How to increase the VALUE and UTILITY of Shiden and Astar tokens? Unite Shiden and Astar with one brand and create one token for two networks in a long term. 1SDN = 10ASTR

Shiden Network (Kusama)
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How to increase the VALUE and UTILITY of Shiden and Astar tokens? Unite Shiden and Astar with one brand and create one token for two networks in a long term. 1SDN = 10ASTR

2023-05-18 12.52.16
2023-05-18 12.52.161920×1068 131 KB

Shiden is not superb now! What is the future of Shiden?
Let’s make it clear Shiden is very low active for now and the core team has no plans to make it great again. At least even I, as Astar Ambassador dont know these plans. It’s a pity, because I care about ASTR and SDN. I think it’s time for the community to take care of Shiden and take the situation into the community’s hands.
I thought a lot about the ways to solve it and consulted with top influencers and activists of the Astar and Polkadot ecosystem. I think a systemic mistake was made, and we can do steps to solve it.

Kusama dilemma and BIG mistake.
There were two options for projects which started as parachains on Kusama two years ago , first to build the networks with one token for Kusama and Polkadot or make two different networks and two brands with different tokenomics. I always was for the option with one brand and one token, because two different networks are competitors and it makes it extremely difficult for the community to accept all these tons of duplicated networks. Bifrost and Phala, where me and my teammates were ambassadors and consultants, accepted my arguments and chose two networks under one brand and one token for two networks. Others like Acala , Astar , Centrifuge and many others made huge mistakes and built two different brands that they can’t handle qualitatively.

I think it’s time for Shiden and other networks in the same situation to discuss with the community and tokenholders the future steps.

Here are at least two options we can solve the problem with Shiden.
1. First option is to change SDN to ASTR tokens for holders from the treasury in some proportion and close Shiden for good.
Advantages - fast solution, only one token , most of the Shiden community will be happy to go to more valuable ASTR tokens.
Disadvantages - no representation in the Kusama ecosystem, the work that is already done will be lost, the damage for Kusama ecosystem.
So this is not the best option.

2. Second option - make two networks as one allowing easy change of SDN to ASTR on both sides, so the functioning of the two networks will be operated as Phala or Bifrost network. This concept is more optimal… Transfer the SDN into ASTR on Kusama after some time. So the ASTR token can become a multi chain like - EVM/ DOT/ KSM.
Advantages - we still have representation in the KSM and DOT ecosystem and keep the work already done, the ASTR and SDN tokens both increase its value , because of synergy and unity.
Disadvantages - we need to make decisions about the unity and vote for terms.

Here is my countings for the second option:
ShidenTotal Supply - 79,781,590
Astar Total Supply 7,926,644,105
If we take the Kusama value 1/10 of Polkadot value the same for Shiden/Astar proportion, 1SDN = 10ASTR

I think it will be fair to change SDN to ASTR , in 1:10 proportion. It can be executed on Shiden Parachain, rename it to Astar (Kusama) and add one zero for all accounts. It will add ASTR to circulation but it will add only 10% , but make ASTR multichain token valuable on Polkadot and Kusama both. EVM and WASM smart contract developers can use both networks and earn one ASTR token in the Kusama and Polkadot ecosystem. They will be interested in integrating with both chains.

Conclusion.
I think Shiden as an independent network and brand was a mistake. I told it from the beginning, tried to change it for the better with my team as much as I can.
I think the situation is absolutely clear for anyone in the community. Even Parity and Web3F mostly give up with Kusama (no XCM connection to DOT, no allocation of DOTs to govern by Kusama council as discussed a couple years ago, no support for teams planning to start on Kusama , issues with governance and so on ). They are focusing on Polkadot mostly.
So the second parallel ecosystem is fetters on the legs especially in bear market. Bifrost, Phala and some others did it right. Acala, Astar, Centrifuge and many others made a big mistake to start parallel networks and 2 different brands.

I want this message to be seriously considered and discussed by the community, Astrar core team, ambassadors, and all the community members. Let’s discuss this point from economical, technical and ideological sides.

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After reading this message, I wondered if this was built out of the ShidenDAO community. It seems no discussion has been made there. It might be good to involve that community in your proposal.

Currently, we are opening the channel with Picasso and Composable. This will make all tokens from Shiden interoperable with Astar. With cBridge you can already transfer your wrapped SDN to Astar for use on Astar Network.

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It’s such a nice idea , but might require some level of technicality and expertise

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You propose to break the ASTR tokenomics. ASTR already has a lot of inflation, and you are proposing to add 800kk tokens to the ASTR issue! This would break the existing tokenomics and greatly accelerate the issuance of new tokens at the expense of inflation. I think we need to discuss this issue!

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Distributing ASTR tokens to SDN holders at the ratio of 1:10 means that we will have a very huge selling pressure on ASTR. From my perspective, your proposal means diluting ASTR’s value and making the price lower. How could you prevent it?

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The only way for Shiden to be successful is to start building it.

Shiden works as a permissionless blockchain and it is now a DAO. Why not let the DAO and the holders do something about it?

  1. Form the marketing, bizdev and community teams.
  2. Each team is responsible for their own KPIs.
  3. Each team member can be incentivized for their own achievement.

Shiden can have its own narrative. It doesn’t have to follow Astar.

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Shiden has been dead for a long time now. The daos discord is a ghost town there is no activity there. Except for folks asking for their KSM and maybe some delistings from dapp staking.

The only good thing that happened in the last 12 months was the lucky dapp…

Astar got a lot of candidates for the sony program not one for shiden even from the ones not selected.

Maybe it’s time to make the funeral.

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I agree that there is not much activity on Shiden or ShidenDAO but I think we have to give it a chance.
I personnaly plan to build on Shiden and Astar. I hope the dApp Lucky will be the first of a long series!
Shiden is good for the builders to learn and experiment new stuff.
Shiden is now a blockchain driven by the community, it means it’s up to the community to participate and to make live.

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@AlexPromoTeam you initiated the thread, could you share more about how you see this moving forward? Should the community take the initiative to drive this or what are your thoughts?

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I regrettably agree with that Canary is dead. Lucky is only dApp in $SDN.
And it meens *** is also about to d***, sorry about that.
We need more participants, and more discussion.

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I see there is a problem with Shiden that not helping Astar developing and grow. I decided to discuss it publicly because I didn’t see any plan, but I see strange decisions like crowdloan no-rewards, ShidenDAO without real power, no-utility, increasing split of two networks, negative impact on Astar.
Shiden governance and code is under control of core team, it is still not driven by the community, so final decision on core team.
I gave my suggestions and options that can help in my opinion and wanted this topic discussed.

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Thanks for your clarification.

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Isn’t it the team’s wrong decision that led shiden into a DAO in the first place? The investors didnt ask for this… should have at least some what of accountability from the team…

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Seems that the only rational against joining the two tokens are the price impact on Astar which could be mitigated with a vesting mechanism.

The option should at least be considered and if the decision goes against the fusion, a strategy and a moat should be defined for Shiden.

Why should someone today choose Shiden over Astar, for instance, to deploy an app?

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Also when accounting for the tokens that would be migrated, the ones alocated to marketing, ecosystem growth and protocol development could be left behind. That would account to 25% of shidens tokens

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i hate the 2 token model of parachains more than anyone. its very shortsighted and early adopters get rekt for the use of experimentation.

That said, it’s not really feasible to go back and undo it once the ship left the port. Astar has to fix it current tokenomic model not introduce more breaks to the system.

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