Loomio
Sun 22 Nov 2020

Configuring Giveth DAO: Rep Token on Aragon 1hive

D
Dani Public Seen by 28

Giveth needs Tokens!

The first token we are creating is on Aragon's 1hive using xDAI, and it will be using the Reputation Template.

This token will be used for Giveth Governance 2.0, implementing a token-based voting system for proposing and deciding how to allocate funds monthly to contributors as well as proposals for receiving tokens from other DAOs in exchange for partnership service provisioning.

You can see how we got to this point in the Governance Meeting Notes.

This thread is to discuss the variables that will be set at Token Initiation and then use voting here in Loomio to record our decisions for creating the Reputation DAO.

Please state which variable you are talking about, and provide your proposed setting along with any opinions you may have. if you have participated in other DAOs and have reference material or data to share, provide links or upload relevant documents to help us all make the most informed collective decision.

Thank you!

ARAGON 1hive (xDAI) DAO CREATION

  • Variable #1: Support

    • Proposed and Decided in Gov Call: 66%

      “Support” is the percentage of votes on a proposal that the total "Yes" votes must be greater than for the proposal to be passed.

  • Variable #2: Minimum Approval

    • Proposed and Decided in Gov Call:  25%

      "Minimum Approval %" is the percentage of the total token supply that support for a proposal must be greater than for the proposal to be considered valid.

  • Variable #3: Vote Duration

    • Proposed and Decided in Gov Call: 3 Days

      “Vote Duration” is the length of time that the vote will be open for participation.

  • Variable #4: Token Name

    • OPEN FOR PROPOSALS! 

      This is for Giveth’s REPUTATION token. Keeping in mind we will have a Token of Value in the future.

  • Variable #5: Token Symbol

    • OPEN FOR PROPOSALS!

      This will be related to the Token Name, so submit your suggestions for both 4 & 5 together :)

  • Variable #6: Token Holders

    • Who will be included in the initial distribution?

      • PROPOSED and Open for Opinion Forming: All former contributors get something to say, THANK YOU, from Giveth <3

      • The weight will diminish over time as more are awarded to present contributors in the future.

    • How will future token issuances be distributed?

      • OPEN FOR PROPOSALS!

CONSIDERATIONS FOR INITIAL REPUTATION DISTRIBUTION:

  • Past contributors receive an initial allocation in order to vote.. Everyone gets something.

  • Current active contributors need to be at least 66% of the total token supply.

    • Opt-in procedure; click to accept? Or Congrats, you got GIV in your wallet!

    • Can't be sure they still have access to the wallet.

    • Who did we miss, how do we identify who they are, where do we commit?

  • How will we decide how much Rep Tokens to distribute?

    • Proposal - Use Loomio - You Are Here :)

    • SourceCred is nice but has issues with balancing activity with power.

    • Issuance is just as important as initial distribution

    • Mint x per month - consistent contributors get more and more weight which is better than burning/taking away if unused.

    • Negative vibes from token takeaway. Alternate is everyone contributing keeps getting more and more REP as the token supply increases and distributes more and more value.

MP

Marko Prljic Mon 23 Nov 2020

Variable #4: Token Name

Giveth

Variable #5: Token Symbol

GIV

Token symbol graphic, I suggest we use the white Giveth "G" logo on dark bg.

MP

Marko Prljic Mon 23 Nov 2020

Governance token idea:

  • iGIV (like I give)

  • rGIV

Utility token proposal:

Name: Giveth

Symbol: GIV

D

Dani Mon 23 Nov 2020

i like RGIV - Reputation token for Giveth, and save GIV for the utility token!

WO

Willy Ogorzaly Mon 23 Nov 2020

+1 for rGIV!

D

Dani Fri 27 Nov 2020

  • Variable #4: Token Name

    • OPEN FOR PROPOSALS! 

      This is for Giveth’s REPUTATION token. Keeping in mind we will have a Token of Value in the future.

      Giveth Reputation Token

  • Variable #5: Token Symbol

    • OPEN FOR PROPOSALS!

      This will be related to the Token Name, so submit your suggestions for both 4 & 5 together :)

      rGIV

  • Variable #6: Token Holders

    • Who will be included in the initial distribution?

      • PROPOSED and Open for Opinion Forming All former contributors get something to say, THANK YOU, from Giveth <3

      • The weight will diminish over time as more are awarded to present contributors in the future.

      ONLY ACTIVE GIVETH CONTRIBUTORS TO START

      • Allocating current funds to current contributors requires an understanding of where we are now with Giveth 1 and Giveth 2. Since that is the only intention for our initial launch, I suggest we limit initial distribution to those who have received funds in 2020.

    • How will future token issuances be distributed?

    • OPEN FOR PROPOSALS!

    OPT-IN

    , Show up for a meeting or comment on Loomio threads or engage in GitHub/Discord/Telegram.