And HOW do I vote? Would there be a poll created here in the forum to vote or how?
the team is preparing a dedicated page to facilitate the voting. I’m not sure on technical details yet
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you will sign a special transaction using your private key, verifying that this wallet with this amount of CVP voted for this option. This message is cryptographically secured and can be verified as nobody can produce signed message besides private key of your wallet.
Read more: https://docs.snapshot.page/
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Does this work also for CVP-ETH pairs?
do you mean: does your votes count if CVP is used for providing liquidity on Uniswap?
Yes, I meant exactly that.
I think we have a really nice community treasury of >400k and at the moment we earn about 100k a month. If the community wants a management board, we should pay them “ourself” and keep the cvp inflation as small as possible. We are talking about years where we want the cvp distributed.
So i suggest with xCvp we create a system like that:
Some kind of smarttreasury (like a balancer pool). We always keep about 200-300k in the treasury as a cap. 50% cvp tokens, 50% stablecoins. Everything that enters this treasury will buy 50% cvp and 50% stables to fill that pool. Everything above that should be distributed to the xcvp stakers.
And out of that treasury we should pay the managementboard with stables. If the members think its a good idea they can buy cvp on their own or do whatevery they want. With this way we dont have any discussions if they earn too much or not enough. Its up to you to decide if 3-4k per month is enough and every 3 months their work should be reviewed and the community should vote again.
With the rest of the treasury we can hire more community members or invest it in different things.
The implementarion of this management board is super awesome and really important. If you get a good community, you get investors and developers and thats the way to the moon. Hope you like this idea, would improve our treasury aswell.
Ps: on top of that we could stake the cvp for xcvp and yieldfarm with the stablecoins (yearn vault) to earn even more.
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Just for your information, thats just handling a own seperate community treasury. We need a big warchest to compete with the big guys. More developers, more strategists, researchers, ui/ux devs, marketing, audits etc.
So we need to find a way to fund those things in the medium to long term anyway. Always im mind that we dont want to inflate the cvp token.
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I don’t mind this idea. However, before we go about agreeing on this I really think we need to start rewarding active community members for voting on the proposals to date. At the moment its all been theory about xCVP etc - when will active community members be paid out in cash flows from exercising governance. The core value principles of CVP was and always has been meta-governance and cash flows with running the project in a decentralised manner. If meta-governance isn’t ready yet…we can at least get the cash flows sorted. We run a real risk of becoming some sort of meme index token which is hyperinflated away. The IL on the CVP/ETH pool has been ridiculous and many of us have spent a lot on gas fees in voting on proposals etc. The community will become stronger the moment they see tangible output from their time and money spent engaging within the community and voting on proposals. It is incredibly empowering. To see the bulk of the treasury then being distributed to a select few Boards members before the small fish are sorted out isn’t the right priority imho
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Oh, and it goes without saying - for those Board members we eventually select, my view is that they should not be anonymous.
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overall agree, but
- this mechanics will work on later stages imo
- I believe CVP should be the currency of nomination atm.
the inflation from these “salaries” is neglectable
appreciate the opportunities to express my gratitude for your constant and smart effort on inflation minimization btw
Can we please make tester token re-evaluation a priority task for the board (if board passes the vote) since its very urgent.
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yes, absolutely. will put the proposal onchain early next week
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Blockquote At first I thought the rewards seemed high, but IMO the value this board could provide for the future of CVP is worth it. 350K CVP rewards over an 18month period is minimal compared to what we pay out to LPs each month, so it’s worth the investment if the board can help speed to market.
Pretty much this. Also, it seems obvious that everyone welcomes the idea of forming the PP Management Board (including the PP team), so now it seems it’s a matter of discussing terms of the payments. It’s all fine detail IMO, it will be something that can and should be re-evaluated every 3 months anyway.
So in reality the proposal is for the project to commit 58K for 3 months (for 5 members), and then the situation will be re-assessed. Are you going to vote AGAINST for 58K?
Testers got 50K each, in this case they’ll each get 11.6K tokens for 3 months work, for work that each and everyone of them has shown enough commitment to deserve a chance.
I’m just trying to be pragmatic here.
@Glow the community will still vote for most matters (as it should, we’ll just have a dedicated team to help us prep them more actively). Agree with layer 2 voting, but it seems like we’r going for the snapshot alternative for now.
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this should and will be something that needs to be properly analyzed, that’s why we need the management board in place.
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Reference to Testers Distribution is kind of outdated.
I have the strong believe that everyone in here, regregts giving 50k to Testers.
This was decided, way before the price of Token was discovered. -
Also I think that referring a CVP price of 2$ is not fair.
I think we should think more in terms of how much CVP does the board earn (maybe percentage wise of supply - rather than in USD) -
if USD - equivalent is more important, a rewards in USD could be set.
As a note: if the board doesnt manage to keep the price above 2 $ - Shareholder may feel the board failed.
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- I don’t like to refer to testers allocation, but I can’t ignore the reality and facts at the same time.
Team has a well deserved 5 mn allocation.
As far as we can judge the team is likely not large than 10 people.
Thus we are speaking about 1/10 (likely even 1/15) of the teams allocation which is pretty low comparing to the payment structure in irl companies.
- Again, we can’t ignore the facts: most time price has been around $2 and has always been dumped when growing above 3.5
Just check the Dynamics of tokens outflows to CEXes (namely binance)
So what if eth ones to 1200 levels now? I doubt CVP will grow against the eth price decrease
Obviously the management board is here to fundamentally increase the price, but saying that the price will be 10 bucks after 3 months of work is pretty much yolo (though will all hope this will be the case)
And very nice take from @dae - the community actually votes to allocate a small portion of tokens for 3 months and see how it works.
No it is not…
This is the most awful proposal I have ever seen in my life…going way beyond blockchain and defi… absolutely awful… how about instead we just give all CVP inflation the ‘elite 4’ for their invaluable input?
“Over the course of the first month the Management board should structure and publish a more detailed scheme of how it works” - this is an absurd statement…let’s implement something whose purpose will only be defined post-factum…that’s not how it’s done…
The salary is absolutely preposterous…
Firmly against
I think that we need to have this. I know it’s not total blockchain democracy. But it’s not really ideal to have such a open ended democracy. We need some hierarchy here. Take a look at some of the articles Sergey mentioned!
I initially too was not too happy with payment of 70k cvp with 18month vest. But now that I think about it i am ok to give it a go.
Reasons:
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This board consists of members that have been highly active in the project in the past so deserve compensation for their work anyway,
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They are a group that has demonstrated they are very knowledgable and have the qualities to produce good outcomes for this project,
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they are trusted members of the comnunity,
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70k allocation for all 5 members in total with 18month vesting will only be 58,333 CVP which really is little for 5 members for 3 months of hard work,
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Every 3 months we review the board members and can remove If they dont do their job and thus their unvested tokens dont get released.
I understand that yes giving the proposal a pass when there isnt a plan ready yet is a concern for me too. But again this team are very trust worthy, creating this plan will require quite a bit of effort I imagine and so they dont want to do it and not be paid for that month which is fair view for them to hold, and we just dont have enough time with competition heating up we need real efficiency because the core team on it’s own isnt enough. We need management that will capitalize on powerpools advantages. So we need this now in my view!
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