What is $ROBOT going to be used for, you ask? Here’s what it can be used for right now:
- Access to private Discord (alpha leaks, drop alerts, collective culture creation)
- Governance over platform (capital expenditure, future products / partnerships, token mechanics / distribution)
- Member exclusive drops
Currently we distribute ROBOT to the following:
- Buyers of products
- Designers of products
- Community Contributions / Ops
The bulk of the reward is currently going to buyers at a rate of 0.4 ROBOT / dollar spent (until we hit $100k in sales). I’m proposing that after we hit 100k in sales, we reduce the buyer reward and create a new reward pool: Curator Rewards.
Here’s how it would work:
- Designer makes a proposal for a product drop
- Curators can “charge” the proposal by staking their ROBOT tokens on them. The more ROBOT that gets staked, the faster it charges.
- Once the proposal builds up enough charge, it will go into production and pre-orders will open.
- Curators who staked on that product will get X ROBOT per dollar sold, proportional to how much “charge” they contributed.
(this is essentially a form of Conviction Voting)
There’s a lot of good incentive alignment here:
- Creates demand for ROBOT
- Reduces circulating supply through staking mechanics
- Rewards active participants instead of passive holders
- Curators will have a vested interest in generating sales for products = decentralized marketing force
- Designers will compete to get the most Stakers = doper products
- Products that go into production will have guaranteed demand
- Permissionless: allows our community to coordinate on a larger scale
- The people that bring the most value to MF will earn the most tokens and have the biggest stake in its future success, and will feel emotionally attached / aligned with it as well. Good vibes.
There’s tons of interesting game theory that could come out of this, and IMO it would be a lot of fun to play this “curation game”. It’s basically “curation mining”.