Archon Proposal: Exit Via Burn Layer

in #archon • 4 years ago

First off let me start by saying I haven't written the code for this yet, but it shouldn't be too difficult to code up.

Governance Account Holdings and GP



An archon user technically has "ownership" of the funds contained within @archon-gov based on GP, but they currently have no way to claim those funds (they can only use GP to control them). There needs to be a fair way for a user to obtain their share should they wish to exit (or get rid of a portion of their holdings) other than just on the market. Not to mention this could encourage more users to build the fund as they would have a way to claim their share of it.


To keep the math right, the layer can't use straight up GP for value calculation, because a user would have to power down their Archon first in order to exit. An adjusted GP will have to be calculated on each exit for ARCHON and ARCHONM, as though that Archon was staked and opted-out holdings will have to be accounted for (giving a slightly different GP)

The proposal:



@taskmanager will create a bot that does the following (on @archon-gov account):

  1. Watches for transfers to @archon-gov (ARCHON and ARCHONM only) with the memo "exit".
  2. Calculates an adjusted GP value for the tokens sent for the user.
  3. Transfers the amount sent (ARCHON or ARCHONM) from @archon-gov to @null (burns it).
  4. Sends the user a share of liquid holdings on @archon-gov based on the GP value of tokens burned. (skips ARCHON and ARCHONM)
  5. Delegates HP share for 6 months to the user.
  6. Powers down the user's share of holding account hive-engine tokens and sends it to the user as they power down.



This will also require an update to The Governator discord bot to allow users to see ~ what they will get before they decide to burn via this layer.


I know the layer isn't exactly needed yet... And coding it won't be the top priority either, but voting this in now means it should be ready and running long before @archon-gov grows to the point where people consider giving up their GP (ARCHON and ARCHONM) for a slice of the account's holdings...

#archon-proposal #archon-governance
4 years ago in #archon by
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     4 years ago  

    YES

    Upvote here to support the proposal, any % upvote will trigger 100% GP support.
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     4 years ago  

    NO

    Upvote here to STOP the proposal, any % upvote will trigger 100% GP support.
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       4 years ago  

      This is exactly the type of incentive structure to grow the @archon-gov account up! Great idea, you have my vote for 'YES'.

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         4 years ago  

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