Hi all, I think we’re at the point where it would be highly effective to have an AMA session with both Tai and Loong given recent developments.
Some of the topics I think the community would like some clarity about:
Alameda relationship going forward (Wormhole project? what were the mechanics of the deal vesting/further funding?
Thoughts on the new cross-chain paradigm (0conf doesn’t seem to be going anywhere, RenVM fees go up with high velocity mints/burns, but with new cross-chain AMMs we could be cut out from ‘secondary’ transactions)
Team size, growth plans
Relationship with Rook
Airdrop from SBF for darknode operators?
Ok maybe the last one is just being cheeky
FYI I suggested this to Tai in the telegram 3 weeks ago and he was very much up for it. @MaxRoszko could you help set this up please?
Any type of collaborations or efforts to implement a dark pool or new staking mechanism . Now that price is higher, many people come into ren and are very disappointed that only 100k tokens to earn any kind of yield on their stash. If I had to guess, that has cost us and will continue to cost néw user base dearly
Some of my questions were already mentioned. But in addition to the above:
1 - What were the terms of the agreement (that you can share)? Was it an “acquisition,” an “acqui-hire” (?), etc.? How would you best describe it (ideally with 1-2 words)? And can you share resource time commitments that were agreed to as part of this deal, e.g. core team members remaining at Ren for X months/years, etc.
2 - When will we hear more details from SBF on the reasons for his investment in Ren? Have you discussed releasing more info jointly, or having him provide more details on why? To date there is very little from him or his group about how his investment into Ren fits into his strategy. Industry consolidation is usually a sign of maturity, but only when there is a clearly articulated vision and strategy. That seems to be lacking here so far from SBF, at least publicly. And why do you think we’ve heard so little from him to date?
3 - How did organizational members get paid previously (source of funds), and how has that changed after this acquisition? And while there is apparently no change in who sets priorities (still the Ren team), were any commitments made as part of the acquisition that changed the Ren team’s priorities, at least for 2021/22? If so, how?
4 - What do you see as the top 3-5 reasons (ideally ranked from most important to least important) for accepting this investment? How will you objectively define success of this investment, ideally looking back in 2-3 years?
5 - Mint fees were changed for “experimental” purposes. What have you learned form those experiments, and how will it impact future pricing? What is your stance now on variable pricing, with fees linked to time an asset remains within RenVM?
6 - Was MaxRoszko a good addition to the team, or a great addition to the team?
How is the additional hiring coming along? Which roadmap items are these new employees focusing on?
RenVM team treasury, how large is the current team treasury to fund ongoing development? Is the treasury diversified into some stable coins in case of volatility? Is this treasury invested in DEFI to earn a stable yield somewhere? What is the current Burn rate of the team, has the bleeding stopped due to revenue?
Does the team operate Darknodes producing additional income to continuously fund development. What % of DN are team-operated?
Grant programs for building on top of RenVM, how can we continuously fund them? More devs = More Development. Other community members suggested launching a KeeperDAO bot to feed the treasury, the MEV opportunity and familiarity of the project could easily create a lot of value.
What is Tai & Loong’s lichess chess handles? Would very much enjoy a friendly match!
Has the team looked into L2 solutions being discussed on ethreum at the moment? Projects like Polygon, Optimism are already being integrated with quite a few big projects such as synthetix, sushi. Even if it is still early it would be great benefit if renBTC becomes available before or at the same time as wBTC becomes available on L2 protocols.
Is it possible to give a bit more details on how the progress with 0conf is going? Are there more L2 projects on renVM that have showed interest or started building already? Universal wallet solution would be great L2 project.
Even if no timeline can be given are there any rough ideas as to when privacy and darkpools could start being introduced to renVM? Does that have to wait until final stage of mainnet is launched?
The recent update of greycore was great, especially with the live roadmap. Is the roadmap only for greycore launch or are there plans for a higher level roadmap that gives more insight on the timeline of many other things being worked on and implemented? examples, new chains/assets being added, any chain <> any chain support
As other projects launch capacity to move ERC20 tokens to other chains there is a natural concern to fall behind on that front especially as an integral part of interop is to allow a wide variety of assets to move between chains. How does the team see this angle and is there a parallel effort to address this efficiently without falling behind? Main concern from my side is the fact that stablecoins are currently under such high demand it would make sense to try to address that asap.
Has there been any thoughts around giving node operators more privacy? especially efforts to obfuscate IP’s through various means.
Is it possible to structure darknodes so that a separate wallet holds the 100k REN while proving they are locked? This will allow one wallet to hold the REN while a separate entity can maintain the node and receive rewards. Or is this technichally unfeasable as nodes need to “control” the 100k due to slashing and restoring the network? Trying to think of ways to simplify pooling, whats the teams thoughts around pooling and what options are there?
x. Will add more questions as they come to mind
EDIT: 8. Has any discussions with Aztec been revived? If I’m not mistaken they were in ren alliance and they are about to launch mainnet soon.
What is the progress regarding “Ren in 2021” development update?
1- The fee systems will be upgraded.
2- Bonding (and bond redemption) will be upgraded.
3- The movement of cross-chain assets between host chains will be enabled.
4- Our documentation will undergo a big overhaul.
