Protocol Owned Liquidity Vote

This is a vote for the proposal we discussed last week regarding the GRAPE treasury selling bonded GRAPE.

You can find the proposal and the discussion here: Protocol Owned Liquidity (PoL) - Grape Community Treasury

Proposal Vote:

  • Proposal Approved
  • Proposal Denied

0 voters

To be decided if this vote passes:
A. Fee structure
B. Redemption of the bond: Should the bond be partially redeemable (dynamic release of the coins per block) or all the coins should unlock at the date of maturity?
C. Rate of change of the discount of the bond (linear vs exponential decay function)
D. Starting Bond Maturities? (30 Day, 365 Day)

7 Likes

Given the inherent complexity of POL, this vote should have an “abstain” option.

FWIW I voted yes as I trust your judgement

3 Likes

We got a discussion thread where whale’s friend went into great detail regarding the financial and technical implications of POL. So at least imo it does not make sense to have anything else other than a binary voting option of approve VS deny

3 Likes

That discussion is not specific to this proposal but I would absolutely disagree with this statement.

4 Likes

Seems like you are having some doubts. Could you please share your reservations! I would love to have you involved in this! I thought the proposal was pretty detailed!

Regarding the abstain vote, I think it’s the same as not voting at all! I would prefer though anyone with defi experience (like you) to help me with positive or negative comments in order to optimize it!

Please voice your concerns! <3

4 Likes

Please voice your concerns! <3

No concerns, just an acknowledgment that we are entering uncharted territory.

Regarding the abstain vote, I think it’s the same as not voting at all!

Not at all. If we incentivize people to vote (punish for non-voting), we risk end up in a situation where everyone just votes Yes/No, even if he might not feel to be in a position to cast a vote.

Contrary to non-voting, abstention signals the person is willing to engage in governance.

6 Likes

@tmnxeq pointed it out already and we also discussed this in Proposal & Voting Rules although it revolved more around abstentions counting towards a threshold.

I firmly believe that every vote should have an option to abstain, otherwise a reason should be given why there is none. I mean, we want people to participate and be engaged in voting. If we force them to make a binary decision, there is an increased risk that they just vote, without understanding what they vote. If they can abstain though, they could always choose this route and if after a vote closes there are more abstentions than yes|no votes then it tells us, that either the proposal wasn’t clear or people didn’t care enough.

7 Likes

Questions:

  1. How much Grape is going to be bonded?
  2. How much bGrape does Grape need to sell?
  3. How does this work? Who mints the bonds?
2 Likes
  1. 500k $GRAPE will be offered for bonding
  2. we are starting with 30 day streams exchangeable for Raydium $GRAPE - USDC LP. We do not NEED to sell any but we hope to sell all 500k $GRAPE. Bonds are gonna start at market price and can go +25% over market price and -25% under market price.
  3. Socean is building the contracts, we control the mint of bGRAPE!

We are launching on the 9th of Feb!

9 Likes