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Convergence DAOConvergence DAOby0x505FB4560914eA9c3af22b75ca55c3881472ae450x505F…ae45

CGP #1 - Postpone, and launch on top of Stake DAO

Voting ended over 2 years agoSucceeded

Quorum: 3.8M CVG

--- Summary ---

Postpone the launch of Convergence, and launch atop Stake DAO instead of Tokemak. Tokemak will be aggregated later, once their v2 will be functioning.

This vote is following this announcement: https://medium.com/cvgfinance/convergences-first-community-vote-b2dd5ce46d2d

--- Rational ---

As mentionned on Discord and Medium, Tokemak will transition from v1 to v2. Upcoming changes may result in the Tokemak v1 aggregation becoming irrelevant soon after launch.

To address this issue, we propose to delay the launch of the protocol, in order to build on Stake DAO first. Launching an optimized layer atop Stake DAO directly at launch would be the most powerful way to kick start our journey:

  • Direct integration in Curve eco with an extra efficient model to target multiple protocols and offer some of the best APRs in town;
  • Less cost to maintain stablepool liquidity and more incentives power;
  • Kicking a much more powerful flywheel effect right at launch, and reinforce treasury’s voting power and influence.

As a compensation for postponing launch, each WL and IBO NFT will receive a 5% boost on its CVG balance. Details TBA.

--- Means ---

  • Finishing the code for Stake DAO’s aggregation (95%);
  • Testing the code logic;
  • Audit and peer reviews;
  • Revamp the frontend and test it.

We estimate that the all process will take a month and a half.

--- Vote ---

1- delay and launch atop Stake DAO 2- launch atop Tokemak as planned

One CVG on a presale NFT (preseed/seed/WL/IBO) is equal to one vote.

Off-Chain Vote

Delay and launch atop Stake DAO
6.97M CVG99.9%
Launch atop Tokemak as planned
3.5K CVG0.1%
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Timeline

Oct 04, 2023Proposal created
Oct 04, 2023Proposal vote started
Oct 06, 2023Proposal vote ended
Oct 26, 2023Proposal updated