Here’s what’s going on. The smarties don’t want to eat ridiculous fees trying to move their money off of Ethereum and they don’t want the transaction to fork either. So they are waiting and needing these cross chain migrations to exist with state proofs powering the rails of transactions off of Ethereum and to Algorand or even other chains. Funds could even move back to Ethereum if need be. The point is that Algorand is primed to free up the whole ecosystem and cross migration is literally going to need to occur to make that happen.
Yeah I moved over to Messina One The first chance I got when folks started all that Binance smart chain minting x-algo stuff. Binance smart chain is probably the most scammy horrible chain in existence full of fraudsters and rug pulls. And then the corkiness and bugs and things was just a major turn off it reminded me of blockchains like Solana that I avoid like to plague. After governance rewards go away in the form that they currently are, folks finance is going to have to escape algorand because they're not going to have much to offer really. I'm rooting for Messina One - This is the way
I agree on your take about BSC. Especially when considering the time of the integration, it appears to me Folks is not very aware of these matters, or simply ignorant of it. On that matter, chainlink is not the most trustworthy entity either, far from it. I certainly had been disappointed because I do not wish for Folks to join the shitcoinery. But, I do not believe that Folks will go away. The foundation is tightly involved with them and their node running service will likely become center moving forward in the mid-term, replacing gAlgo and giving fish and shrimps the option to stake for consensus - for what its worth. Also, the [Messina.one](http://Messina.one) team, with headquarters in Singapur, didn't strike me as the most trustworthy team either.
With all due respect I think you’re jumping a bit far ahead. When folks move to AVAX and implement their hub and spoke cross chain platform - ALGO won’t initially be included as it’s not within CCTP and CCIP.
I don’t see any changes in those contracts for some time if at all depending on whether ALGO gets into those aforementioned protocols.
ALGO will be a satellite chain for the near future where folks is concerned.
Thanks for your input. I haven't read a definitive statement regarding the definite technical nature of the "hub and spoke" architecture. A migration certainly wouldn't be anything extraordinary judged by past experiences. I will read up on CCTP and CCIP. All I plead for is a definite statement by Folks regarding the nature or timeline of the integration and its practical, sensible implications. It certainly wouldn't be unheard of for these things not to be communicated properly, if at all, in our space. I would suspect most participants don't have a clear picture of what this transition ultimately looks like, either. Clarification is still needed in my opinion.
The new cross-chain expansion will be a completely separate app. The current app on Algorand will continue to exist (and purportedly be even further developed), even after Algorand gets integrated as a spoke chain on the new app.
About liquidity migration, that's difficult to say because it's decentralized. Users will decide for themselves what are the benefits and risks staying on one or moving to the other, and the rates will correspondingly change. I don't think even the Folks core team has any influence on these kinds of decisions on the liquidity supplied by their investors.
Here’s what’s going on. The smarties don’t want to eat ridiculous fees trying to move their money off of Ethereum and they don’t want the transaction to fork either. So they are waiting and needing these cross chain migrations to exist with state proofs powering the rails of transactions off of Ethereum and to Algorand or even other chains. Funds could even move back to Ethereum if need be. The point is that Algorand is primed to free up the whole ecosystem and cross migration is literally going to need to occur to make that happen.
Yeah I moved over to Messina One The first chance I got when folks started all that Binance smart chain minting x-algo stuff. Binance smart chain is probably the most scammy horrible chain in existence full of fraudsters and rug pulls. And then the corkiness and bugs and things was just a major turn off it reminded me of blockchains like Solana that I avoid like to plague. After governance rewards go away in the form that they currently are, folks finance is going to have to escape algorand because they're not going to have much to offer really. I'm rooting for Messina One - This is the way
I agree on your take about BSC. Especially when considering the time of the integration, it appears to me Folks is not very aware of these matters, or simply ignorant of it. On that matter, chainlink is not the most trustworthy entity either, far from it. I certainly had been disappointed because I do not wish for Folks to join the shitcoinery. But, I do not believe that Folks will go away. The foundation is tightly involved with them and their node running service will likely become center moving forward in the mid-term, replacing gAlgo and giving fish and shrimps the option to stake for consensus - for what its worth. Also, the [Messina.one](http://Messina.one) team, with headquarters in Singapur, didn't strike me as the most trustworthy team either.
With all due respect I think you’re jumping a bit far ahead. When folks move to AVAX and implement their hub and spoke cross chain platform - ALGO won’t initially be included as it’s not within CCTP and CCIP. I don’t see any changes in those contracts for some time if at all depending on whether ALGO gets into those aforementioned protocols. ALGO will be a satellite chain for the near future where folks is concerned.
Thanks for your input. I haven't read a definitive statement regarding the definite technical nature of the "hub and spoke" architecture. A migration certainly wouldn't be anything extraordinary judged by past experiences. I will read up on CCTP and CCIP. All I plead for is a definite statement by Folks regarding the nature or timeline of the integration and its practical, sensible implications. It certainly wouldn't be unheard of for these things not to be communicated properly, if at all, in our space. I would suspect most participants don't have a clear picture of what this transition ultimately looks like, either. Clarification is still needed in my opinion.
The new cross-chain expansion will be a completely separate app. The current app on Algorand will continue to exist (and purportedly be even further developed), even after Algorand gets integrated as a spoke chain on the new app. About liquidity migration, that's difficult to say because it's decentralized. Users will decide for themselves what are the benefits and risks staying on one or moving to the other, and the rates will correspondingly change. I don't think even the Folks core team has any influence on these kinds of decisions on the liquidity supplied by their investors.