The transition to v4 marks a major milestone in dYdX given the creation of a new app chain on COSMOs. Tldr, the COSMOs ecosystem relies heavily on delegation where users delegate their tokens to the validators of their choice, in return for staking rewards. As for validators, apart from validating t…

Well, they don’t run the node… they only lend the name. Meria is running the node in name of Ledger. So if they also outsource governance, then what are they actually doing? They don’t run the node, they don’t do governance, they don’t do marketing. So there is actually nothing they contribute, b…

they bring ledger stakers basically. If we speak about the governance most of the validators just vote yes for every proposal without any activity at the forums or discord. Only few are active By being active I mean not writing “we vote Yes because proposal is really wonderful”. I mean serious dis…

[image] RealVovochka: they bring ledger stakers basically. To where… It is more the service being delivered to hold and stake the asset possibly via the Ledger Live app. But the service is exactly compareable to that of centralized exchanges. And from them we don’t accept it, but it is ok fr…

I havent seen but I bet its an integration in ledger live app where you can stake your tokens. Of course its a little bit against decentralization and not motivating user to stake into validators that bring other value to the protocol. But what is different with CEXes in ledger its your tokens on…

[image] RealVovochka: Personally I have much more questions why coinbase cloud got a delegation. Was that mentioned somewhere in this thread? I was more referring to the list of top ranked validators according to the mintscan score mentioned earlier :stuck_out_tongue:

[image] LeonoorsCryptoman: Meria is running the node in name of Ledger. Exactly, now if Meria, a node operator, pairs with an endorsed delegate you have good specialization. Those how know how to run nodes, run nodes. Those who know about dYdX vote.

That is still not the point. Meria is operating both a validator of their own AND a white-label validator for Ledger: [image] I don’t think we should promote white-label validators, before you know it half of the set is controlled by one party. And where are we in that case with our drive for dec…

I guess we can agree to disagree. Geographically it is very hard to run a node outside of Asia atm, because latency will mean you miss a lot of blocks. We have tried :wink: Wrt decentralization: Right now both the Ledger and the Meria validator will make similar decisions. But with x/authz being …

[image] rspa: What’s more concerning to me is that the top two validators control 36%… Thankfully these are trustworthy operators, but in terms of censorship resistance and decentralization it is not ideal. Oh yeah, that is indeed a serious issue. Totally agreed on that one. But the answer t…

[image] LeonoorsCryptoman: But the answer to it is to attract more unique validators, not white-label ones… otherwise you are just introducing a new issue down the line. It’s definitely something to keep an eye on! I 100% agree there. Meria is transparent about its white-label operations. Oth…

Governance Transition to v4 : Supporting Endorsed Delegates

Governance/DAO Discussions

RealVovochka February 26, 2024, 4:17pm 62

BTW In a next thread, @rspa and StableLab have proposed an excellent program that will better engage the community and address the issues I described in the previous post.

Topic		Replies	Views
Endorsed Delegates - Profile and Pitch Governance/DAO Discussions	27	4084	December 3, 2023
Request for Comment - Governance Improvement Grants Grants	22	2483	November 27, 2023
Cosmic Delegates? - Flipside releases research report Governance/DAO Discussions	10	858	August 17, 2023
A Take on Good Practices for dYdX Chain Validators and Stakers dYdX Chain	14	3821	October 18, 2023
[DRC] dYdX Community Staking with pSTAKE Finance Proposals update , community-input	46	3491	April 11, 2024

Governance Transition to v4 : Supporting Endorsed Delegates

Related topics