Next Actions -- Starlay Finance

I am a moderator of this forum. Whether delisting Starlay or not is not what I am going to decide. This will be decided by a poll conducted by our core team, ambassadors, and people who have more than trust level 3.

All you are doing is criticizing and this is not a constructive discussion. If you have a complaint, come up with a counter-proposal.

I will delete both your message and mine after 6 hours because this is irrelevant.

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It is a simple question. Morris, who are you? Since it came out suddenly, I don’t know what it is. Why does your situation improve when you join the team? What kind of background do you have and what kind of things can you give back to the team in the future?

I don’t think you should delete the comments, since this shows the real picture of the situation, and not just leave nice comments, as long as no one is disrespected, I think we all give our point of view and disagreement. and I insist that I believe that the Starlay team should be removed from the dapp staking, all the actions mentioned above are not by mistake, they were done with all the intention. And by the way. I leave the link to my proposal that I hope someone can answer me. Starlay Finance dApp - #120 by kuasimoto

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It doesn’t matter who Morris is, it matters what Morris will do. It’s already clear. Morris is doing great job to communicate with community.

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I would like to express my opinion.

  1. if this is acceptable to the participants of the first token sale, I think it is fine.
  2. I think it is a good idea to increase the price of LAY by buying back LAY. But what does it mean to receive ASTRs from Astar’s Treasury to increase liquidity? You guys should have received a combined $2M from the two token sales, and even with the $4M ASTR for the LAY buyback, there should still be quite a bit left over. You should do as much as you can provide from your own funds.
  3. if this does not bother your income, then good!
  4. Astar is only a public blockchain and should not have much say in 1dApp. With that in mind, if you want input on important decisions, I think it’s fine. But what we should do more than that, in my opinion, is to confront the community.
  5. yes, the community is most important.
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I think funding is needed.

  1. The ASTAR ecosystem requires native lending protocol. This helps activate the whole ecosystem.
  2. Starlay have the largest lending TVL in ASTAR.
  3. It was clear that the core team could not sustain Lay’s price in the preliminary stage. The collapse of Lay prices will directly affect the entire lending system, which in turn will have an impact on the entire ASTAR ecosystem such as arthswap.
  4. This money is more likely to contribute to ecosystem development than just a superficial grant.
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I have not yet seen any opposition regarding #3. We are first going to use the dApp Staking rewards we have earned so far to buy back LAY. Does anyone disagree with me on this point? I’ll paste the transaction here after the operation.

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Hi @wing_tail

Sorry for being late to reply. I was thinking about how I should reply to you.

Apologize if you’re not convinced. But this post by me and this post by Morris is all information we can disclose.

Will resources really be allocated for the community?

Yes, we will definitely be adding more members to interact and communicate with community members. We will keep you posted on Discord about new members and their roles.

Is this a trivial mistake that can be avoided without disclosing the circumstances or taking measures to prevent recurrence?

Not sure if it can be called trivial. However, this is an operational error. I am sure that by adding members to the team and organizing and preparing the operation before conducting them, we can prevent such mistakes in the future.

I hope that Starlay will continue to develop without letting the failures be forgotten and to make sincere improvements.

Will do our best.

Thank you for all posts you’ve done @wing_tail. Pleasure if we can move forward together.

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We used all 20,721 ASTR earned from dApp Staking rewards to buy back LAY.

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Thanks for your thoughtful response, @neo_defi.
I am sorry that I misinterpreted it as an unwillingness to answer.
However, if you were busy and needed time to respond, I would have liked a temporary reply just stating that.
Please consider this in your future correspondence.

Now, your response gives me some hope for the future development of Starlay.
I agree with the policy of expanding human resources.
However, I still have the impression that it is a poor way to solicit investment because there is no timeline for implementation.

For example, how about setting a goal, at the granularity of a quarterly plan, of how much resources will be secured by when, and what will be achieved by that?
I think it is essential to provide an implementation plan and timeline to gain trust in any of the proposals, whether it is to work with the community, to ensure stable and accident-free operations, or to stabilize the price of LAY.

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Hi, this is Chest. Please let me share one news from Starlay
First of all, thank you for your continued support in this situation.
Today, $DOT gets listed on Starlay.
Along with its implementation of XCM, $DOT will inflow into Astar Ecosystem.

Best

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Thank you for your reply @wing_tail. Agree with you. I will share your post with the team. Might take a little time but will get back to you.

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You are honoring your words with your actions. This is a very positive thing to see. Thank you

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How will the buy back LAY be used?
Why don’t you burn?
Can I show the period if I lock it?

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Genius, I understand you and you are honoring your word, work, develop, you have a great product. Expand the staff, the first blow is always the most successful. don’t lose momentum

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i used this project. and experience is good.

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Thank you for your contributions and the proposal for how to move forward @neo_defi

Would be keen for you to appear more in discord and telegram or set up an AMA for the community to follow what the devs are doing.

I don’t think just announcements on discord and twitter are sufficient for communications. We need to have a more public figure.

Keep up the good work.

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Hi Astar core team, ambassadors, and all users of Starlay Finance.

Thank you for all your support and discussions. We are very relieved that the proposal was passed… but at the same time, we are bracing ourselves to carry out future actions.

I just posted in Starlay Finance Discord that, we would like to discuss on following points in this Next Actions thread.

  1. The timing for Starlay Finance to lend $0.5M amount of LAY to Astar Treasury (Any time is fine?)

    Note: Also, it would be great if the Astar Core team could offer us the recipient address.

  2. When Starlay Finance should start the buying operation.

  3. And when we should provide $1M liquidity to ArthSwap.

Please let us hear your opinions. Thank you.

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I am so pleased with the result of the YES vote today.

This is a great next step in restoring faith from the community. We need to support these projects that are willing to take the risk and take their token to market.

Especially for these critical pillars of our DeFi ecosystem in our only Lending Protocol.

I would love to see you guys get included in week 3 of DOT Fest. Lending against DOT would be the easiest way to get DOT users engaged into our ASTR ecosystem.

I really hope this is a tunring point in the ASTR ecosystem that sets the tone and encourages other protocols like Arthswap, AstridDao, AvaVault, Starbank &Sirius that are being way too hesitant to launch their token offering.

The community will support sound projects and teams. Great first step today.

Bought more LAY tokens this morning. That $700k support from the whale from the IDO in financial support is massive for you guys. Congratulations!!!

Looking forward to what’s next!!!

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I think the above should be done as quickly as possible.

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