- Is this referring to Provide, the fixed nodes, or nodes run personally by core team members? I’ll break each one down:
A. Currently, there’s roughly 1 million PRV from Provide staked in vNodes. Divide that by 1750, and it translates to about 572.4 virtual Nodes, but we’ll be liberal and say 600.
B. 22/32 of the nodes in each shard are fixed nodes used to secure the network, so that’s 176 nodes.
C. The “core team” sounds like a monolithic organization, but it’s really just some people that believe in privacy who got lucky enough to get a job working toward a cause they feel is important. So, the number of nodes run by team members personally is both hard to quantify and mostly irrelevant since we all have minds and lives of our own. Andrey doesn’t know if I run nodes, and if so, how many, nor do I know about him. But, based on conversations I’ve had and the amounts of PRV earned by team members and such, it’s clear that 200 nodes would be a liberal estimate.
So, we can add those numbers, round up our estimate again and say the total number of nodes related to the core team in some way is about 1000 out of roughly 2775, with about 600 of those being from Provide.
- There is no exact date to end Provide, but I recently edited a post @andrey is working on that will be published soon. It states that ending Provide is one of the last steps in a 3-part plan to create a decentralized liquidity incentive structure called Add v.2. Once we’ve created Add v.2, the way rates are calculated in Provide will change (as a transitional step), and then it will be phased out. The current estimate for the process to be complete is less than 6 months. That post, which details all of the specifics (and percentages) will be published in a few days most likely.
- There is 99.9% certainty that Add rates will not be the same as Provide. The incentive structure is still in discussion, but once that post is published, you’ll see we’re suggesting adding a trading fee to the DEX, among other things. Once that post is up, it will be a good place to share any suggestions you have.
- No, just like how Provide will be phased out, so will the nodes that are staked using Provided funds. Even if they all disappeared overnight, however, that would only be a difference of about 600 nodes, which wouldn’t do anything to network stability or security. Plus, remember that we still hold fixed node slots for exactly this reason. Once all decentralized structures are in place, we can finally release those slots and the network.
- Add v.2 will be ample incentive. It’s entirely possible people will still pull out, but that’s not an issue in the long run. People value privacy, and with Add v.2 they’ll get rewarded for powering private trades. If some people let the past rates distort the value of the new situation, that’s ok. I personally don’t foresee a big withdrawal, but either way any hiccups that occur with the transition will be temporary. Those without pNodes are not out of options. They can stake virtual nodes, they can use Add v.2, or the community can create their own node pools similar to Provide. The core team wants to decentralize, but if the community wants to build their own centralized services, that’s totally fine.
- This is good for validators. Removing Provide means removing the vNodes staked with Provide, which means less competition. Plus, when the network is released and DCS is implemented, the spaces for validators to earn more than triples. On top of that, slashing may cut more of the competition. This is why it’s best to become a validator as soon as one can, because it gets more expensive to become one, and more validators join. We’re still so early in project adoption, all these changes do is reward the early adopters and refine the project. Also, these steps will not happen all at once. Everything will be transitional, so nobody will just be helplessly suspended. There are features in place to support people through the transition and keep them earning.
- You can’t market a product that isn’t ready yet. The marketer in me is biased to always marketing, and I debated (in the productive, professional sense of the word) with the team about it. But with the new direction of the project, I’ve come to realize that we need to take a few months to get everything in order, then we can open the floodgates. I’m working on getting us ready to market once I get the green light, but for now, it would be a bad idea to get new users. Funneling them to the forum would just drown them in ambiguity and scattered information about a project still in progress. It would be bad for the reputation of the project, ultimately. Before any real growth strategy, we need:
A. A website that can guide new users
B. A network and base tools that are finished and decentralized
C. Resources and easily-navigable information on the project
D. An intuitive UI
Among other things. These are what we’re working on over the next few months, after which a marketing strategy will actually be effective. You are correct in that we do need liquidity for the pDEX to be functional, which is why we’re building these new structures.
Remember, too, that the pDEX isn’t just another DEX. It’s a DEX that offers privacy, which is incentive on top of rewards to provide liquidity. There’s no shortage of believers that want to power privacy, especially if they’re rewarded. Many are already here, after all. So our current focus when it comes to growth is to take care of the members we already have that are dedicated, and find more of them through word of mouth, cross-community engagement, and building a project that does what it’s supposed to very well.
Thanks for asking these questions, they’re really thoughtful. If I haven’t given you everything you’re looking for, don’t hesitate to ask more questions or push back!