tl;dr: BurgerDAO is a community of food and web3 enthusiasts building the first decentralized burger franchise. Through the $BRGR token, BurgerDAO is trailblazing real world applications of crypto and paving new paths towards a more equitable food industry.
The $BRGR token is a key component of operating BurgerDAO. Beyond managing governance of the DAO through voting mechanisms, the distribution allows for a continuous and self-contained model that incentivizes and rewards key participants and aspects of the restaurant ecosystem (creator, facilitator, and consumer).
To learn more about the overall concept please read this article. The following contains operational details of the DAO and a brief overview of the mechanics of the $BRGR token.
While we strive to make as much of the BurgerDAO decentralized, a lot of initial business and operational decisions will require significant core team discretion. We intend to use a progressive decentralization model where we gradually increase the number of decentralized components as BurgerDAO grows and matures.
The fundraising is currently live on Juicebox where anybody can contribute any amount up to a total of $20,952,380. All funds raised will be stored in a multisig treasury consisting of the core team. Once an initial sum of $1,000,000 in $BRGR tokens are acquired, one of the first votes will be on a proposed BurgerDAO constitution, a set of rules and guidelines for how the DAO should be governed. For an article to pass, it will required 67% approval and a quorum of 5% of total tokens.
Since the DAO will be a profitable and taxable business, BurgerDAO will operate as Wyoming DAO LLC to fulfill tax obligations, and function as a legal entity distinct from BurgerDAO individual members or token holders. Profits from operations will be used to re-acquire the DAO’s own $BRGR tokens to further incentivize governance participation. These buy-back based tokens cannot be used for voting and can only be allocated through successful governance proposals.
The contract address for $BRGR is 0x6eA929B78Dd8D8124bfF2A3034EE415dF099229a, and the token distribution is as follows:
The 20% designation for the Core team will be reserved and allocated to individuals that have contributed significantly to the BurgerDAO. Beyond the founding team, we strive to get representation from each key part of the restaurant ecosystem:
These tokens reflect the team’s equity ownership of BurgerDAO and will be subject to a lock-up with a vesting schedule.
Unique to BurgerDAO, we strive to add more equity to an industry that often does not treat its constituents and workers fairly in terms of financial rewards. Because of this, a high 20% designation will be earmarked for creators and facilitators. As an example, rewards-based incentives structure can be executed as follows:
A creator NFT representing unique recipes and a facilitator NFT representing an individual restaurant / ghost kitchen will be used as a blockchain-based proof of membership in the BurgerDAO protocol.
Primarily reserved for growth incentives, BurgerDAO participants earn from a pre-designated 10% pool of tokens for value-added behaviors and actions. The distribution will be based on:
The remaining 50% of $BRGR tokens is allocated to the DAO. Along with the initial purchases from Juicebox and the NFT purchases, the tokens can also be allocated for community-focused initiatives to help the development and growth of BurgerDAO. At the discretion of the DAO, this could also include donations made to funds that directly help restaurant workers (ie. Southern Smoke Foundation, James Beard Foundation, Restaurant Employee Relief Fund, and more).
Over the next few weeks, we will be collecting feedback from the BurgerDAO community to refine and finalize a tokenomics model that properly balances incentives amongst all participants. To contribute to the community, join our discord:
keep an eye out of updates in our twitter account:
purchase $BRGR tokens on juicebox to participate in the DAO:
and view/comment on our public BurgerDAO workspace: