LikeCoin Governance Proposal | #40, #41, #42 Proposal Voting Decision

I will briefly explain the motion, put forward my own ideas, and finally clearly state my voting decision. If you have entrusted likecoin to me, but do not agree with my decision, you can leave a message and tell me your thoughts, or you can vote by yourself. You can ask me about the voting method, or you can read Daisy's teaching article. Appreciate the citizens of the Republic of Citizens AKA All Likers can now directly vote for governance proposals! . If you really strongly deny me, you can also drag the transfer to other verifiers.

If the content is unclear, you can ask me. It is also encouraged to look at the related works, the way of the likecoin governance proposal, and the thinking of liquid democracy.

#40 Community Pool Usage Proposal: Multi-Signature Wallet with 2,000,000 LIKEs to Tech Subdao

Proposal : Community-pool-spend Proposal: deposit 2,000,000 LIKE to Tech Subdao multisig wallet

Introduction:

 Following proposal 36, kin ko (Desmos profile @ckxpress, https://ckxpress.com) has formed a Tech Subdao with Dr Simon Chan (@simonc, https://www.linkedin.com/in/simonmhchan/) and Greg Sung (@gsgsgsgs, https://www.linkedin.com/in/gregsung/), and created a 2-of-3 multisig wallet cosmos1ujnwswmyfeq6ygt63k8zudl0xrlff8mvlumaum. By voting YES to this a proposal, you agree to send 2,000,000 LIKE to the Tech Subdao multisig wallet as the initial tranche of fund allocated to technical development of LikeCoin.

According to Proposal #36, kin ko (Desmos profile @ckxpress, https://ckxpress.com) has established Tech Subdao, and also established a 2-of-3 multi-signature wallet with the address cosmos1ujnwswmyfeq6ygt63k8zudl0xrlff8mvlumaum. Members include Dr Simon Chan (@simonc, https://www.linkedin.com/in/simonmhchan/) and Greg Sung (@gsgsgsgs, https://www.linkedin.com/in/gregsung/).

It is proposed to transfer 2,000,000 LIKE from the community pool to the above wallet, which is the first budget applied for the development of LikeCoin technology.

intention:

Compared with the more than one million LIKEs applied for in the last proposal #33, the number of LIKEs applied for this time is a little more, but it still accounts for less than 0.1% of the existing community pool. OurSky and Tech Subdao have recently launched a lot of work, in addition to presenting the situation at regular community meetings, and also posting work records here . I feel that after OurSky, depub.space joined, the development energy is much more than before. Therefore, I think there is no problem with the relevant budget, and I will agree to the motion.

Decision : Yes

#41 Modify parameters: Change InflationReateChange from 25% to 100%

Proposal : [Parameter Change] Change InflationRateChange from 25% to 100%

Introduction:

 Inflation_rate_change which is now 25%. when the LP incentive is much higher than staking rewards, it now takes too long for the inflation rate to change to reflect the lowered delegation ratio, it may drive staking away from securing the chain. we should speed up the inflation_rate_change to make it much more responsive than it is

Inflation_rate_change is currently set at 25%. When the reward of the liquidity pool is much higher than the delegation reward, the inflation rate will respond too slowly due to its setting, which will cause a large number of delegations to be transferred to the liquidity pool and affect the security of the chain. It is proposed to increase Inflation_rate_change to increase the responsiveness of the inflation rate.

intention:

Let's first introduce what Inflation_rate_change is. If you want to know more, you can try @Daisy's article LikeCoin chain's destiny: the ignored BigDipper setting page , or leave a message.

Inflation_rate_change is one of the settings on the chain, and its role is to determine the speed at which the inflation rate changes when the number of delegations on the chain exceeds/reaches a predetermined safe value, that is, the overall delegation rate is less than (or greater than) 67%. It is currently 25%. In the past, the commission of the chain has been very high, more than 67%, and the inflation has been maintained at the minimum value of 7%. Now, because the Osmosis liquidity pool is listed, and because of the lack of a large number of delegations from the community pool, the overall delegation rate is less than 67%. According to the mechanism on the chain, inflation will start to increase, so that the delegation rewards will increase to attract people. return. However, inflation will not increase all at once, and the rate of increase will be determined according to the setting of Inflation_rate_change. The specific formula is

 Annual increase in inflation rate = ( 1 - delegated ratio / predetermined security ratio) * Inflation_rate_change 

Based on the current commission ratio of 51%, ( 1 - 51% / 67% ) * 25% is about 6%. In the past, the annual inflation rate only increased by 6%, from 7% to 13%. However, the rewards of the liquidity pool have exceeded 100% for a period of time, which is much higher than the commission rewards. Although before the community provided Osmosis external rewards, it dropped to less than delegated. However, observing the whole process, it is obvious that the rate of change in inflation is too slow and should be increased to make it possible to deal with the decrease in delegation faster next time.

Cosmos Hub has actually encountered this problem, they have also discussed it, and Inflation_rate_change has already been adjusted to 100%, https://forum.cosmos.network/t/paramater-change-proposal-inflation-rate-change/4834 . In fact, I don’t know if it is enough to change to 100%, but it will definitely speed up the reaction of the inflation rate on the chain, and it will be improved when encountering similar problems.

Decision : Yes

#42 Proposal for Community Pool Use: Deposit 1,000,000 LIKEs to the Marketing Subdao Multi-Signed Wallet

Proposal : Community-spend proposal: deposit 1,000,000 LIKE to Marketing Subdao multi-sig wallet

Introduction:

 With the passing of Proposal 38, marketing subdao is formed by Phoebe (Phoebe#4357, Liker land team) and Cheung To (tocheung#3755, https://www.youtube.com/channel/UC-tHPfxMbXkM099YxK8pjmw) and created a 2 -of-2 multisig wallet cosmos19qxpdaq4j08a2pra3llvt00faahmjxxnkrsusa. By voting YES to this proposal, you agree to send 1,000,000 LIKE to the Marketing Subdao multisig wallet as the initial fund allocated to the marketing development of LikeCoin.

According to Motion #38, Marking Subdao has been established with members Phoebe (Phoebe#4357, Liker land team) and Cheung To (tocheung#3755, https://www.youtube.com/channel/UC-tHPfxMbXkM099YxK8pjmw ), also new Add a 2-of-2 multi-signature wallet to cosmos19qxpdaq4j08a2pra3llvt00faahmjxxnkrsusa. It is proposed to deposit 1,000,000 LIKEs in the above wallets as funds for Marketing Subdao's promotional work.

intention:

The amount applied for this motion is also not much, less than motions #33 and #40. At present, the promotion work is mainly on Twitter. I hope that after having the funds, I can have the resources to do more work. The Markeing Subdao will also report on the work at the community meeting and will also be recorded in the Bi-weekly LikeCoin Update . Agree to support this motion.

Decision : Yes

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