Loomio
Thu 29 Nov 2018

Switch Giveth Reg Rewards and Expenses to DAI

K
Kay Public Seen by 180

In anticipation of having DAI as an available token in the DApp it would be awesome to calculate new Reg Rewards for DAI to use once ready. Further on expenses should be denominated in DAI.

BS

Bowen Sanders Thu 29 Nov 2018

Are we considering changing all regular rewards values to the equivalent in DAI or are we just using the same number (i.e. 600 EUR to 600 DAI)?

GG

Griff Green Fri 30 Nov 2018

600 EUR is 678 DAI so I think we would probably want to round up to 700 DAI.
Very excited to see this change... so sick of fiat currency

PL

Pol Lanski Fri 30 Nov 2018

Well the DAI is pegged to the USD, so this might keep changing as the USD/EUR changes. Apart from that, DAIFY EVERYTHING! (although I am not affected by the decision and I can only share excitement, not advice :) )

L

Loie Wed 5 Dec 2018

I like consistency! I would love to file all giveth related money in my head into one currency, so DAI seems like the natural fit for this.

GG

Griff Green Wed 12 Dec 2018

it might be pegged to USD... but when i see DAI smile, when i see USD, I frown. i can't wait for every milestone to have 1 DAI = 1 DAI instead of 1 USD = .0112 ETH

GG

Griff Green Sun 16 Dec 2018

Questions:
1. When do we pay in DAI and when do we not?
1a. When things are paid for in ETH, we should repay in ETH right?
1b. For Expenses in Fiat, paid in DAI?
1c. For Reg Rewards, DAI.
1d. For Reward DAO... ETH?
1e. What do we do if we have too much ETH and not enough DAI... do we convert it? How do we do that? Can we "Sell" it... Thats what I am doing for the Aragon DAC now.. but then the donors lose their connection to their currency... Maybe we just need to solicit more donations in DAI?

K

Kay Sun 16 Dec 2018

Question 2: What is the earliest time we allow milestones to be in DAI for?

I need to make my reg rewards milestone for the past two months. From what point in time am I allowed to let it be denominated in DAI?

The earliest example I found was the office expenses for November.

K

Kay Sun 16 Dec 2018

1a - Yes
1b - Yes
1c - Yes
1d - Interesting. ETH is fine for Reward DAO I guess?
1e - I was assuming that we could sell it, but you have a point with "donors lose their connection". On the other hand - If we officially adopted a balance ratio that is communicated with the purpo

DG

Danielle Gennety Fri 21 Dec 2018

When do we pay in DAI and when do we not?
1a. When things are paid for in ETH, we should repay in ETH right? YES
1b. For Expenses in Fiat, paid in DAI? YES
1c. For Reg Rewards, DAI. YES
1d. For Reward DAO... ETH? YES
1e. What do we do if we have too much ETH and not enough DAI...
do we convert it? MAYBE, but PROBABLY NOT
Can we "Sell" it... .. NO - solicit more donations in DAI YES

GG

Griff Green Sat 22 Dec 2018

I would say that if there was an expectation that you were speculating on ETH then we have to keep that expectation, other wise its not fair to teh people who claimed their milestones at the right moment.

We have only had DAI on the platform for 2 weeks... and honestly its still not really working :-( The earliest i would say we can start doing DAI milestones is December.

K

Kay Sat 22 Dec 2018

| We have only had DAI on the platform for 2 weeks... and honestly its still not really working :-( The earliest i would say we can start doing DAI milestones is December.

That sounds reasonable =)

K

Kay started a proposal Sat 22 Dec 2018

When things are paid for in ETH, we should repay in ETH? Closed Tue 25 Dec 2018

Results
Agree - 7
Abstain - 1
Disagree - 0
Block - 0
8 people have voted (18%)
K

Kay started a proposal Sat 22 Dec 2018

For expenses in Fiat, pay in DAI? Closed Tue 25 Dec 2018

Results
Agree - 5
Abstain - 2
Disagree - 0
Block - 0
7 people have voted (16%)
K

Kay started a proposal Sat 22 Dec 2018

Pay regular rewards in DAI? Closed Tue 25 Dec 2018

This was the main proposal, so this technically has been approved already, but was one of the questions that came in the next round, so its still included as separate proposal

Results
Agree - 6
Abstain - 2
Disagree - 0
Block - 0
8 people have voted (18%)
K

Kay started a proposal Sat 22 Dec 2018

Reward DAO will still be paid in ETH? Closed Tue 25 Dec 2018

Results
Agree - 7
Abstain - 0
Disagree - 1
Block - 0
8 people have voted (18%)
K

Kay started a poll Sat 22 Dec 2018

What is the earliest time we allow milestones to be in DAI for? Closed Tue 25 Dec 2018

This was not included in the original question, but I think as a vote this only makes sense for Reg Rewards and Expenses.

0 - November
0 - December
5 - Mid-December (when proposal was approved in Gov Meeting)
2 - Once we have it working 100% in the DApp (soon) - require another proposal
K

Kay Sat 22 Dec 2018

I started all of these proposals, since questions by Griff and me did not reach quorum sized feedback. If there are more questions, please add them to the poll!

K

Kay started a poll Sat 22 Dec 2018

What do we do if we have too much ETH and not enough DAI... Closed Tue 25 Dec 2018

Outcome
by Kay Sat 29 Dec 2018

The following has been proposed an approved as outcome of this loomio:

"From Dec 15th 2018 all Regular Reward have to be filed in DAI. Expenses can be filed in DAI. Reward DAO stays in ETH. Giveth gets more DAI from soliciting more donations in DAI"

This is a new policy that has also been added to approved policies on the wiki:
https://wiki.giveth.io/policy/approved-policies/

do we convert it? How do we do that? Can we "Sell" it... Thats what I am doing for the Aragon DAC now.. but then the donors lose their connection to their currency... Maybe we just need to solicit more donations in DAI?

Please add another option to the poll if you have another idea!

2 - Convert from ETH to DAI
2 - Solicit more donations
0 - Open CDP
2 - Integrate automated conversion into the dapp (coinpayments/oasisdirect?) so the connection is not lost
PL

Pol Lanski
Disagree
Sat 22 Dec 2018

I think Reward DAO is a great entry gate for people that might not necessarily be into crypto, and it's not a payment for services but a "reward" for helping out... It's better and more useful to get new people into the ecosystem to give them ETH, which has more possibilities!

PL

Pol Lanski
Agree
Sat 22 Dec 2018

PL

Pol Lanski
Agree
Sat 22 Dec 2018

That one make sense to me, as it's the easiest way to match exactly the value of what was paid and refund it.

BS

Bowen Sanders
Agree
Sat 22 Dec 2018

BS

Bowen Sanders
Agree
Sat 22 Dec 2018

JF

Josh Fairhead
Agree
Sat 22 Dec 2018

It seems like the most consistent way to do things

JF

Josh Fairhead
Abstain
Sat 22 Dec 2018

More preferable than Ether but theres still overheads involved in cash in/out. One of the better ways of handling things, but not ideal.

JF

Josh Fairhead
Agree
Sat 22 Dec 2018

$ peg makes it an extrinsic motivator, the more serendipitous the better!

GG

Griff Green Sat 22 Dec 2018

Mid-December (when proposal was approved in Gov Meeting)
GG

Griff Green Sat 22 Dec 2018

Solicit more donations

Integrate automated conversion into the dapp is a pipe dream until we move to the xDAI chain... and even then, its a pretty ridiculous ask on the tech side.

GG

Griff Green
Agree
Sat 22 Dec 2018

GG

Griff Green
Agree
Sat 22 Dec 2018

GG

Griff Green
Agree
Sat 22 Dec 2018

GG

Griff Green
Agree
Sat 22 Dec 2018

KI

Kris is
Agree
Sat 22 Dec 2018

KI

Kris is
Abstain
Sat 22 Dec 2018

I'd let people chose, no? Some people prefer eth bcs they want to support the system? I'm fine with both decisions, if we need to decide.

JF

Josh Fairhead Sat 22 Dec 2018

Once we have it working 100% in the DApp (soon) - require another proposal

Interesting question, no opinion on this particular round if precedents have been set but I'd suggest that only once the reality manifests should agreements be allowed to take effect. Otherwise we are encouraging speculation (and in other cases it that could be that we end up wasting time discussing things that never matter because they actually never manifest!)

AS

Adam Stallard
Disagree
Sat 22 Dec 2018

Anything akin to salaries should be paid in the most stable currency available and usable by both parties. Since DAI is now an option, I would prefer DAI.

KI

Kris is Sat 22 Dec 2018

Integrate automated conversion into the dapp (coinpayments/oasisdirect?) so the connection is not lost

For now we can convert (no cdp or we'll be considered playing with their money) but integrated conversion should be put on the roadmap

KI

Kris is Sat 22 Dec 2018

Mid-December (when proposal was approved in Gov Meeting)
AS

Adam Stallard
Agree
Sat 22 Dec 2018

If the payee wants that. How about letting payees decide whether they want ETH or DAI?

KI

Kris is
Agree
Sat 22 Dec 2018

I for one, hope that they'll be able to buy a lambo one day with those points. FYI to Adam S: RewardDAO is meant as a welcoming incentive, not salary.

AS

Adam Stallard Sat 22 Dec 2018

Mid-December (when proposal was approved in Gov Meeting)

Considering that BrightID has $11,000 in DAI in its Giveth campaign, and is expecting to have $44,000 more in the next couple of weeks, we need a way to transfer that to individuals as soon as possible.

KI

Kris is
Abstain
Sat 22 Dec 2018

I think ideally people should be allowed to choose. That's also why we have the option - but I'll go with the majority.

KI

Kris is
Agree
Sat 22 Dec 2018

KI

Kris is
Abstain
Sat 22 Dec 2018

I think ideally people should be allowed to choose. That's also why we have the option - but I'll go with the majority.

JF

Josh Fairhead Sat 22 Dec 2018

Integrate automated conversion into the dapp (coinpayments/oasisdirect?) so the connection is not lost

I think we should be as donation agnostic as possible to maximise input flow! For operations however it makes sense to convert into DAI (minimise currency volatility etc) but as mentioned traceability is still important. Keeping choice open I'd suggest that non automated conversion would be way to go, if there is massive demand for automation it can be done later perhaps. The follow up question/decision being which service/tool to use (lowest margin? easiest SDK? etc).

AS

Adam Stallard
Agree
Sat 22 Dec 2018

AS

Adam Stallard
Agree
Sat 22 Dec 2018

Let the payee have a choice, but to me this preferable.

K

Kay Sat 22 Dec 2018

Integrate automated conversion into the dapp (coinpayments/oasisdirect?) so the connection is not lost

If that is possible somehow, I would love this solution!

K

Kay Sat 22 Dec 2018

Mid-December (when proposal was approved in Gov Meeting)

I was hoping for DAI to be available for milestones at least from the day it had been approved in gov meeting.

K

Kay
Agree
Sat 22 Dec 2018

To clarify - this means Reward DAO stays on ETH (I think Lanski might have gotten it the other way around?)

K

Kay
Agree
Sat 22 Dec 2018

I think that by trying to migrate as much as possible to DAI and harden the software in that direction, the more useful our DApp gets for collecting donations.

K

Kay
Agree
Sat 22 Dec 2018

K

Kay
Agree
Sat 22 Dec 2018

PL

Pol Lanski
Agree
Sun 23 Dec 2018

I think Reward DAO is a great entry gate for people that might not necessarily be into crypto, and it's not a payment for services but a "reward" for helping out... It's better and more useful to get new people into the ecosystem to give them ETH, which has more possibilities!

K

Kay Mon 24 Dec 2018

Convert from ETH to DAI

I changed my answer (had direct exchange before - but don't think its feasible). I would suggest to have a standard budget in DAI (in percent or absolute numbers), to have a stable budget to better plan and survive economic downturns

MR

Michael Roberts Mon 24 Dec 2018

Mid-December (when proposal was approved in Gov Meeting)
MR

Michael Roberts
Agree
Mon 24 Dec 2018

MR

Michael Roberts
Agree
Mon 24 Dec 2018

MR

Michael Roberts
Agree
Mon 24 Dec 2018

MR

Michael Roberts
Agree
Mon 24 Dec 2018

MR

Michael Roberts Mon 24 Dec 2018

Convert from ETH to DAI
JF

Josh Fairhead
Abstain
Mon 24 Dec 2018

BS

Bowen Sanders
Agree
Mon 24 Dec 2018

BS

Bowen Sanders
Agree
Mon 24 Dec 2018

BS

Bowen Sanders Mon 24 Dec 2018

Once we have it working 100% in the DApp (soon) - require another proposal
BS

Bowen Sanders Mon 24 Dec 2018

BS

Bowen Sanders Mon 24 Dec 2018

Solicit more donations