Author: Samuel
In consultation with: Jai, Jack, Sharad, community input received in Sustaining the DAO long-term
Summary
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
Execute now:
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.
Background
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.
Abstract
Mostly covered in Summary
Motivation
Motivation 1
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.
Salaried:
Sharad - now leads all frontend work for Rari
Samuel (myself) - leads risk for Fuse pools, contributor management, assists with strategy
Grantees:
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)
??
Motivation 2
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
Motivation 3
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