CIP-5: Enable Swapping of vCOW to COW

What time does voting start

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Edit (09.03.2022): The proposal has been updated to reflect a concrete proposed code implementation for CowDAO to execute, and some additional details to consider.

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lets go for it, market conditions is good

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sory sir , i want ask when w can participate on governance ? sory if im ask at wrong place

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Letā€™s move this to a vote!

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Yes, agree! Note though, the proposal says:

Before execution, the code will need to be updated with the final amount of vCOW that have been claimed and will be eligible for swapping. This will be known by 25.03.2022 when airdrop claims will officially end.

The exact time the airdrop expires and hence the amount of needed COW will be known is 25.03.2022 8:05PM GMT. As the execution of this proposal also requires some deployments, it makes sense to ensure its execution date falls on a week day (and preferably not on a Friday night). Hence IMO it makes sense to move it to snapshot beginning of next week (21.03), then 7 days later it can go live if it passes successfully.

Could you please confirm it is tomorrow and not in one week?

Yes, I think you are correct.

The claiming period ends in 6 weeks (so 6 * 7 * 24 * 60 * 60 = 3628800 seconds). The block timestamp that the vCOW token was deployed on is 1644609915, so if my calculations are correct, it officially ends on:

Fri Mar 25 2022 20:05:15 UTC

So the once we get the first block after timestamp 1648238715, all claim amounts should be final.

I think what @Anna is referring to here, is that if we start the snapshot tomorrow at 8:05PM GMT, and given that it is open for 7 days, then once the snapshot vote closes we be guaranteed to know exactly how much vCOW is needed in order to adhere to this part of the proposal:

the code will need to be updated with the final amount of vCOW that have been claimed and will be eligible for swapping

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yes ,yes and yes. time to the moon

yess cows , waitin for a long time

It will definitely help to increase usability if liquidity incentive is provided.

Yes I think this is right decision :+1::metal:

well doneļ¼ŒI like this decision

Yes yes yes cow swap huge coin

LFG, excited for more people to use the platform.

Exactly! Updated the post to not be confusing.

A lot of people ask me when it will be possible to buy $Š”oW for staking or a trading fee discount. 2 votes were successful passed. So I think weā€™re ready to vote for unlock.

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Just trying to wrap my head around the above statement: will this topic be a seperate discussion here in the forum and subsequently a tangent proposal to this one (this thread) ā€¦ or?

The current proposal is including an update on the governing rights already, see this paragraph:

Changes to CowDAO voting

As of now, CowDAO is governed by vCOW token holders. Assuming no changes to governance rules, COW token holders will not be able to vote on future proposals.
It is proposed to change CowDAOs governance rules and adapt its snapshot space to count both vCOW and COW as valid for voting on CowDAO proposals.

Wdyt about this?

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ah, thank you for pointing this out to me!

I have read through the comments and different opinions here in this thread (about this particular talking point).

In general, Iā€™d say that ā€œyou got to invest something, to gain somethingā€. I am a layman when it comes to weighing pro/contra of taking directions for a DAO like this, but I tend to feel that governance rules set up as is are preferable.

What I also feel is that such a decision might have future implications which need be considered to weigh the options; first and most importantly, such a decision should always consider the benefit to the DAO as a whole, not individual interests. Thatā€™s what Iā€™m thinking.

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