Gold-Pressed Latinum: An update for the CSC Community

By Markelele | CSC Ferengi Alliance | 28 Aug 2019


This post is meant to be a follow up post to our very first post about Gold-Pressed Latinum. If you haven't read it already, I would recommend doing so!

After publishing our first write up on Gold-Pressed Latinum (GPL) we received valuable feedback from the community. We have been working hard behind the scenes to make improvements to our use of Gold-Pressed Latinum and put the foundations in place to allow it to thrive among the CSC Community.

With these changes we believe it will ensure the credibility and legitimacy of Gold Pressed Latinum and along with it, increase the confidence of using it when interacting with the Ferengi Alliance Marketplace and when exchanging GPL for Ferengi Alliance services. 

 

With quite a high percentage of GPL holders coming from outside of the guild we assume a small portion came from when we had GPL available to exchange on UniSwap - we have since revoked all GPL and ETH from UniSwap for now as we would rather non Ferengi members would acquire GPL by selling items on the Ferengi Alliance Marketplace. 

The rest of the GPL was most likely gained from selling items on the Ferengi Alliance Marketplace - something which we highly encourage if people do want to acquire GPL going forward.

The marketplace is limited but we hope with future services offered by the Ferengi Alliance and our members, the items on the marketplace will steadily increase in the coming months and will also provide an avenue for our members to make themselves available for theses services in return for GPL.

We will revisit using UniSwap again in the future as it would provide a very quick way to gather up additional GPL when needed instead of having to rely upon selling items or offering services in return for GPL to the Ferengi.

 

1. Consolidating 99% of GPL into one secure multi-sig wallet

The first change will be to consolidate 99.92% of the GPL tokens into one multisig wallet, instead of having multiple multi-sig wallets between the leaders of the Ferengi Alliance.

Previously our plan was to do our internal ranks within the Ferengi Alliance based on GPL holdings - fantastic idea however it has been tricky to implement in practice without the risk of the marketplace being highly influenced by high ranking officers.

 

2. Appointment of 2 non Ferengi Alliance members as our external trusted GPL Auditors

Secondly and perhaps more importantly, we have reached out to two CSC commander outside of the Ferengi Alliance to take up the role of GPL Auditor. These commander will be a required signer for the multi-sig wallet. Any movement of GPL outside of the Ferengi Alliance’s multisig wallet containing all of the GPL will need to be first approved by the GPL Auditor. 

To help facilitate an easy means of communication between all signers we have a private channel on the Ferengi Alliance Discord server where Trislit can make requests for the transfer of GPL so it can be used for the Ferengi Alliance's needs.

I would like to now officially announce that the 2 GPL Auditors are Idon of the Dark Horizon and Magick of the Lords of Nibiru. Neither are leaving their respective guilds to join the Ferengi Alliance, far from it, although you could consider both to be acting as guardians for the CSC universe to ensure that every operating using GPL is legitimate.

Magick of the Lords of Nibiru released the following statement regarding the appointment.

Lords of Nibiru received an official request from the Ferengi Alliance to join in their GPL venture as a secondary/tertiary cosigner on the GPL multisig wallet.

 

Our guild is honored by the request and have reviewed the offer at length. Our official position at this time is two parts:

 

1. Our guild will accept the offer. We foresee a strong uptick in community support for GPL and are happy to assist.

 

2. As for our guild using GPL, this is not possible. This action would violate one of our core tenants, thus we are unable to join in the fun here.

 

Our guild will remain neutral on the subject of GPL as to not promote nor demote it. For the length of time GPL benefits CSC, we will remain in full support.

 

 

3. Adopting the use of SafeName.io

We have agreed in principle and have plans to use SafeName.io which is Idon's project outside of CSC. This product provides a method of identifying Ethereum Wallet activities for use in outside Fintech and business related projects. Whilst we are not making full complete use of SafeName.io right now, plans are in place and we are very excited about using this service going forward.

One feature which could be potentially used in the near future is the use of invoices. For example:

- We have a commander who has amassed an impressive supply of ore (e.g. 1M silver ore)

- They want to sell this ore for 100 GPL

- They find a buyer and add an invoice for the transaction: "Invoice for 1M Silver Ore for 100 GPL"

These are the kind of features we are excited to integrate as we know it'll help GPL and everyone who holds GPL going forward. 

 

To Summarise

There has been a lot of information shared in this write up, I've provided a quick summary of what has been disclosed in this statement in the list below:

  • 99.92% of the total supply of GPL has been consolidated into one multi-sig wallet
  • 4 signers will be added as to the multi-sig wallet
  • For every single transaction going from the multi-sig wallet 3 signatures will be required
  • This ensures that for every transfer of GPL - at least one non Ferengi Alliance member has to authorize it
  • Idon of the Dark Horizon and Magick of the Lords of Nibiru have been appointed as GPL Auditors and will approve or decline the requests to transfer GPL
  • Both have agreed to act in the best interests of the CSC game and not bring any guild conflict into this agreement
  • Only one request for GPL can be made per week - to ensure our auditors wont be spammed with requests to approve transfers
  • Reasons for extra GPL will include but are not limited to: new member bonus, referral bonuses, event rewards, given to streamers for giveaways
  • Adoption of SafeName.io

 

We are hoping this change will help build a never ending trust in GPL, knowing it will never be abused. As always if there are any questions we invite everyone to participate in discussions regarding GPL within the #public-discussion channel for it within the Ferengi Alliance Discord Server.

Thanks for reading!

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