In consultation with: Jai, Jack, Sharad, community input received in Sustaining the DAO long-term
Signalling in favour of:
2.5M RGT mint into DAO treasury now
intent to use this primarily as allocations for taskforces over next 3 years
7.5M RGT linear mint into DAO treasury over 3 years (2.5M RGT / year)
intent to use this primarily for liquidity mining over next 3 years
can also be used for other things if needed
Timelock the RGT minting contract for 3 years
2.5M RGT mint on-chain
Execution in 1-2 months:
7.5M RGT linear mint on-chain
Timelock RGT minter for 3 years
Make more precise plans for the 7.5M RGT
On-chain automation of above plan as much as possible. May or may not includes include gauges, profit-sharing, hack victim compensation and so on. All subject to future discussion and DAO appoval.
Tokenomic structure decided in October 2020
1.25M RGT under 2 year vesting for founding members
8.75M RGT used for aggressive liquidity mining campaign soon after the launch of Rari, has long completed, currently all owned by community
RIP-1 proposed in December 2020
Link to RIP-1
Mints 10M RGT
Got voted on but never executed
New discussion started over RIP-1 in August 2021
Sustaining the DAO long-term
Received valuable community feedback
This proposal being posted today. Intent to finalise ASAP.
Mostly covered in Summary
We wish to aggressively expand and gain more full-time as well as part-time contributors. We have gained a number of contributors now who are being paid on salaried or grant basis from a rapidly diminishing treasury. Transitioning any of them into full-time roles requires vested RGT allocation. This is urgent to avoid losing any of these members.
Sharad - now leads all frontend work for Rari
Samuel (myself) - leads risk for Fuse pools, contributor management, assists with strategy
Contracts - Sri yantra, Veil, Zac, ??
Bizdev / marketing - parogia, cryptofameboy, more community mods, derectum, ??
Frontend - Nosedrop, Zane, 100X, cryptickoan, Gautham, ??
Other potential taskforces:
Market XYZ - led by Rahul and Erik, atleast 8-membered team
tornado clone for Rari users - anon team of atleast 3 members (to be announced)
Rari stablecoin - Kirk and others (to be announced)
We do not wish to do multiple mints as that leads to uncertainty in the minds of RGT investors. We'd rather formalise one clear long-term RGT tokenomic plan. What we can have is multiple allocation votes and decisions over already minted RGT - as new contributors are onboarded and new projects (taskforces) are spawned off the Rari Capital DAO
We wish to do liquidity mining, however have not finalised the liquidity mining plan today. Once finalised we wish to automate it on-chain as much as possible to avoid uncertainty and human discretion (after it is approved). We also don't yet have audited code for the long-term inflation or specific liquidity mining plans. This will take 1-2 months.
For: Approve this plan
Against: Back to the drawing board