Good news! With the info we have today we are still looking good to pursue this path.
Param Party, It happened:
We held a Param Party this week to parameterize the Regen Pool and the Rewards, if you want to play with the params, play with this spreadsheet: GIVeconomy Working Sheet (Regen Econ) - Google Tabellen
And you can see how we used the sheet and an overview of the parameters that we chose here:
Param Party Results
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We are going to turn off all functionality of the Regen Pool for now, besides what we need to get the FEI for our Angel Vault. That means no one can deposit some random token and borrow against their collateral, people deposit FEI, we deposit GIV to borrow that FEI, no one else will be able to borrow the FEI besides us… simple.
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We will also not advertise the Fuse Pool UI, instead we will make a card in our GIVfarm for depositing FEI and we will set it so we are the only group that can deposit GIV.
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The amount that we will borrow we estimate will be about $1M FEI but the exact amount will be determined based on the market cap of GIV so we can make the Angel Vault 10% of our market cap.
Here were the other params we settled on:
Regen Pool Params
| Param | Our Choice |
|---|---|
| FEI LTV | 0% |
| GIV LTV | 75% (Liquidation 133.33%) |
| Initial GIV Collateralization | 300% |
| Top up GIV Collateralization @ | 250% |
| Front-End FEI Deposit Cap (per Address) | 200k |
| Upgradeability | Yes |
| Reserve Factor | 10% |
| Interest model | FEI/FEI |
| Assets | FEI & GIV |
| Admin fee | 10% |
| Whitelist | None |
| Close Factor | 33% (advised by Rari) |
| FEI Supply Cap | 4M |
| GIV Supply Cap | What we deposit |
GIVstream Reward Params
We propose to target a total of 30% APR (2.5% in FEI and 27.5% GIVstream) at 1,500,000 FEI deposited, if we hit the 4M FEI Cap, the APR will be about 11%.
We propose to allocate 1,000,000 GIV from the Givstream to incentivize depositors for 6 months, but the exact rate of rewards will be determined by the price of GIV at deployment and adjusted regularly by the GIVeconomy Research Group, and the exact length of rewards will be determined by how long we want to continue the loan.
Regen Pool Management Multisig
We will make a new 3/5 gnosis safe for managing this process and the pool. I want to nominate the 5 nrGIV holders that are closest to this process:
Me (Griff)
Willy
GiantKin
Lauren
Mitch
One Decision Left
All the params above are of course still in advice process, and can be challenged in this thread, but there was one parameter that we didn’t
There is one Parameter we still need input on.
Do the Admin Fees go to donation.eth or giv.eth?
Admin fees from our loan will amount to $50-$500 paid in FEI per month… They would need to be withdrawn and are on mainnet… so honestly from our initial set up, the fees may not amount to much that is worth claiming because of gas on mainnet… that said there is an option to use the Regen Pool for other things in the future, so the initial setting will likely carry over, and the admin fees have the potentianl
As a Regen Pool, it would make sense for the funds to go to donation.eth, and eventually directly to verified projects there is a nice bit of marketing that we can enjoy from this choice. It would be the only Fuse Pool that supports Public Goods.
As a DAO we also could use this as a revenue stream, and since our purpose is very impactful, it’s not a stretch to say if the funds go to giv.eth then it is still a Regen Pool. giv.eth can also choose to donate those funds later, if appropriate.
Where should the Admin Fees go?
- donation.eth Let’s Regen it!
- giv.eth Let’s start a Revenue stream!
- I have a third option (and will add it below)
- Abstain
0 voters