This doesn’t answer any of my questions though
I also am waiting to see if a team member will give an official answer on topics outside of the DAO from the original post.
There’s a LOT of questions there, for now I’ll focus on the TL~DR:
Utility for $BAM:
- DAO Governance: We’ve obviously just started that. Migrating from PP to BAM created a malleable token that is a baseline for community governance and added utility.
- Staking: We are working on a proposal from a dev we’ve worked with before to have reviewed/voted on by the DAO
- VersaPay: reduced transaction fees for $BAM holders for Lootverse
- Liquidity Pools: Liquidity is good - but digital assets volume is the lowest in years and so may not be as effective right now.
- Integration with the mobile app - there’s a ton of opportunity in here, from reduced trading fees, access to additional features, whitelists, etc.
- Lootverse: James and I have run through a number of in-world hypotheticals
- Cross chain liquidity: I don’t know if BNB chain will ever be more than it is today, and I think it’s very important to get to ethereum and ideally other major chains
CMC Rejection: We’re not sure why, and I doubt it’s low volume as you can look at new listings and see even lower volume than ours. I’m speculating it’s because we need more clarity on our website, socials, etc. which is in progress with the re-branding. BTW - CMC (and BSCScan) - their customer service is deplorable (actually non-existent). I held Binance in much higher regard a year ago…I see them for what they are now.
Company purpose: This was posted in the Bamboo Assets Management thread but bears repeating:
Bamboo’s mission is to create trust and seamless accessibility for mainstream digital asset adoption. Bamboo’s innovative mobile-first digital assets platform is driven by a user-friendly interface with a socially engaging experience, and Bamboo’s Advisory Services partner with brands and organizations seeking support in onboarding into NFTs and the metaverse.
Thanks for the response Adam.
I noticed you’ve not mentioned the HEX - so is that no longer in the planning? Or have you not mentioned it due to it not being utility for BAM?
I’m also not sure that I would consider DAO governance as a utility of the token, but fair enough.
Also thanks for pointing out the mission statement from Bamboo Asset Management, I have seen it before, but (and no offence is meant by this) it doesn’t really say anything that clarifies things, as it’s typical business spiel without actually getting to any point (IMO), which I why I asked the question.
I do very much appreciate the response!
A hybrid exchange is still part of the business model. As to our mission statement - here’s how it ties in. To me, easy on-boarding for digital assets means the ability to use a mobile app to easily swap tokens without using slippage (spot trading) and instead having limit orders. This functionality really only exists in centralized exchanges right now.
A HEX to your point would be tied into $BAM utility - something along the lines of centralized exchange tokens where tiered holdings get you discounted trading fees (FTT comes to mind).
We understand both the functional and technical structure of the “how” - Keith drafted an infrastructure design and Karim a functional design. It’s not cheap (probably $2.5 - 3M all-in) but the hardware infrastructure would bring a lot of other benefits and I don’t see much out there in the market that competes. Not that it can’t change VERY quickly in Web3 (see DYDX’s recent move) - so we have to assess the technology market at the time.
Like anything, it comes down to capital, resources, and time. Most of that is focused right now on getting the app live.
Thanks for the reply, it’s good to know and to have a more realistic idea that it’s not something that’s just around the corner.