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From YouTube: W6 Legal Wg: Work session on hatch document!
Description
Timecodes:
00:00 - Intentions and distractions
04:03 - Santi explain the dynamic of the session
06:26 - Working on TEC HAch Terms
53:43 - Closing round
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A
My
intention
today
is
to,
as
I
told
you,
dive
into
the
document,
the
argon
jury
document,
to
use
it
as
a
baseline
for
our
terms
document.
We
can
review
that
and
and
extract
whatever
information.
We
think
that
we
can
use
on
our
own
terms
for
the
hatching
phase.
Remember
that
the
terms
for
the
association
already
written
and
finished
hopefully-
and
I
can
share
them
with
you
if
you
want
to
and
instructions,
I
have
no
distractions
today,
so
I'm
ready
to
dive
in
I'll.
A
C
D
I
don't
know
why
it
doesn't
matter
what
he
says.
I
just
laugh
constantly
anyway,
yeah
I'm
excited
for
a
work
session.
This
is
really
good.
My
intentions
aren't
a
hack
on
this
hash
document
santy,
and
I
are
battling
over
this
like
opportunity
to
build
this
document.
So
you
know
it
looks
like
he's
winning
anyway
and
then
distractions.
I
don't
think
I
have
any
distractions
other
than
I
can't
access
the
the
edit
link
for
the
hatch
terms
is
not
its
only
view
only
and
I
will
pass
it
to
zeptimus.
E
F
I
haven't
really
changed
anything,
so
I
don't
know
thumbs
up.
You
hear
me,
okay
right,
so
my
intention
is
to
listen
to
see
where
we
are
at.
I
haven't
really
had
the
time
to
check
in
this
week
so
far,
so
I'm
probably
just
going
to
be
listening
a
lot
and
then
providing
my
comments
at
the
end
and
no
distractions
whatsoever.
I
had
all
distractions
on
wednesday,
so
I'll
put
it
successfully,
but
my
camera
is
now.
G
Yeah
yeah
intentions
just
learn
mostly
and
yeah,
see
I
will
be
paying
close
attention
to
the
things
that
might
be
limiting
for
us
in
the
future.
So,
but
before
doing
that,
I
have
to
understand
a
little
bit
so
yeah,
mostly
listen
and
distractions
yeah.
If
my
internet
blows
up,
that
is
not
also
distracting,
but
also
annoying,
but
I
hope
it
doesn't
so
yeah
pass
it
to
send.
A
Great
thank
you
grief.
I
changed
that
link.
Can
you
please
share
your
screen
because
I'm
always
having
issues
with
sharing
my
screen.
Can
you
share
your
screen
with
the
agenda
document
and
all
the
links
are
there?
I
switched
the
link,
so
hopefully
the
one
that
points
to
the
draft
document
is
is
opening
now,
so
as
you
as
the
ones
that
have
been
on
coming
to
the
meetings
now
and
for
the
new
ones.
A
Basically,
what
we
are
we
have
been
doing
here
is
discussing
lately
on
the
latest
meetings,
the
terms
of
the
association
of
becoming
a
member
of
the
association
of
the
commons
stack
association.
You
all
know
that
every
one
of
us
who
is
on
the
hatching
phase
will
have
to
be
a
member
of
the
association
and
that
that
was
what
we'll
be
discussing
the
other
day.
The
terms
are
on.
I
think
there
is
a
link
on
the
agenda
that
points
to
the
document.
On
the
terms
I
uploaded
it
to
my
google
drive
so.
A
A
A
So
if
can
you
just
scroll
down
that
document,
although
all
the
way
to
oh
hold
on?
Are
you
okay,
yeah?
Those
are
the
risks
and
warranties.
I
I
was
trying
to
put
everything
a
little
bit
nicer,
but
I
didn't
have
time
to
finish
so:
let's,
let's
start
with
the
first
one,
and
we
can
review
them
all
together
and
maybe
stop
after.
D
A
D
D
D
A
A
D
D
A
Well,
that
mechanism,
where
it
that
mechanism
where
it
is
basically
they
have
on
the
initial
articles
of
the
document
they
describe
the
mechanism
as
the
way
they
refer
to
github
as
the
way
aragorn
jury
works.
I
don't
know
if
we're
going
to
have
a
document
explaining
how
our
bonding
curve
and
our
are.
If
we
do,
we
can
understand
that
mechanism
as
our
instruction
guide
or
our
description
or
how
how
the
document
that
we
will
have,
which
explains
how
the
augmented
bonding
curve
plus
dial
works,
the.
D
The
I
think
the
important
thing
that
we
have
to
remember
is
that
for
the
hatch
down
there
is
no
bonding
curve
so
and
the
the
truth
is
that
we
there's
no
guarantee
that
there
will
ever
be
a
bonding
curve.
If
the
people
in
the
that
that
come
into
the
tc
don't
vote
to
upgrade
to
a
bonding
curve,
then
there
will
never
be
a
bonding
curve.
There
will
only
be
this
dow
that
people
put
money
into
so
for
the
hatch
terms,
at
least
we
should
scrub
everything
about
a
bombing
curve.
D
D
D
D
D
D
D
If,
if,
if
someone
is
putting
money
into
the
tec
and
they're
getting
tokens
back
in
return
for
that
for
those
funds
and
in
the
end
they
actually
lose
a
percentage
of
their
funds,
they
get
diluted
by
issuance
of
other
tokens,
so
maybe
they
put
in
100
die
raptex
die
and
they
get
100
tokens
back,
but
tvc
hatch
tokens,
but
then
free
tec,
hash
tokens
are
minted,
so
their
tec
hash
tokens
only
have
power
over
eighty
percent.
Of
that,
let's
say
80
x
die.
F
I
kind
of
agree
I
mean
if
we
are
going
to
be
using
the
word
deposit
that
brings
financial
obligations
possibly,
and
the
word
staking
implies
that
we
are
staking
our
assets,
which
the
way
you
describe
it,
it's
probably
better
to
use
the
word
staking
yeah.
I
I
would
avoid
the
word
deposit
just
for
the
financial
reasons.
F
Well,
the
way
you
actually
explained
it
now
I
mean,
if
I'm
providing
some
funds
to
this
association
to
the
organization
and
I'm
getting
like
a
membership.
The
exchange,
even
though
there's
a
certain
percentage
that
goes
into
the
reserve
fund,
I'm
actually
becoming,
or
this
might
be
perceived
as
a
membership
fee,.
D
A
Who
may
nbc
tokens
after
the
hatching?
They
will
be
well,
no,
they
they
will
be
buying
against
the
bond
they.
They
won't
have
to
split
yeah,
but
they
will
also
have
the
split
between
the
funding
reserve
and
the
bonding
curve
reserve,
and
they
won't
be
signing
these
terms.
They
may
sign
some
other
terms,
but
not
these
specific
ones,
because
they
won't
be
members
of
the
association
of
the
common
stock
association.
They
will
just
be
anyone
who
wants
to
buy
the
token
and
join
the
dow.
C
A
D
D
C
A
A
The
t
is
t
because
there
is
no
legal
entity
behind
the
dc,
so
it
would
have
to
be
every
single
one
of
us
who
wanted
to
assure
their
assets
and
do
it
on
their
own.
You
know
responsibility
not
on
behalf
of
the
tec,
because
there
is
no
way
that
ec
can
sign
any
contract,
because
there
is
no
entity
behind
it.
C
D
D
A
D
D
D
A
D
F
D
D
So
people
put
money
in
they
get
tec
tokens
in
return.
Once
we
hit
the
minimum
cap,
then
if
we
don't
hit
the
minimum
cap
at
the
end
of
the
time
period,
then
they
all
get
their
die
back
percent.
If
they
do.
If
we
do
hit
the
minimum
cap,
then
tec
is
minted
for
impact
hours.
People
this.
There
is
an
optional
thing
where
some
funding
may
go
to
the
funding
pool
and
be
taken
is
not
possible
to
be
refunded
and
it's
like
a
forced.
D
D
A
C
H
C
C
C
D
D
Proposals
that
you
wouldn't
have
expected
would
pass
now
with
conviction.
Voting
we
make
that
very
difficult,
but
with
dandelion
voting
that
could
be
possible.
Now
it's
not
possible
for
us,
because
we
have
non-transferable
tokens.
There
will
be
no
giant
pool
of
tokens
that
people
people
could
borrow
against
and
the
token
will
not
have
flash
loans
integrated,
because
there
are
tokens
that
token
contracts
that
straight
up
say
yeah.
Anyone
can
loan
against
this,
and
this
dow
will
receive
a
percentage
of
interest
like
it's
crazy.
D
D
Yeah-
and
I
think
it's
fair-
I
think
it's
fair
to
have
okay,
so
one
other
thing
here
is
the
anj
was
made
on
ethereum
and
xdi
is
a
is
more
right.
Now
it's
a
proof
of
authority
chain,
but
it
will
upgrade
to
this
very
different
consensus
mechanism,
eventually
called
like
honey,
badger,
byzantine
fault,
tolerance,
honey,
badger
protocol,
or
something
like
that.
I
can't
remember
what
they
call
it.
So
I'm
just
going
to
say
other
consensus,
attacks.
D
D
D
Yeah
I
mean
you
know
this
is
a
little
bit
existential
or
whatever,
maybe
exaggeration,
but
technically
the
dow.
The
a
bonding
curve
dow,
is
always
in
debt
right
like
they
have
the
market
cap
illusion.
So
your
bonding
curve
down
might
have
a
market
cap
of
500k
and
it
looks
like
there's.
You
know
different
people
that
hold
five
hundred
thousand
dollars
worth
of.
You
know
your
token,
but
you
only
have
let's
say
a
hundred
thousand
dollar
bonding
curve.
B
But
I
mean
in
a
practical
sense,
like
let's
say
there
is
500
500
die
in
the
funding
poll
and
then
one
proposal
request
300
and
another
proposal
requests
300.
So
they
are
both
technically
under
the
value
that
is
available
by
the
time
of
submitting.
But
what,
if
they
both
pass,
then
how
would
the
contract
react
if
there
is
like
a
hundred
die
missing.
A
Due
to
conviction
voting,
the
threshold
mechanism
wouldn't
allow
it
would,
it
would
make
it
very
difficult
to
to
pass,
because
it
will
consider
the
amount
of
money
left
on
the
on
the
on
the
funding
pool
and
the
amount
of
money
that
both
proposals
were
requiring
and
it
would.
It
would
adjust
the
thresholds
on
a
way
that
it
would
make
it
very
very
hard.
D
Exactly
in
in
the
ethereum
blockchain,
every
transaction
happens
one
at
a
time
and
it
updates
the
state,
the
global
state.
So
if
that
first,
if
it
was
even
possible
for
the
300
die
transaction
to
go
through,
which
I
don't
think
it
will
be
because
I
think
that
we'll
have
a
there's
one
parameter.
That's
like
what
is
the
most
money
that
can
be
dished
out
by
this
dow
at
one
time
and
that
will
likely
be
less
than
50.
D
I
I
can't
imagine
we
would
pick
a
parameter
more
than
50
for
that,
so,
as
in
you
could
only
ever
spend
you
know,
40
percent
of
the
pool
in
one
trans
in
one
proposal.
But
anyway,
let's
say
that
we
have
these
two
proposals
that
are
each
300
and
500
diam
when
the
first
they
can't
pass
at
the
same
time.
So
when
the
first
proposal
passes
that
changes,
the
requirements
of
the
funding
pool
to
pass
the
second
one
and
it
would
say
nope
this
other
one-
can't
pass.
F
D
D
D
D
A
D
D
D
F
D
A
A
D
D
D
D
A
F
A
D
D
G
G
D
D
I
I
D
D
D
A
A
We're
calling
to
the
hour-
and
as
you
see,
this
is
a
a
long
document
that
we
just
started
hacking
today
and
so
I'd
love.
If
anyone
doing
first
of
all,
we're
not
gonna
have
another
meeting
until
the
first
week
of
january
next
week
is
christmas
friday.
Next
friday
is
christmas
day
and
the
other
friday
is
new
year's
day,
so
we
won't
meet
until
the
other
week
on
on
january,
the
8th.
D
D
H
D
A
D
C
F
E
H
H
I
mean
the
main
thing
is
that
this
is
an
agreement
between
each
and
every
member
and
the
basic
rules
that
we
basically
agree
to
abide
by
the
by
the
codified
by-laws
and
the
transaction
logic
as
implemented
on
the
blockchain.
The
details
of
that
can
be
described
in
specific
terms
of
service
attached
to
each
token.
A
D
No,
I
mean
I
I
think
lawrence
is
saying
we
need
to
actually
talk
about
the
real
meat
which
is
like
oh
impact
hours.
People
are
going
to
get
these
funds.
You
know
they're
going
to
get
free
tokens.
While,
if
you
put
money
in
you,
don't
you
know
you're?
Actually,
your
collateral
is
being
held
by
those
guys.
You
know
there.
There
is
no.
You
know
we're
gonna
have
to
vote,
and
you
know
the
dandelion
dow
will
have
involvements
there's.
We
have
managed
expectations.
D
A
D
A
Well,
I
thank
you
all
for
joining.
I
think
I'm
the
last
one.
I
thank
you
all
for
joining
and
I
wish
you
a
great
christmas
and
great
days
off
those
who
are
going
to
be
taking
him
and
I
hope
to
see
you
back
next
year
with
some
more
strength
to
work
on
these
legal
documents
and
get
them
done.
Thank
you
all
for
joining.