Wallets and ECO Distribution
Written by Worldland DAO Treasury
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Goal: In this article, we aim to explain the Worldland coinomics, give the wallet addresses for the DAO, and illustrate spending made so far.
Background: Worldland is a sidechain of Ethereum [1]. It has its own consensus mechanism and mint its own unique coin named as WLC.
TMG is 40,996,800.
The total number of WLCs minted on the day of August 8th, 2023, at the genesis block of the Worldland Seoul network is 40,996,800. We will refer to this as TMG from now on. TMG is justifiable because of years of funding and R&D effort by INFONET research lab at GIST [4] — we will prepare a separate article for this topic later on. The TMG is first divided into the long-term endowment (LTE) fund and ecosystem development (ECO) fund, 20% and 80% respectively of the total. As specified in the Articles of the Worldland DAO [3] (referred to as The DAO hereafter), ECO fund will be used to develop the ecosystem of the Worldland mainnet for the duration of 5 years [4]. Note that YR 1 (Year 1) is the period from August 8th, 2023 to August 7th, 2024.
Table 1: Total number of WLCs minted at the Genesis block. First broken down into LTE fund and ECO fund, and then ECO fund is further divided into yearly ecosystem development allocations.
There are five DAO Treasury Accounts.
The wallet addresses for LTE fund, the first year (YR 1) and the rest of four years (YR 2345) are given in the following table.
The two wallet addresses for YR1 is given below. The first one YR1-Q234 shows the allocation of fund for Year 1 except that of the 1st quarter. The second one YR1-Q1 the allocation of fund for the 1st quarter of Year 1.
Using the same naming convention, the first quarter’s airdrop account has been created and is given below. For airdrop, 5% of a quarter fund is allocated.
Conclusion
The five wallet addresses for the Worldland DAO fund are given in this article. Up to date, the total amount of ECO fund spent since its inception is 8,000 WLCs. All of 8,000 WLCs have been spent for airdrop. Any other ecosystem development award has been given out so far.
References
[1] The Worldland Project Web Site: https://worldland.foundation.
[2] Articles of the Worldland DAO, https://medium.com/@heungnolee/articles-of-worldland-dao-ver-1-0-f34fd310c5bf.
[3] Worldland Ecosystem Improvement Proposals: General Areas of Interest, https://medium.com/@heungnolee/worldland-ecosystem-improvement-proposals-f170f0c175fe.
[4] INFONET laboratory at GIST, https://heungno.net.
