Proposal: Creating the Tokenomics for Chainverse

Diamond DAO
#1

Background

Even though we already have a token deployed (DMND), we are still lacking a tokenomics strategy. Season 1 is upon us and Chainverse is close to its first live version. To create the right incentives to attract users, there are a lot of questions to be answered and work to be done. In the following sections, I will outline the work plan I have identified from my initial work on this subject ( check more here).

What needs to be done

Based on my first dive on this subject I identified the following steps:

  1. Perform deeper research on best practices and gather more real examples that would be closer to Chainverse “ideal” tokenomics.
  2. Improve upon the first tokenomics ideas crafting a more detailed and well-rounded version.
  3. Build an alternative approach that is more (or only) Global oriented (like UMA KPI options).
  4. Present both versions to the DAO members and gather consensus.
  5. Work with the product team to fine-tune all the technical requirements for the model chosen to integrate properly with the final product.
  6. Check if the DMND token that is already deployed is compatible with the model chosen on 4).
  7. Outline ERCs and token contracts standards to be used to accomplish the model chosen on 4).
  8. Work on the tokenomics modeling aspects.
  9. Write tokenomics paper.

My working proposal

About me

I have a background in Economics, having worked in the Financial sector for more than five years as a Financial Analyst. In the last 4 years, I have been transitioning to data science, and in the last 2 years, I have been working as a data analyst for a web2 company (you can check more here) .

I joined web3 due to DeFi. I have been an avid user for almost 2 years and I am really passionate about the space and mainly tokenomics. I don’t have a track record of working in tokenomics for other DAOs yet, but I strongly believe I can help Diamond DAO come up with its first tokenomics strategy.

My track record with the Diamond DAO

I am not a member as yet, but I am about to get my activation due to this activation bounty completion

I recently finished 2 analyses for the DAO working on the POAP Data Landscape bounty, you can check more about it here.

I also started doing some research on tokenomics for the DAO, this work can be found here.

Timeline and compensation

I am following this awesome framework for the compensation parameters and terminology

  • Comfort level = Comfortable
  • Time commitment = 100 hours (17 hours a week (on average) , 1 month a half total)
  • Stablecoin compensation = 100* 45 = $4500 (2250 upfront, 2250 upon completion)
  • Share compensation: 20 shares upon completion

Final words

I would love some feedback on the proposal. Cheers!

1 Like
#2

Really excited to get our Tokenomics working group going. Before moving ahead with a proposal, I would like to see a bit more detail about how we would evaluate your work here.

For instance, no (active) members of the DAO are tokenomics experts. Could we make receiving 20 shares (at the upper end of the comfortable range) contingent on hosting a workshop to review the tokenomics strategy with some folks who are knowledgeable about tokenomics?

Avi from Delphi Digital and Spenser at Coinlist are two examples; do you think we could host some sort of formal review process to get feedback?

1 Like
#3

For sure, I think this is a great idea and would add a lot of value to the tokenomics process.

1 Like
#4

Edited proposal:

Background

Even though we already have a token deployed (DMND), we are still lacking a tokenomics strategy. Season 1 is upon us and Chainverse is close to its first live version. To create the right incentives to attract users, there are a lot of questions to be answered and work to be done. In the following sections, I will outline the work plan I have identified from my initial work on this subject ( check more here).

What needs to be done

Based on my first dive on this subject I identified the following steps:

  • Perform deeper research on best practices and gather more real examples that would be closer to Chainverse “ideal” tokenomics.
  • Improve upon the first tokenomics ideas crafting a more detailed and well-rounded version.
  • Build an alternative approach that is more (or only) Global oriented (like UMA KPI options).
  • Present both versions to the DAO members and gather consensus.
  • Work with the product team to fine-tune all the technical requirements for the model chosen to integrate properly with the final product.
  • Check if the DMND token that is already deployed is compatible with the model chosen on 4).
  • Outline ERCs and token contracts standards to be used to accomplish the model chosen on 4).
  • Work on the tokenomics modeling aspects.
  • Write tokenomics paper.

My working proposal

About me

I have a background in Economics, having worked in the Financial sector for more than five years as a Financial Analyst. In the last 4 years, I have been transitioning to data science, and in the last 2 years, I have been working as a data analyst for a web2 company (you can check more here) .

I joined web3 due to DeFi. I have been an avid user for almost 2 years and I am really passionate about the space and mainly tokenomics. I don’t have a track record of working in tokenomics for other DAOs yet, but I strongly believe I can help Diamond DAO come up with its first tokenomics strategy.

My track record with the Diamond DAO

I recently finished 2 analyses for the DAO working on the POAP Data Landscape bounty, you can check more about it here.

I also started doing some research on tokenomics for the DAO, this work can be found here.

Timeline and compensation

I am following this awesome framework for the compensation parameters and terminology

  • Comfort level = Comfortable
  • Time commitment = 100 hours (17 hours a week (on average) , 1 month a half total)
  • Stablecoin compensation = 100* 45 = $4500 (2250 upfront, 2250 upon completion)
  • Share compensation: 20 shares upon completion [*]

[*] Share compensation will be contigent to successfully holding a workshop to people that are knowledgeable about tokenomics in the ecosystem that will be chosen by the DAO (examples: Avi from Delphi Digital and Spenser at Coinlist) and get review from them before considering the proposal finished.