Looks like a healthy 4% of the community are voting for this as it stands!
3 Likes
Hey, I’m a bit out of the loop — just curious, what’s the reasoning behind this? Is it related to some stakeholder priorities? I always thought healthy competition helps build better products. Do you feel this is the best direction to go?
It’s just that there’s been a lot of shenanigans behind the scenes with Sonic. The founder has left, the app doesn’t work, and then you’ve got the whole Bitfinity mess, which seems to be a VC-backed way to disrupt the ecosystem (before it pivots away).
The Kong UX is a million times better, so I think this is a win for the ecosystem as a whole. I’ll block all treasury withdrawals till this happens so it’s basically wither on the vine or make yummy wine (that rhymes)
5 Likes
Thanks, I get the logic. This doesn’t seem like something on the surface or just technical — it feels more like internal politics and behind-the-scenes stuff.
This is nothing to do with the swamp, well theyre sort of swamp-adjacent because of Bitfinity. It’s just that im sick of bad UX.
2 Likes
Its just a motion proposal and result has no impact on anything. Borovan seems to have lot of funds in KongSwap too?
Anyways, Sonic can be taken over overtime, just give it time.
Yes kongswap.io is the best
I dont like Kongswap because they have 1 questionable person there. After seeing Borovan and Jordan being big supporters of it too, i better dont touch it. I stick with ICPSwap, even on Swaprunner i pick only ICPSwap pools.
At the end of the day we invest in people, not to apps itself.
Agree that.Sonic team already disappeard
Don’t let Adam and Jordan remove you from the best dex on icp.
Icpswap has its own set of problems and lies they push.
Go with the better product that is delivering at a faster pace. That is Kong swap
1 Like
Who is supposed to perform this work? Is this just an idea you are throwing against the wall to see if it will stick or have you already given consideration to how it should be executed? Would this be a hostile takeover from the Sonic team or is it something they support as well? What does the KongSwap team think about the idea?
I thought I’d just see how the proposal goes and and play it by ear.
1 Like
How much of the voting power that voted to adopt do you directly own?
I don’t know the Sonic team position on this, but given that one of the main developers decided to leave the project it seems plausible that the Sonic team could support the idea. Of course, that would be more ideal than a hostile takeover type of situation.
Regardless, it’s an interesting idea. My opinion on it would definitely be influenced by what the Sonic and KongSwap teams have to say, so I hope they decide to comment. It would be nice to hear someone talk about how it could be executed from a technical perspective.
Where will this “bonus” kong token come from?
dwka6-vtbfw-c6h7z-zwr5o-togu7-d5md2-qlji5-we6m3-rsub6-ikhxp-2ae
ljxsi-5du4w-3se32-vba6v-dd543-rrj3g-nayx2-f7xhd-o4u7a-ycmxw-bae
between these two wallets he contributed ~30% of the total sns sale. Im not sure how much he kept staked though.
It looks like he has his neurons as they didn’t mint any large amounts of tokens while he also accumulated more recently and added to his holdings.
I think its safe to say adam is close to his 51% attack on sonic.
It’s more of a hug than an attack
2 Likes
Sure, even though I wouldn’t mind seeing this happen and the liquidity being less fragmented. I do not agree with your tactics.
Also if this tactic does work where do you see the “bonus” kong coming from? I imagine this would get you close to a 51% “hug” on kong swap while also returning your icp invested from sonic. Any insight into this?
1 Like
It can be faster, if i remember correctly, doing swap it said done or completed, but tokens arrived a little later. Anyways, ICPSwap next upgrade will make it same fast or even faster. As i dont hold any of those DEX-es tokens, so i dont have any reason to promote any of them. Swaprunner right now and ICPEx soon will offer cross DEX swaps anyways. If sonic can keep running cost very low, than it can survive a long time (ICPEx platform will soon offer swaps from 4 DEX-es). It will be hard to buy any of DEX own tokens as they actually need to reward somehow token holders (ICPSwap does it, not sure in any other does it).
ICP swap method of rewarding users is not sustainable. Kong has prediction markets which gives value to the token outside of governance and kong will be the first dex to break into sol.
ICPswap will likely never be reliable if they increase speed due to the way they built it. And icpswap routing is clunky and outdated. As well as icpswap is built to allow bots to steal from users as they copy pasted uniswap code base into icp.
1 Like