The first topic is only two days old, and with little or no engagement on the topic. You could have edited the first thread to add any new information you may have found on the topic. Why do you want to make it a sequel?
We decided to create a sequel for our first article for a few reasons. Firstly, the topic is broad and would have made the original thread quite lengthy. Secondly, each thread tackles different issues under the main subject. Lastly, we believe publishing in this manner encourages more engagement and makes it easier for readers to participate in the discussions that interest them the most.
The simple answer to your question is no. It's really risky to trust those Dao projects as most of them have emptied the balance of thousands of investors. I know that the centralized exchanges ask for KYC and without that they won't be able to survive but there are many decentralized exchanges that do not require any KYC, and have been operating without any issues.
The Dao projects attracted the attention of investors in previous bull run, and most of them run away with the money. I feel bad about those unlucky investors as most of them lost millions of dollars in such scam projects. Anyone who falls into trap of DAO's will be responsible for his/her losses.
I believe what you are referring to as "DAO scams" mostly reffer to rug pulls in 2021, that pulled just less than $3B that year (
https://www.coindesk.com/markets/2021/12/17/defi-rug-pull-scams-pulled-in-28b-this-year-chainalysis/). Those projects are founded on, as we call it, the lame idea of "Liquidity Pools", which are the foundation of almost all existing DeFi projects as well. Liquidity pools are essentially smart contracts that operate like a seesaw, causing token prices to rise when funds are swapped for tokens and fall when tokens are swapped for funds. Unfortunately, these pools often do not function well in normal market conditions, which can lead to issues such as rug pulls, or another problem that they called it "Impermanent Loss". (
https://cointelegraph.com/explained/what-is-impermanent-loss-and-how-to-avoid-it)
We have dedicated an entire section of our white paper to this topic and will soon be publishing an article that goes into more detail. In short, we believe that liquidity pools are not simulating a healthy market condition, and this is one of the reasons for the problems we are witnessing. To illustrate this, let's use the example of a supermarket. In a normal market, the price of a product does not increase or decrease based on how many units are purchased or added to inventory. However, in a liquiditypool-based swap, the price increases with each purchase or suddenly plummets if a large amount of inventory is added. And this is exactly what happens in most of the "rug pulls".
We are sorry for those who have lost money in these schemes and, for that and many other technical reasons, have developed a new mechanism to replace the current liquidity pools. Our mechanism removes the possibility of such losses while still allowing for a decentralized, no KYC swapping platform, and that is still the subject of our initial project.
No one else can be Satoshi Nakamoto, he was the true freedom lover and he created something really useful that's still known and working in the form of Bitcoin. Those DAO's and their makers aren't Satoshi, and trusting those organizations is not going to be a good decision for anyone.
The fact that Satoshi Nakamuto has done an amazing job does not indicate that there is nothing left to do in this field. In fact, we are still in beginning of this path. We believe that anyone with the right talent, consistency, and courage can make a difference. Finally, we define DAO as a true Decentralized Autonomous Organization, not the Defi projects that have been experienced before.
The major reasons for the introduction of the kyc was actually for the government to control money laundering and other illegal crypto activities. But the decentralized systems of cryptocurrency has made it a little bit impossible for the government to accomplish this goal. And I don't think that they will be able to create any technology soon that can control Bitcoin or cryptocurrency
Man, the controlling mechanism is already implemented and that is the KYC. When officials know that you have exchanged 1 Bitcoin to 30,000 USDT and then Bought 100BNB with it, the anonymity is already gone.
Satoshi Nakomoto has hid himself for a reason of which no one has been able to tell. And I don't think that he would just pop out of no where now just to guarantee the anonymity of cryptocurrency transaction.
No, he won't. But users will have an option to bypass KYC gates into crypto currency world and guarantee their anonymity in a few months.
And from your previous post you said you didn't know about the cypherpunk who had the vision but Satoshi Nakomoto brought it to life. If you so claim to be an elite in Bitcoins theory how come you never heard of the cypherpunk?
As humans, we are capable of arriving at conclusions without possessing complete knowledge of the facts and the history of similar ideas and actions on a given subject. Additionally, we do not profess to be experts in the field of Bitcoin theory. Rather, we are a team of inquisitive and purpose-driven individuals seeking to expand our understanding of the topic.
And I dont get the idea of your article what are you trying to tell use? Just summarize it all in one thread so we would understand.instead of creating new thread and getting everyone confused.
Our goal is to create Decentralized Applications (DApps) that simplify entry and exit from the cryptocurrency world without the need for KYC or imposing high commissions on users. The first two DApps will enable users to convert their assets into cryptocurrency and vice versa while addressing the issue of Liquidity Pools. Furthermore, they will serve as a new launchpad for crypto startups looking to launch tokens without creating a liquidity pool. Our upcoming projects will focus on addressing other user needs besides financial ones.
Our posts function as market validation surveys, allowing us to receive feedback from the cryptocurrency community and engage in direct conversations about the reasoning behind our solutions before entering the marketing phase.
