Blockswap DAO Governance Overview
Blockswap DAO Initiation
This is the initial iteration of the Blockswap DAO. The DAO relies on the community to create, release, and maintain Blockswap Network protocols and their associated toolings necessary to support the adoption of Blockswap Network. The function and purpose of this DAO will develop and change over time as more of the community decides to provide input. The DAO has adopted the ERC20 token “BSN” for its governance. As the DAO-powered network evolves through stakeholder governance, the usage of the token will evolve with it.
It is described as the ‘initial iteration’ because DAO-based governance is a nascent and evolving space that needs progressive amendments. It is likely that the needs of the community will change and develop over time.
BSN Token Contract Address: 0x534D1F5E617e0f72A6b06a04Aa599839AF776A5e
Blockswap DAO Address: 0x8869A94df9200C75116A285e12E85C24179129E1
Blockswap DAO will begin with an integration event referred to as Community Integration. The goal of this is to ensure a decentralized and motivated set of individuals are onboarded to the DAO. It’s imperative that proper actions are taken to balance the short-term incentives with the long-term vision.
BSN Token Distribution
Token Allocations
- 53% Blockswap DAO
- 6% Genesis community onboarding
- [Communitynet, DevNet, CIP testing]
- 47% DAO treasury (5 year emission begins January 2022)
- Year 1: 30%
- Year 2: 25%
- Year 3: 20%
- Year 4: 15%
- Year 5: 10%
- 6% Genesis community onboarding
- 47% Blockswap Foundation
- 25% Private investors (all current & future)
- 2% Advisors
- 20% Core contributors (all current & future team with 3 year vesting)
Update Dec 24, 2022: A typo in the pie chart was fixed.
Integration Event
Blockswap DAO is a network DAO fostering the growth and adoption of the protocols which it manages. Without protocols, a network DAO has no basis for existence. Therefore, core contributors will release initial protocols. Without the proper distribution of tokens, a network DAO cannot operate with a high degree of sybil resistance. Therefore, the focus of tokenomics will be to onboard the right mix of stakeholders as DAO members; They will be represented as BSN token holders.
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6% Genesis User Onboarding and DevNet Rewards
- Genesis User Onboarding - It is proposed that those who are holding cBSN be given 1:1 conversion of their tokens cBSN:BSN. SHB allocated at the rate of 1:2100 SHB:BSN. This community assisted Blockswap Network in acquiring crucial data around the Stakehouse protocol. Proposal here.
- DevNet Rewards - These are users who helped test the mainnet protocols in a sandbox environment. More info here.
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Up to 6% Mainnet Community Integration - This is for users who are participating in Blockswap protocols in mainnet. More info here.
Protocol Deployment
During Community Integration, it is imperative to have protocols available to users to determine who the core community is. The core contributors are entrusted to release the below protocols to mainnet.
Stakehouse Protocol
Stakehouse protocol is in a code freeze. It is designed for composable ETH staking and modular Ethereum blockspace. More info here.
Common Interest Protocol
The first release of the Common Interest Protocol will be a limited release; It can be found in Stakehouse to recover validator signing keys, and to ensure that actors who want to uphold and manage the Stakehouse protocol remain present.
Gateway (Ethereum to Optimism)
Gateways allow for the transfer of tokens between blockchains without a bridge. It will be moving to audits in Q4 of 2022.
Notable Parties
The DAO Community
Anybody who holds the BSN token is part of the Blockswap DAO community. Without the community, the Blockswap DAO would not exist.
Core Contributor
Blockswap Labs is a non-privileged core contributor. The team can vote with their vested tokens. Labs is a placeholder for continuity prior to sufficient decentralization. During the
Community Integration, the Labs’ and contributors’ token allocation remains locked and remain neutral until a more decentralized governance structure has developed. The contributors allocation has a standard vesting period of three years.
Blockswap Foundation
To preserve its neutrality, Blockswap Foundation will not be a voting party. Their tokens will be default non-voting. The Foundation is neither party to nor has any power to control the DAO; The Foundation empowers the DAO as the governance structure by donating 53% of BSN tokens for the long-term success of the DAO; They are a steward of the DAO.
Getting Involved
Become a Solo Staker
Staking with Stakehouse is the easiest way to get involved.
Test Future Protocols
Blockswap will release additional protocols including the upcoming Gateway for Optimism.