Early Voting Begins
My fellow $GME holders, it is getting near to the time where we must perform our sacred civic duties and conduct the first community vote in GameStop.Finance history. Because the bootstrapping period has not yet ended, we are lowering the requirements for a new proposal to 100 $GME and the quorum for a valid vote to 1,000 $GME. This will be updated after bootstrapping ends. Any $GME holder can propose an analysis and it can be on any token and be a short or long or neutral thesis or a thesis of some other kind. Our civic space on Snapshot is now open. The possibilities are endless.
Some people have criticized the price of $GME and for that I have a response. This token was meant to be a valueless governance token and was given out to community stakers for free in the name of inclusion. We wanted to give power back to the people instead of making profits for whales. For those who speculated on the token and purchased it outright, we will do everything in our power to heal your wounds. We believe that if our community bands together and proposals and announcements are made that there will be a rising tide that lifts all boats. Any benefit that $GME whales receive will trickle down to even the lowliest $GME holders.
I have often spoken of a thousand points of light — a multitude of $GME holders. We will work hand in hand and go forth as community organizers, leaders, or sometimes followers. We will be rewarded for this with $GME. We will work on this in our Telegram, in our Discord, and enact programs and policies on our Snapshot. I will ask every member of our community to become involved. The old ideas are new again because they are not old, they are timeless: duty, sacrifice, commitment, and a patriotism that finds its expression in taking part and pitching in.
Voting Structure
Please see previous blogs for details about the bootstrapping farming period. View our Snapshot space here: https://snapshot.page/#/gamestopfinance.eth
We want to hold rounds of weekly voting for new proposals. The winning token will be the only staking asset for a period of one week following the end of the previous period. For example if $YFI wins the inaugural round of voting, $YFI will be the only staking asset on GameStop.Finance for one week. During this time, people will make new proposals and voting will end before $YFI staking does. The winning token from that period will be the next staking token.
To propose a token or analysis for the community to vote on you must hold 100 $GME. To vote on the proposal you must have held $GME during or before the block number when the proposal was submitted. This means you cannot buy huge quantities of $GME to influence a vote, you must have already held it.
Proposal Creation Guidelines
Please follow these guidelines and rules. If your proposal does not follow these guidelines it may be hidden from voters or the results may not be accepted.
- Go to GameStop’s Snapshot space.
- Click on “Connect wallet” button in top right corner.
- Connect with wallet provider where you hold at least 100 $GME.
- Click on “New proposal” button at the project homepage.
- Fill out the Title.
- Fill out the large text field with your community proposal.
- Select the YES & NO as the two voting options.
- Now go to the “Actions” box.
- Select the start date. For the inaugural round of voting it can be now, for future rounds you must start at least 84 hours before the end of that week.
- Select the end date. For the inaugural round of voting it can be one week after the start date. For future rounds please choose 84 hours after the start date.
- Please use the default (current) Snapshot block number.
- Click on “Publish” to create the proposal.
- Sign the message via your wallet and you are done.
How to Vote
- Go to GameStop’s Snapshot space.
- Click on “Connect wallet” button in top right corner.
- Connect with wallet provider where you hold $GME.
- Click on the option you want to vote for.
- Sign the message via your wallet and done.
Voting Schedule (all times 04:00 GMT)
- Inaugural vote: Now until Feb 14
- Week 1: Feb 15 to Feb 22
- Week 2: Feb 22 to Mar 1
- Week 3: Mar 1 to Mar 8
- Week 4: Mar 8 to Mar 15
- Week 5: Mar 15 to Mar 22
- Week 6: Mar 22 to Mar 29
- Week 7: Mar 29 to Apr 5
At the conclusion of 7 weeks of voting and 8 weeks of rewards we will organize as a community and decide the future of the project. A GameStop.Finance DAO is likely if community participation is high.
Timelock Update & Explanation
The community has been crying out for an update regarding the timelock of the 500,000 $GME tokens held for future staking rewards. We have implemented a timelock but it is not standard. You can see proof of this here: https://etherscan.io/tx/0xcd5426618786b5495824c6657e6a85031620f2e0b9556d815ad59beee859ffca
The way our timelock works is we call propose after the community votes on a new single asset staking pool and liquidity pool. The contract will emit an event and part of the tokens will be prepared to be unlocked in 12 hours. Then, after waiting out the 12 hours of timelock, we will call execute to actually unlock the tokens and then distribute to move the funds to be rewards for the new pools.
We cannot call execute without calling propose first and we have not called propose yet and have no intention to until the first vote is completed. At present, the staking and liquidity pool addresses are set to zero. We cannot change them without waiting out the timelock. The contracts are written such that only 1/8th of the 500,000 $GME can be unlocked and transferred each time.
We ask for your understanding. We are trying to build something novel and create the first ever decentralized community of traders and analysts using tools that people understand. The plumbing between them can get a bit awkward but we strive to be 100% transparent and are open for suggestions.
Community Updates
$GME has been listed on DODO and Harvest.Finance has started farming on our $DSD and $ESD pools. We have been listed on CoinGecko and our TVL broke $130m less than 24 hours after launch. We reached number two on the rankings of trending projects on DEXTools. Thank you for all of your support. The $GME community is the most amazing community in crypto and it will only get better.
Let’s make crypto great again.
Follow Us
- App: https://GameStop.Finance
- Twitter: https://twitter.com/GameStopFinance
- Discord: https://discord.gg/JKVKhXWpM6
- Telegram: https://t.me/GameStopFinance
