The post in question can be found here.
I logged in today after a great day with family. We enjoyed the weather and hit the town. Exhausted, I was ready to hit my bed like a ton of bricks but then I casually stumbled upon the SPK Proposal.
It sounds good on paper. It has all of the right buzzwords. (It mentions NFT's at least 13 times. NFTs are everyone's favorite fad crypto bubble at the moment.) DPoS, Layer 2, IPFS, and an interesting use of "light paper" (seriously?) were sprinkled amongst the proposition. Seems like a recipe reminiscent of 2017 ICOs highlighted with modern popularity.
I'll be honest, I wasn't heavily into it but I was curious enough to keep reading. It had enough votes on the post to have earned around $200 after three hours of posting (not bad). There seems to be community support from respectable members of the Hive community.
Then this little gem hit me:
"The SPK Network tokenonmics system will, therefore, initially be built on Peerplays Blockchain, with the intention of working with the community to port it across to Hive layer 1 when the system is operating efficiently."
So hear me out, I'm admittedly an idiot sometimes. I jump to conclusions and end up being completely wrong for doing so. I may need help understanding this, but doesn't this sound like a "Peerplays first" kind of move?
Why are they asking for funds from Hive for this?
I mean I get it. We'll be receiving some semblance of a solution this way, but is it the right one?
Ned never delivered. SMT's were rumored to be less than half done at the time of the hand over to the new regime. Justin Sun performed an aggressive takeover of the chain. Dlive used our funds and moved onto a different chain (RIP). There was the infamous "ninja mine". One of our core developers left (RIP Dan).
Quite frankly, we've been through some shit as a family and I think all of that considered, we're doing great. We own this shit now. All problems seem solvable now.
Is this the solution we're going to pin our future on?
The SPK "light paper" (cringing so hard at that term), also mentions this:
"In order to demonstrate long term support for this project and assist in creating the initial SIP liquidity pools, Peerplays will utilise their own funds to create the initial liquidity pools within the SPK Network DEX/SIP."
That's nice but why not just pay for it all? Is money that hard to come by right now? Blockchain is all the buzz. Initial offerings could be collected anywhere. Hell, even our own Leofinance has an option for IDOs at the moment and the first was pretty successful. How much in funding are you working with? Peerplays I'm looking at you.
A quick scan on CoinGecko brought up this:
Results were similar on other pages as well. I'm not completely sure it was an error. Are the coffers empty? Is that why you're here? How much in funding is Peerplays putting towards this development?
It doesn't seem like they're asking for a lot. The proposal seems to ask for 400-ish HBD per day for a year.
This ends up equating to approximately $175k at the end of the proposal. It's not earth shattering. It is however enough to deserve asking some more questions.
"HIVE and HBD will move freely in and out of Peerplays to provide easy to use greater value to all token enjoyers."
Is the Peerplays community not happy with the Peerplays token itself? Why is Hive the answer? Is it because it's the easiest platform with any popularity that can be easily ported to due to the use of graphene on both platforms? Why not a bigger platform? You should be casting the biggest net right? Why not Ethereum or another popular smart chain?
A sea of red flags litters the horizon. The questions in my head continue to flow regardless.
It seems obvious to me that Peerplays needs Hive. Why does Hive need Peerplays? Do we not have enough users? Are we not continuing to grow, especially in the last couple of months?
The most important question of all:
Why not build on Hive in the first place?
I believe that we are on to something here. This moment in time I feel more positive about this community than ever before and I've been (somewhat) around here since the early days. We have to potential for some MEGA moves. Hive could be the greatest sleeper pick in all of blockchain. Most importantly, we have the critical component of any successful platform in the blockchain space, community.
I'm not saying you should torch anyone behind SPK. Put the pitchforks away. I'm saying we need to be critical here and think our propositions through. Is this something that you're voting for? Or do you need more answered questions like me?
Type your questions for this proposition below. Let's discuss them in the comments.
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I'm not saying that it's all red flags.
But it's all red flags.
Seriously bro.
Even @arcange addressed the concern of Peerplays being a ghost chain.
I can't help but think there may be complications when implementing the port and I can see it being easy to just kind of forget about it. Sorry but in my opinion it needs to be Hive first in matters that are relevant to development.
Peerplays started here and split off once already.
Before dlive did it.
Koinos, koinos, anyone?
You've put the right point on the matter and all this looks shady having to build the solution on a different blockchain. And by doing so you might have different problems and challenges and when you would try to apply it on Hive find that is not an easy task. A solution needs to start on HIVE to make sure it integrates with it from the beginning and not push problems at the end of the project and ensure its failure.
Posted Using LeoFinance Beta
I couldn't agree with this comment any more man. Followed you by the way. I appreciate the read.
We could have easily funded this, but I believe this is a great marketing opportunity for Hive to showcase our DAO building a robust layer 2 solutions. Since SPK has no premine and a fair mining launch to all Hivers, combining that with community funding over personal funding as tremendous benefits in the future.
Matt and I go into more detail here: https://hive.blog/hive-112019/@theycallmedan/lexwtoip