The Bitshares Fractal had an open discussions talk on 7/20/2022. The founder and host of the fractal is Pascal Ngu Cho, who is also an entrepreneur, consultant and founder of Digibit Technology. I joined him for our first ever meeting to discuss the vision and short term goals of this fractal. The goal of the bitshares fractal is to bring about the decentralization of governance to bitshares in a voluntary fashion. We look to build out in the short term similar to how the EOS Eden fractal has done recently. These are a couple of questions we are going to answer today.
- Why would developers and investors want to support this bitshares project?
- What do people love about bitshares, and what are the short comings?
- How does fractally provide the solutions?
First we will talk about what we all love about bitshares. We all love the lightning fast decentralized exchange and the smart contract capabilities. The XBTS team https://app.xbts.io/#/ has recently taken things to the next level with a super smooth interface with an amazing DeFi AMMob, unique pin code encryption, staking rewards system which airdrops a variety of tokens twice a month automatically. We love the Smartholdem blockchain who holds their core asset STH on XBTS. The Smartholdem chain https://smartholdem.io/home is on the cutting edge of the next big trend which is Game-Fi. There is fertile ground for some serious explosive growth going on in the bitshares space, but what are some of the shortcomings that have historically held back bitshares success?
The two main drags on bitshares success have been poor governance and low liquidity issues. Businesses want stability on governance issues when they are building their companies, and investors want liquid markets and conditions that promote business' ability to profit and grow. These poor governance and liquidity issues have plagued bitshares for both developers and investors since the beginning and have been a tough nut to crack, until now that is! We now have the technology and tools to upgrade these areas and produce an environment to bring bitshares to its full potential!
The fractal governance structure and ecosystem will solve these problems in spades. One of the benefits of fractal governance is a fast feedback loop which helps developers and business react quickly to different ideas and market conditions. This is a critical advantage to have over more bureaucratic or token weighted structures that are slow to react as risk aversion tends to arise. This will be an important tool in particular to the new Game-Fi trend as there will be fierce competition and success will depend upon ability to pivot quickly and act fast on smart decisions based upon weekly consensus meetings. Another big benefit is the incentivizing of contributions through distribution of Respect tokens based on weekly consensus meetings. This is a dynamic feature which helps ignite the productivity of team members resulting in compounding progress. It also taps the wisdom of the crowds by recognizing individual contributions from some members that might normally be overlooked. Learn more by reading the fractally white paper here
https://media2-production.mightynetworks.com/asset/39920988/Fractally_White_Paper_1.0__English_.pdf
This leads us now to the liquidity issue. Fractally is a powerful decentralized governance technology that seeks to become the DAO of DAO's. There are multiple businesses and fractals working already on how they are going grow their interests when this fractal blockchain launches soon. Fractal communities and businesses aim to be successful and profitable. The Genesis fractal seeks to build the technology, raise awareness and grow adoption of fractally and/or fractal governance, as outlined in fractally's white paper. There is an Eden Fractal group that is building on the fractally model and there are people in that community that will be integrating all of the useful EOS technology on to fractally. The BEOS team is active in the Genesis fractal weekly meetings and they too are looking to integrate their technology and businesses. Now we are building a bitshares fractal which will have liquidity access to all the innovative forces that are building in this ecosystem. I believe that in the future people will be looking up our fractal blockchain to see what the top 100 tokens are rather than coinmarketcap.
The bitshares fractal team encourages developers, investors, enthusiasts to join us in fractal governance as we seek to take bitshares to the next level. We will be able to create teams within the fractal. For example we can have members join the bitshares fractal and start an XBTS team or a Smartholdem team, etc. Teams are awarded matching Respect tokens. As teams work together we will have a weekly consensus meeting of the bitshares fractal where we will rank each others contributions. We will be able to set up a pool where we can have other fractals sponsor our community via staking. As all teams work on their respective projects and attend the weekly bitshares fractal meeting, we will be bringing tremendous energy and productivity to our lives work.
We also encourage you to join and participate in the Genesis Fractal weekly consensus meetings and help fine tune this revolutionary technology before it is officially launched in the near future.
You can join here..... https://gofractally.com/share/fe4f19Dp_4KCr9av?utm_source=manual
I’m glad to see this for bitshares.
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