Kain_niaK:
Why not on the farm and pool page allow every person with xmist to vote for or against a farm or pool? The xmist that is available for the vote here needs to be average out over a number of snapshots, like once a day with 31 day rolling average. This would then mean that new pools can not become farms unless they get voted in. And existing farms can get vote out if they accrue to many votes against them. This dynamic means that people will constantly need to hold some xmist that they can't sell or their farms might get voted out. The algorithm can still be used for the allocation but mist/bch is fixed at 30%. It will lower the BCH/mist liquidity but as now more and more people with mist will put it in to xmist to have a vote. However this can get fixed by increasing the mist/bch fixed allocation above 30%. So we would still have a time counting down to the new allocation, but also a page that continuously shows how all the xmist is divided in votes for or against a pool or farm. The only thing that needs to be established is a ratio between votes for and votes against. If this ratio is high enough for a pool it can become a farm. If this ratio is low enough for a farm it will go back to just being a pool. This will change the dynamic a lot. Before you can get free mist from your farm, you need to have saved up enough xmist to vote your pool in to a farm. If you try cheat the other farms by wash trading to much you could risk them turning against you and voting you out. Every month you can select a poor or farm JUST once and use a portion of your xmist to vote in favor of it or against it. You can divided your xmist over the pools/farms for or against as much as you want. But once your have locked your xmist towards a certain pool/farm you can not use this anymore untill the next montly cycle. And if you buy more xmist, because of the rolling 31 days average it only gradually increase your voting power.
It's not 30 times a month
you have a rolling average of voting power based on your xmist holdings averaged out of the last 31 days with snapshots every day at random times
you can use that voting power to vote for or against. Every time you vote, that cost you voting power. Once you run out of voting power you have to wait till the new reset date
So in the beginning of the new allocation you could use ALL your voting power to vote for your own pool and then you can't vote anymore till past the next allocation
you have to provide some liquidity so it shows up on your pool page and then you can vote on it
After a while the top pools that have accrued votes would show up
so everybody can vote for them or against them
the only thing that would need to be determined is the treshold in ratio
However a single big enough mist holder will find it easy to protect his own interest
as the rest of the mist would be devided
but if a farm pissed of to many people then if everybody groups together you can get rid of it
Vin:
Like I said, our purpose is only to find tokens who wash trade for MIST allocation for a primary portion of their income.
I have no interest in having a big ban-list. I think a dex's purpose should have the ability for tokens to trade between them.
I personally will be checking each token for a website, image, how many unique holders vs dev holding, and how often they wash trade... but I will not spend my time doing it if the vote does not pass. 🤷♂️
I am 1 member, and all 5 must agree to each token. We could all have different "standards" but it does not matter - the purpose was made simple and clear in that link, on the proposal. (Which, I already pasted in this chat earlier)
im_uname#100🍋:
copy pasting from discord for a recap:
For a well-distributed token, assuming infinite liquidity (no slippage), a washtrader spends 0.30% in fees each trade - 0.25% to other liquidity providers, 0.05% to xmist.
For a token entirely owned by one entity, he'll own all the liquidity as well. Therefore he only pays 0.05% to xmist for each washtrade - the 0.25% goes straight to himself.
This is where the 6x (0.05 / 0.3) advantage comes from.
Hamza S:
In that case it seems this 6x advantage only exists for 100% token holders and becomes smaller the more holdings are diluted. I guess if we could know with near 100% certainty how many individual non collaborating parties own a token we could use that info...but since accounts are anon i guess theres no way to determine this
im_uname#100🍋:
i mean, to be entirely honest, there are only two parties with any powers whatsoever in mist.
- kasumi
- mist/xmist holders
#1 kasumi is trying to figure out the best way to give power to #2. other people's opinions are all just suggestions, if they can't convince mist holders they don't matter.
to be entirely fair to frn, literally all tokens on the upcoming page was washing ("protecting trading" lol) except flexusd, cats, law, bpad and eben. the deer was shot a long long time ago.
OliCrypto:
Naturally, you are not like AxieBCH. And never be. AxieBCH has hundreds of players behind itself, which earn BCH monthly from playing P-2-E games. AxieBCH has partnerships with many blockchain games. AxieBCH own digital assets of both active and upcoming games. AxieBCH onboarded more people on BCH / SmartBCH than you have wash trades for your token.
The fact that you make "web site and roadmap" didn't mean that you are like AxieBCH. Show me what your token can do, what purpose it has besides of buy low - sell high and then you May be be like AxieBCH.
Rowan Skye:
hold on a minute, why are you complaining about business practices on a DEX chat? Like, seriously, AxieBCH's business practice is essentially of a gaming guild that pays their users and their token holders
OliCrypto:
I doubt this person is AxieBCH holder. He might be a short-term speculator. Otherwise, he would easily find all the answers in our groups.
Rowan Skye:
well, that business model is called "keeping afloat by any means" and with the current competition on the 30 farms, until the fake projects get drowned away/banned it looks to be a good temporary measure
im_uname#100🍋:
in reality the entire debate between all these teams can be cut down to something very simple: "i was told i can 50x my investment by investing in washtrading on mist. how can you give 50x free-money for that guy over there and not for me?"
nobody is innocent.
Ethelred:
First we will implement ads system and use profit to buy back FRN. We are planning to have a gambling system in the future, which use FRN. Our NFT will also can be bought by FRN
You can check our white paper, please take a look since you’re challenging our project
OliCrypto:
AxieBCH did protective trading in past AFTER openly informing MistSwap community that we will defend our farms in this way.
We decided NOT to protect-trade this re-weighting, though we see that the problem is not solved, and bad actors became even more aggressive, also in developing "fake use cases".
If we lost our farms at MistSwap, we will be disappointed... but not more, as basically MistSwap reward premiums are very light parts of our revenues, and we are on MistSwap mainly because it is #1 SmartBCH Dex, and as we have a policy "only 1 DEX approved and recommended", we advice Mist only to our users - at the moment.
If we lost the farm, we will replicate it on another good DEX, within a week or two, and move our liquidity there. While in financial sense this is nothing for MistSwap, we are not that big - I believe in image sense this can be a significant loss. In terms of onboarding new people, social impact on local communities, importing value from other blockchains to SmartBCH - AxieBCH is one of the leading token at SmartBCH.
If it is replaced in the farm list by another professional wash trader, even "advanced one" - will MistSwap won of it? Doubt so.
Yes, you are doing exactly what I predicted monthes ago.
But to disappoint you, you are not the first in this 🤣🤣🤣
STO was the very first MistSwap wash token who developed "fake use case".
You are doing basically the same.
That's why Spam Committee is probably the only viable way to prevent & revert this.
"also" is unnecessary word, all the rest is true.
AxieBCH was one of the first projects who institutionally - on behalf of the legit project having the farm, not just a person - opened the discussion on unfair farm rewards distribution affected by bad actor projects. It was here in Telegram.
After we got Kasumi vision that protective trading is not prohibited, we started protect our farms. We were never happy on this, as it is huge waste of time and resources.
After the theme got enough attention by community, we stopped protect our farms, and are not planning to do this anymore.
Instead, we are negotiating with other DEX to move/remove our liquidity.
We keep being big fans of MistSwap, but this all became a bit too toxic.
$GAME will leave MistSwap almost 100%, and $AXIEBCH 50/50.
So EVE and FRN - feel free to grab our rewards share 🤣😜🤣
Hope it will not be taken as "keep arguing" but rather as on-topic matter.
We still love MistSwap and appreciate all the work made by Kasumi 🥰🥰🥰
Gradual removing 1 or 2 our farms from MistSwap (maybe within a couple of re-weighting periods, not immediately) is a decision motivated by rising levels of uncertainty and toxicity here. Unlike professional wash traders, we have a lot of other things to do.
Love you all from the bottom of our hyper-agression 🤣🤣🤣
mist-discord-bridge:
OliCrypto:
Now I explain you in three paragraphs why touching AxieBCH was a bad decision from your side.
@bmjc98 | AxieBCH Discord user is building the house of her dreams because of being AxieBCH player.
our player Jersy, the only provider for his family, father and husband, re-built his house destroyed by tropical storm, because of being AxieBCH player.
Our player Zennn opened her small store in her native town because of being AxieBCH player.
Our player Jiroshin has a serious medical issues, and now he can get a quality health service because of being AxieBCH service.
So you created a token, added to MistSwap, created a couple of "pixel NFTs" in free online pixel generator - and you think we are the same?
No, we are not, and never be.
When you will be to show 1% of what we have already done - not for yourself, but for your holders and your community - than we will talk the same language.
bmjc98 | AxieBCH:
Oh, thank you for the mention, gramps. Indeed, AxieBCH has helped me fund my house and I will always be grateful for that. Then here comes Pegaxy, provided by the same guild, AxieBCH, I know I can finally complete the house in no time. So yes, both AxieBCH and GAME aren't just tokens for me but they are more than that.
bmjc98 | AxieBCH:
No, dont worry, we are not here to cause any trouble. We are just here to show our support to the guild that helps us a lot. I am not just a scholar, btw, but I am also a small-time investor and bullish for these 2.
Anyway, let's all be in peace. Spread love, not hate.
OliCrypto:
Yep, because they can lose money, which are their primary source of income, and on which they already count on 🤣
These people see milking MistFarm as a legit business model, so they think that voting harm their interest (and yes, it harms).
This is the problem: milking MistFarm should not be a primary source of income. Unfortunately, algo can not judge of it. Only live people can.
If the Committee activated - yes, it is true.
If things are left as is - this won't work.
Milkers can roll all the time with new tokens before they are voted to be removed. Again, you can even create a batch of tokens in advance to avoid suspicions: look, we are legit, we have been created 3 monthes ago.
Botting TG group is cheap and fast.
Create the web site is also not a problem.
And then they go to MistSwap and start wash trading.
When they removed in 1 or 2 months - they just activate new tokens.
Looks what's gonna now with $Kitten.
For legit medium-size tokens it will be much easier to negotiate farm elsewhere.
Eventually, MistSwap will turn to the 5-6 biggest pairs and a roll of constantly changing milkers tokens.
If this is the way you see MistSwap - well, we see it different.
That's why we need Committee with the widest allowances ASAP.