Ostrom’s $1,000,000 Hatch, Fledge & Fly! Now slightly damped at the extremes producing a viable and balanced proposal. Only softened about 6 variables from the original "Ostrom's $1,000,000 Hatch, Fledge & Fly!" #136
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What is the overall Commons Configuration strategy?
Did you know that from hatching to leaving the nest a bird can increase its weight by as much as 10 times?
Influenced and inspired by:
#113 - "The Fledge"
#74 - $1 Gambit for $1,000,000 Goldilocks Orogeny
#109 - The Bolshevik's Gambit fork with Revolutionary Opening Price and Iron Curtain Conviction Voting
#124 - Montaña Rusa: The Communist Roller-Coaster
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Summary
Module 1: Token Freeze & Token Thaw
Module 2: Augmented Bonding Curve
*This is an output. Learn more about the Reserve Ratio here.
Module 3: Tao Voting
Module 4: Conviction Voting
Module 1: Token Freeze and Token Thaw
Strategy:
In large part, our Hatch was based on the premise that Hatchers are commitment the long term, mission driven goals over short term individual gains. So I’m advocating for a longish thaw. One that will give the TEC a floor above the Hatch price for the entire first year. Kudos to The Fledge (#113) for the “hatch, fledge” analogy. Hatch, fledge, fly!
Did you know that from hatching to leaving the nest a bird can increase its weight by as much as 10 times?
With the freeze/thaw at 39/65, Hatchers tokens begin to thaw at 9 months and by the end of the first year, 20% of Hatchers tokens will be unfrozen.
We are not greedy. We envision a world where ethical and resilient economic systems benefit societies. We know it will take us time to make that happen and that having a secure floor for one full yer will provide needed security to take our next bold steps. This gives us a year to build our reputation, strategies and agility in whatever market conditions we face.
[reduced token thaw to from 65 to 52 weeks]
Hatcher's TEC Release Schedule
Token Release Timeline
Module 2: Augmented Bonding Curve (ABC)
Strategy:
The psychological impact of 1M in the Commons pool is no small trifle. That’s 1M allocated directly to funding proposals that serve our mission. With a must-have of 1M in the Commons pool, I looked to find the right balance between the Commons Tribute (sourced from existing Hatchers) and Entry/Exit Tribute (to be sourced from future TEC token holders).
Unless we are setting the entry/exit to near-zero we should expect that future TEC token holders are here for the impact to be made and a belief in what we are doing. Any non-zero tribute will be a deterrent to the average speculator.
I see the wisdom of #74 with having the entry/exit adjust over a scheduled amount of time and will propose the same. Entry: 16 - 12 - 8 - 4 and Exit: 5 - 6 - 7 - 8, with and adjustment happening every 6 weeks.
In the words of #74 “With this strategy, we should change the Tributes every month so that they gradually go from 22% and 2% to 2% and 12% in 5 months. This could be done every month by decreasing the Entry Tribute by 4% and increasing the Exit Tribute by 2%. This is important for our long term growth so that if the price is going down, more money is flowing into the Common Pool so that as a community we can provide more value to our token holders and the TE community.”
Here I nod again to #113 and appreciate very much their doubling down on the impact investment angle. In their words: “The 80% initial tribute makes us unabashedly an impact investment. Impact investors care about impact and don't want to pay to fund reserves to lower the volatility. Another effect of the low reserve is high slippage, which makes it expensive and thus unattractive for non-aligned, purely speculative whales to suddenly buy up large shares in ways that might harm the mission and the community. Impact investors will care less about slippage, since that money goes to the TEC, which they are backing for impact. Oh, did I mention it's a million dollar fund. Nice.
Yeah, 30% entry tribute is a big cut. But remember, we're an impact investment. We pitch that the 30% is an investment that they make in public goods and we take it off the top while they're still excited. There's no exit tribute. We get the investment up front, not when they're trying to get out and may have reasons for leaving anyway.”
[dropped CT to from 73 to 55 and the Entry and exits got dropped a lot-we don't want to disincentivize trading]
*This is an output. Learn more about the Reserve Ratio here.
TEC Price vs ABC Reserve Holdings
Example Transaction Data
ABC Overview
Module 3: Tao Voting
Strategy:
The defaults are well thought through and I’ll stick with them. For color, will add the phrasing of the #109 to chew on: “ Revolutions need to be agile as well. For this we should aim for high consensus, short-er duration.
Tao Voting might not interest everyone, but that's why we have delegates. It should be reasonable to expect high turnout for votes since voting power should either be used or delegated, not sitting idle, this is not how revolutions are made!"
Tao Voting Timeline From Proposal To Execution
Timeline Data
Module 4: Conviction Voting
Strategy:
There is a conversation about the TE Academy proposal that shapes my thinking here. Knowing their longer financial runway facilitates funding roles to execute their vision. So, for example, requesting a grant for 6 months out versus month-by-month would be the difference between only being able to assure someone’s role month-to-month versus offering a longer term assurance of compensation to a new hire. This is big for our bootstrapping projects!
Low spending limits act as a sort of check-and-balance on projects as they will need to prove continuous delivery by requesting small amounts periodically. There is a real advantage to that but I feel that makes it administratively difficult for larger, more ambitious projects like the TE Academy to depend on funding from us. And for the voters, it will exhaust our attention to have a constant stream of smaller proposals.
High spending limits here might pose a risk but as #124 points out, we have Celeste. We should be able to rely on Celeste to arbitrate anyone acting in bad faith. In the end, I believe it will better serve our goal of advancing Token Engineering than a low spending limit.
Finally, that any proposal will require > 24 hours to pass is a courtesy to the entire community.
[dropped SL from 20 to 10. Dropped CG from 14-10]
Minimum Percent of Voting Tokens Needed to Pass Funding Requests
Example Funding Request Data
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Parameter Definitions
Token Freeze and Token Thaw
Augmented Bonding Curve (ABC)
Tao Voting
Conviction Voting
Advanced Settings*
*Learn more about Advanced Settings on the TEC forum
FORK THIS PROPOSAL (link)
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