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B
B
B
Cool
and
thanks
for
that
that
extra
yes,
there,
okay,
so
let's
get
started
first
of
all,
welcome
everyone.
I
want
to
say:
let
everyone
know
that
everyone
who's
attending
will
receive
a
co-op
po-op,
which
is
super
cool.
B
Let
me
quickly
just
take
a
screenshot,
so
I
don't
forget,
and
then
I
want
to
ask
who
here
has
already
used
the
commons
configuration
dashboard?
Has
anyone
already
used
it?
Okay,
cool
and
eduardo
is
driving.
That's.
Why
he's
his
video's
off
and
he
may
not
answer
sometimes
too.
What
about
you?
Edgar
web3.
Have
you
had
a
look
at
the
dashboard
yet.
B
And
of
those
of
you
who've
used
the
dashboard.
Does
anyone
have
a
favorite
proposal
and
is
it
did
you
submit
a
proposal
or
do
you
have
a
favorite
proposal?
Okay,
cool
okay,
so
I
just
want
to
share
basically
what
we're
gonna
cover.
Maybe
speak.
First
about
the
overall
timeline.
There's
a
forum
post
with
the
overall
timeline.
B
B
This
dashboard
we're
going
to
continue
to
have
these
educational
sessions,
we're
going
to
continue
to
encourage
our
community
to
use
the
the
dashboard,
hey,
gene
and
submit
proposals
and
then
from
the
17th
to
the
21st
will
be
the
time
to
vote.
So
all
token
holders
will
vote
we'll
cast
their
vote
and
based
on
the
outcome
of
that
vote,
we
will
have
three
to
five
runoff
proposals
that
go
head
to
head
to
head
to,
maybe
head
to
maybe
head
for
the
runoff
vote
that
will
be
in
the
beginning
of
january.
B
B
Okay.
So
what
we're
going
to
do
today
is
walk
through
the
dashboard,
then
there'll
be
about
a
15-minute
break,
which
I'll
probably
play
some
music
on,
where
everyone
will
actually
take
their
hand
or
take
take
some
time
to
create
their
own
proposals
based
on
what
we've
just
talked
about
and
then,
if
anyone
feels
comfortable
presenting
their
proposals,
we
can
do
that.
If
not,
I
can
present
some
proposals.
B
Mitch
always
loves
to
present
some
proposals,
so
maybe
it'll
be
him
that
does
it
welcome
mitch
and
then
at
the
end,
yeah.
Well,
you
know
that
part
I
really
think
of
is
like
workshopping.
You
know
if
you
write
and
a
bunch
of
writers
get
together
and
instead
of
writing
instead
of
workshopping,
our
material
will
be
workshopping
our
proposals.
B
B
So
I
think
everyone
here
is
pretty
aware-
maybe
not
at
edgar
webb,
three
so
much
since
you're
relatively
new
to
our
community,
but
the
the
background
on
what
we're
doing
is
we
had
a
hatch
which
is
a
warm
token
offering
we,
we
say
it's
a
way
to
attract
balance,
attract
and
balance,
labor
expertise
and
capital,
so
attracting
people
who
want
to
put
in
effort
experts
who
have
some
specific,
targeted
skill
to
apply
and
then
a
way
to
raise
capital.
B
We've
assured
that
only
value
aligned
to
trusted
people
holds
tokens.
Those
are
the
people
that
are
called
the
token
seed
and
through
this
hatch
mechanism,
we've
raised,
1.5
million
wrapped
x
die
and
have
around
2
million
tokens
in
the
supply.
So
far,
now
it's
time
for
this
entire
community
of
pastures
and
tec
community
to
design
the
parameters
that
are
going
to
affect
this
economy,
that
we're
steering
the
entire
community
can
design
and
propose,
and
then
it's
the
hatchers
that
will
use
their
tokens
to
vote
on
the
final
proposal.
B
So
everyone
has
seen
these
visual
explainers
before
we're
really
at
this
process.
Now,
where
we're
submitting
and
voting
the
parameters
for
the
commons
upgrade
and
that's
where
we
are-
and
this
is
where
we
want
to
be
so.
These
are
the
three
modules
that
we're
configuring,
as
well
as
the
token
freeze
in
tokenpaw,
of
course,
so
some
sort
of
parameters
outside
of
these
modules
themselves.
B
Okay,
so
when
you
first
start
the
dashboard,
there
is
a
four
learning
modules
each
has
its
own
tutorial.
I'm
not
going
to
go
through
those
we're
going
to
jump
to
configuration
here,
but
if
you're
interested
in
learning
more
after
this
one
hour
session,
you
can
always
come
back
to
go
through
each
of
these
learning
modules.
B
There
is
some
sections
that
have
oh
here's,
the
tutorials
that
actually
have
someone
speaking.
I
think
it's
lauren,
who
will
read
out
to
the
parameters
and
description
descriptions,
but
we're
going
to
go
straight
to
the
configuration
now
so
just
orientation
on
the
dashboard.
B
B
B
So
definitely
wonka
has
submitted
proposals
because
I've
seen
him
advocate
for
some.
What
about
you,
you
say:
have
you
had
a
chance
to
submit
a
proposal
yet.
B
Okay,
so,
let's
start
with
the
token
freeze
and
thaw
this
is
pretty
straightforward.
B
The
token
price
that
hatchers
paid
was
equivalent
to
one
wrapped
x
die
for
one
tec
hatch
token,
then
the
this
opening
price
will
basically
set
the
price
that
will
the
augmented
bonding
curve
will
sell
the
token
for
so
the
augmented
bodine
curve
is
essentially,
I
will
get
to
that
in
the
next
one,
actually
in
the
augmented,
bonding
curve
section.
So
the
opening
price
is
just
what
people
will
pay
against
the
curve.
So
you
know
there's
a
few
things
here
right.
B
If
we
want
to
set
this
really
high
right,
so
the
opening
price
will
be
10
and
all
of
the
hatches
immediately,
you
know
10x
their
investment.
This
is
sort
of
a
way
for
the
hackers
to
set
our
own
time.
Preference
like
we're
declaring
what
our
time
preference
is
we're
saying
what
the
opening
price
should
be
and
how
long
the
tokens
that
we've
acquired
through
the
hatch
will
be
frozen
and
then
how
long
it'll
take
them
to
thaw.
B
So
I
don't
remember
what
the
defaults
are
on
this
I've
been
playing
with
it
a
little
bit,
but
you
can
say
that
I
think
the
price
should
open
at.
I
don't
know.
Let's
say
it's
three
wrapped
x
die,
the
tokens
should
be
frozen
for
two
weeks
and
then
all
the
tokens
start
to
thaw
out
and
the
thawing
process
should
be
another
10
weeks
and
what
you
would
end
up
with
is
essentially
at
three
months.
The
floor.
B
Price
of
the
tokens
is
zero,
and
this
is
not
so
great
for
all
of
us
because
yeah
it
sort
of
defeats
the
purpose
of
this
economy,
long-term,
sustainable
economy
that
we
want.
So
let's
say
we
do
something
more
like
26
weeks
and
the
thought
is
130
weeks
and
we
have
an
opening
price
of.
I
don't
know
125..
B
We
see
that
aft,
the
this
the
the
floor
price
of
the
token,
which
is
basically
the
collateral
underlying
the
entire
economy,
is
floors
after
160
weeks
so
close
to
160
weeks.
But
until
then
the
this
economy
is
supported
by
these
frozen
tokens
which
serve
as
the
collateral
for
the
economy.
B
So
we
could
play
around
with
this.
A
little
is
there
anything
else.
I
want
to
say
about
that:
oh
yeah,
I
guess
we'll
see
later
on
that.
No
sorry,
I'm
looking
at
my
notes,
because
I'm
doing
this
with
notes,
okay,
I
guess
this
is
good
for
now,
as
we
go
through
them,
we
can.
I
think
I
can
answer
some
more
questions,
but
is
there
anything
else?
I
want
to
say
that
I
think
is
important
here.
This
chart
down
here
shows
at
what
period
of
time
a
number
of
percentage
of
tokens
is
released.
B
So
if
we
move
on
to
the
next
one,
it's
the
augmented
bonding
curve,
a
bonding
curve
is
just
a
smart
contract
that
mints
tokens
when
you
send
money
to
it,
and
the
bonding
curves
are
generally
supported
by
the
underlying
collateral.
B
So
here
we
again
have
this
sort
of
opening
price
it
just
takes
whatever
the
price
is
from
your
last
section.
But
if
you
change
it
here,
I'm
assuming
it
should
change
everywhere
too,
so
you
can
play
around
with
the
price,
and
now
you
could
play
around
with
this
idea
of
what
we
do
with
the
initial
funds
that
we
raised.
So
how
much
we
want
to
allocate
to
the
common
tribute.
I
mean
sorry
how
much
we
want
to
no
hold
on.
B
No,
we
don't
do
that
here.
Yes,
we
do
the
commons
tribute.
So
the
commons
tribute
is
what
percentage
of
the
total
funds
we
want
to
put
in
the
common
pool,
and
that
also
determines
what
percentage
of
funds
we
want
to
be
the
collateral
for
the
curve,
which
is
called
the
reserve
ratio.
So
let's
say
we
want
there
to
be
a
small
amount
of
or
40
percent
of
what
we've
raised
to
go
to
the
common,
the
common
pool,
which
essentially
supports
projects.
B
So
that
is
what
conviction,
voting
will
use
to
fund
projects
and
to
fund
any
proposals
that
request
funding
and
then
the
reserve
ratio
that
will
be
left
over
is
here.
So
you
could
see
what
percentage
of
reserve
is
left
over?
What
percentage
of
the
reserve?
What
percentage
of
the
total
raise
is
in
the
reserve
ratio
and
then
how
much
that
equates
to?
B
B
Some
things
here
to
point
out
is
that
the
more
the
reserve
pool
you
could
look
at
as
kind
of
a
volatility
buffer,
and
you
can
sort
of
see
that,
as
you
play
around
here,
the
higher
the
commons
tribute
the
less
funds
that
actually
are
in
the
reserve
pool
to
the
service
balancing
scale
and
the
lower
the
reserve
pool
the
more
volatility
we
would
see.
You
can
sort
of
start
to
see
that
in
these
big
purchases-
okay-
so
maybe
I
should
say
what
this
is.
B
So
this
table
is
a
simulation
of
different
transactions,
so
there's
11
different
transactions.
This
is
the
first
one
which
is
the
initial
buy.
So
we
know
for
for
sure
that
the
proposal
to
for
the
dow
to
buy
250
k
of
its
own
tokens
at
the
instantiation
of
the
augmented
bonding
curve
has
passed.
B
So
this
is
going
to
be
the
very
first
buy,
so
we
can
see
that
once
the
bonding,
augmented
bonding
curve
launches-
and
this
buy
happens
basically
in
the
second
following
that
the
price
of
the
token
will
change
from
250
to
458
and
that's
a
23
27
slippage.
What
that
really
means
is,
I
think
it's
actually
spelled
out
really
nicely
here.
It's
the
difference
between
the
current
price
and
then
the
average
price.
B
This
is
because
there
is
not
a
lot
of
funding
for
the
reserve
pool.
We
could
see
these
numbers
start
to
dampen
as
we
lower.
Maybe
we
do
something
like
60
percent,
which
would
leave
40
percent
in
the
commons
pool,
and
you
know
these
big
swings.
So
this
is
a
simulation
of
one
million
dollars.
One
million
wrapped
x
die
buy
of
the
token,
which
would
of
course
have
a
huge
percentage,
change
or
slippage.
B
You
can
create
your
own
simulations.
If
you
wanted
to,
I
think
you
can
okay.
Well,
we
used
to
be
able
to
create
our
own.
Maybe
this
is
not
no
longer
a
functionality,
that's
working,
but
we
have
11
here
that
can
sort
of
give
us
a
good
idea
of
of
the
kind
of
impact
bis
which
are
green
and
cells
which
are
red
would
have
for
the
bonding
curve
at
these
prices
at
these
parameters
settings.
B
I
hope
that's
clear
enough.
Okay,
the
entry
and
exit
tribute
these
are
essentially
well.
This
is
the
a
an
augmented
bonding
curve.
This
is
what
makes
the
funds
that
are
that
come
from
buys
and
sells,
filter
in
to
the
commons
pool,
which
then
goes
to
to
to
have
more
funding
available
for
proposals.
B
So,
for
example,
if
you
were
to
buy
some,
if
the,
if
the
entry
tribute
was
thirty,
then
what
whatever
some
that
you
used
to
purchase
tokens
you
would
receive.
70
percent
of
that
and
30
would
go
immediately
into
the
commons
pool
and
that
tax
would
go
to
fund
new
projects.
B
The
same
thing
with
the
exit
tribute.
So
if
you
were
to
then
sell
your
tokens
back
to
the
curve,
you
would
receive
the
funding
minus
the
10
that
goes
back
into
the
commons
pool
to
fund
new
projects.
So
it's
a
way
for
there
to
be
continuous
funding
of
of
of
the
of
the
proposals.
B
It's
also
interesting
mechanism
that
sort
of
dampens
downward
pressure.
So
if
there
is
a
large
sell-off,
then
what
ends
up
happening
is
there's
the
tribute
keeps
filtering
into
the
commons
pool,
so
the
capital
in
the
commons
actually
gets
larger
and
larger
and
larger
and
then
much
more
interesting
to
govern,
which
would
then
imply
that
people
want
to
come
and
buy,
because
now
there's
this
large
pool
of
capital
to
to
govern
so
it
has.
B
It
has
some
interesting
properties,
and
I
think
that's
one
of
the
points
of
why
we
can
explore
this
today
is
to
sort
of
learn
those
trade-offs.
Okay,
is
there
anything
else?
I
want
to
say
about
this:
no
okay,
so
I'll
move
on
to
the
dow
voting.
Okay,
so
what's
important
here,
is
that
this
is
similar
to
our
hatchdow.
It's
just
a
dow,
and
these
are
the
votes
that
can
change
anything
about
the
dao.
So
one
of
the
use
cases
is,
for
example,
we
want
to
change
the
parameters
of
the
augmented
bonding
curve.
B
This
dow
is
how
we
would
do
that.
So
if
we
wanted
to
change
the
parameters
of
the
augmented
bonding
curve,
how
much
support
would
we
want
so
how
many
yes
versus?
No
would
we
want
there
to
be?
You
know,
would
51
percent
be
enough
if
51
of
the
community
voted
yes
and
49
voted?
No,
would
that
be
enough
to
change
the
parameters
of
the
bonding
curve,
or
do
we
want
something
more
more
more
strongly
signaled,
our
hashtag,
I
believe,
is
88
with
eight
percent
quorum.
B
The
quorum
is
essentially
how
much
what
percentage
of
the
token
holders
need
to
vote.
So
let's
say
we
have,
I
don't
know
hun.
You
know,
let's
say
make
them
keep
the
numbers
simple.
We
have
a
hundred
token
holders
or
tokens
what
percentage
of
that
needs
to
vote?
Yes
in
order
for
it
to
pass.
So
if
only
ten
percent
need
to
vote
for
it
to
pass,
and
it
would
be
10.
B
vote.
Duration
is
the
number
of
days,
so
these
are
pretty
standard.
What's
new
here
is
delegating
voted
period,
quiet,
ending
period
and
quiet
extension
period.
B
The
execution
delay
is
the
same
as
we
had
in
the
hatch
tribute
so
the
number
of
days
after
the
vote
passes
that
it
gets
executed,
and
this
is
there
normally
needs
to
be
some
amount
of
delay.
Just
in
order
to
prepare
for
whatever
kind
of
operation
will
then
be,
will
then
take
place,
since
it
is
usually,
I
mean
almost
certainly
and
going
to
involve
something
to
change
in
the
smart
contracts,
the
delegated
voting
period.
So
this
is
essentially
the
date
after
which
the
delegates
can
no
longer
vote.
B
So
new,
for
this
doubt,
is
the
ability
to
delegate
your
vote.
So
you
can
give
your
votes
to
somebody
else
to
vote
for
you
and
those
delegates
have
a
period
with
which
they
have
to
vote.
It
can
be
set
as
the
same
to
the
vote
duration.
B
It
can
be
set
as
less
than
the
vote
duration
and
then
you
just
see
here
in
this
chart
the
time
to
vote
on
proposals,
the
time
to
review
a
delegated
vote
and
then
the
time
between
the
proposal
and
the
passing
or
the
ability
to
execute
what
was
pat
what
was
passed.
B
So
I
guess
I'll
leave
these
at
the
same
and
okay,
so
quiet
ending
period
and
quiet
ending
extension.
These
are
new
too,
so
these
are
just
to
sort
of,
I
think,
to
like
to
catch
any
scenario
where
there's
a
vote
that
flips
very
suddenly
at
the
end.
So
if
there
is
a
yes
vote
and
it
suddenly
flips
to
a
no
vote,
then
there's
this
period.
This
number
of
days
that's
added
to
the
vote
and
if
that
happens
again,
then
there's
a
quiet,
ending
extension.
B
That's
automatically
added
to
the
vote,
and
I
imagine
it's
just
to
sort
of
create
some
time
in
case
there's
like
a
wild
community
swing
and
or
it's
maybe
one
person
who
suddenly
bought
a
bunch
of
tokens
and
is
trying
to
manipulate
the
vote.
B
So
this
is
how
we
decide
to
spend
money.
It's
conviction.
Voting
is
interesting
because
there
are
no
no
votes,
there's
just
the
amount
of
tokens
you
have
and
the
amount
of
time
you
spent
committed
to
a
particular
proposal.
So
everyone
has
a
certain
amount
of
tokens
and
they
can
allocate
a
certain
amount
of
tokens
to
different
proposals
or
they
can
allocate.
You
know
to
one
proposal
and
not
be
able
to
stake
conviction
any
of
the
others.
B
So
conviction
builds
up
slowly
and
sort
of
degrades
slowly
as
well.
You
could
imagine
like
a
faucet
dripping,
and
so
here
the
spending
limit
is
how
much
what
is
the
maximum
proposal
request
for
compared
to
what
is
in
the
commons
pool,
so
the
spending
limit
would
be.
How
much
may
I
request
as
a
percentage
of
what
exists
in
the
commons
pool.
So
if
there's
a
hundred
thousand
wrapped
ex
die
in
the
commons
pool
and
the
spending
limit
is
ten,
I
couldn't
request
more
than
ten
thousand
right
next
time.
B
So
the
question
here
is
a
balance
of
like
do
we
want
large?
Do
we
want
to
be
able
to
support
large
asks
or
large
funding
requests
or
a
lot
of
small
funding,
requests
the
minimum
conviction?
Oopsie?
Oh
that's
nice
that
it
took
us
right
there.
B
Oh,
so
you
can
also
click
on
those
and
yeah
I'll.
Take
you
right
there.
So
the
minimum
conviction
is
the
amount
of
tokens
needed
to
pass
a
request
for
an
infinitely
small
amount
of
funds.
B
So
if
we
play
with
this
a
little
bit,
the
curve
gets
really
really
wonky
and
we
can
sort
of
see
on
the
bottom
that
if
we
try
to
oops-
let's
just
say
three
days-
seven
days
so
after
seven
days
with
these,
with
a
ten
percent
limit
and
a
two
percent
conviction,
we
could
see
that
these
requested
amounts.
B
So
somebody
that
requests
one
thousand
five
thousand
or
twenty
five
thousand
with
the
commons
pool
having
one
hundred
thousand
or
seven
hundred
and
fifty
thousand
and
this
effective
supply
would
require
these
many
tokens
state
for
seven
days
in
order
to
pass.
So
that's
the
sort
of
that's
that's
a
balance
there.
B
So,
for
example,
somebody
if
there
was
750
k
in
the
common
pool,
a
25k
funding
request,
would
request
108
stakes
tokens
for
seven
days
and
then
it
would
pass
and
those
tokens
would
be
released
to
stake
other
proposals
or
to
back
other
proposals.
B
Okay,
so
the
best
way
to
use
this
is
to
start
playing
with
it,
and
we
are
about
half
of
the
hour.
Let's
see
where
we
can
I'll
bring
this
here
actually
and
if
we
go
into
the
github
repository
for
commons
config
proposals
and
also,
let
me
just
drop
that
in
the
communitas
channel
right
now,
so
everyone
can
jump
in
there
too.
B
Out,
I'm
just
seeing
your
message
now:
lbs.
Okay,
the
dashboard
is
this
tool
and
it
is
a
tool
that
we're
using
to
configure
the
commons
upgrade.
B
The
params
parties
is
just
the
thing
that
we're
calling
these
sessions
where
we
explain
this
dashboard
and
then
the
hatch
is
the
fund
raise
that
happened
over
the
summer.
That
was,
that
was
a
closed
fundraise
of
trusted
seed
members
only
does
that
explain
it.
B
Oh
great,
so
you'll
start
with
somebody
else's
parameters,
and
then
you
will
modify
them
to
what
you
think
might
be
more
strategic.
Maybe
you
saw
this
parameter
and
you
really
liked
the
token
threes
and
the
froze
freeze
and
thaw,
but
you
thought
the
opening
price
should
be
higher
and
you
thought
that
the
commons
tribute
at
95
was
a
little
too
high,
so
you
thought
80
would
would
create
more
stability
for
the
bonding
curve
and
then
you
would
like
you
thought.
B
Okay,
the
entry
and
exit
tributes
are
low
and
I
like
them
being
low
because
that
will
incentivize
more
people
to
come
in
and
out
versus
high
tributes
which
might
disincentivize
people
to
come
in
and
out
of
the
token,
so
I
think
we're
gonna
set
aside
15
minutes
for
everyone
to
take
a
proposal
from
the
config
and
then
play
around
with
it
for
for
15
minutes
and
then
in
15
minutes
from
now
the
time
my
timer
will
go
off
and
we
will
either
share
our
proposal
or
somebody
can
present
one
at
the
end.
B
A
Hey
tam
yeah,
I
I
have
one
so
just
one
question:
if
this
is
too
big
of
a
question
just
feel
free
to,
but
you
know,
one
of
the
things
I've
struggled
with
a
little
bit
is
trying
to
figure
out
what
the
future
source
of
demand
for
the
tbc
token
will
actually
be
like,
because
I
was
trying
to
figure
out
like
how
quickly
the
community
will
actually
be.
You
know
how
much
how
quickly
there
will
be.
B
B
I
mean
I
can
share
some
initial
knee
jerk
what
I
I
can
share
some
initial
thinking
that
I've
had
around
it
and
then
I'd
invite
a
few
other
people
to
as
well.
You
know
it's
really
like
what
is
the
value
proposition
of
the
token
right.
There
is
there's
a
value
proposition
to
early
investors
which
might
be
hey.
I
really
want
to
support
this
and
I
have
a
little
speculative
bent.
B
You
know
like
I,
there
there's
two
things:
there's
there's
the
just
the
support
for
token
engineering,
so
right
so
there's
there's
not
like
speculative,
but
also
really
deep
in
public
goods
and
wants
to
see
this
succeed
and
would
love
to
see
the
benefit.
At
the
end,
there
is
people
who
just
want
to
see
token
engineering
succeed
right
who
it
might
be.
B
B
A
A
B
All
right,
so
I'm
going
to
just
check
in
on
a
few
of
you
that
I
can't
see
so
edgar
webb
three.
How
are
you
feeling
about
opening
a
fork
and
playing
around
with
a
configuration.
B
Do
it
definitely
do
it
cool
and
lbs?
How
are
you
feeling
about
opening
a
fork
and
playing
around
with
the
parameters
for
a
few
minutes?
10
minutes.
A
I
would
say
that
you
could
like
that:
it's
free,
you
can
just
go
around
and
click
all
the
buttons
and,
like
you,
won't,
really
break
anything
important.
So
it's
like
it's
there
just
to
play
around
with
and
like,
depending
on
your
your
knowledge
level.
Some
things
might
click,
and
some
things
might
not,
and
whatever
happens,
is
totally
fine.
A
B
B
Just
in
time,
so
communitas
weekly
is
hijacked
by
a
params
party,
so
we
just
did
a
walkthrough
of
the
commons
configuration
dashboard
and
are
now
taking
some
time
to
submit
proposals.
B
So
we
have
about
nine
minutes
left
and
then
we'll
spend
some
time.
Maybe
talking
about
one
or
two
or
even
three.
If
we
speak
fast,
have
you
have
you?
What's
your
experience
with
the
dashboard
so
far
digress.
A
B
Well,
you're
super
welcome
to
hang
out
and
and
listen.
B
A
A
B
B
A
Yeah,
I
I
like
it
really
low,
but
if
you
do
it
really
low,
you
have
to
make
sure
the
conviction.
Growth
is
really
long,
just
to
make
sure
that
you're
not
spammed
by
a
lot
of
small
proposals
that
can
take
away
a
lot
of
funds
from
the
comments.
So
it's
just
there
is
a
protection
there.