki3
Well-known member
Here is my solution, for dash to escape the death spiral.
Please vote for it, or suggest your own solution and I will put it as a poll option.
Please vote for it, or suggest your own solution and I will put it as a poll option.
Marketcap ranking is one of my questions for the next quarterly call.
vazaki3
Well-known member
The purpose of this thread and especially of this vote is not to ask questions.
It is to find possible solutions that will save Dash from the death spiral, and vote for them in order for the most popular to appear.
Unless of course you do have an answer, and your answer is to fire the Dash Core Group (as a whole or part of it) and hire other persons.
If this is the case, shall I add your suggestion as a poll option?
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Death spiral is a bit dramatic, not all altcoins from 2017 made new highs in the bull run of 2021. It will be hard to pinpoint the relatively poor price performance on a single thing, but from Ethereum we can see how the importance of creating an intrinsic demand for your shit token is, eg in staking, LP, gas for smart contracts etc. IMO this is what largely fuelled its rise. While from the low sat coins, we can see how important the unit bias is 'cheap coins' in attracting value 'miser' investors.
DASH is not a cheap coin, nor does the DASH have as many uses, staking it in mnodes is certainly one use and probably largely the reason the value is still so high. DASH has a a set of issues of its own making too, the early fast distribution of coins and subsequent lowering of the final emission, means DASH has a large number of coin holders that are sitting in massive profits. It sure is tempting to take those profits in a bullish market and that is certainly what we saw in the recent bull run.
Source: https://mnowatch.org/dash-stats/
In the 2021 bull run DASH was no longer alone in the class of staking with several other staking coins and DeFi protocols offering higher rewards, albeit at far greater risk. Fortunately the recent crash has crushed those yields and if we enter a deeper bear market they are likely to drop off further, however, thanks to the reallocation hardfork and the node selling during the bull market, the yield on DASH has actually increased!
Source: https://stats.masternode.me/
Solutions
As already mentioned, DASH passed the reallocation hardfork which has started to improve the tokenomics by paying more to the masternodes (coin holders) and less to the miners (coin sellers). There is also a proposal in at the moment to reduce the proposal fee and reduce waste in the DAO and allow new entrents to approach the DAO and work for it. Also, DASH Platform (Evolution) is slated to be released at the end of the year, apart from dramatically improving the user experience around crypto payments, it also creates a new demand for DASH to pay for data contracts, similar to, but simper than Ethereum smart contracts.
Future
There is still more work to do. DASH can tackle the lousy unit bias, we can also look at reduce the collateral requirements for owning an mnode, currently 1000 DASH, 250 could be possible which would put ownership into reach of many more people and increase demand on the coin as these people scoop up a quarter century of DASH. We could also revisit funding the DAO entirely from the mnode earnings, rather than minting fresh coins to improve voter engagement and decisions made in the DAO. We could look at time locking MN collaterals and paying a bonus to those that opt-in, this would act as a circuit breaker to selling during fast markets and give newer enternts confidence they won't get dumped on since the coins are locked up. There are probably a bunch more ideas. Post them below.
DASH is not a cheap coin, nor does the DASH have as many uses, staking it in mnodes is certainly one use and probably largely the reason the value is still so high. DASH has a a set of issues of its own making too, the early fast distribution of coins and subsequent lowering of the final emission, means DASH has a large number of coin holders that are sitting in massive profits. It sure is tempting to take those profits in a bullish market and that is certainly what we saw in the recent bull run.
Source: https://mnowatch.org/dash-stats/
In the 2021 bull run DASH was no longer alone in the class of staking with several other staking coins and DeFi protocols offering higher rewards, albeit at far greater risk. Fortunately the recent crash has crushed those yields and if we enter a deeper bear market they are likely to drop off further, however, thanks to the reallocation hardfork and the node selling during the bull market, the yield on DASH has actually increased!
Source: https://stats.masternode.me/
Solutions
As already mentioned, DASH passed the reallocation hardfork which has started to improve the tokenomics by paying more to the masternodes (coin holders) and less to the miners (coin sellers). There is also a proposal in at the moment to reduce the proposal fee and reduce waste in the DAO and allow new entrents to approach the DAO and work for it. Also, DASH Platform (Evolution) is slated to be released at the end of the year, apart from dramatically improving the user experience around crypto payments, it also creates a new demand for DASH to pay for data contracts, similar to, but simper than Ethereum smart contracts.
Future
There is still more work to do. DASH can tackle the lousy unit bias, we can also look at reduce the collateral requirements for owning an mnode, currently 1000 DASH, 250 could be possible which would put ownership into reach of many more people and increase demand on the coin as these people scoop up a quarter century of DASH. We could also revisit funding the DAO entirely from the mnode earnings, rather than minting fresh coins to improve voter engagement and decisions made in the DAO. We could look at time locking MN collaterals and paying a bonus to those that opt-in, this would act as a circuit breaker to selling during fast markets and give newer enternts confidence they won't get dumped on since the coins are locked up. There are probably a bunch more ideas. Post them below.
People should recognize that Dash masternodes are the real unit of account. As such, when Dash Platform launches, we should create a Dash Masternode token that can be freely traded as a single unit i.e. 1 DMN = 1000 dash. The DMN token is how we register a masternode. We then add this token to all the major market cap listings and watch as it instantly goes to #1. That should grab people's attention.
vazaki3
Well-known member
Can you split your solutions to small proposals that can fit as poll options?
Or , do you think that your proposition stands as a whole, and if one part is not accomplished, nothing can happen.
In that case I will cancel the current vote, and propose another one in https://poll.ly/#/P7REmkZK , where longer poll options are allowed.
vazaki3
Well-known member
Could you also say this by using 99 characters?
If not , then canceling the current vote and continuing at https://poll.ly/#/P7REmkZK is the only way to go.
This thread has become counter-productive. Locking it. Was a FUD thread to begin with.
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