Feedback from DFINITY for better quality Proposals

General DFINITY
1

Dear ICpeople

Intro
I have been watching the space for some time now and I realise that there is one single big problem leading to poor quality proposal : its fuelled by fear.

The problem

People are effraid

About ? Safety/Security/Sustainability

This is a non exhaustive subjectively ordered list of fears:

  • Dfinity running out of money
  • The protocol being too dependant on Dfinity
  • How hackable is the chain ( Malicious NP )
  • Competitors will win the race
  • How decentralized is the chain
  • ICP going to 0$ with VC selling
  • etc…

*Consequences *

People are using the new NNS Toy to answer those fears. Writing clumsy/incomplete/short term proposals to try to tackle some possibly non-existent threats. Or even bad intentioned proposal using those fears to make it pass.
Example :

  • Adding constrains to be a named neuron ( 2 weeks, THIS forum, blabla, fooor what ? )
  • Adding contrains to be a NP ( Why would we need this here and not btc ? Are we worse ? )
  • Lock VC neurons for 8 years / Unlock VC neurons ( Breaking investors faith )
  • Trying to transfer funding value from NNS to pay an external entity. ( here is my IBAN )
  • Reduce/Stop ICP inflations/rewards ( Breaking investors faith )
  • etc…

The thing is, Dfinity probably already addressed all those questions and know the answer. If the NNS is supposed to be able to make some critical smart decisions, it would be necessary that we are also synchronised with those informations.

I understand that displaying some informations to the public could have a bad effect, and I also imagine that if it was necessary, we would already be informed about any short term protocol concerns/threats. Yet I tends to imagine a bit more information to reassure people would be useful, for example to prevent some people to use those fears to pass unhealthy/short term proposals.

  • The solution Communication *

An official answer from Dfinity to some of the following critical questions would remove or diminishes those fears and also reduce those type of proposals ( while building up investor confidence ! ) :

State the following information :

  • How long can Dfinity work at its current working pace, financially ? How long can it work at a reduced pace ?
  • How much money would it cost for a Malicious actor to take control of the network using superior NP power ?
  • How far is the closest competitors from Dfinity from R&Dev perspective

Disclose the protocol to follow if :

  • Dfinity happens to be bankrupt, to let the protocol survive

And the state of the process to :

  • Decentralise over time the place of Dfinity from main critical actor to first most knowledgable entity to provide service for the protocol. ( I might be dreaming but imo at some point there should be a numerical representation of Dfinity and its members, and the NNS would be making direct changes from investment direction, recruitment processes, answering legal needs etc… )

Any thoughts ?

Do you think I am crazy to imagine that there should be a protocol ready if something goes wrong ? Should it not be all specified somewhere the same way a president death isnt supposed to make a whole country collapse ?

Do we have a sturdy Maslow pyramid of dependency specified and available, illustrating the protocol needs and mechanism to survive ? If tomorrow keys actors of Dfinity disappear are we gonna make it ? Please note that if this concern is answered, it removes pressure on Dfinity personals.

Thank you for reading.

Lots of kisses

Nicolas.ic

3 Likes
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Alright this silence is not cool, lets try to get an easy answer answered.

First some hypothesis :

  • CH Dev are probably getting payed around 200k / year
  • Dfinity has 300 Devs
  • Dfinity had 223M to pay builders on Mai 2021

Thats 60M$/year, sounds a lot and I am not even mentioning expenses like project funding/rent/etc.

We are looking at 2 years treasury minimum left if he only pays his team and lets say other expenses are negligible.

Then there are ICP that Dfinity is holding. 100M ICP.

Lets say they are stacked and are used to pay for his team with the condition above.
Lets fix 8 years stacking reward at 15%. What price should ICP be to make this sustainable ?
15/100*100 000 000 = 15 000 000 ICP rewarded each year

So with the above conditions, 4$ / ICP is about enough.

Seems kinda sustainable. I expected worse :wink:

According to my home made, undisclosed super smart curves and forecasting ability, we will have as a minimum around 10$ / ICP in 12 months.

Alright, wagmi

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This concern has been obliquely addressed in other topics.

1 Like
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This is probably the relevant post:

FWIW, DFINITY has been hiring like crazy so I don’t think financing is a concern in the short-term. Also, they announced a $220 million developer grant more than a year ago.

1 Like