tec-config-proposals-update's People
tec-config-proposals-update's Issues
SofGov Bookmark Proposal fork of Ostrom's 1 Million Dollar Baby
What is the overall Commons Configuration strategy?
We tried to make a proposal to have 1 million dollars in the common pool while taking into account Ostroms principles to have a sustainable CPR
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 40 Weeks |
Opening Price | 1.5 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 12.00% |
Exit Tribute | 1.00% |
*Reserve Ratio | 10.74% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 2 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 9.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 40 Weeks |
Opening Price | 1.5 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% | 1.50 wxDAI |
6 months | 0.00% | 1.50 wxDAI |
9 months | 0.00% | 1.50 wxDAI |
1 year | 30.00% | 1.05 wxDAI |
1.5 years | 95.00% | 0.07 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:
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 12.00% |
Exit Tribute | 1.00% |
*Reserve Ratio | 10.74% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 975917.68 |
Reserve (After Initial Buy) | 535305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.5 | 250000.00 wxDAI | 30000.0 | 114484.36 TEC | 2.41 | 21.94% |
1 | 535305.89 | 2070906.05 | 2.41 | 5000.00 wxDAI | 600.0 | 1822.22 TEC | 2.42 | 0.36% |
2 | 539705.89 | 2072728.27 | 2.42 | 100000.00 wxDAI | 12000.0 | 33912.73 TEC | 2.77 | 6.61% |
3 | 627705.89 | 2106641.01 | 2.77 | 3000.00 TEC | 992.48 | 7278.19 wxDAI | 2.74 | 0.59% |
4 | 619435.22 | 2103641.01 | 2.74 | 5000.00 wxDAI | 600.0 | 1600.42 TEC | 2.76 | 0.32% |
5 | 623835.22 | 2105241.43 | 2.76 | 100000.00 wxDAI | 12000.0 | 30061.15 TEC | 3.1 | 5.79% |
6 | 711835.22 | 2135302.58 | 3.1 | 3000.00 TEC | 1110.48 | 8143.53 wxDAI | 3.07 | 0.58% |
7 | 702581.21 | 2132302.58 | 3.07 | 2000.00 TEC | 733.14 | 5376.39 wxDAI | 3.04 | 0.39% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,350,372 | 0.07 | 93,111.06 |
50,000 | 1,605,230 | 0.29 | 465,399.85 |
100,000 | 1,729,334 | 0.54 | 930,759.99 |
200,000 | 1,863,038 | 1.00 | 1,861,486.75 |
300,000 | 1,945,992 | 1.43 | 2,792,212.87 |
400,000 | 2,007,080 | 1.85 | 3,722,935.94 |
500,000 | 2,055,782 | 2.26 | 4,653,666.03 |
600,000 | 2,096,449 | 2.66 | 5,584,385.28 |
700,000 | 2,131,460 | 3.06 | 6,515,101.65 |
800,000 | 2,162,261 | 3.44 | 7,445,839.67 |
900,000 | 2,189,798 | 3.83 | 8,376,549.31 |
1,000,000 | 2,214,727 | 4.20 | 9,307,265.73 |
1,250,000 | 2,268,467 | 5.13 | 11,634,069.07 |
1,500,000 | 2,313,343 | 6.03 | 13,960,902.36 |
1,750,000 | 2,351,976 | 6.93 | 16,287,682.08 |
2,000,000 | 2,385,964 | 7.80 | 18,614,548.50 |
2,500,000 | 2,443,859 | 9.52 | 23,268,124.54 |
3,000,000 | 2,492,204 | 11.20 | 27,921,781.18 |
3,500,000 | 2,533,825 | 12.86 | 32,575,413.49 |
4,000,000 | 2,570,439 | 14.48 | 37,228,964.16 |
5,000,000 | 2,632,811 | 17.68 | 46,536,278.31 |
7,500,000 | 2,750,043 | 25.38 | 69,804,342.13 |
10,000,000 | 2,836,373 | 32.81 | 93,072,578.18 |
15,000,000 | 2,962,669 | 47.12 | 139,608,864.90 |
20,000,000 | 3,055,672 | 60.92 | 186,144,786.52 |
50,000,000 | 3,371,807 | 138.02 | 465,362,134.20 |
100,000,000 | 3,632,506 | 256.22 | 930,724,398.98 |
Module 3: Tao Voting
Strategy:
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 2 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 | 7 days | 10 days | 13 days |
Time to Review a Delegates Vote | 5 days | 8 days | 11 days |
Time to Execute a Passing Proposal | 8 days | 11 days | 14 days |
Module 4: Conviction Voting
Strategy:
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 9.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 56953 |
2 | 5,000 | 100,000 | 1,500,000 | 227812 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 46363 |
5 | 5,000 | 750,000 | 1,500,000 | 52487 |
6 | 25,000 | 750,000 | 1,500,000 | 113512 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 40 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 40 weeks. They can still be used to vote while frozen.
- Token Thaw: 40 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 40 weeks later.
- Opening Price: 1.5 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.5 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 12.00% meaning that from every BUY order on the ABC, 12.00% 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.
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: 7 day(s), meaning that eligible voters will have 7 day(s) to vote on a proposal.
- Delegated Voting Period is set for 2 day(s), meaning that Delegates will have 2 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 3.0%, this means that to pass any funding request it will take at least 3.0% of the actively voting TEC tokens.
- The Spending Limit: 9.0%, which means that no more than 9.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Mathmematics V2 with lower spending limit
What is the overall Commons Configuration strategy?
UPDATE: We noticed our initial price was non-conforming to the way - this could not be! We changed it to 1.47 (147 = 7 * 21) and rose the commons tribute to 63% (79). This leaves the price after the initial buy at 2.08 wxDai (1316!). The rest stays the same...
ORIGINAL:
The universe is vast and unpredictable. Our Commons is taking the bold first steps into a new world brimming with opportunity, but also riddled with risk.
Luckily, we have been given a powerful compass to guide us through uncertainty.
Good and bad. Ying and yang. Luck and misfortune. The wisdom encoded within the numbers 7 and 13 captures the duality of destiny in a way the puny 8 never could. We have followed their lead while designing our commons, and they have made us witness to the pinnacle of paramater design.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 1.47 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 63.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 16.23% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 13.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
This carefully chosen paramters set the best possible stage for the first steps of our DAO:
213 weeks where tokens are frozen to protect against bad luck, then 117 weeks thaw to guarantee smooth sailing. Also, since 2+11 is 13 cosmic balance is preserved throughout.
(For the non-believers, this would "just" amount to a 6 month freeze and a 1.5 year thaw)
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 1.47 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% | 1.47 wxDAI |
6 months | 0.00% | 1.47 wxDAI |
9 months | 16.88% | 1.22 wxDAI |
1 year | 33.77% | 0.97 wxDAI |
1.5 years | 67.53% | 0.48 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:
Anything involving smart contracts should only ever be exposed to good fortune, so here we bet on 777 :
7*7 for commons tribute, and the last 7 as the total tribute paid by somebody who completes the cycle of entering and exiting the TEC.
Parameter | Value |
---|---|
Commons Tribute | 63.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 16.23% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 794570.85 |
Reserve (Before Initial Buy) | 466652.72 |
Common Pool (After Initial Buy) | 803320.85 |
Reserve (After Initial Buy) | 707902.72 |
TEC Price vs ABC Reserve Holdings
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 | 466652.72 | 1956421.69 | 1.47 | 250000.00 wxDAI | 8750.0 | 136863.59 TEC | 2.08 | 16.61% |
1 | 707902.72 | 2093285.27 | 2.08 | 5000.00 wxDAI | 175.0 | 2308.50 TEC | 2.1 | 0.28% |
2 | 712727.72 | 2095593.77 | 2.1 | 100000.00 wxDAI | 3500.0 | 43625.59 TEC | 2.33 | 5.24% |
3 | 809227.72 | 2139219.36 | 2.33 | 3000.00 TEC | 243.9 | 6724.78 wxDAI | 2.31 | 0.36% |
4 | 802259.04 | 2136219.36 | 2.31 | 2000.00 TEC | 161.62 | 4456.18 wxDAI | 2.3 | 0.24% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,048,741 | 0.06 | 61,645.00 |
50,000 | 1,361,661 | 0.23 | 308,161.20 |
100,000 | 1,523,746 | 0.40 | 616,306.17 |
200,000 | 1,705,128 | 0.72 | 1,232,596.46 |
300,000 | 1,821,082 | 1.02 | 1,848,887.10 |
400,000 | 1,908,104 | 1.29 | 2,465,179.17 |
500,000 | 1,978,458 | 1.56 | 3,081,469.21 |
600,000 | 2,037,862 | 1.81 | 3,697,763.38 |
700,000 | 2,089,477 | 2.06 | 4,314,052.82 |
800,000 | 2,135,243 | 2.31 | 4,930,340.87 |
900,000 | 2,176,443 | 2.55 | 5,546,631.72 |
1,000,000 | 2,213,971 | 2.78 | 6,162,919.06 |
1,250,000 | 2,295,602 | 3.36 | 7,703,649.53 |
1,500,000 | 2,364,529 | 3.91 | 9,244,381.59 |
1,750,000 | 2,424,418 | 4.45 | 10,785,104.54 |
2,000,000 | 2,477,521 | 4.98 | 12,325,831.39 |
2,500,000 | 2,568,869 | 6.00 | 15,407,277.55 |
3,000,000 | 2,646,001 | 6.99 | 18,488,740.86 |
3,500,000 | 2,713,019 | 7.95 | 21,570,202.80 |
4,000,000 | 2,772,443 | 8.89 | 24,651,655.78 |
5,000,000 | 2,874,666 | 10.72 | 30,814,554.60 |
7,500,000 | 3,070,154 | 15.06 | 46,221,832.23 |
10,000,000 | 3,216,864 | 19.16 | 61,629,076.00 |
15,000,000 | 3,435,623 | 26.91 | 92,443,702.83 |
20,000,000 | 3,599,799 | 34.24 | 123,258,249.09 |
50,000,000 | 4,176,844 | 73.77 | 308,145,464.46 |
100,000,000 | 4,674,054 | 131.85 | 616,291,224.20 |
Module 3: Tao Voting
Strategy:
Without a doubt, a 7*13 % required support is the perfect metaphor to capture the viscitudes of on-chain governance.
The voting process shall involve 7 days, to adequately ponder weighty decisions.
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 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 | 7 days | 10 days | 13 days |
Time to Review a Delegates Vote | 3 days | 6 days | 9 days |
Time to Execute a Passing Proposal | 8 days | 11 days | 14 days |
Module 4: Conviction Voting
Strategy:
lowered spending limit from the initial proposal
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 13.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 70416 |
2 | 5,000 | 100,000 | 1,500,000 | 158437 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 61249 |
5 | 5,000 | 750,000 | 1,500,000 | 66661 |
6 | 25,000 | 750,000 | 1,500,000 | 108513 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 77 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 77 weeks later.
- Opening Price: 1.47 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.47 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 63.00%, which means that 63.00% of the Hatch funds (794570.85 wxDAI) will go to the Common Pool and 37.00% (466652.72 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.50% meaning that from every BUY order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 3.50% meaning that from every SELL order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 91%, which means 91% 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: 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: 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 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 13.0%, which means that no more than 13.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
TEC Casino (our money is safe on the common pool) V3 collaborative economics
What is the overall Commons Configuration strategy?
Have the money on the Common Pool and have fun gambling and funding TE public goods
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.2 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 95.00% |
Entry Tribute | 0.75% |
Exit Tribute | 0.75% |
*Reserve Ratio | 2.69% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 0.5 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 20 day(s) |
Minimum Conviction | 2.25% |
Spending Limit | 9.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Fork of TEC Casino with longer vesting
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.2 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% | 1.20 wxDAI |
6 months | 0.00% | 1.20 wxDAI |
9 months | 0.00% | 1.20 wxDAI |
1 year | 0.00% | 1.20 wxDAI |
1.5 years | 25.00% | 0.90 wxDAI |
2 years | 50.00% | 0.60 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:
The value of the token will be high as long as we have funds in the common pool so 95% of the funds are going to be governed by the token holders and the boding curve will be a casino where people can make a lot of money and fund TE public goods
Parameter | Value |
---|---|
Commons Tribute | 95.00% |
Entry Tribute | 0.75% |
Exit Tribute | 0.75% |
*Reserve Ratio | 2.69% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 1198162.39 |
Reserve (Before Initial Buy) | 63061.18 |
Common Pool (After Initial Buy) | 1200037.39 |
Reserve (After Initial Buy) | 311186.18 |
TEC Price vs ABC Reserve Holdings
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 | 63061.18 | 1956421.69 | 1.2 | 250000.00 wxDAI | 1875.0 | 85710.80 TEC | 5.67 | 58.55% |
1 | 311186.18 | 2042132.48 | 5.67 | 5000.00 wxDAI | 37.5 | 868.03 TEC | 5.76 | 0.77% |
2 | 316148.68 | 2043000.51 | 5.76 | 100000.00 wxDAI | 750.0 | 15037.81 TEC | 7.51 | 12.71% |
3 | 415398.68 | 2058038.32 | 7.51 | 3000.00 TEC | 164.68 | 21793.26 wxDAI | 7.13 | 2.60% |
4 | 393440.73 | 2055038.32 | 7.13 | 1.00 TEC | 0.05 | 7.07 wxDAI | 7.13 | 0.00% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,862,093 | 0.20 | 372,963.91 |
50,000 | 1,944,280 | 0.96 | 1,862,050.76 |
100,000 | 1,980,811 | 1.88 | 3,723,572.80 |
200,000 | 2,018,031 | 3.69 | 7,446,386.76 |
300,000 | 2,040,127 | 5.47 | 11,169,024.91 |
400,000 | 2,055,952 | 7.24 | 14,891,764.88 |
500,000 | 2,068,312 | 9.00 | 18,614,880.85 |
600,000 | 2,078,465 | 10.75 | 22,337,486.38 |
700,000 | 2,087,087 | 12.49 | 26,059,542.54 |
800,000 | 2,094,586 | 14.22 | 29,781,838.03 |
900,000 | 2,101,226 | 15.95 | 33,506,196.46 |
1,000,000 | 2,107,181 | 17.67 | 37,229,252.30 |
1,250,000 | 2,119,849 | 21.95 | 46,536,357.59 |
1,500,000 | 2,130,254 | 26.21 | 55,842,401.40 |
1,750,000 | 2,139,094 | 30.46 | 65,150,516.21 |
2,000,000 | 2,146,779 | 34.68 | 74,455,278.23 |
2,500,000 | 2,159,685 | 43.09 | 93,070,161.65 |
3,000,000 | 2,170,286 | 51.46 | 111,681,466.81 |
3,500,000 | 2,179,292 | 59.79 | 130,297,551.05 |
4,000,000 | 2,187,122 | 68.08 | 148,907,968.27 |
5,000,000 | 2,200,270 | 84.60 | 186,133,512.23 |
7,500,000 | 2,224,365 | 125.52 | 279,204,103.68 |
10,000,000 | 2,241,621 | 166.08 | 372,281,447.92 |
15,000,000 | 2,266,167 | 246.41 | 558,405,484.19 |
20,000,000 | 2,283,747 | 326.02 | 744,554,146.41 |
50,000,000 | 2,340,653 | 795.24 | 1,861,388,770.29 |
100,000,000 | 2,384,639 | 1,561.12 | 3,722,715,829.92 |
Module 3: Tao Voting
Strategy:
I like hatch params so no big changes on our god mode
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 0.5 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
This params will make proposals somehow hard to pass but with some support from the community should be ok, and that's why the future value of the token will be lead for the value we provide with the common pool funds.
Parameter | Value |
---|---|
Conviction Growth | 20 day(s) |
Minimum Conviction | 2.25% |
Spending Limit | 9.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 42714 |
2 | 5,000 | 100,000 | 1,500,000 | 170859 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 34772 |
5 | 5,000 | 750,000 | 1,500,000 | 39366 |
6 | 25,000 | 750,000 | 1,500,000 | 85134 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 52 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 52 weeks. They can still be used to vote while frozen.
- Token Thaw: 104 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 104 weeks later.
- Opening Price: 1.2 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.2 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 95.00%, which means that 95.00% of the Hatch funds (1198162.39 wxDAI) will go to the Common Pool and 5.00% (63061.18 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 0.75% meaning that from every BUY order on the ABC, 0.75% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.75% meaning that from every SELL order on the ABC, 0.75% 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: 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: 0.5 day(s), this means that 0.5 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 20 day(s), meaning that voting power will increase by 50% every 20 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: 2.25%, this means that to pass any funding request it will take at least 2.25% of the actively voting TEC tokens.
- The Spending Limit: 9.0%, which means that no more than 9.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 250 wxDAI |
Challenge Deposit | 500 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
800k of transparency with 30% of reserve
What is the overall Commons Configuration strategy?
We wanted to have a high reserve ratio and mixed some approach from other proposals like #80 and #84
By: Ivi, Zep & juank :)
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 0.85 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 60.00% |
Entry Tribute | 15.00% |
Exit Tribute | 1.00% |
*Reserve Ratio | 30.34% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 0.5 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 2.0% |
Spending Limit | 10.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Low opening price so that it raises over 1.09 after initial buy, giving 9% of profits to hatchers. 1 year of total vesting with equal 6 months periods.
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 0.85 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% | 0.85 wxDAI |
6 months | 0.00% | 0.85 wxDAI |
9 months | 50.00% | 0.42 wxDAI |
1 year | 100.00% | 0.00 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:
Reserve ratio over 30.3% with 800k in the common pool. The entry tribute will be reduced by 3% every two months, until it reaches 3% and the exit tribute will increase until 3% in that same period of time.
Parameter | Value |
---|---|
Commons Tribute | 60.00% |
Entry Tribute | 15.00% |
Exit Tribute | 1.00% |
*Reserve Ratio | 30.34% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 756734.14 |
Reserve (Before Initial Buy) | 504489.43 |
Common Pool (After Initial Buy) | 794234.14 |
Reserve (After Initial Buy) | 716989.43 |
TEC Price vs ABC Reserve Holdings
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 | 0.85 | 250000.00 wxDAI | 37500.0 | 220159.80 TEC | 1.09 | 11.94% |
1 | 716989.43 | 2176581.49 | 1.09 | 5000.00 wxDAI | 750.0 | 3905.95 TEC | 1.09 | 0.21% |
2 | 721239.43 | 2180487.44 | 1.09 | 100000.00 wxDAI | 15000.0 | 74956.05 TEC | 1.18 | 3.85% |
3 | 806239.43 | 2255443.49 | 1.18 | 3000.00 TEC | 529.43 | 3000.12 wxDAI | 1.17 | 0.15% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 595,505 | 0.06 | 32,966.96 |
50,000 | 970,329 | 0.17 | 164,819.71 |
100,000 | 1,197,404 | 0.28 | 329,635.73 |
200,000 | 1,477,621 | 0.45 | 659,267.35 |
300,000 | 1,671,026 | 0.59 | 988,899.56 |
400,000 | 1,823,416 | 0.72 | 1,318,531.45 |
500,000 | 1,951,125 | 0.84 | 1,648,163.23 |
600,000 | 2,062,083 | 0.96 | 1,977,795.47 |
700,000 | 2,160,805 | 1.07 | 2,307,426.88 |
800,000 | 2,250,135 | 1.17 | 2,637,059.16 |
900,000 | 2,331,989 | 1.27 | 2,966,690.64 |
1,000,000 | 2,407,731 | 1.37 | 3,296,323.27 |
1,250,000 | 2,576,365 | 1.60 | 4,120,402.73 |
1,500,000 | 2,722,880 | 1.82 | 4,944,482.92 |
1,750,000 | 2,853,238 | 2.02 | 5,768,562.77 |
2,000,000 | 2,971,194 | 2.22 | 6,592,642.56 |
2,500,000 | 3,179,292 | 2.59 | 8,240,801.36 |
3,000,000 | 3,360,094 | 2.94 | 9,888,961.94 |
3,500,000 | 3,520,960 | 3.28 | 11,537,121.49 |
4,000,000 | 3,666,519 | 3.60 | 13,185,279.93 |
5,000,000 | 3,923,317 | 4.20 | 16,481,600.08 |
7,500,000 | 4,436,842 | 5.57 | 24,722,401.32 |
10,000,000 | 4,841,461 | 6.81 | 32,963,197.57 |
15,000,000 | 5,475,163 | 9.03 | 49,444,794.44 |
20,000,000 | 5,974,472 | 11.03 | 65,926,393.42 |
50,000,000 | 7,889,001 | 20.89 | 164,815,982.17 |
100,000,000 | 9,735,205 | 33.86 | 329,631,962.74 |
Module 3: Tao Voting
Strategy:
mostly defaults, only 1 day less in delegated voting period and quiet ending period being low to incentivize active participation in the regular voting period.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 0.5 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days | 11 days |
Time to Review a Delegates Vote | 3 days | 5 days | 7 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
with 800k in common pool, the max spending limit would be 80k (10%) and we expect to be able to pass proposals between 20-40k. we reach a minimum conviction of 67k TEC in one month and it stays the same for longer periods of time.
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 2.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 37037 |
2 | 5,000 | 100,000 | 1,500,000 | 120000 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 30816 |
5 | 5,000 | 750,000 | 1,500,000 | 34438 |
6 | 25,000 | 750,000 | 1,500,000 | 67499 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 26 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 26 weeks later.
- Opening Price: 0.85 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 0.85 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: 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.
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: 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: 0.5 day(s), this means that 0.5 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 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 2.0%, this means that to pass any funding request it will take at least 2.0% 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.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
TEC Casino (our money is safe on the common pool) Fork with longer vesting and lower spending limit.
What is the overall Commons Configuration strategy?
Have the money on the Common Pool and have fun gambling and funding TE public goods. liked the initial
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.2 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 95.00% |
Entry Tribute | 1.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 2.69% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 20 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 10.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Fork of TEC Casino with longer vesting
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.2 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% | 1.20 wxDAI |
6 months | 0.00% | 1.20 wxDAI |
9 months | 0.00% | 1.20 wxDAI |
1 year | 0.00% | 1.20 wxDAI |
1.5 years | 25.00% | 0.90 wxDAI |
2 years | 50.00% | 0.60 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:
The value of the token will be high as long as we have funds in the common pool so 95% of the funds are going to be governed by the token holders and the boding curve will be a casino where people can make a lot of money and fund TE public goods
Parameter | Value |
---|---|
Commons Tribute | 95.00% |
Entry Tribute | 1.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 2.69% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 1198162.39 |
Reserve (Before Initial Buy) | 63061.18 |
Common Pool (After Initial Buy) | 1200662.39 |
Reserve (After Initial Buy) | 310561.18 |
TEC Price vs ABC Reserve Holdings
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 | 63061.18 | 1956421.69 | 1.2 | 250000.00 wxDAI | 2500.0 | 85600.52 TEC | 5.66 | 58.50% |
1 | 310561.18 | 2042022.21 | 5.66 | 5000.00 wxDAI | 50.0 | 867.54 TEC | 5.75 | 0.77% |
2 | 315511.18 | 2042889.75 | 5.75 | 100000.00 wxDAI | 1000.0 | 15030.34 TEC | 7.5 | 12.71% |
3 | 414511.18 | 2057920.09 | 7.5 | 3000.00 TEC | 219.12 | 21693.14 wxDAI | 7.11 | 2.60% |
4 | 392598.92 | 2054920.09 | 7.11 | 1.00 TEC | 0.07 | 7.04 wxDAI | 7.11 | 0.00% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,862,093 | 0.20 | 372,963.91 |
50,000 | 1,944,280 | 0.96 | 1,862,050.76 |
100,000 | 1,980,811 | 1.88 | 3,723,572.80 |
200,000 | 2,018,031 | 3.69 | 7,446,386.76 |
300,000 | 2,040,127 | 5.47 | 11,169,024.91 |
400,000 | 2,055,952 | 7.24 | 14,891,764.88 |
500,000 | 2,068,312 | 9.00 | 18,614,880.85 |
600,000 | 2,078,465 | 10.75 | 22,337,486.38 |
700,000 | 2,087,087 | 12.49 | 26,059,542.54 |
800,000 | 2,094,586 | 14.22 | 29,781,838.03 |
900,000 | 2,101,226 | 15.95 | 33,506,196.46 |
1,000,000 | 2,107,181 | 17.67 | 37,229,252.30 |
1,250,000 | 2,119,849 | 21.95 | 46,536,357.59 |
1,500,000 | 2,130,254 | 26.21 | 55,842,401.40 |
1,750,000 | 2,139,094 | 30.46 | 65,150,516.21 |
2,000,000 | 2,146,779 | 34.68 | 74,455,278.23 |
2,500,000 | 2,159,685 | 43.09 | 93,070,161.65 |
3,000,000 | 2,170,286 | 51.46 | 111,681,466.81 |
3,500,000 | 2,179,292 | 59.79 | 130,297,551.05 |
4,000,000 | 2,187,122 | 68.08 | 148,907,968.27 |
5,000,000 | 2,200,270 | 84.60 | 186,133,512.23 |
7,500,000 | 2,224,365 | 125.52 | 279,204,103.68 |
10,000,000 | 2,241,621 | 166.08 | 372,281,447.92 |
15,000,000 | 2,266,167 | 246.41 | 558,405,484.19 |
20,000,000 | 2,283,747 | 326.02 | 744,554,146.41 |
50,000,000 | 2,340,653 | 795.24 | 1,861,388,770.29 |
100,000,000 | 2,384,639 | 1,561.12 | 3,722,715,829.92 |
Module 3: Tao Voting
Strategy:
I like hatch params so no big changes on our god mode
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days | 11 days |
Time to Review a Delegates Vote | 3 days | 5 days | 7 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
This params will make proposals somehow hard to pass but with some support from the community should be ok, and that's why the future value of the token will be lead for the value we provide with the common pool funds. Lower spending limit from original proposal.
Parameter | Value |
---|---|
Conviction Growth | 20 day(s) |
Minimum Conviction | 3.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 55555 |
2 | 5,000 | 100,000 | 1,500,000 | 179999 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 46224 |
5 | 5,000 | 750,000 | 1,500,000 | 51658 |
6 | 25,000 | 750,000 | 1,500,000 | 101249 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 52 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 52 weeks. They can still be used to vote while frozen.
- Token Thaw: 104 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 104 weeks later.
- Opening Price: 1.2 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.2 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 95.00%, which means that 95.00% of the Hatch funds (1198162.39 wxDAI) will go to the Common Pool and 5.00% (63061.18 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 1.00% meaning that from every BUY order on the ABC, 1.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% 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: 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: 1 day(s), this means that 1 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 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: 20 day(s), meaning that voting power will increase by 50% every 20 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: 3.0%, this means that to pass any funding request it will take at least 3.0% 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.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 250 wxDAI |
Challenge Deposit | 500 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Ostrom’s $1,000,000 Hatch, Fledge & Fly!
What is the overall Commons Configuration strategy?
Did you know that from hatching to leaving the nest a bird can increase its weight by as much as 10 times?
Influenced and inspired by:
#113 - "The Fledge"
#74 - $1 Gambit for $1,000,000 Goldilocks Orogeny
#109 - The Bolshevik's Gambit fork with Revolutionary Opening Price and Iron Curtain Conviction Voting
#124 - Montaña Rusa: The Communist Roller-Coaster
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 39 Weeks |
Token Thaw | 65 Weeks |
Opening Price | 1.5 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 73.00% |
Entry Tribute | 16.00% |
Exit Tribute | 5.00% |
*Reserve Ratio | 11.60% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6 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) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 14 day(s) |
Minimum Conviction | 5.0% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
In large part, our Hatch was based on the premise that Hatchers are commitment the long term, mission driven goals over short term individual gains. So I’m advocating for a longish thaw. One that will give the TEC a floor above the Hatch price for the entire first year. Kudos to The Fledge (#113) for the “hatch, fledge” analogy. Hatch, fledge, fly!
Did you know that from hatching to leaving the nest a bird can increase its weight by as much as 10 times?
With the freeze/thaw at 39/65, Hatchers tokens begin to thaw at 9 months and by the end of the first year, 20% of Hatchers tokens will be unfrozen.
We are not greedy. We envision a world where ethical and resilient economic systems benefit societies. We know it will take us time to make that happen and that having a secure floor for one full yer will provide needed security to take our next bold steps. This gives us a year to build our reputation, strategies and agility in whatever market conditions we face.
Parameter | Value |
---|---|
Token Freeze | 39 Weeks |
Token Thaw | 65 Weeks |
Opening Price | 1.5 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% | 1.50 wxDAI |
6 months | 0.00% | 1.50 wxDAI |
9 months | 0.00% | 1.50 wxDAI |
1 year | 20.00% | 1.20 wxDAI |
1.5 years | 60.00% | 0.60 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:
The psychological impact of 1M in the Commons pool is no small trifle. That’s 1M allocated directly to funding proposals that serve our mission. With a must-have of 1M in the Commons pool, I looked to find the right balance between the Commons Tribute (sourced from existing Hatchers) and Entry/Exit Tribute (to be sourced from future TEC token holders).
Unless we are setting the entry/exit to near-zero we should expect that future TEC token holders are here for the impact to be made and a belief in what we are doing. Any non-zero tribute will be a deterrent to the average speculator.
I see the wisdom of #74 with having the entry/exit adjust over a scheduled amount of time and will propose the same. Entry: 16 - 12 - 8 - 4 and Exit: 5 - 6 - 7 - 8, with and adjustment happening every 6 weeks.
In the words of #74 “With this strategy, we should change the Tributes every month so that they gradually go from 22% and 2% to 2% and 12% in 5 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.”
Here I nod again to #113 and appreciate very much their doubling down on the impact investment angle. In their words: “The 80% initial tribute makes us unabashedly an impact investment. Impact investors care about impact and don't want to pay to fund reserves to lower the volatility. Another effect of the low reserve is high slippage, which makes it expensive and thus unattractive for non-aligned, purely speculative whales to suddenly buy up large shares in ways that might harm the mission and the community. Impact investors will care less about slippage, since that money goes to the TEC, which they are backing for impact. Oh, did I mention it's a million dollar fund. Nice.
Yeah, 30% entry tribute is a big cut. But remember, we're an impact investment. We pitch that the 30% is an investment that they make in public goods and we take it off the top while they're still excited. There's no exit tribute. We get the investment up front, not when they're trying to get out and may have reasons for leaving anyway.”
Parameter | Value |
---|---|
Commons Tribute | 73.00% |
Entry Tribute | 16.00% |
Exit Tribute | 5.00% |
*Reserve Ratio | 11.60% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 920693.21 |
Reserve (Before Initial Buy) | 340530.36 |
Common Pool (After Initial Buy) | 960693.21 |
Reserve (After Initial Buy) | 550530.36 |
TEC Price vs ABC Reserve Holdings
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 | 340530.36 | 1956421.69 | 1.5 | 250000.00 wxDAI | 40000.0 | 112152.26 TEC | 2.29 | 19.89% |
1 | 550530.36 | 2068573.95 | 2.29 | 5000.00 wxDAI | 800.0 | 1825.08 TEC | 2.31 | 0.34% |
2 | 554730.36 | 2070399.03 | 2.31 | 100000.00 wxDAI | 16000.0 | 34153.38 TEC | 2.62 | 6.12% |
3 | 638730.36 | 2104552.41 | 2.62 | 3000.00 TEC | 1248.65 | 6555.40 wxDAI | 2.59 | 0.54% |
4 | 630926.32 | 2101552.41 | 2.59 | 5000.00 wxDAI | 800.0 | 1618.60 TEC | 2.6 | 0.29% |
5 | 635126.32 | 2103171.0 | 2.6 | 100000.00 wxDAI | 16000.0 | 30533.58 TEC | 2.9 | 5.40% |
6 | 719126.32 | 2133704.59 | 2.9 | 3000.00 TEC | 1386.71 | 7280.22 wxDAI | 2.87 | 0.53% |
7 | 710459.39 | 2130704.59 | 2.87 | 2000.00 TEC | 916.24 | 4810.29 wxDAI | 2.85 | 0.36% |
8 | 704732.86 | 2128704.59 | 2.85 | 5000000.00 wxDAI | 800000.0 | 537468.71 TEC | 15.85 | 63.49% |
9 | 4904732.86 | 2666173.3 | 15.85 | 1000000.00 wxDAI | 160000.0 | 49358.78 TEC | 18.23 | 6.84% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,299,249 | 0.07 | 86,211.00 |
50,000 | 1,565,974 | 0.28 | 430,922.37 |
100,000 | 1,697,124 | 0.51 | 861,813.49 |
200,000 | 1,839,263 | 0.94 | 1,723,598.50 |
300,000 | 1,927,866 | 1.34 | 2,585,375.15 |
400,000 | 1,993,308 | 1.73 | 3,447,154.79 |
500,000 | 2,045,595 | 2.11 | 4,308,933.60 |
600,000 | 2,089,333 | 2.47 | 5,170,718.72 |
700,000 | 2,127,042 | 2.84 | 6,032,502.50 |
800,000 | 2,160,256 | 3.19 | 6,894,289.28 |
900,000 | 2,189,984 | 3.54 | 7,756,066.65 |
1,000,000 | 2,216,923 | 3.89 | 8,617,857.60 |
1,250,000 | 2,275,075 | 4.73 | 10,772,309.72 |
1,500,000 | 2,323,720 | 5.56 | 12,926,758.93 |
1,750,000 | 2,365,659 | 6.38 | 15,081,216.15 |
2,000,000 | 2,402,600 | 7.17 | 17,235,657.31 |
2,500,000 | 2,465,624 | 8.74 | 21,544,593.09 |
3,000,000 | 2,518,343 | 10.27 | 25,853,511.43 |
3,500,000 | 2,563,794 | 11.76 | 30,162,377.00 |
4,000,000 | 2,603,830 | 13.24 | 34,471,328.44 |
5,000,000 | 2,672,131 | 16.13 | 43,089,078.82 |
7,500,000 | 2,800,858 | 23.08 | 64,633,592.56 |
10,000,000 | 2,895,935 | 29.76 | 86,178,217.89 |
15,000,000 | 3,035,444 | 42.59 | 129,267,195.00 |
20,000,000 | 3,138,484 | 54.92 | 172,356,607.22 |
50,000,000 | 3,490,570 | 123.44 | 430,891,118.96 |
100,000,000 | 3,782,922 | 227.81 | 861,782,776.29 |
Module 3: Tao Voting
Strategy:
The defaults are well thought through and I’ll stick with them. For color, will add the phrasing of the #109 to chew on: “ Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made!"
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6 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 | 6 days | 9 days | 12 days |
Time to Review a Delegates Vote | 3 days | 6 days | 9 days |
Time to Execute a Passing Proposal | 7 days | 10 days | 13 days |
Module 4: Conviction Voting
Strategy:
There is a conversation about the TE Academy proposal that shapes my thinking here. Knowing their longer financial runway facilitates funding roles to execute their vision. So, for example, requesting a grant for 6 months out versus month-by-month would be the difference between only being able to assure someone’s role month-to-month versus offering a longer term assurance of compensation to a new hire. This is big for our bootstrapping projects!
Low spending limits act as a sort of check-and-balance on projects as they will need to prove continuous delivery by requesting small amounts periodically. There is a real advantage to that but I feel that makes it administratively difficult for larger, more ambitious projects like the TE Academy to depend on funding from us. And for the voters, it will exhaust our attention to have a constant stream of smaller proposals.
High spending limits here might pose a risk but as #124 points out, we have Celeste. We should be able to rely on Celeste to arbitrate anyone acting in bad faith. In the end, I believe it will better serve our goal of advancing Token Engineering than a low spending limit.
Finally, that any proposal will require > 24 hours to pass is a courtesy to the entire community.
Parameter | Value |
---|---|
Conviction Growth | 14 day(s) |
Minimum Conviction | 5.0% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 83102 |
2 | 5,000 | 100,000 | 1,500,000 | 133333 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 76010 |
5 | 5,000 | 750,000 | 1,500,000 | 80261 |
6 | 25,000 | 750,000 | 1,500,000 | 108000 |
7 | 150,000 | 865,213 | 1,500,000 | Not possible |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 39 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 39 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: 1.5 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.5 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 73.00%, which means that 73.00% of the Hatch funds (920693.21 wxDAI) will go to the Common Pool and 27.00% (340530.36 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 16.00% meaning that from every BUY order on the ABC, 16.00% 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: 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: 6 day(s), meaning that eligible voters will have 6 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: 14 day(s), meaning that voting power will increase by 50% every 14 days that they are staked behind a proposal, so after 12 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: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
TEC Casino (our money is safe on the common pool) Fork with 1 year of total vesting
What is the overall Commons Configuration strategy?
Have the money on the Common Pool and have fun gambling and funding TE public goods
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 1.2 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 95.00% |
Entry Tribute | 2.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 2.69% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 20 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 12.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Fork of TEC Casino with half year of freeze and half year of thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 1.2 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% | 1.20 wxDAI |
6 months | 0.00% | 1.20 wxDAI |
9 months | 50.00% | 0.60 wxDAI |
1 year | 100.00% | 0.00 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:
The value of the token will be high as long as we have funds in the common pool so 95% of the funds are going to be governed by the token holders and the boding curve will be a casino where people can make a lot of money and fund TE public goods
Parameter | Value |
---|---|
Commons Tribute | 95.00% |
Entry Tribute | 2.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 2.69% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 1198162.39 |
Reserve (Before Initial Buy) | 63061.18 |
Common Pool (After Initial Buy) | 1203162.39 |
Reserve (After Initial Buy) | 308061.18 |
TEC Price vs ABC Reserve Holdings
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 | 63061.18 | 1956421.69 | 1.2 | 250000.00 wxDAI | 5000.0 | 85157.24 TEC | 5.62 | 58.29% |
1 | 308061.18 | 2041578.93 | 5.62 | 5000.00 wxDAI | 100.0 | 865.57 TEC | 5.7 | 0.77% |
2 | 312961.18 | 2042444.5 | 5.7 | 100000.00 wxDAI | 2000.0 | 15000.20 TEC | 7.44 | 12.68% |
3 | 410961.18 | 2057444.7 | 7.44 | 3000.00 TEC | 434.59 | 21294.90 wxDAI | 7.05 | 2.60% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,862,093 | 0.20 | 372,963.91 |
50,000 | 1,944,280 | 0.96 | 1,862,050.76 |
100,000 | 1,980,811 | 1.88 | 3,723,572.80 |
200,000 | 2,018,031 | 3.69 | 7,446,386.76 |
300,000 | 2,040,127 | 5.47 | 11,169,024.91 |
400,000 | 2,055,952 | 7.24 | 14,891,764.88 |
500,000 | 2,068,312 | 9.00 | 18,614,880.85 |
600,000 | 2,078,465 | 10.75 | 22,337,486.38 |
700,000 | 2,087,087 | 12.49 | 26,059,542.54 |
800,000 | 2,094,586 | 14.22 | 29,781,838.03 |
900,000 | 2,101,226 | 15.95 | 33,506,196.46 |
1,000,000 | 2,107,181 | 17.67 | 37,229,252.30 |
1,250,000 | 2,119,849 | 21.95 | 46,536,357.59 |
1,500,000 | 2,130,254 | 26.21 | 55,842,401.40 |
1,750,000 | 2,139,094 | 30.46 | 65,150,516.21 |
2,000,000 | 2,146,779 | 34.68 | 74,455,278.23 |
2,500,000 | 2,159,685 | 43.09 | 93,070,161.65 |
3,000,000 | 2,170,286 | 51.46 | 111,681,466.81 |
3,500,000 | 2,179,292 | 59.79 | 130,297,551.05 |
4,000,000 | 2,187,122 | 68.08 | 148,907,968.27 |
5,000,000 | 2,200,270 | 84.60 | 186,133,512.23 |
7,500,000 | 2,224,365 | 125.52 | 279,204,103.68 |
10,000,000 | 2,241,621 | 166.08 | 372,281,447.92 |
15,000,000 | 2,266,167 | 246.41 | 558,405,484.19 |
20,000,000 | 2,283,747 | 326.02 | 744,554,146.41 |
50,000,000 | 2,340,653 | 795.24 | 1,861,388,770.29 |
100,000,000 | 2,384,639 | 1,561.12 | 3,722,715,829.92 |
Module 3: Tao Voting
Strategy:
I like hatch params so no big changes on our god mode
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days | 11 days |
Time to Review a Delegates Vote | 3 days | 5 days | 7 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
This params will make proposals somehow hard to pass but with some support from the community should be ok, and that's why the future value of the token will be lead for the value we provide with the common pool funds. lower spending limit from the original proposal
Parameter | Value |
---|---|
Conviction Growth | 20 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 12.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 53553 |
2 | 5,000 | 100,000 | 1,500,000 | 132244 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 46016 |
5 | 5,000 | 750,000 | 1,500,000 | 50449 |
6 | 25,000 | 750,000 | 1,500,000 | 86272 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 26 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 26 weeks later.
- Opening Price: 1.2 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.2 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 95.00%, which means that 95.00% of the Hatch funds (1198162.39 wxDAI) will go to the Common Pool and 5.00% (63061.18 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: 2.00% meaning that from every SELL order on the ABC, 2.00% 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: 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: 1 day(s), this means that 1 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 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: 20 day(s), meaning that voting power will increase by 50% every 20 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: 3.0%, this means that to pass any funding request it will take at least 3.0% of the actively voting TEC tokens.
- The Spending Limit: 12.0%, which means that no more than 12.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 250 wxDAI |
Challenge Deposit | 500 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Reserve Ratio doesn't matter. The Common Pool does.
What is the overall Commons Configuration strategy?
Bringing Volatility and Funding to the Token Engineering Commons economy!
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 15 Weeks |
Token Thaw | 30 Weeks |
Opening Price | 2.45 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 71.00% |
Entry Tribute | 7.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 7.63% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 11% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 52 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 12.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Moderate Freeze/Thaw w/ decent starting price.
Parameter | Value |
---|---|
Token Freeze | 15 Weeks |
Token Thaw | 30 Weeks |
Opening Price | 2.45 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% | 2.45 wxDAI |
6 months | 36.67% | 1.55 wxDAI |
9 months | 80.00% | 0.49 wxDAI |
1 year | 100.00% | 0.00 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:
Parameter | Value |
---|---|
Commons Tribute | 71.00% |
Entry Tribute | 7.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 7.63% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 895468.73 |
Reserve (Before Initial Buy) | 365754.84 |
Common Pool (After Initial Buy) | 912968.73 |
Reserve (After Initial Buy) | 598254.84 |
TEC Price vs ABC Reserve Holdings
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 | 365754.84 | 1956421.69 | 2.45 | 250000.00 wxDAI | 17500.0 | 74854.01 TEC | 3.86 | 21.12% |
1 | 598254.84 | 2031275.7 | 3.86 | 5000.00 wxDAI | 350.0 | 1200.45 TEC | 3.89 | 0.36% |
2 | 602904.84 | 2032476.14 | 3.89 | 100000.00 wxDAI | 7000.0 | 22370.59 TEC | 4.44 | 6.49% |
3 | 695904.84 | 2054846.73 | 4.44 | 3000.00 TEC | 923.83 | 12273.81 wxDAI | 4.36 | 0.88% |
4 | 682707.19 | 2051846.73 | 4.36 | 5000.00 wxDAI | 350.0 | 1063.07 TEC | 4.39 | 0.31% |
5 | 687357.19 | 2052909.81 | 4.39 | 100000.00 wxDAI | 7000.0 | 19975.12 TEC | 4.93 | 5.76% |
6 | 780357.19 | 2072884.93 | 4.93 | 3000.00 TEC | 1027.01 | 13644.59 wxDAI | 4.85 | 0.87% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,486,622 | 0.09 | 131,128.62 |
50,000 | 1,680,818 | 0.39 | 655,329.53 |
100,000 | 1,772,105 | 0.74 | 1,310,583.31 |
200,000 | 1,868,353 | 1.40 | 2,621,081.30 |
300,000 | 1,927,061 | 2.04 | 3,931,573.64 |
400,000 | 1,969,830 | 2.66 | 5,242,071.47 |
500,000 | 2,003,658 | 3.27 | 6,552,586.89 |
600,000 | 2,031,728 | 3.87 | 7,863,080.74 |
700,000 | 2,055,767 | 4.46 | 9,173,532.14 |
800,000 | 2,076,821 | 5.05 | 10,484,046.81 |
900,000 | 2,095,572 | 5.63 | 11,794,608.19 |
1,000,000 | 2,112,487 | 6.20 | 13,105,090.79 |
1,250,000 | 2,148,764 | 7.62 | 16,381,293.41 |
1,500,000 | 2,178,868 | 9.02 | 19,657,596.49 |
1,750,000 | 2,204,648 | 10.40 | 22,933,864.19 |
2,000,000 | 2,227,226 | 11.77 | 26,209,998.26 |
2,500,000 | 2,265,475 | 14.46 | 32,762,574.82 |
3,000,000 | 2,297,214 | 17.11 | 39,315,204.80 |
3,500,000 | 2,324,394 | 19.73 | 45,867,660.72 |
4,000,000 | 2,348,200 | 22.32 | 52,420,208.95 |
5,000,000 | 2,388,524 | 27.43 | 65,524,900.45 |
7,500,000 | 2,463,580 | 39.90 | 98,287,712.18 |
10,000,000 | 2,518,258 | 52.04 | 131,049,770.03 |
15,000,000 | 2,597,391 | 75.68 | 196,575,465.43 |
20,000,000 | 2,655,039 | 98.72 | 262,100,499.15 |
50,000,000 | 2,847,319 | 230.13 | 655,248,880.67 |
100,000,000 | 3,001,973 | 436.55 | 1,310,500,092.78 |
Module 3: Tao Voting
Strategy:
Brainstormin that TAO.
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 11% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days | 11 days |
Time to Review a Delegates Vote | 4 days | 6 days | 8 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
Orogeny Light
Parameter | Value |
---|---|
Conviction Growth | 52 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 12.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 17851 |
2 | 5,000 | 100,000 | 1,500,000 | 44081 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 15338 |
5 | 5,000 | 750,000 | 1,500,000 | 16816 |
6 | 25,000 | 750,000 | 1,500,000 | 28757 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 15 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 15 weeks. They can still be used to vote while frozen.
- Token Thaw: 30 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 30 weeks later.
- Opening Price: 2.45 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 2.45 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 71.00%, which means that 71.00% of the Hatch funds (895468.73 wxDAI) will go to the Common Pool and 29.00% (365754.84 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 7.00% meaning that from every BUY order on the ABC, 7.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 85%, which means 85% of all votes must be in favor of a proposal for it to pass.
- Minimum Quorum: 11%, meaning that 11% 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 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: 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 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: 52 day(s), meaning that voting power will increase by 50% every 52 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: 12.0%, which means that no more than 12.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
1 Million Dollar Entry into Orogeny with Better CV and shorter vesting
What is the overall Commons Configuration strategy?
This is an exaggerated version of the Entry into Orogeny proposal (shout out to Nate!) and is somewhat inspired by Zep's DAO Casino and Tam's push for a high Common Pool.
The real things to note about this proposal is the >1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, and the low Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 26% and 0% to 2% and 12% in 6 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a 40 Mil Market Cap so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 20 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.4 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 11.51% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 70 day(s) |
Minimum Conviction | 0.9000000000000001% |
Spending Limit | 15.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
This was tooo damn long of vestin... so i made it shorter!
Considering the decent profit off the bat (40% / 111%) and the low reserve ratio which 2.75 years for the tokens to unlock seems fine. 9 months to get the economy going, 2 years after that to slowly vest... if someone had 10,000 tokens from the Hatch they would get about ~14 tokens a day.
Parameter | Value |
---|---|
Token Freeze | 20 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.4 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% | 1.40 wxDAI |
6 months | 11.54% | 1.24 wxDAI |
9 months | 36.54% | 0.89 wxDAI |
1 year | 61.54% | 0.54 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:
The Commons Tribute and Entry Tribute are set so that there is about ~1 mil in the Common Pool after the initial buy.
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (26%) 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 if this proposal is chosen we should plan to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 6 months.
This proposal has a low Reserve Ratio so that we can have high profitability for it to make sense to speculate despite the high entry tribute.
If we lower it 4% a month... we only have to sell ~40k worth of tokens every month for it to make sense to speculate on the token. I think this is very doable.
The Reserve Ratio is low but it's not a DAO Casino and with a long lockup we have a long time to grow beyond the Hatch.
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 11.51% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 1010917.68 |
Reserve (After Initial Buy) | 500305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.4 | 250000.00 wxDAI | 65000.0 | 106790.74 TEC | 2.11 | 19.19% |
1 | 500305.89 | 2063212.43 | 2.11 | 5000.00 wxDAI | 1300.0 | 1750.79 TEC | 2.12 | 0.33% |
2 | 504005.89 | 2064963.22 | 2.12 | 100000.00 wxDAI | 26000.0 | 32823.98 TEC | 2.39 | 5.95% |
3 | 578005.89 | 2097787.2 | 2.39 | 3000.00 TEC | 1856.68 | 5284.41 wxDAI | 2.37 | 0.55% |
4 | 570864.8 | 2094787.2 | 2.37 | 35000.00 wxDAI | 9100.0 | 10727.22 TEC | 2.46 | 1.95% |
5 | 596764.8 | 2105514.41 | 2.46 | 38000.00 wxDAI | 9880.0 | 11189.91 TEC | 2.56 | 2.03% |
6 | 624884.8 | 2116704.33 | 2.56 | 41000.00 wxDAI | 10660.0 | 11584.23 TEC | 2.67 | 2.08% |
7 | 655224.8 | 2128288.56 | 2.67 | 43000.00 wxDAI | 11180.0 | 11650.10 TEC | 2.79 | 2.09% |
8 | 687044.8 | 2139938.66 | 2.79 | 750000.00 wxDAI | 195000.0 | 150950.41 TEC | 4.71 | 24.15% |
9 | 1242044.8 | 2290889.07 | 4.71 | 1000000.00 wxDAI | 260000.0 | 126631.54 TEC | 7.12 | 19.41% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,315,077 | 0.07 | 86,900.81 |
50,000 | 1,582,704 | 0.27 | 434,371.69 |
100,000 | 1,714,160 | 0.51 | 868,707.89 |
200,000 | 1,856,540 | 0.94 | 1,737,386.62 |
300,000 | 1,945,250 | 1.34 | 2,606,064.92 |
400,000 | 2,010,748 | 1.73 | 3,474,737.22 |
500,000 | 2,063,069 | 2.11 | 4,343,415.90 |
600,000 | 2,106,826 | 2.47 | 5,212,084.93 |
700,000 | 2,144,547 | 2.84 | 6,080,770.61 |
800,000 | 2,177,766 | 3.19 | 6,949,437.54 |
900,000 | 2,207,496 | 3.54 | 7,818,120.22 |
1,000,000 | 2,234,433 | 3.89 | 8,686,783.20 |
1,250,000 | 2,292,574 | 4.74 | 10,858,475.03 |
1,500,000 | 2,341,200 | 5.57 | 13,030,172.69 |
1,750,000 | 2,383,116 | 6.38 | 15,201,872.94 |
2,000,000 | 2,420,032 | 7.18 | 17,373,576.11 |
2,500,000 | 2,483,002 | 8.75 | 21,716,904.95 |
3,000,000 | 2,535,667 | 10.28 | 26,060,301.70 |
3,500,000 | 2,581,065 | 11.78 | 30,403,650.88 |
4,000,000 | 2,621,048 | 13.26 | 34,747,104.21 |
5,000,000 | 2,689,248 | 16.15 | 43,433,861.15 |
7,500,000 | 2,817,748 | 23.12 | 65,150,810.68 |
10,000,000 | 2,912,626 | 29.82 | 86,867,551.73 |
15,000,000 | 3,051,799 | 42.70 | 130,301,503.62 |
20,000,000 | 3,154,559 | 55.07 | 173,735,385.74 |
50,000,000 | 3,505,488 | 123.90 | 434,338,431.11 |
100,000,000 | 3,796,665 | 228.80 | 868,676,110.23 |
Module 3: Tao Voting
Strategy:
The Tao Voting parameters provide a voting system that requires a high amount of support (80%), and a moderate quorum (10%) of participation.... this is almost the same as our HatchDAO but higher quorum because we have delegation and lower support required because we are now an open community, not just the Trusted Seed.
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.
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 15% ensuring that we can fund 50k-80k proposals if we need to given our large Common Pool. The rest of the settings were inspired by Nate's Orogeny params with a low Minimum Conviction (.6%) and high Conviction Growth (100 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.
I think these parameters could be explored more.
Parameter | Value |
---|---|
Conviction Growth | 70 day(s) |
Minimum Conviction | 0.9000000000000001% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 15497 |
2 | 5,000 | 100,000 | 1,500,000 | 30375 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 13743 |
5 | 5,000 | 750,000 | 1,500,000 | 14785 |
6 | 25,000 | 750,000 | 1,500,000 | 22316 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 20 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 20 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: 1.4 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.4 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 26.00% meaning that from every BUY order on the ABC, 26.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.00% meaning that from every SELL order on the ABC, 0.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 80%, which means 80% 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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 70 day(s), meaning that voting power will increase by 50% every 70 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: 0.9000000000000001%, this means that to pass any funding request it will take at least 0.9000000000000001% 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.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 2.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Mafer's rookie proposal :D
What is the overall Commons Configuration strategy?
I wanted to see what I thought it is an quick running proposal
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 6 Weeks |
Token Thaw | 4 Weeks |
Opening Price | 2.5 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 25.00% |
Entry Tribute | 15.00% |
Exit Tribute | 20.00% |
*Reserve Ratio | 19.34% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 75% |
Minimum Quorum | 45% |
Vote Duration | 15 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 5 day(s) |
Quiet Ending Extension | 5 day(s) |
Execution Delay | 10 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 45 day(s) |
Minimum Conviction | 2.0% |
Spending Limit | 8.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Wanted to see the behavior with a low price.
Parameter | Value |
---|---|
Token Freeze | 6 Weeks |
Token Thaw | 4 Weeks |
Opening Price | 2.5 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 | 100.00% | 0.00 wxDAI |
6 months | 100.00% | 0.00 wxDAI |
9 months | 100.00% | 0.00 wxDAI |
1 year | 100.00% | 0.00 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:
Parameter | Value |
---|---|
Commons Tribute | 25.00% |
Entry Tribute | 15.00% |
Exit Tribute | 20.00% |
*Reserve Ratio | 19.34% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 315305.89 |
Reserve (Before Initial Buy) | 945917.68 |
Common Pool (After Initial Buy) | 352805.89 |
Reserve (After Initial Buy) | 1158417.68 |
TEC Price vs ABC Reserve Holdings
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 | 945917.68 | 1956421.69 | 2.5 | 250000.00 wxDAI | 37500.0 | 78200.32 TEC | 2.94 | 8.00% |
1 | 1158417.68 | 2034622.0 | 2.94 | 5000.00 wxDAI | 750.0 | 1441.51 TEC | 2.95 | 0.15% |
2 | 1162667.68 | 2036063.51 | 2.95 | 100000.00 wxDAI | 15000.0 | 27974.37 TEC | 3.13 | 2.82% |
3 | 1247667.68 | 2064037.88 | 3.13 | 3000.00 TEC | 1402.25 | 7946.10 wxDAI | 3.11 | 0.30% |
4 | 1238319.32 | 2061037.88 | 3.11 | 400.00 TEC | 186.33 | 1055.84 wxDAI | 3.1 | 0.04% |
5 | 1237077.15 | 2060637.88 | 3.1 | 1000.00 TEC | 465.15 | 2635.87 wxDAI | 3.1 | 0.10% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 811,624 | 0.06 | 51,717.66 |
50,000 | 1,107,949 | 0.23 | 258,545.39 |
100,000 | 1,266,883 | 0.41 | 517,079.82 |
200,000 | 1,448,619 | 0.71 | 1,034,148.83 |
300,000 | 1,566,785 | 0.99 | 1,551,219.47 |
400,000 | 1,656,426 | 1.25 | 2,068,287.89 |
500,000 | 1,729,475 | 1.49 | 2,585,359.55 |
600,000 | 1,791,545 | 1.73 | 3,102,427.66 |
700,000 | 1,845,759 | 1.96 | 3,619,498.46 |
800,000 | 1,894,045 | 2.18 | 4,136,564.03 |
900,000 | 1,937,685 | 2.40 | 4,653,633.70 |
1,000,000 | 1,977,573 | 2.61 | 5,170,705.44 |
1,250,000 | 2,064,784 | 3.13 | 6,463,379.11 |
1,500,000 | 2,138,888 | 3.63 | 7,756,056.77 |
1,750,000 | 2,203,613 | 4.11 | 9,048,728.88 |
2,000,000 | 2,261,262 | 4.57 | 10,341,399.83 |
2,500,000 | 2,360,984 | 5.48 | 12,926,754.56 |
3,000,000 | 2,445,718 | 6.34 | 15,512,088.87 |
3,500,000 | 2,519,729 | 7.18 | 18,097,444.29 |
4,000,000 | 2,585,647 | 8.00 | 20,682,784.65 |
5,000,000 | 2,699,675 | 9.58 | 25,853,491.08 |
7,500,000 | 2,919,894 | 13.28 | 38,780,241.79 |
10,000,000 | 3,086,952 | 16.75 | 51,706,980.43 |
15,000,000 | 3,338,762 | 23.23 | 77,560,420.22 |
20,000,000 | 3,529,785 | 29.30 | 103,413,937.69 |
50,000,000 | 4,214,139 | 61.35 | 258,534,761.00 |
100,000,000 | 4,818,672 | 107.31 | 517,069,710.39 |
Module 3: Tao Voting
Strategy:
Debates need to happen so the totals can be met.
Parameter | Value |
---|---|
Support Required | 75% |
Minimum Quorum | 45% |
Vote Duration | 15 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 5 day(s) |
Quiet Ending Extension | 5 day(s) |
Execution Delay | 10 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 | 15 days | 20 days | 25 days |
Time to Review a Delegates Vote | 10 days | 15 days | 20 days |
Time to Execute a Passing Proposal | 25 days | 30 days | 35 days |
Module 4: Conviction Voting
Strategy:
Parameter | Value |
---|---|
Conviction Growth | 45 day(s) |
Minimum Conviction | 2.0% |
Spending Limit | 8.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 39183 |
2 | 5,000 | 100,000 | 1,500,000 | 213333 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 31025 |
5 | 5,000 | 750,000 | 1,500,000 | 35702 |
6 | 25,000 | 750,000 | 1,500,000 | 88163 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 6 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 6 weeks. They can still be used to vote while frozen.
- Token Thaw: 4 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 4 weeks later.
- Opening Price: 2.5 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 2.5 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 25.00%, which means that 25.00% of the Hatch funds (315305.89 wxDAI) will go to the Common Pool and 75.00% (945917.68 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: 20.00% meaning that from every SELL order on the ABC, 20.00% 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: 45%, meaning that 45% of all tokens need to have voted on a proposal in order for it to become valid.
- Vote Duration: 15 day(s), meaning that eligible voters will have 15 day(s) to vote on a proposal.
- Delegated Voting Period is set for 5 day(s), meaning that Delegates will have 5 day(s) to use their delegated voting power to vote on a proposal.
- Quiet Ending Period: 5 day(s), this means that 5 day(s) before the end of the Vote Duration, if the vote outcome changes, the Quiet Ending Extension will be triggered.
- Quiet Ending Extension: 5 day(s), meaning that if the vote outcome changes during the Quiet Ending Period, an additional 5 day(s) will be added for voting.
- Execution Delay: 10 day(s), meaning that there is an 10 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- 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 30 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 2.0%, this means that to pass any funding request it will take at least 2.0% of the actively voting TEC tokens.
- The Spending Limit: 8.0%, which means that no more than 8.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Uzi - Random Fire
What is the overall Commons Configuration strategy?
First Attempt
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 10 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 20.00% |
Entry Tribute | 3.00% |
Exit Tribute | 25.00% |
*Reserve Ratio | 51.57% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 60% |
Minimum Quorum | 15% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 5 day(s) |
Minimum Conviction | 0.5% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Testing out various scenarios
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 10 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 0.00% | 1.00 wxDAI |
9 months | 100.00% | 0.00 wxDAI |
1 year | 100.00% | 0.00 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:
random test
Parameter | Value |
---|---|
Commons Tribute | 20.00% |
Entry Tribute | 3.00% |
Exit Tribute | 25.00% |
*Reserve Ratio | 51.57% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 252244.71 |
Reserve (Before Initial Buy) | 1008978.86 |
Common Pool (After Initial Buy) | 259744.71 |
Reserve (After Initial Buy) | 1251478.86 |
TEC Price vs ABC Reserve Holdings
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 | 1008978.86 | 1956421.69 | 1.0 | 250000.00 wxDAI | 7500.0 | 229850.80 TEC | 1.11 | 5.22% |
1 | 1251478.86 | 2186272.49 | 1.11 | 5000.00 wxDAI | 150.0 | 4365.51 TEC | 1.11 | 0.09% |
2 | 1256328.86 | 2190638.0 | 1.11 | 100000.00 wxDAI | 3000.0 | 85657.25 TEC | 1.15 | 1.80% |
3 | 1353328.86 | 2276295.25 | 1.15 | 3000.00 TEC | 103.69 | 3352.58 wxDAI | 1.15 | 0.06% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 181,141 | 0.11 | 19,391.01 |
50,000 | 415,419 | 0.23 | 96,951.46 |
100,000 | 593,929 | 0.33 | 193,902.03 |
200,000 | 849,148 | 0.46 | 387,803.14 |
300,000 | 1,046,642 | 0.56 | 581,704.32 |
400,000 | 1,214,038 | 0.64 | 775,605.54 |
500,000 | 1,362,107 | 0.71 | 969,506.65 |
600,000 | 1,496,398 | 0.78 | 1,163,407.75 |
700,000 | 1,620,218 | 0.84 | 1,357,308.91 |
800,000 | 1,735,727 | 0.89 | 1,551,210.12 |
900,000 | 1,844,430 | 0.95 | 1,745,111.23 |
1,000,000 | 1,947,424 | 1.00 | 1,939,012.29 |
1,250,000 | 2,184,940 | 1.11 | 2,423,765.37 |
1,500,000 | 2,400,355 | 1.21 | 2,908,518.19 |
1,750,000 | 2,598,972 | 1.31 | 3,393,271.05 |
2,000,000 | 2,784,259 | 1.39 | 3,878,023.92 |
2,500,000 | 3,123,839 | 1.55 | 4,847,529.80 |
3,000,000 | 3,431,821 | 1.70 | 5,817,035.46 |
3,500,000 | 3,715,787 | 1.83 | 6,786,541.12 |
4,000,000 | 3,980,694 | 1.95 | 7,756,047.05 |
5,000,000 | 4,466,197 | 2.17 | 9,695,058.47 |
7,500,000 | 5,504,943 | 2.64 | 14,542,587.46 |
10,000,000 | 6,385,385 | 3.04 | 19,390,116.59 |
15,000,000 | 7,870,495 | 3.70 | 29,085,174.02 |
20,000,000 | 9,129,274 | 4.25 | 38,780,232.14 |
50,000,000 | 14,644,163 | 6.62 | 96,950,579.34 |
100,000,000 | 20,936,966 | 9.26 | 193,901,158.84 |
Module 3: Tao Voting
Strategy:
trying various scenarios
Parameter | Value |
---|---|
Support Required | 60% |
Minimum Quorum | 15% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days |
Time to Review a Delegates Vote | 0 days | 2 days | 4 days |
Time to Execute a Passing Proposal | 6 days | 8 days | 10 days |
Module 4: Conviction Voting
Strategy:
just a shot
Parameter | Value |
---|---|
Conviction Growth | 5 day(s) |
Minimum Conviction | 0.5% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 8310 |
2 | 5,000 | 100,000 | 1,500,000 | 13333 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 7601 |
5 | 5,000 | 750,000 | 1,500,000 | 8026 |
6 | 25,000 | 750,000 | 1,500,000 | 10800 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 10 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 10 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: 20.00%, which means that 20.00% of the Hatch funds (252244.71 wxDAI) will go to the Common Pool and 80.00% (1008978.86 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.00% meaning that from every BUY order on the ABC, 3.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 25.00% meaning that from every SELL order on the ABC, 25.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 60%, which means 60% of all votes must be in favor of a proposal for it to pass.
- Minimum Quorum: 15%, meaning that 15% 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 5 day(s), meaning that Delegates will have 5 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: 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 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: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Mathmematics V2
What is the overall Commons Configuration strategy?
UPDATE: We noticed our initial price was non-conforming to the way - this could not be! We changed it to 1.47 (147 = 7 * 21) and rose the commons tribute to 63% (79). This leaves the price after the initial buy at 2.08 wxDai (1316!). The rest stays the same...
ORIGINAL:
The universe is vast and unpredictable. Our Commons is taking the bold first steps into a new world brimming with opportunity, but also riddled with risk.
Luckily, we have been given a powerful compass to guide us through uncertainty.
Good and bad. Ying and yang. Luck and misfortune. The wisdom encoded within the numbers 7 and 13 captures the duality of destiny in a way the puny 8 never could. We have followed their lead while designing our commons, and they have made us witness to the pinnacle of paramater design.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 1.47 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 63.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 16.23% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
This carefully chosen paramters set the best possible stage for the first steps of our DAO:
213 weeks where tokens are frozen to protect against bad luck, then 117 weeks thaw to guarantee smooth sailing. Also, since 2+11 is 13 cosmic balance is preserved throughout.
(For the non-believers, this would "just" amount to a 6 month freeze and a 1.5 year thaw)
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 1.47 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% | 1.47 wxDAI |
6 months | 0.00% | 1.47 wxDAI |
9 months | 16.88% | 1.22 wxDAI |
1 year | 33.77% | 0.97 wxDAI |
1.5 years | 67.53% | 0.48 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:
Anything involving smart contracts should only ever be exposed to good fortune, so here we bet on 777 :
7*7 for commons tribute, and the last 7 as the total tribute paid by somebody who completes the cycle of entering and exiting the TEC.
Parameter | Value |
---|---|
Commons Tribute | 63.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 16.23% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 794570.85 |
Reserve (Before Initial Buy) | 466652.72 |
Common Pool (After Initial Buy) | 803320.85 |
Reserve (After Initial Buy) | 707902.72 |
TEC Price vs ABC Reserve Holdings
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 | 466652.72 | 1956421.69 | 1.47 | 250000.00 wxDAI | 8750.0 | 136863.59 TEC | 2.08 | 16.61% |
1 | 707902.72 | 2093285.27 | 2.08 | 5000.00 wxDAI | 175.0 | 2308.50 TEC | 2.1 | 0.28% |
2 | 712727.72 | 2095593.77 | 2.1 | 100000.00 wxDAI | 3500.0 | 43625.59 TEC | 2.33 | 5.24% |
3 | 809227.72 | 2139219.36 | 2.33 | 3000.00 TEC | 243.9 | 6724.78 wxDAI | 2.31 | 0.36% |
4 | 802259.04 | 2136219.36 | 2.31 | 2000.00 TEC | 161.62 | 4456.18 wxDAI | 2.3 | 0.24% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,048,741 | 0.06 | 61,645.00 |
50,000 | 1,361,661 | 0.23 | 308,161.20 |
100,000 | 1,523,746 | 0.40 | 616,306.17 |
200,000 | 1,705,128 | 0.72 | 1,232,596.46 |
300,000 | 1,821,082 | 1.02 | 1,848,887.10 |
400,000 | 1,908,104 | 1.29 | 2,465,179.17 |
500,000 | 1,978,458 | 1.56 | 3,081,469.21 |
600,000 | 2,037,862 | 1.81 | 3,697,763.38 |
700,000 | 2,089,477 | 2.06 | 4,314,052.82 |
800,000 | 2,135,243 | 2.31 | 4,930,340.87 |
900,000 | 2,176,443 | 2.55 | 5,546,631.72 |
1,000,000 | 2,213,971 | 2.78 | 6,162,919.06 |
1,250,000 | 2,295,602 | 3.36 | 7,703,649.53 |
1,500,000 | 2,364,529 | 3.91 | 9,244,381.59 |
1,750,000 | 2,424,418 | 4.45 | 10,785,104.54 |
2,000,000 | 2,477,521 | 4.98 | 12,325,831.39 |
2,500,000 | 2,568,869 | 6.00 | 15,407,277.55 |
3,000,000 | 2,646,001 | 6.99 | 18,488,740.86 |
3,500,000 | 2,713,019 | 7.95 | 21,570,202.80 |
4,000,000 | 2,772,443 | 8.89 | 24,651,655.78 |
5,000,000 | 2,874,666 | 10.72 | 30,814,554.60 |
7,500,000 | 3,070,154 | 15.06 | 46,221,832.23 |
10,000,000 | 3,216,864 | 19.16 | 61,629,076.00 |
15,000,000 | 3,435,623 | 26.91 | 92,443,702.83 |
20,000,000 | 3,599,799 | 34.24 | 123,258,249.09 |
50,000,000 | 4,176,844 | 73.77 | 308,145,464.46 |
100,000,000 | 4,674,054 | 131.85 | 616,291,224.20 |
Module 3: Tao Voting
Strategy:
Without a doubt, a 7*13 % required support is the perfect metaphor to capture the viscitudes of on-chain governance.
The voting process shall involve 7 days, to adequately ponder weighty decisions.
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 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 | 7 days | 10 days | 13 days |
Time to Review a Delegates Vote | 3 days | 6 days | 9 days |
Time to Execute a Passing Proposal | 8 days | 11 days | 14 days |
Module 4: Conviction Voting
Strategy:
Again, the numbers give us the perfect answer: A spending limit of 7 + 13 % , which will allow to capture opportunity while fending off bankrupcy.
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 66481 |
2 | 5,000 | 100,000 | 1,500,000 | 106666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 60808 |
5 | 5,000 | 750,000 | 1,500,000 | 64209 |
6 | 25,000 | 750,000 | 1,500,000 | 86400 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 77 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 77 weeks later.
- Opening Price: 1.47 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.47 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 63.00%, which means that 63.00% of the Hatch funds (794570.85 wxDAI) will go to the Common Pool and 37.00% (466652.72 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.50% meaning that from every BUY order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 3.50% meaning that from every SELL order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 91%, which means 91% 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: 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: 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 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Universally Supreme Parameters - Fork me or get forked...
What is the overall Commons Configuration strategy?
This is a conservative 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
Parameter | Value |
---|---|
Token Freeze | 37 Weeks |
Token Thaw | 37 Weeks |
Opening Price | 1.37 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 37.00% |
Entry Tribute | 3.70% |
Exit Tribute | 3.70% |
*Reserve Ratio | 29.64% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 73% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 7 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 0.73% |
Spending Limit | 7.000000000000001% |
Module 1: Token Freeze and Token Thaw
Strategy:
Liked the original, but 7's and 3's are magic numbers!
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 | 37 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 | 5.41% | 1.30 wxDAI |
1 year | 40.54% | 0.81 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:
Need to keep tributes low to encourage entry to the community.
You can't go wrong with some magic 7's and 3's in your strategy.
Parameter | Value |
---|---|
Commons Tribute | 37.00% |
Entry Tribute | 3.70% |
Exit Tribute | 3.70% |
*Reserve Ratio | 29.64% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 466652.72 |
Reserve (Before Initial Buy) | 794570.85 |
Common Pool (After Initial Buy) | 475902.72 |
Reserve (After Initial Buy) | 1035320.85 |
TEC Price vs ABC Reserve Holdings
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!
Parameter | Value |
---|---|
Support Required | 73% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 7 day(s) |
Quiet Ending Period | 3 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 | 7 days | 10 days | 13 days |
Time to Review a Delegates Vote | 0 days | 3 days | 6 days |
Time to Execute a Passing Proposal | 8 days | 11 days | 14 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 5 days.
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 0.73% |
Spending Limit | 7.000000000000001% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 14904 |
2 | 5,000 | 100,000 | 1,500,000 | 134137 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 11379 |
5 | 5,000 | 750,000 | 1,500,000 | 13376 |
6 | 25,000 | 750,000 | 1,500,000 | 39908 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 37 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 37 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: 7 day(s), meaning that eligible voters will have 7 day(s) to vote on a proposal.
- Delegated Voting Period is set for 7 day(s), meaning that Delegates will have 7 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 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: 7 day(s), meaning that voting power will increase by 50% every 7 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: 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: 7.000000000000001%, which means that no more than 7.000000000000001% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Universal 7 and 3 Magic Parameters!
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
Parameter | Value |
---|---|
Token Freeze | 73 Weeks |
Token Thaw | 37 Weeks |
Opening Price | 1.37 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 37.00% |
Entry Tribute | 3.70% |
Exit Tribute | 3.70% |
*Reserve Ratio | 29.64% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
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) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 0.73% |
Spending Limit | 7.3% |
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.
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.
Parameter | Value |
---|---|
Commons Tribute | 37.00% |
Entry Tribute | 3.70% |
Exit Tribute | 3.70% |
*Reserve Ratio | 29.64% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 466652.72 |
Reserve (Before Initial Buy) | 794570.85 |
Common Pool (After Initial Buy) | 475902.72 |
Reserve (After Initial Buy) | 1035320.85 |
TEC Price vs ABC Reserve Holdings
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 14702 |
2 | 5,000 | 100,000 | 1,500,000 | 110307 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 11361 |
5 | 5,000 | 750,000 | 1,500,000 | 13261 |
6 | 25,000 | 750,000 | 1,500,000 | 37085 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Ostrom's 1 million dollar baby
What is the overall Commons Configuration strategy?
We tried to make a proposal to have 1 million dollars in the common pool while taking into account Ostroms principles to have a sustainable CPR
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 40 Weeks |
Opening Price | 0.63 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 78.00% |
Entry Tribute | 8.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 22.51% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 9.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
With the initial buy, price goes up to 1.01 - And between the freeze and thaw you can make two babies!
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 40 Weeks |
Opening Price | 0.63 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% | 0.63 wxDAI |
6 months | 0.00% | 0.63 wxDAI |
9 months | 0.00% | 0.63 wxDAI |
1 year | 30.00% | 0.44 wxDAI |
1.5 years | 95.00% | 0.03 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:
With commons tribute + initial buy tribute, the common pool goes to 1 million, with reserve ratio of 22.5% - We propose to gradually modify the entry and exit tributes, so that in 6 months they gradually go from 8-2, to 2-8.
Parameter | Value |
---|---|
Commons Tribute | 78.00% |
Entry Tribute | 8.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 22.51% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 983754.38 |
Reserve (Before Initial Buy) | 277469.19 |
Common Pool (After Initial Buy) | 1003754.38 |
Reserve (After Initial Buy) | 507469.19 |
TEC Price vs ABC Reserve Holdings
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 | 277469.19 | 1956421.69 | 0.63 | 250000.00 wxDAI | 20000.0 | 284813.70 TEC | 1.01 | 21.99% |
1 | 507469.19 | 2241235.38 | 1.01 | 5000.00 wxDAI | 400.0 | 4557.51 TEC | 1.01 | 0.35% |
2 | 512069.19 | 2245792.89 | 1.01 | 100000.00 wxDAI | 8000.0 | 85107.88 TEC | 1.15 | 6.30% |
3 | 604069.19 | 2330900.77 | 1.15 | 3000.00 TEC | 275.68 | 3170.28 wxDAI | 1.15 | 0.22% |
4 | 600623.22 | 2327900.77 | 1.15 | 2000.00 TEC | 183.11 | 2105.72 wxDAI | 1.14 | 0.15% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 925,943 | 0.05 | 44,428.57 |
50,000 | 1,330,216 | 0.17 | 222,112.54 |
100,000 | 1,554,849 | 0.29 | 444,217.24 |
200,000 | 1,817,418 | 0.49 | 888,426.73 |
300,000 | 1,991,113 | 0.67 | 1,332,636.66 |
400,000 | 2,124,330 | 0.84 | 1,776,847.08 |
500,000 | 2,233,768 | 0.99 | 2,221,055.71 |
600,000 | 2,327,358 | 1.15 | 2,665,267.19 |
700,000 | 2,409,540 | 1.29 | 3,109,476.81 |
800,000 | 2,483,071 | 1.43 | 3,553,685.90 |
900,000 | 2,549,791 | 1.57 | 3,997,894.73 |
1,000,000 | 2,610,991 | 1.70 | 4,442,104.96 |
1,250,000 | 2,745,501 | 2.02 | 5,552,628.31 |
1,500,000 | 2,860,532 | 2.33 | 6,663,155.76 |
1,750,000 | 2,961,541 | 2.62 | 7,773,677.17 |
2,000,000 | 3,051,918 | 2.91 | 8,884,202.27 |
2,500,000 | 3,209,143 | 3.46 | 11,105,250.71 |
3,000,000 | 3,343,600 | 3.99 | 13,326,302.87 |
3,500,000 | 3,461,667 | 4.49 | 15,547,352.42 |
4,000,000 | 3,567,306 | 4.98 | 17,768,402.78 |
5,000,000 | 3,751,082 | 5.92 | 22,210,503.83 |
7,500,000 | 4,109,585 | 8.11 | 33,315,739.05 |
10,000,000 | 4,384,540 | 10.13 | 44,420,985.99 |
15,000,000 | 4,803,585 | 13.87 | 66,631,487.61 |
20,000,000 | 5,124,973 | 17.34 | 88,841,970.60 |
50,000,000 | 6,299,054 | 35.26 | 222,104,911.26 |
100,000,000 | 7,362,797 | 60.33 | 444,209,856.70 |
Module 3: Tao Voting
Strategy:
Mostly defaults from the hatch DAO, we only changed 1 day of delegated voting period.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days | 11 days |
Time to Review a Delegates Vote | 3 days | 5 days | 7 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
We expect to have proposals for 20-50k that work like milestones to have accountability towards proposers. This makes it relatively easy to pass with 3% minimum conviction in different time lapses.
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 9.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 56953 |
2 | 5,000 | 100,000 | 1,500,000 | 227812 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 46363 |
5 | 5,000 | 750,000 | 1,500,000 | 52487 |
6 | 25,000 | 750,000 | 1,500,000 | 113512 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 40 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 40 weeks. They can still be used to vote while frozen.
- Token Thaw: 40 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 40 weeks later.
- Opening Price: 0.63 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 0.63 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 78.00%, which means that 78.00% of the Hatch funds (983754.38 wxDAI) will go to the Common Pool and 22.00% (277469.19 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 8.00% meaning that from every BUY order on the ABC, 8.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% 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: 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: 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: 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 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 3.0%, this means that to pass any funding request it will take at least 3.0% of the actively voting TEC tokens.
- The Spending Limit: 9.0%, which means that no more than 9.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Goldilocks' Million Dollar Entry into Orogeny
What is the overall Commons Configuration strategy?
This is a version of the Entry into Orogeny proposal (shout out to Nate!) and is somewhat inspired by Zep's DAO Casino and Tam's push for a high Common Pool, another iteration of the 1 mil Entry into Orogony
This Proposal expects a strong community that can coordinate to pass both Tao Voting and Conviction Voting Proposals. The real things to note about this proposal is the >1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, and the low Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 26% and 0% to 2% and 12% in 6 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a 40 Mil Market Cap so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
The CV Params are set so that it takes a week to pass any serious proposal with 15-20% of token holders sitting with their tokens behind the proposal. This will make the Token holders have to coordinate (without having to talk) to pass proposals.... I can imagine that we will want to post the Passing and Leading proposals that have a lot of voting power behind them every week to aid voters in coordinating around advancing token engineering.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.35 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 74.13% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 12.35% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 60 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 12.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Considering the decent profit off the bat (35% / 100%) and the low reserve ratio which 2.75 years for the tokens to unlock seems fine. 9 months to get the economy going, 2 years after that to slowly vest... if someone had 10,000 tokens from the Hatch they would get about ~14 tokens a day.
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.35 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% | 1.35 wxDAI |
6 months | 0.00% | 1.35 wxDAI |
9 months | 0.00% | 1.35 wxDAI |
1 year | 11.54% | 1.19 wxDAI |
1.5 years | 36.54% | 0.86 wxDAI |
2 years | 61.54% | 0.52 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:
The Commons Tribute and Entry Tribute are set so that there is about ~1 mil in the Common Pool after the initial buy.
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (26%) 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 if this proposal is chosen we should plan to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 6 months.
This proposal has a low Reserve Ratio so that we can have high profitability for it to make sense to speculate despite the high entry tribute.
If we lower it 4% a month... we only have to sell ~40k worth of tokens every month for it to make sense to speculate on the token. I think this is very doable.
The Reserve Ratio is low but it's not a DAO Casino and with a long lockup we have a long time to grow beyond the Hatch.
Parameter | Value |
---|---|
Commons Tribute | 74.13% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 12.35% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 934991.70 |
Reserve (Before Initial Buy) | 326231.87 |
Common Pool (After Initial Buy) | 999991.70 |
Reserve (After Initial Buy) | 511231.87 |
TEC Price vs ABC Reserve Holdings
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 | 326231.87 | 1956421.69 | 1.35 | 250000.00 wxDAI | 65000.0 | 111622.33 TEC | 2.0 | 18.55% |
1 | 511231.87 | 2068044.02 | 2.0 | 5000.00 wxDAI | 1300.0 | 1842.89 TEC | 2.01 | 0.32% |
2 | 514931.87 | 2069886.91 | 2.01 | 100000.00 wxDAI | 26000.0 | 34616.35 TEC | 2.27 | 5.78% |
3 | 588931.87 | 2104503.27 | 2.27 | 3000.00 TEC | 1758.26 | 5004.29 wxDAI | 2.24 | 0.50% |
4 | 582169.32 | 2101503.27 | 2.24 | 35000.00 wxDAI | 9100.0 | 11329.02 TEC | 2.33 | 1.90% |
5 | 608069.32 | 2112832.29 | 2.33 | 38000.00 wxDAI | 9880.0 | 11830.88 TEC | 2.42 | 1.97% |
6 | 636189.32 | 2124663.17 | 2.42 | 41000.00 wxDAI | 10660.0 | 12261.51 TEC | 2.53 | 2.03% |
7 | 666529.32 | 2136924.67 | 2.53 | 43000.00 wxDAI | 11180.0 | 12344.84 TEC | 2.63 | 2.03% |
8 | 698349.32 | 2149269.52 | 2.63 | 750000.00 wxDAI | 195000.0 | 161009.17 TEC | 4.39 | 23.69% |
9 | 1253349.32 | 2310278.69 | 4.39 | 1000000.00 wxDAI | 260000.0 | 136274.36 TEC | 6.6 | 19.12% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,272,136 | 0.06 | 80,988.28 |
50,000 | 1,551,865 | 0.26 | 404,827.44 |
100,000 | 1,690,576 | 0.48 | 809,627.36 |
200,000 | 1,841,689 | 0.88 | 1,619,223.14 |
300,000 | 1,936,271 | 1.25 | 2,428,817.75 |
400,000 | 2,006,312 | 1.61 | 3,238,421.42 |
500,000 | 2,062,379 | 1.96 | 4,048,018.94 |
600,000 | 2,109,350 | 2.30 | 4,857,618.87 |
700,000 | 2,149,897 | 2.64 | 5,667,206.46 |
800,000 | 2,185,651 | 2.96 | 6,476,807.99 |
900,000 | 2,217,680 | 3.29 | 7,286,409.07 |
1,000,000 | 2,246,729 | 3.60 | 8,095,997.95 |
1,250,000 | 2,309,516 | 4.38 | 10,120,013.23 |
1,500,000 | 2,362,116 | 5.14 | 12,144,008.50 |
1,750,000 | 2,407,522 | 5.88 | 14,167,985.13 |
2,000,000 | 2,447,560 | 6.62 | 16,191,968.94 |
2,500,000 | 2,515,958 | 8.04 | 20,239,967.26 |
3,000,000 | 2,573,261 | 9.44 | 24,287,983.02 |
3,500,000 | 2,622,726 | 10.80 | 28,335,977.04 |
4,000,000 | 2,666,343 | 12.15 | 32,383,959.07 |
5,000,000 | 2,740,855 | 14.77 | 40,479,882.36 |
7,500,000 | 2,881,619 | 21.07 | 60,719,903.06 |
10,000,000 | 2,985,855 | 27.11 | 80,959,890.77 |
15,000,000 | 3,139,200 | 38.68 | 121,439,681.92 |
20,000,000 | 3,252,754 | 49.78 | 161,919,634.02 |
50,000,000 | 3,642,537 | 111.13 | 404,799,207.16 |
100,000,000 | 3,968,137 | 204.02 | 809,598,524.79 |
Module 3: Tao Voting
Strategy:
The Tao Voting parameters provide a voting system that requires a high amount of support (80%), and a moderate quorum (10%) of participation.... this is almost the same as our HatchDAO but higher quorum because we have delegation and lower support required because we are now an open community, not just the Trusted Seed.
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.
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 12% ensuring that we can fund 40k-70k proposals if we need to given our large Common Pool (it would take 26.7% of the tokens 2 weeks to pass a 48k proposal). These are of course inspired by Nate's Orogeny params with a low Minimum Conviction (1%) and high Conviction Growth (60 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.
Most proposals asking for 1-4% of the Common Pool will take 8-15% of tokens holding conviction for 1-2 weeks to pass a proposal.
Parameter | Value |
---|---|
Conviction Growth | 60 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 12.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 17851 |
2 | 5,000 | 100,000 | 1,500,000 | 44081 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 15338 |
5 | 5,000 | 750,000 | 1,500,000 | 16816 |
6 | 25,000 | 750,000 | 1,500,000 | 28757 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 40 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 40 weeks. They can still be used to vote while frozen.
- Token Thaw: 104 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 104 weeks later.
- Opening Price: 1.35 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.35 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 74.13%, which means that 74.13% of the Hatch funds (934991.70 wxDAI) will go to the Common Pool and 25.87% (326231.87 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 26.00% meaning that from every BUY order on the ABC, 26.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.00% meaning that from every SELL order on the ABC, 0.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 80%, which means 80% 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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 60 day(s), meaning that voting power will increase by 50% every 60 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: 12.0%, which means that no more than 12.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 2.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
The Bolshevik's Gambit fork with Lower Min. Quorum
What is the overall Commons Configuration strategy?
This is not a proposal for the weak willed.
We are charting out into new territories of ideology, coalescing into forms of governance and economics. We have rallied a strong community around our cause with our Trusted Seed. We should be confident in our cultural build to guide us to where we need to go without imposing technical red tape on our primary revolutionaries.
We have to recognize that the TEC at launch will not be same force as it will be in 6 months. We can expect to expand and mature with time and our post-launch settings will adjust to reflect our evolution. I have outlined envisioned changes in this proposal.
A low opening price reduces the sell pressure once we go post token freeze, likely adhering hatcher's to our mission rather than salivating like wild beasts over the token price. However newcomers will want to take part and the buy pressure with such a low opening price will be considerable. with an ample entry tribute we can hope to secure a further amount of funding, while slightly dissuading sells.
Tao Voting and Conviction Voting is reasonably agile, which is what any radical movement needs. We can hope to adjust our settings as our Commons cools off post-revolution.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.07 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 67.70% |
Entry Tribute | 7.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.46% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
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 | 2 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 8 day(s) |
Minimum Conviction | 8.0% |
Spending Limit | 18.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Revolutions happen quickly. We have supreme confidence in our plan to create an amazing Commons and generate value. 3 months Freeze is a reasonable amount of time in crypto to hold tokens. That being said, a year of Thaw means that TEC holder's will be very unikely to sell their Tokens for a while since so little will be available. If they intend to sell they will wait and speculate a bit longer.
Taking this into consideration as well we have to "Trust" our trusted seed. These Hatchers are not likely to sell en masse anyway unless we really mess up.
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.07 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 | 1.92% | 1.05 wxDAI |
6 months | 26.92% | 0.78 wxDAI |
9 months | 51.92% | 0.51 wxDAI |
1 year | 76.92% | 0.25 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:
We're coming to realize we'll need a good chunk of money to kick-start our vision and to adequately reward contributors and fund WGs and projects. This leaves us well over 800k to ignite the revolution.
A low opening price is fine because Hatcher's are true believers in the cause, in the collective well being of the Commons and spreading its ideology. Even with a low initial balance the reserve ratio is at a healthy amount, this means that as our supply grows we can count of having lower amounts of price slippage
Strong tributes in the beginning will test the resolve of our new revolutionistas and penalize the feeble-willed who abandon our cause early. By having higher tributes we can hope to capture additional funding from the hype train generated by the Commons Upgrade.
Once our revolution is successful and our provisional government is established we can put our Tao Voting parameters to the test by lowering the tributes to healthier economic levels (3, 3). I envision this happening within 3-6 months.
Parameter | Value |
---|---|
Commons Tribute | 67.70% |
Entry Tribute | 7.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.46% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 853848.36 |
Reserve (Before Initial Buy) | 407375.21 |
Common Pool (After Initial Buy) | 871348.36 |
Reserve (After Initial Buy) | 639875.21 |
TEC Price vs ABC Reserve Holdings
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 | 407375.21 | 1956421.69 | 1.07 | 250000.00 wxDAI | 17500.0 | 179690.94 TEC | 1.54 | 17.30% |
1 | 639875.21 | 2136112.62 | 1.54 | 5000.00 wxDAI | 350.0 | 3012.06 TEC | 1.55 | 0.29% |
2 | 644525.21 | 2139124.68 | 1.55 | 100000.00 wxDAI | 7000.0 | 56851.05 TEC | 1.73 | 5.35% |
3 | 737525.21 | 2195975.73 | 1.73 | 3000.00 TEC | 361.4 | 4801.51 wxDAI | 1.72 | 0.28% |
4 | 732362.3 | 2192975.73 | 1.72 | 2000.00 TEC | 239.8 | 3185.94 wxDAI | 1.71 | 0.19% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 950,979 | 0.05 | 51,397.38 |
50,000 | 1,300,703 | 0.20 | 256,944.42 |
100,000 | 1,488,530 | 0.35 | 513,877.95 |
200,000 | 1,703,484 | 0.60 | 1,027,746.49 |
300,000 | 1,843,340 | 0.84 | 1,541,614.75 |
400,000 | 1,949,480 | 1.05 | 2,055,482.25 |
500,000 | 2,035,999 | 1.26 | 2,569,348.13 |
600,000 | 2,109,533 | 1.46 | 3,083,217.79 |
700,000 | 2,173,774 | 1.65 | 3,597,084.16 |
800,000 | 2,231,001 | 1.84 | 4,110,952.97 |
900,000 | 2,282,728 | 2.03 | 4,624,821.51 |
1,000,000 | 2,330,015 | 2.21 | 5,138,690.05 |
1,250,000 | 2,433,423 | 2.64 | 6,423,361.23 |
1,500,000 | 2,521,311 | 3.06 | 7,708,031.62 |
1,750,000 | 2,598,091 | 3.46 | 8,992,698.15 |
2,000,000 | 2,666,489 | 3.85 | 10,277,368.83 |
2,500,000 | 2,784,830 | 4.61 | 12,846,711.68 |
3,000,000 | 2,885,410 | 5.34 | 15,416,051.51 |
3,500,000 | 2,973,278 | 6.05 | 17,985,391.13 |
4,000,000 | 3,051,553 | 6.74 | 20,554,728.64 |
5,000,000 | 3,186,983 | 8.06 | 25,693,401.45 |
7,500,000 | 3,448,638 | 11.18 | 38,540,116.87 |
10,000,000 | 3,647,211 | 14.09 | 51,386,803.09 |
15,000,000 | 3,946,651 | 19.53 | 77,080,216.39 |
20,000,000 | 4,173,901 | 24.62 | 102,773,592.03 |
50,000,000 | 4,988,641 | 51.50 | 256,933,939.63 |
100,000,000 | 5,709,044 | 90.01 | 513,868,051.61 |
Module 3: Tao Voting
Strategy:
Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made!
A quick-er vote duration means we could wrap up and execute votes within one week. If there's any contention we add ample time for more participation.
A greater execution delay however allows our economy's participants to react to any potential changes to its configuration before being implemented.
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 | 2 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 | 7 days | 10 days | 13 days |
Module 4: Conviction Voting
Strategy:
With these settings we can use the considerable muscle contained in our Common Pool to kick-start projects and disburse funding without too much hassle. Once we have set projects well on their way and our new Commons' economy has stabilized we can reduce the Spending Limit to a conservative 12-13%
Parameter | Value |
---|---|
Conviction Growth | 8 day(s) |
Minimum Conviction | 8.0% |
Spending Limit | 18.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 134532 |
2 | 5,000 | 100,000 | 1,500,000 | 230059 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 121797 |
5 | 5,000 | 750,000 | 1,500,000 | 129408 |
6 | 25,000 | 750,000 | 1,500,000 | 180743 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 12 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 12 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: 1.07 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.07 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 67.70%, which means that 67.70% of the Hatch funds (853848.36 wxDAI) will go to the Common Pool and 32.30% (407375.21 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 7.00% meaning that from every BUY order on the ABC, 7.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 10.00% meaning that from every SELL order on the ABC, 10.00% 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: 2 day(s), meaning that there is an 2 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 8 day(s), meaning that voting power will increase by 50% every 8 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: 8.0%, this means that to pass any funding request it will take at least 8.0% of the actively voting TEC tokens.
- The Spending Limit: 18.0%, which means that no more than 18.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Enjoy Your Stay!
What is the overall Commons Configuration strategy?
This strategy is designed to ensure the stability of the ABC throughout the early stages of Commons Development while prioritizing small funding proposals that make an impact in the space and expanding the utility of the TEC token and the role of the Token Engineering Commons within this industry. This proposal also ensures that those buying into the community are value aligned, and are dedicated to staying for long period of time.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 18 Weeks |
Token Thaw | 78 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 32.00% |
Entry Tribute | 1.00% |
Exit Tribute | 40.00% |
*Reserve Ratio | 43.84% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 78% |
Minimum Quorum | 8% |
Vote Duration | 10 day(s) |
Delegated Voting Period | 7 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 3 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 42 day(s) |
Minimum Conviction | 0.8% |
Spending Limit | 11.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Opening Price is at the lower end ($1.50) allowing for initial token buyers to get in at a perceived bargain even after the initial buy-in. The Token Freeze (18 weeks) provides a 4+ month buffer to allow enough economic activity to occur on the ABC while minimizing the amount of time for value-aligned members to begin putting their tokens to use. The Token Thaw period (1.5 year) allows for a responsible amount of time to effectively distribute potential sell pressure placed on the ABC.
Parameter | Value |
---|---|
Token Freeze | 18 Weeks |
Token Thaw | 78 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 10.26% | 0.90 wxDAI |
9 months | 26.92% | 0.73 wxDAI |
1 year | 43.59% | 0.56 wxDAI |
1.5 years | 76.92% | 0.23 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:
The Commons Tribute (42%) will allow for a substantial amount of funds to be available for distribution granting the TEC Token more opportunity for external utility.
The Entry Tribute (0%) and Exit Tribute (40%) is an extreme design that prevents speculation on the curve early on and allows for value-aligned individuals to enter into the TEC economy. Most proposals come with the assumption that the Entry & Exit Tributes will be altered after the Commons Upgrade. This extreme design guarantees that alteration, while preventing speculation by creating easy access for those who want to buy into the economy, and a harsh penalty for leaving.
Parameter | Value |
---|---|
Commons Tribute | 32.00% |
Entry Tribute | 1.00% |
Exit Tribute | 40.00% |
*Reserve Ratio | 43.84% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 403591.54 |
Reserve (Before Initial Buy) | 857632.03 |
Common Pool (After Initial Buy) | 406091.54 |
Reserve (After Initial Buy) | 1105132.03 |
TEC Price vs ABC Reserve Holdings
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 | 857632.03 | 1956421.69 | 1.0 | 250000.00 wxDAI | 2500.0 | 229992.94 TEC | 1.15 | 7.07% |
1 | 1105132.03 | 2186414.63 | 1.15 | 5000.00 wxDAI | 50.0 | 4287.62 TEC | 1.16 | 0.13% |
2 | 1110082.03 | 2190702.25 | 1.16 | 100000.00 wxDAI | 1000.0 | 83594.34 TEC | 1.21 | 2.39% |
3 | 1209082.03 | 2274296.59 | 1.21 | 3000.00 TEC | 36.35 | 3598.81 wxDAI | 1.21 | 0.08% |
4 | 1205446.86 | 2271296.59 | 1.21 | 11000.00 TEC | 132.76 | 13143.61 wxDAI | 1.2 | 0.31% |
5 | 1192170.49 | 2260296.59 | 1.2 | 50000.00 TEC | 593.09 | 58715.72 wxDAI | 1.17 | 1.41% |
6 | 1132861.68 | 2210296.59 | 1.17 | 500.00 TEC | 5.85 | 578.67 wxDAI | 1.17 | 0.01% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 277,957 | 0.08 | 22,813.35 |
50,000 | 562,826 | 0.20 | 114,060.95 |
100,000 | 762,666 | 0.30 | 228,120.40 |
200,000 | 1,033,465 | 0.44 | 456,239.48 |
300,000 | 1,234,492 | 0.55 | 684,358.45 |
400,000 | 1,400,417 | 0.65 | 912,477.35 |
500,000 | 1,544,328 | 0.74 | 1,140,596.27 |
600,000 | 1,672,823 | 0.82 | 1,368,715.32 |
700,000 | 1,789,770 | 0.89 | 1,596,834.26 |
800,000 | 1,897,663 | 0.96 | 1,824,953.26 |
900,000 | 1,998,217 | 1.03 | 2,053,072.42 |
1,000,000 | 2,092,672 | 1.09 | 2,281,191.22 |
1,250,000 | 2,307,722 | 1.24 | 2,851,489.02 |
1,500,000 | 2,499,735 | 1.37 | 3,421,786.39 |
1,750,000 | 2,674,492 | 1.49 | 3,992,084.10 |
2,000,000 | 2,835,718 | 1.61 | 4,562,381.43 |
2,500,000 | 3,127,125 | 1.82 | 5,702,976.30 |
3,000,000 | 3,387,316 | 2.02 | 6,843,571.45 |
3,500,000 | 3,624,124 | 2.20 | 7,984,166.60 |
4,000,000 | 3,842,597 | 2.37 | 9,124,761.33 |
5,000,000 | 4,237,474 | 2.69 | 11,405,951.08 |
7,500,000 | 5,061,739 | 3.38 | 17,108,926.65 |
10,000,000 | 5,742,075 | 3.97 | 22,811,902.22 |
15,000,000 | 6,859,012 | 4.99 | 34,217,852.04 |
20,000,000 | 7,780,915 | 5.86 | 45,623,801.90 |
50,000,000 | 11,627,188 | 9.81 | 114,059,503.08 |
100,000,000 | 15,755,657 | 14.48 | 228,119,008.97 |
Module 3: Tao Voting
Strategy:
The TAO Voting parameters provide a voting system that requires a high amount of support (78%), and a moderate quorum (8%) of participation. The Vote Duration (10 days) allows a sufficient amount of time for community engagement. Delegated Voting (7 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 (3 days) is sufficient time for the community to prepare for voting outcomes.
Parameter | Value |
---|---|
Support Required | 78% |
Minimum Quorum | 8% |
Vote Duration | 10 day(s) |
Delegated Voting Period | 7 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 3 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 | 10 days | 12 days | 14 days |
Time to Review a Delegates Vote | 3 days | 5 days | 7 days |
Time to Execute a Passing Proposal | 13 days | 15 days | 17 days |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit (11%) 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 Minimum Conviction (0.8%) reduces the minimum effective supply which reflects the spending limit strategy -- allowing for an abundance of funding proposals all with the chance of passing with smaller amounts of tokens staked. The Conviction Growth (42 days) ensures that proposals aren't passed too quickly and that the community has an opportunity to move their tokens between proposals without impacting their conviction too quickly.
Parameter | Value |
---|---|
Conviction Growth | 42 day(s) |
Minimum Conviction | 0.8% |
Spending Limit | 11.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 14519 |
2 | 5,000 | 100,000 | 1,500,000 | 40333 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 12296 |
5 | 5,000 | 750,000 | 1,500,000 | 13598 |
6 | 25,000 | 750,000 | 1,500,000 | 24703 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 18 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 18 weeks. They can still be used to vote while frozen.
- Token Thaw: 78 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 78 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: 32.00%, which means that 32.00% of the Hatch funds (403591.54 wxDAI) will go to the Common Pool and 68.00% (857632.03 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 1.00% meaning that from every BUY order on the ABC, 1.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 40.00% meaning that from every SELL order on the ABC, 40.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 78%, which means 78% 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: 10 day(s), meaning that eligible voters will have 10 day(s) to vote on a proposal.
- Delegated Voting Period is set for 7 day(s), meaning that Delegates will have 7 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: 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: 3 day(s), meaning that there is an 3 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 42 day(s), meaning that voting power will increase by 50% every 42 days that they are staked behind a proposal, so after 20 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 0.8%, this means that to pass any funding request it will take at least 0.8% of the actively voting TEC tokens.
- The Spending Limit: 11.0%, which means that no more than 11.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
850k common pool numbers made with love
What is the overall Commons Configuration strategy?
850k Common pool, 18.5% reserve, equal freeze and thaw (6 months), high tributes, DAO voting mostly default and easy to pass 6%-8% proposals at different times - Numbers made with love
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 1.25 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 64.00% |
Entry Tribute | 16.00% |
Exit Tribute | 8.00% |
*Reserve Ratio | 18.57% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 14 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 11.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
After the initial buy, price going to 1.7
6 months freeze
6 months thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 1.25 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% | 1.25 wxDAI |
6 months | 0.00% | 1.25 wxDAI |
9 months | 50.00% | 0.62 wxDAI |
1 year | 100.00% | 0.00 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:
64% tribute to 850k common pool after initial buy
Reserve ratio of 18.5%
High entry tribute
Moderate exit tribute
Parameter | Value |
---|---|
Commons Tribute | 64.00% |
Entry Tribute | 16.00% |
Exit Tribute | 8.00% |
*Reserve Ratio | 18.57% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 807183.08 |
Reserve (Before Initial Buy) | 454040.49 |
Common Pool (After Initial Buy) | 847183.08 |
Reserve (After Initial Buy) | 664040.49 |
TEC Price vs ABC Reserve Holdings
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 | 454040.49 | 1956421.69 | 1.25 | 250000.00 wxDAI | 40000.0 | 143075.01 TEC | 1.7 | 14.84% |
1 | 664040.49 | 2099496.69 | 1.7 | 5000.00 wxDAI | 800.0 | 2459.10 TEC | 1.71 | 0.26% |
2 | 668240.49 | 2101955.79 | 1.71 | 100000.00 wxDAI | 16000.0 | 46720.66 TEC | 1.89 | 4.76% |
3 | 752240.49 | 2148676.46 | 1.89 | 3000.00 TEC | 902.35 | 4737.34 wxDAI | 1.87 | 0.31% |
4 | 746600.8 | 2145676.46 | 1.87 | 1000000.00 wxDAI | 160000.0 | 322328.27 TEC | 3.46 | 28.08% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 963,432 | 0.06 | 53,873.18 |
50,000 | 1,298,910 | 0.21 | 269,318.92 |
100,000 | 1,477,294 | 0.36 | 538,625.41 |
200,000 | 1,680,180 | 0.64 | 1,077,239.93 |
300,000 | 1,811,544 | 0.89 | 1,615,854.57 |
400,000 | 1,910,931 | 1.13 | 2,154,467.47 |
500,000 | 1,991,762 | 1.35 | 2,693,081.04 |
600,000 | 2,060,337 | 1.57 | 3,231,694.22 |
700,000 | 2,120,155 | 1.78 | 3,770,307.49 |
800,000 | 2,173,374 | 1.98 | 4,308,923.97 |
900,000 | 2,221,425 | 2.18 | 4,847,538.81 |
1,000,000 | 2,265,306 | 2.38 | 5,386,149.18 |
1,250,000 | 2,361,127 | 2.85 | 6,732,687.74 |
1,500,000 | 2,442,420 | 3.31 | 8,079,225.97 |
1,750,000 | 2,513,331 | 3.75 | 9,425,755.77 |
2,000,000 | 2,576,420 | 4.18 | 10,772,295.89 |
2,500,000 | 2,685,400 | 5.01 | 13,465,360.26 |
3,000,000 | 2,777,857 | 5.82 | 16,158,434.82 |
3,500,000 | 2,858,508 | 6.59 | 18,851,498.73 |
4,000,000 | 2,930,261 | 7.35 | 21,544,571.16 |
5,000,000 | 3,054,209 | 8.82 | 26,930,708.77 |
7,500,000 | 3,293,003 | 12.27 | 40,396,069.65 |
10,000,000 | 3,473,669 | 15.51 | 53,861,421.65 |
15,000,000 | 3,745,258 | 21.57 | 80,792,105.12 |
20,000,000 | 3,950,737 | 27.27 | 107,722,837.82 |
50,000,000 | 4,683,390 | 57.50 | 269,307,118.73 |
100,000,000 | 5,326,600 | 101.12 | 538,614,312.36 |
Module 3: Tao Voting
Strategy:
Mostly defaults, 4 days of delegated voting period.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days | 11 days |
Time to Review a Delegates Vote | 3 days | 5 days | 7 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
Relatively easy to pass 8%-9% proposals in different times
Parameter | Value |
---|---|
Conviction Growth | 14 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 11.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 54449 |
2 | 5,000 | 100,000 | 1,500,000 | 151250 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 46111 |
5 | 5,000 | 750,000 | 1,500,000 | 50993 |
6 | 25,000 | 750,000 | 1,500,000 | 92637 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 26 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 26 weeks later.
- Opening Price: 1.25 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.25 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 64.00%, which means that 64.00% of the Hatch funds (807183.08 wxDAI) will go to the Common Pool and 36.00% (454040.49 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 16.00% meaning that from every BUY order on the ABC, 16.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 8.00% meaning that from every SELL order on the ABC, 8.00% 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: 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: 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: 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 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: 14 day(s), meaning that voting power will increase by 50% every 14 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: 3.0%, this means that to pass any funding request it will take at least 3.0% of the actively voting TEC tokens.
- The Spending Limit: 11.0%, which means that no more than 11.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Montaña Rusa: The Communist Roller-Coaster
What is the overall Commons Configuration strategy?
This is a fork of TEC Casino & The Bolshevik's Gambit.
This merge reaches a middle ground for two proposals that may seem extreme in some of their parameters (specially the casino!) I particularly have a good feeling about the sum of risk factors around Conviction Voting, allowing the community to coordinate around proposals that need to go through fast but blocking malicious proposals with the help of Celeste.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 13 Weeks |
Token Thaw | 78 Weeks |
Opening Price | 1.05 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 82.00% |
Entry Tribute | 8.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 11.05% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6.5 day(s) |
Delegated Voting Period | 3.5 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 2.5 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 14 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 16.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
A low opening price and low reserve ratio are great ingredients for a degen broth! Let's give the market what they want while letting the hatchers start selling after Q1 2022 to promote diversity in governance.
Parameter | Value |
---|---|
Token Freeze | 13 Weeks |
Token Thaw | 78 Weeks |
Opening Price | 1.05 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% | 1.05 wxDAI |
6 months | 16.67% | 0.88 wxDAI |
9 months | 33.33% | 0.70 wxDAI |
1 year | 50.00% | 0.53 wxDAI |
1.5 years | 83.33% | 0.18 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:
The commons tribute + the initial buy will allow the TEC to have 1M+ in the common pool right at the start, also leaving a low reserve ratio that can cause volatility. A 10% tribute is nothing for degen markets. People are into low liquidity markets for the Xs, not the percentages.
Parameter | Value |
---|---|
Commons Tribute | 82.00% |
Entry Tribute | 8.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 11.05% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 1034203.33 |
Reserve (Before Initial Buy) | 227020.24 |
Common Pool (After Initial Buy) | 1054203.33 |
Reserve (After Initial Buy) | 457020.24 |
TEC Price vs ABC Reserve Holdings
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 | 227020.24 | 1956421.69 | 1.05 | 250000.00 wxDAI | 20000.0 | 157282.00 TEC | 1.96 | 28.20% |
1 | 457020.24 | 2113703.69 | 1.96 | 5000.00 wxDAI | 400.0 | 2340.69 TEC | 1.97 | 0.44% |
2 | 461620.24 | 2116044.37 | 1.97 | 100000.00 wxDAI | 8000.0 | 42928.73 TEC | 2.32 | 7.89% |
3 | 553620.24 | 2158973.1 | 2.32 | 3000.00 TEC | 553.78 | 6368.45 wxDAI | 2.29 | 0.56% |
4 | 546698.02 | 2155973.1 | 2.29 | 5000.00 wxDAI | 400.0 | 1997.32 TEC | 2.31 | 0.37% |
5 | 551298.02 | 2157970.42 | 2.31 | 100000.00 wxDAI | 8000.0 | 37121.43 TEC | 2.65 | 6.73% |
6 | 643298.02 | 2195091.85 | 2.65 | 3000.00 TEC | 632.95 | 7278.94 wxDAI | 2.62 | 0.55% |
7 | 635386.12 | 2192091.85 | 2.62 | 10000.00 wxDAI | 800.0 | 3485.31 TEC | 2.66 | 0.64% |
8 | 644586.12 | 2195577.16 | 2.66 | 20000.00 wxDAI | 1600.0 | 6839.87 TEC | 2.72 | 1.25% |
9 | 662986.12 | 2202417.03 | 2.72 | 40000.00 wxDAI | 3200.0 | 13187.71 TEC | 2.86 | 2.39% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,385,540 | 0.07 | 90,523.23 |
50,000 | 1,655,194 | 0.27 | 452,472.42 |
100,000 | 1,786,959 | 0.51 | 904,905.21 |
200,000 | 1,929,218 | 0.94 | 1,809,773.98 |
300,000 | 2,017,629 | 1.35 | 2,714,643.33 |
400,000 | 2,082,805 | 1.74 | 3,619,520.38 |
500,000 | 2,134,805 | 2.12 | 4,524,385.47 |
600,000 | 2,178,255 | 2.49 | 5,429,257.56 |
700,000 | 2,215,680 | 2.86 | 6,334,122.33 |
800,000 | 2,248,619 | 3.22 | 7,238,988.34 |
900,000 | 2,278,080 | 3.57 | 8,143,862.11 |
1,000,000 | 2,304,760 | 3.93 | 9,048,736.26 |
1,250,000 | 2,362,303 | 4.79 | 11,310,929.53 |
1,500,000 | 2,410,382 | 5.63 | 13,573,072.77 |
1,750,000 | 2,451,797 | 6.46 | 15,835,290.39 |
2,000,000 | 2,488,246 | 7.27 | 18,097,431.77 |
2,500,000 | 2,550,369 | 8.87 | 22,621,772.17 |
3,000,000 | 2,602,278 | 10.43 | 27,146,188.95 |
3,500,000 | 2,646,989 | 11.96 | 31,670,527.47 |
4,000,000 | 2,686,340 | 13.47 | 36,194,868.47 |
5,000,000 | 2,753,409 | 16.43 | 45,243,575.71 |
7,500,000 | 2,879,593 | 23.57 | 67,865,325.37 |
10,000,000 | 2,972,613 | 30.44 | 90,487,033.20 |
15,000,000 | 3,108,843 | 43.66 | 135,730,768.88 |
20,000,000 | 3,209,269 | 56.39 | 180,974,437.22 |
50,000,000 | 3,551,269 | 127.40 | 452,435,694.98 |
100,000,000 | 3,833,993 | 236.01 | 904,871,521.21 |
Module 3: Tao Voting
Strategy:
Averages between TEC Casino and Bolshevik's Gambit let us have an extra half day for some of these params, giving extra hours for people in different time zones before votes close.
10 days is the most a Tao vote can last.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6.5 day(s) |
Delegated Voting Period | 3.5 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 2.5 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 | 6.5 days | 9.0 days | 11.5 days |
Time to Review a Delegates Vote | 3.0 days | 5.5 days | 8.0 days |
Time to Execute a Passing Proposal | 7.5 days | 10.0 days | 12.5 days |
Module 4: Conviction Voting
Strategy:
YES, this is fragile. But enough coordination can allow us to pass a proposal in as short as 3 to 7 days.
Malicious proposal? We have Celeste so I hope you've been stacking your HNY!
Parameter | Value |
---|---|
Conviction Growth | 14 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 16.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 51200 |
2 | 5,000 | 100,000 | 1,500,000 | 95206 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 45759 |
5 | 5,000 | 750,000 | 1,500,000 | 48998 |
6 | 25,000 | 750,000 | 1,500,000 | 71800 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 78 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 78 weeks later.
- Opening Price: 1.05 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.05 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 82.00%, which means that 82.00% of the Hatch funds (1034203.33 wxDAI) will go to the Common Pool and 18.00% (227020.24 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 8.00% meaning that from every BUY order on the ABC, 8.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% 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: 6.5 day(s), meaning that eligible voters will have 6.5 day(s) to vote on a proposal.
- Delegated Voting Period is set for 3.5 day(s), meaning that Delegates will have 3.5 day(s) to use their delegated voting power to vote on a proposal.
- Quiet Ending Period: 1 day(s), this means that 1 day(s) before the end of the Vote Duration, if the vote outcome changes, the Quiet Ending Extension will be triggered.
- Quiet Ending Extension: 2.5 day(s), meaning that if the vote outcome changes during the Quiet Ending Period, an additional 2.5 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: 14 day(s), meaning that voting power will increase by 50% every 14 days that they are staked behind a proposal, so after 13.0 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 3.0%, this means that to pass any funding request it will take at least 3.0% of the actively voting TEC tokens.
- The Spending Limit: 16.0%, which means that no more than 16.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
PG13 Topless Goldilocks ("almost no vest")
What is the overall Commons Configuration strategy?
This is a fork of "Without vesting, people will sell TEC, Challenge accepted" with some tweaks to make it a little more conservative, a little less risky, a lot more "just right" (sorry, I can't not "Goldilocks")
From the original:
The overall strategy, it's empowering TEC holders and trust in the Hatchers, balanced numbers for common pool.
My adds: a little tiny vest, a little higher opening price, a little extra tribute, a little extra quiet ending, a little less min conviction
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 1.8 Weeks |
Token Thaw | 1.8 Weeks |
Opening Price | 1.04 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 50.00% |
Entry Tribute | 1.80% |
Exit Tribute | 1.80% |
*Reserve Ratio | 30.99% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 28 day(s) |
Minimum Conviction | 1.8000000000000003% |
Spending Limit | 18.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
I think a tiiiny bit of vesting, in the early days is a good idea as it encourages speculators to buy/sell and generated funds for the common pool. However, keeping with the original proposal's intetion, I made this very minimal (less than 1 month).
Parameter | Value |
---|---|
Token Freeze | 1.8 Weeks |
Token Thaw | 1.8 Weeks |
Opening Price | 1.04 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 | 100.00% | 0.00 wxDAI |
6 months | 100.00% | 0.00 wxDAI |
9 months | 100.00% | 0.00 wxDAI |
1 year | 100.00% | 0.00 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:
Original proposal:
The more money we have on the common pool and reserve the better so 50/50 :D.
Entry tribute and exit tribute as low as possible to incentivize speculation.
My adds: I bumped up the tributes a bit - this is a great opportunity to still generate a little funding
Parameter | Value |
---|---|
Commons Tribute | 50.00% |
Entry Tribute | 1.80% |
Exit Tribute | 1.80% |
*Reserve Ratio | 30.99% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 630611.79 |
Reserve (Before Initial Buy) | 630611.79 |
Common Pool (After Initial Buy) | 635111.79 |
Reserve (After Initial Buy) | 876111.79 |
TEC Price vs ABC Reserve Holdings
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 | 630611.79 | 1956421.69 | 1.04 | 250000.00 wxDAI | 4500.0 | 209885.05 TEC | 1.3 | 11.09% |
1 | 876111.79 | 2166306.73 | 1.3 | 5000.00 wxDAI | 90.0 | 3755.52 TEC | 1.31 | 0.19% |
2 | 881021.78 | 2170062.25 | 1.31 | 100000.00 wxDAI | 1800.0 | 72251.28 TEC | 1.41 | 3.62% |
3 | 979221.78 | 2242313.53 | 1.41 | 3000.00 TEC | 75.97 | 4144.81 wxDAI | 1.4 | 0.15% |
4 | 975001.0 | 2239313.53 | 1.4 | 400000.00 TEC | 8248.75 | 450014.92 wxDAI | 0.91 | 18.45% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 541,594 | 0.06 | 32,268.73 |
50,000 | 891,856 | 0.18 | 161,329.22 |
100,000 | 1,105,585 | 0.29 | 322,655.10 |
200,000 | 1,370,535 | 0.47 | 645,306.37 |
300,000 | 1,554,054 | 0.62 | 967,957.80 |
400,000 | 1,698,982 | 0.76 | 1,290,609.70 |
500,000 | 1,820,640 | 0.89 | 1,613,261.00 |
600,000 | 1,926,481 | 1.00 | 1,935,912.68 |
700,000 | 2,020,755 | 1.12 | 2,258,563.95 |
800,000 | 2,106,140 | 1.23 | 2,581,215.72 |
900,000 | 2,184,444 | 1.33 | 2,903,866.66 |
1,000,000 | 2,256,954 | 1.43 | 3,226,518.22 |
1,250,000 | 2,418,567 | 1.67 | 4,033,146.97 |
1,500,000 | 2,559,169 | 1.89 | 4,839,776.05 |
1,750,000 | 2,684,404 | 2.10 | 5,646,405.19 |
2,000,000 | 2,797,831 | 2.31 | 6,453,033.26 |
2,500,000 | 2,998,175 | 2.69 | 8,066,291.49 |
3,000,000 | 3,172,471 | 3.05 | 9,679,547.28 |
3,500,000 | 3,327,719 | 3.39 | 11,292,804.80 |
4,000,000 | 3,468,328 | 3.72 | 12,906,062.71 |
5,000,000 | 3,716,685 | 4.34 | 16,132,578.20 |
7,500,000 | 4,214,363 | 5.74 | 24,198,863.93 |
10,000,000 | 4,607,385 | 7.00 | 32,265,155.53 |
15,000,000 | 5,224,332 | 9.26 | 48,397,726.89 |
20,000,000 | 5,711,541 | 11.30 | 64,530,302.44 |
50,000,000 | 7,587,306 | 21.26 | 161,325,758.50 |
100,000,000 | 9,405,597 | 34.30 | 322,651,525.39 |
Module 3: Tao Voting
Strategy:
I think at least 1 day for quiet ending period is good. bumped this up from 12 hrs
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
A balanced kind of Orogeny. Bumped up the minimum conviction to make it possible to pass medium proposals within a little less time.
Parameter | Value |
---|---|
Conviction Growth | 28 day(s) |
Minimum Conviction | 1.8000000000000003% |
Spending Limit | 18.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 30269 |
2 | 5,000 | 100,000 | 1,500,000 | 51763 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 27404 |
5 | 5,000 | 750,000 | 1,500,000 | 29116 |
6 | 25,000 | 750,000 | 1,500,000 | 40667 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 1.8 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 1.8 weeks. They can still be used to vote while frozen.
- Token Thaw: 1.8 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 1.8 weeks later.
- Opening Price: 1.04 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.04 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 (630611.79 wxDAI) will go to the Common Pool and 50.00% (630611.79 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 1.80% meaning that from every BUY order on the ABC, 1.80% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 1.80% meaning that from every SELL order on the ABC, 1.80% 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: 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: 1 day(s), this means that 1 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 28 day(s), meaning that voting power will increase by 50% every 28 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: 1.8000000000000003%, this means that to pass any funding request it will take at least 1.8000000000000003% of the actively voting TEC tokens.
- The Spending Limit: 18.0%, which means that no more than 18.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 250 wxDAI |
Challenge Deposit | 500 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
$1 Gambit for $1,000,000 Goldilocks Orogeny
What is the overall Commons Configuration strategy?
This is merging of The Bolshevik's Gambit fork with Lower Min. Quorum #72's Token Thaw and Tao Voting (with a few tweaks) and Goldilocks' Million Dollar Entry into Orogeny #71 CV and ABC with a few tweaks
So shout out to Lauren, Mitch, Nate, Zep and Tam who all influenced this config.
This Proposal expects a strong community that can coordinate to pass both Tao Voting and Conviction Voting Proposals. The real things to note about this proposal is the ~1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, the 5 day voting period, $1 opening price and the lowish Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 22% and 2% to 2% and 12% in 5 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a 40 Mil Market Cap so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
The CV Params are set so that it takes a week to pass any serious proposal with 15-20% of token holders sitting with their tokens behind the proposal. This will make the Token holders have to coordinate (without having to talk) to pass proposals.... I can imagine that we will want to post the Passing and Leading proposals that have a lot of voting power behind them every week to aid voters in coordinating around advancing token engineering.
This Proposal expects a strong community that can coordinate to pass both Tao Voting and Conviction Voting Proposals. The real things to note about this proposal is the >1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, and the low Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 26% and 0% to 2% and 12% in 6 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a ~40 Mil Market Cap and have some alternative funding streams and methods of liquidity secured so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
The CV Params are set so that it takes a week to pass any serious proposal with 15-20% of token holders sitting with their tokens behind the proposal. This will make the Token holders have to coordinate (without having to talk) to pass proposals.... I can imagine that we will want to post the Passing and Leading proposals that have a lot of voting power behind them every week to aid voters in coordinating around advancing token engineering.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 16.12% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 60 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 12.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
We have supreme confidence in our plan to create an amazing Commons and generate value. 6 months Freeze is a reasonable amount of time in crypto to hold tokens. That being said, a year of Thaw means that TEC holder's will be very unikely to sell their Tokens for a while since so little will be available. If they intend to sell they will wait and speculate a bit longer.
By setting the price at $1 we recognize that there are more TEC friends out there that could try to jump in ASAP.
This low opening price is fine because Hatcher's are true believers in the cause, in the collective well being of the Commons and spreading its ideology.
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 0.00% | 1.00 wxDAI |
9 months | 25.00% | 0.75 wxDAI |
1 year | 50.00% | 0.50 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:
Even with a low Reserve (~315k) the reserve ratio is above 15%. This allows for the price to grow at a fast rate and give people that crypto feel... but isn't a DAO casino, not the slightest. The 250k initial buy only changes the price 50 cents. Giving the hatchers a 50% profit out the gate.
A 5k buy changes the price 1 penny.
A 20k Buy changes the price 4 cents and experience 1% slippage
This is just right!
The Commons Tribute and Entry Tribute are set so that there is about ~1 mil in the Common Pool after the initial buy.
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (22%) 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 if this proposal is chosen we should plan to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 5 months.
If we lower it 4% a month... we only have to sell ~40k worth of tokens every month for it to make sense to speculate on the token. I think this is very doable.
The Reserve Ratio is low but it's not a DAO Casino and with a $1 opening price we can have a normal lockup time and room to grow.
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 16.12% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 1000917.68 |
Reserve (After Initial Buy) | 510305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.0 | 250000.00 wxDAI | 55000.0 | 157854.61 TEC | 1.5 | 19.05% |
1 | 510305.89 | 2114276.3 | 1.5 | 5000.00 wxDAI | 1100.0 | 2595.84 TEC | 1.51 | 0.32% |
2 | 514205.89 | 2116872.13 | 1.51 | 100000.00 wxDAI | 22000.0 | 48735.46 TEC | 1.7 | 5.83% |
3 | 592205.89 | 2165607.59 | 1.7 | 3000.00 TEC | 1115.84 | 3956.16 wxDAI | 1.68 | 0.36% |
4 | 587133.89 | 2162607.59 | 1.68 | 10000.00 wxDAI | 2200.0 | 4604.66 TEC | 1.7 | 0.55% |
5 | 594933.89 | 2167212.25 | 1.7 | 20000.00 wxDAI | 4400.0 | 9059.42 TEC | 1.74 | 1.08% |
6 | 610533.89 | 2176271.67 | 1.74 | 40000.00 wxDAI | 8800.0 | 17551.14 TEC | 1.82 | 2.08% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,121,858 | 0.06 | 62,064.45 |
50,000 | 1,454,028 | 0.21 | 310,257.95 |
100,000 | 1,625,872 | 0.38 | 620,499.52 |
200,000 | 1,818,029 | 0.68 | 1,240,982.45 |
300,000 | 1,940,797 | 0.96 | 1,861,464.95 |
400,000 | 2,032,898 | 1.22 | 2,481,949.25 |
500,000 | 2,107,337 | 1.47 | 3,102,431.82 |
600,000 | 2,170,177 | 1.72 | 3,722,915.36 |
700,000 | 2,224,768 | 1.95 | 4,343,401.31 |
800,000 | 2,273,164 | 2.18 | 4,963,878.13 |
900,000 | 2,316,726 | 2.41 | 5,584,361.60 |
1,000,000 | 2,356,401 | 2.63 | 6,204,851.05 |
1,250,000 | 2,442,686 | 3.18 | 7,756,055.56 |
1,500,000 | 2,515,526 | 3.70 | 9,307,269.09 |
1,750,000 | 2,578,804 | 4.21 | 10,858,476.01 |
2,000,000 | 2,634,902 | 4.71 | 12,409,685.18 |
2,500,000 | 2,731,385 | 5.68 | 15,512,088.76 |
3,000,000 | 2,812,834 | 6.62 | 18,614,515.88 |
3,500,000 | 2,883,591 | 7.53 | 21,716,945.27 |
4,000,000 | 2,946,320 | 8.42 | 24,819,350.86 |
5,000,000 | 3,054,206 | 10.16 | 31,024,191.10 |
7,500,000 | 3,260,453 | 14.27 | 46,536,285.84 |
10,000,000 | 3,415,181 | 18.17 | 62,048,361.54 |
15,000,000 | 3,645,804 | 25.53 | 93,072,524.01 |
20,000,000 | 3,818,819 | 32.50 | 124,096,744.36 |
50,000,000 | 4,426,525 | 70.09 | 310,241,774.23 |
100,000,000 | 4,949,693 | 125.36 | 620,483,539.50 |
Module 3: Tao Voting
Strategy:
Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made! That said, 10% is fair.
A quick-er vote duration means we could wrap up and execute votes within 5.5 days. If there's any contention 2 days are added to the vote so we have ample time for more participation.
A 12 hour minimum execution delay is given that there is a 3 day quiet ending period so people won't be surprised by an outcome... and anyone who REALLY cares would never be asleep after the outcome is certain but before it's execution.
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 7 days | 9 days |
Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
Time to Execute a Passing Proposal | 5.5 days | 7.5 days | 9.5 days |
Module 4: Conviction Voting
Strategy:
Goldilocks' Million Dollar Entry into Orogeny CV Params
With the conviction voting module, I set the Spending Limit at 12% ensuring that we can fund 40k-70k proposals if we need to given our large Common Pool (it would take 26.7% of the tokens 2 weeks to pass a 48k proposal). These are of course inspired by Nate's Orogeny params with a low Minimum Conviction (1%) and high Conviction Growth (60 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.
Most proposals asking for 1-4% of the Common Pool will take 8-15% of tokens holding conviction for 1-2 weeks to pass a proposal.
Parameter | Value |
---|---|
Conviction Growth | 60 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 12.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 17851 |
2 | 5,000 | 100,000 | 1,500,000 | 44081 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 15338 |
5 | 5,000 | 750,000 | 1,500,000 | 16816 |
6 | 25,000 | 750,000 | 1,500,000 | 28757 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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 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: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 22.00% meaning that from every BUY order on the ABC, 22.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 85%, which means 85% 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 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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 60 day(s), meaning that voting power will increase by 50% every 60 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: 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: 12.0%, which means that no more than 12.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Harnessing the power of 7 and 13 to out-meme the 8
What is the overall Commons Configuration strategy?
The universe is vast and unpredictable. Our Commons is taking the bold first steps into a new world brimming with opportunity, but also riddled with risk.
Luckily, we have been given a powerful compass to guide us through uncertainty.
Good and bad. Ying and yang. Luck and misfortune. The wisdom encoded within the numbers 7 and 13 captures the duality of destiny in a way the puny 8 never could. We have followed their lead while designing our commons, and they have made us witness to the pinnacle of paramater design.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 1.75 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 49.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 18.79% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
This carefully chosen paramters set the best possible stage for the first steps of our DAO:
213 weeks where tokens are frozen to protect against bad luck, then 117 weeks thaw to guarantee smooth sailing. Also, since 2+11 is 13 cosmic balance is preserved throughout.
(For the non-believers, this would "just" amount to a 6 month freeze and a 1.5 year thaw)
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 1.75 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% | 1.75 wxDAI |
6 months | 0.00% | 1.75 wxDAI |
9 months | 16.88% | 1.45 wxDAI |
1 year | 33.77% | 1.16 wxDAI |
1.5 years | 67.53% | 0.57 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:
Anything involving smart contracts should only ever be exposed to good fortune, so here we bet on 777 :
7*7 for commons tribute, and the last 7 as the total tribute paid by somebody who completes the cycle of entering and exiting the TEC.
Parameter | Value |
---|---|
Commons Tribute | 49.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 18.79% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 617999.55 |
Reserve (Before Initial Buy) | 643224.02 |
Common Pool (After Initial Buy) | 626749.55 |
Reserve (After Initial Buy) | 884474.02 |
TEC Price vs ABC Reserve Holdings
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 | 643224.02 | 1956421.69 | 1.75 | 250000.00 wxDAI | 8750.0 | 120640.19 TEC | 2.27 | 12.49% |
1 | 884474.02 | 2077061.88 | 2.27 | 5000.00 wxDAI | 175.0 | 2124.04 TEC | 2.28 | 0.22% |
2 | 889299.02 | 2079185.92 | 2.28 | 100000.00 wxDAI | 3500.0 | 40633.27 TEC | 2.48 | 4.14% |
3 | 985799.02 | 2119819.19 | 2.48 | 3000.00 TEC | 259.11 | 7144.11 wxDAI | 2.46 | 0.31% |
4 | 978395.8 | 2116819.19 | 2.46 | 2000.00 TEC | 171.86 | 4738.49 wxDAI | 2.45 | 0.20% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 894,828 | 0.06 | 53,239.20 |
50,000 | 1,210,716 | 0.22 | 266,150.34 |
100,000 | 1,379,099 | 0.39 | 532,288.40 |
200,000 | 1,570,905 | 0.68 | 1,064,565.84 |
300,000 | 1,695,244 | 0.94 | 1,596,843.53 |
400,000 | 1,789,388 | 1.19 | 2,129,119.31 |
500,000 | 1,865,997 | 1.43 | 2,661,398.16 |
600,000 | 1,931,021 | 1.65 | 3,193,675.99 |
700,000 | 1,987,761 | 1.87 | 3,725,950.72 |
800,000 | 2,038,259 | 2.09 | 4,258,228.27 |
900,000 | 2,083,864 | 2.30 | 4,790,504.94 |
1,000,000 | 2,125,524 | 2.50 | 5,322,785.58 |
1,250,000 | 2,216,525 | 3.00 | 6,653,478.03 |
1,500,000 | 2,293,763 | 3.48 | 7,984,171.74 |
1,750,000 | 2,361,163 | 3.95 | 9,314,869.50 |
2,000,000 | 2,421,146 | 4.40 | 10,645,559.85 |
2,500,000 | 2,524,803 | 5.27 | 13,306,944.30 |
3,000,000 | 2,612,784 | 6.11 | 15,968,336.37 |
3,500,000 | 2,689,558 | 6.93 | 18,629,721.90 |
4,000,000 | 2,757,884 | 7.72 | 21,291,118.96 |
5,000,000 | 2,875,958 | 9.25 | 26,613,879.19 |
7,500,000 | 3,103,596 | 12.86 | 39,920,833.92 |
10,000,000 | 3,275,953 | 16.25 | 53,227,765.75 |
15,000,000 | 3,535,251 | 22.58 | 79,841,612.61 |
20,000,000 | 3,731,580 | 28.53 | 106,455,507.82 |
50,000,000 | 4,432,558 | 60.04 | 266,138,787.28 |
100,000,000 | 5,049,048 | 105.42 | 532,277,634.48 |
Module 3: Tao Voting
Strategy:
Without a doubt, a 7*13 % required support is the perfect metaphor to capture the viscitudes of on-chain governance.
The voting process shall involve 7 days, to adequately ponder weighty decisions.
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 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 | 7 days | 10 days | 13 days |
Time to Review a Delegates Vote | 3 days | 6 days | 9 days |
Time to Execute a Passing Proposal | 8 days | 11 days | 14 days |
Module 4: Conviction Voting
Strategy:
Again, the numbers give us the perfect answer: A spending limit of 7 + 13 % , which will allow to capture opportunity while fending off bankrupcy.
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 66481 |
2 | 5,000 | 100,000 | 1,500,000 | 106666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 60808 |
5 | 5,000 | 750,000 | 1,500,000 | 64209 |
6 | 25,000 | 750,000 | 1,500,000 | 86400 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 77 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 77 weeks later.
- Opening Price: 1.75 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.75 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 49.00%, which means that 49.00% of the Hatch funds (617999.55 wxDAI) will go to the Common Pool and 51.00% (643224.02 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.50% meaning that from every BUY order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 3.50% meaning that from every SELL order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 91%, which means 91% 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: 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: 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 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
TEST Entry into Orogeny
What is the overall Commons Configuration strategy?
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.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.5 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 20.00% |
Exit Tribute | 1.00% |
*Reserve Ratio | 10.74% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 60 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Changed the price to 1.5 but other ...Considering the decent profit (50% / 93%) 1.5 year vesting seems fine. 6 months to get the economy going, 1 year after that to slowly vest... if someone had 10,000 tokens from the Hatch they would get about ~25 tokens a day.
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.5 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% | 1.50 wxDAI |
6 months | 0.00% | 1.50 wxDAI |
9 months | 25.00% | 1.12 wxDAI |
1 year | 50.00% | 0.75 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:
The Commons Tribute is set so that there is about ~680k in the Common Pool and with the initial buy ~720k. 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.
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 20.00% |
Exit Tribute | 1.00% |
*Reserve Ratio | 10.74% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 995917.68 |
Reserve (After Initial Buy) | 515305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.5 | 250000.00 wxDAI | 50000.0 | 106029.22 TEC | 2.33 | 20.48% |
1 | 515305.89 | 2062450.91 | 2.33 | 5000.00 wxDAI | 1000.0 | 1714.18 TEC | 2.34 | 0.34% |
2 | 519305.89 | 2064165.09 | 2.34 | 100000.00 wxDAI | 20000.0 | 32022.30 TEC | 2.66 | 6.27% |
3 | 599305.89 | 2096187.4 | 2.66 | 3000.00 TEC | 1587.12 | 6348.50 wxDAI | 2.63 | 0.59% |
4 | 591370.27 | 2093187.4 | 2.63 | 161000.00 TEC | 62120.17 | 248480.66 wxDAI | 1.35 | 26.63% |
5 | 280769.44 | 1932187.4 | 1.35 | 300000.00 TEC | 44476.35 | 177905.39 wxDAI | 0.33 | 45.19% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,350,372 | 0.07 | 93,111.06 |
50,000 | 1,605,230 | 0.29 | 465,399.85 |
100,000 | 1,729,334 | 0.54 | 930,759.99 |
200,000 | 1,863,038 | 1.00 | 1,861,486.75 |
300,000 | 1,945,992 | 1.43 | 2,792,212.87 |
400,000 | 2,007,080 | 1.85 | 3,722,935.94 |
500,000 | 2,055,782 | 2.26 | 4,653,666.03 |
600,000 | 2,096,449 | 2.66 | 5,584,385.28 |
700,000 | 2,131,460 | 3.06 | 6,515,101.65 |
800,000 | 2,162,261 | 3.44 | 7,445,839.67 |
900,000 | 2,189,798 | 3.83 | 8,376,549.31 |
1,000,000 | 2,214,727 | 4.20 | 9,307,265.73 |
1,250,000 | 2,268,467 | 5.13 | 11,634,069.07 |
1,500,000 | 2,313,343 | 6.03 | 13,960,902.36 |
1,750,000 | 2,351,976 | 6.93 | 16,287,682.08 |
2,000,000 | 2,385,964 | 7.80 | 18,614,548.50 |
2,500,000 | 2,443,859 | 9.52 | 23,268,124.54 |
3,000,000 | 2,492,204 | 11.20 | 27,921,781.18 |
3,500,000 | 2,533,825 | 12.86 | 32,575,413.49 |
4,000,000 | 2,570,439 | 14.48 | 37,228,964.16 |
5,000,000 | 2,632,811 | 17.68 | 46,536,278.31 |
7,500,000 | 2,750,043 | 25.38 | 69,804,342.13 |
10,000,000 | 2,836,373 | 32.81 | 93,072,578.18 |
15,000,000 | 2,962,669 | 47.12 | 139,608,864.90 |
20,000,000 | 3,055,672 | 60.92 | 186,144,786.52 |
50,000,000 | 3,371,807 | 138.02 | 465,362,134.20 |
100,000,000 | 3,632,506 | 256.22 | 930,724,398.98 |
Module 3: Tao Voting
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.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit (20%) on the higher side ensuring that we can fund big proposals if we need to. The rest of the settings were inspired by Nate's Orogeny params with a low Minimum Conviction (1%) and high Conviction Growth (60 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.
Parameter | Value |
---|---|
Conviction Growth | 60 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 16620 |
2 | 5,000 | 100,000 | 1,500,000 | 26666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 15202 |
5 | 5,000 | 750,000 | 1,500,000 | 16052 |
6 | 25,000 | 750,000 | 1,500,000 | 21600 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 1.5 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.5 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 20.00% meaning that from every BUY order on the ABC, 20.00% 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.
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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 60 day(s), meaning that voting power will increase by 50% every 60 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: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 2.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
TEST Entry into Orogeny
What is the overall Commons Configuration strategy?
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.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 20.00% |
Exit Tribute | 1.00% |
*Reserve Ratio | 16.12% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 60 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Considering the decent profit (50% / 93%) 1.5 year vesting seems fine. 6 months to get the economy going, 1 year after that to slowly vest... if someone had 10,000 tokens from the Hatch they would get about ~25 tokens a day.
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 0.00% | 1.00 wxDAI |
9 months | 25.00% | 0.75 wxDAI |
1 year | 50.00% | 0.50 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:
The Commons Tribute is set so that there is about ~680k in the Common Pool and with the initial buy ~720k. 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.
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 20.00% |
Exit Tribute | 1.00% |
*Reserve Ratio | 16.12% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 995917.68 |
Reserve (After Initial Buy) | 515305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.0 | 250000.00 wxDAI | 50000.0 | 161179.62 TEC | 1.51 | 19.41% |
1 | 515305.89 | 2117601.31 | 1.51 | 5000.00 wxDAI | 1000.0 | 2640.58 TEC | 1.52 | 0.32% |
2 | 519305.89 | 2120241.89 | 1.52 | 100000.00 wxDAI | 20000.0 | 49529.23 TEC | 1.71 | 5.91% |
3 | 599305.89 | 2169771.12 | 1.71 | 3000.00 TEC | 1024.6 | 4098.39 wxDAI | 1.7 | 0.36% |
4 | 594182.9 | 2166771.12 | 1.7 | 161000.00 TEC | 45234.24 | 180936.95 wxDAI | 1.14 | 17.44% |
5 | 368011.71 | 2005771.12 | 1.14 | 300000.00 TEC | 46667.44 | 186669.74 wxDAI | 0.49 | 31.68% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,121,858 | 0.06 | 62,064.45 |
50,000 | 1,454,028 | 0.21 | 310,257.95 |
100,000 | 1,625,872 | 0.38 | 620,499.52 |
200,000 | 1,818,029 | 0.68 | 1,240,982.45 |
300,000 | 1,940,797 | 0.96 | 1,861,464.95 |
400,000 | 2,032,898 | 1.22 | 2,481,949.25 |
500,000 | 2,107,337 | 1.47 | 3,102,431.82 |
600,000 | 2,170,177 | 1.72 | 3,722,915.36 |
700,000 | 2,224,768 | 1.95 | 4,343,401.31 |
800,000 | 2,273,164 | 2.18 | 4,963,878.13 |
900,000 | 2,316,726 | 2.41 | 5,584,361.60 |
1,000,000 | 2,356,401 | 2.63 | 6,204,851.05 |
1,250,000 | 2,442,686 | 3.18 | 7,756,055.56 |
1,500,000 | 2,515,526 | 3.70 | 9,307,269.09 |
1,750,000 | 2,578,804 | 4.21 | 10,858,476.01 |
2,000,000 | 2,634,902 | 4.71 | 12,409,685.18 |
2,500,000 | 2,731,385 | 5.68 | 15,512,088.76 |
3,000,000 | 2,812,834 | 6.62 | 18,614,515.88 |
3,500,000 | 2,883,591 | 7.53 | 21,716,945.27 |
4,000,000 | 2,946,320 | 8.42 | 24,819,350.86 |
5,000,000 | 3,054,206 | 10.16 | 31,024,191.10 |
7,500,000 | 3,260,453 | 14.27 | 46,536,285.84 |
10,000,000 | 3,415,181 | 18.17 | 62,048,361.54 |
15,000,000 | 3,645,804 | 25.53 | 93,072,524.01 |
20,000,000 | 3,818,819 | 32.50 | 124,096,744.36 |
50,000,000 | 4,426,525 | 70.09 | 310,241,774.23 |
100,000,000 | 4,949,693 | 125.36 | 620,483,539.50 |
Module 3: Tao Voting
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.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit (20%) on the higher side ensuring that we can fund big proposals if we need to. The rest of the settings were inspired by Nate's Orogeny params with a low Minimum Conviction (1%) and high Conviction Growth (60 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.
Parameter | Value |
---|---|
Conviction Growth | 60 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 16620 |
2 | 5,000 | 100,000 | 1,500,000 | 26666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 15202 |
5 | 5,000 | 750,000 | 1,500,000 | 16052 |
6 | 25,000 | 750,000 | 1,500,000 | 21600 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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 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: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 20.00% meaning that from every BUY order on the ABC, 20.00% 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.
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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 60 day(s), meaning that voting power will increase by 50% every 60 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: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 2.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
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What is the overall Commons Configuration strategy?
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 30 Weeks |
Token Thaw | 100 Weeks |
Opening Price | 1.65 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 50.00% |
Entry Tribute | 3.00% |
Exit Tribute | 15.00% |
*Reserve Ratio | 19.54% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 5 day(s) |
Minimum Conviction | 0.5% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Parameter | Value |
---|---|
Token Freeze | 30 Weeks |
Token Thaw | 100 Weeks |
Opening Price | 1.65 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% | 1.65 wxDAI |
6 months | 0.00% | 1.65 wxDAI |
9 months | 9.00% | 1.50 wxDAI |
1 year | 22.00% | 1.29 wxDAI |
1.5 years | 48.00% | 0.86 wxDAI |
2 years | 74.00% | 0.43 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:
Parameter | Value |
---|---|
Commons Tribute | 50.00% |
Entry Tribute | 3.00% |
Exit Tribute | 15.00% |
*Reserve Ratio | 19.54% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 630611.79 |
Reserve (Before Initial Buy) | 630611.79 |
Common Pool (After Initial Buy) | 638111.79 |
Reserve (After Initial Buy) | 873111.79 |
TEC Price vs ABC Reserve Holdings
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 | 630611.79 | 1956421.69 | 1.65 | 250000.00 wxDAI | 7500.0 | 128391.21 TEC | 2.14 | 12.64% |
1 | 873111.79 | 2084812.89 | 2.14 | 5000.00 wxDAI | 150.0 | 2257.28 TEC | 2.15 | 0.22% |
2 | 877961.79 | 2087070.18 | 2.15 | 100000.00 wxDAI | 3000.0 | 43166.53 TEC | 2.34 | 4.17% |
3 | 974961.78 | 2130236.7 | 2.34 | 3000.00 TEC | 210.25 | 6797.94 wxDAI | 2.33 | 0.29% |
4 | 967953.6 | 2127236.7 | 2.33 | 1000.00 TEC | 69.81 | 2257.22 wxDAI | 2.32 | 0.10% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 870,752 | 0.06 | 0.06 |
50,000 | 1,192,409 | 0.21 | 0.21 |
100,000 | 1,365,305 | 0.37 | 0.37 |
200,000 | 1,563,275 | 0.65 | 0.65 |
300,000 | 1,692,134 | 0.91 | 0.91 |
400,000 | 1,789,953 | 1.14 | 1.14 |
500,000 | 1,869,704 | 1.37 | 1.37 |
600,000 | 1,937,497 | 1.59 | 1.59 |
700,000 | 1,996,729 | 1.79 | 1.79 |
800,000 | 2,049,500 | 2.00 | 2.00 |
900,000 | 2,097,203 | 2.20 | 2.20 |
1,000,000 | 2,140,816 | 2.39 | 2.39 |
1,250,000 | 2,236,200 | 2.86 | 2.86 |
1,500,000 | 2,317,282 | 3.31 | 3.31 |
1,750,000 | 2,388,124 | 3.75 | 3.75 |
2,000,000 | 2,451,239 | 4.18 | 4.18 |
2,500,000 | 2,560,455 | 5.00 | 5.00 |
3,000,000 | 2,653,293 | 5.79 | 5.79 |
3,500,000 | 2,734,409 | 6.55 | 6.55 |
4,000,000 | 2,806,675 | 7.30 | 7.30 |
5,000,000 | 2,931,728 | 8.73 | 8.73 |
7,500,000 | 3,173,388 | 12.10 | 12.10 |
10,000,000 | 3,356,836 | 15.25 | 15.25 |
15,000,000 | 3,633,538 | 21.13 | 21.13 |
20,000,000 | 3,843,586 | 26.64 | 26.64 |
50,000,000 | 4,597,002 | 55.68 | 55.68 |
100,000,000 | 5,263,579 | 97.25 | 97.25 |
Module 3: Tao Voting
Strategy:
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days | 11 days |
Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
Parameter | Value |
---|---|
Conviction Growth | 5 day(s) |
Minimum Conviction | 0.5% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 8310 |
2 | 5,000 | 100,000 | 1,500,000 | 13333 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 7601 |
5 | 5,000 | 750,000 | 1,500,000 | 8026 |
6 | 25,000 | 750,000 | 1,500,000 | 10800 |
7 | 10 | 10 | 10 | Not possible |
8 | 10 | 10 | 10 | Not possible |
9 | 10 | 10 | 10 | Not possible |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 30 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 30 weeks. They can still be used to vote while frozen.
- Token Thaw: 100 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 100 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.
Augmented Bonding Curve (ABC)
- Commons Tribute: 50.00%, which means that 50.00% of the Hatch funds (630611.79 wxDAI) will go to the Common Pool and 50.00% (630611.79 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.00% meaning that from every BUY order on the ABC, 3.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 15.00% meaning that from every SELL order on the ABC, 15.00% 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: 7 day(s), meaning that eligible voters will have 7 day(s) to vote on a proposal.
- Delegated Voting Period is set for 5 day(s), meaning that Delegates will have 5 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: 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 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 14 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: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Goldilocks' $1 bet for $1 mil to Advance Token Engineering
What is the overall Commons Configuration strategy?
This is a fork of $1 Gambit for $1,000,000 Goldilocks Fast Orogeny
The original proposal that was forked was merging of The Bolshevik's Gambit fork with Lower Min. Quorum #72's Token Thaw and Tao Voting (with a few tweaks) and Goldilocks' Million Dollar Entry into Orogeny #71 CV and ABC with a few tweaks
So shout out to Juanka, Angela, Lauren, Mitch, Nate, Zep and Tam who all influenced this config.
This Proposal expects a strong community that can coordinate to pass both Tao Voting and Conviction Voting Proposals. The real things to note about this proposal is the ability to get ~1 million dollars in the Common Pool, the Strategy around the Entry and Exit Tributes, the 5 day Tao Voting period, $1 opening price and the 20% Reserve Ratio.
This proposal has a high entry tribute to act as a minting tax early on, which might dissuade speculators and attract value-aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early, and are happy to fund the Advancement of Token Engineering.
With this strategy, we should change the Tributes every month so that they gradually go from 22% and 2% to 2% and 12% in 5 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. It is important for our long term growth to have a high exit tribute so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community. It also helps us practice our Governance Procedures early on so that we are ready and practiced to actively govern our Commons as a Community.
If we are smart, we will eventually want to set the Entry Tribute to 100% when we reach a decent sized market cap and good liquidity so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve. We might even consider using the funds in the bonding curve to advance token engineering if the Common Pool gets low, and our liquidity is high.
The CV Params are set so that it takes a week to pass any serious proposal with 15-20% of token holders sitting with their tokens behind the proposal, but with a higher Minimum Conviction and faster Conviction Growth and a smaller Spending Limit. This will make the Token holders have to coordinate (without having to talk) to pass proposals.... I can imagine that Transparency/Comms will want to post and Tweet the Passing and Leading proposals that have a lot of voting power behind them every week to aid voters in coordinating around advancing token engineering. :-D
This parameter set is full of round simple numbers and the outcome is “Just Right” as Goldilocks would expect.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 69.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 19.98% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 11.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
By setting the Opening price at $1 we recognize that there are more TEC friends out there that could try to jump in ASAP, but don’t alienate the Hatchers.
A 6 month of Freeze is a reasonable amount of time in crypto to hold tokens.
A year of Thaw means that TEC holder's will be very unlikely to sell their Tokens for a while longer after that 6 months since so little will be available. If they intend to sell they will wait and speculate a bit longer.
If a Hatcher had 10k TEC, they would get ~27.4 TEC liquid every day during that year.
This is "Just Right."
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 0.00% | 1.00 wxDAI |
9 months | 25.00% | 0.75 wxDAI |
1 year | 50.00% | 0.50 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:
Even with a low Reserve (~390k) the Reserve Ratio is at 20% thanks to the $1 Opening Price. This 20% Reserve Ratio allows for the price to grow at a fast rate and give people that crypto token volatility everyone wants... but isn't a DAO casino, not the slightest. The 250k initial buy only changes the price 38 cents. Giving the Hatchers a 38% profit out the gate.
A 5k buy changes the price 1 penny, negligible slippage
A 25k Buy changes the price 3 cents and experiences 1.1% slippage.
This is GREAT! And with the 22% entry tribute, we only need to sell 90k worth of tokens after the initial buy to get ~1 mil in the Common Pool!
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (22%) is extremely high.. but this is more of a tax on minting and the ABC is the only way to get tokens to start so I think it will not dissuade early contributors that are value aligned and if it does we are doing bad marketing on it. Our Comms TEAM rocks! We will sell the token at any Tribute, ICO’s have 100% Tribute
The UI doesn’t show the tributes except in a little question mark.. Check it out at https://convert.tecommons.org/ so if people want to buy tokens to support us and invest in Advancing Token Engineering to make the world a better place, they will just buy the tokens, we don’t have to promote the Tribute in Comms.
Also I assume it will take less than month to put up the Liquidity Pool… so the go to place will be Honeyswap very quickly after launch and the Tributes will really become a minting tax.
That being said, we should invert the Tributes before the Hatchers can sell tokens. If this proposal is chosen the intention is to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 5 months.
If we lower it 4% a month, we only have to sell ~40k worth of tokens every month for it to make sense to mint the token this month instead of waiting to buy next month when the proposal goes through. If we wanted less sharp changes, we can reduce the entry tribute 2% and raise the exit tribute 1% every 2 weeks.
The Reserve Ratio is at a healthy 20% which gives the token price room to grow, but doesn’t give the Hatchers too much Governance power (relative to the people that buy tokens later).
20% is “Just Right.”
Parameter | Value |
---|---|
Commons Tribute | 69.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 19.98% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 870244.26 |
Reserve (Before Initial Buy) | 390979.31 |
Common Pool (After Initial Buy) | 925244.26 |
Reserve (After Initial Buy) | 585979.31 |
TEC Price vs ABC Reserve Holdings
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 | 390979.31 | 1956421.69 | 1.0 | 250000.00 wxDAI | 55000.0 | 164774.18 TEC | 1.38 | 15.50% |
1 | 585979.31 | 2121195.86 | 1.38 | 5000.00 wxDAI | 1100.0 | 2813.85 TEC | 1.39 | 0.27% |
2 | 589879.31 | 2124009.71 | 1.39 | 100000.00 wxDAI | 22000.0 | 53374.42 TEC | 1.53 | 4.91% |
3 | 667879.31 | 2177384.14 | 1.53 | 3000.00 TEC | 1010.22 | 3581.70 wxDAI | 1.53 | 0.28% |
4 | 663287.38 | 2174384.14 | 1.53 | 5000.00 wxDAI | 1100.0 | 2549.01 TEC | 1.53 | 0.23% |
5 | 667187.38 | 2176933.15 | 1.53 | 100000.00 wxDAI | 22000.0 | 48636.24 TEC | 1.68 | 4.37% |
6 | 745187.38 | 2225569.39 | 1.68 | 3000.00 TEC | 1102.82 | 3910.00 wxDAI | 1.67 | 0.27% |
7 | 740174.56 | 2222569.39 | 1.67 | 25000.00 wxDAI | 5500.0 | 11580.23 TEC | 1.7 | 1.04% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 940,367 | 0.05 | 50,048.99 |
50,000 | 1,297,085 | 0.19 | 250,204.91 |
100,000 | 1,489,792 | 0.34 | 500,399.86 |
200,000 | 1,711,133 | 0.58 | 1,000,789.09 |
300,000 | 1,855,557 | 0.81 | 1,501,179.08 |
400,000 | 1,965,362 | 1.02 | 2,001,568.98 |
500,000 | 2,054,988 | 1.22 | 2,501,958.31 |
600,000 | 2,131,244 | 1.41 | 3,002,348.14 |
700,000 | 2,197,921 | 1.59 | 3,502,738.54 |
800,000 | 2,257,363 | 1.77 | 4,003,130.35 |
900,000 | 2,311,128 | 1.95 | 4,503,518.31 |
1,000,000 | 2,360,306 | 2.12 | 5,003,907.70 |
1,250,000 | 2,467,943 | 2.53 | 6,254,885.48 |
1,500,000 | 2,559,523 | 2.93 | 7,505,854.91 |
1,750,000 | 2,639,599 | 3.32 | 8,756,836.38 |
2,000,000 | 2,710,986 | 3.69 | 10,007,806.26 |
2,500,000 | 2,834,615 | 4.41 | 12,509,752.92 |
3,000,000 | 2,939,801 | 5.11 | 15,011,705.26 |
3,500,000 | 3,031,775 | 5.78 | 17,513,655.51 |
4,000,000 | 3,113,768 | 6.43 | 20,015,607.26 |
5,000,000 | 3,255,766 | 7.68 | 25,019,505.30 |
7,500,000 | 3,530,563 | 10.63 | 37,529,243.22 |
10,000,000 | 3,739,489 | 13.38 | 50,039,005.62 |
15,000,000 | 4,055,113 | 18.51 | 75,058,485.87 |
20,000,000 | 4,295,080 | 23.30 | 100,078,017.15 |
50,000,000 | 5,158,189 | 48.50 | 250,195,029.29 |
100,000,000 | 5,924,563 | 84.46 | 500,390,002.30 |
Module 3: Tao Voting
Strategy:
Tao Voting is used for on-chain smart contract decisions, so delegates will be huge and we should really emphasize that, so we can have a 10% quorum no problem, and there is one TECH holder with 9% of the tokens so 10% stops them from passing quorum by themselves.
Given the importance of Tao decisions, we should keep a high consensus requirement of 85%.
The big thing here is that quiet ending period overlaps the delegates voting period so if there is a contentious vote within the Delegates, an extra 2 days can be added so #TECoinstituents have time to change their delegates vote.
A quick-er vote duration means we could wrap up and execute votes within 5.5 days. If there's any contention 2 days are added to the vote so we have ample time for more participation.
A 12 hour minimum execution delay is given even though there is a 3 day quiet ending period so people won't really ever be surprised by an outcome... but still anyone who REALLY cares would never be asleep after the outcome is certain with a 12 hour delay.
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 7 days | 9 days |
Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
Time to Execute a Passing Proposal | 5.5 days | 7.5 days | 9.5 days |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 11% ensuring that we CAN fund 40k-70k proposals if we need to given our large Common Pool. … but really proposals asking for more than 4% of the Common Pool will be pretty hard to pass and should be broken up.
Assuming we have 800k in the funding pool…
29% of the voting tokens can pass a 24k proposal in 3 days.
27% of the voting tokens can pass a 48k proposal in 2 weeks.
And Conviction Growth basically tops off after a month so…
6% of the voting tokens can pass a $8k (1%) proposal after a month.
7% of the voting tokens can pass a $16k (2%) proposal after a month.
8% of the voting tokens can pass a $24k (3%) proposal after a month.
10% of the voting tokens can pass a $32k (4%) proposal after a month.
14% of the voting tokens can pass a $40k (5%) proposal after a month.
20% of the voting tokens can pass a $48k (6%) proposal after a month.
32% of the voting tokens can pass a $56k (7%) proposal after a month.
57% of the voting tokens can pass a $64k (8%) proposal after a month.
A proposal asking for $72k (9%) would not be able to pass.
But also if there is a big push to spend money fast, it is possible to pass proposals asking for 1% of the Common Pool in a day with about 50% of the voting power, and in 3 days we can spend up to 5% of the Common Pool with 50% of the voting power.
Fast is possible... but not too fast... Minority proposals with support can pass eventually, but it doesn't take too long
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 11.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 72599 |
2 | 5,000 | 100,000 | 1,500,000 | 201666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 61481 |
5 | 5,000 | 750,000 | 1,500,000 | 67991 |
6 | 25,000 | 750,000 | 1,500,000 | 123516 |
7 | 8,000 | 800,000 | 1,000,000 | 48399 |
8 | 16,000 | 800,000 | 1,000,000 | 59753 |
9 | 24,000 | 800,000 | 1,000,000 | 75625 |
10 | 35,000 | 800,000 | 1,000,000 | 110274 |
11 | 50,000 | 800,000 | 1,000,000 | 214515 |
12 | 72,000 | 800,000 | 1,000,000 | Not possible |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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 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: 69.00%, which means that 69.00% of the Hatch funds (870244.26 wxDAI) will go to the Common Pool and 31.00% (390979.31 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 22.00% meaning that from every BUY order on the ABC, 22.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 85%, which means 85% 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 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: 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 day(s), meaning that there is an 0.5 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 10 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 11.0%, which means that no more than 11.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Mathmematics V2
What is the overall Commons Configuration strategy?
UPDATE: We noticed our initial price was non-conforming to the way - this could not be! We changed it to 1.47 (147 = 7 * 21) and rose the commons tribute to 63% (79). This leaves the price after the initial buy at 2.08 wxDai (1316!). The rest stays the same...
ORIGINAL:
The universe is vast and unpredictable. Our Commons is taking the bold first steps into a new world brimming with opportunity, but also riddled with risk.
Luckily, we have been given a powerful compass to guide us through uncertainty.
Good and bad. Ying and yang. Luck and misfortune. The wisdom encoded within the numbers 7 and 13 captures the duality of destiny in a way the puny 8 never could. We have followed their lead while designing our commons, and they have made us witness to the pinnacle of paramater design.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 1.47 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 63.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 16.23% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
This carefully chosen paramters set the best possible stage for the first steps of our DAO:
213 weeks where tokens are frozen to protect against bad luck, then 117 weeks thaw to guarantee smooth sailing. Also, since 2+11 is 13 cosmic balance is preserved throughout.
(For the non-believers, this would "just" amount to a 6 month freeze and a 1.5 year thaw)
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 1.47 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% | 1.47 wxDAI |
6 months | 0.00% | 1.47 wxDAI |
9 months | 16.88% | 1.22 wxDAI |
1 year | 33.77% | 0.97 wxDAI |
1.5 years | 67.53% | 0.48 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:
Anything involving smart contracts should only ever be exposed to good fortune, so here we bet on 777 :
7*7 for commons tribute, and the last 7 as the total tribute paid by somebody who completes the cycle of entering and exiting the TEC.
Parameter | Value |
---|---|
Commons Tribute | 63.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 16.23% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 794570.85 |
Reserve (Before Initial Buy) | 466652.72 |
Common Pool (After Initial Buy) | 803320.85 |
Reserve (After Initial Buy) | 707902.72 |
TEC Price vs ABC Reserve Holdings
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 | 466652.72 | 1956421.69 | 1.47 | 250000.00 wxDAI | 8750.0 | 136863.59 TEC | 2.08 | 16.61% |
1 | 707902.72 | 2093285.27 | 2.08 | 5000.00 wxDAI | 175.0 | 2308.50 TEC | 2.1 | 0.28% |
2 | 712727.72 | 2095593.77 | 2.1 | 100000.00 wxDAI | 3500.0 | 43625.59 TEC | 2.33 | 5.24% |
3 | 809227.72 | 2139219.36 | 2.33 | 3000.00 TEC | 243.9 | 6724.78 wxDAI | 2.31 | 0.36% |
4 | 802259.04 | 2136219.36 | 2.31 | 2000.00 TEC | 161.62 | 4456.18 wxDAI | 2.3 | 0.24% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,048,741 | 0.06 | 61,645.00 |
50,000 | 1,361,661 | 0.23 | 308,161.20 |
100,000 | 1,523,746 | 0.40 | 616,306.17 |
200,000 | 1,705,128 | 0.72 | 1,232,596.46 |
300,000 | 1,821,082 | 1.02 | 1,848,887.10 |
400,000 | 1,908,104 | 1.29 | 2,465,179.17 |
500,000 | 1,978,458 | 1.56 | 3,081,469.21 |
600,000 | 2,037,862 | 1.81 | 3,697,763.38 |
700,000 | 2,089,477 | 2.06 | 4,314,052.82 |
800,000 | 2,135,243 | 2.31 | 4,930,340.87 |
900,000 | 2,176,443 | 2.55 | 5,546,631.72 |
1,000,000 | 2,213,971 | 2.78 | 6,162,919.06 |
1,250,000 | 2,295,602 | 3.36 | 7,703,649.53 |
1,500,000 | 2,364,529 | 3.91 | 9,244,381.59 |
1,750,000 | 2,424,418 | 4.45 | 10,785,104.54 |
2,000,000 | 2,477,521 | 4.98 | 12,325,831.39 |
2,500,000 | 2,568,869 | 6.00 | 15,407,277.55 |
3,000,000 | 2,646,001 | 6.99 | 18,488,740.86 |
3,500,000 | 2,713,019 | 7.95 | 21,570,202.80 |
4,000,000 | 2,772,443 | 8.89 | 24,651,655.78 |
5,000,000 | 2,874,666 | 10.72 | 30,814,554.60 |
7,500,000 | 3,070,154 | 15.06 | 46,221,832.23 |
10,000,000 | 3,216,864 | 19.16 | 61,629,076.00 |
15,000,000 | 3,435,623 | 26.91 | 92,443,702.83 |
20,000,000 | 3,599,799 | 34.24 | 123,258,249.09 |
50,000,000 | 4,176,844 | 73.77 | 308,145,464.46 |
100,000,000 | 4,674,054 | 131.85 | 616,291,224.20 |
Module 3: Tao Voting
Strategy:
Without a doubt, a 7*13 % required support is the perfect metaphor to capture the viscitudes of on-chain governance.
The voting process shall involve 7 days, to adequately ponder weighty decisions.
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 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 | 7 days | 10 days | 13 days |
Time to Review a Delegates Vote | 3 days | 6 days | 9 days |
Time to Execute a Passing Proposal | 8 days | 11 days | 14 days |
Module 4: Conviction Voting
Strategy:
Again, the numbers give us the perfect answer: A spending limit of 7 + 13 % , which will allow to capture opportunity while fending off bankrupcy.
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 66481 |
2 | 5,000 | 100,000 | 1,500,000 | 106666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 60808 |
5 | 5,000 | 750,000 | 1,500,000 | 64209 |
6 | 25,000 | 750,000 | 1,500,000 | 86400 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 77 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 77 weeks later.
- Opening Price: 1.47 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.47 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 63.00%, which means that 63.00% of the Hatch funds (794570.85 wxDAI) will go to the Common Pool and 37.00% (466652.72 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.50% meaning that from every BUY order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 3.50% meaning that from every SELL order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 91%, which means 91% 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: 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: 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 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Goldilocks' $1 bet for $1 mil to Advance Token Engineering
What is the overall Commons Configuration strategy?
This is a fork of $1 Gambit for $1,000,000 Goldilocks Fast Orogeny
The original proposal that was forked was merging of The Bolshevik's Gambit fork with Lower Min. Quorum #72's Token Thaw and Tao Voting (with a few tweaks) and Goldilocks' Million Dollar Entry into Orogeny #71 CV and ABC with a few tweaks
So shout out to Juanka, Angela, Lauren, Mitch, Nate, Zep and Tam who all influenced this config.
This Proposal expects a strong community that can coordinate to pass both Tao Voting and Conviction Voting Proposals. The real things to note about this proposal is the ability to get ~1 million dollars in the Common Pool, the Strategy around the Entry and Exit Tributes, the 5 day Tao Voting period, $1 opening price and the 20% Reserve Ratio.
This proposal has a high entry tribute to act as a minting tax early on, which might dissuade speculators and attract value-aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early, and are happy to fund the Advancement of Token Engineering.
With this strategy, we should change the Tributes every month so that they gradually go from 22% and 2% to 2% and 12% in 5 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. It is important for our long term growth to have a high exit tribute so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community. It also helps us practice our Governance Procedures early on so that we are ready and practiced to actively govern our Commons as a Community.
If we are smart, we will eventually want to set the Entry Tribute to 100% when we reach a decent sized market cap and good liquidity so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve. We might even consider using the funds in the bonding curve to advance token engineering if the Common Pool gets low, and our liquidity is high.
The CV Params are set so that it takes a week to pass any serious proposal with 15-20% of token holders sitting with their tokens behind the proposal, but with a higher Minimum Conviction and faster Conviction Growth and a smaller Spending Limit. This will make the Token holders have to coordinate (without having to talk) to pass proposals.... I can imagine that Transparency/Comms will want to post and Tweet the Passing and Leading proposals that have a lot of voting power behind them every week to aid voters in coordinating around advancing token engineering. :-D
This parameter set is full of round simple numbers and the outcome is “Just Right” as Goldilocks would expect.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 69.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 19.98% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 11.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
By setting the Opening price at $1 we recognize that there are more TEC friends out there that could try to jump in ASAP, but don’t alienate the Hatchers.
A 6 month of Freeze is a reasonable amount of time in crypto to hold tokens.
A year of Thaw means that TEC holder's will be very unlikely to sell their Tokens for a while longer after that 6 months since so little will be available. If they intend to sell they will wait and speculate a bit longer.
If a Hatcher had 10k TEC, they would get ~27.4 TEC liquid every day during that year.
This is "Just Right."
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 0.00% | 1.00 wxDAI |
9 months | 25.00% | 0.75 wxDAI |
1 year | 50.00% | 0.50 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:
Even with a low Reserve (~390k) the Reserve Ratio is at 20% thanks to the $1 Opening Price. This 20% Reserve Ratio allows for the price to grow at a fast rate and give people that crypto token volatility everyone wants... but isn't a DAO casino, not the slightest. The 250k initial buy only changes the price 38 cents. Giving the Hatchers a 38% profit out the gate.
A 5k buy changes the price 1 penny, negligible slippage
A 25k Buy changes the price 3 cents and experiences 1.1% slippage.
This is GREAT! And with the 22% entry tribute, we only need to sell 90k worth of tokens after the initial buy to get ~1 mil in the Common Pool!
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (22%) is extremely high.. but this is more of a tax on minting and the ABC is the only way to get tokens to start so I think it will not dissuade early contributors that are value aligned and if it does we are doing bad marketing on it. Our Comms TEAM rocks! We will sell the token at any Tribute, ICO’s have 100% Tribute
The UI doesn’t show the tributes except in a little question mark.. Check it out at https://convert.tecommons.org/ so if people want to buy tokens to support us and invest in Advancing Token Engineering to make the world a better place, they will just buy the tokens, we don’t have to promote the Tribute in Comms.
Also I assume it will take less than month to put up the Liquidity Pool… so the go to place will be Honeyswap very quickly after launch and the Tributes will really become a minting tax.
That being said, we should invert the Tributes before the Hatchers can sell tokens. If this proposal is chosen the intention is to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 5 months.
If we lower it 4% a month, we only have to sell ~40k worth of tokens every month for it to make sense to mint the token this month instead of waiting to buy next month when the proposal goes through. If we wanted less sharp changes, we can reduce the entry tribute 2% and raise the exit tribute 1% every 2 weeks.
The Reserve Ratio is at a healthy 20% which gives the token price room to grow, but doesn’t give the Hatchers too much Governance power (relative to the people that buy tokens later).
20% is “Just Right.”
Parameter | Value |
---|---|
Commons Tribute | 69.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 19.98% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 870244.26 |
Reserve (Before Initial Buy) | 390979.31 |
Common Pool (After Initial Buy) | 925244.26 |
Reserve (After Initial Buy) | 585979.31 |
TEC Price vs ABC Reserve Holdings
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 | 390979.31 | 1956421.69 | 1.0 | 250000.00 wxDAI | 55000.0 | 164774.18 TEC | 1.38 | 15.50% |
1 | 585979.31 | 2121195.86 | 1.38 | 5000.00 wxDAI | 1100.0 | 2813.85 TEC | 1.39 | 0.27% |
2 | 589879.31 | 2124009.71 | 1.39 | 100000.00 wxDAI | 22000.0 | 53374.42 TEC | 1.53 | 4.91% |
3 | 667879.31 | 2177384.14 | 1.53 | 3000.00 TEC | 1010.22 | 3581.70 wxDAI | 1.53 | 0.28% |
4 | 663287.38 | 2174384.14 | 1.53 | 25000.00 wxDAI | 5500.0 | 12627.33 TEC | 1.56 | 1.16% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 940,367 | 0.05 | 50,048.99 |
50,000 | 1,297,085 | 0.19 | 250,204.91 |
100,000 | 1,489,792 | 0.34 | 500,399.86 |
200,000 | 1,711,133 | 0.58 | 1,000,789.09 |
300,000 | 1,855,557 | 0.81 | 1,501,179.08 |
400,000 | 1,965,362 | 1.02 | 2,001,568.98 |
500,000 | 2,054,988 | 1.22 | 2,501,958.31 |
600,000 | 2,131,244 | 1.41 | 3,002,348.14 |
700,000 | 2,197,921 | 1.59 | 3,502,738.54 |
800,000 | 2,257,363 | 1.77 | 4,003,130.35 |
900,000 | 2,311,128 | 1.95 | 4,503,518.31 |
1,000,000 | 2,360,306 | 2.12 | 5,003,907.70 |
1,250,000 | 2,467,943 | 2.53 | 6,254,885.48 |
1,500,000 | 2,559,523 | 2.93 | 7,505,854.91 |
1,750,000 | 2,639,599 | 3.32 | 8,756,836.38 |
2,000,000 | 2,710,986 | 3.69 | 10,007,806.26 |
2,500,000 | 2,834,615 | 4.41 | 12,509,752.92 |
3,000,000 | 2,939,801 | 5.11 | 15,011,705.26 |
3,500,000 | 3,031,775 | 5.78 | 17,513,655.51 |
4,000,000 | 3,113,768 | 6.43 | 20,015,607.26 |
5,000,000 | 3,255,766 | 7.68 | 25,019,505.30 |
7,500,000 | 3,530,563 | 10.63 | 37,529,243.22 |
10,000,000 | 3,739,489 | 13.38 | 50,039,005.62 |
15,000,000 | 4,055,113 | 18.51 | 75,058,485.87 |
20,000,000 | 4,295,080 | 23.30 | 100,078,017.15 |
50,000,000 | 5,158,189 | 48.50 | 250,195,029.29 |
100,000,000 | 5,924,563 | 84.46 | 500,390,002.30 |
Module 3: Tao Voting
Strategy:
Tao Voting is used for on-chain smart contract decisions, so delegates will be huge and we should really emphasize that, so we can have a 10% quorum no problem, and there is one TECH holder with 9% of the tokens so 10% stops them from passing quorum by themselves.
Given the importance of Tao decisions, we should keep a high consensus requirement of 85%.
The big thing here is that quiet ending period overlaps the delegates voting period so if there is a contentious vote within the Delegates, an extra 2 days can be added so #TECoinstituents have time to change their delegates vote.
A quick-er vote duration means we could wrap up and execute votes within 5.5 days. If there's any contention 2 days are added to the vote so we have ample time for more participation.
A 12 hour minimum execution delay is given even though there is a 3 day quiet ending period so people won't really ever be surprised by an outcome... but still anyone who REALLY cares would never be asleep after the outcome is certain with a 12 hour delay.
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 7 days | 9 days |
Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
Time to Execute a Passing Proposal | 5.5 days | 7.5 days | 9.5 days |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 11% ensuring that we CAN fund 40k-70k proposals if we need to given our large Common Pool. … but really proposals asking for more than 4% of the Common Pool will be pretty hard to pass and should be broken up.
Assuming we have 800k in the funding pool…
29% of the voting tokens can pass a 24k proposal in 3 days.
27% of the voting tokens can pass a 48k proposal in 2 weeks.
And Conviction Growth basically tops off after a month so…
6% of the voting tokens can pass a $8k (1%) proposal after a month.
7% of the voting tokens can pass a $16k (2%) proposal after a month.
8% of the voting tokens can pass a $24k (3%) proposal after a month.
10% of the voting tokens can pass a $32k (4%) proposal after a month.
14% of the voting tokens can pass a $40k (5%) proposal after a month.
20% of the voting tokens can pass a $48k (6%) proposal after a month.
32% of the voting tokens can pass a $56k (7%) proposal after a month.
57% of the voting tokens can pass a $64k (8%) proposal after a month.
A proposal asking for $72k (9%) would not be able to pass.
But also if there is a big push to spend money fast, it is possible to pass proposals asking for 1% of the Common Pool in a day with about 50% of the voting power, and in 3 days we can spend up to 5% of the Common Pool with 50% of the voting power.
Fast is possible... but not too fast... Minority proposals with support can pass eventually, but it doesn't take too long
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 11.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 72599 |
2 | 5,000 | 100,000 | 1,500,000 | 201666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 61481 |
5 | 5,000 | 750,000 | 1,500,000 | 67991 |
6 | 25,000 | 750,000 | 1,500,000 | 123516 |
7 | 8,000 | 800,000 | 1,000,000 | 48399 |
8 | 16,000 | 800,000 | 1,000,000 | 59753 |
9 | 24,000 | 800,000 | 1,000,000 | 75625 |
10 | 35,000 | 800,000 | 1,000,000 | 110274 |
11 | 50,000 | 800,000 | 1,000,000 | 214515 |
12 | 72,000 | 800,000 | 1,000,000 | Not possible |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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 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: 69.00%, which means that 69.00% of the Hatch funds (870244.26 wxDAI) will go to the Common Pool and 31.00% (390979.31 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 22.00% meaning that from every BUY order on the ABC, 22.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 85%, which means 85% 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 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: 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 day(s), meaning that there is an 0.5 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 10 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 11.0%, which means that no more than 11.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
The Bolshevik's Gambit fork with Revolutionary Opening Price
What is the overall Commons Configuration strategy?
This is not a proposal for the weak willed.
We are charting out into new territories of ideology, coalescing into forms of governance and economics. We have rallied a strong community around our cause with our Trusted Seed. We should be confident in our cultural build to guide us to where we need to go without imposing technical red tape on our primary revolutionaries.
We have to recognize that the TEC at launch will not be same force as it will be in 6 months. We can expect to expand and mature with time and our post-launch settings will adjust to reflect our evolution. I have outlined envisioned changes in this proposal.
A low opening price reduces the sell pressure once we go post token freeze, likely adhering hatcher's to our mission rather than salivating like wild beasts over the token price. However newcomers will want to take part and the buy pressure with such a low opening price will be considerable. with an ample entry tribute we can hope to secure a further amount of funding, while slightly dissuading sells.
Tao Voting and Conviction Voting is reasonably agile, which is what any radical movement needs. We can hope to adjust our settings as our Commons cools off post-revolution.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 70.00% |
Entry Tribute | 8.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.34% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6 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) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 8 day(s) |
Minimum Conviction | 8.0% |
Spending Limit | 18.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Revolutions happen quickly. We have supreme confidence in our plan to create an amazing Commons and generate value. 3 months Freeze is a reasonable amount of time in crypto to hold tokens. That being said, a year of Thaw means that TEC holder's will be very unikely to sell their Tokens for a while since so little will be available. If they intend to sell they will wait and speculate a bit longer.
Taking this into consideration as well we have to "Trust" our trusted seed. These Hatchers are not likely to sell en masse anyway unless we really mess up.
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 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 | 1.92% | 0.98 wxDAI |
6 months | 26.92% | 0.73 wxDAI |
9 months | 51.92% | 0.48 wxDAI |
1 year | 76.92% | 0.23 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:
We're coming to realize we'll need a good chunk of money to kick-start our vision and to adequately reward contributors and fund WGs and projects. This leaves us well over 800k to ignite the revolution.
A low opening price is fine because Hatcher's are true believers in the cause, in the collective well being of the Commons and spreading its ideology. Even with a low initial balance the reserve ratio is at a healthy amount, this means that as our supply grows we can count of having lower amounts of price slippage
Strong tributes in the beginning will test the resolve of our new revolutionistas and penalize the feeble-willed who abandon our cause early. By having higher tributes we can hope to capture additional funding from the hype train generated by the Commons Upgrade.
Once our revolution is successful and our provisional government is established we can put our Tao Voting parameters to the test by lowering the tributes to healthier economic levels (3, 3). I envision this happening within 3-6 months.
Parameter | Value |
---|---|
Commons Tribute | 70.00% |
Entry Tribute | 8.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.34% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 882856.50 |
Reserve (Before Initial Buy) | 378367.07 |
Common Pool (After Initial Buy) | 902856.50 |
Reserve (After Initial Buy) | 608367.07 |
TEC Price vs ABC Reserve Holdings
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 | 378367.07 | 1956421.69 | 1.0 | 250000.00 wxDAI | 20000.0 | 188202.31 TEC | 1.47 | 18.17% |
1 | 608367.07 | 2144624.0 | 1.47 | 5000.00 wxDAI | 400.0 | 3126.61 TEC | 1.48 | 0.30% |
2 | 612967.07 | 2147750.61 | 1.48 | 100000.00 wxDAI | 8000.0 | 58877.81 TEC | 1.65 | 5.56% |
3 | 704967.07 | 2206628.42 | 1.65 | 3000.00 TEC | 395.34 | 4546.39 wxDAI | 1.64 | 0.28% |
4 | 700025.34 | 2203628.42 | 1.64 | 2000.00 TEC | 262.31 | 3016.62 wxDAI | 1.64 | 0.19% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 968,981 | 0.05 | 51,717.70 |
50,000 | 1,322,758 | 0.20 | 258,545.47 |
100,000 | 1,512,506 | 0.34 | 517,080.03 |
200,000 | 1,729,477 | 0.60 | 1,034,149.49 |
300,000 | 1,870,553 | 0.83 | 1,551,219.10 |
400,000 | 1,977,574 | 1.05 | 2,068,289.62 |
500,000 | 2,064,785 | 1.25 | 2,585,357.59 |
600,000 | 2,138,889 | 1.45 | 3,102,426.15 |
700,000 | 2,203,614 | 1.64 | 3,619,495.45 |
800,000 | 2,261,263 | 1.83 | 4,136,568.61 |
900,000 | 2,313,363 | 2.01 | 4,653,636.67 |
1,000,000 | 2,360,984 | 2.19 | 5,170,707.02 |
1,250,000 | 2,465,104 | 2.62 | 6,463,380.51 |
1,500,000 | 2,553,575 | 3.04 | 7,756,051.99 |
1,750,000 | 2,630,850 | 3.44 | 9,048,730.89 |
2,000,000 | 2,699,675 | 3.83 | 10,341,405.52 |
2,500,000 | 2,818,731 | 4.59 | 12,926,751.69 |
3,000,000 | 2,919,894 | 5.31 | 15,512,096.71 |
3,500,000 | 3,008,253 | 6.02 | 18,097,449.37 |
4,000,000 | 3,086,952 | 6.70 | 20,682,792.17 |
5,000,000 | 3,223,087 | 8.02 | 25,853,493.31 |
7,500,000 | 3,486,002 | 11.12 | 38,780,218.79 |
10,000,000 | 3,685,449 | 14.03 | 51,706,956.23 |
15,000,000 | 3,986,081 | 19.46 | 77,560,445.52 |
20,000,000 | 4,214,139 | 24.54 | 103,413,904.40 |
50,000,000 | 5,031,176 | 51.39 | 258,534,777.65 |
100,000,000 | 5,752,915 | 89.88 | 517,069,709.39 |
Module 3: Tao Voting
Strategy:
Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made!
A quick-er vote duration means we could wrap up and execute votes within one week. If there's any contention we add ample time for more participation.
A greater execution delay however allows our economy's participants to react to any potential changes to its configuration before being implemented.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6 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 | 6 days | 9 days | 12 days |
Time to Review a Delegates Vote | 3 days | 6 days | 9 days |
Time to Execute a Passing Proposal | 7 days | 10 days | 13 days |
Module 4: Conviction Voting
Strategy:
With these settings we can use the considerable muscle contained in our Common Pool to kick-start projects and disburse funding without too much hassle. Once we have set projects well on their way and our new Commons' economy has stabilized we can reduce the Spending Limit to a conservative 12-13%
Parameter | Value |
---|---|
Conviction Growth | 8 day(s) |
Minimum Conviction | 8.0% |
Spending Limit | 18.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 134532 |
2 | 5,000 | 100,000 | 1,500,000 | 230059 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 121797 |
5 | 5,000 | 750,000 | 1,500,000 | 129408 |
6 | 25,000 | 750,000 | 1,500,000 | 180743 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 12 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 12 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: 70.00%, which means that 70.00% of the Hatch funds (882856.50 wxDAI) will go to the Common Pool and 30.00% (378367.07 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 8.00% meaning that from every BUY order on the ABC, 8.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 10.00% meaning that from every SELL order on the ABC, 10.00% 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: 6 day(s), meaning that eligible voters will have 6 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: 8 day(s), meaning that voting power will increase by 50% every 8 days that they are staked behind a proposal, so after 12 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 8.0%, this means that to pass any funding request it will take at least 8.0% of the actively voting TEC tokens.
- The Spending Limit: 18.0%, which means that no more than 18.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
1 Million Dollar Entry into Orogeny corrected Descriptions!
What is the overall Commons Configuration strategy?
This is an exaggerated version of the Entry into Orogeny proposal (shout out to Nate!) and is somewhat inspired by Zep's DAO Casino and Tam's push for a high Common Pool.
The real things to note about this proposal is the >1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, and the low Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 26% and 0% to 2% and 12% in 6 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a 40 Mil Market Cap so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.4 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 11.51% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 100 day(s) |
Minimum Conviction | 0.6% |
Spending Limit | 15.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Considering the decent profit off the bat (40% / 111%) and the low reserve ratio which 2.75 years for the tokens to unlock seems fine. 9 months to get the economy going, 2 year after that to slowly vest... if someone had 10,000 tokens from the Hatch they would get about ~14 tokens a day.
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.4 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% | 1.40 wxDAI |
6 months | 0.00% | 1.40 wxDAI |
9 months | 0.00% | 1.40 wxDAI |
1 year | 11.54% | 1.24 wxDAI |
1.5 years | 36.54% | 0.89 wxDAI |
2 years | 61.54% | 0.54 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:
The Commons Tribute and Entry Tribute are set so that there is about ~1 mil in the Common Pool after the initial buy.
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (26%) 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 if this proposal is chosen we should plan to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 6 months.
This proposal has a low Reserve Ratio so that we can have high profitability for it to make sense to speculate despite the high entry tribute.
If we lower it 4% a month... we only have to sell ~40k worth of tokens every month for it to make sense to speculate on the token. I think this is very doable.
The Reserve Ratio is low but it's not a DAO Casino and with a long lockup we have a long time to grow beyond the Hatch.
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 11.51% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 1010917.68 |
Reserve (After Initial Buy) | 500305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.4 | 250000.00 wxDAI | 65000.0 | 106790.74 TEC | 2.11 | 19.19% |
1 | 500305.89 | 2063212.43 | 2.11 | 5000.00 wxDAI | 1300.0 | 1750.79 TEC | 2.12 | 0.33% |
2 | 504005.89 | 2064963.22 | 2.12 | 100000.00 wxDAI | 26000.0 | 32823.98 TEC | 2.39 | 5.95% |
3 | 578005.89 | 2097787.2 | 2.39 | 3000.00 TEC | 1856.68 | 5284.41 wxDAI | 2.37 | 0.55% |
4 | 570864.8 | 2094787.2 | 2.37 | 35000.00 wxDAI | 9100.0 | 10727.22 TEC | 2.46 | 1.95% |
5 | 596764.8 | 2105514.41 | 2.46 | 38000.00 wxDAI | 9880.0 | 11189.91 TEC | 2.56 | 2.03% |
6 | 624884.8 | 2116704.33 | 2.56 | 41000.00 wxDAI | 10660.0 | 11584.23 TEC | 2.67 | 2.08% |
7 | 655224.8 | 2128288.56 | 2.67 | 43000.00 wxDAI | 11180.0 | 11650.10 TEC | 2.79 | 2.09% |
8 | 687044.8 | 2139938.66 | 2.79 | 750000.00 wxDAI | 195000.0 | 150950.41 TEC | 4.71 | 24.15% |
9 | 1242044.8 | 2290889.07 | 4.71 | 1000000.00 wxDAI | 260000.0 | 126631.54 TEC | 7.12 | 19.41% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,315,077 | 0.07 | 86,900.81 |
50,000 | 1,582,704 | 0.27 | 434,371.69 |
100,000 | 1,714,160 | 0.51 | 868,707.89 |
200,000 | 1,856,540 | 0.94 | 1,737,386.62 |
300,000 | 1,945,250 | 1.34 | 2,606,064.92 |
400,000 | 2,010,748 | 1.73 | 3,474,737.22 |
500,000 | 2,063,069 | 2.11 | 4,343,415.90 |
600,000 | 2,106,826 | 2.47 | 5,212,084.93 |
700,000 | 2,144,547 | 2.84 | 6,080,770.61 |
800,000 | 2,177,766 | 3.19 | 6,949,437.54 |
900,000 | 2,207,496 | 3.54 | 7,818,120.22 |
1,000,000 | 2,234,433 | 3.89 | 8,686,783.20 |
1,250,000 | 2,292,574 | 4.74 | 10,858,475.03 |
1,500,000 | 2,341,200 | 5.57 | 13,030,172.69 |
1,750,000 | 2,383,116 | 6.38 | 15,201,872.94 |
2,000,000 | 2,420,032 | 7.18 | 17,373,576.11 |
2,500,000 | 2,483,002 | 8.75 | 21,716,904.95 |
3,000,000 | 2,535,667 | 10.28 | 26,060,301.70 |
3,500,000 | 2,581,065 | 11.78 | 30,403,650.88 |
4,000,000 | 2,621,048 | 13.26 | 34,747,104.21 |
5,000,000 | 2,689,248 | 16.15 | 43,433,861.15 |
7,500,000 | 2,817,748 | 23.12 | 65,150,810.68 |
10,000,000 | 2,912,626 | 29.82 | 86,867,551.73 |
15,000,000 | 3,051,799 | 42.70 | 130,301,503.62 |
20,000,000 | 3,154,559 | 55.07 | 173,735,385.74 |
50,000,000 | 3,505,488 | 123.90 | 434,338,431.11 |
100,000,000 | 3,796,665 | 228.80 | 868,676,110.23 |
Module 3: Tao Voting
Strategy:
The Tao Voting parameters provide a voting system that requires a high amount of support (80%), and a moderate quorum (10%) of participation.... this is almost the same as our HatchDAO but higher quorum because we have delegation and lower support required because we are now an open community, not just the Trusted Seed.
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.
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 15% ensuring that we can fund 50k-80k proposals if we need to given our large Common Pool. The rest of the settings were inspired by Nate's Orogeny params with a low Minimum Conviction (.6%) and high Conviction Growth (100 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.
I think these parameters could be explored more.
Parameter | Value |
---|---|
Conviction Growth | 100 day(s) |
Minimum Conviction | 0.6% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 10331 |
2 | 5,000 | 100,000 | 1,500,000 | 20250 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 9162 |
5 | 5,000 | 750,000 | 1,500,000 | 9856 |
6 | 25,000 | 750,000 | 1,500,000 | 14877 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 40 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 40 weeks. They can still be used to vote while frozen.
- Token Thaw: 104 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 104 weeks later.
- Opening Price: 1.4 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.4 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 26.00% meaning that from every BUY order on the ABC, 26.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.00% meaning that from every SELL order on the ABC, 0.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 80%, which means 80% 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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 100 day(s), meaning that voting power will increase by 50% every 100 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: 0.6%, this means that to pass any funding request it will take at least 0.6% 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.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 2.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
The Bolshevik's Gambit fork with Lower Min. Quorum
What is the overall Commons Configuration strategy?
This is not a proposal for the weak willed.
We are charting out into new territories of ideology, coalescing into forms of governance and economics. We have rallied a strong community around our cause with our Trusted Seed. We should be confident in our cultural build to guide us to where we need to go without imposing technical red tape on our primary revolutionaries.
We have to recognize that the TEC at launch will not be same force as it will be in 6 months. We can expect to expand and mature with time and our post-launch settings will adjust to reflect our evolution. I have outlined envisioned changes in this proposal.
A low opening price reduces the sell pressure once we go post token freeze, likely adhering hatcher's to our mission rather than salivating like wild beasts over the token price. However newcomers will want to take part and the buy pressure with such a low opening price will be considerable. with an ample entry tribute we can hope to secure a further amount of funding, while slightly dissuading sells.
Tao Voting and Conviction Voting is reasonably agile, which is what any radical movement needs. We can hope to adjust our settings as our Commons cools off post-revolution.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.07 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 67.70% |
Entry Tribute | 7.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.46% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
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 | 2 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 8 day(s) |
Minimum Conviction | 8.0% |
Spending Limit | 18.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Revolutions happen quickly. We have supreme confidence in our plan to create an amazing Commons and generate value. 3 months Freeze is a reasonable amount of time in crypto to hold tokens. That being said, a year of Thaw means that TEC holder's will be very unikely to sell their Tokens for a while since so little will be available. If they intend to sell they will wait and speculate a bit longer.
Taking this into consideration as well we have to "Trust" our trusted seed. These Hatchers are not likely to sell en masse anyway unless we really mess up.
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.07 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 | 1.92% | 1.05 wxDAI |
6 months | 26.92% | 0.78 wxDAI |
9 months | 51.92% | 0.51 wxDAI |
1 year | 76.92% | 0.25 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:
We're coming to realize we'll need a good chunk of money to kick-start our vision and to adequately reward contributors and fund WGs and projects. This leaves us well over 800k to ignite the revolution.
A low opening price is fine because Hatcher's are true believers in the cause, in the collective well being of the Commons and spreading its ideology. Even with a low initial balance the reserve ratio is at a healthy amount, this means that as our supply grows we can count of having lower amounts of price slippage
Strong tributes in the beginning will test the resolve of our new revolutionistas and penalize the feeble-willed who abandon our cause early. By having higher tributes we can hope to capture additional funding from the hype train generated by the Commons Upgrade.
Once our revolution is successful and our provisional government is established we can put our Tao Voting parameters to the test by lowering the tributes to healthier economic levels (3, 3). I envision this happening within 3-6 months.
Parameter | Value |
---|---|
Commons Tribute | 67.70% |
Entry Tribute | 7.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.46% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 853848.36 |
Reserve (Before Initial Buy) | 407375.21 |
Common Pool (After Initial Buy) | 871348.36 |
Reserve (After Initial Buy) | 639875.21 |
TEC Price vs ABC Reserve Holdings
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 | 407375.21 | 1956421.69 | 1.07 | 250000.00 wxDAI | 17500.0 | 179690.94 TEC | 1.54 | 17.30% |
1 | 639875.21 | 2136112.62 | 1.54 | 5000.00 wxDAI | 350.0 | 3012.06 TEC | 1.55 | 0.29% |
2 | 644525.21 | 2139124.68 | 1.55 | 100000.00 wxDAI | 7000.0 | 56851.05 TEC | 1.73 | 5.35% |
3 | 737525.21 | 2195975.73 | 1.73 | 3000.00 TEC | 361.4 | 4801.51 wxDAI | 1.72 | 0.28% |
4 | 732362.3 | 2192975.73 | 1.72 | 2000.00 TEC | 239.8 | 3185.94 wxDAI | 1.71 | 0.19% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 950,979 | 0.05 | 51,397.38 |
50,000 | 1,300,703 | 0.20 | 256,944.42 |
100,000 | 1,488,530 | 0.35 | 513,877.95 |
200,000 | 1,703,484 | 0.60 | 1,027,746.49 |
300,000 | 1,843,340 | 0.84 | 1,541,614.75 |
400,000 | 1,949,480 | 1.05 | 2,055,482.25 |
500,000 | 2,035,999 | 1.26 | 2,569,348.13 |
600,000 | 2,109,533 | 1.46 | 3,083,217.79 |
700,000 | 2,173,774 | 1.65 | 3,597,084.16 |
800,000 | 2,231,001 | 1.84 | 4,110,952.97 |
900,000 | 2,282,728 | 2.03 | 4,624,821.51 |
1,000,000 | 2,330,015 | 2.21 | 5,138,690.05 |
1,250,000 | 2,433,423 | 2.64 | 6,423,361.23 |
1,500,000 | 2,521,311 | 3.06 | 7,708,031.62 |
1,750,000 | 2,598,091 | 3.46 | 8,992,698.15 |
2,000,000 | 2,666,489 | 3.85 | 10,277,368.83 |
2,500,000 | 2,784,830 | 4.61 | 12,846,711.68 |
3,000,000 | 2,885,410 | 5.34 | 15,416,051.51 |
3,500,000 | 2,973,278 | 6.05 | 17,985,391.13 |
4,000,000 | 3,051,553 | 6.74 | 20,554,728.64 |
5,000,000 | 3,186,983 | 8.06 | 25,693,401.45 |
7,500,000 | 3,448,638 | 11.18 | 38,540,116.87 |
10,000,000 | 3,647,211 | 14.09 | 51,386,803.09 |
15,000,000 | 3,946,651 | 19.53 | 77,080,216.39 |
20,000,000 | 4,173,901 | 24.62 | 102,773,592.03 |
50,000,000 | 4,988,641 | 51.50 | 256,933,939.63 |
100,000,000 | 5,709,044 | 90.01 | 513,868,051.61 |
Module 3: Tao Voting
Strategy:
Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made!
A quick-er vote duration means we could wrap up and execute votes within one week. If there's any contention we add ample time for more participation.
A greater execution delay however allows our economy's participants to react to any potential changes to its configuration before being implemented.
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 | 2 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 | 7 days | 10 days | 13 days |
Module 4: Conviction Voting
Strategy:
With these settings we can use the considerable muscle contained in our Common Pool to kick-start projects and disburse funding without too much hassle. Once we have set projects well on their way and our new Commons' economy has stabilized we can reduce the Spending Limit to a conservative 12-13%
Parameter | Value |
---|---|
Conviction Growth | 8 day(s) |
Minimum Conviction | 8.0% |
Spending Limit | 18.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 134532 |
2 | 5,000 | 100,000 | 1,500,000 | 230059 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 121797 |
5 | 5,000 | 750,000 | 1,500,000 | 129408 |
6 | 25,000 | 750,000 | 1,500,000 | 180743 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 12 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 12 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: 1.07 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.07 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 67.70%, which means that 67.70% of the Hatch funds (853848.36 wxDAI) will go to the Common Pool and 32.30% (407375.21 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 7.00% meaning that from every BUY order on the ABC, 7.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 10.00% meaning that from every SELL order on the ABC, 10.00% 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: 2 day(s), meaning that there is an 2 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 8 day(s), meaning that voting power will increase by 50% every 8 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: 8.0%, this means that to pass any funding request it will take at least 8.0% of the actively voting TEC tokens.
- The Spending Limit: 18.0%, which means that no more than 18.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
1 Million Dollar Entry into Orogeny with Better CV
What is the overall Commons Configuration strategy?
This is an exaggerated version of the Entry into Orogeny proposal (shout out to Nate!) and is somewhat inspired by Zep's DAO Casino and Tam's push for a high Common Pool.
The real things to note about this proposal is the >1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, and the low Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 26% and 0% to 2% and 12% in 6 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a 40 Mil Market Cap so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.4 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 11.51% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 70 day(s) |
Minimum Conviction | 0.9000000000000001% |
Spending Limit | 15.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Considering the decent profit off the bat (40% / 111%) and the low reserve ratio which 2.75 years for the tokens to unlock seems fine. 9 months to get the economy going, 2 years after that to slowly vest... if someone had 10,000 tokens from the Hatch they would get about ~14 tokens a day.
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.4 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% | 1.40 wxDAI |
6 months | 0.00% | 1.40 wxDAI |
9 months | 0.00% | 1.40 wxDAI |
1 year | 11.54% | 1.24 wxDAI |
1.5 years | 36.54% | 0.89 wxDAI |
2 years | 61.54% | 0.54 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:
The Commons Tribute and Entry Tribute are set so that there is about ~1 mil in the Common Pool after the initial buy.
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (26%) 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 if this proposal is chosen we should plan to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 6 months.
This proposal has a low Reserve Ratio so that we can have high profitability for it to make sense to speculate despite the high entry tribute.
If we lower it 4% a month... we only have to sell ~40k worth of tokens every month for it to make sense to speculate on the token. I think this is very doable.
The Reserve Ratio is low but it's not a DAO Casino and with a long lockup we have a long time to grow beyond the Hatch.
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 11.51% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 1010917.68 |
Reserve (After Initial Buy) | 500305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.4 | 250000.00 wxDAI | 65000.0 | 106790.74 TEC | 2.11 | 19.19% |
1 | 500305.89 | 2063212.43 | 2.11 | 5000.00 wxDAI | 1300.0 | 1750.79 TEC | 2.12 | 0.33% |
2 | 504005.89 | 2064963.22 | 2.12 | 100000.00 wxDAI | 26000.0 | 32823.98 TEC | 2.39 | 5.95% |
3 | 578005.89 | 2097787.2 | 2.39 | 3000.00 TEC | 1856.68 | 5284.41 wxDAI | 2.37 | 0.55% |
4 | 570864.8 | 2094787.2 | 2.37 | 35000.00 wxDAI | 9100.0 | 10727.22 TEC | 2.46 | 1.95% |
5 | 596764.8 | 2105514.41 | 2.46 | 38000.00 wxDAI | 9880.0 | 11189.91 TEC | 2.56 | 2.03% |
6 | 624884.8 | 2116704.33 | 2.56 | 41000.00 wxDAI | 10660.0 | 11584.23 TEC | 2.67 | 2.08% |
7 | 655224.8 | 2128288.56 | 2.67 | 43000.00 wxDAI | 11180.0 | 11650.10 TEC | 2.79 | 2.09% |
8 | 687044.8 | 2139938.66 | 2.79 | 750000.00 wxDAI | 195000.0 | 150950.41 TEC | 4.71 | 24.15% |
9 | 1242044.8 | 2290889.07 | 4.71 | 1000000.00 wxDAI | 260000.0 | 126631.54 TEC | 7.12 | 19.41% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,315,077 | 0.07 | 86,900.81 |
50,000 | 1,582,704 | 0.27 | 434,371.69 |
100,000 | 1,714,160 | 0.51 | 868,707.89 |
200,000 | 1,856,540 | 0.94 | 1,737,386.62 |
300,000 | 1,945,250 | 1.34 | 2,606,064.92 |
400,000 | 2,010,748 | 1.73 | 3,474,737.22 |
500,000 | 2,063,069 | 2.11 | 4,343,415.90 |
600,000 | 2,106,826 | 2.47 | 5,212,084.93 |
700,000 | 2,144,547 | 2.84 | 6,080,770.61 |
800,000 | 2,177,766 | 3.19 | 6,949,437.54 |
900,000 | 2,207,496 | 3.54 | 7,818,120.22 |
1,000,000 | 2,234,433 | 3.89 | 8,686,783.20 |
1,250,000 | 2,292,574 | 4.74 | 10,858,475.03 |
1,500,000 | 2,341,200 | 5.57 | 13,030,172.69 |
1,750,000 | 2,383,116 | 6.38 | 15,201,872.94 |
2,000,000 | 2,420,032 | 7.18 | 17,373,576.11 |
2,500,000 | 2,483,002 | 8.75 | 21,716,904.95 |
3,000,000 | 2,535,667 | 10.28 | 26,060,301.70 |
3,500,000 | 2,581,065 | 11.78 | 30,403,650.88 |
4,000,000 | 2,621,048 | 13.26 | 34,747,104.21 |
5,000,000 | 2,689,248 | 16.15 | 43,433,861.15 |
7,500,000 | 2,817,748 | 23.12 | 65,150,810.68 |
10,000,000 | 2,912,626 | 29.82 | 86,867,551.73 |
15,000,000 | 3,051,799 | 42.70 | 130,301,503.62 |
20,000,000 | 3,154,559 | 55.07 | 173,735,385.74 |
50,000,000 | 3,505,488 | 123.90 | 434,338,431.11 |
100,000,000 | 3,796,665 | 228.80 | 868,676,110.23 |
Module 3: Tao Voting
Strategy:
The Tao Voting parameters provide a voting system that requires a high amount of support (80%), and a moderate quorum (10%) of participation.... this is almost the same as our HatchDAO but higher quorum because we have delegation and lower support required because we are now an open community, not just the Trusted Seed.
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.
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 15% ensuring that we can fund 50k-80k proposals if we need to given our large Common Pool. The rest of the settings were inspired by Nate's Orogeny params with a low Minimum Conviction (.6%) and high Conviction Growth (100 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.
I think these parameters could be explored more.
Parameter | Value |
---|---|
Conviction Growth | 70 day(s) |
Minimum Conviction | 0.9000000000000001% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 15497 |
2 | 5,000 | 100,000 | 1,500,000 | 30375 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 13743 |
5 | 5,000 | 750,000 | 1,500,000 | 14785 |
6 | 25,000 | 750,000 | 1,500,000 | 22316 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 40 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 40 weeks. They can still be used to vote while frozen.
- Token Thaw: 104 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 104 weeks later.
- Opening Price: 1.4 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.4 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 26.00% meaning that from every BUY order on the ABC, 26.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.00% meaning that from every SELL order on the ABC, 0.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 80%, which means 80% 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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 70 day(s), meaning that voting power will increase by 50% every 70 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: 0.9000000000000001%, this means that to pass any funding request it will take at least 0.9000000000000001% 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.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 2.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
I don't about you, but I'm feeling 32
What is the overall Commons Configuration strategy?
I wanted to try something a little different. Make the opening price as high as I see reasonably possible, and preserve a reserve ratio of about 22%. Higher cumulative entry & exit tributes to fill up the Common Pool with more funds from speculation. Low token freeze so that Hatchers can take advantage of some profit & still fill up our Commons Pool. Also, this is a great meme and a great song to play during params presentations. https://www.youtube.com/watch?v=AgFeZr5ptV8
)FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 32 Weeks |
Token Thaw | 32 Weeks |
Opening Price | 1.32 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 32.00% |
Entry Tribute | 32.00% |
Exit Tribute | 3.20% |
*Reserve Ratio | 33.21% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 32 day(s) |
Minimum Conviction | 1.32% |
Spending Limit | 18.32% |
Module 1: Token Freeze and Token Thaw
Strategy:
There is a 32% of profit on the opening price. Just little 32 weeks of initial total frozen vesting to take care of the Hatchers! They can sell a little' make a little profit, but with a RR of 32, there's still not too much TEC volatility.
Parameter | Value |
---|---|
Token Freeze | 32 Weeks |
Token Thaw | 32 Weeks |
Opening Price | 1.32 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% | 1.32 wxDAI |
6 months | 0.00% | 1.32 wxDAI |
9 months | 21.88% | 1.03 wxDAI |
1 year | 62.50% | 0.49 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:
32% Commons Tribute - yes, relatively low, but we're compensating with high cumulative entry & exit tribute.
Here's the plan: start out with entry high and exit low... so speculators taking advantage of the price floor are filling the common pool. ALSO with the initial buy, we boost the common pool with an extra 80k right off the bat.
THEN, nearing the end of the token freeze, we vote to swap the entry and exit tributes... so have the exit tribute 32% and the entry at 3.2%... so Hatchers can benefit from profitting off the higher token price and low volatility but are a prohibitted slightly from quitting a large amount... and feel good about paying the little extra to the support the TEC Common pool.
Parameter | Value |
---|---|
Commons Tribute | 32.00% |
Entry Tribute | 32.00% |
Exit Tribute | 3.20% |
*Reserve Ratio | 33.21% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 403591.54 |
Reserve (Before Initial Buy) | 857632.03 |
Common Pool (After Initial Buy) | 483591.54 |
Reserve (After Initial Buy) | 1027632.03 |
TEC Price vs ABC Reserve Holdings
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 | 857632.03 | 1956421.69 | 1.32 | 250000.00 wxDAI | 80000.0 | 121093.61 TEC | 1.49 | 5.97% |
1 | 1027632.03 | 2077515.29 | 1.49 | 5000.00 wxDAI | 1600.0 | 2280.19 TEC | 1.49 | 0.11% |
2 | 1031032.03 | 2079795.48 | 1.49 | 100000.00 wxDAI | 32000.0 | 44585.44 TEC | 1.56 | 2.13% |
3 | 1099032.03 | 2124380.92 | 1.56 | 3000.00 TEC | 1493.37 | 3173.41 wxDAI | 1.55 | 0.14% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 446,102 | 0.07 | 30,114.69 |
50,000 | 761,286 | 0.20 | 150,561.49 |
100,000 | 958,336 | 0.31 | 301,120.03 |
200,000 | 1,206,391 | 0.50 | 602,236.97 |
300,000 | 1,380,280 | 0.65 | 903,353.95 |
400,000 | 1,518,654 | 0.79 | 1,204,471.21 |
500,000 | 1,635,469 | 0.92 | 1,505,588.38 |
600,000 | 1,737,552 | 1.04 | 1,806,704.89 |
700,000 | 1,828,819 | 1.15 | 2,107,822.19 |
800,000 | 1,911,744 | 1.26 | 2,408,939.65 |
900,000 | 1,988,004 | 1.36 | 2,710,056.01 |
1,000,000 | 2,058,795 | 1.46 | 3,011,173.49 |
1,250,000 | 2,217,158 | 1.70 | 3,763,965.59 |
1,500,000 | 2,355,550 | 1.92 | 4,516,758.35 |
1,750,000 | 2,479,278 | 2.13 | 5,269,551.14 |
2,000,000 | 2,591,696 | 2.32 | 6,022,343.78 |
2,500,000 | 2,791,050 | 2.70 | 7,527,929.26 |
3,000,000 | 2,965,264 | 3.05 | 9,033,514.43 |
3,500,000 | 3,121,018 | 3.38 | 10,539,100.15 |
4,000,000 | 3,262,535 | 3.69 | 12,044,684.78 |
5,000,000 | 3,513,489 | 4.29 | 15,055,856.62 |
7,500,000 | 4,019,925 | 5.62 | 22,583,784.88 |
10,000,000 | 4,422,927 | 6.81 | 30,111,711.00 |
15,000,000 | 5,060,449 | 8.93 | 45,167,562.77 |
20,000,000 | 5,567,764 | 10.82 | 60,223,415.67 |
50,000,000 | 7,548,060 | 19.95 | 150,558,545.22 |
100,000,000 | 9,501,812 | 31.69 | 301,117,081.54 |
Module 3: Tao Voting
Strategy:
Quiet ending is 3 + 2. On meme & also these are the best TV params.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days | 11 days |
Time to Review a Delegates Vote | 3 days | 5 days | 7 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
Cv is inspired on no vesting but following the 32 meme :D
Parameter | Value |
---|---|
Conviction Growth | 32 day(s) |
Minimum Conviction | 1.32% |
Spending Limit | 18.32% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 22152 |
2 | 5,000 | 100,000 | 1,500,000 | 37454 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 20091 |
5 | 5,000 | 750,000 | 1,500,000 | 21323 |
6 | 25,000 | 750,000 | 1,500,000 | 29587 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 32 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 32 weeks. They can still be used to vote while frozen.
- Token Thaw: 32 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 32 weeks later.
- Opening Price: 1.32 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.32 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 32.00%, which means that 32.00% of the Hatch funds (403591.54 wxDAI) will go to the Common Pool and 68.00% (857632.03 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 32.00% meaning that from every BUY order on the ABC, 32.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 3.20% meaning that from every SELL order on the ABC, 3.20% 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: 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: 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: 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 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: 32 day(s), meaning that voting power will increase by 50% every 32 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: 1.32%, this means that to pass any funding request it will take at least 1.32% of the actively voting TEC tokens.
- The Spending Limit: 18.32%, which means that no more than 18.32% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | False |
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
FORK THIS PROPOSAL (link)
Griff's BrightDAO proposal #1
What is the overall Commons Configuration strategy?
BRIGHT TO THE MOON!
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 30 Weeks |
Token Thaw | 100 Weeks |
Opening Price | 1.65 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 50.00% |
Entry Tribute | 3.00% |
Exit Tribute | 15.00% |
*Reserve Ratio | 19.54% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 6.0% |
Spending Limit | 3.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Parameter | Value |
---|---|
Token Freeze | 30 Weeks |
Token Thaw | 100 Weeks |
Opening Price | 1.65 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% | 1.65 wxDAI |
6 months | 0.00% | 1.65 wxDAI |
9 months | 9.00% | 1.50 wxDAI |
1 year | 22.00% | 1.29 wxDAI |
1.5 years | 48.00% | 0.86 wxDAI |
2 years | 74.00% | 0.43 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:
Parameter | Value |
---|---|
Commons Tribute | 50.00% |
Entry Tribute | 3.00% |
Exit Tribute | 15.00% |
*Reserve Ratio | 19.54% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 630611.79 |
Reserve (Before Initial Buy) | 630611.79 |
Common Pool (After Initial Buy) | 638111.79 |
Reserve (After Initial Buy) | 873111.79 |
TEC Price vs ABC Reserve Holdings
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 | 630611.79 | 1956421.69 | 1.65 | 250000.00 wxDAI | 7500.0 | 128391.21 TEC | 2.14 | 12.64% |
1 | 873111.79 | 2084812.89 | 2.14 | 5000.00 wxDAI | 150.0 | 2257.28 TEC | 2.15 | 0.22% |
2 | 877961.79 | 2087070.18 | 2.15 | 100000.00 wxDAI | 3000.0 | 43166.53 TEC | 2.34 | 4.17% |
3 | 974961.78 | 2130236.7 | 2.34 | 3000.00 TEC | 210.25 | 6797.94 wxDAI | 2.33 | 0.29% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 870,752 | 0.06 | 51,200.36 |
50,000 | 1,192,409 | 0.21 | 255,960.03 |
100,000 | 1,365,305 | 0.37 | 511,908.98 |
200,000 | 1,563,275 | 0.65 | 1,023,807.59 |
300,000 | 1,692,134 | 0.91 | 1,535,705.65 |
400,000 | 1,789,953 | 1.14 | 2,047,605.15 |
500,000 | 1,869,704 | 1.37 | 2,559,502.77 |
600,000 | 1,937,497 | 1.59 | 3,071,404.58 |
700,000 | 1,996,729 | 1.79 | 3,583,302.66 |
800,000 | 2,049,500 | 2.00 | 4,095,202.36 |
900,000 | 2,097,203 | 2.20 | 4,607,100.92 |
1,000,000 | 2,140,816 | 2.39 | 5,118,997.50 |
1,250,000 | 2,236,200 | 2.86 | 6,398,742.84 |
1,500,000 | 2,317,282 | 3.31 | 7,678,490.97 |
1,750,000 | 2,388,124 | 3.75 | 8,958,240.86 |
2,000,000 | 2,451,239 | 4.18 | 10,237,987.18 |
2,500,000 | 2,560,455 | 5.00 | 12,797,480.38 |
3,000,000 | 2,653,293 | 5.79 | 15,356,973.16 |
3,500,000 | 2,734,409 | 6.55 | 17,916,475.04 |
4,000,000 | 2,806,675 | 7.30 | 20,475,963.70 |
5,000,000 | 2,931,728 | 8.73 | 25,594,954.44 |
7,500,000 | 3,173,388 | 12.10 | 38,392,421.53 |
10,000,000 | 3,356,836 | 15.25 | 51,189,882.87 |
15,000,000 | 3,633,538 | 21.13 | 76,784,851.68 |
20,000,000 | 3,843,586 | 26.64 | 102,379,780.64 |
50,000,000 | 4,597,002 | 55.68 | 255,949,497.12 |
100,000,000 | 5,263,579 | 97.25 | 511,898,898.94 |
Module 3: Tao Voting
Strategy:
I like 5 day voting period
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 7 days | 9 days |
Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
Time to Execute a Passing Proposal | 5.5 days | 7.5 days | 9.5 days |
Module 4: Conviction Voting
Strategy:
Lets not spend too much money
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 6.0% |
Spending Limit | 3.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 202500 |
2 | 5,000 | 100,000 | 1,500,000 | Not possible |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 98566 |
5 | 5,000 | 750,000 | 1,500,000 | 148775 |
6 | 25,000 | 750,000 | 1,500,000 | Not possible |
7 | 1 | 9,733,760 | 1,000,000 | 60000 |
8 | 10,000 | 9,733,760.95 | 1,000,000 | 64330 |
9 | 30,000 | 9,733,760.95 | 1,000,000 | 74526 |
10 | 90,000 | 9,733,760.95 | 1,000,000 | 125371 |
11 | 150,000 | 9,733,760.95 | 1,000,000 | 253688 |
12 | 500,000 | 9,733,760.95 | 1,000,000 | Not possible |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 30 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 30 weeks. They can still be used to vote while frozen.
- Token Thaw: 100 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 100 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.
Augmented Bonding Curve (ABC)
- Commons Tribute: 50.00%, which means that 50.00% of the Hatch funds (630611.79 wxDAI) will go to the Common Pool and 50.00% (630611.79 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.00% meaning that from every BUY order on the ABC, 3.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 15.00% meaning that from every SELL order on the ABC, 15.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 85%, which means 85% 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 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: 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 day(s), meaning that there is an 0.5 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 10 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 6.0%, this means that to pass any funding request it will take at least 6.0% of the actively voting TEC tokens.
- The Spending Limit: 3.0%, which means that no more than 3.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
The casino with the long floor and big volumes
What is the overall Commons Configuration strategy?
Incentivize volume and participation through potential price growth. Fund the pools through volume volatility trading.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 13 Weeks |
Token Thaw | 108 Weeks |
Opening Price | 0.42 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 90.00% |
Entry Tribute | 12.50% |
Exit Tribute | 9.75% |
*Reserve Ratio | 15.35% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 6 day(s) |
Quiet Ending Period | 1 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 3.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Short freeze, long thaw, high entry trib, low exit. "Contribute to the commons with your buy-in because you want to empower engineers to create. Don't like what you're seeing after a while? Feel free to leave with little pain. It's not a rage-quit after all. We just agree to disagree. =)
Parameter | Value |
---|---|
Token Freeze | 13 Weeks |
Token Thaw | 108 Weeks |
Opening Price | 0.42 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% | 0.42 wxDAI |
6 months | 12.04% | 0.37 wxDAI |
9 months | 24.07% | 0.32 wxDAI |
1 year | 36.11% | 0.27 wxDAI |
1.5 years | 60.19% | 0.17 wxDAI |
2 years | 84.26% | 0.07 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:
The value of the token will be high as long as we have funds in the common pool so 95% of the funds are going to be governed by the token holders and the bonding curve will be a casino where people can make a lot of money and fund TE public goods
Parameter | Value |
---|---|
Commons Tribute | 90.00% |
Entry Tribute | 12.50% |
Exit Tribute | 9.75% |
*Reserve Ratio | 15.35% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 1135101.21 |
Reserve (Before Initial Buy) | 126122.36 |
Common Pool (After Initial Buy) | 1166351.21 |
Reserve (After Initial Buy) | 344872.36 |
TEC Price vs ABC Reserve Holdings
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 | 126122.36 | 1956421.69 | 0.42 | 250000.00 wxDAI | 31250.0 | 326637.20 TEC | 0.98 | 37.29% |
1 | 344872.36 | 2283058.89 | 0.98 | 5000.00 wxDAI | 625.0 | 4421.78 TEC | 0.99 | 0.53% |
2 | 349247.36 | 2287480.67 | 0.99 | 100000.00 wxDAI | 12500.0 | 79860.68 TEC | 1.2 | 9.21% |
3 | 436747.36 | 2367341.35 | 1.2 | 3000.00 TEC | 449.16 | 3144.13 wxDAI | 1.19 | 0.35% |
4 | 433154.06 | 2364341.35 | 1.19 | 5000.00 wxDAI | 625.0 | 3649.87 TEC | 1.2 | 0.42% |
5 | 437529.06 | 2367991.21 | 1.2 | 100000.00 wxDAI | 12500.0 | 67198.97 TEC | 1.4 | 7.55% |
6 | 525029.06 | 2435190.18 | 1.4 | 3000.00 TEC | 524.96 | 3674.72 wxDAI | 1.4 | 0.34% |
7 | 520829.38 | 2432190.18 | 1.4 | 1.00 TEC | 0.17 | 1.22 wxDAI | 1.4 | 0.00% |
8 | 520827.99 | 2432189.18 | 1.4 | 10000.00 wxDAI | 1250.0 | 6227.65 TEC | 1.41 | 0.70% |
9 | 529577.99 | 2438416.83 | 1.41 | 20000.00 wxDAI | 2500.0 | 12198.37 TEC | 1.45 | 1.37% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,325,928 | 0.05 | 65,168.60 |
50,000 | 1,697,424 | 0.19 | 325,771.45 |
100,000 | 1,887,964 | 0.35 | 651,525.57 |
200,000 | 2,099,897 | 0.62 | 1,303,033.21 |
300,000 | 2,234,734 | 0.87 | 1,954,540.92 |
400,000 | 2,335,622 | 1.12 | 2,606,045.17 |
500,000 | 2,417,003 | 1.35 | 3,257,552.82 |
600,000 | 2,485,597 | 1.57 | 3,909,064.85 |
700,000 | 2,545,108 | 1.79 | 4,560,569.09 |
800,000 | 2,597,810 | 2.01 | 5,212,073.30 |
900,000 | 2,645,202 | 2.22 | 5,863,582.74 |
1,000,000 | 2,688,327 | 2.42 | 6,515,087.33 |
1,250,000 | 2,781,998 | 2.93 | 8,143,862.63 |
1,500,000 | 2,860,950 | 3.42 | 9,772,628.07 |
1,750,000 | 2,929,449 | 3.89 | 11,401,391.00 |
2,000,000 | 2,990,110 | 4.36 | 13,030,171.33 |
2,500,000 | 3,094,296 | 5.26 | 16,287,698.69 |
3,000,000 | 3,182,111 | 6.14 | 19,545,237.07 |
3,500,000 | 3,258,300 | 7.00 | 22,802,775.86 |
4,000,000 | 3,325,770 | 7.84 | 26,060,325.68 |
5,000,000 | 3,441,652 | 9.47 | 32,575,396.66 |
7,500,000 | 3,662,648 | 13.34 | 48,863,092.40 |
10,000,000 | 3,828,001 | 17.02 | 65,150,786.44 |
15,000,000 | 4,073,806 | 23.99 | 97,726,153.61 |
20,000,000 | 4,257,720 | 30.60 | 130,301,480.38 |
50,000,000 | 4,900,688 | 66.47 | 325,753,953.12 |
100,000,000 | 5,450,823 | 119.52 | 651,507,637.46 |
Module 3: Tao Voting
Strategy:
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 6 day(s) |
Quiet Ending Period | 1 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 | 7 days | 10 days | 13 days |
Time to Review a Delegates Vote | 1 days | 4 days | 7 days |
Time to Execute a Passing Proposal | 8 days | 11 days | 14 days |
Module 4: Conviction Voting
Strategy:
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 1.0% |
Spending Limit | 3.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 33750 |
2 | 5,000 | 100,000 | 1,500,000 | Not possible |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 16427 |
5 | 5,000 | 750,000 | 1,500,000 | 24795 |
6 | 25,000 | 750,000 | 1,500,000 | Not possible |
7 | 15,000 | 1,500,000 | 10,000 | 225 |
8 | 7,500 | 1,500,000 | 200,000 | 2880 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 108 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 108 weeks later.
- Opening Price: 0.42 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 0.42 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 90.00%, which means that 90.00% of the Hatch funds (1135101.21 wxDAI) will go to the Common Pool and 10.00% (126122.36 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 12.50% meaning that from every BUY order on the ABC, 12.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 9.75% meaning that from every SELL order on the ABC, 9.75% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 85%, which means 85% 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 6 day(s), meaning that Delegates will have 6 day(s) to use their delegated voting power to vote on a proposal.
- Quiet Ending Period: 1 day(s), this means that 1 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 3.0%, which means that no more than 3.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 250 wxDAI |
Challenge Deposit | 500 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
1 Million Dollar Entry into Orogeny
What is the overall Commons Configuration strategy?
This is an exaggerated version of the Entry into Orogeny proposal (shout out to Nate!) and is somewhat inspired by Zep's DAO Casino and Tam's push for a high Common Pool.
The real things to note about this proposal is the >1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, and the low Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 26% and 0% to 2% and 12% in 6 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a 40 Mil Market Cap so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.4 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 11.51% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 100 day(s) |
Minimum Conviction | 0.6% |
Spending Limit | 15.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Considering the decent profit off the bat (40% / 111%) and the low reserve ratio which 2.75 years for the tokens to unlock seems fine. 9 months to get the economy going, 1 year after that to slowly vest... if someone had 10,000 tokens from the Hatch they would get about ~14 tokens a day.
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.4 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% | 1.40 wxDAI |
6 months | 0.00% | 1.40 wxDAI |
9 months | 0.00% | 1.40 wxDAI |
1 year | 11.54% | 1.24 wxDAI |
1.5 years | 36.54% | 0.89 wxDAI |
2 years | 61.54% | 0.54 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:
The Commons Tribute and Entry Tribute are set so that there is about ~1 mil in the Common Pool after the initial buy.
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (26%) 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 if this proposal is chosen we should plan to reduce the entry tribute 4% and raise the entry tribute 2% every month until the tributes end up as 2% entry and 12% exit after 6 months.
This proposal has a low Reserve Ratio so that we can have high profitability for it to make sense to speculate despite the high entry tribute.
If we lower it 4% a month... we only have to sell ~40k worth of tokens every month for it to make sense to speculate on the token. I think this is very doable.
The Reserve Ratio is low but it's not a DAO Casino and with a long lockup we have a long time to grow beyond the Hatch.
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 11.51% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 1010917.68 |
Reserve (After Initial Buy) | 500305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.4 | 250000.00 wxDAI | 65000.0 | 106790.74 TEC | 2.11 | 19.19% |
1 | 500305.89 | 2063212.43 | 2.11 | 5000.00 wxDAI | 1300.0 | 1750.79 TEC | 2.12 | 0.33% |
2 | 504005.89 | 2064963.22 | 2.12 | 100000.00 wxDAI | 26000.0 | 32823.98 TEC | 2.39 | 5.95% |
3 | 578005.89 | 2097787.2 | 2.39 | 3000.00 TEC | 1856.68 | 5284.41 wxDAI | 2.37 | 0.55% |
4 | 570864.8 | 2094787.2 | 2.37 | 35000.00 wxDAI | 9100.0 | 10727.22 TEC | 2.46 | 1.95% |
5 | 596764.8 | 2105514.41 | 2.46 | 38000.00 wxDAI | 9880.0 | 11189.91 TEC | 2.56 | 2.03% |
6 | 624884.8 | 2116704.33 | 2.56 | 41000.00 wxDAI | 10660.0 | 11584.23 TEC | 2.67 | 2.08% |
7 | 655224.8 | 2128288.56 | 2.67 | 43000.00 wxDAI | 11180.0 | 11650.10 TEC | 2.79 | 2.09% |
8 | 687044.8 | 2139938.66 | 2.79 | 750000.00 wxDAI | 195000.0 | 150950.41 TEC | 4.71 | 24.15% |
9 | 1242044.8 | 2290889.07 | 4.71 | 1000000.00 wxDAI | 260000.0 | 126631.54 TEC | 7.12 | 19.41% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,315,077 | 0.07 | 86,900.81 |
50,000 | 1,582,704 | 0.27 | 434,371.69 |
100,000 | 1,714,160 | 0.51 | 868,707.89 |
200,000 | 1,856,540 | 0.94 | 1,737,386.62 |
300,000 | 1,945,250 | 1.34 | 2,606,064.92 |
400,000 | 2,010,748 | 1.73 | 3,474,737.22 |
500,000 | 2,063,069 | 2.11 | 4,343,415.90 |
600,000 | 2,106,826 | 2.47 | 5,212,084.93 |
700,000 | 2,144,547 | 2.84 | 6,080,770.61 |
800,000 | 2,177,766 | 3.19 | 6,949,437.54 |
900,000 | 2,207,496 | 3.54 | 7,818,120.22 |
1,000,000 | 2,234,433 | 3.89 | 8,686,783.20 |
1,250,000 | 2,292,574 | 4.74 | 10,858,475.03 |
1,500,000 | 2,341,200 | 5.57 | 13,030,172.69 |
1,750,000 | 2,383,116 | 6.38 | 15,201,872.94 |
2,000,000 | 2,420,032 | 7.18 | 17,373,576.11 |
2,500,000 | 2,483,002 | 8.75 | 21,716,904.95 |
3,000,000 | 2,535,667 | 10.28 | 26,060,301.70 |
3,500,000 | 2,581,065 | 11.78 | 30,403,650.88 |
4,000,000 | 2,621,048 | 13.26 | 34,747,104.21 |
5,000,000 | 2,689,248 | 16.15 | 43,433,861.15 |
7,500,000 | 2,817,748 | 23.12 | 65,150,810.68 |
10,000,000 | 2,912,626 | 29.82 | 86,867,551.73 |
15,000,000 | 3,051,799 | 42.70 | 130,301,503.62 |
20,000,000 | 3,154,559 | 55.07 | 173,735,385.74 |
50,000,000 | 3,505,488 | 123.90 | 434,338,431.11 |
100,000,000 | 3,796,665 | 228.80 | 868,676,110.23 |
Module 3: Tao Voting
Strategy:
The Tao Voting parameters provide a voting system that requires a high amount of support (80%), and a moderate quorum (10%) of participation.... this is almost the same as our HatchDAO but higher quorum because we have delegation and lower support required because we are now an open community, not just the Trusted Seed.
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.
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 15% ensuring that we can fund 50k-80k proposals if we need to given our large Common Pool. The rest of the settings were inspired by Nate's Orogeny params with a low Minimum Conviction (.6%) and high Conviction Growth (100 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.
I think these parameters could be explored more.
Parameter | Value |
---|---|
Conviction Growth | 100 day(s) |
Minimum Conviction | 0.6% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 10331 |
2 | 5,000 | 100,000 | 1,500,000 | 20250 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 9162 |
5 | 5,000 | 750,000 | 1,500,000 | 9856 |
6 | 25,000 | 750,000 | 1,500,000 | 14877 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 40 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 40 weeks. They can still be used to vote while frozen.
- Token Thaw: 104 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 104 weeks later.
- Opening Price: 1.4 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.4 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 26.00% meaning that from every BUY order on the ABC, 26.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.00% meaning that from every SELL order on the ABC, 0.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 80%, which means 80% 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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 100 day(s), meaning that voting power will increase by 50% every 100 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: 0.6%, this means that to pass any funding request it will take at least 0.6% 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.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 2.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
The Bolshevik's Gambit
What is the overall Commons Configuration strategy?
This is not a proposal for the weak willed.
We are charting out into new territories of ideology, coalescing into forms of governance and economics. We have rallied a strong community around our cause with our Trusted Seed. We should be confident in our cultural build to guide us to where we need to go without imposing technical red tape on our primary revolutionaries.
We have to recognize that the TEC at launch will not be same force as it will be in 6 months. We can expect to expand and mature with time and our post-launch settings will adjust to reflect our evolution. I have outlined envisioned changes in this proposal.
A low opening price reduces the sell pressure once we go post token freeze, likely adhering hatcher's to our mission rather than salivating like wild beasts over the token price. However newcomers will want to take part and the buy pressure with such a low opening price will be considerable. with an ample entry tribute we can hope to secure a further amount of funding, while slightly dissuading sells.
Tao Voting and Conviction Voting is reasonably agile, which is what any radical movement needs. We can hope to adjust our settings as our Commons cools off post-revolution.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.07 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 67.70% |
Entry Tribute | 7.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.46% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 16% |
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 | 2 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 8 day(s) |
Minimum Conviction | 8.0% |
Spending Limit | 18.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Revolutions happen quickly. We have supreme confidence in our plan to create an amazing Commons and generate value. 3 months Freeze is a reasonable amount of time in crypto to hold tokens. That being said, a year of Thaw means that TEC holder's will be very unikely to sell their Tokens for a while since so little will be available. If they intend to sell they will wait and speculate a bit longer.
Taking this into consideration as well we have to "Trust" our trusted seed. These Hatchers are not likely to sell en masse anyway unless we really mess up.
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.07 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 | 1.92% | 1.05 wxDAI |
6 months | 26.92% | 0.78 wxDAI |
9 months | 51.92% | 0.51 wxDAI |
1 year | 76.92% | 0.25 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:
We're coming to realize we'll need a good chunk of money to kick-start our vision and to adequately reward contributors and fund WGs and projects. This leaves us well over 800k to ignite the revolution.
A low opening price is fine because Hatcher's are true believers in the cause, in the collective well being of the Commons and spreading its ideology. Even with a low initial balance the reserve ratio is at a healthy amount, this means that as our supply grows we can count of having lower amounts of price slippage
Strong tributes in the beginning will test the resolve of our new revolutionistas and penalize the feeble-willed who abandon our cause early. By having higher tributes we can hope to capture additional funding from the hype train generated by the Commons Upgrade.
Once our revolution is successful and our provisional government is established we can put our Tao Voting parameters to the test by lowering the tributes to healthier economic levels (3, 3). I envision this happening within 3-6 months.
Parameter | Value |
---|---|
Commons Tribute | 67.70% |
Entry Tribute | 7.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.46% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 853848.36 |
Reserve (Before Initial Buy) | 407375.21 |
Common Pool (After Initial Buy) | 871348.36 |
Reserve (After Initial Buy) | 639875.21 |
TEC Price vs ABC Reserve Holdings
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 | 407375.21 | 1956421.69 | 1.07 | 250000.00 wxDAI | 17500.0 | 179690.94 TEC | 1.54 | 17.30% |
1 | 639875.21 | 2136112.62 | 1.54 | 5000.00 wxDAI | 350.0 | 3012.06 TEC | 1.55 | 0.29% |
2 | 644525.21 | 2139124.68 | 1.55 | 100000.00 wxDAI | 7000.0 | 56851.05 TEC | 1.73 | 5.35% |
3 | 737525.21 | 2195975.73 | 1.73 | 3000.00 TEC | 361.4 | 4801.51 wxDAI | 1.72 | 0.28% |
4 | 732362.3 | 2192975.73 | 1.72 | 2000.00 TEC | 239.8 | 3185.94 wxDAI | 1.71 | 0.19% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 950,979 | 0.05 | 51,397.38 |
50,000 | 1,300,703 | 0.20 | 256,944.42 |
100,000 | 1,488,530 | 0.35 | 513,877.95 |
200,000 | 1,703,484 | 0.60 | 1,027,746.49 |
300,000 | 1,843,340 | 0.84 | 1,541,614.75 |
400,000 | 1,949,480 | 1.05 | 2,055,482.25 |
500,000 | 2,035,999 | 1.26 | 2,569,348.13 |
600,000 | 2,109,533 | 1.46 | 3,083,217.79 |
700,000 | 2,173,774 | 1.65 | 3,597,084.16 |
800,000 | 2,231,001 | 1.84 | 4,110,952.97 |
900,000 | 2,282,728 | 2.03 | 4,624,821.51 |
1,000,000 | 2,330,015 | 2.21 | 5,138,690.05 |
1,250,000 | 2,433,423 | 2.64 | 6,423,361.23 |
1,500,000 | 2,521,311 | 3.06 | 7,708,031.62 |
1,750,000 | 2,598,091 | 3.46 | 8,992,698.15 |
2,000,000 | 2,666,489 | 3.85 | 10,277,368.83 |
2,500,000 | 2,784,830 | 4.61 | 12,846,711.68 |
3,000,000 | 2,885,410 | 5.34 | 15,416,051.51 |
3,500,000 | 2,973,278 | 6.05 | 17,985,391.13 |
4,000,000 | 3,051,553 | 6.74 | 20,554,728.64 |
5,000,000 | 3,186,983 | 8.06 | 25,693,401.45 |
7,500,000 | 3,448,638 | 11.18 | 38,540,116.87 |
10,000,000 | 3,647,211 | 14.09 | 51,386,803.09 |
15,000,000 | 3,946,651 | 19.53 | 77,080,216.39 |
20,000,000 | 4,173,901 | 24.62 | 102,773,592.03 |
50,000,000 | 4,988,641 | 51.50 | 256,933,939.63 |
100,000,000 | 5,709,044 | 90.01 | 513,868,051.61 |
Module 3: Tao Voting
Strategy:
Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made!
A quick-er vote duration means we could wrap up and execute votes within one week. If there's any contention we add ample time for more participation.
A greater execution delay however allows our economy's participants to react to any potential changes to its configuration before being implemented.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 16% |
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 | 2 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 | 7 days | 10 days | 13 days |
Module 4: Conviction Voting
Strategy:
With these settings we can use the considerable muscle contained in our Common Pool to kick-start projects and disburse funding without too much hassle. Once we have set projects well on their way and our new Commons' economy has stabilized we can reduce the Spending Limit to a conservative 12-13%
Parameter | Value |
---|---|
Conviction Growth | 8 day(s) |
Minimum Conviction | 8.0% |
Spending Limit | 18.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 134532 |
2 | 5,000 | 100,000 | 1,500,000 | 230059 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 121797 |
5 | 5,000 | 750,000 | 1,500,000 | 129408 |
6 | 25,000 | 750,000 | 1,500,000 | 180743 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 12 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 12 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: 1.07 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.07 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 67.70%, which means that 67.70% of the Hatch funds (853848.36 wxDAI) will go to the Common Pool and 32.30% (407375.21 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 7.00% meaning that from every BUY order on the ABC, 7.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 10.00% meaning that from every SELL order on the ABC, 10.00% 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: 16%, meaning that 16% 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: 2 day(s), meaning that there is an 2 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 8 day(s), meaning that voting power will increase by 50% every 8 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: 8.0%, this means that to pass any funding request it will take at least 8.0% of the actively voting TEC tokens.
- The Spending Limit: 18.0%, which means that no more than 18.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Mathmematics V3 with 1 MEMILLION COMMON POOL
What is the overall Commons Configuration strategy?
UPDATE FOR V3: Further numerological research revealed that adjusting the initial price to 0.70 and rising the commons tribute to 7 * 12 (therefore adequately courting the number 13 ) allows us to keep this proposal as perfect as it already is and still launch with a common pool of 1 million, to start the TEC off with proper strength.
ORIGINAL:
The universe is vast and unpredictable. Our Commons is taking the bold first steps into a new world brimming with opportunity, but also riddled with risk.
Luckily, we have been given a powerful compass to guide us through uncertainty.
Good and bad. Ying and yang. Luck and misfortune. The wisdom encoded within the numbers 7 and 13 captures the duality of destiny in a way the puny 8 never could. We have followed their lead while designing our commons, and they have made us witness to the pinnacle of paramater design.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 0.7 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 84.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 14.74% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 13.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
This carefully chosen parameters set the best possible stage for the first steps of our DAO:
213 weeks where tokens are frozen to protect against bad luck, then 117 weeks thaw to guarantee smooth sailing. Also, since 2+11 is 13 cosmic balance is preserved throughout.
(For the non-believers, this would "just" amount to a 6 month freeze and a 1.5 year thaw)
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 77 Weeks |
Opening Price | 0.7 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% | 0.70 wxDAI |
6 months | 0.00% | 0.70 wxDAI |
9 months | 16.88% | 0.58 wxDAI |
1 year | 33.77% | 0.46 wxDAI |
1.5 years | 67.53% | 0.23 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:
Anything involving smart contracts should only ever be exposed to good fortune, so here we bet on 7 :
Opening price of .70$, (1.37 after the initial buy), 7* 12 for commons tribute, and the last 7 as the total tribute paid by somebody who completes the cycle of entering and exiting the TEC.
Parameter | Value |
---|---|
Commons Tribute | 84.00% |
Entry Tribute | 3.50% |
Exit Tribute | 3.50% |
*Reserve Ratio | 14.74% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 1059427.80 |
Reserve (Before Initial Buy) | 201795.77 |
Common Pool (After Initial Buy) | 1068177.80 |
Reserve (After Initial Buy) | 443045.77 |
TEC Price vs ABC Reserve Holdings
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 | 201795.77 | 1956421.69 | 0.7 | 250000.00 wxDAI | 8750.0 | 240365.77 TEC | 1.37 | 30.26% |
1 | 443045.77 | 2196787.46 | 1.37 | 5000.00 wxDAI | 175.0 | 3508.98 TEC | 1.38 | 0.46% |
2 | 447870.77 | 2200296.44 | 1.38 | 100000.00 wxDAI | 3500.0 | 64180.91 TEC | 1.63 | 8.12% |
3 | 544370.77 | 2264477.35 | 1.63 | 3000.00 TEC | 170.65 | 4705.00 wxDAI | 1.62 | 0.38% |
4 | 539495.12 | 2261477.35 | 1.62 | 5000.00 wxDAI | 175.0 | 2968.96 TEC | 1.63 | 0.38% |
5 | 544320.12 | 2264446.3 | 1.63 | 100000.00 wxDAI | 3500.0 | 55118.37 TEC | 1.87 | 6.82% |
6 | 640820.12 | 2319564.68 | 1.87 | 3000.00 TEC | 196.13 | 5407.57 wxDAI | 1.86 | 0.37% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,256,613 | 0.05 | 67,884.97 |
50,000 | 1,592,869 | 0.21 | 339,345.91 |
100,000 | 1,764,149 | 0.38 | 678,673.37 |
200,000 | 1,953,850 | 0.69 | 1,357,325.38 |
300,000 | 2,074,140 | 0.98 | 2,035,981.06 |
400,000 | 2,163,952 | 1.25 | 2,714,630.96 |
500,000 | 2,236,287 | 1.52 | 3,393,289.90 |
600,000 | 2,297,178 | 1.77 | 4,071,940.15 |
700,000 | 2,349,954 | 2.02 | 4,750,591.49 |
800,000 | 2,396,649 | 2.27 | 5,429,247.43 |
900,000 | 2,438,607 | 2.50 | 6,107,902.97 |
1,000,000 | 2,476,761 | 2.74 | 6,786,553.53 |
1,250,000 | 2,559,551 | 3.31 | 8,483,189.93 |
1,500,000 | 2,629,246 | 3.87 | 10,179,828.23 |
1,750,000 | 2,689,651 | 4.42 | 11,876,463.31 |
2,000,000 | 2,743,096 | 4.95 | 13,573,085.06 |
2,500,000 | 2,834,789 | 5.99 | 16,966,353.12 |
3,000,000 | 2,911,978 | 6.99 | 20,359,631.45 |
3,500,000 | 2,978,878 | 7.97 | 23,752,884.95 |
4,000,000 | 3,038,070 | 8.94 | 27,146,147.03 |
5,000,000 | 3,139,623 | 10.81 | 33,932,679.80 |
7,500,000 | 3,332,919 | 15.27 | 50,899,066.17 |
10,000,000 | 3,477,238 | 19.52 | 67,865,350.59 |
15,000,000 | 3,691,319 | 27.58 | 101,798,087.48 |
20,000,000 | 3,851,158 | 35.24 | 135,730,703.57 |
50,000,000 | 4,407,862 | 76.98 | 339,326,945.78 |
100,000,000 | 4,881,856 | 139.02 | 678,653,849.71 |
Module 3: Tao Voting
Strategy:
Without a doubt, a 7*13 % required support is the perfect metaphor to capture the viscitudes of on-chain governance.
The voting process shall involve 7 days, to adequately ponder weighty decisions.
Parameter | Value |
---|---|
Support Required | 91% |
Minimum Quorum | 7% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 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 | 7 days | 10 days | 13 days |
Time to Review a Delegates Vote | 3 days | 6 days | 9 days |
Time to Execute a Passing Proposal | 8 days | 11 days | 14 days |
Module 4: Conviction Voting
Strategy:
Fair division: 13% as spending limit and 4+3 for conviction parameters.
Parameter | Value |
---|---|
Conviction Growth | 3 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 13.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 70416 |
2 | 5,000 | 100,000 | 1,500,000 | 158437 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 61249 |
5 | 5,000 | 750,000 | 1,500,000 | 66661 |
6 | 25,000 | 750,000 | 1,500,000 | 108513 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 77 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 77 weeks later.
- Opening Price: 0.7 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 0.7 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 84.00%, which means that 84.00% of the Hatch funds (1059427.80 wxDAI) will go to the Common Pool and 16.00% (201795.77 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.50% meaning that from every BUY order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 3.50% meaning that from every SELL order on the ABC, 3.50% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 91%, which means 91% 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: 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: 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 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: 3 day(s), meaning that voting power will increase by 50% every 3 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: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 13.0%, which means that no more than 13.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Goldilocks' $1 bet for $1 mil to Advance Token Engineering
What is the overall Commons Configuration strategy?
This is a fork of $1 Gambit for $1,000,000 Goldilocks Fast Orogeny
The original proposal that was forked was merging of The Bolshevik's Gambit fork with Lower Min. Quorum #72's Token Thaw and Tao Voting (with a few tweaks) and Goldilocks' Million Dollar Entry into Orogeny #71 CV and ABC with a few tweaks
So shout out to Juanka, Angela, Lauren, Mitch, Nate, Zep and Tam who all influenced this config.
This Proposal expects a strong community that can coordinate to pass both Tao Voting and Conviction Voting Proposals. The real things to note about this proposal is the ability to get ~1 million dollars in the Common Pool, the Strategy around the Entry and Exit Tributes, the 5 day Tao Voting period, $1 opening price and the 20% Reserve Ratio.
This proposal has a high entry tribute to act as a minting tax early on, which might dissuade speculators and attract value-aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early, and are happy to fund the Advancement of Token Engineering.
With this strategy, we should change the Tributes every month so that they gradually go from 22% and 2% to 2% and 12% in 5 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. It is important for our long term growth to have a high exit tribute so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community. It also helps us practice our Governance Procedures early on so that we are ready and practiced to actively govern our Commons as a Community.
If we are smart, we will eventually want to set the Entry Tribute to 100% when we reach a decent sized market cap and good liquidity so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve. We might even consider using the funds in the bonding curve to advance token engineering if the Common Pool gets low, and our liquidity is high.
The CV Params are set so that it takes a week to pass any serious proposal with 15-20% of token holders sitting with their tokens behind the proposal, but with a higher Minimum Conviction and faster Conviction Growth and a smaller Spending Limit. This will make the Token holders have to coordinate (without having to talk) to pass proposals.... I can imagine that Transparency/Comms will want to post and Tweet the Passing and Leading proposals that have a lot of voting power behind them every week to aid voters in coordinating around advancing token engineering. :-D
This parameter set is full of round simple numbers and the outcome is “Just Right” as Goldilocks would expect.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 69.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 19.98% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 11.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
By setting the Opening price at $1 we recognize that there are more TEC friends out there that could try to jump in ASAP, but don’t alienate the Hatchers.
A 6 month of Freeze is a reasonable amount of time in crypto to hold tokens.
A year of Thaw means that TEC holder's will be very unlikely to sell their Tokens for a while longer after that 6 months since so little will be available. If they intend to sell they will wait and speculate a bit longer.
If a Hatcher had 10k TEC, they would get ~27.4 TEC liquid every day during that year.
This is "Just Right."
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 0.00% | 1.00 wxDAI |
9 months | 25.00% | 0.75 wxDAI |
1 year | 50.00% | 0.50 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:
Even with a low Reserve (~390k) the Reserve Ratio is at 20% thanks to the $1 Opening Price. This 20% Reserve Ratio allows for the price to grow at a fast rate and give people that crypto token volatility everyone wants... but isn't a DAO casino, not the slightest. The 250k initial buy only changes the price 38 cents. Giving the Hatchers a 38% profit out the gate.
A 5k buy changes the price 1 penny, negligible slippage
A 25k Buy changes the price 3 cents and experiences 1.1% slippage.
This is GREAT! And with the 22% entry tribute, we only need to sell 90k worth of tokens after the initial buy to get ~1 mil in the Common Pool!
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (22%) is extremely high.. but this is more of a tax on minting and the ABC is the only way to get tokens to start so I think it will not dissuade early contributors that are value aligned and if it does we are doing bad marketing on it. Our Comms TEAM rocks! We will sell the token at any Tribute, ICO’s have 100% Tribute
The UI doesn’t show the tributes except in a little question mark.. Check it out at https://convert.tecommons.org/ so if people want to buy tokens to support us and invest in Advancing Token Engineering to make the world a better place, they will just buy the tokens, we don’t have to promote the Tribute in Comms.
Also I assume it will take less than month to put up the Liquidity Pool… so the go to place will be Honeyswap very quickly after launch and the Tributes will really become a minting tax.
That being said, we should invert the Tributes before the Hatchers can sell tokens. If this proposal is chosen the intention is to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 5 months.
If we lower it 4% a month, we only have to sell ~40k worth of tokens every month for it to make sense to mint the token this month instead of waiting to buy next month when the proposal goes through. If we wanted less sharp changes, we can reduce the entry tribute 2% and raise the exit tribute 1% every 2 weeks.
The Reserve Ratio is at a healthy 20% which gives the token price room to grow, but doesn’t give the Hatchers too much Governance power (relative to the people that buy tokens later).
20% is “Just Right.”
Parameter | Value |
---|---|
Commons Tribute | 69.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 19.98% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 870244.26 |
Reserve (Before Initial Buy) | 390979.31 |
Common Pool (After Initial Buy) | 925244.26 |
Reserve (After Initial Buy) | 585979.31 |
TEC Price vs ABC Reserve Holdings
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 | 390979.31 | 1956421.69 | 1.0 | 250000.00 wxDAI | 55000.0 | 164774.18 TEC | 1.38 | 15.50% |
1 | 585979.31 | 2121195.86 | 1.38 | 5000.00 wxDAI | 1100.0 | 2813.85 TEC | 1.39 | 0.27% |
2 | 589879.31 | 2124009.71 | 1.39 | 100000.00 wxDAI | 22000.0 | 53374.42 TEC | 1.53 | 4.91% |
3 | 667879.31 | 2177384.14 | 1.53 | 3000.00 TEC | 1010.22 | 3581.70 wxDAI | 1.53 | 0.28% |
4 | 663287.38 | 2174384.14 | 1.53 | 5000.00 wxDAI | 1100.0 | 2549.01 TEC | 1.53 | 0.23% |
5 | 667187.38 | 2176933.15 | 1.53 | 100000.00 wxDAI | 22000.0 | 48636.24 TEC | 1.68 | 4.37% |
6 | 745187.38 | 2225569.39 | 1.68 | 3000.00 TEC | 1102.82 | 3910.00 wxDAI | 1.67 | 0.27% |
7 | 740174.56 | 2222569.39 | 1.67 | 25000.00 wxDAI | 5500.0 | 11580.23 TEC | 1.7 | 1.04% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 940,367 | 0.05 | 0.05 |
50,000 | 1,297,085 | 0.19 | 0.19 |
100,000 | 1,489,792 | 0.34 | 0.34 |
200,000 | 1,711,133 | 0.58 | 0.58 |
300,000 | 1,855,557 | 0.81 | 0.81 |
400,000 | 1,965,362 | 1.02 | 1.02 |
500,000 | 2,054,988 | 1.22 | 1.22 |
600,000 | 2,131,244 | 1.41 | 1.41 |
700,000 | 2,197,921 | 1.59 | 1.59 |
800,000 | 2,257,363 | 1.77 | 1.77 |
900,000 | 2,311,128 | 1.95 | 1.95 |
1,000,000 | 2,360,306 | 2.12 | 2.12 |
1,250,000 | 2,467,943 | 2.53 | 2.53 |
1,500,000 | 2,559,523 | 2.93 | 2.93 |
1,750,000 | 2,639,599 | 3.32 | 3.32 |
2,000,000 | 2,710,986 | 3.69 | 3.69 |
2,500,000 | 2,834,615 | 4.41 | 4.41 |
3,000,000 | 2,939,801 | 5.11 | 5.11 |
3,500,000 | 3,031,775 | 5.78 | 5.78 |
4,000,000 | 3,113,768 | 6.43 | 6.43 |
5,000,000 | 3,255,766 | 7.68 | 7.68 |
7,500,000 | 3,530,563 | 10.63 | 10.63 |
10,000,000 | 3,739,489 | 13.38 | 13.38 |
15,000,000 | 4,055,113 | 18.51 | 18.51 |
20,000,000 | 4,295,080 | 23.30 | 23.30 |
50,000,000 | 5,158,189 | 48.50 | 48.50 |
100,000,000 | 5,924,563 | 84.46 | 84.46 |
Module 3: Tao Voting
Strategy:
Tao Voting is used for on-chain smart contract decisions, so delegates will be huge and we should really emphasize that, so we can have a 10% quorum no problem, and there is one TECH holder with 9% of the tokens so 10% stops them from passing quorum by themselves.
Given the importance of Tao decisions, we should keep a high consensus requirement of 85%.
The big thing here is that quiet ending period overlaps the delegates voting period so if there is a contentious vote within the Delegates, an extra 2 days can be added so #TECoinstituents have time to change their delegates vote.
A quick-er vote duration means we could wrap up and execute votes within 5.5 days. If there's any contention 2 days are added to the vote so we have ample time for more participation.
A 12 hour minimum execution delay is given even though there is a 3 day quiet ending period so people won't really ever be surprised by an outcome... but still anyone who REALLY cares would never be asleep after the outcome is certain with a 12 hour delay.
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 7 days | 9 days |
Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
Time to Execute a Passing Proposal | 5.5 days | 7.5 days | 9.5 days |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 11% ensuring that we CAN fund 40k-70k proposals if we need to given our large Common Pool. … but really proposals asking for more than 4% of the Common Pool will be pretty hard to pass and should be broken up.
Assuming we have 800k in the funding pool…
29% of the voting tokens can pass a 24k proposal in 3 days.
27% of the voting tokens can pass a 48k proposal in 2 weeks.
And Conviction Growth basically tops off after a month so…
6% of the voting tokens can pass a $8k (1%) proposal after a month.
7% of the voting tokens can pass a $16k (2%) proposal after a month.
8% of the voting tokens can pass a $24k (3%) proposal after a month.
10% of the voting tokens can pass a $32k (4%) proposal after a month.
14% of the voting tokens can pass a $40k (5%) proposal after a month.
20% of the voting tokens can pass a $48k (6%) proposal after a month.
32% of the voting tokens can pass a $56k (7%) proposal after a month.
57% of the voting tokens can pass a $64k (8%) proposal after a month.
A proposal asking for $72k (9%) would not be able to pass.
But also if there is a big push to spend money fast, it is possible to pass proposals asking for 1% of the Common Pool in a day with about 50% of the voting power, and in 3 days we can spend up to 5% of the Common Pool with 50% of the voting power.
Fast is possible... but not too fast... Minority proposals with support can pass eventually, but it doesn't take too long
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 11.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 72599 |
2 | 5,000 | 100,000 | 1,500,000 | 201666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 61481 |
5 | 5,000 | 750,000 | 1,500,000 | 67991 |
6 | 25,000 | 750,000 | 1,500,000 | 123516 |
7 | 8,000 | 800,000 | 1,000,000 | 48399 |
8 | 16,000 | 800,000 | 1,000,000 | 59753 |
9 | 24,000 | 800,000 | 1,000,000 | 75625 |
10 | 35,000 | 800,000 | 1,000,000 | 110274 |
11 | 50,000 | 800,000 | 1,000,000 | 214515 |
12 | 72,000 | 800,000 | 1,000,000 | Not possible |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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 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: 69.00%, which means that 69.00% of the Hatch funds (870244.26 wxDAI) will go to the Common Pool and 31.00% (390979.31 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 22.00% meaning that from every BUY order on the ABC, 22.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 85%, which means 85% 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 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: 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 day(s), meaning that there is an 0.5 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 10 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 11.0%, which means that no more than 11.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
"The Fledge"
What is the overall Commons Configuration strategy?
After the Hatch, a bird needs to "Fledge" before it can fly. This proposal imagines a year of testing and learning that is heavily backed by impact investors before it eases into more market forces in year two, when the params would be significantly retooled.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.5 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 80.00% |
Entry Tribute | 30.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 8.60% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 40% |
Vote Duration | 10 day(s) |
Delegated Voting Period | 5 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 | 14 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 4.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
A $1.50 opening price gives a nice discount to Hatchers and contributors, while assuming early post-upgrade TEC purchasers are mission-driven thus less price-sensitive.
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.5 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% | 1.50 wxDAI |
6 months | 0.00% | 1.50 wxDAI |
9 months | 0.00% | 1.50 wxDAI |
1 year | 0.00% | 1.50 wxDAI |
1.5 years | 50.00% | 0.75 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:
The 80% initial tribute makes us unabashedly an impact investment. Impact investors care about impact and don't want to pay to fund reserves to lower the volatility. Another effect of the low reserve is high slippage, which makes it expensive and thus unattractive for non-aligned, purely speculative whales to suddenly buy up large shares in ways that might harm the mission and the community. Impact investors will care less about slippage, since that money goes to the TEC, which they are backing for impact. Oh, did I mention it's a million dollar fund. Nice.
Yeah, 30% entry tribute is a big cut. But remember, we're an impact investment. We pitch that the 30% is an investment that they make in public goods and we take it off the top while they're still excited. There's no exit tribute. We get the investment up front, not when they're trying to get out and may have reasons for leaving anyway.
Plus we don't want contributors to have to pay a "tax" when they cash on their contributions of effort.
This proposal assumes that the entry tribute does not impact contributors (for at least as long are our initial buy-in rewards funding lasts).
A large tribute does create risk of arbitrage, so this proposal envisions restricting trading in secondary liquidity markets -- just for the first year, while we "fledge."
Parameter | Value |
---|---|
Commons Tribute | 80.00% |
Entry Tribute | 30.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 8.60% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 1008978.86 |
Reserve (Before Initial Buy) | 252244.71 |
Common Pool (After Initial Buy) | 1083978.86 |
Reserve (After Initial Buy) | 427244.71 |
TEC Price vs ABC Reserve Holdings
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 | 252244.71 | 1956421.69 | 1.5 | 250000.00 wxDAI | 75000.0 | 90652.31 TEC | 2.43 | 22.30% |
1 | 427244.71 | 2047073.99 | 2.43 | 5000.00 wxDAI | 1500.0 | 1436.06 TEC | 2.45 | 0.37% |
2 | 430744.71 | 2048510.05 | 2.45 | 100000.00 wxDAI | 30000.0 | 26686.38 TEC | 2.81 | 6.74% |
3 | 500744.71 | 2075196.43 | 2.81 | 3000.00 TEC | 2507.24 | 5850.22 wxDAI | 2.76 | 0.77% |
4 | 492387.25 | 2072196.43 | 2.76 | 100000.00 wxDAI | 30000.0 | 23811.67 TEC | 3.12 | 5.96% |
5 | 562387.25 | 2096008.1 | 3.12 | 3000.00 TEC | 2788.14 | 6505.65 wxDAI | 3.07 | 0.76% |
6 | 553093.46 | 2093008.1 | 3.07 | 1.00 TEC | 0.92 | 2.15 wxDAI | 3.07 | 0.00% |
7 | 553090.38 | 2093007.1 | 3.07 | 100000.00 wxDAI | 30000.0 | 21549.28 TEC | 3.43 | 5.36% |
8 | 623090.38 | 2114556.38 | 3.43 | 750000.00 wxDAI | 225000.0 | 114051.85 TEC | 5.99 | 25.53% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,482,482 | 0.08 | 116,402.42 |
50,000 | 1,702,366 | 0.34 | 581,763.01 |
100,000 | 1,806,866 | 0.64 | 1,163,464.67 |
200,000 | 1,917,785 | 1.21 | 2,326,873.83 |
300,000 | 1,985,799 | 1.76 | 3,490,265.05 |
400,000 | 2,035,514 | 2.29 | 4,653,670.95 |
500,000 | 2,074,933 | 2.80 | 5,817,088.55 |
600,000 | 2,107,705 | 3.31 | 6,980,491.80 |
700,000 | 2,135,818 | 3.81 | 8,143,886.79 |
800,000 | 2,160,472 | 4.31 | 9,307,262.70 |
900,000 | 2,182,456 | 4.80 | 10,470,676.89 |
1,000,000 | 2,202,311 | 5.28 | 11,634,128.39 |
1,250,000 | 2,244,959 | 6.48 | 14,542,585.34 |
1,500,000 | 2,280,418 | 7.65 | 17,451,143.24 |
1,750,000 | 2,310,834 | 8.81 | 20,359,649.36 |
2,000,000 | 2,337,510 | 9.95 | 23,268,198.19 |
2,500,000 | 2,382,776 | 12.21 | 29,085,132.03 |
3,000,000 | 2,420,412 | 14.42 | 34,902,207.18 |
3,500,000 | 2,452,695 | 16.60 | 40,719,184.36 |
4,000,000 | 2,481,008 | 18.76 | 46,536,273.73 |
5,000,000 | 2,529,054 | 23.00 | 58,170,336.16 |
7,500,000 | 2,618,748 | 33.32 | 87,255,183.29 |
10,000,000 | 2,684,312 | 43.34 | 116,340,669.46 |
15,000,000 | 2,779,513 | 62.78 | 174,510,739.74 |
20,000,000 | 2,849,101 | 81.67 | 232,680,998.49 |
50,000,000 | 3,082,566 | 188.71 | 581,701,782.79 |
100,000,000 | 3,271,805 | 355.59 | 1,163,406,122.26 |
Module 3: Tao Voting
Strategy:
My quick analysis of TEC Snapshot votes is that we've averaged 29% participation (by tokens, not people). We should be able to achieve higher than that, and should push for high community participation, on votes affecting our essential economic design.
These votes are on the longish side but given the types of votes we're making under TAO voting, I think we need more time for community evaluation and discussion.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 40% |
Vote Duration | 10 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 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 | 10 days | 12 days | 14 days |
Time to Review a Delegates Vote | 5 days | 7 days | 9 days |
Time to Execute a Passing Proposal | 11 days | 13 days | 15 days |
Module 4: Conviction Voting
Strategy:
The 4% limit is designed to encourage milestones, and breaking projects up into smaller phases with deliverables that can be assessed by the community as they go -- especially in this first year. Assuming a million dollar pool, $40K should be the max and we want to encourage in one step.
At a conviction level of 3, funding proposals can be approved with 10X the amount requested sitting in conviction for one month. That sounds about the right flow and spend rate.
The bulk of the conviction matures within one month, which is perhaps a slower pace than we may have first imagined. But from the lens of Fledging, it is good to be deliberate as we learn to fly. We don't want to run out of funds too quickly. Conviction voting gets a lot harder when the pool shrinks!
Parameter | Value |
---|---|
Conviction Growth | 14 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 4.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 80000 |
2 | 5,000 | 100,000 | 1,500,000 | Not possible |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 48156 |
5 | 5,000 | 750,000 | 1,500,000 | 64800 |
6 | 25,000 | 750,000 | 1,500,000 | Not possible |
7 | 15,000 | 1,000,000 | 1,500,000 | 115199 |
8 | 17,000 | 1,000,000 | 1,500,000 | 136105 |
9 | 2,500 | 1,000,000 | 1,000,000 | 34133 |
10 | 20,000 | 1,000,000 | 1,500,000 | 180000 |
11 | 20,000 | 50,000 | 1,500,000 | Not possible |
12 | 20,000 | 500,000 | 1,500,000 | Not possible |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 52 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 52 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: 1.5 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.5 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 80.00%, which means that 80.00% of the Hatch funds (1008978.86 wxDAI) will go to the Common Pool and 20.00% (252244.71 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 30.00% meaning that from every BUY order on the ABC, 30.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.00% meaning that from every SELL order on the ABC, 0.00% 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: 40%, meaning that 40% of all tokens need to have voted on a proposal in order for it to become valid.
- Vote Duration: 10 day(s), meaning that eligible voters will have 10 day(s) to vote on a proposal.
- Delegated Voting Period is set for 5 day(s), meaning that Delegates will have 5 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 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: 14 day(s), meaning that voting power will increase by 50% every 14 days that they are staked behind a proposal, so after 20 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 3.0%, this means that to pass any funding request it will take at least 3.0% of the actively voting TEC tokens.
- The Spending Limit: 4.0%, which means that no more than 4.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 250 wxDAI |
Challenge Deposit | 500 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
TEST A Token Orogeny that Slaps but with better Tao Voting
What is the overall Commons Configuration strategy?
This strategy is designed to ensure the stability of the ABC throughout the early stages of Commons Development while prioritizing small funding proposals that make an impact in the space and expanding the utility of the TEC token and the role of the Token Engineering Commons within this industry.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 78 Weeks |
Opening Price | 1.2 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 59.00% |
Entry Tribute | 12.00% |
Exit Tribute | 8.00% |
*Reserve Ratio | 22.03% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 83% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 42 day(s) |
Minimum Conviction | 0.8% |
Spending Limit | 11.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Opening Price is at the lower end ($1.50) allowing for initial token buyers to get in at a perceived bargain even after the initial buy-in. The Token Freeze (18 weeks) provides a 4+ month buffer to allow enough economic activity to occur on the ABC while minimizing the amount of time for value-aligned members to begin putting their tokens to use. The Token Thaw period (1.5 year) allows for a responsible amount of time to effectively distribute potential sell pressure placed on the ABC.
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 78 Weeks |
Opening Price | 1.2 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% | 1.20 wxDAI |
6 months | 0.00% | 1.20 wxDAI |
9 months | 16.67% | 1.00 wxDAI |
1 year | 33.33% | 0.80 wxDAI |
1.5 years | 66.67% | 0.40 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:
The Commons Tribute (42%) will allow for a substantial amount of funds to be available for distribution granting the TEC Token more opportunity for external utility. The Entry Tribute (12%) and Exit Tribute (8%) is designed to prevent speculation on the curve early on and allow for value-aligned individuals to enter into the TEC economy, while contributing more funding toward the Commons Pool. This proposal comes with the assumption that these parameters will be altered after the Commons Upgrade when the Entry & Exit Tributes will be altered to reflect the dynamics of secondary markets and arbitrage opportunities.
Parameter | Value |
---|---|
Commons Tribute | 59.00% |
Entry Tribute | 12.00% |
Exit Tribute | 8.00% |
*Reserve Ratio | 22.03% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 744121.91 |
Reserve (Before Initial Buy) | 517101.66 |
Common Pool (After Initial Buy) | 774121.91 |
Reserve (After Initial Buy) | 737101.66 |
TEC Price vs ABC Reserve Holdings
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 | 517101.66 | 1956421.69 | 1.2 | 250000.00 wxDAI | 30000.0 | 158876.27 TEC | 1.58 | 13.34% |
1 | 737101.66 | 2115297.95 | 1.58 | 5000.00 wxDAI | 600.0 | 2774.73 TEC | 1.59 | 0.23% |
2 | 741501.66 | 2118072.68 | 1.59 | 100000.00 wxDAI | 12000.0 | 52971.03 TEC | 1.73 | 4.33% |
3 | 829501.66 | 2171043.71 | 1.73 | 3000.00 TEC | 622.95 | 4568.34 wxDAI | 1.73 | 0.24% |
4 | 824310.37 | 2168043.71 | 1.73 | 2235.00 TEC | 462.12 | 3388.90 wxDAI | 1.72 | 0.18% |
5 | 820459.35 | 2165808.71 | 1.72 | 100000.00 TEC | 19016.89 | 139457.16 wxDAI | 1.45 | 7.86% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 820,446 | 0.06 | 45,409.25 |
50,000 | 1,169,474 | 0.19 | 227,014.06 |
100,000 | 1,362,364 | 0.33 | 454,020.30 |
200,000 | 1,587,072 | 0.57 | 908,031.99 |
300,000 | 1,735,329 | 0.78 | 1,362,044.70 |
400,000 | 1,848,845 | 0.98 | 1,816,056.47 |
500,000 | 1,941,984 | 1.17 | 2,270,069.73 |
600,000 | 2,021,557 | 1.35 | 2,724,080.86 |
700,000 | 2,091,373 | 1.52 | 3,178,094.94 |
800,000 | 2,153,796 | 1.69 | 3,632,105.14 |
900,000 | 2,210,403 | 1.85 | 4,086,117.48 |
1,000,000 | 2,262,298 | 2.01 | 4,540,131.67 |
1,250,000 | 2,376,266 | 2.39 | 5,675,162.68 |
1,500,000 | 2,473,634 | 2.75 | 6,810,192.51 |
1,750,000 | 2,559,063 | 3.10 | 7,945,220.84 |
2,000,000 | 2,635,446 | 3.45 | 9,080,256.81 |
2,500,000 | 2,768,212 | 4.10 | 11,350,316.81 |
3,000,000 | 2,881,640 | 4.73 | 13,620,378.90 |
3,500,000 | 2,981,160 | 5.33 | 15,890,438.41 |
4,000,000 | 3,070,142 | 5.92 | 18,160,503.59 |
5,000,000 | 3,224,806 | 7.04 | 22,700,620.57 |
7,500,000 | 3,526,056 | 9.66 | 34,050,927.47 |
10,000,000 | 3,756,713 | 12.09 | 45,401,236.06 |
15,000,000 | 4,107,651 | 16.58 | 68,101,861.55 |
20,000,000 | 4,376,353 | 20.75 | 90,802,467.83 |
50,000,000 | 5,355,030 | 42.39 | 227,006,224.42 |
100,000,000 | 6,238,300 | 72.78 | 454,012,456.60 |
Module 3: Tao Voting
Strategy:
Tao is not supposed to be shouted in all caps and while Lao Tsu would agree that patience is a virtue, 10 days is just longer than necessary... so i modified this proposal to have a shorter time frame... I like 88% for support required but compromised with the original param set with 83% Support Required.
The Tao Voting parameters provide a voting system that requires a high amount of support (83%), and a moderate quorum (8%) of participation. 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.
Parameter | Value |
---|---|
Support Required | 83% |
Minimum Quorum | 8% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit (11%) 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 Minimum Conviction (0.8%) reduces the minimum effective supply which reflects the spending limit strategy -- allowing for an abundance of funding proposals all with the chance of passing with smaller amounts of tokens staked. The Conviction Growth (42 days) ensures that proposals aren't passed too quickly and that the community has an opportunity to move their tokens between proposals without impacting their conviction too quickly.
Parameter | Value |
---|---|
Conviction Growth | 42 day(s) |
Minimum Conviction | 0.8% |
Spending Limit | 11.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 14519 |
2 | 5,000 | 100,000 | 1,500,000 | 40333 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 12296 |
5 | 5,000 | 750,000 | 1,500,000 | 13598 |
6 | 25,000 | 750,000 | 1,500,000 | 24703 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 78 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 78 weeks later.
- Opening Price: 1.2 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.2 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 59.00%, which means that 59.00% of the Hatch funds (744121.91 wxDAI) will go to the Common Pool and 41.00% (517101.66 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 12.00% meaning that from every BUY order on the ABC, 12.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 8.00% meaning that from every SELL order on the ABC, 8.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 83%, which means 83% 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 42 day(s), meaning that voting power will increase by 50% every 42 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: 0.8%, this means that to pass any funding request it will take at least 0.8% of the actively voting TEC tokens.
- The Spending Limit: 11.0%, which means that no more than 11.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | False |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
900k Entry into Orogeny with Better CV
What is the overall Commons Configuration strategy?
FORK!
This is an exaggerated version of the Entry into Orogeny proposal (shout out to Nate!) and is somewhat inspired by Zep's DAO Casino and Tam's push for a high Common Pool.
The real things to note about this proposal is the >1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, and the low Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 26% and 0% to 2% and 12% in 6 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a 40 Mil Market Cap so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.4 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 65.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 16.12% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 70 day(s) |
Minimum Conviction | 0.9000000000000001% |
Spending Limit | 15.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Considering the decent profit off the bat (40% / 111%) and the low reserve ratio which 2.75 years for the tokens to unlock seems fine. 9 months to get the economy going, 2 years after that to slowly vest... if someone had 10,000 tokens from the Hatch they would get about ~14 tokens a day.
Parameter | Value |
---|---|
Token Freeze | 40 Weeks |
Token Thaw | 104 Weeks |
Opening Price | 1.4 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% | 1.40 wxDAI |
6 months | 0.00% | 1.40 wxDAI |
9 months | 0.00% | 1.40 wxDAI |
1 year | 11.54% | 1.24 wxDAI |
1.5 years | 36.54% | 0.89 wxDAI |
2 years | 61.54% | 0.54 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:
FORKED!!! 900k Common Pool
The Commons Tribute and Entry Tribute are set so that there is about ~1 mil in the Common Pool after the initial buy.
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (26%) 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 if this proposal is chosen we should plan to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 6 months.
This proposal has a low Reserve Ratio so that we can have high profitability for it to make sense to speculate despite the high entry tribute.
If we lower it 4% a month... we only have to sell ~40k worth of tokens every month for it to make sense to speculate on the token. I think this is very doable.
The Reserve Ratio is low but it's not a DAO Casino and with a long lockup we have a long time to grow beyond the Hatch.
Parameter | Value |
---|---|
Commons Tribute | 65.00% |
Entry Tribute | 26.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 16.12% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 819795.32 |
Reserve (Before Initial Buy) | 441428.25 |
Common Pool (After Initial Buy) | 884795.32 |
Reserve (After Initial Buy) | 626428.25 |
TEC Price vs ABC Reserve Holdings
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 | 441428.25 | 1956421.69 | 1.4 | 250000.00 wxDAI | 65000.0 | 113535.16 TEC | 1.88 | 14.08% |
1 | 626428.25 | 2069956.85 | 1.88 | 5000.00 wxDAI | 1300.0 | 1965.57 TEC | 1.89 | 0.25% |
2 | 630128.25 | 2071922.42 | 1.89 | 100000.00 wxDAI | 26000.0 | 37411.32 TEC | 2.07 | 4.60% |
3 | 704128.25 | 2109333.74 | 2.07 | 3000.00 TEC | 1609.62 | 4581.24 wxDAI | 2.06 | 0.37% |
4 | 697937.39 | 2106333.74 | 2.06 | 35000.00 wxDAI | 9100.0 | 12405.65 TEC | 2.12 | 1.52% |
5 | 723837.39 | 2118739.39 | 2.12 | 38000.00 wxDAI | 9880.0 | 13054.30 TEC | 2.19 | 1.59% |
6 | 751957.39 | 2131793.69 | 2.19 | 41000.00 wxDAI | 10660.0 | 13633.41 TEC | 2.26 | 1.65% |
7 | 782297.39 | 2145427.1 | 2.26 | 43000.00 wxDAI | 11180.0 | 13829.97 TEC | 2.34 | 1.66% |
8 | 814117.39 | 2159257.08 | 2.34 | 750000.00 wxDAI | 195000.0 | 188687.53 TEC | 3.62 | 20.46% |
9 | 1369117.39 | 2347944.61 | 3.62 | 1000000.00 wxDAI | 260000.0 | 169338.17 TEC | 5.2 | 17.20% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,062,643 | 0.06 | 62,064.51 |
50,000 | 1,377,279 | 0.23 | 310,257.45 |
100,000 | 1,540,053 | 0.40 | 620,499.66 |
200,000 | 1,722,067 | 0.72 | 1,240,983.03 |
300,000 | 1,838,355 | 1.01 | 1,861,466.27 |
400,000 | 1,925,595 | 1.29 | 2,481,948.37 |
500,000 | 1,996,105 | 1.55 | 3,102,429.50 |
600,000 | 2,055,628 | 1.81 | 3,722,917.10 |
700,000 | 2,107,337 | 2.06 | 4,343,397.23 |
800,000 | 2,153,179 | 2.31 | 4,963,881.15 |
900,000 | 2,194,442 | 2.54 | 5,584,363.74 |
1,000,000 | 2,232,022 | 2.78 | 6,204,846.83 |
1,250,000 | 2,313,753 | 3.35 | 7,756,060.04 |
1,500,000 | 2,382,748 | 3.91 | 9,307,261.59 |
1,750,000 | 2,442,686 | 4.45 | 10,858,477.78 |
2,000,000 | 2,495,823 | 4.97 | 12,409,679.73 |
2,500,000 | 2,587,213 | 6.00 | 15,512,089.80 |
3,000,000 | 2,664,364 | 6.99 | 18,614,520.69 |
3,500,000 | 2,731,385 | 7.95 | 21,716,924.27 |
4,000,000 | 2,790,803 | 8.89 | 24,819,355.25 |
5,000,000 | 2,892,995 | 10.72 | 31,024,181.83 |
7,500,000 | 3,088,356 | 15.07 | 46,536,265.24 |
10,000,000 | 3,234,916 | 19.18 | 62,048,338.33 |
15,000,000 | 3,453,366 | 26.95 | 93,072,479.23 |
20,000,000 | 3,617,249 | 34.31 | 124,096,723.43 |
50,000,000 | 4,192,878 | 73.99 | 310,241,662.64 |
100,000,000 | 4,688,432 | 132.34 | 620,483,601.62 |
Module 3: Tao Voting
Strategy:
The Tao Voting parameters provide a voting system that requires a high amount of support (80%), and a moderate quorum (10%) of participation.... this is almost the same as our HatchDAO but higher quorum because we have delegation and lower support required because we are now an open community, not just the Trusted Seed.
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.
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 10% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
With the conviction voting module, I set the Spending Limit at 15% ensuring that we can fund 50k-80k proposals if we need to given our large Common Pool. The rest of the settings were inspired by Nate's Orogeny params with a low Minimum Conviction (.6%) and high Conviction Growth (100 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.
I think these parameters could be explored more.
Parameter | Value |
---|---|
Conviction Growth | 70 day(s) |
Minimum Conviction | 0.9000000000000001% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 15497 |
2 | 5,000 | 100,000 | 1,500,000 | 30375 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 13743 |
5 | 5,000 | 750,000 | 1,500,000 | 14785 |
6 | 25,000 | 750,000 | 1,500,000 | 22316 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 40 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 40 weeks. They can still be used to vote while frozen.
- Token Thaw: 104 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 104 weeks later.
- Opening Price: 1.4 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.4 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 65.00%, which means that 65.00% of the Hatch funds (819795.32 wxDAI) will go to the Common Pool and 35.00% (441428.25 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 26.00% meaning that from every BUY order on the ABC, 26.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.00% meaning that from every SELL order on the ABC, 0.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 80%, which means 80% 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: 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 70 day(s), meaning that voting power will increase by 50% every 70 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: 0.9000000000000001%, this means that to pass any funding request it will take at least 0.9000000000000001% 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.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 2.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
The Bolshevik's Gambit fork with Revolutionary Opening Price and Iron Curtain Conviction Voting
What is the overall Commons Configuration strategy?
This is not a proposal for the weak willed.
We are charting out into new territories of ideology, coalescing into forms of governance and economics. We have rallied a strong community around our cause with our Trusted Seed. We should be confident in our cultural build to guide us to where we need to go without imposing technical red tape on our primary revolutionaries.
We have to recognize that the TEC at launch will not be same force as it will be in 6 months. We can expect to expand and mature with time and our post-launch settings will adjust to reflect our evolution. I have outlined envisioned changes in this proposal.
A low opening price reduces the sell pressure once we go post token freeze, likely adhering hatcher's to our mission rather than salivating like wild beasts over the token price. However newcomers will want to take part and the buy pressure with such a low opening price will be considerable. with an ample entry tribute we can hope to secure a further amount of funding, while slightly dissuading sells.
Tao Voting and Conviction Voting is reasonably agile, which is what any radical movement needs. We can hope to adjust our settings as our Commons cools off post-revolution.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 70.00% |
Entry Tribute | 8.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.34% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6 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) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 18.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Revolutions happen quickly. We have supreme confidence in our plan to create an amazing Commons and generate value. 3 months Freeze is a reasonable amount of time in crypto to hold tokens. That being said, a year of Thaw means that TEC holder's will be very unikely to sell their Tokens for a while since so little will be available. If they intend to sell they will wait and speculate a bit longer.
Taking this into consideration as well we have to "Trust" our trusted seed. These Hatchers are not likely to sell en masse anyway unless we really mess up.
Parameter | Value |
---|---|
Token Freeze | 12 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 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 | 1.92% | 0.98 wxDAI |
6 months | 26.92% | 0.73 wxDAI |
9 months | 51.92% | 0.48 wxDAI |
1 year | 76.92% | 0.23 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:
We're coming to realize we'll need a good chunk of money to kick-start our vision and to adequately reward contributors and fund WGs and projects. This leaves us well over 800k to ignite the revolution.
A low opening price is fine because Hatcher's are true believers in the cause, in the collective well being of the Commons and spreading its ideology. Even with a low initial balance the reserve ratio is at a healthy amount, this means that as our supply grows we can count of having lower amounts of price slippage
Strong tributes in the beginning will test the resolve of our new revolutionistas and penalize the feeble-willed who abandon our cause early. By having higher tributes we can hope to capture additional funding from the hype train generated by the Commons Upgrade.
Once our revolution is successful and our provisional government is established we can put our Tao Voting parameters to the test by lowering the tributes to healthier economic levels (3, 3). I envision this happening within 3-6 months.
Parameter | Value |
---|---|
Commons Tribute | 70.00% |
Entry Tribute | 8.00% |
Exit Tribute | 10.00% |
*Reserve Ratio | 19.34% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 882856.50 |
Reserve (Before Initial Buy) | 378367.07 |
Common Pool (After Initial Buy) | 902856.50 |
Reserve (After Initial Buy) | 608367.07 |
TEC Price vs ABC Reserve Holdings
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 | 378367.07 | 1956421.69 | 1.0 | 250000.00 wxDAI | 20000.0 | 188202.31 TEC | 1.47 | 18.17% |
1 | 608367.07 | 2144624.0 | 1.47 | 5000.00 wxDAI | 400.0 | 3126.61 TEC | 1.48 | 0.30% |
2 | 612967.07 | 2147750.61 | 1.48 | 100000.00 wxDAI | 8000.0 | 58877.81 TEC | 1.65 | 5.56% |
3 | 704967.07 | 2206628.42 | 1.65 | 3000.00 TEC | 395.34 | 4546.39 wxDAI | 1.64 | 0.28% |
4 | 700025.34 | 2203628.42 | 1.64 | 5000.00 wxDAI | 400.0 | 2793.09 TEC | 1.65 | 0.26% |
5 | 704625.34 | 2206421.51 | 1.65 | 100000.00 wxDAI | 8000.0 | 52992.25 TEC | 1.82 | 4.89% |
6 | 796625.34 | 2259413.76 | 1.82 | 3000.00 TEC | 436.33 | 5017.81 wxDAI | 1.81 | 0.28% |
7 | 791171.2 | 2256413.76 | 1.81 | 2000.00 TEC | 289.55 | 3329.78 wxDAI | 1.81 | 0.18% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 968,981 | 0.05 | 51,717.70 |
50,000 | 1,322,758 | 0.20 | 258,545.47 |
100,000 | 1,512,506 | 0.34 | 517,080.03 |
200,000 | 1,729,477 | 0.60 | 1,034,149.49 |
300,000 | 1,870,553 | 0.83 | 1,551,219.10 |
400,000 | 1,977,574 | 1.05 | 2,068,289.62 |
500,000 | 2,064,785 | 1.25 | 2,585,357.59 |
600,000 | 2,138,889 | 1.45 | 3,102,426.15 |
700,000 | 2,203,614 | 1.64 | 3,619,495.45 |
800,000 | 2,261,263 | 1.83 | 4,136,568.61 |
900,000 | 2,313,363 | 2.01 | 4,653,636.67 |
1,000,000 | 2,360,984 | 2.19 | 5,170,707.02 |
1,250,000 | 2,465,104 | 2.62 | 6,463,380.51 |
1,500,000 | 2,553,575 | 3.04 | 7,756,051.99 |
1,750,000 | 2,630,850 | 3.44 | 9,048,730.89 |
2,000,000 | 2,699,675 | 3.83 | 10,341,405.52 |
2,500,000 | 2,818,731 | 4.59 | 12,926,751.69 |
3,000,000 | 2,919,894 | 5.31 | 15,512,096.71 |
3,500,000 | 3,008,253 | 6.02 | 18,097,449.37 |
4,000,000 | 3,086,952 | 6.70 | 20,682,792.17 |
5,000,000 | 3,223,087 | 8.02 | 25,853,493.31 |
7,500,000 | 3,486,002 | 11.12 | 38,780,218.79 |
10,000,000 | 3,685,449 | 14.03 | 51,706,956.23 |
15,000,000 | 3,986,081 | 19.46 | 77,560,445.52 |
20,000,000 | 4,214,139 | 24.54 | 103,413,904.40 |
50,000,000 | 5,031,176 | 51.39 | 258,534,777.65 |
100,000,000 | 5,752,915 | 89.88 | 517,069,709.39 |
Module 3: Tao Voting
Strategy:
Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made!
A quick-er vote duration means we could wrap up and execute votes within one week. If there's any contention we add ample time for more participation.
A greater execution delay however allows our economy's participants to react to any potential changes to its configuration before being implemented.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6 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 | 6 days | 9 days | 12 days |
Time to Review a Delegates Vote | 3 days | 6 days | 9 days |
Time to Execute a Passing Proposal | 7 days | 10 days | 13 days |
Module 4: Conviction Voting
Strategy:
With these settings we'll need to optimize voter engagement, even humble requests in the range of 15-35k will need an exceptional amount of tokens staked if we assume to have good engagement from hatchers. this build also protect us adqeuately from small proposals passing under the radar
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 18.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 67266 |
2 | 5,000 | 100,000 | 1,500,000 | 115029 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 60898 |
5 | 5,000 | 750,000 | 1,500,000 | 64704 |
6 | 25,000 | 750,000 | 1,500,000 | 90371 |
7 | 35,000 | 900,000 | 1,500,000 | 97627 |
8 | 15,000 | 900,000 | 1,500,000 | 72869 |
9 | 40,000 | 700,000 | 2,000,000 | 171725 |
10 | 1,000 | 700,000 | 2,000,000 | 81285 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 12 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 12 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: 70.00%, which means that 70.00% of the Hatch funds (882856.50 wxDAI) will go to the Common Pool and 30.00% (378367.07 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 8.00% meaning that from every BUY order on the ABC, 8.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 10.00% meaning that from every SELL order on the ABC, 10.00% 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: 6 day(s), meaning that eligible voters will have 6 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: 7 day(s), meaning that voting power will increase by 50% every 7 days that they are staked behind a proposal, so after 12 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 18.0%, which means that no more than 18.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Reserve ratio matters, change my mind
What is the overall Commons Configuration strategy?
We wanted to have a high reserve ratio and mixed some approach from other proposals.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 32 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 1.05 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 50.00% |
Entry Tribute | 0.75% |
Exit Tribute | 0.75% |
*Reserve Ratio | 30.70% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 75% |
Minimum Quorum | 15% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 0.5 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 15 day(s) |
Minimum Conviction | 2.0% |
Spending Limit | 13.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Low opening price so we can have a healthy economy with a high reserve and good amount of the common pool. There is a little more than a year of vesting to show people from outside, we are connected with our economy
Parameter | Value |
---|---|
Token Freeze | 32 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 1.05 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% | 1.05 wxDAI |
6 months | 0.00% | 1.05 wxDAI |
9 months | 26.92% | 0.77 wxDAI |
1 year | 76.92% | 0.24 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:
Money in the common pool it's going to be a bit limited compared to other proposals, but it's good enough to start working and feel the pressure of creating inflows on the economy.
Low entry and exit tribute to incentives speculation and arbitrage opportunities that funds TE public goods
Parameter | Value |
---|---|
Commons Tribute | 50.00% |
Entry Tribute | 0.75% |
Exit Tribute | 0.75% |
*Reserve Ratio | 30.70% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 630611.79 |
Reserve (Before Initial Buy) | 630611.79 |
Common Pool (After Initial Buy) | 632486.79 |
Reserve (After Initial Buy) | 878736.78 |
TEC Price vs ABC Reserve Holdings
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 | 630611.79 | 1956421.69 | 1.05 | 250000.00 wxDAI | 1875.0 | 209772.09 TEC | 1.32 | 11.23% |
1 | 878736.78 | 2166193.78 | 1.32 | 5000.00 wxDAI | 37.5 | 3748.02 TEC | 1.33 | 0.20% |
2 | 883699.28 | 2169941.79 | 1.33 | 100000.00 wxDAI | 750.0 | 72074.35 TEC | 1.43 | 3.66% |
3 | 982949.28 | 2242016.15 | 1.43 | 3000.00 TEC | 32.09 | 4245.98 wxDAI | 1.42 | 0.15% |
4 | 978671.22 | 2239016.15 | 1.42 | 5000.00 wxDAI | 37.5 | 3479.12 TEC | 1.43 | 0.18% |
5 | 983633.72 | 2242495.27 | 1.43 | 100000.00 wxDAI | 750.0 | 67161.64 TEC | 1.53 | 3.31% |
6 | 1082883.72 | 2309656.91 | 1.53 | 3000.00 TEC | 34.31 | 4540.87 wxDAI | 1.52 | 0.15% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 548,259 | 0.06 | 32,579.04 |
50,000 | 898,554 | 0.18 | 162,880.54 |
100,000 | 1,111,611 | 0.29 | 325,757.52 |
200,000 | 1,375,189 | 0.47 | 651,511.19 |
300,000 | 1,557,466 | 0.63 | 977,265.13 |
400,000 | 1,701,266 | 0.77 | 1,303,019.15 |
500,000 | 1,821,888 | 0.89 | 1,628,773.30 |
600,000 | 1,926,764 | 1.01 | 1,954,526.94 |
700,000 | 2,020,133 | 1.13 | 2,280,280.45 |
800,000 | 2,104,661 | 1.24 | 2,606,034.68 |
900,000 | 2,182,152 | 1.34 | 2,931,788.26 |
1,000,000 | 2,253,884 | 1.45 | 3,257,542.31 |
1,250,000 | 2,413,688 | 1.69 | 4,071,927.81 |
1,500,000 | 2,552,632 | 1.91 | 4,886,312.15 |
1,750,000 | 2,676,329 | 2.13 | 5,700,697.24 |
2,000,000 | 2,788,315 | 2.34 | 6,515,081.66 |
2,500,000 | 2,986,010 | 2.73 | 8,143,850.15 |
3,000,000 | 3,157,900 | 3.09 | 9,772,621.74 |
3,500,000 | 3,310,927 | 3.44 | 11,401,391.06 |
4,000,000 | 3,449,467 | 3.78 | 13,030,160.57 |
5,000,000 | 3,694,039 | 4.41 | 16,287,699.85 |
7,500,000 | 4,183,675 | 5.84 | 24,431,545.00 |
10,000,000 | 4,569,953 | 7.13 | 32,575,393.03 |
15,000,000 | 5,175,690 | 9.44 | 48,863,094.17 |
20,000,000 | 5,653,559 | 11.52 | 65,150,792.59 |
50,000,000 | 7,489,997 | 21.75 | 162,876,964.36 |
100,000,000 | 9,265,991 | 35.16 | 325,753,935.33 |
Module 3: Tao Voting
Strategy:
If you look at our hatch params support gets a bit lower because our community will be open and 75% its a high majority and quorum 15% we will have delegated voting and we have a strong coordinate community.
Parameter | Value |
---|---|
Support Required | 75% |
Minimum Quorum | 15% |
Vote Duration | 7 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 0.5 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 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 |
Module 4: Conviction Voting
Strategy:
CV probably it's a bit hard to pass proposals, so we use money wisely.
Parameter | Value |
---|---|
Conviction Growth | 15 day(s) |
Minimum Conviction | 2.0% |
Spending Limit | 13.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 35208 |
2 | 5,000 | 100,000 | 1,500,000 | 79218 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 30624 |
5 | 5,000 | 750,000 | 1,500,000 | 33330 |
6 | 25,000 | 750,000 | 1,500,000 | 54256 |
7 | 45,000 | 632,000 | 1,500,000 | 146652 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 32 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 32 weeks. They can still be used to vote while frozen.
- Token Thaw: 26 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 26 weeks later.
- Opening Price: 1.05 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.05 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 (630611.79 wxDAI) will go to the Common Pool and 50.00% (630611.79 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 0.75% meaning that from every BUY order on the ABC, 0.75% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.75% meaning that from every SELL order on the ABC, 0.75% 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: 15%, meaning that 15% 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: 0.5 day(s), this means that 0.5 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 day(s), meaning that there is an 0.5 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 15 day(s), meaning that voting power will increase by 50% every 15 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: 2.0%, this means that to pass any funding request it will take at least 2.0% of the actively voting TEC tokens.
- The Spending Limit: 13.0%, which means that no more than 13.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 250 wxDAI |
Challenge Deposit | 500 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Uzi - Random Fire
What is the overall Commons Configuration strategy?
First Attempt
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 10 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 20.00% |
Entry Tribute | 3.00% |
Exit Tribute | 25.00% |
*Reserve Ratio | 51.57% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 60% |
Minimum Quorum | 15% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 5 day(s) |
Minimum Conviction | 0.5% |
Spending Limit | 20.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Testing out various scenarios
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 10 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 0.00% | 1.00 wxDAI |
9 months | 100.00% | 0.00 wxDAI |
1 year | 100.00% | 0.00 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:
random test
Parameter | Value |
---|---|
Commons Tribute | 20.00% |
Entry Tribute | 3.00% |
Exit Tribute | 25.00% |
*Reserve Ratio | 51.57% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 252244.71 |
Reserve (Before Initial Buy) | 1008978.86 |
Common Pool (After Initial Buy) | 259744.71 |
Reserve (After Initial Buy) | 1251478.86 |
TEC Price vs ABC Reserve Holdings
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 | 1008978.86 | 1956421.69 | 1.0 | 250000.00 wxDAI | 7500.0 | 229850.80 TEC | 1.11 | 5.22% |
1 | 1251478.86 | 2186272.49 | 1.11 | 5000.00 wxDAI | 150.0 | 4365.51 TEC | 1.11 | 0.09% |
2 | 1256328.86 | 2190638.0 | 1.11 | 100000.00 wxDAI | 3000.0 | 85657.25 TEC | 1.15 | 1.80% |
3 | 1353328.86 | 2276295.25 | 1.15 | 3000.00 TEC | 103.69 | 3352.58 wxDAI | 1.15 | 0.06% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 181,141 | 0.11 | 19,391.01 |
50,000 | 415,419 | 0.23 | 96,951.46 |
100,000 | 593,929 | 0.33 | 193,902.03 |
200,000 | 849,148 | 0.46 | 387,803.14 |
300,000 | 1,046,642 | 0.56 | 581,704.32 |
400,000 | 1,214,038 | 0.64 | 775,605.54 |
500,000 | 1,362,107 | 0.71 | 969,506.65 |
600,000 | 1,496,398 | 0.78 | 1,163,407.75 |
700,000 | 1,620,218 | 0.84 | 1,357,308.91 |
800,000 | 1,735,727 | 0.89 | 1,551,210.12 |
900,000 | 1,844,430 | 0.95 | 1,745,111.23 |
1,000,000 | 1,947,424 | 1.00 | 1,939,012.29 |
1,250,000 | 2,184,940 | 1.11 | 2,423,765.37 |
1,500,000 | 2,400,355 | 1.21 | 2,908,518.19 |
1,750,000 | 2,598,972 | 1.31 | 3,393,271.05 |
2,000,000 | 2,784,259 | 1.39 | 3,878,023.92 |
2,500,000 | 3,123,839 | 1.55 | 4,847,529.80 |
3,000,000 | 3,431,821 | 1.70 | 5,817,035.46 |
3,500,000 | 3,715,787 | 1.83 | 6,786,541.12 |
4,000,000 | 3,980,694 | 1.95 | 7,756,047.05 |
5,000,000 | 4,466,197 | 2.17 | 9,695,058.47 |
7,500,000 | 5,504,943 | 2.64 | 14,542,587.46 |
10,000,000 | 6,385,385 | 3.04 | 19,390,116.59 |
15,000,000 | 7,870,495 | 3.70 | 29,085,174.02 |
20,000,000 | 9,129,274 | 4.25 | 38,780,232.14 |
50,000,000 | 14,644,163 | 6.62 | 96,950,579.34 |
100,000,000 | 20,936,966 | 9.26 | 193,901,158.84 |
Module 3: Tao Voting
Strategy:
trying various scenarios
Parameter | Value |
---|---|
Support Required | 60% |
Minimum Quorum | 15% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 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 | 7 days | 9 days |
Time to Review a Delegates Vote | 0 days | 2 days | 4 days |
Time to Execute a Passing Proposal | 6 days | 8 days | 10 days |
Module 4: Conviction Voting
Strategy:
just a shot
Parameter | Value |
---|---|
Conviction Growth | 5 day(s) |
Minimum Conviction | 0.5% |
Spending Limit | 20.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 8310 |
2 | 5,000 | 100,000 | 1,500,000 | 13333 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 7601 |
5 | 5,000 | 750,000 | 1,500,000 | 8026 |
6 | 25,000 | 750,000 | 1,500,000 | 10800 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 10 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 10 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: 20.00%, which means that 20.00% of the Hatch funds (252244.71 wxDAI) will go to the Common Pool and 80.00% (1008978.86 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 3.00% meaning that from every BUY order on the ABC, 3.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 25.00% meaning that from every SELL order on the ABC, 25.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 60%, which means 60% of all votes must be in favor of a proposal for it to pass.
- Minimum Quorum: 15%, meaning that 15% 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 5 day(s), meaning that Delegates will have 5 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: 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 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: 20.0%, which means that no more than 20.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
"The Fledge"
What is the overall Commons Configuration strategy?
After the Hatch, a bird needs to "Fledge" before it can fly. This proposal imagines a year of testing and learning that is heavily backed by impact investors before it eases into more market forces in year two, when the params would be significantly retooled.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.5 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 80.00% |
Entry Tribute | 30.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 8.60% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 40% |
Vote Duration | 10 day(s) |
Delegated Voting Period | 5 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 | 14 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 4.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
A $1.50 opening price gives a nice discount to Hatchers and contributors, while assuming early post-upgrade TEC purchasers are mission-driven thus less price-sensitive.
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1.5 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% | 1.50 wxDAI |
6 months | 0.00% | 1.50 wxDAI |
9 months | 0.00% | 1.50 wxDAI |
1 year | 0.00% | 1.50 wxDAI |
1.5 years | 50.00% | 0.75 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:
The 80% initial tribute makes us unabashedly an impact investment. Impact investors care about impact and don't want to pay to fund reserves to lower the volatility. Another effect of the low reserve is high slippage, which makes it expensive and thus unattractive for non-aligned, purely speculative whales to suddenly buy up large shares in ways that might harm the mission and the community. Impact investors will care less about slippage, since that money goes to the TEC, which they are backing for impact. Oh, did I mention it's a million dollar fund. Nice.
Yeah, 30% entry tribute is a big cut. But remember, we're an impact investment. We pitch that the 30% is an investment that they make in public goods and we take it off the top while they're still excited. There's no exit tribute. We get the investment up front, not when they're trying to get out and may have reasons for leaving anyway.
Plus we don't want contributors to have to pay a "tax" when they cash on their contributions of effort.
This proposal assumes that the entry tribute does not impact contributors (for at least as long are our initial buy-in rewards funding lasts).
A large tribute does create risk of arbitrage, so this proposal envisions restricting trading in secondary liquidity markets -- just for the first year, while we "fledge."
Parameter | Value |
---|---|
Commons Tribute | 80.00% |
Entry Tribute | 30.00% |
Exit Tribute | 0.00% |
*Reserve Ratio | 8.60% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 1008978.86 |
Reserve (Before Initial Buy) | 252244.71 |
Common Pool (After Initial Buy) | 1083978.86 |
Reserve (After Initial Buy) | 427244.71 |
TEC Price vs ABC Reserve Holdings
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 | 252244.71 | 1956421.69 | 1.5 | 250000.00 wxDAI | 75000.0 | 90652.31 TEC | 2.43 | 22.30% |
1 | 427244.71 | 2047073.99 | 2.43 | 5000.00 wxDAI | 1500.0 | 1436.06 TEC | 2.45 | 0.37% |
2 | 430744.71 | 2048510.05 | 2.45 | 100000.00 wxDAI | 30000.0 | 26686.38 TEC | 2.81 | 6.74% |
3 | 500744.71 | 2075196.43 | 2.81 | 3000.00 TEC | 2507.24 | 5850.22 wxDAI | 2.76 | 0.77% |
4 | 492387.25 | 2072196.43 | 2.76 | 5000.00 wxDAI | 1500.0 | 1261.98 TEC | 2.78 | 0.32% |
5 | 495887.25 | 2073458.42 | 2.78 | 100000.00 wxDAI | 30000.0 | 23667.74 TEC | 3.14 | 5.92% |
6 | 565887.25 | 2097126.15 | 3.14 | 3000.00 TEC | 2804.01 | 6542.68 wxDAI | 3.09 | 0.76% |
7 | 556540.57 | 2094126.15 | 3.09 | 100000.00 wxDAI | 30000.0 | 21434.11 TEC | 3.45 | 5.33% |
8 | 626540.57 | 2115560.26 | 3.45 | 3000.00 TEC | 3077.7 | 7181.30 wxDAI | 3.39 | 0.75% |
9 | 616281.57 | 2112560.26 | 3.39 | 1.00 TEC | 1.02 | 2.38 wxDAI | 3.39 | 0.00% |
10 | 616278.18 | 2112559.26 | 3.39 | 100000.00 wxDAI | 30000.0 | 19626.23 TEC | 3.74 | 4.84% |
11 | 686278.18 | 2132185.5 | 3.74 | 750000.00 wxDAI | 225000.0 | 106709.38 TEC | 6.29 | 23.89% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,482,482 | 0.08 | 116,402.42 |
50,000 | 1,702,366 | 0.34 | 581,763.01 |
100,000 | 1,806,866 | 0.64 | 1,163,464.67 |
200,000 | 1,917,785 | 1.21 | 2,326,873.83 |
300,000 | 1,985,799 | 1.76 | 3,490,265.05 |
400,000 | 2,035,514 | 2.29 | 4,653,670.95 |
500,000 | 2,074,933 | 2.80 | 5,817,088.55 |
600,000 | 2,107,705 | 3.31 | 6,980,491.80 |
700,000 | 2,135,818 | 3.81 | 8,143,886.79 |
800,000 | 2,160,472 | 4.31 | 9,307,262.70 |
900,000 | 2,182,456 | 4.80 | 10,470,676.89 |
1,000,000 | 2,202,311 | 5.28 | 11,634,128.39 |
1,250,000 | 2,244,959 | 6.48 | 14,542,585.34 |
1,500,000 | 2,280,418 | 7.65 | 17,451,143.24 |
1,750,000 | 2,310,834 | 8.81 | 20,359,649.36 |
2,000,000 | 2,337,510 | 9.95 | 23,268,198.19 |
2,500,000 | 2,382,776 | 12.21 | 29,085,132.03 |
3,000,000 | 2,420,412 | 14.42 | 34,902,207.18 |
3,500,000 | 2,452,695 | 16.60 | 40,719,184.36 |
4,000,000 | 2,481,008 | 18.76 | 46,536,273.73 |
5,000,000 | 2,529,054 | 23.00 | 58,170,336.16 |
7,500,000 | 2,618,748 | 33.32 | 87,255,183.29 |
10,000,000 | 2,684,312 | 43.34 | 116,340,669.46 |
15,000,000 | 2,779,513 | 62.78 | 174,510,739.74 |
20,000,000 | 2,849,101 | 81.67 | 232,680,998.49 |
50,000,000 | 3,082,566 | 188.71 | 581,701,782.79 |
100,000,000 | 3,271,805 | 355.59 | 1,163,406,122.26 |
Module 3: Tao Voting
Strategy:
My quick analysis of TEC Snapshot votes is that we've averaged 29% participation (by tokens, not people). We should be able to achieve higher than that, and should push for high community participation, on votes affecting our essential economic design.
These votes are on the longish side but given the types of votes we're making under TAO voting, I think we need more time for community evaluation and discussion.
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 40% |
Vote Duration | 10 day(s) |
Delegated Voting Period | 5 day(s) |
Quiet Ending Period | 2 day(s) |
Quiet Ending Extension | 2 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 | 10 days | 12 days | 14 days |
Time to Review a Delegates Vote | 5 days | 7 days | 9 days |
Time to Execute a Passing Proposal | 11 days | 13 days | 15 days |
Module 4: Conviction Voting
Strategy:
The 4% limit is designed to encourage milestones, and breaking projects up into smaller phases with deliverables that can be assessed by the community as they go -- especially in this first year. Assuming a million dollar pool, $40K should be the max and we want to encourage in one step.
At a conviction level of 3, funding proposals can be approved with 10X the amount requested sitting in conviction for one month. That sounds about the right flow and spend rate.
The bulk of the conviction matures within one month, which is perhaps a slower pace than we may have first imagined. But from the lens of Fledging, it is good to be deliberate as we learn to fly. We don't want to run out of funds too quickly. Conviction voting gets a lot harder when the pool shrinks!
Parameter | Value |
---|---|
Conviction Growth | 14 day(s) |
Minimum Conviction | 3.0% |
Spending Limit | 4.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 80000 |
2 | 5,000 | 100,000 | 1,500,000 | Not possible |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 48156 |
5 | 5,000 | 750,000 | 1,500,000 | 64800 |
6 | 25,000 | 750,000 | 1,500,000 | Not possible |
7 | 15,000 | 1,000,000 | 1,500,000 | 115199 |
8 | 17,000 | 1,000,000 | 1,500,000 | 136105 |
9 | 2,500 | 1,000,000 | 1,000,000 | 34133 |
10 | 20,000 | 1,000,000 | 1,500,000 | 180000 |
11 | 20,000 | 50,000 | 1,500,000 | Not possible |
12 | 20,000 | 500,000 | 1,500,000 | Not possible |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 52 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 52 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: 1.5 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.5 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 80.00%, which means that 80.00% of the Hatch funds (1008978.86 wxDAI) will go to the Common Pool and 20.00% (252244.71 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 30.00% meaning that from every BUY order on the ABC, 30.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 0.00% meaning that from every SELL order on the ABC, 0.00% 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: 40%, meaning that 40% of all tokens need to have voted on a proposal in order for it to become valid.
- Vote Duration: 10 day(s), meaning that eligible voters will have 10 day(s) to vote on a proposal.
- Delegated Voting Period is set for 5 day(s), meaning that Delegates will have 5 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 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: 14 day(s), meaning that voting power will increase by 50% every 14 days that they are staked behind a proposal, so after 20 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 3.0%, this means that to pass any funding request it will take at least 3.0% of the actively voting TEC tokens.
- The Spending Limit: 4.0%, which means that no more than 4.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 250 wxDAI |
Challenge Deposit | 500 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
Xanadu: some orogeny, some casino, some Orson Welles
What is the overall Commons Configuration strategy?
not a fork, but taking what I like the most from the Orogeny and Casino proposals and mixing it with some Orson mood
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 1.7 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 45.00% |
Entry Tribute | 5.00% |
Exit Tribute | 3.00% |
*Reserve Ratio | 20.86% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 2 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 90 day(s) |
Minimum Conviction | 0.8% |
Spending Limit | 18.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
A low opening price considering the initial buy-in, year and a half of vesting for having rotation in our governance (most hatchers will be in the TEC for 2 years by the time thaw ends)
Parameter | Value |
---|---|
Token Freeze | 52 Weeks |
Token Thaw | 26 Weeks |
Opening Price | 1.7 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% | 1.70 wxDAI |
6 months | 0.00% | 1.70 wxDAI |
9 months | 0.00% | 1.70 wxDAI |
1 year | 0.00% | 1.70 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:
Start with the necessary funds for initial projects and an 8% tribute that lets people exit easier.
Parameter | Value |
---|---|
Commons Tribute | 45.00% |
Entry Tribute | 5.00% |
Exit Tribute | 3.00% |
*Reserve Ratio | 20.86% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 567550.61 |
Reserve (Before Initial Buy) | 693672.96 |
Common Pool (After Initial Buy) | 580050.61 |
Reserve (After Initial Buy) | 931172.96 |
TEC Price vs ABC Reserve Holdings
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 | 693672.96 | 1956421.69 | 1.7 | 250000.00 wxDAI | 12500.0 | 123911.80 TEC | 2.15 | 11.31% |
1 | 931172.96 | 2080333.49 | 2.15 | 5000.00 wxDAI | 250.0 | 2208.84 TEC | 2.15 | 0.20% |
2 | 935922.96 | 2082542.33 | 2.15 | 100000.00 wxDAI | 5000.0 | 42417.43 TEC | 2.33 | 3.79% |
3 | 1030922.96 | 2124959.76 | 2.33 | 3000.00 TEC | 347.98 | 6611.71 wxDAI | 2.31 | 0.27% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 808,123 | 0.06 | 47,955.51 |
50,000 | 1,130,433 | 0.21 | 239,741.08 |
100,000 | 1,306,255 | 0.37 | 479,473.21 |
200,000 | 1,509,425 | 0.64 | 958,937.86 |
300,000 | 1,642,623 | 0.88 | 1,438,401.99 |
400,000 | 1,744,198 | 1.10 | 1,917,866.62 |
500,000 | 1,827,292 | 1.31 | 2,397,332.37 |
600,000 | 1,898,114 | 1.52 | 2,876,795.05 |
700,000 | 1,960,131 | 1.71 | 3,356,261.80 |
800,000 | 2,015,488 | 1.90 | 3,835,725.00 |
900,000 | 2,065,612 | 2.09 | 4,315,187.26 |
1,000,000 | 2,111,506 | 2.27 | 4,794,651.72 |
1,250,000 | 2,212,098 | 2.71 | 5,993,316.31 |
1,500,000 | 2,297,835 | 3.13 | 7,191,976.26 |
1,750,000 | 2,372,912 | 3.54 | 8,390,640.29 |
2,000,000 | 2,439,927 | 3.93 | 9,589,297.00 |
2,500,000 | 2,556,165 | 4.69 | 11,986,623.79 |
3,000,000 | 2,655,238 | 5.42 | 14,383,942.95 |
3,500,000 | 2,741,993 | 6.12 | 16,781,271.17 |
4,000,000 | 2,819,430 | 6.80 | 19,178,585.42 |
5,000,000 | 2,953,749 | 8.12 | 23,973,237.74 |
7,500,000 | 3,214,401 | 11.19 | 35,959,840.35 |
10,000,000 | 3,413,172 | 14.05 | 47,946,473.40 |
15,000,000 | 3,714,366 | 19.36 | 71,919,675.81 |
20,000,000 | 3,944,052 | 24.31 | 95,892,903.51 |
50,000,000 | 4,774,627 | 50.21 | 239,732,261.92 |
100,000,000 | 5,517,267 | 86.90 | 479,464,632.87 |
Module 3: Tao Voting
Strategy:
8 days minimum :)
Parameter | Value |
---|---|
Support Required | 88% |
Minimum Quorum | 8% |
Vote Duration | 6 day(s) |
Delegated Voting Period | 4 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 2 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 | 6 days | 8 days | 10 days |
Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
Time to Execute a Passing Proposal | 8 days | 10 days | 12 days |
Module 4: Conviction Voting
Strategy:
18% spending limit because the commons tribute isn't too high, so it's better to have many small good projects than funding a few large ones
Parameter | Value |
---|---|
Conviction Growth | 90 day(s) |
Minimum Conviction | 0.8% |
Spending Limit | 18.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 13453 |
2 | 5,000 | 100,000 | 1,500,000 | 23005 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 12179 |
5 | 5,000 | 750,000 | 1,500,000 | 12940 |
6 | 25,000 | 750,000 | 1,500,000 | 18074 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- Token Freeze: 52 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 52 weeks. They can still be used to vote while frozen.
- Token Thaw: 26 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 26 weeks later.
- Opening Price: 1.7 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.7 wxDAI making it the price floor during the Token Freeze.
Augmented Bonding Curve (ABC)
- Commons Tribute: 45.00%, which means that 45.00% of the Hatch funds (567550.61 wxDAI) will go to the Common Pool and 55.00% (693672.96 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 5.00% meaning that from every BUY order on the ABC, 5.00% 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: 6 day(s), meaning that eligible voters will have 6 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: 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: 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: 2 day(s), meaning that there is an 2 day delay after the vote is passed before the proposed action is executed.
Conviction Voting
- Conviction Growth: 90 day(s), meaning that voting power will increase by 50% every 90 days that they are staked behind a proposal, so after 12 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 0.8%, this means that to pass any funding request it will take at least 0.8% of the actively voting TEC tokens.
- The Spending Limit: 18.0%, which means that no more than 18.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
$1 Gambit for $1,000,000 Goldilocks Faster Orogeny
What is the overall Commons Configuration strategy?
This is a fork of $1 Gambit for $1,000,000 Goldilocks Orogeny with faster CV
The original proposal that was forked was merging of The Bolshevik's Gambit fork with Lower Min. Quorum #72's Token Thaw and Tao Voting (with a few tweaks) and Goldilocks' Million Dollar Entry into Orogeny #71 CV and ABC with a few tweaks
So shout out to Juanka, Angela, Lauren, Mitch, Nate, Zep and Tam who all influenced this config.
This Proposal expects a strong community that can coordinate to pass both Tao Voting and Conviction Voting Proposals. The real things to note about this proposal is the ~1 million dollar Common Pool, the Strategy around the Entry and Exit Tributes, the 5 day voting period, $1 opening price and the lowish Reserve Ratio.
This proposal has a high entry tribute to attract value aligned participants that missed the Hatch and are smart enough to see that the low reserve ratio will still allow them to make a profit if they get in early. With this strategy, we should change the Tributes every month so that they gradually go from 22% and 2% to 2% and 12% in 5 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.
If we are smart, we should make an agreement to set the Entry Tribute to 100% when we reach a 40 Mil Market Cap so that the bonding curve can act as a parachute if the Price crashes but we stop printing TEC once we are large enough and don't need the liquidity protection of the bonding curve.
The CV Params are set so that it takes a week to pass any serious proposal with 15-20% of token holders sitting with their tokens behind the proposal, but with a higher Minimum Conviction and faster Conviction Growth and a smaller Spending Limit. This will make the Token holders have to coordinate (without having to talk) to pass proposals.... I can imagine that we will want to post the Passing and Leading proposals that have a lot of voting power behind them every week to aid voters in coordinating around advancing token engineering.
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 16.12% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 11.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
We have supreme confidence in our plan to create an amazing Commons and generate value. 6 months Freeze is a reasonable amount of time in crypto to hold tokens. That being said, a year of Thaw means that TEC holder's will be very unikely to sell their Tokens for a while since so little will be available. If they intend to sell they will wait and speculate a bit longer.
By setting the price at $1 we recognize that there are more TEC friends out there that could try to jump in ASAP.
This low opening price is fine because Hatcher's are true believers in the cause, in the collective well being of the Commons and spreading its ideology.
Parameter | Value |
---|---|
Token Freeze | 26 Weeks |
Token Thaw | 52 Weeks |
Opening Price | 1 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% | 1.00 wxDAI |
6 months | 0.00% | 1.00 wxDAI |
9 months | 25.00% | 0.75 wxDAI |
1 year | 50.00% | 0.50 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:
Even with a low Reserve (~315k) the reserve ratio is above 15%. This allows for the price to grow at a fast rate and give people that crypto feel... but isn't a DAO casino, not the slightest. The 250k initial buy only changes the price 50 cents. Giving the hatchers a 50% profit out the gate.
A 5k buy changes the price 1 penny.
A 20k Buy changes the price 4 cents and experience 1% slippage
This is just right!
The Commons Tribute and Entry Tribute are set so that there is about ~1 mil in the Common Pool after the initial buy.
This gives us a nice runway to get a jumpstart on Advancing Token Engineering!
The Entry Tribute (22%) 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 if this proposal is chosen we should plan to reduce the entry tribute 4% and raise the exit tribute 2% every month until the tributes end up as 2% entry and 12% exit after 5 months.
If we lower it 4% a month... we only have to sell ~40k worth of tokens every month for it to make sense to speculate on the token. I think this is very doable.
The Reserve Ratio is low but it's not a DAO Casino and with a $1 opening price we can have a normal lockup time and room to grow.
Parameter | Value |
---|---|
Commons Tribute | 75.00% |
Entry Tribute | 22.00% |
Exit Tribute | 2.00% |
*Reserve Ratio | 16.12% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 945917.68 |
Reserve (Before Initial Buy) | 315305.89 |
Common Pool (After Initial Buy) | 1000917.68 |
Reserve (After Initial Buy) | 510305.89 |
TEC Price vs ABC Reserve Holdings
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 | 315305.89 | 1956421.69 | 1.0 | 250000.00 wxDAI | 55000.0 | 157854.61 TEC | 1.5 | 19.05% |
1 | 510305.89 | 2114276.3 | 1.5 | 5000.00 wxDAI | 1100.0 | 2595.84 TEC | 1.51 | 0.32% |
2 | 514205.89 | 2116872.13 | 1.51 | 100000.00 wxDAI | 22000.0 | 48735.46 TEC | 1.7 | 5.83% |
3 | 592205.89 | 2165607.59 | 1.7 | 3000.00 TEC | 1115.84 | 3956.16 wxDAI | 1.68 | 0.36% |
4 | 587133.89 | 2162607.59 | 1.68 | 10000.00 wxDAI | 2200.0 | 4604.66 TEC | 1.7 | 0.55% |
5 | 594933.89 | 2167212.25 | 1.7 | 20000.00 wxDAI | 4400.0 | 9059.42 TEC | 1.74 | 1.08% |
6 | 610533.89 | 2176271.67 | 1.74 | 40000.00 wxDAI | 8800.0 | 17551.14 TEC | 1.82 | 2.08% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,121,858 | 0.06 | 62,064.45 |
50,000 | 1,454,028 | 0.21 | 310,257.95 |
100,000 | 1,625,872 | 0.38 | 620,499.52 |
200,000 | 1,818,029 | 0.68 | 1,240,982.45 |
300,000 | 1,940,797 | 0.96 | 1,861,464.95 |
400,000 | 2,032,898 | 1.22 | 2,481,949.25 |
500,000 | 2,107,337 | 1.47 | 3,102,431.82 |
600,000 | 2,170,177 | 1.72 | 3,722,915.36 |
700,000 | 2,224,768 | 1.95 | 4,343,401.31 |
800,000 | 2,273,164 | 2.18 | 4,963,878.13 |
900,000 | 2,316,726 | 2.41 | 5,584,361.60 |
1,000,000 | 2,356,401 | 2.63 | 6,204,851.05 |
1,250,000 | 2,442,686 | 3.18 | 7,756,055.56 |
1,500,000 | 2,515,526 | 3.70 | 9,307,269.09 |
1,750,000 | 2,578,804 | 4.21 | 10,858,476.01 |
2,000,000 | 2,634,902 | 4.71 | 12,409,685.18 |
2,500,000 | 2,731,385 | 5.68 | 15,512,088.76 |
3,000,000 | 2,812,834 | 6.62 | 18,614,515.88 |
3,500,000 | 2,883,591 | 7.53 | 21,716,945.27 |
4,000,000 | 2,946,320 | 8.42 | 24,819,350.86 |
5,000,000 | 3,054,206 | 10.16 | 31,024,191.10 |
7,500,000 | 3,260,453 | 14.27 | 46,536,285.84 |
10,000,000 | 3,415,181 | 18.17 | 62,048,361.54 |
15,000,000 | 3,645,804 | 25.53 | 93,072,524.01 |
20,000,000 | 3,818,819 | 32.50 | 124,096,744.36 |
50,000,000 | 4,426,525 | 70.09 | 310,241,774.23 |
100,000,000 | 4,949,693 | 125.36 | 620,483,539.50 |
Module 3: Tao Voting
Strategy:
Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made! That said, 10% is fair.
A quick-er vote duration means we could wrap up and execute votes within 5.5 days. If there's any contention 2 days are added to the vote so we have ample time for more participation.
A 12 hour minimum execution delay is given that there is a 3 day quiet ending period so people won't be surprised by an outcome... and anyone who REALLY cares would never be asleep after the outcome is certain but before it's execution.
Parameter | Value |
---|---|
Support Required | 85% |
Minimum Quorum | 10% |
Vote Duration | 5 day(s) |
Delegated Voting Period | 3 day(s) |
Quiet Ending Period | 3 day(s) |
Quiet Ending Extension | 2 day(s) |
Execution Delay | 0.5 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 | 7 days | 9 days |
Time to Review a Delegates Vote | 2 days | 4 days | 6 days |
Time to Execute a Passing Proposal | 5.5 days | 7.5 days | 9.5 days |
Module 4: Conviction Voting
Strategy:
Goldilocks' Million Dollar Entry into Orogeny CV Params
With the conviction voting module, I set the Spending Limit at 11% ensuring that we can fund 40k-70k proposals if we need to given our large Common Pool (it would take 26.7% of the tokens 2 weeks to pass a 48k proposal). These are of course inspired by Nate's Orogeny params with a low Minimum Conviction (1%) and high Conviction Growth (60 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.
Most proposals asking for 1-4% of the Common Pool will take 8-15% of tokens holding conviction for 1-2 weeks to pass a proposal.
But also if there is a big push to spend money fast, it is possible to pass proposals in a day and it doesn't get much easier to pass proposals after a month.
Parameter | Value |
---|---|
Conviction Growth | 7 day(s) |
Minimum Conviction | 4.0% |
Spending Limit | 11.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 72599 |
2 | 5,000 | 100,000 | 1,500,000 | 201666 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 61481 |
5 | 5,000 | 750,000 | 1,500,000 | 67991 |
6 | 25,000 | 750,000 | 1,500,000 | 123516 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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 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: 75.00%, which means that 75.00% of the Hatch funds (945917.68 wxDAI) will go to the Common Pool and 25.00% (315305.89 wxDAI) will go to the ABC's Reserve.
- Entry Tribute: 22.00% meaning that from every BUY order on the ABC, 22.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 2.00% meaning that from every SELL order on the ABC, 2.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 85%, which means 85% 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 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: 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 day(s), meaning that there is an 0.5 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 10 days, a voters voting power will have reached 75% of it's maximum capacity.
- Minimum Conviction: 4.0%, this means that to pass any funding request it will take at least 4.0% of the actively voting TEC tokens.
- The Spending Limit: 11.0%, which means that no more than 11.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
An attempt to create a 1.5 M Economy
What is the overall Commons Configuration strategy?
FORK THIS PROPOSAL (link)
Summary
Module 1: Token Freeze & Token Thaw
Parameter | Value |
---|---|
Token Freeze | 24 Weeks |
Token Thaw | 48 Weeks |
Opening Price | 1.7 wxDAI |
Module 2: Augmented Bonding Curve
Parameter | Value |
---|---|
Commons Tribute | 60.00% |
Entry Tribute | 5.00% |
Exit Tribute | 7.00% |
*Reserve Ratio | 15.17% |
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 20% |
Vote Duration | 15 day(s) |
Delegated Voting Period | 10 day(s) |
Quiet Ending Period | 5 day(s) |
Quiet Ending Extension | 3 day(s) |
Execution Delay | 1 day(s) |
Module 4: Conviction Voting
Parameter | Value |
---|---|
Conviction Growth | 15 day(s) |
Minimum Conviction | 5.0% |
Spending Limit | 35.0% |
Module 1: Token Freeze and Token Thaw
Strategy:
Taking almost a year/ year and a half to be tradeable seems to be fair enough for really actively and engage with this process.
24 weeks for token freeze to finally initialize is a great time to keep it in equilibirum with the opening Price of 1.7 wxDAI.
Parameter | Value |
---|---|
Token Freeze | 24 Weeks |
Token Thaw | 48 Weeks |
Opening Price | 1.7 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% | 1.70 wxDAI |
6 months | 4.17% | 1.63 wxDAI |
9 months | 31.25% | 1.17 wxDAI |
1 year | 58.33% | 0.71 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:
60% seems to be enough to hatch and also to keep a remaining percentage to the reserve pool.
A low entry tribute will be atractive for potential buyers to participate while a with a little bit high exit tribute of 7% will reduce an individual’s willingness to exit being at the same time a fair amount to allow new funding for the Common Pool.
Parameter | Value |
---|---|
Commons Tribute | 60.00% |
Entry Tribute | 5.00% |
Exit Tribute | 7.00% |
*Reserve Ratio | 15.17% |
*This is an output. Learn more about the Reserve Ratio here.
Allocation of Funds | wxDAI |
---|---|
Common Pool (Before Initial Buy) | 756734.14 |
Reserve (Before Initial Buy) | 504489.43 |
Common Pool (After Initial Buy) | 769234.14 |
Reserve (After Initial Buy) | 741989.43 |
TEC Price vs ABC Reserve Holdings
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 | 1.7 | 250000.00 wxDAI | 12500.0 | 117901.95 TEC | 2.36 | 15.61% |
1 | 741989.43 | 2074323.63 | 2.36 | 5000.00 wxDAI | 250.0 | 2008.80 TEC | 2.37 | 0.27% |
2 | 746739.43 | 2076332.43 | 2.37 | 100000.00 wxDAI | 5000.0 | 38060.87 TEC | 2.62 | 5.01% |
3 | 841739.43 | 2114393.3 | 2.62 | 3000.00 TEC | 392.12 | 7450.29 wxDAI | 2.6 | 0.40% |
ABC Overview
Reserve (wxDai) | Supply (TEC) | Price (wxDai/TEC) | Market cap |
---|---|---|---|
10,000 | 1,079,406 | 0.06 | 65,944.80 |
50,000 | 1,377,821 | 0.24 | 329,649.68 |
100,000 | 1,530,568 | 0.43 | 659,281.10 |
200,000 | 1,700,252 | 0.78 | 1,318,545.15 |
300,000 | 1,808,103 | 1.09 | 1,977,809.18 |
400,000 | 1,888,749 | 1.40 | 2,637,068.63 |
500,000 | 1,953,772 | 1.69 | 3,296,338.03 |
600,000 | 2,008,558 | 1.97 | 3,955,595.22 |
700,000 | 2,056,076 | 2.24 | 4,614,860.94 |
800,000 | 2,098,145 | 2.51 | 5,274,122.49 |
900,000 | 2,135,967 | 2.78 | 5,933,386.66 |
1,000,000 | 2,170,377 | 3.04 | 6,592,648.16 |
1,250,000 | 2,245,096 | 3.67 | 8,240,811.69 |
1,500,000 | 2,308,051 | 4.28 | 9,888,966.99 |
1,750,000 | 2,362,654 | 4.88 | 11,537,118.47 |
2,000,000 | 2,410,998 | 5.47 | 13,185,295.98 |
2,500,000 | 2,494,000 | 6.61 | 16,481,595.92 |
3,000,000 | 2,563,935 | 7.71 | 19,777,933.25 |
3,500,000 | 2,624,592 | 8.79 | 23,074,253.53 |
4,000,000 | 2,678,294 | 9.85 | 26,370,548.24 |
5,000,000 | 2,770,498 | 11.90 | 32,963,177.04 |
7,500,000 | 2,946,240 | 16.78 | 49,444,763.55 |
10,000,000 | 3,077,652 | 21.42 | 65,926,379.57 |
15,000,000 | 3,272,877 | 30.21 | 98,889,528.26 |
20,000,000 | 3,418,857 | 38.57 | 131,852,697.52 |
50,000,000 | 3,928,640 | 83.90 | 329,631,655.33 |
100,000,000 | 4,364,191 | 151.06 | 659,263,626.52 |
Module 3: Tao Voting
Strategy:
I think it is okay to set it to happen in 15 days / 10 days to modify any settings post-upgrade if needed, that's enough time to understand the decisions and the importance (including the delegated voting period).
Parameter | Value |
---|---|
Support Required | 80% |
Minimum Quorum | 20% |
Vote Duration | 15 day(s) |
Delegated Voting Period | 10 day(s) |
Quiet Ending Period | 5 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 | 15 days | 18 days | 21 days |
Time to Review a Delegates Vote | 5 days | 8 days | 11 days |
Time to Execute a Passing Proposal | 16 days | 19 days | 22 days |
Module 4: Conviction Voting
Strategy:
I consider that having a spending limit of 35% is appropiated for a single proposal, with a minimum conviction of 5% that will make possible for proposals to be passed faster at the begining and with a conviction growth of 15 days set would prevent last minute vote swings.
Parameter | Value |
---|---|
Conviction Growth | 15 day(s) |
Minimum Conviction | 5.0% |
Spending Limit | 35.0% |
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.
Example Funding Request Data
Proposal | Requested Amount (wxDAI) | Common Pool (wxDAI) | Effective supply (TEC) | Tokens Needed To Pass (TEC) |
---|---|---|---|---|
1 | 1,000 | 100,000 | 1,500,000 | 79476 |
2 | 5,000 | 100,000 | 1,500,000 | 102083 |
3 | 25,000 | 100,000 | 1,500,000 | Not possible |
4 | 1,000 | 750,000 | 1,500,000 | 75574 |
5 | 5,000 | 750,000 | 1,500,000 | 77940 |
6 | 25,000 | 750,000 | 1,500,000 | 91620 |
FORK THIS PROPOSAL (link)
Parameter Definitions
Token Freeze and Token Thaw
- 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: 48 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 48 weeks later.
- Opening Price: 1.7 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.7 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: 5.00% meaning that from every BUY order on the ABC, 5.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
- Exit Tribute: 7.00% meaning that from every SELL order on the ABC, 7.00% of the order value in wxDAI is subtracted and sent to the Common Pool.
Tao Voting
- Support Required: 80%, which means 80% 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: 15 day(s), meaning that eligible voters will have 15 day(s) to vote on a proposal.
- Delegated Voting Period is set for 10 day(s), meaning that Delegates will have 10 day(s) to use their delegated voting power to vote on a proposal.
- Quiet Ending Period: 5 day(s), this means that 5 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: 15 day(s), meaning that voting power will increase by 50% every 15 days that they are staked behind a proposal, so after 30 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: 35.0%, which means that no more than 35.0% of the total funds in the Common Pool can be funded by a single proposal.
Advanced Settings*
Parameter | Value |
---|---|
HNY Liquidity | 100 wxDAI |
Garden Liquidity | 1 TEC |
Virtual Supply | 1 TEC |
Virtual Balance | 1 wxDAI |
Transferable | True |
Token Name | Token Engineering Commons |
Token Symbol | TEC |
Proposal Deposit | 200 wxDAI |
Challenge Deposit | 400 wxDAI |
Settlement Period | 5 days |
Minimum Effective Supply | 1.0% |
Hatchers Rage Quit | 60000 wxDAI |
Initial Buy | 250000 wxDAI |
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
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