Proposal #4 — Commonwealth Generation Event
Good morning penguins!
I have created a new token contract I call a ‘Commonwealth Credit’,
A commonwealth credit is a wrapped aToken that delegates it’s interest power and a small transaction fee, for the good of a commonwealth.
I have deployed the first commonwealth credit contract for aDai here.
With this contract, anyone can wrap or unwrap aDai to mint or burn ⛩ (Tori), our latest token. Through the liquidity pools, I hope arbitrageurs will peg Tori 1:1 with DAI and that the transaction fees generated will be of benefit to the Commonwealth of the Penguin Party.
With this in mind, I have submitted the latest Core proposal in Penguin Party governance, Proposal #4:
This proposal has several riders which I will detail with bullet points.
So let’s get down to Penguin Business…
- Set 🦐Shrimp, 🦀Crab, and ⛩Tori fees to .1%
- Set 🦐Shrimp, 🦀Crab, and ⛩Tori fee destinations to a new address controlled by me (Hiturunk.eth) to be used as a petty cash address in lieu of the multisig.
This will seperate commonwealth fees from my personal address, but allow me to retain temporary and flexible control of the fees for the benefit of the community. ( I don’t think my cofounders want to have to meet every day to distribute taxes to OG’s or similar, I ask that you trust me to retain this power temporarily)
- Allocate 5,000 fish from the treasury to be escrowed by Hiturunk for the purpose of generating initial commonwealth liquidity: 2,500 fish will be sold OTC at spot price to any interested party to raise aDai to mint Commonwealth Credits. (If no interested party presents itself, I will return the fish to treasury.)
The other 2,500 fish will be liquidity pooled against the commonwealth credits and the shares will be sent to the treasury.
As well, several members of my core development team are deserving of a payment for the services they have provided to the project and I think it is in the community’s interest to continue to engage them with a payment of fish. These developers have done amazing things on the project and we couldn’t have made it here without them:
- Allocate 200 fish from the treasury to Pooryia for designing our logos and backgrounds for penguinswap, and for his continued work in the project.
- Allocate 200 fish from the treasury to cComp for his continued work on the PWA-compatibility of Penguinswap and integrations advisement.
- Allocate 200 fish from the treasury to Ncitron for his continued work on the Unigov dApp and usability fixes on penguinswap.
- Allocate 100 fish from the treasury to community member GIOCR for his work on mobile compatibility for the Unigov dApp.
TOTAL EXPENDITURE: 5,700 FISH
Core team payments: 700 fish
Pooryia: 200 fish,
cComp: 200 fish,
Ncitron: 200 fish
Giocr: 100 fish
Liquidity Generation (Hiturunk as escrow): 5,000 fish
I think these actions will be in the interest of the Penguin Party community going forward, and I ask that you give feedback or ask questions in the community discord about the proposal!
Signed,
0x0be0ecc301a1c0175f07a66243cff628c24db852, Hiturunk.eth —
- LINKS:
- PenguinSwap: https://penguinswap.eth.link/
Tokens:🐟Fish,🦐Shrimp, 🦀Crab, and ⛩Tori - Uniswap Governance Dapp: https://unigov.eth.link/
- 🐧Penguin Party Treasury🐧:https://gnosis-safe.io/app/#/safes/0x686B4535FF6573cef3FF37419A4fc6Ac775Ec7ea/balances
- 🐟Voting:https://snapshot.page/#/penguin-party/community
- 🐟Scoreboard:https://penguinparty-eth.github.io/SourceCred-Instance/#/explorer
- Discord: https://discord.gg/pkmBgQr
- Medium: http://medium.com/@Hiturunk
- Twitter: https://twitter.com/PenguinpartyETwitter: https://twitter.com/HiturunkE
- Youtube:https://youtube.com/channel/UCvcz0jSa65MZSQMB3hMNAkA
- Codecks [Our Project Management Platform]: https://open.codecks.io/-penguinparty/