LikeCoin Governance Proposal | #36, #37, #38 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.

#36 Authorize @ckxpress to set up a Technology (Tech) DAO @高 reconstruction

Proposal : Signalling proposal: endorse @ckxpress to form Tech Subdao

Introduction:

This motion is intended to ask the community's intention to authorize ckxpress ( Desmos Profile ) to organize a technical team (Tech DAO) of 3 to 5 people?

This Tech Subdao team is responsible for:

1. Plan LikeCoin's technical/development needs, including: protocols, chains, tools, and dApps.
2. Find developers, vendors and businesses willing to work with.
3. Manage the relationship with the above partners/organizations, and also be responsible for handling the payment!
4. monthly report to the community

This bill will not ask for any budget, the bill will propose a separate bill for community consent.

For previous related discussions, check out the Discord thread .

Intention :

The establishment of a dedicated working team in the form of a small group (DAO) will help promote the now open (and loose) community to move forward faster, and it is led by the founder Mr. Gao. I believe most people in the community will agree.

This proposal has nothing to do with the use of the community pool, and there is no need to analyze whether the request for funds is reasonable or valid. However, it was also mentioned in the discussion on Discord that too much funds will not be used all at once, and the specific situation will be analyzed at a later time.

Decision : Yes

#37 Community Pool Usage Proposal: Provide External Rewards for LikeCoin Liquidity Pools in Osmosis

Proposal : Community pool spend proposal: Pool incentives on Osmosis

Introduction:

This is a proposal to use the community pool, requesting the allocation of 15,000,000 LIKE to provide external rewards for the two LikeCoin-related liquidity pools on the Osmosis platform, ATOM/LIKE and OSMO/LIKE. The main purpose is to attract new LikeCoin holders.

If this resolution is passed, the relevant LikeCoin will be distributed directly to the wallet held by the Liker Land team at the address: cosmos1fr62zx24gapdul0gze8lt3y9fmtt7h6mjv5w6c. And the team will assist in the follow-up work.

The incentive program runs for 90 days and is distributed as follows:

• ATOM/LIKE pool, 83,333.33 LIKE distributed per day
• OSMO/LIKE pool, 83,333.33 LIKE distributed per day

Thanks to every enthusiast who provides liquidity to LikeCoin!

The ipfs address of the motion content

Intention :

This proposal was originally discussed in Discord, and there are multiple options. I personally support the options proposed in the current proposal. Friends who are interested in other choices can go and have a look and discuss.

In the Osmosis platform, each liquidity pool has three sources of rewards: 1. Token exchange fees; 2. Platform rewards; 3. External rewards. LikeCoin's liquidity pool is missing point 3, external rewards. But this was not the main reason why I decided to agree to support the provision of external incentives. I personally did not support the use of community pool funds to provide external rewards earlier. Because I don't think "free" airdrops will bring many benefits to people outside the community. After that, the platform reward of the LikeCoin liquidity pool has been declining. There was still 20% APR at the time of discussion, but now it is 10% APR, which is less than the delegation. Compared with the liquidity pools of other projects, it is basically equivalent to no rewards. But looking at the size of the pool, there is not much change. If it is analyzed in terms of personal short-term interests, it is impossible to stay in the liquidity pool of LikeCoin. Not only does it earn less money, but it also needs to directly bear the risk of currency fluctuations. It is very clear that those who are still in the LikeCoin liquidity pool have a certain degree of love for LikeCoin. Therefore, I agreed to provide external rewards as a way to thank the people in the pool.

In fact, this option was the lowest when it was proposed, and the expected APR at that time was only 90%. Although it does not seem to be low here, at that time, DSM and STAR were both over a thousand APRs. 90% seems a little stingy. Super high APR seems to attract people, but I personally think that too much is actually to attract short-term hype. High APR also means that the community should allocate more public funds to people outside the community. In fact, even for the highest option, the APR is only 450%. At that time, when many pools had thousands of APRs, I didn’t think that after paying most of the public funds, it would make LikeCoin look so special and outstanding. Although it is only 90% APR, I believe that LikeCoin enthusiasts who think that even 10% of the platform reward is no problem, should not think that we are stingy (right?).

In addition, part of the function of the community pool is to maintain the security of the chain, so that the flow of LIKE can be less than 34% to maintain the security of the PoS-based chain. In the past, the number of delegations was greater than 67%, but in order to further decentralize community governance, the community delegation originally managed by individuals was released and transferred to the community pool, resulting in a decrease in the total number of delegations. But now, because only one-third of the original community fund is entrusted, the entrustment volume is still lower than before. But now the total amount of delegation plus the number in the community pool exceeds the security target by 67%, which is not a big problem (although the community is now continuing to earn a lot less rewards). But once a large amount of community funds are distributed as rewards, the LikeCoin in the market will exceed 34%. Is it necessarily bad? I have no way to make an absolute judgment, but the current mechanism is to let less than 34% of the coins in the market flow. As long as you choose to distribute too much community funds, based on the current design of this mechanism, we will change from "maintainable" to "Cannot maintain". If I were given a choice, I would oppose investing a lot of community funds and choose to "maintain" the security of the chain. However, the number of this motion is small, and there will be no such problems.

Decision : Yes

#38 Established a technology promotion (marketing) DAO @高建建

Proposal : Signalling proposal: endorse a marketing subdao

Introduction:

In order to further promote marketing work together with Irtysh Digital, it is recommended to set up a Marketing DAO to be responsible for the following tasks:

• Help LikeCoin determine the direction and needs of market promotion, and promote related work at the same time
• Responsible for integrating relevant resources and service providers
• Manage pre-approved promotional funds to: support promotional activities or vendors (will be requested by another motion)

At the same time, in this proposal, the community is proposed to authorize Phoebe#4357 (Liker land team member) and Cheung To (@udomaincheungto, early supporter of LikeCoin, Youtuber, founder of UDomain) as members of the marketing subdao.

Related discussions can be found in the records in Disocrd .

Intention :

The idea for this motion is similar to #36, agreeing to the intentional group to allow the community to move faster, and to allow the current public funds to have more ways to use. In terms of candidates, Phoebe is a member of the Liker land team, no problem. And Cheung To, I later found out that he is the channel owner of YT channel's financial secret war . I myself have learned a lot from his films. With his participation, there must be many benefits to LikeCoin and stronger support.

Decision : Yes

I'm John Shao, thank you for being here. If you want to know more about me and want to support me, please see this article !