Simple Summary#
This TIP proposes to formalize the following tokenomics model of Thales governance token:
https://docs.thales.market/getting-started/thales-tokenomics
Abstract#
Thales protocol is launching a governance token THALES. It will be a standard ERC20 token that uses the ticker THALES. Thales DAO token is used to govern Thales protocol. Any further utility is to be decided and voted on by Thales DAO token holders or their chosen representatives.
The goal of this TIP is to officially formalize the distribution and vesting periods for the THALES token.
Motivation#
The first iteration of Thales protocol governing body, the Thales council, was elected in august 2021 by Synthetix community of SNX stakers. With launch and proposed distribution of THALES governance token, future iterations of Thales council will be voted on by stakers of THALES. This way, THALES holders will be the foundation of every key decision regarding the progress of the protocol. This distribution model is set up in a way to incentivise long term alignment with the project and to incentivise future progress of the protocol in the most optimal way.
Specification#
This proposal entails Thales DAO to launch and distribute THALES governance token in a manner detailed on the following tokenomics article:
https://docs.thales.market/getting-started/thales-tokenomics
THALES total supply: 100,000,000
Distribution and vesting schedule:
This proposal also entails Thales protocol DAO to deploy the following smart contracts:
- Synthetix SNX stakers distribution contracts:
Retro airdrop: https://github.com/thales-markets/contracts/blob/main/contracts/Airdrop/Airdrop.sol
Retro pro rata distribution: https://github.com/thales-markets/contracts/blob/main/contracts/RetroDistribution/VestingEscrow.sol
Ongoing distribution: https://github.com/thales-markets/contracts/blob/main/contracts/Airdrop/OngoingAirdrop.sol
- THALES staking and escrow contracts:
https://github.com/thales-markets/contracts/blob/main/contracts/Staking/StakingThales.sol
https://github.com/thales-markets/contracts/blob/main/contracts/Staking/EscrowThales.sol
Rationale#
n/a
Test Cases#
n/a
Implementation#
n/a
Copyright#
Copyright and related rights waived via CC0.