Parachain Slot Auction on Polkadot Community Funds

First, let me state I believe Anchor Protocol will be the “foot in the door” for DeFi in a way that leads to mass adoption by the general population. Everyone understands money, everyone understands a bank, and everyone understands interest APR.

However, from my prespective, and only in my opinion, we as a community are not getting exposure, and the necessary amount of capital invested to lead to mass adoption. We aren’t even close. The first week we had a big influx, and its been about a month of stagnant growth.

I propose that we launch and on Polkadot by bidding at an auction for a parachain.

I know this is not necessary from a functional standpoint. However, being listed on every major exchange globally as “a new parachain project launched on Polkadot” would lead to billions of dollars in the savings and billions of dollars being loaned.

We would all benefit from the immediate spike in ANC and MIR tokens which prices would probably moon overnight. LUNA and UST would also skyrocket.

Let me know what you all think, We have plenty of money in the terra community pool to do this. And cosmos as a blockchain doesn’t offer anything Polkadot does not. And with Chainlink integrated into polkadot substrate the options for our stable coins, and trading platforms grow 100 fold.

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Thank you for raising this issue. What other possible solutions could be implemented?

I don’t think this is necessary. Anchor has been around for a month, word of mouth will be just fine. And my understanding is that the IBC will make integrating DOT a piece of cake.

And I think you’re underestimating how much slot auctions will cost (in my humble opinion).

With all due respect,

PDEX, a polkadot project which had it’s ido and ico a couple weeks ago, is literally a perfect DEFI platform. It’s launching it’s mainnet soon.

That project has huge huge buzz and millions of page views simply because it launched on polkadot. Additionally, Polkadot is nothing but a blank canvas which negates any need for developers and other blockchains to worry about interoperability with

We have the best idea in DEFI with Anchorprotocol and MirrorProtocol and UST/LUNA.

I mean this respectfully and would welcome all further discussion or counterpoints. I think you underestimate how much money is in the community pool. Every single time we print UST we take a portion of the burned LUNA and set it aside for community projects. There is over 260 million LUNA in the community pool.

Money isn’t the issue. Getting the idea of 20% fixed interest saving account out in front of the DEFI industry and the mainstream (not crypto user today) public is. Also, quite honestly, Cosmos has a lot of issues we’ve run into and etherium sucks. Polkadot offers Intergrated oracle (chainlink) in substrate. Polkadot offers a BRAND NAME (not anchor) for people to feel their investments are secure. Frankly, I don’t know why there would be opposition to this idea.

PDEX launched and had $2 to $19 token value now. ANC launched and went $3 to $7 and then here we are. We could also collaborate and work with an encredible amount of developers. Let alone we can launch fully live in test net if we want on fully sharded Kusama first to experiment with insane technologies before transferring to polkadot.

Polkadot just is going to be the center of DEFI. As for auction price, yes, but what will it cost if someone else gets there first.

Additionally, sorry we have 100,000,000 ANC in community pool.

So half a billion dollars.


Building out a parachain isn’t just a matter of slot costs. It’s also a matter of development resources at TFL, for what would essentially just be advertising. We don’t need their validator network. We don’t need the relay chain. Once we’re using the IBC interoperability will not be an issue.

Strong disagree that DOT is going to be the center of defi. It will be one L1 chain among several, which will all have their own defi hubs. I think you’re underestimating the level of interopobility we will have in the future.

Okay. I very much appreciate that perspective and information. I’m just trying to figure out some way to use the available resources we have to take Terra and the incredible anchorprotocol and mirrorprotocol into the spotlight.

So many of the people (non-crypto users) I think would mass adopt the idea of 20% fixed savings if there was just a way to somehow make it trustworthy or part of a larger group or movement.

UST is doing great and I’m sure interoperability will get better, but the problem lies in (again my own conversations) that regular people do not believe 20% interest is possible. I’ve heard “ponzi scheme” or “fake money in a fake bank” etc. It’s also difficult to understand why they have to buy UST or LUNA somewhere else outside the site (an exchange) to use this.

Maybe a lot of these issues for mass adoption could be solved by having the terraswap available and fiat payment was acceptable through the home page for LUNA, ANC, and UST.

What do you think? The same way ANC and UST can swap in governance. Just someway of purchasing LUNA or UST and swapping on the home page.

Ah okay I see where you’re coming from. You’re frustrated that there’s not an easier way for people to get into anchor.

Firstly, I completely agree with all that you just said. You may not be aware though that some fiat onramps are already being built. Kash, Saturn Money, Local Terra, etc are all third party apps being built to get normal people into the ecosystem.

And for crypto users, in the not too distant future folks will be able to deposit dot, sol, and a number of other assets into anchor.

Integrations are coming, there’s no need to worry.

Lol yes it’s frustrating to not be able to convince your father or friend or someone at work that they don’t have to keep getting screwed at the bank with 0.2% interest in their savings account or that cryptocurrency can provide a stable fixed return 100x better than the bank without volatility.

It’s not for me. I love anchor and I’ve got 15% of my investments in savings here. I also have bonded a ton of Luna to bLuna to take out a Loan in UST I just bought ANC with and staked the liquidity pool.

The frustration is that for this to work (DEFI) we need mass adoption. Anchorprotocol and is what made me invest in LUNA and MIR.

If we can offer the world 1. A savings account; 2. A stablecoin (which they just think of as a dollar); 3. An easy way to deposit and withdraw. 4. 20% APY———-

That is what will make defi mainstream. Everyone in the world understands (not all have access now) $1, bank account, 20% APY.

The issue I see with 95% of defi is there is no on-ramp for normal people that requires zero understanding and never requires understanding to get stable fixed returns from crypto.

I think Anchor savings is the trillion dollar idea. But I can’t get people to put a dollar in because you have to explain too much to them before they can access the system. We take years of crypto experience for granted. Normal people might know what BTC is, but buying BTC, then sending it to KuCoin or Binance, registering your ID, then trading to UST or LUNA, then downloading Terrashuttle, then sending from exchange to terrashuttle, then bonding it to a webpage that has nothing on it that resembles a bank——it’s too much still.

Just like BTC won’t replace fiat until you can buy a cup of coffee at Starbucks in 1/2 a second with it, Defi won’t replace the bank until we cut out all the extra steps and streamline the process so it’s as easy as

  1. 2. Buy UST, LUNA 3. Deposit/withdraw UST/LUNA.

  2. There is no four lol it needs to be that simple

I apologize everyone . What’s is the best action for anchor right now ? Can you guys let me know please and can someone from anc dm me please

Hello, first sorry for my english
I don’t understand what issues is on cosmos ?
Cosmos seems to me better, first it works, polkadot still incoming project, cosmos and IBC design is better than a central relay chain.
Cosmos with shared security will be able to do the same thing as polkadot if needed.
I hope Anchor will enable bAtom as collateral, as Atom holder I would like to be able to use anchor with my Atom in a trustless way
Enable IBC already works (Iris and Akash already done that)
And nothing to pay in DOT or any other coin