Gm everyone!
I want to start off by saying thank you to everyone that has been involved in the success of Rug Radio in its first month! What an incredible month, we all showed up as a community and built something significant together.
From the moment we launched our fam-list in early December, to launching the Rug Radio Genesis NFT collection on January 11th, 2022, it’s been a non-stop community effort to get to where we are right now.
Looking back on what we have achieved as a team and a community is incredible impressive and something we should all be proud of.
Let’s break down what we have achieved:
- Successfully released 40,000 NFTs! — 20,000 Membership Passes (13.6k unique holders) and 20,000 Genesis NFTs (10.7k unique holders)
- Launched the first 27 host passes and our first show schedules
- Kicked off media partnerships (BAYC, Paris Hilton, and more)
- Released $RUG token which holders of the NFTs have been able to claim through our fully custom dashboard
- Hosted over 50 Twitter Spaces and collectively reached millions of people across our social platforms.
Looking back at the past 30 days, the Rug Radio team and I are personally extremely happy at how things have transpired. Nevertheless, what excites us the most is what is coming next, the RugDAO ($RDAO).
After the launch of the $RUG token with our partners at SyndicateDAO, Will Papper (Syndicate co-founder), Mel and I had a conversation regarding the launch of the DAO to figure out how we should go about launching this in the best possible way!
DAOs are a totally new concept. To the majority of people, they sound nice in concept, but for the most part most people have no idea what it actually means to build, participate, and/or own a DAO.
When we launched the $RUG token early this week, we received hundreds of questions from the community. The questions you ask inform us in many ways, they help us understand how we can build in a better and more collaborative way.
These are just a few of the helpful questions:
“What are the goals of the RugDAO and the mission they are aligned on?”
“What is the responsibility of its holders? How will they govern?”
“Who is running the DAO?”
“What is the difference between $RUG and $RDAO?”
“Why should one convert their 1800 $RUG into 1 $RDAO?”
“Can you convert back into $RUG from $RDAO?”
“What is the value of the Genesis NFT after $RUG?”
And many more.
What we all noticed, as an overarching theme, is that there was a lot of confusion in the marketplace regarding the $RUG token and the RugDAO ($RDAO). What this points to is just how new what we are building is and just how much more education we need in the space. This is obviously not a new discovery. We all knew this was needed.
So, in true Rug Radio fashion, we decided to listen to the community.
We are trying to build the future of Web3 together. The only way that will work is if we, as individuals, actually understand how to use the tools we are being presented with.
Will and his team at Syndicate are responsible for building some of the most successful and sophisticated DAOs in the marketplace. He is actively working on the future of DAOs with his team every day, but also, as a partner of Rug Radio. Will is someone who cares about its future. Mel and I seek out Will’s advice because like you, we too are also learning. The outcome of listening to both you, our community of owners as well as Will and his team is what we are doing next.
Wen RugDAO, you ask?
We already promised to launch $RDAO this weekend, on the 12th of February and that doesn’t change. What we have changed is HOW we are going to launch it.
What are we going to do?
Instead of just launching $RDAO and winging it, we are going to make the launch the ultimate education on how DAOs and Tokens work and how the Rug Radio ecosystem is going to work for each of you.
How are we going to do this?
We are going to launch our very first Learn to Earn program.
We are in this for the long term, and the only way that will happen, is to have a large, educated, amazing community of co-owners building with us, so let’s create that together.
Starting from this coming week (Monday, February 14th) we will be kicking off an official education launch schedule. This program will cover three key areas:
- Tokens — what they are, all the kinds (utility, liquidity, non fungible, composable), the contracts that make them work & how to understand them
- DAOs — structures, governance, how they work, why they exist and what your role is within them
- The Rug Radio platform — what it is, the tokenomics and how you own, build and benefit from it
We will be co-hosting industry experts on these topics LIVE on Twitter Spaces, over three shows per week, recording them, then creating a custom Education YouTube channel with short, punchy 2 minute clips of those conversations to help you soak in the key parts of each topic.
If you join us on this journey, over the next 4 weeks, we make a commitment to you that at the end of that period you will understand the foundations of these key topics. You should walk away from this time with a base understanding of the most fundamental aspects of the most important technology structures in crypto.
I know, I know.. But wen $RDAO ?!?!
At the end of this education journey on March 16th, we will then launch the official $RDAO token, open up the applications for the DAO council elections, kick start the governance model for the DAO and as a community build the future of media together.
Finally, above you may recall I mentioned this is the first Learn to Earn program…
BUT HOW?!
Well, we will be weaving rewards through each and every part of this education program, as participants you will be able to earn $RUG Tokens from the RugBank by being an active learner in the space. This means that if you decide to make the commitment of showing up and learning, you will also earn.
RugDAO already holds over $5,000,000 USD of value. It captures 70% of the base value of the Rug Radio project and that doesn’t even touch on the incredible partnerships, opportunities and value we will build as we grow.
This is important. It matters what we do and how we do it.
Your vote, your involvement and commitment is what will make this successful. So let’s all level up together. Then build something that changes the world.
Please join us on Twitter Spaces, on Saturday, February 12th at 5PM ET (https://twitter.com/i/spaces/1ZkJzbWvObvJv?s=20) as we walk through all this in more detail. The Spaces will be recorded for everyone to be able to catch up on and posted on the Rug Radio Twitter account (https://twitter.com/RugRadio) as well as in our Discord (https://discord.gg/ytrJGBwsb5)
We encourage you to ask any questions you have in the Discord or on the comments of this post, so we can address them directly while on stage.
The Rug Radio team cannot wait to dive in and kick start what is going to be one of the most important DAOs in the ecosystem! There are no limits to creativity in this space and to how much we can make happen with a community owned DAO that focuses on building and empowering the future of Web3 and media.
Thank you for being part of the ride, it’s a beautiful DAO to have a beautiful DAO!
Farokh
