Using the trust of the former to start anew
Old Lin's new store @MidnightNetwork is opening, urgently in need of a security captain or block producer. If people are selected purely based on the $NIGHT shares bought, any malicious tycoon could ruin the network with money, as the defense line is too weak.
Having worked as a workplace supervisor, Old Lin came up with a trick: to do background checks at the neighboring Cardano mall that has been operating for many years. To become a captain, it’s not about looking at the NIGHT holdings of the new store, but rather how much ADA deposit you have staked in the old mall. The years of hard work and interests of the old security guards are all at stake; the cost of wrongdoing and fleeing is extremely high. This borrowed trust system perfectly solves the trust crisis of the new store during its cold start.
The conditions offered are also astonishing: part-time work not only does not affect the normal salary payment of ADA from the old mall, but the attendance probability remains unchanged, and one can also earn an additional NIGHT reward. Such an easy opportunity to make money with zero threshold is something almost no one would refuse.
However, late at night, Old Lin also has doubts: the high-quality background checks of the former leaders can only endorse the past and cannot guarantee the current investments. What if the old security guards rely on the fixed subsidy that was as high as 95% in the early stages, just putting their names down and slacking off every day? Although this guaranteed subsidy will gradually tighten down to 50% later on, the cost of idleness right now is simply too low. Machine code can precisely lock in funds and chips, but it’s ultimately difficult to quantify and predict human hearts.