Authors: @danner.eth, @Sunslinger
Summary
In December 2021, the MetricsDAO Genesis Council unanimously agreed to grant 5% of the total $METRIC supply to Flipside Crypto upon achievement of specific, positive-sum milestones.
This proposal seeks to clearly outline the details of the milestone grant and ratify the agreement through the formalized governance process described here.
History
In December 2021, the Genesis Council, including @danner.eth, @Sunslinger.ust, @drethereum, @andrew.i, @jdcook, @sui414, @MSilb7, @chris.eth, and @0xdef1 voted to approve the allocation of tokens as follows:
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37% Treasury: to service and support ongoing MetricsDAO operations and fund future grants for builders and supporters of the ecosystem
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33% Community: to reward early community members actively engaged in analytical programs servicing our blockchain partners
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30% Core+Genesis / Bootstrap: to align long-term incentives of early developers, community builders and those assisting with internal operations - balanced between up-front costs and future milestones / delivery of value
As part of the 30% allocation for Core+Genesis / Bootstrap, Flipside Crypto was initially awarded 15% of the future $METRIC token supply for its early contributions to the DAO in addition to the opportunity to access further tokens via a deliverable-based milestone grant and an ongoing support grant.
Through these early contributions, Flipside Crypto has proven to be an integral member of the MetricsDAO community and an advocate for advancing analytics skills and blockchain data literacy throughout the entire crypto ecosystem. We’re proud of how far MetricsDAO has come in so little time and look forward to expanding upon the solid foundation that has already been established via successful programs for clients such as Harmony, Uniswap, and Olympus.
Flipside Contributions To Date
Flipside’s bounty process IP and bounty ops tools have provided the foundational underpinnings for MetricsDAO’s community-enabled analytics programs. The team has also designed and funded all protocol development to date and provided:
- human capital with expertise in organizational structure,
- ongoing support of subscription costs,
- technical support and data curation expertise,
- deal-making capabilities (Harmony, Uniswap, OlympusDAO),
- legal research regarding entity formation,
- protocol specification development,
- systems engineering,
- Gnosis safe set up, and
- $100k USDC in seed funding
Milestone Grant - Terms & Conditions
The Genesis Council offered this Milestone Grant of 5%, in addition to the initial 15% allocation, as a reflection of the efforts of Flipside to offer process and service support to the DAO in the short term, on a path to decentralization.
MetricsDAO Genesis Council and Flipside Crypto have agreed that grant distribution will be contingent upon the achievement of specific milestones.
This proposal lays out the items required to meet those milestones:
Design and launch the $METRIC token
- Tokenomics research and development organized and paid by Flipside Crypto
- Work with consultants on aligning $METRIC with long-term goals
- Draft and publish relevant tokenomics documentation
Design and launch the protocol and related smart contracts
- Supply and source developers to work with community developers
- Independent 3rd party audits organized and paid by Flipside Crypto
- Draft and publish relevant protocol documentation
Work with legal counsel to execute within existing regulations
- Draft and publish the MetricsDAO whitepaper
- Establish legal entity on behalf of MetricsDAO
- All work with external counsel organized and paid by Flipside Crypto
Next Steps
Following the process described in Establishing MetricsDAO Governance: Phase 1 (Establishing MetricsDAO Governance: Phase 1 [Vote] )…
This poll will be live for 3 days - if it passes with a simple majority & 20 vote minimum quorum, it moves to the official committee vote 24 hours later.
The official committee vote is held in the Leadership channel where the Governance Committee can vote. A simple majority with a >51% quorum by the Governance Committee is required for the vote to be binding.
Token allocation will come from the 30% Core+Genesis / Bootstrap allocation. When the milestones articulated above are reached, Flipside will post on the forum requesting tokens be sent by MetricsDAO treasury within 5 days. $METRIC Tokens will be sent directly from the MetricsDAO multisig to Flipside’s token treasury.
- YES - Agree to terms of milestone
- NO - Adjust terms of milestone
