[GIP-5] Allocating part of UBI inflation towards G$ "savings" account

we want to add it also in the wallet yes.
it is a matter of developer bandwidth

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I have seen and experienced in another experimental App, a chat included in a very interesting and effective tab to help claimants with their first steps and also refer to the networks, what do you think?

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can you send the relevant link? i’m not sure this is relevant for this topic though

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Hey All
The code passed an initial audit.
Here’s the pull request

There’s a 300K G$ bounty for any bug you can find.
We hope to vote and release it in the by end of August and hopefully have a couple of AMAs by then.

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excellent, a short time ago I discovered an error in my wallet that unbalances my real balance.
Where should I send this report?

you can open an issue on github.com/GoodDollar/GoodDAPP

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hey @sirpy very nice to see developments are moving forward.

Since this is going to be the first GoodDAO onchain vote (after the snapshot vote is approved, ofc, as prescribed in GIP-0), could you please share the proper instructions and guidelines so people can vote with their GOOD?

Inculcating a savings culture is necessary to combat the current horrible debt based system.

I don’t know if it’s time to open Pandora’s box or if it’s the right topic to talk about one aspect of the governance token. According to the Gooddollar White Paper, GOOD “is a non-transferable token and therefore has no market value. The goal here is to prevent the wealthiest in the community from gaining most of the power. Since GOOD is will distribute both to those who make claims on the system and those who invest capital to keep it running, the hope is that all interests will be reflected in the governance of the protocol.”
We are talking about rewards in gs but we are not talking, from my point of view, about the overwhelming share of power that we are providing to some wallets to monopolize GOOD in an excessive way, to the point of contributing 50% of the voting shares in some GIP.
Aspects such as the quorum or limiting the monopolization of power could be issues that we value so that in future votes we do not discourage the participation of all.

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@sirpy What’s the status of this GIP? Are we waiting for the wallet dev, or can we proceed with a vote now/soon?

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Gooddollar team retain the majority of GOOD for the time being so there is some security there regarding votes for the benefit of the protocol. There’s always a debate in any community of “profit or protocol”, which is one of the reasons why the Governance committee has been created, to stop bad actors.

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We have the contracts audited and we actually want to activate it as part of a greater “v3” proposal

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Can you elaborate on your concerns?
GOOD tokens are constantly minted, 50% always go to the claimers, and 25% to people that stake G$.
So any power someone has he needs to constantly increase his stake in the protocol to keep his power.
We need to work more on the delegation aspect so communities can join their voting power.

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Great, when do you think v3 proposal will be published?

Exact! We agree. We talk about power and the distribution system includes it in its equation. That is my concern because I don’t see power as more necessary than participation. Aspects such as the quorum or the limitation of the share of power make the voting of the DAO more democratic and participatory.
We can see how many GOOD there are in each wallet and therefore know if the distribution is proportional so as not to discourage what I consider most important: Participation.

I understand, but the goal according to the Gooddollar white paper is “…to prevent the wealthiest in the community from getting most of the power…” Even if it’s for the safety of the protocol, it would not be followed.
In the last vote, just several minutes ago, only one wallet contributed 6 times the quorum of the GIP-2 - so we can think that the possibility that a “dark hand” can, without any problem, win a vote (not I think that wallet is).
Let’s not be afraid to participate equally unless out of that fear we “facilitate” future possibilities to degrade the project by a voting system with excessive power quotas.

Yes there was an initial distribution that gave some early participator high percentage of the voting power, mostly eToro, the GoodDollar LLC, team members etc. You can see the distribution and re-read on how GOOD tokens are distributed in the medium article.
With time since GOOD tokens are always minted their power will or will not be diluted based on their participation.
50% of the GOOD is always with the claimers, so it is more about the community joining together via delegation to leaders or to a common pool to accumulate significant voting power.
As always anyone can suggest new ways and rules to distribute GOOD, we’d love to see more involvement from the community

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It would be a good idea to add a time lock option (for example) if you bet 8 months you win 8 percent if you bet 6 months you win 7 percent and having the non-blocking option gains 2 to 4 percent dynamic apy

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Hi everybody! This proposal with the “savings” feature has been added to the V3 proposal, go check it: [GIP-11] GoodDollar V3 - Protocol Enhancements

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It was published yesterday :slight_smile: you can check it and comment here:

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