We are ready to fire on all cylinders this morning, despite a slight misfire getting up this morning. The girls are gone, I’ve got my coffee, and a list of things to attend to today.
First up is the weekly status update for SAIAdao. The rebase proposal has passed and is in cooldown, so I’ve got to proceed with next steps, which will be the original migration proposal that I put together a few weeks ago. Since we’ve redistributed loot, now I want to move forward with stripping the claims from shares and make them a voting power only token. Hopefully the math I worked out a few weeks ago holds, and we preserve the exit value during the rebase. I’m not sure that we can preserve voting power with this, but it’ll have to be the way to go, I can’t imagine a two token system working on-chain like it does for DaoHaus.
Another important prerequisite to all this mapping member’s ETH and SOL wallets together. For later members we have the original membership transactions on Solana, but older members we only have ETH wallets. I spoke to the head of Collab.Land last week and messaged him this morning about rolling something out that can help us map the two addresses together. This may allow us to do our initial airdrop.
I’m really going to have to spend some time thinking about the tokenomics for our system. We can have unlimited minting for our loot token as it should be backed by NAV, but what to do about shares? We have an issuance plan that will double the supply in the first year, but I really don’t know what to do about the following year, or how a maximum cap will work. I suppose we can figure that out later or just steal it from what some other teams are doing. All I know is that it should remain relatively sparse for the next couple months, which should make it fairly effective as a rewards token.
And I’m thinking about my big meeting tomorrow, although I’m not sure whether to play it cool or issue a follow up reminder. It could be life-changing, and at the same time I need to play it cool. Breathe.
I have a phone call to make, and then it’s time to start writing.