What is the overall Commons Configuration strategy?
This is a magic strategy that incentivizes a tight strong community with large reserve pool. This strategy enables the TEC to fund many proposals and nimbly react to global and local events, thanks to shorter voting periods and conviction growth periods.
Most people coming into crypto are clueless. I believe the risk of being accused of price manipulation is very small and negligible. So I set a high opening price to benefit the dao.
Parameter
Value
Token Freeze
73 Weeks
Token Thaw
37 Weeks
Opening Price
1.37 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%
1.37 wxDAI
6 months
0.00%
1.37 wxDAI
9 months
0.00%
1.37 wxDAI
1 year
0.00%
1.37 wxDAI
1.5 years
13.51%
1.18 wxDAI
2 years
83.78%
0.22 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:
Need to keep tributes low to encourage entry to the community.
Tributes low + Magic = Wizards will join our community.
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
794570.85
1956421.69
1.37
250000.00 wxDAI
9250.0
159682.16 TEC
1.65
9.13%
1
1035320.85
2116103.84
1.65
5000.00 wxDAI
185.0
2912.72 TEC
1.66
0.16%
2
1040135.85
2119016.56
1.66
100000.00 wxDAI
3700.0
56359.00 TEC
1.76
3.10%
3
1136435.85
2175375.57
1.76
3000.00 TEC
195.29
5082.74 wxDAI
1.76
0.16%
ABC Overview
Reserve (wxDai)
Supply (TEC)
Price (wxDai/TEC)
Market cap
10,000
534,793
0.06
33,736.62
50,000
861,752
0.20
168,667.10
100,000
1,058,329
0.32
337,330.44
200,000
1,299,751
0.52
674,656.91
300,000
1,465,756
0.69
1,011,983.27
400,000
1,596,245
0.85
1,349,309.37
500,000
1,705,408
0.99
1,686,635.50
600,000
1,800,120
1.12
2,023,962.40
700,000
1,884,290
1.25
2,361,288.73
800,000
1,960,376
1.38
2,698,614.84
900,000
2,030,034
1.50
3,035,941.14
1,000,000
2,094,441
1.61
3,373,268.05
1,250,000
2,237,675
1.88
4,216,583.19
1,500,000
2,361,947
2.14
5,059,900.58
1,750,000
2,472,387
2.39
5,903,215.25
2,000,000
2,572,220
2.62
6,746,532.80
2,500,000
2,748,127
3.07
8,433,163.83
3,000,000
2,900,748
3.49
10,119,795.17
3,500,000
3,036,381
3.89
11,806,428.75
4,000,000
3,158,988
4.27
13,493,061.69
5,000,000
3,375,023
5.00
16,866,322.80
7,500,000
3,806,088
6.65
25,299,487.49
10,000,000
4,144,926
8.14
33,732,643.62
15,000,000
4,674,324
10.82
50,598,965.14
20,000,000
5,090,456
13.25
67,465,289.58
50,000,000
6,679,216
25.25
168,663,217.93
100,000,000
8,202,863
41.12
337,326,452.37
Module 3: Tao Voting
Strategy:
incentivizing cohesiveness, long quiet ending period. Shorter voting periods, high quorum.
Crypto moves fast. So should our votes. Plus check out the cool 5,4,3,2,1 countdown!
Taoism included magic, and so should this.
Parameter
Value
Support Required
73%
Minimum Quorum
7%
Vote Duration
3 day(s)
Delegated Voting Period
3 day(s)
Quiet Ending Period
3 day(s)
Quiet Ending Extension
3 day(s)
Execution Delay
1.37 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
3 days
6 days
9 days
Time to Review a Delegates Vote
0 days
3 days
6 days
Time to Execute a Passing Proposal
4.37 days
7.37 days
10.370000000000001 days
Module 4: Conviction Voting
Strategy:
Low conviction minimum to encourage lots of proposals.
Low spending limit to ensure many projects may get funded, not just a few big ones. Since crypto does move fast our conviction should be short. Lets try for 7 magical days.
Parameter
Value
Conviction Growth
7 day(s)
Minimum Conviction
0.73%
Spending Limit
7.3%
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: 73 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 73 weeks. They can still be used to vote while frozen.
Token Thaw: 37 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 37 weeks later.
Opening Price: 1.37 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.37 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
Commons Tribute: 37.00%, which means that 37.00% of the Hatch funds (466652.72 wxDAI) will go to the Common Pool and 63.00% (794570.85 wxDAI) will go to the ABC's Reserve.
Entry Tribute: 3.70% meaning that from every BUY order on the ABC, 3.70% of the order value in wxDAI is subtracted and sent to the Common Pool.
Exit Tribute: 3.70% meaning that from every SELL order on the ABC, 3.70% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
Support Required: 73%, which means 73% of all votes must be in favor of a proposal for it to pass.
Minimum Quorum: 7%, meaning that 7% of all tokens need to have voted on a proposal in order for it to become valid.
Vote Duration: 3 day(s), meaning that eligible voters will have 3 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: 3 day(s), this means that 3 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: 1.37 day(s), meaning that there is an 1.37 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 6 days, a voters voting power will have reached 75% of it's maximum capacity.
Minimum Conviction: 0.73%, this means that to pass any funding request it will take at least 0.73% of the actively voting TEC tokens.
The Spending Limit: 7.3%, which means that no more than 7.3% of the total funds in the Common Pool can be funded by a single proposal.
What is the overall Commons Configuration strategy?
This is a magic strategy that incentivizes a tight strong community with large reserve pool. This strategy enables the TEC to fund many proposals and nimbly react to global and local events, thanks to shorter voting periods and conviction growth periods.
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:
7 and 3 are magic numbers. Let's add some magic!
Most people coming into crypto are clueless. I believe the risk of being accused of price manipulation is very small and negligible. So I set a high opening price to benefit the dao.
Hatcher's TEC Release Schedule
Token Release Timeline
Module 2: Augmented Bonding Curve (ABC)
Strategy:
Need to keep tributes low to encourage entry to the community.
Tributes low + Magic = Wizards will join our community.
*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:
incentivizing cohesiveness, long quiet ending period. Shorter voting periods, high quorum. Crypto moves fast. So should our votes. Plus check out the cool 5,4,3,2,1 countdown!
Taoism included magic, and so should this.
Tao Voting Timeline From Proposal To Execution
Timeline Data
Module 4: Conviction Voting
Strategy:
Low conviction minimum to encourage lots of proposals. Low spending limit to ensure many projects may get funded, not just a few big ones. Since crypto does move fast our conviction should be short. Lets try for 7 magical days.
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)