Money is not real.
The Federal Reserve is not federal.
Money printing funds the government, not your taxes.
You are taxed on money that has already been taxed.
You are operating inside their system.
But… Merry Christmas.
Yes, I am super excited about Midgard getting delivered and becoming successful!
Although I’m no longer associated with Midgard and Anastasia Labs I want to see it succeed and deliver on everything mentioned in the past:
• Fully permissionless, decentralized, trustless optimistic rollup
• Full L1 security inherited via fraud proofs
• Isomorphic to Cardano enabling seamless dApp migration
• Instant off‑chain transaction confirmations
• Smooth UX for all users to use Midgard straight out of their existing wallet without changing networks
• Massive Scalability Gains: Dramatically increased throughput, Higher TPS, Lower Latency & Super Low Fees
Also it seems like a team of Tier 1 superstar devs joined the team to get this done: George, Pi, Lucas, Riley, and Matteo and Raul from the amazing Fluid Tokens team who have been working on it from the start
And on top of that Philip announced they have “hired two new critical impact developers, both of which have experience as core engineers working on successful L2 protocols in Ethereum and BNB”
I’ll happily follow the progress and I’ll be cheering on the sidelines 🦾
📣IMPORTANT DAO DECISION📣
While the DAO budgeted our proposal at $.50 ADA, we have made a collective decision that all treasury withdrawals to fund builders will be pegged to the price of ADA at the time of the withdrawal minus 20% to protect from downside.
Why did we make this decision? Not because it is best for individual self interest, but because it is best for Cardano, the projects that will join the DAO in the future, and our mission to build a sustainable funding mechanism for years to come.
Additionally, all unused funds will be returned to the Cardano Treasury at the end of the budget period.
Check out the clip below to see a quick example of the conversations that happen in our weekly meetings. They are legit!
I didn't need a million+ ADA in Catalyst for “liquidity bootstrapping” to build a product no one asked for.
But if i did? I’d make sure to charge Cardano users to mint a profile before they can even access the dApp they funded.
1.4 Million ADA later. ~1% of all Catalyst funds.
@ada_stat@armyofspies Because you guys did not pay a promo on their YouTube channel.
You need to pay to them to be voted. Its how it works for many influencer/dreps
@phil_uplc@phillip_pon And so, dear Phil, why did you take part in Intersect’s Budget process?
If joining any other proposal is a disadvantage for you, why didn’t you go on your own, like Pragma did?
Could it be that you were speculating, and that your positions as a DRep are mercenary?