Initial Token Generation (First TGE)

Tokens are required for the DAO to operate and for initial allocations.

We are not currently ready for the full token generation event, so this proposal will mint 0.1% of the full quantity to kickstart the system.

If you are receiving 10,000,000 tokens in the full generation event as per the omnibus proposal you will receive 10,000 tokens from this initial token action.

The target address is an Arbitrum Gnosis multisig wallet, the subsequent allocation will originate from there. The signers are the 12 original genesis members, and 7 signers are required

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This is an important step towards tokenising the first property on the platform!

Genesis needs tokens in order to vote on upcoming proposals and this is the right motion. Thank you, Bill!

If there are no further comments/questions/concerns by the community, this proposal can be forward to our on-chain governance platform by tomorrow evening.

3 Likes

The goal with this proposal is to provide tokens to all participants (community and FFI distributions specifically) in a pro rata basis - These tokens will be tradable however the market will be so shallow that it shouldn’t affect market prices at TGE.

3 Likes