Bonding curve opening


  • Bonding curve opening: The bonding curve will be opened for anyone to convert tokens from and to wxdai (remember that tokens minted in the hatch are locked, so they can’t be sold or transferred, but has all voting power).
  • Initial buy: We have set apart 265,000 wxdai to be converted to TEC and managed by the DAO, just after the bonding curve is opened at approximately 1 wxdai/TEC (previous to ABC tributes). We estimate the initial price after the initial buy will be approximately 1.41 wxdai/TEC (previous to ABC tributes).

Proposal description

In the hatch migration we used the parameters as stated in the original Goldilocks, where a ragequit of 60,000 wxdai was considered, but we had less ragequitters.

In order to readjust the parameters to keep similar numbers, we need to:

  • Increase the initial buy from 250,000 to 265,000 wxdai (in order to do that we need to grant permission to tao voting to transfer tokens from the common pool, and transfer 15,000 wxdai to the agent we set apart for that)
  • Reduce a little bit the Commons Tribute by sending 3435.49 wxdai from the reserve to the common pool.
  • Change the Reserve Ratio from 19.98% to 19.82%.

Additional information to add

The vote can be found in the TEC garden.