I’d like to get a temperature-check after some interesting discussions on Discord with @nikita.
Should 0x set up a community-administered treasury to fund projects or whatever proposals the community would like to push forward?
Before going into the details of how that could function, I’d like to get a signal from the community on
whether you think it’s needed to make the protocol more successful.
what type of activities you think this treasury could fund? For example, these projects could be similar to the gitcoin bounties 0x Labs ran lately, but that should not be limited to that. It’s important to stress that these projects would not be administered or coordinated by 0x Labs, but directly by ZRX tokenholders willing to champion them with the funds needed.
We observed that community-run treasuries are getting tractions (think of Uniswap and yearn) and there are more than a few 0x Labs team members that got excited about the idea. But first, we want to validate with the community that this would bring an impactful return.
This could potentially be achieved in an MVP form by taking advantage of the work necessary to bring the protocol governance on an onchain-binding system (similar to Compound’s and Uniswap’s) which was already part of the governance roadmap.
I think we need more creative ideas that serve for reasons:
Make people who hold and invest and develop in 0xproject feel more confident.
Make the ZRX token valuable ( the current price is kind of disappointed for those who invest in ZRX 2 years, the ZRX price doesn’t move at all while the whole market is going up and ZRX’s not on the trend )
We are living in a financial society, beside the revolution, interest is also a key.
For ex: We can create a marketplace where 0xproject co-op with real life products and tokenize them, and help them run their token in our platform. The governors need to be more active.
I echo this sentiment - tokens create loyalty and delivering new updates to prior tokens to draw in new talent and wealth to the community is paramount.
Investors shouldn’t sit back and be enriched for nothing, like some of the massive wealth creation airdrops of governance tokens we’re seeing - which dilutes wealth from the overall market.
At the same time, a longstanding trusted project like 0x with real tech can bridge the gap to new blockchains and incentivize 0x governance through drawing users into crosschain relationships.
If a new chain has .0001 sec finality and one billion tx per second (or whatever wild claims are out there) and they’re boasting they can scale, 0x needs to take a hard look at testing, integrating, and porting ZRX cross chain through providing incentives to cross-chain LP providers.
Proposal to accomplish this and add value to ZRX is here:
There are also other ways to accomplish this, for example by plugging Matcha directly to other existing markets and protocols in other L1s, to assess L1 integration tech hurdles first (we often take for granted all the Alchemys, Infuras, Wallets that make Ethereum apps possible) having solved already the protocol and liquidity problems. Could be a path that 0x Labs explores before migrating the 0x protocol and the rest of the exchange infrastructurere
Classic chicken&egg problems. I think it’s wise to observe adoption and be ready to move.