@hoskytoken There's definitely a pattern with Cardano high profile projects disappearing despite fair offers made in revival attempts. I do wonder and hope it's not the case, of possible strategic external influence.
๐จ๐ช๐บ EU surveillance is reaching INSANE levels
Brussels wants to scan your private messages, photos and files... even in encrypted apps.
โChat Control 2โ is mass surveillance dressed up as โsafety.โ
Thatโs not democracy. Thatโs DIGITAL TOTALITARIANISM.
๐ Trademark Registered in EU
Now officially protected in the European Union. ๐ช๐บ
A step further in turning decentralized tech into real-world business.
Note some parallels between how Liqwid decided to vote in their favor and how EMURGO + Yoroi are trying to gain power in on-chain governance.
LQ was minted by the same people who founded the DAO. Liqwid is very likely the majority holder of the LQ tokens that the DAO uses for voting.
It makes no sense for ADA holders who use Liqwid and are probably also LQ holders to vote against their own interests.
Liqwid can always influence the vote in their favor if they want, regardless of how others vote. They are very likely in a dominant position.
EMURGO + Yoroi are trying to achieve the same thing.
They want to gain dominance in governance, or at least a very strong position. They got the Genesis coin, about 2B ADA. How much do they still have and use in governance?
Other projects will have to negotiate with EMURGO and ask for their support if they want to push their proposal through. This may come sooner than you think.
Fortunately, ADA is more distributed, so EMURGO + Yoroi cannot gain absolute dominance.
Still, Cardano needs to avoid a situation where 100 DReps with small stakes vote NO while EMURGO + Yoroi and a few other DReps vote YES, which would give them victory.
In the Intersect budget process, we can experience that, because only the "participant stake" will be used for the calculation of the voting result.
Such an "unfair" vote (fair from the stake perspective) could have a similar impact for Cardano as the NIGHT vote in Liqwid DAO.
A complete loss of trust in governance.
The Founding Entity is the most powerful actor in Cardano governance. That is a fact. Trust is slowly starting to crumble.
@ratio_hunter_10@festering_rat@AltcoinDaily How can you even mention real uses when your network goes down every now and then. How can you even talk about metrics or whatever you have in mind when your own founder is saying that most transactions are botted. Please educate yourself and remember that prices are manipulated.