I love your pseudonym, but I’m not in the habit of trusting Unholy Lizards, hahaha! David Icke was right! Lol! @UnholyLizard 's perspective is VITAL for all of DeFi to hear, understand, and accommodate. If this first explosion of DeFi turns out to be a “bubble”… then it will have been because market-makers losses popped it and liquidity runs dry. That’s actually what caught my attention about Sovryn in the first place was the DAMM innovation. It is certainly not sustainable for Bitocracy stakers to profit from the losses of Market-Makers in AMMs. That model fails so quickly when liquidity dries up and then Bitocracy stakers sell-off because you can’t run a DEX with no markets. But how do stakers even sell if there’s no more market-makers? Sovryns must remain a unified front which democratically rewards the respective risk taken & utility provided by each aspect of the platform… Thor, Loki, and Odin. We’re not trying to create “equal outcomes”, we’re trying to correctly value and reward the respective risk and utility of actions taken on the platform.
So I’m with the Lizard Peoples on this one. I’m “OKAY” with treating the Bitocracy stakers and market-makers equally for this $FISH sale, but I think we need to do something separately to recognize market-makers. I wish the Bitocracy stakers who aren’t staking the AMM could really understand the certainty of IL which market-makers (like me) willingly and knowingly accepted in order to help grow the platform and make the first market. So yes, I’m okay with equal access for FISH sale, but I do think we should issue a rare NFT to our V1 SOV market-makers. We didn’t make “bad investments” or “wrongly evaluate the risk-reward potential of Market-Making”. We literally said, “Ok, we’ll hopefully break even in order to help the platform”… and then because so many market-makers showed up and diluted down the rewards, I don’t think any market-makers will get their SOV principal back out of the AMM.
So, it’s right and correct that market-makers like me are seeking recognition and fair treatment from Bitocracy stakers (also like me). I allocated about 50% of my SOV to Bitocracy and 50% to AMM, and I’m still participating in both. I really do really want to see Sovryn community approve a SIP to commemorate the first SOV market-makers. Maybe it’s something like a space badger planting the SOV flag on the moon. I don’t know, but it would be nice to see that this community understands and appreciates the value and sacrifice of our first SOV market-makers. If we don’t show appreciate now at the beginning, we risk losing liquidity and loyalty. If we issue a rare NFT, it costs us very little and has potential to dramatically offset the heavy IL V1 market-makers are taking for the team. Just my 2 SOV… Thanks for your thoughts, Lizard! I guess man and reptile really can live together in harmony.