Now that the IndieDAO community has officially launched its governance token and initial project efforts, it’s time to design a transparent system for awarding $INDIE tokens to contributors according to the value they provide to the DAO.
Upon DAO launch in October 2021, we bootstrapped the initial token grant of 1M $INDIE (out of a 10M max supply cap), issuing tokens to each member according to the following parameters:
- 1 point per hour contributed to past projects
- 10% bonus of other Indie’s hour points that each Indie referred
- 10% bonus of other Indie’s hour points that were applied to each sales Indie’s project
- Points were tallied, and the 1M token grant was issued to all who opted in, in proportion to their points
This Season 0 genesis allocation was primarily issued to 2C members that helped make the launch possible.
Season 1 and beyond will begin to pivot towards more significantly allocating tokens to active members of IndieDAO, the Indies taking the DAO to the next level each season.
The IndieDAO treasury holds the privilege to mint 9M remaining $INDIE tokens, for future use in tracking contributions and ecosystem partner projects. This proposes a season-based approach to minting new tokens, and allocating to Indie contributors, as detailed below:
On January 1st, 2022, the IndieDAO treasury (0x762C0cefBdC51D3ca0553b81792D82fcA96EF7a3) will mint the remaining 9M $INDIE tokens to itself, such that it can distribute tokens using transfers instead of minting, and such that the max supply cap is transparent on integrated tools.
Each season will last 3 months, allowing for a quarterly season structure to continue in perpetuity. $INDIE allocations will be issued at the end of each season. The current Season 1 will end December 31st, 2021, and Season 2 will begin January 1st, 2022.
Season 1 will conclude with a 250,000 $INDIE allocation, base points distributed as follows:
Syntax | Description |
---|---|
125,000 (50%) |
2C
|
62,500 (25%) |
Level Protocol
|
25,000 (10%) |
Community Call Participation 100% distributed to participants on a meetings attended pro-rata basis Eligible calls:
|
12,500 (5%) |
Discord Participation
|
12,500 (5%) |
IndieDAO Launch
|
12,500 (5%) |
Advisors
|
Point bonuses will be applied as follows:
- 10% bonus of other Indie’s total points that each Indie referred
- 10% bonus of other Indie’s 2C points that were applied to each sales Indie’s project
Point bonuses will slightly dilute the base point values above, then the 250,000 $INDIE will be distributed proportionally to each Indie’s total points for the season.
This proposal requests permission for the IndieDAO treasury to mint remaining tokens up to max supply cap, and grant 250,000 $INDIE to community members for their contributions during Season 1 (from October 1st, 2021, to December 31st, 2021). Data will be rolled up, approved in a secondary proposal after January 1st, 2022, then token actions will occur before January 31st, 2022.
Approve Season 1 - $INDIE Allocation Proposal, allowing the IndieDAO treasury the right to mint and distribute $INDIE in accordance with this proposal?
Yes / No