As the #HIVE airdrop approaches, #ionomy is taking a stand on Binance and Justin Sun’s cooperation, especially as it pertains to TRON founder Justin Sun’s disputed #STEEM coins.
This fork and airdrop represent the Steem/HIVE community’s exercise of their right to disagree with those who try to abuse their position and power. Thus far, Binance has proven to be no friend of the community in this disagreement. Binance allowed Justin Sun to leverage customer funds in Binance custody to hijack the Steem chain and undo community action. To be clear, the community’s action in response (a community activated soft fork) did not steal coins from Sun, the Tron founder, but merely made it so that he could not rapidly devalue Steem.
ionomy affirms the right of communities to decide how their projects should operate as well as who should be able to participate.
Whenever you have a centralized exchange, custody is an agreement — a promise between the exchange and its users. ionomy refuses to be complicit with any effort to undermine community authority. ionomy pledges that it will never abuse user funds. Any custodial action taken with user funds will only be take when the user grants explicit permission.
Blockchain technology in today’s world is being met with fierce opposition from regulatory bodies and powerful people intent on enriching themselves while preying on the less powerful. Blockchain is more than money… it’s a movement. As an advocate of the blockchain movement, ionomy embraces the responsibility to help protect it. ionomy will not just stand idly by and watch powerful people abuse their positions and attempt to take advantage of communities around the globe.
Exchanges have extraordinary power in the cryptocurrency space. They have the power to make or break projects. They have the power to hijack customer funds and to create winners and losers. With great power comes great responsibility. ionomy stands with the communities that make cryptocurrency projects meaningful and valuable.
ionomy stands with HIVE.
Market distortion like this directly devalues customer assets. The fact that Binance did this in the midst of a global pandemic, a time when many customers may need to liquidate their assets to cover emergencies, brings the facts into harsh focus:
Playing games with customers’ funds demonstrates a reckless disregard for customers’ wellbeing.
There are no words to describe their impropriety: only bad words!
Now that Binance is supporting the HIVE fork, community members whose Steem is still in Binance custody have little choice but to rely on Binance through the fork. But what Binance did was wrong. It remains unclear how Steem/HIVE holders can continue to trust Binance after this egregious behavior.
Can't trust them. I hope community members who still have funds on there will withdrawal as soon as possible.
In fact, personally I have closed all my relationships with @binance-hot!
Here is my @ionomy's referral link: https://ionomy.com/en/aff/191ff519aec1f232151ffc51cff0ab9b Enjoy it!
Just created an ionomy account. Love that ionomy is a privacy-focused exchange. I don't like to give identifying info.
Well said!
I just opened a new ionomy account, very easy and it all seems very functional!
@tipu curate
Upvoted 👌 (Mana: 40/45 - need recharge?)
Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.
Please see this post on SteemPeak for more information.
Nice one. I've heard about this exchange for a while now. Time to check you guys out.
i must do kyc to use ionomy exchange ?
no private identifying information is required
Bravo! You just got another new customer.
Congrats! on your upvotes from the IBT Community on Hive
Thank you @ionomy for your support of HIVE. Much appreciated. I signed up and am using your services. Works very well.
Ionomy appears to be an equitable organisation. I therefore invite you to consider something which will help ensure it stays that way.
It appears that throughout history, top down systems of governance virtually always create criminal leaders. It's the way they are designed. It can't be helped. Fortunately there is now a design for a Bottom Up, multi-level, decentralised system of governance. It is a "Real time Democrity" where all the members of the community get to have their opinions heard and taken notice of in an extremely well organised way.
This leads to a thriving equitable organisation. I'm sure you guys would like for ionomy to be just that. I am working with the designer of this system, the Matrix-8 Platform, seeking initially one community to trial the system (yet to be developed/coded). Although we are currently focusing on the Hive Community, we are open to any visionary community who can see the phenomenal potential of adopting a Matrix-8 Platform.
This is the page for the New Age DApps Community on Hive which i created to group together posts explaining Matrix-8 and interested people: https://peakd.com/c/hive-153630/created
It took me many hours or reading to get to understand Matrix-8 (and then start writing about it), but i had an advantage of a visionary mindset and a very similar idea coming to me about 11 years ago.
Anyway, i hope you/and or others involved in ionomy will take the time to read several of the posts in the aforementioned group (and this post in particular https://peakd.com/hive-139531/@atma.love/seeking-visionary-developer-s-and-a-hive-community-for-developing-and-testing-matrix-8) to get to at least begin to understand Matrix-8, and possibly choose to adopt the system for your governance.
Your feedback would be much appreciated in due course.
Namaste,
Atma