Mint 4% to Limechain, 7% to Multiverse and 2% to new team members

Mint 4% to Limechain and 2% to new team members

Partner alignment with LimeChain is essential for the future of the Universe. Unfortunately, when distributing the token we were unaware of the value that Limechain and its team would bring on to Universe but they have proven themselves to be a vital part of our operations and infrastructure. Universe core team wants to make it a point that the community votes to allocate these tokens to LimeChain to align them even further with Universe and its goals of creating a decentralized NFT Marketplace.

Limechain are currently advisors to Universe and we would like to make things right by getting them the 4% Token Supply that they deserve. This 4% is to be split up among the LimeChain Advisory Team and the LimeChain team members who work on Universe daily.

LimeChain built the Polymorphs and have contributed to more than we could have asked for and continue to provide value and help us build out technology the space wants to see get built. Limechain has now stepped up and has built the Auctions and Minting contracts for Universe. Limechain will also help with further development on these products and will continue to integrate and build the marketplace features and eventually help us develop more ideas to come.

A few other team members who have recently joined the crew are Rayne Leach, Azam Zafar, Trevor Latson (Speculor Consulting LLC ) and Eduard Moiseenkov. Trevor is a giga brain helping with security, CI/CD, DevOps and infrastructure. Eduard is a top notch senior frontend developer focused on building out the marketplace UI at the moment. Rayne Leach will be running the Universe Support Desk and has experience working in Support desks for NFT marketplaces and will bring a lot of resources to the table and a plan to process service tickets as fast as possible. Rayne has been working with us for 3 months already and has proven to be a lot of help and is a great thinker. Azam Zafar is a project Manager that has now worked with Universe for about 7-8 months and also helps with a lot of the public facing community management like twitter and discord. Azam is very organized and helps manage projects like internal NFTs projects, web UI/UX creation, documentation management and more.

They all have been crushing it and helping a ton, so distributing 0.5% to each of them would be a good way to reward them and help to align the incentives in the right way.

These tokens will be distributed through vesting contracts over the period of 100 weeks.

Fleek Payment

We need to Pay Fleek for the services we are using and this will most likely become a recurring cost.

We are using Fleek to provide users with an option to access our site through a decentralized frontend. As we strive to build Decentralized technology we must also build scalable decentralized tech that will last and will be able to be upgraded. We believe Fleek is a piece to this puzzle we find almost necessary.

Harrison Hines is the founder of Fleek and has been an advisor to the Universe xyzDAO since the beginning of the protocol back in February.

Fleek cost for 12 months is 480 USD so the DAO would be allocating enough ETH to match the amount.

Minting 7% of Universe Token Supply to be under Multiverse Control

The governance tokens will not be sold and only used for voting on the protocol. The voting will be controlled by the Class A equity holders of the company, Tim Kang, Tyler Ward, and Troy Murray.

Projects currently being built under Multiverse that do or will leverage the Universe Protocol

dGuild: A Patreon like system for artists that will plug into Universe Protocol long term. We are working on a novel way of launching NFT projects that would be connected to an artists bonding curve and it will be minted through the Universe Protocol. Expect this in V.2 of the platform.

Worm Hole: A decentralized NFT streaming platform that will use the XYZ token. The current iteration of this system will run through Live.Peer and we will be minting clips through the Universe Protocol.

NFT Display Product: This is a display hardware and software app that will connect to your Universe Protocol user profile and display your chosen NFTs on a monitor or television with very little work.

Multimedia Mining Infrastructure: We are expanding our mining/transcoding/render hardware operation and it will be a crucial part of the operation.

Pre DAO Actions:
1.1 Set up team vesting contracts for 100 weeks

DAO Actions:

1.1. Mint 4% (40M) XYZ to Limechain’s vesting contract
1.2. Mint 0.5% (5M) XYZ to Trevor’s vesting contract
1.3. Mint 0.5% (5M) XYZ to Eduard’s vesting contract
1.4. Mint 0.5% (5M) XYZ to Azam’s vesting contract
1.5. Mint 0.5% (5M) XYZ to Paul’s vesting contract
1.6. Mint 0.5% (5M) XYZ to Rayne’s vesting contract

2.1. Fleek Payment of $480 Equivalent of ETH
3.1. Mint 7% (70M) XYZ to Multiverse contract address

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Sounds good to me! As long as the tokens to Limechain are vested.

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As a follow-up, however, what are the parameters of the vesting contract? 1/100th of the distro will be dispersed weekly?

I am also a bit confused why this supply needs to be minted and not come from the team supply or some other DAO fund?

I suggest no more immediate token emissions, they should stay locked for some time. Because as per the original whitepaper, adding 6% of supply into circulation is disproportionate relative to the the total pie.

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The total of 13% is coming from the treasury?, I know this is more complicated but i would like to see that the community is given the opportunity to contribute in that way, I know some giga brains inside the community on blockchain, smart contracts and front end security.

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This sounds very reasonable. Limechain have been doing a great job from what I can tell. I imagine the new hires will do great also. Always love to compensate the team fairly for their work :slight_smile:

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Tokens will be vested to Limechain.

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Correcet

We only have 71,190,000 XYZ which around 7% in the treasury because we haven’t launched the system yet so the DAO hasn’t been accruing fees.

I would like to state that in my opinion the whitepaper is a living document. As the times have changed and new marketplaces have launched we are watching different tokenomics models. I think we need to keep an open mind to what our system looks like for the looong term health of the ecosystem. Added to that Multiverse is working on some things that will bring value to the token but we can’t talk about that yet. It will have an effect on the tokenomics if the DAO votes things in. We’ve seen emission models work well in DeFi, I don’t think we should shy away from it in the NFT space either. These are new economics and I want us to keep an open mind.

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So the treasury has around 7% of XYZ in it. We could pull some from there, but I think we should not pull all of the 7%.

Very curious what the community has to say about these numbers.

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Limechain is killing it. The new hires have been working with us for awhile and are killing it also, this is why we want to reward everyone who has been busting their ass over the past couple of months so incentives are aligned.

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I think leaving 2-3% in the treasury is necessary especially if the community wants us to list on exchanges we may need some XYZ laying around

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I 100% agree. Long term we are working on tokenomics that should bring XYZ to the DAO treasury at some level but we shouldn’t drain the whole thing right now even though we can mint more. It also shows that the DAO is still incentivized in some way…even if it is the DAO of the protocol.

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But in which way the tokenomics may change?, I mean the plan is to distribute differently the 1B supply?, or the max supply will be greater, or do not have max supply like ethereum.

I’m not going to get into that right now. It’s being worked on by some other companies that want to build on the protocol, but it will be a DAO proposition because nothing can be changed without the communities input and vote.

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Is it possible to create a function to lock the 7% for multiverse from being sold?
The ersdl saga this week was hilarious but shows that trusting team in good faith not to sell doesn’t always work (not that we have any reason not to trust you dudes).

Overall I support the proposal, people who contribute must be compensated, more information about these individuals will be awesome, and also in the tech side only universe core team knows how much these guys have contributed, so the on-chain proposal should wait until the community can see the quality of the first version of the products.

Smart contract to enforce that multiverse cant sell the tokens it’s a must too, at the end the space it’s about ensuring integrity.

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After taking the morning to think about and converse over this subject: I really think it is important to remember the scope of this project. Many lines of code have been written over a long period of time now. Every once in a while it is good to take a step back and think about the overall perspective of what is being proposed here…
There is so much room for growth and as Limechain’s own mission statement says " We don’t develop blockchain promises, we develop blockchain results. " If Limechain needs compensation for this it is just another drop in the bucket in the grand scheme of things. Furthermore, we really need this development to continue at its current trajectory.
Lets help the dev’s help us. I’m voting yes.

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FACTS!

This is why I’m so bullish on this. We have so much in place and things are gonna get rolling I can feeling. I can’t wait for you all to see everything.

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We could do this, but the idea was that the entity would become a voting block in the ecosystem. Also there are other tokenomic developments that we just can’t release right now that having them locked won’t make sense for some of the development. I would say if Multiverse implodes (no likely) we would return the tokens. The only people that have control over those tokens are Tyler, Troy, and Tim and honestly none of use really need more tokens. We want to do something special. This is written into the by laws of the C-Corp that only we have power over them. We didn’t want some hawk VC being like, “sell them I want my money back.” They know what they are signing up for and the VCs have okay’d this.

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Love having discussions with you ser, you always bring things to consider to the table!

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Agreed. Super important to incentivize great builders to keep buidling for the Universe protocol. I will also be voting yes… well actually I will probably just continue my delegation to @Chuba so that he can vote for me. :laughing:

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