/biz/ - Business & Finance

GRT is not perfect. Far from it in fact. You can't just write off the risks without first acknowledging them. Every crypto asset has flaws whether you like it or not. GRT is no different.

I personally own over 50k GRT bought at the bottom on Dec 17th, because I've been following the project for at least 1 year prior to ICO. I feel the potential of this project, but you're going to get hit with bumps in the road, and you're not going to like it. Furthermore, I want the project to grow, obviously, but holy hell, you people have no idea what you are talking about half the time.

For example!

Major Issue 1: The GRT contract literally isn't allowing the smaller indexers from cashing out on their rewards they get from indexing. This means, they are 100% paying out of pocket. Some have been paying out of pocket for as long depending on when they started their index node in testnet. (If they started indexing in mainnet, they won't have issues cashing out their rewards.) Most indexers need around $100k - $500k just to get started indexing, so this isn't just a few hundred dollars a month as some Reddit users were saying. However, for the smaller indexers that were testing during testnet, as their rewards build up, a sell off is needed just to break even for them. This is unavoidable.

Major Issue 2: Smaller indexers could crumble over the heavy weight of the costs they can't recover. As well as the delegation. (No direct answers on if the delegation is also lost if an indexer defaults. I'm thinking yes, because the delegation is tied to the indexer's contract.)

Major Issue 3: The GRT team failed to set limits on delegation for indexers. This allowed 1 indexer to get a massive amount of delegates creating a centralization. The GRT platform was supposed to prevent this in the first place, but it didn't. Insult to injury, This 1 indexer made some massive mistakes and got their rewards slashed. I think, as of writing, they got slashed to 0%.