[RFC] Improve the Status of the Mendi Token

  1. I think thats not the full picture. Historically voting participation never exceeded 50% if we also talk about IRL voting. On Mendi the highest participation was with the first vote, reaching ~33% meaning 66% did not vote. In the last votes its even lower. I dont think its realistic to reach over 50% participation, meaning that half of the stakers would not approve the proposal. We can potentially raise thresholds to 66% of the total staked Mendi for example to reach consensus, but realistically governance should try to avoid proposals like this.

  2. I think thats not well supported, espeically with low volume tokens like Mendi. If the volume would be 2-3m per day, I would be more optimistic, currently I am a bit skeptic what would be the benefit being brought.

  3. This actually touches on the part of the previous topic, I dont think that this proposal would drive a good CEX strategy. I think there are alternative ways, which I will expand on in the end.

  4. If we are planning to list on all of these over the next couple of years it will have a budget of 13 times on average 100-150k. This will take 2 years to complete at minimum. Stakers should be aware of the implications. I also dont think 13 exchanges are necessary, very few blue-chip projects follow a strategy like this. Take a look at Ether.fi Renzo CEX strategy for example.

  5. As I mentioned in the previous answer this will redirect revenue for at least 2 years and votes need to have these points clarified.

  6. We can create a vesting schedule.

  7. These is very vague, we do engage with content creators already, so this is not something new either.
    Using views etc on TW to benchmark performance is a money pit btw because anyone can purchase views and followers from bots.

  8. I think an initiative like this should have a fully fledged offer and budet from a CEX.

To sum up, I think a better approach is to push for CEX listing iniatiatives with concrete listing and to use a private sale with vesting for funding, and potentially redirect revenue to buy back the private sale amount until the vesting ends.

I dont see a good outcome from voting on these proposals.

One of the main issue is that if the core team believes a strategy puts the approach at a disadvantage they are not the correct executioners for the strategy. CEX strategy should be driven by offers and concerete votes with concrete details behind them.

One main approach for governance is that if a proposer is not the executioner they should be aligned with the executioner team on execution. Its not the correct approach to post that someone will execute it without first syncing with them.

If there are community driven proposals, the core team can be contacted through the DC tickets etc, we can set up the necessary channels to have a proposal that we can fully support with execution (even if we are not the proposers)

  • I promise to break the participation record for the CEX listing proposal.
  • Your perspective is not correct; when we complete the first listing, more investors and users will notice us. Therefore, our speed for the subsequent listings will increase because both the token price will rise, which will increase the stakers’ income, and the TVL will grow, boosting the protocol’s revenue.
  • A private sale creates selling pressure, and handing tokens to big investors will cause destruction. The token should only be available for purchase on the market.
    In conclusion, I think it would be better if you submit your approved proposal on this matter. If it is approved, we can take it to Snapshot.
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So do you have any plans to list in cex? Or you just want to manage a post on X every day. Why are you resisting listing on CEX? The community is angry about the price drop.

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we have engaged with multiple potential CEXs for listing as the community requested that. Negotiations are a lengthy process, and the structure we look to go for would be different.

There is no “approved” version of the RFC from the core team, if the RFC maintains the formal requirement of the RFC the staker who has the minimum threshold can post it, we don’t censor it.

The proposal in itself is very vague, while CEX listing can be beneficial this structure won’t benefit the Mendi stakers. I also listed multiple reasons why voting in the proposal is not going to guarantee stakers holding for half the rewards in a market contraction for alt coins. If the participation is over 70-80% it will be different.

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Why are you so stubborn and not listening to the community? Please hear the voices and fix this procedure before it’s too late.

BTW I have one question: Do you want a CEX deal for the long term success of the project, or do you want to sell the news? One of this is what you call a governance attack!