You can't reach the moon without aiming for the stars

[tecparamsbot]

What is the overall Commons Configuration strategy?

I attempted to incentivize a dao-first strategy. One that creates a large secure reserve and imposes small limits on withdrawls to fund external projects. I also pushed for shorter overall voting times and a very high initial price. Large values to help demonstrate the system.

Advanced Settings Modified? Yes

FORK THIS PROPOSAL (link)

Summary

Module 1: Token Freeze & Token Thaw

Parameter	Value
Token Freeze	10 Weeks
Token Thaw	52 Weeks
Opening Price	1.99 wxDAI

Module 2: Augmented Bonding Curve

Parameter	Value
Commons Tribute	35.00%
Entry Tribute	1.10%
Exit Tribute	5.00%
*Reserve Ratio	21.06%

*This is an output. Learn more about the Reserve Ratio here.

Module 3: Tao Voting

Parameters	Value
Support Required	95%
Minimum Quorum	20%
Vote Duration	5 days(s)
Delegated Voting Period	3 day(s)
Quiet Ending Period	2 day(s)
Quiet Ending Extension	2 day(s)
Execution Delay	1 day(s)

Module 4: Conviction Voting

Parameter	Value
Conviction Growth	4 day(s)
Minimum Conviction	0.2%
Spending Limit	10.0%

Module 1: Token Freeze and Token Thaw

Data:

This is the theoretical Price Floor for TEC. It would only be reached if all tokens that were liquid were burned and no liquid tokens existed, which is very unlikely to occur.

Duration	% of Tokens Released	Price Floor of Token
3 months	5.77%	1.88 wxDAI
6 months	30.77%	1.38 wxDAI
9 months	55.77%	0.88 wxDAI
1 year	80.77%	0.38 wxDAI
1.5 years	100.00%	0.00 wxDAI
2 years	100.00%	0.00 wxDAI
3 years	100.00%	0.00 wxDAI
4 years	100.00%	0.00 wxDAI
5 years	100.00%	0.00 wxDAI

• Token Freeze: 10 weeks, meaning that 100% of TEC tokens minted for Hatchers will remain locked from being sold or transferred for 10 weeks. They can still be used to vote while frozen.
• Token Thaw: 52 weeks, meaning the Hatchers frozen tokens will start to become transferable at a steady rate starting at the end of Token Freeze and ending 52 weeks later.
• Opening Price: 1.99 wxDAI, meaning for the initial buy, the first TEC minted by the Augmented Bonding Curve will be priced at 1.99 wxDAI making it the price floor during the Token Freeze.

Strategy:

I wanted to start with a high price.

Module 2: Augmented Bonding Curve (ABC)

Data:

This shows how the TEC Price changes with the ABC's Reserve Balance, highlighting the Initial Buy that will happen at launch.

Step #	Current Price	Amount In	Tribute Collected	Amount Out	New Price	Price Slippage
Step 1	2.45	5000.00 wxDAI	55.0	2014.41 TEC	2.46	0.18%
Step 2	2.46	50000.00 TEC	1292.71	116226.50 wxDAI	2.24	4.43%
Step 3	2.24	3000.00 wxDAI	33.0	1320.64 TEC	2.25	0.12%
Step 4	2.25	-10000.00 wxDAI	-110.0	-4414.78 TEC	2.23	-0.41%

NOTE:

We're very bullish on TEC so we provide the BUY scenario at launch to compare proposals... to explore this proposal's ABC further Click the link below to see their parameters in your dashboard, be warned this will clear any data you have in your dashboard:

FORK THIS PROPOSAL (link)

Allocation of Funds	wxDAI
Common Pool (Before Initial Buy)	441428.25
Reserve (Before Initial Buy)	819795.32
Common Pool (After Initial Buy)	444178.25
Reserve (After Initial Buy)	1067045.32

ABC Configuration Table

Reserve (wxDai)	Supply (TEC)	Price (wxDai/TEC)
10,000	773,600	0.06
50,000	1,085,633	0.22
100,000	1,256,227	0.38
200,000	1,453,631	0.65
300,000	1,583,189	0.90
400,000	1,682,057	1.13
500,000	1,762,977	1.35
600,000	1,831,975	1.56
700,000	1,892,414	1.76
800,000	1,946,379	1.95
900,000	1,995,255	2.14
1,000,000	2,040,015	2.33
1,250,000	2,138,156	2.78
1,500,000	2,221,837	3.21
1,750,000	2,295,139	3.62
2,000,000	2,360,588	4.02
2,500,000	2,474,151	4.80
3,000,000	2,570,983	5.54
3,500,000	2,655,803	6.26
4,000,000	2,731,537	6.95
5,000,000	2,862,946	8.29
7,500,000	3,118,115	11.42
10,000,000	3,312,837	14.34
15,000,000	3,608,104	19.74
20,000,000	3,833,425	24.78
50,000,000	4,649,218	51.07
100,000,000	5,379,809	88.28

• Commons Tribute: 35.00%, which means that 35.00% of the Hatch funds (441428.25 wxDAI) will go to the Common Pool and 65.00% (819795.32 wxDAI) will go to the ABC's Reserve.
• Entry Tribute: 1.10% meaning that from every BUY order on the ABC, 1.10% of the order value in wxDAI is subtracted and sent to the Common Pool.
• Exit Tribute: 5.00% meaning that from every SELL order on the ABC, 5.00% of the order value in wxDAI is subtracted and sent to the Common Pool.

Strategy:

Wabted to create a large dao reserve, cheap proposals and easy exits.

Module 3: Tao Voting

Data:

This shows how the timeline stacks up for decision votes that can change the configuration after launch.

# of Quiet Ending Extensions	No Extensions	With 1 Extension	With 2 Extensions
Time to Vote on Proposals	5 days	7 days	9 days
Time to Review a Delegates Vote	2 days	4 days	6 days
Time to Execute a Passing Proposal	6 days	8 days	10 days

• Support Required: 95%, which means 95% of all votes must be in favor of a proposal for it to pass.
• Minimum Quorum: 20%, meaning that 20% of all tokens need to have voted on a proposal in order for it to become valid.
• Vote Duration: 5 day(s), meaning that eligible voters will have 5 day(s) to vote on a proposal.
• Delegated Voting Period is set for 3 day(s), meaning that Delegates will have 3 day(s) to use their delegated voting power to vote on a proposal.
• Quiet Ending Period: 2 day(s), this means that 2 day(s) before the end of the Vote Duration, if the vote outcome changes, the Quiet Ending Extension will be triggered.
• Quiet Ending Extension: 2 day(s), meaning that if the vote outcome changes during the Quiet Ending Period, an additional 2 day(s) will be added for voting.
• Execution Delay: 1 days(s), meaning that there is an 1 day delay after the vote is passed before the proposed action is executed.

Strategy:

wanted to incentivize a cohesive community by large majorities.
Also think votes can happen rapidly. People must adapt and get active to govern in this rapidly moving space.

Module 4: Conviction Voting

Data:

This shows how the minimum percent of tokens needed to pass proposals after 2 weeks varies with the percent of the Common Pool funds being requested.

Proposal	Requested Amount (wxDAI)	Common Pool (wxDAI)	Effective supply (TEC)	Tokens Needed To Pass (TEC)
1	1,000	100,000	1,500,000	3703
2	5,000	100,000	1,500,000	12000
3	25,000	100,000	1,500,000	Not possible
4	1,000	750,000	1,500,000	3081
5	5,000	750,000	1,500,000	3443
6	25,000	750,000	1,500,000	6749

• Conviction Growth: 4 day(s), meaning that voting power will increase by 50% every 4 days that they are staked behind a proposal, so after 10 days, a voters voting power will have reached 75% of it's maximum capacity.
• Minimum Conviction: 0.2%, this means that to pass any funding request it will take at least 0.2% of the actively voting TEC tokens.
• The Spending Limit: 10.0%, which means that no more than 10.0% of the total funds in the Common Pool can be funded by a single proposal.

Strategy:

A couplel proposals with high spending limit could destroy our reserves. Better to keep it low. Projects can always re-apply if needed.

FORK THIS PROPOSAL (link)

*Advanced Settings

This will be empty or non-existent if the user did not change any advanced settings from their default. Any settings changed from default will show up here

Parameter	Value
Common Pool Amount	0 wxDAI
HNY Liquidity	100 wxDAI
Garden Liquidity	1 TEC
Virtual Supply	1 TEC
Virtual Balance	1 wxDAI
Transferable
Token Name	Token Engineering Commons
Token Symbol	TEC
Proposal Deposit	200 wxDAI
Challenge Deposit	400 wxDAI
Settlement Period	5 days
Minimum Effective Supply	0.01%
Hatchers Rage Quit	60000 wxDAI
Initial Buy	250000 wxDAI

*Learn more about Advanced Settings on the TEC forum

FORK THIS PROPOSAL (link)