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 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.
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.