The Web3API token holders, known collectively as the "DAO", are responsible for stewarding the Web3API ecosystem. The DAO controls the:
- Treasury
- Token minting
- DAO configuration
- ENS domain (web3api.eth)
In the future, it is anticipated that the DAO will also govern:
- Web3API repositories
- Web3Hub platform deployments
- DAO-verified APIs (hosted at web3api.eth subdomains)
Interested in getting involved?
- Start out by joining our Discord or reaching out to the point person for your area of interest:
| Domain | Points of Contact |
|---|---|
| Web3API Core Client | Jordan |
| Web3API Standard | Belma, Jordan |
| Web3Hub | Andrew |
| Landing Page and Branding | Roberto |
| Twitter and Substack | Ingamar |
| Launch Partners | Steff |
| Tokenomics | Phil, Ori |
-
Submit a proposal on snapshot using our template and compensation guidelines (below).
-
If your proposal is accepted, add the details here and make sure to update this with details as you progress (you are also encouraged to regularly share updates in community chats and calls).
-
Submit payment proposals on Aragon at the delivery milestones laid out in your proposal.*
* Please keep in mind that all final decisions must be approved by the DAO.
Here are some guidelines for making your spending proposals. These guidelines are just guidelines, as all final decisions are made by the DAO.
Choose an hourly rate commensurate with your level of relevant experience and desired weighting between USD and W3API.
| Level | Years of Experience | Option 1 | Option 2 | Option 3 | Option 4 |
|---|---|---|---|---|---|
| Junior | 0-2 | 0.05 W3API, $50 |
0.125 W3API, $35 |
0.225 W3API, $20 |
0.375 W3API, $0 |
| Intermediate | 2-4 | 0.06 W3API, $65 |
0.15 W3API, $50 |
0.27 W3API, $35 |
0.45 W3API, $0 |
| Senior | 4+ | 0.07 W3API, $80 |
0.175 W3API, $65 |
0.315 W3API, $50 |
0.525 W3API, $0 |
Here is the projected global burn rate that builder teams and token holders should consider when drafting and passing spending proposals. These are projections that are subject to change.
| Period | W3API |
Stablecoins | |
|---|---|---|---|
| Q4-20 | 828.969 | $79,193 | actual |
| Q1-21 | 970 | $167,377 | projected |
| Q2-21 | 1,353 | $240,721 | projected |
| Q3-21 | 1,392 | $248,244 | projected |
| Q4-21 | 1,456 | $259,527 | projected |
| TOTAL | 6,000 | $995,062 |
NOTE: Tokens are initially set to be non-transferable.
- Dev Mining (6,000) - Software and business development efforts from Oct 1, 2020 - Dec 31, 2021 (view spending projections above)
- Pre-Seed Builders (4,000) - Building efforts before Oct 1, 2020 (viewable here)
- Pre-Seed Funders (4,000) - Early financial backers (viewable here)
- DAO Treasury (6,000) - Surplus resource for future usage (integration grants, partnerships, fundraising, insurance, liquidity, etc.)
* Please keep in mind that the DAO can decide to change these plans at any time
Initial governance parameters are as follows:
| Parameter | Value | Description |
|---|---|---|
| Minimum Approval | 10% | Percentage of the total token supply that is required to vote “Yes” on a proposal before it can be approved. |
| Support | 60% | Relative percentage of tokens that are required to vote “Yes” for a proposal to be approved. |
| Vote Duration | 7 days | Maximum length of time that the vote will be open for participation. |
The DAO uses the following Aragon apps:
| App | Address | Description |
|---|---|---|
| Voting | 0x5f78d0668ba666b4ed9674b313419d9db6cd48a6 | Used to create and participate in votes. Votes can be linked to an action, such as minting W3API or transferring funds, or be purely informative. |
| Finance | 0xc19a9f41df38e0f01f809d257d6c71f892adaaff | Manages the organization's financial assets, including ETH and ERC20s. |
| Tokens | 0x8baa4cd6bf2a01e96e421c18b0231ce7791ed869 | Manages the supply and distribution of W3API. |
| Token Request | 0x9bb4ea752a3096104c7765ad318b0f9cabaaf95f | Mints W3API in exchange for payment. |
| Agent | 0x8fe59d8fb5ffd3509e5cb3d386be8bdb2d363662 | Enables the organization to interact directly with any other smart contract on Ethereum. For example, setting an ENS resolver. |
See the full configuration here.
* Please keep in mind that the DAO can decide to change its configuration at any time
Holders of W3API do not constitute any sort of partnership or joint venture, only the right to participate in the governance of the DAO. Further, becoming a Builder does not constitute any sort of partnership, joint venture, principal-agent relationship, or an employer-employee relationship.