A Proposal to Create a Voting Escrow NFT and Governance for ContinuumDAO
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Well done Hal. There is one thing I want to comment. That’s the payments. Sorry, if I look offending but I’m not. Just want to share my opinion. The USDC payment seems on the low side and the veCTM payment seems on the high side. Because there is no market yet for the veCTM token we don’t know the actual value. But in my mind I have value veCTM locked for max years at $1, but that’s me. I suggest maybe we can change a bit for the payment. More USDC and less veCTM. Are you okay with 10,000 USDC and 15,000 veCTM or 12,000 USDC and 10,000 veCTM? I think with the current global economy we all could use some stability. This just an idea from my side and I probably understand why you asked for 4000 USDC per month and not higher. The core team probably suggested to pay maximum of 4000 USDC per month. I think we should pay you more in stables because this work will be very important for the Continuumdao. You can work at ease without thinking of financial obstacles. It’s still up for you to decide to change the payments. I’m very excited to see the work in 2 months when it’s complete.
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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Looks like a good proposal, I'm curious what would this solve once developed? Like what real world use cases would this support?
@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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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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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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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.
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
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