A DAO to define the monetary policy of the Trojan token.
Is it an interesting idea to create a DAO to control the flow of funds towards a bonding curve, for the isuance of Trojan tokens? The tokens would be fully liquid for any holder to cash-out of the BC, in exchange for Ether. However only the DAO would have the ability to mint new tokens from the BC, and allocate funds into the reserve pool
The tokens will be used to continuous fund a pool of capital to be cover expenses of real-world labor, as payment for fuelling artistic work within the ecosystem, effectively offering a degree of “credit” to participants.
The community currency can be used to bootstrap the ecosystem, and add further interesting incentive layers. Additionally a buy-sell spread “community tax” can be applied.
Goals: A continuous token sale vetted by the community. Mitigates speculative buying (you must pass the rigorous vetting process of proposal voting and define how you are bringing value to the community). Like a DAICO for a “continuous organization”. Actually more like a “DAICO in reverse”, where the holders (who have already proposed how they will spend their funds) get to vote on deciding who next to allow to buy-in.
Any changes to the reserve ratio or the other curve parameters would also be decided on by the DAO.
Paired with DAO governance, bonding curves unlock new opportunities to redesign the way communities govern and fund organizations, resources, and commons. Members of the system can use their tokens to govern (vote, decide, stake) the allocation of capital from the Funding Pool.
The result would be a “Monetary Fund” governed by a DAO, through rational (or irrational) incentive-driven, collective control over the supply of money.
This is a concept that Haythem and myself have been hacking at for quite a while: https://github.com/haythem96/bc-moloch-fork/tree/master/contracts
Inspired also by this article:
And of course, drawing the other work being done around BC, such as Continuous Organizations, and the work done by CommonsStack and Aragon Black team
Dropping this idea here, so as to explore further