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Executed
Requested:
720.00 KSM
#450 Retroactive funding for development of KSM.FUN. Pre-launch phase on Kusama as parachain.
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I am rust.dev and I am super bullish on Kusama.
I believe that our Wild Bird Kusama is the perfect place for chaos, experiments and now fun.
As current market narrative of meme season and one click tokens deployer as pump fun(Pump.fun daily revenue outpaces the next 24 protocols combined) or sunpump meme(1M$ in revenue in 11 days) showed that this kind of product on top of tron and solana L1 solution has got those ecosystems up from the knees.
KSM.FUN is a parachain:
— UMP/DMP XCM trasnfer configured for parachain runttime to support transfer of KSM from relayer chain and back.
— Kusama (KSM) is native currency FOREVER.
— OpenGov for KSM holders. Similar to kusama open gov but just faster track to make desision faster.
— Native dex.
— 0% fee on trade compared to 1% each trade fees on pump.fun (this improvement will allow to bring a lot of volume and users to Kusama)
— Integration of Assets pallet. Config prevents RUGS so it is ONLY possible to create a token via launchpad extrinsic.
— Simple user flow to execute only 1 Launchpad extrinsic that:
— creates a new (meme) token. For example GLITCH .
— creates a pool of new tokens with KSM. LP KSM-GLITCH deploy liquidity.
— buys the desired amount of tokens from the pool in the same extrinsic. (optional)
I won the last parachain slot in Kusama history. It was called Memecoinchain. But since then it has changed its name to KSM.FUN that I believe is more vibrant to attract more users and activity into the Kusama ecosystem. So in the next few weeks KSM fun will be deployed as parachain.
All logic and functionality is tested with a zombienet and contains the polkadot version to support 6 sec block time. We are team of 3 devs, 2 blockchain substrate rust devs and 1 Front-end Web3 Dev.
I am actively developing bridges and DeFi for the polkadot/kusama ecosystem during the last 4 years.
This is my first treasury proposal on Kusama.
My contacts:
Github: https://github.com/rustninja
Linkedin: https://www.linkedin.com/in/rustdev
Telegram: https://t.me/rustninja
Youtube channel about polkadot/rust substrate development about.web3.online.
Source code of ksm.fun parachain for Kusama.
https://github.com/ksmfun/ksmfun
— DEX pallet. create pool, add/remove liquidity and trade
— Integration into KSM FUN logic into runtime: https://github.com/ksmfun/ksmfun/blob/main/templates/parachain/runtime/src/configs/mod.rs#L163-L235
Here is a video of testing KSM.fun on polkadot js overview of functionality of creating new tokens in one extrinsic and starting trading them immediately.
Thank you for your time and support.
I am glad to hear any feedback and opinion from you Kusama bulls.
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Users are saying...
Based on all comments and repliesKSM.FUN provided detailed answers to questions regarding Kusama eco and its development process. They discussed their efforts in making registration for parathread IDs more accessible, funding research and development projects, and improving the developer experience within the Kusama ecosystem. Additionally, they addressed queries about documentation languages and support from W3F.
KSMfun responds to questions regarding their Kusama project, discussing topics such as registration costs for parachain IDs and developer funding. They mention a referenda on reducing registering costs and express intentions to improve the ecosystem. Additionally, they address inquiries about documentation languages and support from W3F, while also asking what version of ChatGPT is being used.
KSMfun responded to a series of questions regarding their proposal on Kusama eco, addressing topics such as parachain registration costs and developer funding. They highlighted efforts to reduce barriers for developers and improve the ecosystem's vibrancy. The summary reflects KSMfun's commitment to continuous improvement and stakeholder engagement within the Kusama community.
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Bringing more users to the ecosystem - exactly what is needed for the KSM pump!
Dm4u...1Xkk
So its like pump.fun for KSM right? You see its already decreasing interest on Solana. Do you think its still actual?
Gqrk...Bogy
@Dm4uKxZJZHJbpZpfnYPiHnbgyHWKMU1s5h6X7kqjfYv1Xkk
Yes. exactly, with more cool features that attract users and even give them 0 fee % on trade compared 1% on each trade that exists on pump fun.
Interest on solana is very huge and even if it decreased a little bit it is just sunpump.meme platform on tron took a huge chunk of degen attation to try and play memecoins on tron.
Dm4u...1Xkk
I am not sure about the exact success of the meme use case, but I do support the KSM.fun idea in general. Think about a small game for money. I vote AYE for this proposal. We need such a passion about Kusama from the all devs and teams.
H1qz...KUFs
It's good. I hope this project succeeds.
Di9w...Za8x
Nay, explained here:
Gqrk...Bogy
@swader
Thanks for you comment.
Updated the description. not solo but team of 3 devs. 2 Rust/blochain devs and 1 web2 Front-end dev.
As I understood here is your 3 points why you voted so
- solo dev. Updated. not solo but team of 3 devs.
- recreating a dying meme. How many more cryptro trending naratives kusama should skip to finally be outside of top 200 coins? Why it is dying meme? Current narative is memecoins via launchpad, binance -> four.meme, tron sunpump.meme, solana pump.fun, avalanche and so on? why do you always try to force stay kusama behind the current market trends?
- the purpose of which is at best gambling, and at worst rugging. Market demand creates oportunities? Bruno? What ecosystem are you working now? Where is rmrk? what is your interest of success of kusama? as I undestand you migrate to other chain and has no bag of KSM or any interest of kusama success but only voting with a delegation from parity. Please, think are you really interesting in kusama success or just tying to pull it down because no personal bag of KSM tokens?
DDCN...23EF
1- When you say "sunpump" it appears you are referring to SunPump https://sunpump.meme, which uses Sunswap SUN.io decentralized exchange (DEX) on the Tron network?
2- When you say "pump fun" it appears you are referring to Pump Fun https://pump.fun, which uses Raydium decentralized exchange (DEX) on the Solana network?
3- In your proposal why haven't you mentioned Only Fun https://only.fun that uses Hydation decentralized exchange (DEX) on the Polkadot network?
4- In your proposal you say "KSM.FUN is a parachain" (previously known as Memecoinchain) that provides "UMP/DMP to support transfer of KSM from relayer chain and back.", is my assumption correct that the UMP/DMP definitions are as described in the Polkadot Wiki https://wiki.polkadot.network/docs/learn/xcm/reference-glossary#ump-upward-message-passing ?
5- In your proposal you say "Kusama (KSM) is native currency FOREVER". How are you going to guarantee that the native currency of Kusama (KSM) is immutable on KSM.FUN so it cannot be changed through votes and on-chain upgrades by "OpenGov for KSM holders"?
6- In your proposal you say "Kusama (KSM) is native currency FOREVER". How are you going to guarantee that the KSM.FUN parachain runs "forever"?
7- In your proposal you say KSM.FUN will have "0% fee on trade compared to 1% each trade fees on pump.fun (this improvement will allow to bring a lot of volume and users to Kusama)". Is that improvement sustainable, if so how long will that 0% fee last for? Is it only going to remain a 0% fee as long as you receive ongoing funding from the Kusama Treasury, or how else are you going to fund the parachain? If you don't receive further Kusama Treasury funding and you increase the fees too early do you project that will cause a lot of volume and users to leave Kusama?
8- How is the KSM.FUN OpenGov going to vote to remove tokens that remain inactive and without any or adequate liquidity?
9- What are the plans of KSM.FUN after its self-funded parathread ID 3350 lease from auction 138 ends on February 25, 2025 as shown here https://parachains.info/details/memecoin_chain?
10- What approach are you going to take to legally structure the legal entities of the KSM.FUN Decentralized Autonomous Organisation (DAO) and its decentralized exchange (DEX)? What jurisdiction(s) will you use for incorporation to register its legal entities? Is it going to be registered as an ownerless legal entity, like a DAO foundation, referred to as DAO Legal Wrapper that will aim to protect DAO members from unlimited liability and implement the decentralized governance of the DAO?
11- Where is the list of all the financial and crypto regulations that you are going to comply with to be a successful DEX where people can safely perform their transactions and keep their assets secure when they use it buy and sell any coin and has or is this going to be defined by a legal professional after examining the KSM.FUN business model? How are you going to comply with the MiCA (Market in Crypto-Assets) regulation in the EU that makes virtual asset exchanges comply with more strict regulations after its adoption in 2023? Is the KSM.FUN DEX going to be in a jurisdiction like the United States that requires the DEX and its administrators to register as a money services business (MSB) with Financial Crimes Enforcement Network (FinCEN) or similar equivalent and comply with AML/KYC/CFT requirements? Is the state of the jurisdiction where it is registered in going to require it to obtain a money transmitter license to operate within their borders?
12- How will KSM.FUN use XCMP?
13- How will KSM.FUN use HRMP?
14- How will KSM.FUN integrate with other DEXes, particularly those in the Polkadot and Kusama ecosystem?
15- What documentation will KSM.FUN provide and what languages will be supported?
16- What market cap does a token have to reach on the bonding curve from people buying it on KSM.FUN before a proportion of its liquidity is then deposited into the KSM.FUN DEX and all liquidity provider (LP) tokens are burned, and what proportion of its liquidity will be deposited into the KSM.FUN DEX in that instance?
17- How will KSM.FUN DEX ensure that its users control their assets by holding custody of their wallets, where neither yourself or your company or Decentralized Autonomous Organisation (DAO) if any that is behind the KSM.FUN DEX, nor the owners can access the user's asset, and where the token swap protocol is ownerless and non-custodial, so it only manages user transactions autonomously?
18- In your proposal you say "OpenGov for KSM holders". Is this referring to the Decentralized Autonomous Organisation (DAO) if any that will be behind the KSM.FUN DEX where its members vote in a decentralized way for the protocol's strategy, manage its principles of work, commission sizes, and treasury, if any? What governance pallets from the Polkadot SDK will you use?
19- Where is the KSM.FUN whitepaper and protocol strategy?
20- What Crypto licenses are you going to try to get granted to KSM.FUN for its DEX by a financial regulatory authority in chosen jurisdiction to comply with regulations? Is it going to require authorized capital, AML/KYC/CFT compliance, and annual audits, and if so how is KSM.FUN going to fund that?
21- What Fintech licenses are you going to try to get granted to KSM.FUN for its DEX by a financial regulatory authority in chosen jurisdiction to comply with regulations to allow DEX conversions from crypto to fiat and vice versa? Is it going to require authorized capital, AML/KYC/CFT compliance, and annual audits, and if so how is KSM.FUN going to fund that?
22- How are transactions on KSM.FUN going to be censorship resistant?
23- How is the KSM.FUN DEX going to offer improved privacy compared to other DEXes?
24- How is the KSM.FUN DEX going to maintain an adequate level of liquidity?
25- What measures is KSM.FUN DEX going to implement to prevent being used for money laundering and terrorism financing?
26- How is KSM.FUN DEX going to allow anonymity and make it difficult to trace transactions and identify the parties involved, which could make it an attractive option for those seeking to launder money or engage in other illicit activities?
27- How is KSM.FUN DEX going to make regulators across the globe view it and Kusama favourably compared to other DEXes?
28- Is the KSM.FUN DEX going to centralize any aspect of its DEX management, such as its order book (list of buy and sell orders waiting to be executed) management, including order matching (choising criteria to execute trades based on), order management (control of order lifecycle management such as submission, partial fulfillment, and cancelation), and liquidity management (control such as incentivising liquidity providers to supply liquidity to the order book to ensure sufficient liquidity in order book to enable efficient trade execution), which could increase regulatory scrutiny of the DEX?
29- How is KSM.FUN going to check what additional regulatory requirements are required depending on whether the assets being traded are actually considered to be securities (which may be subject to same registration requirements as traditional securities exchanges), utilities, software, or commodities (which may be subject to regulation by commodity trading regulations to avoid being illegally offering unregistered derivatives contracts like BitShares)?
30- How is KSM.FUN DEX going to conducting customer due diligence (CDD), comply with AML/CFT, and report suspicious transactions to the appropriate authorities?
31- How is KSM.FUN DEX going to follow the Financial Action Task Force (FATF) or similar equivalent guidances and recommendations, such as Conducting Customer Due Diligence (CDD) by implementing adequate AML/KYC/CFT policies and procedures for identifying and verifying the identities of their users in a privacy preserving manner to avoid being criticized by regulators like Shapeshift, EtherDelta or BitMEX, implementing risk-based AML/CFT programs to identify and mitigate the risks of money laundering and terrorist financing on their platforms (e.g. implementing decentralized transaction monitoring systems, conducting periodic decentralized risk assessments, and providing AML/KYC/CFT training to OpenGov KSM holders and associated collectives to avoid investigation by regulators that may be focused on its decentralized governance structure and trading activities like Uniswap), and reporting suspicious transactions (using procedures to report them to appropriate regulatory authorities)?
32- Noting that this is a retroactive funding request (rather than a request for funding upfront prior to commencing the work), where your proposal says it is for "development" of KSM.FUN and the "pre-launch phase" of KSM.FUN on Kusama as parachain, and is requesting 720 KSM (which is ~13k USD at the current exchange rate of approx. 18 KSM/USD), but there is only evidence of commits on 9 days over a 2 weeks period at https://github.com/ksmfun/ksmfun. Where is your detailed timesheet? If those were the actual days that you did the work then why isn't this funding request for 360 KSM, which equates to half the amount requested at 8 hrs per day over 9 days at 90 USD per hour (i.e. 8 * 90 * 9 = 6480 USD or 360 KSM, instead of 720 KSM)?
33- Does the retroactive funding request include the video that you created that shows the steps involved in using KSM.FUN?
Noting that it shows how to create a new asset as shown here https://youtu.be/yzbVWxLXwQU?feature=shared&t=70 at 1:10 it automatically creates an creates a liquidity pool (LP) and deposits the total supply of that asset along with the KSM token to the pool. It also shows how to exchange the new asset for the KSM token and how to configure how much liquidity to immediately add to the LP using using extrinsic dex > ksmFunNew.
34- Why was the KSM.FUN source code not published open-source at https://github.com/ksmfun/ksmfun until 2 weeks ago?
35- Will each coin on KSM.FUN be a fair-launch with no presale and no team allocation?
36- How does KSM.FUN plan to differentiate itself with its KSM.FUN DEX from KSM Starter https://x.com/KSMStarter_Help that is said to be "Kusama's first launchpad" https://ben-e.medium.com/ksm-starter-kusamas-first-launchpad-d8fd54f9258d?
Note that their history is described here https://karusstarter.com/what-is-kusama, and from memory they partnered with teams like the Integritee parachain for the Initial DEX Offerings (IDO) launch of their TEER token public sale on Gate.io Centralized Exchange (CEX) https://x.com/KarusStarter/status/1465667430227722242, instead of a DEX on Polkadot or Kusama, after Integritee was not able to secure a Kusama parachain slot, and that caused controversy in the community with their use of the "KSM" branding but then not being exclusively dedicated to the Kusama ecosystem since their timing coincided with crowdloans. Later they rebranded to Karus Starter https://karusstarter.com since they now use a different X account that starts in August 2022 https://x.com/KarusStarter.
37- How do we know that multiple other developers didn't also start working on almost exactly the same idea of a "one click token deployer" for memecoins as you 2 weeks ago and intend to also request retroactive funding for it after your proposal gets approved? If that were the case would OpenGov be expected to only fund your proposal since it was the first one that submitted a retroactive funding proposal, or all of them, or would OpenGov expect you to refund the requested funds back to the treasury?
38- What "value add" has your "development" work on KSM.FUN provided to the Kusama ecosystem to date that you believe warrants the Kusama Treasury to reward and fund your proposal, where the only promotion appears to be the video on your web3.online YouTube video channel that has 3.77k subscribers, but there is no little evidence of adoption with only 2 likes including my own and only 13 views since it was published 3 days ago? Or does it just represent "work done" and should be left unfunded until further evidence of "value add" is provided?
For example, it appears that a precedent was set that in the approval of this referendum https://polkadot.polkassembly.io/referenda/1033 that unless there is a "value add" then funds should remain with the treasury. That referendum claimed that the bounty and its parent curators had "realistically done nothing except pay its curators", even though there was meaningful "work done" since January 2024, and where that administrative work had been approved by the Polkadot Treasury in referendum https://polkadot.polkassembly.io/referenda/562, and despite most of their non-admin work remaining unpaid, as shown here https://x.com/AMIPolkadot, yet leaders in the ecosystem requested on X for one of the parent curators (myself) to return their income to the Polkadot Treasury https://x.com/shawntabrizi/status/1816531864066359314, which they did here https://polkadot.subscan.io/extrinsic/21804914-2.
39- Why should this retroactive proposal only fund what you have built without adequate evidence of how you intend to promoted it? Reference: https://x.com/rphmeier/status/1810031618490581242
40- How would your "development" work to date represent a retroactive milestone payment that contributes to "degen communism"?
41- How accurate is my comparison below of the existing "one click tokens deployer" options of the "current market narrative of meme season":
- KSM.FUN (previously Memecoin Chain)
- Website: https://memecoin.xyz
- Network: Kusama
- DEX: Parachain Native DEX
- Tokens Listed Quantity: 0
- Total Market Cap of all Tokens: 0 KSM
- Benefits: "0% fee on trade", "native DEX", "OpenGov for KSM holders", "Kusama (KSM) is native token FOREVER", "Integration of Assets pallet. Config prevents RUGS so it is ONLY possible to create a token via launchpad extrinsic."
- Process: create new asset, buy or sell any coin at any time on the bonding curve to lock in your profits or losses, upon creation of the new asset it automatically creates an creates a liquidity pool (LP) and deposits the total supply of that asset along with a KSM tokens provided by the creator to the pool.
- Only.fun
- Website: https://only.fun
- Network: Polkadot
- DEX: Hydration
- Tokens Listed Quantity: 35
- Total Market Cap of all Tokens: ~11779.56 DOT (~49.3k USD, as at 2nd Sept 2024, when DOT/USD was ~4.19)
- Benefits: "prevents rugs by making sure that all created tokens are safe. Each coin on only.fun is a fair-launch with no presale and no team allocation".
- Process: create new asset, buy or sell any coin at any time on the bonding curve to lock in your profits or losses, and when enough people buying a coin on the bonding curve and it reaches a market cap of $60k then $12k of that coin's liquidity is then deposited in HydraDX and all liquidity provider (LP) tokens are burned.
- Pump.fun
- Website: https://pump.fun
- Network: Solana
- DEX: Radium
- Tokens Listed Quantity: 50
- Benefits: "Pump prevents rugs by making sure that all created tokens are safe. Each coin on pump is a fair-launch with no presale and no team allocation."
- Process: buy or sell any coin at any time on the bonding curve to lock in your profits or losses, and when enough people buying a coin on the bonding curve and it reaches a market cap of $69k then $12k of that coin's liquidity is then deposited in Radium DEX and all liquidity provider (LP) tokens are burned
- SunPump
- Website: https://sunpump.meme
- Network: Tron
- DEX: Sunswap Sun.io
- Benefits: "secure and verifiable token contract https://tronscan.org/#/contract/TTfvyrAz86hbZk5iDpKD78pqLGgi8C7AAw". "no presale". "no team allocation".
- Docs: https://docs.sun.io/get-start/sunpump
- About: "meme fair launch platform"
- Process: buy or sell any coin at any time on the bonding curve to lock in your profits or losses, and when enough people buy a coin on the bonding curve and it reaches a market cap of $69420 then $12k of TRX coin's liquidity is then deposited in Sunswap DEX and burned
Gqrk...Bogy
what version of chat gpt do you use?
DDCN...23EF
I have never used Chat GPT. I reviewed your proposal, thought about it, did some research, and manually wrote them all.
If KSM.FUN chooses to answer my questions, then I think the way it chooses to answer them may provide an indication as to whether KSM.FUN has any disregard toward the diversity of stakeholders that are voting and providing comments and feedback on its proposal, and its attitude toward continuous improvement and the developer and customer experience it will provide to differentiate itself, and whether KSM.FUN will endeavour to protect the Kusama ecosystem through its actions.
Gqrk...Bogy
@ltfschoen
1. yes.
2. yes.
3. i did not mentioned only.fun, i also did not mention four.fun on Binance Smart Chain and snek.fun on cardano, op.fun on bitcoin L2 network and few others.
4. UMP/DMP is the definition that declare mechanism of moving messages from relay chain to parachain and back. By default it enabled but xcm configuration on parachain side does not support the accpeting DOT/KSM tokens from relay chain and did not support transfering KSM back to relay chain. because it requires extra pallets configuration and integration so KSM.fun now support moving KSM to and back as a ready for prodaction source code. So regulary all parachain introduce their own native currency and it requires extra pallet as assets or orml token to map the KSM XCM message transfers to the specific asset id. In KSM.fun parachain implementation KSM is the native currency and all others is foreign assets.
6. As you notice that now having coretimes anyone can assign cores to any parachain, it is similar that anyone can add extra SOL to solana account to pay rent for storing data. So KSM.fun is open to anyone run collator and anyone can assign coretime to paraid 3350. I as developer do not have any control on parachain at all. Even if I locked my own 400KSM to register para id I am not able to kill this para id so it is possible via kusama gov or via gov on KSM that under full control of KSM holders too. Here is the docs on polkadot wiki
It is possible to deregister the parachain and withdraw the deposit if the parachain has not produced any blocks. If the parachain produced blocks, then the parachain can only be deregistered through the relay chain's governance.
As KSM.fun already produced few block and now is stoped to prepare to deloy the final KSM fun runtime I have zero control to kill the chain or take any funds from it or even take my locked 400KSM that i locked forever as a launch process of KSM.FUN.
7. It is up to KSM holders to decide when change the trading fee. For my perspective as I already said I already locked aroud 450KSM to register chain and win last parachain on kusama. You can check my KSM.fun kusama address that created this ref and you would notice that I have some KSM to get enogth rewards per MONTH (around 200KSM) to buy core time using my own money.
But KSM holders on KSM.fun have full control to change the trading fee. My personal interes to pump kusama instead of just earn something for my self from KSM.FUN.
8. KSM.fun holders can vote todo anything. the same it happen on kusama open gov. Anyone can create refferenda to burn liquidity or apply new runtime upgrade.
9. I am ready to buy coretime and assign to KSM.fun parachain. So as you noticed it is project only for profit for all KUSAMA eco.
10, 11. THis ref is retroactive for development of chain that belong not to me but for kusama. I am not a CEO it is decentralized project from the begging in the hands of KUSAMA holders.
12. XCMP (Cross-Consensus Message Passing)
KSM fun use it to support transfers of KSM to and back..
13. HRMP is a message transport protocol, but passes all messages via the Relay Chain. The key word here is VIA
It is up to KSM holders to initiate HRMP connection with any chain other parachain as Asset Hub, bridge hub to support DOT as a extra currency and so on. I am not a CEO of KSM. fun i locked my personal funds forever to run this project and bring some trends to kusama that are succeseful on other chain and have huge demands from crypto community.
Kusama as from my perspective is prety naked only having "good tech", open gov and amazing comunity but more devs and prodacts, chains what kusama needs.
14. Is the any dex on polkadot that support KSM? HydraDX does not support KSM on their platform, the big question why? KSM fun is open to initiate any relation, connection to any dex on kusama or polkadot? But seems even hydra dx do not very exited to represent KSM on their hydration dex. So my personal pov that kusama need to rely on kusama's project/ chain and not to be the big shadow of polkadot.
15. KSM.fun is a parachain. as all other parachains it is written with polkadot/substrate sdk using rust lang. Anyone can interact with chain using subxt library or polkadot web js library.
16. All liquidity (min 1 KSM) taken from creator is burned immidiatly and not belong to anyone. Only possible to buy tokens from the native dex pool.
17. The same way that Kusama network as a chain or Bridge hub/Asset hub ensure that uts users controle their assets.
18. Governance(OpenGov) pallet provide similar OpenGov feature that exists on kusama network but with a fasters track for vote.
19. Everything written on proposal.
20 — 31 it is Decentralized chain that has the first word decentralized.
32. 1.5 month of work for 2 rust substrate developers. It is open stats month salary for rust blockchain devs is 14k$. 1.5 * 2 *14 = 42$K total funding.
As you noticed this project is not to drain treasury but for success of kusama in current crypto narative. so 9 days of commits in public repo before this a huge work was done by research of existsing solution prons and crons and so on.
It would be honest to request 42$K from treasury and I acpected more welcome responce from community.
33. Video not included into payout request and will not be included ever.
34. Source code was published 2 weeks ago because prev commints was in Research and Development phase were our team tried different approach and runtimes configuration as iteration process of comming to final solution. so when final solution was crafted we published soruce code publicly.
35. This is the main idea of KSM fun and difference from Asset hub and other dex in kusama/polkadot ecosystem. All coins that exists on KSM.fun 100% went via fair-launch and no presale or team allocation. So it is anti rug that ensure that all coins were created via fair-launch extrinisc and was created everything together — new token, liqudity, pool and all liquidity burned. everything happened just in one click and no other way to create a coin or list on native dex.
36. KSM is different from Kusamastarter on 100% in every aspect.
— when kusamastarter was founded it was just beggining of dot sama trend in 2021. so that team mostly follow the hype and want to gain profits from their project and they was not intrested exactly in kusama but rather to make huge money during bull market so at the end they just shift to other eco.
KSM.fun is introduced in the bear market for kusama and polkadot that obiusly that our main goal to pump kusama to 100-500$ rather then follow the hype. if anyone were intrested to follow the hype they would go on solana.
— kusamastarter did not have even minimal expiricience in substrate blockchain develoment because it was the beggining
in other hand I have 10+ years of software development 5+ years rust and 4 last years i am focused primary on dotsama
— kusamastarter did not win a auction and shift to other eco
KSM fun has the latest slot on kusama history that required some skill in dotsama eco and as we showed we locked around 500KSM forever.
37. sir. to register para id now costs 1100 KSM so will be locked forever. do you see a lot of register parathread id for kusama in subscan.
Even more there is deregister parathread that mean that people are leaving the eco.
Only I as a dev on kusama pushing parity to reduce cost of regestering parachain that now costs 1200 KSM.
You can see my referenda here.
https://kusama.polkassembly.io/referenda/448
weeks of discassion from parity since 2022 and no improvment.
the amount even was multilied x3.
from 300 to 1110 by recent updates.
Devs are avoiding kusama because of to high barier, good tech but very complex aproach. so even if there any development similar to us we would see any sign of it.
I am here to try to imporve kusama and make it vibrant.
38. Video only avalable by the link and not published on the channel.
39. By referenda tha i created
https://kusama.polkassembly.io/referenda/447
Only this approach allow honestly fund the chain that really brougth some value to kusama. Proposal to fund for time on reserch and development for 2 rust devs during 1.5 month that actually costs 42K$.
Our team asked only for 12K$.
40. Do not understand the question. Devs comes to build. kusama or dot for now not able to suggest to much for devs except of funding for development. If treasury only for marketng then fine we already saw the great job for such funding for last 2 years and kusama at 17.5$.
if treasury are also to fund devs then how many new parachain devepment/exists project was funded for 2 years i mean that devs that was funded to build not a system chain but devs that comes to build some chain with utility and use cases that covers current market demand. if number of devs and projects is close to 0 it means it is a good time for kusama comunity to change something.
41. your comparation is accurate but it does not reflect the real picture
solana token laucnhed on pump fun 1.5M. Token that are not listed on radyum 1.5M — 50(that listed on radium)
Millions of solana locked forever in unlised pools on pump fun that drive solana price up a lot since the begging of this year.
Thanks for all your questions, happy to answer.
DDCN...23EF
Thanks for your answers.
Regarding your answer to question 15, it was asking what "documentation" KSM.FUN will provide and what languages would be supported. By "documentation" I didn't just mean code comments, and by languages I didn't mean the programming language, I meant spoken languages (e.g. english).
Regardig your answer to my questions 10-11, 20-21, and 27-31, I have asked W3F to provide support, if possible.
DDCN...23EF
@ltfschoen I've thought about this a bit more. Given that this is "retroactive" funding, I realised I don't need an answer to question 15 as that would be applicable to future associated funding requests.
Regarding questions 10-11, 20-21, and 27-31, I got the following response from Bill Laboon at W3F in Element: "I don't think W3F Legal will want to make any official comment on this, as applications built on top of Polkadot (as opposed to Polkadot itself) are not really in their wheelhouse.".
Given that this is "retroactive" funding for "pre-launch" phase, whilst I would like answers to those questions it should not affect "retroactive" funding for work completed, but given you mention that it is the "pre-launch" phase, I assume your next phase is the "launch" phase, and I think a more robust answer than you provided would be necessary to sway my vote to Abstain or Aye. Perhaps you could consider whether the following is possible for KSM.FUN https://x.com/TheKusamarian/status/1834321085980180928?t=wUomPd2kOh2uAF6uROZc6g&s=19 to help solve those questions?
DG8Q...5nFh
Hello, on behalf of the AIWeb3 DAO (the most vibrant Chinese community within the Dotsama ecosystem, with the mission to amplify the voice of the Chinese-speaking community and support Chinese content creators, ensuring it plays a pivotal role in shaping the future of Dotsama eco),
We sincerely invite you to join our Twitter Space which is held every Tuesday at 10 AM (UTC+8) on our official Twitter: https://x.com/aiweb3dao. Please join our Telegram group if you have any questions, English TG group: https://t.me/aiweb3dao_eng and Chinese TG group: https://t.me/aiweb3dao
Comments: we have discussed this proposal in the community, and some community members shared positive comments about this proposal for the reasons: 1. reasonable amount of KSM 2. Development on Kusama is encouraged. 3. the proposal had made quite a few youtube videos for the eco before, hope the proposal will continue and share more updates about this proposal. 4. Users can use Hydration for meme coin, is there a need for a parachain?
您好，我代表AIWeb3 DAO，这个波卡生态中最具活力的中文社区，旨在放大中文社区的声音，支持中文内容创作者，确保其在塑造波卡未来中发挥重要作用。 我们特地邀请你们参加我们的Twitter空间是每周二上午10点（UTC+8）， 在我们的官方推特：https://x.com/aiweb3dao. 。如有任何问题，请加入我们的Telegram讨论：英文Telegram https://t.me/aiweb3dao_eng ， 中文 TG group: https://t.me/aiweb3dao。
FDL9...finf
I do not think blockchain, in general, is a technology meant for things like meme coins. These coins typically inflate a bubble, and those who act first close their positions while others are left holding the bag. I understand it's seen as a funny way to make money easily, but I have another suggestion. How about requesting 7.2k KSM to build something that can make Polkadot/Kusama usage as easy as an SDK or framework, to attract engineers?
Gqrk...Bogy
@FDL99LDYERjevxPnXBjNGHZv13FxCGHrqh2N5zWQXx1finf
hm.
i belive it is not up to me or up to you to decide for what only should be build with blockchain tech. market and current trend show the real demand on such thing as meme coins. it is not me or you decided what direction it should go
huge whales that drive all the crypto market now decided that it is memes and it is next evolution of addoption to bring more people into crypto, the same it was with nft in 2021.
i do no understand that you vote and evaluate my proposal having some proposal to me build for 7.2K something that attract engineers.
To attract engineers for what?
I am engineer, I have been in dotsama eco for last 4 years and came with research that i made and idea and even imlementation and even the slot that i won and lock my 350KSM forever and you are saying me "NO, Dev, It would not work!!! Do something else!"
Sir, are you kidding? what new developers would like to join the ecosystem that even my projct that provide kind of system chain(fund from my own pocket) for KSM holders new chain with new utility for KSM that basicly dedicate my time and you are voting "NAY"? what new developers are you talking about if price to deploy your chain on kusama is 23K$ that i basicly already paid. I am shocked by your response and the situation about NAY votes on this referenda from you, Bruno and chaos dao.
I understand you, deep in mind we all know that current meme coins season steel attention from really good project with amazing technology like polkadot/kusama and many others. and me the same like you not happy about current trend I do not have any memecoins but this is the reality, NFTs tend did bring a lot of users to kusama, solana polygon back in 2021 even if NFTs market dead now.
Are you really interested in success of kusama, because as I realised now that all NAY voters is just delegation from Parity and chaos dao that even did not risk their own capital when/if kusama need KSM fun and you reject my idea on the stage of retroactive funding. It is really danger move from parity to delegate KSM to someone who mostly could be only intrested in polkadot success and want kusama disappear in a shadow forever.
How many trends kusama need to miss? NFTs, EVM, AI projects, meme coin season? Bringing more developers would not give the real results because:
— the starting curve is too high. 23K$ to just register the chain not even buyng coretime. Only me pushing the changes to decrease price of stating the chain.
— what exactly kusama can give to devs? users? activity? kusama already missed so many trends in past and continew todo it? WTF?
Thank you. i am shocked by your response. "good move" to attract more devs with a "welcome message".
Gqrk...Bogy
@FDL99LDYERjevxPnXBjNGHZv13FxCGHrqh2N5zWQXx1finf
btw
memecoiners
why every chain realized that now to attract users their need pump fun like casino but not only attract but also survive in a long term but you @SPACE_INVADER think opposite.......
no comments......
Gqrk...Bogy
Etom...7Yx2
memecoins are technicly very close to tokenized compaany shares and kinda hoping that we would also go towards the direction that allows companys to move their ownership structures onchain. i guess memecoins can and will be the gateway drug.
Gqrk...Bogy
thank you so much for your understanding and your support.
HqRc...fVZn
This feedback comes late but after discussion with the proposer.
I am not a fan or supporter of memecoins or pump type applications as it embodies aspects of blockchain that I dislike. On the other hand, I am a supporter of other aspects of the proposer's "portfolio".
It was my intent to abstain but given that the proposal was passing without any hinderance I didn't see the need to make any adjustment.
Congratulations on the success of your proposal.
Gqrk...Bogy
@HqRcfhH8VXMhuCk5JXe28WMgDDuW9MVDVNofe1nnTcefVZn
any feedback?
Discover similar proposals
#509
E5qF...tqrg
Deciding
KSM RFP #1 - Shielded Kusama Hub Transfers - $50k Total Prize!
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Treasurer
Treasurer
#509 KSM RFP #1 - Shielded Kusama Hub Transfers - $50k Total Prize!
E5qF...tqrg
This RFP was adapted over several weeks on AAG to turn a treasury proposal in discussion to an RFP with refined scope and oversight.
To apply for the prize pls fill out this form.
Prize Pool: $43,000
Finder’s Fee: $2,000 **
Supervisors: $5,000
Supervisors (Bounty Curators)
- Flipchan
- Byte (Erin)
- James Slusser
Excess or unused funds will be returned to the treasury by Bounty Curators.
Timeline
Monday, March 17 - AAG Discussion & this forum post! ✅
Monday, March 24 - Single-ref Bounty + Curators ✅
4 Weeks after Bounty Funding - Submission Deadline Thursday
July 31 - Project Completion (Pending Kusama Hub Launch)
Project Scope
Smart Contract Development
- A Solidity-based smart contract deployed on Kusama Hub
- ZK enabled for private deposits & withdrawals
- Compatibility with all Kusama Hub assets
User Interface
- Browser-based, mobile-ready UI hosted on IPFS
- Support for: Deposits, Withdrawals, Transfers, XCM Transfers
- Compatible with popular ecosystem wallets (Nova Wallet, Talisman, Subwallet)
Anti-correlation Attack Mitigations:
- Fixed deposit amounts (e.g. 1, 10, 100, 1000 units)
- Batch payouts for withdrawals to multiple users
Interoperability - Ability to receive assets via XCM from any Kusama-connected parachain and transfer them to Kusama Hub for use in shielded pool.
Open-Source Delivery
- All code (smart contracts and UI) published under the MIT license
- Publicly accessible repositories Project updates shared transparently via Polkassembly, Subsquare, or Polkadot Forum from Team with Milestone deliveries
- Developer & User documentation
Milestones
Milestone 1, Initial Pools & Basic UI:
$16,200 USD
1 month
- Tests - Smart contract test
- Smart contract - ZK shielded smart contract with KSM and multi asset support on Westend or Paseo
- Basic UI - A basic UI for interacting with the smart contract
Milestone 2, UI + XCM:
$9,900
1 month
- Tests - tests for all features
- User interface design - UI design
- XCM transfers - XCM transfer assets in UI
- Fixed amount transfer only - Allow fixed amount transfers in the UI
Milestone 3, Mainnet Deployment:
$16,900
1 - 1.5 months
- Contract Migration to Kusama Assethub - Migrate contract from Testnet to Kusama Hub
- Public documentation - Documentation for using Kusama shield and developer integration documentation
- Test - tests for contract
- V1 UI - User tested & something we can be proud of
** re: Finder’s Fee: this payment is set aside to incentivize a broad search for the right implementor. Finder’s Fees are paid out at time of team engagement. Teams that submit themselves can collect their own Finder’s Fee at completion of project.
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Deciding
Voted Aye