Eth pr dao parameter update :need ideas

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#1

To take ETH PR DAO to the next 100 members, the core team needs to update the token issuance and fine-tune the voting parameters.

We are currently hosting weekly parameter parties to finalize the details.

https://docs.google.com/document/d/1YnSXc5YJhexC5lzj7_El_KyLn9Bl0zdMe_0dpKOcZzo/edit

The current working doc for the parameter. We can use this forum post to share questions and ideas.

What other parameters need to be included and updated?

We currently have

Spending Limit
Minimum Conviction
Conviction Growth
Minimum Approval
Target Ratio

Furthermore we want to set up a gnosis mutlisig safe that has a treasury to use as liquidity pool collateral.

How do we deploy EVM updates to the token manager?

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#2

Here’s the full list of parameters:

Conviction Voting - Config 4 | Commons Dashboard

  • Spending Limit
  • Minimum Conviction
  • Conviction Growth

Decision Voting (Tao Voting) - Config 3 | Commons Dashboard

  • Minimum Quorum
  • Support Required
  • Vote Duration
  • Delegated Voting Period
  • Quiet Ending Period
  • Execution Delay

Dynamic Supply - Dynamic Issuance v2

  • Target Ratio (t)
  • Max Adjustment (r)

When these are finalized, we can create an issue in the Gardens Github with the updated parameters to get the right inputs to add to the EVM Executor.

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#3

super cool to see PR DAO doing params parties @antonio!

#4

@antonio here’s the post I mentioned on the call today: Insights on Dynamic Issuance after modeling it

And the relevant section:

Parameter name “max adjustment per year” may be misleading

A “max adjustment per year” of 10% doesn’t mean that in one year the total supply won’t increase or decrease more than 10%. For example, setting the initial ratio to 0% and the target ratio is 30% with a “max adjustment per year” of 10%, we see how the total supply is increased by +32.5% in just one year.

We say that it is “max adjustment per year” because the smart contract is requiring a “max adjustment per second” parameter, and we use an annualized input instead. I think it might be misleading so I would simply use the word “throttle” to name this parameter.

@sem can correct me if I’m wrong here, but I believe the unit of time in the Desmos for Dynamic Issuance is months, so it probably makes sense to temporarily reduce the throttle so issuance can catch up to the new target ratio.

#5

Yes, Issuance v2 is not in production yet, the current implementation is using the specification described in this post:

In order to model it, you can use the Veneto Garden creation wizard:

Screenshot from 2022-02-15 00-16-49

Or you can use this Jupyter notebook (run with Run > Run all).

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#6

We’ve gone through our iteration process and have come up with the new voting parameters and tokenomics mostly modeled after the GIV drop in the doc below. Notice the two sheets for the two updates.

We have updated our target ration to be 50% and are earmarking future initiatives like LP incentives to be a funding decision later on.

I’ve also listed use cases for future uses of the $RICO token as access to events and education and networking as member benefits.

I’d like to get some feedback on tokenomics. If you have any ideas on how we can bootstrap liquidity and create more diverse distribution and incentives for holding and circulating $RICO please leave a note below.

@paul @sem

#7

Looks great!

For bootstrapping liquidity, a quick DIY approach would be to work out an agreement with some of the founding members where they put up the liquidity and give the LP tokens to the Gnosis Safe in return for $RICO tokens. You could stream $RICO to them too with Superfluid as a vesting reward.

There are a couple more long term liquidity solutions in the pipeline as well:

1 Like