You can't reach the moon without aiming for the stars
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What is the overall Commons Configuration strategy?
I attempted to incentivize a dao-first strategy. One that creates a large secure reserve and imposes small limits on withdrawls to fund external projects. I also pushed for shorter overall voting times and a very high initial price. Large values to help demonstrate the system.
Advanced Settings Modified? Yes
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
| Parameter | Value |
|---|---|
| Token Freeze | 10 Weeks |
| Token Thaw | 52 Weeks |
| Opening Price | 1.99 wxDAI |
Module 2: Augmented Bonding Curve
| Parameter | Value |
|---|---|
| Commons Tribute | 35.00% |
| Entry Tribute | 1.10% |
| Exit Tribute | 5.00% |
| *Reserve Ratio | 21.06% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
| Parameters | Value |
|---|---|
| Support Required | 95% |
| Minimum Quorum | 20% |
| Vote Duration | 5 days(s) |
| Delegated Voting Period | 3 day(s) |
| Quiet Ending Period | 2 day(s) |
| Quiet Ending Extension | 2 day(s) |
| Execution Delay | 1 day(s) |
Module 4: Conviction Voting
| Parameter | Value |
|---|---|
| Conviction Growth | 4 day(s) |
| Minimum Conviction | 0.2% |
| Spending Limit | 10.0% |
Module 1: Token Freeze and Token Thaw
Data:
This is the theoretical Price Floor for TEC. It would only be reached if all tokens that were liquid were burned and no liquid tokens existed, which is very unlikely to occur.
| Duration | % of Tokens Released | Price Floor of Token |
|---|---|---|
| 3 months | 5.77% | 1.88 wxDAI |
| 6 months | 30.77% | 1.38 wxDAI |
| 9 months | 55.77% | 0.88 wxDAI |
| 1 year | 80.77% | 0.38 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 |
- Token Freeze: 10 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 10 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: 1.99 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.99 wxDAI making it the price floor during the Token Freeze.
Strategy:
I wanted to start with a high price.
Module 2: Augmented Bonding Curve (ABC)
Data:
This shows how the TEC Price changes with the ABC's Reserve Balance, highlighting the Initial Buy that will happen at launch.
| Step # | Current Price | Amount In | Tribute Collected | Amount Out | New Price | Price Slippage |
|---|---|---|---|---|---|---|
| Step 1 | 2.45 | 5000.00 wxDAI | 55.0 | 2014.41 TEC | 2.46 | 0.18% |
| Step 2 | 2.46 | 50000.00 TEC | 1292.71 | 116226.50 wxDAI | 2.24 | 4.43% |
| Step 3 | 2.24 | 3000.00 wxDAI | 33.0 | 1320.64 TEC | 2.25 | 0.12% |
| Step 4 | 2.25 | -10000.00 wxDAI | -110.0 | -4414.78 TEC | 2.23 | -0.41% |
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)
| Allocation of Funds | wxDAI |
|---|---|
| Common Pool (Before Initial Buy) | 441428.25 |
| Reserve (Before Initial Buy) | 819795.32 |
| Common Pool (After Initial Buy) | 444178.25 |
| Reserve (After Initial Buy) | 1067045.32 |
ABC Configuration Table
| Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) |
|---|---|---|
| 10,000 | 773,600 | 0.06 |
| 50,000 | 1,085,633 | 0.22 |
| 100,000 | 1,256,227 | 0.38 |
| 200,000 | 1,453,631 | 0.65 |
| 300,000 | 1,583,189 | 0.90 |
| 400,000 | 1,682,057 | 1.13 |
| 500,000 | 1,762,977 | 1.35 |
| 600,000 | 1,831,975 | 1.56 |
| 700,000 | 1,892,414 | 1.76 |
| 800,000 | 1,946,379 | 1.95 |
| 900,000 | 1,995,255 | 2.14 |
| 1,000,000 | 2,040,015 | 2.33 |
| 1,250,000 | 2,138,156 | 2.78 |
| 1,500,000 | 2,221,837 | 3.21 |
| 1,750,000 | 2,295,139 | 3.62 |
| 2,000,000 | 2,360,588 | 4.02 |
| 2,500,000 | 2,474,151 | 4.80 |
| 3,000,000 | 2,570,983 | 5.54 |
| 3,500,000 | 2,655,803 | 6.26 |
| 4,000,000 | 2,731,537 | 6.95 |
| 5,000,000 | 2,862,946 | 8.29 |
| 7,500,000 | 3,118,115 | 11.42 |
| 10,000,000 | 3,312,837 | 14.34 |
| 15,000,000 | 3,608,104 | 19.74 |
| 20,000,000 | 3,833,425 | 24.78 |
| 50,000,000 | 4,649,218 | 51.07 |
| 100,000,000 | 5,379,809 | 88.28 |
- Commons Tribute: 35.00%, which means that 35.00% of the Hatch funds (441428.25 wxDAI) will go to the Common Pool and 65.00% (819795.32 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 1.10% meaning that from every BUY order on the ABC, 1.10% 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.
Strategy:
Wabted to create a large dao reserve, cheap proposals and easy exits.
Module 3: Tao Voting
Data:
This shows how the timeline stacks up for decision votes that can change the configuration after launch.
| # of Quiet Ending Extensions | No Extensions | With 1 Extension | With 2 Extensions |
|---|---|---|---|
| Time to Vote on Proposals | 5 days | 7 days | 9 days |
| Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
| Time to Execute a Passing Proposal | 6 days | 8 days | 10 days |
- Support Required: 95%, which means 95% of all votes must be in favor of a proposal for it to pass.
- Minimum Quorum: 20%, meaning that 20% 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: 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: 1 days(s), meaning that there is an 1 day delay after the vote is passed before the proposed action is executed.
Strategy:
wanted to incentivize a cohesive community by large majorities.
Also think votes can happen rapidly. People must adapt and get active to govern in this rapidly moving space.
Module 4: Conviction Voting
Data:
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.
| Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
|---|---|---|---|---|
| 1 | 1,000 | 100,000 | 1,500,000 | 3703 |
| 2 | 5,000 | 100,000 | 1,500,000 | 12000 |
| 3 | 25,000 | 100,000 | 1,500,000 | Not possible |
| 4 | 1,000 | 750,000 | 1,500,000 | 3081 |
| 5 | 5,000 | 750,000 | 1,500,000 | 3443 |
| 6 | 25,000 | 750,000 | 1,500,000 | 6749 |
- Conviction Growth: 4 day(s), meaning that voting power will increase by 50% every 4 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: 0.2%, this means that to pass any funding request it will take at least 0.2% 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.
Strategy:
A couplel proposals with high spending limit could destroy our reserves. Better to keep it low. Projects can always re-apply if needed.
FORK THIS PROPOSAL (link)
*Advanced Settings
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
| Parameter | Value |
|---|---|
| Common Pool Amount | 0 wxDAI |
| HNY Liquidity | 100 wxDAI |
| Garden Liquidity | 1 TEC |
| Virtual Supply | 1 TEC |
| Virtual Balance | 1 wxDAI |
| Transferable | |
| Token Name | Token Engineering Commons |
| Token Symbol | TEC |
| Proposal Deposit | 200 wxDAI |
| Challenge Deposit | 400 wxDAI |
| Settlement Period | 5 days |
| Minimum Effective Supply | 0.01% |
| Hatchers Rage Quit | 60000 wxDAI |
| Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum