👋🏽 Happy Tuesday 2C crew!
We are 18 days away from officially launching the IndieDAO, and finalizing operations around $2C (equity) and $INDIE (reputation) tokens.
We have been focused on legal and operational logistics to be able to launch both tokens, and our first official platform for existing IndieDAO members. We have a couple noteworthy changes to share since the initial announcement, and look forward to celebrating the official launch with everyone soon!
Major updates since July 1st, 2021:
Launch Party: The launch party will be held digitally (Oct. 1st), mostly due to COVID and coordination logistics. It will still be a fun opportunity to meet the other Indies if you’re new, and… I heard from a 🐥 that there might be prizes to win. Everyone in the current 2C online #fam is welcome to join (but only official IndieDAO members will be eligible for grant distributions).
Token Supply: Leveraging continued guidance from our legal and accounting pros, we decided to switch the $2C token to a fixed supply cap of 10,000,000 tokens, and dividing the total supply by each season. At the end of each season, tokens will be issued to Indies in proportion to their contributions during that season. Season 0 (Genesis) will “end” October 1st, with the official launch of the DAO platform and the beginning of Season 1 (Inception). This means avoiding a deflationary token model, which is something that we believe benefits everyone long term.
$2C Token Eligibility: We also decided to extend the window of eligibility for tokens back to the inception of 2C. This will allow us to include all Indies that helped 2C become what it is today. This will create more engagement with our existing community, and continue to reward early adopters for helping us trail-blaze into the future. This inclusion, in combination with a fixed supply cap, will result in each current Indie ending up with a higher percentage of tokens overall (compared to the previous model).
$INDIE Reputation Token: We’ve named this the $INDIE token, as it represents a multi-topic reputation standard that Indies can use within the IndieDAO, as well as endless other future possibilities. We will launch with something simple, and extend it to an open standard that can be used by others to build their own reputation utility for their community. There are dozens of standards already developing, so we will incorporate, adapt, or transform our roadmap to fit what serves the IndieDAO and the community best overall.
DAO Platform: After reviewing all existing DAO platforms, we decided to launch V1 on Aragon. Aragon offers a unique combination of flexibility, engaged community, and future capable governance. We were so bullish on the team and stack that we’ve also joined the Aragon Ambassadors program, and will be working to incorporate learnings and upstream changes into both communities.
We are so excited for the launch, and as always, look forward to hearing feedback, questions, and excitement from everyone in the Indie fam!