Some of my Twitter thoughts on the direction of LuaSwap

Archive LuaSwap
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LuaSwap protocol is governed by LP community, while the core team is the key technology parner.

The economics of $LUA https://twitter.com/longvuong22/status/1312235884817727489

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Some things that imo are really needed to at least start discussing before having any meaningful votes or changes for Lua swap:

  • Process for proposals, with guides for the community
  • Have some quorum introduced
  • Look at adding LP tokens, or locked tokens, for voting. As currently LPs may have no voting power, and many of these have a far longer term outlook than someone that has simply bought Lua
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I think LP community would welcome a concrete proposal.

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This sounds great. Only thing I can see is how to make exposure to $lua attractive for serious cash to flood in.

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Gus I agree here. The proposal process needs to be built. As for quorem, I am uncertain - as if you don’t give a reward for voting, many tend not to vote. You mentioned some kind of voting tokens… yes, if you have sold your 25% LP reward, but still technically own thousands more in lock-up, it sucks that you cant vote with them. Most LP whales I have heard from, sell their 25% up-front.

I am creating a new vote around improving proposal quality. There is too much crap ones with small description or even wrong format (asking a question). I think we should add:

  • Require LUA to create new proposal (even small amt)
  • Provide a skeleton format in text of new proposals, such as “Description, Motivation, Vote… etc”
  • Encourage linking to discussion
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I agree on the need of better proposals.

I don’t agree on your sympathy with the whales who dumped and made their money already. If it were possible I would propose to burn all locked tokens. But in reality whales will dump again a whole year long - starting in January…

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