Stardust
A unique, on-chain, multi-faceted governance marker.
Stardust is the lifeblood of the DAO. It takes three main forms:
Stardust (NFT Metadata)
$SDUST (SPL Token)
veSDUST (Voter Escrow balance)
This section will describe them at a high level, for detailed tokenomics read here.
Stardust (NFT Metadata)
Stardust was originally conceived as a way to make the NFTs with 'rarer' attributes have more utility within the context of the DAO and governance.
The idea was originally that NFTs with zero stardust (AKA ZD Soliens) would be members of the DAO but not owners. Members can do things like rent NFTs from us, and receive any utility to DAO members (such as access to pre-sales), but they could not vote or claim ownership over any assets of the DAO.
Below is a table showing the distribution of Stardust across our various NFTs.
Soliens NFT
4019
2097
Bronze Tokens
300
300
Silver Tokens
150
450
Gold Tokens
50
750
Samurais
3
9
Galileos
10
N/A
Total
4532
3606
A more granular view of Soliens NFT's Stardust distribution below:
0
2340 (59%)
1
1290 (32%)
2
271 (6.8%)
3
61 (1.6%)
4
18 (0.45%)
5
2 (0.05%)
Total NFTs
3982
$SDUST (SPL Token)
The native token of the SolienDAO, $SDUST, is a decentralized governance-based token that only has power when locked (and non transferable) as veSDUST.
After a period of turmoil, a DAO owner-member proposed a system which gave ZD Soliens 1/5th the value of a single 1 Stardust Solien. We implemented our first iteration of staking with this 1:5 ZD:SD ratio in mind.
The DAO has spoken: Every NFT will generate $SDUST.
We used Gemfarm (since discontinued) to make sure that every ZD had a weight of 1, and every Stardust on a Stardust Solien would have a weight of 5. We had variable rewards per NFT, meaning that total emissions at every epoch were the same, but would be split among whatever NFTs are staked according to the relative weights of different staking accounts. So if you had 1 ZD and 10 Stardust total, you have a weight of 51, and if the only other person staking at that moment had 1 Stardust. You get 51/56 of the SDUST rewards while they got 5/56 of the SDUST.
The DAO is not setting up a market for $SDUST. Users may trade it P2P at their own discretion, but it's trade will not facilitated by the DAO.
veSDUST (Voter Escrow Balance)
Our on-chain DAO system of choice is Tribeca, which utilizes the Locker, Governor, and Smart Wallet programs (all relevant parameters can be found here). We primarily chose to go with Tribeca because of it's ability to enable non-transferable token balances, which are critical to our DAO at this stage.
Users are able to deposit $SDUST into the Locker program, and based on the amount of $SDUST and the duration of their lock (anywhere from 7 days-5 years) users are given a decaying virtual voter escrow balance. This balance decays until the timer goes to zero, at which point your veSDUST balance = $SDUST in locker, and you can either lock again or claim your tokens back into your wallet. The mutliplier ranges from 10x for a 5 year lock, to 1x for a lock which has ended.
In the example above, notice that the previous veSDUST balance was 6.49, based on 1 $SDUST having ~3 years left on it's lockup. Once you add 10 tokens and increase lock duration, you increase the lock for the new tokens you deposit, but also the old tokens that were already in the Locker. Which is why the new balance is 110 = [(1+10) * 10].
veSDUST voters have the final say in the DAO's decisions.
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