- Dec 19
- Brian / Road to $1
- Dec 12
- Max / Quarter Retro
- Dec 5
- Max / Retreat Plans
- Max / Regen Quarter Retro call
- Max / Regen token nature
- Nov 28
- Matt / Shared Security State of Play
- Matt / Inflation reduction proposal 00:22
- Gregory / Burn 00:43
- Nov 21
- Max / Gitcoin campaign
- Max / Group account
- Brian / Road to $1
- Gregory / Burn+Mint solution
- BuilderDAO / how the different DAOs interact
- BuilderDAO / what representation we need on the upgrade RFP review committee
- Nov 14
- Will / the token burning and inflation reduction votes on-chain
- Brian / Road to a $1
- Sarah / why is the marketplace the only place we are considering burning REGEN?
- Max / Research updates
- Max / Time of sync calls
- Nov 7
- Max / Regen Alliances
- Will / Validators fees
- Will / Stride liquid staking ~Builder DAO and it’s impact on tokenomics
- Max / What’s the role of Regen Network in each scenario and what’s the economy
- Max / Engaging new specialists and payments
- Oct 31
- Ryan / Burn feature upgrades
- Paul / Validator set resizing
- Mark + Gregory / Model
- Gregory / In person event
- Max / Foresight
- Max / ReFi Gathering + Regen Alliances Unconf
- Oct 24
- Ryan / Relation & the role of the Tokenomics WG - who’s doing what?
- Gregory / RND comissioned stat recursion model that affect token price
- Max / @Decreasing Inflation / Sales Pressure on the Token
- Max / @Increasing the Token Demand through Service Fees
- Oct 17
- Will, Ryan / a recap from the governance call Dave hosted on the Discord
- Aaron / Proposal
- Max / Value Stream mapping
- Max / Working group list
- Oct 10
- Max / Process
- Max / Research upd
- Will / How token relates to accounting value
- Oct 3
Dec 19
Brian / Road to $1
Dec 12
Max / Quarter Retro
Dec 5
Max / Retreat Plans
Eth Denver is easier for me, but acknowledge that something more international is great & important to include others!
Max / Regen Quarter Retro call
next call – retro, after – road to $1
Max / Regen token nature
https://www.sec.gov/files/rules/sro/nyse/2023/34-98665.pdf
https://www.nyse.com/introducing-natural-asset-companies
Nov 28
Matt / Shared Security State of Play
Matt / Inflation reduction proposal 00:22
- 100% agree, the rate is the important number here
- Will Szal (28 Nov 2023, 22:27) Yes—Cosmos Hub shifted rate from .13 to 1.0 back in 2021. REGEN is still at .13, and part of this proposal is to bring it up to 1.0 per the Hub research and precedent.
- https://info.osmosis.zone/token/REGEN $195k
- Here’s the inflation rate-of-change Hub discussion/research: https://forum.cosmos.network/t/proposal-48-accepted-inflation-rate-change-correction/4834
- idea on liquidity providers to setup preference price
- Matthew to propose the increasing speed of change 1st
- Min and Max as 2nd
Gregory / Burn 00:43
Nov 21
Max / Gitcoin campaign
Max / Group account
Brian / Road to $1
Gregory / Burn+Mint solution
BuilderDAO / how the different DAOs interact
BuilderDAO / what representation we need on the upgrade RFP review committee
Nov 14
https://otter.ai/u/HPCAqiKZceOukLBNDF2iONsto8g?utm_source=va_chat_link_1
Will / the token burning and inflation reduction votes on-chain
I guess we just need specific numbers for the burning first?
I’d like to ensure we all understand that decreasing inflation is being discussed in a way to minimize engineering time, but that there is another (as I mentioned earlier) important conversation related to inflating tokens for other important network functions that are additional to security (which is the base utility of th e”ecological data ledger of record” element of the Regen Network value prop).
So, a more holistic approach to inflation does need to incorporate a diversification of what we are allocating protocol funding for.
Also we need to increase the diversity of utility of regen by implementing bonding of key roles in credit class creation (creation, admin). So those two suggestions I personally have (again repeated here in parenthesis: adding a “engagement with regenerative activities” allocation tool for increasing percentage of inflation allocation to addresses provably engaged with network activities adding value beyond just security, and creating a “eco credit creator bonding mechanism) should be considered in the “holistic more long term upgrades that require engineering and modeling to move forward” as opposed to the “mint burn and inflation reduction” which I believe are straight forward upgrades that align agent incentives (including RND PBC) with network health in a simple understandable way.
Smart Stake – best dashboard
maybe also would like to validate
Brian / Road to a $1
Jacob Notional Labs – looking to hear the plans for the token
Buyback options – a bit more complex,
I'll mention something.... Internally we discussed accepting payment in olive oil or maple syrup Convo was serious These are things that vn has a deficit of
Sarah / why is the marketplace the only place we are considering burning REGEN?
why aren't we burning upon claiming rewards? why aren't we burning upon delegation/redelegation? why aren't we burning upon credit class creation? why aren't we burning upon registering a project? why aren't we burning upon issuing a credit batch?
Max / Research updates
Scenarios
Max / Time of sync calls
Nov 7
Transcript
Max / Regen Alliances
https://trustedseed.org/participate/unconference-regen-alliances – sign up (bottom of the page)
Will / Validators fees
Decreasing Inflation / Sales Pressure on the Token
Target 8-12% (2x down)
The feedback Will is hearing is that validators strongly oppose a mandated set size reduction, and would much rather be able to leave of their own accord, so we’d be much better off reducing
https://docs.cosmos.network/v0.50/build/modules/mint#inflation-rate-calculation
https://www.mintscan.io/regen/parameters
~ î‚° hubl regen q mint params
{
"params": {
"mint_denom": "uregen",
"inflation_rate_change": "130000000000000000",
"inflation_max": "200000000000000000",
"inflation_min": "70000000000000000",
"goal_bonded": "670000000000000000",
"blocks_per_year": "4360000"
}
}Some validators would rather move based on the economical reasons (lower inflation), than excluded by the set size.
Regulating the number seems to be rather a distraction
Why inflation is so high?
Big portion is unstaked (67% staked)
These are our current params for x/mint on mainnet: http://mainnet.regen.network:1317/cosmos/mint/v1beta1/params
https://docs.cosmos.network/v0.50/build/modules/mint#inflation-rate-calculation
Example on inflation cutting Axelar Network
http://mainnet.regen.network:1317/cosmos/mint/v1beta1/annual_provisions
Meaning that we’re minting 20% faster than our expected inflation
Will / Stride liquid staking ~Builder DAO and it’s impact on tokenomics
Stride ATOM https://app.stride.zone/
Max / What’s the role of Regen Network in each scenario and what’s the economy
Description
Key events / signs of this scenario
Who would win
Who would lose
What we need to do
Max / Engaging new specialists and payments
Oct 31
Ryan / Burn feature upgrades
Ryan has wrote a summary https://commonwealth.im/regen/discussion/13828-token-burning-upgrades
Next steps:
- upgrades can take 1-couple of weeks + testing (month maybe)
- when is the good time?
- Next big SDK update update in 3-4 months
Paul / Validator set resizing
I can share a small update on Validator set resizing - tldr; Sarah started this awesome document, I can explain: https://docs.google.com/document/d/17IM0SF7u49eD97HhG2CdQZzvWjWi3QthfR10QQmg9g4/edit
- RegenScore ideas – identify contribution scores / leaderboard for variable rewards?
- Need a collab process to define rules
- Foundation more interested in notable contribution
- Redelegate and reduce size is a bit different
- Validators don’t participate here and have negative opinion to reducing the set size
- Even small validators have many addresses delegating (thousands addresses in total)
Next steps:
- running through this group (sit a bit longer?)
- go to commonwealts
Mark + Gregory / Model
Gregory / In person event
up to 12 people (maybe more AirBnB)
after or before thanksgiving
3-5 days to co-work on Token Economy (Will, Austin are coming + Mark, Aaron)
Max / Foresight
Max / ReFi Gathering + Regen Alliances Unconf
Oct 24
transcript: https://otter.ai/u/0R5a3CdZx_bihDzA9vgQB5W1FGU?utm_source=va_chat_link_2
Ryan / Relation & the role of the Tokenomics WG - who’s doing what?
Conversations on other DAOs
Smth like Juno charter? Gordien knot
Gregory had a talk with Christofer (Noma / IBC), interesting provocation and bigger question
same number of people in the regen space, not a giant community, but really engaged (exciting, uncommon)
Rewarding not so much security, but knowledge for network success
Do a radical overhaul – unique window of opportunities for the change now (like in a lifecycle)
We were a caterpillar, now we need a cocoon and then a butterfly
Now thinking about the groups, burn functions etc – that’s not the end transformation, but a re-programming towards the re-service
Was useful to name this stages
Should be brave, setup protective environment
Is POS working for indigenous communities? Probably we don’t have right political economy for our desires
Had to learn and evolve
Transformative, not incremental
Would be challenging to get radical movements (like shutting IBC) before we have vision
Would like to see custom settings
I would prefer that we keep IBC and create technical connections to ETH communities, which that allows. We also will be using IBC with Cheqd credentials.
We do have use cases in the cosmos for technical integrations that IBC is required for, and do benefit our community.
Context for radical innovation
Broad strokes and the process
I'd like to see a convo focused on the issue of validators w/ place based responsibilities. How does regen interact/support/empower bioregional regen efforts? Ogallala Life presents a use case to consider though we need consider others esp global south.
Should O.L. spin up a validator, or team up with one? What expectations beyond securing blockchain? How might this bolster tokenomics ie reduce supply, increase demand?
Role RWA in regen tokenomics?
Gregory / RND comissioned stat recursion model that affect token price
Max / Decreasing Inflation / Sales Pressure on the Token
Max / Increasing the Token Demand through Service Fees
Ryan has wrote a summary https://commonwealth.im/regen/discussion/13828-token-burning-upgrades
Oct 17
Will, Ryan / a recap from the governance call Dave hosted on the Discord
We are waiting on notional to provide cost and timeline so we can adjust the formal proposal for a vote with Jake putting up the vote
It’s a combined proposal Cosmos SDK 0.50 and cosmwasm
Need to wait for an official release
Changes that should be included for tokenomics? Iterative upgrades
If changes many points – hard to discuss, should be focused updates
Tokenomics changes should be implemented after? Depends
Aaron / Proposal
https://hackmd.io/D7Qf7S68ReSdB3OGLq5m3g
think we need this to be mandatory unchain no matter what credit type
But it is impossible until we have more of the contract stuff happening onchain I believe. Because people can always do deals “off chain”
I think any off chain RND transactions should be finished unchain in some way then, to trigger this fee, right?
I was mostly referring to the difference between registry and open credits, it seems there is basic functionality we can implement for all onchain transactions equally; off chain we need to do this manually, and ensure this fee is in the contract they sign
More practical approach – not everything goes on-chain
If RND is making this commitment, then that scenario should be explicitly listed in the proposal, so people who don’t understand this process have this context when they see this document
80/20 rule in capturing value
Next steps:
- who wants to lean in?
- propose the upgrade / proposal for the larger community
- need the drive for the proposal / regen ledger & app (Ryan Christoffersen + engineering DAO? + Gregory for community readable proposal)
Max / Value Stream mapping
$60k inflation - mostly validators rewards / sold monthly (quick search, maybe more analytics needed)
burn matching the emissions (or sales) or +daos
Decreasing the validators set?
74 active validators now
We should determine what delegation minimum is a financially viable option Yes, we need to have the RIGHT validators Get rid of the degens
Make sure validators are aligned in multiple parts of the ecosytsem
radically cutting the validator set – bit overhaul of community staking DAO, gradual decrease (over 3 years?)
slow evolution away from POS towards proof of Authority / Engagement / Regeneration
validators deeply engaged beyond infra provision, tiered inflation allocation
Our validators should be team members and project developers and advocates
Paul and Sarah talked about creating an app that automates this relegation if we can define this equation socially
We could create credentials on cheqd to query and delegate according to an equation So we can give crews for non chain activities
What are the attributes to be rewarded and how fast should be the change?
Make it a Meme =) build a discussion in the group
+++
BTW there is a proof of engagement protocol white paper that Ethan Frey created (I think using cosmwasm) for T Grade network That network ended up failing.
Max / Working group list
Oct 10
Max / Process
how to move to action
Max / Research upd
Will / How token relates to accounting value
Oct 3
We’ve done the first public sync call for the tokenomics working group, which would happen weekly further on. We had 13 people onboard and have discussed next topics:
- Check-in and introductions
- Visions discussed over the retreat meetings (Aaron and Michael Z)
- Minting and burning proposal (to be prepared for commonwealth soon)
- Do we adopt cosmwasm?
- Executive summary and plans for the year
Overall there’re some ideas for the nearest updates and a more longterm developments including research and audits.
You can check the recording and notes here: https://www.notion.so/maxplay/Weekly-Sessions-Plan-e91fc224150148499dd7f7bbb631d58d?pvs=4
Also you can join our working group by signing this form: https://forms.gle/5LMMRHCtjCm6XSDw7
- Check-in
- Max – steward
- Will – president of the board, regen
- Jeancarlo – SDK
- Scott Kilduff – leading policy KlimaDAO
- Gregory Landua – cofounder of $REGEN
- Sarah – RND since 2019
- Felix – validator, tokenomics expert
- Aaron C – CTO RND
- Paul W – Data module, validator
- Mark – CFO RND
- Cory – product & engineering $regen
- Sev – Sunflower ecotech, agroforestry methodology
- Updates from Will
- 3 new DAOs: tokenomics, engineering, marketing
- how do we plan together and orchestrate complex processes?
- This group: ministry of (token)economics
- DAF can receive fiat, crypto multisig with public owners
- Reports go in tweet
- Juno was on a retreat (DAODAO)
- Do we adopt cosmwasm? https://commonwealth.im/regen/discussion/12880-signaling-prop-cosmwasm-on-regen
- “Open crediting” discussion: https://commonwealth.im/regen/discussion/12124-permissionless-credit-class-creation-on-regen-network
- Discussion Aaron with Z:
- burning and restricting supply
- find the most active place and burn the portion of tokens
- % of primary sale (on-chain or OTC)
- fees for different services (registration, issuance etc)
- in Klima – inflation not connected to real activity (problem!)
- RegenNetwork wants to export credits to bigger external economies (and distribute fairly to extend our capabilities)
- Minting now is only for network security
- Agenda Building (mostly around the exec. summary)
- Regen Tokenomics – Executive summary for Funders
- what about the ideas of $REGEN being a proxy / aggregate for ecological regeneration, or the concept of natural capital backed currencies, eco credits as treasury reserves? these things are technical changes that change the narrative & story, reasons for people to hodl and speculate.
- Aaron – commonwealth update just on burn/mint
- Naming
- How about the Regen Network Council of Regenerative Economics?
- …
- Closing round