Description
A community stablecoin.
Context
While the Edgeware Treasury has EDG available, the available liquidity isn’t great. While individuals need to pay for day-to-day expenses, using the treasury to fund proposals which then go on exchanges doesn’t always line up to an engaged community ecosystem. Launching a stablecoin would help with this. On Edgeware, This would be used in a few ways:
- The treasury directly depositing to create a Vault
- Any user / grant holder creating vaults
- Onboarding other collateral types
Almost all of the stablecoin projects that have been launched are not "fair launches", this presents an opportunity to apply the same "launch fast and launch open" principles to a proven project. Given the complexity of the project, Commonwealth Labs is interested in helping on all aspects beyond deployment.
The Commonwealth team has done substantial investigation on this subject, and it seems likely that deployment of the MKR-DAI system solves this use cause, allowing people to use EDG, as well as distributing tokens in an important public good.
Blueprints
- MakerDAO style stablecoin
The full deployment looks like the following:
- Deploy dss (with dss-deploy)
- Document all system parameters
- Add in new price feeds to oracles v2
-
2a. Figure out alternative oracles, using Uniswap V2 TWAP or ChainLink (need proxy to OSM)
- Figure out deploy process for adding in new price feeds to spot, vat, flip, flop, and flap
- Deploy Dss-gov, cdpmanager, vote-proxy deploy
- Deploy front ends (MCP Portal, Governance Portal), need to edit constants in @dai.js
- Using SNX Incentivizer to distribute Governance token to users
- Distribute Token
Working Criteria
Acceptance Criteria
Bounty
[Amount paid in EDG] / Portion of the launched token supply
Description
A community stablecoin.
Context
While the Edgeware Treasury has EDG available, the available liquidity isn’t great. While individuals need to pay for day-to-day expenses, using the treasury to fund proposals which then go on exchanges doesn’t always line up to an engaged community ecosystem. Launching a stablecoin would help with this. On Edgeware, This would be used in a few ways:
Almost all of the stablecoin projects that have been launched are not "fair launches", this presents an opportunity to apply the same "launch fast and launch open" principles to a proven project. Given the complexity of the project, Commonwealth Labs is interested in helping on all aspects beyond deployment.
The Commonwealth team has done substantial investigation on this subject, and it seems likely that deployment of the MKR-DAI system solves this use cause, allowing people to use EDG, as well as distributing tokens in an important public good.
Blueprints
The full deployment looks like the following:
Working Criteria
Acceptance Criteria
Bounty
[Amount paid in EDG] / Portion of the launched token supply