We have come a long way in the past 6 weeks. Toshimon is no longer just an idea, but a reality-- and we have loyal community members that have provided liquidity, provided services, and provided support. There is no way Toshimon would have gotten this far without significant help from our community members and Toshimon Team chat (which has served as an impromptu ToshiDAO in interim). Since we are in this together, I wanted to give a frank outlook for our path forward.
TOSHI-nomics check-up
As of the time of writing, TOSHI is trading at $2.40 with about $50k in liquidity on Uniswap. Coingecko wants us to have a stable $100k or more liquidity for listing. LPs are crucial to price stability, and thus must be rewarded heavily. In addition to providing liquidity, LPs are also a barometer of health-- extended liquidity providing evidences a vested interest and overall belief in Toshimon.
TOSHI-nomics: Vote-staked Yield and SuperDelegates
ToshiDAO is designed in a manner that incentivizes effective supply reduction and governance, and ensures that true believers in the community remain at the helm of the DAO.
Vote-staked Yield
ToshiDAO pays governance participants a percentage of packs minted as yield pro rata to those that Vote-staked their TOSHI. In order to vote in proposals, you must stake your TOSHI for the duration of the voting period. This not only reduces the effective supply of TOSHI, but also ensures that Toshimon card NFT rewards only go to those that are active in the ecosystem-- thus encouraging the health of secondary NFT markets. When you vote-stake, you get yield in the form of Toshimon Cards. The more TOSHI you use for vote-staking, the more yield. Simple as that.
SuperDelegates
TOSHI holders have the ability to vote -stake on proposals, but cannot submit proposals to be voted on unless they stake a SuperDelegate NFT. SuperDelegate NFTs are of limited supply and are only rewarded to those with a vested interest in ToshiDAO. If you have a SuperDelegate token, you may stake it in exchange for the ability to provide a proposal for ToshiDAO to vote on (such as whether to make official gameplay changes, or how to allocate the ToshiFund). Staking multiple SuperDelegate tokens moves your proposal up in the queue.
How to get SuperDelegate Tokens
For the first 24 weeks from the time of the first Airdrop, SuperDelegate Tokens will be minted to the top weekly liquidity provider. Snapshots will be used for the weeks leading up to the initial minting.
After the first 24 weeks, SuperDelegate minting will be reduced to once per month for 12 months. After this period is up, SuperDelegate Tokens will be minted to top Liquidity Providers once per quarter in perpetuity.
Additionally, 4 SuperDelegate tokens will be up for grabs each year through our quarterly Toshimon Tournament-- a Toshimon battle tournament that rewards one SuperDelegate token, as well as ethereum prize money. The structure is such that tourney winners will have an increasingly large share in the SuperDelegate pool as time goes on-- something that provides a fair and open way for anyone to become a SuperDelegate.
Preventing governance manipulation
Besides providing a way to reward LPs and community members, SuperDelegates serve an important role in maintaining the legitimacy of the vote-staked yield system. Due to the nature of vote-staking for yield, irrelevant proposals could be incentivised — as proposals are needed to be able to vote-stake for yield. Requiring a SuperDelegate token to be time-locked in order to submit proposals alleviates this issue and incentivises efficiency and proper use of the vote-staked yield system.
Other info
SuperDelegate tokens will be transferrable. LPs will also be rewarded with Toshimon Cards and exclusive NFTs. Rewards will occur shortly after Dojo launch. Snapshots will be taken for all rewards and retroactively awarded if applicable.
ToshiDAO is currently in production. The launch of the Toshimon Dojo is only the beginning.
