PRV For Your Thoughts: Just Some Minor Bumps on the Way to the Moon, No Big Deal!
A bearish market; an upcoming feature; some major breakthroughs; and a really awesome community.
This week was another proof of how the PRVArmy sustains the whole DeFi project and affords PRV resiliency amidst a season of reds. Let’s take a look at this week’s highlights from the PRV Telegram channel!
Something to Think About? Or something we THOUGHT about?
An interesting inquiry from Shizun Wong piqued our interest. As you may remember, we recently launched the PrivacySwap Referral System about a month ago. And the response has been positive! That is why when our developers give their feedback, such as Shizun Wong’s, we make it a top priority to take notice:
“[I] read on another farm, their referral rewards are minted as opposed to taking directly from referral which is a barrier to some bec[ause] we don’t want to earn [our] friend’s $. Do you think this will get exploited?”
One of our community admins, BQ is quick to answer this million dollar question;
“If you mint new coins for referrals, it will affect the emissions. Either by minting new coins and cause inflation, or take from existing emission, causing a much apr for everyone”
At first, it really does make sense! But is this solution sustainable? Our PRV Admin answers in the negative;
“[Shizun Wong], this has gotten exploited before. This is why we don’t use minting (of additional) as opposed to only having rewards at 100% instead of 101%. We didn’t want to affect emissions. So we didn’t really do it in that manner. (And) [As this can] also provide a vector for possible exploit[ation].”
“So we kept it at where [the] referral is right now. Hope you guys understand. :) ”, PRV Admin adds.
Exciting Features coming your way!
We hope that settles it on the referral system minting inquiry! But our honor student, Shizun Wong, is just warming up! She still has some other ideas, particularly about Privacy Mixer, an upcoming feature which has been the latest buzz of the town! She writes;
“[Once Privacy Mixer is up], I think many ultra rich people esp[ecially] in China wants to make payments in an easy and private way[,] so no one knows they made the payment, even for charity purposes cos they don’t want people (or the gov[ernment]) to know they are rich. Might be a good direction to explore to make this easy and accessible.”
It seems our PRVArmy is clearly ahead of the game, and we love it! This proposal has been one of the factors we considered when we conceptualized Privacy Mixer. But it is definitely fulfilling to hear it from our partners! As Don correctly put;
“I think the team already knows this. And it[‘s] clear some people will find the mixer really interesting.”
Further, Don adds how the upcoming PrivacyCards are keeping him on the edge of his seat;
“Being able to skip the entire cash out process with P2P trading etc. is a huge convenience. [And] using your crypto profits to buy stuff is truly awesome (haha)”.
Finally, we conclude the upcoming features topic with Joe showing PRV some love!!;
“I must say this community really knows their sh*t! I am in a few other coins and none of them actually have proper discussions 😂, glad to be part of PRV though I am a guppy.”
Don’t worry, Joe, we love guppies just as much as we love whales! Just take a look at Whaleboy’s shared meme last Monday:
Here’s where we huddle and hodl
However Tuesday was in a bit of a different tone. The PRVArmy was taken aback to witness PRV’s lowest dip for the past couple of weeks. You may also read our update on this: July 22, 2021: PRV Token Weekly Recap, wherein PRV went low at $7.6.
But the PRVArmy was not quick to lose heart!
“It’s now lower than the last dip. But we’re gonna hodl no matter what, right team? 💪💪💪”, B writes.
Snapper JR adds;
“Just focused on building up my PRV with farming now.”
And this is a great move, as seconded by DW Lin! He shared a good argument on why users should continue to farm PRV in the midst of (what KOP1 calls) “crypto winter”;
“..Let me share with you my experience: I bought 60% of my PRV when it was $60+.. entered another 40% of my PRV when it was about $28+.. [in] just 2 months, guess what[?] My overall investment cam[e] breakeven at $12 now.. All bec[ause] of the good PRV interest. 🙏”
DW Lin ended his testimonial in a reassuring tone;
“PRV wins everything in this market.. As long as PRV Team stays strong, just farm and you will emerge as winner.”
PRV Admin also released his long essay (weekly update) last July 20. Here are some of the feedback from the community:
KOP1 agrees with BQ when he said;
“I think this is the best news coming out from yesterday. Hope the team realize[s] that the real focus is getting the UI for landing page done, more offering at the vaults, the cards roll out, and focus on the mixer. Establish us with the real identity first before doing other things..”
“I honestly am glad PRV has actual utility.”
Joe was likewise moved by the PRV Admin long essay and writes some positive words;
“..We have great utility and I am sure all of us believe in our investment. Hold strong guys.”
Coming back stronger as ever!
These statements from our regulars did not prove to be for naught as the whole community rallied and agreed to buy PRV tokens to give it a little bump. Lo and behold, PRV closed off a day after at $8.6, producing that green candle on our chart!!
As we have written on last Thursday’s PRV Token updates;
“This [incident] is a reminder of how resilient we are in PrivacySwap. Everyone has exactly the same mind-set: that we are all in it for the long haul. This is not your typical crypto investment where you just simply buy, earn, and collect.”
Leaving things on a positive note
So much for that, we are closing this article with pretty good news. But first, PRV Admin has also solicited the opinion of the developers on which convo platform they prefer to use, and they picked casual AMA sessions. As Yukiko have put it;
“..ultimately, the question is if the sessions are for us or also to get more people on board.”
We would definitely delve more into this later and keep you updated.
Finally, on to the big news: we experienced a sudden influx of new members following a promotion-crypto-giveaway on Twitter!
From 3k+ members, we are now at 5k+!! That’s a HUGE leap!
Let us all welcome our PRVArmy neophytes with a pat on the back, words of wisdom, and a LOT of memes!!
That’s it for this week’s PRV for your thoughts. Let us end this article with a good problem to have. We present to you, Pat’s dilemma: