Proposal “wrapped-dash“ (Active)Back

Title:wrapped DASH
Owner:hades
Monthly amount: 10 DASH (259 USD)
Completed payments: no payments occurred yet (25 month remaining)
Payment start/end: 2024-03-10 / 2026-03-25 (added on 2024-03-03)
Final voting deadline: in passed
Votes: 319 Yes / 124 No / 24 Abstain
Will be funded: No. This proposal needs additional 144 Yes votes to become funded.
Manually vote on this proposal (DashCore - Tools - Debugconsole):
gobject vote-many 72d1be08eb0e355b05b94f9c68e804c5074bfac0464413aa7d69ac2bf0e79b22 funding yes

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Proposal description

ABOUT wDASH THE PROJECT

We have noticed the absence of a native token in the DASH project on the Binance Smart Chain blockchain, hindering its utilization in various WEB3 applications. To address this issue, we have decided to create our own token wrapped DASH, facilitating a 1:1 exchange ratio between the native blockchain and BEP-20 tokens.The token issued by the PirateCash team and is managed by PirateFoundation. Since 2018, we proudly uphold our impeccable reputation.

Binance Smart Chain (BNB)   0xCbFB0D98151D03eF8bB71fA668F57Df5E3fb4673
Audit address  Xcxhh7nyxLS2s9Ck4NST4zGAdwfacSKL56
At the moment, there are 744.94054692 DASH in the hot wallet  and additionally, we have created wDASH liquidity for trading on PancakeSwap:

wDASH / USDT   - Pooled wDASH 441.85($16.33K) / Pooled USDT 16,111.56 ($16.09K) ~Liquidity $32.42K
wDASH / WBNB - Pooled wDASH 25,72 ($1,04K)  / Pooled WBNB 1,9799($1,04K)~Liquidity $2,09 K
wDASH / WBNB - Pooled wDASH 57.87 ($2.35K) / Pooled WBNB 4.4715 ($2.36K) ~Liquidity $4.7K
wDASH / PIRATE - Pooled wDASH 124.62 ($4.61K) /  Pooled PIRATE 326,594.06 ($4.54K) ~Liquidity $9.15K
ZEC / wDASH  - Pooled ZEC 17.45 ($560.28) / Pooled wDASH 15.02 ($549.49) ~Liquidity $1.11K
CAKE / wDASH - Pooled Cake 405.79 ($1.31K) /  Pooled wDASH 36.45 ($1.31K) ~Liquidity $2.62K
COSA / wDASH - Pooled COSA 1,464.17 ($1.24K) /  Pooled wDASH 34.5 ($1.28K) ~Liquidity $2.51K

Total liquidity is $53.55k

 Why do wee need funds ?

We are requesting funding to improve the functionality of exchange through our website and our proprietary application P.CASH, as well as to increase liquidity. Our goal is to enhance liquidity by allocating a portion of the funds to a cold wallet and launching a masternode. The rewards from the masternode will be directed back into liquidity.


What benefits does it bring to the community?

  1. We don't control the exchange rate, allowing the community to engage in arbitrage and profit from it.
  2. The DASH community can utilize a decentralized exchange on the popular PancakeSwap exchange.
  3. The opportunity to use WEB3 services.

Also, we'll present this project in Dubai 15-16 April on Blockchain Forum at G1 spot and you can ask CEO of PirateCash about wDASH.

website: wDASH.org

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
 
1 point,28 days ago
Dear MNOS. This proposal can be funded/defunded in a long term (25 months)

In case it is not funded this month, do not forget to check its progress the next month, and maybe reconsider.
Reply
1 point,25 days ago
Thanks. I hope that MNO will support us and they can speak with us on Dubai Blockchain Forum 2025 at G1 spot
Reply
1 point,1 month ago
I think doing some podcasts would've helped with this proposal before asking for 25 months. Yes it can be defunded at any time if it initially passes but you could explain your background and your project more to a larger Dash audience. Just my 2 cents.
Reply
1 point,25 days ago
yes, that's why we did multiple payments instead of only one (MNO users can check progress)
Reply
2 points,1 month ago
This question is not for the PO.
Rather it goes to the MNO who are technically familiar with BSC, BEP-20 contract creation, wrapped tokens and DEX pools:

Are there any potential risks of having such a proposed contract on the BSC run (and owned?) by a third-party ??

Secondly, if there are risks involved relating to coverage/backing, trust or (theoretically possible) embezzlement, is there anyone from DCG or another well-known and respected MNO volunteering to conduct some serious due diligence?

Without that knowledge, MNOs will be unable to make an informed decision upon voting.
Reply
1 point,1 month ago
Yes, there are risks - we own a pre-mine, and the risk is that we could devalue the token if we suddenly release more tokens into the market than we have, but we guarantee a 1:1 exchange, and our reputation is projects from Pirate Foundation. Also we did security audit out token
https://github.com/TechRate/Smart-Contract-Audits/blob/main/February_2024/Wrapped%20Dash.pdf
Reply
2 points,1 month ago
I looked at your works, you are conscientious and modest. Green light! I vote FOR!
Reply
1 point,1 month ago
Thanks for support
Reply
1 point,1 month ago
25 month? Too long. No.
Reply
4 points,1 month ago
Where is the problem?
You can change your vote every month.
Reply
3 points,1 month ago
Excellent response! That's why the low rewards for this to see the result our team!
Reply
1 point,1 month ago
We are requesting a small amount (250 DASH) as additional funds, with the primary allocation already secured from PirateFoundation. We also plan to independently enhance liquidity.
Reply
-3 points,1 month ago
For many years, the budget was stolen for hundreds of thousands of DASH coins.
Millions of dollars were stolen!
And now, for this cool programmer, you feel sorry for a few coins for a good cause?
You are greedy and should be ashamed!
Reply