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).
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.
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.
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.
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
I would love some feedback on the proposal. Cheers!