CIP-5: Enable Swapping of vCOW to COW

[Van_Haals]

Let’s do it this will definitely encourage interaction and will be good for the community

[Bider15]

Haw we becomme price for vcow or cow if its change???

[Berry]

I regret to express my opposition to this proposal. Whilst many would like to begin trading of COW as soon as possible I think we have other priorities.

Firstly we do not yet have an agreed upon Governance mechanism. This takes time and consideration to put together.

Secondly we have yet to decide on any value capture mechanics (tokenomics).

These two concerns are on top of what has been mentioned in terms of the claim period.

It is a given that we will make this decision eventually but launching without a clear way forward could present the danger of too many sellers without value buyers coming in.

[netrunner.eth]

Hi everyone, a draft CIP has been proposed to address some of the excellent points and ideas raised in this forum. Please check it out. As always, your feedback is wanted and necessary.

**Please note, there will be further CIPs to come to address token Utility. Thanks! **

CIP-4: COW liquidity incentive program

CIP: 4 title: COW liquidity incentive program author: @netrunner.eth, @middleway.eth status: Active created: 2022-02-17 requires: 1. CIP-draft: Enable Swapping of vCOW to COW Update 31/03/2022 Vote passed with 37M votes in favour (1.7M against) and has been executed. Details available on cow.eth Snapshot here Update 21/03/2022 This proposal has been moved to the voting phase. Voting is available on cow.eth snapshot here Simple Summary The purpose of this CIP is to gather support within…

[kongwen212]

非常支持这个提案，就让我们一起见证 CowSwap再次走向成功！

[Anna]

@indiana

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.

Thank you for this feedback! In your opinion is the main concern that the token is not tradable (yet) and there is no clear date associated to when it might become tradable? Or was this more of a general feedback on lacking public insights into CowSwap’s roadmap?

[CryptoReek]

I’m here for this proposal. Written well and thorough.

[squidz]

While it is good that we are seeing active participation, I cannot support this yet. As many others have already said, we still do not have a value oriented tokenomics design or clarity on our governance process. We should discuss and determine those first before this goes through.

[KZFlyer]

I vote for this. Let the process begin!

[Domik20]

I am usually against similar actions, but I think currently this question is irrelevant because its short period (few weeks) and no negative impact will be created. But I agree with you about fundamental questions. Maybe we can open new thread for that?

[jacket_chen]

请问在哪里可以将vcow置换成cow？管理员解答一下，谢谢

[kanrublev]

When will it be possible to vote?

[indiana]

@Anna

Thank you for this feedback! In your opinion is the main concern that the token is not tradable (yet) and there is no clear date associated to when it might become tradable?

Yes, this is the main concern. We are happy with the team and the product. Some of us have been capital ready since september, ready to buy, market-make, stake or whatever the community decides we can do.

With a trading date people can organize its time and commit capital to engage with the community, but now some of us are tired of waiting periods, just waiting for the next CowDAO tweet or asking me twice a month for updates

[netrunner.eth]

Thanks @indiana. You raise lots of interesting points. I suspect that in order to prove that this is truly a community owned DAO everything has to be proposed and agreed upon by the community.

In regards to trading it’s more like a chicken and egg scenario. Trading $COW tokens is not possible unless it is redeemed (vCOW → $COW). Upon redemption there needs to be an underlying liquidity pool for traders to use if we want $COW to have any appreciable value. In order to facilitate this, we should encourage Liquidity Providers (LP) to take on risk providing the necessary liquidity (COW<>ETH/WETH/USDC Pools, etc) by compensating them with $COW tokens. This is why I suggested the following CIP to compensate LP’s in order to jump start this process.

• CIP-draft: Should CowDAO Distribute $COW to Liquidity Providers?

People also want to see utility, which may drive demand for the token and incentivize trade. This is why the following two CIPs were raised. Please see:

• CIP-draft: Trading Fee discount for $COW holders
• CIP-draft: CowSwap Grants Program (CGP)

I believe it is in the interest of the DAO to iron out these details prior to $COW redemption, to give it a good start.

[xiangguacheng]

wonderful project! i wish this project will develop better and better!

[prometheus]

@netrunner.eth

Trading $COW tokens is not possible unless it is redeemed (vCOW → $COW). Upon redemption there needs to be an underlying liquidity pool for traders to use if we want $COW to have any appreciable value.

We don’t know if this is an issue at all… don’t forget - GIP-13 (Phase 2): CowDAO and COW Token

It is expected that not all options will be leveraged. The COW Tokens that are earmarked for investment options but not leveraged, will be used for liquidity incentives of the respective token pairs: COW tokens not bought by GNO Token Holders will be used to incentivize a COW<>GNO pool; COW tokens not bought by Cow Protocol Traders will be used to incentivize a COW<>ETH pool.

So far many claimed the airdrop and didn’t use their investment option. If we keep this ratio, we may end up with more than 20m unclaimed vCow for liquidity incentives meaning we may not need more incentives.

[Bider15]

I need to move my vcow in another wallet…somebody hack in my trust wallet…so i need to moving my vcow.whenn will be this posible?thanks

[72v3jgr]

Proposals should have a rough schedule rather than an endless wait.

[72v3jgr]

@netrunner.eth

I believe it is in the interest of the DAO to iron out these details prior to $COW redemption, to give it a good start.

It’s been too long, and now the market is very bad, users have lost the confidence to wait, and it’s useless to do anything.

[Billion]

Good point

@prometheus

So far many claimed the airdrop and didn’t use their investment option. If we keep this ratio, we may end up with more than 20m unclaimed vCow for liquidity incentives meaning we may not need more incentives.

This is a very good and valid point indeed, but yea we’ll have to wait