Audio. 2021-10-27_aladdindao_weekly.m4a - Google 雲端硬碟
Minutes:
Community Strategy by paulp
3 main focusses.
Outreach
- AMA calls to protocols proposed by the Boule
- AMA in influencer channels
- Twitter space updates on the community weekly
- Reach out to other DAO’s that are potentially interested in AladdinDAO
Product
- Media and Documentation on all new product and token economic development.
- Information on yield/token dynamic and implementation timeline for all protocols voted.
Community Engagement
- Develop financial incentive mechanisms to involve community. Coordinape, Booster reward system etc
- Creation and curation of memes relevant to Aladdin, pertinent to current market dynamics and themes
- Transparency of AladdinDAO’s vision, roadmap and operations important. Guidelines required to better enable new contributors to onboard and provide meaningful value. Add transparency on what tasks need to be done?
Changing limit for voting for Boule members - Martin
Proposals - Vote on forum has been initiated.
- Limit is no longer 4 votes per month for Boule members voting on new protocols to integrate.
- Potentially add a neutral vote function. This will help with collection of data for voting/governance process of the Boule.
Work on compensation for core contributors - Martin
- 30-40% compensation with tokens is industry standard. Vesting is included.
- Boule members get significant tokens completely unvested.
- Can include a tax? where if people distributed tokens, have to pay, say 50% tax if you wish to liquidate.
- Compensation plans include token allocation. If token goes down heavily, token allocation increases dramatically. Propose floor price of token at $0.10, such that if token goes down lower than $0.1, token allocation no longer goes up. Every contributor onboards this risk.
Future change to token economics - Sharlyn and Martin
See here. https://gist.github.com/dgufdavjiahu/3d8ca75939fec762162d84e7a1ee15bc
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Aladdin takes 100% fee of yield instead of 10% from user allocated capital, but issues a ALD token instead to the user of equal amount to the yield + 5%.
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User gets ALD token instead of base farming token. Farming token goes to treasury.
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How do we support price with the treasury? Possibly liquidate farming tokens and then buy ALD. Bit like a bonding dynamic. Buy back. When circulated value of ALD goes below treasury value, sell treasury assets and buy ALD.
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This way, holding ALD is proxy to holding an allocation of premium protocol tokens, as the token price mcap floor is supported by total treasury value.
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ALD token holder gets proportional governance power over the treasury.
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25% reward rate. As treasury moves into millions, $10 millions, reward rate decreases.
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Projects can vote for the reward rate they want. Half of rewards can go to ALD stakers, half to miners, as an example.
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ALD token mcap lower bound is total value of treasury assets. If ALD token mcap goes below treasury value, sell treasury assets and buy back ALD.
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Crougeur raises issue: we are paying out more ALD in representation of yield. We should think about this extra emission as it can cause panic selling in market if someone decides to sell early. Martin mentions the possibility if charging a tax if they wish to liquidate their tokens. Should stop dumping all tokens at once as soon as receive from emission.
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Issue with race between growing the treasury, and increasing inflation of ALD.
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maybe this can be solved with continual growth in Boule Plus. over 200 accounts (1 million +) tokens staked. absorbing supply.
Further discussion on other areas of AladdinDAO
Martin
- What if Boule Plus pitches new protocols instead of Boule members, and Boule members only vote on protocols integrated. Could potentially incentivise more engagement on the Boule Plus side.
- Lemma bit too early to integrate, looks bad potentially on Boule members who voted for it? Something to keep in mind.
- integrate super safe protocols at the beginning to get footing in treasury evaluation,
- Sharlyn - focus on tier 1 assets?
- Once Lemma is ready we implement them first.