I have lost sleep over this the past few weeks while I do more research on the matter. In the end I dont really think there is anything we can do about it. As we grow it will be less of an impact. Sure it probably is contributing to the stagnation of the price but it’s also a great contribution to the volume. We are currently landing some pretty great exchanges that may otherwise not consider us with much lower volume.
I am starting to lean in the other direction now. Let’s all be honest here… The bots are not going anywhere and they will just get better every day. I am starting to think that maybe if we shoot the blacklist down, it may even help marketing in the end. Maybe the headline reading “K9 DAO members shoot down blacklist feature”… Rather than “K9 implements blacklist on arb bot” is a better move.
The driving factore for crypto has and always will be decentralization. By implementing and using blacklist features, we get further away from it and more towards being centralized. I believe that we need to remain as decentralized as possible to sustain growth in the upcoming years.
I do still support the proposal on a vote but just want everyone to consider all options and dont let current price action dictate the evolution of $Knine.
Therefore, I no longer support banning the bot and believe it is in our best interest as a community to let it do its thing. Once we have more buy pressure from new listings, we will be able to judge better. Until then its definitely a great way to pickup k9 at a discounted rate.
This is not financial advice and is meant for entertainment purposes only. Always DYOR! Woof!
I’m agreeing with not black listing the bot… With a lot of deliberation…Another positive note is the sales are coming to uniswap with a 3% tax. It’s been mentioned 5 to 10k per day in sales that’s around $210 a day to the treasury…
IDK if it’s a coincidence, but after the last two listings, there are way fewer sales from the arb bot on Uniswap. As I mentioned earlier, one reason I want to ban the bot now is to see what happens. But honestly, K9 is too great of a project to mess with. Maybe it’s better to keep our hands clean and leave the bot alone…
I have two wallets I can vote with, so I might just end up voting both yes and no!
Does anyone think we should revisit this? This bot has done nothing but drain us for the past 7 months. I think we should reconsider the blacklist on 8404. Look at the price now compared to when this proposal was 1st brought up.
I say we reconsider the stance and bring this to a vote for the community.
If we’re going to start blacklisting arb bots, we should verify each wallet that’s an arb bot and take care of them all at once.
This won’t stop more from joining in or addresses we’ve blacklisted from changing wallets and starting it up again.
IMO, our focus needs to be on bringing volume in that will prevent a CEX and DEX price from deviating so largely that provides the arbitrage opportunity.
Be interesting to see what happens if it is black listed…will it just switch to wallet 8505…Do we know the outcome? There was discussion over at LTD around black listing a bot did it happen?..
How much of an impact are folks expecting the blacklist to make?
Litespeed estimated a 5-10k reduction in sell volume per day in the proposal. That’s only a fraction of a percent of the daily trade volume I see on CoinGecko (315k). I’m not sure the juice is worth the squeeze, but could be converted if there is a bigger picture I’m missing.
This at least needs to go to a vote so the DAO can decide. I just think its that simple guys. I am not saying that I even know what to do. I don’t need to. It’s a DAO so let the DAO decide. That is all I am saying. If we cant agree on that, what are we doing here?
Since we are sharing our opinions here, yes, it can make sense to reconsider and take this vote to the DAO.
First of all, the K9 team cares for their holders, and caring for their holders also means they they care for the health of the KNINE token, the liquidity, and of course take action against manipulation if appliable.
It is true that this is DeFi, and traders should be free to trade and take advantage of arbitrage opportunities, but no project wants to see their token being traded to the dirt, and their holders losing faith on it, while one or more bots take advantage of it.
There are two main facts that make me agree on taking this proposal to be voted on the DAO:
The 8404 bot is not a holder, it buys and sells to take instant profit, take advantage of arbitrage, the price difference among the markets;
The price on CEXs is often considerably lower than on DEXes like Uniswap, and the 8404 bot is exploiting this heavily during the current market conditions, constantly dumping the price on DEXes since the volume currently is still low;
Most KNINE holders use DEXes, and use Bone Crusher for passive income, so they increase the price/liquidity, which the 8404 bot is draining for profit.
Since the bot is draining the liquidity for many months (since launch), and this affects all holders, it can make sense to allow the holders to vote on the DAO. This gives the holders a chance to minimize the damage that the bot is causing, at least during this slow part of the market and the volume is still low.
Just sharing my opinion about the potential benefit of having a vote on the subject, since it can contribute for the health of the project.
