Monastery DAO Tokenomics: DAO ICO & Governance

The Monastery DAO is preparing to open its doors to the public but first, we needed to ensure all the Tokenomics were in order.

The most important aspect when reading this entire document is to understand that the initial coin offering for the DAO will be granted to Immortal Monk holders. We are about to dive deep into the tokenomics and the plan with liquidity that will also be allocated to Governance.

There is much we have to cover so let us get right into it.

Monastery DAO ICO + Liquidity Plans

We’ve been bouncing ideas for almost 2 weeks now and hired a few firms to consult with as well. We’ve even looked into previous launches from other notable DAO’s.

The token will be launched in traditional ICO format. Here is everything you need to know.

Total Presale Supply: 120,000

Presale Price: $10 / Token

Total Presale Liquidity: $1,200,000

Public Price: $20 / Token

Now we’ve decided to do something interesting with the liquidity since the ENTIRE funds that are generated through the ICO are specifically used for liquidity.

80% ($960,000) ICO funds will be allocated into the Monastery LPs so that the tokens become liquid upon unlock period (more on this upcoming).

20% ($240,000) ICO funds will be allocated to Governance liquidity. We want to ensure there is liquidity for the governance tokens as well.

These are the basic tokenomics for the ICO / DAO tokens.

The token ticker isn’t released yet to ensure that there aren’t any scammers who try and create a copy of the token and scam the community.

Token Lock Time Period

After the ICO there will be a lock time before investors can liquidate. The time period will be 15 days. The reason we are doing this is because we want to ensure that the liquidity isn’t drained from the opening of the Monastery.

It would be catastrophic if the moment we opened the doors the entire liquidity was drained due to participants being up 100% immediately.

The presale will be initiated 24 hours before the Monastery opens to the public and then the 15 days starts the moment the doors open.

Governance Tokenomics

The governance tokens were the hardest to compile in regards to structure because we want to prevent whales from manipulating the decisions of the DAO.

Max Supply: 550,000

1 Monk = 100 governance tokens

The tokens will be claimable by linking your wallet to the Monastery Portal. It will recognize how many Monks you hold and allocate the correct governance tokens claimable to your wallet.

That means there is a maximum amount of 250,000 governance tokens that will be claimable.

What about the other 300,000 governance tokens? Here is how we’ve structured them:

15% (45,000) — Rewards for staking Monk in Governance Staking pool.

20% (60,000) — Open market

65% — 5 year vesting to public = 13,000 / year being released

$240,000 immediate liquidity in the governance LP contract based off of 20% from the ICO proceeds.

There will be a 30-day lock on being able to liquidate governance tokens upon claim so there is no draining of liquidity for governance.

The ‘Whale’ In The Room…

We’ve been trying to think about how to implement an anti whale mechanism for governance.

The problem with this is that claimable tokens can be claimed upon possession of a Monk. If a current whale wants to (if we set up restrictions of total governance tokens / wallet) they can simply manipulate the protocol by creating a new wallet(s) and then transferring the Monk to the new wallet and claiming the tokens.

They can then just cast their votes via all their wallets to manipulate the system that way.

As of right now, there is no limit to governance tokens / wallet. **THIS IS SUBJECT TO CHANGE AS WE CONTINUE TO BUILD.**

ICO Launch Information

We are going to announce a date and a time for the ICO. This will be a fair sale and there won’t be a cap (subject to change).

We will release the information needed to all verified Monk holders inside the Monk society discord. You must make sure you link your wallet inside the discord to ensure you are in the society.

More Information Upcoming

We’re constantly updating and making adjustments to the tokenomics and this is what we’ve been sitting on and contemplating as well.

HOWEVER, we are going to gauge the community feedback and see the thoughts and opinions of others.

Every opinion is valid and we want to hear them.

Becoming A Monk Is Simple…

If you are interested in participating in the upcoming ICO presale and other incredible announcements we are preparing then make sure you obtain an Immortal Monk.

Check the official OpenSea collection & get one while you still can!

Blessings,

Immortal Monks Team

Official Website: https://immortalmonks.com

Official Discord: https://discord.gg/immortalmonks

Official OpenSea: https://opensea.io/collection/immortalmonks