Do you have a few examples of tokenomics models you plan to investigate? And will you be looking to a specific niche within crypto, or specifically to DAO tokens?
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Thank you for the feedback everyone.
Glad to hear that @Sixty
Please join us in the next proposal review call to tell us a bit more about your interests and experience. If there are no objections from other delegates, we’d be happy to have you onboard.
I agree with this @Jaf The challange is that in the WG framework we specified 3 months as the max duration of a WG budget request. We could either reduce the scope of the first iteration of this WG or extend the max duration of budget for any WG. what do you think?
Thanks for the suggestion @coffee-crusher and @Sixty for seconding it. Do you think this is sufficient @Jaf ?
Definitely. Producing public documentation is a key deliverable of this WG.
The TokWG is free to venture into topics which it identifies as optimal for the DAO. Off the top of my head here are some potential areas the WG could look into.
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Assessing the effectiveness of incentivizing liquidity provision through rewards in native tokens to enhance market depth and liquidity.
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Incentivizing token holders to stake their tokens, thereby securing the network and earning rewards
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Models that utilize bonding curves to dynamically adjust token price based on supply and demand
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Deflationary models where tokens are burned to reduce supply & potentially minting new tokens under specific conditions to maintain a balance
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Mechanisms where a portion of the DAO’s revenue is distributed back to token holders, aligning incentives & promoting long-term holding
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Models which increase the utility of the token in the RARI chain or products built on top of it
My suggestion is to focus on investigating models that can enhance the economic sustainability & growth the DAO. However as mentioned before such decisions should be made by the WG after further research on the topic.
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With the idea that this hopefully becomes (after some iterations) a formal ongoing workstream for the DAO, I’d say the communications need to be more frequent, ideally bi-weekly. We have limited time during Community Calls and waiting a month or two to discuss progress can be bad.
This can be a very reduced report in the forum with bullet points.
And again, it’s important having the documentation & research that this WG is producing publicly available.
To kick things off, let’s stick to the 3-month plan. As we make progress, we can propose continuing the working group for another season or even discuss converting it into something that runs for longer seasons
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Thanks for the feedback @Jaf Based on your feedback to continue with the 3 month framework, it’s best to not overpromise for the first iteration. Hence I’d like to reduce the scope to:
Goals
- Conduct comprehensive research on current tokenomics models & identify best practices.
- Create a draft proposal for a possible set of tokenomics solutions tailored to the RARI ecosystem.
- Provide detailed documentation on the recommended solutions
outlining the required resources and potential impact. - Gather community feedback on the proposed solutions to refine & improve them
Timeline
Month 1: Group formation and initial research
Month 2: Identification of potential tokenomics models, development & gathering solutions
Month 3: Finalisation of first draft of the recommendations, clear documentation & presentation to the DAO.
KPIs
#number of researched solution
#biweekly WG updates
depth & detail of the proposed solutions
ease/readiness for implementation
MoS
Successful community approval & adoption of proposed solutions-
Draft proposal with clear documentation & actionable recommendations
for future implementation
Also as an FYI, there is room for 1 more analyst to join the squad. Is anyone interested?
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Thank you very much for taking everyone’s comments in consideration for this proposal @jengajojo.
IMO - this is a more secure foundation for something we want to expand into a larger project.
I would also like to express my interest in the Analyst position within the WG. Full disclosure, this would be my first time formally performing this role. However, I have conducted substantial tokenomics research in the past, both during my time as a Core team member with Push and through my participation in other DAOs.
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Thank you @Jaf We’d be happy to have you onboard
Based on the work done in the GC and the rationale stated there, I’d like to up the compensation to match that request.
| Role | Quantitiy | Compensation (RARI) |
|---|---|---|
| Steward | 1 | 3000 |
| Research Analyst | 2 | 6000 |
| Foundation representative | 1 | 0 |
| Scribe | 1 | 3000 |
| Buffer | 1000 | |
| Total ask | 13000 |
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Hey @jengajojo, I will be there! The proposal review call will be on the RARI DAO Discord later today, correct?
I am also seconding the scope of this first iteration of the TokWG, considering the WG is only meant to operate for 3 months. We can hit all the promised KPIs in the recommended timeline.
Having personally worked with @Jaf, I can attest to his excellent eye for detail and diligent and in-depth research in any topic he sets out to study.
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Yes ser and thank you for your support and feedback
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Abstract
This proposal aims to establish a Tokenomics Working Group (TokWG) within the RARI DAO for a period of three months. The ‘TokWG’ will operate for three months, with the primary goal of researching & proposing the first draft of tokenomics strategies to enhance the economic sustainability and growth of the RARI DAO ecosystem
Motivation
Effective tokenomics is critical for the long-term success and sustainability of any crypto product. With the rapid growth of the crypto space as well as the DAO, it is imperative to revisit and refine our tokenomics model to ensure it aligns with the community’s goals and fosters sustainable growth. Establishing a dedicated TokWG will provide the necessary focus and expertise to develop innovative and effective tokenomics solutions.
Rationale
Forming a TokWG will enable a concentrated effort on improving RARI’s tokenomics. By leveraging the collective expertise within our community and external advisors, we can create well-researched and tailored tokenomics strategies. This focused approach increases the likelihood of developing successful solutions that drive value for our ecosystem.
Key Terms
Tokenomics: The economic model governing the creation, distribution, and value of tokens within an ecosystem
Specification
Goals
- Conduct comprehensive research on current tokenomics models & identify best practices.
- Create a draft proposal for a possible set of tokenomics solutions tailored to the RARI ecosystem.
- Provide detailed documentation on the recommended solutions
- Gather community feedback on the proposed solutions to refine & improve them
Timeline
Month 1: Group formation and initial research
Month 2: Identification of potential tokenomics models, development & gathering solutions
Month 3: Finalisation of first draft of the recommendations, clear documentation & presentation to the DAO.
KPIs
#number of researched solution
#biweekly WG updates
MoS
- Draft proposal with clear documentation & actionable recommendations
Multi-sig policies
- Assuming a 5 member squad, the multi-sig will be structured as 3 out of 5
- 10% of the compensation will be sent at the start of the project
- 40% of the compensation will be sent upon delivery of the first draft of the tokenomics solutions
- All remaining compensation will be sent upon submission of recommendation
- Multi-sig address 0xC805b3Cd0686c9F6d406b1BF9ae64fA28FF7E88e
Roles & responsibilities of each member
Project Lead/Steward: @jengajojo
Oversees the group, coordinates tasks, and ensures milestones are met.
Research Analysts: @Jaf + @Sixty
Conduct in-depth research on tokenomics models and trends.
Foundation representative: @addie
Works with the RARI foundation to coordinate efforts and resources
Scribe: @coffee-crusher
Prepares detailed documentation of the recommended solutions.
Budget
| Role | Quantitiy | Compensation (RARI) |
|---|---|---|
| Steward | 1 | 3000 |
| Research Analyst | 2 | 6000 |
| Foundation representative | 1 | 0 |
| Scribe | 1 | 3000 |
| Buffer | 1000 | |
| Total ask | 13000 |
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This proposal is up for voting until Mon Jun 24
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Hey @jengajojo, It’s great to see this proposal has passed; as project lead, what are the next steps for coordinating the formation of this working group?
The proposal did not include the code for transferring the budgeted tokens to the multi-sig address.
The options I see are:
- Post a new proposal with the execution code
-Or- - TokWG delivers the output as stated in this post and gets retroactively rewarded by making another post’
@Sixty @Jaf @coffee-crusher What do you all think?
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By “not including the code for transferring”, I’m presuming that you mean that this proposal did not include the address of the multisig wallet, or do you mean that it didn’t include the tx address for the transferred budgeted tokens?
Of the two options, I prefer option # 1. Posting a new proposal with the execution code allows for it to be on-chain for future reference, especially when we’re referring to the transparency of the token’s budget.
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the post on forum had all the necessary details to schedule token transfer including the address and the total amount, but the post on tally did not have the code snippet which transfers these tokens upon the proposal being passed.
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Got it. OK, so I still stand by my option # 1 of a new proposal that includes that as follow up. I’m presuming that Option # 1 also require it also to go to Tally?
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IMO its more practical to go with option 2.
Going the proposal route again seems a bit unnecessary for me.
This can be a quick topic for discussion in the gov call.
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Hey, guys @jengajojo @coffee-crusher @Jaf @addie, I think it would be best to coordinate the next steps outside of the forum and share our final decision afterward. It’s important to ensure all of us are aligned before the start of the working group. Could you set up a group chat for coordination @jengajojo.
gm, @jengajojo and I spoke about a channel for coordination in discord. i created the “
│tokenomics” channel under the /DAO section of the server for the working group to use. please let me know if you have any questions or additional requests for the channel. thank you!
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How do we proceed with this?
As far as I understand, the working group was approved in a proposal, but the compensation was missing. And for the corrected one, the proposal was defeated?
I’m reading on Tally that @Matt_StableLab’s concern for changing their opinion was mainly, that the governance working group should be the first one. Does the approval of the governance working group now allow for a resubmission of this proposal, or do you have additional concerns?
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