Where is the link to the post-mortem following your 2021 security incidents, and what steps have you taken to bolster your security practices?
I see many, many Reddit submissions with various proposals over the last few months - can you give an example of a protocol that has implemented xToken Terminal and how it has earned the moniker ârigorously testedâ aside from internal review following security incidents? You launched your first pool on April 27 (XTX/xXTKa)., which is your own governance token.
Why is your platform, xToken Terminal, more beneficial than other alternative single-point liquidity providers, or more beneficial than not relying on a single point at all? What does your protocol stand to gain by offering to be the service provider of Hopâs liquidity mining?
In the Rocket Pool DAO forum, where another of your proposals is live, there are legitimate questions from the dev team that to me have not been sufficiently answered, specifically: (1) Relying on one platform to deliver liquidity is a single point of failure (which is a heightened concern given 2021 security incidents), and (2) liquidity distribution rights leave liquidity up to political winds (e.g., Curve bribes and Tokemak). I would like to see more fleshed out answers than simply âincentivizing Uni V3 liquidity would be a step in the right direction.â
There are also the following concern:
(3) liquidity incentives deepen liquidity without a matching rise in trade volume, making LPs dependent on incentives to be profitable. Your paraphrased answer: this is a real concern about which we should be vigilant, but incentives should probably just be seen as an expense
Ok, but how does classifying an incentive as an expense help? If there is no matching rise in trade volume, all weâre doing is depleting the treasury faster, and early LPs are rewarded while later LPs might be left holding a bag. This is exaggerated by the proposal suggesting LM campaigns across 4 networks.
Are you âchadmcâ in the Rocket Pool DAO forum that commented on the xToken Terminal: âThis proposal makes so much sense. Love the real world example at the end!â