CIP-5: Enable Swapping of vCOW to COW

i fully agree with this proposal, well done!

2 Likes

where can i vote ?
there will be some form because I do not understand

2 Likes

同意,cowswap是我和我朋友一致认为的好项目

I’m not sure I agree with this proposal. I’m pretty sure we are all aligned on that we want CoW swap to succeed and $COW to be tradable and fly. But to do that, I really believe that we need to discuss the utility we are gonna give to the token. Otherwise it’ll just become another useless defi governance token, and we know what happened to those.

8 Likes

I like the idea but it would be nice to wait till moment that token has some utility.

4 Likes

how to make a vote?
lets make vcow tradable on cowswap

1 Like

My view on this; locked vCOW tokens (vesting) represent even a higher commitment to the future of CowDAO and CoW Protocol than vested vCOW or liquid COW tokens.
For this reason I think CowDAO should develop a snapshot strategy which will enable voting for COW as well as vesting and vested vCOW on both mainnet and Gnosis Chain.

This way all stakeholders can express their views in CowDAO governance.

4 Likes

Giving full voting power is what I would like (ignoring all implications), nevertheless I have some concerns on this option.

  1. Many may be tempted to sell part of their airdrop (if not all since it isn’t vested) as soon as possible keeping half, or more, of the voting power. In my case I have a bit more vCOW vesting than from the airdrop.
  2. New participants may have less reasons to buy COW Tokens since their voting power is diluted into something already well defined. In my opinion full vesting power is great for early participants (Team, Investors, …) but not that great for market dynamics (mid to long term).

Something that may counter this concerns would be giving enough voting power to early participants but also keeping the market interested. This can be achieved giving voting power (to vesting Tokens) proportional to COW Circulating Supply. Let’s say, vesting Tokens never account for more than 50% of the voting power. Just an idea to work on.

Also, I totally agree with the idea that it’s more relevant to make some decisions on how the COW token can be used than it is to make vCOW token transferable. CowSwap is an amazing “tool” and COW tokens can/should make it even better. For instance why not giving as soon as possible (e.g. 2 weeks after COW starts trading) the possibility to use COW tokens to pay fees and/or get a discount on the trading fee?

Sorry to move a bit outside of the main topic but I can’t think about making vCow transferable without considering the implications of not doing anything else with COW (besides voting, we can do that with vCow without making the token transferable).

8 Likes

Agree to this proposal!

1 Like

I hold very small amount of vCow. But I think this is good for the community. Let’s go ahead.

1 Like

Great idea. Let’s do it

We are good to go, cool idea

yes, let’s do it))
yas, lets do it.

Let’s unlock the full magic :star2:

sounds great, I can’t find a negative side of this because protocol (as product) isnt very new. Redemption will open a community for users without airdrop and better promotion

i like cowswap ,cow to the moon

But other use cases for $COW token other than governance should be proposed in my opinion

4 Likes

Hi everyone !
Thanks @netrunner for the first proposal :love_you_gesture:t4: !
Like you, I’d love to be able to trade or send my $COW token but I don’t think that it is the right time to do it.
As some have said it, we should first focus on the utility of the token not the transferability even though having the power of vote on a protocol like Cowswap is great I think the price of the token will probably suffer.

@middleway.eth made a good point when she says that it is a commitment when users have taken the “risk” to purchase more vCOW, and for that I think that they should have the possibility to vote.
However @prometheus is right when he says:

To counter this concerns even if we don’t know what would be the utility of the COW token yet, what we could do is to make sure that the only utility of the vCOW is to vote, and not enjoy the futur rewards of the COW token (for example staking or fee discount).

As I said it above having a bit of power is cool but having rewards is better.

It’s one of my first intervention in a DAO so hopefully it has been useful otherwise be clement.

3 Likes

I fully agree with this proposal, sounds great!

I find this comment interesting. This token launch is having so many steps, complexities and waiting periods, which we understand as they are necessary. However, crypto users are not used to this kind of processes. I personally know several users who have lost interest and lost track of the project as they can’t have an estimate of quantities and dates.

I suggest to the team to facilitate an estimated trading date or a clearer roadmap so users, traders and investors can commit capital and attention to the project.

2 Likes

This came out quick as was expected