Upcoming $GRAPE Token Mint and corresponding thoughts

tl;dr (although you probably should read and reply):
Regarding the $GRAPE Mint, at the very least, the following needs to happen:

  1. Assess current situation
  2. Define goals regarding (desired) future governance
  3. Evaluate impact of Minting scheme
  4. Decide on Minting scheme
  5. Decide on governance structure (e.g. Realms)
  6. Decide on notice for Private Investors

So, I had hoped to join the discussion but it seems that I need to make a start here :sweat_smile:
First of all, let me show you what helped me to think about the upcoming $GRAPE mint and the questions revolving around the topic (just a rough draft, relax):

It isn’t finished and I might update it, but I used it, to order my thoughts and to get a better understanding of the implications regarding the different questions we need to answer.

What did and didn’t happen so far:

  • 130 million $GRAPE have been minted so far
  • Private Investors/Team didn’t receive their token allocation for 2 months (Sep/Oct)
  • Private Investors haven’t been contacted/updated/onboarded
  • Not all $GRAPE allocated to the Community have been distributed
  • Circulating Supply hasn’t been updated (Coingecko; ~100 million instead of 130 million)

During our last DAO Call, we briefly talked about 4 possible ways of dealing with issues regarding Realms and Quorum (blue boxes):

  1. Delegate $GRAPE
    – Give active Members access to $GRAPE on Realms so that the Community’s opinion stays relevant
    – feasibility needs to be evaluated
  2. Award/allocate $GRAPE to Members
    – Distribute $GRAPE to active Community Members
    – Goal is to allocate >60% $GRAPE to the Community (overall/cumulatively)
  3. Create a temporary DAO
    – Create a temporary DAO where active community Members have a voice and can vote
    – Council Token execute successful proposals in the main DAO
    – Who has (how much) voting power?
  4. Do nothing
    – Approval Quorum would potentially be 40 million
    – The Team would then wait for the Community to vote and amplify their voice (reach quorum)

While there are certainly other ways to address those issues, for me, it is important to stress that finding answers to the question of voting and the matter of reaching a quorum (not risking becoming inquorate) is only one aspect to consider.
We talked about minting everything at once and it sounded as if this was already a given, but why is that? My understanding is that it would be the more convenient way. What I’m missing is the discussion about pros and cons, because I can very much see downsides; primarily in terms of market cap and price. And, therefore, has a direct impact on a) people who acquired $GRAPE and b) want to buy more voting power.

Also, the $GRAPE from the Community allocation, which hasn’t been distributed to individual wallets so far, shouldn’t be considered allocated to the Community, since as long as it can be taken away again (e.g. through a Realms proposal), Realms only acts as a fiduciary.

What I understood needs to happen:

  • Remaining 870 million $GRAPE need to be minted (to reach 1 million)
    – mint everything at once, vs.
    – continue to mint iteratively
  • $GRAPE distribution is following the token allocation described here
  • Find a way to not become inquorate (e.g. on Realms)
    – Find Approval Quorum (currently 4%)
    – Ensure that the voice of the Community gets heard/doesn’t become powerless
  • Decide who should have how much ‘voting power’ (based on what); stakeholders are:
    – Community
    – Team
    – Private Investors
  • Private Investors need to be contacted and informed of what to expect/do/hope for

What also to think about:

  • Decentralization: What about the minting authority?
  • Future Community allocations, to keep the ~60% ratio

I’m still sorting out some things for myself, but, at the same time, I wanted to get things going.

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Notes from todays discussion:
The GRAPE for investors in the Private Sale must be streamed out monthly over the next 10 years. It would be preferred to have an automatic on-chain open-source solution to handle this.

Currently such a solution is not available. Streamflow could be used, but it is closed-source and as such we cannot verify that it is secure and only trust that it is secure.

A decision we must make is from which address the streaming should originate from
A) Grape Realms
B) Some other address, e.g. squads multisig
This decision also encompasses a considerable increase/inflation of the Grape Treasury if we decide to go with option A.

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@CryptoPawz

The chart you have provided demonstrates the exact next steps, after minting.

Assumption: If the full Grape supply is minted in one go directly to the DAO controlled wallet (perhaps council in the beginning) this would not affect coin gecko. Yes, the total supply would now be the max supply, but the circulating supply would not be affected. Where it gets tricky is when we setup each stream for the investors , team, community.

The purpose of the vesting is to guarantee the schedule based on the tokenomics.

  • The vesting options are bonfida,streamflow , mean fi , and the VSR program.

Bonfida is outdated but was the gold standard on the OG projects (open source ) https://vesting.bonfida.org

Streamflow is modern, allows easily transferring vesting schedules. (not open source)

MeanFI payment streams when sent from a treasury address do have the ability to keep track of the tokens still in the treasury. Although this is not a classic vesting contract it does exactly what we want out of the box, Being able to look at the treasury balance and exclude from supply would make our life a lot easier. The tokens need to be claimed, on streamflow usually they simply drip in your wallet.

VSR The voter stake registry plugin, has a built in vesting functionality. It does not have a account to keep track of the locked vs unlocked tokens and a update is needed in this program. Open source and deeply integrated in realms

The manual updates on the quorum is something we will need to be updating with the council until the 4% of circulating supply is actually achievable with the community at 40,000,000 Grape

As there is a pretty big impact in how we proceed on what our next steps will be, its a good idea to understand all the options we have.

We might end up having a different streaming solution for each group to mitigate any potential risk i.e

  • Streamflow for investors

  • MeanFi for team

  • VSR for community

The issue is how do you guarantee 5M Grape are added in community controlled treasury automatically every month with no centralized intervention?

Wouldn’t it be nice if we can make a proposal to claim this Grape monthly from the vesting on any of the solutions we chose to use.

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so I don’t think there is a point in discussing token price and mcap as its a dual edged sword if we look at it either way…if the supply is increased its also a confirmation that no further supply is going to come so the reaction (if any) will be short term either way…the basic question that arises here that if we do mint everything, there is no more minting authority left for the community moving forward anyway, NO?

i do have concerns with the security and becoming a target for all the bad actors…but that’s not a good enough reason IMO. I mean we are already in a risky space for such incidents anyway.

thirdly, I do think that the core vision of GRAPE is to go decentralized…and giving the control to the community so I do think it ll be a statement doing that sooner than later. so if put to vote I might as well say YES.

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