ARCX as deposit for Passports

Been chatting with @kerman and @gtupak regarding the potential to deposit ARCX for the Passport (1 year lock-up for 1st ed). From a contract safety and simplicity standpoint, and to get one less specification requirement on the table for v3 launch
For the sake of simplicity in discussion, first consider an exclusive decision: either its DAI deposit or ARCX deposit

As several DAO members have informally voiced support for ARCX being used for the Passport deposit, this post is meant to come to a more clear consensus on what that looks like. A straw-poll below is meant to take the temperature in answering the question: if we use ARCX for the Passport deposit, should it be $1000 eq. at a given date or should it be 1000 ARCX (right now $600 eq.)

If you do NOT support ARCX being used for the Passport deposit, please respond below explaining why, what you would prefer, and any other concerns. Thanks!

  • Accept $1000 equivalent ARCX for Passport deposit
  • Accept 1000 ARCX (may be more or less than $1000) for Passport deposit

0 voters

Im strongly agree with holding ARCX for 1 year but can it be in farming also ?
But also its very difficult to buy exact 1000$ worth of ARCX i guess . It would be better with 1000ARCX

1 Like

I support the idea of using ARCx tokens as a deposit, although using DAI has the advantage of making it even more accessible to people, potentially increasing the adoption rate of the Passport.

From a technical standpoint, I don’t think it’s too complex to support both tokens though, so the idea of using both tokens as deposits can still be put on the table.

Good to hear you weigh in on this. This was not meant to undersell the ability to implement both.

If you say it can be done, then it can be done!

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I am supportive of this, love the thinking @monadnoc! I also agree that we need to offer both DAI and ARCx — I’m just conscious that we made a public post (current pinned tweet on ARCx page) mentioning DAI as deposit currency so want to make sure we limit any confusion at go-live for users sold on the DAI option… but perhaps they may prefer the ARCx deposit option on the day!

I fully support using ARCx as deposit for the passport instead of DAI. After all, this is an ARCx passport, not a DAI passport!

I agree that both should be used.

I also think that 1,000 $ARCx should be used, as opposed to $1,000 worth of $ARCx but people should release that if (when) $ARCx goes above $1, there will be no backsies.