After a long time of exploration, we have designed Tokenomics v1.0, which we will be publicizing to the community and exploring
Basic Information
- Token Name: $LX
- Total Volume: 1,000,000,000 (1 billion coins)
Details of the release will be discussed with the community and made public.
Proportion of allocation and release rules
Access
- Early Contributor or Participate in Private Placement
- Participate in community contributions and get airdrops by accumulating contribution values
- Retrospective Airdrops
- Eco-partners, etc.
Application Scenarios
- Governance
- Ecosystem utility tokens
- Membership and program incentives
Why do we need $LX tokens
- Governance: $LX tokens play an important role in governance, linking the right to govern with economic value. Enabling decentralized governance is made possible through a voting mechanism based on $LX tokens. In DAOs, governance tokens are a central way to enable decentralized governance, ensuring that the interests of token holders are aligned with those of the project. Decentralized governance makes an important contribution to the maintenance and upgrading of protocols and the funding of public goods, which is necessary to achieve the sustainability of public goods.
- Incentivizing Contributors: As an incentive, $LX tokens encourage contributors to contribute to the long-term value of LXDAO. Numerous active contributors have made outstanding contributions to the development of LXDAO and the public good. We strongly believe that any individual who contributes to LXDAO should be incentivized accordingly.
- Incentivize community-led growth: Tokens are an effective means to incentivize the community to further develop the project.LXDAO, as a DAO with a core focus on production and research, community-led project realization is key. And tokens can effectively incentivize the sustainable growth of the community and its projects.
- Access: $LX tokens can provide access to specific products or content, bringing additional rights and benefits to the holders.
- Fundraising: As a form of fundraising, $LX tokens can be used to start and implement projects. Almost every project starts with a good idea that requires some financial support.
With $LX tokens, we achieve multiple goals such as governance, incentivizing contributors, stimulating community growth, access, and fundraising, thus laying a solid foundation for the development of LXDAO and a thriving ecosystem!
What $LX tokens can be used for
LXDAO as a DAO to support the sustainability of public goods, we are committed to combining Web3’s new technologies and concepts to solve the sustainability of digital public goods and open source projects, ** the core goal of the token is to promote the sustainable development of public goods, ** in the allocation of funds, governance rules, projects and partnerships and other key decisions, the use of funds will be based on the sustainable development of public goods as a priority and benchmark. sustainable development will be prioritized and benchmarked.
- Participate in Governance: You can delegate $LX tokens to Buidler Card holders to increase the weight of Buidler Card votes and cast critical votes on proposals. (Note: Members who have made relevant contributions to LXDAO can apply to hold a Buidler Card, and then formally hold it after a community vote and have the right to vote on governance)
- Ecosystem utility tokens: $LX will be applied to the community as well as to various product applications, these application scenarios include, but are not limited to, special access to certain products or content, product paid services, product entitlements, and so on.
- Membership and Project Incentives: $LX will be used as an important incentive for community-led projects. When a proposal is passed, $LX tokens will be allocated as financial support for the project based on the content of the proposal, and incentives may include retroactive airdrops.
How do $LX tokens participate in governance
In token voting, there are often problems of monopolization or governance attacks by big players, and this problem comes from the dilemma of ‘one person, one vote’ and ‘one dollar, one vote’, and in the design of the vote, we want to take into account people’s concern about different issues, and at the same time Avoid the dilemma of “buying influence with money”.
Proxy system: Tokens need to be entrusted to an address with a buidler card to realize governance and voting.
Add secondary party voting design: The voting rights of $LX will be designed with the rule of secondary party voting.
How $LX tokens can effectively incentivize public goods sustainability
To the outside world, the Web3 ecosystem is now full of financial attributes, and we want to create a new order by building public goods.
What are public goods?
Public goods describe products that are non-exclusive and non-competitive.
Non-exclusive = a product or service that cannot be excluded from use by a specific individual or group of individuals.
non-competitive = a product or service whose consumption by an individual or group does not affect the surplus supply of others
| Name | non-competitive | non-exclusive |
|---|---|---|
| Public good | Yes | Yes |
| Personal goods | No | No |
| Club goods | No | Yes |
| Common resource | Yes | No |
A good must be non-exclusive and non-rivalrous to be considered a public good, common public goods are roads, street lights
Who is our public?
Our publics are everyone, but we should first focus on our most deeply knowledgeable and collectively relevant publics. As our focal public continues to expand, we should consider how we can involve the wider public in our decision-making. We should strive to provide financial support to those who are truly in need, otherwise the impact of the public interest may be limited, if not completely eliminated.
Focus
“How do we effectively incentivize public goods sustainability?”
In the first phase, the focus should be on spreading the model of conscience and communicating the value of public goods to raise awareness, form communities and processes, and build an initial vault
After the issuance of $LX tokens, $LX will be applied directly in the proposal and LXDAO will support the adopted public goods projects based on the proposal, as the public goods projects continue to grow and produce, the impact, the public goods value, and the value of the tokens, will become an important support to realize our sustainability.
$LX Token Incentive Mechanism for Public Goods
According to the proposal LXDAO new mission and direction, LXDAO’s strategic direction is to build open-source products, realize public goods sustainability, and promote Web3 Education
Public goods are necessary, but often out of necessity and disconnected from value capture, and are notoriously difficult to fund, and LXDAO will be an important supporter of public goods.
LXDAO’s support mechanisms for public goods include:
- Community Building Public Goods
- Direct Public Goods
- Public goods advocacy initiatives
- External Public Goods Collaborations and Resource Requests
- Some internal public goods needs (services, contributors)
Goal: LXDAO’s goal is to build an ecosystem of public goods, where $LX will be the base currency of circulation in the public goods ecosystem