What is the overall Commons Configuration strategy?
We need at least 6 months operational budget in the common pool. With this we start with 12, which gives us some for outside proposals. I feel like even 10% at a time is a lot to ask.
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%
1.00 wxDAI
6 months
3.85%
0.96 wxDAI
9 months
28.85%
0.71 wxDAI
1 year
53.85%
0.46 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:
When we run a bear market and sell 20% of the coins we still stay above 1 wxDai for value.
I like the entry and exit to match, so it doesn't seem usurious. I think 3% is the max transaction charge that's ok.
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
660611.79
2041863.58
1.0
250000.00 wxDAI
0.0
223422.76 TEC
1.24
10.63%
1
910611.78
2265286.34
1.24
5000.00 wxDAI
0.0
4016.75 TEC
1.25
0.19%
2
915611.78
2269303.09
1.25
100000.00 wxDAI
0.0
77392.82 TEC
1.34
3.48%
3
1015611.78
2346695.9
1.34
3000.00 TEC
0.0
4007.67 wxDAI
1.33
0.13%
4
1011604.11
2343695.9
1.33
5000.00 wxDAI
0.0
3741.59 TEC
1.34
0.17%
5
1016604.11
2347437.49
1.34
50000.00 TEC
0.0
65449.27 wxDAI
1.28
2.21%
6
951154.84
2297437.49
1.28
3000.00 wxDAI
0.0
2341.91 TEC
1.28
0.11%
7
954154.84
2299779.4
1.28
100000.00 TEC
0.0
122499.61 wxDAI
1.17
4.47%
ABC Overview
Reserve (wxDai)
Supply (TEC)
Price (wxDai/TEC)
Market cap
10,000
526,293
0.06
30,911.89
50,000
885,841
0.17
154,546.57
100,000
1,108,531
0.28
309,089.82
200,000
1,387,205
0.45
618,176.69
300,000
1,581,655
0.59
927,263.24
400,000
1,735,935
0.71
1,236,350.24
500,000
1,865,894
0.83
1,545,436.54
600,000
1,979,269
0.94
1,854,523.72
700,000
2,080,484
1.04
2,163,610.24
800,000
2,172,334
1.14
2,472,696.97
900,000
2,256,712
1.23
2,781,783.80
1,000,000
2,334,964
1.32
3,090,870.01
1,250,000
2,509,770
1.54
3,863,586.73
1,500,000
2,662,268
1.74
4,636,303.91
1,750,000
2,798,409
1.93
5,409,020.93
2,000,000
2,921,955
2.12
6,181,737.97
2,500,000
3,140,706
2.46
7,727,172.17
3,000,000
3,331,540
2.78
9,272,605.21
3,500,000
3,501,907
3.09
10,818,039.23
4,000,000
3,656,511
3.38
12,363,472.69
5,000,000
3,930,254
3.93
15,454,339.89
7,500,000
4,481,176
5.17
23,181,508.62
10,000,000
4,918,288
6.28
30,908,679.11
15,000,000
5,607,708
8.27
46,363,014.40
20,000,000
6,154,706
10.04
61,817,355.08
50,000,000
8,278,550
18.67
154,543,375.45
100,000,000
10,359,712
29.84
309,086,747.29
Module 3: Tao Voting
Strategy:
give a quick timeline for metagovernance proposals to pass. if there is contention then we add a generous extensions for maxiumum community input.
Parameter
Value
Support Required
88%
Minimum Quorum
8%
Vote Duration
5 day(s)
Delegated Voting Period
3 day(s)
Quiet Ending Period
2 day(s)
Quiet Ending Extension
3 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
8 days
11 days
Time to Review a Delegates Vote
2 days
5 days
8 days
Time to Execute a Passing Proposal
6 days
9 days
12 days
Module 4: Conviction Voting
Strategy:
bumping it up to 15% we can reasonably see successful funding requests for 10%, which is a good chunk of money for funding WGs and bootstrapping projects.
Parameter
Value
Conviction Growth
5 day(s)
Minimum Conviction
5.0%
Spending Limit
15.0%
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: 24 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 24 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: 1 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
Commons Tribute: 50.00%, which means that 50.00% of the Hatch funds (660611.79 wxDAI) will go to the Common Pool and 50.00% (660611.79 wxDAI) will go to the ABC's Reserve.
Entry Tribute: 0.00% meaning that from every BUY order on the ABC, 0.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Exit Tribute: 3.00% meaning that from every SELL order on the ABC, 3.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
Support Required: 88%, which means 88% of all votes must be in favor of a proposal for it to pass.
Minimum Quorum: 8%, meaning that 8% 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 3 day(s), meaning that Delegates will have 3 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: 3 day(s), meaning that if the vote outcome changes during the Quiet Ending Period, an additional 3 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: 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: 15.0%, which means that no more than 15.0% of the total funds in the Common Pool can be funded by a single proposal.
What is the overall Commons Configuration strategy?
We need at least 6 months operational budget in the common pool. With this we start with 12, which gives us some for outside proposals. I feel like even 10% at a time is a lot to ask.
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 gives us enough to operate for 1 year
Hatcher's TEC Release Schedule
![]()
Token Release Timeline
Module 2: Augmented Bonding Curve (ABC)
Strategy:
When we run a bear market and sell 20% of the coins we still stay above 1 wxDai for value. I like the entry and exit to match, so it doesn't seem usurious. I think 3% is the max transaction charge that's ok.
*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:
give a quick timeline for metagovernance proposals to pass. if there is contention then we add a generous extensions for maxiumum community input.
Tao Voting Timeline From Proposal To Execution
![]()
Timeline Data
Module 4: Conviction Voting
Strategy:
bumping it up to 15% we can reasonably see successful funding requests for 10%, which is a good chunk of money for funding WGs and bootstrapping 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)