January 11, 2021. Tokenomics by @wealthineer @darkroamer @abunft
Table of Contents
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Introduction Before starting I want to really thank @wealthineer for writing out the vast majority of the whitepaper as well as creating the smart contract. Without him the development of this project could not have happened — Abu
Introducing our MTTM-MA tokens, the first step to creating a truly decentralized and functioning ecosystem for MTTM managers and contributors, in the coming weeks we will be airdropping tokens to all current managers that have sent in funds to our treasury.
Do note that for this phase (Mid Jan 2022) We are going to be utilizing the ROPSTEN testnet in order to avoid Gas Fees on the network. The aim is to get feedback from managers and experiment on token functionality. In future, we will like to move to Mainnet or another L2 (this will be for community to decide)
Do note that the tokens are not able to be listed anywhere and have no value beyond the governance utility. They do not represent a security/currency or dividend of any sort.
The MTTM-MA token represents voting power and share of the MTTM treasury for the Manager Association. The token is issued monthly depending on the contribution of each manager to the treasury.
IntentWhen we initially started the Manager Associations, we had always wanted to build a decentralized system of tokens that would truly allow each manager to own their piece of the MTTM ecosystem. The token also helps streamline the association operations, namely by;
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Tokenomics
The amount of tokens each manager receives every month depends on the current value of the treasury, the current token outstanding, the value of the total contribution this month and the contribution of the individual manager.
This is how the token distribution each month is calculated:
At the start of each contribution period, a snapshot is taken of all the prices for the assets in the treasury and the manager contributions. Then the treasury value in $USD is calculated. The same is done for the total contribution of all managers as well.
The formula for the amount of tokens distributed in a month is:
For individuals:
With this setup, this method of distribution accounts for appreciation and depreciation of the treasury and does not dilute the share of the current holders.
People who are paying the monthly contribution late will be excluded from that month’s token drop. Cutoff date will be announced each month
For the initial Float of MTTM-MA Tokens, we are starting with 10,000 tokens and distributing to the initial core team who placed the first contribution of SLP/WETH into the treasury and built the infrastructure to house it.(Month 0)
This works out to:
The initial drop will calculate how the drops would have been based on past price data. Thereafter tokens will be issued monthly using this base 10,000 MTTM-MA tokens as a starting point
Voting power
Proposals can be put to voting by the members of the MTTM core team. The voting period will be announced together with the proposal. Each member has an equal amount of votes as MTTM-MA tokens are held in the voting wallet. The core team executes on the voting results but has a veto right. As a tool to collect the votes snapshot.org will be used.
Roadmap
What’s next? MTTM-MA tokens are our first foray into developing Phase 1 of the MTTM Ecosystem. Our goal is to create a sustainable and strong community for good within play 2 earn and Web3. Focusing on education, empowerment and structure.
Just to share some of the items coming in the pipeline
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FAQ
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Closing
As we move into a new chapter for the Manager Association, on behalf of the core team, we would truly like to thank everyone for their support and trust in the team. 2022 is a year of reorganization and structure and as MTTM solidifies itself as a premiere brand in the space, there is a lot of exciting collaborative projects that will really start to take shape. As our earliest adopters, we can assure you that it is going to be one hell of a ride.