The long-awaited banana zone may now be upon us. But, with OttoDAO’s Pre-seed Community Token Sale on Juicebox (more bananas?) finally live, consider this your official welcome to the frog zone – building a common ground for both degens and regens to thrive together.

Read on for everything you need to know about the OttoDAO Token Generation Event (TGE); Why it matters, how it works and how to get involved…as well as the freshest LottoPGF alpha from the pond on the campaign.

OttoDAO’s Pre-seed Community Token Sale

Hot on the heels of DevCon 7, OttoDAO’s Juicebox campaign launched on November 21st. Contributors have until December 26th to pre-buy $OTTO tokens and be a part of the founding community.

The goal of the campaign is to raise 420 ETH (or if ETH pumps too much, something around $1.5M).

These funds will lay the foundation for decentralised R&D into future LottoPGF releases and other permissionless capital formation mechanisms.

The potential unlock with LottoPGF and other degen mechanisms to fund public goods is for both online and offline communities around the world to fund whatever serves their collective interests best, without relying on the politically driven or top-down agendas of governments, multilateral institutions, corporate social responsibility divisions or philanthropic organisations.

If the goal is not reached, early funders will be able to claim their ETH back directly on the same platform.

All I Want for Xmas 2024: Bringing back ICOs & $1.5M in a Token Raise

Set against the backdrop of a cypherpunk revival, and with record levels of liquidity pouring into crypto markets, the stars appear to be aligning for OttoDAO to decentralise the mission to build a self-sustainable & cypherpunk internet.

While the external conditions for launch look good, we’re most bullish on ourselves:

• LottoPGF’s tech stack and its integrations (more on this soon)

• The community that has built up around OttoDAO’s vision over the past year

• Our Product Market Fit in a public goods funding space that is still skewed towards resource allocation.

Thanks to this groundwork done by all the parties involved (Frogworks, Blockful, FLOC*, Zuzalu.city, Fire Eyes and many individual contributors) we see now as the time to raise.

Once we reach the $1.5 million target, we will set a timer for people to put in their final commitments, which can last for between 3 and 10 days because of the unruggable nature of the Juicebox Protocol.

After the campaign has closed, donors will have $OTTO dropped neatly into their crypto wallets.

OttoDAO on Juicebox: What to Expect

Xmas is a special time for LottoPGF. And this year is no exception.

In 2023, we launched our first lottery on Scroll’s testnet during a Madrid’s Christmas event, in parallel to “El Gordo” – the largest lottery in the world, celebrated in Spain a few days before Christmas.

So for our Juicebox campaign, we’re also doing something to celebrate the XMAS spirit. An advent calendar where we raffle prizes for people who pre-buy $OTTO. As if the token wasn’t enough incentive!

More importantly, LottoPGF v1 will launch short before XMAS and we already have a few partners aligned ready to deploy their holidays lotteries to fund different exciting causes.

$OTTO, the frogcoin

$OTTO in its early stage tadpole form is a governance token that will evolve to something more exciting. Because of the nature of the project, it will need to be decided by the community if the token takes that path, but the ideas circulating in the early community are frogish af.

But first things first, $OTTO is the DAO’s native utility and governance ERC-20 token on the Ethereum blockchain.

To get voting rights, holders can sign the DAO Constitution and lock their $OTTO in the $LOTTO contract (see what we did there?). Locking up $OTTO will unlock your unique DAO membership hat (brought to you by Hats Protocol), which will make you an official member of OttoDAO (Marshal Islands DAO LLC).

$LOTTO holders will be able to create and vote on proposals or delegate voting power to other DAO members to vote on your behalf.

The governance will decide how to use the Treasury (ETH and $OTTO) to support further versions of the LottoPGF protocol, as well as other degen mechanisms that fund public goods.

Then we get into the DAO itself…

Tadpole: The DAO’s first steps

Once the raise is finished, the initial governance setup will launch on nance.app.

The initial setup will consist of a Snapshot voting system, a Safe multisig treasury with members from different teams contributing to projects and a governance forum on the DAO’s discord server.

Here are some of the potential initial proposals to fund:

• Development of LottoPGF v2, which aims to have feature parity with traditional number lotteries (except they can be used with ANY token, including your favourite memecoin) and a modular design.

• Design and development of OttoDAO’s onchain governance beyond multi-sig.

• Marketing & BD activities to proliferate the usage of LottoPGF v1

• Development of RafflePGF - useful for one-time fundraisers instead of constant inflows of funds.

The Pond: $OTTO’s token distribution

The token allocation will be distributed as follows:

• Juicebox crowdfunding: 20% Not everyone can contribute their skills to the DAO. The community also needs a treasury to fund parties who want to further develop the protocol, research degen mechanisms to fund public goods and help with adoption. For this reason, we’re using Juicebox to drive membership for early contributors, adopters and advisors within the DAO.

• Early contributors & advisors: 17.4% OttoDAO wouldn’t have been possible without the work of many early contributors and advisors who contributed to the open source code of earlier iterations of the protocol, developed front-ends to access it, designed the governance roadmap, created the brand, grew LottoPGF’s social media accounts, gave product advice or helped with legal and incorporation advice, amongst other roles. This allocation rewards them for their diverse but highly valuable contributions.

• Community Allocation: 62.6% While any final proposals will go to vote in the DAO, we are currently considering the following distribution for the community allocation:

  • Ecosystem Fund: 25% The ecosystem fund will make the DAO attractive to builders, researchers, evangelists and other important players who want to contribute to the development and proliferation of degen mechanisms to fund public and, of course, the (memetic) reproduction of Otto the frog.

  • Emissions & Liquidity: 25% This portion will be exclusively reserved for emissions of the protocols developed by OttoDAO, as well as liquidity. While the mechanism design of the protocols is yet to be proposed and built, there are some initial discussions on what this could look like – reach out to join the discussion!

  • Airdrops: 12.6% We are considering this airdrop allocation to incentivise the adoption of protocols developed by OttoDAO, and reward the early contributors and participants in the past year. This is also aimed at highly aligned communities. For example, 1% of the token supply will be pledged to Protocol Guild.

The token supply will be automatically determined based on the amount raised through the Juicebox crowdfunding campaign.

OttoDAO Wants YOU

OttoDAO’s Preseed Community Token Sale is live now on Juicebox! Cement your legacy as a founding DAO member onchain by contributing to the raise.

Let’s unite degens and regens in the infinite pond. Let’s make public goods sustainable with degen mechanisms, and the DAO successful by building a factory for capital formation cryptographic primitives. Get $OTTO here, and live your best frog life in the infinite pond.