Tokenomics
A high level overview
At a macro level, MODA DAO tokenomics are designed around the Web3 Sustainability Loop, originally designed by Ocean Protocol in September 2020.
The Web3 Sustainability Loop posits that in order to create a sustainable ecosystem, a DAO (or any other Web3 based protocol for that matter) should aim to create a positive feedback out of its token. MODA's approach is simple;
- Allow new members to purchase MODA tokens
- Give members the ability to vote on MODA proposals
- Ensure MODA proposals (proposed by the core team) contain token buybacks/grants which are then quickly enacted
Token buybacks aim to benefit in the following ways;
- Improves $MODA liquidity, incentivising the continued purchase of MODA tokens from new partners and members
- Makes more $MODA available in the treasury to distribute back to staking rewards, potential voting rewards and artist grants
Grants aim to benefit in the following ways;
- Enables musicians to gain support in building their careers
- Ensures consistent dissemination of $MODA token into the wider ecosystem
- Puts the power of $MODA back into the hands of those who care about the project most
Last modified 19d ago