Marching Towards Community Ownership

Good Entry Labs
3 min readDec 7, 2023

On Monday, 4th December 2023, Good Entry team launched our $GOOD to the world. This comes after we validated the conceptual soundness of protected perpetuals. The Good Entry team is a young team driven by the idealism that good vibes and good work will lead to good lives for us and the world.

Yet we are humble to realise we cannot get our product to where we want it to be without the good contributions of many many good people along the way.

To win, and really Win Big, we need the collective Good of the community.

Power of Community

One notable contributor in our journey has been coinflipcanada. During the Arbitrum STIP season, he was the first major delegate to give us his vote of confidence. This helped us gain momentum towards our results. Inspired by GMX vibes and building on this.

The power of community cannot be understated and emphasized. As we marched towards the Token Generation event. The number of rejections masterbean received was truly a cause of concern. It is the Good of the many many Arbitrum projects on the world tour that kept the project gaining momentum. Be it advisors: QCP Capital, Ouroboros Cap, 3poch. Or fellow projects: Dopex, Smilee, Tally, Galxe, Trader Joe, Camelot, Socket, so on. Or just Friends like uDAO! It led to the miraculous 39s TGE completion.

The power of Good. You just have to believe it!

Harnessing the Power of Good

Good Entry will be working with Tally to follow the footsteps of Arbitrum DAO to encourage more governance discussions and move towards community ownership. We will update once its deployed.

The Tally platform proved its utility during the Arbitrum STIP votes and projects saw a frenzy of partnerships going on by making it easier to find collaborators to get things done.

Topics for discussion will be progressively increased. The first will be the election of the 8 council members who will be apprised with Good Entry strategy and be able to weigh in. They will be appropriately remunerated for their contributions. Elections are projected to start in January 2024. New Year New Council.

We will delegate partnership token holders with voting power until their Cliff expires

As we scale we will correspondingly scale our governance infrastructure to match where we are.

Revenue share will also be a point of discussion at some point. So are the fee switches for Degen Mode which will be elaborated in the coming weeks.

Currently revenue share is not a major focus as Good Entry was prioritizing platform stability and security. Degen mode is a step towards ensuring the system is robust enough before we begin optimising for revenue generation and following that revenue share via $esGOOD token.

Where we are

Currently Good Entry is working towards Degen Mode. We have bitten the bullet and stopped all liquidity mining rewards on Good Entry v1. There are also no rewards for staking.

Good Entry will be launching season 2 of rewards optimised for Degen mode to reach stability and then scale.

Deployment is imminent.

Lets keep Shipping. One Team One Dream💚

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