Should the newly emerging DeFi platforms touting “no pre-mine” be making an effort to prohibit smart contracts and bots from interacting with them a la Harvest?
What do you think of platforms that release their governance tokens only to active participants, setting aside no tokens to pre-award? Is that something to be valued?
Harvest's "greyList" features are pretty clever and will be effective. I don't know that it makes sense for all platforms to prohibit bots. Price discovery is most efficient when done at a speed faster than what humans are capable of.
Harvest may be one of the cases where it makes more sense, though. I don't believe Harvest is trying to be a DeFi lego for other projects to build on top of. They implement strategies using the legos. It's trying to be a top level platform that does everything users need it to do already.
In that way, they specifically are avoiding contracts so they can encourage human focused interaction.
As for the value of "no pre-mine" governance, I understand the motivation to avoid a pre-mine, since what we're building here is a "democratized" financial system, not an oligarchy (in theory). However, when no ongoing funding is provided for funding the developer teams and the backing organizations, projects start to fold (see Mimblewimble and Ether Classic dev orgs). ZCash has always had a fee built in to the rewards for miners and that goes towards technical upkeep. In general, I like that plan.
Harvest's "greyList" features are pretty clever and will be effective. I don't know that it makes sense for all platforms to prohibit bots. Price discovery is most efficient when done at a speed faster than what humans are capable of.
Harvest may be one of the cases where it makes more sense, though. I don't believe Harvest is trying to be a DeFi lego for other projects to build on top of. They implement strategies using the legos. It's trying to be a top level platform that does everything users need it to do already.
In that way, they specifically are avoiding contracts so they can encourage human focused interaction.
As for the value of "no pre-mine" governance, I understand the motivation to avoid a pre-mine, since what we're building here is a "democratized" financial system, not an oligarchy (in theory). However, when no ongoing funding is provided for funding the developer teams and the backing organizations, projects start to fold (see Mimblewimble and Ether Classic dev orgs). ZCash has always had a fee built in to the rewards for miners and that goes towards technical upkeep. In general, I like that plan.