A Proposal to Create a Voting Escrow NFT and Governance for ContinuumDAO
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Hi @Apxymous, thanks for your comments, appreciate the feedback. I don't know how much CTM will be worth at launch, but I'd like to get some since I didn't get much in the airdrop and I want to be a part of the project in the future. It might be hard to buy some since I think a lot of people will hold on to it after launch. I think that since I'm proposing to write a core part of the code, it is important that I have an interest in ContinuumDAO doing well after I have finished this project, and owning the token and taking part in governance will ensure that. The USDC I requested is enough to pay the bills, even though I agree that there is a lot of work to do here.
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Excellent work, @hal0177 !!! Is there a variable percentage for the penalty component of the veCTM? This is important because individuals may have varying unlock periods in the future. We should consider applying distinct ratios to correspond with different veCTM unlock durations.
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Many thanks @hal0177 for this proposal. Would it be possible to associate images with empty veCTMs? That way we could auction them and holders could merge their existing ones to them. It could be a source of revenue for the DAO and a bit of fun.
We could enable minting of empty veCTM's from our front end at a cost of say 0.1 ETH (or 200 CTM?), or we could issue a collection of them and sell them on OpenSea, with the revenue going to the Treasury.
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Good idea to add images to the NFT's
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@Ulliee Do you mean veCTM (subject of this proposal), or ContinuumDAO in general? The NFT is designed to enable governance, distribute protocol income, and allow holders to run nodes in the network. As far as Continuum goes, it's in the White Paper, but we hope to attract a lot of different enterprises to run their own cross chain routers, create multi-chain dApps, create MPC wallets and generally to join up the value systems that are all block chains - EVM's AND non-EVM's. The holders of veCTM will earn a small fee every time someone uses our network.
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Proposal is reasonable nothing to add at this point
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I think the proposal from @hal0177 seems reasonable and hear the comments regarding having a vested interest in the DAO moving past this stage of work.
I really like the idea of attaching images to the NFT's. The current logo could lend itself well as the basis of the images. As a designer I would be open to testing out a range of sample images.
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An additional feature, building on those on TG, is to allow Opensea users to see how much CTM is locked within a veCTM, and for how long. The system used by Multi had a gazillion zeros behind each NFT and it was too difficult to read.
I am good with the cost. It is wonderful that a dev is interested in owning veCTM. Great proposal.
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Hi @Raini-Ng, I appreciate the comment. I agree about the veMulti display issue, it should be more readable.
As for OpenSea, I believe they get the image from the NFT smart contract once and cache it for further use, meaning the data displayed on most of the NFTs on OpenSea is not up to date. Not to worry, we'll always keep this data up to date on our site.
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@Everyone, thanks very much for the feedback and suggestions. I have already created a repository on GitHub with the bare bones of the system, pending successful vote. Please reach out to me on this thread or on TG, any further concerns or suggestions are welcome.
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The Final Vote on this is now live. I will leave this thread open for on-going discussion :- https://forum.continuumdao.org/topic/16/003-final-vote-the-creation-of-a-voting-escrow-nft-and-governance-for-continuumdao
