So how does everybody with a cake MN feel about

not having a vote on the up coming Proposal?

Quick contexts:

- It is believed that dUSD being at a premium will, in a marketing prospective, hurt DeFiChain….new users won’t adopt the use case of dtokens with such a high premium on a stable coin, and same with existing DeFiChain users.

- because of this, a solution was proposed to make dUSD stable (which I won’t go into detail here) but the solution needs to be approved by a the MN in a proposal vote…. Because of it being a marketing issue it is suggested that it should be a rushed voting round… (with in 72 hours)

- now with a rushed proposal it would help to give clarity to the dev team and the community on what direction we will be heading into in terms of the issue at hand, also the dev team does not want to do all that work for it to be rejected down the road, so knowing now is better….however, the trade off is that with a rushed proposal of 72 hours, Cake masternode holders would not be able to participate because of… “logistic reasons” (it was not really clear as to why but either way Cake can’t do it that quick)

If we wait about a month then all Masternodes would be able to vote.

(I encourage everyone to listen to todays twitter space when they release it on Spotify, very interesting… a lot of people had great opinions on both sides)

There going with the rushed (72hr) proposal because they believe that is the majority sentiment of the community….

🤷🏻‍♂️maybe..

My question is:

Is one month wait really worth not giving all masternode holders a voice on a decision as big as this?

PS if you run a masternode independent from Cake then please make sure to read the upcoming proposal and vote!!

I honestly don’t know what the sentiment of the community is on this specific issue…. But I don’t think it is right to not let everyone who is able to vote have there say because of perceived time constraints.

So what is the synopsis of the proposals going up to vote? Is it a clear apple vs bannana solution? or is there a myrad of solutions and folks will vote for the best one?

It will be approve it or not. Only one proposal will be voted on.

So what is the proposal?

I am curious. Why do you like that DUSD will become over time uncollaterized?

That’s definitely A fair question… they did address a lot of the concerns of the community in the Twitter space, but one of the main takeaways is that this is just a quick fix for now (a few months) they believe that most of these problems will be fixed once futures trading is implemented this year….most of these fixes right now are for optics …… no exchange or person wants to pay $1.30 for something that is supposed to be $1…. In that why I do believe they are right.. however, I don’t like not having a voice with so much skin in the game.

regarding the concern that ppl won't pay 1.3 for 1 DUSD... a lot of volume coming throu cake right now speaks a different language. Actually DUSD is at 1.26 exactly because so many ppl are willing to pay that to get in.

I think that might be because of the high LM rewards, not because of the actual intended use of the token…. I’m just trying to view it from the perspective of a potential investor who has no idea what DeFiChain is….some who just hear they can buy TSLA as crypto, and if I went to an exchange an saw dTLSA (or any other dtoken) trading for 1100 when stock price is 950 I would say “what” and move on…. I believe the masses wont care why, or if it economically makes sense, they just want 1:1 (or close enough) to their counterparts(real stock prices) With that said, I do fear we might be moving a little to fast for optics. I think the community still needs to digest the problems and solutions.

That is also why I believe it is important to do this short term. Personally I wouldn't mind waiting a few more months but many new investors are left with too many questions when they notice the price differences.

Too I think we should think longterm absolutely about so many ideas.... But we have to do shortterm something NOW I think middle of January could be to late for big investors... We get NOW so many promotions at YouTube and so on

We must decide: Do we want a system for average users or for economic/IT-experts? The average user need dUSD = $ and dTSLA = TSLA (at least nearby). They don't care about technical or economic background. They see a bis difference between stock markets and crypto and will not invest. The marketing machine is obviously about to start as far as I can see. So we need a short time solution. Then we can still think about a better solution long term.

100% agree. If we put too many new investors through this roller coaster I could see the entire project implode

+

Well said

totally agree with you 👍

FYI: https://twitter.com/julianhosp/status/1471806458467700737

Thats great news!! Thanks for sharing Andreas… I think It was really important for cake to do this, and I know the community will appreciate it 👍🏻