CIP 1: To upgrade ConvO subscription process (ConvO 2.0) on Moonbeam Network

Abstract

To improve the current ConvO process with

• “Deposit to Apply” lottery ticket subscription model
• Anytime KYC application as long as user is not a citizen or resident of any of the restricted locations
• Additional premium tiers with varying allocation size

Motivation

Based on the ongoing community feedback from our previous private token sales, we experienced oversubscription in the whitelist application but ended with unfilled token subscription

• To prevent wastage, we would like to propose a redesign of the subscription model with “Deposit to Apply” with an upfront commitment.
• To streamline the subscription process with less time constrained events, we would like to open KYC application for all users so that users can submit KYC anytime and have a longer window for users to deposit funds to purchase the subscription lottery tickets to avoid gas wars.
• To reward large-amount stakers and incentivize users to increase their CONV or CONV-related LP tokens staking for a bigger subscription allocation and a higher lottery winning probability with higher premium tiers.

Voting Instructions

• Vote FOR to indicate your support for the upgrade of ConvO 2.0
• Vote AGAINST to indicate your discouragement for the upgrade of ConvO 2.0
• Vote ABSTAIN to indicate the proposal's motivation is good but the specification needs to be refined

Specification

Network: Moonbeam

Product Area: ConvO (“Convergence Offering”) via Convergence | CONVO

User Flow:

1. Prior to subscription application: Users can submit for KYC anytime as the user is not a citizen or resident of any of the restricted locations
2. New private sale announced: Convergence Team will share the subscription timeline, tier requirements and corresponding allocation size for each pool tier (maximum number of lottery tickets that can be deposited)
   1. There will be additional premium pool tiers apart from the current 2 tier model
3. Application open: All public and premium pool applicants would have to be KYC verified before they can deposit to apply via ConvO according to their pool tier
   1. Public pool users would need to also fulfil social media requirements
   2. Premium pool users would check their corresponding premium tier based on their past CONV staking activities
4. Deposit to apply: All eligible users will be purchasing the lottery ticket in the multiplier of a fixed unit according to their pool tier that is pre-announced prior to the application open
   1. For example, each lottery ticket represents 50 USDC worth of token allocation, public pool user is able to apply for a maximum of 2 tickets so users are applying by depositing 50/100 USDC for 1/2 lottery tickets
   2. A longer deposit window will be introduced to minimize gas wars and is more time-zone friendly for Convergers around the globe
5. Application close: Convergence Team will facilitate the lottery and use a waterfall filling if there is any unfilled allocation starting from the highest premium tier flowing into the lower premium/public tiers and eventually the liquidity pool for all users' access (i.e. Tier 4 > Tier 3 > Tier 2 > Tier 1 > Public > Tier 4 > Liquidity)
6. Subscription result: Once the lottery and allocation are completed, users will be able to check their deposited lottery ticket results via ConvO
7. Swap pool open: Before the allocation claiming, the swap pool of the private sale token will go live so all users can start trading if they fail to participate in the subscription or their deposited lottery tickets are not selected
8. Claim allocation and/or refund: Users will then be able to claim their successful allocation (tokens) if their lottery tickets are selected or claim the refund for unselected lottery tickets