can someone point me to the tokenomics ?
CodeGov KONG Neuron ID: 7c9b2c9a34256de9915767af6af0b57d7754059f7a2dc7b3dfd114ad4d553cde
Website: codegov.org - KongSwap
Hello KongSwap and ICP community. I am announcing that CodeGov will create a CodeGov KONG neuron as soon as the token launch is complete and a CodeGov neuron is created. The intent of this CodeGov KONG neuron will be to offer a reliable option for KongSwap SNS neuron owners to consider following. The neuron ID will be announced here and in the KongSwap OpenChat and Telegram social channels.
A core CodeGov mission is to advance decentralization of governance participation the ICP ecosystem. We have been successful on the NNS side of governance by seeking grants to pay developers to review technical proposals and so far our contributions seem to be well received by the ICP community based on the voting power that we trigger when we vote. People have found that we are a reliable Followee option that always votes on every proposal in an educated and intentional way and we specialize in some of the most important technical topics. CodeGov recently created a neuron for the WaterNeuron SNS as well. It started as a way to replicate votes from NNS proposals to WTN the proposal topic called Vote on NNS Proposals (we built a vote relay canister). However, since then we have also put together a list of recognizable and committed people within the ICP ecosystem who have committed to voting on Motion proposals and all Critical proposals for the WaterNeuron SNS. These folks are unpaid, but they are known to be champions of decentralization and are highly respected in the ICP ecosystem.
My goal is to offer the same option for KongSwap SNS neuron owners. At this time we will focus on Motion and Critical proposals only. This includes Treasury Transfer, Mint SNS Tokens, and Deregister Canister. Even though the Manage Nervous System Parameters topic is not considered Critical, we are also committed to voting independently on that topic because of itâs high importance. In the event that we find funding to review technical proposals in the future, then CodeGov will also hire skilled developers to provide this service. In the meantime, the CodeGov KONG neuron will follow the KONG dev team on all technical proposals. Hence, if you choose to Follow the CodeGov KONG neuron on all proposal topics, then you will maximize voting rewards and contribute to the decentralization of the KONG SNS.
For anyone who is not aware, there is no default following when SNS neurons are created. You must actively choose a Neuron to follow in order to start receiving voting rewards (or vote on all proposals manually). You also need to know that Critical proposals are not included in the All Topics catch all category. However, you are able to follow other neurons on these Critical proposals. (Many people, including at DFINITY, think you cannot follow other neurons on Critical topics, but this is not true. The changes that were implemented when Critical SNS proposals were created is to simply separate them from All Topics, but to allow Following). Hence, if you want to maximize voting rewards on any SNS, including KongSwap, then you must either vote manually on every proposal or set a reliable Followee for All Non-Critical Topics, Motion, Treasury Transfer, Mint SNS Tokens, and Deregister SNS Canister. I highly recommend also setting a Followee on Manage Nervous System Parameters. All other topics technical topics fall under the All Non-Critical Topics catch all category.
This will be an interesting experiment given that there was one very large participant in the KONG token swap. My hope is that they intend to vote independently and possibly make themselves known as a Followee option. Regardless, the CodeGov KONG neuron will be here as an option for anyone who wants to consider following someone other than the KONG team. There is nothing wrong with following the KONG team. They are very well respected and have produced a great product. The Followees for the CodeGov KONG neuron are not participating in order to compete with the KONG team. We simply believe that decentralization of SNS projects should be a high priority and we have decided to commit to trying to advance decentralization for the KONG SNS. We hope our participation is well received by the ICP community.
The CodeGov KONG Followees will be updated on the codegov.org website as the participants change over time. Feel free to check the website periodically to learn who is currently configured. The initial participants will be Chris MntYetti (@Cris.MntYetti), Saratoshi (@Sormarler), Bjoern Tackmann (@bjoern), and Andrew Chepreghy (@chepreghy). This list of Followees will likely grow and may eventually include up to 15 Followees. If you are interested in participating as a Followee on these topics for the CodeGov KONG neuron, then please send me a DM and you will be considered. I am looking for people who are recognizable in the ICP community and who are known to be independent voices who always engage in a diplomatic and civilized way, even when you raise concerns in public. You also need to be interested in the KongSwap SNS and willing to commit to always be aware of new proposals and willing to vote independently.
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Thank you very much, @wpb. I think this is a great initiative! I really appreciate the work you and CodeGov are doing, taking hands-on steps to increase voting decentralization for the NNS and SNS.
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Hey KongSwap community. Congratulations on the successful launch of the KongSwap SNS. There are a few things everyone should know in order to begin preparing for KONG SNS governance, especially if you want to maximize voting rewards.
(A) Configure your neurons with Followees on the topics listed below (unless you plan to always vote manually)
- Transfer SNS Treasury Funds (critical)
- Mint SNS Tokens (critical)
- Deregister dApp Canister (critical)
- Motion
- Manage Nervous System Parameters
- All Non-Critical Topics
Your neurons will not vote in their default state. SNS neurons are configured by default to follow your neuron with the longest dissolve delay on All Non-Critical Topics, but that neuron is not configured to follow anyone. Critical proposal topics and the Motion proposal topic do not have any default following at all, but you can set Followees. Hence, you must decide for yourself who to follow and configure your neurons with Followees that you believe will vote reliably and with your best interest in mind. You can set any Followee for any topic. You can also set more than one Followee for any topic. The latest discussion on SNS critical proposals and default following can be found on the forum here and the latest discussion regarding SNS voting rewards distribution can be found on the forum here.
(B) Known Neurons in the KongSwap SNS
- KONG Dev Team neuron ID: 8493928f6a5fe63b7e84c53e900e795c090b51ece721ce7ffe0278f0ace04eff
- CodeGov KONG neuron ID: 7c9b2c9a34256de9915767af6af0b57d7754059f7a2dc7b3dfd114ad4d553cde
An announcement regarding the CodeGov KONG neuron can be found here.
(C) SNS voting rewards are distributed to everyone who votes proportional to their voting power. If you donât vote, then you donât get voting rewards, and your voting rewards will go to the people who did vote. The APY for voting rewards is unknown since it is not know who will actually vote, but the SNS is designed to mint 2.5% of total KONG in existence every year to distribute as voting rewards. If you donât set Followees for all the topics listed above (and you donât vote manually on all proposals), then you will likely be giving up voting rewards. This can be substantial in the early days of the SNS before everyone gets their neurons configured with trusted Followees.
(D) Ballots are created the moment a proposal is submitted, so if you donât have your neuron configured before the proposal is submitted then you wonât vote via liquid democracy (you still have the option of voting manually). The KongSwap team has announced that they are ready to ship some big changes next week that they have been working on over the last 2 weeks. Itâs time for the KONG SNS to make some governance decisions, so please be ready by setting up your neurons now. Previously the dev team was able to push updates for the KongSwap app almost immediately. However, now that KONG is an SNS it will typically take longer. The minimum voting period for most proposals is 4 days and it is 5 days for critical proposals. The only way changes can happen faster is if they pass by absolute majority (greater than 50% for most proposals and greater than 66% for critical proposals). Hence, if the community wants to see changes happen quickly, then we need to be ready to vote.
The information provided above is intended to help everyone get involved in the governance process for the KongSwap SNS. Please make educated and intentional decisions with your vote and with your Followee selections. Letâs go KongSwap!
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