AlchemyDAO is proud to announce our plan for how we will be achieving 2 key goals and answering the key problems we, like many projects, have faced.
- How to fund the DAO to be able to achieve it’s needs and be able to operate autonomously through having capital to fund further development and growth - How to actually decentralize and allow for the DAO to operate as a distributed organisation, with members who have incentives aligned with the DAO
We considered how to distribute enough tokens to make sure that the team cannot control the DAO, by distributing higher allocations to both the airdrop (2m tokens) and the LP and creator rewards (1m tokens). However due to the number of addresses which were able to claim and participation rates, many tokens will be left unclaimed. We do not wish to do further airdrops as incentives arent aligned for the new holders, who will just sell as they have no stake in the DAOs success. To that we propose the ALCH Dutch Auction.
ALCH Dutch Auction
Alchemy will create a Dutch auction for all tokens that are not claimed by April 18th, putting them up for auction on the auction.alchemydao.com platform and selling the tokens using a dutch auction based model. We chose this as it guarantees everyone the best rates no matter when they bid. The funds will then be sent to the ALCH DAO, which then will be governed by the people who funded the DAO, allowing for them to decide how to spend their money collectively. This aligns incentives for everyone and allows the DAO to operate completely independantly, using the funds to cover development and growth needs.
The auction will be for all tokens that are unclaimed from the airdrop contract, with the starting price set to about $12 USD and min price which may be accepted at $2 USD (these prices may change as we get closer to the auction to try set a reasonable rate closer to the market rate), with the price going slowly from 12 to 2 until all tokens are committed to or the time runs out. Any tokens left if the time limit gets reached will be sent back to the DAO. The auction will run for 2 weeks. All ETH will then be sent to the DAO, which will then be controlled by those who participated.
We think this model best fits the ideal for how to distribute voting power to those with incentives aligned to the success for the project and DAO, as well for the DAO to have the capital needed to properly operate, allowing for the protocol to operate autonomously.
Funding AlchemyDAO through Rapid Decentralization
Funding AlchemyDAO through Rapid Decentralization
Funding AlchemyDAO through Rapid Decentralization
AlchemyDAO is proud to announce our plan for how we will be achieving 2 key goals and answering the key problems we, like many projects, have faced.
- How to fund the DAO to be able to achieve it’s needs and be able to operate autonomously through having capital to fund further development and growth
- How to actually decentralize and allow for the DAO to operate as a distributed organisation, with members who have incentives aligned with the DAO
We considered how to distribute enough tokens to make sure that the team cannot control the DAO, by distributing higher allocations to both the airdrop (2m tokens) and the LP and creator rewards (1m tokens). However due to the number of addresses which were able to claim and participation rates, many tokens will be left unclaimed. We do not wish to do further airdrops as incentives arent aligned for the new holders, who will just sell as they have no stake in the DAOs success. To that we propose the ALCH Dutch Auction.
ALCH Dutch Auction
Alchemy will create a Dutch auction for all tokens that are not claimed by April 18th, putting them up for auction on the auction.alchemydao.com platform and selling the tokens using a dutch auction based model. We chose this as it guarantees everyone the best rates no matter when they bid. The funds will then be sent to the ALCH DAO, which then will be governed by the people who funded the DAO, allowing for them to decide how to spend their money collectively. This aligns incentives for everyone and allows the DAO to operate completely independantly, using the funds to cover development and growth needs.
The auction will be for all tokens that are unclaimed from the airdrop contract, with the starting price set to about $12 USD and min price which may be accepted at $2 USD (these prices may change as we get closer to the auction to try set a reasonable rate closer to the market rate), with the price going slowly from 12 to 2 until all tokens are committed to or the time runs out. Any tokens left if the time limit gets reached will be sent back to the DAO. The auction will run for 2 weeks. All ETH will then be sent to the DAO, which will then be controlled by those who participated.
We think this model best fits the ideal for how to distribute voting power to those with incentives aligned to the success for the project and DAO, as well for the DAO to have the capital needed to properly operate, allowing for the protocol to operate autonomously.
Come join the discussion
Alchemy
https://AlchemyDAO.com
Twitter
https://twitter.com/AlchemyDAO
Discord
https://discord.gg/gFtHRVCDPb
Substack
https://alchemydao.substack.com/