We are submitting this to the Forum for advice process, ideation, evaluation, everything! There is a lot to consider here so let’s get started. Any proposals would need to be voted on before the Commons Upgrade, of course, so within the next few weeks. Need decision on the amount of money 3 weeks before the upgrade. Target of September 15 would be great.
There is an opportunity for the TEC to do an initial buy into the bonding curve at the moment of initialization. The advantage is that this will allow the DAO to acquire TEC tokens at the initialization price - before bots and other market actors drive the price up. The Token Freeze and Token Thaw parameters will impact how long the TECH-converted TEC tokens are frozen, maintaining a floor price for the TEC token itself.
The DAO would use its own funding for this purpose. Funding that would otherwise be allocated to the common and reserve pools. All of these allocations will be determined as part of the Commons Upgrade parameter vote.
The first step is to explore possible use cases for these initial TEC tokens and how much of the Hatch raise should be allocated to each specific use case. The feasibility of some of these use cases may depend on whether the Community votes (as part of the Commons upgrade) that the TEC token be transferable.
Some possible options we might consider are:
- Fund the Reward DAO for distribution of TEC rewards for SourceCred and Praise.
- Token swap and/or other structures for DAO 2 DAO partnerships.
- Strategic, value aligned venture partners whose promotion and backing will behoove the TEC.
- Add liquidity on secondary markets - e.g. honeyswap pools for ETH/TEC. All the swap fees collected go directly into the Common Pool to be used for TEC initiatives and upkeep. (New idea submitted by Mitch.)
- what other ideas!?
The next steps:
Exploration of ideas! Evaluation and debate on the advantages and disadvantages of the use cases above and others that might be submitted as part of this forum thread.
Community sourced champions, and proposals, for specific use cases.
Zeptimus & Tamara