[DISCUSSION] BitDAO L1 Infrastructure

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We’re having a community call on this next Thursday - 9pm (GMT+8) - Ben will be joining us!

Will have an open floor for any of you here who wanna add on to the discussion.

See you~

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First, this would be a great marketing play for both BitDAO and Bybit. If Bybit is considering integrating the token in a valuable way for users this could be a good cross promotional opportunity.

Aside from the marketing aspect, the L1 space is becoming somewhat oversaturated imo and the economic downturn isn’t helping. We should find a differentiated path for this new L1. What is it doing that is currently different from what previous L1s have done and how will it be uniquely useful for users? I suppose this is part of setting up the R&D team to figure this out. It could be interesting if this new L1 interacted with the other BitDAO subDAOs for example zkDAO collaborates with the new L1 and Game7 collaborates with them as well. So the subDAOs are essentially cross promoting the new L1 (but only in a natural way, never in a way that’s only for the sake of marketing).

Just some thoughts. If it’s authentic and there’s a true need/desire for this L1 based on a unique value proposition I think it’s a great idea. In order for it to have sustainability I believe it should have a unique angle and bring something innovative to the ecosystem.

Excited to see where this goes.

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Suppose two seperate tokens are made for governance and staking, People who are holding bit tokens will they get them directly or they would have to buy them from somewhere???I really want to understand how this would be implemented ?

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Imo the lowest hanging fruit for a successful L1 would be innovating on the consensus layer and working on new methods for sybil resistance. There hasn’t been much research going into 1 human 1 vote so far, but since that would be a lot more decentralized, secure and fair than current systems, it seems like an obvious direction for future mainstream L1s.

Probably the most overlooked solution is that there already is an extremely solid register for unique identities, which is government ids. KYC usually has various downsides, but it would be possible to implement it in a fairly open and privacy preserving manner.

For inspiration, 2 approaches come to mind that are worth looking into:

Mind that KYC may only be required for validator consensus, the blockchain itself can stay open and permissionless.

Preventing id farming would be an ongoing effort, but at the end of the day it’s still far more decentralized than PoW or PoS… could be a great opportunity for BitDAO to lead the space.

Just throwing in some ideas, looking forward to see where this is going.

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Amazing idea, just wondering how you will deal with the big problems such as gas cost, speed, and safety?

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Strongly agree, L1’s are costly to build and maintain. Unless there is a strong use case to back it building a L1 is going to introduce more risks than reward.

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Love this idea. Dydx just decided to become an L1 as well. Cosmos ecosystem is robust and definitely a nice place to start.

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Hi,
Is the chat this Thursday or did I miss it? If it is tomorrow on twitter, it means it is scheduled in the evening in Oceania/Asia, early afternoon in Europe and early morning in the US. Am I right ?
Cheers.

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@defipaca, I found answers to my questions on the bitdaoaembassy twitter. I try to join tomorrow.
A lot of questions on twitter, is someone collecting them ? Gonna select some.
Raph

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Please, see the details for submitting questions here https://twitter.com/bitdaoaembassy/status/1545477258592133120?s=20&t=4HcCV-Us2MIc4vupP58k2A

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