What is the overall Commons Configuration strategy?
This is a less kinky fork
Taking Nate's Orogeny CV params and adding simple numbers and a little spice that give a good balance between funding the Economic arm and the Value Creation arm. The strategy is to have a design that will attract value aligned TEs, keeping the Reserve Ratio reasonable at 20% and having a high entry tribute to keep out speculators but attract value aligned participants that missed the Hatch. With this strategy, we should change the Tributes to tighten them up within 2 months of launch.
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: 1.65 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.65 wxDAI making it the price floor during the Token Freeze.
Strategy:
Considering the decent profit (69% / 111%) 1.5 year vesting seems fine. 6 months to get the economy going, 1 year after that to slowly vest... if some one had 10,000 tokens they would get about ~25 tokens a day.
Module 2: Augmented Bonding Curve (ABC)
Data:
Step #
Current Price
Amount In
Tribute Collected
Amount Out
New Price
Price Slippage
Step 1
2.06
5000.00 wxDAI
750.0
2059.56 TEC
2.07
0.19%
Step 2
2.07
100000.00 wxDAI
15000.0
39614.49 TEC
2.23
3.64%
Step 3
2.23
3000.00 TEC
998.61
5658.79 wxDAI
2.21
0.28%
Step 4
2.21
100000.00 wxDAI
15000.0
37119.24 TEC
2.37
3.36%
NOTE:
We're very bullish on TEC so we provide the BUY scenario at launch to compare proposals... to explore this proposal's ABC further Click the link below to see their parameters in your dashboard, be warned this will clear any data you have in your dashboard:
Commons Tribute: 47.60%, which means that 47.60% of the Hatch funds (600342.42 wxDAI) will go to the Common Pool and 52.40% (660881.15 wxDAI) will go to the ABC's Reserve.
Entry Tribute: 15.00% meaning that from every BUY order on the ABC, 15.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Exit Tribute: 1.00% meaning that from every SELL order on the ABC, 1.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Strategy:
The Commons Tribute is set so that there is about ~600k in the Common Pool and with the initial buy ~638k. The Entry Tribute (15%) is extremely high.. but this is the only way to get tokens to start so I think it will not dissuade early contributors that are value aligned and I would say we make a plan to lower it and raise the Exit tribute after a few weeks as a strategy to open it up to Speculators
Module 3: Tao Voting
Data:
# of Quiet Ending Extensions
No Extensions
With 1 Extension
With 2 Extensions
Time to Vote on Proposals
7 days
9 days
11 days
Time to Review a Delegates Vote
3 days
5 days
7 days
Time to Execute a Passing Proposal
7.5 days
9.5 days
11.5 days
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: 7 day(s), meaning that eligible voters will have 7 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: 2 day(s), meaning that if the vote outcome changes during the Quiet Ending Period, an additional 2 day(s) will be added for voting.
Execution Delay: 0.5 days(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Strategy:
The Tao Voting parameters provide a voting system that requires a high amount of support (88%), and a moderate quorum (8%) of participation.... this is the same as our HatchDAO The Vote Duration (7 days) allows a sufficient amount of time for community engagement. Delegated Voting (4 days) will end slightly before the active voting period, allowing community members (3 days) an opportunity to alter the outcome of the vote. If the voting outcome is changed, there will be a quiet ending extension of (2 days) for final community engagement. The execution delay (12 hours) is sufficient time for the community to prepare for voting outcomes for those that really care about exiting after a vote is determined given the quiet ending extension.
Module 4: Conviction Voting
Data:
Proposal
Requested Amount (wxDAI)
Common Pool (wxDAI)
Effective supply (TEC)
Tokens Needed To Pass (TEC)
1
1,000
100,000
1,500,000
17219
2
5,000
100,000
1,500,000
33750
3
25,000
100,000
1,500,000
Not possible
4
1,000
750,000
1,500,000
15270
5
5,000
750,000
1,500,000
16427
6
25,000
750,000
1,500,000
24795
Conviction Growth: 45 day(s), meaning that voting power will increase by 50% every 45 days that they are staked behind a proposal, so after 14 days, a voters voting power will have reached 75% of it's maximum capacity.
Minimum Conviction: 1.0%, this means that to pass any funding request it will take at least 1.0% 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.
Strategy:
With the conviction voting module, I set the Spending Limit (15%) on the lower side ensuring that we fund proposals incrementally if possible, and not risk a large amount of funds on any single project. The low Minimum Conviction (1%) and high Conviction Growth (45 days) ensures that it takes a lot of tokens to pass proposals quickly but minority token holders with patience and persistence can still fund projects and that the community has an opportunity to move their tokens between proposals without impacting their conviction too quickly.
This will be empty or non-existent if the user did not change any advanced settings from their default. Any settings changed from default will show up here
What is the overall Commons Configuration strategy?
This is a less kinky fork
Taking Nate's Orogeny CV params and adding simple numbers and a little spice that give a good balance between funding the Economic arm and the Value Creation arm. The strategy is to have a design that will attract value aligned TEs, keeping the Reserve Ratio reasonable at 20% and having a high entry tribute to keep out speculators but attract value aligned participants that missed the Hatch. With this strategy, we should change the Tributes to tighten them up within 2 months of launch.
Advanced Settings Modified? Yes
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
Data:
Strategy:
Considering the decent profit (69% / 111%) 1.5 year vesting seems fine. 6 months to get the economy going, 1 year after that to slowly vest... if some one had 10,000 tokens they would get about ~25 tokens a day.
Module 2: Augmented Bonding Curve (ABC)
Data:
NOTE:
We're very bullish on TEC so we provide the BUY scenario at launch to compare proposals... to explore this proposal's ABC further Click the link below to see their parameters in your dashboard, be warned this will clear any data you have in your dashboard:
FORK THIS PROPOSAL (link)
ABC Configuration Table
Strategy:
The Commons Tribute is set so that there is about ~600k in the Common Pool and with the initial buy ~638k. The Entry Tribute (15%) is extremely high.. but this is the only way to get tokens to start so I think it will not dissuade early contributors that are value aligned and I would say we make a plan to lower it and raise the Exit tribute after a few weeks as a strategy to open it up to Speculators
Module 3: Tao Voting
Data:
Strategy:
The Tao Voting parameters provide a voting system that requires a high amount of support (88%), and a moderate quorum (8%) of participation.... this is the same as our HatchDAO The Vote Duration (7 days) allows a sufficient amount of time for community engagement. Delegated Voting (4 days) will end slightly before the active voting period, allowing community members (3 days) an opportunity to alter the outcome of the vote. If the voting outcome is changed, there will be a quiet ending extension of (2 days) for final community engagement. The execution delay (12 hours) is sufficient time for the community to prepare for voting outcomes for those that really care about exiting after a vote is determined given the quiet ending extension.
Module 4: Conviction Voting
Data:
Strategy:
With the conviction voting module, I set the Spending Limit (15%) on the lower side ensuring that we fund proposals incrementally if possible, and not risk a large amount of funds on any single project. The low Minimum Conviction (1%) and high Conviction Growth (45 days) ensures that it takes a lot of tokens to pass proposals quickly but minority token holders with patience and persistence can still fund projects and that the community has an opportunity to move their tokens between proposals without impacting their conviction too quickly.
FORK THIS PROPOSAL (link)
*Advanced Settings
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)