As the successful LBP comes to an end, we have sold about 37.5 million $RSS3. Some have been asking us about how we should deal with the remaining part, and here it comes.
The allocation for public sale is 50m RSS3 locked in the treasury. We believe this is a perfect time for us to introduce and test flight our DAO governance.
It is always challenging to come up with a perfect plan for decentralized governing, especially at the beginning, when token holders are limited and the project is still in its infancy. Therefore, we came up with an innovative way for us to implement decentralized DAO governance, and we would love to see that dealing with remaining tokens is the first thing to start with.
There will be 10,000,000 votes this time, and here is how we want to involve important stakeholders that are critical to this specific decision-making process. Please note that the weight of the Whitepaper token may decrease in the future:
*About 37.5 million RSS3 are from the 2% ecosystem allocation that are active for liquidity. All other tokens are locked and can be verified on Etherscan.
The team, RFT Holders, and advisors have been involved in the project from the very beginning - they know a lot more about the project, and are experienced in carrying it forward. So in this governance test flight, the options are nominated by this group of people. Specifically, here are the options:
Options of The Remaining $RSS3 Token Disposal:
- Burn the remaining tokens
- Setup an ecosystem grant for ecosystem applications which will be nominated and voted by the DAO
- Create a staking pool, rewarding those who stake the token for specific periods of time
- Put the tokens back to the treasury for future decisions
We believe it is extremely important to have the whitepaper holder being an important part of the DAO governance process. The main idea here is that Whitepaper Holders are generally the core of active users from the RSS3 ecosystem, and they can, in the early days, represent the voice of the users.
Those with the token will be able to participate in the governance. Token holders in total with be having the most voting power, and since most holders got the token from the LBP, we are excited to see what you think about this matter.
We are currently busy setting up the necessary technical preparations for the upcoming governance.
Also, we are preparing the genesis RSS3 avatar NFTs for those early participants in the governance - get ready!