One of the first governance topics we need to discuss is the metric we use for assessing the market value for labor. I propose that the pseudo-stable price point of the liquidity app should be the standard for assessing labor.
Here is an example:
Assume a developer is usually compensated at $60 USD per hour, but is willing to work for PSF tokens. The pseudo-stable price point is 200 tokens-per-BCH, but the actual exchange rate is free to fluctuate.
In this situation, I propose the developer would be compensated at $60 per hour based on the market value of 200 tokens-per-BCH, subject to the market price for BCH.
Assuming the price of BCH is $200/BCH, the math would look like this:
60 $/hr X 1 BCH/$200 X 200 PSF/1 BCH = 60 tokens per hour
This is in contrast to paying them at the current market-price of the token, which will fluctuate, based on the liquidity app. This math would be:
60 $/hr X ? tokens/$ = ?
The value of the token would be in-flux, due to usage of the liquidity app, and could be manipulated over short-periods of time.
By compensating labor based on the pseudo-stable price point, it greatly simplifies the compensation and ensures all parties are being paid fairly, while still respecting the market-value for their labor.
Chris Troutner Sun 15 Sep 2019 4:53PM
An additional 1000 tokens was minted today and sent to the same wallet. I was getting conflicting information from SLPDB that the minting baton had been destroyed. It was not the case. I was able to successfully mint another 1000 tokens and the minting baton is still alive.
Andrew Goslin Sun 29 Nov 2020 6:10PM
How account management verify? Memo.cash only place "minted" PSF?
Poll Created Sun 29 Nov 2020 6:20PM
Pairing Closed Thu 31 Dec 2020 6:02PM
Global Trade Unit (GTU/PSF) token pair- listed when my site moved from weebley to wp and ( plugin) used for trsfing-
|Results||Option||% of points||Voters|
0 of 1 people have voted (0%)
Chris Troutner Mon 30 Nov 2020 12:02AM
Hey @Andrew Goslin. We aren't really using Loomio for communication. We thought it would be a good fit, but it never really turned out that way. The Telegram channel is the primary place for communication:
Andrew Goslin Mon 30 Nov 2020 12:14AM
Thanks for the heads up, wind east north east, she's solid vessel, black flags below deck, marshal island flying to port -pass vie Colombian coast! Viva libre!!
Chris Troutner · Sun 15 Sep 2019 1:52AM
Today I minted 10,000 PSF tokens and sent them to a wallet controlling address:
These tokens will be used to reimburse developers contributing the PSF, who log their work as ovn.psfoundation.cash. I'll try to send tokens at the end of each month.
For now, the pseudo-stable price point in USD will be calculated based on the current market price at the time of distribution. Developers will be reimbursed at the rate of $60 per hour at the pseudo-stable price point, not at the current market value of the token.