Dont understand how the qoute fits but surprised that rewarding governance, activity and liveness for a DAO that is built on that community spirit is somehow unproductive. Especially if the process leads to more awareness around the core product.
On a related note, any ideas on what these "productive " future use cases could be? There is 660Mn of $MNDE in the vault and a burgeoning treasury. Interested to know how this war chest could be used? Will help me gain an insight for the work I am doing under the tokenomics grant for Deanâs List DAO. Thanks!
but they literally are already rewarded, and rewarded in a way that doesnât dilute tokens
those tokens are non circulating, just because they exist doesnât mean they need to be used itâs akin to a company having pre-authorized non-issued shares.
To the first point, my idea is to the effect of using any left over tokens from Season 2 in a manner that throws more spotlight on the governance aspect and brings that âutilityâ to more audiences. In my experience, it is easier to gamify the experience of learning anything as opposed to teaching it by other means - not to mention super charge this as a reminder to the existing audience. This is by and large a one time thing & not to be confused with a long term play in perpetuity. In the end, finding more people who are active only brings more energy and has its own multiplier effect on the token, the community and the protocol.
To the second point, the key difference between the vault and the company analogy is that the authorized share capital exists as a record and the vault contains value that is ascribed to it by market forces. There is no subscription to that capital - it just exists automatically the moment you create liquidity for it. Similarly, on the TradFi side, the determinants of FDV, Price per share, free float etc are all on the basis of the paid up share capital and not the authroized one because that is just a legal barring and not capital that has been subscribed to. So not an apples to apples comparison really.
This makes me think that if the narrative to control circulating supply is so important (on this tiny piece of left over tokens that could be put to good use in rewarding desired behaviour), maybe we dont need an Earn Season 2 but a buyback and burn using core revenues. That would ensure a continuously high FDV and low circulating supply. How about that?
Either way, value exists to be compounded upon not to be kept in a current account in the Bank. Not asking that the DAO use all of the stash but just being a little bolder from unspent budgets could allow for surprising results - Like this conversation where I am happy to make your acquaintance and check the pulse here
the high fdv low float of MNDE is just an unfortunate result of the way TGE went. the fact that the mint was burned and a bunch of tokens printed is only different in how it looks not how it should function. the shares held in MNDE governance should just be thought of as un issued shares in a company. yes they should be used when the benefit of dilution is > the cost, which we vote on specifically.
If you think significant dilution would be well spent on getting people to participate in governance then I would suggest you make such a proposal rather than trying to piggybacking on the Earn proposal. Personally I think most people would not vote for this but maybe you find your tribe.
Viewing this as money in the bank is just not the correct framing, itâs dilution.
Thank you for the direction & seeing this as a dilution vs benefit question. The idea to piggyback on Earn was exactly to avoid the conversation around dilution - as that is the amount of dilution that has been budgeted for and the ideation was only around any leftover tokens from that budget. I understand readily proposing a seperate allocation for this is never going to fly - atleast not now.
On the analogies, i guess we can agree to disagree
Droplets have value, particularly for casual or art-centric users on Solana. Offering these users the opportunity to donate droplets to artists, instead of receiving locked MNDE, could enhance their engagement and familiarity with Marinade.
This approach not only introduces them to the Marinade series in a user-friendly manner but also has the potential to foster long-term loyalty as they increase activity on the chain. By strategically leveraging the appeal of droplets, we can create a more inviting and sticky user experience, encouraging sustained participation and deeper involvement with Marinade.
my reply made no claim as to the value or lack thereof of the drops from drip house just that I didnât see how it was âmitigated selling pressue on MNDEâ.
Anyway for what you desire to do I dont think it need approval from marinade in anyway, you can just have a contract which people can choose to lock their msol in, the PDA authority holding the msol in the contract can later claim any MNDE rewards with a cpi and you can choose to give your depositors jpegs or whatever instead if that is what they want.
