The Demand is rooted from participation in the governance process, determining upgrades to the protocol or allocation of resources, and supply is the result of the tokens eligible to participate in the governance process. Establishing fundamental value via governance incorporates seven elements of economic design:
- Scope of Decisions
- Policy Research & Development
- Proposal Process
- Information Distribution Systems
- Decision Making Procedures
- Implementation & Property Rights
First Rollout Phase
These are the measures the core Sonr team will be undertaking prior and during test-net deployment.
Build a loyal community of token holders that represent our platforms stakeholder groups.
- All of our existing token holders (this includes our founder and early investors) will be staking their Sonr Token in order to be incentivized to hold tokens and participate in voting
- We will be actively networking with DeFi projects, blockchain service providers, and etc. in order to participate
We are under the process of creating a dashboard in order to provide key metrics to our stakeholders
- Technology: Pricing, total fees paid, total storage used, uptime
- Governance: Identities, proposal outcomes, community participation
Our initial polling system will be token weighted and not enforceable, in order to build engagement.
- Users will submit qualitative updates to the system and have them up/downvoted
- The core team will then assess the submissions and select viable community suggestions into upgrades
- Along side this, our team will locate and commission the development of a proposal for any technical upgrades without enforceable code proposals
- We will be able to provide clarity, external security, and in applicable cases the economic evaluation from the impacts of proposals to the community.
Second Rollout Phase
Phase 2 will be underway in the months prior to main-net deployment, along with an extensive security audit.
We will be introducing an on-chain, executable code-based governance system in stages with majority rule voting.
Stage 1: Grants Program
- Incorporate community voting for grant recipient selection
- Allow users to submit proposals for grant allocation
Stage 2: Subsidies and Rewards
- Proposals to update subsidies and rewards can be submitted by Core Sonr Team or third parties
- Core Team will be responsible for considering funding security, and economic audits for proposals
Stage 3: Technical Upgrades
- These include pricing, security, and bug fixes
- Proposals will be spearheaded by the Sonr Team and/or its delegates
When on-chain governance has come to fruition, the core Sonr team will be also maintaining the polling-based system with subsidized development to minimize barrier to entry. This will be incorporating governance within the Motor Nebula Widget itself.