[encointer] introduce swap options for businesses through democracy #541
Conversation
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
acatangiu
approved these changes
Jan 14, 2025
4 tasks
|
/merge |
joepetrowski
approved these changes
Jan 14, 2025
|
Enabled Available commands
For more information see the documentation |
fellowship-merge-bot
bot
merged commit c5e9f58
into
polkadot-fellows:main
48 of 49 checks passed
bkontur
reviewed
Jan 17, 2025
| @@ -1,6 +1,6 @@ | |||
| # This file is automatically @generated by Cargo. | |||
| # It is not intended for manual editing. | |||
| version = 4 | |||
| version = 3 | |||
There was a problem hiding this comment.
pardon, that was a glitch. I did that locally to not worry about upgrading my tools
There was a problem hiding this comment.
actually, version = 3 is the latest, so the question is why was there 4? :D
There was a problem hiding this comment.
haha. ok. that explains why I couldn't upgrade
3 tasks
Sign up for free
to join this conversation on GitHub.
Already have an account?
Sign in to comment
Add this suggestion to a batch that can be applied as a single commit.
This suggestion is invalid because no changes were made to the code.
Suggestions cannot be applied while the pull request is closed.
Suggestions cannot be applied while viewing a subset of changes.
Only one suggestion per line can be applied in a batch.
Add this suggestion to a batch that can be applied as a single commit.
Applying suggestions on deleted lines is not supported.
You must change the existing code in this line in order to create a valid suggestion.
Outdated suggestions cannot be applied.
This suggestion has been applied or marked resolved.
Suggestions cannot be applied from pending reviews.
Suggestions cannot be applied on multi-line comments.
Suggestions cannot be applied while the pull request is queued to merge.
Suggestion cannot be applied right now. Please check back later.
This introduces new functionality for Encointer communities:
Motivation
In order for community treasuries holding KSM to act as a reserve for community currencies, we need to enable some form of swap functionality. This functionality, however, needs to be permissioned, as we can't allow everyone to "exit" the demurrage-bearing community currency as this would undermine the community currency and deplete the treasury for no good.
Businesses making real turnover in community currency, however, should have an option to reduce their exposure. Otherwise, the most popular businesses will be punished by bearing the greatest risk by accumulating community currency before economic circles can be closed (which will eventually allow them to spend their community currency on goods and services they need).
The best available source of information which businesses add real value to the community is the community members. Therefore, we let the community vote on swap allowances for businesses using Encointer's personhood-based democracy process.