The D.A.O. and The Fund
The role of the JRT tokens is to reward and incentivize users, developers and partners for the value they are creating; it is an incentive to keep , and a reward for the one created. Over the next 5 years, at least 90M JRT will be distributed to those who help Jarvis grow. These 90M tokens will be held in two pools, one managed by a Decentralized Autonomous Organization (DAO) and one by the Jarvis Strategic Fund (JSF). Both will also have to manage two pools of stable coins…
The DAO and the SF are two entities that are as similar as they are different.
The DAO is composed of and managed by all JRT token holders, whereas the JSF is a centralized entity managed by the company. The DAO is the place where our community can be decision-makers and be involved in the future of the company.
Both the DAO and the JSF will have to manage their own JRT pool amounting 30M and 70M tokens respectively. They will have to distribute the tokens they hold to the actors who contribute the most to the growth of Jarvis (we’ll get to that in a second), and in the most efficient way, to foster user acquisition and retention. The distribution will continue until the pools become empty, at least for the first 5 years. The DAO will have to distribute 500k tokens per month, and the JSF 1M tokens on the same period.
The DAO has more “brainpower” than the JSF, and is more likely to be a place to discuss and share ideas, where great decisions will be taken. And since the DAO receives 25% of the ecosystem revenue, and redistribute it to the token holders, they are incentivized to take good decisions to generate more revenue.
While the Strategic fund will mainly focus on distributing tokens among strategic and key partners, the DAO will mainly focus on distributing them to users and developers through ongoing bounty campaigns.
Who will receive the tokens ?
The DAO and the JSF will have to distribute the tokens to incentivize and to reward those who contribute most to the growth of Jarvis. There is no precise definition of “contributing to the growth”, and while sometimes it can be very quantifiable (number of new users brought, revenue generated) it can also be more abstract (influence of the users in the social network of Jarvis, white hacker, etc.).
Through a voting mechanism, DAO members can decide to organize bounty and airdrop campaigns, as well as other gamified quests, hackathons and trading contest, which would benefit the Jarvis community and ecosystem. The JSF will decide to distribute JRT to key partners, and to reward them with more JRT over the years, as they are generating great value for Jarvis.
Some example…
Every month the DAO has to distribute 500k tokens. 100k could be shared among the top 5 or 10 users or developers, who have referred the most new users to join. 100k could be shared among the users who referred new users have generated the most revenue; 100k more would be given to the winner of a hackathon who would built a poker Dapp; 200k shared between the winners of a trading contest.
Jarvis allows the integration of Dapps that already exists and might already have a community; as example, a DEX could invite its community to use the Jarvis wallet instead of MetaMask, or Ledger as example; by using the Jarvis wallet, the DEX users could access a fiat or payment gateway, or access Forex trading in just a few clicks, generating revenue for Jarvis; the Dapps that will generate the largest revenue will be rewarded every month as well.
A trading community in Spain has 5k members; the community owner uses their referral link to invite their members to join and to use the Jarvis Exchange to trade Forex or CFDs, create video tutorial on the platform, and publish analysis on the Jarvis social network; the JSF grants them with a few thousands tokens to start the partnership, and will reward them with more tokens as they bring more new users; every year the partner can receive extra tokens, if they have been the most loyal or successful partner.
Since the tokens delivers revenue, it creates a virtue circle; if a Dapp, or a user, has earned JRT because they have referred a lot of users, they will earn revenue every month; if the revenue increases, they will have more incentive to keep inviting people to join Jarvis, therefore receiveing more tokens, and more revenues.
Buy-Back program through stable coin
The most important feature of our token is its revenue sharing mechanism for the token holders. Another mechanism described in a recent article was a buying-back program.
As token holders, the DAO and the JSF wallet will also receive their own proportional part of the revenue in stable coin. These revenues could be used for granting prize pools for trading contests and hackathons, or for marketing purposes, but will mostly be utilized to buy back tokens on decentralized exchanges or using decentralized protocols like Bancor or Uniswap and likewise.
These tokens will not be burned, but will be used to refill the pools. If 300M tokens are left after the TGE (considering we are burning unsold tokens), the DAO and the JSF will receive 6% of the revenue the first year, and 1.2% the 5th year.
One of the ethos pillars we created when we first started Jarvis was that we wanted to maintain our origins in being completely community-driven. We knew it was important for us as a company, to ensure our community is rewarded for contribution and their feedback heard, and we knew we wanted to find as many ways as possible to enact this. The DAO and the JSF are such mechanisms, put in place to give users more control over the company direction, to allow for crowd wisdom to flourish and to bring fresh ideas to the ecosystem. We hope that the mechanism will prove to be efficient and will be looking forward to feedback from our pilot users!
Pascal.
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⛔ Disclaimer: This article contains text, data, graphics, photographs, illustrations and information (“Information”) connected with Jarvis International and/or other entities part of the Jarvis group ( “Jarvis”). Jarvis attempts to ensure Information is accurate, however Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. The publication of this article does not represent solicitation by Jarvis of buying the token “Jarvis Reward Token” and is not to be considered as a recommendation by Jarvis as to the suitability of any investment, if any, herein described. No action should be taken or omitted to be taken in reliance upon Information in this document. Jarvis accepts no liability for the results of any action taken on the basis of the Information.
