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NetaDøcs

May 14, 2022

[Notes compiled by envy##9950]

Current

Core-1 Still waiting on Max responses. Ultimately comes down to, “Can we realistically expect any involvement in NETA development whatsoever from Core-1 as a whole or any one member in the near future and if not (or if there is no clear consensus), how can existing social media accounts/websites/etc. be modified to reduce onlooker confusion and create a better working environment for the NETA community?”

DAO Testing

  • working on deploying NETA single DAO app (SDA) for testnet - same type of separate website as RAW DAO
  • start getting back into DAO testing under this new structure - won’t need to evaluate infrastructure security as much in a walled garden environment

Grid Trading Bot

  • continuing backtesting, paper trading and bot templates available on Cryptohopper
  • LUNA/UST related pairs now not an option but we can trade between anything in any ecosystem as long as we can move it around
  • pair needs to be a sideways trend with enough divergence to cover gas fees for selling/swapping (not a pair too flat or else the gains are blown on gas)

Chart Listings

  • if other CW20s tokens are listed with stats on sites besides CoinGecko, those chart sites have added to their codebase to pull in stats - should just be able to supply NETA’s contract address and start getting results
  • Gecko is the only place that has CW20 prices; CMC primary concern, others not so much just because of size
  • JUNO itself missing market cap on CMC
  • should be simple enough to supply the NETA contract address, but if they haven’t built out their sites to integrate with CW20 tokens, they may need to work with Core-1
    • unsure if Core-1 supplied anything to Gecko for NETA price to function (ex, RPC endpoints, API info)
  • CMC can’t be pulling from Junoswap - is CMC pulling price from Osmosis pools since they came first?
    • wouldn’t account for arbitrage between DEXes

Arbitrage

  • more DEXes will forming on Cosmos and will each have their own pools
    • as portfolio sites will be slower to move on making code changes to pull in data from these DEXes, NETA DAO could work with new DEXes to onboard them into a listing area of token prices across Cosmos DEXes to view arbitrage until larger sites can ingest the data
    • IBC-based DEX arbitrage bot?
      • could operate similar to some functions of Yearn.finance, taking advantage of market inefficiencies

Community

Twitter Activity (28 day summary)

Tweet impressions: 242K
Profile visits: 190K
Mentions: 393
Followers: 4,033

Identity/Branding

  • a fundamental misunderstand of what NETA is - the contract was executed, the community is building from the ground up, none of its creators are explicitly driving its progress
  • many people holding the attitude of “devs, do something, make us money” - this is our project
  • unique circumstances - other DAOs could spawn trying to do the exact same thing but the parameters would already make it different
    • conditions of NETA’s birth (no presale, no strings attached) make it more transparent and community-aligned
  • even if no development were to happen, price appreciation would happen due to scarcity and speculation
  • DAO aiming to drive sustainable value over speculative value
  • prime ecosystem branding - LPs on both major DEXes, no other token has a bot in the JUNO channel
  • having a project with recognition in an ecosystem to use as your own sandbox is a blockchain dev’s dream
  • need community to provide meaningful contributions - just sharing posts, talking about it, or sharing thoughts on how to progress is meaningful

Mark Cuban Tweet

What we have not seen is the use of Smart Contracts to improve business productivity and profitability. That will have to be the next driver. When business can use Smart Contracts to gain a competitive advantage, they will. The chains that realize this will survive.

  • problem for adoption/recovering from bear market is people not seeing use beyond speculation

What could be done to bring on businesses or others not only to crypto but bring them specifically to NETA/JUNO/Cosmos ecosystem?

  • “community accelerator” not only to facilitate building but developing of communities, onboarding new arrivals to crypto with visible use cases
  • adjacent to AKT gives us a lot to work with - onboarding businesses deploying websites on AKT?
  • Anchor was seen as a “holy grail” of stable yield at 20% - ex, a bank could have opened a high-yield savings account at 5-10%, would have been a way to attract people
    • provide businesses a means of doing something cheaper, faster, with more control than traditional solutions
    • use crypto standards to augment real world services - adoption has to begin with meeting target market demands, often still very traditional
    • providing the service will stabilize the money aspect - poach people from tradfi or web 2.0 infrastructure into decentralized options, with that comes the stable money
  • less desirable but still advances things: if decentralized tech does well and is acquired in part by centralized actors who drive it forward
  • how can crypto extend access to larger actors while keeping them on the same playing field as ordinary people? how to preserve that balance?

Community Accelerator

  • alternate interpretation: accelerating development of communities by connecting people working on similar projects (ex, JUNO onboarding LUNA devs)
  • curate an environment and create a space for people to gain value, create value, to share value - take pre-existing ideas and give them a new home - combine similar missions
  • may not be fast but once the ball starts rolling, it doesn’t stop

Value Tier System

  • people in tradfi know what investments are but people in crypto largely don’t - people believe they’re doing one thing but are actually doing another: buying crypto thinking they’re investing, functionally day trading, but the intent is closer to gambling
  • people not knowing what they’re doing or not being honest with their intentions causes or worsens many of crypto’s problems
  • if you’re pulling something out in tradfi within a year, you’re not investing, you’re trading - proper “investment” lasts many years; crypto has an accelerated time table because of 24/7 markets and new technology but people’s actions outside of BTC/ETH largely aren’t scaled proportionally
  • people will bring this mindset with them as they approach NETA - you don’t turn into a SoV by day trading or speculative gambling, a true SoV is an investment by tradfi’s definition
  • for NETA to match its stated blackpaper purpose, whether the SoV is concrete in preserving purchasing power or abstract in facilitating development, it needs to be a long-term design
  • cement with NETA the distinction between investing/trading/gambling

How do we secure long term value when many participants in the asset class think in the short-term?

  • begin with first principles (SoV, scarce entity) and the concrete, then abstract out - first the functional part, then the relational part
    • if it’s a SoV, we must do everything to support that use case
    • outside of the functional aspect part, for long-standing value in a system, everyone participating needs to feel like they’re gaining value from participating in it
    • “Mechanisms that Create Value, Appreciate Value, and Distribute Value”
  • when NETA Trooprs mint is complete, the NETA community will have empowered and generated funds for an artist, got a marketplace paid, drew attention to the marketplace, created a fund for a DAO to continue building, and connected people - all from coming together and saying “let’s do something”
    • if all we did was function as an NFT platform, we would be able to do this on a large scale to build a fully functional ecosystem and develop a community - all from just one category of initiatives
  • operating on first principles makes it easier to both function among participants who tend to think short term and allows NETA DAO to set itself apart as a group that operates on a larger timeline
  • we don’t necessarily have to sell people on an extremely long term aim, but have multiple levels of abstraction and depth (see CA paper tier lists)
  • psychological play: if we have consistent rolling short/mid-term projects, this will give people the thrill of trading/gambling while still staying under NETA for the long term
  • put forth items that satisfy the desire for excitement but also have a “slow burn” factor to contribute to the long-term SoV purpose
  • can engineer the outreach you want to target with each initiative to get what you want: planning timeframe, profitability, complexity of building, participant involvement
  • “if something is heavy, it’s slow” - a company in tradfi heavy in price/market cap that one would invest in is slow to move at a macro level - fast and loose is for startups and day trading/gambling

Structure

  • descending scale, complexity, and fluidity: goals/vision, strategies, tactics
    • military - tactics are for short-term and contribute to a strategy, strategies are means of achieving a goal
  • another lens to visualize initiatives: look up and down the structural heirarchy
  • “how does this initiative empower/accelerate actions at the individual level? the small group level? working group level? community level? token? chain? ecosystem? asset class?”

Future

Contact:

  • Maxjuno - answers will solidify our next steps

Do:

  • explore development on a Single DAO App (RAW DAO’s structure), work with DAODAO on bug fixing
  • continue backtesting for grid trading bot and evaluate
  • develop concise general mission statement and our core purpose as well as individuals’ perspectives

Remember:

  • @Tardigrades_NFT expressed interest in working with NETA - explore in the future