changed 4 years ago  
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tags: CommonsConfig

Disputable Conviction Voting

Disputable Conviction Voting is the governance system in which Commons Members create proposals to request funds from the Common Pool. TEC tokens can be staked on these proposals to signal approval of the request. Staked tokens accrue voting power, or Conviction, continuously over time. The logarithmic function that decides the rate at which Conviction accumulates is Conviction Growth.

This is the real power behind the TEC token. TEC holders have a direct impact on funding Token Engineering by reviewing projects and voting on which initiatives get funded and how much funding they receive.

The Relative Spending Limit sets the maximum percentage of the Common Pool funds that can be requested by a single proposal. The Minimum Conviction dictates how many TEC tokens are needed to pass a proposal, no matter how small the amount requested.

USER INPUTS:

  • Conviction Growth (Half-life)
  • Relative Spending Limit (Max Ratio)
  • Minimum Conviction (Min Threshold)

Tables and Graphic Ideas

Parameter Text

Spending Limit

"How much of the Common Pool's funds can be requested in a single proposal?"

Conviction Growth

"How quickly should staked TEC tokens accrue Conviction?"

logarithmic slider that scales up or down the conviction rate(half-life)

"How many tokens are needed to pass a proposal request for one cent (0.01 wxDAI)?"

the request is for the lowest possible amount of funding, asking for more will take more tokens, this is also affected by conviction growth50

Passes In: 7 days 14 days 1 month 3 months
Requires(%) of all tokens being used in CV: 70% 50% 35% 20%

This graph is the output that would bring together all 3 parameters

Variables Scenario 1 Scenario 2 Scenario 3
Example Requested Amount (wxDAI) 50,000 100,000 2,000,000
Common Pool (wxDAI) 1,000,000 5,000,000 10,000,000
Tokens voting on proposals (Effective Supply) 100,000 150,000 500,000
Maximum Request Amount(wxDAI) 200,000 1,000,000 1,750,000
Minimum Tokens needed to pass in 2 weeks 12,000 15,000 300,000
Minimum Tokens need to pass in 7 days 20,000 40,000 475,000
Opening Price 7 days Opening Price
Spending Limit Current TEC Price Entry Tribute
20% 2.15 wxDAI 5%
Variables Scenario 1 Scenario 2 Scenario 3
Example Requested Amount (wxDAI) 50,000 100,000 1,500,000
Common Pool (wxDAI) 1,000,000 5,000,000 10,000,000
Maximum Request Amount(wxDAI) 200,000 1,000,000 1,750,000
Minimum Tokens need to pass 20,000 40,000 475,000
wxDAI Needed to Buyout the Vote 58,567 98,786 1,112,987
Tribute Collected from Buyout (wxDAI) 2,799 6,127 59,623
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