season-1-indie-allocation-proposal.md

Overview

Now that the IndieDAO community has officially launched its governance token and initial project efforts, it’s time to design a transparent system for awarding $INDIE tokens to contributors according to the value they provide to the DAO.

History

Upon DAO launch in October 2021, we bootstrapped the initial token grant of 1M $INDIE (out of a 10M max supply cap), issuing tokens to each member according to the following parameters:

• 1 point per hour contributed to past projects
• 10% bonus of other Indie’s hour points that each Indie referred
• 10% bonus of other Indie’s hour points that were applied to each sales Indie’s project
• Points were tallied, and the 1M token grant was issued to all who opted in, in proportion to their points

This Season 0 genesis allocation was primarily issued to 2C members that helped make the launch possible.

Future

Season 1 and beyond will begin to pivot towards more significantly allocating tokens to active members of IndieDAO, the Indies taking the DAO to the next level each season.

The IndieDAO treasury holds the privilege to mint 9M remaining $INDIE tokens, for future use in tracking contributions and ecosystem partner projects. This proposes a season-based approach to minting new tokens, and allocating to Indie contributors, as detailed below:

Initial Treasury Mint

On January 1st, 2022, the IndieDAO treasury (0x762C0cefBdC51D3ca0553b81792D82fcA96EF7a3) will mint the remaining 9M $INDIE tokens to itself, such that it can distribute tokens using transfers instead of minting, and such that the max supply cap is transparent on integrated tools.

Seasons

Each season will last 3 months, allowing for a quarterly season structure to continue in perpetuity. $INDIE allocations will be issued at the end of each season. The current Season 1 will end December 31st, 2021, and Season 2 will begin January 1st, 2022.

Season 1 $INDIE Allocation

Season 1 will conclude with a 250,000 $INDIE allocation, base points distributed as follows:

Syntax	Description
125,000 (50%)	2C 100% distributed equally to all 2C projects on an hourly pro-rata basis
62,500 (25%)	Level Protocol 95% distributed to contributors on a Coordinape GIVE pro-rata basis 5% distributed to integration partners
25,000 (10%)	Community Call Participation 100% distributed to participants on a meetings attended pro-rata basis Eligible calls: Town Hall Builders Working Group This Week in Crypto
12,500 (5%)	Discord Participation 100% distributed equally to all members who have participated in a chat channel during Season 1
12,500 (5%)	IndieDAO Launch 100% distributed equally to all IndieDAO launch POAP token holders
12,500 (5%)	Advisors 50% distributed to Level Protocol advisors 50% distributed to Tokenomics advisors

Point bonuses will be applied as follows:

• 10% bonus of other Indie’s total points that each Indie referred
• 10% bonus of other Indie’s 2C points that were applied to each sales Indie’s project

Point bonuses will slightly dilute the base point values above, then the 250,000 $INDIE will be distributed proportionally to each Indie’s total points for the season.

Summary

This proposal requests permission for the IndieDAO treasury to mint remaining tokens up to max supply cap, and grant 250,000 $INDIE to community members for their contributions during Season 1 (from October 1st, 2021, to December 31st, 2021). Data will be rolled up, approved in a secondary proposal after January 1st, 2022, then token actions will occur before January 31st, 2022.

Approve Season 1 - $INDIE Allocation Proposal, allowing the IndieDAO treasury the right to mint and distribute $INDIE in accordance with this proposal?

Yes / No