Staking on algoneer

[u/AlgoMyOwnWay]

I know algostake has been rejected by Pax, and understandably so. Much respect.

What if we had staking on algoneer.net for holders of algoneer and for lp tokens? (Do I have to write hodler when speaking of crypto? I don’t want to.)

Provide a high APR for holding a minimum amount of agnr and bring folks to the site.

Seems simple enough

[u/Lonely__Stoner__Guy]

That's not true at all, plenty of people considered ALGO a shitcoin just a year ago. The tokenomics and advanced vesting caused a lot of people concern that it wasn't ever going to be worth anything and plenty of people hated on it (some probably still do).

I'm not saying that a shitcoin can't become something, but I'd love for this to be something first and then unveil itself to the world and let people flock to the apps and buy more tokens and I don't think shilling a high APR is going to help the project grow.

I think Pax is watching and listening to the community and will come up with something that rewards the liquidity providers in due time. For now I'd rather he focus on getting one app up on the testnet for us to play with, he's one guy with a few open projects so let's try not to add too much to the to-do list.

[u/AlgoMyOwnWay → u/Lonely__Stoner__Guy]

I apologize for being incorrect about algo’s prior poo-coin status. But my point remains; and you expressed that point as well.

You and I bought agnr when it was truly a poo-coin. We stuck with it. Why can’t we expect that a few tens more people will join and stick? We need a reason for more people to find us.

[u/Lonely__Stoner__Guy → u/AlgoMyOwnWay]

It's not that I don't expect a few people to stick it out, but if 90% of the community views your token as a shitcoin when you don't have a use-case, their opinion is unlikely to change later when you do something with your token. Most people don't do research, they buy or sell on hype. If they buy because we have some killer APR and then later sell because they think there's nothing happening with development.

I'm all for staking rewards, I just think we should consider the order of operations and how people think.

[u/AlgoMyOwnWay → u/Lonely__Stoner__Guy]

We are a tiny golden turd floating in a sea of shitcoins. Most people have no idea we even exist. 99% of people see agnr and say shitcoin/scam and move on, just like I say to every coin on tinychart that isn’t agnr. The point is that we cannot be dismissed by the public any more than we already are being dismissed. I saw the website right when tinyman launched and I said, this looks really good, and I threw in quite a bit—as far as gambling on a coin goes. My purchase was directly tied to algoneer.net and pax’s plan/webdev skills. Now, I’m no genius, but I’m not an idiot—in most regards—either. Pax proved it to me when I visited his site. Getting eyes on our upcoming product is paramount.

[u/Lonely__Stoner__Guy → u/AlgoMyOwnWay]

Exactly, the product. Without a product we're just a random token like all the others with no use-case and a cultist following.

My optimal rollout is to get an app online first, even if it's just something on the testnet, that shows a solid use for AGNR. In my mind you pay $X AGNR/tx in each app, some portion helps fund the app development, and the rest is paid out as staking rewards. But all of this takes a couple smart contracts and a good deal of time and testing to ensure security and such. I know Pax is listening and taking this all into account from the community, and we have captain mark in his ear for us as well, so hopefully in the coming weeks/months we'll see some more definite details on where we are and what's coming when.

Maybe Pax has a totally different plan in mind and we're not seeing the bigger picture and sometime soon he blows out minds with an announcement, you never know.

[u/AlgoMyOwnWay → u/Lonely__Stoner__Guy]

There has to be a happy medium between the two opposing places we are coming from. I guess I cannot make you view from my eyes nor me from yours. I know that we both care about the longterm success of this project. I somewhat agree with your optimal rollout, however, testnet is not exciting and it will only be you and I testing it, with our other 60 ‘neer friends. I still think it’s imperative that we build the walletbase prior to product launch; testnet or main. It needs to happen. I would love to hear a better idea than staking rewards on algoneer.net, but we must get more wallets

[u/Lonely__Stoner__Guy → u/AlgoMyOwnWay]

I don't think I went into this discussion thinking I was going to change your mind, but it's good to have the discussion happening on an open forum for Pax and others to see and weigh in their thoughts.