I am not sure how many people have read the BOOM DAO whitepaper and I have to admit that I had not until quite recently. There is something that I noticed that caused great alarm for me and I feel I have to draw attention to it.
Staking ICP as 8-year Neurons
BOOM DAO is planning to create a proposal to stake a significant amount of ICP as a BOOM DAO 8-year neuron. This neuron would participate in NNS voting by following a BOOM DAO beacon neuron, which would seek to influence the IC’s governance to align with BOOM DAO’s long-term goals of advocating for the ICP gaming ecosystem at large. The neuron would also earn voting rewards for the DAO, which could be used to cover ongoing costs or build up a reserve. However, this plan depends on whether a small but significant change is made to the IC to allow canisters to control neurons.
Unless I am understanding this incorrectly, Boom DAO are saying that they will only stake for 8 years if they have the ability to then sell the neuron?
Dfinity have already said they do not want a neuron marketplace, and I agree with the reasons why. It kind of defeats the whole purpose of locking up and showing your faith in the community.
If Boom DAO really intended to lock up for 8 years, why are the funds they removed from the treasury only locked for 6 months? Waiting for that bull by any chance?
I have been wary of this project ever since they made a bogus announcement about working with us, but their recent behaviour is raising red flag after red flag.
I do not benefit in any way from their downfall, I actually hope I am wrong and this isnt a blatant scam. It would be great to bring more games (and therefore more players) into the IC ecosystem. However, scams and rugpulls bring nothing but bad publicity and make people less likely to invest in real projects going forward.
Once again we are not working with BOOM and never will.
I strongly advise you to avoid this project and the Boom token.