Decentralized Governance Incentive Framework Proposal
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0.05%–1% veCTM allocation > is this of the total floating veCTM? And for the core contributors together of per contributor?
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0.05%–1% veCTM allocation > is this of the total floating veCTM? And for the core contributors together of per contributor?
@sanderrrrr Per contributor. We should make this clear
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Received each 500k veCTM? If this is the case it’s too much in my opinion. I also think the veCTM Distribution Tiers are quite too high. I remember the value for 1 CTM equal to 1 USD. Contributors were offered half payments in CTM that was theoretical 1:1 to USD. With 50% added penalty for veCTM to CTM you’re giving the new contributors $250k value in rewards.
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@sanderrrrr Per contributor. We should make this clear
@Selqui Thanks for clarifying that. 1% seems pretty extreme. I would limit that.
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We are currently offering the VCs tokens at a Fully Diluted Valuation of 20 million USD, so each CTM is equivalent to 0.20 USD. Hopefully the value will increase to 1 USD and more after TGE, but those helping to build our products now deserve the same terms (in my opinion).
Arkman has worked for more than 1 year on the frontend for AssetX, as well as the homepage for ContinuumDAO, the C3Caller page, the MPC Dashboard and the veCTM Staking page. So far he has only been paid less than 5k USD in total. He believes in the project and I will certainly vote in favour of awarding him 500k veCTM now and another 500k veCTM at TGE, assuming that he continues working as he has been (I am sure he will). Regarding Lex, our new legal web3 expert - we cannot successfully launch our RWA Security issuance platform without his experience. Securities are heavily regulated and our existing DAO core contributors have no experience in legal matters. He is also advising us on incorporation and he came to us with his excellent idea for Lawracle that will benefit us all. I will certainly be voting to give him 500k veCTM now and another 500k veCTM when we go to mainnet with Lawracle. Let's keep the big picture in mind. We need Arkman and Lex in our DAO.
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@Apxymous Hal did the smart contracts part and he is developing the Governance frontend at the moment. He may incorporate a newer version of the staking into this new Governance frontend
@Selqui Ah, okay. Well I didn’t know Arkman was working over a year now and only received so less. But there is only 3% left from the 15% for Core contributors? Is that correct? I still think these numbers are on the big side and risky incase these contributors want exit. After Losing 50% with penalty they still got a big size to dump. I rather have them vested started at day1 TGE. Like giving them 50k veCTM per month instead of 500k in one go.
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@Selqui Ah, okay. Well I didn’t know Arkman was working over a year now and only received so less. But there is only 3% left from the 15% for Core contributors? Is that correct? I still think these numbers are on the big side and risky incase these contributors want exit. After Losing 50% with penalty they still got a big size to dump. I rather have them vested started at day1 TGE. Like giving them 50k veCTM per month instead of 500k in one go.
@Apxymous The vesting is an excellent idea.
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I don’t know what was promised before they joined. If they were promised already they should receive for their work. There is only 3% left for future contributors. If we gonna use up to 2% until TGE then there isn’t much left for future contributors. If we can use “some” of the allocation from the departed core contributors then we don’t have to use the 3% what’s left.
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I don’t know what was promised before they joined. If they were promised already they should receive for their work. There is only 3% left for future contributors. If we gonna use up to 2% until TGE then there isn’t much left for future contributors. If we can use “some” of the allocation from the departed core contributors then we don’t have to use the 3% what’s left.
@Apxymous We certainly will use the allocation from departed core contributors if this proposal passes. We will have a vote at TGE to decide how much of the CTMDAOVOTE tokens convert to veCTM and therefore how much ex core contributors will receive, but in this proposal, it is suggested that it will only be a small amount, capped at 0.1% (100k veCTM).
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S Selqui moved this topic from Ideas & Suggestions on
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S Selqui locked this topic on
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