What’s poppin, my daogs! Art here. In this article we will discuss the revenue distribution mechanism of MyDAOgs.
Let’s have a look at how the system decides, how much dividends each user should be getting? There are 3 metrics we can rely on:
- How many days user has been a member of the system.
- How much “weight” user has in the system.
- How many projects were generating revenues in the period of user being a part of the ecosystem.
We made these metrics easy to track by implementing the native token (ticker is MYG) and its staking functionality which has been the golden standard of web3 world. The more tokens and the longer you stake them, the bigger is the amount of dividends you are going to receive.
During the staking period users are also generating extra profits in native tokens with generous APR.
Once staked, user becomes an eligible decision maker of the DAO, which allows:
- Creating business idea proposals for the next products that MyDAOgs developers are going to build.
- Voting for other users projects.
- Voting for releasing dev rewards (explained in the following article).
- Voting for termination of a current developing project (and moving on to the next one).
- Creating proposals for adding new features to already released products.
- Voting for releasing maintenance fees (explained in the following article).
As you may have noticed, users are not donating, but only freezing their native tokens temporarily (similar to banking interest deposits that can be withdrawn anytime).
So the question is, how are we able to pay our development and maintenance costs? There is an elegant solution that we are going to cover in the next post. Cheers!
All intro articles:
