Ecosystem funds are already unlocked actually, we use them to secure the network by staking (we are currently in the process of working with our community-elected validator delegation council to redelegate these funds to validators that run IBC relayers), make partnerships, and provide liquidity on other chains. For example, a recent use of these was in the launching of the Olympus pro bonds and to secure initial liquidity on Sushi Swap.
This is how I responded to the same question in the Discord:
"I wouldn’t worry much about this. Currently we see about 2M ROWAN distributed per day as part of Sif’s expansion. [liquidity mining]
The token unlock that will unlock ~325M ROWAN into the hands of investors, distributed over a period of 12 months. That ends up being about 27M ROWAN per month hitting the market, which is less than are currently being rewarded on a monthly basis as per recent numbers given to us by mccallofthewild.
We can also make the following assumptions:
the team will not dump and the funds will be used efficiently to improve the protocol
there will be more effective ways to leverage that capital within Sifchain than to sell the tokens outright (including staking, LPing, margin-trading) "
Let me know if you have any other questions about this – I will be happy to have our founder Jazear pop in for a moment too if you’d like any more specific information.
Yup, so we currently have most of our governance activity in our Discord, where we also post threads. So, hop in there and I can further guide you (link is above).
For larger decisions (such as the recipients of 300% apr pools), we do an on-chain memo-driven vote. The reason we have a memo driven vote rather than use the Cosmos SDK built in governance module is because it only allows for binary results: yes, no, no with veto, abstain), but does not account for non-binary results (such as selecting tokens).
We recently launched a UI for this on the dex, you can check it out now on the DEX, and here is a screenshot.
Like I said, we have smaller votes, which we monitor closely, on the discord.
Here are some recent proposal documents (from the discord #DAO-Proposals channel):
Thanks for your questions, they are all good ones. And if you have any more questions, we will be happy to answer them.
If the community deems it appropriate (and we would love more feedback), please let us know the next steps regarding the beginnings of our partnership.
i think it would be a good idea to do a live stream of some sort with a host thats pretty switched on.
maybe you could go over a few things in detail and then answer a few questions.
im sure there are a few content creators that would be happy to host that sort of thing.
How about on the Frax end, what should be happening to make sure the event has good attendance and important questions are answered? Anything you need from us in that regard?
As for the event itself:
is there anybody specific whose schedule we need to work around?
do you have any specific hosts/moderators in mind?
Further, what are the next steps if all goes well with the livestream and questions are answered in a satisfying manner?
a live stream is not really needed , but if you are doing a AMA then that may be the way to do it, but i also see people doing discord calls or twitter space stuff.
based onthe last few votes … you might want to talk to CVX, as they have a lot of voting power now.
the next steps are.
the proposal must be in the discussion thread for 5 days before it can go up for a vote. so in a few days you can make a formal vote.
I will go speak to the CVX community, see their feedback, and then we will work on hosting an event where all questions can be answered before putting it to a vote.
I’ve reached out to a couple of youtube channels that I think would be good platforms for a live AMA, including Justin Bram (https://www.youtube.com/channel/UCM7ppuKNvT47DfbYEZv2eZA), who previously did an AMA with Sam. If I don’t hear back from anyone within a couple of days – then we are considering bringing the proposal to a vote in the interest of time. Would there be any opposition to that here?
