Now that DAO has approved the use of $SOFT tokens we think it’s important to discuss use case(s) and utility. Ultimately it will be up to the DAO to determine $SOFT’s final form and usage.
It would be great to hear from the DAO and greater community re: suggested token utility; we welcome your feedback.
Based on Forum feedback and community discussions we have (so far):
Token sale whitelist allocations
Tokensoft remains an industry leader for compliant fair launches of new tokens. As our platform continues to grow, we recognize the need to offer allocations to our community members. Sometimes it can be difficult to secure your spot, and we want to ensure that those who have supported us from our early days remain able to participate as we grow. The $SOFT token could function to offer guaranteed allocations in Tokensoft sales. By reserving a set of allocations to holders, we can ensure proper incentive alignment.
In our quest to Decentralize Everything, we recognize the importance of community contributions. In the spirit of decentralization, we hope to see robust contributions from the community. The $SOFT token could serve to incentivize community contributions via ecosystem grants, rewards, and bounties to developers, third-party service providers, and even individual users who enhance the ecosystem. Ultimately, the specifics of how these incentives are distributed will be up to the community via DAO governance. We hope the DAO will consider this use case.
Since 2017, a lot of the meta in crypto and web3 has revolved around token sales. While we expect this trend to continue, we also see a number of new projects launching that bypass this step entirely. This can be done by community airdrops and other rewards systems. We believe it’s critical to offer access to these rewards for our loyal community. $SOFT token allows members of the SOFT DAO to cash in on some of these benefits that we increasingly see in our industry.
We’ll aim to solve DAO governance challenges across the board. After careful consideration, we’ve settled on a flexible solution known as Genesis Governance. With Genesis Governance, voting tokens have an increased voting weight only while locked in a genesis vesting contract. This method of governance identifies and rewards those most aligned with the DAO’s long-term success, increasing voting power for (a) those present when a project begins, before markets exist, who tend to be mission-driven rather than profit-driven, and (b) those who hold long-term (rather than trade), who tend to care more about long-term project success than short-term price action. We believe that this framework offers the best trade-offs to ensure long-term viability of the project.
Community feedback will be aggregated; uses cases which receive the most likes in reply to this thread will be elevated to the DAO/Core Team for evaluation.
Approved Use Cases will be put to a vote Wednesday October 19th, 2022 at 9pm UTC.