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vote nay
Based on the feedback, we created a new proposal: https://polkadot.polkassembly.io/referenda/1762
Context
RegionX Hub is the primary application for interacting with Polkadot’s Agile Coretime model. There is no other project in the ecosystem that fulfills this role, and we are proud to play this key role. At its core, Coretime is the product that Polkadot—and, in the future, JAM—offers. It is very important to have a project that gives users simple, intuitive access to all Coretime-related functionality. We represent the ecosystem in this area, which is why we take development at RegionX very seriously.
We are the only team to have successfully implemented a trustless secondary Coretime marketplace, live on Kusama. The concept of a secondary market was introduced in the Agile Coretime RFCs, and since then RegionX has led the effort and was the first to implement it.
Especially with the new direction the ecosystem is taking, with intentions to increase the price of Coretime, secondary marketplaces will play a key role. It allows projects to split Coretime regions purchased on the bulk marketplace and resell the computational capacity they don’t need on the secondary market. This will allow newer and smaller projects to be able to get their project live on Polkadot.
We believe that the key to success for Polkadot is to bring as many innovative and useful projects to the ecosystem, and providing the possibility for new projects to deploy is, in our opinion, very important
Therefore we are also proud that we will provide integration interfaces so teams like PDP can easily plug into our secondary marketplace.
Overall, we believe we are working on a very important area in the ecosystem, and with this proposal we want to deploy the RegionX marketplace on Polkadot and implement the requested features and improvements, along with others we have added to the RegionX Hub roadmap. With RegionX we want to represent the ecosystem in the best possible light when it comes to Coretime.
Proposal: https://docs.google.com/document/d/15fIi7eNhL7qU7_OxgKX9zxIDIBnO6pXVBOPeIAmCy80/edit?usp=sharing
Comments (13)
Requested
Proposal Failed
Polkadot is moving toward higher Coretime prices, and having a mature secondary marketplace before those increases is essential to ensure new teams can still onboard cost-effectively.
In our opinion, the amount is definitely too high. How much has RegionX received from the Treasury so far, and how many times more is that compared to the total revenue generated from all Coretime sales to date? Several times more?
@TheGlobedotters Thanks for taking the time to write a comment instead of just voting nay.
We recommend watching the PBA Campus – Jam Panel. At about 1:15:00, Gavin talks about Coretime prices. Coretime is currently very cheap, and this will have to change in the future. Polkadot, by rough approximation, spends roughly 500 million a year to provide its cores. Coretime prices will have to increase to somewhat match that.
It’s important to deliver the secondary marketplace on time, before Coretime prices increase. Through the secondary marketplace, teams will be able to purchase interlaced or partitioned cores, gaining access to smaller resources at a much lower price. This way, new and existing projects can optimize by buying only a fraction of a core, since most don’t need much more than that anyway.
We believe it is important to deploy the marketplace on Polkadot, as it will provide substantial value once deployed and prepares us for future increases in Coretime prices.