Hi @pithecus
Thank you for the well-thought-out comments. I’ll write down my reply to each your questions below
- It appears that this proposal might be more appropriate for the dApp staking V3 rather than the UCG program. From my understanding, the UCG program is to attract new builders on Astar Network. You and your team (based on the Discord role from the three projects) already have demonstrated substantial expertise, contribution, and experiences with the three dApps – Starlay, Kagla, and Muuu Finances – on Astar EVM since 2022, indicating strong familiarity with the Astar Network ecosystem, though you are now with new concepts and new members in the team. FYI, C14 recently got listed on dApp staking, where the team has developed AstridDAO and BlueZ (see C14 - dApp Staking Application ), which is very similar to what your team is planning to do in terms of listing.
I believe we are an appropriate candidate to apply for the UCG since the motivation of UCG is the following according to the attached UCG slide on the 3rd page. We are a mixed team including new developers to Astar and the existing member that are building the cutting-edge technology of tomorrow.
“The Astar community - which includes its users, dedicated Ambassadors, and core team, seeks to make Astar Network the premier innovation hub for blockchain technology, while simultaneously onboarding and supporting new and existing developers that are building the cutting-edge technology of tomorrow.”
- Could you elaborate on your marketing strategies to attract users both within and outside the Astar Network ecosystem? What is your target DAU for Neemo Finance?
As mentioned above, this will be a major milestone. Through these milestone, we plan to approach both within and outside the Astar Network.
- dApp Staking v3 adaption and Improvements:
- While the structure has been described above, we plan to adapt and further develop it to optimize for dApp staking. For instance, one potential improvement is in our dual staking model. As mentioned earlier, if the amount of Voting period is below the amount of Build & Earn period, we miss out on bonus rewards, resulting in lower returns. To address this, we are considering adjusting the balance by allocating ASTR from our treasury to ensure the amount of Voting period does exceed the amount of Build & Earn period. This allows users to achieve optimal yields without locking their tokens. We will continue to develop and optimize our structure to best suit dApp staking.
- Defi Legos and Mass Adoption:
- Developing DeFi legos like leveraged staking, and also considering to develop stableswap vaults, and integrate with yield splitting protocols to optimize user yields and even develop ETH LST/LRT (only if GTM strategy is consolidated) to attract more users.
- For mass adoption, we are considering nsASTR for institutional investors and potentially issuing debit cards, similar to Ether.fi . Other undisclosed initiatives are also in progress.
In addition to the above-mentioned, we are also progressing on short-term marketing initiatives such as NFT campaigns, listings on StakingRewards, value add from investor/Launchpad/KOL rounds, point marketing, KOL marketing, and strengthening social activities. There are also larger initiatives that will be disclosed gradually in the future. We will strive in both development and marketing to ensure broad usage within and outside the Astar ecosystem.
- Thanks for sharing some detailed target numbers here. It would be great if you can elaborate more on the strategy how you achieve these numbers and make nsASTR leading LST for ASTR by the end of this year. The ASTR’s market cap is at the time of writing is approx. $450m; therefore, the target, which is 8% of it, is then $36m. You mentioned exploring new initiatives, but if you haven’t already started, then it is rather unclear how significant progress can be achieved by the end of the year.
I understand what you are saying. The numbers mentioned above are just targets. The idea is to write down our estimates (targets) and take the best measures to achieve those goals. If we don’t meet our targets, we will repeatedly revise and improve.
- How do you plan to manage liquidity in general? Historical data might provide some insights.
Sorry, I didn’t quite understand this part. Could you please rephrase or elaborate?
- At this moment, you have three dApps and social media platforms, (Starlay) forum, and governance (snapshot). On top of it, you are building the community for Neemo Finance. Already you probably know, it for sure takes time and resources to maintain all the social media platforms tidy, organized and engaged. What is the strategy for the social media platform? Do you prioritize Neemo Finance for its growth or anything else in your mind? Or they are all separated?
As decided in Starlay’s governance, we are currently focusing on Neemo Finance. I understand your point about keeping all social media platforms tidy. In the future, there might be a possibility that Neemo will unify the management of all entities. However, this is still under discussion and not yet decided.
Thank you for your comments again. Our team is committed to earning and maintaining your trust. We will work diligently to ensure our actions meet your expectations and confidence in us.