Author:
@Jango @Mr. Goldstein
Proposal date:
2021-12-17
What is the goal of this proposal?
Strengthen JBX membership by adjusting the bonding curve from 60% to 70%. This change will further incentivize early token holders to burn JBX tokens for a share of the JuiceboxDAO treasury and decrease the total JBX in circulation.
Provide a comprehensive summary of your proposal.
Bonding Curve adjustments are a significant lever within the Juicebox mechanism. By adjusting this lever closer to 100%, the JuiceboxDAO provides early contributors a better incentive to burn JBX tokens in return for a portion of the treasury thus better distributing governance among the JuiceboxDAO memebers.
We propose to adjust the Bonding Curve from 60% to 70%. At 60%, the DAO is currently offering 1 ETH back from the treasury for each 679,652 JBX burned. At 70%, this will be 1 ETH for about 594,600 JBX burned.
What changes should be made to the bonding curve?
Adjust bonding curve from 60% to 70%
What changes should be made to the reconfiguration ballot?
N/A
What is the expected short term impact and longer term impact of enacting the changes being proposed?
- Reduce JBX token inflation by incentivizing token holders to burn JBX in return for ETH
- Better aligns incentives between early and new JBX token holders
- Enables early JBX token holders to redeem ETH for JBX to better distribute JBX tokens and governance power
What potential tradeoffs should we be monitoring over time if the proposal were to be adopted?
- Reduction in JuiceboxDAO treasury due to increased redemptions
For this proposal to reach its full potential, what other help might be needed from the DAO?
N/A