Podcast Summary
This podcast episode features two guests, Jean from MUX Protocol and Millie, discussing their respective topics. Jean talks about MUX Protocol’s application for the Arbitrum grants and its growth, while Millie discusses issues with Maker and the Lybra token migration. The hosts also delve into governance topics and the importance of these discussions in the crypto industry.
Key Takeaways
MUX Protocol’s Growth and Arbitrum Grants Application
- MUX Protocol’s Evolution: Jean, a core contributor of MUX Protocol, discusses the platform’s growth and its rebranding from a decentralized press platform. The protocol has gained traction due to its user experience and aggregated liquidity.
- Arbitrum Grants Application: MUX Protocol has applied for the Arbitrum grants short-term incentive program to attract more users and trading volume. They plan to use around 50% of the grant for fee rebates.
- Community Feedback: MUX Protocol has been actively communicating with delegates and receiving feedback on their proposal. The community review process recommended reducing the grant size, which MUX Protocol agrees with.
- Potential Early End of Incentive Program: There is a possibility that the incentive program may end early if the trading volume exceeds expectations.
Issues with Maker and Lybra Token Migration
- Lybra Token Migration: The guests discuss the short 30-day period given for Lybra token migration and the lack of initial disclosure. They criticize the unethical nature of having a token migration with a cut-off time.
- Token Migrations in Protocol Changes: The speaker questions the necessity of involving tokens in protocol changes and argues for open-ended token migrations to protect the concept of cold storage.
- Maker’s Decisions: The speaker criticizes Maker for making decisions that seem contradictory to the concept of decentralization. They express concern about Maker’s decision to liquidate users and push them back into stablecoins.
- Maker’s Unrealistic Expectations for RETH: The speaker argues that Maker has set RETH up for failure by imposing unrealistic expectations and thresholds.
Sentiment Analysis
- Bullish: The sentiment towards MUX Protocol is bullish, with positive feedback on its growth and user experience. The application for the Arbitrum grants and the potential for increased trading volume also contribute to this sentiment.
- Bearish: The sentiment towards Maker and the Lybra token migration is bearish. The guests criticize Maker’s decisions and the unethical nature of Lybra’s token migration. Concerns about future actions and governance also contribute to this sentiment.
- Neutral: The sentiment towards the overall crypto industry is neutral. While there are criticisms of certain practices, there is also recognition of the importance of governance discussions and the potential for growth in the industry.
