finance.vote: Resident Pool Launch Sequence

Introduction

Resident Pool is a new kind of liquidity mining.

As a user you will gain access to network emission by holding a protocol property.

Protocol property is a slot in a smart contract that provides you access to the liquidity incentive token inventory of the finance.vote protocol.

Resident Pool uses ‘Harberger Taxes’ to broker ownership of these slots in an on-going manner.

What are Harberger Taxes?

Harberger Taxes are a proposed economic paradigm for improving the allocation efficiency of land by allowing a purchaser to be able to buy any property they like, at any time.

The idea, proposed by Glen Weyl and Eric Posner is an economic paradigm that promotes property holders to self-assess the value of their property. If a purchaser values the property higher than the current owner, they can take ownership of the property. In other words, every property is always on sale.

It is a tax, because the owners pay a tax based on the declared valuation of their property, effectively designing their own tax regime with higher taxes protecting their property from sale.

We use a slightly different technical implementation, but the goal remains the same:

Users declare two variables when staking their claim on a protocol property:

For example:

How many tokens do I get?

Tokens are emitted in what we call “pulsed liquidity mining”. Each pulse is a set amount of tokens, that will be determined by governance vote. Tokens are emitted with a quadratic drop off throughout the period of the pulse, meaning that there is a higher amount of tokens at the beginning of the pulse than there is at the end. Where you enter and exit the pulse determines how many tokens you get.

The tokens in the pulse are shared equally among the slots.

For example,

We have chosen a pulsed approach because it provides options to link these parameters to influence.vote, giving users the ability to tune future liquidity mining programmes.

Lot 7 has been held for a longer period of time than lot 4

The Launch Sequence

The Incentivised Test

Resident pool has been in test for several weeks following a thorough contract audit by Halborn.

Since last week it has been on the Ropsten testnet, where a small community based FVT testing team has been exploring the tool.

This week the Ropsten based Resident Pool will be released to Ethereum based citizens, where they will engage in a week long incentivised test.

In order to take part citizens must obtain Uniswap LP tokens from the Ropsten based rFVT pool, which they will use to stake in Resident Pool.

The top 5 yield earning citizens will share a $2k pot of FVT.

The Citizens Vote

Ethereum citizens will have till Friday 14th to explore the token economics and get a feel for the system before an influence.vote based Citizens Vote, will open on Friday following the close of the test.

Each ID will have 100 $I to quadratically vote on a list of potential options to be determined through dialogue in the token gated ETH Citizens Group.

This vote will close at midnight UTC on Sunday 16th May.

The outcome of this vote will determine the launch parameters of the mainnet launch

The Mainnet Launch

The mainnet launch of Resident Pool will take place at midday 12pm UTC on Monday 17th May

Ethereum Citizens will determine:

About finance.vote

finance.vote is a decentralised organisation, which builds voting tools for the Decentralised Finance (DeFi) space. Its cryptocurrency FVT is used as a governance token, which gives users power over the future of the network. The goal of finance.vote is to help people create digital democracies, which are owned and controlled by the users.

Join the DAO

Website: https://finance.vote

markets.vote (Prediction Market): https://markets.vote

Join our Unofficial Telegram Discussion channel: https://t.me/financedotvote and

Join our official token gated community: the Citizens Chamber. You need to mint a decentralised identity token to join.

Join our Community Call: at 3pm UTC every Friday in the unofficial group.

Follow us on Twitter: https://twitter.com/financedotvote

Follow us on Medium: https://financedotvote.medium.com

The consensus layer for #DeFi. Building the dApp suite for the decentralised future.