tl;dr Tokenomics WG proposes to mint an additional 10% new vested VITA for new strategic contributors
VitaDAOs community has been approached by many mission-aligned and strategic institutional biotech and web3 entities. Purchasing VITA on DEXs is impossible for these entities or in this volume. Working group members believe it would be beneficial to grow the DAO treasury and include these entities. We propose to split this decision into multiple proposals.
Decision in VDP11: does VitaDAO want to mint an additional 10% of tokens, bringing total circulating supply to 40%. In a first step, these tokens would be transferred to a ringfenced multisig, with its sole purpose to enable treasury growing transactions with entities approved by Vita holders.
Once this decision is made, working group members and VitaDAO community could engage those entities and 1) prepare an institutional raise and 2) prepare a whitelisted on-chain auction. In either cases, we propose these newly issued tokens are vesting. If the decision is no then the DAO expends no further energy here and we continue as is.
More info on next steps, but irrelevant for VDP11:
VitaDAO could issue this to 5 select institutional and strategic contributors who wish to make large contributions directly to VitaDAOs multisig. The 5 contributors are confirmed by VITA holders. Multiple WGs believe that the expertise added by these entities far outstrips funding contributions. Enabling their contributions not only increases the DAO treasury but also its execution. Potential contributors have expressed that they cannot acquire VITA through current DEX smart contract systems or the community.
1) Contributors apply to 5 whitelisted addresses for a 10% vested fresh VITA mint.
2) Addresses choose between 1Y, 2Y or 5Y vest receiving v-VITA (earning APY, voting, but locked).
3) VitaDAO’s treasury and ability to fund research multiplies by an amt set by the 5.
Summary: VDP11 proposes to $VITA holders to include novel strategic contributors. Following approval and discussion, VitaCore could commence with 1) and define structure for 3). Should VITA holders decline, we would exclude incredible new enthusiasts who are unable to contribute via DEX systems. This is a strategic mint to include new partners, recognising that on a monteray basis VitaDAO has yet to deploy much of its treasury. However, Longevity WG may comment that it already has access to some of the best research worldwide currently searching for funding and a less conservative treasury approach would accelerate VitaDAOs impact.
Vitalians sit at the helm of a global neo-longevity renaissance - within months, our network has attracted some of the brightest minds in the field and we are just beginning. With VDP-11, we seek to rapidly accelerate this progress.
- Strongly Agree
- Agree (with revisions)