[GIP 23] Redeployment GoodDollar Ethereum Reserve

Governance Proposals
23

Just wondering, why would anyone vote against getting the system up and running again?

6 Likes
24

Existing contributors aren’t happy with Exit contribution 10%.

2 Likes
25

I don’t get that argument. Seems weird to vote against getting it up and running again on such a detail. If this does not get restarted the whole Gooddollar system is down the drain. All your Gooddollars and GOOD will be worthless.

4 Likes
26

Just a reminder. The whole system is not for personal gain. It’s about getting UBI out there for people in need. The world needs it badly. Change your vote please to FOR.

5 Likes
27

I voted FOR. But I think this is a voting so let people share their thought. BTW the voting mechanism is too belongs people who have much GOODs token instead of the number of people voted FOR. I also suggested a voting mechanism to balance this in this topic: [GIP-19] New GoodDAO Voting System - Governance Proposals - GoodDollar

5 Likes
28

@Gpalomino
The 10% exit contribution is to prevent a run on the reserve to sell.
In the future if the price and the reserve locked value will grow you could raise a proposal to lower it again.
This is in the best interest of the project for now.

6 Likes
29

Absolutely, but now it seems the proposal is blocked by one whale holding a lot of GOOD (and probably also holding a lot of G$ ready to sell) just because of this 10% safeguard. This is high-jacking the project.
Is it an idea to restart the project from scratch with a new version of G$? Let’s say version 2, so that all current G$ becomes worthless. That way we can get rid of this kind of whales abusing the system to somehow get rich from it. Which is the total opposite of what Gooddollar is aiming for.

4 Likes
30

The proposal has failed unfortunately largely due to one whale. This whale is not out there to support the GoodDollar project, but only looking after his own interest. And there are a few more large holders only looking after their own interest at the cost of the project. So that makes me think it’s even more important to prevent a drain on the new GoodReserve.

In the new proposal I think it would be important to increase the exit contribution to 15% or 20% or maybe even more. To stop these whales from draining the reserve and killing the project that way.
Maybe it could include that the percentage goes down each year with 1% or something like that.

Another thought would be this. Is it possible to set a maximum exit amount in the contracts. So that any given user can only exit a maximum of 10000 G$ per month or so. Something like that. An amount that would be enough for the average user, but that would stop whales from draining.

5 Likes
31

100% agree! The fact that the proposal has been blocked in this way only encourages the exit rate to be even higher. I think it should be 20%; before it was 5%, now 10% is not much, but it seems necessary that it be 20%

5 Likes
32

Now that we have to wait for a new redeployment proposal I’d like to pose some questions about the safety.

  1. The contracts have been audited for security, but software keeps developing and safety holes might appear. Is there a regular audit foreseen somehow to keep things safe?

  2. Would it be possible to spread the risk by having multiple reserves?
    So that if one is compromised we still have the others.

  3. Is it possible to cap the withdrawal from the reserve per day so that it can not be drained more than an x amount?

  4. Would it be an idea to keep part of the reserves offline somehow in the form of some old-fashioned regular fund or something?
    And than regularly transfer the interest to give out as G$ ubi

Just wondering

6 Likes
33

I am very extremely interested for this proposal of Good dollars

3 Likes
34

Good points, thanks for your mentioned points

3 Likes
35

New proposal regarding this topic: [GIP-24] GoodDollar V4 - Celo Reserve and Protocol Enhancements

1 Like
36

true say… I like people with great ideas but with possibilities too

4 Likes
37

Why are the claim rewards so low for Fuse and CELO coins? How can I or we help increase our claim rate?

4 Likes
38

Please someone should help me out I don’t really know how to use gooddollar Please

1 Like
39

Hi there, kindly proceed to our support channel for prompt assistance: Telegram: Join Group Chat

1 Like