[DIS] Palmyra: RWA Lending on Nervos

One question about the below quote. Sounds like a portion of the 100k being requested will be allocated to Nervos Nation for paid promotion, if that is correct how much and are there any other details you can share around this.

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@TheFryLock

None of the requested grant amount is earmarked for Nervos Nation. The proposal makes abundantly clear those funds are specifically for development.

Edit: I can see that there is reference to “joint marketing effort between ZenGate and Nervos Nation” - I must clarify that this is incorrect and funds are for ZenGate to use to achieve their milestones. Any reimbursement for Nervos Nation for marketing is outside the scope of the grant.

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Hi @mdrx - few places to keep up to date with zenGate Socials.

Main ones include:

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@RODR thanks for the question!

As for payment options, the initial demand for these type of transactions and deals are in stables. However, if there is appetite and the right tooling is built out I can see a path forward where CKB holders could potentially provide lending opportunities in stables (i.e use CKB as collateral to borrow USDC and then lend that out to earn yield). This would provide quite an interesting opportunity without required holders to sell CKB.

Something else the team have been keeping an eye out for is iCKB and the opportunities to utilize it for DeFi. The 64k deposits happening into the DAO also demonstrates that holders are looking for opportunities like this. Quite excited to see this play out.

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Hi Sam,

Can you please answer this question about open source code? Thanks

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Hi @neon.bit thanks for clarifying.

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Hi @Yeti

Thank you for the question.

I have saying which goes…“Public Funds, means Public Code.”

We have shown a track record of open-sourcing our tooling and have done so already for our Winter Protocol (our tokenization, traceability and data management system powered by UTXO chains). You can look at the documentation as well which we have spent quite a fair amount of time on explaining how it works and how other projects can integrate / fork it for their own purposes.

Once again… Public Funds = Public Code.

Hope that clears your question up.

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Thanks for the support!

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Hi Sam, yeah that’s very clear, thanks and good luck!

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Hi Sam I would be much more interested in this project if it were to use the CKB token rather than the PALM token. Is this possible?

Also further reading this proposal, I don’t know how it can bring more exposure to Nervos?

It’s utilising the tech, but it’s kinda hidden underneath all the RWA stuff? The end user wouldn’t even know its using Nervos’s network?

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Hi @Christine_Pi thanks for the questions and making the time to ask them as I think it is really important to highlight them.

First - we are looking into ways to utilize CKB for the platform (there are ways of doing this we are researching such as borrowing USDC against your CKB then using that USDC to lend the funds). This would allow you to utilize existing value you hold in your wallets and participate in the ecsosytem. Boosting the TVL of CKB further, rather than selling it.

Second, as for exposure - we are quite selective with which chains we work on and have so far focused on eUTXO chains due to ease of interoperability. Most of our users at the start with be Web 2.0 focused and really just want a solution that works. If that means leveraging the super innovative Nervos tech then we really want to leverage this - DIDs is a great example of this. Powered by Nervos in a simple / elegant way.

Hope this makes sense - excited about these partnerships and utilizing best in class technology.

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Hi Christine, this is actually one of CKBs best points. Joyid for example, maybe even the majority of users don’t know what CKB is, let alone that it’s CKBs tech that makes Joyid possible.

And the same will apply to the use of DID in Palmyra, no one will know or care that DID is built on CKB, but due to CKBs tokenomics, there is a value to CKB under the hood.

But I get what your saying and agree that it isn’t going to be something that makes people run out and buy CKB, it’s not that sort of project.

Update:

The proposal has passed the first stage and the vote is now live at:

https://dao.ckb.community/thread/vot-palmyra-rwa-lending-on-nervos-53119

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:carrot::carrot::carrot::carrot::carrot: