Beaned

things aren’t built overnight

[Beaned @codey43829614]

I just won Elements NFT in an @assetdash Super Drop 🎉

Join me on AssetDash and enter my code YOV3-7IN2 at sign up to instantly get Coins to join! https://t.co/CkfhV3oTKE

[SKELETON CREW 💀 @skeletoncrewrip]

It's here! Skeleton Crew's January Art Event.
⏰ Jan 30, 3pm ET @ 50,000 $SKULL per mint.

Open to all in the Skeleton Crew community 💀💚

😈 Here's the catch: They're dropping as part of a single collection – and you won't know what you're gonna get!

Read on... 🧵

[Beaned @codey43829614]

I just preordered #Chapter2 from @solanamobile! If you missed out on Solana Saga, don't miss out on what's next, and the chance to refer others and climb the leaderboard. https://t.co/hJN8iypNca https://t.co/hJN8iypNca

[GenesysGo @GenesysGo]

Testnet 2 is officially on its way! Here's everything you need to know in order to start getting ready!

· D.A.G.G.E.R. Testnet 2 Start Date:
January 16th, 2024 @ 6pm UTC

· shdwPoints Start Date:
December 28th, 2023 @ 2am UTC

· End Date: April 15th:
April 16th, 2024 @ 6pm UTC

· Rewards:
600,000 $SHDW allocated into 3 different rewards categories:
- shdwOperators, 300,000 SHDW pool
- shdwStaking, 175,000 SHDW pool
- shdwPoints, 125,000 SHDW pool

#1) shdwOperators - 300,000 $SHDW Allocated
Earn SHDW and help power D.A.G.G.E.R.’s incentivized Testnet by being a shdwOperator and running a shdwNode!

https://t.co/ZkfUp2XJx9

shdwOperators contribute storage to the shdwDrive network and are responsible for maintaining the resources needed to power and scale shdwDrive.

How many shdwOperators can earn rewards?
The max number of shdwOperators who can be earning rewards at any given point is 150. Each node in the network must belong to a SPL unique wallet (more on that later).

For new operators to join once the limit is reached, an existing operator must either drop out or for the network to reach consensus that a shdwNode is inactive and vote for its removal from the network.

shdwNodes are considered inactive after two epochs have passed. Due to D.A.G.G.E.R.’s asynchronous leaderless architecture the length of an epoch is variable, however on average they are roughly 30 minutes.

How much will I earn?
A shdwOperator is eligible to earn up to 2,000 SHDW based on the uptime of their shdwNode with the possibility of an additional SHDW award for exceptional uptime.

Running a shdwNode shouldn't cost more than $100-300/month, join our Discord for recommendations on providers:
https://t.co/GiGwUMCRK1

Testnet2 is approximately 2,207 hours long, meaning an individual shdwOperator earns ~.906 SHDW per every hour their shdwNode is running.

Any unearned SHDW remains in the smart contract where it is distributed amongst shdwOperators whose have an uptime >=2,096 hours (~95% of the total Testnet2 duration).

The amounts distributed to each operator would be calculated based on the amount of remaining SHDW in the pool and the amount of uptime hours above 2,096 each operator logged.

What does this look like in reality?
Let’s assume there are two shdwOperators named Talia and Bruce. To keep things simple, we will assume Talia and Bruce are the only two participants.

Example 1:
shdwOperator Bruce joins the network halfway through and his node accumulates ~1,103.5 hours of Testnet2 uptime. To calculate Bruce’s rewards, you would multiply .906 x 1,103.5 (total uptime hours).

Bruce would earn ~1,000 SHDW. So what happens to the other 1,000 SHDW Bruce was eligible to earn but didn’t due to arriving late? Let’s see.

Example 2:
shdwOperator Talia’s node has been connected to Testnet2 since the moment the Testnet opened and has racked up 2,200 total uptime hours.

Talia would receive 1,993.2 SHDW (.906 x 2,200 uptime hours). Talia would also awarded the 1,000 extra SHDW that was not paid to Bruce. Talia is receiving this award for having an total Testnet2 uptime percentage of 97%.

Therefore, Talia’s total reward would be 2,993.2 SHDW due to her outsized contribution to the network.

shdwOperators will be able to track their uptime status and rewards payouts via the shdwOperator leader-board which will be publicly viewable at https://t.co/N440AQaiLV when Testnet2 launches.

Do I need to stake SHDW in order to connect a node to the network?
Technically, no. Individual nodes do not need to be staked by their operators in order to join the network. Staking for network access is being approached as a community effort. Please see shdwStaking below.

That said, shdwOperators who are staking SHDW for community rewards (detailed in the section below) from their shdwNode ID wallet do receive preferential treatment should their no be removed from the network.

Example:
Selina is shdwOperator #100. Her node drops from the network and is removed from the 150 shdwNodes currently earning rewards (discussed previously above).

When Selina’s node rejoins the network, she find she is now #161. However, shdwOperator’s 151 – 160 are not staking SHDW from their shdwNode ID wallet.

Because none of the shdwOperators ahead of Selina are staking SHDW from the wallet used to generate their shdwNode ID, Selina is moved up and she now becomes shdwOperator #151 and is next in line to start earning rewards.

Does that mean there is no slashing?
For this round of testing, we are not implementing a slashing feature. Based on community feedback we believe a slashing mechanic would be an impediment to the growth of the network.

There will always be a need to have some kind of financial disincentive as a deterrent to prevent bad actors but this should not come at the expense of community good. Hence the focus on rewarding uptime in Testnet2.

We believe the denial of rewards can be an effective financial disincentive to prevent bad actors while not penalizing well-intentioned members of the community.

Is that it?
No, there are more surprises to provide additional rewards and increase the number of shdwOperators earning rewards beyond 150 planned along the way…

#2) shdwStakers - 175,000 $SHDW Allocated
shdwStaking is much simpler and much more straight forward than the shdwOperator category.

Our goal is to encourage as many people as possible to learn to create shdwNodes and become shdwOperators. However, we also recognize that, for a variety of reasons, this is not something that is possible for every member of the SHDW Community.

We also recognize that there are many members of our community who are very active in driving awareness for shdwDrive and D.A.G.G.E.R. in the Solana ecosystem. Those efforts should not go unrewarded.

Therefore, for literally the first time ever, SHDW holders will be able to stake their SHDW tokens and earn rewards via single sided staking!

This section is significantly easier since this just single sided staking as we are all familiar with (although, there is one small twist).

· An individual’s staking rewards are proportionate to the percentage of the total staked pool that individual has contributed.

· There is no cap on rewards.

· Starts when Testnet2 launches and ends when Testnet2 ends.

What’s the twist?
For every 1 shdwNode connected to the network there needs to be 10,000 cumulative SHDW staked in the shdwStaking smart contract.

For there to be 150 shdwNodes earning rewards there needs to be 1,500,000 SHDW in total staked in the shdwStaking smart contract.

Note: SHDW is not being staked directly with any specific shdwNode. 10,000 individual wallets each staking 1 SHDW equates to 1 shdwNode coming online. The ratio between total staked SHDW and the number of shdwOperators is what matters.

All staked SHDW goes to the same shdwStaking smart contract. Staked SHDW does not directly interact with the shdwNodes in the network.

For Testnet2 we are testing the foundations for the shared-staking mechanism which allows community members to help bootstrap shdwNodes by staking SHDW with those nodes. For reference, this was first discussed here: https://t.co/8DoIf8yn1S

In order to promote as much inter-connectivity between those individuals operating shdwNodes and the broader community of individuals supporting shdwDrive we have created a linkage between the amount of total SHDW staked in the shdwStaking smart contract and the number of shdwNodes which can be connected to the network at any given time earning rewards.

Is that it?
Yep, shdwStaking is quick and easy.

#3) shdwPoints - 125,000 $SHDW Allocated
Oh man… GenesysGo is jumping into the points meta… look ma! We’re #DeFi now!

To make things easier, we’ve listed the details of the game first. After the details those interested can read more about the rationale behind the game and the desired outcome.

How do points work?
· Users earn points based on their wallet activity and their SHDW holdings. Balancing frequency and size is important!

· A snapshot was taken December 28th at 2:00am UTC to capture the current state of all wallets which hold SHDW (including SHDW that has been staked inside of platforms like @marginfi and others).

· From December 28th at 2:00am UTC through the end of Testnet2 on April 16th at 6pm UTC EVERY wallet will earn or lose points based on their activity.

· Points can be redeemed for SHDW at the end of the Testnet2 period. Think of it like cashing out tickets at an arcade.

· Wallets earn 1 point for every 10 SHDW purchased. SHDW must be acquired through @JupiterExchange via either a swap, a limit order, or Jupiter’s DCA feature to be eligible for points.

· Wallets will lose 1 point for every 1 SHDW which leaves the wallet via any means during the period of Testnet2. This includes wallet to wallet transfers.

· Staking SHDW in the shdwStaking smart contract is the only exception.

· All activity across all platforms is actively tracked on-chain throughout the duration of Testnet2 to provide leader-board updates.

You mentioned size, does size matter?
Size always matters.

· At the end of Testnet2 period a points bonus is awarded to every wallet based on their average transaction size. The amount of bonus points awarded scales exponentially as average transaction size increases.

Okay… but like… why points…?
Part of what makes SHDW unique and of true value is the maturity of its Tokenomics. SHDW has one of the lowest total supply numbers of any token on Solana at 169m and is nearly fully diluted with a circulating supply of ~158m as of the time of this writing. There are no upcoming cliffs due to the unlocking of insider tokens sold in private OTC transactions at prices not available to the broad community.

All SHDW tokens that are or will ever be held in every wallet on Solana were acquired in one of three ways:

1. Received as emissions for minting or purchasing a Shadowy Super Coder NFT.

2. Purchased as a part of the SHDW IDO.

3. Purchased in the open secondary markets at whatever the prevailing market price was at the time.

This in no way guarantees that every holder of SHDW was or will be profitable. What is guaranteed though is that no one has profited from SHDW by acquiring it in a manner that was not open to literally every other person on Solana at that exact same moment in time.

Additionally, referring back to https://t.co/8DoIf8yn1S, all effort and focus has been centered around ensuring SHDW is tied to the overall growth and health of the shdwDrive platform. Holders of SHDW are being positioned to finally earn their piece of the multi-billion dollar pie that is the cloud data storage market.

That said, we also understand that this kind of build takes a while and that it can be difficult to keep the focus on the bigger picture in an environment where we often see five or six memecoins launching each day and then being wash traded to try to entice buyers into chasing 1,000% gainers every day.

As such, we wanted to create a fun way to not only engage existing members of the community as well as provide new pathways for potential new holders. This incentive will hopefully help new holders take their time as they onboard themselves and learn more about SHDW’s true potential.

When can I see my points and how can points be redeemed?
A shdwPoints leader-board will be published in the next week to provide live standings. Points can be redeemed at the end of Testnet2 on April 16th, 2024.

Can I earn rewards from all three pools?
Yes!

In fact, we encourage it! Maximizing your rewards from the three pools would look something like this:

· Create a shdwNode and use a wallet currently holding SHDW to create your Node ID. Then connect to the network to earn rewards from the shdwOperator allocation.

· Stake the SHDW in the shdwNode ID wallet in the shdwStaking contract to earn staking rewards.

· Rotate profits from the most recent memecoin into new SHDW to lock in shdwPoints.

· Finally, stake the newly acquired SHDW and the SHDW earned from being a shdwOperator in the shdwStaking contract to continue increasing your shdwStaking yield.

#Solana #web3 #DePin

[GenesysGo @GenesysGo]

TL;DR:
- Mega-thread below is being staged and deployed as blog article tomorrow

- Earn $SHDW for being a shdwOperator

- Stake SHDW for the first time ever

-Play the shdwPoints game to win points just for accumulating and holding SHDW, points are redeemed for more SHDW

[mert @mert]

"Solana is centralized because hardware requirements"

Reality: Solana has ~3k nodes which is only slightly less than the number of Ethereum nodes — but it's also 10,000x cheaper and has at least 100x more capacity...seems like a tradeoff worth considering.

"Ok but those nodes are in datacenters, no one can run them at home"

Reality: Actually you can run them at home, this is a myth.

Bare metal is just more convenient.

ETH is not immune to "convenience" either, you can see this with i) Lido's domination ii) how many ETH nodes run on AWS.

Also, Solana is in more datacenters than most networks have nodes in total.

Read that sentence again.

Calling over 3k globally distributed nodes "centralized" is non-sense.

"But in the event of world war 3 or a nation state attacking the network, you wouldn't have censorship resistance because you can't run nodes at home"

Reality: Check the map above. You are saying that *all* of the locations above would be shutdown. This is only possible if all governments everywhere, ever, simultaneously decided to crack down at the exact same time. Statistically impossible.

And assuming this did happen (lol) — you CAN run nodes at home still!

You know what will actually censor you as a user in this case?

The majority of L2s in their current state.

They are generally single servers (sequencer) governed by a multisig at best. This is a fact. Calling Solana centralized while not realizing you have 100x worse centralization at home is hypocrisy.

Most of them don't even have fraud proofs....

"No... because L2s are still early, they will get decentralized over time."

Reality: and so will Solana..

100% of tech scales with hardware/bandwidth. Solana is explicitly designed to take advantage of these improvements. Not to mention light clients and optimized clients driving hardware requirements down.

You can't both make the claim that L2s will get more decentralized AND ignore that Solana will also get more decentralized over time. It's a total contradiction.

"Okay well even if L2s are centralized, users can still force include transactions into the L1"

Reality: Ignoring the fact that 99% of users won't do this (since almost none of them currently run their own nodes DESPITE the nodes being easy to run)....just think about this for a second.

It is "World War 3". The L2s are being censored. You must i) run your own ETH node and ii) force include your transactions / make the txn directly on the L1

Since this is the only last "censorship resistant" piece of tech remaining by construction of the argument — there is obviously tremendous demand.

You know what can't handle a surge in demand at the base layer? Ethereum.

Who is going to pay 2,500$ in gas costs? People who can afford it.

And if they can afford that, they can afford running a Solana node. The accessibility argument has fell apart.

I understand that Ethereum is technically more decentralized due to it having more nodes.

But to say that this somehow implies Solana is "centralized" and prone to "censorship" is absolute non-sense.

It also completely ignores incentives.

If something is more expensive to run and hence is less accessible to the majority BUT people have more incentives for it — that thing can easily win out. Simple supply and demand. I could've bought a windows laptop or an M2 laptop. Even though the M2 is much more expensive, I bought it because it helps me more. I have more demand for it.

You can't just optimize for supply but not demand

Both design spaces can & should be explored, obviously.

This "Solana is not decentralized" argument is objectively nonsense.

[GenesysGo @GenesysGo]

It's live! DAGGER Testnet Phase 1 has been deployed!

- https://t.co/rkCwSz5iCc Check out the very first stages of the testnet demo here. This is more demo than testnet atm but over the coming weeks binaries will be released and functionality will continue to be opened up for use!

- https://t.co/CK4yMdWCK8 - First DAGGER blog release we've done! We also have a series of articles we will be publishing to the Shadow Cloud Blog over the coming days.

- https://t.co/EXYbbF2SFy

So what's actually happened/happening? What's the purpose?

1⃣ What is DAGGER and why are we building it?
DAGGER is a high speed consensus protocol built around data management and scale. DAGGER is built to have the ability to stand alone as an omni-chain Layer 1 capable of integrating with any other Layer 1 in order to ensure all blockchains have the ability to manage and scale data properly without sacrificing performance.

From the beginning of the deployment of $SHDW Drive our design choices have been focused on decentralization and improving on all of the existing #web3 data storage solutions that exist.

The architecture of Shdw Drive v1.5 utilizes Ceph on the back-end. We won't go into the "why" here as all of this lives in our docs and can be reviewed here: https://t.co/AdyuX1C0sz. However, for those who remember, this was never meant to be the final form of the architecture.

We have taken the best things from #Solana, from the publicly Hashgraph algorithm, and combined it with our own custom design work to create an ecosystem agnostic omni-chain platform that is significantly more than the sum of its parts.

Please be sure to check out the above links above as they are imperative to truly understanding DAGGER, its architecture, and its purpose.

2⃣ What is the Testnet Demo's purpose?
More importantly than anything else, the purpose of a Testnet is for it to break. All phases of DAGGER's testnet are with the hope that it breaks repeatedly as this means we're finding any and all issues in a phase of DAGGER's lifecycle where it's okay for everything to burn to the ground!

Should you find any security issues please report them here: https://t.co/mzvLMdVaxj

This first phase of the DAGGER testnet is all about showing the capabilities of what the team has built in its most raw form with the knowledge that performance will only become more fine tuned and scaled from here.

At GenesysGo we believe that the best way to move progress forward is by failing forward. As such, we want ppl to be able to actively explore https://t.co/rkCwSz5iCc in its earliest stages as we continue to expand and build. The data we gather from each iteration as the public Testnet grows more and more interactive will accelerate our build much faster than us building in a silo.

We also felt that it would be more impactful for the community to be able to see DAGGER's performance in real time as opposed to relying on yet another public dashboard.

3⃣ Who is running the hardware?
▶️We will be releasing binaries in the next couple of weeks for anyone to install in order to operate a DAGGER node◀️

4⃣ How does Shdw Drive v2 fit in?
DAGGER is to Shdw Drive v2 what Ceph is to Shdw Drive v1.5. DAGGER is capable of powering many many things, Shdw Drive v2 is one such platform DAGGER will be powering.

5⃣ How does the $SHDW Token fit in?
Currently the Shdw Token is the means by which users of Shdw Drive secure storage. However, as DAGGER progresses the Shdw Token will also be used by independent operators to gain access to the Shdw Network in order to contribute compute/storage and secure the network.

Operators will receive rewards in the form of token distributions paid out programmatically and user fees being directly paid to the operators in exchange for contributing compute/storage and helping to secure the network.

The specific economics of the DAGGER network (i.e. compute units, etc) are still being finalized and we will be able to finalize those details after we release binaries for independent operators to connect and we analyze the real time data as the Testnet scales.

PLEASE NOTE, while there is overlap between the two, DAGGER network economics are different than Shdw Drive v2 economics. To that end, the economics of the network and how it utilizes tokenization in order to secure the network against bad actors will be explained in a follow up paper we are currently working, we plan to finalize this work once we have the real time network data.

7⃣ Conclusion
This is a massive release for our team and we are incredibly excited to debut what we've been working on. Over the coming weeks we will continue to publish more articles to https://t.co/UaL0NheWMP so please stay tuned as more information is released regarding the continued expansion of DAGGER's tech, its ability to become its own ecosystem, and the economics around rewarding users, holders, and operators.

*Edited to correct typo*

[Wall Street Mav @WallStreetMav]

Great Depression vs Silent Depression 🚨🚨🚨

Comparing costs of homes, cars, rent and income between 1930 and 2023.

These numbers are incredible.
What went wrong?

🔊 … sound on

[GenesysGo @GenesysGo]

$SHDW Drive now offers seamless S3 Protocol-Compatible Client Access for all @Solana users!

Details below:

[Frank @frankdegods]

My thoughts on recent events, DeGods, y00ts, and more

[Bloomberg Originals @bbgoriginals]

Ever wonder how much it takes to raise a child in this economy?

One study crunched the numbers. @LisaMateoTV has more https://t.co/OAYncItCHN

[Shadow Storage @shadow_storage]

Shadow Storage 3 🚀

A new chapter has begun.

◆ Faster uploads
◆ New drives dashboard
◆ Better user experience
◆ Multiple ways to sign-in

Watch the video 👇

[Bloomberg Originals @bbgoriginals]

🎙Sam Bankman Fried seemed to be living a dream life in the Bahamas. He was barely 30 — and a billionaire.

And then it it all came crashing down. @business and @WonderyMedia present Spellcaster. Listen now https://t.co/LdqRqgnLrW

[GenesysGo @GenesysGo]

The $SHDW #SolanaNFT standard for #SolanaNFTs is live in our github! https://t.co/YotMeGBd0U

Key enhancements:
- It costs less rent for creators to deploy collections.
- It costs less rent for minters.
- The code is fully open source and forkable w/ apache2.0 license.
- It uses a simplified accounts structure to make reads easier and less resource intensive.
- Uses token2022 so eligible for any extension available with token2022.
- Future development and upgrades to the smart contract are fully governed by the $SHDW @Realms_DAOs.
- No extra or 3rd party fees anywhere in the contract.

Note, $SHDW is purely for proposing and/or voting on enhancements. Anyone, regardless of whether or not they hold $SHDW can propose issues, leave comments, and utilize the code.

This ensures that the SHDW token is purely a governance token and NOT a method of gatekeeping.

We're currently talking with @phantom, @tensor_hq, @MagicEden, @solportio, @solflare_wallet, and others on integration/support but whether or not the new standard is supported on #Solana is entirely up to them. All we can do is ask! We'll be submitting a PR to @xNFT_Backpack very soon for integration there as well.

If you're creating an #NFT collection on @Solana and have questions about using the new standard then don't hesitate to hop into our Discord for support! https://t.co/GiGwUMCRK1

[StarGarden @PlayStarGarden]

💧The Aurahma have found their way onto the @SuiNetwork & the allowlist is now OPEN!!!
#BuildOnSui #AurahmaMint
https://t.co/uv4vBiG3rk

[StarGarden @PlayStarGarden]

🎮 What creachie are you most excited to take into battle this week? #EBP

⚡️Like & retweet your favorite creachie video below & let see who wins! https://t.co/1vKTRr72Mz

[GenesysGo @GenesysGo]

Are you trying out @synx_xyz's new mobile app, curious about how to use @shadow_storage, have questions about @sdrive_app?

Join the GenesysGo Discord at https://t.co/GiGwUMCRK1 and look for the support channels.

$SHDW Drive's goal is to help empower #Solana builders and one of the ways we do that is by making sure users have a consolidated place to go for all their support needs!

[Ryze Labs @RyzeLabs]

Is a world without the US dollar as the dominant force in global trade on the horizon?

@ericnemeth23 dives into the potential implications, challenges, and the need for meticulous planning.

https://t.co/9PfQ73t8qi

[The Cultural Tutor @culturaltutor]

And so skeuomorphs divide opinion.

Are they an effective model and a natural progression from the physical to the digital?

Or should digital design be unshackled from past expectations and more free to innovate?

[Dr. Nicole LePera @Theholisticpsyc]

If you show frustration or anger through: sighing, giving the silent treatment, or making sarcastic comments, you have a passive aggressive communication style.

Here's why: