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Maia Ecosystem Weekly AMA
Recorded: Dec. 1, 2023 Duration: 0:56:49Space Recording
Full Transcription
Hey, hey. How are we all doing?
Very nice. Thanks. And you?
Wonderful. Hey, Kron.
Yeah, me and Light
are saying hi to each other like we weren't
on a call together 30 seconds ago.
Yeah.
Hey, everyone.
Hello.
Hello.
How are we today?
Very nice. Thanks.
And you?
Yeah, last two or three days,
it's actually
snowing outside pretty heavily.
So that's kind of cool.
Looking forward to
maybe take a car in the evening somewhere
and have a little fun
on some parking lot or something.
Yeah, that's really nice.
Yeah, usually it's like
really nice weather
around the start of December
and around Christmas it's
you know,
10 degrees and
mud everywhere.
We got some snow here too.
Not too much, but a little bit.
So cold.
Oh, in Australia, I mean.
In Africa, where we live.
Yeah.
Hey, Badger, how are you doing?
All right, thanks, man.
Yeah.
Just trying to stay warm.
I'm wearing
doing good.
Yeah, I'm wearing a hoodie,
a jacket,
a jumper,
two pairs of trousers.
It's really cold.
That sounds like
Africa too.
Yeah.
How many degrees
so this?
I'll have to look it up.
Give me a minute.
Yeah, also super chilly
here.
I mean,
I still didn't
use the
thermostat.
How the fuck
do you call this?
Thermostat.
Yeah, that's good.
Yeah.
Two degrees, yeah.
But I'm
speaking about
inside.
All right.
Yeah, I don't have
a thermostat, man.
There's two degrees
outside, so
very cold.
Yeah, same as here.
But in the apartment,
I have like
19.5
and it's
kind of
okay to me.
But girlfriend
is always
complaining
that it's
too cold.
But you know,
you gotta save
some money
on the
heating stuff.
Yeah.
Yeah.
Yeah.
Just want to say
as usual,
we'll just
wait a couple
of minutes
more and
then we'll
start.
Another
super important
question for
you guys.
Do you have
a dishwasher?
Yes.
Do you know
how white
it is?
How white
the size?
White, like
I thought
you said
white.
What the fuck
does that?
Yeah, I'm
actually not
sure.
I think it's
like a standard
size.
I'm really
not aware,
actually.
I'll say
white
number.
They sell
either 45
centimeters
or 60
centimeters.
I was
about to
say like
half a
meter.
I guess
it's pretty
close.
Yeah,
I'm not
really sure
if I could
fit 60
centimeters
somewhere.
I'm just
asking if
the smaller
version isn't
like too
small.
but probably
still better
than no
dishwasher.
It depends
on how
much
dishes
you usually
If it's
only two
people.
If you're
like living
only two
people,
it's totally
okay.
A smaller
one.
Actually, I
don't have a
dishwasher.
It's really
funny that you
ask.
I'm actually
going to
acquire one.
I only have
a washing
machine.
I only have
one slot,
so I'm
going to
change it
up and
start going
to a
cleaner.
because
it's a
lot better.
Just
whipped out
the measuring
tape.
Mine is
centimeters.
Okay,
I thought
it was
like a
standard
size.
yeah,
makes
sense.
Okay,
thank you
for some
data.
Now we
know.
Yeah,
some live
data from
the field.
How many
days does
it usually
take you
to fill
it up?
Well,
I eat a
lot,
so I
use it
every day,
literally.
Okay.
Yeah,
I want to
get one
as a
Christmas
gift for
myself,
basically,
because
yeah,
I am not
really good
in this
house
working
stuff.
Yeah,
it's
really
nice
have
one.
don't
have
one,
it's
wonderful
to not
have
wash
dishes
by hand.
Even if
you can't
fill it
you can
always find
stuff,
like a
cup or
something
that can
be just
rewashed
just to
fill
that up.
but yeah,
I think
we should
get it.
Yeah,
hello everyone,
welcome to
the first
world
problems
podcast.
Joking,
we're here
for the
weekly
AMA,
thanks everyone
for joining.
We have
very short
updates in
terms of
the development
side,
mostly on
the governance
and also a
small update
on the
audit process
itself.
I think
we'll start
with the
audit news,
so the
Zellick
retainer
and actually
audit that
they're
performing
is going
to plan,
they've only
given
positive feedback
thus far.
Over the
course this
week,
actually one
of the
team members,
one of the
Zellick team
members,
actually got
sick,
so that
caused a
bit of a
delay and
almost likely
give us
a couple
of days
extra on
the end
according to
the loss
of work
hours that
we experienced,
so we're
not losing
in any of
the money
we put
So on
the audit
side,
it's pretty
much it,
everything is
going exactly
to plan,
all the
feedback they've
given us
daily has
been positive
and only
hiccup is
that one of
their team
members
effectively
was sick
over the
course of
this week
or somewhere
this week.
Also,
maybe good
to mention
that
Code Arena
audit,
also a
public report,
I mean,
went finally
live this
week,
so if you
didn't see it
guys yet,
check it out,
the link is in
the announcements
or also in
a recent tweet.
So yeah,
it's also good.
Yeah,
Exactly.
Yeah,
please check it
out.
It's always
nice to
have a
look and
yeah,
you'll find
it in their
website.
And on the
development
side,
before moving
into the
governance
updates,
just a quick
note that
everything has
been going
to plan.
Not sure
if Marshall
would like to
give any
updates on
the UI end,
but from
the roadmap
or the
internal planning
that we have,
everything is
going to
plan.
Yeah,
so I was
actually sick
for the last
couple of
days,
so I wasn't
able to
progress as
much this
week as I
did last
week,
but yeah,
everything is
going according
to plan and
yeah,
we'll be in
touch with
more news
in the next
week with
more previews
of the
website.
This week
we also
worked a
bit on
our future
landing page,
which is
pretty much
done.
We just
need to
fine-tune
some details
in terms
of styling,
obviously,
since the
landing page
won't require
that much
data.
It's mostly
just styling,
so that
part is
pretty much
final,
and yeah,
we'll
obviously
continue to
work on
the other
pages this
past week.
Unfortunately,
as I've
said,
I was
sick,
but yeah,
I'll get
back to it
today and
over the
weekend as
well to
make up
for the
lost time.
Yeah,
glad you're
feeling somewhat
better,
Marshall.
Yeah,
a rough
couple of
days,
but I'm
back now.
BTY's
had some
meetings this
week with
an L1,
a DeFi
protocol,
and an
influencer.
yeah,
good conversations
there,
and chugging
along,
getting people
ready for
test map
over the
next few
weeks.
yeah,
that's
the update.
Awesome.
Light,
would you
like to
quickly run
through our
governance
updates,
upcoming
proposals,
current
proposals?
Yeah,
just going to
go really
quickly about
the Hermit
Games.
so the
partnership
program has
been,
have passed
two proposals,
next up is
the accumulation,
if I'm not
mistaken.
yeah,
that's it.
the events
for the top
protocols have
passed,
so the top
DeFi protocols,
if they wish to
participate in
bribing,
accumulating,
or doing any
integrations or
tooling,
they can
receive,
essentially,
a boost,
and the
bribing category
that's open
for everyone,
not just for
these top
DeFi protocols
has passed,
so it's
nice to
see that,
well,
we're going
through these
Hermit Games
and the
partnership
proposal really
refined,
has gone
through a lot
of work,
a lot of
phases,
and,
yeah,
it's nice
to see
these last
steps being
taken,
so that we
can start
it when
V2 goes
live,
and,
yeah,
I think
regarding the
Hermes games,
that's it,
regarding a
community
governance
proposal,
it's,
that's also
live now,
in snapshot,
yeah,
it was,
it's about,
yeah,
removing the
DAO's liquidity,
liquidity,
the liquidity
that's in
the treasury,
from Uni
Maya,
and,
yeah,
it may have
some negative
implications if
it goes
through,
yeah,
please read
and get,
yeah,
it's,
and voice
your opinion,
and vote,
I believe
that's the
best way to
go about it.
yeah,
really important
we get our
governance
proposal attendance
up as we
move into
our V2.
perfect,
I believe
this,
this was the
different updates
that we had for
this week,
from the development
side to the
audits,
governance,
and business
development,
anything you'd
like to know,
we are open
to answer your
questions right
now,
please do leave
them either on
the AMA chat
on Discord,
or here in
response to
this post.
Hey,
Anima,
hello.
yes,
we have two
questions,
and updates on
Revest and
YAMA,
updates on
Revest is that
the staking
rewards that
were promised
were not
being hit,
and just
staking directly
in frags
would give us
a higher yield,
especially because
of mainnet
gas fees
well,
periodically
needing to
restake,
it's,
yeah,
it's that,
we did
exactly that,
we're staking
in frags
directly,
it also
essentially,
there's less
overall staking
risk since
Revest,
the contract
risk since
Revest staked
in frags,
yeah,
we're essentially
receiving more
yield than we
would have if,
mostly because of
gas fees,
but,
that still
happens,
if we have,
maybe,
if we have a
larger size,
maybe that
wouldn't happen,
but with the
250 ETH,
the gas fees
still don't
really cut
the,
yeah,
essentially,
we're just
receiving
slightly more
yield now,
and also with
less
maintenance,
because we can
just leave
its stakes there,
Yama,
we did not do
anything,
and,
actually,
I think it's
Marshall,
I don't know
if you remember
the exact
values that
we've earned
so far,
but,
yeah,
it's really
in light
with the
proposal,
and,
yeah,
sorry,
go ahead.
I think it was
around 10%,
and it's
barely unstable,
I just wanted
to put it
out,
it's quite
nice APR
thus far.
yeah,
yeah,
yeah,
yeah,
definitely,
yeah,
thank you,
it's exactly
that,
single-sided
USTT
is always
nice to
have 10%,
and I think
we're pretty
happy about
that,
and,
but yeah,
we're monitoring
it closely,
so that,
if anything
happens,
we'll create
a governor's
proposal,
to maybe
adjust it,
if ever
necessary,
but,
for now,
don't believe
that that's
the case,
but yeah,
anyone can also
create a proposal
for that.
Yeah,
chat also
asked the
question,
we go one
more time
through how
the new
Maya will
work,
in V2,
if there are
any staking
rewards,
they will be
essentially
airdropped,
like any
Uni Maya
fees,
they'll either
go for the
trade,
go directly
towards the
treasury,
essentially,
retroactively
be airdropped
to the
users,
and,
essentially,
all the
rewards that
you will be
actually claimed,
and that
will not go
through this,
essentially,
there will need
to be a
governor's
proposal,
to distribute
any of the
rewards that
I just
mentioned,
but,
when you
have Maya,
you'll be
able to
claim the
gauges
utility token,
the Hermes,
or B Hermes
utility token,
that gives
you access
to voting
for gauges
and earning
bribes,
and that's
where the
baseline staking
rewards will
come from,
so Maya
is essentially
a Hermes aggregator
that,
with its
post aggregator,
the amount
of the gauges
utility token,
or the voting
utility token,
that you can
claim,
increases over
time,
instead of
yourself just
using your
B Hermes
to add
liquidity and
accumulating more
Hermes,
Maya lends its
boost to anyone
that wants to
use its
Talos positions,
and takes a
fee from that,
because Maya
has a lot of
B Hermes boost,
and it's very
similar to what
Convex does,
and as a Maya
staker,
you'll be able to
claim these tokens
and then vote
with them to
earn bribes
and fees.
I hope that
was clear,
please let me know
if you have
any questions.
Yeah,
just received it,
Anima,
accepting it right
now.
Perfect.
I see you
unmuted,
but I still
can't hear you.
Is it just me?
Yeah,
we can't,
at least I can't
hear Anima as
well.
I can't hear him
as well,
I don't know.
Yeah,
no rush,
take your time.
Yeah,
please share it
with us so we
can address that.
If I recall
correctly,
that has created
confusion,
a section
that has created
confusion in the
past.
Hey,
hey.
Hey.
I can build on
top of the
question of
what Jet
asked about
Maya.
The specific
question I had
was,
it's basically
two-parter.
so what will
happen with
Maya that's
still on the
old staking
contract and
the Maya that
doesn't get
migrated to
Arbitrum
specifically?
Will this just
stay indefinitely
so people can
always migrate it
or withdraw it?
Or can we
decide something
after maybe
a year or
two years?
What is at
least in place
right now is
for everything to
be available for
migration and
the way the
supplies themselves
will be managed
it will work
kind of like a
hard fork.
So simply
on Arbitrum
the V2
tokens will
exist but
everything that's
deployed on
Mities will
continue to
exist simply
with no
functionality or
utility.
Okay okay
yeah that
basically answers
my second
question because
yeah the
B Hermes won't
be updated or
something it will
still be the
same the share
of the that the
Maya tokens
represents in the
B share if
everything gets
hard forked
right?
Yeah well
essentially every
V Hermes will be
one-to-one
in Arbitrum as
B Hermes.
Yeah okay and
the Maya share
also stays the
same because
essentially the
whole supply will
get okay.
Do we have
yeah just a
security question
because I think
so if we hard
fork every Maya
all that Maya
will be in a
contract that
could be a big
single point of
failure of course
do we have
do we have
enough security in
place that
that's
there's like
obviously it
won't be like
sorry not
obviously so what
will happen is
imagine if you
have your Maya
stakes you'll
receive proportional
to that so if
you essentially
receive proportional
to your S
Maya even and
it's the same with
liquidity if you
have if you're
adding liquidity
with Maya
essentially you'll
be able will
will pause the
AMM you'll be
able to withdraw
liquidity but
that Maya that
you essentially
receive from
removing liquidity
well it will be
worthless you
won't be using
it so or you
won't have any
utility with it
like you can
stake it but
there won't there
won't be any
staking rewards
and etc so
a really short
way is
everything will
be essentially
mirrored in
arbitram so
if you if
it's in for
example multi
see we like
we people can
reach out to
us and
and say that
for example
prove that they
actually own the
multi see and
request it to
for another
address for
example so
yeah we're
aware that
some yeah
there's some
cases that's
not as simple
as just
putting it in
the same
address or
just allowing
the same
address to
claim it
in the
well yeah
in arbitram
yeah for
example LPs
will lead
you'll receive
as the
same LPs
that the
same amount
of Maya
that you
will withdraw
your LPs
after the
AMM is
paused so
no more
swaps will
be able to
happen
we'll just
be able to
remove the
quidditch
okay and
does it also
account for
you for
Maya
Maya
because I
get will
freeze the
Hermes
pulls like
he said
but we
also have
an Hermes
and Maya
pull on
don't we
also have to
freeze that
if we make
that migration
we can't
freeze
Maya
and a few
days before
or probably
a week
before we
the migration
starts
we'll let
everyone know
and we'll
let everyone
know before
but we'll let
everyone know
so that they'll
remove liquidity
from Uni
Maya with
time
and well
as a DAO
since we
can remove
liquidity
just before
the snapshot
happens
we can
well
can do
that
well in
a simpler
yeah
the DAO's
liquidity
yeah
there's not
really an
issue with
that
okay
yeah
it's pretty
important
to communicate
this in
advance
of course
because
else people
won't be
swapping
the useless
token
as you
as you
okay
okay
yeah
from what
I understand
yeah
we've
hard fork
all the
Maya
so basically
all the
Maya
and Arbitrum
it gets
minted
it's already
minted
it stays
in a contract
like that
right
so everyone
migrates
burns
their
Metis
Maya
the contract
gives
the Arbitrum
Maya
or Hermes
for example
right
is that how
it works
with the
migration
yeah
you won't
need to
burn it
you'll just
claim it
in Arbitrum
yeah
okay
okay
but it's
already
there
it doesn't
have to be
minted
that's
yeah
yeah
okay
okay
okay
yeah
that answers
my question
thanks
I think
Jett already
had a
question
maybe
maybe
I did
question already
yeah
so the
question is
about
essentially
yeah
we really
need to
rephrase
that paragraph
so in
in short
terms
like you
always be
able
if Maya
a hundred
V Hermes
there's
like 10
Maya
essentially
you'll
always
one Maya
will always
like
grant you
10 V Hermes
regardless of
how many
Mayas are
staked
in short
like if
you have
10% of
the supply
you'll be
able to
claim 10%
of the
utility tokens
and even
if you are
the only
one staked
so like
if there's
only 10%
staked
that 10%
won't grant
you access
100%
of the
utility
tokens
essentially
what the
governance
proposals
can do
manage
that
what
like the
utility
tokens
that
will
that
belong
to the
unstaked
Maya
so like
if only
is staked
that means
of the
utility
tokens
can be
utilized
by the
instead
of the
Maya
stake
don't know if
you want to
read
yeah I hope
that was
thanks
by the way
thank guys for
the question
answers
yeah I think
also for the
question
I don't know if
want to
rephrase it
Bugsy or if
it was clear
enough Jet
maybe yeah
completely
completely okay
to just
I believe it
yeah I
believe it
was quite
clear but
yeah Jet
if any
issue remains
please do
do ask
yeah I
think it
I think it
was okay
he just
answered
yeah
okay
exactly
like
the DAO
will always want
for example
have certain
allocation to
its own LP
and yeah
that's a way
to kind of
ensure that
because
well in a
realistic scenario
100% of
Maya will
never be
staked
so there
will always
be some
rewards
directed to
key ecosystem
pools
and yeah
that's kind of
a way to
ensure that
true but
having it's
essentially a
less it's
less flexible
since like
you'll need to
go through a
governance proposal
to change those
votes so
yeah there can
be essentially
a change but
it's it's not
really the same
as you just
getting the
utility tokens
and voting for
whatever you
want but
yeah it's
still the
same people
the holders
and the DAO
yeah for
example as a
DAO we should
want to have
as much
liquidity as
possible and
that's kind
of yeah
what we
yeah what
yeah we
should appeal
to as a
community
Yeah, I just want to say they're not mutable, sorry, they're mutually exclusive, so, yeah,
we can definitely add liquidity in Zendivided as well.
We have around 50% of vHermes, but, yeah, this is not accounting for Hermes itself.
So, yeah, there's more Hermes as well.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
As a DAO, I think we should just go for whatever is best for it.
Just going for bribes and not having liquidity, it's just overall worst.
So, yeah, if we ever do too many bad decisions, that will reflect and have a negative impact.
Yeah.
Yeah.
Yeah.
Yeah.
The opposite is also the same.
If you do good decisions, good things will come out of it.
You too.
Yeah.
Yeah.
The original production.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah, one of the auditors
Has been SIG
This week
So they're going to add a few extra days
At the end
But yeah, other than that
It's still set for more or less
That date
But yeah, one of them has the flu
And yeah, to be fair
Yeah, it won't be one or two weeks later
But yeah, it's probably just a few days
So yeah
Yeah, we actually shared our thoughts on MIP27, Roland
So yeah, as a whole team
Yeah, we don't really support it
Removing half of the project liquidity
It's not healthy
Putting it shortly
Yeah, it's
Yeah, we don't really see it as something positive
So yeah
Yeah, we
No, it's just saying
Yeah, we left some messages today
In Discord
Yeah, also reflecting this
So yeah
Essentially
Yeah, we don't really have much liquidity
And yeah, comparing ourselves with other projects
Like we shouldn't only say, for example, MIPI's liquidity on MIPI's itself
Most of its liquidity is not here on MIPI's
And yeah, just trying to
It's also based on a highly speculative idea
That because of the possibility of a 10x
Which should just remove all liquidity
That's not really healthy to the project
Price discovery is something really important
And less liquidity we have
The worst it gets
Yeah, we just
Yeah, we think that it should be based on
Hard facts
And not
Yeah, just saying that it will 10x
And even if it does
Having liquidity there
Is not
Is arguably a good thing
Yeah
Even with impermanent loss
As a DAO
It even makes sense
That a stash will take it
Especially because we are in the low range
Of our LP
With Maya
Essentially adding liquidity
At a higher price
Will be
Wouldn't be that good
Maybe if we were on a half
On a 50-50% of the range of the LP position
It will maybe be a wiser decision
But since we are at the low end
With more Maya than ETH
If we just add it
Higher
We might just risk it
Being out of range
It's also nice
Not the best timing
To maybe change this
When
Another possible approach
I believe we talked this on Monday
On the AMA
Could be
For example
Maybe removing 20%
Of the
The DAO's LP
Maybe shifting the ranges
Putting it wider
So there's less impermanent loss
Yeah
Removing percent
Removing half of the
Of a project liquidity
It's
It's really hard to argue
That
That it's gonna be healthy
Yeah
Yeah
Yeah
Thanks for the
It's hard to say
Because we'll have a boost aggregator
With Maya and Talos
So it's possible that
It will even increase
Yeah
It's really hard to say
That
We're gonna expect
To increase
Or decrease
Or even stay the same
Right now
Yeah
We're not really adding liquidity
We do have essentially
The Maya's gauge
But other than that
We only receive
Rebases
Rebases and that
So it's
After V2
We'll
We'll probably see
At least
In net
In a perspective
Net Hermes
That we accumulate
It should be higher
Than what we have now
But it might still be lower
Than
Like the overall
All other projects
Yeah
We'll definitely have ways
To accumulate more Hermes
Than we're doing
At the moment
Yeah
It's not
Extremely easy
To say
That from a year
After
Launch
Maya will have
More or less
Percentage
Of V Hermes
Or B Hermes
Than it has now
And just to continue
On Anima's point
I do agree
With what you just said
It's a fact
That we have
A 50k volume
That seems
Perfectly
Likely
For daily volume
The only thing
That we're saying
Is that
Reducing
Even further
The liquidity
Conditions
For our assets
Will create
A less
Hospital
Environment
Logically trading
You can also expect
Volume to be affected
By the available liquidity
There's a correlation
Between both
This is
Well known
Yeah
It's also
A less inviting
Environment
New players
They'll
Essentially
Have a lot less
Well
They'll be able
To enter
With a lot less
Yeah
It's
Yeah
It can have
A really
Negative impact
The foundation
Is that
This is going
To be good
Is highly
Speculative
It's
Yeah
It's
Yeah
It's
Yeah
It's hard to argue
Even
If it does go well
It's
In-depth
Zero edge
But yeah
At the end of the day
That's
That's really
What matters
Essentially
If right now
You get 1%
With
You'll get
It's
Yeah
It's not really
That good
For new
And existing
Players
Also
Yeah
What I said
About the range
Yeah
It's definitely
Not that good
That if we
Actually add
Liquidatine
A higher
Higher value
Yeah
Won't be
Able to
Support
A lot
Yeah
Maya turning
With
Because
The position
Right now
Is mostly
Maya
Yeah
Yeah
I think
What you said
Zero edge
Is that
Also
I think
It would
Be really
Important
We were
Like
Trading
This
Maya
In fact
Well
Lping
Obviously
Is trading
We are
Not really
Looking
Capitalize
This
Maya
On a
Higher
Price
Think
Anyone
Should
Incurring
This
Implement
Loss
Should
Makes
More
Sense
Yeah
I do
Agree
With
There
Seems
Some
Upside
Possible
Downside
Higher
It's
Very
Very
Very
Risky
Play
Opinion
As I
Said
It's
Really
More
Than
That
Example
Percentages
Current
Position
Also
Take
Into
Account
It's
Just
Removing
Liquidity
Trying
Avoid
Really
Yeah
Simple
Yeah
We're
Gonna
Remove
Liquidity
We'll
Probably
Decrease
It's
Probably
Won't
Have
Won't
Have
Surge
APRs
That
Will
Make
People
Unimight
Their
Under
Thing
That
It's
Yeah, all liquidity won't be gone, so it will essentially it will be migrated to
Arbitrum Yes, the same way that new people can also
want liquidity in Arbitrum.
Yeah, it's a really risky proposal in our opinion and if everyone did the same, the project
wouldn't have any liquidity left and it would have a very bad implication.
Yeah, I'd just like to kind of reiterate what I think was one of the most solid points that really bring attention to also the negative sides or possibilities like the worst case scenarios or negative outcomes that may be, well, boosted or bolstered by this proposal, this liquidity structure change.
Us removing liquidity at the bottom of the range would mean that if effectively the scenario that is being proposed in this as the base for this proposal, so the possible event of a 10x,
you will not be able to re-add liquidity and actually provide any significant support for liquidity or trading activity.
Particularly, we'll have a lot of difficulty supporting the sell side particularly, so it makes it so that DAO is not as useful at ensuring, well, base conditions for everyone in the ecosystem.
Everyone wants to trade in and out of their assets, which, yeah, and a lot of the arguments are used really well.
They are logically based on market behavior and which, if you think about it, generally works better with large numbers and larger number of participants,
which honestly is not the case for protocols currently, also due to the chain where we are, which also has reduced conditions of liquidity and users, so it's also tough to use some of the logic that's being used to support this proposal in this particular context.
But then again, I completely understand what is being said and why it's being said, I just think that in practice, the odds of it going bust are much larger than the upside.
Yeah, thanks for the input, Bugsy.
Yeah, in short, yeah, regarding liquidity, essentially we have an almost single-sided position and regarding liquidity at higher prices,
this is, yeah, it most likely will be detrimental to our position, so it will be easily out of range in the future, so, yeah, it's a lot safer and better overall to at least not remove all of the liquidity,
So, yeah, right now 90% of the position is Maya and we only have 10 ETH in the position,
So, yeah, essentially it can support 10 ETH of selling and right now it does support a nice price movement, but, yeah, it can be really reduced as we move up the bonding curve.
And I just want also to say that, yeah, this is assuming that we actually do what the proposal is saying. If we don't, it's just a really bad move overall. We're just shutting doors to new users.
Okay, let's do all of this, yes, we will see these new malaria come.
So, next, there we go over QI, so we have 10 ETH of bulletins in the stock, so maybe you have to finish an idea with the solid standards over 200.
No, we don't have to plan the value of the stream, but we don't have a good example.
But before relould rain, let's see if we get a little further layer that comes up.
What we have to do is when we take time to get right now and have a little bit too long, let's see if we find a meaning in place because we should be getting close Genau of course that we could plan them before 100.
And we use something with the 특별 Brainieriorn, to my new users.
I could take some of the Attorneygenitor, we just care for using our filters.
Because we need to wait for more questions.
If that is the case, then removing liquidate even makes less sense, so we can just leave
it as it is and earn more fees if there won't be any price movement.
I don't know if there are any more particular points you all want to discuss.
If not, we can continue the MIP27 conversations in its chat on Discord, and anyone who isn't
up to date can also drop by and read, and also, more importantly, the proposal itself.
But yeah, let's see if there are any more questions, because if not, we'll continue.
We have a couple more meetings this afternoon, and we also have to get back to work, but I
believe this was an available discussion that some nice questions were actually made over
the course of this AMA.
Yeah, I do want to say, Anima, that you need to take...
No, no, sorry.
So, it's like, we either have a lot of... I don't... I think the only way that we'll ever
do a 10x would be with new users, and if there aren't any new users in Mities, then it's hard
to argue that it will 10x, so we won't incur that impermanent loss.
And, but yeah, it's... This is very, very, very speculative.
So, and yeah, that's one of the reasons why we can't really support the proposal.
It's because there's no really hard fact to support it.
But yeah, I think we let...
It kind of relies on active treasury management when specifically these positions and everything
that's gated by several weeks of governance makes it tough to stay sharp and stay ahead
of potential launches when it comes with directional and bold bets like this.
But just to reiterate, we do understand the two sides of the coins.
We logically understand what you're saying, that the EL would overcome the generated fees.
But yeah, it's also worth noting, on the other hand, it's the DAO's position.
IL isn't realized unless... Yeah, it's not real, unless you do realize it.
So, yeah, there's also that side. There's both sides of the coin that should be considered.
And yeah, like we said, let's carry on this conversation on MIP27 on Discord.
Yeah, thanks for the roundup, Bugsy.
So, see you around, everyone.
Hope you have a great week and we wish you a great weekend.
And yeah, thank you for showing up and for all the questions.
And thanks guys for being here. We'll see each other next week.
Bye-bye, everyone. Bye.
Bye!
Bye!
Bye.
