Foundation / DAO Funds
300M SPS tokens, or 10% of the initial supply, will be released into a foundation that is controlled entirely by the staked SPS token holders through the DAO. Once the DAO is live, token holders may submit proposals (by paying a small SPS fee) on how those tokens should be used, and, if the proposal is passed based on a vote of staked SPS token holders, then the tokens will be distributed accordingly.
More details on the mechanisms and process for submitting and voting on proposals and for funds to be distributed will be released as the DAO gets closer to launch. Please keep in mind that while Splinterlands will set up the DAO initially, token holders can ultimately propose and vote to change nearly anything about how the system works, including, but not limited to, how proposals are submitted, how voting works, and how funds are distributed.
Some examples of how foundation funds may be used are below, however it is ultimately completely up to the staked SPS token holders to decide and these are merely examples and suggestions.
- 1.Providing Liquidity - Token holders may vote to use some foundation tokens to provide liquidity for the token paired with other popular tokens on third-party markets such as Uniswap, PancakeSwap or Hive Engine. This may also allow the foundation to earn revenue in the form of liquidity provider rewards to sustain itself going forward after the initial tokens are all distributed.
- 2.Paying for Services - Token holders may vote to use some foundation tokens to pay for certain services that are expected to add value to the ecosystem, for example exchange listings or markting and promotional services.
- 3.Funding Third-Party Development - Token holders may vote to use some foundation tokens to fund third-party development of tools and/or services that are expected to add value to the Splinterlands ecosystem, for example third-party markets, automation tools, bridges/integrations to other blockchain platforms, etc.
- 4.Staking - Token holders may vote to use some foundation tokens to stake within the game (more details on staking in the Staking & Earning section) and earn returns and other rewards to help the foundation sustain itself going forward after the initial tokens are all distributed.
- 5.Investing - Token holders may vote to use some foundation tokens to invest in other assets or tokens (whether related to Splinterlands or not) in order to earn returns and other rewards to help the foundation sustain itself going forward after the initial tokens are all distributed.
Last modified 2yr ago