PIP01 - Establishing foundations for future growth

Author

@hariseldon2

Summary

Establish some basic foundational elements which will allow greater transparency for the community to start taking ownership of the project

Abstract

If adopted this proposal seeks to:

  • Establish transparency around who holds the keys for swap fees 0.05% revenue
  • Establish what these fees will be used for
  • Formalise and make publicly available the current figures

Motivation

Evolve the fair launch

  • Pangolin has established a fair launch and started building an engaged, passionate community, however certain aspects of the direction are still unknown or poorly understood
  • Transparency will ensure greater engagement and help prevent unnecessary conflict within the community

Specification

Currently for the month of February 2021, the 0.05% fee’s earned from Swap fees was $133,767.28

If we look at the current rate of volume we can see the estimated yearly Revenue Pangolin will earn from Swap Fees (@ 0.05%) is approximately $2.5 million USD

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I’ve shared the Google Sheet link below for anyone interested in the figures:

https://docs.google.com/spreadsheets/d/1QMMfwxL5RHJJ6n-rqRSASmobo6s96LYNfo6f8p3Ekbk/edit?usp=sharing

Currently we have no idea who holds the keys to the account that receives these fees. This proposal seeks to gain clarity and transparency into who holds the keys.

The next step of the proposal aims to establish what these fees will be used for. I have put together an example budget within the Google sheet under the “Profit & Loss - Budget” sheet

Please note this is not a recommendation! It is purely for illustrative purposes

This proposal aims to open up debate on to what these fee’s should be used for.

Then finally, I’d like to propose this Google Sheet is used to track the Budget as well as the Profit and Loss of Pangolin until we can come up with a more elegant solution. I’m happy taking ownership of this function if the community agrees to it.

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foundation and empire

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You can view most of this from Pangolin’s factory contract.

Check out the following parameters and their current values:

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This is where the 0.05% fees would be sent. If this address is the zero address, 100% of fees are being deposited into pool and therefore to LPs.

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This is the address that has permission to change the feeTo address mentioned above and therefore has the ability to enable this feature.

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