I will be voting FOR (catching @Thomas_Hepner and @lee0007’s call for transparency). This is a ground-up well considered plan. I spent a good bit of time in the trenches (aka highly advertised and expertly run workshops) with the dozens of contributors that helped make sure this plan gets governance to those that are the highest context nodes in our network.
As I see it, this work product is the result of delegated authority by the Autonomy Group commissioned by this DAO, I had every opportunity to help craft this proposal just like every other contributor; given how we got here, one could effectively write Index Coop DAO as co-authors and it would be dead accurate.
In a DAO that requires a contributor base larger than a vanilla protocol, we’ve become a powerhouse in just one year. The existing reward system has worked pretty well; however, stating that wages are a fine method of token distribution when 1.3% of the community allocation has made its way to those choosing DAO over time with family, while over 4% has been OTCd to investors, is easily refuted. FT vesting contracts, held by a handful, are worth more than half of the total wages paid to all contributors, and all of that together is still only 2.1% of governance with DAO contributors after year 1 (with less than 2% able to vote). We have a DAO that is governed by a token barely held by the DAO members.
I don’t put much stock in the “cap out and dump” theory floated above. Those actors would gain less share of the pool over time (diminishing returns) as those reinvesting and contributing more gain a larger share of the pot, it’s a massive incentive to stay. Even if 20% is sold year one, that’s still only 1% of token supply hitting market via the community allocation in a year; that’s incredibly thin relative to other token distributions and less INDEX than hit the market in the past year by an order of magnitude - we’re good on that front.
I dropped some thoughts on a tokenomic model here but at this point we’re all just banging together bits of tokonomic models in our garages. We Owlsourced this community ownership proposal, we can Owlsource tokenomics too (I believe we need a representative INDEX-holder contingent for that discussion, massive RAPID incoming?)
Huge thanks to those still driving on this; solving community-wide problems when we have 2% of the voice and value is frustrating - we’ll all get there!