Proponent: Metaverse DAO
NEAR account for payment: metaverse-dao.sputnik-dao.near
Project Timeline: February 5th – 31th
Objective: The main objective of this project is to feed the liquidity pool from metacoin and fund the project that was voted by metacoin holders. We also intend to open new submissions from metacoin holders.
Justification (benefits): The relevance of this project is to fulfill the ideal of decentralization over the decisions, that are the very essence of the DAOs and of 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 values and holds our token. This has an interesting consequence, which is to give a utility to the token and probably raise its price in the market.
Project: 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 white paper (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 adress: 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.
Timeline
February 5th:
To decide what project submitted last month we will fund this month (decision by holders).
February 10th:
Feed liquidity pool.
Post in the forum about the decentralized project (open submissions).
Publicize post.
February 11th:
Start receiving submissions from metacoin holders.
February 25th:
Close submissions of projects from holders of Metacoin.
February 28th:
To expect for the project accountability.
To vote on the project to be funded next month.
Budget
300 usd in near: to feed the liquidity pool.
250 usd in near: to fund the decentralized project.
TOTAL: 550 usd in NEAR
Final Products: Metacoins distributed among community and in a liquidity pool, and a funded project of 250 usd in near budget.
Metaverse DAO