Proposal: A $SOFT Token

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Hi frens, I think the SOFT DAO needs a token. Why:

  • better on-chain governance
  • lets the DAO reward or fund third parties, e.g. to launch new crypto projects

Here’s what I think you should do:

  • Symbol: SOFT
  • Name: ??? (Soft? Soft Token? Softies?)
  • Total supply: 1,000,000,000 (1 billion) Token features:
  • ERC-20 : a regular fungible token
  • OpenZeppelin’s ERC20Votes
  • lets holders opt in to governance
  • OpenZeppelin’s ERC20Permit
  • lets third parties use a signature instead of an allowance to call transferFrom() to save gas Notes:
  • Mintable: no
  • a fixed supply prevents bad inflationary decisions
  • Burnable: no - a fixed supply is easier to understand
  • Upgradeable: no - simple is good

The current DAO multisig here should own the tokens upon deployment: Safe

192 Likes

It’s amazing, it’s going to be a moon coin.

9 Likes

It’s very good idea, and I think to gain power voting should be a staking mechanism

5 Likes

The idea of our own token for the project is a good idea.
Except for one thing. If we gona use the token as power in voting system… Whales will be able to buy it and influence the direction of the project development…

Perhaps we could create some additional level of governance, with a higher priority in voting. Consisting of the current development team, supplemented by a wide range of adherents of the ideals of the project. To eliminate the monopoly of whales.

From my point of view, this will be the main problem. But there are also other points that raise questions… How to get around all the disadvantages\difficulties associated with token… for example, when the price of a token loses value, it also affects the reputation of the project.

Experts in tokenomics will tell you a few more points.

But I am SURE that by approaching the issue wisely, we can overcome all these pitfalls!

16 Likes

I agree, should be a limit of a voting power, minimal and maximal limit

3 Likes

This is great news! :+1: :+1: :+1:

6 Likes

Hmm $SOFT token is coming :eyes: I’m so exciting :fire:

7 Likes

I think we should be lauch token soon :slight_smile:

3 Likes

Nice. I’m waiting for this project long time. will be moon

3 Likes

LFG $SOFT token is coming! Can’t wait.

2 Likes

There will be disproportion if you will limit voting power of big players that will affect the price. And dont forget that nobody prevent ability of multyaccing for whale, so limitation will not work. I would better think about something like trade unions. Small holders can unite and vote, for example, for time limited reducing of voting power, of big player, if his desigions do not count interests of small holders. Or veto right if decigion unaxceptable for both sides. As a concept.

5 Likes

Couldn’t agree more, great idea!

2 Likes

it’s going to be a moon coin. I would be happy to join the DAO team. My discord: Zheezzy#6980

good news! can’t wait for tge. :heart_eyes:

Good news. I hope there will be an update soon.

1 Like

Hola. Hi everyone :raising_hand_man:

1 Like

Nice timing, Great success Great news!

3 Likes

Hello! Glad you’re with us!

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Hola bro. How are you?

1 Like

Excellent! How do you?

3 Likes