[Proposal 2 - YES - $1m] HOPR runs on Gnosis Chain - Swapr is more decentralized and OSS friendly

As I mentioned in Telegram, I think it would be better to create one thread per “original” opinion. So I will start doing it here. I added the two main arguments that drove my choice as the title of the topic.

If admins are unhappy about this initiative, just move this post elsewhere - I am fine with it :)

Here is my proposal:


Uniswap, Sushiswap and Swapr are assumed to be equally secure (which is the #1 criteria).

We don’t need to care about UX and MEV.

Why? See Sebastian’s post


I support this proposal.

I’d allocate the $250,000 of the Proposal 1 to this proposal. I’d also allocate the $500,000 of the Proposal 3 to this proposal. I’d add $250,000 more from the current Univ3 DAI-HOPR Ethereum pool.
This way we can reach $1m, and get a lot more rewards in the form of Carrot. See An update from Swapr
So, in total, $1m will be allocated to this proposal instead of the $100,000 initially suggested.

I like this proposal the most. That’s because, in order of importance:

  1. Gnosis Chain is where HOPRnet nodes (will) run
  2. Swapr is more decentralized than Uniswap and Sushiswap & dxDAO is a super innovative DAO in its governance - that aligns the most with HOPR and web3 values of decentralization
  3. The SWPR rewards are the highest if we reach the $1m-5m range, see An update from Swapr . And $SWAPR has amazing upside potential as Gnosis Chain will become more and more adopted and dxDAO grows, for the reasons I mention above (decentralization).
  4. We already have liquidity there, and we already have a good relationship with Swapr
  5. Choosing between DAI and ETH as liquidity pair doesn’t matter much


xDAI and stablecoin risk

I don’t think we should worry about that. MakerDAO is one of the oldest DAO, and is very conservative. They have been around for a while and DAI stil kept its beg. It’s the most decentralized - yet really collateralized stablecoin out there.

They are even considering adding 10 Years US Bonds as well as real estate as collateral to DAI…

Gnosis Chain vs Ethereum

For me, it makes little sense to trade on Ethereum.
HOPR will run on Gnosis so we must continue supporting the ecosystem and bringing more and more $xHOPR on Gnosis, so that ultimately people will use as much $xHOPR as possible to run the nodes!
At the end of the day it’s the real goal of HOPRnet we should all strive for as a DAO!

Besides, fees on Ethereum (will) become crazy high (again) and are already 1000 times higher than Gnosis…
Paying gas fees with a stablecoin seems like a must for me.
I can easily see Gnosis becoming more and more trendy for the next bull run, as is very attractive for builders and traders alike.

In this regards, $SWPR is very likely to gain in value when Gnosis Chain gains more popularity and we enter a new bull market.

Decentralization and DEX governance

I greatly appreciate Swapr governance (dxDAO). Their governance is very innovative and pretty much unique in the crypto space: Manifesto | DXdocs

It seems to me that Swapr is more decentralized both in intent and in practice than Uniswap. Despite being the #1 DEX, Uniswap is:

  • primarily run by a for-profit company called Uniswap Labs and based in New York: Uniswap - Crunchbase Investor Profile & Investments
  • is NOT open-source, but only source-available (even though the codebase automatically becomes OSS after a certain period of time). See v3-core/LICENSE at main · Uniswap/v3-core · GitHub . That means that they must tightly control who contribute to their code base with a CLA. Those kind of development aren’t decentralized at all because random external OSS developers simply won’t sign it.

On the other side, Swapr is super open about it’s roadmap, its development process (just go to their Discord and join their call). They emphasize decentralization in every choice they make (recently mentioning Radicle for example). And above all everything is 100% open-source, including the frontend.

For this reason I think Swapr is the most aligned with the core HOPR values of decentralization, privacy, open-source and democracy. (And the most aligned with the core web3 values actually.)


If the liquidity pool reaches $1m we have a lot more extra rewards in the form of Carrot :carrot:. See An update from Swapr

That’s why reaching at least $1m would be nice.
Of course individuals are likely to add liquidity as well - but I don’t expect it to be so much.

For more, see Rewards comparison between the proposals

Existing relationship with SWPR

Moving liquidity is hard. We already have some on SWPR. Each person has to do it individually. Why going on another DEX chain?
Plus, we have an existing relationship with SWPR. And they need us.

Choosing between DAI and ETH doesn’t really matter

ETH is likely to boom next bull run, together with HOPR which will minimize impermanent loss compared to DAI. DAI is a stablecoin minimizing risks both sides. Both have advantages and inconvenients. But it is not really important whatsover as both $DAI and $ETH are great money to hold anyway.