Proposal Date(제안일): July 24th, 2024
Voting types(투표 유형): single choice voting
Voting period(투표 기간):
July 26th, 2024, 22:00PM ~ August 2rd, 2024, 22:00PM Korea Standard Time
Voting URL(투표 URL): https://dao.worldland.foundation/WLDaoVoteV2/1
Proposer(제안자): Hyoung Joong Kim (WorldLand DAO Advisory Board Chairman)
Suggestions(제안 내용)
- Introduction
The number of WLC (WorldLand Coin) TMG (Total Minted at Genesis) is 40,996,800 [1], minted on August 8th, 2023. The 20% and 80% of TMG WLCs were allocated to the Long-Term Endowment (LTE) Fund and Ecosystem Development (ECO) Fund, respectively [1]. The expenditure of the ECO Fund was scheduled for five years to develop the WorldLand mainnet ecosystem. The first year was set to run from August 8, 2023, to August 7, 2024, during which 30% of the ECO Fund was to be made available to project developers.
An overview and details of WLC coinomics are in memo [1]. Three existing issues in the current situation exist as follows.
1. The purpose of the LTE Fund was not specified in this memo.
2. No expenses were allocated for mainnet development, improvement or maintenance, promotion, exchange listing for WorldlLand coins, community operation, advisory committee etc.
3.The 30% of the ECO Fund allocated in the first year also has not been distributed at all as planned. - Suggestions
To address these three existing issues, it is proposed that TMG volume must be reallocated and the coin distribution schedule must be adjusted as follows.
1. After the ECO Fund distribution is completed, the LTE Fund must be used to establish the WorldLand Foundation. The WorldLand Foundation should be responsible for maintaining and managing the future WorldLand mainnet and its ecosystem.
In the current situation, 80% of the total TMG, excluding 20% for the LTE Fund, shall be allocated to the ECO Fund. It is proposed that half of the ECO Fund shall be reallocated as a form of Operation Fund.
2. The 40% of TMG, called Operation Fund, shall be used to cover the necessary expenses for mainnet development, improvement or maintenance, promotion, exchange listing for WorldLand coins, community operation, advisory committee, etc. The use of the Operation Fund shall be entrusted to LiberVance, the creator of the WorldLand mainnet, which manages the mainnet until the WorldLand Foundation is founded.
The remaining 40% of TMG shall remain as the ECO Fund.
3. The first-year distribution of the ECO Fund shall be adjusted from August 2024 to July 2025. The distribution of the ECO Fund for the 2nd, 3rd, 4th, and 5th years shall be adjusted in sequence. - Conclustions
It is expected that the above three adjustments revitalize the WLC ecosystem.
References
[1]. https://worldland-official.medium.com/worldland-coinomics-d3ce388fa4d7
