If you have a token - why do you need funding? Tweet thread / mini blog

laurenluz commented 1 year ago

outline common misconcpetions why we have a token

laurenluz commented 1 year ago

can reference other projects, how they use tokens reference gitcoin forum post around exclucing projects w/ tokens from grants add in tweets where people voice concerns

SteffanThorn commented 1 year ago

do with have a source for this to bounce the ideas from?

laurenluz commented 1 year ago

I'm not 100% we want to do this anyway at this point, we can.

The idea came from basically gitcoin's grant requirements... many months ago, when this issue was posted they explicitly said they didn't allow projects w/ tokens...

The idea is basically that if you have a token, you must have done a fundraise or gotten VC investment... had like a seed round or something.

In the case of Giveth, we didn't have ANY investment (in hindsight, a bit of a mistake). The idea was that we would launch the economy., create demand for the token & use the token to fund and fuel development.

The initial intention w/ this tweet thread was to make it clear that not every project with a token got tons of VC investment, and we are trying to making it possible for public goods projects to become sustainable through economic models... starting with Giveth as an example.

I'm not sure we should keep going w/ this thread though... just throwing those ideas at you @SteffanThorn

SteffanThorn commented 1 year ago

My thought then is to provide a thread on the function of $GIV.

It's tokenomics. How it works in the GIVeconomy.

This would give people an understanding of the value $GIV as a token more than just a speculation.

laurenluz commented 1 year ago

that would be a GREAT idea. To get you started:

GIV was initially distributed to a "trusted seed" of value-aligned people via airdrop in 2021 (you could share the distribution table?
you could mention that we did not do a token presale for VC investment... hence we still look to donations often to bootstrap our development costs
it is issued regularly to donors on Giveth through our GIVbacks program
it has been issued via decentralized governance platforms like the GIVgarden (controlled by GIV holder) and the nrGIV DAO (controlled by Giveth contributors who have the giveth repuration token, nrGIV
GIVgarden was controlling requests for funding from Giveth
nrGIV controls more internal things... GIVbacks, paying contributor salaries
some has been set aside for "roadmap projects"
it can be staked in the GIVfarm for GIVpower / GIVgarden voting power & GIV rewards
rewards earned through staking & GIVbacks become part of the GIVstream - leading to inflation (although maybe the high inflation rate isn't a point of pride for the economy)
it can be used to vote in Tokenlog (on giveth roadmap projects), snapshot (on important DAO decisions), projects on the dapp (project curation via GIVpower)
long term goal: GIV will be used as the base currency for bonding curves for public goods projects... so you'd need GIV to buy into the economies of public goods projects at the get go.

You can review out docs for some graphics/more detail: https://docs.giveth.io/giveconomy/

SteffanThorn commented 1 year ago

@laurenluz Could I think I need to see that graph.

and understand where the tokens and liquidity meet up.

SteffanThorn commented 1 year ago

https://docs.google.com/document/d/1icWHiGj8XJE5GyGHRpWaPYu52QKGtZCgGX8pCy1lF5A/edit?usp=sharing

First draft. I'm not sure what nfGIV DAO is.

And tokenlog and snapshot I can't find the links that would help me understand.

Left comments where I need your input or guidance @laurenluz

https://docs.google.com/document/d/1icWHiGj8XJE5GyGHRpWaPYu52QKGtZCgGX8pCy1lF5A/edit?usp=sharing

SteffanThorn commented 1 year ago

@oyealmond I'll loop you in here too. What's nfGIV?

oyealmond commented 1 year ago

I think you know have the info to keep working on this right @SteffanThorn?

SteffanThorn commented 1 year ago

yup I'll work on this

laurenluz commented 1 year ago

I think we need a different format for this content rather than twitter to start. left a long comment explaining:

A content piece on "why GIV has value" or "why you should buy GIV" or "why GIV & GIveth makes sense from an economic perspective" would be valuable, but imo it needs to be long format first... and then maybe you could turn it into a thread after. there is way too much to explain, and I feel like a social media piece is like a fluffy format for the weight of this piece & it's intended audience.

This should be something more evergreen.

I wrote some notes at the end of doc after talking with Griff about what this kind of thread should include, but I don't also think you have the context to do this on your own.

I sent the notes to griff and maybe we can make another issue with the notes & ideas, and try to get some other support on it.

oyealmond commented 1 year ago

maybe move it to a landing page @SteffanThorn?

SteffanThorn commented 1 year ago

Good shout Almond.

Would be something worth exploring as a landing page.

Giveth / giveth-planning

If you have a token - why do you need funding? Tweet thread / mini blog #1187