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jaekwon/gnoland_tokenomics.md

Created February 25, 2025 05:10
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  1. jaekwon created this gist Feb 25, 2025.
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    # Gno.land Tokenomics

    ## Genesis Allocation

    * Airdrop: 70%
    * NT,LLC: 25%
    * ContribDAO: 2.5%
    * GrowthDAO: 2.5%

    ## Budget Allocations

    * Budget = 5PConstInflation + AllTxFees
    * 5PConstInflation: 5% of GNOT at genesis, forever every year continuously, from genesis.
    * AllTxFees: sum of all tx fees collected.
    * T1T2PayCapacity and ValidatorCapacity must be determined and published by GovDAO.
    * T1T2PayCapacity must be used to pay T1/T2 members only.
    * ValidatorCapacity must be used to pay validators only.

    ### 5% Const Inflation

    * GovDAO.PayTreasury must be funded at least 25% of 5PConstInflation if T1T2PayCapacity < 70.
    * GovDAO.PayTreasury must be funded at most 25% of 5PConstInflation if T1T2PayCapacity >= 70.
    * GovDAO.ValTreasury must be funded at least 25% of 5PConstInflation if ValidatorCapacity < 70.
    * GovDAO.ValTreasury must be funded at most 25% of 5PConstInflation if ValidatorCapacity >= 70.
    * GovDAO is responsible for determining what to do with excess budget for
    above two cases, (such as fund ContribDAO or GrowthDAO).

    ### All Tx Fees

    * GovDAO.ValidatorTreasury must be funded all 100% of AllTxFees if ValidatorCapacity < 10.
    * GovDAO.ValidatorTreasury must be funded at least 75% of AllTxFees if ValidatorCapacity < 70.
    * GovDAO is responsible for determining what to do with excess budget for
    above case, (such as fund T1T2PayCapacity, ContribDAO, or GrowthDAO).

    ### Reserve Treasury

    * Everything not assigned above goes into the GovDAO.ReserveTreasury.
    * Every transfer from GovDAO.ReserveTreasury must be approved by a GovDAO proposal.
    * Every transfer from GovDAO.ReserveTreasury must go to a specialized common DAO.
    * Every transfer from GovDAO.ReserveTreasury must have accountability measures.

    ### GovDAO.PayTreasury and GovDAO.ValTreasury diversification

    * Diversification away from GNOT from GovDAO.PayTreasury and
    GovDAO.ValTreasury must not exceed 50% of 5PConstInflation per year.

    ## GNOTDAO

    * All proposals that involve GNOT inflation must first pass GNOTDAO, then GovDAO (bicameral).
    * GNOT Inflation limited to 10% of total GNOT supply per year.
    * GovDAO T1 membership election, in certain cases where T1 membership is inadequate.

    ## References

    Also see https://gist.github.com/jaekwon/918ad325c4c8f7fb5d6e022e33cb7eb3