What is the overall Commons Configuration strategy?
Valuing ourselves by having a valuation of our knowledge, culture, and what we're about initially, and to alleviate the potential concerns people have regarding whales pumping and dumping since our valuation isn't SO LOW that people can take advantage of this.
This is based on the feedback I heard from Paul H and Phil H's recent Param Debate. I think we should value ourselves and our knowledge and culture. 6 Months and 1 Year is reasonable growth pattern for speculation and price stabilization/discovery plus being able to cash out somewhat if you need to do so.
Parameter
Value
Token Freeze
26 Weeks
Token Thaw
52 Weeks
Opening Price
25 wxDAI
Hatcher's TEC Release Schedule
This is the release schedule for TEC that was given to Hatchers. Their TEC will start out frozen and then slowly become liquid according to the graph above.
Token Release Timeline
Duration
% of Tokens Released
Price Floor of Token
3 months
0.00%
25.00 wxDAI
6 months
0.00%
25.00 wxDAI
9 months
25.00%
18.75 wxDAI
1 year
50.00%
12.50 wxDAI
1.5 years
100.00%
0.00 wxDAI
2 years
100.00%
0.00 wxDAI
3 years
100.00%
0.00 wxDAI
4 years
100.00%
0.00 wxDAI
5 years
100.00%
0.00 wxDAI
Module 2: Augmented Bonding Curve (ABC)
Strategy:
To allow for secondary markets and to take advantage of trading, but also incentivize people to enter and stay in the token with us.
So, also to make it so when we do exit, we are still contributing.
The ABC mints and burns TEC tokens, the price of the TEC token is dependent on the funds that is held in the Reserve. This graph shows how the ABC's Price for TEC tokens changes with the ABC's Reserve Balance. The Initial Buy that will happen at launch is highlighted.
Example Transaction Data
Tx
Reserve
Total Supply
Price
Amount In
Tribute
Amount Out
New Price
Slippage
0
1302661.92
2035918.28
25.0
200000.00 wxDAI
2000.0
7386.25 TEC
28.7
6.74%
1
1500661.92
2043304.53
28.7
5000.00 wxDAI
50.0
172.22 TEC
28.79
0.16%
2
1505611.92
2043476.75
28.79
100000.00 wxDAI
1000.0
3333.31 TEC
30.63
3.07%
3
1604611.92
2046810.06
30.63
3000.00 TEC
893.75
88481.14 wxDAI
28.97
2.74%
4
1515237.02
2043810.06
28.97
5000.00 wxDAI
50.0
170.61 TEC
29.06
0.16%
5
1520187.02
2043980.67
29.06
100000.00 wxDAI
1000.0
3303.12 TEC
30.9
3.04%
6
1619187.02
2047283.8
30.9
3000.00 TEC
901.66
89264.75 wxDAI
29.22
2.74%
7
1529020.61
2044283.8
29.22
100000.00 wxDAI
1000.0
3285.10 TEC
31.07
3.03%
8
1628020.61
2047568.9
31.07
100000.00 wxDAI
1000.0
3095.93 TEC
32.91
2.85%
ABC Overview
Reserve (wxDai)
Supply (TEC)
Price (wxDai/TEC)
Market cap
10,000
1,797,440
0.22
391,432.21
50,000
1,872,952
1.04
1,954,201.37
100,000
1,906,469
2.05
3,907,909.55
200,000
1,940,587
4.03
7,815,083.53
300,000
1,960,826
5.98
11,721,670.79
400,000
1,975,317
7.91
15,629,160.85
500,000
1,986,630
9.83
19,536,241.99
600,000
1,995,921
11.75
23,443,315.57
700,000
2,003,809
13.65
27,349,235.89
800,000
2,010,670
15.55
31,257,220.28
900,000
2,016,741
17.44
35,164,290.07
1,000,000
2,022,185
19.32
39,070,546.47
1,250,000
2,033,768
24.01
48,839,305.80
1,500,000
2,043,281
28.68
58,608,311.41
1,750,000
2,051,356
33.33
68,372,927.38
2,000,000
2,058,380
37.96
78,142,293.19
2,500,000
2,070,167
47.18
97,674,779.79
3,000,000
2,079,851
56.36
117,211,430.08
3,500,000
2,088,075
65.49
136,753,392.69
4,000,000
2,095,222
74.59
156,286,719.07
5,000,000
2,107,222
92.71
195,358,519.47
7,500,000
2,129,201
137.62
293,025,006.04
10,000,000
2,144,935
182.15
390,696,327.19
15,000,000
2,167,310
270.40
586,045,569.47
20,000,000
2,183,327
357.89
781,400,395.09
50,000,000
2,235,133
873.99
1,953,487,396.06
100,000,000
2,275,140
1,717.29
3,907,067,665.88
Module 3: Tao Voting
Strategy:
I think we are approaching this in a way that assumes things are going to remain the same as they are today, but I think that having 3/4 is a good idea.
Parameter
Value
Support Required
76%
Minimum Quorum
12%
Vote Duration
8 day(s)
Delegated Voting Period
4 day(s)
Quiet Ending Period
2 day(s)
Quiet Ending Extension
1 day(s)
Execution Delay
1 day(s)
Tao Voting Timeline From Proposal To Execution
This shows how the timeline stacks up for yes/no time based votes that can change the configuration after launch.
Timeline Data
# of Quiet Ending Extensions
No Extensions
With 1 Extension
With 2 Extensions
Time to Vote on Proposals
8 days
9 days
10 days
Time to Review a Delegates Vote
4 days
5 days
6 days
Time to Execute a Passing Proposal
9 days
10 days
11 days
Module 4: Conviction Voting
Strategy:
This will ensure that any potential takeover or social engineering will be slowed by the need to break up proposals by limiting large spending projects.
Parameter
Value
Conviction Growth
7 day(s)
Minimum Conviction
5.0%
Spending Limit
20.0%
Minimum Percent of Voting Tokens Needed to Pass Funding Requests
This shows how the minimum percent of tokens needed to pass proposals after 2 weeks varies with the percent of the Common Pool funds being requested.
Token Freeze: 26 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 26 weeks. They can still be used to vote while frozen.
Token Thaw: 52 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 52 weeks later.
Opening Price: 25 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 25 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
Commons Tribute: 5.00%, which means that 5.00% of the Hatch funds (68561.15 wxDAI) will go to the Common Pool and 95.00% (1302661.92 wxDAI) will go to the ABC's Reserve.
Entry Tribute: 1.00% meaning that from every BUY order on the ABC, 1.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Exit Tribute: 10.00% meaning that from every SELL order on the ABC, 10.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
Support Required: 76%, which means 76% of all votes must be in favor of a proposal for it to pass.
Minimum Quorum: 12%, meaning that 12% of all tokens need to have voted on a proposal in order for it to become valid.
Vote Duration: 8 day(s), meaning that eligible voters will have 8 day(s) to vote on a proposal.
Delegated Voting Period is set for 4 day(s), meaning that Delegates will have 4 day(s) to use their delegated voting power to vote on a proposal.
Quiet Ending Period: 2 day(s), this means that 2 day(s) before the end of the Vote Duration, if the vote outcome changes, the Quiet Ending Extension will be triggered.
Quiet Ending Extension: 1 day(s), meaning that if the vote outcome changes during the Quiet Ending Period, an additional 1 day(s) will be added for voting.
Execution Delay: 1 day(s), meaning that there is an 1 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
Conviction Growth: 7 day(s), meaning that voting power will increase by 50% every 7 days that they are staked behind a proposal, so after 16 days, a voters voting power will have reached 75% of it's maximum capacity.
Minimum Conviction: 5.0%, this means that to pass any funding request it will take at least 5.0% of the actively voting TEC tokens.
The Spending Limit: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
What is the overall Commons Configuration strategy?
Valuing ourselves by having a valuation of our knowledge, culture, and what we're about initially, and to alleviate the potential concerns people have regarding whales pumping and dumping since our valuation isn't SO LOW that people can take advantage of this.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Module 2: Augmented Bonding Curve
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Module 4: Conviction Voting
Module 1: Token Freeze and Token Thaw
Strategy:
This is based on the feedback I heard from Paul H and Phil H's recent Param Debate. I think we should value ourselves and our knowledge and culture. 6 Months and 1 Year is reasonable growth pattern for speculation and price stabilization/discovery plus being able to cash out somewhat if you need to do so.
Hatcher's TEC Release Schedule
Token Release Timeline
Module 2: Augmented Bonding Curve (ABC)
Strategy:
To allow for secondary markets and to take advantage of trading, but also incentivize people to enter and stay in the token with us.
So, also to make it so when we do exit, we are still contributing.
*This is an output. Learn more about the Reserve Ratio here.
TEC Price vs ABC Reserve Holdings
Example Transaction Data
ABC Overview
Module 3: Tao Voting
Strategy:
I think we are approaching this in a way that assumes things are going to remain the same as they are today, but I think that having 3/4 is a good idea.
Tao Voting Timeline From Proposal To Execution
Timeline Data
Module 4: Conviction Voting
Strategy:
This will ensure that any potential takeover or social engineering will be slowed by the need to break up proposals by limiting large spending projects.
Minimum Percent of Voting Tokens Needed to Pass Funding Requests
Example Funding Request Data
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
Augmented Bonding Curve (ABC)
Tao Voting
Conviction Voting
Advanced Settings*
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)