What’s left before the Hatch!
Latest News & Praise Leader Board: May 8 — May 21
You’ve heard it before, and you’ll hear it again: we’re just around the corner from the Hatch! We are mere weeks away and want to share with you exactly what’s in the pipeline before the TEC launch. 🚀 The final countdown has begun, and we are making sure no detail is too small or task too insignificant. ☄️ Fasten your seatbelts, and read on for more on these 5 topics:
- 📊 Params Configuration Run-off Vote 🗳️
- 🐣 Final Hatch Demo 🏁
- 💫 Unclaimed Impact Hours Entering the Ether 😵
- 🌈 Reflection on the System of Impact Hours and Praise 🙌
- 🙌 Impact Hour Leaderboard — The Praise is in! 🍭
📊 Params Configuration Run-off Vote 🗳️
First off, we’ve got the params config run-off vote, which closes next week. Be sure to take advantage of your democratic powers as part of the TEC and vote! The top 4 params configuration proposals were selected by the TEC community last week to face-off in a final run-off vote, which will end Tuesday, June 1st. Take a look at the 4 proposals on Github:
- #80 –1,000,000 Target Goal
- #81– 4.5 Membership Ratio
- #82 – 8% Hatch Tribute
- #83 – Simple Total Supply Held by Builders
Spend more time with Mitch’s comparative analysis, and join a debate party! New debate parties are being added throughout the week. Check out the TEC calendar for the latest options.
Cast your votes on Tokenlog before the June 1st SoftGov call at 7PM CET. The final, selected proposal will decide both the Hatch and subsequent DAO strategies. Don’t miss your chance to take part in the first bottom-up economy, where the power is in the hands of the community through the vote!
🐣 Final Hatch Demo 🏁
Once the voting sets those params next Tuesday, the Hatch will be tested with one final community demo to make sure everything is in order before the Hatch opens. Every community member was just airdropped 1 million testDAI to spend in this final dress rehearsal. From there, we will simulate the Hatch to validate it working according to plan.
We’re rounding the corner of the final lap with the finish line in sight!
💫 Unclaimed Impact Hours = Lost Forever 😵
✋ Any unclaimed Impact Hours will disappear forever on the first day of the Hatch.
Been around the TEC? Have you received Praise? Then you have Impact Hours! Impact Hours accumulate through the acknowledged participation of contributors in the TEC via our Praise system.
Impact Hours will be accumulated until the Hatch. Right before the Hatch begins, there will be a snapshot of Impact Hours that will be awarded during the Hatch. The rewards will only be distributed to members who have activated the Trusted Seed membership before the Hatch begins.
Be sure to join the Trusted Seed before the Hatch if you want to exchange on the value of your Impact Hours!
🌈 Reflection on the System of Impact Hours and Praise 🙌
We are humbled and delighted to share that the power of the params dashboard — built to design the TEC HatchDAO to be chosen next week — has also offered the TEC the opportunity to reflect and embark on an analysis of the Impact Hours distribution and the Praise system that generated it.
Praise is an experimental and groundbreaking system adopted at the founding of the TEC to acknowledge the valuable, yet essentially unquantifiable, contributions of the community. When contributors “dish Praise” on Discord and Telegram to other contributors for their efforts, that data is collected, and every two weeks, TEC community members are invited to partake in quantifying it, turning those contributions into Impact Hours.
Because Praise operates by turning qualitative contributions into a quantifiable number, it is naturally a subjective system that will benefit from monitoring, like most data sets. With the params dashboard in action and an initial data set, we have been able to begin a data analysis process for the first time to see how the Praise system measures up to the goals of its original implementation, namely, to the Mission, Vision and Values of the TEC and to how we intend on using it for the Hatch.
Praise is an extraordinary and unique way to support one another in the TEC community, and we welcome the analytical and community feedback that will help us make sure it lives up to its purpose.
🙌 Impact Hour Leaderboard 🙌 The Praise is in! 🍭
On that note, here are the quantified lists for this sprint’s Praise!
You have probably seen TEC contributors (including yourself!) receive Praise from others in the community through Telegram and Discord. Every two weeks, this Praise is quantified as Impact Hours, which will later be converted into TECH tokens during the Hatch. The exact value of Impact Hours will be based on the parameters chosen by the community and how much is collected in the Hatch. Each hour will be worth between $16-$182. You can see the exact ranges in the final four Hatch proposals.
Congratulations on the hard work, everyone, and thank you for your contributions to the Token Engineering Commons! 💗
Here is the full list of Impact Hours awarded for work from May 8 — May 21:
Every contribution counts, and the Token Engineering Commons is incredibly grateful for its 400+ active contributors who have earned Praise so far. 🙏 Below is a partial list of total Impact Hours to date. The full list and the math behind its calculation can be found in this spreadsheet.
Until next time: remember to vote, be sure you’ve activated your Trusted Seed membership and keep dishing the Praise!
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This article written by Suga with edits by Tam, Craig, Griff and Lívia.
