one of the worst projects I’ve ever seen and from description of destroying someone else’s stake I could literally guess someone illiterate, likely in eth camp made it, and after looking up I was correct.

One paragraph, countless issues:

Just 1 major issue would be enough for any rational developer to understand this project design is broken and renders it useless and deceptive but these are eth developers, 1 breaking issue no cryptocurrency dev would do is not enough for them, lets count how many failures they made:

1. uses centrally premined ethereum (means centrally controlled by 1 party via incentives) so literally has no reason to use a blockchain for any reason (ico = premine since it’s free for premine party and incentivized to cheat)
2. uses centralized premined nmr (means centrally controlled by 1 party via incentives) so literally has no reason to use a blockchain
3. uses currency controlled by MKR premine that determines oracles that determines DAI price (means centrally controlled by 1 party via voting)
4. one of the least intelligent ideas to come out of eth community of illiterates is giving ability of slashing someone else’s coins in finite supply. these developers don’t understand that it’s just just “money” but incentives and slashing someone else’s funds increases their own control %, opposite to how people minting new coins dilutes others control %. Holding market cap of NMR constant means you want to burn others coins similar to how eth censorship slashing favors lying about censorship to destroy others coins and thus larger holder increases value of their remaining coins. it works with 1:1 ratio of slashing and it’s even worse with these ratios. They literally successfully added another incentivized mechanism for centralization — rational developers avoid eth hence it’s not surprising to see.
5. they in no possible way they “decentralized” NMR via NMR 2.0. decentralization is about control. there’s absolutely nothing anyone could’ve done to prevent 1 central party from owning up to 100% of it completely free, and thus control every aspect of it including proposed governance, profitably slash others, and which future token forks are incentivized for users vs incentivized (similar to Vitalik “the preminer“ causing 51% attacks on chain he dislikes after signaling its value will be crushed via his premine).

These developers do not understand what words like “decentralization” mean given how every single aspect of their design has 1 trusted third party they are required to trust, with any one of them capable of breaking entire protocol alone. 1 trusted party or 1 center is not de-centralized. Since blockchains are only good at one thing — trust minimization it renders the entire project useless. There’s a reason no cryptocurrency rely on central premines including Bitcoin and countless altcoins, only fake projects do by illiterate people while for no technical reason whatsoever still claiming decentralization. If not incompetence, why? Because there’s an incentive to deceive people (about their safety) for profit, or in other words, be perfect example of dictionary definition of a scam. Name and shame approach need to become more common in this space.