Even if I did buy the tokens, I would be blocked to pass the proposals like Adam was, I’m trying to have a productive discussion around the current problems and how we collectively could make it better, your right, this is why ICP suck, and my opinion and approach is let’s fix it together, yourse is, you see the problem fix it yourself, that’s not how a decentralized network functions
You do realize Adam was able to drain all of these sns projects right?
Not sure what proposal he was blocked from passing. But there is a great example of him blocking nfid dao from passing proposals.
Adam was the biggest investor in all of them, and if he didn’t invest, probably 80% wouldn’t have even gotten to the threshold point to pass. If anyone tracks his wallets, then they should be able to verify that quite fast. Why does no one talk about Boom DAO, Beedle, and so on, those who drained their treasury and simply left?
The ICP he took from some treasuries was worth just a few bob compared with his investments.
For anyone concerned, don’t worry. Adam doesn’t care about ICP anymore, so breathe easily.
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This is correct
You realize that he was the biggest money provider to most of them right ?
He bought more to have control over his investments which ultimately also didn’t deliver, and again he was put as a “bad” person for trying to solve issues in his own ways, you may not agree with the way he did it, but you also didn’t recognize him providing
Tons of liquidity for all projects in IC
Supporting builders
Getting projects over the line in the SNS where not many knew about him being that big of a investor
So yes, I do realize he blocked and had DAO wars with some projects like I lined out above, there where no mechanism to protect the teams from such scenarios, but there where no mechanism also protecting investors like Adam from teams that just drain treasury’s and leave
Those are the core issues we are facing, would love for you to suggest anything you think should be done differently or provide a better solution than I outlined above @Mico
Sounded like you were saying he was an innocent bystander who got blocked by bad teams. Even though he drained treasuries as well as voted to allow others to drain treasuries as well.
Btw in case anyone forgot Adam was able to send himself all his icp back from the boom dao treasury after he tried to mint himself more sns tokens. He isn’t a good example of a leader to praise
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If you’re going to tell stories, you should tell the whole story.
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Yes, the battle that started from a hostile takeover attempt. Anyways happy halloweeen
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So if Adam doesn’t care about ICP anymore makes it ok? What about the regular investors that got ruined by his actions?
Clearly neither you or him care about the regular folk who were most impacted by Adam attacking SNS projects.
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I agree, hostile is somewhat implicit in the word battle. happy halloween to you too.
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Ya Adam rugged everyone who followed him and bought the tokens he said to and then followed his neuron so he could send himself the treasury of the daos.
Can you show me ?
Because I’m unaware of this
Secondly, I like to point to the facts that we are swaying off topic here and diving into old stuff that doesn’t really help
Can we try to focus more on how we can prevent such situations, and potential future proofing the SNS system to prevent them ?t
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Thank you for the detailed review. From a theory and academic perspective the SNS shares the same issue we often face in Venture Capital. When I managed the family office from 2019-2022 we had the same issue, high valuations, high burn rates, terrible hiring policies, no go to market and execution. The spray and pray method used in vc, is kinda of used also in the SNS. I’m saying this because those sns problems are not inherent, they are norms in startup world, a little amplified here because if decentralization and lack of governance practices. I have personally found since 2022 that venture studio models are much more efficient which is similar to what dfinity is actually doing now especially with caffeine. So my recommendation is turn the sns into a venture studio with a well known playbook that every venture has to follow, cheaper metrics for everyone, repeatable with same operators and overall saves funds and lowers burn rates. I think it is very reckless at this stage of ecosystem development to just spray and pray. And at the end of the day, we have to recognize that every early stage venture has a much bigger change to fail than succeed, but with better processes geared towards venture building this could be significantly be lowered(with lower costs)
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Don’t bother; they’ll spin the narrative as they see fit. I guess it’s easy to say Boom DAO failed because Adam took ICP from it (or a hostile takeover) and not because Boom DAO was the first to create a proposal and started draining the treasury, and everyone started complaining. After that, it was the fiasco @WebTreeSoftwareSolut described in his forum post.
I never cared or invested in most SNS projects(except a few notable ones like OC, kong, ics) as most were trash and I wish Adam didn’t as well but he really wanted to support the community. You know he’s the biggest investor in OC, Kong as well no? and yet they continue working as they have amazing products
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I’ve posted this so many times. If only people went through the treasury transfer proposal and sns token mint proposals during this time.
Here is Adam sending himself 11k icp from the treasury with 100% vp just prior to boom dao rug.
He put in 10k to boom do sns and took out 11k.
Did that pretty much with all the sns he took over. Go check for yourself it’s all on chain.
Yeah that’s a lie.
Anyways go look at the sns proposals. I showed one of them. He took the trax treasury as well as every other dao he took over. Pretty funny if you say he didn’t when the proposals all passed by him
You can say whatever you want. Except I posted the proposal of Adam sending himself treasury funds as a refund. So at lest I posted the proof Dexter asked for.
Btw Adam hasn’t launched a single thing in 6 years…. And just shut down his main project, after draining all the treasuries. Not sure but smells like a rug pull just finished.
Right. Because Donna says so we just just ignore all the icp they took from treasuries! Got it.
The last time, I love the passion from you @Mico and @Freethrow34 but let’s refocus on trying to solve an issue rather than waging age old battles / questions that have no value or will help here, is a all agree that the current system isn’t functional and has some improvements to do,at least from my understanding of the topic and the discussion,
Secondly I notice that always when we sway off topic or get into useless arguments and discussion @Mico you’re always at the center of those discussions either starting them or poking other with comments that you know will start such a discussion
Last time I ask you to just stay on topic, too much noise is happening and this will land again in the pile of nonsense with no value posts, if you have no such intentions please just leave or mute the posts in this thread, as I’m trying to put my energy efficienntly towards solving issues, I have spend around 2-3 weeks collecting my thoughts, writing them down, going over ideas, etc over the last 4 months which I have presented at the top, if you respect my time, please just stay on topic and don’t make comments that you know will trigger reactions, if you can’t help yourself please just don’t engage as this creates more and more noise
@Leadership next time this happens I just need him to be blocked from this thread, thanks
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Did you not like my reply to this?
It would serve you well to go through the treasury transfers of these daos to see how they spend their money and who is initiating these drains. It should give a much more clear picture to a core issue with the sns framework.
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