Cancelled; community feedback will be taken into account and proposal will be restated later in clearer terms in the coming days.
10 days ago
Cancelled
Cancelled; community feedback will be taken into account and proposal will be restated later in clearer terms in the coming days.
Comments (15)
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Proposal Failed
Summary
0%
Aye
0%
Nay
Aye (5)0.0 DOT
Support0.0 DOT
Nay (25)0.0 DOT
Hi,
3 questions/concerns:
1/ Why do you want to DCA DOT into HOLLAR and not stablecoins into HOLLAR ?
There is no obvious reason to dump DOT here if the final point is to get stablecoins.
2/ Why should we fund this request without any demo of the final product?
The sentence: "Given that W3C is not released yet, some of the mechanisms / features and details are not yet public information." echoes to "Trust me bro" here.
But "Trust me bro" situations never ended well in OpenGov, leading to many dramas in the past under Giotto's run.
What if the product has a bad UI/UX?
What if the product doesn't target the good audience?
What if there is no associated marketing campaign to bootstrap users?
What if there is no use case once people are certified to be human?
3/ Why the Root track?
It's supposed to be an emergency track.
I feel the community is missing the global picture. We would need way more information to confirm this request.
We need a plan. If you can't showcase anything, it feels like we're throwing a coin in the air.
Let us know.
@SuperDupont-Nexus
Thanks for the question!
1/ Why DCA DOT into Hollar
Given the size of the request and how slowly the USDC/USDT DCA takes place, it felt best to go with DOT - also allowing the community to use and request the USDC/USDT.
2/ Why should we fund this request without any demo of the final product?
We want to ensure that when the product is ready for launch, it can launch with the incentives on day 1.
There will be associated marketing and use cases beyond becoming a citizen, however product demos and further information about the product will come when the time is right.
3/ Why the Root track?
The root track is required as the proposal is an XCM call which requires root level access to swap tokens and place them on the Polkadot People Chain sovereign account (on hydration).
After the swap, these assets are still controlled by Polkadot Governance (DOT holders).
As mentioned - further information about the product will come when the time is right.