TEC Hatch DAO Implementation Specification
The Token Engineering Commons hopes to advance the field of token engineering by creating a purpose driven economy that will curate and fund TE projects with an aligned focus.
The intention is to launch first as the TEC Hatch DAO and potentially upgrade to a Commons which will include an Augmented Bonding Curve and Conviction Voting. However, this is up to the will of the TEC Hatch DAO and the Commons upgrade is not in the scope of this document. This specification is solely for the initial deployment of the TEC Hatch DAO.
The TEC Hatch DAO will have two main phases. First the Hatch where funds will be sent into the TEC Hatch DAO and TECH tokens will be minted. After the Hatch, the TEC Hatch DAO will be live and have the ability to vote on how to use these funds to best execute on their mission. This document is somewhat technical in nature, but it is the single source of truth for what is being deployed and is intended to be referenced whenever describing how the TEC Hatch DAO works.
Holders of Token Engineering Commons Hatch DAO Tokens control the funds sent to the Hatch collectively and individually and can take part in key governance decisions of the project.
Rights and privileges
The initial privileges:
- Using Dandelion Voting to control the funds in both the Redeemable and the Non-redeemable Agent applications.
- Using Dandelion Voting to upgrade the smart contract system that underlies the DAO.
- As long as TECH token holders have not voted yes on a proposal yet to be executed, TECH token holders can redeem their tokens and withdraw their proportional share of funds held by the Redeemable Agent application.
- Token symbol: TECH
- Token name: Token Engineering Commons Hatch Token
- Decimals: 18
- How divisible the base unit of the token can be. If the Decimals is 18, then you can divide 1 token by 10^18
- Transferable: No
Dandelion Voting is "god-mode" within the TEC Hatch DAO. It controls almost everything in the DAO. TECH Token holders use this application to collectively decide how to use the funds within the DAO and can control the smart contract system that makes up the DAO.
- Rage Quit Period: 48 hours
- The period of time after a vote passes before the vote can be executed. This gives hatchers that don’t approve of the vote an opportunity to leave the hatch before vote execution.
- Minimum Goal: 800,000 wxDai
- The minimum amount that needs to be collected during the Hatch to create the TEC HatchDAO, if less than this is collected, the funds will be sent back to the addresses that sent it.
- Score token decimals: 0
- How divisible the base unit of the Score token can be. If the Decimals is 0, then the token is not divisible.
- Membership Ratio: 10 wxDai/CSTK
- The amount of wxDai (wrapped xDAI) each CSTK Token holder is able to send to the Hatch per CSTK they have. If the ratio is .005 wxDai/CSTK then the user has to have 200 CSTK to send 1 wxDai
Impact Hours determines how to distribute TECH tokens to the TEC Community that earned Impact Hours. Impact Hours are rewarded via the "Cultural Build Tribute" which is designed to mint TECH tokens to reward everyone inside the community that worked to build the culture and tech that made the TEC Hatch DAO possible.
- Impact Hours Token: 0xf1665f141c0C4403525D7DF4757012d832FD3C1b (IH-S)
- The token that controls the Impact Hours distribution, scaled for proper parameterization.
Agent 2 can interact with smart contracts and controls the funds set aside to create the economy of TE Commons. It is controlled by the Dandelion Voting App. The funds here can also be redeemed by the individual TECH token holders on a pro rata basis.
The permissions that will be set are (click to magnify):
(1) CONTRIBUTE role is behind the Hatch Oracle ACL Oracle. This prevents anyone from contributing more funds that what they are allowed based on their membership score.
(2) REDEEM role is behind the Dandelion Voting (DV) ACL Oracle. This prevents redeeming tokens that are blocked in a vote.
(3) CREATE_VOTES role is behind the Hatch ACL Oracle. This prevents creating new votes before the hatch token vesting complete period has passed, so anyone can redeem during the first vote.