From the incredible engagement with KONG Land at EthDenver, I believe that we should leverage the ~4600 $CTZN token we have in the KONG Land treasury to recruit new $CITIZENs in several ways:
1. Service to KONG Land
There is a small number of people who are not $CITIZENs today but have made significant contributions to KONG Land. I believe that these people should be offered $CTZN for their contributions via a regular recognition event (e.g. up to 10 $CTZN once per quarter). I believe that this should be the most difficult means of obtaining citizenship and may require a KONG Land-wide vote to begin with, at least until a Senate or other governing body is formed.
These $CTZN recipients should be nominated, and only after internal polling added to the Snapshot for full proposal to the DAO.
2. Recruiting at Hackathons
We should set aside some $CTZN to be given as prizes for teams at hackathon events such as ETHGlobal, ETHDenver, etc. This could involve specific use of KONG Land chip technology in a project, however, I don’t know if that is necessary.
3. Open Recruitment via Market Sale
While I believe this is the most controversial point, I believe it’s still important to explore direct sale of $CTZN as a means of recruitment. I think that we could limit these sales in time and size (e.g. during a conference) so that those interested in joining and participating in KONG Land immediately after learning about it from $CITIZENs could do so.
I believe that recruiting $CITIZENs based on service is the most critical task for us to tackle immediately via a Snapshot proposal. Based on the discussion here, I would hope to scope an initial nomination process, maximum number of $CTZN we would distribute and how frequently. In an effort to reduce the overhead of multiple votes, I believe we should combine this with an initial list of recruits.
On the service to Kong Land model - I strongly support this. We’ve talked about complex models for immigration policy to Kong Land, but at this early stage my suggestion is that we establish a subcommittee that acts to onboard a small number of citizens on the basis of service to the DAO. We can limit the number of citizens they onboard in any given period, and draw the committee membership from the community as widely as possible.
I’m in full support of 1 & 2, and I’m directionally supportive of 3. The big Q in my mind is how to establish a fair market price for $CTZN? Given that there is a limited number of total tokens (4.6k) and that we’d be limiting the sales windows and # of tokens made available during each sale, there will likely never be enough of a liquid market to drive stable organic price discovery. Ideas to establish less-volatile $CTZN pricing:
- Hold a governance vote before each sales window to establish the USD equivalent price of $CTZN used throughout the sales window.
- Establish a peg to $LAND at a specific ratio for the initial sales window (ex. 100k $LAND <> 1 $CTZN). Hold a governance vote before each subsequent sales window to re-establish the ratio.
- Sell the $CTZN via a standard or reverse dutch auction.
For 1 & 2, apart from the initial sales window, we’d evaluate the sales metrics of the previous window to triangulate a fair market price and # of tokens to sell during the next window.
For 3, the dutch auction mechanism eliminates the need to establish a fair market price in advance; however, we would still want to evaluate the sales metrics of the previous window to triangulate on the # of tokens to sell during the next window.
I’m excited to nominate a few contributors to receive citizenship; let’s get this rolling!
Agreed that 3 is a tricky to solve; I like exploring this area further for a future proposal.
The copper launch curve on balancer is quite nice:
Essentially it’s a dutch auction, but every time someone buys a token, its price goes back up, scaled based on how much time is left in the auction.
Following up here, and opening up for comment:
– I propose we create an Immigration Committee which consists of 5 $CITIZEN NFT holders
– The committee may recognize/recruit $CITIZENs on an ongoing basis
– The committee will be allowed (but not required) to issue 10 $CTZN per quarter (non-cumulative) with the mission of rewarding only those with the strongest ties and commitments to KONG Land (e.g. they have performed some service to KONG Land despite not being a $CITIZEN today)
I might not be the best person for this for a number of reasons ie not available enough, but I am happy to be boots on the ground for some physical Miami recruitment. There are growing communities/events/hackathons there to recruit. Also, some physical stuff going on. Spoke with a project building the POS systems for Miami City Coin.