Proponent: Metaverse DAO
NEAR account for payment: metaverse-dao.sputnik-dao.near
Project Timeline: May 1st – June 30th (ONGOING)
The main objective of this project is to feed the METACOIN liquidity pool and fund the project that was voted on by METACOIN holders. We also will open new submissions from METACOIN holders here as soon as the project receives funding.
WE WILL ONLY FUND PROJECTS WITH SOME RELATION TO NEAR AND THE METAVERSE.
The relevance of this project is to fulfill the ideal of decentralization over the decisions that are the very essence of DAOs and NEAR Foundation intentions. This is also important because it gives an important role to the community, by democratizing part of the budget for people who value and hold our token. This has an interesting consequence, which is to give a utility to the token and probably raise its price in the market.
We created the token METACOIN and put it in a liquidity pool with DAI. Our project is to keep feeding the liquidity pool, we already have a whitepaper (or similar document) for the token, and we will continue to publicize its swap possibility, distribute it through the community, and help METACOIN holders to submit and vote.
About the METACOIN token:
Contract address: metacoin.tkn.near
Max supply: 100,000
Utility: submission power and voting power on a project to be funded with 5% of our max budget.
June 3rd - 14th:
Publicizing of METACOIN and Decentralized Project.
Submission of projects (ALL PROJECTS SHOULD BE SUBMITTED HERE AS A COMMENT; PLEASE YOU ALREADY CAN SUBMIT IT)
Feed liquidity pool (with May’s funding).
Start the project (we only give the funding after the completion of the project).
To decide which project submitted we will fund this month (decision by holders).
To expect accountability for the project.
To make our accountability for METACOIN and the decentralized project.
250 USD in DAI: to feed the liquidity pool.
250 USD in DAI: to fund the decentralized project. (This will come from the last month’s request since we didn’t have any submissions to the project)
TOTAL: 500 USD in DAI
Final Products: METACOIN distributed among the community and in a liquidity pool, and a funded project of 250 USD in DAI budget.
P.S.: We’re thinking of discontinuing the project for now and only keep feeding the liquidity pool because we’re not getting a lot of interest in it and we also need better marketing for it, which we’re not able to handle alone at the moment.
Have a great creative month,