Overview

🟣 Polygon vs 🔵 BASE. Which Ethereum (EVM) L2 Blockchain to use?

This proposal will dictate future direction for our entire DAO Ecosystem. Our main project focus in 2024-Q1 is launching ♻️ #GigsGoGreen - a movement for Gig Workers. We have begun having conversations about launching @4ChristDAO which should amplify ♻️ #GigsGoGreen through faith based organizations and channels.

[LiveStream] ♻️ #GigsGoGreen | Member NFTs using Unlock-Protocol … Polygon vs Base | Fri 3-3:30p MST 16Feb2024

Our Core TEAM had a Zoom / LiveStream conversation about this topic. Watch the replay on YouTube ⇒ https://www.youtube.com/watch?v=EyD1SpIsaZc

Participants

• Yonks.eth (Jason Younker) – Chief Digital Alchemist
• MrsYonks.eth (Tyler Younker) – CEO
• IamLotus (AmyMarcella.eth) – Global Market Strategiest
• econtriver.eth (Nik Cimino) – CTO

History of Building on Polygon

The Core TEAM has a history of building on Polygon since 2021-Q3 and only recently began seriously contemplating making the shift to Base. This is something that has been considered since the SEC case involving Polygon (and other allegedly unlawful tokens) was announced in Jun-2023 (see Reference section).

Disclosures

Voting members on this proposal may own interests in either $MATIC &/or $COIN.

Impact to DAO / Co-op Members

None. Since we are still in Pre-launch we can make this change without any noticeable impact.

Members Expected Blockchain Interactions

Thought that it would be worthwhile to capture our expected DAO / co-op members blockchain interactions. This of course can change over time.

1. New Member Onboarding & Annual Renewals
   • Phase 1 = Kickstarter
   • Phase 2 = WordPress site <IE: Tesla.Black / SolarEV.coop / Web3CLT.org> + WooCommerce using credit card transactions
   • Phase 3 = USDC via Unlock-Protocol at 1yr renewal
2. pToken Digital Assets
   • pToken = blockchain property token
3. Member / Network Services
   • #TeslaBlack Drivers = $200/wk
   • #SolarEV Network EV Charging = $varies
   • #SolarEV Community Solar subscribers = $varies
   • #Web3CLT / Tesla House Coop contributions (rent) = $varies
4. Receiving Affiliate Commissions
5. Receiving Dividends from pToken Digital Assets

Summary of Pros / Cons

Web3 Ecosystem Support

• Unlock-Protocol [DAO / Co-op Membership NFTs]｜🟣 + 🔵
• Aragon.org [Mint Social Tokens / DAO Dashboard]｜🟣 + 🔵
• Safe [Multi-Sig Web3 Wallet / DAO Treasury]｜🟣 + 🔵
• OpenSea.io [NFT Exchange]｜🟣 + 🔵

There do not appear to be any noteworthy considerations for 🟣 Polygon vs 🔵 Base.

🟣 Polygon

PRO

• USDC can be more easily obtained (specific examples include: Juno.Finance / Crypto.com / Uphold.com / Kraken.com [🌐] | @YonksTEAM has accounts at these aforementioned places)

CON

• blockchain transactions are more cumbersome requiring $MATIC
• ongoing SEC case “is Polygon ($MATIC) a security?” may cause continued questions by our new DAO members if we stay the course with Polygon
• Network upgrade to “Polygon 2.0” (currently underway) seems to be causing confusion within the ecosystem with their execution strategy (NOTE: this is from @Yonks perspective as of writing this proposal). This will also require a token swap … $MATIC ⇒ $POL some time here in 2024. The confusion becomes amplified with Polygon zkEVM. It somewhat seems that the timing of this Network Upgrade Announcement coincided with the SEC news (announced 1 week after SEC case made news).

🔵 BASE

PRO

• Coinbase is likely a more recognized “institutional brand name” with our target audience (Gig Workers & potential investors) than Polygon.
• Coinbase has an immense amount of resources and have already publicly indicated that stablecoins (USDC) and Base are key 2024 priorities (see Techcrunch.com article).
• positive momentum indicator. Dune Dashboard indicates that Base, as of week Feb 5th 2024, has surpassed Optimism ($OP) in weekly transactions + weekly new users

CON

• [con / pro❓] USDC (Base) is more difficult to obtain through non-Coinbase channels, and may continue to be more difficult. If our DAO members use Coinbase account (CEX) + Coinbase wallet (web3 wallet) to obtain USDC it may be a superior experience to on-ramp / off-ramp compared to other solutions.

Action(s) Required to Implement this Proposal

🟣 Polygon

• We have already been planning to utilize Polygon. No necessary actions if we vote for Polygon.

🔵 BASE

• Create new SmartContracts necessary for DAO / Co-op Member framework (SmartContracts for: <1> Membership NFTs / <2> Board of Stewards / <3> Social Tokens).
• Update DAO LLC Articles of Organization with Wyoming Secretary of State (<3> $50/ea + 2-5 hours paperwork / fulfillment).
• Communicate intentions with ChainRaise.io of using Base for our ♻️ #GigsGoGreen / Colorado PBCs Regulation CrowdFunding Offerings launching 2024-Q1. This will become our pToken Security Tokens for #TeslaBlack / #SolarEV / #Web3CLT PBCs of Colorado. (PBC = Public Benefit Cooperative).

Reference: Articles / Dune Dashboards / Etc

Articles / Blog Posts

• 🌐｜05Jun2023 | SEC Claims Solana, Polygon, Cardano Are Securities in Binance Lawsuit (Decrypt.co)
• 🌐｜12Jun2023 | Introducing Polygon 2.0: The Value Layer of the Internet (Polygon.Technology)
• 🌐｜03Aug2023 | Coinbase Sets Public Launch of ‘Base’ Layer 2 Blockchain for Next Week (Coindesk.com)
• 🌐｜16Aug2023 | Layer 2 Wars Heat Up As Coinbase Launches Base (Forbes.com)
• 🌐｜14Sep2023 | Polygon 2.0 Implementation Officially Begins, The First Set of PIPs (Polygon Improvement Proposals) Released (Polygon.Technology)
• 🌐｜15Feb2024 | Coinbase cites stablecoins, Base as key 2024 priorities after crushing Q4 estimates (Techcrunch.com)

Dune Dashboards

• 📊｜🔵 BASE Mainnet (Bridges, Network Activity, Fees/Revenue and Dex Stats)
• 📊｜Ethereum Layer 2 Growth Metrics: Base, Optimism, Arbitrum
• 📊｜Ethereum and its L2: Growth Comparison (Ethereum vs Arbitrum / Optimism / Base)

Vote

• 🟣 Polygon (token: $MATIC)
• 🔵 Base (token: $ETH)