Regen Network Community Pool
Accessing community funds for planetary regeneration
At the genesis launch of Regen Network, a community pool that receives funds from token inflation in the form of a two percent tax was established. This means that if the current inflation is 20%, 2% goes into the community pool and 18% goes to the rest of the network. The community pool has been untouched for almost an entire year and contains approximately 2,440,697 REGEN, which at the time of writing is worth more than $1 million USD.
How does one gain access to the funds in the pool? As with most things within Regen Network, someone wanting to gain access to a portion of the pool must petition the community through our governance process using the governance guidelines below.
- Discord Discussion
- Soft-Proposal and discussion on Commonwealth forum
- Provide a minimum 1 week of discussion
- Official On-Chain Proposal
- Promote on social media, Regen Discord, Regen Telegram
A Short Word On Governance
Governance within the Cosmos ecosystem and specifically Regen Network is one of the most valuable tools a blockchain can possess. Governance allows stakeholders to make decisions which directly affect the way the chain operates. Over the past year many of our stakeholders and validators have participated in the governance process which included proposals for software upgrades and parameter changes.
As a stakeholder, one of your most important duties is to vote on the way your chain operates. This can however be a daunting task considering many of the previous governance proposals have been very technical. Luckily, the Regen Network validator set is technically competent and understands the intricacies of technical proposals. For this reason, if any of the steps outlined below are confusing or seem overly complicated, any of the Regen Network validators can help you submit your proposal. You can easily find validators in our Discords validator channel.
Petitioning for Funds
As mentioned above, you will need to go through the governance process to gain access to a portion of the community pool funds. You can see this medium blog post to gain a better understanding of the process outlined here:
When beginning the process, you will want to have a solid use case for the funds and a good understanding of how the funds will be used as the community will be very interested in this information. Additionally, please provide a transparent team bio. The community will want to know who you are and what credentials you have so it is a good idea to have a website which includes a team bio and a clear description of the project.
Discord — Introduction
The first place to start this process is in our Discord server where much of our community lives. Introduce yourself there, give an overview of your project, reach out to other community members and make yourself available for questions. Our community is filled with a variety of members with varying skills where you can find scientists, software developers, farmers, and a number of other humans interested in planetary regeneration.
This step is one of the most important ones when petitioning for funds from the community pool. The community will want to chat with you and may even be interested in helping out. I highly encourage anyone requesting funds from the community pool to engage with community members on Discord and once you feel you have rallied enough support in the server you can move to submitting a soft proposal on the commonwealth forum.
Commonwealth Forum — Soft Proposal
Submitting a soft proposal on the commonwealth forum is a necessary step in gaining support for your on-chain proposal. This is where you will receive the majority of questions and input from the community stakeholders and validators who will eventually vote on the proposal to either accept or reject your request for funds.
After logging in to the commonwealth forum you will want to navigate to the proposal discussions category. Once there, you will find discussions pertaining to previous and ongoing proposals ranging from signaling proposals to full software upgrades.
Please take a look at these proposals to get a good understanding of how to format your soft proposal. At the very least, you will want to include the following sections in your proposal:
- Project Introduction
- What you are proposing AKA how many funds you are requesting
- Transparency commitment
- Links to budgets and other accounting documentation
- Link to project website
- Team member bios
- Any other useful information
Let’s make things official! Once you feel comfortable with the above steps, feel you have reached a soft consensus and refined your proposal, it’s time to submit it on-chain. The commonwealth forum provides an interface for submitting the proposal, if you are interested in using commonwealth for submitting your proposal, skip to the next section. The following section will focus on a more technical way of submitting a proposal, beginning with installing the Regen Ledger binary.
sudo apt update
sudo apt install build-essential jq wget git -y
tar -xvf go1.17.1.linux-amd64.tar.gz
sudo mv go /usr/local
Configure your shell
echo “” >> ~/.bashrc
echo ‘export GOPATH=$HOME/go’ >> ~/.bashrc
echo ‘export GOROOT=/usr/local/go’ >> ~/.bashrc
echo ‘export GOBIN=$GOPATH/bin’ >> ~/.bashrc
echo ‘export PATH=$PATH:/usr/local/go/bin:$GOBIN’ >> ~/.bashrc
# use this new bashrc configuration
Clone the regen-ledger repository:
Change to the regen-ledger directory:
Check out the latest stable version:
git checkout v3.0.0
Install the regen binary:
Check to make sure the install was successful:
You should see v3.0.0 printed to the console. Now that you have successfully installed the regen binary, the next step will be to add a couple test accounts
Next you will need to add your wallet, assuming you have your mnemonic seed phrase. Just to note, this wallet and cli is stored on your local machine and the wallet will be secured with a password in the next step. Run the command below replacing <walletName> with a name of your choice.
regen keys add — recover <walletName>
Now that you have added your wallet address, you can perform different actions such as checking your balance, viewing your address and most importantly, submitting a proposal!
There are different types of proposals that you can submit using the governance module, however we will specifically focus on submitting a community spend proposal. This type of proposal, if passed, will send REGEN tokens to a designated wallet so make sure you have a wallet set up ahead of time. The governance command we will use requires a json file to be submitted which means we will need to create a separate file called prop<number>.json. In our example we will use prop1.json which can be viewed below.
“title”: “Community Spend Proposal for Regenerative Project”,
“description”: “Here’s who we are, here’s what we are asking for and here are links associated with this proposal and project.”,
Our prop1.json example includes a title, description, recipient, amount and deposit, each of which is required except the deposit field. The deposit field is a part of the governance function which moves the submitted proposal directly into the voting period and is not required when submitting this type of proposal but is useful to get the ball rolling immediately and allows us to skip a step. Next, follow the steps below to create the json file and save it to a directory called proposals.
Inside of prop1.json you will want to add the prop1.json example above and edit the title, description, recipient and amount. The deposit is 200,000,000 uregen so that field is already correct in our example. Once you have entered the information for your json file, hit ctrl-x and y then enter to save.
Now that we have the proposal json configured, let’s move on to actually submitting the proposal on-chain. To do this, simply use the cli command below and edit flags that are specific to your wallet.
regen tx gov submit-proposal community-pool-spend ~/proposals/prop1.json — from <walletName> — chain-id regen-1
Congrats! If you followed all of the steps correctly and submitting the proposal did not produce any errors, your proposal should be live on-chain. It may take a couple of minutes to reflect on the mintscan explorer but once you have submitted your proposal you can check mintscan to see your proposal on-chain.
Submitting a proposal via the Commonwealth forum
Commonwealth is a powerful tool used by many projects in the ecosystem because of its robust user interface and easy connection to the blockchain of your choice. Commonwealth is the second stop when creating a proposal and is a useful tool for reaching consensus when using it for your soft proposal described in an earlier section above.
One of the exciting features of Commonwealth is that you are able to submit on-chain governance proposals without the need for complex cli commands. The following steps will show you how to create your official on-chain community spend proposal.
After successfully logging into the platform using the keplr wallet option you will be presented with the dashboard. On the left hand side you will want to find the Proposal link inside the governance section. Once you have done so, you can click “New Thread” and then “New On-Chain Proposal’’ to begin the process.
The next step is to actually create the proposal. Please note that there are 5 boxes you must complete, the first one being the type of proposal, in this case choose community spend proposal. Next fill the title and description boxes, since you should have already created a discussion thread you should be able to simply copy and paste the text, along with any modifications, directly into the Description box.
After you have entered the title and description, please enter the deposit amount (at the time of writing the Regen Ledger requires a 200,000 uregen deposit for submitting the proposal), recipient and the amount you are requesting. Once completed you can click send transaction and sign it using the keplr popup.
Congratulations! You should now be able to submit an on-chain community spend proposal using both the Regen Ledger command line and the commonwealth forum! We look forward to the network enabling community projects for planetary regeneration.