Meeting minutes of LongDAO founding members

Date: Feb 11 2020
Venue:Zoom
Key minutes:
1. The aligned vision of LongDAO
2. The running mechanism and financial running mechanism of LongDAO

  • the native token of LongDAO (LDT) will issued through double bonding curve
  • all the revenue into LDT will inject into the LDT buy curve and all the projects and proposals within LongDAO will be driven with LDT

3. How to start without bonding curve auditing ready

  • Allocation of existing budget
  • Manually compute the token conversion in curve

4. Experiment of labor force exchange collaboration

  • code auditing between ASResearch and dOrg

5. The arrangement of subDAOs, MediaDAO and 区块松DAO

Next step action point:

  1. Pin down the double bonding curve parameters: Ruby
  2. Line up dOrg and ASResearch for auditing: Daniel & Ruby
  3. Launch the 区块松DAO on Alchemy: Daniel and Bob
  4. Prepare a proper process instruction and guidance to raise a proposal and apply for budget: Daniel&Jessie

Reference:

https://shimo.im/docs/KKvhjv3RqXrcqp9w

Here is the indicative parameters for the double bonding curve design, key idea:

  1. linear function for buy and sell curve
  2. fixed % between buy and sell curve

Feel free to raise questions or cmts :slight_smile:

Great work Ruby, some feedback I want to share, consideration that would be great is:

Can we work with ETH as collateral rather than fiat stablecoin?

The reasons I think it’s better is because this is still experiment stages:

  • Risk: LongDAO being an early stage experiment can allow exposure to volatility risk.
  • collateralizing with a volatile asset will essentially make LDT a volatile asset and thus more relevant down the line as an investible asset. (Is there a way to collateralise LDT with a stable asset and still make LDT volatile?)

We can keep the revenue of LongDAO in ETH to make it simple. That is a decision to make We4.

Exciting times!!

Hi Ruby,

great result, thanks a lot for your hard working!
I have 2 comments here:

  1. typo for the title - should be LDT instead of LTD
  2. seems we have 2 choices for the curve design here, so which one could be more beneficial for community (I mean for the later comer).

I would choose one for attracting more members.

Thanks for the feedback:

  1. Typo revised
  2. Can u pls further explain the 2 choices? actually only provided one set of parameters in the current design, one for the buy curve and one for the sell curve. The difference between the 2 curve is currently set as 25% which is a parameter could be governed by all the community in the future

The current design is choosing a curve that is linear by with slope of 0.1 which is not steep, and the consideration in choosing a comparatively flat curve is to lower the barrier for the community to join in the long run

Thanks for feedback, choosing ETH mean the community need to bear additional risk from the movement of ETH. Personally I’m ok with it, only if we are fine with all the revenue inflow is converted into ETH as well. Otherwise, it will increase huge cost in the value management and cross token operation for LongDAO.