[IDEATION]: Marma J Foundation: Social Tokens DAO
Submission by: bianca.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 contract for the marmaj token: NEAR Explorer | Account
- Trading Pairs:
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
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.