Strongblock FUD vs FOMO
This is a collection of posts from David Moss dispelling certain FUD about Strongblock that is circulating around.
FUD: Is it true that my STRONG will have no value until the DeFi protocol launches?
FOMO: The very reason you will want to hold STRONG now is that you will be the first to be able to stake STRONG and earn rewards in the StrongPool. Fewer stakers, more rewards. So right now this is like a game of musical chairs: whoever holds the STRONG the day we launch gets to stake it first.
FUD: I’m worried that the team won’t deliver the DeFi protocol on team; crypto projects are notorious for not getting finished on time, or ever, for that matter.
FOMO: We are one of the few teams in blockchain and crypto who have consistently delivered not only WHAT they said they are going to deliver (EOSIO, EOS Mainnet, BaaS, blockchain projects, governance projects, all with the same team), we also deliver WHEN we say we’re going to deliver. And we’ve said that’s on or before October 1, 2020. People, it’s August 23rd. Do the math!
FUD: The team is going to take all the staked ETH, ERC-20’s, STRONG, etc., for themselves (yes, I’ve actually heard this more than one time from people who should know better).
FOMO: That’s now how staking works. The StrongBlock DeFi protocol is a staking/holding Community rewards system. You don’t GIVE your tokens to someone and then they they cash them; staking means you are willing to commit to NOT sell them for a period of time, in order to get rewards. We don’t keep your tokens. You can unstake them any time you want; you simply may not get your rewards.
FUD: The team is trading on STRONG right now, manipulating the price.
FOMO: 30k tokens were issued a few weeks ago through Bounce. 2k of those were held back from Bounce. (You can confirm this on Etherscan.) Some of the 30k went to Uniswap and Balancer to create liquidity pools for swapping. The team has not moved any of the other tokens (again, you can confirm this out of the original supply on Etherscan). What’s actually happening is that large holders (out of the 30k circulating supply, with the caveats I’ve mentioned) have created bots on Uniswap and are watching things go up and trading out, then watching things go down and trading in. Over and over and over, sometimes minutes apart. It’s what bots do. Given the small supply and (currently) limited places to swap, big swings happen.
FUD: You haven’t announced any partnerships.
FOMO: The crypto news cycle is about 12 hours, maybe less. Anything that we announce prior to launching the DeFi protocol launching will be forgotten. (Look in this chat; it’s unlikely that the first several of these FUD vs FOMO will even be read.) There will be partnerships announced, timed with when we launch. Real partnerships that bring value and communities to the protocol.
FUD: Roger Ver is not really an investor and supporter. He has 604k Twitter followers. Why would he back StrongBlock? You’re just making that sh*t up.
FOMO: https://twitter.com/rogerkver/status/1296470524542025730
DeFi with a purpose using community governance isn’t important. I just want to make $$.
FOMO: Why can’t you do both? Read this: https://threadreaderapp.com/thread/1295901616474923012.html
FUD: All the rewards initially will be coming from the 28k currently circulating.
FOMO: Current holders get a head start in a big, 4 year, 4m+ race for rewards. More supply will circulate when we launch, so more people can participate.
FUD: New STRONG circulating at launch will just increase the supply float, dilute things, and ruin it for everybody.
FOMO: People who only see this is a tradable token will miss out on 4m+ staking rewards, and getting to directly participate in governance (voting and signaling).
FUD: StrongBlock is abandoning their BaaS platform.
FOMO: Not true, but the community DeFi protocol is quite different; there is almost zero overlap.
FUD: You really aren’t going to give any rewards to nodes. That’s all bullsh*t to pitch tokens.
FOMO: Rewarding nodes (and other communities in the future) is actually the center of what we’re doing. There are 4m+ STRONG to be split (the percentage depending on community vote) between stakers, holders and nodes, over 4 years.
FUD: Other blockchain node operators won’t welcome governance led nodepools. Nodes won’t participate.
FOMO: STRONG doesn’t govern node operators; it governs the STRONG protocol. The STRONG protocol provides rewards for full nodes on blockchains where there aren’t rewards for them. Why would a node operator turn down rewards?
FUD: Exchanges and other large node operators will dominate pools and take all the strong rewards.
FOMO: The StrongBlock team is aware of the potential for gaming the protocol — especially based on our observations of the EOS mainnet. That’s why we’re putting a number of measures in place, including a lottery for selecting some nodes for daily rewards. We will also look to the Community to propose and vote in anti-gaming measures.
FUD: I don’t understand how the ranking system with signaling is set up.
FOMO: There will be real time signal data. However, we are still determining how best to share that, as we are concerned about information cascades (everyone’s signaling for Juno Alpha 2’s Node, it must be popular, so I’ll signal for it too!) There will be leaderboards and other information to inform people’s decisions. We are also strongly (pun intended) considering using a signal lottery — where top 1/3, middle 1/3, and bottom 1/3 are chosen using a RNG — for at least the first few weeks after launch.
FUD: Why is the STRONG protocol on Ethereum, and not EOS (or Polkadot or…)
FOMO: The StrongBlock team carefully examined a number of factors, and determined that Ethereum and ERC-20 are the best choices for the STRONG protocol, as it is the most widely adopted. Yes, gas is more expensive on Ethereum. Yes, other protocols are more robust. (We know; we helped build EOSIO.) Sometimes, better tech is not widely adopted due to poor marketing, bad timing, a closed community, or just bad Karma. It is what it is. Will StrongBlock work with other protocols going forward. Absolutely YES!
FUD: Is it true that SB is going to dump 6m tokens when we launch our DeFi protocol on or before October 1st?
FOMO: Not even close. It will be likely be less than 1/3 of that number, and then will be based on market demand, not dumping. Keep in mind that we are a small, closely held company with no new investors since February, 2019.