MetaGame Tokenomics (SEED) - Yield farming edition

Let’s take some inspiration from yield farming. Read below my idea for SEED tokenomics.

SEED is a community token.

It can only be earned with honest work for the community - by gaining XP (no pre-mine, fair distribution).
Is a share of the community and all its products and its treasury.

Is a governance token.
Gives you voting power.
Allows to decide on treasury.
Maybe pays a dividend.

Can be earned or bought on the open market.

Supply is uncapped.
But the current supply is minimal (reward early members for their work).

To be part of the community you have to own/stake N amount of SEEDs. (example 400 SEED) <- called membership fee

So the ones who work for SEEDs can sell them on Uniswap to new wannabe members.

Membership gives you access to quests/raids that allow you to earn SEED - allow you to earn more SEEDs, a bigger share of the community.

Governance forum and DAO decides on:

  • Membership fee
  • Dividend
  • Treasury

So the model is very similar to recent yield farming craziness but backed with a token of real value, earned with our hard, honest work.

Long term plan:

  • Keep honest work, build metagame
  • Build products inside metagame that will generate income for the community
  • Increase treasury (from the income and other activities)

As a MetaGame member

  • you live from earning and selling SEEDs
  • or from dividends for owning/staking SEEDs

What do you think?

3 Likes

Copy pasting from the discord for posterity:

As discussed on the call today, I think the treasury should automatically get x% of the SEEDs minted, it would be like a built in subscription. People who have SEEDs are likely people who are already contributing value to MetaGame, so the people we want to actually get subscriptions from are the people who want to be a part of it but aren’t actively contributing.

For that, IMO we should have the subscription be a recurring purchase of SEEDs with ETH/DAI. i.e. you “subscribe” for $10 a month or something and that $10 goes towards market buying and staking SEEDs from the Uniswap pool. What you get for your subscription is the SEEDs themselves so it builds long term alignment, and you also get access to the community channels via CollabLand since you will now have SEEDs.

The x% of SEEDs that go to the treasury can be used to provide liquidity for the Uniswap pool, or to reward people with a liquidity mining program, or anything else. The token holders can decide how we manage that treasury.

In terms of existing players, the liquidity mining program could be a good way to use their SEEDs and stake them for more SEEDs in the future, as well as make money from people buying their SEEDs. A lot of people dont want to provide liquidity because they are “losing their SEEDs”, but if we replenish those SEEDs with liquidity mining program it can offset the impact.

Eventually we could make it so that “planting” / locking your SEEDs gives you more governance power etc, but not 100% on that yet. SourceCred has plans to start implementing Boosting, and that would be the best use case for actually “spending” SEEDs IMO, details here: https://roamresearch.com/#/app/SourceCred/page/QE48G1pxx

Other things we can get people to spend SEEDs on is merch or exclusive NFTs, etc, but those type of microtransactions aren’t really feasible on mainnet right now. In addition, for the actual treasury management and minting etc, its still insanely expensive on mainnet with Aragon, especially since it takes multiple people voting on multiple steps to even do anything. A cheaper way to do it would be to have the treasury in a Gnosis safe or something and have the diamond fam as the multisig signers (or people can vote for who should be multisig signer). Then we can use off-chain signature voting with snapshot.page.