xGov 166: Simon Says - Experimental ASA trading program - withdrawn

id: 166
period: 3
title: Simon Says - Experimental ASA trading program
author: SimonB (@simonbelingar)
discussions-to: xGov 166: Simon Says - Experimental ASA trading program - withdrawn
company_name: N/A
category: Community
focus_area: User Onboarding
open_source: Yes
amount_requested: 10000
status: Final


Simon Says is an experimental ASA trading project on Algorand with novel way to reposition and distribute liquidity across multiple platforms. It uses a very sophisticated method of human experience and gut feel to participate in the decentralised market. - everybody can see the composition of the wallet as it is public on the blockchain. Each ASA token in the wallet will be purchased exclusively via algorand DEXes such as Tinyman, humble and Pact.



Experience with Algorand

  • Active in Algorand space since 2021, has helped devlop multiple projects on Algorand, has an advisor role to some and has since its inception been very active in xGov program and feels it’s his duty to propose this nonsense proposal to highlight the issues with the proccess.

Present Proposal

  • With this grant request i request funds to buy select ASAs on Algorand blockchain, increase asa reserves and deposit it them to amm for liquidity, airdrop to engage algofam or simply hodl them to increase scarcity. I reserve full rights to use the funds however i see fit without any prior notice.

Benefits for the community

  • you can sleep better knowing Simon Says Liquidity proejct is doing exactly what it was created to do. Buying random ASAs establishing a diamond hand hodl narrative for the entire algofam.

Additional information

  • i might or might not forfeit the funds if the proposal passes
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While this proposals is pure nonsense, there is absolutely no valid reason to exclude it from being added ot the xgov voting session. There are multiple proposals just like this one lined up for the current xgov session, the only difference between them is they are packed nicely in an effort to deceive the expert xgovs into voting for them :slight_smile: Happy voting

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Lmao. I was reading it laughing good. :+1:

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What are the open source deliverables here? Are there any closed source deliverables?

A very fine question.
While all of our scripts used for the interaction with Algorand AMMs will be open-sourced (if we decide to do the purchases programmatically) we sadly might have to use some closed source solutions such as Pera Wallet.

This is also a great case for the Open source tag options in the xgov proposal template which should allow for more flexibility than Yes, No. It should also allow for “Partial” option.

we = me personally

other than the requested amount being far too little.
will these ASA be ethically sourced? if so by tvl? could be a good start for asa meme coin index token.

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Absolutely, we feel its unethical to ask for larger sum at this time.
If successfull we will come back next period with Simon Says V2 proposal that will build on top of Simon Says V1 pilot to further distribute and diversify the index and bring x3 value the Algorand.

on the serious note: index token could work well, but would require hourly rebalancing at minimum to stay relevant and prevent malicious actors to exploit it. Or simply allocate larger portion of it to more stable memes suchs as akita and coop and a very small portion to the hot/trending/moonshot category.

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Yes, DPI has a methodology for this. Think it’ll be a good start to build on algorand. Can a smart contract not handle rebalancing?

You can see Index COOP methodology and allocation here.
Defi Pulse Index.

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this is just a troll proposal

Who has the power to decide it’s a troll proposal?

for me its one, thats what matters to me :slight_smile:

For me it’s a wake-up call that we need “xgov governance” vote session that will help shape the framework.
The sooner it’s added/implemented the sooner we can put this all behind us.

Calling a proposal bad/trol/etc is subjective, but as long as it’s within the rules you might as well call it legit. just my 5 cents.

ps: we are all active in xgov and share views on this stuff, but for this particular voting session i decided that i’m going to argue for the other side, because somethign needs to change/move and atm nothing is.

i can call proposals anything i want, if i want to call something troll i will do it. not arguing against what you do and why do it but if you wanna argue against me i dont wanna hear it

In light of the new rules introduced to xgov framework we - this means me - am withdrawing this proposal.
Mission accomplished thank you all for participating!

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