What is the overall Commons Configuration strategy?
I think this strategy is reasonable and efficient, allows fair structure for decision making, low barrier to entry, and ample funding for the project to succeed while also having a successful token launch.
I think the token freeze should be shorter because of the quick nature of our markets and DeFi and if we make it too long we could end up being in a crypto winter which would limit demand and options, but I think the thaw should still be 1+ years so that things are too fast and we still are being intentional about things.
Parameter
Value
Token Freeze
13 Weeks
Token Thaw
65 Weeks
Opening Price
1.55 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%
1.55 wxDAI
6 months
20.00%
1.24 wxDAI
9 months
40.00%
0.93 wxDAI
1 year
60.00%
0.62 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:
I decreased the entryand exit tributes because I think the tributes being too high could lead to a narrative of ponzi scheme surrounding our token which is not at all beneficial. It would also be a large deterrent to many buying the token. We will still retain a lot of funding by holding so much of the token that can go to furthering projects and initiatives.
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
504489.43
1956421.69
1.55
250000.00 wxDAI
5000.0
133175.53 TEC
2.16
15.75%
1
749489.43
2089597.21
2.16
5000.00 wxDAI
100.0
2266.58 TEC
2.17
0.27%
2
754389.43
2091863.79
2.17
100000.00 wxDAI
2000.0
42938.84 TEC
2.4
5.02%
3
852389.43
2134802.63
2.4
3000.00 TEC
143.5
7031.38 wxDAI
2.38
0.35%
ABC Overview
Reserve (wxDai)
Supply (TEC)
Price (wxDai/TEC)
Market cap
10,000
1,019,033
0.06
60,124.36
50,000
1,331,854
0.23
300,561.44
100,000
1,494,635
0.40
601,107.72
200,000
1,677,316
0.72
1,202,200.79
300,000
1,794,360
1.00
1,803,294.88
400,000
1,882,325
1.28
2,404,385.96
500,000
1,953,516
1.54
3,005,479.68
600,000
2,013,676
1.79
3,606,571.44
700,000
2,065,985
2.04
4,207,669.77
800,000
2,112,394
2.28
4,808,763.37
900,000
2,154,194
2.51
5,409,853.08
1,000,000
2,192,285
2.74
6,010,942.67
1,250,000
2,275,199
3.30
7,513,680.94
1,500,000
2,345,267
3.84
9,016,418.06
1,750,000
2,406,189
4.37
10,519,143.91
2,000,000
2,460,240
4.89
12,021,874.41
2,500,000
2,553,288
5.89
15,027,347.96
3,000,000
2,631,919
6.85
18,032,811.14
3,500,000
2,700,288
7.79
21,038,280.85
4,000,000
2,760,945
8.71
24,043,742.00
5,000,000
2,865,366
10.49
30,054,668.08
7,500,000
3,065,316
14.71
45,082,019.34
10,000,000
3,215,588
18.69
60,109,345.12
15,000,000
3,439,977
26.21
90,163,979.75
20,000,000
3,608,618
33.31
120,218,725.73
50,000,000
4,202,846
71.51
300,546,639.85
100,000,000
4,716,544
127.44
601,093,202.82
Module 3: Tao Voting
Strategy:
I think this is not too short or too long. If a DAO takes too long to make decisions, it hinders its progress and ability to execute. I think this is enough time without too much barrier to entry and allows for voters to make informed decisions without sacrificing efficiency.
Parameter
Value
Support Required
75%
Minimum Quorum
10%
Vote Duration
5 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
5 days
6 days
7 days
Time to Review a Delegates Vote
1 days
2 days
3 days
Time to Execute a Passing Proposal
6 days
7 days
8 days
Module 4: Conviction Voting
Strategy:
I think any more than spending 10% of our funds at once would be crazy!! 10% is the highest I think is reasonable.
Parameter
Value
Conviction Growth
5 day(s)
Minimum Conviction
0.5%
Spending Limit
10.0%
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: 13 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 13 weeks. They can still be used to vote while frozen.
Token Thaw: 65 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 65 weeks later.
Opening Price: 1.55 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.55 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
Commons Tribute: 60.00%, which means that 60.00% of the Hatch funds (756734.14 wxDAI) will go to the Common Pool and 40.00% (504489.43 wxDAI) will go to the ABC's Reserve.
Entry Tribute: 2.00% meaning that from every BUY order on the ABC, 2.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Exit Tribute: 5.00% meaning that from every SELL order on the ABC, 5.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
Support Required: 75%, which means 75% of all votes must be in favor of a proposal for it to pass.
Minimum Quorum: 10%, meaning that 10% of all tokens need to have voted on a proposal in order for it to become valid.
Vote Duration: 5 day(s), meaning that eligible voters will have 5 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: 5 day(s), meaning that voting power will increase by 50% every 5 days that they are staked behind a proposal, so after 10 days, a voters voting power will have reached 75% of it's maximum capacity.
Minimum Conviction: 0.5%, this means that to pass any funding request it will take at least 0.5% of the actively voting TEC tokens.
The Spending Limit: 10.0%, which means that no more than 10.0% of the total funds in the Common Pool can be funded by a single proposal.
What is the overall Commons Configuration strategy?
I think this strategy is reasonable and efficient, allows fair structure for decision making, low barrier to entry, and ample funding for the project to succeed while also having a successful token launch.
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:
I think the token freeze should be shorter because of the quick nature of our markets and DeFi and if we make it too long we could end up being in a crypto winter which would limit demand and options, but I think the thaw should still be 1+ years so that things are too fast and we still are being intentional about things.
Hatcher's TEC Release Schedule
Token Release Timeline
Module 2: Augmented Bonding Curve (ABC)
Strategy:
I decreased the entryand exit tributes because I think the tributes being too high could lead to a narrative of ponzi scheme surrounding our token which is not at all beneficial. It would also be a large deterrent to many buying the token. We will still retain a lot of funding by holding so much of the token that can go to furthering projects and initiatives.
*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 this is not too short or too long. If a DAO takes too long to make decisions, it hinders its progress and ability to execute. I think this is enough time without too much barrier to entry and allows for voters to make informed decisions without sacrificing efficiency.
Tao Voting Timeline From Proposal To Execution
Timeline Data
Module 4: Conviction Voting
Strategy:
I think any more than spending 10% of our funds at once would be crazy!! 10% is the highest I think is reasonable.
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)