by 0x521b0fef9cdcf250abaf8e7bc798cbe13fa98692 (Kyllian)
Linked Draft Proposal
Revoke grant “Decentraland X Powered by Decentraland”
Summary
Revoke the “Decentraland X Powered by Decentraland” grant due to lack of information, refusal from the grantee to answer questions in public and fails/scam in other projects.
Abstract
This poll is to revoke the grant “Decentraland X Powered by Decentraland”.
The grant is trying to deploy a “Decentraland Native DEX” which is just an outdated version of Uniswap.
Alex is venting the benefits of it and that it would bring a lot of money to the DAO.
But when asked how he plans to achieve that, and when presented with the math about it, he avoids the question and answers with empty promises and no concrete plan.
Sending a part of the fee to the DAO would require either of those two options:
Increasing the total fees for each trades, making it less attractive for traders
Increasing the percentage that goes to the DAO rather than liquidity provider, making it less attractive for liquidity providers to add liquidity compared to Uniswap
Neither traders or liquidity providers would have any incentive to use this DEX and the tools he promises could be done on top of Uniswap instead of a Decentraland DEX.
The DAO should focus into adding liquidity to existing pools rather than creating new ones.
Motivation
Alex still refuses to answer the questions in public, he tries to get 1-on-1 talk with anyone that voted no to the grant and voted yes on this revocation but when asked in public, he gives half-baked answers without any concrete information and full of empty promises.
Specification
Alex and his team have been caught asking 30 ETH to deploy a token (what usually cost a couple thousands USD max) then “messing up” the code which lead to a “random” person making 100k USD by selling this project token.
SolidityIO should not be trusted. Even less with an exchange that might hold millions of USD in liquidity.
Impacts
Save the DAO 64,000 USD
Implementation Pathways
Revocation of the proposal by the DAO Committee
Conclusion
Alex is an influencer, his job is to sell overpriced stuff to people who don’t need it by making false promises.
This is exactly what is happening here, overpriced grant for a tool which is not actually needed by promising amazing returns for the DAO.