even not loan. ASTR price from 0.06->0.048. Astar treasury loss = $100 000.
i think you examples is obviously biased and unfair.
- you didnt calculate lay’s price rise side.
- In your scenarios, you use the usdt standard when you lend money. Astr and usdt standard conversion are used of confusion. I think it’s very subjective and misleading.
3 Likes
I think you just didn’t read the post enough, bold is supposed to highlight important infos like number of ASTR tokens missing 
Cheers!
3 Likes
I think we can all unequivocally agree that a Lending protocol is critical for any blockchain network to add liquidity and transfer risk between parties.
Starlay on a product front has been proven to be a very early and effective tool for this.
We can all quibble about price of a token but the Dapp itself is excellent and will be critical to the future growth of ASTR and believe we should support it.
Too many protocols have been way too coy in launching tokens in a tough market but I give LAY a lot of respect for taking their product to the market. We can all be disappointed with price action but these we decisions made by private individuals at a price they saw value.
Nothing has changed with that.
We cant keep having these protocols too afraid to launch tokens into the market. I think we should do everything in our communal ability to support the ones that actually take that risk.
10 Likes
I agree with @sota 's proposal, but the prerequisition is we should operate the fund under a transparent contract (which should be owned by Astar team) to avoid StarLay cheating again.
I’m proficient in evm contract, and I think this is definitely an achievable feature for EVM Contract.
3 Likes
No offense, I’m just curious. I heard that someone said that the platform should be neutral. If someone is against this proposal because of this reason, why is the DOT festival okay? My understanding is that DOT festival is a collaboration of Astar and three protocols.
I’m okay if this proposal is rejected since that’s the community’s decision, but it’d be good to know why people are against this proposal in order to gain trust again.
4 Likes
There is no reason to say no in my opinion, first of all its a loan not a grant!
Secondly, if it will help Starlay it will also benefit the whole Astr ecosystem.
Web 3 projects are built on community trust, with this proposal for sure will boost community trust to the whole Astr projects.
Anw, the bar to vote is pretty high, I wanted to vote but only have basic level, I hope the admin can consider to set lower trust level to vote
Thanks
5 Likes
Hello.
Sorry to tell you afterwards but Astar Ambassadors had an AMA with the Starlay team yesterday. I wish it were an open discussion but personally, it was the first time I saw Neo speaking I felt an excellent motivation from him. I hope in the future Neo will organise community calls and share his plans to make us more excited.
I have no doubt Starlay successfully achieve the milestone he suggests. He looked very confident and I felt confident to trust him.
However, now the votes are split, and I did ask Japanese community and the result was the same. This made me feel good that the forum poll does represent people pretty equally. Yes votes came from people mostly Lay holders understandably and No votes came from Astar community members. That tells that the problems that have been occurring here are all human errors and miscommunication and that resulting that Starlay team is not loved by Astar community for this moment. Hense the product has as we all know no problems.
So what should we discuss now?
The question I gave yesterday to @neo_defi was what Starlay would do if the vote went No. I didn’t receive a clear answer and I would like to know it here please. In the past comment, Neo said he might not be able to manage Lay’s price and that would make the team difficult to keep building if the proposal was rejected so in that case how would the team spend the funds? You would not need funds for auditing if you stop building? Will you add liquidity by yourself? This comment left us huge anxiety and I hope you can explain this again.
But what if vote went no, but Starlay team aims to achieve all milestones he suggested in the coming three months? They would need to add some liquidity in order to buyback successfully but in three months’ time if Astar community knows the progress of the Starlay cool products as well as improving the communication and respecting users. Do the community still have the same result? I don’t think so. I would think I would rather be proud to have such talented projects. And I would be very happy to vote for yes.
My vote is with the Astar community. I do hope Starlay to be one of the ecosystem leading products.
11 Likes
We never quit, never give up, no matter what. We will continue building and growing yes or yes. Thank you
5 Likes
In any case, I really do appreciate that @neo_defi et al are still striving to achieve something within the Astar eco-system.
Despite the failure of the IDO, moving forward is the only way and attempting at a solution is better than just bickering.
Can only move forward with what is given…
Thank you @sota et al for giving your feedback and also for being a forward founder of astar.
I would like to support Starlay as being the only lending platform right now that has devs that are active in their development, it could only be good for the long run.
2 Likes
This. A really good suggestion and it may actually create more transparency. This will raise trust more for both Starlay and Astar.
3 Likes
I think supporting Starlay and providing liquidity to the ASTR-LAY pair is beneficial to the ecosystem since it is the only Astar-native lending protocol for now. But I think we should carefully consider the timing. Currently, $LAY’s price is still going down and hasn’t touched the bottom yet. Better timing would be when $LAY’s price touches the bottom and stabilizes for a few days.
Because this can minimize the treasury’s risk of impermanent loss. It also encourages weak hands to dump their $LAY tokens and make sure the diamond hands stay. I am concerned that adding liquidity now will just encourage unloyal defi farmers to farm and dump and can hardly stop the downward trend.
Adding liquidity after a few weeks (est.) would be better for the long-term growth of Starlay IMO. Thank you!
11 Likes
Agreed.
Maybe have a tiered delayed “DCA” into the liquidity pool (with txids of the addition to liquidity) with a weekly addition into the pool to allow for more additional liquidity as time passes instead of having the entirety of the position deployed in one go.
2 Likes
Happy to See the voting Results.
Despite the failure of the IDO, moving forward is the only way and attempting at a solution is better than just pointing out who is right or who is wrong. thanks @sota and (Rest of Astar Team).
@neo_defi i hope this time you guys will prove yourself right.
2 Likes
In case if you have multiple accounts in Forum and have right to vote, please only vote once and leave only one account on Forum. I don’t wish to tag the names here.
5 Likes
Thank you all for your supportive comments. I apologize for not being able to respond to each comment in detail, but it was a pleasure to read recent comments @takecian @TallCraig @ferry @0xHalfa @Mingshi @LORD @anon24836865
@Kahori Thank you for your question yesterday and really appreciate your sincere message. If this vote went No, we will have to pend no.2 proposed in Next Actions. This is because an operation of buying back LAY without liquidity at this time is unlikely to be effective.
However, what I can promise now is that we will implement one by one what we previously published as our development roadmap. To show our sincerity in action, one of them was released yesterday, ahead of schedule. Regardless of the outcome of the vote, these developments will continue.
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A Makai loop position can be closed with a single click. It will be released at the end of June. -
aUSD will be listed on Starlay Finance and Kagla Finance. It will require cooperation with the Acala team and is expected to be released at the end of June or early July. Also, the laUSD+l3KGL pool will be available as a new pool at Kagla Finance.
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Enable users to receive not only KGL but also LAY when using Starlay Pool in Kagla Finance, which is called Dual Mining. It will be released in July.
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The ve will allow Starlay Finance’s protocol revenue to be returned to LAY holders. We are currently working with Runtime Verification, a Tier-1 audit firm, to develop the smart contracts, which is expected to be released between the end of June and early July.
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Muuu Finance will support muLAY for veLAY. It can be handled in the same way as muKGL. It will be released in August.
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The muKGL-KGL and muLAY-LAY pools are created at Kagla Finance. The former will be available in July and the latter in August.
8 Likes
It’s very assuring to know that you promise to be building as you suggest. I’m sure everybody is relieved now and will look forward to the features to be implemented.
I have no reason to vote Yes this time as I explained but I’m hopeful whichever the poll goes this time you will have an opportunity when milestones are accomplished. My personal hope is for you to achieve 100% YES votes on this proposal next time.
3 Likes
A rather strange statement that LAY has not reached the bottom, do you know where it is? As for talking about risks, in my country, the central bank advocated banning cryptocurrencies, explaining this with high risks. There was even a humorous meme: “What is the risk? Risk after risk.” So, we are not discussing speculation here, this is an investment in the health of the project, on the one hand the risk of $, on the other hand the development of a decent project. the community votes as it decides, everyone has their own arguments, I just would like to hear them. I already understand how the vote will end, it just reminded me of the behavior of ICON Fondation, I was familiar with the validators and communicated with them, the community was constantly against giving them money, and constantly got into their pockets, as a result, the developers left the network, and created very large and worthy projects. An example of one of them is 6,200,000,000+
Digital Assets Stacked
3 Likes