SoftDAO ($SOFT) is a DAO by TokenSoft, which aims to support development of decentralized protocol. It is also a fair-launch platform for web3 projects and communities. SOFT is the ERC20 governance token of SoftDAO.
In pursuit of this mission, the SoftDAO will aim to:
- Stewards On-Chain Smart Contracts & Libraries – SoftDAO supports battle-tested, open-source smart contracts and libraries across multiple blockchains. The aim of supporting these contracts is to push forward the values of SoftDAO more broadly in the ecosystem. See Appendix A: Primitives for details.
- Supports Core Teams – SoftDAO engages approved parties (Core Teams) to build and operate crypto tools. SoftDAO issues requests for proposals (RFPs), selects qualified Core Team proposals, and funds such Core Teams from its treasury. Core Team proposals must demonstrate long-term incentive alignment with SoftDAO.
- Manages the Treasury – SoftDAO believes capital is required for sustainability. Therefore, SoftDAO aims to manage its treasury for conservative, long-term growth. To this end, SoftDAO may receive fees from its smart contracts and fund aligned projects. SOFT holders may also vote on additional uses for SoftDAO treasury.
The Soft DAO token ($SOFT 33) will serve as a governance token that allows community members to vote, participate, and influence the future direction of Soft DAO smart contracts, products, and services.
As part of the Soft DAO’s mission to be community-led and fairness focused, the DAO is committed to creating a fair and equitable network that rewards its members for their active participation in the ecosystem.
SOFT Tokens Utility
Uses of the SOFT token may include but are not limited to:
- Governance: voting rights within SoftDAO are correlated with SOFT token ownership. However, it is likely that SoftDAO will implement a version of Tokensoft’s Genesis Governance 89. This primitive will apply a multiplier to the governing power of original token holders who do not trade their governance stakes.
- Funding: in pursuit of its mission, SoftDAO may choose to fund Core Teams build and operate crypto tools. In funding such teams, SoftDAO may disburse some of its treasury — which includes the SOFT token.
- Incentive Alignment: building upon the three previous points, the existence of a token with all of the above powers means that incentives are aligned across the community to govern SoftDAO.
Vesting & Lockups
Soft Drop participant’s airdropped SOFT tokens will be subject to a 1 month lockup period, followed by a two year continuous vesting schedule. Tokens in the vesting contract will still provide beneficiaries with voting power during the lockup and vesting periods.
SoftDAO Treasury: use of Treasury funds is subject to SoftDAO governance and may include grants, partnerships, advisors, service providers, bounties, referrals, and funding. Tokens in the SoftDAO Treasury are not subject to vesting or lockups.
Of the allocated 2% of total SOFT token supply, 70% of that allocation will be airdropped to Softernet participants, with the remaining 30% going to Tokensoft legacy sale participants.
SOFT Allocation & Emissions
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NOTE: The Above emissions model is just that - a model. Actual emissions will vary — perhaps materially — since they are subject to the Soft DAO’s governance, price of bitcoin, individual vesting schedules, and service provider discretion (depending on the allocation category).
- Max Allocations: round allocations are maximum allocations, actual tokens sold in each round may be less than the allocated amounts.
- Unsold or Unclaimed tokens: unsold or unclaimed tokens in any round may be made available in subsequent rounds or returned to the Treasury.
- SoftDrop: subject to governance, these tokens will be made available to legacy Tokensoft community members and incentivized testnet participants.
Once The Soft Drop has been completed and tokens are distributed the DAO can begin transferring voting and governance processes over a new DAO Governor smart contract visible on Tally and Snapshot.
To participate in Soft DAO community governance processes users the DAO recommends users register an account on The SoftDAO Discourse Governance Forum at https://forum.softdao.ch 354
We look forward to continuing collaboration with the broader community, our core team, and our partners in building The Soft DAO! We welcome any and all feedback though our governance forum on Discourse (link below).
A vote will be conducted via the DAO multisig 68 on October 26, 2022 at 9pm UTC to affirm the above should no changes be ratified.
Register and verify your account here 767
Sign up to participate in our governance forum here 354
Proposals are limited to the following scope:
- Meta-Governance and Mechanics: SoftDAO may ratify a code of conduct, update governance smart contracts, and alter its own governance mechanisms.
- Steward On-Chain Primitives: SoftDAO manages a portfolio of smart contracts. This means curating libraries, updating key parameters, and coordinating with other industry participants to build primitives that help to build and launch
- Support Core Teams: SoftDAO may engage Core Teams to build crypto infrastructure and applications. Each engagement is governed by a Core Team Agreement. SoftDAO’s involvement may include, without limitation:
- Creating RFPs for specific tools - Approving Core Team applications
- Disbursing grants to approved Core Teams
- Circulating Core Team tools to the SOFT ecosystem
- Treasury Management: SoftDAO may grow and manage its treasury for long-term sustainability.
