Proposed by Luca De Giglio, Founder.

We have discussed the opportunity to have a dedicated new Governance token for the Booking DAO experiment and the majority is against issuing a new token based on a >> Discord vote <<

Unfortunately the Aragon DAO software does not allow the use of an existing token like Trips.

When creating the DAO, a new token is issued. As a result the option to simply use Trips is off the table.

The options are:

A) Wrapper app to transform Trips in WTrips used just for voting in the DAO.

I find this cumbersome and hard to understand, especially for people who are new to this world, which are the ones we are trying to bring in the project. This would probably scare many away.

B) A new governance token which can be swapped 1:1 with Trips. We'd need to implement a swap app for this.

C) A new governance token which can be swapped 1:1 with Trips on Honeyswap. The exchange rate with Trips tokens is allowed to fluctuate,

allowing the market to signal.

I am thus making a proposal now and will launch it on Snapshot for existing mainnet Trips holders to vote on. Others with different proposals can do the same. The proposal with most votes will win.

MY PROPOSAL

Considering that:

• the majority of the Community prefers to use Trips.
• the wrapped token is confusing.
• the main issues are: simplicity (one extra token introduces complexity) and price (one extra token is not good for the price of Trips)

I propose a trade-off which should be good enough to start:

• A new governance token which we can call SWS (from Smart Working Spaces) with an initial issuance of 100,000 which gives me (Luca) initially 100% control of the DAO. This is necessary to operate the first actions.
• 100,000 more will be minted and added to a new SWS-TRIPS pool on Honeyswap, with 100,000 SWS and 100,000 Trips.
• Every time someone buys a subscription they receive newly minted 10 SWS.

The following scenarios may emerge:

• Trips whales can buy SWS with their Trips, so their governance power in SWS will cost them an effort and, at least temporarily, some Trips (they can change them back at any time). This avoids the case for Trips whales casually voting on important issues without interest.
• New members can sell their 100 SWS for Trips. In that case the price of Trips in that pool goes up.
• New members can buy Trips with xDAI on Honeyswap to get more SWS and thus more influence on the platform.

Discuss in Discord:

• New? Access with Invite >>
• Already have access? Go to conversation >>

DO YOU AGREE WITH A NEW GOVERNANCE TOKEN WHICH CAN BE SWAPPED 1:1 WITH TRIPS TOKENS ON HONEYSWAP?