March 19, 2022

[Notes compiled by envy##9950]

1) Brief intros, expertise or relevant skills #

Education/Industry exposure: Computer science, engineering, biotech, economics, management, political science, financial technology, corporate law, software engineering

Cryptocurrency familiarity: mostly everyone at least a year, as much as six

Locations: Romania, Italy, Western Canada, Eastern USA, Thailand, Spain, Hong Kong

Poll: NETA DAO Skillsets (Screenshot captured 02:04pm UTC, votes not all-inclusive of call audience)

2) Overview of work to date on DAO #

  • several ideas were discussed in previous weeks (autocompounding, staking rewards, DEXes) but no concrete work yet
  • March 31: NETA NFTs launching on Passage Marketplace, tentative price of 6 ATOM
  • 80% to DAO, 10% to Rendrasc, 10% to Passage team
    • will generate about 12k ATOM, 9.6k ATOM in coffers to start with Poll: commission
  • got in touch with dimi, ITA Stakers willing to help as well
    • dimi able to help on dev/programming/smart contract side

3) Identify immediate challenges #

  • NETA token distribution came before the DAO, now all tokens are outside the DAO, so there’s no centralized community pool, no inflation on token so no incentive to stake
  • compared to ION: facing a lot of the same challenges, but they have 75% of the tokens in the DAO (centralized fund)

4) Identify immediate priorities #

How do we generate a treasury? How can we incentivize deposits of NETA into the DAO? How do we accumulate assets to incentivize? #

Possible solutions:

  • users that deposit get voting power to guide the direction of the DAO
  • vesting schedule of deposited NETA where some amount is returned to users over time
  • community-run JUNO validator where profits are forwarded to treasury
  • borrowing/lending against NETA
  • secondary token airdrop for NETA holders where a percentage is dropped into DAO treasury (discussed 50%)
    • drawback: now need to create value for two tokens
  • NFT projects, create and sell NFT series where royalties or profits go into treasury
    • play off Stargaze launch in current ecosystem
    • seek out artists to commission content; NETA community artists making NFTs for Strange Clan
  • create NETA content for existing NFT platforms and games
    • NETA guild in Strange Clan
  • coupon or unlocking feature for holding certain NFTs
    • commission the artist for Osmosis, holders would get a gas fee discount. would need to collaborate with core devs and DEX operators for code implementation
  • review new CW-20 tokens or give proposal feedback on commonwealth, offer due diligence service for JUNO community
    • “stamp of approval” to maintain integrity in JUNO community
    • NETA was dropped to JUNO’s most active stakers - people in the NETA community are invested in JUNO’s success
    • creates set of governance standards
    • potential risk: creates pressure around NETA brand

5) Review NETA purpose/prior agreements/consensus #

  • “store of value” agreed upon as brand statement - no reason to change original view
  • shotgun approach to creating media for both branding and capturing value for treasury
  • capitalize on Roman mythology iconography for art - goddess Juno Moneta
  • measure twice, cut once - take a little more time to do it right, work with what we have, no need to overcomplicate