I understand that Ergo is low on funds for marketing etc as it is highly decentralized.
I would like to propose that Ergo community set aside maybe 10M worth of ergo to start a OHM fork that uses ergo as the reserve. To then boost Ergo value and media.
This is my understanding and may have many errors. But after trying to understand these extreme APY offers on some projects this is what I see as useful. These can be used as fair distributions for tokens on ergo chain, to draw lots of attention and build marketcap and ecosystem value and keep the system backed by a portion so people don’t lose all their funds.
My current understanding is that Erg could be in the mix of tokens…
Otherwise people can just make this in the near future as community developers and still being more users in etc.
I think with KYA there can be no unsafe loses.
Is there something I am missing that is extremely risk or scammy about these projects? To me it seems like a glorified SigmaUSD focused on volatility with staking multipliers.
If you were to use something like this to boost the funding or at least marketcap so each erg goes further… Would that be considered scammy or ponzi by people? Ponzi needs a scale i thin because most things could be considered a ponzi scheme… Anyhow i look forward to hearing more about how this can be useful or if the code barrier or reputation are reasons to not do it.
This is a timestamped interview of this guy daniele talking about how he sees DAOs being used to source funding in the future.