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Armagan
@armagan
wake up anon! Circles’s Deployment Ceremony is waiting your participation! Details here: https://forum.aboutcircles.com/t/open-deployment-ceremony-for-circles-v2/603 And don't forget to add your contribution here: https://hackmd.io/@benjaminbollen/SkXX1RUkJx/edit You should do so from now, till latest Sunday.🔔 If you want the “hub” contract to have a nice address like (0xc12c1e5) generate your own here https://github.com/TaoistWorld/Vanity-ETH-Contract-Address-Generator/
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Dan Finlay 🦊
@danfinlay
What’s new in v2?
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Martin
@koeppelmann.eth
Circles is still Circles. Core ideas are still the same and there is a migration. You can continue your identity and turn all your v1 CRC into v2 CRC. Technically: * CRC are now 1155 instead of ERC20 * many accounts in v1 got permanently frozen - v1 had a strict rule that if you don't mint for 90 days your account it frozen forever (can not mint anymore). In v2 the rule is different - in v2 you can never get permanantely frozen (unless you actively do it yourself) but you can always only mint for the last 2 weeks. * Important addition: groups!! You can now form groups (a contract (DAO, multisig, ....) can define a set of members) members can turn their individual tokens into "group tokens". Those are now fungible. In v1 we had 120k account and thus 120k different ERC20. This made it basically impossible to have CRC on a DEX. Group tokens can be wrapped into ERC20 and we expect those to be traded on DEXs. Here is the developer release: https://app.aboutcircles.com/
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Dan Finlay 🦊
@danfinlay
Groups sounds neat, but I’m not sure I follow how it works. Users opt their tokens into a larger group’s tokens? Does the user still mint them? Does the group have to accept the proposal? Can I go turn my CRC into the CRC of a group that’s doing well on a DEX?
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Martin
@koeppelmann.eth
so you will always mint "Dan CRC". But groups can add you. If you got added to e.g. 3 groups you have the option (or more precise anyone who holds "Dan CRC") to convert Dan CRC into any of those group CRC. So group CRC are always meant to be backed 1:1 by individual CRC but they essentially allow to take e.g. 1000 people and create 1 fungible token for them.
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Martin
@koeppelmann.eth
So, yeah, if all those 3 groups would have liquidity on DEXs you (or some routing algorithm/ pathfinder) would only use the "most valuable". So the value of your individual CRC is defined by the most valuable group that allows you to mint their group CRC with your personal CRC.
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Dan Finlay 🦊
@danfinlay
Is this equivalent to having a CRC coin managed by a dao?
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Martin
@koeppelmann.eth
Yes, that’s a good way of framing it. There will be passive groups where the DAO essentially just attest specific crc but there can also be active groups where the DAO only lets you in if you contribute in some form to the value of the DAO CRC.
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