Talk:Judicial governance: Difference between revisions
(Created page with "The overriding principle of REP governance through the Forum reference mechanism is that REP actually doesn't cost anything directly. Revaluation is just a function of a certain percent of all new posts to tie REP minting and burning to real cash. If every Work SC is required to use a fixed percent ''g'' of the new REP minted with it to do governance then all Work REP is still the same value as any other contract. If no governance needs to happen at a particular moment t...") |
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== NOTE == | |||
Click 'Add topic' to separate subjects.<br> | |||
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[[User:Craig Calcaterra|Craig Calcaterra]] ([[User talk:Craig Calcaterra|talk]]) 04:26, 27 March 2023 (CDT) | |||
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==Governance can be cheap== | |||
The overriding principle of REP governance through the Forum reference mechanism is that | The overriding principle of REP governance through the Forum reference mechanism is that | ||
REP actually doesn't cost anything directly. Revaluation is just a function of a certain percent of all new posts to tie REP minting and burning to real cash. If every Work SC is required to use a fixed percent ''g'' of the new REP minted with it to do governance then all Work REP is still the same value as any other contract. If no governance needs to happen at a particular moment then the g percent can be burned to keep that contract the same value as others and the price of governance is still bound by ''g'' percent. The DAO should in general be happy when REP is burned instead of redistributed by governance, even the particular worker as long as every SC does the same, because it means the REP they do have is more valuable. It all works out following the quantity theory of money that if you have the same proportion of total tokens then you have the same proportion of power and reward, whether the absolute number of tokens is up or down. | REP actually doesn't cost anything directly. Revaluation is just a function of a certain percent of all new posts to tie REP minting and burning to real cash. If every Work SC is required to use a fixed percent ''g'' of the new REP minted with it to do governance then all Work REP is still the same value as any other contract. If no governance needs to happen at a particular moment then the g percent can be burned to keep that contract the same value as others and the price of governance is still bound by ''g'' percent. The DAO should in general be happy when REP is burned instead of redistributed by governance, even the particular worker as long as every SC does the same, because it means the REP they do have is more valuable. It all works out following the quantity theory of money that if you have the same proportion of total tokens then you have the same proportion of power and reward, whether the absolute number of tokens is up or down. | ||
Latest revision as of 03:56, 27 March 2023
NOTE[edit source]
Click 'Add topic' to separate subjects.
Please sign all comments by typing 4 tildes (~).
- To answer, use colons (:) to indent
- Use two colons (::) to indent twice
- Etc.
- Etc.
- Use two colons (::) to indent twice
Craig Calcaterra (talk) 04:26, 27 March 2023 (CDT)
Governance can be cheap[edit source]
The overriding principle of REP governance through the Forum reference mechanism is that REP actually doesn't cost anything directly. Revaluation is just a function of a certain percent of all new posts to tie REP minting and burning to real cash. If every Work SC is required to use a fixed percent g of the new REP minted with it to do governance then all Work REP is still the same value as any other contract. If no governance needs to happen at a particular moment then the g percent can be burned to keep that contract the same value as others and the price of governance is still bound by g percent. The DAO should in general be happy when REP is burned instead of redistributed by governance, even the particular worker as long as every SC does the same, because it means the REP they do have is more valuable. It all works out following the quantity theory of money that if you have the same proportion of total tokens then you have the same proportion of power and reward, whether the absolute number of tokens is up or down.
UIs can automatically calculate the estimated present value of our tokens based on the tokenomics formulas, to give users a sense of what the tokens mean without requiring the users to make the mental estimates. Craig Calcaterra (talk) 09:37, 7 March 2023 (CST)