Stonez Talk Vol. 1
Tags: Utility Tokens, Web3, Dao, Metastonez, Nft

The MetaStonezDAO

Treasury

The treasury of the DAO is already over 15 ETH (or ~$60,000 USD in current exchange rates). 10% of the Public Genesis Mint proceeds went directly to the DAO Treasury and the treasury at the end of the Public Origins Mint is expected to grow beyond 107 ETH by the time the Origins Mint full mints. The first proposal upon full mint of Origins will be that Lead Devs @shaunt___ and @karlsinger will donate 20 ETH to the DAO Treasury on top of the 10% of total mint proceeds, 20% of secondary royalty sales, and 50% of Elemental Stonez Auctions (to be held in Q1 2022).

This significant treasury will allow the holders of MetaStonez to have a direct say in how they want this community to have an impact in the Metaverse.

Voting:

A topic that we see constantly questioned in our channels so we would like to make a final clarification; Genesis and Origins have equal voting power in the DAO.

DAO Utility for Genesis and Origins are the same

You will need to own a MetaStonez NFT to vote. The voting on proposals are all to be held on chain, with each proposal needing to reach a specific quorum where the majority vote wins on a Pass/Fail basis.

Structure of the DAO and how the system operates

MetaStonez DAO Process Overview

Stage 1: Proposal to be discussed before creating it

MetaStonez will launch a forum where “soft proposals” will be deployed. In this stage, the community will gauge how they feel about the said proposal and if they want to vote (pass/fail) to the next stage.

If the said proposal is passed, it will be deployed to the official proposal forum of the DAO to be voted on.

Examples of Proposals/Actions/Treasury decisions

Holistic development of Project MetaStonez (gamification, land, tokenomics, partnerships proposals)

Promotion of MetaStonez contributers to Core Team members in development, art, and marketing capacities

Issuance of grants and scholarships to MetaStonez contributors

Purchase & Fractionalization of NFT projects

Acquisition or Distribution of ERC-20/721/1155 tokens on any chain with multi-functional purposes (acquiring, staking, yielding, airdrops)

Purchasing of real life assets (art, naming rights, real estate, etc)

Donations to charities or causes voted on by the DAO

Delegation, Election & Assignment of ‘officials’ to carry out proposals for IRL investments or off-chain

Stage 2: Voting Period Delay

During the voting period delay, the DAO will release one of a couple fail-safe mechanisms. This will allow holders to reassess the proposal and change their voting decisions, if need be.

Stage 3: Execution

If/when the proposal passes through the voting period, it will be passed to the execution phase. Here, another fail-safe mechanism will be deployed;

Stage 4: Execution delay

This will act as a final fail-safe mechanism for holders to review their vote and explain either their vote of confidence or their reservations on any said proposal. Based on the outcome of these discussions, it will passed or failed through final decision.

Stage 5: Final Governance

In the early onset period of the DAO, MetaStonez will have a fail-safe multi-signatory to protect against malicious activity. In the case that we and the community feel there is malicious activity transpiring, the multi-sig will have veto power against the proposal. As the DAO and community mature and diversify to a balanced ownership, we will shift the contract to revoke veto power in which the DAO will be 100% self-governed.

Lead Backend Dev

MetaStonez Future Utility/Value Cycle

As of right now, Genesis MetaStonez users have benefits in the following ways:

Exclusive Mint Pass for subsequent collections

Enhanced drop rate (over Origins) for Airdrops, Whitelists, and Raffles

Enhanced benefits in future tokenomics yield development (to be approved through DAO proposals)

The team is working on value-creation for membership and participation which is still being refined and scoped. We want to make sure everything is done the right way and commitments are firm when we publicize them, so we can prove sustainable long-term value to all holders through all of our future plans.

Eligible Genesis holders have already received Airdrops and Raffles totalling over 2 ETH in just two days.

Rest assured, bringing value and quality back to our holders is something that we have committed ourselves fully achieving. If and when any such commitments have been solidified, we will maintain the utmost transparency and fill our community in on all of the details in a timely manner.

Thank you all for such a swift launch and we look forward to the Origins Presale Mint on Saturday, January 1st, 2022 at 6 P.M. UTC to be followed by the Origins Public Mint on Sunday, January 2nd, 2022 at 6 P.M. UTC.