[DAO Discussion] - Top priority steps to take moving on into the future:
- Yes, we need these changes in mentality, UX and Communication
- No, we need more focus on high APY, minting and leverage and following the current strategy will yield me more profit long-term.
0 voters
Top priority steps to take moving on into the future.
Hello all, we’ve all seen TIME drop loads in the previous month. Of course loads of people were mad and loads of people did not understand the drop. I’m not here to discuss big players dumping their bag as I am not well versed into this subject.
However what I am well versed in is Human Psychology, UX/Webdesign and Marketing. I am going to explain my viewpoint as concisely as possible and I will outline some steps we really do need to take heading into the future.
There is a tldr located at the bottom as this is a long winded post.
Sifu and Daniele have been doing their best and the market is pulling us into places we don’t want to be in as well. We do however need some changes in vision. These are the most important things we need to work on as soon as possible. We’ve got a huge treasury, excellent leadership and a great manager of funds that will continue to make great decisions I’m sure of it. We as investors absolutely need steps in this direction.
My suggestion will focus on:
Our online presence.
Honesty
TIME mechanics and token mechanics we should apply and be aware of.
Communication, Online presence, Education and PR.
The recent switch to wMEMO was a good one, wMEMO is the best reflection of the current value of TIME. I’m sure loads of you know this by know but do not know the innerworkings of it. When we switched to wMEMO a lot of investors were asking why they couldn’t buy TIME, couldn’t see TIME, why TIME was dropping, how wMEMO worked and if they were still getting rebases. I myself answered around 20-30 questions. My peers did the same. The community tried their best to help. However the wells were poisoned because the whole project was based around APY and the gains you could possibly get. There was a lot of confusion. People were pointing to random AMA’s, Twitter posts and Medium Articles. Which brings me to my first suggestion.
Communication, Online presence, Education and PR.
We should use treasury to invest and update the community daily/weekly on projects we invest in.
When we have systems in place that centralize communications, users will know where to get their information. There is less FUD. And more Clarity.
We need to have a professional website, a black copy of the OHM website with a Cat worked for the first Billion Marketcap in the beginning. We’ve grown. We’re not OHM. We’re more then that. So we need to show it. We have a near Billion treasury, show it! Hire Experts that are well versed in Online communication and Design. Do you really want to still be called an OHM fork after all the effort and work that was put into this?
API’s that highlight important tweets, or recent tweets from Dani and Sifu on the main website. Medium articles that are of importance and other articles, upcoming events and investments/partnerships people should see.
A great website is sure to pay off itself in future investments and increments into the treasury in some form or another. We’re a multibillion dollar MC coin, with a near Billion treasury. Let’s act like one.
Be honest with the community
This could be included into Communications and this is the Cryptospace of course. While increasing the Treasury sometimes by 100 millions of dollars a day. I didn’t see the maturity I hoped to see.
Smoke and mirrors
The one that comes to mind is an APY calculator. Sifu and Daniele know exactly what APY is and what it does. If you understand what it does you know the most important factor in deciding profit is the Marketcap. APY is smoke and mirrors, it’s splitting up the cookie and holding more pieces of the cookie. You don’t have more dough at the end of the day. So the only thing that could increase the price of the cookie is the buying pressure of said Cookie.
APY is great in Times of hype and growing markets to make the coin grow. But what it really means is this: Pressure on the price of the TIME token. It’s almost sure to go down. And what happens when potential investors see a Black Website with a cat on it and a downwards trending trendline? They will not invest.
Loaning, loans also aided in a lot of the liquidations that coupled with the above points resulted in FUD and disaster with even our number two getting liquidated for 14-15m as I understand. This is a bad look. No hedge fund would encourage people that don’t even understand the principle of APY to leverage on that investment. It spells disaster when markets dip.
Make TIME non inflationary and develop profitshare as soon as possible.
At the TIME of making this RFC the TIME token is under $1000. There is FUD in the chat, no one knows which direction we need to take and people are complaining about losses. So let me set a few things straight here. This is how TIME will increase in value and will provide the first bit of real utility going forward. Of course all of these things are being worked on right now in the backroom. But I’m asking the community to stand behind these changes and understand the concept of it.
At this point in TIME we need the token to not increase in volume. The price pressure is insane and it will scare of new investors. Looking up the chart and seeing TIME dip and dip and dip. I’ve understood we’ve stopped Minting TIME at this point, but our central point of communication is non existent so I overheard this in our Discord.
When it stops increasing in volume we’ve set a baseline for Profit Share. This will be the first real utility of the Token. Simply holding the Token will award investors income that is non inflationary in relation to the TIME protocol. It’s real profit. Even 50 dollar a month on a 10k investment would yield more realistic gains then APY at the moment. It would put greater emphasis and use on the treasury and will get people involved in finding the best investments and growth potential in unison.
TIME not increasing in volume and adding a reward for holding TIME will increase the price. This doesn’t mean APY has no place, it’s a psychological tool that is best suited for raising Market caps and great short term paper handed investors. It could be coupled with APY on lockup of the Token, say a 3 month period for 30% APY and Profitshare. Or APY could be reactivated in TIMES of growth and prosperity to attract new capital.
The people need to understand this: The most important factor for growth is utility of the Token and that utility should result in profit for the holder. That’s the only solid way for Growth of the Protocol, not compounding APY and not Lambo Calculators. It results in crashes and paper hands.
I know the developers understand this and this isn’t rocket science for the more knowledgeable members. However we do need full focus on this at the moment. Instead of going LOAN AND APY GO BRRRRRRRTTT.
Business and/or technical requirements of the implementation of the proposal:
We need to allocate Treasury funds to build a better online presence ASAP. Daily/Weekly updates on this project are needed. Experts should focus on improving: Communication, UX Design and integrity of our online presence. Highlight our strong points, communicate clearly and provide users with the information they need to invest into the fund.
I propose a 50.000-100.000 investment looking into optimizing all of this. Employ a top-ranking Webdesign/online full stack developing company for this. The results will get paid back tenfold.
I propose to make TIME supply capped for the moment with a strong focus on Profit-share. Investments should be highlighted on the new website, so users can track what their investment fund is investing in. Prospects would be clear and concise.
In Beartimes we should honest above all other points, no one is going to get a Lambo when the coin is this young and the market is in dire times relatively speaking. No amount of APY is going to fix a falling Marketcap. No amount of loaning will yield a postive result for a constantly falling stocksplitting asset. Money that comes in on that premise is paperhanded by nature and will exit almost 100%.
TIME as a coin has fallen a lot. wMEMO has fallen a lot. Our treasury is strong 900M+, we should focus on making that cash work for us. With more drops in crypto coming please spend the according amount on a better Online Presence. I could even lead the project if there is no manpower available. As this is my job in real life. Making these adjustments now will yield us great returns heading into the future.
tldr;
We need a better online presence, central point of communication, UX and Website. Treasury funds could easily get us a top of the line product that will attract new investors 100%
Be honest with the community, Lambo calculators, APY and Loans are a recipe for disaster in falling markets. It’s building a house of cards as developers and waiting until that house is knocked over. Be honest with the community and the steps that need to be made.
TIME is inflationary, however APY is a hype mechanic for surging markets, we need Capped supply and utility in the form of Profit Share which gives the token it’s real first utility. Adding more utility in the future would yield increase in token price. APY could be added in combination with other methods in surging times to increase Token even more.