VDP-94 Proposal to Reallocate VITA Tokens

[Taliskermalt]

Summary

In VDP-67 and VDP-72 further token allocations have been governed for distribution to community members over the next 4 years. Meanwhile, the original 10% offered to the community under VDP-3 has been exhausted and a further minting of tokens is required to satisfy ongoing working group allocation needs.

Rather than minting more tokens into the circulating supply, and given VitaDAO is not actively seeking more strategic contributions, it is deemed advantageous to re-allocate the remaining tokens already minted under VDP-11 and deploy them in partial satisfaction of VDP-72 obligations and deferring minting more tokens in the near-term.

Team

Todd White, Alex Dobrin, Paul Haas

Motivation

The proposal VDP-11 contemplated a minting of up to 10% of VitaDAO’s total token supply for distribution to strategic contributors who were willing to contribute resources to VitaDAO.

Subsequently, VitaDAO was successful in fundraising $4.1m to continue funding operations and investing in research. This consumed approximately 6.52% of the 10% minted through VDP-11.

In VDP-67 and VDP-72 further token allocations have been governed for distribution to community members over the next 4 years. Meanwhile, the original 10% offered to the community under VDP-3 has been virtually exhausted and a further minting of tokens is required to satisfy ongoing working group allocation needs.

Rather than minting more tokens into the minted supply, and given VitaDAO is not actively seeking more strategic contributions, it is deemed advantageous to re-allocate the remaining tokens already minted under VDP-11 and deploy them in partial satisfaction of VDP-72 obligations and deferring minting more tokens in the near-term.

Specification

This proposal seeks to reallocate 2,234,990 VITA from use as contemplated in VDP-11 to service the governed allocations in VDP-72.

Implementation

If this proposal passes, the above tokens will be re-deployed in accordance with VDP-72 governance. No further tokens will be available for strategic contributors without further governance.

For further clarity, if this proposal does not pass, additional tokens must be minted to satisfy VDP-67 and VDP-72 obligations.

Success Metrics

• Resolution of near-term token needs under VDP-72

• Reduced need to increase minted token supply.

• Agree
• Revisions Requested (Detail in Comments)
• Disagree

[bparlan]

It is important to keep inflation rate low in tokenomics to not regret about it in the future, just like every government around the world nowadays It sounds a success where only %65 of VDP-11 is consumed, and still got %34.8 worth value that can be used to service governed allocations in VDP-72.

[bowtiedshrike]

Long term, does this mean governance will continually require new tokens to be minted and/or reallocated?

Will this allocation cover the next 4 years, and if so, what happens after that? If not, is the plan to mint more tokens?

[Taliskermalt]

VDP-72 governed token allocations for the working group contributors for the next 4 years. So we have governance to mint as needed to satisfy those allocations.

That said, the intention is to only mint as needed. VDP-94 will limit the need to mint more tokens for VDP-72 uses for 9-12 months. After that we will need to mint more tokens to satisfy VDP-72 in subsequent periods.

Other initiatives may require VITA, but those will require seperate governance anyway.