May 10 Product Call - Genesis Team & Tiered Eligibility Criteria


This is a recap on the various points discussed during the call re: genesis token distribution. Note that these are points in bullet form and likely to require further digestion and refinement. The points have not been made in chronological order nor were they made in order of priority.
The points contained herein, while not considered Final, shall be used as the basis moving forward unless there is significant objection to the terms.

  • Founders are not eligible for genesis token distribution.

  • The Founders emphasized that the genesis token distribution should not be construed as a bona fide compensation plan similar to salaries but rather a reward to encourage existing contributors to stay and believe in the project.

  • A point was raised from the founders that they favored a flat distribution to all genesis team members, with those who wanted more tokens buy them off those who don’t want it and let the (internal) market handle this. However, a counterpoint was raised on whether this takes into consideration those who has gone above and beyond in terms of contribution.

  • Arcology and Coach raised the idea of having 2 Tiers, T1 (Leadership) and T2 (General) and splitting the Genesis token bucket 50:50 into T1 and T2. Both will have vesting applied.

  • Arcology suggested that all contributors shall be considered as T2 and that members that believe should be in T1 should self nominate via an emoji poll, and then voted on. This vote shall have either a quorum and/or majority.

  • Lion mentioned that there should be an additional criteria for T1/T2 eligibility of 3 months active contribution. This should be either ‘vocal participation’ in calls, significant activity to move discourse forward on a certain topic, authorship in original content. Note that the above is still open to subjectivity, but Arcology mentioned that there needs to be some flexibility in the system. There should also be no more T1 than T2 members.

  • Senad and Gruad to clarify whether the 2.5% distribution is cited from Whitepaper or Tokenomics model. Note - Maria suggested a target distribution of about 0.5% for Genesis contributors.

  • There shall be no more new Genesis contributors from this point forward (Coordinape round April). Those who arrive from this point forward will be eligible for future post-Genesis token distributions only.

  • Another point was raised on whether there should be multiple Genesis distributions. As the Genesis contributor eligibility is now closed and that there is vesting applied to distributions, as well as considering complexity of implementation, it is generally agreed to have a single distribution, and that new contributors be eligible for future-looking token tranches.