Cancelled

JBP-152: One-time JBX distribution to Peel

Author

Anon

Cycle

21

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Title: One-time JBX distribution to Peel
Author: aeolian
Date: 2022-04-22

Thesis:

Distribute 25,000,000 JBX to Peel, the team building and maintaining the juicebox.money website.

Abstract:

Distribute 25,000,000 JBX to Peel, the team building and maintaining the juicebox.money website.

Motivation:

As builders of the Juicebox frontend, Peel has significant interest in the governance of the Juicebox protocol. Juicebox DAO is quite dependent on Peel by virtue of Peel stewarding juicebox.money. Peel's ETH payout is very reasonable, however is a somewhat short-term incentive. It should be in Juicebox DAO's best interest to incentivize Peel for as long as possible. JBX is the best mechanism for doing so.

Outside of incentives, it gives Peel greater ownership over the protocol for governance purposes. Because Peel is a team of builders, Peel is incentivized to vote in the best interest of other Juicebox projects and users generally - juicebox.money and Peel don't exist without users.

Risks:

  • Juicebox DAO has less JBX for future distribution.
  • Juicebox DAO has less JBX for redemption of treasury funds.
  • Peel doesn’t use JBX to vote.
  • Peel uses JBX to redeem funds from the Juicebox DAO treasury.

Specification:

Distribute 25,000,000 JBX to peel.eth (0x0e9D15e28e3De9bB3CF64FFbC2f2F49Da9Ac545B).

Rationale:

  • Juicebox DAO currently has 164,346,223 JBX, so 25,000,000 JBX represents ~15% of Juicebox DAO's JBX holding.
  • JBX total supply is 2,464,574,735, so 25,000,000 JBX represents ~1% of total supply.

Timeline:

This proposal should be executed during FC#21.

Copyright and related rights waived via CC0.