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Governance Events: Stablecoin and Launchpad Allocations
Greetings Singularitarians,
Some time ago we promised you a vote regarding the choice of Stablecoin to be used within the SingularityDAO Platform. Now, the time has come to hold that vote, why stop at one vote though?
There has also been a lot of discussion over how to assign launchpad allocations so it seems only right that we also put that to a vote. Below we will take some time to lay out each vote, what it entails and how it will be handled.
Do not consider the following as “set in stone” — we will consider community feedback from beginning to end. Hopefully however, the terms will be agreeable and understandable to all.
Stablecoins — Thursday 9th December
First up, a vote to consider which stablecoin will be used within the SingularityDAO Platform.
There will be a few caveats to this one, which I will lay out now. On Monday December 6th we will release a blog detailing the pros and cons of each coin. Between now and then our admins will be listening to your feedback.
  1. 1.
    If voted to change current liquidity pools to a new stablecoin, this would cost everyone currently yield farming multiple transaction fees. Therefore it will only affect newly created liquidity pools going forwards.
  2. 2.
    DynaSets require vast amounts of liquidity and will be required to trade using all stablecoins. It is an unavoidable fact that there will be times that the most profitable swap we are able to make, will be using USDT. We will however preference the winner of the vote wherever possible.
  3. 3.
    The list of coins to vote on will likely be the following:
  • USDT
  • USDC
  • DAI
  • UST
  • BUSD
We understand that this isn’t necessarily what people will want to hear, however we hope you will all understand that the very nature of DynaSets and maximising returns, means we must use whichever pools are required to fulfil the swap order at the best possible price. DynaSets need to have access to all stablecoins in order to achieve the best Alpha.
Launchpad Allocations
It is no secret that First Come First Serve is not the perfect allocation mechanism, but what is?
To answer this question we have decided to ask you, the community, to offer proposals and then vote on how we should handle our future launchpad allocations. We do have some ideas of our own and will also be including them in the voting. Depending on the number of proposals we have, it is possible we will hold multiple rounds of elimination votes to determine which scheme gets implemented.
We will be accepting proposals all through December, then in January we will either hold a single vote, or begin the first round of elimination votes.
Please note that one word proposals will be considered but will be grouped together into similar more well defined proposals. This will be done to save on the number of choices when it comes time to vote.
To stay up to date on all of this, please join our social channels.
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