Right now, the CCMOON DAO does not have an Officer Code of Conduct, but we are looking to draft one and put it towards a governance vote.
One of the tricky areas to navigate is officer's trading on privileged information.
We wanted to get community input on how this should be handled?
Things to consider
- Officers are usually first to know when they will be a big purchase of moons through advertising efforts
- Should officers have a "holding period" after buying moons before they are able to sell?
- if yes, should the size of the purchase play a role (ie treat $10 buys and $1000 buys the same or different)?
- Selling moons - is it acceptable? What are the conditions for selling is bad news is coming?
- Anything else you'd like for consideration
Definitely the selling part is the bigger issue. This is what happened when Reddit did their sunset. Some mods took the money and ran and severely hurt our brand.
As SevereArrivals stated earlier in this post, it is honestly impossible to regulate anyone from buying or selling in this space. However, having a code of conduct is still needed.
Personally, I don't care about the buying part. If one of the officers get wind of a large purchase or purchase for burn, go ahead and buy up more Moons. But when it comes time for selling, I think they should declare their intention to sell a month ahead of their sale, especially if it is a large amount, like 100K+ Moons. Something along these lines.
As mods/officers, the intention for them in these roles is the long term health of Moons - not the earliest opportunity to cash out. This is where trust in the token is achieved and where 99% of all other crypto fails its base users.
Easier said than done, but I appreciate the code of conduct for the DAO. And as always, I thank our mods/officers for doing all they do for Moons. There really is a bright future here.
Realistically, this can't be avoided as every officer can buy/sell Moons on independent addresses without anyone knowing or just use Kraken, which makes things very incognito.
Best we can do is make sure that the least number of people possible know about it and choose the right officers for the job, which will act with higher decency.
Agree it’s impossible to fully police, but I do think some rule is good to say what we stand for
Disclosing the number of Moons held by each officer in the Moon week post would be cool I guess but again it relies on trust.
Another thing that could be implemented is that every Moon bought needs to be held for at least a month before selling maybe.
Hey Timmy, keep up the good work dude. It's a nice idea to have a general code of conduct, to show what you all stand for.
Almost all these ideas are mostly unenforceable due to the nature of crypto and decentralisation, however I do have a few thoughts/ideas.
Moons earned from community participation could be locked in a smart contract so you have an unlocking period before they could be moved/sold. Basically how staking contracts work on some DPoS chains with unstaking timers.
I've thought a few times about getting a moon staking contract made, but never had enough motivation to pull the trigger.
Re trading based on inside information, that may be enforceable/punishable by the local laws where mods live. It's a stretch, but something you all should be mindful of for your own personal protection.
I don't think Moons earned from community participation should be locked at all. We shouldn't diminish community involvement. Locking earned Moons will only get people upset.
You misunderstand me mate. This idea of delaying sales/locking tokens was only for the mods, and about them not acting on inside information.
The only moons we know they have are the ones they transparently earned (or added to that same wallet).
Ah got it. I would even go a step further. Reddit admins were doling out hundreds of thousands of Moons to the OG mods when Reddit controlled them and when Moons had an infinite mint.
I would like to see all these Moons get locked up and only released when a mod announces a sale. Once they say they are going to sell, and once they say how much they are going to sell, then they go through a month-long releasing period.
One of the main issues we have with a major portion of our community not liking Moons is the fact that OG mods received huge swaths of them a few years back. It was Reddit's way of thanking them for their assistance as mods and regulating the platform and promoting Moons. But now, with Moons hard-capped and several OG mods owning the lion's share of Moons, it has rubbed a lot of people the wrong way. And rightfully so, they now fear large dumps based on insider information.
If the mods really believe in Moons long term success, then it shouldn't be an issue for them to include this in their code of conduct. Under the proposed code of conduct, mods should:
1) Identify the amount they received from Reddit admins when Reddit controlled Moons
2) Lock all these Moons
3) Let the community know their intention to sell and the amount they want to sell
4) Wait for the unlocking period to sell (I propose a month)
If we really want a good chunk of the community back and excited about Moons again, the OG mods should make this proposal a part of their code of conduct.
Actually sounds cool and would strengthen the community trust in the project.
Hopefully it can be done.
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As we could se during the sunset we can only trust those who didn't sell their Moons.
Some Mods sold them like 1 minute after the announcement, which is insider trading as well.
It will happen again...