The podcast delves into the latest updates on the dTAO Testnet, focusing on tokenomics, network security, and the roadmap towards the mainnet launch. Tokenomics: Airdrops vs. Root Dividends • “Instead of where we did airdrops which was very expensive to do when we did that design over time the people that come to own the share of your subnet are is actually the like the community…” • “Another thing is that when you don’t have the root of selling you don’t have the mechanism decreasing the prices automatically so it’s more in an equilibrium State.” • “Both of them have benefits that outweigh the negatives but so either way that we decide I think it's pretty much ready…” - The team is transitioning from airdrops to root dividends to enhance efficiency and scalability. - Airdrops were deemed costly and unwieldy, especially with the expansion to thousands of subnets. - Root dividends aim to maintain economic security without burdening the network with excessive transactions. - This shift encourages active participation, aligning token distribution with committed community members. Implementation of Lazy Accounting • “We use something called lazy accounting so lazy accounting allows us to we don’t actually give you your dividends we we increment a total associated with a validator of which you have shares…” • “Lazy accounting allows us to not have to perform heavy on-chain operations, thus saving computational and storage resources.” • “We effectively own a share in a pool and the actual cost of the chain is substantially reduced.” - Lazy accounting minimizes on-chain computational and storage demands by deferring actual dividend distribution. - This method reduces chain load, making token distribution more scalable and cost-effective. - It also simplifies tax processes for participants by allowing token claims at their discretion. Roadmap and Mainnet Launch • “We have a paper coming out in the next week or so and then as soon as that's out and there's a bit of a comment per comment period we we'll just go straight to mayet with detau which is very exciting…” • “Subnet 24… is going to evolve into a decentralized task Marketplace…” • “We want to make sure the moment this thing goes we’re going to be fixing things we didn’t realize that happened.” - The roadmap includes releasing a comprehensive paper followed by a comment period before mainnet launch. - Subnet 24 is highlighted as a pivotal development, aiming to become a decentralized task marketplace. - The team anticipates initial chaos post-launch but is prepared to iteratively improve the system. Decentralization and Network Security Post-detau • “We need to sustain the economic security of the subnets especially when they launch and there's not a much supply of the underlying token…” • “Post detau governance and blockchain decentralization are major things…” • “After detau I think there'll be a variety of ways that we can actually build incentivization mechanisms…” - Ensuring economic security of subnets is crucial, particularly during their initial launch phases. - Post-detau, the focus shifts to enhancing decentralization and governance to secure the network. - New incentivization mechanisms will be introduced to promote validator participation and network health. Community Feedback and Future Decisions • “The response to this call was actually quite clear I got two likes for rot dibs and TOW and nine Fair air drop Alpha tokens…” • “We have to keep it right otherwise people that are speculating on price Discovery occurring via that root selling would by us changing it does not want that to be possible…” • “There's a lot of people in this audience maybe would like to have some opinion or like make a comment on that specific thing…” - Community feedback favors a more decentralized token distribution through airdrops, despite the challenges. - The team acknowledges the difficulties in balancing active participation with broad distribution. - Design decisions are treated as irreversible "one-way doors," emphasizing the importance of consensus.
Key Takeaways:
For further insights and detailed discussions, watch the full podcast: Link