Welcome to a comprehensive review of the 17th episode of the DAO Watch series, titled “Redemption with Benefits”. In this episode, we delve into the world of cryptocurrency proposals, covering four major projects: Dash, Pivx, Evmos, and a special guest – Friends with Benefits (FWB). Let’s evaluate each proposal based on their merits and potential issues.
Dash: Reverting CoinJoin back to PrivateSend
The first proposal we analyze is from Dash, a cryptocurrency known for its focus on privacy and speed. The proposed plan is to revert CoinJoin back to PrivateSend. CoinJoin is a method used to make transactions private by combining multiple payments from multiple spenders into a single transaction, making it difficult for outside parties to determine who paid whom. However, the proposal suggests renaming it to PrivateSend to make it more user-friendly and understandable to the public.
The benefits of this change include no longer running from regulators, but there are potential downsides, like the risk of more delistings. Despite these risks, the proposal is seen as a step in the right direction for Dash, which has been struggling with its image as a privacy coin. The proposal is seen as a way for Dash to confront its privacy concerns head-on, rather than trying to hide from them.
PIVX: WhiteBIT Trading Competition
Next, we move onto the Pivx project and its proposal for a WhiteBIT Trading competition. WhiteBIT is a rapidly growing exchange that could potentially rival KuCoin in the future. The proposal involves taking 30,000 PIV (a type of cryptocurrency) and using it for the competition, with a prize of 5,500 PIV.
The goal of this proposal is to boost volume and visibility for PIVX. It’s cheaper than previous proposals, and the proposer is gathering momentum. Despite concerns about wash trading and the integrity of the proposal’s proposer, the idea is generally supported as a good way to attract new investors and increase volume and liquidity.
Evmos: Building a Derivatives Exchange
Our third stop is the Evmos project. The proposal is to build a derivatives exchange on Evmos. Despite it providing another use case for EVMOS DAO and coming from a respected team, there are obvious legal ramifications and the fee is quite high.
The proposal is well-written and the speaker thinks it is a good idea for a good exchange. However, there are concerns about it being a derivatives exchange. Despite these concerns, it is seen as a good use case and complements other developments in the industry.
Friends with Benefits (FWB): Setting Up a Legal Wrapper
Finally, we have a special guest proposal from Friends with Benefits (FWB). The proposal suggests setting up a legal wrapper. It’s good to have a legal entity, but why base it in the USA given their current stance towards crypto?
The proposal involves two individuals, David Kerr and Kyle Wandler, managing a legal wrapper for a project related to Dow. The proposal suggests that they will register the DAO, obtain an EIN, and provide legal tax guidance. The conversation also touches on the pros and cons of a DAO becoming a legal entity in multiple jurisdictions.
The speaker believes that it is important for DAOs to interact with the real world and that DAOs should become a legal entity in multiple jurisdictions if possible. However, the speaker expresses concern about the hostility towards crypto in the US and suggests that the organization should have sub-jurisdictions and allow sub-DAOs to register in different jurisdictions so that they can jurisdiction shop and have more freedom.
In conclusion, this episode of DAO Watch provides a comprehensive analysis of several cryptocurrency
proposals, from the reversion of CoinJoin back to PrivateSend in Dash, to the establishment of a legal wrapper in Friends with Benefits (FWB). Each proposal has its own merits and potential issues, and the discussion provides valuable insights into the world of cryptocurrency.
The Dash proposal, for instance, is seen as a step in the right direction for the cryptocurrency, despite potential risks. The Pivx proposal, on the other hand, is viewed as a good way to attract new investors and increase volume and liquidity. The Evmos proposal is well-written and provides a good use case, but there are concerns about it being a derivatives exchange. Finally, the FWB proposal is seen as important for interacting with the real world, but there are concerns about the hostility towards crypto in the US.
Overall, the episode provides a comprehensive analysis of these proposals and provides valuable insights into the world of cryptocurrency. Whether you’re a seasoned investor or a newcomer to the world of cryptocurrency, this episode is a must-watch for anyone interested in the future of cryptocurrency.
Stay tuned for more updates and insightful discussions in the world of cryptocurrency. Until then, keep exploring and keep investing!
Disclaimer: The information provided in this blog post is for informational purposes only. It should not be considered financial or investment advice. You should consult with a financial advisor or other professional to find out what may be best for your individual needs.