xGov prop. 161 - VoteCoin - Introduction Video

Governance xGov Proposals
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id: 161
period: 3
title: VoteCoin - Introduction Video
author: Everyday Algonaut, Ludo Scholtz (@scholtz)
discussions-to: xGov 161: VoteCoin - Introduction Video by scholtz · Pull Request #161 · algorandfoundation/xGov · GitHub
company_name: VoteCoin DAO
category: Community
focus_area: User Onboarding
open_source: Yes
amount_requested: 16000
status: Final

Abstract

Vote Coin DAO created onchain voting standard and open source solutions capable of efficient onchain community decision making. This includes the fractionalized and categorized delegation of the voting power, encrypted voting, trusted list management and results calculation by multiple functions.

With this grant request we ask for grant to fund creation of the video describing vote coin open standard and how it helps and may help Algorand ecosystem.

Team

Scholtz - Product owner. Active on Algorand forum, runs a few projects in Algorand ecosystem such as the VoteCoin, A-Wallet, Aramid Bridge, Stabilitas, ASA.Gold. Has been winner in few hackathons, such as Algorand encode hack 2021, EUvsVirus, Swiss blockchain hackathon 2021, Bitcoin bankathon, Encode DAO hack, Algo HackJam, Greenhouse hack III, Mega Ace Hackathon, …

Experience with Algorand

Scholtz & Co is management company for Vote Coin DAO.

Scholtz & Co is relay node runner.

We provide many open source tools to help algorand communities - scholtz (scholtz) / Repositories · GitHub

Everyday Algonaut channel

Present Proposal

We will create video with minimum content on:

  • How to create a question
  • How to delegate the voting power
  • How to manage trusted list
  • How the calculation of voting results work
  • How is the vote coin project beneficial for the algorand ecosystem

Benefits for the community

  • Better understanding how to manage onchain community decisionmaking more efficient
  • Better marketing for vote coin project where community can start their own DAOs for free

Additional information

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Other links with discussion:

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what are the costs associated with the videos and why isnt that in the best interest of the DAO to do them anyways? why should xgovs pay for it, what are we getting for that? votecoin hasnt seen any adoption in the ecosystem and now we are supposed to pay 16k for videos?

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The vote-coin Twitter feed seems to be minimally about the voting schema, and primarily about the vote-coin token price and defi incentives to appreciate the price.

The vote-coin roadmap is barely updated in more than a year. There seems to be barely any adoption of the schema except by projects that you built, even though the schema has been around for more than 2 years.

You are proposing to make a video, therefor we should look at your prior videos. They may be informative, but they are not high quality or engaging. In the one vote-coin related video that I just looked at, again you primarily talk about defi incentives, you state that you want “to make the vote-coin an arbitrage token so that everyone on Algorand, when they want to swap, they are doing it through the vote-coin”

I see you previously requested and received funding to create AMM pools related to this:
#81 VoteCoin - DAO Liquidity by Everyday Algonaut, Ludo Scholtz (@scholtz)

If you are genuinely interested in expanding the ecosystem and/or expanding awareness of voting related utilities, surely you would be primarily discussing these voting features on socials, not defi incentives to financially benefit vote-coin holders, of which you are likely the biggest?

Your tweets

@TheVoteCoin
#algofam The Vote Coin token reached all time high price today, keeping its position in top 10 project tokens in algorand ecosystem. Currently its second most traded token.

@TheVoteCoin
#Algorand VoteCoin price is over 0,02 $vote/USD #algofam

@TheVoteCoin
#algofam Vote Coin token has 1,56% of
@pact_fi TVL, in last 7 days it has provided 3,84% of all traded volume

@VoteCoin reposted
@EAlgonaut
#Algorand needs open source AMM project with concentrated liquidity: https://youtu.be/wqZYZzO059M

@TheVoteCoin
Kind reminder: If you want to maximize your earning with holding Vote Coin, you have 2 days to add liquidity to AMM pools, and you might be getting 50% APY from your vote coin balance plus additional approx 10% APY in Algos from the Algorand Foundation from governance program.

@TheVoteCoin
Vote Coin DAO has question to the community - Should we incentivize also higher yield LP pools, but with less incentivization APY?

@TheVoteCoin
#algofam … would you buy or sell #8 top ranked Algorand token?

@TheVoteCoin
#VoteCoin is almost at All time high price vs $algo. How do you like 1 bases LP AMM pools #AlgoFam ? Are you doing swaps from USDC to Algo using $vote? We are ranked now #17
@vestigefi

Anyone can check your feed here… nothing about transparency, inclusivity, efficiency, empowerment, enhanced project governance, and ecosystem growth…
https://twitter.com/TheVoteCoin

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Thanks @dolphinkitty for taking the time to do serious due diligence on this proposal.

Ludo, why should xGovs grant funds to make a video to promote your coin? Or explain how to use a project that you created years ago?

The “Benefits for the community” section is intended to describe benefits for the whole Algorand community, and those benefits are entirely unclear to me for this proposal.

It is also not clear to me how 16k Algos would be spent to make a video. I delivered a wallet library (#49 - Solid Algo Wallets) and a working app (#86 - Bonfire) for smaller amounts than this. There are also lots of free traditional and AI-powered tools to make content these days.

I’m just catching up on all the proposals now given how many there are, and this one shocks me. Help me see how this is any more than an attempt to milk the xGov program…

I would encourage the community to be vocal about tightening the requirements for the types of work which are eligible for grants (e.g. open source software) and also for submitting proposals, in terms of costs to proposers and quality requirements.

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For context:

Session 1
#9 AWallet by Ludovit Scholtz (@scholtz)
#23 OpenAMM by Ludovit Scholtz (@scholtz)
#24 VoteCoin - GitHub tools by Ludovit Scholtz (@scholtz)

Session 2
#79 VoteCoin - GitHub tools by Everyday Algonaut, Ludo Scholtz (@scholtz) (AGAIN)
#82 Prague community meetups by Everyday Algonaut, Ludo Scholtz (@scholtz)
#80 Open source concentrated liqudity AMM by Scholtz (@scholtz) - 300,000 ALGO awarded
#81 VoteCoin - DAO Liquidity by Everyday Algonaut, Ludo Scholtz (@scholtz)
#89 Invoicing service by Everyday Algonaut, Ludo Scholtz (@scholtz)
#90 AWallet scheduler by Everyday Algonaut, Ludo Scholtz (@scholtz)

Session 3
#160 - VoteCoin - GitHub tools (@scholtz) (AGAIN)
#161 - VoteCoin - Introduction Video (@scholtz)
#162 - ASA.Gold - Introduction Video (@scholtz)
#163: Biatec AMM - Milestone (@scholtz)
#164 - Prague community meetup (@scholtz) (AGAIN)

We are now seeing some of these proposals for the third time!

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Ridiculous, appreciate you complying this. Can he focus on one project and actually fully execute w attraction for once? Because I have yet to see a single working product. He is taking the Foundation and the entire community for a fool and abusing the system at this point. He is not pro-Algorand he is pro-himself.

This is why some automatic provisions and more details to filter out these useless proposals from the get-go are ought to be provided as to not waste everyone’s time/money.

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The costs associated with this xgov requests are:

Processing of the xgov proposal (writing proposal, explaining it, replying on comments… ): 5 - 20 hours
Doing video: 3 - 8 hours
Coding: 0 - 40 hours
Taking algo risk: 50% of the price

Perhaps it might be be better to have the xgov requests to be asked in EURs or something less fluctuating.

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Thanks for nice review of my xgovs proposals.

From the session 1 only #9 was approved and it was delivered.

From the session 2 the proposals #80, #81, #89 and #90 has been approved by xgovs, however the foundation signed the contracts only last week, and the partial prepayment has not yet been done.

If you want to marketize my achievements, feel free to list also the hackathons where I have won something with my teams:

Decentralized voting on Algorand, winner @ Encode Hack 2021
Decentralized Real Estate Marketplace, Overall winner @ Swiss Blockchain Hackathon
Blockchain Carbon Registry, winner @ El Salvador Bitcoin bankathon
Vote Coin @ Encode accelerator
DAO Tools, winner@ DAO Hack
ASA2ASA DEX, Overall winner @ Algo HackJam
ARC34 Implementation, winner @ Algorand Greenhouse Hack
Pro challenge, winner @ Mega ace hackathon
Decentralized bridge, winner @ ETH Prague
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Feel free to go to :

I am sorry but actually most work i do is not funded by Algorand. I would like to see retro funding for all usefull stuff i have done in my spare time for algorand.

I wonder, if you have not seen any of our products, what marketing channels shall we use to reach to people like you.

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why has this proposal even passed to voting? It wasn’t discussed here at all, wtf is this?!?

1 Like