Trx. Id: 382014075b9a1edcca62105191fad673a84d29c4ee0bcf265de3cdb45943e840
Expiration Time: 2022-08-19T16:35:36.500
ACTIONS
| CONTRACT | NAME | AUTHORIZATION | DATA |
|---|---|---|---|
| works.decide | draftprop | telosclearbp active |
proposer : telosclearbp description : On May 5th, 2022, the initial Telos FORCE Protocol - an algorithmic stable coin based on the Vader Protocol - was successfully submitted to the WPS system - for 50K TLOS. The price of TLOS at that time was around seventy cents ($.70). Then, the Terra LUNA crash started on May 6th. By May 13th the price of LUNA had fallen over one hundred dollars to less than one cent. Over the following two weeks, with the greater crypto market in a sort of shocked daze, we began to rethink the decision to use a fork of Vader Protocol - which incorporates Terra?s algorithmic stable coin technology - as the foundation for Telos FORCE. After extensive discussions within the FORCE DAO team and larger Telos (including WPS) communities, we have decided to pivot to a collateralized model for FORCE?s FUSD stable coin. Even though our development team had already completed the first substantial milestone (Submitted June 1), they agreed to stick with us and re-scope the project, which has expanded in size. So Telos FORCE decided to scratch the Vader fork and use the Maker DAO collateralized lending protocol, with its DAI stable coin - the longest standing collateralized stable coin in crypto - as the foundation for FORCE?s system. To see the full version of the proposal, please visit: https://medium.com/@rich_downing/telos-force-requires-a-re-up-20de0cf41b7f proposal_name : telosforce.1 title : Telos FORCE Re-up category : apps milestones : 1 total_requested : 200000.0000 TLOS content : {"imageUrls":["https://api.dstor.cloud/ipfs/QmSqto6M42iTW2hrCfLKdFEeAc97TzkFSXd8JNA6EVvgK5"],"milestonesData":[{"amount":"200000.0000","displayText":"Total Due Upon Delivery","description":"To protect the Telos token price, the FORCE development team has graciously agreed to accept payment upon deliver of a fully working product.\n\nThis will include a full fork of the Maker lending, borrowing, saving interfaces, as well as the associated DAI stable coin system, reskinned for FORCE, and supplemented with a robust incentivized dollar cost average purchasing feature. "}],"contentUrls":["https://api.dstor.cloud/ipfs/QmYQMTVGnLtnhNo9ZtTZicBYozBo2txrVnHK1PGRZKANu7"]} |