There are some ideas about LXP and token:
1. LXP management
What is LXP
LXP (LXPoint) is a temporary proof of work in LXDAO. Later LXDAO will issue Token, named LXT or LXC, Token is the main governance tool of LXDAO later. Before issuing Token, LXP is needed to record the workload of Builder and community members.
How to get LXP
Builder and community members get LXP by contributing to LXDAO. Activities that can be participated in are as follows:
- Participate in LXDAO’s R&D projects, such as MyFirstNFT
- Participate in working groups, such as governance group
- Join LXDAO’s core team
- Other temporary tasks, such as participating in Community Call
In these activities above, for tasks that require more time and energy input, such as development, writing, design etc., Builder can decide whether to take stable coins or LXP by themselves. For other tasks, priority is given to issuing LXP.
More detailed task description can be seen reference link.
The current LXP is recorded through Notion. Builder and community members have difficulty seeing their own holdings of LXP clearly. Contracts can be deployed on Polygon chain to record and issue LXP. This can reduce the cost of recording LXP and facilitate recording the time each Builder holds LXP.
Each month there will be dedicated personnel who will publicize the statistics of LXP and then record them into contracts.
How to use LXP
LXP represents proof of workload for Builder or community members. LXP cannot be transferred and can only be used by oneself. After holding LXP there are two uses:
- Exchange stable coins: LXDAO can regularly open up exchange of LXP for stable coins (USDT、USDC、DAI) from treasury. 1L XP = 1 stable coin To ensure that treasury funds are not squeezed out each time exchange is opened up exchange ratio cannot exceed 30% of holding LPX
- Get Token airdrop: Later LXDAO will issue Token holders of LPX can get airdrop And will calculate holding time of LPX when holding same amount of LPX longer holding time more airdrop you get after getting airdrop LPX will be destroyed LPX completes mission later incentive for Builder and community members directly use Token
Exchange stable coins can be done in contracts Later airdrop can be based on snapshotting contracts then calculate airdrop ratio
2. Token governance
LXDAO’s Token can only be used for community governance without any other functions.
As long as you hold Token you can participate in community voting Because there are also Builders who hold SBT in LXDAO when voting need to map according to certain way:
- Community members who only hold Token will vote according to proportion of holding Token
- Each SBT has different levels these levels need to keep making contributions in LXDAO to upgrade
- Different levels of SBT correspond to different amounts of Token specific amount needs to wait until after token issuance before determining
- Finally map all voting rights into proportion of token
refs:
[1] https://www.notion.so/lxdao/WIP-242c6134b7464601b498dee3c67d6032
[2] https://forum.lxdao.io/t/design-and-thinking-about-the-lxp-model/409/11
[3] https://forum.lxdao.io/t/about-the-airdrop-program-for-active-contributors/437
[4] https://www.notion.so/lxdao/LXP-Rules-80afdaa00f754fb6a222313d5e322917