0x9594…64c1 on-chain memos

0x95947de9…64c1sent to0xdeae2abb…14eb2023-01-31·#16,528,509·0x3da632ae…42e901

Tomi Tokenomics Update Proposal.tomi Tokenomics Update Proposal: NOT ONLY FOR THE RICH.  tomi is designed to be an internet for the people and by the people. The initial team was conservative in their estimates of how many people would join initially, and as a result the Pioneer participation NFTs are beyond the ability of most people to afford the tokens. Furthermore, the current mechanism concentrates power, because when someone buys a Pioneer, they also get 18,000 $TOMI tokens, which means they have more money to buy Pioneers the next day. As the $TOMI tokens became valuable very fast, this is no longer an equitable way to distribute the tokens.     We do not want the tomiNet to be dominated only by wealthy people, so the DAO voting mechanism should be changed. We do not want to concentrate capital in the hands of the few (and to concentrate power and money), so the mechanism of $TOMI issuance should change.     tomi has future plans to create a Self Sovereign Identity Wallet which will allow the separation of voting from the ownership of monetary tokens, however, until that wallet is released it is necessary to update the tokenomics so that regular people can acquire voting rights in the DAO governance.      TLDR   <ul> <li>Instead of buying Pioneers, anyone can stake 18,000 $TOMI TOKENS to immediately get a Pioneer, so in the end it is profitable to mint a Pioneer. </li> <li>In addition to regular Pioneers, anyone can stake 180 $TOMI TOKENS to get a mini-Pioneer, an equivalent of 1/100 Pioneer. </li> <li>Pioneers will get 100 votes and mini-Pioneers will get 1 vote. </li> <li>There is no limit to the number of issued Pioneers and mini-Pioneers, which means that the system can truly be governed by millions or even billions of people. This aligns with the intention of tomiNet to be governed by netizens.  </li> <li>Instead of releasing the daily $TOMI TOKENS with the Pioneers, $TOMI will release 280,000 $TOMI TOKENS per day, 100K for auction, 100K to the DAO, and 80K to the core team, advisors and operating expenses of tomi. </li> <li>A Halving event will happen every 5 years, so the issuance of $TOMI TOKENS will reduce every five years.  </li> </ul>    This proposal is being submitted before the daily auctions of Tomi Pioneers and is designed to replace this auction mechanism. The tomi team is requested to stop development of the auction immediately on approval of this proposal and transfer their development efforts to the new tokenomics structure.     <h1 style="margin-left:0cm;">Proposal: Mini-pioneers </h1> The tomi Pioneers NFT collection is the governance token for the tomiDAO. The initial issuance was for 1500 Pioneers, with three issued per day, so that even at the end of the first year, only 2595 people were given the right to vote. Each Pioneer has 1 vote in the DAO.  The initial Pioneers were sold for $3000 and the highest Pioneer price to date was 10.5 ETH ($16,500). In other words, money buys power in the DAO, and the amount of money required is quite high. With such a limited supply of tomi Pioneers, the expectation is that it will become even more expensive to be part of tomiDAO over time, making it a plutocracy. This is not the intention of the Tomi team or the Pioneers.   The mechanism proposed is as follows:  · Mini-Pioneers with 1 vote are minted and issued to anyone staking 180 $TOMI in the tomi staking pools.  · Pioneers with 100 votes are minted and issued to anyone staking 18,000 $TOMI in the tomi staking pools.  Any wallet can stake as many tokens as they want and get as many Pioneers and mini-Pioneers as they want.   You must stake in the approved liquidity pools. As of this proposal, only the tomi staking pools are approved staking pools for this, to make it easier for the tomi core team to approve them. The tomi core team should create an approvals process and API so that other staking pools can be approved by the DAO for issuance of Pioneers, opening the system up to additional decentralization. (tomi team, please provide a timeline for this.)   Pioneers and mini-Pioneers can be bought or sold on the open marketplace. Starting in June 2023, the DAO should allow voting only by Pioneers and mini-Pioneers that have been held in the voting wallet for at least 30 days. Starting in January 2024, the DAO should allow voting only for Pioneers and mini-Pioneers that have been held in the voting wallet for at least 14 days. This avoids people buying Pioneers for voting only, and prevents spikes in Pioneer costs for important votes.         Current Mechanism    Proposed Mechanism      3 Pioneers auctioned per day    Unlimited Pioneers minted, based on staking of minimum 12 months of 18,0000 $TOMI tokens.           Unlimited Mini-Pioneers minted per day, based on staking of 180 $TOMI TOKENS for 12 months.      18,000 $TOMI minted per Pioneer, deposited to Pioneer wallet    No $TOMI tokens issued to Pioneer or Mini-Pioneer NFTs. Pioneers and Mini-Pioneers earn yield on their staked tokens.      100 votes per Pioneer    100 votes per Pioneer and 1 vote per mini-Pioneer      Pioneers can be bought and sold like any NFT    Pioneers and Mini-Pioneers can be bought and sold.       Daily issuance of 110,080 tokens (described below)   56,000 $TOMI to 3 Pioneer buyers   53,000 $TOMI to core team, etc.   1080 $TOMI to the Art DAO    Daily issuance of 280,000 tokens (described below)   100,000 public auction   100,000 to the DAO, including 1080 to ArtDAO   80,000 to core team, advisors, operations              The daily issuance will reduce by half (halving event) every 5 years.       <h2 style="margin-left:0cm;">Pioneer and mini-Pioneer design </h2> · The artwork for the initial 1500 Pioneers will not be duplicated on the new Pioneers or Mini-Pioneers described in this proposal but will be chosen in the ArtDAO in a daily contest.  · The DAO or ArtDAO can make proposals to have regular updates to the artwork on the Pioneers and mini-Pioneers, but there should be distinguishing factors so it will be obvious on first glance which is a Pioneer and which is a mini-Pioneer.     This preserve the unique nature of the initial Pioneers as the people who have had faith in the tomiNet from the outset. In the future, it will be possible to distinguish different members of the DAO by the type of Pioneer that they hold. At this moment, there are no special powers to different types of Pioneers, but in the future it will be possible to know who is who, how long people have held tokens, and therefore give reputation in a self-sovereign identity wallet based on people’s status in the network.  <h2 style="margin-left:0cm;">Additional Token Minting </h2> <h4 style="margin-left:0cm;">Current situation. </h4> Currently, when a Pioneer is sold, tomi mints:  · 18,000 $TOMI to the Pioneer  · 17,000 $TOMI to the Development Team and Advisors  · 1080 $TOMI to the Art DAO  Total daily issuance: 110,080. This is causing a scarcity in the tomi tokens for the general public, because the only way to get tokens is either on the exchanges or by purchasing a Pioneer.   <h4 style="margin-left:0cm;">Proposed Token Issuance </h4> Rather than issuing the daily amount of 110,080 through the Pioneer minting, the issuance of daily tokens will be completely independent of the Pioneer minting.   On a daily basis, 280,000 $TOMI will be issued as follows.  · 100,000 $TOMI on an open auction where anyone can purchase them in the auction.  · 80,000 $TOMI for staff, advisors and development team.  · 100,000 $TOMI for the DAO treasury. 1080 of those tokens will go to the ArtDAO.  The funds from the auction and the DAO treasury would mainly be used to invest in projects that contribute to the growth of the network and the DAO. Additionally, the option to distribute dividends to Pioneer holders is open.     <h3 style="margin-left:0cm;">Benefits: </h3> Overall, this proposal aims to improve the distribution and accessibility of the tomi token, and to ensure that the network is owned by everyone in the long-term. By introducing mini pioneers, more people will be able to participate in the network and become pioneers.      The daily auction would provide a fair market price for $TOMI tokens and generate additional funds for the DAO to invest in projects that contribute to the growth of the network. The token distribution for staff and developers ensures the maintenance of the fast-growing tomi network.     <h2 style="margin-left:0cm;">Requirements:  </h2> In discussions with the tomi team, the team affirmed that development of these mechanisms would fit into the regular development schedule and the token issuance described above will cover the costs of these developments.   <h2 style="margin-left:0cm;">Schedule: </h2> If approved, this schedule immediately freezes any Pioneer issuance under the previous scheme.  The tomi team estimates that the release of this new scheme will be available within 8 weeks of the proposal approval.   <ul> <li>Starting in June 2023, the DAO should allow voting only by Pioneers and mini-Pioneers that have been held in the voting wallet for at least 14 days.  </li> </ul>