Once a contributor or entity has developed significant responsibilities to the DAO, they are encouraged to propose a reserved JBX allocation for themselves to recognize this commitment while aligning their interests to the DAO's interests long term.
In writing, provide answers to the following questions:
Who: Own.fund Treasury Multisig: 0x97b5bCfeA315D68f8007cA93bf6020a78dd26D49
Voting Address: 0xA9903BDA477b9A57BD795AdFf9922cB98DB65F04
Proposal date:
2021-09-30
What responsibilities have you assumed on the community’s behalf thus far?
Representatives of the Own.fund (Yoni, dexer, and TerraBellus) participated in recent Town Hall and Dragonfly calls, and collaborated on the production of a Juicebox Research Summary that provided an overview of the project in addition to an analysis of its most positive qualities and areas where it could address issues in the current tokenomics and system mechanics. In studying the platform and launching his own project, TerraBellus also found and raised several bugs and UI issues (such as inconsistency in stated fee amounts and how they’re used), the correction of which will improve user onboarding. Lastly, Yoni and dexer have made combined personal investments in the Juicebox project of more than 80 ETH. To learn more about the Own.fund, please visit: https://own.fund
What responsibilities do you plan on assuming on the community’s behalf going forward?
- Act with other DAO-affiliates to ensure that the mechanics of the project are in line with the long term interests of the team, major investors and the wider community.
- To participate in community conversations around fundraising and act as an intermediary in managing relationships with financial players. This would be a task that would benefit from the Own.fund’s extensive network of builders in the cryptocurrency industry and experience in the realm of venture capital.
- Both of these initiatives could then be combined through the formation of a group of informed parties able to move the project to a wide release through partnerships, community building and marketing.
- At the appropriate time the Own.fund could use this network to lead a funding round of anything from 3 to 5m USD, enabling the project to meet any market conditions that might emerge by facilitating the long-term development of the protocol in the interests of its community, its users and its team.
- As the project becomes more widely known, the Own.fund could seed finance a community fund that could be managed independently from but with the oversight of the core team, enabling the funding and enactment of community initiatives without the tasks entailed in this becoming a distraction from development.
- Once the token is more widely distributed, the creation and funding of a deep liquidity pool or pools for the JBX token. This will create another means of onboarding users to the project, something that would be especially useful as token-integrated governance becomes more developed.
- Collaboration on the implementation of a Synthetix-based staking system. The Own.fund is currently working on a project that requires staking and is in the process of custom building smart contracts for this purpose. We would thus be in the position, and more than happy, to share our findings and potentially the insight of the developers we have working on this task. This would vastly increase the speed of implementation as it would free the Juicebox team to devote their time more fully to the core protocol.
Proposed Reserved JBX allocation:
x%
What else do you foresee needing from the community for you to best manage this responsibility.
Given the potential financial boon for Juicebox of having a well-connected body such as the Own.fund involved in managing its relationships with other financial players, an additional compensation system paid from the JBX DAO based on a revenue share model for investments originating out of this relationship would seem to also align incentives. The split in this would be open to negotiation with the DAO, with potential for a portion to be contributed directly to a community fund.
What does success look like for someone taking on these responsibilities?
Success would equate with Juicebox obtaining substantial investment from institutional players of a high caliber that would add both the capital to the project necessary to provide a runway for sustainable growth, as well as access to a network of projects and communities that could incorporate the Juicebox project’s products and services into their own architecture.
In regards to tokenomics and system mechanics, we would consider success in this role as the establishment of standardized fee distribution models that serve the interests of the team, early supporters and future community members in a manner that optimizes long term growth over short term revenue.
Under what criteria might it make sense for the community to reassess this reserved token allocation to you?
On the business development side, as the payout allocation would be a function of investments in Juicebox that Own.fund has facilitated taking place, reassessment would be unnecessary due to payouts being dependent on our verifiable contributions. Where reassessment might take place is in the degree of revenue share and the proportion of revenue made by the Own.fund that might go to a community fund. These variables could perhaps appropriately be reassessed on a quarterly basis.
Once you feel good enough about your answers, post a link to your proposal in the JuiceboxDAO discord in the #proposals channel.
The decision to allocate reserved JBX tokens to you will be made through a Snapshot vote between all users currently being allocated reserved tokens from the DAO.
The DAO will decide whether to progress the proposal by either expanding the funding cycle reserved rate to accommodate the new allocation, or by reallocating within the current reserved rate.
If the reserved rate is being expanded, this will also require a vote among all JBX toke holders.
Note: an important required responsibility of those allocated reserved JBX tokens is to participate in votes for future JBX reserved token allocations. For allocations to non-EOAs, please attach an address that will manage voting on the non-EOA address's behalf.