Gevik🇳🇱🇦🇲 (@gevik) header
Gevik🇳🇱🇦🇲 (@gevik) profile picture

ReactJs | Node | TypeScript | PostgreSQL developer. Self employed and looking for new challenges every day.

NL
Joined June 2009
Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)Photo by Gevik🇳🇱🇦🇲 (@gevik)
Gevik🇳🇱🇦🇲 retweeted
Hey #LUNCcommunity, the reverse charge approach for #burntax is live on rebel-2 testnet now. This is a call to all dApps and developers to deploy / test their contracts on rebel-2 to test and verify that the approach is backwards-compatible and does not break existing apps while allowing non-#terraclassic dApps to deploy seemlessly. Tests conducted by myself on rebel-2: Deployed NFT collection ✅ Minted 10 NFT in batch for 1,500,000 ✅ Tax paid by dApp user (old calculation) was refunded ✅ Recipient (share 97.5%) received 1,455,041 which is 97% (tax deducted) ✅ 1,000,000 sent via tc wallet using keplr extension, sender pays no tax ✅ 1,000,000 sent via tc wallet using keplr extension, recipient gets 995,000 ✅ 1,000,000 sent via command line client, sender pays no tax ✅ 1,000,000 sent via command line client, recipient gets 995,000 ✅ Bidding 10,000,000 on an NFT (deposit to contract), sender pays no tax ✅ Withdrawing the bid again (withdrawal from contract), recipient pays 50,000 tax (receives 9,950,000) ✅ @GarudaNodes @_Terraport_ @LbunProject and everyone else I didn't tag. Cheers. #LUNC #dApps
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Gevik🇳🇱🇦🇲 retweeted
TFL burns 251bn $LUNC and 174m $USTC completing their commitment to burn shuttle assets. What can we expect? This reduces supply, and therefore reduces the market cap of #LUNC and #USTC. Due to the circulating supply changing this will cause a perceived boost in the percentage of LUNC staked. Because this is not a continuous buy back and burn it is unlikely to affect price significantly, and those expecting the burns are probably already bought in. It does however reduce the risk of long term sell pressure from these assets, with them being removed from the supply. It is also a positive demonstration to the community that TFL are complying with court orders. If we want to increase buy pressure and price movement we need buy backs and burns, by increasing utility with protocols such as @_Terraport_ @JurisProtocol @0xSelenium replacing Astroport, Anchor and Mirror, and massive utility such as @TerraCasino_io that has paid out $2.5m alone in the last few days, and reactivating the market module. Let's build a future. 🙏
TFL carries our it's promised $LUNC shuttle burn of 251bn
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Gevik🇳🇱🇦🇲 retweeted
TFL burns 251B $lunc, and @JurisLuncVal is going to burn all commission of the past weeks & months, totalling 96M $juris 🙏❤️
TFL carries our it's promised $LUNC shuttle burn of 251bn
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Gevik🇳🇱🇦🇲 retweeted
264 million #USTC and 251 billion #LUNC have been burned 🔥🔥🔥 To the moon🚀🌕
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Gevik🇳🇱🇦🇲 retweeted
The TFL shuttle bridge wallet was closed yesterday and currently has 251,614,603,609 $LUNC, and 176,319,426 $USTC inside. @terra_money stated this wallet will be burned, but have not given an exact date and time. Stay tuned for the burn update. 🔥💎🤲🏻 #Crypto #Binance #USTC
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Gevik🇳🇱🇦🇲 retweeted
This is the best pic I have of the late Simon Riggs who passed away yesterday 26 Mar 2024. 💔 Simon's far-reaching influence changed the course of so many lives. I took this when Simon was giving his PostgreSQL keynote at #PGConfEU 2023 in Prague. RIP Simon, you will be missed by many
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Gevik🇳🇱🇦🇲 retweeted
Terra Classic decentralization through data availability Terra Classic state is huge and it is a nightmare for chain upgrades. Thanks to Jesus blessings, the chain is still running, phew. But, state bloat is harming decentralization. How to effectively deal with this? Why state bloat is such a serious problem? it hampers decentralization. Only few capable validators can meet increasing node requirements leading to more centralization. No matter how many people voicing against centralization, the fact is that there is not much can be done about it. The network has to be more valuable over time, or it risks more validators shutting down due to higher costs. Currently, each validator is a fully validating node maintaining all block states for verification of future blocks. Thanks god, we now have data availability layer such as Celestia. Data availability is born exactly to deal with this kind of problem. Now, even light clients can join to secure the network independently. A network can have a lesser number of fully validating nodes, while still able to maintain decentralization by having lots of light clients also contributing to verification. In the case of Terra Classic, top validators already control more than 2/3 voting power. By using DA layer, everyone can spin up light clients to help secure the network against top validators. What is light client? light client is a type of node that downloads only block headers (a whole lot smaller compared to blocks) from full nodes assuming those full nodes are honest. If those full nodes are dishonest, light client will download invalid block headers. If fraud is detected, light client will have to download all blocks and verify it themselves. Which just makes them another full node. How light clients can verify without downloading all blocks? Celestia solves this with data availability sampling. What is data availability sampling? let's just say that you are a normal person (light clients). Someone sues you over something you have little knowledge of. What will you do? you consult a lawyer with 20 years of experience (full nodes). And how do you verify that the lawyer is legit? by asking other people (sampling other light clients). If other people confirm that this lawyer is a conman, then you can reject that lawyer and find the real legit one. And, that is how you can help spin up a light client to secure the network, using DA layer.
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Gevik🇳🇱🇦🇲 retweeted
Hexxagon is delighted to announce that we are now offering validator hosting services to everyone in the cosmos ecosystem. We are currently running an Xmas promo that offers a $100 discount off our maximum standard price of $400, for the first month of hosting. There are only a few spots remaining at this discounted rate so act fast to not miss out! You can contact us here: t.me/hexxagon_io @cosmos @CosmosEcosystem
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Gevik🇳🇱🇦🇲 retweeted
In order to ensure the sustainable operation of Hexxagon, we have made the strategic decision to diversify our customer base by expanding our services to encompass the broader Cosmos ecosystem. Consequently, we will be rebranding Terra Classic Station as Galaxy Station, an inter-chain wallet with a focus on the Cosmos ecosystem. This transition will take place gradually over the next few weeks. As a result of this shift in our direction, we would like to formally announce the termination of our collaboration with L1TF in regards to Terra Classic Station. We have transferred the current version of the source code for Terra Classic Station to L1TF, as it rightfully belongs to the #LUNCCOMMUNITY. In the event that new developers become available to further develop and maintain this source code, it will be in their possession. We are excited to share more details about our change in direction and provide an opportunity for community members to ask us questions during our #LUNC Ask Me Anything (AMA) session on October 6th.
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Gevik🇳🇱🇦🇲 retweeted
#LUNCCOMMUNITY Just to clarify, we will no longer be requesting funds from the #LUNC Community Pool for any purpose. We have a further announcement scheduled for tomorrow in regards to our future roadmap!
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Replying to @hexxagon_io
I think we should talk about all the alternative sources of funding for @hexxagon_io. I think you deserve the money. This is definitely one way, but not at the current #LUNC price. You need a functional and profitable business model. CP funding generates too much misunderstanding and conflict in the #LunaClassic community. Do you have a long-term strategic plan for this or do you simply turn off the machines when the money runs out? Thank you.
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Gevik🇳🇱🇦🇲 retweeted
It would be really beneficial if there is an ideas list for DApps. Just think about how that list can inspire DApps team to build their own version and innovate. I wonder if there is already a DApp ideas list for Cosmos? If not, who is willing to do it with me? #cosmos #lunc
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Gevik🇳🇱🇦🇲 retweeted
#LUNCCOMMUNITY Just a friendly reminder our #LUNC proposal 11805 ends in 24 hours! We hope to have your support! 🫡👍💯
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Gevik🇳🇱🇦🇲 retweeted
Vote for v2.2.2 soft fork is on: station.terraclassic.communi… This text proposal seeks approval from validators to update their terrad to v2.2.2 which will fix the 5% min commission and various iavl improvements which will speed up v2.2.0 upgrade #LUNC
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Gevik🇳🇱🇦🇲 retweeted
Adoption of Terra Classic Station and our Infrastructure continues to climb, we thank everyone out there that supports us, we are here for you the #LUNCcommunity station.terraclassic.communi…
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Gevik🇳🇱🇦🇲 retweeted
Joint L1 Task Force Q4 Proposal is on We will focus on solving accumulated technical debts in the next quarter. Our team has agreed to do this voluntarily for community benefits. commonwealth.im/terra-classi…
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Gevik🇳🇱🇦🇲 retweeted
Very proud of the the validators and Our team that worked swiftly through the night to resolve an issue that caused a state breaking change. We remain committed to 24/7 support for #LUNC
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Gevik🇳🇱🇦🇲 retweeted
Hexxagon has assisted the L1 team to conduct comprehensive testing of the Terra Classic Station and Terra Classic Finder functionalities, encompassing LCD, FCD, and API. This rigorous testing was undertaken to ensure the seamless operation of the forthcoming v2.2.0 core upgrade. We are pleased to report that all checks have been successfully passed, and we eagerly anticipate the release of this highly anticipated #LUNC upgrade!
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Gevik🇳🇱🇦🇲 retweeted
Just a friendly reminder that while Terra Station is currently working to resolve their issues, we have Terra Classic Station available for use, which is fully functional! You can cast your votes on important proposals, stake your #LUNC, and while there you can take advantage of our on-ramp service. We are always dedicated to providing support for the #LUNCCommunity. Migration Guide: forums.hexxagon.io/t/migrate… Terra Classic Station: station.terraclassic.communi…
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Gevik🇳🇱🇦🇲 retweeted
Governance is not law, it’s a democratic means to have discussion, offer grants, and alter layer-1 core protocol code. It allows individuals from the community to present their ideas and have other individuals from that same community respond back in the form of a vote that aligns with them as an individual and their opinion on the idea, which helps poll the consensus of the community on that idea. If that proposal passes, then its up to an individual or team to then present a spend proposal if needed, outlining in detail what is required and what it will cost to complete the work, then put it up for vote and proceed from there. Lets take prop #11645 for example, it was a text proposal presented to the community by a community member requesting the layer-1 team to create an independent wallet and related-apps (layer-2 work), the proposal passed unanimously, now here is where the misconception comes in, many believe that because it passed that now layer-1 team must obey governance and complete the work, however, this is not how governance actually works, proposal #11645 was nothing more then a discussion surrounding an idea that the community all agreed on, at which point the layer-1 team could decide if they wanted to take on the work and put up a spend proposal outlining costs and requirements if needed. The layer-1 team made the choice to find a solution that did not cost the community further expense by collaborating with Hexxagon to use their already built and working Terra Classic Station + infrastructure, by doing this it allowed layer-1 team to still focus on layer-1 work, well offloading the layer-2 work required to create a wallet onto Hexxagon, layer-1 teams role in this would be to hold custody of the GitHub repos and review all code changes to them from Hexxagon. So, did the layer-1 team not obey governance? Its of my opinion there was no governance to obey, proposal #11645 was merely a request / discussion from the community to layer-1, but it was not law, nor was it enforceable, the only point in time it would have been enforceable is the minute layer-1 team put in a spend proposal in relation to the request and that spend proposal passed, then the layer-1 team would have to deliver what was outlined in that spend proposal, but that simply is not the case here, there was no spend proposal to enforce. Now let’s look at proposal #11685, this is another discussion text proposal, where the individual community member is expressing his views and vision surrounding the layer-1 team and Hexxagon team, such things proposed in that proposal are defunding of either team and preventing either team from collaborating with each other or other teams. Now if that proposal passed, is it law? In my opinion no, it’s a discussion of opinions that are not enforceable until they are added into the next spend proposals presented by either team next quarter, and that’s if those teams decide to add those points of interest in at all, nothing says they have to, maybe those teams come up with their own solutions that they wish to put into their spend proposals. So, its of my opinion that we need to stop using governance as a weapon and start treating it as it was intended to be, a discussion phase to gauge community consensus, maybe try and have longer discussions on topics outside of governance before throwing up a proposal that may not cover everything properly. And remember, the only requirement for someone putting up a spend prop is to outline what will be delivered and the cost, it’s the requirement of the community to read that spend proposal and decide if it meets their standards to pass, and vote it down if it does not, but whatever the outcome is, respect it. If something isn’t delivered by a team or individual, then open a discussion and ask why without insulting them, maybe there is a good reason, ultimately you the community hold the power to simply not vote them in next time their spend proposal comes up if you feel you could not resolve the issue through discussion, or you can simply request amendments to their new spend proposal coming up. At the end of the day, read what you are voting on completely, ask lots of questions, and vote appropriately to what feels right for you, but whatever the outcome, respect it and the discussions / people around it. Lets work together to build a brighter future for LUNC and its community! ** Everything stated above is of my own personal opinions and views **
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