TL;DR

Hey ALICE community. This is Wenzel Bartlett from the CodeGov ALICE neuron. There are currently 3 proposals (28, 29, and 30) that were submitted to the ALICE SNS today by neuron ID a4843e. I recommend that they all need to be rejected and will be submitting two proposals that aim to restore the state of the ALICE SNS parameters in the event that those proposals pass. This proposal will set the transaction_fee_e8s parameter to 5 ALICE. I will explain why this is important below.

Revert the SNS Parameter Changes of Proposals 29 and 30

Proposal 29 is completely false and dangerous. We need to be careful with this proposal because it would set the transaction fee to 100,000,000 ALICE tokens and the minimum neuron stake to 1,000,000,000 ALICE tokens. It's not clear why the proposer chose to change both SNS parameters, but only discuss one of them in the title and summary of the proposal. Both values are higher than the entire ALICE supply, so nobody, including the largest whale, would be able to submit proposals or create new neurons. If this proposal is able to be executed, it would brick the ALICE SNS. This risk currently exists if this proposal is executed last.

Proposal 30 would change the transaction fee from the current value of 5 ALICE to a new value of 1 ALICE. The proposer admitted to making a mistake in proposal 29. Of major concern is that both proposals are live and the one that executes last is the one that will persist. We don't want proposal 29 to be executed at all, but if it does execute it needs to execute before proposal 30 or this new proposal so we don't end up with a bricked SNS.

My recommendation is that we reject proposal 30. It is important to understand the history of how we arrived at the current fee. The transaction fee was set to 5 ALICE to ensure that the ALICE token is deflationary overall. Robert proposed this transaction fee in proposal 9, which came after he recommended the increase in the governance rewards and the max dissolve delay to incentivize long term staking. So in exchange for attractive governance rewards, the SNS agreed to accept higher transaction fees.

Having a higher transaction fee also makes it more difficult and expensive for a whale to accumulate ALICE tokens at low prices. A common method to accumulate SNS tokens is via Neutrinite vectors, which is a defi service that can use sophisticated trading algorithms to dollar cost average in a secure and systematic way over time without interacting with the trading interface. The lower the transaction fee, the more this service can micro buy to the buyers advantage. The current higher transaction fee has been in service for a while now including the entire history of the ALICE trading agent that was created by Robert (the BOB and ALICE lead dev) and funded from all the treasury transfer proposals that the ALICE SNS has approved so far. I don't think a whale should be able to accumulate ALICE tokens at an advantage over the long history of the ALICE trading agent by changing the fee.

I can't stress enough how important it is for proposal 29 to be rejected outright so we eliminate the risk of bricking the ALICE SNS. Since there is already 21% total voting power in the SNS that has voted to adopt proposals 29 and 30, I suspect that many people are voting to adopt without understanding the implications of the proposals. I can understand if people want to adopt proposal 30, but I don't think that should be done until after the idea is fully vetted by the ALICE SNS community. If you didn't understand the purpose of the higher reject fee and the goal of maintaining a deflationary ALICE token, then please consider voting to adopt this new proposal to revert the transaction fee back to the original 5 ALICE. However, it needs to be adopted after proposal 30. Since there is risk that it will be adopted before proposal 30, I will monitor the vote and submit a new proposal if needed to revert the SNS parameters. The proposal that is adopted last is the proposal that will persist.

Recommendation

I recommend that all proposals that are submitted by neuron ID a4843e should be rejected for the foreseeable future given the nature of recent proposals and the lack of transparency. In fact, any proposal that changes SNS parameters should be discussed by the ALICE community before they are submitted to the SNS. At this time, the owner of neuron ID a4843e has not revealed their intentions for the ALICE SNS, but he is a whale in the ICP ecosystem and has recently been taking over other SNS projects such as ICPCC DAO, which is now named Swampies. Let's not forget that he already tried to take ICP from the ALICE treasury with proposal 25, but it was resoundly rejected.

People are certainly entitled to buy enough voting power to take over the ALICE SNS (if people are willing to sell), but I believe the ALICE SNS is strong enough to resist a takeover attempt and to make sure we understand his intentions before we agree to adopt his proposals. If nothing else, we should make it very expensive for a whale to buy a majority stake in the ALICE SNS by carefully considering each proposal and making sure it takes a lot of voting power to obtain a passing result. Every vote counts and we need to be diligent about how we are voting. The treasury is too large and the BOB canisters (miners and launchpad) are too important to the ICP ecosystem to stand idly by and make it easy for a whale to take over ALICE. Perhaps he has good intentions for the ALICE SNS, but nobody knows at this time because he hasn't revealed anything publicly. Let's have a discussion in the ALICE community.

CodeGov ALICE Neuron

If your don't have the time or energy to perform proper due diligence on ALICE proposals before you vote, then please consider setting your neuron to follow the CodeGov ALICE neuron. We have a team of people who care a lot about the ALICE SNS and are willing to evaluate each proposal properly. You can learn more on our website at codegov.org.

CodeGov ALICE neuron: 684b658cff3dd5d92098e41ff6db53ad3bea097dd9c3d09313bc24c699d64248

You can set the CodeGov neuron as a Followee for any proposal topic you choose, but the proposal topics below are the most important.

All non-critical topics Manage nervous system parameters Set topics for custom proposals Transfer SNS treasury funds (critical) Mint SNS tokens (critical) Deregister Dapp Canisters (critical)

The CodeGov neuron vote is typically triggered based on consensus of our Followees and they need time to evaluate and vote on each proposal. Hence, the CodeGov vote is not typically cast immediately. Please be patient as we properly evaluate proposals. I am submitting this proposal from a different neuron ID specifically so the CodeGov ALICE team has time to review the details and vote independently before the CodeGov ALICE known neuron vote is cast. Hence, more than likely you will see more reject votes in the beginning. Please don't let that deter you from performing your own proper due diligence and voting yourself or waiting for the CodeGov team to reach consensus if you are following us.

Join the Alice / Bob communities at...

bobdotfun on Telegram alicedotfun on OpenChat

Thank you for carefully considering this proposal and voting responsibly.

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This proposal was created using https://ic-toolkit.app

Proposal to change nervous system parameters:

Current nervous system parameters:

NervousSystemParameters { reject_cost_e8s: Some( 42069000000, ), neuron_minimum_stake_e8s: Some( 600000000, ), transaction_fee_e8s: Some( 500000000, ), max_proposals_to_keep_per_action: Some( 100, ), initial_voting_period_seconds: Some( 345600, ), wait_for_quiet_deadline_increase_seconds: Some( 86400, ), default_followees: Some( DefaultFollowees { followees: {}, }, ), max_number_of_neurons: Some( 200000, ), neuron_minimum_dissolve_delay_to_vote_seconds: Some( 86400, ), max_followees_per_function: Some( 15, ), max_dissolve_delay_seconds: Some( 252460800, ), max_neuron_age_for_age_bonus: Some( 36288000, ), max_number_of_proposals_with_ballots: Some( 700, ), neuron_claimer_permissions: Some( NeuronPermissionList { permissions: [ Unspecified, ConfigureDissolveState, ManagePrincipals, SubmitProposal, Vote, Disburse, Split, MergeMaturity, DisburseMaturity, StakeMaturity, ManageVotingPermission, ], }, ), neuron_grantable_permissions: Some( NeuronPermissionList { permissions: [ Unspecified, ConfigureDissolveState, ManagePrincipals, SubmitProposal, Vote, Disburse, Split, MergeMaturity, DisburseMaturity, StakeMaturity, ManageVotingPermission, ], }, ), max_number_of_principals_per_neuron: Some( 5, ), voting_rewards_parameters: Some( VotingRewardsParameters { round_duration_seconds: Some( 86400, ), reward_rate_transition_duration_seconds: Some( 110460672, ), initial_reward_rate_basis_points: Some( 690, ), final_reward_rate_basis_points: Some( 420, ), }, ), max_dissolve_delay_bonus_percentage: Some( 900, ), max_age_bonus_percentage: Some( 400, ), maturity_modulation_disabled: Some( false, ), automatically_advance_target_version: Some( true, ), }

New nervous system parameters:

NervousSystemParameters { reject_cost_e8s: None, neuron_minimum_stake_e8s: None, transaction_fee_e8s: Some( 500000000, ), max_proposals_to_keep_per_action: None, initial_voting_period_seconds: None, wait_for_quiet_deadline_increase_seconds: None, default_followees: None, max_number_of_neurons: None, neuron_minimum_dissolve_delay_to_vote_seconds: None, max_followees_per_function: None, max_dissolve_delay_seconds: None, max_neuron_age_for_age_bonus: None, max_number_of_proposals_with_ballots: None, neuron_claimer_permissions: None, neuron_grantable_permissions: None, max_number_of_principals_per_neuron: None, voting_rewards_parameters: None, max_dissolve_delay_bonus_percentage: None, max_age_bonus_percentage: None, maturity_modulation_disabled: None, automatically_advance_target_version: None, }