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AAG #221 - Max 😵
Recorded: April 7, 2025 Duration: 0:35:28Space Recording
Short Summary
Kusama's treasury shows robust growth with a significant increase in KSM holdings, while multiple project launches and funding proposals highlight ongoing innovation and community engagement in the ecosystem.
Full Transcription
so so so so Thank you. I'm out. Thank you. Thank you. so Thank you. Music so so I'm going to go to the next video. so big we're here at attempts at governance episode 221 and i'm coming at you live from the polka
blockchain academy in lucerne where in less than an hour I'm committed to host a panel with Raul and Otar all about governance.
They are inundated, inundating these poor folks with governance. Days and days of governance philosophy and education.
It's like being forced to sit in front of this show, but different.
Different in a lot of ways that we'll probably discuss in a few weeks.
We're going to start with the state of the treasury, which is looking very good, okay?
Not all charts are down this week.
On the Kusama treasury, which I am showing on screen now, we are up 7,422 KSM which is worth 94 cents no that's $94,000 at today's market value
bringing the Treasury to 368,070 KSM that is the state of the Treasury we'll
now throw it over to limo for a look at referenda gone by I was gonna say the
market's bad but not that bad holy shit yeah luckily there's not that many refs um no q samuans uh this week um
only a few parachuting ones so we've got akala ref 163 this was approved and this is a proposal
for akala to integrate the evm plus network with the lbank exchange and it cost around 300 000
aca tokens then we have a star ref 18 this was approved. It's ASTAR runtime upgrade version
1.401, which includes an update to the proxy palette and the ability to configure inflation
via governance. We spoke about that last week. Then we've got Bifrost Polkadot, ref113.
This was approved. And this is Bifrost runtime Grade version 0.18.0, which seemingly activates async backing and a bunch of other stuff.
Quite a big change.
Then we've got Hydration Root Ref number 49.
This was approved and this registers LBTC, which I think is Lombard Bitcoin, and updates the asset registry with a bunch of token name changes, basically.
Then we've got Hydration Ref 51 on the spender track this was approved and it is for 569 000 hdx for subscan funding proposal for q4 2024 and q1 2025 and finally
bifrost kusama ref 97 the same as that polka dot one um that we spoke about just now and that's
all the rest combined very nice thank you very much. Yes, async backing has been enabled on Bifrost.
We've seen this chart here.
Block times have plummeted to six seconds per block,
down from 12.
Nice little boost on the latency there.
And I think we're only going down from here
as we make block space more useful
to parachains, roll-ups on Polkadot.
And thank you very much for that, Limo.
We're going to dive right into
Kusama today. And we actually have a few juicy morsels on the line, starting with, well, a quick
look actually at the RFPs. Is it so? Yes, RFP number one. This is to implement those ZKEVM contracts and get a sort of mixer tornado cash-like thing.
This is enjoying a beautiful 88.8% of support from all rational voters in the Kusama ecosystem.
We have had one submission, actually, by that original team that we base this RFP on.
One submission is all we need, although we are open for more. If another team comes along and wants to compete for this $50,000 prize, then we would be very, very happy to consider it.
Also on RFP number two, the RFP launcher, this is halfway through the decision period and 100% support right now to build a DAP that launches more RFPs.
We also have a submission for this already, which is fantastic.
I was expecting a few more.
Maybe we will get a few more.
And also, there's also the option if we have a team that looks very strong on front ends,
on UI, and a team that looks very strong on the back end,
maybe we could even combine them.
That's a possibility too.
But on both of these RFPs, if you're interested in applying,
all you have to do is scroll down and click this form, which will bring you to this simple
questionnaire. And we're not looking for your great vision or anything like that. Simply leave
a sentence talking about a time where you or the team absolutely crushed it. Drop a link to prove
that it actually happened. Tell us about your specialty. Tell us your name
Give us your x-handle. Give us your telegram and that's all there is to it
We just want to know that you're alive and that you have a history of executing and if we're interested if we think you're not
Absolutely full of cock-a-doodoo. We will reach out and ask for your master plan
You just have to make sure that you have a master plan when you're ready or when we're ready to ask you about it
So it's very simple to apply. We'd love to hear from you. Please do let us know.
Opening up new refs today, we have a new whitelisted caller from Alex.
This is to increase... Oh, this isn't new. This isn't new, actually.
We talked about this last week. Increasing the max validators to 700.
And this is a little relevant this week because we have seen our dear leader,
Gavin Wood, absolutely take the non-Web3 blockchain projects to task. It has been
something to behold. Limo, I would not want to be any project rhyming with Bobana this week.
No Bobanas allowed. banners are banned completely.
That'd be rough to do.
It'd be a rough go for sure.
So increasing the maximum validators in the active set at a time to 700.
I remember when it was just 250, I think.
400 is coming to mind.
700 is absolutely ballistic.
And if it works out on Kusama, we move it to Polkadot.
And then that Nakamoto coefficient goes up uh bringing us to unstoppable heights also yes i want to throw
it now to who is it who is limo yes a quick note so there is a thousand validators on kusama this is
paratrain validators so this is like increasing the number of available cars primarily so it's
like right there can be up to 140,
but there's not 140 on sale
because there's another parameter you have to change
to decide the number of cars that Kusama wants to sell.
I think there's something like 94 cars on sale or something
on Kusama every month,
but it can change frequent.
So wait, am I wrong about what i'm saying
here about it in increasing decentralization this particular type of ref um so this is the
parachain validator set size so on polkadot when they do this they do also increase the
actual validator set yeah right um because on kusama there's like a thousand on polka dot there was like 250
then they've actually been increasing it so when they do this on polka dot it does actually increase
the nakamoto coefficient and stuff on polka dot yeah but yeah yeah but we're already at a thousand
here on uh on kusama yeah as far as i know yeah all right interesting very good thanks for that
clarification we have a discussion now a pol Poketalent. This is,
oh, it's actually become a ref. Let's open up the ref. It's become a ref since I set up the show.
This is 515. Poketalent, recruiting Web3 freelance devs for early user journey interviews.
This is 32 KSM to actually interview just to pay people for their time to come in
and talk about what they've been building. This is a pilot project by the folks at Team Virto at the Virto
Crew. The Virto Crew is doing this and just a small bounty, 32 KSM, not even
worth a lot today to bring people in to have a
conversation. I think that's probably a very good idea. We'll have to see what
people think about it though. They're still looking for a decision deposit, but
it's on the big tipper track so it will be gone before we know it.
Next, REF 512, adjusting only the ideal bulk proportion.
This is by Daniel on the root track.
This is a big one halfway through the decision period with 100% support.
And this is an improvement on a previous proposal to do this while reducing inflation and therefore staking rewards.
That rubbed a lot of people the wrong way.
A lot of validators didn't really want to mess with their rewards at this
moment.
So it was resubmitted with this only tweaking this one parameter here.
And perhaps Daniel's even looking to come into the call.
Here he is.
Daniel Alano sliding into the AAG Max Payne room.
Daniel, welcome to the show.
Yes, hi, everyone.
While I was doing that, I need any major discussion.
What's that?
No, we just started discussing the ref.
Yes. So basically, at the weekend,
when I was hanging out with the Pala Labs team,
I was vaguely looking at call time stuff.
So there's a few things we can adjust.
This is one of them.
So this is like, if 40% of the calls are sold,
then the price in the next auction will be more expensive right currently
all of them need to sell um we we can also look at like reducing the number of cars on sale on
kusama potentially um on polka dot there's only 18 cars on sale i think it's like 10 of them get
renewed so eight are on the upper market um from looking at it there was like parity bought one i think richard
from excavate bought one um clary bought one there was another pirate id that bought one so there's
not that much like demand currently uh on polka dot on kusama there's like a bit um but demand
will go up when people uh need to use elastic scaling, which just people are not doing at the moment.
So if you want the price of cars to be more expensive,
this is a good thing to approve,
and then potentially reducing the supply of cars
is maybe a good thing to look at as well,
because right now it's just flooded,
and that's why the price was like zero.
I think you could buy all of the calls for less
than the price of a 500 milliliter bottle of coca-cola which is pretty insane it happens
actually we are victims of these several times this new period we fall again like i set an alarm
for the exact moment the exact day when the new core time cycle,
like the bulk cycle was going to start.
I was late five minutes and there was already a player
that had already bought all the cores.
So this is one of the inconveniences.
Like if the cores are priced correctly,
then you don't have people like sculptors that just hoard all the cores are priced correctly, then you don't have people like sculptors
that just hoard all the cores.
And I do want to pay for, like as a builder,
I don't mind paying for a fair price
that kind of represents what the actual cost
that validators put into security in our network.
I would actually, like many people say that
prices should be very low to let anybody create their own parachain and so on but i think
sure they should be cheap but ideally not so cheap so these kind of situations don't happen and I think it's
more like okay we set a fair price a that represents the actual cost of the
validation but then try to help people with programs we a proposal like tell
people hey you can come up with a proposal and and the community will give
you free corte and so on so yeah
ideally we start pricing things more realistically and and more people can and like and we can start
benefiting from from the increased price now yes um yeah there's a few issues with core time
markets at the moment like i said at the weekend i was hanging out with a bunch of
polka dot people and we were just nerding out over this um so there's three distinct periods
for car time sales you have the interlude period where if you already had a car and a para id you
can renew it for really cheap let's say on polka dot it's like 0.9 dot then you have the uh lead
in period it goes from 0.9 dot to nine dot and then goes down
in like a dutch auction mechanism to 0.09 dot over two weeks right and then there's a fixed price
of 0.09 dot on kusama it's like the same but there's so many zeros i can't remember how many
zeros there are um so there's a few issues um one is oversupply on Kusama is dumb.
The other one is there is no mechanism to prevent people from buying all of the cars if they think cars are too cheap.
So, for example, if at the very first few blocks, whatever,
which is what's been happening, like Daniel said,
if people just buy all of the cars um the
price doesn't go up so what i think would be maybe uh interesting is to have like an lbp mechanism to
this so in an lbp mechanism it's a dutch auction but then if there's like loads of buy pressure the
price goes up from the curve right so people just started mass buying cars the price will go up and
up and up um right now the the price goes up between months,
right? So if they're all getting bought out, the price will go up in the next month and
then the next month, blah, blah, blah, blah. But there's no anti-sniping protection within
the month for people just hoarding them. And it does seem to be happening on Kusama every
month. I have a group chat with some parity people to try and dox who's bought cars
so they can try and buy it off them.
Then there's another problem.
There is no secondary market.
There's no marketplace to sell them.
RegionX and Elastic do not have marketplaces.
So even if you have cars,
there's nowhere to actually trade them.
RegionX are doing this.
They're making a parachain for it.
But for example,
there's not even like a trusted solution
with like an escrow or something
to actually sell cars. So you have to know who's bought them to dm them and be like
can i buy one off you um like this whole mechanism is kind of weird and i'm very surprised there's
no price protection within a month's sale um it seems a bit silly to me
but maybe i'm wrong limo was what you were just saying about the quartile marketplace
is there an rfp in there um potentially uh potentially over this weekend i decided to
maybe do some uh kind of uh not fully web free solution for cartime markets potentially because
we seemingly need one um
yeah because i don't know how long region x is going to take to make their chain that because
their chain is going to facilitate this yeah but i don't know how long that's going to take can't
wait on um yeah whereas for me it's like you have an escrow account obviously the escrow can get
absolutely right potentially you trust in someone with the cars right but it's like if you ever
played like world of warcraft or anything with an auction house in a video game it's like item expiration price seller and then
you just buy it like i don't know why nobody's doing that so we are actually uh creating that
with a few people currently um because why not it's funny come on down to big bargain basement
for quartan yeah because these people that buy them i
think they buy it to take the piss but then if they want to take the piss more and they're like
i bought a coffin not like not not not one ksm maybe just like yeah i'm starting for 100 ksm
and then maybe someone actually wants to buy it for 100 ksm or whatever it is uh but they just
don't have the option to do that. So why not just make the marketplace?
So, yeah, we had a productive weekend talking about all of this.
Very, very nice.
All right, well, let's push on here.
Thanks very much for that discussion.
I've never actually heard it articulated so well.
So thank you very much, both of you.
I will say real quick, we don't have time to show it right now, but do check out on the Kusumarion this video with Gavin.
It's called Elastic Demand, and this is the other side of the equation, which is making core time more useful.
Definitely do listen to this. It's a couple minutes long.
Try to wrap your head around it, especially if you're building close to the metal here with polka dot.
Maybe a reframing of mine from optimizing block space to making it more damn
useful. Check it out. Okay, we're gonna move on now to a new Ref 514. This is on
the whitelisted Colatrac by the Snowbridge folks. This is to register ERC
20 assets on Kusama. This was recently proposed on Polkadot, but now we want to register these assets so they can be brought over to Kusama, I guess.
Things are getting wild and weird here with Tether. I mean, non-native Tether, non-native USDC. What else have we got? We have Pepe, we have Lido, we have Stake Dye or Savings Dye, LBTC, Sky Token, all kinds of tokens here, which will soon be recognized on AcidHub.
Should voters come in and support this ref, which is currently enjoying no votes.
Also on Kusama, looking at the drama from last week, I think I actually know who this is.
I think I know who this is now.
And they came into my DMs to give me a little correction for something we said last week. Unfortunately, I can't remember the correction, so I can't correct it. But this is the problem with anonymity. You just have to come in and say the things yourself. 67.9% support. And the other one is to force transfer funds
from the YudelDAO back to the Polkadot treasury, I believe.
31% are supporting this, but not all.
I hear some are actually in trouble.
Limo.
Yeah, just a quick one on this.
So somebody on Twitter tagged me in ChaosDAO or something,
and there's a lot of talk about me.
Yeah, the Kota and Gabe wearing ChaosDAO style at one point as a lot of people have been uh they were kicked
um pretty immediately after they uh i think absconded with funds from the polka dot assurance
legion that i don't have to pay back i think they might have done um they're not affiliated with
chaos style please stop tagging us saying this is our problem it's very odd all right stop picking on
chaos now honestly stop bullying chaos stuff um all right thanks for that yeah it's a weird one
i mean these are this is this is purely these are just purely emotional voting i i don't think we
should probably force transfer funds um you know might be a bad also place a decision deposit if you want people if you actually want people to take it seriously
when they primarily because there's no decision deposit and fast transfers of it sus um but like
if you want it to be taken seriously place a decision deposit like yeah very good now despite
all that moonbeam 96.72 in favor of registering the Varch token and opening an HRMP channel.
I don't know if Derek Yoon is getting the heat as well for his association with Varch,
but this trustlessly submitted ref would like to bring the two roll-ups closer
and is so far enjoying massive support on Glimmer.
The laptop battery is dwindling to 10%. I have closed all poke assembly tabs, hoping to preserve just a little more juice to
get to the end of the show, but we'll see how far we get. Moving on now to, oh, staying with
Moonbeam actually, still looking to reduce the self-bond of collators to half a million glimmer.
This is 99.96% in favor on the route track.
And yeah, I guess that'll be...
Oh yeah, here we go.
Eight hours, 41 minutes remaining in this decision period over there.
On Basilisk, Subscan looking for a little bit of funding for Q4 of last year and Q1 of this.
$145.96 million BSX.
That's what they need to keep the lights on for the Basilisk chain.
And over on Bifrost, Polkadot, yes, we have, am I showing this on screen?
Yes, the funding proposal for, oh, well, look at that for Subscan as well. Subscan looking for 88.7,000 BNC to keep the lights on for Bifrost.
moves to update the DAP staking parameters to enhance the tokenomics,
stabilize the APR, basically make the whole economics work a little better.
This is by a council member, Gaius Sama.
And it's a bit of a controversial one because we're sitting at 55.8% in favor of this one.
Just two votes on the nay side.
two votes on the nay side, but boy oh boy are they heavy nay. We have giraffe of hydration fame
But boy, oh boy, are they heavy nay.
on the nay side with 5.48 million a star, basically carrying the dissent here. And what
do they say in the comments? I would prefer to get paid good for holding this gem to zero.
Okay. And the link to the tokenomic adjustment proposal forum discussion isn't working and did not find and they did not find such a discussion
Alright, they were pointed to the new thread. We'll have to get an update on this next week. Limo any news on this one?
I just know giraffes delegates the chaos style so it was typical chaos style response. Okay, alright
Just say it like it is. Finally, over on Pokédex, ref number 27, what are they looking to do here?
I'll tell you.
They're looking to burn a million PDEX.
The PDEX supply is currently 22.7 million tokens.
And, well, 1.9 million of that is in erc20 the rest is natively on pdex and this user
is requesting to burn a million pdex treasury tokens to keep the maximum supply below 22
as per the tokenomics how did that creep over i'm not sure but somebody's looking to bring it under
the initial 22 million this is a ref but where are the votes well we have to wait for to load
okay focus decks is only on poke assembly so we're going to wait for the votes to load here
and we'll see if the votes load before the laptop battery actually uh runs out get the polymarket
spun up real quick a quick polymarketmarket? A quick bet on what comes first.
A quick bet on what comes first.
Well.
So, in the meantime, how's the PBA, Jay?
Come on, you've got like 5% battery left.
A lot of good things about the PBA.
A lot of great people here, for sure.
And it is the first PBA where people,
they're only doing the two and a half weeks or
the two weeks, right? So there's definitely a different vibe here. Usually you come into a PBA
and everybody's like, I don't know, like almost like they're sweating on each other and they're
like, they're so close. There's definitely like not, there definitely hasn't been that much time
to get that kind of energy going. However, I think there are a lot of positives to this approach.
I think I'm going to hold my full report until I imbibe in it a little more.
Because I have only been here a few days and most of them have been very bleary-eyed, for sure.
The jet lag is rough on this trip.
I don't know what's going on.
It's not usually, but I don't know.
I'm just hit on this one.
So that's it.
That's everything I wanted to cover today.
And we do have a few percent battery left.
I will let you know if the Pokedex results load here.
But did anybody want to say anything before we get cut off?
Yeah.
Ref1501 on Polkadot.
Renewal of USDT and usdc uh from dca um yeah i still don't understand
why people are nay on this we need usdc usdt um it's obvious um there's even people that are
receiving usdt usdc say we shouldn't dca i sort of the course of a year, it's not just immediately dumping it. A DCA is supposed to get volatility, right?
Like just for it.
Yeah, I don't understand why people are too mad.
Also posted a nice tweet today about claiming USDT and USDC spends.
Yes, thank you.
Yeah, don't forget to do that.
Don't lose your money.
It's pretty dumb, but yeah.
Hey, new open gov primitive
suggestion okay in order to vote on economic proposals you need to submit the past performance
of your own uh your own portfolio be a lot of people down bad me. Yeah, nobody, nobody can vote.
Okay.
Yeah.
Anything else?
No, I think so.
It's been a fire.
I had Bifrost is coming for a million dot.
Coming.
Yes.
Yes.
For.
Yeah.
Yeah.
I mean, do you want to add a little context there?
Cause that could sound a little spicy.
No, they're just going to steal that.
No, they're coming for from million dot for stay vigilant
i i believe and sorry tp and everybody if it's wrong i believe it's like a million dot split
between um liquidity for like unbonding v dot and then also for like a v dot dot pool um yeah
seems good nice nice cool they always pay back their debts and stuff. So,
pretty good. Good lads, good lads. Yes, Daniel, with just a few percent left, please.
Now that you guys started this whole culture of RFPs, what should we do to get a new one like i have a a wish list let's say i own the kusama.app
domain and i have an idea of what i would like this domain to look like basically a governance
tool for daos and i think there might be interest in maybe open square to develop such a tool or any other
thing that wants to to do this is welcome uh what should i do who would like to be also
part of the curator set that that can evaluate such a tool very good yes well to answer your
question you just have to do what we did on the show a few weeks ago and launch a one-shot ref with uh with the scope and the bounty curators
and the prize those three pieces of the prize are very important especially the finder's fee we did
have somebody claim a finder's fee already on one of the submissions i wish them luck i hope it
doesn't bring down the whole project in fUD. But yeah, just do that.
And then basically your RFP is put up to public scrutiny.
And if people agree with it, then hey, you have a fully loaded bounty for this RFP.
And if people don't like it, then nothing bad happened.
Yeah, I think it's good to post on the polka.forum or something first,
like what exactly it is you want to do,
and then see if people are interested in helping you
with the RFP being curators and stuff, right?
Yeah, so yeah, basically also kind of looking for creators
that might be interested in evaluating such a kind of work.
Like, maybe I want to remain neutral,
and I just say, like, I have this domain, this idea,
but maybe other people can evaluate and develop.
Doesn't need to be everything the same people.
I think as long as you're not going to build it yourself,
I think it'd be great if you were a curator,
if it was your idea.
That's just my personal opinion.
Jose, we got 2% left, so go ahead. 1% then.
