[RFC 0] - Putting the Treasury to Work

Interesting idea :slight_smile: could you please rate it based on the cirteria defined before?

And @josead11- gooddollar also sounds interesting. Could you please rate it based on the cirteria defined before? (see my Klima post)

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+1 GoodDollar. Cumple los requisitos expuestos en klima

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  • environment-friendly: +
    Reason: runs on Ethereum & FUSE (DPOS EVM) with low energy consumption.
  • not a ponzi scheme: -
    Reason: as it’s cryptoeconomics produce inflation but at current low rates and will expand through time while suiting users and market utility. Goal is to optimize liquidity aggregation for good for a UBI currency and organic value creation.
  • advertisement towards our core values/goals: +++
    Reason: GoodDollar aims to socialy distribute Earn and yields on UBI supporters cryptoassets while creating real world impact
  • sustainable: +
    Reason: G$ UBI is designed to be sustainable in the long term, still there are many challenges to solve through market behaviour and governance.
  • shouldn’t be too risky: +++
    Reason: Action to stake selected amount (let’s say 500k USD) has close-to-zero financial risks (3rd party protocol AAVE). As per the smart contract risks, contracts are audited and submitted to bug bounties.

Overall score: 7

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Hey! I’m just reading the iddle liquidity is of 4M USDC, and draft GoodDollar request is to stake 500k but It actually could be more if there are not further candidates.

Can I ask how do you guys decide on the ammount to be invested?

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This is a rough discussion of ideas, but this is the first deliberation we’re having of this. So initially we discuss potential amounts/potential investments, then we bring these values to the core team. If they agree with the investment amount then we will move it to a snapshot proposal, but any feedback they provide we will consider before anything.

Our DAO system is something we’re working on, in terms of how we make these decisions. However, this is the fairest route currently

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just FYI in the current step we are only discussing which investments would fit our criteria. The amount of money we would put in will be decided at a later step together with the core team.

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Thanks for sticking to the format :slight_smile: I agree with the goal rating but I disagree with the risk rating - that one is much too positive. I would guess more like a + or ++.

Update: Or even more like -? After reading a bit about it I saw that G$ was backed by 1 DAI initially but now it is down to 0.17$? How should the value of G$ increase?

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I’ve edited my post.

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I agree, +++ at risk rating might be too high, in any case, here the mentioned security audit, bug bounties program with Inmunefi and Hats Finance are also in process. Might I suggest a ++ to that?

having a 100% collateral ratio doesn’t mean 1G$ = 1 DAI (our reserve asset is actually cDAI), it means price would remain constant independently of the value added/subtracted from the reserve (adding value = purchase G$s / subtracting value = sell G$s).

G$ price was never 1 DAI, G$ is not, and is not mean to be a stablecoin either. Launch price (september 2020) was 0.0001 USD per G$. Our Bancor bonding curve with a decreasing expansion rate looks to guarantee that price to continuously growth through time with a protocol controlled volatility.

now that you ask this question, and since the request is not to purchase goodDollars but to stake USDC for G$s and GOOD rewards (although you can choose to dispense with the G$s claiming so rewards are distributed to rest of UBI supporters), I’m wondering if PopcornDAO might be interested in acting as a G$ Holder / Liquidity Provider and also purchase a considerable amount of GoodDollars from our reserve (goodSwap.xyz). Current lowCap is low so the long term opportunity is big although the risk here would actually be increasing.

In case it’s useful, and the opportunity is appealing is appealing to the Popcorn community, here my rating about a second proposal to purchase GoodDollars for further diversification of PocornDAO treasury. Here my rating about it:

  • environment-friendly: +
    Reason: runs on Ethereum & FUSE (DPOS EVM) with low energy consumption.
  • not a ponzi scheme: - -
    Reason: in case PopCorn purchases 500k USD of GoodDollar, it would position itself as a close to holding 35~45% of the circulating G$ supply, this action would anticipate the inversion of other players that we are bringing into the ecosystem, and PopCorn would be able to dump on them to take profits.
  • advertisement towards our core values/goals: +++
    Reason: this action will considerably increase token price so will generate positive impact to the +200k people we have been distributing in a UBI way.
  • sustainable: ++
    Reason: A good use of the purchased G$s (for example, distributing it as extra yields for people adding liquidity to your protocol) might help us in having a more fairer distribution so it would contribute to the sustainability of our model
  • shouldn’t be too risky: - -
    Reason: making such a big purchase might pump the market and create incentives for G$ holders to cash out and lower the price. Still, major G$ liquidity is distributed over Fuse network, so only G$ “whales” (that we assume are emotionally incentivized to hold in long term) might be able to go to Ethereum Network and afford the gas cost of the selling. Still, I think if such a cool org as PopCorn put some skin in the game here (let’s say 100k USD), I think it would lead the #invest4good ecosystem to grow up and sustain the value.

Overall score: 2

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Some additional context / news re Klima for anyone interested in their MO:

Thanks, I’ll update the initial post :slight_smile:

Since the discussion is still ongoing especially regarding G$ I have extended the deadline for phase 2 until Saturday 15.01.2022 at noon CET.

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Not an expert on the matter but I think the 1Hive, TEC, Giveth, Panvala, BrightID, etc. ecosystem on GnosisChain matches some of the criteria + are value aligned.

I will share this opportunity with some of them

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Just to add in Popcorn’s purpose, values, and goals, which should be helpful when judging criteria. It’s what we use for our decision-making as the core team. I’m on a mission to get our handbook published asap, and these will be in them.

Popcorn's Purpose


I’d also suggest that the advice process is added to your current steps, since we don’t yet have an agreed governance process in place. What’s great about the advice process is that it includes asking input from specialists, and I think that with such an impactful decision as to what to do with our treasury, which will affect every single POP holder, specialist input is key. The Advice Process can be utilised not only for what is being explored here but how.

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Let’s extend this RFC. I have thoughts on Fantom ecosystem I’d like to share.

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hey @ToBe , just wondering if you guys are considering my second GoodDollar Possible Investment proposal I’ve made above :pray:t3:

Just to clarify the difference among those,

GoodDollar cryptoeconomics are really interesting, protocol is designed to expand supply while guaranteeing the growth of the token price and network value. But not only, we are strongly aligned in terms of goals and value (thanks @anna-marie for your contribution here). UBI is a key problem to solve to humanity, and I feel a strong relationship with PopCornDAO will get us there.

If you want to discuss further, I’m getting on Discord.

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Hey @ToBe @Gus

I was wondering… I’ve seen a couple of things work really well when there are numerous proposals on offer about a decision that would have a big impact on a community.

  1. The various proposals are shared as complete proposals and a vote is taken to show current support of each proposal, something like the below (but with relevant options). I can see this as being helpful for the community wanting to clearly understand the different options at hand since having the various proposals shared in a new thread could reduce some of the noise of comments and help get people’s attention clearly on the opposing proposals and how they differ or are the same.

  1. I’ve also seen communities that are making such impactful decisions (such as a decision about treasury) - and there are various proposals being offered as ways forward - utilise extra tools besides the forum to ensure that the community has time to reflect on the various options. This could be hosting AMA style sessions just on these proposals, so that community members can make sure they really understand what’s in each proposal and how it could affect the community by asking questions to the proposal creators.
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Hey peeps, the last days I had not much time. I guess I will update the thread and answer the questions directed at me at the weekend

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I’m really sorry that I can’t do updates at the moment but I’m quite busy with real life stuff :frowning: (for at least 4 more days). If there is someone who want to further drive this topic please ping me.

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Hey All
Thanks for taking an interest in G$.
I want to correct @Gus here, I would give G$ “not a ponzi” score of ++ , but to be conservative lets go with “+”
Even if Popcorn DAO bought 500KUSDC worth of G$ (which would double the market cap) the price would go up only by around 10%, that’s because of our current very high reserve ratio.
G$ is planned to slowly decrease its reserve ratio as the reserve accumulates more funds in order to make its price relatively stable in relation to its market cap. G$ was planned from the beginning NOT to be a volatile asset, so SPECULATION is kept LOW.

Regarding the term “inflation”, we have to consider actual numbers. For example think of a project that has a total supply of 500M with 100M circulating and 400M to be released for different purposes in 3 years, even though this project has a “max supply” you will experience 400% inflation over 3 years.
Since G$ is a reserve backed currency, existing tokens are being diluted at a very small rate, because every new G$ token that is minted has to be backed by a reserve asset. There is some dilution because of the reserve rate which is not 100% and is declining with time.
G$ has no pre-minted tokens, so there will be no hidden inflation.

Hope that makes sense.
Cheers