[Proposal: MB11/MR8] StakeGlmr.com and StakeMovr.com V2 - Treasury Proposal

Governance Treasury Proposals
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21

I am supportive of this proposal

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Is there anything else to discuss before making the proposal?

Also, @jose.crypto should we too revise the token estimates to use the 30-day average?

Do we need to submit any company paperwork?

This is our first time making a treasury request, so, we are still figuring out how this process works!

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just to clarify @stakebaby , the required amount will be split into 2 proposals after the milestones are delivered, right?

if that’s the case, we can make the on chain remark, and do the proposal with the corresponding amount at that time

so there is no discrepancy in the amounts

Wdyt @aaron.mbf @mtca @dev0_sik

25

Sounds good to me. I thought that the chain remark had to be in GLMR and/or MOVR and that it could not be in USD.

For voting, I assume I should make only one remark. Should it be on Moonbeam or Moonriver?

Also, doesn’t the remark have different voting mechanics? i.e. aren’t the voter bodies different? That could create issues, for example

  1. remark is not voted as yay even though the treasury committee would have voted for it, or
  2. remark passes now, but the treasury committee rejects the payment on delivery
26

as I have thought it is

you make a proposal to the Treasury for 1glmr , and when we pass the proposal to motion of the treasury council, the comment on chain of the double milestone post payment is added

the step of the proposal, should be done after at least 3 committee members have commented in support of the proposal (here in the comments)

For now I think it would be possible like this, for now wait for @aaron.mbf or @dev0_sik to confirm if it is possible , to be done of this way

the remark on chain, is to make it clear that the payment has already been taken into account and accepted, simply that it will be done after the delivery of the milestones

27

Hi @stakebaby - thank you so much for your team’s great work and the detailed proposal. I also use StakeGlmr and StakeMovr and find it super helpful.

I appreciate the fact that you would only expect payment upon delivery of the milestones but the problem with not having a fixed amount of GLMR now is that, in theory, there would be no upper limit to the number of GLMR that could be due if there was some kind of crazy collapse in the market. (Obviously that’s kind of far fetched, but nevertheless, a risk.)

Given that you are a well known team in the ecosystem and given the detail and professionalism that went into putting together your proposal, my suggestion would be to pay up front for Milestone 1 and then for your team to request a Milestone 2 payment (again, up front) once Milestone 1 is completed.

This would mitigate the risk I mentioned above and also would give the community more confidence in paying for the second milestone after the delivery of the first.

What do you think?

3 Likes
28

Thank you for your kind words Aaron. That’s fine too. I will actually convert to USD right away (and take the loss from the moving average) to ensure there are enough funds to pay Abdullah for all the frontend work. So, we will be able to deliver, whatever happens to the market.

As a sidenote, I have discussed the architecture with Temporal.io and it looks like we have a good grasp on how to put together a maintainable and durable indexer. Can’t wait to put it to work.

1 Like
29

Im good with this too, im support this proposal

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If you are ok with this approach, please update the post with the payment terms.

So change this part to reflect the approach:

We propose two payments, 50% of the GLMR and MOVR total amounts on the delivery of M1, and 50% on the delivery of M2.

ie. that you are currently proposing funding for M1 and upfront payment and will post a new proposal for M2 once M1 is delivered (of course, you can reference back to this post):

Perhaps you should also update the token amounts with the latest 30 day?

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31

Fully supporting this proposal in my role as treasury councilor and in my role as poweruser of stakeglmr and stakemovr :sunglasses:

2 Likes
32

Hey all, I support the proposal as well!

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With the changes commented by aaroon above, it should be fine to continue with the on chain proposal, remember to use the ratio 80 GLMR/20 MOVR, and the last 30d average price

1 Like
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Looks like Binance only does 7d and 25d so I had to use the Coinmarketcap price feed. 30d ma is 0.35697954 for GLMR and 7.889724578 for MOVR. Excel attached.

https://stakeglmr.com/downloads/GLMR_1M_graph_coinmarketcap.xlsx
https://stakeglmr.com/downloads/MOVR_1M_graph_coinmarketcap.xlsx

Updating the proposal above and moving on with the on-chain proposal.

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Hey sir good @stakebaby

You can modify the amounts and clarify that this proposal is only to cover the expenses of the M1, when the m2 proposal is to be made, it should be in a new post, where you can referr to this

thank you

36

I added a clarification next to the amounts.

Moonbeam part (total for M1 and M2): $35,840:

100,397.91 GLMR, based on MA(30): GLMR: 0.35697954 (Coinmarketcap)
This proposal concerns only M1, which is 50% of the total, that is 50,198.95 GLMR

Moonriver part (total for M1 and M2): $8,960:

1,135.65 MOVR, based on MA(30): MOVR: 7.889724578 (Coinmarketcap)
This proposal concerns only M1, which is 50% of the total, that is 567.82 MOVR

Also edited the descriptions in polkassembly.

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Hey guys, I really don’t mean to be ungrateful here, and I know these things take time; but with this volatility and trend, and 20% down from MA price already, we are feeling some pressure. So, the sooner we receive the funding and hedge the risk, the better! Thanks in advance.

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Hey @stakebaby - sorry for the delays you experienced during our process.

After the new runtime was applied we couldn’t close the council motions like before and tech team had to chopstick around to get us updated parameters.

I just closed your MOVR and GLMR motions.

1 Like
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lol as if they owe you something I would vote no I don’t see what you bring to the ecosystem all this money for information on staking…

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Its my job to ensure that the project will be successfull. I dont feel personally comfortable pressing, but its my responsibility to put aside feelings and make sure we deliver whether below or over budget.

I respect your opinion on stakeglmr’d utility. I hope you find the new platform more useful.

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Progress Update

Frontend - 70% of HTML done, 50% converted to SvelteKit app.
Backend - 100% of orchestration logic done, 100% of block indexing, 100% of EVM indexing + ABI decoding, 30% of pallet time-series indexing

Development is on track and we are introducing a few exciting features including AI-enabled blockchain data queries. This does mean it will take us more time to deliver, but the wait is well worth it!

7 Likes