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PromPromby0x50dEFD79F0E51AA14a031820C134E416906325480x50dE…2548

Creating a native network for PROM based on subnets solutions.

Voting ended about 3 years agoFailed

Every web-3 project requires the infrastructure of a blockchain network. When a project depends on another blockchain, it has to rely on its infrastructure. The current trend is to run large and ambitious projects in off-the-shelf solutions with subnets, as this isolates the load of the underlying blockchain and significantly reduces user costs. And it also avoids the need for expensive development of your own network.

Web 3 games that use NFTs already need separate networks that allow them to run their own subnets. Separate subnets for each game and application allow you to give players the best speed and the cheapest transactions. The main (or L1) blockchain is not able to withstand the huge load that comes from several games at once. This leads to slowdowns and sudden surges in gas prices due to events such as NFT mint. Therefore, in recent years, solutions based on subnets, including purely gaming ones, have been actively developed. And in terms of ease of use, they cost much more than solutions like BSC. Therefore, I suggest thinking about moving PROM to another network.

Also, now there are already solutions that allow to running of separate networks for products, using native project tokens, in this case PROM, for staking to secure the network and for rewards for validators. And it does not require much development effort and cost.

Using the solution as a subnet will allow:

  1. Create a native network without costly development and without unnecessary gas costs depending on another network.
  2. Attract more attention and organize collaborations for marketing and brand awareness with ecosystem projects and the core blockchain team
  3. Using native PROM token to pay for gas and PROM stacking to secure the subnetwork will be good for token economics and expand usecase options for the project
  4. A subnetwork with a native PROM token will be able to run its own sites - marketplace, NFT lease site, and all transactions will use the PROM token as a native token. This will also have a good impact on the value of PROM.
  5. It would even be possible to build a gas-free economy. Users' gas costs could be covered, for example, by royalties from the NFT marketplace and NFT rent. Commissions in subnets with a native token are usually a hundredth of a cent and this could easily be paid for by a fraction of the funds received from royalties.

To run a native subnet, PROM can use solutions such as:

  • Oasys, a blockchain aimed at the gaming industry in which projects are launched immediately on their L2. Also, the ecosystem is strongly focused on the Asian gaming market - there is a very large audience there. Cooperation with this network will attract a large number of solvent users to PROM. Also, games targeting the Asian community are launched on this blockchain, and PROM solutions can be integrated into these games.

  • Avalanche - allows projects in subnets to implement all the functionality described above, including running nodes that use a native token such as PROM for PoS. The advantage of this solution is that many ready-to-use tools are provided - blockchain explorers, bridges, and so on.

  • Cosmos - there is a very large variability of subnet settings, but it requires a large base of developers.

  • Polkadot - weak ecosystem and weak community, very high development costs, and an unfriendly interface.

  • Celestia - a new modular blockchain that is likely to attract a new user base and large value to the ecosystem.

Off-Chain Vote

Yes
45.58K PROM50.8%
No
44.15K PROM49.2%
Quorum:45%
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Timeline

Oct 30, 2022Proposal created
Oct 30, 2022Proposal vote started
Nov 06, 2022Proposal vote ended
Oct 26, 2023Proposal updated