Sorry, should have clarified the point of this post: don’t take it too seriously.
It was a part tongue-in-cheek post poking fun at the low-quality DeFi “staking platforms” with no value added or actual use case that seems to be popping up left and right (essentially, ponzi schemes). Which got me thinking, could such a platform actually provide value or is it completely doomed? (I don’t want to publicly call out projects, but if anyone wants references on these hundreds (!) of projects that are treading on very dangerous BitConnect-level waters, then I’ll share in PM).
Which leads to the other point of this post: to try and get the community to slowly start thinking of actual ways to branch out FOX’s utility. I’ve been growing a list of potential new services and product lines that ShapeShift could offer in the future, that also fits the DAO’s long-term goals, is very aligned in ideologies, and could leverage its massive database to onboard users / generate buzz quickly.
I’ll give three quick examples:
I’ve been engaged with the ENS team to research potential new revenue streams by positioning ShapeShift as a registrar not only for ENS but for “centralized” gTLDs that are supported / will be supported by ENS very soon with DNSSEC (talking hundreds of gTLDs very soon). But obviously, there needs to be more value added to be actually enticing; why go through ShapeShift?
Because our platform will make it seamless to get ICANN’s registry and ENS aligned, because we offer integrated IPFS web hosting, “one-click” eCommerce site launch thats immediately integrated with crypto payments, because we offer beautiful no-code page builder tools, decentralized emails (this is a very interesting topic btw), etc…
Launching a basket of algorithmic trading bots, single-asset and triangular arbitrage bots, market making bots, ML-based prediction hedging bots, etc. Of course some of these are high risk high reward, but by allocating small amounts and diversifying in strategies have shown in my personal experience to be a great hedge and money maker.
Leveraging the growing P2P economy by disrupting some industries that are largely controlled by 5-6 megacorps (no, not file storage, that market is already too saturated and the supply is astronomically above the demand). I don’t want to give away too much info on this yet, but I did manage to get a proof of concept working and I’m finally beginning to see non-blockchain based startups trying to tackle this issue. Hint: it’s an industry that’s growing almost exponentially atm (not quite, but almost ) and is needed by every large enterprises that are serious about their research whether its for competitive analysis or for datasets for ML training. It’s also in very high demand by gray and black-hat users, and the supply at the moment can not meet the demand. Starts with a “resi”/“mobi” and ends with a “oxy.”
Of course these are all hypothetical project ideas that would be huge undertakings, but my point is there’s a lot of ways to create (more) demand and give more utility. When the time is right I will present a very detailed list of all my ideas (and I know people already hate me for my overtly detailed or long posts), but I see the next year as a very crucial time for ShapeShift DAO to show the world that a DAO can continue to innovate and create new services outside of DeFi.
Obviously there’s countless ways of bridging to/from L2, I’m not saying we should make our own bridge which wouldn’t make much sense (as you already know, I’m pushing for the xDai liquidity with high convictions), but I guess I was inspired by looking at some Tron community projects (don’t judge, I’m not a fan, but respect is due where its due) thats managed to create similar simple lending platforms to move assets around without the native token (TRX) by lending their version of “gas” – without all these complicated L2 validators, nodes, etc etc. simply by through smart contracts. The community has power to create value ourselves, and yeah this might not make sense as a DAO project, but if someone were to make something like this, I only see it as a plus to the ShapeShift ecosystem. But we need to create that culture of creation. Not everything has to be DeFi oriented. There’s a million ways to create value.
tl’dr: don’t take this seriously, but let’s prepare to make some money in a way that would benefit many, not just the DAO.
p.s. actually though, it would be a pretty cool bridge to have. AFAIK I haven’t come across a ETH L2 bridge that wouldn’t require gas spending on the mainnet side.
edit: Okay, reading my post now this was definitely the wrong category. Sorry about that folks!