For now. Adding period to your sentence won’t close the discussion. The decision would be pushed on ZIP too soon and it might be better not to let people who can vote for ZIP chatting alone too soon imo.
Your argument is solely based on a few models with governance tokens that are not used for gas solely because they’re on $ETH. If they had their own chain what would it be ? Let’s not fight for ideology but for the best Zenon economy.
Shouldn’t be a big deal unless the L2 absorbs a big chunk of the economy. If it does, then I don’t think we can just easily pick one without diving deep into the effect on the token economy of the underlying network.
Shazz voted for another token but didn’t reply, so I’ll post for him:
In my opinion a Layer-2 and/or sidechain implementation will bring EVM/WASM compatibility for NoM and will greatly expand the ecosystem. The NoM Multichain Technology can become a de-facto hub for interoperability within the ecosystem.
This way, the base layer remains minimal & efficient as Mr Kaine emphasizes and all the heavy work/bloat is kept in a separate execution domain.
Pillars produce inflation as ZNN and they will also run the orchestrator nodes. It makes sense for them to also act as validators for a L2/sidechain where fees are paid in ZNN. The L2/sidechain should not produce additional/separate inflation. Pillars can bridge part of their ZNN inflation into the L2/sidechain ecosystem and they will be incentivized to bridge more if usage is high.
@NeoShredderZNN is not a gas token because the L2/sidechain will use a wrapped representation of it. It can be called eZNN or xZNN (execution ZNN).
Pillars yield (inflate) ZNN as rewards for the services they provide. Pillars convert ZNN into gas* (Hydrogen) and then sell the gas tokens to users, who then use the gas to pay for services.
The virtuous flywheel effect would plausibly increase the value of NoM as it would be fed by the TVL conversion from fiat and other currencies.
More value to NoM = more value to AZ = more dev funds = more development = max flywheel effects.
The implementation of Hydrogen token would also serve as a sort of insulation from delegating for yield and governance, vs network utilization gas.
*I think that an annotated ie xZNN ticker would be more confusing for the users and onboarding aliens, even though it makes more logical sense to a tech person, I think the average person would find it more confusing.
edit: although… how does the user get the gas?
Buy ZNN on a CEX and convert it to gas.
Buy the gas on a dex.
3.? How to make user friendly?
Since gas is used with a L2 znn to gas conversion should be done at the bridge.
I don’t think it’s a good idea unless we could drive a lot of traffic to network. Gas token derived from znn goes against zenon feeless ethos imo.