A proposal to have some changes to both Euler and euler~Foundation

A place to discuss the proposals!

As promised, I have submitted a proposal with my idea to have changes to the economic models of both, the Euler network and the euler~Foundation, hence this proposal is submitted on both:

  1. The Euler network (still in deposit period): https://cyber.page/governance/7

  2. On euler~Foundation: https://mainnet.aragon.org/#/eulerfoundation/0x47cab484d85ff17c7849d0c198b5313db672f4ce/vote/14/

In a gist, the idea is to transfer 4.6 TEUL (4.6 trillion EUL) to the EUL community pool (without a further transition of these in CYB tokens) and to issue an equal amount of GOL tokens on euler~Foundation, that ere burned at the end of the auction balance.

Now the catch! My idea is to use those new GOLs as a bounty for the person who will submit the best proposal as to what to do with the EULs and who will design and oversee this model come to light. I have proposed ideas. So feel free to read the proposal, and even if you support the idea, you will still need to propose your design for a further community vote!

The ideas should be submitted here: https://github.com/cybercongress/cyber-foundation/tree/master/CFIP

The full text of the proposal can be found here: https://cyber.page/ipfs/QmYS6x5hkuFS3MSCWtuDwLJ6JT1qodTUjKETRhnSDVjtTT

A thing to note: both current proposals will NOT have any effect on anything. They are in place to see if the idea is supported. My goals are clear:

  1. To increase community participation
  2. To get the community involved in both, euler~Foundation and on-chain governance at Euler
  3. They do NOT touch the ETH from the test~Auction and do NOT effect the economic model of Cyber(!) (however you are free to offer this in your proposal - the community will decide)
  4. To create a more decentralized design for euler, that involves the community
  5. To create more tools that are needed to involve the community in daily action of the network and the DAO
  6. Award those who are already doing work
  7. Arouse the interest in the idea that the Euler network isn’t just a test network!

I urge you to take action on this by voting on both, A and B (of course, A has to see full deposit first, I will be glad for support on this)

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A small recap of the proposal for those who don’t have the time to read the full text (this is one of those rare cases where its NOT necessary!)

The proposal is basically asking 3 questions:

  1. Do you want to see changes in the economic model of the Euler network?
  2. Do you want to see changes in the economic model of the euler~Foundation?
  3. Would you like these changes to be made not by a cyber~Congress, but rather by someone from the community in order to achieve a more decentralized design?

That’s it!

It then goes on in detail as to why I am offering to make changes and proposes a lot of ideas with a follow up competition for a bounty for these changes.

The proposed changes can be summarized as the following:

  • Use the EULs left unclaimed from the auction and the GoT for Euler comm pool
  • Possibly issue new GOLs at euler~Foundation to pay for a bounty (so NOT to use the ETH) or to increase the budgets of euler~Foundation

As simple as!

2 Likes
1 Like

Good proposal. I think this will facilitate experiments in the Euler network and Euler Foundation.

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Thanks. We will need a lot of work together as a community to make this happen if it passes

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Discuss the submitted ENIP before the vote: https://twitter.com/cyber_devs/status/1290609812632416258