As someone slightly out of the loop, am I right in assuming that currently the protocol does not support vesting? So an update would be required in advance of any proposal that includes vesting?
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I think the point of @alive was to get more community participation, specially from early adopters.
Hence the proposed 100comp, which is enough COMP to start a CAP. They can lock the token from being able to be transferred of it for 5yers for all I care.
Hey it would be great but are there COMP currently available for such a instant distribution?
It could be a solution as you say also to grant all the allocation instantly to give the voting power to early users immediately but add a vesting to it, it would permit to get the voting power without waiting the slow emission of comp I proposed
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Semi off topic reply- I think the main result of enacting this proposal would be an increased comp price. That might seem counterintuitive, but Iād wager that a much lower percentage of these earned tokens would be sold than the percentage of liquidity mined tokens that are sold. Effectively taking coins out of circulation. Doubly so with vesting. And itās great PR for Compound.
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I canāt agree with you more.
but when will see the proposal is a big problem
soundless and stirless
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So what is this ?
One of the funding vc members create a poll about this juice āretro rewards for early usersā and than suddenly they are going into silent. Why ? And Why is in Discord so ignored ?
- why is this post also been encouraged by the founding fathers of compound on twitter ?
I found this very strangeā¦ it looks like manipulation of the desire of the community for a retro active reward.
We should investigate the timeline of this post, the tweet, the raising funding round (recently) of this new compound chain
I doubt itās anything nefarious like that, folks are quite busy. But it is interesting wrt to that specific timeline. Hopefully Compound keeps up with the good standards of the industry to reward those who contributed time and capital towards the protocols early success. To not do so would beā¦ disappointing. I mean the new Compund chain might not have even happened had earlier contributors not provided the initial momentum. Remember the days when TVL was only calculated using single millions.
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Just another post yesterday about supporting retro active rewards. a16z support this idea and believes in it. This vc firm hold a large position in compound.
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Following up with users in here who believe they arenāt being heard.
I check up on this thread once a week. Most of the comments are about getting COMP. Many include shots at the team and large holders. While I understand where you are coming from with those points, you arenāt doing yourself any favors.
I would suggest coming up with a thought out plan of how many COMP should be given out, who should be getting the COMP, why it is a good idea to give out that COMP. If someone analyzes Compound V1 and its users, I think that would get a good amount of attention.
I have personally spent time figuring out how much gas has been spent interacting with Compound V2 and specifically who spent it and when as part of a proposal I am thinking for gas-reimbursements. I think governance is more accepting than many of you give it credit for. However, it does require someone to take the initiative and build a robust proposal and be prepared to defend it.
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Hi,
Iām a newbie to this forum and the way I understand the situation is that for early adopters of COMP to receive a retrospective airdrop is organise to get 100 COMP to present this proposal for voting.
Is there a mechanism in the Defi world where you could āborrowā a 100 COMP for a day (or two) and present the original proposal for voting? Alternatively, can early adopters act on mass and buy COMP and delegate their votes to an entity to present the proposal for voting?
Is this a feasible idea?
Yes and yes. I think weāre currently in a situation where weāre lacking someone doing proper analysis and possibly the competence to create the proposal. Iām not so sure mustering the COMP is the problem.
Weāve got broad ideas (100 COMP), but I also think that for this to really hit home we might need vesting, which is waiting in the wings with other progress being made on the protocol.
It seems to me to be an odd situation. The major holders are in favour of the proposal. Itās also interesting that the instigator of this thread/proposal could easily make the proposal to be voted on; but they choose not to advance any proposal, in any form (vesting schedules etc).
In addition, I donāt understand why some comments refer to ācodingā being a prerequisite for any proposal being voted on (are we talking plain English here?). Any coding requires would be an on-cost to be absorbed by the community.
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Finally, we believe that token distribution models that reward bonafide early users and contributors are likely to create more engaged communities, and therefore more sustainable protocols. These are the types of users and developers who add value before a protocol achieves real network effects, or even has much inherent utility. Examples include the early users and liquidity providers on Uniswap and the early developers who built applications on top of Compound. We believe that these are the types of users who are likely to be the best long-term stewards of the protocol. While any token distribution model must take into account regulatory considerations, we generally believe that efforts to reward these types of early adopters are likely to position a protocol for long-term success, and we look to support them wherever possible.
Protocols that achieve meaningful decentralization are more likely to gain long-term adoption and sustainability than those that do not. While the potential design space of governance is massive, we remain guided by this basic principle, and support initiatives that we feel embody it. Weāve provided a few such examples here, and look forward to helping identify and develop others that may emerge over time."
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In fact we are seeing an āarmyā of early users calling for action !
So what to do now ?
The best might be to call these who handle the protocol the best : @rleshner @blck , @alive (etcā¦) and ask them these questions :
What do you think should be proposed as an allocation toward early users now ? What do you think should be the next step?
Would you vote in favor of that or not ?
The still emerging community of early adopters which was not strengthened throught an initial allocation may still need some guidance, support and bootstrap from founders or some major protocol governance participants.
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I agree with this proposal. Anyhow, is it possible to delegate comp ?
I have said in the early days when this idea came up that i would be fine even with higher percentage to be rewarded to the users, but there are technical questions that has to be solved to make this work,
as some people expect why nobody press the ādistribute 5% to early users buttonā this is not how it works, there are some issues like there is not enough COMP āreadyā to do a 5% distribution at this time, then how it should be distributed? streamed/vested over 1 year till there is enough available.
these are all things that has to be developed to be able distribute to thousands of users.
N
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and the biggest question why nobody made a list of users yet ?
demanding is easy
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also some discussion should be about minimal usage of the protocol to be rewarded to avoid reward spam accounts
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for us non technical people how does one generate that. i wouldnāt mind learning.
I think I have read some thing on discord about that,I found @grasponcrypto and @wario talking about a tool that already exist and said āit seems like it would also be easy enough to add a simple check for users to see if theyād be eligible for the discussed airdropā, these guys might know how to
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Well, that discussion was about a tool @wario created which was rather neat. You can find that here: https://mariorz.github.io/compcharts/
However, that tool is not exactly what you are looking for here. It could likely be forked or modified to perform the duties youāre wanting for a non-formal vista as to what the result set may look like. Further, the community would first need to decide some rules on what constitutes valid early users. For example, uniswap picked a snapshot date where it dropped to all users before said date, thus guaranteeing they were not airdropping to accounts who only participated in order to farm. Iād recommend we start there at the very least, which means we discount any accounts which had no activity before June 8, 2020 as stated by OP.
From there its further discussion. The goal is to get participation from a larger crowd and thus benefit early users who cannot afford comp but are key to the community. One thing i fear is that by discounting accounts that contributed little, weād be discounting the very people this idea came to support. Any user that contributed, no matter how much or how little, did so with much risk and rather little to no reward. Most of the time tx fees chewing into any profit which may or may not have been made. Thats just my 2 cents.
Until the ārulesā are discussed and decided, no tool can help because the tool has no way to know what to look for.
Edit: for full disclosure I was interacting with comp since at least 2019. Im no whale however and was dealing with amounts around 100.00 of what was then dai and is now sai
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