Loomio
Thu 29 Nov 2018 5:57PM

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 5:58PM

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 12:18AM

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 5:10AM

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 :) )

GG

Griff Green Wed 12 Dec 2018 6:50AM

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

L

Loie Wed 5 Dec 2018 6:08PM

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 Sun 16 Dec 2018 1:29PM

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 5:07PM

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

K

Kay Sun 16 Dec 2018 3:41PM

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.

GG

Griff Green Sat 22 Dec 2018 2:45AM

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 12:38PM

| 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 =)

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