ColdTruthCulture.io Bootstrapping Partnership

🌿 Proposals
#1

The cold truth culture has been a long time supporter of 1hive and is requesting 20 HNY or $10,000, which it will use to add COLD-HNY LP and placed in a unicrypt locker for 1 year to show the long term commitment cold has to 1hive. This is in return for the ~$40,000 in indirect value cold has already brought to the 1hive community and the value it will continue to bring. Here are some reasons ctc is asking 1hive to trust this proposal:

  • Many of the team members are 1hive members and contribute significantly to the 1hive channels in both discord, tg, on the forum and are active voting members of the 1hive DAO. Some of these members are @thejewler, @dw, @coldtruthculture, @pab, @dw, @monstrosity, @yambidi, @chuy, and @zer8 just to name a few.
  • COLD buy pressure on HNY - Cold has already purchased ~$8,000 in honey (12 HNY) since feb 2021. Until the burn phase, cold has and will continue to use 50% of it’s revenue to buy honey. After the ‘diamond hands’ airdrop, coming soon, cold will begin it’s burn phase. During this time cold will use it’s revenue accordingly; 75% will be used to buy COLD and 25% to buy HNY. 50% of the COLD will be burned the remaining 25% will be paired with HNY to continue adding HNY-COLD liquidity.
  • 1hive community was a reciepent of the largest cold airdrop more than doubling the circulating supply adding an additional 322,000 cold tokens at approximatly $32,000 in USD value.

For these reasons Cold is requesting a bootstrapping partnership with 1hive to double the current liqudity and also as a thank you or as recognition that cold is leading the way modeling a true 1hive partnership where it will continue to develope new active members, more supporters of the 1hive community and use the revenue to apply a constant loop of buying back the 1hive token ($HNY).

Learn More about Cold Truth Culture

Still don’t know about ctc? Here are some of the highlights.

  • A community to hang out, talk and learn about digital assets, NFTs, share ideas, share artwork and reward people that do the right thing!
  • Join the team of artist, submit your application as an artist.
  • Revenue will be used to buy 50% cold and 50% hny until burn phase.
  • Burn phase begins after second airdrop then all revenue will be used to buy 25% HNY, 75% Cold (50 of the 75 cold will be burned forever until 1,602,618 cold tokens are removed from circulation)
  • Check out the new website
  • Farm some NFTs Now and get more cold tokens check out the 8 week reward program. Farm on unifty.io
  • Make a request for a specific art piece
  • Cold is a DAO looking to use Gardens for governance as soon as it is live.
  • Possible token distribution depending on the DAO

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CTC Gnosis Safe ETH address to receive funds: 0xCF9Fb268df00058ab9Cd1B5a33E83cB3374a51c9

19 Likes
#2

Loving the tokenomics you guys have come up with :heart: and great work on this proposal! Seeing how CTC has been a long time supported of the 1Hive community and with the incorporation of the HNY buy back program i think it would be silly not to vote for this proposal

Thank you CTC team!

6 Likes
#3

@theJeweler This proposal is great, I know that maybe the people in charge of voting are the DAOS , but really, as @D0SH quotes it, it would be silly not to vote for this proposal

Good vibes CTC Team!

1 Like
#4

If you have Honey you can vote.
That’s how this works.
:slight_smile:

6 Likes
#5

Nicely written proposal, been farming for a while only have 1 NFT so far (NSFW ones are spendy :rofl:) I will support this

1 Like
#6

Great then, thanks for the info @metaverde :sunflower:

@theJeweler :white_check_mark: count on my vote and support for this great proposal! A question for one to be an artist of nfts for CTC that should be asked

2 Likes
#7

I support this proposal guys. Good work putting this together and Good luck to the CTC Crew : )

2 Likes
#8

Hey guys… been following the posts earlier in the cafe channel… Really looking forward to the Diamond Hands drop and see if i qualify…!! Seems like a cool project… I see similarities to SNAFU here… !
Would be nice if someone linked the actual proposal here or in the original post so users can go vote directly!

1 Like
#9

Great proposal guys. I hope you guys end up getting everything up and running and Good luck to the CTC Crew :smile_cat: :+1: :tada:

#10

I wish CTC the best of luck. :pray:

1 Like
#11

Looks like he is waiting for feedback first before posting.

#12

I will personally be voting no since I am not long on art NFTs and I feel like the post sort of eminates a “we bought your token so now you owe us” kind of vibe, which I assume wasn’t the intention.

The criteria for being eligible in the airdrop is either hard to find or not clear; either way, you state in your airdrop announcement that some 1Hive community members were selected based on engagement/previous airdrop behavior, which is fine, but I don’t see how this translates into a sort of “quid pro quo” where 1Hive has to return something. Your airdrop announcement motivation and this proposal just seem to clash on a philosophical level (first post: we’re selecting people who are good DAO members, second post: “you owe us now”)

Best of luck with CTC, though! :bowing_man:

Edit: For clarification, I can’t vote “no”, what I meant was I will not be supporting the proposal and will lock up Honey in abstain

3 Likes
#13

Aha… thanks. So its not a funding proposal yet. I will wait for the actual proposal. thanks.

1 Like
#14

Celeste! Celeste! Celeste!

3 Likes
#15

Aren’t all proposals except for grants a, ‘we are asking for honey and then a case for ROI is made’? I personally love that this isn’t a give me honey so we can dump honey.

I read it instead as saying: ‘we have been here since 2020 and we love the 1hive community so much that here are the things we’ve been doing. Does the community think it would be okay to help bootstrap some liquidity that will be locked?’

IMO I hope to see more of these proposals and as long as the projects are not scammy, a permanent buy pressure of HNY from other DAOs strengthens 1hive and this is the exact model I wouldn’t want to just support but I would want to see 1hive marketing/advertising.

7 Likes
#16

Yeah, I do not agree with your POV. BTW every sufficiently smart person can find a lot of arguments in sustaining his POV always. :smiley:

The purpose of the Bootstrapping partnership is not a “quid pro quo” it’s more I helped you can you return a favor if it helps me and also helps you?
Leaving all the math and finance stuff aside I believe this is about 1hive collaborating on a more deep level with CTC because a lot of members of 1hive are also in CTC and viceversa.

Is not that the purpose of 1hive to become the DAO of DAOs? :slight_smile:

Correct me if I am wrong

1 Like
#17

Excellent proposal explained in the best way @theJeweler
I think all of us should support this proposal because it supports 1hive and it’s a good news.
1Hive is great and every collaboration with it, will bring awesome benefits, definitely
Good job @theJeweler and @ZER8 and thank you! :blush:

1 Like
#18

Single comment here.

I am totally against using HNY to pair with Tokens to provide community value. Tokens should be paired with stablecoins (in the case of being on xDAI to be paired with xDAI).

The reasons are two fold.

  1. Virtually all tokens being paired with each other in LPs means there is a strong driver for them to move in price together. We (meaning the entire crypto community) needs to start getting away from BTC-TOKEN and wETH-TOKEN pairings to provide value and move towards using stablecoins.

  2. LPs that pair TOKENs with Stablecoins actually provide both price and liquidity support when prices change. This is exhibited by the fact that Token-stablecoin LPs often do at least 50-100% more volume than Token-BTC or Token-wETH pairings. The reason here should be obvious but it took even myself some time to understand why. HNY-xDAI does better than HNY-wETH simply because whenEVER the price of HNY changes HNY-xDAI price must change and that will come from arbitrage volume. This will not be as true if wETH price changes with HNY because the arbitrage on the ratio trade in almost every case of Token price changes is less than against a coin with stable value. This is why almost every Token-Stablecoin LP gives better returns than Token-Token LPs across the board.

There is a third issue as well. with BTC or wETH this is less of a concern but with HNY it is a major concern.

  1. There simply is not enough value in HNY to support the fragmented liquidity in the LPs which will invariably make trading difficult, slippage higher than it needs to be.

I can support a lot of things that we can use HNY for. I will no longer support LP token pairings to derive value because all this does is fragment HNY liquidity and drives strong token-HNY price correlations which we all want to see stop. At some point tokens need and must stand on their own. Communities should and can support each other but we need to stop doing this by coupling and fragmenting LP.

Please consider changing the primary LP from COLD-HNY to COLD-xDAI and you will find much better liquidity and trading. I for one will not be pairing my HNY with other Tokens for the above reasons and will stand staunchly against proposals seeking HNY to pair with their Tokens.

Last note. I support ColdTruthCulture ideologically - what I want to see stop is this tie everything to HNY because tieing everything to BTC is one of the prime reasons we still have strong Token price correlations to both BTC and ETH. We need as a community (the entire crypto space) to start taking seriously how to build value, and that value needs to be built against coins that are designed to have hard value.

Tokens DO NOT have hard value. Stablecoins - DO. Now you can debate whether $1 US, or $1 EU or 1 whatever is a hard value but it is a hell of a lot harder than Token values.

The whole point here with LP and token price support against trading is if your token price drops you want the LP guaranteed to be buying your token, and when the price rises you want the LP to be guaranteed selling it. If the LP has another token paired with it that drops and rises the same amount of price of your token liquidity (COLD in this case) that will be purchased or sold will be less than if paired with a stable coin. Honestly if we had anticorrelated coins (ones that would drop when price of tokens went up) I’d be advocating for those as the preferred LP pairs but we don’t have such beasts yet and certainly not with any real TVL even if they do exist.

The above is the prime reason I am more for pCOMB-USDC to be the key price support pair vs. pCOMB-wETH. If there was one thing 1Hive could do is to start rewarding via farming rewards Token-xDAI pairs on xDAI and Token-USDC pairs on Polygon Start to be the home of building true value and community support via best LP practices and farming rewards.

10 Likes
#19

@theJeweler I was about to consult, to participate or contribute some design to CTC, for some nft there is some kind of protocol or where I should write I am here, today when I get home I vote on the proposal! :green_heart:

1 Like
#20

The intent was certainly not to express that 1hive somehow “owes” CTC anything. It was to show the commitment and future plans of CTC to 1hive. Most of the core members of CTC are long time members and supporters of 1hive.

2 Likes