I my opinion there is a big lack of transparency between the xDai dev team and the community. They promised us eip1559, rebranding, SBC and much more in the last weeks and months. And suddenly this proposal comes out of nowhere, just a few days before the first big update is going to happen, without any statement from the team, but a cryptic statement of igor on twitter.
The community wants and deserves a explanation of the plans and past decicions.
What happend to the rebranding plans? Did Raidguild make a Branding Campaign? And if yes, will it ever going to happen? Or what happend to the plan?
What are the plans with SBC? If the merge will happen, and $STAKE doesn’t exist anymore, how do you plan to run a node? With GNO? How much? Also 32 GNO? This would be against the acutal plan to make it possible for many people to run a node….
I think many oft he negative comments here are because of that communication problem and many people could change their opinion about the merge if the team will make a detailed statement about past and future plans.
Under the new proposal, it would be 1 GNO. It is definitely a big goal to enable as many as possible to become a validator and specifically incentivize smaller individuals that run their own physical hardware.
On this note: both - the collaboration with Dappnode and the idea to start its own beacon chain have been things that were initiated by Gnosis.
No. GNO/STAKE conversion rate is way too low. Even at 0.10 GNO/STAKE I would still be against this proposal. I believe STAKE remaining a micro/med cap token with our initial rebrand in place has more growth potential than any kind of merger with a much larger organization.
I find this proposal extremely disappointing and one could argue even unethical. After delaying rebranding forever and not keeping any promises, this is what STAKE holders get? The merge would also cause tax issues for many people with the token swap so many would need additional compensation to be a breakeven deal! The worst part about it is the conversion rate. An absolute joke. STAKE holders get nothing in return, only GNOSIS holders will profit from this. Looking at the comments in Stake community telegram and POA Forum, it is obvious that a BIG majority (over 90%) are against this proposal! It would be a big shame if this merge actually happens! xDAI team listen to your community! We are against this! xDAI/STAKE has more potential on its own as the canary layer to Ethereum. Gnosis wants to scoop us up for pennies just as our advancements are coming through and bull market is taking off. Give us 3 months to enjoy some proce discovery and get out of the massively undervalued position we hold in the market then maybe we can talk. 0.0327 GNO/STAKE is an awful deal, no one with any business understanding would ever accept.
xDAI chain has been working diligently on creating the best ETH L2, and STAKE holders and validators have been holding with conviction knowing we will one day have a market cap in the $Billions. This merger takes away any upside potential from STAKE and just throws us onto a token with a much larger market cap even though our chain offers (debatably) much more value to the Ethereum ecosystem. Upon this news of this proposal GNO token increased its mcap $225,000,000 while STAKE gained a measly $46,000,000, that’s the market stating we are ~5x more valuable to Gnosis than Gnosis is to us. Furthermore STAKE has a fully diluted valuation of $170,000,000 while GNO has a fully diluted valuation of $6,000,000,000. Swapping STAKE for GNO destroys any potential for upside price potential and will likely result in less decentralization than keeping things as they were. We have a rebrand, deflationary economics, and marketing coming, in addition to many new projects launching on our chain because of its advantages. Merging with Gnosis won’t add any considerable market advantage, and it isn’t fair trade-off.
I propose at minimum a much more favorable conversion rate to GNO likely around 0.25 GNO per STAKE before this can be fairly considered. Or give us 3-4 months to go ahead with our own rebrand, EIP-1559 implementation, and SBC, let the market properly assess STAKE during the bull run and continue discussions after that.
Voted NO. Terrible idea for STAKE holders to take this conversion rate just as we our on the verge of break out and price discovery. STAKE is a $300 token when we get recognized by the market. Leave it alone please. No hostile takeover.
I said no because it definately wasn’t fair. I am looking charts now and a month ago gno price was 299, stake price 11,8 no news or anything. The rate has been measured at: 0.0394648 GNO/Stake. And that’s not even fair. Wait EIP-1559 and three months later discuss again.
As GNO and STAKE holder I am For this proposal. Strongly together! A lot of STAKE holders dont agree with valuation. I think not 100% of STAKE will be claim for GNO if proposal passes. I think it will be good to distribute unclaimed GNO between STAKE holders who will vote FOR proposal and make exchange rate better for this active supporters (bribe style).
Positive? You must not be on our xDai telegrams or discord. 95% do not want this stop your hostile take over. We all know the value of it and so do you. Makes sense for you all but not us Stake holders. Want us we need a better ratio then your low ball offer!!!
You all don’t even have close to TVL in your protocol as we do. This is a horrible move for Stake holders now and especially in the future for us long time holders.
it is like an insider manipulation by both gnosis and xdai team. they pumped GNO to ATH, while xdai team delays every announcement, including a simple rebranding since March-April 2021, and while many updates were supposed to go live soon (eg EIP 1559 within 3 days to this proposal) where STAKE will pump, now suddenly announced this and fixed GNO:STAKE swap ratio which gives dogeshit price to STAKE while GNO is at ATH, and going down, and in the process, not only stopping STAKE going up with updates, but going down with GNO correction after pumping beyond ATH as STAKE price is fixed to GNO now. How pathetic xdai team would be to kill its own community?
