Thx for the bump. We just launched GIVpower but its too early to see if it has had an impact yet. Itâs effectively the veCRV model but for donation mining instead of liquidity mining.
I think making projects stake GTC to participate is an option⌠I have been thinking about this in Giveth as a way to prove people are using a real wallet address and making it small but Giveth doesnât have enough demand to make that work, Gitcoinâs rounds do.
Also, just converting matching pools slowly to GTC could be an optionâŚ
But again all of these are tokenomicsâŚ
The more obvious thing is eventually charging round partners in GTC for services, and finding other revenue models that work, and forcing people to use GTC for them.
I am not a fan of the burn mechanism⌠its good for memes but in the long run, the DAO is burning thru the GTC it has, the goal should be to send all revenue to the DAO and eventually live within itâs means⌠as in:
GTC in = GTC out
With a whole bunch of GTC acting as a pool of resources.
I do think there are major opportunities to bake tokenomics in to the protocol in various ways⌠and hopefully Giveth and Gitcoin can work together in building these options⌠cause that is what we spend a lot of time thinking about
One nuance to me is that we may op market buy GTC with the goal of putting back into the hands of those who care about public goods (either contributors, rewards to good actors, etc.).
This removes some from open markets, but continues to center our economy on GTC.
The recent SEC complaint against Eisenberg should be in everyoneâs mind. GTC as is was distributed in a way and is used in a way that does not violate securities law (imo). If Gitcoin DAO starts directly engaging in various forms of outright manipulation such as buy backs, that is a different storyâŚ
For reference, and I very much encourage all to read this throughâŚ
*edit - I just want to be clear that the DAO purchasing GTC on the open market so the tokens can be reallocated to others that are active in the community isnât the same as a burn mechanism, and is a good idea worthy of being entertained
Not sure what LO means. I am only trying to keep GitcoinDAO from clearly violating securities law through poorly thought through incentives. Any mechanism in which the DAO is buying the token to burn it is not only against Gitcoinâs stated mission, but likely will make GTC a security. Sorry.
As for a solution, if the platform and brand is valuable (which I believe it is), then governance will be valuable in and of itself. Focus on the platform and the protocols coming out. Not ponzinomics.
My reason to hold GTC , is because I couldnât afford to buy ETH , instead of accumulating GTC . It relatively more trustful than most of other projects out there .
