Saturn Network Ask Us Anything Thread


#1

This post will be dedicated to questions or queries made on Telegram, that I believe other users may be interested in. Also feel free to ask any queries

Question from @Trikpakral Patrik Kristl, [19.04.18 18:21]

Is there a way to prevent somebody from amassing too much vote power and basically centralizing things through governance?

Neuron @NeuronOfRados responded [19.04.18 18:40]

I can write another wall of text with our thoughts on the matter, but the short gist of it is that a centralized party can surely amass these votes by simply purchasing the tokens, and there is nothing you can really do with it. Limiting amount of tokens to be owned by one address is stupid - it will just encourage the party to split their funds in 2, or 4, or 10 addresses

So might as well let them own things out in the open!

Now, let’s assume somebody did buy the majority of SATURN to influence the votes. Remember, they didn’t get this power for free, they had to pay for it! So they have a financial incentive to keep Saturn Network going strong.

If they are good at it, if their decisions are helping the network grow - so will the price of the tokens on the market. We cannot really complain that somebody smart and capable decided to buy all these tokens, do their research, and make smart decisions that benefit everybody.

If, however, the decisions that they make are shitty and are hurting Saturn Network, people will stop using it and the price of the token will go down. At this point others can buy tokens from this centralized gentleman at a discount and correct course, and the value of the token will recover. So the value redistribution mechanism is built into the protocol, at the intersection of technology and the free market and worst case scenario, they buy all the tokens, and fuck up the system intentionally. I.e. a competitor might buy all the tokens and ban all trades, in an effort to sabotage Saturn Protocol. Well, the technology is open source, and worked great until that one person came over! So the community can decide to hard fork, issue a new token and deploy new smart contracts. The attacker simply wasted a lot of money, and Saturn Network just came back stronger than before.

This scenario with an adversary attack is the reason why I personally believe in the long-term value of SATURN token. The more expensive the token is, the more secure the system becomes to such economical attack.

(i.e. the attacker will have to spend that much more money to buy a big portion of SATURN with the intention to shut it down). So as Saturn Protocol becomes more used by traders, they will be incentivized to HODL at least a little bit of SATURN to prevent this attack from happening. And why not HODL if a successful operation of the protocol just makes the token more valuable? Win-Win


#2

Question from @ChandlerLuu [17.05.18]

hi Sam, I imagine the future that we will have Saturn DAOs on ETH, ETC, Callisto, Qtum,… each DAO has its own token with voting power. It’s most likely that we will have different decisions to vote for and also different voting outcome across them. WIll the development team remain the same across those DAO? how will it affect your ultimate goal and vision? Thanks

samr @magichatsam responded

Our ultimate goal and vision is to create an ecosystem of decentralized exchanges which will allow decentralized cross blockchain trading (our whitepaper outlines we would look to achieve this via atomic swaps or 2 way pegs). I mean I can’t see why one DAO would vote against this, as this should benefit everyone. But yes you are right, it is possible that one DAO could come to a completely different voting outcome or have a completely different vision for the project. Protocol changes are binding so any voting outcome will happen, I believe a situation does exist where one blockchain could vote to move forward with a different team. Very good question, I will ask Neuron to give you his thoughts also when he is online.

Neuron @NeuronOfRados responded

@ChandlerLuu great question! Initially I would imagine it’ll be just us doing the development work, but as we grow others will be able to contribute, and probably individual chains will start their own communities and might find other devs. Since the protocol is decentralized it will be easy to offer competing services on the same protocol. In terms of goals and vision, as I’ve said before, our goal is to bring a decentralized exchange DAO to every blockchain. As soon as we achieve this goal we will set ourselves a new one. It will probably be about connecting all these isolated blockchain DAOs into one cross-blockchain network powered by atomic swaps.