Hatching a New Economy

Welcome! Our Hatch is open for active Trusted Seed members and builders of the Token Engineering Commons!

The vision of the Token Engineering Commons (TEC) is to advance the field of token engineering by creating ethical, safe, resilient and diverse economic systems to benefit societies around the world.

In the short term, the goal of the TEC is to fund proposals to build out token engineering public goods. In the long term, the goal is to expand the frontiers of the token engineering field and have the TEC as an advisory body, protecting public interest.

We are curating a rich community culture built on the principles of integrity, trust and communication. We encourage members to be radically open source and support the collective, prioritizing the advancement of token engineering over short-term profits.

We believe that our prosocial, human-centered perspective and our diverse community of experienced contributors truly has the potential to revolutionize global economic systems. The future of token engineering is upon us, and your chance to get involved is NOW.

We're happy to have you here; let's advance token engineering!

Welcome to the TEC Hatch.

Frequently Asked Questions

How does the Hatch work? During the Hatch period, legal members of the Trusted Seed (CSTK token holders) can send wxDai to mint TEC-Hatch (TECH) tokens. There is a Minimum Goal that needs to be reached in order for the TEC hatch to be successful. If that amount of wxDai is not collected, the Hatch fails and 100% of the funds are returned. If the Minimum Goal is reached or surpassed, one week after the Hatch period, TECH holders will be able to vote for and ratify the Commons Upgrade parameters. For more details, click [here.](https://forum.tecommons.org/t/the-hatch-tl-dr/272)

What is wxDai? wxDai is the token that Hatchers are required to send in order to participate in the Hatch. wxDai is the wrapped, ERC-20 tokenized, copy of the xDai stable coin that exists on the xDai network Ethereum sidechain. For a step-by-step guide on how to get wxDai, check out our forum post [here](https:forum.tecommons.org/t/how-to-get-wxdai-a-bridging-story/347). If you still have some questions or need further assistance for getting wxDai, feel free to ask in our [Discord Server](https://discord.gg/8eCYn5EzjZ).

How does the HatchDAO work? In the HatchDAO, builders and backers will be minted non-transferable TECH tokens proportionately according to their contributions. They will be able to use their tokens to vote via [Dandelion Voting](https://www.notion.so/Technical-Documentation-2dea29d0a3014e6db22d8f17cf93e7d1) to collectivelly decide on the parameters of the economy for the Commons Upgrade. You can read more about the HatchDAO in this infographic: ![](https://i.imgur.com/3F0iUDm.png)

What if you want to exit the HatchDAO? Participants can exit the HatchDAO by "ragequitting": effectively withdrawing their funds from the future Commons, minus a non-redeemable percentage (the Hatch Tribute and the Cultural Build Tribute). Ragequitting can be done any time between one week after the hatch success and the Commons Upgrade, provided that tokens are not actively voting on proposals. To read more about ragequitting, click [here](https://forum.tecommons.org/t/ragequitting-ragequit-delay-and-how-they-work/130?u=chuygarcia92).

What is the Commons Upgrade? The Commons Upgrade will be the starting point of the TEC Commons. The whole purpose of the HatchDAO is to design the economy of the Commons Upgrade. The upgrade will include the launching of an Augmented Bonding Curve (ABC) for the TEC token, and Disputable Conviction Voting. Participants of the HatchDAO will have their TECH tokens converted into TEC governance tokens, whose value is determined by the ABC. The token will be transferrable and the general public will be able to buy and sell TEC tokens against the bonding curve. To learn more about the Commons Upgrade, click [here](https://forum.tecommons.org/t/how-you-can-hatch-the-tec/328).
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