Proposal to delist Starlay from dApp staking

I hereby propose to delist Starlay from dApp staking.

  1. Starlay is an incubated projects but they have performed very badly.

  2. We all know they are simply a scam. They raised public’s money and then put 3 digit liquidity.

  3. Token price dumped >95% on the first hours. Even meme projects are adding more liquididy than this. So, we were all puzzled at why Starlay did this.

  4. And then, they requested a huge amount of ASTR from the treasury to support the liquidity (you can find the proposal on this forum). They won the vote with a slight majority but the buyback and liquidity provision was only there to create speculation. Some people bought low and sold the pump. This was a waste of treasury’s money. Astar removed the LP at a significant loss. To me, this is not a good way to spend.the treasury’s money.

  5. After almost 2 years of their existence, they have no community. Check their forum, there are probably only 2-3 people talking. This is very sad considering Starlay is an incubated project.

  6. Time has proven that they can’t do anything. Their social media is also empty.

  7. Moreover, I read the article released by Kagla (which is also Starlay), saying that they are running out of funds. They have been receiving dApp staking rewards and still running out of funds? So, what is the point? Are they really bad at money management? This is not the kind of builder we want.

I would love the hear the opinion of others. Thanks for reading this proposal and please open the vote.

13 Likes

I hereby propose to delist moonme from the Astar community.

  1. Moonme says that Starlay is very bad or a scam in its performance; on what basis are you saying this? What is worse than other DeFi that are active in Astar? Seiya from Starlay has already announced multi-chain expansion into Acala and Aleph Zero, and is working toward XCM lending with Astar; it also received its first grant from Polkadot as DeFi to create a template for WASM DeFi. If there are other active DeFi’s out there beyond us, please let me know.
  2. There is a claim that the token price has dropped 95%, which we apologized to Astar for in a thread a year and a half ago, and all the milestones since then have been implemented. It seems to me that you are just trying to antagonize us and flirt with us now.
  3. We do not want to be judged now as a fraud with regard to the Liquidity Supply that was passed by an Astar community vote. In fact, Astar has withdrawn liquidity from ArthSwap a year later, and our LP fees have been fully recovered by Astar Treasury. It is not in our control, and the LAY we lent for Astar Treasury has not yet been returned. We did not intend to give our opinion that Astar should return the LAY. It would be easy to ignore the context and just criticize.
  4. It is true that only a few people are conversing on Starlay’s Forum. Indeed, Starlay Forum is just getting started, and there is not much to discuss. But Starlay is committed to decision-making by LAY holders and has decided to provide a forum for discussion on all topics because Astar and the community demanded it. I admit that the number of people actually participating is small, but how many other DeFi’s are able to provide an environment for discussion using the Forum by paying the cost? I cannot allow moonme to insult the hard work that Seiya is doing for Starlay every day.
  5. Kagla is a protocol developed by Starlay contributors, but Kagla is not received for any rewards from dApp Staking. We have declared in the community how all the money is spent. Around 10-15k was transferred each month, paid for 3 salaries:.
    Neo: $0
    Seiya: $4,500
    David: $4,500
    We remember almost all of what criticisms have been made by certain people, but we would like you guys to do your research and then criticize us.
  6. I think Moonme seems to feel comfortable with the delist proposal, including other DeFi’s, but please don’t talk about your personal grievances in a tone that makes you sound like a representative of the community. People who only see this post will be under the illusion that Starlay really didn’t do anything. I will never allow you to just insult Seiya or David, who are daily contributors to Starlay.
6 Likes

Thank you @moonme and @neo_defi.

I already posted everything I want to say about dAppStaking, through Arthswap case.
I think dAppStaking v3 is not enough to solve the problem.
This is more about the attitude of the builder & staker.

In this case, I think Starlay is NOT a scam.
It’s peoples choice to select DeFi or buy Token or staking etc.

4 Likes

LOL! Are you joking? @moonme was the huge supporter and responsible for the Astar growth in several countries - Astar is a permissionless blockchain you can’t just ask for to exclude people from the community.

I agree with several points raised by @moonme ever since starlay borrowed money from Astar treasury (I voted strongly NAY and several ambassadors did it as well).

We should delist and list it again (same process we have done with Arthswap) - it’s not fair the amount of ASTR Starlay is getting if we look at development activity. Meanwhile, dApp staking V3 is not ready, yet I think this is the best thing to do once there are a bunch of dApps getting nothing.

Also, it’s really disgusting to see how a project team leader answer questions raised by the community! SMH…

100% on these quotes!!!

Starlay was incubated by Astar Incubation Program since the day one, guys!!! We do not see reports, transparency and so much bad behaviours from the team.

7 Likes

I hereby propose to delist @moonme from the Astar community too.

I am Seiya Chida, in charge of SCI(Starlay Chan Initiative), a service provider for Starlay Finance. First, it is important to base your statements on facts. There is too much subjective criticism against the project, which is not grounded in reality from @moonme

  1. Starlay is an incubated project, but they have performed very badly.
    • What specific metrics are you referring to when saying ‘performed very badly’? Is it possible to compare these with the performance data of other similar assets? Where and compared to what are we doing very badly, considering that We’ve achieved a lot including WASM development, launching a new token/chain, releasing new functions, and integrating new governance?
  2. We all know they are simply a scam. They raised public money and then put 3-digit liquidity.
  3. Token price dumped >95% in the first hours. Even meme projects are adding more liquidity than this.
    • Have you ever experienced or supported a token launch? Do you understand the strategy of market makers? Just adding liquidity is not enough. Well-known meme projects are backed by professional market makers, not just liquidity.
  4. And then, they requested a huge amount of ASTR from the treasury to support the liquidity.
    • I’m not clear on the point of your argument. What exactly are you suggesting? We lent LAY for liquidity provision without any profit. The liquidity fees went entirely to the Astar Foundation, and we didn’t receive any revenue. Also this is not a constructive discussion. Please state what you want or suggest instead of rehashing the past.
  5. After almost 2 years of their existence, they have no community. Check their forum, there are probably only 2-3 people talking. This is very sad considering Starlay is an incubated project.
    • What do you mean by ‘no community’? Spreading baseless claims is troublesome. While Starlay’s forum may not be very active mainly because Starlay forum is started from June, 2023, first of all that’s typical for many forums. You should examine other projects’ forums, snapshots, and on-chain votes. Have you seen Aave’s forum? Often, discussions are led by the minority of service providers. Understanding the protocol’s parameters, strategy formulation, audits, and treasury management requires a certain level of expertise and context of the protocol. That’s why participation is limited.
  6. Time has proven that they can’t do anything. Their social media is also empty.
  7. Moreover, I read the article released by Kagla (which is also Starlay), saying that they are running out of funds. They have been receiving dApp staking rewards and still running out of funds? So, what is the point? Are they really bad at money management? This is not the kind of builder we want.
    • We aren’t receiving dApp staking rewards for Kagla. Additionally the all revenue of Kagla is distributed to our muKGL holders directly. Where do we have funds for running Kagla even though no revenue incurred by its protocol and no dapp staking?

Your statements are lacking in factual accuracy. Please research thoroughly before making this kind of proposal.

4 Likes

LOL! Are you joking? @moonme was the huge supporter and responsible for the Astar growth in several countries - Astar is a permissionless blockchain you can’t just ask for to exclude people from the community.

->You’re the one making a joke. Have you read the community guidelines? The guidelines state, ‘Respect others and convince others by data and numbers, not by random emotional comments.’ What @moonme is saying is merely random emotional, not data-based. Also, it is mentioned, ‘People who do not follow the rules will be banned immediately.’ So, a ban from the forum, or in other words, delisting, is possible

I agree with several points raised by @moonme ever since starlay borrowed money from Astar treasury (I voted strongly NAY and several ambassadors did it as well).

->We are lending LAY. Please read the forum carefully and look at the transactions. We have made all wallet addresses public

We should delist and list it again (same process we have done with Arthswap) - it’s not fair the amount of ASTR Starlay is getting if we look at development activity. Meanwhile, dApp staking V3 is not ready, yet I think this is the best thing to do once there are a bunch of dApps getting nothing.

->Have you properly looked at the development activities? Please check. And what are you comparing this to

Also, it’s really disgusting to see how a project team leader answer questions raised by the community! SMH…
100% on these quotes!!!

→I share the same sentiment. You are posting based on personal feelings without data, which is emotional. I feel you are violating the community guidelines, and disregarding the rules lowers the dignity of the community

1 Like

Hello everyone,

To ensure that conversation and debate can continue in a respectful atmosphere, I invite you all to be aware of the forum rules. It is important to avoid responses based on emotions such as anger, sarcasm or not taking the subject seriously.

Replies must be constructive and not directly harmful to anyone. If you post a fact, please justify it with evidence or numbers. The community is watching you and can make its own decision on how the conversation is going.

If the guidelines are not respected, we will take responsibility for enforcing the rules by deleting inappropriate or offensive messages, or even suspending the user temporarily or permanently.

7 Likes

Toga was here long before me. I haven’t heard very favourable things about starlay from other ambassadors either. Seriously, looking at the community accounts, there doesn’t seem to be anything going on. The promises made seem to be unfulfilled.

There are huge bugs, especially in the DEFi area. It’s sad for an incubation project to be this way.

I SUPPORT @moonme and ask for a vote to be opened

2 Likes

First, could you please clarify the specific community accounts you’re referring to when you mention, “looking at the community accounts, there doesn’t seem to be anything going on. The promises made seem to be unfulfilled”? Which particular aspect are you addressing with “doesn’t seem to be anything going on”? Have you had a chance to review the updates I’ve provided earlier?

Regarding your comment about “huge bugs, especially in the DEFi area,” could you specify which areas you are referring to? Where exactly are these bugs, and how are they related to this topic?

I recommend reading @Gaius_sama’s post. Before making assertions, it’s important to follow the guideline: “If you post a fact, please justify it with evidence or numbers.” Replies should be constructive and not harmful to anyone. The community is observing and will form its own opinions based on how the conversation progresses and the evidence provided.

2 Likes

Greetings @SeiyaChida , my aim is constructive. I am making these comments based on what Toga said, and when I confirmed what he said, it seems to be true. I do not want you to take this as an offensive reply in any way. Please do not misunderstand me. I am a messenger with hindsight. Toga is a myth. His retrospective claims in his posts do not appear to be inconsistent. I will actively read the discussions in this forum. If your attitude towards other ambassadors and your responses do not satisfy me, I will not support you in the voting process. I said that I support Toga because what he says makes sense.

If your answers satisfy me, I will support you. I don’t care whether Toga is a legend or not. I want to approach objectively and see what is best for the ecosystem. I am looking for the truth right now.

2 Likes

@MrKarahanli-Emre
Thank you for your response. I understand your position and appreciate your desire for a constructive dialogue. I encourage you to thoroughly review the content of the forum and objectively consider the points raised by myself, @neo_defi and @moonme. We have provided all the requested information, and if more is needed, we are willing to supply it. Our discussions are always based on facts.

I respect your approach to making decisions based on the information presented in the forum discussions. It’s important that all community members, including ambassadors, have their voices heard and concerns addressed in a factual and respectful manner. Our goal is to ensure that every decision made is in the best interest of the ecosystem, and that it is backed by solid evidence and rational arguments.

I’m committed to addressing any concerns and questions that arise, providing detailed and factual responses. Please feel free to bring up any specific issues or points of clarification you need. Your support and the support of the community are vital, and I’m here to provide any information that can help in making informed decisions for the betterment of our ecosystem.

Looking forward to more discussions and working together towards the progress of our community.

3 Likes

I and other ambassadors were in the call with Morris, and it was a disaster in terms of education and transparency. No justification was given for the mistakes made, and yet the ‘loan’ was still granted.

Get here your data and all public complaints from the community raised by the Council and the Astar community members in May 2022.

Yourselves compared you with Aave - check the numbers that were thrown around in 2022 and what the protocol have today. Yes, it was a significant failure in Astar DeFi (even in the bear market) when compared to other protocols in the Moonbeam ecosystem, for example: Moonwell.


1 Like

@pitcoin777

I and other ambassadors were in the call with Morris, and it was a disaster in terms of education and transparency. No justification was given for the mistakes made, and yet the ‘loan’ was still granted.

->Is this related to your accusation regarding the funds borrowed from the Astar Treasury you mentioned earlier? I already clarified earlier that we are lending LAY, not borrowing ASTR. The LAY we lent is still in the Astar Treasury. Please consult a core member if you’re unsure how to verify this.
Also are you suggesting that Morris, as well as Starlay itself, are lacking in terms of education and transparency? This meeting is to discuss the possibility of delisting Starlay, not to accuse a specific individual. Moreover, we have enhanced our transparency report. Have you even reviewed it?

Get here your data and all public complaints from the community raised by the Council and the Astar community members in May 2022.

→What exactly are you asking of us? It seems you’re always focusing on past issues and neglecting to acknowledge current updates. Have you even looked at the updates I’ve shared? We have thoroughly explained the incident before as well. Isn’t the purpose of this discussion to decide whether we get delisted or not? Shouldn’t we focus on what we’ve improved from the past and our plans for the future? This doesn’t seem like a constructive conversation; it feels more like nitpicking.

Yourselves compared you with Aave - check the numbers that were thrown around in 2022 and what the protocol have today. Yes, it was a significant failure in Astar DeFi (even in the bear market) when compared to other protocols in the Moonbeam ecosystem, for example: Moonwell.

→Weren’t we discussing development progress?
There are over a thousand chains… you’re just picking one example. Moonbeam is one of the biggest chains in the Polkadot ecosystem. Please provide more comprehensive data to support your claim of our significant failure.

1 Like

It’s not a suggestion, it’s a fact. I was in the call, @Kahori was in the call, @moonme was in the call, @GreatTeacherKez was in the call, @AlexPromoTeam was in the call and a couple more ambassadors and core Team members - I just cited Morris because you guys hired him to represent the team (as Neo and others are unable to communicate properly). Just check the Neo message :wink:

Clearly yes, the focus is on the past performance (which was poor), and even the new updates are not able to mitigate the failure of your product in Astar’s DeFi.

Yes! Astar is a top-tier chain, and the community wants products that meet its standards! Despite receiving funding from the Incubation Program, dApp Staking, and “LENDING,” you have not been able to develop a relevant community and regain the Astar community’s trust. They lost confidence in your product after numerous incidents (already listed above).

Just compare Astar Top #1 DeFi product and others yourself :wink:

Benqi Top #1 on Avax

Metapool Near Top #1 Near

SpookySwap Top #1 Fantom

Folks Finance Top#1 Algorand

more from Moonbeam

1 Like

In you right mind, can you tell me in which ways have you conducted your business in no an ethical way?

  1. When you launched, you published a fake APR%. LAY was not even listed at that time. So the APR% that people were farming was fake.

  2. You listed lay only 4-5 months later. As gar as I can remember, you guys even had a discussion with Kei (Astar Team) about selling IDO at $300 million FDV. You guys were nuts!! Nothing but money grab but luckily this didn’t happen.

  3. You raised much money, but added a 3 digit loquidity. You are no better than scam meme projects who add 1 eth liquidity.

  4. When your token failed, you requested Astat to support your LP. Why is this not your own responsibility in the first place?

  5. Neo claimed that by getting Astar tresury support for the LP, it will stabilize the LAY price. This is where Neo was really joking. You want the data? Check dexscreener.

Please don’t assume that we are stupid. We are not. You need to humble yourself since you are guilty as charged.

7 Likes

Apologies, @pitcoin777, for the mix-up in the order of our discussion. I’ll reply to you soon.

@moonme, please refer back to my earlier messages regarding queries 3, 4, and 5, where I have provided the necessary clarifications. As for point 1, it has already been discussed and explained earlier. Regarding point 2, I’m not sure if you’re referring to an official statement or if it’s just a personal remark

2 Likes

Your accusation was regarding the funds borrowed from the Astar Treasury you mentioned earlier, right? And It appears there was dissatisfaction with Morris’s ability to clarify the transparency issues during the call. However, as I’ve emphasized repeatedly, all aspects of transparency have now been disclosed. Also We are lending LAY. Please read the forum carefully and look at the transactions or ask the core team. Isn’t that the crux of the matter? I’m curious why there is a focus on the conversation between ambassadors and Morris.

Clearly yes, the focus is on the past performance (which was poor), and even the new updates are not able to mitigate the failure of your product in Astar’s DeFi.
Yes! Astar is a top-tier chain, and the community wants products that meet its standards! Despite receiving funding from the Incubation Program, dApp Staking, and “LENDING,” you have not been able to develop a relevant community and regain the Astar community’s trust. They lost confidence in your product after numerous incidents (already listed above).

I’m not aware of any documentation that suggests dapp staking is judged mainly based on past performance as you mentioned. If there is a specific location where this is stated, I would appreciate it if you could point me to it, as my review of the documentation has not revealed anything that supports that claim.

Additionally, you say that Astar is a top-tier chain, and the community wants products that meet its standards. What exactly are these standards you are referring to? Could you provide examples of projects within Astar that meet these standards and what extend?

Just compare Astar Top #1 DeFi product and others yourself :wink:

Perhaps we should focus on defining what ‘significant failure’ means in this context. If Starlay is considered a significant failure, it might be proposed for delisting from dapp staking. It’s important to remember that there are lots of factors we have to consider when you point out and say significant failure, not just TVL. Let’s clarify what significant failure means and then discuss whether Starlay meets that criteria.

2 Likes

I would like to know some more details. I actually checked a few dApp staking projects and made videos few days ago, I mentioned StarLay and I noticed the astar staking TVL is high, do you also have TVL history for Starlay and other information like the number of users weekly or monthly? I think this data would be helpful for the community. I also checked your twitter, I don’t agree that starlay did nothing, but I have to admit that is not satisfying as well, as quite a lot of tweet is just retweet and also the views are not that good considering you are a project with 80k followers, do you have any plan to improve in the future? I also feel it might be a good idea if you can share monthly report with the community so that we all know what is happening and the future plan. I would like to see the success of all dApp staking projects in Astar, right now I am focusing on Chinese market AIWeb3, but if there is anything I can help with, I would be happy to do that as well.

BTW, @moonme is long-term Astar supporter, let’s respect each other and be open-minded, solve the problem, and not try to be emotional.

4 Likes

@DrCAO
Thank you for your response. I’m glad we’re having a constructive discussion rather than just rehashing the past. It’s important to have open and meaningful exchanges to move forward effectively.

I would like to know some more details. I actually checked a few dApp staking projects and made videos few days ago, I mentioned StarLay and I noticed the astar staking TVL is high, do you also have TVL history for Starlay and other information like the number of users weekly or monthly? I think this data would be helpful for the community.

Yes, we have all the necessary data available. There was a minor issue with our data script in December, which led to incomplete data, but we’re addressing it promptly. You can find monthly data in our ‘Starlay Finance: Monthly Financial Report’ at this link: Starlay Finance Transparency Report.

also checked your twitter, I don’t agree that starlay did nothing, but I have to admit that is not satisfying as well, as quite a lot of tweet is just retweet and also the views are not that good considering you are a project with 80k followers, do you have any plan to improve in the future?

Our current priority is enhancing the protocol’s revenue through token initiatives, launching on multiple chains, implementing new features, governance, and strategies to increase token value. We’re operating within limited resources, so it is little bit difficult to focus on twitter marketing. Therefore, we focus on tweets with highest impressions that come from launch on new chains, AMAs announcement, and announcements with other token.
We welcome any additional ideas you might have to improve our presence.

I also feel it might be a good idea if you can share monthly report with the community so that we all know what is happening and the future plan.

We are already issuing monthly reports. You can find them here: Starlay Monthly Financial Report and Updates. We’ve also suggested this before, but having a dedicated section within the Astar forum for submitting these monthly reports would be very beneficial for us and the community. dApp staking programs should be transparent - #24 by SeiyaChida

BTW, @moonme is long-term Astar supporter, let’s respect each other and be open-minded, solve the problem, and not try to be emotional.

I completely agree. It’s crucial to maintain respect and an open-minded approach in the community. Criticizing without considering data or evidence, and not offering alternatives, isn’t constructive. We aim to address issues thoughtfully and steer clear of emotional reactions, focusing instead on effective problem-solving.

3 Likes

I understand that everyone has the same goal, which is to make the Astar Network project transparent and efficient. I think everyone agrees on this. It would be great if we could make decisions about this in a forum where we can do so without affecting the opinions of others, such as through voting.