Create a Regenfarm with Giveth and TheStandard.io

Giveth Proposals
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The Standard DAO is interested in spinning up a RegenFarm. In this post, I will outline the details of their DAO & the RegenFarm they want to launch.

Intro to TheStandard.io
The purpose and vision of TheStandard.io is “a decentralized and open monetary system controlled by people, not by banks.” Here is their Twitter and the token ticker of two coin token economics with $TST and sEURO on Etherscan. The membership token (TST) and the stablecoin (sEURO) haven´t been traded on secondary markets yet. TheStandard.io are aiming to make TST and sEURO available on Uniswap 3.0 via the IBCO (Initial Bonding Curve Offering).

The Standard DAO
Our DAO is aiming to be the governance model for the Standard Protocol with voting power on the following decisions:

  1. Changes in the technical features of the Standard Protocol
  2. Suggestions, onboarding, and offboarding of ecosystem partners
  3. Management, allocation, and transparent reporting of the Standard DAOs treasury
  4. Execution power of emergency shut-downs of the Standard Protocol
  5. Create proposals for the general improvement of the Standard Protocol

Our DAO will replace the traditional monetary system by mirroring every fiat currency in the world with stablecoins, which are over-collateralized by hard and soft assets (ETH/BTC and Tokenized Gold). Our monetary system is decentrally owned by the people, not by banks.

Net Positive Externalities:
The Standard DAO will revolutionize the monetary system by using the Standard Protocol to mirror every fiat currency in the world beginning with sEURO, which is owned by people, not by banks or other central authorities.

Offering a decentralized alternative pegged to local fiat currency is a great way to onboard people into the web3 space and open a door for them to take advantage of all the web3 opportunities.

RegenFarm Details (two options):
(1) They want to spin up a sEURO/USDC or ETH or DAI Univ2 RegenFarm on Mainnet.
They are interested in supplying 68ETH-worth of sEURO to reward their liquidity providers.
The $5k + 2% for donation-eth & our liquidity multisig would come out of that 68 ETH
Proposal Process on theStandard.io side.

(2) They want to spin up an sEURO single staking RegenFarm on Mainnet.
They are interested in supplying 68ETH-worth of $TST to reward their liquidity providers.
The $5k + 2% for donation-eth & our liquidity multisig would come out of that 68 ETH
proposal process on TheStandard.io side.

DAO Governance Process
The Standard DAO has established its community within Discord and other social media channels. Now we are looking into options to add DAO governance options to the Discord channels to start with the first DAO interactions. At the moment the decision has been made by the co-founders’ team to gain more traction for theStandard.io.

Open to any thoughts, questions, comments, or concerns here!

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GM @Thaya !!!

I’m so happy to see your proposal on the forum. I love the idea of having more decentralized stablecoins and the opportunities for more people to be onboarded to web3. Also love that you are planning to use a Bonding Curve for the Standard.

I think both options are great fits for Regen Farms. Traditionally, the product is focused on providing liquidity to a token pair, but considering your own goals at The Standard, we can also provide the single stacking farm and I would support this.

I would love to have The Standard at a Community Spotlight to tell us more about the project. I know many people at Giveth are interested and have questions… me included :slight_smile:

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Should we create the sEURO/DAI (another stablecoin or ETH) Regen Farm for ThStandard?
  • In favor
  • Against
  • Other, I will add my comments

0 voters

Should we create the sEURO single stacking Regen Farm for ThStandard
  • In favor
  • Against
  • Other, I will add my comments

0 voters

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Hey @Thaya! Thanks for putting together this proposal. There were a couple of questions that came up in the governance call:

  1. What makes The Standard “Regen”. RegenFarms is a product we offer to value-aligned DAOs in the ecosystem and self-identifying as “Regen” is one of the requirements.

  2. What % of over-collateralization is used to keep the stablecoins stable?

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Hi @karmaticacid !

Thanks for your feedback and questions.

(1) The Standard Protocol is a community-driven DeFi Protocol governed by The Standard DAO. We empower the unbanked to participate in an open global market without using the banking infrastructure which is a large CO2-producing industry.

(2) The stablecoins are 125% over-collateralized by mixed crypto assets and tokenized insured and audited hard assets.

Looking forward to additional questions.

With Best Regards

Thaya

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@Thaya this sounds really interesting! Just curious to get a few questions out of the way that will inevitably come up since people are more weary about stable coins after the whole Terra debacle (understandably)…

I know you use a different model (not algorithmic) but even still, other stable coins face different types of criticism (e.g. tether over things like transparency or lack of backing and poor quality of those assets etc). So in light of that, here it goes:

1.You mention SP is community driven, how centralized/decentralized is the platform?
2. What level of transparency do you provide into the mix of collateralized assets? What is the mix?
3. What about audits? Are they ongoing?
4. What’s the timeline for TST and sEuro?

This sounds like a great initiative, thank you for bringing it here !

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Hi @tropicalmango - sorry for the delayed answer I have aligned with the co-founders to give you a valuable answer.

Here are our answers:
1: there is a core team of 20 building the initial smart contracts. They are based out of Berlin, London, and France. The co-founders were from Vaultoro.com, the first exchange to launch a gold/bitcoin trading pair in 2015. But the actual platform is a bunch of smart contracts fully decentralized. Voting for changes will be done by thousands of tst holders from all around the world using a snapshot - we are in the process of rolling out the tools.

2: it’s all on the Blockchain. The PCV will be all on the chain, and everyone can see the allocation and vote on it. But this will be small compared to the private vaults where users lock up value. The user holds the keys to the smart contract. No one can touch people’s collateral but them. (unless it falls below collateralization. Then anyone having TST can bid to buy the smart vault. This ensures the protocol always has more assets locked up than stablecoins in circulation.

3: smart contracts will not change much after launch, but yes, if we upgrade the system, there will be another audit. The last one was done by our advisor’s (Hartej) company, Zokyo labs, which pioneered the smart contracting auditing space.

4: hard to say because we want to launch when market bulls start to re-enter the arena. Until then, we keep on building. But I can say we are aiming for November

Looking forward to more questions :slight_smile:

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The Snapshot vote for The Standard RegenFarms can be found here: Snapshot

The community has voted YES for two RegenFarms for The Standard on Mainnet:

  1. sEURO/DAI
  2. sEURO single-sided staking

@cotabe will be coordinating with The Standard to kick this project off w/ launch expected late November 2022!

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