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SAKEVOTERSAKEVOTERby0x199c1a8A643FC543F6983a941F221BEBe358959e0x199c…959e

C-SIP-02 Should we proceed with the following Moonbase proposal?

Voting ended over 5 years agoFailed

Should we allocate 5M Sake (subject to price targets and 1yr vesting) from the community treasury towards a Moonbase rover as part of our marketing efforts to bring Sake to Wandallah once again?

After much community discussion, we've decided that the best way to align incentives between the Sake and Based community was to have price targets in addition to the standard 1 year vesting schedule.

How would this work? 5M Sake will be deposited into a rover contract. At certain price thresholds, the maximum amount of vested sake that can be sold by the rover increases. But if these price thresholds are never hit the Sake would essentially be locked in the rover forever. Only 500k of the Sake would not be subject to any price targets. So based on our proposed price release schedule, if the price of Sake never passes $0.10 then the remaining 4.5M sake can never be sold. If the price only reaches $1.00, then up to 1.5M Sake can be sold if the 1yr vesting timeframe has passed. If Sake hits $1.00 one month since rover deployment only 1.5M/12 or 125K Sake can be sold.

Basically, before any Sake can be sold by the rover, it must first check the price of Sake to see what the max sellable amount of Sake is according to the price release schedule + vesting schedule.

For simplicity, we can just use the current price of Sake from the SAKE/USDT pool. Ideally we would use a 7 day price avg for the price threshold, however if doing so requires introducing too much smart contract complexity we are okay using just the current price of Sake as the price threshold.

The link below contains the price threshold vesting schedule: https://cdn.discordapp.com/attachments/750958406747160707/765981327404433458/image0.png

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Timeline

Oct 14, 2020Proposal created
Oct 14, 2020Proposal vote started
Oct 15, 2020Proposal vote ended
Jan 23, 2024Proposal updated