New questions for FAQ

[virgile-dev]

Hey guys,

I had a great conversation with @medied last friday, shooting questions at each other related to the IRO. They might be good to add to FAQs ? What you guys think ?

Will it connect to Sovereign ?

Right, that’s the plan going forward. Sovereign should be able to talk to these contracts somehow so that data is actually stored in the blockchain. How we store it, what we store, how Sovereign actually connects to the smart contracts, that’s all part of the dev that’s still to be done.

if so the vote token is an ERC20 token, so no new blockchain right ? VOTE transactions will be kept track in ETH ledger right ?

Right, ERC20 token that would go in the Ethereum mainnet

How is the VOTE tokensale related to the smart contracts you are writing ?

The smart contracts I’m working on are for the actual voting, what Sovereign would allow people to do. For the ICO itself, we actually don’t need to have these contracts ready per se. I don’t know the tokensale entails exactly (that’s where OpenZepellin comes in), but basically what’s needed for the tokensale is a way to handle transactions of everyone who is buying in (so not related to voting). Does this make sense?

When new org, new member, new topic = new smart contracts ?

Right, similar to object-oriented programming, every contract is an ‘object ’ that can do things (functions) and know things (data variables)

Is sovereign meant to be a SAAS software or more of run your instance thing ?

My understanding is that it will open for anyone to run their instance.

To set up an org will you have to spend votes ? (I mean pay in any way ?)

Currently in the dev environment (with testrpc) when we create an org, at the very minimum, gas needs to be paid to execute on the mainnet. I actually don’t know the exact answer to your question right now, what it means to set up an org, what it cost exactly when we come down to the technical details. But yea gas needs to be paid somehow, I understand, and how or who pays for that is part of the learning we still have ahead.

What happens with the Votes purchased during the IRO? Aren't people with more financial power be more powerful?

If buyers get a valid POI they will be able to use these votes to participate in organizations they are part. The E (Equality) variable of the Vote dripping formula makes sure that everyone stands equal in the network. People purchasing Votes at our IRO will be helping directly Democracy Earth and its contributors to build sovereign and the Network accordingly.

[medied]

These are raw answers, we might need to edit for better readability

[virgile-dev]

Of course

[virgile-dev]

@santisiri @herbstephens what's your take on this one :

What happens with the Votes obtained through the IRO? Can holders use them to vote on issues ?

Some folks I'm discussing with argue that they shouldn't be able to vote. Here is a list of Votes usage I thought of.

Purchase votes should / can :

• Finance organization creation (cause it's gonna have a cost on the network)
• Be used to validate new members through POI
• Be hold as a crypto asset.

[paula-berman]

I made a pull request with most of these (edited) to our FAQ file! =)

[santisiri]

@virgile-dev i think that attaching economical value to the vote makes the token relevant. as per the utility, i think that any ERC20 token should be used to fuel value of the native votes generated. I'm still not sure how, I have a couple ideas that we can talk on friday in our dev-call.