Tokenomics
Ratified by proposal 57
Last updated
Ratified by proposal 57
Last updated
The DAO is currently in possession of 22.7m out of 36m $SDUST token (62.97% of total supply). Originally, 100% of the supply was going to be emitted through a staking program (gemworks) based on a 1:5 ZD:SD weight ratio. This was the solution to the original ZD Solien dilemma, where originally ZD Solien NFTs had no ownership over the DAO, only membership in the DAO. Now all Solien NFTs can derive ownership in the DAO, until emissions end. After which every NFT will purely be a member of the DAO.
Of the 22.7 $SDUST owned by the DAO:
15.9m (70%) $SDUST for Staking
Approx 4 years emissions
Base Rate: 2.5 SDUST/Stardust/day
Boost: 5% increased rate per month locked
5m (22%) $SDUST for Strategic Reserves
1.8m (8%) $SDUST for Grants
The DAO will be able to grant people with SDUST, but also with Solien NFTs.
Solien NFT’s to be added to Grant Pool (107 Stardust):
3x Gold Tokens (45 Stardust)
3x Silver Tokens (9 Stardust)
3x 4 Stardust Solien (12 Stardust)
19x 2 Stardust Solien (38 Stardust)
3x 1 Stardust Solien (3 Stardust)
we allocate 8% of the DAO’s $SDUST (~1.8m tokens) towards the Grants program. The idea behind this is to allow the DAO to run itself by giving members governance tokens.
Grants will be at the discretion of the DAO, but they fall under the following categories:
Payment to those managing assets without a direct compensation schema, i.e. operating Star Atlas fleet in SAGE/ Running our Twitter/ Discord Community Management (events person etc) / Governance Manager (point person for creating/facilitating RFCS)
Payment for ongoing work in $SDUST will be retroactive, meaning after the work is done - the DAO member can make a proposal outlining what they did, how long it took, and why it’s worth the amount of $SDUST they want. Detailed time sheets suggested for approval.
SolienDAO Minimum Wage: 5,000 $SDUST/week (increased to up to 15,000/week for more technically rigorous work).
Sometimes the DAO may have specific requests for actions to be taken by its members. These include (but are not limited to) paying for ongoing costs (i.e. our new domain, hosting costs, twitter premium, discord boosts), paying for specific projects (i.e. new features on website), or paying for any other ‘contract based’ work for the DAO (i.e. protocol reviews and articles). We will pay in $SDUST for these to be completed.
For ongoing cost bounties, we will pay 25 $SDUST/ dollar spent.
For ‘contract based’ work we will pay based on how many hours the task is believed to take, decided upon creation of the contract. These ‘contract based’ bounties may also be paid out in Stardust Soliens, which can easily be priced by their floor value.
Similar to bounties, but focused more on creating engagement online.
We will use twitter bots for raids to randomly gift $SDUST or Soliens to a lucky DAO member who likes, retweets, or responds to our tweets.
$SDUST for quests made at the discretion of the Advisory Board.
Initial Budget: 100k $SDUST (can be increased with a proposal).
At a high level, the Strategic Reserves will simply be a “rolling over” of the current DAO-owned $SDUST, as to not pigeonhole us to decide the entire future of the supply at this moment. Initially we wanted to investigate seeding pools for $SDUST via the DAO, but at the moment this requires additional legal considerations. The same goes to “airdrops”, which are deposited into a user’s wallet. What we can decide right now is whether we want to allocate $SDUST to NFT holders to claim during a period before staking opens - if so how much and how does it impact the future ability for the DAO to allocate the remaining 5 million $SDUST across:
Additional NFT Lockup rewards
Additional Funding for Grants
Treasury Swap with Partner DAOs
NFT Claim Allocations
We may be approaching 2 years and see that emissions are close to being depleted, and we want to increase the duration of rewards until the DAO-membership-utility model is fully developed and operating
Pretty self explanatory, we may want to increase funding for grants if they prove to add a significant amount of value to the DAO.
Particularly within DeFi, we could make a deal with a partner DAO (random example, SBR) where we use each other’s strategic reserves to grant the other DAO veTokens from each other’s governance system, so that the DAOs have a say (and ownership) in the other DAOs proposals and rev-share (if applicable). Same can be applied to any other DeFi or NFT DAO out there, but only possible if we have Strategic Reserves.
In order to create a catalyst for engagement around the time staking begins, we could allocate an allocation to people who stake by a given date. Giving them some $SDUST to seed their veSDUST locker and get them kick-started on governance. It could be variable or fixed per NFT. I.e:
Variable: We allocate 1 million $SDUST to be allocated evenly to all staked Soliens regardless of stardust (1 NFT= 1NFT)
Fixed: We allocate 300 $SDUST to each NFT
