Thank you. I understand. I think it would be ideal to participate in official Dapps staking. I support the proposal to allow participation in Dapps Staking from CEX.
I totally support this idea. There are several reasons that holders in CEX couldnât participate dapp staking.
- It is less likely to occur, but wallets are possible to be hacked by someone.
- Some nations have their own rules to transmit coins to other abroad CEX or wallets. Sometimes itâs very difficult to transmit.
In addition, I think Upbit is the best CEX to apply this idea.
- Some CEX has a chance to be bankrupted. There have been several rumors even Binance, gateio that many holders use. However, Upbit is regulated by Korean government severely.
- Considering Astar community, there are numerous Korean people that have interest in blockchain and coins. It will be very effective to increase Astar holders by developing staking in Upbit.
Thank you for reading my opinion.
6 Likes
This upcoming integration would be one of the best ways to enhance the visibility of the dApp staking towards crypto industry in general. And it is indeed great news for the entire ecosystem, particularly for users who are secure their assets on CEX and/or for those who are looking for simpler/easier ways to stake even with fewer clicks. Important points are already clarified the discussions up to now, highly look forward to seeing this integration happening.
3 Likes
Great idea
One possible solution would be to first conduct a pilot on Upbit in Korea. Due to wallet issues, this will be limited and should not be implemented on all CEXs. Korea has a large user base so it is the best place to observe the impact on Astarâs TVL and market cap.
1 Like
Totatlly support this aswell. Do we have a list of exchanges which already support dApp Staking and which will be first partners to implement it in the future?
Agreeing with @Maarten that we should first focus on making it possible to stake with every big CEX, even if its on one dApp. If it is always a different dApp or we find some kind of other solution should be another post I guess.
1 Like
We know that centralized exchanges have millions of users, applying Astarâs programs in these exchanges to promote Astar is something necessary for its growth, I think it is a very good proposal.
1 Like
I donât quite understand this. Is CEX going to offer staking to a dApp or to a place of its own name? Or will it allow users to stake directly to a project from within CEX?
I donât think it is necessary to allow users to choose who to vote for when participating in dApp Staking from CEX.
The reason is that there are so many dApps listed on dApp Staking that it is difficult for users accessing from CEX to understand each one.
It is unreasonable to ask CEX users to do something that is difficult even for the community that is usually active on Astar. Education is necessary.
Therefore, we believe it makes the most sense to unify the votes from CEX to Community Treasury and turn the revenue generated there over to UCG.
Or, as Maarten recently commented, it may be possible to use a proxy contract and use it directly like a financial resource at UCG.
2 Likes
I donât think CEX will be listed in dAppStaking (I am not on favor of it).
I think if users stake via CEX, they will stake on âAstar Core Contributorsâ or âCommunity Treasuryâ dApp, depending on the proxy contract setting.
1 Like
Got it. Thank you.
Yes it makes sense, but we should still give users the freedom to stake wherever they want. I mean not only to AstarCoreC. As @you425 said, it requires training and it will be challenging but we should give them that freedom.
There can be two options;
a-) User wants to stake through DEX. AstarCore prefers C./C.T.
b-) The user wants to stake through dex. He/she chooses other places (Ecosystem projects tab, DEX user can explore it and stake to the project of his/her choice).
All my doubts have been answered by the questions of my colleagues, I can only say that I am 100% in favor of this.
Also, I like the approach of You425, it is totally correct.
I loved reading everything that the community treasury has contributed to the ecosystem, letâs go for more!
1 Like
Of course, I understand what you are saying.
While it is important to be able to freely choose the staking destination, I think the system and educational cost issues are very real.
Also, I donât think users who would like to staking from exchanges would be that motivated, so even if it could be implemented, I predict that it would not be cost-effective.
There would also be running costs for dApps listings and delistings.
Conscious stakers who want to be free to choose where to stake will probably access the Astar Portal themselves to stake. I think it would be good if CEXâs dApp Staking could act as an entrance to get people interested and then guide them to the Portal.
3 Likes
Gm! Please tag me in further questions you may have around this! (just getting back from touching real grass haha)
So far there is lots of great ideas shared and I will kindly remind all readers that the initial associations/collabs with CEXâs could be more of an introductory level staking. This would be intentional as first impressions on new users (in a space full of tokens) is important. So starting simple could help.
Involving tiers, and some of the deeper features of v3 could be either too complex for a new user and/or not of interest. But thats not to say it canât be grown in that direction if we see interest and demand.
So imo some of the best approaches - to start - is simple staking and having both the CEX and community benefit, hence the Community Treasury route.
4 Likes
I really find myself agreeing with @0xRamzâs approach, and just as @you425 mention here, clearly what you are looking for at this point is to get a massive influx of users, users are people and people like to cut down time when it comes to making money (thatâs why there are so many scams nowadays, because we donât take the time to study hahaha).
Definitely the community treasury is an excellent point to nurture because it effectively contributes to the growth of the ENTIRE ecosystem, from marketing to supporting new projects that, in the end, will attract more users and so on.
LFG!
2 Likes