[HACKATHON]: Marma J Foundation: Social Tokens DAO

Ecosystem Social Tokens
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[IDEATION]: Marma J Foundation: Social Tokens DAO

Submission by: bianca.near
Target: marmaj.sputnikdao.near

The Marma J DAO exists with the purpose of supporting creatives who aim to spread love and positivity throughout the web3 community. Currently, the Marma J SputnikDAO is where the Marma J Council Members vote on proposals submitted on the NEAR blockchain. Each proposal to the Marma J SputnikDAO also requires a Discourse Forum link upon submission.

One of the main funding avenues that support the Marma J DAO is the split royalties and fees from NFT sales on the Mintbase platform. As such, all NFTs minted by the DAO on Mintbase will use “marmaj.sputnikdao.near” as the funding address in the split royalties (and also split fees). This means that the Marma J DAO will earn off of every sale, forever. This cycle will generate revenue for the Marma J DAO to support incoming proposals from our community members.

Some general information about marmaj token economics:

The marmaj token is currently trading on three different pairs on Ref Finance. Arbitrage between these pairs will earn 0.24% (in fees) on all trades. The Marma J Foundation will run a trading bot that is optimized for routing trades that earn the bot more marmaj tokens. The fees earned from this bot will be used to incentivize the Marma J community.

Every time marmaj tokens are distributed from the Marma J Foundation to an external address (for work done to support the Marma J Foundation’s mission), an equal amount of marmaj tokens will be added to the token’s liquidity. This liquidity will mostly be centred on the marmaj - wNEAR pair.

Our Current Focus

The Marma J DAO aims to deploy a front-end for our web3 ecosystem. The first iteration of this will be a UI for Marma J community members to interact with and view data on marmaj.sputnikdao.near, marmaj.tkn.near, marmaj.mintbase1.near, and marmaj.near. This UI will include:

  • The ability to see proposals from the DAO and their outcomes
  • A price graph for the marmaj token (graphs available for each pair)
  • Buy and sell functions for the marmaj token on each pair (Ref Finance v2)
  • A wallet that displays a users NEAR, FT, and NFT balance

In Summation

Funds raised by the Marma J Foundation, pooled at marmaj.sputnikdao.near, will be dispersed through on-chain payout proposals submitted by the Marma J community. Members of the Marma J DAO council will ensure that proposals align with the current focus before approval/rejection of a vote. The current focus is to provide a foundation of token economics that enables the Marma J Foundation and its members to efficiently spread love and positivity within the web3 community for years to come.

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Curiosity, will this be on-chain?

Looking forward to this; I think We could start to explore building some tools like this, that are more related to creators and communities, as open-source, taking some inspiration from example from https://forefront.market/creators.

Excellent goal! :blush:

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Thanks for putting this separate post in - looking forward to what you build!

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yes! we plan to run this bot on chain :slight_smile:

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[PRESENTATION] Marma J Foundation: Social Tokens Presentation

Marma J Foundation - Marmaj Token Presentation.pdf (1.5 MB)

Submission by: bianca.near
Target: marmaj.sputnikdao.near

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Nice clean slides, they look great, and clear outline as far as execution plan. The main questions I’m left with, which would be great to address, are:

  • who defines love and positivity? I’m assuming the DAO - is this defined somewhere? I poked around a bit on your MarmaJ site and have a slightly better idea - animals, environment, diverse people - would be good to name this IMO.
  • Somewhat connected, the front slide has the trans pride flag on it, and I’d love to learn more about how this connects to Marma J. Crypto/Web3 100% needs more diversity in it, and so I think if this is a part of what you’re advocating for, it may be worth saying that explicitly.
  • I was very interested to learn about your plans for the front-end. SO desperately needed, and I’d love to learn more about how you’re thinking of it, how you’re involving community in the design, etc.

I’d like to see some more details re. this in the presentation, and then would be happy to approve the payout. Thx!

5 Likes